Rayliant Quantitative Developed Market Equity ETF

Investing involves risk, including the risk of total loss of principal. Please consider the following risks before investing in the ETF.

There can be no assurance that an ETF will achieve its stated objectives.

Investments in smaller companies typically exhibit higher volatility.

Investments that are managed according to a quantitative model can perform differently from the market as a whole.

International investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles or from social, economic or political instability in other nations.

Emerging markets risk assumes heightened risks to all the same factors within International Risk as well as increased volatility and lower trading volume.

The Adviser’s judgments about the attractiveness, value, or potential appreciation of the Fund’s investments may prove to be incorrect. The Fund may trade securities actively, which could increase its transaction costs (thereby lowering its performance) and could increase the amount of taxes you owe by generating short-term gains, which may be taxed at a higher rate.

Because the Fund is new, investors bear the risk that it may not be successful in implementing its investment strategy, employ a successful investment strategy, or may fail to attract sufficient assets under management. This could result in the Fund being liquidated at any time.

The Fund may focus its investments in a particular country or geographic region and as a result, it may be subject to greater price volatility and risk of loss than a fund holding more geographically diverse investments.

The Fund is distributed by SEI Investments Distribution Co. (SIDCO, 1 Freedom Valley Drive, Oaks, PA, 19456), which is not affiliated with the Fund’s adviser.

The adviser confirms it has taken the following steps to comply with Executive Order 13959 dated 12 November 2020:
1. It has not purchased and will not purchase for value on or after January 11, 2021 any of the Sanctioned Securities of companies identified in the Executive Order;
2. As additional Sanctioned Securities become subject to restrictions under the Executive Order, it will not purchase for value any of these Sanctioned Securities on or after the effective date of the restrictions applicable to these Sanctioned Securities;
3. To the extent it maintains holdings of Sanctioned Securities prior to the effective date of the restrictions under the Executive Order applicable to these Sanctioned Securities, it will divest all holdings of the Sanctioned Securities in accordance with the requirements of the Executive Order.