LDMIX vs. GLFOX
LDMIX (Lazard Developing Markets Equity Portfolio) and GLFOX (Lazard Global Listed Infrastructure Portfolio Open Shares) are both mutual funds - LDMIX is a Emerging Markets Diversified fund managed by Lazard, while GLFOX is a Global Equities fund managed by Lazard. Over the past 10 years, LDMIX returned 10.51%/yr vs 10.01%/yr for GLFOX. At a 0.49 correlation, their price movements are largely independent. LDMIX charges 1.15%/yr vs 1.22%/yr for GLFOX.
Performance
LDMIX vs. GLFOX - Performance Comparison
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Returns By Period
In the year-to-date period, LDMIX achieves a 35.63% return, which is significantly higher than GLFOX's 7.26% return. Both investments have delivered pretty close results over the past 10 years, with LDMIX having a 10.51% annualized return and GLFOX not far behind at 10.01%.
LDMIX
- 1D
- 0.92%
- 1M
- 13.68%
- YTD
- 35.63%
- 6M
- 39.16%
- 1Y
- 68.95%
- 3Y*
- 26.47%
- 5Y*
- 7.03%
- 10Y*
- 10.51%
GLFOX
- 1D
- -0.51%
- 1M
- -1.97%
- YTD
- 7.26%
- 6M
- 7.41%
- 1Y
- 15.22%
- 3Y*
- 13.64%
- 5Y*
- 11.01%
- 10Y*
- 10.01%
LDMIX vs. GLFOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LDMIX Lazard Developing Markets Equity Portfolio | 35.63% | 33.67% | 6.73% | 9.68% | -22.61% | -10.14% | 19.33% | 28.17% | -20.57% | 41.15% |
GLFOX Lazard Global Listed Infrastructure Portfolio Open Shares | 7.26% | 23.53% | 6.43% | 10.59% | -1.59% | 19.67% | -4.71% | 21.95% | -4.06% | 20.44% |
Correlation
The correlation between LDMIX and GLFOX is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2010 | 0.49 |
Over the past year, the correlation between LDMIX and GLFOX has dropped to 0.08 - well below their long-term average of 0.49, suggesting their price drivers have been diverging.
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Return for Risk
LDMIX vs. GLFOX — Risk / Return Rank
LDMIX
GLFOX
LDMIX vs. GLFOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Lazard Developing Markets Equity Portfolio (LDMIX) and Lazard Global Listed Infrastructure Portfolio Open Shares (GLFOX). 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.
| LDMIX | GLFOX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.47 | ||
| Sortino ratioReturn per unit of downside risk | +2.85 | ||
| Omega ratioGain probability vs. loss probability | 1.68 | 1.27 | +0.42 |
| Calmar ratioReturn relative to maximum drawdown | 5.29 | 1.70 | +3.59 |
| Martin ratioReturn relative to average drawdown | 20.00 | 5.74 | +14.26 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| LDMIX | GLFOX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.90 | 1.43 | +2.47 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.39 | 1.01 | -0.62 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.55 | 0.75 | -0.21 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 0.82 | -0.51 |
Drawdowns
LDMIX vs. GLFOX - Drawdown Comparison
The maximum LDMIX drawdown since its inception was -51.12%, which is greater than GLFOX's maximum drawdown of -29.65%. Use the drawdown chart below to compare losses from any high point for LDMIX and GLFOX.
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Drawdown Indicators
| LDMIX | GLFOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.12% | -29.65% | -21.47% |
Max Drawdown (1Y)Largest decline over 1 year | -13.14% | -9.01% | -4.13% |
Max Drawdown (3Y)Largest decline over 3 years | -19.55% | -10.07% | -9.48% |
Max Drawdown (5Y)Largest decline over 5 years | -42.66% | -17.14% | -25.52% |
Max Drawdown (10Y)Largest decline over 10 years | -46.20% | -29.65% | -16.55% |
Current DrawdownCurrent decline from peak | 0.00% | -5.85% | +5.85% |
Average DrawdownAverage peak-to-trough decline | -19.75% | -3.42% | -16.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.47% | 2.67% | +0.80% |
Volatility
LDMIX vs. GLFOX - Volatility Comparison
Lazard Developing Markets Equity Portfolio (LDMIX) has a higher volatility of 7.39% compared to Lazard Global Listed Infrastructure Portfolio Open Shares (GLFOX) at 4.51%. This indicates that LDMIX's price experiences larger fluctuations and is considered to be riskier than GLFOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LDMIX | GLFOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.39% | 4.51% | +2.88% |
Volatility (6M)Calculated over the trailing 6-month period | 14.97% | 9.32% | +5.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.86% | 10.74% | +7.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.12% | 11.00% | +7.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.30% | 13.34% | +5.96% |
LDMIX vs. GLFOX - Expense Ratio Comparison
LDMIX has a 1.15% expense ratio, which is lower than GLFOX's 1.22% expense ratio.
Dividends
LDMIX vs. GLFOX - Dividend Comparison
LDMIX's dividend yield for the trailing twelve months is around 0.86%, less than GLFOX's 6.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLFOX Lazard Global Listed Infrastructure Portfolio Open Shares | 6.10% | 6.03% | 4.00% | 2.69% | 14.50% | 6.02% | 2.39% | 4.20% | 13.99% | 6.82% | 2.07% | 11.01% |
LDMIX Lazard Developing Markets Equity Portfolio | 0.86% | 1.17% | 0.84% | 2.24% | 0.83% | 1.00% | 0.25% | 0.54% | 0.78% | 0.20% | 0.95% | 0.56% |
Frequently Asked Questions
LDMIX and GLFOX have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LDMIX has higher volatility (7.39%) compared to GLFOX (4.51%). In terms of maximum drawdown, LDMIX dropped -51.12% vs GLFOX's -29.65%.
LDMIX currently has the higher Sharpe Ratio (3.90 vs 1.43), 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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