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 06/30/22

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 44% 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.
2894
37
DWLD
MSCI ACWI
23.6%
15.5%
DWLD
MSCI ACWI
8.1x
14.5x
DWLD
MSCI ACWI
DWLD
MSCI ACWI

  “The companies of Davis Select Worldwide ETF have grown faster than the companies in the index, yet are 44% 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. -24.93% -25.35% -0.18% -0.53% 2.92%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -24.94% -25.51% -0.24% -0.62% 2.86%
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. -25.63% -20.66% 3.74% 4.44% 6.49%
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. -24.93% -25.49% -0.43% -0.91% 2.57%
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. -14.76% -14.75% -0.05% -0.41% 2.24%

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. -16.36% -20.45% 3.85% 2.56% 4.95%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -16.44% -20.70% 3.75% 2.47% 4.88%
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. -17.75% -15.88% 8.03% 6.97% 8.50%
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. -16.36% -20.60% 3.59% 2.16% 4.59%
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. -9.69% -11.87% 3.01% 1.92% 3.82%

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. -15.19% -18.99% 3.21% 2.79% 5.29%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -14.95% -18.98% 3.12% 2.75% 5.29%
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. -14.61% -10.48% 8.51% 7.86% 9.38%
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. -15.19% -19.14% 2.95% 2.39% 4.92%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. -8.99% -11.01% 2.51% 2.10% 4.09%

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. -24.93% -25.35% -0.55% -2.60% 17.88%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -24.94% -25.51% -0.72% -3.08% 17.51%
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. -25.63% -20.66% 11.67% 24.27% 43.27%
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. -24.93% -25.49% -1.29% -4.49% 15.59%
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. -14.76% -14.75% -0.16% -2.03% 13.52%

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. -16.36% -20.45% 12.01% 13.46% 31.32%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -16.44% -20.70% 11.69% 12.98% 30.82%
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. -17.75% -15.88% 26.09% 40.08% 58.44%
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. -16.36% -20.60% 11.17% 11.27% 28.78%
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. -9.69% -11.87% 9.30% 10.00% 23.57%

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. -15.19% -18.99% 9.96% 14.78% 33.17%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -14.95% -18.98% 9.66% 14.54% 33.15%
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. -14.61% -10.48% 27.80% 45.99% 64.49%
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. -15.19% -19.14% 9.14% 12.56% 30.59%
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. -8.99% -11.01% 7.73% 10.98% 24.94%

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.

  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 10/5/22

Regions as of 10/5/22

DWLD (%) MSCI ACWI (%)
United States 43.9% 62.3%
Emerging Markets 28.2% 10.5%
Developed Ex US 27.9% 27.1%

Top Sectors as of 10/5/22 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 41.2% 15.1%
Consumer Discretionary 21.4% 11.4%
Information Technology 12.5% 20.0%
Communication Services 11.9% 7.4%
Health Care 6.9% 12.9%
Materials 3.3% 4.7%
Consumer Staples 1.4% 7.4%
Industrials 1.4% 9.5%

