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Last updated 04.01.2025

Rayliant Quantamental China Equity ETF

Last updated 04.01.2025

The Rayliant Quantamental China Equity ETF is an active portfolio employing a systematic approach to harvesting behavioral alpha by exploiting mispricings among Chinese stocks traded in markets around the world.

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Performance

(as of 03/31/2025)

Monthly Quarterly

1-MO 3-MO 1Y 3Y 5Y YTD Since Inception (12.30.2020)
RAYC NAV (%) 2.41% 1.97% 11.58% -10.82% 1.97% -9.78%
RAYC Market Price (%) 2.34% 2.20% 11.54% -10.74% 2.20% -9.83%
CSI 300 Index (%) 0.19% -0.41% 13.00% -4.47% -0.41% -6.43%

Benchmark Information

The CSI 300 (Chinese: 沪深300) is a capitalization-weighted stock market index designed to replicate the performance of the top 300 stocks traded on the Shanghai Stock Exchange and the Shenzhen Stock Exchange.

Performance Disclosure

The performance quoted represents past performance and does not guarantee future results. Performance for periods greater than 1 year is annualized. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost.

Current performance may be lower or higher than the performance quoted.
Shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. The returns shown do not represent the returns you would receive if you traded shares at other times. Brokerage commissions will reduce returns. The market price returns are based on the official closing price of an ETF share or, if the official closing price isn't available, the midpoint between the national best bid and national best offer (“NBBO”) as of the time the ETF calculates current NAV per share. NAVs are calculated using prices as of 4:00 PM Eastern Time.

Key Facts

Inception Date 12.30.2020
Ticker RAYC
Primary Exchange NYSE
Net Expense Ratio* 0.80%
CUSIP 00774Q197
Premium/Discount 0.00%
30-Day Median Bid/Ask Spread ¹  0.2766%
Gross Expense Ratio* 1.34%

¹ 30-Day Median Bid/Ask Spread: The spread is calculated by identifying the ETF’s national best bid and national best offer ("NBBO") as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO.

The median of those values is identified and that value is expressed as a percentage rounded to the nearest hundredth.

* A full explanation of expenses and fees are stated in the prospectus. Fee waivers are contractual and in effect until 1/31/2026.

Investment Objective

The Rayliant Quantamental China Equity ETF (the “Fund”) seeks long-term capital appreciation.

Historical Premium
/ Discount Data

Number
of Days At:
2024 2025
Q1
2025
Q2
Premium 51 14 0
NAV 10 4 0
Discount 191 42 1

Chart Description

The Premium/Discount History chart demonstrates the difference between the daily market price of shares of the Fund and the Fund’s net asset value (NAV).
The vertical axis of the chart shows the premium or discount of the daily market price as a percentage of the NAV. The horizontal axis shows each trading day in the time period, and each data point in the chart represents the Premium/Discount on that day. The data presented in the chart and table above represent past performance and cannot be used to predict future results.

Top 10 Holdings

(as of 04.01.2025) Holdings are subject to change.

