GLIFX vs. UMNIX

Last updated Jun 25, 2026

GLIFX (Lazard Global Listed Infrastructure Portfolio Institutional Shares) and UMNIX (Lazard US Short Duration Fixed Income Portfolio) are both mutual funds - GLIFX is a Global Equities fund managed by Lazard, while UMNIX is a Ultrashort Bond fund managed by Lazard. At a 0.01 correlation, their price movements are largely independent. GLIFX charges 0.97%/yr vs 0.40%/yr for UMNIX.

Performance

GLIFX vs. UMNIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Lazard Global Listed Infrastructure Portfolio Institutional Shares (GLIFX) and Lazard US Short Duration Fixed Income Portfolio (UMNIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

GLIFX

• 1D: 0.05%
• 1M: -0.68%
• YTD: 8.86%
• 6M: 9.16%
• 1Y: 16.78%
• 3Y*: 14.89%
• 5Y*: 11.47%
• 10Y*: 10.77%

UMNIX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GLIFX vs. UMNIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GLIFX Lazard Global Listed Infrastructure Portfolio Institutional Shares	8.86%	23.85%	6.71%	10.89%	-1.33%	19.91%	-4.51%	22.27%	-3.82%	20.77%
UMNIX Lazard US Short Duration Fixed Income Portfolio	0.22%	5.02%	3.88%	3.53%	-2.72%	-0.44%	2.47%	3.26%	1.09%	0.82%

Correlation

The correlation between GLIFX and UMNIX is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.17
Correlation (10Y) Calculated over the trailing 10-year period	0.08
Correlation (All Time) Calculated using the full available price history since Feb 28, 2011	0.01

The correlation between GLIFX and UMNIX shifts across timeframes, from 0.01 (all time) to 0.21 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

GLIFX vs. UMNIX — Risk / Return Rank

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

GLIFX

GLIFX Risk / Return Rank: 32
GLIFX Sharpe Ratio Rank: 35
GLIFX Sortino Ratio Rank: 31
GLIFX Omega Ratio Rank: 35
GLIFX Calmar Ratio Rank: 30
GLIFX Martin Ratio Rank: 27

UMNIX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

GLIFX vs. UMNIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lazard Global Listed Infrastructure Portfolio Institutional Shares (GLIFX) and Lazard US Short Duration Fixed Income Portfolio (UMNIX). 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.

	GLIFX	UMNIX	Difference
Sharpe ratio: Return per unit of total volatility	1.57	—	—
Sortino ratio: Return per unit of downside risk	2.11	—	—
Omega ratio: Gain probability vs. loss probability	1.29	—	—
Calmar ratio: Return relative to maximum drawdown	1.87	—	—
Martin ratio: Return relative to average drawdown	5.86	—	—

Drawdowns

Drawdown Indicators

	GLIFX	UMNIX	Difference
Max Drawdown Largest peak-to-trough decline	-29.65%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-9.00%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-10.02%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-17.15%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-29.65%	—	—
Current Drawdown Current decline from peak	-4.44%	—	—
Average Drawdown Average peak-to-trough decline	-3.36%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.87%	—	—

Volatility

Volatility by Period

	GLIFX	UMNIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.55%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.37%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.79%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.00%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.22%	—	—

GLIFX vs. UMNIX - Expense Ratio Comparison

GLIFX has a 0.97% expense ratio, which is higher than UMNIX's 0.40% expense ratio.

Dividends

GLIFX vs. UMNIX - Dividend Comparison

GLIFX's dividend yield for the trailing twelve months is around 7.21%, more than UMNIX's 2.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GLIFX Lazard Global Listed Infrastructure Portfolio Institutional Shares	7.21%	6.22%	4.26%	2.95%	14.81%	6.21%	2.59%	4.44%	14.29%	6.94%	1.91%	11.33%
UMNIX Lazard US Short Duration Fixed Income Portfolio	2.96%	3.94%	3.48%	2.70%	1.30%	0.16%	1.22%	2.48%	2.00%	1.53%	1.30%	1.06%

Frequently Asked Questions

Can I hold both GLIFX and UMNIX in my portfolio?

GLIFX and UMNIX have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.