What is the difference between Refereed/Peer-reviewed journals and Academic/Scholarly journals in Ulrichsweb?

As described in the Ulrichsweb Glossary of Terms, here are the differences between these terms:

Academic/Scholarly: A serial type assigned by Ulrich's to describe the primary audience for the publication. The Academic/Scholarly determination is made by a process combining publisher self-reporting about individual titles and independent research by the Ulrich's Content Operations team.

Refereed/Peer-Reviewed: The terms "refereed" and "peer-reviewed" both refer to the system of critical evaluation of manuscripts/articles by professional colleagues or peers. Multiple types of peer-review (e.g., double-blind, expert) are included under this designation. The content of peer-reviewed publications is sanctioned, vetted, or otherwise approved by a peer-review board, board of referees, or editorial board. The peer-review and evaluation system is utilized to protect, maintain, and raise the quality of scholarly material published in serials. Publications subject to the process are assumed, then, to contain higher quality content than those that are not. The Refereed/Peer-reviewed designation in Ulrich's is assigned at the title level rather than at the article level or platform level.

The Ulrich's Content Operations team gathers information about current peer-reviewed publications directly from publishers or from publisher websites, as well as from individual journal websites. The team attempts to contact each academic or scholarly publisher directly at least once per year, and encourages publishers to update their listings in Ulrich's throughout the year as information about titles becomes available.

During research into publisher-reported peer-reviewed titles, the team searches the publisher's and journal's websites for information about the journal’s peer-review process, editorial policies, and other elements. The information is supplemented by feedback from librarians and individuals (e.g., members of the editorial board) associated with the publication. Until information can be confirmed, Ulrich’s does not display a “Refereed” icon (an image of a sport referee's jersey) for the publication.