February 28, 2022
Semi-Annual Report
DBX ETF Trust
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (EMCR)
Xtrackers MSCI EAFE ESG Leaders Equity ETF (EASG)
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (EMSG)
Xtrackers MSCI USA ESG Leaders Equity ETF (USSG)
Xtrackers S&P 500 ESG ETF (SNPE)
Xtrackers S&P MidCap 400 ESG ETF (MIDE)
Xtrackers S&P SmallCap 600 ESG ETF (SMLE)
DBX ETF Trust
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Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF |
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Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF |
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Board Consideration in Approval of Investment Advisory Contracts |
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To our Shareholders: (Unaudited)
Dear Shareholder,
We are pleased to provide this semiannual report for seven of our equity ETFs tracking the environmental, social, and governance (ESG) market for the period ended February 28, 2022.
The recovery in global economy during the second half of 2021 was stalled by the emergence of the highly infectious Omicron variant of the coronavirus, which led to a spike in equity market volatility. To tackle the spread of the virus, countries had to restrict movements through different lockdown measures and expedite their vaccination programs. The services sector was heavily impacted, slowing the positive momentum it had gained in the past months, while global manufacturing sentiment remained upbeat. However, global equity markets started 2022 on a rough note as central banks shifted to a more hawkish stance in the face of rising inflation, with the U.S. Federal Reserve emphasizing multiple rate hikes this year and mentioning the possibility of shrinking its balance sheet as a next step. The European Central Bank maintained its accommodative stance initially, but pivoted to a more hawkish tone lately, stating rate hikes this year could not be ruled out. Meanwhile, the Bank of England became the only developed-economy central bank to make rate hikes. The geopolitical turmoil due to Russia’s invasion of Ukraine and retaliatory sanctions by the western countries further dented investor risk appetite.
ESG-focused funds continued to gain, while carbon- and water-focused themes were seen as a huge draw for investors. Global sustainable fund assets expanded in 4Q 2021, as investors poured in USD142bn. Europe accounted for the lion’s share of this increased inflow, while the U.S. still lagged behind its developed contemporaries. In the U.S., the Biden administration continued its ESG initiatives from 2021 policy actions, which started showing visible results. The Department of Labor proposed rules to permit fiduciaries of retirement plans to make allowances on ESG matters in their investment decision-making. The U.S. Securities and Exchange Commission’s (SEC’s) semiannual regulatory agenda published in December 2021 included disclosure requirements on climate change, human capital management, and corporate board diversity. The SEC also considered policies on cybersecurity governance, strategy, and risk management.
The UK introduced a series of ESG-related rules and regulations. All companies are currently required to include climate-related disclosures on a “comply or explain” basis. In the EU, the sustainable finance disclosure regulation hastened the mainstreaming of ESG more than any other catalysts in the past year, designating funds that promote ESG characteristics along with a sustainable investment objective. The EU started its implementation of the EU Taxonomy Regulation, which covers environmentally sustainable economic activities. Once it is fully implemented, it will cover 80% of all greenhouse gas emissions in the EU. European authorities drafted a new Corporate Sustainability Reporting Directive (CSRD), which emphasizes “double materiality,” requiring companies to detail both their environmental impact and climate-related risks. Meanwhile, China furthered its commitment to carbon emissions reduction, pledged in October before the UN Climate Change Conference (COP26), announcing it would reach peak carbon emissions before 2030 and achieve neutrality before 2060.
We believe 2022 will be viewed as a year of transition as the global economy, along with the investment environment, evolves in search of a new normal. Geopolitical pressures, coupled with disparities in central bank policies across different regions, are expected to impact investment decisions. On one hand, the economic effects of the war between Russia and Ukraine and other supporting nations need to be monitored. On the other, we believe high inflation signals a readjustment to demand supply-mismatches and labor markets. However, ESG-focused funds should continue to attract investors’ interest, and from a strategic perspective, we believe, actively managing asset allocation around this near-term geopolitical headwind will be vital.
1
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.
2
DBX ETF Trust
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (EMCR)
The Xtrackers Emerging Markets Carbon Reduction and Climate Improvers 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 Solactive ISS Emerging Markets Carbon Reduction & Climate Improvers Index NTR (the “Underlying Index”). The Underlying Index is comprised of large and mid-capitalization companies in emerging markets countries that meet certain environmental, social and governance (“ESG”) criteria and/or have committed to greenhouse gas emissions reduction targets. The Underlying Index is then weighted in such a manner seeking to align its constituent companies’ greenhouse gas emissions with the long-term global warming target of the Paris Climate Agreement. It is not possible to invest directly into an index.
Ten Largest
Equity Holdings as of February 28, 2022 (28.6% of Net Assets) |
Description | % of Net Assets | |||
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) |
9.5% | |||
Tencent Holdings Ltd. (China) |
6.6% | |||
Samsung Electronics Co. Ltd. (South Korea) |
4.0% | |||
Alibaba Group Holding Ltd. (China) |
2.4% | |||
Infosys Ltd. (India) |
1.5% | |||
China Construction Bank Corp. (China) |
1.4% | |||
Meituan (China) |
1.1% | |||
Ping An Insurance Group Co. of China Ltd. (China) |
1.1% | |||
JD.com, Inc. (China) |
1.0% | |||
Housing Development Finance Corp. Ltd. (India) |
1.0% |
Country Diversification* as of February 28, 2022 |
China |
31.5% | |||
Taiwan |
19.9% | |||
India |
12.8% | |||
South Korea |
11.0% | |||
Brazil |
4.0% | |||
South Africa |
3.3% | |||
Saudi Arabia |
2.8% | |||
Mexico |
2.3% | |||
Indonesia |
2.0% | |||
Thailand |
2.0% | |||
Other |
8.4% | |||
|
|
|||
Total |
100.0% |
Sector Diversification* as of February 28, 2022 |
Financials |
27.4% | |||
Information Technology |
24.7% | |||
Communication Services |
12.6% | |||
Consumer Discretionary |
12.1% | |||
Materials |
6.5% | |||
Industrials |
4.9% | |||
Consumer Staples |
4.7% | |||
Health Care |
3.8% | |||
Real Estate |
1.9% | |||
Utilities |
1.3% | |||
Energy |
0.1% | |||
|
|
|||
Total |
100.0% |
* As a percent of total investments excluding securities lending collateral and cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 11.
3
DBX ETF Trust
Portfolio Summary (Unaudited)
Xtrackers MSCI EAFE ESG Leaders Equity ETF (EASG)
The Xtrackers MSCI EAFE ESG Leaders Equity ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the MSCI EAFE ESG Leaders Index (the “Underlying Index”). The Underlying Index is a capitalization weighted index that provides exposure to companies with high environmental, social and governance (“ESG”) performance relative to their sector peers and consists of large- and medium-capitalization companies across developed markets countries, excluding Canada and the United States. It is not possible to invest directly into an index.
Ten Largest
Equity Holdings as of February 28, 2022 (20.0% of Net Assets) |
Description | % of Net Assets | |||
ASML Holding NV (Netherlands) |
3.4% | |||
Roche Holding AG (Switzerland) |
3.3% | |||
AstraZeneca PLC (United Kingdom) |
2.3% | |||
Novo Nordisk A/S (Denmark) |
2.1% | |||
Sony Group Corp. (Japan) |
1.6% | |||
Unilever PLC (United Kingdom) |
1.6% | |||
TotalEnergies SE (France) |
1.6% | |||
SAP SE (Germany) |
1.4% | |||
Commonwealth Bank of Australia (Australia) |
1.4% | |||
GlaxoSmithKline PLC (United Kingdom) |
1.3% |
Country Diversification* as of February 28, 2022 |
Japan |
24.2% | |||
United Kingdom |
14.2% | |||
France |
10.7% | |||
Switzerland |
9.9% | |||
Germany |
7.8% | |||
Australia |
6.7% | |||
Netherlands |
6.6% | |||
Denmark |
4.0% | |||
Sweden |
3.2% | |||
Spain |
2.2% | |||
Other |
10.5% | |||
|
|
|||
Total |
100.0% |
Sector Diversification* as of February 28, 2022 |
Financials |
17.4% | |||
Industrials |
14.7% | |||
Health Care |
14.6% | |||
Consumer Discretionary |
11.4% | |||
Consumer Staples |
9.4% | |||
Materials |
9.0% | |||
Information Technology |
8.7% | |||
Communication Services |
5.3% | |||
Utilities |
3.3% | |||
Energy |
3.2% | |||
Real Estate |
3.0% | |||
|
|
|||
Total |
100.0% |
* As a percent of total investments excluding exchange-traded funds and securities lending collateral.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 26.
4
DBX ETF Trust
Portfolio Summary (Unaudited)
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (EMSG)
The Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the MSCI Emerging Markets ESG Leaders Index (the “Underlying Index”). The Underlying Index is a capitalization weighted index that provides exposure to companies with high environmental, social and governance (“ESG”) performance relative to their sector peers and consists of large- and medium-capitalization companies across emerging markets countries. It is not possible to invest directly into an index.
Ten Largest
Equity Holdings as of February 28, 2022 (38.1% of Net Assets) |
Description | % of Net Assets | |||
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) |
13.2% | |||
Tencent Holdings Ltd. (China) |
7.7% | |||
Alibaba Group Holding Ltd. (China) |
5.0% | |||
Meituan (China) |
2.3% | |||
Reliance Industries Ltd. (India) |
2.2% | |||
Infosys Ltd. (India) |
1.9% | |||
China Construction Bank Corp. (China) |
1.8% | |||
MediaTek, Inc. (Taiwan) |
1.5% | |||
Housing Development Finance Corp. Ltd. (India) |
1.3% | |||
Ping An Insurance Group Co. of China Ltd. (China) |
1.2% |
Country Diversification* as of February 28, 2022 |
China |
30.0% | |||
Taiwan |
23.7% | |||
India |
12.5% | |||
South Korea |
6.5% | |||
South Africa |
5.5% | |||
Brazil |
3.7% | |||
Thailand |
2.5% | |||
Malaysia |
2.1% | |||
United Arab Emirates |
2.1% | |||
Hong Kong |
2.0% | |||
Other |
9.4% | |||
|
|
|||
Total |
100.0% |
Sector Diversification* as of February 28, 2022 |
Information Technology |
22.2% | |||
Financials |
20.1% | |||
Consumer Discretionary |
15.6% | |||
Communication Services |
12.9% | |||
Materials |
7.2% | |||
Consumer Staples |
5.5% | |||
Industrials |
4.7% | |||
Energy |
4.2% | |||
Health Care |
3.6% | |||
Real Estate |
2.3% | |||
Utilities |
1.7% | |||
|
|
|||
Total |
100.0% |
* As a percent of total investments excluding exchange-traded funds and securities lending collateral.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 32.
5
DBX ETF Trust
Portfolio Summary (Unaudited)
Xtrackers MSCI USA ESG Leaders Equity ETF (USSG)
Xtrackers MSCI USA ESG Leaders Equity ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the MSCI USA ESG Leaders Index (the “Underlying Index”). The Underlying Index is a capitalization weighted index that provides exposure to companies with high environmental, social and governance (“ESG”) performance relative to their sector peers and consists of large- and medium-capitalization companies in the U.S. market. The S&P 500 Index or the Standard & Poor’s 500 Index is a market-capitalization-weighted index of the 500 largest U.S. publicly traded companies. It is not possible to invest directly into an index.
Ten Largest
Equity Holdings as of February 28, 2022 (36.6% of Net Assets) |
Description | % of Net Assets | |||
Microsoft Corp. |
10.9% | |||
Alphabet, Inc. |
8.1% | |||
Tesla, Inc. |
3.8% | |||
NVIDIA Corp. |
3.1% | |||
Johnson & Johnson |
2.2% | |||
Procter & Gamble Co. |
1.9% | |||
Visa, Inc. |
1.9% | |||
Home Depot, Inc. |
1.7% | |||
Mastercard, Inc. |
1.6% | |||
Walt Disney Co. |
1.4% |
Sector Diversification* as of February 28, 2022 |
Information Technology |
28.7% | |||
Health Care |
13.3% | |||
Consumer Discretionary |
12.5% | |||
Financials |
11.6% | |||
Communication Services |
11.6% | |||
Industrials |
7.8% | |||
Consumer Staples |
6.5% | |||
Materials |
2.8% | |||
Real Estate |
2.7% | |||
Energy |
1.5% | |||
Utilities |
1.0% | |||
|
|
|||
Total |
100.0% |
* As a percent of total investments excluding securities lending collateral and cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 40.
6
DBX ETF Trust
Portfolio Summary (Unaudited)
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 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 Index. It is not possible to invest directly into an index.
Ten Largest
Equity Holdings as of February 28, 2022 (37.4% of Net Assets) |
Description | % of Net Assets | |||
Apple, Inc. |
9.0% | |||
Microsoft Corp. |
7.9% | |||
Alphabet, Inc. |
5.5% | |||
Amazon.com, Inc. |
4.7% | |||
Tesla, Inc. |
2.5% | |||
NVIDIA Corp. |
2.1% | |||
UnitedHealth Group, Inc. |
1.6% | |||
JPMorgan Chase & Co. |
1.5% | |||
Procter & Gamble Co. |
1.3% | |||
Visa, Inc. |
1.3% |
Sector Diversification* as of February 28, 2022 |
Information Technology |
31.1% | |||
Consumer Discretionary |
13.5% | |||
Health Care |
12.9% | |||
Financials |
10.3% | |||
Communication Services |
9.5% | |||
Industrials |
6.4% | |||
Consumer Staples |
5.7% | |||
Energy |
4.0% | |||
Real Estate |
2.6% | |||
Materials |
2.5% | |||
Utilities |
1.5% | |||
|
|
|||
Total |
100.0% |
* 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 45.
7
DBX ETF Trust
Portfolio 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 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 MidCap 400 Index. It is not possible to invest directly into an index.
Ten Largest
Equity Holdings as of February 28, 2022 (8.9% of Net Assets) |
Description | % of Net Assets | |||
Molina Healthcare, Inc. |
1.2% | |||
Camden Property Trust |
1.1% | |||
Steel Dynamics, Inc. |
0.9% | |||
Fair Isaac Corp. |
0.9% | |||
First Horizon Corp. |
0.8% | |||
Jones Lang LaSalle, Inc. |
0.8% | |||
East West Bancorp, Inc. |
0.8% | |||
Carlisle Cos., Inc. |
0.8% | |||
Graco, Inc. |
0.8% | |||
Medical Properties Trust, Inc. |
0.8% |
Sector Diversification* as of February 28, 2022 |
Industrials |
19.5% | |||
Financials |
15.6% | |||
Consumer Discretionary |
15.4% | |||
Information Technology |
13.2% | |||
Real Estate |
11.9% | |||
Health Care |
8.6% | |||
Materials |
7.6% | |||
Consumer Staples |
3.5% | |||
Communication Services |
2.0% | |||
Utilities |
1.5% | |||
Energy |
1.2% | |||
|
|
|||
Total |
100.0% |
* 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 50.
8
DBX ETF Trust
Portfolio 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 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 SmallCap 600 Index. It is not possible to invest directly into an index.
Ten Largest
Equity Holdings as of February 28, 2022 (7.4% of Net Assets) |
Description | % of Net Assets | |||
Range Resources Corp. |
0.8% | |||
Omnicell, Inc. |
0.8% | |||
Vonage Holdings Corp. |
0.8% | |||
Chart Industries, Inc. |
0.8% | |||
Rogers Corp. |
0.7% | |||
Southwestern Energy Co. |
0.7% | |||
AMN Healthcare Services, Inc. |
0.7% | |||
Exponent, Inc. |
0.7% | |||
Matson, Inc. |
0.7% | |||
SPS Commerce, Inc. |
0.7% |
Sector Diversification* as of February 28, 2022 |
Financials |
18.5% | |||
Industrials |
17.9% | |||
Information Technology |
14.2% | |||
Consumer Discretionary |
12.6% | |||
Health Care |
11.8% | |||
Real Estate |
8.2% | |||
Materials |
5.9% | |||
Consumer Staples |
4.4% | |||
Energy |
4.4% | |||
Communication Services |
1.1% | |||
Utilities |
1.0% | |||
|
|
|||
Total |
100.0% |
* As a percent of total investments excluding exchange-traded funds, securities lending collateral and cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 54.
9
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 (Septemebr 1, 2021 to February 28, 2022).
Actual expenses
The first line in the following tables provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading “Expenses Paid During the Period” to estimate the expenses you paid on your account during this period.
Hypothetical example for comparison purposes
The second line in the following tables provides information about hypothetical account values and hypothetical expenses based on the Funds’ actual expense ratios and an assumed rate of return of 5% per year before expenses (which is not the Funds’ actual return). The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Please note that the expenses shown in the tables are meant to highlight your ongoing costs only, and do not reflect any transactional costs. Therefore the second line in the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
Beginning Account Value September 1, 2021 |
Ending Account Value February 28, 2022 |
Annualized Expense Ratio |
Expenses Paid During the Period Per $1,000(1) |
|||||||||||||
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF |
| |||||||||||||||
Actual |
$ | 1,000.00 | $ | 911.50 | 0.15 | % | $ | 0.71 | ||||||||
Hypothetical (5% return before expenses) |
$ | 1,000.00 | $ | 1,024.05 | 0.15 | % | $ | 0.76 | ||||||||
Xtrackers MSCI EAFE ESG Leaders Equity ETF |
| |||||||||||||||
Actual |
$ | 1,000.00 | $ | 919.30 | 0.14 | % | $ | 0.64 | ||||||||
Hypothetical (5% return before expenses) |
$ | 1,000.00 | $ | 1,024.12 | 0.14 | % | $ | 0.68 | ||||||||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF |
| |||||||||||||||
Actual |
$ | 1,000.00 | $ | 879.30 | 0.20 | % | $ | 0.93 | ||||||||
Hypothetical (5% return before expenses) |
$ | 1,000.00 | $ | 1,023.81 | 0.20 | % | $ | 1.00 | ||||||||
Xtrackers MSCI USA ESG Leaders Equity ETF |
| |||||||||||||||
Actual |
$ | 1,000.00 | $ | 966.20 | 0.09 | % | $ | 0.44 | ||||||||
Hypothetical (5% return before expenses) |
$ | 1,000.00 | $ | 1,024.35 | 0.09 | % | $ | 0.45 | ||||||||
Xtrackers S&P 500 ESG ETF |
| |||||||||||||||
Actual |
$ | 1,000.00 | $ | 996.00 | 0.10 | % | $ | 0.49 | ||||||||
Hypothetical (5% return before expenses) |
$ | 1,000.00 | $ | 1,024.30 | 0.10 | % | $ | 0.50 | ||||||||
Xtrackers S&P MidCap 400 ESG ETF |
| |||||||||||||||
Actual |
$ | 1,000.00 | $ | 978.30 | 0.15 | % | $ | 0.74 | ||||||||
Hypothetical (5% return before expenses) |
$ | 1,000.00 | $ | 1,024.05 | 0.15 | % | $ | 0.76 | ||||||||
Xtrackers S&P SmallCap 600 ESG ETF |
| |||||||||||||||
Actual |
$ | 1,000.00 | $ | 982.80 | 0.15 | % | $ | 0.74 | ||||||||
Hypothetical (5% return before expenses) |
$ | 1,000.00 | $ | 1,024.05 | 0.15 | % | $ | 0.76 |
(1) Expenses are equal to each Fund’s annualized expense ratio, multiplied by the average account value over the period, multiplied by 181 (the number of days in the most recent six-month period), then divided by 365.
10
DBX ETF Trust
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
COMMON STOCKS — 97.8% | ||||||||
Argentina — 0.0% | ||||||||
Adecoagro SA* |
9,879 | $ | 94,443 | |||||
Despegar.com Corp.* |
7,920 | 91,159 | ||||||
Grupo Financiero Galicia SA, ADR |
10,673 | 101,073 | ||||||
Telecom Argentina SA, ADR* (a) |
19,570 | 98,242 | ||||||
|
|
|||||||
(Cost $375,106) |
384,917 | |||||||
|
|
|||||||
Brazil — 2.8% | ||||||||
Ambev SA |
410,483 | 1,211,123 | ||||||
Americanas SA |
62,529 | 370,195 | ||||||
Atacadao SA |
23,300 | 86,159 | ||||||
B3 SA — Brasil Bolsa Balcao |
924,980 | 2,617,817 | ||||||
Banco Bradesco SA |
183,960 | 609,189 | ||||||
Banco BTG Pactual SA |
216,589 | 1,080,065 | ||||||
Banco do Brasil SA |
133,837 | 914,727 | ||||||
Banco Inter SA |
55,557 | 217,733 | ||||||
Banco Santander Brasil SA |
54,255 | 325,844 | ||||||
BB Seguridade Participacoes SA |
108,208 | 483,940 | ||||||
BRF SA* |
53,637 | 173,976 | ||||||
CCR SA |
99,189 | 226,423 | ||||||
Centrais Eletricas Brasileiras SA |
62,689 | 423,102 | ||||||
Cia de Saneamento Basico do Estado de Sao Paulo |
33,083 | 265,925 | ||||||
Cia Siderurgica Nacional SA |
57,636 | 280,813 | ||||||
CPFL Energia SA |
14,484 | 85,076 | ||||||
Energisa SA |
28,890 | 247,250 | ||||||
Equatorial Energia SA |
50,840 | 252,340 | ||||||
Hapvida Participacoes e Investimentos SA, 144A |
493,784 | 1,162,645 | ||||||
Hypera SA |
46,127 | 299,950 | ||||||
Itau Unibanco Holding SA |
43,671 | 185,053 | ||||||
Klabin SA |
78,572 | 353,839 | ||||||
Localiza Rent a Car SA |
55,557 | 620,308 | ||||||
Lojas Renner SA |
143,637 | 705,959 | ||||||
Magazine Luiza SA |
257,540 | 300,448 | ||||||
Multiplan Empreendimentos Imobiliarios SA |
34,477 | 147,834 | ||||||
Natura & Co. Holding SA* |
138,903 | 624,183 | ||||||
Neoenergia SA |
25,559 | 79,827 | ||||||
Pagseguro Digital Ltd., Class A* (a) |
25,162 | 401,082 | ||||||
Porto Seguro SA |
24,210 | 98,594 | ||||||
Raia Drogasil SA |
182,234 | 826,327 | ||||||
Rede D’Or Sao Luiz SA, 144A |
70,710 | 700,004 | ||||||
Rumo SA* |
174,506 | 525,039 | ||||||
Sendas Distribuidora SA |
103,549 | 270,546 | ||||||
StoneCo Ltd., Class A* |
19,572 | 219,989 | ||||||
Suzano SA |
72,798 | 778,187 | ||||||
Telefonica Brasil SA |
40,069 | 390,213 | ||||||
TIM SA |
107,198 | 283,201 | ||||||
TOTVS SA |
44,932 | 288,255 | ||||||
Via S/A* |
192,954 | 141,952 | ||||||
WEG SA |
135,698 | 774,409 | ||||||
XP, Inc.* |
1,919 | 61,540 | ||||||
XP, Inc., Class A* (a) |
7,287 | 235,662 | ||||||
|
|
|||||||
(Cost $22,494,537) |
20,346,743 | |||||||
|
|
Number |
Value |
|||||||
Chile — 0.3% | ||||||||
Banco de Chile |
4,282,617 | $ | 456,820 | |||||
Banco de Credito e Inversiones SA |
10,250 | 368,461 | ||||||
Banco Santander Chile |
10,350,842 | 510,510 | ||||||
Cencosud SA |
128,246 | 237,194 | ||||||
Cencosud Shopping SA |
40,660 | 43,893 | ||||||
Cia Sud Americana de Vapores SA |
1,820,483 | 178,200 | ||||||
Empresas CMPC SA |
100,739 | 167,357 | ||||||
Falabella SA |
81,648 | 270,174 | ||||||
|
|
|||||||
(Cost $2,251,299) |
2,232,609 | |||||||
|
|
|||||||
China — 31.5% | ||||||||
360 Security Technology, Inc., Class A* |
38,200 | 63,324 | ||||||
51job, Inc., ADR* |
5,591 | 289,614 | ||||||
AAC Technologies Holdings, Inc. (a) |
69,533 | 190,436 | ||||||
Agile Group Holdings Ltd. |
91,432 | 41,657 | ||||||
Agricultural Bank of China Ltd., Class A |
776,600 | 366,762 | ||||||
Agricultural Bank of China Ltd., Class H |
4,316,518 | 1,635,191 | ||||||
Aier Eye Hospital Group Co. Ltd., Class A |
30,400 | 174,692 | ||||||
Air China Ltd., Class A* |
59,100 | 92,537 | ||||||
Air China Ltd., Class H* |
157,466 | 120,915 | ||||||
Airtac International Group |
7,457 | 244,710 | ||||||
Alibaba Group Holding Ltd., ADR* |
167,041 | 17,571,043 | ||||||
A-Living Smart City Services Co. Ltd., 144A |
80,254 | 143,998 | ||||||
Aluminum Corp. of China Ltd., Class A* |
66,600 | 68,394 | ||||||
Aluminum Corp. of China Ltd., Class H* |
405,824 | 280,982 | ||||||
Angang Steel Co. Ltd., Class A |
34,600 | 21,056 | ||||||
Angang Steel Co. Ltd., Class H |
226,789 | 112,615 | ||||||
Angel Yeast Co. Ltd., Class A |
11,300 | 89,361 | ||||||
Anhui Conch Cement Co. Ltd., Class A |
35,000 | 223,534 | ||||||
Anhui Conch Cement Co. Ltd., Class H |
102,149 | 547,761 | ||||||
ANTA Sports Products Ltd. |
108,374 | 1,649,112 | ||||||
Apeloa Pharmaceutical Co. Ltd., Class A |
6,900 | 31,012 | ||||||
Asymchem Laboratories Tianjin Co. Ltd., Class A |
2,000 | 107,895 | ||||||
Autohome, Inc., ADR* |
5,590 | 170,998 | ||||||
Avary Holding Shenzhen Co. Ltd., Class A |
5,400 | 29,619 | ||||||
Baidu, Inc., ADR* |
24,790 | 3,778,988 | ||||||
Bank of Beijing Co. Ltd., Class A |
106,000 | 75,762 | ||||||
Bank of China Ltd., Class A |
305,200 | 149,940 | ||||||
Bank of China Ltd., Class H |
7,428,510 | 2,890,138 | ||||||
Bank of Communications Co. Ltd., Class A |
371,500 | 281,422 | ||||||
Bank of Communications Co. Ltd., Class H |
1,072,659 | 735,817 | ||||||
Bank of Hangzhou Co. Ltd., Class A |
68,900 | 156,363 | ||||||
Bank of Jiangsu Co. Ltd., Class A |
77,900 | 82,097 | ||||||
Bank of Nanjing Co. Ltd., Class A |
85,700 | 132,557 | ||||||
Bank of Ningbo Co. Ltd., Class A |
39,360 | 237,657 | ||||||
Bank of Shanghai Co. Ltd., Class A |
82,100 | 90,948 | ||||||
Baoshan Iron & Steel Co. Ltd., Class A |
75,000 | 85,816 | ||||||
BBMG Corp., Class A |
203,800 | 93,018 | ||||||
BeiGene Ltd., ADR* |
5,488 | 1,155,334 | ||||||
Beijing Dabeinong Technology Group Co. Ltd., Class A |
21,200 | 27,819 |
See Notes to Financial Statements. | 11 |
DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
China (Continued) | ||||||||
Beijing Shiji Information Technology Co. Ltd., Class A |
6,200 | $ | 23,523 | |||||
Beijing United Information Technology Co. Ltd., Class A |
4,000 | 74,796 | ||||||
Beijing Wantai Biological Pharmacy Enterprise Co. Ltd., Class A |
2,300 | 91,781 | ||||||
Beijing-Shanghai High Speed Railway Co. Ltd., Class A |
248,900 | 203,538 | ||||||
Bilibili, Inc., ADR* (a) |
22,367 | 707,021 | ||||||
Blue Moon Group Holdings Ltd., 144A (a) |
155,975 | 121,767 | ||||||
BOC International China Co. Ltd., Class A |
16,100 | 29,904 | ||||||
BOE Technology Group Co. Ltd., Class A |
250,500 | 186,585 | ||||||
BYD Co. Ltd., Class A |
10,200 | 403,474 | ||||||
BYD Co. Ltd., Class H |
76,992 | 2,339,212 | ||||||
By-health Co. Ltd., Class A |
4,800 | 18,842 | ||||||
CanSino Biologics, Inc., Class H, 144A* (a) |
6,057 | 109,067 | ||||||
CGN Power Co. Ltd., Class A |
141,100 | 65,742 | ||||||
CGN Power Co. Ltd., Class H, 144A |
1,831,480 | 518,009 | ||||||
Changchun High & New Technology Industry Group, Inc., Class A |
1,700 | 49,047 | ||||||
Changzhou Xingyu Automotive Lighting Systems Co. Ltd., Class A |
1,600 | 39,120 | ||||||
China Baoan Group Co. Ltd., Class A |
15,100 | 32,928 | ||||||
China Bohai Bank Co. Ltd., Class H, 144A (a) |
314,387 | 52,306 | ||||||
China Cinda Asset Management Co. Ltd., Class H |
676,696 | 122,111 | ||||||
China CITIC Bank Corp. Ltd., Class H |
820,493 | 385,376 | ||||||
China Conch Venture Holdings Ltd. |
148,250 | 713,388 | ||||||
China Construction Bank Corp., Class A |
140,300 | 134,074 | ||||||
China Construction Bank Corp., Class H |
13,775,109 | 10,330,847 | ||||||
China CSSC Holdings Ltd., Class A |
9,600 | 33,334 | ||||||
China Eastern Airlines Corp. Ltd., Class A* |
62,800 | 53,743 | ||||||
China Everbright Bank Co. Ltd., Class A |
360,500 | 190,819 | ||||||
China Everbright Bank Co. Ltd., Class H |
597,247 | 221,664 | ||||||
China Evergrande Group (a) |
185,090 | 37,901 | ||||||
China Feihe Ltd., 144A |
144,494 | 172,349 | ||||||
China Galaxy Securities Co. Ltd., Class H |
381,125 | 218,031 | ||||||
China Greatwall Technology Group Co. Ltd., Class A |
15,300 | 32,200 | ||||||
China Hongqiao Group Ltd. |
223,994 | 311,322 | ||||||
China International Capital Corp. Ltd., Class A |
11,800 | 79,178 | ||||||
China International Capital Corp. Ltd., Class H, 144A |
222,756 | 541,659 | ||||||
China International Marine Containers Group Co. Ltd., Class H |
58,819 | 97,408 | ||||||
China Lesso Group Holdings Ltd. |
133,370 | 204,483 | ||||||
China Life Insurance Co. Ltd., Class A |
21,600 | 98,518 | ||||||
China Life Insurance Co. Ltd., Class H |
1,127,148 | 1,869,516 | ||||||
China Literature Ltd., 144A* |
42,187 | 227,572 | ||||||
China Meidong Auto Holdings Ltd. |
64,838 | 304,121 | ||||||
China Merchants Bank Co. Ltd., Class A |
111,200 | 877,616 |
Number |
Value |
|||||||
China (Continued) | ||||||||
China Merchants Bank Co. Ltd., Class H |
367,463 | $ | 3,094,445 | |||||
China Merchants Securities Co. Ltd., Class A |
42,400 | 106,437 | ||||||
China Merchants Securities Co. Ltd., Class H, 144A |
31,640 | 39,886 | ||||||
China Merchants Shekou Industrial Zone Holdings Co. Ltd., Class A |
14,300 | 30,708 | ||||||
China Minsheng Banking Corp. Ltd., Class A |
281,900 | 174,680 | ||||||
China Minsheng Banking Corp. Ltd., Class H |
575,455 | 223,887 | ||||||
China Molybdenum Co. Ltd., Class H |
329,296 | 197,231 | ||||||
China National Building Material Co. Ltd., Class H |
329,766 | 422,880 | ||||||
China National Chemical Engineering Co. Ltd., Class A |
66,000 | 108,884 | ||||||
China National Nuclear Power Co. Ltd., Class A |
137,200 | 160,900 | ||||||
China Northern Rare Earth Group High-Tech Co. Ltd., Class A |
15,200 | 118,541 | ||||||
China Pacific Insurance Group Co. Ltd., Class A |
36,900 | 154,617 | ||||||
China Pacific Insurance Group Co. Ltd., Class H |
225,079 | 626,524 | ||||||
China Railway Group Ltd., Class A |
153,900 | 151,461 | ||||||
China Railway Group Ltd., Class H |
392,311 | 230,455 | ||||||
China Railway Signal & Communication Corp. Ltd., Class H, 144A |
249,186 | 90,570 | ||||||
China Reinsurance Group Corp., Class H |
848,934 | 81,485 | ||||||
China Resources Mixc Lifestyle Services Ltd., 144A |
58,816 | 302,597 | ||||||
China Southern Airlines Co. Ltd., Class H* |
149,015 | 94,020 | ||||||
China State Construction Engineering Corp. Ltd., Class A |
248,500 | 200,454 | ||||||
China Tower Corp. Ltd., Class H, 144A |
3,990,424 | 464,733 | ||||||
China United Network Communications Ltd., Class A |
176,600 | 106,912 | ||||||
China Vanke Co. Ltd., Class A |
62,800 | 191,087 | ||||||
China Vanke Co. Ltd., Class H |
167,165 | 396,214 | ||||||
China Yangtze Power Co. Ltd., Class A |
270,300 | 992,956 | ||||||
China Zhenhua Group Science & Technology Co. Ltd., Class A |
5,700 | 105,843 | ||||||
Chongqing Changan Automobile Co. Ltd., Class A |
38,200 | 78,337 | ||||||
Chongqing Rural Commercial Bank Co. Ltd., Class H |
320,912 | 118,283 | ||||||
Chongqing Zhifei Biological Products Co. Ltd., Class A |
9,400 | 192,588 | ||||||
CIFI Holdings Group Co. Ltd. |
369,885 | 257,519 | ||||||
CITIC Securities Co. Ltd., Class A |
98,555 | 364,388 | ||||||
CITIC Securities Co. Ltd., Class H |
193,829 | 469,831 | ||||||
Contemporary Amperex Technology Co. Ltd., Class A |
21,100 | 1,783,502 | ||||||
COSCO SHIPPING Holdings Co. Ltd., Class A* |
77,700 | 215,738 | ||||||
COSCO SHIPPING Holdings Co. Ltd., Class H* |
308,329 | 619,523 |
See Notes to Financial Statements. | 12 |
DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
China (Continued) | ||||||||
Country Garden Holdings Co. Ltd. |
789,746 | $ | 612,496 | |||||
Country Garden Services Holdings Co. Ltd. |
173,200 | 1,035,161 | ||||||
CRRC Corp. Ltd., Class A |
138,800 | 127,362 | ||||||
CRRC Corp. Ltd., Class H |
411,288 | 182,650 | ||||||
CSC Financial Co. Ltd., Class H, 144A |
131,508 | 139,693 | ||||||
Dada Nexus Ltd., ADR* |
28,888 | 240,059 | ||||||
Dali Foods Group Co. Ltd., 144A |
179,908 | 94,631 | ||||||
DaShenLin Pharmaceutical Group Co. Ltd., Class A |
5,300 | 29,893 | ||||||
Dongfang Electric Corp. Ltd., Class A |
11,300 | 29,119 | ||||||
Dongfang Electric Corp. Ltd., Class H |
30,880 | 38,690 | ||||||
Dongfeng Motor Group Co. Ltd., Class H |
157,073 | 134,886 | ||||||
East Money Information Co. Ltd., Class A |
62,300 | 264,010 | ||||||
Ecovacs Robotics Co. Ltd., Class A |
2,200 | 47,232 | ||||||
Eve Energy Co. Ltd., Class A |
12,000 | 170,206 | ||||||
Everbright Securities Co. Ltd., Class A |
54,400 | 114,835 | ||||||
Evergrande Property Services Group Ltd., 144A* |
362,957 | 109,161 | ||||||
Flat Glass Group Co. Ltd., Class A |
11,900 | 92,409 | ||||||
Flat Glass Group Co. Ltd., Class H |
76,361 | 314,681 | ||||||
Focus Media Information Technology Co. Ltd., Class A |
95,500 | 115,780 | ||||||
Foshan Haitian Flavouring & Food Co. Ltd., Class A |
12,800 | 200,824 | ||||||
Founder Securities Co. Ltd., Class A |
49,100 | 55,870 | ||||||
Foxconn Industrial Internet Co. Ltd., Class A |
70,000 | 123,914 | ||||||
Fujian Sunner Development Co. Ltd., Class A* |
9,200 | 28,737 | ||||||
Fuyao Glass Industry Group Co. Ltd., Class A |
15,200 | 105,990 | ||||||
Fuyao Glass Industry Group Co. Ltd., Class H, 144A |
47,115 | 230,338 | ||||||
Ganfeng Lithium Co. Ltd., Class A |
7,000 | 167,967 | ||||||
Ganfeng Lithium Co. Ltd., Class H, 144A |
20,970 | 352,913 | ||||||
GDS Holdings Ltd., ADR* (a) |
27,957 | 1,244,646 | ||||||
GEM Co. Ltd., Class A |
75,600 | 114,538 | ||||||
Gemdale Corp., Class A |
14,900 | 30,012 | ||||||
Genscript Biotech Corp.* |
153,488 | 606,000 | ||||||
GF Securities Co. Ltd., Class A |
50,300 | 148,349 | ||||||
GF Securities Co. Ltd., Class H |
109,027 | 163,533 | ||||||
Gigadevice Semiconductor Beijing, Inc., Class A |
3,600 | 87,467 | ||||||
GoerTek, Inc., Class A |
12,100 | 83,952 | ||||||
Gotion High-tech Co. Ltd., Class A* |
10,500 | 71,686 | ||||||
Great Wall Motor Co. Ltd., Class A |
7,900 | 45,710 | ||||||
Great Wall Motor Co. Ltd., Class H |
195,286 | 406,382 | ||||||
Gree Electric Appliances, Inc. of Zhuhai, Class A |
50,900 | 296,607 | ||||||
Guangdong Haid Group Co. Ltd., Class A |
7,000 | 73,084 | ||||||
Guangdong Kinlong Hardware Products Co. Ltd., Class A |
3,200 | 53,756 | ||||||
Guangzhou Automobile Group Co. Ltd., Class H |
157,073 | 154,787 |
Number |
Value |
|||||||
China (Continued) | ||||||||
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class A |
35,300 | $ | 166,654 | |||||
Guangzhou Kingmed Diagnostics Group Co. Ltd., Class A |
3,200 | 42,700 | ||||||
Guangzhou Tinci Materials Technology Co. Ltd., Class A |
7,000 | 117,802 | ||||||
Guosen Securities Co. Ltd., Class A |
24,000 | 39,366 | ||||||
Guotai Junan Securities Co. Ltd., Class A |
52,200 | 138,069 | ||||||
Guotai Junan Securities Co. Ltd., Class H, 144A |
78,389 | 115,572 | ||||||
Haidilao International Holding Ltd., 144A (a) |
85,379 | 195,809 | ||||||
Haier Smart Home Co. Ltd., Class A |
46,600 | 188,246 | ||||||
Haier Smart Home Co. Ltd., Class H |
200,873 | 700,537 | ||||||
Haitong Securities Co. Ltd., Class A |
56,600 | 100,822 | ||||||
Haitong Securities Co. Ltd., Class H |
252,989 | 217,578 | ||||||
Hangzhou First Applied Material Co. Ltd., Class A |
12,400 | 233,144 | ||||||
Hangzhou Silan Microelectronics Co. Ltd., Class A |
12,300 | 111,090 | ||||||
Hangzhou Tigermed Consulting Co. Ltd., Class A |
7,000 | 112,910 | ||||||
Hangzhou Tigermed Consulting Co. Ltd., Class H, 144A |
9,782 | 109,542 | ||||||
Hansoh Pharmaceutical Group Co. Ltd., 144A |
117,993 | 252,485 | ||||||
Hengan International Group Co. Ltd. |
58,353 | 309,550 | ||||||
Hithink RoyalFlush Information Network Co. Ltd., Class A |
4,300 | 73,563 | ||||||
Hongfa Technology Co. Ltd., Class A |
10,000 | 99,525 | ||||||
Hua Hong Semiconductor Ltd., 144A* |
95,161 | 493,239 | ||||||
Huadong Medicine Co. Ltd., Class A |
23,200 | 139,310 | ||||||
Huaneng Lancang River Hydropower, Inc., Class A |
73,600 | 71,850 | ||||||
Huatai Securities Co. Ltd., Class A |
44,700 | 112,210 | ||||||
Huatai Securities Co. Ltd., Class H, 144A |
126,281 | 206,544 | ||||||
Huaxia Bank Co. Ltd., Class A |
109,400 | 97,610 | ||||||
Huaxin Cement Co. Ltd., Class B |
51,300 | 97,111 | ||||||
Huayu Automotive Systems Co. Ltd., Class A |
26,800 | 107,710 | ||||||
Huazhu Group Ltd., ADR* |
9,319 | 385,434 | ||||||
Huizhou Desay Sv Automotive Co. Ltd., Class A |
4,600 | 96,316 | ||||||
Hunan Valin Steel Co. Ltd., Class A |
39,300 | 36,310 | ||||||
Hundsun Technologies, Inc., Class A |
7,000 | 57,952 | ||||||
Iflytek Co. Ltd., Class A |
15,200 | 118,011 | ||||||
Industrial & Commercial Bank of China Ltd., Class A |
572,100 | 422,502 | ||||||
Industrial & Commercial Bank of China Ltd., Class H |
11,637,133 | 6,955,144 | ||||||
Industrial Bank Co. Ltd., Class A |
125,200 | 437,902 | ||||||
Industrial Securities Co. Ltd., Class A |
94,500 | 122,506 | ||||||
Ingenic Semiconductor Co. Ltd., Class A |
4,500 | 79,374 | ||||||
Inner Mongolia BaoTou Steel Union Co. Ltd., Class A* |
282,000 | 119,772 | ||||||
Inner Mongolia Yili Industrial Group Co. Ltd., Class A |
34,400 | 215,450 |
See Notes to Financial Statements. | 13 |
DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
China (Continued) | ||||||||
Innovent Biologics, Inc., 144A* |
76,987 | $ | 344,356 | |||||
Inspur Electronic Information Industry Co. Ltd., Class A |
24,600 | 128,380 | ||||||
Intco Medical Technology Co. Ltd., Class A |
4,800 | 38,970 | ||||||
iQIYI, Inc., ADR* |
29,823 | 123,467 | ||||||
JA Solar Technology Co. Ltd., Class A |
12,200 | 183,599 | ||||||
Jafron Biomedical Co. Ltd., Class A |
9,800 | 71,054 | ||||||
Jason Furniture Hangzhou Co. Ltd., Class A |
10,200 | 113,800 | ||||||
JCET Group Co. Ltd., Class A |
25,900 | 114,888 | ||||||
JD Health International, Inc., 144A* (a) |
63,503 | 470,561 | ||||||
JD.com, Inc., ADR* |
82,749 | 5,927,311 | ||||||
JD.com, Inc., Class A* |
43,777 | 1,564,245 | ||||||
Jiangsu Eastern Shenghong Co. Ltd., Class A |
27,400 | 82,678 | ||||||
Jiangsu Hengrui Medicine Co. Ltd., Class A |
38,200 | 242,640 | ||||||
Jiangsu Zhongtian Technology Co. Ltd., Class A |
34,900 | 103,483 | ||||||
Jiangxi Copper Co. Ltd., Class A |
38,200 | 134,154 | ||||||
Jiangxi Copper Co. Ltd., Class H |
76,521 | 137,496 | ||||||
Jiangxi Zhengbang Technology Co. Ltd., Class A |
21,900 | 23,913 | ||||||
Joinn Laboratories China Co. Ltd., Class H, 144A |
10,629 | 88,556 | ||||||
Jonjee Hi-Tech Industrial And Commercial Holding Co. Ltd., Class A |
6,100 | 33,265 | ||||||
KE Holdings, Inc., ADR* |
55,079 | 1,069,083 | ||||||
Kingdee International Software Group Co. Ltd.* |
428,655 | 1,052,204 | ||||||
Kingfa Sci & Tech Co. Ltd., Class A |
4,300 | 7,319 | ||||||
Kingsoft Cloud Holdings Ltd., ADR* (a) |
13,756 | 92,715 | ||||||
Kingsoft Corp. Ltd. |
129,117 | 479,209 | ||||||
Kuaishou Technology, 144A* |
91,859 | 1,052,763 | ||||||
Kuang-Chi Technologies Co. Ltd., Class A* |
9,700 | 31,191 | ||||||
LB Group Co. Ltd., Class A |
8,000 | 33,534 | ||||||
Legend Holdings Corp., Class H, 144A |
142,165 | 199,774 | ||||||
Lenovo Group Ltd. |
1,021,913 | 1,136,520 | ||||||
Lens Technology Co. Ltd., Class A |
46,600 | 107,379 | ||||||
Li Auto, Inc., ADR* |
89,342 | 2,720,464 | ||||||
Li Ning Co. Ltd. |
210,422 | 2,091,105 | ||||||
Lingyi iTech Guangdong Co., Class A* |
43,900 | 41,674 | ||||||
Livzon Pharmaceutical Group, Inc., Class H |
26,124 | 97,793 | ||||||
Logan Group Co. Ltd. |
204,659 | 68,100 | ||||||
Longfor Group Holdings Ltd., 144A |
183,324 | 980,706 | ||||||
LONGi Green Energy Technology Co. Ltd., Class A |
62,300 | 766,853 | ||||||
Lufax Holding Ltd., ADR* |
290,360 | 1,878,629 | ||||||
Luxshare Precision Industry Co. Ltd., Class A |
36,700 | 252,596 | ||||||
Mango Excellent Media Co. Ltd., Class A |
9,200 | 49,762 | ||||||
Maxscend Microelectronics Co. Ltd., Class A |
1,500 | 64,101 | ||||||
Meituan, Class B, 144A* |
359,436 | 7,921,328 |
Number |
Value |
|||||||
China (Continued) | ||||||||
Metallurgical Corp. of China Ltd., Class A |
203,500 | $ | 131,259 | |||||
Metallurgical Corp. of China Ltd., Class H |
244,500 | 74,160 | ||||||
Microport Scientific Corp. (a) |
65,564 | 181,243 | ||||||
Ming Yang Smart Energy Group Ltd., Class A |
19,900 | 81,051 | ||||||
Ming Yuan Cloud Group Holdings Ltd.* (a) |
43,800 | 85,989 | ||||||
MINISO Group Holding Ltd., ADR |
28,425 | 248,150 | ||||||
Montage Technology Co. Ltd., Class A |
10,348 | 126,767 | ||||||
Muyuan Foods Co. Ltd., Class A |
23,200 | 209,866 | ||||||
NARI Technology Co. Ltd., Class A |
27,860 | 156,078 | ||||||
NAURA Technology Group Co. Ltd., Class A |
4,100 | 196,975 | ||||||
NavInfo Co. Ltd., Class A* |
12,300 | 33,352 | ||||||
NetEase, Inc., ADR |
36,479 | 3,477,908 | ||||||
New China Life Insurance Co. Ltd., Class A |
18,300 | 110,496 | ||||||
New China Life Insurance Co. Ltd., Class H |
135,022 | 386,212 | ||||||
New Hope Liuhe Co. Ltd., Class A* |
12,100 | 29,473 | ||||||
New Oriental Education & Technology Group, Inc., ADR* |
144,899 | 218,797 | ||||||
Ninestar Corp., Class A |
17,000 | 134,437 | ||||||
NIO, Inc., ADR* |
194,127 | 4,433,861 | ||||||
Nongfu Spring Co. Ltd., Class H, 144A |
161,736 | 1,013,217 | ||||||
Offcn Education Technology Co. Ltd., Class A* |
29,300 | 32,550 | ||||||
Oppein Home Group, Inc., Class A |
3,200 | 64,208 | ||||||
Orient Securities Co. Ltd., Class A |
55,500 | 107,834 | ||||||
Ovctek China, Inc., Class A |
4,100 | 26,634 | ||||||
Pangang Group Vanadium Titanium & Resources Co. Ltd., Class A* |
52,700 | 35,078 | ||||||
People’s Insurance Co. Group of China Ltd., Class A |
187,800 | 137,799 | ||||||
People’s Insurance Co. Group of China Ltd., Class H |
1,183,386 | 380,140 | ||||||
Pharmaron Beijing Co. Ltd., Class A |
4,600 | 88,377 | ||||||
Pharmaron Beijing Co. Ltd., Class H, 144A |
11,651 | 140,760 | ||||||
PICC Property & Casualty Co. Ltd., Class H |
620,673 | 655,330 | ||||||
Pinduoduo, Inc., ADR* |
58,119 | 3,014,051 | ||||||
Ping An Bank Co. Ltd., Class A |
116,900 | 291,787 | ||||||
Ping An Healthcare and Technology Co. Ltd., 144A* (a) |
45,199 | 139,408 | ||||||
Ping An Insurance Group Co. of China Ltd., Class A |
107,900 | 867,988 | ||||||
Ping An Insurance Group Co. of China Ltd., Class H |
922,628 | 7,131,926 | ||||||
Poly Developments and Holdings Group Co. Ltd., Class A |
54,400 | 136,388 | ||||||
Poly Property Services Co. Ltd., Class H |
13,771 | 97,374 | ||||||
Pop Mart International Group Ltd., 144A* |
24,238 | 121,443 | ||||||
Postal Savings Bank of China Co. Ltd., Class A |
203,200 | 179,692 |
See Notes to Financial Statements. | 14 |
DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
China (Continued) | ||||||||
Postal Savings Bank of China Co. Ltd., Class H, 144A (a) |
1,141,691 | $ | 936,591 | |||||
Rongsheng Petrochemical Co. Ltd., Class A |
27,500 | 82,064 | ||||||
SAIC Motor Corp. Ltd., Class A |
54,400 | 156,131 | ||||||
Sangfor Technologies, Inc., Class A |
1,700 | 39,200 | ||||||
Sany Heavy Industry Co. Ltd., Class A |
38,200 | 118,717 | ||||||
Satellite Chemical Co. Ltd., Class A |
17,700 | 126,453 | ||||||
SDIC Capital Co. Ltd., Class A |
63,300 | 74,235 | ||||||
Seazen Group Ltd.* |
186,429 | 98,300 | ||||||
Seazen Holdings Co. Ltd., Class A |
20,700 | 99,038 | ||||||
SF Holding Co. Ltd., Class A |
15,200 | 145,496 | ||||||
SG Micro Corp., Class A |
900 | 49,635 | ||||||
Shandong Gold Mining Co. Ltd., Class H, 144A |
117,058 | 221,721 | ||||||
Shandong Hualu Hengsheng Chemical Co. Ltd., Class A |
23,200 | 129,310 | ||||||
Shandong Linglong Tyre Co. Ltd., Class A |
17,800 | 78,873 | ||||||
Shandong Nanshan Aluminum Co. Ltd., Class A |
124,200 | 95,660 | ||||||
Shandong Weigao Group Medical Polymer Co. Ltd., Class H |
236,110 | 325,140 | ||||||
Shanghai Baosight Software Co. Ltd., Class A |
9,800 | 83,432 | ||||||
Shanghai Baosight Software Co. Ltd., Class B |
54,400 | 234,355 | ||||||
Shanghai Electric Group Co. Ltd., Class H |
388,620 | 108,921 | ||||||
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class A |
24,700 | 165,971 | ||||||
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class H |
69,878 | 279,916 | ||||||
Shanghai International Airport Co. Ltd., Class A* |
8,300 | 68,860 | ||||||
Shanghai Jinjiang International Hotels Co. Ltd., Class A |
6,500 | 57,882 | ||||||
Shanghai Junshi Biosciences Co. Ltd., Class H, 144A* |
20,504 | 138,815 | ||||||
Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd., Class B |
144,004 | 128,308 | ||||||
Shanghai MicroPort MedBot Group Co. Ltd.* |
24,858 | 154,454 | ||||||
Shanghai Pharmaceuticals Holding Co. Ltd., Class H |
60,215 | 108,505 | ||||||
Shanghai Pudong Development Bank Co. Ltd., Class A |
195,800 | 260,343 | ||||||
Shanghai Putailai New Energy Technology Co. Ltd., Class A |
3,300 | 76,083 | ||||||
Shanghai Yuyuan Tourist Mart Group Co. Ltd., Class A |
21,000 | 34,845 | ||||||
Shanxi Taigang Stainless Steel Co. Ltd., Class A |
49,700 | 57,576 | ||||||
Shenwan Hongyuan Group Co. Ltd., Class A |
182,700 | 132,609 | ||||||
Shenzhen Capchem Technology Co. Ltd., Class A |
2,100 | 31,949 |
Number |
Value |
|||||||
China (Continued) | ||||||||
Shenzhen Inovance Technology Co. Ltd., Class A |
11,050 | $ | 111,481 | |||||
Shenzhen Kangtai Biological Products Co. Ltd., Class A |
2,500 | 33,455 | ||||||
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A |
6,100 | 316,224 | ||||||
Shenzhen Overseas Chinese Town Co. Ltd., Class A |
40,600 | 44,396 | ||||||
Shenzhou International Group Holdings Ltd. |
72,794 | 1,223,217 | ||||||
Sichuan Kelun Pharmaceutical Co. Ltd., Class A |
23,200 | 63,864 | ||||||
Sichuan Road & Bridge Co. Ltd., Class A |
48,200 | 95,178 | ||||||
Sinoma Science & Technology Co. Ltd., Class A |
18,100 | 85,423 | ||||||
Sinopharm Group Co. Ltd., Class H |
209,317 | 505,766 | ||||||
Sinotrans Ltd., Class H |
179,300 | 55,990 | ||||||
Sinotruk Hong Kong Ltd. |
56,264 | 83,816 | ||||||
Sunac China Holdings Ltd. |
230,518 | 188,811 | ||||||
Sunac Services Holdings Ltd., 144A |
76,988 | 65,325 | ||||||
Sungrow Power Supply Co. Ltd., Class A |
12,400 | 237,978 | ||||||
Suning.com Co. Ltd., Class A* |
50,300 | 28,618 | ||||||
Sunny Optical Technology Group Co. Ltd. |
40,537 | 968,588 | ||||||
Sunwoda Electronic Co. Ltd., Class A |
11,300 | 65,758 | ||||||
Suzhou Maxwell Technologies Co. Ltd., Class A |
1,000 | 86,704 | ||||||
TCL Technology Group Corp., Class A |
109,400 | 96,397 | ||||||
Tencent Holdings Ltd. |
890,666 | 48,011,636 | ||||||
Tencent Music Entertainment Group, ADR* |
94,972 | 511,899 | ||||||
Thunder Software Technology Co. Ltd., Class A |
3,200 | 70,714 | ||||||
Tianjin Zhonghuan Semiconductor Co. Ltd., Class A |
30,400 | 231,156 | ||||||
Tingyi Cayman Islands Holding Corp. |
120,322 | 266,092 | ||||||
Tongcheng Travel Holdings Ltd.* |
129,611 | 240,521 | ||||||
Tongwei Co. Ltd., Class A |
23,200 | 157,731 | ||||||
Topchoice Medical Corp., Class A* |
2,200 | 56,234 | ||||||
Topsports International Holdings Ltd., 144A |
236,576 | 244,942 | ||||||
TravelSky Technology Ltd., Class H |
157,073 | 295,905 | ||||||
Trip.com Group Ltd., ADR* |
56,486 | 1,458,468 | ||||||
Unigroup Guoxin Microelectronics Co. Ltd., Class A |
3,100 | 108,726 | ||||||
Uni-President China Holdings Ltd. |
162,488 | 168,442 | ||||||
Vipshop Holdings Ltd., ADR* |
51,365 | 445,335 | ||||||
Walvax Biotechnology Co. Ltd., Class A |
7,000 | 51,862 | ||||||
Wanhua Chemical Group Co. Ltd., Class A |
15,200 | 228,361 | ||||||
Want Want China Holdings Ltd. |
401,164 | 426,645 | ||||||
Weibo Corp., ADR* |
8,393 | 230,220 | ||||||
Weichai Power Co. Ltd., Class A |
54,400 | 130,698 | ||||||
Weichai Power Co. Ltd., Class H |
188,293 | 318,091 | ||||||
Wens Foodstuffs Group Co. Ltd., Class A |
45,400 | 140,229 | ||||||
Western Securities Co. Ltd., Class A |
51,900 | 62,510 | ||||||
Will Semiconductor Co. Ltd., Class A |
3,900 | 151,927 |
See Notes to Financial Statements. | 15 |
DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
China (Continued) | ||||||||
Wingtech Technology Co. Ltd., Class A |
7,000 | $ | 129,461 | |||||
Wuhu Sanqi Interactive Entertainment Network Technology Group Co. Ltd., Class A |
22,400 | 73,945 | ||||||
WuXi AppTec Co. Ltd., Class A |
12,168 | 200,415 | ||||||
WuXi AppTec Co. Ltd., Class H, 144A |
33,550 | 475,746 | ||||||
Wuxi Biologics Cayman, Inc., 144A* |
533,301 | 4,385,194 | ||||||
Wuxi Lead Intelligent Equipment Co. Ltd., Class A |
8,800 | 93,760 | ||||||
XCMG Construction Machinery Co. Ltd., Class A |
166,900 | 146,269 | ||||||
Xiaomi Corp., Class B, 144A* |
880,894 | 1,652,726 | ||||||
Xinjiang Goldwind Science & Technology Co. Ltd., Class A |
65,300 | 154,712 | ||||||
Xinjiang Goldwind Science & Technology Co. Ltd., Class H |
128,115 | 208,888 | ||||||
Xinyi Solar Holdings Ltd. |
774,778 | 1,400,088 | ||||||
XPeng, Inc., ADR* (a) |
82,454 | 2,998,852 | ||||||
Yealink Network Technology Corp. Ltd., Class A |
8,600 | 104,154 | ||||||
Yifeng Pharmacy Chain Co. Ltd., Class A |
7,000 | 54,813 | ||||||
Yihai International Holding Ltd.* |
42,399 | 176,895 | ||||||
Yihai Kerry Arawana Holdings Co. Ltd., Class A |
8,300 | 70,293 | ||||||
Yonyou Network Technology Co. Ltd., Class A |
23,200 | 115,265 | ||||||
YTO Express Group Co. Ltd., Class A |
16,300 | 44,922 | ||||||
Yunda Holding Co. Ltd., Class A |
28,100 | 86,348 | ||||||
Yunnan Aluminium Co. Ltd., Class A* |
39,700 | 90,662 | ||||||
Yunnan Baiyao Group Co. Ltd., Class A |
7,000 | 100,119 | ||||||
Yunnan Energy New Material Co. Ltd., Class A |
5,200 | 214,263 | ||||||
Zai Lab Ltd., ADR* |
6,833 | 373,765 | ||||||
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., Class A |
3,800 | 217,588 | ||||||
Zhejiang Century Huatong Group Co. Ltd., Class A* |
91,100 | 93,987 | ||||||
Zhejiang Chint Electrics Co. Ltd., Class A |
8,400 | 66,455 | ||||||
Zhejiang Dahua Technology Co. Ltd., Class A |
41,900 | 124,173 | ||||||
Zhejiang Dingli Machinery Co. Ltd., Class A |
2,700 | 24,612 | ||||||
Zhejiang Expressway Co. Ltd., Class H |
89,570 | 80,701 | ||||||
Zhejiang Huayou Cobalt Co. Ltd., Class A |
2,800 | 54,638 | ||||||
Zhejiang Jingsheng Mechanical & Electrical Co. Ltd., Class A |
11,500 | 118,463 | ||||||
Zhejiang Jiuzhou Pharmaceutical Co. Ltd., Class A |
4,500 | 34,132 | ||||||
Zhejiang NHU Co. Ltd., Class A |
13,000 | 69,945 | ||||||
Zhejiang Sanhua Intelligent Controls Co. Ltd., Class A |
7,500 | 23,891 | ||||||
Zheshang Securities Co. Ltd., Class A |
54,900 | 100,490 | ||||||
ZhongAn Online P&C Insurance Co. Ltd., Class H, 144A* (a) |
109,606 | 359,102 | ||||||
Zhongsheng Group Holdings Ltd. |
34,014 | 236,810 | ||||||
Zhuzhou CRRC Times Electric Co. Ltd. |
50,843 | 263,530 |
Number |
Value |
|||||||
China (Continued) | ||||||||
Zhuzhou Kibing Group Co. Ltd., Class A |
27,700 | $ | 68,965 | |||||
Zijin Mining Group Co. Ltd., Class A |
109,400 | 194,527 | ||||||
Zijin Mining Group Co. Ltd., Class H |
334,878 | 496,293 | ||||||
Zoomlion Heavy Industry Science and Technology Co. Ltd., Class H |
197,145 | 130,695 | ||||||
ZTE Corp., Class A |
38,200 | 175,926 | ||||||
ZTE Corp., Class H |
51,306 | 126,070 | ||||||
ZTO Express Cayman, Inc., ADR |
43,331 | 1,275,665 | ||||||
|
|
|||||||
(Cost $258,463,300) |
230,022,749 | |||||||
|
|
|||||||
Colombia — 0.1% | ||||||||
Bancolombia SA |
38,671 | 387,106 | ||||||
Interconexion Electrica SA ESP |
40,535 | 252,564 | ||||||
|
|
|||||||
(Cost $573,737) |
639,670 | |||||||
|
|
|||||||
Czech Republic — 0.1% | ||||||||
Komercni Banka AS |
10,719 | 422,362 | ||||||
Moneta Money Bank AS, 144A |
49,064 | 194,421 | ||||||
|
|
|||||||
(Cost $641,376) |
616,783 | |||||||
|
|
|||||||
Egypt — 0.1% | ||||||||
Commercial International Bank Egypt SAE* |
308,333 | 938,345 | ||||||
Fawry for Banking & Payment Technology Services SAE* |
146,823 | 90,374 | ||||||
|
|
|||||||
(Cost $1,113,455) |
1,028,719 | |||||||
|
|
|||||||
Greece — 0.3% | ||||||||
Alpha Services and Holdings SA* |
289,060 | 393,503 | ||||||
Eurobank Ergasias Services and Holdings SA* |
407,676 | 447,004 | ||||||
Hellenic Telecommunications Organization SA |
33,549 | 670,744 | ||||||
JUMBO SA |
12,578 | 180,692 | ||||||
National Bank of Greece SA* |
88,875 | 329,421 | ||||||
Piraeus Financial Holdings SA* |
92,400 | 146,958 | ||||||
Star Bulk Carriers Corp. |
7,362 | 221,449 | ||||||
Terna Energy SA |
6,072 | 88,115 | ||||||
|
|
|||||||
(Cost $2,388,136) |
2,477,886 | |||||||
|
|
|||||||
Hong Kong — 1.2% | ||||||||
Beijing Enterprises Water Group Ltd. |
313,922 | 123,742 | ||||||
BOC Hong Kong Holdings Ltd. |
536,759 | 1,930,318 | ||||||
China Everbright Environment Group Ltd. |
326,288 | 233,847 | ||||||
China Jinmao Holdings Group Ltd. |
637,555 | 212,146 | ||||||
China Mengniu Dairy Co. Ltd.* |
277,115 | 1,799,863 | ||||||
China Merchants Port Holdings Co. Ltd. |
103,082 | 193,929 | ||||||
China Overseas Land & Investment Ltd. |
436,573 | 1,332,565 | ||||||
China Resources Cement Holdings Ltd. |
163,660 | 139,914 | ||||||
China Resources Land Ltd. |
259,875 | 1,263,838 | ||||||
China State Construction International Holdings Ltd. |
179,441 | 252,155 | ||||||
China Taiping Insurance Holdings Co. Ltd. |
224,925 | 265,695 | ||||||
Guangdong Investment Ltd. |
272,903 | 366,725 | ||||||
Jinmao Property Services Co. Ltd.* |
9,630 | 37 | ||||||
Orient Overseas International Ltd. |
18,964 | 533,944 | ||||||
|
|
|||||||
(Cost $7,883,638) |
8,648,718 | |||||||
|
|
See Notes to Financial Statements. | 16 |
DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
Hungary — 0.2% | ||||||||
OTP Bank Nyrt* |
32,641 | $ | 1,261,780 | |||||
Richter Gedeon Nyrt |
13,981 | 295,236 | ||||||
|
|
|||||||
(Cost $2,328,328) |
1,557,016 | |||||||
|
|
|||||||
India — 12.8% | ||||||||
Aarti Industries Ltd. |
20,590 | 253,086 | ||||||
ABB India Ltd. |
3,953 | 113,292 | ||||||
ACC Ltd. |
7,639 | 211,806 | ||||||
Adani Green Energy Ltd.* |
80,018 | 1,957,665 | ||||||
Adani Ports & Special Economic Zone Ltd. |
65,339 | 613,522 | ||||||
Adani Transmission Ltd.* |
35,411 | 1,003,102 | ||||||
Alkem Laboratories Ltd. |
3,727 | 162,141 | ||||||
Ambuja Cements Ltd. |
51,776 | 215,941 | ||||||
Apollo Hospitals Enterprise Ltd. |
11,649 | 742,531 | ||||||
Ashok Leyland Ltd. |
184,567 | 290,638 | ||||||
Asian Paints Ltd. |
56,489 | 2,380,076 | ||||||
Astral Ltd. |
8,033 | 207,015 | ||||||
AU Small Finance Bank Ltd., 144A* |
19,570 | 312,611 | ||||||
Aurobindo Pharma Ltd. |
27,025 | 224,259 | ||||||
Avenue Supermarts Ltd., 144A* |
20,523 | 1,182,216 | ||||||
Axis Bank Ltd., GDR* |
15,970 | 776,142 | ||||||
Axis Bank Ltd.* |
258,482 | 2,546,827 | ||||||
Bajaj Auto Ltd. |
5,052 | 236,708 | ||||||
Bajaj Finance Ltd. |
21,921 | 2,037,193 | ||||||
Bajaj Finserv Ltd. |
3,364 | 714,904 | ||||||
Bajaj Holdings & Investment Ltd. |
3,260 | 225,088 | ||||||
Balkrishna Industries Ltd. |
8,439 | 204,128 | ||||||
Bandhan Bank Ltd., 144A |
95,160 | 386,841 | ||||||
Bank of Baroda* |
105,822 | 149,644 | ||||||
Berger Paints India Ltd. |
34,012 | 311,670 | ||||||
Bharat Forge Ltd. |
31,721 | 285,709 | ||||||
Bharti Airtel Ltd.* |
208,547 | 1,900,096 | ||||||
Biocon Ltd.* |
57,888 | 268,015 | ||||||
Bosch Ltd. |
348 | 72,737 | ||||||
Britannia Industries Ltd. |
6,992 | 318,056 | ||||||
Cadila Healthcare Ltd. |
21,432 | 102,513 | ||||||
Cholamandalam Investment and Finance Co. Ltd. |
56,489 | 518,014 | ||||||
Cipla Ltd. |
44,733 | 549,192 | ||||||
Colgate-Palmolive India Ltd. |
17,704 | 340,793 | ||||||
Container Corp. Of India Ltd. |
23,765 | 188,991 | ||||||
Dabur India Ltd. |
58,352 | 436,280 | ||||||
Dalmia Bharat Ltd. |
10,419 | 216,684 | ||||||
Deepak Nitrite Ltd. |
11,621 | 308,318 | ||||||
Divi’s Laboratories Ltd. |
12,113 | 685,649 | ||||||
DLF Ltd. |
62,078 | 288,979 | ||||||
Dr. Reddy’s Laboratories Ltd. |
16,263 | 877,044 | ||||||
Eicher Motors Ltd. |
8,767 | 301,334 | ||||||
Embassy Office Parks REIT |
120,321 | 597,090 | ||||||
Gland Pharma Ltd., 144A* |
4,923 | 213,209 | ||||||
Godrej Consumer Products Ltd.* |
58,295 | 594,149 | ||||||
Godrej Properties Ltd.* |
12,579 | 250,779 | ||||||
Grasim Industries Ltd. |
28,739 | 609,699 | ||||||
Havells India Ltd. |
34,948 | 549,956 | ||||||
HCL Technologies Ltd. |
90,503 | 1,353,626 | ||||||
HDFC Asset Management Co. Ltd., 144A |
6,987 | 193,454 | ||||||
HDFC Life Insurance Co. Ltd., 144A |
112,868 | 783,736 |
Number |
Value |
|||||||
India (Continued) | ||||||||
Hero MotoCorp Ltd. |
12,582 | $ | 423,385 | |||||
Hindalco Industries Ltd. |
118,745 | 904,210 | ||||||
Hindustan Unilever Ltd. |
72,913 | 2,101,919 | ||||||
Honeywell Automation India Ltd. |
218 | 118,482 | ||||||
Housing Development Finance Corp. Ltd. |
238,103 | 7,471,974 | ||||||
ICICI Bank Ltd. |
457,922 | 4,513,735 | ||||||
ICICI Lombard General Insurance Co. Ltd., 144A |
26,118 | 438,076 | ||||||
ICICI Prudential Life Insurance Co. Ltd., 144A |
48,705 | 309,725 | ||||||
IDFC First Bank Ltd.* |
339,914 | 189,925 | ||||||
Indian Railway Catering & Tourism Corp. Ltd. |
26,746 | 287,294 | ||||||
Indus Towers Ltd.* |
65,805 | 187,858 | ||||||
Info Edge India Ltd. |
8,854 | 523,420 | ||||||
Infosys Ltd., ADR |
146,236 | 3,284,461 | ||||||
Infosys Ltd. |
343,736 | 7,826,583 | ||||||
InterGlobe Aviation Ltd., 144A* |
7,454 | 185,481 | ||||||
JSW Energy Ltd. |
75,069 | 338,943 | ||||||
JSW Steel Ltd. |
90,967 | 757,520 | ||||||
Jubilant Foodworks Ltd. |
8,856 | 342,087 | ||||||
Kansai Nerolac Paints Ltd. |
13,977 | 84,338 | ||||||
Kotak Mahindra Bank Ltd. |
98,488 | 2,408,690 | ||||||
L&T Technology Services Ltd., 144A |
2,918 | 175,514 | ||||||
Larsen & Toubro Infotech Ltd., 144A |
5,589 | 433,917 | ||||||
Laurus Labs Ltd., 144A |
38,779 | 278,719 | ||||||
Lupin Ltd. |
19,568 | 193,700 | ||||||
Mahindra & Mahindra Ltd. |
92,378 | 969,603 | ||||||
Marico Ltd. |
69,066 | 471,791 | ||||||
Maruti Suzuki India Ltd. |
10,285 | 1,134,889 | ||||||
Max Financial Services Ltd.* |
28,735 | 316,458 | ||||||
Mindtree Ltd. |
6,525 | 336,107 | ||||||
Motherson Sumi Systems Ltd. |
92,192 | 184,084 | ||||||
Motherson Sumi Wiring India Ltd.* (b) |
92,192 | 42,580 | ||||||
Mphasis Ltd. |
9,193 | 379,286 | ||||||
MRF Ltd. |
434 | 378,666 | ||||||
Muthoot Finance Ltd. |
14,447 | 260,524 | ||||||
Nestle India Ltd. |
3,261 | 763,413 | ||||||
NHPC Ltd. |
287,826 | 104,667 | ||||||
NMDC Ltd. |
65,806 | 125,022 | ||||||
Oracle Financial Services Software Ltd. |
3,725 | 167,571 | ||||||
Page Industries Ltd. |
467 | 261,902 | ||||||
PI Industries Ltd. |
9,787 | 320,618 | ||||||
Pidilite Industries Ltd. |
12,421 | 396,125 | ||||||
Piramal Enterprises Ltd. |
10,304 | 283,113 | ||||||
Polycab India Ltd. |
4,177 | 131,653 | ||||||
Power Finance Corp. Ltd. |
84,447 | 123,116 | ||||||
Power Grid Corp. of India Ltd. |
270,035 | 749,565 | ||||||
Punjab National Bank* |
205,373 | 95,126 | ||||||
REC Ltd. |
84,911 | 138,105 | ||||||
SBI Cards & Payment Services Ltd.* |
21,350 | 222,589 | ||||||
SBI Life Insurance Co. Ltd., 144A |
49,715 | 699,497 | ||||||
Shree Cement Ltd. |
802 | 259,870 | ||||||
Shriram Transport Finance Co. Ltd. |
17,705 | 264,162 | ||||||
Siemens Ltd. |
5,593 | 174,250 | ||||||
SRF Ltd. |
16,300 | 515,657 |
See Notes to Financial Statements. | 17 |
DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
India (Continued) | ||||||||
State Bank of India |
266,946 | $ | 1,711,912 | |||||
Steel Authority of India Ltd. |
157,543 | 201,457 | ||||||
Sun Pharmaceutical Industries Ltd. |
82,169 | 920,302 | ||||||
Tata Communications Ltd. |
11,819 | 185,604 | ||||||
Tata Consultancy Services Ltd. |
132,038 | 6,228,335 | ||||||
Tata Consumer Products Ltd. |
81,648 | 778,689 | ||||||
Tata Elxsi Ltd. |
3,984 | 340,084 | ||||||
Tata Motors Ltd.* |
147,245 | 887,310 | ||||||
Tata Motors Ltd., Class A* |
24,360 | 70,092 | ||||||
Tata Power Co. Ltd. |
132,392 | 391,918 | ||||||
Tata Steel Ltd. |
56,792 | 920,121 | ||||||
Tech Mahindra Ltd. |
54,101 | 1,012,408 | ||||||
Titan Co. Ltd. |
32,153 | 1,086,688 | ||||||
Torrent Pharmaceuticals Ltd. |
6,521 | 237,992 | ||||||
Trent Ltd. |
19,224 | 282,718 | ||||||
UltraTech Cement Ltd. |
9,786 | 853,027 | ||||||
UPL Ltd. |
41,005 | 362,146 | ||||||
Varun Beverages Ltd. |
16,389 | 205,658 | ||||||
Vedanta Ltd. |
59,290 | 299,253 | ||||||
Voltas Ltd. |
27,026 | 453,073 | ||||||
Wipro Ltd. |
195,283 | 1,440,503 | ||||||
Yes Bank Ltd.* |
2,173,312 | 382,181 | ||||||
|
|
|||||||
(Cost $98,907,796) |
93,564,584 | |||||||
|
|
|||||||
Indonesia — 2.0% | ||||||||
Aneka Tambang Tbk |
1,038,467 | 160,465 | ||||||
PT Bank Central Asia Tbk |
8,159,797 | 4,572,031 | ||||||
PT Bank Jago Tbk* |
752,298 | 846,970 | ||||||
PT Bank Mandiri Persero Tbk |
2,628,708 | 1,408,857 | ||||||
PT Bank Negara Indonesia Persero Tbk |
705,182 | 392,668 | ||||||
PT Bank Rakyat Indonesia Persero Tbk |
9,664,695 | 3,060,789 | ||||||
PT Barito Pacific Tbk |
3,506,284 | 217,206 | ||||||
PT Chandra Asri Petrochemical Tbk |
455,459 | 286,108 | ||||||
PT Charoen Pokphand Indonesia Tbk |
438,950 | 177,205 | ||||||
PT Elang Mahkota Teknologi Tbk* |
2,186,824 | 315,078 | ||||||
PT Indah Kiat Pulp & Paper Tbk |
246,937 | 138,791 | ||||||
PT Indocement Tunggal Prakarsa Tbk |
235,751 | 179,681 | ||||||
PT Indofood CBP Sukses Makmur Tbk |
183,132 | 108,347 | ||||||
PT Indofood Sukses Makmur Tbk |
352,117 | 151,954 | ||||||
PT Kalbe Farma Tbk |
1,837,791 | 210,424 | ||||||
PT Merdeka Copper Gold Tbk* |
1,297,745 | 349,570 | ||||||
PT Sarana Menara Nusantara Tbk |
2,886,628 | 207,953 | ||||||
PT Semen Indonesia Persero Tbk |
317,173 | 158,951 | ||||||
PT Telkom Indonesia Persero Tbk |
4,303,062 | 1,299,874 | ||||||
PT Tower Bersama Infrastructure Tbk |
807,810 | 165,307 | ||||||
PT Unilever Indonesia Tbk |
894,134 | 229,026 | ||||||
|
|
|||||||
(Cost $13,413,245) |
14,637,255 | |||||||
|
|
|||||||
Kuwait — 0.7% | ||||||||
Agility Public Warehousing Co. KSC |
139,894 | 469,393 | ||||||
Boubyan Bank KSCP* |
131,973 | 358,698 | ||||||
Kuwait Finance House KSCP |
386,070 | 1,203,600 | ||||||
Mabanee Co KPSC |
47,699 | 133,582 | ||||||
Mobile Telecommunications Co. KSCP |
277,554 | 568,308 | ||||||
National Bank of Kuwait SAKP |
604,742 | 2,107,011 | ||||||
|
|
|||||||
(Cost $4,468,433) |
4,840,592 | |||||||
|
|
Number |
Value |
|||||||
Malaysia — 0.9% | ||||||||
AMMB Holdings Bhd* |
203,200 | $ | 162,618 | |||||
Axiata Group Bhd |
279,352 | 261,487 | ||||||
CIMB Group Holdings Bhd |
347,493 | 472,594 | ||||||
DiGi.Com Bhd |
183,400 | 176,913 | ||||||
Greatech Technology Bhd* |
61,300 | 60,884 | ||||||
Hartalega Holdings Bhd |
93,000 | 102,336 | ||||||
Hong Leong Bank Bhd |
62,800 | 300,052 | ||||||
IHH Healthcare Bhd |
93,300 | 146,000 | ||||||
Inari Amertron Bhd |
279,500 | 214,360 | ||||||
IOI Corp. Bhd |
106,000 | 116,137 | ||||||
Kossan Rubber Industries Bhd |
93,100 | 38,362 | ||||||
Kuala Lumpur Kepong Bhd |
29,700 | 183,923 | ||||||
Malayan Banking Bhd |
273,557 | 570,765 | ||||||
Malaysia Airports Holdings Bhd* |
46,900 | 68,699 | ||||||
Malaysian Pacific Industries Bhd |
8,000 | 68,177 | ||||||
Maxis Bhd |
181,800 | 174,071 | ||||||
MISC Bhd |
49,500 | 86,656 | ||||||
MR DIY Group M Bhd, 144A |
232,800 | 201,278 | ||||||
Nestle Malaysia Bhd |
5,319 | 169,762 | ||||||
Petronas Chemicals Group Bhd |
139,500 | 317,310 | ||||||
PPB Group Bhd |
46,700 | 199,547 | ||||||
Press Metal Aluminium Holdings Bhd |
169,400 | 275,575 | ||||||
Public Bank Bhd |
955,600 | 1,012,843 | ||||||
QL Resources Bhd |
66,000 | 77,813 | ||||||
RHB Bank Bhd |
188,649 | 265,102 | ||||||
Sime Darby Bhd |
140,000 | 75,694 | ||||||
Sime Darby Plantation Bhd |
93,500 | 109,345 | ||||||
Supermax Corp. Bhd |
95,238 | 23,818 | ||||||
Telekom Malaysia Bhd |
139,600 | 168,245 | ||||||
TIME dotCom Bhd |
93,300 | 94,444 | ||||||
Top Glove Corp. Bhd |
372,500 | 181,880 | ||||||
Westports Holdings Bhd |
93,100 | 86,703 | ||||||
|
|
|||||||
(Cost $6,425,185) |
6,463,393 | |||||||
|
|
|||||||
Mexico — 2.3% | ||||||||
Alfa SAB de CV, Class A |
477,910 | 358,798 | ||||||
America Movil SAB de CV, Series L |
2,507,070 | 2,271,179 | ||||||
Arca Continental SAB de CV |
41,006 | 271,172 | ||||||
Cemex SAB de CV, Series CPO* |
1,305,850 | 672,338 | ||||||
Coca-Cola Femsa SAB de CV |
75,829 | 417,435 | ||||||
El Puerto de Liverpool SAB de CV, Class C1 |
16,203 | 78,872 | ||||||
Fibra Uno Administracion SA de CV REIT |
298,536 | 337,218 | ||||||
Fomento Economico Mexicano SAB de CV |
182,570 | 1,474,588 | ||||||
Gruma SAB de CV, Class B |
12,674 | 172,297 | ||||||
Grupo Aeroportuario del Pacifico SAB de CV, Class B* |
35,413 | 516,329 | ||||||
Grupo Aeroportuario del Sureste SAB de CV, Class B |
12,112 | 262,549 | ||||||
Grupo Bimbo SAB de CV, Series A |
117,751 | 363,468 | ||||||
Grupo Elektra SAB DE CV |
6,992 | 459,817 | ||||||
Grupo Financiero Banorte SAB de CV, Class O |
423,448 | 2,871,136 | ||||||
Grupo Financiero Inbursa SAB de CV, Class O* |
188,171 | 307,410 | ||||||
Grupo Mexico SAB de CV, Series B |
287,353 | 1,477,655 |
See Notes to Financial Statements. | 18 |
DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
Mexico (Continued) | ||||||||
Grupo Televisa SAB, Series CPO |
398,820 | $ | 856,880 | |||||
Industrias Penoles SAB de CV |
12,114 | 151,552 | ||||||
Kimberly-Clark de Mexico SAB de CV, Class A |
265,106 | 372,893 | ||||||
Orbia Advance Corp. SAB de CV |
98,659 | 252,629 | ||||||
Telesites SAB de CV |
180,253 | 200,345 | ||||||
Wal-Mart de Mexico SAB de CV |
738,955 | 2,817,305 | ||||||
|
|
|||||||
(Cost $16,742,915) |
16,963,865 | |||||||
|
|
|||||||
Peru — 0.2% | ||||||||
Credicorp Ltd. |
7,930 | 1,199,412 | ||||||
Credicorp Ltd. |
1,733 | 259,950 | ||||||
InRetail Peru Corp., 144A |
4,448 | 157,415 | ||||||
Intercorp Financial Services, Inc. (a) |
4,120 | 133,076 | ||||||
|
|
|||||||
(Cost $1,422,951) |
1,749,853 | |||||||
|
|
|||||||
Philippines — 0.6% | ||||||||
Ayala Corp. |
23,320 | 386,620 | ||||||
Ayala Land, Inc. |
540,300 | 410,995 | ||||||
Bank of the Philippine Islands |
260,930 | 508,933 | ||||||
BDO Unibank, Inc. |
260,910 | 657,491 | ||||||
Globe Telecom, Inc. |
1,900 | 95,167 | ||||||
International Container Terminal Services, Inc. |
74,530 | 306,144 | ||||||
Jollibee Foods Corp. |
41,950 | 197,190 | ||||||
Metropolitan Bank & Trust Co. |
139,600 | 155,474 | ||||||
PLDT, Inc. |
6,995 | 245,446 | ||||||
SM Investments Corp. |
37,570 | 653,646 | ||||||
SM Prime Holdings, Inc. |
978,200 | 759,360 | ||||||
Universal Robina Corp. |
74,560 | 174,511 | ||||||
|
|
|||||||
(Cost $4,323,234) |
4,550,977 | |||||||
|
|
|||||||
Qatar — 1.1% | ||||||||
Commercial Bank PSQC |
162,669 | 308,271 | ||||||
Industries Qatar QSC |
273,849 | 1,376,390 | ||||||
Masraf Al Rayan QSC |
359,692 | 493,947 | ||||||
Mesaieed Petrochemical Holding Co. |
597,379 | 438,067 | ||||||
Ooredoo QPSC |
90,567 | 190,910 | ||||||
Qatar International Islamic Bank QSC |
122,187 | 343,976 | ||||||
Qatar Islamic Bank SAQ |
102,975 | 596,469 | ||||||
Qatar National Bank QPSC |
663,906 | 3,975,048 | ||||||
|
|
|||||||
(Cost $6,852,169) |
7,723,078 | |||||||
|
|
|||||||
Russia — 0.2% | ||||||||
Alrosa PJSC (b) |
246,725 | 93,198 | ||||||
MMC Norilsk Nickel PJSC (b) |
5,593 | 597,891 | ||||||
Mobile TeleSystems PJSC, ADR (b) |
25,457 | 65,918 | ||||||
Mobile TeleSystems PJSC (b) |
32,151 | 33,186 | ||||||
Novolipetsk Steel PJSC (b) |
121,611 | 62,856 | ||||||
PIK Group PJSC (b) |
21,692 | 47,830 | ||||||
Polymetal International PLC (b) |
28,889 | 106,155 | ||||||
Polyus PJSC (b) |
2,793 | 199,813 | ||||||
Sberbank of Russia PJSC (b) |
989,954 | 313,338 | ||||||
United Co RUSAL International PJSC* (b) |
255,320 | 69,866 | ||||||
Yandex NV, Class A* (b) |
28,401 | 240,759 | ||||||
|
|
|||||||
(Cost $10,259,194) |
1,830,810 | |||||||
|
|
Number |
Value |
|||||||
Saudi Arabia — 2.8% | ||||||||
Advanced Petrochemical Co. |
13,514 | $ | 270,158 | |||||
Al Rajhi Bank |
108,287 | 4,629,697 | ||||||
Alinma Bank |
113,135 | 1,070,526 | ||||||
Almarai Co. JSC |
35,094 | 468,643 | ||||||
Arab National Bank |
78,979 | 589,443 | ||||||
Arabian Centres Co. Ltd. |
24,229 | 146,600 | ||||||
Bank AlBilad* |
42,165 | 661,971 | ||||||
Banque Saudi Fransi |
73,261 | 1,036,906 | ||||||
BinDawood Holding Co. |
2,910 | 69,653 | ||||||
Bupa Arabia for Cooperative Insurance Co. |
6,989 | 301,788 | ||||||
Dar Al Arkan Real Estate Development Co.* |
71,398 | 208,197 | ||||||
Dr Sulaiman Al Habib Medical Services Group Co. |
10,253 | 467,872 | ||||||
Etihad Etisalat Co. |
46,650 | 433,959 | ||||||
Jarir Marketing Co. |
7,920 | 440,786 | ||||||
Mouwasat Medical Services Co. |
6,057 | 334,841 | ||||||
National Industrialization Co.* |
42,864 | 257,753 | ||||||
National Petrochemical Co. |
16,308 | 195,607 | ||||||
Riyad Bank |
130,444 | 1,234,310 | ||||||
Sahara International Petrochemical Co. |
48,048 | 596,806 | ||||||
Saudi British Bank |
89,808 | 926,399 | ||||||
Saudi Industrial Investment Group |
30,287 | 284,569 | ||||||
Saudi Kayan Petrochemical Co.* |
92,833 | 503,298 | ||||||
Saudi National Bank |
197,059 | 3,582,222 | ||||||
Saudi Telecom Co. |
53,440 | 1,623,840 | ||||||
Savola Group |
33,085 | 298,953 | ||||||
|
|
|||||||
(Cost $18,365,717) |
20,634,797 | |||||||
|
|
|||||||
Singapore — 0.0% | ||||||||
BOC
Aviation Ltd., 144A |
13,979 | 121,207 | ||||||
|
|
|||||||
South Africa — 3.3% | ||||||||
Absa Group Ltd. |
91,667 | 1,047,860 | ||||||
Anglo American Platinum Ltd. |
3,827 | 594,389 | ||||||
AngloGold Ashanti Ltd. |
34,479 | 811,029 | ||||||
Aspen Pharmacare Holdings Ltd. |
34,016 | 442,467 | ||||||
Bid Corp. Ltd. |
29,354 | 593,444 | ||||||
Bidvest Group Ltd. |
19,102 | 260,128 | ||||||
Capitec Bank Holdings Ltd. |
5,594 | 750,941 | ||||||
Clicks Group Ltd. (a) |
22,833 | 441,736 | ||||||
Discovery Ltd.* |
53,465 | 545,981 | ||||||
FirstRand Ltd. |
549,326 | 2,350,522 | ||||||
Gold Fields Ltd. |
97,345 | 1,353,349 | ||||||
Harmony Gold Mining Co. Ltd. |
67,441 | 293,245 | ||||||
Impala Platinum Holdings Ltd. |
73,034 | 1,389,170 | ||||||
Investec Ltd. |
23,164 | 129,592 | ||||||
Kumba Iron Ore Ltd. |
5,123 | 200,398 | ||||||
MTN Group Ltd.* |
147,581 | 1,829,899 | ||||||
MultiChoice Group |
38,672 | 315,382 | ||||||
Naspers Ltd., Class N |
19,537 | 2,438,202 | ||||||
Nedbank Group Ltd. |
58,945 | 833,832 | ||||||
Northam Platinum Holdings Ltd.* |
29,103 | 467,588 | ||||||
Old Mutual Ltd. |
720,828 | 587,765 | ||||||
Pepkor Holdings Ltd., 144A |
106,170 | 150,813 | ||||||
Rand Merchant Investment Holdings Ltd. |
92,599 | 289,917 |
See Notes to Financial Statements. | 19 |
DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
South Africa (Continued) | ||||||||
Sanlam Ltd. |
256,719 | $ | 1,074,224 | |||||
Shoprite Holdings Ltd. |
37,276 | 552,416 | ||||||
Sibanye Stillwater Ltd. |
246,019 | 1,136,281 | ||||||
Standard Bank Group Ltd. |
198,424 | 2,088,444 | ||||||
Vodacom Group Ltd. |
52,293 | 500,883 | ||||||
Woolworths Holdings Ltd. |
146,181 | 477,731 | ||||||
|
|
|||||||
(Cost $22,305,164) |
23,947,628 | |||||||
|
|
|||||||
South Korea — 10.4% | ||||||||
Alteogen, Inc.* |
2,796 | 124,179 | ||||||
Amorepacific Corp. |
2,332 | 356,874 | ||||||
AMOREPACIFIC Group |
1,865 | 75,695 | ||||||
BGF retail Co. Ltd. |
934 | 131,670 | ||||||
BNK Financial Group, Inc. |
41,005 | 268,740 | ||||||
Celltrion Healthcare Co. Ltd. |
8,491 | 448,437 | ||||||
Celltrion Pharm, Inc.* |
1,895 | 138,537 | ||||||
Celltrion, Inc. |
8,016 | 1,063,378 | ||||||
Cheil Worldwide, Inc. |
6,988 | 130,769 | ||||||
Chong Kun Dang Pharmaceutical Corp. |
980 | 78,328 | ||||||
CJ CheilJedang Corp. |
514 | 161,807 | ||||||
CJ Corp. |
932 | 65,190 | ||||||
CJ ENM Co. Ltd. |
1,399 | 151,262 | ||||||
Coway Co. Ltd. |
7,458 | 447,226 | ||||||
CS Wind Corp. |
2,331 | 115,547 | ||||||
Daewoo Engineering & Construction Co. Ltd.* |
16,441 | 85,736 | ||||||
DB Insurance Co. Ltd. |
6,058 | 311,377 | ||||||
DL E&C Co. Ltd. |
2,327 | 248,696 | ||||||
Dongsuh Cos., Inc. |
3,479 | 79,427 | ||||||
Doosan Bobcat, Inc. |
3,260 | 103,438 | ||||||
Doosan Co. Ltd.* |
932 | 87,979 | ||||||
Doosan Fuel Cell Co. Ltd.* |
4,195 | 135,373 | ||||||
Doosan Heavy Industries & Construction Co. Ltd.* |
28,630 | 495,283 | ||||||
Douzone Bizon Co. Ltd. |
2,796 | 112,319 | ||||||
Ecopro BM Co. Ltd. |
469 | 146,354 | ||||||
E-MART, Inc. |
1,399 | 151,262 | ||||||
F&F Co. Ltd. / New |
382 | 282,763 | ||||||
Fila Holdings Corp. |
4,658 | 136,368 | ||||||
Genexine, Inc.* |
2,328 | 89,937 | ||||||
Green Cross Corp. |
467 | 70,690 | ||||||
GS Engineering & Construction Corp. |
3,726 | 132,789 | ||||||
Hana Financial Group, Inc. |
36,934 | 1,495,975 | ||||||
Hanjin Kal Corp.* |
1,665 | 72,978 | ||||||
Hankook Tire & Technology Co. Ltd. |
6,989 | 204,610 | ||||||
Hanmi Pharm. Co. Ltd.* |
474 | 104,470 | ||||||
Hanmi Science Co. Ltd.* |
2,357 | 89,097 | ||||||
Hanon Systems |
13,977 | 134,266 | ||||||
Hansol Chemical Co. Ltd. |
933 | 166,448 | ||||||
Hanssem Co. Ltd. |
1,219 | 74,011 | ||||||
Hanwha Life Insurance Co. Ltd.* |
68,135 | 167,455 | ||||||
Hanwha Solutions Corp.* |
8,853 | 249,240 | ||||||
Helixmith Co. Ltd.* |
5,240 | 87,598 | ||||||
HLB, Inc.* |
6,059 | 156,722 | ||||||
HMM Co. Ltd.* |
33,546 | 804,925 | ||||||
Hugel, Inc. |
930 | 113,548 | ||||||
HYBE Co. Ltd.* |
1,471 | 352,962 |
Number |
Value |
|||||||
South Korea (Continued) | ||||||||
Hyosung Advanced Materials Corp. |
245 | $ | 94,548 | |||||
Hyosung TNC Corp. |
244 | 97,815 | ||||||
Hyundai Autoever Corp. |
728 | 65,089 | ||||||
Hyundai Department Store Co. Ltd. |
1,247 | 80,689 | ||||||
Hyundai Doosan Infracore Co. Ltd.* |
14,964 | 84,132 | ||||||
Hyundai Elevator Co. Ltd.* |
3,262 | 102,417 | ||||||
Hyundai Engineering & Construction Co. Ltd. |
5,614 | 202,176 | ||||||
Hyundai Glovis Co. Ltd. |
1,400 | 204,932 | ||||||
Hyundai Marine & Fire Insurance Co. Ltd. |
8,386 | 200,871 | ||||||
Hyundai Mipo Dockyard Co. Ltd. |
2,332 | 154,775 | ||||||
Hyundai Mobis Co. Ltd. |
4,619 | 860,528 | ||||||
Hyundai Motor Co. |
10,810 | 1,573,377 | ||||||
Hyundai Steel Co. |
7,455 | 246,154 | ||||||
Iljin Materials Co. Ltd. |
860 | 65,018 | ||||||
Industrial Bank of Korea |
20,967 | 187,462 | ||||||
Kakao Corp. |
23,506 | 1,839,660 | ||||||
Kakao Games Corp.* |
4,196 | 256,503 | ||||||
KakaoBank Corp.* |
23,321 | 931,017 | ||||||
KB Financial Group, Inc. |
46,098 | 2,288,893 | ||||||
KCC Corp. |
467 | 128,757 | ||||||
Kia Corp. |
20,038 | 1,229,928 | ||||||
KIWOOM Securities Co. Ltd.* |
1,861 | 157,102 | ||||||
KMW Co. Ltd. |
3,261 | 84,213 | ||||||
Korea Gas Corp. |
2,566 | 87,607 | ||||||
Korea Investment Holdings Co. Ltd.* |
2,798 | 184,307 | ||||||
Korea Zinc Co. Ltd. |
873 | 399,343 | ||||||
Korean Air Lines Co. Ltd.* |
17,705 | 431,452 | ||||||
KT Corp. |
6,250 | 166,341 | ||||||
Kumho Petrochemical Co. Ltd.* |
1,397 | 186,484 | ||||||
L&F Co. Ltd. |
2,569 | 416,647 | ||||||
LEENO Industrial, Inc. |
1,398 | 209,406 | ||||||
LG Chem Ltd. |
3,868 | 1,817,624 | ||||||
LG Corp. |
8,390 | 524,746 | ||||||
LG Display Co. Ltd. |
20,036 | 311,617 | ||||||
LG Electronics, Inc. |
13,981 | 1,436,066 | ||||||
LG Household & Health Care Ltd. |
1,211 | 956,835 | ||||||
LG Innotek Co. Ltd. |
935 | 254,290 | ||||||
LG Uplus Corp. |
34,013 | 371,997 | ||||||
Lotte Chemical Corp. |
1,081 | 197,796 | ||||||
Lotte Shopping Co. Ltd. |
1,134 | 80,451 | ||||||
LS Corp. |
2,793 | 113,128 | ||||||
Mando Corp. |
3,729 | 140,650 | ||||||
MedPacto, Inc.* |
1,532 | 44,277 | ||||||
Meritz Financial Group, Inc. |
3,814 | 116,893 | ||||||
Meritz Fire & Marine Insurance Co. Ltd. |
5,125 | 175,188 | ||||||
Meritz Securities Co. Ltd. |
37,275 | 181,670 | ||||||
Mirae Asset Securities Co. Ltd. |
46,650 | 341,043 | ||||||
NAVER Corp. |
11,184 | 2,957,967 | ||||||
NCSoft Corp. |
1,344 | 495,749 | ||||||
Netmarble Corp., 144A |
1,861 | 158,650 | ||||||
NH Investment & Securities Co. Ltd. |
11,646 | 111,874 | ||||||
Orion Corp. |
1,400 | 106,541 | ||||||
Pan Ocean Co. Ltd. |
18,638 | 101,844 | ||||||
Pearl Abyss Corp.* |
2,797 | 221,229 | ||||||
S-1 Corp. |
2,328 | 135,147 |
See Notes to Financial Statements. | 20 |
DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
South Korea (Continued) | ||||||||
Samsung Biologics Co. Ltd., 144A* |
1,150 | $ | 745,083 | |||||
Samsung C&T Corp. |
6,524 | 596,864 | ||||||
Samsung Electro-Mechanics Co. Ltd. |
4,661 | 643,511 | ||||||
Samsung Electronics Co. Ltd. |
420,776 | 25,232,212 | ||||||
Samsung Engineering Co. Ltd.* |
13,510 | 260,683 | ||||||
Samsung Fire & Marine Insurance Co. Ltd. |
4,659 | 738,171 | ||||||
Samsung Life Insurance Co. Ltd. |
10,250 | 509,793 | ||||||
Samsung SDI Co. Ltd. |
4,094 | 1,865,939 | ||||||
Samsung SDS Co. Ltd. |
2,796 | 325,562 | ||||||
Samsung Securities Co. Ltd. |
8,387 | 295,064 | ||||||
Seegene, Inc. |
3,730 | 159,146 | ||||||
Shin Poong Pharmaceutical Co. Ltd.* |
3,727 | 107,562 | ||||||
Shinhan Financial Group Co. Ltd. |
63,361 | 2,057,843 | ||||||
Shinsegae, Inc. |
468 | 101,786 | ||||||
SK Biopharmaceuticals Co. Ltd.* |
2,798 | 196,873 | ||||||
SK Bioscience Co. Ltd.* |
1,779 | 216,022 | ||||||
SK Chemicals Co. Ltd. |
1,398 | 145,340 | ||||||
SK Hynix, Inc. |
41,535 | 4,266,289 | ||||||
SK IE Technology Co. Ltd., 144A* |
2,796 | 287,193 | ||||||
SK Telecom Co. Ltd. |
5,625 | 255,437 | ||||||
SKC Co. Ltd. |
952 | 108,870 | ||||||
Solus Advanced Materials Co. Ltd. |
1,316 | 68,955 | ||||||
Soulbrain Co. Ltd./New |
469 | 88,663 | ||||||
SSANGYONG C&E Co. Ltd. |
18,172 | 114,562 | ||||||
Studio Dragon Corp.* |
1,861 | 132,028 | ||||||
Wemade Co. Ltd. |
1,864 | 169,137 | ||||||
WONIK IPS Co. Ltd. |
5,125 | 152,810 | ||||||
Woori Financial Group, Inc. |
45,870 | 545,549 | ||||||
Yuhan Corp. |
2,402 | 116,070 | ||||||
|
|
|||||||
(Cost $85,318,789) |
75,775,667 | |||||||
|
|
|||||||
Taiwan — 19.9% | ||||||||
Accton Technology Corp. |
59,226 | 532,368 | ||||||
Acer, Inc. |
468,779 | 481,571 | ||||||
Advantech Co. Ltd. |
36,346 | 475,149 | ||||||
ASE Technology Holding Co. Ltd. |
285,360 | 1,010,745 | ||||||
Asia Cement Corp. |
168,257 | 270,676 | ||||||
ASMedia Technology, Inc. |
3,262 | 197,803 | ||||||
Asustek Computer, Inc. |
90,228 | 1,195,638 | ||||||
AU Optronics Corp. |
1,278,970 | 937,501 | ||||||
Catcher Technology Co. Ltd. |
63,941 | 326,148 | ||||||
Cathay Financial Holding Co. Ltd. |
1,087,985 | 2,417,744 | ||||||
Chailease Holding Co. Ltd. |
188,941 | 1,691,607 | ||||||
Chang Hwa Commercial Bank Ltd. |
724,430 | 457,372 | ||||||
Cheng Shin Rubber Industry Co. Ltd. |
176,648 | 224,315 | ||||||
Chicony Electronics Co. Ltd. |
61,613 | 196,915 | ||||||
China Airlines Ltd. * |
292,486 | 291,078 | ||||||
China Development Financial Holding Corp.* |
259,946 | 86,417 | ||||||
China Development Financial Holding Corp. |
2,493,276 | 1,685,307 | ||||||
China Steel Corp. |
1,035,010 | 1,329,066 | ||||||
Chroma ATE, Inc. |
49,447 | 332,469 | ||||||
Chunghwa Telecom Co. Ltd. |
339,549 | 1,507,895 | ||||||
Compal Electronics, Inc. |
538,036 | 487,466 | ||||||
CTBC Financial Holding Co. Ltd. |
2,693,112 | 2,608,097 |
Number |
Value |
|||||||
Taiwan (Continued) | ||||||||
Delta Electronics, Inc. |
269,848 | $ | 2,372,660 | |||||
E.Sun Financial Holding Co. Ltd. |
1,739,424 | 1,827,217 | ||||||
Eclat Textile Co. Ltd. |
28,420 | 586,951 | ||||||
eMemory Technology, Inc. |
7,000 | 460,674 | ||||||
Eva Airways Corp.* |
254,281 | 292,512 | ||||||
Evergreen Marine Corp. Taiwan Ltd. |
238,436 | 1,220,459 | ||||||
Far Eastern New Century Corp. |
240,769 | 253,780 | ||||||
Far EasTone Telecommunications Co. Ltd. |
252,415 | 623,947 | ||||||
Feng TAY Enterprise Co. Ltd. |
64,876 | 479,020 | ||||||
First Financial Holding Co. Ltd. |
1,494,201 | 1,369,751 | ||||||
Formosa Chemicals & Fibre Corp. |
300,094 | 845,637 | ||||||
Formosa Plastics Corp. |
281,306 | 1,053,580 | ||||||
Formosa Sumco Technology Corp. |
7,000 | 64,170 | ||||||
Foxconn Technology Co. Ltd. |
75,865 | 172,648 | ||||||
Fubon Financial Holding Co. Ltd. |
1,043,732 | 2,795,943 | ||||||
Giant Manufacturing Co. Ltd. |
28,887 | 298,298 | ||||||
Globalwafers Co. Ltd. |
19,569 | 480,238 | ||||||
Highwealth Construction Corp. |
99,819 | 174,287 | ||||||
Hiwin Technologies Corp. |
20,585 | 194,212 | ||||||
Hon Hai Precision Industry Co. Ltd. |
1,034,282 | 3,799,930 | ||||||
Hotai Motor Co. Ltd. |
23,766 | 534,067 | ||||||
Hua Nan Financial Holdings Co. Ltd. |
795,773 | 627,308 | ||||||
Innolux Corp. |
835,407 | 499,128 | ||||||
Inventec Corp. |
235,883 | 215,816 | ||||||
Largan Precision Co. Ltd. |
8,386 | 604,235 | ||||||
Lite-On Technology Corp. |
185,967 | 453,724 | ||||||
Macronix International Co. Ltd. |
190,160 | 295,058 | ||||||
MediaTek, Inc. |
127,974 | 4,952,801 | ||||||
Mega Financial Holding Co. Ltd. |
1,484,555 | 1,991,056 | ||||||
Merida Industry Co. Ltd. |
32,614 | 329,223 | ||||||
Micro-Star International Co. Ltd. |
106,811 | 592,442 | ||||||
momo.com, Inc. |
7,457 | 261,467 | ||||||
Nan Ya Plastics Corp. |
