DFNL vs VTI
Davis Select Financial ETF vs Vanguard Morningstar Total Stock Market ETF
Which is better, DFNL or VTI?
Large Cap Value against Large Cap Blend.
VTI has a lower expense ratio. DFNL led over 3Y, VTI over 1Y, 5Y and the full window. VTI is less concentrated, with 33.3% of the fund in its ten largest positions against 56.4%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | DFNL | VTI |
|---|---|---|
| Expense Ratio | 0.61% | 0.03%Best |
| AUM | $443M | $690.1B |
| Dividend Yield | 1.28% | 1.03% |
| Holdings | 90 | 3,524 |
| YTD Return | +0.24% | +14.35%Best |
| 1Y Return | +10.66% | +17.97%Best |
| 3Y Return (annualized) | +23.17%Best | +22.47% |
| 5Y Return (annualized) | +11.26% | +12.62%Best |
| Volatility (annualized) | 19.8% | 16.0%Best |
| Max Drawdown | -44.5% | -35.0%Best |
| $10,000 over 5 years | $17,049 | $18,117Best |
| Top 10 Weight | 56.4% | 33.3%Best |
| Fund Family | Davis ETFs | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Jan 11, 2017 | May 24, 2001 |
Volatility and max drawdown are measured over the window both funds cover: Jan 12, 2017 to Oct 13, 2026 (9.7 years).
DFNL vs VTI growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 9.7 years both funds cover.
DFNL vs VTI Performance
Davis Select Financial ETF (DFNL) is an ETF from Davis ETFs and Vanguard Morningstar Total Stock Market ETF (VTI) is an ETF from Vanguard (US). Over the past year DFNL returned +10.66% while VTI returned +17.97%. Year to date, DFNL is up 0.24% versus a gain of 14.35% for VTI.
Over three years, DFNL compounded at +23.17% per year against +22.47% for VTI; over five years the annualized figures are +11.26% and +12.62% respectively. Across the full 10-year window we track, VTI has the edge at +13.81% annualized vs +11.39%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DFNL has been the more volatile fund, with annualized monthly volatility of 19.8% compared with 16.0% for VTI. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -44.5% for DFNL and -35.0% for VTI. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
DFNL charges 0.61% per year while VTI charges 0.03%. On a $10,000 position that is $61 vs $3 annually, a gap of $58 per year that compounds over a long holding period. On income, DFNL currently yields 1.28% against 1.03% for VTI.
Holdings Overlap
81.9% of DFNL's money is in holdings VTI also owns. 5.3% of VTI's money is in holdings DFNL also owns.
Most of DFNL is already inside VTI. Owning both mostly buys the same companies twice.
The two holdings books were reported 46 days apart, DFNL as of Sep 15, 2026 and VTI as of Jul 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
22 positions in common, counted across the 30 positions we hold weights for in DFNL and 3,463 in VTI, against full books of 90 and 3,524.
What only one of them owns
Our book lists 1,128 positions for VTI that do not appear in our book for DFNL (92.2% of the fund), and 1 for DFNL that do not appear in VTI (1.9%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in DFNL | Weight in VTI | Difference |
|---|---|---|---|
| COFCapital One Financial Corp. | 10.58% | 0.18% | 10.40% |
| BRK.BBerkshire Hathaway Inc Brk/B Us Equity | 5.27% | 1.28% | 3.99% |
| USBUS Bancorp | 6.35% | 0.14% | 6.21% |
| FITBFifth Third Bancorp | 5.82% | 0.07% | 5.75% |
| JPMJpmorgan Chase | 4.45% | 1.31% | 3.14% |
| MKLMarkel Group Inc | 5.53% | 0.07% | 5.46% |
| WFCWells Fargo & Co. | 4.99% | 0.37% | 4.62% |
| PNCPnc Financial Services Group Inc. | 4.56% | 0.14% | 4.42% |
| CBChubb Ltd. | 4.35% | 0.17% | 4.18% |
| AXPAmerican Express Co. | 3.25% | 0.25% | 3.00% |
81.9% of DFNL is already inside VTI.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, DFNL or VTI?
DFNL has an expense ratio of 0.61% while VTI charges 0.03%. VTI is the cheaper option, by $58 a year on a $10,000 investment.
Which performed better, DFNL or VTI?
Over the past year DFNL returned +10.66% vs +17.97% for VTI, so VTI leads on 1-year performance. Over the longest common window we track (10 years), DFNL annualized +11.39% vs +13.81% for VTI. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DFNL or VTI?
DFNL has been the more volatile fund at 19.8% annualized versus 16.0% for VTI. Worst drawdown: DFNL -44.5% vs VTI -35.0%.
Should I hold both DFNL and VTI?
DFNL and VTI have a monthly-return correlation of 0.81, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between DFNL and VTI?
81.9% of DFNL's money is in holdings VTI also owns. 5.3% of VTI's is in holdings DFNL also owns. They hold 22 positions in common, counted across the 30 positions we hold weights for in DFNL and 3,463 in VTI.
Which pays a higher dividend, DFNL or VTI?
DFNL yields 1.28% while VTI yields 1.03%, so DFNL currently pays the higher dividend yield.
Is VTI better than DFNL?
VTI has a lower expense ratio. DFNL led over 3Y, VTI over 1Y, 5Y and the full window. VTI is less concentrated, with 33.3% of the fund in its ten largest positions against 56.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.