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RVNU: An active approach to municipal infrastructure revenue bond investing

The Xtrackers Municipal Infrastructure Revenue Bond Active ETF provides targeted access for taxable investors seeking income, diversification, and infrastructure exposure without the volatility of infrastructure equities.

Pure-play

Infrastructure exposure

Attractive

Tax-efficient income

Competitive

Expense ratio

The Active Advantage in Municipal Infrastructure

For decades, municipal issuers have relied on bond financing to construct and maintain critical public infrastructure. Revenue bonds have been particularly important, providing funding for airports, toll roads, water systems, electric utilities, and other essential assets that support economic activity while generating the cash flows used to repay investors.

The Xtrackers Municipal Infrastructure Revenue Bond Active ETF (RVNU) provides actively managed exposure to this specialized asset class. By combining proprietary research, active portfolio construction, and disciplined trading, RVNU seeks to uncover value, manage risk, and deliver tax-efficient income linked to critical infrastructure assets, making it a prudent option for investors seeking diversification and long-term income potential.

  • Pure-Play Infrastructure Exposure: RVNU is the only ETF that focuses exclusively on municipal infrastructure revenue.
  • Active Portfolio Construction: Enabling managers to express high-conviction ideas while remaining aligned with overall investment objectives.
  • High Credit Quality: RVNU primarily invests in investment grade municipal securities. Over 92% of the portfolio is rated “A” or higher.
  • Attractive Tax-Efficient Income: The portfolio provides federally tax-exempt income and has historically offered compelling tax-equivalent yields for taxable investors.
  • Competitive Cost Structure: RVNU's expense ratio is 0.15%, which compares favorably to competing specialized municipal bond ETFs.

Effective August 4, 2026, the fund converted from a passively managed ETF that tracks the Solactive Municipal Infrastructure Revenue Bond Index to an actively managed ETF that does not track an index. On the effective date, the Fund’s investment objective changed from seeking to track the performance of the Solactive Municipal Infrastructure Revenue Bond Index to seeking to provide income exempt from regular federal income tax. To reflect its new actively managed approach, the fund is renamed Xtrackers Municipal Infrastructure Revenue Bond Active ETF, while its ticker, RVNU, will remain unchanged. The Fund will continue to invest in municipal infrastructure revenue bonds, but its investments will be actively managed by its portfolio managers taking into account various factors.

Discover the Active Advantage to municipal infrastructure investing

 

Click here to download the full Investment Idea.

Hear from Chad Farrington, CFA, Co-Head of DWS Municipal Bond Investment Strategy, as he explores three timely topics in municipal investing: the opportunity in today's market, the advantages of active management, and the vital connection between municipal bonds and America's infrastructure. Through practical insights and real-world examples, Chad highlights how munis can play an important role in investor portfolios.

Credit ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). All Fund securities except for those labeled “Not Rated” and “Other” have been rated by Moody’s, S&P or Fitch, which are each a Nationally Recognized Statistical Rating Organization (“NRSRO”). All Index securities except for those labeled “Not Rated” have been rated by Moody’s or S&P. Credit ratings are subject to change. One cannot invest directly into an index.

111270-2 (9/26) / DBX007575 (09/2027)

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War, terrorism, sanctions, economic uncertainty, trade disputes, public health crises and related geopolitical events have led and, in the future, may lead to significant disruptions in US and world economies and markets, which may lead to increased market volatility and may have significant adverse effects on the fund and its investment.

Diversification does not guarantee against a loss.

Obtain a prospectus
Carefully consider the fund's investment objectives, risk factors, charges and expenses before investing. This and other information can be found in the fund's prospectus. To obtain a mutual fund summary prospectus, if available, or prospectus, call (800) 728-3337 or download one here. To obtain an ETF prospectus call (844) 851-4255 or download one here. Read the prospectus carefully before investing

Investing involves risk including loss of principal. Stocks may decline in value. Bond investments are subject to interest-rate, credit, liquidity, and market risks to varying degrees. When interest rates rise, bond prices generally fall. Credit risk refers to the ability of an issuer to make timely payments of principal and interest. Investing in derivatives entails special risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility. Foreign investing involves greater and different risks than investing in US companies, including currency fluctuations, less liquidity, less developed or less efficient trading markets, lack of comprehensive company information, political instability and differing auditing and legal standards. Emerging markets tend to be more volatile and less liquid than the markets of more mature economies, and generally have less diverse and less mature economic structures and less stable political systems than those of developed countries. Funds investing in a single industry, country or in a limited geographic region generally are more volatile than more diversified funds.  Performance of a fund may diverge from that of an underlying index due to operating expenses, transaction costs, cash flows, use of sampling strategies or operational inefficiencies. There are additional risks associated with investing in high-yield bonds, aggressive growth stocks, non-diversified/concentrated funds and small- and mid-cap stocks which are more fully explained in the prospectuses, as applicable. An investment in any fund should be considered only as a supplement to a complete investment program for those investors willing to accept the risks associated with that fund. Please read the applicable prospectus for more information.

You cannot invest directly in an index. Shares of the Funds/ETFs are bought and sold at market price (not NAV) throughout the day on the Fund’s Primary Listing Exchange. There can be no assurance that an active trading market for shares of a fund will develop or be maintained. Transactions in shares of ETFs will result in Brokerage commissions and will generate tax consequences. There are risks associated with investing, including possible loss of principal.

Shares of the exchange traded funds may be sold throughout the day on the exchange through any brokerage account. However, shares may only be purchased and redeemed directly from the funds by authorized participants in very large creation/redemption units. There is no assurance that an active trading market for shares of an exchange traded fund will develop or be maintained.

The brand DWS represents DWS Group GmbH & Co. KGaA and any of its subsidiaries such as DWS Distributors, Inc., which offers investment products, or DWS Investment Management Americas, Inc. and RREEF America L.L.C., which offer advisory services.

Xtrackers ETFs ("ETFs") are managed by DBX Advisors LLC (the "Adviser"), and distributed by ALPS Distributors, Inc. (“ALPS”). The Adviser is a subsidiary of DWS Group GmbH & Co. KGaA, and is not affiliated with ALPS.

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