ABIMX vs. AWF
ABIMX (AB Impact Municipal Income Shares) and AWF (AllianceBernstein Global High Income Closed Fund) are both mutual funds - ABIMX is a Municipal Bonds fund managed by AllianceBernstein, while AWF is a High Yield Bonds fund actively managed by AllianceBernstein. Over the past 5 years, ABIMX returned 0.68%/yr vs 4.31%/yr for AWF. At a 0.18 correlation, their price movements are largely independent. ABIMX charges 0.00%/yr vs 1.00%/yr for AWF.
Performance
ABIMX vs. AWF - Performance Comparison
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Returns By Period
In the year-to-date period, ABIMX achieves a 2.52% return, which is significantly higher than AWF's -1.22% return.
ABIMX
- 1D
- -0.10%
- 1M
- 0.05%
- 6M
- 2.10%
- YTD
- 2.52%
- 1Y
- 9.48%
- 3Y*
- 4.43%
- 5Y*
- 0.68%
- 10Y*
- —
AWF
- 1D
- -0.20%
- 1M
- 0.05%
- 6M
- -0.44%
- YTD
- -1.22%
- 1Y
- -1.11%
- 3Y*
- 9.05%
- 5Y*
- 4.31%
- 10Y*
- 5.41%
ABIMX vs. AWF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ABIMX AB Impact Municipal Income Shares | 2.52% | 3.54% | 2.70% | 7.90% | -12.57% | 3.80% | 5.87% | 10.74% | 1.15% | 1.37% |
AWF AllianceBernstein Global High Income Closed Fund | -1.22% | 7.54% | 14.30% | 18.37% | -16.62% | 9.95% | 4.40% | 23.40% | -11.35% | 0.61% |
Correlation
The correlation between ABIMX and AWF is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Sep 12, 2017 | 0.18 |
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Return for Risk
ABIMX vs. AWF — Risk / Return Rank
ABIMX
AWF
ABIMX vs. AWF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AB Impact Municipal Income Shares (ABIMX) and AllianceBernstein Global High Income Closed Fund (AWF). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ABIMX | AWF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.71 | ||
| Sortino ratioReturn per unit of downside risk | +4.20 | ||
| Omega ratioGain probability vs. loss probability | 1.63 | 0.99 | +0.64 |
| Calmar ratioReturn relative to maximum drawdown | 2.62 | -0.11 | +2.73 |
| Martin ratioReturn relative to average drawdown | 10.31 | -0.24 | +10.55 |
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Drawdowns
ABIMX vs. AWF - Drawdown Comparison
The maximum ABIMX drawdown since its inception was -18.15%, smaller than the maximum AWF drawdown of -55.54%. Use the drawdown chart below to compare losses from any high point for ABIMX and AWF.
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Drawdown Indicators
| ABIMX | AWF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.15% | -55.54% | +37.39% |
Max Drawdown (1Y)Largest decline over 1 year | -3.45% | -10.19% | +6.74% |
Max Drawdown (3Y)Largest decline over 3 years | -8.12% | -11.12% | +3.00% |
Max Drawdown (5Y)Largest decline over 5 years | -18.15% | -25.25% | +7.10% |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.12% | — |
Current DrawdownCurrent decline from peak | -0.72% | -5.34% | +4.62% |
Average DrawdownAverage peak-to-trough decline | -3.88% | -12.28% | +8.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 4.65% | -3.76% |
Volatility
ABIMX vs. AWF - Volatility Comparison
The current volatility for AB Impact Municipal Income Shares (ABIMX) is 0.73%, while AllianceBernstein Global High Income Closed Fund (AWF) has a volatility of 2.10%. This indicates that ABIMX experiences smaller price fluctuations and is considered to be less risky than AWF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ABIMX | AWF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.73% | 2.10% | -1.37% |
Volatility (6M)Calculated over the trailing 6-month period | 2.73% | 7.48% | -4.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.52% | 8.85% | -5.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.17% | 12.10% | -6.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.24% | 15.18% | -9.94% |
ABIMX vs. AWF - Expense Ratio Comparison
ABIMX has a 0.00% expense ratio, which is lower than AWF's 1.00% expense ratio.
Dividends
ABIMX vs. AWF - Dividend Comparison
ABIMX's dividend yield for the trailing twelve months is around 4.27%, less than AWF's 7.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ABIMX AB Impact Municipal Income Shares | 4.27% | 4.13% | 3.38% | 2.59% | 3.00% | 2.07% | 2.90% | 3.27% | 3.14% | 0.86% | 0.00% | 0.00% |
AWF AllianceBernstein Global High Income Closed Fund | 7.74% | 7.81% | 7.47% | 7.33% | 10.30% | 6.48% | 6.68% | 6.62% | 7.97% | 6.03% | 7.73% | 10.28% |
Frequently Asked Questions
ABIMX and AWF have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AWF has higher volatility (2.10%) compared to ABIMX (0.73%). In terms of maximum drawdown, ABIMX dropped -18.15% vs AWF's -55.54%.
ABIMX currently has the higher Sharpe Ratio (2.59 vs -0.13), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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