It is a particular case of ContainsAll(): it returns true if all the values is found and are the only values of the list; it is somehow a strengthened AND operator.
Use-case
Filtering rows with multiple columns value over a list of possible values.
Find all Tasks that are only tagged productandstrategy(and no other tags)
Only Product AND Strategy
4
Task
Tags
Task
Tags
1
Trip to Mars
product
strategy
2
Trip to the Moon
product
strategy
No results from filter
Formula
Note that this can be misleading for list equality: we should interpret as “the elements of the values are the only one in the list”.
However, lists can have duplicate items; so look at the different scenarios: