CAMX vs. DIVL ETF Comparison

Comparison of The Advisors? Inner Circle Fund Cambiar Aggressive Value ETF (CAMX) to Madison Dividend Value ETF (DIVL)

CAMX

The Advisors? Inner Circle Fund Cambiar Aggressive Value ETF

CAMX Description

Under normal circumstances, the fund primarily invests in equity securities of companies located in the United States. The fund typically invests in a portfolio of 20-30 issuers that Cambiar Investors, the fund"s investment adviser, believes represent the best opportunities for long-term capital appreciation. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$30.26

Average Daily Volume

311

Number of Holdings ^*

* may have additional holdings in another (foreign) market

DIVL

Madison Dividend Value ETF

DIVL Description

The fund seeks to achieve its investment objective by investing in equity securities of companies with a market capitalization of over $1 billion and a history of paying dividends, with the ability to increase dividends over time. Under normal market conditions, the fund will invest at least 80% of its net assets (including any borrowings for investment purposes) in dividend paying equity securities. The fund may also invest up to 50% of its common stock allocation in foreign securities, including ADRs and emerging market securities.

Grade (RS Rating)

Last Trade

$22.53

Average Daily Volume

2,676

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CAMX	DIVL
30 Days	1.56%	1.65%
60 Days	3.04%	4.77%
90 Days	2.19%	5.98%
12 Months	21.57%	21.78%

6 Overlapping Holdings

Symbol	Grade	Weight in CAMX	Weight in DIVL	Overlap
CMCSA	B	4.29%	2.82%	2.82%
CME	B	5.18%	2.63%	2.63%
CVX	A	2.53%	3.1%	2.53%
MDT	D	4.19%	2.64%	2.64%
TXN	C	4.0%	3.85%	3.85%
UNP	C	3.28%	2.74%	2.74%

CAMX Overweight 18 Positions Relative to DIVL

Symbol	Grade	Weight
DAL	B	6.92%
AL	B	5.05%
BMY	B	4.65%
LH	B	4.59%
GOOGL	C	4.11%
ET	A	3.9%
PPG	F	3.63%
DEO	F	3.25%
ELV	F	3.01%
ABNB	C	2.94%
UBER	F	2.86%
CNC	D	2.78%
CTVA	C	2.32%
EL	F	2.23%
GS	A	2.01%
WAT	C	1.96%
AXP	A	1.57%
AMAT	F	1.25%

CAMX Underweight 30 Positions Relative to DIVL

Symbol	Grade	Weight
MS	A	-4.78%
FAST	B	-4.53%
ADP	A	-4.51%
BLK	B	-3.99%
HON	C	-3.92%
HD	B	-3.83%
ABBV	F	-3.54%
JPM	A	-3.52%
LOW	C	-3.29%
EOG	A	-3.17%
JNJ	C	-2.77%
NEE	C	-2.69%
HPE	B	-2.65%
BAC	A	-2.61%
AMT	C	-2.58%
COP	C	-2.57%
USB	A	-2.54%
MKC	C	-2.35%
APD	A	-2.29%
D	C	-2.28%
CMI	A	-2.16%
DGX	A	-2.02%
XOM	B	-1.91%
PG	C	-1.41%
NKE	F	-1.36%
PEP	F	-1.32%
ABT	B	-1.25%
DE	B	-1.14%
PAYX	B	-1.13%
CL	D	-0.99%