Fund Overview

  • Seeks high-conviction, best-of-breed businesses
  • Benchmark-agnostic. Seeks to outperform the index, not mirror it
  • Low expected turnover and a strategic, long term time horizon
  • Traditional benefits of ETFs: Low cost, tax efficient, intra-day liquidity and transparent ETFs are subject to commission costs each time a buy or sell is executed. Depending on the amount of trading activity, the low costs of ETFs may be outweighed by commissions and related trading costs.

Selective, Attractive Growth, Undervalued The Attractive Growth and Undervalued reference in this piece relates to underlying characteristics of the portfolio holdings. There is no guarantee that Fund performance will be positive as equity markets are volatile and an investor may lose money. as of 12/31/24

Selective Attractive Growth Undervalued

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

DUSA portfolio companies have grown more than the indices

DUSA portfolio companies are significantly less expensive than the indices

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.
869
503
27
21.9%
17.7%
9.6%
14.3x
24.9x
18.9x
DUSA
S&P 500
Russell 1000 Value

   The companies of Davis Select U.S. Equity ETF have grown more than the companies in the indexes, yet are significantly less expensive:

  • P/E 43% less expensive than the S&P 500®
  • P/E 24% less expensive than the Russell 1000 Value Index

Returns

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 6.49% 16.70% 12.56% 14.99% 11.89%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 6.22% 16.59% 12.55% 15.02% 11.89%
Russell 1000 Value The Russell 1000 Value Index (R1V) measures the performance of the large-cap value segment of the US equity universe. It includes those Russell 1000 companies with relatively lower price-to-book ratios, lower I/B/E/S forecast medium term (2 year) growth and lower sales per share historical growth (5 years). The Russell 1000 Value Index is constructed to provide a comprehensive and unbiased barometer for the large-cap value segment. The index is completely reconstituted annually to ensure new and growing equities are included and that the represented companies continue to reflect value characteristics. 5.05% 15.75% 8.64% 12.50% 9.42%
S&P 500 The S&P 500® Index is an unmanaged index of 500 selected common stocks, most of which are listed on the New York Stock Exchange. The Index is adjusted for dividends, weighted towards stocks with large market capitalizations and represents approximately two-thirds of the total market value of all domestic common stocks. Investments cannot be made directly in an index. 1.44% 18.41% 12.54% 16.84% 14.50%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 6.49% 16.46% 12.08% 14.61% 11.49%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 3.84% 10.04% 9.73% 12.01% 9.64%

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

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 7.99% 26.67% 11.88% 13.55% 12.21%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 7.91% 26.66% 11.96% 13.58% 12.23%
Russell 1000 Value The Russell 1000 Value Index (R1V) measures the performance of the large-cap value segment of the US equity universe. It includes those Russell 1000 companies with relatively lower price-to-book ratios, lower I/B/E/S forecast medium term (2 year) growth and lower sales per share historical growth (5 years). The Russell 1000 Value Index is constructed to provide a comprehensive and unbiased barometer for the large-cap value segment. The index is completely reconstituted annually to ensure new and growing equities are included and that the represented companies continue to reflect value characteristics. 4.63% 19.54% 8.08% 10.14% 9.46%
S&P 500 The S&P 500® Index is an unmanaged index of 500 selected common stocks, most of which are listed on the New York Stock Exchange. The Index is adjusted for dividends, weighted towards stocks with large market capitalizations and represents approximately two-thirds of the total market value of all domestic common stocks. Investments cannot be made directly in an index. 2.78% 26.38% 11.90% 15.15% 14.84%
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. 7.99% 26.41% 11.41% 13.18% 11.80%
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. 4.73% 15.95% 9.19% 10.81% 9.91%

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

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 20.48% 20.48% 9.12% 11.76% 11.27%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 20.44% 20.44% 9.12% 11.80% 11.30%
Russell 1000 Value The Russell 1000 Value Index (R1V) measures the performance of the large-cap value segment of the US equity universe. It includes those Russell 1000 companies with relatively lower price-to-book ratios, lower I/B/E/S forecast medium term (2 year) growth and lower sales per share historical growth (5 years). The Russell 1000 Value Index is constructed to provide a comprehensive and unbiased barometer for the large-cap value segment. The index is completely reconstituted annually to ensure new and growing equities are included and that the represented companies continue to reflect value characteristics. 14.37% 14.37% 5.63% 8.67% 8.95%
S&P 500 The S&P 500® Index is an unmanaged index of 500 selected common stocks, most of which are listed on the New York Stock Exchange. The Index is adjusted for dividends, weighted towards stocks with large market capitalizations and represents approximately two-thirds of the total market value of all domestic common stocks. Investments cannot be made directly in an index. 25.02% 25.02% 8.93% 14.51% 14.61%
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. 20.24% 20.24% 8.66% 11.40% 10.85%
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. 12.30% 12.30% 7.02% 9.33% 9.10%

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. 20.48% 20.48% 9.12% 11.76% 11.27%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 20.44% 20.44% 9.12% 11.80% 11.30%
Russell 1000 Value The Russell 1000 Value Index (R1V) measures the performance of the large-cap value segment of the US equity universe. It includes those Russell 1000 companies with relatively lower price-to-book ratios, lower I/B/E/S forecast medium term (2 year) growth and lower sales per share historical growth (5 years). The Russell 1000 Value Index is constructed to provide a comprehensive and unbiased barometer for the large-cap value segment. The index is completely reconstituted annually to ensure new and growing equities are included and that the represented companies continue to reflect value characteristics. 14.37% 14.37% 5.63% 8.67% 8.95%
S&P 500 The S&P 500® Index is an unmanaged index of 500 selected common stocks, most of which are listed on the New York Stock Exchange. The Index is adjusted for dividends, weighted towards stocks with large market capitalizations and represents approximately two-thirds of the total market value of all domestic common stocks. Investments cannot be made directly in an index. 25.02% 25.02% 8.93% 14.51% 14.61%
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. 20.24% 20.24% 8.66% 11.40% 10.85%
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. 12.30% 12.30% 7.02% 9.33% 9.10%

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. 33.66% 33.66% 8.27% 13.55% 10.01%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 34.15% 34.15% 8.30% 13.62% 10.05%
S&P 500 The S&P 500® Index is an unmanaged index of 500 selected common stocks, most of which are listed on the New York Stock Exchange. The Index is adjusted for dividends, weighted towards stocks with large market capitalizations and represents approximately two-thirds of the total market value of all domestic common stocks. Investments cannot be made directly in an index. 26.29% 26.29% 10.00% 15.68% 13.20%
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. 32.62% 32.62% 7.79% 13.16% 9.57%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 20.67% 20.67% 6.39% 10.85% 7.97%

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. -19.30% -19.30% 2.71% 4.55% 6.48%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -19.55% -19.55% 2.65% 4.43% 6.46%
S&P 500 The S&P 500® Index is an unmanaged index of 500 selected common stocks, most of which are listed on the New York Stock Exchange. The Index is adjusted for dividends, weighted towards stocks with large market capitalizations and represents approximately two-thirds of the total market value of all domestic common stocks. Investments cannot be made directly in an index. -18.11% -18.11% 7.65% 9.42% 11.14%
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. -19.53% -19.53% 2.48% 4.17% 6.13%
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. -11.26% -11.26% 2.09% 3.47% 5.04%

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

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 6.49% 16.70% 42.64% 101.10% 149.54%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 6.22% 16.59% 42.61% 101.42% 149.46%
Russell 1000 Value The Russell 1000 Value Index (R1V) measures the performance of the large-cap value segment of the US equity universe. It includes those Russell 1000 companies with relatively lower price-to-book ratios, lower I/B/E/S forecast medium term (2 year) growth and lower sales per share historical growth (5 years). The Russell 1000 Value Index is constructed to provide a comprehensive and unbiased barometer for the large-cap value segment. The index is completely reconstituted annually to ensure new and growing equities are included and that the represented companies continue to reflect value characteristics. 5.05% 15.75% 28.27% 80.27% 108.10%
S&P 500 The S&P 500® Index is an unmanaged index of 500 selected common stocks, most of which are listed on the New York Stock Exchange. The Index is adjusted for dividends, weighted towards stocks with large market capitalizations and represents approximately two-thirds of the total market value of all domestic common stocks. Investments cannot be made directly in an index. 1.44% 18.41% 42.58% 117.88% 201.02%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 6.49% 16.46% 40.84% 97.80% 142.23%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 3.84% 10.04% 32.16% 76.38% 111.51%

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. 7.99% 26.67% 40.10% 88.94% 153.06%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 7.91% 26.66% 40.38% 89.13% 153.42%
Russell 1000 Value The Russell 1000 Value Index (R1V) measures the performance of the large-cap value segment of the US equity universe. It includes those Russell 1000 companies with relatively lower price-to-book ratios, lower I/B/E/S forecast medium term (2 year) growth and lower sales per share historical growth (5 years). The Russell 1000 Value Index is constructed to provide a comprehensive and unbiased barometer for the large-cap value segment. The index is completely reconstituted annually to ensure new and growing equities are included and that the represented companies continue to reflect value characteristics. 4.63% 19.54% 26.27% 62.16% 107.26%
S&P 500 The S&P 500® Index is an unmanaged index of 500 selected common stocks, most of which are listed on the New York Stock Exchange. The Index is adjusted for dividends, weighted towards stocks with large market capitalizations and represents approximately two-thirds of the total market value of all domestic common stocks. Investments cannot be made directly in an index. 2.78% 26.38% 40.14% 102.59% 205.00%
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. 7.99% 26.41% 38.33% 85.84% 145.64%
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. 4.73% 15.95% 30.21% 67.13% 114.10%

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. 20.48% 20.48% 29.96% 74.50% 134.33%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 20.44% 20.44% 29.98% 74.76% 134.85%
Russell 1000 Value The Russell 1000 Value Index (R1V) measures the performance of the large-cap value segment of the US equity universe. It includes those Russell 1000 companies with relatively lower price-to-book ratios, lower I/B/E/S forecast medium term (2 year) growth and lower sales per share historical growth (5 years). The Russell 1000 Value Index is constructed to provide a comprehensive and unbiased barometer for the large-cap value segment. The index is completely reconstituted annually to ensure new and growing equities are included and that the represented companies continue to reflect value characteristics. 14.37% 14.37% 17.87% 51.65% 98.09%
S&P 500 The S&P 500® Index is an unmanaged index of 500 selected common stocks, most of which are listed on the New York Stock Exchange. The Index is adjusted for dividends, weighted towards stocks with large market capitalizations and represents approximately two-thirds of the total market value of all domestic common stocks. Investments cannot be made directly in an index. 25.02% 25.02% 29.29% 97.02% 196.73%
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. 20.24% 20.24% 28.32% 71.63% 127.46%
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. 12.30% 12.30% 22.59% 56.31% 100.27%

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. 20.48% 20.48% 29.96% 74.50% 134.33%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 20.44% 20.44% 29.98% 74.76% 134.85%
Russell 1000 Value The Russell 1000 Value Index (R1V) measures the performance of the large-cap value segment of the US equity universe. It includes those Russell 1000 companies with relatively lower price-to-book ratios, lower I/B/E/S forecast medium term (2 year) growth and lower sales per share historical growth (5 years). The Russell 1000 Value Index is constructed to provide a comprehensive and unbiased barometer for the large-cap value segment. The index is completely reconstituted annually to ensure new and growing equities are included and that the represented companies continue to reflect value characteristics. 14.37% 14.37% 17.87% 51.65% 98.09%
S&P 500 The S&P 500® Index is an unmanaged index of 500 selected common stocks, most of which are listed on the New York Stock Exchange. The Index is adjusted for dividends, weighted towards stocks with large market capitalizations and represents approximately two-thirds of the total market value of all domestic common stocks. Investments cannot be made directly in an index. 25.02% 25.02% 29.29% 97.02% 196.73%
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. 20.24% 20.24% 28.32% 71.63% 127.46%
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. 12.30% 12.30% 22.59% 56.31% 100.27%

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. 33.66% 33.66% 26.91% 88.86% 94.49%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 34.15% 34.15% 27.03% 89.42% 95.00%
S&P 500 The S&P 500® Index is an unmanaged index of 500 selected common stocks, most of which are listed on the New York Stock Exchange. The Index is adjusted for dividends, weighted towards stocks with large market capitalizations and represents approximately two-thirds of the total market value of all domestic common stocks. Investments cannot be made directly in an index. 26.29% 26.29% 33.10% 107.21% 137.35%
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. 32.62% 32.62% 25.23% 85.64% 89.17%
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. 20.67% 20.67% 20.42% 67.42% 70.74%

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. -19.30% -19.30% 8.36% 24.94% 45.51%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -19.55% -19.55% 8.16% 24.19% 45.35%
S&P 500 The S&P 500® Index is an unmanaged index of 500 selected common stocks, most of which are listed on the New York Stock Exchange. The Index is adjusted for dividends, weighted towards stocks with large market capitalizations and represents approximately two-thirds of the total market value of all domestic common stocks. Investments cannot be made directly in an index. -18.11% -18.11% 24.79% 56.88% 87.94%
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. -19.53% -19.53% 7.63% 22.70% 42.64%
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. -11.26% -11.26% 6.42% 18.61% 34.15%

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 3/28/25

Top Sectors as of 3/28/25 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.

DUSA (%) S&P 500 (%)
Financials 38.0% 14.6%
Health Care 20.0% 11.1%
Consumer Discretionary 13.7% 10.4%
Communication Services 12.6% 9.2%
Information Technology 5.6% 29.8%
Energy 3.6% 3.6%
Industrials 3.0% 8.5%
Consumer Staples 2.1% 6.0%
Materials 1.3% 2.0%

Holdings as of 3/28/25

Name DUSA (%) S&P 500 (%)
Capital One Financial 8.95% 0.14%
Berkshire Hathaway 8.27% 2.04%
Meta Platforms 8.19% 2.67%
CVS Health 5.62% 0.18%
U.S. Bancorp 5.53% 0.14%
Amazon.com 5.33% 3.84%
MGM Resorts 5.22% 0.01%
Markel Group 4.90% 0.00%
Applied Materials 4.42% 0.25%
Alphabet 3.42% 3.46%
Name Ticker DUSA (%) S&P 500 (%) Shares Market Value ($) CUSIP SEDOL
Capital One Financial Corp. COF 8.95 0.14 330,223 57,303,597 14040H105 2654461
Berkshire Hathaway Inc., Class B BRK B 8.27 2.04 100,584 52,938,365 084670702 2073390
Meta Platforms, Inc., Class A META 8.19 2.67 90,955 52,457,387 30303M102 B7TL820
CVS Health Corporation CVS 5.62 0.18 535,390 35,946,085 126650100 2577609
U.S. Bancorp USB 5.53 0.14 837,020 35,372,465 902973304 2736035
Amazon.com, Inc. AMZN 5.33 3.84 176,913 34,094,673 023135106 2000019
MGM Resorts International MGM 5.22 0.01 1,101,622 33,445,244 552953101 2547419
Markel Group Inc. MKL 4.90 0.00 16,915 31,384,768 570535104 2566436
Applied Materials, Inc. AMAT 4.42 0.25 195,214 28,317,743 038222105 2046552
Alphabet Inc., Class C GOOG 3.42 1.56 140,182 21,876,803 02079K107 BYY88Y7
Wells Fargo & Co. WFC 3.22 0.49 291,163 20,582,312 949746101 2649100
The Cigna Group CI 2.99 0.19 58,970 19,167,609 125523100 BHJ0775
Humana Inc. HUM 2.99 0.07 72,331 19,137,336 444859102 2445063
Viatris Inc. VTRS 2.77 0.02 2,039,186 17,700,134 92556V106 BMWS3X9
Quest Diagnostics Inc. DGX 2.62 0.04 100,293 16,782,028 74834L100 2702791
Bank of New York Mellon Corp. BK 2.36 0.13 182,744 15,114,756 064058100 B1Z77F6
Restaurant Brands International, Inc. QSR 2.08 0.00 206,292 13,309,960 76131D103 BTF8CG1
Tyson Foods, Inc., Class A TSN 1.93 0.04 198,529 12,382,254 902494103 2909730
Owens Corning OC 1.93 0.00 86,583 12,349,333 690742101 B1FW7Q2
Tourmaline Oil Corp. TOU CN 1.87 0.00 251,346 11,964,343 B3QJ0H8
ConocoPhillips COP 1.48 0.28 92,389 9,457,862 20825C104 2685717
Solventum Corp. SOLV 1.46 0.02 125,279 9,364,605 83444M101 BMTQB43
Teck Resources Ltd., Class B TECK 1.19 0.00 203,595 7,624,633 878742204 2124533
American Express Co. AXP 0.92 0.31 22,220 5,898,966 025816109 2026082
JPMorgan Chase & Co. JPM 0.89 1.44 23,382 5,678,319 46625H100 2190385
AGCO Corporation AGCO 0.80 0.00 55,010 5,145,085 001084102 2010278
Texas Instruments Inc. TXN 0.76 0.34 27,583 4,863,710 882508104 2885409
Cash Component 7.89 0.00 0 0
Total   100.00 14.20        

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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 2024
Days traded at premium 167
Days traded at discount 85

Fund Details as of 3/28/25

Inception Date 1/11/17
Ticker DUSA
Objective Long-term capital growth and capital preservation
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. 0.59%
Number of Holdings The number of holdings in the Fund excluding cash positions and derivatives such as futures and currency forwards. 27
Number of Holdings in Benchmark Index 503
Investment Manager Davis Selected Advisers, L.P.
Total Net Assets ($M) 640.121
Exchange Cboe Global Markets, Inc.
CUSIP 23908L207
Custodian State Street Bank and Trust Company
Benchmark Index S&P 500
Shares Outstanding 15,225,000
Dividend Frequency Annually
Options Available Yes
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. 63,513
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. 42,847
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. 0.21%
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. -0.08%
Active Share (as of 2/28/25) Active Share is a measure of the percentage of stock holdings in a manager's portfolio that differ from the benchmark index. 84%

52 Week High/Low as of 3/28/25

NAV Market Price
52 Week High 46.08 46.24
52 Week Low 37.61 37.22