<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/nport" xmlns:com="http://www.sec.gov/edgar/common" xmlns:ncom="http://www.sec.gov/edgar/nportcommon" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <headerData>
    <submissionType>NPORT-P</submissionType>
    <isConfidential>false</isConfidential>
    <filerInfo>

      <filer>
        <issuerCredentials>
          <cik>0001670310</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>


      <seriesClassInfo>
        <seriesId>S000061340</seriesId>
        <classId>C000198594</classId>
      </seriesClassInfo>


    </filerInfo>
  </headerData>
  <formData>
    <genInfo>
      <regName>Davis Fundamental ETF Trust</regName>
      <regFileNumber>811-23181</regFileNumber>
      <regCik>0001670310</regCik>
      <regLei>254900TFED1P6S2E2805</regLei>
      <regStreet1>2949 E. Elvira Road</regStreet1>
      <regStreet2>Suite 101</regStreet2>
      <regCity>Tucson</regCity>
      <regStateConditional regCountry="US" regState="US-AZ"/>
      <regZipOrPostalCode>85756</regZipOrPostalCode>
      <regPhone>520-806-7600</regPhone>
      <seriesName>Davis Select International ETF</seriesName>
      <seriesId>S000061340</seriesId>
      <seriesLei>254900R1U903GIIQDN94</seriesLei>
      <repPdEnd>2019-10-31</repPdEnd>
      <repPdDate>2019-10-31</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>133637454.250000000000</totAssets>
      <totLiabs>925481.250000000000</totLiabs>
      <netAssets>132711973.000000000000</netAssets>
      <assetsAttrMiscSec>0.000000000000</assetsAttrMiscSec>
      <assetsInvested>0.000000000000</assetsInvested>
      <amtPayOneYrBanksBorr>0.000000000000</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0.000000000000</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0.000000000000</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0.000000000000</amtPayOneYrOther>
      <amtPayAftOneYrBanksBorr>0.000000000000</amtPayAftOneYrBanksBorr>
      <amtPayAftOneYrCtrldComp>0.000000000000</amtPayAftOneYrCtrldComp>
      <amtPayAftOneYrOthAffil>0.000000000000</amtPayAftOneYrOthAffil>
      <amtPayAftOneYrOther>0.000000000000</amtPayAftOneYrOther>
      <delayDeliv>0.000000000000</delayDeliv>
      <standByCommit>0.000000000000</standByCommit>
      <liquidPref>0.000000000000</liquidPref>
      <cshNotRptdInCorD>588.060000000000</cshNotRptdInCorD>
      <isNonCashCollateral>N</isNonCashCollateral>
      <returnInfo>
        <monthlyTotReturns>
          <monthlyTotReturn classId="C000198594" rtn1="-1.73" rtn2="0.97" rtn3="3.2"/>
        </monthlyTotReturns>
        <othMon1 netRealizedGain="-22048.21" netUnrealizedAppr="-2089070.31"/>
        <othMon2 netRealizedGain="258058.46" netUnrealizedAppr="-1723786.94"/>
        <othMon3 netRealizedGain="-1180752.72" netUnrealizedAppr="5162180.32"/>
      </returnInfo>
      <mon1Flow redemption="0" reinvestment="0" sales="1705583.95"/>
      <mon2Flow redemption="0" reinvestment="0" sales="2647978.4"/>
      <mon3Flow redemption="0" reinvestment="0" sales="7936966.8"/>
    </fundInfo>
    <invstOrSecs>
      <invstOrSec>
        <name>NOMURA REPO</name>
        <lei>N/A</lei>
        <title>NOMURA REPO</title>
        <cusip>ARP0LGOX7</cusip>
        <identifiers>
          <other otherDesc="Repurchase Agreement" value="ARP0LGOX7"/>
        </identifiers>
        <balance>1176000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1176000</valUSD>
        <pctVal>0.8861295431</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2019-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.74</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <clearedCentCparty centralCounterparty="Bank of New York Mellon" isCleared="Y"/>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>1.74</repurchaseRt>
          <maturityDt>2019-11-01</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>16490861</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>1199520.02478278</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>AMBS</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUNTRUST REPO</name>
        <lei>N/A</lei>
        <title>SUNTRUST REPO</title>
        <cusip>ARP0LGOY5</cusip>
        <identifiers>
          <other otherDesc="Repurchase Agreement" value="ARP0LGOY5"/>
        </identifiers>
        <balance>4462000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4462000</valUSD>
        <pctVal>3.3621683855</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2019-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.79</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <clearedCentCparty centralCounterparty="Bank of New York Mellon" isCleared="Y"/>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>1.79</repurchaseRt>
          <maturityDt>2019-11-01</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>5234508</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>4551240.24578127</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>AMBS</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IFCS REPO</name>
        <lei>N/A</lei>
        <title>IFCS REPO</title>
        <cusip>ARP0LGP16</cusip>
        <identifiers>
          <other otherDesc="Repurchase Agreement" value="ARP0LGP16"/>
        </identifiers>
        <balance>4462000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4462000</valUSD>
        <pctVal>3.3621683855</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2019-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.79</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <clearedCentCparty centralCounterparty="Bank of New York Mellon" isCleared="Y"/>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>1.79</repurchaseRt>
          <maturityDt>2019-11-01</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>6492.21</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>6499.08353815874</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
            <repurchaseCollateral>
              <principalAmt>5018441.351175</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>4544740.93103732</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>AMBS</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALIBABA GROUP HOLDING SP ADR</name>
        <lei>5493001NTNQJDH60PM02</lei>
        <title>ALIBABA GROUP HOLDING SP ADR</title>
        <cusip>01609W102</cusip>
        <identifiers>
          <isin value="US01609W1027"/>
          <ticker value="BABA"/>
        </identifiers>
        <balance>55362</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9780804.54</valUSD>
        <pctVal>7.3699488591</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AZUL SA ADR</name>
        <lei>549300Z0MWZ57Q9RR205</lei>
        <title>AZUL SA ADR</title>
        <cusip>05501U106</cusip>
        <identifiers>
          <isin value="US05501U1060"/>
          <ticker value="AZUL"/>
        </identifiers>
        <balance>28690</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1118336.2</valUSD>
        <pctVal>0.8426792057</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BAIDU INC   SPON ADR</name>
        <lei>254900AL64IANZYI1E02</lei>
        <title>BAIDU INC   SPON ADR</title>
        <cusip>056752108</cusip>
        <identifiers>
          <isin value="US0567521085"/>
          <ticker value="BIDU"/>
        </identifiers>
        <balance>8880</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>904428</valUSD>
        <pctVal>0.6814969136</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ENCANA CORP</name>
        <lei>CZ72ZHBVKZXQRV3XFE26</lei>
        <title>ENCANA CORP</title>
        <cusip>292505104</cusip>
        <identifiers>
          <isin value="CA2925051047"/>
          <ticker value="ECA"/>
        </identifiers>
        <balance>568480</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2234126.4</valUSD>
        <pctVal>1.6834399712</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANG HOLDINGS LTD   ADR</name>
        <lei>549300CYSMDAD2JBUI20</lei>
        <title>FANG HOLDINGS LTD   ADR ADR</title>
        <cusip>30711Y201</cusip>
        <identifiers>
          <isin value="US30711Y2019"/>
          <ticker value="SFUN"/>
        </identifiers>
        <balance>79886</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>160570.86</valUSD>
        <pctVal>0.1209919922</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DNB ASA</name>
        <lei>5967007LIEEXZX78M803</lei>
        <title>DNB ASA</title>
        <cusip>426330007</cusip>
        <identifiers>
          <isin value="NO0010031479"/>
          <ticker value="DNB"/>
          <other otherDesc="SEDOL" value="4263304"/>
        </identifiers>
        <balance>259276</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.19615"/>
        <valUSD>4711212.8</valUSD>
        <pctVal>3.5499531003</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DANSKE BANK A/S</name>
        <lei>MAES062Z21O4RZ2U7M96</lei>
        <title>DANSKE BANK A/S</title>
        <cusip>458882909</cusip>
        <identifiers>
          <isin value="DK0010274414"/>
          <ticker value="DANSKE"/>
          <other otherDesc="SEDOL" value="4588825"/>
        </identifiers>
        <balance>199893</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="6.6988"/>
        <valUSD>2852118.73</valUSD>
        <pctVal>2.1491043088</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IQIYI INC ADR</name>
        <lei>222100XL8T2Q5B8MS302</lei>
        <title>IQIYI INC ADR</title>
        <cusip>46267X108</cusip>
        <identifiers>
          <isin value="US46267X1081"/>
          <ticker value="IQ"/>
        </identifiers>
        <balance>94249</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1642760.07</valUSD>
        <pctVal>1.2378386312</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JD.COM INC ADR</name>
        <lei>549300HVTWB0GJZ16V92</lei>
        <title>JD.COM INC ADR</title>
        <cusip>47215P106</cusip>
        <identifiers>
          <isin value="US47215P1066"/>
          <ticker value="JD"/>
        </identifiers>
        <balance>206322</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6426930.3</valUSD>
        <pctVal>4.8427659952</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SCHNEIDER ELECTRIC SE</name>
        <lei>969500A1YF1XUYYXS284</lei>
        <title>SCHNEIDER ELECTRIC SE</title>
        <cusip>483410007</cusip>
        <identifiers>
          <isin value="FR0000121972"/>
          <ticker value="SU"/>
          <other otherDesc="SEDOL" value="4834108"/>
        </identifiers>
        <balance>68337</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89662"/>
        <valUSD>6345763.67</valUSD>
        <pctVal>4.7816060048</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DBS GROUP HOLDINGS LTD</name>
        <lei>5493007FKT78NKPM5V55</lei>
        <title>DBS GROUP HOLDINGS LTD</title>
        <cusip>617520903</cusip>
        <identifiers>
          <isin value="SG1L01001701"/>
          <ticker value="D05"/>
          <other otherDesc="SEDOL" value="6175203"/>
        </identifiers>
        <balance>323110</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.36045"/>
        <valUSD>6175059.72</valUSD>
        <pctVal>4.6529786126</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW ORIENTAL EDUC SP ADR</name>
        <lei>529900NHZVBZQZ8EKN29</lei>
        <title>NEW ORIENTAL EDUCATIO SP ADR</title>
        <cusip>647581107</cusip>
        <identifiers>
          <isin value="US6475811070"/>
          <ticker value="EDU"/>
        </identifiers>
        <balance>130531</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15932613.86</valUSD>
        <pctVal>12.0054080275</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOAH HOLDINGS LTD SPON ADS</name>
        <lei>3003008QW3IHPD3NTU41</lei>
        <title>NOAH HOLDINGS LTD SPON ADS</title>
        <cusip>65487X102</cusip>
        <identifiers>
          <isin value="US65487X1028"/>
          <ticker value="NOAH"/>
        </identifiers>
        <balance>61702</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1868953.58</valUSD>
        <pctVal>1.4082780459</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NASPERS LTD N SHS</name>
        <lei>21380044BQ8812EEKT59</lei>
        <title>NASPERS LTD N SHS COMMON STOCK ZAR.02</title>
        <cusip>662269901</cusip>
        <identifiers>
          <isin value="ZAE000015889"/>
          <ticker value="NPNj"/>
          <other otherDesc="SEDOL" value="6622691"/>
        </identifiers>
