RAYD vs. WOMN ETF Comparison

Comparison of The Advisors' Inner Circle Fund III Rayliant Quantitative Developed Market Equity ETF (RAYD) to Impact Shares YWCA Womenas Empowerment ETF (WOMN)

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

WOMN

Impact Shares YWCA Womenas Empowerment ETF

WOMN Description

The investment seeks investment results that, before fees and expenses, track the performance of the Morningstar® Women's Empowerment Index (the "underlying index"). The fund will, under normal circumstances, invest at least 80% of its total assets plus any borrowings for investment purposes (the "80% basket") in component securities of the underlying index. The underlying index is designed to measure the performance of U.S. large and mid- capitalization companies that are "empowering to women," and to exhibit risk and return characteristics similar to those of the Morningstar US Large-Mid Cap ® Index (the "parent index"). The fund is non-diversified.

Grade (RS Rating)

Last Trade

$38.69

Average Daily Volume

3,938

Number of Holdings ^*

198

* may have additional holdings in another (foreign) market

Performance

Period	RAYD	WOMN
30 Days	4.53%	2.89%
60 Days	11.75%	11.15%
90 Days	3.14%	6.45%
12 Months	35.91%	32.50%

31 Overlapping Holdings

Symbol	Grade	Weight in RAYD	Weight in WOMN	Overlap
AAPL	C	5.36%	5.02%	5.02%
ABBV	C	0.49%	1.55%	0.49%
ADP	A	0.51%	0.5%	0.5%
ALL	A	1.03%	0.21%	0.21%
AMZN	C	3.22%	4.47%	3.22%
CL	D	0.81%	0.39%	0.39%
DASH	A	0.23%	0.17%	0.17%
DECK	B	0.45%	0.28%	0.28%
HIG	A	0.29%	0.16%	0.16%
HPQ	B	0.21%	0.36%	0.21%
IBM	A	0.58%	1.64%	0.58%
INTC	D	0.33%	0.81%	0.33%
JNJ	D	0.43%	1.82%	0.43%
LLY	D	1.75%	3.49%	1.75%
LULU	D	0.16%	0.29%	0.16%
MA	A	0.92%	1.77%	0.92%
META	A	1.51%	4.85%	1.51%
MMM	C	0.8%	0.33%	0.33%
MRK	F	0.61%	1.3%	0.61%
MSFT	D	4.92%	2.49%	2.49%
MSI	A	0.45%	0.63%	0.45%
NFLX	A	0.57%	0.72%	0.57%
PG	D	0.59%	1.82%	0.59%
PGR	B	1.11%	0.67%	0.67%
PRU	B	0.44%	0.19%	0.19%
TMUS	A	0.29%	0.36%	0.29%
UBER	C	0.24%	1.22%	0.24%
UNH	B	0.19%	2.47%	0.19%
V	B	0.44%	1.94%	0.44%
VRSK	D	0.52%	0.17%	0.17%
VZ	C	0.21%	0.82%	0.21%

RAYD Overweight 77 Positions Relative to WOMN

Symbol	Grade	Weight
NVDA	B	5.74%
GOOGL	B	2.67%
COST	C	2.4%
BKNG	B	2.22%
EME	B	1.57%
SPOT	C	1.54%
BRBR	A	1.42%
MELI	D	1.26%
T	B	1.16%
MCK	F	1.0%
MO	D	0.95%
SFM	A	0.92%
MUSA	D	0.9%
HCA	C	0.87%
DTM	A	0.87%
NVS	D	0.84%
COKE	C	0.77%
MU	D	0.76%
MORN	B	0.65%
EVR	C	0.64%
PM	D	0.52%
THC	D	0.51%
CVLT	B	0.5%
ANF	D	0.48%
EXEL	B	0.48%
MEDP	F	0.47%
CRWD	D	0.46%
DFS	A	0.42%
PANW	B	0.4%
FICO	C	0.4%
ALNY	C	0.39%
CMG	C	0.37%
GOOG	B	0.37%
WFRD	F	0.36%
APP	A	0.35%
ORI	A	0.34%
RGA	B	0.33%
TEAM	D	0.33%
HRB	C	0.3%
GRMN	D	0.3%
CHKP	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%
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%
DIS	D	0.21%
MANH	A	0.21%
MTG	A	0.21%
LPLA	D	0.21%
TRGP	A	0.2%
UHS	D	0.2%
FANG	D	0.2%
HLI	A	0.2%
RGLD	C	0.2%
MNDY	B	0.19%
UTHR	C	0.19%
FTI	B	0.19%
FTNT	A	0.19%
LMT	A	0.19%
WWD	C	0.18%
DXCM	F	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%

RAYD Underweight 167 Positions Relative to WOMN

Symbol	Grade	Weight
XOM	A	-2.53%
CRM	B	-2.27%
ADBE	F	-2.23%
MCD	A	-2.04%
CSCO	A	-1.92%
ACN	B	-1.9%
INTU	F	-1.56%
NOW	B	-1.42%
CVX	B	-1.31%
KO	C	-1.25%
BAC	B	-1.25%
PEP	F	-1.17%
SBUX	B	-1.03%
WFC	B	-0.95%
GE	B	-0.88%
AMGN	D	-0.82%
WMT	A	-0.73%
UNP	F	-0.71%
SPGI	C	-0.7%
AXP	A	-0.7%
COP	D	-0.65%
MS	A	-0.6%
BLK	A	-0.6%
ELV	F	-0.59%
ETN	B	-0.59%
C	B	-0.56%
REGN	D	-0.55%
VRTX	D	-0.54%
WDAY	D	-0.51%
CI	D	-0.5%
GM	D	-0.49%
AMT	D	-0.49%
MDLZ	D	-0.47%
F	D	-0.46%
GILD	A	-0.46%
ADSK	B	-0.45%
TEL	D	-0.43%
BMY	A	-0.43%
UPS	D	-0.43%
TT	A	-0.39%
EQIX	C	-0.39%
WM	B	-0.37%
TGT	C	-0.36%
MPWR	B	-0.36%
YUM	C	-0.36%
USB	C	-0.35%
PYPL	A	-0.34%
WELL	C	-0.33%
MCO	D	-0.33%
EBAY	A	-0.29%
EMR	B	-0.28%
APD	C	-0.27%
ECL	C	-0.27%
PSX	D	-0.26%
CARR	A	-0.26%
HUBS	D	-0.26%
NEM	C	-0.26%
NSC	C	-0.25%
KEYS	B	-0.25%
ANSS	D	-0.25%
FTV	C	-0.24%
AIG	C	-0.24%
WMB	A	-0.24%
COF	A	-0.24%
D	A	-0.23%
SRE	C	-0.23%
AEP	C	-0.23%
KMB	D	-0.22%
MET	A	-0.22%
JCI	C	-0.22%
BK	A	-0.22%
TYL	D	-0.22%
AMP	A	-0.21%
CMI	A	-0.2%
RSG	D	-0.19%
EXC	C	-0.19%
GIS	C	-0.19%
GWW	B	-0.19%
HPE	B	-0.19%
PEG	A	-0.18%
CTVA	A	-0.18%
PCG	C	-0.18%
PAYX	B	-0.18%
KR	C	-0.17%
BKR	B	-0.17%
DOW	B	-0.17%
OXY	D	-0.17%
BBY	C	-0.16%
KHC	F	-0.16%
ED	C	-0.16%
EA	D	-0.16%
IR	A	-0.16%
CBRE	C	-0.16%
EIX	C	-0.15%
IRM	B	-0.15%
ADM	F	-0.15%
DD	C	-0.15%
XYL	C	-0.15%
EXPE	B	-0.15%
WSM	C	-0.15%
GPN	F	-0.14%
ROK	D	-0.14%
OKTA	F	-0.14%
VST	A	-0.14%
CAH	B	-0.13%
HSY	D	-0.13%
A	B	-0.13%
FITB	C	-0.13%
WTW	C	-0.13%
BIIB	F	-0.13%
PPG	D	-0.13%
IFF	D	-0.12%
ETR	A	-0.12%
DAL	C	-0.12%
VTR	C	-0.11%
SCI	D	-0.11%
EL	D	-0.11%
STT	A	-0.11%
TROW	D	-0.11%
CHD	D	-0.11%
AWK	D	-0.11%
RF	B	-0.1%
RJF	B	-0.1%
PPL	C	-0.1%
CMS	A	-0.09%
SYF	A	-0.09%
BAX	D	-0.09%
OMC	C	-0.09%
BAH	C	-0.09%
INVH	D	-0.09%
K	B	-0.09%
HBAN	B	-0.09%
BMRN	F	-0.08%
CNP	B	-0.08%
KEY	B	-0.08%
DAY	C	-0.08%
PFG	A	-0.08%
PINS	D	-0.08%
NTRS	B	-0.08%
ESS	D	-0.08%
TRU	C	-0.08%
CLX	C	-0.08%
SWK	C	-0.07%
CAG	D	-0.07%
LNT	B	-0.07%
OC	C	-0.07%
LUV	B	-0.07%
DOC	C	-0.07%
HST	D	-0.06%
IPG	D	-0.06%
SJM	D	-0.06%
CE	D	-0.06%
NI	A	-0.06%
ETSY	F	-0.06%
PNR	C	-0.06%
TAP	D	-0.05%
CPB	D	-0.05%
REXR	D	-0.05%
ALB	D	-0.05%
ELS	D	-0.05%
Z	C	-0.04%
CFG	C	-0.04%
PNW	C	-0.04%
MTCH	B	-0.04%
RHI	D	-0.03%
AGR	C	-0.01%
ZG	C	-0.01%