Overview

Fund profile

ISIN LU0274211480
Listing date Jan 10, 2007
Share class launch date Jan 10, 2007
Type of investment fund shares Global certificate
UCITS compliant Yes
Fiscal year Jan 01 - Dec 31
Share class currency EUR
Income treatment Capitalizing

Index replication technique

Investment methodology Direct Replication (physically)
Portfolio structure Full Replication
Securities lending Yes*

* Please refer to the section “Securities Lending” for further details. If the details are unavailable, the Sub-Fund has not engaged in securities lending transactions during the previous 30 days.

Fund fees and expenses p.a.

Fund (ETF)
Fund management company fee 0.01 %
Fund fixed fee + 0.08 %
Fund all-in fee (TER) = 0.09 %

Service providers

Issuing company Xtrackers
Fund domicile Luxembourg
Regulatory status A Part 1 fund under the Luxembourg law of 17 December 2010 relating to undertakings for collective investment, as may be amended.
Management company DWS Investment S.A.
Depositary bank State Street Bank International GmbH, Luxembourg Branch
Administrator State Street Bank International GmbH, Luxembourg Branch

Current data

NAV 174.52 EUR
NAV date Jul 11, 2024
Outstanding shares 25,598,543
Total AUM of fund 4.52 B EUR

Registered countries

Austria Luxembourg
Chile Netherlands
Denmark Norway
Finland Portugal
France Spain
Germany Sweden
Ireland Switzerland
Italy United Kingdom

Index description

The DAX® Index aims to reflect the performance of the following market:
  • German blue chip companies listed in EUR on the FWB Frankfurt Stock Exchange
  • 40 largest and most liquid companies
  • weighted by free-float adjusted market capitalisation
  • quarterly index review, largest component is capped at 15%
Additional information on the index, selection and weighting methodology is available at https://www.dax-indices.com

Index key facts

Index name DAX® INDEX
Index provider STOXX Ltd.
Reuters index ticker .GDAXI
Bloomberg index ticker DAX
Industry classification ICB
Index base currency EUR

Source: DWS

as of: Dec 31, 2019

* Note: the country classification shown is based on the securities’ countries of registration, this may differ from the index provider’s classification.

The DAX® INDEX (the “Index”) and the data and trademarks comprised therein are provided by STOXX Ltd., or Qontigo Index GmbH, under a licence. STOXX Ltd. and Qontigo Index GmbH have not been involved in any way in the creation of any reported information and do not give any warranty and exclude any liability whatsoever (whether in negligence or otherwise) – including without limitation for the accuracy, adequateness, correctness, completeness, timeliness, and fitness for any purpose – with respect to any reported information or in relation to any errors, omissions or interruptions in the Index or its data. Any dissemination or further distribution of any such information pertaining to STOXX Ltd. or Qontigo Index GmbH is prohibited.

MiFID II

From January 3, 2018, on, investment firms which engage in investment services under the Directive 2014/65/EU (Markets in Financial Instruments Directive – „MiFID II“) have to comply with certain new requirements for the distribution of investment funds under the respective national implementation laws in the individual Member States of the European Union.

As part of the new rules, investment firms are required to identify or review and refine, as the case may be, the target market for each financial instrument they distribute. This means that they have to specify the type(s) of client for whose needs, characteristics and objectives the financial instrument is compatible. Further, MiFID II introduces new cost disclosure requirements which aim at increasing cost transparency for investors on a quantitative as well as on a qualitative level. Accordingly, investment firms have to disclose all relevant costs to the client; i.e. those relevant to the investment service and those relevant to the product. The costs have to be aggregated and provided ex-ante (i.e. before the client purchases a product) as well as ex-post, as the case may be, during the lifetime of the investment on at least a yearly basis.

The asset management companies pertaining to DWS support this process by delivering relevant data to the investment firms to enable them to fulfil their new legal obligations. To provide an enhanced level of transparency, the target market and material product cost related MiFID II data are additionally displayed here below with regard to the relevant investment fund.

