PDVAX vs. BRW
PDVAX (PIMCO Diversified Income Fund Class A) and BRW (Saba Capital Income & Opportunities Fund) are both Multisector Bonds funds. Both are actively managed. Over the past 5 years, PDVAX returned 1.89%/yr vs 6.64%/yr for BRW. At a 0.20 correlation, their price movements are largely independent. PDVAX charges 1.21%/yr vs 1.71%/yr for BRW.
Performance
PDVAX vs. BRW - Performance Comparison
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Returns By Period
In the year-to-date period, PDVAX achieves a 1.40% return, which is significantly lower than BRW's 3.52% return.
PDVAX
- 1D
- 0.10%
- 1M
- 0.03%
- 6M
- 1.10%
- YTD
- 1.40%
- 1Y
- 7.13%
- 3Y*
- 8.10%
- 5Y*
- 1.89%
- 10Y*
- 3.57%
BRW
- 1D
- 0.76%
- 1M
- 2.67%
- 6M
- 3.59%
- YTD
- 3.52%
- 1Y
- -4.66%
- 3Y*
- 9.80%
- 5Y*
- 6.64%
- 10Y*
- —
PDVAX vs. BRW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PDVAX PIMCO Diversified Income Fund Class A | 1.40% | 9.98% | 5.93% | 9.55% | -14.97% | 1.34% |
BRW Saba Capital Income & Opportunities Fund | 3.52% | 5.89% | 12.16% | 18.49% | -4.64% | 3.19% |
Correlation
The correlation between PDVAX 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 | 0.20 |
Correlation (All Time) Calculated using the full available price history since May 5, 2021 | 0.20 |
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Return for Risk
PDVAX vs. BRW — Risk / Return Rank
PDVAX
BRW
PDVAX vs. BRW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Diversified Income Fund Class A (PDVAX) 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.
| PDVAX | BRW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.17 | ||
| Sortino ratioReturn per unit of downside risk | +3.16 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 0.95 | +0.41 |
| Calmar ratioReturn relative to maximum drawdown | 1.93 | -0.26 | +2.20 |
| Martin ratioReturn relative to average drawdown | 7.80 | -0.45 | +8.24 |
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Drawdowns
PDVAX vs. BRW - Drawdown Comparison
The maximum PDVAX drawdown since its inception was -22.13%, which is greater than BRW's maximum drawdown of -17.74%. Use the drawdown chart below to compare losses from any high point for PDVAX and BRW.
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Drawdown Indicators
| PDVAX | BRW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.13% | -17.74% | -4.39% |
Max Drawdown (1Y)Largest decline over 1 year | -3.55% | -17.74% | +14.19% |
Max Drawdown (3Y)Largest decline over 3 years | -4.34% | -17.74% | +13.40% |
Max Drawdown (5Y)Largest decline over 5 years | -20.85% | -17.74% | -3.11% |
Max Drawdown (10Y)Largest decline over 10 years | -20.85% | — | — |
Current DrawdownCurrent decline from peak | -0.60% | -8.78% | +8.18% |
Average DrawdownAverage peak-to-trough decline | -2.97% | -4.05% | +1.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 10.41% | -9.53% |
Volatility
PDVAX vs. BRW - Volatility Comparison
The current volatility for PIMCO Diversified Income Fund Class A (PDVAX) is 0.97%, while Saba Capital Income & Opportunities Fund (BRW) has a volatility of 3.36%. This indicates that PDVAX 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
| PDVAX | BRW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.97% | 3.36% | -2.39% |
Volatility (6M)Calculated over the trailing 6-month period | 3.20% | 8.38% | -5.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.78% | 13.45% | -9.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.98% | 12.97% | -7.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.85% | 12.87% | -8.02% |
PDVAX vs. BRW - Expense Ratio Comparison
PDVAX has a 1.21% expense ratio, which is lower than BRW's 1.71% expense ratio.
Dividends
PDVAX vs. BRW - Dividend Comparison
PDVAX's dividend yield for the trailing twelve months is around 5.18%, 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% |
PDVAX PIMCO Diversified Income Fund Class A | 5.18% | 5.03% | 4.79% | 3.92% | 3.56% | 3.17% | 3.28% | 4.65% | 4.05% | 4.45% | 4.55% | 7.25% |
Frequently Asked Questions
PDVAX 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 PDVAX (0.97%). In terms of maximum drawdown, PDVAX dropped -22.13% vs BRW's -17.74%.
PDVAX currently has the higher Sharpe Ratio (1.82 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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