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DFNL vs. EUFN
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DFNL vs. EUFN

Last updated Aug 2, 2026
Documentation

DFNL (Davis Select Financial ETF) and EUFN (iShares MSCI Europe Financials ETF) are both Financials Equities funds. DFNL is actively managed, while EUFN is passively managed. Over the past 5 years, DFNL returned 14.05%/yr vs 21.90%/yr for EUFN. Their 0.74 correlation means they have sometimes moved together and sometimes differently. DFNL charges 0.64%/yr vs 0.49%/yr for EUFN.

Performance

DFNL vs. EUFN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Davis Select Financial ETF (DFNL) and iShares MSCI Europe Financials ETF (EUFN). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, DFNL achieves a 6.12% return, which is significantly lower than EUFN's 15.76% return.

DFNL

1D
0.18%
1M
1.36%
6M
6.88%
YTD
6.12%
1Y
22.75%
3Y*
23.47%
5Y*
14.05%
10Y*
—
ALL TIME*
12.61%

EUFN

1D
-0.05%
1M
4.57%
6M
12.34%
YTD
15.76%
1Y
37.30%
3Y*
34.07%
5Y*
21.90%
10Y*
14.87%
ALL TIME*
7.77%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

DFNL

Davis Select Financial ETF
$3.69M$3.03M$2.46M

EUFN

iShares MSCI Europe Financials ETF
$57.65M$60.11M$50.38M

DFNL vs. EUFN - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DFNL
Davis Select Financial ETF		6.12%28.59%28.56%14.45%-8.45%31.25%-4.97%27.37%-11.59%20.34%
EUFN
iShares MSCI Europe Financials ETF		15.76%65.73%17.20%26.15%-8.78%19.13%-8.55%20.73%-23.14%24.58%

Correlation

The correlation between DFNL and EUFN is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.66

Correlation (3Y)
Balances recent behavior with more history.

0.66

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.73

Correlation (All Time)
Calculated using the full available price history since Jan 12, 2017

0.74

The correlation between DFNL and EUFN has been stable across timeframes, ranging from 0.66 to 0.74 - a consistent structural relationship.

DFNL vs. EUFN - Sectors Allocation Comparison

Sectors
DFNL
EUFN

Financial Services

93.7%
98.1%

Technology

3.0%
0.9%

Industrials

2.4%
0.4%

Consumer Cyclical

0.9%
0.2%

Basic Materials

-

-

Communication Services

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Real Estate

-

-

Utilities

-

-

Financial Services

DFNL
93.7%
EUFN
98.1%

Technology

DFNL
3.0%
EUFN
0.9%

Industrials

DFNL
2.4%
EUFN
0.4%

Consumer Cyclical

DFNL
0.9%
EUFN
0.2%

Basic Materials

DFNL

-

EUFN

-

Communication Services

DFNL

-

EUFN

-

Consumer Defensive

DFNL

-

EUFN

-

Energy

DFNL

-

EUFN

-

Healthcare

DFNL

-

EUFN

-

Real Estate

DFNL

-

EUFN

-

Utilities

DFNL

-

EUFN

-

Compare stocks, funds, or ETFs

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Davis Select Financial ETF

iShares MSCI Europe Financials ETF

Often compared with DFNL:
DFNL vs. VFHDFNL vs. FLBLDFNL vs. FTXODFNL vs. XLFDFNL vs. BPAYDFNL vs. SPMODFNL vs. TIME
Often compared with EUFN:
EUFN vs. XLFEUFN vs. FDDEUFN vs. GSIBEUFN vs. SPYEUFN vs. EURLEUFN vs. EIRLEUFN vs. IEUR

Return for Risk

DFNL vs. EUFN — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
DFNL
DFNL Risk / Return Rank: 5252
Overall Rank
DFNL Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
DFNL Sortino Ratio Rank: 5858
Sortino Ratio Rank
DFNL Omega Ratio Rank: 5656
Omega Ratio Rank
DFNL Calmar Ratio Rank: 4545
Calmar Ratio Rank
DFNL Martin Ratio Rank: 4343
Martin Ratio Rank
EUFN
EUFN Risk / Return Rank: 7474
Overall Rank
EUFN Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
EUFN Sortino Ratio Rank: 7878
Sortino Ratio Rank
EUFN Omega Ratio Rank: 7272
Omega Ratio Rank
EUFN Calmar Ratio Rank: 7171
Calmar Ratio Rank
EUFN Martin Ratio Rank: 7070
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DFNL vs. EUFN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Davis Select Financial ETF (DFNL) and iShares MSCI Europe Financials ETF (EUFN). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

DFNLEUFNDifference
Sharpe ratioReturn per unit of total volatility
1.42
1.76

-0.34

Sortino ratioReturn per unit of downside risk
2.00
2.50

-0.50

Omega ratioGain probability vs. loss probability

1.25

1.30

-0.05

Calmar ratioReturn relative to maximum drawdown

1.63

2.43

-0.81

Martin ratioReturn relative to average drawdown

4.62

8.55

-3.93

DFNL vs. EUFN - Sharpe Ratio Comparison

The current DFNL Sharpe Ratio is 1.42, which is comparable to the EUFN Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of DFNL and EUFN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

DFNL vs. EUFN - Drawdown Comparison

The maximum DFNL drawdown since its inception was -44.51%, smaller than the maximum EUFN drawdown of -53.25%. Use the drawdown chart below to compare losses from any high point for DFNL and EUFN.

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Drawdown Indicators

DFNLEUFNDifference

Max Drawdown

Largest peak-to-trough decline

-44.51%

-53.25%

+8.74%

Max Drawdown (1Y)

Largest decline over 1 year

-12.94%

-14.77%

+1.83%

Max Drawdown (3Y)

Largest decline over 3 years

-16.05%

-15.95%

-0.10%

Max Drawdown (5Y)

Largest decline over 5 years

-26.27%

-35.15%

+8.88%

Max Drawdown (10Y)

Largest decline over 10 years

—

-53.25%

—

Current Drawdown

Current decline from peak

-1.33%

-0.05%

-1.28%

Average Drawdown

Average peak-to-trough decline

-7.57%

-14.42%

+6.85%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.55%

4.20%

+0.35%

Volatility

DFNL vs. EUFN - Volatility Comparison

The current volatility for Davis Select Financial ETF (DFNL) is 4.10%, while iShares MSCI Europe Financials ETF (EUFN) has a volatility of 6.32%. This indicates that DFNL experiences smaller price fluctuations and is considered to be less risky than EUFN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DFNLEUFNDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.10%

6.32%

-2.22%

Volatility (6M)

Calculated over the trailing 6-month period

11.47%

17.74%

-6.27%

Volatility (1Y)

Calculated over the trailing 1-year period

14.86%

20.39%

-5.53%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.12%

21.81%

-2.69%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.50%

23.71%

-1.21%

DFNL vs. EUFN - Expense Ratio Comparison

DFNL has a 0.64% expense ratio, which is higher than EUFN's 0.49% expense ratio.

Dividends

DFNL vs. EUFN - Dividend Comparison

DFNL's dividend yield for the trailing twelve months is around 1.29%, less than EUFN's 3.96% yield.

PositionTTM20252024202320222021202020192018201720162015
DFNL
Davis Select Financial ETF		1.29%1.37%2.19%2.33%3.34%2.45%1.45%2.52%3.12%1.10%0.00%0.00%
EUFN
iShares MSCI Europe Financials ETF		3.96%3.57%5.36%5.00%4.24%4.15%1.38%4.55%6.48%3.04%4.03%3.65%

Frequently Asked Questions

DFNL and EUFN have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EUFN has higher volatility (6.32%) compared to DFNL (4.10%). In terms of maximum drawdown, DFNL dropped -44.51% vs EUFN's -53.25%.

On 5-year performance, EUFN leads with 21.90% vs 14.05% for DFNL. On fees, EUFN is cheaper at 0.49% per year. On volatility, DFNL has been the lower-risk option at 4.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, EUFN has performed better with a 21.90% return vs 14.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EUFN is cheaper with a 0.49% expense ratio, compared with 0.64% for DFNL.

EUFN has the higher dividend yield at 3.96%, compared with 1.29% for DFNL.

They also come from different issuers: Davis and iShares. Their fees differ too: 0.64% for DFNL and 0.49% for EUFN.

EUFN currently has the higher Sharpe Ratio (1.76 vs 1.42), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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