AWF vs IG
AllianceBernstein Global High Income Fund vs Principal Investment Grade Corporate ETF
Quick Verdict
IG has a lower expense ratio. IG delivered stronger 1-year returns. AWF offers more diversification with 707 holdings.
Side-by-Side Comparison
| Metric | AWF | IG | Winner |
|---|---|---|---|
| Expense Ratio | 1.00% | 0.19% | |
| AUM | $969M | $198M | |
| Dividend Yield | 6.92% | 5.07% | |
| Holdings | 1,273 | 248 | |
| YTD Return | -1.51% | -1.54% | |
| 1Y Return | -2.78% | +0.84% | |
| 3Y Return (annualized) | +8.35% | +4.56% | |
| 5Y Return (annualized) | +3.44% | -0.69% | |
| Volatility (annualized) | 18.2% | 8.0% | |
| Max Drawdown | -60.0% | -23.8% | |
| Fund Family | AllianceBernstein L.P. | Principal Funds | |
| Category | Fixed Income | Fixed Income | |
| Inception | Jul 28, 1993 | Apr 18, 2018 |
AWF vs IG Performance
AllianceBernstein Global High Income Fund (AWF) is a ETF from AllianceBernstein L.P. and Principal Investment Grade Corporate ETF (IG) is a ETF from Principal Funds. Over the past year AWF returned -2.78% while IG returned +0.84%. Year to date, AWF is down 1.51% versus a loss of 1.54% for IG.
Over three years, AWF compounded at +8.35% per year against +4.56% for IG; over five years the annualized figures are +3.44% and -0.69% respectively. Across the full 8-year window we track, AWF has the edge at +0.90% annualized vs +0.59%. 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 8.0% for IG. 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 -23.8% for IG. 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 0.70. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
AWF charges 1.00% per year while IG charges 0.19%. On a $10,000 position that is $100 vs $19 annually, a gap of $81 per year that compounds over a long holding period. On income, AWF currently yields 6.92% against 5.07% for IG.
Holdings Overlap
AWF and IG share 3 holdings out of 849 unique holdings combined, representing a 0.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in AWF | Weight in IG | Difference |
|---|---|---|---|
| JANEST 6.75 05/01/33 | 0.14% | 0.73% | 0.59% |
| CABKSM V5.581 07/03/ | 0.06% | 0.40% | 0.34% |
| KEY V6.401 03/06/35 | 0.00% | 0.18% | 0.18% |
Frequently Asked Questions
Which is cheaper, AWF or IG?
AWF has an expense ratio of 1.00% while IG charges 0.19%. IG is the cheaper option. On a $10,000 investment, that is $81 per year of difference.
Which performed better, AWF or IG?
Over the past year AWF returned -2.78% vs +0.84% for IG, so IG leads on 1-year performance. Over the longest common window we track (8 years), AWF annualized +0.90% vs +0.59% for IG. Past performance does not guarantee future results.
Which is riskier, AWF or IG?
AWF has been the more volatile fund at 18.2% annualized versus 8.0% for IG. Worst drawdown: AWF -60.0% vs IG -23.8%.
Should I hold both AWF and IG?
AWF and IG have a monthly-return correlation of 0.70, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between AWF and IG?
AWF and IG share 3 common holdings with a 0.2% weight overlap. Combined, they hold 849 unique securities.
Which pays a higher dividend, AWF or IG?
AWF yields 6.92% while IG yields 5.07%, so AWF currently pays the higher dividend yield.
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