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DFNL vs SPY

Comparison between DAVIS SELECT FINANCIAL ETF (DFNL, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed DFNL, delivering a return of +13.3% compared to +10.7%

DFNL vs SPY - Performance Comparison

Key Characteristics

Financial metrics and valuation ratios

Net Assets
DFNL
$469M
Winner
SPY
$735B
Expense Ratio
DFNL
0.61%
Winner
SPY
0.09%
Max Drawdown
Winner
DFNL
45.70%
SPY
56.47%
Sharpe Ratio
DFNL
0.81
Winner
SPY
1.62
5Y Beta
Winner
DFNL
0.80
SPY
1.00
P/E Ratio
Winner
DFNL
16.32
SPY
28.99
Forward P/E
Winner
DFNL
11.61
SPY
22.37
PEG Ratio
DFNL
0.33
SPY
N/A
5Y Dividends CAGR
Winner
DFNL
13.72%
SPY
5.43%
5Y EPS CAGR
DFNL
7.25%
Winner
SPY
26.05%
Debt to Equity
DFNL
44.59%
Winner
SPY
32.40%
P/S Ratio
Winner
DFNL
2.37
SPY
3.74
P/B Ratio
Winner
DFNL
1.40
SPY
5.61

DFNL vs SPY - Holdings Comparison

DFNL and SPY have 19 common holdings. Overlap is 5.22%

DFNL's top 25 holdings weight is 93.87%. SPY's top 25 holdings weight is 52.37%.

RankDFNLSPY
#1
CAPITAL ONE FINANCIAL CORP (COF) - 9.60%
NVIDIA CORP (NVDA) - 8.10%
#2
MARKEL GROUP INC (MKL) - 5.81%
APPLE INC (AAPL) - 7.02%
#3
U.S. BANCORP (USB) - 5.67%
MICROSOFT CORP (MSFT) - 4.79%
#4
BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 5.62%
AMAZON.COM INC (AMZN) - 4.02%
#5
FIFTH THIRD BANCORP (FITB) - 5.37%
ALPHABET INC CLASS A (GOOGL) - 3.51%
#6
PNC FINANCIAL SERVICES GROUP INC (PNC) - 4.83%
BROADCOM INC (AVGO) - 3.10%
#7
CHUBB LTD (CB) - 4.67%
ALPHABET INC CLASS C (GOOG) - 2.79%
#8
WELLS FARGO & CO (WFC) - 4.56%
META PLATFORMS INC CLASS A (META) - 2.08%
#9
JULIUS BAER GRUPPE AG (n/a) - 4.52%
TESLA INC (TSLA) - 1.89%
#10
JPMORGAN CHASE & CO (JPM) - 4.32%
MICRON TECHNOLOGY INC (MU) - 1.56%
#11
AMERICAN EXPRESS CO (AXP) - 3.52%
BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.37%
#12
LOEWS CORP (L) - 3.28%
ELI LILLY AND CO (LLY) - 1.31%
#13
RENAISSANCERE HOLDINGS LTD (RNR) - 3.08%
JPMORGAN CHASE & CO (JPM) - 1.28%
#14
BANK OF NEW YORK MELLON CORP (BNY) - 2.96%
ADVANCED MICRO DEVICES INC (AMD) - 1.27%
#15
DBS GROUP HOLDINGS LTD (n/a) - 2.91%
EXXON MOBIL CORP (XOM) - 0.97%
#16
ROCKET COMPANIES INC ORDINARY SHARES CLASS A (RKT) - 2.84%
INTEL CORP (INTC) - 0.90%
#17
EXOR NV (n/a) - 2.62%
JOHNSON & JOHNSON (JNJ) - 0.86%
#18
DANSKE BANK AS (n/a) - 2.61%
VISA INC CLASS A (V) - 0.85%
#19
TRUIST FINANCIAL CORP (TFC) - 2.44%
WALMART INC (WMT) - 0.81%
#20
EVEREST GROUP LTD (EG) - 2.38%
CISCO SYSTEMS INC (CSCO) - 0.72%
#21
BANK OF AMERICA CORP (BAC) - 2.35%
COSTCO WHOLESALE CORP (COST) - 0.69%
#22
DNB BANK ASA (n/a) - 2.07%
CATERPILLAR INC (CAT) - 0.66%
#23
STATE STREET CORP (STT) - 2.04%
MASTERCARD INC CLASS A (MA) - 0.62%
#24
BANK OF N.T BUTTERFIELD & SON LTD (n/a) - 1.99%
LAM RESEARCH CORP (LRCX) - 0.62%
#25
CHIME FINANCIAL INC ORDINARY SHARES CLASS A (CHYM) - 1.81%
ABBVIE INC (ABBV) - 0.58%
Total Holdings31505

DFNL vs SPY - Historical Returns

Returns include dividend reinvestment.

