Davis Select Financial ETF
Name
As of 12/20/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
28.5%
1 yr return
30.6%
3 Yr Avg Return
11.0%
5 Yr Avg Return
10.9%
Net Assets
$249 M
Holdings in Top 10
58.4%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.64%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 10.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 12/20/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
DFNL - Profile
Distributions
- YTD Total Return 28.5%
- 3 Yr Annualized Total Return 11.0%
- 5 Yr Annualized Total Return 10.9%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.40%
- Dividend Yield 1.6%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameDavis Select Financial ETF
-
Fund Family NameDavis ETFs
-
Inception DateJan 11, 2017
-
Shares Outstanding6750000
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerChristopher Davis
Fund Description
The Fund is an actively managed exchange-traded fund (“ETF”). Davis Selected Advisers, L.P. (“Davis Advisors” or the “Adviser”), the Fund’s investment adviser, uses the Davis Investment Discipline to invest, under normal market conditions, at least 80% of the Fund’s net assets plus any borrowings for investment purposes in securities issued by companies principally engaged in the financial services sector. The Fund is non-diversified and, therefore, is allowed to focus its investments in fewer companies than a fund that is required to diversify its portfolio. The Fund’s portfolio generally contains between 15 and 35 companies, although the precise number of its investments will vary over time. The Fund invests, principally, in common stocks (including indirect holdings of common stock through depositary receipts). The Fund may invest in large, medium or small companies without regard to market capitalization and may invest in issuers in foreign countries, including countries with developed or emerging markets. These non-U.S. company investments may include American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs” and together “Depositary Receipts”). Depositary Receipts are receipts that represent ownership of shares of a non-U.S. issuer held in trust by a bank or similar financial institution.
A company is principally engaged in financial services if it owns financial services-related assets that constitute at least 50% of the value of all of its assets, or if it derives at least 50% of its revenues from providing financial services. Companies are classified by GICS based on their principal business activity. Revenue is a key factor in determining a firm’s principal business activity. Companies with their principal business activity in one of the following areas are considered financial services firms: banks, thrifts and mortgage, specialized finance, consumer finance, asset management, custody, investment banking, brokerage, insurance, financial exchanges and data, and mortgage REITs.
Davis Investment Discipline. Davis Advisors manages equity funds using the Davis Investment Discipline. Davis Advisors conducts extensive research to try to identify businesses that possess characteristics that Davis Advisors believes foster the creation of long-term value, such as proven management, a durable franchise and business model, and sustainable competitive advantages. Davis Advisors aims to invest in such businesses when they are trading at discounts to their intrinsic worth. Davis Advisors emphasizes individual stock selection and believes that the ability to evaluate management is critical. Davis Advisors routinely visits managers at their places of business in order to gain insight into the relative value of different businesses. Such research, however rigorous, involves predictions and forecasts that are inherently uncertain. After determining which companies Davis Advisors believes the Fund should own, Davis Advisors then turns its analysis to determining the intrinsic value of those companies’ equity securities. Davis Advisors seeks companies whose equity securities can be purchased at a discount from Davis Advisors’ estimate of the company’s intrinsic value based upon fundamental analysis of cash flows, assets and liabilities, and other criteria that Davis Advisors deems to be material on a company-by-company basis. Davis Advisors’ goal is to invest in companies for the long term (ideally, five years or longer, although this goal may not be met). Davis Advisors considers selling a company’s equity securities if the securities’ market price exceeds Davis Advisors’ estimates of intrinsic value, if the ratio of the risks and rewards of continuing to own the company’s equity securities is no longer attractive, to raise cash to purchase a more attractive investment opportunity, to satisfy net redemptions or for other purposes.
DFNL - Performance
Return Ranking - Trailing
Period | DFNL Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 28.5% | 4.1% | 37.8% | 33.71% |
1 Yr | 30.6% | 3.7% | 40.2% | 31.46% |
3 Yr | 11.0%* | -15.9% | 17.0% | 19.10% |
5 Yr | 10.9%* | -6.6% | 21.1% | 39.33% |
10 Yr | N/A* | -0.5% | 14.8% | 85.53% |
* Annualized
Return Ranking - Calendar
Period | DFNL Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 11.8% | -12.2% | 29.3% | 32.58% |
2022 | -11.4% | -56.2% | 9.4% | 12.36% |
2021 | 28.1% | 1.6% | 54.4% | 43.82% |
2020 | -6.3% | -41.2% | 61.3% | 58.43% |
2019 | 24.3% | 10.5% | 97.3% | 52.81% |
Total Return Ranking - Trailing
Period | DFNL Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 28.5% | 4.1% | 37.8% | 33.71% |
1 Yr | 30.6% | 3.7% | 40.2% | 31.46% |
3 Yr | 11.0%* | -15.9% | 17.0% | 19.10% |
5 Yr | 10.9%* | -6.6% | 21.1% | 39.33% |
10 Yr | N/A* | -0.5% | 14.8% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | DFNL Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 14.4% | -8.5% | 32.0% | 39.33% |
2022 | -8.4% | -56.2% | 11.4% | 14.61% |
2021 | 31.2% | 18.8% | 56.8% | 60.67% |
2020 | -5.0% | -41.2% | 61.3% | 59.55% |
2019 | 27.4% | 15.1% | 101.7% | 56.18% |
DFNL - Holdings
Concentration Analysis
DFNL | Category Low | Category High | DFNL % Rank | |
---|---|---|---|---|
Net Assets | 249 M | 1.54 M | 52.8 B | 53.33% |
Number of Holdings | 30 | 24 | 407 | 85.39% |
Net Assets in Top 10 | 121 M | 657 K | 22.7 B | 52.81% |
Weighting of Top 10 | 58.39% | 12.4% | 76.5% | 15.73% |
Top 10 Holdings
- CAPITAL ONE FINANCIAL CORP 8.81%
- BERKSHIRE HATHAWAY INC CL B 7.00%
- JPMORGAN CHASE + CO 6.28%
- MARKEL CORP 5.57%
- FIFTH THIRD BANCORP COMMON STOCK 5.44%
- CHUBB LTD 5.39%
- WELLS FARGO + CO 5.22%
- BANK OF NEW YORK MELLON CORP 5.16%
- US BANCORP 4.83%
- PNC FINANCIAL SERVICES GROUP 4.69%
Asset Allocation
Weighting | Return Low | Return High | DFNL % Rank | |
---|---|---|---|---|
Stocks | 98.75% | 95.73% | 106.77% | 64.04% |
Other | 1.01% | -0.92% | 1.47% | 2.25% |
Cash | 0.23% | 0.07% | 24.47% | 88.76% |
Preferred Stocks | 0.00% | 0.00% | 3.05% | 89.89% |
Convertible Bonds | 0.00% | 0.00% | 0.00% | 87.64% |
Bonds | 0.00% | 0.00% | 3.85% | 88.76% |
Stock Sector Breakdown
Weighting | Return Low | Return High | DFNL % Rank | |
---|---|---|---|---|
Financial Services | 99.11% | 46.33% | 100.00% | 39.33% |
Communication Services | 0.89% | 0.00% | 4.06% | 6.74% |
Utilities | 0.00% | 0.00% | 0.00% | 87.64% |
Technology | 0.00% | 0.00% | 43.13% | 89.89% |
Real Estate | 0.00% | 0.00% | 40.95% | 93.26% |
Industrials | 0.00% | 0.00% | 5.08% | 92.13% |
Healthcare | 0.00% | 0.00% | 0.20% | 87.64% |
Energy | 0.00% | 0.00% | 0.00% | 87.64% |
Consumer Defense | 0.00% | 0.00% | 4.21% | 87.64% |
Consumer Cyclical | 0.00% | 0.00% | 42.54% | 91.01% |
Basic Materials | 0.00% | 0.00% | 0.00% | 87.64% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | DFNL % Rank | |
---|---|---|---|---|
US | 82.95% | 0.00% | 106.77% | 85.39% |
Non US | 15.80% | 0.00% | 99.42% | 15.73% |
DFNL - Expenses
Operational Fees
DFNL Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.64% | 0.08% | 13.33% | 75.28% |
Management Fee | 0.55% | 0.03% | 1.25% | 31.11% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.10% | 0.25% | N/A |
Sales Fees
DFNL Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 3.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
DFNL Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 2.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
DFNL Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 10.00% | 3.00% | 406.00% | 20.51% |
DFNL - Distributions
Dividend Yield Analysis
DFNL | Category Low | Category High | DFNL % Rank | |
---|---|---|---|---|
Dividend Yield | 1.59% | 0.00% | 11.71% | 44.44% |
Dividend Distribution Analysis
DFNL | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annual | Quarterly | Annual |
Net Income Ratio Analysis
DFNL | Category Low | Category High | DFNL % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.40% | -0.76% | 10.57% | 49.44% |
Capital Gain Distribution Analysis
DFNL | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 27, 2023 | $0.617 | OrdinaryDividend |
Dec 27, 2023 | $0.087 | CapitalGainLongTerm |
Dec 28, 2022 | $0.905 | OrdinaryDividend |
Dec 29, 2021 | $0.749 | OrdinaryDividend |
Dec 29, 2020 | $0.347 | OrdinaryDividend |
Dec 27, 2019 | $0.360 | OrdinaryDividend |
Dec 27, 2019 | $0.282 | CapitalGainLongTerm |
Dec 26, 2018 | $0.208 | CapitalGainShortTerm |
Dec 26, 2018 | $0.165 | CapitalGainLongTerm |
Dec 26, 2018 | $0.267 | OrdinaryDividend |
Dec 26, 2017 | $0.097 | OrdinaryDividend |
Dec 26, 2017 | $0.166 | CapitalGainShortTerm |
DFNL - Fund Manager Analysis
Managers
Christopher Davis
Start Date
Tenure
Tenure Rank
Jan 11, 2017
5.39
5.4%
Christopher Davis, Portfolio Manager, is a research analyst and Chair of the Portfolio Review Committee which oversees the management of the Davis Global, International and All-Cap Strategies. Mr. Davis with Danton Goei is Portfolio Manager for all large cap equity and concentrated equity portfolios. Mr. Davis joined the firm in 1989 after working as a securities analyst. He received his M.A. from the University of St. Andrews in Scotland.
Pierce Crosbie
Start Date
Tenure
Tenure Rank
Dec 31, 2018
3.42
3.4%
Pierce B.T. Crosbie - Research Analyst Pierce B. T. Crosbie joined Davis Advisors in 2008. Previously, he worked as a research analyst at Davidson Kempner Capital Management in the distressed debt group, and in the mergers and acquisitions group at RBC Capital Markets. Mr. Crosbie received his B.A. from McGill University and his M.B.A. from the Harvard Business School and is a CFA charter holder.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 25.42 | 9.61 | 4.58 |