RAYD vs. CLSE ETF Comparison

Comparison of The Advisors' Inner Circle Fund III Rayliant Quantitative Developed Market Equity ETF (RAYD) to Convergence Long/Short Equity ETF (CLSE)

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

$30.66

Average Daily Volume

5,928

Number of Holdings ^*

108

* may have additional holdings in another (foreign) market

CLSE

Convergence Long/Short Equity ETF

CLSE Description

The investment seeks long-term capital growth. The fund seeks to invest, under normal market conditions, at least 80% of its net assets (plus any borrowings for investment purposes) in long and short positions in equity securities of domestic companies. The adviser intends to maintain a net long exposure (the market value of long positions minus the market value of short positions) of approximately 50% to 100%. Under normal market conditions, the fund’s long positions may range from approximately 90% to 150% and its short positions may range from approximately 20% to 70%.

Grade (RS Rating)

Last Trade

$22.30

Average Daily Volume

47,240

Number of Holdings ^*

331

* may have additional holdings in another (foreign) market

Performance

Period	RAYD	CLSE
30 Days	0.54%	2.81%
60 Days	7.77%	8.04%
90 Days	2.96%	2.67%
12 Months	36.04%	38.57%

41 Overlapping Holdings

Symbol	Grade	Weight in RAYD	Weight in CLSE	Overlap
AAPL	C	5.36%	1.95%	1.95%
ABBV	A	0.49%	1.02%	0.49%
ALNY	C	0.39%	0.25%	0.25%
AMZN	C	3.22%	2.37%	2.37%
ANF	F	0.48%	0.24%	0.24%
APP	A	0.35%	1.45%	0.35%
BKNG	C	2.22%	0.26%	0.26%
CVLT	C	0.5%	1.65%	0.5%
DOCU	B	0.22%	1.4%	0.22%
DXCM	F	0.18%	-0.23%	-0.23%
EME	C	1.57%	0.86%	0.86%
GDDY	D	0.25%	1.41%	0.25%
GOOG	B	0.37%	1.26%	0.37%
GOOGL	B	2.67%	3.08%	2.67%
GRMN	D	0.3%	0.09%	0.09%
HRB	C	0.3%	0.0%	0.0%
IBM	B	0.58%	1.43%	0.58%
INTC	D	0.33%	-0.8%	-0.8%
JNJ	D	0.43%	0.91%	0.43%
LDOS	A	0.17%	0.45%	0.17%
LMT	A	0.19%	0.54%	0.19%
LPLA	D	0.21%	-0.37%	-0.37%
META	A	1.51%	3.31%	1.51%
MO	D	0.95%	0.76%	0.76%
MRK	F	0.61%	0.5%	0.5%
MSFT	D	4.92%	1.01%	1.01%
MU	D	0.76%	1.05%	0.76%
MUSA	D	0.9%	0.38%	0.38%
NFLX	A	0.57%	0.31%	0.31%
NRG	A	0.17%	0.69%	0.17%
NTAP	D	0.23%	1.74%	0.23%
NVDA	C	5.74%	3.84%	3.84%
PG	C	0.59%	0.7%	0.59%
PGR	C	1.11%	0.47%	0.47%
RGA	C	0.33%	0.52%	0.33%
RGLD	C	0.2%	0.41%	0.2%
SPOT	B	1.54%	0.14%	0.14%
T	A	1.16%	1.01%	1.01%
THC	C	0.51%	0.86%	0.51%
TSN	D	0.23%	0.53%	0.23%
UHS	D	0.2%	0.78%	0.2%

RAYD Overweight 67 Positions Relative to CLSE

Symbol	Grade	Weight
COST	C	2.4%
LLY	D	1.75%
BRBR	C	1.42%
MELI	C	1.26%
ALL	B	1.03%
MCK	F	1.0%
MA	A	0.92%
SFM	A	0.92%
HCA	B	0.87%
DTM	A	0.87%
NVS	D	0.84%
CL	D	0.81%
MMM	C	0.8%
COKE	B	0.77%
MORN	C	0.65%
EVR	C	0.64%
VRSK	D	0.52%
PM	C	0.52%
ADP	A	0.51%
EXEL	B	0.48%
MEDP	F	0.47%
CRWD	D	0.46%
MSI	A	0.45%
DECK	B	0.45%
V	C	0.44%
PRU	C	0.44%
DFS	C	0.42%
PANW	D	0.4%
FICO	A	0.4%
CMG	C	0.37%
WFRD	F	0.36%
ORI	B	0.34%
TEAM	D	0.33%
CHKP	C	0.29%
HIG	A	0.29%
TMUS	A	0.29%
VEEV	C	0.28%
GS	C	0.28%
VRSN	B	0.27%
WING	B	0.27%
GRAB	B	0.27%
TW	A	0.26%
UBER	C	0.24%
XRX	D	0.23%
ERIE	A	0.23%
DASH	A	0.23%
STX	B	0.22%
LOGI	D	0.22%
HPQ	C	0.21%
VZ	A	0.21%
DIS	D	0.21%
MANH	C	0.21%
MTG	B	0.21%
TRGP	B	0.2%
FANG	D	0.2%
HLI	C	0.2%
MNDY	C	0.19%
UNH	B	0.19%
UTHR	C	0.19%
FTI	B	0.19%
FTNT	A	0.19%
WWD	B	0.18%
DBX	B	0.18%
RPRX	B	0.18%
CYBR	C	0.17%
AER	D	0.17%
LULU	D	0.16%

RAYD Underweight 290 Positions Relative to CLSE

Symbol	Grade	Weight
AVGO	C	-2.7%
QCOM	D	-2.56%
HPE	B	-2.06%
WMT	A	-1.94%
ANET	A	-1.93%
CVNA	A	-1.82%
ORCL	B	-1.46%
HD	A	-1.22%
IDCC	A	-1.17%
ACIW	B	-1.16%
PYPL	C	-1.07%
AMG	B	-1.0%
SNEX	C	-1.0%
JHG	C	-0.97%
NTNX	C	-0.95%
AVT	C	-0.95%
SYF	B	-0.94%
HALO	D	-0.94%
BMY	B	-0.92%
GILD	A	-0.91%
NTRS	C	-0.89%
DVA	C	-0.83%
AMRX	B	-0.83%
OGN	F	-0.83%
BAC	D	-0.8%
MLI	C	-0.78%
VLO	F	-0.77%
SEIC	B	-0.77%
PPC	B	-0.77%
BFH	D	-0.74%
TSLA	C	-0.74%
FTDR	C	-0.73%
JXN	A	-0.71%
CNC	F	-0.7%
BG	F	-0.69%
COR	F	-0.68%
IIPR	C	-0.67%
CHRW	A	-0.67%
ADMA	C	-0.67%
IESC	B	-0.66%
GVA	A	-0.65%
LNG	A	-0.65%
UMBF	C	-0.63%
FITB	C	-0.61%
PATK	C	-0.61%
PNC	C	-0.59%
XOM	A	-0.59%
RF	C	-0.59%
JPM	D	-0.59%
MWA	A	-0.58%
WFC	D	-0.58%
CAH	B	-0.58%
SLVM	C	-0.58%
UNP	D	-0.57%
MTZ	B	-0.57%
VST	A	-0.56%
MET	A	-0.56%
PRIM	C	-0.56%
MATX	C	-0.56%
DVN	F	-0.55%
REZI	D	-0.55%
AVA	D	-0.55%
RTX	A	-0.54%
NEE	A	-0.54%
NEM	C	-0.52%
STRL	B	-0.52%
OSCR	C	-0.52%
GM	D	-0.51%
EXPE	B	-0.5%
PNW	A	-0.48%
CNA	D	-0.47%
ATGE	D	-0.47%
KLAC	B	-0.47%
MDT	B	-0.46%
LNTH	C	-0.46%
CVX	B	-0.45%
EXP	C	-0.44%
MPC	F	-0.44%
CACI	A	-0.44%
SCCO	B	-0.44%
VRT	B	-0.42%
EQR	C	-0.41%
SPG	A	-0.4%
ACT	C	-0.39%
CFG	D	-0.39%
EEFT	F	-0.39%
FCX	B	-0.38%
LAMR	C	-0.36%
CAT	A	-0.36%
ALSN	A	-0.35%
CTRE	B	-0.35%
NSA	C	-0.35%
IBP	B	-0.34%
TOL	A	-0.34%
KBH	C	-0.32%
J	D	-0.32%
STAG	D	-0.32%
ABM	D	-0.32%
SM	F	-0.31%
NVR	A	-0.31%
BCO	C	-0.31%
AMGN	D	-0.28%
GLW	B	-0.28%
OUT	C	-0.27%
CCL	C	-0.25%
JLL	B	-0.25%
ASPN	D	-0.25%
CVS	D	-0.19%
CPNG	C	-0.18%
KMB	B	-0.16%
KR	C	-0.16%
NTRA	A	-0.15%
QQQ	C	-0.0%
ADUS	D	-0.0%
MHO	C	-0.0%
VTRS	D	-0.0%
KNF	C	-0.0%
MRO	D	-0.0%
JOBY	D	--0.04%
CAR	D	--0.06%
PENN	D	--0.07%
PGNY	F	--0.08%
AES	B	--0.08%
MCW	F	--0.09%
CZR	B	--0.09%
BRKR	D	--0.09%
MASI	B	--0.09%
NXST	D	--0.09%
AGL	F	--0.1%
DRVN	B	--0.1%
VAC	D	--0.1%
LGIH	C	--0.1%
HGV	F	--0.1%
AWR	A	--0.1%
VMC	D	--0.11%
HHH	C	--0.11%
ACVA	C	--0.11%
SBUX	B	--0.11%
SJM	C	--0.12%
ALIT	D	--0.12%
JBLU	B	--0.13%
RBLX	C	--0.13%
PCH	C	--0.14%
PPBI	F	--0.14%
MTN	D	--0.14%
EXR	C	--0.15%
MKL	C	--0.15%
KRG	C	--0.15%
COLD	D	--0.15%
DAY	B	--0.15%
AA	B	--0.15%
BIRK	F	--0.15%
PYCR	D	--0.15%
WAL	C	--0.16%
THO	B	--0.16%
WY	B	--0.16%
CC	D	--0.16%
WTRG	D	--0.16%
CHDN	D	--0.16%
OKE	B	--0.17%
OSK	F	--0.17%
AESI	B	--0.17%
ENOV	F	--0.17%
UHAL	A	--0.17%
ALGM	F	--0.17%
BEAM	F	--0.17%
KNSL	D	--0.18%
LUV	B	--0.18%
CHK	D	--0.18%
NTLA	F	--0.18%
TXG	F	--0.18%
VNO	A	--0.18%
HI	F	--0.18%
TFC	D	--0.19%
CINF	A	--0.19%
TTD	C	--0.19%
AJG	D	--0.19%
PNFP	D	--0.19%
LKQ	F	--0.19%
XPO	F	--0.19%
CGON	C	--0.19%
CACC	F	--0.2%
ELF	F	--0.2%
SOFI	C	--0.2%
BE	F	--0.2%
AVAV	B	--0.2%
APD	C	--0.2%
GTLS	F	--0.2%
KROS	B	--0.2%
CNH	B	--0.2%
GATX	F	--0.2%
BANC	D	--0.2%
GPOR	B	--0.21%
COLB	C	--0.21%
EW	F	--0.21%
IRTC	F	--0.21%
MSCI	B	--0.21%
AGCO	D	--0.21%
TREX	D	--0.21%
AIR	D	--0.21%
FLYW	F	--0.22%
WOLF	F	--0.22%
COTY	F	--0.22%
RBA	D	--0.22%
XYL	C	--0.22%
FCNCA	D	--0.22%
WTM	D	--0.22%
UEC	B	--0.22%
ARWR	F	--0.22%
KLIC	D	--0.23%
EL	D	--0.23%
SW	C	--0.24%
RNR	A	--0.24%
SUM	D	--0.24%
BIO	B	--0.24%
AEIS	F	--0.25%
CNX	A	--0.26%
AL	D	--0.26%
HSY	D	--0.26%
C	B	--0.26%
EQT	B	--0.27%
SITE	D	--0.27%
ALB	D	--0.27%
PEN	D	--0.27%
ROIV	D	--0.27%
GMED	D	--0.28%
LW	D	--0.28%
D	A	--0.29%
CELH	F	--0.29%
GE	C	--0.29%
MRNA	F	--0.3%
PSA	C	--0.3%
NEOG	D	--0.3%
PTEN	F	--0.3%
GT	F	--0.3%
APLS	F	--0.31%
SRE	A	--0.31%
MNST	D	--0.31%
VVV	D	--0.31%
ENPH	D	--0.32%
EVTC	D	--0.32%
INSP	B	--0.32%
AUR	C	--0.34%
FDS	C	--0.34%
MKTX	C	--0.34%
ON	F	--0.34%
MARA	F	--0.34%
NDAQ	C	--0.35%
AFRM	C	--0.35%
BRZE	F	--0.36%
APO	A	--0.36%
BA	F	--0.37%
FOUR	B	--0.37%
EXAS	C	--0.38%
LYV	A	--0.38%
RIVN	F	--0.38%
ADBE	F	--0.39%
ZBRA	A	--0.39%
RIOT	F	--0.39%
PATH	D	--0.4%
CYTK	F	--0.41%
WBD	D	--0.42%
SATS	C	--0.43%
BBIO	F	--0.43%
ZI	F	--0.44%
MDB	F	--0.44%
GLOB	B	--0.45%
DLTR	F	--0.45%
CGNX	F	--0.45%
CCOI	B	--0.45%
DV	F	--0.46%
CASY	D	--0.47%
TTWO	F	--0.47%
BILL	D	--0.48%
LBRDK	B	--0.48%
PINS	D	--0.49%
CFLT	F	--0.51%
MCHP	F	--0.52%
FIVE	D	--0.52%
FIVN	F	--0.53%
U	D	--0.53%
RH	C	--0.54%
POOL	B	--0.56%
DELL	C	--0.6%
FND	C	--0.64%
GFS	F	--0.67%
LITE	A	--0.79%
WDC	C	--0.8%
LSCC	D	--0.81%
TXN	C	--0.85%