433,779 | 1,356,962 | ||||||
Nan Ya Printed Circuit Board Corp. |
24,966 | 466,638 | ||||||
Nanya Technology Corp. |
179,906 | 494,766 | ||||||
Nien Made Enterprise Co. Ltd. |
14,445 | 186,005 | ||||||
Novatek Microelectronics Corp. |
33,551 | 546,318 | ||||||
Oneness Biotech Co. Ltd.* |
28,424 | 250,934 | ||||||
Pegatron Corp. |
157,075 | 387,155 | ||||||
Phison Electronics Corp. |
16,306 | 296,631 | ||||||
Pou Chen Corp. |
209,319 | 239,670 | ||||||
Powerchip Semiconductor Manufacturing Corp. |
280,000 | 532,335 | ||||||
Powertech Technology, Inc. |
64,876 | 217,989 | ||||||
Quanta Computer, Inc. |
237,043 | 785,493 | ||||||
Realtek Semiconductor Corp. |
33,957 | 552,324 | ||||||
Ruentex Development Co. Ltd. |
121,015 | 309,066 | ||||||
Ruentex Industries Ltd. |
51,576 | 211,566 | ||||||
Shanghai Commercial & Savings Bank Ltd. |
503,312 | 822,247 | ||||||
Shin Kong Financial Holding Co. Ltd. |
1,723,694 | 691,691 | ||||||
Silicon Motion Technology Corp., ADR |
4,657 | 337,819 | ||||||
Sino-American Silicon Products, Inc. |
50,841 | 330,054 | ||||||
SinoPac Financial Holdings Co. Ltd. |
1,559,163 | 951,014 | ||||||
Standard Foods Corp. |
47,053 | 85,261 | ||||||
Synnex Technology International Corp. |
85,840 | 220,150 |
See Notes to Financial Statements. | 21 |
DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
Taiwan (Continued) | ||||||||
Taishin Financial Holding Co. Ltd. |
1,455,622 | $ | 1,012,471 | |||||
Taiwan Business Bank |
283,163 | 112,114 | ||||||
Taiwan Cement Corp. |
275,100 | 464,633 | ||||||
Taiwan Cooperative Financial Holding Co. Ltd. |
774,899 | 731,089 | ||||||
Taiwan Fertilizer Co. Ltd. |
88,936 | 216,987 | ||||||
Taiwan High Speed Rail Corp. |
345,193 | 363,847 | ||||||
Taiwan Mobile Co. Ltd. |
246,823 | 911,225 | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd. |
3,211,708 | 69,194,636 | ||||||
Tatung Co. Ltd.* |
201,397 | 224,493 | ||||||
Teco Electric and Machinery Co. Ltd. |
191,553 | 205,321 | ||||||
Tripod Technology Corp. |
62,078 | 282,324 | ||||||
Unimicron Technology Corp. |
134,084 | 1,214,815 | ||||||
Uni-President Enterprises Corp. |
373,365 | 893,625 | ||||||
United Microelectronics Corp. |
1,662,852 | 3,090,230 | ||||||
Vanguard International Semiconductor Corp. |
141,231 | 632,227 | ||||||
Voltronic Power Technology Corp. |
7,924 | 407,011 | ||||||
Walsin Lihwa Corp. |
346,181 | 344,514 | ||||||
Walsin Technology Corp.* |
34,943 | 181,975 | ||||||
Wan Hai Lines Ltd. |
72,551 | 483,932 | ||||||
Win Semiconductors Corp. |
29,820 | 321,228 | ||||||
Winbond Electronics Corp. |
273,384 | 321,800 | ||||||
Wistron Corp. |
202,084 | 211,923 | ||||||
Wiwynn Corp. |
9,650 | 339,738 | ||||||
WPG Holdings Ltd. |
109,138 | 216,836 | ||||||
Yageo Corp. |
34,946 | 562,801 | ||||||
Yang Ming Marine Transport Corp.* |
212,114 | 873,878 | ||||||
Yuanta Financial Holding Co. Ltd. |
1,707,852 | 1,513,826 | ||||||
Zhen Ding Technology Holding Ltd. |
90,035 | 295,460 | ||||||
|
|
|||||||
(Cost $145,039,573) |
145,362,633 | |||||||
|
|
|||||||
Thailand — 2.0% | ||||||||
Advanced Info Service PCL, NVDR |
93,400 | 654,586 | ||||||
Airports of Thailand PCL, NVDR* |
372,600 | 732,657 | ||||||
Asset World Corp. PCL, NVDR* |
1,039,800 | 152,748 | ||||||
Bangkok Bank PCL |
93,100 | 396,049 | ||||||
Bangkok Bank PCL, NVDR |
93,100 | 398,898 | ||||||
Bangkok Commercial Asset Management PCL, NVDR |
246,200 | 165,012 | ||||||
Bangkok Dusit Medical Services PCL, NVDR |
605,700 | 439,329 | ||||||
Bangkok Expressway & Metro PCL |
95,100 | 25,903 | ||||||
Bangkok Expressway & Metro PCL, NVDR |
605,800 | 165,008 | ||||||
Berli Jucker PCL, NVDR |
139,500 | 143,022 | ||||||
BTS Group Holdings PCL, NVDR |
747,100 | 217,213 | ||||||
Bumrungrad Hospital PCL, NVDR |
46,600 | 218,917 | ||||||
Carabao Group PCL, NVDR |
46,500 | 151,561 | ||||||
Central Pattana PCL, NVDR |
186,300 | 315,014 | ||||||
Central Retail Corp. PCL |
232,800 | 272,520 | ||||||
Central Retail Corp. PCL, NVDR |
232,800 | 272,520 | ||||||
Charoen Pokphand Foods PCL, NVDR |
326,300 | 252,152 | ||||||
Com7 PCL, NVDR |
64,000 | 161,591 | ||||||
Energy Absolute PCL, NVDR |
326,200 | 948,401 | ||||||
Fabrinet* |
2,086 | 208,871 |
Number |
Value |
|||||||
Thailand (Continued) | ||||||||
Hana Microelectronics PCL, NVDR |
66,000 | $ | 103,015 | |||||
Home Product Center PCL, NVDR |
559,200 | 260,133 | ||||||
Indorama Ventures PCL, NVDR |
186,300 | 256,572 | ||||||
Intouch Holdings PCL, Class F |
19,200 | 44,511 | ||||||
Intouch Holdings PCL, NVDR |
186,400 | 432,129 | ||||||
Kasikornbank PCL, NVDR |
233,000 | 1,165,891 | ||||||
KCE Electronics PCL, NVDR |
65,000 | 120,352 | ||||||
Krung Thai Bank PCL, NVDR |
792,300 | 339,471 | ||||||
Krungthai Card PCL |
46,900 | 90,786 | ||||||
Krungthai Card PCL, NVDR |
46,900 | 90,786 | ||||||
Land & Houses PCL, NVDR |
559,200 | 164,294 | ||||||
Minor International PCL, NVDR* |
186,631 | 175,636 | ||||||
Muangthai Capital PCL |
600 | 946 | ||||||
Osotspa PCL |
139,700 | 150,709 | ||||||
Osotspa PCL, NVDR |
139,700 | 150,709 | ||||||
PTT Exploration & Production PCL, NVDR |
107,000 | 446,993 | ||||||
PTT Global Chemical PCL, NVDR |
326,700 | 529,919 | ||||||
SCG Packaging PCL |
93,000 | 174,331 | ||||||
SCG Packaging PCL, NVDR |
93,000 | 174,331 | ||||||
Siam Cement PCL, NVDR |
46,600 | 559,057 | ||||||
Siam Commercial Bank PCL, NVDR |
277,100 | 1,064,301 | ||||||
Siam Global House PCL, NVDR |
261,893 | 157,897 | ||||||
Sri Trang Agro-Industry PCL, NVDR |
79,680 | 65,232 | ||||||
Sri Trang Gloves Thailand PCL |
93,500 | 73,684 | ||||||
Srisawad Corp. PCL, NVDR |
48,000 | 84,836 | ||||||
Thai Union Group PCL, NVDR |
140,000 | 87,406 | ||||||
Tisco Financial Group PCL, NVDR |
59,700 | 178,598 | ||||||
TMBThanachart Bank PCL, NVDR |
6,697,700 | 280,822 | ||||||
Total Access Communication PCL, NVDR |
105,400 | 151,608 | ||||||
True Corp. PCL, NVDR |
3,263,900 | 499,449 | ||||||
|
|
|||||||
(Cost $13,327,135) |
14,366,376 | |||||||
|
|
|||||||
Turkey — 0.5% | ||||||||
Akbank TAS |
529,165 | 268,407 | ||||||
Akcansa Cimento AS |
17,385 | 20,772 | ||||||
Anadolu Efes Biracilik Ve Malt Sanayii AS |
34,267 | 59,734 | ||||||
Arcelik AS |
46,892 | 187,268 | ||||||
Aselsan Elektronik Sanayi Ve Ticaret AS |
56,955 | 91,393 | ||||||
BIM Birlesik Magazalar AS |
50,429 | 265,978 | ||||||
Borusan Yatirim ve Pazarlama AS |
1,125 | 28,004 | ||||||
Coca-Cola Icecek AS |
10,364 | 81,284 | ||||||
Eregli Demir ve Celik Fabrikalari TAS |
111,079 | 249,093 | ||||||
Ford Otomotiv Sanayi AS |
7,919 | 154,042 | ||||||
Hektas Ticaret TAS* |
74,210 | 69,125 | ||||||
Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS, Class D* |
193,146 | 163,467 | ||||||
KOC Holding AS |
42,999 | 98,162 | ||||||
Koza Altin Isletmeleri AS* |
12,502 | 103,284 | ||||||
Koza Anadolu Metal Madencilik Isletmeleri AS* |
43,737 | 61,915 | ||||||
Nuh Cimento Sanayi AS |
8,708 | 26,389 | ||||||
Petkim Petrokimya Holding AS* |
86,251 | 48,230 | ||||||
Sasa Polyester Sanayi AS* |
26,646 | 89,322 | ||||||
Tekfen Holding AS* |
38,854 | 51,863 | ||||||
Tofas Turk Otomobil Fabrikasi AS |
23,809 | 137,944 |
See Notes to Financial Statements. | 22 |
DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
Turkey (Continued) | ||||||||
Turk Hava Yollari AO* |
94,017 | $ | 173,793 | |||||
Turk Telekomunikasyon AS |
75,480 | 47,163 | ||||||
Turkcell Iletisim Hizmetleri AS |
106,169 | 157,189 | ||||||
Turkiye Garanti Bankasi AS |
353,514 | 282,614 | ||||||
Turkiye Halk Bankasi AS* |
110,660 | 34,971 | ||||||
Turkiye Is Bankasi AS, Class C |
293,877 | 168,782 | ||||||
Turkiye Sise ve Cam Fabrikalari AS |
239,100 | 213,574 | ||||||
Turkiye Vakiflar Bankasi TAO, Class D* |
265,430 | 63,965 | ||||||
Ulker Biskuvi Sanayi AS |
33,629 | 36,032 | ||||||
Yapi ve Kredi Bankasi AS |
500,739 | 129,343 | ||||||
|
|
|||||||
(Cost $4,102,487) |
3,563,102 | |||||||
|
|
|||||||
United Arab Emirates — 1.5% | ||||||||
Abu Dhabi Commercial Bank PJSC |
240,766 | 705,311 | ||||||
Aldar Properties PJSC |
369,014 | 421,954 | ||||||
Dubai Islamic Bank PJSC |
248,716 | 412,377 | ||||||
Emaar Properties PJSC |
329,761 | 456,075 | ||||||
Emirates NBD Bank PJSC |
225,301 | 877,147 | ||||||
Emirates Telecommunications Group Co. PJSC |
306,243 | 2,916,481 | ||||||
First Abu Dhabi Bank PJSC |
389,683 | 2,193,993 | ||||||
International Holding Co. PJSC* |
56,905 | 2,915,702 | ||||||
|
|
|||||||
(Cost $9,208,114) |
10,899,040 | |||||||
|
|
|||||||
TOTAL
COMMON STOCKS |
714,950,667 | |||||||
|
|
|||||||
PREFERRED STOCKS — 2.0% | ||||||||
Brazil — 1.2% | ||||||||
Alpargatas SA |
24,232 | 121,026 | ||||||
Banco Bradesco SA |
710,043 | 2,804,778 | ||||||
Bradespar SA |
32,120 | 187,793 | ||||||
Braskem SA, Class A |
15,630 | 144,811 | ||||||
Centrais Eletricas Brasileiras SA, Class B |
29,333 | 195,925 | ||||||
Gerdau SA |
108,674 | 537,073 | ||||||
Itau Unibanco Holding SA |
745,653 | 3,686,508 | ||||||
Itausa SA |
399,759 | 777,527 | ||||||
Usinas Siderurgicas de Minas Gerais SA Usiminas, Class A |
66,272 | 189,231 | ||||||
|
|
|||||||
(Cost $9,202,305) |
8,644,672 | |||||||
|
|
|||||||
Chile — 0.1% | ||||||||
Embotelladora Andina SA, Class B |
52,242 | 114,304 | ||||||
Sociedad Quimica y Minera de Chile SA, Class B |
12,583 | 839,078 | ||||||
|
|
|||||||
(Cost $788,684) |
953,382 | |||||||
|
|
|||||||
Colombia — 0.1% | ||||||||
Bancolombia SA |
73,115 | 652,410 | ||||||
Grupo Aval Acciones y Valores SA |
122,160 | 33,202 | ||||||
|
|
|||||||
(Cost $638,818) |
685,612 | |||||||
|
|
|||||||
Russia — 0.0% | ||||||||
Sberbank
of Russia PJSC (b) |
71,636 | 41,360 | ||||||
|
|
|||||||
South Korea — 0.6% | ||||||||
Hyundai Motor Co. |
1,865 | 135,724 | ||||||
Hyundai Motor Co.—2nd Preferred |
3,278 | 240,462 |
Number |
Value |
|||||||
South Korea (Continued) | ||||||||
LG Chem Ltd. |
290 | $ | 65,243 | |||||
LG Electronics, Inc. |
2,796 | 138,596 | ||||||
Samsung Electronics Co. Ltd. |
72,605 | 3,991,509 | ||||||
|
|
|||||||
(Cost $5,050,729) |
4,571,534 | |||||||
|
|
|||||||
TOTAL
PREFERRED STOCKS |
14,896,560 | |||||||
|
|
|||||||
Principal |
||||||||
CORPORATE BONDS — 0.0% | ||||||||
India — 0.0% | ||||||||
Britannia
Industries Ltd. Series N3, 5.50%, 6/3/24 |
INR | 2,494 | 33 | |||||
|
|
|||||||
Number |
||||||||
RIGHTS — 0.0% | ||||||||
Brazil — 0.0% | ||||||||
Americanas
SA*, expires 3/9/22 |
1,749 | 2,299 | ||||||
|
|
|||||||
South Korea — 0.0% | ||||||||
Samsung
Biologics Co. Ltd.*, expires 5/9/22 |
76 | 8,849 | ||||||
|
|
|||||||
TOTAL
RIGHTS |
11,148 | |||||||
|
|
|||||||
WARRANTS — 0.0% | ||||||||
Switzerland — 0.0% | ||||||||
Cie
Financiere Richemont SA*, expires 11/22/23 |
746 | 659 | ||||||
|
|
|||||||
Thailand — 0.0% | ||||||||
BTS Group Holdings PCL*, expires 9/5/22 |
200 | 4 | ||||||
BTS Group Holdings PCL*, expires 11/7/24 |
400 | 8 | ||||||
BTS Group Holdings PCL*, expires 11/20/26 |
800 | 14 | ||||||
Minor International PCL*, expires 2/15/24 |
52 | 5 | ||||||
|
|
|||||||
(Cost $0) |
31 | |||||||
|
|
|||||||
TOTAL
WARRANTS |
690 | |||||||
|
|
|||||||
SECURITIES LENDING COLLATERAL — 0.3% | ||||||||
DWS
Government & Agency Securities Portfolio “DWS Government Cash
Institutional Shares”, 0.01% (c)(d) |
1,966,294 | 1,966,294 | ||||||
|
|
See Notes to Financial Statements. | 23 |
DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
CASH EQUIVALENTS — 0.1% | ||||||||
DWS
Government Money Market Series “Institutional Shares”, 0.04% (c) |
406,136 | $ | 406,136 | |||||
|
|
|||||||
TOTAL INVESTMENTS — 100.2% (Cost $777,433,670) |
$ | 732,231,528 | ||||||
Other assets and liabilities, net — (0.2%) |
(1,098,007 | ) | ||||||
|
|
|||||||
NET ASSETS — 100.0% |
$ | 731,133,521 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2022 is as follows:
Value ($) at 8/31/2021 |
Purchases Cost ($) |
Sales Proceeds ($) |
Net Realized Gain/(Loss) ($) |
Net Change in Unrealized Appreciation (Depreciation) ($) |
Income ($) | Capital Gain Distributions ($) |
Number of Shares at 2/28/2022 |
Value ($) at 2/28/2022 |
||||||||||||||||||||||||||||
EXCHANGE-TRADED FUNDS — 0.0% |
| |||||||||||||||||||||||||||||||||||
Xtrackers MSCI EAFE ESG Leaders Equity ETF (e) |
| |||||||||||||||||||||||||||||||||||
3,087 | — | (3,141 | ) | 297 | (243 | ) | — | — | — | — | ||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 0.3% |
| |||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (c)(d) |
| |||||||||||||||||||||||||||||||||||
1,768,050 | 198,244 | (f) | — | — | — | 146 | — | 1,966,294 | 1,966,294 | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.1% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (c) |
| |||||||||||||||||||||||||||||||||||
3,753,775 | 17,973,920 | (21,321,559 | ) | — | — | 101 | — | 406,136 | 406,136 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
5,524,912 | 18,172,164 | (21,324,700 | ) | 297 | (243 | ) | 247 | — | 2,372,430 | 2,372,430 | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
Non-income producing security. |
(a) |
All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2022 amounted to $5,743,295, which is 0.8% of net assets. |
(b) |
Investment was valued using significant unobservable inputs. |
(c) |
Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
(d) |
Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund held non-cash U.S. Treasury securities collateral having a value of $4,447,594. |
(e) |
Affiliated fund advised by DBX Advisors LLC. |
(f) |
Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2022. |
ADR: | American Depositary Receipt |
CPO: | Ordinary Participation Certificates |
GDR: | Global Depositary Receipt |
JSC: | Joint Stock Company |
KSC: | Kuwait Shareholding Company |
KSCP: | Kuwait Shareholding Company Public |
NVDR: | Non Voting Depositary Receipt |
PJSC: | Public Joint Stock Company |
PSQC: | Public Shareholders Qatari Company |
QPSC: | Qatari Public Shareholders Company |
QSC: | Qatari Shareholders Company |
REIT: | Real Estate Investment Trust |
SAE: | Societe Anonyme Egyptienne |
SAQ: | Societe Anonyme Qatar |
144A: | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
See Notes to Financial Statements. | 24 |
DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
February 28, 2022 (Unaudited)
Securities are listed in country of domicile.
At February 28, 2022, open futures contracts purchased were as follows:
Contract Description |
Currency | Number of Contracts |
Notional Amount |
Contract Value |
Expiration Date |
Unrealized Depreciation |
||||||||||||||||||
MSCI Emerging Markets Index Future |
USD | 12 | $ | 730,580 | $ | 705,300 | 3/18/2022 | $ | (25,280 | ) |
For information on the Fund’s policy and additional disclosures regarding open futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
Currency Abbreviations
INR | Indian Rupee |
USD | U.S. Dollar |
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2022 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 (g) |
$ | 713,077,277 | $ | — | $ | 1,873,390 | $ | 714,950,667 | ||||||||
Preferred Stocks (g) |
14,855,200 | — | 41,360 | 14,896,560 | ||||||||||||
Corporate Bonds |
— | 33 | — | 33 | ||||||||||||
Rights (g) |
— | 11,148 | — | 11,148 | ||||||||||||
Warrants (g) |
690 | — | — | 690 | ||||||||||||
Short-Term Investments (g) |
2,372,430 | — | — | 2,372,430 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
TOTAL |
$ | 730,305,597 | $ | 11,181 | $ | 1,914,750 | $ | 732,231,528 | ||||||||
|
|
|
|
|
|
|
|
Liabilities |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Derivatives (h) |
||||||||||||||||
Futures Contracts |
$ | (25,280 | ) | $ | — | $ | — | $ | (25,280 | ) | ||||||
|
|
|
|
|
|
|
|
|||||||||
TOTAL |
$ | (25,280 | ) | $ | — | $ | — | $ | (25,280 | ) | ||||||
|
|
|
|
|
|
|
|
(g) | See Schedule of Investments for additional detailed categorizations. |
(h) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
During the period ended February 28, 2022, the amount of transfers from Level 1 to Level 3 was $7,043,013 and between Level 3 and Level 1 was $31. The investments were transferred from Level 1 to Level 3 due to the lack of observable market data due to a decrease in market activity. The investment was transferred from Level 3 to Level 1 due to the availability of a pricing source supported by observable inputs.
See Notes to Financial Statements. | 25 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI EAFE ESG Leaders Equity ETF
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
COMMON STOCKS — 99.4% | ||||||||
Australia — 6.7% | ||||||||
APA Group (a) |
4,033 | $ | 29,412 | |||||
Aristocrat Leisure Ltd. |
2,020 | 54,631 | ||||||
ASX Ltd. |
625 | 37,339 | ||||||
Aurizon Holdings Ltd. |
6,131 | 15,571 | ||||||
Australia & New Zealand Banking Group Ltd. |
9,594 | 181,079 | ||||||
BlueScope Steel Ltd. |
1,558 | 22,883 | ||||||
Brambles Ltd. |
4,896 | 35,172 | ||||||
Cochlear Ltd. |
220 | 35,584 | ||||||
Coles Group Ltd. |
4,627 | 58,355 | ||||||
Commonwealth Bank of Australia |
5,691 | 385,959 | ||||||
Computershare Ltd. |
1,626 | 25,557 | ||||||
Dexus REIT |
3,649 | 28,915 | ||||||
Evolution Mining Ltd. |
6,105 | 18,916 | ||||||
Fortescue Metals Group Ltd. |
5,721 | 75,349 | ||||||
Goodman Group REIT |
5,549 | 89,512 | ||||||
GPT Group REIT |
6,727 | 24,114 | ||||||
Insurance Australia Group Ltd. |
8,047 | 26,861 | ||||||
Lendlease Corp. Ltd. (a) |
2,255 | 17,280 | ||||||
Macquarie Group Ltd. |
1,140 | 149,549 | ||||||
Mineral Resources Ltd. |
566 | 18,585 | ||||||
Mirvac Group REIT |
13,165 | 24,743 | ||||||
Newcrest Mining Ltd. |
2,716 | 50,592 | ||||||
Northern Star Resources Ltd. |
3,565 | 26,671 | ||||||
Orica Ltd. |
1,258 | 13,319 | ||||||
QBE Insurance Group Ltd. |
4,939 | 41,180 | ||||||
Ramsay Health Care Ltd. |
663 | 30,776 | ||||||
REA Group Ltd. |
168 | 16,053 | ||||||
SEEK Ltd. |
1,093 | 21,153 | ||||||
Sonic Healthcare Ltd. |
1,472 | 37,439 | ||||||
Stockland REIT |
7,920 | 23,908 | ||||||
Telstra Corp. Ltd. |
14,038 | 40,339 | ||||||
Transurban Group (a) |
10,421 | 95,962 | ||||||
Vicinity Centres REIT |
12,090 | 15,792 | ||||||
Woodside Petroleum Ltd. (b) |
3,215 | 66,583 | ||||||
|
|
|||||||
(Cost $1,729,512) |
1,835,133 | |||||||
|
|
|||||||
Austria — 0.3% | ||||||||
Erste Group Bank AG |
1,180 | 42,399 | ||||||
OMV AG |
493 | 23,467 | ||||||
voestalpine AG |
360 | 11,904 | ||||||
|
|
|||||||
(Cost $79,597) |
77,770 | |||||||
|
|
|||||||
Belgium — 0.6% | ||||||||
Etablissements Franz Colruyt NV |
205 | 8,216 | ||||||
KBC Group NV |
845 | 61,236 | ||||||
Solvay SA |
235 | 26,321 | ||||||
UCB SA |
417 | 45,760 | ||||||
Umicore SA |
654 | 26,952 | ||||||
|
|
|||||||
(Cost $174,288) |
168,485 | |||||||
|
|
|||||||
Chile — 0.1% | ||||||||
Antofagasta
PLC |
1,336 | 27,265 | ||||||
|
|
|||||||
Denmark — 4.0% | ||||||||
Ambu A/S, Class B |
562 | 10,421 |
Number |
Value |
|||||||
Denmark (Continued) | ||||||||
Chr Hansen Holding A/S |
343 | $ | 25,099 | |||||
Coloplast A/S, Class B |
399 | 60,140 | ||||||
Demant A/S* |
336 | 14,201 | ||||||
Genmab A/S* |
222 | 74,754 | ||||||
GN Store Nord AS |
429 | 22,705 | ||||||
Novo Nordisk A/S, Class B |
5,614 | 578,223 | ||||||
Novozymes A/S, Class B |
675 | 44,357 | ||||||
Orsted AS, 144A |
637 | 82,836 | ||||||
Pandora A/S |
340 | 35,198 | ||||||
Tryg A/S |
1,100 | 25,014 | ||||||
Vestas Wind Systems A/S |
3,402 | 111,730 | ||||||
|
|
|||||||
(Cost $854,787) |
1,084,678 | |||||||
|
|
|||||||
Finland — 1.3% | ||||||||
Elisa OYJ |
470 | 26,157 | ||||||
Kesko OYJ, Class B |
930 | 27,514 | ||||||
Neste OYJ (b) |
1,431 | 56,545 | ||||||
Nordea Bank Abp |
10,657 | 119,327 | ||||||
Orion OYJ, Class B |
324 | 15,281 | ||||||
Stora Enso OYJ, Class R |
1,910 | 36,835 | ||||||
UPM-Kymmene OYJ |
1,794 | 62,466 | ||||||
Wartsila OYJ Abp |
1,494 | 16,898 | ||||||
|
|
|||||||
(Cost $368,907) |
361,023 | |||||||
|
|
|||||||
France — 10.6% | ||||||||
Accor SA* |
585 | 20,100 | ||||||
Air Liquide SA |
1,582 | 264,225 | ||||||
Alstom SA |
1,073 | 27,599 | ||||||
Amundi SA, 144A |
220 | 15,419 | ||||||
AXA SA |
6,382 | 174,010 | ||||||
BNP Paribas SA |
3,725 | 219,698 | ||||||
Bouygues SA |
750 | 26,974 | ||||||
Bureau Veritas SA |
966 | 27,841 | ||||||
Carrefour SA |
2,079 | 41,799 | ||||||
Cie Generale des Etablissements Michelin SCA |
563 | 78,413 | ||||||
CNP Assurances |
603 | 14,745 | ||||||
Covivio REIT |
184 | 15,178 | ||||||
Danone SA |
2,167 | 132,189 | ||||||
Eiffage SA |
304 | 31,181 | ||||||
EssilorLuxottica SA |
957 | 168,459 | ||||||
Eurazeo SE |
126 | 9,800 | ||||||
Gecina SA REIT |
145 | 18,485 | ||||||
Kering SA |
248 | 177,466 | ||||||
Klepierre SA REIT* |
677 | 19,512 | ||||||
L’Oreal SA |
842 | 335,736 | ||||||
Orange SA |
6,446 | 78,295 | ||||||
Publicis Groupe SA |
753 | 50,442 | ||||||
Schneider Electric SE |
1,797 | 282,131 | ||||||
SEB SA |
88 | 12,919 | ||||||
Societe Generale SA |
2,730 | 78,621 | ||||||
Teleperformance |
202 | 75,304 | ||||||
TotalEnergies SE |
8,368 | 428,498 | ||||||
Unibail-Rodamco-Westfield REIT* (b) |
430 | 32,784 | ||||||
Valeo |
698 | 15,511 | ||||||
Vivendi SE |
2,626 | 33,359 | ||||||
Wendel SE |
93 | 9,511 | ||||||
|
|
|||||||
(Cost $2,867,080) |
2,916,204 | |||||||
|
|
See Notes to Financial Statements. | 26 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI EAFE ESG Leaders Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
Germany — 7.6% | ||||||||
adidas AG |
636 | $ | 151,479 | |||||
Allianz SE |
1,359 | 310,323 | ||||||
BASF SE |
3,098 | 206,171 | ||||||
Bayerische Motoren Werke AG |
1,136 | 110,447 | ||||||
Beiersdorf AG |
337 | 34,226 | ||||||
Brenntag SE |
510 | 42,894 | ||||||
Commerzbank AG* |
3,532 | 29,888 | ||||||
Delivery Hero SE, 144A* |
524 | 28,139 | ||||||
Deutsche Boerse AG |
623 | 106,852 | ||||||
Deutsche Post AG |
3,333 | 169,062 | ||||||
HeidelbergCement AG |
500 | 32,651 | ||||||
HelloFresh SE* |
532 | 29,208 | ||||||
Henkel AG & Co. KGaA |
361 | 27,816 | ||||||
LANXESS AG |
278 | 13,608 | ||||||
LEG Immobilien SE |
241 | 31,211 | ||||||
Merck KGaA |
435 | 86,749 | ||||||
MTU Aero Engines AG |
184 | 44,682 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen |
464 | 128,806 | ||||||
Puma SE |
372 | 34,254 | ||||||
SAP SE |
3,477 | 395,692 | ||||||
Symrise AG |
433 | 51,796 | ||||||
Telefonica Deutschland Holding AG |
3,675 | 10,092 | ||||||
|
|
|||||||
(Cost $2,261,570) |
2,076,046 | |||||||
|
|
|||||||
Hong Kong — 1.6% | ||||||||
BOC Hong Kong Holdings Ltd. |
12,506 | 44,975 | ||||||
CK Infrastructure Holdings Ltd. |
2,208 | 13,705 | ||||||
ESR Cayman Ltd., 144A* |
5,977 | 18,473 | ||||||
Hang Seng Bank Ltd. |
2,533 | 46,746 | ||||||
HKT Trust & HKT Ltd. (a) |
10,579 | 14,270 | ||||||
Hong Kong & China Gas Co. Ltd. |
37,254 | 56,355 | ||||||
Hong Kong Exchanges & Clearing Ltd. |
4,024 | 194,462 | ||||||
MTR Corp. Ltd. |
5,143 | 26,624 | ||||||
Swire Pacific Ltd., Class A |
1,373 | 7,591 | ||||||
Swire Properties Ltd. |
3,092 | 8,033 | ||||||
|
|
|||||||
(Cost $429,012) |
431,234 | |||||||
|
|
|||||||
Ireland — 1.1% | ||||||||
CRH PLC |
2,589 | 118,092 | ||||||
DCC PLC |
317 | 24,924 | ||||||
James Hardie Industries PLC CDI |
1,483 | 48,050 | ||||||
Kerry Group PLC, Class A |
545 | 65,010 | ||||||
Kingspan Group PLC |
525 | 51,208 | ||||||
|
|
|||||||
(Cost $288,074) |
307,284 | |||||||
|
|
|||||||
Israel — 0.4% | ||||||||
Bank Hapoalim BM |
3,853 | 40,736 | ||||||
Bank Leumi Le-Israel BM |
5,024 | 54,355 | ||||||
CyberArk Software Ltd.* |
126 | 21,438 | ||||||
|
|
|||||||
(Cost $89,674) |
116,529 | |||||||
|
|
|||||||
Italy — 1.6% | ||||||||
Amplifon SpA |
409 | 17,663 | ||||||
Assicurazioni Generali SpA |
3,724 | 74,161 | ||||||
Enel SpA |
26,908 | 199,442 | ||||||
Intesa Sanpaolo SpA |
54,584 | 140,612 | ||||||
|
|
|||||||
(Cost $445,303) |
431,878 | |||||||
|
|
Number |
Value |
|||||||
Japan — 24.1% | ||||||||
Aeon Co. Ltd. |
2,100 | $ | 47,361 | |||||
Ajinomoto Co., Inc. |
1,700 | 49,284 | ||||||
ANA Holdings, Inc.* |
300 | 6,581 | ||||||
Asahi Kasei Corp. |
4,200 | 39,292 | ||||||
Astellas Pharma, Inc. |
6,000 | 99,944 | ||||||
Azbil Corp. |
300 | 11,278 | ||||||
Bridgestone Corp. |
1,900 | 77,947 | ||||||
Capcom Co. Ltd. |
600 | 14,456 | ||||||
Central Japan Railway Co. |
510 | 68,590 | ||||||
Chugai Pharmaceutical Co. Ltd. |
2,098 | 69,220 | ||||||
CyberAgent, Inc. |
1,512 | 19,508 | ||||||
Dai Nippon Printing Co. Ltd. |
765 | 19,840 | ||||||
Daifuku Co. Ltd. |
316 | 22,663 | ||||||
Dai-ichi Life Holdings, Inc. |
3,400 | 71,085 | ||||||
Daikin Industries Ltd. |
824 | 151,708 | ||||||
Daiwa House Industry Co. Ltd. |
1,900 | 53,928 | ||||||
Denso Corp. |
1,460 | 102,007 | ||||||
East Japan Railway Co. |
1,029 | 60,842 | ||||||
Eisai Co. Ltd. |
758 | 37,632 | ||||||
ENEOS Holdings, Inc. |
10,600 | 41,765 | ||||||
Fast Retailing Co. Ltd. |
198 | 106,293 | ||||||
FUJIFILM Holdings Corp. |
1,250 | 78,815 | ||||||
Fujitsu Ltd. |
659 | 94,780 | ||||||
Hankyu Hanshin Holdings, Inc. |
800 | 23,859 | ||||||
Hikari Tsushin, Inc. |
40 | 4,932 | ||||||
Hirose Electric Co. Ltd. |
80 | 11,912 | ||||||
Hitachi Construction Machinery Co. Ltd. |
200 | 4,867 | ||||||
Hitachi Metals Ltd.* |
700 | 12,441 | ||||||
Hoshizaki Corp. |
200 | 13,857 | ||||||
Hoya Corp. |
1,250 | 161,222 | ||||||
Hulic Co. Ltd. |
1,500 | 13,636 | ||||||
Ibiden Co. Ltd. |
400 | 19,171 | ||||||
Inpex Corp. |
3,400 | 34,982 | ||||||
Isuzu Motors Ltd. |
1,900 | 25,685 | ||||||
ITOCHU Corp. |
3,900 | 126,744 | ||||||
JFE Holdings, Inc. |
1,600 | 23,894 | ||||||
JSR Corp. |
700 | 21,819 | ||||||
Kajima Corp. |
1,600 | 21,449 | ||||||
Kansai Paint Co. Ltd. |
600 | 11,977 | ||||||
Kao Corp. |
1,684 | 78,662 | ||||||
KDDI Corp. |
5,400 | 176,101 | ||||||
Keio Corp. |
239 | 9,753 | ||||||
Kikkoman Corp. |
500 | 37,074 | ||||||
Kobayashi Pharmaceutical Co. Ltd. |
180 | 15,347 | ||||||
Komatsu Ltd. |
2,900 | 66,536 | ||||||
Kubota Corp. |
3,600 | 64,452 | ||||||
Kurita Water Industries Ltd. |
300 | 12,242 | ||||||
Kyowa Kirin Co. Ltd. |
1,000 | 25,648 | ||||||
Lawson, Inc. |
100 | 4,168 | ||||||
Lixil Corp. |
900 | 19,965 | ||||||
Marubeni Corp. |
5,400 | 56,426 | ||||||
Mazda Motor Corp.* |
2,000 | 14,864 | ||||||
Mercari, Inc.* |
250 | 7,706 | ||||||
Mitsubishi Chemical Holdings Corp. |
4,100 | 29,098 | ||||||
Mitsubishi Estate Co. Ltd. |
3,900 | 59,495 | ||||||
Mitsui Chemicals, Inc. |
500 | 12,755 | ||||||
Mitsui Fudosan Co. Ltd. |
3,300 | 73,263 |
See Notes to Financial Statements. | 27 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI EAFE ESG Leaders Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
Japan (Continued) | ||||||||
Miura Co. Ltd. |
200 | $ | 5,444 | |||||
Mizuho Financial Group, Inc. |
7,890 | 104,469 | ||||||
MS&AD Insurance Group Holdings, Inc. |
1,600 | 54,248 | ||||||
Murata Manufacturing Co. Ltd. |
1,900 | 128,459 | ||||||
NEC Corp. |
800 | 34,417 | ||||||
Nintendo Co. Ltd. |
374 | 188,404 | ||||||
Nippon Building Fund, Inc. REIT |
5 | 28,565 | ||||||
Nippon Express Holdings, Inc. |
250 | 15,151 | ||||||
Nippon Paint Holdings Co. Ltd. |
2,850 | 25,215 | ||||||
Nippon Steel Corp. |
2,800 | 51,259 | ||||||
Nippon Yusen KK |
470 | 43,542 | ||||||
Nissin Foods Holdings Co. Ltd. |
250 | 19,904 | ||||||
Nitori Holdings Co. Ltd. |
294 | 44,020 | ||||||
Nitto Denko Corp. |
450 | 32,624 | ||||||
Nomura Holdings, Inc. |
10,700 | 48,894 | ||||||
Nomura Real Estate Holdings, Inc. |
300 | 7,463 | ||||||
Nomura Real Estate Master Fund, Inc. REIT |
16 | 21,088 | ||||||
Nomura Research Institute Ltd. |
1,200 | 41,415 | ||||||
NTT Data Corp. |
2,200 | 41,507 | ||||||
Obayashi Corp. |
2,000 | 16,688 | ||||||
Odakyu Electric Railway Co. Ltd. |
1,000 | 16,445 | ||||||
Omron Corp. |
613 | 41,301 | ||||||
Oriental Land Co. Ltd. |
665 | 122,001 | ||||||
ORIX Corp. |
4,000 | 79,288 | ||||||
Orix JREIT, Inc. REIT (b) |
9 | 12,573 | ||||||
Osaka Gas Co. Ltd. |
1,500 | 27,467 | ||||||
Otsuka Corp. |
350 | 13,477 | ||||||
Pan Pacific International Holdings Corp. |
1,600 | 26,117 | ||||||
Panasonic Corp. |
7,500 | 77,491 | ||||||
Recruit Holdings Co. Ltd. |
4,500 | 188,283 | ||||||
Resona Holdings, Inc. |
6,800 | 30,571 | ||||||
Rohm Co. Ltd. |
290 | 22,737 | ||||||
SCSK Corp. |
300 | 5,100 | ||||||
Secom Co. Ltd. |
740 | 54,111 | ||||||
Sekisui Chemical Co. Ltd. |
1,300 | 21,231 | ||||||
Sekisui House Ltd. |
2,000 | 40,738 | ||||||
Seven & i Holdings Co. Ltd. |
2,500 | 121,359 | ||||||
SG Holdings Co. Ltd. |
1,100 | 23,227 | ||||||
Sharp Corp. |
1,100 | 10,343 | ||||||
Shimadzu Corp. |
840 | 29,939 | ||||||
Shimizu Corp. |
1,900 | 12,554 | ||||||
Shin-Etsu Chemical Co. Ltd. |
1,188 | 182,261 | ||||||
Shionogi & Co. Ltd. |
900 | 59,708 | ||||||
Shiseido Co. Ltd. |
1,350 | 76,962 | ||||||
SoftBank Corp. |
9,600 | 120,901 | ||||||
Sohgo Security Services Co. Ltd. |
200 | 7,189 | ||||||
Sompo Holdings, Inc. |
1,040 | 45,329 | ||||||
Sony Group Corp. |
4,205 | 431,179 | ||||||
Stanley Electric Co. Ltd. |
300 | 7,103 | ||||||
Sumitomo Chemical Co. Ltd. |
5,100 | 24,354 | ||||||
Sumitomo Metal Mining Co. Ltd. |
853 | 42,556 | ||||||
Sumitomo Mitsui Trust Holdings, Inc. |
1,100 | 39,253 | ||||||
Suntory Beverage & Food Ltd. |
300 | 11,982 | ||||||
Sysmex Corp. |
550 | 43,570 | ||||||
T&D Holdings, Inc. |
1,700 | 24,856 | ||||||
Taisei Corp. |
674 | 22,325 |
Number |
Value |
|||||||
Japan (Continued) | ||||||||
Takeda Pharmaceutical Co. Ltd. |
5,450 | $ | 165,665 | |||||
TDK Corp. |
1,325 | 52,919 | ||||||
Terumo Corp. |
2,050 | 66,017 | ||||||
Tobu Railway Co. Ltd. |
400 | 9,811 | ||||||
Tokyo Century Corp. |
100 | 4,376 | ||||||
Tokyo Electron Ltd. |
493 | 238,720 | ||||||
Tokyo Gas Co. Ltd. |
1,200 | 24,464 | ||||||
Tokyu Corp. |
1,800 | 23,943 | ||||||
Toray Industries, Inc. |
5,000 | 28,639 | ||||||
TOTO Ltd. |
400 | 16,792 | ||||||
Toyo Suisan Kaisha Ltd. |
250 | 10,506 | ||||||
Unicharm Corp. |
1,300 | 48,761 | ||||||
USS Co. Ltd. |
700 | 11,572 | ||||||
West Japan Railway Co. |
750 | 32,247 | ||||||
Yakult Honsha Co. Ltd. |
380 | 20,555 | ||||||
Yamaha Corp. |
419 | 19,499 | ||||||
Yamaha Motor Co. Ltd. |
1,000 | 22,366 | ||||||
Yaskawa Electric Corp. |
801 | 31,783 | ||||||
Yokogawa Electric Corp. |
1,100 | 17,621 | ||||||
Z Holdings Corp. |
9,100 | 44,056 | ||||||
ZOZO, Inc. |
300 | 8,465 | ||||||
|
|
|||||||
(Cost $6,300,000) |
6,608,255 | |||||||
|
|
|||||||
Luxembourg — 0.1% | ||||||||
Tenaris
SA |
1,664 | 21,568 | ||||||
|
|
|||||||
Netherlands — 6.5% | ||||||||
Aegon NV |
6,194 | 30,715 | ||||||
Akzo Nobel NV |
639 | 61,007 | ||||||
ASML Holding NV |
1,378 | 926,959 | ||||||
ING Groep NV |
13,148 | 155,033 | ||||||
JDE Peet’s NV |
248 | 8,155 | ||||||
Koninklijke Ahold Delhaize NV |
3,535 | 109,110 | ||||||
Koninklijke DSM NV |
582 | 109,364 | ||||||
Koninklijke KPN NV |
11,386 | 39,006 | ||||||
NN Group NV |
828 | 39,786 | ||||||
Prosus NV* |
3,135 | 195,147 | ||||||
Randstad NV |
394 | 26,862 | ||||||
Wolters Kluwer NV |
908 | 92,624 | ||||||
|
|
|||||||
(Cost $1,513,382) |
1,793,768 | |||||||
|
|
|||||||
New Zealand — 0.5% | ||||||||
Auckland International Airport Ltd.* |
4,253 | 20,493 | ||||||
Fisher & Paykel Healthcare Corp. Ltd. |
1,919 | 35,727 | ||||||
Mercury NZ Ltd. |
2,569 | 9,945 | ||||||
Meridian Energy Ltd. |
4,194 | 14,177 | ||||||
Ryman Healthcare Ltd. |
1,286 | 8,703 | ||||||
Spark New Zealand Ltd. |
6,110 | 18,628 | ||||||
Xero Ltd.* |
464 | 31,559 | ||||||
|
|
|||||||
(Cost $159,058) |
139,232 | |||||||
|
|
|||||||
Norway — 1.2% | ||||||||
Aker BP ASA |
374 | 11,632 | ||||||
DNB Bank ASA |
3,148 | 70,559 | ||||||
Equinor ASA |
3,284 | 103,987 | ||||||
Mowi ASA |
1,523 | 39,211 | ||||||
Norsk Hydro ASA |
4,448 | 42,266 |
See Notes to Financial Statements. | 28 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI EAFE ESG Leaders Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
Norway (Continued) | ||||||||
Orkla ASA |
2,451 | $ | 23,006 | |||||
Telenor ASA |
2,129 | 31,583 | ||||||
|
|
|||||||
(Cost $289,034) |
322,244 | |||||||
|
|
|||||||
Portugal — 0.1% | ||||||||
Galp Energia SGPS SA |
1,674 | 18,536 | ||||||
Jeronimo Martins SGPS SA |
862 | 18,807 | ||||||
|
|
|||||||
(Cost $39,233) |
37,343 | |||||||
|
|
|||||||
Singapore — 1.6% | ||||||||
CapitaLand Integrated Commercial Trust REIT |
16,865 | 26,215 | ||||||
Capitaland Investment Ltd.* |
9,200 | 25,008 | ||||||
City Developments Ltd. |
1,300 | 6,819 | ||||||
DBS Group Holdings Ltd. |
5,747 | 143,183 | ||||||
Keppel Corp. Ltd. |
5,400 | 23,828 | ||||||
Oversea-Chinese Banking Corp. Ltd. |
11,400 | 98,006 | ||||||
Singapore Airlines Ltd.* |
5,250 | 19,686 | ||||||
Singapore Exchange Ltd. |
3,100 | 21,330 | ||||||
Singapore Telecommunications Ltd. |
28,300 | 52,537 | ||||||
UOL Group Ltd. |
1,800 | 9,255 | ||||||
|
|
|||||||
(Cost $401,149) |
425,867 | |||||||
|
|
|||||||
Spain — 2.2% | ||||||||
Banco Bilbao Vizcaya Argentaria SA |
22,001 | 130,724 | ||||||
CaixaBank SA |
14,546 | 48,034 | ||||||
Iberdrola SA |
19,438 | 222,257 | ||||||
Industria de Diseno Textil SA |
3,608 | 95,639 | ||||||
Naturgy Energy Group SA |
657 | 17,733 | ||||||
Red Electrica Corp. SA (b) |
1,411 | 28,250 | ||||||
Repsol SA |
5,035 | 65,749 | ||||||
|
|
|||||||
(Cost $588,941) |
608,386 | |||||||
|
|
|||||||
Sweden — 3.2% | ||||||||
Alfa Laval AB |
1,074 | 35,276 | ||||||
Assa Abloy AB, Class B |
3,375 | 89,970 | ||||||
Atlas Copco AB, Class A |
2,286 | 119,747 | ||||||
Atlas Copco AB, Class B |
1,319 | 60,470 | ||||||
Boliden AB |
920 | 41,281 | ||||||
Electrolux AB, Class B (b) |
680 | 12,302 | ||||||
Essity AB, Class B |
2,075 | 53,798 | ||||||
Evolution AB, 144A |
577 | 67,297 | ||||||
H & M Hennes & Mauritz AB, Class B (b) |
2,495 | 42,418 | ||||||
Husqvarna AB, Class B |
1,413 | 17,134 | ||||||
Nibe Industrier AB, Class B |
4,781 | 43,017 | ||||||
Sandvik AB |
3,799 | 83,280 | ||||||
SKF AB, Class B |
1,266 | 23,581 | ||||||
Svenska Cellulosa AB SCA, Class B |
1,946 | 32,062 | ||||||
Tele2 AB, Class B |
1,697 | 22,610 | ||||||
Telefonaktiebolaget LM Ericsson, Class B |
9,819 | 91,446 | ||||||
Telia Co. AB |
8,786 | 32,875 | ||||||
|
|
|||||||
(Cost $920,164) |
868,564 | |||||||
|
|
|||||||
Switzerland — 9.8% | ||||||||
ABB Ltd. |
5,487 | 186,299 | ||||||
Adecco Group AG |
520 | 24,678 | ||||||
Chocoladefabriken Lindt & Spruengli AG Participation Certificates |
7 | 74,582 |
Number |
Value |
|||||||
Switzerland (Continued) | ||||||||
Cie Financiere Richemont SA |
1,738 | $ | 236,987 | |||||
Clariant AG* |
660 | 11,931 | ||||||
Coca-Cola HBC AG* |
697 | 17,806 | ||||||
Geberit AG |
124 | 81,284 | ||||||
Givaudan SA |
31 | 130,123 | ||||||
Kuehne + Nagel International AG |
183 | 50,146 | ||||||
Lonza Group AG |
249 | 172,993 | ||||||
Roche Holding AG |
2,346 | 894,597 | ||||||
SGS SA |
20 | 57,442 | ||||||
Sika AG |
475 | 158,428 | ||||||
Sonova Holding AG |
182 | 70,820 | ||||||
Straumann Holding AG |
33 | 52,497 | ||||||
Swiss Life Holding AG |
106 | 64,748 | ||||||
Swiss Re AG |
1,017 | 97,349 | ||||||
Swisscom AG |
86 | 51,612 | ||||||
Vifor Pharma AG |
165 | 28,982 | ||||||
Zurich Insurance Group AG |
509 | 233,903 | ||||||
|
|
|||||||
(Cost $2,297,964) |
2,697,207 | |||||||
|
|
|||||||
United Kingdom — 14.2% | ||||||||
abrdn PLC |
7,252 | 20,113 | ||||||
Ashtead Group PLC |
1,486 | 97,220 | ||||||
Associated British Foods PLC |
1,148 | 29,574 | ||||||
AstraZeneca PLC |
5,172 | 628,652 | ||||||
Barratt Developments PLC |
3,243 | 26,586 | ||||||
Berkeley Group Holdings PLC |
382 | 19,969 | ||||||
British Land Co. PLC REIT |
3,106 | 22,071 | ||||||
BT Group PLC (b) |
30,133 | 75,303 | ||||||
Burberry Group PLC |
1,336 | 34,776 | ||||||
CNH Industrial NV |
3,454 | 49,755 | ||||||
Coca-Cola Europacific Partners PLC |
697 | 35,693 | ||||||
Compass Group PLC |
5,990 | 136,148 | ||||||
Croda International PLC |
474 | 47,598 | ||||||
Ferguson PLC |
737 | 112,880 | ||||||
GlaxoSmithKline PLC |
16,798 | 348,314 | ||||||
Informa PLC* |
4,997 | 39,853 | ||||||
InterContinental Hotels Group PLC* |
584 | 41,028 | ||||||
Intertek Group PLC |
542 | 39,154 | ||||||
J Sainsbury PLC |
5,782 | 21,389 | ||||||
JD Sports Fashion PLC |
8,880 | 17,991 | ||||||
Johnson Matthey PLC |
641 | 16,195 | ||||||
Kingfisher PLC |
7,188 | 29,532 | ||||||
Land Securities Group PLC REIT |
2,344 | 24,978 | ||||||
Legal & General Group PLC |
20,154 | 74,959 | ||||||
Lloyds Banking Group PLC |
233,279 | 151,603 | ||||||
Mondi PLC |
1,603 | 33,800 | ||||||
National Grid PLC |
12,099 | 183,572 | ||||||
Next PLC |
456 | 41,984 | ||||||
Ocado Group PLC* |
1,680 | 30,949 | ||||||
Reckitt Benckiser Group PLC |
2,374 | 201,344 | ||||||
RELX PLC |
6,433 | 196,884 | ||||||
Rentokil Initial PLC |
6,216 | 42,352 | ||||||
Schroders PLC |
415 | 17,061 | ||||||
Segro PLC REIT |
3,889 | 67,913 | ||||||
Spirax-Sarco Engineering PLC |
247 | 39,587 | ||||||
St James’s Place PLC |
1,754 | 33,030 | ||||||
Standard Chartered PLC |
9,051 | 64,704 |
See Notes to Financial Statements. | 29 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI EAFE ESG Leaders Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
United Kingdom (Continued) | ||||||||
Taylor Wimpey PLC |
12,303 | $ | 24,803 | |||||
Tesco PLC |
26,101 | 101,474 | ||||||
Unilever PLC |
8,573 | 430,954 | ||||||
Vodafone Group PLC |
90,546 | 159,687 | ||||||
Whitbread PLC* |
644 | 25,266 | ||||||
WPP PLC |
3,901 | 55,351 | ||||||
|
|
|||||||
(Cost $3,793,894) |
3,892,049 | |||||||
|
|
|||||||
TOTAL
COMMON STOCKS |
27,248,012 | |||||||
|
|
|||||||
PREFERRED STOCKS — 0.2% |
|
|||||||
Germany — 0.2% | ||||||||
Bayerische Motoren Werke AG |
153 | 12,528 | ||||||
Henkel AG & Co. KGaA |
590 | 46,945 | ||||||
|
|
|||||||
(Cost $71,993) |
59,473 | |||||||
|
|
|||||||
WARRANTS — 0.0% |
|
|||||||
Switzerland — 0.0% | ||||||||
Cie
Financiere Richemont SA*, expires 11/22/23 |
1,880 | 1,660 | ||||||
|
|
Number |
Value |
|||||||
EXCHANGE-TRADED FUNDS — 0.1% | ||||||||
iShares
Trust iShares ESG Aware MSCI EAFE ETF |
450 | $ | 33,160 | |||||
|
|
|||||||
SECURITIES LENDING COLLATERAL — 0.3% | ||||||||
DWS
Government & Agency Securities Portfolio “DWS Government Cash
Institutional Shares”, 0.01% (c)(d) |
70,402 | 70,402 | ||||||
|
|
|||||||
TOTAL INVESTMENTS — 100.0% (Cost $26,114,667) |
$ | 27,412,707 | ||||||
Other assets and liabilities, net — 0.0% |
637 | |||||||
|
|
|||||||
NET ASSETS — 100.0% |
$ | 27,413,344 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2022 is as follows:
Value ($) at 8/31/2021 |
Purchases Cost ($) |
Sales Proceeds ($) |
Net Realized Gain/(Loss) ($) |
Net Change in Unrealized Appreciation (Depreciation) ($) |
Income ($) | Capital Gain Distributions ($) |
Number of Shares at 2/28/2022 |
Value ($) at 2/28/2022 |
||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 0.3% |
|
|||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (c)(d) |
| |||||||||||||||||||||||||||||||||||
61,137 | 9,265 | (e) | — | — | — | 7 | — | 70,402 | 70,402 | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.0% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series Institutional Shares, 0.04% (c) |
| |||||||||||||||||||||||||||||||||||
2,532 | 464,838 | (467,370 | ) | — | — | 2 | — | — | — | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
63,669 | 474,103 | (467,370 | ) | — | — | 9 | — | 70,402 | 70,402 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
Non-income producing security. |
(a) |
Stapled Security — A security contractually bound to one or more other securities to form a single saleable unit which cannot be sold separately. |
(b) |
All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2022 amounted to $234,309, which is 0.9% of net assets. |
(c) |
Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
(d) |
Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund held non-cash U.S. Treasury securities collateral having a value of $177,822. |
(e) |
Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2022. |
CDI: | Chess Depositary Interest |
REIT: | Real Estate Investment Trust |
144A: | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
Securities are listed in country of domicile.
See Notes to Financial Statements. | 30 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI EAFE ESG Leaders Equity ETF (Continued)
February 28, 2022 (Unaudited)
At February 28, 2022, open futures contracts purchased were as follows:
Contract Description |
Currency | Number of Contracts |
Notional Amount |
Contract Value |
Expiration Date |
Unrealized Depreciation |
||||||||||||
EURO STOXX 50 Futures |
EUR | 1 | $ | 46,799 | $ | 44,108 | 3/18/2022 | $ | (2,691 | ) | ||||||||
MINI TOPIX Index Futures |
JPY | 1 | 16,996 | 16,418 | 3/10/2022 | (578 | ) | |||||||||||
|
|
|||||||||||||||||
Total unrealized depreciation |
$ | (3,269 | ) | |||||||||||||||
|
|
For information on the Fund’s policy and additional disclosures regarding open futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
Currency Abbreviations
EUR | Euro |
JPY | Japanese Yen |
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2022 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 (f) |
$ | 27,248,012 | $ | — | $ | — | $ | 27,248,012 | ||||||||
Preferred Stocks |
59,473 | — | — | 59,473 | ||||||||||||
Warrants |
1,660 | — | — | 1,660 | ||||||||||||
Exchange-Traded Funds |
33,160 | — | — | 33,160 | ||||||||||||
Short-Term Investments (f) |
70,402 | — | — | 70,402 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
TOTAL |
$ | 27,412,707 | $ | — | $ | — | $ | 27,412,707 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Liabilities |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Derivatives (g) |
||||||||||||||||
Futures Contracts |
$ | (3,269 | ) | $ | — | $ | — | $ | (3,269 | ) | ||||||
|
|
|
|
|
|
|
|
|||||||||
TOTAL |
$ | (3,269 | ) | $ | — | $ | — | $ | (3,269 | ) | ||||||
|
|
|
|
|
|
|
|
(f) |
See Schedule of Investments for additional detailed categorizations. |
(g) |
Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
See Notes to Financial Statements. | 31 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
COMMON STOCKS — 98.9% | ||||||||
Brazil — 3.0% | ||||||||
Americanas SA |
3,677 | $ | 21,769 | |||||
Atacadao SA |
2,898 | 10,716 | ||||||
B3 SA — Brasil Bolsa Balcao |
35,700 | 101,036 | ||||||
Banco Bradesco SA |
8,606 | 28,499 | ||||||
Banco do Brasil SA |
4,973 | 33,989 | ||||||
Banco Santander Brasil SA |
2,490 | 14,954 | ||||||
CCR SA |
7,093 | 16,191 | ||||||
Cosan SA |
6,089 | 24,951 | ||||||
Energisa SA |
1,081 | 9,252 | ||||||
Equatorial Energia SA |
5,899 | 29,279 | ||||||
Hapvida Participacoes e Investimentos SA, 144A |
24,838 | 58,483 | ||||||
Hypera SA |
2,243 | 14,586 | ||||||
Klabin SA |
4,159 | 18,729 | ||||||
Localiza Rent a Car SA |
3,421 | 38,196 | ||||||
Lojas Renner SA |
5,783 | 28,423 | ||||||
Natura & Co. Holding SA* |
5,238 | 23,538 | ||||||
Petro Rio SA* |
4,069 | 20,394 | ||||||
Raia Drogasil SA |
6,099 | 27,655 | ||||||
Rede D’Or Sao Luiz SA, 144A |
2,342 | 23,185 | ||||||
Rumo SA* |
7,495 | 22,550 | ||||||
Telefonica Brasil SA |
3,023 | 29,440 | ||||||
TIM SA |
4,773 | 12,609 | ||||||
TOTVS SA |
2,982 | 19,131 | ||||||
Ultrapar Participacoes SA |
3,983 | 11,450 | ||||||
WEG SA |
9,663 | 55,145 | ||||||
|
|
|||||||
(Cost $751,750) |
694,150 | |||||||
|
|
|||||||
Chile — 0.2% | ||||||||
Empresas CMPC SA |
6,062 | 10,071 | ||||||
Empresas COPEC SA |
2,200 | 17,162 | ||||||
Enel Americas SA |
134,219 | 15,789 | ||||||
Falabella SA |
4,349 | 14,391 | ||||||
|
|
|||||||
(Cost $79,045) |
57,413 | |||||||
|
|
|||||||
China — 30.0% | ||||||||
360 Security Technology, Inc., Class A* |
2,700 | 4,476 | ||||||
3SBio, Inc., 144A* |
7,378 | 5,854 | ||||||
51job, Inc., ADR* |
189 | 9,790 | ||||||
AAC Technologies Holdings, Inc. (a) |
4,150 | 11,366 | ||||||
Air China Ltd., Class A* |
2,300 | 3,601 | ||||||
Air China Ltd., Class H* |
10,611 | 8,148 | ||||||
Alibaba Group Holding Ltd.* |
87,976 | 1,173,208 | ||||||
A-Living Smart City Services Co. Ltd., 144A |
3,103 | 5,568 | ||||||
Angel Yeast Co. Ltd., Class A |
200 | 1,582 | ||||||
Anjoy Foods Group Co. Ltd., Class A |
100 | 1,957 | ||||||
BBMG Corp., Class A |
2,500 | 1,141 | ||||||
Beijing Capital International Airport Co. Ltd., Class H* |
10,259 | 6,565 | ||||||
BYD Co. Ltd., Class A |
700 | 27,689 | ||||||
BYD Co. Ltd., Class H |
4,600 | 139,760 | ||||||
By-health Co. Ltd., Class A |
300 | 1,178 | ||||||
CanSino Biologics, Inc., Class A* |
26 | 1,041 | ||||||
CanSino Biologics, Inc., Class H, 144A* |
412 | 7,419 | ||||||
Changzhou Xingyu Automotive Lighting Systems Co. Ltd., Class A |
100 | 2,445 |
Number |
Value |
|||||||
China (Continued) | ||||||||
China Communications Services Corp. Ltd., Class H |
13,055 | $ | 7,168 | |||||
China Conch Venture Holdings Ltd. |
9,663 | 46,499 | ||||||
China Construction Bank Corp., Class A |
1,800 | 1,720 | ||||||
China Construction Bank Corp., Class H |
559,778 | 419,814 | ||||||
China Eastern Airlines Corp. Ltd., Class A* |
4,800 | 4,108 | ||||||
China Feihe Ltd., 144A |
20,878 | 24,903 | ||||||
China Jushi Co. Ltd., Class A |
1,028 | 2,778 | ||||||
China Lesso Group Holdings Ltd. |
7,105 | 10,893 | ||||||
China Medical System Holdings Ltd. |
7,570 | 13,428 | ||||||
China Merchants Bank Co. Ltd., Class H |
22,794 | 191,951 | ||||||
China Merchants Shekou Industrial Zone Holdings Co. Ltd., Class A |
2,100 | 4,509 | ||||||
China Molybdenum Co. Ltd., Class A |
6,200 | 5,905 | ||||||
China Molybdenum Co. Ltd., Class H |
19,482 | 11,669 | ||||||
China National Medicines Corp. Ltd., Class A |
200 | 882 | ||||||
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd., Class A |
400 | 2,270 | ||||||
China Southern Airlines Co. Ltd., Class A* |
4,200 | 4,613 | ||||||
China Southern Airlines Co. Ltd., Class H* |
9,335 | 5,890 | ||||||
China Three Gorges Renewables Group Co. Ltd., Class A |
9,900 | 11,186 | ||||||
China Tourism Group Duty Free Corp. Ltd., Class A |
700 | 22,464 | ||||||
China Vanke Co. Ltd., Class A |
3,300 | 10,041 | ||||||
China Vanke Co. Ltd., Class H |
9,662 | 22,901 | ||||||
CIFI Ever Sunshine Services Group Ltd. |
4,248 | 7,742 | ||||||
CIFI Holdings Group Co. Ltd. |
22,556 | 15,704 | ||||||
CITIC Ltd. |
33,884 | 39,505 | ||||||
Contemporary Amperex Technology Co. Ltd., Class A |
804 | 67,959 | ||||||
Country Garden Services Holdings Co. Ltd. |
11,680 | 69,808 | ||||||
CSPC Pharmaceutical Group Ltd. |
52,930 | 62,659 | ||||||
Dali Foods Group Co. Ltd., 144A |
13,444 | 7,071 | ||||||
Dongfeng Motor Group Co. Ltd., Class H |
16,051 | 13,784 | ||||||
ENN Energy Holdings Ltd. |
4,599 | 66,745 | ||||||
ENN Natural Gas Co. Ltd., Class A |
800 | 2,264 | ||||||
Eve Energy Co. Ltd., Class A |
680 | 9,645 | ||||||
Fosun International Ltd. |
14,939 | 16,194 | ||||||
Fuyao Glass Industry Group Co. Ltd., Class A |
600 | 4,184 | ||||||
Fuyao Glass Industry Group Co. Ltd., Class H, 144A |
3,632 | 17,756 | ||||||
Ganfeng Lithium Co. Ltd., Class A |
400 | 9,598 | ||||||
Ganfeng Lithium Co. Ltd., Class H, 144A |
1,518 | 25,547 | ||||||
GEM Co. Ltd., Class A |
1,200 | 1,818 | ||||||
Genscript Biotech Corp.* |
6,754 | 26,666 | ||||||
GoerTek, Inc., Class A |
1,300 | 9,020 | ||||||
Gotion High-tech Co. Ltd., Class A* |
500 | 3,414 | ||||||
Great Wall Motor Co. Ltd., Class A |
800 | 4,629 | ||||||
Great Wall Motor Co. Ltd., Class H |
17,720 | 36,875 | ||||||
Greenland Holdings Corp. Ltd., Class A |
3,460 | 2,369 | ||||||
Greentown Service Group Co. Ltd. |
8,419 | 8,436 | ||||||
Guangzhou Automobile Group Co. Ltd., Class H |
18,051 | 17,788 |
See Notes to Financial Statements. | 32 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
China (Continued) | ||||||||
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class A |
300 | $ | 1,416 | |||||
Guangzhou Kingmed Diagnostics Group Co. Ltd., Class A |
200 | 2,669 | ||||||
Guangzhou R&F Properties Co. Ltd., Class H (a) |
8,808 | 3,742 | ||||||
Hangzhou Robam Appliances Co. Ltd., Class A |
300 | 1,582 | ||||||
Hansoh Pharmaceutical Group Co. Ltd., 144A |
7,033 | 15,049 | ||||||
Huaxia Bank Co. Ltd., Class A |
5,100 | 4,550 | ||||||
Industrial Bank Co. Ltd., Class A |
7,300 | 25,533 | ||||||
Inner Mongolia Yili Industrial Group Co. Ltd., Class A |
2,100 | 13,152 | ||||||
Jafron Biomedical Co. Ltd., Class A |
200 | 1,450 | ||||||
JD.com, Inc., Class A* |
1,596 | 57,028 | ||||||
Jiangsu Zhongtian Technology Co. Ltd., Class A |
1,100 | 3,262 | ||||||
Jinke Properties Group Co. Ltd., Class A |
1,400 | 998 | ||||||
Jinxin Fertility Group Ltd., 144A* |
8,019 | 9,329 | ||||||
Kingdee International Software Group Co. Ltd.* |
15,162 | 37,218 | ||||||
Kuang-Chi Technologies Co.
Ltd., |
600 | 1,929 | ||||||
KWG Group Holdings Ltd. |
6,775 | 3,165 | ||||||
Lenovo Group Ltd. |
41,288 | 45,918 | ||||||
Li Auto, Inc., ADR* |
3,200 | 97,440 | ||||||
Li Ning Co. Ltd. |
13,035 | 129,538 | ||||||
Logan Group Co. Ltd. |
8,775 | 2,920 | ||||||
Longfor Group Holdings Ltd., 144A |
10,638 | 56,909 | ||||||
Meituan, Class B, 144A* |
23,785 | 524,179 | ||||||
Microport Scientific Corp. (a) |
3,764 | 10,405 | ||||||
Ming Yang Smart Energy Group Ltd., Class A |
600 | 2,444 | ||||||
Minth Group Ltd. |
4,482 | 16,118 | ||||||
NIO, Inc., ADR* |
7,613 | 173,881 | ||||||
Offshore Oil Engineering Co. Ltd., Class A |
100 | 78 | ||||||
Ovctek China, Inc., Class A |
340 | 2,209 | ||||||
Pharmaron Beijing Co. Ltd., Class A |
200 | 3,842 | ||||||
Pharmaron Beijing Co. Ltd., Class H, 144A |
802 | 9,689 | ||||||
Ping An Insurance Group Co. of China Ltd., Class A |
3,800 | 30,569 | ||||||
Ping An Insurance Group Co. of China Ltd., Class H |
36,915 | 285,353 | ||||||
Poly Developments and Holdings Group Co. Ltd., Class A |
4,100 | 10,279 | ||||||
Shandong Weigao Group Medical Polymer Co. Ltd., Class H |
15,336 | 21,119 | ||||||
Shanghai Electric Group Co. Ltd., Class A |
4,200 | 2,935 | ||||||
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class A |
600 | 4,032 | ||||||
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class H |
2,903 | 11,629 | ||||||
Shanghai M&G Stationery, Inc., Class A |
200 | 1,721 | ||||||
Shanghai Pharmaceuticals Holding Co. Ltd., Class A |
300 | 888 | ||||||
Shanghai Pharmaceuticals Holding Co. Ltd., Class H |
4,327 | 7,797 |
Number |
Value |
|||||||
China (Continued) | ||||||||
Shenzhen Inovance Technology Co. Ltd., Class A |
850 | $ | 8,575 | |||||
Shenzhen Overseas Chinese Town Co. Ltd., Class A |
1,900 | 2,078 | ||||||
Shenzhou International Group Holdings Ltd. |
4,814 | 80,894 | ||||||
Sinotrans Ltd., Class A |
1,400 | 952 | ||||||
Sinotruk Hong Kong Ltd. |
3,625 | 5,400 | ||||||
Skshu Paint Co. Ltd., Class A |
140 | 1,970 | ||||||
Sungrow Power Supply Co. Ltd., Class A |
500 | 9,596 | ||||||
Suning.com Co. Ltd., Class A* |
2,700 | 1,536 | ||||||
TCL Technology Group Corp., Class A |
3,700 | 3,260 | ||||||
Tencent Holdings Ltd. |
33,339 | 1,797,149 | ||||||
Tongcheng Travel Holdings Ltd.* |
5,137 | 9,533 | ||||||
Topchoice Medical Corp., Class A* |
100 | 2,556 | ||||||
Topsports International Holdings Ltd., 144A |
9,631 | 9,972 | ||||||
Uni-President China Holdings Ltd. |
8,468 | 8,778 | ||||||
Unisplendour Corp. Ltd., Class A |
1,040 | 3,624 | ||||||
Vipshop Holdings Ltd., ADR* |
2,610 | 22,629 | ||||||
Want Want China Holdings Ltd. |
27,733 | 29,494 | ||||||
Wuchan Zhongda Group Co. Ltd., Class A |
1,100 | 988 | ||||||
Wuhu Sanqi Interactive Entertainment Network Technology Group Co. Ltd., Class A |
700 | 2,311 | ||||||
WuXi AppTec Co. Ltd., Class A |
856 | 14,099 | ||||||
WuXi AppTec Co. Ltd., Class H, 144A |
2,102 | 29,807 | ||||||
Wuxi Biologics Cayman, Inc., 144A* |
21,018 | 172,825 | ||||||
Xinjiang Goldwind Science & Technology Co. Ltd., Class A |
1,700 | 4,028 | ||||||
Xinjiang Goldwind Science & Technology Co. Ltd., Class H |
4,238 | 6,910 | ||||||
Xinyi Solar Holdings Ltd. |
28,501 | 51,504 | ||||||
XPeng, Inc., ADR* (a) |
2,260 | 82,196 | ||||||
Yadea Group Holdings Ltd., 144A |
6,422 | 9,485 | ||||||
Yantai Jereh Oilfield Services Group Co. Ltd., Class A |
500 | 3,538 | ||||||
Yum China Holdings, Inc. |
2,484 | 129,218 | ||||||
Yunnan Baiyao Group Co. Ltd., Class A |
400 | 5,721 | ||||||
Zhejiang Chint Electrics Co. Ltd., Class A |
700 | 5,538 | ||||||
Zhejiang Expressway Co. Ltd., Class H |
9,035 | 8,140 | ||||||
Zhejiang Huayou Cobalt Co. Ltd., Class A |
500 | 9,757 | ||||||
Zhejiang Jiuzhou Pharmaceutical Co. Ltd., Class A |
300 | 2,275 | ||||||
Zhejiang Weixing New Building Materials Co. Ltd., Class A |
300 | 1,101 | ||||||
Zhongsheng Group Holdings Ltd. |
3,386 | 23,574 | ||||||
Zoomlion Heavy Industry Science and Technology Co. Ltd., Class A |
3,800 | 4,240 | ||||||
Zoomlion Heavy Industry Science and Technology Co. Ltd., Class H |
7,378 | 4,891 | ||||||
|
|
|||||||
(Cost $8,311,001) |
6,989,666 | |||||||
|
|
|||||||
Czech Republic — 0.1% | ||||||||
Komercni Banka AS |
446 | 17,574 | ||||||
Moneta Money Bank AS, 144A |
2,246 | 8,900 | ||||||
|
|
|||||||
(Cost $23,182) |
26,474 | |||||||
|
|
See Notes to Financial Statements. | 33 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
Egypt — 0.1% | ||||||||
Commercial
International Bank Egypt SAE* |
9,459 | $ | 28,786 | |||||
|
|
|||||||
Greece — 0.2% | ||||||||
Eurobank Ergasias Services and Holdings SA* |
15,249 | 16,720 | ||||||
Hellenic Telecommunications Organization SA |
1,350 | 26,991 | ||||||
Public Power Corp. SA* |
1,214 | 11,549 | ||||||
|
|
|||||||
(Cost $46,538) |
55,260 | |||||||
|
|
|||||||
Hong Kong — 2.0% | ||||||||
Alibaba
Health Information Technology |
22,634 | 15,758 | ||||||
Beijing Enterprises Water Group Ltd. |
24,465 | 9,643 | ||||||
China Education Group Holdings Ltd. |
4,512 | 3,846 | ||||||
China Everbright Environment Group Ltd. |
23,363 | 16,744 | ||||||
China Gas Holdings Ltd. |
17,781 | 28,127 | ||||||
China Jinmao Holdings Group Ltd. |
30,086 | 10,011 | ||||||
China Mengniu Dairy Co. Ltd.* |
18,469 | 119,956 | ||||||
China Overseas Land & Investment Ltd. |
22,471 | 68,589 | ||||||
China Resources Gas Group Ltd. |
5,350 | 24,546 | ||||||
China Ruyi Holdings Ltd.* (a) |
14,243 | 4,211 | ||||||
Geely Automobile Holdings Ltd. |
34,298 | 63,296 | ||||||
Hopson Development Holdings Ltd. (a) |
3,808 | 7,807 | ||||||
HUTCHMED China Ltd., ADR* (a) |
475 | 12,944 | ||||||
Jinmao Property Services Co. Ltd.* |
454 | 2 | ||||||
Kunlun Energy Co. Ltd. |
22,410 | 21,912 | ||||||
Lee & Man Paper Manufacturing Ltd. |
6,934 | 4,455 | ||||||
Shenzhen International Holdings Ltd. |
6,769 | 6,965 | ||||||
Shimao Group Holdings Ltd. (a) |
6,769 | 4,045 | ||||||
Sino Biopharmaceutical Ltd. |
60,940 | 38,840 | ||||||
Vinda International Holdings Ltd. |
1,753 | 4,992 | ||||||
|
|
|||||||
(Cost $573,716) |
466,689 | |||||||
|
|
|||||||
Hungary — 0.3% | ||||||||
MOL Hungarian Oil & Gas PLC |
2,437 | 19,137 | ||||||
OTP Bank Nyrt* |
1,283 | 49,596 | ||||||
|
|
|||||||
(Cost $83,233) |
68,733 | |||||||
|
|
|||||||
India — 12.5% | ||||||||
Adani Green Energy Ltd.* |
2,300 | 56,270 | ||||||
Adani Total Gas Ltd. |
1,602 | 33,774 | ||||||
Asian Paints Ltd. |
2,246 | 94,632 | ||||||
Axis Bank Ltd.* |
13,309 | 131,134 | ||||||
Bajaj Auto Ltd. |
416 | 19,491 | ||||||
Bandhan Bank Ltd., 144A |
3,700 | 15,041 | ||||||
Berger Paints India Ltd. |
1,366 | 12,517 | ||||||
Bharat Petroleum Corp. Ltd. |
5,249 | 24,368 | ||||||
Biocon Ltd.* |
2,358 | 10,917 | ||||||
Britannia Industries Ltd. |
620 | 28,203 | ||||||
Colgate-Palmolive India Ltd. |
699 | 13,455 | ||||||
Dabur India Ltd. |
3,533 | 26,415 | ||||||
DLF Ltd. |
3,477 | 16,186 | ||||||
Eicher Motors Ltd. |
797 | 27,394 | ||||||
Grasim Industries Ltd. |
1,551 | 32,905 | ||||||
Havells India Ltd. |
1,534 | 24,140 | ||||||
HCL Technologies Ltd. |
6,337 | 94,781 | ||||||
Hero MotoCorp Ltd. |
698 | 23,488 |
Number |
Value |
|||||||
India (Continued) | ||||||||
Hindalco Industries Ltd. |
9,242 | $ | 70,375 | |||||
Hindustan Unilever Ltd. |
4,810 | 138,662 | ||||||
Housing Development Finance Corp. Ltd. |
9,991 | 313,530 | ||||||
Indraprastha Gas Ltd. |
1,618 | 7,448 | ||||||
Info Edge India Ltd. |
457 | 27,016 | ||||||
Infosys Ltd. |
7,664 | 174,503 | ||||||
Infosys Ltd., ADR |
11,803 | 265,095 | ||||||
Lupin Ltd. |
1,359 | 13,452 | ||||||
Mahindra & Mahindra Ltd. |
5,115 | 53,687 | ||||||
Marico Ltd. |
3,008 | 20,548 | ||||||
Motherson Sumi Systems Ltd. |
7,494 | 14,964 | ||||||
Motherson Sumi Wiring India Ltd.* (b) |
7,494 | 3,461 | ||||||
Nestle India Ltd. |
197 | 46,118 | ||||||
PI Industries Ltd. |
496 | 16,249 | ||||||
Piramal Enterprises Ltd. |
649 | 17,832 | ||||||
Reliance Industries Ltd. |
16,604 | 519,964 | ||||||
Shree Cement Ltd. |
66 | 21,386 | ||||||
Siemens Ltd. |
397 | 12,369 | ||||||
State Bank of India |
10,487 | 67,253 | ||||||
Tata Consultancy Services Ltd. |
5,409 | 255,147 | ||||||
Titan Co. Ltd. |
2,089 | 70,603 | ||||||
Trent Ltd. |
1,086 | 15,971 | ||||||
UPL Ltd. |
2,836 | 25,047 | ||||||
Wipro Ltd., ADR |
542 | 3,951 | ||||||
Wipro Ltd. |
7,473 | 55,124 | ||||||
|
|
|||||||
(Cost $2,542,711) |
2,914,866 | |||||||
|
|
|||||||
Indonesia — 1.1% | ||||||||
Aneka Tambang Tbk |
48,806 | 7,542 | ||||||
PT Bank Central Asia Tbk |
321,082 | 179,906 | ||||||
PT Barito Pacific Tbk |
153,304 | 9,497 | ||||||
PT Indah Kiat Pulp & Paper Tbk |
15,986 | 8,985 | ||||||
PT Kalbe Farma Tbk |
128,844 | 14,752 | ||||||
PT Merdeka Copper Gold Tbk* |
67,303 | 18,129 | ||||||
PT Tower Bersama Infrastructure Tbk |
45,916 | 9,396 | ||||||
PT Unilever Indonesia Tbk |
46,118 | 11,813 | ||||||
|
|
|||||||
(Cost $220,989) |
260,020 | |||||||
|
|
|||||||
Kuwait — 0.4% | ||||||||
Kuwait
Finance House KSCP |
26,801 | 83,554 | ||||||
|
|
|||||||
Malaysia — 2.1% | ||||||||
AMMB Holdings Bhd* |
10,100 | 8,083 | ||||||
Axiata Group Bhd |
15,983 | 14,961 | ||||||
CIMB Group Holdings Bhd |
38,135 | 51,864 | ||||||
Dialog Group Bhd |
21,300 | 14,307 | ||||||
DiGi.Com Bhd |
18,900 | 18,232 | ||||||
Fraser & Neave Holdings Bhd |
700 | 3,768 | ||||||
HAP Seng Consolidated Bhd |
3,900 | 7,041 | ||||||
Hartalega Holdings Bhd |
11,100 | 12,214 | ||||||
IHH Healthcare Bhd |
9,900 | 15,492 | ||||||
Kuala Lumpur Kepong Bhd |
2,500 | 15,482 | ||||||
Malayan Banking Bhd |
27,775 | 57,951 | ||||||
Malaysia Airports Holdings Bhd* |
6,300 | 9,228 | ||||||
Maxis Bhd |
13,000 | 12,447 | ||||||
MISC Bhd |
7,700 | 13,480 | ||||||
Nestle Malaysia Bhd |
400 | 12,766 |
See Notes to Financial Statements. | 34 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
Malaysia (Continued) | ||||||||
Petronas Dagangan Bhd |
1,500 | $ | 7,688 | |||||
Petronas Gas Bhd |
4,900 | 20,307 | ||||||
PPB Group Bhd |
3,700 | 15,810 | ||||||
Press Metal Aluminium Holdings Bhd |
19,400 | 31,559 | ||||||
Public Bank Bhd |
85,875 | 91,019 | ||||||
QL Resources Bhd |
5,400 | 6,367 | ||||||
RHB Bank Bhd |
9,581 | 13,464 | ||||||
Sime Darby Bhd |
15,000 | 8,110 | ||||||
Telekom Malaysia Bhd |
6,100 | 7,352 | ||||||
Top Glove Corp. Bhd |
30,500 | 14,892 | ||||||
Westports Holdings Bhd |
5,900 | 5,495 | ||||||
|
|
|||||||
(Cost $484,482) |
489,379 | |||||||
|
|
|||||||
Mexico — 1.6% | ||||||||
Arca Continental SAB de CV |
2,584 | 17,088 | ||||||
Cemex SAB de CV, Series CPO* |
86,765 | 44,672 | ||||||
Coca-Cola Femsa SAB de CV |
3,171 | 17,456 | ||||||
Fomento Economico Mexicano SAB de CV |
11,272 | 91,042 | ||||||
Gruma SAB de CV, Class B |
1,368 | 18,597 | ||||||
Grupo Bimbo SAB de CV, Series A |
9,010 | 27,812 | ||||||
Grupo Financiero Banorte SAB de CV, Class O |
15,145 | 102,689 | ||||||
Grupo Televisa SAB, Series CPO |
13,892 | 29,848 | ||||||
Industrias Penoles SAB de CV |
807 | 10,096 | ||||||
Kimberly-Clark de Mexico SAB de CV, Class A |
9,258 | 13,022 | ||||||
Telesites SAB de CV |
8,024 | 8,918 | ||||||
|
|
|||||||
(Cost $377,816) |
381,240 | |||||||
|
|
|||||||
Philippines — 0.7% | ||||||||
Ayala Land, Inc. |
45,900 | 34,915 | ||||||
Bank of the Philippine Islands |
10,520 | 20,519 | ||||||
Globe Telecom, Inc. |
155 | 7,763 | ||||||
GT Capital Holdings, Inc. |
460 | 5,186 | ||||||
JG Summit Holdings, Inc. |
18,050 | 21,229 | ||||||
SM Investments Corp. |
1,472 | 25,610 | ||||||
SM Prime Holdings, Inc. |
59,000 | 45,801 | ||||||
Universal Robina Corp. |
5,630 | 13,177 | ||||||
|
|
|||||||
(Cost $170,288) |
174,200 | |||||||
|
|
|||||||
Poland — 0.9% | ||||||||
Bank Polska Kasa Opieki SA |
1,078 | 29,788 | ||||||
CD Projekt SA (a) |
411 | 16,544 | ||||||
Cyfrowy Polsat SA |
1,343 | 8,738 | ||||||
KGHM Polska Miedz SA |
809 | 32,004 | ||||||
Orange Polska SA* |
4,075 | 7,588 | ||||||
Polski Koncern Naftowy ORLEN SA |
1,764 | 29,963 | ||||||
Powszechna Kasa Oszczednosci Bank Polski SA* |
5,086 | 49,030 | ||||||
Powszechny Zaklad Ubezpieczen SA |
3,474 | 26,191 | ||||||
Santander Bank Polska SA |
216 | 16,249 | ||||||
|
|
|||||||
(Cost $233,252) |
216,095 | |||||||
|
|
|||||||
Qatar — 0.9% | ||||||||
Commercial Bank PSQC |
10,928 | 20,710 | ||||||
Ooredoo QPSC |
5,392 | 11,366 | ||||||
Qatar Fuel QSC |
2,741 | 14,002 |
Number |
Value |
|||||||
Qatar (Continued) | ||||||||
Qatar National Bank QPSC |
26,361 | $ | 157,833 | |||||
|
|
|||||||
(Cost $173,668) |
203,911 | |||||||
|
|
|||||||
Romania — 0.1% | ||||||||
NEPI
Rockcastle PLC |
2,485 | 15,728 | ||||||
|
|
|||||||
Russia — 0.9% | ||||||||
Gazprom PJSC (b) |
68,905 | 100,739 | ||||||
LUKOIL PJSC (b) |
2,408 | 43,021 | ||||||
LUKOIL PJSC, ADR |
1 | 19 | ||||||
Mobile TeleSystems PJSC, ADR (b) |
2,662 | 6,893 | ||||||
Moscow Exchange MICEX-RTS PJSC (b) |
8,602 | 3,754 | ||||||
Novatek PJSC, GDR |
530 | 20,331 | ||||||
Novolipetsk Steel PJSC (b) |
8,462 | 4,374 | ||||||
PhosAgro PJSC, GDR |
810 | 4,933 | ||||||
Polymetal International PLC (b) |
2,070 | 7,606 | ||||||
Polyus PJSC (b) |
193 | 13,807 | ||||||
|
|
|||||||
(Cost $684,406) |
205,477 | |||||||
|
|
|||||||
Saudi Arabia — 1.4% | ||||||||
Almarai Co. JSC |
1,512 | 20,191 | ||||||
Bank AlBilad* |
2,119 | 33,267 | ||||||
Dr Sulaiman Al Habib Medical Services Group Co. |
330 | 15,059 | ||||||
Saudi Arabian Mining Co.* |
2,496 | 71,054 | ||||||
Saudi Basic Industries Corp. |
5,244 | 174,162 | ||||||
Savola Group |
1,471 | 13,292 | ||||||
|
|
|||||||
(Cost $265,480) |
327,025 | |||||||
|
|
|||||||
Singapore — 0.0% | ||||||||
BOC
Aviation Ltd., 144A |
1,104 | 9,572 | ||||||
|
|
|||||||
South Africa — 5.5% | ||||||||
Absa Group Ltd. |
4,155 | 47,496 | ||||||
Anglo American Platinum Ltd. |
318 | 49,390 | ||||||
Aspen Pharmacare Holdings Ltd. |
2,300 | 29,917 | ||||||
Bid Corp. Ltd. |
1,945 | 39,322 | ||||||
Bidvest Group Ltd. |
1,612 | 21,952 | ||||||
Capitec Bank Holdings Ltd. |
476 | 63,898 | ||||||
Clicks Group Ltd. (a) |
1,428 | 27,627 | ||||||
Discovery Ltd.* |
2,537 | 25,908 | ||||||
FirstRand Ltd. |
29,393 | 125,770 | ||||||
Gold Fields Ltd. |
5,190 | 72,155 | ||||||
Growthpoint Properties Ltd. REIT |
21,251 | 18,428 | ||||||
Impala Platinum Holdings Ltd. |
4,758 | 90,501 | ||||||
Kumba Iron Ore Ltd. |
380 | 14,865 | ||||||
MTN Group Ltd.* |
9,817 | 121,724 | ||||||
MultiChoice Group |
2,198 | 17,925 | ||||||
Naspers Ltd., Class N |
1,267 | 158,121 | ||||||
Nedbank Group Ltd. |
2,663 | 37,671 | ||||||
Northam Platinum Holdings Ltd.* |
2,088 | 33,547 | ||||||
Old Mutual Ltd. |
27,029 | 22,039 | ||||||
Remgro Ltd. |
3,000 | 27,128 | ||||||
Sanlam Ltd. |
11,158 | 46,690 | ||||||
Shoprite Holdings Ltd. |
2,967 | 43,970 | ||||||
SPAR Group Ltd. |
1,072 | 11,383 | ||||||
Standard Bank Group Ltd. |
7,406 | 77,949 |
See Notes to Financial Statements. | 35 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
South Africa (Continued) | ||||||||
Vodacom Group Ltd. |
3,710 | $ | 35,536 | |||||
Woolworths Holdings Ltd. |
5,831 | 19,056 | ||||||
|
|
|||||||
(Cost $1,129,835) |
1,279,968 | |||||||
|
|
|||||||
South Korea — 6.4% | ||||||||
Amorepacific Corp. |
190 | 29,076 | ||||||
AMOREPACIFIC Group |
165 | 6,697 | ||||||
BGF retail Co. Ltd. |
43 | 6,062 | ||||||
Celltrion Healthcare Co. Ltd. |
498 | 26,301 | ||||||
CJ CheilJedang Corp. |
49 | 15,425 | ||||||
CJ Corp. |
94 | 6,575 | ||||||
CJ Logistics Corp.* |
47 | 4,847 | ||||||
Coway Co. Ltd. |
309 | 18,529 | ||||||
Doosan Bobcat, Inc. |
266 | 8,440 | ||||||
GS Engineering & Construction Corp. |
364 | 12,972 | ||||||
GS Holdings Corp. |
267 | 8,883 | ||||||
Hankook Tire & Technology Co. Ltd. |
426 | 12,472 | ||||||
Hanon Systems |
1,078 | 10,355 | ||||||
Hanwha Solutions Corp.* |
681 | 19,172 | ||||||
Hyundai Engineering & Construction Co. Ltd. |
461 | 16,602 | ||||||
Hyundai Glovis Co. Ltd. |
109 | 15,955 | ||||||
Hyundai Heavy Industries Holdings Co. Ltd. |
289 | 12,355 | ||||||
Kakao Corp. |
1,820 | 142,439 | ||||||
KB Financial Group, Inc. |
2,295 | 113,953 | ||||||
Korean Air Lines Co. Ltd.* |
1,008 | 24,564 | ||||||
LG Chem Ltd. |
266 | 124,997 | ||||||
LG Corp. |
494 | 30,897 | ||||||
LG Display Co. Ltd. |
1,328 | 20,654 | ||||||
LG Electronics, Inc. |
620 | 63,684 | ||||||
LG Household & Health Care Ltd. |
54 | 42,666 | ||||||
Lotte Chemical Corp. |
99 | 18,114 | ||||||
NAVER Corp. |
717 | 189,634 | ||||||
POSCO Chemical Co. Ltd. |
178 | 16,803 | ||||||
Samsung Electro-Mechanics Co. Ltd. |
327 | 45,147 | ||||||
Samsung Engineering Co. Ltd.* |
892 | 17,212 | ||||||
Samsung Fire & Marine Insurance Co. Ltd. |
179 | 28,361 | ||||||
Samsung SDI Co. Ltd. |
320 | 145,848 | ||||||
Samsung SDS Co. Ltd. |
202 | 23,521 | ||||||
Shinhan Financial Group Co. Ltd. |
2,533 | 82,267 | ||||||
SK Biopharmaceuticals Co. Ltd.* |
161 | 11,328 | ||||||
SK Innovation Co. Ltd.* |
295 | 49,193 | ||||||
SK Telecom Co. Ltd. |
142 | 6,448 | ||||||
SK, Inc. |
247 | 46,736 | ||||||
SKC Co. Ltd. |
124 | 14,181 | ||||||
Yuhan Corp. |
300 | 14,497 | ||||||
|
|
|||||||
(Cost $1,750,351) |
1,503,862 | |||||||
|
|
|||||||
Taiwan — 23.7% | ||||||||
Acer, Inc. |
16,926 | 17,388 | ||||||
ASE Technology Holding Co. Ltd. |
19,266 | 68,240 | ||||||
AU Optronics Corp. |
48,404 | 35,481 | ||||||
Cathay Financial Holding Co. Ltd. |
45,472 | 101,049 | ||||||
Chailease Holding Co. Ltd. |
7,736 | 69,261 | ||||||
Cheng Shin Rubber Industry Co. Ltd. |
10,798 | 13,712 | ||||||
China Steel Corp. |
68,627 | 88,125 |
Number |
Value |
|||||||
Taiwan (Continued) | ||||||||
Chunghwa Telecom Co. Ltd. |
21,794 | $ | 96,784 | |||||
Compal Electronics, Inc. |
22,846 | 20,699 | ||||||
CTBC Financial Holding Co. Ltd. |
105,708 | 102,371 | ||||||
Delta Electronics, Inc. |
11,714 | 102,996 | ||||||
E.Sun Financial Holding Co. Ltd. |
67,710 | 71,127 | ||||||
Eclat Textile Co. Ltd. |
1,118 | 23,090 | ||||||
Evergreen Marine Corp. Taiwan Ltd. |
14,968 | 76,615 | ||||||
Far Eastern New Century Corp. |
16,038 | 16,905 | ||||||
Far EasTone Telecommunications Co. Ltd. |
8,804 | 21,763 | ||||||
Feng TAY Enterprise Co. Ltd. |
2,655 | 19,604 | ||||||
First Financial Holding Co. Ltd. |
60,946 | 55,870 | ||||||
Fubon Financial Holding Co. Ltd. |
43,351 | 116,128 | ||||||
Hiwin Technologies Corp. |
1,696 | 16,001 | ||||||
Hotai Motor Co. Ltd. |
1,753 | 39,393 | ||||||
Hua Nan Financial Holdings Co. Ltd. |
50,784 | 40,033 | ||||||
Innolux Corp. |
55,234 | 33,001 | ||||||
Inventec Corp. |
13,656 | 12,494 | ||||||
Lite-On Technology Corp. |
12,163 | 29,675 | ||||||
MediaTek, Inc. |
8,860 | 342,896 | ||||||
Mega Financial Holding Co. Ltd. |
63,594 | 85,291 | ||||||
Nan Ya Plastics Corp. |
29,728 | 92,996 | ||||||
Nien Made Enterprise Co. Ltd. |
973 | 12,529 | ||||||
Oneness Biotech Co. Ltd.* |
1,406 | 12,413 | ||||||
President Chain Store Corp. |
3,159 | 29,466 | ||||||
Ruentex Development Co. Ltd. |
6,153 | 15,714 | ||||||
Shanghai Commercial & Savings Bank Ltd. |
20,865 | 34,087 | ||||||
SinoPac Financial Holdings Co. Ltd. |
57,944 | 35,343 | ||||||
Taishin Financial Holding Co. Ltd. |
58,121 | 40,427 | ||||||
Taiwan Cement Corp. |
29,696 | 50,155 | ||||||
Taiwan High Speed Rail Corp. |
12,863 | 13,558 | ||||||
Taiwan Mobile Co. Ltd. |
10,272 | 37,922 | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd. |
143,406 | 3,089,610 | ||||||
Uni-President Enterprises Corp. |
27,978 | 66,964 | ||||||
United Microelectronics Corp. |
68,569 | 127,428 | ||||||
Wan Hai Lines Ltd. |
3,552 | 23,693 | ||||||
Yageo Corp. |
2,135 | 34,384 | ||||||
Yang Ming Marine Transport Corp.* |
10,292 | 42,402 | ||||||
Yuanta Financial Holding Co. Ltd. |
54,228 | 48,067 | ||||||
|
|
|||||||
(Cost $4,151,477) |
5,523,150 | |||||||
|
|
|||||||
Thailand — 2.5% | ||||||||
Advanced Info Service PCL, NVDR |
7,100 | 49,760 | ||||||
Airports of Thailand PCL, NVDR* |
25,200 | 49,552 | ||||||
Asset World Corp. PCL, NVDR* |
55,300 | 8,124 | ||||||
B Grimm Power PCL, NVDR |
4,700 | 4,963 | ||||||
Bangkok Dusit Medical Services PCL, NVDR |
54,300 | 39,385 | ||||||
Berli Jucker PCL, NVDR |
8,100 | 8,305 | ||||||
BTS Group Holdings PCL, NVDR |
49,100 | 14,276 | ||||||
Bumrungrad Hospital PCL, NVDR |
3,100 | 14,563 | ||||||
Central Pattana PCL, NVDR |
11,400 | 19,276 | ||||||
Charoen Pokphand Foods PCL, NVDR |
23,500 | 18,160 | ||||||
CP ALL PCL, NVDR |
33,600 | 69,925 | ||||||
Energy Absolute PCL, NVDR |
8,600 | 25,004 | ||||||
Home Product Center PCL, NVDR |
33,500 | 15,584 | ||||||
Indorama Ventures PCL, NVDR |
9,500 | 13,083 |
See Notes to Financial Statements. | 36 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
Thailand (Continued) | ||||||||
Intouch Holdings PCL, NVDR |
6,500 | $ | 15,069 | |||||
Land & Houses PCL, NVDR |
48,700 | 14,308 | ||||||
Minor International PCL, NVDR* |
18,954 | 17,837 | ||||||
Muangthai Capital PCL, NVDR |
4,800 | 7,565 | ||||||
Osotspa PCL |
2,300 | 2,481 | ||||||
Osotspa PCL, NVDR |
4,700 | 5,070 | ||||||
PTT Exploration & Production PCL, NVDR |
8,100 | 33,838 | ||||||
PTT Global Chemical PCL, NVDR |
13,000 | 21,087 | ||||||
Siam Cement PCL, NVDR |
4,600 | 55,186 | ||||||
Siam Commercial Bank PCL, NVDR |
4,900 | 18,820 | ||||||
Sri Trang Gloves Thailand PCL, NVDR |
5,600 | 4,413 | ||||||
Thai Oil PCL, NVDR |
6,500 | 10,692 | ||||||
Thai Union Group PCL, NVDR |
15,700 | 9,802 | ||||||
True Corp. PCL, NVDR |
66,600 | 10,191 | ||||||
|
|
|||||||
(Cost $553,369) |
576,319 | |||||||
|
|
|||||||
Turkey — 0.2% | ||||||||
KOC Holding AS |
4,583 | 10,462 | ||||||
Turkcell Iletisim Hizmetleri AS |
7,039 | 10,422 | ||||||
Turkiye Garanti Bankasi AS |
12,919 | 10,328 | ||||||
Turkiye Is Bankasi AS, Class C |
7,924 | 4,551 | ||||||
Turkiye Sise ve Cam Fabrikalari AS |
7,971 | 7,120 | ||||||
|
|
|||||||
(Cost $51,977) |
42,883 | |||||||
|
|
|||||||
United Arab Emirates — 2.1% | ||||||||
Abu Dhabi Commercial Bank PJSC |
16,106 | 47,182 | ||||||
Abu Dhabi Islamic Bank PJSC |
8,165 | 19,673 | ||||||
Aldar Properties PJSC |
23,047 | 26,353 | ||||||
Emirates NBD Bank PJSC |
14,802 | 57,627 | ||||||
Emirates Telecommunications Group Co. PJSC |
20,324 | 193,554 | ||||||
First Abu Dhabi Bank PJSC |
25,455 | 143,317 | ||||||
|
|
|||||||
(Cost $362,777) |
487,706 | |||||||
|
|
|||||||
TOTAL
COMMON STOCKS |
23,082,126 | |||||||
|
|
|||||||
PREFERRED STOCKS — 1.1% | ||||||||
Brazil — 0.7% | ||||||||
Banco Bradesco SA |
27,950 | 110,407 | ||||||
Cia Energetica de Minas Gerais |
6,427 | 15,969 | ||||||
Gerdau SA |
6,602 | 32,627 | ||||||
|
|
|||||||
(Cost $191,190) |
159,003 | |||||||
|
|
|||||||
Chile — 0.2% | ||||||||
Sociedad
Quimica y Minera de Chile SA, Class B |
787 | 52,480 | ||||||
|
|
|||||||
Colombia — 0.1% | ||||||||
Bancolombia
SA |
2,705 | 24,137 | ||||||
|
|
|||||||
South Korea — 0.1% | ||||||||
LG Chem Ltd. |
47 | 10,574 | ||||||
LG Household & Health Care Ltd. |
13 | 5,676 | ||||||
|
|
|||||||
(Cost $21,449) |
16,250 | |||||||
|
|
|||||||
TOTAL
PREFERRED STOCKS |
251,870 | |||||||
|
|
Principal |
Value |
|||||||
CORPORATE BONDS — 0.0% | ||||||||
India — 0.0% | ||||||||
Britannia Industries Ltd. |
||||||||
8.00%, 8/28/22 |
INR | 4,500 | $ | 61 | ||||
Series N3, 5.50%, 6/3/24 |
INR | 12,383 | 164 | |||||
|
|
|||||||
(Cost $64) |
225 | |||||||
|
|
|||||||
Number |
||||||||
RIGHTS — 0.0% | ||||||||
Brazil — 0.0% | ||||||||
Americanas
SA*, expires 3/9/22 |
81 | 107 | ||||||
|
|
|||||||
WARRANTS — 0.0% | ||||||||
Thailand — 0.0% | ||||||||
BTS Group Holdings PCL*, expires 9/5/22 |
1,525 | 32 | ||||||
BTS Group Holdings PCL*, expires 11/7/24 |
3,050 | 60 | ||||||
BTS Group Holdings PCL*, expires 11/20/26 |
6,100 | 106 | ||||||
|
|
|||||||
TOTAL
WARRANTS |
198 | |||||||
|
|
|||||||
EXCHANGE-TRADED FUNDS — 0.0% | ||||||||
iShares
ESG Aware MSCI EM ETF (a) |
250 | 9,480 | ||||||
|
|
|||||||
SECURITIES LENDING COLLATERAL — 0.7% |
| |||||||
DWS
Government & Agency Securities Portfolio “DWS Government Cash
Institutional Shares”, 0.01% (c)(d) |
161,048 | 161,048 | ||||||
|
|
|||||||
TOTAL INVESTMENTS — 100.7% (Cost $23,583,572) |
$ | 23,505,054 | ||||||
Other assets and liabilities, net — (0.7%) |
(172,262 | ) | ||||||
|
|
|||||||
NET ASSETS — 100.0% |
$ | 23,332,792 | ||||||
|
|
See Notes to Financial Statements. | 37 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (Continued)
February 28, 2022 (Unaudited)
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2022 is as follows:
Value ($) at 8/31/2021 |
Purchases Cost ($) |
Sales Proceeds ($) |
Net Realized Gain/(Loss) ($) |
Net Change in Unrealized Appreciation (Depreciation) ($) |
Income ($) | Capital Gain Distributions ($) |
Number of Shares at 2/28/2022 |
Value ($) at 2/28/2022 |
||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 0.7% |
|
|||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (c)(d) |
| |||||||||||||||||||||||||||||||||||
79,911 | 81,137 | (e) | — | — | — | 5 | — | 161,048 | 161,048 | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.0% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (c) |
| |||||||||||||||||||||||||||||||||||
149,313 | 1,513,286 | (1,662,599 | ) | — | — | 13 | — | — | — | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
229,224 | 1,594,423 | (1,662,599 | ) | — | — | 18 | — | 161,048 | 161,048 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
Non-income producing security. |
(a) |
All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2022 amounted to $235,383, which is 1.0% of net assets. |
(b) |
Investment was valued using significant unobservable inputs. |
(c) |
Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
(d) |
Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund held non-cash U.S. Treasury securities collateral having a value of $125,469. |
(e) |
Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2022. |
ADR: | American Depositary Receipt |
CPO: | Ordinary Participation Certificates |
GDR: | Global Depositary Receipt |
JSC: | Joint Stock Company |
KSCP: | Kuwait Shareholding Company Public |
NVDR: | Non Voting Depositary Receipt |
PJSC: | Public Joint Stock Company |
PSQC: | Public Shareholders Qatari Company |
QPSC: | Qatari Public Shareholders Company |
QSC: | Qatari Shareholders Company |
REIT: | Real Estate Investment Trust |
SAE: | Societe Anonyme Egyptienne |
144A: | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
Securities are listed in country of domicile.
