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 Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 28.83% 55.01% 9.77% 11.52%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 29.03% 55.32% 9.82% 11.56%
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. 31.57% 56.48% 13.22% 13.40%
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. 28.83% 54.47% 9.13% 11.02%
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. 17.07% 32.78% 7.43% 9.00%

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 Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 24.76% 57.76% 9.00% 10.97%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 25.05% 58.69% 8.98% 11.02%
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. 25.14% 55.21% 11.86% 12.43%
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. 24.76% 57.22% 8.36% 10.46%
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. 14.66% 34.44% 6.83% 8.55%

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. Periods less than one year are not annualized. It is not possible to invest directly in an index.

  YTD 1 Yr 3 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 25.52% 63.70% 10.83% 11.34%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 25.76% 64.37% 10.78% 11.39%
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. 25.69% 61.77% 13.96% 12.79%
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. 25.52% 63.13% 10.18% 10.81%
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. 15.11% 37.96% 8.27% 8.84%

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. Periods less than one year are not annualized. It is not possible to invest directly in an index.

  YTD 1 Yr 3 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 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.

  1 Yr 3 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. -10.80% -- 3.53%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -11.12% -- 3.45%
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. -13.03% -- 2.44%
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. -11.52% -- 2.92%
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. -6.02% -- 2.61%

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 Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 28.83% 55.01% 32.30% 65.85%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 29.03% 55.32% 32.50% 66.11%
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. 31.57% 56.48% 45.19% 79.22%
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. 28.83% 54.47% 30.01% 62.40%
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. 17.07% 32.78% 24.00% 49.17%

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 Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 24.76% 57.76% 29.53% 60.62%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 25.05% 58.69% 29.45% 60.99%
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. 25.14% 55.21% 40.01% 70.46%
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. 24.76% 57.22% 27.28% 57.27%
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. 14.66% 34.44% 21.94% 45.27%

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 Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 25.52% 63.70% 36.16% 61.60%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 25.76% 64.37% 36.00% 61.90%
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. 25.69% 61.77% 48.03% 71.21%
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. 25.52% 63.13% 33.80% 58.23%
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. 15.11% 37.96% 26.95% 46.00%

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 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 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.

  1 Yr 3 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. -10.80% -- 7.08%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -11.12% -- 6.92%
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. -13.03% -- 4.87%
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. -11.52% -- 5.83%
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. -6.02% -- 5.21%

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 9/22/21

Top Industries as of 9/22/21 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 45.5% 37.5%
Diversified Financials 34.0% 45.3%
Insurance 20.5% 17.2%

Holdings as of 9/22/21

Name DFNL (%) S&P 500 Financials (%)
Capital One Financial 10.42% 1.73%
U.S. Bancorp 7.40% 1.90%
Chubb 6.17% 1.89%
Berkshire Hathaway 6.08% 12.35%
Wells Fargo & Co. 5.84% 4.70%
Markel 4.94% 0.00%
PNC Financial Services Group 4.82% 1.94%
Bank of America 4.68% 7.23%
JPMorgan Chase & Co. 4.52% 11.33%
American Express 4.24% 2.62%
Name Ticker DFNL (%) S&P 500 Financials (%) Shares Market Value ($) CUSIP SEDOL
Capital One Financial Corp. COF 10.42 1.73 138,865 22,165,631 14040H105 2654461
U.S. Bancorp USB 7.40 1.90 271,705 15,737,154 902973304 2736035
Chubb Ltd. CB 6.17 1.89 74,158 13,120,775 H1467J104 B3BQMF6
Berkshire Hathaway Inc., Class B BRK B 6.08 12.35 47,167 12,927,060 084670702 2073390
Wells Fargo & Co. WFC 5.84 4.70 264,074 12,432,604 949746101 2649100
Markel Corp. MKL 4.94 0.00 8,629 10,509,691 570535104 2566436
PNC Financial Services Group, Inc. PNC 4.82 1.94 54,612 10,249,034 693475105 2692665
Bank of America Corp. BAC 4.68 7.23 248,045 9,956,526 060505104 2295677
JPMorgan Chase & Co. JPM 4.52 11.33 61,630 9,608,733 46625H100 2190385
American Express Co. AXP 4.24 2.62 53,814 9,013,307 025816109 2026082
Julius Baer Group Ltd. BAER SE 4.14 0.00 135,725 8,797,208 B4R2R50
Bank of New York Mellon Corp. BK 4.11 0.96 175,045 8,739,997 064058100 B1Z77F6
DBS Group Holdings Ltd. DBS SP 3.84 0.00 377,686 8,175,384 6175203
Loews Corp. L 3.70 0.26 150,427 7,877,862 540424108 2523022
DNB Bank ASA DNB NO 3.54 0.00 347,745 7,526,583 BNG7113
Charles Schwab Corp. SCHW 3.41 2.57 102,971 7,249,158 808513105 2779397
Danske Bank A/S DANSKE DC 2.99 0.00 388,952 6,356,055 4588825
Alleghany Corporation Y 2.84 0.00 9,619 6,037,558 017175100 2016801
Rocket Companies, Inc., Class A RKT 2.20 0.00 280,578 4,680,041 77311W101 BMD6Y84
Bank of N.T. Butterfield & Son Ltd. NTB 2.14 0.00 143,031 4,552,677 G0772R208 BD8FF02
M&T Bank Corp. MTB 1.58 0.43 24,639 3,363,224 55261F104 2340168
Ping An Insurance (Group) 2318 HK 1.18 0.00 372,000 2,512,803 B01FLR7
State Street Corp. STT 1.01 0.69 25,862 2,150,425 857477103 2842040
Everest Re Group, Ltd. RE 0.91 0.25 7,634 1,934,303 G3223R108 2556868
Truist Financial Corp. TFC 0.84 1.78 32,566 1,782,663 89832Q109 BKP7287
Greenlight Capital Re, Ltd., Class A GLRE 0.39 0.00 115,884 821,618 G4095J109 B1XRCZ3
Metro Bank PLC MTRO LN 0.21 0.00 337,296 446,977 BZ6STL6
Cash Component 1.86 0.00 0 0
Total   100.00 52.63        

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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 2020 First Quarter 2021 Second Quarter 2021
Days traded at premium 129 54 56
Days traded at discount 124 7 7

Fund Details as of 9/22/21

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, 2021. 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. 0.64%
Number of Holdings The number of holdings in the Fund excluding cash positions and derivatives such as futures and currency forwards. 27
Number of Holdings in Benchmark Index 65
Investment Manager Davis Selected Advisers, L.P.
Total Net Assets($M) 212.746
Exchange Cboe Global Markets, Inc.
CUSIP 23908L108
Custodian State Street Bank and Trust Company
Benchmark Index S&P 500 Financials
Shares Outstanding 7,150,000
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. 6,112
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. 14,666
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. 0.21%
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. 0.21

Portfolio Statistics as of 9/22/21

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. 11.3
Index Forward P/E 13.3
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. 1.5
Weighted Avg. Market Cap ($bn) Weighted Average Market Capitalization is the portfolio-weighted mean capitalizations of all equity securities. 130.9
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. 10.3
Index Historical 5 Year EPS Growth 14.9

52 Week High/Low as of 9/22/21

NAV Market Price
52 Week High 31.51 31.62
52 Week Low 18.34 18.17