BFOR vs. RAYD ETF Comparison

Comparison of Barron's 400 (BFOR) to The Advisors' Inner Circle Fund III Rayliant Quantitative Developed Market Equity ETF (RAYD)

BFOR

Barron's 400

BFOR Description

The investment seeks investment results that correspond generally, before fees and expenses, to the performance of the Barron's 400 Index (the "underlying index"). The underlying index is a rules-based index intended to give investors a means of tracking the overall performance of high performing equity securities of U.S. companies. The fund will invest at least 80% of its total assets in the equity securities which comprise the index. The underlying index's stocks are constituents of the MarketGrader U.S. Coverage Universe.

Grade (RS Rating)

Last Trade

$78.80

Average Daily Volume

4,071

Number of Holdings ^*

388

* may have additional holdings in another (foreign) market

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

$32.43

Average Daily Volume

4,090

Number of Holdings ^*

111

* may have additional holdings in another (foreign) market

Performance

Period	BFOR	RAYD
30 Days	9.34%	4.23%
60 Days	10.13%	5.09%
90 Days	11.66%	6.59%
12 Months	38.09%	37.58%

52 Overlapping Holdings

Symbol	Grade	Weight in BFOR	Weight in RAYD	Overlap
AAPL	C	0.24%	5.42%	0.24%
ADP	B	0.25%	0.86%	0.25%
ALL	A	0.24%	0.82%	0.24%
AMZN	C	0.26%	3.47%	0.26%
ANF	C	0.25%	0.48%	0.25%
APP	B	0.56%	0.74%	0.56%
BKNG	A	0.28%	1.88%	0.28%
CL	D	0.2%	0.95%	0.2%
CMG	B	0.24%	0.36%	0.24%
CNA	B	0.22%	0.29%	0.22%
COKE	C	0.21%	0.99%	0.21%
COR	B	0.23%	0.56%	0.23%
COST	B	0.23%	2.39%	0.23%
CVLT	B	0.26%	0.87%	0.26%
DECK	A	0.26%	0.43%	0.26%
EXEL	B	0.29%	0.63%	0.29%
FTI	A	0.26%	0.2%	0.2%
FTNT	C	0.28%	0.58%	0.28%
GDDY	A	0.28%	0.29%	0.28%
GOOGL	C	0.26%	2.82%	0.26%
HIG	B	0.23%	0.28%	0.23%
HRB	D	0.21%	0.56%	0.21%
JNJ	D	0.21%	0.39%	0.21%
LLY	F	0.19%	1.51%	0.19%
LPX	B	0.26%	0.23%	0.23%
MANH	D	0.24%	0.2%	0.2%
MCO	B	0.23%	0.29%	0.23%
META	D	0.24%	1.48%	0.24%
MMM	D	0.22%	1.18%	0.22%
MSFT	F	0.23%	4.67%	0.23%
MSI	B	0.26%	0.79%	0.26%
NFLX	A	0.28%	0.64%	0.28%
NRG	B	0.26%	0.16%	0.16%
NTAP	C	0.23%	0.21%	0.21%
NVDA	C	0.29%	5.62%	0.29%
PANW	C	0.27%	0.45%	0.27%
PGR	A	0.23%	1.11%	0.23%
RMD	C	0.21%	0.21%	0.21%
SFM	A	0.3%	1.19%	0.3%
THC	D	0.23%	0.8%	0.23%
TMUS	B	0.27%	0.34%	0.27%
TRGP	B	0.29%	0.6%	0.29%
TXRH	C	0.28%	0.33%	0.28%
UHS	D	0.19%	0.16%	0.16%
UTHR	C	0.25%	0.2%	0.2%
V	A	0.24%	0.48%	0.24%
VEEV	C	0.24%	0.3%	0.24%
VRSN	F	0.23%	0.26%	0.23%
WFRD	D	0.21%	0.35%	0.21%
WING	D	0.19%	0.45%	0.19%
WWD	B	0.24%	0.17%	0.17%
ZM	B	0.28%	0.34%	0.28%

BFOR Overweight 336 Positions Relative to RAYD

Symbol	Grade	Weight
LEU	C	0.45%
UAL	A	0.41%
POWL	C	0.4%
IESC	B	0.38%
AGX	B	0.38%
USLM	A	0.38%
TPL	A	0.37%
PLTR	B	0.37%
AXON	A	0.36%
UPWK	B	0.34%
PAY	B	0.34%
STRL	B	0.33%
RCL	A	0.32%
VRT	B	0.32%
AAON	B	0.32%
APO	B	0.32%
PAYO	A	0.32%
CORT	B	0.32%
RMBS	C	0.31%
ALSN	B	0.31%
RJF	A	0.31%
IDCC	A	0.31%
WFC	A	0.31%
EXPE	B	0.31%
CCL	B	0.31%
SYF	B	0.31%
IBKR	A	0.31%
AIT	A	0.3%
PCTY	B	0.3%
PAYC	B	0.3%
PEGA	A	0.3%
DOCS	C	0.3%
TILE	B	0.3%
AMP	A	0.29%
FLEX	A	0.29%
NEWT	B	0.29%
SUM	B	0.29%
FIX	A	0.29%
SNA	A	0.29%
BKR	B	0.29%
HLNE	B	0.29%
MCB	B	0.29%
SKWD	A	0.29%
MLI	C	0.29%
CEIX	A	0.29%
UNM	A	0.29%
EWBC	A	0.29%
LRN	A	0.28%
PYPL	B	0.28%
BBW	B	0.28%
BL	B	0.28%
QCRH	A	0.28%
EME	C	0.28%
WMB	A	0.28%
PPC	C	0.28%
CRS	A	0.28%
TGTX	B	0.28%
APOG	B	0.28%
AX	A	0.28%
MTB	A	0.28%
CW	B	0.27%
DAKT	B	0.27%
IBOC	A	0.27%
UTI	A	0.27%
ODFL	B	0.27%
FAST	B	0.27%
MTDR	B	0.27%
PFBC	B	0.27%
NOG	A	0.27%
QLYS	C	0.27%
BY	B	0.27%
CASH	A	0.27%
NTRS	A	0.27%
WT	B	0.27%
FOUR	B	0.27%
NRP	B	0.27%
HWM	A	0.27%
ERII	D	0.27%
HCKT	B	0.27%
USAP	B	0.27%
CSWI	A	0.27%
MWA	B	0.27%
FOX	A	0.27%
AWI	A	0.27%
CPAY	A	0.27%
FITB	A	0.26%
IBCP	B	0.26%
WHD	B	0.26%
BFC	B	0.26%
WABC	B	0.26%
FFIV	B	0.26%
PODD	C	0.26%
EA	A	0.26%
ACIW	B	0.26%
ITT	A	0.26%
HCI	C	0.26%
MGY	A	0.26%
FN	D	0.26%
CMPO	A	0.26%
URI	B	0.26%
TDY	B	0.26%
CEG	D	0.26%
ADSK	A	0.26%
LOPE	B	0.26%
OZK	B	0.26%
CUBI	C	0.26%
PEBO	A	0.26%
NIC	B	0.26%
ATR	B	0.26%
ACMR	F	0.26%
OKE	A	0.26%
ARLP	A	0.26%
AMAL	B	0.26%
FTDR	A	0.26%
APH	A	0.26%
PH	A	0.26%
TRN	C	0.26%
FULT	A	0.26%
OII	B	0.26%
CNO	A	0.26%
FCNCA	A	0.26%
CPRT	A	0.26%
G	B	0.26%
CHTR	C	0.26%
RL	B	0.26%
JPM	A	0.26%
MLR	B	0.26%
ORRF	B	0.26%
BR	A	0.25%
XOM	B	0.25%
DCI	B	0.25%
SLVM	B	0.25%
MRO	B	0.25%
TW	A	0.25%
PAYX	C	0.25%
ISRG	A	0.25%
RBA	A	0.25%
AXP	A	0.25%
HUBB	B	0.25%
VIRT	B	0.25%
REVG	B	0.25%
ANET	C	0.25%
CINF	A	0.25%
WLDN	D	0.25%
YELP	C	0.25%
FIZZ	C	0.25%
PLMR	B	0.25%
WTS	B	0.25%
IPAR	B	0.25%
BELFB	C	0.25%
SRCE	B	0.25%
LAUR	A	0.25%
ORCL	B	0.25%
WDAY	B	0.25%
MLM	B	0.25%
CAT	B	0.25%
IRMD	C	0.25%
APD	A	0.25%
FDS	B	0.25%
FCF	A	0.25%
INGR	B	0.25%
MCRI	A	0.25%
ADMA	B	0.25%
MBWM	B	0.25%