        <balance>34197</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="15.1105"/>
        <valUSD>4855835.95</valUSD>
        <pctVal>3.6589283094</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOVARTIS AG SPONSORED ADR</name>
        <lei>5493007HIVTX6SY6XD66</lei>
        <title>NOVARTIS AG SPONSORED ADR</title>
        <cusip>66987V109</cusip>
        <identifiers>
          <isin value="US66987V1098"/>
          <ticker value="NVS"/>
        </identifiers>
        <balance>25432</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2223774.08</valUSD>
        <pctVal>1.6756393788</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ROCHE HOLDING AG GENUSSCHEIN</name>
        <lei>549300U41AUUVOAAOB37</lei>
        <title>ROCHE HOLDING AG GENUSSCHEIN</title>
        <cusip>711038901</cusip>
        <identifiers>
          <isin value="CH0012032048"/>
          <ticker value="ROG"/>
          <other otherDesc="SEDOL" value="7110388"/>
        </identifiers>
        <balance>7956</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.9865"/>
        <valUSD>2393655.14</valUSD>
        <pctVal>1.8036467139</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SEVEN GENERATIONS ENERGY   A</name>
        <lei>549300XZHTA2VXQWAL67</lei>
        <title>SEVEN GENERATIONS ENERGY   A</title>
        <cusip>81783Q956</cusip>
        <identifiers>
          <isin value="CA81783Q1054"/>
          <ticker value="VII"/>
          <other otherDesc="SEDOL" value="BRK0MM4"/>
        </identifiers>
        <balance>688153</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.3171"/>
        <valUSD>3855872.1</valUSD>
        <pctVal>2.9054440325</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>YIREN DIGITAL LTD</name>
        <lei>549300GUWSM4NWQXJO64</lei>
        <title>YIREN DIGITAL LTD</title>
        <cusip>98585L100</cusip>
        <identifiers>
          <isin value="US98585L1008"/>
          <ticker value="YRD"/>
        </identifiers>
        <balance>109291</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>707112.77</valUSD>
        <pctVal>0.5328176155</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>METRO BANK PLC</name>
        <lei>213800X5WU57YL9GPK89</lei>
        <title>METRO BANK PLC COMMON STOCK GBP.000001</title>
        <cusip>ACI0L3FD1</cusip>
        <identifiers>
          <isin value="GB00BZ6STL67"/>
          <ticker value="MTRO"/>
          <other otherDesc="SEDOL" value="BZ6STL6"/>
        </identifiers>
        <balance>281193</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.771992"/>
        <valUSD>738685.63</valUSD>
        <pctVal>0.5566081291</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SAFRAN SA</name>
        <lei>969500UIC89GT3UL7L24</lei>
        <title>SAFRAN SA</title>
        <cusip>B058TZ909</cusip>
        <identifiers>
          <isin value="FR0000073272"/>
          <ticker value="SAF"/>
          <other otherDesc="SEDOL" value="B058TZ6"/>
        </identifiers>
        <balance>33039</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89662"/>
        <valUSD>5226943.58</valUSD>
        <pctVal>3.9385621823</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUL AMERICA SA   UNITS</name>
        <lei>N/A</lei>
        <title>SUL AMERICA SA   UNITS</title>
        <cusip>B27WYK907</cusip>
        <identifiers>
          <isin value="BRSULACDAM12"/>
          <ticker value="SULA11"/>
          <other otherDesc="SEDOL" value="B27WYK0"/>
        </identifiers>
        <balance>461100</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.0105"/>
        <valUSD>5552055.6</valUSD>
        <pctVal>4.1835378335</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JULIUS BAER GROUP LTD</name>
        <lei>5299007MF0604ZGJER92</lei>
        <title>JULIUS BAER GROUP LTD</title>
        <cusip>B4R2R5908</cusip>
        <identifiers>
          <isin value="CH0102484968"/>
          <ticker value="JGE"/>
          <other otherDesc="SEDOL" value="B4R2R50"/>
        </identifiers>
        <balance>92621</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.9865"/>
        <valUSD>4086027.29</valUSD>
        <pctVal>3.0788686187</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AIA GROUP LTD</name>
