February 28, 2023
Semi-Annual Report
DBX ETF Trust
Xtrackers FTSE Developed ex US Multifactor ETF (DEEF)
Xtrackers MSCI Kokusai Equity ETF (KOKU)
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (QARP)
Xtrackers Russell US Multifactor ETF (DEUS)
DBX ETF Trust
Page | ||||
1 | ||||
Portfolio Summary |
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2 | ||||
3 | ||||
4 | ||||
5 | ||||
6 | ||||
Schedule of Investments |
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7 | ||||
21 | ||||
35 | ||||
40 | ||||
50 | ||||
51 | ||||
52 | ||||
54 | ||||
56 | ||||
64 | ||||
Board Consideration in Approval of Investment Advisory Contracts |
65 | |||
68 |
To our Shareholders: (Unaudited)
Dear shareholder,
We are pleased to provide this semi-annual report on four of our equity ETFs for the period ended February 28, 2023.
The global economy showed signs of recovery during the reporting period on cooling inflation, a robust job market, and declining energy prices. Driven by slowing inflation in the U.S., central banks across developed countries announced slower rate hikes in their fight against rising prices. While central banks readjusted their stance again by revising the possible peak level for lending rates, the Bank of Japan continued to hold an accommodative stance on monetary policy in its push to solidify the economic recovery. While the Russia-Ukraine war continued, concerns of an energy crisis in Europe were largely abated as winter was not as cold as expected. In early 2023, developing markets continue to rally, even though inflation numbers seem primed to stay resolute.
U.S. equities wobbled through the period on high inflation levels and the consequent rate hikes by the U.S. Federal Reserve (Fed). Tight labor-market conditions kept inflation levels high with no signs of cooling. Despite multiple rate hikes by the Fed, inflation remained at its highest in decades, denting market expectations of a slowdown in rate hikes. A growing realization that the rate hikes by the Fed have not had much of an impact in taming inflation, weighed on the investor sentiment. Meanwhile, the U.S. economy expanded at a healthy pace in Q4 2022 despite looming fears of a recession. By February 2023, the unemployment rate had dipped to its lowest level in 53 years.
Eurozone equities rallied through the period on upbeat corporate earnings, strong business activity, falling energy prices and a milder-than-expected winter. Meanwhile, manufacturing activity also improved as supply bottlenecks eased. With winter ending, inflation in the Eurozone declined to 8.5% in February. Investors also expected the policymakers to ease off on the rate-hike spree. However, the European Central Bank maintained a hawkish stance and reiterated that it would work toward achieving the target inflation rate of 2%.
In the U.K., newly appointed Prime Minister Rishi Sunak signaled a slew of critical decisions in the coming days and promised a supportive approach to restoring the U.K.’s economic stability. U.K. equities rallied in the period, notwithstanding the historically high levels of inflation and the ensuing rate hikes. Elsewhere, Japan’s stocks also rallied on expectations of reduced monetary tightening by the Fed and other major central banks.
Our analysts believe 2023 will be a year of tackling uncertainties that can plague the investment environment. These relate to inflation rates, interest rate hikes, changing economic growth prospects, and geopolitical developments. Although there is a chance of a recession in 2023, we believe it will be shallow and mild, given the absence of structural imbalances in the economy. Meanwhile, we believe slowing demand and declining housing prices are likely to help reduce inflation and prompt the major central banks to pause or scale back further rate hikes.
Our team appreciates your trust and looks forward to serving your investment needs through innovative index-driven strategies.
Sincerely,
/s/ Freddi Klassen
Freddi Klassen
President and Chief Executive Officer
Assumptions, estimates and opinions contained in this document constitute our judgment as of the date of the document and are subject to change without notice. Any projections are based on a number of assumptions as to market conditions and there can be no guarantee that any projected results will be achieved. Past performance is not a guarantee of future results.
1
DBX ETF Trust
Portfolio Summary (Unaudited)
Xtrackers FTSE Developed ex US Multifactor ETF (DEEF)
Xtrackers FTSE Developed ex US Multifactor ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the FTSE Developed ex US Comprehensive Factor Index (the “Underlying Index”). The Underlying Index is designed to track the equity market performance of companies in developed countries (except the United States) selected on the investment style criteria (“factors”) of value, momentum, quality, low volatility and size. The companies eligible for the Underlying Index are derived from its starting universe, the FTSE Developed ex US Index, which is comprised of large- and mid-capitalization equity securities from developed markets (except the United States). It is not possible to invest directly into an index.
Ten Largest
Equity Holdings as of February 28, 2023 (7.0% of Net Assets) |
Description | % of Net Assets | |||
Fairfax Financial Holdings Ltd. (Canada) |
1.1% | |||
Rio Tinto Ltd. (Australia) |
0.9% | |||
3i Group PLC (United Kingdom) |
0.9% | |||
Industrivarden AB, Class A (Sweden) |
0.7% | |||
Imperial Brands PLC (United Kingdom) |
0.6% | |||
Boliden AB (Sweden) |
0.6% | |||
Ampol Ltd. (Australia) |
0.6% | |||
Carrefour SA (France) |
0.6% | |||
ENEOS Holdings, Inc. (Japan) |
0.5% | |||
Mitsui & Co. Ltd. (Japan) |
0.5% |
Country Diversification* as of February 28, 2023 |
Japan |
30.3% | |||
United Kingdom |
10.6% | |||
Australia |
10.6% | |||
Canada |
5.5% | |||
France |
4.9% | |||
Sweden |
4.8% | |||
South Korea |
4.1% | |||
Singapore |
4.0% | |||
Switzerland |
3.5% | |||
Germany |
3.0% | |||
Hong Kong |
2.7% | |||
Netherlands |
2.1% | |||
Spain |
2.1% | |||
Other |
11.8% | |||
|
|
|||
Total |
100.0% |
Sector Diversification* as of February 28, 2023 |
Industrials |
21.9% | |||
Materials |
12.5% | |||
Financials |
10.7% | |||
Consumer Staples |
10.6% | |||
Consumer Discretionary |
10.2% | |||
Utilities |
8.3% | |||
Real Estate |
7.4% | |||
Communication Services |
6.5% | |||
Information Technology |
4.1% | |||
Health Care |
4.0% | |||
Energy |
3.8% | |||
|
|
|||
Total |
100.0% |
* As a percent of total investments excluding securities lending collateral and cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 7.
2
DBX ETF Trust
Portfolio Summary (Unaudited)
Xtrackers MSCI Kokusai Equity ETF (KOKU)
Xtrackers MSCI Kokusai Equity ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the MSCI Kokusai Index (the “Underlying Index”). The MSCI Kokusai Index is also known as the MSCI World ex Japan Index. The Underlying Index is designed to track the performance of equity markets in developed markets (excluding Japan). The MSCI World Index is a free float-adjusted market capitalization index that is designed to measure developed-market equity performance throughout the world. It is not possible to invest directly into an index.
Ten Largest
Equity Holdings as of February 28, 2023 (18.1% of Net Assets) |
Description | % of Net Assets | |||
Apple, Inc. (United States) |
4.8% | |||
Microsoft Corp. (United States) |
3.6% | |||
Alphabet, Inc., Class C (United States) |
2.1% | |||
Amazon.com, Inc. (United States) |
1.8% | |||
NVIDIA Corp. (United States) |
1.2% | |||
Tesla, Inc. (United States) |
1.1% | |||
Exxon Mobil Corp. (United States) |
0.9% | |||
UnitedHealth Group, Inc. (United States) |
0.9% | |||
JPMorgan Chase & Co. (United States) |
0.9% | |||
Johnson & Johnson (United States) |
0.8% |
Country Diversification* as of February 28, 2023 |
United States |
70.1% | |||
United Kingdom |
5.1% | |||
Canada |
3.7% | |||
France |
3.7% | |||
Switzerland |
3.4% | |||
Germany |
2.6% | |||
Australia |
2.4% | |||
Other |
9.0% | |||
|
|
|||
Total |
100.0% |
Sector Diversification* as of February 28, 2023 |
Information Technology |
21.8% | |||
Financials |
14.7% | |||
Health Care |
13.6% | |||
Consumer Discretionary |
10.2% | |||
Industrials |
10.0% | |||
Consumer Staples |
7.6% | |||
Communication Services |
6.5% | |||
Energy |
5.5% | |||
Materials |
4.5% | |||
Utilities |
3.0% | |||
Real Estate |
2.6% | |||
|
|
|||
Total |
100.0% |
* As a percent of total investments excluding securities lending collateral and cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 21.
3
DBX ETF Trust
Portfolio Summary (Unaudited)
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (QARP)
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the Russell 1000 2Qual/Val 5% Capped Factor Index (the “Underlying Index”). The Underlying Index is designed to track the equity market performance of companies in the United States selected on the investment style criteria (“factors”) of quality and value. The companies eligible for the Underlying Index are derived from its starting universe, the Russell 1000 Index, which is comprised of large-cap equity securities from issuers in the United States. It is not possible to invest directly into an index.
Ten Largest
Equity Holdings as of February 28, 2023 (34.2% of Net Assets) |
Description | % of Net Assets | |||
Apple, Inc. |
5.2% | |||
Microsoft Corp. |
4.8% | |||
Berkshire Hathaway, Inc., Class B * |
4.6% | |||
Exxon Mobil Corp. |
4.0% | |||
Alphabet, Inc., Class A * |
4.0% | |||
Meta Platforms, Inc., Class A * |
3.5% | |||
Chevron Corp. |
2.1% | |||
Home Depot, Inc. |
2.1% | |||
Costco Wholesale Corp. |
2.0% | |||
UnitedHealth Group, Inc. |
1.9% |
Sector Diversification* as of February 28, 2023 |
Information Technology |
23.9% | |||
Health Care |
14.4% | |||
Consumer Discretionary |
12.9% | |||
Energy |
10.3% | |||
Communication Services |
9.9% | |||
Financials |
9.2% | |||
Consumer Staples |
8.1% | |||
Industrials |
6.2% | |||
Materials |
3.8% | |||
Real Estate |
0.9% | |||
Utilities |
0.4% | |||
|
|
|||
Total |
100.0% |
* As a percent of total investments excluding exchange-traded funds, securities lending collateral and cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 35.
4
DBX ETF Trust
Portfolio Summary (Unaudited)
Xtrackers Russell US Multifactor ETF (DEUS)
Xtrackers Russell US Multifactor ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the Russell 1000 Comprehensive Factor Index (the “Underlying Index”). The Underlying Index is designed to track the equity market performance of companies in the United States selected on the investment style criteria (“factors”) of value, momentum, quality, low volatility and size. The companies eligible for the Underlying Index are derived from its starting universe, the Russell 1000 Index, which is comprised of large-cap equity securities from issuers in the United States. It is not possible to invest directly into an index.
Ten Largest
Equity Holdings as of February 28, 2023 (7.7% of Net Assets) |
Description | % of Net Assets | |||
Cardinal Health, Inc. |
1.0% | |||
McKesson Corp. |
1.0% | |||
Nucor Corp. |
0.8% | |||
Archer-Daniels-Midland Co. |
0.8% | |||
AmerisourceBergen Corp. |
0.8% | |||
Reliance Steel & Aluminum Co. |
0.8% | |||
Steel Dynamics, Inc. |
0.7% | |||
Willis Towers Watson PLC |
0.6% | |||
Phillips 66 |
0.6% | |||
Amdocs Ltd. |
0.6% |
Sector Diversification* as of February 28, 2023 |
Industrials |
18.8% | |||
Information Technology |
14.8% | |||
Financials |
13.4% | |||
Health Care |
11.2% | |||
Consumer Discretionary |
10.0% | |||
Materials |
8.7% | |||
Consumer Staples |
7.7% | |||
Utilities |
5.7% | |||
Energy |
3.9% | |||
Real Estate |
3.0% | |||
Communication Services |
2.8% | |||
|
|
|||
Total |
100.0% |
* As a percent of total investments excluding exchange-traded funds, securities lending collateral and cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 40.
5
DBX ETF Trust
As a shareholder of one or more of the Funds, you incur two types of costs: (1) transaction costs, including brokerage commissions paid on purchases and sales of fund shares, and (2) ongoing costs, including management fees and other Fund expenses. In the most recent six-month period the Funds limited these expenses; had they not done so, expenses would have been higher. The expense examples below are intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with the ongoing costs of investing in other funds.
The examples in the tables are based on an investment of $1,000 invested at the beginning of the period and held for the entire period (September 1, 2022 to February 28, 2023).
Actual expenses
The first line in the following tables provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading “Expenses Paid During the Period” to estimate the expenses you paid on your account during this period.
Hypothetical example for comparison purposes
The second line in the following tables provides information about hypothetical account values and hypothetical expenses based on the Funds’ actual expense ratios and an assumed rate of return of 5% per year before expenses (which is not the Funds’ actual return). The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Please note that the expenses shown in the tables are meant to highlight your ongoing costs only, and do not reflect any transactional costs. Therefore the second line in the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
Beginning Account Value September 1, 2022 |
Ending Account Value February 28, 2023 |
Annualized Expense Ratio |
Expenses Paid During the Period Per $1,000(1) |
|||||||||||||
Xtrackers FTSE Developed ex US Multifactor ETF |
| |||||||||||||||
Actual |
$ | 1,000.00 | $ | 1,057.90 | 0.24 | % | $ | 1.22 | ||||||||
Hypothetical (5% return before expenses) |
$ | 1,000.00 | $ | 1,023.60 | 0.24 | % | $ | 1.20 | ||||||||
Xtrackers MSCI Kokusai Equity ETF |
| |||||||||||||||
Actual |
$ | 1,000.00 | $ | 1,042.30 | 0.09 | % | $ | 0.46 | ||||||||
Hypothetical (5% return before expenses) |
$ | 1,000.00 | $ | 1,024.35 | 0.09 | % | $ | 0.45 | ||||||||
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF |
| |||||||||||||||
Actual |
$ | 1,000.00 | $ | 1,027.20 | 0.19 | % | $ | 0.96 | ||||||||
Hypothetical (5% return before expenses) |
$ | 1,000.00 | $ | 1,023.85 | 0.19 | % | $ | 0.95 | ||||||||
Xtrackers Russell US Multifactor ETF |
| |||||||||||||||
Actual |
$ | 1,000.00 | $ | 1,054.70 | 0.17 | % | $ | 0.87 | ||||||||
Hypothetical (5% return before expenses) |
$ | 1,000.00 | $ | 1,023.95 | 0.17 | % | $ | 0.85 |
(1) Expenses are equal to each Fund’s annualized expense ratio, multiplied by the average account value over the period, multiplied by 181 (the number of days in the most recent six-month period), then divided by 365.
6
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
COMMON STOCKS — 98.9% | ||||||||
Australia — 10.5% | ||||||||
Adbri Ltd. |
4,196 | $ | 4,839 | |||||
AGL Energy Ltd. |
49,600 | 230,790 | ||||||
ALS Ltd. |
3,542 | 30,311 | ||||||
Altium Ltd. |
195 | 5,149 | ||||||
Alumina Ltd. |
15,102 | 15,327 | ||||||
AMP Ltd.* |
7,531 | 5,256 | ||||||
Ampol Ltd. |
16,895 | 375,518 | ||||||
Ansell Ltd. |
1,379 | 25,229 | ||||||
ANZ Group Holdings Ltd. |
1,035 | 17,204 | ||||||
APA Group (a) |
17,438 | 126,177 | ||||||
Aristocrat Leisure Ltd. |
1,515 | 37,331 | ||||||
ASX Ltd. |
1,157 | 53,086 | ||||||
Atlas Arteria Ltd. (a) |
8,551 | 39,442 | ||||||
Aurizon Holdings Ltd. |
84,088 | 187,693 | ||||||
Bank of Queensland Ltd. |
986 | 4,694 | ||||||
Beach Energy Ltd. |
19,955 | 19,041 | ||||||
Bendigo & Adelaide Bank Ltd. |
5,058 | 33,358 | ||||||
BHP Group Ltd. |
2,046 | 62,363 | ||||||
BlueScope Steel Ltd. |
7,090 | 91,129 | ||||||
Boral Ltd.* |
8,377 | 20,562 | ||||||
Brambles Ltd. |
34,762 | 301,695 | ||||||
carsales.com Ltd. |
840 | 12,853 | ||||||
Challenger Ltd. |
2,685 | 13,562 | ||||||
Charter Hall Group REIT |
4,673 | 41,943 | ||||||
Cleanaway Waste Management Ltd. |
25,123 | 45,065 | ||||||
Cochlear Ltd. |
772 | 115,687 | ||||||
Coles Group Ltd. |
20,405 | 250,159 | ||||||
Commonwealth Bank of Australia |
160 | 10,864 | ||||||
Computershare Ltd. |
6,908 | 115,529 | ||||||
CSL Ltd. |
102 | 20,381 | ||||||
CSR Ltd. |
21,861 | 75,037 | ||||||
Deterra Royalties Ltd. |
19,277 | 58,108 | ||||||
Dexus REIT |
1,317 | 7,487 | ||||||
Downer EDI Ltd. |
13,502 | 28,772 | ||||||
EBOS Group Ltd. (b) |
1,464 | 40,245 | ||||||
Endeavour Group Ltd. |
44,171 | 203,443 | ||||||
Fortescue Metals Group Ltd. |
2,540 | 36,655 | ||||||
Goodman Group REIT |
9,141 | 122,422 | ||||||
GPT Group REIT |
67,319 | 213,818 | ||||||
Harvey Norman Holdings Ltd. |
19,398 | 50,362 | ||||||
IGO Ltd. |
544 | 4,817 | ||||||
Iluka Resources Ltd. |
12,313 | 86,520 | ||||||
Incitec Pivot Ltd. |
13,172 | 30,556 | ||||||
Insurance Australia Group Ltd. |
15,854 | 49,714 | ||||||
JB Hi-Fi Ltd. |
6,661 | 187,939 | ||||||
Lendlease Corp. Ltd. (a) |
537 | 2,767 | ||||||
Lottery Corp. Ltd.* |
15,235 | 53,321 | ||||||
Macquarie Group Ltd. |
632 | 80,771 | ||||||
Medibank Pvt Ltd. |
132,167 | 297,684 | ||||||
Metcash Ltd. |
63,240 | 173,569 | ||||||
Mineral Resources Ltd. |
90 | 5,011 | ||||||
Mirvac Group REIT |
34,542 | 52,876 | ||||||
Newcrest Mining Ltd. |
976 | 14,835 | ||||||
NEXTDC Ltd.* |
272 | 1,884 | ||||||
Northern Star Resources Ltd. |
2,880 | 20,140 | ||||||
Nufarm Ltd. |
2,134 | 8,361 |
Number |
Value |
|||||||
Australia (Continued) | ||||||||
Orica Ltd. |
2,500 | $ | 27,311 | |||||
Origin Energy Ltd. |
4,353 | 23,513 | ||||||
Orora Ltd. |
63,530 | 151,230 | ||||||
OZ Minerals Ltd. |
3,879 | 73,373 | ||||||
Perpetual Ltd. |
1,003 | 16,497 | ||||||
Qantas Airways Ltd.* |
3,218 | 13,932 | ||||||
QBE Insurance Group Ltd. |
13,951 | 141,871 | ||||||
Qube Holdings Ltd. |
22,866 | 49,651 | ||||||
Ramsay Health Care Ltd. |
1,311 | 59,719 | ||||||
REA Group Ltd. |
213 | 17,649 | ||||||
Reece Ltd. |
791 | 8,823 | ||||||
Region RE Ltd. REIT |
82,050 | 141,093 | ||||||
Rio Tinto Ltd. |
7,739 | 609,190 | ||||||
Santos Ltd. |
1,408 | 6,646 | ||||||
Scentre Group REIT |
18,309 | 36,793 | ||||||
SEEK Ltd. |
1,317 | 21,475 | ||||||
Seven Group Holdings Ltd. |
2,073 | 34,221 | ||||||
Sims Ltd. |
8,332 | 89,730 | ||||||
Sonic Healthcare Ltd. |
8,235 | 178,871 | ||||||
South32 Ltd. |
27,152 | 79,465 | ||||||
Stockland REIT |
35,902 | 92,968 | ||||||
Suncorp Group Ltd. |
7,010 | 60,744 | ||||||
Tabcorp Holdings Ltd. |
162,684 | 110,803 | ||||||
Telstra Group Ltd. |
17,114 | 48,010 | ||||||
TPG Telecom Ltd. |
1,534 | 5,245 | ||||||
Transurban Group (a) |
1,476 | 14,114 | ||||||
Treasury Wine Estates Ltd. |
4,880 | 46,104 | ||||||
Vicinity Ltd. REIT |
128,814 | 177,206 | ||||||
Washington H Soul Pattinson & Co. Ltd. |
1,230 | 24,187 | ||||||
Wesfarmers Ltd. |
2,503 | 81,424 | ||||||
Westpac Banking Corp. |
2,055 | 31,222 | ||||||
Whitehaven Coal Ltd. |
4,120 | 20,087 | ||||||
Woodside Energy Group Ltd. |
3,628 | 87,855 | ||||||
Woolworths Group Ltd. |
390 | 9,710 | ||||||
Worley Ltd. |
1,159 | 11,856 | ||||||
|
|
|||||||
(Cost $6,753,699) |
6,821,939 | |||||||
|
|
|||||||
Austria — 0.2% | ||||||||
ANDRITZ AG |
1,161 | 71,966 | ||||||
OMV AG |
235 | 11,491 | ||||||
Telekom Austria AG* |
5,902 | 44,189 | ||||||
Verbund AG |
74 | 6,443 | ||||||
voestalpine AG |
690 | 25,626 | ||||||
|
|
|||||||
(Cost $114,939) |
159,715 | |||||||
|
|
|||||||
Belgium — 1.1% | ||||||||
Ackermans & van Haaren NV |
255 | 43,350 | ||||||
Ageas SA/NV |
386 | 17,492 | ||||||
Anheuser-Busch InBev SA/NV |
85 | 5,159 | ||||||
D’ieteren Group |
208 | 40,477 | ||||||
Elia Group SA/NV |
1,585 | 209,775 | ||||||
Etablissements Franz Colruyt NV |
279 | 7,572 | ||||||
Groupe Bruxelles Lambert NV |
101 | 8,517 | ||||||
KBC Group NV |
145 | 10,872 | ||||||
Proximus SADP |
5,204 | 48,124 | ||||||
Sofina SA |
144 | 36,101 | ||||||
Solvay SA |
413 | 47,412 | ||||||
UCB SA |
782 | 67,489 |
See Notes to Financial Statements. | 7 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
Belgium (Continued) | ||||||||
Umicore SA |
1,133 | $ | 37,933 | |||||
Warehouses De Pauw CVA REIT |
3,450 | 105,957 | ||||||
|
|
|||||||
(Cost $803,355) |
686,230 | |||||||
|
|
|||||||
Bermuda — 0.0% | ||||||||
Hiscox
Ltd. |
880 | 12,145 | ||||||
|
|
|||||||
Canada — 5.5% | ||||||||
Agnico Eagle Mines Ltd. |
437 | 20,164 | ||||||
Alimentation Couche-Tard, Inc. |
1,834 | 86,227 | ||||||
Bank of Montreal |
177 | 16,813 | ||||||
Bank of Nova Scotia |
81 | 4,012 | ||||||
Barrick Gold Corp. |
2,859 | 46,304 | ||||||
BCE, Inc. |
651 | 28,867 | ||||||
Brookfield Asset Management Ltd., Class A |
47 | 1,585 | ||||||
Brookfield Corp. |
294 | 9,804 | ||||||
Canadian Imperial Bank of Commerce |
355 | 16,271 | ||||||
Canadian National Railway Co. |
501 | 57,189 | ||||||
Canadian Natural Resources Ltd. |
112 | 6,344 | ||||||
Canadian Pacific Railway Ltd. |
107 | 8,145 | ||||||
Canadian Tire Corp. Ltd., Class A |
948 | 118,436 | ||||||
Canadian Utilities Ltd., Class A |
3,111 | 81,782 | ||||||
CGI, Inc.* |
1,933 | 173,700 | ||||||
Constellation Software, Inc. |
30 | 51,698 | ||||||
Dollarama, Inc. |
2,668 | 154,462 | ||||||
Enbridge, Inc. |
734 | 27,598 | ||||||
Fairfax Financial Holdings Ltd. |
1,019 | 714,015 | ||||||
Fortis, Inc. |
2,992 | 118,673 | ||||||
Franco-Nevada Corp. |
556 | 71,129 | ||||||
George Weston Ltd. |
1,542 | 193,621 | ||||||
Great-West Lifeco, Inc. (b) |
539 | 14,739 | ||||||
Hydro One Ltd., 144A |
3,363 | 87,468 | ||||||
IGM Financial, Inc. |
1,424 | 43,428 | ||||||
Imperial Oil Ltd. |
260 | 12,889 | ||||||
Intact Financial Corp. |
1,225 | 176,365 | ||||||
Loblaw Cos. Ltd. |
1,458 | 124,880 | ||||||
Lumine Group, Inc.* (c) |
90 | 1,082 | ||||||
Magna International, Inc. |
1,492 | 83,342 | ||||||
Manulife Financial Corp. |
2,497 | 49,483 | ||||||
Metro, Inc. |
5,655 | 294,370 | ||||||
National Bank of Canada |
824 | 60,657 | ||||||
Nutrien Ltd. |
447 | 34,908 | ||||||
Power Corp. of Canada |
1,381 | 36,943 | ||||||
Restaurant Brands International, Inc. |
390 | 25,223 | ||||||
Royal Bank of Canada |
124 | 12,618 | ||||||
Saputo, Inc. |
2,310 | 61,998 | ||||||
Shaw Communications, Inc., Class B |
3,679 | 106,821 | ||||||
Sun Life Financial, Inc. (b) |
1,470 | 71,197 | ||||||
Suncor Energy, Inc. |
1,328 | 44,733 | ||||||
TC Energy Corp. |
610 | 24,334 | ||||||
Teck Resources Ltd., Class B |
311 | 12,443 | ||||||
TELUS Corp. |
1,246 | 24,829 | ||||||
Thomson Reuters Corp. |
500 | 60,693 | ||||||
Toronto-Dominion Bank |
215 | 14,347 | ||||||
Tourmaline Oil Corp. |
797 | 35,007 | ||||||
Wheaton Precious Metals Corp. |
945 | 39,460 | ||||||
|
|
|||||||
(Cost $3,009,504) |
3,561,096 | |||||||
|
|
Number |
Value |
|||||||
Chile — 0.1% | ||||||||
Antofagasta
PLC |
2,779 | $ | 52,821 | |||||
|
|
|||||||
China — 0.2% | ||||||||
Lenovo Group Ltd. |
76,984 | 69,045 | ||||||
Want Want China Holdings Ltd. |
77,506 | 48,777 | ||||||
|
|
|||||||
(Cost $121,068) |
117,822 | |||||||
|
|
|||||||
Denmark — 0.9% | ||||||||
A.P. Moller — Maersk A/S, Class A |
13 | 29,860 | ||||||
A.P. Moller — Maersk A/S, Class B |
19 | 44,427 | ||||||
Carlsberg A/S, Class B |
1,054 | 149,555 | ||||||
Chr Hansen Holding A/S |
240 | 16,685 | ||||||
Coloplast A/S, Class B |
426 | 49,399 | ||||||
Danske Bank A/S |
1,110 | 25,852 | ||||||
Demant A/S* |
271 | 8,144 | ||||||
DSV A/S |
57 | 10,404 | ||||||
Genmab A/S* |
104 | 39,241 | ||||||
H Lundbeck A/S |
2,961 | 12,556 | ||||||
H Lundbeck A/S, Class A* |
1,706 | 6,539 | ||||||
Novo Nordisk A/S, Class B |
159 | 22,570 | ||||||
Novozymes A/S, Class B |
1,435 | 69,358 | ||||||
Orsted AS, 144A |
137 | 12,009 | ||||||
Royal Unibrew A/S |
386 | 26,967 | ||||||
SimCorp A/S |
85 | 6,124 | ||||||
Tryg A/S |
1,558 | 34,621 | ||||||
Vestas Wind Systems A/S |
164 | 4,688 | ||||||
|
|
|||||||
(Cost $553,565) |
568,999 | |||||||
|
|
|||||||
Finland — 1.6% | ||||||||
Elisa OYJ |
2,478 | 141,172 | ||||||
Fortum OYJ |
389 | 5,965 | ||||||
Huhtamaki OYJ (b) |
389 | 13,775 | ||||||
Kesko OYJ, Class B |
2,949 | 64,331 | ||||||
Kojamo OYJ |
9,014 | 119,874 | ||||||
Kone OYJ, Class B |
1,210 | 63,070 | ||||||
Metso Outotec OYJ |
598 | 6,393 | ||||||
Neste OYJ |
312 | 15,118 | ||||||
Nokia OYJ |
3,951 | 18,350 | ||||||
Nordea Bank Abp |
1,391 | 17,663 | ||||||
Orion OYJ, Class B |
2,832 | 133,799 | ||||||
Sampo OYJ, Class A |
2,327 | 113,617 | ||||||
Stora Enso OYJ, Class R |
6,331 | 89,934 | ||||||
UPM-Kymmene OYJ |
3,212 | 116,871 | ||||||
Valmet OYJ |
2,492 | 82,639 | ||||||
Wartsila OYJ Abp |
2,324 | 22,566 | ||||||
|
|
|||||||
(Cost $1,163,188) |
1,025,137 | |||||||
|
|
|||||||
France — 4.8% | ||||||||
Air Liquide SA |
356 | 56,842 | ||||||
Airbus SE |
42 | 5,524 | ||||||
ALD SA, 144A |
1,586 | 21,125 | ||||||
Alstom SA (b) |
290 | 8,559 | ||||||
Amundi SA, 144A |
340 | 22,500 | ||||||
Arkema SA |
753 | 76,789 | ||||||
AXA SA |
477 | 15,100 | ||||||
BioMerieux |
331 | 32,554 | ||||||
BNP Paribas SA |
144 | 10,102 | ||||||
Bollore SE |
9,947 | 55,803 |
See Notes to Financial Statements. | 8 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
France (Continued) | ||||||||
Bouygues SA |
3,011 | $ | 102,309 | |||||
Bureau Veritas SA |
2,008 | 57,624 | ||||||
Capgemini SE |
199 | 37,533 | ||||||
Carrefour SA |
17,785 | 352,889 | ||||||
Cie de L’Odet SE (b) |
8 | 12,217 | ||||||
Cie de Saint-Gobain |
1,047 | 62,546 | ||||||
Cie Generale des Etablissements Michelin SCA |
3,862 | 121,784 | ||||||
Credit Agricole SA |
451 | 5,530 | ||||||
Danone SA |
1,238 | 69,899 | ||||||
Dassault Aviation SA |
516 | 89,033 | ||||||
Dassault Systemes SE |
183 | 7,099 | ||||||
Edenred |
1,181 | 66,781 | ||||||
Eiffage SA |
1,815 | 200,180 | ||||||
Engie SA |
9,777 | 143,459 | ||||||
EssilorLuxottica SA |
81 | 14,122 | ||||||
Eurazeo SE |
1,818 | 123,006 | ||||||
Gecina SA REIT |
181 | 20,942 | ||||||
Getlink SE |
1,047 | 17,682 | ||||||
Hermes International |
6 | 10,916 | ||||||
Ipsen SA |
494 | 56,632 | ||||||
JCDecaux SE* |
354 | 8,124 | ||||||
Kering SA |
24 | 14,126 | ||||||
La Francaise des Jeux SAEM, 144A |
195 | 7,732 | ||||||
Legrand SA |
585 | 54,347 | ||||||
L’Oreal SA |
22 | 8,752 | ||||||
LVMH Moet Hennessy Louis Vuitton SE |
10 | 8,367 | ||||||
Orange SA |
19,336 | 221,299 | ||||||
Pernod Ricard SA |
215 | 45,077 | ||||||
Publicis Groupe SA |
1,206 | 96,229 | ||||||
Remy Cointreau SA |
221 | 38,999 | ||||||
Renault SA* |
516 | 23,240 | ||||||
Rexel SA* |
1,023 | 25,549 | ||||||
Sanofi |
414 | 39,027 | ||||||
Sartorius Stedim Biotech |
14 | 4,583 | ||||||
Schneider Electric SE |
162 | 26,134 | ||||||
SEB SA (b) |
196 | 22,740 | ||||||
Societe Generale SA |
184 | 5,331 | ||||||
Sodexo SA |
360 | 33,497 | ||||||
Teleperformance |
144 | 37,567 | ||||||
Thales SA |
288 | 40,377 | ||||||
TotalEnergies SE |
468 | 29,069 | ||||||
Ubisoft Entertainment SA* |
226 | 5,004 | ||||||
Veolia Environnement SA |
4,819 | 144,680 | ||||||
Vinci SA |
671 | 76,739 | ||||||
Vivendi SE |
19,240 | 198,899 | ||||||
Wendel SE |
496 | 56,546 | ||||||
|
|
|||||||
(Cost $2,840,931) |
3,149,115 | |||||||
|
|
|||||||
Germany — 2.9% | ||||||||
adidas AG |
94 | 14,122 | ||||||
Allianz SE |
78 | 18,376 | ||||||
BASF SE |
1,266 | 65,082 | ||||||
Bayer AG |
676 | 40,354 | ||||||
Bayerische Motoren Werke AG |
754 | 78,163 | ||||||
Bechtle AG |
113 | 4,785 | ||||||
Beiersdorf AG |
453 | 54,286 | ||||||
Brenntag SE |
508 | 38,466 |
Number |
Value |
|||||||
Germany (Continued) | ||||||||
Carl Zeiss Meditec AG |
40 | $ | 5,358 | |||||
Continental AG |
212 | 15,288 | ||||||
Covestro AG, 144A |
887 | 39,179 | ||||||
CTS Eventim AG & Co. KGaA* |
247 | 16,293 | ||||||
Daimler Truck Holding AG* |
1,608 | 51,184 | ||||||
Deutsche Boerse AG |
53 | 9,274 | ||||||
Deutsche Post AG |
969 | 41,228 | ||||||
Deutsche Telekom AG |
2,204 | 49,633 | ||||||
E.ON SE |
16,954 | 186,000 | ||||||
Evonik Industries AG |
1,648 | 35,356 | ||||||
Fielmann AG |
171 | 6,097 | ||||||
Fresenius Medical Care AG & Co. KGaA |
403 | 15,779 | ||||||
Fresenius SE & Co. KGaA |
571 | 15,762 | ||||||
FUCHS PETROLUB SE |
541 | 17,786 | ||||||
GEA Group AG |
2,023 | 89,291 | ||||||
Hannover Rueck SE |
155 | 30,196 | ||||||
HeidelbergCement AG |
1,130 | 78,038 | ||||||
Henkel AG & Co. KGaA |
364 | 25,265 | ||||||
HOCHTIEF AG |
78 | 5,334 | ||||||
Infineon Technologies AG |
129 | 4,585 | ||||||
Knorr-Bremse AG |
74 | 5,055 | ||||||
LEG Immobilien SE |
925 | 67,471 | ||||||
Mercedes-Benz Group AG |
584 | 44,995 | ||||||
Merck KGaA |
356 | 67,711 | ||||||
METRO AG* |
1,226 | 11,110 | ||||||
MTU Aero Engines AG |
124 | 30,048 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen |
99 | 34,237 | ||||||
Puma SE |
59 | 3,779 | ||||||
Rational AG |
13 | 8,658 | ||||||
Rheinmetall AG |
83 | 21,178 | ||||||
RWE AG |
6,384 | 272,434 | ||||||
SAP SE |
73 | 8,321 | ||||||
Scout24 SE, 144A |
628 | 34,578 | ||||||
Siemens AG |
94 | 14,425 | ||||||
Siemens Energy AG* (b) |
625 | 12,574 | ||||||
Symrise AG |
210 | 21,558 | ||||||
Talanx AG |
68 | 3,257 | ||||||
Telefonica Deutschland Holding AG |
30,361 | 92,440 | ||||||
United Internet AG |
753 | 16,546 | ||||||
Vantage Towers AG* (b) |
415 | 14,348 | ||||||
Vonovia SE |
233 | 5,893 | ||||||
Wacker Chemie AG |
67 | 10,544 | ||||||
|
|
|||||||
(Cost $1,799,064) |
1,851,720 | |||||||
|
|
|||||||
Hong Kong — 2.7% | ||||||||
AIA Group Ltd. |
1,818 | 19,281 | ||||||
ASMPT Ltd. |
2,353 | 20,054 | ||||||
Bank of East Asia Ltd. |
7,259 | 10,246 | ||||||
BOC Hong Kong Holdings Ltd. |
5,040 | 17,047 | ||||||
Budweiser Brewing Co. APAC Ltd., 144A |
2,636 | 7,892 | ||||||
Cafe de Coral Holdings Ltd. |
10,020 | 15,395 | ||||||
Cathay Pacific Airways Ltd.* |
5,616 | 5,523 | ||||||
China Travel International Investment Hong Kong Ltd.* |
38,656 | 7,682 | ||||||
Chow Tai Fook Jewellery Group Ltd. |
8,078 | 15,642 | ||||||
CK Asset Holdings Ltd. |
14,176 | 88,854 | ||||||
CK Hutchison Holdings Ltd. |
28,711 | 171,180 |
See Notes to Financial Statements. | 9 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
Hong Kong (Continued) | ||||||||
CK Infrastructure Holdings Ltd. |
5,073 | $ | 26,756 | |||||
CLP Holdings Ltd. |
9,732 | 68,872 | ||||||
Dah Sing Financial Holdings Ltd. |
1,787 | 4,826 | ||||||
DFI Retail Group Holdings Ltd. |
3,800 | 12,236 | ||||||
ESR Group Ltd., 144A |
1,622 | 2,757 | ||||||
First Pacific Co. Ltd. |
81,517 | 27,313 | ||||||
Hang Lung Group Ltd. |
5,688 | 10,333 | ||||||
Hang Lung Properties Ltd. |
3,504 | 6,758 | ||||||
Hang Seng Bank Ltd. |
787 | 12,793 | ||||||
Henderson Land Development Co. Ltd. |
3,863 | 13,558 | ||||||
Hong Kong & China Gas Co. Ltd. |
15,734 | 14,793 | ||||||
Hong Kong Exchanges & Clearing Ltd. |
147 | 5,892 | ||||||
Hutchison Port Holdings Trust, Class U |
182,500 | 33,580 | ||||||
Hutchison Telecommunications Hong Kong Holdings Ltd. |
87,155 | 14,878 | ||||||
Hysan Development Co. Ltd. |
5,427 | 17,181 | ||||||
Jardine Matheson Holdings Ltd. |
5,100 | 252,552 | ||||||
Kerry Logistics Network Ltd. |
13,657 | 22,549 | ||||||
Kerry Properties Ltd. |
32,170 | 80,492 | ||||||
Link REIT |
8,344 | 54,851 | ||||||
MTR Corp. Ltd. |
2,641 | 13,307 | ||||||
New World Development Co. Ltd. |
3,315 | 9,017 | ||||||
NWS Holdings Ltd. |
21,812 | 19,201 | ||||||
PCCW Ltd. |
189,436 | 94,121 | ||||||
Power Assets Holdings Ltd. |
26,088 | 139,588 | ||||||
Sino Land Co. Ltd. |
61,320 | 78,588 | ||||||
SITC International Holdings Co. Ltd. |
8,909 | 18,614 | ||||||
Sun Hung Kai Properties Ltd. |
2,610 | 35,645 | ||||||
Swire Pacific Ltd., Class A |
6,635 | 54,098 | ||||||
Swire Pacific Ltd., Class B |
17,598 | 22,240 | ||||||
Swire Properties Ltd. |
3,665 | 9,642 | ||||||
VTech Holdings Ltd. |
4,239 | 23,275 | ||||||
WH Group Ltd., 144A |
161,097 | 93,586 | ||||||
Wharf Holdings Ltd. |
4,369 | 9,674 | ||||||
Wharf Real Estate Investment Co. Ltd. |
2,983 | 16,341 | ||||||
Xinyi Glass Holdings Ltd. |
8,474 | 15,826 | ||||||
Yue Yuen Industrial Holdings Ltd. |
7,414 | 10,956 | ||||||
|
|
|||||||
(Cost $1,884,817) |
1,725,485 | |||||||
|
|
|||||||
Ireland — 0.6% | ||||||||
CRH PLC |
1,625 | 76,873 | ||||||
DCC PLC |
2,916 | 163,168 | ||||||
Experian PLC |
1,453 | 49,342 | ||||||
Glanbia PLC |
1,896 | 23,545 | ||||||
James Hardie Industries PLC CDI |
1,051 | 21,992 | ||||||
Kerry Group PLC, Class A |
360 | 34,597 | ||||||
Kingspan Group PLC |
104 | 6,792 | ||||||
Smurfit Kappa Group PLC |
1,271 | 47,593 | ||||||
|
|
|||||||
(Cost $418,332) |
423,902 | |||||||
|
|
|||||||
Israel — 1.8% | ||||||||
Airport City Ltd.* |
5,063 | 66,915 | ||||||
Alony Hetz Properties & Investments Ltd. |
4,304 | 37,479 | ||||||
Amot Investments Ltd. |
4,747 | 23,521 | ||||||
Ashtrom Group Ltd. |
443 | 6,791 | ||||||
Azrieli Group Ltd. |
500 | 28,059 | ||||||
Bank Hapoalim BM |
6,011 | 50,319 | ||||||
Bank Leumi Le-Israel BM |
6,616 | 51,490 |
Number |
Value |
|||||||
Israel (Continued) | ||||||||
Bezeq The Israeli Telecommunication Corp. Ltd. |
80,579 | $ | 111,571 | |||||
Big Shopping Centers Ltd.* |
149 | 12,926 | ||||||
Elbit Systems Ltd. |
484 | 82,067 | ||||||
Elco Ltd. |
166 | 6,126 | ||||||
Electra Ltd. (b) |
16 | 6,487 | ||||||
Energix-Renewable Energies Ltd. |
1,271 | 3,497 | ||||||
Enlight Renewable Energy Ltd.* |
752 | 12,311 | ||||||
First International Bank Of Israel Ltd. |
302 | 10,706 | ||||||
Fox Wizel Ltd. |
62 | 4,930 | ||||||
Gav-Yam Lands Corp. Ltd. |
2,104 | 15,038 | ||||||
Harel Insurance Investments & Financial Services Ltd. |
1,587 | 13,359 | ||||||
ICL Group Ltd. |
16,233 | 118,026 | ||||||
Israel Corp. Ltd. |
47 | 16,044 | ||||||
Israel Discount Bank Ltd., Class A |
9,684 | 45,968 | ||||||
Melisron Ltd. |
345 | 20,645 | ||||||
Mivne Real Estate KD Ltd. (b) |
21,710 | 56,132 | ||||||
Mizrahi Tefahot Bank Ltd. |
806 | 23,984 | ||||||
Nice Ltd.* |
124 | 25,662 | ||||||
Nova Ltd.* |
231 | 21,089 | ||||||
OPC Energy Ltd.* |
485 | 3,926 | ||||||
Paz Oil Co. Ltd.* |
722 | 76,489 | ||||||
Phoenix Holdings Ltd. |
2,042 | 19,503 | ||||||
Sapiens International Corp NV |
183 | 3,813 | ||||||
Shapir Engineering and Industry Ltd. |
1,197 | 7,897 | ||||||
Shufersal Ltd. |
7,351 | 37,952 | ||||||
Strauss Group Ltd. |
2,336 | 53,204 | ||||||
Teva Pharmaceutical Industries Ltd.* |
726 | 7,218 | ||||||
Tower Semiconductor Ltd.* |
1,699 | 69,486 | ||||||
|
|
|||||||
(Cost $1,286,016) |
1,150,630 | |||||||
|
|
|||||||
Italy — 1.7% | ||||||||
A2A SpA |
38,772 | 57,380 | ||||||
Amplifon SpA |
128 | 3,717 | ||||||
Assicurazioni Generali SpA |
1,584 | 31,430 | ||||||
Banca Mediolanum SpA |
929 | 9,040 | ||||||
Buzzi Unicem SpA |
2,141 | 49,384 | ||||||
Davide Campari-Milano NV |
1,772 | 19,910 | ||||||
De’ Longhi SpA |
257 | 6,432 | ||||||
Enel SpA |
8,525 | 48,070 | ||||||
Eni SpA |
11,626 | 164,794 | ||||||
Ferrari NV |
204 | 53,069 | ||||||
Hera SpA |
25,984 | 69,524 | ||||||
Infrastrutture Wireless Italiane SpA, 144A |
1,278 | 14,122 | ||||||
Interpump Group SpA |
178 | 9,806 | ||||||
Intesa Sanpaolo SpA |
2,126 | 5,775 | ||||||
Italgas SpA |
20,042 | 114,456 | ||||||
Leonardo SpA |
2,224 | 25,036 | ||||||
Mediobanca Banca di Credito Finanziario SpA |
1,517 | 16,249 | ||||||
Moncler SpA |
698 | 42,785 | ||||||
Pirelli & C SpA, 144A |
5,145 | 26,310 | ||||||
Poste Italiane SpA, 144A |
372 | 4,024 | ||||||
PRADA SpA |
1,128 | 7,631 | ||||||
Prysmian SpA |
3,394 | 130,908 | ||||||
Recordati Industria Chimica e Farmaceutica SpA |
1,022 | 43,505 |
See Notes to Financial Statements. | 10 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
Italy (Continued) | ||||||||
Reply SpA |
52 | $ | 6,276 | |||||
Snam SpA |
10,352 | 51,005 | ||||||
Terna — Rete Elettrica Nazionale |
9,084 | 68,668 | ||||||
UnipolSai Assicurazioni SpA |
3,570 | 9,109 | ||||||
|
|
|||||||
(Cost $1,081,303) |
1,088,415 | |||||||
|
|
|||||||
Japan — 30.1% | ||||||||
ABC-Mart, Inc. (b) |
663 | 32,660 | ||||||
Acom Co. Ltd. |
1,700 | 4,181 | ||||||
Activia Properties, Inc. REIT |
4 | 11,526 | ||||||
Advance Residence Investment Corp. REIT |
6 | 14,734 | ||||||
Advantest Corp. |
100 | 7,936 | ||||||
Aeon Co. Ltd. (b) |
1,049 | 19,561 | ||||||
Aeon Mall Co. Ltd. (b) |
900 | 11,748 | ||||||
AEON REIT Investment Corp. REIT |
15 | 16,386 | ||||||
AGC, Inc. |
3,254 | 120,399 | ||||||
Aica Kogyo Co. Ltd. |
914 | 20,767 | ||||||
Ain Holdings, Inc. |
700 | 29,086 | ||||||
Air Water, Inc. |
6,200 | 74,510 | ||||||
Aisin Corp. |
2,593 | 71,005 | ||||||
Ajinomoto Co., Inc. |
1,500 | 44,246 | ||||||
Alfresa Holdings Corp. |
10,700 | 129,297 | ||||||
Amada Co. Ltd. |
8,243 | 74,978 | ||||||
Amano Corp. |
1,500 | 27,717 | ||||||
Anritsu Corp. |
1,100 | 10,046 | ||||||
As One Corp. |
200 | 8,340 | ||||||
Asahi Group Holdings Ltd. |
692 | 24,466 | ||||||
Asahi Intecc Co. Ltd. |
216 | 3,679 | ||||||
Asahi Kasei Corp. |
7,819 | 54,520 | ||||||
Asics Corp. |
400 | 10,131 | ||||||
ASKUL Corp. |
900 | 11,378 | ||||||
Astellas Pharma, Inc. |
5,883 | 82,880 | ||||||
Azbil Corp. |
1,113 | 28,925 | ||||||
Bandai Namco Holdings, Inc. |
1,600 | 98,832 | ||||||
Benesse Holdings, Inc. |
1,000 | 14,793 | ||||||
Bic Camera, Inc. (b) |
4,800 | 41,123 | ||||||
BIPROGY, Inc. |
900 | 19,954 | ||||||
Bridgestone Corp. |
1,624 | 62,294 | ||||||
Brother Industries Ltd. |
3,942 | 57,966 | ||||||
Calbee, Inc. |
1,480 | 29,347 | ||||||
Canon Marketing Japan, Inc. |
1,700 | 37,566 | ||||||
Canon, Inc. |
7,222 | 155,903 | ||||||
Capcom Co. Ltd. |
1,408 | 44,292 | ||||||
Casio Computer Co. Ltd. |
1,000 | 9,801 | ||||||
Central Japan Railway Co. |
100 | 11,240 | ||||||
Chiba Bank Ltd. |
2,000 | 14,639 | ||||||
Chubu Electric Power Co., Inc. |
5,731 | 59,407 | ||||||
Chugai Pharmaceutical Co. Ltd. |
700 | 17,442 | ||||||
Chugin Financial Group, Inc. |
1,700 | 11,919 | ||||||
Chugoku Electric Power Co., Inc. |
1,883 | 9,276 | ||||||
Coca-Cola Bottlers Japan Holdings, Inc. |
1,200 | 12,633 | ||||||
COMSYS Holdings Corp. |
1,634 | 29,725 | ||||||
Concordia Financial Group Ltd. |
2,600 | 11,166 | ||||||
Cosmo Energy Holdings Co. Ltd. |
900 | 27,056 | ||||||
Cosmos Pharmaceutical Corp. |
90 | 8,246 | ||||||
Credit Saison Co. Ltd. |
600 | 8,175 | ||||||
CyberAgent, Inc. |
800 | 6,848 |
Number |
Value |
|||||||
Japan (Continued) | ||||||||
Dai Nippon Printing Co. Ltd. |
10,407 | $ | 278,865 | |||||
Daicel Corp. |
7,827 | 54,300 | ||||||
Daido Steel Co. Ltd. |
255 | 9,997 | ||||||
Daifuku Co. Ltd. |
126 | 6,873 | ||||||
Dai-ichi Life Holdings, Inc. |
1,100 | 23,447 | ||||||
Daiichi Sankyo Co. Ltd. |
200 | 6,289 | ||||||
Daiichikosho Co. Ltd. |
700 | 22,252 | ||||||
Daikin Industries Ltd. |
84 | 14,396 | ||||||
Daio Paper Corp. |
800 | 6,349 | ||||||
Daito Trust Construction Co. Ltd. |
1,885 | 177,547 | ||||||
Daiwa House Industry Co. Ltd. |
3,302 | 76,190 | ||||||
Daiwa House REIT Investment Corp. REIT (b) |
6 | 12,382 | ||||||
Daiwa Office Investment Corp. REIT |
1 | 4,493 | ||||||
Daiwa Securities Living Investments Corp. REIT |
13 | 10,813 | ||||||
DeNA Co. Ltd. |
500 | 6,420 | ||||||
Denka Co. Ltd. |
1,100 | 23,217 | ||||||
Denso Corp. |
344 | 18,281 | ||||||
Dentsu Group, Inc. |
1,700 | 54,539 | ||||||
DIC Corp. |
700 | 12,488 | ||||||
Disco Corp. |
159 | 49,843 | ||||||
DMG Mori Co. Ltd. |
700 | 11,249 | ||||||
Dowa Holdings Co. Ltd. |
3,100 | 100,932 | ||||||
East Japan Railway Co. |
500 | 25,350 | ||||||
Ebara Corp. |
1,500 | 63,759 | ||||||
Electric Power Development Co. Ltd. |
10,976 | 175,178 | ||||||
ENEOS Holdings, Inc. |
93,920 | 324,271 | ||||||
EXEO Group, Inc. |
1,972 | 34,586 | ||||||
Ezaki Glico Co. Ltd. |
900 | 22,597 | ||||||
Fancl Corp. |
200 | 3,706 | ||||||
FANUC Corp. |
196 | 33,339 | ||||||
Fast Retailing Co. Ltd. |
33 | 6,517 | ||||||
FP Corp. |
400 | 10,146 | ||||||
Frontier Real Estate Investment Corp. REIT |
5 | 18,427 | ||||||
Fuji Electric Co. Ltd. |
1,288 | 49,737 | ||||||
Fuji Media Holdings, Inc. |
1,700 | 14,265 | ||||||
FUJIFILM Holdings Corp. |
651 | 30,367 | ||||||
Fujitsu Ltd. |
242 | 31,126 | ||||||
Fukuoka Financial Group, Inc. |
900 | 20,086 | ||||||
Furukawa Electric Co. Ltd. |
900 | 15,732 | ||||||
Fuyo General Lease Co. Ltd. |
300 | 20,659 | ||||||
GLP J REIT (b) |
9 | 9,455 | ||||||
Goldwin, Inc. |
300 | 26,054 | ||||||
GS Yuasa Corp. |
638 | 11,503 | ||||||
GungHo Online Entertainment, Inc. |
800 | 14,395 | ||||||
H.U. Group Holdings, Inc. |
3,000 | 59,024 | ||||||
Hachijuni Bank Ltd. |
4,200 | 18,993 | ||||||
Hakuhodo DY Holdings, Inc. |
569 | 6,341 | ||||||
Hamamatsu Photonics KK |
950 | 46,588 | ||||||
Hankyu Hanshin Holdings, Inc. |
2,467 | 70,180 | ||||||
Haseko Corp. |
13,197 | 151,429 | ||||||
Heiwa Corp. |
1,100 | 20,633 | ||||||
Hikari Tsushin, Inc. |
100 | 14,514 | ||||||
Hirogin Holdings, Inc. |
1,600 | 8,093 | ||||||
Hirose Electric Co. Ltd. |
440 | 53,783 |
See Notes to Financial Statements. | 11 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
Japan (Continued) | ||||||||
Hisamitsu Pharmaceutical Co., Inc. |
500 | $ | 14,022 | |||||
Hitachi Construction Machinery Co. Ltd. |
600 | 13,413 | ||||||
Hitachi Ltd. |
1,046 | 52,909 | ||||||
Honda Motor Co. Ltd. |
4,245 | 110,383 | ||||||
Horiba Ltd. |
300 | 15,989 | ||||||
Hoshizaki Corp. |
626 | 22,174 | ||||||
House Foods Group, Inc. |
857 | 16,993 | ||||||
Hoya Corp. |
200 | 19,778 | ||||||
Hulic Co. Ltd. |
3,248 | 25,848 | ||||||
Ibiden Co. Ltd. |
200 | 6,864 | ||||||
Idemitsu Kosan Co. Ltd. |
10,225 | 227,823 | ||||||
IHI Corp. |
1,000 | 25,952 | ||||||
Iida Group Holdings Co. Ltd. |
600 | 9,968 | ||||||
Industrial & Infrastructure Fund Investment Corp. REIT |
9 | 9,488 | ||||||
INFRONEER Holdings, Inc.* |
1,484 | 11,254 | ||||||
Inpex Corp. |
6,499 | 68,370 | ||||||
Internet Initiative Japan, Inc. |
1,400 | 28,048 | ||||||
Isetan Mitsukoshi Holdings Ltd. |
1,500 | 15,318 | ||||||
Isuzu Motors Ltd. |
3,700 | 44,248 | ||||||
ITOCHU Corp. |
6,536 | 195,243 | ||||||
Itochu Techno-Solutions Corp. |
800 | 17,795 | ||||||
Itoham Yonekyu Holdings, Inc. |
2,600 | 13,628 | ||||||
Iwatani Corp. |
1,000 | 41,332 | ||||||
Iyogin Holdings, Inc. |
1,000 | 5,954 | ||||||
Izumi Co. Ltd. |
800 | 17,478 | ||||||
J. Front Retailing Co. Ltd. (b) |
2,165 | 20,090 | ||||||
Japan Aviation Electronics Industry Ltd. |
1,000 | 16,591 | ||||||
Japan Logistics Fund, Inc. REIT |
3 | 6,484 | ||||||
Japan Metropolitan Fund Invest REIT (b) |
16 | 12,016 | ||||||
Japan Post Holdings Co. Ltd. |
4,200 | 37,309 | ||||||
Japan Post Insurance Co. Ltd. |
700 | 12,138 | ||||||
Japan Prime Realty Investment Corp. REIT |
7 | 18,474 | ||||||
Japan Real Estate Investment Corp. REIT |
6 | 24,843 | ||||||
Japan Steel Works Ltd. |
200 | 3,757 | ||||||
Japan Tobacco, Inc. |
5,064 | 102,960 | ||||||
JFE Holdings, Inc. |
3,900 | 48,272 | ||||||
JTEKT Corp. |
3,700 | 27,625 | ||||||
Kadokawa Corp. |
400 | 7,973 | ||||||
Kagome Co. Ltd. |
665 | 14,695 | ||||||
Kajima Corp. |
8,800 | 105,110 | ||||||
Kaken Pharmaceutical Co. Ltd. |
647 | 17,218 | ||||||
Kamigumi Co. Ltd. |
5,632 | 111,387 | ||||||
Kandenko Co. Ltd. |
6,592 | 43,264 | ||||||
Kaneka Corp. |
1,122 | 28,170 | ||||||
Kansai Electric Power Co., Inc. |
21,011 | 197,747 | ||||||
Kansai Paint Co. Ltd. |
488 | 6,542 | ||||||
Kao Corp. |
1,053 | 39,348 | ||||||
Kawasaki Heavy Industries Ltd. |
1,743 | 38,055 | ||||||
KDDI Corp. |
1,829 | 53,521 | ||||||
Keihan Holdings Co. Ltd. |
1,200 | 29,512 | ||||||
Keikyu Corp. |
4,300 | 40,059 | ||||||
Keio Corp. |
400 | 13,934 | ||||||
Keisei Electric Railway Co. Ltd. |
600 | 17,333 | ||||||
Kenedix Office Investment Corp. REIT |
4 | 9,382 | ||||||
Kewpie Corp. |
1,659 | 26,807 |
Number |
Value |
|||||||
Japan (Continued) | ||||||||
Keyence Corp. |
11 | $ | 4,756 | |||||
Kikkoman Corp. |
473 | 22,119 | ||||||
Kinden Corp. |
3,600 | 40,410 | ||||||
Kintetsu Group Holdings Co. Ltd. |
1,900 | 57,538 | ||||||
Kirin Holdings Co. Ltd. |
2,712 | 40,596 | ||||||
Kobayashi Pharmaceutical Co. Ltd. |
526 | 31,665 | ||||||
Kobe Bussan Co. Ltd. |
300 | 8,204 | ||||||
Kobe Steel Ltd. |
1,300 | 8,799 | ||||||
Koei Tecmo Holdings Co. Ltd. |
724 | 12,129 | ||||||
Koito Manufacturing Co. Ltd. |
600 | 10,074 | ||||||
Kokuyo Co. Ltd. |
4,100 | 56,406 | ||||||
Komatsu Ltd. |
3,870 | 92,620 | ||||||
Konami Group Corp. |
1,182 | 52,152 | ||||||
Kose Corp. |
200 | 22,597 | ||||||
K’s Holdings Corp. |
8,211 | 70,768 | ||||||
Kubota Corp. |
1,700 | 25,653 | ||||||
Kuraray Co. Ltd. |
13,381 | 119,944 | ||||||
Kurita Water Industries Ltd. |
828 | 37,444 | ||||||
Kyocera Corp. |
1,672 | 82,339 | ||||||
Kyowa Kirin Co. Ltd. |
500 | 10,700 | ||||||
Kyudenko Corp. |
499 | 12,602 | ||||||
Kyushu Electric Power Co., Inc. |
19,464 | 103,454 | ||||||
Kyushu Financial Group, Inc. |
2,400 | 9,144 | ||||||
Kyushu Railway Co. |
3,800 | 83,105 | ||||||
LaSalle Logiport REIT (b) |
7 | 7,960 | ||||||
Lawson, Inc. |
600 | 23,610 | ||||||
Lintec Corp. |
2,613 | 42,797 | ||||||
Lion Corp. |
2,206 | 23,774 | ||||||
Lixil Corp. |
1,411 | 22,489 | ||||||
Mabuchi Motor Co. Ltd. |
1,100 | 30,444 | ||||||
Marubeni Corp. |
22,791 | 291,130 | ||||||
Marui Group Co. Ltd. |
1,379 | 20,997 | ||||||
Maruichi Steel Tube Ltd. |
3,150 | 68,358 | ||||||
MatsukiyoCocokara & Co. |
197 | 9,155 | ||||||
Mazda Motor Corp. |
16,000 | 144,125 | ||||||
Mebuki Financial Group, Inc. |
5,600 | 15,047 | ||||||
Medipal Holdings Corp. |
6,451 | 84,536 | ||||||
MEIJI Holdings Co. Ltd. |
1,669 | 76,457 | ||||||
MINEBEA MITSUMI, Inc. |
1,471 | 25,507 | ||||||
MISUMI Group, Inc. |
940 | 22,359 | ||||||
Mitsubishi Chemical Group Corp. |
12,302 | 71,618 | ||||||
Mitsubishi Corp. |
4,636 | 157,545 | ||||||
Mitsubishi Electric Corp. |
11,874 | 133,633 | ||||||
Mitsubishi Estate Co. Ltd. |
2,600 | 32,363 | ||||||
Mitsubishi Gas Chemical Co., Inc. |
3,067 | 43,433 | ||||||
Mitsubishi HC Capital, Inc. |
8,050 | 42,018 | ||||||
Mitsubishi Heavy Industries Ltd. |
3,913 | 144,064 | ||||||
Mitsubishi Logistics Corp. |
2,000 | 46,397 | ||||||
Mitsubishi Materials Corp. |
4,000 | 62,254 | ||||||
Mitsubishi Motors Corp.* |
10,300 | 40,606 | ||||||
Mitsubishi UFJ Financial Group, Inc. |
1,200 | 8,502 | ||||||
Mitsui & Co. Ltd. |
11,325 | 317,930 | ||||||
Mitsui Chemicals, Inc. |
2,200 | 53,056 | ||||||
Mitsui Fudosan Co. Ltd. |
1,700 | 32,386 | ||||||
Mitsui Fudosan Logistics Park, Inc. REIT |
1 | 3,333 | ||||||
Mitsui Mining & Smelting Co. Ltd. |
900 | 22,167 | ||||||
Mitsui OSK Lines Ltd. (b) |
2,374 | 62,045 |
See Notes to Financial Statements. | 12 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
Japan (Continued) | ||||||||
Mizuho Financial Group, Inc. |
3,080 | $ | 47,992 | |||||
MonotaRO Co. Ltd. |
500 | 6,798 | ||||||
Mori Hills REIT Investment Corp. REIT |
11 | 12,372 | ||||||
Morinaga & Co. Ltd. |
1,800 | 51,933 | ||||||
MS&AD Insurance Group Holdings, Inc. |
1,800 | 58,831 | ||||||
Murata Manufacturing Co. Ltd. |
317 | 17,035 | ||||||
Nabtesco Corp. |
800 | 20,673 | ||||||
Nagase & Co. Ltd. |
965 | 14,332 | ||||||
Nagoya Railroad Co. Ltd. |
2,800 | 42,489 | ||||||
Nankai Electric Railway Co. Ltd. |
2,018 | 40,889 | ||||||
NEC Corp. |
400 | 14,316 | ||||||
NEC Networks & System Integration Corp. |
1,100 | 13,486 | ||||||
Nexon Co. Ltd. |
900 | 19,504 | ||||||
NGK Insulators Ltd. |
6,477 | 85,970 | ||||||
NGK Spark Plug Co. Ltd. (b) |
4,002 | 80,472 | ||||||
NH Foods Ltd. |
500 | 13,802 | ||||||
NHK Spring Co. Ltd. |
11,400 | 75,908 | ||||||
Nichirei Corp. |
1,000 | 19,733 | ||||||
Nifco, Inc. |
1,461 | 38,505 | ||||||
Nihon Kohden Corp. |
800 | 20,027 | ||||||
Nikon Corp. |
4,900 | 48,563 | ||||||
Nintendo Co. Ltd. |
1,650 | 62,068 | ||||||
Nippon Accommodations Fund, Inc. REIT (b) |
4 | 17,825 | ||||||
Nippon Building Fund, Inc. REIT |
8 | 33,770 | ||||||
Nippon Electric Glass Co. Ltd. |
4,300 | 79,993 | ||||||
NIPPON EXPRESS HOLDINGS, Inc. |
1,136 | 63,382 | ||||||
Nippon Kayaku Co. Ltd. |
7,200 | 63,218 | ||||||
Nippon Prologis REIT, Inc. REIT |
5 | 10,667 | ||||||
Nippon Sanso Holdings Corp. |
659 | 11,747 | ||||||
Nippon Shinyaku Co. Ltd. |
200 | 8,956 | ||||||
Nippon Shokubai Co. Ltd. |
1,700 | 70,514 | ||||||
Nippon Steel Corp. |
8,413 | 187,573 | ||||||
Nippon Telegraph & Telephone Corp. |
791 | 22,920 | ||||||
Nippon Television Holdings, Inc. |
1,700 | 13,990 | ||||||
Nippon Yusen KK (b) |
3,900 | 101,125 | ||||||
Nipro Corp. |
600 | 4,563 | ||||||
Nishi-Nippon Railroad Co. Ltd. |
2,600 | 45,295 | ||||||
Nissan Chemical Corp. |
1,083 | 47,545 | ||||||
Nissan Motor Co. Ltd. |
7,500 | 29,050 | ||||||
Nisshin Seifun Group, Inc. |
1,678 | 19,390 | ||||||
Nissin Foods Holdings Co. Ltd. |
1,084 | 90,244 | ||||||
Nitori Holdings Co. Ltd. |
232 | 26,229 | ||||||
Nitto Denko Corp. |
2,343 | 141,046 | ||||||
Noevir Holdings Co. Ltd. |
300 | 11,893 | ||||||
NOF Corp. |
707 | 30,052 | ||||||
NOK Corp. |
3,400 | 33,322 | ||||||
Nomura Real Estate Holdings, Inc. |
1,386 | 30,881 | ||||||
Nomura Real Estate Master Fund, Inc. REIT (b) |
15 | 16,628 | ||||||
Nomura Research Institute Ltd. |
330 | 7,365 | ||||||
NS Solutions Corp. |
600 | 15,637 | ||||||
NSK Ltd. |
4,800 | 26,570 | ||||||
NTT Data Corp. |
917 | 12,723 | ||||||
Obayashi Corp. |
17,462 | 129,092 | ||||||
Obic Co. Ltd. |
100 | 14,639 |
Number |
Value |
|||||||
Japan (Continued) | ||||||||
Odakyu Electric Railway Co. Ltd. |
700 | $ | 8,484 | |||||
Oji Holdings Corp. |
30,588 | 124,180 | ||||||
OKUMA Corp. |
600 | 24,138 | ||||||
Olympus Corp. |
1,000 | 16,841 | ||||||
Omron Corp. |
100 | 5,368 | ||||||
Ono Pharmaceutical Co. Ltd. |
4,777 | 97,493 | ||||||
Open House Group Co. Ltd. |
380 | 13,670 | ||||||
Oracle Corp. |
300 | 20,438 | ||||||
Oriental Land Co. Ltd. |
100 | 15,971 | ||||||
ORIX Corp. |
5,836 | 104,604 | ||||||
Orix JREIT, Inc. REIT (b) |
13 | 17,408 | ||||||
Osaka Gas Co. Ltd. |
15,729 | 255,539 | ||||||
OSG Corp. |
1,700 | 24,199 | ||||||
Otsuka Corp. |
508 | 17,118 | ||||||
Otsuka Holdings Co. Ltd. |
1,634 | 49,590 | ||||||
PALTAC Corp. |
882 | 32,052 | ||||||
Pan Pacific International Holdings Corp. |
4,599 | 84,069 | ||||||
Panasonic Holdings Corp. |
2,272 | 19,799 | ||||||
Penta-Ocean Construction Co. Ltd. |
1,520 | 7,242 | ||||||
Persol Holdings Co. Ltd. |
1,629 | 32,612 | ||||||
Pigeon Corp. |
400 | 6,161 | ||||||
Recruit Holdings Co. Ltd. |
326 | 8,865 | ||||||
Relo Group, Inc. |
800 | 12,768 | ||||||
Rengo Co. Ltd. |
7,312 | 47,453 | ||||||
Resona Holdings, Inc. |
5,500 | 30,279 | ||||||
Resonac Holdings Corp. |
1,100 | 18,065 | ||||||
Resorttrust, Inc. |
500 | 7,815 | ||||||
Ricoh Co. Ltd. |
2,100 | 16,311 | ||||||
Rinnai Corp. |
517 | 36,247 | ||||||
Rohm Co. Ltd. |
414 | 31,852 | ||||||
Rohto Pharmaceutical Co. Ltd. |
3,322 | 60,360 | ||||||
Ryohin Keikaku Co. Ltd. |
500 | 5,032 | ||||||
Sankyo Co. Ltd. |
3,009 | 122,600 | ||||||
Sankyu, Inc. |
1,700 | 62,526 | ||||||
Sanrio Co. Ltd. |
500 | 15,141 | ||||||
Santen Pharmaceutical Co. Ltd. |
1,600 | 12,216 | ||||||
Sanwa Holdings Corp. |
4,100 | 43,223 | ||||||
Sapporo Holdings Ltd. |
800 | 18,794 | ||||||
SBI Holdings, Inc. |
600 | 12,937 | ||||||
SCREEN Holdings Co. Ltd. |
200 | 15,960 | ||||||
SCSK Corp. |
1,000 | 14,499 | ||||||
Secom Co. Ltd. |
2,635 | 153,266 | ||||||
Sega Sammy Holdings, Inc. |
7,000 | 119,634 | ||||||
Seibu Holdings, Inc. |
2,200 | 22,143 | ||||||
Seiko Epson Corp. |
1,651 | 22,750 | ||||||
Seino Holdings Co. Ltd. |
5,800 | 59,825 | ||||||
Sekisui Chemical Co. Ltd. |
9,001 | 120,595 | ||||||
Sekisui House Ltd. |
6,036 | 114,304 | ||||||
Sekisui House Reit, Inc. REIT |
20 | 10,586 | ||||||
Seven & i Holdings Co. Ltd. (b) |
2,700 | 120,714 | ||||||
Seven Bank Ltd. |
7,200 | 14,483 | ||||||
SG Holdings Co. Ltd. |
1,160 | 16,717 | ||||||
Shikoku Electric Power Co., Inc. |
6,200 | 33,272 | ||||||
Shimadzu Corp. |
1,196 | 34,550 | ||||||
Shimamura Co. Ltd. |
1,300 | 121,396 | ||||||
Shimano, Inc. |
100 | 15,575 | ||||||
Shimizu Corp. |
7,946 | 42,876 |
See Notes to Financial Statements. | 13 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
Japan (Continued) | ||||||||
Shin-Etsu Chemical Co. Ltd. |
300 | $ | 42,176 | |||||
Shinko Electric Industries Co. Ltd. |
300 | 8,226 | ||||||
Shionogi & Co. Ltd. |
800 | 35,585 | ||||||
Ship Healthcare Holdings, Inc. |
600 | 10,827 | ||||||
Shiseido Co. Ltd. |
400 | 18,415 | ||||||
Shizuoka Financial Group, Inc. |
1,000 | 7,987 | ||||||
SHO-BOND Holdings Co. Ltd. |
1,149 | 45,297 | ||||||
Skylark Holdings Co. Ltd.* |
1,800 | 21,064 | ||||||
SMC Corp. |
53 | 26,886 | ||||||
SoftBank Corp. |
3,405 | 38,433 | ||||||
Sohgo Security Services Co. Ltd. |
887 | 23,280 | ||||||
Sojitz Corp. |
12,620 | 242,181 | ||||||
Sompo Holdings, Inc. |
1,900 | 81,445 | ||||||
Sony Group Corp. |
208 | 17,454 | ||||||
Sotetsu Holdings, Inc. |
1,200 | 20,412 | ||||||
Square Enix Holdings Co. Ltd. |
800 | 35,649 | ||||||
Stanley Electric Co. Ltd. |
2,131 | 44,430 | ||||||
Subaru Corp. |
4,464 | 71,688 | ||||||
Sugi Holdings Co. Ltd. |
335 | 14,018 | ||||||
Sumitomo Bakelite Co. Ltd. |
400 | 13,963 | ||||||
Sumitomo Chemical Co. Ltd. |
30,700 | 107,506 | ||||||
Sumitomo Corp. |
11,832 | 201,782 | ||||||
Sumitomo Electric Industries Ltd. |
9,526 | 117,174 | ||||||
Sumitomo Forestry Co. Ltd. |
8,283 | 158,892 | ||||||
Sumitomo Heavy Industries Ltd. |
3,249 | 76,446 | ||||||
Sumitomo Metal Mining Co. Ltd. |
3,669 | 136,293 | ||||||
Sumitomo Mitsui Financial Group, Inc. |
500 | 21,921 | ||||||
Sumitomo Mitsui Trust Holdings, Inc. |
600 | 22,222 | ||||||
Sumitomo Realty & Development Co. Ltd. |
771 | 18,197 | ||||||
Sumitomo Rubber Industries Ltd. |
4,500 | 40,502 | ||||||
Sundrug Co. Ltd. |
1,688 | 45,665 | ||||||
Suntory Beverage & Food Ltd. |
1,474 | 51,725 | ||||||
Suzuken Co. Ltd. |
5,084 | 128,392 | ||||||
Suzuki Motor Corp. |
1,342 | 47,122 | ||||||
Sysmex Corp. |
127 | 7,609 | ||||||
Taiheiyo Cement Corp. |
1,000 | 18,375 | ||||||
Taisei Corp. |
5,334 | 173,865 | ||||||
Taisho Pharmaceutical Holdings Co. Ltd. |
200 | 7,885 | ||||||
Takashimaya Co. Ltd. (b) |
5,400 | 75,164 | ||||||
Takeda Pharmaceutical Co. Ltd. |
500 | 15,461 | ||||||
TDK Corp. |
330 | 11,047 | ||||||
TechnoPro Holdings, Inc. |
387 | 9,830 | ||||||
Teijin Ltd. |
5,620 | 58,380 | ||||||
Terumo Corp. |
216 | 5,805 | ||||||
THK Co. Ltd. |
800 | 17,913 | ||||||
TIS, Inc. |
2,700 | 66,997 | ||||||
Tobu Railway Co. Ltd. |
2,200 | 49,099 | ||||||
Toda Corp. |
4,400 | 22,934 | ||||||
Toho Co. Ltd. |
1,659 | 57,730 | ||||||
Toho Gas Co. Ltd. |
300 | 5,632 | ||||||
Tohoku Electric Power Co., Inc. |
6,619 | 31,536 | ||||||
Tokio Marine Holdings, Inc. |
2,700 | 57,294 | ||||||
Tokyo Electric Power Co. Holdings, Inc.* |
29,404 | 97,571 | ||||||
Tokyo Electron Ltd. |
50 | 17,146 | ||||||
Tokyo Gas Co. Ltd. |
13,759 | 265,453 | ||||||
Tokyo Ohka Kogyo Co. Ltd. |
500 | 26,392 | ||||||
Tokyo Tatemono Co. Ltd. |
1,600 | 19,593 |
Number |
Value |
|||||||
Japan (Continued) | ||||||||
Tokyu Corp. |
2,600 | $ | 31,303 | |||||
Tokyu Fudosan Holdings Corp. |
1,922 | 9,284 | ||||||
TOPPAN, Inc. |
11,065 | 200,074 | ||||||
Toray Industries, Inc. |
19,000 | 108,687 | ||||||
Toshiba Corp. |
4,300 | 133,121 | ||||||
Toshiba TEC Corp. |
391 | 10,908 | ||||||
Tosoh Corp. |
10,641 | 144,677 | ||||||
TOTO Ltd. |
1,080 | 36,036 | ||||||
Toyo Seikan Group Holdings Ltd. |
9,221 | 119,887 | ||||||
Toyo Suisan Kaisha Ltd. |
1,000 | 40,451 | ||||||
Toyo Tire Corp. |
1,000 | 11,834 | ||||||
Toyoda Gosei Co. Ltd. |
1,484 | 24,164 | ||||||
Toyota Boshoku Corp. |
3,500 | 54,421 | ||||||
Toyota Industries Corp. |
298 | 17,480 | ||||||
Toyota Motor Corp. |
500 | 6,837 | ||||||
Toyota Tsusho Corp. |
2,023 | 82,574 | ||||||
Trend Micro, Inc. |
1,139 | 53,599 | ||||||
TS Tech Co. Ltd. |
5,058 | 64,128 | ||||||
Tsumura & Co. |
300 | 5,706 | ||||||
Tsuruha Holdings, Inc. |
128 | 9,012 | ||||||
UBE Corp. |
2,993 | 44,868 | ||||||
Ulvac, Inc. |
200 | 7,664 | ||||||
Unicharm Corp. |
877 | 32,469 | ||||||
United Urban Investment Corp. REIT |
14 | 15,458 | ||||||
Ushio, Inc. |
1,901 | 21,715 | ||||||
USS Co. Ltd. |
5,800 | 94,059 | ||||||
Yakult Honsha Co. Ltd. |
1,600 | 109,122 | ||||||
Yamada Holdings Co. Ltd. (b) |
15,857 | 55,761 | ||||||
Yamaha Corp. |
481 | 18,256 | ||||||
Yamaha Motor Co. Ltd. |
3,700 | 94,663 | ||||||
Yamato Holdings Co. Ltd. |
3,700 | 62,502 | ||||||
Yamato Kogyo Co. Ltd. |
1,600 | 64,016 | ||||||
Yamazaki Baking Co. Ltd. |
1,553 | 18,025 | ||||||
Yaoko Co. Ltd. |
200 | 10,072 | ||||||
Yaskawa Electric Corp. |
300 | 11,805 | ||||||
Yokogawa Electric Corp. |
3,600 | 53,756 | ||||||
Yokohama Rubber Co. Ltd. |
4,700 | 89,159 | ||||||
Zenkoku Hosho Co. Ltd. |
638 | 24,309 | ||||||
Zensho Holdings Co. Ltd. |
2,000 | 56,308 | ||||||
Zeon Corp. |
3,259 | 30,816 | ||||||
|
|
|||||||
(Cost $20,013,759) |
19,502,040 | |||||||
|
|
|||||||
Jordan — 0.0% | ||||||||
Hikma
Pharmaceuticals PLC |
895 | 18,767 | ||||||
|
|
|||||||
Luxembourg — 0.2% | ||||||||
ArcelorMittal SA |
385 | 11,614 | ||||||
Eurofins Scientific SE |
131 | 9,169 | ||||||
L’Occitane International SA |
5,604 | 13,365 | ||||||
RTL Group SA |
1,327 | 64,313 | ||||||
Tenaris SA |
721 | 11,989 | ||||||
|
|
|||||||
(Cost $105,372) |
110,450 | |||||||
|
|
|||||||
Mexico — 0.0% | ||||||||
Fresnillo
PLC |
716 | 6,617 | ||||||
|
|
See Notes to Financial Statements. | 14 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
Netherlands — 2.1% | ||||||||
Aalberts NV |
595 | $ | 29,051 | |||||
Aegon NV |
1,225 | 6,408 | ||||||
Akzo Nobel NV |
504 | 37,008 | ||||||
ASM International NV |
15 | 5,138 | ||||||
ASR Nederland NV |
819 | 37,400 | ||||||
BE Semiconductor Industries NV |
87 | 6,768 | ||||||
CTP NV, 144A |
301 | 4,162 | ||||||
EXOR NV* |
94 | 7,772 | ||||||
Heineken Holding NV |
645 | 55,372 | ||||||
Heineken NV |
248 | 25,380 | ||||||
IMCD NV |
250 | 39,742 | ||||||
JDE Peet’s NV |
915 | 27,015 | ||||||
Koninklijke Ahold Delhaize NV |
5,923 | 188,535 | ||||||
Koninklijke DSM NV |
480 | 59,405 | ||||||
Koninklijke KPN NV |
71,040 | 244,170 | ||||||
Koninklijke Philips NV |
1,109 | 18,171 | ||||||
Koninklijke Vopak NV |
356 | 11,394 | ||||||
NN Group NV |
980 | 39,805 | ||||||
OCI NV |
1,100 | 36,630 | ||||||
QIAGEN NV* |
1,970 | 91,005 | ||||||
Randstad NV |
2,923 | 180,101 | ||||||
Signify NV, 144A |
626 | 21,795 | ||||||
Stellantis NV |
3,794 | 66,606 | ||||||
Universal Music Group NV |
627 | 14,861 | ||||||
Wolters Kluwer NV |
1,083 | 125,706 | ||||||
|
|
|||||||
(Cost $1,279,928) |
1,379,400 | |||||||
|
|
|||||||
New Zealand — 0.9% | ||||||||
a2 Milk Co. Ltd.* |
2,538 | 11,368 | ||||||
Auckland International Airport Ltd.* |
6,270 | 33,951 | ||||||
Contact Energy Ltd. |
14,788 | 70,180 | ||||||
Fisher & Paykel Healthcare Corp. Ltd. |
1,848 | 29,745 | ||||||
Fletcher Building Ltd. |
11,068 | 32,572 | ||||||
Infratil Ltd. |
3,291 | 17,943 | ||||||
Kiwi Property Group Ltd. |
76,649 | 43,926 | ||||||
Mainfreight Ltd. |
2,122 | 95,775 | ||||||
Mercury NZ Ltd. |
7,764 | 30,160 | ||||||
Meridian Energy Ltd. |
14,995 | 49,331 | ||||||
Ryman Healthcare Ltd. |
2,502 | 8,154 | ||||||
SKYCITY Entertainment Group Ltd.* |
2,587 | 4,167 | ||||||
Spark New Zealand Ltd. |
60,469 | 187,318 | ||||||
|
|
|||||||
(Cost $637,504) |
614,590 | |||||||
|
|
|||||||
Norway — 1.3% | ||||||||
Aker ASA, Class A |
138 | 9,797 | ||||||
Aker BP ASA |
294 | 7,965 | ||||||
DNB Bank ASA |
240 | 4,815 | ||||||
Equinor ASA |
642 | 19,865 | ||||||
Gjensidige Forsikring ASA |
3,485 | 62,111 | ||||||
Kongsberg Gruppen ASA |
2,674 | 111,699 | ||||||
Leroy Seafood Group ASA |
6,081 | 30,386 | ||||||
Mowi ASA |
4,975 | 86,382 | ||||||
Norsk Hydro ASA |
12,735 | 93,126 | ||||||
Orkla ASA |
17,757 | 119,998 | ||||||
Salmar ASA |
498 | 20,793 | ||||||
Telenor ASA |
4,943 | 55,681 | ||||||
TOMRA Systems ASA |
1,863 | 29,901 | ||||||
Var Energi ASA (b) |
6,886 | 19,703 |
Number |
Value |
|||||||
Norway (Continued) | ||||||||
Yara International ASA |
3,725 | $ | 177,888 | |||||
|
|
|||||||
(Cost $921,117) |
850,110 | |||||||
|
|
|||||||
Poland — 0.4% | ||||||||
Dino Polska SA, 144A* |
369 | 30,903 | ||||||
KGHM Polska Miedz SA |
581 | 16,682 | ||||||
Polski Koncern Naftowy ORLEN SA |
15,379 | 231,044 | ||||||
Powszechny Zaklad Ubezpieczen SA |
1,569 | 12,949 | ||||||
|
|
|||||||
(Cost $315,291) |
291,578 | |||||||
|
|
|||||||
Portugal — 0.5% | ||||||||
EDP — Energias de Portugal SA |
17,464 | 88,454 | ||||||
Galp Energia SGPS SA |
7,481 | 91,713 | ||||||
Jeronimo Martins SGPS SA |
5,824 | 119,945 | ||||||
|
|
|||||||
(Cost $285,122) |
300,112 | |||||||
|
|
|||||||
Russia — 0.0% | ||||||||
Evraz
PLC* (c) |
4,559 | 0 | ||||||
|
|
|||||||
Singapore — 3.9% | ||||||||
BOC Aviation Ltd., 144A |
2,262 | 16,339 | ||||||
CapitaLand Ascendas REIT |
72,636 | 149,465 | ||||||
CapitaLand Ascott Trust (a) |
61,300 | 45,993 | ||||||
CapitaLand Integrated Commercial Trust REIT |
88,674 | 127,792 | ||||||
Capitaland Investment Ltd. |
20,700 | 57,203 | ||||||
City Developments Ltd. |
2,500 | 14,319 | ||||||
ComfortDelGro Corp. Ltd. |
151,344 | 136,037 | ||||||
DBS Group Holdings Ltd. |
1,326 | 33,658 | ||||||
Frasers Logistics & Commercial Trust REIT |
169,700 | 160,100 | ||||||
Genting Singapore Ltd. |
110,900 | 84,031 | ||||||
Jardine Cycle & Carriage Ltd. |
6,705 | 147,982 | ||||||
Kenon Holdings Ltd. |
395 | 11,062 | ||||||
Keppel REIT |
41,800 | 28,723 | ||||||
Keppel Corp. Ltd. |
27,262 | 110,980 | ||||||
Keppel DC REIT |
34,600 | 50,892 | ||||||
Mapletree Industrial Trust REIT |
46,878 | 82,184 | ||||||
Mapletree Logistics Trust REIT |
65,267 | 81,938 | ||||||
Mapletree Pan Asia Commercial Trust REIT |
20,991 | 26,821 | ||||||
NETLINK NBN TRUST |
62,100 | 39,904 | ||||||
Olam Group Ltd. |
22,264 | 25,470 | ||||||
Oversea-Chinese Banking Corp. Ltd. |
4,762 | 44,820 | ||||||
SATS Ltd.* |
8,465 | 17,796 | ||||||
Sembcorp Industries Ltd. |
44,653 | 120,410 | ||||||
Sembcorp Marine Ltd.* (c) |
520,704 | 49,125 | ||||||
SIA Engineering Co. Ltd.* (b) |
11,200 | 19,219 | ||||||
Singapore Airlines Ltd. |
15,900 | 67,207 | ||||||
Singapore Exchange Ltd. |
29,380 | 190,097 | ||||||
Singapore Post Ltd. |
94,700 | 37,637 | ||||||
Singapore Technologies Engineering Ltd. |
54,828 | 145,404 | ||||||
Singapore Telecommunications Ltd. |
36,266 | 63,849 | ||||||
StarHub Ltd. |
40,000 | 31,497 | ||||||
Suntec Real Estate Investment Trust REIT |
82,300 | 86,815 | ||||||
United Overseas Bank Ltd. |
1,900 | 42,230 | ||||||
UOL Group Ltd. |
7,029 | 35,663 |
See Notes to Financial Statements. | 15 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
Singapore (Continued) | ||||||||
Venture Corp. Ltd. |
6,562 | $ | 83,698 | |||||
Wilmar International Ltd. |
30,400 | 88,977 | ||||||
|
|
|||||||
(Cost $2,637,504) |
2,555,337 | |||||||
|
|
|||||||
South Korea — 4.0% | ||||||||
AMOREPACIFIC Group |
96 | 2,902 | ||||||
BGF retail Co. Ltd. |
210 | 28,677 | ||||||
BNK Financial Group, Inc. |
2,306 | 11,676 | ||||||
Cheil Worldwide, Inc. |
4,238 | 64,054 | ||||||
CJ CheilJedang Corp. |
214 | 51,913 | ||||||
CJ Corp. |
328 | 21,540 | ||||||
CJ ENM Co. Ltd.* |
51 | 3,573 | ||||||
CJ Logistics Corp. |
91 | 5,619 | ||||||
Coway Co. Ltd. |
374 | 15,093 | ||||||
Daewoo Engineering & Construction Co. Ltd.* |
1,453 | 4,727 | ||||||
DB Insurance Co. Ltd. |
1,056 | 61,449 | ||||||
DGB Financial Group, Inc. |
2,164 | 12,919 | ||||||
DL E&C Co. Ltd. |
309 | 7,706 | ||||||
DL Holdings Co. Ltd. |
466 | 20,742 | ||||||
Doosan Bobcat, Inc. |
370 | 10,597 | ||||||
E-MART, Inc. |
49 | 4,147 | ||||||
GS Engineering & Construction Corp. |
328 | 5,515 | ||||||
GS Holdings Corp. |
2,398 | 73,666 | ||||||
GS Retail Co. Ltd. |
174 | 3,794 | ||||||
Hana Financial Group, Inc. |
1,164 | 39,936 | ||||||
Hankook Tire & Technology Co. Ltd. |
1,470 | 41,326 | ||||||
Hanmi Pharm. Co. Ltd.* |
29 | 5,676 | ||||||
Hanwha Aerospace Co. Ltd. |
200 | 13,603 | ||||||
Hanwha Corp. |
1,108 | 22,566 | ||||||
HD Hyundai Co. Ltd. |
661 | 29,672 | ||||||
Hite Jinro Co. Ltd.* |
897 | 16,201 | ||||||
Hotel Shilla Co. Ltd. |
112 | 6,788 | ||||||
Hyundai Department Store Co. Ltd. |
612 | 25,114 | ||||||
Hyundai Engineering & Construction Co. Ltd. |
514 | 14,139 | ||||||
Hyundai Glovis Co. Ltd. |
751 | 90,012 | ||||||
Hyundai Marine & Fire Insurance Co. Ltd. |
1,922 | 51,127 | ||||||
Hyundai Mobis Co. Ltd. |
381 | 61,185 | ||||||
Hyundai Motor Co. |
109 | 14,522 | ||||||
Industrial Bank of Korea |
3,913 | 30,695 | ||||||
Kangwon Land, Inc.* |
754 | 11,510 | ||||||
KB Financial Group, Inc. |
1,826 | 70,791 | ||||||
KEPCO Plant Service & Engineering Co. Ltd.* |
744 | 18,217 | ||||||
Kia Corp. |
1,888 | 107,437 | ||||||
Korea Aerospace Industries Ltd.* |
240 | 8,180 | ||||||
Korea Electric Power Corp. |
2,343 | 31,960 | ||||||
Korea Gas Corp.* |
424 | 8,988 | ||||||
Korea Investment Holdings Co. Ltd.* |
93 | 4,357 | ||||||
Korea Zinc Co. Ltd. |
121 | 53,402 | ||||||
Korean Air Lines Co. Ltd. |
566 | 9,731 | ||||||
KT&G Corp. |
4,132 | 276,976 | ||||||
LG Corp. |
1,432 | 89,064 | ||||||
LG Display Co. Ltd. |
4,073 | 47,063 | ||||||
LG Electronics, Inc. |
321 | 26,975 | ||||||
LG H&H Co. Ltd. |
9 | 4,543 | ||||||
LG Innotek Co. Ltd. |
118 | 24,701 |
Number |
Value |
|||||||
South Korea (Continued) | ||||||||
LG Uplus Corp. |
6,905 | $ | 57,766 | |||||
Lotte Chemical Corp. |
190 | 25,587 | ||||||
Lotte Chilsung Beverage Co. Ltd. |
150 | 18,976 | ||||||
Lotte Corp. |
225 | 5,212 | ||||||
LOTTE Fine Chemical Co. Ltd. |
120 | 5,269 | ||||||
Lotte Shopping Co. Ltd. |
208 | 13,675 | ||||||
LS Corp. |
229 | 11,664 | ||||||
NAVER Corp. |
52 | 8,194 | ||||||
NCSoft Corp. |
18 | 5,910 | ||||||
NH Investment & Securities Co. Ltd.* |
1,761 | 12,643 | ||||||
NHN Corp.* |
266 | 5,830 | ||||||
NongShim Co. Ltd. |
144 | 39,829 | ||||||
Orion Corp. |
281 | 26,545 | ||||||
Ottogi Corp.* |
40 | 13,301 | ||||||
Pan Ocean Co. Ltd. |
820 | 3,923 | ||||||
POSCO Holdings, Inc. |
164 | 39,412 | ||||||
Posco International Corp. |
1,156 | 19,744 | ||||||
S-1 Corp. |
550 | 23,442 | ||||||
Samsung C&T Corp. |
813 | 67,645 | ||||||
Samsung Card Co. Ltd. |
164 | 3,805 | ||||||
Samsung Electro-Mechanics Co. Ltd. |
287 | 31,232 | ||||||
Samsung Electronics Co. Ltd. |
200 | 9,159 | ||||||
Samsung Engineering Co. Ltd.* |
760 | 15,077 | ||||||
Samsung Fire & Marine Insurance Co. Ltd. |
339 | 54,952 | ||||||
Samsung Life Insurance Co. Ltd. |
216 | 11,116 | ||||||
Samsung SDI Co. Ltd. |
14 | 7,364 | ||||||
Samsung SDS Co. Ltd. |
391 | 37,024 | ||||||
Samsung Securities Co. Ltd. |
193 | 4,886 | ||||||
Shinhan Financial Group Co. Ltd. |
598 | 17,557 | ||||||
Shinsegae, Inc. |
127 | 19,579 | ||||||
SK Hynix, Inc. |
873 | 58,981 | ||||||
SK Networks Co. Ltd. |
3,818 | 11,873 | ||||||
SK Telecom Co. Ltd. |
2,278 | 77,727 | ||||||
SK, Inc. |
105 | 14,172 | ||||||
S-Oil Corp. |
688 | 41,959 | ||||||
Woori Financial Group, Inc. |
9,681 | 89,256 | ||||||
Yuhan Corp. |
401 | 15,970 | ||||||
|
|
|||||||
(Cost $2,655,586) |
2,593,022 | |||||||
|
|
|||||||
Spain — 2.1% | ||||||||
Acciona SA |
174 | 32,864 | ||||||
ACS Actividades de Construccion y Servicios SA (b) |
975 | 29,634 | ||||||
Aena SME SA, 144A* |
66 | 10,247 | ||||||
Amadeus IT Group SA* |
83 | 5,228 | ||||||
Banco Santander SA |
2,589 | 10,221 | ||||||
Bankinter SA |
1,955 | 13,791 | ||||||
CaixaBank SA |
3,802 | 16,338 | ||||||
Corp ACCIONA Energias Renovables SA |
302 | 11,728 | ||||||
EDP Renovaveis SA |
306 | 6,299 | ||||||
Enagas SA (b) |
6,049 | 108,798 | ||||||
Endesa SA |
5,436 | 107,054 | ||||||
Ferrovial SA |
1,080 | 30,077 | ||||||
Iberdrola SA |
7,179 | 82,719 | ||||||
Industria de Diseno Textil SA |
531 | 16,381 | ||||||
Inmobiliaria Colonial Socimi SA REIT |
1,057 | 7,611 | ||||||
Mapfre SA (b) |
10,219 | 21,978 |
See Notes to Financial Statements. | 16 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
Spain (Continued) | ||||||||
Merlin Properties Socimi SA REIT |
4,168 | $ | 39,737 | |||||
Naturgy Energy Group SA |
1,432 | 39,576 | ||||||
Red Electrica Corp. SA |
13,919 | 231,897 | ||||||
Repsol SA |
18,096 | 287,958 | ||||||
Telefonica SA |
59,763 | 243,945 | ||||||
|
|
|||||||
(Cost $1,362,379) |
1,354,081 | |||||||
|
|
|||||||
Sweden — 4.8% | ||||||||
Alfa Laval AB |
1,611 | 53,295 | ||||||
Alleima AB* |
4,895 | 26,605 | ||||||
Assa Abloy AB, Class B |
3,490 | 85,371 | ||||||
Atlas Copco AB, Class B |
1,597 | 16,940 | ||||||
Axfood AB |
2,444 | 58,753 | ||||||
Boliden AB |
9,208 | 379,804 | ||||||
Castellum AB (b) |
2,503 | 32,126 | ||||||
Electrolux AB, Class B |
3,557 | 43,324 | ||||||
Epiroc AB, Class A |
3,606 | 69,675 | ||||||
Epiroc AB, Class B |
2,930 | 48,437 | ||||||
Essity AB, Class B (b) |
4,726 | 128,249 | ||||||
Fastighets AB Balder, Class B* (b) |
2,944 | 14,685 | ||||||
Getinge AB, Class B |
432 | 9,341 | ||||||
H & M Hennes & Mauritz AB, Class B (b) |
2,578 | 32,641 | ||||||
Hexagon AB, Class B |
929 | 10,347 | ||||||
Holmen AB, Class B |
2,252 | 91,345 | ||||||
Husqvarna AB, Class B |
1,441 | 12,839 | ||||||
Industrivarden AB, Class A |
9,050 | 250,102 | ||||||
Industrivarden AB, Class C (b) |
7,711 | 212,654 | ||||||
Indutrade AB |
1,086 | 23,222 | ||||||
Investment AB Latour, Class B (b) |
792 | 16,495 | ||||||
Investor AB, Class A |
3,993 | 82,321 | ||||||
Investor AB, Class B |
11,459 | 222,618 | ||||||
Kinnevik AB, Class B* (b) |
979 | 14,659 | ||||||
L E Lundbergforetagen AB, Class B |
1,486 | 69,351 | ||||||
Lifco AB, Class B |
312 | 6,271 | ||||||
Nibe Industrier AB, Class B |
1,340 | 13,929 | ||||||
Saab AB, Class B |
1,432 | 82,993 | ||||||
Sagax AB, Class B |
702 | 17,374 | ||||||
Sagax AB, Class D |
5,587 | 14,679 | ||||||
Sandvik AB |
2,124 | 43,952 | ||||||
Securitas AB, Class B |
6,489 | 56,237 | ||||||
Skandinaviska Enskilda Banken AB, Class A |
1,378 | 17,317 | ||||||
Skanska AB, Class B |
1,851 | 33,830 | ||||||
SKF AB, Class B |
2,414 | 46,145 | ||||||
Svenska Cellulosa AB SCA, Class B |
6,694 | 93,908 | ||||||
Svenska Handelsbanken AB, Class A |
1,297 | 13,817 | ||||||
Sweco AB, Class B |
842 | 9,931 | ||||||
Swedbank AB, Class A |
1,278 | 26,201 | ||||||
Swedish Orphan Biovitrum AB* |
1,233 | 28,506 | ||||||
Tele2 AB, Class B (b) |
13,531 | 125,000 | ||||||
Telefonaktiebolaget LM Ericsson, Class B |
9,645 | 53,734 | ||||||
Telia Co. AB |
38,385 | 99,564 | ||||||
Trelleborg AB, Class B |
5,892 | 152,772 | ||||||
Volvo AB, Class A |
676 | 14,144 | ||||||
Volvo AB, Class B |
5,932 | 119,339 | ||||||
Volvo Car AB, Class B* (b) |
4,773 | 22,637 | ||||||
|
|
|||||||
(Cost $2,967,999) |
3,097,479 | |||||||
|
|
Number |
Value |
|||||||
Switzerland — 3.4% | ||||||||
ABB Ltd. |
2,264 | $ | 75,559 | |||||
Accelleron Industries AG* |
112 | 2,772 | ||||||
Adecco Group AG |
1,662 | 59,334 | ||||||
Alcon, Inc. |
376 | 25,739 | ||||||
Baloise Holding AG |
325 | 54,268 | ||||||
Banque Cantonale Vaudoise |
96 | 8,599 | ||||||
Barry Callebaut AG |
29 | 57,984 | ||||||
Belimo Holding AG |
57 | 29,678 | ||||||
BKW AG |
227 | 33,278 | ||||||
Chocoladefabriken Lindt & Spruengli AG Participation Certificates |
5 | 55,055 | ||||||
Cie Financiere Richemont SA, Class A |
595 | 89,988 | ||||||
Clariant AG* |
2,600 | 42,305 | ||||||
Coca-Cola HBC AG* |
1,748 | 45,012 | ||||||
DKSH Holding AG |
2,045 | 167,026 | ||||||
Emmi AG |
35 | 33,086 | ||||||
EMS-Chemie Holding AG |
28 | 21,301 | ||||||
Flughafen Zurich AG* |
113 | 20,556 | ||||||
Geberit AG |
87 | 47,248 | ||||||
Georg Fischer AG |
696 | 47,526 | ||||||
Givaudan SA |
6 | 18,187 | ||||||
Glencore PLC |
16,631 | 99,735 | ||||||
Helvetia Holding AG |
177 | 22,794 | ||||||
Holcim AG* |
2,950 | 182,996 | ||||||
Julius Baer Group Ltd. |
50 | 3,327 | ||||||
Kuehne + Nagel International AG |
152 | 39,085 | ||||||
Logitech International SA |
347 | 19,060 | ||||||
Lonza Group AG |
23 | 13,762 | ||||||
Nestle SA |
127 | 14,374 | ||||||
Novartis AG |
518 | 43,816 | ||||||
Partners Group Holding AG |
19 | 18,115 | ||||||
PSP Swiss Property AG |
1,347 | 151,767 | ||||||
Roche Holding AG |
63 | 18,270 | ||||||
Schindler Holding AG |
53 | 11,451 | ||||||
Schindler Holding AG Participation Certificates |
105 | 23,683 | ||||||
SGS SA |
26 | 59,864 | ||||||
SIG Group AG* |
1,597 | 38,815 | ||||||
Sika AG |
71 | 19,991 | ||||||
Sonova Holding AG |
136 | 33,548 | ||||||
STMicroelectronics NV |
277 | 13,344 | ||||||
Straumann Holding AG |
71 | 9,458 | ||||||
Swatch Group AG — Bearer |
385 | 134,406 | ||||||
Swatch Group AG — Registered |
546 | 35,041 | ||||||
Swiss Life Holding AG |
42 | 25,373 | ||||||
Swiss Prime Site AG |
718 | 60,903 | ||||||
Swiss Re AG |
272 | 28,499 | ||||||
Swisscom AG |
170 | 105,274 | ||||||
Temenos AG |
78 | 5,766 | ||||||
UBS Group AG |
1,186 | 25,877 | ||||||
VAT Group AG, 144A |
25 | 7,586 | ||||||
Zurich Insurance Group AG |
59 | 28,101 | ||||||
|
|
|||||||
(Cost $2,037,833) |
2,228,582 | |||||||
|
|
|||||||
United Kingdom — 10.5% | ||||||||
3i Group PLC |
30,400 | 598,797 | ||||||
abrdn PLC (b) |
25,110 | 68,277 | ||||||
Admiral Group PLC |
3,768 | 100,404 |
See Notes to Financial Statements. | 17 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
United Kingdom (Continued) | ||||||||
Amcor PLC CDI |
17,181 | $ | 191,517 | |||||
Anglo American PLC |
3,681 | 128,545 | ||||||
Ashtead Group PLC |
156 | 10,406 | ||||||
Associated British Foods PLC |
1,732 | 42,084 | ||||||
Auto Trader Group PLC, 144A |
18,092 | 130,411 | ||||||
Aviva PLC |
6,501 | 35,134 | ||||||
B&M European Value Retail SA |
6,943 | 41,338 | ||||||
BAE Systems PLC |
20,726 | 225,326 | ||||||
Barratt Developments PLC |
10,222 | 58,052 | ||||||
Bellway PLC |
1,278 | 34,302 | ||||||
Berkeley Group Holdings PLC |
355 | 18,034 | ||||||
BP PLC |
2,434 | 16,222 | ||||||
British American Tobacco PLC |
1,251 | 47,609 | ||||||
British Land Co. PLC REIT |
32,191 | 174,088 | ||||||
BT Group PLC |
51,179 | 86,341 | ||||||
Bunzl PLC |
5,029 | 180,459 | ||||||
Burberry Group PLC |
3,960 | 118,224 | ||||||
Centrica PLC |
114,985 | 146,376 | ||||||
CNH Industrial NV |
931 | 15,328 | ||||||
Compass Group PLC |
1,390 | 32,310 | ||||||
ConvaTec Group PLC, 144A |
8,832 | 23,994 | ||||||
Croda International PLC |
620 | 49,255 | ||||||
Dechra Pharmaceuticals PLC |
210 | 6,951 | ||||||
Derwent London PLC REIT |
378 | 11,962 | ||||||
Diageo PLC |
772 | 32,983 | ||||||
Direct Line Insurance Group PLC |
18,081 | 39,478 | ||||||
DS Smith PLC |
8,361 | 34,142 | ||||||
Endeavour Mining PLC |
2,290 | 47,047 | ||||||
Ferguson PLC |
1,107 | 160,086 | ||||||
GSK PLC |
6,631 | 114,429 | ||||||
Haleon PLC* |
16,948 | 66,058 | ||||||
Halma PLC |
1,418 | 37,149 | ||||||
Hargreaves Lansdown PLC |
2,345 | 23,552 | ||||||
Howden Joinery Group PLC |
5,119 | 44,422 | ||||||
HSBC Holdings PLC |
1,107 | 8,518 | ||||||
IMI PLC |
1,064 | 20,056 | ||||||
Imperial Brands PLC |
15,972 | 387,697 | ||||||
Informa PLC |
4,792 | 38,777 | ||||||
InterContinental Hotels Group PLC |
671 | 45,540 | ||||||
International Distributions Services PLC |
2,101 | 5,982 | ||||||
Intertek Group PLC |
972 | 49,118 | ||||||
ITV PLC |
5,888 | 6,301 | ||||||
J Sainsbury PLC |
18,162 | 58,971 | ||||||
Johnson Matthey PLC |
4,170 | 110,156 | ||||||
Kingfisher PLC |
9,559 | 33,237 | ||||||
Land Securities Group PLC REIT |
21,378 | 178,011 | ||||||
Legal & General Group PLC |
3,513 | 10,883 | ||||||
Lloyds Banking Group PLC |
37,775 | 24,064 | ||||||
Mondi PLC |
5,492 | 92,852 | ||||||
National Grid PLC |
8,754 | 111,067 | ||||||
NatWest Group PLC |
1,941 | 6,869 | ||||||
Next PLC |
1,076 | 89,128 | ||||||
Pearson PLC |
6,343 | 70,525 | ||||||
Pennon Group PLC |
1,587 | 15,851 | ||||||
Pepco Group NV* |
1,234 | 12,254 | ||||||
Persimmon PLC |
1,523 | 26,781 | ||||||
Reckitt Benckiser Group PLC |
544 | 37,948 |
Number |
Value |
|||||||
United Kingdom (Continued) | ||||||||
RELX PLC |
2,343 | $ | 70,999 | |||||
Renishaw PLC |
59 | 2,853 | ||||||
Rentokil Initial PLC |
5,824 | 36,128 | ||||||
Rightmove PLC |
9,521 | 64,641 | ||||||
Rio Tinto PLC |
3,372 | 233,182 | ||||||
RS GROUP PLC |
10,405 | 123,134 | ||||||
Sage Group PLC |
16,399 | 148,623 | ||||||
Schroders PLC |
2,258 | 13,597 | ||||||
Segro PLC REIT |
25,713 | 256,320 | ||||||
Severn Trent PLC |
2,232 | 74,337 | ||||||
Shell PLC |
189 | 5,781 | ||||||
Smith & Nephew PLC |
2,964 | 42,558 | ||||||
Smiths Group PLC |
5,121 | 109,332 | ||||||
Spirax-Sarco Engineering PLC |
221 | 31,264 | ||||||
SSE PLC |
12,552 | 265,248 | ||||||
St James’s Place PLC |
651 | 10,100 | ||||||
Tate & Lyle PLC |
2,247 | 21,828 | ||||||
Taylor Wimpey PLC |
34,824 | 51,941 | ||||||
Tesco PLC |
81,437 | 251,409 | ||||||
Unilever PLC |
569 | 28,491 | ||||||
UNITE Group PLC REIT |
2,797 | 33,286 | ||||||
United Utilities Group PLC |
6,739 | 83,054 | ||||||
Vodafone Group PLC |
137,256 | 165,803 | ||||||
Weir Group PLC |
560 | 12,875 | ||||||
Whitbread PLC |
218 | 8,153 | ||||||
WPP PLC |
4,762 | 59,035 | ||||||
|
|
|||||||
(Cost $6,666,436) |
6,835,650 | |||||||
|
|
|||||||
United States — 0.1% | ||||||||
Waste
Connections, Inc. |
575 | 77,171 | ||||||
|
|
|||||||
TOTAL
COMMON STOCKS |
64,210,157 | |||||||
|
|
|||||||
PREFERRED STOCKS — 0.2% | ||||||||
Germany — 0.1% | ||||||||
Bayerische Motoren Werke AG |
221 | 21,035 | ||||||
FUCHS PETROLUB SE |
686 | 27,616 | ||||||
Henkel AG & Co. KGaA |
509 | 37,149 | ||||||
Sartorius AG |
11 | 4,696 | ||||||
|
|
|||||||
(Cost $88,339) |
90,496 | |||||||
|
|
|||||||
South Korea — 0.1% | ||||||||
CJ CheilJedang Corp. |
53 | 6,384 | ||||||
Hanwha Corp. |
1,820 | 19,600 | ||||||
Hyundai Motor Co. |
98 | 6,969 | ||||||
Samsung Fire & Marine Insurance Co. Ltd. |
86 | 10,431 | ||||||
|
|
|||||||
(Cost $48,356) |
43,384 | |||||||
|
|
|||||||
TOTAL
PREFERRED STOCKS |
133,880 | |||||||
|
|
|||||||
RIGHTS — 0.0% | ||||||||
Hong Kong — 0.0% | ||||||||
Link
REIT*, expires 3/27/23 |
1,668 | 1,573 | ||||||
|
|
See Notes to Financial Statements. | 18 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
New Zealand — 0.0% | ||||||||
Ryman
Healthcare Ltd.*, expires 3/6/23 |
890 | $ | 110 | |||||
|
|
|||||||
TOTAL
RIGHTS |
1,683 | |||||||
|
|
|||||||
WARRANTS — 0.0% | ||||||||
Switzerland — 0.0% | ||||||||
Cie
Financiere Richemont SA*, expires 11/22/23 |
826 | 969 | ||||||
|
|
|||||||
SECURITIES LENDING COLLATERAL — 1.4% | ||||||||
DWS
Government & Agency Securities Portfolio “DWS Government Cash
Institutional Shares”, 4.39% (d)(e) |
914,720 | 914,720 | ||||||
|
|
Number |
Value |
|||||||
CASH EQUIVALENTS — 0.1% | ||||||||
DWS
Government Money Market Series “Institutional Shares”, 4.51% (d) |
35,298 | $ | 35,298 | |||||
|
|
|||||||
TOTAL INVESTMENTS — 100.6% |
||||||||
(Cost $64,976,710) |
$ | 65,296,707 | ||||||
Other assets and liabilities, net — (0.6%) |
(408,721 | ) | ||||||
|
|
|||||||
NET ASSETS — 100.0% |
$ | 64,887,986 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2023 is as follows:
Value ($) at 8/31/2022 |
Purchases Cost ($) |
Sales Proceeds ($) |
Net Realized Gain/(Loss) ($) |
Net Change in Unrealized Appreciation (Depreciation) ($) |
Income ($) | Capital Gain Distributions ($) |
Number of Shares at 2/28/2023 |
Value ($) at 2/28/2023 |
||||||||||||||||||||||||||||
COMMON STOCKS — 0.0% |
| |||||||||||||||||||||||||||||||||||
Germany — 0.0% |
| |||||||||||||||||||||||||||||||||||
DEUTSCHE BANK AG (f) |
| |||||||||||||||||||||||||||||||||||
4,101 | — | (4,457 | ) | (1,511 | ) | 1,867 | — | — | — | — | ||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 1.4% |
| |||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 4.39% (d)(e) |
| |||||||||||||||||||||||||||||||||||
731,962 | 182,758 | (g) | — | — | — | 4,514 | — | 914,720 | 914,720 | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.1% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 4.51% (d) |
| |||||||||||||||||||||||||||||||||||
101,059 | 4,301,926 | (4,367,687 | ) | — | — | 1,989 | — | 35,298 | 35,298 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
837,122 | 4,484,684 | (4,372,144 | ) | (1,511 | ) | 1,867 | 6,503 | — | 950,018 | 950,018 | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
Non-income producing security. |
(a) |
Stapled Security — A security contractually bound to one or more other securities to form a single saleable unit which cannot be sold separately. |
(b) |
All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2023 amounted to $1,607,168, which is 2.5% of net assets. |
(c) |
Investment was valued using significant unobservable inputs. |
(d) |
Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
(e) |
Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund held non-cash U.S. Treasury securities collateral having a value of $1,029,377. |
(f) |
Affiliated issuer. This security is owned in proportion with its representation in the index. |
(g) |
Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2023. |
CDI: | Chess Depositary Interests |
CVA: | Credit Valuation Adjustment |
REIT: | Real Estate Investment Trust |
144A: | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
See Notes to Financial Statements. | 19 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2023 (Unaudited)
Securities are listed in country of domicile.
At February 28, 2023, open futures contracts purchased were as follows:
Contract Description |
Currency | Number of Contracts |
Notional Amount |
Contract Value |
Expiration Date |
Unrealized Appreciation |
||||||||||||
MINI TOPIX Index Futures |
JPY | 2 | $ | 28,505 | $ | 29,292 | 3/09/2023 | $ | 787 | |||||||||
MSCI EAFE Futures |
USD | 4 | 399,520 | 409,320 | 3/17/2023 | 9,800 | ||||||||||||
|
|
|||||||||||||||||
Total unrealized appreciation |
$ | 10,587 | ||||||||||||||||
|
|
For information on the Fund’s policy and additional disclosures regarding open futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
Currency Abbreviations
JPY | Japanese Yen |
USD | U.S. Dollar |
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2023 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
Assets |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stocks (a) |
$ | 64,159,950 | $ | — | $ | 50,207 | $ | 64,210,157 | ||||||||
Preferred Stocks (a) |
133,880 | — | — | 133,880 | ||||||||||||
Rights (a) |
110 | 1,573 | — | 1,683 | ||||||||||||
Warrants |
969 | — | — | 969 | ||||||||||||
Short-Term Investments (a) |
950,018 | — | — | 950,018 | ||||||||||||
Derivatives (b) |
||||||||||||||||
Futures Contracts |
10,587 | — | — | 10,587 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
TOTAL |
$ | 65,255,514 | $ | 1,573 | $ | 50,207 | $ | 65,307,294 | ||||||||
|
|
|
|
|
|
|
|
(a) |
See Schedule of Investments for additional detailed categorizations. |
(b) |
Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
See Notes to Financial Statements. | 20 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
COMMON STOCKS — 99.1% | ||||||||
Australia — 2.4% | ||||||||
Ampol Ltd. |
2,507 | $ | 55,722 | |||||
ANZ Group Holdings Ltd. |
31,385 | 521,705 | ||||||
APA Group (a) |
11,384 | 82,372 | ||||||
Aristocrat Leisure Ltd. |
6,908 | 170,218 | ||||||
ASX Ltd. |
2,193 | 100,621 | ||||||
Atlassian Corp., Class A* |
1,597 | 262,435 | ||||||
Aurizon Holdings Ltd. |
16,325 | 36,439 | ||||||
BHP Group Ltd. |
53,049 | 1,616,967 | ||||||
BlueScope Steel Ltd. |
5,167 | 66,412 | ||||||
Brambles Ltd. |
14,991 | 130,105 | ||||||
Cochlear Ltd. |
786 | 117,785 | ||||||
Coles Group Ltd. |
13,331 | 163,434 | ||||||
Commonwealth Bank of Australia |
17,969 | 1,220,101 | ||||||
Computershare Ltd. |
5,724 | 95,728 | ||||||
CSL Ltd. |
5,162 | 1,031,419 | ||||||
Dexus REIT |
12,041 | 68,450 | ||||||
EBOS Group Ltd. |
2,072 | 56,958 | ||||||
Endeavour Group Ltd. |
13,936 | 64,187 | ||||||
Fortescue Metals Group Ltd. |
18,157 | 262,026 | ||||||
Goodman Group REIT |
17,542 | 234,933 | ||||||
GPT Group REIT |
22,387 | 71,105 | ||||||
IDP Education Ltd. |
2,287 | 44,262 | ||||||
IGO Ltd. |
7,056 | 62,475 | ||||||
Insurance Australia Group Ltd. |
24,577 | 77,067 | ||||||
Lendlease Corp. Ltd. (a) |
7,597 | 39,140 | ||||||
Lottery Corp. Ltd.* |
28,184 | 98,641 | ||||||
Macquarie Group Ltd. |
3,843 | 491,146 | ||||||
Medibank Pvt Ltd. |
31,226 | 70,331 | ||||||
Mineral Resources Ltd. |
1,958 | 109,011 | ||||||
Mirvac Group REIT |
44,321 | 67,846 | ||||||
National Australia Bank Ltd. |
34,061 | 689,071 | ||||||
Newcrest Mining Ltd. |
8,480 | 128,895 | ||||||
Northern Star Resources Ltd. |
11,866 | 82,979 | ||||||
Orica Ltd. |
5,205 | 56,862 | ||||||
Origin Energy Ltd. |
19,925 | 107,626 | ||||||
Pilbara Minerals Ltd.* |
26,559 | 74,685 | ||||||
Qantas Airways Ltd.* |
8,405 | 36,388 | ||||||
QBE Insurance Group Ltd. |
16,050 | 163,216 | ||||||
Ramsay Health Care Ltd. |
2,068 | 94,202 | ||||||
REA Group Ltd. |
644 | 53,360 | ||||||
Reece Ltd. |
1,325 | 14,779 | ||||||
Rio Tinto Ltd. |
4,032 | 317,387 | ||||||
Santos Ltd. |
35,456 | 167,368 | ||||||
Scentre Group REIT |
53,099 | 106,706 | ||||||
SEEK Ltd. |
3,640 | 59,353 | ||||||
Sonic Healthcare Ltd. |
4,957 | 107,670 | ||||||
South32 Ltd. |
43,804 | 128,200 | ||||||
Stockland REIT |
18,901 | 48,944 | ||||||
Suncorp Group Ltd. |
13,301 | 115,259 | ||||||
Telstra Group Ltd. |
38,195 | 107,148 | ||||||
Transurban Group (a) |
33,729 | 322,526 | ||||||
Treasury Wine Estates Ltd. |
9,025 | 85,265 | ||||||
Vicinity Ltd. REIT |
51,676 | 71,089 | ||||||
Washington H Soul Pattinson & Co. Ltd. |
2,244 | 44,126 | ||||||
Wesfarmers Ltd. |
11,948 | 388,676 |
Number |
Value |
|||||||
Australia (Continued) | ||||||||
Westpac Banking Corp. |
36,877 | $ | 560,276 | |||||
WiseTech Global Ltd. |
1,441 | 61,220 | ||||||
Woodside Energy Group Ltd. |
20,194 | 489,016 | ||||||
Woolworths Group Ltd. |
12,766 | 317,835 | ||||||
|
|
|||||||
(Cost $12,689,024) |
12,489,168 | |||||||
|
|
|||||||
Austria — 0.1% | ||||||||
Erste Group Bank AG |
3,594 | 141,709 | ||||||
OMV AG |
1,252 | 61,222 | ||||||
Verbund AG |
609 | 53,024 | ||||||
voestalpine AG |
1,178 | 43,750 | ||||||
|
|
|||||||
(Cost $269,602) |
299,705 | |||||||
|
|
|||||||
Belgium — 0.3% | ||||||||
Ageas SA/NV |
1,537 | 69,649 | ||||||
Anheuser-Busch InBev SA/NV |
9,274 | 562,862 | ||||||
D’ieteren Group |
265 | 51,570 | ||||||
Elia Group SA/NV |
344 | 45,529 | ||||||
Groupe Bruxelles Lambert NV |
1,191 | 100,438 | ||||||
KBC Group NV |
2,684 | 201,239 | ||||||
Sofina SA |
121 | 30,335 | ||||||
Solvay SA |
812 | 93,217 | ||||||
UCB SA |
1,433 | 123,673 | ||||||
Umicore SA |
2,207 | 73,890 | ||||||
Warehouses De Pauw CVA REIT |
1,569 | 48,187 | ||||||
|
|
|||||||
(Cost $1,478,063) |
1,400,589 | |||||||
|
|
|||||||
Bermuda — 0.1% | ||||||||
Arch Capital Group Ltd.* |
3,649 | 255,430 | ||||||
Everest Re Group Ltd. |
411 | 157,812 | ||||||
|
|
|||||||
(Cost $240,884) |
413,242 | |||||||
|
|
|||||||
Canada — 3.7% | ||||||||
Agnico Eagle Mines Ltd. |
4,954 | 228,587 | ||||||
Air Canada* |
1,527 | 22,567 | ||||||
Algonquin Power & Utilities Corp. |
7,548 | 57,769 | ||||||
Alimentation Couche-Tard, Inc. |
8,565 | 402,692 | ||||||
AltaGas Ltd. |
3,775 | 64,938 | ||||||
ARC Resources Ltd. |
7,237 | 78,991 | ||||||
Bank of Montreal |
6,970 | 662,059 | ||||||
Bank of Nova Scotia |
12,806 | 634,351 | ||||||
Barrick Gold Corp. |
19,388 | 314,007 | ||||||
BCE, Inc. |
766 | 33,966 | ||||||
Brookfield Asset Management Ltd., Class A |
3,728 | 125,713 | ||||||
Brookfield Corp. |
14,914 | 497,334 | ||||||
BRP, Inc. |
398 | 34,563 | ||||||
CAE, Inc.* |
2,955 | 66,786 | ||||||
Cameco Corp. |
4,331 | 118,658 | ||||||
Canadian Apartment Properties REIT |
844 | 30,637 | ||||||
Canadian Imperial Bank of Commerce |
9,592 | 439,635 | ||||||
Canadian National Railway Co. |
5,971 | 681,592 | ||||||
Canadian Natural Resources Ltd. |
11,631 | 658,758 | ||||||
Canadian Pacific Railway Ltd. |
9,832 | 748,386 | ||||||
Canadian Tire Corp. Ltd., Class A |
654 | 81,706 | ||||||
Canadian Utilities Ltd., Class A |
1,372 | 36,067 | ||||||
CCL Industries, Inc., Class B |
1,547 | 74,575 | ||||||
Cenovus Energy, Inc. |
14,713 | 271,901 |
See Notes to Financial Statements. | 21 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
Canada (Continued) | ||||||||
CGI, Inc.* |
2,305 | $ | 207,127 | |||||
Constellation Software, Inc. |
214 | 368,782 | ||||||
Descartes Systems Group, Inc.* |
851 | 62,907 | ||||||
Dollarama, Inc. |
2,830 | 163,840 | ||||||
Element Fleet Management Corp. |
3,800 | 54,399 | ||||||
Emera, Inc. |
2,853 | 113,265 | ||||||
Empire Co. Ltd., Class A |
1,417 | 37,667 | ||||||
Enbridge, Inc. |
21,343 | 802,489 | ||||||
Fairfax Financial Holdings Ltd. |
217 | 152,052 | ||||||
First Quantum Minerals Ltd. |
6,186 | 135,447 | ||||||
FirstService Corp. |
473 | 64,989 | ||||||
Fortis, Inc. |
4,880 | 193,558 | ||||||
Franco-Nevada Corp. |
2,048 | 262,000 | ||||||
George Weston Ltd. |
818 | 102,712 | ||||||
GFL Environmental, Inc. |
1,905 | 58,041 | ||||||
Gildan Activewear, Inc. |
2,243 | 71,436 | ||||||
Great-West Lifeco, Inc. (b) |
2,608 | 71,318 | ||||||
Hydro One Ltd., 144A |
3,660 | 95,193 | ||||||
iA Financial Corp., Inc. |
1,131 | 76,095 | ||||||
IGM Financial, Inc. |
1,249 | 38,091 | ||||||
Imperial Oil Ltd. |
2,335 | 115,751 | ||||||
Intact Financial Corp. |
1,882 | 270,954 | ||||||
Ivanhoe Mines Ltd., Class A* |
6,379 | 53,414 | ||||||
Keyera Corp. (b) |
2,155 | 47,660 | ||||||
Kinross Gold Corp. |
14,211 | 52,608 | ||||||
Loblaw Cos. Ltd. |
1,753 | 150,147 | ||||||
Lululemon Athletica, Inc.* |
1,182 | 365,474 | ||||||
Lumine Group, Inc.* (c) |
642 | 7,715 | ||||||
Lundin Mining Corp. |
6,394 | 39,873 | ||||||
Magna International, Inc. |
2,866 | 160,094 | ||||||
Manulife Financial Corp. |
20,455 | 405,359 | ||||||
Metro, Inc. |
2,248 | 117,019 | ||||||
National Bank of Canada |
3,570 | 262,797 | ||||||
Northland Power, Inc. |
2,762 | 67,252 | ||||||
Nutrien Ltd. |
5,467 | 426,936 | ||||||
Nuvei Corp., 144A* |
663 | 20,346 | ||||||
Onex Corp. |
727 | 38,960 | ||||||
Open Text Corp. |
2,596 | 89,562 | ||||||
Pan American Silver Corp. |
2,017 | 30,134 | ||||||
Parkland Corp. |
1,889 | 41,403 | ||||||
Pembina Pipeline Corp. |
5,419 | 178,318 | ||||||
Power Corp. of Canada |
6,251 | 167,220 | ||||||
Quebecor, Inc., Class B |
1,565 | 37,106 | ||||||
Restaurant Brands International, Inc. |
2,700 | 174,619 | ||||||
RioCan Real Estate Investment Trust REIT |
1,558 | 24,730 | ||||||
Ritchie Bros Auctioneers, Inc. |
1,163 | 71,312 | ||||||
Rogers Communications, Inc., Class B |
3,414 | 163,447 | ||||||
Royal Bank of Canada |
14,582 | 1,483,852 | ||||||
Saputo, Inc. |
2,485 | 66,695 | ||||||
Shaw Communications, Inc., Class B |
4,810 | 139,659 | ||||||
Shopify, Inc., Class A* |
12,799 | 528,149 | ||||||
Sun Life Financial, Inc. (b) |
6,191 | 299,853 | ||||||
Suncor Energy, Inc. (b) |
14,240 | 479,670 | ||||||
TC Energy Corp. |
10,625 | 423,845 | ||||||
Teck Resources Ltd., Class B |
5,134 | 205,405 | ||||||
TELUS Corp. |
4,782 | 95,292 |
Number |
Value |
|||||||
Canada (Continued) | ||||||||
TFI International, Inc. |
831 | $ | 101,634 | |||||
Thomson Reuters Corp. |
1,636 | 198,586 | ||||||
TMX Group Ltd. |
650 | 64,964 | ||||||
Toromont Industries Ltd. |
870 | 71,916 | ||||||
Toronto-Dominion Bank |
19,469 | 1,299,173 | ||||||
Tourmaline Oil Corp. |
3,360 | 147,584 | ||||||
West Fraser Timber Co. Ltd. |
468 | 35,235 | ||||||
Wheaton Precious Metals Corp. |
4,759 | 198,721 | ||||||
WSP Global, Inc. |
1,379 | 173,620 | ||||||
|
|
|||||||
(Cost $19,136,552) |
19,091,709 | |||||||
|
|
|||||||
Chile — 0.0% | ||||||||
Antofagasta
PLC |
4,186 | 79,564 | ||||||
|
|
|||||||
Denmark — 0.9% | ||||||||
A.P. Moller — Maersk A/S, Class A |
33 | 75,799 | ||||||
A.P. Moller — Maersk A/S, Class B |
55 | 128,605 | ||||||
Carlsberg A/S, Class B |
958 | 135,933 | ||||||
Chr Hansen Holding A/S |
1,273 | 88,501 | ||||||
Coloplast A/S, Class B |
1,263 | 146,456 | ||||||
Danske Bank A/S |
6,419 | 149,499 | ||||||
Demant A/S* |
883 | 26,535 | ||||||
DSV A/S |
2,021 | 368,895 | ||||||
Genmab A/S* |
659 | 248,651 | ||||||
Novo Nordisk A/S, Class B |
17,403 | 2,470,343 | ||||||
Novozymes A/S, Class B |
2,102 | 101,596 | ||||||
Orsted AS, 144A |
2,061 | 180,668 | ||||||
Pandora A/S |
1,202 | 114,308 | ||||||
ROCKWOOL A/S, Class B |
134 | 30,598 | ||||||
Tryg A/S |
3,795 | 84,330 | ||||||
Vestas Wind Systems A/S |
10,782 | 308,189 | ||||||
|
|
|||||||
(Cost $3,884,051) |
4,658,906 | |||||||
|
|
|||||||
Finland — 0.4% | ||||||||
Elisa OYJ |
1,275 | 72,637 | ||||||
Fortum OYJ |
4,980 | 76,368 | ||||||
Kesko OYJ, Class B |
2,459 | 53,642 | ||||||
Kone OYJ, Class B |
3,570 | 186,081 | ||||||
Metso Outotec OYJ |
7,500 | 80,174 | ||||||
Neste OYJ |
4,438 | 215,040 | ||||||
Nokia OYJ |
59,302 | 275,426 | ||||||
Nordea Bank Abp |
35,850 | 455,971 | ||||||
Orion OYJ, Class B |
1,258 | 59,435 | ||||||
Sampo OYJ, Class A |
5,045 | 246,324 | ||||||
Stora Enso OYJ, Class R |
5,413 | 76,894 | ||||||
UPM-Kymmene OYJ |
5,952 | 216,568 | ||||||
Wartsila OYJ Abp |
5,034 | 48,880 | ||||||
|
|
|||||||
(Cost $2,122,075) |
2,063,440 | |||||||
|
|
|||||||
France — 3.7% | ||||||||
Accor SA* |
2,048 | 68,372 | ||||||
Aeroports de Paris* |
316 | 46,062 | ||||||
Air Liquide SA |
5,490 | 876,583 | ||||||
Airbus SE |
6,183 | 813,208 | ||||||
Alstom SA (b) |
3,534 | 104,302 | ||||||
Amundi SA, 144A |
514 | 34,014 | ||||||
Arkema SA |
656 | 66,897 | ||||||
AXA SA |
19,843 | 628,149 |
See Notes to Financial Statements. | 22 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
France (Continued) | ||||||||
BioMerieux |
554 | $ | 54,486 | |||||
BNP Paribas SA |
11,828 | 829,759 | ||||||
Bollore SE |
10,000 | 56,101 | ||||||
Bouygues SA |
2,769 | 94,086 | ||||||
Bureau Veritas SA |
3,469 | 99,550 | ||||||
Capgemini SE |
1,728 | 325,918 | ||||||
Carrefour SA |
7,249 | 143,834 | ||||||
Cie de Saint-Gobain |
5,246 | 313,386 | ||||||
Cie Generale des Etablissements Michelin SCA |
7,667 | 241,771 | ||||||
Covivio SA REIT |
651 | 41,906 | ||||||
Credit Agricole SA |
12,106 | 148,438 | ||||||
Danone SA |
6,998 | 395,114 | ||||||
Dassault Aviation SA |
202 | 34,854 | ||||||
Dassault Systemes SE |
6,978 | 270,698 | ||||||
Edenred |
2,625 | 148,433 | ||||||
Eiffage SA |
859 | 94,741 | ||||||
Engie SA |
20,635 | 302,779 | ||||||
EssilorLuxottica SA |
3,077 | 536,464 | ||||||
Eurazeo SE |
503 | 34,033 | ||||||
Gecina SA REIT |
567 | 65,602 | ||||||
Getlink SE |
5,071 | 85,641 | ||||||
Hermes International |
328 | 596,727 | ||||||
Ipsen SA |
394 | 45,168 | ||||||
Kering SA |
789 | 464,388 | ||||||
Klepierre SA REIT* |
1,889 | 47,418 | ||||||
La Francaise des Jeux SAEM, 144A |
850 | 33,704 | ||||||
Legrand SA |
2,751 | 255,568 | ||||||
L’Oreal SA |
2,535 | 1,008,407 | ||||||
LVMH Moet Hennessy Louis Vuitton SE |
2,885 | 2,413,980 | ||||||
Orange SA |
21,011 | 240,469 | ||||||
Pernod Ricard SA |
2,165 | 453,916 | ||||||
Publicis Groupe SA |
2,419 | 193,017 | ||||||
Remy Cointreau SA |
246 | 43,411 | ||||||
Renault SA* |
2,024 | 91,160 | ||||||
Safran SA |
3,717 | 528,054 | ||||||
Sanofi |
12,033 | 1,134,326 | ||||||
Sartorius Stedim Biotech |
294 | 96,249 | ||||||
Schneider Electric SE |
5,750 | 927,609 | ||||||
SEB SA (b) |
129 | 14,966 | ||||||
Societe Generale SA |
8,328 | 241,286 | ||||||
Sodexo SA |
988 | 91,932 | ||||||
Teleperformance |
655 | 170,879 | ||||||
Thales SA |
1,121 | 157,162 | ||||||
TotalEnergies SE (b) |
26,281 | 1,632,405 | ||||||
Unibail-Rodamco-Westfield REIT* |
1,274 | 80,984 | ||||||
Valeo |
2,248 | 47,048 | ||||||
Veolia Environnement SA |
7,339 | 220,337 | ||||||
Vinci SA |
5,574 | 637,467 | ||||||
Vivendi SE |
7,528 | 77,823 | ||||||
Wendel SE |
286 | 32,605 | ||||||
Worldline SA, 144A* |
2,587 | 108,424 | ||||||
|
|
|||||||
(Cost $16,970,818) |
19,042,070 | |||||||
|
|
|||||||
Germany — 2.4% | ||||||||
adidas AG |
1,818 | 273,119 | ||||||
Allianz SE |
4,222 | 994,662 | ||||||
BASF SE |
9,722 | 499,786 |
Number |
Value |
|||||||
Germany (Continued) | ||||||||
Bayer AG |
10,496 | $ | 626,565 | |||||
Bayerische Motoren Werke AG |
3,545 | 367,489 | ||||||
Bechtle AG |
752 | 31,844 | ||||||
Beiersdorf AG |
1,058 | 126,787 | ||||||
Brenntag SE |
1,710 | 129,481 | ||||||
Carl Zeiss Meditec AG |
471 | 63,086 | ||||||
Commerzbank AG* |
11,245 | 137,439 | ||||||
Continental AG |
1,156 | 83,364 | ||||||
Covestro AG, 144A |
2,058 | 90,902 | ||||||
Daimler Truck Holding AG* |
4,426 | 140,884 | ||||||
Delivery Hero SE, 144A* |
1,558 | 63,100 | ||||||
Deutsche Bank AG (d) |
21,324 | 266,847 | ||||||
Deutsche Boerse AG |
2,011 | 351,890 | ||||||
Deutsche Lufthansa AG* |
5,569 | 58,008 | ||||||
Deutsche Post AG |
10,618 | 451,767 | ||||||
Deutsche Telekom AG |
34,133 | 768,666 | ||||||
E.ON SE |
22,476 | 246,581 | ||||||
Evonik Industries AG |
2,210 | 47,413 | ||||||
Fresenius Medical Care AG & Co. KGaA |
2,069 | 81,009 | ||||||
Fresenius SE & Co. KGaA |
4,251 | 117,348 | ||||||
GEA Group AG |
1,618 | 71,415 | ||||||
Hannover Rueck SE |
600 | 116,888 | ||||||
HeidelbergCement AG |
1,542 | 106,490 | ||||||
HelloFresh SE* |
1,540 | 34,738 | ||||||
Henkel AG & Co. KGaA |
1,178 | 81,765 | ||||||
Infineon Technologies AG |
13,990 | 497,242 | ||||||
Knorr-Bremse AG |
647 | 44,201 | ||||||
LEG Immobilien SE |
676 | 49,308 | ||||||
Mercedes-Benz Group AG |
8,451 | 651,110 | ||||||
Merck KGaA |
1,361 | 258,863 | ||||||
MTU Aero Engines AG |
643 | 155,815 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen |
1,499 | 518,398 | ||||||
Nemetschek SE |
589 | 33,530 | ||||||
Puma SE |
1,179 | 75,520 | ||||||
Rational AG |
34 | 22,644 | ||||||
Rheinmetall AG |
456 | 116,351 | ||||||
RWE AG |
6,870 | 293,174 | ||||||
SAP SE |
10,998 | 1,253,581 | ||||||
Scout24 SE, 144A |
586 | 32,266 | ||||||
Siemens AG |
8,147 | 1,250,193 | ||||||
Siemens Energy AG* (b) |
4,186 | 84,213 | ||||||
Siemens Healthineers AG, 144A |
2,957 | 154,851 | ||||||
Symrise AG |
1,433 | 147,107 | ||||||
Telefonica Deutschland Holding AG |
10,718 | 32,633 | ||||||
United Internet AG |
1,437 | 31,576 | ||||||
Volkswagen AG |
314 | 56,210 | ||||||
Vonovia SE |
8,233 | 208,237 | ||||||
Zalando SE, 144A* |
2,162 | 86,209 | ||||||
|
|
|||||||
(Cost $13,487,814) |
12,482,565 | |||||||
|
|
|||||||
Hong Kong — 0.8% | ||||||||
AIA Group Ltd. |
124,878 | 1,324,428 | ||||||
BOC Hong Kong Holdings Ltd. |
35,779 | 121,018 | ||||||
Budweiser Brewing Co. APAC Ltd., 144A |
20,536 | 61,481 | ||||||
CK Asset Holdings Ltd. |
21,324 | 133,657 | ||||||
CK Hutchison Holdings Ltd. |
27,551 | 164,264 |
See Notes to Financial Statements. | 23 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
Hong Kong (Continued) | ||||||||
CK Infrastructure Holdings Ltd. |
6,637 | $ | 35,005 | |||||
CLP Holdings Ltd. |
16,859 | 119,309 | ||||||
ESR Group Ltd., 144A |
26,986 | 45,862 | ||||||
Futu Holdings Ltd., ADR* |
662 | 32,577 | ||||||
Galaxy Entertainment Group Ltd. |
21,091 | 140,257 | ||||||
Hang Lung Properties Ltd. |
28,377 | 54,733 | ||||||
Hang Seng Bank Ltd. |
7,093 | 115,303 | ||||||
Henderson Land Development Co. Ltd. |
17,717 | 62,183 | ||||||
HKT Trust & HKT Ltd. (a) |
32,397 | 42,098 | ||||||
Hong Kong & China Gas Co. Ltd. |
102,306 | 96,187 | ||||||
Hong Kong Exchanges & Clearing Ltd. |
12,866 | 515,656 | ||||||
Hongkong Land Holdings Ltd. |
12,100 | 55,297 | ||||||
Jardine Matheson Holdings Ltd. |
1,651 | 81,758 | ||||||
Link REIT |
20,921 | 137,528 | ||||||
MTR Corp. Ltd. |
17,543 | 88,391 | ||||||
New World Development Co. Ltd. |
15,905 | 43,260 | ||||||
Power Assets Holdings Ltd. |
14,613 | 78,189 | ||||||
Sino Land Co. Ltd. |
37,865 | 48,528 | ||||||
SITC International Holdings Co. Ltd. |
15,433 | 32,244 | ||||||
Sun Hung Kai Properties Ltd. |
14,824 | 202,450 | ||||||
Swire Pacific Ltd., Class A |
3,327 | 27,126 | ||||||
Swire Properties Ltd. |
13,400 | 35,252 | ||||||
Techtronic Industries Co. Ltd. |
14,647 | 145,640 | ||||||
WH Group Ltd., 144A |
110,032 | 63,921 | ||||||
Wharf Real Estate Investment Co. Ltd. |
14,195 | 77,761 | ||||||
Xinyi Glass Holdings Ltd. |
17,012 | 31,772 | ||||||
|
|
|||||||
(Cost $4,771,826) |
4,213,135 | |||||||
|
|
|||||||
Ireland — 1.1% | ||||||||
Accenture PLC, Class A |
6,660 | 1,768,563 | ||||||
AerCap Holdings NV* |
1,414 | 88,290 | ||||||
AIB Group PLC |
10,277 | 44,096 | ||||||
Allegion PLC |
931 | 104,933 | ||||||
Aptiv PLC* |
2,891 | 336,166 | ||||||
Bank of Ireland Group PLC |
10,885 | 120,399 | ||||||
CRH PLC |
8,071 | 381,060 | ||||||
DCC PLC |
1,183 | 66,196 | ||||||
Experian PLC |
9,365 | 318,024 | ||||||
Flutter Entertainment PLC* |
1,754 | 283,389 | ||||||
James Hardie Industries PLC CDI |
4,349 | 91,003 | ||||||
Jazz Pharmaceuticals PLC* |
646 | 90,698 | ||||||
Kerry Group PLC, Class A |
1,507 | 144,827 | ||||||
Kingspan Group PLC |
1,626 | 106,187 | ||||||
Medtronic PLC |
14,022 | 1,161,022 | ||||||
Smurfit Kappa Group PLC |
2,152 | 80,721 | ||||||
Trane Technologies PLC |
2,456 | 454,286 | ||||||
|
|
|||||||
(Cost $6,090,772) |
5,639,860 | |||||||
|
|
|||||||
Israel — 0.2% | ||||||||
Azrieli Group Ltd. |
561 | 31,482 | ||||||
Bank Hapoalim BM |
13,376 | 111,973 | ||||||
Bank Leumi Le-Israel BM |
14,706 | 114,452 | ||||||
Bezeq The Israeli Telecommunication Corp. Ltd. |
20,763 | 28,749 | ||||||
Check
Point Software Technologies |
1,084 | 134,112 | ||||||
CyberArk Software Ltd.* |
496 | 71,806 | ||||||
Elbit Systems Ltd. |
283 | 47,985 |
Number |
Value |
|||||||
Israel (Continued) | ||||||||
First International Bank Of Israel Ltd. |
550 | $ | 19,498 | |||||
ICL Group Ltd. |
7,695 | 55,948 | ||||||
Israel Discount Bank Ltd., Class A |
12,524 | 59,449 | ||||||
Mizrahi Tefahot Bank Ltd. |
1,777 | 52,877 | ||||||
Nice Ltd.* |
720 | 149,006 | ||||||
SolarEdge Technologies, Inc.* |
567 | 180,261 | ||||||
Teva
Pharmaceutical Industries Ltd., |
12,191 | 120,813 | ||||||
Tower Semiconductor Ltd.* |
1,147 | 46,910 | ||||||
Wix.com Ltd.* |
644 | 58,301 | ||||||
|
|
|||||||
(Cost $1,373,513) |
1,283,622 | |||||||
|
|
|||||||
Italy — 0.6% | ||||||||
Amplifon SpA |
1,275 | 37,022 | ||||||
Assicurazioni Generali SpA |
11,653 | 231,218 | ||||||
Davide Campari-Milano NV |
5,568 | 62,562 | ||||||
DiaSorin SpA |
193 | 23,364 | ||||||
Enel SpA |
85,958 | 484,690 | ||||||
Eni SpA |
26,787 | 379,696 | ||||||
Ferrari NV |
1,371 | 356,653 | ||||||
FinecoBank Banca Fineco SpA |
6,668 | 115,618 | ||||||
Infrastrutture Wireless Italiane SpA, 144A |
2,866 | 31,671 | ||||||
Intesa Sanpaolo SpA |
174,275 | 473,413 | ||||||
Mediobanca Banca di Credito Finanziario SpA |
5,650 | 60,517 | ||||||
Moncler SpA |
2,153 | 131,972 | ||||||
Nexi SpA, 144A* |
6,823 | 55,368 | ||||||
Poste Italiane SpA, 144A |
3,913 | 42,327 | ||||||
Prysmian SpA |
2,956 | 114,014 | ||||||
Recordati Industria Chimica e Farmaceutica SpA |
1,343 | 57,170 | ||||||
Snam SpA |
21,239 | 104,646 | ||||||
Telecom Italia SpA* |
53,264 | 17,466 | ||||||
Terna — Rete Elettrica Nazionale |
12,869 | 97,280 | ||||||
UniCredit SpA |
20,289 | 416,301 | ||||||
|
|
|||||||
(Cost $3,100,145) |
3,292,968 | |||||||
|
|
|||||||
Jersey — 0.0% | ||||||||
Novocure
Ltd.* |
834 | 64,193 | ||||||
|
|
|||||||
Jordan — 0.0% | ||||||||
Hikma
Pharmaceuticals PLC |
2,053 | 43,048 | ||||||
|
|
|||||||
Luxembourg — 0.1% | ||||||||
ArcelorMittal SA |
5,260 | 158,673 | ||||||
Aroundtown SA (b) |
10,721 | 27,878 | ||||||
Eurofins Scientific SE |
1,443 | 101,000 | ||||||
Tenaris SA |
4,952 | 82,345 | ||||||
|
|
|||||||
(Cost $371,643) |
369,896 | |||||||
|
|
|||||||
Macau — 0.0% | ||||||||
Sands
China Ltd.* |
26,189 | 90,750 | ||||||
|
|
|||||||
Netherlands — 1.6% | ||||||||
ABN AMRO Bank NV, 144A |
2,867 | 50,791 | ||||||
Adyen NV, 144A* |
231 | 329,541 |
See Notes to Financial Statements. | 24 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
Netherlands (Continued) | ||||||||
Aegon NV |
19,718 | $ | 103,154 | |||||
Akzo Nobel NV |
1,979 | 145,316 | ||||||
Argenx SE* |
593 | 215,202 | ||||||
ASM International NV |
491 | 168,188 | ||||||
ASML Holding NV |
4,251 | 2,632,782 | ||||||
Euronext NV, 144A |
904 | 66,284 | ||||||
EXOR NV* |
1,359 | 112,358 | ||||||
Heineken Holding NV |
1,400 | 120,186 | ||||||
Heineken NV |
2,564 | 262,395 | ||||||
IMCD NV |
668 | 106,191 | ||||||
ING Groep NV |
40,168 | 565,107 | ||||||
JDE Peet’s NV |
740 | 21,848 | ||||||
Just Eat Takeaway.com NV, 144A* |
1,974 | 43,334 | ||||||
Koninklijke Ahold Delhaize NV |
11,432 | 363,891 | ||||||
Koninklijke DSM NV |
1,858 | 229,947 | ||||||
Koninklijke KPN NV |
37,552 | 129,069 | ||||||
Koninklijke Philips NV |
9,820 | 160,898 | ||||||
NN Group NV |
3,208 | 130,300 | ||||||
NXP Semiconductors NV |
2,704 | 482,610 | ||||||
OCI NV |
1,107 | 36,863 | ||||||
Prosus NV* |
8,739 | 629,463 | ||||||
QIAGEN NV* |
2,434 | 112,440 | ||||||
Randstad NV |
1,441 | 88,787 | ||||||
Stellantis NV |
23,100 | 405,533 | ||||||
Universal Music Group NV |
7,528 | 178,430 | ||||||
Wolters Kluwer NV |
2,773 | 321,867 | ||||||
|
|
|||||||
(Cost $7,915,129) |
8,212,775 | |||||||
|
|
|||||||
New Zealand — 0.1% | ||||||||
Auckland International Airport Ltd.* |
12,828 | 69,462 | ||||||
Fisher & Paykel Healthcare Corp. Ltd. |
5,584 | 89,880 | ||||||
Mercury NZ Ltd. |
7,206 | 27,992 | ||||||
Meridian Energy Ltd. |
13,566 | 44,630 | ||||||
Spark New Zealand Ltd. |
22,480 | 69,637 | ||||||
Xero Ltd.* |
1,525 | 79,905 | ||||||
|
|
|||||||
(Cost $462,688) |
381,506 | |||||||
|
|
|||||||
Norway — 0.2% | ||||||||
Adevinta ASA* |
1,886 | 14,163 | ||||||
Aker BP ASA |
3,267 | 88,507 | ||||||
DNB Bank ASA |
9,727 | 195,169 | ||||||
Equinor ASA |
9,916 | 306,828 | ||||||
Gjensidige Forsikring ASA |
1,901 | 33,880 | ||||||
Kongsberg Gruppen ASA |
944 | 39,433 | ||||||
Mowi ASA |
4,276 | 74,245 | ||||||
Norsk Hydro ASA |
16,424 | 120,102 | ||||||
Orkla ASA |
8,653 | 58,475 | ||||||
Salmar ASA |
620 | 25,887 | ||||||
Telenor ASA |
7,867 | 88,619 | ||||||
Yara International ASA |
1,433 | 68,433 | ||||||
|
|
|||||||
(Cost $1,181,972) |
1,113,741 | |||||||
|
|
|||||||
Portugal — 0.1% | ||||||||
EDP — Energias de Portugal SA |
31,046 | 157,247 | ||||||
Galp Energia SGPS SA |
5,904 | 72,379 | ||||||
Jeronimo Martins SGPS SA |
3,502 | 72,123 | ||||||
|
|
|||||||
(Cost $301,163) |
301,749 | |||||||
|
|
Number |
Value |
|||||||
Singapore — 0.4% | ||||||||
CapitaLand Ascendas REIT |
34,979 | $ | 71,977 | |||||
CapitaLand Integrated Commercial Trust REIT |
48,156 | 69,400 | ||||||
Capitaland Investment Ltd. |
27,702 | 76,553 | ||||||
City Developments Ltd. |
3,300 | 18,901 | ||||||
DBS Group Holdings Ltd. |
19,307 | 490,079 | ||||||
Genting Singapore Ltd. |
88,400 | 66,982 | ||||||
Grab Holdings Ltd., Class A* |
12,634 | 40,555 | ||||||
Jardine Cycle & Carriage Ltd. |
1,300 | 28,692 | ||||||
Keppel Corp. Ltd. |
15,500 | 63,099 | ||||||
Mapletree Logistics Trust REIT |
34,128 | 42,845 | ||||||
Mapletree Pan Asia Commercial Trust REIT |
14,100 | 18,016 | ||||||
Oversea-Chinese Banking Corp. Ltd. |
35,285 | 332,103 | ||||||
Sea Ltd., ADR* (b) |
3,780 | 236,212 | ||||||
Sembcorp Marine Ltd.* (c) |
296,050 | 27,930 | ||||||
Singapore Airlines Ltd. |
14,250 | 60,233 | ||||||
Singapore Exchange Ltd. |
9,131 | 59,080 | ||||||
Singapore Technologies Engineering Ltd. |
10,502 | 27,851 | ||||||
Singapore Telecommunications Ltd. |
87,200 | 153,522 | ||||||
United Overseas Bank Ltd. |
12,601 | 280,074 | ||||||
UOL Group Ltd. |
2,801 | 14,212 | ||||||
Venture Corp. Ltd. |
2,056 | 26,224 | ||||||
Wilmar International Ltd. |
20,400 | 59,708 | ||||||
|
|
|||||||
(Cost $2,486,037) |
2,264,248 | |||||||
|
|
|||||||
Spain — 0.8% | ||||||||
Acciona SA |
263 | 49,674 | ||||||
ACS Actividades de Construccion y Servicios SA |
2,360 | 71,730 | ||||||
Aena SME SA, 144A* |
738 | 114,580 | ||||||
Amadeus IT Group SA* |
4,744 | 298,842 | ||||||
Banco Bilbao Vizcaya Argentaria SA |
63,976 | 500,233 | ||||||
Banco Santander SA |
172,538 | 681,130 | ||||||
CaixaBank SA |
46,707 | 200,707 | ||||||
Cellnex Telecom SA, 144A* |
5,726 | 215,935 | ||||||
Corp ACCIONA Energias Renovables SA |
692 | 26,874 | ||||||
EDP Renovaveis SA |
2,883 | 59,345 | ||||||
Enagas SA |
2,776 | 49,929 | ||||||
Endesa SA |
3,394 | 66,840 | ||||||
Ferrovial SA |
5,239 | 145,899 | ||||||
Grifols SA* (b) |
3,570 | 43,671 | ||||||
Iberdrola SA |
63,223 | 728,477 | ||||||
Industria de Diseno Textil SA |
11,424 | 352,430 | ||||||
Naturgy Energy Group SA |
1,079 | 29,820 | ||||||
Red Electrica Corp. SA |
4,174 | 69,541 | ||||||
Repsol SA |
13,972 | 222,334 | ||||||
Telefonica SA |
57,332 | 234,022 | ||||||
|
|
|||||||
(Cost $3,886,072) |
4,162,013 | |||||||
|
|
|||||||
Sweden — 1.0% | ||||||||
Alfa Laval AB |
3,477 | 115,026 | ||||||
Assa Abloy AB, Class B |
10,448 | 255,575 | ||||||
Atlas Copco AB, Class A |
28,529 | 341,081 | ||||||
Atlas Copco AB, Class B |
16,708 | 177,228 | ||||||
Boliden AB |
2,882 | 118,874 |
See Notes to Financial Statements. | 25 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
Sweden (Continued) | ||||||||
Electrolux AB, Class B |
2,248 | $ | 27,381 | |||||
Embracer Group AB* (b) |
6,727 | 32,665 | ||||||
Epiroc AB, Class A |
7,164 | 138,422 | ||||||
Epiroc AB, Class B |
4,774 | 78,921 | ||||||
EQT AB |
3,300 | 74,363 | ||||||
Essity AB, Class B (b) |
5,908 | 160,325 | ||||||
Evolution AB, 144A |
1,887 | 229,185 | ||||||
Fastighets AB Balder, Class B* (b) |
8,274 | 41,272 | ||||||
Getinge AB, Class B |
2,631 | 56,891 | ||||||
H & M Hennes & Mauritz AB, Class B (b) |
8,596 | 108,837 | ||||||
Hexagon AB, Class B |
20,253 | 225,571 | ||||||
Holmen AB, Class B |
991 | 40,196 | ||||||
Husqvarna AB, Class B |
3,522 | 31,381 | ||||||
Industrivarden AB, Class A |
1,509 | 41,702 | ||||||
Industrivarden AB, Class C (b) |
1,886 | 52,012 | ||||||
Indutrade AB |
2,878 | 61,542 | ||||||
Investment AB Latour, Class B (b) |
1,355 | 28,221 | ||||||
Investor AB, Class A |
5,453 | 112,421 | ||||||
Investor AB, Class B |
19,580 | 380,387 | ||||||
Kinnevik AB, Class B* (b) |
2,684 | 40,188 | ||||||
L E Lundbergforetagen AB, Class B |
661 | 30,849 | ||||||
Lifco AB, Class B |
2,760 | 55,472 | ||||||
Nibe Industrier AB, Class B |
16,347 | 169,919 | ||||||
Sagax AB, Class B |
2,014 | 49,845 | ||||||
Sandvik AB |
11,326 | 234,370 | ||||||
Securitas AB, Class B |
6,760 | 58,586 | ||||||
Skandinaviska Enskilda Banken AB, Class A |
17,148 | 215,489 | ||||||
Skanska AB, Class B |
2,861 | 52,289 | ||||||
SKF AB, Class B (b) |
3,392 | 64,840 | ||||||
Svenska Cellulosa AB SCA, Class B |
6,139 | 86,122 | ||||||
Svenska Handelsbanken AB, Class A |
14,293 | 152,269 | ||||||
Swedbank AB, Class A |
9,802 | 200,954 | ||||||
Swedish Orphan Biovitrum AB* |
1,776 | 41,060 | ||||||
Tele2 AB, Class B |
5,661 | 52,297 | ||||||
Telefonaktiebolaget LM Ericsson, Class B |
31,875 | 177,583 | ||||||
Telia Co. AB |
26,262 | 68,119 | ||||||
Volvo AB, Class A |
1,612 | 33,728 | ||||||
Volvo AB, Class B |
15,895 | 319,772 | ||||||
Volvo Car AB, Class B* |
6,277 | 29,770 | ||||||
|
|
|||||||
(Cost $5,752,655) |
5,063,000 | |||||||
|
|
|||||||
Switzerland — 3.4% | ||||||||
ABB Ltd. |
17,067 | 569,598 | ||||||
Adecco Group AG |
1,447 | 51,658 | ||||||
Alcon, Inc. |
5,259 | 360,008 | ||||||
Bachem Holding AG |
205 | 20,549 | ||||||
Baloise Holding AG |
556 | 92,840 | ||||||
Banque Cantonale Vaudoise |
280 | 25,080 | ||||||
Barry Callebaut AG |
38 | 75,980 | ||||||
BKW AG |
222 | 32,545 | ||||||
Chocoladefabriken Lindt & Spruengli AG |
1 | 111,283 | ||||||
Chocoladefabriken Lindt & Spruengli AG Participation Certificates |
11 | 121,120 | ||||||
Chubb Ltd. |
4,434 | 935,663 | ||||||
Cie Financiere Richemont SA, Class A |
5,583 | 844,375 |
Number |
Value |
|||||||
Switzerland (Continued) | ||||||||
Clariant AG* |
1,604 | $ | 26,099 | |||||
Coca-Cola HBC AG* |
1,538 | 39,604 | ||||||
Credit Suisse Group AG |
35,221 | 107,176 | ||||||
EMS-Chemie Holding AG |
75 | 57,055 | ||||||
Garmin Ltd. |
1,596 | 156,615 | ||||||
Geberit AG |
375 | 203,654 | ||||||
Givaudan SA |
100 | 303,121 | ||||||
Glencore PLC |
112,062 | 672,031 | ||||||
Holcim AG* |
5,842 | 362,394 | ||||||
Julius Baer Group Ltd. |
2,083 | 138,593 | ||||||
Kuehne + Nagel International AG |
571 | 146,824 | ||||||
Logitech International SA |
1,615 | 88,706 | ||||||
Lonza Group AG |
785 | 469,702 | ||||||
Nestle SA |
29,117 | 3,295,526 | ||||||
Novartis AG |
22,837 | 1,931,734 | ||||||
Partners Group Holding AG |
241 | 229,776 | ||||||
Roche Holding AG |
7,396 | 2,144,820 | ||||||
Roche Holding AG |
284 | 88,238 | ||||||
Schindler Holding AG |
250 | 54,014 | ||||||
Schindler Holding AG Participation Certificates |
394 | 88,868 | ||||||
SGS SA |
68 | 156,569 | ||||||
SIG Group AG* |
3,217 | 78,190 | ||||||
Sika AG |
1,502 | 422,916 | ||||||
Sonova Holding AG |
564 | 139,127 | ||||||
STMicroelectronics NV |
7,096 | 341,837 | ||||||
Straumann Holding AG |
1,172 | 156,121 | ||||||
Swatch Group AG — Bearer |
308 | 107,525 | ||||||
Swatch Group AG — Registered |
751 | 48,197 | ||||||
Swiss Life Holding AG |
328 | 198,147 | ||||||
Swiss Prime Site AG |
727 | 61,666 | ||||||
Swiss Re AG |
3,304 | 346,175 | ||||||
Swisscom AG |
276 | 170,915 | ||||||
Temenos AG |
650 | 48,047 | ||||||
UBS Group AG |
35,200 | 768,034 | ||||||
VAT Group AG, 144A |
287 | 87,087 | ||||||
Zurich Insurance Group AG |
1,578 | 751,581 | ||||||
|
|
|||||||
(Cost $18,181,644) |
17,727,383 | |||||||
|
|
|||||||
United Kingdom — 5.0% | ||||||||
3i Group PLC |
10,966 | 216,000 | ||||||
abrdn PLC |
17,635 | 47,952 | ||||||
Admiral Group PLC |
2,151 | 57,316 | ||||||
Amcor PLC |
14,698 | 163,736 | ||||||
Anglo American PLC |
13,312 | 464,871 | ||||||
Ashtead Group PLC |
4,506 | 300,581 | ||||||
Associated British Foods PLC |
4,276 | 103,897 | ||||||
AstraZeneca PLC |
16,327 | 2,150,572 | ||||||
Auto Trader Group PLC, 144A |
10,678 | 76,969 | ||||||
Aviva PLC |
29,313 | 158,417 | ||||||
BAE Systems PLC |
33,139 | 360,275 | ||||||
Barclays PLC |
176,480 | 373,128 | ||||||
Barratt Developments PLC |
9,916 | 56,315 | ||||||
Berkeley Group Holdings PLC |
1,274 | 64,718 | ||||||
BP PLC |
190,986 | 1,272,851 | ||||||
British American Tobacco PLC |
22,689 | 863,470 | ||||||
British Land Co. PLC REIT |
9,639 | 52,127 |
See Notes to Financial Statements. | 26 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
United Kingdom (Continued) | ||||||||
BT Group PLC |
73,182 | $ | 123,461 | |||||
Bunzl PLC |
3,554 | 127,531 | ||||||
Burberry Group PLC |
3,660 | 109,268 | ||||||
Clarivate PLC* |
3,643 | 36,904 | ||||||
CNH Industrial NV |
9,923 | 163,375 | ||||||
Coca-Cola Europacific Partners PLC |
2,074 | 114,070 | ||||||
Compass Group PLC |
18,348 | 426,490 | ||||||
Croda International PLC |
1,456 | 115,669 | ||||||
Diageo PLC |
23,801 | 1,016,870 | ||||||
Entain PLC |
5,500 | 90,523 | ||||||
Ferguson PLC |
2,247 | 324,944 | ||||||
GSK PLC |
42,376 | 731,266 | ||||||
Haleon PLC* |
52,971 | 206,464 | ||||||
Halma PLC |
3,663 | 95,965 | ||||||
Hargreaves Lansdown PLC |
3,549 | 35,645 | ||||||
HSBC Holdings PLC |
212,263 | 1,633,341 | ||||||
Imperial Brands PLC |
9,506 | 230,744 | ||||||
Informa PLC |
13,469 | 108,991 | ||||||
InterContinental Hotels Group PLC |
2,068 | 140,353 | ||||||
Intertek Group PLC |
1,703 | 86,057 | ||||||
J Sainsbury PLC |
18,958 | 61,556 | ||||||
JD Sports Fashion PLC |
33,261 | 72,924 | ||||||
Johnson Matthey PLC |
1,972 | 52,093 | ||||||
Kingfisher PLC |
18,156 | 63,128 | ||||||
Land Securities Group PLC REIT |
7,418 | 61,769 | ||||||
Legal & General Group PLC |
59,923 | 185,645 | ||||||
Liberty Global PLC, Class A* |
1,683 | 34,485 | ||||||
Liberty Global PLC, Class C* |
2,879 | 61,179 | ||||||
Linde PLC |
5,221 | 1,818,840 | ||||||
Lloyds Banking Group PLC |
693,715 | 441,927 | ||||||
London Stock Exchange Group PLC |
3,360 | 302,318 | ||||||
M&G PLC |
29,478 | 76,478 | ||||||
Melrose Industries PLC |
45,027 | 81,686 | ||||||
Mondi PLC |
5,709 | 96,521 | ||||||
National Grid PLC |
39,344 | 499,181 | ||||||
NatWest Group PLC |
54,956 | 194,474 | ||||||
Next PLC |
1,212 | 100,393 | ||||||
Ocado Group PLC* |
5,273 | 35,034 | ||||||
Pearson PLC |
5,387 | 59,896 | ||||||
Pentair PLC |
1,879 | 105,111 | ||||||
Persimmon PLC |
3,391 | 59,630 | ||||||
Phoenix Group Holdings PLC |
7,899 | 60,572 | ||||||
Prudential PLC |
28,934 | 444,693 | ||||||
Reckitt Benckiser Group PLC |
7,649 | 533,576 | ||||||
RELX PLC |
19,860 | 601,809 | ||||||
Rentokil Initial PLC |
26,400 | 163,769 | ||||||
Rio Tinto PLC |
11,830 | 818,072 | ||||||
Rolls-Royce Holdings PLC* |
90,971 | 159,628 | ||||||
Sage Group PLC |
9,649 | 87,448 | ||||||
Schroders PLC |
10,647 | 64,114 | ||||||
Segro PLC REIT |
12,781 | 127,407 | ||||||
Severn Trent PLC |
2,864 | 95,386 | ||||||
Shell PLC |
74,403 | 2,275,770 | ||||||
Smith & Nephew PLC |
9,265 | 133,030 | ||||||
Smiths Group PLC |
3,451 | 73,678 | ||||||
Spirax-Sarco Engineering PLC |
683 | 96,620 | ||||||
SSE PLC |
10,860 | 229,492 |
Number |
Value |
|||||||
United Kingdom (Continued) | ||||||||
St James’s Place PLC |
5,716 | $ | 88,681 | |||||
Standard Chartered PLC |
25,489 | 241,991 | ||||||
Taylor Wimpey PLC |
33,857 | 50,498 | ||||||
Tesco PLC |
84,807 | 261,813 | ||||||
Unilever PLC |
26,975 | 1,350,705 | ||||||
United Utilities Group PLC |
6,895 | 84,977 | ||||||
Vodafone Group PLC |
283,731 | 342,743 | ||||||
Whitbread PLC |
2,149 | 80,366 | ||||||
Willis Towers Watson PLC |
1,129 | 264,592 | ||||||
WPP PLC |
12,837 | 159,141 | ||||||
|
|
|||||||
(Cost $24,378,061) |
26,055,965 | |||||||
|
|
|||||||
United States — 69.6% | ||||||||
3M Co. |
5,776 | 622,306 | ||||||
A O Smith Corp. |
1,384 | 90,832 | ||||||
Abbott Laboratories |
18,296 | 1,861,069 | ||||||
AbbVie, Inc. |
18,637 | 2,868,234 | ||||||
Activision Blizzard, Inc. |
8,322 | 634,552 | ||||||
Adobe, Inc.* |
4,923 | 1,594,806 | ||||||
Advance Auto Parts, Inc. |
643 | 93,209 | ||||||
Advanced Micro Devices, Inc.* |
16,882 | 1,326,588 | ||||||
AECOM |
1,250 | 107,950 | ||||||
AES Corp. |
7,163 | 176,783 | ||||||
Aflac, Inc. |
6,110 | 416,396 | ||||||
Agilent Technologies, Inc. |
3,161 | 448,767 | ||||||
Air Products and Chemicals, Inc. |
2,338 | 668,621 | ||||||
Airbnb, Inc., Class A* |
3,951 | 487,079 | ||||||
Akamai Technologies, Inc.* |
1,692 | 122,839 | ||||||
Albemarle Corp. |
1,231 | 313,056 | ||||||
Alcoa Corp. |
1,941 | 94,993 | ||||||
Alexandria Real Estate Equities, Inc. REIT |
1,603 | 240,097 | ||||||
Align Technology, Inc.* |
747 | 231,196 | ||||||
Alliant Energy Corp. |
2,758 | 141,403 | ||||||
Allstate Corp. |
2,856 | 367,796 | ||||||
Ally Financial, Inc. |
3,394 | 101,990 | ||||||
Alnylam Pharmaceuticals, Inc.* |
1,250 | 239,313 | ||||||
Alphabet, Inc., Class A* |
63,240 | 5,695,394 | ||||||
Alphabet, Inc., Class C* |
58,068 | 5,243,540 | ||||||
Altria Group, Inc. |
19,142 | 888,763 | ||||||
Amazon.com, Inc.* |
97,002 | 9,140,498 | ||||||
Ameren Corp. |
2,841 | 234,979 | ||||||
American Electric Power Co., Inc. |
5,139 | 452,078 | ||||||
American Express Co. |
6,636 | 1,154,598 | ||||||
American Financial Group, Inc. |
747 | 100,180 | ||||||
American Homes 4 Rent, Class A REIT |
3,294 | 102,180 | ||||||
American International Group, Inc. |
7,909 | 483,319 | ||||||
American Tower Corp. REIT |
4,911 | 972,427 | ||||||
American Water Works Co., Inc. |
1,912 | 268,407 | ||||||
Ameriprise Financial, Inc. |
1,164 | 399,101 | ||||||
AmerisourceBergen Corp. |
1,655 | 257,452 | ||||||
AMETEK, Inc. |
2,437 | 344,982 | ||||||
Amgen, Inc. |
5,643 | 1,307,257 | ||||||
Amphenol Corp., Class A |
6,448 | 499,849 | ||||||
Analog Devices, Inc. |
5,398 | 990,371 | ||||||
Annaly Capital Management, Inc. REIT (b) |
5,118 | 105,840 | ||||||
ANSYS, Inc.* |
921 | 279,625 |
See Notes to Financial Statements. | 27 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
United States (Continued) | ||||||||
Aon PLC, Class A |
2,220 | $ | 674,991 | |||||
APA Corp. |
3,656 | 140,317 | ||||||
Apollo Global Management, Inc. |
4,210 | 298,489 | ||||||
Apple, Inc. |
167,864 | 24,744,832 | ||||||
Applied Materials, Inc. |
9,062 | 1,052,551 | ||||||
Aramark |
2,229 | 82,027 | ||||||
Archer-Daniels-Midland Co. |
5,765 | 458,894 | ||||||
Ares Management Corp., Class A |
1,633 | 131,669 | ||||||
Arista Networks, Inc.* |
2,592 | 359,510 | ||||||
Arrow Electronics, Inc.* |
610 | 71,974 | ||||||
Arthur J Gallagher & Co. |
2,164 | 405,425 | ||||||
Aspen Technology, Inc.* |
300 | 63,603 | ||||||
Assurant, Inc. |
648 | 82,549 | ||||||
AT&T, Inc. |
75,404 | 1,425,890 | ||||||
Atmos Energy Corp. |
1,564 | 176,435 | ||||||
Autodesk, Inc.* |
2,294 | 455,795 | ||||||
Automatic Data Processing, Inc. |
4,427 | 973,143 | ||||||
AutoZone, Inc.* |
203 | 504,768 | ||||||
AvalonBay Communities, Inc. REIT |
1,427 | 246,186 | ||||||
Avantor, Inc.* |
6,427 | 156,626 | ||||||
Avery Dennison Corp. |
858 | 156,319 | ||||||
Axon Enterprise, Inc.* |
748 | 149,832 | ||||||
Baker Hughes Co. |
10,045 | 307,377 | ||||||
Ball Corp. |
3,386 | 190,327 | ||||||
Bank of America Corp. |
76,491 | 2,623,641 | ||||||
Bank of New York Mellon Corp. |
8,245 | 419,506 | ||||||
Bath & Body Works, Inc. |
2,230 | 91,140 | ||||||
Baxter International, Inc. |
5,145 | 205,543 | ||||||
Becton Dickinson and Co. |
3,002 | 704,119 | ||||||
Bentley Systems, Inc., Class B |
1,975 | 79,909 | ||||||
Berkshire Hathaway, Inc., Class B* |
13,695 | 4,179,440 | ||||||
Best Buy Co., Inc. |
2,321 | 192,898 | ||||||
BILL Holdings, Inc.* |
985 | 83,361 | ||||||
Biogen, Inc.* |
1,529 | 412,616 | ||||||
BioMarin Pharmaceutical, Inc.* |
1,937 | 192,906 | ||||||
Bio-Rad Laboratories, Inc., Class A* |
238 | 113,726 | ||||||
Bio-Techne Corp. |
1,644 | 119,420 | ||||||
Black Knight, Inc.* |
1,638 | 97,625 | ||||||
BlackRock, Inc. |
1,579 | 1,088,610 | ||||||
Blackstone, Inc. |
7,375 | 669,650 | ||||||
Block, Inc.* |
5,700 | 437,361 | ||||||
Boeing Co.* |
5,919 | 1,192,974 | ||||||
Booking Holdings, Inc.* |
415 | 1,047,460 | ||||||
Booz Allen Hamilton Holding Corp. |
1,547 | 146,547 | ||||||
BorgWarner, Inc. |
2,137 | 107,448 | ||||||
Boston Properties, Inc. REIT |
1,446 | 94,684 | ||||||
Boston Scientific Corp.* |
15,337 | 716,545 | ||||||
Bristol-Myers Squibb Co. |
22,372 | 1,542,773 | ||||||
Broadcom, Inc. |
4,422 | 2,627,950 | ||||||
Broadridge Financial Solutions, Inc. |
1,261 | 177,524 | ||||||
Brookfield Renewable Corp., Class A |
1,360 | 37,960 | ||||||
Brown & Brown, Inc. |
2,740 | 153,632 | ||||||
Brown-Forman Corp., Class B |
3,261 | 211,541 | ||||||
Bunge Ltd. |
1,539 | 146,975 | ||||||
Burlington Stores, Inc.* |
648 | 138,834 | ||||||
C.H. Robinson Worldwide, Inc. |
1,351 | 135,046 | ||||||
Cadence Design Systems, Inc.* |
2,968 | 572,646 |
Number |
Value |
|||||||
United States (Continued) | ||||||||
Caesars Entertainment, Inc.* |
2,164 | $ | 109,845 | |||||
Camden Property Trust REIT |
1,046 | 120,039 | ||||||
Campbell Soup Co. |
1,961 | 102,992 | ||||||
Capital One Financial Corp. |
3,952 | 431,084 | ||||||
Cardinal Health, Inc. |
2,919 | 220,997 | ||||||
Carlisle Cos., Inc. |
544 | 140,472 | ||||||
Carlyle Group, Inc. |
2,012 | 69,213 | ||||||
CarMax, Inc.* |
1,543 | 106,529 | ||||||
Carnival Corp.* |
8,578 | 91,098 | ||||||
Carrier Global Corp. |
9,011 | 405,765 | ||||||
Catalent, Inc.* |
1,790 | 122,114 | ||||||
Caterpillar, Inc. |
5,495 | 1,316,327 | ||||||
Cboe Global Markets, Inc. |
1,003 | 126,549 | ||||||
CBRE Group, Inc., Class A* |
3,244 | 276,194 | ||||||
CDW Corp. |
1,400 | 283,388 | ||||||
Celanese Corp. |
1,236 | 143,660 | ||||||
Centene Corp.* |
5,840 | 399,456 | ||||||
CenterPoint Energy, Inc. |
6,629 | 184,419 | ||||||
Ceridian HCM Holding, Inc.* |
1,364 | 99,477 | ||||||
CF Industries Holdings, Inc. |
2,142 | 183,976 | ||||||
Charles River Laboratories International, Inc.* |
572 | 125,462 | ||||||
Charles Schwab Corp. |
15,263 | 1,189,293 | ||||||
Charter Communications, Inc., Class A* |
1,166 | 428,633 | ||||||
Cheniere Energy, Inc. |
2,418 | 380,448 | ||||||
Chesapeake Energy Corp. (b) |
1,047 | 84,608 | ||||||
Chevron Corp. |
19,428 | 3,123,440 | ||||||
Chewy, Inc., Class A* |
729 | 29,561 | ||||||
Chipotle Mexican Grill, Inc.* |
298 | 444,342 | ||||||
Church & Dwight Co., Inc. |
2,554 | 213,974 | ||||||
Cigna Group |
3,202 | 935,304 | ||||||
Cincinnati Financial Corp. |
1,607 | 193,965 | ||||||
Cintas Corp. |
986 | 432,331 | ||||||
Cisco Systems, Inc. |
43,134 | 2,088,548 | ||||||
Citigroup, Inc. |
20,900 | 1,059,421 | ||||||
Citizens Financial Group, Inc. |
5,144 | 214,813 | ||||||
Cleveland-Cliffs, Inc.* |
5,524 | 117,827 | ||||||
Clorox Co. |
1,295 | 201,295 | ||||||
Cloudflare, Inc., Class A* |
2,816 | 168,988 | ||||||
CME Group, Inc. |
3,698 | 685,461 | ||||||
CMS Energy Corp. |
2,829 | 166,826 | ||||||
Coca-Cola Co. |
43,480 | 2,587,495 | ||||||
Cognex Corp. |
1,507 | 71,462 | ||||||
Cognizant Technology Solutions Corp., Class A |
5,279 | 330,624 | ||||||
Coinbase Global, Inc., Class A* |
1,261 | 81,751 | ||||||
Colgate-Palmolive Co. |
8,319 | 609,783 | ||||||
Comcast Corp., Class A |
45,126 | 1,677,333 | ||||||
Conagra Brands, Inc. |
5,234 | 190,570 | ||||||
ConocoPhillips |
13,114 | 1,355,332 | ||||||
Consolidated Edison, Inc. |
3,731 | 333,365 | ||||||
Constellation Brands, Inc., Class A |
1,735 | 388,120 | ||||||
Constellation Energy Corp. |
3,530 | 264,362 | ||||||
Cooper Cos., Inc. |
542 | 177,218 | ||||||
Copart, Inc.* |
4,362 | 307,347 | ||||||
Corning, Inc. |
8,586 | 291,495 | ||||||
Corteva, Inc. |
7,658 | 477,017 |
See Notes to Financial Statements. | 28 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
United States (Continued) | ||||||||
CoStar Group, Inc.* |
4,323 | $ | 305,463 | |||||
Costco Wholesale Corp. |
4,668 | 2,260,152 | ||||||
Coterra Energy, Inc. |
8,572 | 214,043 | ||||||
Crowdstrike Holdings, Inc., Class A* |
2,058 | 248,380 | ||||||
Crown Castle, Inc. REIT |
4,550 | 594,913 | ||||||
Crown Holdings, Inc. |
1,390 | 120,249 | ||||||
CSX Corp. |
22,131 | 674,774 | ||||||
Cummins, Inc. |
1,427 | 346,875 | ||||||
CVS Health Corp. |
13,617 | 1,137,564 | ||||||
D.R. Horton, Inc. |
3,557 | 328,951 | ||||||
Danaher Corp. |
7,375 | 1,825,534 | ||||||
Darden Restaurants, Inc. |
1,350 | 193,037 | ||||||
Darling Ingredients, Inc.* |
1,612 | 101,991 | ||||||
Datadog, Inc., Class A* |
2,638 | 201,860 | ||||||
DaVita, Inc.* |
690 | 56,759 | ||||||
Deere & Co. |
3,023 | 1,267,363 | ||||||
Dell Technologies, Inc., Class C |
2,718 | 110,460 | ||||||
Delta Air Lines, Inc.* |
1,356 | 51,989 | ||||||
DENTSPLY SIRONA, Inc. (b) |
2,179 | 82,955 | ||||||
Devon Energy Corp. |
6,464 | 348,539 | ||||||
Dexcom, Inc.* |
4,086 | 453,587 | ||||||
Diamondback Energy, Inc. |
1,773 | 249,248 | ||||||
Digital Realty Trust, Inc. REIT |
2,998 | 312,482 | ||||||
Discover Financial Services |
3,002 | 336,224 | ||||||
DISH Network Corp., Class A* |
2,762 | 31,514 | ||||||
DocuSign, Inc.* |
2,070 | 126,995 | ||||||
Dollar General Corp. |
2,437 | 527,123 | ||||||
Dollar Tree, Inc.* |
2,323 | 337,485 | ||||||
Dominion Energy, Inc. |
8,537 | 474,828 | ||||||
Domino’s Pizza, Inc. |
416 | 122,308 | ||||||
DoorDash, Inc., Class A* |
2,429 | 132,769 | ||||||
Dover Corp. |
1,520 | 227,848 | ||||||
Dow, Inc. |
7,658 | 438,038 | ||||||
Dropbox, Inc., Class A* |
2,758 | 56,263 | ||||||
DTE Energy Co. |
2,143 | 235,109 | ||||||
Duke Energy Corp. |
8,100 | 763,506 | ||||||
DuPont de Nemours, Inc. |
5,152 | 376,251 | ||||||
Dynatrace, Inc.* |
2,229 | 94,799 | ||||||
Eastman Chemical Co. |
1,155 | 98,406 | ||||||
Eaton Corp. PLC |
4,101 | 717,388 | ||||||
eBay, Inc. |
5,632 | 258,509 | ||||||
Ecolab, Inc. |
2,762 | 440,180 | ||||||
Edison International |
4,097 | 271,262 | ||||||
Edwards Lifesciences Corp.* |
6,566 | 528,169 | ||||||
Elanco Animal Health, Inc.* |
4,180 | 47,945 | ||||||
Electronic Arts, Inc. |
2,942 | 326,385 | ||||||
Elevance Health, Inc. |
2,539 | 1,192,492 | ||||||
Eli Lilly & Co. |
8,600 | 2,676,492 | ||||||
Emerson Electric Co. |
6,248 | 516,772 | ||||||
Enphase Energy, Inc.* |
1,430 | 301,058 | ||||||
Entegris, Inc. |
1,625 | 138,499 | ||||||
Entergy Corp. |
2,137 | 219,833 | ||||||
EOG Resources, Inc. |
6,164 | 696,655 | ||||||
EPAM Systems, Inc.* |
618 | 190,128 | ||||||
EQT Corp. |
3,570 | 118,453 | ||||||
Equifax, Inc. |
1,312 | 265,719 | ||||||
Equinix, Inc. REIT |
958 | 659,363 |
Number |
Value |
|||||||
United States (Continued) | ||||||||
Equitable Holdings, Inc. |
4,184 | $ | 131,461 | |||||
Equity LifeStyle Properties, Inc. REIT |
2,055 | 140,788 | ||||||
Equity Residential REIT |
4,000 | 250,080 | ||||||
Erie Indemnity Co., Class A |
270 | 63,555 | ||||||
Essential Utilities, Inc. |
2,229 | 95,357 | ||||||
Essex Property Trust, Inc. REIT |
712 | 162,379 | ||||||
Estee Lauder Cos., Inc., Class A |
2,445 | 594,257 | ||||||
Etsy, Inc.* |
1,340 | 162,689 | ||||||
Evergy, Inc. |
2,419 | 142,261 | ||||||
Eversource Energy |
3,480 | 262,253 | ||||||
Exact Sciences Corp.* |
1,889 | 117,741 | ||||||
Exelon Corp. |
10,565 | 426,720 | ||||||
Expedia Group, Inc.* |
1,440 | 156,917 | ||||||
Expeditors International of Washington, Inc. |
1,781 | 186,221 | ||||||
Extra Space Storage, Inc. REIT |
1,379 | 227,052 | ||||||
Exxon Mobil Corp. |
43,517 | 4,782,953 | ||||||
F5, Inc.* |
645 | 92,222 | ||||||
FactSet Research Systems, Inc. |
395 | 163,747 | ||||||
Fair Isaac Corp.* |
280 | 189,669 | ||||||
Fastenal Co. |
6,061 | 312,505 | ||||||
FedEx Corp. |
2,650 | 538,533 | ||||||
Fidelity National Financial, Inc. |
2,642 | 105,310 | ||||||
Fidelity National Information Services, Inc. |
6,459 | 409,307 | ||||||
Fifth Third Bancorp |
7,202 | 261,433 | ||||||
First Citizens BancShares, Inc., Class A |
127 | 93,188 | ||||||
First Horizon Corp. |
5,355 | 132,643 | ||||||
First Republic Bank |
1,976 | 243,068 | ||||||
First Solar, Inc.* |
1,014 | 171,508 | ||||||
FirstEnergy Corp. |
6,250 | 247,125 | ||||||
Fiserv, Inc.* |
6,378 | 734,044 | ||||||
FleetCor Technologies, Inc.* |
709 | 152,286 | ||||||
FMC Corp. |
1,323 | 170,865 | ||||||
Ford Motor Co. |
42,000 | 506,940 | ||||||
Fortinet, Inc.* |
7,280 | 432,723 | ||||||
Fortive Corp. |
3,695 | 246,309 | ||||||
Fortune Brands Innovations, Inc. |
1,453 | 90,013 | ||||||
Fox Corp., Class A |
2,858 | 100,087 | ||||||
Fox Corp., Class B |
1,563 | 50,407 | ||||||
Franklin Resources, Inc. |
3,384 | 99,726 | ||||||
Freeport-McMoRan, Inc. |
14,789 | 605,905 | ||||||
Gaming and Leisure Properties, Inc. REIT |
3,188 | 171,769 | ||||||
Gartner, Inc.* |
797 | 261,265 | ||||||
GE HealthCare Technologies, Inc.* |
3,819 | 290,244 | ||||||
Gen Digital, Inc. |
5,685 | 110,914 | ||||||
Generac Holdings, Inc.* |
656 | 78,727 | ||||||
General Dynamics Corp. |
2,457 | 559,975 | ||||||
General Electric Co. |
11,459 | 970,692 | ||||||
General Mills, Inc. |
6,222 | 494,711 | ||||||
General Motors Co. |
14,540 | 563,280 | ||||||
Genuine Parts Co. |
1,546 | 273,426 | ||||||
Gilead Sciences, Inc. |
13,234 | 1,065,734 | ||||||
Global Payments, Inc. |
2,971 | 333,346 | ||||||
Globe Life, Inc. |
997 | 121,325 | ||||||
GoDaddy, Inc., Class A* |
1,757 | 133,022 |
See Notes to Financial Statements. | 29 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
United States (Continued) | ||||||||
Goldman Sachs Group, Inc. |
3,583 | $ | 1,259,962 | |||||
Graco, Inc. |
1,383 | 96,174 | ||||||
Halliburton Co. |
9,817 | 355,670 | ||||||
Hartford Financial Services Group, Inc. |
3,435 | 268,892 | ||||||
Hasbro, Inc. |
1,356 | 74,594 | ||||||
HCA Healthcare, Inc. |
2,248 | 547,276 | ||||||
Healthcare Realty Trust, Inc. REIT (b) |
3,990 | 77,805 | ||||||
Healthpeak Properties, Inc. REIT |
6,159 | 148,186 | ||||||
HEICO Corp. |
474 | 78,480 | ||||||
HEICO Corp., Class A |
814 | 105,942 | ||||||
Henry Schein, Inc.* |
1,355 | 106,110 | ||||||
Hershey Co. |
1,539 | 366,774 | ||||||
Hess Corp. |
2,852 | 384,164 | ||||||
Hewlett Packard Enterprise Co. |
13,698 | 213,826 | ||||||
HF Sinclair Corp. |
1,694 | 84,226 | ||||||
Hilton Worldwide Holdings, Inc. |
2,833 | 409,397 | ||||||
Hologic, Inc.* |
2,418 | 192,570 | ||||||
Home Depot, Inc. |
10,732 | 3,182,467 | ||||||
Honeywell International, Inc. |
7,084 | 1,356,444 | ||||||
Horizon Therapeutics PLC* |
2,211 | 242,082 | ||||||
Hormel Foods Corp. |
3,380 | 150,004 | ||||||
Host Hotels & Resorts, Inc. REIT |
7,189 | 120,775 | ||||||
Howmet Aerospace, Inc. |
4,250 | 179,265 | ||||||
HP, Inc. |
11,114 | 328,085 | ||||||
Hubbell, Inc. |
558 | 140,359 | ||||||
HubSpot, Inc.* |
474 | 183,372 | ||||||
Humana, Inc. |
1,333 | 659,862 | ||||||
Huntington Bancshares, Inc. |
15,700 | 240,524 | ||||||
Huntington Ingalls Industries, Inc. |
418 | 89,954 | ||||||
IDEX Corp. |
833 | 187,408 | ||||||
IDEXX Laboratories, Inc.* |
889 | 420,710 | ||||||
Illinois Tool Works, Inc. |
3,294 | 768,029 | ||||||
Illumina, Inc.* |
1,775 | 353,580 | ||||||
Incyte Corp.* |
2,048 | 157,655 | ||||||
Ingersoll Rand, Inc. |
4,270 | 247,959 | ||||||
Insulet Corp.* |
737 | 203,677 | ||||||
Intel Corp. |
43,500 | 1,084,455 | ||||||
Intercontinental Exchange, Inc. |
5,764 | 586,775 | ||||||
International Business Machines Corp. |
9,475 | 1,225,118 | ||||||
International Flavors & Fragrances, Inc. |
2,713 | 252,852 | ||||||
International Paper Co. |
4,004 | 145,706 | ||||||
Interpublic Group of Cos., Inc. |
4,148 | 147,420 | ||||||
Intuit, Inc. |
2,851 | 1,160,870 | ||||||
Intuitive Surgical, Inc.* |
3,771 | 865,030 | ||||||
Invesco Ltd. |
4,276 | 75,514 | ||||||
Invitation Homes, Inc. REIT |
6,448 | 201,564 | ||||||
IQVIA Holdings, Inc.* |
1,919 | 400,054 | ||||||
Iron Mountain, Inc. REIT |
3,250 | 171,438 | ||||||
J M Smucker Co. |
1,183 | 174,954 | ||||||
Jack Henry & Associates, Inc. |
695 | 114,147 | ||||||
Jacobs Solutions, Inc. |
1,444 | 172,558 | ||||||
JB Hunt Transport Services, Inc. |
800 | 144,632 | ||||||
Johnson & Johnson |
27,656 | 4,238,559 | ||||||
Johnson Controls International PLC |
7,193 | 451,145 | ||||||
JPMorgan Chase & Co. |
30,943 | 4,435,679 | ||||||
Juniper Networks, Inc. |
2,860 | 88,031 | ||||||
Kellogg Co. |
2,891 | 190,633 |
Number |
Value |
|||||||
United States (Continued) | ||||||||
Keurig Dr Pepper, Inc. |
7,798 | $ | 269,421 | |||||
KeyCorp |
8,447 | 154,496 | ||||||
Keysight Technologies, Inc.* |
1,923 | 307,603 | ||||||
Kimberly-Clark Corp. |
3,570 | 446,429 | ||||||
Kimco Realty Corp. REIT |
7,106 | 146,455 | ||||||
Kinder Morgan, Inc. |
21,920 | 373,955 | ||||||
KKR & Co., Inc. |
5,662 | 319,054 | ||||||
KLA Corp. |
1,475 | 559,586 | ||||||
Knight-Swift Transportation Holdings, Inc. |
1,544 | 87,761 | ||||||
Kraft Heinz Co. |
7,735 | 301,201 | ||||||
Kroger Co. |
7,600 | 327,864 | ||||||
L3Harris Technologies, Inc. |
2,033 | 429,349 | ||||||
Laboratory Corp. of America Holdings |
986 | 236,009 | ||||||
Lam Research Corp. |
1,478 | 718,323 | ||||||
Lamb Weston Holdings, Inc. |
1,448 | 145,727 | ||||||
Las Vegas Sands Corp.* |
4,006 | 230,225 | ||||||
Lear Corp. |
642 | 89,655 | ||||||
Leidos Holdings, Inc. |
1,260 | 122,308 | ||||||
Lennar Corp., Class A |
2,857 | 276,386 | ||||||
Lennox International, Inc. |
344 | 87,662 | ||||||
Liberty Broadband Corp., Class C* |
1,244 | 107,817 | ||||||
Liberty Media Corp.-Liberty Formula One, Class C* |
2,225 | 151,011 | ||||||
Liberty Media Corp-Liberty SiriusXM, Class A* |
832 | 26,948 | ||||||
Liberty Media Corp-Liberty SiriusXM, Class C* |
1,979 | 63,763 | ||||||
Live Nation Entertainment, Inc.* |
1,893 | 136,410 | ||||||
LKQ Corp. |
2,563 | 146,834 | ||||||
Lockheed Martin Corp. |
2,506 | 1,188,496 | ||||||
Loews Corp. |
2,121 | 129,572 | ||||||
Lowe’s Cos., Inc. |
6,353 | 1,307,130 | ||||||
LPL Financial Holdings, Inc. |
845 | 210,878 | ||||||
Lucid Group, Inc.* |
4,242 | 38,729 | ||||||
LyondellBasell Industries NV, Class A |
2,890 | 277,411 | ||||||
M&T Bank Corp. |
1,796 | 278,901 | ||||||
Marathon Oil Corp. |
6,295 | 158,319 | ||||||
Marathon Petroleum Corp. |
4,948 | 611,573 | ||||||
Markel Corp.* |
145 | 192,830 | ||||||
MarketAxess Holdings, Inc. |
395 | 134,873 | ||||||
Marriott International, Inc., Class A |
2,923 | 494,689 | ||||||
Marsh & McLennan Cos., Inc. |
5,292 | 858,045 | ||||||
Martin Marietta Materials, Inc. |
625 | 224,919 | ||||||
Marvell Technology, Inc. |
9,073 | 409,646 | ||||||
Masco Corp. |
2,287 | 119,907 | ||||||
Masimo Corp.* |
621 | 103,900 | ||||||
Mastercard, Inc., Class A |
9,099 | 3,232,784 | ||||||
Match Group, Inc.* |
2,861 | 118,503 | ||||||
McCormick & Co., Inc. |
2,715 | 201,779 | ||||||
McDonald’s Corp. |
7,743 | 2,043,455 | ||||||
McKesson Corp. |
1,488 | 520,517 | ||||||
Medical Properties Trust, Inc. REIT |
6,367 | 65,580 | ||||||
Merck & Co., Inc. |
26,628 | 2,828,959 | ||||||
Meta Platforms, Inc., Class A* |
23,752 | 4,155,175 | ||||||
MetLife, Inc. |
6,982 | 500,819 | ||||||
Mettler-Toledo International, Inc.* |
243 | 348,392 |
See Notes to Financial Statements. | 30 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
United States (Continued) | ||||||||
MGM Resorts International |
3,720 | $ | 159,997 | |||||
Microchip Technology, Inc. |
5,812 | 470,946 | ||||||
Micron Technology, Inc. |
11,492 | 664,467 | ||||||
Microsoft Corp. |
74,789 | 18,653,872 | ||||||
Mid-America Apartment Communities, Inc. REIT |
1,266 | 202,687 | ||||||
Moderna, Inc.* |
3,440 | 477,506 | ||||||
Mohawk Industries, Inc.* |
416 | 42,786 | ||||||
Molina Healthcare, Inc.* |
655 | 180,341 | ||||||
Molson Coors Beverage Co., Class B |
1,967 | 104,625 | ||||||
Mondelez International, Inc., Class A |
14,430 | 940,547 | ||||||
MongoDB, Inc.* |
656 | 137,445 | ||||||
Monolithic Power Systems, Inc. |
463 | 224,226 | ||||||
Monster Beverage Corp.* |
4,116 | 418,844 | ||||||
Moody’s Corp. |
1,751 | 508,053 | ||||||
Morgan Stanley |
13,456 | 1,298,504 | ||||||
Mosaic Co. |
3,536 | 188,080 | ||||||
Motorola Solutions, Inc. |
1,768 | 464,648 | ||||||
MSCI, Inc. |
858 | 448,005 | ||||||
Nasdaq, Inc. |
3,630 | 203,498 | ||||||
NetApp, Inc. |
2,318 | 149,627 | ||||||
Netflix, Inc.* |
4,672 | 1,504,991 | ||||||
Neurocrine Biosciences, Inc.* |
972 | 100,213 | ||||||
Newell Brands, Inc. (b) |
4,259 | 62,565 | ||||||
Newmont Corp. |
8,140 | 354,985 | ||||||
News Corp., Class A |
4,251 | 72,905 | ||||||
NextEra Energy, Inc. |
20,992 | 1,491,062 | ||||||
NIKE, Inc., Class B |
13,251 | 1,574,086 | ||||||
NiSource, Inc. |
4,271 | 117,154 | ||||||
Nordson Corp. |
502 | 110,259 | ||||||
Norfolk Southern Corp. |
2,366 | 531,924 | ||||||
Northern Trust Corp. |
2,200 | 209,594 | ||||||
Northrop Grumman Corp. |
1,542 | 715,658 | ||||||
NRG Energy, Inc. |
2,670 | 87,549 | ||||||
Nucor Corp. |
2,702 | 452,423 | ||||||
NVIDIA Corp. |
26,009 | 6,038,249 | ||||||
NVR, Inc.* |
33 | 170,729 | ||||||
Occidental Petroleum Corp. |
8,040 | 470,822 | ||||||
Okta, Inc.* |
1,582 | 112,781 | ||||||
Old Dominion Freight Line, Inc. |
1,025 | 347,742 | ||||||
Omnicom Group, Inc. |
2,139 | 193,729 | ||||||
ON Semiconductor Corp.* |
4,796 | 371,258 | ||||||
ONEOK, Inc. |
4,712 | 308,400 | ||||||
Oracle Corp. |
17,187 | 1,502,144 | ||||||
O’Reilly Automotive, Inc.* |
664 | 551,186 | ||||||
Otis Worldwide Corp. |
4,286 | 362,681 | ||||||
Ovintiv, Inc. |
2,599 | 111,159 | ||||||
Owens Corning |
1,040 | 101,702 | ||||||
PACCAR, Inc. |
5,355 | 386,631 | ||||||
Packaging Corp. of America |
988 | 135,079 | ||||||
Palantir Technologies, Inc., Class A* (b) |
18,341 | 143,793 | ||||||
Palo Alto Networks, Inc.* |
3,102 | 584,324 | ||||||
Paramount Global, Class B |
6,550 | 140,301 | ||||||
Parker-Hannifin Corp. |
1,390 | 489,072 | ||||||
Paychex, Inc. |
3,475 | 383,640 | ||||||
Paycom Software, Inc.* |
579 | 167,366 | ||||||
Paylocity Holding Corp.* |
417 | 80,318 |
Number |
Value |
|||||||
United States (Continued) | ||||||||
PayPal Holdings, Inc.* |
11,492 | $ | 845,811 | |||||
PepsiCo, Inc. |
14,600 | 2,533,538 | ||||||
PerkinElmer, Inc. |
1,281 | 159,574 | ||||||
Pfizer, Inc. |
59,263 | 2,404,300 | ||||||
PG&E Corp.* (b) |
16,078 | 251,138 | ||||||
Philip Morris International, Inc. |
16,241 | 1,580,249 | ||||||
Phillips 66 |
5,045 | 517,415 | ||||||
Pinterest, Inc., Class A* |
5,608 | 140,817 | ||||||
Pioneer Natural Resources Co. |
2,434 | 487,798 | ||||||
Plug Power, Inc.* (b) |
5,060 | 75,242 | ||||||
PNC Financial Services Group, Inc. |
4,328 | 683,478 | ||||||
Pool Corp. |
420 | 149,881 | ||||||
PPG Industries, Inc. |
2,483 | 327,905 | ||||||
PPL Corp. |
7,747 | 209,711 | ||||||
Principal Financial Group, Inc. |
2,538 | 227,303 | ||||||
Procter & Gamble Co. |
25,028 | 3,442,852 | ||||||
Progressive Corp. |
6,012 | 862,842 | ||||||
Prologis, Inc. REIT |
9,731 | 1,200,805 | ||||||
Prudential Financial, Inc. |
3,959 | 395,900 | ||||||
PTC, Inc.* |
1,168 | 146,385 | ||||||
Public Service Enterprise Group, Inc. |
5,033 | 304,144 | ||||||
Public Storage REIT |
1,713 | 512,101 | ||||||
PulteGroup, Inc. |
2,267 | 123,937 | ||||||
Qorvo, Inc.* |
1,140 | 115,015 | ||||||
QUALCOMM, Inc. |
11,770 | 1,453,948 | ||||||
Quanta Services, Inc. |
1,516 | 244,682 | ||||||
Quest Diagnostics, Inc. |
1,142 | 158,007 | ||||||
Raymond James Financial, Inc. |
2,065 | 223,970 | ||||||
Raytheon Technologies Corp. |
15,262 | 1,497,050 | ||||||
Realty Income Corp. REIT |
6,945 | 444,133 | ||||||
Regency Centers Corp. REIT |
1,627 | 102,338 | ||||||
Regeneron Pharmaceuticals, Inc.* |
1,113 | 846,347 | ||||||
Regions Financial Corp. |
9,121 | 212,702 | ||||||
Reliance Steel & Aluminum Co. |
586 | 145,234 | ||||||
Repligen Corp.* |
536 | 93,462 | ||||||
Republic Services, Inc. |
2,228 | 287,256 | ||||||
ResMed, Inc. |
1,542 | 328,446 | ||||||
Rivian Automotive, Inc., Class A* |
3,208 | 61,914 | ||||||
Robert Half International, Inc. |
991 | 79,894 | ||||||
ROBLOX Corp., Class A* |
3,704 | 135,715 | ||||||
Rockwell Automation, Inc. |
1,222 | 360,404 | ||||||
Roku, Inc.* |
1,279 | 82,739 | ||||||
Rollins, Inc. |
2,250 | 79,200 | ||||||
Roper Technologies, Inc. |
1,109 | 477,092 | ||||||
Ross Stores, Inc. |
3,723 | 411,540 | ||||||
Royal Caribbean Cruises Ltd.* (b) |
2,320 | 163,885 | ||||||
Royalty Pharma PLC, Class A |
3,547 | 127,160 | ||||||
RPM International, Inc. |
1,356 | 120,182 | ||||||
S&P Global, Inc. |
3,592 | 1,225,590 | ||||||
Salesforce, Inc.* |
10,610 | 1,735,902 | ||||||
SBA Communications Corp. REIT |
1,143 | 296,437 | ||||||
Schlumberger NV |
15,258 | 811,878 | ||||||
Seagate Technology Holdings PLC |
2,047 | 132,154 | ||||||
Seagen, Inc.* |
1,502 | 269,894 | ||||||
Sealed Air Corp. |
1,562 | 75,944 | ||||||
SEI Investments Co. |
1,281 | 77,180 | ||||||
Sempra Energy |
3,323 | 498,317 |
See Notes to Financial Statements. | 31 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
United States (Continued) | ||||||||
Sensata Technologies Holding PLC |
1,547 | $ | 78,247 | |||||
ServiceNow, Inc.* |
2,108 | 911,014 | ||||||
Sherwin-Williams Co. |
2,546 | 563,557 | ||||||
Signature Bank |
664 | 76,393 | ||||||
Simon Property Group, Inc. REIT |
3,600 | 439,524 | ||||||
Sirius XM Holdings, Inc. (b) |
7,954 | 34,918 | ||||||
Skyworks Solutions, Inc. |
1,724 | 192,347 | ||||||
Snap, Inc., Class A* |
11,247 | 114,157 | ||||||
Snap-on, Inc. |
561 | 139,509 | ||||||
Snowflake, Inc., Class A* |
2,356 | 363,719 | ||||||
Southern Co. |
11,291 | 712,010 | ||||||
Southwest Airlines Co. |
1,546 | 51,915 | ||||||
Splunk, Inc.* |
1,675 | 171,688 | ||||||
SS&C Technologies Holdings, Inc. |
2,677 | 157,140 | ||||||
Stanley Black & Decker, Inc. |
1,724 | 147,592 | ||||||
Starbucks Corp. |
12,117 | 1,237,025 | ||||||
State Street Corp. |
3,767 | 334,058 | ||||||
Steel Dynamics, Inc. |
1,815 | 228,890 | ||||||
STERIS PLC |
1,051 | 197,620 | ||||||
Stryker Corp. |
3,570 | 938,482 | ||||||
Sun Communities, Inc. REIT |
1,273 | 182,217 | ||||||
SVB Financial Group* |
638 | 183,814 | ||||||
Synchrony Financial |
4,811 | 171,801 | ||||||
Synopsys, Inc.* |
1,615 | 587,472 | ||||||
Sysco Corp. |
5,342 | 398,353 | ||||||
T. Rowe Price Group, Inc. |
2,324 | 260,939 | ||||||
Take-Two Interactive Software, Inc.* |
1,705 | 186,783 | ||||||
Targa Resources Corp. |
2,286 | 169,393 | ||||||
Target Corp. |
4,800 | 808,800 | ||||||
TE Connectivity Ltd. |
3,398 | 432,633 | ||||||
Teledyne Technologies, Inc.* |
469 | 201,703 | ||||||
Teleflex, Inc. |
549 | 130,788 | ||||||
Teradyne, Inc. |
1,714 | 173,354 | ||||||
Tesla, Inc.* |
28,344 | 5,830,644 | ||||||
Texas Instruments, Inc. |
9,533 | 1,634,433 | ||||||
Texas Pacific Land Corp. (b) |
65 | 115,712 | ||||||
Textron, Inc. |
2,237 | 162,250 | ||||||
Thermo Fisher Scientific, Inc. |
4,119 | 2,231,509 | ||||||
TJX Cos., Inc. |
12,299 | 942,103 | ||||||
T-Mobile US, Inc.* |
6,536 | 929,288 | ||||||
Toast, Inc., Class A* |
2,408 | 45,559 | ||||||
Toro Co. |
1,099 | 121,374 | ||||||
Tractor Supply Co. |
1,125 | 262,418 | ||||||
Trade Desk, Inc., Class A* |
4,734 | 264,915 | ||||||
Tradeweb Markets, Inc., Class A |
1,177 | 83,438 | ||||||
TransDigm Group, Inc. |
523 | 389,044 | ||||||
TransUnion |
2,164 | 141,591 | ||||||
Travelers Cos., Inc. |
2,449 | 453,359 | ||||||
Trimble, Inc.* |
2,760 | 143,686 | ||||||
Truist Financial Corp. |
14,118 | 662,840 | ||||||
Twilio, Inc., Class A* |
1,806 | 121,381 | ||||||
Tyler Technologies, Inc.* |
433 | 139,101 | ||||||
Tyson Foods, Inc., Class A |
2,930 | 173,573 | ||||||
Uber Technologies, Inc.* |
15,618 | 519,455 | ||||||
UDR, Inc. REIT |
3,351 | 143,557 | ||||||
UGI Corp. |
2,049 | 76,284 | ||||||
U-Haul Holding Co. |
936 | 52,070 |
Number |
Value |
|||||||
United States (Continued) | ||||||||
Ulta Beauty, Inc.* |
538 | $ | 279,114 | |||||
Union Pacific Corp. |
6,559 | 1,359,550 | ||||||
United Parcel Service, Inc., Class B |
7,691 | 1,403,531 | ||||||
United Rentals, Inc. |
744 | 348,586 | ||||||
United Therapeutics Corp.* |
506 | 124,496 | ||||||
UnitedHealth Group, Inc. |
9,821 | 4,674,207 | ||||||
Unity Software, Inc.* |
2,754 | 83,832 | ||||||
Universal Health Services, Inc., Class B |
639 | 85,351 | ||||||
US Bancorp |
14,902 | 711,272 | ||||||
Vail Resorts, Inc. |
423 | 98,766 | ||||||
Valero Energy Corp. |
4,087 | 538,381 | ||||||
Veeva Systems, Inc., Class A* |
1,443 | 239,047 | ||||||
Ventas, Inc. REIT |
4,207 | 204,671 | ||||||
VeriSign, Inc.* |
1,041 | 204,900 | ||||||
Verisk Analytics, Inc. |
1,702 | 291,229 | ||||||
Verizon Communications, Inc. |
44,800 | 1,738,688 | ||||||
Vertex Pharmaceuticals, Inc.* |
2,680 | 777,977 | ||||||
VF Corp. |
3,578 | 88,806 | ||||||
Viatris, Inc. |
12,635 | 144,039 | ||||||
VICI Properties, Inc. REIT |
10,150 | 340,330 | ||||||
Visa, Inc., Class A |
17,140 | 3,769,772 | ||||||
Vistra Corp. |
3,460 | 76,085 | ||||||
VMware, Inc., Class A* |
2,156 | 237,440 | ||||||
Vulcan Materials Co. |
1,343 | 242,962 | ||||||
W.R. Berkley Corp. |
2,019 | 133,638 | ||||||
W.W. Grainger, Inc. |
482 | 322,183 | ||||||
Walgreens Boots Alliance, Inc. |
7,593 | 269,779 | ||||||
Walmart, Inc. |
15,866 | 2,255,035 | ||||||
Walt Disney Co.* |
19,135 | 1,906,037 | ||||||
Warner Bros Discovery, Inc.* |
24,676 | 385,439 | ||||||
Waste Connections, Inc. |
2,709 | 362,789 | ||||||
Waste Management, Inc. |
4,364 | 653,553 | ||||||
Waters Corp.* |
659 | 204,877 | ||||||
Webster Financial Corp. |
1,974 | 104,859 | ||||||
WEC Energy Group, Inc. |
3,321 | 294,440 | ||||||
Wells Fargo & Co. |
40,176 | 1,879,032 | ||||||
Welltower, Inc. REIT |
4,710 | 349,105 | ||||||
West Pharmaceutical Services, Inc. |
763 | 241,894 | ||||||
Western Digital Corp.* |
3,546 | 136,450 | ||||||
Westinghouse Air Brake Technologies Corp. |
1,894 | 197,601 | ||||||
Westlake Corp. |
402 | 47,894 | ||||||
Westrock Co. |
2,772 | 87,041 | ||||||
Weyerhaeuser Co. REIT |
7,864 | 245,750 | ||||||
Whirlpool Corp. |
645 | 88,997 | ||||||
Williams Cos., Inc. |
12,689 | 381,939 | ||||||
Wolfspeed, Inc.* |
1,274 | 94,251 | ||||||
Workday, Inc., Class A* |
2,081 | 385,963 | ||||||
WP Carey, Inc. REIT |
2,007 | 162,888 | ||||||
Wynn Resorts Ltd.* |
1,183 | 128,202 | ||||||
Xcel Energy, Inc. |
5,797 | 374,312 | ||||||
Xylem, Inc. |
2,048 | 210,227 | ||||||
Yum! Brands, Inc. |
2,954 | 375,631 | ||||||
Zebra Technologies Corp., Class A* |
531 | 159,433 | ||||||
Zillow Group, Inc., Class C* |
1,452 | 60,984 | ||||||
Zimmer Biomet Holdings, Inc. |
2,143 | 265,453 | ||||||
Zoetis, Inc. |
4,903 | 818,801 |
See Notes to Financial Statements. | 32 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
United States (Continued) | ||||||||
Zoom Video Communications, Inc., Class A* |
2,314 | $ | 172,601 | |||||
ZoomInfo Technologies, Inc. * |
2,760 | 66,709 | ||||||
Zscaler, Inc.* |
975 | 127,871 | ||||||
|
|
|||||||
(Cost $363,126,626) |
360,911,745 | |||||||
|
|
|||||||
Uruguay — 0.1% | ||||||||
MercadoLibre,
Inc.* |
476 | 580,720 | ||||||
|
|
|||||||
TOTAL
COMMON STOCKS |
513,793,275 | |||||||
|
|
|||||||
PREFERRED STOCKS — 0.1% | ||||||||
Germany — 0.1% | ||||||||
Bayerische Motoren Werke AG |
558 | 53,111 | ||||||
Dr Ing hc F Porsche AG* |
1,198 | 144,962 | ||||||
Henkel AG & Co. KGaA |
1,875 | 136,844 | ||||||
Porsche Automobil Holding SE |
1,615 | 92,075 | ||||||
Sartorius AG |
259 | 110,582 | ||||||
Volkswagen AG |
1,973 | 270,250 | ||||||
|
|
|||||||
(Cost $900,239) |
807,824 | |||||||
|
|
|||||||
United States — 0.0% | ||||||||
AMC
Entertainment Holdings, Inc.* |
5,444 | 11,269 | ||||||
|
|
|||||||
TOTAL
PREFERRED STOCKS |
819,093 | |||||||
|
|
Number |
Value |
|||||||
RIGHTS — 0.0% | ||||||||
Hong Kong — 0.0% | ||||||||
Link
REIT*, expires 3/27/23 |
4,184 | $ | 3,945 | |||||
|
|
|||||||
WARRANTS — 0.0% | ||||||||
Switzerland — 0.0% | ||||||||
Cie
Financiere Richemont SA*, expires 11/22/23 |
19,824 | 23,266 | ||||||
|
|
|||||||
SECURITIES LENDING COLLATERAL — 0.2% | ||||||||
DWS
Government & Agency Securities Portfolio “DWS Government Cash
Institutional Shares”, 4.39% (e)(f) |
1,008,168 | 1,008,168 | ||||||
|
|
|||||||
CASH EQUIVALENTS — 0.3% | ||||||||
DWS
Government Money Market Series “Institutional Shares”, 4.51% (e) |
1,449,681 | 1,449,681 | ||||||
|
|
|||||||
TOTAL INVESTMENTS — 99.7% |
||||||||
(Cost $517,955,185) |
$ | 517,097,428 | ||||||
Other assets and liabilities, net — 0.3% |
1,723,347 | |||||||
|
|
|||||||
NET ASSETS — 100.0% |
$ | 518,820,775 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2023 is as follows:
Value ($) at 8/31/2022 |
Purchases Cost ($) |
Sales Proceeds ($) |
Net Realized Gain/(Loss) ($) |
Net Change in Unrealized Appreciation (Depreciation) ($) |
Income ($) | Capital Gain Distributions ($) |
Number of Shares at 2/28/2023 |
Value ($) at 2/28/2023 |
||||||||||||||||||||||||||||
COMMON STOCKS — 0.1% |
| |||||||||||||||||||||||||||||||||||
Germany — 0.1% |
| |||||||||||||||||||||||||||||||||||
Deutsche Bank AG (d) |
| |||||||||||||||||||||||||||||||||||
178,464 | — | — | — | 88,383 | — | — | 21,324 | 266,847 | ||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 0.2% |
| |||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 4.39% (e)(f) |
| |||||||||||||||||||||||||||||||||||
339,649 | 668,519 | (g) | — | — | — | 16,452 | — | 1,008,168 | 1,008,168 | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.3% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 4.51% (e) |
| |||||||||||||||||||||||||||||||||||
995,448 | 6,273,086 | (5,818,853 | ) | — | — | 24,489 | — | 1,449,681 | 1,449,681 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
1,513,561 | 6,941,605 | (5,818,853 | ) | — | 88,383 | 40,941 | — | 2,479,173 | 2,724,696 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
Non-income producing security. |
(a) |
Stapled Security — A security contractually bound to one or more other securities to form a single saleable unit which cannot be sold separately. |
(b) |
All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2023 amounted to $4,329,701, which is 0.8% of net assets. |
(c) |
Investment was valued using significant unobservable inputs. |
(d) |
Affiliated issuer. This security is owned in proportion with its representation in the index. |
(e) |
Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
See Notes to Financial Statements. | 33 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2023 (Unaudited)
(f) |
Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund held non-cash U.S. Treasury securities collateral having a value of $3,594,106. |
(g) |
Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2023. |
ADR: | American Depositary Receipt |
CDI: | Chess Depositary Interests |
CVA: | Credit Valuation Adjustment |
REIT: | Real Estate Investment Trust |
144A: | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
Securities are listed in country of domicile.
At February 28, 2023, open futures contracts purchased were as follows:
Contract Description |
Currency | Number of Contracts |
Notional Amount |
Contract Value |
Expiration Date |
Unrealized Appreciation (Depreciation) |
||||||||||||
S&P 500 E-Mini Futures |
USD | 10 | $ | 2,005,494 | $ | 1,987,750 | 3/17/2023 | $ | (17,744 | ) | ||||||||
S&P Mid 400 E-Mini Futures |
USD | 2 | 502,960 | 520,640 | 3/17/2023 | 17,680 | ||||||||||||
MINI S&P/TSX 60 Futures |
CAD | 1 | 44,422 | 44,680 | 3/16/2023 | 258 | ||||||||||||
MSCI EAFE Futures |
USD | 14 | 1,432,665 | 1,432,620 | 3/17/2023 | (45 | ) | |||||||||||
|
|
|||||||||||||||||
Total net unrealized appreciation |
$ | 149 | ||||||||||||||||
|
|
For information on the Fund’s policy and additional disclosures regarding open futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
Currency Abbreviations
CAD | Canadian Dollar |
USD | U.S. Dollar |
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2023 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
Assets |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stocks (a) |
$ | 513,757,630 | $ | — | $ | 35,645 | $ | 513,793,275 | ||||||||
Preferred Stocks (a) |
819,093 | — | — | 819,093 | ||||||||||||
Rights |
— | 3,945 | — | 3,945 | ||||||||||||
Warrants |
23,266 | — | — | 23,266 | ||||||||||||
Short-Term Investments (a) |
2,457,849 | — | — | 2,457,849 | ||||||||||||
Derivatives (b) |
||||||||||||||||
Futures Contracts |
17,938 | — | — | 17,938 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
TOTAL |
$ | 517,075,776 | $ | 3,945 | $ | 35,645 | $ | 517,115,366 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Liabilities |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Derivatives (b) |
||||||||||||||||
Futures Contracts |
$ | (17,789 | ) | $ | — | $ | — | $ | (17,789 | ) | ||||||
|
|
|
|
|
|
|
|
|||||||||
TOTAL |
$ | (17,789 | ) | $ | — | $ | — | $ | (17,789 | ) | ||||||
|
|
|
|
|
|
|
|
(a) |
See Schedule of Investments for additional detailed categorizations. |
(b) |
Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
See Notes to Financial Statements. | 34 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
COMMON STOCKS — 99.6% | ||||||||
Communication Services — 9.8% | ||||||||
Activision Blizzard, Inc. |
250 | $ | 19,063 | |||||
Alphabet, Inc., Class A* |
2,163 | 194,800 | ||||||
Alphabet, Inc., Class C* |
2,015 | 181,955 | ||||||
AT&T, Inc. |
2,596 | 49,090 | ||||||
Charter Communications, Inc., Class A* (a) |
41 | 15,072 | ||||||
Comcast Corp., Class A |
1,183 | 43,972 | ||||||
Electronic Arts, Inc. |
127 | 14,089 | ||||||
Fox Corp., Class A |
176 | 6,164 | ||||||
Fox Corp., Class B |
84 | 2,709 | ||||||
Interpublic Group of Cos., Inc. |
315 | 11,195 | ||||||
Lumen Technologies, Inc. |
294 | 1,000 | ||||||
Meta Platforms, Inc., Class A* |
1,895 | 331,511 | ||||||
New York Times Co., Class A |
82 | 3,157 | ||||||
News Corp., Class A |
107 | 1,835 | ||||||
Omnicom Group, Inc. |
86 | 7,789 | ||||||
Pinterest, Inc., Class A* |
186 | 4,670 | ||||||
Spotify Technology SA* |
34 | 3,954 | ||||||
Take-Two Interactive Software, Inc.* |
18 | 1,972 | ||||||
Verizon Communications, Inc. |
688 | 26,701 | ||||||
Walt Disney Co.* |
23 | 2,291 | ||||||
Warner Bros Discovery, Inc.* |
249 | 3,889 | ||||||
|
|
|||||||
(Cost $1,133,961) |
926,878 | |||||||
|
|
|||||||
Consumer Discretionary — 12.9% | ||||||||
Advance Auto Parts, Inc. |
64 | 9,277 | ||||||
Amazon.com, Inc.* |
786 | 74,065 | ||||||
AutoNation, Inc.* |
57 | 7,781 | ||||||
AutoZone, Inc.* |
14 | 34,812 | ||||||
Bath & Body Works, Inc. |
174 | 7,111 | ||||||
Best Buy Co., Inc. |
337 | 28,008 | ||||||
Booking Holdings, Inc.* |
5 | 12,620 | ||||||
BorgWarner, Inc. |
154 | 7,743 | ||||||
Burlington Stores, Inc.* |
39 | 8,356 | ||||||
Capri Holdings Ltd.* |
102 | 5,056 | ||||||
Chipotle Mexican Grill, Inc.* |
10 | 14,911 | ||||||
Columbia Sportswear Co. |
32 | 2,790 | ||||||
D.R. Horton, Inc. |
130 | 12,022 | ||||||
Darden Restaurants, Inc. |
59 | 8,436 | ||||||
Deckers Outdoor Corp.* |
18 | 7,494 | ||||||
Dick’s Sporting Goods, Inc. |
92 | 11,834 | ||||||
Dollar General Corp. |
150 | 32,445 | ||||||
Dollar Tree, Inc.* |
56 | 8,136 | ||||||
Domino’s Pizza, Inc. |
18 | 5,292 | ||||||
eBay, Inc. |
203 | 9,318 | ||||||
Expedia Group, Inc.* |
62 | 6,756 | ||||||
Five Below, Inc.* |
25 | 5,107 | ||||||
Floor & Decor Holdings, Inc., Class A* |
46 | 4,223 | ||||||
Garmin Ltd. |
96 | 9,420 | ||||||
Gentex Corp. |
161 | 4,597 | ||||||
Genuine Parts Co. |
78 | 13,795 | ||||||
Grand Canyon Education, Inc.* |
35 | 3,965 | ||||||
Home Depot, Inc. |
669 | 198,385 | ||||||
Kohl’s Corp. |
126 | 3,533 | ||||||
Lear Corp. |
27 | 3,771 | ||||||
Lennar Corp., Class A |
190 | 18,381 | ||||||
Lithia Motors, Inc. |
20 | 5,104 |
Number |
Value |
|||||||
Consumer Discretionary (Continued) | ||||||||
LKQ Corp. |
170 | $ | 9,739 | |||||
Lowe’s Cos., Inc. |
607 | 124,890 | ||||||
Lululemon Athletica, Inc.* |
45 | 13,914 | ||||||
Macy’s, Inc. |
331 | 6,772 | ||||||
Mohawk Industries, Inc.* |
48 | 4,937 | ||||||
NIKE, Inc., Class B |
397 | 47,160 | ||||||
NVR, Inc.* |
3 | 15,521 | ||||||
O’Reilly Automotive, Inc.* |
47 | 39,015 | ||||||
Penske Automotive Group, Inc. |
22 | 3,171 | ||||||
Polaris, Inc. |
31 | 3,526 | ||||||
PulteGroup, Inc. |
202 | 11,043 | ||||||
PVH Corp. |
44 | 3,531 | ||||||
Ralph Lauren Corp. |
29 | 3,428 | ||||||
Ross Stores, Inc. |
266 | 29,404 | ||||||
Skechers U.S.A., Inc., Class A* |
74 | 3,294 | ||||||
Starbucks Corp. |
511 | 52,168 | ||||||
Tapestry, Inc. |
217 | 9,442 | ||||||
Target Corp. |
587 | 98,910 | ||||||
Tempur Sealy International, Inc. |
150 | 6,411 | ||||||
Thor Industries, Inc. (a) |
53 | 4,822 | ||||||
TJX Cos., Inc. |
772 | 59,135 | ||||||
Toll Brothers, Inc. |
59 | 3,536 | ||||||
Tractor Supply Co. |
91 | 21,227 | ||||||
Ulta Beauty, Inc.* |
34 | 17,639 | ||||||
VF Corp. |
100 | 2,482 | ||||||
Victoria’s Secret & Co.* |
108 | 4,281 | ||||||
Whirlpool Corp. |
45 | 6,209 | ||||||
Williams-Sonoma, Inc. (a) |
103 | 12,867 | ||||||
Yum! Brands, Inc. |
97 | 12,335 | ||||||
|
|
|||||||
(Cost $1,209,630) |
1,215,353 | |||||||
|
|
|||||||
Consumer Staples — 8.1% | ||||||||
Altria Group, Inc. |
637 | 29,576 | ||||||
Archer-Daniels-Midland Co. |
465 | 37,014 | ||||||
BJ’s Wholesale Club Holdings, Inc.* |
128 | 9,190 | ||||||
Clorox Co. |
55 | 8,549 | ||||||
Colgate-Palmolive Co. |
326 | 23,896 | ||||||
Costco Wholesale Corp. |
386 | 186,893 | ||||||
Darling Ingredients, Inc.* |
55 | 3,480 | ||||||
Estee Lauder Cos., Inc., Class A |
19 | 4,618 | ||||||
General Mills, Inc. |
57 | 4,532 | ||||||
Hershey Co. |
18 | 4,290 | ||||||
Hormel Foods Corp. |
56 | 2,485 | ||||||
Kimberly-Clark Corp. |
52 | 6,503 | ||||||
Kroger Co. |
452 | 19,499 | ||||||
Monster Beverage Corp.* |
143 | 14,552 | ||||||
PepsiCo, Inc. |
18 | 3,124 | ||||||
Performance Food Group Co.* |
52 | 2,943 | ||||||
Philip Morris International, Inc. |
767 | 74,629 | ||||||
Procter & Gamble Co. |
867 | 119,265 | ||||||
Sysco Corp. |
57 | 4,251 | ||||||
Tyson Foods, Inc., Class A |
152 | 9,004 | ||||||
US Foods Holding Corp.* |
99 | 3,715 | ||||||
Walgreens Boots Alliance, Inc. |
442 | 15,704 | ||||||
Walmart, Inc. |
1,248 | 177,378 | ||||||
|
|
|||||||
(Cost $750,148) |
765,090 | |||||||
|
|
See Notes to Financial Statements. | 35 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
Energy — 10.3% | ||||||||
Antero Resources Corp.* |
104 | $ | 2,725 | |||||
APA Corp. |
202 | 7,753 | ||||||
Chesapeake Energy Corp. |
62 | 5,010 | ||||||
Chevron Corp. |
1,246 | 200,319 | ||||||
ConocoPhillips |
791 | 81,750 | ||||||
Coterra Energy, Inc. |
100 | 2,497 | ||||||
Devon Energy Corp. |
227 | 12,240 | ||||||
Diamondback Energy, Inc. |
77 | 10,825 | ||||||
EOG Resources, Inc. |
491 | 55,493 | ||||||
Exxon Mobil Corp. |
3,445 | 378,640 | ||||||
HF Sinclair Corp. |
49 | 2,436 | ||||||
Marathon Oil Corp. |
402 | 10,110 | ||||||
Marathon Petroleum Corp. |
542 | 66,991 | ||||||
Occidental Petroleum Corp. |
171 | 10,014 | ||||||
ONEOK, Inc. |
132 | 8,639 | ||||||
Ovintiv, Inc. |
212 | 9,067 | ||||||
PDC Energy, Inc. |
77 | 5,168 | ||||||
Phillips 66 |
410 | 42,050 | ||||||
Pioneer Natural Resources Co. |
26 | 5,211 | ||||||
Targa Resources Corp. |
122 | 9,040 | ||||||
Texas Pacific Land Corp. (a) |
2 | 3,560 | ||||||
Valero Energy Corp. |
336 | 44,261 | ||||||
|
|
|||||||
(Cost $791,265) |
973,799 | |||||||
|
|
|||||||
Financials — 9.2% | ||||||||
Affiliated Managers Group, Inc. |
17 | 2,710 | ||||||
Aflac, Inc. |
50 | 3,408 | ||||||
Allstate Corp. |
124 | 15,969 | ||||||
Aon PLC, Class A |
20 | 6,081 | ||||||
Apollo Global Management, Inc. |
133 | 9,430 | ||||||
Arch Capital Group Ltd.* |
133 | 9,310 | ||||||
Berkshire Hathaway, Inc., Class B* |
1,423 | 434,271 | ||||||
Blackstone, Inc. |
358 | 32,506 | ||||||
Capital One Financial Corp. |
38 | 4,145 | ||||||
Carlyle Group, Inc. |
240 | 8,256 | ||||||
Cboe Global Markets, Inc. |
48 | 6,056 | ||||||
Cincinnati Financial Corp. |
146 | 17,622 | ||||||
Coinbase Global, Inc., Class A* (a) |
194 | 12,577 | ||||||
Credit Acceptance Corp.* |
8 | 3,555 | ||||||
Discover Financial Services |
68 | 7,616 | ||||||
Erie Indemnity Co., Class A (a) |
18 | 4,237 | ||||||
Evercore, Inc., Class A |
72 | 9,445 | ||||||
F&G Annuities & Life, Inc. |
9 | 183 | ||||||
FactSet Research Systems, Inc. |
19 | 7,876 | ||||||
Fidelity National Financial, Inc. |
143 | 5,700 | ||||||
First American Financial Corp. |
103 | 5,848 | ||||||
Franklin Resources, Inc. (a) |
197 | 5,806 | ||||||
Janus Henderson Group PLC |
91 | 2,499 | ||||||
Lazard Ltd., Class A |
119 | 4,446 | ||||||
LPL Financial Holdings, Inc. |
27 | 6,738 | ||||||
Markel Corp.* |
4 | 5,319 | ||||||
MarketAxess Holdings, Inc. |
15 | 5,122 | ||||||
Marsh & McLennan Cos., Inc. |
199 | 32,266 | ||||||
MGIC Investment Corp. |
344 | 4,733 | ||||||
Moody’s Corp. |
87 | 25,243 | ||||||
MSCI, Inc. |
32 | 16,709 | ||||||
Old Republic International Corp. |
161 | 4,246 | ||||||
Progressive Corp. |
227 | 32,579 |
Number |
Value |
|||||||
Financials (Continued) | ||||||||
S&P Global, Inc. |
147 | $ | 50,156 | |||||
SEI Investments Co. |
101 | 6,085 | ||||||
Synchrony Financial |
204 | 7,285 | ||||||
T. Rowe Price Group, Inc. (a) |
254 | 28,519 | ||||||
Travelers Cos., Inc. |
14 | 2,592 | ||||||
Willis Towers Watson PLC |
93 | 21,796 | ||||||
|
|
|||||||
(Cost $775,363) |
868,940 | |||||||
|
|
|||||||
Health Care — 14.4% | ||||||||
Abbott Laboratories |
454 | 46,181 | ||||||
AbbVie, Inc. |
132 | 20,315 | ||||||
Align Technology, Inc.* |
35 | 10,833 | ||||||
AmerisourceBergen Corp. |
22 | 3,422 | ||||||
Amgen, Inc. |
96 | 22,239 | ||||||
Biogen, Inc.* |
97 | 26,176 | ||||||
Bio-Rad Laboratories, Inc., Class A* |
23 | 10,990 | ||||||
Bristol-Myers Squibb Co. |
506 | 34,894 | ||||||
Cardinal Health, Inc. |
64 | 4,845 | ||||||
Chemed Corp. |
10 | 5,216 | ||||||
Cigna Group |
120 | 35,052 | ||||||
Cooper Cos., Inc. |
13 | 4,251 | ||||||
CVS Health Corp. |
701 | 58,562 | ||||||
DaVita, Inc.* |
30 | 2,468 | ||||||
Edwards Lifesciences Corp.* |
205 | 16,490 | ||||||
Elevance Health, Inc. |
72 | 33,816 | ||||||
Eli Lilly & Co. |
48 | 14,939 | ||||||
Exelixis, Inc.* |
175 | 2,989 | ||||||
Gilead Sciences, Inc. |
382 | 30,762 | ||||||
HCA Healthcare, Inc. |
136 | 33,109 | ||||||
Henry Schein, Inc.* |
125 | 9,789 | ||||||
Hologic, Inc.* |
191 | 15,211 | ||||||
Humana, Inc. |
56 | 27,721 | ||||||
IDEXX Laboratories, Inc.* |
26 | 12,304 | ||||||
Incyte Corp.* |
72 | 5,543 | ||||||
Intuitive Surgical, Inc.* |
14 | 3,211 | ||||||
Johnson & Johnson |
1,131 | 173,337 | ||||||
Laboratory Corp. of America Holdings |
65 | 15,558 | ||||||
Masimo Corp.* |
18 | 3,012 | ||||||
McKesson Corp. |
196 | 68,563 | ||||||
Merck & Co., Inc. |
157 | 16,680 | ||||||
Mettler-Toledo International, Inc.* |
9 | 12,903 | ||||||
Moderna, Inc.* |
410 | 56,912 | ||||||
Molina Healthcare, Inc.* |
62 | 17,070 | ||||||
Organon & Co. |
228 | 5,584 | ||||||
Pfizer, Inc. |
3,728 | 151,245 | ||||||
Premier, Inc., Class A |
77 | 2,479 | ||||||
Quest Diagnostics, Inc. |
102 | 14,113 | ||||||
QuidelOrtho Corp.* |
46 | 3,999 | ||||||
Regeneron Pharmaceuticals, Inc.* |
96 | 73,000 | ||||||
Thermo Fisher Scientific, Inc. |
30 | 16,253 | ||||||
United Therapeutics Corp.* |
16 | 3,937 | ||||||
UnitedHealth Group, Inc. |
374 | 178,002 | ||||||
Universal Health Services, Inc., Class B |
34 | 4,541 | ||||||
Vertex Pharmaceuticals, Inc.* |
119 | 34,545 | ||||||
Waters Corp.* |
24 | 7,461 | ||||||
West Pharmaceutical Services, Inc. |
29 | 9,194 | ||||||
|
|
|||||||
(Cost $1,287,314) |
1,359,716 | |||||||
|
|
See Notes to Financial Statements. | 36 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
Industrials — 6.1% | ||||||||
3M Co. |
242 | $ | 26,073 | |||||
A O Smith Corp. |
114 | 7,482 | ||||||
Acuity Brands, Inc. |
27 | 5,237 | ||||||
AECOM |
36 | 3,109 | ||||||
AGCO Corp. |
41 | 5,773 | ||||||
Alaska Air Group, Inc.* |
77 | 3,683 | ||||||
Allegion PLC |
22 | 2,480 | ||||||
C.H. Robinson Worldwide, Inc. |
52 | 5,198 | ||||||
Carrier Global Corp. |
235 | 10,582 | ||||||
Caterpillar, Inc. |
27 | 6,468 | ||||||
Cintas Corp. |
6 | 2,631 | ||||||
Copart, Inc.* |
180 | 12,683 | ||||||
Cummins, Inc. |
107 | 26,010 | ||||||
Delta Air Lines, Inc.* |
132 | 5,061 | ||||||
Donaldson Co., Inc. |
64 | 4,048 | ||||||
Eaton Corp. PLC |
27 | 4,723 | ||||||
Emerson Electric Co. |
92 | 7,609 | ||||||
Expeditors International of Washington, Inc. |
167 | 17,462 | ||||||
Fastenal Co. |
264 | 13,612 | ||||||
FedEx Corp. |
127 | 25,809 | ||||||
Fortune Brands Innovations, Inc. |
50 | 3,097 | ||||||
FTI Consulting, Inc.* (a) |
24 | 4,409 | ||||||
General Dynamics Corp. |
14 | 3,191 | ||||||
Graco, Inc. |
87 | 6,050 | ||||||
GXO Logistics, Inc.* |
49 | 2,429 | ||||||
Huntington Ingalls Industries, Inc. |
12 | 2,582 | ||||||
Illinois Tool Works, Inc. |
21 | 4,896 | ||||||
JB Hunt Transport Services, Inc. |
70 | 12,655 | ||||||
JetBlue Airways Corp.* |
225 | 1,867 | ||||||
Johnson Controls International PLC |
61 | 3,826 | ||||||
Knight-Swift Transportation Holdings, Inc. |
114 | 6,480 | ||||||
L3Harris Technologies, Inc. |
15 | 3,168 | ||||||
Landstar System, Inc. |
40 | 7,232 | ||||||
Lennox International, Inc. |
21 | 5,351 | ||||||
Lincoln Electric Holdings, Inc. |
22 | 3,694 | ||||||
Lockheed Martin Corp. |
173 | 82,047 | ||||||
ManpowerGroup, Inc. |
44 | 3,735 | ||||||
Masco Corp. |
128 | 6,711 | ||||||
Masterbrand, Inc.* |
50 | 487 | ||||||
Nordson Corp. |
13 | 2,855 | ||||||
Northrop Grumman Corp. |
13 | 6,033 | ||||||
Old Dominion Freight Line, Inc. |
53 | 17,981 | ||||||
Otis Worldwide Corp. |
83 | 7,023 | ||||||
Owens Corning |
73 | 7,139 | ||||||
PACCAR, Inc. |
36 | 2,599 | ||||||
Parker-Hannifin Corp. |
8 | 2,815 | ||||||
Pentair PLC |
86 | 4,811 | ||||||
Quanta Services, Inc. |
21 | 3,389 | ||||||
Robert Half International, Inc. |
98 | 7,901 | ||||||
Rockwell Automation, Inc. |
10 | 2,949 | ||||||
RXO, Inc.* (a) |
74 | 1,522 | ||||||
Snap-on, Inc. |
37 | 9,201 | ||||||
Southwest Airlines Co. |
129 | 4,332 | ||||||
Tetra Tech, Inc. |
18 | 2,464 | ||||||
Textron, Inc. |
62 | 4,497 | ||||||
Toro Co. |
61 | 6,737 |
Number |
Value |
|||||||
Industrials (Continued) | ||||||||
Trex Co., Inc.* |
48 | $ | 2,454 | |||||
United Parcel Service, Inc., Class B |
462 | 84,310 | ||||||
W.W. Grainger, Inc. |
20 | 13,369 | ||||||
Waste Management, Inc. |
97 | 14,527 | ||||||
Watsco, Inc. |
22 | 6,704 | ||||||
WESCO International, Inc.* |
17 | 2,815 | ||||||
XPO, Inc.* |
74 | 2,469 | ||||||
|
|
|||||||
(Cost $546,211) |
580,536 | |||||||
|
|
|||||||
Information Technology — 23.8% | ||||||||
Accenture PLC, Class A |
312 | 82,852 | ||||||
Adobe, Inc.* |
181 | 58,635 | ||||||
Advanced Micro Devices, Inc.* |
546 | 42,905 | ||||||
Akamai Technologies, Inc.* |
52 | 3,775 | ||||||
Amdocs Ltd. |
92 | 8,428 | ||||||
Apple, Inc. |
3,304 | 487,043 | ||||||
Applied Materials, Inc. |
524 | 60,863 | ||||||
Arista Networks, Inc.* |
94 | 13,038 | ||||||
Autodesk, Inc.* |
14 | 2,782 | ||||||
Automatic Data Processing, Inc. |
192 | 42,205 | ||||||
Broadridge Financial Solutions, Inc. |
49 | 6,898 | ||||||
Cadence Design Systems, Inc.* |
94 | 18,136 | ||||||
Ciena Corp.* |
92 | 4,436 | ||||||
Cirrus Logic, Inc.* |
39 | 4,007 | ||||||
Cisco Systems, Inc. |
3,132 | 151,651 | ||||||
Cognex Corp. |
62 | 2,940 | ||||||
Cognizant Technology Solutions Corp., Class A |
388 | 24,300 | ||||||
Concentrix Corp. |
18 | 2,463 | ||||||
Corning, Inc. |
168 | 5,704 | ||||||
Dell Technologies, Inc., Class C |
207 | 8,412 | ||||||
Dolby Laboratories, Inc., Class A |
32 | 2,633 | ||||||
Dropbox, Inc., Class A* |
106 | 2,162 | ||||||
EPAM Systems, Inc.* |
18 | 5,538 | ||||||
F5, Inc.* |
27 | 3,860 | ||||||
Fair Isaac Corp.* |
8 | 5,419 | ||||||
First Solar, Inc.* |
36 | 6,089 | ||||||
Fortinet, Inc.* |
87 | 5,171 | ||||||
Gartner, Inc.* |
23 | 7,540 | ||||||
Genpact Ltd. |
50 | 2,387 | ||||||
HP, Inc. |
1,559 | 46,022 | ||||||
Intel Corp. |
3,493 | 87,081 | ||||||
International Business Machines Corp. |
56 | 7,241 | ||||||
Intuit, Inc. |
28 | 11,401 | ||||||
Jack Henry & Associates, Inc. |
32 | 5,256 | ||||||
Keysight Technologies, Inc.* |
66 | 10,557 | ||||||
KLA Corp. |
51 | 19,348 | ||||||
Lam Research Corp. |
74 | 35,965 | ||||||
Lumentum Holdings, Inc.* |
37 | 1,991 | ||||||
Mastercard, Inc., Class A |
299 | 106,232 | ||||||
Micron Technology, Inc. |
1,036 | 59,902 | ||||||
Microsoft Corp. |
1,808 | 450,951 | ||||||
MKS Instruments, Inc. |
36 | 3,489 | ||||||
NetApp, Inc. |
55 | 3,550 | ||||||
NVIDIA Corp. |
126 | 29,252 | ||||||
ON Semiconductor Corp.* |
93 | 7,199 | ||||||
Oracle Corp. |
261 | 22,811 |
See Notes to Financial Statements. | 37 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
Information Technology (Continued) | ||||||||
Paychex, Inc. |
133 | $ | 14,683 | |||||
PayPal Holdings, Inc.* |
322 | 23,699 | ||||||
Qorvo, Inc.* |
49 | 4,944 | ||||||
QUALCOMM, Inc. |
492 | 60,777 | ||||||
Salesforce, Inc.* |
52 | 8,508 | ||||||
Skyworks Solutions, Inc. |
108 | 12,050 | ||||||
Synopsys, Inc.* |
15 | 5,456 | ||||||
Teradyne, Inc. |
113 | 11,429 | ||||||
Texas Instruments, Inc. |
536 | 91,897 | ||||||
VeriSign, Inc.* |
13 | 2,559 | ||||||
Visa, Inc., Class A (a) |
126 | 27,712 | ||||||
Western Union Co. |
221 | 2,864 | ||||||
Zebra Technologies Corp., Class A* |
26 | 7,807 | ||||||
|
|
|||||||
(Cost $2,354,548) |
2,254,905 | |||||||
|
|
|||||||
Materials — 3.7% | ||||||||
Air Products and Chemicals, Inc. |
26 | 7,435 | ||||||
Alcoa Corp. |
55 | 2,692 | ||||||
Amcor PLC |
231 | 2,573 | ||||||
Celanese Corp. |
71 | 8,252 | ||||||
CF Industries Holdings, Inc. |
149 | 12,798 | ||||||
Cleveland-Cliffs, Inc.* (a) |
482 | 10,281 | ||||||
Corteva, Inc. |
432 | 26,909 | ||||||
Dow, Inc. |
476 | 27,227 | ||||||
DuPont de Nemours, Inc. |
303 | 22,128 | ||||||
Eagle Materials, Inc. |
27 | 3,789 | ||||||
Eastman Chemical Co. |
33 | 2,812 | ||||||
Freeport-McMoRan, Inc. |
905 | 37,078 | ||||||
Huntsman Corp. |
112 | 3,286 | ||||||
International Paper Co. |
167 | 6,077 | ||||||
Louisiana-Pacific Corp. |
126 | 7,372 | ||||||
LyondellBasell Industries NV, Class A |
280 | 26,877 | ||||||
Mosaic Co. |
141 | 7,500 | ||||||
Newmont Corp. |
112 | 4,884 | ||||||
Nucor Corp. |
365 | 61,116 | ||||||
Olin Corp. |
123 | 7,103 | ||||||
Packaging Corp. of America |
41 | 5,606 | ||||||
Reliance Steel & Aluminum Co. |
62 | 15,366 | ||||||
Sherwin-Williams Co. |
18 | 3,984 | ||||||
Southern Copper Corp. (a) |
42 | 3,095 | ||||||
Steel Dynamics, Inc. |
226 | 28,501 | ||||||
United States Steel Corp. |
295 | 9,036 | ||||||
|
|
|||||||
(Cost $283,472) |
353,777 | |||||||
|
|
|||||||
Real Estate — 0.9% | ||||||||
CBRE Group, Inc., Class A* |
298 | 25,372 | ||||||
Jones Lang LaSalle, Inc.* |
27 | 4,710 | ||||||
Public Storage REIT |
78 | 23,318 | ||||||
Simon Property Group, Inc. REIT |
106 | 12,942 | ||||||
Weyerhaeuser Co. REIT |
631 | 19,719 | ||||||
|
|
|||||||
(Cost $86,304) |
86,061 | |||||||
|
|
|||||||
Utilities — 0.4% | ||||||||
Constellation Energy Corp. |
37 | 2,771 | ||||||
DTE Energy Co. |
76 | 8,338 | ||||||
Exelon Corp. |
109 | 4,402 | ||||||
NRG Energy, Inc. |
211 | 6,919 | ||||||
Public Service Enterprise Group, Inc. |
55 | 3,324 |
Number |
Value |
|||||||
Utilities (Continued) | ||||||||
Sempra Energy |
21 | $ | 3,149 | |||||
UGI Corp. |
72 | 2,680 | ||||||
Vistra Corp. |
112 | 2,463 | ||||||
|
|
|||||||
(Cost $33,932) |
34,046 | |||||||
|
|
|||||||
TOTAL
COMMON STOCKS |
9,419,101 | |||||||
|
|
|||||||
EXCHANGE-TRADED FUNDS — 0.2% | ||||||||
iShares
Russell 1000 ETF |
85 | 18,628 | ||||||
|
|
|||||||
SECURITIES LENDING COLLATERAL — 0.1% | ||||||||
DWS
Government & Agency Securities Portfolio “DWS Government Cash
Institutional Shares”, 4.39% (b)(c) |
11,086 | 11,086 | ||||||
|
|
|||||||
CASH EQUIVALENTS — 0.0% | ||||||||
DWS
Government Money Market Series “Institutional Shares”, 4.51% (b) |
2,487 | 2,487 | ||||||
|
|
|||||||
TOTAL
INVESTMENTS — 99.9% |
$ | 9,451,302 | ||||||
Other assets and liabilities, net — 0.1% |
6,073 | |||||||
|
|
|||||||
NET ASSETS — 100.0% |
$ | 9,457,375 | ||||||
|
|
See Notes to Financial Statements. | 38 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (Continued)
February 28, 2023 (Unaudited)
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2023 is as follows:
Value ($) at 8/31/2022 |
Purchases Cost ($) |
Sales Proceeds ($) |
Net Realized Gain/(Loss) ($) |
Net Change in Unrealized Appreciation (Depreciation) ($) |
Income ($) | Capital Gain Distributions ($) |
Number of Shares at 2/28/2023 |
Value ($) at 2/28/2023 |
||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 0.1% |
|
|||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 4.39% (b)(c) |
| |||||||||||||||||||||||||||||||||||
4,995 | 6,091 | (d) | — | — | — | 174 | — | 11,086 | 11,086 | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.0% |
|
|||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 4.51% (b) |
| |||||||||||||||||||||||||||||||||||
4,206 | 141,304 | (143,023 | ) | — | — | 93 | — | 2,487 | 2,487 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
9,201 | 147,395 | (143,023 | ) | — | — | 267 | — | 13,573 | 13,573 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
Non-income producing security. |
(a) |
All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2023 amounted to $121,371, which is 1.3% of net assets. |
(b) |
Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
(c) |
Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund held non-cash U.S. Treasury securities collateral having a value of $111,859. |
(d) |
Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2023. |
REIT: | Real Estate Investment Trust |
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2023 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
Assets |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stocks (a) |
$ | 9,419,101 | $ | — | $ | — | $ | 9,419,101 | ||||||||
Exchange-Traded Funds |
18,628 | — | — | 18,628 | ||||||||||||
Short-Term Investments (a) |
13,573 | — | — | 13,573 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
TOTAL |
$ | 9,451,302 | $ | — | $ | — | $ | 9,451,302 | ||||||||
|
|
|
|
|
|
|
|
(a) |
See Schedule of Investments for additional detailed categorizations. |
See Notes to Financial Statements. | 39 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell US Multifactor ETF
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
COMMON STOCKS — 99.4% | ||||||||
Communication Services — 2.8% | ||||||||
Activision Blizzard, Inc. |
4,727 | $ | 360,434 | |||||
Alphabet, Inc., Class A* |
475 | 42,779 | ||||||
Alphabet, Inc., Class C* |
418 | 37,745 | ||||||
AT&T, Inc. |
20,597 | 389,489 | ||||||
Cable One, Inc. |
24 | 16,575 | ||||||
Charter Communications, Inc., Class A* (a) |
236 | 86,756 | ||||||
Comcast Corp., Class A |
3,525 | 131,024 | ||||||
DISH Network Corp., Class A* (a) |
485 | 5,534 | ||||||
Electronic Arts, Inc. |
2,414 | 267,809 | ||||||
Fox Corp., Class A |
3,673 | 128,628 | ||||||
Fox Corp., Class B |
2,141 | 69,047 | ||||||
Frontier Communications Parent, Inc.* |
4,158 | 113,763 | ||||||
Interpublic Group of Cos., Inc. |
13,837 | 491,767 | ||||||
Liberty Broadband Corp., Class C* |
286 | 24,788 | ||||||
Liberty Media Corp.-Liberty Formula One, Class C* |
799 | 54,228 | ||||||
Liberty Media Corp-Liberty SiriusXM, Class A* |
962 | 31,159 | ||||||
Liberty Media Corp-Liberty SiriusXM, Class C* |
1,857 | 59,833 | ||||||
Live Nation Entertainment, Inc.* |
242 | 17,439 | ||||||
Lumen Technologies, Inc. |
4,494 | 15,280 | ||||||
Madison Square Garden Sports Corp. |
550 | 105,127 | ||||||
Meta Platforms, Inc., Class A* |
84 | 14,695 | ||||||
New York Times Co., Class A |
3,229 | 124,317 | ||||||
News Corp., Class A |
8,384 | 143,786 | ||||||
News Corp., Class B |
2,694 | 46,498 | ||||||
Nexstar Media Group, Inc. |
966 | 179,579 | ||||||
Omnicom Group, Inc. |
6,439 | 583,180 | ||||||
Paramount Global, Class B |
1,656 | 35,472 | ||||||
Sirius XM Holdings, Inc. (a) |
11,283 | 49,532 | ||||||
Take-Two Interactive Software, Inc.* |
415 | 45,463 | ||||||
T-Mobile US, Inc.* |
338 | 48,057 | ||||||
Verizon Communications, Inc. |
3,435 | 133,312 | ||||||
Walt Disney Co.* |
163 | 16,236 | ||||||
World Wrestling Entertainment, Inc., Class A |
664 | 55,776 | ||||||
|
|
|||||||
(Cost $3,970,990) |
3,925,107 | |||||||
|
|
|||||||
Consumer Discretionary — 10.0% | ||||||||
Advance Auto Parts, Inc. |
1,419 | 205,698 | ||||||
Airbnb, Inc., Class A* |
77 | 9,493 | ||||||
Aptiv PLC* |
176 | 20,465 | ||||||
Aramark |
3,077 | 113,234 | ||||||
AutoNation, Inc.* |
2,067 | 282,166 | ||||||
AutoZone, Inc.* |
241 | 599,256 | ||||||
Best Buy Co., Inc. |
4,922 | 409,067 | ||||||
Booking Holdings, Inc.* |
36 | 90,864 | ||||||
BorgWarner, Inc. |
9,009 | 452,972 | ||||||
Boyd Gaming Corp. |
144 | 9,379 | ||||||
Bright Horizons Family Solutions, Inc.* |
98 | 7,726 | ||||||
Brunswick Corp. |
1,076 | 94,064 | ||||||
Burlington Stores, Inc.* |
147 | 31,495 | ||||||
CarMax, Inc.* (a) |
354 | 24,440 | ||||||
Carter’s, Inc. |
1,200 | 90,468 |
Number |
Value |
|||||||
Consumer Discretionary (Continued) | ||||||||
Chipotle Mexican Grill, Inc.* |
83 | $ | 123,760 | |||||
Choice Hotels International, Inc. (a) |
623 | 73,738 | ||||||
Churchill Downs, Inc. |
228 | 56,038 | ||||||
Columbia Sportswear Co. |
1,772 | 154,518 | ||||||
D.R. Horton, Inc. |
1,433 | 132,524 | ||||||
Darden Restaurants, Inc. |
1,031 | 147,423 | ||||||
Deckers Outdoor Corp.* |
313 | 130,318 | ||||||
Dick’s Sporting Goods, Inc. |
1,766 | 227,161 | ||||||
Dollar General Corp. |
2,206 | 477,158 | ||||||
Dollar Tree, Inc.* |
2,040 | 296,371 | ||||||
Domino’s Pizza, Inc. |
418 | 122,896 | ||||||
eBay, Inc. |
4,020 | 184,518 | ||||||
Expedia Group, Inc.* |
510 | 55,575 | ||||||
Five Below, Inc.* |
418 | 85,397 | ||||||
Floor & Decor Holdings, Inc., Class A* |
365 | 33,511 | ||||||
Ford Motor Co. |
9,239 | 111,515 | ||||||
Gap, Inc. (a) |
2,016 | 26,228 | ||||||
Garmin Ltd. |
1,809 | 177,517 | ||||||
General Motors Co. |
2,183 | 84,569 | ||||||
Gentex Corp. |
7,604 | 217,094 | ||||||
Genuine Parts Co. |
3,468 | 613,350 | ||||||
Grand Canyon Education, Inc.* |
2,430 | 275,295 | ||||||
H&R Block, Inc. |
12,008 | 441,894 | ||||||
Harley-Davidson, Inc. |
2,575 | 122,441 | ||||||
Hasbro, Inc. |
876 | 48,189 | ||||||
Hilton Worldwide Holdings, Inc. |
209 | 30,203 | ||||||
Home Depot, Inc. |
205 | 60,791 | ||||||
Hyatt Hotels Corp., Class A* |
111 | 12,903 | ||||||
Kohl’s Corp. |
932 | 26,133 | ||||||
Las Vegas Sands Corp.* |
305 | 17,528 | ||||||
Lear Corp. |
1,166 | 162,832 | ||||||
Leggett & Platt, Inc. |
3,135 | 108,126 | ||||||
Lennar Corp., Class A |
2,082 | 201,413 | ||||||
Lithia Motors, Inc. |
561 | 143,156 | ||||||
LKQ Corp. |
6,433 | 368,547 | ||||||
Lowe’s Cos., Inc. |
1,094 | 225,090 | ||||||
Lululemon Athletica, Inc.* |
310 | 95,852 | ||||||
Macy’s, Inc. |
1,378 | 28,194 | ||||||
Marriott International, Inc., Class A |
355 | 60,080 | ||||||
Marriott Vacations Worldwide Corp. |
56 | 8,567 | ||||||
Mattel, Inc.* |
4,619 | 83,096 | ||||||
McDonald’s Corp. |
390 | 102,925 | ||||||
MGM Resorts International |
245 | 10,537 | ||||||
Mohawk Industries, Inc.* |
595 | 61,196 | ||||||
Newell Brands, Inc. (a) |
3,849 | 56,542 | ||||||
NIKE, Inc., Class B |
431 | 51,198 | ||||||
Nordstrom, Inc. |
1,030 | 20,064 | ||||||
NVR, Inc.* |
60 | 310,417 | ||||||
Ollie’s Bargain Outlet Holdings, Inc.* |
1,239 | 71,292 | ||||||
O’Reilly Automotive, Inc.* |
709 | 588,541 | ||||||
Penske Automotive Group, Inc. |
1,643 | 236,838 | ||||||
Polaris, Inc. |
1,587 | 180,521 | ||||||
Pool Corp. |
86 | 30,690 | ||||||
PulteGroup, Inc. |
4,571 | 249,897 | ||||||
PVH Corp. |
267 | 21,424 | ||||||
Ralph Lauren Corp. (a) |
1,620 | 191,468 | ||||||
Ross Stores, Inc. |
2,747 | 303,653 |
See Notes to Financial Statements. | 40 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
Consumer Discretionary (Continued) | ||||||||
Service Corp. International |
3,873 | $ | 261,544 | |||||
Skechers U.S.A., Inc., Class A* |
3,954 | 175,993 | ||||||
Starbucks Corp. |
1,601 | 163,446 | ||||||
Tapestry, Inc. |
3,565 | 155,113 | ||||||
Target Corp. |
2,048 | 345,088 | ||||||
Thor Industries, Inc. (a) |
1,330 | 121,017 | ||||||
TJX Cos., Inc. |
4,590 | 351,594 | ||||||
Toll Brothers, Inc. |
1,046 | 62,697 | ||||||
TopBuild Corp.* |
50 | 10,379 | ||||||
Tractor Supply Co. |
2,149 | 501,276 | ||||||
Travel + Leisure Co. |
643 | 26,974 | ||||||
Ulta Beauty, Inc.* |
502 | 260,438 | ||||||
Vail Resorts, Inc. |
324 | 75,651 | ||||||
VF Corp. |
1,530 | 37,975 | ||||||
Victoria’s Secret & Co.* |
587 | 23,269 | ||||||
Wendy’s Co. |
782 | 17,173 | ||||||
Whirlpool Corp. |
1,209 | 166,818 | ||||||
Williams-Sonoma, Inc. (a) |
1,157 | 144,532 | ||||||
Wyndham Hotels & Resorts, Inc. |
393 | 30,269 | ||||||
Yum! Brands, Inc. |
2,918 | 371,053 | ||||||
|
|
|||||||
(Cost $12,734,284) |
14,281,798 | |||||||
|
|
|||||||
Consumer Staples — 7.6% | ||||||||
Albertsons Cos., Inc., Class A |
4,418 | 87,830 | ||||||
Altria Group, Inc. |
6,582 | 305,602 | ||||||
Archer-Daniels-Midland Co. |
15,096 | 1,201,642 | ||||||
BJ’s Wholesale Club Holdings, Inc.* |
6,476 | 464,977 | ||||||
Boston Beer Co., Inc., Class A* |
71 | 22,990 | ||||||
Brown-Forman Corp., Class A |
355 | 23,047 | ||||||
Brown-Forman Corp., Class B |
1,129 | 73,238 | ||||||
Bunge Ltd. |
3,508 | 335,014 | ||||||
Campbell Soup Co. |
4,403 | 231,246 | ||||||
Casey’s General Stores, Inc. |
2,863 | 595,361 | ||||||
Church & Dwight Co., Inc. |
2,090 | 175,100 | ||||||
Clorox Co. |
1,027 | 159,637 | ||||||
Coca-Cola Co. |
983 | 58,498 | ||||||
Colgate-Palmolive Co. |
4,198 | 307,713 | ||||||
Conagra Brands, Inc. |
6,708 | 244,238 | ||||||
Constellation Brands, Inc., Class A |
488 | 109,166 | ||||||
Costco Wholesale Corp. |
338 | 163,653 | ||||||
Darling Ingredients, Inc.* |
3,276 | 207,273 | ||||||
Estee Lauder Cos., Inc., Class A |
566 | 137,566 | ||||||
Flowers Foods, Inc. |
6,610 | 184,287 | ||||||
General Mills, Inc. |
5,031 | 400,015 | ||||||
Grocery Outlet Holding Corp.* |
2,075 | 56,129 | ||||||
Hershey Co. |
1,406 | 335,078 | ||||||
Hormel Foods Corp. |
3,996 | 177,342 | ||||||
Ingredion, Inc. |
1,774 | 176,336 | ||||||
J M Smucker Co. |
1,928 | 285,132 | ||||||
Kellogg Co. |
4,345 | 286,509 | ||||||
Keurig Dr Pepper, Inc. |
3,302 | 114,084 | ||||||
Kimberly-Clark Corp. |
2,404 | 300,620 | ||||||
Kraft Heinz Co. |
4,029 | 156,889 | ||||||
Kroger Co. |
17,189 | 741,533 | ||||||
Lamb Weston Holdings, Inc. |
1,854 | 186,587 | ||||||
McCormick & Co., Inc. |
1,598 | 118,763 | ||||||
Molson Coors Beverage Co., Class B |
5,577 | 296,641 |
Number |
Value |
|||||||
Consumer Staples (Continued) | ||||||||
Mondelez International, Inc., Class A |
2,872 | $ | 187,197 | |||||
Monster Beverage Corp.* |
2,042 | 207,794 | ||||||
PepsiCo, Inc. |
496 | 86,071 | ||||||
Philip Morris International, Inc. |
2,573 | 250,353 | ||||||
Pilgrim’s Pride Corp.* |
1,473 | 34,453 | ||||||
Post Holdings, Inc.* |
2,480 | 223,101 | ||||||
Procter & Gamble Co. |
416 | 57,225 | ||||||
Reynolds Consumer Products, Inc. |
1,142 | 31,336 | ||||||
Seaboard Corp. |
13 | 51,350 | ||||||
Sysco Corp. |
6,327 | 471,804 | ||||||
Tyson Foods, Inc., Class A |
5,004 | 296,437 | ||||||
US Foods Holding Corp.* |
2,325 | 87,257 | ||||||
Walgreens Boots Alliance, Inc. |
4,546 | 161,519 | ||||||
Walmart, Inc. |
450 | 63,959 | ||||||
|
|
|||||||
(Cost $10,504,919) |
10,929,592 | |||||||
|
|
|||||||
Energy — 3.9% | ||||||||
Antero Midstream Corp. |
2,182 | 22,998 | ||||||
Baker Hughes Co. |
4,870 | 149,022 | ||||||
Cheniere Energy, Inc. |
627 | 98,652 | ||||||
Chesapeake Energy Corp. |
5,889 | 475,890 | ||||||
Chevron Corp. |
653 | 104,983 | ||||||
ConocoPhillips |
1,725 | 178,279 | ||||||
Coterra Energy, Inc. |
2,820 | 70,415 | ||||||
Devon Energy Corp. |
1,236 | 66,645 | ||||||
Diamondback Energy, Inc. |
356 | 50,046 | ||||||
DT Midstream, Inc. |
2,798 | 140,460 | ||||||
Enviva, Inc. (a) |
144 | 6,273 | ||||||
EOG Resources, Inc. |
2,089 | 236,099 | ||||||
EQT Corp. |
653 | 21,667 | ||||||
Exxon Mobil Corp. |
1,190 | 130,793 | ||||||
Halliburton Co. |
701 | 25,397 | ||||||
Hess Corp. |
808 | 108,838 | ||||||
HF Sinclair Corp. |
3,792 | 188,538 | ||||||
Kinder Morgan, Inc. |
14,186 | 242,013 | ||||||
Marathon Oil Corp. |
6,765 | 170,140 | ||||||
Marathon Petroleum Corp. |
5,311 | 656,440 | ||||||
NOV, Inc. |
902 | 19,736 | ||||||
Occidental Petroleum Corp. |
783 | 45,852 | ||||||
ONEOK, Inc. |
2,258 | 147,786 | ||||||
Ovintiv, Inc. |
833 | 35,627 | ||||||
PDC Energy, Inc. |
305 | 20,469 | ||||||
Phillips 66 |
8,399 | 861,401 | ||||||
Pioneer Natural Resources Co. |
1,070 | 214,439 | ||||||
Schlumberger NV |
1,447 | 76,995 | ||||||
Targa Resources Corp. |
365 | 27,046 | ||||||
Texas Pacific Land Corp. (a) |
30 | 53,406 | ||||||
Valero Energy Corp. |
5,299 | 698,037 | ||||||
Vitesse Energy, Inc.* |
650 | 11,303 | ||||||
Williams Cos., Inc. |
6,671 | 200,797 | ||||||
|
|
|||||||
(Cost $4,753,030) |
5,556,482 | |||||||
|
|
|||||||
Financials — 13.3% | ||||||||
Affiliated Managers Group, Inc. |
1,432 | 228,275 | ||||||
Aflac, Inc. |
3,924 | 267,421 | ||||||
AGNC Investment Corp. REIT (a) |
4,074 | 44,284 | ||||||
Allstate Corp. |
6,199 | 798,307 | ||||||
Ally Financial, Inc. |
780 | 23,439 |
See Notes to Financial Statements. | 41 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
Financials (Continued) | ||||||||
American Express Co. |
848 | $ | 147,544 | |||||
American Financial Group, Inc. |
958 | 128,477 | ||||||
American International Group, Inc. |
2,710 | 165,608 | ||||||
Ameriprise Financial, Inc. |
514 | 176,235 | ||||||
Annaly Capital Management, Inc. REIT |
5,438 | 112,458 | ||||||
Aon PLC, Class A |
445 | 135,302 | ||||||
Apollo Global Management, Inc. |
3,065 | 217,308 | ||||||
Arch Capital Group Ltd.* |
9,703 | 679,210 | ||||||
Ares Management Corp., Class A |
242 | 19,512 | ||||||
Arthur J Gallagher & Co. |
860 | 161,121 | ||||||
Assurant, Inc. |
1,364 | 173,760 | ||||||
Assured Guaranty Ltd. |
1,447 | 90,307 | ||||||
Axis Capital Holdings Ltd. |
3,126 | 189,811 | ||||||
Bank of America Corp. |
214 | 7,340 | ||||||
Bank of Hawaii Corp. |
490 | 36,681 | ||||||
Bank of New York Mellon Corp. |
1,390 | 70,723 | ||||||
Bank OZK |
1,379 | 63,475 | ||||||
Berkshire Hathaway, Inc., Class B* |
516 | 157,473 | ||||||
BlackRock, Inc. |
87 | 59,980 | ||||||
Blackstone, Inc. |
2,476 | 224,821 | ||||||
Brighthouse Financial, Inc.* |
355 | 20,530 | ||||||
Brown & Brown, Inc. |
2,614 | 146,567 | ||||||
Capital One Financial Corp. |
994 | 108,426 | ||||||
Carlyle Group, Inc. |
2,670 | 91,848 | ||||||
Cboe Global Markets, Inc. |
1,999 | 252,214 | ||||||
Charles Schwab Corp. |
214 | 16,675 | ||||||
Chubb Ltd. |
1,514 | 319,484 | ||||||
Cincinnati Financial Corp. |
6,678 | 806,035 | ||||||
Citigroup, Inc. |
1,693 | 85,818 | ||||||
Citizens Financial Group, Inc. |
1,828 | 76,337 | ||||||
CME Group, Inc. |
235 | 43,560 | ||||||
CNA Financial Corp. |
626 | 27,406 | ||||||
Comerica, Inc. |
627 | 43,953 | ||||||
Commerce Bancshares, Inc. |
1,028 | 68,002 | ||||||
Corebridge Financial, Inc. |
828 | 16,742 | ||||||
Credit Acceptance Corp.* (a) |
178 | 79,093 | ||||||
Cullen/Frost Bankers, Inc. |
430 | 56,683 | ||||||
Discover Financial Services |
1,765 | 197,680 | ||||||
East West Bancorp, Inc. |
950 | 72,399 | ||||||
Equitable Holdings, Inc. |
243 | 7,635 | ||||||
Erie Indemnity Co., Class A (a) |
830 | 195,374 | ||||||
Evercore, Inc., Class A |
2,088 | 273,904 | ||||||
Everest Re Group Ltd. |
1,632 | 626,639 | ||||||
F&G Annuities & Life, Inc. |
448 | 9,126 | ||||||
FactSet Research Systems, Inc. |
571 | 236,708 | ||||||
Fidelity National Financial, Inc. |
5,242 | 208,946 | ||||||
Fifth Third Bancorp |
2,086 | 75,722 | ||||||
First American Financial Corp. |
3,422 | 194,301 | ||||||
First Citizens BancShares, Inc., Class A |
14 | 10,273 | ||||||
First Hawaiian, Inc. |
1,385 | 37,880 | ||||||
First Horizon Corp. |
3,654 | 90,510 | ||||||
First Republic Bank |
150 | 18,451 | ||||||
FNB Corp. |
3,704 | 52,856 | ||||||
Franklin Resources, Inc. (a) |
4,183 | 123,273 | ||||||
Globe Life, Inc. |
1,901 | 231,333 | ||||||
Goldman Sachs Group, Inc. |
213 | 74,901 | ||||||
Hanover Insurance Group, Inc. |
1,463 | 204,059 |
Number |
Value |
|||||||
Financials (Continued) | ||||||||
Hartford Financial Services Group, Inc. |
4,327 | $ | 338,718 | |||||
Huntington Bancshares, Inc. |
5,833 | 89,362 | ||||||
Interactive Brokers Group, Inc., Class A |
876 | 75,432 | ||||||
Intercontinental Exchange, Inc. |
701 | 71,362 | ||||||
Invesco Ltd. |
7,702 | 136,017 | ||||||
Janus Henderson Group PLC |
2,967 | 81,474 | ||||||
Jefferies Financial Group, Inc. |
5,526 | 208,828 | ||||||
JPMorgan Chase & Co. |
206 | 29,530 | ||||||
Kemper Corp. |
466 | 28,706 | ||||||
KeyCorp |
4,094 | 74,879 | ||||||
KKR & Co., Inc. |
347 | 19,553 | ||||||
Lazard Ltd., Class A |
6,077 | 227,037 | ||||||
Lincoln National Corp. |
560 | 17,763 | ||||||
Loews Corp. |
3,536 | 216,014 | ||||||
LPL Financial Holdings, Inc. |
702 | 175,191 | ||||||
M&T Bank Corp. |
754 | 117,089 | ||||||
Markel Corp.* |
429 | 570,510 | ||||||
MarketAxess Holdings, Inc. |
243 | 82,972 | ||||||
Marsh & McLennan Cos., Inc. |
1,729 | 280,340 | ||||||
MetLife, Inc. |
2,330 | 167,131 | ||||||
MGIC Investment Corp. |
11,701 | 161,006 | ||||||
Moody’s Corp. |
491 | 142,464 | ||||||
Morgan Stanley |
564 | 54,426 | ||||||
Morningstar, Inc. |
181 | 37,527 | ||||||
MSCI, Inc. |
330 | 172,310 | ||||||
Nasdaq, Inc. |
2,331 | 130,676 | ||||||
New York Community Bancorp, Inc. |
4,556 | 40,457 | ||||||
Northern Trust Corp. |
683 | 65,069 | ||||||
Old Republic International Corp. |
20,506 | 540,743 | ||||||
OneMain Holdings, Inc. |
735 | 31,671 | ||||||
PacWest Bancorp |
605 | 16,789 | ||||||
Pinnacle Financial Partners, Inc. |
579 | 42,898 | ||||||
PNC Financial Services Group, Inc. |
392 | 61,905 | ||||||
Popular, Inc. |
913 | 65,188 | ||||||
Primerica, Inc. |
516 | 99,041 | ||||||
Principal Financial Group, Inc. |
1,814 | 162,462 | ||||||
Progressive Corp. |
3,251 | 466,584 | ||||||
Prosperity Bancshares, Inc. |
1,006 | 73,931 | ||||||
Prudential Financial, Inc. |
1,750 | 175,000 | ||||||
Raymond James Financial, Inc. |
1,046 | 113,449 | ||||||
Regions Financial Corp. |
5,861 | 136,679 | ||||||
Reinsurance Group of America, Inc. |
1,201 | 173,508 | ||||||
RenaissanceRe Holdings Ltd. |
328 | 70,487 | ||||||
Rithm Capital Corp. REIT |
6,425 | 58,468 | ||||||
Ryan Specialty Holdings, Inc.* (a) |
365 | 15,374 | ||||||
S&P Global, Inc. |
287 | 97,924 | ||||||
SEI Investments Co. |
5,196 | 313,059 | ||||||
SLM Corp. |
4,935 | 70,965 | ||||||
Starwood Property Trust, Inc. REIT (a) |
537 | 10,289 | ||||||
State Street Corp. |
249 | 22,081 | ||||||
Stifel Financial Corp. |
1,798 | 120,160 | ||||||
Synchrony Financial |
4,910 | 175,336 | ||||||
Synovus Financial Corp. |
850 | 35,539 | ||||||
T. Rowe Price Group, Inc. (a) |
2,255 | 253,191 | ||||||
Tradeweb Markets, Inc., Class A |
477 | 33,815 | ||||||
Travelers Cos., Inc. |
2,224 | 411,707 | ||||||
Truist Financial Corp. |
1,962 | 92,116 |
See Notes to Financial Statements. | 42 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
Financials (Continued) | ||||||||
Umpqua Holdings Corp. |
3,233 | $ | 57,095 | |||||
Unum Group |
2,919 | 130,041 | ||||||
US Bancorp |
1,946 | 92,883 | ||||||
Virtu Financial, Inc., Class A |
2,577 | 47,365 | ||||||
Voya Financial, Inc. |
1,824 | 135,870 | ||||||
W.R. Berkley Corp. |
3,790 | 250,860 | ||||||
Webster Financial Corp. |
508 | 26,985 | ||||||
Wells Fargo & Co. |
542 | 25,349 | ||||||
Willis Towers Watson PLC |
3,833 | 898,302 | ||||||
Wintrust Financial Corp. |
568 | 52,330 | ||||||
Zions Bancorp NA |
1,228 | 62,161 | ||||||
|
|
|||||||
(Cost $16,838,744) |
19,111,658 | |||||||
|
|
|||||||
Health Care — 11.1% | ||||||||
Abbott Laboratories |
807 | 82,088 | ||||||
AbbVie, Inc. |
588 | 90,493 | ||||||
Acadia Healthcare Co., Inc.* |
736 | 53,367 | ||||||
Agilent Technologies, Inc. |
1,344 | 190,808 | ||||||
AmerisourceBergen Corp. |
7,591 | 1,180,856 | ||||||
Amgen, Inc. |
741 | 171,660 | ||||||
Baxter International, Inc. |
778 | 31,081 | ||||||
Becton Dickinson and Co. |
322 | 75,525 | ||||||
Biogen, Inc.* |
448 | 120,897 | ||||||
BioMarin Pharmaceutical, Inc.* |
504 | 50,193 | ||||||
Bio-Rad Laboratories, Inc., Class A* |
276 | 131,884 | ||||||
Bio-Techne Corp. |
967 | 70,243 | ||||||
Boston Scientific Corp.* |
2,576 | 120,351 | ||||||
Bristol-Myers Squibb Co. |
2,965 | 204,466 | ||||||
Bruker Corp. |
925 | 63,751 | ||||||
Cardinal Health, Inc. |
19,200 | 1,453,632 | ||||||
Centene Corp.* |
2,528 | 172,915 | ||||||
Charles River Laboratories International, Inc.* |
113 | 24,786 | ||||||
Chemed Corp. |
542 | 282,696 | ||||||
Cigna Group |
1,177 | 343,802 | ||||||
Cooper Cos., Inc. |
846 | 276,617 | ||||||
CVS Health Corp. |
3,782 | 315,948 | ||||||
Danaher Corp. |
205 | 50,744 | ||||||
DaVita, Inc.* |
1,017 | 83,659 | ||||||
DENTSPLY SIRONA, Inc. |
1,889 | 71,914 | ||||||
Dexcom, Inc.* |
141 | 15,652 | ||||||
Edwards Lifesciences Corp.* |
940 | 75,614 | ||||||
Elevance Health, Inc. |
448 | 210,412 | ||||||
Eli Lilly & Co. |
132 | 41,081 | ||||||
Encompass Health Corp. |
3,485 | 196,972 | ||||||
Enhabit, Inc.* |
2,979 | 45,728 | ||||||
Enovis Corp.* |
379 | 21,838 | ||||||
Envista Holdings Corp.* |
1,944 | 75,155 | ||||||
Exelixis, Inc.* |
5,990 | 102,309 | ||||||
GE HealthCare Technologies, Inc.* |
122 | 9,272 | ||||||
Gilead Sciences, Inc. |
3,968 | 319,543 | ||||||
Globus Medical, Inc., Class A* |
1,618 | 94,394 | ||||||
HCA Healthcare, Inc. |
811 | 197,438 | ||||||
Henry Schein, Inc.* |
8,190 | 641,359 | ||||||
Hologic, Inc.* |
5,677 | 452,116 | ||||||
Horizon Therapeutics PLC* |
397 | 43,468 | ||||||
Humana, Inc. |
65 | 32,176 |
Number |
Value |
|||||||
Health Care (Continued) | ||||||||
ICU Medical, Inc.* (a) |
278 | $ | 47,438 | |||||
IDEXX Laboratories, Inc.* |
216 | 102,220 | ||||||
Incyte Corp.* |
3,582 | 275,742 | ||||||
Insulet Corp.* |
71 | 19,622 | ||||||
Integra LifeSciences Holdings Corp.* |
685 | 38,100 | ||||||
Intuitive Surgical, Inc.* |
242 | 55,512 | ||||||
Ionis Pharmaceuticals, Inc.* |
1,033 | 37,085 | ||||||
IQVIA Holdings, Inc.* |
528 | 110,072 | ||||||
Jazz Pharmaceuticals PLC* |
113 | 15,865 | ||||||
Johnson & Johnson |
259 | 39,694 | ||||||
Laboratory Corp. of America Holdings |
1,564 | 374,359 | ||||||
Masimo Corp.* |
199 | 33,295 | ||||||
McKesson Corp. |
4,100 | 1,434,221 | ||||||
Medtronic PLC |
1,557 | 128,920 | ||||||
Merck & Co., Inc. |
868 | 92,216 | ||||||
Mettler-Toledo International, Inc.* |
158 | 226,526 | ||||||
Molina Healthcare, Inc.* |
1,940 | 534,140 | ||||||
Neurocrine Biosciences, Inc.* |
984 | 101,450 | ||||||
Organon & Co. |
9,898 | 242,402 | ||||||
PerkinElmer, Inc. |
206 | 25,661 | ||||||
Perrigo Co. PLC |
925 | 34,863 | ||||||
Pfizer, Inc. |
2,500 | 101,425 | ||||||
Premier, Inc., Class A |
4,915 | 158,214 | ||||||
QIAGEN NV* |
2,881 | 132,382 | ||||||
Quest Diagnostics, Inc. |
4,013 | 555,239 | ||||||
QuidelOrtho Corp.* |
320 | 27,821 | ||||||
Regeneron Pharmaceuticals, Inc.* |
766 | 582,482 | ||||||
Repligen Corp.* |
149 | 25,981 | ||||||
ResMed, Inc. |
575 | 122,475 | ||||||
Royalty Pharma PLC, Class A |
4,800 | 172,080 | ||||||
Seagen, Inc.* |
133 | 23,899 | ||||||
STERIS PLC |
91 | 17,111 | ||||||
Stryker Corp. |
348 | 91,482 | ||||||
Teleflex, Inc. |
293 | 69,801 | ||||||
Thermo Fisher Scientific, Inc. |
49 | 26,546 | ||||||
United Therapeutics Corp.* |
1,048 | 257,850 | ||||||
UnitedHealth Group, Inc. |
70 | 33,316 | ||||||
Universal Health Services, Inc., Class B |
1,754 | 234,282 | ||||||
Veeva Systems, Inc., Class A* |
399 | 66,098 | ||||||
Vertex Pharmaceuticals, Inc.* |
1,090 | 316,416 | ||||||
Viatris, Inc. |
15,131 | 172,493 | ||||||
Waters Corp.* |
732 | 227,572 | ||||||
West Pharmaceutical Services, Inc. |
252 | 79,892 | ||||||
Zimmer Biomet Holdings, Inc. |
1,078 | 133,532 | ||||||
Zoetis, Inc. |
356 | 59,452 | ||||||
|
|
|||||||
(Cost $15,120,285) |
15,946,147 | |||||||
|
|
|||||||
Industrials — 18.7% | ||||||||
3M Co. |
2,249 | 242,307 | ||||||
A O Smith Corp. |
3,900 | 255,957 | ||||||
Acuity Brands, Inc. |
1,018 | 197,451 | ||||||
Advanced Drainage Systems, Inc. |
277 | 24,578 | ||||||
AECOM |
3,251 | 280,756 | ||||||
AGCO Corp. |
2,773 | 390,466 | ||||||
Alaska Air Group, Inc.* |
2,893 | 138,372 | ||||||
Allegion PLC |
1,940 | 218,657 | ||||||
Allison Transmission Holdings, Inc. |
7,139 | 339,102 |
See Notes to Financial Statements. | 43 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
Industrials (Continued) | ||||||||
American Airlines Group, Inc.* |
1,061 | $ | 16,955 | |||||
AMETEK, Inc. |
1,432 | 202,714 | ||||||
Armstrong World Industries, Inc. |
567 | 44,708 | ||||||
Axon Enterprise, Inc.* |
263 | 52,681 | ||||||
Booz Allen Hamilton Holding Corp. |
3,027 | 286,748 | ||||||
Builders FirstSource, Inc.* |
765 | 64,857 | ||||||
BWX Technologies, Inc. |
3,920 | 239,551 | ||||||
C.H. Robinson Worldwide, Inc. |
5,178 | 517,593 | ||||||
CACI International, Inc., Class A* |
1,616 | 473,488 | ||||||
Carlisle Cos., Inc. |
395 | 101,997 | ||||||
Carrier Global Corp. |
4,582 | 206,327 | ||||||
Caterpillar, Inc. |
861 | 206,253 | ||||||
Cintas Corp. |
531 | 232,828 | ||||||
Clean Harbors, Inc.* |
702 | 92,713 | ||||||
Copa Holdings SA, Class A* |
300 | 27,705 | ||||||
Copart, Inc.* |
3,432 | 241,819 | ||||||
CoStar Group, Inc.* |
1,010 | 71,367 | ||||||
Crane Holdings Co. |
2,328 | 278,848 | ||||||
CSX Corp. |
6,157 | 187,727 | ||||||
Cummins, Inc. |
3,208 | 779,801 | ||||||
Curtiss-Wright Corp. |
1,274 | 222,682 | ||||||
Deere & Co. |
278 | 116,549 | ||||||
Delta Air Lines, Inc.* |
4,163 | 159,609 | ||||||
Donaldson Co., Inc. |
4,405 | 278,616 | ||||||
Dover Corp. |
1,388 | 208,061 | ||||||
Driven Brands Holdings, Inc.* |
365 | 10,211 | ||||||
Dun & Bradstreet Holdings, Inc. |
1,696 | 20,369 | ||||||
Eaton Corp. PLC |
1,094 | 191,373 | ||||||
Emerson Electric Co. |
909 | 75,183 | ||||||
Equifax, Inc. |
325 | 65,822 | ||||||
Esab Corp. |
2,640 | 154,836 | ||||||
Expeditors International of Washington, Inc. |
5,467 | 571,629 | ||||||
Fastenal Co. |
4,578 | 236,042 | ||||||
FedEx Corp. |
1,473 | 299,343 | ||||||
Flowserve Corp. |
2,082 | 72,225 | ||||||
Fortive Corp. |
1,628 | 108,522 | ||||||
Fortune Brands Innovations, Inc. |
1,485 | 91,996 | ||||||
FTI Consulting, Inc.* |
2,087 | 383,403 | ||||||
Gates Industrial Corp. PLC* |
691 | 9,702 | ||||||
General Dynamics Corp. |
1,460 | 332,749 | ||||||
General Electric Co. |
368 | 31,173 | ||||||
Graco, Inc. |
4,124 | 286,783 | ||||||
GXO Logistics, Inc.* |
372 | 18,440 | ||||||
HEICO Corp. |
452 | 74,838 | ||||||
HEICO Corp., Class A |
709 | 92,276 | ||||||
Hexcel Corp. |
355 | 25,897 | ||||||
Honeywell International, Inc. |
572 | 109,527 | ||||||
Howmet Aerospace, Inc. |
1,582 | 66,729 | ||||||
Hubbell, Inc. |
1,066 | 268,142 | ||||||
Huntington Ingalls Industries, Inc. |
586 | 126,107 | ||||||
IAA, Inc.* |
1,095 | 44,796 | ||||||
IDEX Corp. |
966 | 217,331 | ||||||
Illinois Tool Works, Inc. |
1,091 | 254,378 | ||||||
Ingersoll Rand, Inc. |
1,778 | 103,248 | ||||||
ITT, Inc. |
710 | 64,532 | ||||||
Jacobs Solutions, Inc. |
1,053 | 125,833 |
Number |
Value |
|||||||
Industrials (Continued) | ||||||||
JB Hunt Transport Services, Inc. |
2,395 | $ | 432,992 | |||||
JetBlue Airways Corp.* |
1,112 | 9,230 | ||||||
Johnson Controls International PLC |
2,950 | 185,024 | ||||||
KBR, Inc. |
2,893 | 159,433 | ||||||
Kirby Corp.* |
599 | 43,445 | ||||||
Knight-Swift Transportation Holdings, Inc. |
6,223 | 353,715 | ||||||
L3Harris Technologies, Inc. |
1,788 | 377,608 | ||||||
Landstar System, Inc. |
2,762 | 499,342 | ||||||
Leidos Holdings, Inc. |
6,764 | 656,581 | ||||||
Lennox International, Inc. |
1,010 | 257,378 | ||||||
Lincoln Electric Holdings, Inc. |
1,881 | 315,876 | ||||||
Lockheed Martin Corp. |
943 | 447,227 | ||||||
ManpowerGroup, Inc. |
3,574 | 303,361 | ||||||
Masco Corp. |
4,709 | 246,893 | ||||||
MasTec, Inc.* |
886 | 86,580 | ||||||
Masterbrand, Inc.* |
3,116 | 30,350 | ||||||
MDU Resources Group, Inc. |
4,959 | 157,944 | ||||||
Middleby Corp.* |
350 | 54,421 | ||||||
MSA Safety, Inc. |
329 | 44,201 | ||||||
MSC Industrial Direct Co., Inc., Class A |
2,381 | 201,242 | ||||||
Nordson Corp. |
978 | 214,808 | ||||||
Norfolk Southern Corp. |
807 | 181,430 | ||||||
Northrop Grumman Corp. |
787 | 365,255 | ||||||
nVent Electric PLC |
3,326 | 152,464 | ||||||
Old Dominion Freight Line, Inc. |
749 | 254,106 | ||||||
Oshkosh Corp. |
133 | 11,862 | ||||||
Otis Worldwide Corp. |
4,109 | 347,704 | ||||||
Owens Corning |
5,015 | 490,417 | ||||||
PACCAR, Inc. |
7,629 | 550,814 | ||||||
Parker-Hannifin Corp. |
788 | 277,258 | ||||||
Pentair PLC |
2,672 | 149,472 | ||||||
Quanta Services, Inc. |
421 | 67,949 | ||||||
Raytheon Technologies Corp. |
1,270 | 124,574 | ||||||
Republic Services, Inc. |
1,463 | 188,625 | ||||||
Robert Half International, Inc. |
2,936 | 236,700 | ||||||
Rockwell Automation, Inc. |
382 | 112,663 | ||||||
Rollins, Inc. |
4,596 | 161,779 | ||||||
RXO, Inc.* (a) |
7,213 | 148,371 | ||||||
Ryder System, Inc. |
2,557 | 250,356 | ||||||
Schneider National, Inc., Class B |
4,233 | 118,778 | ||||||
Science Applications International Corp. |
4,095 | 436,691 | ||||||
Sensata Technologies Holding PLC |
860 | 43,499 | ||||||
SiteOne Landscape Supply, Inc.* (a) |
183 | 27,146 | ||||||
Snap-on, Inc. |
2,532 | 629,658 | ||||||
Southwest Airlines Co. |
7,024 | 235,866 | ||||||
Stanley Black & Decker, Inc. |
203 | 17,379 | ||||||
Stericycle, Inc.* |
1,125 | 53,640 | ||||||
Tetra Tech, Inc. |
1,627 | 222,720 | ||||||
Textron, Inc. |
3,822 | 277,210 | ||||||
Timken Co. |
1,297 | 110,829 | ||||||
Toro Co. |
4,684 | 517,301 | ||||||
Trane Technologies PLC |
963 | 178,126 | ||||||
TransDigm Group, Inc. |
80 | 59,510 | ||||||
TransUnion |
811 | 53,064 | ||||||
U-Haul Holding Co. |
1,058 | 58,857 | ||||||
U-Haul Holding Co. |
241 | 15,475 |
See Notes to Financial Statements. | 44 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
Industrials (Continued) | ||||||||
Union Pacific Corp. |
622 | $ | 128,928 | |||||
United Airlines Holdings, Inc.* |
438 | 22,758 | ||||||
United Parcel Service, Inc., Class B |
1,488 | 271,545 | ||||||
United Rentals, Inc. |
456 | 213,650 | ||||||
Univar Solutions, Inc.* |
1,477 | 51,326 | ||||||
Valmont Industries, Inc. |
290 | 92,026 | ||||||
Verisk Analytics, Inc. |
698 | 119,435 | ||||||
W.W. Grainger, Inc. |
696 | 465,227 | ||||||
Waste Management, Inc. |
1,947 | 291,583 | ||||||
Watsco, Inc. |
1,165 | 354,987 | ||||||
WESCO International, Inc.* |
651 | 107,793 | ||||||
Westinghouse Air Brake Technologies Corp. |
1,954 | 203,861 | ||||||
WillScot Mobile Mini Holdings Corp.* |
1,979 | 101,721 | ||||||
Woodward, Inc. |
651 | 64,449 | ||||||
XPO, Inc.* |
3,142 | 104,817 | ||||||
Xylem, Inc. |
1,173 | 120,408 | ||||||
|
|
|||||||
(Cost $23,382,681) |
26,852,991 | |||||||
|
|
|||||||
Information Technology — 14.7% | ||||||||
Accenture PLC, Class A |
350 | 92,943 | ||||||
Adobe, Inc.* |
222 | 71,917 | ||||||
Advanced Micro Devices, Inc.* |
318 | 24,988 | ||||||
Akamai Technologies, Inc.* |
4,707 | 341,728 | ||||||
Allegro MicroSystems, Inc.* |
1,523 | 66,525 | ||||||
Amdocs Ltd. |
9,331 | 854,813 | ||||||
Amphenol Corp., Class A |
4,087 | 316,824 | ||||||
Analog Devices, Inc. |
2,370 | 434,824 | ||||||
ANSYS, Inc.* |
379 | 115,068 | ||||||
Apple, Inc. |
1,732 | 255,314 | ||||||
Applied Materials, Inc. |
2,105 | 244,496 | ||||||
Arista Networks, Inc.* |
924 | 128,159 | ||||||
Arrow Electronics, Inc.* |
3,352 | 395,502 | ||||||
Atlassian Corp., Class A* |
157 | 25,800 | ||||||
Autodesk, Inc.* |
635 | 126,168 | ||||||
Automatic Data Processing, Inc. |
1,088 | 239,164 | ||||||
Avnet, Inc. |
6,543 | 292,538 | ||||||
Black Knight, Inc.* |
1,345 | 80,162 | ||||||
Broadcom, Inc. |
142 | 84,389 | ||||||
Broadridge Financial Solutions, Inc. |
1,097 | 154,436 | ||||||
Cadence Design Systems, Inc.* |
2,198 | 424,082 | ||||||
CDW Corp. |
462 | 93,518 | ||||||
Ciena Corp.* |
1,510 | 72,812 | ||||||
Cirrus Logic, Inc.* |
3,320 | 341,130 | ||||||
Cisco Systems, Inc. |
2,728 | 132,090 | ||||||
Cognex Corp. |
1,004 | 47,610 | ||||||
Cognizant Technology Solutions Corp., Class A |
9,511 | 595,674 | ||||||
Coherent Corp.* (a) |
222 | 9,575 | ||||||
Concentrix Corp. |
1,073 | 146,829 | ||||||
Corning, Inc. |
19,691 | 668,509 | ||||||
Dell Technologies, Inc., Class C |
12,110 | 492,150 | ||||||
Dolby Laboratories, Inc., Class A |
2,099 | 172,706 | ||||||
Dropbox, Inc., Class A* |
13,708 | 279,643 | ||||||
DXC Technology Co.* |
1,954 | 54,204 | ||||||
Entegris, Inc. |
560 | 47,729 | ||||||
EPAM Systems, Inc.* |
148 | 45,532 |
Number |
Value |
|||||||
Information Technology (Continued) | ||||||||
Euronet Worldwide, Inc.* |
576 | $ | 62,698 | |||||
F5, Inc.* |
1,083 | 154,847 | ||||||
Fair Isaac Corp.* |
417 | 282,472 | ||||||
Fidelity National Information Services, Inc. |
715 | 45,310 | ||||||
First Solar, Inc.* |
875 | 147,997 | ||||||
Fiserv, Inc.* |
1,200 | 138,108 | ||||||
FleetCor Technologies, Inc.* |
919 | 197,392 | ||||||
Fortinet, Inc.* |
2,883 | 171,366 | ||||||
Gartner, Inc.* |
1,703 | 558,260 | ||||||
Gen Digital, Inc. |
13,191 | 257,356 | ||||||
Genpact Ltd. |
4,526 | 216,026 | ||||||
Global Payments, Inc. |
1,248 | 140,026 | ||||||
Globant SA* |
255 | 42,095 | ||||||
GoDaddy, Inc., Class A* |
2,536 | 192,001 | ||||||
Hewlett Packard Enterprise Co. |
52,463 | 818,947 | ||||||
HP, Inc. |
16,306 | 481,353 | ||||||
Intel Corp. |
8,682 | 216,442 | ||||||
International Business Machines Corp. |
1,928 | 249,290 | ||||||
Intuit, Inc. |
53 | 21,581 | ||||||
IPG Photonics Corp.* |
417 | 51,391 | ||||||
Jabil, Inc. |
9,480 | 787,124 | ||||||
Jack Henry & Associates, Inc. |
2,208 | 362,642 | ||||||
Juniper Networks, Inc. |
6,571 | 202,255 | ||||||
Keysight Technologies, Inc.* |
1,295 | 207,148 | ||||||
KLA Corp. |
1,541 | 584,625 | ||||||
Lam Research Corp. |
379 | 184,198 | ||||||
Lattice Semiconductor Corp.* |
1,660 | 141,034 | ||||||
Littelfuse, Inc. |
428 | 110,736 | ||||||
Lumentum Holdings, Inc.* |
244 | 13,130 | ||||||
Manhattan Associates, Inc.* |
777 | 111,694 | ||||||
Mastercard, Inc., Class A |
121 | 42,990 | ||||||
Microchip Technology, Inc. |
2,504 | 202,899 | ||||||
Micron Technology, Inc. |
6,146 | 355,362 | ||||||
Microsoft Corp. |
513 | 127,952 | ||||||
MKS Instruments, Inc. |
304 | 29,467 | ||||||
Monolithic Power Systems, Inc. |
350 | 169,502 | ||||||
Motorola Solutions, Inc. |
905 | 237,843 | ||||||
National Instruments Corp. |
3,035 | 153,298 | ||||||
NCR Corp.* |
500 | 12,765 | ||||||
NetApp, Inc. |
5,884 | 379,812 | ||||||
ON Semiconductor Corp.* |
957 | 74,081 | ||||||
Oracle Corp. |
579 | 50,605 | ||||||
Palo Alto Networks, Inc.* |
946 | 178,198 | ||||||
Paychex, Inc. |
2,570 | 283,728 | ||||||
Paycom Software, Inc.* |
267 | 77,179 | ||||||
Paylocity Holding Corp.* |
167 | 32,166 | ||||||
PayPal Holdings, Inc.* |
326 | 23,994 | ||||||
PTC, Inc.* |
1,131 | 141,748 | ||||||
Pure Storage, Inc., Class A* |
1,842 | 52,571 | ||||||
Qorvo, Inc.* |
2,318 | 233,863 | ||||||
QUALCOMM, Inc. |
1,217 | 150,336 | ||||||
Roper Technologies, Inc. |
483 | 207,787 | ||||||
Salesforce, Inc.* |
78 | 12,762 | ||||||
ServiceNow, Inc.* |
140 | 60,504 | ||||||
Skyworks Solutions, Inc. |
2,498 | 278,702 | ||||||
SS&C Technologies Holdings, Inc. |
2,089 | 122,624 |
See Notes to Financial Statements. | 45 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
Information Technology (Continued) | ||||||||
Synopsys, Inc.* |
1,304 | $ | 474,343 | |||||
Teradata Corp.* |
2,281 | 92,974 | ||||||
Teradyne, Inc. |
1,856 | 187,716 | ||||||
Texas Instruments, Inc. |
2,251 | 385,934 | ||||||
Trimble, Inc.* |
1,240 | 64,554 | ||||||
Tyler Technologies, Inc.* |
81 | 26,021 | ||||||
Universal Display Corp. |
321 | 43,608 | ||||||
VeriSign, Inc.* |
1,492 | 293,670 | ||||||
Viasat, Inc.* |
587 | 18,643 | ||||||
Visa, Inc., Class A |
311 | 68,401 | ||||||
VMware, Inc., Class A* |
1,403 | 154,512 | ||||||
Vontier Corp. |
1,567 | 41,008 | ||||||
Western Digital Corp.* |
1,725 | 66,378 | ||||||
Western Union Co. |
19,170 | 248,443 | ||||||
WEX, Inc.* |
160 | 30,850 | ||||||
Workday, Inc., Class A* |
245 | 45,440 | ||||||
Zebra Technologies Corp., Class A* |
153 | 45,938 | ||||||
|
|
|||||||
(Cost $19,499,519) |
21,100,266 | |||||||
|
|
|||||||
Materials — 8.6% | ||||||||
Air Products and Chemicals, Inc. |
622 | 177,880 | ||||||
Albemarle Corp. |
89 | 22,634 | ||||||
Alcoa Corp. |
791 | 38,711 | ||||||
Amcor PLC |
26,655 | 296,937 | ||||||
AptarGroup, Inc. |
1,397 | 163,058 | ||||||
Ashland, Inc. |
842 | 85,699 | ||||||
Avery Dennison Corp. |
744 | 135,549 | ||||||
Axalta Coating Systems Ltd.* |
3,201 | 95,390 | ||||||
Ball Corp. |
1,461 | 82,123 | ||||||
Berry Global Group, Inc. |
3,671 | 227,969 | ||||||
Celanese Corp. |
1,618 | 188,060 | ||||||
CF Industries Holdings, Inc. |
5,049 | 433,659 | ||||||
Chemours Co. |
2,118 | 72,393 | ||||||
Cleveland-Cliffs, Inc.* (a) |
1,605 | 34,235 | ||||||
Corteva, Inc. |
7,409 | 461,507 | ||||||
Crown Holdings, Inc. |
835 | 72,236 | ||||||
Dow, Inc. |
9,324 | 533,333 | ||||||
DuPont de Nemours, Inc. |
7,856 | 573,724 | ||||||
Eagle Materials, Inc. |
1,136 | 159,403 | ||||||
Eastman Chemical Co. |
1,884 | 160,517 | ||||||
Ecolab, Inc. |
225 | 35,858 | ||||||
Element Solutions, Inc. |
1,832 | 37,629 | ||||||
FMC Corp. |
1,624 | 209,740 | ||||||
Freeport-McMoRan, Inc. |
3,502 | 143,477 | ||||||
Graphic Packaging Holding Co. |
5,593 | 133,113 | ||||||
Huntsman Corp. |
8,283 | 243,023 | ||||||
International Paper Co. |
9,026 | 328,456 | ||||||
Linde PLC |
451 | 157,115 | ||||||
Louisiana-Pacific Corp. |
2,405 | 140,716 | ||||||
LyondellBasell Industries NV, Class A |
6,826 | 655,228 | ||||||
Martin Marietta Materials, Inc. |
195 | 70,175 | ||||||
Mosaic Co. |
3,850 | 204,781 | ||||||
NewMarket Corp. |
55 | 18,892 | ||||||
Newmont Corp. |
4,175 | 182,072 | ||||||
Nucor Corp. |
7,241 | 1,212,433 | ||||||
Olin Corp. |
4,176 | 241,164 | ||||||
Packaging Corp. of America |
3,368 | 460,473 |
Number |
Value |
|||||||
Materials (Continued) | ||||||||
PPG Industries, Inc. |
1,132 | $ | 149,492 | |||||
Reliance Steel & Aluminum Co. |
4,499 | 1,115,032 | ||||||
Royal Gold, Inc. |
1,385 | 164,524 | ||||||
RPM International, Inc. |
1,477 | 130,906 | ||||||
Sealed Air Corp. |
2,459 | 119,557 | ||||||
Sherwin-Williams Co. |
433 | 95,844 | ||||||
Silgan Holdings, Inc. |
3,666 | 195,764 | ||||||
Sonoco Products Co. |
2,115 | 124,912 | ||||||
Southern Copper Corp. (a) |
823 | 60,647 | ||||||
SSR Mining, Inc. |
7,218 | 98,526 | ||||||
Steel Dynamics, Inc. |
8,419 | 1,061,720 | ||||||
United States Steel Corp. |
3,303 | 101,171 | ||||||
Valvoline, Inc. |
476 | 16,755 | ||||||
Vulcan Materials Co. |
455 | 82,314 | ||||||
Westlake Corp. (a) |
996 | 118,663 | ||||||
Westrock Co. |
7,202 | 226,143 | ||||||
|
|
|||||||
(Cost $10,342,018) |
12,351,332 | |||||||
|
|
|||||||
Real Estate — 3.0% | ||||||||
Alexandria Real Estate Equities, Inc. REIT |
245 | 36,696 | ||||||
American Homes 4 Rent, Class A REIT |
967 | 29,996 | ||||||
American Tower Corp. REIT |
233 | 46,136 | ||||||
Americold Realty Trust, Inc. REIT |
249 | 7,321 | ||||||
Apartment Income REIT Corp. REIT |
2,657 | 100,435 | ||||||
AvalonBay Communities, Inc. REIT |
529 | 91,263 | ||||||
Boston Properties, Inc. REIT |
658 | 43,086 | ||||||
Brixmor Property Group, Inc. REIT |
2,271 | 51,415 | ||||||
Camden Property Trust REIT |
393 | 45,101 | ||||||
CBRE Group, Inc., Class A* |
3,786 | 322,340 | ||||||
Cousins Properties, Inc. REIT |
1,169 | 28,629 | ||||||
Crown Castle, Inc. REIT |
304 | 39,748 | ||||||
CubeSmart REIT |
1,391 | 65,363 | ||||||
Digital Realty Trust, Inc. REIT |
699 | 72,857 | ||||||
EastGroup Properties, Inc. REIT |
316 | 51,593 | ||||||
Equinix, Inc. REIT |
42 | 28,907 | ||||||
Equity LifeStyle Properties, Inc. REIT |
1,320 | 90,433 | ||||||
Equity Residential REIT |
2,251 | 140,733 | ||||||
Essex Property Trust, Inc. REIT |
215 | 49,033 | ||||||
Extra Space Storage, Inc. REIT |
966 | 159,052 | ||||||
Federal Realty Investment Trust REIT |
546 | 58,302 | ||||||
First Industrial Realty Trust, Inc. REIT |
1,787 | 94,264 | ||||||
Gaming and Leisure Properties, Inc. REIT |
1,325 | 71,391 | ||||||
Healthcare Realty Trust, Inc. REIT |
1,640 | 31,980 | ||||||
Healthpeak Properties, Inc. REIT |
2,051 | 49,347 | ||||||
Highwoods Properties, Inc. REIT |
1,814 | 48,071 | ||||||
Host Hotels & Resorts, Inc. REIT |
946 | 15,893 | ||||||
Invitation Homes, Inc. REIT |
985 | 30,791 | ||||||
Iron Mountain, Inc. REIT |
2,403 | 126,758 | ||||||
Jones Lang LaSalle, Inc.* |
595 | 103,804 | ||||||
Kilroy Realty Corp. REIT |
1,856 | 66,853 | ||||||
Kimco Realty Corp. REIT |
5,009 | 103,235 | ||||||
Lamar Advertising Co., Class A REIT |
1,152 | 120,453 | ||||||
Life Storage, Inc. REIT |
582 | 70,143 | ||||||
Medical Properties Trust, Inc. REIT (a) |
2,684 | 27,645 | ||||||
Mid-America Apartment Communities, Inc. REIT |
522 | 83,572 | ||||||
National Retail Properties, Inc. REIT |
1,686 | 76,410 |
See Notes to Financial Statements. | 46 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
February 28, 2023 (Unaudited)
Number |
Value |
|||||||
Real Estate (Continued) | ||||||||
National Storage Affiliates Trust REIT |
293 | $ | 12,394 | |||||
Omega Healthcare Investors, Inc. REIT |
1,976 | 52,937 | ||||||
Prologis, Inc. REIT |
381 | 47,015 | ||||||
Public Storage REIT |
812 | 242,747 | ||||||
Rayonier, Inc. REIT |
2,096 | 70,384 | ||||||
Realty Income Corp. REIT |
646 | 41,312 | ||||||
Regency Centers Corp. REIT |
1,289 | 81,078 | ||||||
Rexford Industrial Realty, Inc. REIT |
450 | 27,207 | ||||||
SBA Communications Corp. REIT |
147 | 38,124 | ||||||
Simon Property Group, Inc. REIT |
651 | 79,481 | ||||||
SL Green Realty Corp. REIT |
719 | 24,482 | ||||||
Spirit Realty Capital, Inc. REIT |
692 | 28,497 | ||||||
Sun Communities, Inc. REIT |
348 | 49,813 | ||||||
UDR, Inc. REIT |
619 | 26,518 | ||||||
Ventas, Inc. REIT |
141 | 6,860 | ||||||
VICI Properties, Inc. REIT |
4,850 | 162,620 | ||||||
Vornado Realty Trust REIT (a) |
510 | 10,088 | ||||||
Welltower, Inc. REIT |
228 | 16,899 | ||||||
Weyerhaeuser Co. REIT |
16,419 | 513,094 | ||||||
WP Carey, Inc. REIT |
1,450 | 117,682 | ||||||
|
|
|||||||
(Cost $4,361,247) |
4,328,281 | |||||||
|
|
|||||||
Utilities — 5.7% | ||||||||
AES Corp. |
7,039 | 173,722 | ||||||
Alliant Energy Corp. |
3,028 | 155,246 | ||||||
Ameren Corp. |
2,935 | 242,754 | ||||||
American Electric Power Co., Inc. |
3,178 | 279,569 | ||||||
American Water Works Co., Inc. |
865 | 121,429 | ||||||
Atmos Energy Corp. |
2,240 | 252,694 | ||||||
Avangrid, Inc. |
829 | 32,356 | ||||||
Brookfield Renewable Corp., Class A |
1,027 | 28,602 | ||||||
CenterPoint Energy, Inc. |
5,279 | 146,862 | ||||||
CMS Energy Corp. |
6,158 | 363,137 | ||||||
Consolidated Edison, Inc. |
3,517 | 314,244 | ||||||
Constellation Energy Corp. |
470 | 35,198 | ||||||
Dominion Energy, Inc. |
2,748 | 152,844 | ||||||
DTE Energy Co. |
4,963 | 544,491 | ||||||
Duke Energy Corp. |
2,570 | 242,248 | ||||||
Edison International |
2,008 | 132,950 | ||||||
Entergy Corp. |
2,986 | 307,170 | ||||||
Essential Utilities, Inc. |
2,464 | 105,410 | ||||||
Evergy, Inc. |
3,994 | 234,887 | ||||||
Eversource Energy |
2,573 | 193,901 | ||||||
Exelon Corp. |
8,881 | 358,704 | ||||||
FirstEnergy Corp. |
7,140 | 282,316 | ||||||
Hawaiian Electric Industries, Inc. |
3,863 | 156,258 | ||||||
IDACORP, Inc. |
1,325 | 137,005 | ||||||
National Fuel Gas Co. |
5,553 | 318,076 | ||||||
NextEra Energy, Inc. |
764 | 54,267 | ||||||
NiSource, Inc. |
8,970 | 246,047 | ||||||
NRG Energy, Inc. |
14,375 | 471,356 | ||||||
OGE Energy Corp. |
4,307 | 153,846 | ||||||
Pinnacle West Capital Corp. |
3,596 | 264,953 | ||||||
PPL Corp. |
5,597 | 151,511 | ||||||
Public Service Enterprise Group, Inc. |
2,180 | 131,737 | ||||||
Sempra Energy |
1,479 | 221,791 | ||||||
Southern Co. |
3,592 | 226,511 |
Number |
Value |
|||||||
Utilities (Continued) | ||||||||
UGI Corp. |
8,106 | $ | 301,786 | |||||
Vistra Corp. |
4,735 | 104,123 | ||||||
WEC Energy Group, Inc. |
2,720 | 241,155 | ||||||
Xcel Energy, Inc. |
3,833 | 247,497 | ||||||
|
|
|||||||
(Cost $8,254,185) |
8,128,653 | |||||||
|
|
|||||||
TOTAL
COMMON STOCKS |
142,512,307 | |||||||
|
|
|||||||
EXCHANGE-TRADED FUNDS — 0.2% | ||||||||
iShares
Russell 1000 ETF |
1,750 | 383,512 | ||||||
|
|
|||||||
SECURITIES LENDING COLLATERAL — 0.1% | ||||||||
DWS
Government & Agency Securities Portfolio “DWS Government Cash
Institutional Shares”, 4.39% (b)(c) |
110,355 | 110,355 | ||||||
|
|
|||||||
CASH EQUIVALENTS — 0.2% | ||||||||
DWS
Government Money Market Series “Institutional Shares”, 4.51% (b) |
328,577 | 328,577 | ||||||
|
|
|||||||
TOTAL
INVESTMENTS — 99.9% |
$ | 143,334,751 | ||||||
Other assets and liabilities, net — 0.1% |
79,467 | |||||||
|
|
|||||||
NET ASSETS — 100.0% |
$ | 143,414,218 | ||||||
|
|
See Notes to Financial Statements. | 47 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
February 28, 2023 (Unaudited)
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2023 is as follows:
Value ($) at 8/31/2022 |
Purchases Cost ($) |
Sales Proceeds ($) |
Net Realized Gain/(Loss) ($) |
Net Change in Unrealized Appreciation (Depreciation) ($) |
Income ($) |
Capital Gain Distributions ($) |
Number of Shares at 2/28/2023 |
Value ($) at 2/28/2023 |
||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 0.1% |
|
|||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 4.39% (b)(c) |
| |||||||||||||||||||||||||||||||||||
304,334 | — | (193,979 | )(d) | — | — | 2,126 | — | 110,355 | 110,355 | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.2% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 4.51% (b) |
| |||||||||||||||||||||||||||||||||||
657,286 | 2,454,609 | (2,783,318 | ) | — | — | 9,252 | — | 328,577 | 328,577 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
961,620 | 2,454,609 | (2,977,297 | ) | — | — | 11,378 | — | 438,932 | 438,932 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
Non-income producing security. |
(a) |
All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2023 amounted to $1,713,752, which is 1.2% of net assets. |
(b) |
Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
(c) |
Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund held non-cash U.S. Treasury securities collateral having a value of $1,654,635. |
(d) |
Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2023. |
REIT: | Real Estate Investment Trust |
At February 28, 2023, open futures contracts purchased were as follows:
Contract Description |
Currency | Number of Contracts |
Notional Amount |
Contract Value |
Expiration Date |
Unrealized Appreciation (Depreciation) |
||||||||||||
S&P Mid 400 E-Mini Futures |
USD | 1 | $ | 251,480 | $ | 260,320 | 3/17/2023 | $ | 8,840 | |||||||||
S&P 500 E-Mini Futures |
USD | 1 | 201,266 | 198,775 | 3/17/2023 | (2,491 | ) | |||||||||||
|
|
|||||||||||||||||
Total net unrealized appreciation |
$ | 6,349 | ||||||||||||||||
|
|
For information on the Fund’s policy and additional disclosures regarding open futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
Currency Abbreviations
USD | U.S. Dollar |
See Notes to Financial Statements. | 48 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
February 28, 2023 (Unaudited)
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2023 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
Assets |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stocks (a) |
$ | 142,512,307 | $ | — | $ | — | $ | 142,512,307 | ||||||||
Exchange-Traded Funds |
383,512 | — | — | 383,512 | ||||||||||||
Short-Term Investments (a) |
438,932 | — | — | 438,932 | ||||||||||||
Derivatives (b) |
||||||||||||||||
Futures Contracts |
8,840 | — | — | 8,840 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
TOTAL |
$ | 143,343,591 | $ | — | $ | — | $ | 143,343,591 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Liabilities |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Derivatives (b) |
||||||||||||||||
Futures Contracts |
$ | (2,491 | ) | $ | — | $ | — | $ | (2,491 | ) | ||||||
|
|
|
|
|
|
|
|
|||||||||
TOTAL |
$ | (2,491 | ) | $ | — | $ | — | $ | (2,491 | ) | ||||||
|
|
|
|
|
|
|
|
(a) |
See Schedule of Investments for additional detailed categorizations. |
(b) |
Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
See Notes to Financial Statements. | 49 |
DBX ETF Trust
February 28, 2023 (Unaudited)
Xtrackers FTSE Developed ex US Multifactor ETF |
Xtrackers MSCI Kokusai Equity ETF |
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF |
Xtrackers Russell US Multifactor ETF |
|||||||||||||
Assets |
||||||||||||||||
Investment in non-affiliated securities at value |
$ | 64,346,689 | $ | 514,372,732 | $ | 9,437,729 | $ | 142,895,819 | ||||||||
Investment in affiliated securities at value |
— | 266,847 | — | — | ||||||||||||
Investment in DWS Government Money Market Series |
35,298 | 1,449,681 | 2,487 | 328,577 | ||||||||||||
Investment in DWS Government & Agency Securities Portfolio* |
914,720 | 1,008,168 | 11,086 | 110,355 | ||||||||||||
Cash |
— | — | — | 27 | ||||||||||||
Foreign currency at value |
228,295 | 2,172,495 | — | — | ||||||||||||
Deposit with broker for futures contracts |
15,541 | 199,126 | — | 26,510 | ||||||||||||
Receivables: | ||||||||||||||||
Investment securities sold |
4,803 | 1,944,497 | — | — | ||||||||||||
Variation margin on futures contracts |
— | 9,758 | — | — | ||||||||||||
Dividends |
218,449 | 825,073 | 18,529 | 247,413 | ||||||||||||
Interest |
148 | 4,843 | 13 | 1,437 | ||||||||||||
Securities lending income |
531 | 1,416 | 41 | 702 | ||||||||||||
Foreign tax reclaim |
54,410 | 287,785 | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total assets |
$ | 65,818,884 | $ | 522,542,421 | $ | 9,469,885 | $ | 143,610,840 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Liabilities |
||||||||||||||||
Payable upon return of securities loaned |
$ | 914,720 | $ | 1,008,168 | $ | 11,086 | $ | 110,355 | ||||||||
Payables: | ||||||||||||||||
Investment securities purchased |
1,082 | 2,676,824 | — | 66,048 | ||||||||||||
Investment advisory fees |
12,125 | 36,654 | 1,424 | 19,094 | ||||||||||||
Variation margin on futures contracts |
2,971 | — | — | 1,125 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total liabilities |
930,898 | 3,721,646 | 12,510 | 196,622 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net Assets, at value |
$ | 64,887,986 | $ | 518,820,775 | $ | 9,457,375 | $ | 143,414,218 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Net Assets Consist of |
||||||||||||||||
Paid-in capital |
$ | 83,657,243 | $ | 523,874,317 | $ | 12,784,071 | $ | 160,543,266 | ||||||||
Distributable earnings (loss) |
(18,769,257 | ) | (5,053,542 | ) | (3,326,696 | ) | (17,129,048 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Net Assets, at value |
$ | 64,887,986 | $ | 518,820,775 | $ | 9,457,375 | $ | 143,414,218 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Number of Common Shares outstanding |
2,450,001 | 7,070,001 | 250,001 | 3,300,001 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net Asset Value |
$ | 26.48 | $ | 73.38 | $ | 37.83 | $ | 43.46 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Investment in non-affiliated securities at cost |
$ | 64,026,692 | $ | 515,256,641 | $ | 9,270,726 | $ | 130,147,784 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Investment in affiliated securities at cost |
$ | — | $ | 240,695 | $ | — | $ | — | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Value of securities loaned |
$ | 1,607,168 | $ | 4,329,701 | $ | 121,371 | $ | 1,713,752 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Investment in DWS Government Money Market Series at cost |
$ | 35,298 | $ | 1,449,681 | $ | 2,487 | $ | 328,577 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Investment in DWS Government & Agency Securities Portfolio at cost* |
$ | 914,720 | $ | 1,008,168 | $ | 11,086 | $ | 110,355 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Non-cash collateral for securities on loan |
$ | 1,029,377 | $ | 3,594,106 | $ | 111,859 | $ | 1,654,635 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Foreign currency at cost |
$ | 225,102 | $ | 2,154,221 | $ | — | $ | — | ||||||||
|
|
|
|
|
|
|
|
* |
Represents collateral on securities loaned. |
See Notes to Financial Statements. | 50 |
DBX ETF Trust
For the Six Months Ended February 28, 2023 (Unaudited)
Xtrackers FTSE Developed ex US Multifactor ETF |
Xtrackers MSCI Kokusai Equity ETF |
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF |
Xtrackers Russell US Multifactor ETF |
|||||||||||||
Investment Income |
||||||||||||||||
Unaffiliated dividend income* |
$853,017 | $ | 4,433,320 | $ | 85,107 | $ | 1,441,757 | |||||||||
Income distributions from affiliated funds |
1,989 | 24,489 | 93 | 9,252 | ||||||||||||
Affiliated securities lending income |
4,514 | 16,452 | 174 | 2,126 | ||||||||||||
Unaffiliated non-cash dividend income |
53,596 | — | — | — | ||||||||||||
Unaffiliated securities lending income, net of borrower rebates |
— | — | — | 2,812 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total investment income |
913,116 | 4,474,261 | 85,374 | 1,455,947 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Expenses |
||||||||||||||||
Investment advisory fees |
109,099 | 223,813 | 9,170 | 117,435 | ||||||||||||
Other expenses |
153 | 58 | 194 | 153 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total expenses |
109,252 | 223,871 | 9,364 | 117,588 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Less fees waived (see note 3): |
||||||||||||||||
Waiver |
(34,326 | ) | (445 | ) | (81 | ) | (174 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Net expenses |
74,926 | 223,426 | 9,283 | 117,414 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net investment income (loss) |
838,190 | 4,250,835 | 76,091 | 1,338,533 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Realized and Unrealized Gain (Loss) |
||||||||||||||||
Net realized gain (loss) from: |
||||||||||||||||
Investments |
(4,900,167 | ) | (2,185,528 | ) | (4,157 | ) | (2,802,028 | ) | ||||||||
Investments in affiliates |
(1,511 | ) | — | — | — | |||||||||||
In-kind redemptions |
45,578 | — | 137,808 | 4,986,537 | ||||||||||||
Futures contracts |
44,616 | (13,124 | ) | — | 21,381 | |||||||||||
Foreign currency transactions |
(3,933 | ) | (29,045 | ) | — | — | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net realized gain (loss) |
(4,815,417 | ) | (2,227,697 | ) | 133,651 | 2,205,890 | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net change in unrealized appreciation (depreciation) on: |
||||||||||||||||
Investments |
7,242,575 | 18,865,956 | (96,262 | ) | 2,598,038 | |||||||||||
Investments in affiliates |
1,867 | 88,383 | — | — | ||||||||||||
Futures contracts |
15,287 | 27,708 | — | (14,421 | ) | |||||||||||
Foreign currency translations |
7,260 | 54,787 | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net change in unrealized appreciation (depreciation) |
7,266,989 | 19,036,834 | (96,262 | ) | 2,583,617 | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net realized and unrealized gain (loss) on investments, futures and foreign currency transactions |
2,451,572 | 16,809,137 | 37,389 | 4,789,507 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations |
$ | 3,289,762 | $ | 21,059,972 | $ | 113,480 | $ | 6,128,040 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
* Unaffiliated foreign tax withheld |
$ | 102,662 | $ | 117,002 | $ | — | $ | 217 |
See Notes to Financial Statements. | 51 |
DBX ETF Trust
Xtrackers FTSE Developed ex US Multifactor ETF |
Xtrackers MSCI Kokusai Equity ETF | |||||||||||||||
For the Six Months Ended February 28, 2023 (Unaudited) |
Year Ended August 31, 2022 |
For
the Six Months Ended February 28, 2023 (Unaudited) |
Year Ended August 31, 2022 |
|||||||||||||
Increase (Decrease) in Net Assets from Operations |
||||||||||||||||
Net investment income (loss) |
$ | 838,190 | $ | 2,378,827 | $ | 4,250,835 | $ | 9,830,418 | ||||||||
Net realized gain (loss) |
(4,815,417 | ) | 4,012,437 | (2,227,697 | ) | 108,176,625 | ||||||||||
Net change in net unrealized appreciation (depreciation) |
7,266,989 | (21,730,964 | ) | 19,036,834 | (190,678,220 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net increase (decrease) in net assets resulting from operations |
3,289,762 | (15,339,700 | ) | 21,059,972 | (72,671,177 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Distributions to Shareholders |
(901,870 | ) | (2,665,644 | ) | (4,614,166 | ) | (10,748,298 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Fund Shares Transactions |
||||||||||||||||
Proceeds from shares sold |
— | 34,320,381 | — | 219,667,883 | ||||||||||||
Value of shares redeemed |
(3,503,013 | ) | (21,000,774 | ) | — | (436,629,998 | ) | |||||||||
|
|
|
|
|
|
|
|
|||||||||
Net increase (decrease) in net assets resulting from fund share transactions |
(3,503,013 | ) | 13,319,607 | — | (216,962,115 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total net increase (decrease) in Net Assets |
(1,115,121 | ) | (4,685,737 | ) | 16,445,806 | (300,381,590 | ) | |||||||||
Net Assets |
||||||||||||||||
Beginning of period |
66,003,107 | 70,688,844 | 502,374,969 | 802,756,559 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
End of period |
$ | 64,887,986 | $ | 66,003,107 | $ | 518,820,775 | $ | 502,374,969 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Changes in Shares Outstanding |
||||||||||||||||
Shares outstanding, beginning of period |
2,600,001 | 2,150,001 | 7,070,001 | 9,450,001 | ||||||||||||
Shares sold |
— | 1,100,000 | — | 2,700,000 | ||||||||||||
Shares redeemed |
(150,000 | ) | (650,000 | ) | — | (5,080,000 | ) | |||||||||
|
|
|
|
|
|
|
|
|||||||||
Shares outstanding, end of period |
2,450,001 | 2,600,001 | 7,070,001 | 7,070,001 | ||||||||||||
|
|
|
|
|
|
|
|
See Notes to Financial Statements. | 52 |
DBX ETF Trust
Statements of Changes in Net Assets (Continued)
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF |
Xtrackers Russell US Multifactor ETF | |||||||||||||||
For
the Six Months Ended February 28, 2023 (Unaudited) |
Year Ended August 31, 2022 |
For
the Six Months Ended February 28, 2023 (Unaudited) |
Year Ended August 31, 2022 |
|||||||||||||
Increase (Decrease) in Net Assets from Operations |
||||||||||||||||
Net investment income (loss) |
$ | 76,091 | $ | 265,165 | $ | 1,338,533 | $ | 2,754,876 | ||||||||
Net realized gain (loss) |
133,651 | 5,906,029 | 2,205,890 | 19,100,647 | ||||||||||||
Net change in net unrealized appreciation (depreciation) |
(96,262 | ) | (6,983,389 | ) | 2,583,617 | (35,604,641 | ) | |||||||||
|
|
|
|
|
|
|
|
|||||||||
Net increase (decrease) in net assets resulting from operations |
113,480 | (812,195 | ) | 6,128,040 | (13,749,118 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Distributions to Shareholders |
(88,799 | ) | (319,266 | ) | (1,464,973 | ) | (2,701,417 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Fund Shares Transactions |
||||||||||||||||
Proceeds from shares sold |
— | 1,772,590 | 26,122,492 | 38,220,376 | ||||||||||||
Value of shares redeemed |
(1,715,762 | ) | (29,229,939 | ) | (33,071,586 | ) | (82,229,358 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Net increase (decrease) in net assets resulting from fund share transactions |
(1,715,762 | ) | (27,457,349 | ) | (6,949,094 | ) | (44,008,982 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Total net increase (decrease) in Net Assets |
(1,691,081 | ) | (28,588,810 | ) | (2,286,027 | ) | (60,459,517 | ) | ||||||||
Net Assets |
||||||||||||||||
Beginning of period |
11,148,456 | 39,737,266 | 145,700,245 | 206,159,762 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
End of period |
$ | 9,457,375 | $ | 11,148,456 | $ | 143,414,218 | $ | 145,700,245 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Changes in Shares Outstanding |
||||||||||||||||
Shares outstanding, beginning of period |
300,001 | 950,001 | 3,500,001 | 4,450,001 | ||||||||||||
Shares sold |
— | 50,000 | 650,000 | 850,000 | ||||||||||||
Shares redeemed |
(50,000 | ) | (700,000 | ) | (850,000 | ) | (1,800,000 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Shares outstanding, end of period |
250,001 | 300,001 | 3,300,001 | 3,500,001 | ||||||||||||
|
|
|
|
|
|
|
|
See Notes to Financial Statements. | 53 |
DBX ETF Trust
Xtrackers
FTSE Developed ex US Multifactor ETF Selected Per Share Data |
For
the Six Months Ended 2/28/2023 (Unaudited) |
Years Ended August 31, | ||||||||||||||||||||||
2022 | 2021 | 2020 | 2019 | 2018 | ||||||||||||||||||||
Net Asset Value, beginning of period |
$ | 25.39 | $ | 32.88 | $ | 27.84 | $ | 26.80 | $ | 28.84 | $ | 28.17 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||
Net investment income (loss)(a) |
0.33 | 1.01 | 0.84 | 0.62 | 0.83 | 0.77 | ||||||||||||||||||
Net realized and unrealized gain (loss) |
1.11 | (7.37 | ) | 5.35 | 1.32 | (2.11 | ) | 0.72 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total from investment operations |
1.44 | (6.36 | ) | 6.19 | 1.94 | (1.28 | ) | 1.49 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Less distributions from: | ||||||||||||||||||||||||
Net investment income |
(0.35 | ) | (1.13 | ) | (1.15 | ) | (0.90 | ) | (0.76 | ) | (0.82 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total distributions |
(0.35 | ) | (1.13 | ) | (1.15 | ) | (0.90 | ) | (0.76 | ) | (0.82 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Net Asset Value, end of period |
$ | 26.48 | $ | 25.39 | $ | 32.88 | $ | 27.84 | $ | 26.80 | $ | 28.84 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total Return (%) |
5.79 | **(b) | (19.75 | )(b) | 22.69 | (b) | 7.49 | (b) | (4.51 | )(b) | 5.32 | |||||||||||||
Ratios to Average Net Assets and Supplemental Data |
||||||||||||||||||||||||
Net Assets, end of period ($ millions) |
65 | 66 | 71 | 72 | 72 | 59 | ||||||||||||||||||
Ratio of expenses before fee waiver (%) |
0.35 | * | 0.35 | 0.35 | 0.35 | 0.35 | 0.35 | |||||||||||||||||
Ratio of expenses after fee waiver (%) |
0.24 | * | 0.24 | 0.24 | 0.24 | 0.29 | 0.35 | |||||||||||||||||
Ratio of net investment income (loss) (%) |
2.60 | * | 3.45 | 2.75 | 2.37 | 3.05 | 2.62 | |||||||||||||||||
Portfolio turnover rate (%)(c) |
27 | ** | 56 | 53 | 43 | 51 | 45 | |||||||||||||||||
Xtrackers
MSCI Kokusai Equity ETF Selected Per Share Data |
For
the Six Months Ended 2/28/2023 (Unaudited) |
Years Ended August 31, |
Period Ended 8/31/2020(d) |
|||||||||||||||||||||
2022 | 2021 | |||||||||||||||||||||||
Net Asset Value, beginning of period |
$ | 71.06 | $ | 84.95 | $ | 65.83 | $ | 50.00 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||
Net investment income (loss)(a) |
0.60 | 1.53 | 1.28 | 0.49 | ||||||||||||||||||||
Net realized and unrealized gain (loss) |
2.37 | (13.73 | ) | 18.91 | 15.34 | |||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Total from investment operations |
2.97 | (12.20 | ) | 20.19 | 15.83 | |||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Less distributions from: |
||||||||||||||||||||||||
Net investment income |
(0.65 | ) | (1.69 | ) | (1.06 | ) | — | |||||||||||||||||
Net realized gains |
— | — | (0.01 | ) | — | |||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Total distributions |
(0.65 | ) | (1.69 | ) | (1.07 | ) | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Net Asset Value, end of period |
$ | 73.38 | $ | 71.06 | $ | 84.95 | $ | 65.83 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Total Return (%)(b) |
4.23 | ** | (14.55 | ) | 30.87 | 31.66 | ** | |||||||||||||||||
Ratios to Average Net Assets and Supplemental Data |
||||||||||||||||||||||||
Net Assets, end of period ($ millions) |
519 | 502 | 803 | 132 | ||||||||||||||||||||
Ratio of expenses before fee waiver (%) |
0.09 | * | 0.09 | 0.09 | 0.09 | * | ||||||||||||||||||
Ratio of expenses after fee waiver (%) |
0.09 | * | 0.09 | 0.09 | 0.09 | * | ||||||||||||||||||
Ratio of net investment income (loss) (%) |
1.71 | * | 1.93 | 1.73 | 2.08 | * | ||||||||||||||||||
Portfolio turnover rate (%)(c) |
1 | ** | 4 | 6 | 7 | ** |
(a) |
Based on average shares outstanding during the period. |
(b) |
Total Return would have been lower if certain expenses had not been reimbursed by the Advisor. |
(c) |
Portfolio turnover rate does not include securities received or delivered from processing creations or redemptions. |
(d) |
For the period April 8, 2020 (commencement of operations) through August 31, 2020. |
* |
Annualized. |
** |
Not Annualized. |
See Notes to Financial Statements. | 54 |
DBX ETF Trust
Financial Highlights (Continued)
Xtrackers
Russell 1000 US Quality at a Reasonable Price ETF Selected Per Share Data |
For
the Six Months Ended 2/28/2023 (Unaudited) |
Years Ended August 31, | Period Ended 8/31/2018(a) |
|||||||||||||||||||||
2022 | 2021 | 2020 | 2019 | |||||||||||||||||||||
Net Asset Value, beginning of period |
$ | 37.16 | $ | 41.83 | $ | 31.43 | $ | 27.08 | $ | 27.29 | $ | 25.00 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||
Net investment income (loss)(b) |
0.29 | 0.53 | 0.52 | 0.52 | 0.51 | 0.21 | ||||||||||||||||||
Net realized and unrealized gain (loss) |
0.71 | (4.60 | ) | 10.44 | 4.42 | (0.25 | ) | 2.16 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total from investment operations |
1.00 | (4.07 | ) | 10.96 | 4.94 | 0.26 | 2.37 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Less distributions from: | ||||||||||||||||||||||||
Net investment income |
(0.33 | ) | (0.60 | ) | (0.56 | ) | (0.59 | ) | (0.47 | ) | (0.08 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total distributions |
(0.33 | ) | (0.60 | ) | (0.56 | ) | (0.59 | ) | (0.47 | ) | (0.08 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Net Asset Value, end of period |
$ | 37.83 | $ | 37.16 | $ | 41.83 | $ | 31.43 | $ | 27.08 | $ | 27.29 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total Return (%) |
2.72 | **(c) | (9.84 | )(c) | 35.25 | (c) | 18.72 | (c) | 1.03 | (c) | 9.52 | ** | ||||||||||||
Ratios to Average Net Assets and Supplemental Data |
||||||||||||||||||||||||
Net Assets, end of period ($ millions) |
9 | 11 | 40 | 101 | 111 | 61 | ||||||||||||||||||
Ratio of expenses before fee waiver (%) |
0.19 | * | 0.19 | 0.19 | 0.19 | 0.19 | 0.19 | * | ||||||||||||||||
Ratio of expenses after fee waiver (%) |
0.19 | * | 0.19 | 0.19 | 0.19 | 0.19 | 0.19 | * | ||||||||||||||||
Ratio of net investment income (loss) (%) |
1.58 | * | 1.29 | 1.51 | 1.85 | 1.93 | 2.00 | * | ||||||||||||||||
Portfolio turnover rate (%)(d) |
1 | ** | 14 | 13 | 22 | 31 | 26 | ** | ||||||||||||||||
Xtrackers
Russell US Multifactor ETF Selected Per Share Data |
For
the Six Months Ended 2/28/2023 (Unaudited) |
Years Ended August 31, | ||||||||||||||||||||||
2022 | 2021 | 2020 | 2019 | 2018 | ||||||||||||||||||||
Net Asset Value, beginning of period |
$ | 41.63 | $ | 46.33 | $ | 34.84 | $ | 33.88 | $ | 33.93 | $ | 29.47 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||
Net investment income (loss)(b) |
0.41 | 0.72 | 0.56 | 0.62 | 0.57 | 0.52 | ||||||||||||||||||
Net realized and unrealized gain (loss) |
1.85 | (4.76 | ) | 11.47 | 0.96 | (0.09 | ) | 4.44 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total from investment operations |
2.26 | (4.04 | ) | 12.03 | 1.58 | 0.48 | 4.96 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Less distributions from: | ||||||||||||||||||||||||
Net investment income |
(0.43 | ) | (0.66 | ) | (0.54 | ) | (0.62 | ) | (0.53 | ) | (0.50 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total distributions |
(0.43 | ) | (0.66 | ) | (0.54 | ) | (0.62 | ) | (0.53 | ) | (0.50 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Net Asset Value, end of period |
$ | 43.46 | $ | 41.63 | $ | 46.33 | $ | 34.84 | $ | 33.88 | $ | 33.93 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total Return (%)(c) |
5.47 | ** | (8.80 | ) | 34.85 | 4.93 | 1.53 | 16.97 | ||||||||||||||||
Ratios to Average Net Assets and Supplemental Data |
||||||||||||||||||||||||
Net Assets, end of period ($ millions) |
143 | 146 | 206 | 150 | 203 | 171 | ||||||||||||||||||
Ratio of expenses before fee waiver (%) |
0.17 | * | 0.17 | 0.17 | 0.17 | 0.17 | 0.19 | |||||||||||||||||
Ratio of expenses after fee waiver (%) |
0.17 | * | 0.17 | 0.17 | 0.17 | 0.17 | 0.18 | |||||||||||||||||
Ratio of net investment income (loss) (%) |
1.94 | * | 1.60 | 1.40 | 1.85 | 1.77 | 1.62 | |||||||||||||||||
Portfolio turnover rate (%)(d) |
14 | ** | 38 | 39 | 47 | 48 | 45 |
(a) |
For the period April 5, 2018 (commencement of operations) through August 31, 2018. |
(b) |
Based on average shares outstanding during the period. |
(c) |
Total Return would have been lower if certain expenses had not been reimbursed by the Advisor. |
(d) |
Portfolio turnover rate does not include securities received or delivered from processing creations or redemptions. |
* |
Annualized. |
** |
Not Annualized. |
See Notes to Financial Statements. | 55 |
DBX ETF Trust
1. Organization
DBX ETF Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end registered management investment company organized as a Delaware statutory trust.
As of February 28 2023, the Trust consists of thirty-eight investment series of exchange-traded funds (“ETFs”) (each a “Fund” and collectively, the “Funds”) in operation and trading. These financial statements report on the Funds listed below:
Xtrackers FTSE Developed ex US Multifactor ETF |
Xtrackers MSCI Kokusai Equity ETF |
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF Xtrackers Russell US Multifactor ETF |
DBX Advisors LLC (“DBX” or the “Advisor”), an indirect, wholly-owned subsidiary of DWS Group GmbH & Co. KGaA (“DWS Group”), serves as investment advisor to the Funds and has overall responsibility for the general management and administration of the Funds, subject to the supervision of the Funds’ Board of Trustees (“Board”).
Each Fund offers shares that are listed and traded on the NYSE Arca, Inc. (“NYSE Arca”). Unlike conventional mutual funds, each Fund issues and redeems shares on a continuous basis, at net asset value (“NAV”), only in large specified lots consisting of 50,000 shares, except for Xtrackers MSCI Kokusai Equity ETF which lots consist of 10,000 shares, each called a “Creation Unit”, to authorized participants who have entered into agreements with the Funds’ distributor. Shares are not individually redeemable securities of the Funds, and owners of the shares may acquire those shares from the Funds, or tender such shares for redemption to the Funds, in Creation Units only.
The investment objective of each Fund is to seek investment results that correspond generally to the performance, before fees and expenses, of a particular index (the “Underlying Index”). The underlying indices for the Funds are:
Fund |
Underlying Index | |
Xtrackers FTSE Developed ex US Multifactor ETF | FTSE Developed ex US Comprehensive Factor Index | |
Xtrackers MSCI Kokusai Equity ETF | MSCI Kokusai Index | |
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF Xtrackers Russell US Multifactor ETF |
Russell 1000 2Qual/Val 5% Capped Factor Index Russell 1000 Comprehensive Factor Index |
The FTSE Developed ex US Comprehensive Factor is designed to track the equity market performance of companies in developed countries (except the United States) selected on the investment style criteria (“factors”) of value, momentum, quality, low volatility and size. The companies eligible for the Underlying Index are derived from its starting universe, the FTSE Developed ex US Index, which is comprised of large- and mid-capitalization equity securities from developed markets (except the United States). The Underlying Index is rebalanced semiannually in March and September after the close of business on the third Friday of the review month.
The MSCI Kokusai Index, also known as the MSCI World ex Japan Index, is designed to track the performance of equity markets in developed markets (excluding Japan). The index is reviewed quarterly in February, May, August and November, with the objective of reflecting change in the underlying equity markets in a timely manner, while limiting undue index turnover. During the May and November semi-annual index reviews, the index is rebalanced and the large and mid capitalization cutoff points are recalculated.
The Russell 1000 2Qual/Val 5% Capped Factor Index is designed to track the equity market performance of companies in the United States selected on the investment style criteria (“factors”) of quality and value. The companies eligible for the Underlying Index are derived from its starting universe, the Russell 1000 Index, which is comprised of large-cap equity securities from issuers in the United States. The Underlying Index is rebalanced annually in June after the close of business on the third Friday of the review month. Upon a rebalancing, no issuer in the Underlying Index may represent more than 5% of the Underlying Index. In the event an issuer represents more than 5% of the Underlying Index at a rebalancing, such amount in excess of 5% shall be reallocated pro-rata to the other issuers in the Underlying Index.
The Russell 1000 Comprehensive Factor Index is designed to track the equity market performance of companies in the United States selected on the investment style criteria (“factors”) of value, momentum, quality, low volatility
56
DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
and size. The companies eligible for the Underlying Index are derived from its starting universe, the Russell 1000 Index, which is comprised of large-cap equity securities from issuers in the United States. The Underlying Index is rebalanced semiannually in June and December after the close of business on the third Friday of the review month.
Each Fund is entitled to use its respective Underlying Index pursuant to a licensing agreement between the Index Provider and DBX. There is no direct charge to the Funds in connection with these licensing agreements.
Each Fund, except Xtrackers MSCI Kokusai Equity ETF is diversified. Xtrackers MSCI Kokusai Equity ETF is non-diversified and is not limited by the 1940 Act with regard to the percentage of its assets that may be invested in the securities of a single issuer. This means the securities of a particular issuer (or securities of issuers in particular industries) may dominate the Underlying Index of the Fund and, consequently, the Fund’s investment portfolio. This may adversely affect the Fund’s performance or subject the Fund’s shares to greater price volatility than that experienced by more diversified investment companies. Each Fund may change its diversification status over time and then change it back again, without shareholder approval, solely as a result of a change in relative market capitalization or index weighting of one or more constituents of the index each Fund tracks.
Pursuant to the Trust’s organizational documents, the Trust’s officers and trustees are indemnified against certain liabilities that may arise out of the performance of their duties to the Funds. Additionally, in the normal course of business the Trust enters into contracts that contain a variety of representations that provide indemnification for certain liabilities. The Trust’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Funds that have not yet occurred. However, the Trust expects the risk of loss to be remote.
2. Significant Accounting Policies
The financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”), which require management to make certain estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. Each Fund qualifies as an investment company under Topic 946 of the Accounting Standards Codification of U.S. GAAP. The following is a summary of significant accounting policies followed by the Funds.
Security Valuation The NAV of each Fund’s shares is calculated each business day as of the close of regular trading on the New York Stock Exchange, generally 4:00 p.m. Eastern Time. NAV per share is calculated by dividing a Fund’s net assets by the number of Fund shares outstanding.
The Funds’ Board has designated the Advisor as the valuation designee for the Funds pursuant to Rule 2a-5 under the 1940 Act. The Advisor’s Pricing Committee (the “Pricing Committee”) typically values securities using readily available market quotations or prices supplied by independent pricing services (which are considered fair values under Rule 2a-5). The Advisor has adopted fair valuation procedures that provide methodologies for fair valuing securities.
Various inputs are used in determining the value of the Funds’ investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, and credit risk). Level 3 includes significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
Equity securities and ETFs are valued at the most recent sale price or official closing price reported on the exchange (U.S. or foreign) or over-the-counter market on which they trade. Securities or ETFs for which no sales are reported are valued at the calculated mean between the most recent bid and asked quotations on the relevant market or, if a mean cannot be determined, at the most recent bid quotation. Equity securities and ETFs are generally categorized as Level 1.
Corporate and sovereign debt securities are valued at prices supplied by independent pricing services approved by the Pricing Committee. Such services may use various pricing techniques which take into account appropriate factors such as yield, quality, coupon rate, maturity, type of issue, trading characteristics and other data, as well
57
DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
as broker quotes. If the pricing services are unable to provide valuations, securities are valued at the mean between the bid and ask quotations or evaluated prices, as applicable, obtained from broker-dealers. These securities are generally categorized as Level 2.
Investments in open-end investment companies are valued at their NAV each business day and are categorized as Level 1.
Futures contracts are generally valued at the settlement prices established each day on the exchange on which they are traded and are categorized as Level 1.
Securities and other assets for which market quotations are not readily available or for which the above valuation procedures are deemed not to reflect fair value are valued in a manner that is intended to reflect their fair value as determined in accordance with procedures approved by the Pricing Committee and are generally categorized as Level 3. In accordance with the Funds’ valuation procedures, factors considered in determining value may include, but are not limited to, the type of the security; the size of the holding; the initial cost of the security; the existence of any contractual restrictions on the security’s disposition; the price and extent of public trading in similar securities of the issuer or of comparable companies; quotations or evaluated prices from broker-dealers and/or pricing services; information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities); an analysis of the company’s or issuer’s financial statements; an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold; and with respect to debt securities, the maturity, coupon, creditworthiness, currency denomination and the movement of the market in which the security is normally traded. The value determined under these procedures may differ from published values for the same securities.
Fair value pricing could result in a difference between the prices used to calculate a Fund’s NAV and the prices used by the Fund’s Underlying Index, which in turn could result in a difference between the Fund’s performance and the performance of the Fund’s Underlying Index.
Disclosure about the classification of the fair value measurements is included in a table following the Fund’s Schedule of Investments.
Cash Cash consists of cash held at banks and is on deposit with major financial institutions.
Investment Transactions and Investment Income Investment transactions are recorded as of the date that the securities are purchased or sold (trade date). Realized gains and losses from the sale or disposition of securities are calculated on the identified cost-method. Dividend income is net of any foreign taxes withheld at source. Certain dividends from foreign securities may be recorded subsequent to the ex-dividend date as soon as the Fund is informed of such dividends. Interest income is recorded on the accrual basis. Distributions received from foreign domiciled corporations, generally determined to be passive foreign investment companies for tax reporting purposes, are included in dividend income.
Tax Information and Dividends and Distributions to Shareholders It is each Fund’s policy to comply with all requirements of the Internal Revenue Code of 1986, as amended (“the Code”). Each Fund intends to qualify for and to elect treatment as a separate Regulated Investment Company (“RIC”) under Subchapter M of the Code. It is the policy of each Fund to pay out dividends from its net investment income, if any, to investors quarterly. Taxable net realized gains from investment transactions, reduced by capital loss carryforwards, if any, are declared and distributed to shareholders at least annually. The capital loss carryforward amount, if any, is available to offset future net capital gains. The Funds may occasionally be required to make supplemental distributions at some other time during the year. The Funds reserve the right to declare special distributions if, in their reasonable discretion, such action is necessary or advisable to preserve the status of each Fund as a RIC or to avoid imposition of income or excise taxes on undistributed income. Dividends and distributions to shareholders, if any, are recorded on the ex-dividend date. The amount of dividends and distributions from net investment income and net realized capital gains are determined in accordance with Federal income tax regulations which may differ from U.S. GAAP. These “book/tax” differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified at the end of the year within the components of net assets based on their federal tax treatment; temporary differences do not require reclassification. Dividends and distributions, which exceed earnings and profits for the full year for tax purposes, are reported as a tax return of capital.
58
DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
In accordance with U.S. GAAP requirements regarding accounting for uncertainties in income taxes, management has analyzed the Funds’ tax positions taken or expected to be taken on foreign, federal and state income tax returns for all open tax years and has concluded that no provision for income tax is required in the Funds’ financial statements.
The Funds recognize interest and penalties, if any, related to uncertain tax positions as income tax expense on the Statements of Operations. For the period ended February 28, 2023, the Funds did not incur any interest or penalties.
At August 31, 2022, for Federal income tax purposes, the Funds have capital loss carryforwards available as shown in the table below, to the extent provided by regulations, to offset future capital gains for an unlimited period. To the extent that these loss carryforwards are used to offset future capital gains, it is probable that the capital gains so offset will not be distributed to shareholders.
Short-Term | Long-Term | Total Amount | ||||||||||
Xtrackers FTSE Developed ex US Multifactor ETF |
$ | 6,499,149 | $ | 7,435,855 | $ | 13,935,004 | ||||||
Xtrackers MSCI Kokusai Equity ETF |
1,443,212 | 1,654,663 | 3,097,875 | |||||||||
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF |
544,474 | 2,982,290 | 3,526,764 | |||||||||
Xtrackers Russell US Multifactor ETF |
21,569,550 | 9,299,551 | 30,869,101 |
As of August 31, 2022, the aggregate cost of investments for federal income tax purposes, the net unrealized appreciation or (depreciation) and the aggregated gross unrealized appreciation (depreciation) on investments were as follows:
Aggregate Tax Cost |
Net Unrealized Appreciation (Depreciation) |
Aggregate Gross Unrealized Appreciation |
Aggregate Gross Unrealized (Depreciation) |
|||||||||||||
Xtrackers FTSE Developed ex US Multifactor ETF |
$ | 73,747,260 | $ | (7,496,327 | ) | $ | 2,838,740 | $ | (10,335,067 | ) | ||||||
Xtrackers MSCI Kokusai Equity ETF |
520,620,894 | (20,097,530 | ) | 30,497,765 | (50,595,295 | ) | ||||||||||
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF |
10,995,190 | 135,111 | 939,496 | (804,385 | ) | |||||||||||
Xtrackers Russell US Multifactor ETF |
137,204,602 | 8,541,343 | 15,009,670 | (6,468,327 | ) |
The tax character of current year distributions will be determined at the end of the current fiscal year.
Foreign Taxes The Funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, capital gains on investments, certain foreign currency transactions or other corporate events. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which the Funds invest. These foreign taxes, if any, are paid by the Funds and are reflected in their Statements of Operations as follows: foreign taxes withheld at source are presented as a reduction of income, foreign taxes on capital gains from sales of investments and foreign currency transactions are included in their respective net realized gain (loss) categories, and deferred foreign taxes on unrealized gains are included in net change in unrealized appreciation (depreciation). Receivables and payables related to foreign taxes as of February 28, 2023, if any, are disclosed in the Funds’ Statements of Assets and Liabilities.
Foreign Currency Translations The books and records of the Funds are maintained in U.S. dollars. Investment securities and other assets and liabilities denominated in a foreign currency are translated into U.S. dollars at the prevailing exchange rates at period end. Purchases and sales of investment securities, income and expenses are translated into U.S. dollars at the prevailing exchange rates on the respective dates of the transactions.
Net realized and unrealized gains and losses on foreign currency transactions represent net gains and losses between trade and settlement dates on securities transactions, the acquisition and disposition of foreign currencies, and the difference between the amount of net investment income accrued and the U.S. dollar amount actually received. The portion of both realized and unrealized gains and losses on investments that results from fluctuations in foreign currency exchange rates is not separately disclosed, but is included with net realized and unrealized gain/appreciation and loss/depreciation on investments.
Securities Lending The Funds may lend securities to certain financial institutions under the terms of their securities lending agreement. During the term of the loans, the Funds continue to receive interest and dividends generated by the securities and to participate in any changes in their market value. The Funds require the
59
DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
borrowers of the securities to maintain collateral with the Funds consisting of cash and/or securities issued or guaranteed by the U.S. Government, its agencies or instrumentalities having a value at least equal to the value of the securities loaned. When the collateral falls below specified amounts, the lending agent will use its best effort to obtain additional collateral on the next business day to meet required amounts under the securities lending agreement. During the period ended February 28, 2023, the Funds invested the cash collateral into a joint trading account in DWS Government & Agency Securities Portfolio, an affiliated money market fund managed by DWS Investment Management Americas, Inc. DWS Investment Management Americas, Inc. receives a management/administration fee (0.07% annualized effective rate as of February 28, 2023) on the cash collateral invested in DWS Government & Agency Securities Portfolio. The Funds receive compensation for lending their securities either in the form of fees or by earning interest on invested cash collateral, net of borrower rebates and fees paid to a lending agent. Either the Fund or the borrower may terminate the loan at any time and the borrower, after notice, is required to return borrowed securities within a standard time period. There may be risks of delay and costs in recovery of securities or even loss of rights in the collateral should the borrower of the securities fail financially. If the Funds are not able to recover securities lent, the Funds may sell the collateral and purchase a replacement investment in the market, incurring the risk that the value of the replacement security is greater than the value of the collateral. The Funds are also subject to all investment risks associated with the reinvestment of any cash collateral received, including, but not limited to, interest rate, credit and liquidity risk associated with such investments.
As of February 28, 2023, the Funds listed below had securities on loan. The value of the related collateral exceeded the value of the securities loaned at period end.
Remaining Contractual Maturity of the Agreements, as of February 28, 2023 |
||||||||||||||||||||
Securities Lending Transactions | Overnight and Continuous |
<30 Days | Between 30 & 90 days |
>90 days | Total | |||||||||||||||
Xtrackers FTSE Developed ex US Multifactor ETF |
| |||||||||||||||||||
Common Stocks |
$ | 914,720 | $ | 23,268 | $ | 11,099 | $ | 995,009 | $ | 1,944,097 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
|
$ | 1,944,097 | |||||||||||||||||
Xtrackers MSCI Kokusai Equity ETF |
| |||||||||||||||||||
Common Stocks |
$ | 1,008,168 | $ | 223,211 | $ | 128,931 | $ | 3,241,964 | $ | 4,602,274 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
|
$ | 4,602,274 | |||||||||||||||||
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF |
| |||||||||||||||||||
Common Stocks |
$ | 11,086 | $ | — | $ | 2,929 | $ | 108,929 | $ | 122,945 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
|
$ | 122,945 | |||||||||||||||||
Xtrackers Russell US Multifactor ETF |
| |||||||||||||||||||
Common Stocks |
$ | 110,355 | $ | — | $ | 66,450 | $ | 1,588,185 | $ | 1,764,990 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
|
$ | 1,764,990 |
Derivatives
Futures Contracts Each Fund may enter into futures contracts. These futures contracts will be used to simulate investment in the respective Underlying Index, to facilitate trading or to reduce transaction costs. Each Fund will enter into futures contracts that are traded on a U.S. or non-U.S. exchange. No Fund will use futures for speculative purposes. Futures contracts provide for the future sale by one party and purchase by another party of a specified amount of a specific instrument or index at a specified future time and at a specified price. For the period ended February 28, 2023, Xtrackers FTSE Developed ex US Multifactor ETF, Xtrackers MSCI Kokusai Equity ETF and Xtrackers Russell US Multifactor ETF utilized futures in order to simulate investment in the Underlying Index. To the extent required by law, liquid assets committed to futures contracts will be maintained.
At the time each Fund enters into a futures contract, each Fund deposits and maintains as collateral an initial margin with the broker, as required by the exchange on which the transaction is affected. Pursuant to the contract, each Fund agrees to receive from or pay to the broker an amount of cash equal to the daily fluctuation in the value of the contract. Such receipts or payments are known as variation margin and are recorded by each
60
DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
Fund as unrealized gains or losses. Risks may arise from the potential inability of a counterparty to meet the terms of the contract. The credit/counterparty risk for exchange-traded futures contracts is generally less than privately negotiated futures contracts, since the clearinghouse, which is the issuer or counterparty to each exchange-traded future, provides a guarantee of performance. The guarantee is supported by a daily payment system (i.e., margin requirements).
Use of long futures contracts subjects each Fund to risk of loss in excess of the amounts shown on the Statement of Assets and Liabilities, up to the notional value of the futures contracts. Use of short futures contracts subjects each Fund to unlimited risk of loss. Under some circumstances, futures exchanges may establish daily limits on the amount that the price of a futures contract can vary from the previous day’s settlement price, which could effectively prevent liquidation of unfavorable positions.
A summary of the open futures contracts as of February 28, 2023 is included in a table following the Funds’ Schedule of Investments.
The following tables summarize the value of the Funds’ derivative instruments held as of February 28, 2023 and the related location in the accompanying Statement of Assets and Liabilities, presented by primary underlying risk exposure:
Asset Derivatives |
Liability Derivatives |
|||||||||||||
Xtrackers FTSE Developed ex US Multifactor ETF |
| |||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | 10,587 | Unrealized depreciation on futures contracts* | $ | — | ||||||||
Xtrackers MSCI Kokusai Equity ETF |
| |||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | 17,938 | Unrealized depreciation on futures contracts* | $ | 17,789 | ||||||||
Xtrackers Russell US Multifactor ETF |
| |||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | 8,840 | Unrealized depreciation on futures contracts* | $ | 2,491 |
* |
Includes cumulative appreciation or cumulative depreciation of futures contracts as disclosed in the Schedule of Investments. Unsettled variation margin is disclosed separately within the Statement of Assets and Liabilities. |
Additionally, the amount of realized and unrealized gains and losses on derivative instruments recognized in the Funds’ earnings during the period ended February 28, 2023 and the related location in the accompanying Statement of Operations is summarized in the following tables by primary underlying risk exposure:
Net Realized Gain (Loss) from: |
||||
Futures Contracts — Equity Contracts |
||||
Xtrackers FTSE Developed ex US Multifactor ETF |
$ | 44,616 | ||
Xtrackers MSCI Kokusai Equity ETF |
(13,124 | ) | ||
Xtrackers Russell US Multifactor ETF |
21,381 |
Net Change in Unrealized Appreciation (Depreciation) on: |
||||
Futures Contracts — Equity Contracts |
||||
Xtrackers FTSE Developed ex US Multifactor ETF |
$ | 15,287 | ||
Xtrackers MSCI Kokusai Equity ETF |
27,708 | |||
Xtrackers Russell US Multifactor ETF |
(14,421 | ) |
For the period ended February 28, 2023 the average monthly volume of derivatives was as follows:
Futures Contracts (Contract Value) |
||||
Xtrackers FTSE Developed ex US Multifactor ETF |
$ | 491,620 | ||
Xtrackers MSCI Kokusai Equity ETF |
3,365,614 | |||
Xtrackers Russell US Multifactor ETF |
575,811 |
61
DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
Affiliated Cash Management Vehicles The Funds may invest uninvested cash balances in DWS Government Money Market Series and DWS ESG Liquidity Fund, affiliated money market funds which are managed by DWS Investment Management Americas, Inc. (“DIMA”), also an indirect, wholly owned subsidiary of DWS Group GmbH & Co. KGaA. Each affiliated money market fund is managed in accordance with Rule 2a-7 under the 1940 Act, which governs the quality, maturity, diversity and liquidity of instruments in which a money market fund may invest. DWS Government Money Market Series seeks to maintain a stable NAV, and DWS ESG Liquidity Fund maintains a floating NAV. The Funds indirectly bear their proportionate share of the expenses of each affiliated money market fund in which they invest. The Advisor will waive an amount of the unitary advisory fee payable to the Advisor by the Funds equal to such acquired fund’s fees and expenses on the Funds’ assets invested in the affiliated money market funds.
3. Investment Advisory and Other Agreements
The Advisor has overall responsibility for the general management and administration of the Funds, subject to the supervision of the Funds’ Board of Trustees. Under an investment advisory agreement between the Trust, on behalf of the Funds, and the Advisor (the “Investment Advisory Agreement”), the Advisor is responsible for arranging sub-advisory, transfer agency, custody, fund administration, and all other non-distribution related services for the Funds to operate.
For its investment advisory services to the Funds below, the Advisor is entitled to receive a unitary advisory fee from each Fund based on each Fund’s average daily net assets, computed and accrued daily and payable monthly, at an annual rate equal to:
Unitary Advisory Fee |
||||
Xtrackers FTSE Developed ex US Multifactor ETF |
0.35 | % | ||
Xtrackers MSCI Kokusai Equity ETF |
0.09 | % | ||
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF |
0.19 | % | ||
Xtrackers Russell US Multifactor ETF |
0.17 | % |
The Advisor for Xtrackers FTSE Developed ex US Multifactor ETF has contractually agreed, until December 21, 2023, to waive a portion of its unitary advisory fee to the extent necessary to prevent the operating expenses of the Fund (excluding interest expense, taxes, brokerage expenses, distribution fees or expenses, litigation expenses and other extraordinary expenses) from exceeding 0.24% of the Fund’s average daily net assets. For the period ended February 28, 2023, the Advisor waived $34,288 of expenses to the Fund.
The Advisor for the Funds below has contractually agreed to waive a portion of its unitary advisory fee in an amount equal to the acquired fund’s fees and expenses attributable to the Funds’ investments in affiliated Funds. For the period ended February 28, 2023, the Advisor waived expenses of the Funds as follows:
Expenses Waived |
||||
Xtrackers FTSE Developed ex US Multifactor ETF |
$ | 38 | ||
Xtrackers MSCI Kokusai Equity ETF |
445 | |||
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF |
81 | |||
Xtrackers Russell US Multifactor ETF |
174 |
Out of the unitary advisory fee, the Advisor pays substantially all expenses of each Fund, including the cost of transfer agency, custody, fund administration, legal, audit and other services, and expenses of the Independent Trustees. Each Fund is responsible for the payment of interest expense, acquired fund fees and expenses, taxes, brokerage expenses, distribution fees or expenses, if any, litigation expenses and extraordinary expenses.
The Bank of New York Mellon, a wholly-owned subsidiary of The Bank of New York Mellon Corporation, serves as Administrator, Custodian, Accounting Agent, Lending Agent and Transfer Agent for each Fund.
ALPS Distributors, Inc. (the “Distributor”) serves as the distributor of Creation Units for each Fund on an agency basis. The Distributor does not maintain a secondary market in shares of the Funds.
62
DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
The Board of Trustees is currently comprised of three Independent Trustees. The Advisor paid retainer fees and attendance fees to each Independent Trustee; retainer fees to the Chairman of the Board of Trustees and Chairman of the Audit Committee; and attendance fees to each member of the Audit Committee (which is comprised of all of the Funds’ Independent Trustees).
4. Investment Portfolio Transactions
For the period ended February 28, 2023, the cost of investments purchased and proceeds from sale of investments (excluding in-kind transactions and short-term investments) were as follows:
Purchases | Sales | |||||||
Xtrackers FTSE Developed ex US Multifactor ETF |
$ | 16,923,038 | $ | 17,036,072 | ||||
Xtrackers MSCI Kokusai Equity ETF |
6,230,738 | 7,548,892 | ||||||
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF |
72,370 | 77,219 | ||||||
Xtrackers Russell US Multifactor ETF |
18,859,386 | 19,032,784 |
For the period ended February 28, 2023, the cost of in-kind purchases and proceeds from in-kind sales were as follows:
Purchases | Sales | |||||||
Xtrackers FTSE Developed ex US Multifactor ETF |
$ | — | $ | 3,345,114 | ||||
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF |
— | 1,715,734 | ||||||
Xtrackers Russell US Multifactor ETF |
26,120,623 | 32,606,634 |
5. Fund Share Transactions
As of February 28, 2023 here were unlimited Fund shares, no par value, authorized by the Trust. Fund shares are issued and redeemed by each Fund only in Creation Units or multiples thereof. Except when aggregated in Creation Units, shares of each Fund are not redeemable. Transactions in capital shares for each Fund are disclosed in detail in the Statements of Changes in Net Assets. The consideration for the purchase of Creation Units of a Fund generally consists of the in-kind contribution of a designated portfolio of securities constituting a portfolio sampling representation of the securities included in the respective Fund’s Underlying Index and an amount of cash, which under certain circumstances may include cash in lieu of portfolio securities. Investors purchasing and redeeming Creation Units pay a purchase transaction fee and a redemption transaction fee to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units.
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DBX ETF Trust
In accordance with Rule 22e-4 (the “Liquidity Rule”) under the Investment Company Act of 1940 (the “1940 Act”), your Fund has adopted a liquidity risk management program (the “Program”), and the Board has designated DBX Advisors LLC (the “Advisor”) as Program administrator. The Program is designed to assess and manage your Fund’s liquidity risk (the risk that the Fund would be unable to meet requests to redeem shares of the Fund without significant dilution of remaining investors’ interests in the Fund). The Advisor has designated a committee (the “Committee”) composed of personnel from multiple departments within an affiliate of the Advisor that is responsible for the implementation and ongoing administration of the Program, which includes assessing the Fund’s liquidity risk under both normal and reasonably foreseeable stressed conditions. Under the Program, every investment held by a Fund is classified on a daily basis into one of four liquidity categories based on estimations of the investment’s ability to be sold during designated timeframes in current market conditions without significantly changing the investment’s market value.
In February 2023, as required by the Program and the Liquidity Rule, the Advisor provided the Board with an annual written report (the “Report”) addressing the operation of the Program and assessing the adequacy and effectiveness of its implementation during the period from December 1, 2021 through November 30, 2022 (the “Reporting Period”). During the Reporting Period, your Fund was primarily invested in highly liquid investments (investments that the Fund anticipates can be converted to cash within three business days or less in current market conditions without significantly changing their market value). As a result, your Fund is not required to adopt, and has not adopted, a “Highly Liquid Investment Minimum” as defined in the Liquidity Rule. During the Reporting Period, your Fund did not approach the 15% limit imposed by the Liquidity Rule on holdings in illiquid investments (investments that cannot be sold or disposed of in seven days or less in current market conditions without the sale of the investment significantly changing the market value of the investment). Your Fund did not experience any issues meeting investor redemptions at any time during the Reporting Period. In the Report, the Advisor stated that it believes the Program has operated adequately and effectively to manage the Fund’s liquidity risk during the Reporting Period. The Advisor also reported that there were no material changes made to the Program during the Reporting Period.
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DBX ETF Trust
Xtrackers FTSE Developed ex US Multifactor ETF, Xtrackers MSCI Kokusai Equity ETF, Xtrackers Russell US Multifactor ETF, and Xtrackers Russell 1000 US Quality at a Reasonable Price ETF
Board Approval of Investment Advisory Agreement with DBX Advisors LLC
After discussions at the meeting of the Board of Trustees (“Board” or “Trustees”) held on February 15-16, 2023 (the “Meeting”), the Trustees, all of whom are the Independent Trustees (those not affiliated with DBX ETF Trust (the “Trust”) or its service providers), unanimously approved the continuance of the Investment Advisory Agreement with respect to Xtrackers FTSE Developed ex US Multifactor ETF, Xtrackers MSCI Kokusai Equity ETF, Xtrackers Russell US Multifactor ETF, and Xtrackers Russell 1000 US Quality at a Reasonable Price ETF, (each a “Fund,” and collectively, the “Funds”). The Independent Trustees were advised throughout the review and Meeting by K&L Gates LLP (“Independent Trustee Counsel”).
Before reaching their decision to approve the Investment Advisory Agreement for another annual period, the Independent Trustees evaluated the materials furnished to them in advance of the Meeting from DBX Advisors LLC (“DBX” or the “Advisor”) for purposes of reviewing the agreement’s terms, including statistical information prepared by Broadridge Financial Solutions Inc. (“Broadridge”) regarding (a) fee and expense information for each Fund (including the fee and expense components and any amounts waived or reimbursed) as compared to a peer group of other exchange-traded funds (“ETFs”) selected pursuant to Broadridge’s proprietary methodology (each, a “Peer Group”) and (b) each Fund’s tracking error as compared to its underlying index over the previous five years (or since inception, if shorter). The Independent Trustees met with representatives of the Advisor on February 13, 2023 to review financial reports and other information provided by the Advisor and inquire further with regard to the financial information provided, and asked questions of the Advisor during this meeting. The Independent Trustees also took into consideration the discussions they had with management before and during the Meeting and among themselves during their Executive Sessions held on February 15 and February 16, 2023.
The Independent Trustees also noted that they had received and should take into consideration a substantial amount of information furnished throughout the year at regular Board meetings, which information included, among other things, an analysis of each Fund’s investment performance, tracking error and related financial information, presentations given by DBX, as well as its periodic reports on brokerage commissions, portfolio execution and other services provided to the Funds.
In reaching its decision to continue in effect the Investment Advisory Agreement for another annual period, the Board considered all factors it believed relevant, including (1) the nature, extent and quality of the services provided to the Funds and their shareholders; (2) the financial resources of DBX and its resulting ability to perform its obligations under the Investment Advisory Agreement; (3) the competitiveness of the advisory fee; (4) the total cost of the services provided by and the profits realized by the Advisor from its relationship with the Funds; (5) the extent to which economies of scale have been realized, and if the Funds’ shareholders have benefitted from those economies; and (6) fall out benefits, if any, enjoyed by the Advisor.
The Board reached a determination, with the assistance of Independent Trustee Counsel and Vedder Price P.C. (“Trust Counsel”) and through the exercise of its business judgment, that approval of the Investment Advisory Agreement and the compensation to be received thereunder is in the best interests of each Fund and its shareholders as well as consistent with the Board’s duties under state and federal law. The Board reached this conclusion based on multiple factors.
The Board considered the following in determining whether to approve the Investment Advisory Agreement:
Nature, Extent and Quality of Services. The Board reviewed in detail the nature, extent and quality of services provided and the risks incurred by the Advisor under the Investment Advisory Agreement. In doing so, the Board considered the information it had received from and the discussions it had with the Advisor continuously during the prior year, in addition to the information the Advisor had provided in response to the Board’s requests prior to the Meeting. The Board considered that these services include, among other things, furnishing a continuous investment program for the Funds, including arranging for, or implementing, the purchase and sale of portfolio securities, the provision of general corporate services such as portfolio management compliance services and the preparation and filing of certain reports on behalf of the Trust. The Board also considered, among other things,
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DBX ETF Trust
Board Considerations in Approval of Investment Advisory
Contracts (Unaudited) (Continued)
the professional experience, qualifications and performance of the senior management and key professional personnel of the Advisor, including portfolio management.
The Board considered that the Advisor provides, at its own expense, office facilities and equipment for use by the Funds and supervisory persons responsible for supervising and monitoring the Trust’s service providers. The Board also considered that the Advisor pays or arranges for the compensation of officers of the Trust who are also officers or employees of the Advisor or one of its DWS Group affiliates, except as may otherwise be determined by the Board. In addition, the Board considered that the Advisor arranges for the provision of transfer agency, custody, fund administration and accounting, and other non-distribution services necessary for the Funds’ operations. The Board also considered that in addition to managing the Funds’ portfolios directly, the Advisor provides oversight of day-to-day operations, including monitoring tracking error, providing services in connection with the creation and redemption of creation units and assistance in meeting legal, compliance and regulatory requirements applicable to the Funds.
The Board considered the information regarding each Fund’s tracking error compared to its underlying index that had been provided by the Advisor and by Broadridge. The Board took note of the detailed information provided by the Advisor throughout the year with respect to each Fund’s tracking error and the sources thereof. The Trustees noted that tracking error for each Fund during the year was in an expected range.
Based on its review, the Board concluded that the nature, extent, and quality of services provided by the Advisor under the Investment Advisory Agreement are reasonable and appropriate in relation to the fees paid to the Advisor, taking special consideration of the fact that the advisory fee is a unitary fee and, as a result, a portion of the unitary advisory fee will be used to compensate the Funds’ service providers. The Board considered the staffing of the Advisor, including the training, qualifications and experience of investment personnel in managing the Funds. The Board also considered the expertise of the Advisor in supervising third party service providers to the Funds, such as the administrator and the custodian, noting the Advisor’s extensive work with these service providers (including onsite due diligence sessions) to conduct such supervision. The Board further considered the compliance program of the Advisor, which supports the Funds’ compliance program.
Advisor’s Financial Resources. In connection with the assessment of the ability of the Advisor to perform its duties under the Investment Advisory Agreement, the Board considered the Advisor’s financial condition and whether it has the resources necessary to carry out its functions. The Board concluded that the Advisor has the financial resources necessary to perform its obligations under the Investment Advisory Agreement.
Reasonableness of Advisory Fee. The Board compared each Fund’s advisory fee and total expenses to those of the other ETFs in its Peer Group. The Board noted that due to the special characteristics of certain Funds, there were limitations faced by Broadridge in providing comparable funds in the Peer Groups and the information in the Broadridge reports accordingly may or may not provide meaningful direct comparisons to the Funds. The Board also noted that the advisory fees and total expenses (after waivers/reimbursements) for many of the Funds were below or equal to the average and/or median of the ETFs in each Fund’s respective Peer Group compiled by Broadridge, but the following Fund had advisory fees and/or total expenses (after waivers/reimbursements) that were above the average and/or median of its respective Peer Group:
— |
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF |
The Board considered, however, the following additional factor in connection with this Fund:
— |
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF’s advisory fees and total expenses were almost equivalent to the average of its Peer Group. |
The Board accordingly noted that each Fund’s fee is competitive with the fees of applicable peer ETFs.
The Board considered that the fee for each of the Funds is a unitary fee pursuant to which the Advisor pays all of the Funds’ costs (subject to certain specified exceptions). The Board considered that each Fund’s fee had been priced to scale when it was established. The Board also considered that each Fund’s portfolio is managed on a day-to-day basis by the Advisor and that the Advisor also provides oversight of day-to-day operations, including monitoring tracking error, providing services in connection with creation and redemption units and assistance in
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DBX ETF Trust
Board Considerations in Approval of Investment Advisory
Contracts (Unaudited) (Continued)
meeting legal and regulatory requirements applicable to the Funds. Based on its review, the Board concluded that the advisory fee for each Fund is reasonable in light of the services provided.
Costs of Services and Profitability. The Board considered the expenses of the Advisor in developing and rendering services provided to the Funds and the information provided by the Advisor to the Board regarding the Funds’ profitability. The Board considered that the Advisor had provided extensive information about the Advisor’s profitability and the Advisor’s methodology in determining profitability. While the Advisor had provided information about the Advisor’s expenses relating to marketing the Funds, the Board considered the Advisor’s profitability without accounting for such expenses. The Board determined that, although only some of the Funds were profitable as of this time, the Advisor’s profitability with respect to each profitable Fund was not excessive. The Board considered whether the Advisor would benefit in other ways from its relationships with the Funds and concluded that there were no material fall-out benefits likely to accrue to the Advisor related to the operation of the Funds.
Economies of Scale. The Board considered that certain Funds had attracted a substantial amount of assets, but determined that those Funds were not experiencing economies of scale beyond what was reflected in each Fund’s unitary fee, which the Board noted was very competitive. The Board considered that the other Funds were not experiencing economies of scale at this time and determined to revisit this matter after the Funds had attracted more assets.
Given all the information available to it and considering all material factors, the Board concluded that the Investment Advisory Agreement was fair and reasonable and it was unanimously approved.
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DBX ETF Trust
Proxy Voting Policies and Procedures
The Funds’ policies and procedures for voting proxies for portfolio securities and information about how each Fund voted proxies related to its portfolio securities during the most recent 12-month period ended June 30 are available on our Web site — www.Xtrackers.com (click on “Resources” and “Proxy Voting” at the top of the page) — or on the SEC’s Web site — www.sec.gov. To obtain a written copy of the Funds’ policies and procedures without charge, upon request, call us toll free at (855) 329-3837.
Portfolio Holdings Information
The Funds are required to file their complete schedule of portfolio holdings with the SEC for their first and third fiscal quarters on Form N-PORT. Copies of the filings are available without charge, upon request on the SEC’s website at www.sec.gov and are available by calling the Trust at 855-329-3837.
Information about each Fund’s portfolio holdings is available daily at www.Xtrackers.com.
Discount & Premium Information
Information regarding how often shares of each Fund traded on NYSE Arca at a price above (i.e., at a premium) or below (i.e., at a discount) the NAV of the Fund can be found at www.Xtrackers.com.
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DBX ETF Trust
This report is intended for the shareholders of the DBX ETF Trust.
This report must be preceded or accompanied by a prospectus.
Investing involves risk, including the possible loss of principal. Stocks may decline in value. Foreign investing involves greater and different risks than investing in U.S. 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. Funds investing in a single industry, country or in a limited geographic region, generally are more volatile than more diversified funds. Investing in derivatives entails special risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility. Because the Funds seek to provide exposure to stocks based on the following multifactors — value, momentum, quality, low volatility and size — it is expected, exposure to such investment factors will detract from performance in some market environments, as more fully explained in the Funds’ prospectus. KOKU is currently non-diversified and can take larger positions in fewer issues, increasing its potential risk. Performance of a Fund may diverge from that of its Underlying Index due to operating expenses, transaction costs, cash flows, use of sampling strategies or operational inefficiencies. 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 prospectus for more information.
War, terrorism, sanctions, economic uncertainty, trade disputes, public health crises, natural disasters, climate change and related geopolitical events have led, and, in the future, may lead to significant disruptions in U.S. and world economies and markets, which may lead to increased market volatility and may have significant adverse effects on the Funds and their investments.
Shares of the Funds are bought and sold at market price (not NAV) throughout the day on the NYSE Arca, Inc. Transactions in Fund shares may result in brokerage commissions and may generate tax consequences. There can be no assurance that an active trading market for shares of a Fund will develop or be maintained.
DBX ETF Trust Funds are distributed by ALPS Distributors, Inc. (“ALPS”). The Funds are managed by DBX Advisors LLC which is not affiliated with ALPS.
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.
DEEF, DEUS and QARP have been developed solely by DBX Advisors LLC. The Funds are not in any way connected to or sponsored, endorsed, issued, sold or promoted by the London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). FTSE Russell is a trading name of certain of the LSE Group companies.
All rights in the FTSE Developed ex US Comprehensive Factor Index, Russell 1000 Comprehensive Factor Index and Russell 1000 2Qual/Val 5% Capped Factor Index vest in the relevant LSE Group company which owns the Indexes. “FTSE®” “Russell®” and “FTSE Russell®” are a trademarks of the relevant LSE Group company and are used by any other LSE Group company under license.
The Index is calculated by or on behalf of FTSE International Limited or its affiliate, agent or partner. The LSE Group does not accept any liability whatsoever to any person arising out of (a) the use of, reliance on or any error in the Index or (b) investment in or operation of the Funds. The LSE Group makes no claim, prediction, warranty or representation either as to the results to be obtained from the Funds or the suitability of the Indexes for the purpose to which it is being put by DBX Advisors LLC.
KOKU is not sponsored, endorsed, issued, sold or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The Prospectus contains a more detailed description of the limited relationship MSCI has with DBX Advisors LLC and any related funds.
Copyright © 2023 DWS Group. All rights reserved. XtrackersTM is a trademark of DWS Investment GmbH. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
Not FDIC Insured | No Bank Guarantee | May Lose Value
DBX ETF Trust
Investment advisor DBX Advisors LLC 875 Third Avenue New York, NY 10022 |
Administrator, custodian, fund accounting agent, lending agent & transfer agent The Bank of New York Mellon 240 Greenwich Street New York, NY 10286 |
Distributor ALPS Distributors, Inc. 1290 Broadway Suite 1000 Denver, CO 80203 | ||
Independent registered public accounting firm Ernst & Young LLP One Manhattan West New York, NY 10001 |
Legal counsel Vedder Price P.C. 1633 Broadway New York, NY |
R-045855-8 (4/23) DBX005475 (4/24)