SDSAX vs. BRW
SDSAX (Western Asset Income Fund) and BRW (Saba Capital Income & Opportunities Fund) are both Multisector Bonds funds. Over the past 5 years, SDSAX returned 1.61%/yr vs 6.48%/yr for BRW. At a 0.22 correlation, their price movements are largely independent. SDSAX charges 0.92%/yr vs 1.71%/yr for BRW.
Performance
SDSAX vs. BRW - Performance Comparison
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Returns By Period
In the year-to-date period, SDSAX achieves a 0.66% return, which is significantly lower than BRW's 1.14% return.
SDSAX
- 1D
- 0.00%
- 1M
- 0.80%
- YTD
- 0.66%
- 6M
- 1.29%
- 1Y
- 5.35%
- 3Y*
- 6.03%
- 5Y*
- 1.61%
- 10Y*
- 3.32%
BRW
- 1D
- 1.39%
- 1M
- -1.43%
- YTD
- 1.14%
- 6M
- 2.01%
- 1Y
- -3.62%
- 3Y*
- 9.44%
- 5Y*
- 6.48%
- 10Y*
- —
SDSAX vs. BRW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SDSAX Western Asset Income Fund | 0.66% | 7.99% | 4.35% | 9.03% | -13.53% | 2.13% |
BRW Saba Capital Income & Opportunities Fund | 1.14% | 5.89% | 12.16% | 18.49% | -4.64% | 3.19% |
Correlation
The correlation between SDSAX and BRW is 0.17, 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 | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since May 5, 2021 | 0.22 |
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Return for Risk
SDSAX vs. BRW — Risk / Return Rank
SDSAX
BRW
SDSAX vs. BRW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Western Asset Income Fund (SDSAX) and Saba Capital Income & Opportunities Fund (BRW). 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.
| SDSAX | BRW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.86 | ||
| Sortino ratioReturn per unit of downside risk | +2.98 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 0.96 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 1.89 | -0.21 | +2.09 |
| Martin ratioReturn relative to average drawdown | 8.06 | -0.36 | +8.41 |
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Drawdowns
SDSAX vs. BRW - Drawdown Comparison
The maximum SDSAX drawdown since its inception was -27.16%, which is greater than BRW's maximum drawdown of -17.74%. Use the drawdown chart below to compare losses from any high point for SDSAX and BRW.
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Drawdown Indicators
| SDSAX | BRW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.16% | -17.74% | -9.42% |
Max Drawdown (1Y)Largest decline over 1 year | -2.96% | -17.74% | +14.78% |
Max Drawdown (3Y)Largest decline over 3 years | -4.95% | -17.74% | +12.79% |
Max Drawdown (5Y)Largest decline over 5 years | -17.75% | -17.74% | -0.01% |
Max Drawdown (10Y)Largest decline over 10 years | -20.55% | — | — |
Current DrawdownCurrent decline from peak | -0.40% | -10.88% | +10.48% |
Average DrawdownAverage peak-to-trough decline | -2.39% | -4.00% | +1.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | 10.19% | -9.50% |
Volatility
SDSAX vs. BRW - Volatility Comparison
The current volatility for Western Asset Income Fund (SDSAX) is 1.03%, while Saba Capital Income & Opportunities Fund (BRW) has a volatility of 4.44%. This indicates that SDSAX experiences smaller price fluctuations and is considered to be less risky than BRW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SDSAX | BRW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | 4.44% | -3.41% |
Volatility (6M)Calculated over the trailing 6-month period | 2.69% | 8.23% | -5.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.53% | 13.40% | -9.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.64% | 12.94% | -8.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.83% | 12.90% | -8.07% |
SDSAX vs. BRW - Expense Ratio Comparison
SDSAX has a 0.92% expense ratio, which is lower than BRW's 1.71% expense ratio.
Dividends
SDSAX vs. BRW - Dividend Comparison
SDSAX's dividend yield for the trailing twelve months is around 6.28%, less than BRW's 15.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BRW Saba Capital Income & Opportunities Fund | 15.49% | 14.46% | 12.27% | 16.02% | 13.82% | 4.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SDSAX Western Asset Income Fund | 6.28% | 6.85% | 6.05% | 6.54% | 4.78% | 3.39% | 4.48% | 5.69% | 5.97% | 4.90% | 5.14% | 9.07% |
Frequently Asked Questions
SDSAX and BRW have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BRW has higher volatility (4.44%) compared to SDSAX (1.03%). In terms of maximum drawdown, SDSAX dropped -27.16% vs BRW's -17.74%.
SDSAX currently has the higher Sharpe Ratio (1.59 vs -0.27), 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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