SABA vs. VTIBX

Last updated Jun 4, 2026

SABA (Saba Capital Income & Opportunities Fund II) and VTIBX (Vanguard Total International Bond Index Fund) are both Global Bonds funds. Over the past 10 years, SABA returned 2.99%/yr vs 1.70%/yr for VTIBX. At a 0.08 correlation, their price movements are largely independent.

Performance

SABA vs. VTIBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Saba Capital Income & Opportunities Fund II (SABA) and Vanguard Total International Bond Index Fund (VTIBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SABA achieves a 6.57% return, which is significantly higher than VTIBX's 0.60% return. Over the past 10 years, SABA has outperformed VTIBX with an annualized return of 2.99%, while VTIBX has yielded a comparatively lower 1.70% annualized return.

SABA

• 1D: -1.62%
• 1M: 0.80%
• YTD: 6.57%
• 6M: 2.61%
• 1Y: 7.74%
• 3Y*: 11.38%
• 5Y*: 3.68%
• 10Y*: 2.99%

VTIBX

• 1D: 0.10%
• 1M: 0.97%
• YTD: 0.60%
• 6M: 0.54%
• 1Y: 2.13%
• 3Y*: 4.12%
• 5Y*: 0.42%
• 10Y*: 1.70%

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

SABA vs. VTIBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SABA Saba Capital Income & Opportunities Fund II	6.57%	-0.31%	31.32%	-2.77%	-9.02%	1.05%	-6.63%	8.55%	-1.25%	4.13%
VTIBX Vanguard Total International Bond Index Fund	0.60%	2.98%	3.84%	8.86%	-12.97%	-2.27%	4.56%	7.76%	3.00%	2.31%

Correlation

The correlation between SABA and VTIBX is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.17
Correlation (10Y) Calculated over the trailing 10-year period	0.10
Correlation (All Time) Calculated using the full available price history since Jun 5, 2013	0.08

The correlation between SABA and VTIBX shifts across timeframes, from 0.08 (all time) to 0.19 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

SABA vs. VTIBX — Risk / Return Rank

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

SABA

SABA Risk / Return Rank: 8
SABA Sharpe Ratio Rank: 8
SABA Sortino Ratio Rank: 9
SABA Omega Ratio Rank: 8
SABA Calmar Ratio Rank: 8
SABA Martin Ratio Rank: 6

VTIBX

VTIBX Risk / Return Rank: 8
VTIBX Sharpe Ratio Rank: 9
VTIBX Sortino Ratio Rank: 8
VTIBX Omega Ratio Rank: 8
VTIBX Calmar Ratio Rank: 8
VTIBX Martin Ratio Rank: 7

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. VTIBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Saba Capital Income & Opportunities Fund II (SABA) and Vanguard Total International Bond Index Fund (VTIBX). 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.

	SABA	VTIBX	Difference
Sharpe ratio: Return per unit of total volatility	0.66	0.72	-0.06
Sortino ratio: Return per unit of downside risk	1.11	1.03	+0.08
Omega ratio: Gain probability vs. loss probability	1.13	1.13	0.00
Calmar ratio: Return relative to maximum drawdown	0.74	0.76	-0.02
Martin ratio: Return relative to average drawdown	1.46	2.13	-0.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SABA vs. VTIBX - Sharpe Ratio Comparison

The current SABA Sharpe Ratio is 0.66, which is comparable to the VTIBX Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of SABA and VTIBX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SABA	VTIBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.66	0.72	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	0.10	+0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.18	0.47	-0.29
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.70	-0.27

Drawdowns

SABA vs. VTIBX - Drawdown Comparison

The maximum SABA drawdown since its inception was -32.37%, which is greater than VTIBX's maximum drawdown of -16.15%. Use the drawdown chart below to compare losses from any high point for SABA and VTIBX.

Drawdown Indicators

	SABA	VTIBX	Difference
Max Drawdown Largest peak-to-trough decline	-32.37%	-16.15%	-16.22%
Max Drawdown (1Y) Largest decline over 1 year	-10.45%	-2.95%	-7.50%
Max Drawdown (3Y) Largest decline over 3 years	-14.96%	-2.95%	-12.01%
Max Drawdown (5Y) Largest decline over 5 years	-19.94%	-15.81%	-4.13%
Max Drawdown (10Y) Largest decline over 10 years	-31.39%	-16.15%	-15.24%
Current Drawdown Current decline from peak	-2.63%	-1.26%	-1.37%
Average Drawdown Average peak-to-trough decline	-7.57%	-3.07%	-4.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.32%	1.05%	+4.27%

Volatility

SABA vs. VTIBX - Volatility Comparison

Saba Capital Income & Opportunities Fund II (SABA) has a higher volatility of 3.98% compared to Vanguard Total International Bond Index Fund (VTIBX) at 1.42%. This indicates that SABA's price experiences larger fluctuations and is considered to be riskier than VTIBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SABA	VTIBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.98%	1.42%	+2.56%
Volatility (6M) Calculated over the trailing 6-month period	8.17%	2.63%	+5.54%
Volatility (1Y) Calculated over the trailing 1-year period	11.79%	3.12%	+8.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.57%	4.49%	+10.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.66%	3.66%	+13.00%

Dividends

SABA vs. VTIBX - Dividend Comparison

SABA's dividend yield for the trailing twelve months is around 9.38%, more than VTIBX's 4.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SABA Saba Capital Income & Opportunities Fund II	9.38%	9.65%	8.32%	11.43%	9.14%	7.19%	4.00%	6.68%	5.81%	4.44%	4.63%	4.72%
VTIBX Vanguard Total International Bond Index Fund	4.43%	4.33%	4.31%	4.37%	1.41%	3.68%	1.06%	3.36%	2.98%	2.21%	1.76%	1.61%

Frequently Asked Questions

Can I hold both SABA and VTIBX in my portfolio?

SABA and VTIBX have a correlation of 0.16, 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 VTIBX?

SABA has higher volatility (3.98%) compared to VTIBX (1.42%). In terms of maximum drawdown, SABA dropped -32.37% vs VTIBX's -16.15%.

Which has better risk-adjusted returns?

VTIBX currently has the higher Sharpe Ratio (0.72 vs 0.66), 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.