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.
Fund Basics
Fund sponsor | Davis |
Category | US Equities |
Asset class | Equity |
Website | link... |
Inception date | Jan 11, 2017 |
Assets (mns) | $175 |
Expense ratio | 63 bp |
Currency | USD |
Sector Breakdown
Fund Structure
Regulation | Open-Ended Fund |
Distributions | Annually |
Taxation | 1099 |
Stock selection | Proprietary |
Weighting | Proprietary |
Holdings Transparency | Full |
Derivatives-based | No |
Options available | Yes |
Currency hedged | No |
Fund of funds | No |
Top 10 Holdings
BERKSHIRE HATHAWAY INC-CL B | 8.9 % |
CAPITAL ONE FINANCIAL CORP | 8.5 % |
MARKEL CORP | 6.9 % |
CHUBB LIMITED | 6.8 % |
JPMORGAN CHASE & CO | 6.8 % |
WELLS FARGO & CO | 5.8 % |
BANK OF NEW YORK MELLON CORP | 5.8 % |
JULIUS BAER GRUPPE AG | 5.7 % |
US BANCORP | 5.6 % |
FIFTH THIRD BANCORP | 5.4 % |
Constituent Breakdown
Number of holdings | 27 |
Herfindahl-Hirschman Index | 485 |
Wgt avg mkt cap (mns) | $132,937 |
Large cap (>$10bn) | 98.0% |
Mid cap ($2-10bn) | 0.0% |
Small cap (<$2bn) | 2.0% |
Developed mkts. | 99.0% |
Emerging mkts. | 1.0% |
Country Exposure
UNITED STATES | 80.4 % | |
SWITZERLAND | 12.6 % | |
DENMARK | 5.2 % | |
SINGAPORE | 5.0 % | |
BERMUDA | 3.9 % | |
NORWAY | 2.5 % | |
NETHERLANDS | 1.4 % | |
CHINA | 1.0 % |
Historical Performance
Standardized Annual Returns (as of 11/30/2023)
YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
---|---|---|---|---|---|---|
5.5% | 1.2% | 0.4% | 10.4% | 6.6% | -- | 7.4% |
Market Correlations
versus... | Beta | R-squared |
S&P 500 | 0.90 | 54% |
MSCI EAFE | 1.01 | 62% |
MSCI Emg Mkts | 0.72 | 35% |
Liquidity Measures
Avg. volume (000) | 12 |
Turnover | 0.2% |
Avg. Bid/Ask (% of price) | 0.30% |
ADV of underlying (mns) | $6,739 |
Technical Indicators
Recent close | $28.61 |
30d moving avg. | $26.32 |
Annualized volatility | 21.7% |
Relative strength (RSI) | 51 |
Short interest (ETF) | 0.0% |
Short interest (underlying) | 1.3% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
Ticker | Fund Name | Overlap vs. DFNL |
Expenses vs. DFNL |
ALTAR Score™ vs. DFNL |
---|---|---|---|---|
DUSA | Davis Select U.S. Equity ETF | 43.4% | -2 bp | +0.4% |
KBWB | Invesco KBW Bank ETF | 42.5% | -28 bp | +2.6% |
XLF | Financial Select Sector SPDR Fund | 33.4% | -53 bp | -1.6% |
IYF | iShares U.S. Financials ETF | 33.1% | -23 bp | -1.3% |
IYG | iShares US Financial Services ETF | 32.7% | -23 bp | -1.5% |
VFH | Vanguard Financials Index Fund | 31.5% | -53 bp | -1.1% |
FNCL | Fidelity MSCI Financials Index ETF | 31.3% | -55 bp | -1.2% |
FTXO | First Trust Nasdaq Bank ETF | 30.9% | -3 bp | +3.8% |
DWLD | Davis Select Worldwide ETF | 30.1% | -1 bp | -1.0% |
IXG | iShares Global Financials ETF | 25.2% | -21 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
2018 | 2019 | 2020 | 2021 | 2022 | 2023E | 2024E | ||
---|---|---|---|---|---|---|---|---|
Sales per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Book value per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
2022 | 2023E | Fwd Est | 2024E | |
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 12/6/2023
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
DFNL
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 Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
DFNL
8.0%
Cat. Avg
6.1%
Fund Category: US Equities
Avg. Return on Equity | --% |
Divided by: Fwd. P/BV | --x |
Less: Expenses | -- bp |
Equals: ALTAR Score™ | 8.0% |
Recommendation
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
Category Overview
There are 896 funds in the US Equities category, with an average ALTAR Score™
of 6.1% and a standard deviation of
3.0%. DFNL's ALTAR Score™ is approximately
0.6 standard deviations
above
the category average. This places DFNL in the 73rd percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
DFNL
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
Latest price | |
Change | |
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Today's Trading
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Total Cost of Ownership (TCO) Comparison
Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
---|---|---|---|
DFNL | 63.0 | 29.7 | 92.7 |
Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .