PIMIX vs. BRW
PIMIX (PIMCO Income Fund Institutional Class) and BRW (Saba Capital Income & Opportunities Fund) are both Multisector Bonds funds. Both are actively managed. Over the past 5 years, PIMIX returned 3.17%/yr vs 7.16%/yr for BRW. Their 0.20 correlation means their historical movements had little consistent relationship. PIMIX charges 0.54%/yr vs 1.71%/yr for BRW.
Performance
PIMIX vs. BRW - Performance Comparison
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Returns By Period
In the year-to-date period, PIMIX achieves a -0.05% return, which is significantly lower than BRW's 3.37% return.
PIMIX
- 1D
- -0.28%
- 1M
- -1.47%
- 6M
- -0.55%
- YTD
- -0.05%
- 1Y
- 4.30%
- 3Y*
- 6.95%
- 5Y*
- 3.17%
- 10Y*
- 4.42%
- ALL TIME*
- 6.57%
BRW
- 1D
- 0.30%
- 1M
- 0.97%
- 6M
- 5.88%
- YTD
- 3.37%
- 1Y
- -8.31%
- 3Y*
- 8.50%
- 5Y*
- 7.16%
- 10Y*
- —
- ALL TIME*
- 7.07%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.29M | $1.36M | $1.43M | |
| $0.00 | $0.00 | $0.00 |
PIMIX vs. BRW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PIMIX PIMCO Income Fund Institutional Class | -0.05% | 11.08% | 5.45% | 9.36% | -9.07% | 1.68% |
BRW Saba Capital Income & Opportunities Fund | 3.37% | 5.89% | 12.16% | 18.49% | -4.64% | 3.19% |
Correlation
The correlation between PIMIX and BRW is 0.12, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.12 |
Correlation (3Y) Balances recent behavior with more history. | 0.18 |
Correlation (5Y) Shows whether the relationship held over a longer 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
PIMIX vs. BRW — Risk / Return Rank
PIMIX
BRW
PIMIX vs. BRW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Income Fund Institutional Class (PIMIX) 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.
| PIMIX | BRW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.83 | ||
| Sortino ratioReturn per unit of downside risk | +2.48 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 0.90 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | -0.47 | +1.83 |
| Martin ratioReturn relative to average drawdown | 4.32 | -0.78 | +5.10 |
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Drawdowns
PIMIX vs. BRW - Drawdown Comparison
The maximum PIMIX drawdown since its inception was -13.39%, smaller than the maximum BRW drawdown of -17.74%. Use the drawdown chart below to compare losses from any high point for PIMIX and BRW.
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Drawdown Indicators
| PIMIX | BRW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.39% | -17.74% | +4.35% |
Max Drawdown (1Y)Largest decline over 1 year | -3.69% | -17.74% | +14.05% |
Max Drawdown (3Y)Largest decline over 3 years | -3.69% | -17.74% | +14.05% |
Max Drawdown (5Y)Largest decline over 5 years | -13.34% | -17.74% | +4.40% |
Max Drawdown (10Y)Largest decline over 10 years | -13.39% | — | — |
Current DrawdownCurrent decline from peak | -1.96% | -8.92% | +6.96% |
Average DrawdownAverage peak-to-trough decline | -1.68% | -4.11% | +2.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.16% | 10.62% | -9.46% |
Volatility
PIMIX vs. BRW - Volatility Comparison
The current volatility for PIMCO Income Fund Institutional Class (PIMIX) is 1.17%, while Saba Capital Income & Opportunities Fund (BRW) has a volatility of 3.91%. This indicates that PIMIX 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
| PIMIX | BRW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 3.91% | -2.74% |
Volatility (6M)Calculated over the trailing 6-month period | 3.56% | 8.85% | -5.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.15% | 13.68% | -9.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.89% | 13.02% | -8.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.26% | 12.89% | -8.63% |
PIMIX vs. BRW - Expense Ratio Comparison
PIMIX has a 0.54% expense ratio, which is lower than BRW's 1.71% expense ratio.
Dividends
PIMIX vs. BRW - Dividend Comparison
PIMIX's dividend yield for the trailing twelve months is around 5.34%, less than BRW's 15.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BRW Saba Capital Income & Opportunities Fund | 15.36% | 14.46% | 12.27% | 16.02% | 13.82% | 4.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PIMIX PIMCO Income Fund Institutional Class | 5.34% | 6.01% | 6.27% | 6.21% | 4.98% | 4.02% | 4.88% | 5.83% | 5.66% | 5.37% | 5.52% | 7.88% |
Frequently Asked Questions
PIMIX and BRW have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BRW has higher volatility (3.91%) compared to PIMIX (1.17%). In terms of maximum drawdown, PIMIX dropped -13.39% vs BRW's -17.74%.
PIMIX currently has the higher Sharpe Ratio (1.22 vs -0.61), 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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