RAYLIANT QUANTAMENTAL CHINA EQUITY ETF
Name
As of 10/21/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
20.0%
1 yr return
19.3%
3 Yr Avg Return
-13.8%
5 Yr Avg Return
N/A
Net Assets
$36.1 M
Holdings in Top 10
28.7%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.04%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 10/21/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
RAYC - Profile
Distributions
- YTD Total Return 20.0%
- 3 Yr Annualized Total Return -13.8%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio N/A
- Dividend Yield 3.8%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameRAYLIANT QUANTAMENTAL CHINA EQUITY ETF
-
Fund Family NameN/A
-
Inception DateDec 30, 2020
-
Shares OutstandingN/A
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerPhillip Wool
Fund Description
The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes in equity securities of issuers based in China. This investment policy may be changed by the Fund upon 60 days’ prior written notice to shareholders.
For purposes of the Fund’s investments, China includes the People’s Republic of China (“PRC”) as well as its special administrative regions and other districts, such as Hong Kong. The Adviser considers an issuer to be based in China if: (i) the issuer is organized under the laws of, or has its principal office in China; (ii) the issuer has the primary trading markets for its securities in China; (iii) the issuer derives at least 50% of its revenue or earnings from goods or services sold or produced in China; or (iv) the issuer has at least 50% of its assets in China.
The equity securities in which the Fund primarily invests are common stock, preferred stock, American Depositary Receipts (“ADRs”), and real estate investment trusts (“REITs”). The Fund may invest in securities
of companies with any market capitalization. The Fund’s equity investments may also include derivatives, principally futures contracts and swaps, which will be used primarily by the Fund for hedging purposes, to equitize cash positions in the Fund’s portfolio (i.e., obtain exposure to the equity markets and maintain liquidity while the Adviser seeks out long-term investments for the Fund), or to otherwise gain exposure to an instrument without investing in such instrument directly. The Fund may also invest in exchange traded funds (“ETFs”) to equitize cash, and engage in securities lending. From time to time, the Fund may focus its investments in a particular sector, such as the financials or consumer discretionary sector. The Fund will invest in A Shares of companies incorporated in China (“China A Shares”) that trade on the Shanghai Stock Exchange and the Shenzhen Stock Exchange through the Shanghai – Hong Kong and Shenzhen – Hong Kong Stock Connect programs (“Stock Connect”).
The Adviser selects stocks on behalf of the Fund using a combination of quantitative and fundamental investment approaches, known as “quantamental” investing. The Adviser’s quantitative investment model allocates more weight to stocks for which the model identifies the potential for higher future returns, taking into account risk (i.e., risk-adjusted returns), and less weight to stocks for which the model identifies the potential for lower future risk-adjusted returns. The Adviser’s portfolio management team may adjust portfolio weights for the Fund based on their own analysis of the securities in the Fund’s investment universe in order to enhance evaluations made by the quantitative model. Due to its investment strategy, the Fund may buy and sell securities frequently.
The Fund is classified as “non-diversified,” which means that it may invest a larger percentage of its assets in a smaller number of issuers than a diversified fund.
RAYC - Performance
Return Ranking - Trailing
Period | RAYC Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 20.0% | -16.7% | 11.8% | 94.62% |
1 Yr | 19.3% | -35.2% | 19.7% | 96.72% |
3 Yr | -13.8%* | -23.1% | 23.2% | N/A |
5 Yr | N/A* | -18.1% | 15.1% | N/A |
10 Yr | N/A* | -13.3% | 11.9% | N/A |
* Annualized
Return Ranking - Calendar
Period | RAYC Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -25.1% | -40.5% | 25.8% | 2.50% |
2022 | -32.9% | -28.6% | 30.5% | N/A |
2021 | -0.8% | -6.6% | 33.6% | N/A |
2020 | N/A | -34.7% | 11.1% | N/A |
2019 | N/A | -13.7% | 32.0% | N/A |
Total Return Ranking - Trailing
Period | RAYC Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 20.0% | -26.8% | 11.8% | 93.85% |
1 Yr | 19.3% | -35.2% | 19.7% | 96.72% |
3 Yr | -13.8%* | -23.1% | 23.2% | N/A |
5 Yr | N/A* | -16.2% | 15.1% | N/A |
10 Yr | N/A* | -13.3% | 11.9% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | RAYC Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -21.7% | -40.5% | 25.8% | 2.50% |
2022 | -31.7% | -28.6% | 30.5% | N/A |
2021 | 0.1% | -6.6% | 33.6% | N/A |
2020 | N/A | -34.7% | 11.1% | N/A |
2019 | N/A | -13.7% | 32.0% | N/A |
RAYC - Holdings
