AWF vs TYO
AWF vs TYO
AllianceBernstein Global High Income Fund vs Direxion Daily 7-10 Year Treasury Bear 3X ETF
Quick Verdict
TYO delivered stronger 1-year returns. AWF offers more diversification with 707 holdings.
Side-by-Side Comparison
| Metric | AWF | TYO | Winner |
|---|---|---|---|
| Expense Ratio | 1.00% | 1.00% | |
| AUM | $969M | $12M | |
| Dividend Yield | 6.92% | 2.62% | |
| Holdings | 1,273 | 6 | |
| YTD Return | -1.51% | +10.84% | |
| 1Y Return | -2.78% | +11.31% | |
| 3Y Return (annualized) | +8.35% | +6.14% | |
| 5Y Return (annualized) | +3.44% | +14.69% | |
| Volatility (annualized) | 18.2% | 19.3% | |
| Max Drawdown | -60.0% | -90.4% | |
| Fund Family | AllianceBernstein L.P. | Direxion Shares ETF Trust | |
| Category | Fixed Income | Alternative | |
| Inception | Jul 28, 1993 | Apr 16, 2009 |
AWF vs TYO Performance
AllianceBernstein Global High Income Fund (AWF) is a ETF from AllianceBernstein L.P. and Direxion Daily 7-10 Year Treasury Bear 3X ETF (TYO) is a ETF from Direxion Shares ETF Trust. Over the past year AWF returned -2.78% while TYO returned +11.31%. Year to date, AWF is down 1.51% versus a gain of 10.84% for TYO.
Over three years, AWF compounded at +8.35% per year against +6.14% for TYO; over five years the annualized figures are +3.44% and +14.69% respectively. Across the full 17-year window we track, AWF has the edge at +0.90% annualized vs -7.26%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TYO has been the more volatile fund, with annualized monthly volatility of 19.3% 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 -90.4% for TYO. 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 -0.13. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
AWF charges 1.00% per year while TYO charges 1.00%. On a $10,000 position that is $100 vs $100 annually. On income, AWF currently yields 6.92% against 2.62% for TYO.
Holdings Overlap
AWF and TYO share 0 holdings out of 710 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 TYO?
AWF has an expense ratio of 1.00% while TYO charges 1.00%. They cost the same. On a $10,000 investment, that is $0 per year of difference.
Which performed better, AWF or TYO?
Over the past year AWF returned -2.78% vs +11.31% for TYO, so TYO leads on 1-year performance. Over the longest common window we track (17 years), AWF annualized +0.90% vs -7.26% for TYO. Past performance does not guarantee future results.
Which is riskier, AWF or TYO?
TYO has been the more volatile fund at 19.3% annualized versus 18.2% for AWF. Worst drawdown: AWF -60.0% vs TYO -90.4%.
Should I hold both AWF and TYO?
AWF and TYO have a monthly-return correlation of -0.13, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between AWF and TYO?
AWF and TYO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 710 unique securities.
Which pays a higher dividend, AWF or TYO?
AWF yields 6.92% while TYO yields 2.62%, so AWF currently pays the higher dividend yield.
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