LDMIX vs. UMNIX

Last updated Aug 1, 2026

LDMIX (Lazard Developing Markets Equity Portfolio) and UMNIX (Lazard US Short Duration Fixed Income Portfolio) are both mutual funds - LDMIX is a Emerging Markets Equities fund managed by Lazard, while UMNIX is a Ultrashort Bond fund managed by Lazard. Their -0.05 correlation means they have often moved in opposite directions in the past. LDMIX charges 1.15%/yr vs 0.40%/yr for UMNIX.

Performance

LDMIX vs. UMNIX - Performance Comparison

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

Returns By Period

LDMIX

• 1D: 2.79%
• 1M: -4.52%
• 6M: 10.68%
• YTD: 20.50%
• 1Y: 43.13%
• 3Y*: 18.45%
• 5Y*: 6.58%
• 10Y*: 8.49%
• ALL TIME*: 6.36%

UMNIX

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

*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)
LDMIX Lazard Developing Markets Equity Portfolio	$0.00	$0.00	$0.00

LDMIX vs. UMNIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LDMIX Lazard Developing Markets Equity Portfolio	20.50%	33.67%	6.73%	9.68%	-22.61%	-10.14%	19.33%	28.17%	-20.57%	41.15%
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 LDMIX and UMNIX is -0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.01
Correlation (3Y) Balances recent behavior with more history.	0.01
Correlation (5Y) Shows whether the relationship held over a longer period.	0.02
Correlation (10Y) Provides a long-term view across more market conditions.	-0.02
Correlation (All Time) Calculated using the full available price history since Feb 28, 2011	-0.05

Return for Risk

LDMIX vs. UMNIX — Risk / Return Rank

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

LDMIX

LDMIX Risk / Return Rank: 72
LDMIX Sharpe Ratio Rank: 75
LDMIX Sortino Ratio Rank: 64
LDMIX Omega Ratio Rank: 71
LDMIX Calmar Ratio Rank: 83
LDMIX Martin Ratio Rank: 71

UMNIX

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

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.

LDMIX vs. UMNIX - Risk-Adjusted Trends Comparison

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

	LDMIX	UMNIX	Difference
Sharpe ratio: Return per unit of total volatility	1.78	—	—
Sortino ratio: Return per unit of downside risk	2.28	—	—
Omega ratio: Gain probability vs. loss probability	1.32	—	—
Calmar ratio: Return relative to maximum drawdown	2.84	—	—
Martin ratio: Return relative to average drawdown	8.94	—	—

Drawdowns

Drawdown Indicators

	LDMIX	UMNIX	Difference
Max Drawdown Largest peak-to-trough decline	-51.12%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-14.14%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-19.55%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-37.77%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-46.20%	—	—
Current Drawdown Current decline from peak	-11.75%	—	—
Average Drawdown Average peak-to-trough decline	-19.63%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	4.49%	—	—

Volatility

Volatility by Period

	LDMIX	UMNIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.75%	—	—
Volatility (6M) Calculated over the trailing 6-month period	20.41%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	22.57%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.07%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.65%	—	—

LDMIX vs. UMNIX - Expense Ratio Comparison

LDMIX has a 1.15% expense ratio, which is higher than UMNIX's 0.40% expense ratio.

Dividends

LDMIX vs. UMNIX - Dividend Comparison

LDMIX's dividend yield for the trailing twelve months is around 0.97%, less than UMNIX's 2.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LDMIX Lazard Developing Markets Equity Portfolio	0.97%	1.17%	0.84%	2.24%	0.83%	1.00%	0.25%	0.54%	0.78%	0.20%	0.95%	0.56%
UMNIX Lazard US Short Duration Fixed Income Portfolio	2.35%	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 LDMIX and UMNIX in my portfolio?

LDMIX and UMNIX have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.