RAYD vs. AFSM ETF Comparison

Comparison of The Advisors' Inner Circle Fund III Rayliant Quantitative Developed Market Equity ETF (RAYD) to Active Factor Small Cap ETF (AFSM)

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

$30.39

Average Daily Volume

6,413

Number of Holdings ^*

111

* may have additional holdings in another (foreign) market

AFSM

Active Factor Small Cap ETF

AFSM Description

The investment seeks to provide capital appreciation. Under normal market conditions, the fund will invest at least 80% of its net assets (including investment borrowings) in U.S.-listed equity securities issued by small capitalization companies. The manager defines small capitalization companies as those that, at the time of investment, have a market capitalization between a minimum of $250 million and the maximum market capitalization of a widely recognized index of small capitalization companies based upon the composition of the index at the time of investment. It is non-diversified.

Grade (RS Rating)

Last Trade

$30.33

Average Daily Volume

7,557

Number of Holdings ^*

294

* may have additional holdings in another (foreign) market

Performance

Period	RAYD	AFSM
30 Days	1.01%	1.91%
60 Days	3.69%	1.61%
90 Days	3.14%	8.56%
12 Months	29.29%	25.46%

11 Overlapping Holdings

Symbol	Grade	Weight in RAYD	Weight in AFSM	Overlap
ANF	D	0.5%	0.88%	0.5%
BRBR	B	1.42%	0.48%	0.48%
COKE	C	0.39%	0.62%	0.39%
EME	B	1.5%	0.66%	0.66%
HRB	C	0.3%	0.53%	0.3%
MEDP	D	0.52%	0.28%	0.28%
MTG	B	0.2%	0.85%	0.2%
MUSA	C	0.64%	0.6%	0.6%
SFM	B	0.88%	0.81%	0.81%
WFRD	F	0.4%	0.47%	0.4%
XRX	F	0.22%	0.21%	0.21%

RAYD Overweight 100 Positions Relative to AFSM

Symbol	Grade	Weight
NVDA	D	6.08%
AAPL	D	5.21%
MSFT	C	5.07%
AMZN	C	3.3%
COST	C	2.5%
GOOGL	D	2.12%
LLY	C	1.87%
BKNG	B	1.85%
MA	B	1.8%
SPOT	B	1.44%
MELI	B	1.33%
META	A	1.24%
PGR	A	1.12%
MCK	F	1.1%
ALL	A	1.04%
NVS	C	0.85%
DTM	B	0.85%
JNJ	B	0.84%
PANW	D	0.81%
MO	C	0.8%
T	B	0.78%
CL	C	0.65%
RGA	B	0.65%
MORN	C	0.64%
MRK	D	0.63%
PG	C	0.59%
MMC	C	0.59%
IBM	B	0.57%
MMM	B	0.57%
ADP	B	0.52%
THC	B	0.51%
ABBV	C	0.5%
CMI	C	0.48%
V	B	0.47%
DECK	C	0.46%
VRTX	D	0.46%
PRU	C	0.44%
CRWD	F	0.44%
CR	C	0.41%
NU	B	0.41%
HCA	B	0.41%
GM	B	0.39%
CMG	C	0.38%
NFLX	B	0.37%
GOOG	D	0.36%
TEAM	F	0.35%
ORI	A	0.34%
VRSK	D	0.34%
APP	B	0.33%
GRMN	D	0.32%
MU	F	0.3%
VEEV	C	0.3%
HIG	A	0.29%
GS	D	0.28%
PINS	F	0.28%
CHKP	C	0.28%
INTC	F	0.28%
TEVA	C	0.27%
GRAB	B	0.26%
WING	B	0.26%
VRSN	D	0.26%
TW	A	0.25%
GDDY	C	0.25%
TSN	C	0.24%
ERIE	A	0.22%
UBER	C	0.22%
NTAP	D	0.22%
DASH	C	0.22%
PM	C	0.21%
FANG	D	0.21%
FICO	A	0.21%
SMAR	B	0.21%
VZ	B	0.21%
LOGI	D	0.21%
HLI	B	0.2%
LPLA	D	0.2%
DIS	D	0.2%
DFS	C	0.2%
HUBS	D	0.2%
STX	D	0.2%
NKE	D	0.2%
TRGP	B	0.2%
MANH	B	0.2%
ALNY	B	0.19%
UTHR	C	0.19%
HPQ	D	0.19%
NTNX	C	0.19%
WWD	D	0.18%
DBX	D	0.18%
RPRX	C	0.18%
TPL	C	0.18%
MNDY	B	0.18%
FTI	D	0.18%
DXCM	F	0.18%
AER	C	0.17%
LDOS	C	0.17%
LULU	D	0.16%
CYBR	D	0.16%
NRG	C	0.15%
NBIX	F	0.14%

