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

  Since Incept. 1 Yr 3 Yr 5 Yr
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 14.82% 15.26% -- --
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. 14.84% 15.01% -- --
S&P 500 Financials Index 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. 13.74% 16.92% -- --
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. 14.57% 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. 11.33% 9.12% -- --

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.

  Since Incept. 1 Yr 3 Yr 5 Yr
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 14.88% 11.99% -- --
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. 15.00% 11.96% -- --
S&P 500 Financials Index 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. 13.53% 13.47% -- --
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. 14.62% 11.59% -- --
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. 11.36% 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.

  Since Incept. 1 Yr 3 Yr 5 Yr
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 12.40% 10.61% -- --
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. 12.48% 10.53% -- --
S&P 500 Financials Index 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. 10.43% 9.65% -- --
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. 12.12% 10.21% -- --
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. 9.43% 6.38% -- --

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.

  Since Incept. 1 Yr 3 Yr 5 Yr
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 13.67% 15.10% -- --
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. 13.86% 15.22% -- --
S&P 500 Financials Index 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. 12.65% 18.97% -- --
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. 13.38% 14.69% -- --
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. 10.40% 9.05% -- --

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.

  Since Incept. 1 Yr 3 Yr 5 Yr
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 15.18% 16.12% -- --
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. 15.29% 16.10% -- --
S&P 500 Financials Index 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. 14.33% 18.60% -- --
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. 14.86% 15.71% -- --
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. 11.54% 9.65% -- --

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

  Since Incept. 1 Yr 3 Yr 5 Yr
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 16.22% 16.56% -- --
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. 16.44% 16.63% -- --
S&P 500 Financials Index 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. 15.72% 18.04% -- --
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. 15.88% 16.15% -- --
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 12.31% 9.91% -- --

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

  Since Incept. 1 Yr 3 Yr 5 Yr
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 20.83% 18.27% -- --
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. 20.93% 18.11% -- --
S&P 500 Financials Index 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. 21.64% 19.94% -- --
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 20.45% 17.85% -- --
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 15.81% 10.91% -- --

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

  Since Incept. 1 Yr 3 Yr 5 Yr
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 25.80% 27.60% -- --
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. 25.98% 27.52% -- --
S&P 500 Financials Index 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. 26.76% 29.79% -- --
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 25.37% 27.14% -- --
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. 19.55% 16.43% -- --

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.

  Since Incept. 1 Yr 3 Yr 5 Yr
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 Index 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.

  Since Incept. 1 Yr 3 Yr 5 Yr
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 Index 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.

  Since Incept. 1 Yr 3 Yr 5 Yr
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 Index 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.

  Since Incept. 1 Yr 3 Yr 5 Yr
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 Index 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.

  Since Incept. 1 Yr 3 Yr 5 Yr
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 Index 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.

  Since Incept. 1 Yr 3 Yr 5 Yr
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 Index 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.

  Since Incept. 1 Yr 3 Yr 5 Yr
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 Index 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.

  Since Incept. 1 Yr 3 Yr 5 Yr
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 Index 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.

  Since Incept. 1 Yr 3 Yr 5 Yr
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 Index 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.

  Since Incept. 1 Yr 3 Yr 5 Yr
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 Index 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.

  Since Incept. 1 Yr 3 Yr 5 Yr
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 Index 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.

  Since Incept. 1 Yr 3 Yr 5 Yr
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 Index 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.

  Since Incept. 1 Yr 3 Yr 5 Yr
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 25.36% 15.26% -- --
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. 25.40% 15.01% -- --
S&P 500 Financials Index 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. 23.44% 16.92% -- --
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. 24.91% 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. 19.19% 9.12% -- --

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.

  Since Incept. 1 Yr 3 Yr 5 Yr
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 24.00% 11.99% -- --
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. 24.19% 11.96% -- --
S&P 500 Financials Index 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. 21.75% 13.47% -- --
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. 23.56% 11.59% -- --
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. 18.16% 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. It is not possible to invest directly in an index.

  Since Incept. 1 Yr 3 Yr 5 Yr
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 18.68% 10.61% -- --
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. 18.81% 10.53% -- --
S&P 500 Financials Index 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. 15.66% 9.65% -- --
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. 18.26% 10.21% -- --
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. 14.13% 6.38% -- --

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.

  Since Incept. 1 Yr 3 Yr 5 Yr
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 19.39% 15.10% -- --
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. 19.67% 15.22% -- --
S&P 500 Financials Index 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. 17.92% 18.97% -- --
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. 18.97% 14.69% -- --
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. 14.66% 9.05% -- --

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.

  Since Incept. 1 Yr 3 Yr 5 Yr
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 20.14% 16.12% -- --
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% 16.10% -- --
S&P 500 Financials Index 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. 18.99% 18.60% -- --
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. 19.72% 15.71% -- --
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. 15.23% 9.65% -- --

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

  Since Incept. 1 Yr 3 Yr 5 Yr
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 20.06% 16.56% -- --
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. 20.35% 16.63% -- --
S&P 500 Financials Index 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. 19.43% 18.04% -- --
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. 19.63% 16.15% -- --
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 15.17% 9.91% -- --

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

  Since Incept. 1 Yr 3 Yr 5 Yr
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 23.87% 18.27% -- --
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. 23.99% 18.11% -- --
S&P 500 Financials Index 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. 24.82% 19.94% -- --
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 23.44% 17.85% -- --
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 18.06% 10.91% -- --

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

  Since Incept. 1 Yr 3 Yr 5 Yr
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 27.39% 27.60% -- --
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. 27.59% 27.52% -- --
S&P 500 Financials Index 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. 28.39% 29.79% -- --
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 26.94% 27.14% -- --
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 20.73% 16.43% -- --

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

  Since Incept. 1 Yr 3 Yr 5 Yr
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 Index 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.

  Since Incept. 1 Yr 3 Yr 5 Yr
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 Index 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.

  Since Incept. 1 Yr 3 Yr 5 Yr
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 Index 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.

  Since Incept. 1 Yr 3 Yr 5 Yr
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 Index 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.

  Since Incept. 1 Yr 3 Yr 5 Yr
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 Index 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.

  Since Incept. 1 Yr 3 Yr 5 Yr
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 Index 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.

  Since Incept. 1 Yr 3 Yr 5 Yr
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 Index 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.

  Since Incept. 1 Yr 3 Yr 5 Yr
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 Index 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.

  Since Incept. 1 Yr 3 Yr 5 Yr
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 Index 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.

  Since Incept. 1 Yr 3 Yr 5 Yr
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 Index 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.

  Since Incept. 1 Yr 3 Yr 5 Yr
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 Index 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.

  Since Incept. 1 Yr 3 Yr 5 Yr
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 Index 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 9/21/18

Prices

Top Industries as of 9/21/18 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 Index (%)
Diversified Financials 43.6% 38.6%
Banks 29.3% 44.2%
Insurance 23.7% 17.1%
Information Technology 3.4% 0.0%

Holdings as of 9/21/18

Name Ticker Weighting (%)
Berkshire Hathaway Inc., Class B BRK B 6.83%
U.S. Bancorp USB 6.81%
American Express Co. AXP 6.58%
Capital One Financial Corp. COF 6.48%
Markel Corp. MKL 5.65%
JPMorgan Chase & Co. JPM 4.60%
Wells Fargo & Co. WFC 4.29%
Bank of New York Mellon Corp. BK 4.25%
Chubb Ltd. CB 4.07%
DNB ASA DNB NO 4.03%
Name Ticker Weighting (%) Shares Market Value ($) CUSIP SEDOL
Berkshire Hathaway Inc., Class B BRK B 6.83 48,424 10,678,460 084670702 2073390
U.S. Bancorp USB 6.81 193,068 10,645,770 902973304 2736035
American Express Co. AXP 6.58 92,746 10,285,531 025816109 2026082
Capital One Financial Corp. COF 6.48 102,308 10,129,515 14040H105 2654461
Markel Corp. MKL 5.65 7,260 8,829,249 570535104 2566436
JPMorgan Chase & Co. JPM 4.60 60,989 7,187,554 46625H100 2190385
Wells Fargo & Co. WFC 4.29 122,029 6,710,375 949746101 2649100
Bank of New York Mellon Corp. BK 4.25 124,490 6,646,521 064058100 B1Z77F6
Chubb Ltd. CB 4.07 45,465 6,358,735 H1467J104 B3BQMF6
DNB ASA DNB NO 4.03 299,140 6,299,770 4263304
Loews Corp. L 3.80 114,764 5,940,185 540424108 2523022
KKR & Co. Inc., Class A KKR 3.70 204,796 5,785,487 48251W104 BG1FRR1
Alphabet Inc., Class C GOOG 3.40 4,555 5,311,540 02079K107 BYY88Y7
State Street Corp. STT 3.38 59,457 5,277,998 857477103 2842040
Everest Re Group, Ltd. RE 3.14 21,053 4,908,086 G3223R108 2556868
Bank of N.T. Butterfield & Son Ltd. NTB 3.04 92,405 4,757,933 G0772R208 BD8FF02
Goldman Sachs Group Inc. GS 3.02 20,021 4,711,742 38141G104 2407966
DBS Group Holdings Ltd. DBS SP 2.91 238,532 4,551,377 6175203
Alleghany Corporation Y 2.80 6,744 4,382,588 017175100 2016801
Julius Baer Group Ltd. BAER SE 2.68 78,678 4,188,064 B4R2R50
PNC Financial Services Group, Inc. PNC 2.59 28,083 4,044,233 693475105 2692665
Visa Inc., Class A V 2.12 22,065 3,310,853 92826C839 B2PZN04
Oaktree Cap Group LLC Class A Units OAK 1.93 72,164 3,012,847 674001201 B4Q9912
Swiss Re AG SREN SE 1.83 30,516 2,861,124 B545MG5
Marsh & McLennan Cos MMC 1.50 27,268 2,343,412 571748102 2567741
Charles Schwab Corp. SCHW 1.47 44,453 2,304,444 808513105 2779397
The Blackstone Group L.P. BX 1.12 44,320 1,750,197 09253U108 B1YWNW1
Danske Bank A/S DANSKE DC 0.96 56,300 1,507,854 4588825
Greenlight Capital Re, Ltd., Class A GLRE 0.83 102,110 1,291,692 G4095J109 B1XRCZ3
Cash Component 0.19 0 0
Total   100.00        

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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

Fund Details as of 9/21/18

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, 2019. 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. 0.76%/0.65%
Number of Holdings The number of holdings in the Fund excluding cash positions and derivatives such as futures and currency forwards. 29
Investment Manager Davis Selected Advisers, L.P.
Total Net Assets($M) 156.255
Asset Class Equity
Exchange NASDAQ
CUSIP 23908L108
IOV / Intraday Ticker DFNLIV
Custodian State Street Bank and Trust Company
Performance Benchmark S&P 500 Financials Index
Shares Outstanding 6,150,000
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. 5,351
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. 13,084
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. 0.15

Portfolio Statistics as of 6/30/18

Number of Holdings The number of holdings in the Fund excluding cash positions and derivatives such as futures and currency forwards. 29
Forward P/E Forward price to earnings (forward P/E) is a measure of the price-to-earnings (P/E) ratio using forecasted earnings for the P/E calculation. 13.3
P/B Price/Book (P/B) Ratio is the weighted average of the P/B ratios of the stocks in a portfolio. The P/B ratio of a stock is calculated by dividing the current price of the stock by the company's per share book value. 1.8
Weighted Avg. Market Cap ($bn) Weighted Average Market Capitalization is the portfolio-weighted mean capitalizations of all equity securities. 124.3
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. 5.0

52 Week High/Low as of 9/21/18

NAV Market Price
52 Week High 25.51 25.62
52 Week Low 22.19 22.20