Fund Overview

  • Seeks high-conviction, best-of-breed businesses in the U.S. and abroad
  • 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.

Selective, Attractive Growth, Undervalued The Attractive Growth and Undervalued reference in this piece relates to underlying characteristics of the portfolio holdings. There is no guarantee that Fund performance will be positive as equity markets are volatile and an investor may lose money. as of 6/21/21

DWLD MSCI ACWI
Selective Holdings The number of holdings in the Fund excluding cash positions and derivatives such as futures and currency forwards. 35 2,984
Attractive Growth EPS Growth (5 Year) 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. 23.4% 16.7%
Undervalued P/E (Forward) 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. 11.2x 19.1x

  “Selectivity allows us to reject the vast majority of companies that make up the index and instead build a portfolio of those few companies that have above-average growth and below-average valuations.”

Returns

  YTD 1 Yr 3 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 12.19% 53.27% 11.67% 14.84%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 12.66% 53.61% 11.58% 14.88%
MSCI ACWI The MSCI ACWI® (All Country World Index) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets throughout the world. The Index includes reinvestment of dividends, net foreign withholding taxes. Investments cannot be made directly in an index. 10.84% 41.85% 13.86% 14.36%
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. 12.19% 53.19% 11.02% 14.38%
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. 7.22% 31.59% 8.87% 11.70%

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. 15.09% 62.49% 13.16% 15.84%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 15.21% 62.70% 13.03% 15.80%
MSCI ACWI The MSCI ACWI® (All Country World Index) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets throughout the world. The Index includes reinvestment of dividends, net foreign withholding taxes. Investments cannot be made directly in an index. 9.14% 45.75% 13.32% 14.25%
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. 15.09% 62.40% 12.50% 15.37%
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. 8.93% 37.05% 10.05% 12.51%

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. 9.18% 74.91% 11.54% 14.73%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 9.89% 75.86% 11.56% 14.84%
MSCI ACWI The MSCI ACWI® (All Country World Index) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets throughout the world. The Index includes reinvestment of dividends, net foreign withholding taxes. Investments cannot be made directly in an index. 4.57% 54.60% 12.07% 13.39%
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. 9.18% 74.81% 10.90% 14.25%
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. 5.43% 44.41% 8.78% 11.59%

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. 23.29% 23.29% 7.88% 13.19%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 22.73% 22.73% 7.72% 13.11%
MSCI ACWI The MSCI ACWI® (All Country World Index) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets throughout the world. The Index includes reinvestment of dividends, net foreign withholding taxes. Investments cannot be made directly in an index. 16.25% 16.25% 10.06% 13.00%
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. 23.22% 23.22% 7.25% 12.68%
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. 13.84% 13.84% 5.91% 10.29%

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 Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 30.70% 30.70% -- 9.99%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 30.96% 30.96% -- 10.02%
MSCI ACWI The MSCI ACWI® (All Country World Index) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets throughout the world. The Index includes reinvestment of dividends, net foreign withholding taxes. Investments cannot be made directly in an index. 26.60% 26.60% -- 11.94%
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. 30.04% 30.04% -- 9.35%
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. 18.70% 18.70% -- 7.64%

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. -22.10% -- 0.76%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -22.36% -- 0.70%
MSCI ACWI The MSCI ACWI® (All Country World Index) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets throughout the world. The Index includes reinvestment of dividends, net foreign withholding taxes. Investments cannot be made directly in an index. -9.42% -- 5.16%
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. -22.99% -- 0.15%
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. -12.73% -- 0.48%

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. 12.19% 53.27% 39.26% 83.50%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 12.66% 53.61% 38.93% 83.77%
MSCI ACWI The MSCI ACWI® (All Country World Index) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets throughout the world. The Index includes reinvestment of dividends, net foreign withholding taxes. Investments cannot be made directly in an index. 10.84% 41.85% 47.61% 80.13%
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. 12.19% 53.19% 36.89% 80.29%
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. 7.22% 31.59% 29.07% 62.50%

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. 15.09% 62.49% 44.92% 88.25%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 15.21% 62.70% 44.41% 87.94%
MSCI ACWI The MSCI ACWI® (All Country World Index) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets throughout the world. The Index includes reinvestment of dividends, net foreign withholding taxes. Investments cannot be made directly in an index. 9.14% 45.75% 45.53% 77.37%
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. 15.09% 62.40% 42.45% 84.95%
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. 8.93% 37.05% 33.32% 66.05%

