PFL vs. BRW
PFL (PIMCO Income Strategy Fund) and BRW (Saba Capital Income & Opportunities Fund) are both Multisector Bonds funds. Both are actively managed. Over the past 5 years, PFL returned 0.79%/yr vs 6.15%/yr for BRW. At a 0.27 correlation, their price movements are largely independent.
Performance
PFL vs. BRW - Performance Comparison
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Returns By Period
In the year-to-date period, PFL achieves a -4.64% return, which is significantly lower than BRW's -0.40% return.
PFL
- 1D
- -0.53%
- 1M
- -0.76%
- YTD
- -4.64%
- 6M
- -3.84%
- 1Y
- 2.98%
- 3Y*
- 9.83%
- 5Y*
- 0.79%
- 10Y*
- 7.69%
BRW
- 1D
- -0.46%
- 1M
- -2.93%
- YTD
- -0.40%
- 6M
- -0.11%
- 1Y
- -4.49%
- 3Y*
- 8.88%
- 5Y*
- 6.15%
- 10Y*
- —
PFL vs. BRW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PFL PIMCO Income Strategy Fund | -4.64% | 13.03% | 11.51% | 17.29% | -17.92% | -6.38% |
BRW Saba Capital Income & Opportunities Fund | -0.40% | 5.89% | 12.16% | 18.49% | -4.64% | 3.19% |
Correlation
The correlation between PFL and BRW is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since May 5, 2021 | 0.27 |
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Return for Risk
PFL vs. BRW — Risk / Return Rank
PFL
BRW
PFL vs. BRW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Income Strategy Fund (PFL) 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.
| PFL | BRW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.66 | ||
| Sortino ratioReturn per unit of downside risk | +0.86 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 0.95 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.39 | -0.25 | +0.65 |
| Martin ratioReturn relative to average drawdown | 1.15 | -0.44 | +1.59 |
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Drawdowns
PFL vs. BRW - Drawdown Comparison
The maximum PFL drawdown since its inception was -77.97%, which is greater than BRW's maximum drawdown of -17.74%. Use the drawdown chart below to compare losses from any high point for PFL and BRW.
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Drawdown Indicators
| PFL | BRW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.97% | -17.74% | -60.23% |
Max Drawdown (1Y)Largest decline over 1 year | -7.64% | -17.74% | +10.10% |
Max Drawdown (3Y)Largest decline over 3 years | -13.21% | -17.74% | +4.53% |
Max Drawdown (5Y)Largest decline over 5 years | -33.30% | -17.74% | -15.56% |
Max Drawdown (10Y)Largest decline over 10 years | -48.40% | — | — |
Current DrawdownCurrent decline from peak | -6.46% | -12.24% | +5.78% |
Average DrawdownAverage peak-to-trough decline | -10.99% | -3.99% | -7.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.60% | 10.14% | -7.54% |
Volatility
PFL vs. BRW - Volatility Comparison
The current volatility for PIMCO Income Strategy Fund (PFL) is 2.81%, while Saba Capital Income & Opportunities Fund (BRW) has a volatility of 4.17%. This indicates that PFL 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
| PFL | BRW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.81% | 4.17% | -1.36% |
Volatility (6M)Calculated over the trailing 6-month period | 8.04% | 8.18% | -0.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.21% | 13.36% | -4.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.67% | 12.93% | +0.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.35% | 12.90% | +5.45% |
Dividends
PFL vs. BRW - Dividend Comparison
PFL's dividend yield for the trailing twelve months is around 12.90%, less than BRW's 15.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BRW Saba Capital Income & Opportunities Fund | 15.73% | 14.46% | 12.27% | 16.02% | 13.82% | 4.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PFL PIMCO Income Strategy Fund | 12.90% | 11.59% | 11.66% | 11.57% | 12.04% | 9.53% | 9.44% | 9.11% | 9.94% | 9.25% | 10.22% | 11.09% |
Frequently Asked Questions
PFL and BRW have a correlation of 0.20, 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 PFL (2.81%). In terms of maximum drawdown, PFL dropped -77.97% vs BRW's -17.74%.
PFL currently has the higher Sharpe Ratio (0.33 vs -0.34), 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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