At a glance
THMZ charges 0.5% a year, below the 0.62% average of the 6 funds most like it (the 2nd cheapest of 7). It has $54.1M in assets, the 7th largest of that group; it paid 0.29% of its price in distributions over the past 12 months, semiannual. Its ten largest positions make up 34.3% of the fund, out of 59 in all.
The short version
Lazard Equity Megatrends ETF (THMZ) is an actively managed fund holding 59 large companies around the world. Lazard's analysts pick them because they expect the companies to benefit from long-term shifts such as technological innovation and changing demographics. Its 0.50% expense ratio is below the 0.62% average of similar thematic funds. But with $54 million in net assets as of June 30, 2026, it is the smallest fund in its peer group, and its track record is short.
Price history
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THMZ — over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| THMZ price data to Oct 27, 2026 | +3.7% | — | — | — | — | — |
- The deepest fall in its price history was 4.6% (Oct 6, 2026 to Oct 23, 2026), not yet recovered.
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
No distribution history is available for this fund.
Distributions through Oct 27, 2026.What's inside
As of Jun 30, 2026, the fund held 59 securities; the ten largest made up 34.34% of assets. It also reported 3.47% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.
| Holding | Weight | |
|---|---|---|
| Taiwan Semiconductor Manufacturing Co Ltd | 6.07% | |
| Applied Materials Inc | 5.54% | |
| Alphabet Inc | 3.54% | |
| Amazon.com Inc | 3.50% | |
| Microsoft Corp | 2.77% | |
| NVIDIA Corp | 2.76% | |
| Mitsubishi Electric Corp | 2.72% | |
| Keysight Technologies Inc | 2.59% | |
| FANUC Corp | 2.48% | |
| Siemens AG | 2.37% | |
| Broadcom Inc | 2.22% | |
| Schneider Electric SE | 1.98% | |
| Amphenol Corp | 1.93% | |
| Apple Inc | 1.91% | |
| Thermo Fisher Scientific Inc | 1.89% |
By country
United States 53.45%Japan 10.31%Taiwan 6.07%Sweden 4.84%United Kingdom 4.45%By asset type
Stocks 97.57%By sector
Sectors of the companies held, for the 49% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jun 30, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jun 30, 2026, investors added a net $811K (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +12.12%, +3.67%, +0.59%.
How it works
THMZ does not track an index. Lazard's managers use their own thematic process. First they look for "megatrends," meaning large economic shifts, and for themes that grow out of changes in demographics, lifestyles, government policy and spending, regulation, technology or the environment. Then the team's analysts research individual companies one by one. They look at a company's finances, the quality of its management, its position against competitors, its room to grow and its valuation. At least 80% of the fund goes into stocks and similar securities. Most holdings are companies worth more than $5 billion when bought, and they can include companies in emerging markets.
As of June 30, 2026, the fund held 59 stocks, and the top 10 made up 34% of assets. The largest positions were Taiwan Semiconductor Manufacturing (6.1%), Applied Materials (5.5%), Alphabet (3.5%) and Amazon (3.5%). Microsoft, NVIDIA, Mitsubishi Electric, Keysight, FANUC and Siemens followed. About 53% was in US companies, 10% in Japan and 6% in Taiwan. The prospectus gives no fixed weighting formula, so position sizes are the manager's call. Portfolio turnover was 5%, which means the fund traded little.
The fund is "non-diversified." That means it may put more of its money in a small number of companies than a diversified fund could. It may use futures, swaps and currency forwards to hedge or to try to add return, but the June 30, 2026 report showed no derivatives. The fund does not use leverage or options.
What it really costs
- THMZ charges 0.5% a year, versus an average of 0.62% for the similar funds below (2nd of 7, cheapest first).
- Of that, 0.6% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $50 in the first year and $739 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| THMZ | $50 | $181 | $324 | $739 |
In a retirement portfolio
It is a small, actively managed and non-diversified thematic stock fund with a short history and little income, so it fits better as a minor add-on than as a core holding.
