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.

Returns

  YTD 1 Yr 3 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 15.13% -0.61% -- 8.00%
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. 15.36% -0.63% -- 8.02%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 19.60% 3.92% -- 8.69%
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. 15.13% -1.42% -- 7.54%
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. 8.95% -0.06% -- 6.06%

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. 9.10% -6.81% -- 6.08%
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. 9.24% -6.86% -- 6.07%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 14.30% -2.90% -- 7.12%
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. 9.10% -7.57% -- 5.61%
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. 5.39% -3.71% -- 4.57%

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. 14.70% -0.96% -- 8.39%
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. 14.97% -1.02% -- 8.43%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 20.12% 3.46% -- 9.47%
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. 14.70% -1.76% -- 7.89%
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. 8.70% -0.27% -- 6.35%

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. 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. 12.64% 1.62% -- 7.90%
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. 12.86% 1.56% -- 7.92%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 17.24% 6.31% -- 8.74%
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. 12.64% 0.80% -- 7.38%
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. 7.48% 1.28% -- 5.96%

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. -3.92% -- 5.93%
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. -4.07% -- 5.96%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -2.31% -- 6.11%
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. -4.70% -- 5.41%
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. -1.98% -- 4.45%

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. 2.80% -- 9.62%
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. 2.68% -- 9.62%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 4.29% -- 9.85%
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. 1.96% -- 9.06%
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. 1.96% -- 7.27%

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. 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. 7.08% -4.50% -- 6.36%
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. 7.18% -4.78% -- 6.34%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 8.56% -4.67% -- 6.03%
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. 7.08% -5.28% -- 5.80%
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. 4.19% -2.32% -- 4.77%

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. -5.76% -- 7.53%
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. -5.86% -- 7.52%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -6.34% -- 7.60%
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. -6.52% -- 6.94%
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. -3.08% -- 5.66%

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. -10.26% -- 6.73%
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. -10.33% -- 6.77%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -11.10% -- 6.65%
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. -10.99% -- 6.12%
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. -5.75% -- 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.

  1 Yr 3 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. -10.80% -- 3.53%
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. -11.12% -- 3.45%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -13.03% -- 2.44%
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. -11.52% -- 2.92%
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. -6.02% -- 2.61%

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. 0.81% -- 9.43%
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. 0.78% -- 9.50%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -0.06% -- 9.28%
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. 0.45% -- 9.22%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 0.57% -- 7.19%

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. 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. 0.18% -- 8.43%
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. 0.00% -- 8.46%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 0.63% -- 8.05%
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. -0.18% -- 8.21%
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. 0.21% -- 6.41%

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. 10.52% -- 13.36%
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. 10.36% -- 13.40%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 8.73% -- 11.57%
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. 10.13% -- 13.12%
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. 6.32% -- 10.21%

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. 15.26% -- 14.82%
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. 15.01% -- 14.84%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 16.92% -- 13.74%
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. 14.86% -- 14.57%
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. 9.12% -- 11.33%

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.

  1 Yr 3 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 11.99% -- 14.88%
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. 11.96% -- 15.00%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 13.47% -- 13.53%
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. 11.59% -- 14.62%
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. 7.19% -- 11.36%

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. 10.61% -- 12.40%
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. 10.53% -- 12.48%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 9.65% -- 10.43%
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. 10.21% -- 12.12%
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. 6.38% -- 9.43%

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. 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. 15.10% -- 13.67%
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. 15.22% -- 13.86%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 18.97% -- 12.65%
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. 14.69% -- 13.38%
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. 9.05% -- 10.40%

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. 16.12% -- 15.18%
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. 16.10% -- 15.29%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 18.60% -- 14.33%
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. 15.71% -- 14.86%
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. 9.65% -- 11.54%

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. 16.56% -- 16.22%
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. 16.63% -- 16.44%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 18.04% -- 15.72%
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. 16.15% -- 15.88%
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. 9.91% -- 12.31%

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. 18.27% -- 20.83%
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. 18.11% -- 20.93%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 19.94% -- 21.64%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 17.85% -- 20.45%
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. 10.91% -- 15.81%

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. 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. 27.60% -- 25.80%
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. 27.52% -- 25.98%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 29.79% -- 26.76%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 27.14% -- 25.37%
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. 16.43% -- 19.55%

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. -- -- 20.04%
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. -- -- 20.29%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -- -- 20.58%
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. -- -- 19.61%
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. -- -- 11.48%

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.

  1 Yr 3 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. -- -- 17.56%
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. -- -- 17.74%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -- -- 18.27%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. -- -- 17.56%
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. -- -- 9.94%

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. 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. -- -- 15.50%
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. -- -- 15.77%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -- -- 14.26%
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. -- -- 15.50%
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. -- -- 8.77%

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. -- -- 12.23%
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. -- -- 12.47%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -- -- 11.01%
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. -- -- 12.23%
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. -- -- 6.92%

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. 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. -- -- 8.76%
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. -- -- 9.03%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -- -- 5.57%
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. -- -- 8.76%
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. -- -- 4.96%

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. -- -- 10.72%
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. -- -- 10.92%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -- -- 7.30%
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. -- -- 10.72%
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. -- -- 6.07%

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. -- -- 7.30%
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. -- -- 7.49%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -- -- 5.48%
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. -- -- 7.30%
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. -- -- 4.13%

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. -- -- 3.73%
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. -- -- 3.86%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -- -- -0.89%
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. -- -- 3.73%
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. -- -- 2.11%

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. -- -- 3.46%
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. -- -- 3.61%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -- -- 0.33%
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. -- -- 3.46%
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. -- -- 1.96%

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. -- -- 3.00%
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. -- -- 3.19%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -- -- 1.18%
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. -- -- 3.00%
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. -- -- 1.70%

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. -- -- 4.74%
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. -- -- 4.98%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -- -- 4.07%
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. -- -- 4.74%
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. -- -- 2.68%

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.

  1 Yr 3 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. -- -- -0.16%
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. -- -- 0.06%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -- -- -1.08%
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. -- -- -0.16%
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. -- -- -0.09%

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. 15.13% -0.61% -- 23.28%
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. 15.36% -0.63% -- 23.33%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 19.60% 3.92% -- 25.43%
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. 15.13% -1.42% -- 21.84%
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. 8.95% -0.06% -- 17.34%

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. 9.10% -6.81% -- 16.82%
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. 9.24% -6.86% -- 16.80%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 14.30% -2.90% -- 19.86%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 9.10% -7.57% -- 15.46%
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. 5.39% -3.71% -- 12.51%

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 Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 14.70% -0.96% -- 22.81%
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. 14.97% -1.02% -- 22.92%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 20.12% 3.46% -- 25.97%
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. 14.70% -1.76% -- 21.38%
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. 8.70% -0.27% -- 17.00%

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. NAV and market price returns assume that all distributions were reinvested at NAV. Current performance may be lower or higher than the performance quoted. Since 1/11/17 Inception. 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. 12.64% 1.62% -- 20.61%
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. 12.86% 1.56% -- 20.66%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 17.24% 6.31% -- 22.95%
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. 12.64% 0.80% -- 19.20%
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. 7.48% 1.28% -- 15.34%

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. -3.92% -- 14.71%
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. -4.07% -- 14.80%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -2.31% -- 15.20%
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. -4.70% -- 13.38%
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. -1.98% -- 10.93%

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. 2.80% -- 23.50%
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. 2.68% -- 23.52%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 4.29% -- 24.10%
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. 1.96% -- 22.06%
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. 1.96% -- 17.51%

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 Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 7.08% -4.50% -- 14.66%
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. 7.18% -4.78% -- 14.59%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 8.56% -4.67% -- 13.85%
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. 7.08% -5.28% -- 13.32%
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. 4.19% -2.32% -- 10.88%

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. -5.76% -- 16.75%
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. -5.86% -- 16.72%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -6.34% -- 16.90%
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. -6.52% -- 15.38%
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. -3.08% -- 12.45%

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. -10.26% -- 14.32%
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. -10.33% -- 14.41%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -11.10% -- 14.14%
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. -10.99% -- 12.98%
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. -5.75% -- 10.63%

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. -10.80% -- 7.08%
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. -11.12% -- 6.92%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -13.03% -- 4.87%
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. -11.52% -- 5.83%
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. -6.02% -- 5.21%

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. 0.81% -- 18.51%
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. 0.78% -- 18.66%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -0.06% -- 18.20%
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. 0.45% -- 18.09%
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. 0.57% -- 13.99%

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. 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. 0.18% -- 15.70%
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. 0.00% -- 15.77%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 0.63% -- 14.98%
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. -0.18% -- 15.29%
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. 0.21% -- 11.86%

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. 10.52% -- 24.03%
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. 10.36% -- 24.12%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 8.73% -- 20.69%
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. 10.13% -- 23.59%
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. 6.32% -- 18.18%

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. 15.26% -- 25.36%
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. 15.01% -- 25.40%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 16.92% -- 23.44%
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. 14.86% -- 24.91%
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. 9.12% -- 19.19%

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. 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. 11.99% -- 24.00%
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. 11.96% -- 24.19%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 13.47% -- 21.75%
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. 11.59% -- 23.56%
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. 7.19% -- 18.16%

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. 10.61% -- 18.68%
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. 10.53% -- 18.81%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 9.65% -- 15.66%
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. 10.21% -- 18.26%
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. 6.38% -- 14.13%

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. 15.10% -- 19.39%
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. 15.22% -- 19.67%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 18.97% -- 17.92%
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. 14.69% -- 18.97%
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. 9.05% -- 14.66%

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. 16.12% -- 20.14%
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. 16.10% -- 20.29%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 18.60% -- 18.99%
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. 15.71% -- 19.72%
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. 9.65% -- 15.23%

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. 16.56% -- 20.06%
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. 16.63% -- 20.35%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 18.04% -- 19.43%
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. 16.15% -- 19.63%
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. 9.91% -- 15.17%

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. 18.27% -- 23.87%
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. 18.11% -- 23.99%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 19.94% -- 24.82%
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. 17.85% -- 23.44%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 10.91% -- 18.06%

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. 27.60% -- 27.39%
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. 27.52% -- 27.59%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. 29.79% -- 28.39%
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. 27.14% -- 26.94%
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. 16.43% -- 20.73%

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. -- -- 20.04%
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. -- -- 20.29%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -- -- 20.58%
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. -- -- 19.61%
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. -- -- 11.48%

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. 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. -- -- 17.56%
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. -- -- 17.74%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -- -- 18.27%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. -- -- 17.56%
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. -- -- 9.94%

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.

  1 Yr 3 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. -- -- 15.50%
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. -- -- 15.77%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -- -- 14.26%
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. -- -- 15.50%
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. -- -- 8.77%

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. -- -- 12.23%
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. -- -- 12.47%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -- -- 11.01%
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. -- -- 12.23%
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. -- -- 6.92%

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. 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. -- -- 8.76%
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. -- -- 9.03%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -- -- 5.57%
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. -- -- 8.76%
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. -- -- 4.96%

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. -- -- 10.72%
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. -- -- 10.92%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -- -- 7.30%
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. -- -- 10.72%
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. -- -- 6.07%

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. -- -- 7.30%
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. -- -- 7.49%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -- -- 5.48%
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. -- -- 7.30%
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. -- -- 4.13%

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. -- -- 3.73%
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. -- -- 3.86%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -- -- -0.89%
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. -- -- 3.73%
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. -- -- 2.11%

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. -- -- 3.46%
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. -- -- 3.61%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -- -- 0.33%
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. -- -- 3.46%
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. -- -- 1.96%

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. -- -- 3.00%
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. -- -- 3.19%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -- -- 1.18%
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. -- -- 3.00%
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. -- -- 1.70%

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. -- -- 4.74%
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. -- -- 4.98%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -- -- 4.07%
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. -- -- 4.74%
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. -- -- 2.68%

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. 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. -- -- -0.16%
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. -- -- 0.06%
S&P 500 Financials The S&P 500 Financials is a capitalization-weighted index that tracks the companies in the financial sector as a subset of the S&P 500® Index. Investments cannot be made directly in an index. -- -- -1.08%
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. -- -- -0.16%
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. -- -- -0.09%

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 10/11/19

Prices

Top Industries as of 10/11/19 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.

Name DFNL (%) S&P 500 Financials (%)
Diversified Financials 39.3% 39.0%
Banks 38.4% 42.2%
Insurance 19.0% 18.8%
Communication Services 3.3% 0.0%

