SABA vs. PYGSX
SABA (Saba Capital Income & Opportunities Fund II) and PYGSX (Payden Global Low Duration Fund) are both Global Bonds funds. Over the past 10 years, SABA returned 2.87%/yr vs 2.44%/yr for PYGSX. Their 0.10 correlation means their historical movements had little consistent relationship.
Performance
SABA vs. PYGSX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SABA achieves a 4.89% return, which is significantly higher than PYGSX's 0.96% return. Over the past 10 years, SABA has outperformed PYGSX with an annualized return of 2.87%, while PYGSX has yielded a comparatively lower 2.44% annualized return.
SABA
- 1D
- -1.20%
- 1M
- -0.02%
- 6M
- 5.57%
- YTD
- 4.89%
- 1Y
- -1.36%
- 3Y*
- 8.95%
- 5Y*
- 3.12%
- 10Y*
- 2.87%
- ALL TIME*
- 7.45%
PYGSX
- 1D
- -0.02%
- 1M
- 0.08%
- 6M
- 0.64%
- YTD
- 0.96%
- 1Y
- 2.96%
- 3Y*
- 5.08%
- 5Y*
- 2.65%
- 10Y*
- 2.44%
- ALL TIME*
- 3.31%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $264.60K | $425.07K | $423.68K |
SABA vs. PYGSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SABA Saba Capital Income & Opportunities Fund II | 4.89% | -0.31% | 31.32% | -2.77% | -9.02% | 1.05% | -6.63% | 8.55% | -1.25% | 4.13% |
PYGSX Payden Global Low Duration Fund | 0.96% | 5.72% | 5.19% | 5.61% | -3.38% | 0.17% | 3.14% | 4.77% | 0.58% | 1.90% |
Correlation
The correlation between SABA and PYGSX is 0.15, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.15 |
Correlation (3Y) Balances recent behavior with more history. | 0.13 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.16 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.11 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 1997 | 0.10 |
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
SABA vs. PYGSX — Risk / Return Rank
SABA
PYGSX
SABA vs. PYGSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saba Capital Income & Opportunities Fund II (SABA) and Payden Global Low Duration Fund (PYGSX). 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 | PYGSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.55 | ||
| Sortino ratioReturn per unit of downside risk | -3.91 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.53 | -0.56 |
| Calmar ratioReturn relative to maximum drawdown | -0.28 | 2.86 | -3.14 |
| Martin ratioReturn relative to average drawdown | -0.53 | 10.84 | -11.37 |
Loading charts...
Drawdowns
SABA vs. PYGSX - Drawdown Comparison
The maximum SABA drawdown since its inception was -32.37%, which is greater than PYGSX's maximum drawdown of -7.29%. Use the drawdown chart below to compare losses from any high point for SABA and PYGSX.
Loading charts...
Drawdown Indicators
| SABA | PYGSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.37% | -7.29% | -25.08% |
Max Drawdown (1Y)Largest decline over 1 year | -10.45% | -1.23% | -9.22% |
Max Drawdown (3Y)Largest decline over 3 years | -14.96% | -1.23% | -13.73% |
Max Drawdown (5Y)Largest decline over 5 years | -19.76% | -5.38% | -14.38% |
Max Drawdown (10Y)Largest decline over 10 years | -31.39% | -7.29% | -24.10% |
Current DrawdownCurrent decline from peak | -4.17% | -0.04% | -4.13% |
Average DrawdownAverage peak-to-trough decline | -7.55% | -0.49% | -7.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.57% | 0.32% | +5.25% |
Volatility
SABA vs. PYGSX - Volatility Comparison
Saba Capital Income & Opportunities Fund II (SABA) has a higher volatility of 3.33% compared to Payden Global Low Duration Fund (PYGSX) at 0.41%. This indicates that SABA's price experiences larger fluctuations and is considered to be riskier than PYGSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SABA | PYGSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.33% | 0.41% | +2.92% |
Volatility (6M)Calculated over the trailing 6-month period | 8.63% | 1.21% | +7.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.65% | 1.54% | +10.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.61% | 1.91% | +12.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.64% | 1.76% | +14.88% |
Dividends
SABA vs. PYGSX - Dividend Comparison
SABA's dividend yield for the trailing twelve months is around 9.66%, more than PYGSX's 4.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PYGSX Payden Global Low Duration Fund | 4.74% | 4.63% | 4.64% | 3.84% | 2.14% | 1.68% | 1.78% | 2.74% | 2.51% | 1.68% | 1.19% | 1.20% |
SABA Saba Capital Income & Opportunities Fund II | 9.66% | 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 PYGSX have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SABA has higher volatility (3.33%) compared to PYGSX (0.41%). In terms of maximum drawdown, SABA dropped -32.37% vs PYGSX's -7.29%.
PYGSX currently has the higher Sharpe Ratio (2.29 vs -0.25), 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 SABA and PYGSX
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