LZFIX vs. GLFOX
LZFIX (Lazard Equity Franchise Portfolio) and GLFOX (Lazard Global Listed Infrastructure Portfolio Open Shares) are both mutual funds - LZFIX is a Large Cap Value Equities fund managed by Lazard, while GLFOX is a Infrastructure Equities fund managed by Lazard. Over the past 5 years, LZFIX returned 4.69%/yr vs 10.55%/yr for GLFOX. Their 0.64 correlation means they have sometimes moved together and sometimes differently. LZFIX charges 0.99%/yr vs 1.22%/yr for GLFOX.
Performance
LZFIX vs. GLFOX - Performance Comparison
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Returns By Period
In the year-to-date period, LZFIX achieves a 5.14% return, which is significantly lower than GLFOX's 7.60% return.
LZFIX
- 1D
- -2.07%
- 1M
- 6.92%
- 6M
- 7.07%
- YTD
- 5.14%
- 1Y
- -0.37%
- 3Y*
- 2.77%
- 5Y*
- 4.69%
- 10Y*
- —
- ALL TIME*
- 6.93%
GLFOX
- 1D
- -0.36%
- 1M
- -1.14%
- 6M
- 3.72%
- YTD
- 7.60%
- 1Y
- 14.26%
- 3Y*
- 13.10%
- 5Y*
- 10.55%
- 10Y*
- 9.70%
- ALL TIME*
- 10.60%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
LZFIX vs. GLFOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
LZFIX Lazard Equity Franchise Portfolio | 5.14% | 4.09% | -3.09% | 18.84% | -5.29% | 22.88% | 1.15% | 9.25% |
GLFOX Lazard Global Listed Infrastructure Portfolio Open Shares | 7.60% | 23.53% | 6.43% | 10.59% | -1.59% | 19.67% | -4.71% | 10.05% |
Correlation
The correlation between LZFIX and GLFOX is 0.33, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.33 |
Correlation (3Y) Balances recent behavior with more history. | 0.54 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.61 |
Correlation (All Time) Calculated using the full available price history since May 14, 2019 | 0.64 |
Over the past year, the correlation between LZFIX and GLFOX has dropped to 0.33 - well below their long-term average of 0.64, suggesting their price drivers have been diverging.
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Return for Risk
LZFIX vs. GLFOX — Risk / Return Rank
LZFIX
GLFOX
LZFIX vs. GLFOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Lazard Equity Franchise Portfolio (LZFIX) and Lazard Global Listed Infrastructure Portfolio Open Shares (GLFOX). 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.
| LZFIX | GLFOX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.44 | ||
| Sortino ratioReturn per unit of downside risk | -1.88 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.24 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.13 | 1.55 | -1.68 |
| Martin ratioReturn relative to average drawdown | -0.22 | 4.18 | -4.41 |
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Drawdowns
LZFIX vs. GLFOX - Drawdown Comparison
The maximum LZFIX drawdown since its inception was -41.91%, which is greater than GLFOX's maximum drawdown of -29.65%. Use the drawdown chart below to compare losses from any high point for LZFIX and GLFOX.
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Drawdown Indicators
| LZFIX | GLFOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.91% | -29.65% | -12.26% |
Max Drawdown (1Y)Largest decline over 1 year | -19.87% | -9.01% | -10.86% |
Max Drawdown (3Y)Largest decline over 3 years | -21.51% | -9.01% | -12.50% |
Max Drawdown (5Y)Largest decline over 5 years | -21.69% | -17.14% | -4.55% |
Max Drawdown (10Y)Largest decline over 10 years | — | -29.65% | — |
Current DrawdownCurrent decline from peak | -7.45% | -5.55% | -1.90% |
Average DrawdownAverage peak-to-trough decline | -7.15% | -3.43% | -3.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.65% | 3.33% | +8.32% |
Volatility
LZFIX vs. GLFOX - Volatility Comparison
Lazard Equity Franchise Portfolio (LZFIX) has a higher volatility of 7.71% compared to Lazard Global Listed Infrastructure Portfolio Open Shares (GLFOX) at 2.84%. This indicates that LZFIX's price experiences larger fluctuations and is considered to be riskier than GLFOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LZFIX | GLFOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.71% | 2.84% | +4.87% |
Volatility (6M)Calculated over the trailing 6-month period | 13.18% | 9.48% | +3.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.60% | 10.88% | +5.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.10% | 11.01% | +7.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.12% | 13.19% | +7.93% |
LZFIX vs. GLFOX - Expense Ratio Comparison
LZFIX has a 0.99% expense ratio, which is lower than GLFOX's 1.22% expense ratio.
Dividends
LZFIX vs. GLFOX - Dividend Comparison
LZFIX's dividend yield for the trailing twelve months is around 19.85%, more than GLFOX's 7.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLFOX Lazard Global Listed Infrastructure Portfolio Open Shares | 7.09% | 6.03% | 4.00% | 2.69% | 14.50% | 6.02% | 2.39% | 4.20% | 13.99% | 6.82% | 2.07% | 11.01% |
LZFIX Lazard Equity Franchise Portfolio | 19.85% | 20.87% | 14.95% | 8.68% | 12.81% | 15.59% | 1.12% | 5.78% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
LZFIX and GLFOX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LZFIX has higher volatility (7.71%) compared to GLFOX (2.84%). In terms of maximum drawdown, LZFIX dropped -41.91% vs GLFOX's -29.65%.
GLFOX currently has the higher Sharpe Ratio (1.28 vs -0.16), 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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