DWS is expanding its range of ETFs for short-term bonds and, with the Xtrackers Floating Rate Notes Active UCITS ETF, is offering an innovative solution for investors seeking regular income with manageable risk. The ETF is listed on the German Stock Exchange.

The ETF invests directly in floating rate notes (FRNs) issued in euros or hedged against currency fluctuations in euros. Floating rate notes are bonds issued by companies, financial institutions or governments that offer a variable interest rate. The coupon is adjusted regularly and at short notice to reference interest rates such as Euribor or €STR (Euro Short-Term Rate), at which banks lend money to each other. This gives investors a return that is linked to the current interest rate level but is higher compared to the rate offered by conventional money market instruments. Since the interest rate fixation period of the floating rate notes held in the fund portfolio is only a few months, their prices fluctuate significantly less than those of traditional fixed-income bonds from the same issuers.

The ETF uses the iBoxx EUR FRN Investment Grade 0—3Y Capped Index as its benchmark and aims to outperform the benchmark before costs by using active components.^[1] These include primary market activities, security selection within and outside the benchmark, including selected international FRNs and other bonds with short remaining maturities. The fund management focuses on credit quality in order to minimise default risk.

FRNs can be particularly interesting for longer-term, money market-oriented investments: while interest rates on money market products, for example, show very low price fluctuations with little chance of excess returns, FRNs continue to offer slightly more attractive current income due to the credit premiums of the respective issuers. FRNs may therefore be suitable for investors who want to park liquidity in a yield-oriented manner for the longer term without taking on significant price risks from longer maturities. The credit duration of the reference index is 1.2 years and the historical volatility of the index is approximately 0.30%^[2].

The ETF is offered in an accumulating share class (1C) with a flat fee of 0.12 per cent per annum. "Many investors are currently looking for return opportunities above money market levels without wanting to take on significant interest rate risks. Floating rate notes can be well suited for this purpose because their interest rates are adjusted regularly and price fluctuations remain low," says Simon Klein, Global Head of Xtrackers Sales at DWS. "With our active ETF, we want to make this asset class more accessible to investors and tap into additional sources of return, for example by adding international bonds or participating more actively in the primary market compared to conventional floating rate note ETFs on the market."

Product information

Source: DWS Group GmbH & Co. KGaA, as at 14 January 2026

Risks associated with ETFs include the following:

• The value of ETF shares may be negatively affected by legal, economic or political changes, market volatility and/or volatility of the sub-fund's assets and/or the underlying asset.
• The value of ETF shares may fall below the price at which the investor purchased the fund shares at any time. This may result in losses. The value of ETF shares may be negatively affected by exchange rate fluctuations.
• ETFs are not capital protected. The value of ETF shares may fall as well as rise. Past performance is not a reliable indicator of future performance.
• There is no guarantee that a specific redemption amount will be repaid to investors upon maturity. The redemption amount may be less than the original purchase amount. Investors should be able to bear losses up to the total amount of their investment.

About the DWS Group

With total assets under management of €1,054 billion (as of 30 September 2025), DWS Group (DWS) is a leading asset manager in Europe with a global reach. With approximately 4,900 employees in locations around the world, DWS offers private individuals, institutions and large corporations access to comprehensive investment solutions and tailor-made portfolios across the entire spectrum of investment disciplines. Its broad expertise as an asset manager in active, passive and alternative businesses enables DWS to offer clients targeted solutions in all major liquid and illiquid asset classes.
www.dws.com/de 

This document is an advertising communication. Investors should read the prospectus and the key information document before making an investment decision.´

Important information 

DWS is the brand name under which DWS Group GmbH & Co. KGaA and its subsidiaries conduct their business. The respective legal entities responsible for offering DWS products or services are identified in the relevant documents.

The information contained in this document does not constitute investment advice. Full details of the funds, including all risks and costs, can be found in the current version of the relevant sales prospectus. This prospectus and the "Key Information Document (KID)" are the only binding sales documents for the funds. Investors can obtain these documents, including regulatory information and the current founding documents in German, free of charge in writing from DWS Investment GmbH, Mainzer Landstraße 11-17, 60329 Frankfurt am Main, and, in the case of Luxembourg funds, from DWS Investment S.A., 2, Boulevard Konrad Adenauer, L-1115 Luxembourg, free of charge in written form or electronically in the relevant languages at: www.dws.de for Germany and https://funds.dws.com for Austria and Luxembourg and for passive investments www.etf.dws.com. A summary of investor rights for investors in passive products is available at (Germany – German) https://etf.dws.com/de-de/ueber-uns/umgang-mit-beschwerden-etfs (Austria – German)
https://etf.dws.com/de-at/ueber-uns/umgang-mit-beschwerden-etfs (Luxembourg – English) https://etf.dws.com/en-lu/about-us/how-to-complain-etfs. The management company may decide to withdraw distribution at any time. Forecasts are not a reliable indicator of future performance. Forecasts are based on assumptions, estimates, opinions and hypothetical models or analyses that may prove to be inaccurate or incorrect. Performance is calculated using the BVI (Bundesverband Investment und Asset Management) method, i.e. without taking into account any front-end load. Further tax information is contained in the sales prospectus. Past performance is not a reliable indicator of future performance.

All opinions expressed represent the current assessment of DWS Group GmbH KGaA, which may change without prior notice. This document is an advertising communication and not a financial analysis. Consequently, the information contained in this document does not satisfy all legal requirements to ensure the impartiality of investment recommendations and investment strategy recommendations and is not subject to any prohibition on trading prior to the publication of such recommendations. As explained in the respective sales prospectus, the distribution of the above-mentioned funds is subject to restrictions in certain jurisdictions. This document and the information contained herein may only be distributed or published in countries where this is permitted under the applicable legal provisions. This document may therefore not be distributed directly or indirectly within the USA, to or on behalf of US persons or persons resident in the USA.

Xtrackers® is a registered trademark of the DWS Group

The registered office of Xtrackers (RCS No.: B-119.899), a company registered in Luxembourg, is located at 49, Avenue J.F. Kennedy, L-1855 Luxembourg, Luxembourg

DWS Group GmbH & Co. KGaA, CRC  108 803, 20 January 2026