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 1.68%/yr vs 7.19%/yr for BRW. Their 0.27 correlation means their historical movements had little consistent relationship.
Performance
PFL vs. BRW - Performance Comparison
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Returns By Period
In the year-to-date period, PFL achieves a -1.73% return, which is significantly lower than BRW's 3.06% return.
PFL
- 1D
- -0.52%
- 1M
- -0.62%
- 6M
- -2.45%
- YTD
- -1.73%
- 1Y
- 2.73%
- 3Y*
- 9.90%
- 5Y*
- 1.68%
- 10Y*
- 7.76%
- ALL TIME*
- 6.40%
BRW
- 1D
- -1.64%
- 1M
- 0.67%
- 6M
- 5.41%
- YTD
- 3.06%
- 1Y
- -8.59%
- 3Y*
- 8.57%
- 5Y*
- 7.19%
- 10Y*
- —
- ALL TIME*
- 7.02%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.26M | $1.37M | $1.47M | |
| $1.23M | $2.37M | $1.78M |
PFL vs. BRW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PFL PIMCO Income Strategy Fund | -1.73% | 13.03% | 11.51% | 17.29% | -17.92% | -6.38% |
BRW Saba Capital Income & Opportunities Fund | 3.06% | 5.89% | 12.16% | 18.49% | -4.64% | 3.19% |
Correlation
The correlation between PFL and BRW is 0.23, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.23 |
Correlation (3Y) Balances recent behavior with more history. | 0.23 |
Correlation (5Y) Shows whether the relationship held over a longer 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 | +0.96 | ||
| Sortino ratioReturn per unit of downside risk | +1.27 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 0.90 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.42 | -0.48 | +0.90 |
| Martin ratioReturn relative to average drawdown | 1.13 | -0.80 | +1.93 |
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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 | -12.89% | -17.74% | +4.85% |
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 | -3.61% | -9.19% | +5.58% |
Average DrawdownAverage peak-to-trough decline | -10.95% | -4.10% | -6.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.86% | 10.60% | -7.74% |
Volatility
PFL vs. BRW - Volatility Comparison
The current volatility for PIMCO Income Strategy Fund (PFL) is 2.24%, while Saba Capital Income & Opportunities Fund (BRW) has a volatility of 4.03%. 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 | 2.24% | 4.03% | -1.79% |
Volatility (6M)Calculated over the trailing 6-month period | 8.45% | 8.85% | -0.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.55% | 13.66% | -4.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.60% | 13.01% | +0.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.32% | 12.90% | +5.42% |
Dividends
PFL vs. BRW - Dividend Comparison
PFL's dividend yield for the trailing twelve months is around 12.65%, less than BRW's 15.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BRW Saba Capital Income & Opportunities Fund | 15.41% | 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 | 12.65% | 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 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BRW has higher volatility (4.03%) compared to PFL (2.24%). In terms of maximum drawdown, PFL dropped -77.97% vs BRW's -17.74%.
PFL currently has the higher Sharpe Ratio (0.34 vs -0.62), 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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