TSI vs. ANGLX
TSI (TCW Strategic Income Fund Inc.) and ANGLX (Angel Oak Multi-Strategy Income Fund) are both Multisector Bonds funds. Over the past 10 years, TSI returned 5.03%/yr vs 2.56%/yr for ANGLX. At a 0.11 correlation, their price movements are largely independent.
Performance
TSI vs. ANGLX - Performance Comparison
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Returns By Period
In the year-to-date period, TSI achieves a -6.74% return, which is significantly lower than ANGLX's 1.85% return. Over the past 10 years, TSI has outperformed ANGLX with an annualized return of 5.03%, while ANGLX has yielded a comparatively lower 2.56% annualized return.
TSI
- 1D
- -0.45%
- 1M
- -0.49%
- YTD
- -6.74%
- 6M
- -4.77%
- 1Y
- -1.89%
- 3Y*
- 6.86%
- 5Y*
- 2.17%
- 10Y*
- 5.03%
ANGLX
- 1D
- 0.11%
- 1M
- 0.76%
- YTD
- 1.85%
- 6M
- 2.35%
- 1Y
- 6.30%
- 3Y*
- 6.94%
- 5Y*
- 1.41%
- 10Y*
- 2.56%
TSI vs. ANGLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TSI TCW Strategic Income Fund Inc. | -6.74% | 9.72% | 13.45% | 7.13% | -14.33% | 8.08% | 3.77% | 17.97% | -3.83% | 16.42% |
ANGLX Angel Oak Multi-Strategy Income Fund | 1.85% | 7.45% | 7.60% | 4.06% | -14.00% | 4.26% | -1.99% | 4.73% | 2.62% | 5.47% |
Correlation
The correlation between TSI and ANGLX is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Jul 7, 2011 | 0.11 |
The correlation between TSI and ANGLX shifts across timeframes, from 0.11 (all time) to 0.26 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
TSI vs. ANGLX — Risk / Return Rank
TSI
ANGLX
TSI vs. ANGLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TCW Strategic Income Fund Inc. (TSI) and Angel Oak Multi-Strategy Income Fund (ANGLX). 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.
| TSI | ANGLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.04 | ||
| Sortino ratioReturn per unit of downside risk | -5.85 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.74 | -0.78 |
| Calmar ratioReturn relative to maximum drawdown | -0.23 | 4.39 | -4.62 |
| Martin ratioReturn relative to average drawdown | -0.52 | 18.62 | -19.14 |
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Drawdowns
TSI vs. ANGLX - Drawdown Comparison
The maximum TSI drawdown since its inception was -60.35%, which is greater than ANGLX's maximum drawdown of -16.40%. Use the drawdown chart below to compare losses from any high point for TSI and ANGLX.
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Drawdown Indicators
| TSI | ANGLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.35% | -16.40% | -43.95% |
Max Drawdown (1Y)Largest decline over 1 year | -8.30% | -1.47% | -6.83% |
Max Drawdown (3Y)Largest decline over 3 years | -8.30% | -1.59% | -6.71% |
Max Drawdown (5Y)Largest decline over 5 years | -18.56% | -14.34% | -4.22% |
Max Drawdown (10Y)Largest decline over 10 years | -30.00% | -16.40% | -13.60% |
Current DrawdownCurrent decline from peak | -6.78% | -0.23% | -6.55% |
Average DrawdownAverage peak-to-trough decline | -7.69% | -2.74% | -4.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.64% | 0.35% | +3.29% |
Volatility
TSI vs. ANGLX - Volatility Comparison
TCW Strategic Income Fund Inc. (TSI) has a higher volatility of 1.48% compared to Angel Oak Multi-Strategy Income Fund (ANGLX) at 0.84%. This indicates that TSI's price experiences larger fluctuations and is considered to be riskier than ANGLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TSI | ANGLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 0.84% | +0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 7.29% | 1.68% | +5.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.38% | 2.30% | +6.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.89% | 2.81% | +8.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.03% | 3.30% | +10.73% |
Dividends
TSI vs. ANGLX - Dividend Comparison
TSI's dividend yield for the trailing twelve months is around 9.19%, more than ANGLX's 5.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ANGLX Angel Oak Multi-Strategy Income Fund | 5.18% | 5.41% | 5.89% | 4.78% | 3.69% | 4.69% | 4.38% | 4.53% | 4.70% | 4.97% | 5.83% | 6.74% |
TSI TCW Strategic Income Fund Inc. | 9.19% | 6.58% | 8.00% | 7.73% | 7.00% | 6.36% | 4.83% | 7.39% | 7.07% | 5.36% | 5.21% | 4.08% |
Frequently Asked Questions
TSI and ANGLX have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSI has higher volatility (1.48%) compared to ANGLX (0.84%). In terms of maximum drawdown, TSI dropped -60.35% vs ANGLX's -16.40%.
ANGLX currently has the higher Sharpe Ratio (2.81 vs -0.23), 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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