LZFIX vs. TOWFX
LZFIX (Lazard Equity Franchise Portfolio) and TOWFX (Towpath Focus Fund) are both Large Cap Value Equities funds. Over the past 5 years, LZFIX returned 4.56%/yr vs 12.99%/yr for TOWFX. Their 0.78 correlation means they have sometimes moved together and sometimes differently. LZFIX charges 0.99%/yr vs 1.11%/yr for TOWFX.
Performance
LZFIX vs. TOWFX - Performance Comparison
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Returns By Period
In the year-to-date period, LZFIX achieves a 4.44% return, which is significantly lower than TOWFX's 14.50% 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%
TOWFX
- 1D
- 0.74%
- 1M
- 4.26%
- 6M
- 9.55%
- YTD
- 14.50%
- 1Y
- 29.83%
- 3Y*
- 19.19%
- 5Y*
- 12.99%
- 10Y*
- —
- ALL TIME*
- 16.04%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
TOWFX Towpath Focus Fund | $0.00 | $0.00 | $0.00 |
LZFIX vs. TOWFX - 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% | 0.49% |
TOWFX Towpath Focus Fund | 14.50% | 23.51% | 13.22% | 12.33% | -2.06% | 26.52% | 19.46% | 0.00% |
Correlation
The correlation between LZFIX and TOWFX is 0.55, 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. | 0.55 |
Correlation (3Y) Balances recent behavior with more history. | 0.64 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.75 |
Correlation (All Time) Calculated using the full available price history since Dec 31, 2019 | 0.78 |
Over the past year, the correlation between LZFIX and TOWFX has dropped to 0.55 - well below their long-term average of 0.78, suggesting their price drivers have been diverging.
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Return for Risk
LZFIX vs. TOWFX — Risk / Return Rank
LZFIX
TOWFX
LZFIX vs. TOWFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Lazard Equity Franchise Portfolio (LZFIX) and Towpath Focus Fund (TOWFX). 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 | TOWFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.17 | ||
| Sortino ratioReturn per unit of downside risk | -4.62 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.56 | -0.56 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 6.21 | -6.26 |
| Martin ratioReturn relative to average drawdown | -0.08 | 23.52 | -23.60 |
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Drawdowns
LZFIX vs. TOWFX - Drawdown Comparison
The maximum LZFIX drawdown since its inception was -41.91%, smaller than the maximum TOWFX drawdown of -96.18%. Use the drawdown chart below to compare losses from any high point for LZFIX and TOWFX.
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Drawdown Indicators
| LZFIX | TOWFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.91% | -96.18% | +54.27% |
Max Drawdown (1Y)Largest decline over 1 year | -19.87% | -4.72% | -15.15% |
Max Drawdown (3Y)Largest decline over 3 years | -21.51% | -96.18% | +74.67% |
Max Drawdown (5Y)Largest decline over 5 years | -21.69% | -96.18% | +74.49% |
Current DrawdownCurrent decline from peak | -8.06% | -94.34% | +86.28% |
Average DrawdownAverage peak-to-trough decline | -7.15% | -24.78% | +17.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.65% | 1.24% | +10.41% |
Volatility
LZFIX vs. TOWFX - Volatility Comparison
Lazard Equity Franchise Portfolio (LZFIX) has a higher volatility of 7.38% compared to Towpath Focus Fund (TOWFX) at 3.28%. This indicates that LZFIX's price experiences larger fluctuations and is considered to be riskier than TOWFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LZFIX | TOWFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.38% | 3.28% | +4.10% |
Volatility (6M)Calculated over the trailing 6-month period | 13.19% | 7.30% | +5.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.52% | 9.45% | +7.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.09% | 1,041.55% | -1,023.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.12% | 908.54% | -887.42% |
LZFIX vs. TOWFX - Expense Ratio Comparison
LZFIX has a 0.99% expense ratio, which is lower than TOWFX's 1.11% expense ratio.
Dividends
LZFIX vs. TOWFX - Dividend Comparison
LZFIX's dividend yield for the trailing twelve months is around 19.99%, more than TOWFX's 1.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
LZFIX Lazard Equity Franchise Portfolio | 19.99% | 20.87% | 14.95% | 8.68% | 12.81% | 15.59% | 1.12% | 5.78% |
TOWFX Towpath Focus Fund | 1.59% | 1.82% | 1.49% | 2.81% | 2.05% | 5.69% | 5.94% | 0.00% |
Frequently Asked Questions
LZFIX and TOWFX have a correlation of 0.55, 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 TOWFX (3.28%). In terms of maximum drawdown, LZFIX dropped -41.91% vs TOWFX's -96.18%.
TOWFX currently has the higher Sharpe Ratio (3.11 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.
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