BROUGHT TO YOU BY:

ETF Portfolio Builder

New

ETF Portfolio Builder

New

DFNLvsIAIETF Comparison

ETF 1

DFNL

Davis Select Financial ETF

This fund is part of

Uncategorized Equities

-0.83%

Full DFNL fund page

VS

ETF 2

IAI

iShares U.S. Broker-Dealers & Securities Exchanges ETF

This fund is part of

US Financials

+0.15%

Full IAI fund page

Davis Select Financial ETF (DFNL) belongs to the Uncategorized Equities segment. iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) is part of the US Financials segment. DFNL's top 3 sector exposures are Financials, Information Technology and Consumer Discretionary. In contrast, IAI's top sector exposures are Financials, DFNL is more expensive with a Total Expense Ratio (TER) of 0.63%, versus 0.38% for IAI. DFNL is down -2.05% year-to-date (YTD) with +$80M in YTD flows. IAI performs better with -0.52% YTD performance, and -$71M in YTD flows. Run a side-by-side ETF comparison of DFNL and IAI below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.

Find out how industry players manage ETF portfolios. Discover our library of Model portfolios

DFNL vs IAI performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 04/28/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	DFNL IAI	+7.88%+12.27%	-1.22%-3.53%	-2.05%-0.52%	+22.74%+29.51%	+77.46%+103.14%	+64.02%+98.08%
Flows	DFNL IAI	+$58K-$138M	+$15M-$184M	+$80M-$71M	+$159M+$60M	+$182M+$205M	+$155M+$502M

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	DFNL IAI	+17.62%+25.65%	+14.65%+19.50%	+16.88%+20.12%	+19.07%+21.46%
Max drawdown	DFNL IAI	-12.61%-14.26%	-12.61%-16.50%	-16.11%-23.13%	-26.10%-28.75%
Max drawdown duration	DFNL IAI	79d89d	79d102d	164d120d	788d850d

Trading data

Create an account to view trading data

Join for free

	DFNL	IAI
Last sale 4/29/2026 at 1:30 PM	$46.67	$174.63
Previous close 04/28/2026	$47.23	$177.23
Consolidated volume 04/28/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of March 31, 2026

1-year trailing difference

Create an account to view replication metrics

Join for free

DFNL

is actively managed and doesn’t replicate an index

Create an account to view replication quality

Join for free

	DFNL	IAI
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 4/29/2026 at 1:30 PM

Live

Closed

	DFNL	IAI
Last price	$46.67	$174.63
1D performance	-1.20%	-1.47%
AuM	$467.88 M	$1.52 B
E/R	0.63%	0.38%

Characteristics

	DFNL	IAI
Management strategy	Active	Passive
Provider	Davis ETFs	iShares
Benchmark	-	Dow Jones U.S. Select Investment Services Index
N° of holdings	30	31
Asset class	-	Equities
Trailing 12m distribution yield	Join	Join
Inception date	January 11, 2017	May 1, 2006
ESG	No	No

More DFNL data on Trackinsight

More IAI data on Trackinsight

Exposure

Countries

DFNL

USA

70.63%

Switzerland

9.26%

Bermuda

7.59%

Other

12.52%

IAI

USA

99.98%

Other

0.02%

Sectors

DFNL

Financials

95.21%

Other

4.79%

IAI

Financials

98.33%

Other

1.67%

Diversification

DFNL

Total weight of top 15 holdings out of 15

71.05%

IAI

Total weight of top 15 holdings out of 15

89.1%

Top 15 holdings

Data as of March 31, 2026

DFNL

CAPITAL ONE FINANCIAL

9.90%

BERKSHIRE HATHWAY

5.90%

US

5.59%

FIFTH THIRD BANCORP

5.17%

MARKET CORPORATION

5.04%

CHUBB LTD

4.98%

WELLS FARGO

4.95%

PNC FINL SVC

4.81%

JPMORGAN CHASE

4.40%

JULIUS BAER

4.28%

AMERICAN EXPRESS

3.63%

LOEWS

3.44%

RENAISSANCERE

3.31%

DBS GROUP HOLDINGS

2.94%

EXOR SPA

2.72%

IAI

THE GOLDMAN SACHS GROUP

18.31%

MORGAN STANLEY

14.29%

CHARLES SCHWAB

11.32%

INTERCONTINENTAL EXCHANGE INC

4.52%

S&P GLOBAL INC

4.48%

MOODYS

4.42%

CME GROUP

4.40%

MSCI

4.12%

ROBINHOOD MARKETS

3.98%

COINBASE GLOBAL

3.97%

NASDAQ INC

3.97%

INTERACTIVE BROKERS GROUP

3.11%

CBOE GLOBAL MARKETS INC

3.06%

RAYMOND JAMES

2.64%

LPL FINANCIAL HOLDINGS

2.51%

Frequently asked questions about DFNL and IAI

How have the DFNL and IAI ETFs performed in 2026?

As of April 28, 2026, DFNL is down -2.05% year-to-date (YTD), while IAI has lost -0.52%. That puts IAI better performer ahead so far this year.

Which ETF is attracting more investor money: DFNL or IAI?

Year-to-date, the DFNL ETF saw +$80M in flows, compared to -$71M for IAI.

Which ETF is more volatile: DFNL or IAI?

Over the past year, DFNL had a volatility of 14.65%, while IAI experienced 19.5%.

Which ETF is bigger: DFNL or IAI?

As of April 28, 2026, DFNL holds $467.88 M in assets under management (AUM), while IAI manages $1.52 B.

What sectors do the DFNL and IAI ETFs invest in?

DFNL leans toward sectors like Financials. Meanwhile, IAI focuses on Financials.

What are the top holdings of the DFNL ETF and IAI ETF?

DFNL top holdings include CAPITAL ONE FINANCIAL, BERKSHIRE HATHWAY and US. IAI holds in its top three: THE GOLDMAN SACHS GROUP, MORGAN STANLEY and CHARLES SCHWAB.

DFNLvsIAIETF Comparison

Davis Select Financial ETF

iShares U.S. Broker-Dealers & Securities Exchanges ETF

DFNL vs IAI performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the DFNL and IAI ETFs performed in 2026?

As of April 28, 2026, DFNL is down -2.05% year-to-date (YTD), while IAI has lost -0.52%. That puts IAI better performer ahead so far this year.

Which ETF is attracting more investor money: DFNL or IAI?

Year-to-date, the DFNL ETF saw +$80M in flows, compared to -$71M for IAI.

Which ETF is more volatile: DFNL or IAI?

Over the past year, DFNL had a volatility of 14.65%, while IAI experienced 19.5%.

Which ETF is bigger: DFNL or IAI?

As of April 28, 2026, DFNL holds $467.88 M in assets under management (AUM), while IAI manages $1.52 B.

What sectors do the DFNL and IAI ETFs invest in?

DFNL leans toward sectors like Financials. Meanwhile, IAI focuses on Financials.

What are the top holdings of the DFNL ETF and IAI ETF?

DFNL top holdings include CAPITAL ONE FINANCIAL, BERKSHIRE HATHWAY and US. IAI holds in its top three: THE GOLDMAN SACHS GROUP, MORGAN STANLEY and CHARLES SCHWAB.

Which ETF is more diversified: DFNL or IAI?

DFNL holds 31 securities with 71.05% of its assets in the top 15. IAI has 35 securities and a top 15 weight of 89.1%.

These Industry ETFs Could Be Vulnerable to AI Disruption

Three ETFs That Could Outperform in a Volatile, Tariff-Driven Market Environment

The US labor market continues to hold up

Build and Analyze Your ETF Portfolio Like a Pro