Important Notes:

The following data is provided on a voluntary basis only and may as such, without further explanations and additional information, i.e. in particular the information contained in the relevant sales documentation of the investment fund (e.g. fund prospectus, KIID) not be sufficient or suitable to assist a potential investor in taking an informed investment decision. It is therefore recommended that investors also carefully read the sales documentation prior to any potential investment decision, and, in particular in case of any questions, consult their investment advisor.

The information on ongoing product costs may deviate from the cost data contained in the relevant sales documentation of the investment fund (e.g. the KIID). The reason for this is that the requirements to display ongoing costs and charges at product level pursuant to the new MiFID II regulations go beyond the existing disclosure regulations applicable to the asset management companies under their relevant regulatory frameworks (i.e. the UCITS Directive or the AIFM Directive and their respective national implementation laws). For example, the estimated transaction costs of an investment fund are not part of the description of the ongoing costs in the relevant KIID established by the management company. Under MiFID II, an investment firm will however have to disclose such costs as part of the costs of the product in good time prior to a potential investor’s investment decision. Thus, the ongoing costs related to the product displayed here below as “total ongoing costs of the product” may, due to differences in the calculation and disclosure methodology, deviate from the sales documentation of the fund.

DWS does not accept any responsibility or liability whatsoever in relation to the data except in case of gross negligence or wilful misconduct.

Target market1

Type of client Retail
Professional
Eligible Counterparty
Knowledge & experience Informed
Basic
Advanced
Ability to bear losses Investor can tolerate losses (up to the total invested amount)
Risk indicator (PRIIPS methodology) 5
Client objectives Growth
Minimum time horizon Long Term (> 5 years)
Sustainability preferences Financial instrument takes into account recognized transparency and industry standard
Minimum proportion invested in environmentally sustainable investments within the meaning of the Taxonomy2 0.00 %
Minimum proportion invested in sustainable investments within the meaning of the SFDR3 0.00 %
Consideration of Principal Adverse Impacts (PAIs) No

Costs & charges

Total ongoing costs of the product 0.106 % p.a.
thereof ongoing costs 0.092 % p.a.
thereof transaction costs 0.014 % p.a.
thereof incidental costs (performance fee)4 0.000 % p.a.

As of: 5/11/2024

  1. A negative Target Market is not classified for this fund. The grey Target Market is not displayed on this site.
  2. Regulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 2020 on the establishment of a framework to facilitate sustainable investment, and amending Regulation (EU) 2019/2088
  3. Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability?related disclosures in the financial services sector
  4. For information on whether a performance fee is agreed in the product, please refer to the investment terms in the sales prospectus. Estimates of performance fees are marked with a higher degree of uncertainty, as the remuneration amount is dependent on the specific performance of the investment in the future. Furthermore, it should be noted that past performance does not predict future returns. Detailed conditions regarding the performance-related remuneration can also differ from fund to fund.

Performance

Source: DWS Jul 11, 2024

Past performance is not a reliable indicator of future results. Performance shown above is net of fund fees and any index replication costs. The prices used for the charts are daily Net Asset Values (NAV) and index closing prices. ETF performance calculation includes reinvested dividends.

How it works: The chart shows the performance of the Net Asset Value (NAV) of the ETF and the corresponding underlying index. The NAV and index chart can be activated by clicking on the blue (index) and red (ETF NAV) buttons above the chart respectively. Placing the mouse over the chart results in a text box displaying the NAV and index values with the corresponding date above the chart. The date can be adjusted with the slider below the chart.

The prices used for the charts are daily Net Asset Values (NAV) and index closing prices. The information on this page is for information purposes only. None of Deutsche Bank or its affiliates or any information provider makes any express or implied warranty of any kind regarding the information on this page. None of Deutsche Bank or its affiliates or the information providers will be liable to anyone for any interruption, inaccuracy, error or omission, regardless of cause, in the information on this page or for any kind of damages as a result.

