SABA vs. FBIIX
SABA (Saba Capital Income & Opportunities Fund II) and FBIIX (Fidelity International Bond Index Fund) are both Global Bonds funds. Over the past 5 years, SABA returned 2.97%/yr vs 0.81%/yr for FBIIX. At a 0.12 correlation, their price movements are largely independent.
Performance
SABA vs. FBIIX - Performance Comparison
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Returns By Period
In the year-to-date period, SABA achieves a 2.89% return, which is significantly higher than FBIIX's 1.16% return.
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%
FBIIX
- 1D
- -0.22%
- 1M
- 0.88%
- YTD
- 1.16%
- 6M
- 1.27%
- 1Y
- 2.22%
- 3Y*
- 4.16%
- 5Y*
- 0.81%
- 10Y*
- —
SABA vs. FBIIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SABA Saba Capital Income & Opportunities Fund II | 2.89% | -0.31% | 31.32% | -2.77% | -9.02% | 1.05% | -6.63% | 1.21% |
FBIIX Fidelity International Bond Index Fund | 1.16% | 2.66% | 4.64% | 7.48% | -10.84% | -1.84% | 4.43% | -1.13% |
Correlation
The correlation between SABA and FBIIX is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2019 | 0.12 |
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Return for Risk
SABA vs. FBIIX — Risk / Return Rank
SABA
FBIIX
SABA vs. FBIIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saba Capital Income & Opportunities Fund II (SABA) and Fidelity International Bond Index Fund (FBIIX). 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.
| SABA | FBIIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.88 | ||
| Sortino ratioReturn per unit of downside risk | -1.21 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.14 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | -0.16 | 0.80 | -0.96 |
| Martin ratioReturn relative to average drawdown | -0.31 | 2.18 | -2.48 |
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Drawdowns
SABA vs. FBIIX - Drawdown Comparison
The maximum SABA drawdown since its inception was -32.37%, which is greater than FBIIX's maximum drawdown of -13.79%. Use the drawdown chart below to compare losses from any high point for SABA and FBIIX.
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Drawdown Indicators
| SABA | FBIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.37% | -13.79% | -18.58% |
Max Drawdown (1Y)Largest decline over 1 year | -10.45% | -2.78% | -7.67% |
Max Drawdown (3Y)Largest decline over 3 years | -14.96% | -2.78% | -12.18% |
Max Drawdown (5Y)Largest decline over 5 years | -19.76% | -13.74% | -6.02% |
Max Drawdown (10Y)Largest decline over 10 years | -31.39% | — | — |
Current DrawdownCurrent decline from peak | -6.00% | -0.79% | -5.21% |
Average DrawdownAverage peak-to-trough decline | -7.56% | -4.10% | -3.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.42% | 1.02% | +4.40% |
Volatility
SABA vs. FBIIX - Volatility Comparison
Saba Capital Income & Opportunities Fund II (SABA) has a higher volatility of 2.98% compared to Fidelity International Bond Index Fund (FBIIX) at 0.85%. This indicates that SABA's price experiences larger fluctuations and is considered to be riskier than FBIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SABA | FBIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.98% | 0.85% | +2.13% |
Volatility (6M)Calculated over the trailing 6-month period | 8.25% | 2.67% | +5.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.69% | 3.04% | +8.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.58% | 3.59% | +10.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.65% | 3.42% | +13.23% |
Dividends
SABA vs. FBIIX - Dividend Comparison
SABA's dividend yield for the trailing twelve months is around 9.78%, more than FBIIX's 4.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBIIX Fidelity International Bond Index Fund | 4.16% | 4.09% | 3.44% | 2.85% | 1.02% | 0.62% | 0.74% | 0.17% | 0.00% | 0.00% | 0.00% | 0.00% |
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
SABA and FBIIX have a correlation of 0.22, 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 FBIIX (0.85%). In terms of maximum drawdown, SABA dropped -32.37% vs FBIIX's -13.79%.
FBIIX currently has the higher Sharpe Ratio (0.74 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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