PONCX vs. BRW
PONCX (PIMCO Income Fund Class C) and BRW (Saba Capital Income & Opportunities Fund) are both Multisector Bonds funds. Both are actively managed. Over the past 5 years, PONCX returned 2.26%/yr vs 6.41%/yr for BRW. At a 0.20 correlation, their price movements are largely independent. PONCX charges 1.69%/yr vs 1.71%/yr for BRW.
Performance
PONCX vs. BRW - Performance Comparison
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Returns By Period
In the year-to-date period, PONCX achieves a 0.70% return, which is significantly lower than BRW's 0.83% return.
PONCX
- 1D
- 0.37%
- 1M
- 1.00%
- YTD
- 0.70%
- 6M
- 1.01%
- 1Y
- 6.15%
- 3Y*
- 6.22%
- 5Y*
- 2.26%
- 10Y*
- 3.50%
BRW
- 1D
- -0.30%
- 1M
- -2.31%
- YTD
- 0.83%
- 6M
- 1.70%
- 1Y
- -3.55%
- 3Y*
- 9.33%
- 5Y*
- 6.41%
- 10Y*
- —
PONCX vs. BRW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PONCX PIMCO Income Fund Class C | 0.70% | 9.80% | 3.81% | 7.61% | -9.86% | 0.89% |
BRW Saba Capital Income & Opportunities Fund | 0.83% | 5.89% | 12.16% | 18.49% | -4.64% | 3.19% |
Correlation
The correlation between PONCX and BRW is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year 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
PONCX vs. BRW — Risk / Return Rank
PONCX
BRW
PONCX vs. BRW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Income Fund Class C (PONCX) 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.
| PONCX | BRW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.80 | ||
| Sortino ratioReturn per unit of downside risk | +2.49 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 0.96 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 1.68 | -0.20 | +1.88 |
| Martin ratioReturn relative to average drawdown | 5.33 | -0.35 | +5.68 |
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Drawdowns
PONCX vs. BRW - Drawdown Comparison
The maximum PONCX drawdown since its inception was -14.17%, smaller than the maximum BRW drawdown of -17.74%. Use the drawdown chart below to compare losses from any high point for PONCX and BRW.
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Drawdown Indicators
| PONCX | BRW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.17% | -17.74% | +3.57% |
Max Drawdown (1Y)Largest decline over 1 year | -3.69% | -17.74% | +14.05% |
Max Drawdown (3Y)Largest decline over 3 years | -4.12% | -17.74% | +13.62% |
Max Drawdown (5Y)Largest decline over 5 years | -14.17% | -17.74% | +3.57% |
Max Drawdown (10Y)Largest decline over 10 years | -14.17% | — | — |
Current DrawdownCurrent decline from peak | -1.04% | -11.15% | +10.11% |
Average DrawdownAverage peak-to-trough decline | -2.04% | -4.00% | +1.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.16% | 10.21% | -9.05% |
Volatility
PONCX vs. BRW - Volatility Comparison
The current volatility for PIMCO Income Fund Class C (PONCX) is 1.33%, while Saba Capital Income & Opportunities Fund (BRW) has a volatility of 4.39%. This indicates that PONCX 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
| PONCX | BRW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.33% | 4.39% | -3.06% |
Volatility (6M)Calculated over the trailing 6-month period | 3.34% | 8.23% | -4.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.06% | 13.38% | -9.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.78% | 12.94% | -8.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.15% | 12.90% | -8.75% |
PONCX vs. BRW - Expense Ratio Comparison
PONCX has a 1.69% expense ratio, which is lower than BRW's 1.71% expense ratio.
Dividends
PONCX vs. BRW - Dividend Comparison
PONCX's dividend yield for the trailing twelve months is around 4.67%, less than BRW's 15.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BRW Saba Capital Income & Opportunities Fund | 15.54% | 14.46% | 12.27% | 16.02% | 13.82% | 4.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PONCX PIMCO Income Fund Class C | 4.67% | 4.88% | 4.70% | 4.66% | 4.06% | 2.86% | 3.77% | 4.67% | 4.46% | 4.24% | 4.41% | 6.63% |
Frequently Asked Questions
PONCX and BRW have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BRW has higher volatility (4.39%) compared to PONCX (1.33%). In terms of maximum drawdown, PONCX dropped -14.17% vs BRW's -17.74%.
PONCX currently has the higher Sharpe Ratio (1.53 vs -0.27), 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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