Rayliant NxtGen Multifactor US Equity ETF selects U.S. shares using several quantitative signals. Company dividends bring some cash, while stock selection and realized gains can be much larger drivers of distributions and value. The fund changed from index tracking to active management on April 10, 2026, then revised its investment policy around June 9. Earlier results remain useful history, but they are not a run of results under today's approach.
Business
U.S. multifactor equity ETF
Listing
RWLC · NYSE Arca
Reporting period
2026-03-31
Dividend schedule
Annual
How the business works
Portfolio dividends after expenses become net investment income. Realized gains, losses and changing stock prices affect distributions and net asset value separately.
Extras are shown separately and are not assumed to repeat.
Reported earnings
Each measure shown separately, per share
Net investment income$0.14
Oct 1, 2025 to Mar 31, 2026
$0.00$0.14
Distribution yield12.63%Sourced distributions divided by dated market priceTrailing 12-month income yieldNot availableA complete 12-month reported net investment income figure and dated market price are needed.Trailing 12-month distributions$4.88Recorded recurring payments per share, not a forecast
Dividend payment history
Date or month
Per share
Jan 7, 2026
$0.22
Jan 7, 2026
$4.6561 (Special)
Reported earnings and sources
Reported earnings for the latest four periods. Compare the same earnings measure across periods; different measures are not added together.
Cash distributions are the total paid per share during each reporting period, including any gains or return of capital. Period lengths may differ, so compare the dates before comparing amounts. Short periods are not annualized.
NAV change excludes distributions. Reported NAV total return includes reinvestment and is copied from the fund statement, not estimated by adding cash distributions to the NAV change.
Why the annual trend is limited
RWLC changed from index tracking to active management on April 10, 2026, then revised its investment policy around June 9. Fiscal 2023 to 2025 and the March 2026 half-year belong to the earlier approach. The latest NAV is a dated current observation, not a complete post-change report, so no line joins the old and new regimes.
Fund net investment income per common share; actual reporting period, not annualized$0.1400
Total cash distributions in the same period$4.8800
$0.00$4.90
For the six months ended March 31, 2026, RWLC reported $0.14 of net investment income and $4.88 of distributions per share. Net asset value fell from $37.90 to $31.98. Ordinary dividend income explained little of the cash; the payment's classification and the decline in value need to be read together before judging repeatability.
Portfolio interest and dividends, realized investment results and any derivative activity contribute to distribution resources after expenses. Taxable income and cash distributions can differ from reported net investment income.
The earnings available to shareholders depend on the cash generated by these activities after operating and financing costs. Portfolio gains, financing proceeds and recurring income should be evaluated separately.
Rayliant NxtGen Multifactor US Equity ETF reported $0.1400 per share for 2025-10-01 to 2026-03-31, measured as Fund net investment income per common share; actual reporting period, not annualized.
Actual per-share reporting period, without annualisation. Net investment income, realized gains, unrealized changes and cash distributions are different measures. This comparison is not the Fly High forward Dividend Coverage Ratio.
Income and capital are exposed to equity-market losses, allocation decisions and variable capital-gain distributions.
Watch for changes in the underlying exposure and the next reported results before treating the current payment as evidence of continuing earnings support.
Payments can change and can include gains or return of capital. A high trailing yield does not establish earnings coverage or total return.
Watch for changes in the underlying exposure and the next reported results before treating the current payment as evidence of continuing earnings support.
Compare the next like-length stock result and cash paid with realized gains, payment components and net asset value.
Net asset value (NAV)
NAV per share$38.46Sep 29, 2026Market price$38.50Sep 29, 2026PREMIUM / DISCOUNT TO NAV0.10% premiumCalculated from the displayed same-date values.
NAV is the fund's assets minus liabilities, divided by shares outstanding. All values are USD per share.
Fund reported NAV and market price, both dated 2026-09-29. The premium or discount is calculated from these two reported values. Older audited NAV history remains unchanged.
Compare the next like-length stock result and cash paid with realized gains, payment components and net asset value.
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U.S. federal
Dividend tax treatment
RWLC has changed its name and investment approach. Older reports belong to the earlier version of the fund, so they deserve context before we use them to describe a current holding. We can follow the 2025 payment trail, but we do not yet have a matching full-year tax split for this exact fund and year.
