Fund Evaluator:
Davis Opportunity Y (DGOYX)
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Best Performing in Large Value Over the Last Year
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Fund Details
Davis Opportunity Y Overview
Davis Opportunity Y (DGOYX) is an actively managed U.S. Equity Large Value fund. Davis Funds launched the fund in 1997.
The investment seeks long-term growth of capital. The fund's investment adviser uses the Davis Investment Discipline to invest Davis Opportunity Fund's portfolio principally in common stocks (including indirect holdings of common stock through depositary receipts). It may invest in large, medium or small companies without regard to market capitalization and may invest in issuers in foreign countries, including countries with developed or emerging markets.
About Davis Opportunity Y (DGOYX)
There are 5 members of the management team with an average tenure of 18.81 years: Darin Prozes (2013), Edward Yen (2022), Christopher Davis (1999), Danton Goei (2001), Dwight Blazin (2001). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: S&P 1500 TR USD index with a weighting of 100%. Davis Opportunity Y has 49 securities in its portfolio. The top 10 holdings constitute 44.1% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Davis Opportunity Y is part of the Equity global asset class and is within the U.S. Equity fund group. Davis Opportunity Y has 20.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 74.2%. There is 20.2% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Davis Opportunity Y has 5.6% of the portfolio in cash.
Assets Under Management
The fund has $304 million in total assets, which is below the $1 billion average for the Large Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
DGOYX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Davis Opportunity Y expense ratio is above average compared to funds in the Large Value category. Davis Opportunity Y has an expense ratio of 0.69%, which is 25% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Davis Opportunity Y has a portfolio turnover rate of 18%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 62% for the Large Value category.
Recently, in the month of July 2026, Davis Opportunity Y returned 2.9%, which earned it a grade of C, as the Large Value category had an average return of 2.9%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Davis Opportunity Y has a trailing yield of 0.86%, which is below the 1.20% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Davis Opportunity Y Grades
Year to date, the fund has returned 14.9%, 0.7 percentage points better than the category, which translates into a grade of C. The fund has returned 30.2% over the past year (grade of A), 18.3% over the past three years (grade of A) and 11.2% per year over the past five years (grade of C) and 13.0% per year over the past 10 years (grade of A).
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DGOYX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| DGOYX Return (NAV) | 2.9% | 6.7% | 30.2% | 18.3% | 11.2% | 13.0% |
| DGOYX Grade | C | C | A | A | C | A |
| +/- Category | 0.0% | 0.5% | 6.4% | 2.7% | 0.3% | 1.7% |
| Large Value Avg | 2.9% | 6.2% | 23.8% | 15.7% | 10.9% | 11.3% |
| DGOYX Tax Cost Ratio | na | na | 2.9% | 2.7% | 2.4% | 1.9% |
DGOYX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| DGOYX Return (NAV) | 14.9% | 22.3% | 13.1% | 22.4% | -13.8% | 25.2% | 13.1% | 25.8% | -13.3% | 23.4% | 15.6% |
| DGOYX Grade | C | A | C | A | F | C | A | C | F | A | B |
| +/- Category | 0.7% | 7.2% | -1.0% | 10.6% | -7.8% | -0.5% | 9.2% | 0.1% | -4.8% | 7.0% | 1.0% |
| Large Value Avg | 14.3% | 15.2% | 14.1% | 11.8% | -6.0% | 25.8% | 3.8% | 25.6% | -8.5% | 16.4% | 14.6% |
| Risk Measures | |
| Standard Deviation: | 14.2% |
| Total Risk Index: | 1.16 - Above Average |
| Category Risk Index: | 1.18 - High |
| Category Risk Grade: | F (99% Rank) |
| Beta: | 0.90 |
| R-Squared: | 68% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Value |
| Bond Investment Style: | na |
| Yield: | 0.9% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $668 Mil |
| Fund Total Assets: | $ 305 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 18% |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 27.6 years | |||
| Average Tenure: 18.8 years | |||
| Managers (Year): Davis Christopher (1999), Goei Danton (2001), Blazin Dwight (2001), Prozes Darin (2013), Yen Edward (2022) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 49 |
| % in Top 10 Holdings: | 44.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 20.2% |
Portfolio Allocation |
|
| Domestic Stock: | 74.2% |
| Foreign Stock: | 20.2% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 5.6% |
Purchase Information
| Fund Family: | Davis Funds |
| Phone Number: | 800-279-0279 |
| Website: | www.davisfunds.com |
| Status: | Open |
| Inception Date: | September 18, 1997 |
| Min. Initial Purchase: | $5,000,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.00% |
Expenses and Fees | |
| Expense Ratio (%): | 0.69% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.93% |
| Share Class: | Davis Opportunity A |
| Min. Subsequent Purchase: | $ 25 |
| Min. Subsequent IRA Purchase: | $ 0 |
