- ISIN
- US52106N3843
- CUSIP
- 52106N384
- Issuer
- Lazard
- Inception Date
- Feb 28, 2011
- Category
- Ultrashort Bond
- Min. Investment
- $10,000
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
UMNIX Performance Chart
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Returns By Period
Lazard US Short Duration Fixed Income Portfolio
- 1D
- —
- 1M
- —
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -1.44%
- 1M
- -1.45%
- YTD
- 7.60%
- 6M
- 6.59%
- 1Y
- 22.24%
- 3Y*
- 19.20%
- 5Y*
- 11.54%
- 10Y*
- 13.71%
UMNIX Monthly Returns History
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.29% | 0.31% | -0.45% | 0.18% | -0.10% | 0.22% | |||||||
| 2025 | 0.85% | 0.62% | 0.42% | 0.72% | -0.11% | 0.72% | -0.42% | 0.83% | 0.30% | 0.40% | 0.40% | 0.19% | 5.02% |
| 2024 | 0.44% | -0.42% | 0.33% | -0.32% | 0.65% | 0.32% | 1.29% | 0.97% | 0.83% | -0.75% | 0.40% | 0.09% | 3.88% |
| 2023 | 0.40% | -0.23% | 1.09% | 0.26% | -0.15% | -0.39% | 0.30% | -0.00% | -0.01% | -0.11% | 1.21% | 1.10% | 3.53% |
| 2022 | -0.30% | -0.27% | -1.05% | -0.51% | 0.42% | -0.61% | 0.23% | -0.42% | -0.81% | -0.07% | 0.48% | 0.19% | -2.72% |
| 2021 | 0.06% | -0.10% | 0.04% | -0.07% | 0.02% | 0.01% | 0.01% | -0.10% | 0.00% | -0.10% | -0.00% | -0.20% | -0.44% |
Benchmark Metrics
Lazard US Short Duration Fixed Income Portfolio has an annualized alpha of 1.47%, beta of -0.00, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since February 28, 2011.
- This fund captured 4.25% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -1.00%) - a profile typical of hedging or uncorrelated assets.
- Beta of -0.00 may look defensive, but with R2 of 0.00 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.00 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 1.47%
- Beta
- -0.00
- R²
- 0.00
- Upside Capture
- 4.25%
- Downside Capture
- -1.00%
Expense Ratio
UMNIX has an expense ratio of 0.40%, placing it in the medium range.
Return for Risk
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Lazard US Short Duration Fixed Income Portfolio (UMNIX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| UMNIX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.32 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.46 | — |
| Martin ratioReturn relative to average drawdown | — | 10.92 | — |
Dividends
Dividend History
Lazard US Short Duration Fixed Income Portfolio provided a 2.96% dividend yield over the last twelve months, with an annual payout of $0.28 per share. The fund has been increasing its distributions for 4 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.28 | $0.38 | $0.33 | $0.26 | $0.12 | $0.02 | $0.12 | $0.24 | $0.19 | $0.15 | $0.13 | $0.11 |
Dividend yield | 2.96% | 3.94% | 3.48% | 2.70% | 1.30% | 0.16% | 1.22% | 2.48% | 2.00% | 1.53% | 1.30% | 1.06% |
Monthly Dividends
The table displays the monthly dividend distributions for Lazard US Short Duration Fixed Income Portfolio. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.03 | $0.00 | $0.03 | $0.03 | $0.00 | $0.08 | |||||||
| 2025 | $0.06 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.38 |
| 2024 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.33 |
| 2023 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.02 | $0.03 | $0.00 | $0.03 | $0.00 | $0.03 | $0.03 | $0.26 |
| 2022 | $0.00 | $0.00 | $0.01 | $0.01 | $0.00 | $0.01 | $0.01 | $0.02 | $0.01 | $0.01 | $0.02 | $0.02 | $0.12 |
| 2021 | $0.01 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.02 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Lazard US Short Duration Fixed Income Portfolio. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Lazard US Short Duration Fixed Income Portfolio was 4.13%, occurring on Oct 19, 2022. Recovery took 300 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -4.13%Oct 2022 | 1y 9mo | 1y 2mo | 2y 11moJan 2021 - Dec 2023 |
2013 pullback2013 | -3.10%Jun 2013 | 1mo 19d | 4y 2mo | 4y 3moMay 2013 - Aug 2017 |
2011 pullback2011 | -1.46%Oct 2011 | 16d | 2mo 9d | 2mo 25dSep 2011 - Dec 2011 |
2012 pullback2012 | -1.26%Mar 2012 | 19d | 1mo 4d | 1mo 23dMar 2012 - Apr 2012 |
2024 pullback2024 | -1.04%Oct 2024 | 27d | 3mo 3d | 4moOct 2024 - Jan 2025 |
Drawdown Indicators
| UMNIX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | — | -56.78% | — |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.10% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | — | -3.21% | — |
Average DrawdownAverage peak-to-trough decline | — | -10.71% | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.04% | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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