The team at a nine-year-old, quantitative boutique near Los Angeles is partnering with a 27-year-old, $423.5-billion-AUM* asset manager in China to launch an ETF on this side of the Pacific.

Jason Hsu Rayliant Investment Research Founder, Chief Investment Officer

Late last month, Jason Hsu, founder and chief investment officer of Rayliant Investment Research, and Li Yimei, CEO of China Asset Management Co., Ltd. (ChinaAMC), unveiled the launch of the Rayliant-ChinaAMC Transformative China Tech ETF (CNQQ on the Nasdaq). Newport Beach, California-based Rayliant Investment Research (dba Rayliant Asset Management) serves as investment advisor to the new fund, while Solative AQ serves as index provider.

CNQQ's inception date was September 26. The new ETF comes with an expense ratio of 75 basis points. The launch boosts Rayliant's ETF lineup to five ETFs and counting.

The PM team behind CNQQ includes Hsu and Phil Wool, chief research officer at Rayliant. The new fund is designed to track the Solactive ChinaAMC Transformative China Tech Index, which tracks about 100 Chinese- and Hong Kong-listed companies in what Li describes as "future-focused industries."

"With CNQQ, we're excited to offer a one-click way to access China's most transformative technologies. This includes not only leading internet and e-commerce platforms, but also pioneering companies in automotive, robotics, pharmaceuticals, and new energy across A-share and Hong Kong markets," Li states. "By pairing ChinaAMC's deep local expertise with Rayliant's global ETF platform, we are delivering differentiated tools to capture the opportunities driving China's future economy."

Hsu confirms CNQQ is the first ETF from the Rayliant-ChinaAMC partnership.

"CNQQ is China's Nasdaq 100, capturing tech companies that are transforming China’s economy," Hsu states. "Through CNQQ, investors will gain access to listed companies in both Hong Kong and Mainland China, which are China's versions of stocks like Google, Meta, Tesla, Apple, and OpenAI. This factor-based stock picking and weighting methodology results in a higher quality portfolio of growth stocks."

CNQQ is a non-diversified, passively managed series of Rayliant Funds Trust. The new ETF's other service providers include:

Brown Brothers Harriman & Co. (BBH) as custodian, dividend disbursing agent, shareholder servicing agent, and transfer agent;

Cohen & Co. as independent accounting firm;

Thompson Hine LLP as counsel;

Ultimus Fund Solutions, LLC as administrator and fund accountant; and

Ultimus' Northern Lights Distributors, LLC as distributor.

*As of June 30, 2025. 

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