IAI vs. RAYD ETF Comparison

Comparison of iShares U.S. Broker-Dealers ETF (IAI) to The Advisors' Inner Circle Fund III Rayliant Quantitative Developed Market Equity ETF (RAYD)

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

$149.73

Average Daily Volume

102,650

Number of Holdings ^*

* 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

$32.06

Average Daily Volume

6,228

Number of Holdings ^*

111

* may have additional holdings in another (foreign) market

Performance

Period	IAI	RAYD
30 Days	8.12%	1.84%
60 Days	17.29%	4.29%
90 Days	20.25%	5.77%
12 Months	57.13%	35.79%

6 Overlapping Holdings

Symbol	Grade	Weight in IAI	Weight in RAYD	Overlap
EVR	B	1.29%	0.72%	0.72%
GS	B	14.35%	0.33%	0.33%
HLI	B	1.18%	0.23%	0.23%
LPLA	A	2.81%	0.28%	0.28%
MCO	D	3.78%	0.29%	0.29%
MORN	B	1.11%	0.68%	0.68%

IAI Overweight 26 Positions Relative to RAYD

Symbol	Grade	Weight
MS	A	12.73%
SPGI	D	12.62%
COIN	A	6.64%
SCHW	A	4.88%
MSCI	B	4.03%
NDAQ	A	3.87%
CME	A	3.82%
ICE	C	3.67%
RJF	A	3.56%
HOOD	A	2.74%
CBOE	C	2.48%
IBKR	A	2.32%
FDS	B	2.25%
TW	A	1.8%
JEF	A	1.44%
SF	B	1.43%
MKTX	D	1.2%
LAZ	B	0.76%
PIPR	B	0.64%
PJT	B	0.47%
MC	B	0.47%
BGC	C	0.43%
VIRT	A	0.37%
SNEX	B	0.33%
DFIN	D	0.2%
LPRO	C	0.08%

IAI Underweight 105 Positions Relative to RAYD

Symbol	Grade	Weight
NVDA	A	-5.62%
AAPL	C	-5.42%
MSFT	D	-4.67%
AMZN	B	-3.47%
GOOGL	B	-2.82%
COST	A	-2.39%
SPOT	B	-2.2%
BKNG	A	-1.88%
BRBR	A	-1.62%
LLY	F	-1.51%
META	C	-1.48%
MELI	D	-1.39%
MO	A	-1.32%
MCK	A	-1.25%
SFM	A	-1.19%
MMM	D	-1.18%
T	A	-1.15%
PGR	B	-1.11%
COKE	C	-0.99%
HCA	F	-0.98%
CL	D	-0.95%
MUSA	B	-0.92%
CVLT	B	-0.87%
ADP	B	-0.86%
ALL	A	-0.82%
THC	C	-0.8%
PM	A	-0.79%
MSI	B	-0.79%
APP	A	-0.74%
MU	D	-0.66%
NFLX	A	-0.64%
EXEL	B	-0.63%
DASH	A	-0.62%
TRGP	A	-0.6%
FTNT	B	-0.58%
HRB	D	-0.56%
COR	B	-0.56%
CRWD	B	-0.55%
PG	C	-0.54%
DFS	B	-0.51%
MRK	F	-0.51%
TEAM	A	-0.49%
ANF	C	-0.48%
MTG	D	-0.48%
V	A	-0.48%
FICO	B	-0.47%
LMT	D	-0.45%
WING	D	-0.45%
PANW	B	-0.45%
DECK	A	-0.43%
ABBV	F	-0.42%
JNJ	D	-0.39%
GOOG	B	-0.39%
RBLX	B	-0.38%
ALNY	D	-0.36%
CMG	C	-0.36%
GM	B	-0.35%
WFRD	F	-0.35%
ORI	A	-0.35%
GRMN	B	-0.35%
GRAB	A	-0.34%
TMUS	B	-0.34%
ZM	B	-0.34%
CAH	B	-0.33%
TXRH	B	-0.33%
INTC	C	-0.33%
NOW	B	-0.32%
GWRE	A	-0.31%
VEEV	C	-0.3%
CNA	C	-0.29%
GDDY	A	-0.29%
SMAR	A	-0.29%
AZO	C	-0.29%
HIG	B	-0.28%
VRSN	F	-0.26%
DOCU	B	-0.26%
CHKP	D	-0.25%
HSBH	A	-0.24%
LPX	B	-0.23%
TSN	B	-0.23%
DIS	B	-0.22%
XRX	F	-0.22%
LDOS	C	-0.21%
RMD	C	-0.21%
NTAP	C	-0.21%
UBER	F	-0.21%
HPQ	B	-0.2%
MANH	D	-0.2%
FTI	A	-0.2%
UTHR	C	-0.2%
LOGI	F	-0.19%
RGLD	C	-0.19%
UNH	C	-0.19%
LULU	C	-0.18%
VZ	C	-0.18%
DXCM	C	-0.18%
STX	D	-0.18%
WWD	B	-0.17%
MNDY	D	-0.16%
AER	B	-0.16%
NRG	B	-0.16%
CYBR	A	-0.16%
UHS	D	-0.16%
RPRX	F	-0.16%
ERIE	F	-0.16%