GLIFX vs. VISTX

Last updated Aug 5, 2026

GLIFX (Lazard Global Listed Infrastructure Portfolio Institutional Shares) and VISTX (Vanguard Institutional Short-Term Bond Fund) are both mutual funds - GLIFX is a Infrastructure Equities fund managed by Lazard, while VISTX is a Short-Term Bond fund managed by Vanguard. Over the past 10 years, GLIFX returned 9.95%/yr vs 2.46%/yr for VISTX. Their 0.09 correlation means their historical movements had little consistent relationship. GLIFX charges 0.97%/yr vs 0.02%/yr for VISTX.

Performance

GLIFX vs. VISTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Lazard Global Listed Infrastructure Portfolio Institutional Shares (GLIFX) and Vanguard Institutional Short-Term Bond Fund (VISTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GLIFX achieves a 7.62% return, which is significantly higher than VISTX's 1.27% return. Over the past 10 years, GLIFX has outperformed VISTX with an annualized return of 9.95%, while VISTX has yielded a comparatively lower 2.46% annualized return.

GLIFX

• 1D: 0.37%
• 1M: -1.19%
• 6M: 3.58%
• YTD: 7.62%
• 1Y: 13.37%
• 3Y*: 14.56%
• 5Y*: 10.84%
• 10Y*: 9.95%
• ALL TIME*: 10.84%

VISTX

• 1D: 0.08%
• 1M: 0.16%
• 6M: 0.98%
• YTD: 1.27%
• 1Y: 3.33%
• 3Y*: 5.14%
• 5Y*: 2.57%
• 10Y*: 2.46%
• ALL TIME*: 2.48%

*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)
GLIFX Lazard Global Listed Infrastructure Portfolio Institutional Shares	$0.00	$0.00	$0.00
VISTX Vanguard Institutional Short-Term Bond Fund	$0.00	$0.00	$0.00

GLIFX vs. VISTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GLIFX Lazard Global Listed Infrastructure Portfolio Institutional Shares	7.62%	23.85%	6.71%	10.89%	-1.33%	19.91%	-4.51%	22.27%	-3.82%	20.77%
VISTX Vanguard Institutional Short-Term Bond Fund	1.27%	5.68%	5.56%	4.98%	-3.73%	-0.04%	3.92%	4.20%	1.83%	1.42%

Correlation

The correlation between GLIFX and VISTX is 0.20, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.20
Correlation (3Y) Balances recent behavior with more history.	0.27
Correlation (5Y) Shows whether the relationship held over a longer period.	0.22
Correlation (10Y) Provides a long-term view across more market conditions.	0.11
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.09

The correlation between GLIFX and VISTX shifts across timeframes, from 0.09 (all time) to 0.27 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

GLIFX vs. VISTX — Risk / Return Rank

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

GLIFX

GLIFX Risk / Return Rank: 36
GLIFX Sharpe Ratio Rank: 40
GLIFX Sortino Ratio Rank: 36
GLIFX Omega Ratio Rank: 39
GLIFX Calmar Ratio Rank: 35
GLIFX Martin Ratio Rank: 28

VISTX

VISTX Risk / Return Rank: 95
VISTX Sharpe Ratio Rank: 96
VISTX Sortino Ratio Rank: 96
VISTX Omega Ratio Rank: 96
VISTX Calmar Ratio Rank: 93
VISTX Martin Ratio Rank: 95

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.

GLIFX vs. VISTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lazard Global Listed Infrastructure Portfolio Institutional Shares (GLIFX) and Vanguard Institutional Short-Term Bond Fund (VISTX). 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	VISTX	Difference
Sharpe ratio: Return per unit of total volatility	1.33	2.71	-1.38
Sortino ratio: Return per unit of downside risk	1.84	4.10	-2.26
Omega ratio: Gain probability vs. loss probability	1.24	1.57	-0.33
Calmar ratio: Return relative to maximum drawdown	1.61	3.97	-2.36
Martin ratio: Return relative to average drawdown	4.34	16.43	-12.09

GLIFX vs. VISTX - Sharpe Ratio Comparison

The current GLIFX Sharpe Ratio is 1.33, which is lower than the VISTX Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of GLIFX and VISTX, 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

GLIFX vs. VISTX - Drawdown Comparison

The maximum GLIFX drawdown since its inception was -29.65%, which is greater than VISTX's maximum drawdown of -5.64%. Use the drawdown chart below to compare losses from any high point for GLIFX and VISTX.

Drawdown Indicators

	GLIFX	VISTX	Difference
Max Drawdown Largest peak-to-trough decline	-29.65%	-5.64%	-24.01%
Max Drawdown (1Y) Largest decline over 1 year	-9.00%	-0.86%	-8.14%
Max Drawdown (3Y) Largest decline over 3 years	-9.00%	-0.86%	-8.14%
Max Drawdown (5Y) Largest decline over 5 years	-17.15%	-5.64%	-11.51%
Max Drawdown (10Y) Largest decline over 10 years	-29.65%	-5.64%	-24.01%
Current Drawdown Current decline from peak	-5.53%	0.00%	-5.53%
Average Drawdown Average peak-to-trough decline	-3.38%	-0.68%	-2.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.33%	0.21%	+3.12%

Volatility

GLIFX vs. VISTX - Volatility Comparison

Lazard Global Listed Infrastructure Portfolio Institutional Shares (GLIFX) has a higher volatility of 2.38% compared to Vanguard Institutional Short-Term Bond Fund (VISTX) at 0.38%. This indicates that GLIFX's price experiences larger fluctuations and is considered to be riskier than VISTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLIFX	VISTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.38%	0.38%	+2.00%
Volatility (6M) Calculated over the trailing 6-month period	9.47%	1.00%	+8.47%
Volatility (1Y) Calculated over the trailing 1-year period	10.89%	1.26%	+9.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.01%	1.88%	+9.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.18%	1.48%	+11.70%

GLIFX vs. VISTX - Expense Ratio Comparison

GLIFX has a 0.97% expense ratio, which is higher than VISTX's 0.02% expense ratio.

Dividends

GLIFX vs. VISTX - Dividend Comparison

GLIFX's dividend yield for the trailing twelve months is around 7.29%, more than VISTX's 4.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VISTX Vanguard Institutional Short-Term Bond Fund	4.45%	4.53%	5.03%	3.91%	1.76%	1.85%	2.33%	2.72%	2.32%	1.78%	1.51%	0.00%

Frequently Asked Questions

Can I hold both GLIFX and VISTX in my portfolio?

GLIFX and VISTX have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GLIFX or VISTX?

GLIFX has higher volatility (2.38%) compared to VISTX (0.38%). In terms of maximum drawdown, GLIFX dropped -29.65% vs VISTX's -5.64%.

Which has better risk-adjusted returns?

VISTX currently has the higher Sharpe Ratio (2.71 vs 1.33), 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.