Holdings as of 10/11/19

Name DFNL (%) S&P 500 Financials (%)
U.S. Bancorp 8.11% 2.43%
Berkshire Hathaway 7.90% 12.94%
Capital One Financial 7.77% 1.32%
Markel 5.78% 0.00%
American Express 5.70% 2.51%
JPMorgan Chase & Co. 5.47% 11.77%
Wells Fargo & Co. 5.37% 6.26%
Bank of New York Mellon 4.67% 1.20%
Bank of America 4.66% 7.68%
PNC Financial Services Group 4.28% 1.98%
Name Ticker DFNL (%) S&P 500 Financials (%) Shares Market Value ($) CUSIP SEDOL
U.S. Bancorp USB 8.11 2.43 210,688 11,265,487 902973304 2736035
Berkshire Hathaway Inc., Class B BRK B 7.90 12.94 52,738 10,973,723 084670702 2073390
Capital One Financial Corp. COF 7.77 1.32 121,494 10,791,097 14040H105 2654461
Markel Corp. MKL 5.78 0.00 7,013 8,029,745 570535104 2566436
American Express Co. AXP 5.70 2.51 67,991 7,914,152 025816109 2026082
JPMorgan Chase & Co. JPM 5.47 11.77 65,391 7,594,511 46625H100 2190385
Wells Fargo & Co. WFC 5.37 6.26 151,668 7,463,582 949746101 2649100
Bank of New York Mellon Corp. BK 4.67 1.20 146,861 6,479,507 064058100 B1Z77F6
Bank of America Corp. BAC 4.66 7.68 223,968 6,474,915 060505104 2295677
PNC Financial Services Group, Inc. PNC 4.28 1.98 42,335 5,943,834 693475105 2692665
DNB ASA DNB NO 3.99 0.00 315,030 5,537,269 4263304
Chubb Ltd. CB 3.93 2.24 35,165 5,454,092 H1467J104 B3BQMF6
Julius Baer Group Ltd. BAER SE 3.42 0.00 107,846 4,748,663 B4R2R50
Alphabet Inc., Class C GOOG 3.26 0.00 3,722 4,523,905 02079K107 BYY88Y7
DBS Group Holdings Ltd. DBS SP 3.02 0.00 230,532 4,189,246 6175203
Goldman Sachs Group Inc. GS 2.85 2.10 19,338 3,958,102 38141G104 2407966
Loews Corp. L 2.64 0.42 72,533 3,661,466 540424108 2523022
Alleghany Corporation Y 2.60 0.00 4,675 3,606,716 017175100 2016801
State Street Corp. STT 2.43 0.69 57,428 3,371,024 857477103 2842040
KKR & Co. Inc., Class A KKR 2.29 0.00 121,032 3,183,142 48251W104 BG1FRR1
Bank of N.T. Butterfield & Son Ltd. NTB 2.28 0.00 106,498 3,159,796 G0772R208 BD8FF02
Charles Schwab Corp. SCHW 2.12 1.37 78,962 2,943,703 808513105 2779397
Swiss Re AG SREN SE 1.68 0.00 22,496 2,331,391 B545MG5
Everest Re Group, Ltd. RE 1.65 0.32 9,124 2,285,562 G3223R108 2556868
Greenlight Capital Re, Ltd., Class A GLRE 0.72 0.00 98,626 1,000,561 G4095J109 B1XRCZ3
Metro Bank PLC MTRO LN 0.57 0.00 287,018 788,626 BZ6STL6
Danske Bank A/S DANSKE DC 0.55 0.00 54,908 770,404 4588825
Cash Component 0.29 0.00 0 0
Total   100.00 55.23        

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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 The price used to calculate market return is determined by using the midpoint between the highest bid and the lowest offer on the stock exchange, on which shares of the Fund are listed for trading, as of the time that the Fund's NAV is calculated. to NAV

Days at specific premium or discount ranges
Days at specific premium or discount ranges
Days at specific premium or discount ranges
Days at specific premium or discount ranges
Days at specific premium or discount ranges
Days at specific premium or discount ranges
Days at specific premium or discount ranges
Days at specific premium or discount ranges
Days at specific premium or discount ranges
Days at specific premium or discount ranges

Fund Details as of 10/11/19

Inception Date 1/11/17
Ticker DFNL
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, 2020. 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. 0.64%/0.64%
Number of Holdings The number of holdings in the Fund excluding cash positions and derivatives such as futures and currency forwards. 27
Index Number of Holdings 67
Investment Manager Davis Selected Advisers, L.P.
Total Net Assets($M) 138.866
Exchange NASDAQ
CUSIP 23908L108
IOV / Intraday Ticker DFNLIV
Custodian State Street Bank and Trust Company
Benchmark Index S&P 500 Financials
Shares Outstanding 5,950,000
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. 18,075
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. 16,269
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

Portfolio Statistics as of 10/11/19

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. 12.3
Index Forward P/E 12.5
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. 1.4
Weighted Avg. Market Cap ($bn) Weighted Average Market Capitalization is the portfolio-weighted mean capitalizations of all equity securities. 145.0
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. 9.7
Index Historical 5 Year EPS Growth 14.0

52 Week High/Low as of 10/11/19

NAV Market Price
52 Week High 24.14 24.24
52 Week Low 20.13 19.29