Fund Description: Davis Select International ETF is an actively managed exchange-traded fund or Actively Managed ETF which is a separate investment portfolio of the Davis Fundamental ETF Trust, an open-end investment management company. INVESTMENT OBJECTIVE: The Davis Select International ETF seeks long-term growth of capital. The Fund is an actively managed ETF and thus does not seek to replicate the performance of a specific index. Rather, the Adviser has discretion on a daily basis to actively manage the Fund’s portfolio in accordance with the Fund’s investment objective. FUND STRATEGY: The Fund's investment adviser, uses the Davis Investment Discipline to invest the Fund's portfolio principally in common stocks (including indirect holdings of common stock through depositary receipts) issued by foreign companies, including countries with developed or emerging markets. The Fund may invest in large, medium or small companies without regard to market capitalization. The Fund will invest significantly (at least 40% of total assets under normal market conditions and at least 30% of total assets if market conditions are not deemed favorable) in issuers (i) organized or located outside of the U.S.; (ii) whose primary trading market is located outside the U.S.; or (iii) doing a substantial amount of business outside the U.S., which the Fund considers to be a company that derives at least 50% of its revenue from business outside the U.S. or has at least 50% of its assets outside the U.S. Under normal market conditions, the Fund will invest in issuers representing at least three different countries. These non-U.S. company investments may include American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs and together Depositary Receipts). FUND MANAGEMENT: Davis Selected Advisers, L.P. serves as the Fund's investment adviser. Davis Selected Advisers NY, Inc., a wholly owned subsidiary of the Adviser, serves as the Fund's sub-adviser.