At February 28, 2022, open futures contracts purchased were as follows:
Contract Description |
Currency | Number of Contracts |
Notional Amount |
Contract Value |
Expiration Date |
Unrealized Depreciation |
||||||||||||
MSCI Emerging Markets Index Futures |
USD | 1 | $ | 60,760 | $ | 58,775 | 3/18/2022 | $ | (1,985 | ) |
For information on the Fund’s policy and additional disclosures regarding open futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
Currency Abbreviations
INR | Indian Rupee |
USD | U.S. Dollar |
See Notes to Financial Statements. | 38 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (Continued)
February 28, 2022 (Unaudited)
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2022 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 (f) |
$ | 22,898,471 | $ | — | $ | 183,655 | $ | 23,082,126 | ||||||||
Preferred Stocks (f) |
251,870 | — | — | 251,870 | ||||||||||||
Corporate Bonds |
— | 225 | — | 225 | ||||||||||||
Rights |
— | 107 | — | 107 | ||||||||||||
Warrants |
198 | — | — | 198 | ||||||||||||
Exchange-Traded Funds |
9,480 | — | — | 9,480 | ||||||||||||
Short-Term Investments (f) |
161,048 | — | — | 161,048 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
TOTAL |
$ | 23,321,067 | $ | 332 | $ | 183,655 | $ | 23,505,054 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Liabilities |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Derivatives (g) |
||||||||||||||||
Futures Contracts |
$ | (1,985 | ) | $ | — | $ | — | $ | (1,985 | ) | ||||||
|
|
|
|
|
|
|
|
|||||||||
TOTAL |
$ | (1,985 | ) | $ | — | $ | — | $ | (1,985 | ) | ||||||
|
|
|
|
|
|
|
|
(f) |
See Schedule of Investments for additional detailed categorizations. |
(g) |
Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
During the year ended February 28, 2022, the amount of transfers from Level 1 to Level 3 was $608,106, and between Level 3 to Level 1 was $243. The investments were transferred from Level 1 to Level 3 due to the lack of observable market data due to a decrease in market activity. The investment was transferred from Level 3 to Level 1 due to the availability of a pricing source supported by observable inputs.
See Notes to Financial Statements. | 39 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI USA ESG Leaders Equity ETF
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
COMMON STOCKS — 99.9% | ||||||||
Communication Services — 11.6% | ||||||||
Activision Blizzard, Inc. |
128,026 | $ | 10,434,119 | |||||
Alphabet, Inc., Class A* |
49,048 | 132,485,515 | ||||||
Alphabet, Inc., Class C* |
46,627 | 125,791,253 | ||||||
Cable One, Inc. |
857 | 1,227,952 | ||||||
Discovery, Inc., Class A* |
26,876 | 753,872 | ||||||
Discovery, Inc., Class C* |
53,673 | 1,501,234 | ||||||
Electronic Arts, Inc. |
46,746 | 6,081,187 | ||||||
Interpublic Group of Cos., Inc. |
64,908 | 2,388,614 | ||||||
Omnicom Group, Inc. |
35,735 | 2,997,809 | ||||||
Sirius XM Holdings, Inc. (a) |
146,132 | 900,173 | ||||||
Take-Two Interactive Software, Inc.* |
18,198 | 2,948,076 | ||||||
Verizon Communications, Inc. |
674,480 | 36,199,342 | ||||||
Walt Disney Co.* |
295,422 | 43,858,350 | ||||||
|
|
|||||||
(Cost $257,668,503) |
367,567,496 | |||||||
|
|
|||||||
Consumer Discretionary — 12.5% | ||||||||
Advance Auto Parts, Inc. |
9,954 | 2,035,394 | ||||||
Aptiv PLC* |
43,654 | 5,650,574 | ||||||
Best Buy Co., Inc. |
35,674 | 3,447,535 | ||||||
Booking Holdings, Inc.* |
6,708 | 14,571,453 | ||||||
BorgWarner, Inc. |
40,174 | 1,647,536 | ||||||
Burlington Stores, Inc.* |
10,951 | 2,473,721 | ||||||
CarMax, Inc.* |
26,635 | 2,912,005 | ||||||
Darden Restaurants, Inc. |
20,345 | 2,954,501 | ||||||
Domino’s Pizza, Inc. |
5,905 | 2,552,200 | ||||||
eBay, Inc. |
105,535 | 5,761,156 | ||||||
Garmin Ltd. |
25,795 | 2,848,800 | ||||||
Genuine Parts Co. |
23,409 | 2,859,643 | ||||||
Hasbro, Inc. |
20,338 | 1,973,803 | ||||||
Hilton Worldwide Holdings, Inc.* |
45,048 | 6,705,845 | ||||||
Home Depot, Inc. |
170,266 | 53,775,111 | ||||||
LKQ Corp. |
47,332 | 2,222,237 | ||||||
Lowe’s Cos., Inc. |
109,853 | 24,284,104 | ||||||
Lululemon Athletica, Inc.* |
19,528 | 6,247,788 | ||||||
McDonald’s Corp. |
122,125 | 29,892,536 | ||||||
MercadoLibre, Inc.* |
7,391 | 8,327,070 | ||||||
Mohawk Industries, Inc.* |
9,027 | 1,270,821 | ||||||
Newell Brands, Inc. |
64,266 | 1,526,318 | ||||||
NIKE, Inc., Class B |
207,990 | 28,401,035 | ||||||
NVR, Inc.* |
540 | 2,677,558 | ||||||
Pool Corp. |
6,300 | 2,889,054 | ||||||
Starbucks Corp. |
191,585 | 17,585,587 | ||||||
Target Corp. |
78,120 | 15,606,032 | ||||||
Tesla, Inc.* |
139,189 | 121,154,281 | ||||||
TJX Cos., Inc. |
196,304 | 12,975,694 | ||||||
Tractor Supply Co. |
18,479 | 3,765,835 | ||||||
Vail Resorts, Inc. |
6,832 | 1,780,078 | ||||||
VF Corp. |
54,089 | 3,138,244 | ||||||
|
|
|||||||
(Cost $280,538,441) |
395,913,549 | |||||||
|
|
|||||||
Consumer Staples — 6.5% | ||||||||
Bunge Ltd. |
21,962 | 2,296,127 | ||||||
Campbell Soup Co. |
31,257 | 1,405,627 | ||||||
Clorox Co. |
19,727 | 2,875,999 | ||||||
Coca-Cola Co. |
667,216 | 41,527,524 | ||||||
Colgate-Palmolive Co. |
131,269 | 10,101,150 |
Number |
Value |
|||||||
Consumer Staples (Continued) | ||||||||
Conagra Brands, Inc. |
80,508 | $ | 2,815,365 | |||||
Estee Lauder Cos., Inc., Class A |
37,871 | 11,222,313 | ||||||
General Mills, Inc. |
99,575 | 6,714,342 | ||||||
Hormel Foods Corp. |
45,873 | 2,185,390 | ||||||
J M Smucker Co. |
17,975 | 2,422,131 | ||||||
Kellogg Co. |
42,223 | 2,699,739 | ||||||
Keurig Dr Pepper, Inc. |
117,123 | 4,529,146 | ||||||
Kimberly-Clark Corp. |
55,095 | 7,170,614 | ||||||
Kroger Co. |
116,191 | 5,437,739 | ||||||
McCormick & Co., Inc. |
41,550 | 3,954,314 | ||||||
PepsiCo, Inc. |
225,055 | 36,850,506 | ||||||
Procter & Gamble Co. |
394,266 | 61,462,127 | ||||||
|
|
|||||||
(Cost $172,126,035) |
205,670,153 | |||||||
|
|
|||||||
Energy — 1.5% | ||||||||
Baker Hughes Co. |
131,587 | 3,866,026 | ||||||
Cheniere Energy, Inc. |
39,288 | 5,221,375 | ||||||
Marathon Petroleum Corp. |
100,368 | 7,815,656 | ||||||
ONEOK, Inc. |
72,541 | 4,736,928 | ||||||
Phillips 66 |
71,025 | 5,983,146 | ||||||
Schlumberger N.V. |
230,205 | 9,033,244 | ||||||
Valero Energy Corp. |
66,553 | 5,557,841 | ||||||
Williams Cos., Inc. |
199,251 | 6,232,571 | ||||||
|
|
|||||||
(Cost $40,248,633) |
48,446,787 | |||||||
|
|
|||||||
Financials — 11.6% | ||||||||
Aflac, Inc. |
106,401 | 6,500,037 | ||||||
Allstate Corp. |
46,480 | 5,687,293 | ||||||
Ally Financial, Inc. |
61,792 | 3,083,421 | ||||||
American Express Co. |
107,573 | 20,927,252 | ||||||
American International Group, Inc. |
136,622 | 8,366,731 | ||||||
Ameriprise Financial, Inc. |
18,544 | 5,559,306 | ||||||
Annaly Capital Management, Inc. REIT |
235,585 | 1,639,672 | ||||||
Aon PLC, Class A |
35,926 | 10,495,422 | ||||||
Arch Capital Group Ltd.* |
62,100 | 2,925,531 | ||||||
Arthur J Gallagher & Co. |
33,631 | 5,320,088 | ||||||
Assurant, Inc. |
9,317 | 1,581,188 | ||||||
Bank of New York Mellon Corp. |
127,909 | 6,798,363 | ||||||
BlackRock, Inc. |
24,770 | 18,426,155 | ||||||
Carlyle Group, Inc. |
24,068 | 1,128,067 | ||||||
Cboe Global Markets, Inc. |
17,529 | 2,055,976 | ||||||
Charles Schwab Corp. |
234,574 | 19,812,120 | ||||||
Chubb Ltd. |
70,897 | 14,437,465 | ||||||
Citizens Financial Group, Inc. |
69,237 | 3,629,404 | ||||||
CME Group, Inc. |
58,378 | 13,808,148 | ||||||
Discover Financial Services |
47,678 | 5,885,372 | ||||||
Equitable Holdings, Inc. |
58,570 | 1,912,896 | ||||||
Erie Indemnity Co., Class A |
3,490 | 611,099 | ||||||
FactSet Research Systems, Inc. |
5,838 | 2,370,753 | ||||||
First Republic Bank |
27,870 | 4,828,756 | ||||||
Franklin Resources, Inc. |
49,726 | 1,478,354 | ||||||
Hartford Financial Services Group, Inc. |
55,421 | 3,850,651 | ||||||
Huntington Bancshares, Inc. |
239,903 | 3,723,295 | ||||||
Intercontinental Exchange, Inc. |
92,409 | 11,839,441 | ||||||
Invesco Ltd. |
54,050 | 1,148,022 | ||||||
KeyCorp |
161,025 | 4,036,897 | ||||||
Lincoln National Corp. |
27,950 | 1,884,389 |
See Notes to Financial Statements. | 40 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI USA ESG Leaders Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
Financials (Continued) | ||||||||
Loews Corp. |
35,010 | $ | 2,147,513 | |||||
M&T Bank Corp. |
21,006 | 3,827,923 | ||||||
MarketAxess Holdings, Inc. |
5,962 | 2,274,086 | ||||||
Marsh & McLennan Cos., Inc. |
82,774 | 12,863,907 | ||||||
Moody’s Corp. |
27,413 | 8,827,808 | ||||||
Morgan Stanley |
221,762 | 20,122,684 | ||||||
Nasdaq, Inc. |
19,211 | 3,287,963 | ||||||
Northern Trust Corp. |
32,585 | 3,711,432 | ||||||
PNC Financial Services Group, Inc. |
69,281 | 13,804,239 | ||||||
Principal Financial Group, Inc. |
43,755 | 3,090,853 | ||||||
Progressive Corp. |
95,552 | 10,121,823 | ||||||
Prudential Financial, Inc. |
61,675 | 6,886,631 | ||||||
Raymond James Financial, Inc. |
30,062 | 3,296,298 | ||||||
Regions Financial Corp. |
153,332 | 3,709,101 | ||||||
S&P Global, Inc. |
56,355 | 21,172,453 | ||||||
State Street Corp. |
60,652 | 5,175,435 | ||||||
SVB Financial Group* |
9,463 | 5,734,578 | ||||||
T. Rowe Price Group, Inc. |
37,037 | 5,354,069 | ||||||
Travelers Cos., Inc. |
40,612 | 6,978,360 | ||||||
Truist Financial Corp. |
217,981 | 13,562,778 | ||||||
US Bancorp |
227,827 | 12,881,339 | ||||||
Willis Towers Watson PLC |
20,626 | 4,585,160 | ||||||
|
|
|||||||
(Cost $289,040,453) |
369,167,997 | |||||||
|
|
|||||||
Health Care — 13.2% | ||||||||
ABIOMED, Inc.* |
7,263 | 2,256,905 | ||||||
Agilent Technologies, Inc. |
49,638 | 6,470,810 | ||||||
Align Technology, Inc.* |
12,125 | 6,201,452 | ||||||
AmerisourceBergen Corp. |
24,408 | 3,478,872 | ||||||
Amgen, Inc. |
92,900 | 21,039,992 | ||||||
Baxter International, Inc. |
82,678 | 7,025,150 | ||||||
Biogen, Inc.* |
24,165 | 5,099,057 | ||||||
BioMarin Pharmaceutical, Inc.* |
29,324 | 2,290,791 | ||||||
Bio-Techne Corp. |
6,501 | 2,726,584 | ||||||
Bristol-Myers Squibb Co. |
361,158 | 24,800,720 | ||||||
Cardinal Health, Inc. |
44,949 | 2,427,695 | ||||||
Catalent, Inc.* |
27,256 | 2,781,202 | ||||||
Centene Corp.* |
94,521 | 7,809,325 | ||||||
Cerner Corp. |
49,926 | 4,655,600 | ||||||
Cigna Corp. |
54,037 | 12,848,918 | ||||||
DaVita, Inc.* |
11,612 | 1,309,485 | ||||||
DENTSPLY SIRONA, Inc. |
35,173 | 1,904,266 | ||||||
Dexcom, Inc.* |
15,664 | 6,483,486 | ||||||
Edwards Lifesciences Corp.* |
101,703 | 11,428,366 | ||||||
Eli Lilly & Co. |
132,479 | 33,113,126 | ||||||
Gilead Sciences, Inc. |
202,608 | 12,237,523 | ||||||
HCA Healthcare, Inc. |
40,568 | 10,154,576 | ||||||
Hologic, Inc.* |
40,899 | 2,910,782 | ||||||
Horizon Therapeutics PLC* |
35,453 | 3,232,250 | ||||||
Humana, Inc. |
21,102 | 9,165,021 | ||||||
IDEXX Laboratories, Inc.* |
13,903 | 7,401,262 | ||||||
Illumina, Inc.* |
24,170 | 7,893,922 | ||||||
Insulet Corp.* |
11,072 | 2,930,648 | ||||||
Jazz Pharmaceuticals PLC* |
8,865 | 1,218,228 | ||||||
Johnson & Johnson |
429,116 | 70,619,620 | ||||||
Laboratory Corp. of America Holdings* |
15,247 | 4,135,901 | ||||||
Merck & Co., Inc. |
411,869 | 31,540,928 |
Number |
Value |
|||||||
Health Care (Continued) | ||||||||
Mettler-Toledo International, Inc.* |
3,773 | $ | 5,315,176 | |||||
Novocure Ltd.* (a) |
14,940 | 1,222,988 | ||||||
Quest Diagnostics, Inc. |
19,671 | 2,582,212 | ||||||
ResMed, Inc. |
23,690 | 5,845,508 | ||||||
STERIS PLC |
16,273 | 3,905,520 | ||||||
Teladoc Health, Inc.* |
21,889 | 1,661,594 | ||||||
Teleflex, Inc. |
7,735 | 2,601,358 | ||||||
Thermo Fisher Scientific, Inc. |
64,138 | 34,891,072 | ||||||
Vertex Pharmaceuticals, Inc.* |
42,146 | 9,694,423 | ||||||
Waters Corp.* |
10,024 | 3,174,902 | ||||||
West Pharmaceutical Services, Inc. |
12,164 | 4,708,441 | ||||||
Zoetis, Inc. |
77,414 | 14,991,221 | ||||||
|
|
|||||||
(Cost $370,864,110) |
420,186,878 | |||||||
|
|
|||||||
Industrials — 7.8% | ||||||||
3M Co. |
93,614 | 13,915,721 | ||||||
Allegion PLC |
14,124 | 1,617,480 | ||||||
AMERCO |
1,708 | 986,558 | ||||||
C.H. Robinson Worldwide, Inc. |
21,488 | 2,077,460 | ||||||
Caterpillar, Inc. |
88,758 | 16,649,226 | ||||||
Copart, Inc.* |
35,173 | 4,322,058 | ||||||
CSX Corp. |
365,816 | 12,404,821 | ||||||
Cummins, Inc. |
24,021 | 4,903,167 | ||||||
Deere & Co. |
47,953 | 17,264,039 | ||||||
Delta Air Lines, Inc.* |
29,478 | 1,176,762 | ||||||
Dover Corp. |
22,799 | 3,576,251 | ||||||
Eaton Corp. PLC |
64,662 | 9,976,700 | ||||||
Expeditors International of Washington, Inc. |
28,177 | 2,912,375 | ||||||
Fastenal Co. |
93,002 | 4,785,883 | ||||||
Fortive Corp. |
55,986 | 3,625,094 | ||||||
Fortune Brands Home & Security, Inc. |
22,873 | 1,987,664 | ||||||
Generac Holdings, Inc.* |
10,150 | 3,202,021 | ||||||
Howmet Aerospace, Inc. |
64,407 | 2,313,499 | ||||||
IDEX Corp. |
11,831 | 2,270,369 | ||||||
Illinois Tool Works, Inc. |
51,246 | 11,086,560 | ||||||
Johnson Controls International PLC |
116,467 | 7,565,696 | ||||||
Lennox International, Inc. |
5,064 | 1,351,734 | ||||||
Masco Corp. |
40,182 | 2,251,799 | ||||||
Norfolk Southern Corp. |
40,210 | 10,314,669 | ||||||
Owens Corning |
16,796 | 1,565,219 | ||||||
PACCAR, Inc. |
56,327 | 5,171,382 | ||||||
Pentair PLC |
27,841 | 1,612,272 | ||||||
Robert Half International, Inc. |
17,473 | 2,101,827 | ||||||
Rockwell Automation, Inc. |
18,838 | 5,021,834 | ||||||
Roper Technologies, Inc. |
17,028 | 7,632,290 | ||||||
Snap-on, Inc. |
8,684 | 1,825,203 | ||||||
Stanley Black & Decker, Inc. |
27,120 | 4,412,424 | ||||||
Trane Technologies PLC |
39,596 | 6,095,012 | ||||||
Union Pacific Corp. |
104,898 | 25,799,663 | ||||||
United Parcel Service, Inc., Class B |
118,146 | 24,860,281 | ||||||
United Rentals, Inc.* |
11,794 | 3,793,186 | ||||||
W.W. Grainger, Inc. |
7,086 | 3,380,447 | ||||||
Waste Management, Inc. |
68,572 | 9,901,797 | ||||||
Xylem, Inc. |
29,040 | 2,583,108 | ||||||
|
|
|||||||
(Cost $196,424,458) |
248,293,551 | |||||||
|
|
See Notes to Financial Statements. | 41 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI USA ESG Leaders Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
Information Technology — 28.7% | ||||||||
Accenture PLC, Class A |
103,306 | $ | 32,646,762 | |||||
Adobe, Inc.* |
77,528 | 36,258,295 | ||||||
ANSYS, Inc.* |
14,365 | 4,656,989 | ||||||
Applied Materials, Inc. |
147,014 | 19,729,279 | ||||||
Autodesk, Inc.* |
35,839 | 7,892,823 | ||||||
Automatic Data Processing, Inc. |
68,826 | 14,070,787 | ||||||
Cadence Design Systems, Inc.* |
44,213 | 6,695,175 | ||||||
Cisco Systems, Inc. |
686,751 | 38,300,103 | ||||||
Citrix Systems, Inc. |
19,824 | 2,031,960 | ||||||
Cognex Corp. |
27,090 | 1,830,200 | ||||||
Hewlett Packard Enterprise Co. |
206,925 | 3,294,246 | ||||||
HP, Inc. |
195,261 | 6,709,168 | ||||||
Intel Corp. |
663,518 | 31,649,809 | ||||||
International Business Machines Corp. |
145,857 | 17,868,941 | ||||||
Intuit, Inc. |
43,963 | 20,854,728 | ||||||
Keysight Technologies, Inc.* |
30,185 | 4,750,213 | ||||||
Lam Research Corp. |
23,100 | 12,967,185 | ||||||
Mastercard, Inc., Class A |
143,306 | 51,707,671 | ||||||
Microsoft Corp. |
1,163,556 | 347,658,897 | ||||||
Motorola Solutions, Inc. |
27,202 | 5,996,137 | ||||||
NVIDIA Corp. |
407,970 | 99,483,485 | ||||||
Okta, Inc.* |
24,356 | 4,453,251 | ||||||
salesforce.com, Inc.* |
160,109 | 33,707,748 | ||||||
Teledyne Technologies, Inc.* |
7,721 | 3,315,243 | ||||||
Texas Instruments, Inc. |
150,094 | 25,514,479 | ||||||
Trimble, Inc.* |
42,035 | 2,931,941 | ||||||
Visa, Inc., Class A |
272,432 | 58,878,004 | ||||||
VMware, Inc., Class A |
33,908 | 3,978,087 | ||||||
Western Union Co. |
58,346 | 1,060,730 | ||||||
Workday, Inc., Class A* |
31,218 | 7,150,483 | ||||||
Zebra Technologies Corp., Class A* |
8,646 | 3,573,738 | ||||||
|
|
|||||||
(Cost $656,337,559) |
911,616,557 | |||||||
|
|
|||||||
Materials — 2.8% | ||||||||
Amcor PLC |
253,702 | 2,950,554 | ||||||
Ball Corp. |
52,141 | 4,679,133 | ||||||
DuPont de Nemours, Inc. |
85,360 | 6,604,303 | ||||||
Ecolab, Inc. |
42,295 | 7,454,917 | ||||||
International Flavors & Fragrances, Inc. |
40,158 | 5,341,014 | ||||||
International Paper Co. |
60,147 | 2,618,199 | ||||||
Linde PLC |
84,338 | 24,731,275 | ||||||
LyondellBasell Industries NV, Class A |
42,673 | 4,149,096 | ||||||
Mosaic Co. |
60,027 | 3,147,216 | ||||||
Newmont Corp. |
129,769 | 8,590,708 | ||||||
PPG Industries, Inc. |
38,277 | 5,108,066 | ||||||
Sherwin-Williams Co. |
40,464 | 10,647,292 | ||||||
Steel Dynamics, Inc. |
35,455 | 2,502,414 | ||||||
|
|
|||||||
(Cost $74,268,961) |
88,524,187 | |||||||
|
|
|||||||
Real Estate — 2.7% | ||||||||
American Tower Corp. REIT |
74,257 | 16,846,686 | ||||||
Boston Properties, Inc. REIT |
23,016 | 2,815,087 | ||||||
CBRE Group, Inc., Class A* |
54,420 | 5,270,577 | ||||||
Crown Castle International Corp. REIT |
70,713 | 11,780,079 | ||||||
Equinix, Inc. REIT |
14,598 | 10,360,638 | ||||||
Equity Residential REIT |
59,106 | 5,041,742 | ||||||
Healthpeak Properties, Inc. REIT |
85,912 | 2,668,427 |
Number |
Value |
|||||||
Real Estate (Continued) | ||||||||
Host Hotels & Resorts, Inc. REIT* |
120,130 | $ | 2,194,775 | |||||
Prologis, Inc. REIT |
120,325 | 17,549,401 | ||||||
Welltower, Inc. REIT |
70,853 | 5,901,346 | ||||||
Weyerhaeuser Co. REIT |
122,407 | 4,759,184 | ||||||
|
|
|||||||
(Cost $74,987,093) |
85,187,942 | |||||||
|
|
|||||||
Utilities — 1.0% | ||||||||
American Water Works Co., Inc. |
29,562 | 4,466,523 | ||||||
Atmos Energy Corp. |
21,660 | 2,378,485 | ||||||
Consolidated Edison, Inc. |
57,497 | 4,931,518 | ||||||
Edison International |
62,808 | 3,983,283 | ||||||
Essential Utilities, Inc. |
36,855 | 1,736,239 | ||||||
Eversource Energy |
56,013 | 4,581,863 | ||||||
Sempra Energy |
51,503 | 7,427,763 | ||||||
UGI Corp. |
32,271 | 1,240,497 | ||||||
|
|
|||||||
(Cost $28,821,526) |
30,746,171 | |||||||
|
|
|||||||
TOTAL COMMON STOCKS (Cost $2,441,325,772) |
3,171,321,268 | |||||||
|
|
|||||||
SECURITIES LENDING COLLATERAL — 0.0% | ||||||||
DWS
Government & Agency Securities Portfolio “DWS Government Cash
Institutional Shares”, 0.01% (b)(c) |
865,404 | 865,404 | ||||||
|
|
|||||||
CASH EQUIVALENTS — 0.0% | ||||||||
DWS
Government Money Market Series “Institutional Shares”, 0.04% (b) |
860,638 | 860,638 | ||||||
|
|
|||||||
TOTAL INVESTMENTS — 99.9% (Cost $2,443,051,814) |
$ | 3,173,047,310 | ||||||
Other assets and liabilities, net — 0.1% |
2,673,127 | |||||||
|
|
|||||||
NET ASSETS — 100.0% |
$ | 3,175,720,437 | ||||||
|
|
See Notes to Financial Statements. | 42 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI USA ESG Leaders Equity ETF (Continued)
February 28, 2022 (Unaudited)
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2022 is as follows:
Value ($) at 8/31/2021 |
Purchases Cost ($) |
Sales Proceeds ($) |
Net Realized Gain/(Loss) ($) |
Net Change in Unrealized Appreciation (Depreciation) ($) |
Income ($) | Capital Gain Distributions ($) |
Number of Shares at 2/28/2022 |
Value ($) at 2/28/2022 |
||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 0.0% |
|
|||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (b)(c) |
| |||||||||||||||||||||||||||||||||||
852,902 | 12,502 | (d) | — | — | — | 45 | — | 865,404 | 865,404 | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.0% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (b) |
| |||||||||||||||||||||||||||||||||||
3,332,190 | 38,488,158 | (40,959,710 | ) | — | — | 626 | — | 860,638 | 860,638 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
4,185,092 | 38,500,660 | (40,959,710 | ) | — | — | 671 | — | 1,726,042 | 1,726,042 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
Non-income producing security. |
(a) |
All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2022 amounted to $863,808, which is 0.0% of net assets. |
(b) |
Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
(c) |
Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund held non-cash U.S. Treasury securities collateral having a value of $45,408. |
(d) |
Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2022. |
REIT: | Real Estate Investment Trust |
At February 28, 2022, open futures contracts purchased were as follows:
Contract Description |
Currency | Number of Contracts |
Notional Amount |
Contract Value |
Expiration Date |
Unrealized Depreciation |
||||||||||||
E-Mini S&P 500 ESG Futures |
USD | 10 | $ | 2,035,840 | $ | 1,912,500 | 3/18/2022 | $ | (123,340 | ) | ||||||||
MSCI USA ESG Leaders GTR Index Futures |
USD | 50 | 2,538,950 | 2,369,000 | 3/18/2022 | (169,950 | ) | |||||||||||
|
|
|||||||||||||||||
Total unrealized depreciation |
$ | (293,290 | ) | |||||||||||||||
|
|
For information on the Fund’s policy and additional disclosures regarding open futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
Currency Abbreviations
USD | U.S. Dollar |
See Notes to Financial Statements. | 43 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI USA ESG Leaders Equity ETF (Continued)
February 28, 2022 (Unaudited)
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2022 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 (e) |
$ | 3,171,321,268 | $ | — | $ | — | $ | 3,171,321,268 | ||||||||
Short-Term Investments (e) |
1,726,042 | — | — | 1,726,042 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
TOTAL |
$ | 3,173,047,310 | $ | — | $ | — | $ | 3,173,047,310 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Liabilities |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Derivatives (f) |
||||||||||||||||
Futures Contracts |
$ | (293,290 | ) | $ | — | $ | — | $ | (293,290 | ) | ||||||
|
|
|
|
|
|
|
|
|||||||||
TOTAL |
$ | (293,290 | ) | $ | — | $ | — | $ | (293,290 | ) | ||||||
|
|
|
|
|
|
|
|
(e) See Schedule of Investments for additional detailed categorizations.
(f) Derivatives include unrealized appreciation (depreciation) on open futures contracts.
See Notes to Financial Statements. | 44 |
DBX ETF Trust
Schedule of Investments
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
COMMON STOCKS — 99.8% | ||||||||
Communication Services — 9.5% | ||||||||
Activision Blizzard, Inc. |
23,486 | $ | 1,914,109 | |||||
Alphabet, Inc., Class A* |
9,161 | 24,745,143 | ||||||
Alphabet, Inc., Class C* |
8,516 | 22,974,635 | ||||||
AT&T, Inc. |
215,911 | 5,114,932 | ||||||
Charter Communications, Inc., Class A* |
3,859 | 2,322,269 | ||||||
Comcast Corp., Class A |
138,945 | 6,497,068 | ||||||
Discovery, Inc., Class A* |
4,892 | 137,221 | ||||||
Discovery, Inc., Class C* |
9,887 | 276,539 | ||||||
Electronic Arts, Inc. |
8,746 | 1,137,767 | ||||||
Interpublic Group of Cos., Inc. |
11,851 | 436,117 | ||||||
Live Nation Entertainment, Inc.* |
4,394 | 530,883 | ||||||
News Corp., Class A |
11,871 | 264,961 | ||||||
News Corp., Class B |
3,654 | 81,959 | ||||||
Omnicom Group, Inc. |
6,520 | 546,963 | ||||||
Take-Two Interactive Software, Inc.* |
3,503 | 567,486 | ||||||
Verizon Communications, Inc. |
125,334 | 6,726,676 | ||||||
Walt Disney Co.* |
54,994 | 8,164,409 | ||||||
|
|
|||||||
(Cost $76,043,106) |
82,439,137 | |||||||
|
|
|||||||
Consumer Discretionary — 13.5% | ||||||||
Amazon.com, Inc.* |
13,259 | 40,721,836 | ||||||
Aptiv PLC* |
8,240 | 1,066,586 | ||||||
Best Buy Co., Inc. |
6,998 | 676,287 | ||||||
Booking Holdings, Inc.* |
1,264 | 2,745,724 | ||||||
BorgWarner, Inc. |
7,272 | 298,225 | ||||||
CarMax, Inc.* |
5,184 | 566,767 | ||||||
Dollar Tree, Inc.* |
7,099 | 1,008,626 | ||||||
eBay, Inc. |
19,638 | 1,072,038 | ||||||
Etsy, Inc.* |
3,865 | 598,650 | ||||||
Ford Motor Co. |
118,262 | 2,076,681 | ||||||
General Motors Co.* |
44,499 | 2,078,993 | ||||||
Hasbro, Inc. |
4,396 | 426,632 | ||||||
Hilton Worldwide Holdings, Inc.* |
8,414 | 1,252,508 | ||||||
Home Depot, Inc. |
32,170 | 10,160,251 | ||||||
Las Vegas Sands Corp.* |
10,013 | 429,157 | ||||||
Lowe’s Cos., Inc. |
21,085 | 4,661,050 | ||||||
Marriott International, Inc., Class A* |
8,299 | 1,411,992 | ||||||
McDonald’s Corp. |
22,568 | 5,523,969 | ||||||
MGM Resorts International |
12,572 | 556,814 | ||||||
Newell Brands, Inc. |
11,459 | 272,151 | ||||||
NIKE, Inc., Class B |
38,739 | 5,289,810 | ||||||
PulteGroup, Inc. |
7,844 | 389,533 | ||||||
PVH Corp. |
2,068 | 202,437 | ||||||
Ralph Lauren Corp. |
1,434 | 189,345 | ||||||
Royal Caribbean Cruises Ltd.* |
6,640 | 535,981 | ||||||
Starbucks Corp. |
35,667 | 3,273,874 | ||||||
Tapestry, Inc. |
8,801 | 359,961 | ||||||
Target Corp. |
14,986 | 2,993,753 | ||||||
Tesla, Inc.* |
24,726 | 21,522,252 | ||||||
TJX Cos., Inc. |
36,436 | 2,408,420 | ||||||
Under Armour, Inc., Class A* |
6,182 | 110,596 | ||||||
Under Armour, Inc., Class C* |
6,006 | 93,874 | ||||||
VF Corp. |
9,708 | 563,258 | ||||||
Whirlpool Corp. |
1,841 | 370,538 | ||||||
Yum! Brands, Inc. |
9,142 | 1,120,626 | ||||||
|
|
|||||||
(Cost $112,942,813) |
117,029,195 | |||||||
|
|
Number |
Value |
|||||||
Consumer Staples — 5.7% | ||||||||
Archer-Daniels-Midland Co. |
16,770 | $ | 1,315,606 | |||||
Brown-Forman Corp., Class B |
5,582 | 364,114 | ||||||
Campbell Soup Co. |
6,105 | 274,542 | ||||||
Coca-Cola Co. |
118,236 | 7,359,009 | ||||||
Colgate-Palmolive Co. |
25,595 | 1,969,535 | ||||||
Conagra Brands, Inc. |
14,809 | 517,871 | ||||||
Constellation Brands, Inc., Class A |
5,186 | 1,118,205 | ||||||
General Mills, Inc. |
18,452 | 1,244,218 | ||||||
Hershey Co. |
4,434 | 896,821 | ||||||
Hormel Foods Corp. |
8,197 | 390,505 | ||||||
J M Smucker Co. |
3,157 | 425,406 | ||||||
Kellogg Co. |
7,584 | 484,921 | ||||||
Kraft Heinz Co. |
20,380 | 799,304 | ||||||
Kroger Co. |
20,622 | 965,110 | ||||||
McCormick & Co., Inc. |
7,837 | 745,847 | ||||||
Molson Coors Beverage Co., Class B |
5,385 | 280,989 | ||||||
Mondelez International, Inc., Class A |
42,630 | 2,791,412 | ||||||
PepsiCo, Inc. |
42,062 | 6,887,232 | ||||||
Procter & Gamble Co. |
73,534 | 11,463,215 | ||||||
Sysco Corp. |
15,455 | 1,346,131 | ||||||
Tyson Foods, Inc., Class A |
8,866 | 821,524 | ||||||
Walgreens Boots Alliance, Inc. |
21,688 | 999,600 | ||||||
Walmart, Inc. |
43,315 | 5,854,455 | ||||||
|
|
|||||||
(Cost $44,776,455) |
49,315,572 | |||||||
|
|
|||||||
Energy — 4.0% | ||||||||
APA Corp. |
12,218 | 435,327 | ||||||
Chevron Corp. |
58,566 | 8,433,504 | ||||||
ConocoPhillips |
40,875 | 3,877,402 | ||||||
Devon Energy Corp. |
19,089 | 1,136,750 | ||||||
Exxon Mobil Corp. |
128,259 | 10,058,071 | ||||||
Halliburton Co. |
26,843 | 900,046 | ||||||
Hess Corp. |
8,262 | 834,957 | ||||||
Kinder Morgan, Inc. |
58,735 | 1,021,989 | ||||||
Marathon Petroleum Corp. |
19,755 | 1,538,322 | ||||||
Occidental Petroleum Corp. |
26,863 | 1,174,719 | ||||||
ONEOK, Inc. |
13,536 | 883,901 | ||||||
Pioneer Natural Resources Co. |
7,020 | 1,681,992 | ||||||
Schlumberger N.V. |
42,116 | 1,652,632 | ||||||
Williams Cos., Inc. |
36,810 | 1,151,417 | ||||||
|
|
|||||||
(Cost $24,298,113) |
34,781,029 | |||||||
|
|
|||||||
Financials — 10.3% | ||||||||
Aflac, Inc. |
19,244 | 1,175,616 | ||||||
Allstate Corp. |
9,216 | 1,127,670 | ||||||
American Express Co. |
19,090 | 3,713,769 | ||||||
Ameriprise Financial, Inc. |
3,551 | 1,064,554 | ||||||
Arthur J Gallagher & Co. |
6,201 | 980,936 | ||||||
Assurant, Inc. |
1,834 | 311,248 | ||||||
Bank of America Corp. |
219,299 | 9,693,016 | ||||||
Bank of New York Mellon Corp. |
23,149 | 1,230,369 | ||||||
BlackRock, Inc. |
4,325 | 3,217,324 | ||||||
Capital One Financial Corp. |
12,945 | 1,984,080 | ||||||
Cboe Global Markets, Inc. |
3,195 | 374,742 | ||||||
Charles Schwab Corp. |
45,342 | 3,829,585 | ||||||
Chubb Ltd. |
13,282 | 2,704,747 | ||||||
Citigroup, Inc. |
60,403 | 3,577,670 | ||||||
CME Group, Inc. |
10,906 | 2,579,596 |
See Notes to Financial Statements. | 45 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P 500 ESG ETF (Continued)
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
Financials (Continued) | ||||||||
Comerica, Inc. |
4,072 | $ | 388,835 | |||||
Discover Financial Services |
9,295 | 1,147,375 | ||||||
Fifth Third Bancorp |
21,541 | 1,030,521 | ||||||
Franklin Resources, Inc. |
9,360 | 278,273 | ||||||
Globe Life, Inc. |
2,732 | 275,823 | ||||||
Goldman Sachs Group, Inc. |
10,380 | 3,542,590 | ||||||
Hartford Financial Services Group, Inc. |
10,858 | 754,414 | ||||||
Intercontinental Exchange, Inc. |
17,027 | 2,181,499 | ||||||
Invesco Ltd. |
10,375 | 220,365 | ||||||
JPMorgan Chase & Co. |
89,864 | 12,742,715 | ||||||
KeyCorp |
29,356 | 735,955 | ||||||
Lincoln National Corp. |
5,386 | 363,124 | ||||||
MarketAxess Holdings, Inc. |
1,200 | 457,716 | ||||||
Marsh & McLennan Cos., Inc. |
15,332 | 2,382,746 | ||||||
MetLife, Inc. |
22,497 | 1,519,672 | ||||||
Moody’s Corp. |
4,861 | 1,565,388 | ||||||
Morgan Stanley |
44,103 | 4,001,906 | ||||||
MSCI, Inc. |
2,547 | 1,277,804 | ||||||
Nasdaq, Inc. |
3,477 | 595,089 | ||||||
Northern Trust Corp. |
6,272 | 714,381 | ||||||
PNC Financial Services Group, Inc. |
12,833 | 2,556,975 | ||||||
Principal Financial Group, Inc. |
7,541 | 532,696 | ||||||
Progressive Corp. |
17,650 | 1,869,665 | ||||||
Prudential Financial, Inc. |
11,741 | 1,311,000 | ||||||
Raymond James Financial, Inc. |
5,370 | 588,821 | ||||||
Regions Financial Corp. |
29,066 | 703,107 | ||||||
S&P Global, Inc. |
10,775 | 4,048,063 | ||||||
State Street Corp. |
11,072 | 944,774 | ||||||
Synchrony Financial |
16,537 | 707,453 | ||||||
T. Rowe Price Group, Inc. |
6,934 | 1,002,379 | ||||||
Travelers Cos., Inc. |
7,546 | 1,296,629 | ||||||
|
|
|||||||
(Cost $77,786,844) |
89,302,675 | |||||||
|
|
|||||||
Health Care — 12.9% | ||||||||
Abbott Laboratories |
53,676 | 6,474,399 | ||||||
AbbVie, Inc. |
53,558 | 7,914,266 | ||||||
Agilent Technologies, Inc. |
9,257 | 1,206,743 | ||||||
AmerisourceBergen Corp. |
4,418 | 629,698 | ||||||
Amgen, Inc. |
17,200 | 3,895,456 | ||||||
Anthem, Inc. |
7,398 | 3,342,786 | ||||||
Baxter International, Inc. |
15,329 | 1,302,505 | ||||||
Becton Dickinson and Co. |
8,713 | 2,363,663 | ||||||
Biogen, Inc.* |
4,673 | 986,050 | ||||||
Bio-Rad Laboratories, Inc., Class A* |
626 | 391,851 | ||||||
Boston Scientific Corp.* |
42,987 | 1,898,736 | ||||||
Bristol-Myers Squibb Co. |
67,993 | 4,669,079 | ||||||
Cardinal Health, Inc. |
8,796 | 475,072 | ||||||
Cigna Corp. |
10,093 | 2,399,914 | ||||||
CVS Health Corp. |
39,748 | 4,119,880 | ||||||
Danaher Corp. |
19,247 | 5,281,569 | ||||||
DaVita, Inc.* |
2,114 | 238,396 | ||||||
Edwards Lifesciences Corp.* |
18,931 | 2,127,276 | ||||||
Eli Lilly & Co. |
24,129 | 6,031,044 | ||||||
Gilead Sciences, Inc. |
38,138 | 2,303,535 | ||||||
Henry Schein, Inc.* |
4,235 | 365,819 | ||||||
Hologic, Inc.* |
7,845 | 558,329 | ||||||
Humana, Inc. |
3,921 | 1,702,969 | ||||||
IDEXX Laboratories, Inc.* |
2,607 | 1,387,836 |
Number |
Value |
|||||||
Health Care (Continued) | ||||||||
Illumina, Inc.* |
4,767 | $ | 1,556,902 | |||||
Incyte Corp.* |
5,666 | 386,988 | ||||||
Laboratory Corp. of America Holdings* |
3,008 | 815,950 | ||||||
McKesson Corp. |
4,824 | 1,326,407 | ||||||
Medtronic PLC |
40,849 | 4,288,736 | ||||||
Merck & Co., Inc. |
76,753 | 5,877,745 | ||||||
Mettler-Toledo International, Inc.* |
723 | 1,018,519 | ||||||
PerkinElmer, Inc. |
3,850 | 691,498 | ||||||
Pfizer, Inc. |
170,813 | 8,017,962 | ||||||
Quest Diagnostics, Inc. |
3,681 | 483,205 | ||||||
Regeneron Pharmaceuticals, Inc.* |
3,160 | 1,954,018 | ||||||
Thermo Fisher Scientific, Inc. |
11,916 | 6,482,304 | ||||||
UnitedHealth Group, Inc. |
28,633 | 13,625,586 | ||||||
Vertex Pharmaceuticals, Inc.* |
7,901 | 1,817,388 | ||||||
Viatris, Inc. |
36,451 | 401,325 | ||||||
Waters Corp.* |
1,810 | 573,281 | ||||||
West Pharmaceutical Services, Inc. |
2,238 | 866,285 | ||||||
|
|
|||||||
(Cost $99,311,930) |
112,250,970 | |||||||
|
|
|||||||
Industrials — 6.4% | ||||||||
Alaska Air Group, Inc.* |
3,582 | 201,094 | ||||||
American Airlines Group, Inc.* |
18,541 | 319,832 | ||||||
AMETEK, Inc. |
6,994 | 907,751 | ||||||
Caterpillar, Inc. |
16,568 | 3,107,825 | ||||||
Cintas Corp. |
2,662 | 999,102 | ||||||
CSX Corp. |
69,308 | 2,350,234 | ||||||
Cummins, Inc. |
4,449 | 908,130 | ||||||
Deere & Co. |
8,629 | 3,106,613 | ||||||
Delta Air Lines, Inc.* |
19,388 | 773,969 | ||||||
Dover Corp. |
4,326 | 678,576 | ||||||
Eaton Corp. PLC |
11,994 | 1,850,554 | ||||||
Emerson Electric Co. |
18,124 | 1,684,082 | ||||||
Fastenal Co. |
17,324 | 891,493 | ||||||
FedEx Corp. |
7,418 | 1,648,799 | ||||||
Fortive Corp. |
10,871 | 703,897 | ||||||
General Electric Co. |
33,250 | 3,175,708 | ||||||
Howmet Aerospace, Inc. |
11,743 | 421,809 | ||||||
IDEX Corp. |
2,251 | 431,967 | ||||||
Illinois Tool Works, Inc. |
8,720 | 1,886,485 | ||||||
Ingersoll Rand, Inc. |
12,284 | 620,588 | ||||||
Johnson Controls International PLC |
21,846 | 1,419,116 | ||||||
L3Harris Technologies, Inc. |
6,097 | 1,538,334 | ||||||
Leidos Holdings, Inc. |
4,017 | 409,091 | ||||||
Nielsen Holdings PLC |
10,509 | 183,067 | ||||||
Norfolk Southern Corp. |
7,580 | 1,944,422 | ||||||
PACCAR, Inc. |
10,518 | 965,658 | ||||||
Parker-Hannifin Corp. |
3,923 | 1,162,738 | ||||||
Pentair PLC |
4,944 | 286,307 | ||||||
Republic Services, Inc. |
6,226 | 748,863 | ||||||
Robert Half International, Inc. |
3,447 | 414,640 | ||||||
Rockwell Automation, Inc. |
3,518 | 937,828 | ||||||
Roper Technologies, Inc. |
3,167 | 1,419,513 | ||||||
Snap-on, Inc. |
1,630 | 342,593 | ||||||
Stanley Black & Decker, Inc. |
4,859 | 790,559 | ||||||
Trane Technologies PLC |
7,181 | 1,105,371 | ||||||
TransDigm Group, Inc.* |
1,689 | 1,125,871 | ||||||
Union Pacific Corp. |
19,764 | 4,860,956 | ||||||
United Parcel Service, Inc., Class B |
22,067 | 4,643,338 |
See Notes to Financial Statements. | 46 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P 500 ESG ETF (Continued)
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
Industrials (Continued) | ||||||||
United Rentals, Inc.* |
2,192 | $ | 704,991 | |||||
Verisk Analytics, Inc. |
4,899 | 868,789 | ||||||
W.W. Grainger, Inc. |
1,321 | 630,196 | ||||||
Waste Management, Inc. |
11,755 | 1,697,422 | ||||||
Westinghouse Air Brake Technologies Corp. |
5,728 | 531,673 | ||||||
Xylem, Inc. |
5,355 | 476,327 | ||||||
|
|
|||||||
(Cost $50,728,846) |
55,876,171 | |||||||
|
|
|||||||
Information Technology — 31.0% | ||||||||
Accenture PLC, Class A |
19,261 | 6,086,861 | ||||||
Adobe, Inc.* |
14,444 | 6,755,170 | ||||||
Advanced Micro Devices, Inc.* |
49,751 | 6,136,288 | ||||||
Akamai Technologies, Inc.* |
4,912 | 531,773 | ||||||
Amphenol Corp., Class A |
18,101 | 1,375,857 | ||||||
Analog Devices, Inc. |
16,249 | 2,604,552 | ||||||
ANSYS, Inc.* |
2,635 | 854,241 | ||||||
Apple, Inc. |
474,034 | 78,272,494 | ||||||
Applied Materials, Inc. |
27,778 | 3,727,808 | ||||||
Arista Networks, Inc.* |
6,727 | 825,605 | ||||||
Autodesk, Inc.* |
6,650 | 1,464,530 | ||||||
Cisco Systems, Inc. |
127,916 | 7,133,875 | ||||||
Corning, Inc. |
23,283 | 940,633 | ||||||
DXC Technology Co.* |
7,482 | 254,613 | ||||||
Hewlett Packard Enterprise Co. |
39,488 | 628,649 | ||||||
HP, Inc. |
35,099 | 1,206,002 | ||||||
Intel Corp. |
123,143 | 5,873,921 | ||||||
Intuit, Inc. |
8,587 | 4,073,415 | ||||||
Juniper Networks, Inc. |
9,779 | 330,433 | ||||||
Keysight Technologies, Inc.* |
5,657 | 890,242 | ||||||
KLA Corp. |
4,654 | 1,621,919 | ||||||
Lam Research Corp. |
4,350 | 2,441,873 | ||||||
Mastercard, Inc., Class A |
26,393 | 9,523,122 | ||||||
Micron Technology, Inc. |
33,884 | 3,010,932 | ||||||
Microsoft Corp. |
228,367 | 68,233,776 | ||||||
Motorola Solutions, Inc. |
5,173 | 1,140,284 | ||||||
NortonLifeLock, Inc. |
17,288 | 501,006 | ||||||
NVIDIA Corp. |
76,041 | 18,542,598 | ||||||
Oracle Corp. |
49,121 | 3,731,722 | ||||||
QUALCOMM, Inc. |
34,401 | 5,916,628 | ||||||
salesforce.com, Inc.* |
29,817 | 6,277,373 | ||||||
Seagate Technology Holdings PLC |
6,071 | 626,284 | ||||||
TE Connectivity Ltd. |
10,050 | 1,431,422 | ||||||
Texas Instruments, Inc. |
28,019 | 4,762,950 | ||||||
Trimble, Inc.* |
7,581 | 528,775 | ||||||
Visa, Inc., Class A (a) |
51,134 | 11,051,080 | ||||||
Zebra Technologies Corp., Class A* |
1,660 | 686,144 | ||||||
|
|
|||||||
(Cost $227,170,446) |
269,994,850 | |||||||
|
|
|||||||
Materials — 2.5% | ||||||||
Air Products and Chemicals, Inc. |
6,667 | 1,575,412 | ||||||
Albemarle Corp. |
3,530 | 691,492 | ||||||
Ball Corp. |
9,974 | 895,067 | ||||||
CF Industries Holdings, Inc. |
6,247 | 507,194 | ||||||
Corteva, Inc. |
22,521 | 1,171,768 | ||||||
Dow, Inc. |
22,539 | 1,328,899 | ||||||
Eastman Chemical Co. |
4,302 | 509,658 |
Number |
Value |
|||||||
Materials (Continued) | ||||||||
Ecolab, Inc. |
7,503 | $ | 1,322,479 | |||||
FMC Corp. |
3,926 | 460,323 | ||||||
Freeport-McMoRan, Inc. |
44,283 | 2,079,087 | ||||||
International Flavors & Fragrances, Inc. |
7,517 | 999,761 | ||||||
International Paper Co. |
11,861 | 516,309 | ||||||
Linde PLC |
15,669 | 4,594,777 | ||||||
LyondellBasell Industries NV, Class A |
7,827 | 761,019 | ||||||
Martin Marietta Materials, Inc. |
1,862 | 706,443 | ||||||
Mosaic Co. |
10,483 | 549,624 | ||||||
Newmont Corp. |
24,263 | 1,606,211 | ||||||
PPG Industries, Inc. |
7,131 | 951,632 | ||||||
Westrock Co. |
7,968 | 360,711 | ||||||
|
|
|||||||
(Cost $19,685,589) |
21,587,866 | |||||||
|
|
|||||||
Real Estate — 2.5% | ||||||||
American Tower Corp. REIT |
13,712 | 3,110,841 | ||||||
AvalonBay Communities, Inc. REIT |
4,277 | 1,020,449 | ||||||
Boston Properties, Inc. REIT |
4,333 | 529,969 | ||||||
CBRE Group, Inc., Class A* |
10,496 | 1,016,538 | ||||||
Digital Realty Trust, Inc. REIT |
8,473 | 1,143,177 | ||||||
Duke Realty Corp. REIT |
11,371 | 602,663 | ||||||
Equinix, Inc. REIT |
2,687 | 1,907,044 | ||||||
Equity Residential REIT |
10,445 | 890,958 | ||||||
Essex Property Trust, Inc. REIT |
1,933 | 613,090 | ||||||
Extra Space Storage, Inc. REIT |
3,991 | 750,907 | ||||||
Healthpeak Properties, Inc. REIT |
16,495 | 512,335 | ||||||
Host Hotels & Resorts, Inc. REIT* |
21,532 | 393,390 | ||||||
Iron Mountain, Inc. REIT |
9,484 | 466,423 | ||||||
Kimco Realty Corp. REIT |
18,161 | 427,328 | ||||||
Prologis, Inc. REIT |
22,434 | 3,271,999 | ||||||
Realty Income Corp. REIT |
16,644 | 1,100,002 | ||||||
Regency Centers Corp. REIT |
4,521 | 297,889 | ||||||
Simon Property Group, Inc. REIT |
10,018 | 1,378,076 | ||||||
Ventas, Inc. REIT |
11,921 | 643,734 | ||||||
Vornado Realty Trust REIT |
4,342 | 187,922 | ||||||
Welltower, Inc. REIT |
13,230 | 1,101,927 | ||||||
Weyerhaeuser Co. REIT |
22,742 | 884,209 | ||||||
|
|
|||||||
(Cost $20,646,965) |
22,250,870 | |||||||
|
|
|||||||
Utilities — 1.5% | ||||||||
American Water Works Co., Inc. |
5,550 | 838,549 | ||||||
Consolidated Edison, Inc. |
10,688 | 916,710 | ||||||
Edison International |
11,471 | 727,491 | ||||||
