QQQ vs. RAYD ETF Comparison

Comparison of PowerShares QQQ Trust, Series 1 (QQQ) to The Advisors' Inner Circle Fund III Rayliant Quantitative Developed Market Equity ETF (RAYD)

QQQ

PowerShares QQQ Trust, Series 1

QQQ Description

PowerShares Capital Management LLC is passionate about our goal of delivering the highest quality investment management available through one of the more benefit-rich investment vehicles ever created, the exchange-traded fund. PowerShares QQQ, formerly known as "QQQ" or the "NASDAQ-100 Index Tracking Stock", is an exchange-traded fund based on the Nasdaq-100 Index. The Fund will, under most circumstances, consists of all of stocks in the Index. The Index includes 100 of the largest domestic and international non-financial companies listed on the Nasdaq Stock Market based on market capitalization. The Fund and the Index are rebalanced quarterly and reconstituted annually.

Grade (RS Rating)

Last Trade

$487.32

Average Daily Volume

36,531,182

Number of Holdings ^*

101

* 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

$30.90

Average Daily Volume

6,019

Number of Holdings ^*

108

* may have additional holdings in another (foreign) market

Performance

Period	QQQ	RAYD
30 Days	5.95%	4.53%
60 Days	12.09%	11.75%
90 Days	-1.64%	3.14%
12 Months	36.79%	35.91%

24 Overlapping Holdings

Symbol	Grade	Weight in QQQ	Weight in RAYD	Overlap
AAPL	C	8.79%	5.36%	5.36%
ADP	A	0.73%	0.51%	0.51%
AMZN	C	5.1%	3.22%	3.22%
BKNG	B	0.94%	2.22%	0.94%
COST	C	2.62%	2.4%	2.4%
CRWD	D	0.43%	0.46%	0.43%
DASH	A	0.36%	0.23%	0.23%
DXCM	F	0.18%	0.18%	0.18%
FANG	D	0.2%	0.2%	0.2%
FTNT	A	0.39%	0.19%	0.19%
GOOG	B	2.32%	0.37%	0.37%
GOOGL	B	2.42%	2.67%	2.42%
INTC	D	0.67%	0.33%	0.33%
LULU	D	0.21%	0.16%	0.16%
MELI	D	0.7%	1.26%	0.7%
META	A	5.01%	1.51%	1.51%
MSFT	D	8.14%	4.92%	4.92%
MU	D	0.8%	0.76%	0.76%
NFLX	A	2.0%	0.57%	0.57%
NVDA	B	7.73%	5.74%	5.74%
PANW	B	0.72%	0.4%	0.4%
TEAM	D	0.17%	0.33%	0.17%
TMUS	A	1.56%	0.29%	0.29%
VRSK	D	0.25%	0.52%	0.25%

