EITEX vs. RLEMX

Last updated Aug 1, 2026

EITEX (Parametric Tax-Managed Emerging Markets Fund) and RLEMX (Lazard Emerging Markets Equity Portfolio Class R6) are both Emerging Markets Equities funds. Over the past 10 years, EITEX returned 6.67%/yr vs 9.84%/yr for RLEMX. Their correlation of 0.92 means they have usually moved in the same direction. EITEX charges 0.96%/yr vs 1.38%/yr for RLEMX.

Performance

EITEX vs. RLEMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Parametric Tax-Managed Emerging Markets Fund (EITEX) and Lazard Emerging Markets Equity Portfolio Class R6 (RLEMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EITEX achieves a 9.06% return, which is significantly lower than RLEMX's 24.08% return. Over the past 10 years, EITEX has underperformed RLEMX with an annualized return of 6.67%, while RLEMX has yielded a comparatively higher 9.84% annualized return.

EITEX

• 1D: 1.90%
• 1M: 0.59%
• 6M: 1.44%
• YTD: 9.06%
• 1Y: 21.79%
• 3Y*: 13.29%
• 5Y*: 7.08%
• 10Y*: 6.67%
• ALL TIME*: 8.71%

RLEMX

• 1D: 2.12%
• 1M: 2.22%
• 6M: 13.36%
• YTD: 24.08%
• 1Y: 46.85%
• 3Y*: 25.12%
• 5Y*: 14.34%
• 10Y*: 9.84%
• ALL TIME*: 11.56%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EITEX Parametric Tax-Managed Emerging Markets Fund	$0.00	$0.00	$0.00
RLEMX Lazard Emerging Markets Equity Portfolio Class R6	$0.00	$0.00	$0.00

EITEX vs. RLEMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EITEX Parametric Tax-Managed Emerging Markets Fund	9.06%	28.58%	4.67%	10.69%	-12.11%	4.47%	4.51%	12.51%	-13.20%	27.10%
RLEMX Lazard Emerging Markets Equity Portfolio Class R6	24.08%	41.38%	7.60%	22.42%	-14.86%	5.43%	-0.02%	17.99%	-18.11%	28.02%

Correlation

The correlation between EITEX and RLEMX is 0.91, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.91
Correlation (3Y) Balances recent behavior with more history.	0.90
Correlation (5Y) Shows whether the relationship held over a longer period.	0.90
Correlation (10Y) Provides a long-term view across more market conditions.	0.92
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.92

The correlation between EITEX and RLEMX has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.

Return for Risk

EITEX vs. RLEMX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

EITEX

EITEX Risk / Return Rank: 61
EITEX Sharpe Ratio Rank: 65
EITEX Sortino Ratio Rank: 61
EITEX Omega Ratio Rank: 69
EITEX Calmar Ratio Rank: 62
EITEX Martin Ratio Rank: 49

RLEMX

RLEMX Risk / Return Rank: 94
RLEMX Sharpe Ratio Rank: 97
RLEMX Sortino Ratio Rank: 94
RLEMX Omega Ratio Rank: 92
RLEMX Calmar Ratio Rank: 95
RLEMX Martin Ratio Rank: 93

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EITEX vs. RLEMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Parametric Tax-Managed Emerging Markets Fund (EITEX) and Lazard Emerging Markets Equity Portfolio Class R6 (RLEMX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	EITEX	RLEMX	Difference
Sharpe ratio: Return per unit of total volatility	1.54	2.94	-1.40
Sortino ratio: Return per unit of downside risk	2.13	3.80	-1.67
Omega ratio: Gain probability vs. loss probability	1.30	1.52	-0.22
Calmar ratio: Return relative to maximum drawdown	2.06	4.18	-2.12
Martin ratio: Return relative to average drawdown	6.75	14.19	-7.43

EITEX vs. RLEMX - Sharpe Ratio Comparison

The current EITEX Sharpe Ratio is 1.54, which is lower than the RLEMX Sharpe Ratio of 2.94. The chart below compares the historical Sharpe Ratios of EITEX and RLEMX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EITEX vs. RLEMX - Drawdown Comparison

The maximum EITEX drawdown since its inception was -61.70%, which is greater than RLEMX's maximum drawdown of -44.12%. Use the drawdown chart below to compare losses from any high point for EITEX and RLEMX.

Drawdown Indicators

	EITEX	RLEMX	Difference
Max Drawdown Largest peak-to-trough decline	-61.70%	-44.12%	-17.58%
Max Drawdown (1Y) Largest decline over 1 year	-9.88%	-10.41%	+0.53%
Max Drawdown (3Y) Largest decline over 3 years	-11.86%	-14.25%	+2.39%
Max Drawdown (5Y) Largest decline over 5 years	-25.58%	-29.17%	+3.59%
Max Drawdown (10Y) Largest decline over 10 years	-43.10%	-44.12%	+1.02%
Current Drawdown Current decline from peak	-3.67%	-2.25%	-1.42%
Average Drawdown Average peak-to-trough decline	-13.87%	-10.36%	-3.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.01%	3.07%	-0.06%

Volatility

EITEX vs. RLEMX - Volatility Comparison

The current volatility for Parametric Tax-Managed Emerging Markets Fund (EITEX) is 4.18%, while Lazard Emerging Markets Equity Portfolio Class R6 (RLEMX) has a volatility of 5.13%. This indicates that EITEX experiences smaller price fluctuations and is considered to be less risky than RLEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EITEX	RLEMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.18%	5.13%	-0.95%
Volatility (6M) Calculated over the trailing 6-month period	11.82%	12.94%	-1.12%
Volatility (1Y) Calculated over the trailing 1-year period	13.23%	14.84%	-1.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.53%	14.60%	-2.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.74%	16.39%	-2.65%

EITEX vs. RLEMX - Expense Ratio Comparison

EITEX has a 0.96% expense ratio, which is lower than RLEMX's 1.38% expense ratio.

Dividends

EITEX vs. RLEMX - Dividend Comparison

EITEX's dividend yield for the trailing twelve months is around 4.38%, more than RLEMX's 1.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EITEX Parametric Tax-Managed Emerging Markets Fund	4.38%	4.77%	4.58%	5.85%	10.39%	9.72%	1.79%	2.63%	2.26%	1.80%	1.67%	2.11%
RLEMX Lazard Emerging Markets Equity Portfolio Class R6	1.65%	2.05%	3.10%	3.76%	5.92%	4.89%	2.11%	2.45%	2.10%	1.99%	1.48%	0.00%

Frequently Asked Questions

Can I hold both EITEX and RLEMX in my portfolio?

With a correlation of 0.91, EITEX and RLEMX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, EITEX or RLEMX?

RLEMX has higher volatility (5.13%) compared to EITEX (4.18%). In terms of maximum drawdown, EITEX dropped -61.70% vs RLEMX's -44.12%.

Which has better risk-adjusted returns?

RLEMX currently has the higher Sharpe Ratio (2.94 vs 1.54), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.