* A full explanation of expenses and fees are stated in the prospectus. Fee waivers are contractual and in effect until 1/31/2024.
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.
The Rayliant Quantitative Developed Market Equity ETF (the “Fund”) seeks long-term capital appreciation.
The Rayliant Quantitative Developed Market Equity ETF is an active strategy, applying advanced quantitative methodology to identify investment opportunities in the US and other developed stock markets around the world. The resulting portfolio is built to achieve broad equity exposure, with lower risk and enhanced returns relative to a traditional passive approach.
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.
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.
Holdings are subject to change.
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 visiting: RAYC, RAYE, RAYD. Please read the prospectus carefully before investing.
Risk of Investing
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 markets involve political, social, economic and currency risks.
Active Management Risk
The Adviser’s judgments about the attractiveness, value, or potential appreciation of the Fund’s investments may prove to be incorrect.
New Fund Risk
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.
Geographic Focus Risk
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., which is not affiliated with the Fund’s adviser.
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