LVAFX vs. FGIAX

Last updated Aug 1, 2026

LVAFX (LSV Global Managed Volatility Fund) and FGIAX (Nuveen Global Infrastructure Fund Class A) are both mutual funds - LVAFX is a Global Equities fund managed by BlackRock, while FGIAX is a Infrastructure Equities fund tracking the S&P Global Infrastructure Index NR. Over the past 10 years, LVAFX returned 8.15%/yr vs 8.21%/yr for FGIAX. Their 0.77 correlation means they have sometimes moved together and sometimes differently. LVAFX charges 1.00%/yr vs 1.21%/yr for FGIAX.

Performance

LVAFX vs. FGIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LSV Global Managed Volatility Fund (LVAFX) and Nuveen Global Infrastructure Fund Class A (FGIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LVAFX achieves a 17.34% return, which is significantly higher than FGIAX's 11.78% return. Both investments have delivered pretty close results over the past 10 years, with LVAFX having a 8.15% annualized return and FGIAX not far ahead at 8.21%.

LVAFX

• 1D: 0.31%
• 1M: 5.72%
• 6M: 12.90%
• YTD: 17.34%
• 1Y: 29.64%
• 3Y*: 14.26%
• 5Y*: 9.25%
• 10Y*: 8.15%
• ALL TIME*: 7.57%

FGIAX

• 1D: 0.31%
• 1M: -1.91%
• 6M: 6.48%
• YTD: 11.78%
• 1Y: 15.52%
• 3Y*: 14.04%
• 5Y*: 9.59%
• 10Y*: 8.21%
• ALL TIME*: 6.95%

*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)
FGIAX Nuveen Global Infrastructure Fund Class A	$0.00	$0.00	$0.00
LVAFX LSV Global Managed Volatility Fund	$0.00	$0.00	$0.00

LVAFX vs. FGIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LVAFX LSV Global Managed Volatility Fund	17.34%	22.33%	0.10%	9.81%	-4.04%	17.36%	-5.16%	17.54%	-6.47%	18.68%
FGIAX Nuveen Global Infrastructure Fund Class A	11.78%	17.73%	10.70%	8.51%	-6.23%	14.51%	-2.76%	29.32%	-7.91%	19.40%

Correlation

The correlation between LVAFX and FGIAX is 0.52, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.52
Correlation (3Y) Balances recent behavior with more history.	0.64
Correlation (5Y) Shows whether the relationship held over a longer period.	0.73
Correlation (10Y) Provides a long-term view across more market conditions.	0.74
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015	0.77

Over the past year, the correlation between LVAFX and FGIAX has dropped to 0.52 - well below their long-term average of 0.77, suggesting their price drivers have been diverging.

Return for Risk

LVAFX vs. FGIAX — Risk / Return Rank

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

LVAFX

LVAFX Risk / Return Rank: 97
LVAFX Sharpe Ratio Rank: 99
LVAFX Sortino Ratio Rank: 98
LVAFX Omega Ratio Rank: 96
LVAFX Calmar Ratio Rank: 97
LVAFX Martin Ratio Rank: 96

FGIAX

FGIAX Risk / Return Rank: 66
FGIAX Sharpe Ratio Rank: 63
FGIAX Sortino Ratio Rank: 62
FGIAX Omega Ratio Rank: 60
FGIAX Calmar Ratio Rank: 81
FGIAX Martin Ratio Rank: 67

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.

LVAFX vs. FGIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LSV Global Managed Volatility Fund (LVAFX) and Nuveen Global Infrastructure Fund Class A (FGIAX). 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.

	LVAFX	FGIAX	Difference
Sharpe ratio: Return per unit of total volatility	3.40	1.52	+1.89
Sortino ratio: Return per unit of downside risk	4.99	2.15	+2.85
Omega ratio: Gain probability vs. loss probability	1.64	1.27	+0.37
Calmar ratio: Return relative to maximum drawdown	5.01	2.68	+2.33
Martin ratio: Return relative to average drawdown	17.92	8.31	+9.61

LVAFX vs. FGIAX - Sharpe Ratio Comparison

The current LVAFX Sharpe Ratio is 3.40, which is higher than the FGIAX Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of LVAFX and FGIAX, 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

LVAFX vs. FGIAX - Drawdown Comparison

The maximum LVAFX drawdown since its inception was -33.69%, smaller than the maximum FGIAX drawdown of -49.35%. Use the drawdown chart below to compare losses from any high point for LVAFX and FGIAX.

Drawdown Indicators

	LVAFX	FGIAX	Difference
Max Drawdown Largest peak-to-trough decline	-33.69%	-49.35%	+15.66%
Max Drawdown (1Y) Largest decline over 1 year	-5.76%	-6.04%	+0.28%
Max Drawdown (3Y) Largest decline over 3 years	-17.52%	-9.68%	-7.84%
Max Drawdown (5Y) Largest decline over 5 years	-18.34%	-21.08%	+2.74%
Max Drawdown (10Y) Largest decline over 10 years	-33.69%	-38.02%	+4.33%
Current Drawdown Current decline from peak	0.00%	-2.72%	+2.72%
Average Drawdown Average peak-to-trough decline	-4.71%	-7.13%	+2.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.61%	1.94%	-0.33%

Volatility

LVAFX vs. FGIAX - Volatility Comparison

The current volatility for LSV Global Managed Volatility Fund (LVAFX) is 1.99%, while Nuveen Global Infrastructure Fund Class A (FGIAX) has a volatility of 3.34%. This indicates that LVAFX experiences smaller price fluctuations and is considered to be less risky than FGIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LVAFX	FGIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.99%	3.34%	-1.35%
Volatility (6M) Calculated over the trailing 6-month period	6.55%	9.07%	-2.52%
Volatility (1Y) Calculated over the trailing 1-year period	8.51%	10.70%	-2.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.24%	13.25%	-0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.53%	15.16%	-1.63%

LVAFX vs. FGIAX - Expense Ratio Comparison

LVAFX has a 1.00% expense ratio, which is lower than FGIAX's 1.21% expense ratio.

Dividends

LVAFX vs. FGIAX - Dividend Comparison

LVAFX's dividend yield for the trailing twelve months is around 8.67%, less than FGIAX's 14.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FGIAX Nuveen Global Infrastructure Fund Class A	14.27%	9.99%	7.46%	2.27%	6.11%	7.20%	1.38%	7.06%	6.32%	5.83%	8.23%	3.05%
LVAFX LSV Global Managed Volatility Fund	8.67%	10.17%	2.71%	15.64%	2.90%	2.90%	2.14%	7.62%	3.59%	7.10%	1.66%	1.74%

Frequently Asked Questions

Can I hold both LVAFX and FGIAX in my portfolio?

LVAFX and FGIAX have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LVAFX or FGIAX?

FGIAX has higher volatility (3.34%) compared to LVAFX (1.99%). In terms of maximum drawdown, LVAFX dropped -33.69% vs FGIAX's -49.35%.

Which has better risk-adjusted returns?

LVAFX currently has the higher Sharpe Ratio (3.40 vs 1.52), 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.