RAYD Underweight 283 Positions Relative to AFSM

Symbol	Grade	Weight
NHC	D	-1.27%
MLI	B	-1.13%
ALKS	C	-0.97%
IDCC	B	-0.95%
SKYW	C	-0.93%
CPRX	B	-0.89%
MHO	B	-0.84%
RDN	B	-0.83%
PFBC	C	-0.82%
TNK	D	-0.8%
HALO	B	-0.79%
DAKT	D	-0.79%
CRS	B	-0.77%
UVE	B	-0.76%
TMHC	B	-0.72%
CVLT	B	-0.71%
BCC	C	-0.71%
NHI	A	-0.68%
NMIH	B	-0.68%
TBBK	B	-0.67%
ZETA	B	-0.64%
NTB	C	-0.64%
BMI	B	-0.63%
COOP	B	-0.63%
HWKN	B	-0.63%
CALM	B	-0.63%
JXN	B	-0.63%
FIX	B	-0.62%
PLUS	B	-0.61%
ACT	A	-0.6%
SANM	D	-0.6%
CRVL	B	-0.6%
OFG	C	-0.6%
GMED	D	-0.6%
UFPT	C	-0.6%
AROC	C	-0.59%
MCY	C	-0.59%
SUPN	C	-0.59%
STBA	B	-0.59%
LNTH	C	-0.59%
SLG	B	-0.59%
DOLE	A	-0.58%
FDP	B	-0.58%
SLVM	B	-0.58%
KBH	B	-0.58%
HSII	C	-0.57%
GMS	C	-0.56%
STRL	B	-0.56%
PRK	C	-0.56%
APPF	D	-0.54%
CEIX	D	-0.54%
CHCO	B	-0.54%
DFIN	B	-0.54%
PI	B	-0.52%
RMR	C	-0.5%
REZI	D	-0.5%
CAL	F	-0.5%
TEX	D	-0.49%
TGNA	C	-0.49%
AMWD	C	-0.49%
EVER	D	-0.49%
IIPR	B	-0.49%
BELFB	C	-0.49%
BTU	D	-0.47%
YOU	B	-0.47%
BXC	D	-0.47%
BLBD	C	-0.46%
VRNT	F	-0.46%
EGBN	C	-0.46%
PINC	C	-0.46%
LPG	F	-0.46%
ADUS	B	-0.46%
DDS	D	-0.45%
PRDO	D	-0.45%
HRMY	B	-0.44%
ESNT	B	-0.44%
PLAB	F	-0.43%
YMAB	C	-0.43%
SPNS	D	-0.42%
CSWI	B	-0.41%
RXST	C	-0.41%
WNC	F	-0.41%
M	F	-0.4%
MTH	B	-0.4%
CCRN	F	-0.39%
ANIP	D	-0.39%
CORT	B	-0.39%
LGND	C	-0.39%
PBF	F	-0.38%
HIW	B	-0.38%
CNXN	B	-0.38%
INMD	D	-0.38%
PRGS	C	-0.37%
TMDX	C	-0.37%
AMR	F	-0.36%
BPMC	D	-0.36%
AVNS	B	-0.36%
GRBK	B	-0.36%
BDC	B	-0.36%
POWL	C	-0.36%
ODP	F	-0.36%
PDM	B	-0.36%
TWI	D	-0.36%
SCS	B	-0.35%
HDSN	D	-0.35%
ASO	C	-0.35%
FBP	C	-0.35%
SIG	C	-0.34%
ATKR	F	-0.34%
CASH	B	-0.33%
BNL	B	-0.33%
LOPE	D	-0.33%
DXC	C	-0.32%
LRN	B	-0.32%
CUZ	B	-0.32%
CVNA	B	-0.32%
MOG.A	B	-0.32%
MATX	C	-0.32%
CRAI	C	-0.32%
QTWO	B	-0.32%
ASC	D	-0.31%
HIMS	D	-0.31%
PRMW	A	-0.31%
CNK	B	-0.31%
TRMK	C	-0.31%
APOG	B	-0.31%
VRNS	C	-0.3%
CMC	D	-0.3%
RDNT	B	-0.3%
TILE	B	-0.3%
AKR	C	-0.3%
IBOC	C	-0.3%
BKE	B	-0.3%
SBRA	B	-0.3%
GEO	F	-0.3%
PFS	B	-0.3%
HUBG	C	-0.29%
GIII	C	-0.29%
BKH	B	-0.29%
PRG	B	-0.28%
PHIN	B	-0.28%
TCMD	C	-0.28%
ATGE	D	-0.28%
VIRT	B	-0.28%
THFF	B	-0.28%
GNK	D	-0.27%
INSW	D	-0.27%
PSN	B	-0.27%
DNOW	D	-0.27%
USLM	B	-0.27%
HURN	C	-0.27%
MD	C	-0.27%
MRVI	C	-0.26%
MED	F	-0.26%
BHE	C	-0.26%
AZZ	C	-0.26%
BKU	C	-0.26%
SIGA	D	-0.25%
ADMA	B	-0.25%
VNDA	D	-0.25%
ITCI	D	-0.25%
IMKTA	D	-0.25%
AMKR	F	-0.25%
HCI	C	-0.25%
SMP	C	-0.24%
IESC	C	-0.24%
CMPR	F	-0.24%
ABG	F	-0.24%
ONTO	F	-0.23%
KN	D	-0.23%
HCC	F	-0.23%
NUS	F	-0.23%
NTCT	D	-0.23%
PRM	B	-0.23%
KELYA	D	-0.23%
STNG	D	-0.22%
DHT	C	-0.22%
PIPR	B	-0.22%
INTA	B	-0.22%
HLX	D	-0.22%
ENS	C	-0.22%
SBH	B	-0.22%
LMAT	B	-0.22%
AXSM	C	-0.21%
WABC	D	-0.21%
NAVI	C	-0.21%
HOV	C	-0.21%
TNC	D	-0.21%
NSSC	F	-0.21%
PK	D	-0.21%
HAE	D	-0.21%
GOGL	D	-0.2%
ADNT	F	-0.2%
NX	D	-0.2%
HY	D	-0.2%
ASGN	D	-0.2%
BLFS	D	-0.2%
SD	D	-0.19%
GES	F	-0.19%
UCTT	F	-0.19%
KRC	B	-0.19%
SXC	F	-0.19%
EXTR	C	-0.19%
VSH	D	-0.19%
VCTR	B	-0.18%
CRDO	D	-0.18%
SCVL	B	-0.18%
AGX	C	-0.17%
SGBX	F	-0.17%
BRC	B	-0.17%
OSCR	B	-0.16%
NVST	D	-0.16%
MAX	C	-0.15%
SCSC	D	-0.15%
CLW	F	-0.15%
HROW	B	-0.15%
CWCO	F	-0.15%
TGTX	B	-0.15%
TPC	C	-0.15%
CECO	D	-0.14%
MOV	F	-0.14%
ALRM	F	-0.14%
TARS	C	-0.14%
INVA	B	-0.13%
AYI	B	-0.13%
CSGS	C	-0.13%
EIG	B	-0.13%
TWST	D	-0.13%
CHRD	F	-0.13%
CGEM	F	-0.13%
METC	F	-0.12%
ASTH	B	-0.12%
SPSC	D	-0.11%
ALKT	D	-0.11%
AIT	C	-0.11%
PCRX	F	-0.11%
YEXT	C	-0.1%
GFF	C	-0.1%
AMCX	F	-0.1%
KRYS	D	-0.09%
RAMP	F	-0.09%
MLKN	D	-0.09%
TPH	C	-0.08%
KTB	B	-0.08%
KSS	F	-0.08%
CTRE	B	-0.08%
JWN	B	-0.07%
NSIT	C	-0.07%
OMI	D	-0.07%
AMN	F	-0.07%
WGO	D	-0.07%
COLL	B	-0.06%
EOLS	C	-0.06%
VSTO	B	-0.06%
ATEN	C	-0.05%
FORM	F	-0.05%
ETH	D	-0.05%
REVG	C	-0.05%
OTTR	D	-0.05%
ANDE	D	-0.05%
SWX	C	-0.05%
CTS	D	-0.05%
PHR	C	-0.05%
GRND	B	-0.05%
APAM	C	-0.05%
HE	F	-0.05%
AMPH	C	-0.05%
FTDR	B	-0.05%
OGS	B	-0.05%
EMBC	C	-0.04%
JBI	F	-0.04%
PGNY	F	-0.04%
LBRT	D	-0.04%
TDC	F	-0.04%
SEMR	C	-0.04%
RYI	F	-0.03%
ACLS	F	-0.03%
VITL	D	-0.03%
SWI	B	-0.03%
ACIW	B	-0.02%
MITK	F	-0.0%
MAIN	C	-0.0%
EPAC	B	-0.0%