DFNL vs. BCFN
DFNL (Davis Select Financial ETF) and BCFN (Baron Financials ETF) are both Financials Equities funds. DFNL is actively managed, while BCFN is passively managed. A 0.62 correlation means they provide meaningful diversification when combined. DFNL charges 0.64%/yr vs 0.80%/yr for BCFN.
Performance
DFNL vs. BCFN - Performance Comparison
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Returns By Period
In the year-to-date period, DFNL achieves a -5.82% return, which is significantly higher than BCFN's -17.02% return.
DFNL
- 1D
- -1.60%
- 1M
- -1.94%
- YTD
- -5.82%
- 6M
- -1.79%
- 1Y
- 12.54%
- 3Y*
- 22.23%
- 5Y*
- 10.20%
- 10Y*
- —
BCFN
- 1D
- -2.00%
- 1M
- -4.60%
- YTD
- -17.02%
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DFNL vs. BCFN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DFNL Davis Select Financial ETF | -5.82% | 0.60% |
BCFN Baron Financials ETF | -17.02% | 0.35% |
Correlation
The correlation between DFNL and BCFN is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 16, 2025 | 0.62 |
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Return for Risk
DFNL vs. BCFN — Risk / Return Rank
DFNL
BCFN
DFNL vs. BCFN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Davis Select Financial ETF (DFNL) and Baron Financials ETF (BCFN). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| DFNL | BCFN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.15 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.97 | — | — |
| Martin ratioReturn relative to average drawdown | 2.84 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DFNL | BCFN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.86 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | -1.70 | +2.20 |
Drawdowns
DFNL vs. BCFN - Drawdown Comparison
The maximum DFNL drawdown since its inception was -44.51%, which is greater than BCFN's maximum drawdown of -20.95%. Use the drawdown chart below to compare losses from any high point for DFNL and BCFN.
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Drawdown Indicators
| DFNL | BCFN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.51% | -20.95% | -23.56% |
Max Drawdown (1Y)Largest decline over 1 year | -12.94% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -16.05% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -26.27% | — | — |
Current DrawdownCurrent decline from peak | -8.54% | -19.09% | +10.55% |
Average DrawdownAverage peak-to-trough decline | -7.66% | -12.17% | +4.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.43% | — | — |
Volatility
DFNL vs. BCFN - Volatility Comparison
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Volatility by Period
| DFNL | BCFN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.93% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 11.22% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 14.68% | 19.41% | -4.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.33% | 19.41% | -0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.62% | 19.41% | +3.21% |
DFNL vs. BCFN - Expense Ratio Comparison
DFNL has a 0.64% expense ratio, which is lower than BCFN's 0.80% expense ratio.
Dividends
DFNL vs. BCFN - Dividend Comparison
DFNL's dividend yield for the trailing twelve months is around 1.45%, while BCFN has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BCFN Baron Financials ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
DFNL Davis Select Financial ETF | 1.45% | 1.37% | 2.19% | 2.33% | 3.34% | 2.45% | 1.45% | 2.52% | 3.12% | 1.10% |
Frequently Asked Questions
DFNL and BCFN have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DFNL is cheaper at 0.64% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DFNL is cheaper with a 0.64% expense ratio, compared with 0.80% for BCFN.
DFNL has the higher dividend yield at 1.45%, compared with 0.00% for BCFN.
They also come from different issuers: Davis Advisers and Baron Capital. Their fees differ too: 0.64% for DFNL and 0.80% for BCFN.
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