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 0.76%/yr vs 6.18%/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 1.92% return, which is significantly higher than BRW's -0.25% return.
OWCIX
- 1D
- -0.38%
- 1M
- 1.09%
- YTD
- 1.92%
- 6M
- 1.79%
- 1Y
- 6.66%
- 3Y*
- 5.57%
- 5Y*
- 0.76%
- 10Y*
- —
BRW
- 1D
- 0.15%
- 1M
- -2.78%
- YTD
- -0.25%
- 6M
- 0.62%
- 1Y
- -4.10%
- 3Y*
- 8.94%
- 5Y*
- 6.18%
- 10Y*
- —
OWCIX vs. BRW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
OWCIX Old Westbury Credit Income Fund | 1.92% | 9.35% | 2.32% | 6.42% | -16.20% | 3.68% |
BRW Saba Capital Income & Opportunities Fund | -0.25% | 5.89% | 12.16% | 18.49% | -4.64% | 3.19% |
Correlation
The correlation between OWCIX 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 | 0.16 |
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 | +1.96 | ||
| Sortino ratioReturn per unit of downside risk | +2.73 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 0.96 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 2.69 | -0.23 | +2.92 |
| Martin ratioReturn relative to average drawdown | 7.97 | -0.40 | +8.37 |
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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 | -0.38% | -12.10% | +11.72% |
Average DrawdownAverage peak-to-trough decline | -7.55% | -3.99% | -3.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.93% | 10.16% | -9.23% |
Volatility
OWCIX vs. BRW - Volatility Comparison
The current volatility for Old Westbury Credit Income Fund (OWCIX) is 1.31%, while Saba Capital Income & Opportunities Fund (BRW) has a volatility of 4.17%. 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 | 1.31% | 4.17% | -2.86% |
Volatility (6M)Calculated over the trailing 6-month period | 3.34% | 8.18% | -4.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.72% | 13.33% | -8.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.19% | 12.93% | -6.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.91% | 12.89% | -6.98% |
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 5.23%, less than BRW's 15.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
BRW Saba Capital Income & Opportunities Fund | 15.71% | 14.46% | 12.27% | 16.02% | 13.82% | 4.53% | 0.00% |
OWCIX Old Westbury Credit Income Fund | 5.23% | 7.01% | 5.83% | 5.44% | 5.30% | 3.91% | 1.06% |
Frequently Asked Questions
OWCIX 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 (4.17%) compared to OWCIX (1.31%). In terms of maximum drawdown, OWCIX dropped -19.92% vs BRW's -17.74%.
OWCIX currently has the higher Sharpe Ratio (1.65 vs -0.31), 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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