Davis Funds followed up the 2017 launches of its first ETFs on Friday with the rollout of a new actively managed ETF. The Davis Select International ETF (DINT) takes a global approach and can invest in developed and emerging markets.
DINT is listed on the Nasdaq stock exchange and comes with an expense ratio of 0.75%.
Like the rest of Davis’ ETFs, DINT relies on the firm’s in-house investment discipline, which is based on identifying companies with proven management, a durable franchise and sustainable competitive advantages, the prospectus says. The firm believes such companies have greater ability to generate long-term value.
If conditions are unfavorable, the ETF’s allocation to non-U.S. stocks can go as low as 30%, but typically 40% or more will be in stocks that are domiciled, organized, listed in or deriving more than half of their revenue outside the U.S. DINT can invest in stocks across the market capitalization spectrum.
Davis offers three other actively managed ETFs, the largest of which is the $191.5 million Davis Select Worldwide ETF (DWLD). The firm’s assets under management comprise a total of $429.1 million.
Contact Heather Bell at [email protected]