LGI vs. FPF

Last updated Jun 23, 2026

LGI (Lazard Global Total Return and Income Fund) and FPF (First Trust Intermediate Duration Preferred and Income Fund) are both mutual funds - LGI is a Global Allocation fund managed by Lazard, while FPF is a Preferred Stock/Convertible Bonds fund managed by First Trust. Over the past 10 years, LGI returned 13.71%/yr vs 5.64%/yr for FPF. At a 0.37 correlation, their price movements are largely independent. LGI charges 0.02%/yr vs 0.02%/yr for FPF.

Performance

LGI vs. FPF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Lazard Global Total Return and Income Fund (LGI) and First Trust Intermediate Duration Preferred and Income Fund (FPF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LGI achieves a 9.26% return, which is significantly higher than FPF's -0.31% return. Over the past 10 years, LGI has outperformed FPF with an annualized return of 13.71%, while FPF has yielded a comparatively lower 5.64% annualized return.

LGI

• 1D: -0.11%
• 1M: 1.42%
• YTD: 9.26%
• 6M: 7.96%
• 1Y: 24.58%
• 3Y*: 16.18%
• 5Y*: 7.12%
• 10Y*: 13.71%

FPF

• 1D: -0.39%
• 1M: 0.14%
• YTD: -0.31%
• 6M: 0.64%
• 1Y: 6.09%
• 3Y*: 15.36%
• 5Y*: 1.68%
• 10Y*: 5.64%

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

LGI vs. FPF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LGI Lazard Global Total Return and Income Fund	9.26%	21.36%	14.00%	12.89%	-20.57%	25.28%	17.04%	30.25%	-10.51%	39.37%
FPF First Trust Intermediate Duration Preferred and Income Fund	-0.31%	13.14%	20.90%	5.31%	-25.83%	9.12%	9.67%	28.24%	-11.97%	15.99%

Correlation

The correlation between LGI and FPF is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.48
Correlation (10Y) Calculated over the trailing 10-year period	0.40
Correlation (All Time) Calculated using the full available price history since May 24, 2013	0.37

The correlation between LGI and FPF shifts across timeframes, from 0.37 (all time) to 0.48 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

LGI vs. FPF — Risk / Return Rank

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

LGI

LGI Risk / Return Rank: 25
LGI Sharpe Ratio Rank: 32
LGI Sortino Ratio Rank: 27
LGI Omega Ratio Rank: 36
LGI Calmar Ratio Rank: 13
LGI Martin Ratio Rank: 16

FPF

FPF Risk / Return Rank: 8
FPF Sharpe Ratio Rank: 9
FPF Sortino Ratio Rank: 8
FPF Omega Ratio Rank: 9
FPF Calmar Ratio Rank: 7
FPF Martin Ratio Rank: 7

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.

LGI vs. FPF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lazard Global Total Return and Income Fund (LGI) and First Trust Intermediate Duration Preferred and Income Fund (FPF). 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.

	LGI	FPF	Difference
Sharpe ratio: Return per unit of total volatility	1.51	0.71	+0.81
Sortino ratio: Return per unit of downside risk	2.03	0.99	+1.04
Omega ratio: Gain probability vs. loss probability	1.29	1.14	+0.16
Calmar ratio: Return relative to maximum drawdown	1.16	0.60	+0.56
Martin ratio: Return relative to average drawdown	4.15	1.82	+2.33

LGI vs. FPF - Sharpe Ratio Comparison

The current LGI Sharpe Ratio is 1.51, which is higher than the FPF Sharpe Ratio of 0.71. The chart below compares the historical Sharpe Ratios of LGI and FPF, 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

LGI vs. FPF - Drawdown Comparison

The maximum LGI drawdown since its inception was -63.34%, which is greater than FPF's maximum drawdown of -53.78%. Use the drawdown chart below to compare losses from any high point for LGI and FPF.

Drawdown Indicators

	LGI	FPF	Difference
Max Drawdown Largest peak-to-trough decline	-63.34%	-53.78%	-9.56%
Max Drawdown (1Y) Largest decline over 1 year	-21.25%	-10.13%	-11.12%
Max Drawdown (3Y) Largest decline over 3 years	-21.95%	-11.81%	-10.14%
Max Drawdown (5Y) Largest decline over 5 years	-32.84%	-37.06%	+4.22%
Max Drawdown (10Y) Largest decline over 10 years	-42.94%	-53.78%	+10.84%
Current Drawdown Current decline from peak	-5.59%	-4.42%	-1.17%
Average Drawdown Average peak-to-trough decline	-10.94%	-8.41%	-2.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.94%	3.35%	+2.59%

Volatility

LGI vs. FPF - Volatility Comparison

Lazard Global Total Return and Income Fund (LGI) has a higher volatility of 3.89% compared to First Trust Intermediate Duration Preferred and Income Fund (FPF) at 1.74%. This indicates that LGI's price experiences larger fluctuations and is considered to be riskier than FPF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LGI	FPF	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.89%	1.74%	+2.15%
Volatility (6M) Calculated over the trailing 6-month period	14.42%	7.24%	+7.18%
Volatility (1Y) Calculated over the trailing 1-year period	16.36%	8.68%	+7.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.33%	14.53%	+4.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.10%	25.01%	-4.91%

LGI vs. FPF - Expense Ratio Comparison

LGI has a 0.02% expense ratio, which is higher than FPF's 0.02% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

LGI vs. FPF - Dividend Comparison

LGI's dividend yield for the trailing twelve months is around 9.95%, more than FPF's 9.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FPF First Trust Intermediate Duration Preferred and Income Fund	9.22%	8.85%	9.17%	8.31%	8.62%	6.75%	6.55%	7.08%	8.79%	7.63%	9.31%	9.16%
LGI Lazard Global Total Return and Income Fund	9.95%	10.08%	9.19%	7.32%	10.22%	9.77%	7.17%	6.44%	19.88%	5.46%	6.94%	8.52%

Frequently Asked Questions

Can I hold both LGI and FPF in my portfolio?

LGI and FPF have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LGI or FPF?

LGI has higher volatility (3.89%) compared to FPF (1.74%). In terms of maximum drawdown, LGI dropped -63.34% vs FPF's -53.78%.

Which has better risk-adjusted returns?

LGI currently has the higher Sharpe Ratio (1.51 vs 0.71), 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.