DFNL ETF — Davis Select Financial ETF

Davis Select Financial ETF (DFNL)

Updated October 16, 2026.

DFNL is an ETF. its distribution rate is 1.34%, its trailing-12-month yield is 1.34%, its expense ratio is 0.61%. Dividend Vision Distribution Safety Score™ is 94/100 (Safe). Total return is 198.5% over the past 9.8 years, 93.7 points behind SPY at 292.2%.

Davis Select Financial ETF is an actively managed fund that invests at least 80% of its assets in stocks of financial services companies, typically holding 15 to 35 positions across large, medium, and small-cap issuers in both developed and emerging markets. The fund carries a modest current distribution rate with annual distributions and an expense ratio of 0.61%. It appeals to investors seeking exposure to the financial sector with active management and a lower fee structure relative to many actively managed equity funds.

DFNL performance versus SPY

Price and return data through 2026-10-16.

Total return is 198.5% over the past 9.8 years, 93.7 points behind SPY at 292.2%. Over the past year its total return — price change plus distributions reinvested — is 15.1%. Its deepest 1-year drawdown was 12.9%.

DFNL key facts

Distribution Safety Score™

94 · Safe

Safety-Adjusted Yield

1.26%

Issuer

Davis

Asset type

ETF

Asset class

Equity

Inception date

01/11/2017

Expense ratio

0.61%

Distribution rate

1.34%

Distribution frequency

Annual

Trailing yield

1.34%

Last close

$49.23 (as of 2026-10-16)

AUM

$440,341,051

Average volume

7390.0

Dividend

$0.66

Ex-dividend date

12/29/2025

Payment date

12/30/2025

Beta

0.77

How Dividend Vision calculates yield and returns

Distribution rate (1.34%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (1.34%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Davis; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

DFNL risks and drawbacks

DFNL's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Payments are annual, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 12.9%.

Who may consider DFNL — and who may not

DFNL may suit someone looking for a high Distribution Safety Score. It is a weaker fit for investors who need monthly cash flow (DFNL pays annual); investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on DFNL

• All tickers starting with D

Tagged: Financials.

Frequently asked questions

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