RAYC

Rayliant Quantamental China Equity ETF

RAYC is an actively managed portfolio of Chinese stocks selected and weighted based on a combination of quantitative and fundamental, quantamental, proprietary research.


Emerging Market

EQUITY

Active

MANAGEMENT STYLE

80 bp

EXPENSES

$33.1 M

ASSETS UNDER MGMT

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorRayliant Investment Research
CategoryEmerging
Asset classEquity
Websitelink...
Inception dateDec 31, 2020
Assets (mns)$33
Expense ratio80 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsAnnually
Taxation1099
Stock selectionProprietary
WeightingProprietary
Holdings TransparencyFull
Derivatives-basedNo
Options availableNo
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings
KWEICHOW MOUTAI CO LTD-A 5.4 %
PING AN INSURANCE (GROUP) COMPANY OF CHI 4.2 %
SHENZHEN MINDRAY BIO-MEDICAL ELECTRONICS 3.5 %
CONTEMPORARY AMPEREX TECHNOLOGY CO., LTD 3.0 %
MIDEA GROUP CO. LTD. CLASS A 2.7 %
BYD CO LTD -A 2.3 %
CHINA MERCHANTS BANK -A 2.2 %
WEICHAI POWER CO LTD-A 2.1 %
WULIANGYE YIBIN CO LTD-A 2.0 %
CHINA STATE CONSTRUCTION -A 1.9 %
Constituent Breakdown
Number of holdings153
Herfindahl-Hirschman Index 155
Wgt avg mkt cap (mns)$51,423
Large cap (>$10bn)72.1%
Mid cap ($2-10bn)24.1%
Small cap (<$2bn)3.8%
Developed mkts.6.1%
Emerging mkts.93.9%
Country Exposure
CHINA 97.2 %
Historical Performance


Standardized Performance (as of 06/30/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 3.3% -9.6% -20.5% -19.8% -- -- -18.1%
Volatility 18.1% 17.6% 19.6% 21.2% -- -- --
Market Correlations
versus...BetaR-squared
S&P 5000.234%
MSCI EAFE0.4312%
MSCI Emg Mkts0.7436%
Liquidity Measures
Avg. volume (000)9
Turnover0.4%
Avg. Bid/Ask (% of price)0.27%
ADV of underlying (mns)$16,065
Technical Indicators
Recent close$13.51
30d moving avg.$14.00
Annualized volatility21.9%
Relative strength (RSI)48
Short interest (ETF)1.4%
Short interest (underlying)0.0%
Distributions
Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial

Risk and Returns: RAYC vs. Comps (1 YR)

Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.

Content on this tab for Individual & Professional subscribers only. Start your FREE trial

Results & Estimates
  2019 2020 2021 2022 2023 2024E 2025E  
Sales per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Earnings per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Dividends per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Book value per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates

Content on this tab for Individual & Professional subscribers only. Start your FREE trial

Valuation Metrics
  2023 2024E Fwd Est 2025E
Price-to-sales --x --x --x --x
Price-to-earnings --x --x --x --x
Price-to-cash flow --x --x --x --x
Price-to-growth --x --x --x --x
Price-to-book value --x --x --x --x
Yield --% --% --x --%
1.0 10.6 1.5 3.3% --
Based on closing prices from 7/18/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
RAYC



Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.

Some content on this tab for Individual & Professional subscribers only. Start your FREE trial

ETF Research Center Fund Rating

Our measure of an ETF's overall investment merit

ALTAR Score™

RAYC

8.6%

Cat. Avg

7.3%

Fund Category: Emerging

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™8.6%
Recommendation

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

Category Overview
There are 161 funds in the Emerging category, with an average ALTAR Score™ of 7.3% and a standard deviation of 3.8%. RAYC's ALTAR Score™ is approximately 0.3 standard deviations above the category average. This places RAYC in the 63rd percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
RAYC
Peer Average
SELL
U/W
HOLD
O/W
BUY



Recent Trends


Breakdown
Expense Analysis

Peer Group Active
Emerging Market Equity ETFs
# of ETFs 22
Avg. Expense Ratio 60.3 bp
Std. Deviation 21.7 bp
RAYC (80 bp) Percentile rank 82
Peer Group Expense Ratio Distribution


Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
RAYC 80.0 27.1 107.1
Peer Avg. 63.4 34.5 98.0
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .