AWF vs. PSHNX
AWF (AllianceBernstein Global High Income Closed Fund) and PSHNX (Penn Capital Short Duration High Income Fund) are both High Yield Bonds funds. Over the past 5 years, AWF returned 3.85%/yr vs 4.83%/yr for PSHNX. At a 0.44 correlation, their price movements are largely independent. AWF charges 1.00%/yr vs 1.01%/yr for PSHNX.
Performance
AWF vs. PSHNX - Performance Comparison
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Returns By Period
In the year-to-date period, AWF achieves a -1.22% return, which is significantly lower than PSHNX's 2.22% 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%
PSHNX
- 1D
- 0.00%
- 1M
- 0.47%
- 6M
- 2.01%
- YTD
- 2.22%
- 1Y
- 5.88%
- 3Y*
- 7.31%
- 5Y*
- 4.83%
- 10Y*
- —
AWF vs. PSHNX - 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% | 0.84% |
PSHNX Penn Capital Short Duration High Income Fund | 2.22% | 7.72% | 7.19% | 8.72% | -2.26% | 3.43% | 0.88% | 7.40% | 0.61% | 0.65% |
Correlation
The correlation between AWF and PSHNX is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Jul 20, 2017 | 0.44 |
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Return for Risk
AWF vs. PSHNX — Risk / Return Rank
AWF
PSHNX
AWF vs. PSHNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AllianceBernstein Global High Income Closed Fund (AWF) and Penn Capital Short Duration High Income Fund (PSHNX). 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 | PSHNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.23 | ||
| Sortino ratioReturn per unit of downside risk | -5.18 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.75 | -0.77 |
| Calmar ratioReturn relative to maximum drawdown | -0.11 | 5.07 | -5.18 |
| Martin ratioReturn relative to average drawdown | -0.24 | 25.92 | -26.16 |
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Drawdowns
AWF vs. PSHNX - Drawdown Comparison
The maximum AWF drawdown since its inception was -55.54%, which is greater than PSHNX's maximum drawdown of -14.53%. Use the drawdown chart below to compare losses from any high point for AWF and PSHNX.
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Drawdown Indicators
| AWF | PSHNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.54% | -14.53% | -41.01% |
Max Drawdown (1Y)Largest decline over 1 year | -10.19% | -1.14% | -9.05% |
Max Drawdown (3Y)Largest decline over 3 years | -11.12% | -2.83% | -8.29% |
Max Drawdown (5Y)Largest decline over 5 years | -25.25% | -6.02% | -19.23% |
Max Drawdown (10Y)Largest decline over 10 years | -40.12% | — | — |
Current DrawdownCurrent decline from peak | -5.34% | 0.00% | -5.34% |
Average DrawdownAverage peak-to-trough decline | -12.29% | -0.88% | -11.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.61% | 0.22% | +4.39% |
Volatility
AWF vs. PSHNX - Volatility Comparison
AllianceBernstein Global High Income Closed Fund (AWF) has a higher volatility of 2.12% compared to Penn Capital Short Duration High Income Fund (PSHNX) at 0.27%. This indicates that AWF's price experiences larger fluctuations and is considered to be riskier than PSHNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AWF | PSHNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.12% | 0.27% | +1.85% |
Volatility (6M)Calculated over the trailing 6-month period | 7.48% | 1.46% | +6.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.87% | 1.87% | +7.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.12% | 2.65% | +9.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.18% | 3.14% | +12.04% |
AWF vs. PSHNX - Expense Ratio Comparison
AWF has a 1.00% expense ratio, which is lower than PSHNX's 1.01% expense ratio.
Dividends
AWF vs. PSHNX - Dividend Comparison
AWF's dividend yield for the trailing twelve months is around 7.74%, more than PSHNX's 6.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
PSHNX Penn Capital Short Duration High Income Fund | 6.06% | 6.27% | 6.43% | 4.95% | 3.47% | 3.17% | 3.95% | 3.65% | 3.13% | 1.46% | 0.00% | 0.00% |
Frequently Asked Questions
AWF and PSHNX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AWF has higher volatility (2.12%) compared to PSHNX (0.27%). In terms of maximum drawdown, AWF dropped -55.54% vs PSHNX's -14.53%.
PSHNX currently has the higher Sharpe Ratio (3.11 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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