Performance (%)

From
Jun 2014
to
Jun 2015
From
Jun 2015
to
Jun 2016
From
Jun 2016
to
Jun 2017
From
Jun 2017
to
Jun 2018
From
Jun 2018
to
Jun 2019
From
Jun 2019
to
Jun 2020
From
Jun 2020
to
Jun 2021
From
Jun 2021
to
Jun 2022
From
Jun 2022
to
Jun 2023
From
Jun 2023
to
Jun 2024
Total return (EUR) 11.03 % -11.99 % 26.77 % -0.60 % 0.26 % -1.10 % 25.61 % -18.11 % 25.56 % 12.37 %
Benchmark (EUR) 11.31 % -11.56 % 27.32 % -0.16 % 0.75 % -0.71 % 26.16 % -17.69 % 26.32 % 12.93 %
1y 2y 3y 4y 5y 10y Incept.
Total return (EUR) 16.81 % 19.53 % 5.15 % 9.50 % 7.96 % 6.24 % 5.74 %
Benchmark (EUR) 17.38 % 20.18 % 5.72 % 10.06 % 8.49 % 6.73 % 6.11 %
YTD 1m 3m 6m 1y 2y 3y 4y 5y 10y Incept.
Total return (EUR) 10.14 % 0.88 % 2.84 % 11.51 % 16.81 % 42.87 % 16.26 % 43.76 % 46.67 % 83.24 % 165.78 %
Benchmark (EUR) 10.64 % 0.90 % 3.23 % 12.01 % 17.38 % 44.44 % 18.15 % 46.71 % 50.30 % 91.74 % 182.26 %
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total return (EUR) 2.37 % 9.28 % 6.35 % 12.56 % -19.01 % 24.87 % 3.08 % 15.34 % -12.84 % 19.66 %
Benchmark (EUR) 2.65 % 9.56 % 6.87 % 13.06 % -18.65 % 25.48 % 3.55 % 15.79 % -12.35 % 20.31 %
Tracking difference - -0.28 % -0.52 % -0.50 % -0.36 % -0.61 % -0.47 % -0.45 % -0.49 % -0.65 %

Past performance is not a reliable indicator of future results. Performance shown above is net of fund fees and any index replication costs. ETF performance calculation includes reinvested dividends.

Fund Holdings

Fund portfolio

Security type As of Jul 11, 2024

Currency- & country allocation

Currency weighting equities As of Jul 11, 2024

Country allocation As of Jul 11, 2024

Securities

Symbol
Name
% Weight
Market value
Country
Industry
Asset class
DE0007164600 SAP SE 14.18 % 641.42 M EUR Germany unknown Equity
DE0007236101 SIEMENS AG-REG 10.01 % 453.16 M EUR Germany unknown Equity
DE0008404005 ALLIANZ SE-REG 7.70 % 348.47 M EUR Germany unknown Equity
DE0005557508 DEUTSCHE TELEKOM AG-REG 6.33 % 286.64 M EUR Germany unknown Equity
NL0000235190 AIRBUS SE 5.78 % 261.56 M EUR France unknown Equity
DE0008430026 MUENCHENER RUECKVER AG-REG 4.60 % 208.15 M EUR Germany unknown Equity
DE0007100000 MERCEDES-BENZ GROUP AG 3.52 % 159.38 M EUR Germany unknown Equity
DE0006231004 INFINEON TECHNOLOGIES AG 3.43 % 155.28 M EUR Germany unknown Equity
DE0005552004 DHL GROUP 2.99 % 135.23 M EUR Germany unknown Equity
DE000BASF111 BASF SE 2.93 % 132.63 M EUR Germany unknown Equity
DE000A1EWWW0 ADIDAS AG 2.80 % 126.47 M EUR Germany unknown Equity
DE0005810055 DEUTSCHE BOERSE AG 2.66 % 120.38 M EUR Germany unknown Equity
DE0005140008 DEUTSCHE BANK AG REGISTERED 2.27 % 102.91 M EUR Germany unknown Equity
DE0005190003 BAYERISCHE MOTOREN WERKE AG 2.02 % 91.42 M EUR Germany unknown Equity
DE000BAY0017 BAYER AG-REG 1.95 % 88.16 M EUR Germany unknown Equity
Results 1-15 of 45
Results per Page
Download full securities list

Source: DWS Jul 11, 2024

Index Information

Sector allocation

The DAX® INDEX (the “Index”) and the data and trademarks comprised therein are provided by STOXX Ltd., or Qontigo Index GmbH, under a licence. STOXX Ltd. and Qontigo Index GmbH have not been involved in any way in the creation of any reported information and do not give any warranty and exclude any liability whatsoever (whether in negligence or otherwise) – including without limitation for the accuracy, adequateness, correctness, completeness, timeliness, and fitness for any purpose – with respect to any reported information or in relation to any errors, omissions or interruptions in the Index or its data. Any dissemination or further distribution of any such information pertaining to STOXX Ltd. or Qontigo Index GmbH is prohibited.

Securities Lending

Securities lending data¹

Current percentage on loan 2.33 %
Average daily percentage on loan 2 2.22 %
Collateral value (in % of loan) 100.41 %
Number of securities lending counterparties with exposure exceeding 3% of the Fund's NAV 0
Currently on loan -
Maximum daily percentage on loan 2 4.02 %
Annual securities lending return 3 0.0032 %
  1. All data at Fund level
  2. Based on daily % of fund AuM lent out over the past year or since the fund started securities lending (if less than one year ago)
  3. Based on annual revenue from securities lending divided by average fund AuM over the past year or since the fund started securities lending (if less than one year ago)

Source: DWS Jul 11, 2024

Lending counterparties of last month

Barclays Capital Securities Ltd HSBC Bank Plc
Merrill Lynch International NATIXIS
Societe Generale Unicredit Bank AG

Securities held as collateral

ISIN Name % Weight Country Currency Product type Rating Industry
JP3381000003 NIPPON STEEL CORP 4.79 % Japan JPY Equity A3 unknown
JP3304200003 KOMATSU LTD 4.79 % Japan JPY Equity A2 unknown
JP3854600008 HONDA MOTOR CO LTD 4.79 % Japan JPY Equity A1 unknown
JP3566800003 CENTRAL JAPAN RAILWAY CO 4.79 % Japan JPY Equity Aa3 unknown
JE00BYVQYS01 INTERNATIONAL WORKPLACE GROU 2.89 % United Kingdom GBP Equity - unknown
IE00BYTBXV33 RYANAIR HOLDINGS PLC 2.86 % Ireland EUR Equity - unknown
JP3305530002 COMSYS HOLDINGS CORP 2.57 % Japan JPY Equity - unknown
ES0112501012 EBRO FOODS SA 2.41 % Spain EUR Equity - unknown
IT0004053440 DATALOGIC SPA 2.05 % Italy EUR Equity - unknown
FI0009007900 KESKO OYJ-A SHS 1.77 % Finland EUR Equity - unknown
GB00BNYK8G86 DARKTRACE PLC 1.70 % United Kingdom GBP Equity - unknown
JP3300200007 KONAMI GROUP CORP 1.51 % Japan JPY Equity - unknown
ES0125140A14 ERCROS SA 1.45 % Spain EUR Equity - unknown
JP3841800000 HOKUETSU CORP 1.41 % Japan JPY Equity - unknown
FI0009002943 RAISIO OYJ-V SHS 1.37 % Finland EUR Equity - unknown
Results 1-15 of 184
Results per Page

