The Davis Select U.S. Equity ETF (DUSA ) officially surpassed $1 billion in assets under management, marking a significant milestone for the active ETF.
This achievement comes as the fund celebrates nine years of navigating the U.S. large-cap landscape with a high-conviction, benchmark-agnostic approach. At a time when concentration risks in popular indexes are near historic highs, DUSA’s fundamental research offers a distinct alternative for core equity allocations.
DUSA identifies companies with durable business models and attractive valuations, currently holding a streamlined portfolio of just 25 names. This philosophy ensures that capital is only deployed into the firm’s highest-conviction ideas. Furthermore, DUSA’s portfolio companies currently trade at a significant discount compared to broader benchmarks. As of year-end 2025, the fund’s holdings featured a price-to-earnings (P/E) ratio 44% lower than the S&P 500.
DUSA Investor Adoption and the Value Story
The growth of DUSA underscores a broader trend of advisors embracing active management within the efficient ETF wrapper. According to Todd Rosenbluth, head of research at VettaFi, the milestone is a testament to Davis’ background of quality-focused investing.
“Davis has a long heritage of running actively managed funds with a consistent high quality, valuation-focused approach. It is great to see advisors further embrace their ETFs,” Rosenbluth said. “I’m excited to be talking to them in front of a larger audience virtually and the Exchange conference.”
For advisors looking to dive deeper, the Davis team will be sharing how specialized active management can de-risk portfolios at the upcoming Exchange conference in Las Vegas, held March 15–18. Registration for Exchange is open.
Additionally, Chairman and Portfolio Manager Chris Davis will share his perspective on the market and behaviors that lead to investment success during the upcoming webcast How to Find Value and Compound Wealth in Today’s Market on March 3.
As the active ETF space continues to expand, DUSA’s $1 billion mark serves as a bellwether for the core-plus strategies that are increasingly dominating advisor allocations.
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