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 03/31/24

Fund
Selective Holdings The number of holdings in the Fund excluding cash positions and derivatives such as futures and currency forwards. 38
Attractive Growth EPS Growth (5 Year) This figure represents the annualized rate of net-income-per-share growth over the trailing five-year period for the stocks held by the Fund. 16.9%
Undervalued P/E (Forward) Forward price to earnings (forward P/E) is a measure of the price-to-earnings (P/E) ratio using forecasted earnings for the P/E calculation. 11.0x

Returns

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 9.63% 24.22% -0.19% 8.18% 8.27%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 9.69% 24.40% -0.28% 8.15% 8.29%
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. 8.20% 23.22% 6.95% 10.90% 10.67%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 9.63% 23.99% -0.35% 7.95% 7.94%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 5.70% 14.67% -0.10% 6.46% 6.56%

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. 4.30% 16.78% -1.60% 7.17% 7.62%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 4.05% 16.68% -1.76% 7.09% 7.59%
MSCI ACWI The MSCI ACWI® (All Country World Index) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets throughout the world. The Index includes reinvestment of dividends, net foreign withholding taxes. Investments cannot be made directly in an index. 4.90% 23.15% 6.79% 10.50% 10.32%
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. 4.30% 16.56% -1.76% 6.94% 7.28%
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. 2.55% 10.27% -1.16% 5.65% 6.03%

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

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. -2.03% 4.46% -1.63% 6.56% 6.76%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -1.88% 4.71% -1.61% 6.61% 6.79%
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. 0.59% 14.70% 6.12% 10.16% 9.79%
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. -2.03% 4.26% -1.79% 6.34% 6.42%
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. -1.20% 2.97% -1.17% 5.18% 5.33%

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. 9.63% 24.22% -0.57% 48.20% 77.55%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 9.69% 24.40% -0.84% 48.03% 77.74%
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. 8.20% 23.22% 22.35% 67.87% 107.92%
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. 9.63% 23.99% -1.06% 46.64% 73.59%
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. 5.70% 14.67% -0.30% 36.78% 58.26%

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. 4.30% 16.78% -4.73% 41.39% 68.92%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 4.05% 16.68% -5.18% 40.90% 68.61%
MSCI ACWI The MSCI ACWI® (All Country World Index) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets throughout the world. The Index includes reinvestment of dividends, net foreign withholding taxes. Investments cannot be made directly in an index. 4.90% 23.15% 21.80% 64.80% 101.60%
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. 4.30% 16.56% -5.20% 39.91% 65.15%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 2.55% 10.27% -3.45% 31.67% 51.85%

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. -2.03% 4.46% -4.80% 37.42% 58.67%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -1.88% 4.71% -4.76% 37.76% 59.00%
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. 0.59% 14.70% 19.49% 62.25% 93.30%
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. -2.03% 4.26% -5.26% 35.98% 55.12%
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. -1.20% 2.97% -3.47% 28.73% 44.22%

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 4/12/24

Regions as of 4/12/24

DWLD (%) MSCI ACWI (%)
United States 51.5% 63.6%
Developed Ex US 27.2% 26.5%
Emerging Markets 21.3% 9.8%

Top Sectors as of 4/12/24 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 37.5% 15.0%
Consumer Discretionary 24.3% 10.9%
Communication Services 12.6% 7.8%
Health Care 8.9% 10.8%
Information Technology 7.4% 23.0%
Materials 3.4% 4.3%
Real Estate 2.5% 2.1%
Industrials 1.8% 10.7%
Energy 1.0% 4.8%
Consumer Staples 0.6% 6.3%

Holdings as of 4/12/24

Name DWLD (%) MSCI ACWI (%) Country
Meta Platforms 7.90% 1.61% USA
Capital One Financial 5.26% 0.08% USA
Meituan 4.98% 0.09% China
Wells Fargo 4.83% 0.29% USA
Danske Bank 4.73% 0.03% Denmark
Julius Baer Group 4.65% 0.02% Switzerland
Berkshire Hathaway 4.51% 0.75% USA
Prosus 4.37% 0.06% Netherlands
DBS Group Holdings 4.27% 0.07% Singapore
Samsung Electronics 4.17% 0.47% Korea, (South)
Name Ticker DWLD (%) MSCI ACWI (%) Shares Market Value ($) Country CUSIP SEDOL
Meta Platforms, Inc., Class A META 7.90 1.61 44,835 22,951,037 USA 30303M102 B7TL820
Capital One Financial Corp. COF 5.26 0.08 109,481 15,285,737 USA 14040H105 2654461
Meituan, Class B 3690 HK 4.98 0.09 1,138,040 14,473,636 China BGJW376
Wells Fargo & Co. WFC 4.83 0.29 248,419 14,028,221 USA 949746101 2649100
Danske Bank A/S DANSKE DC 4.73 0.03 475,671 13,759,686 Denmark 4588825
Julius Baer Group Ltd. BAER SE 4.65 0.02 241,330 13,508,988 Switzerland B4R2R50
Berkshire Hathaway Inc., Class B BRK B 4.51 0.75 32,482 13,098,691 USA 084670702 2073390
Prosus N.V., Class N PRX NA 4.37 0.06 405,620 12,702,027 Netherlands BJDS7L3
DBS Group Holdings Ltd. DBS SP 4.27 0.07 470,036 12,404,380 Singapore 6175203
Samsung Electronics Co., Ltd. 005930 KS 4.17 0.41 201,808 12,117,053 Korea, (South) 6771720
Amazon.com, Inc. AMZN 4.10 2.46 64,038 11,919,393 USA 023135106 2000019
Ping An Insurance (Group) 2318 HK 4.10 0.04 3,100,115 11,918,452 China B01FLR7
MGM Resorts International MGM 3.71 0.02 253,789 10,780,957 USA 552953101 2547419
Teck Resources Ltd., Class B TECK 3.40 0.03 206,513 9,891,973 Canada 878742204 2124533
Humana Inc. HUM 3.39 0.05 31,520 9,852,837 USA 444859102 2445063
Applied Materials, Inc. AMAT 2.86 0.25 39,991 8,312,529 USA 038222105 2046552
Alphabet Inc., Class C GOOG 2.81 1.16 51,259 8,159,920 USA 02079K107 BYY88Y7
Viatris Inc. VTRS 2.58 0.02 661,413 7,493,809 USA 92556V106 BMWS3X9
KE Holdings Inc., Class A, ADR BEKE 2.46 0.01 543,858 7,157,171 China 482497104 BMBX7M2
AIA Group Ltd. 1299 HK 2.30 0.10 1,096,890 6,695,265 Hong Kong B4TX8S1
The Cigna Group CI 2.13 0.15 17,659 6,177,825 USA 125523100 BHJ0775
Delivery Hero SE DHER GR 1.99 0.01 173,716 5,779,408 Germany BZCNB42
Markel Group Inc. MKL 1.89 0.03 3,843 5,505,251 USA 570535104 2566436
JD.com, Inc., Class A, ADR JD 1.77 0.00 202,641 5,145,055 China 47215P106 BMM27D9
Naspers Ltd. - N NPN SJ 1.43 0.05 23,594 4,150,628 South Africa BN0VX82
Tourmaline Oil Corp. TOU CN 1.02 0.02 62,505 2,978,935 Canada B3QJ0H8
Liberty Formula One, Series A FWONA 1.01 0.00 49,378 2,937,497 USA 531229771 BPLYVM4
Fila Holdings Corp. 081660 KS 0.93 0.00 98,651 2,717,055 Korea, (South) B66CTX7
Coupang, Inc., Class A CPNG 0.89 0.00 122,006 2,592,628 Korea, (South) 22266T109 BNYHDF3
Owens Corning OC 0.89 0.02 15,644 2,589,238 USA 690742101 B1FW7Q2
AGCO Corporation AGCO 0.87 0.00 21,064 2,527,891 USA 001084102 2010278
IAC Inc. IAC 0.77 0.00 46,322 2,232,257 USA 44891N208 BNDYF48
Quest Diagnostics Inc. DGX 0.76 0.02 17,120 2,200,434 USA 74834L100 2702791
Darling Ingredients Inc. DAR 0.60 0.01 39,064 1,734,051 USA 237266101 2250289
Noah Holdings Ltd., Class A, ADS NOAH 0.42 0.00 95,866 1,233,795 China 65487X102 B5MDP39
Clear Secure, Inc., Class A YOU 0.31 0.00 47,029 910,952 USA 18467V109 BLD30T1
Metro Bank Holdings PLC MTRO LN 0.27 0.00 1,894,348 771,032 UK BMX3W47
South Korean Won 0.00 0.00 0 3 0 Foreign Currency
Cash Component 0.68 0.00 0 0
Canadian Dollar -0.01 0.00 0 -15,927 0 Foreign Currency
Total   100.00 7.86          

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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
Days traded at premium 69 43
Days traded at discount 181 18

Fund Details as of 4/12/24

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. 37
Number of Holdings in Benchmark Index 2,841
Investment Manager Davis Selected Advisers, L.P.
Total Net Assets ($M) 290.688
Exchange Cboe Global Markets, Inc.
CUSIP 23908L306
Custodian State Street Bank and Trust Company
Benchmark Index MSCI ACWI
Shares Outstanding 9,100,000
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. 11,285
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. 11,820
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. 0.28%
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. -0.12%
Active Share (as of 3/31/24) 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 4/12/24

NAV Market Price
52 Week High 32.88 33.22
52 Week Low 26.08 25.88