OWCIX vs. BRW
OWCIX (Old Westbury Credit Income Fund) and BRW (Saba Capital Income & Opportunities Fund) are both Multisector Bonds funds. Over the past 5 years, OWCIX returned 0.48%/yr vs 6.64%/yr for BRW. At a 0.16 correlation, their price movements are largely independent. OWCIX charges 0.85%/yr vs 1.71%/yr for BRW.
Performance
OWCIX vs. BRW - Performance Comparison
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Returns By Period
In the year-to-date period, OWCIX achieves a 1.40% return, which is significantly lower than BRW's 3.52% return.
OWCIX
- 1D
- 0.00%
- 1M
- -0.25%
- 6M
- 0.90%
- YTD
- 1.40%
- 1Y
- 5.32%
- 3Y*
- 5.74%
- 5Y*
- 0.48%
- 10Y*
- —
BRW
- 1D
- 0.76%
- 1M
- 2.67%
- 6M
- 3.59%
- YTD
- 3.52%
- 1Y
- -4.66%
- 3Y*
- 9.80%
- 5Y*
- 6.64%
- 10Y*
- —
OWCIX vs. BRW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
OWCIX Old Westbury Credit Income Fund | 1.40% | 9.35% | 2.32% | 6.42% | -16.20% | 3.68% |
BRW Saba Capital Income & Opportunities Fund | 3.52% | 5.89% | 12.16% | 18.49% | -4.64% | 3.19% |
Correlation
The correlation between OWCIX and BRW is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since May 5, 2021 | 0.16 |
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Return for Risk
OWCIX vs. BRW — Risk / Return Rank
OWCIX
BRW
OWCIX vs. BRW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Old Westbury Credit Income Fund (OWCIX) 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.
| OWCIX | BRW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.61 | ||
| Sortino ratioReturn per unit of downside risk | +2.20 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 0.95 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 2.05 | -0.26 | +2.31 |
| Martin ratioReturn relative to average drawdown | 6.08 | -0.45 | +6.53 |
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Drawdowns
OWCIX vs. BRW - Drawdown Comparison
The maximum OWCIX drawdown since its inception was -19.92%, which is greater than BRW's maximum drawdown of -17.74%. Use the drawdown chart below to compare losses from any high point for OWCIX and BRW.
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Drawdown Indicators
| OWCIX | BRW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.92% | -17.74% | -2.18% |
Max Drawdown (1Y)Largest decline over 1 year | -2.89% | -17.74% | +14.85% |
Max Drawdown (3Y)Largest decline over 3 years | -7.32% | -17.74% | +10.42% |
Max Drawdown (5Y)Largest decline over 5 years | -19.92% | -17.74% | -2.18% |
Current DrawdownCurrent decline from peak | -1.00% | -8.78% | +7.78% |
Average DrawdownAverage peak-to-trough decline | -7.49% | -4.05% | -3.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 10.41% | -9.47% |
Volatility
OWCIX vs. BRW - Volatility Comparison
The current volatility for Old Westbury Credit Income Fund (OWCIX) is 1.32%, while Saba Capital Income & Opportunities Fund (BRW) has a volatility of 3.36%. This indicates that OWCIX 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
| OWCIX | BRW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.32% | 3.36% | -2.04% |
Volatility (6M)Calculated over the trailing 6-month period | 3.42% | 8.38% | -4.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.71% | 13.45% | -8.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.19% | 12.97% | -6.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.90% | 12.87% | -6.97% |
OWCIX vs. BRW - Expense Ratio Comparison
OWCIX has a 0.85% expense ratio, which is lower than BRW's 1.71% expense ratio.
Dividends
OWCIX vs. BRW - Dividend Comparison
OWCIX's dividend yield for the trailing twelve months is around 5.26%, less than BRW's 15.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
BRW Saba Capital Income & Opportunities Fund | 15.34% | 14.46% | 12.27% | 16.02% | 13.82% | 4.53% | 0.00% |
OWCIX Old Westbury Credit Income Fund | 5.26% | 7.01% | 5.83% | 5.44% | 5.30% | 3.91% | 1.06% |
Frequently Asked Questions
OWCIX and BRW have a correlation of 0.14, 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 OWCIX (1.32%). In terms of maximum drawdown, OWCIX dropped -19.92% vs BRW's -17.74%.
OWCIX currently has the higher Sharpe Ratio (1.26 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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