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 09/30/24

Selective Attractive Growth Undervalued

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

DWLD portfolio companies have offered attractive growth

DWLD portfolio companies are 50% 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.
2687
39
DWLD
MSCI ACWI
19.2%
15.8%
DWLD
MSCI ACWI
9.7x
19.3x
DWLD
MSCI ACWI
DWLD
MSCI ACWI

  “The companies of Davis Select Worldwide ETF have grown more than the companies in the index, yet are 50% 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.”

Danton Goei , Portfolio Manager

Returns

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 27.72% 43.54% 7.87% 11.10% 9.75%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 27.88% 43.89% 8.01% 11.10% 9.78%
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. 16.00% 32.79% 5.50% 11.07% 10.81%
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. 27.72% 43.26% 7.70% 10.87% 9.44%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 16.41% 26.08% 6.11% 8.83% 7.82%

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. 28.87% 40.09% 9.73% 11.97% 9.99%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 27.96% 39.58% 9.53% 11.85% 9.90%
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. 18.66% 31.76% 8.08% 12.18% 11.26%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 28.87% 39.83% 9.56% 11.73% 9.67%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 17.09% 24.03% 7.58% 9.54% 8.02%

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. 17.47% 22.25% 4.84% 10.15% 8.78%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 17.58% 22.52% 4.92% 10.21% 8.80%
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. 15.97% 23.44% 5.76% 12.13% 11.06%
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. 17.47% 22.02% 4.67% 9.92% 8.46%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 10.34% 13.47% 3.75% 8.06% 7.00%

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

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 20.02% 20.02% -0.33% 9.79% 7.16%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 20.62% 20.62% -0.22% 9.86% 7.17%
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. 22.20% 22.20% 5.75% 11.71% 9.82%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 19.79% 19.79% -0.49% 9.56% 6.81%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 12.21% 12.21% -0.19% 7.80% 5.65%

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. -14.06% -14.06% 0.57% 0.70% 5.15%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -14.19% -14.19% 0.36% 0.58% 5.07%
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. -18.36% -18.36% 4.00% 5.22% 7.87%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. -14.15% -14.15% 0.45% 0.30% 4.78%
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. -8.16% -8.16% 0.49% 0.50% 3.99%

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. 27.72% 43.54% 25.55% 69.40% 106.84%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 27.88% 43.89% 26.05% 69.36% 107.22%
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. 16.00% 32.79% 17.45% 69.12% 122.92%
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. 27.72% 43.26% 24.93% 67.62% 102.22%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 16.41% 26.08% 19.50% 52.70% 80.03%

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. NAV and market price returns assume that all distributions were reinvested at NAV. Current performance may be lower or higher than the performance quoted. Since 1/11/17 Inception. 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. 28.87% 40.09% 32.17% 76.08% 108.70%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 27.96% 39.58% 31.43% 75.17% 107.34%
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. 18.66% 31.76% 26.28% 77.73% 128.04%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 28.87% 39.83% 31.53% 74.23% 104.04%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 17.09% 24.03% 24.54% 57.77% 81.42%

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. 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. 17.47% 22.25% 15.24% 62.26% 90.24%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 17.58% 22.52% 15.50% 62.67% 90.53%
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. 15.97% 23.44% 18.32% 77.35% 122.86%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 17.47% 22.02% 14.68% 60.56% 85.99%
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. 10.34% 13.47% 11.70% 47.40% 67.69%

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

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 20.02% 20.02% -0.99% 59.56% 61.95%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 20.62% 20.62% -0.66% 60.08% 62.04%
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. 22.20% 22.20% 18.25% 74.04% 92.17%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 19.79% 19.79% -1.47% 57.88% 58.34%
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. 12.21% 12.21% -0.57% 45.60% 46.67%

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. NAV and market price returns assume that all distributions were reinvested at NAV. Current performance may be lower or higher than the performance quoted. Since 1/11/17 Inception. 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. -14.06% -14.06% 1.72% 3.57% 34.94%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -14.19% -14.19% 1.08% 2.95% 34.34%
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. -18.36% -18.36% 12.50% 29.01% 57.26%
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. -14.15% -14.15% 1.35% 1.50% 32.18%
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. -8.16% -8.16% 1.47% 2.51% 26.35%

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.

Historical Prices as of 11/8/24

Regions as of 11/7/24

DWLD (%) MSCI ACWI (%)
United States 46.6% 65.9%
Developed Ex US 27.4% 24.2%
Emerging Markets 26.0% 9.8%

Top Sectors as of 11/7/24 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 32.9% 16.0%
Consumer Discretionary 30.7% 10.7%
Health Care 11.3% 10.2%
Communication Services 10.9% 7.9%
Information Technology 4.8% 25.0%
Energy 3.1% 4.1%
Materials 2.9% 3.8%
Real Estate 1.4% 2.1%
Consumer Staples 1.3% 5.9%
Industrials 0.8% 10.6%

Holdings as of 11/7/24

Name DWLD (%) MSCI ACWI (%) Country
Meituan 7.17% 0.16% China
Meta Platforms 6.39% 1.64% USA
Ping An Insurance Group 6.25% 0.06% China
Capital One Financial 5.47% 0.09% USA
Prosus 4.69% 0.08% Netherlands
Trip.com Group 4.59% 0.00% China
MGM Resorts 4.37% 0.01% USA
Julius Baer Group 4.19% 0.02% Switzerland
Danske Bank 3.76% 0.03% Denmark
Markel Group 3.75% 0.03% USA
Name Ticker DWLD (%) MSCI ACWI (%) Shares Market Value ($) Country CUSIP SEDOL
Meituan, Class B 3690 HK 7.17 0.16 981,340 25,761,754 China BGJW376
Meta Platforms, Inc., Class A META 6.39 1.64 38,835 22,978,670 USA 30303M102 B7TL820
Ping An Insurance (Group) 2318 HK 6.25 0.06 3,312,015 22,457,583 China B01FLR7
Capital One Financial Corp. COF 5.47 0.09 106,433 19,670,947 USA 14040H105 2654461
Prosus N.V., Class N PRX NA 4.69 0.08 394,348 16,861,792 Netherlands BJDS7L3
Trip.com Group Ltd., ADR TCOM 4.59 0.00 241,080 16,497,104 China 89677Q107 BK1K3N2
MGM Resorts International MGM 4.37 0.01 417,253 15,717,921 USA 552953101 2547419
Julius Baer Group Ltd. BAER SE 4.19 0.02 234,624 15,062,654 Switzerland B4R2R50
Danske Bank A/S DANSKE DC 3.76 0.03 446,091 13,520,094 Denmark 4588825
Markel Group Inc. MKL 3.75 0.03 8,239 13,480,157 USA 570535104 2566436
Berkshire Hathaway Inc., Class B BRK B 3.66 0.77 28,558 13,140,393 USA 084670702 2073390
Tourmaline Oil Corp. TOU CN 3.10 0.02 244,746 11,151,060 Canada B3QJ0H8
Amazon.com, Inc. AMZN 3.06 2.48 52,359 10,998,008 USA 023135106 2000019
Samsung Electronics Co., Ltd. 005930 KS 2.95 0.25 255,144 10,603,109 Korea, (South) 6771720
Teck Resources Ltd., Class B TECK 2.85 0.03 200,779 10,251,776 Canada 878742204 2124533
Solventum Corp. SOLV 2.83 0.01 135,641 10,182,570 USA 83444M101 BMTQB43
Viatris Inc. VTRS 2.70 0.02 737,163 9,715,808 USA 92556V106 BMWS3X9
Alphabet Inc., Class C GOOG 2.53 1.16 49,831 9,083,195 USA 02079K107 BYY88Y7
Humana Inc. HUM 2.45 0.04 30,650 8,819,844 USA 444859102 2445063
AIA Group Ltd. 1299 HK 2.40 0.11 1,066,090 8,630,324 Hong Kong B4TX8S1
Delivery Hero SE DHER GR 1.90 0.01 168,890 6,826,356 Germany BZCNB42
The Cigna Group CI 1.53 0.11 17,169 5,485,324 USA 125523100 BHJ0775
Naspers Ltd. - N NPN SJ 1.53 0.05 22,932 5,484,820 South Africa BN0VX82
Entain plc ENT LN 1.52 0.01 569,922 5,470,514 UK B5VQMV6
KE Holdings Inc., Class A, ADR BEKE 1.43 0.02 218,738 5,140,343 China 482497104 BMBX7M2
Applied Materials, Inc. AMAT 1.42 0.20 26,307 5,105,926 USA 038222105 2046552
Wells Fargo & Co. WFC 1.27 0.31 65,124 4,546,958 USA 949746101 2649100
Sea Limited, Class A, ADR SE 1.20 0.04 45,114 4,318,312 Singapore 81141R100 BYWD7L4
DBS Group Holdings Ltd. DBS SP 0.96 0.08 109,539 3,458,253 Singapore 6175203
CVS Health Corporation CVS 0.94 0.09 59,500 3,395,665 USA 126650100 2577609
Tyson Foods, Inc., Class A TSN 0.84 0.02 51,334 3,013,819 USA 902494103 2909730
Coupang, Inc., Class A CPNG 0.83 0.00 118,619 2,978,523 Korea, (South) 22266T109 BNYHDF3
AGCO Corporation AGCO 0.78 0.00 29,881 2,812,400 USA 001084102 2010278
Quest Diagnostics Inc. DGX 0.72 0.02 16,638 2,598,856 USA 74834L100 2702791
FILA Holdings Corp. 081660 KS 0.72 0.00 95,909 2,581,454 Korea, (South) B66CTX7
IAC Inc. IAC 0.68 0.00 45,032 2,448,390 USA 44891N208 BNDYF48
Metro Bank Holdings PLC MTRO LN 0.53 0.00 1,841,698 1,891,415 UK BMX3W47
Darling Ingredients Inc. DAR 0.43 0.00 37,980 1,532,493 USA 237266101 2250289
Clear Secure, Inc., Class A YOU 0.36 0.00 45,723 1,304,477 USA 18467V109 BLD30T1
Noah Holdings Ltd., Class A, ADS NOAH 0.34 0.00 94,824 1,227,971 China 65487X102 B5MDP39
Cash Component 0.91 0.00 0 0
Total   100.00 7.97          

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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 2023 First Quarter 2024 Second Quarter 2024 Third Quarter 2024
Days traded at premium 69 43 26 18
Days traded at discount 181 18 37 46

Fund Details as of 11/7/24

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, 2025. 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. 40
Number of Holdings in Benchmark Index 2,687
Investment Manager Davis Selected Advisers, L.P.
Total Net Assets ($M) 359.372
Exchange Cboe Global Markets, Inc.
CUSIP 23908L306
Custodian State Street Bank and Trust Company
Benchmark Index MSCI ACWI
Shares Outstanding 9,050,000
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. 5,525
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. 10,497
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. 0.36%
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. 0.04%
Active Share (as of 10/31/24) 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 11/7/24

NAV Market Price
52 Week High 39.71 39.85
52 Week Low 27.61 27.40