Collateral breakdown

Security type As of Jul 11, 2024

Equity basket breakdown - 98.95 %

Country allocation As of Jul 11, 2024

Currency weighting equities As of Jul 11, 2024

Sector weighting equities As of Jul 11, 2024

Bond basket breakdown - 1.05 %

Country allocation bonds As of Jul 11, 2024

Currency weighting bonds As of Jul 11, 2024

Bond type[1] As of Jul 11, 2024

1. *Can include convertible bonds

Security credit rating breakdown[1] As of Jul 11, 2024

1. a) Moody's credit rating. b) If Moody's security rating is not available issuer or debt rating is considered. c) If Moody's rating is not available equivalent S&P ratings are considered.

Historical Data

From:
To:

Key Documents

Available Countries

Name Date Type Size

Notice to Shareholders

03/05/2024 – Xtrackers Announcement regarding the Portfolio Turnover Rates New
May 2024 PDF 217.8 KB
15/03/2024 – Xtrackers Annual General Meeting – Proxy Form New
Mar 2024 PDF 171.2 KB
15/03/2024 – Xtrackers Annual General Meeting – Convening Notice New
Mar 2024 PDF 99.9 KB
16/02/2024 – Xtrackers DAX capping increase – Notice to Shareholders New
Feb 2024 PDF 128.3 KB
16/02/2024 – Xtrackers DAX capping increase – Notice to Shareholders New
Feb 2024 PDF 130.8 KB
16/02/2024 – Xtrackers DAX capping increase – Notice to Shareholders New
Feb 2024 PDF 124.8 KB
16/02/2024 – Xtrackers DAX capping increase – Notice to Shareholders New
Feb 2024 PDF 131.2 KB
17/11/2023 – XT1 Changes in Prospectus Definitions - Notice to Shareholders
Nov 2023 PDF 125 KB
09/08/2023 – Xtrackers beneficial owner disclosures – Notice to Shareholders
Aug 2023 PDF 76.6 KB
17/03/2023 – Xtrackers Annual General Meeting – Proxy Form
Mar 2023 PDF 110.2 KB
17/03/2023 – Xtrackers Annual General Meeting – Convening Notice
Mar 2023 PDF 92.3 KB

Reports

Annual Report Xtrackers
Dec 2023 PDF 3.4 MB
Portfolio Turnover Rate FY2023
Dec 2023 PDF 511.6 KB
Semi Annual Report Xtrackers
Jun 2023 PDF 1.3 MB

Offering Documents and Additional Information

KID New
Mar 2024 PDF 86.1 KB
Past performance New
Mar 2024 PDF 86.1 KB
Prospectus Xtrackers New
Mar 2024 PDF 7.2 MB
Glossary
Jan 2024 PDF 188.2 KB
Previous Performance Scenarios
Mar 2023 PDF 42 KB
Articles of Incorporation Xtrackers
May 2020 PDF 190.2 KB

DAX UCITS ETF 1C

Introduction

BEFORE ENTERING THIS WEBSITE, PLEASE READ CAREFULLY THE FOLLOWING IMPORTANT TERMS AND CONDITIONS (THE "TERMS") THAT GOVERN YOUR ACCESS TO, AND USE OF, THIS WEBSITE, AND ACKNOWLEDGE YOUR AGREEMENT TO THEM. IF YOU AGREE TO THE TERMS, CLICK "ACCEPT" AT THE END OF THESE TERMS TO ENTER THIS WEBSITE. IF YOU CLICK "LEAVE PAGE" YOU WILL NOT BE ABLE TO ACCESS THIS WEBSITE. THESE TERMS ARE A BINDING AGREEMENT BETWEEN YOU AND DWS, AND GOVERN YOUR ACCESS AND USE OF THE WEBSITE.

FOR PROFESSIONAL INVESTORS ONLY

THE CONTENT HEREIN IS RESTRICTED TO PROFESSIONAL INVESTORS, SUCH AS BANKS, INVESTMENT ADVISERS, PENSION FUNDS, INVESTMENT FUNDS, INSURANCE COMPANIES AND SIMILAR INSTITUTIONS AND IS NOT INTENDED FOR RETAIL INVESTORS. BY AGREEING TO THESE TERMS THE USER CONFIRMS AND ACKNOWLEDGES THAT HE/SHE IS ACTING IN HIS/HER CAPACITY AS A PROFESSIONAL INVESTOR OR REPRESENTING A PROFESSIONAL INVESTOR AND IS NOT ACTING IN A RETAIL CAPACITY.

ANY ENTITY ENTERING THIS SITE WHO INTENDS TO ACT AS AN INTERMEDIARY AND MAKE FUNDS OR ETC SECURITIES (THE “PRODUCTS”) AVAILABLE TO THIRD PARTY CLIENTS; INTRODUCE PRODUCTS TO THIRD PARTY CLIENTS OR SUBMIT BUSINESS IN RELATION TO A PRODUCT ON BEHALF OF A THIRD PARTY CLIENT’S BEHALF, IN RETURN FOR RECEIPT OF A PAYMENT OR OTHERWISE, SHALL BY ACCEPTING THESE TERMS AND CONDITIONS AND/OR BY ENGAGING IN ANY OF THE AFOREMENTIONED ACTIVITIES IN RELATION TO ANY PRODUCT, BE DEEMED TO HAVE ACCEPTED THE TERMS OF BUSINESS “TERMS OF BUSINESS FOR INTERMEDIARIES” WHICH SHALL BE MADE AVAILABLE UNDER THE HEADING “RISKS AND TERMS” ON THE WEBSITE.

YOU (THE "USER") AGREE NOT TO UNDERTAKE ANY ACT OR OMISSION THAT WOULD CONSTITUTE A BREACH OF THESE TERMS AND REPRESENT AND WARRANT THAT YOU ARE LEGALLY PERMITTED TO ACCESS AND USE THE WEBSITE.

Any reference to “DWS” on this website or in these Terms shall, unless otherwise required by the context, be understood as a reference to DWS Group GmbH & Co. KGaA and/or its affiliates and, as the case may be, any investment companies promoted or managed by any of those entities.


THIS WEBSITE IS PROVIDED BY DWS INTERNATIONAL GMBH  EITHER (I) ON ITS OWN BEHALF IN ITS CAPACITY AS DISTRIBUTOR OF THE PRODUCTS REFERRED TO ON THIS WEBSITE, (II) ON BEHALF OF DWS INVESTMENT S.A., ACTING IN ITS CAPACITY AS MANAGEMENT COMPANY OF CERTAIN FUNDS REFERRED TO ON THIS WEBSITE, OR (III) ON BEHALF OF DB ETC PLC, XTRACKERS ETC PLC, XTRACKERS (JERSEY) ETC PLC AND XTRACKERS DIGITAL MARKETS ETC AG AS ISSUERS OF ETC SECURITIES. EACH OF THESE ENTITIES MAY BE RESPONSIBLE FOR THE WEBSITE'S CONTENT AND ANY OF THE FUNDS, ETC SECURITIES AND SERVICES (INCLUDING FINANCIAL INSTRUMENTS) DESCRIBED (TOGETHER "THE WEBSITE").

