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Last updated 07.08.2025

Rayliant Quantamental Emerging Market ex-China Equity ETF

Last updated 07.08.2025

The Rayliant Quantamental Emerging Market ex-China Equity ETF is an active strategy that employs big data and sophisticated quantitative models to identify investment opportunities in emerging market stocks traded around the world.
Note: As of 10/24/2023, the fund's name and benchmark was changed.

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Performance

(as of 06/30/2025)

Monthly Quarterly

1-MO 3-MO 1Y 3Y 5Y YTD Since Inception (12.15.2021)
RAYE NAV (%) 8.14% 19.09% 7.51% 12.34% 12.10% 4.94%
RAYE Market Price (%) 7.54% 17.71% 6.78% 11.98% 11.07% 4.73%
MSCI Emerging Markets ex China Index (%) 7.12% 16.80% 10.19% 10.11% 14.91% 3.26%

Benchmark Information

The MSCI Emerging Markets ex China Index captures large and mid cap representation across 23 of the 24 Emerging Markets (EM) countries excluding China. With 680 constituents, the index covers approximately 85% of the free float-adjusted market capitalization in each country.

Benchmark Disclosure

The benchmark depicted in the table is a linked benchmark, representing the performance of the MSCI Emerging Markets Index from the Fund’s inception, through Oct. 23, 2023, and the MSCI Emerging Markets ex-China Index thereafter. On Oct. 24, 2023, the Fund underwent a strategy change from a global Emerging Markets strategy to an Emerging Markets exChina strategy, at which point the Fund’s benchmark changed, accordingly.

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 12.15.2021
Ticker RAYE
Primary Exchange NYSE
Net Expense Ratio* 0.88%
CUSIP 00775Y710
Premium/Discount 0.00%
30-Day Median Bid/Ask Spread ¹  0.3915%
Gross Expense Ratio* 1.46%

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 Emerging Market ex-China Equity ETF (the “Fund”) seeks long-term capital appreciation.

Fund Highlights

RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF

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Historical Premium
/ Discount Data

Number
of Days At:
2024 2025
Q1
2025
Q2
2025
Q3
Premium 186 40 24 1
NAV 9 0 1 1
Discount 57 20 37 3

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 07.09.2025) Holdings are subject to change.

