LZFIX vs. TMMAX
LZFIX (Lazard Equity Franchise Portfolio) and TMMAX (SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund) are both mutual funds - LZFIX is a Large Cap Value Equities fund managed by Lazard, while TMMAX is a Low Volatility fund managed by BlackRock. Over the past 5 years, LZFIX returned 4.56%/yr vs 9.80%/yr for TMMAX. Their 0.72 correlation means they have sometimes moved together and sometimes differently. LZFIX charges 0.99%/yr vs 1.00%/yr for TMMAX.
Performance
LZFIX vs. TMMAX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, LZFIX achieves a 4.44% return, which is significantly lower than TMMAX's 8.47% 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%
TMMAX
- 1D
- 0.12%
- 1M
- 2.13%
- 6M
- 5.05%
- YTD
- 8.47%
- 1Y
- 13.92%
- 3Y*
- 13.16%
- 5Y*
- 9.80%
- 10Y*
- 10.01%
- ALL TIME*
- 9.47%
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. TMMAX - 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% |
TMMAX SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund | 8.47% | 11.03% | 17.07% | 7.32% | -3.11% | 24.10% | 1.32% | 12.75% |
Correlation
The correlation between LZFIX and TMMAX is 0.70, 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. | 0.70 |
Correlation (3Y) Balances recent behavior with more history. | 0.66 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.70 |
Correlation (All Time) Calculated using the full available price history since May 14, 2019 | 0.72 |
The correlation between LZFIX and TMMAX has been stable across timeframes, ranging from 0.66 to 0.72 - a consistent structural relationship.
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. TMMAX — Risk / Return Rank
LZFIX
TMMAX
LZFIX vs. TMMAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Lazard Equity Franchise Portfolio (LZFIX) and SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund (TMMAX). 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 | TMMAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.57 | ||
| Sortino ratioReturn per unit of downside risk | -2.26 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.27 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 2.34 | -2.39 |
| Martin ratioReturn relative to average drawdown | -0.08 | 7.97 | -8.05 |
Loading charts...
Drawdowns
LZFIX vs. TMMAX - Drawdown Comparison
The maximum LZFIX drawdown since its inception was -41.91%, roughly equal to the maximum TMMAX drawdown of -41.50%. Use the drawdown chart below to compare losses from any high point for LZFIX and TMMAX.
Loading charts...
Drawdown Indicators
| LZFIX | TMMAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.91% | -41.50% | -0.41% |
Max Drawdown (1Y)Largest decline over 1 year | -19.87% | -5.78% | -14.09% |
Max Drawdown (3Y)Largest decline over 3 years | -21.51% | -23.00% | +1.49% |
Max Drawdown (5Y)Largest decline over 5 years | -21.69% | -23.00% | +1.31% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.41% | — |
Current DrawdownCurrent decline from peak | -8.06% | -3.26% | -4.80% |
Average DrawdownAverage peak-to-trough decline | -7.15% | -5.57% | -1.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.65% | 1.70% | +9.95% |
Volatility
LZFIX vs. TMMAX - Volatility Comparison
Lazard Equity Franchise Portfolio (LZFIX) has a higher volatility of 7.38% compared to SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund (TMMAX) at 3.95%. This indicates that LZFIX's price experiences larger fluctuations and is considered to be riskier than TMMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| LZFIX | TMMAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.38% | 3.95% | +3.43% |
Volatility (6M)Calculated over the trailing 6-month period | 13.19% | 7.18% | +6.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.52% | 8.93% | +7.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.09% | 19.12% | -1.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.12% | 17.83% | +3.29% |
LZFIX vs. TMMAX - Expense Ratio Comparison
LZFIX has a 0.99% expense ratio, which is lower than TMMAX's 1.00% expense ratio.
Dividends
LZFIX vs. TMMAX - Dividend Comparison
LZFIX's dividend yield for the trailing twelve months is around 19.99%, less than TMMAX's 23.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
TMMAX SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund | 23.24% | 25.19% | 23.39% | 15.23% | 6.54% | 4.73% | 2.15% | 3.67% | 4.91% | 4.10% | 4.17% | 5.57% |
Frequently Asked Questions
LZFIX and TMMAX have a correlation of 0.70, 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 TMMAX (3.95%). In terms of maximum drawdown, LZFIX dropped -41.91% vs TMMAX's -41.50%.
TMMAX currently has the higher Sharpe Ratio (1.52 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 TMMAX
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