FEX vs. RAYD ETF Comparison

Comparison of First Trust Large Cap Core AlphaDEX (FEX) to The Advisors' Inner Circle Fund III Rayliant Quantitative Developed Market Equity ETF (RAYD)

FEX

First Trust Large Cap Core AlphaDEX

FEX Description

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the Defined Large Cap Core Index. The fund will normally invest at least 90% of its net assets in common stocks that comprise the index. The index is a modified equal-dollar weighted index designed by S&P to objectively identify and select stocks from the S&P 500(R) Index that may generate positive alpha relative to traditional passive-style indices through the use of the AlphaDEX(R) selection methodology. It is non-diversified.

Grade (RS Rating)

Last Trade

$109.01

Average Daily Volume

22,877

Number of Holdings ^*

372

* 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

$32.39

Average Daily Volume

6,340

Number of Holdings ^*

111

* may have additional holdings in another (foreign) market

Performance

Period	FEX	RAYD
30 Days	3.33%	3.28%
60 Days	7.88%	7.36%
90 Days	9.87%	8.26%
12 Months	30.93%	38.05%

54 Overlapping Holdings

Symbol	Grade	Weight in FEX	Weight in RAYD	Overlap
AAPL	C	0.16%	5.5%	0.16%
ALL	B	0.44%	0.79%	0.44%
ALNY	D	0.34%	0.37%	0.34%
AMZN	A	0.09%	3.42%	0.09%
APP	B	0.92%	0.64%	0.64%
AZO	B	0.08%	0.29%	0.08%
BKNG	A	0.3%	1.87%	0.3%
CL	F	0.15%	0.95%	0.15%
CMG	B	0.09%	0.36%	0.09%
COST	B	0.35%	2.35%	0.35%
DASH	A	0.41%	0.6%	0.41%
DECK	B	0.19%	0.42%	0.19%
DIS	B	0.18%	0.21%	0.18%
ERIE	F	0.33%	0.17%	0.17%
FICO	B	0.51%	0.44%	0.44%
FTNT	B	0.31%	0.5%	0.31%
GDDY	B	0.39%	0.27%	0.27%
GM	B	0.54%	0.33%	0.33%
GOOGL	C	0.09%	2.87%	0.09%
GRMN	A	0.3%	0.35%	0.3%
GS	B	0.51%	0.32%	0.32%
HCA	D	0.37%	1.0%	0.37%
HIG	C	0.33%	0.28%	0.28%
HPQ	B	0.09%	0.2%	0.09%
INTC	C	0.36%	0.35%	0.35%
JNJ	D	0.24%	0.4%	0.24%
LLY	F	0.16%	1.49%	0.16%
LMT	D	0.08%	0.44%	0.08%
MANH	C	0.25%	0.2%	0.2%
MCO	C	0.25%	0.29%	0.25%
META	B	0.34%	1.52%	0.34%
MO	A	0.09%	1.28%	0.09%
MSI	B	0.37%	0.75%	0.37%
MU	D	0.09%	0.76%	0.09%
NFLX	A	0.28%	0.62%	0.28%
NOW	A	0.29%	0.32%	0.29%
NRG	C	0.43%	0.17%	0.17%
NTAP	D	0.16%	0.22%	0.16%
NVDA	A	0.3%	5.75%	0.3%
PANW	B	0.1%	0.44%	0.1%
PGR	A	0.43%	1.09%	0.43%
PM	B	0.34%	0.78%	0.34%
RBLX	B	0.41%	0.38%	0.38%
RMD	C	0.34%	0.22%	0.22%
STX	D	0.23%	0.2%	0.2%
T	A	0.42%	1.15%	0.42%
THC	B	0.42%	0.83%	0.42%
TMUS	A	0.39%	0.32%	0.32%
TRGP	B	0.44%	0.59%	0.44%
TSN	B	0.17%	0.22%	0.17%
UBER	F	0.16%	0.22%	0.16%
UTHR	B	0.47%	0.21%	0.21%
VZ	D	0.3%	0.18%	0.18%
ZM	B	0.31%	0.32%	0.31%

