AWF vs QQQ
AllianceBernstein Global High Income Fund vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. AWF offers more diversification with 1,273 holdings.
Side-by-Side Comparison
| Metric | AWF | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 1.00% | 0.18% | |
| AUM | $973M | $496.3B | |
| Dividend Yield | 6.98% | 0.44% | |
| Holdings | 1,273 | 108 | |
| YTD Return | -0.58% | +16.23% | |
| 1Y Return | -1.77% | +26.23% | |
| 3Y Return (annualized) | +8.69% | +25.75% | |
| 5Y Return (annualized) | +3.83% | +14.78% | |
| Volatility (annualized) | 18.2% | 30.6% | |
| Max Drawdown | -60.0% | -83.0% | |
| Fund Family | AllianceBernstein L.P. | Invesco (US) | |
| Category | Fixed Income | Equity | |
| Inception | Jul 28, 1993 | Mar 10, 1999 |
AWF vs QQQ Performance
AllianceBernstein Global High Income Fund (AWF) is a ETF from AllianceBernstein L.P. and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year AWF returned -1.77% while QQQ returned +26.23%. Year to date, AWF is down 0.58% versus a gain of 16.23% for QQQ.
Over three years, AWF compounded at +8.69% per year against +25.75% for QQQ; over five years the annualized figures are +3.83% and +14.78% respectively. Across the full 27-year window we track, QQQ has the edge at +13.02% annualized vs +0.93%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 18.2% for AWF. 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 -83.0% for QQQ. 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 0.36. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
AWF charges 1.00% per year while QQQ charges 0.18%. On a $10,000 position that is $100 vs $18 annually, a gap of $82 per year that compounds over a long holding period. On income, AWF currently yields 6.98% against 0.44% for QQQ.
Holdings Overlap
AWF and QQQ share 0 holdings out of 809 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 QQQ?
AWF has an expense ratio of 1.00% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $82 per year of difference.
Which performed better, AWF or QQQ?
Over the past year AWF returned -1.77% vs +26.23% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (27 years), AWF annualized +0.93% vs +13.02% for QQQ. Past performance does not guarantee future results.
Which is riskier, AWF or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 18.2% for AWF. Worst drawdown: AWF -60.0% vs QQQ -83.0%.
Should I hold both AWF and QQQ?
AWF and QQQ have a monthly-return correlation of 0.36, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between AWF and QQQ?
AWF and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 809 unique securities.
Which pays a higher dividend, AWF or QQQ?
AWF yields 6.98% while QQQ yields 0.44%, so AWF currently pays the higher dividend yield.
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