DFNL
Davis Select Financial ETF
The Davis Select Financial ETF is an actively managed portfolio of global financial sector stocks. The fund seeks long-term growth of capital.
US
EQUITY
Active
MANAGEMENT STYLE
$ 456.8 M
ASSETS UNDER MGMT
63 bp
EXPENSES
Fund Basics
| Inception date | Jan 11, 2017 |
| Regulation | Open-Ended Fund |
| Fund Website | link... |
| Distributions | Annually |
| Currency | USD |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| CAPITAL ONE FINANCIAL CORP | 9.8 % |
| US BANCORP | 5.7 % |
| BERKSHIRE HATHAWAY INC-CL B | 5.5 % |
| FIFTH THIRD BANCORP | 5.4 % |
| PNC FINANCIAL SERVICES GROUP | 4.8 % |
| WELLS FARGO & CO | 4.7 % |
| CHUBB LIMITED | 4.7 % |
| MARKEL CORP | 4.5 % |
| JULIUS BAER GRUPPE AG | 4.5 % |
| JPMORGAN CHASE & CO | 4.4 % |
Constituent Breakdown
| Number of holdings | 31 |
| Herfindahl-Hirschman Index | 433 |
| Wgt avg mkt cap (mns) | $191,283 |
| Large cap (>$10bn) | 92.4% |
| Mid cap ($2-10bn) | 4.2% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 96.9% |
| Emerging mkts. | 0.8% |
Sector Breakdown
Country Exposure
 |
UNITED STATES | 68.5 % |
 |
SWITZERLAND | 9.1 % |
 |
BERMUDA | 7.4 % |
 |
NETHERLANDS | 4.5 % |
 |
SINGAPORE | 2.8 % |
 |
DENMARK | 2.5 % |
 |
NORWAY | 2.0 % |
 |
CHINA | 0.8 % |
Historical Performance
Standardized Performance (as of 05/31/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -4.4% | 13.5% | 17.0% | 22.2% | 8.3% | -- | -- | 9.3% |
| Dividend Yield | 0.0% | 1.5% | 2.1% | 2.4% | 2.5% | -- | -- | 2.3% |
| Total Returns | -4.4% | 15.1% | 19.0% | 24.6% | 10.8% | -- | -- | 11.6% | Ann. Volatility | 16.5% | 14.6% | 18.1% | 17.1% | 19.3% | -- | -- | 22.6% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.83 | 45% |
| MSCI EAFE | 0.60 | 39% |
| MSCI Emg Mkts | 0.33 | 20% |
Liquidity Measures
| Avg. volume (000) | 29 |
| ADV traded (mns) | $1 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.26% |
Technical Indicators
| 30d moving avg. (EMA) | $46.41 |
| Relative strength (RSI) | 48 |
| MACD/Signal | -0.10/-0.10 |
| Bollinger Bands (Upper/Lower) | $47.14/$45.48 |
| Short interest (% of AUM) | 0.1% |
Distributions
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. DFNL |
Expenses vs. DFNL |
ALTAR Score™ vs. DFNL |
|---|---|---|---|---|
| KBWB | Invesco KBW Bank ETF | 35.7% | -28 bp | -1.3% |
| XLF | Financial Select Sector SPDR | 29.1% | -55 bp | -2.0% |
| IYG | iShares US Financial Services ETF | 28.4% | -23 bp | -2.6% |
| FNCL | Fidelity MSCI Financials Index ETF | 28.1% | -55 bp | -1.5% |
| VFH | Vanguard Financials ETF | 28.0% | -54 bp | -1.5% |
| IYF | iShares U.S. Financials ETF | 27.8% | -23 bp | -2.0% |
| FTXO | First Trust Nasdaq Bank ETF | 26.4% | -3 bp | -0.3% |
| LVDS | JPMorgan Fundamental Data Science Large Value ETF | 25.8% | -14 bp | -3.1% |
| DUSA | Davis Select U.S. Equity ETF | 24.1% | -2 bp | -1.5% |
| RSPF | Invesco S&P 500 Equal Weight Financials ETF | 23.8% | -23 bp | -1.1% |
Risk and Returns: DFNL vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Book value per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 6/3/2026
Peer Group Comparison
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Historical Valuation Trends Sample data. Subscribe for access.
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
8.6%
ALTAR SCORE™
94th
PERCENTILE
SPECULATIVE
ETFRC RATING
There are 1,399 funds in the US Equity category with an average
ALTAR Score™ of 5.3% and a standard deviation
of 2.1%. DFNL's ALTAR Score™ is approximately 1.6 standard
deviations above the category average. This places DFNL in the 94th percentile
among funds in the category.
Sell-Side Consensus
$55.85
PRICE TARGET
+20.7%
UPSIDE