Davis Select Financial ETF
DFNL
Chicago Board Options Exchange- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 2949 East Elvira Road, Suite 101 Tucson AZ United States of America 85756
- IPO Date
- Jan 12, 2017
- CIK
- 0001670310
- Website
- davisetfs.com
- Similar Companies
- Business
- Davis Select Financial ETF (DFNL) is an exchange-traded fund that seeks long-term growth of capital by investing principally in common stocks of durable, well-managed financial services companies selected for their attractive growth potential at value prices; the portfolio typically holds 15 to 35 high-conviction securities across banks, financial services, insurance, and related sectors, including leading U.S. money center and regional banks such as JPMorgan Chase, Wells Fargo, Capital One Financial, and U.S. Bancorp; consumer finance firms like American Express; property and casualty insurers including Markel Group, Chubb, and Loews; wealth managers such as Julius Baer; custody banks like Bank of New York Mellon; and select international names including Danske Bank and DBS Group Holdings. DFNL benchmarks against the S&P 500 Financials Index but remains benchmark-agnostic with low turnover and a long-term horizon; it offers annual dividends, options availability, and trades on Cboe Global Markets with a net expense ratio of 0.63%, supported by a contractual fee waiver through March 1, 2025. Launched on January 11, 2017 by Davis Fundamental ETF Trust and managed by Davis Selected Advisers, L.P.—an independent investment firm founded in 1969—the ETF is headquartered in New York and operates globally through its equity holdings, with total net assets of approximately $385 million as of December 2025. In recent developments, DFNL reported a 2024 NAV return of 28.18%, closely tracking the S&P 500 Financials Index's 30.56% gain amid a favorable environment for banks and insurers; portfolio managers highlighted strong contributions from large banks and consumer finance holdings, while noting ongoing valuation discounts and positioning for potential recessionary resilience; no major acquisitions, funding rounds, or structural changes occurred in the last 1-2 years, though the fund continues to emphasize excess capital deployment and regulatory clarity in holdings like Capital One ahead of its pending merger with Discover Financial.