LGI vs. UTG

Last updated Aug 4, 2026

LGI (Lazard Global Total Return and Income Fund) is Global Allocation fund managed by Lazard, while UTG (Reaves Utility Income Trust) is a stock. Over the past 10 years, LGI returned 12.91%/yr vs 9.50%/yr for UTG. Their 0.43 correlation means their historical movements had little consistent relationship.

Performance

LGI vs. UTG - Performance Comparison

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

Returns By Period

In the year-to-date period, LGI achieves a 10.46% return, which is significantly higher than UTG's 8.41% return. Over the past 10 years, LGI has outperformed UTG with an annualized return of 12.91%, while UTG has yielded a comparatively lower 9.50% annualized return.

LGI

• 1D: 0.22%
• 1M: -1.72%
• 6M: 2.85%
• YTD: 10.46%
• 1Y: 20.52%
• 3Y*: 16.98%
• 5Y*: 6.84%
• 10Y*: 12.91%
• ALL TIME*: 8.36%

UTG

• 1D: 0.13%
• 1M: -2.86%
• 6M: 6.23%
• YTD: 8.41%
• 1Y: 7.16%
• 3Y*: 20.72%
• 5Y*: 9.45%
• 10Y*: 9.50%
• ALL TIME*: 10.76%

*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)
LGI Lazard Global Total Return and Income Fund	$696.26K	$637.90K	$669.54K
UTG Reaves Utility Income Trust	$13.12M	$11.15M	$10.73M

LGI vs. UTG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LGI Lazard Global Total Return and Income Fund	10.46%	21.36%	14.00%	12.89%	-20.57%	25.28%	17.04%	30.25%	-10.51%	39.37%
UTG Reaves Utility Income Trust	8.41%	23.24%	28.10%	2.84%	-13.38%	14.26%	-5.25%	33.65%	1.84%	6.74%

Correlation

The correlation between LGI and UTG is 0.25, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.25
Correlation (3Y) Balances recent behavior with more history.	0.34
Correlation (5Y) Shows whether the relationship held over a longer period.	0.44
Correlation (10Y) Provides a long-term view across more market conditions.	0.40
Correlation (All Time) Calculated using the full available price history since May 6, 2004	0.43

The correlation between LGI and UTG shifts across timeframes, from 0.25 (1 year) to 0.44 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

LGI vs. UTG — Risk / Return Rank

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

LGI

LGI Risk / Return Rank: 30
LGI Sharpe Ratio Rank: 37
LGI Sortino Ratio Rank: 34
LGI Omega Ratio Rank: 40
LGI Calmar Ratio Rank: 19
LGI Martin Ratio Rank: 22

UTG

UTG Risk / Return Rank: 55
UTG Sharpe Ratio Rank: 59
UTG Sortino Ratio Rank: 50
UTG Omega Ratio Rank: 48
UTG Calmar Ratio Rank: 58
UTG Martin Ratio Rank: 59

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.

LGI vs. UTG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lazard Global Total Return and Income Fund (LGI) and Reaves Utility Income Trust (UTG). 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	UTG	Difference
Sharpe ratio: Return per unit of total volatility	1.24	0.40	+0.84
Sortino ratio: Return per unit of downside risk	1.70	0.64	+1.06
Omega ratio: Gain probability vs. loss probability	1.24	1.08	+0.16
Calmar ratio: Return relative to maximum drawdown	0.97	0.58	+0.39
Martin ratio: Return relative to average drawdown	3.37	1.21	+2.16

LGI vs. UTG - Sharpe Ratio Comparison

The current LGI Sharpe Ratio is 1.24, which is higher than the UTG Sharpe Ratio of 0.40. The chart below compares the historical Sharpe Ratios of LGI and UTG, 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. UTG - Drawdown Comparison

The maximum LGI drawdown since its inception was -63.34%, smaller than the maximum UTG drawdown of -67.77%. Use the drawdown chart below to compare losses from any high point for LGI and UTG.

Drawdown Indicators

	LGI	UTG	Difference
Max Drawdown Largest peak-to-trough decline	-63.34%	-67.77%	+4.43%
Max Drawdown (1Y) Largest decline over 1 year	-21.25%	-12.51%	-8.74%
Max Drawdown (3Y) Largest decline over 3 years	-21.95%	-14.95%	-7.00%
Max Drawdown (5Y) Largest decline over 5 years	-32.84%	-26.54%	-6.30%
Max Drawdown (10Y) Largest decline over 10 years	-42.94%	-47.91%	+4.97%
Current Drawdown Current decline from peak	-4.55%	-10.48%	+5.93%
Average Drawdown Average peak-to-trough decline	-10.90%	-8.72%	-2.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.10%	5.91%	+0.19%

Volatility

LGI vs. UTG - Volatility Comparison

The current volatility for Lazard Global Total Return and Income Fund (LGI) is 4.06%, while Reaves Utility Income Trust (UTG) has a volatility of 5.23%. This indicates that LGI experiences smaller price fluctuations and is considered to be less risky than UTG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LGI	UTG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.06%	5.23%	-1.17%
Volatility (6M) Calculated over the trailing 6-month period	14.80%	14.08%	+0.72%
Volatility (1Y) Calculated over the trailing 1-year period	16.62%	18.04%	-1.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.35%	17.17%	+2.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.01%	21.71%	-1.70%

Dividends

LGI vs. UTG - Dividend Comparison

LGI's dividend yield for the trailing twelve months is around 9.96%, more than UTG's 6.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LGI Lazard Global Total Return and Income Fund	9.96%	10.08%	9.19%	7.32%	10.22%	9.77%	7.17%	6.44%	19.88%	5.46%	6.94%	8.52%
UTG Reaves Utility Income Trust	6.26%	6.42%	7.19%	8.53%	8.07%	6.35%	6.59%	5.69%	6.86%	6.21%	9.02%	6.86%

Frequently Asked Questions

Can I hold both LGI and UTG in my portfolio?

LGI and UTG have a correlation of 0.25, 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 UTG?

UTG has higher volatility (5.23%) compared to LGI (4.06%). In terms of maximum drawdown, LGI dropped -63.34% vs UTG's -67.77%.

Which has better risk-adjusted returns?

LGI currently has the higher Sharpe Ratio (1.24 vs 0.40), 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.