Ticker Company Name % of Net Assets SEDOL Quantity
Cash -5.15 % -3822223.40
BRAZILIAN REAL 0.17 % BRL 685698.68
CHILEAN PESO 0.11 % CLP 77906258.00
COLOMBIAN PESO 0 % COP 161428.13
CZECH REPUBLIC KORUNA 0 % CZK 631.27
EURO 0 % EUR 123.89
HONG KONG DOLLAR 0 % HKD 636.31
HUNGARIAN FORINT 0.1 % HUF 25832613.13
INDIA RUPEE 1.45 % INR 92265469.51
INDONESIA RUPIAH 0.16 % IDR 1893270243.00
KOREAN WON 0.6 % KRW 605123557.00
MALAYSIAN RINGGIT 0.01 % MYR 36656.32
MEXICAN PESO 0 % MXN 6930.40
POLISH ZLOTY 0.24 % PLN 650175.47
QATAR RIYAL SPOT 0.12 % QAR 336205.80
SAUDI RIYAL 0.2 % SAR 562044.56
SOUTH AFRICAN RAND 0 % ZAR 28337.31
TAIWAN DOLLAR 1.81 % TWD 39130914.00
THAILAND BAHT 0.14 % THB 3428605.02
UAE DIRHAM 0.12 % AED 323932.44
2345 ACCTON TECHNOLOGY CORP 1.62 % 6005214 46000.00
ALFAA ALFA S.A.B.-A 0.39 % 2043423 378700.00
AMM AMMB HOLDINGS BHD 0.3 % 6047023 184200.00
ANTM ANEKA TAMBANG TBK 1.94 % 6053859 7952500.00
2357 ASUSTEK COMPUTER INC 1.56 % 6051046 53000.00
BAF BAJAJ FINANCE LTD 0.88 % BTFGH15 60214.00
BBL BANGKOK BANK PUB 1.73 % 6077008 291800.00
BOB BANK OF BARODA 0.54 % BVF87C6 143573.00
BHARTI BHARTI AIRTEL LTD 1.61 % 6442327 50545.00
BHARTIHE IN BHARTI HEXACOM LTD 0.32 % BMDR2V6 11378.00
BBDC4 Banco Bradesco SA 0.22 % B00FM53 54800.00
CBC CHINA BANKING CORP 0.85 % B8B4VL4 533010.00
CRIN COROMANDEL INTER 0.56 % B0VDZN5 16138.00
BAP CREDICORP LTD 1.93 % G2519Y108 6358.00
PLUS DIGIPLUS INTERACTIVE CORP 0.34 % 6185600 409140.00
DIXON DIXON TECHNOLOGI 0.99 % BNC5412 4088.00
DHBK DOHA BANK QPSC 1.53 % 6273420 1625514.00
EMAARDEV UH EMAAR DEVELOPMENT PJSC 0.61 % BDG1977 121896.00
EMAAR EMAAR PROPERTIES PJSC 0.31 % B01RM25 61171.00
DU EMIRATES INTEGRA 1.38 % B13TMN7 386961.00
2603 EVERGREEN MARINE CORP LTD 0.26 % 6324500 29000.00
ANDINAB Embotelladora Andina SA 1.3 % 2311454 235810.00
FMTY14 FIBRA MTY SAPI DE CV 0.77 % BTFRPD6 817000.00
SIBN GAZPROM NEFT PJSC 0 % B59L417 111970.00
GLXO GLAXOSMITHKLINE 0.79 % 6117982 15359.00
CIBEST GRUPO CIBEST SA 0.36 % BP6QXH4 20671.00
000880 HANWHA CORPORATION 0.46 % 6496755 5257.00
HCLT HCL TECHNOLOGIES LTD 1.96 % 6294896 73023.00
267250 HD HYUNDAI 0.62 % BD4HFT1 4714.00
329180 HD HYUNDAI HEAVY INDUSTRI 0.62 % BMDHSH4 1616.00
009540 HD KOREA SHIPBUI 0.87 % 6446620 2743.00
HDFCB HDFC BANK LIMITED 0.27 % BK1N461 8491.00
HDFCLIFE IN HDFC LIFE INSURA 0.45 % BF0TRG6 35852.00
HPCL HINDUSTAN PETROLEUM CORP 0.89 % 6100476 125311.00
2317 HON HAI 1.61 % 6438564 219000.00
086280 HYUNDAI GLOVIS CO LTD 0.4 % B0V3XR5 2873.00
064350 HYUNDAI ROTEM COMPANY 0.46 % BFPM3C8 2509.00
ICICIBC ICICI BANK LTD 1.5 % BSZ2BY7 66162.00
ICICIGI ICICI LOMBARD GE 0.85 % BYXH7P9 26601.00
024110 INDUSTRIAL BANK OF KOREA 0.7 % 6462972 35438.00
INDIGO INTERGLOBE AVIATION LTD 1.47 % BYYZ7D0 16107.00
3293 INTL GAMES 1.1 % 6744807 28000.00