1M
DFNL
+0.02%
Winner
SPY
+1.90%
3M
DFNL
+0.46%
Winner
SPY
+8.55%
6M
DFNL
-0.04%
Winner
SPY
+8.18%
1Y
DFNL
+15.99%
Winner
SPY
+25.79%
5Y(CAGR)
DFNL
+10.69%
Winner
SPY
+13.32%
10Y(CAGR)
DFNL
+11.67%
Winner
SPY
+15.19%
Max(CAGR)
Winner
DFNL
+11.67%
SPY
+8.47%

DFNL vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

YearDFNLSPY
2026-4.32%+8.26%
2025+29.18%+18.00%
2024+28.12%+25.59%
2023+13.50%+26.72%
2022-9.76%-18.64%
2021+32.55%+30.52%
2020-5.87%+17.28%
2019+26.20%+31.09%
2018-11.18%-5.24%
2017+20.47%+20.78%
2016N/A+13.59%
2015N/A+1.31%
2014N/A+14.56%
2013N/A+29.00%
2012N/A+14.17%
2011N/A+0.85%
2010N/A+13.14%
2009N/A+22.67%
2008N/A-36.25%
2007N/A+5.32%
2006N/A+13.85%
2005N/A+5.32%
2004N/A+10.75%
2003N/A+24.18%
2002N/A-22.42%
2001N/A-10.13%
2000N/A-8.84%
1999N/A+8.61%

DFNL vs SPY Drawdown Comparison

The maximum drawdown for DFNL was -44.51%, occurring on Mar 23, 2020. Recovery took 259 trading sessions.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current DFNL drawdown is -6.49%. The current SPY drawdown is -2.90%.

RankDFNLSPY
#1-44.51%
Jan 2, 2020 - Jan 12, 2021		-55.20%
Oct 9, 2007 - Aug 16, 2012
#2-26.27%
Feb 9, 2022 - Feb 29, 2024		-47.50%
Mar 24, 2000 - Oct 26, 2006
#3-21.13%
Jan 26, 2018 - Nov 4, 2019		-33.70%
Feb 19, 2020 - Aug 10, 2020
#4-16.05%
Feb 6, 2025 - May 13, 2025		-24.50%
Jan 3, 2022 - Dec 13, 2023
#5-12.94%
Jan 6, 2026 - Mar 27, 2026		-19.34%
Sep 20, 2018 - Apr 12, 2019
#6-9.36%
Oct 22, 2021 - Jan 7, 2022		-18.76%
Feb 19, 2025 - Jun 26, 2025
#7-8.80%
Jun 4, 2021 - Aug 11, 2021		-13.02%
Jul 20, 2015 - Apr 18, 2016
#8-8.49%
Jan 14, 2021 - Feb 16, 2021		-10.10%
Jan 26, 2018 - Aug 6, 2018
#9-7.94%
Nov 29, 2024 - Jan 27, 2025		-9.44%
Sep 2, 2020 - Nov 11, 2020
#10-7.45%
Jul 30, 2024 - Aug 23, 2024		-9.30%
Jan 19, 2000 - Mar 17, 2000
#11-7.09%
Aug 12, 2021 - Oct 8, 2021		-9.05%
Jul 19, 2007 - Oct 5, 2007
#12-6.54%
Jan 13, 2022 - Feb 9, 2022		-8.88%
Jan 27, 2026 - Apr 14, 2026
#13-6.53%
Mar 28, 2024 - May 8, 2024		-8.41%
Jul 16, 2024 - Sep 19, 2024
#14-6.31%
Mar 1, 2017 - Jun 13, 2017		-7.35%
Sep 14, 2012 - Jan 2, 2013
#15-5.61%
Sep 18, 2025 - Nov 11, 2025		-7.27%
Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between DFNL and SPY is 0.97 which considered as a very strong positive correlation - the stocks move almost identically together.

0.97
-101

Dividend Comparison (1999 - 2026)

DFNL vs SPY dividend yield comparison.

YearDFNLSPY
20260.00%0.24%
20251.37%1.07%
20242.19%1.21%
20232.33%1.40%
20223.34%1.65%
20212.45%1.20%
20201.45%1.52%
20192.52%1.75%
20183.12%2.04%
20171.10%1.80%
20160.00%2.03%
20150.00%2.06%
20140.00%1.87%
20130.00%1.81%
20120.00%2.18%
20110.00%2.05%
20100.00%1.80%
20090.00%1.95%
20080.00%3.02%
20070.00%1.85%
20060.00%1.73%
20050.00%1.73%
20040.00%1.82%
20030.00%1.47%
20020.00%1.70%
20010.00%1.25%
20000.00%1.15%
19990.00%0.24%

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