LDMIX vs. LZFIX

Last updated Jul 14, 2026

LDMIX (Lazard Developing Markets Equity Portfolio) and LZFIX (Lazard Equity Franchise Portfolio) are both mutual funds - LDMIX is a Emerging Markets Diversified fund managed by Lazard, while LZFIX is a Large Cap Value Equities fund managed by Lazard. Over the past 5 years, LDMIX returned 6.98%/yr vs 3.23%/yr for LZFIX. A 0.54 correlation means they provide meaningful diversification when combined. LDMIX charges 1.15%/yr vs 0.99%/yr for LZFIX.

Performance

LDMIX vs. LZFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Lazard Developing Markets Equity Portfolio (LDMIX) and Lazard Equity Franchise Portfolio (LZFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LDMIX achieves a 28.51% return, which is significantly higher than LZFIX's -1.11% return.

LDMIX

• 1D: 0.35%
• 1M: -0.65%
• 6M: 21.06%
• YTD: 28.51%
• 1Y: 52.66%
• 3Y*: 23.26%
• 5Y*: 6.98%
• 10Y*: 9.23%

LZFIX

• 1D: 0.85%
• 1M: 4.55%
• 6M: -1.39%
• YTD: -1.11%
• 1Y: -10.40%
• 3Y*: 1.14%
• 5Y*: 3.23%
• 10Y*: —

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

LDMIX vs. LZFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
LDMIX Lazard Developing Markets Equity Portfolio	28.51%	33.67%	6.73%	9.68%	-22.61%	-10.14%	19.33%	17.10%
LZFIX Lazard Equity Franchise Portfolio	-1.11%	4.09%	-3.09%	18.84%	-5.29%	22.88%	1.15%	9.25%

Correlation

The correlation between LDMIX and LZFIX is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.48
Correlation (All Time) Calculated using the full available price history since May 14, 2019	0.54

Over the past year, the correlation between LDMIX and LZFIX has dropped to 0.22 - well below their long-term average of 0.54, suggesting their price drivers have been diverging.

Return for Risk

LDMIX vs. LZFIX — Risk / Return Rank

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

LDMIX

LDMIX Risk / Return Rank: 88
LDMIX Sharpe Ratio Rank: 91
LDMIX Sortino Ratio Rank: 81
LDMIX Omega Ratio Rank: 84
LDMIX Calmar Ratio Rank: 93
LDMIX Martin Ratio Rank: 90

LZFIX

LZFIX Risk / Return Rank: 1
LZFIX Sharpe Ratio Rank: 1
LZFIX Sortino Ratio Rank: 1
LZFIX Omega Ratio Rank: 1
LZFIX Calmar Ratio Rank: 1
LZFIX Martin Ratio Rank: 1

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.

LDMIX vs. LZFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lazard Developing Markets Equity Portfolio (LDMIX) and Lazard Equity Franchise Portfolio (LZFIX). 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.

	LDMIX	LZFIX	Difference
Sharpe ratio: Return per unit of total volatility	2.46	-0.76	+3.22
Sortino ratio: Return per unit of downside risk	3.01	-0.99	+4.00
Omega ratio: Gain probability vs. loss probability	1.44	0.89	+0.56
Calmar ratio: Return relative to maximum drawdown	3.97	-0.56	+4.53
Martin ratio: Return relative to average drawdown	13.60	-0.94	+14.54

LDMIX vs. LZFIX - Sharpe Ratio Comparison

The current LDMIX Sharpe Ratio is 2.46, which is higher than the LZFIX Sharpe Ratio of -0.76. The chart below compares the historical Sharpe Ratios of LDMIX and LZFIX, 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

LDMIX vs. LZFIX - Drawdown Comparison

The maximum LDMIX drawdown since its inception was -51.12%, which is greater than LZFIX's maximum drawdown of -41.91%. Use the drawdown chart below to compare losses from any high point for LDMIX and LZFIX.

Drawdown Indicators

	LDMIX	LZFIX	Difference
Max Drawdown Largest peak-to-trough decline	-51.12%	-41.91%	-9.21%
Max Drawdown (1Y) Largest decline over 1 year	-13.14%	-20.87%	+7.73%
Max Drawdown (3Y) Largest decline over 3 years	-19.55%	-21.51%	+1.96%
Max Drawdown (5Y) Largest decline over 5 years	-40.13%	-21.69%	-18.44%
Max Drawdown (10Y) Largest decline over 10 years	-46.20%	—	—
Current Drawdown Current decline from peak	-5.87%	-12.95%	+7.08%
Average Drawdown Average peak-to-trough decline	-19.66%	-7.12%	-12.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.83%	12.44%	-8.61%

Volatility

LDMIX vs. LZFIX - Volatility Comparison

Lazard Developing Markets Equity Portfolio (LDMIX) has a higher volatility of 10.36% compared to Lazard Equity Franchise Portfolio (LZFIX) at 5.28%. This indicates that LDMIX's price experiences larger fluctuations and is considered to be riskier than LZFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LDMIX	LZFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.36%	5.28%	+5.08%
Volatility (6M) Calculated over the trailing 6-month period	19.06%	11.73%	+7.33%
Volatility (1Y) Calculated over the trailing 1-year period	21.19%	15.47%	+5.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.84%	17.88%	+0.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.51%	21.05%	-1.54%

LDMIX vs. LZFIX - Expense Ratio Comparison

LDMIX has a 1.15% expense ratio, which is higher than LZFIX's 0.99% expense ratio.

Dividends

LDMIX vs. LZFIX - Dividend Comparison

LDMIX's dividend yield for the trailing twelve months is around 0.91%, less than LZFIX's 21.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LDMIX Lazard Developing Markets Equity Portfolio	0.91%	1.17%	0.84%	2.24%	0.83%	1.00%	0.25%	0.54%	0.78%	0.20%	0.95%	0.56%
LZFIX Lazard Equity Franchise Portfolio	21.11%	20.87%	14.95%	8.68%	12.81%	15.59%	1.12%	5.78%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LDMIX and LZFIX in my portfolio?

LDMIX and LZFIX have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LDMIX or LZFIX?

LDMIX has higher volatility (10.36%) compared to LZFIX (5.28%). In terms of maximum drawdown, LDMIX dropped -51.12% vs LZFIX's -41.91%.

Which has better risk-adjusted returns?

LDMIX currently has the higher Sharpe Ratio (2.46 vs -0.76), 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.