SMHB vs. RAYD ETF Comparison

Comparison of ETRACS Monthly Pay 2x Leveraged Small Cap High Dividend ETN Series B (SMHB) to The Advisors' Inner Circle Fund III Rayliant Quantitative Developed Market Equity ETF (RAYD)

SMHB

ETRACS Monthly Pay 2x Leveraged Small Cap High Dividend ETN Series B

SMHB Description

The investment seeks to provide a two times leveraged return linked to the compounded monthly performance of the Solactive US Small Cap High Dividend Index (the “index”). The index is designed to measure the performance of 100 relatively small capitalization, dividend yielding index constituent securities selected from a universe of qualifying U.S. listed equity securities. The Securities are two times leveraged with respect to the index and, as a result, will benefit from two times any beneficial, but will be exposed to two times any adverse, compounded monthly performance of the index.

Grade (RS Rating)

Last Trade

$6.26

Average Daily Volume

38,134

Number of Holdings ^*

* 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

$27.32

Average Daily Volume

3,798

Number of Holdings ^*

104

* may have additional holdings in another (foreign) market

Performance

Period	SMHB	RAYD
30 Days	-0.23%	-1.82%
60 Days	6.23%	1.32%
90 Days	6.83%	4.68%
12 Months	66.47%	21.75%

1 Overlapping Holdings

	Symbol	Grade	Weight in SMHB	Weight in RAYD	Overlap
	XRX	F	4.09%	0.2%	0.2%

SMHB Overweight 90 Positions Relative to RAYD

Symbol	Grade	Weight
SLG	B	4.87%
DTM	A	3.81%
BXMT	D	3.43%
DSS	F	2.87%
TWO	A	2.87%
CIM	D	2.62%
ETRN	B	2.49%
BDN	A	2.41%
BGS	A	2.41%
SBRA	C	2.38%
EPR	C	2.34%
ABR	B	2.21%
APAM	D	2.02%
PAGP	B	1.88%
UNIT	C	1.86%
UWMC	C	1.84%
ARR	D	1.65%
NHI	A	1.64%
ORC	B	1.51%
CCOI	D	1.51%
PSEC	D	1.47%
IVR	B	1.43%
DEA	B	1.35%
PMT	A	1.35%
MFA	B	1.27%
RWT	C	1.24%
CTRE	A	1.16%
PETS	F	1.13%
MAIN	A	1.09%
HTGC	A	1.03%
ARI	D	1.02%
GNL	D	1.01%
FCPT	C	1.0%
EFC	B	1.0%
PDM	B	0.99%
GSBD	A	0.94%
NEWT	F	0.94%
NYMT	D	0.93%
LTC	A	0.91%
DX	C	0.89%
KREF	D	0.8%
VGR	D	0.79%
NWBI	D	0.77%
GBDC	A	0.73%
CODI	D	0.72%
VNOM	B	0.65%
SCS	D	0.65%
RC	B	0.65%
ACRE	D	0.64%
LADR	A	0.62%
TSLX	A	0.62%
HESM	C	0.59%
UVV	A	0.54%
OCSL	B	0.54%
AROC	B	0.53%
GMRE	F	0.5%
ILPT	B	0.49%
BRSP	D	0.49%
WSR	C	0.46%
ALX	B	0.45%
GTY	B	0.44%
OPI	F	0.4%
RMR	A	0.38%
NMFC	A	0.38%
UHT	D	0.36%
GPMT	F	0.34%
CSWC	A	0.34%
GOOD	A	0.33%
FSP	F	0.29%
TRTX	A	0.29%
TCPC	C	0.27%
AHH	B	0.27%
CGBD	A	0.25%
BCSF	A	0.24%
TPVG	D	0.23%
PFLT	B	0.23%
SLRC	A	0.23%
UVE	A	0.22%
BBDC	A	0.22%
KRO	A	0.2%
EBF	C	0.18%
GAIN	A	0.17%
PNNT	A	0.16%
OLP	A	0.16%
FDUS	A	0.16%
GLAD	A	0.15%
BFS	B	0.14%
TRIN	A	0.12%
CCAP	A	0.1%
REPX	F	0.07%

SMHB Underweight 103 Positions Relative to RAYD

Symbol	Grade	Weight
NVDA	C	-5.07%
MSFT	C	-4.34%
AAPL	F	-4.12%
META	D	-2.53%
AMZN	B	-2.49%
BKNG	D	-2.2%
COST	C	-1.87%
LLY	B	-1.57%
MA	D	-1.4%
WFRD	B	-1.23%
EME	A	-1.2%
NVS	B	-1.17%
FG	B	-1.12%
UNH	B	-1.12%
QCOM	C	-1.1%
SPOT	B	-1.08%
STLA	D	-1.03%
CMG	A	-0.98%
MELI	C	-0.94%
BRBR	C	-0.89%
BWLP	D	-0.84%
GOOGL	A	-0.78%
SPNT	C	-0.76%
MCK	A	-0.73%
PANW	B	-0.73%
PAYX	C	-0.73%
CHRD	B	-0.69%
GOOG	A	-0.68%
TJX	C	-0.67%
IDCC	D	-0.65%
EA	D	-0.6%
PG	A	-0.59%
NOW	D	-0.58%
ALL	A	-0.58%
VRSK	C	-0.57%
MUSA	B	-0.56%
MRK	A	-0.55%
INTC	F	-0.54%
ABNB	C	-0.54%
KMB	A	-0.54%
WMT	C	-0.52%
V	C	-0.5%
IBM	D	-0.5%
OTIS	D	-0.48%
ABBV	D	-0.48%
MO	A	-0.47%
DECK	D	-0.46%
CAH	D	-0.46%
TEAM	F	-0.46%
MEDP	B	-0.42%
JHX	D	-0.39%
WMB	A	-0.38%
CBOE	C	-0.33%
QLYS	D	-0.32%
PCAR	D	-0.31%
FICO	D	-0.31%
JNJ	D	-0.3%
GE	A	-0.29%
GRAB	A	-0.29%
VRSN	F	-0.29%
EG	D	-0.28%
GRMN	A	-0.28%
GS	A	-0.27%
TAP	F	-0.27%
MUFG	D	-0.27%
UBER	D	-0.26%
LVS	F	-0.26%
CMCSA	F	-0.25%
PHM	B	-0.25%
TSN	A	-0.25%
STZ	C	-0.24%
WSM	A	-0.24%
CHKP	D	-0.24%
GDDY	A	-0.23%
LOGI	D	-0.23%
MANH	F	-0.23%
AGRO	B	-0.23%
RPRX	D	-0.22%
TEVA	B	-0.22%
VRTX	C	-0.22%
NYT	C	-0.22%
CNC	D	-0.22%
NTNX	C	-0.21%
MOH	F	-0.21%
VST	A	-0.21%
MORN	D	-0.21%
DBX	F	-0.2%
SKX	A	-0.19%
PGR	A	-0.18%
TNET	F	-0.18%
ERIE	C	-0.18%
ANF	C	-0.17%
MNDY	C	-0.17%
NU	C	-0.17%
LULU	F	-0.17%
NBIX	A	-0.17%
MAS	D	-0.16%
MCD	D	-0.16%
CL	A	-0.16%
LDOS	A	-0.16%
AIZ	C	-0.16%
NFLX	D	-0.15%
CRWD	D	-0.15%

SMHB: Top Represented Industries & Keywords

Industries: Asset Management REIT - Diversified REIT - Office REIT - Healthcare Facilities REIT - Retail Oil & Gas Midstream REIT - Residential Credit Services Business Equipment REIT - Industrial Specialty Finance Tobacco Business Services Conglomerates Information Technology Services Insurance - Property & Casualty Oil & Gas E&P Oil & Gas Equipment & Services Packaged Foods Pharmaceutical Retailers