ACCESS TO PRODUCTS AND SERVICES DISPLAYED ON THIS WEBSITE AND LINKED SITES HEREAFTER MAY BE RESTRICTED TO CERTAIN PERSONS OR IN CERTAIN COUNTRIES. PRODUCTS SHOWN ON THESE SITES SHALL NOT BE OFFERED OR SOLD TO ANY PERSONS PROHIBITED BY THE LAW IN THEIR COUNTRY OF ORIGIN OR IN ANY OTHER RELEVANT COUNTRY. COUNTRY SPECIFIC SITES LISTED ON THE PREVIOUS WEBPAGE MAY ONLY BE ACCESSED BY READERS OF THESE TERMS WHO ARE PERMANENTLY RESIDENT IN THE RELEVANT COUNTRY AND LEGALLY PERMITTED TO LOG ON TO THE RELEVANT PAGES. IN PARTICULAR U.S. PERSONS AND PERSONS RESIDENT IN OTHER COUNTRIES NOT DISPLAYED IN THE LIST ON THE PREVIOUS WEBPAGE ARE FORBIDDEN FROM VIEWING FURTHER PAGES. BY SELECTING A COUNTRY FROM THE LIST ON THE PREVIOUS WEBPAGE YOU HEREBY AFFIRM THAT YOU ARE A RESIDENT OF THAT COUNTRY. DWS SPECIFICALLY ASSUMES NO RESPONSIBILITY WHATSOEVER FOR THE DISTRIBUTION OF CONTENT OF THE WEBSITE TO INDIVIDUALS OR ENTITIES WHICH PROVIDE FALSE INFORMATION REGARDING THEIR COUNTRY OF LEGAL RESIDENCE.

THESE MATERIALS AND ANY PRODUCTS DESCRIBED ON THIS WEBSITE ARE NOT BEING OFFERED OR TARGETED TO U.S. PERSONS.

No offer

Nothing contained on this Website should be considered as an offer to purchase any of the Products. Consequently, the information on this Website does not constitute, and may not be used for the purposes of, an offer to acquire or sell any fund shares or ETC securities to any person in any jurisdiction. Pricing levels and valuations published on this Website are indicative and they and other information displayed on this Website are for information purposes only.

No investment advice

Information made available on this Website should not be considered as legal, tax, investment or securities advice or any form of recommendation to purchase Products or services described on this website or any opinion regarding the appropriateness of any investment. You should seek professional advice on all of the foregoing before making any investment decision.

Decisiveness of Prospectus, Supplement, Key Investor Information Document, Key Information Document or other applicable offering document (“Offering Documents”)

Offering Documents referring to a specific fund (including sub-funds) or ETC security are available on this Website. Users should carefully read the information contained in such documents (including the latest version of the Key Investor Information Document or Key Information Document) before making any investment decision.

Historical performance

Past performance information (either actual or simulated) contained on this Website is not a reliable indicator of future results.

No warranties for contents

Although best efforts have been used to ensure that the information set out on this Website is reliable, no warranty is made as to its accuracy, completeness and adequacy. Any opinions expressed reflect the current view of DWS, in its capacity as distributor, which may change without notice.

Use of the Website

DWS reserves the right to partly or completely change the Website at any time and to restrict, interrupt or terminate its service.

Changes of Terms 

DWS reserves the right to modify or amend these Terms at any time. DWS invites you to consult these terms and conditions from time to time to familiarise yourself with the changes.

Copyright

Content and design of the Website are the property of DWS and are protected by copyright. Any copying, publication, reproduction, distribution, re-transmission, assigning or use of any portion of the Website or of its content requires the prior written consent of DWS.

Privacy and Cookies 

DWS respects your privacy. Personal data collected when visiting this website are processed in accordance with applicable data protection law.
You agree that where you provide your name and contact details and request information on our products, we may send you such information, including by e-mail. You can ask us at any time to stop sending such information.

By entering this website, you acknowledge and agree that DWS may place cookies on the device via which you access the site. These cookies are either strictly necessary to provide you with the services you have requested or to give us anonymised data about your use of our websites. This includes details such as the website from which you accessed our website, the duration of your visit and the pages you viewed. Such information, which will not include your name, helps us improve the performance and content of our websites. It also records (for up to a maximum of one year) which country you are interested in, and whether as a retail or professional investor. You can block or delete cookies from your computer - simply refer to the help function of your browser.

Please also read the section “Privacy Policy” and “Cookie Information” under the heading "DWS Privacy Notice" on the Website for more information.