Ticker Company Name % of Net Assets SEDOL Quantity
Cash -0.03 % -4731.06
CHINESE YUAN RENMINBI -0.02 % CNY -31168.19
688082 ACM RESEARCH SHANGHAI I-A 0.44 % BMF7PQ0 5600.00
601288 AGRICULTURAL-A 1.13 % BP3R228 288200.00
600585 ANHUI CONCH-A 2.36 % BP3R2Z1 127700.00
600502 ANHUI CONSTRUCTION ENG-A 2.05 % BP3RK02 554300.00
688019 ANJI MICROELEC-A 0.26 % BK71F55 2000.00
300866 ANKER INNOVATI-A 1.23 % BNR4MR6 15500.00
601577 BANK OF CHANGSHA CO LTD-A 0.46 % BK94875 65200.00
601988 BANK OF CHINA LTD-A 0.92 % BP3R239 219300.00
601328 BANK OF COMMUN-A 1.19 % BP3R2G2 211200.00
600926 BANK OF HANGZHOU CO LTD-A 0.8 % BYW5MZ9 71500.00
600919 BANK OF JIANGSU CO LTD-A 1.33 % BYW5MY8 181530.00
601009 BANK OF NANJING CO LTD -A 0.47 % BP3R529 59200.00
688111 BEIJING KINGSO-A 0.23 % BNR4NQ2 1000.00
601126 BEIJING SIFANG-A 0.23 % BP3RFT6 17400.00
002594 BYD CO LTD -A 3.88 % BD5CQ69 13900.00
688256 CAMBRICON TECHNOLOGIES-A 0.39 % BNHPMD5 800.00
002550 CHANGZHOU QIAN-A 1.87 % BD5C8Y1 403900.00
601898 CHINA COAL ENERGY CO-A 0.92 % BP3R3P8 117700.00
600176 CHINA JUSHI CO LTD -A 0.81 % BP3RDW5 81800.00
601628 CHINA LIFE INSURANCE CO-A 0.27 % BP3R251 9400.00
001914 CHINA MERC - A 2.03 % BD5LS04 218700.00
600036 CHINA MERCHANTS BANK-A 2.91 % BP3R273 88897.00
601601 CHINA PACIFIC-A 2.62 % BP3R2K6 105315.00
600900 CHINA YANGTZE-A 0.84 % BP3R2M8 39300.00
603993 CMOC GROUP LTD-A 2.16 % BP3R574 373600.00
600415 COMMODITIES CI-A 0.52 % BP3R789 43600.00
300750 CONTEMPORARY A-A 5.14 % BHQPSY7 27068.00
601919 COSCO SHIPPING-A 0.65 % BP3R552 58200.00
002043 DEHUA TB NEW DECORATION-A 1.67 % BD57ZN4 205500.00
605499 EASTROC BEVERA-A 1.42 % BP91NL0 7260.00
300502 EOPTOLINK TECH-A 1.23 % BD761B9 16600.00
002027 FOCUS MEDIA IN-A 1.07 % BD5CND5 201672.00
300203 FOCUSED PHOTON-A 0.35 % BD5CCB6 27100.00
601138 FOXCONN INDUST-A 0.96 % BG20N99 63100.00
603444 G-BITS NETWORK-A 0.55 % BYZQW37 3200.00
601633 GREAT WALL MOTOR CO LTD-A 1.95 % BP3R325 99300.00
000651 GREE ELECTRIC-A 1.29 % BD5CPN9 37500.00
002967 GRG METROLOGY -A 1.84 % BL6CND0 108600.00
002311 GUANGDONG HAID GROUP CO-A 0.51 % BD5CJ60 13200.00
600894 GUANGZHOU GUAN-A 0.4 % BYQDMB5 43800.00
300360 HANGZHOU SUNRISE 0.83 % BNHPR29 60300.00
000895 HENAN SHUAN-A 1.65 % BD5CP84 78900.00
603508 HENAN THINKER -A 1.05 % BYYFJQ7 58800.00
000921 HISENSE H.A-A 0.39 % BD5M2M7 17300.00
300033 HITHINK ROYALF-A 2.23 % BD5CN46 10700.00
600027 HUADIAN POWER INTL CORP-A 0.25 % BP3R637 57600.00
600015 HUAXIA BANK CO LTD-A 0.27 % BP3R2T5 44500.00
601166 INDUSTRIAL BANK CO LTD -A 1.66 % BP3R295 102300.00
601128 JIANGSU CHANGS-A 0.84 % BFF1Z18 156320.00
600377 JIANGSU EXPRES-A 0.38 % BP3R5G3 32100.00
600276 JIANGSU HENGRU-A 0.82 % BP3R369 20700.00
002807 JIANGSU JIANGY-A 0.66 % BFY8GK6 196100.00
603323 JIANGSU SUZHOU R 0.23 % BMF7N00 56800.00
002517 KINGNET NETWORK CO LTD-A 0.64 % BD5CC27 52300.00
600422 KPC PHARMACEUTICALS INC-A 1 % BP3RC51 75000.00
600519 KWEICHOW MOUTAI CO LTD-A 5.67 % BP3R2F1 4772.00
603929 L&K ENGINEERIN-A 0.34 % BYW5NF6 13600.00
002475 LUXSHARE PRECI-A 1.08 % BD5CN80 34900.00
