LZHYX vs. GLIFX

Last updated Jun 5, 2026

LZHYX (Lazard US Corporate Income Portfolio) and GLIFX (Lazard Global Listed Infrastructure Portfolio Institutional Shares) are both mutual funds - LZHYX is a High Yield Bonds fund managed by Lazard, while GLIFX is a Global Equities fund managed by Lazard. Over the past 10 years, LZHYX returned 4.36%/yr vs 10.21%/yr for GLIFX. At a 0.34 correlation, their price movements are largely independent. LZHYX charges 0.70%/yr vs 0.97%/yr for GLIFX.

Performance

LZHYX vs. GLIFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Lazard US Corporate Income Portfolio (LZHYX) and Lazard Global Listed Infrastructure Portfolio Institutional Shares (GLIFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LZHYX achieves a 1.38% return, which is significantly lower than GLIFX's 7.16% return. Over the past 10 years, LZHYX has underperformed GLIFX with an annualized return of 4.36%, while GLIFX has yielded a comparatively higher 10.21% annualized return.

LZHYX

• 1D: -0.16%
• 1M: 0.17%
• YTD: 1.38%
• 6M: 2.01%
• 1Y: 7.55%
• 3Y*: 7.86%
• 5Y*: 3.50%
• 10Y*: 4.36%

GLIFX

• 1D: -0.15%
• 1M: -2.42%
• YTD: 7.16%
• 6M: 7.57%
• 1Y: 15.86%
• 3Y*: 13.85%
• 5Y*: 11.21%
• 10Y*: 10.21%

*Multi-year figures are annualized to reflect compound growth (CAGR)

LZHYX vs. GLIFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LZHYX Lazard US Corporate Income Portfolio	1.38%	10.49%	5.34%	10.22%	-10.18%	2.53%	4.88%	13.36%	-2.71%	5.39%
GLIFX Lazard Global Listed Infrastructure Portfolio Institutional Shares	7.16%	23.85%	6.71%	10.89%	-1.33%	19.91%	-4.51%	22.27%	-3.82%	20.77%

Correlation

The correlation between LZHYX and GLIFX is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (10Y) Calculated over the trailing 10-year period	0.36
Correlation (All Time) Calculated using the full available price history since Jan 5, 2010	0.34

The correlation between LZHYX and GLIFX shifts across timeframes, from 0.26 (1 year) to 0.39 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

LZHYX vs. GLIFX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

LZHYX

LZHYX Risk / Return Rank: 84
LZHYX Sharpe Ratio Rank: 79
LZHYX Sortino Ratio Rank: 92
LZHYX Omega Ratio Rank: 85
LZHYX Calmar Ratio Rank: 77
LZHYX Martin Ratio Rank: 88

GLIFX

GLIFX Risk / Return Rank: 23
GLIFX Sharpe Ratio Rank: 25
GLIFX Sortino Ratio Rank: 21
GLIFX Omega Ratio Rank: 26
GLIFX Calmar Ratio Rank: 22
GLIFX Martin Ratio Rank: 23

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

LZHYX vs. GLIFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lazard US Corporate Income Portfolio (LZHYX) and Lazard Global Listed Infrastructure Portfolio Institutional Shares (GLIFX). 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.

	LZHYX	GLIFX	Difference
Sharpe ratio: Return per unit of total volatility	2.55	1.43	+1.12
Sortino ratio: Return per unit of downside risk	4.54	1.95	+2.60
Omega ratio: Gain probability vs. loss probability	1.58	1.27	+0.31
Calmar ratio: Return relative to maximum drawdown	3.37	1.70	+1.66
Martin ratio: Return relative to average drawdown	16.40	5.71	+10.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LZHYX vs. GLIFX - Sharpe Ratio Comparison

The current LZHYX Sharpe Ratio is 2.55, which is higher than the GLIFX Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of LZHYX and GLIFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	LZHYX	GLIFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.55	1.43	+1.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	1.03	-0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.86	0.77	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	0.84	+0.01

Drawdowns

LZHYX vs. GLIFX - Drawdown Comparison

The maximum LZHYX drawdown since its inception was -32.30%, which is greater than GLIFX's maximum drawdown of -29.65%. Use the drawdown chart below to compare losses from any high point for LZHYX and GLIFX.

Drawdown Indicators

	LZHYX	GLIFX	Difference
Max Drawdown Largest peak-to-trough decline	-32.30%	-29.65%	-2.65%
Max Drawdown (1Y) Largest decline over 1 year	-2.28%	-9.00%	+6.72%
Max Drawdown (3Y) Largest decline over 3 years	-4.00%	-10.02%	+6.02%
Max Drawdown (5Y) Largest decline over 5 years	-14.43%	-17.15%	+2.72%
Max Drawdown (10Y) Largest decline over 10 years	-17.80%	-29.65%	+11.85%
Current Drawdown Current decline from peak	-0.21%	-5.93%	+5.72%
Average Drawdown Average peak-to-trough decline	-4.29%	-3.36%	-0.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.47%	2.68%	-2.21%

Volatility

LZHYX vs. GLIFX - Volatility Comparison

The current volatility for Lazard US Corporate Income Portfolio (LZHYX) is 0.92%, while Lazard Global Listed Infrastructure Portfolio Institutional Shares (GLIFX) has a volatility of 4.46%. This indicates that LZHYX experiences smaller price fluctuations and is considered to be less risky than GLIFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LZHYX	GLIFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.92%	4.46%	-3.54%
Volatility (6M) Calculated over the trailing 6-month period	2.29%	9.27%	-6.98%
Volatility (1Y) Calculated over the trailing 1-year period	3.03%	10.72%	-7.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.93%	10.99%	-6.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.09%	13.32%	-8.23%

LZHYX vs. GLIFX - Expense Ratio Comparison

LZHYX has a 0.70% expense ratio, which is lower than GLIFX's 0.97% expense ratio.

Dividends

LZHYX vs. GLIFX - Dividend Comparison

LZHYX's dividend yield for the trailing twelve months is around 5.14%, less than GLIFX's 6.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GLIFX Lazard Global Listed Infrastructure Portfolio Institutional Shares	6.30%	6.22%	4.26%	2.95%	14.81%	6.21%	2.59%	4.44%	14.29%	6.94%	1.91%	11.33%
LZHYX Lazard US Corporate Income Portfolio	5.14%	5.49%	5.07%	3.87%	4.19%	3.37%	3.98%	4.42%	4.85%	4.84%	4.70%	5.20%

Frequently Asked Questions

Can I hold both LZHYX and GLIFX in my portfolio?

LZHYX and GLIFX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LZHYX or GLIFX?

GLIFX has higher volatility (4.46%) compared to LZHYX (0.92%). In terms of maximum drawdown, LZHYX dropped -32.30% vs GLIFX's -29.65%.

Which has better risk-adjusted returns?

LZHYX currently has the higher Sharpe Ratio (2.55 vs 1.43), 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.