LDMIX vs. VEA

Last updated Jun 24, 2026

LDMIX (Lazard Developing Markets Equity Portfolio) and VEA (Vanguard FTSE Developed Markets ETF) are both funds - LDMIX is a Emerging Markets Diversified fund managed by Lazard, while VEA is a Foreign Large Cap Equities fund tracking the FTSE Developed All Cap ex US Index. Over the past 10 years, LDMIX returned 10.79%/yr vs 10.72%/yr for VEA. A 0.75 correlation means they provide meaningful diversification when combined. LDMIX charges 1.15%/yr vs 0.03%/yr for VEA.

Performance

LDMIX vs. VEA - Performance Comparison

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

Returns By Period

In the year-to-date period, LDMIX achieves a 36.53% return, which is significantly higher than VEA's 13.11% return. Both investments have delivered pretty close results over the past 10 years, with LDMIX having a 10.79% annualized return and VEA not far behind at 10.72%.

LDMIX

• 1D: 0.12%
• 1M: 8.58%
• YTD: 36.53%
• 6M: 38.41%
• 1Y: 68.43%
• 3Y*: 26.31%
• 5Y*: 7.89%
• 10Y*: 10.79%

VEA

• 1D: -3.07%
• 1M: 0.11%
• YTD: 13.11%
• 6M: 12.98%
• 1Y: 30.28%
• 3Y*: 19.47%
• 5Y*: 9.50%
• 10Y*: 10.72%

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

LDMIX vs. VEA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LDMIX Lazard Developing Markets Equity Portfolio	36.53%	33.67%	6.73%	9.68%	-22.61%	-10.14%	19.33%	28.17%	-20.57%	41.15%
VEA Vanguard FTSE Developed Markets ETF	13.11%	35.16%	3.15%	17.93%	-15.34%	11.66%	9.71%	22.62%	-14.75%	26.42%

Correlation

The correlation between LDMIX and VEA is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since Oct 1, 2008	0.75

The correlation between LDMIX and VEA shifts across timeframes, from 0.64 (1 year) to 0.75 (all time), reflecting how their relationship changes across market environments.

Return for Risk

LDMIX vs. VEA — Risk / Return Rank

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

LDMIX

LDMIX Risk / Return Rank: 93
LDMIX Sharpe Ratio Rank: 98
LDMIX Sortino Ratio Rank: 91
LDMIX Omega Ratio Rank: 90
LDMIX Calmar Ratio Rank: 94
LDMIX Martin Ratio Rank: 94

VEA

VEA Risk / Return Rank: 55
VEA Sharpe Ratio Rank: 55
VEA Sortino Ratio Rank: 53
VEA Omega Ratio Rank: 55
VEA Calmar Ratio Rank: 55
VEA Martin Ratio Rank: 59

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. VEA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lazard Developing Markets Equity Portfolio (LDMIX) and Vanguard FTSE Developed Markets ETF (VEA). 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	VEA	Difference
Sharpe ratio: Return per unit of total volatility	3.46	1.81	+1.65
Sortino ratio: Return per unit of downside risk	4.14	2.48	+1.66
Omega ratio: Gain probability vs. loss probability	1.61	1.33	+0.28
Calmar ratio: Return relative to maximum drawdown	5.22	2.62	+2.61
Martin ratio: Return relative to average drawdown	18.85	10.06	+8.79

LDMIX vs. VEA - Sharpe Ratio Comparison

The current LDMIX Sharpe Ratio is 3.46, which is higher than the VEA Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of LDMIX and VEA, 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. VEA - Drawdown Comparison

The maximum LDMIX drawdown since its inception was -51.12%, smaller than the maximum VEA drawdown of -60.68%. Use the drawdown chart below to compare losses from any high point for LDMIX and VEA.

Drawdown Indicators

	LDMIX	VEA	Difference
Max Drawdown Largest peak-to-trough decline	-51.12%	-60.68%	+9.56%
Max Drawdown (1Y) Largest decline over 1 year	-13.14%	-11.63%	-1.51%
Max Drawdown (3Y) Largest decline over 3 years	-19.55%	-13.45%	-6.10%
Max Drawdown (5Y) Largest decline over 5 years	-41.63%	-29.71%	-11.92%
Max Drawdown (10Y) Largest decline over 10 years	-46.20%	-35.73%	-10.47%
Current Drawdown Current decline from peak	0.00%	-3.07%	+3.07%
Average Drawdown Average peak-to-trough decline	-19.70%	-13.26%	-6.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.64%	3.02%	+0.62%

Volatility

LDMIX vs. VEA - Volatility Comparison

Lazard Developing Markets Equity Portfolio (LDMIX) has a higher volatility of 9.91% compared to Vanguard FTSE Developed Markets ETF (VEA) at 7.09%. This indicates that LDMIX's price experiences larger fluctuations and is considered to be riskier than VEA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LDMIX	VEA	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.91%	7.09%	+2.82%
Volatility (6M) Calculated over the trailing 6-month period	17.36%	14.74%	+2.62%
Volatility (1Y) Calculated over the trailing 1-year period	19.87%	16.79%	+3.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.54%	16.76%	+1.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.46%	17.21%	+2.25%

LDMIX vs. VEA - Expense Ratio Comparison

LDMIX has a 1.15% expense ratio, which is higher than VEA's 0.03% expense ratio.

Dividends

LDMIX vs. VEA - Dividend Comparison

LDMIX's dividend yield for the trailing twelve months is around 0.86%, less than VEA's 2.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VEA Vanguard FTSE Developed Markets ETF	2.58%	3.22%	3.35%	3.15%	2.91%	3.16%	2.04%	3.04%	3.35%	2.77%	3.05%	2.92%

Frequently Asked Questions

Can I hold both LDMIX and VEA in my portfolio?

LDMIX and VEA have a correlation of 0.64, 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 VEA?

LDMIX has higher volatility (9.91%) compared to VEA (7.09%). In terms of maximum drawdown, LDMIX dropped -51.12% vs VEA's -60.68%.

Which has better risk-adjusted returns?

LDMIX currently has the higher Sharpe Ratio (3.46 vs 1.81), 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.