A process for preparing C2 to C5 olefins includes introducing a feed stream comprising hydrogen and at least one carbon-containing component selected from the group consisting of CO, CO2, and mixtures thereof into a reaction zone. The feed stream is contacted with a hybrid catalyst in the reaction zone, and a product stream is formed that exits the reaction zone and includes C2 to C5 olefins. The hybrid catalyst includes a methanol synthesis component and a solid microporous acid component that is selected from molecular sieves having 8-MR access and having a framework type selected from the group consisting of CHA, AEI, AFX, ERI, LTA, UFI, RTH, and combinations thereof. The methanol synthesis component comprises a metal oxide support and a metal catalyst. The metal oxide support includes titania, zirconia, hafnia or mixtures thereof, and the metal catalyst includes zinc.