JMUIX vs. BRW
JMUIX (Janus Henderson Multi-Sector Income Fund) and BRW (Saba Capital Income & Opportunities Fund) are both Multisector Bonds funds. Over the past 5 years, JMUIX returned 2.97%/yr vs 6.64%/yr for BRW. At a 0.18 correlation, their price movements are largely independent. JMUIX charges 0.69%/yr vs 1.71%/yr for BRW.
Performance
JMUIX vs. BRW - Performance Comparison
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Returns By Period
In the year-to-date period, JMUIX achieves a 1.37% return, which is significantly lower than BRW's 3.52% return.
JMUIX
- 1D
- -0.12%
- 1M
- 0.45%
- 6M
- 1.14%
- YTD
- 1.37%
- 1Y
- 6.29%
- 3Y*
- 8.01%
- 5Y*
- 2.97%
- 10Y*
- 4.43%
BRW
- 1D
- 0.76%
- 1M
- 2.67%
- 6M
- 3.59%
- YTD
- 3.52%
- 1Y
- -4.66%
- 3Y*
- 9.80%
- 5Y*
- 6.64%
- 10Y*
- —
JMUIX vs. BRW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
JMUIX Janus Henderson Multi-Sector Income Fund | 1.37% | 9.63% | 7.01% | 10.39% | -11.91% | 1.12% |
BRW Saba Capital Income & Opportunities Fund | 3.52% | 5.89% | 12.16% | 18.49% | -4.64% | 3.19% |
Correlation
The correlation between JMUIX and BRW is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since May 5, 2021 | 0.18 |
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Return for Risk
JMUIX vs. BRW — Risk / Return Rank
JMUIX
BRW
JMUIX vs. BRW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Multi-Sector Income Fund (JMUIX) and Saba Capital Income & Opportunities Fund (BRW). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| JMUIX | BRW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.19 | ||
| Sortino ratioReturn per unit of downside risk | +3.38 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 0.95 | +0.44 |
| Calmar ratioReturn relative to maximum drawdown | 2.43 | -0.26 | +2.69 |
| Martin ratioReturn relative to average drawdown | 10.77 | -0.45 | +11.22 |
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Drawdowns
JMUIX vs. BRW - Drawdown Comparison
The maximum JMUIX drawdown since its inception was -16.09%, smaller than the maximum BRW drawdown of -17.74%. Use the drawdown chart below to compare losses from any high point for JMUIX and BRW.
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Drawdown Indicators
| JMUIX | BRW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.09% | -17.74% | +1.65% |
Max Drawdown (1Y)Largest decline over 1 year | -2.50% | -17.74% | +15.24% |
Max Drawdown (3Y)Largest decline over 3 years | -3.62% | -17.74% | +14.12% |
Max Drawdown (5Y)Largest decline over 5 years | -15.99% | -17.74% | +1.75% |
Max Drawdown (10Y)Largest decline over 10 years | -16.09% | — | — |
Current DrawdownCurrent decline from peak | -0.35% | -8.78% | +8.43% |
Average DrawdownAverage peak-to-trough decline | -2.11% | -4.05% | +1.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | 10.41% | -9.85% |
Volatility
JMUIX vs. BRW - Volatility Comparison
The current volatility for Janus Henderson Multi-Sector Income Fund (JMUIX) is 0.87%, while Saba Capital Income & Opportunities Fund (BRW) has a volatility of 3.36%. This indicates that JMUIX experiences smaller price fluctuations and is considered to be less risky than BRW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JMUIX | BRW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.87% | 3.36% | -2.49% |
Volatility (6M)Calculated over the trailing 6-month period | 2.66% | 8.38% | -5.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.29% | 13.45% | -10.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.46% | 12.97% | -8.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.05% | 12.87% | -8.82% |
JMUIX vs. BRW - Expense Ratio Comparison
JMUIX has a 0.69% expense ratio, which is lower than BRW's 1.71% expense ratio.
Dividends
JMUIX vs. BRW - Dividend Comparison
JMUIX's dividend yield for the trailing twelve months is around 6.37%, less than BRW's 15.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BRW Saba Capital Income & Opportunities Fund | 15.34% | 14.46% | 12.27% | 16.02% | 13.82% | 4.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
JMUIX Janus Henderson Multi-Sector Income Fund | 6.37% | 6.57% | 7.00% | 6.66% | 5.15% | 4.25% | 4.62% | 4.99% | 4.69% | 5.66% | 5.16% | 4.86% |
Frequently Asked Questions
JMUIX and BRW have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BRW has higher volatility (3.36%) compared to JMUIX (0.87%). In terms of maximum drawdown, JMUIX dropped -16.09% vs BRW's -17.74%.
JMUIX currently has the higher Sharpe Ratio (1.84 vs -0.35), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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