DFNLvsKBWBETF Comparison
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Davis Select Financial ETF (DFNL) belongs to the Uncategorized Equities segment. Invesco KBW Bank ETF (KBWB) is part of the US Financials segment. DFNL's top 2 sector exposures are Finance and Consumer Non-Cyclicals. In contrast, KBWB's top sector exposures are Finance. DFNL is more expensive with a Total Expense Ratio (TER) of 0.61%, versus 0.35% for KBWB. DFNL is up 7.41% year-to-date (YTD) with +$35M in YTD flows. KBWB performs better with 10.07% YTD performance, and +$514M in YTD flows. Run a side-by-side ETF comparison of DFNL and KBWB below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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DFNL vs KBWB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 11/04/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | DFNL KBWB | +6.83%+4.26% | -1.12%-6.71% | +7.41%+10.07% | +15.63%+21.36% | +90.91%+142.77% | +66.39%+45.59% |
| Flows | DFNL KBWB | -$6M+$358M | -$20M+$556M | +$35M+$514M | +$104M+$293M | +$141M+$3.38B | +$104M+$2.58B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | DFNL KBWB | +13.16%+17.14% | +14.66%+20.20% | +16.45%+23.16% | +18.73%+26.10% |
| Max drawdown | DFNL KBWB | -9.43%-13.82% | -12.61%-16.41% | -16.11%-25.42% | -26.10%-49.65% |
| Max drawdown duration | DFNL KBWB | 80d80d | 138d114d | 164d141d | 788d1043d |
Trading data
DFNL | KBWB | |
Last sale 11/4/2026 at 8:58 PM | $51.64 | $88.91 |
| Previous close 11/04/2026 | $50.41 | $91.26 |
| Consolidated volume 11/04/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 30, 2026
1-year trailing difference
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DFNL
is actively managed and doesn’t replicate an indexDFNL | KBWB | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 11/4/2026 at 8:58 PM
Live
Closed
DFNL | KBWB | |
|---|---|---|
| Last price | $51.64 | $88.91 |
| 1D performance | +2.43% | -2.58% |
| AuM | $463.96 M | $6.84 B |
| E/R | 0.61% | 0.35% |
Characteristics
DFNL | KBWB | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Davis ETFs | Invesco |
| Benchmark | - | KBW Nasdaq Bank Index |
| N° of holdings | 30 | 24 |
| Asset class | - | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | January 11, 2017 | November 1, 2011 |
| ESG | No | No |
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Exposure
Countries
DFNL
USA
71.51%
Switzerland
8.81%
Bermuda
7.5%
Other
12.17%
KBWB
USA
100.01%
Other
-0.01%
Sectors
DFNL
Finance
99.18%
Other
0.82%
KBWB
Finance
100.01%
Other
-0.01%
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Diversification
DFNL
Total weight of top 15 holdings out of 15
72.12%
KBWB
Total weight of top 15 holdings out of 15
79.69%
Top 15 holdings
Data as of September 30, 2026
DFNL
Capital One Financial Corp.
10.51%
U.S. Bancorp
6.41%
Fifth Third Bancorp
5.76%
Markel Group, Inc.
5.61%
Berkshire Hathaway, Inc.
5.48%
Wells Fargo & Co.
4.94%
JPMorgan Chase & Co.
4.60%
Chubb Ltd.
4.49%
The PNC Financial Services Group, Inc.
4.39%
Julius Bär Gruppe AG
4.32%
DBS Group Holdings Ltd.
3.51%
American Express Co.
3.24%
RenaissanceRe Holdings Ltd.
3.23%
Loews Corp.
2.95%
Danske Bank A/S
2.68%
KBWB
JPMorgan Chase & Co.
8.11%
Wells Fargo & Co.
8.03%
Morgan Stanley
7.79%
Bank of America Corp.
7.68%
The Goldman Sachs Group, Inc.
7.66%
Citigroup, Inc.
4.28%
Fifth Third Bancorp
4.11%
U.S. Bancorp
4.10%
Truist Financial Corp.
4.07%
State Street Corp.
4.03%
The PNC Financial Services Group, Inc.
4.00%
Northern Trust Corp.
3.98%
M&T Bank Corp.
3.96%
The Bank of New York Mellon Corp.
3.95%
Capital One Financial Corp.
3.93%
Frequently asked questions about DFNL and KBWB
How have the DFNL and KBWB ETFs performed in 2026?
As of November 4, 2026, DFNL is up 7.41% year-to-date (YTD), while KBWB has returned 10.07%. That puts KBWB better performer ahead so far this year.
Which ETF is attracting more investor money: DFNL or KBWB?
Year-to-date, the DFNL ETF saw +$35M in flows, compared to +$514M for KBWB.
Which ETF is more volatile: DFNL or KBWB?
Over the past year, DFNL had a volatility of 14.66%, while KBWB experienced 20.2%.
Which ETF is bigger: DFNL or KBWB?
As of November 4, 2026, DFNL holds $463.96 M in assets under management (AUM), while KBWB manages $6.84 B.
What sectors do the DFNL and KBWB ETFs invest in?
DFNL leans toward sectors like Finance. Meanwhile, KBWB focuses on Finance.
What are the top holdings of the DFNL ETF and KBWB ETF?
DFNL top holdings include Capital One Financial Corp., U.S. Bancorp and Fifth Third Bancorp. KBWB holds in its top three: JPMorgan Chase & Co., Wells Fargo & Co. and Morgan Stanley.
Which ETF is more diversified: DFNL or KBWB?
DFNL holds 30 securities with 72.12% of its assets in the top 15. KBWB has 24 securities and a top 15 weight of 79.69%.
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Latest news about DFNL & KBWB
Financials Gain Momentum
March 25, 2024
KBWB
Regional Bank Stocks Bounce Back After a Tough Start to the Year
March 11, 2024
KBWB
Regional Bank Stocks Rally as Fed Signals Rate Cuts for 2024 Amid Slowing Inflation
December 19, 2023
KBWB
Financials and Real Estate ETFs Witness Strong Rebound
November 7, 2023
KBWB
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Regional Bank Stocks Rebound
July 24, 2023
KBWB
Regional Bank Stocks Rebound
July 24, 2023
KBWB
Rebound in Banking Stocks After Severe Losses Last Week
May 22, 2023
KBWB
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