VMSIX vs. BRW
VMSIX (Vanguard Multi-Sector Income Bond Inv) and BRW (Saba Capital Income & Opportunities Fund) are both Multisector Bonds funds. Both are actively managed. Over the past 3 years, VMSIX returned 7.43%/yr vs 9.83%/yr for BRW. At a 0.23 correlation, their price movements are largely independent. VMSIX charges 0.45%/yr vs 1.71%/yr for BRW.
Performance
VMSIX vs. BRW - Performance Comparison
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Returns By Period
In the year-to-date period, VMSIX achieves a 1.35% return, which is significantly lower than BRW's 4.15% return.
VMSIX
- 1D
- 0.11%
- 1M
- -0.02%
- 6M
- 1.13%
- YTD
- 1.35%
- 1Y
- 5.82%
- 3Y*
- 7.43%
- 5Y*
- —
- 10Y*
- —
BRW
- 1D
- -0.60%
- 1M
- 2.04%
- 6M
- 3.76%
- YTD
- 4.15%
- 1Y
- -3.85%
- 3Y*
- 9.83%
- 5Y*
- 7.20%
- 10Y*
- —
VMSIX vs. BRW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
VMSIX Vanguard Multi-Sector Income Bond Inv | 1.35% | 9.09% | 6.68% | 10.43% | -8.50% |
BRW Saba Capital Income & Opportunities Fund | 4.15% | 5.89% | 12.16% | 18.49% | -5.84% |
Correlation
The correlation between VMSIX and BRW is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2022 | 0.23 |
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Return for Risk
VMSIX vs. BRW — Risk / Return Rank
VMSIX
BRW
VMSIX vs. BRW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Multi-Sector Income Bond Inv (VMSIX) 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.
| VMSIX | BRW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.66 | ||
| Sortino ratioReturn per unit of downside risk | +3.79 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 0.96 | +0.54 |
| Calmar ratioReturn relative to maximum drawdown | 2.65 | -0.22 | +2.87 |
| Martin ratioReturn relative to average drawdown | 12.12 | -0.37 | +12.49 |
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Drawdowns
VMSIX vs. BRW - Drawdown Comparison
The maximum VMSIX drawdown since its inception was -13.11%, smaller than the maximum BRW drawdown of -17.74%. Use the drawdown chart below to compare losses from any high point for VMSIX and BRW.
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Drawdown Indicators
| VMSIX | BRW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.11% | -17.74% | +4.63% |
Max Drawdown (1Y)Largest decline over 1 year | -2.20% | -17.74% | +15.54% |
Max Drawdown (3Y)Largest decline over 3 years | -3.82% | -17.74% | +13.92% |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.74% | — |
Current DrawdownCurrent decline from peak | -0.22% | -8.23% | +8.01% |
Average DrawdownAverage peak-to-trough decline | -3.00% | -4.06% | +1.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | 10.44% | -9.96% |
Volatility
VMSIX vs. BRW - Volatility Comparison
The current volatility for Vanguard Multi-Sector Income Bond Inv (VMSIX) is 0.59%, while Saba Capital Income & Opportunities Fund (BRW) has a volatility of 3.37%. This indicates that VMSIX 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
| VMSIX | BRW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.59% | 3.37% | -2.78% |
Volatility (6M)Calculated over the trailing 6-month period | 2.07% | 8.42% | -6.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.47% | 13.46% | -10.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.65% | 12.95% | -8.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.65% | 12.87% | -8.22% |
VMSIX vs. BRW - Expense Ratio Comparison
VMSIX has a 0.45% expense ratio, which is lower than BRW's 1.71% expense ratio.
Dividends
VMSIX vs. BRW - Dividend Comparison
VMSIX's dividend yield for the trailing twelve months is around 5.37%, less than BRW's 15.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
BRW Saba Capital Income & Opportunities Fund | 15.25% | 14.46% | 12.27% | 16.02% | 13.82% | 4.53% |
VMSIX Vanguard Multi-Sector Income Bond Inv | 5.37% | 5.56% | 6.37% | 5.43% | 3.66% | 0.00% |
Frequently Asked Questions
VMSIX and BRW have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BRW has higher volatility (3.37%) compared to VMSIX (0.59%). In terms of maximum drawdown, VMSIX dropped -13.11% vs BRW's -17.74%.
VMSIX currently has the higher Sharpe Ratio (2.37 vs -0.29), 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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