SABA vs. PRSNX
SABA (Saba Capital Income & Opportunities Fund II) and PRSNX (T. Rowe Price Global Multi-Sector Bond Fund) are both Global Bonds funds. Over the past 10 years, SABA returned 2.71%/yr vs 4.22%/yr for PRSNX. At a 0.22 correlation, their price movements are largely independent.
Performance
SABA vs. PRSNX - Performance Comparison
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Returns By Period
In the year-to-date period, SABA achieves a 4.51% return, which is significantly higher than PRSNX's 2.47% return. Over the past 10 years, SABA has underperformed PRSNX with an annualized return of 2.71%, while PRSNX has yielded a comparatively higher 4.22% annualized return.
SABA
- 1D
- 0.37%
- 1M
- -0.14%
- 6M
- 2.54%
- YTD
- 4.51%
- 1Y
- -0.96%
- 3Y*
- 8.48%
- 5Y*
- 3.19%
- 10Y*
- 2.71%
PRSNX
- 1D
- -0.10%
- 1M
- -0.02%
- 6M
- 2.26%
- YTD
- 2.47%
- 1Y
- 6.04%
- 3Y*
- 9.44%
- 5Y*
- 3.11%
- 10Y*
- 4.22%
SABA vs. PRSNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SABA Saba Capital Income & Opportunities Fund II | 4.51% | -0.31% | 31.32% | -2.77% | -9.02% | 1.05% | -6.63% | 8.55% | -1.25% | 4.13% |
PRSNX T. Rowe Price Global Multi-Sector Bond Fund | 2.47% | 7.28% | 8.77% | 16.74% | -16.27% | 0.40% | 8.16% | 11.94% | 0.45% | 6.47% |
Correlation
The correlation between SABA and PRSNX 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 | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Dec 16, 2008 | 0.22 |
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Return for Risk
SABA vs. PRSNX — Risk / Return Rank
SABA
PRSNX
SABA vs. PRSNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saba Capital Income & Opportunities Fund II (SABA) and T. Rowe Price Global Multi-Sector Bond Fund (PRSNX). 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 | PRSNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.31 | ||
| Sortino ratioReturn per unit of downside risk | -3.95 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.52 | -0.53 |
| Calmar ratioReturn relative to maximum drawdown | -0.09 | 2.80 | -2.90 |
| Martin ratioReturn relative to average drawdown | -0.18 | 12.58 | -12.76 |
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Drawdowns
SABA vs. PRSNX - Drawdown Comparison
The maximum SABA drawdown since its inception was -32.37%, which is greater than PRSNX's maximum drawdown of -19.70%. Use the drawdown chart below to compare losses from any high point for SABA and PRSNX.
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Drawdown Indicators
| SABA | PRSNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.37% | -19.70% | -12.67% |
Max Drawdown (1Y)Largest decline over 1 year | -10.45% | -2.18% | -8.27% |
Max Drawdown (3Y)Largest decline over 3 years | -14.96% | -2.40% | -12.56% |
Max Drawdown (5Y)Largest decline over 5 years | -19.76% | -19.70% | -0.06% |
Max Drawdown (10Y)Largest decline over 10 years | -31.39% | -19.70% | -11.69% |
Current DrawdownCurrent decline from peak | -4.52% | -0.60% | -3.92% |
Average DrawdownAverage peak-to-trough decline | -7.56% | -2.10% | -5.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.51% | 0.48% | +5.03% |
Volatility
SABA vs. PRSNX - Volatility Comparison
Saba Capital Income & Opportunities Fund II (SABA) has a higher volatility of 2.88% compared to T. Rowe Price Global Multi-Sector Bond Fund (PRSNX) at 0.59%. This indicates that SABA's price experiences larger fluctuations and is considered to be riskier than PRSNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SABA | PRSNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.88% | 0.59% | +2.29% |
Volatility (6M)Calculated over the trailing 6-month period | 8.37% | 2.25% | +6.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.84% | 2.74% | +9.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.59% | 4.38% | +10.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.63% | 4.16% | +12.47% |
Dividends
SABA vs. PRSNX - Dividend Comparison
SABA's dividend yield for the trailing twelve months is around 9.70%, more than PRSNX's 5.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRSNX T. Rowe Price Global Multi-Sector Bond Fund | 5.58% | 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 | 9.70% | 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 PRSNX 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 (2.88%) compared to PRSNX (0.59%). In terms of maximum drawdown, SABA dropped -32.37% vs PRSNX's -19.70%.
PRSNX currently has the higher Sharpe Ratio (2.23 vs -0.08), 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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