An amorphous alloy having a composition consisting essentially of about 45 to about 65 atomic % Zr and/or Hf, about 4 to about 7.5 atomic % Ti and/or Nb, about 5 to about 15 atomic % Al and/or Zn, and the balance comprising a metal selected from the group consisting of Cu, Co, Ni, up to about 10 atomic % Fe, and Y intentionally present in the alloy composition in an amount not exceeding about 0.5 atomic %, such as about 0.2 to about 0.4 atomic % Y, with an alloy bulk oxygen concentration of at least about 1000 ppm on atomic basis.