Lazard Non-Dollar Active Income ETF is an actively managed exchange-traded fund that seeks high current income, with capital appreciation as a secondary objective. The fund invests primarily in fixed-income securities denominated in currencies other than the U.S. dollar, including government and corporate bonds, emerging-market debt, investment-grade and non-investment-grade securities, commercial paper, and short- and medium-term debt obligations. Under normal market conditions, at least 80% of its assets are invested in non-U.S. dollar-denominated fixed-income securities. Its investment strategy combines fundamental credit analysis with global macroeconomic research to identify income opportunities across international bond markets.