PKBIX vs. BRW
PKBIX (Payden/Kravitz Cash Balance Plan Fund) and BRW (Saba Capital Income & Opportunities Fund) are both Multisector Bonds funds. Over the past 5 years, PKBIX returned 3.92%/yr vs 7.01%/yr for BRW. At a 0.18 correlation, their price movements are largely independent. PKBIX charges 1.25%/yr vs 1.71%/yr for BRW.
Performance
PKBIX vs. BRW - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PKBIX achieves a 2.02% return, which is significantly lower than BRW's 3.21% return.
PKBIX
- 1D
- 0.00%
- 1M
- 0.50%
- 6M
- 1.92%
- YTD
- 2.02%
- 1Y
- 5.54%
- 3Y*
- 6.68%
- 5Y*
- 3.92%
- 10Y*
- 3.56%
BRW
- 1D
- -0.90%
- 1M
- 2.36%
- 6M
- 4.03%
- YTD
- 3.21%
- 1Y
- -5.76%
- 3Y*
- 9.50%
- 5Y*
- 7.01%
- 10Y*
- —
PKBIX vs. BRW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PKBIX Payden/Kravitz Cash Balance Plan Fund | 2.02% | 6.75% | 8.14% | 6.21% | -3.89% | 1.41% |
BRW Saba Capital Income & Opportunities Fund | 3.21% | 5.89% | 12.16% | 18.49% | -4.64% | 3.19% |
Correlation
The correlation between PKBIX and BRW is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since May 5, 2021 | 0.18 |
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
PKBIX vs. BRW — Risk / Return Rank
PKBIX
BRW
PKBIX vs. BRW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Payden/Kravitz Cash Balance Plan Fund (PKBIX) 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.
| PKBIX | BRW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.36 | ||
| Sortino ratioReturn per unit of downside risk | +5.03 | ||
| Omega ratioGain probability vs. loss probability | 1.68 | 0.93 | +0.75 |
| Calmar ratioReturn relative to maximum drawdown | 2.88 | -0.33 | +3.21 |
| Martin ratioReturn relative to average drawdown | 12.33 | -0.55 | +12.88 |
Loading charts...
Drawdowns
PKBIX vs. BRW - Drawdown Comparison
The maximum PKBIX drawdown since its inception was -19.17%, which is greater than BRW's maximum drawdown of -17.74%. Use the drawdown chart below to compare losses from any high point for PKBIX and BRW.
Loading charts...
Drawdown Indicators
| PKBIX | BRW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.17% | -17.74% | -1.43% |
Max Drawdown (1Y)Largest decline over 1 year | -1.90% | -17.74% | +15.84% |
Max Drawdown (3Y)Largest decline over 3 years | -2.11% | -17.74% | +15.63% |
Max Drawdown (5Y)Largest decline over 5 years | -7.05% | -17.74% | +10.69% |
Max Drawdown (10Y)Largest decline over 10 years | -19.17% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -9.06% | +9.06% |
Average DrawdownAverage peak-to-trough decline | -0.92% | -4.07% | +3.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.44% | 10.46% | -10.02% |
Volatility
PKBIX vs. BRW - Volatility Comparison
The current volatility for Payden/Kravitz Cash Balance Plan Fund (PKBIX) is 0.33%, while Saba Capital Income & Opportunities Fund (BRW) has a volatility of 3.33%. This indicates that PKBIX 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
| PKBIX | BRW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.33% | 3.33% | -3.00% |
Volatility (6M)Calculated over the trailing 6-month period | 1.58% | 8.44% | -6.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.87% | 13.48% | -11.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.60% | 12.95% | -10.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.33% | 12.87% | -9.54% |
PKBIX vs. BRW - Expense Ratio Comparison
PKBIX has a 1.25% expense ratio, which is lower than BRW's 1.71% expense ratio.
Dividends
PKBIX vs. BRW - Dividend Comparison
PKBIX's dividend yield for the trailing twelve months is around 8.09%, less than BRW's 15.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BRW Saba Capital Income & Opportunities Fund | 15.39% | 14.46% | 12.27% | 16.02% | 13.82% | 4.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PKBIX Payden/Kravitz Cash Balance Plan Fund | 8.09% | 8.25% | 6.95% | 5.55% | 1.94% | 2.18% | 3.57% | 3.32% | 3.27% | 2.50% | 1.70% | 2.00% |
Frequently Asked Questions
PKBIX and BRW have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BRW has higher volatility (3.33%) compared to PKBIX (0.33%). In terms of maximum drawdown, PKBIX dropped -19.17% vs BRW's -17.74%.
PKBIX currently has the higher Sharpe Ratio (2.93 vs -0.43), 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 PKBIX 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