An alloy composition comprising iron present in the range of 49 atomic percent (at %) to 65 at %, nickel present in the range of 10.0 at % to 16.5 at %, cobalt optionally present in the range of 0.1 at % to 12 at %, boron present in the range of 12.5 at % to 16.5 at %, silicon optionally present in the range of 0.1 at % to 8.0 at %, carbon optionally present in the range of 2 at % to 5 at %, chromium optionally present in the range of 2.5 at % to 13.35 at %, and niobium optionally present in the range of 1.5 at % to 2.5 at %, wherein the alloy composition exhibits spinodal glass matrix microconstituents when cooled at a rate in the range of 103K/s to 104K/s and develops a number of shear bands per linear meter in the range of greater than 1.1×102 m−1 to 107 m−1 upon application of a tensile force applied at a rate of 0.001 s−1.