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AVRE vs DFNL

Avantis Real Estate ETF

AVREANYSE Arca

Davis Select Financial ETF

DFNLBCboe

Overlap

Expense ratio

AVRE −0.44pt a year

AVRE0.17%DFNL0.61%

Avg volume · 30D

AVRE 2.2×the volume

AVRE77.8KDFNL35.4K

5Y return · a year

DFNL +11.3pt

AVRE+0.5%DFNL+11.8%

AVRE vs DFNL Performance

Oct 29, 2021 – Oct 30, 2026

+2.7%AVRE+74.4%DFNL

Oct 29, 2021 to Oct 30, 2026. AVRE +2.7%. DFNL +74.4%. Use the arrow keys to read each point.−25%25%50%Oct 2021Apr 2024Oct 2026
Expense ratio
AVRE 0.17%, better
DFNL 0.61%
Fund size
AVRE $883M
DFNL $448M
1Y total return
AVRE +8.1%
DFNL +13.0%, better
Yield (12M)
AVRE 2.99%, better
DFNL 1.32%
Holdings
AVRE 329
DFNL 30
Avg volume (30D)
AVRE 77.8K sh, better
DFNL 35.4K sh
NAV per share
AVRE $45.98
DFNL $49.88
52W range

ETF.net Grade

AVRE: Cost 88, Risk 57, Mission not scored, Tradability 71, Holdings 87, Durability 78. DFNL: Cost 50, Risk 67, Mission not scored, Tradability 64, Holdings 32, Durability 75.
Pillar letters and Scores for AVRE, DFNL, with each pillar’s weight
PillarAVREDFNL
Cost30% weightA88HigherC50
Mission25% weightNot scoredNot scored
Risk15% weightB57B67Higher
Tradability15% weightA71HigherB64
Holdings10% weightA87HigherD32
Durability5% weightA78HigherA75

Rank among US Active Sector funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. AVRE and DFNL are both graded against the same 35 US Active Sector funds, so their Grades compare head to head.

US Active Sector⁠

Category · 35 funds
See all 35 ›

AVRE ranks 1st and DFNL 12th of 35 funds in the US Active Sector Category.

  1. Rank 1AAVREAvantis Real Estate ETFScore 77
  2. Rank 2APSRInvesco Active U.S. Real Estate ETFScore 70
  3. Rank 11BUSNGAmplify Samsung U.S. Natural Gas Infrastructure ETFScore 56
  4. Rank 12BDFNLDavis Select Financial ETFScore 55
  5. Rank 13CBYREPrincipal Real Estate Active Opportunities ETFScore 52

Our read on each fund

ETF.net Research

AVREAAvantis Real Estate ETF

DFNLBDavis Select Financial ETF

In short

AVRE Landlord exposure at index-fund pricing. AVRE holds roughly 300 REITs and property companies worldwide, measured against the S&P Global REIT Index, for 0.17% a year while the typical fund in its active-equity peer group charges far more.

DFNL Most financials ETFs hand you the whole sector by market cap. DFNL hands you roughly 30 banks and insurers, picked one at a time by Davis, a firm that has been investing since 1969.

Stated mandate

AVRE The fund seeks long-term capital appreciation.

DFNL The Fund seeks long-term growth of capital.

Why people hold it

  • AVRE 0.17% a year, a fraction of the median expense ratio in its active-equity peer group. Fees are the one part of a real estate return you know in advance.avantisinvestors.com
  • Global by design: US and developed-market property owners across roughly 300 names, so no single office tower or mall operator sets the tone.avantisinvestors.com
  • Rent shows up on a schedule. The fund distributes quarterly, and its stated objective is long-term capital appreciation rather than a yield target.avantisinvestors.com
  • On cost and structure it sits among the strongest implementations in its peer group, with a clean record: no structural flags, no scoring caps.
  • DFNL Genuinely active, not index-plus. The prospectus sets a 15 to 35 stock range and puts at least 80% in financial services, so security selection shapes the book, not index weights.sec.gov
  • Patient by design. Reported portfolio turnover has run low since launch, and the prospectus is blunt that turnover drives trading costs and taxable gains.sec.govsec.gov 2
  • The 0.61% fee sits near the going rate among the 35 active sector-equity ETFs we track, and it is the full sticker: no waiver dressing it up, nothing to expire.
  • One of the stronger implementations in its active sector-equity peer group, built on the same Davis Investment Discipline the firm applies across its funds.sec.gov

Worth knowing

  • AVRE One sector, one story. Real estate reacts hard to interest rates and credit conditions, so this moves on its own schedule versus a broad stock fund.
  • Global reach means foreign-currency property markets ride along, adding exchange-rate movement on top of the underlying real estate returns.avantisinvestors.com
  • Launched in 2021, so its live history is short next to REIT funds that have been through multiple property cycles.
  • DFNL Non-diversified on purpose. About 30 names in one sector means a stumble at a big holding lands hard, with no other sectors to soften it.sec.gov
  • Thinly traded compared with the giant index financials funds, and mid-size in assets, so spreads can widen and order placement matters more.
  • Income is a byproduct here. Distributions land once or twice a year, not monthly, and the stated objective is long-term growth of capital.

Full AVRE profile⁠

Full DFNL profile⁠

AVRE vs DFNL Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

AVRE vs DFNL Cost

Overpaying DFNL vs AVRE

$8,452

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • AVRE 0.17%

    $3,546

  • DFNL 0.61%

    $11,998

$10,000
30 years

Cost over time

  • AVRE 0.17%
  • DFNL 0.61%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530DFNL $11,998AVRE $3,546

Year by year

YearAVREDFNLOverpaying
10$310$1,093$783
20$1,211$4,181$2,970
30$3,546$11,998$8,452

Expense ratio

  • 0.17%AVRE, cheaper
  • 0.61%DFNL
  • Middle half of US Active Sector funds
  • Median 0.61%

AVRE 5th cheapest of 35 funds

DFNL 18th cheapest of 35 funds

AVRE vs DFNL Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
AVRE 2.99%, better
DFNL 1.32%
Payout (12M)
AVRE $1.38
DFNL $0.66
Last payment
AVRE $0.40
DFNL $0.66
Ex-dividend
AVRE Sep 8, 2026
DFNL Dec 29, 2025
Paid on
AVRE Sep 10, 2026
DFNL Dec 30, 2025
Frequency
AVRE Quarterly
DFNL Annual

Distribution history

Per share, 2017 to 2026, same scale for both

AVREQuarterly · 20 paymentsAll AVRE payments⁠
One bar per payment. 20 payments from 2017 to 2026 YTD. Dec 16, 2021 $0.34; Mar 22, 2022 $0.15; Jun 21, 2022 $0.15; Sep 20, 2022 $0.34; Dec 15, 2022 $0.41; Mar 23, 2023 $0.26; Jun 20, 2023 $0.28; Sep 21, 2023 $0.42; Dec 18, 2023 $0.49; Mar 21, 2024 $0.26; Jun 24, 2024 $0.36; Sep 23, 2024 $0.66; Dec 17, 2024 $0.40; Mar 25, 2025 $0.27; Jun 24, 2025 $0.40; Sep 23, 2025 $0.65; Dec 16, 2025 $0.55; Mar 10, 2026 $0.04; Jun 9, 2026 $0.39; Sep 8, 2026 $0.40. Use the arrow keys to read each point.$0$12017202020232026YTD
DFNLAnnual · 9 paymentsAll DFNL payments⁠
One bar per payment. 9 payments from 2017 to 2026 YTD. Dec 26, 2017 $0.26; Dec 26, 2018 $0.64; Dec 27, 2019 $0.64; Dec 29, 2020 $0.35; Dec 29, 2021 $0.75; Dec 28, 2022 $0.91; Dec 27, 2023 $0.70; Dec 27, 2024 $0.83; Dec 29, 2025 $0.66. Use the arrow keys to read each point.$0$12017202020232026YTD

AVRE vs DFNL Risk

Fall from peak · 5 years

  • AVRE
  • DFNL
Oct 29, 2021 to Oct 30, 2026. Worst fall: AVRE −33.3% · Oct 2023. Use the arrow keys to read each point.−30%−20%−10%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
AVRE 15.6%DFNL 15.0%, better
Return per unit of riskSharpe ratio, 3 years
AVRE 0.53DFNL 1.36, better
Worst fallMax drawdown, 5 years
AVRE −33.3%DFNL −26.3%, better
Market sensitivityBeta, 5 years
AVRE 0.90DFNL 0.84

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