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.

Returns

  Since Incept. 1 Yr 3 Yr 5 Yr
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 9.70% -- -- --
Market Price Represents changes to the midpoint price and accounts for distributions from the Fund. The midpoint is the average of the bid-ask prices at 4:00 ET when NAV is determined. 9.83% -- -- --
MSCI ACWI Index 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. 9.11% -- -- --
After Tax Pre-Liquidation 9.70% -- -- --
After Tax Post-Liquidation 5.49% -- -- --

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. 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.

  Since Incept. 1 Yr 3 Yr 5 Yr
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 6.58% -- -- --
Market Price Represents changes to the midpoint price and accounts for distributions from the Fund. The midpoint is the average of the bid-ask prices at 4:00 ET when NAV is determined. 6.78% -- -- --
MSCI ACWI Index 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. 6.75% -- -- --
After Tax Pre-Liquidation 6.58% -- -- --
After Tax Post-Liquidation 3.72% -- -- --

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. 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.

  Since Incept. 1 Yr 3 Yr 5 Yr
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 4.28% -- -- --
Market Price Represents changes to the midpoint price and accounts for distributions from the Fund. The midpoint is the average of the bid-ask prices at 4:00 ET when NAV is determined. 4.74% -- -- --
MSCI ACWI Index 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. 5.12% -- -- --
After Tax Pre-Liquidation 4.28% -- -- --
After Tax Post-Liquidation 2.42% -- -- --

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. 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.

  Since Incept. 1 Yr 3 Yr 5 Yr
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 1.63% -- -- --
Market Price Represents changes to the midpoint price and accounts for distributions from the Fund. The midpoint is the average of the bid-ask prices at 4:00 ET when NAV is determined. 1.89% -- -- --
MSCI ACWI Index 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. 3.85% -- -- --
After Tax Pre-Liquidation 1.63% -- -- --
After Tax Post-Liquidation 0.92% -- -- --

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. 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.

  Since Incept. 1 Yr 3 Yr 5 Yr
Total Return Represents changes to the NAV and accounts for distributions from the Fund. -0.34% -- -- --
Market Price Represents changes to the midpoint price and accounts for distributions from the Fund. The midpoint is the average of the bid-ask prices at 4:00 ET when NAV is determined. -0.07% -- -- --
MSCI ACWI Index 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. 1.01% -- -- --
After Tax Pre-Liquidation -0.34% -- -- --
After Tax Post-Liquidation -0.19% -- -- --

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. 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.

  Since Incept. 1 Yr 3 Yr 5 Yr
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 9.70% -- -- --
Market Price Represents changes to the midpoint price and accounts for distributions from the Fund. The midpoint is the average of the bid-ask prices at 4:00 ET when NAV is determined. 9.83% -- -- --
MSCI ACWI Index 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. 9.11% -- -- --
After Tax Pre-Liquidation 9.70% -- -- --
After Tax Post-Liquidation 5.49% -- -- --

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. 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.

  Since Incept. 1 Yr 3 Yr 5 Yr
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 6.58% -- -- --
Market Price Represents changes to the midpoint price and accounts for distributions from the Fund. The midpoint is the average of the bid-ask prices at 4:00 ET when NAV is determined. 6.78% -- -- --
MSCI ACWI Index 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. 6.75% -- -- --
After Tax Pre-Liquidation 6.58% -- -- --
After Tax Post-Liquidation 3.72% -- -- --

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. 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.

  Since Incept. 1 Yr 3 Yr 5 Yr
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 4.28% -- -- --
Market Price Represents changes to the midpoint price and accounts for distributions from the Fund. The midpoint is the average of the bid-ask prices at 4:00 ET when NAV is determined. 4.74% -- -- --
MSCI ACWI Index 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. 5.12% -- -- --
After Tax Pre-Liquidation 4.28% -- -- --
After Tax Post-Liquidation 2.42% -- -- --

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. 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.

  Since Incept. 1 Yr 3 Yr 5 Yr
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 1.63% -- -- --
Market Price Represents changes to the midpoint price and accounts for distributions from the Fund. The midpoint is the average of the bid-ask prices at 4:00 ET when NAV is determined. 1.89% -- -- --
MSCI ACWI Index 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. 3.85% -- -- --
After Tax Pre-Liquidation 1.63% -- -- --
After Tax Post-Liquidation 0.92% -- -- --

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. 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.

  Since Incept. 1 Yr 3 Yr 5 Yr
Total Return Represents changes to the NAV and accounts for distributions from the Fund. -0.34% -- -- --
Market Price Represents changes to the midpoint price and accounts for distributions from the Fund. The midpoint is the average of the bid-ask prices at 4:00 ET when NAV is determined. -0.07% -- -- --
MSCI ACWI Index 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. 1.01% -- -- --
After Tax Pre-Liquidation -0.34% -- -- --
After Tax Post-Liquidation -0.19% -- -- --

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. 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 6/23/17

Prices

Regions as of 6/22/17

DWLD (%) MSCI ACWI Index (%)
United States 54.1% 49.6%
Emerging Markets 35.6% 11.6%
Developed Markets (ex-US) 10.3% 38.7%

Top Sectors as of 6/22/17 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. Industry classification weightings are subject to change.

DWLD (%) MSCI ACWI Index (%)
Consumer Discretionary 30.1% 11.5%
Information Technology 20.7% 17.9%
Financials 17.8% 17.1%
Industrials 10.5% 10.9%
Energy 10.1% 6.9%
Materials 5.9% 4.6%
Health Care 3.9% 10.6%
ETF Cash Component 1.0% 0.0%

Holdings as of 6/22/17

Name Ticker Weighting (%) Country
Alphabet Inc GOOG 7.01% United States
Naspers Ltd NPN 5.02% South Africa
Amazon.com Inc AMZN 4.98% United States
Wells Fargo & Co WFC 4.39% United States
JD.com Inc JD 4.31% China
Berkshire Hathaway Inc BRK.B 4.15% United States
Alibaba Group Holding Ltd BABA 4.13% China
Adient PLC ADNT 4.05% United States
Apache Corp APA 3.88% United States
JPMorgan Chase & Co JPM 3.58% United States
Name Ticker Weighting (%) Shares Market Value ($) Country CUSIP SEDOL
Alphabet Inc GOOG 7.01 3,564 3,411,068.76 United States 02079K107 BYY88Y7
Naspers Ltd NPN 5.02 12,320 2,442,912.56 South Africa 6622691
Amazon.com Inc AMZN 4.98 2,420 2,423,146.00 United States 023135106 2000019
Wells Fargo & Co WFC 4.39 40,744 2,138,652.56 United States 949746101 2649100
JD.com Inc JD 4.31 50,732 2,096,753.56 China 47215P106 BMM27D9
Berkshire Hathaway Inc BRK.B 4.15 12,012 2,021,859.84 United States 084670702 2073390
Alibaba Group Holding Ltd BABA 4.13 14,124 2,009,421.48 China 01609W102 BP41ZD1
Adient PLC ADNT 4.05 30,756 1,971,152.04 United States G0084W101 BD845X2
Apache Corp APA 3.88 41,448 1,891,272.24 United States 037411105 2043962
JPMorgan Chase & Co JPM 3.58 20,020 1,742,140.40 United States 46625H100 2190385
Encana Corp ECA 3.11 183,744 1,514,050.56 Canada 292505104 2793182
United Technologies Corp UTX 3.08 12,276 1,499,758.92 United States 913017109 2915500
Sul America SA SULA11 3.01 279,620 1,466,927.44 Brazil B27WYK0
New Oriental Education & Technology Group Inc EDU 2.91 19,492 1,416,093.80 China 647581107 B1CN1G6
Axalta Coating Systems Ltd AXTA 2.90 43,604 1,410,589.40 United States G0750C108 BSFWCF5
Aetna Inc AET 2.71 8,624 1,319,299.52 United States 00817Y108 2695921
Safran SA SAF 2.63 14,036 1,282,061.00 France B058TZ6
Hollysys Automation Technologies Ltd HOLI 2.63 75,064 1,278,339.92 China G45667105 B0JCH50
Fang Holdings Ltd SFUN 2.35 356,620 1,144,750.20 China 30711Y102 BYQ7J61
ZTO Express (Cayman) Inc ZTO 2.30 78,364 1,117,470.64 China 98980A105 BYYDFN0
Vipshop Holdings Ltd VIPS 2.20 91,388 1,069,239.60 China 92763W103 B3N0H17
TAL Education Group TAL 2.17 8,888 1,057,672.00 China 874080104 B4MGD82
Lafargeholcim Ltd LHN 2.17 18,524 1,056,053.68 Switzerland BZ3DNX4
Carmax Inc KMX 2.15 16,764 1,047,750.00 United States 143130102 2983563
Angie's List Inc ANGI 1.90 74,140 926,750.00 United States 034754101 B5B33P8
Facebook Inc FB 1.79 5,676 870,698.40 United States 30303M102 B7TL820
Noah Holdings Ltd NOAH 1.61 29,524 785,338.40 China 65487X102 B5MDP39
Cabot Oil & Gas Corp COG 1.59 33,792 772,485.12 United States 127097103 2162340
Paramount Resources Ltd POU 1.57 53,196 763,044.04 Canada 699320206 B073FP1
FedEx Corp FDX 1.55 3,564 754,249.32 United States 31428X106 2142784
Capital One Financial Corp COF 1.23 7,436 597,780.04 United States 14040H105 2654461
Delphi Automotive PLC DLPH 1.21 6,864 588,588.00 United States G27823106 B783TY6
Diplomat Pharmacy Inc DPLO 1.19 31,020 577,282.20 United States 25456K101 BRB38H9
Grupo Televisa SAB TV 1.10 22,396 537,280.04 Mexico 40049J206 2399450
CAR Inc 699 0.98 528,000 475,303.40 China BQQP9S1
Baidu Inc BIDU 0.91 2,464 441,869.12 China 056752108 B0FXT17
Akzo Nobel NV AKZA 0.83 4,664 403,496.28 Netherlands 5458314
Cash Component CASH 0.75 - -
Total   100.00          

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Fund Details as of 6/22/17

Inception Date 1/11/17
Ticker DWLD
Objective Long-term growth of capital
Expense Ratio (gross/net) Davis Selected Advisers, L.P. has contractually agreed to waive fees and/or reimburse the Funds’ expenses to the extent necessary to cap total annual fund operating expenses as shown until March 1, 2018. After that date, there is no assurance that the Adviser will continue to cap expenses. The expense cap cannot be terminated prior to that date, without the consent of the Board of Trustees. 0.68%/0.65%
Number of Holdings The number of holdings in the Fund excluding cash positions and derivatives such as futures and currency forwards. 37
Investment Manager Davis Selected Advisers, L.P.
Total Net Assets ($M) 48.694
Asset Class Equity
Exchange NASDAQ
CUSIP 23908L 306
IOV / Intraday Ticker DWLDIV
Custodian State Street Bank and Trust Company
Performance Benchmark MSCI ACWI Index
Shares Outstanding 2,200,000
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. 12,946
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. 20,721
Premium/Discount The amount the Fund is trading above or below the reported NAV expressed as a percentage of the NAV. When the Fund's market price is greater than the Fund's NAV, it is said to be trading at a “Premium” and the percentage is expressed as a positive number. When the Fund's market price is less than the Fund's NAV, it is said to be trading at a “Discount” and the percentage is expressed as a negative number. 0.05

Portfolio Statistics as of 3/31/17

Number of Holdings The number of holdings in the Fund excluding cash positions and derivatives such as futures and currency forwards. 38
Forward P/E 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. 13.3
P/B Price/Book (P/B) Ratio is the weighted average of the P/B ratios of the stocks in a portfolio. The P/B ratio of a stock is calculated by dividing the current price of the stock by the company's per share book value. 3.1
Weighted Avg. Market Cap ($bn) Weighted Average Market Capitalization is the portfolio-weighted mean capitalizations of all equity securities. 135.7
Historical 5 Year EPS Growth 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. 24.4

52 Week High/Low as of 6/22/17

NAV Market Price
52 Week High 22.61 22.73
52 Week Low 20.01 20.00