DBX	B	0.25%
SM	B	0.25%
OSBC	A	0.25%
EXP	A	0.25%
AIZ	A	0.25%
LKFN	B	0.25%
EOG	A	0.25%
HES	B	0.25%
TCMD	A	0.25%
CBT	C	0.24%
XPEL	C	0.24%
CME	A	0.24%
FBP	B	0.24%
RGA	A	0.24%
CTSH	B	0.24%
EPD	A	0.24%
FMBH	B	0.24%
DT	C	0.24%
FANG	D	0.24%
HEI	B	0.24%
TBBK	B	0.24%
BRO	B	0.24%
AMPY	C	0.24%
FSS	B	0.24%
IT	C	0.24%
DRI	B	0.24%
CTAS	B	0.24%
PLAB	C	0.24%
OSIS	B	0.24%
HNI	B	0.24%
MOD	A	0.24%
MPLX	A	0.24%
ET	A	0.24%
MA	C	0.24%
HWKN	B	0.24%
CPRX	C	0.24%
GGG	B	0.24%
SIG	B	0.24%
CQP	B	0.24%
CASY	A	0.24%
CF	B	0.24%
CSL	C	0.24%
DOV	A	0.24%
TSCO	D	0.23%
SSNC	B	0.23%
MPC	D	0.23%
STBA	B	0.23%
CACI	D	0.23%
DVN	F	0.23%
TEX	D	0.23%
DY	D	0.23%
CHWY	B	0.23%
NYT	C	0.23%
WEC	A	0.23%
NBIX	C	0.23%
AFL	B	0.23%
OFG	B	0.23%
BRC	D	0.23%
OTTR	C	0.23%
TJX	A	0.23%
CHDN	B	0.23%
TGT	F	0.23%
NOV	C	0.23%
LNN	B	0.23%
LII	A	0.23%
TRIN	A	0.23%
WRB	A	0.23%
SCCO	F	0.23%
COOP	B	0.23%
TOL	B	0.23%
GL	B	0.23%
ZBH	C	0.23%
JWN	C	0.23%
ADBE	C	0.23%
THR	B	0.23%
CHD	B	0.23%
BMI	B	0.23%
KNSL	B	0.23%
SBR	B	0.23%
SYK	C	0.23%
CWCO	C	0.22%
CBOE	B	0.22%
HESM	B	0.22%
TPH	D	0.22%
ON	D	0.22%
IBM	C	0.22%
WES	C	0.22%
SHOO	D	0.22%
IMMR	C	0.22%
UFPT	B	0.22%
MSA	D	0.22%
NEU	C	0.22%
JKHY	D	0.22%
BLDR	D	0.22%
SO	D	0.22%
EBAY	D	0.22%
RNR	C	0.22%
SPGI	C	0.22%
SYY	B	0.22%
BURL	A	0.22%
NVR	D	0.22%
KOS	F	0.22%
FDX	B	0.22%
AMAT	F	0.22%
ROL	B	0.22%
ECL	D	0.22%
QCOM	F	0.22%
YETI	C	0.22%
MBIN	D	0.21%
SKX	D	0.21%
ZTS	D	0.21%
VITL	D	0.21%
WSM	B	0.21%
VAL	D	0.21%
PHM	D	0.21%
XYL	D	0.21%
KMB	D	0.21%
IBP	D	0.21%
TH	C	0.21%
APA	D	0.21%
EGY	D	0.21%
FC	F	0.21%
ROST	C	0.21%
MHO	D	0.21%
AMPH	D	0.21%
HOLX	D	0.21%
DVA	B	0.21%
MEDP	D	0.21%
PEP	F	0.21%
NSSC	D	0.21%
BMRN	D	0.21%
VLTO	D	0.21%
IPG	D	0.21%
DKS	C	0.21%
LEN	D	0.21%
EG	C	0.21%
MOH	F	0.2%
HALO	F	0.2%
HOG	D	0.2%
IQV	D	0.2%
FCN	D	0.2%
YOU	D	0.2%
KLAC	D	0.2%
BOOT	D	0.2%
GRBK	D	0.2%
ONTO	D	0.2%
ACGL	D	0.2%
FMC	D	0.2%
DFIN	D	0.2%
WMS	D	0.2%
HSY	F	0.2%
HY	D	0.2%
PTGX	C	0.2%
AKAM	D	0.2%
AOS	F	0.2%
COLL	F	0.19%
DFH	D	0.19%
FSLR	F	0.19%
DHI	D	0.19%
INSW	F	0.19%
LNW	D	0.19%
HRMY	D	0.19%
HRTG	C	0.18%
SIGA	F	0.18%
CRUS	D	0.18%
CROX	D	0.17%
LNTH	D	0.17%
BLBD	D	0.17%
TDW	F	0.16%
MPWR	F	0.15%
ASC	F	0.15%
REGN	F	0.15%

BFOR Underweight 59 Positions Relative to RAYD

Symbol	Grade	Weight
SPOT	B	-2.2%
BRBR	A	-1.62%
MELI	D	-1.39%
MO	A	-1.32%
MCK	B	-1.25%
T	A	-1.15%
HCA	F	-0.98%
MUSA	A	-0.92%
PM	B	-0.79%
EVR	B	-0.72%
MORN	B	-0.68%
MU	D	-0.66%
DASH	A	-0.62%
CRWD	B	-0.55%
PG	A	-0.54%
DFS	B	-0.51%
MRK	F	-0.51%
TEAM	A	-0.49%
MTG	C	-0.48%
FICO	B	-0.47%
LMT	D	-0.45%
ABBV	D	-0.42%
GOOG	C	-0.39%
RBLX	C	-0.38%
ALNY	D	-0.36%
GM	B	-0.35%
ORI	A	-0.35%
GRMN	B	-0.35%
GRAB	B	-0.34%
CAH	B	-0.33%
GS	A	-0.33%
INTC	D	-0.33%
NOW	A	-0.32%
GWRE	A	-0.31%
SMAR	A	-0.29%
AZO	C	-0.29%
LPLA	A	-0.28%
DOCU	A	-0.26%
CHKP	D	-0.25%
HSBH	B	-0.24%
HLI	B	-0.23%
TSN	B	-0.23%
DIS	B	-0.22%
XRX	F	-0.22%
LDOS	C	-0.21%
UBER	D	-0.21%
HPQ	B	-0.2%
LOGI	D	-0.19%
RGLD	C	-0.19%
UNH	C	-0.19%
LULU	C	-0.18%
VZ	C	-0.18%
DXCM	D	-0.18%
STX	D	-0.18%
MNDY	C	-0.16%
AER	B	-0.16%
CYBR	B	-0.16%
RPRX	D	-0.16%
ERIE	D	-0.16%