INL INVESTEC LTD 0.82 % B17BBR6 82385.00
175330 JB FINANCIAL GROUP CO LTD 0.53 % BB96Z33 22694.00
JBSS32 JBS NV 0.65 % BSJQ811 36487.00
JKCE JK CEMENT LTD 1.28 % B0CJ800 12982.00
KVB KARUR VYSYA BANK LTD 0.47 % BZ7PLF4 110320.00
KBANK KASIKORNBANK PCL 0.5 % 6888783 77700.00
000270 KIA CORP 0.82 % 6490928 8369.00
2059 KING SLIDE WORKS CO LTD 0.8 % B01H720 8000.00
015760 KOREA ELECTRIC POWER CORP 1.39 % 6495730 36531.00
071050 KOREA INVESTMENT 0.71 % 6654586 5057.00
KIMS KRISHNA INSTITUT 0.25 % BRQPHN9 22781.00
KTC KRUNGTHAI CARD PCL 0.74 % BF2LWS7 719500.00
032640 LG UPLUS CORP 0.39 % 6290902 27053.00
MTELEKOM HB MAGYAR TELEKOM 1.19 % 4577469 170571.00
1477 MAKALOT INDUSTRIAL CO LTD 0.46 % 6580432 39440.00
MRCO MARICO LTD 0.36 % B1S34K5 31741.00
MOL MOL 0.59 % BD5ZXH8 49785.00
MTM MOMENTUM GROUP LIMITED 1.26 % BK9S758 492861.00
MUTH MUTHOOT FINANCE LTD 0.6 % B40MFF3 14332.00
NAHDI NAHDI MEDICAL CO 0.26 % BMZPZG4 5538.00
NPN NASPERS LTD-N SHS 1.28 % BN0VX82 3063.00
005940 NH INVESTMENT & 0.42 % 6537085 20427.00
NLMK NOVOLIPETSK STEEL PJSC 0 % B59FPC7 98630.00
OPAP OPAP SA 0.72 % 7107250 23390.00
OPTIMA OPTIMA BANK SA 0.26 % BL571C1 22593.00
PKN ORLEN SA 0.88 % 5810066 27719.00
OUT OUTSURANCE GROUP LTD 0.72 % BN6QSM0 119935.00
PAG PAGE INDUSTRIES LTD 0.64 % B1VJS64 834.00
PSYS PERSISTENT SYSTEMS LTD 1.21 % BLC87W9 13336.00
PETD PETRONAS DAGANGAN BHD 0.27 % 6695938 39800.00
PLNG PETRONET LNG LTD 0.51 % B00KT68 105959.00
PHOR PHOSAGRO PJSC-GDR REG S 0 % B62QPJ1 22934.00
PSSA3 PORTO SEGURO SA 0.61 % B0498T7 45400.00
2379 REALTEK SEMI 1.69 % 6051422 65000.00
RDOR3 REDE D'OR SAO LUIZ SA 0.89 % BNDQ8P6 103200.00
REDI REDINGTON LTD 1.22 % B1R3S15 251474.00
RHBBANK RHB BANK BHD 0.43 % 6244675 216400.00
RIBL RIYAD BANK 1.57 % B12LZW4 151874.00
RIYADHCA AB RIYADH CABLES GROUP CO 0.79 % BNBPXW7 15616.00
SALIK SALIK CO PJSC 0.76 % BJN5952 343378.00
005930 SAMSUNG ELECTRON 3.92 % 6771720 64810.00
SLM SANLAM LTD 0.21 % B0L6750 30932.00
SIBC SAUDI INVESTMENT BANK/THE 0.38 % B12M7M1 72014.00
CHMF SEVERSTAL PJSC 0 % B5B9C59 11625.00
000660 SK HYNIX INC 2.06 % 6450267 7433.00
SOIL SOLAR INDUSTRIES 0.91 % BYZ9NH7 3511.00
SUZB3 SUZANO SA 1.21 % B02GKC7 96200.00
TPE TAURON POLSKA ENERGIA SA 1.97 % B5P7L41 626233.00
TECHM TECH MAHINDRA LTD 0.9 % BWFGD63 35013.00
SNB THE SAUDI NATIONAL BANK 0.42 % BSHYYN1 31468.00
1319 TONG YANG INDUSTRY 0.53 % 6898845 121000.00
3044 TRIPOD TECHNOLOGY CORP 0.5 % 6305721 44000.00
2330 TSMC 15.67 % 6889106 313000.00
2404 UNITED INTEGRATE 2.38 % 6105136 75000.00
UPLL UPL LTD 0.34 % B0L0W35 32293.00
WLCO WELSPUN CORP LTD 1.72 % B07PYG1 119875.00
316140 WOORI FINANCIAL GROUP INC 0.51 % BGHWH98 20239.00

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.

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.

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.