Safety of Communication

Communications over the Internet and by e-mail cannot be guaranteed to be secure. There is a risk that information contained within an e-mail communication and any attachment thereto, including potentially confidential information, may be intercepted, lost, destroyed or delayed in transmission. Although DWS will use reasonable efforts to minimise such risk, it does not warrant that any communication or e-mail or any attachments thereto, that is sent out, will be free from viruses, worms or other harmful components.

Telephone recording

Telephone calls to DWS may be recorded for training and monitoring purposes and to comply with applicable law and regulations. Such telephone recordings are the property of DWS.

Hyperlinks

Certain hypertext links on the Website may lead the User to websites that are not under the control or charge of DWS. DWS is not responsible with respect to any material contained in or conducted through any such external websites.

Governing Law; Jurisdiction

These terms and any non-contractual obligations arising out of or in connection with them are exclusively governed by and shall be construed in accordance with the laws of Germany.

Other agreements

If at any time any provision (or part of any provision) of these Terms is, or becomes, illegal, invalid or unenforceable in any respect under the law of any jurisdiction, that shall not affect the legality, validity or enforceability in that or any other jurisdiction of any other provision (or any other part of this provision) of these Terms.

Selling restrictions

The Products described on this Website are not eligible for sale in all countries. The Offering Documents contain information as to the selling restrictions applicable to any particular Product and the User should read them carefully.

In particular, the following restrictions apply: 

Residents of the United States of America:

The information set out on this Website is not directed to the United States. U.S. persons (as defined in Regulation S under the U.S. Securities Act 1933) and persons resident in the U.S. may not enter the Website. Information from this Website may not be distributed or redistributed into the United States or into any jurisdiction where it is not permitted. Any Products described on this Website have not been and will not be registered under the U.S. Securities Act of 1933 as amended and trading in the securities has not been approved for purposes of the U.S. Commodities Exchange Act of 1936. The Products may not be offered or sold in the United States, to U.S. persons or U.S. residents.

The Products described on this Website are only offered or sold to persons in any other jurisdiction, if applicable law permits this.

Important Information regarding the second Shareholder Rights Directive (SRD II)

Based on the second shareholder rights directive (SRD II) asset managers have to disclose certain information. Below is the summary of where to find certain information:

  • Engagement policy and report incl. voting, and use of proxy advisors, securities lending policy and conflicts of interest see section Solutions / ESG on www.dws.com. Integration policy incl. information on investment decision can be found here as well.
  • Once available, information on portfolio turnover can be found in the 'Reports and Accounts' section of the website.
  • Information on the portfolio composition and the turnover costs will be published in the annual report of the respective fund.

 

Information on the key material medium to long-term risks associated with the investments are as follow:

Equities listed in the European Economic Area (EEA) are subject to various material mid- and long term risks. The key risks include:

  • Political tensions and developments within and between countries as well as regions (e.g. trade conflicts, controversial policy actions by governments and regulators)
  • Macroeconomic risks such as debt crisis, recession and excessive inflation or deflation
  • Significant mid/ long term price volatility in equity, currency, bond and commodity markets
  • Idiosyncratic risks of single equities or segments (e.g. fraud, obsolete business models, corporate governance matters)
  • Declining liquidity in market segments or single stocks (e.g. significant price discounts)
  • Other risks which have the potential to disrupt the equity markets including but not limited to natural disasters, epidemics, terrorist attacks and wars

 

The DWS investment decision process enables us to identify risks and return opportunities. Our extensive research resources and teams of experienced professionals continually analyse the relevant markets as well as the political and economic environment. Furthermore, our Strategic CIO View provides a long-term outlook and orientation. In addition, the independent risk function ensures that investment decisions are taken in a disciplined and controlled way.

 

Due to regulatory and legal constraints you are not able to see this information. If you have any questions please contact your normal Sales contact for further information.

CIO View