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A Founder's Journey: Jason Hsu

Let your experience become your expertise. Find out how growing up in Taiwan provided Jason with unique perspective that informs his investment decisions today.

Rayliant's PM team has navigated 30 years of booms & busts—and have been toughened, softened and enlightened by four lifetimes' worth of humble pie.
Global Institutions

Rayliant offers scientific, disciplined systematic strategies for EM, EAFE and US equities and is a minority-owned, -operated, and -governed investment manager. We apply a collaborative approach to working with global institutions.

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Outsourced CIO

Meeting the expectations of high-net-worth clients requires expertise and precision. Our institutional-quality outsourced investment office helps advisors enhance their investment offering, deepen client engagement, and position their practice for growth.

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Exchange-Traded Funds

Rayliant’s Quantamental ETFs express fundamental ideas through big data and quantitative models to actively trade stocks in markets around the world. Our strategies are intended for investors seeking to mitigate home country bias through active exposure to both international and emerging markets.

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Media & Events

Rayliant's team of experts is regularly sought out by the media to help investors understand what’s happening in global markets and economies.

July 02, 2025

Barron’s: The U.S. Has a Debt Problem. How ‘Financial Repression’ Could Help Solve It.

Phillip Wool believes there isn’t a coordinated effort to artificially inflate Treasury demand.

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Disclosure: The opinions do not necessarily reflect the views of Rayliant Investment Research and are subject to change without notice. This material is for informational purposes only and should not be considered investment advice.

June 24, 2025

The Lead-Lag Report: Phillip Wool—Time for Emerging Markets to Melt Up?

Phillip Wool discusses stocks, investing, emerging markets, and more.

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Disclosure: 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. Past performance is not indicative of future results. Indices cannot be invested in directly and are unmanaged. The opinions contained herein are subject to change without notice. The views expressed herein are those of the author and do not necessarily reflect the views of Rayliant Investment Research.

June 12, 2025

CNBC: China Market Rally and Hang Seng Bull Run Are Supported by Fundamentals and Sentiment: CIO

Jason Hsu notes that market concerns over Trump-era tariffs are beginning to fade.

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Disclosure: The opinions do not necessarily reflect the views of Rayliant Investment Research and are subject to change without notice. This material is for informational purposes only and should not be considered investment advice.

June 11, 2025

Reuters: US–China Trade Truce Leaves Investors None the Wiser

Phillip Wool warns that markets are overly optimistic, cautioning that recent rallies may be short-lived amid lingering uncertainty and emerging risks.

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Disclosure: The opinions do not necessarily reflect the views of Rayliant Investment Research and are subject to change without notice. This material is for informational purposes only and should not be considered investment advice.

June 10, 2025

The 9Innings Podcast: Are the US and China in a Losing Trade Battle?

Jason Hsu explores U.S.-China trade, international student contributions, digital currencies, and the challenges of investing in emerging markets.

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Disclosure: The opinions do not necessarily reflect the views of Rayliant Investment Research and are subject to change without notice. This material is for informational purposes only and should not be considered investment advice.

June 06, 2025

Bloomberg: Vanguard Set to Challenge BlackRock’s Grip on Ex-China ETF Trade

Jason Hsu says that despite a rally in Chinese equities, China remains too large and controversial to be excluded from EM portfolios, with the trade war deepening investor polarization.

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Disclosure: 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. Past performance is not indicative of future results. The opinions contained herein are subject to change without notice. The views expressed herein are those of the author and do not necessarily reflect the views of Rayliant Investment Research.

June 03, 2025

Yahoo Finance: 6 Wall Street Veterans Share the Best Trades They’ve Every Made

Jason Hsu capitalized on the GameStop short squeeze by betting against the stock just after Melvin Capital’s collapse, acknowledging that while his analysis matched theirs, his lucky timing—being late—was what led to his success.

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Disclosure: 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. Past performance is not indicative of future results. The opinions contained herein are subject to change without notice. The views expressed herein are those of the author and do not necessarily reflect the views of Rayliant Investment Research.

June 02, 2025

Reuters: Vanguard Files for New ex-China Emerging Markets ETF

Jason Hsu believes China is too large and controversial to be lumped in with other emerging markets, arguing that both dedicated China ETFs and ex-China products should coexist in investor portfolios.

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Disclosure: The opinions do not necessarily reflect the views of Rayliant Investment Research and are subject to change without notice. This material is for informational purposes only and should not be considered investment advice.

Experienced, Minority-led Investment Team

Award-Winning Research

4 Graham & Dodd Awards
3 Bernstein Fabozzi/Jacobs Levy Awards
3 William F. Sharpe Awards

Seasoned Portfolio Management

Average Investment Experience: 20 Years
Former team at PIMCO & Research Affiliates

Quantitative Research Expertise

Average Research Experience: 8 Years
Team includes PhDs, CFAs, & MFEs

50+ Papers

Leading journals on factor investing, machine learning, portfolio construction, and alpha decay

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