GLFOX vs. GLIFX
GLFOX (Lazard Global Listed Infrastructure Portfolio Open Shares) and GLIFX (Lazard Global Listed Infrastructure Portfolio Institutional Shares) are both Infrastructure Equities funds from Lazard. Over the past 10 years, GLFOX returned 9.70%/yr vs 9.92%/yr for GLIFX. Their 1.00 correlation means they have historically moved very closely together. GLFOX charges 1.22%/yr vs 0.97%/yr for GLIFX.
Performance
GLFOX vs. GLIFX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with GLFOX having a 7.60% return and GLIFX slightly higher at 7.74%. Both investments have delivered pretty close results over the past 10 years, with GLFOX having a 9.70% annualized return and GLIFX not far ahead at 9.92%.
GLFOX
- 1D
- -0.36%
- 1M
- -1.14%
- 6M
- 3.72%
- YTD
- 7.60%
- 1Y
- 14.26%
- 3Y*
- 13.10%
- 5Y*
- 10.55%
- 10Y*
- 9.70%
- ALL TIME*
- 10.60%
GLIFX
- 1D
- -0.36%
- 1M
- -1.08%
- 6M
- 3.91%
- YTD
- 7.74%
- 1Y
- 14.55%
- 3Y*
- 13.40%
- 5Y*
- 10.83%
- 10Y*
- 9.92%
- ALL TIME*
- 10.86%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
GLFOX vs. GLIFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GLFOX Lazard Global Listed Infrastructure Portfolio Open Shares | 7.60% | 23.53% | 6.43% | 10.59% | -1.59% | 19.67% | -4.71% | 21.95% | -4.06% | 20.44% |
GLIFX Lazard Global Listed Infrastructure Portfolio Institutional Shares | 7.74% | 23.85% | 6.71% | 10.89% | -1.33% | 19.91% | -4.51% | 22.27% | -3.82% | 20.77% |
Correlation
The correlation between GLFOX and GLIFX is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 1.00 |
Correlation (3Y) Balances recent behavior with more history. | 1.00 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 1.00 |
Correlation (10Y) Provides a long-term view across more market conditions. | 1.00 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2010 | 1.00 |
The correlation between GLFOX and GLIFX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.
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Return for Risk
GLFOX vs. GLIFX — Risk / Return Rank
GLFOX
GLIFX
GLFOX vs. GLIFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Lazard Global Listed Infrastructure Portfolio Open Shares (GLFOX) and Lazard Global Listed Infrastructure Portfolio Institutional Shares (GLIFX). 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.
| GLFOX | GLIFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.24 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.55 | 1.58 | -0.03 |
| Martin ratioReturn relative to average drawdown | 4.18 | 4.31 | -0.13 |
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Drawdowns
GLFOX vs. GLIFX - Drawdown Comparison
The maximum GLFOX drawdown since its inception was -29.65%, roughly equal to the maximum GLIFX drawdown of -29.65%. Use the drawdown chart below to compare losses from any high point for GLFOX and GLIFX.
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Drawdown Indicators
| GLFOX | GLIFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.65% | -29.65% | 0.00% |
Max Drawdown (1Y)Largest decline over 1 year | -9.01% | -9.00% | -0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -9.01% | -9.00% | -0.01% |
Max Drawdown (5Y)Largest decline over 5 years | -17.14% | -17.15% | +0.01% |
Max Drawdown (10Y)Largest decline over 10 years | -29.65% | -29.65% | 0.00% |
Current DrawdownCurrent decline from peak | -5.55% | -5.43% | -0.12% |
Average DrawdownAverage peak-to-trough decline | -3.43% | -3.37% | -0.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.33% | 3.29% | +0.04% |
Volatility
GLFOX vs. GLIFX - Volatility Comparison
Lazard Global Listed Infrastructure Portfolio Open Shares (GLFOX) and Lazard Global Listed Infrastructure Portfolio Institutional Shares (GLIFX) have volatilities of 2.84% and 2.85%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLFOX | GLIFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.84% | 2.85% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 9.48% | 9.47% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.88% | 10.85% | +0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.01% | 11.00% | +0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.19% | 13.18% | +0.01% |
GLFOX vs. GLIFX - Expense Ratio Comparison
GLFOX has a 1.22% expense ratio, which is higher than GLIFX's 0.97% expense ratio.
Dividends
GLFOX vs. GLIFX - Dividend Comparison
GLFOX's dividend yield for the trailing twelve months is around 7.09%, less than GLIFX's 7.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLFOX Lazard Global Listed Infrastructure Portfolio Open Shares | 7.09% | 6.03% | 4.00% | 2.69% | 14.50% | 6.02% | 2.39% | 4.20% | 13.99% | 6.82% | 2.07% | 11.01% |
GLIFX Lazard Global Listed Infrastructure Portfolio Institutional Shares | 7.29% | 6.22% | 4.26% | 2.95% | 14.81% | 6.21% | 2.59% | 4.44% | 14.29% | 6.94% | 1.91% | 11.33% |
Frequently Asked Questions
With a correlation of 1.00, GLFOX and GLIFX 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.
GLIFX has higher volatility (2.85%) compared to GLFOX (2.84%). In terms of maximum drawdown, GLFOX dropped -29.65% vs GLIFX's -29.65%.
GLIFX currently has the higher Sharpe Ratio (1.31 vs 1.28), 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.
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