ETF Evaluator:
Rayliant-ChinaAMC Trnsfrmtv Chn Tech ETF ()
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(as of Aug 26)
Best Performing in Greater China Region Over the Last Year
| 76.6% | Franklin FTSE Taiwan ETF (FLTW) |
| 70.4% | iShares MSCI Taiwan ETF (EWT) |
| 64.0% | KraneShares CHN Tech & Semicon STAR50ETF (KSTR) |
| 55.2% | VanEck ChiNext Innovators ETF (CNXT) |
| 42.4% | Neuberger China Equity ETF (NBCE) |
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ETF Details
Rayliant-ChinaAMC Trnsfrmtv Chn Tech ETF Overview
Rayliant-ChinaAMC Trnsfrmtv Chn Tech ETF (CNQQ) is a passively managed International Equity Greater China Region exchange-traded fund (ETF). Rayliant launched the ETF in 2025.
The investment seeks to track the investment results (before fees and expenses) of the Solactive ChinaAMC Transformative China Tech Index.
The fund generally will invest at least 80% of its total assets in securities that comprise the underlying index, as well as participatory notes that represent securities in the index. The underlying index will then select the top 300 eligible constituents based on their total market capitalization ranked in descending order. The fund is non-diversified.
About Rayliant-ChinaAMC Trnsfrmtv Chn Tech ETF (CNQQ)
There are 2 members of the management team with an average tenure of 0.85 years: Jason Hsu (2025) and Phillip Wool (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: SolactiveChinaAMC TransfChinaTech TR USD index with a weighting of 100%. Rayliant-ChinaAMC Trnsfrmtv Chn Tech ETF has 104 securities in its portfolio. The top 10 holdings constitute 46.5% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Rayliant-ChinaAMC Trnsfrmtv Chn Tech ETF is part of the Equity global asset class and is within the International Equity ETF group. Rayliant-ChinaAMC Trnsfrmtv Chn Tech ETF has 99.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.2% There is 99.4% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Rayliant-ChinaAMC Trnsfrmtv Chn Tech ETF has 0.4% of the portfolio in cash.
Assets Under Management
The fund has $47 million in total assets, which is below the $1 billion average for the Greater China Region category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
CNQQ Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Rayliant-ChinaAMC Trnsfrmtv Chn Tech ETF expense ratio is above average compared to funds in the Greater China Region category. Rayliant-ChinaAMC Trnsfrmtv Chn Tech ETF has an expense ratio of 0.75%, which is 15% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Rayliant-ChinaAMC Trnsfrmtv Chn Tech ETF has a portfolio turnover rate of 1%, which indicates that it holds its assets around / 1.0 years. By way of comparison, the average portfolio turnover is 56% for the Greater China Region category.
Recently, in the month of July 2026, Rayliant-ChinaAMC Trnsfrmtv Chn Tech ETF returned -11.6%, which earned it a grade of D, as the Greater China Region category had an average return of -0.9%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Rayliant-ChinaAMC Trnsfrmtv Chn Tech ETF has a trailing yield of 0.00%, which is below the 3.41% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Rayliant-ChinaAMC Trnsfrmtv Chn Tech ETF Grades
Year to date, the ETF has returned 1.6%, 0.5 percentage points worse than the category, which translates into a grade of B.
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CNQQ Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| CNQQ Return (NAV) | -11.6% | -1.1% | na | na | na | na |
| CNQQ Return (Price) | -12.1% | -2.6% | na | na | na | na |
| NAV +/- Price Return | 0.485% | 1.489% | na | na | na | na |
| Greater China Region Avg | -0.9% | -2.5% | 14.5% | 8.6% | -1.6% | 5.1% |
| CNQQ Grade (NAV) | D | C | na | na | na | na |
| +/- Category (NAV) | -10.7% | 1.4% | na | na | na | na |
| CNQQ Tax-Cost Ratio | na | na | na | na | na | na |
CNQQ Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| CNQQ Return (NAV) | 1.6% | na | na | na | na | na | na | na | na | na | na |
| CNQQ Return (Price) | 1.5% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.080% | na | na | na | na | na | na | na | na | na | na |
| Greater China Region Avg | 2.2% | 30.4% | 11.2% | -10.5% | -25.1% | -7.2% | 42.8% | 26.9% | -22.9% | 45.1% | -6.2% |
| CNQQ Grade (NAV) | B | na | na | na | na | na | na | na | na | na | na |
| +/- Category | -0.5% | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | -- |
| Total Assets: | $ 48 Mil |
| Share Class Assets: | $ 48 Mil |
| Turnover: | 1.0% |
| Expense Ratio: | 0.75% |
| Index Fund: | Yes |
| Index Tracked: | SolactiveChinaAMC TransfChinaTech TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 0.9 years | |||
| Average Tenure: 0.9 years | |||
| Managers (Year): Hsu Jason (2025), Wool Phillip (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 104 |
| % in Top 10 Holdings: | 46.5% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 99.4% |
Portfolio Allocation |
|
| Domestic Stock: | 0.2% |
| Foreign Stock: | 99.4% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.4% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Rayliant |
| Phone Number: | 866-949-4945 |
| Website: | |
| Inception Date: | September 24, 2025 |
Expenses and Fees
| Expense Ratio (%): | 0.75% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.65% |
