Rayliant NxtGen Multifactor International Equity ETF
(the “Fund”)
(RWIN)
a series of Rayliant Funds Trust (the “Trust”)
Supplement dated July 13, 2026
to the Statement of Additional Information (the “SAI”) of the Fund dated January 22, 2026
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Effective May 28, 2026, David B. Scott resigned as Interested Trustee, Chairman of the Board, President and Principal Executive Officer and Treasurer and Principal Financial Officer of the Trust. At a meeting of the Board of Trustees of the Trust held on May 28, 2026, Himanshu Surti was appointed Interested Trustee, Chairman of the Board, President and Principal Executive Officer and Treasurer and Principal Financial Officer of the Trust.
Accordingly, all references to Mr. Scott are deleted in their entirety and replaced as follows:
The following replaces the first sentence of the section Board Leadership Structure on page 25 of the SAI:
Board Leadership Structure
The Trust is led by Himanshu Surti, who has served as the Chairman of the Board since May 28, 2026.
The following replaces the first five paragraphs of the section Trustee Qualifications on page 25 of the SAI:
Trustee Qualifications
Generally, the Trust believes that each Trustee is competent to serve because of their individual overall merits including: (i) experience, (ii) qualifications, (iii) attributes and (iv) skills.
Himanshu Surti
Mr. Surti serves as the Chief Operating Officer and Head of ETFs for Rayliant Investment Research.
Mr. Surti has 25 years of experience in ETFs, investment and portfolio management, and engineering design and project management. Within the ETF space, Mr. Surti has led and managed the launch of 26 ETFs and managed product suites with combined net assets of over $50 billion.
He holds an MBA in Finance from the University of California, Irvine; an MS in Civil Engineering from Michigan State University; and a Bachelor’s degree in Civil Engineering from SBM Polytechnic, Mumbai.
The following replaces the corresponding table in the section Interested Trustee and Officers on page 27 of the SAI:
Interested Trustee and Officers
| Name and Year of Birth |
Position/Term of Office* |
Principal Occupation During the Past Five Years |
Number of Funds in Fund Trustee |
Other Directorships held by Trustee during the Past Five Years |
| Himanshu Surti Year of Birth: 1974 | Chairman of the Board, Trustee, President and Treasurer since 2026 |
Chief Operating Officer and Head of ETFs (since 2026); Senior Vice President and Director of ETF Product Management at Northern Trust Investments, Inc. (2020-2026)
|
2 | N/A |
| Josh Katz, CFA Year of Birth: 1973 | Secretary since 2025 | Chief Compliance Officer of Adviser (since 2025); Chief Compliance Officer of Affinity Investment Advisors, LLC (since 2020) | N/A | N/A |
| 1 |
|
James Ash Year of Birth: 1976 |
Chief Compliance Officer since 2025 |
Senior Vice President, Head of Compliance (since 2023); Senior Compliance Officer, Northern Lights Compliance, LLC (2019 – 2023) | N/A | N/A |
* The term of office for each Trustee and officer listed above will continue indefinitely until the individual resigns or is removed.
** The term “Fund Complex” applies only to the operational series of the Trust.
The following replaces the corresponding table in the section Compensation on page 28 of the SAI.
The table below details the amount of compensation the Independent Trustees are expected to receive from the Fund and the Trust for the initial fiscal year. The Trust does not have a bonus, profit sharing, pension or retirement plan.
| Name and Position | Aggregate Fiscal Year Compensation from the Fund | Pension or Retirement Benefits Accrued as Part of Fund Expenses |
Annual Benefits Upon Retirement |
Total Compensation From Fund and Fund Complex Paid to Trustees |
| Himanshu Surti | $0 | $0 | $0 | $0 |
| Laura Morrison | $* | $0 | $0 | $10,000 |
| John Hyland | $* | $0 | $0 | $10,000 |
* Since the Fund has only recently launched, no allocation of compensation is feasible.
The following replaces the section Management and Trustee Ownership on page 29 of the SAI:
Management and Trustee Ownership
As of July 1, 2026, the Trustees and officers, as a group, owned no shares of the Fund or any of the Fund Complex’s outstanding shares.
The following replaces the subsection Proxy Voting Committee Members on page A-14:
It is the responsibility of the Proxy Voting Committee to approve the Proxy Voting and Governance Policy and review it at least on an annual basis.
In case of an issue not covered by the guidelines outlined in the Policy, Client Services or Investment Operations should escalate it by sending the completed Proxy Voting Form (Appendix B) to the Committee. The Committee should review the form and provide sign-off or comments.
The Committee includes:
l Himanshu Surti – Chief Operating Officer
l Phillip Wool – Head of Investment Solutions
l Josh Katz – Head of Compliance
l Vicky Wan – Head of Investment Operations
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You should read this Supplement in conjunction with the Fund’s Prospectus, SAI and Summary Prospectus, each dated January 22, 2026, which provide information that you should know about the Fund before investing. The Fund’s Prospectus and SAI and Summary Prospectus have each been filed with the Securities and Exchange Commission and are incorporated by reference. Copies of these documents may be obtained without charge by visiting https://funds.rayliant.com or by calling (866) 949-4945.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE