SQLV vs. RAYE ETF Comparison

Comparison of Legg Mason Small-Cap Quality Value ETF (SQLV) to The Advisors' Inner Circle Fund III Rayliant Quantamental Emerging Market Equity ETF (RAYE)

SQLV

Legg Mason Small-Cap Quality Value ETF

SQLV Description

The investment seeks to track the investment results of the RARE Global Infrastructure Index (the "underlying index"). The fund will invest at least 80% of its net assets, plus borrowings for investment purposes, if any, in securities that compose its underlying index. The underlying index is composed of equity securities in developed and developing markets that are included in the MSCI ACWI All Cap Index. Companies in the MSCI ACWI All Cap Index are screened to include only companies within the Global Industry Classification Standard (GICS) sub-industries and are classified into infrastructure sectors.

Grade (RS Rating)

Last Trade

$41.25

Average Daily Volume

1,213

Number of Holdings ^*

227

* may have additional holdings in another (foreign) market

RAYE

The Advisors' Inner Circle Fund III Rayliant Quantamental Emerging Market Equity ETF

RAYE Description

The Advisors' Inner Circle Fund III - Rayliant Quantamental Emerging Market Equity ETF is an exchange traded fund launched by The Advisors Inner Circle Fund III. The fund is managed by Rayliant Investment Research. It invests in public equity markets of global emerging 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 fundamental and quantitative analysis to create its portfolio. The fund employs proprietary and external research to create its portfolio. The Advisors' Inner Circle Fund III - Rayliant Quantamental Emerging Market Equity ETF is domiciled in the United States.

Grade (RS Rating)

Last Trade

$26.19

Average Daily Volume

6,197

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	SQLV	RAYE
30 Days	2.22%	0.89%
60 Days	-0.12%	1.33%
90 Days	7.33%	3.54%
12 Months	13.99%	23.64%