THMZ could add actively chosen, global exposure to companies tied to long-term trends. But its history is too short to show how it holds up in a real downturn. Price data starts June 9, 2026, so the fund has no record through the 2008, 2020 or 2022 sell-offs and no full calendar year of results. Its deepest drop in that window was 4.6%, from October 6 to October 23, 2026, and it had not recovered as of October 27, 2026. Its beta was 1.21, which means it moved about 1.2 times as much as the market over that short span. A fund like that may fall harder in a slump, which matters for anyone who might need to sell in a bad year. Income is minimal: the yield was 0.29% as of October 27, 2026, paid twice a year. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want a hand-picked mix of 59 large trend-linked companies, including Japan's FANUC, Germany's Siemens and Taiwan Semiconductor alongside US technology names.
- Those who want a thematic fund at a lower cost than most peers: 0.50% a year, compared with a 0.62% peer average.
- Long-term holders who prefer a low-trading approach (5% turnover) as a small satellite next to broad core funds.
Look elsewhere if
- Retirees who need income: the yield was just 0.29% as of October 27, 2026, paid twice a year.
- Investors who want a proven record: the prospectus shows no performance, and price data covers no full calendar year or major bear market.
- Those who prefer large, heavily traded funds: THMZ held $54 million as of June 30, 2026, the smallest of seven similar funds.
Close alternatives
Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| THMZ this fund | — | 0.5% | $54.1M | — | — |
| XT iShares Exponential Technologies ETF | 21% | 0.46% | $3.82B | +21.9% | +24.5% |
| FWD AB Disruptors ETF | 20% | 0.65% | $3.20B | +15.2% | +36.7% |
| GINN Innovate Equity ETF | 19% | 0.5% | $198.0M | +6.5% | +24.4% |
| FDTX Fidelity Disruptive Technology ETF | 18% | 0.5% | $287.9M | +29.0% | +35.0% |
| ARKK ARK Innovation ETF | 12% | 0.75% | $5.56B | -6.1% | +35.5% |
| TMAT Main Thematic Innovation ETF | 6% | 0.85% | $237.4M | +0.9% | +31.6% |
Questions investors ask
Is THMZ good for retirement?
THMZ fits better as a small, higher-risk satellite than as a core retirement holding. It is an actively managed, non-diversified stock fund focused on long-term themes, and its yield was only 0.29% as of October 27, 2026. Its price history starts June 9, 2026, so it has no record through a major bear market. Its deepest drop so far was 4.6%, in October 2026. Investors who need steady income or proven downturn behavior may want to compare broader funds.
What does THMZ invest in?
THMZ invests in large global companies that Lazard expects to benefit from megatrends such as technological innovation, demographics and government spending. As of June 30, 2026, it held 59 stocks. The largest were Taiwan Semiconductor Manufacturing (6.1%), Applied Materials (5.5%), Alphabet (3.5%) and Amazon (3.5%). About 53% was in US companies, with Japan (10%), Taiwan (6%), Sweden, the UK and France making up much of the rest. It can also buy emerging-market stocks.
What is the THMZ expense ratio?
THMZ's expense ratio is 0.50% a year, according to its prospectus filed April 23, 2026. That ranks 2nd-lowest among seven similar thematic funds, whose average is 0.62%. In the SEC's standard example, $10,000 invested with a 5% annual return would cost about $50 after one year, $181 after three years, $324 after five years and $739 after 10 years, assuming the shares are sold at the end of each period.
Does THMZ pay dividends?
Yes, but not much. THMZ pays dividends twice a year. Over the 12 months to October 27, 2026, it paid about $0.10 per share, a yield of 0.29%. That is typical for a fund built around growth-oriented companies such as Taiwan Semiconductor, NVIDIA and Microsoft, which put more of their profits back into the business than they pay out. Investors seeking meaningful income would need to look to other funds.
THMZ vs XT: what's the difference?
XT, the iShares Exponential Technologies ETF, has the most holdings in common with THMZ, but only 21% of their holdings overlap. XT costs slightly less, at 0.46% versus 0.50%. It is also far larger: $3.8 billion in net assets as of July 31, 2026, compared with THMZ's $54 million as of June 30, 2026. XT returned 21.9% over the year to October 27, 2026. THMZ is too new in the available price data to have a one-year figure. THMZ is actively managed by Lazard.