Head to Head Review: AllianceBernstein Global High Income Fund vs. Oxford Square Capital

In this article, we will compare two investment options: the AllianceBernstein Global High Income Fund (NYSE:AWF) and Oxford Square Capital (NASDAQ:OXSQ). We will discuss their earnings, dividends, ownership, profitability, risk, and more to help you understand how they stack up against each other.

Earnings & Valuation

Here we summarize the earnings and valuation metrics for both funds, focusing on their revenue, earnings per share (EPS), and price-to-earnings ratios.

	Gross Revenue	Price/Sales Ratio	Net Income	Earnings Per Share	Price/Earnings Ratio
AllianceBernstein Global High Income Fund	N/A	N/A	N/A	N/A	N/A
Oxford Square Capital	$51.82 million	3.46	$17.24 million	($0.10)	-26.40

From the data, it is clear that Oxford Square Capital has higher revenue and earnings than AllianceBernstein Global High Income Fund.

Dividends

AllianceBernstein Global High Income Fund offers an annual dividend of $0.79 per share with a yield of 7.3%. On the other hand, Oxford Square Capital provides an annual dividend of $0.42 per share, yielding 15.9%. Notably, Oxford Square Capital pays out an astonishing -420.0% of its earnings as dividends.

Institutional and Insider Ownership

When it comes to ownership, 6.4% of Oxford Square Capital shares are held by institutional investors, while only 1.0% of AllianceBernstein Global High Income Fund shares are owned by insiders. Additionally, 10.4% of Oxford Square Capital shares are owned by insiders. This suggests a stronger institutional belief in the potential for Oxford Square Capital to outperform the market over time.

Profitability

In terms of profitability metrics, we can compare net margins, return on equity, and return on assets.

	Net Margins	Return on Equity	Return on Assets
AllianceBernstein Global High Income Fund	N/A	N/A	N/A
Oxford Square Capital	-10.48%	18.58%	9.76%

Risk & Volatility

Analyzing risk through beta values, we find that AllianceBernstein Global High Income Fund has a beta of 0.8, indicating it is 20% less volatile than the S&P 500. In contrast, Oxford Square Capital has a beta of 1.07, suggesting it is 7% more volatile than the S&P 500.

Summary

Overall, Oxford Square Capital outperforms AllianceBernstein Global High Income Fund in 8 out of 9 factors analyzed.

About AllianceBernstein Global High Income Fund

AllianceBernstein Global High Income Fund is a closed-end fixed income mutual fund managed by AllianceBernstein L.P. The fund invests in global fixed income markets, focusing primarily on lower-rated corporate debt and government bonds. Using both fundamental and quantitative analysis, the fund builds its investment portfolio. It benchmarks its performance against a composite index, which includes various government and corporate bond indices. The fund has been operational since May 20, 1993.

About Oxford Square Capital

Oxford Square Capital Corp. is a business development company structured as a closed-end, non-diversified management investment entity. It operates as a private equity and mezzanine investment firm, primarily investing in both public and private enterprises. Its investment focus lies in secured and unsecured senior debt, subordinated debt, preferred stock, and more, mainly in technology-related sectors. Established in 2003 and headquartered in Greenwich, Connecticut, Oxford Square Capital aims for transactions between $5 million and $30 million and seeks exits within seven years.

Earnings, Dividends, Investments