Davis Select International ETF

DINT

시가총액 US$2.71억

Active management is gaining traction as investors navigate a market paradox where high valuations meet geopolitical uncertainty, according to Chris Davis, chairman and portfolio manager at Davis Advisors. Key Takeaways: DUSA crossed $1 billion in assets with a portfolio of 26 stocks trading at 14 times earnings.

Davis Select International ETF (DINT) is an actively managed fund focused on long-term capital growth through a concentrated portfolio of global businesses outside the U.S. DINT has consistently outperformed its benchmark, the MSCI ACWI ex US Index, over medium and long-term periods, despite slightly lagging during the recent AI-driven rally. The fund differentiates itself with a unique portfolio concentrated in China, South Korea, and Denmark, and emphasizes strong management and undervalued growth stocks.

DINT is an actively managed ETF focused on international equities, consistently outperforming its MSCI ACWI ex US Index benchmark since inception. The fund's concentrated portfolio, disciplined stock selection, and emphasis on management quality set it apart from passive peers like ACWX. Despite a slightly higher expense ratio (0.66%), DINT's strong returns and unique portfolio composition justify the cost for international exposure.

DINT, an actively managed ETF by Davis Advisors, focuses on undervalued international equities, primarily in China and Korea, aiming for long-term capital growth. Despite my skepticism about active management, DINT has consistently outperformed the MSCI ACWI ex-US Index with slightly higher fees but stronger returns. The fund's concentrated portfolio and strategic stock selection, led by experienced manager Danton Goei, have driven its success.

Actively managed equity ETFs have continued to gain traction in 2024 and risen in value. Some of the top performing funds were focused on in vogue, large-cap growth stocks such as the American Century Focused Dynamic Growth ETF (FDG) and the Fidelity Blue Chip Growth ETF (FBCG).

DINT has a Davis Investment Discipline-guided active strategy centered on international ex-U.S. equities. With a 28.6% weight, Chinese stocks are front and center of its portfolio. Chinese stocks have supercharged DINT's performance this year, yet mostly because of them, it substantially underperformed VXUS, ACWX, and IVV over April 2018-September 2024.