Entergy Corp. |
6,075 | 639,151 | ||||||
Eversource Energy |
10,422 | 852,519 | ||||||
Exelon Corp. |
29,435 | 1,252,754 | ||||||
FirstEnergy Corp. |
16,436 | 687,847 | ||||||
NextEra Energy, Inc. |
59,384 | 4,647,986 | ||||||
Public Service Enterprise Group, Inc. |
15,311 | 992,612 | ||||||
Sempra Energy |
9,573 | 1,380,618 | ||||||
|
|
|||||||
(Cost $12,059,791) |
12,936,237 | |||||||
|
|
|||||||
TOTAL
COMMON STOCKS |
867,764,572 | |||||||
|
|
See Notes to Financial Statements. | 47 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P 500 ESG ETF (Continued)
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
CASH EQUIVALENTS — 0.1% | ||||||||
DWS
Government Money Market Series “Institutional Shares”,
0.04% (b) |
451,432 | $ | 451,432 | |||||
|
|
|||||||
TOTAL INVESTMENTS — 99.9% (Cost $765,902,330) |
$ | 868,216,004 | ||||||
Other assets and liabilities, net — 0.1% |
1,016,235 | |||||||
|
|
|||||||
NET ASSETS — 100.0% |
$ | 869,232,239 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2022 is as follows:
Value ($) at 8/31/2021 |
Purchases Cost ($) |
Sales Proceeds ($) |
Net Realized Gain/(Loss) ($) |
Net Change in Unrealized Appreciation (Depreciation) ($) |
Income ($) | Capital Gain Distributions ($) |
Number of Shares at 2/28/2022 |
Value ($) at 2/28/2022 |
||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 0.0% |
| |||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (b)(c) |
| |||||||||||||||||||||||||||||||||||
107,727 | — | (107,727 | )(d) | — | — | 3 | — | — | — | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.1% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (b) |
| |||||||||||||||||||||||||||||||||||
1,353,973 | 7,391,417 | (8,293,958 | ) | — | — | 206 | — | 451,432 | 451,432 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
1,461,700 | 7,391,417 | (8,401,685 | ) | — | — | 209 | — | 451,432 | 451,432 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
Non-income producing security. |
(a) |
All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2022 amounted to $1,251,335, which is 0.1% 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 collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund held non-cash U.S. Treasury securities collateral having a value of $1,295,096. |
(d) |
Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2022. |
REIT: | Real Estate Investment Trust |
At February 28, 2022, open futures contracts purchased were as follows:
Contract Description |
Currency | Number of Contracts |
Notional Amount |
Contract Value |
Expiration Date |
Unrealized Depreciation |
||||||||||||||||||
E-Mini S&P 500 ESG Futures |
USD | 6 | $ | 1,172,720 | $ | 1,147,500 | 3/18/2022 | $ | (25,220 | ) | ||||||||||||||
S&P 500 E-Mini Futures |
USD | 1 | 228,625 | 218,400 | 3/18/2022 | (10,225 | ) | |||||||||||||||||
|
|
|||||||||||||||||||||||
Total unrealized depreciation |
$ | (35,445 | ) | |||||||||||||||||||||
|
|
For information on the Fund’s policy and additional disclosures regarding open futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
Currency Abbreviations
USD | U.S. Dollar |
See Notes to Financial Statements. | 48 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P 500 ESG ETF (Continued)
February 28, 2022 (Unaudited)
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2022 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 (e) |
$ | 867,764,572 | $ | — | $ | — | $ | 867,764,572 | ||||||||
Short-Term Investments (e) |
451,432 | — | — | 451,432 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
TOTAL |
$ | 868,216,004 | $ | — | $ | — | $ | 868,216,004 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Liabilities |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Derivatives (f) |
||||||||||||||||
Futures Contracts |
$ | (35,445 | ) | $ | — | $ | — | $ | (35,445 | ) | ||||||
|
|
|
|
|
|
|
|
|||||||||
TOTAL |
$ | (35,445 | ) | $ | — | $ | — | $ | (35,445 | ) | ||||||
|
|
|
|
|
|
|
|
(e) |
See Schedule of Investments for additional detailed categorizations. |
(f) |
Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
See Notes to Financial Statements. | 49 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P MidCap 400 ESG ETF
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
COMMON STOCKS — 99.4% | ||||||||
Communication Services — 2.0% | ||||||||
Cable One, Inc. |
36 | $ | 51,583 | |||||
Iridium Communications, Inc.* |
928 | 36,739 | ||||||
New York Times Co., Class A |
1,185 | 52,128 | ||||||
TEGNA, Inc. |
1,565 | 35,870 | ||||||
TripAdvisor, Inc.* |
705 | 17,935 | ||||||
Yelp, Inc.* |
495 | 16,776 | ||||||
|
|
|||||||
(Cost $245,046) |
211,031 | |||||||
|
|
|||||||
Consumer Discretionary — 15.3% | ||||||||
American Eagle Outfitters, Inc. (a) |
1,092 | 23,019 | ||||||
AutoNation, Inc.* |
293 | 33,595 | ||||||
Brunswick Corp. |
554 | 52,918 | ||||||
Capri Holdings Ltd.* |
1,077 | 72,956 | ||||||
Carter’s, Inc. |
299 | 28,907 | ||||||
Columbia Sportswear Co. |
250 | 23,180 | ||||||
Cracker Barrel Old Country Store, Inc. |
170 | 22,826 | ||||||
Dana, Inc. |
1,048 | 19,514 | ||||||
Deckers Outdoor Corp.* |
196 | 56,573 | ||||||
Dick’s Sporting Goods, Inc. (a) |
461 | 48,405 | ||||||
Foot Locker, Inc. |
644 | 20,363 | ||||||
Gentex Corp. |
1,692 | 51,217 | ||||||
Goodyear Tire & Rubber Co.* |
1,990 | 30,825 | ||||||
Graham Holdings Co., Class B |
28 | 16,832 | ||||||
Grand Canyon Education, Inc.* |
300 | 26,049 | ||||||
H&R Block, Inc. |
1,248 | 30,963 | ||||||
Harley-Davidson, Inc. |
1,109 | 45,802 | ||||||
Helen of Troy Ltd.* |
171 | 35,170 | ||||||
KB Home |
598 | 23,089 | ||||||
Kohl’s Corp. |
1,078 | 59,958 | ||||||
Lear Corp. |
427 | 67,184 | ||||||
Lithia Motors, Inc. |
217 | 73,958 | ||||||
Mattel, Inc.* |
2,509 | 62,675 | ||||||
Murphy USA, Inc. |
167 | 30,184 | ||||||
Nordstrom, Inc.* |
813 | 16,862 | ||||||
Papa John’s International, Inc. |
230 | 24,569 | ||||||
Polaris, Inc. |
402 | 48,847 | ||||||
RH* |
123 | 49,430 | ||||||
Service Corp. International |
1,181 | 71,864 | ||||||
Six Flags Entertainment Corp.* |
554 | 24,188 | ||||||
Tempur Sealy International, Inc. |
1,364 | 45,026 | ||||||
Texas Roadhouse, Inc. |
502 | 47,645 | ||||||
Thor Industries, Inc. (a) |
389 | 35,204 | ||||||
Toll Brothers, Inc. |
836 | 45,361 | ||||||
Travel + Leisure Co. |
619 | 34,695 | ||||||
Urban Outfitters, Inc.* |
465 | 12,792 | ||||||
Visteon Corp.* |
202 | 24,274 | ||||||
Wendy’s Co. |
1,264 | 28,743 | ||||||
Williams-Sonoma, Inc. |
532 | 77,066 | ||||||
Wingstop, Inc. |
210 | 30,523 | ||||||
Wyndham Hotels & Resorts, Inc. |
668 | 57,722 | ||||||
|
|
|||||||
(Cost $1,646,060) |
1,630,973 | |||||||
|
|
|||||||
Consumer Staples — 3.5% | ||||||||
BJ’s Wholesale Club Holdings, Inc.* |
966 | 60,732 | ||||||
Boston Beer Co., Inc., Class A* |
70 | 26,842 | ||||||
Coty, Inc., Class A* |
2,398 | 21,990 |
Number |
Value |
|||||||
Consumer Staples (Continued) | ||||||||
Darling Ingredients, Inc.* |
1,168 | $ | 84,657 | |||||
Flowers Foods, Inc. |
1,400 | 38,374 | ||||||
Hain Celestial Group, Inc.* |
678 | 24,652 | ||||||
Ingredion, Inc. |
474 | 42,063 | ||||||
Nu Skin Enterprises, Inc., Class A |
353 | 16,376 | ||||||
Pilgrim’s Pride Corp.* |
347 | 8,182 | ||||||
Sanderson Farms, Inc. |
152 | 27,146 | ||||||
Sprouts Farmers Market, Inc.* |
801 | 22,812 | ||||||
|
|
|||||||
(Cost $368,296) |
373,826 | |||||||
|
|
|||||||
Energy — 1.2% | ||||||||
CNX Resources Corp.* |
1,501 | 24,526 | ||||||
EQT Corp. |
2,186 | 50,584 | ||||||
Equitrans Midstream Corp. |
2,904 | 18,615 | ||||||
Murphy Oil Corp. |
1,034 | 35,849 | ||||||
|
|
|||||||
(Cost $99,426) |
129,574 | |||||||
|
|
|||||||
Financials — 15.6% | ||||||||
Affiliated Managers Group, Inc. |
288 | 39,848 | ||||||
Alleghany Corp.* |
99 | 65,530 | ||||||
Associated Banc-Corp. |
1,083 | 26,414 | ||||||
Bank of Hawaii Corp. |
292 | 25,165 | ||||||
Bank OZK |
865 | 40,672 | ||||||
Cadence Bank |
1,415 | 44,742 | ||||||
CNO Financial Group, Inc. |
892 | 21,560 | ||||||
Commerce Bancshares, Inc. |
797 | 57,209 | ||||||
East West Bancorp, Inc. |
1,017 | 89,048 | ||||||
Essent Group Ltd. |
784 | 34,637 | ||||||
Evercore, Inc., Class A |
278 | 35,309 | ||||||
First American Financial Corp. |
788 | 52,827 | ||||||
First Horizon Corp. |
3,859 | 90,609 | ||||||
FNB Corp. |
2,440 | 32,769 | ||||||
Fulton Financial Corp. |
1,165 | 20,993 | ||||||
Hancock Whitney Corp. |
616 | 34,299 | ||||||
Hanover Insurance Group, Inc. |
265 | 36,970 | ||||||
Interactive Brokers Group, Inc., Class A |
620 | 41,032 | ||||||
Janus Henderson Group PLC |
1,205 | 40,452 | ||||||
Kemper Corp. |
427 | 22,819 | ||||||
MGIC Investment Corp. |
2,305 | 34,990 | ||||||
Navient Corp. |
1,142 | 20,111 | ||||||
New York Community Bancorp, Inc. |
3,268 | 37,713 | ||||||
PacWest Bancorp |
839 | 41,463 | ||||||
Pinnacle Financial Partners, Inc. |
540 | 54,583 | ||||||
Primerica, Inc. |
281 | 36,499 | ||||||
PROG Holdings, Inc.* |
409 | 12,532 | ||||||
Prosperity Bancshares, Inc. |
662 | 49,292 | ||||||
Reinsurance Group of America, Inc. |
479 | 53,102 | ||||||
RenaissanceRe Holdings Ltd. |
327 | 49,305 | ||||||
RLI Corp. |
282 | 28,623 | ||||||
SEI Investments Co. |
769 | 45,048 | ||||||
Selective Insurance Group, Inc. |
430 | 35,772 | ||||||
SLM Corp. |
2,080 | 40,976 | ||||||
Synovus Financial Corp. |
1,037 | 54,598 | ||||||
Texas Capital Bancshares, Inc.* |
364 | 24,242 | ||||||
UMB Financial Corp. |
308 | 31,373 | ||||||
Umpqua Holdings Corp. |
1,559 | 33,285 | ||||||
Webster Financial Corp. |
1,289 | 77,611 |
See Notes to Financial Statements. | 50 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P MidCap 400 ESG ETF (Continued)
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
Financials (Continued) | ||||||||
Wintrust Financial Corp. |
409 | $ | 40,638 | |||||
|
|
|||||||
(Cost $1,542,848) |
1,654,660 | |||||||
|
|
|||||||
Health Care — 8.5% | ||||||||
Acadia Healthcare Co., Inc.* |
656 | 37,202 | ||||||
Amedisys, Inc.* |
228 | 36,535 | ||||||
Encompass Health Corp. |
711 | 46,940 | ||||||
Exelixis, Inc.* |
2,308 | 47,383 | ||||||
Haemonetics Corp.* |
357 | 20,603 | ||||||
ICU Medical, Inc.* |
145 | 34,326 | ||||||
Integra LifeSciences Holdings Corp.* |
514 | 34,469 | ||||||
Jazz Pharmaceuticals PLC* |
445 | 61,152 | ||||||
LHC Group, Inc.* |
225 | 30,638 | ||||||
LivaNova PLC* |
381 | 30,030 | ||||||
Masimo Corp.* |
366 | 57,627 | ||||||
Molina Healthcare, Inc.* |
420 | 128,885 | ||||||
Neurocrine Biosciences, Inc.* |
674 | 60,572 | ||||||
NuVasive, Inc.* |
372 | 20,133 | ||||||
Penumbra, Inc.* |
249 | 55,213 | ||||||
Quidel Corp.* |
276 | 29,198 | ||||||
Syneos Health, Inc.* |
734 | 58,133 | ||||||
Tenet Healthcare Corp.* |
759 | 65,266 | ||||||
United Therapeutics Corp.* |
320 | 53,184 | ||||||
|
|
|||||||
(Cost $981,467) |
907,489 | |||||||
|
|
|||||||
Industrials — 19.4% | ||||||||
Acuity Brands, Inc. |
246 | 44,863 | ||||||
AECOM |
1,032 | 74,985 | ||||||
AGCO Corp. |
440 | 52,870 | ||||||
Avis Budget Group, Inc.* |
285 | 52,280 | ||||||
Axon Enterprise, Inc.* |
465 | 65,216 | ||||||
Brink’s Co. |
351 | 24,591 | ||||||
Carlisle Cos., Inc. |
375 | 89,025 | ||||||
Clean Harbors, Inc.* |
365 | 34,832 | ||||||
Colfax Corp.* |
972 | 39,084 | ||||||
Crane Co. |
355 | 35,883 | ||||||
Curtiss-Wright Corp. |
286 | 42,191 | ||||||
Donaldson Co., Inc. |
889 | 48,246 | ||||||
Dycom Industries, Inc.* |
223 | 19,414 | ||||||
EMCOR Group, Inc. |
379 | 43,790 | ||||||
EnerSys |
303 | 22,037 | ||||||
Flowserve Corp. |
935 | 28,396 | ||||||
FTI Consulting, Inc.* |
241 | 35,186 | ||||||
Graco, Inc. |
1,220 | 87,950 | ||||||
Hexcel Corp. |
596 | 34,508 | ||||||
Hubbell, Inc. |
389 | 69,339 | ||||||
Insperity, Inc. |
255 | 22,937 | ||||||
ITT, Inc. |
608 | 53,425 | ||||||
KBR, Inc. |
1,015 | 50,385 | ||||||
Kennametal, Inc. |
593 | 18,804 | ||||||
Kirby Corp.* |
432 | 28,145 | ||||||
Lincoln Electric Holdings, Inc. |
424 | 54,043 | ||||||
ManpowerGroup, Inc. |
391 | 41,556 | ||||||
MasTec, Inc.* |
405 | 31,898 | ||||||
Mercury Systems, Inc.* |
402 | 24,209 | ||||||
Middleby Corp.* |
394 | 69,982 | ||||||
MillerKnoll, Inc. |
541 | 21,034 |
Number |
Value |
|||||||
Industrials (Continued) | ||||||||
MSA Safety, Inc. |
258 | $ | 35,888 | |||||
Oshkosh Corp. |
487 | 54,077 | ||||||
Owens Corning |
716 | 66,724 | ||||||
Regal Rexnord Corp. |
489 | 78,411 | ||||||
Ryder System, Inc. |
386 | 30,432 | ||||||
Science Applications International Corp. |
407 | 35,690 | ||||||
Stericycle, Inc.* |
662 | 38,634 | ||||||
Terex Corp. |
498 | 20,557 | ||||||
Tetra Tech, Inc. |
384 | 60,968 | ||||||
Timken Co. |
495 | 32,452 | ||||||
Toro Co. |
763 | 71,577 | ||||||
Trinity Industries, Inc. |
581 | 16,768 | ||||||
Univar Solutions, Inc.* |
1,224 | 37,589 | ||||||
Werner Enterprises, Inc. |
437 | 18,992 | ||||||
Woodward, Inc. |
455 | 56,707 | ||||||
XPO Logistics, Inc.* |
707 | 51,385 | ||||||
|
|
|||||||
(Cost $1,943,182) |
2,067,955 | |||||||
|
|
|||||||
Information Technology — 13.1% | ||||||||
ACI Worldwide, Inc.* |
837 | 28,056 | ||||||
Alliance Data Systems Corp. |
352 | 23,742 | ||||||
Amkor Technology, Inc. |
714 | 16,186 | ||||||
Arrow Electronics, Inc.* |
496 | 60,453 | ||||||
Avnet, Inc. |
709 | 29,828 | ||||||
Belden, Inc. |
320 | 18,032 | ||||||
Blackbaud, Inc.* |
318 | 19,872 | ||||||
Ciena Corp.* |
1,110 | 75,946 | ||||||
CMC Materials, Inc. |
203 | 37,642 | ||||||
Cognex Corp. |
1,268 | 85,666 | ||||||
Coherent, Inc.* |
176 | 46,520 | ||||||
CommVault Systems, Inc.* |
323 | 20,320 | ||||||
Fair Isaac Corp.* |
196 | 92,353 | ||||||
First Solar, Inc.* |
702 | 52,854 | ||||||
Jabil, Inc. |
1,029 | 59,487 | ||||||
Littelfuse, Inc. |
177 | 45,703 | ||||||
LiveRamp Holdings, Inc.* |
483 | 20,846 | ||||||
Manhattan Associates, Inc.* |
449 | 60,022 | ||||||
Maximus, Inc. |
440 | 34,698 | ||||||
National Instruments Corp. |
942 | 37,821 | ||||||
Paylocity Holding Corp.* |
285 | 60,545 | ||||||
Qualys, Inc.* |
238 | 29,824 | ||||||
Semtech Corp.* |
454 | 31,499 | ||||||
Silicon Laboratories, Inc.* |
286 | 43,961 | ||||||
Synaptics, Inc.* |
278 | 63,504 | ||||||
TD SYNNEX Corp. |
293 | 29,836 | ||||||
Teradata Corp.* |
772 | 38,592 | ||||||
Universal Display Corp. |
315 | 48,797 | ||||||
Viasat, Inc.* |
531 | 24,235 | ||||||
WEX, Inc.* |
319 | 53,755 | ||||||
Wolfspeed, Inc.* |
834 | 85,668 | ||||||
Xerox Holdings Corp. |
974 | 19,198 | ||||||
|
|
|||||||
(Cost $1,403,005) |
1,395,461 | |||||||
|
|
|||||||
Materials — 7.5% | ||||||||
AptarGroup, Inc. |
476 | 58,015 | ||||||
Ashland Global Holdings, Inc. |
410 | 37,835 | ||||||
Avient Corp. |
647 | 33,896 |
See Notes to Financial Statements. | 51 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P MidCap 400 ESG ETF (Continued)
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
Materials (Continued) | ||||||||
Cabot Corp. |
411 | $ | 30,069 | |||||
Chemours Co. |
1,156 | 31,906 | ||||||
Cleveland-Cliffs, Inc.* |
3,257 | 72,827 | ||||||
Commercial Metals Co. |
844 | 32,536 | ||||||
Eagle Materials, Inc. |
289 | 39,544 | ||||||
Greif, Inc., Class A |
194 | 11,153 | ||||||
Ingevity Corp.* |
278 | 18,968 | ||||||
Minerals Technologies, Inc. |
250 | 17,497 | ||||||
Olin Corp. |
1,020 | 52,540 | ||||||
RPM International, Inc. |
935 | 79,073 | ||||||
Scotts Miracle-Gro Co. |
290 | 40,617 | ||||||
Sonoco Products Co. |
702 | 41,221 | ||||||
Steel Dynamics, Inc. |
1,349 | 95,212 | ||||||
United States Steel Corp. |
1,917 | 52,162 | ||||||
Valvoline, Inc. |
1,275 | 41,221 | ||||||
Worthington Industries, Inc. |
238 | 13,571 | ||||||
|
|
|||||||
(Cost $725,949) |
799,863 | |||||||
|
|
|||||||
Real Estate — 11.8% | ||||||||
American Campus Communities, Inc. REIT |
1,000 | 53,810 | ||||||
Brixmor Property Group, Inc. REIT |
2,133 | 53,581 | ||||||
Camden Property Trust REIT |
734 | 121,191 | ||||||
Corporate Office Properties Trust REIT |
810 | 21,230 | ||||||
Cousins Properties, Inc. REIT |
1,053 | 40,677 | ||||||
CyrusOne, Inc. REIT |
909 | 82,128 | ||||||
Douglas Emmett, Inc. REIT |
1,247 | 39,530 | ||||||
Healthcare Realty Trust, Inc. REIT |
1,048 | 27,332 | ||||||
Highwoods Properties, Inc. REIT |
753 | 32,831 | ||||||
Hudson Pacific Properties, Inc. REIT |
1,078 | 28,459 | ||||||
JBG SMITH Properties REIT |
797 | 21,264 | ||||||
Jones Lang LaSalle, Inc.* |
362 | 89,132 | ||||||
Kilroy Realty Corp. REIT |
753 | 53,930 | ||||||
Life Storage, Inc. REIT |
589 | 74,561 | ||||||
Macerich Co. REIT (a) |
1,531 | 23,424 | ||||||
Medical Properties Trust, Inc. REIT |
4,279 | 87,035 |
Number |
Value |
|||||||
Real Estate (Continued) | ||||||||
National Retail Properties, Inc. REIT |
1,246 | $ | 53,092 | |||||
Park Hotels & Resorts, Inc. REIT* |
1,677 | 31,595 | ||||||
Pebblebrook Hotel Trust REIT |
950 | 21,384 | ||||||
PotlatchDeltic Corp. REIT |
478 | 26,242 | ||||||
PS Business Parks, Inc. REIT |
144 | 22,938 | ||||||
Rayonier, Inc. REIT |
1,028 | 40,812 | ||||||
Rexford Industrial Realty, Inc. REIT |
1,075 | 75,390 | ||||||
SL Green Realty Corp. REIT |
476 | 37,852 | ||||||
Spirit Realty Capital, Inc. REIT |
881 | 40,852 | ||||||
STORE Capital Corp. REIT |
1,763 | 54,159 | ||||||
|
|
|||||||
(Cost $1,127,739) |
1,254,431 | |||||||
|
|
|||||||
Utilities — 1.5% | ||||||||
Hawaiian Electric Industries, Inc. |
775 | 31,759 | ||||||
National Fuel Gas Co. |
665 | 41,390 | ||||||
New Jersey Resources Corp. |
688 | 30,011 | ||||||
Southwest Gas Holdings, Inc. |
424 | 30,079 | ||||||
Spire, Inc. |
367 | 24,629 | ||||||
|
|
|||||||
(Cost $139,754) |
157,868 | |||||||
|
|
|||||||
TOTAL
COMMON STOCKS |
10,583,131 | |||||||
|
|
|||||||
EXCHANGE-TRADED FUNDS — 0.5% | ||||||||
iShares
ESG Screened S&P Mid-Cap
ETF |
1,600 | 58,102 | ||||||
|
|
|||||||
CASH EQUIVALENTS — 0.1% | ||||||||
DWS
Government Money Market Series “Institutional Shares”, 0.04% (b) |
9,786 | 9,786 | ||||||
|
|
|||||||
TOTAL INVESTMENTS — 100.0% (Cost $10,291,403) |
$ | 10,651,019 | ||||||
Other assets and liabilities, net — (0.0)% |
(2,141 | ) | ||||||
|
|
|||||||
NET ASSETS — 100.0% |
$ | 10,648,878 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2022 is as follows:
Value ($) at 8/31/2021 |
Purchases Cost ($) |
Sales Proceeds ($) |
Net Realized Gain/(Loss) ($) |
Net Change in Unrealized Appreciation (Depreciation) ($) |
Income ($) | Capital Gain Distributions ($) |
Number of Shares at 2/28/2022 |
Value ($) at 2/28/2022 |
||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 0.0% |
|
|||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (b)(c) |
| |||||||||||||||||||||||||||||||||||
1,305 | — | (1,305 | )(d) | — | — | — | — | — | — | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.1% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (b) |
| |||||||||||||||||||||||||||||||||||
10,177 | 200,751 | (201,142 | ) | — | — | 1 | — | 9,786 | 9,786 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
11,482 | 200,751 | (202,447 | ) | — | — | 1 | — | 9,786 | 9,786 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
Non-income producing security. |
(a) |
All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2022 amounted to $123,386, which is 1.2% of net assets. |
(b) |
Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
See Notes to Financial Statements. | 52 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P MidCap 400 ESG ETF (Continued)
February 28, 2022 (Unaudited)
(c) |
Represents collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund held non-cash U.S. Treasury securities collateral having a value of $135,638. |
(d) |
Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2022. |
REIT: | Real Estate Investment Trust |
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2022 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 (e) |
$ | 10,583,131 | $ | — | $ | — | $ | 10,583,131 | ||||||||
Exchange-Traded Funds |
58,102 | — | — | 58,102 | ||||||||||||
Short-Term Investments (e) |
9,786 | — | — | 9,786 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
TOTAL |
$ | 10,651,019 | $ | — | $ | — | $ | 10,651,019 | ||||||||
|
|
|
|
|
|
|
|
(e) |
See Schedule of Investments for additional detailed categorizations. |
See Notes to Financial Statements. | 53 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P SmallCap 600 ESG ETF
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
COMMON STOCKS — 99.7% | ||||||||
Communication Services — 1.1% | ||||||||
ATN International, Inc. |
154 | $ | 5,133 | |||||
Consolidated Communications Holdings, Inc.* |
1,076 | 7,661 | ||||||
EW Scripps Co., Class A* |
900 | 20,034 | ||||||
Marcus Corp.* |
316 | 5,745 | ||||||
QuinStreet, Inc.* |
742 | 8,347 | ||||||
Scholastic Corp. |
448 | 18,852 | ||||||
Shenandoah Telecommunications Co. |
744 | 16,628 | ||||||
TechTarget, Inc.* |
397 | 31,117 | ||||||
|
|
|||||||
(Cost $132,370) |
113,517 | |||||||
|
|
|||||||
Consumer Discretionary — 12.5% | ||||||||
Abercrombie & Fitch Co., Class A* |
909 | 34,615 | ||||||
American Axle & Manufacturing Holdings, Inc.* |
1,689 | 15,640 | ||||||
American Public Education, Inc.* |
306 | 6,108 | ||||||
Asbury Automotive Group, Inc.* |
351 | 68,133 | ||||||
Bed Bath & Beyond, Inc.* (a) |
1,522 | 25,707 | ||||||
Big Lots, Inc. |
507 | 17,623 | ||||||
Bloomin’ Brands, Inc.* |
1,213 | 29,852 | ||||||
Boot Barn Holdings, Inc.* |
451 | 39,246 | ||||||
Brinker International, Inc.* |
699 | 29,735 | ||||||
Buckle, Inc. (a) |
440 | 15,840 | ||||||
Caleres, Inc. |
596 | 12,373 | ||||||
Cato Corp., Class A |
267 | 4,699 | ||||||
Cheesecake Factory, Inc.* |
746 | 31,921 | ||||||
Chico’s FAS, Inc.* |
1,788 | 8,404 | ||||||
Children’s Place, Inc.* |
208 | 13,096 | ||||||
Cooper-Standard Holdings, Inc.* |
251 | 3,193 | ||||||
Designer Brands, Inc., Class A* |
908 | 11,849 | ||||||
Dine Brands Global, Inc. |
258 | 21,631 | ||||||
Ethan Allen Interiors, Inc. |
356 | 9,277 | ||||||
Fiesta Restaurant Group, Inc.* |
283 | 2,850 | ||||||
Fossil Group, Inc.* |
685 | 9,261 | ||||||
Genesco, Inc.* |
212 | 13,600 | ||||||
Gentherm, Inc.* |
506 | 42,929 | ||||||
G-III Apparel Group Ltd.* |
655 | 18,170 | ||||||
Group 1 Automotive, Inc. |
275 | 50,031 | ||||||
Guess?, Inc. (a) |
609 | 13,337 | ||||||
Hibbett, Inc. (a) |
235 | 10,594 | ||||||
Installed Building Products, Inc. |
360 | 34,812 | ||||||
iRobot Corp.* |
407 | 25,299 | ||||||
Kontoor Brands, Inc. |
731 | 36,214 | ||||||
La-Z-Boy, Inc. |
666 | 19,434 | ||||||
LCI Industries |
383 | 47,691 | ||||||
MarineMax, Inc.* |
321 | 14,689 | ||||||
MDC Holdings, Inc. |
862 | 38,221 | ||||||
Meritage Homes Corp.* |
564 | 55,599 | ||||||
ODP Corp.* |
688 | 30,272 | ||||||
Oxford Industries, Inc. |
237 | 20,948 | ||||||
Perdoceo Education Corp.* |
1,101 | 11,527 | ||||||
Red Robin Gourmet Burgers, Inc.* |
218 | 3,826 | ||||||
Rent-A-Center, Inc. |
928 | 26,364 | ||||||
Ruth’s Hospitality Group, Inc. |
481 | 11,934 | ||||||
Sally Beauty Holdings, Inc.* |
1,741 | 30,084 | ||||||
Shake Shack, Inc., Class A* |
600 | 44,832 |
Number |
Value |
|||||||
Consumer Discretionary (Continued) | ||||||||
Shoe Carnival, Inc. |
273 | $ | 7,961 | |||||
Signet Jewelers Ltd. |
802 | 56,541 | ||||||
Sleep Number Corp.* |
349 | 22,929 | ||||||
Standard Motor Products, Inc. |
281 | 12,283 | ||||||
Steven Madden Ltd. |
1,160 | 49,486 | ||||||
Sturm Ruger & Co., Inc. |
266 | 19,261 | ||||||
Tupperware Brands Corp.* |
724 | 13,199 | ||||||
Unifi, Inc.* |
198 | 3,716 | ||||||
Universal Electronics, Inc.* |
193 | 6,413 | ||||||
Vera Bradley, Inc.* |
394 | 2,979 | ||||||
Vista Outdoor, Inc.* |
856 | 31,201 | ||||||
Winnebago Industries, Inc. (a) |
514 | 32,932 | ||||||
Wolverine World Wide, Inc. |
1,236 | 28,465 | ||||||
|
|
|||||||
(Cost $1,452,712) |
1,298,826 | |||||||
|
|
|||||||
Consumer Staples — 4.4% | ||||||||
Andersons, Inc. |
468 | 21,341 | ||||||
B&G Foods, Inc. (a) |
969 | 28,682 | ||||||
Calavo Growers, Inc. |
263 | 11,228 | ||||||
Cal-Maine Foods, Inc. |
577 | 25,544 | ||||||
Celsius Holdings, Inc.* |
585 | 37,376 | ||||||
Chefs’ Warehouse, Inc.* |
507 | 16,655 | ||||||
Coca-Cola Consolidated, Inc. |
70 | 34,785 | ||||||
Edgewell Personal Care Co. |
829 | 29,579 | ||||||
elf Beauty, Inc.* |
738 | 19,505 | ||||||
Fresh Del Monte Produce, Inc. |
488 | 12,629 | ||||||
J & J Snack Foods Corp. |
227 | 37,164 | ||||||
John B Sanfilippo & Son, Inc. |
135 | 10,735 | ||||||
Medifast, Inc. |
178 | 33,108 | ||||||
MGP Ingredients, Inc. |
184 | 14,648 | ||||||
Seneca Foods Corp., Class A* |
102 | 5,075 | ||||||
Simply Good Foods Co.* |
1,284 | 50,885 | ||||||
SpartanNash Co. |
543 | 15,280 | ||||||
United Natural Foods, Inc.* |
844 | 33,954 | ||||||
USANA Health Sciences, Inc.* |
177 | 15,578 | ||||||
|
|
|||||||
(Cost $428,161) |
453,751 | |||||||
|
|
|||||||
Energy — 4.4% | ||||||||
Callon Petroleum Co.* (a) |
727 | 40,974 | ||||||
Core Laboratories NV |
709 | 19,540 | ||||||
Helix Energy Solutions Group, Inc.* |
2,139 | 8,663 | ||||||
Helmerich & Payne, Inc. |
1,640 | 59,417 | ||||||
Laredo Petroleum, Inc.* (a) |
213 | 16,307 | ||||||
Par Pacific Holdings, Inc.* |
681 | 9,262 | ||||||
PBF Energy, Inc., Class A* |
1,436 | 23,866 | ||||||
Range Resources Corp.* |
3,783 | 86,820 | ||||||
Renewable Energy Group, Inc.* |
756 | 46,494 | ||||||
SM Energy Co. |
1,840 | 65,339 | ||||||
Southwestern Energy Co.* (a) |
15,363 | 76,661 | ||||||
|
|
|||||||
(Cost $333,337) |
453,343 | |||||||
|
|
|||||||
Financials — 18.5% | ||||||||
Ambac Financial Group, Inc.* |
708 | 9,084 | ||||||
Ameris Bancorp |
1,008 | 49,896 | ||||||
AMERISAFE, Inc. |
288 | 13,565 | ||||||
Assured Guaranty Ltd. |
1,064 | 65,936 | ||||||
Banc of California, Inc. |
813 | 15,975 | ||||||
BankUnited, Inc. |
1,357 | 59,979 |
See Notes to Financial Statements. | 54 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P SmallCap 600 ESG ETF (Continued)
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
Financials (Continued) | ||||||||
Banner Corp. |
520 | $ | 32,037 | |||||
Berkshire Hills Bancorp, Inc. |
736 | 22,890 | ||||||
Blucora, Inc.* |
762 | 15,164 | ||||||
Brightsphere Investment Group, Inc. |
535 | 12,770 | ||||||
Central Pacific Financial Corp. |
432 | 12,610 | ||||||
City Holding Co. |
234 | 18,643 | ||||||
Columbia Banking System, Inc. |
1,192 | 43,663 | ||||||
Community Bank System, Inc. |
818 | 59,665 | ||||||
Customers Bancorp, Inc.* |
456 | 28,067 | ||||||
Donnelley Financial Solutions, Inc.* |
441 | 14,156 | ||||||
Eagle Bancorp, Inc. |
477 | 28,582 | ||||||
eHealth, Inc.* |
353 | 5,486 | ||||||
Employers Holdings, Inc. |
421 | 16,360 | ||||||
Encore Capital Group, Inc.* |
377 | 24,878 | ||||||
Enova International, Inc.* |
562 | 22,913 | ||||||
First BanCorp |
3,113 | 43,956 | ||||||
First Financial Bancorp |
1,426 | 35,051 | ||||||
First Hawaiian, Inc. |
1,948 | 56,628 | ||||||
Franklin BSP Realty Trust, Inc. REIT |
656 | 8,659 | ||||||
Granite Point Mortgage Trust, Inc. REIT |
855 | 9,593 | ||||||
Green Dot Corp., Class A* |
820 | 23,493 | ||||||
Greenhill & Co., Inc. |
232 | 4,102 | ||||||
Hanmi Financial Corp. |
468 | 12,224 | ||||||
Heritage Financial Corp. |
546 | 14,316 | ||||||
Hilltop Holdings, Inc. |
921 | 28,477 | ||||||
HomeStreet, Inc. |
307 | 15,798 | ||||||
Hope Bancorp, Inc. |
1,801 | 30,545 | ||||||
Horace Mann Educators Corp. |
640 | 26,618 | ||||||
Independent Bank Corp. |
719 | 61,841 | ||||||
Independent Bank Group, Inc. |
562 | 43,358 | ||||||
Invesco Mortgage Capital, Inc. REIT |
4,644 | 10,124 | ||||||
Investors Bancorp, Inc. |
3,428 | 57,385 | ||||||
KKR Real Estate Finance Trust, Inc. REIT |
659 | 14,149 | ||||||
Meta Financial Group, Inc. |
474 | 26,255 | ||||||
National Bank Holdings Corp., Class A |
464 | 20,592 | ||||||
NBT Bancorp, Inc. |
647 | 24,825 | ||||||
New York Mortgage Trust, Inc. REIT |
5,653 | 19,842 | ||||||
NMI Holdings, Inc., Class A* |
1,311 | 30,337 | ||||||
Northfield Bancorp, Inc. |
656 | 10,299 | ||||||
Northwest Bancshares, Inc. |
1,942 | 27,343 | ||||||
OFG Bancorp |
764 | 21,530 | ||||||
Pacific Premier Bancorp, Inc. |
1,435 | 55,549 | ||||||
Palomar Holdings, Inc.* |
363 | 23,388 | ||||||
Park National Corp. |
222 | 29,761 | ||||||
PennyMac Mortgage Investment Trust REIT (a) |
1,448 | 22,589 | ||||||
Piper Sandler Cos. |
211 | 31,230 | ||||||
PRA Group, Inc.* |
658 | 29,367 | ||||||
Preferred Bank |
213 | 16,716 | ||||||
ProAssurance Corp. |
814 | 19,617 | ||||||
Provident Financial Services, Inc. |
1,148 | 27,242 | ||||||
Redwood Trust, Inc. REIT |
1,702 | 17,684 | ||||||
S&T Bancorp, Inc. |
584 | 18,157 | ||||||
Safety Insurance Group, Inc. |
214 | 17,856 | ||||||
Seacoast Banking Corp. of Florida |
894 | 32,765 | ||||||
Simmons First National Corp., Class A |
1,742 | 49,682 | ||||||
Southside Bancshares, Inc. |
496 | 20,678 |
Number |
Value |
|||||||
Financials (Continued) | ||||||||
Stewart Information Services Corp. |
400 | $ | 27,152 | |||||
Tompkins Financial Corp. |
179 | 14,159 | ||||||
Trupanion, Inc.* (a) |
523 | 46,876 | ||||||
United Community Banks, Inc. |
1,587 | 61,353 | ||||||
United Fire Group, Inc. |
332 | 9,167 | ||||||
Universal Insurance Holdings, Inc. |
398 | 4,601 | ||||||
Veritex Holdings, Inc. |
756 | 30,716 | ||||||
WisdomTree Investments, Inc. (a) |
1,571 | 8,845 | ||||||
WSFS Financial Corp. |
988 | 50,220 | ||||||
|
|
|||||||
(Cost $1,827,630) |
1,915,029 | |||||||
|
|
|||||||
Health Care — 11.7% | ||||||||
Addus HomeCare Corp.* |
239 | 20,325 | ||||||
Allscripts Healthcare Solutions, Inc.* (a) |
1,839 | 35,787 | ||||||
AMN Healthcare Services, Inc.* |
714 | 75,784 | ||||||
Amphastar Pharmaceuticals, Inc.* |
574 | 15,905 | ||||||
AngioDynamics, Inc.* |
585 | 13,765 | ||||||
Anika Therapeutics, Inc.* |
211 | 6,857 | ||||||
Artivion, Inc.* |
622 | 12,160 | ||||||
Cardiovascular Systems, Inc.* |
602 | 12,678 | ||||||
Coherus Biosciences, Inc.* |
961 | 11,330 | ||||||
Collegium Pharmaceutical, Inc.* |
527 | 10,261 | ||||||
Community Health Systems, Inc.* |
1,854 | 19,485 | ||||||
Computer Programs and Systems, Inc.* |
226 | 6,956 | ||||||
CONMED Corp. |
443 | 64,749 | ||||||
Corcept Therapeutics, Inc.* |
1,415 | 31,540 | ||||||
CorVel Corp.* |
140 | 22,268 | ||||||
Covetrus, Inc.* |
1,592 | 28,210 | ||||||
Cross Country Healthcare, Inc.* |
527 | 11,768 | ||||||
Cutera, Inc.* |
238 | 9,130 | ||||||
Cytokinetics, Inc.* |
1,273 | 44,962 | ||||||
Eagle Pharmaceuticals, Inc.* |
177 | 8,388 | ||||||
Enanta Pharmaceuticals, Inc.* |
273 | 19,225 | ||||||
Endo International PLC* (a) |
3,470 | 10,792 | ||||||
Ensign Group, Inc. |
795 | 66,812 | ||||||
Glaukos Corp.* |
717 | 39,657 | ||||||
Heska Corp.* |
162 | 23,004 | ||||||
Inogen, Inc.* |
304 | 10,607 | ||||||
Merit Medical Systems, Inc.* |
775 | 50,398 | ||||||
Myriad Genetics, Inc.* |
1,228 | 29,939 | ||||||
Natus Medical, Inc.* |
500 | 13,910 | ||||||
NextGen Healthcare, Inc.* |
858 | 16,757 | ||||||
Omnicell, Inc.* |
670 | 86,618 | ||||||
OraSure Technologies, Inc.* |
1,056 | 8,237 | ||||||
Orthofix Medical, Inc.* |
314 | 10,670 | ||||||
Owens & Minor, Inc. |
1,148 | 50,684 | ||||||
Pacira BioSciences, Inc.* (a) |
680 | 45,349 | ||||||
Phibro Animal Health Corp., Class A |
317 | 6,752 | ||||||
Prestige Consumer Healthcare, Inc.* |
764 | 45,481 | ||||||
RadNet, Inc.* |
658 | 16,233 | ||||||
REGENXBIO, Inc.* |
566 | 14,835 | ||||||
Select Medical Holdings Corp. |
1,626 | 37,642 | ||||||
Supernus Pharmaceuticals, Inc.* |
814 | 26,007 | ||||||
Surmodics, Inc.* |
212 | 9,515 | ||||||
Tabula Rasa HealthCare, Inc.* (a) |
352 | 2,006 | ||||||
Tactile Systems Technology, Inc.* |
299 | 6,088 | ||||||
Tivity Health, Inc.* |
688 | 18,769 |
See Notes to Financial Statements. | 55 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P SmallCap 600 ESG ETF (Continued)
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
Health Care (Continued) | ||||||||
US Physical Therapy, Inc. |
201 | $ | 18,486 | |||||
Vanda Pharmaceuticals, Inc.* |
876 | 9,951 | ||||||
Vericel Corp.* |
696 | 28,682 | ||||||
Xencor, Inc.* |
894 | 27,991 | ||||||
|
|
|||||||
(Cost $1,263,205) |
1,213,405 | |||||||
|
|
|||||||
Industrials — 17.8% | ||||||||
AAR Corp.* |
502 | 22,560 | ||||||
ABM Industries, Inc. |
1,031 | 46,220 | ||||||
AeroVironment, Inc.* |
347 | 24,654 | ||||||
Alamo Group, Inc. |
153 | 21,284 | ||||||
Albany International Corp., Class A |
496 | 43,559 | ||||||
Applied Industrial Technologies, Inc. |
582 | 58,840 | ||||||
ArcBest Corp. |
391 | 36,238 | ||||||
Arcosa, Inc. |
743 | 39,134 | ||||||
Astec Industries, Inc. |
349 | 17,380 | ||||||
Atlas Air Worldwide Holdings, Inc.* |
415 | 32,519 | ||||||
AZZ, Inc. |
365 | 17,969 | ||||||
Barnes Group, Inc. |
697 | 32,376 | ||||||
Boise Cascade Co. |
598 | 47,804 | ||||||
Brady Corp., Class A |
736 | 33,915 | ||||||
Chart Industries, Inc.* |
539 | 77,832 | ||||||
CIRCOR International, Inc.* |
311 | 8,378 | ||||||
Comfort Systems USA, Inc. |
548 | 47,117 | ||||||
CoreCivic, Inc.* |
1,812 | 16,507 | ||||||
Deluxe Corp. |
660 | 20,533 | ||||||
Encore Wire Corp. |
311 | 36,207 | ||||||
Enerpac Tool Group Corp. |
894 | 15,421 | ||||||
EnPro Industries, Inc. |
316 | 34,899 | ||||||
ESCO Technologies, Inc. |
388 | 26,993 | ||||||
Exponent, Inc. |
787 | 74,576 | ||||||
Federal Signal Corp. |
937 | 33,835 | ||||||
Forward Air Corp. |
413 | 42,613 | ||||||
Franklin Electric Co., Inc. |
587 | 49,637 | ||||||
GEO Group, Inc. REIT* |
1,777 | 10,591 | ||||||
GMS, Inc.* |
652 | 35,371 | ||||||
Granite Construction, Inc. |
705 | 21,340 | ||||||
Greenbrier Cos., Inc. |
488 | 21,682 | ||||||
Harsco Corp.* |
1,178 | 14,030 | ||||||
Heartland Express, Inc. |
735 | 10,555 | ||||||
Heidrick & Struggles International, Inc. |
307 | 13,124 | ||||||
Hillenbrand, Inc. |
1,109 | 52,910 | ||||||
HNI Corp. |
648 | 26,367 | ||||||
Hub Group, Inc., Class A* |
521 | 43,972 | ||||||
Interface, Inc. |
927 | 12,097 | ||||||
John Bean Technologies Corp. |
481 | 54,531 | ||||||
Kaman Corp. |
421 | 18,276 | ||||||
Kelly Services, Inc., Class A |
573 | 12,159 | ||||||
Lindsay Corp. |
164 | 21,518 | ||||||
Marten Transport Ltd. |
887 | 15,301 | ||||||
Matson, Inc. |
638 | 70,671 | ||||||
Meritor, Inc.* |
1,082 | 38,530 | ||||||
Mueller Industries, Inc. |
873 | 49,805 | ||||||
MYR Group, Inc.* |
260 | 23,335 | ||||||
National Presto Industries, Inc. |
73 | 5,803 | ||||||
Pitney Bowes, Inc. |
2,573 | 12,814 | ||||||
Powell Industries, Inc. |
139 | 2,938 |
Number |
Value |
|||||||
Industrials (Continued) | ||||||||
Proto Labs, Inc.* |
411 | $ | 23,111 | |||||
SPX Corp.* |
689 | 34,932 | ||||||
SPX FLOW, Inc. |
637 | 54,712 | ||||||
Standex International Corp. |
183 | 19,385 | ||||||
Tennant Co. |
278 | 21,901 | ||||||
Titan International, Inc.* |
854 | 9,565 | ||||||
Triumph Group, Inc.* |
995 | 24,915 | ||||||
UniFirst Corp. |
232 | 42,050 | ||||||
US Ecology, Inc.* |
474 | 22,487 | ||||||
Veritiv Corp.* |
215 | 23,042 | ||||||
Viad Corp.* |
324 | 11,321 | ||||||
Wabash National Corp. |
727 | 12,388 | ||||||
|
|
|||||||
(Cost $1,786,728) |
1,846,529 | |||||||
|
|
|||||||
Information Technology — 14.2% | ||||||||
8x8, Inc.* |
1,751 | 22,693 | ||||||
ADTRAN, Inc. |
736 | 15,154 | ||||||
Advanced Energy Industries, Inc. |
575 | 49,364 | ||||||
Agilysys, Inc.* |
297 | 12,483 | ||||||
Badger Meter, Inc. |
446 | 44,337 | ||||||
Benchmark Electronics, Inc. |
538 | 14,063 | ||||||
Bottomline Technologies DE, Inc.* |
579 | 32,795 | ||||||
Cohu, Inc.* |
724 | 22,574 | ||||||
CSG Systems International, Inc. |
492 | 30,366 | ||||||
CTS Corp. |
490 | 18,591 | ||||||
Diodes, Inc.* |
682 | 61,100 | ||||||
Ebix, Inc. |
353 | 10,417 | ||||||
EVERTEC, Inc. |
915 | 36,929 | ||||||
ExlService Holdings, Inc.* |
504 | 60,878 | ||||||
Extreme Networks, Inc.* |
1,935 | 22,233 | ||||||
Fabrinet* |
561 | 56,173 | ||||||
FARO Technologies, Inc.* |
284 | 15,546 | ||||||
FormFactor, Inc.* |
1,192 | 48,264 | ||||||
Ichor Holdings Ltd.* |
441 | 15,536 | ||||||
Insight Enterprises, Inc.* |
529 | 55,016 | ||||||
Itron, Inc.* |
691 | 32,940 | ||||||
Knowles Corp.* |
1,420 | 30,928 | ||||||
Kulicke & Soffa Industries, Inc. |
948 | 49,524 | ||||||
LivePerson, Inc.* |
979 | 19,854 | ||||||
MaxLinear, Inc.* |
1,070 | 65,645 | ||||||
Methode Electronics, Inc. |
570 | 26,015 | ||||||
NETGEAR, Inc.* |
446 | 11,868 | ||||||
OneSpan, Inc.* |
506 | 6,973 | ||||||
Onto Innovation, Inc.* |
745 | 64,226 | ||||||
PDF Solutions, Inc.* |
457 | 12,504 | ||||||
Plantronics, Inc.* |
644 | 18,141 | ||||||
Plexus Corp.* |
433 | 35,277 | ||||||
Progress Software Corp. |
667 | 29,401 | ||||||
Rogers Corp.* |
283 | 77,259 | ||||||
Sanmina Corp.* |
984 | 39,144 | ||||||
ScanSource, Inc.* |
386 | 12,190 | ||||||
SPS Commerce, Inc.* |
544 | 70,638 | ||||||
TTEC Holdings, Inc. |
272 | 21,624 | ||||||
TTM Technologies, Inc.* |
1,556 | 19,559 | ||||||
Unisys Corp.* |
1,006 | 21,498 | ||||||
Veeco Instruments, Inc.* |
777 | 22,199 | ||||||
Viavi Solutions, Inc.* |
3,600 | 59,040 |
See Notes to Financial Statements. | 56 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P SmallCap 600 ESG ETF (Continued)
February 28, 2022 (Unaudited)
Number |
Value |
|||||||
Information Technology (Continued) | ||||||||
Vonage Holdings Corp.* |
3,853 | $ | 78,293 | |||||
|
|
|||||||
(Cost $1,454,910) |
1,469,252 | |||||||
|
|
|||||||
Materials — 5.9% | ||||||||
AdvanSix, Inc. |
415 | 16,625 | ||||||
Allegheny Technologies, Inc.* |
1,909 | 49,138 | ||||||
American Vanguard Corp. |
438 | 6,601 | ||||||
Balchem Corp. |
489 | 67,648 | ||||||
Carpenter Technology Corp. |
740 | 28,409 | ||||||
Century Aluminum Co.* |
751 | 17,739 | ||||||
Clearwater Paper Corp.* |
254 | 7,323 | ||||||
Ferro Corp.* |
1,275 | 27,706 | ||||||
GCP Applied Technologies, Inc.* |
821 | 25,927 | ||||||
Glatfelter Corp. |
643 | 8,835 | ||||||
Hawkins, Inc. |
285 | 12,899 | ||||||
Haynes International, Inc. |
198 | 7,239 | ||||||
HB Fuller Co. |
798 | 54,559 | ||||||
Innospec, Inc. |
379 | 36,194 | ||||||
Kaiser Aluminum Corp. |
245 | 23,642 | ||||||
Koppers Holdings, Inc.* |
327 | 9,362 | ||||||
Kraton Corp.* |
484 | 22,337 | ||||||
Livent Corp.* |
2,453 | 57,768 | ||||||
Mercer International, Inc. |
620 | 8,289 | ||||||
Neenah, Inc. |
256 | 9,971 | ||||||
Stepan Co. |
325 | 33,676 | ||||||
SunCoke Energy, Inc. |
1,302 | 10,325 | ||||||
TimkenSteel Corp.* |
607 | 10,944 | ||||||
Tredegar Corp. |
429 | 4,938 | ||||||
Trinseo PLC |
582 | 30,241 | ||||||
Warrior Met Coal, Inc. |
789 | 24,853 | ||||||
|
|
|||||||
(Cost $574,505) |
613,188 | |||||||
|
|
|||||||
Real Estate — 8.2% | ||||||||
Acadia Realty Trust REIT |
1,358 | 29,115 | ||||||
Agree Realty Corp. REIT |
1,059 | 67,935 | ||||||
Alexander & Baldwin, Inc. REIT |
1,113 | 24,965 | ||||||
American Assets Trust, Inc. REIT |
802 | 29,321 | ||||||
Armada Hoffler Properties, Inc. REIT |
910 | 13,359 | ||||||
Brandywine Realty Trust REIT |
2,571 | 34,271 | ||||||
CareTrust REIT, Inc. REIT |
