LZHOX Fees and Costs — Lazard US High Yield Portfolio, Open Shares
Data updated: 2026-08-21
The net expense ratio is 0.80%: a 0.55% management fee, a 0.25% 12b-1 fee plus 0.33% other expenses, less a 0.33% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 14%.
LZHOX Fees and Expenses
Annual operating expenses and sales charges of LZHOX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.33% |
| Gross expense ratio | 1.13% |
| Fee waiver | −0.33% |
| Net expense ratio | 0.80% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
LZHOX Costs Over Time
On $10,000 invested in LZHOX, assuming 5% a year before costs, total costs come to $502 over 5 years, cutting the return by 0.84% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.80%) | $84 | $263 | $456 |
| Lost growth on money paid in costs | $0 | $13 | $46 |
| Total costs | $84 | $276 | $502 |
| Value after costs | $10,416 | $11,301 | $12,260 |
| Impact on return, per year | 0.84% | 0.84% | 0.84% |
LZHOX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $564.4M
- Portfolio turnover (prospectus): 14%
- Securities lending: none during the year
LZHOX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $534.2M | 95.04% |
| Morgan Stanley & Co. LLC | $5.5M | 0.97% |
| J.P. Morgan Securities LLC | $4.2M | 0.75% |
| Goldman Sachs & Co. LLC | $4.2M | 0.75% |
| MarketAxess Corporation | $4.0M | 0.72% |
| BofA Securities, Inc. | $3.5M | 0.63% |
| BNY Capital Markets, LLC | $2.0M | 0.36% |
| Jane Street Execution Services, LLC | $1.7M | 0.30% |
| Stifel, Nicolaus & Company, Incorporated | $1.6M | 0.28% |
| UBS Securities LLC | $1.1M | 0.20% |
Lazard US High Yield Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| LZHYX | Institutional Shares | 0.55% | — |
| RLCIX | R6 Shares | 0.55% | — |
| LZHOX | Open Shares | 0.80% | — |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.