Adjusting vertical positioning of lyric hyphens
For joining syllables, LilyPond doesn’t use the hyphen of the text font but instead draws a simple line with variable length (this limitation is tracked as Issue #1255). Its standard vertical position doesn’t always fit the proportions of the text font. When using a font with a large x-height, it may be too low.
You can adjust the vertical positioning of the hyphens manually. To get a good result you may want to insert a “real” hyphen for comparison (like between ‘l-e’ in the snippet). You may also want to adjust the thickness of LilyPond hyphens using the thickness property of the LyricHyphen grob to match the font’s hyphen character.