LZFIX vs. HDCTX
LZFIX (Lazard Equity Franchise Portfolio) and HDCTX (Rational Equity Armor Fund) are both Large Cap Value Equities funds. Over the past 5 years, LZFIX returned 4.56%/yr vs 6.21%/yr for HDCTX. Their 0.56 correlation means they have sometimes moved together and sometimes differently. LZFIX charges 0.99%/yr vs 1.17%/yr for HDCTX.
Performance
LZFIX vs. HDCTX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, LZFIX achieves a 4.44% return, which is significantly lower than HDCTX's 7.27% return.
LZFIX
- 1D
- -0.66%
- 1M
- 6.21%
- 6M
- 6.97%
- YTD
- 4.44%
- 1Y
- -1.03%
- 3Y*
- 2.84%
- 5Y*
- 4.56%
- 10Y*
- —
- ALL TIME*
- 6.82%
HDCTX
- 1D
- 1.14%
- 1M
- -0.43%
- 6M
- 5.50%
- YTD
- 7.27%
- 1Y
- 14.26%
- 3Y*
- 13.30%
- 5Y*
- 6.21%
- 10Y*
- 5.01%
- ALL TIME*
- 5.71%
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. HDCTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
LZFIX Lazard Equity Franchise Portfolio | 4.44% | 4.09% | -3.09% | 18.84% | -5.29% | 22.88% | 1.15% | 9.25% |
HDCTX Rational Equity Armor Fund | 7.27% | 12.64% | 16.85% | 2.95% | -10.68% | 14.52% | 15.85% | 6.15% |
Correlation
The correlation between LZFIX and HDCTX is 0.05, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.05 |
Correlation (3Y) Balances recent behavior with more history. | 0.31 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.48 |
Correlation (All Time) Calculated using the full available price history since May 14, 2019 | 0.56 |
Over the past year, the correlation between LZFIX and HDCTX has dropped to 0.05 - well below their long-term average of 0.56, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
LZFIX vs. HDCTX — Risk / Return Rank
LZFIX
HDCTX
LZFIX vs. HDCTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Lazard Equity Franchise Portfolio (LZFIX) and Rational Equity Armor Fund (HDCTX). 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 | HDCTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.41 | ||
| Sortino ratioReturn per unit of downside risk | -1.97 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.24 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 1.88 | -1.93 |
| Martin ratioReturn relative to average drawdown | -0.08 | 4.29 | -4.37 |
Loading charts...
Drawdowns
LZFIX vs. HDCTX - Drawdown Comparison
The maximum LZFIX drawdown since its inception was -41.91%, smaller than the maximum HDCTX drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for LZFIX and HDCTX.
Loading charts...
Drawdown Indicators
| LZFIX | HDCTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.91% | -59.05% | +17.14% |
Max Drawdown (1Y)Largest decline over 1 year | -19.87% | -6.95% | -12.92% |
Max Drawdown (3Y)Largest decline over 3 years | -21.51% | -11.74% | -9.77% |
Max Drawdown (5Y)Largest decline over 5 years | -21.69% | -18.22% | -3.47% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.82% | — |
Current DrawdownCurrent decline from peak | -8.06% | -4.39% | -3.67% |
Average DrawdownAverage peak-to-trough decline | -7.15% | -6.40% | -0.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.65% | 3.05% | +8.60% |
Volatility
LZFIX vs. HDCTX - Volatility Comparison
Lazard Equity Franchise Portfolio (LZFIX) has a higher volatility of 7.38% compared to Rational Equity Armor Fund (HDCTX) at 2.41%. This indicates that LZFIX's price experiences larger fluctuations and is considered to be riskier than HDCTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| LZFIX | HDCTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.38% | 2.41% | +4.97% |
Volatility (6M)Calculated over the trailing 6-month period | 13.19% | 7.38% | +5.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.52% | 9.69% | +6.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.09% | 10.64% | +7.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.12% | 11.56% | +9.56% |
LZFIX vs. HDCTX - Expense Ratio Comparison
LZFIX has a 0.99% expense ratio, which is lower than HDCTX's 1.17% expense ratio.
Dividends
LZFIX vs. HDCTX - Dividend Comparison
LZFIX's dividend yield for the trailing twelve months is around 19.99%, more than HDCTX's 0.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HDCTX Rational Equity Armor Fund | 0.19% | 0.00% | 0.00% | 0.17% | 0.78% | 1.21% | 1.10% | 5.37% | 7.86% | 5.60% | 3.28% | 15.32% |
LZFIX Lazard Equity Franchise Portfolio | 19.99% | 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 HDCTX have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LZFIX has higher volatility (7.38%) compared to HDCTX (2.41%). In terms of maximum drawdown, LZFIX dropped -41.91% vs HDCTX's -59.05%.
HDCTX currently has the higher Sharpe Ratio (1.35 vs -0.06), 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.
Find the right allocation for LZFIX and HDCTX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer