RAYD vs. PKW ETF Comparison

Comparison of The Advisors' Inner Circle Fund III Rayliant Quantitative Developed Market Equity ETF (RAYD) to PowerShares Buyback Achievers (PKW)

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

$30.60

Average Daily Volume

5,928

Number of Holdings ^*

108

* may have additional holdings in another (foreign) market

PKW

PowerShares Buyback Achievers

PKW Description

The PowerShares Buyback AchieversTM Portfolio (Fund) is based on the NASDAQ US Buyback AchieversTM Index (Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index is designed to track the performance of companies that meet the requirements to be classified as BuyBack Achievers™. To become eligible for inclusion in the Index, a company must be incorporated in the U.S., trade on a US exchange and must have repurchased at least 5% or more of its outstanding shares for the trailing 12 months. The Fund and the Index are reconstituted annually in January and rebalanced quarterly in January, April, July and October. Effective December 28, 2012, the NADAQ OMX Group, Inc. replaced Mergent, Inc., as the Index Provider of the Index. Effective February 25, 2013, the name of the Index changed from Share Buyback Achievers Index to NASDAQ Buyback Achievers Index. There will be no change to the methodology by which NASDAQ OMX Group, Inc., the Index Provider, calculates the Index. Please see the Fund’s prospectus supplement for more information. On February 25, 2013, NASDAQ took the place of the NYSE as the official Index data source.

Grade (RS Rating)

Last Trade

$114.00

Average Daily Volume

14,206

Number of Holdings ^*

190

* may have additional holdings in another (foreign) market

Performance

Period	RAYD	PKW
30 Days	0.54%	2.16%
60 Days	7.77%	7.88%
90 Days	2.96%	10.48%
12 Months	36.04%	31.58%

17 Overlapping Holdings

Symbol	Grade	Weight in RAYD	Weight in PKW	Overlap
APP	A	0.35%	1.18%	0.35%
BKNG	C	2.22%	4.73%	2.22%
DFS	C	0.42%	1.2%	0.42%
GDDY	D	0.25%	0.77%	0.25%
HCA	B	0.87%	3.64%	0.87%
HIG	A	0.29%	1.19%	0.29%
HRB	C	0.3%	0.31%	0.3%
JNJ	D	0.43%	5.11%	0.43%
LMT	A	0.19%	4.77%	0.19%
MCK	F	1.0%	2.24%	1.0%
MTG	B	0.21%	0.24%	0.21%
MUSA	D	0.9%	0.35%	0.35%
ORI	B	0.34%	0.33%	0.33%
THC	C	0.51%	0.56%	0.51%
TMUS	A	0.29%	5.25%	0.29%
VRSK	D	0.52%	1.3%	0.52%
XRX	D	0.23%	0.04%	0.04%

RAYD Overweight 91 Positions Relative to PKW

Symbol	Grade	Weight
NVDA	C	5.74%
AAPL	C	5.36%
MSFT	D	4.92%
AMZN	C	3.22%
GOOGL	B	2.67%
COST	C	2.4%
LLY	D	1.75%
EME	C	1.57%
SPOT	B	1.54%
META	A	1.51%
BRBR	C	1.42%
MELI	C	1.26%
T	A	1.16%
PGR	C	1.11%
ALL	B	1.03%
MO	D	0.95%
MA	A	0.92%
SFM	A	0.92%
DTM	A	0.87%
NVS	D	0.84%
CL	D	0.81%
MMM	C	0.8%
COKE	B	0.77%
MU	D	0.76%
MORN	C	0.65%
EVR	C	0.64%
MRK	F	0.61%
PG	C	0.59%
IBM	B	0.58%
NFLX	A	0.57%
PM	C	0.52%
ADP	A	0.51%
CVLT	C	0.5%
ABBV	A	0.49%
ANF	F	0.48%
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%
PANW	D	0.4%
FICO	A	0.4%
ALNY	C	0.39%
CMG	C	0.37%
GOOG	B	0.37%
WFRD	F	0.36%
RGA	C	0.33%
TEAM	D	0.33%
INTC	D	0.33%
GRMN	D	0.3%
CHKP	C	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%
ERIE	A	0.23%
TSN	D	0.23%
NTAP	D	0.23%
DASH	A	0.23%
STX	B	0.22%
DOCU	B	0.22%
LOGI	D	0.22%
HPQ	C	0.21%
VZ	A	0.21%
DIS	D	0.21%
MANH	C	0.21%
LPLA	D	0.21%
TRGP	B	0.2%
UHS	D	0.2%
FANG	D	0.2%
HLI	C	0.2%
RGLD	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%
DXCM	F	0.18%
DBX	B	0.18%
RPRX	B	0.18%
CYBR	C	0.17%
AER	D	0.17%
NRG	A	0.17%
LDOS	A	0.17%
LULU	D	0.16%

RAYD Underweight 173 Positions Relative to PKW

Symbol	Grade	Weight
CMCSA	B	-4.75%
DE	A	-3.86%
PYPL	C	-2.78%
MAR	B	-2.37%
CSX	D	-2.28%
ORLY	A	-2.26%
AFL	A	-2.14%
MET	A	-1.99%
MPC	F	-1.98%
HLT	A	-1.93%
PSX	D	-1.9%
AZO	D	-1.78%
AIG	F	-1.69%
VLO	F	-1.51%
CNC	F	-1.38%
VST	A	-1.33%
DD	B	-1.21%
PHM	A	-1.03%
CAH	B	-0.93%
STT	C	-0.92%
BLDR	B	-0.82%
CSL	A	-0.72%
SYF	B	-0.68%
STLD	B	-0.65%
CFG	D	-0.64%
EXPE	B	-0.63%
EXPD	C	-0.61%
L	D	-0.6%
TXT	F	-0.57%
TOL	A	-0.54%
EQH	C	-0.47%
JEF	A	-0.45%
WMS	D	-0.41%
MGM	D	-0.4%
CACI	A	-0.38%
PAG	D	-0.37%
BRKR	D	-0.35%
FOXA	A	-0.33%
EXP	C	-0.33%
PRI	A	-0.31%
DINO	F	-0.3%
CNM	F	-0.29%
BERY	C	-0.27%
WSC	D	-0.26%
NSIT	B	-0.24%
MTN	D	-0.24%
ARW	C	-0.24%
AN	C	-0.24%
KBH	C	-0.23%
CHH	B	-0.22%
RH	C	-0.22%
WH	C	-0.22%
R	C	-0.22%
BYD	C	-0.21%
COOP	B	-0.2%
PVH	F	-0.19%
NXST	D	-0.19%
BC	D	-0.19%
AMG	B	-0.19%
GPI	C	-0.18%
OLN	D	-0.18%
VVV	D	-0.18%
SM	F	-0.17%
SLM	C	-0.17%
CNX	A	-0.17%
TNET	F	-0.17%
ABG	D	-0.16%
DDS	D	-0.16%
EEFT	F	-0.16%
MATX	C	-0.16%
ASGN	D	-0.15%
ASO	D	-0.15%
ASH	F	-0.15%
HUN	B	-0.14%
GOLF	F	-0.14%
WU	D	-0.14%
CRC	B	-0.13%
NSA	C	-0.13%
DOCN	C	-0.13%
DXC	D	-0.13%
HGV	F	-0.13%
SLVM	C	-0.12%
FBP	D	-0.12%
GFF	C	-0.12%
IDCC	A	-0.12%
LBRT	F	-0.12%
CVCO	B	-0.12%
CAR	D	-0.11%
ATKR	F	-0.11%
SEB	D	-0.11%
TNL	B	-0.11%
PK	D	-0.11%
HP	F	-0.11%
SKYW	B	-0.11%
CEIX	B	-0.1%
DEI	A	-0.1%
ATGE	D	-0.1%
BTU	B	-0.1%
GNW	C	-0.1%
TGNA	B	-0.09%
CARG	C	-0.09%
VAC	D	-0.09%
AZTA	F	-0.09%
SPB	C	-0.09%
BHF	F	-0.09%
VIRT	B	-0.09%
AMR	F	-0.09%
ENVA	D	-0.08%
HURN	D	-0.07%
PRG	C	-0.07%
JBGS	C	-0.06%
PZZA	D	-0.06%
PEB	D	-0.06%
CASH	D	-0.06%
AMN	F	-0.06%
NAVI	D	-0.06%
IART	F	-0.05%
CSGS	C	-0.05%
LILAK	D	-0.05%
XHR	B	-0.05%
GBX	C	-0.05%
HTZ	F	-0.04%
SBSI	D	-0.04%
ODP	F	-0.04%
INVA	B	-0.04%
CNNE	F	-0.04%
EIG	B	-0.04%
SAH	D	-0.04%
DK	F	-0.04%
PLAY	D	-0.04%
ECVT	F	-0.03%
STGW	B	-0.03%
DXPE	C	-0.03%
SCHL	F	-0.03%
JACK	F	-0.03%
CGEM	F	-0.03%
ANAB	D	-0.03%
ATSG	B	-0.03%
LSEA	D	-0.02%
CCRN	F	-0.02%
FPI	D	-0.02%
OPY	D	-0.02%
NFBK	D	-0.02%
LXU	B	-0.02%
HONE	D	-0.02%
SNCY	D	-0.02%
IMXI	F	-0.02%
NR	F	-0.02%
RYI	F	-0.02%
KELYA	D	-0.02%
EGBN	B	-0.02%
LQDT	C	-0.02%
PRA	B	-0.02%
LPRO	D	-0.02%
HCKT	C	-0.02%
ZIP	D	-0.02%
CHGG	F	-0.01%
SKIN	D	-0.01%
MX	F	-0.01%
MBI	F	-0.01%
TASK	F	-0.01%
ONTF	F	-0.01%
ZYXI	D	-0.01%
WSBF	D	-0.01%
GCO	F	-0.01%
RLGT	C	-0.01%
LWAY	B	-0.01%
SENEA	C	-0.01%
DBI	F	-0.01%
DENN	D	-0.01%
NECB	C	-0.01%
TBPH	F	-0.01%
LOCO	C	-0.01%