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 4.18%/yr vs 2.88%/yr for SABA. Their 0.22 correlation means their historical movements had little consistent relationship.
Performance
PRSNX vs. SABA - Performance Comparison
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Returns By Period
In the year-to-date period, PRSNX achieves a 2.16% return, which is significantly lower than SABA's 5.27% return. Over the past 10 years, PRSNX has outperformed SABA with an annualized return of 4.18%, while SABA has yielded a comparatively lower 2.88% annualized return.
PRSNX
- 1D
- 0.20%
- 1M
- -0.70%
- 6M
- 1.45%
- YTD
- 2.16%
- 1Y
- 4.79%
- 3Y*
- 8.80%
- 5Y*
- 2.93%
- 10Y*
- 4.18%
- ALL TIME*
- 5.51%
SABA
- 1D
- 0.36%
- 1M
- 0.34%
- 6M
- 6.48%
- YTD
- 5.27%
- 1Y
- -1.00%
- 3Y*
- 9.69%
- 5Y*
- 3.38%
- 10Y*
- 2.88%
- ALL TIME*
- 7.46%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $254.81K | $405.29K | $415.02K |
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 | 2.16% | 7.28% | 8.77% | 16.74% | -16.27% | 0.40% | 8.16% | 11.94% | 0.45% | 6.47% |
SABA Saba Capital Income & Opportunities Fund II | 5.27% | -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 historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.18 |
Correlation (3Y) Balances recent behavior with more history. | 0.21 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.22 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.19 |
Correlation (All Time) Calculated using the full available price history since Dec 16, 2008 | 0.22 |
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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 | +1.82 | ||
| Sortino ratioReturn per unit of downside risk | +3.07 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 0.99 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 2.16 | -0.10 | +2.26 |
| Martin ratioReturn relative to average drawdown | 8.88 | -0.18 | +9.06 |
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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 | -2.40% | -14.96% | +12.56% |
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 | -0.90% | -3.82% | +2.92% |
Average DrawdownAverage peak-to-trough decline | -2.10% | -7.55% | +5.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.52% | 5.58% | -5.06% |
Volatility
PRSNX vs. SABA - Volatility Comparison
The current volatility for T. Rowe Price Global Multi-Sector Bond Fund (PRSNX) is 0.44%, while Saba Capital Income & Opportunities Fund II (SABA) has a volatility of 3.29%. 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 | 0.44% | 3.29% | -2.85% |
Volatility (6M)Calculated over the trailing 6-month period | 2.23% | 8.62% | -6.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.71% | 11.56% | -8.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.38% | 14.60% | -10.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.16% | 16.64% | -12.48% |
Dividends
PRSNX vs. SABA - Dividend Comparison
PRSNX's dividend yield for the trailing twelve months is around 5.21%, less than SABA's 9.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRSNX T. Rowe Price Global Multi-Sector Bond Fund | 5.21% | 6.00% | 9.32% | 8.39% | 3.30% | 3.95% | 3.68% | 6.33% | 4.89% | 3.59% | 3.44% | 3.60% |
SABA Saba Capital Income & Opportunities Fund II | 9.63% | 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 (3.29%) compared to PRSNX (0.44%). In terms of maximum drawdown, PRSNX dropped -19.70% vs SABA's -32.37%.
PRSNX currently has the higher Sharpe Ratio (1.74 vs -0.09), 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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