Concentration Analysis
RAYC | Category Low | Category High | RAYC % Rank | |
---|---|---|---|---|
Net Assets | 36.1 M | 1.4 M | 6.58 B | 32.82% |
Number of Holdings | 153 | 6 | 961 | 22.66% |
Net Assets in Top 10 | 9.48 M | 706 K | 4.22 B | 47.66% |
Weighting of Top 10 | 28.73% | 6.6% | 99.9% | 81.25% |
Top 10 Holdings
- KWEICHOW MOUTAI CO LTD-A COMMON STOCK 5.16%
- PING AN INSURANCE GROUP CO-A COMMON STOCK 4.13%
- SHENZHEN MINDRAY BIO-MEDIC-A COMMON STOCK 3.39%
- CONTEMPORARY AMPEREX TECHN-A COMMON STOCK 2.95%
- MIDEA GROUP CO LTD-A COMMON STOCK 2.66%
- BYD CO LTD -A COMMON STOCK 2.28%
- CHINA MERCHANTS BANK-A COMMON STOCK 2.25%
- WEICHAI POWER CO LTD-A COMMON STOCK 2.12%
- WULIANGYE YIBIN CO LTD-A COMMON STOCK 1.93%
- FOXCONN INDUSTRIAL INTERNE-A COMMON STOCK 1.86%
Asset Allocation
Weighting | Return Low | Return High | RAYC % Rank | |
---|---|---|---|---|
Stocks | 99.56% | 0.00% | 102.18% | 37.98% |
Cash | 0.44% | -2.18% | 11.89% | 60.16% |
Preferred Stocks | 0.00% | 0.00% | 0.00% | 9.38% |
Convertible Bonds | 0.00% | 0.00% | 0.15% | 14.06% |
Bonds | 0.00% | 0.00% | 69.90% | 14.73% |
Other | 0.00% | 0.00% | 47.32% | 24.22% |
RAYC - Expenses
Operational Fees
RAYC Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.04% | 0.09% | 3.14% | 63.08% |
Management Fee | 0.60% | 0.09% | 1.50% | 13.74% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.06% | 0.26% | N/A |
Sales Fees
RAYC Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 3.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
RAYC Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 2.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
RAYC Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 4.00% | 278.00% | 96.72% |
RAYC - Distributions
Dividend Yield Analysis
RAYC | Category Low | Category High | RAYC % Rank | |
---|---|---|---|---|
Dividend Yield | 3.80% | 0.00% | 22.09% | 32.82% |
Dividend Distribution Analysis
RAYC | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | Annually | Monthly | Annually |
Net Income Ratio Analysis
RAYC | Category Low | Category High | RAYC % Rank | |
---|---|---|---|---|
Net Income Ratio | N/A | -1.76% | 4.74% | 13.60% |
Capital Gain Distribution Analysis
RAYC | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 28, 2023 | $0.586 | OrdinaryDividend |
Dec 28, 2022 | $0.282 | OrdinaryDividend |
Dec 29, 2021 | $0.213 | OrdinaryDividend |
RAYC - Fund Manager Analysis
Managers
Phillip Wool
Start Date
Tenure
Tenure Rank
Dec 30, 2020
1.42
1.4%
Phillip Wool, PhD has served as Managing Director and Head of Investment Solutions at Rayliant Asset Management since June 2017. Previously, he was an Assistant Professor of Finance at State University of New York in Buffalo from 2013 to 2017. Mr. Wool has 19 years of industry experience. He received a BA and a BSBA from Washington University in St. Louis and a PhD in finance from UCLA.
Jason Hsu
Start Date
Tenure
Tenure Rank
Dec 30, 2020
1.42
1.4%
Jason Hsu is the founder and chairman of Rayliant Global Advisors. At Rayliant, Jason is continuing that commitment by educating investors and offering products to transform the investment ecosystem in Asia and beyond. Prior to his current role, Jason was the co-founder and vice chairman of Research Affiliates. Jason graduated with a BS (summa cum laude) in physics from the California Institute of Technology, was awarded an MS in finance from Stanford University, and earned his Ph.D. in finance from UCLA.
Vivek (Vish) Viswanathan
Start Date
Tenure
Tenure Rank
Dec 30, 2020
1.42
1.4%
Vivek Viswanathan, PhD has served as Senior Managing Director and Global Head of Research at Rayliant Asset Management since June 2017. Previously, he served as Vice President at Research Affiliates from 2006 to 2015. Mr. Viswanathan has 16 years of industry experience. He received a BA from the University of Chicago, a Master of Financial Engineering from the Anderson School of Management at UCLA and a PhD from the UC Irvine Merage School of Business. Mr. Viswanathan also holds CFA, CAIA and FRM designations.
Mark Schlarbaum
Start Date
Tenure
Tenure Rank
Sep 29, 2021
0.67
0.7%
Mark Schlarbaum has served as Managing Director, Head of Capital Markets and Trading at the Adviser since December 2020. Previously, Mr. Schlarbaum was Managing Partner at KraneShares from December 2014 to January 2020 during which he oversaw the firm’s ETF business growth. He was also the portfolio manager for all KraneShares funds. Previously, he was vice president of equity trading at T. Rowe Price (1997-2003); co-founder of Schlarbaum Capital Management (2002-2006); head equity trader at Global Capital Management (2007-2009); managing director of Palliser Bay (2009-2014); and principal business developer at Trident Distribution Partners (2014-2015). Mr. Schlarbaum graduated with a bachelor’s degree in psychology and economics from Purdue University.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.09 | 28.32 | 4.11 | 3.22 |