MIAQX vs. BRW
MIAQX (American Funds Multi-Sector Income Fund) and BRW (Saba Capital Income & Opportunities Fund) are both Multisector Bonds funds. Over the past 5 years, MIAQX returned 2.18%/yr vs 6.41%/yr for BRW. At a 0.23 correlation, their price movements are largely independent. MIAQX charges 0.78%/yr vs 1.71%/yr for BRW.
Performance
MIAQX vs. BRW - Performance Comparison
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Returns By Period
In the year-to-date period, MIAQX achieves a 1.11% return, which is significantly higher than BRW's 0.83% return.
MIAQX
- 1D
- 0.21%
- 1M
- 0.39%
- YTD
- 1.11%
- 6M
- 1.63%
- 1Y
- 5.84%
- 3Y*
- 7.25%
- 5Y*
- 2.18%
- 10Y*
- —
BRW
- 1D
- -0.30%
- 1M
- -2.31%
- YTD
- 0.83%
- 6M
- 1.70%
- 1Y
- -3.55%
- 3Y*
- 9.33%
- 5Y*
- 6.41%
- 10Y*
- —
MIAQX vs. BRW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MIAQX American Funds Multi-Sector Income Fund | 1.11% | 7.81% | 6.08% | 9.47% | -13.04% | 2.31% |
BRW Saba Capital Income & Opportunities Fund | 0.83% | 5.89% | 12.16% | 18.49% | -4.64% | 3.19% |
Correlation
The correlation between MIAQX and BRW is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since May 5, 2021 | 0.23 |
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Return for Risk
MIAQX vs. BRW — Risk / Return Rank
MIAQX
BRW
MIAQX vs. BRW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Funds Multi-Sector Income Fund (MIAQX) 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.
| MIAQX | BRW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.86 | ||
| Sortino ratioReturn per unit of downside risk | +2.81 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 0.96 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | -0.20 | +2.26 |
| Martin ratioReturn relative to average drawdown | 9.23 | -0.35 | +9.58 |
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Drawdowns
MIAQX vs. BRW - Drawdown Comparison
The maximum MIAQX drawdown since its inception was -18.01%, roughly equal to the maximum BRW drawdown of -17.74%. Use the drawdown chart below to compare losses from any high point for MIAQX and BRW.
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Drawdown Indicators
| MIAQX | BRW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.01% | -17.74% | -0.27% |
Max Drawdown (1Y)Largest decline over 1 year | -2.84% | -17.74% | +14.90% |
Max Drawdown (3Y)Largest decline over 3 years | -4.60% | -17.74% | +13.14% |
Max Drawdown (5Y)Largest decline over 5 years | -18.01% | -17.74% | -0.27% |
Current DrawdownCurrent decline from peak | -0.43% | -11.15% | +10.72% |
Average DrawdownAverage peak-to-trough decline | -3.97% | -4.00% | +0.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.63% | 10.21% | -9.58% |
Volatility
MIAQX vs. BRW - Volatility Comparison
The current volatility for American Funds Multi-Sector Income Fund (MIAQX) is 1.18%, while Saba Capital Income & Opportunities Fund (BRW) has a volatility of 4.39%. This indicates that MIAQX 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
| MIAQX | BRW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.18% | 4.39% | -3.21% |
Volatility (6M)Calculated over the trailing 6-month period | 2.94% | 8.23% | -5.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.70% | 13.38% | -9.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.79% | 12.94% | -8.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.35% | 12.90% | -7.55% |
MIAQX vs. BRW - Expense Ratio Comparison
MIAQX has a 0.78% expense ratio, which is lower than BRW's 1.71% expense ratio.
Dividends
MIAQX vs. BRW - Dividend Comparison
MIAQX's dividend yield for the trailing twelve months is around 6.04%, less than BRW's 15.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
BRW Saba Capital Income & Opportunities Fund | 15.54% | 14.46% | 12.27% | 16.02% | 13.82% | 4.53% | 0.00% |
MIAQX American Funds Multi-Sector Income Fund | 6.04% | 5.98% | 5.57% | 4.83% | 3.39% | 3.77% | 3.21% |
Frequently Asked Questions
MIAQX and BRW have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BRW has higher volatility (4.39%) compared to MIAQX (1.18%). In terms of maximum drawdown, MIAQX dropped -18.01% vs BRW's -17.74%.
MIAQX currently has the higher Sharpe Ratio (1.59 vs -0.27), 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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