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DFNL vs TRUT

Davis Select Financial ETF

DFNLBCboe

VanEck Technology TruSector ETF

TRUTANasdaq

Overlap

Expense ratio

TRUT −0.47pt a year

DFNL0.61%TRUT0.14%

Avg volume · 30D

TRUT 5.2×the volume

DFNL35.4KTRUT182K

DFNL vs TRUT Performance

Oct 31, 2025 – Oct 30, 2026

+13.0%DFNL+12.7%TRUT

Oct 31, 2025 to Oct 30, 2026. DFNL +13.0%. TRUT +12.7%. Use the arrow keys to read each point.−10%0%20%Oct 2025Apr 2026Oct 2026
Expense ratio
DFNL 0.61%
TRUT 0.14%, better
Fund size
DFNL $448M
TRUT $238M
1Y total return
DFNL +13.0%, better
TRUT +12.7%
Yield (12M)
DFNL 1.32%, better
TRUT 0.35%
Holdings
DFNL 30
TRUT 77
Avg volume (30D)
DFNL 35.4K sh
TRUT 182K sh, better
NAV per share
DFNL $49.88
TRUT $31.15
52W range

ETF.net Grade

DFNL: Cost 50, Risk 67, Mission not scored, Tradability 64, Holdings 32, Durability 75. TRUT: Cost 93, Risk 23, Mission not scored, Tradability 96, Holdings 31, Durability 61.
Pillar letters and Scores for DFNL, TRUT, with each pillar’s weight
PillarDFNLTRUT
Cost30% weightC50A93Higher
Mission25% weightNot scoredNot scored
Risk15% weightB67HigherF23
Tradability15% weightB64A96Higher
Holdings10% weightD32HigherD31
Durability5% weightA75HigherB61

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. DFNL and TRUT 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 ›

TRUT ranks 4th 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 2BTMEDT. Rowe Price Health Care ETFScore 70
  4. Rank 4ATRUTVanEck Technology TruSector ETFScore 69
  5. Rank 5BUTESVirtus Reaves Utilities ETFScore 66
  6. Rank 11BUSNGAmplify Samsung U.S. Natural Gas Infrastructure ETFScore 56
  7. Rank 12BDFNLDavis Select Financial ETFScore 55
  8. Rank 13CBYREPrincipal Real Estate Active Opportunities ETFScore 52

Our read on each fund

ETF.net Research

DFNLBDavis Select Financial ETF

TRUTAVanEck Technology TruSector ETF

In short

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.

TRUT Diversification rules force most tech ETFs to trim their biggest names. TRUT's answer: own the giants directly up to the legal line, then top up with sector ETFs so the portfolio mirrors the sector's real shape.

Stated mandate

DFNL The Fund seeks long-term growth of capital.

TRUT The Fund seeks long-term capital appreciation through active investment in securities of information technology-related companies or instruments providing exposure to them.

Why people hold it

  • 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
  • TRUT The mechanism is the point. Fund rules cap one stock at 25% and stocks above 5% at 50% combined; TRUT fills the gap with targeted sector ETFs instead of overweighting smaller names.vaneck.comvaneck.com 2
  • 0.14% a year for an actively managed fund, against a median near 0.65% across active US equity peers. Cheap enough to sit alongside index products.
  • One of the two originals in VanEck's TruSector line, launched in 2025. The approach has since been extended across all 11 GICS sectors.vaneck.comvaneck.com 2
  • About 80 positions, quarterly distributions, and steady day-to-day trading. On cost and tradability it lands in the upper tier of its active US equity cohort.

Worth knowing

  • 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.
  • TRUT Part of the exposure arrives through other ETFs rather than shares the fund holds outright. That is the workaround that makes uncapped weights possible, and it adds a layer.vaneck.com
  • Uncapped means concentrated. Leaning fully into tech's largest companies ties results to a handful of mega-caps more tightly than a capped sector fund would.vaneck.com
  • Launched August 2025, so there is only a short record of how closely the hybrid build actually shadows an uncapped tech benchmark.

Full DFNL profile⁠

Full TRUT profile⁠

DFNL vs TRUT 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.

DFNL vs TRUT Cost

Overpaying DFNL vs TRUT

$9,066

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

  • DFNL 0.61%

    $11,998

  • TRUT 0.14%

    $2,932

$10,000
30 years

Cost over time

  • DFNL 0.61%
  • TRUT 0.14%
  • 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 $11,998TRUT $2,932

Year by year

YearDFNLTRUTOverpaying
10$1,093$256$837
20$4,181$1,000$3,181
30$11,998$2,932$9,066

Expense ratio

  • 0.61%DFNL
  • 0.14%TRUT, cheaper
  • Middle half of US Active Sector funds
  • Median 0.61%

TRUT 3rd cheapest of 35 funds

DFNL 18th cheapest of 35 funds

DFNL vs TRUT Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
DFNL 1.32%, better
TRUT 0.35%
Payout (12M)
DFNL $0.66
TRUT $0.11
Last payment
DFNL $0.66
TRUT $0.03
Ex-dividend
DFNL Dec 29, 2025
TRUT Oct 1, 2026
Paid on
DFNL Dec 30, 2025
TRUT Oct 6, 2026
Frequency
DFNL Annual
TRUT Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

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
TRUTQuarterly · 5 paymentsAll TRUT payments⁠
One bar per payment. 5 payments from 2017 to 2026 YTD. Oct 1, 2025 $0.01; Dec 29, 2025 $0.02; Apr 1, 2026 $0.03; Jul 1, 2026 $0.03; Oct 1, 2026 $0.03. Use the arrow keys to read each point.$0$12017202020232026YTD

DFNL vs TRUT Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
DFNL 15.0%TRUT 26.8%since Sep 2025
Return per unit of riskSharpe ratio, 3 years
DFNL 1.36TRUT 0.78since Sep 2025
Worst fallMax drawdown, 5 years
DFNL −26.3%TRUT −18.6%since Aug 2025
Market sensitivityBeta, 5 years
DFNL 0.84TRUT 1.76

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