AWF vs INCE
AWF vs INCE
AllianceBernstein Global High Income Fund vs Franklin Income Equity Focus ETF
Quick Verdict
INCE has a lower expense ratio. INCE delivered stronger 1-year returns. AWF offers more diversification with 707 holdings.
Side-by-Side Comparison
| Metric | AWF | INCE | Winner |
|---|---|---|---|
| Expense Ratio | 1.00% | 0.29% | |
| AUM | $969M | $132M | |
| Dividend Yield | 6.92% | 4.82% | |
| Holdings | 1,273 | 82 | |
| YTD Return | -1.51% | +15.94% | |
| 1Y Return | -2.78% | +26.30% | |
| 3Y Return (annualized) | +8.35% | +16.63% | |
| 5Y Return (annualized) | +3.44% | +10.93% | |
| Volatility (annualized) | 18.2% | 13.8% | |
| Max Drawdown | -60.0% | -34.1% | |
| Fund Family | AllianceBernstein L.P. | Franklin Templeton Investments (US) | |
| Category | Fixed Income | Equity | |
| Inception | Jul 28, 1993 | Sep 20, 2016 |
AWF vs INCE Performance
AllianceBernstein Global High Income Fund (AWF) is a ETF from AllianceBernstein L.P. and Franklin Income Equity Focus ETF (INCE) is a ETF from Franklin Templeton Investments (US). Over the past year AWF returned -2.78% while INCE returned +26.30%. Year to date, AWF is down 1.51% versus a gain of 15.94% for INCE.
Over three years, AWF compounded at +8.35% per year against +16.63% for INCE; over five years the annualized figures are +3.44% and +10.93% respectively. Across the full 10-year window we track, INCE has the edge at +12.53% annualized vs +0.90%. 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 13.8% for INCE. 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 -34.1% for INCE. 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 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
AWF charges 1.00% per year while INCE charges 0.29%. On a $10,000 position that is $100 vs $29 annually, a gap of $71 per year that compounds over a long holding period. On income, AWF currently yields 6.92% against 4.82% for INCE.
Holdings Overlap
AWF and INCE share 0 holdings out of 754 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, AWF or INCE?
AWF has an expense ratio of 1.00% while INCE charges 0.29%. INCE is the cheaper option. On a $10,000 investment, that is $71 per year of difference.
Which performed better, AWF or INCE?
Over the past year AWF returned -2.78% vs +26.30% for INCE, so INCE leads on 1-year performance. Over the longest common window we track (10 years), AWF annualized +0.90% vs +12.53% for INCE. Past performance does not guarantee future results.
Which is riskier, AWF or INCE?
AWF has been the more volatile fund at 18.2% annualized versus 13.8% for INCE. Worst drawdown: AWF -60.0% vs INCE -34.1%.
Should I hold both AWF and INCE?
AWF and INCE have a monthly-return correlation of 0.77, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between AWF and INCE?
AWF and INCE share 0 common holdings with a 0.0% weight overlap. Combined, they hold 754 unique securities.
Which pays a higher dividend, AWF or INCE?
AWF yields 6.92% while INCE yields 4.82%, so AWF currently pays the higher dividend yield.
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