PSRAX vs. BRW
PSRAX (Pioneer Strategic Income Fund) and BRW (Saba Capital Income & Opportunities Fund) are both Multisector Bonds funds. Over the past 5 years, PSRAX returned 1.13%/yr vs 6.64%/yr for BRW. At a 0.13 correlation, their price movements are largely independent. PSRAX charges 1.01%/yr vs 1.71%/yr for BRW.
Performance
PSRAX vs. BRW - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PSRAX achieves a 0.49% return, which is significantly lower than BRW's 3.52% return.
PSRAX
- 1D
- -0.10%
- 1M
- -0.35%
- 6M
- 0.39%
- YTD
- 0.49%
- 1Y
- 5.30%
- 3Y*
- 5.98%
- 5Y*
- 1.13%
- 10Y*
- 2.90%
BRW
- 1D
- 0.76%
- 1M
- 2.67%
- 6M
- 3.59%
- YTD
- 3.52%
- 1Y
- -4.66%
- 3Y*
- 9.80%
- 5Y*
- 6.64%
- 10Y*
- —
PSRAX vs. BRW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PSRAX Pioneer Strategic Income Fund | 0.49% | 10.29% | 2.79% | 7.08% | -13.38% | 1.38% |
BRW Saba Capital Income & Opportunities Fund | 3.52% | 5.89% | 12.16% | 18.49% | -4.64% | 3.19% |
Correlation
The correlation between PSRAX and BRW is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since May 5, 2021 | 0.13 |
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
PSRAX vs. BRW — Risk / Return Rank
PSRAX
BRW
PSRAX vs. BRW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pioneer Strategic Income Fund (PSRAX) 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.
| PSRAX | BRW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.63 | ||
| Sortino ratioReturn per unit of downside risk | +2.26 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 0.95 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 1.53 | -0.26 | +1.79 |
| Martin ratioReturn relative to average drawdown | 4.87 | -0.45 | +5.32 |
Loading charts...
Drawdowns
PSRAX vs. BRW - Drawdown Comparison
The maximum PSRAX drawdown since its inception was -18.59%, roughly equal to the maximum BRW drawdown of -17.74%. Use the drawdown chart below to compare losses from any high point for PSRAX and BRW.
Loading charts...
Drawdown Indicators
| PSRAX | BRW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.59% | -17.74% | -0.85% |
Max Drawdown (1Y)Largest decline over 1 year | -3.20% | -17.74% | +14.54% |
Max Drawdown (3Y)Largest decline over 3 years | -6.81% | -17.74% | +10.93% |
Max Drawdown (5Y)Largest decline over 5 years | -18.59% | -17.74% | -0.85% |
Max Drawdown (10Y)Largest decline over 10 years | -18.59% | — | — |
Current DrawdownCurrent decline from peak | -1.53% | -8.78% | +7.25% |
Average DrawdownAverage peak-to-trough decline | -2.22% | -4.05% | +1.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.00% | 10.41% | -9.41% |
Volatility
PSRAX vs. BRW - Volatility Comparison
The current volatility for Pioneer Strategic Income Fund (PSRAX) is 1.12%, while Saba Capital Income & Opportunities Fund (BRW) has a volatility of 3.36%. This indicates that PSRAX 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
| PSRAX | BRW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 3.36% | -2.24% |
Volatility (6M)Calculated over the trailing 6-month period | 3.03% | 8.38% | -5.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.80% | 13.45% | -9.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.43% | 12.97% | -7.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.78% | 12.87% | -8.09% |
PSRAX vs. BRW - Expense Ratio Comparison
PSRAX has a 1.01% expense ratio, which is lower than BRW's 1.71% expense ratio.
Dividends
PSRAX vs. BRW - Dividend Comparison
PSRAX's dividend yield for the trailing twelve months is around 4.81%, less than BRW's 15.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BRW Saba Capital Income & Opportunities Fund | 15.34% | 14.46% | 12.27% | 16.02% | 13.82% | 4.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PSRAX Pioneer Strategic Income Fund | 4.81% | 4.83% | 3.65% | 2.58% | 2.75% | 8.10% | 3.28% | 2.87% | 3.15% | 3.20% | 3.39% | 3.62% |
Frequently Asked Questions
PSRAX 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 (3.36%) compared to PSRAX (1.12%). In terms of maximum drawdown, PSRAX dropped -18.59% vs BRW's -17.74%.
PSRAX currently has the higher Sharpe Ratio (1.28 vs -0.35), 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 PSRAX 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