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SYZ

GradeCNASDAQ

Lazard US Systematic Small Cap Equity ETF

Active Equity · Lazard · Inception 2021-10-28

$29.32−0.24 (−0.80%)

As of Sep 23, 2026, 3:09 PM EDT

History starts Sep 15, 2025.
Intraday session: down, 11 prints from 29.56 to 29.32. Range 29.24 to 29.41. Use the arrow keys to read each point.$29.25$29.30$29.35$29.4010 AM12 PM2 PM4 PM
Expense ratio
0.60%
Fund size
$65M
1Y return
+17.3%
Yield · Last 12 months
Data unavailable
Holdings
451
Volume · 30D
0M sh
NAV per share
$29.43
52W range
low $23.39high $31.22

The ETF.net SYZ Grade

C

55/ 100

Rank 17 of 41 in US Active Small-Cap⁠

Confidence High

Six-pillar profile for SYZ. Scores out of 100: Cost 49, Risk 75, Mission 89, Tradability 31, Holdings 80, Durability 62. Strongest: Mission (89). Weakest: Tradability (31). Leans toward Mission.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 55 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    CScore 49
    Category rank22/41 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 89
    Category rank1/10 · top 10%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    AScore 75
    Category rank3/37 · top 8%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 31
    Category rank31/41 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    AScore 80
    Category rank7/41 · top 17%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 62
    Category rank17/41 · top 41%

Graded as of Sep 22, 2026

Our read on SYZ

ETF.net Research

CLazard took a small cap strategy running since 2014, converted it from a mutual fund into an ETF in 2025, and runs it on "Automated Fundamental Analysts": code that sifts the whole US small cap universe the way a human analyst would.

Stated mandate

The Portfolio seeks long-term capital appreciation.

Why people hold it

  1. 01Not a brand-new launch in an ETF wrapper. The strategy dates to 2014 and moved into the ETF structure in September 2025, carrying a decade-plus of live history with it.lazard.com
  2. 02The systematic engine surveys the entire investable US small cap universe, aiming at a corner of the market where thin sell-side coverage is the whole pitch.lazard.comlazardassetmanagement.com
  3. 03What sits in the portfolio lines up closely with the value-leaning small cap mandate in the prospectus, spread across a long list of names rather than a handful of concentrated bets.

Worth knowing

  1. 01At 0.74% a year, it costs more than the typical active US small cap ETF. Systematic rivals like AVUV and AVSC charge 0.25%.
  2. 02Small asset base and light trading volume, so bid-ask spreads tend to run wider than in the category's heavyweights.
  3. 03Fully active: there's no index to fall back on, so the model's stock selection drives the outcome and the fund can diverge from standard small cap benchmarks in either direction.

SYZ Holdings

As of Sep 20, 2026, 8:43 AM
Asset class
Stocks
Holdings
451
Top-10 weight
7%
Largest holding
LAZARD GOVT MNY MMKT INS LZIXX0.9%

Geography

  • United States88.35%
  • Canada3.23%
  • Israel1.62%
  • Bermuda1.10%
  • United Kingdom0.86%
  • Singapore0.82%
  • Luxembourg0.65%
  • Panama0.57%
  • Other countries (10)2.80%
The fund’s holdings, weight-ordered — page 1 of 33.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—LAZARD GOVT MNY MMKT INS LZIXX0.94%614,253$614K7
002MLIMUELLER INDUSTRIES INC0.90%9,729$587K215
003TILEINTERFACE INC0.78%14,764$508K138
004FROGJFROG LTD0.72%4,994$469K115
005OPLNOPENLANE INC0.71%13,556$464K133
006ADEAADEIA INC0.69%18,135$452K135
007DTDYNATRACE INC0.68%7,994$446K184
008DIODDIODES INC0.67%4,807$436K136
009MCRIMONARCH CASINO + RESORT INC0.65%3,465$425K125
010TIGOMILLICOM INTL CELLULAR S.A.0.65%4,436$424K139
011TKRTIMKEN CO0.64%3,593$419K157
012ARWARROW ELECTRONICS INC0.64%1,934$416K174
013DGIIDIGI INTERNATIONAL INC0.63%5,632$409K128
014BMRNBIOMARIN PHARMACEUTICAL INC0.62%6,188$403K181
015ACADACADIA PHARMACEUTICALS INC0.61%14,578$400K128

Showing 1–15 of 490 holdings

SYZ Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

SYZ$11,734
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. SYZ $11,734. SPY $11,723. Use the arrow keys to read each point.$9,102$10,856$12,610Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for SYZ. Periods over one year show the average yearly return.
PeriodSYZ
Year to date+17.4%
1 month−3.2%
3 months−2.5%
1 year+17.3%
3 yearsHistory unavailable—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for SYZ
YearReturn barSYZ
2026 YTD+17.4%
2025+0.9%

History from Sep 15, 2025

SYZ in the news

ETF.net Research hasn’t filed on SYZ yet — coverage lands here as it’s written.

SYZ Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.06 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution data unavailable.

Distribution history

2026

One bar per payment. 3 payments in 2026 YTD. Mar 20, 2026 $0.04; Jun 18, 2026 $0.03; Sep 18, 2026 $0.06. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Sep 18, 2026Sep 21, 2026$0.06
Jun 18, 2026Jun 22, 2026$0.03
Mar 20, 2026Mar 23, 2026$0.04

SYZ Risk

How much the fund’s monthly returns vary, scaled to a year.
—
No data available
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
No data available
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−8.0%
12 months · trough Nov 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.01
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

SYZ Cost

Expense ratio0.60%
  • The middle half of US Active Small-Cap funds
  • Median 0.55%

20 of the 39 US Active Small-Cap funds charge less.

SYZ costs $60.00 a year on $10,000. The median US Active Small-Cap fund costs $55.00.