MTUM vs. RAYD ETF Comparison

Comparison of iShares MSCI USA Momentum Factor ETF (MTUM) to The Advisors' Inner Circle Fund III Rayliant Quantitative Developed Market Equity ETF (RAYD)

MTUM

iShares MSCI USA Momentum Factor ETF

MTUM Description

The investment seeks to track the performance of an index that measures the performance of U.S. large- and mid-capitalization stocks exhibiting relatively higher momentum characteristics, before fees and expenses. The fund generally invests at least 90% of its assets in the securities of the underlying index or in depositary receipts representing securities in its underlying index. The MSCI USA Momentum Index (the "underlying index") consists of stocks exhibiting relatively higher momentum characteristics than the traditional market capitalization-weighted parent index, the MSCI USA Index, which includes U.S. large- and mid-capitalization stocks.

Grade (RS Rating)

Last Trade

$214.91

Average Daily Volume

840,198

Number of Holdings ^*

124

* 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	MTUM	RAYD
30 Days	3.53%	4.23%
60 Days	6.25%	5.09%
90 Days	8.85%	6.59%
12 Months	43.02%	37.58%

28 Overlapping Holdings

Symbol	Grade	Weight in MTUM	Weight in RAYD	Overlap
ALL	A	0.41%	0.82%	0.41%
ALNY	D	0.3%	0.36%	0.3%
APP	B	0.74%	0.74%	0.74%
CL	D	0.79%	0.95%	0.79%
COST	B	3.63%	2.39%	2.39%
DFS	B	0.38%	0.51%	0.38%
ERIE	D	0.13%	0.16%	0.13%
FICO	B	0.6%	0.47%	0.47%
GDDY	A	0.34%	0.29%	0.29%
GRMN	B	0.42%	0.35%	0.35%
GS	A	2.0%	0.33%	0.33%
HIG	B	0.46%	0.28%	0.28%
LDOS	C	0.24%	0.21%	0.21%
LLY	F	3.82%	1.51%	1.51%
LMT	D	1.37%	0.45%	0.45%
MCO	B	0.7%	0.29%	0.29%
MMM	D	1.21%	1.18%	1.18%
MO	A	1.19%	1.32%	1.19%
MSI	B	1.0%	0.79%	0.79%
NRG	B	0.27%	0.16%	0.16%
NTAP	C	0.31%	0.21%	0.21%
NVDA	C	5.34%	5.62%	5.34%
PGR	A	1.88%	1.11%	1.11%
PM	B	2.93%	0.79%	0.79%
RMD	C	0.29%	0.21%	0.21%
TRGP	B	0.61%	0.6%	0.6%
UHS	D	0.11%	0.16%	0.11%
UTHR	C	0.15%	0.2%	0.15%

MTUM Overweight 96 Positions Relative to RAYD

Symbol	Grade	Weight
JPM	A	5.48%
WMT	A	4.93%
AVGO	D	4.72%
GE	D	2.96%
KO	D	2.71%
NEE	D	2.24%
RTX	C	2.19%
TXN	C	1.86%
ISRG	A	1.54%
AXP	A	1.53%
KKR	A	1.3%
BSX	B	1.25%
ANET	C	1.17%
SO	D	1.15%
TT	A	1.13%
CEG	D	1.12%
TJX	A	1.09%
C	A	1.08%
PLTR	B	1.02%
APH	A	0.97%
VRTX	F	0.95%
CTAS	B	0.91%
FI	A	0.9%
CB	C	0.9%
MSTR	C	0.89%
DUK	C	0.88%
WELL	A	0.84%
VST	B	0.82%
KLAC	D	0.8%
NEM	D	0.79%
AFL	B	0.78%
HWM	A	0.73%
ICE	C	0.72%
TDG	D	0.7%
VRT	B	0.63%
WMB	A	0.63%
AJG	B	0.59%
PEG	A	0.5%
DELL	C	0.49%
BK	A	0.48%
IRM	D	0.48%
PWR	A	0.43%
AEP	D	0.4%
EME	C	0.38%
DHI	D	0.37%
RSG	A	0.36%
ACGL	D	0.35%
CBRE	B	0.34%
TPL	A	0.33%
WAB	B	0.33%
AXON	A	0.32%
VTR	C	0.31%
VLTO	D	0.31%
PHM	D	0.31%
KDP	D	0.3%
AVB	B	0.29%
K	A	0.29%
NDAQ	A	0.28%
LEN	D	0.28%
BRO	B	0.27%
EIX	B	0.26%
EBAY	D	0.25%
FITB	A	0.25%
MPWR	F	0.24%
LII	A	0.24%
TYL	B	0.23%
CSL	C	0.23%
NVR	D	0.23%
SW	A	0.22%
SYF	B	0.22%
DOV	A	0.22%
EQR	B	0.17%
PKG	A	0.16%
IFF	D	0.16%
HEI	B	0.16%
ESS	B	0.15%
IP	B	0.15%
HOOD	B	0.15%
HEI	B	0.12%
MAA	B	0.12%
CFG	B	0.11%
DKS	C	0.1%
DGX	A	0.09%
NI	A	0.09%
FNF	B	0.08%
AMCR	D	0.08%
DOC	D	0.08%
FOXA	B	0.07%
CPT	B	0.07%
FOX	A	0.07%
DVA	B	0.07%
CHRW	C	0.06%
ALLY	C	0.06%
UDR	B	0.05%
LNT	A	0.05%
EQH	B	0.03%

MTUM Underweight 83 Positions Relative to RAYD

Symbol	Grade	Weight
AAPL	C	-5.42%
MSFT	F	-4.67%
AMZN	C	-3.47%
GOOGL	C	-2.82%
SPOT	B	-2.2%
BKNG	A	-1.88%
BRBR	A	-1.62%
META	D	-1.48%
MELI	D	-1.39%
MCK	B	-1.25%
SFM	A	-1.19%
T	A	-1.15%
COKE	C	-0.99%
HCA	F	-0.98%
MUSA	A	-0.92%
CVLT	B	-0.87%
ADP	B	-0.86%
THC	D	-0.8%
EVR	B	-0.72%
MORN	B	-0.68%
MU	D	-0.66%
NFLX	A	-0.64%
EXEL	B	-0.63%
DASH	A	-0.62%
FTNT	C	-0.58%
HRB	D	-0.56%
COR	B	-0.56%
CRWD	B	-0.55%
PG	A	-0.54%
MRK	F	-0.51%
TEAM	A	-0.49%
ANF	C	-0.48%
MTG	C	-0.48%
V	A	-0.48%
WING	D	-0.45%
PANW	C	-0.45%
DECK	A	-0.43%
ABBV	D	-0.42%
JNJ	D	-0.39%
GOOG	C	-0.39%
RBLX	C	-0.38%
CMG	B	-0.36%
GM	B	-0.35%
WFRD	D	-0.35%
ORI	A	-0.35%
GRAB	B	-0.34%
TMUS	B	-0.34%
ZM	B	-0.34%
CAH	B	-0.33%
TXRH	C	-0.33%
INTC	D	-0.33%
NOW	A	-0.32%
GWRE	A	-0.31%
VEEV	C	-0.3%
CNA	B	-0.29%
SMAR	A	-0.29%
AZO	C	-0.29%
LPLA	A	-0.28%
VRSN	F	-0.26%
DOCU	A	-0.26%
CHKP	D	-0.25%
HSBH	B	-0.24%
HLI	B	-0.23%
LPX	B	-0.23%
TSN	B	-0.23%
DIS	B	-0.22%
XRX	F	-0.22%
UBER	D	-0.21%
HPQ	B	-0.2%
MANH	D	-0.2%
FTI	A	-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%
WWD	B	-0.17%
MNDY	C	-0.16%
AER	B	-0.16%
CYBR	B	-0.16%
RPRX	D	-0.16%