AWF vs. AM
AWF (AllianceBernstein Global High Income Closed Fund) is High Yield Bonds fund actively managed by AllianceBernstein, while AM (Antero Midstream Corporation) is a stock. Over the past 10 years, AWF returned 5.47%/yr vs 6.97%/yr for AM. At a 0.23 correlation, their price movements are largely independent.
Performance
AWF vs. AM - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, AWF achieves a -1.22% return, which is significantly lower than AM's 29.11% return. Over the past 10 years, AWF has underperformed AM with an annualized return of 5.47%, while AM has yielded a comparatively higher 6.97% annualized return.
AWF
- 1D
- -0.68%
- 1M
- 0.64%
- 6M
- -1.19%
- YTD
- -1.22%
- 1Y
- -1.11%
- 3Y*
- 8.80%
- 5Y*
- 3.85%
- 10Y*
- 5.47%
AM
- 1D
- 0.81%
- 1M
- 3.65%
- 6M
- 30.88%
- YTD
- 29.11%
- 1Y
- 35.04%
- 3Y*
- 31.71%
- 5Y*
- 26.05%
- 10Y*
- 6.97%
AWF vs. AM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% | 7.77% |
AM Antero Midstream Corporation | 29.11% | 24.37% | 28.46% | 25.73% | 21.98% | 39.55% | 27.59% | -60.29% | -22.28% | -2.32% |
Correlation
The correlation between AWF and AM is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Nov 5, 2014 | 0.23 |
The correlation between AWF and AM shifts across timeframes, from -0.10 (1 year) to 0.26 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
AWF vs. AM — Risk / Return Rank
AWF
AM
AWF vs. AM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AllianceBernstein Global High Income Closed Fund (AWF) and Antero Midstream Corporation (AM). 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.
| AWF | AM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.81 | ||
| Sortino ratioReturn per unit of downside risk | -2.54 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.29 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.11 | 2.78 | -2.89 |
| Martin ratioReturn relative to average drawdown | -0.24 | 5.87 | -6.11 |
Loading charts...
Drawdowns
AWF vs. AM - Drawdown Comparison
The maximum AWF drawdown since its inception was -55.54%, smaller than the maximum AM drawdown of -93.01%. Use the drawdown chart below to compare losses from any high point for AWF and AM.
Loading charts...
Drawdown Indicators
| AWF | AM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.54% | -93.01% | +37.47% |
Max Drawdown (1Y)Largest decline over 1 year | -10.19% | -12.67% | +2.48% |
Max Drawdown (3Y)Largest decline over 3 years | -11.12% | -13.98% | +2.86% |
Max Drawdown (5Y)Largest decline over 5 years | -25.25% | -21.91% | -3.34% |
Max Drawdown (10Y)Largest decline over 10 years | -40.12% | -93.01% | +52.89% |
Current DrawdownCurrent decline from peak | -5.34% | -3.84% | -1.50% |
Average DrawdownAverage peak-to-trough decline | -12.29% | -31.70% | +19.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.61% | 5.98% | -1.37% |
Volatility
AWF vs. AM - Volatility Comparison
The current volatility for AllianceBernstein Global High Income Closed Fund (AWF) is 2.12%, while Antero Midstream Corporation (AM) has a volatility of 6.39%. This indicates that AWF experiences smaller price fluctuations and is considered to be less risky than AM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| AWF | AM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.12% | 6.39% | -4.27% |
Volatility (6M)Calculated over the trailing 6-month period | 7.48% | 14.47% | -6.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.87% | 20.93% | -12.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.12% | 26.36% | -14.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.18% | 41.88% | -26.70% |
Dividends
AWF vs. AM - Dividend Comparison
AWF's dividend yield for the trailing twelve months is around 7.74%, more than AM's 4.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AM Antero Midstream Corporation | 4.01% | 5.06% | 5.96% | 7.18% | 8.34% | 10.15% | 15.95% | 18.28% | 7.53% | 4.27% | 3.14% | 2.93% |
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
AWF and AM have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AM has higher volatility (6.39%) compared to AWF (2.12%). In terms of maximum drawdown, AWF dropped -55.54% vs AM's -93.01%.
AM currently has the higher Sharpe Ratio (1.69 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.
Find the right allocation for AWF and AM
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer