DWS
Multi-Asset Conservative Allocation Fund | ||||||
CLASS/TICKER |
A |
SPDAX |
C |
SPDCX |
S |
SPBAX |
|
|
DWS
Multi-Asset Moderate Allocation Fund | ||||||
CLASS/TICKER |
A |
PLUSX |
C |
PLSCX |
S |
PPLSX |
| |
1 | |
1 | |
2 | |
3 | |
7 | |
8 | |
8 | |
8 | |
8 | |
| |
9 | |
9 | |
10 | |
11 | |
15 | |
16 | |
16 | |
16 | |
16 | |
| |
17 | |
17 | |
25 | |
33 | |
33 | |
35 |
| |
36 | |
40 | |
41 | |
42 | |
42 | |
43 | |
43 | |
48 | |
49 | |
49 | |
50 | |
53 | |
59 | |
59 | |
62 | |
63 | |
63 |
|
A |
C |
S |
Maximum
sales charge (load) imposed on
purchases,
as % of offering price |
|
|
|
Maximum
deferred sales charge (load), as % of
redemption
proceeds1
|
|
|
|
Account
Maintenance Fee (annually, for fund
account
balances below $10,000 and subject to
certain
exceptions) |
$ |
$ |
$ |
|
A |
C |
S |
Management
fee |
|
|
|
Distribution/service
(12b-1) fees |
|
|
|
Other
expenses |
|
|
|
Acquired
funds fees and expenses |
|
|
|
Total
annual fund operating expenses |
|
|
|
Fee
waiver/expense reimbursement |
|
|
|
Total
annual fund operating expenses after fee
waiver/expense
reimbursement |
|
|
|
Prospectus December 1, 2023 | 1 | DWS Multi-Asset Conservative Allocation Fund |
Years |
A |
C |
S |
1 |
$ |
$ |
$ |
3 |
|
|
|
5 |
|
|
|
10 |
|
|
|
Years |
A |
C |
S |
1 |
$ |
$ |
$ |
3 |
|
|
|
5 |
|
|
|
10 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class
Inception |
1
Year |
5
Years |
10
Years |
Class
A before
tax |
|
- |
|
|
After tax
on distribu-
tions |
|
- |
- |
|
After tax
on distribu-
tions and
sale of fund
shares |
|
- |
|
|
Class
C before
tax |
|
- |
|
|
Class
S before
tax |
|
- |
|
|
S&P
Target Risk Conser-
vative
Index (reflects no
deduction for
fees,
expenses or
taxes) |
|
- |
|
|
|
Non-IRA |
IRAs |
UGMAs/
UTMAs |
Automatic
Investment
Plans |
A,
C |
1,000 |
500 |
1,000 |
500 |
S |
2,500 |
1,000 |
1,000 |
1,000 |
Mail |
All
Requests |
DWS
PO Box
219151
Kansas City,
MO 64121-9151 |
Expedited
Mail |
DWS
430 West 7th
Street
Suite
219151
Kansas City,
MO 64105-1407 | |
Web
Site |
dws.com | |
Telephone |
(800)
728-3337, M – F 8 a.m. – 7 p.m. ET | |
Hearing
Impaired |
For hearing
impaired assistance, please
call us using
a relay service |
|
A |
C |
S |
Maximum
sales charge (load) imposed on
purchases,
as % of offering price |
|
|
|
Maximum
deferred sales charge (load), as % of
redemption
proceeds1
|
|
|
|
Account
Maintenance Fee (annually, for fund
account
balances below $10,000 and subject to
certain
exceptions) |
$ |
$ |
$ |
|
A |
C |
S |
Management
fee |
|
|
|
Distribution/service
(12b-1) fees |
|
|
|
Other
expenses |
|
|
|
Acquired
funds fees and expenses |
|
|
|
Total
annual fund operating expenses |
|
|
|
Fee
waiver/expense reimbursement |
|
|
|
Total
annual fund operating expenses after fee
waiver/expense
reimbursement |
|
|
|
Prospectus December 1, 2023 | 9 | DWS Multi-Asset Moderate Allocation Fund |
Years |
A |
C |
S |
1 |
$ |
$ |
$ |
3 |
|
|
|
5 |
|
|
|
10 |
|
|
|
Years |
A |
C |
S |
1 |
$ |
$ |
$ |
3 |
|
|
|
5 |
|
|
|
10 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class
Inception |
1
Year |
5
Years |
10
Years |
Class
A before
tax |
|
- |
|
|
After tax
on distribu-
tions |
|
- |
|
|
After tax
on distribu-
tions and
sale of fund
shares |
|
- |
|
|
Class
C before
tax |
|
- |
|
|
Class
S before
tax |
|
- |
|
|
S&P
Target Risk
Moderate
Index (reflects
no deduction
for fees,
expenses or
taxes) |
|
- |
|
|
|
Non-IRA |
IRAs |
UGMAs/
UTMAs |
Automatic
Investment
Plans |
A,
C |
1,000 |
500 |
1,000 |
500 |
S |
2,500 |
1,000 |
1,000 |
1,000 |
Mail |
All
Requests |
DWS
PO Box
219151
Kansas City,
MO 64121-9151 |
Expedited
Mail |
DWS
430 West 7th
Street
Suite
219151
Kansas City,
MO 64105-1407 | |
Web
Site |
dws.com | |
Telephone |
(800)
728-3337, M – F 8 a.m. – 7 p.m. ET | |
Hearing
Impaired |
For hearing
impaired assistance, please
call us using
a relay service |
Prospectus December 1, 2023 | 17 | Fund Details |
Fund
Name |
Fee
Paid |
DWS
Multi-Asset Conserva-
tive
Allocation Fund |
0.103
% |
DWS
Multi-Asset Moderate
Allocation
Fund |
0.000
%* |
Classes
and features |
Points
to help you compare |
Class
A |
|
◾Sales
charge of up to 5.75%
charged
when you buy shares
◾In
most cases, no charge when
you
sell shares
◾Up
to 0.25% annual share-
holder
servicing fee |
◾Some
investors may be able to
reduce
or eliminate their sales
charge;
see “Class
A Shares”
and
Appendix B
◾Total
annual expenses are
lower
than those for Class C
◾Distributions
are generally
higher
than Class C |
Class
C |
|
◾No
sales charge when you buy
shares
◾Deferred
sales charge of
1.00%,
charged when you sell
shares
you bought within the
last
year
◾0.75%
annual distribution fee
and
up to 0.25% annual share-
holder
servicing fee |
◾Unlike
Class A, Class C does
not
have a sales charge when
buying
shares, but has higher
annual
expenses and a one
year
deferred sales charge
◾Distributions
are generally
lower
than Class A
◾Maximum
investment applies
◾Class
C automatically converts
to
Class A after 8 years,
provided
that records held by
the
fund or your financial inter-
mediary
verify Class C shares
have
been held for at least
8
years |
Class
S |
|
◾No
sales charge when you buy
shares
and no deferred sales
charge
when you sell shares |
◾Total
annual expenses are
lower
than those for Class A
and
Class C
◾Distributions
are generally
higher
than Class A and Class C |
Prospectus December 1, 2023 | 36 | Investing in the Funds |
Your
investment |
Front-end
sales
charge
as %
of
offering price1,2
|
Front-end
sales
charge
as % of your
net
investment2
|
Under
$50,000 |
5.75
% |
6.10
% |
$50,000–$99,999 |
4.50 |
4.71 |
$100,000–$249,999 |
3.50 |
3.63 |
$250,000–$499,999 |
2.60 |
2.67 |
$500,000–$999,999 |
2.00 |
2.04 |
$1
million or more |
see
below3
|
see
below3
|
Year
after you bought shares |
CDSC
on shares you sell |
First
year |
1.00
% |
Second
year and later |
None |
Type |
Address |
Expedited
mail |
|
All
Requests |
DWS
430 West 7th
Street
Suite
219151
Kansas City,
MO 64105-1407 |
Regular
mail |
|
All
Requests |
DWS
P.O. Box
219151
Kansas City,
MO 64121-9151 |
|
Non-IRA |
IRAs |
UGMAs/
UTMAs |
Automatic
Investment
Plans |
A,
C |
1,000 |
500 |
1,000 |
500 |
S |
2,500 |
1,000 |
1,000 |
1,000 |
Class |
Exchanging
into Another Fund ($) |
A,
C |
1,000 minimum
into new non-IRA accounts per
fund
500 minimum
into new IRA accounts per fund
50 minimum
into all existing accounts per fund |
S |
2,500 minimum
into new non-IRA accounts per
fund
1,000 minimum
into new IRA and UTMA/UGMA
accounts per
fund
50 minimum
into all existing accounts per
fund |
Class |
Selling
Shares ($) |
A,
C |
Check
redemption:Up to 100,000. More than
100,000 see
“Signature Guarantee”
Automated
Clearing House (ACH) to your bank:
Minimum 50,
maximum 250,000
Wire
redemption to your bank: Minimum 1,000 |
S |
Same as
Classes A and C |
( |
Total
Assets |
− |
Total
Liabilities |
) |
÷ |
Total
Number of
Shares
Outstanding |
= |
NAV |
Generally
taxed at net capital
gain
rates: |
Generally
taxed at ordinary
income
rates: |
Fund
distributions |
|
◾gains
from the sale of securi-
ties
held (or treated as held)
by
a fund for more than one
year
◾qualified
dividend income |
◾gains
from the sale of securi-
ties
held (or treated as held)
by
a fund for one year or less
◾all
other taxable income |
Transactions
involving fund
shares |
|
◾gains
from selling fund
shares
held for more than
one
year |
◾gains
from selling fund
shares
held for one year or
less |
DWS
Multi-Asset Conservative Allocation Fund — Class
A | |||||
|
Years Ended
August 31, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Selected
Per Share Data | |||||
Net
asset value, beginning of period |
$12.34 |
$15.27 |
$13.97 |
$13.42 |
$13.20 |
Income
(loss) from investment operations: |
|
|
|
|
|
Net
investment incomea |
.29 |
.25 |
.17 |
.23 |
.30 |
Net realized
and unrealized gain (loss) |
.11 |
(2.08
) |
1.67 |
.60 |
.18 |
Total
from investment operations |
.40 |
(1.83
) |
1.84 |
.83 |
.48 |
Less
distributions from: |
|
|
|
|
|
Net
investment income |
(.25
) |
(.26
) |
(.22
) |
(.28
) |
(.26
) |
Net realized
gains |
— |
(.84
) |
(.32
) |
— |
— |
Total
distributions |
(.25
) |
(1.10
) |
(.54
) |
(.28
) |
(.26
) |
Net
asset value, end of period |
$12.49 |
$12.34 |
$15.27 |
$13.97 |
$13.42 |
Total Return
(%)b,c,d |
3.37 |
(12.89
) |
13.46 |
6.38 |
3.69 |
Ratios
to Average Net Assets and Supplemental Data | |||||
Net assets,
end of period ($ millions) |
27 |
29 |
35 |
33 |
35 |
Ratio of
expenses before expense reductions (%)e |
.86 |
.81 |
.79 |
.83 |
.81 |
Ratio of
expenses after expense reductions (%)e |
.73 |
.65 |
.67 |
.62 |
.66 |
Ratio of net
investment income (%) |
2.33 |
1.83 |
1.20 |
1.70 |
2.30 |
Portfolio
turnover rate (%) |
36 |
70 |
39 |
108 |
31 |
a |
Based
on average shares outstanding during the period. |
b |
Total
return does not reflect the effect of any sales
charges. |
c |
Total
return would have been lower had certain expenses not been
reduced. |
d |
Total
return would have been lower if the Advisor had not reduced some
Underlying DWS Funds’ expenses. |
e |
The
Fund invests in other Funds and indirectly bears its proportionate share
of fees and expenses incurred by the Underlying Funds in which the
Fund
is invested. This ratio does not include these indirect fees and
expenses. |
Prospectus December 1, 2023 | 53 | Financial Highlights |
DWS
Multi-Asset Conservative Allocation Fund — Class
C | |||||
|
Years Ended
August 31, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Selected
Per Share Data | |||||
Net
asset value, beginning of period |
$12.33 |
$15.26 |
$13.95 |
$13.41 |
$13.19 |
Income
(loss) from investment operations: |
|
|
|
|
|
Net
investment incomea |
.19 |
.15 |
.07 |
.13 |
.21 |
Net realized
and unrealized gain (loss) |
.12 |
(2.09
) |
1.67 |
.60 |
.17 |
Total
from investment operations |
.31 |
(1.94
) |
1.74 |
.73 |
.38 |
Less
distributions from: |
|
|
|
|
|
Net
investment income |
(.16
) |
(.15
) |
(.11
) |
(.19
) |
(.16
) |
Net realized
gains |
— |
(.84
) |
(.32
) |
— |
— |
Total
distributions |
(.16
) |
(.99
) |
(.43
) |
(.19
) |
(.16
) |
Net
asset value, end of period |
$12.48 |
$12.33 |
$15.26 |
$13.95 |
$13.41 |
Total Return
(%)b,c,d |
2.59 |
(13.55
) |
12.70 |
5.59 |
2.84 |
Ratios
to Average Net Assets and Supplemental Data | |||||
Net assets,
end of period ($ millions) |
1 |
1 |
1 |
2 |
2 |
Ratio of
expenses before expense reductions (%)e |
1.72 |
1.62 |
1.61 |
1.64 |
1.60 |
Ratio of
expenses after expense reductions (%)e |
1.48 |
1.40 |
1.42 |
1.37 |
1.41 |
Ratio of net
investment income (%) |
1.56 |
1.07 |
.48 |
.95 |
1.61 |
Portfolio
turnover rate (%) |
36 |
70 |
39 |
108 |
31 |
a |
Based
on average shares outstanding during the period. |
b |
Total
return does not reflect the effect of any sales
charges. |
c |
Total
return would have been lower had certain expenses not been
reduced. |
d |
Total
return would have been lower if the Advisor had not reduced some
Underlying DWS Funds’ expenses. |
e |
The
Fund invests in other Funds and indirectly bears its proportionate share
of fees and expenses incurred by the Underlying Funds in which the
Fund
is invested. This ratio does not include these indirect fees and
expenses. |
Prospectus December 1, 2023 | 54 | Financial Highlights |
DWS
Multi-Asset Conservative Allocation Fund — Class
S | |||||
|
Years Ended
August 31, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Selected
Per Share Data | |||||
Net
asset value, beginning of period |
$12.32 |
$15.25 |
$13.95 |
$13.40 |
$13.18 |
Income
(loss) from investment operations: |
|
|
|
|
|
Net
investment incomea |
.32 |
.29 |
.21 |
.26 |
.33 |
Net realized
and unrealized gain (loss) |
.11 |
(2.09
) |
1.66 |
.61 |
.18 |
Total
from investment operations |
.43 |
(1.80
) |
1.87 |
.87 |
.51 |
Less
distributions from: |
|
|
|
|
|
Net
investment income |
(.28
) |
(.29
) |
(.25
) |
(.32
) |
(.29
) |
Net realized
gains |
— |
(.84
) |
(.32
) |
— |
— |
Total
distributions |
(.28
) |
(1.13
) |
(.57
) |
(.32
) |
(.29
) |
Net
asset value, end of period |
$12.47 |
$12.32 |
$15.25 |
$13.95 |
$13.40 |
Total Return
(%)b,c |
3.63 |
(12.68
) |
13.76 |
6.65 |
3.96 |
Ratios
to Average Net Assets and Supplemental Data | |||||
Net assets,
end of period ($ millions) |
35 |
39 |
48 |
45 |
46 |
Ratio of
expenses before expense reductions (%)d |
.61 |
.55 |
.53 |
.55 |
.55 |
Ratio of
expenses after expense reductions (%)d |
.48 |
.40 |
.42 |
.37 |
.41 |
Ratio of net
investment income (%) |
2.60 |
2.08 |
1.45 |
1.94 |
2.55 |
Portfolio
turnover rate (%) |
36 |
70 |
39 |
108 |
31 |
a |
Based
on average shares outstanding during the period. |
b |
Total
return would have been lower had certain expenses not been
reduced. |
c |
Total
return would have been lower if the Advisor had not reduced some
Underlying DWS Funds’ expenses. |
d |
The
Fund invests in other Funds and indirectly bears its proportionate share
of fees and expenses incurred by the Underlying Funds in which the
Fund
is invested. This ratio does not include these indirect fees and
expenses. |
Prospectus December 1, 2023 | 55 | Financial Highlights |
DWS
Multi-Asset Moderate Allocation Fund — Class A | |||||
|
Years Ended
August 31, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Selected
Per Share Data | |||||
Net
asset value, beginning of period |
$8.99 |
$11.26 |
$9.78 |
$9.66 |
$10.07 |
Income
(loss) from investment operations: |
|
|
|
|
|
Net
investment incomea |
.18 |
.17 |
.09 |
.13 |
.17 |
Net realized
and unrealized gain (loss) |
.30 |
(1.44
) |
1.81 |
.56 |
(.10
) |
Total
from investment operations |
.48 |
(1.27
) |
1.90 |
.69 |
.07 |
Less
distributions from: |
|
|
|
|
|
Net
investment income |
(.13
) |
(.21
) |
(.08
) |
(.23
) |
(.13
) |
Net realized
gains |
(.12
) |
(.79
) |
(.34
) |
(.34
) |
(.35
) |
Total
distributions |
(.25
) |
(1.00
) |
(.42
) |
(.57
) |
(.48
) |
Net
asset value, end of period |
$9.22 |
$8.99 |
$11.26 |
$9.78 |
$9.66 |
Total Return
(%)b,c,d |
5.61 |
(12.45
) |
20.00 |
7.12 |
1.27 |
Ratios
to Average Net Assets and Supplemental Data | |||||
Net assets,
end of period ($ millions) |
15 |
15 |
19 |
16 |
19 |
Ratio of
expenses before expense reductions (%)e |
1.34 |
1.24 |
1.18 |
1.30 |
1.25 |
Ratio of
expenses after expense reductions (%)e |
.65 |
.60 |
.74 |
.68 |
.70 |
Ratio of net
investment income (%) |
2.06 |
1.71 |
.86 |
1.34 |
1.79 |
Portfolio
turnover rate (%) |
38 |
67 |
39 |
87 |
36 |
a |
Based
on average shares outstanding during the period. |
b |
Total
return does not reflect the effect of any sales
charges. |
c |
Total
return would have been lower had certain expenses not been
reduced. |
d |
Total
return would have been lower if the Advisor had not reduced some
Underlying DWS Funds’ expenses. |
e |
The
Fund invests in other Funds and indirectly bears its proportionate share
of fees and expenses incurred by the Underlying Funds in which the
Fund
is invested. This ratio does not include these indirect fees and
expenses. |
Prospectus December 1, 2023 | 56 | Financial Highlights |
DWS
Multi-Asset Moderate Allocation Fund — Class C | |||||
|
Years Ended
August 31, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Selected
Per Share Data | |||||
Net
asset value, beginning of period |
$8.97 |
$11.23 |
$9.75 |
$9.63 |
$10.03 |
Income
(loss) from investment operations: |
|
|
|
|
|
Net
investment incomea |
.12 |
.10 |
.01 |
.06 |
.10 |
Net realized
and unrealized gain (loss) |
.30 |
(1.44
) |
1.81 |
.55 |
(.09
) |
Total
from investment operations |
.42 |
(1.34
) |
1.82 |
.61 |
.01 |
Less
distributions from: |
|
|
|
|
|
Net
investment income |
(.07
) |
(.13
) |
(.00
)* |
(.15
) |
(.06
) |
Net realized
gains |
(.12
) |
(.79
) |
(.34
) |
(.34
) |
(.35
) |
Total
distributions |
(.19
) |
(.92
) |
(.34
) |
(.49
) |
(.41
) |
Net
asset value, end of period |
$9.20 |
$8.97 |
$11.23 |
$9.75 |
$9.63 |
Total Return
(%)b,c,d |
4.82 |
(13.08
) |
19.14 |
6.30 |
.59 |
Ratios
to Average Net Assets and Supplemental Data | |||||
Net assets,
end of period ($ millions) |
1 |
1 |
2 |
2 |
2 |
Ratio of
expenses before expense reductions (%)e |
2.15 |
2.05 |
1.95 |
2.02 |
1.96 |
Ratio of
expenses after expense reductions (%)e |
1.40 |
1.35 |
1.48 |
1.43 |
1.45 |
Ratio of net
investment income (%) |
1.35 |
.99 |
.11 |
.61 |
1.06 |
Portfolio
turnover rate (%) |
38 |
67 |
39 |
87 |
36 |
a |
Based
on average shares outstanding during the period. |
b |
Total
return does not reflect the effect of any sales
charges. |
c |
Total
return would have been lower had certain expenses not been
reduced. |
d |
Total
return would have been lower if the Advisor had not reduced some
Underlying DWS Funds’ expenses. |
e |
The
Fund invests in other Funds and indirectly bears its proportionate share
of fees and expenses incurred by the Underlying Funds in which the
Fund
is invested. This ratio does not include these indirect fees and
expenses. |
* |
Amount
is less than $.005. |
Prospectus December 1, 2023 | 57 | Financial Highlights |
DWS
Multi-Asset Moderate Allocation Fund — Class S | |||||
|
Years Ended
August 31, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Selected
Per Share Data | |||||
Net
asset value, beginning of period |
$8.99 |
$11.25 |
$9.78 |
$9.66 |
$10.07 |
Income
(loss) from investment operations: |
|
|
|
|
|
Net
investment incomea |
.20 |
.19 |
.12 |
.15 |
.19 |
Net realized
and unrealized gain (loss) |
.29 |
(1.42
) |
1.80 |
.56 |
(.10
) |
Total
from investment operations |
.49 |
(1.23
) |
1.92 |
.71 |
.09 |
Less
distributions from: |
|
|
|
|
|
Net
investment income |
(.15
) |
(.24
) |
(.11
) |
(.25
) |
(.15
) |
Net realized
gains |
(.12
) |
(.79
) |
(.34
) |
(.34
) |
(.35
) |
Total
distributions |
(.27
) |
(1.03
) |
(.45
) |
(.59
) |
(.50
) |
Net
asset value, end of period |
$9.21 |
$8.99 |
$11.25 |
$9.78 |
$9.66 |
Total Return
(%)b,c |
5.77 |
(12.13
) |
20.20 |
7.41 |
1.54 |
Ratios
to Average Net Assets and Supplemental Data | |||||
Net assets,
end of period ($ millions) |
6 |
6 |
7 |
6 |
6 |
Ratio of
expenses before expense reductions (%)d |
1.09 |
1.00 |
.94 |
1.03 |
.97 |
Ratio of
expenses after expense reductions (%)d |
.40 |
.35 |
.49 |
.43 |
.45 |
Ratio of net
investment income (%) |
2.29 |
1.94 |
1.10 |
1.59 |
2.05 |
Portfolio
turnover rate (%) |
38 |
67 |
39 |
87 |
36 |
a |
Based
on average shares outstanding during the period. |
b |
Total
return would have been lower had certain expenses not been
reduced. |
c |
Total
return would have been lower if the Advisor had not reduced some
Underlying DWS Funds’ expenses. |
d |
The
Fund invests in other Funds and indirectly bears its proportionate share
of fees and expenses incurred by the Underlying Funds in which the
Fund
is invested. This ratio does not include these indirect fees and
expenses. |
Prospectus December 1, 2023 | 58 | Financial Highlights |
|
Maximum
Sales
Charge:
5.75% |
Initial
Hypothetical
Investment:
$10,000 |
Assumed
Rate
of
Return:
5% | ||
Year |
Cumulative
Return
Before
Fees
&
Expenses |
Annual
Fund
Expense
Ratios |
Cumulative
Return
After
Fees
&
Expenses |
Hypothetical
Year-End
Balance
After
Fees
&
Expenses |
Annual
Fees
&
Expenses |
1 |
5.00% |
0.95% |
-1.93% |
$9,806.71 |
$666.35 |
2 |
10.25% |
1.17% |
1.82% |
$10,182.31 |
$116.94 |
3 |
15.76% |
1.17% |
5.72% |
$10,572.29 |
$121.41 |
4 |
21.55% |
1.17% |
9.77% |
$10,977.21 |
$126.06 |
5 |
27.63% |
1.17% |
13.98% |
$11,397.64 |
$130.89 |
6 |
34.01% |
1.17% |
18.34% |
$11,834.17 |
$135.91 |
7 |
40.71% |
1.17% |
22.87% |
$12,287.42 |
$141.11 |
8 |
47.75% |
1.17% |
27.58% |
$12,758.02 |
$146.52 |
9 |
55.13% |
1.17% |
32.47% |
$13,246.66 |
$152.13 |
10 |
62.89% |
1.17% |
37.54% |
$13,754.00 |
$157.95 |
Total |
$1,895.27 |
Prospectus December 1, 2023 | 59 | Appendix A |
|
Maximum
Sales
Charge:
0.00% |
Initial
Hypothetical
Investment:
$10,000 |
Assumed
Rate
of
Return:
5% | ||
Year |
Cumulative
Return
Before
Fees
&
Expenses |
Annual
Fund
Expense
Ratios |
Cumulative
Return
After
Fees
&
Expenses |
Hypothetical
Year-End
Balance
After
Fees
&
Expenses |
Annual
Fees
&
Expenses |
1 |
5.00% |
1.70% |
3.30% |
$10,330.00 |
$172.81 |
2 |
10.25% |
2.03% |
6.37% |
$10,636.80 |
$212.81 |
3 |
15.76% |
2.03% |
9.53% |
$10,952.71 |
$219.13 |
4 |
21.55% |
2.03% |
12.78% |
$11,278.01 |
$225.64 |
5 |
27.63% |
2.03% |
16.13% |
$11,612.97 |
$232.34 |
6 |
34.01% |
2.03% |
19.58% |
$11,957.87 |
$239.24 |
7 |
40.71% |
2.03% |
23.13% |
$12,313.02 |
$246.35 |
8 |
47.75% |
2.03% |
26.79% |
$12,678.72 |
$253.67 |
9 |
55.13% |
1.17% |
31.64% |
$13,164.31 |
$151.18 |
10 |
62.89% |
1.17% |
36.69% |
$13,668.51 |
$156.97 |
Total |
$2,110.14 |
|
Maximum
Sales
Charge:
0.00% |
Initial
Hypothetical
Investment:
$10,000 |
Assumed
Rate
of
Return:
5% | ||
Year |
Cumulative
Return
Before
Fees
&
Expenses |
Annual
Fund
Expense
Ratios |
Cumulative
Return
After
Fees
&
Expenses |
Hypothetical
Year-End
Balance
After
Fees
&
Expenses |
Annual
Fees
&
Expenses |
1 |
5.00% |
0.70% |
4.30% |
$10,430.00 |
$71.51 |
2 |
10.25% |
0.92% |
8.56% |
$10,855.54 |
$97.91 |
3 |
15.76% |
0.92% |
12.98% |
$11,298.45 |
$101.91 |
4 |
21.55% |
0.92% |
17.59% |
$11,759.43 |
$106.07 |
5 |
27.63% |
0.92% |
22.39% |
$12,239.21 |
$110.39 |
6 |
34.01% |
0.92% |
27.39% |
$12,738.57 |
$114.90 |
7 |
40.71% |
0.92% |
32.58% |
$13,258.31 |
$119.59 |
8 |
47.75% |
0.92% |
37.99% |
$13,799.24 |
$124.46 |
9 |
55.13% |
0.92% |
43.62% |
$14,362.25 |
$129.54 |
10 |
62.89% |
0.92% |
49.48% |
$14,948.23 |
$134.83 |
Total |
$1,111.11 |
Prospectus December 1, 2023 | 60 | Appendix A |
|
Maximum
Sales
Charge:
5.75% |
Initial
Hypothetical
Investment:
$10,000 |
Assumed
Rate
of
Return:
5% | ||
Year |
Cumulative
Return
Before
Fees
&
Expenses |
Annual
Fund
Expense
Ratios |
Cumulative
Return
After
Fees
&
Expenses |
Hypothetical
Year-End
Balance
After
Fees
&
Expenses |
Annual
Fees
&
Expenses |
1 |
5.00% |
1.06% |
-2.04% |
$9,796.35 |
$676.87 |
2 |
10.25% |
1.77% |
1.13% |
$10,112.77 |
$176.20 |
3 |
15.76% |
1.77% |
4.39% |
$10,439.41 |
$181.89 |
4 |
21.55% |
1.77% |
7.77% |
$10,776.60 |
$187.76 |
5 |
27.63% |
1.77% |
11.25% |
$11,124.69 |
$193.83 |
6 |
34.01% |
1.77% |
14.84% |
$11,484.01 |
$200.09 |
7 |
40.71% |
1.77% |
18.55% |
$11,854.95 |
$206.55 |
8 |
47.75% |
1.77% |
22.38% |
$12,237.86 |
$213.22 |
9 |
55.13% |
1.77% |
26.33% |
$12,633.15 |
$220.11 |
10 |
62.89% |
1.77% |
30.41% |
$13,041.20 |
$227.22 |
Total |
$2,483.74 |
|
Maximum
Sales
Charge:
0.00% |
Initial
Hypothetical
Investment:
$10,000 |
Assumed
Rate
of
Return:
5% | ||
Year |
Cumulative
Return
Before
Fees
&
Expenses |
Annual
Fund
Expense
Ratios |
Cumulative
Return
After
Fees
&
Expenses |
Hypothetical
Year-End
Balance
After
Fees
&
Expenses |
Annual
Fees
&
Expenses |
1 |
5.00% |
1.81% |
3.19% |
$10,319.00 |
$183.89 |
2 |
10.25% |
2.58% |
5.69% |
$10,568.72 |
$269.45 |
3 |
15.76% |
2.58% |
8.24% |
$10,824.48 |
$275.97 |
4 |
21.55% |
2.58% |
10.86% |
$11,086.44 |
$282.65 |
5 |
27.63% |
2.58% |
13.55% |
$11,354.73 |
$289.49 |
6 |
34.01% |
2.58% |
16.30% |
$11,629.51 |
$296.50 |
7 |
40.71% |
2.58% |
19.11% |
$11,910.95 |
$303.67 |
8 |
47.75% |
2.58% |
21.99% |
$12,199.19 |
$311.02 |
9 |
55.13% |
1.77% |
25.93% |
$12,593.22 |
$219.41 |
10 |
62.89% |
1.77% |
30.00% |
$12,999.99 |
$226.50 |
Total |
$2,658.55 |
Prospectus December 1, 2023 | 61 | Appendix A |
|
Maximum
Sales
Charge:
0.00% |
Initial
Hypothetical
Investment:
$10,000 |
Assumed
Rate
of
Return:
5% | ||
Year |
Cumulative
Return
Before
Fees
&
Expenses |
Annual
Fund
Expense
Ratios |
Cumulative
Return
After
Fees
&
Expenses |
Hypothetical
Year-End
Balance
After
Fees
&
Expenses |
Annual
Fees
&
Expenses |
1 |
5.00% |
0.81% |
4.19% |
$10,419.00 |
$82.70 |
2 |
10.25% |
1.52% |
7.82% |
$10,781.58 |
$161.12 |
3 |
15.76% |
1.52% |
11.57% |
$11,156.78 |
$166.73 |
4 |
21.55% |
1.52% |
15.45% |
$11,545.04 |
$172.53 |
5 |
27.63% |
1.52% |
19.47% |
$11,946.80 |
$178.54 |
6 |
34.01% |
1.52% |
23.63% |
$12,362.55 |
$184.75 |
7 |
40.71% |
1.52% |
27.93% |
$12,792.77 |
$191.18 |
8 |
47.75% |
1.52% |
32.38% |
$13,237.96 |
$197.83 |
9 |
55.13% |
1.52% |
36.99% |
$13,698.64 |
$204.72 |
10 |
62.89% |
1.52% |
41.75% |
$14,175.35 |
$211.84 |
Total |
$1,751.94 |
Prospectus December 1, 2023 | 62 | Appendix A |
Prospectus December 1, 2023 | 63 | Appendix B |
Prospectus December 1, 2023 | 64 | Appendix B |
Prospectus December 1, 2023 | 65 | Appendix B |
Prospectus December 1, 2023 | 66 | Appendix B |
Prospectus December 1, 2023 | 67 | Appendix B |
Prospectus December 1, 2023 | 68 | Appendix B |
Prospectus December 1, 2023 | 69 | Appendix B |
Prospectus December 1, 2023 | 70 | Appendix B |
DWS |
PO
Box 219151
Kansas
City, MO
64121-9151
dws.com |
|
Shareholders:
(800)
728-3337
Investment
professionals:
(800)
621-5027 |
Distributor |
DWS
Distributors, Inc.
222
South Riverside Plaza
Chicago,
IL 60606-5808
(800)
621-1148 |
SEC
File Number |
Deutsche
DWS Asset Allocation Trust
DWS
Multi-Asset Conservative Alloca-
tion
Fund
811-08606
Deutsche
DWS Asset Allocation Trust
DWS
Multi-Asset Moderate Allocation
Fund
811-08606
|