Rayliant

Rayliant CIO Jason Hsu will join the @societysandiego International Equity Symposium on April 21. The discussion will span global equities across Greater China, India, EMEA, and frontier markets, including where investors may find inefficiencies, value, and potential value traps in international markets. Jason will be joined by: • Kevin T. Carter – EMQQ Global • Elliott Plotkin, CFA – Kopernik Global Investors Moderated by: • Lawrence S. Speidell, CFA – Frontier Global Advisors 👉 Register here: bit.ly/CFASanDiegoApr… 📅 April 21,2026 🕓 4:30 – 7:00 PM PST 📍 San Diego If you’re in the San Diego area, we’d love to see you there. #InternationalEquities #GlobalMarkets #EmergingMarkets #CFA #Investing

Why are Chinese consumers embracing “blind box” products? According to Rayliant CIO @hsu_jason, the appeal goes beyond collectibles. The blind box phenomenon shows how Chinese consumer behavior is shifting toward brands that create emotional engagement and experiential retail. In a recent @CNBC interview, Jason discussed how this trend has been central to Pop Mart’s success—and what it may signal about the evolving dynamics of China’s consumer market. Watch the full conversation: cnb.cx/4m4Fa10 #popmart #blindbox #chinamarket #emergingmarkets Disclosure: For informational purposes only. This content does not constitute investment advice or a recommendation to buy or sell any security. Views expressed are those of the speaker as of the date indicated and are subject to change.

What’s driving Japan’s equity market right now? Strong corporate earnings and policy optimism have helped support Japan’s stock market, but investors are also watching geopolitical risks, energy prices, and global financial stability. In our latest Japan market commentary, our Japan partner, Sumitomo Mitsui DS Asset Management shares insights on the key drivers behind recent market performance and what investors may want to watch next. Learn more about Rayliant’s #Japan investment strategy: funds.rayliant.com #JapanMarkets #GlobalInvesting #MarketInsights

Unboxing QQbubu! Innovation in Asia doesn’t only come from technology companies. In this video, Rayliant Founder and CIO, Jason Hsu, discusses the rise of #PopMart and the global #Labubu phenomenon — an example of how intellectual property, design, and consumer culture are becoming powerful forces across Asian markets. From Japanese anime to Korean pop culture and now Chinese creative brands, the evolution of global cultural exports reflects broader economic and innovation trends across the region. Jason also opens a QQBuBu #BlindBox. The #QQBuBu series includes seven characters, each representing a sector represented in the #CNQQ ETF. 🎁 We’re also giving away 10 QQBuBu blind boxes! 🎁 Comment below if you’d like one and we’ll reach out. This content is for informational purposes only and does not constitute investment advice. PopMart is currently a holding of the CNQQ ETF. Holdings are subject to change and should not be construed as a recommendation to buy or sell any security. Investing in CNQQ involves risks, including those associated with China and emerging markets. Jason Hsu is Portfolio Manager of CNQQ and has a financial interest in the fund. The QQbubu giveaway is not conditioned on or related to any investment in CNQQ or any Rayliant product. For more information visit funds.rayliant.com/cnqq/

How are institutional investors thinking about markets right now? @hsu_jason will be discussing this question in an upcoming Office Hours webinar hosted by @Sowell_Mgmt, where he’ll share perspectives on #GlobalMarkets, portfolio positioning, and the macro forces shaping today’s investment environment. The session will explore how institutional investors are navigating uncertainty and thinking about portfolio strategy in 2026. 📅 March 12 | PM CT Register here: lnkd.in/gD2tmNSq #Markets #Investing #ETF #OCIO #AssetAllocation

How could the #Iran conflict affect Asian markets and global tech stocks? Rayliant Chairman and CIO @hsu_jason joined @CNBC to discuss how escalating tensions in the #MiddleEast could ripple through global markets. Asia’s economies remain highly dependent on imported oil, meaning disruptions to Middle East supply could create economic headwinds. However, Jason notes that equity markets in the region are increasingly driven by technology and AI-related sectors, which may be somewhat less sensitive to energy shocks. Jason also highlights South Korea as a recent outlier, where volatility has been amplified by profit-taking after a strong semiconductor-led rally. ➡️ Watch the full interview on CNBC: cnb.cx/4rYGZi9 #Geopolitics #AsiaMarkets #GlobalMarkets

Why are investors pouring record amounts into European equities? One reason is valuation. European stocks currently trade at significantly lower earnings multiples than U.S. #equities, and strong performance in 2025 has renewed investor interest in the region. However, lower valuations may also reflect longer-term structural challenges, including slower growth and demographic pressures. As a result, some investors view #Europe less as a broad allocation shift and more as an opportunity to selectively identify companies with global revenue exposure. In this week’s Perspectives, Henderson Rowe's CIO Ben Ashby explores what recent inflows into European equities may signal—and what investors should consider before increasing exposure. ➡️ Read more: bit.ly/4aJk1pg #Investing #GlobalMarkets #AssetAllocation #OCIO

Chief Researcher Officer Phil Wool joined @CNBC to discuss Japan’s pledge to invest nearly $36 billion in U.S. #energy and critical minerals projects — and what it could mean for U.S. – #Japan relations and broader #geopolitical positioning relative to #China. He highlights the balancing act Tokyo faces: maintaining strong ties with Washington while navigating domestic political sensitivities. Watch the full interview here: bit.ly/3N1vwiG For investors following Japan’s evolving role in global markets, learn more about Rayliant’s Japan strategy at funds.rayliant.com.

Markets have grown increasingly confident that 2026 will bring meaningful #Fed easing. Futures pricing now suggests three or more rate cuts are viewed as more likely than not — a notable shift since the start of the year. But expectations can evolve quickly, especially as new #inflation, labor, and policy data emerge. In this week’s #Perspectives, Chief Researcher Officer Phil Wool examines what current market pricing reflects and the factors that could influence the Fed’s path in 2026. Read more: bit.ly/3OtA2qF

Rayliant CIO @hsu_jason recently joined @practicalquant on the @excessreturnpod podcast for a wide-ranging conversation on what investors may be missing about #China and the evolving global landscape. Hear Jason's insights on: • China’s domestic competitive dynamics • U.S. vs. China #AI strategy • Emerging markets allocation • Factor investing in less efficient markets • How machine learning is reshaping quantitative investing If you’re thinking about portfolio construction in a world shaped by U.S.–China competition and technological change, this episode offers thoughtful perspective. ➡️ Watch the Excess Returns Podcast: bit.ly/3OvLTVf Also available on these platforms: Apple Podcasts podcasts.apple.com/us/podcast/the… Spotify open.spotify.com/episode/73ZsUm… YouTube youtu.be/u4eol0qCCrg #EmergingMarkets #FactorInvesting #GlobalMarkets The securities identified and described do not represent all of the securities purchased, sold or recommended for client accounts. The reader should not assume that an investment in the securities identified was or will be profitable. This podcast contains opinions that do not necessarily reflect those of Rayliant Investment Research. The opinions reflected herein are subject to change without notice. Investing involves risk, including loss of principal. Investing in emerging markets involves higher risks than investing in developed markets, including increased volatility and the potential for significant price fluctuations, which may also impact liquidity. Lower levels of regulatory oversight and less transparent financial systems may increase investment risk. AI-related investments may be highly volatile as valuations can fluctuate significantly based on technology developments, completive pressures and market sentiments. Rapid technological change could render certain AI products or companies obsolete, which could negatively impact investment values. Dependence on data availability, infrastructure and cybersecurity may expose AI companies to operational risks, including data breaches or system failures.

Happy Lunar New Year from all of us at Rayliant! Wishing you a prosperous Year of the Horse. #lunarnewyear #Chinesenewyear #theyearofthehorse #etf

When political pressure meets monetary policy, history suggests the consequences tend to show up later—and often in markets. This week’s #Perspectives looks at what past episodes of “sympathetic” central banking can teach investors about inflation, asset prices, and why short-term support can lead to longer-term instability. Read the full piece in our latest Perspectives: bit.ly/4qSMkaa

Today’s geopolitical headlines can feel overwhelming. But when viewed through a longer historical lens, current #geopolitical risk remains well below the extremes seen during major global conflicts of the past century. In this issue of #Perspectives, we look at how markets have historically responded to geopolitical shocks — and why reacting to headline risk has often proven less effective than maintaining a disciplined, long-term approach. Read the full analysis in Perspectives: bit.ly/4q5GgKp #Geopolitics #MarketPerspective #RiskManagement #etf

Join us in wishing a very happy birthday to Rayliant’s Founder and Chairman, @hsu_jason 🎉 A leader, thinker, and teammate, Jason’s vision, intellectual rigor, and commitment to innovation continue to shape our firm and inspire our team. We’re grateful for the moments captured here—and for many more still ahead. Happy Birthday, Jason!

Being the world’s reserve #currency is often framed as an advantage. But history suggests it can carry hidden costs. In this Rayliant Perspectives, we explore how reserve-currency status can reshape an economy—and why central banks’ quiet actions may be telling a deeper story about long-term structural change. Read the full analysis: bit.ly/49y533C

Markets often react to more than just the Fed’s decisions. In a recent Rayliant Perspectives article, we look at how Jerome Powell’s tone and language—measured using quantitative sentiment analysis—can shape market expectations alongside formal policy moves. As uncertainty around the Fed’s path persists, communication remains a powerful signal. Read the full analysis: bit.ly/45jjNBW #FederalReserve #Macro #Markets #powell

Is China tech still a risk global investors should avoid — or a cycle being misread? Rayliant founder and CIO @hsu_jason recently joined @ChinaAMC_HQ Tech Innovation Deep Talk, alongside Richard Peng and Alain Lam, CFO, of @Xiaomi, to discuss how China’s technology sector is evolving through the lens of global investors. The conversation explored innovation, AI, EVs, and valuation — and how companies are transitioning from fast followers to true competitors on the global stage. Jason also shared the thinking behind the Rayliant-ChinaAMC Transformative China Tech ETF (NASDAQ: CNQQ), which seeks to track the Solactive ChinaAMC Transformative China Tech Index. Click the link below to watch the full conversation bit.ly/4qPN7sl Disclosure: This material is for informational purposes only and should not be construed as investment advice. Carefully consider the funds’ investment objectives, risk factors, charges, and expenses before investing. This and additional information can be found in the funds’ summary or full prospectus, which may be obtained by calling +1 (626) 407-4581 or by visiting the Rayliant funds website. Please read the prospectus carefully before investing. The Rayliant-ChinaAMC Transformative China Tech ETF is distributed by Northern Lights Distributors, LLC, Member FINRA/SIPC. The Rayliant-ChinaAMC Transformative China Tech ETF is not affiliated with Northern Lights Distributors, LLC.

As we begin 2026, we’re grateful for the partnerships and conversations that continue to shape our work. From the Rayliant Team, wishing everyone a healthy, thoughtful, and rewarding year ahead! #HappyNewYear #2026 #Rayliant