August 31, 2023
Annual Report
DBX ETF Trust
Xtrackers S&P 500 ESG ETF (SNPE)
Xtrackers S&P 500 Growth ESG ETF (SNPG)
Xtrackers S&P 500 Value ESG ETF (SNPV)
Xtrackers S&P ESG Dividend Aristocrats ETF (SNPD)
Xtrackers S&P MidCap 400 ESG ETF (MIDE)
Xtrackers S&P SmallCap 600 ESG ETF (SMLE)
DBX ETF Trust
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To our Shareholders: (Unaudited)
We are pleased to provide this annual report on six of our equity ETFs tracking the environmental, social and governance (ESG) market for the period ended August 31, 2023.
The global economy faced several headwinds resulting from high inflation, rising interest rates, and increased economic and geopolitical unpredictability. The U.S. Federal Reserve (Fed) and other major central banks, except for the Bank of Japan, raised interest rates in response to elevated inflation that wiped out real incomes in both developed and developing countries. By February 2023, Russia’s invasion of Ukraine had lasted a year and no meaningful steps had been taken to resolve the crisis. The global financial markets have largely remained stable despite the turmoil in the U.S. and European banking sectors. The U.S. labor market performed reasonably well, with the unemployment rate remaining constant and wage growth slowing. As soon as China began trading after the COVID-19-related restrictions were lifted, the mood of the global markets improved. However, worries that U.S. interest rates will continue to climb for a while and China’s economic slowdown because of the worsening real estate crisis, had a negative influence on investor sentiment.
The U.S. economy maintained its growth trajectory as inflation moderated and productivity increased. Markets saw little instability despite the banking crisis in Europe and the U.S. as the Fed assured depositors their money would be safe at Silicon Valley Bank and Signature Bank. U.S. equity markets recovered on encouraging economic data that pointed to the country’s economic growth, while investor optimism strengthened as industrial activity improved and jobless claims decreased. Equity markets exhibited resilience, supported by factors such as stronger-than-expected U.S. economic data, a resolution of the U.S. debt ceiling issue, and policy support in China and Japan. During the latter half of the reporting period, stocks rallied, driven by gains in the information technology sector, as the hype around artificial intelligence (AI) and large language models (LLMs) and their prospects became a hot topic.
In the U.S., the transition of ESG disclosure from voluntary reporting to a regulatory-driven program is currently underway, reflecting the Securities and Exchange Commission’s delayed disclosure requirements for public companies. Contrast that with the European Union, which has enacted explicit directives on ESG, and the U.K., where the Financial Conduct Authority has made it mandatory for listed firms to disclose information about the environment. The Biden administration and new state legislation have all spearheaded a flurry of ESG efforts and ideas that have transformed the U.S. regulatory environment. ESG-focused investments outperformed the broader market amid a volatile macroeconomic backdrop. The COP27 summit in November 2022 resulted in a global climate agreement. To reduce carbon emissions in the U.S. by around 40% by 2030, the Biden administration passed the Inflation Reduction Act, providing billions of dollars of federal funding delivered through a mix of tax incentives, grants and loan guarantees.
Our analysts believe that investor preference will generally continue to shift toward net zero, along with increased demand for disclosures, and global sustainability standards are expected to broaden in scope during 2023 and beyond. Even if concerns surrounding high inflation, Fed rate hikes, and tougher lending rules exist, we maintain a positive outlook on global stocks, as they have returned to a more favorable environment. We anticipate the equity markets to exhibit resilience despite the possibility of volatility in the upcoming months. While mega-cap, technology, and AI- related equities saw large returns in H1 2023, a more upbeat narrative of a global economic recovery with inflation more under control may surface in H2 2023. Given deteriorating climate conditions and large tax incentives, we expect green investment capital flows to continue growing despite the market’s shift toward growth equities.
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
Xtrackers S&P 500 ESG ETF
Xtrackers S&P 500 ESG ETF (SNPE), seeks investment results that correspond generally to the performance, before fees and expenses, of the S&P 500 ESG Index (the SNPE Index). The SNPE Index is a broad-based, market capitalization weighted index that is designed to measure the performance of companies meeting environmental, social and governance (“ESG”) criteria, while maintaining similar overall industry group weights as the S&P 500 Index. For the period ended August 31, 2023, SNPE shares returned 17.99%, compared to the SNPE Index return of 18.12%.
The majority of sectors contributed positively to performance during the period with the greatest contributions coming from Information Technology, Consumer Discretionary and Industrials. The Utilities and Real Estate sectors were the only negative contributors to performance.
Xtrackers S&P 500 Growth ESG ETF
Xtrackers S&P 500 Growth ESG ETF (SNPG) seeks investment results that correspond generally to the performance, before fees and expenses, of the S&P 500 Growth ESG Index (the SNPG Index). The SNPG Index is a broad-based, market capitalization weighted index that provides exposure to companies with high environmental, social and governance (“ESG”) performance relative to their sector peers, while maintaining similar overall industry group weights as the S&P 500 Growth Index. For the period November 9, 2022 (commencement of operations), to August 31, 2023, SNPG shares returned 32.23%, compared to the SNPG Index return of 32.41%.
The majority of sectors contributed positively to performance during the period with the greatest contributions coming from Information Technology, Consumer Discretionary and Communication Services. The Energy and Utilities sectors were the only negative contributors to performance.
Xtrackers S&P 500 Value ESG ETF
Xtrackers S&P 500 Value ESG ETF (SNPV) seeks investment results that correspond generally to the performance, before fees and expenses, of the S&P 500 Value ESG Index (the SNPV Index). The SNPV Index is a broad-based, market capitalization weighted index that provides exposure to companies with high environmental, social and governance (“ESG”) performance relative to their sector peers, while maintaining similar overall industry group weights as the S&P 500 Value Index. For the period November 9, 2022 (commencement of operations), to August 31, 2023, SNPV shares returned 7.91%, compared to the SNPV Index return of 8.05%.
Information Technology, Industrials and Consumer Discretionary were the major positive contributors, while Financials, Energy and Health Care sectors detracted most from the performance.
Xtrackers S&P ESG Dividend Aristocrats ETF
Xtrackers S&P ESG Dividend Aristocrats ETF (SNPD) seeks investment results that correspond generally to the performance, before fees and expenses, of the S&P ESG High Yield Dividend Aristocrats Index (the SNPD Index). The SNPD Index is designed to measure the performance of constituents from the S&P High Yield Dividend Aristocrats Index that meet certain environmental, social and governance (“ESG”) criteria. The S&P High Yield Dividend Aristocrats Index measures the performance of companies within the S&P Composite 1500 Index that have followed a policy of consistently increasing dividends every year for at least 20 years. For the period November 9, 2022 (commencement of operations), to August 31, 2023, SNPD shares returned 1.99%, compared to the SNPD Index return of 2.10%.
Industrials, Information Technology and Health Care were the major positive contributors, while Consumer Staples, Consumer Discretionary and Utilities sectors detracted most from the performance.
Xtrackers S&P MidCap 400 ESG ETF
Xtrackers S&P MidCap 400 ESG ETF (MIDE), seeks investment results that correspond generally to the performance, before fees and expenses, of the S&P MidCap 400 ESG Index (the MIDE Index). The MIDE Index is a broad-based, market capitalization weighted index that is designed to measure the performance of securities meeting environmental, social and governance (“ESG”) criteria, while maintaining similar overall industry group weights as the S&P MidCap 400 Index. For the period ending August 31, 2023, MIDE shares returned 10.18%, compared to the MIDE Index return of 10.39%.
2
DBX ETF Trust
Management’s Discussion of Fund Performance (Continued)
The majority of sectors contributed positively to performance during the period with the greatest contributions coming from Industrials, Consumer Discretionary and Information Technology. The Utilities, Real Estate and Communication Services sectors detracted from performance.
Xtrackers S&P SmallCap 600 ESG ETF
Xtrackers S&P SmallCap 600 ESG ETF (SMLE), seeks investment results that correspond generally to the performance, before fees and expenses, of the S&P SmallCap 600 ESG Index (the SMLE Index). The SMLE Index is a broad-based, market capitalization weighted index that is designed to measure the performance of securities meeting environmental, social and governance (ESG) criteria, while maintaining similar overall industry group weights as the S&P SmallCap 600 Index. For the period ending August 31, 2023, SMLE shares returned 5.95%, compared to the SMLE Index return of 6.09%.
Information Technology, Industrials and Consumer Discretionary were the major positive contributors, while Financials, Health Care and Real Estate sectors detracted most from the performance.
*************************
Performance data quoted represents past performance and does not guarantee future results. Investment returns and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. To obtain the most recent month-end performance data visit www.Xtrackers.com. Returns assume that dividends and capital gains distributions have been reinvested. See pages 4-15 of this report for additional performance information, including performance data based on market value.
The views expressed in this report reflect those of the portfolio management team only through the end of the period of the report as stated on the cover. The management team’s views are subject to change at any time based on market and other conditions and should not be construed as a recommendation. Current and future portfolio holdings are subject to risk.
3
DBX ETF Trust
Xtrackers S&P 500 ESG ETF (SNPE)
Xtrackers S&P 500 ESG 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 S&P 500 ESG Index (the “Underlying Index”). The Underlying Index is a broad-based, market capitalization weighted index that is designed to measure the performance of companies meeting environmental, social and governance (ESG) criteria, while maintaining similar overall industry group weights as the S&P 500 Index. It is not possible to invest directly into an index.
| Performance as of August 31, 2023 |
| Average Annual Total Return | ||||||||
| Net Asset Value | Market Value | S&P 500 ESG Index | S&P 500 Index | |||||
|
One Year |
17.99% | 18.02% | 18.12% | 15.94% | ||||
|
Since Inception1 |
14.57% | 14.57% | 14.68% | 12.83% | ||||
| Cumulative Total Returns | ||||||||
| Net Asset Value | Market Value | S&P 500 ESG Index | S&P 500 Index | |||||
|
One Year |
17.99% | 18.02% | 18.12% | 15.94% | ||||
|
Since Inception1 |
76.65% | 76.69% | 77.46% | 65.75% | ||||
1 Total returns are calculated based on the commencement of operations, June 26, 2019 (“Inception”).
Past performance is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available at www.Xtrackers.com. Performance results assume reinvestment of all dividends and capital gain distributions and do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the sale of fund shares or redemption of fund creation units. The investment return and principal value of shares will vary with changes in market conditions. Shares may be worth more or less than their original cost when they are sold in the market or redeemed. Performance for certain funds may reflect a waiver of a portion of the unitary advisory fee. Without such waiver, performance would have been lower. The gross expense ratio of the Fund, as stated in the fee table of the prospectus dated December 22, 2022, was 0.11%, and may differ from the expense ratio disclosed in the Financial Highlights table in this report.
The Fund’s net asset value or “NAV” is calculated by dividing the value of the Fund’s total assets less total liabilities by the number of shares outstanding. The price used to calculate market return (“Market Price”) is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which shares of a fund are listed for trading, as of the time that such fund’s NAV is calculated. Since shares of a fund may not have traded in the secondary market until after the fund’s inception, for the period from inception to the first day of secondary trading, the NAV of the fund is used as a proxy for the Market Price to calculate market returns. Market and NAV returns assume that dividends and capital gain distributions have been reinvested at Market Price and NAV, respectively.
An index is a statistical composite that tracks a specified financial market or sector. Unlike a fund, an index does not actually hold a portfolio of securities and therefore does not incur the expenses incurred by a fund. These expenses negatively impact fund performance. Also, market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, market returns would be lower.
Generally accepted accounting principles require adjustments to be made to the net assets of the Fund at period end for financial reporting purposes only, and as such, the total return based on the unadjusted net asset value per share may differ from the total return reported in the financial highlights.
4
DBX ETF Trust
Performance Summary (Unaudited)
Xtrackers S&P 500 ESG ETF (SNPE) (Continued)
| Growth of an Assumed $10,000 Investment |
1 Based on Net Asset Value from commencement of operations, June 26, 2019.
| Sector Diversification* as of August 31, 2023 |
|
Information Technology |
30.8% | |||
|
Health Care |
13.2% | |||
|
Financials |
12.1% | |||
|
Consumer Discretionary |
12.1% | |||
|
Communication Services |
8.7% | |||
|
Industrials |
6.8% | |||
|
Consumer Staples |
6.3% | |||
|
Energy |
3.9% | |||
|
Real Estate |
2.4% | |||
|
Materials |
2.3% | |||
|
Utilities |
1.4% | |||
|
|
|
|||
|
Total |
100.0% |
| Ten Largest
Equity Holdings as of August 31, 2023 (40.5% of Net Assets) |
| Description | % of Net Assets | |||
|
Apple, Inc. |
9.7% | |||
|
Microsoft Corp. |
8.5% | |||
|
Alphabet, Inc. |
5.3% | |||
|
Amazon.com, Inc. |
4.3% | |||
|
NVIDIA Corp. |
4.3% | |||
|
Tesla, Inc. |
2.4% | |||
|
UnitedHealth Group, Inc. |
1.6% | |||
|
Eli Lilly & Co. |
1.5% | |||
|
JPMorgan Chase & Co. |
1.5% | |||
|
Visa, Inc. |
1.4% | |||
* As a percent of total investments excluding cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 17.
5
DBX ETF Trust
Performance Summary (Unaudited)
Xtrackers S&P Growth ESG ETF (SNPG)
Xtrackers S&P 500 Growth ESG 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 S&P 500 Growth ESG Index (the “Underlying Index”). The Underlying Index is a broad-based, market capitalization weighted index that provides exposure to companies with high environmental, social and governance (“ESG”) performance relative to their sector peers, while maintaining similar overall industry group weights as the S&P 500 Growth Index. It is not possible to invest directly into an index.
| Performance as of August 31, 2023 |
| Cumulative Total Returns | ||||||||
| Net Asset Value | Market Value | S&P 500 Growth ESG Index |
S&P 500 Index | |||||
|
Since Inception1 |
32.23% | 32.23% | 32.41% | 19.45% | ||||
1 Total returns are calculated based on the commencement of operations, November 9, 2022 (“Inception”).
Past performance is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available at www.Xtrackers.com. Performance results assume reinvestment of all dividends and capital gain distributions and do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the sale of fund shares or redemption of fund creation units. The investment return and principal value of shares will vary with changes in market conditions. Shares may be worth more or less than their original cost when they are sold in the market or redeemed. Performance for certain funds may reflect a waiver of a portion of the unitary advisory fee. Without such waiver, performance would have been lower. The gross expense ratio of the Fund, as stated in the fee table of the prospectus dated October 11, 2022, was 0.15%, and may differ from the expense ratio disclosed in the Financial Highlights table in this report.
The Fund’s net asset value or “NAV” is calculated by dividing the value of the Fund’s total assets less total liabilities by the number of shares outstanding. The price used to calculate market return (“Market Price”) is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which shares of a fund are listed for trading, as of the time that such fund’s NAV is calculated. Since shares of a fund may not have traded in the secondary market until after the fund’s inception, for the period from inception to the first day of secondary trading, the NAV of the fund is used as a proxy for the Market Price to calculate market returns. Market and NAV returns assume that dividends and capital gain distributions have been reinvested at Market Price and NAV, respectively.
An index is a statistical composite that tracks a specified financial market or sector. Unlike a fund, an index does not actually hold a portfolio of securities and therefore does not incur the expenses incurred by a fund. These expenses negatively impact fund performance. Also, market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, market returns would be lower.
Generally accepted accounting principles require adjustments to be made to the net assets of the Fund at period end for financial reporting purposes only, and as such, the total return based on the unadjusted net asset value per share may differ from the total return reported in the financial highlights.
6
DBX ETF Trust
Performance Summary (Unaudited)
Xtrackers S&P Growth ESG ETF (SNPG) (Continued)
| Growth of an Assumed $10,000 Investment |
1 Based on Net Asset Value from commencement of operations, November 9, 2022.
| Sector Diversification* as of August 31, 2023 |
|
Information Technology |
31.3% | |||
|
Health Care |
17.0% | |||
|
Consumer Discretionary |
12.1% | |||
|
Communication Services |
10.2% | |||
|
Energy |
8.3% | |||
|
Financials |
7.3% | |||
|
Consumer Staples |
6.8% | |||
|
Industrials |
4.2% | |||
|
Materials |
2.0% | |||
|
Real Estate |
0.6% | |||
|
Utilities |
0.2% | |||
|
|
|
|||
|
Total |
100.0% |
| Ten Largest
Equity Holdings as of August 31, 2023 (54.1% of Net Assets) |
| Description | % of Net Assets | |||
|
Alphabet, Inc. |
9.8% | |||
|
Apple, Inc. |
8.6% | |||
|
Microsoft Corp. |
8.3% | |||
|
NVIDIA Corp. |
8.0% | |||
|
Tesla, Inc. |
4.5% | |||
|
Amazon.com, Inc. |
3.7% | |||
|
Exxon Mobil Corp. |
2.9% | |||
|
UnitedHealth Group, Inc. |
2.9% | |||
|
Eli Lilly & Co. |
2.8% | |||
|
Visa, Inc. |
2.6% | |||
* As a percent of total investments excluding exchange-traded funds and cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 22.
7
DBX ETF Trust
Performance Summary (Unaudited)
Xtrackers S&P Value ESG ETF (SNPV)
Xtrackers S&P 500 Value ESG 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 S&P 500 Value ESG Index (the “Underlying Index”). The Underlying Index is a broad-based, market capitalization weighted index that provides exposure to companies with high environmental, social and governance (“ESG”) performance relative to their sector peers, while maintaining similar overall industry group weights as the S&P 500 Value Index. It is not possible to invest directly into an index.
| Performance as of August 31, 2023 |
| Cumulative Total Returns | ||||||||
| Net Asset Value | Market Value | S&P 500 Value ESG Index |
S&P 500 Index | |||||
|
Since Inception1 |
7.91% | 7.91% | 8.05% | 19.45% | ||||
1 Total returns are calculated based on the commencement of operations, November 9, 2022 (“Inception”).
Past performance is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available at www.Xtrackers.com. Performance results assume reinvestment of all dividends and capital gain distributions and do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the sale of fund shares or redemption of fund creation units. The investment return and principal value of shares will vary with changes in market conditions. Shares may be worth more or less than their original cost when they are sold in the market or redeemed. Performance for certain funds may reflect a waiver of a portion of the unitary advisory fee. Without such waiver, performance would have been lower. The gross expense ratio of the Fund, as stated in the fee table of the prospectus dated October 11, 2022, was 0.15%, and may differ from the expense ratio disclosed in the Financial Highlights table in this report.
The Fund’s net asset value or “NAV” is calculated by dividing the value of the Fund’s total assets less total liabilities by the number of shares outstanding. The price used to calculate market return (“Market Price”) is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which shares of a fund are listed for trading, as of the time that such fund’s NAV is calculated. Since shares of a fund may not have traded in the secondary market until after the fund’s inception, for the period from inception to the first day of secondary trading, the NAV of the fund is used as a proxy for the Market Price to calculate market returns. Market and NAV returns assume that dividends and capital gain distributions have been reinvested at Market Price and NAV, respectively.
An index is a statistical composite that tracks a specified financial market or sector. Unlike a fund, an index does not actually hold a portfolio of securities and therefore does not incur the expenses incurred by a fund. These expenses negatively impact fund performance. Also, market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, market returns would be lower.
Generally accepted accounting principles require adjustments to be made to the net assets of the Fund at period end for financial reporting purposes only, and as such, the total return based on the unadjusted net asset value per share may differ from the total return reported in the financial highlights.
8
DBX ETF Trust
Performance Summary (Unaudited)
Xtrackers S&P Value ESG ETF (SNPV) (Continued)
| Growth of an Assumed $10,000 Investment |
1 Based on Net Asset Value from commencement of operations, November 9, 2022.
| Sector Diversification* as of August 31, 2023 |
|
Information Technology |
19.8% | |||
|
Financials |
19.1% | |||
|
Consumer Discretionary |
12.9% | |||
|
Industrials |
10.9% | |||
|
Health Care |
8.5% | |||
|
Communication Services |
8.2% | |||
|
Consumer Staples |
7.5% | |||
|
Real Estate |
4.9% | |||
|
Materials |
3.2% | |||
|
Utilities |
3.1% | |||
|
Energy |
1.9% | |||
|
|
|
|||
|
Total |
100.0% |
| Ten Largest
Equity Holdings as of August 31, 2023 (29.9% of Net Assets) |
| Description | % of Net Assets | |||
|
Microsoft Corp. |
8.6% | |||
|
Amazon.com, Inc. |
5.6% | |||
|
JPMorgan Chase & Co. |
3.6% | |||
|
Cisco Systems, Inc. |
2.0% | |||
|
Walmart, Inc. |
1.9% | |||
|
Salesforce, Inc. |
1.8% | |||
|
Bank of America Corp. |
1.7% | |||
|
Comcast Corp. |
1.7% | |||
|
Netflix, Inc. |
1.6% | |||
|
Procter & Gamble Co. |
1.4% | |||
* As a percent of total investments excluding exchange-traded funds and cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 25.
9
DBX ETF Trust
Performance Summary (Unaudited)
Xtrackers S&P ESG Dividend Aristocrats ETF (SNPD)
Xtrackers S&P ESG Dividend Aristocrats 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 S&P ESG High Yield Dividend Aristocrats Index (the “Underlying Index”). The Underlying Index is designed to measure the performance of constituents from the S&P High Yield Dividend Aristocrats Index that meet certain environmental, social and governance (“ESG”) criteria. The S&P High Yield Dividend Aristocrats Index measures the performance of companies within the S&P Composite 1500 Index that have followed a policy of consistently increasing dividends every year for at least 20 years. It is not possible to invest directly into an index.
| Performance as of August 31, 2023 |
| Cumulative Total Returns | ||||||||
| Net Asset Value | Market Value | S&P ESG High Yield Dividend Aristocrats Index |
S&P Composite 1500 Index | |||||
|
Since Inception1 |
1.99% | 2.03% | 2.10% | 18.55% | ||||
1 Total returns are calculated based on the commencement of operations, November 9, 2022 (“Inception”).
Past performance is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available at www.Xtrackers.com. Performance results assume reinvestment of all dividends and capital gain distributions and do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the sale of fund shares or redemption of fund creation units. The investment return and principal value of shares will vary with changes in market conditions. Shares may be worth more or less than their original cost when they are sold in the market or redeemed. Performance for certain funds may reflect a waiver of a portion of the unitary advisory fee. Without such waiver, performance would have been lower. The gross expense ratio of the Fund, as stated in the fee table of the prospectus dated October 24, 2022, was 0.15%, and may differ from the expense ratio disclosed in the Financial Highlights table in this report.
The Fund’s net asset value or “NAV” is calculated by dividing the value of the Fund’s total assets less total liabilities by the number of shares outstanding. The price used to calculate market return (“Market Price”) is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which shares of a fund are listed for trading, as of the time that such fund’s NAV is calculated. Since shares of a fund may not have traded in the secondary market until after the fund’s inception, for the period from inception to the first day of secondary trading, the NAV of the fund is used as a proxy for the Market Price to calculate market returns. Market and NAV returns assume that dividends and capital gain distributions have been reinvested at Market Price and NAV, respectively.
An index is a statistical composite that tracks a specified financial market or sector. Unlike a fund, an index does not actually hold a portfolio of securities and therefore does not incur the expenses incurred by a fund. These expenses negatively impact fund performance. Also, market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, market returns would be lower.
Generally accepted accounting principles require adjustments to be made to the net assets of the Fund at period end for financial reporting purposes only, and as such, the total return based on the unadjusted net asset value per share may differ from the total return reported in the financial highlights.
10
DBX ETF Trust
Performance Summary (Unaudited)
Xtrackers S&P ESG Dividend Aristocrats ETF (SNPD) (Continued)
| Growth of an Assumed $10,000 Investment |
1 Based on Net Asset Value from commencement of operations, November 9, 2022.
| Sector Diversification* as of August 31, 2023 |
|
Consumer Staples |
21.1% | |||
|
Industrials |
21.1% | |||
|
Materials |
12.6% | |||
|
Financials |
11.3% | |||
|
Health Care |
7.5% | |||
|
Consumer Discretionary |
7.1% | |||
|
Utilities |
5.6% | |||
|
Information Technology |
5.2% | |||
|
Real Estate |
4.6% | |||
|
Energy |
3.4% | |||
|
Communication Services |
0.5% | |||
|
|
|
|||
|
Total |
100.0% |
| Ten Largest
Equity Holdings as of August 31, 2023 (22.1% of Net Assets) |
| Description | % of Net Assets | |||
|
International Business Machines Corp. |
2.8% | |||
|
Stanley Black & Decker, Inc. |
2.6% | |||
|
Essex Property Trust, Inc. |
2.5% | |||
|
T. Rowe Price Group, Inc. |
2.2% | |||
|
Federal Realty Investment Trust |
2.1% | |||
|
Franklin Resources, Inc. |
2.1% | |||
|
Amcor PLC |
2.0% | |||
|
Walgreens Boots Alliance, Inc. |
2.0% | |||
|
AbbVie, Inc. |
1.9% | |||
|
Medtronic PLC |
1.9% | |||
* As a percent of total investments excluding exchange-traded funds and cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 29.
11
DBX ETF Trust
Performance Summary (Unaudited)
Xtrackers S&P MidCap 400 ESG ETF (MIDE)
Xtrackers S&P MidCap 400 ESG 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 S&P MidCap 400 ESG Index (the “Underlying Index”). The Underlying Index is a broad-based, market capitalization weighted index that is designed to measure the performance of companies meeting environmental, social and governance (ESG) criteria, while maintaining similar overall industry group weights as the S&P MidCap 400 Index. It is not possible to invest directly into an index.
| Average Annual Total Return | ||||||||
| Net Asset Value | Market Value | S&P MidCap 400 ESG Index |
S&P MidCap 400 Index | |||||
|
One Year |
10.18% | 10.18% | 10.39% | 10.71% | ||||
|
Since Inception1 |
3.64% | 3.64% | 3.81% | 3.35% | ||||
| Cumulative Total Returns | ||||||||
| Net Asset Value | Market Value | S&P MidCap 400 ESG Index |
S&P MidCap 400 Index | |||||
|
One Year |
10.18% | 10.18% | 10.39% | 10.71% | ||||
|
Since Inception1 |
9.43% | 9.43% | 9.88% | 8.64% | ||||
1 Total returns are calculated based on the commencement of operations, February 24, 2021 (“Inception”).
Past performance is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available at www.Xtrackers.com. Performance results assume reinvestment of all dividends and capital gain distributions and do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the sale of fund shares or redemption of fund creation units. The investment return and principal value of shares will vary with changes in market conditions. Shares may be worth more or less than their original cost when they are sold in the market or redeemed. Performance for certain funds may reflect a waiver of a portion of the unitary advisory fee. Without such waiver, performance would have been lower. The gross expense ratio of the Fund, as stated in the fee table of the prospectus dated December 22, 2022, was 0.15%, and may differ from the expense ratio disclosed in the Financial Highlights table in this report.
The Fund’s net asset value or “NAV” is calculated by dividing the value of the Fund’s total assets less total liabilities by the number of shares outstanding. The price used to calculate market return (“Market Price”) is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which shares of a fund are listed for trading, as of the time that such fund’s NAV is calculated. Since shares of a fund may not have traded in the secondary market until after the fund’s inception, for the period from inception to the first day of secondary trading, the NAV of the fund is used as a proxy for the Market Price to calculate market returns. Market and NAV returns assume that dividends and capital gain distributions have been reinvested at Market Price and NAV, respectively.
An index is a statistical composite that tracks a specified financial market or sector. Unlike a fund, an index does not actually hold a portfolio of securities and therefore does not incur the expenses incurred by a fund. These expenses negatively impact fund performance. Also, market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, market returns would be lower.
Generally accepted accounting principles require adjustments to be made to the net assets of the Fund at period end for financial reporting purposes only, and as such, the total return based on the unadjusted net asset value per share may differ from the total return reported in the financial highlights.
12
DBX ETF Trust
Performance Summary (Unaudited)
Xtrackers S&P MidCap 400 ESG ETF (MIDE) (Continued)
| Growth of an Assumed $10,000 Investment |
1 Based on Net Asset Value from commencement of operations, February 24, 2021.
| Sector Diversification* as of August 31, 2023 |
|
Industrials |
22.8% | |||
|
Consumer Discretionary |
16.1% | |||
|
Financials |
15.2% | |||
|
Health Care |
10.4% | |||
|
Information Technology |
10.1% | |||
|
Real Estate |
7.0% | |||
|
Materials |
6.6% | |||
|
Energy |
4.4% | |||
|
Consumer Staples |
3.8% | |||
|
Communication Services |
1.9% | |||
|
Utilities |
1.7% | |||
|
|
|
|||
|
Total |
100.0% |
| Ten Largest
Equity Holdings as of August 31, 2023 (8.6 of Net Assets) |
| Description | % of Net Assets | |||
|
Hubbell, Inc. |
1.1% | |||
|
Jabil, Inc. |
1.0% | |||
|
Deckers Outdoor Corp. |
0.9% | |||
|
Carlisle Cos., Inc. |
0.9% | |||
|
Owens Corning |
0.8% | |||
|
RPM International, Inc. |
0.8% | |||
|
Manhattan Associates, Inc. |
0.8% | |||
|
AECOM |
0.8% | |||
|
Lennox International, Inc. |
0.8% | |||
|
Saia, Inc. |
0.7% | |||
* 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 31.
13
DBX ETF Trust
Performance Summary (Unaudited)
Xtrackers S&P SmallCap 600 ESG ETF (SMLE)
Xtrackers S&P SmallCap 600 ESG 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 S&P SmallCap 600 ESG Index (the “Underlying Index”). The Underlying Index is a broad-based, market capitalization weighted index that is designed to measure the performance of companies meeting environmental, social and governance (ESG) criteria, while maintaining similar overall industry group weights as the S&P SmallCap 600 Index. It is not possible to invest directly into an index.
| Performance as of August 31, 2023 |
| Average Annual Total Return | ||||||||
| Net Asset Value | Market Value | S&P SmallCap 600 ESG Index |
S&P SmallCap 600 Index | |||||
|
One Year |
5.95% | 5.82% | 6.09% | 5.53% | ||||
|
Since Inception1 |
0.61% | 0.58% | 0.76% | -0.41% | ||||
| Cumulative Total Returns | ||||||||
| Net Asset Value | Market Value | S&P SmallCap 600 ESG Index |
S&P SmallCap 600 Index | |||||
|
One Year |
5.95% | 5.82% | 6.09% | 5.53% | ||||
|
Since Inception1 |
1.55% | 1.47% | 1.94% | -1.02% | ||||
1 Total returns are calculated based on the commencement of operations, February 24, 2021 (“Inception”).
Past performance is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available at www.Xtrackers.com. Performance results assume reinvestment of all dividends and capital gain distributions and do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the sale of fund shares or redemption of fund creation units. The investment return and principal value of shares will vary with changes in market conditions. Shares may be worth more or less than their original cost when they are sold in the market or redeemed. Performance for certain funds may reflect a waiver of a portion of the unitary advisory fee. Without such waiver, performance would have been lower. The gross expense ratio of the Fund, as stated in the fee table of the prospectus dated December 22, 2022, was 0.15%, and may differ from the expense ratio disclosed in the Financial Highlights table in this report.
The Fund’s net asset value or “NAV” is calculated by dividing the value of the Fund’s total assets less total liabilities by the number of shares outstanding. The price used to calculate market return (“Market Price”) is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which shares of a fund are listed for trading, as of the time that such fund’s NAV is calculated. Since shares of a fund may not have traded in the secondary market until after the fund’s inception, for the period from inception to the first day of secondary trading, the NAV of the fund is used as a proxy for the Market Price to calculate market returns. Market and NAV returns assume that dividends and capital gain distributions have been reinvested at Market Price and NAV, respectively.
An index is a statistical composite that tracks a specified financial market or sector. Unlike a fund, an index does not actually hold a portfolio of securities and therefore does not incur the expenses incurred by a fund. These expenses negatively impact fund performance. Also, market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, market returns would be lower.
Generally accepted accounting principles require adjustments to be made to the net assets of the Fund at period end for financial reporting purposes only, and as such, the total return based on the unadjusted net asset value per share may differ from the total return reported in the financial highlights.
14
DBX ETF Trust
Performance Summary (Unaudited)
Xtrackers S&P SmallCap 600 ESG ETF (SMLE) (Continued)
| Growth of an Assumed $10,000 Investment |
1 Based on Net Asset Value from commencement of operations, February 24, 2021.
| Sector Diversification* as of August 31, 2023 |
|
Industrials |
17.7% | |||
|
Financials |
16.8% | |||
|
Information Technology |
14.6% | |||
|
Consumer Discretionary |
14.1% | |||
|
Health Care |
9.9% | |||
|
Real Estate |
7.7% | |||
|
Materials |
5.5% | |||
|
Energy |
5.4% | |||
|
Consumer Staples |
4.7% | |||
|
Utilities |
2.0% | |||
|
Communication Services |
1.6% | |||
|
|
|
|||
|
Total |
100.0% |
| Ten Largest
Equity Holdings as of August 31, 2023 (9.0% of Net Assets) |
| Description | % of Net Assets | |||
|
elf Beauty, Inc. |
1.0% | |||
|
Onto Innovation, Inc. |
1.0% | |||
|
SPS Commerce, Inc. |
1.0% | |||
|
Comfort Systems USA, Inc. |
1.0% | |||
|
Axcelis Technologies, Inc. |
0.9% | |||
|
Rambus, Inc. |
0.9% | |||
|
Applied Industrial Technologies, Inc. |
0.9% | |||
|
Fabrinet |
0.8% | |||
|
Ensign Group, Inc. |
0.8% | |||
|
SM Energy Co. |
0.7% | |||
* 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.
15
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 (March 1, 2023 to August 31, 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 March 1, 2023 |
Ending Account Value August 31, 2023 |
Annualized Expense Ratio |
Expenses Paid During the Period Per $1,000(1) |
|||||||||||||
| Xtrackers S&P 500 ESG ETF |
| |||||||||||||||
|
Actual |
$ | 1,000.00 | $ | 1,165.10 | 0.10 | % | $ | 0.55 | ||||||||
|
Hypothetical (5% return before expenses) |
$ | 1,000.00 | $ | 1,024.70 | 0.10 | % | $ | 0.51 | ||||||||
| Xtrackers S&P 500 Growth ESG ETF |
| |||||||||||||||
|
Actual |
$ | 1,000.00 | $ | 1,245.50 | 0.15 | % | $ | 0.85 | ||||||||
|
Hypothetical (5% return before expenses) |
$ | 1,000.00 | $ | 1,024.45 | 0.15 | % | $ | 0.77 | ||||||||
| Xtrackers S&P 500 Value ESG ETF |
| |||||||||||||||
|
Actual |
$ | 1,000.00 | $ | 1,049.00 | 0.15 | % | $ | 0.77 | ||||||||
|
Hypothetical (5% return before expenses) |
$ | 1,000.00 | $ | 1,024.45 | 0.15 | % | $ | 0.77 | ||||||||
| Xtrackers S&P ESG Dividend Aristocrats ETF |
| |||||||||||||||
|
Actual |
$ | 1,000.00 | $ | 1,010.40 | 0.15 | % | $ | 0.76 | ||||||||
|
Hypothetical (5% return before expenses) |
$ | 1,000.00 | $ | 1,024.45 | 0.15 | % | $ | 0.77 | ||||||||
| Xtrackers S&P MidCap 400 ESG ETF |
| |||||||||||||||
|
Actual |
$ | 1,000.00 | $ | 1,008.30 | 0.15 | % | $ | 0.76 | ||||||||
|
Hypothetical (5% return before expenses) |
$ | 1,000.00 | $ | 1,024.45 | 0.15 | % | $ | 0.77 | ||||||||
| Xtrackers S&P SmallCap 600 ESG ETF |
| |||||||||||||||
|
Actual |
$ | 1,000.00 | $ | 996.20 | 0.15 | % | $ | 0.75 | ||||||||
|
Hypothetical (5% return before expenses) |
$ | 1,000.00 | $ | 1,024.45 | 0.15 | % | $ | 0.77 | ||||||||
(1) Expenses are equal to each Fund’s annualized expense ratio, multiplied by the average account value over the period, multiplied by 184 (the number of days in the most recent six-month period), then divided by 365.
16
DBX ETF Trust
August 31, 2023
|
Number |
Value |
|||||||
| COMMON STOCKS — 99.7% | ||||||||
| Communication Services — 8.7% | ||||||||
|
Alphabet, Inc., Class A* |
184,347 | $ | 25,102,531 | |||||
|
Alphabet, Inc., Class C* |
158,617 | 21,786,045 | ||||||
|
AT&T, Inc. |
220,369 | 3,259,257 | ||||||
|
Charter Communications, Inc., Class* |
3,278 | 1,436,157 | ||||||
|
Comcast Corp., Class A |
130,088 | 6,082,915 | ||||||
|
Electronic Arts, Inc. |
8,073 | 968,599 | ||||||
|
Fox Corp., Class A |
8,867 | 293,143 | ||||||
|
Fox Corp., Class B |
4,129 | 126,017 | ||||||
|
Interpublic Group of Cos., Inc. |
12,787 | 416,984 | ||||||
|
Match Group, Inc.* |
8,225 | 385,506 | ||||||
|
Netflix, Inc.* |
13,751 | 5,963,534 | ||||||
|
News Corp., Class A |
11,838 | 254,399 | ||||||
|
News Corp., Class B |
3,641 | 80,102 | ||||||
|
Omnicom Group, Inc. |
6,286 | 509,229 | ||||||
|
Paramount Global, Class B |
14,894 | 224,750 | ||||||
|
Verizon Communications, Inc. |
129,755 | 4,538,830 | ||||||
|
Walt Disney Co.* |
56,484 | 4,726,581 | ||||||
|
Warner Bros Discovery, Inc.* |
68,307 | 897,554 | ||||||
|
|
|
|||||||
|
(Cost $80,617,985) |
77,052,133 | |||||||
|
|
|
|||||||
| Consumer Discretionary — 12.0% | ||||||||
|
Amazon.com, Inc.* |
276,983 | 38,226,424 | ||||||
|
Aptiv PLC* |
8,363 | 848,426 | ||||||
|
Best Buy Co., Inc. |
6,013 | 459,694 | ||||||
|
BorgWarner, Inc. |
7,083 | 288,632 | ||||||
|
Caesars Entertainment, Inc.* |
6,949 | 384,002 | ||||||
|
Darden Restaurants, Inc. |
3,780 | 587,828 | ||||||
|
eBay, Inc. |
16,781 | 751,453 | ||||||
|
Etsy, Inc.* |
3,807 | 280,081 | ||||||
|
Ford Motor Co. |
120,740 | 1,464,576 | ||||||
|
General Motors Co. |
42,878 | 1,436,842 | ||||||
|
Hasbro, Inc. |
4,242 | 305,424 | ||||||
|
Hilton Worldwide Holdings, Inc. |
8,236 | 1,224,281 | ||||||
|
Home Depot, Inc. |
31,519 | 10,410,726 | ||||||
|
Las Vegas Sands Corp. |
10,195 | 559,298 | ||||||
|
Lowe’s Cos., Inc. |
18,705 | 4,311,128 | ||||||
|
Marriott International, Inc., Class A |
8,005 | 1,629,098 | ||||||
|
McDonald’s Corp. |
22,679 | 6,376,201 | ||||||
|
MGM Resorts International |
9,357 | 411,521 | ||||||
|
Mohawk Industries, Inc.* |
1,803 | 182,806 | ||||||
|
Newell Brands, Inc. |
12,363 | 130,800 | ||||||
|
NIKE, Inc., Class B |
38,536 | 3,919,497 | ||||||
|
Norwegian Cruise Line Holdings Ltd.* |
12,361 | 204,822 | ||||||
|
PulteGroup, Inc. |
6,902 | 566,378 | ||||||
|
Ralph Lauren Corp. |
1,224 | 142,755 | ||||||
|
Royal Caribbean Cruises Ltd.* |
6,533 | 646,375 | ||||||
|
Starbucks Corp. |
35,594 | 3,468,279 | ||||||
|
Tapestry, Inc. |
7,297 | 243,136 | ||||||
|
Tesla, Inc.* |
83,621 | 21,580,908 | ||||||
|
TJX Cos., Inc. |
35,785 | 3,309,397 | ||||||
|
Tractor Supply Co. |
3,417 | 746,614 | ||||||
|
VF Corp. |
10,430 | 206,097 | ||||||
|
Whirlpool Corp. |
1,688 | 236,252 | ||||||
|
Yum! Brands, Inc. |
8,687 | 1,123,924 | ||||||
|
|
|
|||||||
|
(Cost $104,338,695) |
106,663,675 | |||||||
|
|
|
|||||||
|
Number |
Value |
|||||||
| Consumer Staples — 6.3% | ||||||||
|
Archer-Daniels-Midland Co. |
16,941 | $ | 1,343,421 | |||||
|
Brown-Forman Corp., Class B |
6,002 | 396,912 | ||||||
|
Campbell Soup Co. |
6,557 | 273,427 | ||||||
|
Coca-Cola Co. |
120,324 | 7,198,985 | ||||||
|
Colgate-Palmolive Co. |
25,708 | 1,888,767 | ||||||
|
Conagra Brands, Inc. |
14,486 | 432,842 | ||||||
|
Constellation Brands, Inc., Class A |
5,099 | 1,328,595 | ||||||
|
Dollar General Corp. |
6,899 | 955,511 | ||||||
|
Dollar Tree, Inc.* |
6,421 | 785,674 | ||||||
|
Estee Lauder Cos., Inc., Class A |
7,174 | 1,151,642 | ||||||
|
General Mills, Inc. |
18,245 | 1,234,457 | ||||||
|
Hershey Co. |
4,561 | 979,976 | ||||||
|
Hormel Foods Corp. |
9,479 | 365,795 | ||||||
|
J M Smucker Co. |
3,295 | 477,610 | ||||||
|
Kellogg Co. |
7,781 | 474,797 | ||||||
|
Keurig Dr Pepper, Inc. |
26,287 | 884,557 | ||||||
|
Kraft Heinz Co. |
24,408 | 807,661 | ||||||
|
Kroger Co. |
20,080 | 931,511 | ||||||
|
McCormick & Co., Inc. |
7,709 | 632,755 | ||||||
|
Molson Coors Beverage Co., Class B |
6,152 | 390,590 | ||||||
|
Mondelez International, Inc., Class A |
42,135 | 3,002,540 | ||||||
|
PepsiCo, Inc. |
42,592 | 7,577,969 | ||||||
|
Procter & Gamble Co. |
73,003 | 11,267,283 | ||||||
|
Sysco Corp. |
15,648 | 1,089,883 | ||||||
|
Target Corp. |
14,212 | 1,798,529 | ||||||
|
Tyson Foods, Inc., Class A |
8,665 | 461,585 | ||||||
|
Walgreens Boots Alliance, Inc. |
21,877 | 553,707 | ||||||
|
Walmart, Inc. |
43,413 | 7,059,388 | ||||||
|
|
|
|||||||
|
(Cost $57,505,640) |
55,746,369 | |||||||
|
|
|
|||||||
| Energy — 3.9% | ||||||||
|
APA Corp. |
9,838 | 431,298 | ||||||
|
Baker Hughes Co. |
31,016 | 1,122,469 | ||||||
|
Chevron Corp. |
55,216 | 8,895,298 | ||||||
|
ConocoPhillips |
37,835 | 4,503,500 | ||||||
|
Devon Energy Corp. |
19,939 | 1,018,684 | ||||||
|
EOG Resources, Inc. |
18,076 | 2,324,935 | ||||||
|
EQT Corp. |
10,882 | 470,320 | ||||||
|
Halliburton Co. |
27,836 | 1,075,026 | ||||||
|
Hess Corp. |
8,544 | 1,320,048 | ||||||
|
Kinder Morgan, Inc. |
61,178 | 1,053,485 | ||||||
|
Marathon Oil Corp. |
19,310 | 508,818 | ||||||
|
Marathon Petroleum Corp. |
13,174 | 1,880,852 | ||||||
|
ONEOK, Inc. |
13,723 | 894,740 | ||||||
|
Phillips 66 |
14,437 | 1,648,128 | ||||||
|
Pioneer Natural Resources Co. |
7,315 | 1,740,458 | ||||||
|
Schlumberger NV |
43,893 | 2,587,931 | ||||||
|
Valero Energy Corp. |
11,229 | 1,458,647 | ||||||
|
Williams Cos., Inc. |
37,471 | 1,293,874 | ||||||
|
|
|
|||||||
|
(Cost $29,648,707) |
34,228,511 | |||||||
|
|
|
|||||||
| Financials — 12.1% | ||||||||
|
Aflac, Inc. |
17,318 | 1,291,403 | ||||||
|
Allstate Corp. |
8,076 | 870,674 | ||||||
|
American Express Co. |
18,360 | 2,900,697 | ||||||
|
American International Group, Inc. |
22,729 | 1,330,101 | ||||||
|
Ameriprise Financial, Inc. |
3,273 | 1,104,899 | ||||||
| See Notes to Financial Statements. | 17 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P 500 ESG ETF (Continued)
August 31, 2023
|
Number |
Value |
|||||||
| Financials (Continued) | ||||||||
|
Arch Capital Group Ltd.* |
11,453 | $ | 880,278 | |||||
|
Arthur J Gallagher & Co. |
6,534 | 1,505,956 | ||||||
|
Assurant, Inc. |
1,843 | 256,785 | ||||||
|
Bank of America Corp. |
215,353 | 6,174,171 | ||||||
|
Bank of New York Mellon Corp. |
22,308 | 1,000,960 | ||||||
|
BlackRock, Inc. |
4,621 | 3,237,195 | ||||||
|
Capital One Financial Corp. |
11,824 | 1,210,659 | ||||||
|
Cboe Global Markets, Inc. |
3,423 | 512,457 | ||||||
|
Charles Schwab Corp. |
46,123 | 2,728,176 | ||||||
|
Chubb Ltd. |
12,830 | 2,577,162 | ||||||
|
Citigroup, Inc. |
59,892 | 2,472,941 | ||||||
|
CME Group, Inc. |
11,121 | 2,254,004 | ||||||
|
Discover Financial Services |
8,230 | 741,276 | ||||||
|
Everest Group Ltd. |
1,321 | 476,458 | ||||||
|
FactSet Research Systems, Inc. |
1,237 | 539,839 | ||||||
|
Fidelity National Information Services, Inc. |
18,353 | 1,025,199 | ||||||
|
Fifth Third Bancorp |
20,525 | 544,939 | ||||||
|
Franklin Resources, Inc. |
9,034 | 241,569 | ||||||
|
Globe Life, Inc. |
2,928 | 326,677 | ||||||
|
Goldman Sachs Group, Inc. |
10,440 | 3,421,292 | ||||||
|
Hartford Financial Services Group, Inc. |
9,768 | 701,538 | ||||||
|
Intercontinental Exchange, Inc. |
17,264 | 2,036,979 | ||||||
|
Invesco Ltd. |
14,921 | 237,542 | ||||||
|
JPMorgan Chase & Co. |
90,725 | 13,275,789 | ||||||
|
Lincoln National Corp. |
5,418 | 139,026 | ||||||
|
M&T Bank Corp. |
5,220 | 652,761 | ||||||
|
MarketAxess Holdings, Inc. |
1,226 | 295,380 | ||||||
|
Mastercard, Inc., Class A |
25,972 | 10,717,086 | ||||||
|
MetLife, Inc. |
20,393 | 1,291,693 | ||||||
|
Moody’s Corp. |
4,809 | 1,619,671 | ||||||
|
Morgan Stanley |
40,223 | 3,424,989 | ||||||
|
MSCI, Inc. |
2,480 | 1,348,178 | ||||||
|
Nasdaq, Inc. |
10,196 | 535,086 | ||||||
|
Northern Trust Corp. |
6,427 | 488,902 | ||||||
|
PayPal Holdings, Inc.* |
34,949 | 2,184,662 | ||||||
|
PNC Financial Services Group, Inc. |
12,396 | 1,496,569 | ||||||
|
Principal Financial Group, Inc. |
7,359 | 571,868 | ||||||
|
Progressive Corp. |
18,043 | 2,408,199 | ||||||
|
Prudential Financial, Inc. |
11,336 | 1,073,179 | ||||||
|
Raymond James Financial, Inc. |
5,895 | 616,558 | ||||||
|
Regions Financial Corp. |
31,352 | 574,996 | ||||||
|
S&P Global, Inc. |
10,157 | 3,969,965 | ||||||
|
State Street Corp. |
10,660 | 732,768 | ||||||
|
Synchrony Financial |
13,110 | 423,191 | ||||||
|
T. Rowe Price Group, Inc. |
6,974 | 782,692 | ||||||
|
Travelers Cos., Inc. |
7,085 | 1,142,315 | ||||||
|
Truist Financial Corp. |
40,562 | 1,239,169 | ||||||
|
Visa, Inc., Class A |
50,297 | 12,356,967 | ||||||
|
W R Berkley Corp. |
6,812 | 421,390 | ||||||
|
Willis Towers Watson PLC |
3,281 | 678,380 | ||||||
|
|
|
|||||||
|
(Cost $111,428,134) |
107,063,255 | |||||||
|
|
|
|||||||
| Health Care — 13.1% | ||||||||
|
Abbott Laboratories |
53,955 | 5,551,969 | ||||||
|
AbbVie, Inc. |
54,730 | 8,043,121 | ||||||
|
Agilent Technologies, Inc. |
9,110 | 1,102,948 | ||||||
|
Number |
Value |
|||||||
| Health Care (Continued) | ||||||||
|
Amgen, Inc. |
16,525 | $ | 4,236,018 | |||||
|
Baxter International, Inc. |
15,502 | 629,381 | ||||||
|
Becton Dickinson and Co. |
8,816 | 2,463,631 | ||||||
|
Biogen, Inc.* |
4,430 | 1,184,405 | ||||||
|
Bio-Rad Laboratories, Inc., Class A* |
614 | 245,723 | ||||||
|
Boston Scientific Corp.* |
44,461 | 2,398,226 | ||||||
|
Bristol-Myers Squibb Co. |
65,736 | 4,052,624 | ||||||
|
Cardinal Health, Inc. |
7,975 | 696,457 | ||||||
|
Cencora, Inc. |
5,015 | 882,540 | ||||||
|
Centene Corp.* |
16,977 | 1,046,632 | ||||||
|
Cigna Group |
9,263 | 2,558,996 | ||||||
|
CVS Health Corp. |
39,675 | 2,585,620 | ||||||
|
DaVita, Inc.* |
2,011 | 205,967 | ||||||
|
Edwards Lifesciences Corp.* |
19,145 | 1,464,018 | ||||||
|
Elevance Health, Inc. |
7,364 | 3,254,962 | ||||||
|
Eli Lilly & Co. |
24,401 | 13,523,034 | ||||||
|
Gilead Sciences, Inc. |
38,641 | 2,955,264 | ||||||
|
Henry Schein, Inc.* |
4,363 | 333,944 | ||||||
|
Hologic, Inc.* |
7,661 | 572,583 | ||||||
|
Humana, Inc. |
3,867 | 1,785,123 | ||||||
|
IDEXX Laboratories, Inc.* |
2,564 | 1,311,255 | ||||||
|
Illumina, Inc.* |
4,839 | 799,500 | ||||||
|
Laboratory Corp. of America Holdings |
2,699 | 561,662 | ||||||
|
Medtronic PLC |
41,108 | 3,350,302 | ||||||
|
Merck & Co., Inc. |
78,498 | 8,554,712 | ||||||
|
Mettler-Toledo International, Inc.* |
715 | 867,638 | ||||||
|
Moderna, Inc.* |
10,237 | 1,157,498 | ||||||
|
Organon & Co. |
8,413 | 184,749 | ||||||
|
Pfizer, Inc. |
175,324 | 6,202,963 | ||||||
|
Quest Diagnostics, Inc. |
3,419 | 449,598 | ||||||
|
Regeneron Pharmaceuticals, Inc.* |
3,341 | 2,761,303 | ||||||
|
Teleflex, Inc. |
1,370 | 291,454 | ||||||
|
Thermo Fisher Scientific, Inc. |
11,983 | 6,675,729 | ||||||
|
UnitedHealth Group, Inc. |
28,923 | 13,784,123 | ||||||
|
Vertex Pharmaceuticals, Inc.* |
7,981 | 2,780,102 | ||||||
|
Viatris, Inc. |
39,386 | 423,400 | ||||||
|
Waters Corp.* |
1,817 | 510,214 | ||||||
|
Zimmer Biomet Holdings, Inc. |
6,477 | 771,540 | ||||||
|
Zoetis, Inc. |
14,433 | 2,749,631 | ||||||
|
|
|
|||||||
|
(Cost $114,093,076) |
115,960,559 | |||||||
|
|
|
|||||||
| Industrials — 6.8% | ||||||||
|
Alaska Air Group, Inc.* |
3,702 | 155,373 | ||||||
|
American Airlines Group, Inc.* |
21,294 | 313,661 | ||||||
|
Automatic Data Processing, Inc. |
12,798 | 3,258,499 | ||||||
|
Broadridge Financial Solutions, Inc. |
3,655 | 680,598 | ||||||
|
C.H. Robinson Worldwide, Inc. |
3,461 | 312,978 | ||||||
|
Carrier Global Corp. |
25,784 | 1,481,291 | ||||||
|
Caterpillar, Inc. |
16,084 | 4,521,695 | ||||||
|
Cintas Corp. |
2,643 | 1,332,521 | ||||||
|
CSX Corp. |
63,164 | 1,907,553 | ||||||
|
Cummins, Inc. |
4,395 | 1,011,026 | ||||||
|
Deere & Co. |
8,381 | 3,444,088 | ||||||
|
Dover Corp. |
4,317 | 640,211 | ||||||
|
Eaton Corp. PLC |
12,311 | 2,836,085 | ||||||
|
Emerson Electric Co. |
17,660 | 1,735,095 | ||||||
|
Expeditors International of Washington, Inc. |
4,724 | 551,338 | ||||||
| See Notes to Financial Statements. | 18 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P 500 ESG ETF (Continued)
August 31, 2023
|
Number |
Value |
|||||||
| Industrials (Continued) | ||||||||
|
Fortive Corp. |
10,918 | $ | 860,884 | |||||
|
Generac Holdings, Inc.* |
2,052 | 243,798 | ||||||
|
General Electric Co. |
33,707 | 3,858,103 | ||||||
|
IDEX Corp. |
2,462 | 557,397 | ||||||
|
Illinois Tool Works, Inc. |
8,579 | 2,122,016 | ||||||
|
Ingersoll Rand, Inc. |
12,315 | 857,247 | ||||||
|
JB Hunt Transport Services, Inc. |
2,543 | 477,779 | ||||||
|
Johnson Controls International PLC |
21,022 | 1,241,559 | ||||||
|
Nordson Corp. |
1,669 | 407,470 | ||||||
|
Norfolk Southern Corp. |
7,010 | 1,437,120 | ||||||
|
Otis Worldwide Corp. |
12,667 | 1,083,662 | ||||||
|
PACCAR, Inc. |
16,153 | 1,329,230 | ||||||
|
Parker-Hannifin Corp. |
3,906 | 1,628,411 | ||||||
|
Paychex, Inc. |
9,907 | 1,210,933 | ||||||
|
Pentair PLC |
5,300 | 372,378 | ||||||
|
Quanta Services, Inc. |
4,398 | 923,008 | ||||||
|
Republic Services, Inc. |
6,315 | 910,181 | ||||||
|
Robert Half, Inc. |
3,543 | 262,040 | ||||||
|
Rockwell Automation, Inc. |
3,488 | 1,088,535 | ||||||
|
Stanley Black & Decker, Inc. |
5,215 | 492,192 | ||||||
|
Trane Technologies PLC |
6,993 | 1,435,383 | ||||||
|
Union Pacific Corp. |
18,897 | 4,168,111 | ||||||
|
United Parcel Service, Inc., Class B |
22,596 | 3,827,762 | ||||||
|
United Rentals, Inc. |
2,135 | 1,017,413 | ||||||
|
Verisk Analytics, Inc. |
4,495 | 1,088,779 | ||||||
|
Waste Management, Inc. |
11,474 | 1,798,894 | ||||||
|
Westinghouse Air Brake Technologies Corp. |
5,614 | 631,687 | ||||||
|
Xylem, Inc. |
7,374 | 763,504 | ||||||
|
|
|
|||||||
|
(Cost $54,383,278) |
60,277,488 | |||||||
|
|
|
|||||||
| Information Technology — 30.7% | ||||||||
|
Adobe, Inc.* |
14,168 | 7,924,729 | ||||||
|
Advanced Micro Devices, Inc.* |
49,912 | 5,276,697 | ||||||
|
Apple, Inc. |
458,786 | 86,192,126 | ||||||
|
Applied Materials, Inc. |
26,101 | 3,987,189 | ||||||
|
Arista Networks, Inc.* |
7,653 | 1,494,095 | ||||||
|
Autodesk, Inc.* |
6,704 | 1,487,886 | ||||||
|
Cisco Systems, Inc. |
126,774 | 7,270,489 | ||||||
|
Corning, Inc. |
23,108 | 758,405 | ||||||
|
F5, Inc.* |
1,778 | 290,987 | ||||||
|
Fortinet, Inc.* |
20,048 | 1,207,090 | ||||||
|
Gen Digital, Inc. |
18,677 | 378,209 | ||||||
|
Hewlett Packard Enterprise Co. |
42,607 | 723,893 | ||||||
|
HP, Inc. |
26,454 | 785,948 | ||||||
|
Intel Corp. |
129,543 | 4,552,141 | ||||||
|
Intuit, Inc. |
8,677 | 4,701,285 | ||||||
|
Juniper Networks, Inc. |
10,555 | 307,362 | ||||||
|
Keysight Technologies, Inc.* |
5,503 | 733,550 | ||||||
|
KLA Corp. |
4,279 | 2,147,502 | ||||||
|
Lam Research Corp. |
4,190 | 2,943,056 | ||||||
|
Micron Technology, Inc. |
33,744 | 2,360,055 | ||||||
|
Microsoft Corp. |
230,711 | 75,617,837 | ||||||
|
Motorola Solutions, Inc. |
5,169 | 1,465,773 | ||||||
|
NVIDIA Corp. |
76,741 | 37,875,520 | ||||||
|
NXP Semiconductors NV |
8,026 | 1,651,109 | ||||||
|
ON Semiconductor Corp.* |
13,343 | 1,313,752 | ||||||
|
Number |
Value |
|||||||
| Information Technology (Continued) | ||||||||
|
QUALCOMM, Inc. |
34,507 | $ | 3,952,087 | |||||
|
Salesforce, Inc.* |
30,393 | 6,730,834 | ||||||
|
Seagate Technology Holdings PLC |
5,882 | 416,387 | ||||||
|
SolarEdge Technologies, Inc.* |
1,672 | 271,817 | ||||||
|
TE Connectivity Ltd. |
9,695 | 1,283,521 | ||||||
|
Texas Instruments, Inc. |
28,063 | 4,716,268 | ||||||
|
Tyler Technologies, Inc.* |
1,332 | 530,709 | ||||||
|
Zebra Technologies Corp., Class A* |
1,601 | 440,291 | ||||||
|
|
|
|||||||
|
(Cost $227,490,906) |
271,788,599 | |||||||
|
|
|
|||||||
| Materials — 2.3% | ||||||||
|
Air Products and Chemicals, Inc. |
6,863 | 2,027,948 | ||||||
|
Albemarle Corp. |
3,547 | 704,824 | ||||||
|
Amcor PLC |
45,668 | 444,806 | ||||||
|
Ball Corp. |
9,685 | 527,348 | ||||||
|
CF Industries Holdings, Inc. |
6,029 | 464,655 | ||||||
|
Corteva, Inc. |
21,922 | 1,107,280 | ||||||
|
Dow, Inc. |
21,568 | 1,176,750 | ||||||
|
Ecolab, Inc. |
7,659 | 1,407,801 | ||||||
|
FMC Corp. |
4,150 | 357,855 | ||||||
|
Freeport-McMoRan, Inc. |
44,151 | 1,762,066 | ||||||
|
International Flavors & Fragrances, Inc. |
7,792 | 548,946 | ||||||
|
International Paper Co. |
10,751 | 375,425 | ||||||
|
Linde PLC |
15,240 | 5,898,490 | ||||||
|
LyondellBasell Industries NV, Class A |
7,706 | 761,122 | ||||||
|
Mosaic Co. |
10,240 | 397,824 | ||||||
|
Newmont Corp. |
24,673 | 972,610 | ||||||
|
PPG Industries, Inc. |
7,248 | 1,027,476 | ||||||
|
Westrock Co. |
7,336 | 239,961 | ||||||
|
|
|
|||||||
|
(Cost $21,216,942) |
20,203,187 | |||||||
|
|
|
|||||||
| Real Estate — 2.4% | ||||||||
|
Alexandria Real Estate Equities, Inc. REIT |
4,818 | 560,526 | ||||||
|
American Tower Corp. REIT |
14,427 | 2,615,904 | ||||||
|
AvalonBay Communities, Inc. REIT |
4,273 | 785,463 | ||||||
|
Boston Properties, Inc. REIT |
4,589 | 306,408 | ||||||
|
CBRE Group, Inc., Class A* |
9,746 | 828,897 | ||||||
|
Digital Realty Trust, Inc. REIT |
8,908 | 1,173,362 | ||||||
|
Equinix, Inc. REIT |
2,888 | 2,256,625 | ||||||
|
Equity Residential REIT |
11,234 | 728,300 | ||||||
|
Essex Property Trust, Inc. REIT |
2,107 | 502,288 | ||||||
|
Extra Space Storage, Inc. REIT |
6,548 | 842,597 | ||||||
|
Federal Realty Investment Trust REIT |
2,299 | 225,164 | ||||||
|
Healthpeak Properties, Inc. REIT |
17,363 | 357,331 | ||||||
|
Host Hotels & Resorts, Inc. REIT |
23,181 | 366,028 | ||||||
|
Iron Mountain, Inc. REIT |
8,815 | 560,105 | ||||||
|
Kimco Realty Corp. REIT |
19,607 | 371,357 | ||||||
|
Prologis, Inc. REIT |
28,586 | 3,550,381 | ||||||
|
Regency Centers Corp. REIT |
4,585 | 285,187 | ||||||
|
SBA Communications Corp. REIT |
3,351 | 752,400 | ||||||
|
Simon Property Group, Inc. REIT |
10,086 | 1,144,660 | ||||||
|
UDR, Inc. REIT |
9,808 | 391,339 | ||||||
|
Ventas, Inc. REIT |
12,857 | 561,594 | ||||||
|
Welltower, Inc. REIT |
15,432 | 1,279,004 | ||||||
|
Weyerhaeuser Co. REIT |
22,554 | 738,643 | ||||||
|
|
|
|||||||
|
(Cost $23,935,728) |
21,183,563 | |||||||
|
|
|
|||||||
| See Notes to Financial Statements. | 19 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P 500 ESG ETF (Continued)
August 31, 2023
|
Number |
Value |
|||||||
| Utilities — 1.4% | ||||||||
|
American Water Works Co., Inc. |
5,972 | $ | 828,555 | |||||
|
CenterPoint Energy, Inc. |
19,498 | 543,799 | ||||||
|
Constellation Energy Corp. |
10,077 | 1,049,620 | ||||||
|
Edison International |
11,801 | 812,499 | ||||||
|
Entergy Corp. |
6,564 | 625,221 | ||||||
|
Eversource Energy |
10,708 | 683,385 | ||||||
|
Exelon Corp. |
30,653 | 1,229,798 | ||||||
|
NextEra Energy, Inc. |
62,857 | 4,198,848 | ||||||
|
Public Service Enterprise Group, Inc. |
15,321 | 935,807 | ||||||
|
Sempra |
19,407 | 1,362,759 | ||||||
|
|
|
|||||||
|
(Cost $13,336,155) |
12,270,291 | |||||||
|
|
|
|||||||
|
TOTAL
COMMON STOCKS |
882,437,630 | |||||||
|
|
|
|||||||
| CASH EQUIVALENTS — 0.2% | ||||||||
|
DWS
Government Money Market Series |
1,432,502 | 1,432,502 | ||||||
|
|
|
|||||||
|
TOTAL INVESTMENTS — 99.9% (Cost $839,427,748) |
$ |
883,870,132 |
| |||||
|
Other assets and liabilities, net — 0.1% |
1,283,550 | |||||||
|
|
|
|||||||
|
NET ASSETS — 100.0% |
$ | 885,153,682 | ||||||
|
|
|
|||||||
A summary of the Fund’s transactions with affiliated investments during the year ended August 31, 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 ($) |
Number of Shares at 8/31/2023 |
Value ($) at 8/31/2023 |
||||||||||||||||||||||||||||
|
SECURITIES LENDING COLLATERAL — 0.0% |
|
|||||||||||||||||||||||||||||||||||
|
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.27% (a)(b) |
| |||||||||||||||||||||||||||||||||||
| — | – | 0 (c | ) | — | — | 2 | — | — | — | |||||||||||||||||||||||||||
|
CASH EQUIVALENTS — 0.2% |
| |||||||||||||||||||||||||||||||||||
|
DWS Government Money Market Series “Institutional Shares”, 5.28% (a) |
| |||||||||||||||||||||||||||||||||||
| 1,156,171 | 15,672,483 | (15,396,152 | ) | — | — | 64,810 | — | 1,432,502 | 1,432,502 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
| 1,156,171 | 15,672,483 | (15,396,152 | ) | — | — | 64,812 | — | 1,432,502 | 1,432,502 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
| * |
Non-income producing security. |
| (a) |
Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
| (b) |
Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. |
| (c) |
Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the year ended August 31, 2023. |
| REIT: | Real Estate Investment Trust |
At August 31, 2023, open futures contracts purchased were as follows:
|
Contract Description |
Currency | Number of Contracts |
Notional Amount |
Contract Value |
Expiration Date |
Unrealized Appreciation |
||||||||||||
|
E-Mini S&P 500 ESG Futures |
USD | 13 | $ | 2,584,627 | $ | 2,607,150 | 9/15/2023 | $ | 22,523 | |||||||||
For information on the Fund’s policy and additional disclosures regarding 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. | 20 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P 500 ESG ETF (Continued)
August 31, 2023
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 August 31, 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) |
$ | 882,437,630 | $ | — | $ | — | $ | 882,437,630 | ||||||||
|
Short-Term Investments (a) |
1,432,502 | — | — | 1,432,502 | ||||||||||||
|
Derivatives (b) |
||||||||||||||||
|
Futures Contracts |
22,523 | — | — | 22,523 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
TOTAL |
$ | 883,892,655 | $ | — | $ | — | $ | 883,892,655 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
See Schedule of Investments for additional detailed categorizations. |
| (b) |
Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
| See Notes to Financial Statements. | 21 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P 500 Growth ESG ETF
August 31, 2023
|
Number |
Value |
|||||||
| COMMON STOCKS — 99.8% | ||||||||
| Communication Services — 10.2% | ||||||||
|
Alphabet, Inc., Class A* |
2,542 | $ | 346,144 | |||||
|
Alphabet, Inc., Class C* |
2,184 | 299,973 | ||||||
|
T-Mobile US, Inc.* |
169 | 23,026 | ||||||
|
|
|
|||||||
|
(Cost $461,784) |
669,143 | |||||||
|
|
|
|||||||
| Consumer Discretionary — 12.1% | ||||||||
|
Amazon.com, Inc.* |
1,757 | 242,484 | ||||||
|
Etsy, Inc.* |
31 | 2,281 | ||||||
|
Hilton Worldwide Holdings, Inc. |
54 | 8,027 | ||||||
|
Home Depot, Inc. |
229 | 75,639 | ||||||
|
Lowe’s Cos., Inc. |
176 | 40,564 | ||||||
|
McDonald’s Corp. |
195 | 54,824 | ||||||
|
Starbucks Corp. |
247 | 24,068 | ||||||
|
Tesla, Inc.* |
1,152 | 297,308 | ||||||
|
TJX Cos., Inc. |
322 | 29,779 | ||||||
|
Tractor Supply Co. |
46 | 10,051 | ||||||
|
Yum! Brands, Inc. |
75 | 9,703 | ||||||
|
|
|
|||||||
|
(Cost $617,718) |
794,728 | |||||||
|
|
|
|||||||
| Consumer Staples — 6.8% | ||||||||
|
Archer-Daniels-Midland Co. |
113 | 8,961 | ||||||
|
Bunge Ltd. |
26 | 2,972 | ||||||
|
Campbell Soup Co. |
50 | 2,085 | ||||||
|
Coca-Cola Co. |
1,088 | 65,095 | ||||||
|
Colgate-Palmolive Co. |
193 | 14,180 | ||||||
|
Constellation Brands, Inc., Class A |
38 | 9,901 | ||||||
|
Costco Wholesale Corp. |
125 | 68,660 | ||||||
|
Dollar General Corp. |
94 | 13,019 | ||||||
|
Dollar Tree, Inc.* |
87 | 10,645 | ||||||
|
General Mills, Inc. |
169 | 11,435 | ||||||
|
Hershey Co. |
62 | 13,321 | ||||||
|
Kellogg Co. |
59 | 3,600 | ||||||
|
Keurig Dr Pepper, Inc. |
179 | 6,024 | ||||||
|
McCormick & Co., Inc. |
54 | 4,432 | ||||||
|
Mondelez International, Inc., Class A |
323 | 23,017 | ||||||
|
PepsiCo, Inc. |
591 | 105,151 | ||||||
|
Procter & Gamble Co. |
555 | 85,659 | ||||||
|
|
|
|||||||
|
(Cost $461,220) |
448,157 | |||||||
|
|
|
|||||||
| Energy — 8.3% | ||||||||
|
APA Corp. |
135 | 5,918 | ||||||
|
Chevron Corp. |
761 | 122,597 | ||||||
|
ConocoPhillips |
516 | 61,420 | ||||||
|
Devon Energy Corp. |
275 | 14,050 | ||||||
|
EOG Resources, Inc. |
255 | 32,798 | ||||||
|
EQT Corp. |
154 | 6,656 | ||||||
|
Exxon Mobil Corp. |
1,728 | 192,136 | ||||||
|
Hess Corp. |
117 | 18,077 | ||||||
|
Marathon Oil Corp. |
267 | 7,035 | ||||||
|
Marathon Petroleum Corp. |
92 | 13,135 | ||||||
|
ONEOK, Inc. |
188 | 12,258 | ||||||
|
Pioneer Natural Resources Co. |
100 | 23,793 | ||||||
|
Schlumberger NV |
317 | 18,690 | ||||||
|
Williams Cos., Inc. |
512 | 17,679 | ||||||
|
|
|
|||||||
|
(Cost $542,571) |
546,242 | |||||||
|
|
|
|||||||
|
Number |
Value |
|||||||
| Financials — 7.3% | ||||||||
|
American Express Co. |
123 | $ | 19,433 | |||||
|
Arch Capital Group Ltd.* |
156 | 11,990 | ||||||
|
Arthur J Gallagher & Co. |
60 | 13,829 | ||||||
|
Cboe Global Markets, Inc. |
30 | 4,491 | ||||||
|
Chubb Ltd. |
100 | 20,087 | ||||||
|
Everest Group Ltd. |
10 | 3,607 | ||||||
|
FactSet Research Systems, Inc. |
10 | 4,364 | ||||||
|
Globe Life, Inc. |
27 | 3,012 | ||||||
|
MarketAxess Holdings, Inc. |
8 | 1,927 | ||||||
|
Mastercard, Inc., Class A |
358 | 147,725 | ||||||
|
Moody’s Corp. |
31 | 10,441 | ||||||
|
MSCI, Inc. |
19 | 10,329 | ||||||
|
Nasdaq, Inc. |
91 | 4,776 | ||||||
|
Principal Financial Group, Inc. |
58 | 4,507 | ||||||
|
Progressive Corp. |
250 | 33,368 | ||||||
|
Travelers Cos., Inc. |
58 | 9,351 | ||||||
|
Visa, Inc., Class A |
693 | 170,256 | ||||||
|
W.R. Berkley Corp. |
86 | 5,320 | ||||||
|
|
|
|||||||
|
(Cost $441,383) |
478,813 | |||||||
|
|
|
|||||||
| Health Care — 16.9% | ||||||||
|
Abbott Laboratories |
390 | 40,131 | ||||||
|
AbbVie, Inc. |
755 | 110,955 | ||||||
|
Agilent Technologies, Inc. |
75 | 9,080 | ||||||
|
Amgen, Inc. |
229 | 58,702 | ||||||
|
Biogen, Inc.* |
30 | 8,021 | ||||||
|
Bristol-Myers Squibb Co. |
894 | 55,115 | ||||||
|
Cigna Group |
62 | 17,128 | ||||||
|
Elevance Health, Inc. |
102 | 45,085 | ||||||
|
Eli Lilly & Co. |
337 | 186,765 | ||||||
|
Gilead Sciences, Inc. |
538 | 41,146 | ||||||
|
Hologic, Inc.* |
104 | 7,773 | ||||||
|
IDEXX Laboratories, Inc.* |
17 | 8,694 | ||||||
|
IQVIA Holdings, Inc.* |
37 | 8,237 | ||||||
|
Merck & Co., Inc. |
1,086 | 118,352 | ||||||
|
Mettler-Toledo International, Inc.* |
6 | 7,281 | ||||||
|
Moderna, Inc.* |
139 | 15,717 | ||||||
|
Quest Diagnostics, Inc. |
31 | 4,076 | ||||||
|
Regeneron Pharmaceuticals, Inc.* |
46 | 38,019 | ||||||
|
ResMed, Inc. |
33 | 5,266 | ||||||
|
Thermo Fisher Scientific, Inc. |
165 | 91,922 | ||||||
|
UnitedHealth Group, Inc. |
398 | 189,679 | ||||||
|
Vertex Pharmaceuticals, Inc.* |
111 | 38,666 | ||||||
|
Waters Corp.* |
25 | 7,020 | ||||||
|
|
|
|||||||
|
(Cost $1,060,964) |
1,112,830 | |||||||
|
|
|
|||||||
| Industrials — 4.2% | ||||||||
|
Automatic Data Processing, Inc. |
177 | 45,066 | ||||||
|
Broadridge Financial Solutions, Inc. |
24 | 4,469 | ||||||
|
C.H. Robinson Worldwide, Inc. |
27 | 2,442 | ||||||
|
Caterpillar, Inc. |
131 | 36,828 | ||||||
|
Cintas Corp. |
23 | 11,596 | ||||||
|
CSX Corp. |
424 | 12,805 | ||||||
|
Cummins, Inc. |
30 | 6,901 | ||||||
|
Deere & Co. |
116 | 47,669 | ||||||
|
IDEX Corp. |
18 | 4,075 | ||||||
|
Illinois Tool Works, Inc. |
60 | 14,841 | ||||||
| See Notes to Financial Statements. | 22 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P 500 Growth ESG ETF (Continued)
August 31, 2023
|
Number |
Value |
|||||||
| Industrials (Continued) | ||||||||
|
JB Hunt Transport Services, Inc. |
35 | $ | 6,576 | |||||
|
Paychex, Inc. |
77 | 9,412 | ||||||
|
Quanta Services, Inc. |
65 | 13,641 | ||||||
|
Republic Services, Inc. |
48 | 6,918 | ||||||
|
Union Pacific Corp. |
129 | 28,453 | ||||||
|
Verisk Analytics, Inc. |
30 | 7,267 | ||||||
|
Waste Management, Inc. |
92 | 14,424 | ||||||
|
|
|
|||||||
|
(Cost $243,733) |
273,383 | |||||||
|
|
|
|||||||
| Information Technology — 31.2% | ||||||||
|
Adobe, Inc.* |
93 | 52,019 | ||||||
|
Advanced Micro Devices, Inc.* |
375 | 39,645 | ||||||
|
Apple, Inc. |
2,998 | 563,234 | ||||||
|
Applied Materials, Inc. |
362 | 55,299 | ||||||
|
Arista Networks, Inc.* |
107 | 20,890 | ||||||
|
Autodesk, Inc.* |
50 | 11,097 | ||||||
|
Fortinet, Inc.* |
279 | 16,798 | ||||||
|
Keysight Technologies, Inc.* |
41 | 5,465 | ||||||
|
Lam Research Corp. |
57 | 40,037 | ||||||
|
Microsoft Corp. |
1,669 | 547,031 | ||||||
|
Motorola Solutions, Inc. |
39 | 11,059 | ||||||
|
NVIDIA Corp. |
1,058 | 522,176 | ||||||
|
ON Semiconductor Corp.* |
182 | 17,920 | ||||||
|
QUALCOMM, Inc. |
477 | 54,631 | ||||||
|
ServiceNow, Inc.* |
87 | 51,228 | ||||||
|
Texas Instruments, Inc. |
245 | 41,175 | ||||||
|
|
|
|||||||
|
(Cost $1,440,951) |
2,049,704 | |||||||
|
|
|
|||||||
| Materials — 2.0% | ||||||||
|
Air Products and Chemicals, Inc. |
96 | 28,367 | ||||||
|
Albemarle Corp. |
49 | 9,737 | ||||||
|
CF Industries Holdings, Inc. |
83 | 6,397 | ||||||
|
Corteva, Inc. |
207 | 10,455 | ||||||
|
Number |
Value |
|||||||
| Materials (Continued) | ||||||||
|
Freeport-McMoRan, Inc. |
623 | $ | 24,864 | |||||
|
Linde PLC |
128 | 49,541 | ||||||
|
|
|
|||||||
|
(Cost $125,217) |
129,361 | |||||||
|
|
|
|||||||
| Real Estate — 0.6% | ||||||||
|
American Tower Corp. REIT |
109 | 19,764 | ||||||
|
Extra Space Storage, Inc. REIT |
45 | 5,791 | ||||||
|
Iron Mountain, Inc. REIT |
77 | 4,892 | ||||||
|
SBA Communications Corp. REIT |
25 | 5,613 | ||||||
|
Weyerhaeuser Co. REIT |
176 | 5,764 | ||||||
|
|
|
|||||||
|
(Cost $44,506) |
41,824 | |||||||
|
|
|
|||||||
| Utilities — 0.2% | ||||||||
|
Sempra |
||||||||
|
(Cost $12,284) |
158 | 11,095 | ||||||
|
|
|
|||||||
|
TOTAL
COMMON STOCKS |
6,555,280 | |||||||
|
|
|
|||||||
| EXCHANGE-TRADED FUNDS — 0.1% | ||||||||
|
SPDR Portfolio S&P 500 Growth ETF |
18 | 1,125 | ||||||
|
Vanguard S&P 500 Growth ETF |
1,561 | |||||||
|
|
|
|||||||
|
(Cost $2,397) |
6 | 2,686 | ||||||
|
|
|
|||||||
| CASH EQUIVALENTS — 0.0% | ||||||||
|
DWS
Government Money Market Series |
1,630 | 1,630 | ||||||
|
|
|
|||||||
|
TOTAL INVESTMENTS — 99.9% (Cost $5,456,358) |
$ | 6,559,596 | ||||||
|
Other assets and liabilities, net — 0.1% |
7,533 | |||||||
|
|
|
|||||||
|
NET ASSETS — 100.0% |
$ | 6,567,129 | ||||||
|
|
|
|||||||
A summary of the Fund’s transactions with affiliated investments during the period ended August 31, 2023 is as follows:
| Value ($) at 11/9/2022 (Commencement of Operations) |
Purchases Cost ($) |
Sales Proceeds ($) |
Net Realized Gain/(Loss) ($) |
Net Change in Unrealized Appreciation (Depreciation) ($) |
Income ($) | Capital Gain Distributions ($) |
Number of Shares at 8/31/2023 |
Value ($) at 8/31/2023 |
||||||||||||||||||||||||||||
|
SECURITIES LENDING COLLATERAL — 0.0% |
|
|||||||||||||||||||||||||||||||||||
|
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares, 5.27% (a)(b) |
| |||||||||||||||||||||||||||||||||||
| — | — | 0 | (c) | — | — | 1 | — | — | — | |||||||||||||||||||||||||||
|
CASH EQUIVALENTS —0.0% |
|
|||||||||||||||||||||||||||||||||||
|
DWS Government Money Market Series “Institutional Shares”, 5.28% (a) |
| |||||||||||||||||||||||||||||||||||
| — | 81,207 | (79,577 | ) | — | — | 109 | — | 1,630 | 1,630 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| — | 81,207 | (79,577 | ) | — | — | 110 | — | 1,630 | 1,630 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| * |
Non-income producing security. |
| (a) |
Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
| (b) |
Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. |
| (c) |
Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended August 31, 2023. |
|
REIT: Real Estate Investment Trust |
| See Notes to Financial Statements. | 23 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P 500 Growth ESG ETF (Continued)
August 31, 2023
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 August 31, 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) |
$ | 6,555,280 | $ | — | $ | — | $ | 6,555,280 | ||||||||
|
Exchange-Traded Funds |
2,686 | — | — | 2,686 | ||||||||||||
|
Short-Term Investments (a) |
1,630 | — | — | 1,630 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
TOTAL |
$ | 6,559,596 | $ | — | $ | — | $ | 6,559,596 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
See Schedule of Investments for additional detailed categorizations. |
| See Notes to Financial Statements. | 24 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P 500 Value ESG ETF
August 31, 2023
|
Number |
Value |
|||||||
| COMMON STOCKS — 99.5% | ||||||||
| Communication Services — 8.1% | ||||||||
|
AT&T, Inc. |
3,185 | $ | 47,106 | |||||
|
Charter Communications, Inc., Class A* |
47 | 20,592 | ||||||
|
Comcast Corp., Class A |
1,880 | 87,909 | ||||||
|
Electronic Arts, Inc. |
37 | 4,439 | ||||||
|
Fox Corp., Class A |
133 | 4,397 | ||||||
|
Fox Corp., Class B |
62 | 1,892 | ||||||
|
Interpublic Group of Cos., Inc. |
174 | 5,674 | ||||||
|
Live Nation Entertainment, Inc.* |
64 | 5,410 | ||||||
|
Match Group, Inc.* |
125 | 5,859 | ||||||
|
Netflix, Inc.* |
199 | 86,302 | ||||||
|
News Corp., Class A |
171 | 3,675 | ||||||
|
News Corp., Class B |
53 | 1,166 | ||||||
|
Omnicom Group, Inc. |
91 | 7,372 | ||||||
|
Paramount Global, Class B |
226 | 3,410 | ||||||
|
Verizon Communications, Inc. |
1,877 | 65,658 | ||||||
|
Walt Disney Co.* |
816 | 68,283 | ||||||
|
Warner Bros Discovery, Inc.* |
987 | 12,969 | ||||||
|
|
|
|||||||
|
(Cost $401,435) |
432,113 | |||||||
|
|
|
|||||||
| Consumer Discretionary — 12.8% | ||||||||
|
Amazon.com, Inc.* |
2,162 | 298,378 | ||||||
|
Aptiv PLC* |
121 | 12,275 | ||||||
|
Best Buy Co., Inc. |
88 | 6,728 | ||||||
|
BorgWarner, Inc. |
105 | 4,279 | ||||||
|
Caesars Entertainment, Inc.* |
96 | 5,305 | ||||||
|
Carnival Corp.* |
448 | 7,087 | ||||||
|
Darden Restaurants, Inc. |
54 | 8,398 | ||||||
|
eBay, Inc. |
242 | 10,837 | ||||||
|
Etsy, Inc.* |
24 | 1,766 | ||||||
|
General Motors Co. |
623 | 20,877 | ||||||
|
Hasbro, Inc. |
58 | 4,176 | ||||||
|
Hilton Worldwide Holdings, Inc. |
62 | 9,216 | ||||||
|
Home Depot, Inc. |
214 | 70,684 | ||||||
|
Las Vegas Sands Corp. |
147 | 8,064 | ||||||
|
Lowe’s Cos., Inc. |
84 | 19,360 | ||||||
|
Marriott International, Inc., Class A |
56 | 11,397 | ||||||
|
McDonald’s Corp. |
124 | 34,863 | ||||||
|
MGM Resorts International |
141 | 6,201 | ||||||
|
Mohawk Industries, Inc.* |
24 | 2,433 | ||||||
|
Newell Brands, Inc. |
168 | 1,777 | ||||||
|
NIKE, Inc., Class B |
552 | 56,144 | ||||||
|
Norwegian Cruise Line Holdings Ltd.* |
188 | 3,115 | ||||||
|
PulteGroup, Inc. |
101 | 8,288 | ||||||
|
Ralph Lauren Corp. |
19 | 2,216 | ||||||
|
Royal Caribbean Cruises Ltd.* |
98 | 9,696 | ||||||
|
Starbucks Corp. |
252 | 24,555 | ||||||
|
Tapestry, Inc. |
105 | 3,499 | ||||||
|
TJX Cos., Inc. |
186 | 17,201 | ||||||
|
VF Corp. |
148 | 2,924 | ||||||
|
Whirlpool Corp. |
24 | 3,359 | ||||||
|
Yum! Brands, Inc. |
45 | 5,822 | ||||||
|
|
|
|||||||
|
(Cost $585,041) |
680,920 | |||||||
|
|
|
|||||||
| Consumer Staples — 7.4% | ||||||||
|
Archer-Daniels-Midland Co. |
125 | 9,913 | ||||||
|
Brown-Forman Corp., Class B |
37 | 2,447 | ||||||
|
Number |
Value |
|||||||
| Consumer Staples (Continued) | ||||||||
|
Bunge Ltd. |
39 | $ | 4,458 | |||||
|
Campbell Soup Co. |
37 | 1,543 | ||||||
|
Coca-Cola Co. |
609 | 36,436 | ||||||
|
Colgate-Palmolive Co. |
168 | 12,343 | ||||||
|
Conagra Brands, Inc. |
213 | 6,364 | ||||||
|
Constellation Brands, Inc., Class A |
32 | 8,338 | ||||||
|
Estee Lauder Cos., Inc., Class A |
104 | 16,695 | ||||||
|
General Mills, Inc. |
84 | 5,683 | ||||||
|
Hormel Foods Corp. |
42 | 1,621 | ||||||
|
J M Smucker Co. |
48 | 6,958 | ||||||
|
Kellogg Co. |
51 | 3,112 | ||||||
|
Keurig Dr Pepper, Inc. |
190 | 6,394 | ||||||
|
Kraft Heinz Co. |
356 | 11,780 | ||||||
|
Kroger Co. |
291 | 13,500 | ||||||
|
McCormick & Co., Inc. |
55 | 4,514 | ||||||
|
Molson Coors Beverage Co., Class B |
84 | 5,333 | ||||||
|
Mondelez International, Inc., Class A |
280 | 19,953 | ||||||
|
Procter & Gamble Co. |
474 | 73,157 | ||||||
|
Target Corp. |
206 | 26,069 | ||||||
|
Tyson Foods, Inc., Class A |
128 | 6,819 | ||||||
|
Walgreens Boots Alliance, Inc. |
320 | 8,099 | ||||||
|
Walmart, Inc. |
632 | 102,770 | ||||||
|
|
|
|||||||
|
(Cost $398,265) |
394,299 | |||||||
|
|
|
|||||||
| Energy — 1.9% | ||||||||
|
Baker Hughes Co. |
450 | 16,286 | ||||||
|
Halliburton Co. |
404 | 15,603 | ||||||
|
Kinder Morgan, Inc. |
884 | 15,222 | ||||||
|
Marathon Petroleum Corp. |
99 | 14,134 | ||||||
|
Phillips 66 |
208 | 23,745 | ||||||
|
Schlumberger NV |
298 | 17,570 | ||||||
|
|
|
|||||||
|
(Cost $93,186) |
102,560 | |||||||
|
|
|
|||||||
| Financials — 19.0% | ||||||||
|
Aflac, Inc. |
250 | 18,642 | ||||||
|
Allstate Corp. |
118 | 12,722 | ||||||
|
American Express Co. |
136 | 21,487 | ||||||
|
American International Group, Inc. |
323 | 18,902 | ||||||
|
Arthur J Gallagher & Co. |
34 | 7,836 | ||||||
|
Assurant, Inc. |
24 | 3,344 | ||||||
|
Bank of America Corp. |
3,104 | 88,992 | ||||||
|
Bank of New York Mellon Corp. |
329 | 14,762 | ||||||
|
BlackRock, Inc. |
67 | 46,936 | ||||||
|
Capital One Financial Corp. |
170 | 17,406 | ||||||
|
Cboe Global Markets, Inc. |
16 | 2,395 | ||||||
|
Charles Schwab Corp. |
279 | 16,503 | ||||||
|
Chubb Ltd. |
80 | 16,070 | ||||||
|
Citigroup, Inc. |
866 | 35,757 | ||||||
|
CME Group, Inc. |
161 | 32,631 | ||||||
|
Discover Financial Services |
50 | 4,503 | ||||||
|
FactSet Research Systems, Inc. |
7 | 3,055 | ||||||
|
Fidelity National Information Services, Inc. |
265 | 14,803 | ||||||
|
Fifth Third Bancorp |
305 | 8,098 | ||||||
|
Fiserv, Inc.* |
88 | 10,682 | ||||||
|
Franklin Resources, Inc. |
127 | 3,396 | ||||||
|
Global Payments, Inc. |
118 | 14,949 | ||||||
| See Notes to Financial Statements. | 25 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P 500 Value ESG ETF (Continued)
August 31, 2023
|
Number |
Value |
|||||||
| Financials (Continued) | ||||||||
|
Globe Life, Inc. |
14 | $ | 1,562 | |||||
|
Goldman Sachs Group, Inc. |
149 | 48,829 | ||||||
|
Hartford Financial Services Group, Inc. |
141 | 10,127 | ||||||
|
Intercontinental Exchange, Inc. |
250 | 29,498 | ||||||
|
Invesco Ltd. |
203 | 3,232 | ||||||
|
JPMorgan Chase & Co. |
1,311 | 191,839 | ||||||
|
Lincoln National Corp. |
60 | 1,540 | ||||||
|
M&T Bank Corp. |
76 | 9,504 | ||||||
|
MarketAxess Holdings, Inc. |
9 | 2,168 | ||||||
|
MetLife, Inc. |
285 | 18,052 | ||||||
|
Moody’s Corp. |
37 | 12,462 | ||||||
|
Morgan Stanley |
584 | 49,728 | ||||||
|
MSCI, Inc. |
15 | 8,154 | ||||||
|
Nasdaq, Inc. |
55 | 2,886 | ||||||
|
Northern Trust Corp. |
93 | 7,075 | ||||||
|
PayPal Holdings, Inc.* |
500 | 31,255 | ||||||
|
PNC Financial Services Group, Inc. |
179 | 21,611 | ||||||
|
Principal Financial Group, Inc. |
40 | 3,108 | ||||||
|
Prudential Financial, Inc. |
160 | 15,147 | ||||||
|
Regions Financial Corp. |
417 | 7,648 | ||||||
|
S&P Global, Inc. |
147 | 57,456 | ||||||
|
State Street Corp. |
149 | 10,242 | ||||||
|
Synchrony Financial |
195 | 6,295 | ||||||
|
T. Rowe Price Group, Inc. |
100 | 11,223 | ||||||
|
Travelers Cos., Inc. |
48 | 7,739 | ||||||
|
Truist Financial Corp. |
593 | 18,116 | ||||||
|
Willis Towers Watson PLC |
48 | 9,924 | ||||||
|
|
|
|||||||
|
(Cost $1,049,084) |
1,010,291 | |||||||
|
|
|
|||||||
| Health Care — 8.5% | ||||||||
|
Abbott Laboratories |
374 | 38,485 | ||||||
|
Agilent Technologies, Inc. |
53 | 6,417 | ||||||
|
Baxter International, Inc. |
226 | 9,176 | ||||||
|
Becton Dickinson and Co. |
127 | 35,490 | ||||||
|
Biogen, Inc.* |
34 | 9,090 | ||||||
|
Bio-Rad Laboratories, Inc., Class A* |
10 | 4,002 | ||||||
|
Bio-Techne Corp. |
37 | 2,901 | ||||||
|
Boston Scientific Corp.* |
301 | 16,236 | ||||||
|
Cardinal Health, Inc. |
115 | 10,043 | ||||||
|
Catalent, Inc.* |
80 | 3,998 | ||||||
|
Cencora, Inc. |
72 | 12,671 | ||||||
|
Centene Corp.* |
246 | 15,166 | ||||||
|
Cigna Group |
68 | 18,786 | ||||||
|
CVS Health Corp. |
574 | 37,408 | ||||||
|
DaVita, Inc.* |
24 | 2,458 | ||||||
|
Edwards Lifesciences Corp.* |
276 | 21,106 | ||||||
|
Henry Schein, Inc.* |
61 | 4,669 | ||||||
|
Humana, Inc. |
20 | 9,233 | ||||||
|
IDEXX Laboratories, Inc.* |
19 | 9,717 | ||||||
|
Illumina, Inc.* |
70 | 11,565 | ||||||
|
IQVIA Holdings, Inc.* |
43 | 9,573 | ||||||
|
Medtronic PLC |
594 | 48,411 | ||||||
|
Mettler-Toledo International, Inc.* |
3 | 3,640 | ||||||
|
Organon & Co. |
114 | 2,503 | ||||||
|
Quest Diagnostics, Inc. |
17 | 2,235 | ||||||
|
Stryker Corp. |
151 | 42,816 | ||||||
|
Teleflex, Inc. |
21 | 4,467 | ||||||
|
Number |
Value |
|||||||
| Health Care (Continued) | ||||||||
|
Viatris, Inc. |
542 | $ | 5,826 | |||||
|
Zimmer Biomet Holdings, Inc. |
94 | 11,197 | ||||||
|
Zoetis, Inc. |
208 | 39,626 | ||||||
|
|
|
|||||||
|
(Cost $467,764) |
448,911 | |||||||
|
|
|
|||||||
| Industrials — 10.9% | ||||||||
|
Alaska Air Group, Inc.* |
57 | 2,392 | ||||||
|
American Airlines Group, Inc.* |
291 | 4,286 | ||||||
|
Broadridge Financial Solutions, Inc. |
27 | 5,028 | ||||||
|
C.H. Robinson Worldwide, Inc. |
24 | 2,170 | ||||||
|
Carrier Global Corp. |
373 | 21,429 | ||||||
|
Caterpillar, Inc. |
93 | 26,145 | ||||||
|
Cintas Corp. |
16 | 8,067 | ||||||
|
CSX Corp. |
489 | 14,768 | ||||||
|
Cummins, Inc. |
31 | 7,131 | ||||||
|
Dover Corp. |
62 | 9,195 | ||||||
|
Eaton Corp. PLC |
178 | 41,006 | ||||||
|
Emerson Electric Co. |
255 | 25,054 | ||||||
|
Fortive Corp. |
158 | 12,458 | ||||||
|
Generac Holdings, Inc.* |
28 | 3,327 | ||||||
|
General Electric Co. |
487 | 55,742 | ||||||
|
IDEX Corp. |
14 | 3,170 | ||||||
|
Illinois Tool Works, Inc. |
61 | 15,088 | ||||||
|
Ingersoll Rand, Inc. |
190 | 13,226 | ||||||
|
Johnson Controls International PLC |
307 | 18,131 | ||||||
|
Nordson Corp. |
24 | 5,859 | ||||||
|
Norfolk Southern Corp. |
102 | 20,911 | ||||||
|
Otis Worldwide Corp. |
185 | 15,827 | ||||||
|
PACCAR, Inc. |
233 | 19,174 | ||||||
|
Parker-Hannifin Corp. |
57 | 23,763 | ||||||
|
Paychex, Inc. |
62 | 7,578 | ||||||
|
Pentair PLC |
74 | 5,199 | ||||||
|
Republic Services, Inc. |
41 | 5,909 | ||||||
|
Robert Half, Inc. |
48 | 3,550 | ||||||
|
Rockwell Automation, Inc. |
51 | 15,916 | ||||||
|
Stanley Black & Decker, Inc. |
66 | 6,229 | ||||||
|
Trane Technologies PLC |
102 | 20,937 | ||||||
|
Union Pacific Corp. |
137 | 30,218 | ||||||
|
United Parcel Service, Inc., Class B |
326 | 55,224 | ||||||
|
United Rentals, Inc. |
31 | 14,773 | ||||||
|
Verisk Analytics, Inc. |
35 | 8,478 | ||||||
|
Waste Management, Inc. |
68 | 10,661 | ||||||
|
Westinghouse Air Brake Technologies Corp. |
81 | 9,114 | ||||||
|
Xylem, Inc. |
105 | 10,872 | ||||||
|
|
|
|||||||
|
(Cost $491,841) |
578,005 | |||||||
|
|
|
|||||||
| Information Technology — 19.7% | ||||||||
|
Adobe, Inc.* |
108 | 60,409 | ||||||
|
Advanced Micro Devices, Inc.* |
331 | 34,993 | ||||||
|
Akamai Technologies, Inc.* |
70 | 7,356 | ||||||
|
Analog Devices, Inc. |
120 | 21,814 | ||||||
|
Autodesk, Inc.* |
43 | 9,543 | ||||||
|
Cisco Systems, Inc. |
1,836 | 105,295 | ||||||
|
Corning, Inc. |
340 | 11,159 | ||||||
|
Gen Digital, Inc. |
119 | 2,410 | ||||||
|
Hewlett Packard Enterprise Co. |
573 | 9,735 | ||||||
| See Notes to Financial Statements. | 26 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P 500 Value ESG ETF (Continued)
August 31, 2023
|
Number |
Value |
|||||||
| Information Technology (Continued) | ||||||||
|
HP, Inc. |
386 | $ | 11,468 | |||||
|
Intel Corp. |
1,875 | 65,888 | ||||||
|
Intuit, Inc. |
59 | 31,967 | ||||||
|
Keysight Technologies, Inc.* |
37 | 4,932 | ||||||
|
Microchip Technology, Inc. |
125 | 10,230 | ||||||
|
Micron Technology, Inc. |
488 | 34,131 | ||||||
|
Microsoft Corp. |
1,401 | 459,192 | ||||||
|
Motorola Solutions, Inc. |
34 | 9,641 | ||||||
|
NXP Semiconductors NV |
47 | 9,669 | ||||||
|
Salesforce, Inc.* |
439 | 97,221 | ||||||
|
TE Connectivity Ltd. |
141 | 18,667 | ||||||
|
Teradyne, Inc. |
35 | 3,775 | ||||||
|
Texas Instruments, Inc. |
150 | 25,209 | ||||||
|
Tyler Technologies, Inc.* |
10 | 3,984 | ||||||
|
|
|
|||||||
|
(Cost $905,371) |
1,048,688 | |||||||
|
|
|
|||||||
| Materials — 3.2% | ||||||||
|
Amcor PLC |
664 | 6,467 | ||||||
|
Ball Corp. |
140 | 7,623 | ||||||
|
Corteva, Inc. |
99 | 5,001 | ||||||
|
Dow, Inc. |
315 | 17,186 | ||||||
|
Ecolab, Inc. |
111 | 20,403 | ||||||
|
International Flavors & Fragrances, Inc. |
114 | 8,031 | ||||||
|
Linde PLC |
86 | 33,285 | ||||||
|
LyondellBasell Industries NV, Class A |
113 | 11,161 | ||||||
|
Newmont Corp. |
355 | 13,994 | ||||||
|
PPG Industries, Inc. |
105 | 14,885 | ||||||
|
Sherwin-Williams Co. |
105 | 28,531 | ||||||
|
Westrock Co. |
114 | 3,729 | ||||||
|
|
|
|||||||
|
(Cost $155,673) |
170,296 | |||||||
|
|
|
|||||||
| Real Estate — 4.9% | ||||||||
|
Alexandria Real Estate Equities, Inc. REIT |
70 | 8,144 | ||||||
|
American Tower Corp. REIT |
98 | 17,769 | ||||||
|
AvalonBay Communities, Inc. REIT |
63 | 11,581 | ||||||
|
Boston Properties, Inc. REIT |
64 | 4,273 | ||||||
|
CBRE Group, Inc., Class A* |
141 | 11,992 | ||||||
|
Digital Realty Trust, Inc. REIT |
128 | 16,860 | ||||||
|
Equinix, Inc. REIT |
42 | 32,818 | ||||||
|
Equity Residential REIT |
152 | 9,854 | ||||||
|
Essex Property Trust, Inc. REIT |
29 | 6,913 | ||||||
|
Extra Space Storage, Inc. REIT |
47 | 6,048 | ||||||
|
Federal Realty Investment Trust REIT |
33 | 3,232 | ||||||
|
Number |
Value |
|||||||
| Real Estate (Continued) | ||||||||
|
Healthpeak Properties, Inc. REIT |
244 | $ | 5,022 | |||||
|
Host Hotels & Resorts, Inc. REIT |
320 | 5,053 | ||||||
|
Iron Mountain, Inc. REIT |
52 | 3,304 | ||||||
|
Kimco Realty Corp. REIT |
276 | 5,227 | ||||||
|
Prologis, Inc. REIT |
412 | 51,170 | ||||||
|
Regency Centers Corp. REIT |
69 | 4,292 | ||||||
|
SBA Communications Corp. REIT |
21 | 4,715 | ||||||
|
Simon Property Group, Inc. REIT |
146 | 16,570 | ||||||
|
UDR, Inc. REIT |
138 | 5,506 | ||||||
|
Ventas, Inc. REIT |
179 | 7,819 | ||||||
|
Welltower, Inc. REIT |
223 | 18,482 | ||||||
|
Weyerhaeuser Co. REIT |
141 | 4,618 | ||||||
|
|
|
|||||||
|
(Cost $251,078) |
261,262 | |||||||
|
|
|
|||||||
| Utilities — 3.1% | ||||||||
|
American Water Works Co., Inc. |
86 | 11,932 | ||||||
|
CenterPoint Energy, Inc. |
281 | 7,837 | ||||||
|
Constellation Energy Corp. |
146 | 15,207 | ||||||
|
Edison International |
171 | 11,773 | ||||||
|
Entergy Corp. |
95 | 9,049 | ||||||
|
Eversource Energy |
156 | 9,956 | ||||||
|
Exelon Corp. |
444 | 17,813 | ||||||
|
NextEra Energy, Inc. |
910 | 60,788 | ||||||
|
Public Service Enterprise Group, Inc. |
223 | 13,621 | ||||||
|
Sempra |
112 | 7,865 | ||||||
|
|
|
|||||||
|
(Cost $174,030) |
165,841 | |||||||
|
|
|
|||||||
|
TOTAL
COMMON STOCKS |
5,293,186 | |||||||
|
|
|
|||||||
| EXCHANGE-TRADED FUNDS — 0.3% | ||||||||
|
SPDR
Portfolio S&P 500 Value ETF |
350 | 15,215 | ||||||
|
|
|
|||||||
| CASH EQUIVALENTS — 0.0% | ||||||||
|
DWS
Government Money Market Series |
493 | 493 | ||||||
|
|
|
|||||||
|
TOTAL INVESTMENTS — 99.8% (Cost $4,988,464) |
$ | 5,308,894 | ||||||
|
Other assets and liabilities, net — 0.2% |
8,665 | |||||||
|
|
|
|||||||
|
NET ASSETS — 100.0% |
$ | 5,317,559 | ||||||
|
|
|
|||||||
A summary of the Fund’s transactions with affiliated investments during the period ended August 31, 2023 is as follows:
| Value ($) at 11/9/2022 (Commencement of Operations) |
Purchases Cost ($) |
Sales Proceeds ($) |
Net Realized Gain/(Loss) ($) |
Net Change in Unrealized Appreciation (Depreciation) ($) |
Income ($) | Capital Gain Distributions ($) |
Number of Shares at 8/31/2023 |
Value ($) at 8/31/2023 |
||||||||||||||||||||||||||||
|
SECURITIES LENDING COLLATERAL — 0.0% |
| |||||||||||||||||||||||||||||||||||
|
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares, 5.27% (a)(b) |
| |||||||||||||||||||||||||||||||||||
| — | — | 0 | (c) | — | — | 3 | — | — | — | |||||||||||||||||||||||||||
| CASH EQUIVALENTS — 0.0% |
| |||||||||||||||||||||||||||||||||||
|
DWS Government Money Market Series “Institutional Shares”, 5.28% (a) |
| |||||||||||||||||||||||||||||||||||
| — | 145,924 | (145,431 | ) | — | — | 107 | — | 493 | 493 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
| — | 145,924 | (145,430 | ) | — | — | 110 | — | 493 | 493 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
| See Notes to Financial Statements. | 27 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P 500 Value ESG ETF (Continued)
August 31, 2023
| * |
Non-income producing security. |
| (a) |
Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
| (b) |
Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. |
| (c) |
Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended August 31, 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 August 31, 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) |
$ | 5,293,186 | $ | — | $ | — | $ | 5,293,186 | ||||||||
|
Exchange-Traded Funds |
15,215 | — | 15,215 | |||||||||||||
|
Short-Term Investments (a) |
493 | — | — | 493 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
TOTAL |
$ | 5,308,894 | $ | — | $ | — | $ | 5,308,894 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
See Schedule of Investments for additional detailed categorizations. |
| See Notes to Financial Statements. | 28 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P ESG Dividend Aristocrats ETF
August 31, 2023
|
Number |
Value |
|||||||
| COMMON STOCKS — 99.5% | ||||||||
| Communication Services — 0.5% | ||||||||
|
John
Wiley & Sons, Inc., Class A |
639 | $ | 23,745 | |||||
|
|
|
|||||||
| Consumer Discretionary — 7.1% | ||||||||
|
Genuine Parts Co. |
403 | 61,953 | ||||||
|
Leggett & Platt, Inc. |
2,269 | 63,986 | ||||||
|
Lowe’s Cos., Inc. |
277 | 63,843 | ||||||
|
McDonald’s Corp. |
239 | 67,195 | ||||||
|
NIKE, Inc., Class B |
267 | 27,156 | ||||||
|
Polaris, Inc. |
644 | 72,186 | ||||||
|
|
|
|||||||
|
(Cost $368,485) |
356,319 | |||||||
|
|
|
|||||||
| Consumer Staples — 21.0% | ||||||||
|
Archer-Daniels-Midland Co. |
521 | 41,315 | ||||||
|
Brown-Forman Corp., Class B |
530 | 35,049 | ||||||
|
Church & Dwight Co., Inc. |
460 | 44,514 | ||||||
|
Coca-Cola Co. |
1,250 | 74,787 | ||||||
|
Colgate-Palmolive Co. |
907 | 66,637 | ||||||
|
Flowers Foods, Inc. |
3,376 | 79,539 | ||||||
|
Hormel Foods Corp. |
1,565 | 60,393 | ||||||
|
J M Smucker Co. |
502 | 72,765 | ||||||
|
Kimberly-Clark Corp. |
724 | 93,273 | ||||||
|
McCormick & Co., Inc. |
681 | 55,896 | ||||||
|
PepsiCo, Inc. |
417 | 74,193 | ||||||
|
Procter & Gamble Co. |
482 | 74,392 | ||||||
|
Sysco Corp. |
966 | 67,282 | ||||||
|
Target Corp. |
512 | 64,794 | ||||||
|
Walgreens Boots Alliance, Inc. |
3,863 | 97,773 | ||||||
|
Walmart, Inc. |
318 | 51,710 | ||||||
|
|
|
|||||||
|
(Cost $1,141,276) |
1,054,312 | |||||||
|
|
|
|||||||
| Energy — 3.4% | ||||||||
|
Chevron Corp. |
485 | 78,133 | ||||||
|
Exxon Mobil Corp. |
819 | 91,065 | ||||||
|
|
|
|||||||
|
(Cost $181,445) |
169,198 | |||||||
|
|
|
|||||||
| Financials — 11.3% | ||||||||
|
Aflac, Inc. |
882 | 65,771 | ||||||
|
Chubb Ltd. |
182 | 36,558 | ||||||
|
Cincinnati Financial Corp. |
743 | 78,602 | ||||||
|
Commerce Bancshares, Inc. |
648 | 31,810 | ||||||
|
FactSet Research Systems, Inc. |
56 | 24,439 | ||||||
|
Franklin Resources, Inc. |
3,911 | 104,580 | ||||||
|
S&P Global, Inc. |
74 | 28,924 | ||||||
|
SEI Investments Co. |
620 | 38,477 | ||||||
|
T. Rowe Price Group, Inc. |
1,005 | 112,791 | ||||||
|
UMB Financial Corp. |
454 | 28,698 | ||||||
|
W R Berkley Corp. |
213 | 13,176 | ||||||
|
|
|
|||||||
|
(Cost $568,616) |
563,826 | |||||||
|
|
|
|||||||
| Health Care — 7.5% | ||||||||
|
Abbott Laboratories |
417 | 42,909 | ||||||
|
AbbVie, Inc. |
661 | 97,141 | ||||||
|
Becton Dickinson and Co. |
156 | 43,594 | ||||||
|
Cardinal Health, Inc. |
942 | 82,265 | ||||||
|
Medtronic PLC |
1,169 | 95,273 | ||||||
|
Number |
Value |
|||||||
| Health Care (Continued) | ||||||||
|
West Pharmaceutical Services, Inc. |
33 | $ | 13,428 | |||||
|
|
|
|||||||
|
(Cost $352,367) |
374,610 | |||||||
|
|
|
|||||||
| Industrials — 21.0% | ||||||||
|
ABM Industries, Inc. |
856 | 38,880 | ||||||
|
Automatic Data Processing, Inc. |
242 | 61,616 | ||||||
|
Brady Corp., Class A |
488 | 24,615 | ||||||
|
C.H. Robinson Worldwide, Inc. |
814 | 73,610 | ||||||
|
Carlisle Cos., Inc. |
152 | 39,979 | ||||||
|
Caterpillar, Inc. |
222 | 62,411 | ||||||
|
Cintas Corp. |
67 | 33,779 | ||||||
|
Dover Corp. |
310 | 45,973 | ||||||
|
Emerson Electric Co. |
709 | 69,659 | ||||||
|
Expeditors International of Washington, Inc. |
333 | 38,864 | ||||||
|
Fastenal Co. |
1,571 | 90,458 | ||||||
|
Franklin Electric Co., Inc. |
342 | 33,075 | ||||||
|
Illinois Tool Works, Inc. |
310 | 76,678 | ||||||
|
Lincoln Electric Holdings, Inc. |
325 | 62,550 | ||||||
|
MSA Safety, Inc. |
293 | 53,525 | ||||||
|
Nordson Corp. |
141 | 34,424 | ||||||
|
Pentair PLC |
1,169 | 82,134 | ||||||
|
Stanley Black & Decker, Inc. |
1,379 | 130,150 | ||||||
|
|
|
|||||||
|
(Cost $924,592) |
1,052,380 | |||||||
|
|
|
|||||||
| Information Technology — 5.1% | ||||||||
|
Badger Meter, Inc. |
197 | 32,718 | ||||||
|
International Business Machines Corp. |
960 | 140,957 | ||||||
|
Microchip Technology, Inc. |
785 | 64,245 | ||||||
|
Roper Technologies, Inc. |
40 | 19,962 | ||||||
|
|
|
|||||||
|
(Cost $231,761) |
257,882 | |||||||
|
|
|
|||||||
| Materials — 12.5% | ||||||||
|
Air Products and Chemicals, Inc. |
196 | 57,916 | ||||||
|
Albemarle Corp. |
92 | 18,281 | ||||||
|
Amcor PLC |
10,282 | 100,147 | ||||||
|
AptarGroup, Inc. |
341 | 45,203 | ||||||
|
Ecolab, Inc. |
275 | 50,548 | ||||||
|
HB Fuller Co. |
442 | 32,058 | ||||||
|
International Flavors & Fragrances, Inc. |
721 | 50,794 | ||||||
|
Linde PLC |
122 | 47,219 | ||||||
|
Nucor Corp. |
301 | 51,802 | ||||||
|
PPG Industries, Inc. |
409 | 57,980 | ||||||
|
Sherwin-Williams Co. |
114 | 30,976 | ||||||
|
Sonoco Products Co. |
1,142 | 65,608 | ||||||
|
Stepan Co. |
200 | 17,454 | ||||||
|
|
|
|||||||
|
(Cost $647,692) |
625,986 | |||||||
|
|
|
|||||||
| Real Estate — 4.6% | ||||||||
|
Essex Property Trust, Inc. REIT |
516 | 123,009 | ||||||
|
Federal Realty Investment Trust REIT |
1,086 | 106,363 | ||||||
|
|
|
|||||||
|
(Cost $231,510) |
229,372 | |||||||
|
|
|
|||||||
| Utilities — 5.5% | ||||||||
|
California Water Service Group |
563 | 28,291 | ||||||
|
Consolidated Edison, Inc. |
936 | 83,266 | ||||||
|
Essential Utilities, Inc. |
1,414 | 52,177 | ||||||
|
Eversource Energy |
1,051 | 67,075 | ||||||
| See Notes to Financial Statements. | 29 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P ESG Dividend Aristocrats ETF (Continued)
August 31, 2023
|
Number |
Value |
|||||||
| Utilities (Continued) | ||||||||
|
NextEra Energy, Inc. |
701 | $ | 46,827 | |||||
|
|
|
|||||||
|
(Cost $320,337) |
277,636 | |||||||
|
|
|
|||||||
|
TOTAL
COMMON STOCKS |
4,985,266 | |||||||
|
|
|
|||||||
|
EXCHANGE-TRADED FUNDS — 0.3% |
||||||||
|
ProShares
S&P 500 Dividend Aristocrats ETF |
150 | 14,169 | ||||||
|
|
|
|||||||
|
Number |
Value |
|||||||
| CASH EQUIVALENTS — 0.0% | ||||||||
|
DWS
Government Money Market Series “Institutional Shares”, 5.28% (a) |
1,971 | $ | 1,971 | |||||
|
|
|
|||||||
|
TOTAL INVESTMENTS — 99.8% |
||||||||
|
(Cost $5,011,401) |
$ | 5,001,406 | ||||||
|
Other assets and liabilities, net — 0.2% |
9,544 | |||||||
|
|
|
|||||||
|
NET ASSETS — 100.0% |
$ | 5,010,950 | ||||||
|
|
|
|||||||
A summary of the Fund’s transactions with affiliated investments during the period ended August 31, 2023 is as follows:
| Value ($) at 11/9/2022 (Commencement of Operations) |
Purchases Cost ($) |
Sales Proceeds ($) |
Net Realized Gain/(Loss) ($) |
Net Change in Unrealized Appreciation (Depreciation) ($) |
Income ($) | Capital Gain Distributions ($) |
Number of Shares at 8/31/2023 |
Value ($) at 8/31/2023 |
||||||||||||||||||||||||||||
|
EXCHANGE-TRADED FUNDS — 0.0% Xtrackers S&P 500 ESG ETF (b) |
| |||||||||||||||||||||||||||||||||||
| — | 24,714 | (25,559 | ) | 845 | — | 45 | — | — | — | |||||||||||||||||||||||||||
|
Xtrackers S&P 500 Value ESG ETF (b) |
| |||||||||||||||||||||||||||||||||||
| — | 10,114 | (10,276 | ) | 162 | — | 73 | — | — | — | |||||||||||||||||||||||||||
|
SECURITIES LENDING COLLATERAL — 0.0% |
| |||||||||||||||||||||||||||||||||||
|
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.27% (a)(c) |
| |||||||||||||||||||||||||||||||||||
| — | — | 0 | (d) | — | — | 5 | — | — | — | |||||||||||||||||||||||||||
|
CASH EQUIVALENTS — 0.0% |
| |||||||||||||||||||||||||||||||||||
|
DWS Government Money Market Series “Institutional Shares”, 5.28% (a) |
| |||||||||||||||||||||||||||||||||||
| — | 162,132 | (160,161 | ) | — | — | 163 | — | 1,971 | 1,971 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
| — | 196,960 | (195,996) | 1,007 | — | 286 | — | 1,971 | 1,971 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
| (a) |
Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
| (b) |
Affiliated fund advised by DBX Advisors LLC. |
| (c) |
Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. |
| (d) |
Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended August 31, 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 August 31, 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) |
$ | 4,985,266 | $ | — | $ | — | $ | 4,985,266 | ||||||||
|
Exchange-Traded Funds |
14,169 | — | — | 14,169 | ||||||||||||
|
Short-Term Investments (a) |
1,971 | — | — | 1,971 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
TOTAL |
$ | 5,001,406 | $ | — | $ | — | $ | 5,001,406 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
See Schedule of Investments for additional detailed categorizations. |
| See Notes to Financial Statements. | 30 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P MidCap 400 ESG ETF
August 31, 2023
|
Number |
Value |
|||||||
| COMMON STOCKS — 99.3% | ||||||||
| Communication Services — 1.9% | ||||||||
|
Cable One, Inc. |
36 | $ | 23,420 | |||||
|
Iridium Communications, Inc. |
958 | 46,894 | ||||||
|
New York Times Co., Class A |
1,247 | 55,205 | ||||||
|
Nexstar Media Group, Inc. |
277 | 45,096 | ||||||
|
TEGNA, Inc. |
1,713 | 28,316 | ||||||
|
Ziff Davis, Inc.* |
363 | 24,194 | ||||||
|
|
|
|||||||
|
(Cost $282,804) |
223,125 | |||||||
|
|
|
|||||||
| Consumer Discretionary — 16.0% | ||||||||
|
Adient PLC* |
729 | 28,555 | ||||||
|
Aramark |
2,002 | 74,434 | ||||||
|
Autoliv, Inc. |
585 | 57,096 | ||||||
|
AutoNation, Inc.* |
241 | 37,859 | ||||||
|
Boyd Gaming Corp. |
587 | 39,253 | ||||||
|
Brunswick Corp. |
537 | 42,488 | ||||||
|
Capri Holdings Ltd.* |
959 | 50,338 | ||||||
|
Carter’s, Inc. |
283 | 20,254 | ||||||
|
Choice Hotels International, Inc. |
205 | 26,015 | ||||||
|
Columbia Sportswear Co. |
275 | 20,169 | ||||||
|
Deckers Outdoor Corp.* |
202 | 106,876 | ||||||
|
Dick’s Sporting Goods, Inc. |
467 | 54,331 | ||||||
|
Five Below, Inc.* |
428 | 73,599 | ||||||
|
Foot Locker, Inc. |
587 | 11,517 | ||||||
|
Gap, Inc. |
1,660 | 19,223 | ||||||
|
Goodyear Tire & Rubber Co.* |
2,158 | 27,860 | ||||||
|
Grand Canyon Education, Inc.* |
237 | 27,788 | ||||||
|
H&R Block, Inc. |
1,157 | 46,257 | ||||||
|
Harley-Davidson, Inc. |
985 | 33,244 | ||||||
|
Helen of Troy Ltd.* |
186 | 22,863 | ||||||
|
KB Home |
604 | 30,683 | ||||||
|
Kohl’s Corp. |
853 | 22,724 | ||||||
|
Lear Corp. |
450 | 64,841 | ||||||
|
Leggett & Platt, Inc. |
1,017 | 28,679 | ||||||
|
Lithia Motors, Inc. |
210 | 64,684 | ||||||
|
Macy’s, Inc. |
2,075 | 25,377 | ||||||
|
Marriott Vacations Worldwide Corp. |
280 | 30,433 | ||||||
|
Nordstrom, Inc. |
873 | 14,160 | ||||||
|
Papa John’s International, Inc. |
227 | 17,184 | ||||||
|
Polaris, Inc. |
411 | 46,069 | ||||||
|
PVH Corp. |
482 | 40,295 | ||||||
|
RH* |
136 | 49,666 | ||||||
|
Service Corp. International |
1,162 | 73,334 | ||||||
|
Taylor Morrison Home Corp.* |
838 | 39,721 | ||||||
|
Tempur Sealy International, Inc. |
1,311 | 61,250 | ||||||
|
Texas Roadhouse, Inc. |
511 | 53,195 | ||||||
|
Thor Industries, Inc. |
408 | 42,767 | ||||||
|
Toll Brothers, Inc. |
784 | 64,233 | ||||||
|
Topgolf Callaway Brands Corp.* |
1,076 | 18,765 | ||||||
|
Travel + Leisure Co. |
585 | 23,517 | ||||||
|
Valvoline, Inc. |
1,046 | 36,024 | ||||||
|
Visteon Corp.* |
216 | 30,082 | ||||||
|
Wendy’s Co. |
1,308 | 25,885 | ||||||
|
Williams-Sonoma, Inc. |
505 | 71,306 | ||||||
|
Wingstop, Inc. |
230 | 36,947 | ||||||
|
Wyndham Hotels & Resorts, Inc. |
654 | 49,305 | ||||||
|
Number |
Value |
|||||||
| Consumer Discretionary (Continued) | ||||||||
|
YETI Holdings, Inc.* |
661 | $ | 33,017 | |||||
|
|
|
|||||||
|
(Cost $1,793,724) |
1,914,162 | |||||||
|
|
|
|||||||
| Consumer Staples — 3.8% | ||||||||
|
BJ’s Wholesale Club Holdings, Inc.* |
1,023 | 68,940 | ||||||
|
Coca-Cola Consolidated, Inc. |
36 | 25,160 | ||||||
|
Coty, Inc., Class A* |
2,794 | 32,299 | ||||||
|
Darling Ingredients, Inc.* |
1,214 | 74,977 | ||||||
|
Energizer Holdings, Inc. |
508 | 17,450 | ||||||
|
Flowers Foods, Inc. |
1,462 | 34,445 | ||||||
|
Ingredion, Inc. |
503 | 51,764 | ||||||
|
Pilgrim’s Pride Corp.* |
333 | 8,378 | ||||||
|
Post Holdings, Inc.* |
409 | 36,691 | ||||||
|
Sprouts Farmers Market, Inc.* |
784 | 31,979 | ||||||
|
US Foods Holding Corp.* |
1,721 | 69,580 | ||||||
|
|
|
|||||||
|
(Cost $398,208) |
451,663 | |||||||
|
|
|
|||||||
| Energy — 4.4% | ||||||||
|
Antero Midstream Corp. |
2,569 | 31,136 | ||||||
|
Antero Resources Corp.* |
2,100 | 58,107 | ||||||
|
ChampionX Corp. |
1,502 | 54,207 | ||||||
|
CNX Resources Corp.* |
1,260 | 28,161 | ||||||
|
Equitrans Midstream Corp. |
3,315 | 31,824 | ||||||
|
HF Sinclair Corp. |
980 | 53,988 | ||||||
|
Murphy Oil Corp. |
1,127 | 51,166 | ||||||
|
NOV, Inc. |
3,020 | 63,813 | ||||||
|
Range Resources Corp. |
1,857 | 60,130 | ||||||
|
Southwestern Energy Co.* |
8,349 | 56,606 | ||||||
|
Valaris Ltd.* |
459 | 34,572 | ||||||
|
|
|
|||||||
|
(Cost $398,566) |
523,710 | |||||||
|
|
|
|||||||
| Financials — 15.0% | ||||||||
|
Affiliated Managers Group, Inc. |
274 | 36,719 | ||||||
|
Annaly Capital Management, Inc. REIT |
3,748 | 75,972 | ||||||
|
Associated Banc-Corp. |
1,167 | 20,224 | ||||||
|
Bank OZK |
815 | 32,738 | ||||||
|
Brighthouse Financial, Inc.* |
505 | 25,078 | ||||||
|
Cadence Bank |
1,399 | 32,009 | ||||||
|
Cathay General Bancorp |
565 | 20,131 | ||||||
|
CNO Financial Group, Inc. |
888 | 20,779 | ||||||
|
Columbia Banking System, Inc. |
1,595 | 32,666 | ||||||
|
Commerce Bancshares, Inc. |
865 | 42,463 | ||||||
|
East West Bancorp, Inc. |
1,087 | 60,155 | ||||||
|
Evercore, Inc., Class A |
273 | 38,234 | ||||||
|
Federated Hermes, Inc. |
656 | 22,803 | ||||||
|
First American Financial Corp. |
785 | 48,419 | ||||||
|
First Horizon Corp. |
4,100 | 51,455 | ||||||
|
FNB Corp. |
2,770 | 32,215 | ||||||
|
Glacier Bancorp, Inc. |
851 | 25,709 | ||||||
|
Hanover Insurance Group, Inc. |
275 | 29,348 | ||||||
|
Janus Henderson Group PLC |
1,021 | 28,047 | ||||||
|
Jefferies Financial Group, Inc. |
1,425 | 50,858 | ||||||
|
Kinsale Capital Group, Inc. |
166 | 66,173 | ||||||
|
MGIC Investment Corp. |
2,173 | 38,201 | ||||||
|
New York Community Bancorp, Inc. |
5,548 | 68,129 | ||||||
|
Old National Bancorp. |
2,239 | 34,167 | ||||||
|
Pinnacle Financial Partners, Inc. |
595 | 39,603 | ||||||
|
Primerica, Inc. |
278 | 55,867 | ||||||
| See Notes to Financial Statements. | 31 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P MidCap 400 ESG ETF (Continued)
August 31, 2023
|
Number |
Value |
|||||||
| Financials (Continued) | ||||||||
|
Reinsurance Group of America, Inc. |
506 | $ | 70,142 | |||||
|
RenaissanceRe Holdings Ltd. |
387 | 72,713 | ||||||
|
SEI Investments Co. |
771 | 47,848 | ||||||
|
Selective Insurance Group, Inc. |
464 | 46,033 | ||||||
|
SLM Corp. |
1,844 | 26,259 | ||||||
|
Stifel Financial Corp. |
809 | 52,601 | ||||||
|
Synovus Financial Corp. |
1,130 | 34,985 | ||||||
|
Texas Capital Bancshares, Inc.* |
373 | 23,290 | ||||||
|
UMB Financial Corp. |
337 | 21,302 | ||||||
|
United Bankshares, Inc. |
1,015 | 30,531 | ||||||
|
Unum Group |
1,408 | 69,259 | ||||||
|
Valley National Bancorp |
3,230 | 29,651 | ||||||
|
Voya Financial, Inc. |
748 | 52,121 | ||||||
|
Webster Financial Corp. |
1,325 | 56,193 | ||||||
|
Western Union Co. |
2,848 | 35,173 | ||||||
|
WEX, Inc.* |
329 | 64,543 | ||||||
|
Wintrust Financial Corp. |
470 | 36,477 | ||||||
|
|
|
|||||||
|
(Cost $1,785,670) |
1,797,283 | |||||||
|
|
|
|||||||
| Health Care — 10.3% | ||||||||
|
Acadia Healthcare Co., Inc.* |
701 | 54,047 | ||||||
|
Amedisys, Inc.* |
252 | 23,625 | ||||||
|
Azenta, Inc.* |
505 | 28,497 | ||||||
|
Encompass Health Corp. |
766 | 54,417 | ||||||
|
Enovis Corp.* |
368 | 20,623 | ||||||
|
Envista Holdings Corp.* |
1,243 | 39,801 | ||||||
|
Exelixis, Inc.* |
2,480 | 55,527 | ||||||
|
Haemonetics Corp.* |
385 | 34,546 | ||||||
|
Halozyme Therapeutics, Inc.* |
1,001 | 42,602 | ||||||
|
HealthEquity, Inc.* |
654 | 44,178 | ||||||
|
Inari Medical, Inc.* |
397 | 26,448 | ||||||
|
Integra LifeSciences Holdings Corp.* |
538 | 22,886 | ||||||
|
Jazz Pharmaceuticals PLC* |
487 | 69,816 | ||||||
|
Lantheus Holdings, Inc.* |
524 | 35,862 | ||||||
|
LivaNova PLC* |
415 | 23,053 | ||||||
|
Neurocrine Biosciences, Inc.* |
749 | 81,559 | ||||||
|
Omnicell, Inc.* |
344 | 19,560 | ||||||
|
Option Care Health, Inc.* |
1,272 | 44,304 | ||||||
|
Patterson Cos., Inc. |
670 | 20,127 | ||||||
|
Penumbra, Inc.* |
294 | 77,763 | ||||||
|
Perrigo Co. PLC |
1,028 | 35,980 | ||||||
|
Progyny, Inc.* |
582 | 21,732 | ||||||
|
QuidelOrtho Corp.* |
416 | 34,262 | ||||||
|
R1 RCM, Inc.* |
1,074 | 18,516 | ||||||
|
Repligen Corp.* |
394 | 68,520 | ||||||
|
Shockwave Medical, Inc.* |
281 | 61,930 | ||||||
|
Syneos Health, Inc.* |
789 | 33,714 | ||||||
|
Tenet Healthcare Corp.* |
776 | 60,186 | ||||||
|
United Therapeutics Corp.* |
360 | 80,770 | ||||||
|
|
|
|||||||
|
(Cost $1,251,009) |
1,234,851 | |||||||
|
|
|
|||||||
| Industrials — 22.7% | ||||||||
|
Acuity Brands, Inc. |
244 | 39,352 | ||||||
|
Advanced Drainage Systems, Inc. |
475 | 60,876 | ||||||
|
AECOM |
1,068 | 93,717 | ||||||
|
AGCO Corp. |
473 | 61,268 | ||||||
|
ASGN, Inc.* |
382 | 31,385 | ||||||
|
Number |
Value |
|||||||
| Industrials (Continued) | ||||||||
|
Avis Budget Group, Inc.* |
181 | $ | 38,624 | |||||
|
Carlisle Cos., Inc. |
391 | 102,841 | ||||||
|
Chart Industries, Inc.* |
322 | 58,147 | ||||||
|
Clean Harbors, Inc.* |
383 | 64,857 | ||||||
|
Concentrix Corp. |
328 | 26,184 | ||||||
|
Donaldson Co., Inc. |
921 | 58,824 | ||||||
|
EMCOR Group, Inc. |
363 | 81,403 | ||||||
|
EnerSys |
311 | 32,649 | ||||||
|
ExlService Holdings, Inc.* |
1,280 | 37,414 | ||||||
|
Flowserve Corp. |
999 | 39,530 | ||||||
|
Fortune Brands Innovations, Inc. |
972 | 67,087 | ||||||
|
FTI Consulting, Inc.* |
261 | 48,499 | ||||||
|
Genpact Ltd. |
1,291 | 48,193 | ||||||
|
GXO Logistics, Inc.* |
906 | 57,957 | ||||||
|
Hubbell, Inc. |
411 | 134,007 | ||||||
|
Insperity, Inc. |
277 | 28,068 | ||||||
|
JetBlue Airways Corp.* |
2,516 | 14,895 | ||||||
|
Kirby Corp.* |
456 | 37,770 | ||||||
|
Knight-Swift Transportation Holdings, Inc. |
1,231 | 67,483 | ||||||
|
Lennox International, Inc. |
248 | 93,449 | ||||||
|
Lincoln Electric Holdings, Inc. |
442 | 85,067 | ||||||
|
ManpowerGroup, Inc. |
386 | 30,444 | ||||||
|
MasTec, Inc.* |
455 | 45,268 | ||||||
|
Maximus, Inc. |
462 | 37,339 | ||||||
|
Middleby Corp.* |
407 | 59,255 | ||||||
|
MSA Safety, Inc. |
280 | 51,150 | ||||||
|
MSC Industrial Direct Co., Inc., Class A |
360 | 36,742 | ||||||
|
nVent Electric PLC |
1,259 | 71,184 | ||||||
|
Owens Corning |
691 | 99,442 | ||||||
|
Paylocity Holding Corp.* |
315 | 63,158 | ||||||
|
Regal Rexnord Corp. |
509 | 82,555 | ||||||
|
Ryder System, Inc. |
351 | 35,346 | ||||||
|
Saia, Inc.* |
204 | 86,945 | ||||||
|
Simpson Manufacturing Co., Inc. |
324 | 51,762 | ||||||
|
Stericycle, Inc.* |
704 | 31,124 | ||||||
|
Terex Corp. |
516 | 31,275 | ||||||
|
Tetra Tech, Inc. |
405 | 63,727 | ||||||
|
Timken Co. |
501 | 38,286 | ||||||
|
Toro Co. |
793 | 81,140 | ||||||
|
Trex Co., Inc.* |
829 | 59,166 | ||||||
|
Valmont Industries, Inc. |
162 | 41,067 | ||||||
|
Watts Water Technologies, Inc., Class A |
208 | 39,264 | ||||||
|
XPO, Inc.* |
880 | 65,674 | ||||||
|
|
|
|||||||
|
(Cost $2,089,483) |
2,710,859 | |||||||
|
|
|
|||||||
| Information Technology — 10.0% | ||||||||
|
ACI Worldwide, Inc.* |
832 | 20,201 | ||||||
|
Amkor Technology, Inc. |
778 | 21,753 | ||||||
|
Arrow Electronics, Inc.* |
431 | 57,508 | ||||||
|
Avnet, Inc. |
697 | 35,373 | ||||||
|
Belden, Inc. |
328 | 30,799 | ||||||
|
Blackbaud, Inc.* |
343 | 26,106 | ||||||
|
Calix, Inc.* |
441 | 20,511 | ||||||
|
Ciena Corp.* |
1,140 | 56,977 | ||||||
|
Cirrus Logic, Inc.* |
425 | 34,867 | ||||||
|
Coherent Corp.* |
1,055 | 39,700 | ||||||
|
CommVault Systems, Inc.* |
330 | 22,542 | ||||||
| See Notes to Financial Statements. | 32 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P MidCap 400 ESG ETF (Continued)
August 31, 2023
|
Number |
Value |
|||||||
| Information Technology (Continued) | ||||||||
|
Crane NXT Co. |
371 | $ | 22,022 | |||||
|
Envestnet, Inc.* |
410 | 22,398 | ||||||
|
IPG Photonics Corp.* |
238 | 25,790 | ||||||
|
Jabil, Inc. |
1,018 | 116,480 | ||||||
|
Littelfuse, Inc. |
189 | 50,478 | ||||||
|
Lumentum Holdings, Inc.* |
526 | 28,472 | ||||||
|
Manhattan Associates, Inc.* |
477 | 96,650 | ||||||
|
MKS Instruments, Inc. |
440 | 44,101 | ||||||
|
National Instruments Corp. |
1,008 | 60,077 | ||||||
|
NCR Corp.* |
1,089 | 33,498 | ||||||
|
Novanta, Inc.* |
274 | 45,752 | ||||||
|
Power Integrations, Inc. |
438 | 36,801 | ||||||
|
Qualys, Inc.* |
256 | 39,846 | ||||||
|
Silicon Laboratories, Inc.* |
243 | 32,771 | ||||||
|
Synaptics, Inc.* |
304 | 26,612 | ||||||
|
Teradata Corp.* |
777 | 35,952 | ||||||
|
Universal Display Corp. |
334 | 54,295 | ||||||
|
Wolfspeed, Inc. *(a) |
952 | 45,525 | ||||||
|
Xerox Holdings Corp. |
830 | 13,189 | ||||||
|
|
|
|||||||
|
(Cost $1,081,135) |
1,197,046 | |||||||
|
|
|
|||||||
| Materials — 6.5% | ||||||||
|
Alcoa Corp. |
1,360 | 40,909 | ||||||
|
AptarGroup, Inc. |
499 | 66,147 | ||||||
|
Ashland, Inc. |
370 | 32,053 | ||||||
|
Avient Corp. |
659 | 26,432 | ||||||
|
Axalta Coating Systems Ltd.* |
1,687 | 47,742 | ||||||
|
Cabot Corp. |
431 | 31,230 | ||||||
|
Chemours Co. |
1,135 | 38,613 | ||||||
|
Cleveland-Cliffs, Inc.* |
3,922 | 59,967 | ||||||
|
Commercial Metals Co. |
890 | 50,098 | ||||||
|
Greif, Inc., Class A |
198 | 14,373 | ||||||
|
Louisiana-Pacific Corp. |
547 | 34,177 | ||||||
|
Royal Gold, Inc. |
500 | 56,045 | ||||||
|
RPM International, Inc. |
988 | 98,543 | ||||||
|
Scotts Miracle-Gro Co. |
316 | 17,905 | ||||||
|
Sensient Technologies Corp. |
326 | 20,085 | ||||||
|
Sonoco Products Co. |
750 | 43,088 | ||||||
|
United States Steel Corp. |
1,721 | 53,506 | ||||||
|
Westlake Corp. |
263 | 34,448 | ||||||
|
Worthington Industries, Inc. |
224 | 16,860 | ||||||
|
|
|
|||||||
|
(Cost $794,034) |
782,221 | |||||||
|
|
|
|||||||
| Real Estate — 7.0% | ||||||||
|
Agree Realty Corp. REIT |
719 | 44,449 | ||||||
|
Apartment Income REIT Corp. REIT |
1,134 | 38,624 | ||||||
|
Brixmor Property Group, Inc. REIT |
2,285 | 50,224 | ||||||
|
Corporate Office Properties Trust REIT |
872 | 22,567 | ||||||
|
Cousins Properties, Inc. REIT |
1,167 | 27,424 | ||||||
|
Number |
Value |
|||||||
| Real Estate (Continued) | ||||||||
|
CubeSmart REIT |
1,705 | $ | 71,116 | |||||
|
EastGroup Properties, Inc. REIT |
342 | 61,433 | ||||||
|
Healthcare Realty Trust, Inc. REIT |
2,904 | 50,878 | ||||||
|
Highwoods Properties, Inc. REIT |
820 | 19,541 | ||||||
|
Jones Lang LaSalle, Inc.* |
364 | 62,899 | ||||||
|
Kilroy Realty Corp. REIT |
810 | 29,929 | ||||||
|
Medical Properties Trust, Inc. REIT (a) |
4,551 | 32,858 | ||||||
|
NNN REIT, Inc. REIT |
1,402 | 55,225 | ||||||
|
Park Hotels & Resorts, Inc. REIT |
1,665 | 21,362 | ||||||
|
Physicians Realty Trust REIT |
1,836 | 25,539 | ||||||
|
PotlatchDeltic Corp. REIT |
617 | 29,159 | ||||||
|
Rayonier, Inc. REIT |
1,129 | 33,757 | ||||||
|
Rexford Industrial Realty, Inc. REIT |
1,544 | 82,558 | ||||||
|
Spirit Realty Capital, Inc. REIT |
1,075 | 41,506 | ||||||
|
Vornado Realty Trust REIT |
1,236 | 29,689 | ||||||
|
|
|
|||||||
|
(Cost $957,993) |
830,737 | |||||||
|
|
|
|||||||
| Utilities — 1.7% | ||||||||
|
Hawaiian Electric Industries, Inc. |
837 | 11,735 | ||||||
|
National Fuel Gas Co. |
699 | 37,564 | ||||||
|
ONE Gas, Inc. |
424 | 30,727 | ||||||
|
Ormat Technologies, Inc. |
405 | 30,756 | ||||||
|
Southwest Gas Holdings, Inc. |
508 | 31,461 | ||||||
|
Spire, Inc. |
408 | 23,831 | ||||||
|
UGI Corp. |
1,591 | 40,061 | ||||||
|
|
|
|||||||
|
(Cost $249,906) |
206,135 | |||||||
|
|
|
|||||||
|
TOTAL
COMMON STOCKS |
11,871,792 | |||||||
|
|
|
|||||||
| EXCHANGE-TRADED FUNDS — 0.5% | ||||||||
|
iShares ESG Screened S&P Mid-Cap ETF |
1,400 | 50,336 | ||||||
|
SPDR S&P MidCap 400 ETF Trust |
24 | 11,606 | ||||||
|
|
|
|||||||
|
(Cost $59,078) |
61,942 | |||||||
|
|
|
|||||||
| SECURITIES LENDING COLLATERAL — 0.7% | ||||||||
|
DWS
Government & Agency Securities Portfolio “DWS Government Cash
Institutional Shares”, 5.27% (b)(c) |
77,625 | 77,625 | ||||||
|
|
|
|||||||
| CASH EQUIVALENTS — 0.1% | ||||||||
|
DWS
Government Money Market Series “Institutional Shares”, 5.28% (b) |
9,093 | 9,093 | ||||||
|
|
|
|||||||
|
TOTAL
INVESTMENTS — 100.6% |
$ | 12,020,452 | ||||||
|
Other assets and liabilities, net — (0.6%) |
(67,527 | ) | ||||||
|
|
|
|||||||
|
NET ASSETS — 100.0% |
$ | 11,952,925 | ||||||
|
|
|
|||||||
| See Notes to Financial Statements. | 33 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P MidCap 400 ESG ETF (Continued)
August 31, 2023
A summary of the Fund’s transactions with affiliated investments during the year ended August 31, 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 ($) |
Number of Shares at 8/31/2023 |
Value ($) at 8/31/2023 |
||||||||||||||||||||||||||||
|
SECURITIES LENDING COLLATERAL — 0.7% |
|
|||||||||||||||||||||||||||||||||||
|
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.27% (b)(c) |
| |||||||||||||||||||||||||||||||||||
| — | 77,625 | (d) | — | — | — | 374 | — | 77,625 | 77,625 | |||||||||||||||||||||||||||
|
CASH EQUIVALENTS — 0.1% |
| |||||||||||||||||||||||||||||||||||
|
DWS Government Money Market Series “Institutional Shares”, 5.28% (b) |
| |||||||||||||||||||||||||||||||||||
| 5,679 | 525,116 | (521,702 | ) | — | — | 317 | — | 9,093 | 9,093 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
| 5,679 | 602,741 | (521,702 | ) | — | — | 691 | — | 86,718 | 86,718 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
| * |
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 August 31, 2023 amounted to $75,528, which is 0.6% 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. |
| (d) |
Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the year ended August 31, 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 August 31, 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) |
$ | 11,871,792 | $ | — | $ | — | $ | 11,871,792 | ||||||||
|
Exchange-Traded Funds |
61,942 | — | — | 61,942 | ||||||||||||
|
Short-Term Investments (a) |
86,718 | — | — | 86,718 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
TOTAL |
$ | 12,020,452 | $ | — | $ | — | $ | 12,020,452 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
See Schedule of Investments for additional detailed categorizations. |
| See Notes to Financial Statements. | 34 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P SmallCap 600 ESG ETF
August 31, 2023
|
Number |
Value |
|||||||
| COMMON STOCKS — 99.9% | ||||||||
| Communication Services — 1.6% | ||||||||
|
Cars.com, Inc.* |
1,087 | $ | 20,316 | |||||
|
Cinemark Holdings, Inc.* |
1,933 | 31,469 | ||||||
|
Consolidated Communications Holdings, Inc.* |
1,254 | 4,953 | ||||||
|
EW Scripps Co., Class A* |
1,018 | 7,778 | ||||||
|
Lumen Technologies, Inc.* |
16,694 | 26,543 | ||||||
|
QuinStreet, Inc.* |
887 | 8,781 | ||||||
|
Scholastic Corp. |
519 | 22,551 | ||||||
|
TechTarget, Inc.* |
469 | 13,484 | ||||||
|
Thryv Holdings, Inc.* |
538 | 10,970 | ||||||
|
Yelp, Inc.* |
1,224 | 52,448 | ||||||
|
|
|
|||||||
|
(Cost $218,590) |
199,293 | |||||||
|
|
|
|||||||
| Consumer Discretionary — 14.1% | ||||||||
|
Aaron’s Co., Inc. |
529 | 6,385 | ||||||
|
Abercrombie & Fitch Co., Class A* |
899 | 48,321 | ||||||
|
Academy Sports & Outdoors, Inc. |
1,372 | 74,870 | ||||||
|
Adtalem Global Education, Inc.* |
798 | 34,992 | ||||||
|
American Axle & Manufacturing Holdings, Inc.* |
2,138 | 16,142 | ||||||
|
American Eagle Outfitters, Inc. |
3,288 | 55,764 | ||||||
|
America’s Car-Mart, Inc.* |
101 | 11,242 | ||||||
|
BJ’s Restaurants, Inc.* |
410 | 12,058 | ||||||
|
Bloomin’ Brands, Inc. |
1,541 | 43,240 | ||||||
|
Boot Barn Holdings, Inc.* |
534 | 48,995 | ||||||
|
Brinker International, Inc.* |
801 | 26,217 | ||||||
|
Caleres, Inc. |
625 | 17,919 | ||||||
|
Cavco Industries, Inc.* |
142 | 39,692 | ||||||
|
Century Communities, Inc. |
511 | 37,942 | ||||||
|
Cheesecake Factory, Inc. |
839 | 26,722 | ||||||
|
Chico’s FAS, Inc.* |
2,194 | 11,255 | ||||||
|
Chuy’s Holdings, Inc.* |
316 | 12,040 | ||||||
|
Cracker Barrel Old Country Store, Inc. |
390 | 32,148 | ||||||
|
Dine Brands Global, Inc. |
275 | 15,065 | ||||||
|
Dorman Products, Inc.* |
508 | 41,915 | ||||||
|
Ethan Allen Interiors, Inc. |
399 | 12,521 | ||||||
|
Frontdoor, Inc.* |
1,459 | 47,884 | ||||||
|
Gentherm, Inc.* |
582 | 35,042 | ||||||
|
Green Brick Partners, Inc.* |
476 | 23,543 | ||||||
|
Group 1 Automotive, Inc. |
256 | 67,692 | ||||||
|
Guess?, Inc. (a) |
535 | 12,872 | ||||||
|
Hanesbrands, Inc. |
6,297 | 33,059 | ||||||
|
Haverty Furniture Cos., Inc. |
231 | 7,230 | ||||||
|
Hibbett, Inc. |
223 | 10,327 | ||||||
|
iRobot Corp.* |
478 | 18,589 | ||||||
|
Jack in the Box, Inc. |
361 | 29,014 | ||||||
|
La-Z-Boy, Inc. |
756 | 23,323 | ||||||
|
LCI Industries |
447 | 56,000 | ||||||
|
Leslie’s, Inc.* |
2,611 | 16,345 | ||||||
|
LGI Homes, Inc.* |
370 | 45,547 | ||||||
|
MDC Holdings, Inc. |
1,046 | 49,633 | ||||||
|
Meritage Homes Corp. |
653 | 90,793 | ||||||
|
Mister Car Wash, Inc.* |
1,389 | 10,056 | ||||||
|
Monro, Inc. |
550 | 18,007 | ||||||
|
Movado Group, Inc. |
275 | 7,521 | ||||||
|
ODP Corp.* |
613 | 30,233 | ||||||
|
Number |
Value |
|||||||
| Consumer Discretionary (Continued) | ||||||||
|
Oxford Industries, Inc. |
260 | $ | 26,257 | |||||
|
Sally Beauty Holdings, Inc.* |
1,883 | 19,131 | ||||||
|
Shake Shack, Inc., Class A* |
668 | 46,760 | ||||||
|
Signet Jewelers Ltd. |
798 | 59,850 | ||||||
|
Sleep Number Corp.* |
386 | 9,874 | ||||||
|
Sonos, Inc.* |
2,303 | 31,735 | ||||||
|
Standard Motor Products, Inc. |
329 | 12,183 | ||||||
|
Steven Madden Ltd. |
1,285 | 44,333 | ||||||
|
Strategic Education, Inc. |
403 | 31,233 | ||||||
|
Stride, Inc.* |
719 | 30,550 | ||||||
|
Tri Pointe Homes, Inc.* |
1,771 | 55,078 | ||||||
|
Upbound Group, Inc. |
879 | 26,915 | ||||||
|
Urban Outfitters, Inc.* |
1,052 | 34,937 | ||||||
|
Winnebago Industries, Inc. |
536 | 34,760 | ||||||
|
Wolverine World Wide, Inc. |
1,383 | 11,175 | ||||||
|
|
|
|||||||
|
(Cost $1,744,354) |
1,732,926 | |||||||
|
|
|
|||||||
| Consumer Staples — 4.8% | ||||||||
|
Andersons, Inc. |
568 | 29,172 | ||||||
|
B&G Foods, Inc. (a) |
1,258 | 16,090 | ||||||
|
Calavo Growers, Inc. |
312 | 10,284 | ||||||
|
Cal-Maine Foods, Inc. |
685 | 32,736 | ||||||
|
Edgewell Personal Care Co. |
903 | 34,820 | ||||||
|
elf Beauty, Inc.* |
905 | 125,533 | ||||||
|
Fresh Del Monte Produce, Inc. |
537 | 13,720 | ||||||
|
Hain Celestial Group, Inc.* |
1,571 | 16,637 | ||||||
|
Hostess Brands, Inc.* |
2,351 | 66,956 | ||||||
|
John B Sanfilippo & Son, Inc. |
157 | 15,755 | ||||||
|
MGP Ingredients, Inc. |
270 | 32,373 | ||||||
|
National Beverage Corp.* |
410 | 21,037 | ||||||
|
PriceSmart, Inc. |
441 | 35,051 | ||||||
|
Simply Good Foods Co.* |
1,510 | 54,481 | ||||||
|
SpartanNash Co. |
620 | 13,491 | ||||||
|
TreeHouse Foods, Inc.* |
916 | 42,612 | ||||||
|
United Natural Foods, Inc.* |
1,050 | 21,137 | ||||||
|
|
|
|||||||
|
(Cost $473,824) |
581,885 | |||||||
|
|
|
|||||||
| Energy — 5.4% | ||||||||
|
Archrock, Inc. |
2,348 | 30,031 | ||||||
|
Bristow Group, Inc.* |
414 | 11,468 | ||||||
|
Callon Petroleum Co.* |
898 | 35,229 | ||||||
|
Civitas Resources, Inc. |
874 | 71,860 | ||||||
|
Comstock Resources, Inc. (a) |
1,607 | 19,702 | ||||||
|
Core Laboratories, Inc. |
819 | 19,689 | ||||||
|
Dril-Quip, Inc.* |
596 | 16,438 | ||||||
|
Green Plains, Inc.* |
1,071 | 33,244 | ||||||
|
Helix Energy Solutions Group, Inc.* |
2,506 | 25,411 | ||||||
|
Helmerich & Payne, Inc. |
1,822 | 72,862 | ||||||
|
Nabors Industries Ltd.* |
158 | 17,489 | ||||||
|
Oil States International, Inc.* |
1,122 | 8,796 | ||||||
|
Par Pacific Holdings, Inc.* |
1,001 | 34,384 | ||||||
|
Patterson-UTI Energy, Inc. |
5,677 | 80,273 | ||||||
|
SM Energy Co. |
2,156 | 91,220 | ||||||
|
Talos Energy, Inc.* |
1,947 | 33,527 | ||||||
|
US Silica Holdings, Inc.* |
1,401 | 17,274 | ||||||
|
Vital Energy, Inc.* |
342 | 20,619 | ||||||
|
World Kinect Corp. |
1,087 | 23,805 | ||||||
|
|
|
|||||||
|
(Cost $549,896) |
663,321 | |||||||
|
|
|
|||||||
| See Notes to Financial Statements. | 35 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P SmallCap 600 ESG ETF (Continued)
August 31, 2023
|
Number |
Value |
|||||||
| Financials — 16.7% | ||||||||
|
Ambac Financial Group, Inc.* |
788 | $ | 10,149 | |||||
|
American Equity Investment Life Holding Co. |
1,128 | 60,551 | ||||||
|
Ameris Bancorp |
1,167 | 47,555 | ||||||
|
AMERISAFE, Inc. |
336 | 17,405 | ||||||
|
Assured Guaranty Ltd. |
1,054 | 62,017 | ||||||
|
Atlantic Union Bankshares Corp. |
1,342 | 39,844 | ||||||
|
Avantax, Inc.* |
699 | 14,623 | ||||||
|
Axos Financial, Inc.* |
938 | 40,418 | ||||||
|
Banc of California, Inc. |
965 | 12,091 | ||||||
|
BancFirst Corp. |
306 | 29,247 | ||||||
|
Bancorp, Inc.* |
977 | 35,866 | ||||||
|
BankUnited, Inc. |
1,329 | 34,886 | ||||||
|
Banner Corp. |
620 | 27,001 | ||||||
|
Berkshire Hills Bancorp, Inc. |
777 | 16,239 | ||||||
|
Bread Financial Holdings, Inc. |
899 | 33,784 | ||||||
|
Brightsphere Investment Group, Inc. |
567 | 11,743 | ||||||
|
Central Pacific Financial Corp. |
472 | 8,010 | ||||||
|
City Holding Co. |
272 | 24,850 | ||||||
|
Community Bank System, Inc. |
962 | 45,743 | ||||||
|
Customers Bancorp, Inc.* |
535 | 18,800 | ||||||
|
Donnelley Financial Solutions, Inc.* |
439 | 21,630 | ||||||
|
Encore Capital Group, Inc.* |
411 | 19,259 | ||||||
|
Enova International, Inc.* |
548 | 27,647 | ||||||
|
EVERTEC, Inc. |
1,144 | 45,268 | ||||||
|
FB Financial Corp. |
617 | 18,744 | ||||||
|
First BanCorp |
3,209 | 44,477 | ||||||
|
First Commonwealth Financial Corp. |
1,805 | 23,591 | ||||||
|
First Financial Bancorp |
1,665 | 34,599 | ||||||
|
First Hawaiian, Inc. |
2,285 | 43,209 | ||||||
|
Franklin BSP Realty Trust, Inc. REIT |
1,438 | 20,333 | ||||||
|
Genworth Financial, Inc., Class A* |
8,473 | 49,059 | ||||||
|
Green Dot Corp., Class A* |
821 | 12,184 | ||||||
|
Hanmi Financial Corp. |
535 | 9,266 | ||||||
|
Heritage Financial Corp. |
616 | 10,608 | ||||||
|
Hilltop Holdings, Inc. |
807 | 24,525 | ||||||
|
Hope Bancorp, Inc. |
2,098 | 20,288 | ||||||
|
Horace Mann Educators Corp. |
718 | 20,578 | ||||||
|
Independent Bank Group, Inc. |
643 | 27,135 | ||||||
|
Mr Cooper Group, Inc.* |
1,216 | 68,899 | ||||||
|
National Bank Holdings Corp., Class A |
660 | 20,816 | ||||||
|
NBT Bancorp, Inc. |
834 | 28,706 | ||||||
|
Northfield Bancorp, Inc. |
731 | 7,705 | ||||||
|
Northwest Bancshares, Inc. |
2,228 | 24,508 | ||||||
|
OFG Bancorp |
836 | 25,214 | ||||||
|
Pacific Premier Bancorp, Inc. |
1,723 | 39,663 | ||||||
|
Park National Corp. |
253 | 25,745 | ||||||
|
Pathward Financial, Inc. |
484 | 23,847 | ||||||
|
PennyMac Mortgage Investment Trust REIT |
1,556 | 20,866 | ||||||
|
Piper Sandler Cos. |
265 | 39,480 | ||||||
|
PRA Group, Inc.* |
684 | 13,324 | ||||||
|
ProAssurance Corp. |
947 | 16,743 | ||||||
|
PROG Holdings, Inc.* |
842 | 28,881 | ||||||
|
Provident Financial Services, Inc. |
1,375 | 22,660 | ||||||
|
Radian Group, Inc. |
2,758 | 74,687 | ||||||
|
Redwood Trust, Inc. REIT |
1,981 | 15,868 | ||||||
|
Renasant Corp. |
983 | 27,377 | ||||||
|
Number |
Value |
|||||||
| Financials (Continued) | ||||||||
|
S&T Bancorp, Inc. |
684 | $ | 19,378 | |||||
|
Safety Insurance Group, Inc. |
271 | 18,664 | ||||||
|
Seacoast Banking Corp. of Florida |
1,506 | 35,557 | ||||||
|
Simmons First National Corp., Class A |
2,281 | 40,647 | ||||||
|
Southside Bancshares, Inc. |
526 | 15,833 | ||||||
|
Stewart Information Services Corp. |
476 | 22,048 | ||||||
|
StoneX Group, Inc.* |
308 | 28,915 | ||||||
|
Tompkins Financial Corp. |
220 | 11,425 | ||||||
|
Triumph Financial, Inc.* |
397 | 25,499 | ||||||
|
Trupanion, Inc.*(a) |
617 | 18,343 | ||||||
|
TrustCo Bank Corp. NY |
333 | 9,480 | ||||||
|
Trustmark Corp. |
1,070 | 24,653 | ||||||
|
Two Harbors Investment Corp. REIT |
1,760 | 24,235 | ||||||
|
United Fire Group, Inc. |
380 | 7,513 | ||||||
|
Universal Insurance Holdings, Inc. |
481 | 6,089 | ||||||
|
Veritex Holdings, Inc. |
949 | 17,851 | ||||||
|
Virtus Investment Partners, Inc. |
124 | 25,680 | ||||||
|
Walker & Dunlop, Inc. |
554 | 47,278 | ||||||
|
WisdomTree, Inc. |
1,960 | 14,308 | ||||||
|
World Acceptance Corp.* |
59 | 7,954 | ||||||
|
WSFS Financial Corp. |
1,082 | 42,523 | ||||||
|
|
|
|||||||
|
(Cost $2,182,962) |
2,052,084 | |||||||
|
|
|
|||||||
| Health Care — 9.9% | ||||||||
|
Addus HomeCare Corp.* |
292 | 25,608 | ||||||
|
AMN Healthcare Services, Inc.* |
705 | 62,308 | ||||||
|
Amphastar Pharmaceuticals, Inc.* |
663 | 35,345 | ||||||
|
AngioDynamics, Inc.* |
685 | 5,501 | ||||||
|
Anika Therapeutics, Inc.* |
256 | 4,570 | ||||||
|
Arcus Biosciences, Inc.* |
916 | 18,778 | ||||||
|
Avid Bioservices, Inc.* |
1,094 | 12,909 | ||||||
|
Catalyst Pharmaceuticals, Inc.* |
1,731 | 24,303 | ||||||
|
Certara, Inc.* |
1,850 | 29,896 | ||||||
|
Coherus Biosciences, Inc.* |
1,134 | 6,044 | ||||||
|
Community Health Systems, Inc.* |
2,199 | 7,433 | ||||||
|
Computer Programs and Systems, Inc.* |
248 | 4,035 | ||||||
|
CONMED Corp. |
544 | 60,634 | ||||||
|
Cross Country Healthcare, Inc.* |
621 | 15,997 | ||||||
|
Cytokinetics, Inc.* |
1,704 | 59,538 | ||||||
|
Dynavax Technologies Corp.* |
2,146 | 30,817 | ||||||
|
Embecta Corp. |
1,004 | 18,403 | ||||||
|
Enanta Pharmaceuticals, Inc.* |
345 | 5,123 | ||||||
|
Ensign Group, Inc. |
994 | 99,619 | ||||||
|
Fulgent Genetics, Inc.* |
346 | 11,335 | ||||||
|
Glaukos Corp.* |
859 | 64,545 | ||||||
|
HealthStream, Inc. |
424 | 8,917 | ||||||
|
Innoviva, Inc.* |
1,103 | 14,063 | ||||||
|
Integer Holdings Corp.* |
595 | 50,759 | ||||||
|
Ironwood Pharmaceuticals, Inc.* |
2,493 | 21,938 | ||||||
|
iTeos Therapeutics, Inc.* |
430 | 5,188 | ||||||
|
Ligand Pharmaceuticals, Inc.* |
297 | 19,534 | ||||||
|
Merit Medical Systems, Inc.* |
1,021 | 66,651 | ||||||
|
ModivCare, Inc.* |
243 | 7,800 | ||||||
|
Myriad Genetics, Inc.* |
1,476 | 26,347 | ||||||
|
NextGen Healthcare, Inc.* |
940 | 17,117 | ||||||
|
OraSure Technologies, Inc.* |
1,273 | 8,224 | ||||||
|
Orthofix Medical, Inc.* |
600 | 12,696 | ||||||
|
Owens & Minor, Inc.* |
1,338 | 22,612 | ||||||
| See Notes to Financial Statements. | 36 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P SmallCap 600 ESG ETF (Continued)
August 31, 2023
|
Number |
Value |
|||||||
| Health Care (Continued) | ||||||||
|
Pediatrix Medical Group, Inc.* |
1,498 | $ | 21,167 | |||||
|
Phibro Animal Health Corp., Class A |
341 | 4,757 | ||||||
|
Prestige Consumer Healthcare, Inc.* |
873 | 50,922 | ||||||
|
RadNet, Inc.* |
1,012 | 33,811 | ||||||
|
REGENXBIO, Inc.* |
661 | 11,700 | ||||||
|
Select Medical Holdings Corp. |
1,859 | 54,301 | ||||||
|
uniQure NV* |
723 | 6,297 | ||||||
|
US Physical Therapy, Inc. |
258 | 26,014 | ||||||
|
Vanda Pharmaceuticals, Inc.* |
996 | 5,169 | ||||||
|
Varex Imaging Corp.* |
701 | 13,789 | ||||||
|
Veradigm, Inc.* |
1,918 | 25,663 | ||||||
|
Vericel Corp.* |
857 | 28,135 | ||||||
|
Vir Biotechnology, Inc.* |
1,332 | 16,863 | ||||||
|
Xencor, Inc.* |
1,092 | 24,002 | ||||||
|
|
|
|||||||
|
(Cost $1,303,736) |
1,207,177 | |||||||
|
|
|
|||||||
| Industrials — 17.6% | ||||||||
|
AAON, Inc. |
1,143 | 72,078 | ||||||
|
ABM Industries, Inc. |
1,181 | 53,641 | ||||||
|
Alamo Group, Inc. |
180 | 30,897 | ||||||
|
Allegiant Travel Co. |
275 | 24,431 | ||||||
|
American Woodmark Corp.* |
291 | 22,602 | ||||||
|
Applied Industrial Technologies, Inc. |
687 | 106,052 | ||||||
|
ArcBest Corp. |
426 | 44,981 | ||||||
|
Arcosa, Inc. |
862 | 67,426 | ||||||
|
Astec Industries, Inc. |
399 | 21,873 | ||||||
|
AZZ, Inc. |
437 | 21,457 | ||||||
|
Barnes Group, Inc. |
912 | 35,842 | ||||||
|
Boise Cascade Co. |
703 | 76,887 | ||||||
|
Brady Corp., Class A |
810 | 40,856 | ||||||
|
Comfort Systems USA, Inc. |
633 | 116,833 | ||||||
|
CSG Systems International, Inc. |
545 | 29,599 | ||||||
|
Deluxe Corp. |
756 | 15,286 | ||||||
|
Dycom Industries, Inc.* |
519 | 51,864 | ||||||
|
Encore Wire Corp. |
316 | 52,080 | ||||||
|
Enerpac Tool Group Corp. |
999 | 26,174 | ||||||
|
EnPro Industries, Inc. |
373 | 50,873 | ||||||
|
Enviri Corp.* |
1,395 | 10,393 | ||||||
|
Federal Signal Corp. |
1,084 | 66,070 | ||||||
|
Forward Air Corp. |
456 | 32,294 | ||||||
|
GEO Group, Inc.* |
2,179 | 15,776 | ||||||
|
Gibraltar Industries, Inc.* |
544 | 40,816 | ||||||
|
Granite Construction, Inc. |
767 | 31,669 | ||||||
|
Greenbrier Cos., Inc. |
576 | 24,515 | ||||||
|
Griffon Corp. |
833 | 34,878 | ||||||
|
Heartland Express, Inc. |
817 | 12,329 | ||||||
|
Heidrick & Struggles International, Inc. |
348 | 9,219 | ||||||
|
Hillenbrand, Inc. |
1,241 | 60,114 | ||||||
|
HNI Corp. |
836 | 27,387 | ||||||
|
Hub Group, Inc., Class A* |
586 | 45,731 | ||||||
|
Interface, Inc. |
1,020 | 10,537 | ||||||
|
John Bean Technologies Corp. |
568 | 62,429 | ||||||
|
Kelly Services, Inc., Class A |
607 | 11,223 | ||||||
|
Kennametal, Inc. |
1,415 | 37,455 | ||||||
|
Korn Ferry |
925 | 47,156 | ||||||
|
Lindsay Corp. |
193 | 23,951 | ||||||
|
Liquidity Services, Inc.* |
421 | 7,683 | ||||||
|
Matson, Inc. |
640 | 56,243 | ||||||
|
Number |
Value |
|||||||
| Industrials (Continued) | ||||||||
|
Matthews International Corp., Class A |
534 | $ | 22,524 | |||||
|
MillerKnoll, Inc. |
1,326 | 25,327 | ||||||
|
MYR Group, Inc.* |
300 | 42,621 | ||||||
|
NOW, Inc.* |
1,941 | 21,681 | ||||||
|
OPENLANE, Inc.* |
1,973 | 30,799 | ||||||
|
Pitney Bowes, Inc. |
2,841 | 9,347 | ||||||
|
Powell Industries, Inc. |
160 | 13,435 | ||||||
|
Proto Labs, Inc.* |
476 | 14,042 | ||||||
|
Quanex Building Products Corp. |
584 | 15,756 | ||||||
|
Resideo Technologies, Inc.* |
2,629 | 44,325 | ||||||
|
Resources Connection, Inc. |
557 | 8,639 | ||||||
|
SkyWest, Inc.* |
800 | 36,080 | ||||||
|
SPX Technologies, Inc.* |
810 | 64,006 | ||||||
|
Standex International Corp. |
210 | 32,262 | ||||||
|
Tennant Co. |
327 | 26,955 | ||||||
|
Trinity Industries, Inc. |
1,430 | 35,850 | ||||||
|
TrueBlue, Inc.* |
575 | 8,700 | ||||||
|
TTEC Holdings, Inc. |
331 | 9,851 | ||||||
|
Veritiv Corp. |
243 | 40,904 | ||||||
|
Viad Corp.* |
362 | 10,277 | ||||||
|
Wabash National Corp. |
837 | 18,874 | ||||||
|
|
|
|||||||
|
(Cost $1,829,640) |
2,161,855 | |||||||
|
|
|
|||||||
| Information Technology — 14.6% | ||||||||
|
8x8, Inc.* |
1,984 | 6,448 | ||||||
|
A10 Networks, Inc. |
1,126 | 16,766 | ||||||
|
Adeia, Inc. |
1,932 | 19,436 | ||||||
|
ADTRAN Holdings, Inc. |
1,341 | 11,466 | ||||||
|
Agilysys, Inc.* |
349 | 24,620 | ||||||
|
Alarm.com Holdings, Inc.* |
892 | 52,245 | ||||||
|
Arlo Technologies, Inc.* |
1,682 | 16,433 | ||||||
|
Axcelis Technologies, Inc.* |
582 | 111,831 | ||||||
|
Badger Meter, Inc. |
518 | 86,030 | ||||||
|
Benchmark Electronics, Inc. |
617 | 15,882 | ||||||
|
Cohu, Inc.* |
836 | 31,258 | ||||||
|
Consensus Cloud Solutions, Inc.* |
310 | 9,898 | ||||||
|
CTS Corp. |
559 | 24,959 | ||||||
|
Digi International, Inc.* |
627 | 20,929 | ||||||
|
Digital Turbine, Inc.* |
1,585 | 14,122 | ||||||
|
Diodes, Inc.* |
813 | 66,544 | ||||||
|
Ebix, Inc. |
412 | 6,881 | ||||||
|
ePlus, Inc.* |
472 | 31,331 | ||||||
|
Extreme Networks, Inc.* |
2,301 | 63,163 | ||||||
|
Fabrinet* |
643 | 103,375 | ||||||
|
FormFactor, Inc.* |
1,382 | 48,812 | ||||||
|
Harmonic, Inc.* |
1,997 | 21,328 | ||||||
|
Insight Enterprises, Inc.* |
514 | 82,286 | ||||||
|
InterDigital, Inc. |
472 | 40,927 | ||||||
|
Itron, Inc.* |
810 | 55,412 | ||||||
|
Kulicke & Soffa Industries, Inc. |
1,014 | 52,454 | ||||||
|
LiveRamp Holdings, Inc.* |
1,136 | 36,738 | ||||||
|
Methode Electronics, Inc. |
634 | 20,447 | ||||||
|
NETGEAR, Inc.* |
508 | 6,696 | ||||||
|
NetScout Systems, Inc.* |
1,184 | 33,898 | ||||||
|
OneSpan, Inc.* |
620 | 7,595 | ||||||
|
Onto Innovation, Inc.* |
869 | 120,774 | ||||||
|
OSI Systems, Inc.* |
275 | 37,496 | ||||||
|
Plexus Corp.* |
486 | 49,353 | ||||||
| See Notes to Financial Statements. | 37 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P SmallCap 600 ESG ETF (Continued)
August 31, 2023
|
Number |
Value |
|||||||
| Information Technology (Continued) | ||||||||
|
Progress Software Corp. |
776 | $ | 47,212 | |||||
|
Rambus, Inc.* |
1,929 | 108,931 | ||||||
|
Rogers Corp.* |
330 | 47,688 | ||||||
|
ScanSource, Inc.* |
445 | 14,587 | ||||||
|
Semtech Corp.* |
1,156 | 30,229 | ||||||
|
SPS Commerce, Inc.* |
648 | 120,612 | ||||||
|
Veeco Instruments, Inc.* |
903 | 26,359 | ||||||
|
Viavi Solutions, Inc.* |
3,947 | 41,246 | ||||||
|
|
|
|||||||
|
(Cost $1,384,650) |
1,784,697 | |||||||
|
|
|
|||||||
| Materials — 5.5% | ||||||||
|
AdvanSix, Inc. |
485 | 16,044 | ||||||
|
American Vanguard Corp. |
488 | 6,744 | ||||||
|
Balchem Corp. |
577 | 81,069 | ||||||
|
Carpenter Technology Corp. |
853 | 53,423 | ||||||
|
Century Aluminum Co.* |
898 | 6,681 | ||||||
|
Clearwater Paper Corp.* |
295 | 11,296 | ||||||
|
Compass Minerals International, Inc. |
599 | 18,060 | ||||||
|
Hawkins, Inc. |
332 | 20,647 | ||||||
|
Haynes International, Inc. |
221 | 10,787 | ||||||
|
HB Fuller Co. |
968 | 70,209 | ||||||
|
Innospec, Inc. |
444 | 47,694 | ||||||
|
Kaiser Aluminum Corp. |
280 | 21,258 | ||||||
|
Koppers Holdings, Inc. |
367 | 14,052 | ||||||
|
Livent Corp.*(a) |
3,194 | 68,575 | ||||||
|
Materion Corp. |
369 | 40,144 | ||||||
|
Minerals Technologies, Inc. |
570 | 34,827 | ||||||
|
Quaker Chemical Corp. |
247 | 43,838 | ||||||
|
Stepan Co. |
371 | 32,377 | ||||||
|
SunCoke Energy, Inc. |
1,461 | 13,587 | ||||||
|
TimkenSteel Corp.* |
695 | 15,227 | ||||||
|
Trinseo PLC |
614 | 6,465 | ||||||
|
Warrior Met Coal, Inc. |
930 | 36,791 | ||||||
|
|
|
|||||||
|
(Cost $648,923) |
669,795 | |||||||
|
|
|
|||||||
| Real Estate — 7.7% | ||||||||
|
Acadia Realty Trust REIT |
1,709 | 25,447 | ||||||
|
Alexander & Baldwin, Inc. REIT |
1,278 | 23,017 | ||||||
|
American Assets Trust, Inc. REIT |
919 | 19,676 | ||||||
|
Anywhere Real Estate, Inc.* |
1,955 | 12,825 | ||||||
|
Armada Hoffler Properties, Inc. REIT |
1,186 | 13,508 | ||||||
|
Brandywine Realty Trust REIT |
3,022 | 15,110 | ||||||
|
CareTrust REIT, Inc. REIT |
1,740 | 35,061 | ||||||
|
Centerspace REIT |
261 | 16,897 | ||||||
|
Chatham Lodging Trust REIT |
865 | 8,460 | ||||||
|
Cushman & Wakefield PLC* |
2,851 | 26,201 | ||||||
|
DiamondRock Hospitality Co. REIT |
3,666 | 29,548 | ||||||
|
Easterly Government Properties, Inc. REIT |
1,688 | 22,569 | ||||||
|
Elme Communities REIT |
1,583 | 24,347 | ||||||
|
Four Corners Property Trust, Inc. REIT |
1,557 | 39,174 | ||||||
|
Getty Realty Corp. REIT |
811 | 24,346 | ||||||
|
Hudson Pacific Properties, Inc. REIT |
2,251 | 15,329 | ||||||
|
Innovative Industrial Properties, Inc. REIT |
502 | 43,815 | ||||||
|
JBG SMITH Properties REIT |
1,734 | 27,189 | ||||||
|
Kennedy-Wilson Holdings, Inc. |
2,126 | 33,952 | ||||||
|
LTC Properties, Inc. REIT |
748 | 24,579 | ||||||
|
LXP Industrial Trust REIT |
5,218 | 51,241 | ||||||
|
Office Properties Income Trust REIT |
856 | 6,334 | ||||||
|
Pebblebrook Hotel Trust REIT |
2,215 | 32,051 | ||||||
|
Number |
Value |
|||||||
| Real Estate (Continued) | ||||||||
|
Retail Opportunity Investments Corp. REIT |
2,203 | $ | 29,652 | |||||
|
RPT Realty REIT |
1,577 | 17,883 | ||||||
|
SITE Centers Corp. REIT |
3,198 | 42,693 | ||||||
|
SL Green Realty Corp. REIT (a) |
1,156 | 45,385 | ||||||
|
St Joe Co. |
600 | 37,044 | ||||||
|
Summit Hotel Properties, Inc. REIT |
1,869 | 10,859 | ||||||
|
Sunstone Hotel Investors, Inc. REIT |
3,690 | 33,136 | ||||||
|
Tanger Factory Outlet Centers, Inc. REIT |
1,883 | 43,780 | ||||||
|
Uniti Group, Inc. REIT |
4,149 | 22,280 | ||||||
|
Urban Edge Properties REIT |
2,083 | 34,078 | ||||||
|
Veris Residential, Inc. REIT* |
1,402 | 26,091 | ||||||
|
Whitestone REIT |
834 | 8,340 | ||||||
|
Xenia Hotels & Resorts, Inc. REIT |
1,905 | 22,479 | ||||||
|
|
|
|||||||
|
(Cost $1,035,863) |
944,376 | |||||||
|
|
|
|||||||
| Utilities — 2.0% | ||||||||
|
American States Water Co. |
648 | 54,568 | ||||||
|
Avista Corp. |
1,351 | 44,975 | ||||||
|
California Water Service Group |
999 | 50,200 | ||||||
|
Middlesex Water Co. |
309 | 23,255 | ||||||
|
Northwest Natural Holding Co. |
648 | 25,453 | ||||||
|
SJW Group |
496 | 32,617 | ||||||
|
Unitil Corp. |
280 | 13,670 | ||||||
|
|
|
|||||||
|
(Cost $270,114) |
244,738 | |||||||
|
|
|
|||||||
|
TOTAL
COMMON STOCKS |
12,242,147 | |||||||
|
|
|
|||||||
| OTHER INVESTMENTS — 0.0% | ||||||||
| Health Care — 0.0% | ||||||||
|
Omniab, Inc. $12.50 Earnout*(b)(c) |
105 | 0 | ||||||
|
Omniab, Inc. $15.00 Earnout*(b)(c) |
105 | 0 | ||||||
|
|
|
|||||||
|
(Cost $0) |
0 | |||||||
|
|
|
|||||||
|
TOTAL
OTHER INVESTMENTS |
0 | |||||||
|
|
|
|||||||
| EXCHANGE-TRADED FUNDS — 0.1% | ||||||||
|
iShares ESG Screened S&P Small-Cap ETF |
20 | 707 | ||||||
|
SPDR Portfolio S&P 600 Small Cap ETF |
63 | 2,475 | ||||||
|
|
|
|||||||
|
(Cost $2,877) |
3,182 | |||||||
|
|
|
|||||||
| SECURITIES LENDING COLLATERAL — 1.2% | ||||||||
|
DWS
Government & Agency Securities Portfolio “DWS Government Cash
Institutional Shares”, 5.27% (d)(e) |
145,100 | 145,100 | ||||||
|
|
|
|||||||
| CASH EQUIVALENTS — 0.0% | ||||||||
|
DWS
Government Money Market Series “Institutional Shares”, 5.28% (d) |
4,613 | 4,613 | ||||||
|
|
|
|||||||
|
TOTAL INVESTMENTS — 101.2% (Cost $11,795,142) |
$ | 12,395,042 | ||||||
|
Other assets and liabilities, net — (1.2%) |
(141,560 | ) | ||||||
|
|
|
|||||||
|
NET ASSETS — 100.0% |
$ | 12,253,482 | ||||||
|
|
|
|||||||
| See Notes to Financial Statements. | 38 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P SmallCap 600 ESG ETF (Continued)
August 31, 2023
A summary of the Fund’s transactions with affiliated investments during the year ended August 31, 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 ($) |
Number of Shares at 8/31/2023 |
Value ($) at 8/31/2023 |
||||||||||||||||||||||||||||
|
SECURITIES LENDING COLLATERAL — 1.2% |
| |||||||||||||||||||||||||||||||||||
|
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.27% (d)(e) |
| |||||||||||||||||||||||||||||||||||
| 22,525 | 122,575 | (f) | — | — | — | 508 | — | 145,100 | 145,100 | |||||||||||||||||||||||||||
|
CASH EQUIVALENTS — 0.0% |
| |||||||||||||||||||||||||||||||||||
|
DWS Government Money Market Series “Institutional Shares”, 5.28% (d) |
| |||||||||||||||||||||||||||||||||||
| 33,982 | 398,587 | (427,956 | ) | — | — | 248 | — | 4,613 | 4,613 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
| 56,507 | 521,162 | (427,956 | ) | — | — | 756 | — | 149,713 | 149,713 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
| * |
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 August 31, 2023 amounted to $140,371, which is 1.1% of net assets. |
| (b) |
Investment was valued using significant unobservable inputs. |
| (c) |
Earnout Shares: Will vest based upon the achievement of certain volume-weighted average trading prices (VWAP) for shares of OmniAb, Inc. Earnout Shares are not transferrable until the vesting condition for the applicable tranche of Earnout Shares has been achieved. |
| (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. |
| (f) |
Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the year ended August 31, 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 August 31, 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) |
$ | 12,242,147 | $ | — | $ | — | $ | 12,242,147 | ||||||||
|
Other Investments |
— | — | 0 | 0 | ||||||||||||
|
Exchange-Traded Funds |
3,182 | — | — | 3,182 | ||||||||||||
|
Short-Term Investments (a) |
149,713 | — | — | 149,713 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
TOTAL |
$ | 12,395,042 | $ | — | $ | 0 | $ | 12,395,042 | ||||||||
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|
|
|||||||||
| (a) |
See Schedule of Investments for additional detailed categorizations. |
| See Notes to Financial Statements. | 39 |
DBX ETF Trust
August 31, 2023
| Xtrackers S&P 500 ESG ETF |
Xtrackers S&P 500 Growth ESG ETF |
Xtrackers S&P 500 Value ESG ETF |
Xtrackers S&P ESG Dividend Aristocrats ETF |
|||||||||||||
|
Assets |
||||||||||||||||
|
Investment in non-affiliated securities at value |
$ | 882,437,630 | $ | 6,557,966 | $ | 5,308,401 | $ | 4,999,435 | ||||||||
|
Investment in DWS Government Money Market Series |
1,432,502 | 1,630 | 493 | 1,971 | ||||||||||||
|
Deposit with broker for futures contracts |
143,000 | — | — | — | ||||||||||||
| Receivables: | ||||||||||||||||
|
Dividends |
1,235,921 | 8,344 | 9,324 | 13,747 | ||||||||||||
|
Interest |
4,918 | 6 | 16 | 12 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Total assets |
$ | 885,253,971 | $ | 6,567,946 | $ | 5,318,234 | $ | 5,015,165 | ||||||||
|
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|
|
|
|
|
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|
|||||||||
|
Liabilities |
||||||||||||||||
| Payables: | ||||||||||||||||
|
Investment securities purchased |
$ | — | $ | — | $ | — | $ | 3,574 | ||||||||
|
Investment advisory fees |
72,993 | 817 | 675 | 641 | ||||||||||||
|
Variation margin on futures contracts |
27,296 | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Total liabilities |
100,289 | 817 | 675 | 4,215 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net Assets, at value |
$ | 885,153,682 | $ | 6,567,129 | $ | 5,317,559 | $ | 5,010,950 | ||||||||
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|
|
|
|
|
|
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|
|||||||||
|
Net Assets Consist of |
||||||||||||||||
|
Paid-in capital |
$ | 856,250,174 | $ | 5,513,707 | $ | 5,000,025 | $ | 5,074,580 | ||||||||
|
Distributable earnings (loss) |
28,903,508 | 1,053,422 | 317,534 | (63,630 | ) | |||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net Assets, at value |
$ | 885,153,682 | $ | 6,567,129 | $ | 5,317,559 | $ | 5,010,950 | ||||||||
|
|
|
|
|
|
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|
|||||||||
|
Number of Common Shares outstanding |
21,400,001 | 200,001 | 200,001 | 200,001 | ||||||||||||
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|
|
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|
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|
|||||||||
|
Net Asset Value |
$ | 41.36 | $ | 32.84 | $ | 26.59 | $ | 25.05 | ||||||||
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|
|
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|||||||||
|
Investment in non-affiliated securities at cost |
$ | 837,995,246 | $ | 5,454,728 | $ | 4,987,971 | $ | 5,009,430 | ||||||||
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|
|
|
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|
Investment in DWS Government Money Market Series at cost |
$ | 1,432,502 | $ | 1,630 | $ | 493 | $ | 1,971 | ||||||||
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| See Notes to Financial Statements. | 40 |
DBX ETF Trust
Statements of Assets and Liabilities (Continued)
August 31, 2023
| Xtrackers S&P MidCap 400 ESG ETF |
Xtrackers S&P SmallCap 600 ESG ETF |
|||||||
|
Assets |
||||||||
|
Investment in non-affiliated securities at value |
$ | 11,933,734 | $ | 12,245,329 | ||||
|
Investment in DWS Government Money Market Series |
9,093 | 4,613 | ||||||
|
Investment in DWS Government & Agency Securities Portfolio* |
77,625 | 145,100 | ||||||
| Receivables: | ||||||||
|
Investment securities sold |
— | 20,712 | ||||||
|
Dividends |
11,557 | 12,291 | ||||||
|
Interest |
50 | 19 | ||||||
|
Securities lending income |
7 | 32 | ||||||
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|
|
|
|||||
|
Total assets |
$ | 12,032,066 | $ | 12,428,096 | ||||
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|||||
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Liabilities |
||||||||
|
Payable upon return of securities loaned |
$ | 77,625 | $ | 145,100 | ||||
| Payables: | ||||||||
|
Investment securities purchased |
— | 27,955 | ||||||
|
Investment advisory fees |
1,516 | 1,559 | ||||||
|
|
|
|
|
|||||
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Total liabilities |
79,141 | 174,614 | ||||||
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|
|||||
|
Net Assets, at value |
$ | 11,952,925 | $ | 12,253,482 | ||||
|
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|
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|
|||||
|
Net Assets Consist of |
||||||||
|
Paid-in capital |
$ | 11,668,515 | $ | 12,731,023 | ||||
|
Distributable earnings (loss) |
284,410 | (477,541 | ) | |||||
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|
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|
|||||
|
Net Assets, at value |
$ | 11,952,925 | $ | 12,253,482 | ||||
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|
|||||
|
Number of Common Shares outstanding |
450,001 | 500,001 | ||||||
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|
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|
|||||
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Net Asset Value |
$ | 26.56 | $ | 24.51 | ||||
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|
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|
|||||
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Investment in non-affiliated securities at cost |
$ | 11,141,610 | $ | 11,645,429 | ||||
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|
|
|
|||||
|
Value of securities loaned |
$ | 75,528 | $ | 140,371 | ||||
|
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|
|||||
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Investment in DWS Government Money Market Series at cost |
$ | 9,093 | $ | 4,613 | ||||
|
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|
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|
|||||
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Investment in DWS Government & Agency Securities Portfolio at cost* |
$ | 77,625 | $ | 145,100 | ||||
|
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|
|||||
| * |
Represents collateral on securities loaned. |
| See Notes to Financial Statements. | 41 |
DBX ETF Trust
For the Year Ended August 31, 2023
| Xtrackers S&P 500 ESG ETF |
Xtrackers S&P 500 Growth ESG ETF(1) |
Xtrackers S&P 500 Value ESG ETF(1) |
Xtrackers S&P ESG Dividend Aristocrats ETF(1) |
|||||||||||||
|
Investment Income |
||||||||||||||||
|
Unaffiliated dividend income* |
$ | 12,503,674 | $ | 58,511 | $ | 99,482 | $ | 117,717 | ||||||||
|
Affiliated dividend income |
— | — | — | 118 | ||||||||||||
|
Income distributions from affiliated funds |
64,810 | 109 | 107 | 163 | ||||||||||||
|
Affiliated securities lending income |
2 | 1 | 3 | 5 | ||||||||||||
|
Unaffiliated securities lending income, net of borrower rebates |
8,867 | 103 | — | 1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Total investment income |
12,577,353 | 58,724 | 99,592 | 118,004 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Expenses |
||||||||||||||||
|
Investment advisory fees |
801,959 | 6,976 | 6,271 | 6,133 | ||||||||||||
|
Other expenses |
58 | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Total expenses |
802,017 | 6,976 | 6,271 | 6,133 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Less fees waived (see note 3): |
||||||||||||||||
|
Waiver |
(74,020 | ) | (1 | ) | (1 | ) | (3 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net expenses |
727,997 | 6,975 | 6,270 | 6,130 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net investment income (loss) |
11,849,356 | 51,749 | 93,322 | 111,874 | ||||||||||||
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|
|
|
|
|
|
|
|
|||||||||
|
Realized and Unrealized Gain (Loss) |
||||||||||||||||
|
Net realized gain (loss) from: |
||||||||||||||||
|
Investments |
(13,583,521 | ) | (67,505 | ) | (23,756 | ) | (79,500 | ) | ||||||||
|
Investments in affiliates |
— | — | — | 1,007 | ||||||||||||
|
In-kind redemptions |
38,801,871 | 524,991 | — | 87,740 | ||||||||||||
|
Futures contracts |
6,841 | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net realized gain (loss) |
25,225,191 | 457,486 | (23,756 | ) | 9,247 | |||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net change in unrealized appreciation (depreciation) on: |
||||||||||||||||
|
Investments |
83,739,141 | 1,103,238 | 320,430 | (9,995 | ) | |||||||||||
|
Futures contracts |
60,342 | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net change in unrealized appreciation (depreciation) |
83,799,483 | 1,103,238 | 320,430 | (9,995 | ) | |||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net realized and unrealized gain (loss) on investments and futures |
109,024,674 | 1,560,724 | 296,674 | (748 | ) | |||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net Increase (Decrease) in Net Assets Resulting from Operations |
$ | 120,874,030 | $ | 1,612,473 | $ | 389,996 | $ | 111,126 | ||||||||
|
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|
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|
|||||||||
|
* Unaffiliated foreign tax withheld |
$ | 1,154 | $ | — | $ | 7 | $ | — | ||||||||
| (1) |
For the period November 9, 2022 (commencement of operations) through August 31, 2023. |
| See Notes to Financial Statements. | 42 |
DBX ETF Trust
Statements of Operations (Continued)
For the Year Ended August 31, 2023
| Xtrackers S&P MidCap 400 ESG ETF |
Xtrackers S&P SmallCap 600 ESG ETF |
|||||||
|
Investment Income |
||||||||
|
Unaffiliated dividend income* |
$ | 180,432 | $ | 180,231 | ||||
|
Income distributions from affiliated funds |
317 | 248 | ||||||
|
Affiliated securities lending income |
374 | 508 | ||||||
|
Unaffiliated securities lending income, net of borrower rebates |
287 | 890 | ||||||
|
|
|
|
|
|||||
|
Total investment income |
181,410 | 181,877 | ||||||
|
|
|
|
|
|||||
|
Expenses |
||||||||
|
Investment advisory fees |
17,036 | 16,088 | ||||||
|
Other expenses |
58 | 58 | ||||||
|
|
|
|
|
|||||
|
Total expenses |
17,094 | 16,146 | ||||||
|
|
|
|
|
|||||
|
Less fees waived (see note 3): |
||||||||
|
Waiver |
(5 | ) | (4 | ) | ||||
|
|
|
|
|
|||||
|
Net expenses |
17,089 | 16,142 | ||||||
|
|
|
|
|
|||||
|
Net investment income (loss) |
164,321 | 165,735 | ||||||
|
|
|
|
|
|||||
|
Realized and Unrealized Gain (Loss) |
||||||||
|
Net realized gain (loss) from: |
||||||||
|
Investments |
(229,076 | ) | (666,285 | ) | ||||
|
|
|
|
|
|||||
|
Net realized gain (loss) |
(229,076 | ) | (666,285 | ) | ||||
|
|
|
|
|
|||||
|
Net change in unrealized appreciation (depreciation) on: |
||||||||
|
Investments |
1,170,609 | 1,194,348 | ||||||
|
|
|
|
|
|||||
|
Net change in unrealized appreciation (depreciation) |
1,170,609 | 1,194,348 | ||||||
|
|
|
|
|
|||||
|
Net realized and unrealized gain (loss) on investments |
941,533 | 528,063 | ||||||
|
|
|
|
|
|||||
|
Net Increase (Decrease) in Net Assets Resulting from Operations |
$ | 1,105,854 | $ | 693,798 | ||||
|
|
|
|
|
|||||
|
* Unaffiliated foreign tax withheld |
$ | — | $ | 196 | ||||
| See Notes to Financial Statements. | 43 |
DBX ETF Trust
| Xtrackers S&P 500 ESG ETF | Xtrackers S&P 500 Growth ESG ETF |
Xtrackers S&P 500 Value ESG ETF |
||||||||||||||
| Year Ended August 31, 2023 |
Year Ended August 31, 2022 |
For the Period November 9, 2022(1) to August 31, 2023 |
For the Period November 9, 2022(1) to August 31, 2023 |
|||||||||||||
|
Increase (Decrease) in Net Assets from Operations |
||||||||||||||||
|
Net investment income (loss) |
$ | 11,849,356 | $ | 11,009,626 | $ | 51,749 | $ | 93,322 | ||||||||
|
Net realized gain (loss) |
25,225,191 | 82,828,583 | 457,486 | (23,756 | ) | |||||||||||
|
Net change in net unrealized appreciation (depreciation) |
83,799,483 | (185,980,755 | ) | 1,103,238 | 320,430 | |||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net increase (decrease) in net assets resulting from operations |
120,874,030 | (92,142,546 | ) | 1,612,473 | 389,996 | |||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Distributions to Shareholders |
(11,480,600 | ) | (10,676,805 | ) | (37,566 | ) | (72,462 | ) | ||||||||
|
|
|
|
|
|
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|
|
|||||||||
|
Fund Shares Transactions |
||||||||||||||||
|
Proceeds from shares sold |
315,559,828 | 454,290,442 | 7,802,232 | 5,000,000 | ||||||||||||
|
Value of shares redeemed |
(287,664,724 | ) | (348,358,077 | ) | (2,810,035 | ) | — | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net increase (decrease) in net assets resulting from fund share transactions |
27,895,104 | 105,932,365 | 4,992,197 | 5,000,000 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Total net increase (decrease) in Net Assets |
137,288,534 | 3,113,014 | 6,567,104 | 5,317,534 | ||||||||||||
|
Net Assets |
||||||||||||||||
|
Beginning of period |
747,865,148 | 744,752,134 | 25 | 25 | ||||||||||||
|
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|
|
|
|
|
|
|||||||||
|
End of period |
$ | 885,153,682 | $ | 747,865,148 | $ | 6,567,129 | $ | 5,317,559 | ||||||||
|
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|
|
|
|
|
|
|||||||||
|
Changes in Shares Outstanding |
||||||||||||||||
|
Shares outstanding, beginning of period |
21,000,001 | 18,650,001 | 1 | 1 | ||||||||||||
|
Shares sold |
8,450,000 | 11,650,000 | 300,000 | 200,000 | ||||||||||||
|
Shares redeemed |
(8,050,000 | ) | (9,300,000 | ) | (100,000 | ) | — | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Shares outstanding, end of period |
21,400,001 | 21,000,001 | 200,001 | 200,001 | ||||||||||||
|
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|
|
|
|
|
|
|||||||||
| (1) |
Commencement of Operations. |
| See Notes to Financial Statements. | 44 |
DBX ETF Trust
Statements of Changes in Net Assets (Continued)
| Xtrackers S&P ESG Dividend Aristocrats ETF |
Xtrackers S&P MidCap 400 ESG ETF |
Xtrackers S&P SmallCap 600 ESG ETF |
||||||||||||||||||
| For the Period November 9, 2022(1) to August 31, 2023 |
Year Ended August 31, 2023 |
Year Ended August 31, 2022 |
Year Ended August 31, 2023 |
Year Ended August 31, 2022 |
||||||||||||||||
|
Increase (Decrease) in Net Assets from Operations |
||||||||||||||||||||
|
Net investment income (loss) |
$ | 111,874 | $ | 164,321 | $ | 134,537 | $ | 165,735 | $ | 125,129 | ||||||||||
|
Net realized gain (loss) |
9,247 | (229,076 | ) | (119,108 | ) | (666,285 | ) | (145,350 | ) | |||||||||||
|
Net change in net unrealized appreciation (depreciation) |
(9,995 | ) | 1,170,609 | (1,161,848 | ) | 1,194,348 | (1,080,165 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Net increase (decrease) in net assets resulting from operations |
111,126 | 1,105,854 | (1,146,419 | ) | 693,798 | (1,100,386 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Distributions to Shareholders |
(87,024 | ) | (160,493 | ) | (125,672 | ) | (153,399 | ) | (182,588 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Fund Shares Transactions |
||||||||||||||||||||
|
Proceeds from shares sold |
6,282,907 | — | 2,580,181 | 2,320,499 | 1,210,311 | |||||||||||||||
|
Value of shares redeemed |
(1,296,084 | ) | — | (1,257,281 | ) | — | (1,205,460 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Net increase (decrease) in net assets resulting from fund share transactions |
4,986,823 | — | 1,322,900 | 2,320,499 | 4,851 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Total net increase (decrease) in Net Assets |
5,010,925 | 945,361 | 50,809 | 2,860,898 | (1,278,123 | ) | ||||||||||||||
|
Net Assets |
||||||||||||||||||||
|
Beginning of period |
25 | 11,007,564 | 10,956,755 | 9,392,584 | 10,670,707 | |||||||||||||||
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|
|
|
|
|
|
|
|
|
|
|||||||||||
|
End of period |
$ | 5,010,950 | $ | 11,952,925 | $ | 11,007,564 | $ | 12,253,482 | $ | 9,392,584 | ||||||||||
|
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|
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|
|
|
|||||||||||
|
Changes in Shares Outstanding |
||||||||||||||||||||
|
Shares outstanding, beginning of period |
1 | 450,001 | 400,001 | 400,001 | 400,001 | |||||||||||||||
|
Shares sold |
250,000 | — | 100,000 | 100,000 | 50,000 | |||||||||||||||
|
Shares redeemed |
(50,000 | ) | — | (50,000 | ) | — | (50,000 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Shares outstanding, end of period |
200,001 | 450,001 | 450,001 | 500,001 | 400,001 | |||||||||||||||
|
|
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|
|
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|
|
|
|
|||||||||||
| (1) |
Commencement of Operations. |
| See Notes to Financial Statements. | 45 |
DBX ETF Trust
| Xtrackers
S&P 500 ESG ETF Selected Per Share Data |
Years Ended August 31, | Period Ended 8/31/2019(a) |
||||||||||||||||||
| 2023 | 2022 | 2021 | 2020 | |||||||||||||||||
|
Net Asset Value, beginning of period |
$ | 35.61 | $ | 39.93 | $ | 31.08 | $ | 25.30 | $ | 25.00 | ||||||||||
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| Income (loss) from investment operations: | ||||||||||||||||||||
|
Net investment income (loss)(b) |
0.60 | 0.53 | 0.49 | 0.50 | 0.10 | |||||||||||||||
|
Net realized and unrealized gain (loss) |
5.72 | (4.32 | ) | 8.79 | 5.85 | 0.20 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Total from investment operations |
6.32 | (3.79 | ) | 9.28 | 6.35 | 0.30 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Less distributions from: |
| |||||||||||||||||||
|
Net investment income |
(0.57 | ) | (0.53 | ) | (0.43 | ) | (0.57 | ) | — | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Total distributions |
(0.57 | ) | (0.53 | ) | (0.43 | ) | (0.57 | ) | — | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Net Asset Value, end of period |
$ | 41.36 | $ | 35.61 | $ | 39.93 | $ | 31.08 | $ | 25.30 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Total Return (%)(c) |
17.99 | (9.59 | ) | 30.16 | 25.71 | 1.20 | ** | |||||||||||||
|
Ratios to Average Net Assets and Supplemental Data |
||||||||||||||||||||
|
Net Assets, end of period ($ millions) |
885 | 748 | 745 | 270 | 11 | |||||||||||||||
|
Ratio of expenses before fee waiver (%) |
0.11 | 0.11 | 0.11 | 0.11 | 0.11 | * | ||||||||||||||
|
Ratio of expenses after fee waiver (%) |
0.10 | 0.10 | 0.10 | 0.11 | 0.11 | * | ||||||||||||||
|
Ratio of net investment income (loss) (%) |
1.63 | 1.37 | 1.41 | 1.86 | 2.08 | * | ||||||||||||||
|
Portfolio turnover rate (%)(d) |
9 | 6 | 13 | 11 | 0 | ** | ||||||||||||||
| Xtrackers S&P 500
Growth ESG ETF Selected Per Share Data |
Period Ended 8/31/2023(e) |
|||||||||||||||||||
|
Net Asset Value, beginning of period |
$ | 25.00 | ||||||||||||||||||
|
|
|
|||||||||||||||||||
| Income (loss) from investment operations: | ||||||||||||||||||||
|
Net investment income (loss)(b) |
0.26 | |||||||||||||||||||
|
Net realized and unrealized gain (loss) |
7.77 | |||||||||||||||||||
|
|
|
|||||||||||||||||||
|
Total from investment operations |
8.03 | |||||||||||||||||||
|
|
|
|||||||||||||||||||
| Less distributions from: |
|
|||||||||||||||||||
|
Net investment income |
(0.19 | ) | ||||||||||||||||||
|
|
|
|||||||||||||||||||
|
Total distributions |
(0.19 | ) | ||||||||||||||||||
|
|
|
|||||||||||||||||||
|
Net Asset Value, end of period |
$ | 32.84 | ||||||||||||||||||
|
|
|
|||||||||||||||||||
|
Total Return (%)(c) |
32.23 | ** | ||||||||||||||||||
|
Ratios to Average Net Assets and Supplemental Data |
||||||||||||||||||||
|
Net Assets, end of period ($ millions) |
7 | |||||||||||||||||||
|
Ratio of expenses before fee waiver (%) |
0.15 | * | ||||||||||||||||||
|
Ratio of expenses after fee waiver (%) |
0.15 | * | ||||||||||||||||||
|
Ratio of net investment income (loss) (%) |
1.11 | * | ||||||||||||||||||
|
Portfolio turnover rate (%)(d) |
57 | ** | ||||||||||||||||||
| (a) |
For the period June 26, 2019 (commencement of operations) through August 31, 2019. |
| (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. |
| (e) |
For the period November 9, 2022 (commencement of operations) through August 31, 2023. |
| * |
Annualized. |
| ** |
Not Annualized. |
| See Notes to Financial Statements. | 46 |
DBX ETF Trust
Financial Highlights (Continued)
| Xtrackers S&P 500
Value ESG ETF Selected Per Share Data |
Period Ended 8/31/2023(a) |
|||||||||||||||||||
|
Net Asset Value, beginning of period |
$ | 25.00 | ||||||||||||||||||
|
|
|
|||||||||||||||||||
|
Income (loss) from investment operations: |
||||||||||||||||||||
|
Net investment income (loss)(b) |
0.47 | |||||||||||||||||||
|
Net realized and unrealized gain (loss) |
1.48 | |||||||||||||||||||
|
|
|
|||||||||||||||||||
|
Total from investment operations |
1.95 | |||||||||||||||||||
|
|
|
|||||||||||||||||||
| Less distributions from: |
|
|||||||||||||||||||
|
Net investment income |
(0.36 | ) | ||||||||||||||||||
|
|
|
|||||||||||||||||||
|
Total distributions |
(0.36 | ) | ||||||||||||||||||
|
|
|
|||||||||||||||||||
|
Net Asset Value, end of period |
$ | 26.59 | ||||||||||||||||||
|
|
|
|||||||||||||||||||
|
Total Return (%)(c) |
7.91 | ** | ||||||||||||||||||
|
Ratios to Average Net Assets and Supplemental Data |
||||||||||||||||||||
|
Net Assets, end of period ($ millions) |
5 | |||||||||||||||||||
|
Ratio of expenses before fee waiver (%) |
0.15 | * | ||||||||||||||||||
|
Ratio of expenses after fee waiver (%) |
0.15 | * | ||||||||||||||||||
|
Ratio of net investment income (loss) (%) |
2.23 | * | ||||||||||||||||||
|
Portfolio turnover rate (%)(d) |
66 | ** | ||||||||||||||||||
| Xtrackers S&P ESG
Dividend Aristocrats ETF Selected Per Share Data |
Period Ended 8/31/2023(a) |
|||||||||||||||||||
|
Net Asset Value, beginning of period |
$ | 25.00 | ||||||||||||||||||
|
|
|
|||||||||||||||||||
|
Income (loss) from investment operations: |
||||||||||||||||||||
|
Net investment income (loss)(b) |
0.56 | |||||||||||||||||||
|
Net realized and unrealized gain (loss) |
(0.07 | ) | ||||||||||||||||||
|
|
|
|||||||||||||||||||
|
Total from investment operations |
0.49 | |||||||||||||||||||
|
|
|
|||||||||||||||||||
| Less distributions from: |
|
|||||||||||||||||||
|
Net investment income |
(0.44 | ) | ||||||||||||||||||
|
|
|
|||||||||||||||||||
|
Total distributions |
(0.44 | ) | ||||||||||||||||||
|
|
|
|||||||||||||||||||
|
Net Asset Value, end of period |
$ | 25.05 | ||||||||||||||||||
|
|
|
|||||||||||||||||||
|
Total Return (%)(c) |
1.99 | ** | ||||||||||||||||||
|
Ratios to Average Net Assets and Supplemental Data |
||||||||||||||||||||
|
Net Assets, end of period ($ millions) |
5 | |||||||||||||||||||
|
Ratio of expenses before fee waiver (%) |
0.15 | * | ||||||||||||||||||
|
Ratio of expenses after fee waiver (%) |
0.15 | * | ||||||||||||||||||
|
Ratio of net investment income (loss) (%) |
2.74 | * | ||||||||||||||||||
|
Portfolio turnover rate (%)(d) |
29 | ** | ||||||||||||||||||
| (a) |
For the period November 9, 2022 (commencement of operations) through August 31, 2023. |
| (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. | 47 |
DBX ETF Trust
Financial Highlights (Continued)
| Xtrackers
S&P MidCap 400 ESG ETF Selected Per Share Data |
Years Ended August 31, |
Period Ended 8/31/2021(a) |
||||||||||
| 2023 | 2022 | |||||||||||
|
Net Asset Value, beginning of period |
$ | 24.46 | $ | 27.39 | $ | 25.00 | ||||||
|
|
|
|
|
|
|
|||||||
| Income (loss) from investment operations: | ||||||||||||
|
Net investment income (loss)(b) |
0.37 | 0.32 | 0.14 | |||||||||
|
Net realized and unrealized gain (loss) |
2.09 | (2.94 | ) | 2.33 | ||||||||
|
|
|
|
|
|
|
|||||||
|
Total from investment operations |
2.46 | (2.62 | ) | 2.47 | ||||||||
|
|
|
|
|
|
|
|||||||
| Less distributions from: |
| |||||||||||
|
Net investment income |
(0.36 | ) | (0.31 | ) | (0.08 | ) | ||||||
|
|
|
|
|
|
|
|||||||
|
Total distributions |
(0.36 | ) | (0.31 | ) | (0.08 | ) | ||||||
|
|
|
|
|
|
|
|||||||
|
Net Asset Value, end of period |
$ | 26.56 | $ | 24.46 | $ | 27.39 | ||||||
|
|
|
|
|
|
|
|||||||
|
Total Return (%)(c) |
10.18 | (9.64 | ) | 9.92 | ** | |||||||
|
Ratios to Average Net Assets and Supplemental Data |
||||||||||||
|
Net Assets, end of period ($ millions) |
12 | 11 | 11 | |||||||||
|
Ratio of expenses before fee waiver (%) |
0.15 | 0.15 | 0.15 | * | ||||||||
|
Ratio of expenses after fee waiver (%) |
0.15 | 0.15 | 0.15 | * | ||||||||
|
Ratio of net investment income (loss) (%) |
1.45 | 1.24 | 1.00 | * | ||||||||
|
Portfolio turnover rate (%)(d) |
39 | 41 | 27 | ** | ||||||||
| Xtrackers
S&P SmallCap 600 ESG ETF Selected Per Share Data |
Years Ended August 31, |
Period Ended 8/31/2021(a) |
||||||||||
| 2023 | 2022 | |||||||||||
|
Net Asset Value, beginning of period |
$ | 23.48 | $ | 26.68 | $ | 25.00 | ||||||
|
|
|
|
|
|
|
|||||||
| Income (loss) from investment operations: | ||||||||||||
|
Net investment income (loss)(b) |
0.36 | 0.31 | 0.16 | |||||||||
|
Net realized and unrealized gain (loss) |
1.01 | (3.05 | ) | 1.59 | ||||||||
|
|
|
|
|
|
|
|||||||
|
Total from investment operations |
1.37 | (2.74 | ) | 1.75 | ||||||||
|
|
|
|
|
|
|
|||||||
| Less distributions from: |
| |||||||||||
|
Net investment income |
(0.34 | ) | (0.34 | ) | (0.07 | ) | ||||||
|
Net realized gains |
— | (0.12 | ) | — | ||||||||
|
|
|
|
|
|
|
|||||||
|
Total distributions |
(0.34 | ) | (0.46 | ) | (0.07 | ) | ||||||
|
|
|
|
|
|
|
|||||||
|
Net Asset Value, end of period |
$ | 24.51 | $ | 23.48 | $ | 26.68 | ||||||
|
|
|
|
|
|
|
|||||||
|
Total Return (%)(c) |
5.95 | (10.43 | ) | 7.01 | ** | |||||||
|
Ratios to Average Net Assets and Supplemental Data |
||||||||||||
|
Net Assets, end of period ($ millions) |
12 | 9 | 11 | |||||||||
|
Ratio of expenses before fee waiver (%) |
0.15 | 0.15 | 0.15 | * | ||||||||
|
Ratio of expenses after fee waiver (%) |
0.15 | 0.15 | 0.15 | * | ||||||||
|
Ratio of net investment income (loss) (%) |
1.55 | 1.22 | 1.19 | * | ||||||||
|
Portfolio turnover rate (%)(d) |
31 | 43 | 25 | ** | ||||||||
| (a) |
For the period February 24, 2021 (commencement of operations) through August 31, 2021. |
| (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. | 48 |
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 August 31, 2023, the Trust consists of forty-two 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 S&P 500 ESG ETF |
| Xtrackers S&P 500 Growth ESG ETF |
| Xtrackers S&P 500 Value ESG ETF |
| Xtrackers S&P ESG Dividend Aristocrats ETF |
| Xtrackers S&P MidCap 400 ESG ETF |
| Xtrackers S&P SmallCap 600 ESG 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”).
Xtrackers S&P 500 ESG ETF, Xtrackers S&P MidCap 400 ESG ETF and Xtrackers S&P SmallCap 600 ESG ETF offers shares that are listed and traded on the NYSE Arca, Inc. (“NYSE Arca”). Xtrackers S&P 500 Growth ESG ETF, Xtrackers S&P 500 Value ESG ETF and Xtrackers S&P ESG Dividend Aristocrats ETF offers shares that are listed and traded on the Cboe BZX Exchange, Inc. (“Cboe”). 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, 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 S&P 500 ESG ETF | S&P 500 ESG Index | |
| Xtrackers S&P 500 Growth ESG ETF | S&P 500 Growth ESG Index | |
| Xtrackers S&P 500 Value ESG ETF | S&P 500 Value ESG Index | |
| Xtrackers S&P ESG Dividend Aristocrats ETF | S&P ESG High Yield Dividend Aristocrats Index | |
| Xtrackers S&P MidCap 400 ESG ETF | S&P MidCap 400 ESG Index | |
| Xtrackers S&P SmallCap 600 ESG ETF | S&P SmallCap 600 ESG Index |
S&P 500 ESG Index is a broad-based, market capitalization weighted index that is designed to measure the performance of companies meeting environmental, social and governance (ESG) criteria, while maintaining similar overall industry group weights as the S&P 500 Index. Under normal circumstances, the Underlying Index is rebalanced annually, effective after the close of the last business day of April. The Fund rebalances its portfolio in accordance with the Underlying Index, and therefore, any changes to the Underlying Index’s rebalance schedule will result in corresponding changes to the Fund’s rebalance schedule.
S&P 500 Growth ESG Index is a broad-based, market capitalization weighted index that provides exposure to companies with high ESG performance relative to their sector peers, while maintaining similar overall industry group weights as the S&P 500 Growth Index. Under normal circumstances, the Underlying Index is rebalanced annually, effective after the close of the last business day of April. In addition, the Underlying Index reweights quarterly after the close of business on the last working day of July, October and January. The Fund rebalances/reweights its portfolio in accordance with the Underlying Index, and therefore, any changes to the Underlying Index’s rebalance/reweighting schedule will result in corresponding changes to the Fund’s rebalance/reweighting schedule.
49
DBX ETF Trust
Notes to Financial Statements (Continued)
S&P 500 Value ESG Index is a broad-based, market capitalization weighted index that provides exposure to companies with high ESG performance relative to their sector peers, while maintaining similar overall industry group weights as the S&P 500 Value Index. Under normal circumstances, the Underlying Index is rebalanced annually, effective after the close of the last business day of April. In addition, the Underlying Index reweights quarterly after the close of business on the last working day of July, October and January. The Fund rebalances/reweights its portfolio in accordance with the Underlying Index, and therefore, any changes to the Underlying Index’s rebalance/reweighting schedule will result in corresponding changes to the Fund’s rebalance/reweighting schedule.
S&P ESG High Yield Dividend Aristocrats Index is designed to measure the performance of constituents from the S&P High Yield Dividend Aristocrats Index that meet certain environmental, social and governance (“ESG”) criteria. Under normal circumstances, the Underlying Index is rebalanced annually, effective after the close of the last business day of January. Constituent weights are updated quarterly after the close of the last business day in April, July and October. The Fund rebalances its portfolio in accordance with the Underlying Index, and therefore, any changes to the Underlying Index’s rebalance schedule will result in corresponding changes to the Fund’s rebalance schedule.
S&P MidCap 400 ESG Index is a broad-based, market capitalization weighted index that is designed to measure the performance of companies meeting environmental, social and governance (ESG) criteria, while maintaining similar overall industry group weights as the S&P MidCap 400 Index. Under normal circumstances, the Underlying Index is rebalanced annually, effective after the close of the last business day of April. The Fund rebalances its portfolio in accordance with the Underlying Index, and, therefore, any changes to the Underlying Index’s rebalance schedule will result in corresponding changes to the Fund’s rebalance schedule.
S&P SmallCap 600 ESG is a broad-based, market capitalization weighted index that is designed to measure the performance of companies meeting environmental, social and governance (ESG) criteria, while maintaining similar overall industry group weights as the S&P SmallCap 600 Index. Under normal circumstances, the Underlying Index is rebalanced annually, effective after the close of the last business day of April. The Fund rebalances its portfolio in accordance with the Underlying Index, and, therefore, any changes to the Underlying Index’s rebalance schedule will result in corresponding changes to the Fund’s rebalance schedule.
Each Fund is entitled to use its respective Underlying Index pursuant to a licensing agreement between its respective index provider and DBX. There is no direct charge to the Funds in connection with these licensing agreements.
Each Fund 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
50
DBX ETF Trust
Notes to Financial Statements (Continued)
qualifies as an investment company under Topic 946 of 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.
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.
51
DBX ETF Trust
Notes to Financial Statements (Continued)
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.
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 year ended August 31, 2023, the Funds did not incur any interest or penalties.
As of August 31, 2023 the components of accumulated earnings (losses) on a tax basis were as follows:
| Undistributed Ordinary Income* |
Capital and Other Gains (Losses) |
Unrealized Appreciation (Depreciation) |
Total Accumulated Earnings (Losses) |
|||||||||||||
|
Xtrackers S&P 500 ESG ETF |
$ | 2,593,173 | $ | (5,501,586 | ) | $ | 31,811,921 | $ | 28,903,508 | |||||||
|
Xtrackers S&P 500 Growth ESG ETF |
14,183 | (25,585 | ) | 1,064,824 | 1,053,422 | |||||||||||
|
Xtrackers S&P 500 Value ESG ETF |
20,860 | (23,434 | ) | 320,108 | 317,534 | |||||||||||
|
Xtrackers S&P ESG Dividend Aristocrats ETF |
24,850 | (60,249 | ) | (28,231 | ) | (63,630 | ) | |||||||||
|
Xtrackers S&P MidCap 400 ESG ETF |
34,272 | (310,016 | ) | 560,154 | 284,410 | |||||||||||
|
Xtrackers S&P SmallCap 600 ESG ETF |
40,178 | (931,058 | ) | 413,339 | (477,541 | ) | ||||||||||
The tax character of dividends and distributions declared for the period ended August 31, 2023 and year ended August 31, 2022 were as follows:
| Period Ended August 31, 2023 | ||||
| Ordinary Income* | ||||
|
Xtrackers S&P 500 ESG ETF |
$ | 11,480,600 | ||
|
Xtrackers S&P 500 Growth ESG ETF |
37,566 | |||
|
Xtrackers S&P 500 Value ESG ETF |
72,462 | |||
|
Xtrackers S&P ESG Dividend Aristocrats ETF |
87,024 | |||
|
Xtrackers S&P MidCap 400 ESG ETF |
160,493 | |||
|
Xtrackers S&P SmallCap 600 ESG ETF |
153,399 | |||
| Year Ended August 31, 2022 | ||||
| Ordinary Income* | ||||
|
Xtrackers S&P 500 ESG ETF |
$ | 10,676,805 | ||
|
Xtrackers S&P MidCap 400 ESG ETF |
125,672 | |||
|
Xtrackers S&P SmallCap 600 ESG ETF |
182,588 | |||
| * |
For tax purposes short-term capital gain distributions are considered ordinary income distributions. |
52
DBX ETF Trust
Notes to Financial Statements (Continued)
At August 31, 2023, 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 S&P 500 ESG ETF |
$ | 4,198,330 | $ | 1,301,855 | $ | 5,500,185 | ||||||
|
Xtrackers S&P 500 Growth ESG ETF |
25,585 | — | 25,585 | |||||||||
|
Xtrackers S&P 500 Value ESG ETF |
23,406 | — | 23,406 | |||||||||
|
Xtrackers S&P ESG Dividend Aristocrats ETF |
60,249 | — | 60,249 | |||||||||
|
Xtrackers S&P MidCap 400 ESG ETF |
101,872 | 208,144 | 310,016 | |||||||||
|
Xtrackers S&P SmallCap 600 ESG ETF |
204,598 | 726,460 | 931,058 | |||||||||
For the period ended August 31, 2023, the effect of permanent “book/tax” reclassifications to the components of net assets are included below. These differences are primarily due to redemptions-in-kind.
| Distributable earnings (loss) |
Paid-In Capital |
|||||||
|
Xtrackers S&P 500 ESG ETF |
$ | (35,888,734 | ) | $ | 35,888,734 | |||
|
Xtrackers S&P 500 Growth ESG ETF |
(521,485 | ) | 521,485 | |||||
|
Xtrackers S&P ESG Dividend Aristocrats ETF |
(87,732 | ) | 87,732 | |||||
As of August 31, 2023, 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 S&P 500 ESG ETF |
$ | 852,058,211 | $ | 31,811,921 | $ | 91,642,695 | $ | (59,830,774 | ) | |||||||
|
Xtrackers S&P 500 Growth ESG ETF |
5,494,772 | $ | 1,064,824 | 1,195,207 | (130,383 | ) | ||||||||||
|
Xtrackers S&P 500 Value ESG ETF |
4,988,786 | $ | 320,108 | 553,331 | (233,223 | ) | ||||||||||
|
Xtrackers S&P ESG Dividend Aristocrats ETF |
5,029,637 | $ | (28,231 | ) | 288,332 | (316,563 | ) | |||||||||
|
Xtrackers S&P MidCap 400 ESG ETF |
11,460,298 | $ | 560,154 | 1,615,342 | (1,055,188 | ) | ||||||||||
|
Xtrackers S&P SmallCap 600 ESG ETF |
11,981,703 | $ | 413,339 | 1,874,526 | (1,461,187 | ) | ||||||||||
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 August 31, 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 Bank of New York Mellon, as securities lending agent, lends securities of the Funds to certain financial institutions under the terms of its security lending agreement. Effective August 1, 2023, National Financial
53
DBX ETF Trust
Notes to Financial Statements (Continued)
Services LLC (Fidelity Agency Lending), serves as securities lending agent for Xtrackers S&P MidCap 400 ESG ETF and Xtrackers S&P SmallCap 600 ESG ETF. 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 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 securities 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 year ended August 31, 2023, the Funds invested the cash collateral, if any, into a joint trading account in affiliated money market funds, including DWS Government & Agency Securities Portfolio, managed by DWS Investment Management Americas, Inc. DWS Investment Management Americas, Inc. receives a management/ administration fee (0.08% annualized effective rate as of August 31, 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 securities lending agent. Either the Funds 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 August 31, 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 August 31, 2023 |
||||||||||||||||||||
| Securities Lending Transactions | Overnight and Continuous |
<30 Days | Between 30 & 90 days |
>90 days | Total | |||||||||||||||
|
Xtrackers S&P MidCap 400 ESG ETF |
|
|||||||||||||||||||
|
Common Stocks |
$ | 77,625 | $ | — | $ | — | $ | — | $ | 77,625 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Gross amount of recognized liabilities for securities lending transactions |
|
$ | 77,625 | |||||||||||||||||
|
Xtrackers S&P SmallCap 600 ESG ETF |
|
|||||||||||||||||||
|
Common Stocks |
$ | 145,100 | $ | — | $ | — | $ | — | $ | 145,100 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Gross amount of recognized liabilities for securities lending transactions |
|
$ | 145,100 | |||||||||||||||||
As of August 31, 2023, Xtrackers S&P 500 ESG ETF, Xtrackers S&P 500 Growth ESG ETF, Xtrackers S&P 500 Value ESG ETF and Xtrackers S&P ESG Dividend Aristocrats ETF had no securities on loan.
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 year ended August 31, 2023, Xtrackers S&P 500 ESG ETF utilized futures in order to simulate investment in the Funds’ 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 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).
54
DBX ETF Trust
Notes to Financial Statements (Continued)
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 August 31, 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 August 31, 2023 and the related location in the accompanying Statement of Assets and Liabilities, presented by primary underlying risk exposure:
|
Asset Derivatives |
Liability Derivatives |
|||||||||||||
| Xtrackers S&P 500 ESG ETF | ||||||||||||||
| Equity contracts | Unrealized appreciation on futures contracts* | $ | 22,523 | Unrealized depreciation on futures contracts* | $ | — | ||||||||
| * |
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 August 31, 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 S&P 500 ESG ETF | $ | 6,841 | ||
Net Change in Unrealized Appreciation (Depreciation) on: |
||||
| Futures Contracts — Equity Contracts |
||||
| Xtrackers S&P 500 ESG ETF | $ | 60,342 | ||
For the period ended August 31, 2023 the average monthly volume of derivatives was as follows:
| Futures Contracts (Contract Value) |
||||
|
Xtrackers S&P 500 ESG ETF |
$ | 1,870,683 | ||
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.
55
DBX ETF Trust
Notes to Financial Statements (Continued)
For its investment advisory services to the Funds below, the Advisor was entitled to receive a unitary advisory fee 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 S&P 500 ESG ETF |
0.11 | % | ||
|
Xtrackers S&P 500 Growth ESG ETF |
0.15 | % | ||
|
Xtrackers S&P 500 Value ESG ETF |
0.15 | % | ||
|
Xtrackers S&P ESG Dividend Aristocrats ETF |
0.15 | % | ||
|
Xtrackers S&P MidCap 400 ESG ETF |
0.15 | % | ||
|
Xtrackers S&P SmallCap 600 ESG ETF |
0.15 | % | ||
The Advisor for the Xtrackers S&P 500 ESG ETF has contractually agreed through December 21, 2023 to waive its fees and/or reimburse fund expenses 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 0.10% of the fund’s average daily net assets. This agreement may only be terminated by the Fund’s Board (and may not be terminated by the Advisor) prior to that time. For the year ended August 31, 2023, the Advisor waived $72,905 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 year ended August 31, 2023, the Advisor waived expenses of the Funds as follows:
| Expenses Waived |
||||
|
Xtrackers S&P 500 ESG ETF |
$ | 1,115 | ||
|
Xtrackers S&P 500 Growth ESG ETF |
1 | |||
|
Xtrackers S&P 500 Value ESG ETF |
1 | |||
|
Xtrackers S&P ESG Dividend Aristocrats ETF |
3 | |||
|
Xtrackers S&P MidCap 400 ESG ETF |
5 | |||
|
Xtrackers S&P SmallCap 600 ESG ETF |
4 | |||
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 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.
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 year ended August 31, 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 S&P 500 ESG ETF |
$ | 67,565,274 | $ | 67,564,792 | ||||
|
Xtrackers S&P 500 Growth ESG ETF |
3,399,858 | 3,407,448 | ||||||
|
Xtrackers S&P 500 Value ESG ETF |
3,413,677 | 3,430,048 | ||||||
|
Xtrackers S&P ESG Dividend Aristocrats ETF |
1,500,505 | 1,523,664 | ||||||
|
Xtrackers S&P MidCap 400 ESG ETF |
4,472,022 | 4,467,723 | ||||||
|
Xtrackers S&P SmallCap 600 ESG ETF |
3,325,327 | 3,306,903 | ||||||
56
DBX ETF Trust
Notes to Financial Statements (Continued)
For the year ended August 31, 2023, the cost of in-kind purchases and proceeds from in-kind sales were as follows:
| Purchases | Sales | |||||||
|
Xtrackers S&P 500 ESG ETF |
$ | 315,413,013 | $ | 287,351,345 | ||||
|
Xtrackers S&P 500 Growth ESG ETF |
7,833,088 | 2,827,866 | ||||||
|
Xtrackers S&P 500 Value ESG ETF |
5,029,282 | — | ||||||
|
Xtrackers S&P ESG Dividend Aristocrats ETF |
6,303,911 | 1,279,430 | ||||||
|
Xtrackers S&P MidCap 400 ESG ETF |
— | — | ||||||
|
Xtrackers S&P SmallCap 600 ESG ETF |
2,316,147 | — | ||||||
5. Fund Share Transactions
As of August 31, 2023, there 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.
6. Concentration of Ownership
From time to time, the Funds may have a concentration of several shareholder accounts holding a significant percentage of shares outstanding. Investment activities of these shareholders could have a material impact on the Fund. At August 31, 2023, there was one affiliated shareholder account for each of the funds listed below holding a significant percentage of the shares outstanding:
| Approximate Percent of Outstanding Shares Held |
||||
|
Xtrackers S&P 500 Growth ESG ETF |
95 | % | ||
|
Xtrackers S&P 500 Value ESG ETF |
95 | % | ||
|
Xtrackers S&P ESG Dividend Aristocrats ETF |
93 | % | ||
|
Xtrackers S&P MidCap 400 ESG ETF |
49 | % | ||
|
Xtrackers S&P SmallCap 600 ESG ETF |
71 | % | ||
57
DBX ETF Trust
To the Shareholders of
Xtrackers S&P 500 ESG ETF, Xtrackers S&P MidCap 400 ESG ETF, Xtrackers S&P SmallCap 600 ESG ETF, Xtrackers S&P ESG Dividend Aristocrats ETF, Xtrackers S&P 500 Growth ESG ETF and Xtrackers S&P 500 Value ESG ETF and the Board of Trustees of DBX ETF Trust
Opinion on the Financial Statements
We have audited the accompanying statements of assets and liabilities of Xtrackers S&P 500 ESG ETF, Xtrackers S&P MidCap 400 ESG ETF, Xtrackers S&P SmallCap 600 ESG ETF, Xtrackers S&P ESG Dividend Aristocrats ETF, Xtrackers S&P 500 Growth ESG ETF, and Xtrackers S&P 500 Value ESG ETF (collectively referred to as the “Funds”), (six of the funds constituting DBX ETF Trust (the “Trust”)), including the schedules of investments, as of August 31, 2023, and the related statements of operations and changes in net assets, and the financial highlights for each of the periods indicated in the table below and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds (six of the funds constituting DBX ETF Trust) at August 31, 2023, and the results of their operations, changes in net assets and financial highlights for each of the periods indicated in the table below, in conformity with U.S. generally accepted accounting principles.
| Individual fund constituting the DBX ETF Trust | Statement of operations | Statements of changes in net assets | Financial highlights | |||
| Xtrackers S&P 500 ESG ETF | For the year ended August 31, 2023 | For each of the two years in the period ended August 31, 2023 | For each of the four years in the period ended August 31, 2023 and the period from June 26, 2019 (commencement of operations) through August 31, 2019 | |||
|
Xtrackers S&P MidCap 400 ESG ETF
Xtrackers S&P SmallCap 600 ESG ETF |
For the year ended August 31, 2023 | For each of the two years in the period ended August 31, 2023 | For each of the two years in the period ended August 31, 2023 and the period from February 24, 2021 (commencement of operations) through August 31, 2021 | |||
|
Xtrackers S&P ESG Dividend Aristocrats ETF
Xtrackers S&P 500 Growth ESG ETF
Xtrackers S&P 500 Value ESG ETF |
For the period from November 9, 2022 (commencement of operations) through August 31, 2023 | |||||
Basis for Opinion
These financial statements are the responsibility of the Trust’s management. Our responsibility is to express an opinion on each of the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Trust in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Trust is not required to have, nor were we engaged to perform, an audit of the Trust’s internal control over financial reporting. As part of our audits, we are required to obtain an
58
DBX ETF Trust
Report of Independent Registered Public Accounting Firm (Continued)
understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Trust’s internal control over financial reporting. Accordingly, we express no such opinion.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of August 31, 2023, by correspondence with the custodian, brokers and others; when replies were not received from brokers and others, we performed other auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.
We have served as the auditor of one or more investment companies in the DWS family of funds since at least 1979, but we are unable to determine the specific year.
New York, New York
October 23, 2023
59
DBX ETF Trust
Regulatory Update — Tailored Shareholder Report
Effective January 24, 2023, the SEC amended the rules for mutual fund and exchange-traded fund (“ETF”) annual and semi-annual shareholder reports. The amended rules apply to mutual funds and ETFs that are registered on Form N-1A (i.e., open-end funds) and implement a new streamlined disclosure framework requiring “concise and visually engaging” shareholder reports highlighting key information, including a simplified expense presentation, performance information, portfolio holdings and certain fund statistics. The amended rules seek to simplify shareholder reporting by consolidating investor friendly data in one report and moving other data to Form N-CSR, creating a layered disclosure framework. Certain information from the Funds’ current shareholder reports, including the Funds’ investment portfolio, financial statements and financial highlights, will move to Form N-CSR. This information must be available online, delivered free of charge upon request and filed on a semiannual basis on Form N-CSR. Notably, the amended rules will require mutual funds and ETFs to prepare separate individual shareholder reports for each fund share class. The amendments also include a revised definition of “appropriate broad-based securities market index” that will affect performance presentations in the new streamlined reports and mutual fund and ETF prospectuses. The amended rules and related form amendments have a compliance date of July 24, 2024. At this time, management is evaluating the impact of the amended rules and form amendments on the content of the Funds’ current shareholder reports.
60
DBX ETF Trust
Identification and Background
The Board has responsibility for the overall management and operations of the funds, including general supervision of the duties performed by the Advisor and other service providers. Each Board Member serves until his or her successor is duly elected or appointed and qualified. Each officer serves until he or she resigns, is removed, dies, retires or becomes disqualified.
The Trust currently has three Board Members. The three Independent Board Members have no affiliation or business connection with the Advisor or any of its affiliated persons and do not own any stock or other securities issued by the Advisor.
The Independent Board Members of the Trust, their term of office and length of time served, their principal business occupations during the past five years, the number of portfolios in the fund complex (defined below) overseen by each Independent Board Member, and other directorships, if any, held by the Board Members are shown below. The fund complex includes all registered open- and closed-end funds (including all of their portfolios) advised by the Advisor and any registered funds that have an investment advisor that is an affiliated person of the Advisor. As of the date of this shareholder report, the fund complex consists of the funds in the Trust, as well as the registered funds advised by affiliates of the Advisor.
Shareholder Communications to the Board. Shareholders may send communications to the Trust’s Board by addressing the communications directly to the Board (or individual Board Members) and/or otherwise clearly indicating in the salutation that the communication is for the Board (or individual Board Members). The shareholder may send the communication to either the Trust’s office or directly to such Board members c/o 875 Third Avenue, New York, NY 10022. Other shareholder communications received by the Trust not directly addressed and sent to the Board will be reviewed and generally responded to by management. Such communications will be forwarded to the Board at management’s discretion based on the matters contained therein.
|
Independent Board Members | ||||||
|
Name, Year of Birth, Position with the Trust and Length of Time Served(1) |
Business Experience and Directorships During the Past 5 Years |
Number of Fund Complex Overseen |
Other Directorships Held by Board Member | |||
|
Stephen R. Byers (1953) Chairperson since 2016, and Board Member since 2011 (formerly, Lead Independent Board Member, 2015-2016) |
Independent Director (2011-present); Independent Consultant (2014-present); Director of Investment Management, the Dreyfus Corporation (2000-2006) and Vice Chairman and Chief Investment Officer, the Dreyfus Corporation (2002-2006). | 42 | The Arbitrage Funds, Sierra Income Corporation, Mutual Fund Directors Forum | |||
|
George O. Elston (1964) Board Member since 2011, Chairperson of the Audit Committee since 2015 |
Chief Financial Officer, EyePoint Pharmaceuticals, Inc. (2019-present); Chief Financial Officer, Enzyvant (2018-2019); Chief Executive Officer, 2X Oncology, Inc. (2017- 2018); Senior Vice President and Chief Financial Officer, Juniper Pharmaceuticals, Inc. (2014-2016); Senior Vice President and Chief Financial Officer, KBI BioPharma Inc. (2013-2014); Managing Partner, Chatham Street Partners (2010-2013). | 42 | — | |||
|
J. David Officer (1948) Board Member since 2011, Chairperson of the Nominating Committee since 2015 |
Independent Director (2010-present); Vice Chairman, the Dreyfus Corporation (2006-2009); President, The Dreyfus Family of Funds, Inc. (2006-2009). | 42 | (Chairman of) Ilex Management Ltd; Old Westbury Funds | |||
61
DBX ETF Trust
Board Members and Officers (Unaudited) (Continued)
|
Officers(2) | ||
| Name, Year of Birth, Position with the Trust and Length of Time Served(3) |
Business Experience and Directorships During the Past 5 Years | |
|
Freddi Klassen(4) (1975) President and Chief Executive Officer, 2016-present |
Chief Administrative Officer Investment Division Americas, of DWS Investment Management Americas, Inc. and Manager (since 2023) and Chief Operating Officer of the Advisor (2016-present). Formerly: Programmes (Head 2021-2023), of DWS Investment Management Americas, Inc.; Chief Operating Officer in the Americas for the Traditional Asset Classes Department (2014- 2020); Global Chief Operating Officer for Equities Technology in the Investment Bank Division at Deutsche Bank AG (2013-2014); Chief Operating Officer for Exchange Traded Funds and Systematic Funds in Europe (2008-2013). | |
|
Diane Kenneally(4) (1966) Treasurer, Chief Financial Officer and Controller, 2019-present |
Fund Administration Treasurer’s Office (Co-Head since 2018), of DWS Investment Management Americas, Inc.; Chief Financial Officer and Treasurer for DWS US registered investment companies advised by DWS Investment Management Americas, Inc. (2018- present); Treasurer and Chief Financial Officer, The European Equity Fund, Inc., The New Germany Fund, Inc. and The Central and Eastern Europe Fund, Inc. (2018-present); formerly: Assistant Treasurer for the DWS funds (2007-2018). | |
|
Frank Gecsedi(4) (1967) Chief Compliance Officer, 2010-present |
AFC Compliance US (Senior Team Lead), of DWS Investment Management Americas, Inc.; Compliance Department (2016- present), Vice President in the Deutsche Asset Management Compliance Department at Deutsche Bank AG (2013-2016) and Chief Compliance Officer of the Advisor (2010-present); Chief Compliance Officer of DWS Distributors, Inc. (2019-2022); Vice President in Deutsche Bank’s Global Markets Legal, Risk and Capital Division (2010-2012). | |
| Bryan Richards(4) (1978) Vice President, 2016-present |
Portfolio Engineering, Systematic Investments Solutions (Head), of DWS Investment Management Americas, Inc. (2018-present); Portfolio Manager in the Passive Asset Management Department at DWS (2011-present); Primary Portfolio Manager for the PowerShares DB Commodity ETFs (2011-2015). | |
| John Millette(5) (1962) Secretary, 2020-present |
Legal (Associate General Counsel), DWS US Retail Legal (2003- present), of DWS Investment Management Americas, Inc.; Vice President and Secretary of DWS US registered investment companies advised by DWS Investment Management Americas, Inc. (1999-present); Chief Legal Officer, DWS Investment Management Americas, Inc. (2015-present); Director and Vice President of DWS Trust Company (2016-present); Vice President, DBX Advisors LLC (2021-present); Secretary, The European Equity Fund, Inc., The New Germany Fund, Inc. and The Central and Eastern Europe Fund, Inc. (2011- present); formerly: Secretary of Deutsche Investment Management Americas Inc. (2015-2017); and Assistant Secretary of DBX ETF Trust (2019-2020). | |
62
DBX ETF Trust
Board Members and Officers (Unaudited) (Continued)
| Name, Year of Birth, Position with the Trust and Length of Time Served(3) |
Business Experience and Directorships During the Past 5 Years | |
| Caroline
Pearson(5)
(1962) Assistant Secretary, 2020-present |
Legal (Senior Team Lead), DWS US Retail Legal, of DWS Investment Management Americas, Inc.; Chief Legal Officer of DWS US registered investment companies advised by DWS Investment Management Americas, Inc. (2010-present); Chief Legal Officer, DBX Advisors LLC and DBX Strategic Advisors LLC (2020- present); Chief Legal Officer, The European Equity Fund, Inc., The New Germany Fund, Inc. and The Central and Eastern Europe Fund, Inc. (2012-present); formerly: Secretary, Deutsche AM Distributors, Inc. (2002-2017); Secretary, Deutsche AM Service Company (2010-2017); and Chief Legal Officer, DBXStrategic Advisors LLC (2020-2021). | |
| Jeffrey Berry(5) (1959) Assistant Treasurer, 2019-present |
Fund Administration (Senior Specialist), of DWS Investment Management Americas, Inc. | |
| Sheila Cadogan(5) (1966) Assistant Treasurer, 2019-present |
Fund Administration Treasurer’s Office (Co-Head since 2018), of DWS Investment Management Americas, Inc.; Assistant Treasurer for DWS US registered investment companies advised by DWS Investment Management Americas, Inc. (2017-present); Director and Vice President, DWS Trust Company (2018- present); Assistant Treasurer, The European Equity Fund, Inc., The New Germany Fund, Inc. and The Central and Eastern Europe Fund, Inc. (2018-present). | |
| Christina A.
Morse(6)
(1964) Assistant Secretary, 2017-present |
Senior Vice President, Director Regulatory Administration at BNY Mellon Asset Servicing (2023-present); Vice President at BNY Mellon Asset Servicing (2014-2023); Vice President and Counsel at Lord Abbett & Co. LLC (2013-2014). | |
| Christian Rijs(4) (1980) Anti-Money Laundering Compliance Officer, since October 21, 2021 |
Senior Team Lead Anti-Financial Crime and Compliance, DWS Investment Management Americas, Inc.; AML Officer, DWS Trust Company (since November 2, 2021); AML Officer, DWS US registered investment companies advised by DWS Investment Management Americas, Inc. (since October 6, 2021); AML Officer, The European Equity Fund, Inc., The New Germany Fund, Inc. and The Central and Eastern Europe Fund, Inc. (since November 12, 2021); formerly: DWS UK & Ireland Head of Anti-Financial Crime and MLRO. |
| (1) |
The length of time served is represented by the year in which the Board Member joined the Board. |
| (2) |
As a result of their respective positions held with the Advisor and its affiliates, these individuals are considered “interested persons” of the Advisor within the meaning of the 1940 Act. Interested persons receive no compensation from the Funds. |
| (3) |
The length of time served is represented by the year in which the officer was first elected to the Trust in such capacity. |
| (4) |
Address: 875 Third Avenue, New York, New York 10022. |
| (5) |
Address: 100 Summer Street, Boston, MA 02110. |
| (6) |
Address: BNY Mellon Asset Servicing, 240 Greenwich Street, New York, NY 10286. |
The Funds’ Statement of Additional Information (“SAI”) includes additional information about the Funds’ Board Members. The SAI is available by calling 855-329-3837, or on the Company’s website at www.Xtrackers.com.
63
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 or Cboe 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.
Tax Information
Form 1099-DIV and other year-end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisors.
Each Fund designates the following amounts or, if subsequently determined to be different, the maximum allowable for its period ended August 31, 2023.
| Qualified Dividend Income* |
Dividends Received Deduction* |
|||||||
|
Xtrackers S&P 500 ESG ETF |
100% | 98% | ||||||
|
Xtrackers S&P 500 Growth ESG ETF |
100% | 100% | ||||||
|
Xtrackers S&P 500 Value ESG ETF |
100% | 90% | ||||||
|
Xtrackers S&P ESG Dividend Aristocrats ETF |
100% | 95% | ||||||
|
Xtrackers S&P MidCap 400 ESG ETF |
93% | 90% | ||||||
|
Xtrackers S&P SmallCap 600 ESG ETF |
92% | 89% | ||||||
* The above percentage is based on ordinary income dividends paid to shareholders during each Fund’s fiscal year.
64
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. Incorporation of ESG criteria in a Fund’s investment strategy does not guarantee a return or protect against loss, limits the types and number of investment opportunities available to the Fund and, as a result, the Fund may underperform other funds that do not have an ESG focus. Stocks may decline in value. Stocks of medium-sized companies involve greater risk than securities of larger, more established companies. Small company stocks tend to be more volatile than medium-sized or large company stocks. Each Fund is currently non-diversified and can take larger positions in fewer issues, increasing its potential risk. Funds investing in a single industry, country or in a limited geographic region generally are more volatile than more diversified funds. Performance of a Fund may diverge from that of 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 the Fund. Please read the prospectus for more information.
Environmental, social and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments: Environmental (how a company performs as a steward of nature); Social (how a company manages relationships with employee, suppliers, customers and communities); Governance (company’s leadership, executive pay, shareholder rights, etc).
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. or CBOE BZX Exchange, 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.
The S&P 400 ESG Index, S&P 500 ESG Index and S&P 600 ESG Index are products of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”), and have been licensed for use by DBX Advisors LLC. S&P®, S&P 400®, S&P 500® and S&P 600®, are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by DBX Advisors. The ESG Scores used in the Indexes are calculated by SAM. DBX Advisors LLC Xtrackers ETFs are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates or SAM, and none of such parties make any representation regarding the advisability of investing in such ETFs, nor do they have any liability for any errors, omissions, or interruptions of the S&P 400 ESG Index, S&P 500 ESG Index and S&P 600 ESG Index.
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 & 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 10019 |
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R-097578-1 (10/23) DBX005648 (10/24)