AWF vs GTOS
AllianceBernstein Global High Income Fund vs Invesco Short Duration Total Return Bond ETF
Quick Verdict
GTOS has a lower expense ratio. GTOS delivered stronger 1-year returns. AWF offers more diversification with 1,273 holdings.
Side-by-Side Comparison
| Metric | AWF | GTOS | Winner |
|---|---|---|---|
| Expense Ratio | 1.00% | 0.30% | |
| AUM | $973M | $124M | |
| Dividend Yield | 6.98% | 4.52% | |
| Holdings | 1,273 | 703 | |
| YTD Return | -0.58% | -0.74% | |
| 1Y Return | -1.77% | +1.17% | |
| 3Y Return (annualized) | +8.69% | +4.69% | |
| 5Y Return (annualized) | +3.83% | - | |
| Volatility (annualized) | 18.2% | 1.9% | |
| Max Drawdown | -60.0% | -1.8% | |
| Fund Family | AllianceBernstein L.P. | Invesco (US) | |
| Category | Fixed Income | Fixed Income | |
| Inception | Jul 28, 1993 | Dec 9, 2022 |
AWF vs GTOS Performance
AllianceBernstein Global High Income Fund (AWF) is a ETF from AllianceBernstein L.P. and Invesco Short Duration Total Return Bond ETF (GTOS) is a ETF from Invesco (US). Over the past year AWF returned -1.77% while GTOS returned +1.17%. Year to date, AWF is down 0.58% versus a loss of 0.74% for GTOS.
Over three years, AWF compounded at +8.69% per year against +4.69% for GTOS. Across the full 4-year window we track, GTOS has the edge at +4.30% annualized vs +0.93%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
AWF has been the more volatile fund, with annualized monthly volatility of 18.2% compared with 1.9% for GTOS. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -60.0% for AWF and -1.8% for GTOS. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.64. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
AWF charges 1.00% per year while GTOS charges 0.30%. On a $10,000 position that is $100 vs $30 annually, a gap of $70 per year that compounds over a long holding period. On income, AWF currently yields 6.98% against 4.52% for GTOS.
Holdings Overlap
AWF and GTOS share 10 holdings out of 956 unique holdings combined, representing a 0.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in AWF | Weight in GTOS | Difference |
|---|---|---|---|
| VIKCRU 5 02/15/28 14 | 0.18% | 0.30% | 0.12% |
| MEDIND 3.875 04/01/2 | 0.03% | 0.40% | 0.37% |
| GAP 3.625 10/01/29 1 | 0.03% | 0.31% | 0.28% |
| GPI 4 08/15/28 144A | Pro | Pro | Pro |
| MPEL 5.625 07/17/27 | Pro | Pro | Pro |
| AL V4.65 PERP B | Pro | Pro | Pro |
| CVS V7 03/10/55 | Pro | Pro | Pro |
| PHIN 6.75 04/15/29 1 | Pro | Pro | Pro |
| HILCRP 5.75 02/01/29 | Pro | Pro | Pro |
| JHXAU 5.875 01/31/31 | Pro | Pro | Pro |
Frequently Asked Questions
Which is cheaper, AWF or GTOS?
AWF has an expense ratio of 1.00% while GTOS charges 0.30%. GTOS is the cheaper option. On a $10,000 investment, that is $70 per year of difference.
Which performed better, AWF or GTOS?
Over the past year AWF returned -1.77% vs +1.17% for GTOS, so GTOS leads on 1-year performance. Over the longest common window we track (4 years), AWF annualized +0.93% vs +4.30% for GTOS. Past performance does not guarantee future results.
Which is riskier, AWF or GTOS?
AWF has been the more volatile fund at 18.2% annualized versus 1.9% for GTOS. Worst drawdown: AWF -60.0% vs GTOS -1.8%.
Should I hold both AWF and GTOS?
AWF and GTOS have a monthly-return correlation of 0.64, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between AWF and GTOS?
AWF and GTOS share 10 common holdings with a 0.7% weight overlap. Combined, they hold 956 unique securities.
Which pays a higher dividend, AWF or GTOS?
AWF yields 6.98% while GTOS yields 4.52%, so AWF currently pays the higher dividend yield.
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