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
34.8 M
ASSETS UNDER MGMT
80 bp
EXPENSES
Fund Basics
| Fund sponsor | Rayliant Investment Research |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Dec 31, 2020 |
| Assets (mns) | $35 |
| 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
| KWEICHOW MOUTAI CO LTD-A | 5.4 % |
| PING AN INSURANCE (GROUP) COMPANY OF CHI | 4.3 % |
| SHENZHEN MINDRAY BIO-MEDICAL ELECTRONICS | 3.3 % |
| CONTEMPORARY AMPEREX TECHNOLOGY CO., LTD | 3.3 % |
| MIDEA GROUP CO. LTD. CLASS A | 2.9 % |
| CHINA MERCHANTS BANK -A | 2.4 % |
| BYD CO LTD -A | 2.4 % |
| CHINA STATE CONSTRUCTION -A | 2.2 % |
| WULIANGYE YIBIN CO LTD-A | 2.0 % |
| WEICHAI POWER CO LTD-A | 1.9 % |
Constituent Breakdown
| Number of holdings | 141 |
| Herfindahl-Hirschman Index | 159 |
| Wgt avg mkt cap (mns) | $55,640 |
| Large cap (>$10bn) | 75.1% |
| Mid cap ($2-10bn) | 21.7% |
| Small cap (<$2bn) | 3.2% |
| Developed mkts. | 7.2% |
| Emerging mkts. | 92.8% |
Country Exposure
 |
CHINA | 96.3 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 13.4% | 11.6% | -7.8% | -14.9% | -- | -- | -14.0% | Volatility | 31.6% | 29.7% | 25.2% | 24.9% | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.27 | 4% |
| MSCI EAFE | 0.47 | 11% |
| MSCI Emg Mkts | 0.87 | 36% |
Liquidity Measures
| Avg. volume (000) | 68 |
| Turnover | 2.9% |
| Avg. Bid/Ask (% of price) | 0.27% |
| ADV of underlying (mns) | $17,900 |
Technical Indicators
| Recent close | $14.81 |
| 30d moving avg. | $14.79 |
| Annualized volatility | 25.0% |
| Relative strength (RSI) | 52 |
| Short interest (ETF) | 0.1% |
| 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. RAYC |
Expenses vs. RAYC |
ALTAR Score™ vs. RAYC |
|---|---|---|---|---|
| ASHR | Xtrackers Harvest CSI 300 China A-Shares ETF | 50.0% | -15 bp | -0.5% |
| KBA | KraneShares Bosera MSCI China A 50 Connect Index ETF | 43.3% | -25 bp | +0.1% |
| AFTY | Pacer CSOP FTSE China A50 ETF | 43.2% | -10 bp | +0.5% |
| CNYA | iShares MSCI China A ETF | 39.8% | -20 bp | -0.4% |
| KALL | KraneShares MSCI All China Index ETF | 24.4% | -31 bp | +0.5% |
| MCH | Matthews China Active ETF | 18.8% | -1 bp | -3.1% |
| CXSE | WisdomTree China ex-State-Owned Enterprises Fund | 17.2% | -48 bp | -2.5% |
| JCHI | JPMorgan Active China ETF | 14.9% | -15 bp | -0.7% |
| TCHI | iShares MSCI China Multisector Tech ETF | 13.6% | -21 bp | -6.7% |
| KFVG | KraneShares CICC China 5G & Semiconductor Index ETF | 10.3% | -15 bp | -4.6% |
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 | --% |
Based on closing prices from 12/20/2024
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
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 Rating
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
ALTAR Score™
RAYC
8.6%
Cat. Avg
7.9%
ALTAR Score™ Calculation
Category Overview
There are 165 funds in the Emerging Equity category, with an average ALTAR Score™
of 7.9% and a standard deviation of
4.2%. RAYC's ALTAR Score™ is approximately
0.2 standard deviations
above
the category average. This places RAYC in the 57th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
RAYCSELL
U/W
HOLD
O/W
BUY
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. | 60.7 | 26.1 | 86.8 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .