Fund Overview

  • Seeks high-conviction, best-of-breed businesses
  • Benchmark-agnostic. Seeks to outperform the index, not mirror it
  • Low expected turnover and a strategic, long term time horizon
  • Traditional benefits of ETFs: Low cost, tax efficient, intra-day liquidity and transparent  ETFs are subject to commission costs each time a buy or sell is executed. Depending on the amount of trading activity, the low costs of ETFs may be outweighed by commissions and related trading costs.

Returns

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. -10.60% -12.89% 6.03% 5.45% 7.31%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -10.62% -12.91% 6.17% 5.39% 7.32%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -11.81% -14.05% 8.08% 7.26% 8.69%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. -10.60% -13.34% 5.52% 4.89% 6.82%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. -6.28% -7.23% 4.65% 4.16% 5.69%

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. NAV and market price returns assume that all distributions were reinvested at NAV. Current performance may be lower or higher than the performance quoted. Since 1/11/17 Inception. Periods less than one year are not annualized. It is not possible to invest directly in an index.

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. -19.78% -17.55% 3.10% 3.78% 5.40%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -19.93% -17.73% 3.08% 3.72% 5.39%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -21.25% -17.65% 4.91% 5.46% 6.69%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. -19.78% -17.98% 2.61% 3.24% 4.92%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. -11.71% -9.94% 2.41% 2.88% 4.19%

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. NAV and market price returns assume that all distributions were reinvested at NAV. Current performance may be lower or higher than the performance quoted. Since 1/11/17 Inception. Periods less than one year are not annualized. It is not possible to invest directly in an index.

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. -13.06% -11.71% 7.82% 6.13% 7.00%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -13.07% -11.75% 7.93% 6.13% 7.02%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -14.62% -12.37% 9.42% 8.26% 8.34%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. -13.06% -12.17% 7.29% 5.57% 6.50%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. -7.73% -6.51% 6.06% 4.71% 5.45%

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. NAV and market price returns assume that all distributions were reinvested at NAV. Current performance may be lower or higher than the performance quoted. Since 1/11/17 Inception. Periods less than one year are not annualized. It is not possible to invest directly in an index.

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 30.84% 30.84% 16.28% -- 11.06%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 30.99% 30.99% 16.60% -- 11.08%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 35.04% 35.04% 20.58% -- 13.04%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 30.15% 30.15% 15.72% -- 10.47%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 18.75% 18.75% 12.76% -- 8.67%

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. NAV and market price returns assume that all distributions were reinvested at NAV. Current performance may be lower or higher than the performance quoted. Since 1/11/17 Inception. Periods less than one year are not annualized. It is not possible to invest directly in an index.

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. -5.06% -5.06% 2.36% -- 6.57%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -4.97% -4.97% 2.25% -- 6.57%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -1.69% -1.69% 4.14% -- 8.09%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. -5.38% -5.38% 1.76% -- 6.00%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. -2.76% -2.76% 1.75% -- 5.03%

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. NAV and market price returns assume that all distributions were reinvested at NAV. Current performance may be lower or higher than the performance quoted. Since 1/11/17 Inception. Periods less than one year are not annualized. It is not possible to invest directly in an index.

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 26.63% 26.63% -- -- 10.80%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 26.73% 26.73% -- -- 10.77%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 32.13% 32.13% -- -- 11.61%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 25.89% 25.89% -- -- 10.14%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 16.29% 16.29% -- -- 8.29%

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. NAV and market price returns assume that all distributions were reinvested at NAV. Current performance may be lower or higher than the performance quoted. Since 1/11/17 Inception. Periods less than one year are not annualized. It is not possible to invest directly in an index.

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. -10.60% -12.89% 19.23% 30.38% 50.58%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -10.62% -12.91% 19.68% 30.06% 50.74%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -11.81% -14.05% 26.29% 41.97% 62.22%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. -10.60% -13.34% 17.51% 26.99% 46.67%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. -6.28% -7.23% 14.61% 22.61% 37.92%

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. NAV and market price returns assume that all distributions were reinvested at NAV. Current performance may be lower or higher than the performance quoted. Since 1/11/17 Inception. It is not possible to invest directly in an index.

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. -19.78% -17.55% 9.62% 20.41% 35.13%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -19.93% -17.73% 9.52% 20.06% 35.02%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -21.25% -17.65% 15.49% 30.50% 44.86%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. -19.78% -17.98% 8.03% 17.28% 31.62%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. -11.71% -9.94% 7.42% 15.27% 26.45%

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. NAV and market price returns assume that all distributions were reinvested at NAV. Current performance may be lower or higher than the performance quoted. Since 1/11/17 Inception. It is not possible to invest directly in an index.

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. -13.06% -11.71% 25.35% 34.65% 46.44%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -13.07% -11.75% 25.75% 34.64% 46.60%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -14.62% -12.37% 31.03% 48.76% 57.05%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. -13.06% -12.17% 23.54% 31.15% 42.64%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. -7.73% -6.51% 19.31% 25.90% 34.84%

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. NAV and market price returns assume that all distributions were reinvested at NAV. Current performance may be lower or higher than the performance quoted. Since 1/11/17 Inception. It is not possible to invest directly in an index.

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 30.84% 30.84% 57.31% -- 68.44%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 30.99% 30.99% 58.58% -- 68.64%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 35.04% 35.04% 75.40% -- 83.94%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 30.15% 30.15% 55.03% -- 64.07%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 18.75% 18.75% 43.43% -- 51.18%

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. NAV and market price returns assume that all distributions were reinvested at NAV. Current performance may be lower or higher than the performance quoted. Since 1/11/17 Inception. It is not possible to invest directly in an index.

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. -5.06% -5.06% 7.25% -- 28.74%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -4.97% -4.97% 6.89% -- 28.74%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -1.69% -1.69% 12.96% -- 36.21%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. -5.38% -5.38% 5.39% -- 26.06%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. -2.76% -2.76% 5.35% -- 21.55%

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. NAV and market price returns assume that all distributions were reinvested at NAV. Current performance may be lower or higher than the performance quoted. Since 1/11/17 Inception. It is not possible to invest directly in an index.

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 26.63% 26.63% -- -- 35.59%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 26.73% 26.73% -- -- 35.50%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 32.13% 32.13% -- -- 38.56%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 25.89% 25.89% -- -- 33.23%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 16.29% 16.29% -- -- 26.69%

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. NAV and market price returns assume that all distributions were reinvested at NAV. Current performance may be lower or higher than the performance quoted. Since 1/11/17 Inception. It is not possible to invest directly in an index.

Historical Prices as of 11/25/22

Top Industries as of 11/23/22 The Fund generally uses the Global Industry Classification Standard (“GICS”) to determine industry classification. GICS presents industry classification as a series of levels. Allocations shown are at the industry level. For purposes of measuring concentration, the Fund generally classifies companies at the “industry group” or “industry” level. See the Fund’s SAI for additional information. Data is provided by an external service provider and, in limited instances, the classifications may vary from the classifications assigned by Davis Advisors. Industry classification weightings are subject to change.

Name DFNL (%) S&P 500 Financials (%)
Banks 48.7% 33.5%
Diversified Financials 32.7% 46.1%
Insurance 17.6% 20.4%
Retailing 1.1% 0.0%

Holdings as of 11/23/22

Name DFNL (%) S&P 500 Financials (%)
Berkshire Hathaway 7.18% 14.46%
Capital One Financial 7.01% 0.99%
Chubb 6.17% 2.27%
U.S. Bancorp 5.64% 1.51%
Wells Fargo & Co. 5.56% 4.55%
Julius Baer Group 5.50% 0.00%
Markel 5.33% 0.00%
JPMorgan Chase & Co. 5.16% 10.14%
Bank of New York Mellon 4.82% 0.85%
DBS Group Holdings 4.67% 0.00%
Name Ticker DFNL (%) S&P 500 Financials (%) Shares Market Value ($) CUSIP SEDOL
Berkshire Hathaway Inc., Class B BRK B 7.18 14.46 41,287 13,054,124 084670702 2073390
Capital One Financial Corp. COF 7.01 0.99 125,465 12,751,008 14040H105 2654461
Chubb Ltd. CB 6.17 2.27 52,396 11,220,603 H1467J104 B3BQMF6
U.S. Bancorp USB 5.64 1.51 232,560 10,258,222 902973304 2736035
Wells Fargo & Co. WFC 5.56 4.55 213,677 10,113,332 949746101 2649100
Julius Baer Group Ltd. BAER SE 5.50 0.00 175,258 9,997,734 B4R2R50
Markel Corp. MKL 5.33 0.00 7,567 9,697,943 570535104 2566436
JPMorgan Chase & Co. JPM 5.16 10.14 68,822 9,392,827 46625H100 2190385
Bank of New York Mellon Corp. BK 4.82 0.85 192,809 8,770,881 064058100 B1Z77F6
DBS Group Holdings Ltd. DBS SP 4.67 0.00 330,686 8,491,073 6175203
Fifth Third Bancorp FITB 4.65 0.63 232,879 8,460,494 316773100 2336747
PNC Financial Services Group, Inc. PNC 4.45 1.73 48,651 8,100,392 693475105 2692665
Bank of America Corp. BAC 4.25 6.66 205,431 7,726,260 060505104 2295677
American Express Co. AXP 3.99 2.34 47,108 7,251,334 025816109 2026082
Danske Bank A/S DANSKE DC 3.30 0.00 340,478 6,008,435 4588825
Loews Corp. L 3.26 0.29 103,345 5,922,702 540424108 2523022
Bank of N.T. Butterfield & Son Ltd. NTB 2.35 0.00 127,031 4,274,593 G0772R208 BD8FF02
DNB Bank ASA DNB NO 2.24 0.00 216,427 4,082,050 BNG7113
M&T Bank Corp. MTB 2.04 0.76 21,565 3,706,377 55261F104 2340168
Charles Schwab Corp. SCHW 1.99 3.15 44,401 3,614,685 808513105 2779397
Rocket Companies, Inc., Class A RKT 1.77 0.00 415,838 3,222,745 77311W101 BMD6Y84
State Street Corp. STT 1.74 0.72 40,966 3,156,430 857477103 2842040
Truist Financial Corp. TFC 1.72 1.56 67,478 3,133,004 89832Q109 BKP7287
Everest Re Group, Ltd. RE 1.21 0.33 6,676 2,195,803 G3223R108 2556868
Prosus N.V., Class N PRX NA 1.04 0.00 31,530 1,897,190 BJDS7L3
Ping An Insurance (Group) 2318 HK 0.94 0.00 319,000 1,705,490 B01FLR7
Greenlight Capital Re, Ltd., Class A GLRE 0.44 0.00 101,438 792,231 G4095J109 B1XRCZ3
Metro Bank PLC MTRO LN 0.19 0.00 295,258 338,432 BZ6STL6
Cash Component 1.39 0.00 0 0
Total   100.00 52.94        

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Historical Premium/Discount Shares are generally bought and sold on an exchange at market prices and the price paid may be more (a “premium”) or less than NAV (a “discount”). For this reason an investor may pay more or less than NAV when they buy shares, and they may receive more or less than NAV when they sell shares. The premium/discount information provided represents past performance and cannot be used to predict future results. of Market Price Market price generally reflects the official closing price of the Fund. to NAV



Calendar Year 2021 First Quarter 2022 Second Quarter 2022 Third Quarter 2022
Days traded at premium 209 51 24 32
Days traded at discount 43 11 38 32

Fund Details as of 11/23/22

Inception Date 1/11/17
Ticker DFNL
Objective Long-term growth of capital
Expense Ratio The Advisors has contractually agreed to waive fees and/or reimburse the Fund’s expenses to the extent necessary to cap total annual fund operating expenses at 0.65% until March 1, 2022. After that date, there is no assurance that Davis Selected Advisers, L.P. will continue to waive fees and/or reimburse expenses. The agreement cannot be terminated prior to that date, without the consent of the Board of Trustees. 0.62%
Number of Holdings The number of holdings in the Fund excluding cash positions and derivatives such as futures and currency forwards. 28
Number of Holdings in Benchmark Index 67
Investment Manager Davis Selected Advisers, L.P.
Total Net Assets($M) 181.911
Exchange Cboe Global Markets, Inc.
CUSIP 23908L108
Custodian State Street Bank and Trust Company
Benchmark Index S&P 500 Financials
Shares Outstanding 6,350,000
Dividend Frequency Annually
Options Available N
Daily Volume The number of shares traded during a given period of time. It is simply the amount of shares that trade hands from sellers to buyers as a measure of activity. If a buyer of a stock purchases 100 shares from a seller, then the volume for that period increased by 100 shares based on that transaction. Volume shown is the volume that traded on the primary exchange as of the date indicated. 6,607
30 Day Avg. Volume Average Daily Volume (ADV) on primary exchange may differ from ADV reported by other sources, which may publish an aggregated ADV from all exchanges on which the ETF trades. 13,895
30 Day Median Bid-Ask Spread The Fund uses the national best bid and national best offer (NBBO), calculated every ten seconds during each trading day, in order to determine the median bid-ask spread. The median of the values calculated over the last 30 calendar days is expressed as a percentage and rounded to the nearest hundredth. 0.26%
Premium/Discount Shares are generally bought and sold on an exchange at market prices and the price paid may be more (a “premium”) or less than NAV (a “discount”). For this reason an investor may pay more or less than NAV when they buy shares, and they may receive more or less than NAV when they sell shares. The premium/discount information provided represents past performance and cannot be used to predict future results. 0.09

Portfolio Statistics as of 11/23/22

Forward P/E Forward price to earnings (forward P/E) is a measure of the price-to-earnings (P/E) ratio using forecasted earnings for the P/E calculation. 10.4
Index Forward P/E 13.6
P/B Price/Book (P/B) Ratio is the weighted average of the P/B ratios of the stocks in a portfolio. The P/B ratio of a stock is calculated by dividing the current price of the stock by the company's per share book value. 1.4
Weighted Avg. Market Cap ($bn) Weighted Average Market Capitalization is the portfolio-weighted mean capitalizations of all equity securities. 110.4
Historical 5 Year EPS Growth This figure represents the annualized rate of net-income-per-share growth over the trailing five-year period for the stocks held by the Fund. 9.3
Index Historical 5 Year EPS Growth 5.1

52 Week High/Low as of 11/23/22

NAV Market Price
52 Week High 33.14 33.48
52 Week Low 24.49 24.35