        <lei>ZP5ILWVSYE4LJGMMVD57</lei>
        <title>AIA GROUP LTD COMMON STOCK</title>
        <cusip>B4TX8S909</cusip>
        <identifiers>
          <isin value="HK0000069689"/>
          <ticker value="1299"/>
          <other otherDesc="SEDOL" value="B4TX8S1"/>
        </identifiers>
        <balance>504890</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83595"/>
        <valUSD>5054731.14</valUSD>
        <pctVal>3.8087981255</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BRENNTAG AG</name>
        <lei>NNROIXVWJ7CPSR27SV97</lei>
        <title>BRENNTAG AG</title>
        <cusip>B4YVF5909</cusip>
        <identifiers>
          <isin value="DE000A1DAH00"/>
          <ticker value="BNR"/>
          <other otherDesc="SEDOL" value="B4YVF56"/>
        </identifiers>
        <balance>25900</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89662"/>
        <valUSD>1299881.78</valUSD>
        <pctVal>0.9794758910</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FERGUSON PLC</name>
        <lei>213800DU1LGY3R2S2X42</lei>
        <title>FERGUSON PLC</title>
        <cusip>BJVNSS903</cusip>
        <identifiers>
          <isin value="JE00BJVNSS43"/>
          <ticker value="FERG"/>
          <other otherDesc="SEDOL" value="BJVNSS4"/>
        </identifiers>
        <balance>81755</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.771992"/>
        <valUSD>6974663.34</valUSD>
        <pctVal>5.2554891487</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF N.T. BUTTERFIELD+SON</name>
        <lei>549300V8RVM0EMTDPF28</lei>
        <title>BANK OF N.T. BUTTERFIELD+SON</title>
        <cusip>G0772R208</cusip>
        <identifiers>
          <isin value="BMG0772R2087"/>
          <ticker value="NTB"/>
        </identifiers>
        <balance>133338</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4393487.1</valUSD>
        <pctVal>3.3105431264</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HOLLYSYS AUTOMATION TECHNOLO</name>
        <lei>N/A</lei>
        <title>HOLLYSYS AUTOMATION TECHNOLO</title>
        <cusip>G45667105</cusip>
        <identifiers>
          <isin value="VGG456671053"/>
          <ticker value="HOLI"/>
        </identifiers>
        <balance>282072</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3980035.92</valUSD>
        <pctVal>2.9990029008</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INTERGLOBE AVIATION LTD</name>
        <lei>33580079R8SLLO23XD19</lei>
        <title>INTERGLOBE AVIATION LTD</title>
        <cusip>AC10HQYF9</cusip>
        <identifiers>
          <isin value="INE646L01027"/>
          <ticker value="INDIGO"/>
          <other otherDesc="SEDOL" value="BYYZ7D0"/>
        </identifiers>
        <balance>203296</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="70.92875"/>
        <valUSD>4173474.16</valUSD>
        <pctVal>3.1447608423</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MEITUAN DIANPING CLASS B</name>
        <lei>21380033K525E5JLIA77</lei>
        <title>MEITUAN DIANPING CLASS B</title>
        <cusip>AC114YZ22</cusip>
        <identifiers>
          <isin value="KYG596691041"/>
          <ticker value="3690"/>
          <other otherDesc="SEDOL" value="BGJW376"/>
        </identifiers>
        <balance>416000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83595"/>
        <valUSD>4971751.99</valUSD>
        <pctVal>3.7462723804</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TRIP.COM GROUP LTD ADR</name>
        <lei>2549004RMYDSRQL4KW41</lei>
        <title>TRIP.COM GROUP LTD ADR</title>
        <cusip>89677Q107</cusip>
        <identifiers>
          <isin value="US89677Q1076"/>
          <ticker value="TCOM"/>
        </identifiers>
        <balance>51504</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1699116.96</valUSD>
        <pctVal>1.2803041968</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2019-11-19</ncom:dateSigned>
      <ncom:nameOfApplicant>Davis Fundamental ETF Trust</ncom:nameOfApplicant>
      <ncom:signature>Doug A. Haines</ncom:signature>
      <ncom:signerName>Doug A. Haines</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
