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 12/31/21

Selective Attractive Growth Undervalued

DWLD invests in only a select group of well-researched companies

DWLD portfolio companies have grown faster than the index

DWLD portfolio companies are 48% less expensive than the index

Holdings The number of holdings in the Fund excluding cash positions and derivatives such as futures and currency forwards. 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. 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.
2964
39
DWLD
MSCI ACWI
22.2%
16.8%
DWLD
MSCI ACWI
9.4x
18.9x
DWLD
MSCI ACWI
DWLD
MSCI ACWI

  “The companies of Davis Select Worldwide ETF have grown faster than the companies in the index, yet are 48% less expensive.

In fact, this gap between price and value is among the widest we have ever seen.

We believe this sets the stage for attractive returns in the years ahead.”

– Portfolio Manager Danton Goei

Returns

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. -14.45% -28.65% 1.86% 4.73% 5.72%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -14.20% -28.52% 1.73% 4.69% 5.72%
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. -12.94% -5.44% 9.40% 9.45% 10.25%
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. -14.45% -28.78% 1.60% 4.32% 5.33%
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. -8.56% -16.75% 1.46% 3.63% 4.43%

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. 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. -6.66% -17.93% 6.94% 7.04% 7.60%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -6.47% -18.32% 6.83% 6.95% 7.58%
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. -5.36% 7.28% 13.74% 11.64% 12.19%
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. -6.66% -18.09% 6.67% 6.62% 7.20%
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. -3.94% -10.41% 5.39% 5.45% 5.91%

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. -4.67% -15.58% 7.80% 8.05% 8.17%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -4.62% -16.03% 7.65% 7.90% 8.12%
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. -7.37% 7.81% 13.40% 11.43% 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. -4.67% -15.74% 7.53% 7.62% 7.76%
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% -9.02% 6.06% 6.26% 6.37%

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. -4.01% -4.01% 15.64% -- 9.50%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -4.02% -4.02% 15.63% -- 9.43%
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. 18.54% 18.54% 20.36% -- 14.09%
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. -4.19% -4.19% 15.35% -- 9.07%
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. -2.15% -2.15% 12.31% -- 7.42%

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. 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 5 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.

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. -14.45% -28.65% 5.68% 26.03% 34.32%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -14.20% -28.52% 5.29% 25.77% 34.33%
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. -12.94% -5.44% 30.98% 57.10% 67.72%
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. -14.45% -28.78% 4.89% 23.59% 31.72%
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. -8.56% -16.75% 4.46% 19.51% 25.81%

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 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. -6.66% -17.93% 22.32% 40.54% 46.56%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -6.47% -18.32% 21.94% 39.96% 46.42%
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. -5.36% 7.28% 47.19% 73.43% 82.31%
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. -6.66% -18.09% 21.41% 37.82% 43.72%
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. -3.94% -10.41% 17.09% 30.38% 34.95%

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. -4.67% -15.58% 25.29% 47.28% 49.68%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -4.62% -16.03% 24.78% 46.27% 49.32%
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. -7.37% 7.81% 45.88% 71.83% 78.44%
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. -4.67% -15.74% 24.35% 44.43% 46.79%
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% -9.02% 19.33% 35.46% 37.29%

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. 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. -4.01% -4.01% 54.69% -- 57.01%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -4.02% -4.02% 54.66% -- 56.56%
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. 18.54% 18.54% 74.46% -- 92.63%
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. -4.19% -4.19% 53.53% -- 53.98%
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. -2.15% -2.15% 41.70% -- 42.76%

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. 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 5 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.

Historical Prices as of 5/17/22

Regions as of 5/16/22

DWLD (%) MSCI ACWI (%)
United States 48.9% 61.0%
Emerging Markets 25.7% 10.5%
Developed Ex US 25.4% 28.4%

Top Sectors as of 5/16/22 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 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 42.5% 15.0%
Consumer Discretionary 18.8% 10.8%
Communication Services 14.2% 7.9%
Information Technology 13.3% 20.0%
Health Care 7.3% 12.5%
Materials 1.6% 5.0%
Consumer Staples 1.4% 7.7%
Industrials 0.9% 9.4%

Holdings as of 5/16/22

Name DWLD (%) MSCI ACWI (%) Country
DBS Group Holdings 6.78% 0.07% Singapore
Berkshire Hathaway 6.58% 0.69% USA
Wells Fargo & Co. 6.54% 0.29% USA
Danske Bank 5.27% 0.02% Denmark
Alphabet 4.62% 2.30% USA
JD.com 4.11% 0.00% China
Julius Baer Group 4.09% 0.02% Switzerland
Meta Platforms 4.03% 0.81% USA
Intel 3.85% 0.30% USA
AIA Group 3.83% 0.20% Hong Kong
Name Ticker DWLD (%) MSCI ACWI (%) Shares Market Value ($) Country CUSIP SEDOL
DBS Group Holdings Ltd. DBS SP 6.78 0.07 784,536 17,606,395 Singapore 6175203
Berkshire Hathaway Inc., Class B BRK B 6.58 0.69 55,276 17,096,314 USA 084670702 2073390
Wells Fargo & Co. WFC 6.54 0.29 402,418 16,986,064 USA 949746101 2649100
Danske Bank A/S DANSKE DC 5.27 0.02 906,929 13,686,256 Denmark 4588825
Alphabet Inc., Class C GOOG 4.62 1.12 5,226 11,998,112 USA 02079K107 BYY88Y7
JD.com, Inc., Class A, ADR JD 4.11 0.00 207,428 10,688,765 China 47215P106 BMM27D9
Julius Baer Group Ltd. BAER SE 4.09 0.02 226,107 10,637,676 Switzerland B4R2R50
Meta Platforms, Inc., Class A FB 4.03 0.81 52,293 10,460,692 USA 30303M102 B7TL820
Intel Corp. INTC 3.85 0.30 232,096 9,998,696 USA 458140100 2463247
AIA Group Ltd. 1299 HK 3.83 0.20 1,054,190 9,944,492 Hong Kong B4TX8S1
Cigna Corp. CI 3.80 0.15 37,094 9,885,180 USA 125523100 BHJ0775
Ping An Insurance (Group) 2318 HK 3.78 0.06 1,658,275 9,833,653 China B01FLR7
Hollysys Automation Technologies Ltd. HOLI 3.57 0.00 608,847 9,266,651 China G45667105 B0JCH50
Viatris Inc. VTRS 3.40 0.02 793,652 8,841,283 USA 92556V106 BMWS3X9
Alibaba Group Holding Ltd., ADR BABA 3.22 0.00 96,676 8,360,540 China 01609W102 BP41ZD1
Samsung Electronics Co., Ltd. 005930 KS 2.90 0.42 145,753 7,524,566 Korea, (South) 6771720
Capital One Financial Corp. COF 2.83 0.08 64,512 7,352,433 USA 14040H105 2654461
Amazon.com, Inc. AMZN 2.82 1.73 3,307 7,329,006 USA 023135106 2000019
Prosus N.V., Class N PRX NA 2.81 0.07 158,369 7,292,393 Netherlands BJDS7L3
Meituan, Class B 3690 HK 2.62 0.15 326,940 6,809,645 China BGJW376
Liberty Formula One, Series C FWONK 2.16 0.02 93,121 5,607,747 USA 531229854 BD8QGD5
Applied Materials, Inc. AMAT 2.13 0.17 50,143 5,539,799 USA 038222105 2046552
Bank of N.T. Butterfield & Son Ltd. NTB 1.66 0.00 144,636 4,305,814 Bermuda G0772R208 BD8FF02
Teck Resources Ltd., Class B TECK 1.61 0.03 110,058 4,196,512 Canada 878742204 2124533
Liberty Formula One, Series A FWONA 1.49 0.00 70,037 3,880,750 USA 531229870 BD72R64
Darling Ingredients Inc. DAR 1.39 0.00 47,233 3,615,214 USA 237266101 2250289
IAC/InterActiveCorp IAC 1.01 0.01 32,794 2,624,504 USA 44891N208 BNDYF48
Fila Holdings Corp. 081660 KS 0.95 0.00 104,788 2,460,080 Korea, (South) B66CTX7
Owens Corning OC 0.88 0.02 24,410 2,283,556 USA 690742101 B1FW7Q2
Naspers Ltd. - N NPN SJ 0.80 0.04 21,354 2,079,842 South Africa 6622691
Coupang, Inc., Class A CPNG 0.74 0.00 152,937 1,931,594 Korea, (South) 22266T109 BNYHDF3
Clear Secure, Inc., Class A YOU 0.72 0.00 58,956 1,877,749 USA 18467V109 BLD30T1
Delivery Hero SE DHER GR 0.59 0.01 49,200 1,522,826 Germany BZCNB42
Noah Holdings Ltd., Class A, ADS NOAH 0.53 0.00 89,762 1,388,618 China 65487X102 B5MDP39
iQIYI, Inc., Class A, ADR IQ 0.33 0.00 254,439 867,637 China 46267X108 BYWT1W1
Baidu, Inc., Class A, ADR BIDU 0.23 0.06 4,972 585,702 China 056752108 B0FXT17
Metro Bank PLC MTRO LN 0.20 0.00 533,229 532,647 UK BZ6STL6
Vimeo, Inc. VMEO 0.18 0.00 54,252 479,588 USA 92719V100 BNDYF15
Cash Component 0.95 0.00 0 0
Total   100.00 6.56          

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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
Days traded at premium 154 10
Days traded at discount 98 52

Fund Details as of 5/16/22

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, 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. 38
Number of Holdings in Benchmark Index 2,935
Investment Manager Davis Selected Advisers, L.P.
Total Net Assets ($M) 259.855
Exchange Cboe Global Markets, Inc.
CUSIP 23908L306
Custodian State Street Bank and Trust Company
Benchmark Index MSCI ACWI
Shares Outstanding 10,750,000
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. 214,950
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. 70,518
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. 0.34%
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. 0.24
Active Share (as of 4/30/22) Active Share is a measure of the percentage of stock holdings in a manager's portfolio that differ from the benchmark index. 92%

52 Week High/Low as of 5/16/22

NAV Market Price
52 Week High 35.16 35.29
52 Week Low 23.57 23.16