AFMC vs. RAYD ETF Comparison

Comparison of Active Factor Mid Cap ETF (AFMC) to The Advisors' Inner Circle Fund III Rayliant Quantitative Developed Market Equity ETF (RAYD)

AFMC

Active Factor Mid Cap ETF

AFMC Description

The investment seeks to provide capital appreciation. Under normal market conditions, the fund will invest at least 80% of its net assets (including investment borrowings) in U.S.-listed equity securities issued by mid capitalization companies. The manager defines mid capitalization companies as those that, at the time of investment, have a market capitalization between the minimum and maximum market capitalization of a widely recognized index of mid capitalization companies based upon the composition of the index at the time of investment. It is non-diversified.

Grade (RS Rating)

Last Trade

$31.84

Average Daily Volume

16,300

Number of Holdings ^*

242

* may have additional holdings in another (foreign) market

RAYD

The Advisors' Inner Circle Fund III Rayliant Quantitative Developed Market Equity ETF

RAYD Description

The Advisors' Inner Circle Fund III - Rayliant Quantitative Developed Market Equity ETF is an exchange traded fund launched by The Advisors Inner Circle Fund III. The fund is managed by Rayliant Investment Research. The fund invests in public equity markets across global developed region. The fund invests in stocks of companies operating across diversified sectors. The fund invests in growth and value stocks of companies across diversified market capitalization. It invests in stocks of companies that are deemed socially conscious in their business dealings and directly promote environmental responsibility. The fund employs quantitative analysis to create its portfolio. The fund employs proprietary and external research to create its portfolio. The Advisors' Inner Circle Fund III - Rayliant Quantitative Developed Market Equity ETF is domiciled in the United States.

Grade (RS Rating)

Last Trade

$30.70

Average Daily Volume

6,413

Number of Holdings ^*

111

* may have additional holdings in another (foreign) market

Performance

Period	AFMC	RAYD
30 Days	2.32%	1.01%
60 Days	3.80%	3.69%
90 Days	7.75%	3.14%
12 Months	30.36%	29.29%

27 Overlapping Holdings

Symbol	Grade	Weight in AFMC	Weight in RAYD	Overlap
ANF	D	0.39%	0.5%	0.39%
BRBR	B	0.53%	1.42%	0.53%
COKE	C	0.99%	0.39%	0.39%
CR	C	0.27%	0.41%	0.27%
DBX	D	0.52%	0.18%	0.18%
DECK	C	0.49%	0.46%	0.46%
EME	B	1.06%	1.5%	1.06%
ERIE	A	0.87%	0.22%	0.22%
FICO	A	0.56%	0.21%	0.21%
GDDY	C	1.05%	0.25%	0.25%
HLI	B	0.08%	0.2%	0.08%
HRB	C	0.62%	0.3%	0.3%
MANH	B	0.29%	0.2%	0.2%
MEDP	D	0.48%	0.52%	0.48%
MTG	B	1.23%	0.2%	0.2%
MUSA	C	0.66%	0.64%	0.64%
NBIX	F	0.23%	0.14%	0.14%
NRG	C	0.91%	0.15%	0.15%
NTAP	D	0.63%	0.22%	0.22%
ORI	A	1.2%	0.34%	0.34%
SFM	B	1.55%	0.88%	0.88%
SMAR	B	0.05%	0.21%	0.05%
THC	B	1.27%	0.51%	0.51%
TPL	C	0.36%	0.18%	0.18%
UTHR	C	1.62%	0.19%	0.19%
WFRD	F	0.44%	0.4%	0.4%
WWD	D	0.27%	0.18%	0.18%

AFMC Overweight 215 Positions Relative to RAYD

Symbol	Grade	Weight
TOL	B	1.5%
KBH	B	1.25%
ACT	A	1.02%
AYI	B	1.02%
ESNT	B	1.01%
VST	C	0.97%
INGR	A	0.95%
MLI	B	0.94%
ALSN	B	0.94%
RDN	B	0.87%
HIW	B	0.86%
GLPI	B	0.83%
TMHC	B	0.81%
CSL	C	0.81%
WSM	C	0.81%
IBOC	C	0.81%
WPC	B	0.8%
UNM	B	0.79%
FIX	B	0.78%
IDCC	B	0.76%
LII	B	0.74%
OC	C	0.72%
CW	B	0.71%
CACI	B	0.71%
CNM	F	0.68%
NXST	D	0.67%
CRUS	D	0.67%
TXRH	D	0.66%
OHI	A	0.65%
PHM	B	0.65%
CVLT	B	0.65%
G	C	0.64%
BLDR	C	0.64%
AMG	C	0.62%
BERY	B	0.62%
FHI	A	0.62%
WBS	C	0.61%
CHRD	F	0.61%
NFG	B	0.61%
SF	A	0.6%
JBL	D	0.59%
DINO	D	0.58%
SNX	D	0.58%
JXN	B	0.58%
PRI	B	0.57%
HALO	B	0.57%
UHS	B	0.57%
CUZ	B	0.57%
MTH	B	0.56%
NYT	C	0.56%
CMC	D	0.55%
FFIV	A	0.54%
SBRA	B	0.54%
ENS	C	0.54%
EXP	B	0.52%
ONTO	F	0.52%
PSN	B	0.51%
TPR	C	0.51%
CBSH	C	0.49%
ACIW	B	0.49%
PPC	D	0.49%
CHE	C	0.48%
MAN	C	0.48%
JLL	B	0.47%
TGNA	C	0.47%
SANM	D	0.46%
PK	D	0.46%
AGCO	D	0.46%
GMED	D	0.45%
CRS	B	0.45%
KMT	B	0.45%
PINC	C	0.44%
NVST	D	0.44%
HNI	B	0.44%
BCC	C	0.44%
RGLD	B	0.43%
PVH	F	0.42%
LAMR	A	0.42%
MOH	C	0.42%
NTCT	D	0.42%
ARW	C	0.41%
RPM	B	0.41%
GEF	D	0.4%
SNA	B	0.4%
GHC	C	0.4%
AIZ	B	0.39%
TEX	D	0.39%
AMR	F	0.39%
ASO	C	0.39%
JAZZ	D	0.38%
DDS	D	0.38%
BTU	D	0.37%
EPR	B	0.37%
SAIC	C	0.37%
ADC	C	0.37%
WSO	C	0.36%
LNTH	C	0.36%
RS	D	0.34%
DKS	D	0.34%
TTEK	C	0.33%
UFPI	C	0.33%
PBF	F	0.33%
GAP	F	0.32%
NSA	B	0.32%
BYD	C	0.32%
APPF	D	0.32%
EXEL	B	0.32%
HWC	D	0.31%
CTRE	B	0.3%
HOG	C	0.3%
STLD	D	0.3%
FSS	D	0.3%
INCY	C	0.29%
COLB	B	0.29%
CNA	C	0.29%
SSB	B	0.29%
AN	D	0.28%
CRI	C	0.28%
IBP	C	0.28%
CHRW	B	0.28%
AVT	D	0.28%
CSWI	B	0.28%
LEA	D	0.27%
OLN	D	0.27%
ENSG	C	0.27%
ATKR	F	0.27%
FHN	D	0.27%
EHC	B	0.27%
MSM	D	0.26%
BDC	B	0.26%
NVT	D	0.25%
LOPE	D	0.25%
RL	B	0.25%
HST	D	0.24%
CROX	C	0.24%
GPI	B	0.24%
ZD	D	0.24%
TDC	F	0.24%
LPX	B	0.23%
L	B	0.23%
CATY	B	0.23%
JHG	B	0.23%
NAVI	C	0.22%
NEU	D	0.22%
BWA	D	0.22%
PSTG	F	0.22%
PRGO	D	0.21%
JWN	B	0.21%
SJM	C	0.21%
WCC	C	0.21%
ESAB	C	0.2%
CRVL	B	0.2%
ADNT	F	0.2%
DXC	C	0.19%
HOMB	B	0.19%
NUS	F	0.19%
OZK	D	0.19%
HPP	D	0.19%
OPCH	C	0.19%
AIT	C	0.18%
CLF	F	0.18%
APLE	D	0.17%
SM	D	0.17%
CNXC	D	0.17%
VSH	D	0.17%
AMN	F	0.17%
ABG	F	0.16%
M	F	0.16%
NSIT	C	0.15%
AEO	D	0.15%
ZION	D	0.15%
ATR	B	0.15%
BLD	D	0.15%
CASY	D	0.14%
CAH	C	0.13%
OGN	D	0.12%
CUBE	B	0.12%
TPH	C	0.12%
CPT	B	0.11%
BOX	B	0.11%
AOS	C	0.11%
APA	F	0.1%
BPMC	D	0.1%
ELF	F	0.1%
DCI	D	0.09%
ITT	C	0.09%
WU	D	0.09%
SKX	C	0.09%
ASGN	D	0.09%
EQH	C	0.09%
HSIC	C	0.09%
VNT	D	0.09%
HAE	D	0.08%
LECO	F	0.08%
ITRI	C	0.08%
OSCR	B	0.08%
BRX	B	0.08%
PDCO	F	0.07%
UGI	C	0.07%
TAP	C	0.07%
DOCS	B	0.06%
PBH	B	0.06%
ZETA	B	0.06%
DVA	B	0.06%
MMSI	B	0.06%
ACLS	F	0.06%
AWI	B	0.05%
CACC	D	0.05%
SPSC	D	0.05%
LEVI	C	0.04%
BMI	B	0.04%
IART	F	0.02%
NNN	B	0.0%
VRNS	C	0.0%
PI	B	0.0%