FEX Overweight 318 Positions Relative to RAYD

Symbol	Grade	Weight
PLTR	B	0.68%
UAL	A	0.65%
AXON	B	0.64%
SYF	B	0.55%
RCL	A	0.55%
VRT	B	0.53%
EXPE	B	0.52%
SNA	A	0.52%
DAL	A	0.52%
EME	B	0.51%
VST	B	0.51%
KKR	B	0.5%
STLD	C	0.49%
PCAR	B	0.49%
HWM	B	0.48%
CVNA	B	0.48%
RS	C	0.47%
BK	B	0.46%
OC	A	0.46%
PWR	B	0.46%
WAB	B	0.46%
CINF	A	0.46%
TT	B	0.45%
HPE	B	0.45%
URI	B	0.45%
AXP	B	0.45%
FOXA	A	0.45%
TROW	A	0.45%
EOG	A	0.45%
SLB	C	0.44%
CTSH	A	0.44%
NUE	D	0.44%
CMCSA	B	0.44%
CTRA	B	0.44%
CVX	A	0.44%
F	C	0.44%
COP	C	0.44%
CCL	B	0.44%
TOL	B	0.43%
VLO	C	0.43%
WFC	A	0.43%
XOM	B	0.43%
HAL	C	0.43%
FANG	C	0.43%
DVN	F	0.42%
HEI	A	0.42%
COF	B	0.42%
PSX	C	0.41%
BKR	B	0.41%
BURL	C	0.41%
CPNG	B	0.41%
OXY	F	0.41%
KMI	B	0.41%
IRM	D	0.41%
CF	B	0.41%
TPL	B	0.4%
FCNCA	B	0.4%
LNG	B	0.4%
FI	A	0.4%
MPC	D	0.4%
EQT	B	0.4%
ON	F	0.4%
MTB	A	0.4%
HBAN	A	0.4%
PHM	D	0.39%
EG	D	0.39%
IP	B	0.39%
BAH	C	0.38%
VTRS	B	0.38%
LYV	A	0.38%
CFG	B	0.38%
BG	D	0.38%
ETR	B	0.38%
LEN	D	0.38%
ADM	F	0.37%
DHI	D	0.37%
SRE	B	0.37%
GEN	B	0.37%
LYB	F	0.37%
CVS	F	0.37%
ORCL	A	0.37%
SWKS	F	0.37%
C	B	0.37%
PH	A	0.37%
CRBG	C	0.36%
BRO	B	0.36%
CTAS	B	0.36%
ANET	C	0.35%
KR	A	0.35%
LII	B	0.35%
NI	A	0.35%
HOOD	B	0.35%
XEL	A	0.35%
L	A	0.35%
ATO	B	0.35%
ALLY	C	0.35%
AEE	B	0.35%
FDX	B	0.35%
CNC	F	0.34%
VTR	C	0.34%
ZBH	C	0.34%
CNP	B	0.34%
AIG	B	0.34%
DGX	B	0.34%
CB	C	0.33%
DUK	D	0.33%
ULTA	C	0.33%
GE	D	0.33%
TGT	C	0.33%
AFL	C	0.33%
TXT	D	0.33%
ED	D	0.32%
EXC	C	0.32%
BLDR	C	0.32%
EBAY	C	0.32%
MS	A	0.32%
IBM	D	0.32%
APTV	F	0.32%
CEG	D	0.31%
CHTR	B	0.31%
AEP	D	0.31%
DTE	D	0.31%
TTD	B	0.3%
NTRS	A	0.3%
OKE	A	0.3%
NEE	D	0.3%
ACGL	C	0.3%
AMP	A	0.3%
DG	F	0.3%
AKAM	F	0.3%
JBHT	C	0.29%
BAC	A	0.29%
GWW	B	0.29%
CSCO	A	0.28%
FITB	A	0.28%
LUV	B	0.28%
TRV	B	0.28%
TDY	B	0.28%
USB	B	0.28%
PKG	B	0.28%
RF	A	0.28%
JPM	A	0.28%
CSX	B	0.27%
PCG	A	0.27%
WELL	B	0.27%
HLT	A	0.27%
ISRG	A	0.27%
STT	B	0.27%
CASY	B	0.27%
SHW	A	0.26%
WEC	B	0.26%
FSLR	F	0.26%
AVGO	C	0.26%
TYL	B	0.26%
BSX	A	0.26%
ICE	C	0.25%
SPGI	C	0.25%
PEG	C	0.25%
EQR	C	0.25%
LNT	C	0.25%
TJX	A	0.25%
D	D	0.25%
SSNC	C	0.25%
PPL	A	0.25%
CAT	B	0.25%
BRK.A	B	0.25%
NVR	D	0.24%
CARR	C	0.24%
PPG	F	0.24%
HRL	F	0.24%
EIX	C	0.24%
TDG	D	0.24%
CE	F	0.24%
DE	D	0.24%
CMS	D	0.24%
EFX	F	0.23%
PSA	D	0.23%
KHC	F	0.23%
VLTO	D	0.23%
BBY	C	0.22%
GIS	F	0.22%
GPC	D	0.22%
RJF	A	0.22%
KDP	C	0.22%
BIIB	F	0.22%
APO	B	0.22%
HUM	D	0.22%
TSLA	B	0.22%
ELV	F	0.21%
DOW	F	0.21%
DELL	C	0.2%
CPAY	A	0.2%
CMI	A	0.19%
LHX	B	0.19%
PYPL	A	0.19%
J	D	0.19%
ETN	B	0.19%
PNC	B	0.19%
KEY	B	0.19%
RGA	A	0.18%
BR	A	0.18%
APD	B	0.18%
WRB	B	0.18%
IR	A	0.18%
IEX	B	0.18%
SPG	A	0.18%
KIM	A	0.18%
IT	B	0.18%
HUBB	C	0.18%
NDAQ	B	0.18%
WSO	B	0.18%
LH	B	0.18%
NWSA	B	0.18%
CI	D	0.17%
CTVA	C	0.17%
SYY	D	0.17%
LVS	C	0.17%
MAA	C	0.17%
MSTR	B	0.17%
OMC	A	0.17%
CSL	B	0.17%
PFG	C	0.17%
KEYS	C	0.17%
DRI	B	0.17%
PRU	B	0.17%
GD	C	0.17%
AJG	A	0.17%
HSY	F	0.16%
ARE	F	0.16%
DD	D	0.16%
FE	D	0.16%
ROST	D	0.16%
MOH	F	0.16%
FTV	C	0.16%
UPS	C	0.16%
TSCO	D	0.16%
FNF	C	0.16%
HOLX	D	0.16%
DOC	C	0.16%
SO	D	0.16%
MDT	D	0.16%
ECL	C	0.16%
KO	F	0.15%
MDLZ	F	0.15%
O	D	0.15%
COIN	B	0.15%
CPB	F	0.15%
EXR	D	0.15%
AWK	D	0.15%
XYL	F	0.15%
WY	F	0.15%
AMT	F	0.14%
WLK	F	0.14%
NKE	F	0.14%
MPWR	F	0.12%
ADSK	B	0.1%
MAR	A	0.1%
ODFL	B	0.1%
EMR	A	0.1%
WMB	B	0.1%
ABT	C	0.09%
MSCI	B	0.09%
EQIX	B	0.09%
SBUX	B	0.09%
ESS	C	0.09%
AVB	B	0.09%
SYK	A	0.09%
MKL	A	0.09%
RSG	B	0.09%
WAT	B	0.09%
ORLY	A	0.09%
DOV	A	0.09%
MA	B	0.09%
VRTX	B	0.09%
NSC	B	0.09%
WST	B	0.09%
ARES	B	0.09%
AON	B	0.09%
PAYX	B	0.09%
JCI	A	0.09%
APH	B	0.09%
RPM	A	0.09%
FCX	F	0.08%
ZTS	D	0.08%
EXPD	C	0.08%
GEHC	D	0.08%
BLD	F	0.08%
SBAC	D	0.08%
IQV	F	0.08%
AVY	F	0.08%
MKC	D	0.08%
KMB	D	0.08%
VICI	D	0.08%
RVTY	C	0.08%
GLPI	D	0.08%
MAS	D	0.08%
PEP	D	0.08%
BDX	F	0.08%
CBOE	D	0.08%
OTIS	D	0.08%
RIVN	F	0.08%
MCD	C	0.08%
MET	C	0.08%
NDSN	B	0.08%
POOL	D	0.08%
AMGN	F	0.08%
MMC	D	0.08%
ROL	C	0.08%
HD	B	0.08%
NOC	D	0.08%
ACN	B	0.08%
CLX	A	0.08%
LOW	B	0.08%
WSM	F	0.07%
CAG	F	0.07%
KLAC	F	0.07%
CCI	F	0.07%
TMO	F	0.07%

