CAMX vs. MARB ETF Comparison

Comparison of The Advisors? Inner Circle Fund Cambiar Aggressive Value ETF (CAMX) to First Trust Merger Arbitrage ETF (MARB)

CAMX

The Advisors? Inner Circle Fund Cambiar Aggressive Value ETF

CAMX Description

Under normal circumstances, the fund primarily invests in equity securities of companies located in the United States. The fund typically invests in a portfolio of 20-30 issuers that Cambiar Investors, the fund"s investment adviser, believes represent the best opportunities for long-term capital appreciation. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$30.26

Average Daily Volume

311

Number of Holdings ^*

* may have additional holdings in another (foreign) market

MARB

First Trust Merger Arbitrage ETF

MARB Description

The investment seeks to provide investors with capital appreciation. Under normal market conditions, the fund seeks to achieve its investment objective by establishing long and short positions in the equity securities of companies that are involved in a publicly-announced significant corporate event, such as a merger or acquisition. It's portfolio may include equity securities issued by U.S. and non-U.S. companies, including American Depositary Receipts (ADRs), and derivatives, including total return swaps. The fund may invest in securities issued by small, mid and large capitalization issuers. It is non-diversified.

Grade (RS Rating)

Last Trade

$19.72

Average Daily Volume

7,030

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CAMX	MARB
30 Days	1.56%	-1.03%
60 Days	3.04%	-1.01%
90 Days	2.19%	-1.64%
12 Months	21.57%	-0.91%

1 Overlapping Holdings

	Symbol	Grade	Weight in CAMX	Weight in MARB	Overlap
	CVX	A	2.53%	-3.56%	-3.56%

CAMX Overweight 23 Positions Relative to MARB

Symbol	Grade	Weight
DAL	B	6.92%
CME	B	5.18%
AL	B	5.05%
BMY	B	4.65%
LH	B	4.59%
CMCSA	B	4.29%
MDT	D	4.19%
GOOGL	C	4.11%
TXN	C	4.0%
ET	A	3.9%
PPG	F	3.63%
UNP	C	3.28%
DEO	F	3.25%
ELV	F	3.01%
ABNB	C	2.94%
UBER	F	2.86%
CNC	D	2.78%
CTVA	C	2.32%
EL	F	2.23%
GS	A	2.01%
WAT	C	1.96%
AXP	A	1.57%
AMAT	F	1.25%

CAMX Underweight 33 Positions Relative to MARB

Symbol	Grade	Weight
HTLF	B	-7.98%
HCP	B	-5.64%
EDR	A	-4.92%
ACI	C	-4.88%
DFS	B	-4.67%
AMED	F	-4.57%
AXNX	A	-4.2%
NAPA	A	-3.99%
ANSS	B	-3.85%
B	A	-3.78%
JNPR	D	-3.65%
EVRI	A	-3.48%
K	A	-3.28%
ESGR	B	-3.18%
CTLT	C	-3.17%
HES	B	-3.07%
VZIO	A	-3.05%
CHX	C	-2.78%
LBPH	A	-2.78%
MGRC	B	-2.75%
FYBR	C	-2.53%
ENV	B	-2.38%
SRDX	B	-2.29%
IBTX	B	-2.21%
RCM	A	-2.07%
MRO	B	-2.03%
WSC	F	--1.0%
COP	C	--2.02%
SNPS	B	--2.21%
SSB	B	--2.22%
SLB	C	--4.15%
COF	C	--5.12%
UMBF	B	--8.33%