Issue with ANY(Select(... formula

[1minManager]

I have this formula:

ANY(Select([Related Peoples][Email],[Label]=[_ThisRow].[Training Contact]))

Which should return NULL if [Training Contact] is blank. Except it pulls in the first [Related Peoples][Email] record it can find and seems to ignore the Select() qualification rule.

This works perfectly

ANY(Select(People[Email],AND(
[Label]=[_ThisRow].[Training Contact],
[Company]=[_ThisRow].[CompanyID]
)))

But I’m stumped as to why the first one doesn’t work correctly. Hopefully its not something dumb…