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. 9.18% 74.91% 38.79% 78.58%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 9.89% 75.86% 38.86% 79.26%
MSCI ACWI The MSCI ACWI® (All Country World Index) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets throughout the world. The Index includes reinvestment of dividends, net foreign withholding taxes. Investments cannot be made directly in an index. 4.57% 54.60% 40.77% 69.94%
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. 9.18% 74.81% 36.42% 75.45%
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. 5.43% 44.41% 28.74% 58.81%

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. 23.29% 23.29% 25.54% 63.57%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 22.73% 22.73% 25.01% 63.12%
MSCI ACWI The MSCI ACWI® (All Country World Index) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets throughout the world. The Index includes reinvestment of dividends, net foreign withholding taxes. Investments cannot be made directly in an index. 16.25% 16.25% 33.32% 62.51%
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. 23.22% 23.22% 23.39% 60.70%
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. 13.84% 13.84% 18.81% 47.58%

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. 30.70% 30.70% -- 32.67%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 30.96% 30.96% -- 32.77%
MSCI ACWI The MSCI ACWI® (All Country World Index) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets throughout the world. The Index includes reinvestment of dividends, net foreign withholding taxes. Investments cannot be made directly in an index. 26.60% 26.60% -- 39.79%
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. 30.04% 30.04% -- 30.41%
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. 18.70% 18.70% -- 24.43%

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. -22.10% -- 1.50%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -22.36% -- 1.38%
MSCI ACWI The MSCI ACWI® (All Country World Index) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets throughout the world. The Index includes reinvestment of dividends, net foreign withholding taxes. Investments cannot be made directly in an index. -9.42% -- 10.42%
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. -22.99% -- 0.29%
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. -12.73% -- 0.94%

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 6/21/21

Regions as of 6/21/21

DWLD (%) MSCI ACWI (%)
United States 48.5% 58.3%
Emerging Markets 32.3% 12.5%
Developed Ex US 19.2% 29.1%

Top Sectors as of 6/21/21 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 sector 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.

DWLD (%) MSCI ACWI (%)
Financials 38.5% 14.8%
Consumer Discretionary 27.6% 12.6%
Communication Services 19.3% 9.4%
Information Technology 10.7% 21.0%
Health Care 3.9% 11.6%

