SABA vs. UDBPX

Last updated Jun 25, 2026

SABA (Saba Capital Income & Opportunities Fund II) and UDBPX (UBS Sustainable Development Bank Bond Fund) are both Global Bonds funds. Over the past 5 years, SABA returned 3.12%/yr vs 0.16%/yr for UDBPX. At a 0.09 correlation, their price movements are largely independent.

Performance

SABA vs. UDBPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Saba Capital Income & Opportunities Fund II (SABA) and UBS Sustainable Development Bank Bond Fund (UDBPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SABA achieves a 4.03% return, which is significantly higher than UDBPX's -0.36% return.

SABA

• 1D: 1.11%
• 1M: -1.46%
• YTD: 4.03%
• 6M: 3.65%
• 1Y: -0.36%
• 3Y*: 9.51%
• 5Y*: 3.12%
• 10Y*: 2.91%

UDBPX

• 1D: -0.21%
• 1M: 0.00%
• YTD: -0.36%
• 6M: -0.47%
• 1Y: 2.36%
• 3Y*: 3.56%
• 5Y*: 0.16%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SABA vs. UDBPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SABA Saba Capital Income & Opportunities Fund II	4.03%	-0.31%	31.32%	-2.77%	-9.02%	1.05%	-6.63%	8.55%	-0.35%
UDBPX UBS Sustainable Development Bank Bond Fund	-0.36%	6.96%	1.55%	4.53%	-10.41%	-2.43%	6.80%	6.79%	2.03%

Correlation

The correlation between SABA and UDBPX is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (All Time) Calculated using the full available price history since Oct 29, 2018	0.09

Return for Risk

SABA vs. UDBPX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SABA

SABA Risk / Return Rank: 3
SABA Sharpe Ratio Rank: 3
SABA Sortino Ratio Rank: 3
SABA Omega Ratio Rank: 3
SABA Calmar Ratio Rank: 3
SABA Martin Ratio Rank: 3

UDBPX

UDBPX Risk / Return Rank: 13
UDBPX Sharpe Ratio Rank: 12
UDBPX Sortino Ratio Rank: 13
UDBPX Omega Ratio Rank: 12
UDBPX Calmar Ratio Rank: 16
UDBPX Martin Ratio Rank: 14

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SABA vs. UDBPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Saba Capital Income & Opportunities Fund II (SABA) and UBS Sustainable Development Bank Bond Fund (UDBPX). 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	UDBPX	Difference
Sharpe ratio: Return per unit of total volatility	-0.03	0.81	-0.84
Sortino ratio: Return per unit of downside risk	0.04	1.23	-1.19
Omega ratio: Gain probability vs. loss probability	1.00	1.15	-0.14
Calmar ratio: Return relative to maximum drawdown	-0.03	1.22	-1.25
Martin ratio: Return relative to average drawdown	-0.07	3.32	-3.39

SABA vs. UDBPX - Sharpe Ratio Comparison

The current SABA Sharpe Ratio is -0.03, which is lower than the UDBPX Sharpe Ratio of 0.81. The chart below compares the historical Sharpe Ratios of SABA and UDBPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SABA vs. UDBPX - Drawdown Comparison

The maximum SABA drawdown since its inception was -32.37%, which is greater than UDBPX's maximum drawdown of -15.45%. Use the drawdown chart below to compare losses from any high point for SABA and UDBPX.

Drawdown Indicators

	SABA	UDBPX	Difference
Max Drawdown Largest peak-to-trough decline	-32.37%	-15.45%	-16.92%
Max Drawdown (1Y) Largest decline over 1 year	-10.45%	-2.25%	-8.20%
Max Drawdown (3Y) Largest decline over 3 years	-14.96%	-4.03%	-10.93%
Max Drawdown (5Y) Largest decline over 5 years	-19.76%	-14.55%	-5.21%
Max Drawdown (10Y) Largest decline over 10 years	-31.39%	—	—
Current Drawdown Current decline from peak	-4.96%	-1.85%	-3.11%
Average Drawdown Average peak-to-trough decline	-7.56%	-5.08%	-2.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.43%	0.80%	+4.63%

Volatility

SABA vs. UDBPX - Volatility Comparison

Saba Capital Income & Opportunities Fund II (SABA) has a higher volatility of 3.22% compared to UBS Sustainable Development Bank Bond Fund (UDBPX) at 1.03%. This indicates that SABA's price experiences larger fluctuations and is considered to be riskier than UDBPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SABA	UDBPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.22%	1.03%	+2.19%
Volatility (6M) Calculated over the trailing 6-month period	8.26%	2.45%	+5.81%
Volatility (1Y) Calculated over the trailing 1-year period	11.73%	3.42%	+8.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.59%	5.00%	+9.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.65%	4.49%	+12.16%

Dividends

SABA vs. UDBPX - Dividend Comparison

SABA's dividend yield for the trailing twelve months is around 9.67%, more than UDBPX's 3.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SABA Saba Capital Income & Opportunities Fund II	9.67%	9.65%	8.32%	11.43%	9.14%	7.19%	4.00%	6.68%	5.81%	4.44%	4.63%	4.72%
UDBPX UBS Sustainable Development Bank Bond Fund	3.33%	3.12%	2.84%	2.15%	1.46%	1.03%	4.11%	2.69%	0.52%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SABA and UDBPX in my portfolio?

SABA and UDBPX 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.

Which is riskier, SABA or UDBPX?

SABA has higher volatility (3.22%) compared to UDBPX (1.03%). In terms of maximum drawdown, SABA dropped -32.37% vs UDBPX's -15.45%.

Which has better risk-adjusted returns?

UDBPX currently has the higher Sharpe Ratio (0.81 vs -0.03), 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.