RAYD
Rayliant Quantitative Developed Market Equity ETF
RAYD is an actively managed portfolio of developed market equities that are selected and weighted with the aid of quantitative data models.
International
EQUITY
Active
MANAGEMENT STYLE
61.2 M
ASSETS UNDER MGMT
80 bp
EXPENSES
Fund Basics
| Fund sponsor | Rayliant Investment Research |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Dec 16, 2021 |
| Assets (mns) | $61 |
| Expense ratio | 80 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| NVIDIA CORP | 6.9 % |
| APPLE INC | 5.3 % |
| MICROSOFT CORP | 4.8 % |
| AMAZON.COM INC | 2.9 % |
| ALPHABET INC. CLASS A | 2.4 % |
| COSTCO WHOLESALE CORP | 2.3 % |
| SHELL PLC | 2.3 % |
| BOOKING HOLDINGS INC. | 1.8 % |
| ELI LILLY & CO | 1.7 % |
| MASTERCARD INCORPORATED CLASS A | 1.7 % |
Constituent Breakdown
| Number of holdings | 181 |
| Herfindahl-Hirschman Index | 178 |
| Wgt avg mkt cap (mns) | $597,400 |
| Large cap (>$10bn) | 93.1% |
| Mid cap ($2-10bn) | 4.9% |
| Small cap (<$2bn) | 1.7% |
| Developed mkts. | 98.5% |
| Emerging mkts. | 1.5% |
Country Exposure
 |
UNITED STATES | 64.2 % |
 |
BRITAIN | 7.2 % |
 |
SWITZERLAND | 4.1 % |
 |
JAPAN | 3.6 % |
 |
GERMANY | 2.4 % |
 |
FRANCE | 2.2 % |
 |
SWEDEN | 1.8 % |
 |
LUXEMBOURG | 1.4 % |
 |
HONG KONG | 1.4 % |
 |
NETHERLANDS | 1.3 % |
Historical Performance
Standardized Performance (as of 08/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 18.7% | 23.4% | 16.9% | -- | -- | -- | 11.2% | Volatility | 11.4% | 11.1% | 15.5% | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.88 | 97% |
| MSCI EAFE | 0.79 | 76% |
| MSCI Emg Mkts | 0.54 | 36% |
Liquidity Measures
| Avg. volume (000) | 5 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.37% |
| ADV of underlying (mns) | $101,142 |
Technical Indicators
| Recent close | $29.14 |
| 30d moving avg. | $29.78 |
| Annualized volatility | 16.4% |
| Relative strength (RSI) | 67 |
| Short interest (ETF) | 0.0% |
| 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
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. RAYD |
Expenses vs. RAYD |
ALTAR Score™ vs. RAYD |
|---|---|---|---|---|
| FLQL | Franklin LibertyQ U.S. Equity ETF | 38.4% | -65 bp | +2.0% |
| OMFL | Invesco Russell 1000 Dynamic Multifactor ETF | 38.3% | -51 bp | +0.4% |
| MGC | Vanguard Mega Cap ETF | 38.1% | -73 bp | +1.0% |
| IWL | iShares Russell Top 200 ETF | 38.1% | -65 bp | +0.9% |
| USCA | Xtrackers MSCI USA Climate Action Equity ETF | 37.4% | -73 bp | +1.2% |
| MMTM | SPDR S&P 1500 Momentum Tilt ETF | 37.4% | -68 bp | +0.7% |
| ESGU | iShares ESG Aware MSCI USA ETF | 37.2% | -65 bp | +1.2% |
| IWF | iShares Russell 1000 Growth ETF | 37.1% | -61 bp | +0.6% |
| SPXE | ProShares S&P 500 Ex-Energy ETF | 37.1% | -71 bp | +1.0% |
| USCL | iShares Climate Conscious & Transition MSCI USA ETF | 37.1% | -72 bp | +1.2% |
Risk and Returns: RAYD 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 | --% |
Based on closing prices from 9/6/2024
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
RAYD
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 Rating
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
ALTAR Score™
RAYD
4.1%
Cat. Avg
7.4%
ALTAR Score™ Calculation
Category Overview
There are 256 funds in the International Equity category, with an average ALTAR Score™
of 7.4% and a standard deviation of
2.7%. RAYD's ALTAR Score™ is approximately
1.2 standard deviations
below
the category average. This places RAYD in the 11st percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
RAYDSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active International Equity ETFs |
| # of ETFs | 38 |
| Avg. Expense Ratio | 56.2 bp |
| Std. Deviation | 24 bp |
| RAYD (80 bp) Percentile rank | 84 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| RAYD | 80.0 | 37.0 | 117 |
| Peer Avg. | 64.4 | 32.3 | 96.7 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .