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Trending ETFs

Name

As of 05/20/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$24.85

$46 M

1.48%

$0.37

1.86%

Vitals

YTD Return

8.3%

1 yr return

26.3%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$46 M

Holdings in Top 10

29.0%

52 WEEK LOW AND HIGH

$24.8
$19.93
$24.85

Expenses

OPERATING FEES

Expense Ratio 1.86%

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 05/20/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$24.85

$46 M

1.48%

$0.37

1.86%

RAYE - Profile

Distributions

  • YTD Total Return 8.3%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 1.5%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Rayliant Quantamental Emerging Market ex-China Equity ETF
  • Fund Family Name
    N/A
  • Inception Date
    Dec 15, 2021
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jason Hsu

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 companies in emerging markets, excluding China. This investment policy may be changed by the Fund upon 60 days’ prior written notice to shareholders.

The Adviser considers a company to be an emerging market company if it is organized or maintains its principal place of business in an emerging market country. The Adviser considers a country to be an emerging market country if the country is represented in the MSCI Emerging Markets Index or another widely recognized emerging markets index. As of November 30, 2023, the MSCI Emerging Markets

Index consisted of the following 24 emerging markets countries: Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Korea, Kuwait, Malaysia, Mexico, Peru, Philippines, Poland, Qatar, Saudi Arabia, South Africa, Taiwan, Thailand, Turkey and the United Arab Emirates. Emerging markets are often characterized by low to middle income but with rapid economic growth, as well as financial liberalization and institutional development. The Adviser excludes from the Fund’s universe companies organized or maintaining their principal place of business in China.

The equity securities in which the Fund invests are primarily common stocks and depositary receipts, including unsponsored depositary receipts, but may also include preferred stock and securities of other investment companies. The Fund may invest in securities of companies with any market capitalization with a particular focus on mid- and large-capitalization securities.

The Fund is primarily made up of stocks from emerging markets excluding China that are selected using a “quantamental approach” using a combination of quantitative and fundamental investment strategies. In quantamental investment strategies, investment decisions are made by combining large amounts of data and computer models. 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. In addition to excluding stocks in specific countries as a result of the Fund’s investment models, the Adviser may avoid investing in a given country for which the transaction costs of investing exceed the benefits of investing in that country. Due to its investment strategy, the Fund may buy and sell securities frequently.

The Adviser uses data from a variety of sources, including data purchased from vendors and data accessed by the Adviser from alternative sources (e.g., data collected from public websites). Such data are collected at varying frequencies (e.g., daily price data, quarterly financial statements) and considered over varying horizons, ranging from months to years, depending on the nature of the data in question. The Adviser employs a proprietary data cleaning process, whereby data obtained from vendors and other sources is inspected for errors, processed to make information obtained from different sources useful in comparing various companies, sectors, and markets, and formatted for inclusion in

the Adviser’s database and for use in its models. The Adviser monitors its data and models through a combination of automated and manual checks. The Adviser pays for data used in the strategy’s models.

The Adviser also takes into account certain environmental, social, and governance (“ESG”) criteria in choosing and weighting investments in the Fund, basing its evaluation on a combination of third-party data and proprietary metrics. ESG considerations that will impact the quantitative ranking of stocks may include (but are not limited to) evaluations of firms’ financial reporting practices (e.g., reducing the weight of companies suspected of manipulative accounting) and the degree of alignment between a firm’s managers and shareholders (e.g., whether managers are prone to wastefully reinvest the company’s earnings rather than distributing earnings to shareholders). Governance characteristics will lead to either an increase or decrease of weight in a stock, depending on whether the Adviser determines that the company exhibits good or bad governance, respectively, on the basis of that characteristic. In addition, the Fund will screen out the stock of companies that are identified by the Adviser as having extremely poor environmental performance (e.g., firms with exceedingly high CO2 emissions, energy intensity, water intensity, and waste generation). Such exclusions will be made regardless of the expected future returns of stocks failing to meet the Fund’s ESG screening criteria. Because the Fund’s universe of stocks is large relative to the number of companies expected by the Adviser to fail their ESG criteria, the Adviser does not expect screening on ESG to have a significant impact on the Fund’s ability to meet its investment objective.

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RAYE - Performance

Return Ranking - Trailing

Period RAYE Return Category Return Low Category Return High Rank in Category (%)
YTD 8.3% -32.7% 17.4% 96.86%
1 Yr 26.3% -50.4% 14.4% N/A
3 Yr N/A* -16.6% 69.4% N/A
5 Yr N/A* -13.2% 32.4% N/A
10 Yr N/A* -12.4% 11.5% N/A

* Annualized

Return Ranking - Calendar

Period RAYE Return Category Return Low Category Return High Rank in Category (%)
2023 19.6% -50.1% 15.9% N/A
2022 -24.3% -26.9% 16.3% N/A
2021 N/A -7.2% 79.7% N/A
2020 N/A -14.2% 9.4% N/A
2019 N/A -11.5% 24.0% N/A

Total Return Ranking - Trailing

Period RAYE Return Category Return Low Category Return High Rank in Category (%)
YTD 8.3% -50.8% 17.4% 97.70%
1 Yr 26.3% -50.4% 30.2% N/A
3 Yr N/A* -16.6% 69.4% N/A
5 Yr N/A* -13.2% 32.4% N/A
10 Yr N/A* -12.4% 11.5% N/A

* Annualized

Total Return Ranking - Calendar

Period RAYE Return Category Return Low Category Return High Rank in Category (%)
2023 21.5% -50.1% 15.9% N/A
2022 -20.0% -18.2% 16.3% N/A
2021 N/A -7.2% 79.7% N/A
2020 N/A -14.2% 10.3% N/A
2019 N/A -9.7% 24.0% N/A

RAYE - Holdings

Concentration Analysis

RAYE Category Low Category High RAYE % Rank
Net Assets 46 M 717 K 102 B 85.66%
Number of Holdings 154 7 6734 53.52%
Net Assets in Top 10 11.3 M 3.7 K 19.3 B 83.55%
Weighting of Top 10 29.02% 2.8% 71.7% 38.30%

Top 10 Holdings

  1. TAIWAN SEMICONDUCTOR MANUFAC COMMON STOCK 9.30%
  2. SAMSUNG ELECTRONICS CO LTD COMMON STOCK 6.10%
  3. KIA CORP COMMON STOCK 2.57%
  4. QUALITAS CONTROLADORA SAB CV COMMON STOCK 2.06%
  5. SOLUM CO LTD COMMON STOCK 1.80%
  6. OTP BANK PLC COMMON STOCK 1.55%
  7. SANLAM LTD COMMON STOCK 1.54%
  8. POWSZECHNY ZAKLAD UBEZPIECZE COMMON STOCK 1.54%
  9. BIRLASOFT LTD COMMON STOCK 1.34%
  10. JINDAL STAINLESS LTD COMMON STOCK 1.23%

Asset Allocation

Weighting Return Low Return High RAYE % Rank
Stocks
96.43% 0.90% 110.97% 14.52%
Preferred Stocks
4.14% 0.00% 2.67% 65.32%
Convertible Bonds
0.00% 0.00% 7.40% 58.28%
Cash
0.00% -23.67% 20.19% 81.88%
Bonds
0.00% -0.03% 55.68% 63.93%
Other
0.00% -1.48% 9.95% 61.62%

Stock Sector Breakdown

Weighting Return Low Return High RAYE % Rank
Utilities
0.00% 0.00% 39.12% 63.95%
Technology
0.00% 0.00% 47.50% 20.00%
Real Estate
0.00% 0.00% 17.15% 80.84%
Industrials
0.00% 0.00% 43.53% 4.91%
Healthcare
0.00% 0.00% 93.26% 66.59%
Financial Services
0.00% 0.00% 48.86% 80.96%
Energy
0.00% 0.00% 26.66% 7.66%
Communication Services
0.00% 0.00% 46.62% 84.43%
Consumer Defense
0.00% 0.00% 28.13% 29.34%
Consumer Cyclical
0.00% 0.00% 48.94% 97.60%
Basic Materials
0.00% 0.00% 30.03% 23.35%

Stock Geographic Breakdown

Weighting Return Low Return High RAYE % Rank
Non US
96.16% -4.71% 112.57% 10.61%
US
0.27% -1.60% 104.72% 64.12%

RAYE - Expenses

Operational Fees

RAYE Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.86% 0.01% 2.69% 81.27%
Management Fee 0.65% 0.00% 2.00% 18.76%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.85% N/A

Sales Fees

RAYE Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

RAYE Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.40% 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.

RAYE Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 190.00% N/A

RAYE - Distributions

Dividend Yield Analysis

RAYE Category Low Category High RAYE % Rank
Dividend Yield 1.48% 0.00% 13.22% 49.23%

Dividend Distribution Analysis

RAYE Category Low Category High Category Mod
Dividend Distribution Frequency None Annually Quarterly Annually

Net Income Ratio Analysis

RAYE Category Low Category High RAYE % Rank
Net Income Ratio N/A -1.98% 17.62% N/A

Capital Gain Distribution Analysis

RAYE Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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RAYE - Fund Manager Analysis

Managers

Jason Hsu


Start Date

Tenure

Tenure Rank

Dec 15, 2021

0.46

0.5%

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.

Mark Schlarbaum


Start Date

Tenure

Tenure Rank

Dec 15, 2021

0.46

0.5%

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.

Vivek (Vish) Viswanathan


Start Date

Tenure

Tenure Rank

Dec 15, 2021

0.46

0.5%

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.

Phillip Wool


Start Date

Tenure

Tenure Rank

Dec 15, 2021

0.46

0.5%

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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 33.71 6.43 13.42