Out of curiosity, is this running route tree lined? Big tubes of water (i.e. trees) can inhibit the signals of the wavelength that GPS uses. Which is one reason they aren't the most reliable things in woods and surveyors will often go "old school" to get points located in wooded areas. Second, how straight is this run? Lots of twists and turns?
Tracking software that use GPS are not necessarily getting a constant stream of X,Y locations. Even very good tracking systems use
Kalman filters and data from the GPS subsystem to figure out where it was, where it is likely to be now, and where it will be in the future (wash, rinse, repeat). They base this on polling data from the GPS subsystem. Polling the GPS can impact battery life big time. For instance, Waze will burn through my iPhone battery in about 2-3 hrs. As such, some portable devices/software will try to minimize polling the GPS to maximize battery life. If you are going in a straight line under open sky, it works just fine. If you are running a twisty route under trees, then the software may start trying to spline curves around its fixed locations and error in distance estimates will increase. Or, it just doesn't have the computational resources, possibly limited by battery life concerns, to resolve a solid way-point for its path finding algortims when satellite connections get weak or confusing.
Knowing nothing else, my hypothesis would be that Apple has balanced the radios and built in features of the AW to get the best battery life possible under a wide set of expected uses, and this is impacting tracking performance in some situations. A way to test all this arm-waving, as suggested by others, is to try different fitness software and to also compare the two devices on different routes. Can you find a route that is away from trees and buildings? Maybe a track somewhere? Also, maybe do the tests with and without the host iphone along for the ride. It could be revealing. I'd expect that the devices would perform similarly in some situations, but not all, that the AW does better when it can tether off the iPhone, and that different running software may give more consistent results, but possibly at the expense of battery life.
Fun stuff!