QQQ Overweight 77 Positions Relative to RAYD

Symbol	Grade	Weight
AVGO	B	5.41%
TSLA	C	3.12%
AMD	C	1.78%
PEP	F	1.53%
LIN	C	1.51%
ADBE	F	1.5%
CSCO	A	1.4%
QCOM	D	1.26%
TXN	C	1.25%
INTU	F	1.17%
AMAT	C	1.13%
ISRG	C	1.13%
AMGN	D	1.12%
CMCSA	B	1.04%
HON	C	0.88%
VRTX	D	0.78%
ADI	B	0.76%
REGN	D	0.74%
LRCX	D	0.72%
SBUX	B	0.72%
KLAC	B	0.71%
GILD	A	0.68%
MDLZ	D	0.65%
PDD	B	0.57%
CTAS	C	0.55%
PYPL	A	0.54%
CEG	A	0.53%
ASML	F	0.53%
SNPS	F	0.52%
CDNS	D	0.49%
MAR	A	0.46%
ORLY	A	0.44%
CSX	D	0.43%
MRVL	C	0.42%
NXPI	F	0.4%
ADSK	B	0.39%
ROP	D	0.39%
ABNB	D	0.37%
AEP	C	0.35%
PCAR	D	0.34%
WDAY	D	0.34%
CPRT	B	0.33%
KDP	C	0.33%
MNST	D	0.33%
ROST	D	0.33%
TTD	A	0.32%
PAYX	B	0.31%
CHTR	D	0.3%
AZN	D	0.3%
KHC	F	0.28%
GEHC	C	0.28%
MCHP	F	0.28%
FAST	C	0.27%
ODFL	F	0.27%
IDXX	D	0.27%
EXC	C	0.26%
EA	D	0.25%
CTSH	B	0.25%
CCEP	C	0.24%
BKR	B	0.23%
DDOG	B	0.23%
XEL	C	0.23%
ON	F	0.21%
CDW	D	0.2%
CSGP	F	0.2%
BIIB	F	0.19%
ANSS	D	0.19%
ZS	F	0.17%
TTWO	D	0.17%
MRNA	F	0.16%
GFS	F	0.15%
SMCI	F	0.15%
ILMN	B	0.14%
MDB	D	0.13%
WBD	F	0.13%
ARM	C	0.12%
DLTR	F	0.1%

QQQ Underweight 84 Positions Relative to RAYD

Symbol	Grade	Weight
LLY	D	-1.75%
EME	B	-1.57%
SPOT	C	-1.54%
BRBR	A	-1.42%
T	B	-1.16%
PGR	B	-1.11%
ALL	A	-1.03%
MCK	F	-1.0%
MO	D	-0.95%
MA	A	-0.92%
SFM	A	-0.92%
MUSA	D	-0.9%
HCA	C	-0.87%
DTM	A	-0.87%
NVS	D	-0.84%
CL	D	-0.81%
MMM	C	-0.8%
COKE	C	-0.77%
MORN	B	-0.65%
EVR	C	-0.64%
MRK	F	-0.61%
PG	D	-0.59%
IBM	A	-0.58%
PM	D	-0.52%
THC	D	-0.51%
CVLT	B	-0.5%
ABBV	C	-0.49%
ANF	D	-0.48%
EXEL	B	-0.48%
MEDP	F	-0.47%
MSI	A	-0.45%
DECK	B	-0.45%
V	B	-0.44%
PRU	B	-0.44%
JNJ	D	-0.43%
DFS	A	-0.42%
FICO	C	-0.4%
ALNY	C	-0.39%
CMG	C	-0.37%
WFRD	F	-0.36%
APP	A	-0.35%
ORI	A	-0.34%
RGA	B	-0.33%
HRB	C	-0.3%
GRMN	D	-0.3%
CHKP	A	-0.29%
HIG	A	-0.29%
VEEV	C	-0.28%
GS	B	-0.28%
VRSN	C	-0.27%
WING	C	-0.27%
GRAB	C	-0.27%
TW	A	-0.26%
GDDY	B	-0.25%
UBER	C	-0.24%
XRX	D	-0.23%
ERIE	A	-0.23%
TSN	D	-0.23%
NTAP	D	-0.23%
STX	C	-0.22%
DOCU	A	-0.22%
LOGI	D	-0.22%
HPQ	B	-0.21%
VZ	C	-0.21%
DIS	D	-0.21%
MANH	A	-0.21%
MTG	A	-0.21%
LPLA	D	-0.21%
TRGP	A	-0.2%
UHS	D	-0.2%
HLI	A	-0.2%
RGLD	C	-0.2%
MNDY	B	-0.19%
UNH	B	-0.19%
UTHR	C	-0.19%
FTI	B	-0.19%
LMT	A	-0.19%
WWD	C	-0.18%
DBX	C	-0.18%
RPRX	D	-0.18%
CYBR	C	-0.17%
AER	C	-0.17%
NRG	A	-0.17%
LDOS	A	-0.17%