LZFIX vs. VALAX
LZFIX (Lazard Equity Franchise Portfolio) and VALAX (Al Frank Fund) are both Large Cap Value Equities funds. Over the past 5 years, LZFIX returned 4.56%/yr vs 11.83%/yr for VALAX. Their 0.75 correlation means they have sometimes moved together and sometimes differently. LZFIX charges 0.99%/yr vs 1.24%/yr for VALAX.
Performance
LZFIX vs. VALAX - 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 VALAX's 21.25% 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%
VALAX
- 1D
- 0.45%
- 1M
- -0.62%
- 6M
- 12.15%
- YTD
- 21.25%
- 1Y
- 42.25%
- 3Y*
- 20.70%
- 5Y*
- 11.83%
- 10Y*
- 13.92%
- ALL TIME*
- 8.90%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
VALAX Al Frank Fund | $0.00 | $0.00 | $0.00 |
LZFIX vs. VALAX - 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% |
VALAX Al Frank Fund | 21.25% | 23.57% | 13.35% | 14.05% | -13.50% | 24.97% | 10.22% | 22.91% |
Correlation
The correlation between LZFIX and VALAX is 0.22, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.22 |
Correlation (3Y) Balances recent behavior with more history. | 0.53 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.69 |
Correlation (All Time) Calculated using the full available price history since May 14, 2019 | 0.75 |
Over the past year, the correlation between LZFIX and VALAX has dropped to 0.22 - well below their long-term average of 0.75, suggesting their price drivers have been diverging.
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Return for Risk
LZFIX vs. VALAX — Risk / Return Rank
LZFIX
VALAX
LZFIX vs. VALAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Lazard Equity Franchise Portfolio (LZFIX) and Al Frank Fund (VALAX). 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 | VALAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.75 | ||
| Sortino ratioReturn per unit of downside risk | -3.62 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.47 | -0.46 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 4.71 | -4.76 |
| Martin ratioReturn relative to average drawdown | -0.08 | 17.04 | -17.12 |
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Drawdowns
LZFIX vs. VALAX - Drawdown Comparison
The maximum LZFIX drawdown since its inception was -41.91%, smaller than the maximum VALAX drawdown of -61.26%. Use the drawdown chart below to compare losses from any high point for LZFIX and VALAX.
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Drawdown Indicators
| LZFIX | VALAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.91% | -61.26% | +19.35% |
Max Drawdown (1Y)Largest decline over 1 year | -19.87% | -8.56% | -11.31% |
Max Drawdown (3Y)Largest decline over 3 years | -21.51% | -25.81% | +4.30% |
Max Drawdown (5Y)Largest decline over 5 years | -21.69% | -25.81% | +4.12% |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.22% | — |
Current DrawdownCurrent decline from peak | -8.06% | -3.28% | -4.78% |
Average DrawdownAverage peak-to-trough decline | -7.15% | -10.68% | +3.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.65% | 2.37% | +9.28% |
Volatility
LZFIX vs. VALAX - Volatility Comparison
Lazard Equity Franchise Portfolio (LZFIX) has a higher volatility of 7.38% compared to Al Frank Fund (VALAX) at 4.32%. This indicates that LZFIX's price experiences larger fluctuations and is considered to be riskier than VALAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LZFIX | VALAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.38% | 4.32% | +3.06% |
Volatility (6M)Calculated over the trailing 6-month period | 13.19% | 12.02% | +1.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.52% | 15.02% | +1.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.09% | 17.90% | +0.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.12% | 19.33% | +1.79% |
LZFIX vs. VALAX - Expense Ratio Comparison
LZFIX has a 0.99% expense ratio, which is lower than VALAX's 1.24% expense ratio.
Dividends
LZFIX vs. VALAX - Dividend Comparison
LZFIX's dividend yield for the trailing twelve months is around 19.99%, more than VALAX's 7.14% 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% |
VALAX Al Frank Fund | 7.14% | 8.65% | 10.32% | 5.95% | 8.62% | 6.83% | 7.17% | 13.51% | 10.73% | 10.66% | 5.32% | 9.53% |
Frequently Asked Questions
LZFIX and VALAX have a correlation of 0.22, 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 VALAX (4.32%). In terms of maximum drawdown, LZFIX dropped -41.91% vs VALAX's -61.26%.
VALAX currently has the higher Sharpe Ratio (2.69 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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