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Last updated 07.08.2025

Rayliant Quantamental China Equity ETF

Last updated 07.08.2025

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 06/30/2025)

Monthly Quarterly

1-MO 3-MO 1Y 3Y 5Y YTD Since Inception (12.30.2020)
RAYC NAV (%) 3.65% 4.08% 16.39% -8.86% 6.13% -8.45%
RAYC Market Price (%) 3.89% 3.74% 16.15% -9.32% 6.02% -8.57%
CSI 300 Index (%) 3.82% 3.72% 19.14% -3.80% 3.29% -5.32%

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  0.2044%
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
2025
Q3
Premium 51 14 7 0
NAV 10 4 2 0
Discount 191 42 53 5

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 07.08.2025) Holdings are subject to change.

Ticker Company Name % of Net Assets SEDOL Quantity
Cash 0.15 % 28042.41
688049 ACTIONS TECHNOLO 0.39 % BQYL174 8600.00
688012 ADVANCED MICRO-A 0.92 % BK71F66 6600.00
601577 BANK OF CHANGSHA CO LTD-A 0.78 % BK94875 98900.00
600926 BANK OF HANGZHOU CO LTD-A 1.03 % BYW5MZ9 80000.00
600919 BANK OF JIANGSU CO LTD-A 1.78 % BYW5MY8 190230.00
601009 BANK OF NANJING CO LTD -A 0.83 % BP3R529 93312.00
601229 BANK OF SHANGHAI CO LTD-A 0.58 % BD8P9J9 67900.00
300662 BEIJING CAREER-A 0.8 % BMTCWC6 36200.00
601126 BEIJING SIFANG-A 2.03 % BP3RFT6 160100.00
600266 BEIJING URBAN-A 0.81 % BP3RBL0 223700.00
688256 CAMBRICON TECHNOLOGIES-A 2.46 % BNHPMD5 6000.00
601898 CHINA COAL ENERGY CO-A 0.85 % BP3R3P8 99700.00
601818 CHINA EVERBRIG-A 1.01 % BP3R2P1 301700.00
600176 CHINA JUSHI CO LTD -A 0.81 % BP3RDW5 85800.00
600036 CHINA MERCHANTS BANK-A 2.51 % BP3R273 69597.00
600016 CHINA MINSHENG BANKING-A 0.71 % BP3R2C8 179100.00
601668 CHINA STATE -A 2.62 % BP3R2Q2 581600.00
601916 CHINA ZHESHANG-A 0.57 % BK96BF0 202700.00
601077 CHONGQING RURA-A 1.06 % BJLWMG7 192600.00
603993 CMOC GROUP LTD-A 2.09 % BP3R574 324200.00
300750 CONTEMPORARY A-A 4.83 % BHQPSY7 24268.00
688035 DARBOND TECHNO-A 0.39 % BQZDHP9 12800.00
600694 DASHANG CO LTD -A 1.24 % BP3RBY3 86225.00
605499 EASTROC BEVERA-A 2.13 % BP91NL0 9360.00
300502 EOPTOLINK TECH-A 2.03 % BD761B9 19880.00
601901 FOUNDER SECURI-A 0.43 % BP3R411 71600.00
601138 FOXCONN INDUST-A 1.06 % BG20N99 53200.00
300972 FUJIAN WANCHEN B 0.31 % BPDWSZ8 2500.00
603444 G-BITS NETWORK-A 0.98 % BYZQW37 3900.00
000776 GF SECURITIES CO LTD-A 2.26 % BD5CQ36 174300.00
000651 GREE ELECTRIC-A 1.4 % BD5CPN9 39800.00
000921 HISENSE H.A-A 0.36 % BD5M2M7 18200.00
600027 HUADIAN POWER INTL CORP-A 1.17 % BP3R637 273000.00
601688 HUATAI SECURIT-A 2.7 % BP3R3B4 196400.00
600801 HUAXIN CEMENT CO LTD-A 0.2 % BP3RD36 21300.00
601166 INDUSTRIAL BANK CO LTD -A 2.22 % BP3R295 116900.00
600887 INNER MONG YIL-A 0.26 % BP3R2V7 12400.00
601128 JIANGSU CHANGS-A 0.76 % BFF1Z18 133652.00
600276 JIANGSU HENGRU-A 1.85 % BP3R369 45800.00
002807 JIANGSU JIANGY-A 0.39 % BFY8GK6 106300.00
603323 JIANGSU SUZHOU R 0.29 % BMF7N00 67100.00
600519 KWEICHOW MOUTAI CO LTD-A 5.64 % BP3R2F1 5272.00
002475 LUXSHARE PRECI-A 0.94 % BD5CN80 35200.00
600873 MEIHUA HOLDING-A 0.92 % BP3R6S2 111500.00
000333 MIDEA GROUP CO LTD-A 3.93 % BD5CPP1 71900.00
600064 NANJING GAOKE CO LTD-A 1.4 % BP3RGD7 234600.00
601336 NEW CHINA LIFE-A 2.12 % BP3R3F8 46300.00
605117 NINGBO DEYE TE-A 0.5 % BP91NG5 12100.00
603501 OMNIVISION INTEG 1.18 % BK947V2 12500.00
002624 PERFECT WORLD CO LTD-A 2.06 % BD5M1C0 179200.00
601319 PICC HOLDING CO-A 1.7 % BDFS9G8 259200.00
601318 PING AN INSURA-A 1.14 % BP3R284 26800.00
002958 QINGDAO RURAL -A 0.69 % BK4XYB3 242100.00
002352 S F HOLDING CO LTD-A 1.64 % BD73M39 45400.00
600031 SANY HEAVY IND-A 1.19 % BP3R3H0 82300.00
600219 SHANDONG NANSH-A 1.59 % BP3R9D8 539800.00
600000 SHANG PUDONG-A 0.89 % BP3R2B7 82400.00
002706 SHANGHAI LIANG-A 0.5 % BMVB2G5 73100.00
601825 SHANGHAI RURAL-A 0.77 % BQ3RWZ8 102300.00
600674 SICHUAN CHUAN-A 0.43 % BP3R4Y4 35100.00
600866 STAR LAKE BIOSCI 1.08 % BMF7KN2 199200.00
600710 SUMEC CORP LTD-A 1.94 % BMF4S06 266600.00
600600 TSINGTAO BREWERY CO LTD-A 0.31 % BP3R499 5900.00
002739 WANDA FILM HOL-A 0.35 % BD5CPH3 40900.00
000858 WULIANGYE YIBIN CO LTD-A 3.21 % BD5CPG2 35200.00
603259 WUXI APPTEC CO LTD-A 2.85 % BHWLWV4 53600.00
300628 YEALINK NETWOR-A 0.31 % BFCCR07 11700.00
000902 YONFER AGRICUL-A 0.37 % BD5CF06 34701.00
000538 YUNNAN BAIYAO-A 1.83 % BD5CP95 43200.00
002284 ZHEJIANG ASIA -A 1.06 % BD5C8W9 127000.00
600273 ZHEJIANG JIAHU-A 1.51 % BZ0D1G6 224000.00
002001 ZHEJIANG NHU CO LTD-A 1.93 % BD5CH66 116500.00
601899 ZIJIN MINING-A 1.93 % BP3R400 128900.00

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.