RAYC Fees and Costs — Rayliant Quantamental China Equity ETF
Data updated: 2025-12-12
The net expense ratio is 0.80%: a 0.60% management fee plus 0.74% other expenses, less a 0.54% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $129K in broker commissions, 0.5750% of average net assets, and portfolio turnover was 169%.
RAYC Fees and Expenses
Annual operating expenses and sales charges of RAYC. Prospectus, as of January 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | — |
| Other expenses | 0.74% |
| Gross expense ratio | 1.34% |
| Fee waiver | −0.54% |
| Net expense ratio | 0.80% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
RAYC Costs Over Time
On $10,000 invested in RAYC, assuming 5% a year before costs, total costs come to $854 over 5 years, cutting the return by 1.44% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.80%) | $84 | $261 | $451 |
| Trading costs (broker commissions) | $60 | $188 | $324 |
| Lost growth on money paid in costs | $0 | $22 | $79 |
| Total costs | $144 | $471 | $854 |
| Value after costs | $10,356 | $11,105 | $11,909 |
| Impact on return, per year | 1.44% | 1.44% | 1.44% |
RAYC Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.5750%
- Total broker commissions: $129K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 169%
- Securities lending: none during the year
RAYC Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BTIG | $98K | 76.22% |
| AVIATE GLOBAL | $21K | 16.18% |
| INTERACTIVE BROKERS LLC | $10K | 7.60% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.