LEAIX vs. LZFIX
LEAIX (Lazard Emerging Markets Equity Advantage Portfolio) and LZFIX (Lazard Equity Franchise Portfolio) are both mutual funds - LEAIX 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, LEAIX returned 9.34%/yr vs 3.23%/yr for LZFIX. A 0.51 correlation means they provide meaningful diversification when combined. LEAIX charges 0.91%/yr vs 0.99%/yr for LZFIX.
Performance
LEAIX vs. LZFIX - Performance Comparison
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Returns By Period
In the year-to-date period, LEAIX achieves a 25.11% return, which is significantly higher than LZFIX's -1.11% return.
LEAIX
- 1D
- 0.51%
- 1M
- -1.56%
- 6M
- 18.09%
- YTD
- 25.11%
- 1Y
- 43.20%
- 3Y*
- 24.50%
- 5Y*
- 9.34%
- 10Y*
- 10.98%
LZFIX
- 1D
- 0.85%
- 1M
- 4.55%
- 6M
- -1.39%
- YTD
- -1.11%
- 1Y
- -10.40%
- 3Y*
- 1.14%
- 5Y*
- 3.23%
- 10Y*
- —
LEAIX vs. LZFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
LEAIX Lazard Emerging Markets Equity Advantage Portfolio | 25.11% | 33.74% | 11.41% | 12.67% | -21.01% | 0.96% | 17.39% | 13.54% |
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 LEAIX and LZFIX is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since May 14, 2019 | 0.51 |
Over the past year, the correlation between LEAIX and LZFIX has dropped to 0.17 - well below their long-term average of 0.51, suggesting their price drivers have been diverging.
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Return for Risk
LEAIX vs. LZFIX — Risk / Return Rank
LEAIX
LZFIX
LEAIX vs. LZFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Lazard Emerging Markets Equity Advantage Portfolio (LEAIX) 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.
| LEAIX | LZFIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.02 | ||
| Sortino ratioReturn per unit of downside risk | +3.89 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 0.89 | +0.52 |
| Calmar ratioReturn relative to maximum drawdown | 3.24 | -0.56 | +3.80 |
| Martin ratioReturn relative to average drawdown | 11.45 | -0.94 | +12.39 |
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Drawdowns
LEAIX vs. LZFIX - Drawdown Comparison
The maximum LEAIX drawdown since its inception was -37.24%, smaller than the maximum LZFIX drawdown of -41.91%. Use the drawdown chart below to compare losses from any high point for LEAIX and LZFIX.
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Drawdown Indicators
| LEAIX | LZFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.24% | -41.91% | +4.67% |
Max Drawdown (1Y)Largest decline over 1 year | -13.29% | -20.87% | +7.58% |
Max Drawdown (3Y)Largest decline over 3 years | -16.21% | -21.51% | +5.30% |
Max Drawdown (5Y)Largest decline over 5 years | -34.77% | -21.69% | -13.08% |
Max Drawdown (10Y)Largest decline over 10 years | -37.24% | — | — |
Current DrawdownCurrent decline from peak | -5.73% | -12.95% | +7.22% |
Average DrawdownAverage peak-to-trough decline | -11.45% | -7.12% | -4.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.75% | 12.44% | -8.69% |
Volatility
LEAIX vs. LZFIX - Volatility Comparison
Lazard Emerging Markets Equity Advantage Portfolio (LEAIX) has a higher volatility of 9.19% compared to Lazard Equity Franchise Portfolio (LZFIX) at 5.28%. This indicates that LEAIX'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.
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Volatility by Period
| LEAIX | LZFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.19% | 5.28% | +3.91% |
Volatility (6M)Calculated over the trailing 6-month period | 17.01% | 11.73% | +5.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.00% | 15.47% | +3.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.65% | 17.88% | -1.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.62% | 21.05% | -3.43% |
LEAIX vs. LZFIX - Expense Ratio Comparison
LEAIX has a 0.91% expense ratio, which is lower than LZFIX's 0.99% expense ratio.
Dividends
LEAIX vs. LZFIX - Dividend Comparison
LEAIX's dividend yield for the trailing twelve months is around 1.52%, less than LZFIX's 21.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
LEAIX Lazard Emerging Markets Equity Advantage Portfolio | 1.52% | 1.90% | 1.52% | 1.93% | 3.42% | 8.01% | 0.84% | 1.92% | 2.43% | 1.15% | 1.62% |
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% |
Frequently Asked Questions
LEAIX and LZFIX have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LEAIX has higher volatility (9.19%) compared to LZFIX (5.28%). In terms of maximum drawdown, LEAIX dropped -37.24% vs LZFIX's -41.91%.
LEAIX currently has the higher Sharpe Ratio (2.26 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.
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