AFMC Underweight 84 Positions Relative to RAYD

Symbol	Grade	Weight
NVDA	D	-6.08%
AAPL	D	-5.21%
MSFT	C	-5.07%
AMZN	C	-3.3%
COST	C	-2.5%
GOOGL	D	-2.12%
LLY	C	-1.87%
BKNG	B	-1.85%
MA	B	-1.8%
SPOT	B	-1.44%
MELI	B	-1.33%
META	A	-1.24%
PGR	A	-1.12%
MCK	F	-1.1%
ALL	A	-1.04%
NVS	C	-0.85%
DTM	B	-0.85%
JNJ	B	-0.84%
PANW	D	-0.81%
MO	C	-0.8%
T	B	-0.78%
CL	C	-0.65%
RGA	B	-0.65%
MORN	C	-0.64%
MRK	D	-0.63%
PG	C	-0.59%
MMC	C	-0.59%
IBM	B	-0.57%
MMM	B	-0.57%
ADP	B	-0.52%
ABBV	C	-0.5%
CMI	C	-0.48%
V	B	-0.47%
VRTX	D	-0.46%
PRU	C	-0.44%
CRWD	F	-0.44%
NU	B	-0.41%
HCA	B	-0.41%
GM	B	-0.39%
CMG	C	-0.38%
NFLX	B	-0.37%
GOOG	D	-0.36%
TEAM	F	-0.35%
VRSK	D	-0.34%
APP	B	-0.33%
GRMN	D	-0.32%
MU	F	-0.3%
VEEV	C	-0.3%
HIG	A	-0.29%
GS	D	-0.28%
PINS	F	-0.28%
CHKP	C	-0.28%
INTC	F	-0.28%
TEVA	C	-0.27%
GRAB	B	-0.26%
WING	B	-0.26%
VRSN	D	-0.26%
TW	A	-0.25%
TSN	C	-0.24%
UBER	C	-0.22%
XRX	F	-0.22%
DASH	C	-0.22%
PM	C	-0.21%
FANG	D	-0.21%
VZ	B	-0.21%
LOGI	D	-0.21%
LPLA	D	-0.2%
DIS	D	-0.2%
DFS	C	-0.2%
HUBS	D	-0.2%
STX	D	-0.2%
NKE	D	-0.2%
TRGP	B	-0.2%
ALNY	B	-0.19%
HPQ	D	-0.19%
NTNX	C	-0.19%
RPRX	C	-0.18%
MNDY	B	-0.18%
FTI	D	-0.18%
DXCM	F	-0.18%
AER	C	-0.17%
LDOS	C	-0.17%
LULU	D	-0.16%
CYBR	D	-0.16%