ETF Evaluator:
Lazard Japanese Equity ETF ()
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(as of Aug 26)
Best Performing in Japan Stock Over the Last Year
| 56.1% | WisdomTree Japan Opportunities ETF (OPPJ) |
| 48.3% | WisdomTree Japan Hedged Equity ETF (DXJ) |
| 44.1% | Xtrackers MSCI Japan Hedged Equity ETF (DBJP) |
| 43.6% | Franklin FTSE Japan Hedged ETF (FLJH) |
| 42.7% | iShares Currency Hedged MSCI Japan ETF (HEWJ) |
Risk
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Risk
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ETF Details
Lazard Japanese Equity ETF Overview
Lazard Japanese Equity ETF (JPY) is an actively managed International Equity Japan Stock exchange-traded fund (ETF). Lazard launched the ETF in 2025.
The investment seeks long-term capital appreciation.
Under normal circumstances, the portfolio invests at least 80% of its net assets (plus any borrowings for investment purposes) in equities and equity-related securities (i.e., shares, including common and preferred stock, warrants and rights) traded on markets in Japan. The investment manager seeks to invest in the equity and equity-related securities of companies operating in sectors which have been identified through research undertaken by the Investment Manager as showing greater potential for growth at any given point of the economic cycle. The fund is non-diversified.
About Lazard Japanese Equity ETF (JPY)
There are 3 members of the management team with an average tenure of 1.32 years: Matthew Bills (2025), June-Yon Kim (2025) and Scott Anderson (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
Lazard Japanese Equity ETF has 64 securities in its portfolio. The top 10 holdings constitute 35.7% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Lazard Japanese Equity ETF is part of the Equity global asset class and is within the International Equity ETF group. Lazard Japanese Equity ETF has 98.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 98.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Lazard Japanese Equity ETF has 1.4% of the portfolio in cash.
Assets Under Management
The fund has $82 million in total assets, which is below the $2 billion average for the Japan Stock category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
JPY Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Lazard Japanese Equity ETF expense ratio is above average compared to funds in the Japan Stock category. Lazard Japanese Equity ETF has an expense ratio of 0.60%, which is 19% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Lazard Japanese Equity ETF has a portfolio turnover rate of 8%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 35% for the Japan Stock category.
Recently, in the month of July 2026, Lazard Japanese Equity ETF returned 3.1%, which earned it a grade of A, as the Japan Stock category had an average return of 0.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Lazard Japanese Equity ETF has a trailing yield of 1.17%, which is below the 2.67% category average.
The fund normally distributes its income semi-annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Lazard Japanese Equity ETF Grades
Year to date, the ETF has returned 18.6%, 1.9 percentage points better than the category, which translates into a grade of C. The fund has returned 33.7% over the past year (grade of B).
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JPY Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| JPY Return (NAV) | 3.1% | 8.0% | 33.7% | na | na | na |
| JPY Return (Price) | 2.0% | 7.3% | 33.5% | na | na | na |
| NAV +/- Price Return | 1.174% | 0.727% | 0.214% | na | na | na |
| Japan Stock Avg | 0.3% | 4.6% | 33.2% | 21.7% | 15.1% | 11.8% |
| JPY Grade (NAV) | A | A | B | na | na | na |
| +/- Category (NAV) | 2.9% | 3.4% | 0.6% | na | na | na |
| JPY Tax-Cost Ratio | na | na | 0.5% | na | na | na |
JPY Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| JPY Return (NAV) | 18.6% | na | na | na | na | na | na | na | na | na | na |
| JPY Return (Price) | 17.3% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.067% | na | na | na | na | na | na | na | na | na | na |
| Japan Stock Avg | 16.7% | 28.3% | 13.9% | 25.8% | -8.2% | 5.5% | 7.6% | 18.3% | -15.2% | 25.5% | 3.3% |
| JPY Grade (NAV) | C | na | na | na | na | na | na | na | na | na | na |
| +/- Category | 1.9% | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 1.2% |
| Total Assets: | $ 83 Mil |
| Share Class Assets: | $ 83 Mil |
| Turnover: | 8.0% |
| Expense Ratio: | 0.60% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Semi-Annually |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 1.3 years | |||
| Average Tenure: 1.3 years | |||
| Managers (Year): Bills Matthew (2025), Kim June-Yon (2025), Anderson Scott (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 64 |
| % in Top 10 Holdings: | 35.7% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 98.6% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 98.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.4% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Lazard |
| Phone Number: | 800-823-6300 |
| Website: | |
| Inception Date: | April 4, 2025 |
Expenses and Fees
| Expense Ratio (%): | 0.60% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.50% |
