LZUSX vs. TANDX

Last updated Apr 3, 2026

Compare and contrast key facts about Lazard US Equity Focus Portfolio (LZUSX) and Castle Tandem Fund (TANDX).

LZUSX is managed by Lazard. It was launched on Dec 30, 2004. TANDX is managed by Castle Investment Management. It was launched on Mar 15, 2019.

Performance

LZUSX vs. TANDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Lazard US Equity Focus Portfolio (LZUSX) and Castle Tandem Fund (TANDX). The values are adjusted to include any dividend payments, if applicable.

LZUSX vs. TANDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
LZUSX Lazard US Equity Focus Portfolio	-4.68%	15.23%	14.20%	19.79%	-16.97%	27.40%	17.28%	17.88%
TANDX Castle Tandem Fund	-8.80%	3.67%	7.66%	8.42%	-7.87%	19.03%	13.39%	12.57%

Returns By Period

In the year-to-date period, LZUSX achieves a -4.68% return, which is significantly higher than TANDX's -8.80% return.

LZUSX

• 1D: 0.57%
• 1M: -3.76%
• YTD: -4.68%
• 6M: -0.65%
• 1Y: 13.13%
• 3Y*: 12.83%
• 5Y*: 7.87%
• 10Y*: 11.79%

TANDX

• 1D: -0.25%
• 1M: -5.52%
• YTD: -8.80%
• 6M: -9.19%
• 1Y: -10.07%
• 3Y*: 2.60%
• 5Y*: 3.30%
• 10Y*: —

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

LZUSX vs. TANDX - Expense Ratio Comparison

LZUSX has a 0.70% expense ratio, which is lower than TANDX's 1.59% expense ratio.

TANDX

Castle Tandem Fund

LZUSX

Lazard US Equity Focus Portfolio

Return for Risk

LZUSX vs. TANDX — Risk / Return Rank

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

LZUSX

LZUSX Risk / Return Rank: 30
LZUSX Sharpe Ratio Rank: 26
LZUSX Sortino Ratio Rank: 29
LZUSX Omega Ratio Rank: 31
LZUSX Calmar Ratio Rank: 31
LZUSX Martin Ratio Rank: 36

TANDX

TANDX Risk / Return Rank: 0
TANDX Sharpe Ratio Rank: 0
TANDX Sortino Ratio Rank: 0
TANDX Omega Ratio Rank: 1
TANDX Calmar Ratio Rank: 0
TANDX Martin Ratio Rank: 0

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.

LZUSX vs. TANDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lazard US Equity Focus Portfolio (LZUSX) and Castle Tandem Fund (TANDX). 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.

	LZUSX	TANDX	Difference
Sharpe ratio Return per unit of total volatility	0.78	-0.83	+1.61
Sortino ratio Return per unit of downside risk	1.23	-1.09	+2.33
Omega ratio Gain probability vs. loss probability	1.18	0.86	+0.32
Calmar ratio Return relative to maximum drawdown	1.16	-0.76	+1.92
Martin ratio Return relative to average drawdown	4.72	-2.20	+6.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LZUSX vs. TANDX - Sharpe Ratio Comparison

The current LZUSX Sharpe Ratio is 0.78, which is higher than the TANDX Sharpe Ratio of -0.83. The chart below compares the historical Sharpe Ratios of LZUSX and TANDX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	LZUSX	TANDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.78	-0.83	+1.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	0.00	+0.48
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.01	+0.46

Correlation

The correlation between LZUSX and TANDX is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

LZUSX vs. TANDX - Dividend Comparison

LZUSX's dividend yield for the trailing twelve months is around 14.49%, more than TANDX's 6.77% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LZUSX Lazard US Equity Focus Portfolio	14.49%	13.81%	6.61%	1.09%	2.77%	5.78%	5.28%	11.94%	17.57%	10.34%	3.41%	7.83%
TANDX Castle Tandem Fund	6.77%	6.17%	3.71%	2.10%	1.48%	4.57%	0.33%	0.37%	0.00%	0.00%	0.00%	0.00%

Drawdowns

LZUSX vs. TANDX - Drawdown Comparison

The maximum LZUSX drawdown since its inception was -55.40%, smaller than the maximum TANDX drawdown of -95.17%. Use the drawdown chart below to compare losses from any high point for LZUSX and TANDX.

Drawdown Indicators

	LZUSX	TANDX	Difference
Max Drawdown Largest peak-to-trough decline	-55.40%	-95.17%	+39.77%
Max Drawdown (1Y) Largest decline over 1 year	-10.07%	-13.14%	+3.07%
Max Drawdown (5Y) Largest decline over 5 years	-23.05%	-95.17%	+72.12%
Max Drawdown (10Y) Largest decline over 10 years	-35.12%	—	—
Current Drawdown Current decline from peak	-7.03%	-95.11%	+88.08%
Average Drawdown Average peak-to-trough decline	-7.90%	-18.98%	+11.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.02%	4.56%	-1.54%

Volatility

LZUSX vs. TANDX - Volatility Comparison

Lazard US Equity Focus Portfolio (LZUSX) has a higher volatility of 4.54% compared to Castle Tandem Fund (TANDX) at 3.19%. This indicates that LZUSX's price experiences larger fluctuations and is considered to be riskier than TANDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LZUSX	TANDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.54%	3.19%	+1.35%
Volatility (6M) Calculated over the trailing 6-month period	8.88%	7.32%	+1.56%
Volatility (1Y) Calculated over the trailing 1-year period	18.10%	12.01%	+6.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.44%	1,010.25%	-993.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.69%	852.20%	-834.51%