RWLC vs. RAYJ

Last updated Aug 2, 2026

RWLC (Rayliant Wilshire NxtGen US Large Cap Equity ETF) and RAYJ (Rayliant SMDAM Japan Equity ETF) are both exchange-traded funds - RWLC is a Large Cap Blend Equities fund tracking the S&P 500, while RAYJ is a Japan Equities fund actively managed by Rayliant. RWLC is passively managed, while RAYJ is actively managed. RWLC charges 0.32%/yr vs 0.72%/yr for RAYJ.

Performance

RWLC vs. RAYJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rayliant Wilshire NxtGen US Large Cap Equity ETF (RWLC) and Rayliant SMDAM Japan Equity ETF (RAYJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

RWLC

• 1D: 0.44%
• 1M: 1.79%
• 6M: 12.19%
• YTD: 13.66%
• 1Y: 20.00%
• 3Y*: 22.21%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.43%

RAYJ

• 1D: 0.00%
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
RAYJ Rayliant SMDAM Japan Equity ETF	$0.00	$0.00	$0.00
RWLC Rayliant Wilshire NxtGen US Large Cap Equity ETF	$304.58K	$332.22K	$297.28K

RWLC vs. RAYJ - Yearly Performance Comparison

	2026 (YTD)
RWLC Rayliant Wilshire NxtGen US Large Cap Equity ETF	0.44%
RAYJ Rayliant SMDAM Japan Equity ETF	0.00%

RWLC vs. RAYJ - Sectors Allocation Comparison

Sectors	RWLC	RAYJ
Technology	41.4%	22.8%
Financial Services	13.2%	9.7%
Healthcare	12.5%	3.5%
Consumer Cyclical	9.0%	21.0%
Communication Services	8.5%	3.1%
Energy	5.6%	-
Consumer Defensive	4.4%	0.9%
Basic Materials	2.1%	10.1%
Industrials	1.1%	27.6%
Utilities	0.9%	-
Real Estate	0.8%	1.4%

Return for Risk

RWLC vs. RAYJ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

RWLC

RWLC Risk / Return Rank: 54
RWLC Sharpe Ratio Rank: 51
RWLC Sortino Ratio Rank: 56
RWLC Omega Ratio Rank: 51
RWLC Calmar Ratio Rank: 55
RWLC Martin Ratio Rank: 59

RAYJ

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

RWLC vs. RAYJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rayliant Wilshire NxtGen US Large Cap Equity ETF (RWLC) and Rayliant SMDAM Japan Equity ETF (RAYJ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	RWLC	RAYJ	Difference
Sharpe ratio: Return per unit of total volatility	1.26	—	—
Sortino ratio: Return per unit of downside risk	1.95	—	—
Omega ratio: Gain probability vs. loss probability	1.23	—	—
Calmar ratio: Return relative to maximum drawdown	1.98	—	—
Martin ratio: Return relative to average drawdown	7.14	—	—

Drawdowns

RWLC vs. RAYJ - Drawdown Comparison

The maximum RWLC drawdown since its inception was -21.00%, which is greater than RAYJ's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for RWLC and RAYJ.

Drawdown Indicators

	RWLC	RAYJ	Difference
Max Drawdown Largest peak-to-trough decline	-21.00%	0.00%	-21.00%
Max Drawdown (1Y) Largest decline over 1 year	-9.33%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-16.20%	—	—
Current Drawdown Current decline from peak	-0.17%	0.00%	-0.17%
Average Drawdown Average peak-to-trough decline	-5.29%	0.00%	-5.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.59%	—	—

Volatility

Volatility by Period

	RWLC	RAYJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.64%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.01%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.65%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.42%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.42%	—	—

RWLC vs. RAYJ - Expense Ratio Comparison

RWLC has a 0.32% expense ratio, which is lower than RAYJ's 0.72% expense ratio.

Dividends

RWLC vs. RAYJ - Dividend Comparison

RWLC's dividend yield for the trailing twelve months is around 12.92%, while RAYJ has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
RAYJ Rayliant SMDAM Japan Equity ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RWLC Rayliant Wilshire NxtGen US Large Cap Equity ETF	12.92%	14.69%	0.98%	1.63%	1.39%	0.01%

Frequently Asked Questions

Which ETF is better, RWLC or RAYJ?

On fees, RWLC is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RWLC or RAYJ?

RWLC is cheaper with a 0.32% expense ratio, compared with 0.72% for RAYJ.

Which ETF pays a higher dividend yield, RWLC or RAYJ?

RWLC has the higher dividend yield at 12.92%, compared with 0.00% for RAYJ.

What is the main difference between RWLC and RAYJ?

RWLC is categorized as Large Cap Blend Equities, while RAYJ is Japan Equities. Their fees differ too: 0.32% for RWLC and 0.72% for RAYJ.