Alliancebernstein Global High Income Fund (AWF)

FairStock Score: 61/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a value investor, I look first at what I’m buying. AllianceBernstein Global High Income Fund is a closed-end fund holding lower-rated corporate and government bonds globally. That is a credit-selection business, and the figures do not reveal a wide moat; the portfolio’s fate depends on credit spreads and defaults. At the 2026-10-13 close of $9.56, the market cap is $900.7 million. FairStock calculations show a P/E of 12.75 and P/B of 0.86, so the fund trades below book. The 7.87% dividend yield is the main attraction. The Graham Number of $13.73 implies a 30.37% margin of safety, though I am cautious applying that tool to a bond fund. Balance-sheet risk looks low: debt-to-equity is 0.01 and the Altman Z-Score is 23.10. Yet returns are weak: ROE is 6.71%, ROCE is 3.94%, and the Piotroski F-Score is just 1/9. The beta of 0.67 and 52-week range of $9.48 to $11.10 show a defensive but recently weak security near its low. I have no revenue or profit growth data, and FairStock assigns no Lynch category because there are only 0 years of filed results versus the 3 needed. FairStock Score is 61/100. For a fixed income fund, I would want evidence that the distribution is covered and that credit losses are contained. At this price, there is compensation, but not enough evidence to call it a high-quality bargain.

In plain English: AllianceBernstein Global High Income Fund is a closed-end fund that invests mainly in lower-rated corporate and government bonds around the world. It pays a high income stream, trades below its accounting book value, and uses very little debt, but its recent profitability and quality signals look weak. At $9.56, near the low end of its 52-week range, the price looks cheaper than book value but not obviously cheap against earnings.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer