PRSNX vs. SABA
PRSNX (T. Rowe Price Global Multi-Sector Bond Fund) and SABA (Saba Capital Income & Opportunities Fund II) are both Global Bonds funds. Over the past 10 years, PRSNX returned 3.87%/yr vs 2.80%/yr for SABA. At a 0.21 correlation, their price movements are largely independent.
Performance
PRSNX vs. SABA - Performance Comparison
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Returns By Period
In the year-to-date period, PRSNX achieves a 1.72% return, which is significantly lower than SABA's 2.89% return. Over the past 10 years, PRSNX has outperformed SABA with an annualized return of 3.87%, while SABA has yielded a comparatively lower 2.80% annualized return.
PRSNX
- 1D
- -0.20%
- 1M
- 0.69%
- YTD
- 1.72%
- 6M
- 3.14%
- 1Y
- 7.41%
- 3Y*
- 8.03%
- 5Y*
- 2.13%
- 10Y*
- 3.87%
SABA
- 1D
- -0.37%
- 1M
- -2.54%
- YTD
- 2.89%
- 6M
- 1.91%
- 1Y
- -1.67%
- 3Y*
- 9.11%
- 5Y*
- 2.97%
- 10Y*
- 2.80%
PRSNX vs. SABA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRSNX T. Rowe Price Global Multi-Sector Bond Fund | 1.72% | 9.31% | 5.60% | 12.77% | -16.27% | 0.40% | 8.16% | 11.94% | 0.45% | 6.47% |
SABA Saba Capital Income & Opportunities Fund II | 2.89% | -0.31% | 31.32% | -2.77% | -9.02% | 1.05% | -6.63% | 8.55% | -1.25% | 4.13% |
Correlation
The correlation between PRSNX and SABA is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Dec 16, 2008 | 0.21 |
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Return for Risk
PRSNX vs. SABA — Risk / Return Rank
PRSNX
SABA
PRSNX vs. SABA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Global Multi-Sector Bond Fund (PRSNX) and Saba Capital Income & Opportunities Fund II (SABA). 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.
| PRSNX | SABA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.82 | ||
| Sortino ratioReturn per unit of downside risk | +4.94 | ||
| Omega ratioGain probability vs. loss probability | 1.65 | 0.99 | +0.66 |
| Calmar ratioReturn relative to maximum drawdown | 3.50 | -0.16 | +3.66 |
| Martin ratioReturn relative to average drawdown | 15.65 | -0.31 | +15.95 |
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Drawdowns
PRSNX vs. SABA - Drawdown Comparison
The maximum PRSNX drawdown since its inception was -19.70%, smaller than the maximum SABA drawdown of -32.37%. Use the drawdown chart below to compare losses from any high point for PRSNX and SABA.
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Drawdown Indicators
| PRSNX | SABA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.70% | -32.37% | +12.67% |
Max Drawdown (1Y)Largest decline over 1 year | -2.18% | -10.45% | +8.27% |
Max Drawdown (3Y)Largest decline over 3 years | -2.87% | -14.96% | +12.09% |
Max Drawdown (5Y)Largest decline over 5 years | -19.70% | -19.76% | +0.06% |
Max Drawdown (10Y)Largest decline over 10 years | -19.70% | -31.39% | +11.69% |
Current DrawdownCurrent decline from peak | -0.20% | -6.00% | +5.80% |
Average DrawdownAverage peak-to-trough decline | -2.35% | -7.56% | +5.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | 5.42% | -4.94% |
Volatility
PRSNX vs. SABA - Volatility Comparison
The current volatility for T. Rowe Price Global Multi-Sector Bond Fund (PRSNX) is 0.72%, while Saba Capital Income & Opportunities Fund II (SABA) has a volatility of 2.98%. This indicates that PRSNX experiences smaller price fluctuations and is considered to be less risky than SABA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRSNX | SABA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.72% | 2.98% | -2.26% |
Volatility (6M)Calculated over the trailing 6-month period | 2.30% | 8.25% | -5.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.86% | 11.69% | -8.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.30% | 14.58% | -10.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.13% | 16.65% | -12.52% |
Dividends
PRSNX vs. SABA - Dividend Comparison
PRSNX's dividend yield for the trailing twelve months is around 6.64%, less than SABA's 9.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRSNX T. Rowe Price Global Multi-Sector Bond Fund | 6.64% | 7.87% | 6.36% | 5.08% | 3.30% | 3.95% | 3.68% | 6.33% | 4.89% | 3.59% | 3.44% | 3.60% |
SABA Saba Capital Income & Opportunities Fund II | 9.78% | 9.65% | 8.32% | 11.43% | 9.14% | 7.19% | 4.00% | 6.68% | 5.81% | 4.44% | 4.63% | 4.72% |
Frequently Asked Questions
PRSNX and SABA have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SABA has higher volatility (2.98%) compared to PRSNX (0.72%). In terms of maximum drawdown, PRSNX dropped -19.70% vs SABA's -32.37%.
PRSNX currently has the higher Sharpe Ratio (2.67 vs -0.14), 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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