PCEMX vs. LZEMX
Compare and contrast key facts about PACE International Emerging Markets Equity Investments (PCEMX) and Lazard Emerging Markets Equity Portfolio (LZEMX).
PCEMX is managed by UBS. It was launched on Aug 23, 1995. LZEMX is managed by Lazard. It was launched on Jul 14, 1994.
Performance
PCEMX vs. LZEMX - Performance Comparison
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PCEMX vs. LZEMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PCEMX PACE International Emerging Markets Equity Investments | 0.24% | 36.75% | 4.15% | 10.33% | -18.97% | -1.79% | 20.13% | 19.01% | -16.42% | 34.14% |
LZEMX Lazard Emerging Markets Equity Portfolio | 5.00% | 41.35% | 7.60% | 22.44% | -14.86% | 5.37% | -0.07% | 18.06% | -18.11% | 28.02% |
Returns By Period
In the year-to-date period, PCEMX achieves a 0.24% return, which is significantly lower than LZEMX's 5.00% return. Over the past 10 years, PCEMX has underperformed LZEMX with an annualized return of 7.49%, while LZEMX has yielded a comparatively higher 9.23% annualized return.
PCEMX
- 1D
- -0.99%
- 1M
- -14.42%
- YTD
- 0.24%
- 6M
- 4.50%
- 1Y
- 32.08%
- 3Y*
- 14.19%
- 5Y*
- 3.97%
- 10Y*
- 7.49%
LZEMX
- 1D
- -0.53%
- 1M
- -9.45%
- YTD
- 5.00%
- 6M
- 15.58%
- 1Y
- 39.76%
- 3Y*
- 21.92%
- 5Y*
- 10.81%
- 10Y*
- 9.23%
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PCEMX vs. LZEMX - Expense Ratio Comparison
PCEMX has a 1.20% expense ratio, which is higher than LZEMX's 1.06% expense ratio.
Return for Risk
PCEMX vs. LZEMX — Risk / Return Rank
PCEMX
LZEMX
PCEMX vs. LZEMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PACE International Emerging Markets Equity Investments (PCEMX) and Lazard Emerging Markets Equity Portfolio (LZEMX). 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.
| PCEMX | LZEMX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.82 | 2.74 | -0.92 |
Sortino ratioReturn per unit of downside risk | 2.31 | 3.49 | -1.18 |
Omega ratioGain probability vs. loss probability | 1.36 | 1.53 | -0.17 |
Calmar ratioReturn relative to maximum drawdown | 2.34 | 3.47 | -1.14 |
Martin ratioReturn relative to average drawdown | 8.95 | 13.04 | -4.09 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PCEMX | LZEMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.82 | 2.74 | -0.92 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.24 | 0.77 | -0.53 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | 0.57 | -0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.38 | -0.15 |
Correlation
The correlation between PCEMX and LZEMX is 0.89, 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
PCEMX vs. LZEMX - Dividend Comparison
PCEMX's dividend yield for the trailing twelve months is around 4.89%, more than LZEMX's 1.95% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PCEMX PACE International Emerging Markets Equity Investments | 4.89% | 4.91% | 1.22% | 1.44% | 2.52% | 11.70% | 1.10% | 1.04% | 1.84% | 1.16% | 1.09% | 1.09% |
LZEMX Lazard Emerging Markets Equity Portfolio | 1.95% | 2.05% | 3.11% | 3.76% | 5.92% | 4.89% | 2.11% | 2.45% | 2.10% | 1.99% | 1.48% | 2.14% |
Drawdowns
PCEMX vs. LZEMX - Drawdown Comparison
The maximum PCEMX drawdown since its inception was -65.32%, which is greater than LZEMX's maximum drawdown of -60.08%. Use the drawdown chart below to compare losses from any high point for PCEMX and LZEMX.
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Drawdown Indicators
| PCEMX | LZEMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.32% | -60.08% | -5.24% |
Max Drawdown (1Y)Largest decline over 1 year | -14.42% | -10.61% | -3.81% |
Max Drawdown (5Y)Largest decline over 5 years | -36.66% | -30.55% | -6.11% |
Max Drawdown (10Y)Largest decline over 10 years | -39.17% | -44.08% | +4.91% |
Current DrawdownCurrent decline from peak | -14.42% | -10.42% | -4.00% |
Average DrawdownAverage peak-to-trough decline | -20.98% | -16.71% | -4.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.82% | 2.83% | +0.99% |
Volatility
PCEMX vs. LZEMX - Volatility Comparison
PACE International Emerging Markets Equity Investments (PCEMX) has a higher volatility of 8.92% compared to Lazard Emerging Markets Equity Portfolio (LZEMX) at 5.92%. This indicates that PCEMX's price experiences larger fluctuations and is considered to be riskier than LZEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PCEMX | LZEMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.92% | 5.92% | +3.00% |
Volatility (6M)Calculated over the trailing 6-month period | 13.34% | 9.63% | +3.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.15% | 14.26% | +3.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.07% | 14.09% | +2.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.29% | 16.33% | +0.96% |