CAMX vs. IAI ETF Comparison

Comparison of The Advisors? Inner Circle Fund Cambiar Aggressive Value ETF (CAMX) to iShares U.S. Broker-Dealers ETF (IAI)

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

$30.64

Average Daily Volume

424

Number of Holdings ^*

* may have additional holdings in another (foreign) market

IAI

iShares U.S. Broker-Dealers ETF

IAI Description

The investment seeks to track the investment results of an index composed of U.S. equities in the investment services sector. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the index. It seeks to track the investment results of the Dow Jones U.S. Select Investment Services Index (the "underlying index"), which measures the performance of the investment services sector of the U.S. equity market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$149.42

Average Daily Volume

111,749

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CAMX	IAI
30 Days	2.03%	13.35%
60 Days	6.91%	21.45%
90 Days	7.38%	24.13%
12 Months	26.65%	63.50%

2 Overlapping Holdings

	Symbol	Grade	Weight in CAMX	Weight in IAI	Overlap
	CME	B	5.31%	3.91%	3.91%
	GS	A	2.12%	14.6%	2.12%

CAMX Overweight 22 Positions Relative to IAI

Symbol	Grade	Weight
DAL	A	6.36%
AL	B	4.77%
BMY	B	4.53%
LH	B	4.42%
CMCSA	B	4.37%
MDT	D	4.36%
GOOGL	B	3.98%
TXN	B	3.93%
ET	B	3.88%
PPG	F	3.82%
UNP	D	3.28%
DEO	F	3.25%
CNC	F	3.03%
UBER	F	2.97%
WAT	B	2.76%
STZ	D	2.58%
CTVA	C	2.55%
EL	F	2.53%
CVX	B	2.49%
ELV	F	2.05%
AXP	B	1.51%
AMAT	F	1.25%

CAMX Underweight 30 Positions Relative to IAI

Symbol	Grade	Weight
MS	A	-12.7%
SPGI	D	-12.64%
COIN	B	-6.26%
SCHW	B	-4.58%
NDAQ	B	-3.99%
MSCI	B	-3.94%
ICE	D	-3.76%
MCO	C	-3.75%
RJF	A	-3.58%
LPLA	B	-2.8%
HOOD	B	-2.57%
CBOE	D	-2.57%
IBKR	A	-2.24%
FDS	B	-2.22%
TW	B	-1.87%
SF	A	-1.45%
JEF	B	-1.42%
EVR	B	-1.36%
MKTX	C	-1.28%
HLI	A	-1.21%
MORN	B	-1.15%
LAZ	B	-0.83%
PIPR	B	-0.67%
MC	B	-0.49%
PJT	B	-0.48%
BGC	B	-0.46%
VIRT	B	-0.37%
SNEX	B	-0.34%
DFIN	C	-0.21%
LPRO	C	-0.09%