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 4/20/21

DWLD MSCI ACWI
Selective Holdings The number of holdings in the Fund excluding cash positions and derivatives such as futures and currency forwards. 34 2,978
Attractive Growth EPS Growth (5 Year) This figure represents the annualized rate of net-income-per-share growth over the trailing five-year period for the stocks held by the Fund. 23.9% 16.8%
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. 13.7x 19.7x

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

Returns

  YTD 1 Yr 3 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 9.18% 74.91% 11.54% 14.73%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 9.89% 75.86% 11.56% 14.84%
MSCI ACWI The MSCI ACWI® (All Country World Index) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets throughout the world. The Index includes reinvestment of dividends, net foreign withholding taxes. Investments cannot be made directly in an index. 4.57% 54.60% 12.07% 13.39%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 9.18% 74.81% 10.90% 14.25%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 5.43% 44.41% 8.78% 11.59%

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

  YTD 1 Yr 3 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 8.40% 43.30% 9.74% 14.86%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 9.01% 42.48% 9.80% 14.94%
MSCI ACWI The MSCI ACWI® (All Country World Index) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets throughout the world. The Index includes reinvestment of dividends, net foreign withholding taxes. Investments cannot be made directly in an index. 1.85% 30.25% 10.29% 12.96%
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. 8.40% 43.22% 9.11% 14.37%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 4.97% 25.69% 7.36% 11.68%

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

  YTD 1 Yr 3 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 1.89% 27.44% 6.14% 13.42%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 2.34% 27.44% 6.11% 13.46%
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. -0.46% 17.02% 7.89% 12.59%
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. 1.89% 27.37% 5.53% 12.92%
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. 1.12% 16.30% 4.55% 10.49%

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

  YTD 1 Yr 3 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 23.29% 23.29% 7.88% 13.19%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 22.73% 22.73% 7.72% 13.11%
MSCI ACWI The MSCI ACWI® (All Country World Index) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets throughout the world. The Index includes reinvestment of dividends, net foreign withholding taxes. Investments cannot be made directly in an index. 16.25% 16.25% 10.06% 13.00%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 23.22% 23.22% 7.25% 12.68%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 13.84% 13.84% 5.91% 10.29%

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

  YTD 1 Yr 3 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 30.70% 30.70% -- 9.99%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 30.96% 30.96% -- 10.02%
MSCI ACWI The MSCI ACWI® (All Country World Index) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets throughout the world. The Index includes reinvestment of dividends, net foreign withholding taxes. Investments cannot be made directly in an index. 26.60% 26.60% -- 11.94%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 30.04% 30.04% -- 9.35%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 18.70% 18.70% -- 7.64%

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

  1 Yr 3 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. -22.10% -- 0.76%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -22.36% -- 0.70%
MSCI ACWI The MSCI ACWI® (All Country World Index) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets throughout the world. The Index includes reinvestment of dividends, net foreign withholding taxes. Investments cannot be made directly in an index. -9.42% -- 5.16%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. -22.99% -- 0.15%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. -12.73% -- 0.48%

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

  YTD 1 Yr 3 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 9.18% 74.91% 38.79% 78.58%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 9.89% 75.86% 38.86% 79.26%
MSCI ACWI The MSCI ACWI® (All Country World Index) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets throughout the world. The Index includes reinvestment of dividends, net foreign withholding taxes. Investments cannot be made directly in an index. 4.57% 54.60% 40.77% 69.94%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 9.18% 74.81% 36.42% 75.45%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 5.43% 44.41% 28.74% 58.81%

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

  YTD 1 Yr 3 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 8.40% 43.30% 32.19% 77.31%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 9.01% 42.48% 32.39% 77.83%
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. 1.85% 30.25% 34.17% 65.52%
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. 8.40% 43.22% 29.93% 74.20%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 4.97% 25.69% 23.76% 57.87%

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

  YTD 1 Yr 3 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 1.89% 27.44% 19.58% 66.67%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 2.34% 27.44% 19.46% 66.94%
MSCI ACWI The MSCI ACWI® (All Country World Index) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets throughout the world. The Index includes reinvestment of dividends, net foreign withholding taxes. Investments cannot be made directly in an index. -0.46% 17.02% 25.63% 61.77%
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. 1.89% 27.37% 17.54% 63.75%
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. 1.12% 16.30% 14.29% 49.90%

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

  YTD 1 Yr 3 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 23.29% 23.29% 25.54% 63.57%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 22.73% 22.73% 25.01% 63.12%
MSCI ACWI The MSCI ACWI® (All Country World Index) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets throughout the world. The Index includes reinvestment of dividends, net foreign withholding taxes. Investments cannot be made directly in an index. 16.25% 16.25% 33.32% 62.51%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 23.22% 23.22% 23.39% 60.70%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 13.84% 13.84% 18.81% 47.58%

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

  YTD 1 Yr 3 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 30.70% 30.70% -- 32.67%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 30.96% 30.96% -- 32.77%
MSCI ACWI The MSCI ACWI® (All Country World Index) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets throughout the world. The Index includes reinvestment of dividends, net foreign withholding taxes. Investments cannot be made directly in an index. 26.60% 26.60% -- 39.79%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 30.04% 30.04% -- 30.41%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 18.70% 18.70% -- 24.43%

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

  1 Yr 3 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. -22.10% -- 1.50%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -22.36% -- 1.38%
MSCI ACWI The MSCI ACWI® (All Country World Index) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets throughout the world. The Index includes reinvestment of dividends, net foreign withholding taxes. Investments cannot be made directly in an index. -9.42% -- 10.42%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. -22.99% -- 0.29%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. -12.73% -- 0.94%

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

Historical Prices as of 4/20/21

Regions as of 4/20/21

DWLD (%) MSCI ACWI (%)
United States 47.9% 58.0%
Emerging Markets 29.5% 12.7%
Developed Ex US 22.7% 29.2%

Top Sectors as of 4/20/21 The Fund generally uses the Global Industry Classification Standard (“GICS”) to determine industry classification. GICS presents industry classification as a series of levels. Allocations shown are at the sector level. For purposes of measuring concentration, the Fund generally classifies companies at the “industry group” or “industry” level. See the Fund’s SAI for additional information. Data is provided by an external service provider and, in limited instances, the classifications may vary from the classifications assigned by Davis Advisors. Industry classification weightings are subject to change.

DWLD (%) MSCI ACWI (%)
Financials 38.7% 14.6%
Consumer Discretionary 29.7% 12.8%
Communication Services 15.5% 9.6%
Information Technology 11.0% 21.0%
Health Care 3.6% 11.4%
Industrials 1.5% 9.8%

