Lazard Asset Management, a subsidiary of Lazard (LAZ), launched its first three actively managed fixed income exchange-traded funds.
The funds began trading on NYSE Arca: HYB targets US high yield bonds, HYFY focuses on financial institutions' hybrid securities combining debt and equity features, and XDLR invests in non-dollar bonds, primarily emerging market local currency bonds. HYB converted from the Lazard US High Yield Portfolio, a mutual fund launched in 1995, and is expected to adopt its performance history. Each fund allocates at least 80% of assets, or net assets for HYFY, to its specified investment category.
The launch brings Lazard's US actively managed ETF platform to 10 products. Platform assets under management have grown to over $2 billion since its April 2025 debut.