002714 MUYUAN FOODS CO LTD-A 0.46 % BD5CJX7 15600.00
601336 NEW CHINA LIFE-A 0.78 % BP3R3F8 19900.00
002180 NINESTAR CORP-A 0.92 % BD5M2G1 50600.00
605117 NINGBO DEYE TE-A 0.85 % BP91NG5 11900.00
601319 PICC HOLDING CO-A 1.26 % BDFS9G8 239500.00
601318 PING AN INSURA-A 4.87 % BP3R284 123700.00
601658 POSTAL SAVINGS-A 0.35 % BL61XF9 90000.00
601665 QILU BANK CO LTD-A 0.42 % BP91NB0 91700.00
002352 S F HOLDING CO LTD-A 1.39 % BD73M39 41700.00
601127 SERES GROUP CO L-A 1.98 % BYV1VC8 20600.00
600248 SHAANXI CONSTR-A 0.54 % BP3RKF7 164000.00
600000 SHANG PUDONG-A 0.82 % BP3R2B7 103700.00
601825 SHANGHAI RURAL-A 0.24 % BQ3RWZ8 36800.00
600649 SHANGHAI SMI H-A 0.77 % BP3R5W9 232900.00
600183 SHENGYI TECH C-A 0.37 % BP3RC39 17300.00
002028 SIEYUAN ELECTRIC CO LTD-A 1 % BD5C7M2 17400.00
002468 STO EXPRESS CO LTD-A 0.23 % BD5LSR1 25200.00
002970 STREAMAX TECHN-A 0.88 % BL6D2C5 21000.00
600710 SUMEC CORP LTD-A 0.3 % BMF4S06 39300.00
300498 WENS FOODSTUFF-A 0.78 % BD5CPT5 60500.00
603501 WILL SEMICONDU-A 1.08 % BK947V2 10600.00
603259 WUXI APPTEC CO LTD-A 2.69 % BHWLWV4 51700.00
300628 YEALINK NETWOR-A 1.23 % BFCCR07 39700.00
600066 YUTONG BUS CO LTD-A 0.44 % BP3R5T6 22000.00
603129 ZHEJIANG CFMOT-A 0.41 % BMQBVH4 2800.00
600216 ZHEJIANG MEDI-A 0.36 % BP3R9X8 33900.00
002001 ZHEJIANG NHU CO LTD-A 1.91 % BD5CH66 111300.00
601899 ZIJIN MINING-A 1.41 % BP3R400 103400.00

Important Information

Prospectus Disclosure

Carefully consider the Funds’ investment objectives, risks, and charges and expenses before investing. This and other information can be found in the Funds’ full or summary prospectus, which may be obtained by calling +1 (626) 407-4581 or visiting funds.rayliant.com

Please read the prospectus carefully before investing.

Risk of Investing

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

Investment Objectives

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

Small Company Risk

Investments in smaller companies typically exhibit higher volatility.

Quantitative Investment Risk

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

International Risk

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

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

Sector Risk

The Fund may be more heavily invested in particular sectors, the value of its shares may be especially sensitive to factors and economic risks that specifically affect those sectors.

Active Management Risk

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.

Single Country Risk

Securities focusing on a single country may be subject to higher volatility.

Non-diversified Risk

The ETF is not diversified.

Stock Connect / A Shares Risk

Trading through Stock Connect is subject to a number of restrictions that may affect an ETF’s investments and returns. China A shares purchased by the ETF through Stock Connect are generally subject to Chinese securities regulations and listing rules, among other restrictions.

Compliance with Executive Order

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.

Distributor

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.