Holdings as of 6/21/21

Name DWLD (%) MSCI ACWI (%) Country
Alphabet 7.44% 2.26% USA
Capital One Financial 6.23% 0.11% USA
Wells Fargo & Co. 5.83% 0.27% USA
DBS Group Holdings 5.08% 0.06% Singapore
Alibaba Group Holding 4.75% 0.00% China
Danske Bank 4.60% 0.02% Denmark
Facebook 4.59% 1.22% USA
Berkshire Hathaway 4.47% 0.58% USA
New Oriental Education & Technology 4.22% 0.02% China
AIA Group 3.75% 0.22% Hong Kong
Name Ticker DWLD (%) MSCI ACWI (%) Shares Market Value ($) Country CUSIP SEDOL
Alphabet Inc., Class C GOOG 7.44 1.14 12,160 30,753,856 USA 02079K107 BYY88Y7
Capital One Financial Corp. COF 6.23 0.11 166,330 25,762,854 USA 14040H105 2654461
Wells Fargo & Co. WFC 5.83 0.27 556,885 24,101,983 USA 949746101 2649100
DBS Group Holdings Ltd. DBS SP 5.08 0.06 943,636 21,016,484 Singapore 6175203
Alibaba Group Holding Ltd., ADR BABA 4.75 0.00 93,076 19,644,621 China 01609W102 BP41ZD1
Danske Bank A/S DANSKE DC 4.60 0.02 1,055,822 19,012,343 Denmark 4588825
Facebook Inc., Class A FB 4.59 1.22 57,079 18,966,781 USA 30303M102 B7TL820
Berkshire Hathaway Inc., Class B BRK B 4.47 0.58 66,654 18,469,823 USA 084670702 2073390
New Oriental Education & Tech ADR EDU 4.22 0.02 2,154,988 17,455,403 China 647581107 B1CN1G6
AIA Group Ltd. 1299 HK 3.75 0.22 1,271,990 15,483,814 Hong Kong B4TX8S1
Naspers Ltd. - N NPN SJ 3.68 0.14 70,895 15,208,255 South Africa 6622691
Meituan, Class B 3690 HK 3.54 0.21 375,540 14,640,689 China BGJW376
JD.com, Inc., Class A, ADR JD 3.39 0.10 193,178 14,028,586 China 47215P106 BMM27D9
Amazon.com, Inc. AMZN 3.33 2.25 3,989 13,777,846 USA 023135106 2000019
DNB ASA DNB NO 3.32 0.03 621,360 13,729,513 Norway 4263304
Samsung Electronics Co., Ltd. 005930 KS 2.98 0.51 172,370 12,311,285 Korea, (South) 6771720
Applied Materials, Inc. AMAT 2.77 0.19 86,082 11,453,210 USA 038222105 2046552
Intel Corp. INTC 2.66 0.35 196,606 10,984,377 USA 458140100 2463247
Viatris Inc. VTRS 2.58 0.03 743,358 10,667,187 USA 92556V106 BMWS3X9
Hollysys Automation Technologies Ltd. HOLI 2.28 0.00 679,487 9,424,485 China G45667105 B0JCH50
Julius Baer Group Ltd. BAER SE 2.15 0.02 134,244 8,870,461 Switzerland B4R2R50
Vroom, Inc. VRM 2.11 0.00 208,675 8,722,615 USA 92918V109 BMFZYY5
Baidu, Inc., Class A, ADR BIDU 1.96 0.08 43,641 8,098,024 China 056752108 B0FXT17
TAL Education Group, Class A, ADR TAL 1.61 0.01 286,490 6,660,893 China 874080104 B4MGD82
Bank of N.T. Butterfield & Son Ltd. NTB 1.54 0.00 174,390 6,382,674 Bermuda G0772R208 BD8FF02
IAC/InterActiveCorp IAC 1.46 0.02 39,560 6,031,318 USA 44891N208 BNDYF48
Cigna Corp. CI 1.28 0.13 22,388 5,294,314 USA 125523100 BHJ0775
Liberty Formula One, Series C FWONK 1.22 0.01 111,194 5,034,864 USA 531229854 BD8QGD5
Noah Holdings Ltd., Class A, ADS NOAH 1.15 0.00 100,442 4,767,982 China 65487X102 B5MDP39
iQIYI, Inc., Class A, ADR IQ 1.06 0.01 303,827 4,384,224 China 46267X108 BYWT1W1
Liberty Formula One, Series A FWONA 0.81 0.00 83,619 3,356,467 USA 531229870 BD72R64
Quotient Technology Inc. QUOT 0.80 0.00 297,878 3,324,318 USA 749119103 BYWCCM7
Vimeo Holdings, Inc. VMEO 0.68 0.00 64,220 2,796,781 USA 92719V100 BNDYF15
Metro Bank PLC MTRO LN 0.23 0.00 642,983 939,698 UK BZ6STL6
Kuaishou Technology, Class B 1024 HK 0.03 0.01 4,200 106,440 China BLC90T0
Cash Component 0.42 0.00 0 0
Total   100.00 7.74          

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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
Days traded at premium 149 57
Days traded at discount 104 4

Fund Details as of 6/21/21

Inception Date 1/11/17
Ticker DWLD
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. 0.63%
Number of Holdings The number of holdings in the Fund excluding cash positions and derivatives such as futures and currency forwards. 35
Number of Holdings in Benchmark Index 2,984
Investment Manager Davis Selected Advisers, L.P.
Total Net Assets ($M) 413.449
Exchange Cboe Global Markets, Inc.
CUSIP 23908L306
Custodian State Street Bank and Trust Company
Benchmark Index MSCI ACWI
Shares Outstanding 12,400,000
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. 15,770
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. 34,053
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. 0.29%
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. -0.07
Active Share (as of 5/31/21) Active Share is a measure of the percentage of stock holdings in a manager's portfolio that differ from the benchmark index. 91%

52 Week High/Low as of 6/21/21

NAV Market Price
52 Week High 35.98 36.31
52 Week Low 23.17 23.18