LGI vs SPY
Lazard Global Total Return and Income Fund vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | LGI | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.72% | 0.09% | |
| AUM | - | $821.1B | |
| Dividend Yield | 9.83% | 1.01% | |
| Holdings | 108 | 505 | |
| YTD Return | +13.41% | +13.47% | |
| 1Y Return | +15.35% | +20.57% | |
| 3Y Return (annualized) | +18.61% | +21.83% | |
| 5Y Return (annualized) | +6.58% | +12.88% | |
| Volatility (annualized) | 19.5% | 15.3% | |
| Max Drawdown | -67.2% | -56.5% | |
| Fund Family | Lazard Asset Management | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Apr 28, 2004 | Jan 22, 1993 |
LGI vs SPY Performance
Lazard Global Total Return and Income Fund (LGI) is a ETF from Lazard Asset Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year LGI returned +15.35% while SPY returned +20.57%. Year to date, LGI is up 13.41% versus a gain of 13.47% for SPY.
Over three years, LGI compounded at +18.61% per year against +21.83% for SPY; over five years the annualized figures are +6.58% and +12.88% respectively. Across the full 22-year window we track, SPY has the edge at +8.83% annualized vs +1.99%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
LGI has been the more volatile fund, with annualized monthly volatility of 19.5% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -67.2% for LGI and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.85. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
LGI charges 1.72% per year while SPY charges 0.09%. On a $10,000 position that is $172 vs $9 annually, a gap of $163 per year that compounds over a long holding period. On income, LGI currently yields 9.83% against 1.01% for SPY.
Holdings Overlap
LGI and SPY share 28 holdings out of 544 unique holdings combined, representing a 18.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, LGI or SPY?
LGI has an expense ratio of 1.72% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $163 per year of difference.
Which performed better, LGI or SPY?
Over the past year LGI returned +15.35% vs +20.57% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (22 years), LGI annualized +1.99% vs +8.83% for SPY. Past performance does not guarantee future results.
Which is riskier, LGI or SPY?
LGI has been the more volatile fund at 19.5% annualized versus 15.3% for SPY. Worst drawdown: LGI -67.2% vs SPY -56.5%.
Should I hold both LGI and SPY?
LGI and SPY have a monthly-return correlation of 0.85, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between LGI and SPY?
LGI and SPY share 28 common holdings with a 18.9% weight overlap. Combined, they hold 544 unique securities.
Which pays a higher dividend, LGI or SPY?
LGI yields 9.83% while SPY yields 1.01%, so LGI currently pays the higher dividend yield.
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