Holdings as of 10/5/22

Name DWLD (%) MSCI ACWI (%) Country
DBS Group Holdings 7.07% 0.08% Singapore
Wells Fargo & Co. 6.69% 0.30% USA
Berkshire Hathaway 5.93% 0.66% USA
Hollysys Automation Technologies 4.67% 0.00% China
JD.com 4.39% 0.00% China
Julius Baer Group 4.31% 0.02% Switzerland
Alphabet 4.29% 2.20% USA
Danske Bank 4.27% 0.02% Denmark
Cigna 3.90% 0.17% USA
Meta Platforms 3.77% 0.59% USA
Name Ticker DWLD (%) MSCI ACWI (%) Shares Market Value ($) Country CUSIP SEDOL
DBS Group Holdings Ltd. DBS SP 7.07 0.08 715,236 16,780,054 Singapore 6175203
Wells Fargo & Co. WFC 6.69 0.30 366,791 15,885,718 USA 949746101 2649100
Berkshire Hathaway Inc., Class B BRK B 5.93 0.66 50,384 14,075,274 USA 084670702 2073390
Hollysys Automation Technologies Ltd. HOLI 4.67 0.00 623,481 11,079,257 China G45667105 B0JCH50
JD.com, Inc., Class A, ADR JD 4.39 0.00 196,853 10,429,272 China 47215P106 BMM27D9
Julius Baer Group Ltd. BAER SE 4.31 0.02 224,593 10,229,327 Switzerland B4R2R50
Alphabet Inc., Class C GOOG 4.29 1.07 99,630 10,184,179 USA 02079K107 BYY88Y7
Danske Bank A/S DANSKE DC 4.27 0.02 833,551 10,134,460 Denmark 4588825
Cigna Corp. CI 3.90 0.17 31,467 9,252,242 USA 125523100 BHJ0775
Meta Platforms, Inc., Class A META 3.77 0.59 64,444 8,956,427 USA 30303M102 B7TL820
AIA Group Ltd. 1299 HK 3.74 0.20 992,690 8,877,587 Hong Kong B4TX8S1
Samsung Electronics Co., Ltd. 005930 KS 3.72 0.35 222,523 8,837,480 Korea, (South) 6771720
Ping An Insurance (Group) 2318 HK 3.48 0.06 1,575,775 8,250,499 China B01FLR7
Prosus N.V., Class N PRX NA 3.46 0.08 149,050 8,217,568 Netherlands BJDS7L3
Teck Resources Ltd., Class B TECK 3.28 0.03 236,928 7,778,346 Canada 878742204 2124533
Amazon.com, Inc. AMZN 3.17 2.05 62,202 7,523,332 USA 023135106 2000019
Viatris Inc. VTRS 2.91 0.02 753,187 6,914,257 USA 92556V106 BMWS3X9
Meituan, Class B 3690 HK 2.89 0.18 307,740 6,856,744 China BGJW376
Alibaba Group Holding Ltd., ADR BABA 2.63 0.00 74,003 6,245,113 China 01609W102 BP41ZD1
Capital One Financial Corp. COF 2.53 0.07 60,710 6,006,647 USA 14040H105 2654461
Bank of N.T. Butterfield & Son Ltd. NTB 1.98 0.00 136,123 4,708,495 Bermuda G0772R208 BD8FF02
Applied Materials, Inc. AMAT 1.77 0.14 47,190 4,210,292 USA 038222105 2046552
Intel Corp. INTC 1.62 0.21 139,028 3,842,734 USA 458140100 2463247
Liberty Formula One, Series A FWONA 1.58 0.00 65,912 3,745,779 USA 531229870 BD72R64
Owens Corning OC 1.38 0.02 39,014 3,281,468 USA 690742101 B1FW7Q2
Darling Ingredients Inc. DAR 1.38 0.00 44,821 3,271,485 USA 237266101 2250289
Delivery Hero SE DHER GR 1.30 0.01 81,801 3,082,891 Germany BZCNB42
Coupang, Inc., Class A CPNG 1.20 0.00 143,936 2,857,130 Korea, (South) 22266T109 BNYHDF3
Naspers Ltd. - N NPN SJ 1.10 0.05 20,096 2,606,224 South Africa 6622691
Liberty Formula One, Series C FWONK 1.09 0.02 40,860 2,590,933 USA 531229854 BD8QGD5
Fila Holdings Corp. 081660 KS 0.97 0.00 108,696 2,308,745 Korea, (South) B66CTX7
IAC Inc. IAC 0.73 0.01 30,863 1,730,488 USA 44891N208 BNDYF48
Clear Secure, Inc., Class A YOU 0.61 0.00 55,482 1,440,868 USA 18467V109 BLD30T1
Noah Holdings Ltd., Class A, ADS NOAH 0.57 0.00 91,911 1,341,901 China 65487X102 B5MDP39
iQIYI, Inc., Class A, ADR IQ 0.26 0.00 239,463 627,393 China 46267X108 BYWT1W1
Metro Bank PLC MTRO LN 0.19 0.00 501,845 451,321 UK BZ6STL6
Vimeo, Inc. VMEO 0.06 0.00 32,314 139,596 USA 92719V100 BNDYF15
Cash Component 1.11 0.00 0 0
Total   100.00 6.41          

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



Calendar Year 2021 First Quarter 2022 Second Quarter 2022 Third Quarter 2022
Days traded at premium 154 10 16 9
Days traded at discount 98 52 46 55

Fund Details as of 10/5/22

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. 37
Number of Holdings in Benchmark Index 2,898
Investment Manager Davis Selected Advisers, L.P.
Total Net Assets ($M) 237.376
Exchange Cboe Global Markets, Inc.
CUSIP 23908L306
Custodian State Street Bank and Trust Company
Benchmark Index MSCI ACWI
Shares Outstanding 10,350,000
Dividend Frequency Annually
Options Available N
Daily Volume The number of shares traded during a given period of time. It is simply the amount of shares that trade hands from sellers to buyers as a measure of activity. If a buyer of a stock purchases 100 shares from a seller, then the volume for that period increased by 100 shares based on that transaction. Volume shown is the volume that traded on the primary exchange as of the date indicated. 22,162
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. 58,771
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. 0.30%
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. -0.34
Active Share (as of 9/30/22) 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 10/5/22

NAV Market Price
52 Week High 31.98 32.04
52 Week Low 21.98 21.86