LZM vs. VOO

Last updated Aug 1, 2026

LZM (Lifezone Metals Limited) is a stock, while VOO (Vanguard S&P 500 ETF) is S&P 500 fund tracking the S&P 500 Index. Over the past 3 years, LZM returned -33.44%/yr vs 19.42%/yr for VOO. Their 0.24 correlation means their historical movements had little consistent relationship.

Performance

LZM vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Lifezone Metals Limited (LZM) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LZM achieves a -20.61% return, which is significantly lower than VOO's 10.16% return.

LZM

• 1D: 2.73%
• 1M: -9.12%
• 6M: -35.92%
• YTD: -20.61%
• 1Y: -19.09%
• 3Y*: -33.44%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -33.55%

VOO

• 1D: 0.71%
• 1M: 0.26%
• 6M: 8.58%
• YTD: 10.16%
• 1Y: 21.58%
• 3Y*: 19.42%
• 5Y*: 12.83%
• 10Y*: 15.14%
• ALL TIME*: 14.78%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
LZM Lifezone Metals Limited	$1.34M	$1.57M	$2.63M
VOO Vanguard S&P 500 ETF	$3.82B	$3.78B	$5.44B

LZM vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
LZM Lifezone Metals Limited	-20.61%	-38.56%	-23.12%	-24.03%
VOO Vanguard S&P 500 ETF	10.16%	17.82%	24.98%	7.89%

Correlation

The correlation between LZM and VOO is 0.40, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.40
Correlation (3Y) Balances recent behavior with more history.	0.25
Correlation (All Time) Calculated using the full available price history since Jul 5, 2023	0.24

The correlation between LZM and VOO shifts across timeframes, from 0.24 (all time) to 0.40 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

LZM vs. VOO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

LZM

LZM Risk / Return Rank: 31
LZM Sharpe Ratio Rank: 31
LZM Sortino Ratio Rank: 34
LZM Omega Ratio Rank: 34
LZM Calmar Ratio Rank: 28
LZM Martin Ratio Rank: 26

VOO

VOO Risk / Return Rank: 68
VOO Sharpe Ratio Rank: 68
VOO Sortino Ratio Rank: 65
VOO Omega Ratio Rank: 66
VOO Calmar Ratio Rank: 64
VOO Martin Ratio Rank: 76

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

LZM vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lifezone Metals Limited (LZM) and Vanguard S&P 500 ETF (VOO). 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.

	LZM	VOO	Difference
Sharpe ratio: Return per unit of total volatility	-0.30	1.53	-1.83
Sortino ratio: Return per unit of downside risk	0.06	2.13	-2.08
Omega ratio: Gain probability vs. loss probability	1.01	1.28	-0.27
Calmar ratio: Return relative to maximum drawdown	-0.46	2.21	-2.67
Martin ratio: Return relative to average drawdown	-0.85	9.44	-10.29

LZM vs. VOO - Sharpe Ratio Comparison

The current LZM Sharpe Ratio is -0.30, which is lower than the VOO Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of LZM and VOO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

LZM vs. VOO - Drawdown Comparison

The maximum LZM drawdown since its inception was -82.11%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for LZM and VOO.

Drawdown Indicators

	LZM	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-82.11%	-33.99%	-48.12%
Max Drawdown (1Y) Largest decline over 1 year	-50.66%	-8.90%	-41.76%
Max Drawdown (3Y) Largest decline over 3 years	-82.00%	-18.69%	-63.31%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.52%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.99%	—
Current Drawdown Current decline from peak	-79.58%	-1.38%	-78.20%
Average Drawdown Average peak-to-trough decline	-61.32%	-3.67%	-57.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.13%	2.08%	+25.05%

Volatility

LZM vs. VOO - Volatility Comparison

Lifezone Metals Limited (LZM) has a higher volatility of 21.44% compared to Vanguard S&P 500 ETF (VOO) at 3.54%. This indicates that LZM's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LZM	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.44%	3.54%	+17.90%
Volatility (6M) Calculated over the trailing 6-month period	64.53%	10.10%	+54.43%
Volatility (1Y) Calculated over the trailing 1-year period	77.40%	12.82%	+64.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	83.00%	16.93%	+66.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	83.00%	18.01%	+64.99%

Dividends

LZM vs. VOO - Dividend Comparison

LZM has not paid dividends to shareholders, while VOO's dividend yield for the trailing twelve months is around 1.07%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LZM Lifezone Metals Limited	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VOO Vanguard S&P 500 ETF	1.07%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both LZM and VOO in my portfolio?

LZM and VOO have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LZM or VOO?

LZM has higher volatility (21.44%) compared to VOO (3.54%). In terms of maximum drawdown, LZM dropped -82.11% vs VOO's -33.99%.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (1.53 vs -0.30), 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.