Triple-conducting oxides with mobile protons, oxygen vacancies, and holes are key functional materials for protonic ceramic fuel/ electrolysis cells. We comprehensively investigate the Ba(Zr,Y,Fe)O 3−δ perovskite solid solution series ranging from electrolyte to electrode-type materials depending on iron content. From thermogravimetry and impedance spectroscopy, the proton and oxygen vacancy concentrations as well as electronic and ionic conductivities are determined. X-ray spectroscopy (Fe Kedge XANES, O K-edge Raman scattering, Fe, Zr, Y K-edge EXAFS) elucidates the finer features of the electronic structure and local distortions. A low Fe content of ≤10% strongly decreases the degree of hydration, while comparably high Fe concentrations of ≥70% are required to obtain an electronic conductivity sufficient for an electrode material. The transport of ionic and electronic carriers is interrelated in a complex way and is closely linked to details of the electronic structure (strength of Fe−O hybridization) and geometrical distortions (Fe−O−Fe and Fe−O-(Zr,Y) buckling). As a result, an optimum combination of proton concentration and electronic conductivity is not obtained in the middle of the solid solution series but rather found for Fe-rich materials with 20−30% doping with oversized, redox-inactive cations. A similar behavior is also expected for related solid solutions between a large-band gap electrolyte and small-band gap redox-active perovskites.