1,488 | 26,040 | ||||||
Centerspace REIT |
213 | 20,020 | ||||||
Chatham Lodging Trust REIT* |
769 | 10,574 | ||||||
Community Healthcare Trust, Inc. REIT |
353 | 14,720 | ||||||
DiamondRock Hospitality Co. REIT* |
3,177 | 30,340 | ||||||
Diversified Healthcare Trust REIT |
3,538 | 10,189 | ||||||
Easterly Government Properties, Inc. REIT |
1,290 | 26,858 | ||||||
Four Corners Property Trust, Inc. REIT |
1,190 | 31,392 | ||||||
Getty Realty Corp. REIT |
592 | 16,310 | ||||||
Hersha Hospitality Trust REIT* |
511 | 4,717 | ||||||
Independence Realty Trust, Inc. REIT |
1,605 | 40,558 | ||||||
iStar, Inc. REIT (a) |
1,045 | 26,250 | ||||||
LTC Properties, Inc. REIT (a) |
606 | 20,501 | ||||||
LXP Industrial Trust REIT |
4,293 | 66,370 | ||||||
Office Properties Income Trust REIT |
712 | 17,836 | ||||||
Realogy Holdings Corp.* |
1,751 | 31,833 | ||||||
Retail Opportunity Investments Corp. REIT |
1,812 | 32,906 |
Number |
Value |
|||||||
Real Estate (Continued) | ||||||||
RPT Realty REIT |
1,252 | $ | 16,213 | |||||
SITE Centers Corp. REIT |
2,739 | 42,591 | ||||||
Summit Hotel Properties, Inc. REIT* |
1,657 | 16,388 | ||||||
Tanger Factory Outlet Centers, Inc. REIT |
1,604 | 26,755 | ||||||
Uniti Group, Inc. REIT |
3,599 | 46,679 | ||||||
Washington Real Estate Investment Trust REIT |
1,302 | 30,415 | ||||||
Whitestone REIT |
703 | 8,281 | ||||||
Xenia Hotels & Resorts, Inc. REIT* |
1,738 | 32,223 | ||||||
|
|
|||||||
(Cost $792,926) |
845,925 | |||||||
|
|
|||||||
Utilities — 1.0% | ||||||||
California Water Service Group |
801 | 45,601 | ||||||
South Jersey Industries, Inc. |
1,721 | 58,394 | ||||||
|
|
|||||||
(Cost $91,181) |
103,995 | |||||||
|
|
|||||||
TOTAL
COMMON STOCKS |
10,326,760 | |||||||
|
|
|||||||
EXCHANGE-TRADED FUNDS — 0.2% | ||||||||
iShares
Core S&P Small-Cap
ETF |
205 | 22,081 | ||||||
|
|
|||||||
SECURITIES LENDING COLLATERAL — 0.6% | ||||||||
DWS
Government & Agency Securities Portfolio “DWS Government Cash
Institutional Shares”, 0.01% (b)(c) |
54,608 | 54,608 | ||||||
|
|
|||||||
CASH EQUIVALENTS — 0.0% | ||||||||
DWS
Government Money Market Series “Institutional Shares”, 0.04% (b) |
4,559 | 4,559 | ||||||
|
|
|||||||
TOTAL INVESTMENTS — 100.5% (Cost $10,220,183) |
$ | 10,408,008 | ||||||
Other assets and liabilities, net — (0.5%) |
(50,569 | ) | ||||||
|
|
|||||||
NET ASSETS — 100.0% |
$ | 10,357,439 | ||||||
|
|
See Notes to Financial Statements. | 57 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P SmallCap 600 ESG ETF (Continued)
February 28, 2022 (Unaudited)
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2022 is as follows:
Value ($) at 8/31/2021 |
Purchases Cost ($) |
Sales Proceeds ($) |
Net Realized Gain/(Loss) ($) |
Net Change in Unrealized Appreciation (Depreciation) ($) |
Income ($) | Capital Gain Distributions ($) |
Number of Shares at 2/28/2022 |
Value ($) at 2/28/2022 |
||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 0.6% |
| |||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (b)(c) |
| |||||||||||||||||||||||||||||||||||
50,397 | 4,211 | (d) | — | — | — | 2 | — | 54,608 | 54,608 | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.0% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (b) |
| |||||||||||||||||||||||||||||||||||
12,273 | 280,898 | (288,612 | ) | — | — | 1 | — | 4,559 | 4,559 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
62,670 | 285,109 | (288,612 | ) | — | — | 3 | — | 59,167 | 59,167 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
Non-income producing security. |
(a) |
All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2022 amounted to $442,397, which is 4.3% of net assets. |
(b) |
Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
(c) |
Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund held non-cash U.S. Treasury securities collateral having a value of $393,469. |
(d) |
Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2022. |
REIT: | Real Estate Investment Trust |
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2022 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 (e) |
$ | 10,326,760 | $ | — | $ | — | $ | 10,326,760 | ||||||||
Exchange-Traded Funds |
22,081 | — | — | 22,081 | ||||||||||||
Short-Term Investments (e) |
59,167 | — | — | 59,167 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
TOTAL |
$ | 10,408,008 | $ | — | $ | — | $ | 10,408,008 | ||||||||
|
|
|
|
|
|
|
|
(e) |
See Schedule of Investments for additional detailed categorizations. |
See Notes to Financial Statements. | 58 |
This Page is Intentionally Left Blank
59
DBX ETF Trust
February 28, 2022 (Unaudited)
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF |
Xtrackers MSCI EAFE ESG Leaders Equity ETF |
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF |
Xtrackers MSCI USA ESG Leaders Equity ETF |
|||||||||||||
Assets |
||||||||||||||||
Investment in non-affiliated securities at value |
$ | 729,859,098 | $ | 27,342,305 | $ | 23,344,006 | $ | 3,171,321,268 | ||||||||
Investment in DWS Government Money Market Series |
406,136 | — | — | 860,638 | ||||||||||||
Investment in DWS Government & Agency Securities Portfolio* |
1,966,294 | 70,402 | 161,048 | 865,404 | ||||||||||||
Foreign currency at value |
57,876 | 49,813 | 37,707 | — | ||||||||||||
Due from broker |
— | — | 4,172 | — | ||||||||||||
Deposit with broker for futures contracts |
30,586 | 4,523 | 2,549 | 206,040 | ||||||||||||
Receivables: | ||||||||||||||||
Investment securities sold |
931,054 | 304,857 | 143,108 | 10,687,247 | ||||||||||||
Variation margin on futures contracts |
— | — | — | 9,253 | ||||||||||||
Dividends |
796,853 | 46,153 | 27,249 | 4,251,058 | ||||||||||||
Interest |
7 | — | 9 | 56 | ||||||||||||
Securities lending income |
2,867 | 29 | 95 | 3,294 | ||||||||||||
Foreign tax reclaim |
7,290 | 17,116 | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total assets |
$ | 734,058,061 | $ | 27,835,198 | $ | 23,719,943 | $ | 3,188,204,258 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Liabilities |
||||||||||||||||
Due to custodian |
$ | — | $ | 18,713 | $ | 9,376 | $ | — | ||||||||
Payable upon return of securities loaned |
1,966,294 | 70,402 | 161,048 | 865,404 | ||||||||||||
Payables: |
||||||||||||||||
Investment securities purchased |
861,324 | 329,467 | 170,448 | 7,364,248 | ||||||||||||
Capital shares |
— | — | — | 4,031,504 | ||||||||||||
Investment advisory fees |
87,340 | 3,033 | 3,788 | 222,665 | ||||||||||||
Variation margin on futures contracts |
8,568 | 239 | 714 | — | ||||||||||||
Deferred foreign tax payable |
1,014 | — | 41,777 | — | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total liabilities |
2,924,540 | 421,854 | 387,151 | 12,483,821 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net Assets, at value |
$ | 731,133,521 | $ | 27,413,344 | $ | 23,332,792 | $ | 3,175,720,437 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Net Assets Consist of |
||||||||||||||||
Paid-in capital |
$ | 782,334,626 | $ | 26,617,450 | $ | 24,058,459 | $ | 2,021,422,816 | ||||||||
Distributable earnings (loss) |
(51,201,105 | ) | 795,894 | (725,667 | ) | 1,154,297,621 | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net Assets, at value |
$ | 731,133,521 | $ | 27,413,344 | $ | 23,332,792 | $ | 3,175,720,437 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Number of Common Shares outstanding |
23,300,001 | 950,001 | 800,001 | 78,950,001 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net Asset Value |
$ | 31.38 | $ | 28.86 | $ | 29.17 | $ | 40.22 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Investment in non-affiliated securities at cost |
$ | 775,061,240 | $ | 26,044,265 | $ | 23,422,524 | $ | 2,441,325,772 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Value of securities loaned |
$ | 5,743,295 | $ | 234,309 | $ | 235,383 | $ | 863,808 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Investment in DWS Government Money Market Series at cost |
$ | 406,136 | $ | — | $ | — | $ | 860,638 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Investment in DWS Government & Agency Securities Portfolio at cost* |
$ | 1,966,294 | $ | 70,402 | $ | 161,048 | $ | 865,404 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Non-cash collateral for securities on loan |
$ | 4,447,594 | $ | 177,822 | $ | 125,469 | $ | 45,408 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Foreign currency at cost |
$ | 58,658 | $ | 50,739 | $ | 47,200 | $ | — | ||||||||
|
|
|
|
|
|
|
|
* |
Represents collateral on securities loaned. |
See Notes to Financial Statements. | 60 |
DBX ETF Trust
Statements of Assets and Liabilities (Continued)
February 28, 2022 (Unaudited)
Xtrackers S&P 500 ESG ETF |
Xtrackers S&P MidCap 400 ESG ETF |
Xtrackers S&P SmallCap 600 ESG ETF |
||||||||||
Assets |
||||||||||||
Investment in non-affiliated securities at value |
$ | 867,764,572 | $ | 10,641,233 | $ | 10,348,841 | ||||||
Investment in DWS Government Money Market Series |
451,432 | 9,786 | 4,559 | |||||||||
Investment in DWS Government & Agency Securities Portfolio* |
— | — | 54,608 | |||||||||
Deposit with broker for futures contracts |
67,800 | — | — | |||||||||
Receivables: | ||||||||||||
Investment securities sold |
3,943,760 | — | — | |||||||||
Dividends |
1,036,444 | 7,975 | 5,155 | |||||||||
Interest |
22 | — | — | |||||||||
Securities lending income |
910 | 29 | 59 | |||||||||
|
|
|
|
|
|
|||||||
Total assets |
$ | 873,264,940 | $ | 10,659,023 | $ | 10,413,222 | ||||||
|
|
|
|
|
|
|||||||
Liabilities |
||||||||||||
Due to custodian |
$ | 865 | $ | — | $ | — | ||||||
Payable upon return of securities loaned |
— | — | 54,608 | |||||||||
Payables: |
||||||||||||
Investment securities purchased |
— | 8,928 | — | |||||||||
Capital shares |
3,960,992 | — | — | |||||||||
Investment advisory fees |
67,004 | 1,217 | 1,175 | |||||||||
Variation margin on futures contracts |
3,840 | — | — | |||||||||
|
|
|
|
|
|
|||||||
Total liabilities |
4,032,701 | 10,145 | 55,783 | |||||||||
|
|
|
|
|
|
|||||||
Net Assets, at value |
$ | 869,232,239 | $ | 10,648,878 | $ | 10,357,439 | ||||||
|
|
|
|
|
|
|||||||
Net Assets Consist of |
||||||||||||
Paid-in capital |
$ | 734,715,049 | $ | 10,172,141 | $ | 10,142,260 | ||||||
Distributable earnings (loss) |
134,517,190 | 476,737 | 215,179 | |||||||||
|
|
|
|
|
|
|||||||
Net Assets, at value |
$ | 869,232,239 | $ | 10,648,878 | $ | 10,357,439 | ||||||
|
|
|
|
|
|
|||||||
Number of Common Shares outstanding |
22,000,001 | 400,001 | 400,001 | |||||||||
|
|
|
|
|
|
|||||||
Net Asset Value |
$ | 39.51 | $ | 26.62 | $ | 25.89 | ||||||
|
|
|
|
|
|
|||||||
Investment in non-affiliated securities at cost |
$ | 765,450,898 | $ | 10,281,617 | $ | 10,161,016 | ||||||
|
|
|
|
|
|
|||||||
Value of securities loaned |
$ | 1,251,335 | $ | 123,386 | $ | 442,397 | ||||||
|
|
|
|
|
|
|||||||
Investment in DWS Government Money Market Series at cost |
$ | 451,432 | $ | 9,786 | $ | 4,559 | ||||||
|
|
|
|
|
|
|||||||
Investment in DWS Government & Agency Securities Portfolio at cost* |
$ | — | $ | — | $ | 54,608 | ||||||
|
|
|
|
|
|
|||||||
Non-cash collateral for securities on loan |
$ | 1,295,096 | $ | 135,638 | $ | 393,469 | ||||||
|
|
|
|
|
|
* |
Represents collateral on securities loaned. |
See Notes to Financial Statements. | 61 |
DBX ETF Trust
For the Six Months Ended February 28, 2022 (Unaudited)
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF |
Xtrackers MSCI EAFE ESG Leaders Equity ETF |
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF |
Xtrackers MSCI USA ESG Leaders Equity ETF |
|||||||||||||
Investment Income |
||||||||||||||||
Unaffiliated dividend income* |
$ | 3,168,654 | $ | 186,652 | $ | 165,087 | $ | 25,876,108 | ||||||||
Income distributions from affiliated funds |
101 | 2 | 13 | 626 | ||||||||||||
Affiliated securities lending income |
146 | 7 | 5 | 45 | ||||||||||||
Unaffiliated non-cash dividend income |
463,823 | 42,589 | 58,240 | — | ||||||||||||
Unaffiliated securities lending income, net of borrower rebates |
24,462 | 4,334 | 752 | 24,681 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total investment income |
3,657,186 | 233,584 | 224,097 | 25,901,460 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Expenses |
||||||||||||||||
Investment advisory fees |
403,976 | 15,354 | 24,599 | 1,894,997 | ||||||||||||
Other expenses |
57 | 57 | 57 | 172 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total expenses |
404,033 | 15,411 | 24,656 | 1,895,169 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Less fees waived (see note 3): |
||||||||||||||||
Waiver |
(65 | ) | (2 | ) | (14 | ) | (190,093 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Net expenses |
403,968 | 15,409 | 24,642 | 1,705,076 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net investment income (loss) |
3,253,218 | 218,175 | 199,455 | 24,196,384 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Realized and Unrealized Gain (Loss) |
||||||||||||||||
Net realized gain (loss) from: |
||||||||||||||||
Investments** |
(5,466,275 | ) | (151,103 | ) | (182,194 | ) | 226,073 | |||||||||
Investments in affiliates |
297 | — | — | — | ||||||||||||
In-kind redemptions |
— | — | — | 452,537,309 | ||||||||||||
Futures contracts |
(32,170 | ) | 1,923 | (8,552 | ) | 234,678 | ||||||||||
Foreign currency transactions |
7,789 | (1,640 | ) | 2,512 | — | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net realized gain (loss) |
(5,490,359 | ) | (150,820 | ) | (188,234 | ) | 452,998,060 | |||||||||
|
|
|
|
|
|
|
|
|||||||||
Net change in unrealized appreciation (depreciation) on: |
||||||||||||||||
Investments*** |
(61,656,677 | ) | (2,393,629 | ) | (3,201,348 | ) | (554,765,103 | ) | ||||||||
Investments in affiliates |
(243 | ) | — | — | — | |||||||||||
Futures contracts |
(24,824 | ) | (3,352 | ) | (6,050 | ) | (589,415 | ) | ||||||||
Foreign currency translations |
2,959 | (1,072 | ) | (9,965 | ) | — | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net change in unrealized appreciation (depreciation) |
(61,678,785 | ) | (2,398,053 | ) | (3,217,363 | ) | (555,354,518 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Net realized and unrealized gain (loss) on investments, futures and foreign currency transactions |
(67,169,144 | ) | (2,548,873 | ) | (3,405,597 | ) | (102,356,458 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations |
$ | (63,915,926 | ) | $ | (2,330,698 | ) | $ | (3,206,142 | ) | $ | (78,160,074 | ) | ||||
|
|
|
|
|
|
|
|
|||||||||
* Unaffiliated foreign tax withheld |
$ | 471,677 | $ | 24,905 | $ | 25,494 | $ | — | ||||||||
** Including foreign taxes |
$ | 61,355 | $ | — | $ | 3,261 | $ | — | ||||||||
*** Net of change in deferred foreign taxes |
$ | (332,653 | ) | $ | — | $ | (26,328 | ) | $ | — |
See Notes to Financial Statements. | 62 |
DBX ETF Trust
Statements of Operations (Continued)
For the Six Months Ended February 28, 2022 (Unaudited)
Xtrackers S&P 500 ESG ETF |
Xtrackers S&P MidCap 400 ESG ETF |
Xtrackers S&P SmallCap 600 ESG ETF |
||||||||||
Investment Income |
||||||||||||
Unaffiliated dividend income* |
$ | 5,712,169 | $ | 75,157 | $ | 69,807 | ||||||
Income distributions from affiliated funds |
206 | 1 | 1 | |||||||||
Affiliated securities lending income |
3 | — | 2 | |||||||||
Unaffiliated securities lending income, net of borrower rebates |
7,712 | 270 | 800 | |||||||||
|
|
|
|
|
|
|||||||
Total investment income |
5,720,090 | 75,428 | 70,610 | |||||||||
|
|
|
|
|
|
|||||||
Expenses |
||||||||||||
Investment advisory fees |
446,579 | 8,118 | 7,935 | |||||||||
Other expenses |
57 | 44 | 44 | |||||||||
|
|
|
|
|
|
|||||||
Total expenses |
446,636 | 8,162 | 7,979 | |||||||||
|
|
|
|
|
|
|||||||
Less fees waived (see note 3): |
||||||||||||
Waiver |
(40,789 | ) | (1 | ) | (1 | ) | ||||||
|
|
|
|
|
|
|||||||
Net expenses |
405,847 | 8,161 | 7,978 | |||||||||
|
|
|
|
|
|
|||||||
Net investment income (loss) |
5,314,243 | 67,267 | 62,632 | |||||||||
|
|
|
|
|
|
|||||||
Realized and Unrealized Gain (Loss) |
||||||||||||
Net realized gain (loss) from: |
||||||||||||
Investments |
(96,974 | ) | 119,579 | 56,700 | ||||||||
In-kind redemptions |
33,170,777 | — | — | |||||||||
Futures contracts |
71,895 | — | — | |||||||||
|
|
|
|
|
|
|||||||
Net realized gain (loss) |
33,145,698 | 119,579 | 56,700 | |||||||||
|
|
|
|
|
|
|||||||
Net change in unrealized appreciation (depreciation) on: |
||||||||||||
Investments |
(44,259,945 | ) | (423,747 | ) | (297,892 | ) | ||||||
Futures contracts |
(108,005 | ) | — | — | ||||||||
|
|
|
|
|
|
|||||||
Net change in unrealized appreciation (depreciation) |
(44,367,950 | ) | (423,747 | ) | (297,892 | ) | ||||||
|
|
|
|
|
|
|||||||
Net realized and unrealized gain (loss) on investments and futures |
(11,222,252 | ) | (304,168 | ) | (241,192 | ) | ||||||
|
|
|
|
|
|
|||||||
Net Increase (Decrease) in Net Assets Resulting from Operations |
$ | (5,908,009 | ) | $ | (236,901 | ) | $ | (178,560 | ) | |||
|
|
|
|
|
|
|||||||
* Unaffiliated foreign tax withheld |
$ | — | $ | — | $ | 101 |
See Notes to Financial Statements. | 63 |
DBX ETF Trust
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF |
Xtrackers MSCI EAFE ESG Leaders Equity ETF |
|||||||||||||||
For
the Six Months Ended February 28, 2022 (Unaudited) |
Year Ended August 31, 2021 |
For
the Six Months Ended February 28, 2022 (Unaudited) |
Year Ended August 31, 2021 |
|||||||||||||
Increase (Decrease) in Net Assets from Operations |
||||||||||||||||
Net investment income (loss) |
$ | 3,253,218 | $ | 297,064 | $ | 218,175 | $ | 408,101 | ||||||||
Net realized gain (loss) |
(5,490,359 | ) | 1,511,757 | (150,820 | ) | 264,176 | ||||||||||
Net change in net unrealized appreciation (depreciation) |
(61,678,785 | ) | 15,562,693 | (2,398,053 | ) | 2,955,505 | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net increase (decrease) in net assets resulting from operations |
(63,915,926 | ) | 17,371,514 | (2,330,698 | ) | 3,627,782 | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Distributions to Shareholders |
(3,512,080 | ) | (192,472 | ) | (252,337 | ) | (404,392 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Fund Shares Transactions |
||||||||||||||||
Proceeds from shares sold |
302,459,423 | 475,859,618 | 10,920,293 | 5,739,352 | ||||||||||||
Value of shares redeemed |
— | (5,307,482 | ) | — | (1,567,175 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net increase (decrease) in net assets resulting from fund share transactions |
302,459,423 | 470,552,136 | 10,920,293 | 4,172,177 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total net increase (decrease) in Net Assets |
235,031,417 | 487,731,178 | 8,337,258 | 7,395,567 | ||||||||||||
Net Assets |
||||||||||||||||
Beginning of period |
496,102,104 | 8,370,926 | 19,076,086 | 11,680,519 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
End of period |
$ | 731,133,521 | $ | 496,102,104 | $ | 27,413,344 | $ | 19,076,086 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Changes in Shares Outstanding |
||||||||||||||||
Shares outstanding, beginning of period |
14,300,001 | 300,001 | 600,001 | 450,001 | ||||||||||||
Shares sold |
9,000,000 | 14,150,000 | 350,000 | 200,000 | ||||||||||||
Shares redeemed |
— | (150,000 | ) | — | (50,000 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Shares outstanding, end of period |
23,300,001 | 14,300,001 | 950,001 | 600,001 | ||||||||||||
|
|
|
|
|
|
|
|
See Notes to Financial Statements. | 64 |
DBX ETF Trust
Statements of Changes in Net Assets (Continued)
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF |
Xtrackers MSCI USA ESG Leaders Equity ETF |
|||||||||||||||
For the Six Months Ended February 28, 2022 (Unaudited) |
Year Ended August 31, 2021 |
For
the Six Months Ended February 28, 2022 (Unaudited) |
Year Ended August 31, 2021 |
|||||||||||||
Increase (Decrease) in Net Assets from Operations |
||||||||||||||||
Net investment income (loss) |
$ | 199,455 | $ | 200,440 | $ | 24,196,384 | $ | 44,760,180 | ||||||||
Net realized gain (loss) |
(188,235 | ) | (263,400 | ) | 452,998,060 | 79,672,605 | ||||||||||
Net change in net unrealized appreciation (depreciation) |
(3,217,362 | ) | 1,853,650 | (555,354,518 | ) | 828,704,550 | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net increase (decrease) in net assets resulting from operations |
(3,206,142 | ) | 1,790,690 | (78,160,074 | ) | 953,137,335 | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Distributions to Shareholders |
(312,680 | ) | (82,138 | ) | (25,259,204 | ) | (44,278,620 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Fund Shares Transactions |
||||||||||||||||
Proceeds from shares sold |
1,648,274 | 14,924,326 | 391,933,747 | 610,533,251 | ||||||||||||
Value of shares redeemed |
— | — | (1,002,196,498 | ) | (296,434,378 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net increase (decrease) in net assets resulting from fund share transactions |
1,648,274 | 14,924,326 | (610,262,751 | ) | 314,098,873 | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total net increase (decrease) in Net Assets |
(1,870,548 | ) | 16,632,878 | (713,682,029 | ) | 1,222,957,588 | ||||||||||
Net Assets |
||||||||||||||||
Beginning of period |
25,203,340 | 8,570,462 | 3,889,402,466 | 2,666,444,878 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
End of period |
$ | 23,332,792 | $ | 25,203,340 | $ | 3,175,720,437 | $ | 3,889,402,466 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Changes in Shares Outstanding |
||||||||||||||||
Shares outstanding, beginning of period |
750,001 | 300,001 | 92,850,001 | 83,750,001 | ||||||||||||
Shares sold |
50,000 | 450,000 | 9,050,000 | 17,200,000 | ||||||||||||
Shares redeemed |
— | — | (22,950,000 | ) | (8,100,000 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Shares outstanding, end of period |
800,001 | 750,001 | 78,950,001 | 92,850,001 | ||||||||||||
|
|
|
|
|
|
|
|
See Notes to Financial Statements. | 65 |
DBX ETF Trust
Statements of Changes in Net Assets (Continued)
Xtrackers S&P 500 ESG ETF | Xtrackers S&P MidCap 400 ESG ETF | |||||||||||||||
For
the Six Months Ended February 28, 2022 (Unaudited) |
Year Ended August 31, 2021 |
For the Six Months Ended February 28, 2022 (Unaudited) |
For the Period February 24, 2021(1) to August 31, 2021 (Unaudited) |
|||||||||||||
Increase (Decrease) in Net Assets from Operations |
||||||||||||||||
Net investment income (loss) |
$ | 5,314,243 | $ | 6,793,362 | $ | 67,267 | $ | 54,903 | ||||||||
Net realized gain (loss) |
33,145,698 | 22,972,189 | 119,579 | 132,093 | ||||||||||||
Net change in net unrealized appreciation (depreciation) |
(44,367,950 | ) | 109,454,795 | (423,747 | ) | 783,363 | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net increase (decrease) in net assets resulting from operations |
(5,908,009 | ) | 139,220,346 | (236,901 | ) | 970,359 | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Distributions to Shareholders |
(5,201,999 | ) | (5,646,092 | ) | (70,976 | ) | (33,536 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Fund Shares Transactions |
||||||||||||||||
Proceeds from shares sold |
220,084,898 | 428,551,169 | — | 11,371,328 | ||||||||||||
Value of shares redeemed |
(84,494,785 | ) | (87,808,140 | ) | — | (1,351,421 | ) | |||||||||
|
|
|
|
|
|
|
|
|||||||||
Net increase (decrease) in net assets resulting from fund share transactions |
135,590,113 | 340,743,029 | — | 10,019,907 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total net increase (decrease) in Net Assets |
124,480,105 | 474,317,283 | (307,877 | ) | 10,956,730 | |||||||||||
Net Assets |
||||||||||||||||
Beginning of period |
744,752,134 | 270,434,851 | 10,956,755 | 25 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
End of period |
$ | 869,232,239 | $ | 744,752,134 | $ | 10,648,878 | $ | 10,956,755 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Changes in Shares Outstanding |
||||||||||||||||
Shares outstanding, beginning of period |
18,650,001 | 8,700,001 | 400,001 | 1 | ||||||||||||
Shares sold |
5,400,000 | 12,450,000 | — | 450,000 | ||||||||||||
Shares redeemed |
(2,050,000 | ) | (2,500,000 | ) | — | (50,000 | ) | |||||||||
|
|
|
|
|
|
|
|
|||||||||
Shares outstanding, end of period |
22,000,001 | 18,650,001 | 400,001 | 400,001 | ||||||||||||
|
|
|
|
|
|
|
|
(1) |
Commencement of Operations. |
See Notes to Financial Statements. | 66 |
DBX ETF Trust
Statements of Changes in Net Assets (Continued)
Xtrackers S&P SmallCap 600 ESG ETF | ||||||||
For
the Six Months Ended February 28, 2022 (Unaudited) |
For the Period February 24, 2021(1) to August 31, 2021 (Unaudited) |
|||||||
Increase (Decrease) in Net Assets from Operations |
||||||||
Net investment income (loss) |
$ | 62,632 | $ | 65,069 | ||||
Net realized gain (loss) |
56,700 | 128,496 | ||||||
Net change in net unrealized appreciation (depreciation) |
(297,892 | ) | 485,717 | |||||
|
|
|
|
|||||
Net increase (decrease) in net assets resulting from operations |
(178,560 | ) | 679,282 | |||||
|
|
|
|
|||||
Distributions to Shareholders |
(134,708 | ) | (27,800 | ) | ||||
|
|
|
|
|||||
Fund Shares Transactions |
||||||||
Proceeds from shares sold |
— | 11,335,683 | ||||||
Value of shares redeemed |
— | (1,316,483 | ) | |||||
|
|
|
|
|||||
Net increase (decrease) in net assets resulting from fund share transactions |
— | 10,019,200 | ||||||
|
|
|
|
|||||
Total net increase (decrease) in Net Assets |
(313,268 | ) | 10,670,682 | |||||
Net Assets |
||||||||
Beginning of period |
10,670,707 | 25 | ||||||
|
|
|
|
|||||
End of period |
$ | 10,357,439 | $ | 10,670,707 | ||||
|
|
|
|
|||||
Changes in Shares Outstanding |
||||||||
Shares outstanding, beginning of period |
400,001 | 1 | ||||||
Shares sold |
— | 450,000 | ||||||
Shares redeemed |
— | (50,000 | ) | |||||
|
|
|
|
|||||
Shares outstanding, end of period |
400,001 | 400,001 | ||||||
|
|
|
|
(1) |
Commencement of Operations. |
See Notes to Financial Statements. | 67 |
DBX ETF Trust
Xtrackers
Emerging Markets Carbon Reduction and Climate Improvers ETF Selected Per Share Data |
For
the Six Months Ended 2/28/2022 (Unaudited) |
Years Ended August 31, |
Period Ended 8/31/2019(a) |
|||||||||||||
2021 | 2020 | |||||||||||||||
Net Asset Value, beginning of period |
$ | 34.69 | $ | 27.90 | $ | 25.42 | $ | 25.00 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Income (loss) from investment operations: | ||||||||||||||||
Net investment income (loss)(b) |
0.20 | 0.57 | 0.68 | 0.60 | ||||||||||||
Net realized and unrealized gain (loss) |
(3.26 | ) | 6.86 | 2.53 | 0.27 | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total from investment operations |
(3.06 | ) | 7.43 | 3.21 | 0.87 | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
Less distributions from: |
| |||||||||||||||
Net investment income |
(0.25 | ) | (0.64 | ) | (0.73 | ) | (0.45 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Total distributions |
(0.25 | ) | (0.64 | ) | (0.73 | ) | (0.45 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Net Asset Value, end of period |
$ | 31.38 | $ | 34.69 | $ | 27.90 | $ | 25.42 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Return (%)(c) |
(8.85 | )** | 26.80 | 12.74 | 3.44 | ** | ||||||||||
Ratios to Average Net Assets and Supplemental Data |
||||||||||||||||
Net Assets, end of period ($ millions) |
731 | 496 | 8 | 8 | ||||||||||||
Ratio of expenses before fee waiver (%) |
0.15 | * | 0.16 | 0.16 | 0.16 | * | ||||||||||
Ratio of expenses after fee waiver (%) |
0.15 | * | 0.16 | 0.16 | 0.16 | * | ||||||||||
Ratio of net investment income (loss) (%) |
1.12 | * | 1.97 | 2.61 | 3.17 | * | ||||||||||
Portfolio turnover rate (%)(d) |
10 | ** | 17 | 13 | 10 | ** | ||||||||||
Xtrackers
MSCI EAFE ESG Leaders Equity ETF Selected Per Share Data |
For the Six Months Ended 2/28/2022 (Unaudited) |
Years Ended August 31, |
Period Ended 8/31/2019(e) |
|||||||||||||
2021 | 2020 | |||||||||||||||
Net Asset Value, beginning of period |
$ | 31.79 | $ | 25.96 | $ | 24.10 | $ | 25.00 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Income (loss) from investment operations: | ||||||||||||||||
Net investment income (loss)(b) |
0.30 | 0.72 | 0.59 | 0.78 | ||||||||||||
Net realized and unrealized gain (loss) |
(2.84 | ) | 5.80 | 1.83 | (1.01 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total from investment operations |
(2.54 | ) | 6.52 | 2.42 | (0.23 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Less distributions from: |
| |||||||||||||||
Net investment income |
(0.39 | ) | (0.69 | ) | (0.56 | ) | (0.66 | ) | ||||||||
Net realized gains |
— | — | — | (0.01 | ) | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total distributions |
(0.39 | ) | (0.69 | ) | (0.56 | ) | (0.67 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Net Asset Value, end of period |
$ | 28.86 | $ | 31.79 | $ | 25.96 | $ | 24.10 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Return (%)(c) |
(8.07 | )** | 25.28 | 10.12 | (0.91 | )** | ||||||||||
Ratios to Average Net Assets and Supplemental Data |
||||||||||||||||
Net Assets, end of period ($ millions) |
27 | 19 | 12 | 7 | ||||||||||||
Ratio of expenses before fee waiver (%) |
0.14 | * | 0.14 | 0.14 | 0.14 | * | ||||||||||
Ratio of expenses after fee waiver (%) |
0.14 | * | 0.14 | 0.14 | 0.14 | * | ||||||||||
Ratio of net investment income (loss) (%) |
1.73 | * | 2.45 | 2.39 | 3.25 | * | ||||||||||
Portfolio turnover rate (%)(d) |
6 | ** | 22 | 16 | 10 | ** |
(a) |
For the period December 6, 2018 (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 September 6, 2018 (commencement of operations) through August 31, 2019. |
* |
Annualized. |
** |
Not Annualized. |
See Notes to Financial Statements. | 68 |
DBX ETF Trust
Financial Highlights (Continued)
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF Selected Per Share Data |
For the Six Months Ended 2/28/2022 (Unaudited) |
Years Ended August 31, |
Period Ended 8/31/2019(a) |
|||||||||||||
2021 | 2020 | |||||||||||||||
Net Asset Value, beginning of period |
$ | 33.60 | $ | 28.57 | $ | 24.70 | $ | 25.00 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Income (loss) from investment operations: | ||||||||||||||||
Net investment income (loss)(b) |
0.26 | 0.49 | 0.86 | 0.50 | ||||||||||||
Net realized and unrealized gain (loss) |
(4.30 | ) | 4.77 | 4.07 | (0.53 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total from investment operations |
(4.04 | ) | 5.26 | 4.93 | (0.03 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Less distributions from: |
| |||||||||||||||
Net investment income |
(0.39 | ) | (0.23 | ) | (1.06 | ) | (0.27 | ) | ||||||||
Net realized gains |
— | — | (0.00 | )(c) | — | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total distributions |
(0.39 | ) | (0.23 | ) | (1.06 | ) | (0.27 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Net Asset Value, end of period |
$ | 29.17 | $ | 33.60 | $ | 28.57 | $ | 24.70 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Return (%)(d) |
(12.07 | )** | 18.43 | 20.32 | (0.17 | )** | ||||||||||
Ratios to Average Net Assets and Supplemental Data |
||||||||||||||||
Net Assets, end of period ($ millions) |
23 | 25 | 9 | 7 | ||||||||||||
Ratio of expenses before fee waiver (%) |
0.20 | * | 0.20 | 0.20 | 0.20 | * | ||||||||||
Ratio of expenses after fee waiver (%) |
0.20 | * | 0.20 | 0.20 | 0.20 | * | ||||||||||
Ratio of net investment income (loss) (%) |
1.38 | * | 1.48 | 3.38 | 2.68 | * | ||||||||||
Portfolio turnover rate (%)(e) |
3 | ** | 26 | 17 | 16 | ** | ||||||||||
Xtrackers MSCI USA ESG Leaders Equity ETF Selected Per Share Data |
For
the Six Months Ended 2/28/2022 (Unaudited) |
Years Ended August 31, |
Period Ended 8/31/2019(f) |
|||||||||||||
2021 | 2020 | |||||||||||||||
Net Asset Value, beginning of period |
$ | 41.89 | $ | 31.84 | $ | 26.69 | $ | 25.00 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Income (loss) from investment operations: | ||||||||||||||||
Net investment income (loss)(b) |
0.27 | 0.50 | 0.51 | 0.24 | ||||||||||||
Net realized and unrealized gain (loss) |
(1.68 | ) | 10.05 | 5.10 | 1.57 | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total from investment operations |
(1.41 | ) | 10.55 | 5.61 | 1.81 | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
Less distributions from: |
| |||||||||||||||
Net investment income |
(0.26 | ) | (0.50 | ) | (0.46 | ) | (0.12 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Total distributions |
(0.26 | ) | (0.50 | ) | (0.46 | ) | (0.12 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Net Asset Value, end of period |
$ | 40.22 | $ | 41.89 | $ | 31.84 | $ | 26.69 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Return (%)(d) |
(3.38 | )** | 33.48 | 21.42 | 7.23 | ** | ||||||||||
Ratios to Average Net Assets and Supplemental Data |
||||||||||||||||
Net Assets, end of period ($ millions) |
3,176 | 3,889 | 2,666 | 1,341 | ||||||||||||
Ratio of expenses before fee waiver (%) |
0.10 | * | 0.10 | 0.10 | 0.10 | * | ||||||||||
Ratio of expenses after fee waiver (%) |
0.09 | * | 0.09 | 0.09 | 0.10 | * | ||||||||||
Ratio of net investment income (loss) (%) |
1.28 | * | 1.39 | 1.83 | 1.89 | * | ||||||||||
Portfolio turnover rate (%)(e) |
1 | ** | 12 | 9 | 5 | ** |
(a) |
For the period December 6, 2018 (commencement of operations) through August 31, 2019. |
(b) |
Based on average shares outstanding during the period. |
(c) |
Amount represents less than $0.005. |
(d) |
Total Return would have been lower if certain expenses had not been reimbursed by the Advisor. |
(e) |
Portfolio turnover rate does not include securities received or delivered from processing creations or redemptions. |
(f) |
For the period March 7, 2019 (commencement of operations) through August 31, 2019. |
* |
Annualized. |
** |
Not Annualized. |
See Notes to Financial Statements. | 69 |
DBX ETF Trust
Financial Highlights (Continued)
Xtrackers S&P 500 ESG ETF Selected Per Share Data | For
the Six Months Ended 2/28/2022 (Unaudited) |
Years Ended August 31, | Period Ended 8/31/2019(a) |
|||||||||||||
2021 | 2020 | |||||||||||||||
Net Asset Value, beginning of period |
$ | 39.93 | $ | 31.08 | $ | 25.30 | $ | 25.00 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Income (loss) from investment operations: | ||||||||||||||||
Net investment income (loss)(b) |
0.26 | 0.49 | 0.50 | 0.10 | ||||||||||||
Net realized and unrealized gain (loss) |
(0.41 | ) | 8.79 | 5.85 | 0.20 | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total from investment operations |
(0.15 | ) | 9.28 | 6.35 | 0.30 | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
Less distributions from: |
| |||||||||||||||
Net investment income |
(0.27 | ) | (0.43 | ) | (0.57 | ) | — | |||||||||
|
|
|
|
|
|
|
|
|||||||||
Total distributions |
(0.27 | ) | (0.43 | ) | (0.57 | ) | — | |||||||||
|
|
|
|
|
|
|
|
|||||||||
Net Asset Value, end of period |
$ | 39.51 | $ | 39.93 | $ | 31.08 | $ | 25.30 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Return (%)(c) |
(0.40 | )** | 30.16 | 25.71 | 1.20 | ** | ||||||||||
Ratios to Average Net Assets and Supplemental Data |
||||||||||||||||
Net Assets, end of period ($ millions) |
869 | 745 | 270 | 11 | ||||||||||||
Ratio of expenses before fee waiver (%) |
0.11 | * | 0.11 | 0.11 | 0.11 | * | ||||||||||
Ratio of expenses after fee waiver (%) |
0.10 | * | 0.10 | 0.11 | 0.11 | * | ||||||||||
Ratio of net investment income (loss) (%) |
1.31 | * | 1.41 | 1.86 | 2.08 | * | ||||||||||
Portfolio turnover rate (%)(d) |
1 | ** | 13 | 11 | 0 | ** | ||||||||||
Xtrackers S&P MidCap 400 ESG ETF Selected Per Share Data | For the Six Months Ended 2/28/2022 (Unaudited) |
Period Ended 8/31/2021(e) |
||||||||||||||
Net Asset Value, beginning of period |
$ | 27.39 | $ | 25.00 | ||||||||||||
|
|
|
|
|||||||||||||
Income (loss) from investment operations: | ||||||||||||||||
Net investment income (loss)(b) |
0.17 | 0.14 | ||||||||||||||
Net realized and unrealized gain (loss) |
(0.76 | ) | 2.33 | |||||||||||||
|
|
|
|
|||||||||||||
Total from investment operations |
(0.59 | ) | 2.47 | |||||||||||||
|
|
|
|
|||||||||||||
Less distributions from: |
| |||||||||||||||
Net investment income |
(0.18 | ) | (0.08 | ) | ||||||||||||
|
|
|
|
|||||||||||||
Total distributions |
(0.18 | ) | (0.08 | ) | ||||||||||||
|
|
|
|
|||||||||||||
Net Asset Value, end of period |
$ | 26.62 | $ | 27.39 | ||||||||||||
|
|
|
|
|||||||||||||
Total Return (%)(c) |
(2.17 | )** | 9.92 | ** | ||||||||||||
Ratios to Average Net Assets and Supplemental Data |
||||||||||||||||
Net Assets, end of period ($ millions) |
11 | 11 | ||||||||||||||
Ratio of expenses before fee waiver (%) |
0.15 | * | 0.15 | * | ||||||||||||
Ratio of expenses after fee waiver (%) |
0.15 | * | 0.15 | * | ||||||||||||
Ratio of net investment income (loss) (%) |
1.24 | * | 1.00 | * | ||||||||||||
Portfolio turnover rate (%)(d) |
11 | ** | 27 | ** |
(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 February 24, 2021 (commencement of operations) through August 31, 2021. |
* |
Annualized. |
** |
Not Annualized. |
See Notes to Financial Statements. | 70 |
DBX ETF Trust
Financial Highlights (Continued)
Xtrackers S&P
SmallCap 600 ESG ETF Selected Per Share Data |
For
the Six Months Ended 2/28/2022 (Unaudited) |
Period Ended 8/31/2021(a) |
||||||
Net Asset Value, beginning of period |
$ | 26.68 | $ | 25.00 | ||||
|
|
|
|
|||||
Income (loss) from investment operations: | ||||||||
Net investment income (loss)(b) |
0.16 | 0.16 | ||||||
Net realized and unrealized gain (loss) |
(0.61 | ) | 1.59 | |||||
|
|
|
|
|||||
Total from investment operations |
(0.45 | ) | 1.75 | |||||
|
|
|
|
|||||
Less distributions from: |
| |||||||
Net investment income |
(0.22 | ) | (0.07 | ) | ||||
Net realized gains |
(0.12 | ) | — | |||||
|
|
|
|
|||||
Total distributions |
(0.34 | ) | (0.07 | ) | ||||
|
|
|
|
|||||
Net Asset Value, end of period |
$ | 25.89 | $ | 26.68 | ||||
|
|
|
|
|||||
Total Return (%)(c) |
(1.72 | )** | 7.01 | ** | ||||
Ratios to Average Net Assets and Supplemental Data |
||||||||
Net Assets, end of period ($ millions) |
10 | 11 | ||||||
Ratio of expenses before fee waiver (%) |
0.15 | * | 0.15 | * | ||||
Ratio of expenses after fee waiver (%) |
0.15 | * | 0.15 | * | ||||
Ratio of net investment income (loss) (%) |
1.18 | * | 1.19 | * | ||||
Portfolio turnover rate (%)(d) |
9 | ** | 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. | 71 |
DBX ETF Trust
1. Organization
DBX ETF Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “Act”), as an open-end registered management investment company organized as a Delaware statutory trust.
