HYFY — Lazard Hybrid Financial Income ETF

HYFY Fund Overview

HYFY — Lazard Hybrid Financial Income ETF is a US ETF managed by Lazard Active ETF Trust, categorised as Europe Value Financials Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US ETF
• Manager: Lazard Active ETF Trust
• Category: Europe Value Financials Equity
• Ticker: HYFY
• SEC CIK: 0002051630
• SEC series ID: S000108841
• Share class ID: C000279884

HYFY Investment Objective and Strategy

Lazard Hybrid Financial Income ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Lazard Active ETF Trust.

Investment objective

The Portfolio seeks maximum total return from a combination of capital appreciation and current income.

Principal investment strategy

Under normal circumstances, the Portfolio invests at least 80% of its net assets (plus any borrowings for investment purposes) in Hybrid Securities issued by companies in the financials sector. Hybrid Securities are instruments that exhibit both bond- and equity-like features, including, but not limited to, preferred securities, contingent convertible securities (“CoCos”), capital securities and subordinated debt. Hybrid Securities are often subordinated in a company’s capital structure and may have higher risk than senior or secured debt. Capital securities are instruments issued by banks, insurance companies, and other financial institutions that are designed to qualify as regulatory capital. They typically feature long-dated or perpetual maturities and subordination to an issuer’s senior debt, and interest or distribution payments may be discretionary or deferrable.

CoCos are hybrid instruments issued primarily by banks and other financial institutions as a form of loss-absorbing regulatory capital. Unlike conventional bonds, CoCos are structured to automatically convert into equity or have their principal written down, potentially to zero, upon the occurrence of a pre-specified "trigger" event. Common triggers include the issuer's regulatory capital ratio (e.g., Common Equity Tier 1 ratio) falling below a defined threshold, or a determination by the relevant regulator, at its discretion, that the issuer has reached a point of non-viability. This loss-absorption mechanism allows CoCos to strengthen an issuer's capital base in times of stress, which is why they are typically issued to satisfy Additional Tier 1 or Tier 2 regulatory capital requirements.

In exchange for bearing this conversion or write-down risk, CoCos generally offer higher yields than an issuer's senior or traditional subordinated debt. The Portfolio will invest in securities issued across the globe, with a focus of its investments in Europe and North America, although the allocation of the Portfo

HYFY Costs and Fees

HYFY costs about $60 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.60%
• Gross expense ratio: 0.60%

HYFY Debt Constituents

No individual debt constituents are reported in Lazard Hybrid Financial Income ETF's latest SEC N-PORT filing.

HYFY Prospectus and SEC Filings

Official Lazard Hybrid Financial Income ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2026-09-11

Related Funds

Related funds tracked on ABC INVEST:

• Lazard International Dynamic Equity ETF (IDEQ)
• Lazard Emerging Markets Opportunities ETF (EMKT)
• Lazard Japanese Equity ETF (JPY)
• Lazard US Systematic Small Cap Equity ETF (SYZ)
• Lazard Next Gen Technologies ETF (TEKY)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.