KRE vs. DFNL ETF Comparison

Comparison of SPDR S&P Regional Banking ETF (KRE) to Davis Select Financial ETF (DFNL)

KRE

SPDR S&P Regional Banking ETF

KRE Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index derived from the regional banking segment of the U.S. banking industry. In seeking to track the performance of the S&P Regional Banks Select Industry Index (the "index"), the fund employs a replication strategy. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index represents the regional banks industry group of the S&P Total Market Index ("S&P TMI"). The fund is non-diversified.

Grade (RS Rating)

Last Trade

$66.13

Average Daily Volume

14,269,126

Number of Holdings ^*

140

* may have additional holdings in another (foreign) market

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

$40.21

Average Daily Volume

9,031

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	KRE	DFNL
30 Days	12.81%	5.93%
60 Days	15.39%	9.40%
90 Days	15.31%	11.08%
12 Months	53.86%	43.54%

2 Overlapping Holdings

	Symbol	Grade	Weight in KRE	Weight in DFNL	Overlap
	MTB	A	5.01%	1.75%	1.75%
	TFC	A	4.4%	2.77%	2.77%

KRE Overweight 138 Positions Relative to DFNL

Symbol	Grade	Weight
HBAN	A	4.87%
RF	A	4.72%
CFG	B	4.57%
FHN	A	3.88%
ZION	B	3.08%
WBS	A	2.45%
SNV	C	2.3%
OZK	B	2.28%
WAL	B	2.26%
EWBC	A	2.09%
COLB	B	1.86%
CFR	B	1.86%
SSB	B	1.59%
PNFP	B	1.58%
VLY	B	1.5%
CADE	B	1.48%
AX	B	1.45%
WTFC	A	1.44%
UMBF	B	1.34%
PB	B	1.31%
ONB	C	1.16%
FNB	A	1.15%
CBSH	B	1.14%
BPOP	C	1.1%
ASB	B	1.05%
TBBK	B	0.95%
BANC	B	0.93%
HWC	B	0.89%
FULT	A	0.86%
TCBI	C	0.86%
GBCI	B	0.85%
BKU	A	0.84%
HOMB	A	0.79%
FFIN	B	0.78%
CUBI	B	0.77%
BOH	B	0.75%
FBP	C	0.69%
ABCB	B	0.65%
UBSI	B	0.62%
FIBK	B	0.59%
AUB	B	0.55%
EBC	B	0.55%
PFS	B	0.54%
CVBF	A	0.54%
CBU	B	0.53%
CATY	B	0.52%
INDB	B	0.52%
BOKF	B	0.5%
SFBS	C	0.48%
UCB	A	0.48%
FHB	B	0.47%
IBOC	B	0.47%
WAFD	B	0.45%
RNST	B	0.44%
WSFS	B	0.43%
PPBI	C	0.42%
HTLF	B	0.42%
TFIN	B	0.42%
IBTX	B	0.41%
BANR	B	0.4%
SBCF	B	0.39%
CASH	B	0.38%
NBHC	C	0.36%
SFNC	C	0.34%
TRMK	C	0.33%
FFBC	B	0.33%
HTH	C	0.31%
FRME	B	0.3%
SASR	B	0.3%
OFG	B	0.29%
VBTX	B	0.28%
PRK	B	0.28%
NWBI	B	0.28%
FCF	B	0.28%
HOPE	C	0.27%
BHLB	B	0.26%
EGBN	B	0.25%
NBTB	B	0.25%
WSBC	B	0.24%
TOWN	B	0.24%
LKFN	C	0.24%
BANF	B	0.24%
FBMS	B	0.23%
LOB	C	0.22%
EFSC	B	0.21%
FBK	C	0.21%
CHCO	B	0.2%
PFBC	B	0.2%
FBNC	B	0.2%
WABC	B	0.19%
OCFC	B	0.19%
BRKL	B	0.19%
DCOM	B	0.19%
QCRH	B	0.18%
MCB	B	0.16%
PFC	B	0.16%
STBA	B	0.16%
CPF	B	0.15%
HAFC	B	0.15%
TCBK	C	0.15%
AMAL	B	0.15%
SYBT	B	0.15%
CFFN	C	0.15%
FFWM	C	0.14%
HFWA	C	0.14%
BUSE	B	0.14%
SRCE	B	0.14%
NIC	B	0.13%
PEBO	B	0.13%
CFB	B	0.13%
HTBK	B	0.13%
NFBK	C	0.13%
BY	B	0.13%
OSBC	A	0.13%
CNOB	B	0.12%
IBCP	B	0.12%
TMP	B	0.12%
CCB	A	0.11%
KRNY	C	0.11%
TFSL	A	0.11%
SBSI	C	0.11%
HIFS	C	0.1%
OBK	C	0.1%
WASH	C	0.1%
PGC	B	0.1%
FFIC	B	0.09%
AMTB	B	0.09%
MBWM	B	0.09%
UVSP	B	0.08%
CTBI	B	0.08%
TRST	B	0.08%
HBNC	B	0.07%
THFF	B	0.06%
CAC	C	0.06%
MSBI	B	0.06%
GSBC	C	0.05%
CLBK	C	0.04%
HONE	C	0.04%

KRE Underweight 19 Positions Relative to DFNL

Symbol	Grade	Weight
COF	C	-10.07%
BRK.A	B	-6.79%
JPM	A	-6.32%
WFC	A	-5.76%
BK	A	-5.58%
FITB	B	-5.52%
MKL	A	-5.11%
USB	A	-5.0%
CB	C	-4.99%
PNC	B	-4.98%
AXP	A	-3.98%
L	A	-3.0%
BAC	A	-2.49%
RKT	F	-2.47%
RNR	C	-2.13%
NTB	B	-1.62%
STT	B	-1.49%
SCHW	B	-1.17%
EG	C	-0.9%