DFNL vs. MARB ETF Comparison

Comparison of Davis Select Financial ETF (DFNL) to First Trust Merger Arbitrage ETF (MARB)

DFNL

Davis Select Financial ETF

DFNL Description

The investment seeks long-term growth of capital. The fund's investment adviser, uses the Davis Investment Discipline to invest, under normal market conditions, at least 80% of its net assets plus any borrowings for investment purposes in securities issued by companies principally engaged in the financial services sector. The fund's portfolio, generally, contains between 15 and 35 companies. It invests, principally, in common stocks. The fund may invest in large, medium or small companies without regard to market capitalization and may invest in issuers in foreign countries, including countries with developed or emerging markets. It is non-diversified.

Grade (RS Rating)

Last Trade

$32.94

Average Daily Volume

8,884

Number of Holdings ^*

* may have additional holdings in another (foreign) market

MARB

First Trust Merger Arbitrage ETF

MARB Description

The investment seeks to provide investors with capital appreciation. Under normal market conditions, the fund seeks to achieve its investment objective by establishing long and short positions in the equity securities of companies that are involved in a publicly-announced significant corporate event, such as a merger or acquisition. It's portfolio may include equity securities issued by U.S. and non-U.S. companies, including American Depositary Receipts (ADRs), and derivatives, including total return swaps. The fund may invest in securities issued by small, mid and large capitalization issuers. It is non-diversified.

Grade (RS Rating)

Last Trade

$19.60

Average Daily Volume

25,255

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	DFNL	MARB
30 Days	0.39%	-1.15%
60 Days	4.39%	-0.75%
90 Days	7.38%	-0.70%
12 Months	31.51%	1.04%

1 Overlapping Holdings

	Symbol	Grade	Weight in DFNL	Weight in MARB	Overlap
	COF	B	9.63%	-3.86%	-3.86%

DFNL Overweight 19 Positions Relative to MARB

Symbol	Grade	Weight
BRK.A	D	7.33%
JPM	B	6.47%
WFC	B	5.97%
MKL	A	5.59%
CB	C	5.45%
FITB	A	5.36%
BK	A	5.14%
AXP	B	4.78%
USB	C	4.6%
PNC	A	4.58%
L	A	3.4%
TFC	A	2.8%
BAC	B	2.53%
RKT	C	2.37%
NTB	A	1.78%
MTB	A	1.48%
STT	C	1.4%
SCHW	A	1.39%
EG	D	1.1%

DFNL Underweight 22 Positions Relative to MARB

Symbol	Grade	Weight
PXD	B	-5.82%
ACI	D	-4.96%
AMED	D	-4.57%
AXNX	C	-3.96%
ANSS	D	-3.6%
X	F	-3.53%
HES	B	-3.48%
JNPR	D	-3.3%
DFS	B	-3.26%
CERE	A	-3.05%
CTLT	C	-2.98%
VZIO	D	-2.93%
NS	D	-2.46%
LBAI	B	-2.39%
NWLI	A	-2.09%
SP	B	-1.53%
CPRI	F	-1.44%
SNPS	D	--2.02%
PFS	B	--2.45%
SUN	D	--2.47%
CVX	B	--3.65%
XOM	B	--6.25%