1 Overlapping Holdings

	Symbol	Grade	Weight in SQLV	Weight in RAYE	Overlap
	CAR	F	0.4%	0.41%	0.4%

SQLV Overweight 226 Positions Relative to RAYE

Symbol	Grade	Weight
CCSI	C	0.95%
SWIM	C	0.83%
VGR	C	0.79%
DXC	C	0.79%
EBC	B	0.75%
CALM	B	0.75%
BKE	B	0.75%
VCTR	B	0.74%
ALE	B	0.72%
OMCL	C	0.71%
SLVM	B	0.71%
CATY	C	0.7%
CNS	A	0.7%
NMIH	B	0.7%
AGX	B	0.7%
STBA	C	0.7%
IBOC	C	0.7%
FDP	B	0.69%
PRG	B	0.68%
CEIX	C	0.67%
ASO	C	0.67%
YOU	B	0.67%
TGNA	C	0.66%
KFY	B	0.64%
PAHC	B	0.63%
AX	D	0.63%
APAM	C	0.63%
PETQ	A	0.62%
SANM	D	0.62%
HWKN	C	0.61%
BTU	D	0.61%
ANDE	D	0.61%
IDCC	B	0.61%
CRCT	D	0.61%
LRN	B	0.61%
PFC	C	0.59%
INVA	B	0.58%
INSW	D	0.58%
FHI	B	0.58%
LE	D	0.57%
CVI	F	0.57%
WHD	C	0.57%
CORT	B	0.56%
SCS	C	0.56%
HUBG	C	0.56%
DK	F	0.55%
HAFC	C	0.54%
LGND	C	0.53%
ARCH	D	0.53%
MRVI	C	0.53%
PRDO	D	0.53%
CNXN	B	0.53%
GIII	C	0.53%
ADUS	B	0.52%
ASTH	B	0.52%
TEX	D	0.52%
CRI	C	0.51%
SKYW	C	0.51%
OLPX	C	0.51%
AVNS	B	0.51%
MD	C	0.51%
RMR	C	0.51%
EVC	D	0.5%
PRGS	B	0.5%
WTTR	D	0.5%
ITGR	B	0.5%
FISI	C	0.49%
HRMY	B	0.49%
PFBC	C	0.49%
PBH	B	0.49%
NVST	D	0.49%
PLUS	B	0.48%
MCRI	C	0.48%
WTFC	C	0.48%
VSH	F	0.47%
OSBC	B	0.47%
STRL	C	0.47%
MGNI	C	0.47%
MBWM	C	0.47%
EXTR	C	0.46%
EBF	B	0.46%
WU	F	0.46%
IRDM	D	0.46%
MCB	C	0.45%
CRVL	B	0.44%
THFF	C	0.44%
IOSP	D	0.44%
HBB	B	0.43%
SUPN	D	0.43%
NECB	B	0.43%
LMAT	B	0.43%
WOR	F	0.43%
SPFI	C	0.43%
BXC	D	0.42%
HAE	D	0.42%
TH	C	0.42%
BBW	C	0.42%
JBSS	F	0.42%
BOX	A	0.42%
ACDC	F	0.42%
BELFB	C	0.41%
RLGT	C	0.41%
DHIL	C	0.41%
UIS	C	0.4%
YELP	F	0.4%
ANGO	C	0.4%
NTCT	D	0.4%
NPK	C	0.4%
MSBI	D	0.4%
NTGR	C	0.39%
IIIN	D	0.39%
DAKT	D	0.39%
PKBK	A	0.39%
AMPH	C	0.39%
CTS	D	0.39%
LXU	D	0.39%
NBN	C	0.39%
KFRC	F	0.39%
EVBN	A	0.39%
DFIN	B	0.39%
CIVB	C	0.38%
CVEO	B	0.38%
QUAD	F	0.38%
ROCK	D	0.38%
CPRX	B	0.38%
POWL	C	0.38%
ZD	D	0.38%
UNTY	C	0.37%
COLL	C	0.37%
WINA	D	0.37%
OMI	D	0.37%
RES	F	0.37%
IPGP	F	0.37%
FOR	D	0.37%
LQDT	B	0.37%
SD	F	0.37%
TDC	F	0.36%
REX	D	0.36%
GNE	D	0.36%
DVAX	D	0.36%
RYI	F	0.34%
ASRT	D	0.34%
ODP	F	0.34%
CCRN	F	0.33%
PLAB	D	0.33%
SGH	F	0.33%
SGC	D	0.33%
HSTM	C	0.33%
HCKT	C	0.33%
NX	D	0.32%
PARR	F	0.32%
GIC	D	0.32%
CLW	F	0.32%
RNGR	C	0.32%
AMSWA	C	0.31%
COHU	D	0.31%
PLPC	D	0.31%
IMMR	D	0.31%
SSTK	F	0.31%
WNC	F	0.31%
THRY	D	0.3%
TRDA	F	0.3%
BTMD	D	0.3%
CASS	C	0.3%
RGP	D	0.3%
ATEN	C	0.3%
BSIG	C	0.3%
MPX	D	0.3%
USNA	F	0.3%
ACIC	D	0.3%
JAKK	D	0.3%
NVEC	F	0.28%
IRMD	B	0.28%
IMXI	D	0.28%
FLWS	D	0.28%
SPOK	C	0.28%
MCFT	D	0.27%
MNSB	D	0.26%
UTMD	F	0.26%
KRT	D	0.26%
ANIP	F	0.26%
TWI	D	0.26%
ZIP	D	0.26%
MED	F	0.26%
VREX	F	0.25%
IART	F	0.25%
PKE	C	0.25%
CMT	C	0.24%
HOFT	D	0.24%
PETS	D	0.24%
STAA	F	0.24%
ZEUS	F	0.24%
ANIK	D	0.24%
CCRD	C	0.23%
CTKB	F	0.23%
HTZ	F	0.23%
NATR	F	0.23%
DERM	D	0.22%
TCMD	C	0.22%
DXLG	F	0.22%
VPG	F	0.21%
VRA	F	0.21%
MYPS	F	0.2%
LTRX	D	0.2%
OFLX	D	0.2%
IRWD	F	0.19%
MDXG	F	0.19%
MITK	F	0.19%
EGRX	F	0.19%
TZOO	C	0.19%
OSUR	D	0.18%
PCRX	F	0.18%
NRC	F	0.18%
VYGR	F	0.17%
POWW	F	0.17%
CVGI	F	0.17%
SMLR	F	0.16%
RCMT	D	0.15%
PRTS	F	0.14%
ZYXI	F	0.14%
INTT	F	0.13%
PRCH	F	0.13%
HBCP	B	0.13%
ARCT	F	0.13%
PBYI	F	0.1%
SURG	F	0.03%

SQLV Underweight 7 Positions Relative to RAYE

Symbol	Grade	Weight
IBN	B	-1.1%
KEP	C	-0.78%
SBLK	D	-0.72%
MMYT	B	-0.54%
HDB	C	-0.51%
SKM	A	-0.43%
KT	B	-0.23%