FEX Underweight 57 Positions Relative to RAYD

Symbol	Grade	Weight
MSFT	C	-4.7%
SPOT	A	-1.89%
BRBR	A	-1.56%
MELI	D	-1.28%
MCK	B	-1.22%
MMM	C	-1.2%
SFM	B	-1.16%
COKE	C	-0.96%
MUSA	B	-0.89%
ADP	A	-0.85%
CVLT	B	-0.85%
EVR	B	-0.74%
MORN	B	-0.68%
EXEL	B	-0.64%
HRB	D	-0.6%
COR	B	-0.55%
PG	C	-0.54%
CRWD	B	-0.53%
MRK	F	-0.53%
DFS	B	-0.51%
ABBV	F	-0.5%
MTG	C	-0.48%
ANF	C	-0.48%
V	A	-0.48%
WING	D	-0.45%
TEAM	B	-0.45%
GOOG	C	-0.4%
WFRD	F	-0.36%
ORI	A	-0.34%
TXRH	A	-0.33%
GWRE	A	-0.31%
CAH	B	-0.31%
VEEV	B	-0.29%
CNA	C	-0.29%
SMAR	A	-0.29%
GRAB	B	-0.29%
LPLA	A	-0.28%
VRSN	C	-0.26%
DOCU	B	-0.25%
CHKP	C	-0.25%
HSBH	A	-0.25%
LPX	A	-0.23%
HLI	B	-0.23%
XRX	F	-0.22%
FTI	B	-0.21%
LOGI	F	-0.2%
RGLD	C	-0.2%
LDOS	C	-0.2%
MNDY	C	-0.19%
UNH	B	-0.19%
DXCM	C	-0.18%
LULU	B	-0.18%
CYBR	B	-0.17%
AER	B	-0.17%
UHS	D	-0.17%
RPRX	F	-0.17%
WWD	B	-0.17%