FPA vs. RAYE ETF Comparison

Comparison of First Trust Asia Pacific ex-Japan AlphaDEX Fund (FPA) to The Advisors' Inner Circle Fund III Rayliant Quantamental Emerging Market Equity ETF (RAYE)

FPA

First Trust Asia Pacific ex-Japan AlphaDEX Fund

FPA Description

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the Defined Asia Pacific Ex-Japan Index. The fund normally invests at least 90% of its net assets plus the amount of any borrowings for investment purposes in stocks that comprise the index. The index is a modified equal-dollar weighted index designed by S&P to objectively identify and select stocks from the S&P Asia Pacific Ex-Japan BMI Index that may generate positive alpha relative to traditional passive-style indices through the use of the AlphaDEX(R) selection methodology. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$27.43

Average Daily Volume

1,540

Number of Holdings ^*

* 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

$24.51

Average Daily Volume

13,287

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FPA	RAYE
30 Days	0.81%	0.18%
60 Days	-1.53%	0.18%
90 Days	2.65%	2.81%
12 Months	5.32%	23.12%

3 Overlapping Holdings

Symbol	Grade	Weight in FPA	Weight in RAYE	Overlap
KB	B	1.78%	0.4%	0.4%
KEP	D	1.58%	1.0%	1.0%
SKM	D	1.26%	0.4%	0.4%

FPA Overweight 3 Positions Relative to RAYE

Symbol	Grade	Weight
SHG	C	1.62%
KT	D	1.19%
XRX	F	0.61%

FPA Underweight 6 Positions Relative to RAYE

Symbol	Grade	Weight
IBN	B	-1.33%
HDB	C	-1.04%
VALE	C	-0.47%
MMYT	B	-0.26%
ABEV	D	-0.19%
CAR	D	-0.16%