UMNIX vs. TRBUX

Last updated Jul 14, 2026

UMNIX (Lazard US Short Duration Fixed Income Portfolio) and TRBUX (T. Rowe Price Ultra Short-Term Bond Fund) are both Ultrashort Bond funds. At a 0.33 correlation, their price movements are largely independent. UMNIX charges 0.40%/yr vs 0.31%/yr for TRBUX.

Performance

UMNIX vs. TRBUX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Lazard US Short Duration Fixed Income Portfolio (UMNIX) and T. Rowe Price Ultra Short-Term Bond Fund (TRBUX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

UMNIX

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TRBUX

• 1D: 0.00%
• 1M: 0.17%
• 6M: 2.12%
• YTD: 2.12%
• 1Y: 4.94%
• 3Y*: 8.34%
• 5Y*: 5.61%
• 10Y*: 3.92%

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

UMNIX vs. TRBUX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UMNIX Lazard US Short Duration Fixed Income Portfolio	0.22%	5.02%	3.88%	3.53%	-2.72%	-0.44%	2.47%	3.26%	1.09%	0.82%
TRBUX T. Rowe Price Ultra Short-Term Bond Fund	2.12%	6.49%	11.12%	10.12%	-1.28%	0.22%	3.11%	3.60%	1.88%	1.83%

Correlation

The correlation between UMNIX and TRBUX is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (10Y) Calculated over the trailing 10-year period	0.34
Correlation (All Time) Calculated using the full available price history since Oct 3, 2013	0.33

Over the past year, the correlation between UMNIX and TRBUX has dropped to 0.12 - well below their long-term average of 0.33, suggesting their price drivers have been diverging.

Return for Risk

UMNIX vs. TRBUX — Risk / Return Rank

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

UMNIX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

TRBUX

TRBUX Risk / Return Rank: 99
TRBUX Sharpe Ratio Rank: 97
TRBUX Sortino Ratio Rank: 98
TRBUX Omega Ratio Rank: 99
TRBUX Calmar Ratio Rank: 99
TRBUX Martin Ratio Rank: 99

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.

UMNIX vs. TRBUX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lazard US Short Duration Fixed Income Portfolio (UMNIX) and T. Rowe Price Ultra Short-Term Bond Fund (TRBUX). 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.

	UMNIX	TRBUX	Difference
Sharpe ratio: Return per unit of total volatility	—	3.01	—
Sortino ratio: Return per unit of downside risk	—	6.93	—
Omega ratio: Gain probability vs. loss probability	—	2.89	—
Calmar ratio: Return relative to maximum drawdown	—	12.99	—
Martin ratio: Return relative to average drawdown	—	48.07	—

Drawdowns

Drawdown Indicators

	UMNIX	TRBUX	Difference
Max Drawdown Largest peak-to-trough decline	—	-4.15%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-0.39%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.78%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-2.66%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-4.15%	—
Current Drawdown Current decline from peak	—	-0.20%	—
Average Drawdown Average peak-to-trough decline	—	-0.21%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.10%	—

Volatility

Volatility by Period

	UMNIX	TRBUX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.58%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.28%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	1.70%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	1.81%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	1.58%	—

UMNIX vs. TRBUX - Expense Ratio Comparison

UMNIX has a 0.40% expense ratio, which is higher than TRBUX's 0.31% expense ratio.

Dividends

UMNIX vs. TRBUX - Dividend Comparison

UMNIX's dividend yield for the trailing twelve months is around 2.65%, less than TRBUX's 4.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TRBUX T. Rowe Price Ultra Short-Term Bond Fund	4.82%	5.86%	9.30%	7.34%	1.53%	1.21%	1.86%	2.73%	2.47%	1.62%	1.18%	0.81%
UMNIX Lazard US Short Duration Fixed Income Portfolio	2.65%	3.94%	3.48%	2.70%	1.30%	0.16%	1.22%	2.48%	2.00%	1.53%	1.30%	1.06%

Frequently Asked Questions

Can I hold both UMNIX and TRBUX in my portfolio?

UMNIX and TRBUX have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.