GLFOX vs. PHYQX

Last updated Jun 24, 2026

GLFOX (Lazard Global Listed Infrastructure Portfolio Open Shares) and PHYQX (PGIM High Yield Fund Class R6) are both mutual funds - GLFOX is a Global Equities fund managed by Lazard, while PHYQX is a High Yield Bonds fund managed by PGIM. Over the past 10 years, GLFOX returned 10.54%/yr vs 5.91%/yr for PHYQX. At a 0.35 correlation, their price movements are largely independent. GLFOX charges 1.22%/yr vs 0.38%/yr for PHYQX.

Performance

GLFOX vs. PHYQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Lazard Global Listed Infrastructure Portfolio Open Shares (GLFOX) and PGIM High Yield Fund Class R6 (PHYQX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GLFOX achieves a 8.72% return, which is significantly higher than PHYQX's 1.64% return. Over the past 10 years, GLFOX has outperformed PHYQX with an annualized return of 10.54%, while PHYQX has yielded a comparatively lower 5.91% annualized return.

GLFOX

• 1D: 0.31%
• 1M: -0.74%
• YTD: 8.72%
• 6M: 9.20%
• 1Y: 16.42%
• 3Y*: 14.58%
• 5Y*: 11.35%
• 10Y*: 10.54%

PHYQX

• 1D: -0.21%
• 1M: 0.60%
• YTD: 1.64%
• 6M: 2.43%
• 1Y: 6.86%
• 3Y*: 9.30%
• 5Y*: 4.05%
• 10Y*: 5.91%

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

GLFOX vs. PHYQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GLFOX Lazard Global Listed Infrastructure Portfolio Open Shares	8.72%	23.53%	6.43%	10.59%	-1.59%	19.67%	-4.71%	21.95%	-4.06%	20.44%
PHYQX PGIM High Yield Fund Class R6	1.64%	9.18%	8.55%	12.34%	-12.22%	5.99%	5.79%	16.29%	-1.18%	7.74%

Correlation

The correlation between GLFOX and PHYQX is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.36
Correlation (10Y) Calculated over the trailing 10-year period	0.33
Correlation (All Time) Calculated using the full available price history since Oct 31, 2011	0.35

The correlation between GLFOX and PHYQX shifts across timeframes, from 0.26 (1 year) to 0.36 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

GLFOX vs. PHYQX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GLFOX

GLFOX Risk / Return Rank: 33
GLFOX Sharpe Ratio Rank: 36
GLFOX Sortino Ratio Rank: 32
GLFOX Omega Ratio Rank: 37
GLFOX Calmar Ratio Rank: 30
GLFOX Martin Ratio Rank: 28

PHYQX

PHYQX Risk / Return Rank: 69
PHYQX Sharpe Ratio Rank: 52
PHYQX Sortino Ratio Rank: 80
PHYQX Omega Ratio Rank: 79
PHYQX Calmar Ratio Rank: 61
PHYQX Martin Ratio Rank: 71

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GLFOX vs. PHYQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lazard Global Listed Infrastructure Portfolio Open Shares (GLFOX) and PGIM High Yield Fund Class R6 (PHYQX). 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	PHYQX	Difference
Sharpe ratio: Return per unit of total volatility	1.62	1.97	-0.34
Sortino ratio: Return per unit of downside risk	2.18	3.48	-1.30
Omega ratio: Gain probability vs. loss probability	1.30	1.47	-0.18
Calmar ratio: Return relative to maximum drawdown	1.95	2.88	-0.92
Martin ratio: Return relative to average drawdown	6.12	12.70	-6.58

GLFOX vs. PHYQX - Sharpe Ratio Comparison

The current GLFOX Sharpe Ratio is 1.62, which is comparable to the PHYQX Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of GLFOX and PHYQX, 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

GLFOX vs. PHYQX - Drawdown Comparison

The maximum GLFOX drawdown since its inception was -29.65%, which is greater than PHYQX's maximum drawdown of -21.12%. Use the drawdown chart below to compare losses from any high point for GLFOX and PHYQX.

Drawdown Indicators

	GLFOX	PHYQX	Difference
Max Drawdown Largest peak-to-trough decline	-29.65%	-21.12%	-8.53%
Max Drawdown (1Y) Largest decline over 1 year	-9.01%	-2.47%	-6.54%
Max Drawdown (3Y) Largest decline over 3 years	-10.07%	-3.76%	-6.31%
Max Drawdown (5Y) Largest decline over 5 years	-17.14%	-16.05%	-1.09%
Max Drawdown (10Y) Largest decline over 10 years	-29.65%	-21.12%	-8.53%
Current Drawdown Current decline from peak	-4.57%	-0.42%	-4.15%
Average Drawdown Average peak-to-trough decline	-3.42%	-2.22%	-1.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.87%	0.56%	+2.31%

Volatility

GLFOX vs. PHYQX - Volatility Comparison

Lazard Global Listed Infrastructure Portfolio Open Shares (GLFOX) has a higher volatility of 2.68% compared to PGIM High Yield Fund Class R6 (PHYQX) at 1.13%. This indicates that GLFOX's price experiences larger fluctuations and is considered to be riskier than PHYQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLFOX	PHYQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.68%	1.13%	+1.55%
Volatility (6M) Calculated over the trailing 6-month period	9.40%	2.86%	+6.54%
Volatility (1Y) Calculated over the trailing 1-year period	10.86%	3.63%	+7.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.02%	5.11%	+5.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.32%	5.48%	+7.84%

GLFOX vs. PHYQX - Expense Ratio Comparison

GLFOX has a 1.22% expense ratio, which is higher than PHYQX's 0.38% expense ratio.

Dividends

GLFOX vs. PHYQX - Dividend Comparison

GLFOX's dividend yield for the trailing twelve months is around 7.02%, less than PHYQX's 7.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GLFOX Lazard Global Listed Infrastructure Portfolio Open Shares	7.02%	6.03%	4.00%	2.69%	14.50%	6.02%	2.39%	4.20%	13.99%	6.82%	2.07%	11.01%
PHYQX PGIM High Yield Fund Class R6	7.11%	7.07%	7.53%	7.09%	6.29%	6.23%	6.56%	6.32%	6.64%	6.38%	4.88%	7.05%

Frequently Asked Questions

Can I hold both GLFOX and PHYQX in my portfolio?

GLFOX and PHYQX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GLFOX or PHYQX?

GLFOX has higher volatility (2.68%) compared to PHYQX (1.13%). In terms of maximum drawdown, GLFOX dropped -29.65% vs PHYQX's -21.12%.

Which has better risk-adjusted returns?

PHYQX currently has the higher Sharpe Ratio (1.97 vs 1.62), 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.