AVEM vs. RAYE ETF Comparison

Comparison of Avantis Emerging Markets Equity ETF (AVEM) to The Advisors' Inner Circle Fund III Rayliant Quantamental Emerging Market Equity ETF (RAYE)

AVEM

Avantis Emerging Markets Equity ETF

AVEM Description

The investment seeks long-term capital appreciation. The fund invests primarily in a diverse group of companies related to emerging markets across market sectors, industry groups and countries. The fund may invest in companies of all market capitalizations. Under normal market conditions, the fund will invest at least 80% of its assets in equity securities of companies related to emerging market countries.

Grade (RS Rating)

Last Trade

$60.98

Average Daily Volume

448,404

Number of Holdings ^*

119

* 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

$25.23

Average Daily Volume

5,535

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	AVEM	RAYE
30 Days	-4.03%	-3.02%
60 Days	-2.02%	-4.60%
90 Days	-1.76%	-4.99%
12 Months	14.42%	18.59%

9 Overlapping Holdings

Symbol	Grade	Weight in AVEM	Weight in RAYE	Overlap
BRFS	D	0.06%	0.43%	0.06%
CAR	C	0.06%	0.64%	0.06%
HDB	C	0.52%	0.54%	0.52%
IBN	C	0.42%	1.15%	0.42%
KB	B	0.46%	0.24%	0.24%
KEP	B	0.05%	0.48%	0.05%
KT	A	0.04%	0.24%	0.04%
SHG	D	0.35%	0.21%	0.21%
SKM	D	0.02%	0.41%	0.02%

AVEM Overweight 110 Positions Relative to RAYE

Symbol	Grade	Weight
TSM	B	6.17%
BABA	D	1.46%
PDD	F	0.82%
INFY	B	0.73%
NTES	D	0.64%
PBR	C	0.4%
VALE	F	0.38%
YUMC	C	0.34%
ITUB	F	0.3%
ASX	D	0.29%
UMC	F	0.27%
PKX	F	0.25%
ERJ	B	0.24%
BEKE	D	0.24%
ZTO	F	0.23%
LI	F	0.23%
VIPS	F	0.23%
TCOM	B	0.22%
GFI	D	0.19%
BAP	B	0.19%
QFIN	B	0.19%
RDY	F	0.15%
BBD	D	0.14%
GGB	C	0.14%
CPNG	D	0.14%
HMY	D	0.14%
FMX	F	0.13%
SUZ	C	0.12%
TME	D	0.11%
CHT	D	0.11%
SBS	B	0.1%
TLK	D	0.1%
PAC	B	0.1%
UGP	F	0.08%
ASR	D	0.08%
WIT	A	0.08%
CX	D	0.08%
HTHT	D	0.08%
CIG	C	0.07%
MOMO	D	0.07%
ASAI	F	0.07%
SBSW	D	0.07%
ATHM	D	0.07%
TAL	F	0.07%
SCCO	F	0.07%
OMAB	D	0.07%
FINV	B	0.06%
ABEV	F	0.06%
TKC	C	0.06%
IQ	F	0.05%
DQ	F	0.05%
NU	C	0.05%
SID	F	0.05%
BSAC	F	0.05%
SQM	F	0.05%
BVN	F	0.05%
BCH	F	0.05%
LPL	F	0.05%
STNE	F	0.05%
NIO	F	0.04%
EC	D	0.04%
CIB	B	0.04%
EBR	F	0.04%
SSL	F	0.04%
BIDU	F	0.04%
GDS	C	0.04%
WB	D	0.04%
AKO.A	F	0.03%
PAGS	F	0.03%
YY	C	0.03%
PHI	D	0.03%
MNSO	F	0.03%
BSBR	F	0.03%
TV	F	0.03%
BGNE	D	0.03%
JD	D	0.03%
SGRP	D	0.03%
XP	F	0.02%
LX	C	0.02%
ATAT	C	0.02%
ELP	F	0.02%
VNET	B	0.02%
VLRS	C	0.02%
ASAI	F	0.02%
XPEV	C	0.01%
BAK	F	0.01%
IMOS	F	0.01%
SOHU	F	0.01%
VIV	F	0.01%
CCU	D	0.01%
IFS	B	0.01%
BZ	F	0.01%
CSAN	F	0.01%
NOAH	D	0.01%
XYF	D	0.0%
BILI	D	0.0%
YRD	F	0.0%
CANG	B	0.0%
CAAS	C	0.0%
TUYA	F	0.0%
DAO	B	0.0%
NIU	F	0.0%
SHPH	F	0.0%
GOTU	F	0.0%
AZUL	F	0.0%
QD	C	0.0%
PAX	B	0.0%
PDSB	F	0.0%
API	C	0.0%
HUYA	F	0.0%

AVEM Underweight 2 Positions Relative to RAYE

	Symbol	Grade	Weight
	SBLK	F	-0.9%
	MELI	D	-0.2%