PFN vs. BRW
PFN (PIMCO Income Strategy Fund II) and BRW (Saba Capital Income & Opportunities Fund) are both Multisector Bonds funds. Over the past 5 years, PFN returned 2.25%/yr vs 6.88%/yr for BRW. At a 0.24 correlation, their price movements are largely independent. PFN charges 1.74%/yr vs 1.71%/yr for BRW.
Performance
PFN vs. BRW - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PFN achieves a 1.58% return, which is significantly lower than BRW's 4.46% return.
PFN
- 1D
- 0.57%
- 1M
- 5.32%
- 6M
- 1.56%
- YTD
- 1.58%
- 1Y
- 7.68%
- 3Y*
- 12.57%
- 5Y*
- 2.25%
- 10Y*
- 8.17%
BRW
- 1D
- 0.90%
- 1M
- 3.60%
- 6M
- 4.83%
- YTD
- 4.46%
- 1Y
- -3.21%
- 3Y*
- 10.13%
- 5Y*
- 6.88%
- 10Y*
- —
PFN vs. BRW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PFN PIMCO Income Strategy Fund II | 1.58% | 13.07% | 15.72% | 15.43% | -17.65% | -4.80% |
BRW Saba Capital Income & Opportunities Fund | 4.46% | 5.89% | 12.16% | 18.49% | -4.64% | 3.19% |
Correlation
The correlation between PFN and BRW is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since May 5, 2021 | 0.24 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PFN vs. BRW — Risk / Return Rank
PFN
BRW
PFN vs. BRW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Income Strategy Fund II (PFN) 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.
| PFN | BRW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.99 | ||
| Sortino ratioReturn per unit of downside risk | +1.36 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 0.97 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.72 | -0.18 | +0.90 |
| Martin ratioReturn relative to average drawdown | 2.61 | -0.31 | +2.92 |
Loading charts...
Drawdowns
PFN vs. BRW - Drawdown Comparison
The maximum PFN drawdown since its inception was -80.08%, which is greater than BRW's maximum drawdown of -17.74%. Use the drawdown chart below to compare losses from any high point for PFN and BRW.
Loading charts...
Drawdown Indicators
| PFN | BRW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.08% | -17.74% | -62.34% |
Max Drawdown (1Y)Largest decline over 1 year | -10.77% | -17.74% | +6.97% |
Max Drawdown (3Y)Largest decline over 3 years | -14.31% | -17.74% | +3.43% |
Max Drawdown (5Y)Largest decline over 5 years | -33.45% | -17.74% | -15.71% |
Max Drawdown (10Y)Largest decline over 10 years | -45.70% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -7.96% | +7.96% |
Average DrawdownAverage peak-to-trough decline | -11.78% | -4.06% | -7.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.95% | 10.42% | -7.47% |
Volatility
PFN vs. BRW - Volatility Comparison
The current volatility for PIMCO Income Strategy Fund II (PFN) is 2.44%, while Saba Capital Income & Opportunities Fund (BRW) has a volatility of 3.31%. This indicates that PFN 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.
Loading charts...
Volatility by Period
| PFN | BRW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.44% | 3.31% | -0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 8.86% | 8.42% | +0.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.31% | 13.46% | -3.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.64% | 12.98% | +1.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.18% | 12.88% | +5.30% |
PFN vs. BRW - Expense Ratio Comparison
PFN has a 1.74% expense ratio, which is higher than BRW's 1.71% expense ratio.
Dividends
PFN vs. BRW - Dividend Comparison
PFN's dividend yield for the trailing twelve months is around 12.14%, less than BRW's 15.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BRW Saba Capital Income & Opportunities Fund | 15.20% | 14.46% | 12.27% | 16.02% | 13.82% | 4.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PFN PIMCO Income Strategy Fund II | 12.14% | 11.49% | 11.57% | 11.92% | 12.19% | 9.71% | 9.67% | 9.07% | 10.81% | 9.20% | 10.12% | 11.74% |
Frequently Asked Questions
PFN and BRW have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BRW has higher volatility (3.31%) compared to PFN (2.44%). In terms of maximum drawdown, PFN dropped -80.08% vs BRW's -17.74%.
PFN currently has the higher Sharpe Ratio (0.75 vs -0.24), 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.
Find the right allocation for PFN and BRW
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer