The Rayliant Quantitative Developed Market Equity ETF is designed to invest predominantly in the stock market of advanced economies. As a standard practice, the fund allocates at least 80% of its total capital, including any leveraged assets, to equity instruments of companies operating within these established markets. The Adviser considers a company to be a developed market entity if it is either incorporated in, or primarily conducts its business activities within, a country classified as a developed market.