Prospectus Supplement dated December 19, 2018

Davis Select Financial ETF

Portfolio of Davis Fundamental ETF Trust

Prospectus and Statement of Additional Information dated March 1, 2018

Effective December 31, 2018, Pierce Crosbie will serve as co-Portfolio Manager of Davis Select Financial ETF. The Management section of the Davis Select Financial ETF summary prospectus is replaced with the following.

Management

Investment Adviser. Davis Selected Advisers, L.P. serves as the Fund’s investment adviser.

Sub-Adviser. Davis Selected Advisers–NY, Inc., a wholly owned subsidiary of the Adviser, serves as the Fund’s sub-adviser.

Portfolio Manager	Experience with this Fund	Primary Title with Investment Adviser or Sub-Adviser
Christopher Davis	Since January 2017	Chairman, Davis Selected Advisers, L.P.
Pierce Crosbie	Since December 2018	Vice President, Davis Selected Advisers – NY, Inc.

The following is added to the Portfolio Managers section of the Prospectus.

Pierce Crosbie has served as a Portfolio Manager of Davis Select Financial ETF since December 2018 and also serves as a research analyst for other equity funds advised by Davis Advisors. Mr. Crosbie joined Davis Advisors in 2008.

Statement of Additional Information Supplement dated December 19, 2018

Davis Select Financial ETF

Portfolio of Davis Fundamental ETF Trust

Prospectus and Statement of Additional Information dated March 1, 2018

Effective December 31, 2018, Pierce Crosbie will serve as co-Portfolio Manager of Davis Select Financial ETF. The section of Portfolio Managers is updated with the following information

Davis Select Financial ETF. The portfolio managers of Davis Financial Fund are Christopher Davis and Pierce Crosbie. They are the persons primarily responsible for investing the Fund’s assets on a daily basis.

Accounts Managed as of December 31, 2017

Portfolio Managers	Dollar Range of Fund Shares Owned⁽⁵⁾	Number of RICs⁽²⁾	Assets⁽¹⁾ in RICs in millions	Number of OPIV⁽³⁾	Assets⁽¹⁾ in OPIV⁽³⁾ in millions	Number of OA⁽⁴⁾	Assets in OA⁽⁴⁾ in millions
Davis Select Financial ETF
Christopher Davis	$50,001-$100,000	17	$19,353	9	$1,073	46	$7,986
Pierce Crosbie	None	1	$7,824	0	$0	0	$0

Structure of Compensation

Pierce Crosbie’s and Danton Goei’s compensation for services provided to the Adviser consists of: (i) a base salary; (ii) an annual discretionary bonus; (iii) awards of equity (“Units”) in Davis Selected Advisers, L.P., including Units and/or phantom Units; (iv) an incentive plan whereby the Adviser purchases shares in certain mutual funds managed by the Adviser, which vest based on the passage of time provided that the Portfolio Manager is still employed by the Adviser; and (v) an incentive plan whereby the Adviser purchases shares in selected mutual funds managed by the Adviser. In the case of fund shares purchased as described above in (v), at the end of specified periods, generally five-years following the date of purchase, some, all or none of the Fund shares will be registered in the employee’s name based on Fund performance, after expenses on a pre-tax basis, versus the Fund’s benchmark index, as described in the Fund’s prospectus or, in limited cases, based on performance ranking among established peer groups. The Adviser does not purchase incentive shares in every fund these portfolio managers manage or assist on. In limited cases, such incentive compensation is tied on a memorandum basis to the performance of the portion of the Fund (“sleeve”) managed by the analyst versus the Fund’s benchmark. The Adviser’s portfolio managers are provided benefits packages including life insurance, health insurance, and participation in the Adviser’s 401(k) plan comparable to that received by other company employees.