Holdings as of 4/20/21

Name DWLD (%) MSCI ACWI (%) Country
Alphabet 6.54% 2.13% USA
Capital One Financial 6.40% 0.09% USA
Wells Fargo & Co. 5.76% 0.26% USA
New Oriental Education & Technology 5.59% 0.04% China
DBS Group Holdings 5.02% 0.06% Singapore
DNB ASA 4.55% 0.03% Norway
Alibaba Group Holding 4.20% 0.68% China
Berkshire Hathaway 4.15% 0.57% USA
Facebook 4.02% 1.13% USA
Naspers 3.93% 0.16% South Africa
Name Ticker DWLD (%) MSCI ACWI (%) Shares Market Value ($) Country CUSIP SEDOL
Alphabet Inc., Class C GOOG 6.54 1.06 11,719 26,879,050 USA 02079K107 BYY88Y7
Capital One Financial Corp. COF 6.40 0.09 199,967 26,295,661 USA 14040H105 2654461
Wells Fargo & Co. WFC 5.76 0.26 556,885 23,689,888 USA 949746101 2649100
New Oriental Education & Tech ADR EDU 5.59 0.04 1,421,270 22,967,723 China 647581107 B1CN1G6
DBS Group Holdings Ltd. DBS SP 5.02 0.06 943,636 20,612,184 Singapore 6175203
DNB ASA DNB NO 4.55 0.03 870,686 18,703,155 Norway 4263304
Alibaba Group Holding Ltd., ADR BABA 4.20 0.68 75,128 17,270,425 China 01609W102 BP41ZD1
Berkshire Hathaway Inc., Class B BRK B 4.15 0.57 63,695 17,063,254 USA 084670702 2073390
Facebook Inc., Class A FB 4.02 1.13 54,549 16,509,255 USA 30303M102 B7TL820
Naspers Ltd. - N NPN SJ 3.93 0.16 67,749 16,164,449 South Africa 6622691
Danske Bank A/S DANSKE DC 3.77 0.02 859,367 15,499,187 Denmark 4588825
AIA Group Ltd. 1299 HK 3.73 0.24 1,214,790 15,346,775 Hong Kong B4TX8S1
TAL Education Group, Class A, ADR TAL 3.62 0.04 237,392 14,870,235 China 874080104 B4MGD82
JD.com, Inc., Class A, ADR JD 3.35 0.10 184,609 13,762,601 China 47215P106 BMM27D9
Meituan, Class B 3690 HK 3.30 0.21 359,040 13,582,109 China BGJW376
Amazon.com, Inc. AMZN 3.09 2.22 3,813 12,715,173 USA 023135106 2000019
Samsung Electronics Co., Ltd. 005930 KS 3.02 0.56 164,725 12,424,531 Korea, (South) 6771720
Applied Materials, Inc. AMAT 2.90 0.18 92,652 11,914,121 USA 038222105 2046552
Intel Corp. INTC 2.87 0.40 187,883 11,780,264 USA 458140100 2463247
Viatris Inc. VTRS 2.27 0.03 710,391 9,313,226 USA 92556V106 BMWS3X9
IAC/InterActiveCorp IAC 2.18 0.03 37,960 8,968,050 USA 44891N109 BMGTSK0
Hollysys Automation Technologies Ltd. HOLI 2.02 0.00 649,347 8,298,655 China G45667105 B0JCH50
Julius Baer Group Ltd. BAER SE 1.98 0.02 128,293 8,131,316 Switzerland B4R2R50
Bank of N.T. Butterfield & Son Ltd. NTB 1.52 0.00 166,657 6,252,971 Bermuda G0772R208 BD8FF02
Carrier Global Corp. CARR 1.51 0.05 146,084 6,211,492 USA 14448C104 BK4N0D7
Cigna Corp CI 1.32 0.14 21,398 5,421,611 USA 125523100 BHJ0775
Liberty Formula One, Series C FWONK 1.19 0.01 106,266 4,885,048 USA 531229854 BD8QGD5
Quotient Technology Inc. QUOT 1.08 0.00 284,667 4,420,879 USA 749119103 BYWCCM7
Vroom, Inc. VRM 1.03 0.00 101,216 4,212,610 USA 92918V109 BMFZYY5
Noah Holdings Ltd., Class A, ADS NOAH 0.96 0.00 95,987 3,949,865 China 65487X102 B5MDP39
Liberty Formula One, Series A FWONA 0.80 0.00 79,912 3,267,602 USA 531229870 BD72R64
Baidu, Inc., Class A, ADR BIDU 0.45 0.09 8,943 1,860,055 China 056752108 B0FXT17
Metro Bank PLC MTRO LN 0.23 0.00 614,460 962,424 UK BZ6STL6
Kuaishou Technology, Class B 1024 HK 0.03 0.01 4,200 133,123 China BLC90T0
Cash Component 1.62 0.00 0 0
Total   100.00 8.43          

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



Calendar Year 2020 First Quarter 2021
Days traded at premium 149 57
Days traded at discount 104 4

Fund Details as of 4/20/21

Inception Date 1/11/17
Ticker DWLD
Objective Long-term growth of capital
Expense Ratio The Advisors has contractually agreed to waive fees and/or reimburse the Fund’s expenses to the extent necessary to cap total annual fund operating expenses at 0.65% until March 1, 2021. After that date, there is no assurance that Davis Selected Advisers, L.P. will continue to waive fees and/or reimburse expenses. The agreement cannot be terminated prior to that date, without the consent of the Board of Trustees. 0.63%
Number of Holdings The number of holdings in the Fund excluding cash positions and derivatives such as futures and currency forwards. 34
Number of Holdings in Benchmark Index 2,978
Investment Manager Davis Selected Advisers, L.P.
Total Net Assets ($M) 410.957
Exchange Cboe Global Markets, Inc.
CUSIP 23908L306
Custodian State Street Bank and Trust Company
Benchmark Index MSCI ACWI
Shares Outstanding 11,850,000
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. 21,559
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. 27,859
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. 0.35%
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. -0.06
Active Share (as of 3/31/21) Active Share is a measure of the percentage of stock holdings in a manager's portfolio that differ from the benchmark index. 90%

52 Week High/Low as of 4/20/21

NAV Market Price
52 Week High 35.21 35.32
52 Week Low 19.98 19.87