As of February 28, 2022, the Trust consists of thirty-six 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 Emerging Markets Carbon Reduction and Climate Improvers ETF |
Xtrackers MSCI EAFE ESG Leaders Equity ETF |
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF |
Xtrackers MSCI USA ESG Leaders Equity ETF |
Xtrackers S&P 500 ESG 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”).
Each Fund offers shares that are listed and traded on the NYSE Arca, Inc. (“NYSE Arca”). Unlike conventional mutual funds, each Fund issues and redeems shares on a continuous basis, at net asset value (“NAV”), only in large specified lots consisting of 50,000 shares, 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 track the performance, before fees and expenses, of a particular index (the “Underlying Index”). The underlying indices for the Funds are:
Fund |
Underlying Index | |
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | Solactive ISS Emerging Markets Carbon Reduction & Climate Improvers Index NTR | |
Xtrackers MSCI EAFE ESG Leaders Equity ETF | MSCI EAFE ESG Leaders Index | |
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | MSCI Emerging Markets ESG Leaders Index | |
Xtrackers MSCI USA ESG Leaders Equity ETF | MSCI USA ESG Leaders Index | |
Xtrackers S&P 500 ESG ETF | S&P 500 ESG 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 |
The Solactive ISS Emerging Markets Carbon Reduction & Climate Improvers Index NTR is comprised of large and mid-capitalization companies in emerging markets countries that meet certain environmental, social and governance (“ESG”) criteria and/or have committed to greenhouse gas emissions reduction targets. The Under-lying Index is then weighted in such a manner seeking to align its constituent companies’ greenhouse gas emissions with the long-term global warming target of the Paris Climate Agreement. Under normal circumstances, the Underlying Index is rebalanced semi-annually in February and August, and thus the Fund updates and rebalances its portfolio in a corresponding fashion.
The MSCI EAFE ESG Leaders Index is a capitalization weighted index that provides exposure to companies with high ESG performance relative to their sector peers. The Underlying Index consists of large- and medium-capitalization companies across developed markets countries, excluding Canada and the United States. The annual review of the Underlying Index takes place in May and it is rebalanced in August, November and February, and thus the Fund updates and rebalances its portfolio in a corresponding fashion.
The MSCI Emerging Markets ESG Leaders Index is a capitalization weighted index that provides exposure to companies with high ESG performance relative to their sector peers. The Underlying Index consists of large- and medium-capitalization companies across emerging markets countries. The annual review of the Underlying Index takes place in May and it is rebalanced in August, November and February, and thus the Fund updates and rebalances its portfolio in a corresponding fashion.
72
DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
MSCI USA ESG Leaders Index is a capitalization weighted index that provides exposure to companies with high ESG performance relative to their sector peers. The Underlying Index consists of large- and medium-capitalization companies in the U.S market. The annual review of the Underlying Index takes place in May and it is rebalanced in August, November and February, and thus the Fund updates and rebalances its portfolio in a corresponding fashion.
S&P 500 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 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 MidCap 400 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 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 provides exposure to companies with high ESG performance relative to their sector peers, 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 the Index Provider and DBX. There is no charge to the Funds in connection with these licensing agreements.
Each Fund, except Xtrackers MSCI EAFE ESG Leaders Equity ETF, Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF and Xtrackers MSCI USA ESG Leaders Equity ETF (effective March 7, 2022), is non-diversified and is not limited by the Act with regard to the percentage of its assets that may be invested in the securities of a single issuer. This means the securities of a particular issuer (or securities of issuers in particular industries) may dominate the Underlying Index of the Fund and, consequently, the Fund’s investment portfolio. This may adversely affect the Fund’s performance or subject the Fund’s shares to greater price volatility than that experienced by more diversified investment companies. Each Fund may change its diversification status over time and then change it back again, without shareholder approval, solely as a result of a change in relative market capitalization or index weighting of one or more constituents of the index each Fund tracks.
Pursuant to the Trust’s organizational documents, the Trust’s officers and trustees are indemnified against certain liabilities that may arise out of the performance of their duties to the Funds. Additionally, in the normal course of business the Trust enters into contracts that contain a variety of representations that provide indemnification for certain liabilities. The Trust’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Funds that have not yet occurred. However, the Trust expects the risk of loss to be remote.
2. Significant Accounting Policies
The financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”), which require management to make certain estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. Each Fund qualifies as an investment company under Topic 946 of 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.
73
DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
Various inputs are used in determining the value of the Funds’ investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, and credit risk). Level 3 includes significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
Equity securities and ETFs are valued at the most recent sale price or official closing price reported on the exchange (U.S. or foreign) or over-the-counter market on which they trade. Securities or ETFs for which no sales are reported are valued at the calculated mean between the most recent bid and asked quotations on the relevant market or, if a mean cannot be determined, at the most recent bid quotation. Equity securities and ETFs are generally categorized as Level 1.
Corporate and sovereign debt securities are valued at prices supplied by independent pricing services approved by the Funds’ Board. Such services may use various pricing techniques which take into account appropriate factors such as yield, quality, coupon rate, maturity, type of issue, trading characteristics and other data, as well as broker quotes. If the pricing services are unable to provide valuations, securities are valued at the mean between the bid and ask quotations or evaluated prices, as applicable, obtained from broker dealers. These securities are generally categorized as Level 2
Investments in open-end investment companies are valued at their NAV each business day and are categorized as Level 1.
Futures contracts are generally valued at the settlement prices established each day on the exchange on which they are traded and are categorized as Level 1.
Securities and other assets for which market quotations are not readily available or for which the above valuation procedures are deemed not to reflect fair value are valued in a manner that is intended to reflect their fair value as determined in accordance with procedures approved by the Board and are generally categorized as Level 3. In accordance with the Funds’ valuation procedures, factors considered in determining value may include, but are not limited to, the type of the security; the size of the holding; the initial cost of the security; the existence of any contractual restrictions on the security’s disposition; the price and extent of public trading in similar securities of the issuer or of comparable companies; quotations or evaluated prices from broker-dealers and/or pricing services; information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities); an analysis of the company’s or issuer’s financial statements; an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold; and with respect to debt securities, the maturity, coupon, creditworthiness, currency denomination and the movement of the market in which the security is normally traded. The value determined under these procedures may differ from published values for the same securities.
Fair value pricing could result in a difference between the prices used to calculate a Fund’s NAV and the prices used by the Fund’s Underlying Index, which in turn could result in a difference between the Fund’s performance and the performance of the Fund’s Underlying Index.
Disclosure about the classification of the fair value measurements is included in a table following the Fund’s Schedule of Investments.
Cash Cash consists of cash held at banks and is on deposit with major financial institutions.
Investment Transactions and Investment Income Investment transactions are recorded as of the date that the securities are purchased or sold (trade date). Realized gains and losses from the sale or disposition of securities are calculated on the identified cost-method. Dividend income is net of any foreign taxes withheld at source. Certain dividends from foreign securities may be recorded subsequent to the ex-dividend date as soon as the fund is informed of such dividends. Interest income is recorded on the accrual basis. Distributions received from foreign domiciled corporations, generally determined to be passive foreign investment companies for tax reporting purposes, are included in dividend income.
Tax Information and Dividends and Distributions to Shareholders It is each Fund’s policy to comply with all requirements of the Internal Revenue Code of 1986, as amended (“the Code”). Each Fund intends to qualify for and to elect treatment as a separate Regulated Investment Company (“RIC”) under Subchapter M of the Code. It is
74
DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
the policy of Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF, Xtrackers MSCI EAFE ESG Leaders Equity ETF and Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF to pay out dividends from its net investment income, if any, to investors semi-annually. It is the policy of Xtrackers MSCI USA ESG Leaders Equity ETF, Xtrackers S&P 500 ESG ETF, Xtrackers S&P MidCap 400 ESG ETF and Xtrackers S&P SmallCap 600 ESG ETF 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 period ended February 28, 2022, the Funds did not incur any interest or penalties.
At August 31, 2021, 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 Emerging Markets Carbon Reduction and Climate Improvers ETF |
$ | 56,337 | $ | 5,254 | $ | 61,591 | ||||||
Xtrackers MSCI EAFE ESG Leaders Equity ETF |
75,738 | 171,787 | 247,525 | |||||||||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF |
49,283 | 193,625 | 242,908 | |||||||||
Xtrackers MSCI USA ESG Leaders Equity ETF |
4,036,785 | 21,206,967 | 25,243,752 | |||||||||
Xtrackers S&P 500 ESG ETF |
304,487 | — | 304,487 |
As of August 31, 2021, 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 Emerging Markets Carbon Reduction and Climate Improvers ETF |
$ | 484,672,330 | $ | 16,359,227 | $ | 18,027,181 | $ | (1,667,954 | ) | |||||||
Xtrackers MSCI EAFE ESG Leaders Equity ETF |
15,515,051 | 3,556,895 | 3,970,952 | (414,057 | ) | |||||||||||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF |
22,326,991 | 2,961,656 | 3,733,486 | (771,830 | ) | |||||||||||
Xtrackers MSCI USA ESG Leaders Equity ETF |
2,613,059,960 | 1,274,642,509 | 1,289,542,739 | (14,900,230 | ) | |||||||||||
Xtrackers S&P 500 ESG ETF |
599,953,403 | 144,040,089 | 147,236,303 | (3,196,214 | ) | |||||||||||
Xtrackers S&P MidCap 400 ESG ETF |
10,189,433 | 762,891 | 1,142,858 | (379,967 | ) | |||||||||||
Xtrackers S&P SmallCap 600 ESG ETF |
10,284,752 | 442,892 | 1,044,269 | (601,377 | ) |
75
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Notes to Financial Statements (Unaudited) (Continued)
The tax character of current year distributions will be determined at the end of the current fiscal year.
Foreign Taxes The Funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, capital gains on investments, certain foreign currency transactions or other corporate events. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which the Funds invest. These foreign taxes, if any, are paid by the Funds and are reflected in their Statements of Operations as follows: foreign taxes withheld at source are presented as a reduction of income, foreign taxes on capital gains from sales of investments and foreign currency transactions are included in their respective net realized gain (loss) categories, and deferred foreign taxes on unrealized gains are included in net change in unrealized appreciation (depreciation). Receivables and payables related to foreign taxes as of February 28, 2022, if any, are disclosed in the Funds’ Statements of Assets and Liabilities.
Foreign Currency Translations The books and records of the Funds are maintained in U.S. dollars. Investment securities and other assets and liabilities denominated in a foreign currency are translated into U.S. dollars at the prevailing exchange rates at period end. Purchases and sales of investment securities, income and expenses are translated into U.S. dollars at the prevailing exchange rates on the respective dates of the transactions.
Net realized and unrealized gains and losses on foreign currency transactions represent net gains and losses between trade and settlement dates on securities transactions, the acquisition and disposition of foreign currencies, and the difference between the amount of net investment income accrued and the U.S. dollar amount actually received. The portion of both realized and unrealized gains and losses on investments that results from fluctuations in foreign currency exchange rates is not separately disclosed, but is included with net realized and unrealized gain/appreciation and loss/depreciation on investments.
Securities Lending The Funds may lend securities to certain financial institutions under the terms of their securities lending agreement. During the term of the loans, the Funds continue to receive interest and dividends generated by the securities and to participate in any changes in their market value. The Funds require the borrowers of the securities to maintain collateral with the Funds consisting of cash and/or securities issued or guaranteed by the U.S. Government, its agencies or instrumentalities having a value at least equal to the value of the securities loaned. When the collateral falls below specified amounts, the lending agent will use its best effort to obtain additional collateral on the next business day to meet required amounts under the securities lending agreement. During the period ended February 28, 2022, the Funds invested the cash collateral into a joint trading account in DWS Government & Agency Securities Portfolio, an affiliated money market fund managed by DWS Investment Management Americas, Inc. DWS Investment Management Americas, Inc. receives a management/administration fee (0.06% annualized effective rate as of February 28, 2022) on the cash collateral invested in DWS Government & Agency Securities Portfolio. The Funds receive compensation for lending their securities either in the form of fees or by earning interest on invested cash collateral, net of borrower rebates and fees paid to a lending agent. Either the Fund or the borrower may terminate the loan at any time and the borrower, after notice, is required to return borrowed securities within a standard time period. There may be risks of delay and costs in recovery of securities or even loss of rights in the collateral should the borrower of the securities fail financially. If the Funds are not able to recover securities lent, the Funds may sell the collateral and purchase a replacement investment in the market, incurring the risk that the value of the replacement security is greater than the value of the collateral. The Funds are also subject to all investment risks associated with the reinvestment of any cash collateral received, including, but not limited to, interest rate, credit and liquidity risk associated with such investments.
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Notes to Financial Statements (Unaudited) (Continued)
As of February 28, 2022, the Funds listed below had securities on loan. The value of the related collateral exceeded the value of the securities loaned at period end.
Remaining Contractual Maturity of the Agreements, as of February 28, 2021 |
||||||||||||||||||||
Securities Lending Transactions | Overnight and Continuous |
<30 Days | Between 30 & 90 days |
>90 days | Total | |||||||||||||||
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF |
| |||||||||||||||||||
Common Stocks |
$ | 1,966,294 | $ | 32,036 | $ | 15,291 | $ | 4,400,267 | $ | 6,413,888 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
|
$ | 6,413,888 | |||||||||||||||||
Xtrackers MSCI EAFE ESG Leaders Equity ETF |
| |||||||||||||||||||
Common Stocks |
$ | 70,402 | $ | — | $ | — | $ | 177,822 | $ | 248,224 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
|
$ | 248,224 | |||||||||||||||||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF |
| |||||||||||||||||||
Common Stocks |
$ | 89,948 | $ | 3,464 | $ | 385 | $ | 121,621 | $ | 215,418 | ||||||||||
Exchange-Trade Funds |
71,100 | — | — | — | 71,100 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total Borrowings |
$ | 161,048 | $ | 3,464 | $ | 385 | $ | 121,621 | $ | 286,518 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
|
$ | 286,518 | |||||||||||||||||
Xtrackers MSCI USA ESG Leaders Equity ETF |
| |||||||||||||||||||
Common Stocks |
$ | 865,404 | $ | 1,638 | $ | 182 | $ | 43,588 | $ | 910,812 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
|
$ | 910,812 | |||||||||||||||||
Xtrackers S&P 500 ESG ETF |
| |||||||||||||||||||
Common Stocks |
$ | — | $ | 20,521 | $ | 39,019 | $ | 1,235,556 | $ | 1,295,096 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
|
$ | 1,295,096 | |||||||||||||||||
Xtrackers S&P MidCap 400 ESG ETF |
| |||||||||||||||||||
Common Stocks |
$ | — | $ | 20,642 | $ | 796 | $ | 114,200 | $ | 135,638 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
|
$ | 135,638 | |||||||||||||||||
Xtrackers S&P SmallCap 600 ESG ETF |
| |||||||||||||||||||
Common Stocks |
$ | 54,608 | $ | 1,102 | $ | 122 | $ | 392,245 | $ | 448,077 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
|
$ | 448,077 |
Derivatives
Futures Contracts Each Fund may enter into futures contracts. These futures contracts will be used to simulate investment in the respective Underlying Index, to facilitate trading or to reduce transaction costs. Each Fund will enter into futures contracts that are traded on a U.S. or non-U.S. exchange. No Fund will use futures for speculative purposes. Futures contracts provide for the future sale by one party and purchase by another party of a specified amount of a specific instrument or index at a specified future time and at a specified price. For the period ended February 28, 2022, Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF, Xtrackers MSCI EAFE ESG Leaders Equity ETF, Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF, Xtrackers MSCI USA ESG Leaders Equity ETF and 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
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Notes to Financial Statements (Unaudited) (Continued)
privately negotiated futures contracts, since the clearinghouse, which is the issuer or counterparty to each exchange-traded future, provides a guarantee of performance. The guarantee is supported by a daily payment system (i.e., margin requirements).
Use of long futures contracts subjects each Fund to risk of loss in excess of the amounts shown on the Statement of Assets and Liabilities, up to the notional value of the futures contracts. Use of short futures contracts subjects each Fund to unlimited risk of loss. Under some circumstances, futures exchanges may establish daily limits on the amount that the price of a futures contract can vary from the previous day’s settlement price, which could effectively prevent liquidation of unfavorable positions.
A summary of the open futures contracts as of February 28, 2022 is included in a table following the Funds’ Schedule of Investments.
The following tables summarize the value of the Funds’ derivative instruments held as of February 28, 2022 and the related location in the accompanying Statement of Assets and Liabilities, presented by primary underlying risk exposure:
Asset Derivatives |
Liability Derivatives |
|||||||||||||
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF |
| |||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | — | Unrealized depreciation on futures contracts* | $ | 25,280 | ||||||||
Xtrackers MSCI EAFE ESG Leaders Equity ETF |
| |||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | — | Unrealized depreciation on futures contracts* | $ | 3,269 | ||||||||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF |
| |||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | — | Unrealized depreciation on futures contracts* | $ | 1,985 | ||||||||
Xtrackers MSCI USA ESG Leaders Equity ETF |
| |||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | — | Unrealized depreciation on futures contracts* | $ | 293,290 | ||||||||
Xtrackers S&p 500 ESG ETF |
| |||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | — | Unrealized depreciation on futures contracts* | $ | 35,445 |
* |
Includes cumulative appreciation or cumulative depreciation of futures contracts as disclosed in the Schedule of Investments. Unsettled variation margin is disclosed separately within the Statement of Assets and Liabilities. |
Additionally, the amount of realized and unrealized gains and losses on derivative instruments recognized in the Funds’ earnings during the period ended February 28, 2022 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 Emerging Markets Carbon Reduction and Climate Improvers ETF |
$ | (32,170 | ) | |
Xtrackers MSCI EAFE ESG Leaders Equity ETF |
1,923 | |||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF |
(8,552 | ) | ||
Xtrackers MSCI USA ESG Leaders Equity ETF |
234,678 | |||
Xtrackers S&P 500 ESG ETF |
71,895 | |||
Net Change in Unrealized Appreciation (Depreciation) on: |
||||
Futures Contracts — Equity Contracts |
||||
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF |
$ | (24,824 | ) | |
Xtrackers MSCI EAFE ESG Leaders Equity ETF |
(3,352 | ) | ||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF |
(6,050 | ) | ||
Xtrackers MSCI USA ESG Leaders Equity ETF |
(589,415 | ) | ||
Xtrackers S&P 500 ESG ETF |
(108,005 | ) |
78
DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
For the period ended February 28, 2022 the average monthly volume of derivatives was as follows:
Futures Contracts (Contract Value) |
||||
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF |
$ | 516,133 | ||
Xtrackers MSCI EAFE ESG Leaders Equity ETF |
67,406 | |||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF |
98,226 | |||
Xtrackers MSCI USA ESG Leaders Equity ETF |
4,910,911 | |||
Xtrackers S&P 500 ESG ETF |
1,431,883 |
Affiliated Cash Management Vehicles The Funds may invest uninvested cash balances in DWS Government Money Market Series and DWS ESG Liquidity Fund, affiliated money market funds which are managed by DWS Investment Management Americas, Inc. (“DIMA”), also an indirect, wholly owned subsidiary of DWS Group GmbH & Co. KGaA. Each affiliated money market fund is managed in accordance with Rule 2a-7 under the 1940 Act, which governs the quality, maturity, diversity and liquidity of instruments in which a money market fund may invest. DWS Government Money Market Series seeks to maintain a stable NAV, and DWS ESG Liquidity Fund maintains a floating NAV. The Funds indirectly bear their proportionate share of the expenses of each affiliated money market fund in which they invest. The Advisor will waive an amount of the unitary advisory fee payable to the Advisor by the Funds equal to such acquired fund’s fees and expenses on the Funds’ assets invested in the affiliated money market funds.
3. Investment Advisory and Other Agreements
The Advisor has overall responsibility for the general management and administration of the Funds, subject to the supervision of the Funds’ Board of Trustees. Under an investment advisory agreement between the Trust, on behalf of the Funds, and the Advisor (the “Investment Advisory Agreement”), the Advisor is responsible for arranging sub-advisory, transfer agency, custody, fund administration, and all other non-distribution related services for the Funds to operate.
For its investment advisory services to the Funds below, the Advisor 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 Emerging Markets Carbon Reduction and Climate Improvers ETF |
0.15 | % | ||
Xtrackers MSCI EAFE ESG Leaders Equity ETF |
0.14 | % | ||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF |
0.20 | % | ||
Xtrackers MSCI USA ESG Leaders Equity ETF |
0.10 | % | ||
Xtrackers S&P 500 ESG ETF |
0.11 | % | ||
Xtrackers S&P MidCap 400 ESG ETF |
0.15 | % | ||
Xtrackers S&P SmallCap 600 ESG ETF |
0.15 | % |
The Advisor for the Xtrackers MSCI USA ESG Leaders Equity ETF has voluntarily elected to waive its fees and/or reimburse Fund expenses to the extent necessary to maintain the Fund’s total annual operating expenses (excluding certain expenses such as extraordinary expenses, taxes, brokerage, interest expense and acquired fund fees and expenses) at 0.09% of the Fund’s average daily net assets. Any voluntary waiver or reimbursement implemented by the Advisor may be eliminated by the Advisor at any time. For the period ended February 28, 2022, the Advisor waived $189,500 of expenses to the Fund.
The Advisor for the Xtrackers S&P 500 ESG ETF has contractually agreed through December 16, 2022 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 period ended February 28, 2022, the Advisor waived $40,598 of expenses to the Fund.
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Notes to Financial Statements (Unaudited) (Continued)
The Advisor for the Funds below has contractually agreed to waive a portion of its unitary advisory fee in an amount equal to the acquired fund’s fees and expenses attributable to the Funds’ investments in affiliated Funds. For the period ended February 28, 2022, the Advisor waived expenses of the Funds as follows:
Expenses Waived |
||||
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF |
$ | 65 | ||
Xtrackers MSCI EAFE ESG Leaders Equity ETF |
2 | |||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF |
14 | |||
Xtrackers MSCI USA ESG Leaders Equity ETF |
593 | |||
Xtrackers S&P 500 ESG ETF |
191 | |||
Xtrackers S&P MidCap 400 ESG ETF |
1 | |||
Xtrackers S&P SmallCap 600 ESG ETF |
1 |
Out of the unitary advisory fee, the Advisor pays substantially all expenses of each Fund, including the cost of transfer agency, custody, fund administration, legal, audit and other services, and expenses of the Independent Trustees. Each Fund is responsible for the payment of interest expense, acquired fund fees and expenses, taxes, brokerage expenses, distribution fees or expenses, if any, litigation expenses and extraordinary expenses.
The Bank of New York Mellon, a wholly-owned subsidiary of The Bank of New York Mellon Corporation, serves as Administrator, Custodian, Accounting Agent, Lending Agent and Transfer Agent for each Fund.
ALPS Distributors, Inc. (the “Distributor”) serves as the distributor of Creation Units for each Fund on an agency basis. The Distributor does not maintain a secondary market in shares of the Funds.
The Board of Trustees is currently comprised of three Independent Trustees. The Advisor paid retainer fees and attendance fees to each Independent Trustee; retainer fees to the Chairman of the Board of Trustees and Chairman of the Audit Committee; and attendance fees to each member of the Audit Committee (which is comprised of all of the Funds’ Independent Trustees).
4. Investment Portfolio Transactions
For the period ended February 28, 2022, 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 Emerging Markets Carbon Reduction and Climate Improvers ETF |
$ | 297,324,751 | $ | 52,761,016 | ||||
Xtrackers MSCI EAFE ESG Leaders Equity ETF |
1,429,456 | 1,263,764 | ||||||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF |
2,211,783 | 819,760 | ||||||
Xtrackers MSCI USA ESG Leaders Equity ETF |
31,185,857 | 35,313,865 | ||||||
Xtrackers S&P 500 ESG ETF |
6,228,467 | 5,229,288 | ||||||
Xtrackers S&P MidCap 400 ESG ETF |
1,152,723 | 1,144,649 | ||||||
Xtrackers S&P SmallCap 600 ESG ETF |
900,776 | 973,320 |
For the period ended February 28, 2022, the cost of in-kind purchases and proceeds from in-kind sales were as follows:
Purchases | Sales | |||||||
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF |
$ | 58,777,132 | $ | — | ||||
Xtrackers MSCI EAFE ESG Leaders Equity ETF |
10,710,598 | — | ||||||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF |
299,265 | — | ||||||
Xtrackers MSCI USA ESG Leaders Equity ETF |
391,711,479 | 997,594,377 | ||||||
Xtrackers S&P 500 ESG ETF |
219,885,881 | 84,436,631 | ||||||
Xtrackers S&P MidCap 400 ESG ETF |
— | — | ||||||
Xtrackers S&P SmallCap 600 ESG ETF |
— | — |
5. Fund Share Transactions
As of February 28, 2022, 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
80
DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
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 February 28, 2022, 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 MidCap 400 ESG ETF |
84 | % | ||
Xtrackers S&P SmallCap 600 ESG ETF |
95 | % |
7. Investing in Emerging Markets
The securities of issuers located in emerging markets tend to be more volatile and less liquid than securities of issuers located in more mature economies, and emerging markets generally have less diverse and less mature economic structures and less stable political systems than those of developed countries. The securities of issuers located or doing substantial business in emerging markets are often subject to rapid and large changes in price.
Investing in securities of Chinese issuers involves certain risks and considerations not typically associated with investing in securities of U.S. issuers, including, among others; more frequent (and potentially widespread) trading suspensions and government interventions with respect to Chinese issuers, resulting in lack of liquidity and in price volatility; currency revaluations and other currency exchange rate fluctuations or blockage; the nature and extent of intervention by the Chinese government in the Chinese securities markets (including both direct and indirect market stabilization efforts, which may affect valuations of Chinese issuers), whether such intervention will continue and the impact of such intervention or its discontinuation; the risk of nationalization or expropriation of assets; the risk that the Chinese government may decide not to continue to support economic reform programs; limitations on the use of brokers (or action by the Chinese government that discourages brokers from serving international clients); higher rates of inflation; greater political, economic and social uncertainty; higher market volatility caused by any potential regional territorial conflicts or natural disasters; the risk of increased trade tariffs, embargoes and other trade limitations; restrictions on foreign ownership; custody risks associated with investing through Shanghai — Hong Kong and Shenzhen — Hong Kong Stock Connect programs, Renminbi Qualified Foreign Institutional Investor program or other programs to access the Chinese securities markets, both interim and permanent market regulations which may affect the ability of certain stockholders to sell Chinese securities when it would otherwise be advisable; and different and less stringent financial reporting standards. In addition, in June 2021, President Biden issued an executive order (“CMIC Order”) prohibiting U.S. persons, including the Funds, from purchasing or selling publicly traded securities (including publicly traded securities that are derivative of, or designed to provide exposure to, such securities) of any Chinese company identified as a “Chinese Military-Industrial Complex Company” (“CMIC”). This prohibition, effective August 2, 2021, expands on similar sanctions imposed by the prior administration on certain designated Chinese military companies (“CCMCs”) that took effect in January 2021. To the extent that any company in an Underlying Index is identified as a CMIC at any time (or was previously designated as a CCMC), it may have material adverse effect on a fund’s ability to track its Underlying Index.
8. Line of Credit
The Trust has entered into a senior unsecured credit facility with a syndication of banks which allows the Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF, Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF and certain other funds managed by the Advisor to borrow up to $105 million. Each Fund
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Notes to Financial Statements (Unaudited) (Continued)
may borrow money under this credit facility to the extent necessary for temporary or emergency purposes, including the funding of shareholder redemption requests, trade settlements, and as necessary to distribute to shareholders any income necessary to maintain each Funds’ status as a regulated investment company. Borrowings are charged an interest rate of 1.25% per annum plus the greater of the Federal Funds Effective Rate or the one-month LIBOR Rate. Each Fund may borrow up to the lesser of 33 percent of its net assets as permitted by the Act or 25 percent of adjusted total net assets. The Funds had no outstanding loans at February 28, 2022.
9. Other — COVID-19 Pandemic
A novel coronavirus known as COVID-19, declared a pandemic by the World Health Organization, has caused significant uncertainty, market volatility, decreased economic and other activity, increased government activity, including economic stimulus measures, and supply chain interruptions. The full effects, duration and costs of the COVID-19 pandemic are impossible to predict, and the circumstances surrounding the COVID-19 pandemic will continue to evolve, including the risk of future increased rates of infection due to low vaccination rates and/or the lack of effectiveness of current vaccines against new variants. The pandemic has affected and may continue to affect certain countries, industries, economic sectors, companies and investment products more than others, may exacerbate existing economic, political, or social tensions and may increase the probability of an economic recession or depression. The Funds’ and their investments may be adversely affected by the effects of the COVID-19 pandemic, and the pandemic may result in the Funds and their service providers experiencing operational difficulties in coordinating a remote workforce and implementing their business continuity plans, among others. Management will continue to monitor the impact COVID-19 has on the Funds and reflect the consequences as appropriate in the Funds’ accounting and financial reporting.
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DBX ETF Trust
In accordance with Rule 22e-4 (the “Liquidity Rule”) under the Investment Company Act of 1940 (the “1940 Act”), your Fund has adopted a liquidity risk management program (the “Program”), and the Board has designated DBX Advisors LLC (“Advisors”) as Program administrator. The Program is designed to assess and manage your Fund’s liquidity risk (the risk that the Fund would be unable to meet requests to redeem shares of the Fund without significant dilution of remaining investors’ interests in the Fund). Advisors has designated a committee (the “Committee”) composed of personnel from multiple departments within an affiliate of Advisors that is responsible for the implementation and ongoing administration of the Program, which includes assessing the Fund’s liquidity risk under both normal and reasonably foreseeable stressed conditions. Under the Program, every investment held by a Fund is classified on a daily basis into one of four liquidity categories based on estimations of the investment’s ability to be sold during designated timeframes in current market conditions without significantly changing the investment’s market value.
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF, Xtrackers MSCI EAFE ESG Leaders Equity ETF, Xtrackers MSCI USA ESG Leaders Equity ETF, Xtrackers S&P 500 ESG ETF, Xtrackers S&P MidCap 400 ESG ETF and Xtrackers S&P SmallCap 600 ESG ETF
In February 2022, as required by the Program and the Liquidity Rule, Advisors provided the Board with an annual written report (the “Report”) addressing the operation of the Program and assessing the adequacy and effectiveness of its implementation during the period from December 1, 2020 through November 30, 2021 (the “Reporting Period”). During the Reporting Period, your Fund was primarily invested in highly liquid investments (investments that the Fund anticipates can be converted to cash within 3 business days or less in current market conditions without significantly changing their market value). As a result, your Fund is not required to adopt, and has not adopted, a “Highly Liquid Investment Minimum” as defined in the Liquidity Rule. During the Reporting Period, the Fund did not approach the 15% limit imposed by the Liquidity Rule on holdings in illiquid investments (investments that cannot be sold or disposed of in seven days or less in current market conditions without the sale of the investment significantly changing the market value of the investment). Your Fund did not experience any issues meeting investor redemptions at any time during the Reporting Period. In the Report, Advisors stated that it believes the Program has operated adequately and effectively to manage the Fund’s liquidity risk during the Reporting Period. Advisors also reported that there were no material changes made to the Program during the Reporting Period.
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF
In February 2022, as required by the Program and the Liquidity Rule, Advisors provided the Board with an annual written report (the “Report”) addressing the operation of the Program and assessing the adequacy and effectiveness of its implementation during the period from December 1, 2020 through November 30, 2021 (the “Reporting Period”). During the Reporting Period, your Fund was primarily invested in highly liquid investments (investments that the Fund anticipates can be converted to cash within three business days or less in current market conditions without significantly changing their market value). As a result, your Fund is not required to adopt, and has not adopted, a “Highly Liquid Investment Minimum” as defined in the Liquidity Rule. During the Reporting Period, the Fund did experience a temporary breach of the 15% limit imposed by the Liquidity Rule on holdings in illiquid investments (investments that cannot be sold or disposed of in seven days or less in current market conditions without the sale of the investment significantly changing the market value of the investment). The breach was caused by the temporary reclassification of Chinese securities as illiquid due to an extended Chinese and Taiwan holiday market closure in February 2021. The temporary reclassification of Chinese securities caused the Fund to exceed the 15% limit on illiquid investments. Because a notification to the Fund’s board of the anticipated extended holiday closure was made before the start of the holiday closure no filing on Form N-LIQUID was required. Also, because the holiday closure was anticipated in advance, no actions were needed to rebalance the Fund’s portfolio. Your Fund did not experience any issues meeting investor redemptions at any time during the Reporting Period. In the Report, Advisors stated that it believes the Program has operated adequately and effectively to manage the Fund’s liquidity risk during the Reporting Period. Advisors also reported that there were no material changes made to the Program during the Reporting Period.
83
DBX ETF Trust
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF, Xtrackers MSCI EAFE ESG Leaders Equity ETF, Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF, Xtrackers MSCI USA ESG Leaders Equity ETF, Xtrackers S&P 500 ESG ETF, Xtrackers S&P MidCap 400 ESG ETF and Xtrackers S&P SmallCap 600 ESG ETF
Board Approval of Investment Advisory Agreement with DBX Advisors LLC
After discussions at the meeting of the Board of Trustees (“Board” or “Trustees”) held on February 16-17, 2022 (the “Meeting”), the Trustees, all of whom are the Independent Trustees (those not affiliated with DBX ETF Trust (the “Trust”) or its service providers), unanimously approved the continuance of the Investment Advisory Agreement with respect to Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF, Xtrackers MSCI EAFE ESG Leaders Equity ETF, Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF, Xtrackers MSCI USA ESG Leaders Equity ETF, Xtrackers S&P 500 ESG ETF, Xtrackers S&P MidCap 400 ESG ETF, and Xtrackers S&P SmallCap 600 ESG ETF (each a “Fund,” and collectively, the “Funds”). The Independent Trustees were advised throughout the review and Meeting by K&L Gates LLP (“Independent Trustee Counsel”).
Before reaching their decision to approve the Investment Advisory Agreement for another annual period, the Independent Trustees evaluated the materials furnished to them in advance of the Meeting from DBX Advisors LLC (“DBX” or the “Advisor”) for purposes of reviewing the agreement’s terms, including statistical information prepared by Broadridge Financial Solutions Inc. (“Broadridge”) regarding (a) fee and expense information for each Fund (including the fee and expense components and any amounts waived or reimbursed) as compared to a peer group of other exchange-traded funds (“ETFs”) selected pursuant to Broadridge’s proprietary methodology (each, a “Peer Group”) and (b) each Fund’s tracking error as compared to its underlying index over the previous five years (or since inception, if shorter). The Independent Trustees also took into consideration the discussions they had with management during the Meeting and among themselves during their Executive Sessions held on February 16 and February 17, 2022. The Independent Trustees also noted that they had received and should take into consideration a substantial amount of information furnished throughout the year at regular Board meetings, which information included, among other things, an analysis of each Fund’s investment performance, tracking error and related financial information, presentations given by DBX, as well as its periodic reports on brokerage commissions, portfolio execution and other services provided to the Funds.
In reaching its decision to continue in effect the Investment Advisory Agreement for another annual period, the Board considered all factors it believed relevant, including (1) the nature, extent and quality of the services provided to the Funds and their shareholders; (2) the financial resources of DBX and its resulting ability to perform its obligations under the Investment Advisory Agreement; (3) the competitiveness of the advisory fee; (4) the total cost of the services provided by and the profits realized by the Advisor from its relationship with the Funds; (5) the extent to which economies of scale have been realized, and if the Funds’ shareholders have benefitted from those economies; and (6) fall out benefits, if any, enjoyed by the Advisor.
The Board reached a determination, with the assistance of Independent Trustee Counsel and Vedder Price P.C. (“Trust Counsel”) and through the exercise of its business judgment, that approval of the Investment Advisory Agreement and the compensation to be received thereunder is in the best interests of each Fund and its shareholders as well as consistent with the Board’s duties under state and federal law. The Board reached this conclusion based on multiple factors.
The Board considered the following in determining whether to approve the Investment Advisory Agreement:
Nature, Extent and Quality of Services. The Board reviewed in detail the nature, extent and quality of services provided and the risks incurred by the Advisor under the Investment Advisory Agreement. In doing so, the Board considered the information it had received from and the discussions it had with the Advisor continuously during the prior year, in addition to the information the Advisor had provided in response to the Board’s requests prior to the Meeting. The Board considered that these services include, among other things, furnishing a continuous investment program for the Funds, including arranging for, or implementing, the purchase and sale of portfolio securities, the provision of general corporate services such as portfolio management compliance services and the preparation and filing of certain reports on behalf of the Trust. The Board also considered, among other things, the professional experience, qualifications and performance of the senior management and key professional personnel of the Advisor, including portfolio management.
84
DBX ETF Trust
Board Considerations in Approval of Investment Advisory
Contracts (Unaudited) (Continued)
The Board considered that the Advisor provides, at its own expense, office facilities and equipment for use by the Funds and supervisory persons responsible for supervising and monitoring the Trust’s service providers. The Board also considered that the Advisor pays or arranges for the compensation of officers of the Trust who are also officers or employees of the Advisor or one of its DWS Group affiliates, except as may otherwise be determined by the Board. In addition, the Board considered that the Advisor arranges for the provision of transfer agency, custody, fund administration and accounting, and other non-distribution services necessary for the Funds’ operations. The Board also considered that in addition to managing the Funds’ portfolios directly, the Advisor provides oversight of day-to-day operations, including monitoring tracking error, providing services in connection with the creation and redemption of creation units and assistance in meeting legal, compliance and regulatory requirements applicable to the Funds.
The Board considered the information regarding each Fund’s tracking error compared to its underlying index that had been provided by the Advisor and by Broadridge. The Board took note of the detailed information provided by the Advisor throughout the year with respect to each Fund’s tracking error and the sources thereof. The Trustees noted that tracking error for each Fund during the year was in an expected range.
Based on its review, the Board concluded that the nature, extent, and quality of services provided by the Advisor under the Investment Advisory Agreement are reasonable and appropriate in relation to the fees paid to the Advisor, taking special consideration of the fact that the advisory fee is a unitary fee and, as a result, a portion of the unitary advisory fee will be used to compensate the Funds’ service providers. The Board considered the staffing of the Advisor, including the training, qualifications and experience of investment personnel in managing the Funds. The Board also considered the expertise of the Advisor in supervising third party service providers to the Funds, such as the administrator and the custodian, noting the Advisor’s extensive work with these service providers (including onsite due diligence sessions) to conduct such supervision. The Board further considered the compliance program of the Advisor, which supports the Funds’ compliance program.
Advisor’s Financial Resources. In connection with the assessment of the ability of the Advisor to perform its duties under the Investment Advisory Agreement, the Board considered the Advisor’s financial condition and whether it has the resources necessary to carry out its functions. The Board concluded that the Advisor has the financial resources necessary to perform its obligations under the Investment Advisory Agreement.
Reasonableness of Advisory Fee. The Board compared each Fund’s advisory fee and total expenses to those of the other ETFs in its Peer Group. The Board noted that due to the special characteristics of certain Funds, there were limitations faced by Broadridge in providing comparable funds in the Peer Groups and the information in the Broadridge reports accordingly may or may not provide meaningful direct comparisons to the Funds. The Board also noted that the advisory fees and total expenses (after waivers/reimbursements) for many of the Funds were below or equal to the average and/or median of the ETFs in each Fund’s respective Peer Group compiled by Broadridge, but the following Fund had advisory fees and/or total expenses (after waivers/reimbursements) that were above the average and/or median of its respective Peer Group:
• |
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF |
The Board considered, however, the following additional factors in connection with the following Fund:
• |
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF’s advisory fees were equivalent to the median and its total expenses were below the average and the median of its Peer Group. |
The Board accordingly noted that each Fund’s fee is competitive with the fees of applicable peer ETFs.
The Board considered that the fee for each of the Funds is a unitary fee pursuant to which the Advisor pays all of the Funds’ costs (subject to certain specified exceptions). The Board considered that each Fund’s fee had been priced to scale when it was established. The Board also considered that each Fund’s portfolio is managed on a day-to-day basis by the Advisor and that the Advisor also provides oversight of day-to-day operations, including monitoring tracking error, providing services in connection with creation and redemption units and assistance in meeting legal and regulatory requirements applicable to the Funds. Based on its review, the Board concluded that the advisory fee for each Fund is reasonable in light of the services provided.
85
DBX ETF Trust
Board Considerations in Approval of Investment Advisory
Contracts (Unaudited) (Continued)
Costs of Services and Profitability. The Board considered the expenses of the Advisor in developing and rendering services provided to the Funds and the information provided by the Advisor to the Board regarding the Funds’ profitability. The Board considered that the Advisor had provided extensive information about the Advisor’s profitability and the Advisor’s methodology in determining profitability. While the Advisor had provided information about the Advisor’s expenses relating to marketing the Funds, the Board considered the Advisor’s profitability without accounting for such expenses. The Board determined that, although only some of the Funds were profitable as of this time, the Advisor’s profitability with respect to each profitable Fund was not excessive. The Board considered whether the Advisor would benefit in other ways from its relationships with the Funds and concluded that there were no material fall-out benefits likely to accrue to the Advisor related to the operation of the Funds.
Economies of Scale. The Board considered that certain Funds had attracted a substantial amount of assets, but determined that those Funds were not experiencing economies of scale beyond what was reflected in each Fund’s unitary fee, which the Board noted was very competitive. The Board considered that the other Funds were not experiencing economies of scale at this time and determined to revisit this matter after the Funds had attracted more assets.
Given all the information available to it and considering all material factors, the Board concluded that the Investment Advisory Agreement was fair and reasonable and it was unanimously approved.
86
DBX ETF Trust
Proxy Voting Policies and Procedures
The Funds’ policies and procedures for voting proxies for portfolio securities and information about how each Fund voted proxies related to its portfolio securities during the most recent 12-month period ended June 30 are available on our Web site — www.Xtrackers.com (click on “Resources” and “Proxy Voting” at the top of the page) — or on the SEC’s Web site — www.sec.gov. To obtain a written copy of the Funds’ policies and procedures without charge, upon request, call us toll free at (855) 329-3837.
Portfolio Holdings Information
The Funds are required to file their complete schedule of portfolio holdings with the SEC for their first and third fiscal quarters on Form N-PORT. Copies of the filings are available without charge, upon request on the SEC’s website at www.sec.gov and are available by calling the Trust at 855-329-3837.
Information about each Fund’s portfolio holdings is available daily at www.Xtrackers.com.
Discount & Premium Information
Information regarding how often shares of each Fund traded on NYSE Arca at a price above (i.e.,at a premium) or below (i.e., at a discount) the NAV of the Fund can be found at www.Xtrackers.com.
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DBX ETF Trust
DBX Advisors LLC (“Advisors”) collects non-public information about you from the following sources: (i) information received from you on applications or other forms; and (ii) information about your transactions with the Advisors, Advisors’ affiliates and third-party service providers and vendors. Advisors does not disclose any non-public personal information about you to anyone, other than as set forth below, as permitted by applicable law and regulation. Advisors may disclose non-public personal information about you to the funds in which you invest, to Advisors’ affiliates, and to non-affiliated companies that work with Advisors to service your account(s), or to provide services or process transactions that you have requested. Advisors may disclose non-public personal information in situations that may include, but are not limited to, in response to legal and/or regulatory inquiries and the proposed or actual sale, assignment merger or other transfer of all or a portion of Advisors’ business to another business entity. Advisors may also disclose non-public personal information about you to parties representing you, such as your investment representative, your accountant, your tax advisor, or to other third parties at your direction/consent. Advisors will not sell, rent, license or trade your personal and financial information to or with third parties for their own direct marketing use unless you give us general or specific consent to do so. If you decide to close your account(s) or become an inactive customer, Advisors will adhere to the privacy policies and practices as described in this notice. Advisors restricts access to your personal and account information to those employees who need to know that information to provide products and services to you. Advisors maintains reasonable and customary physical, electronic and procedural safeguards to guard your non-public personal information.
California residents may go to https://fundsus.dws.com/us/en-us/legal-resources/privacy-policy.html to obtain additional information relating to their rights under California state law.
Advisors reserves the right, at their discretion, to change, modify, add, or remove portions of this Privacy Policy Notice, and any of the policies described herein, at any time. Advisors will indicate any such changes to the Privacy Policy Notice at the privacy link which can be found at www.Xtrackers.com. At all times, you are bound by the then-current version of the Privacy Policy and all applicable laws. Advisors highly recommends that you review this Privacy Policy Notice from time to time to ensure that you are familiar with the most recent version. The examples contained in this Privacy Policy Notice are illustrations; they are not intended to be exclusive.
Rev. 12/2021
88
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. 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. Foreign investing involves greater and different risks than investing in US companies, including currency fluctuations, less liquidity, less developed or less efficient trading markets, lack of comprehensive company information, political instability and differing auditing and legal standards. Emerging markets tend to be more volatile and less liquid than the markets of more mature economies, and generally have less diverse and less mature economic structures and less stable political systems than those of developed countries. 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, except EASG, EMCR and USSG 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. In certain situations, it may be difficult or impossible to sell an investment at an acceptable price. Any fund that focuses in a particular segment of the market or region of the world will generally be more volatile than a fund that invests more broadly. 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.
The U.S. government has imposed restrictions on the ability of U.S. investors to hold and/or acquire securities of certain Chinese companies. To the extent that an Underlying Index includes such a security and the Fund excludes it, the Fund’s tracking error may increase and the performance of the Fund and Underlying Index may diverge.
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 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 its investments.
Shares of the Funds are bought and sold at market price (not NAV) throughout the day on the NYSE Arca, Inc. Transactions in Fund shares may result in brokerage commissions and may generate tax consequences. There can be no assurance that an active trading market for shares of a Fund will develop or be maintained.
DBX ETF Trust Funds are distributed by ALPS Distributors, Inc. (“ALPS”). The Funds are managed by DBX Advisors LLC which is not affiliated with ALPS.
The brand DWS represents DWS Group GmbH & Co. KGaA and any of its subsidiaries such as DWS Distributors, Inc. which offers investment products or DWS Investment Management Americas, Inc. and RREEF America L.L.C. which offer advisory services.
The Funds or securities referred to herein are not sponsored, endorsed, issued, sold or promoted by MSCI, and MSCI bears no liability with respect to any such Funds or securities or any index on which such Funds or securities are based. The prospectus contains a more detailed description of the limited relationship MSCI has with DBX Advisors LLC and any related funds.
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. 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.
EMCR (the “Fund”) is not sponsored, endorsed, sold or promoted by Solactive. Neither Solactive nor any other party makes any representation or warranty, express or implied, to the owners of the Fund or any member of the public regarding advisability of investing in funds generally or in this Fund particularly or the ability of the Underlying Indexes to track general stock market performance. Neither Solactive nor any other party makes any express or implied warranties, and Solactive hereby expressly disclaims all warranties of merchantability or fitness for a particular purpose with respect to the Underlying Indexes or any data included therein. The prospectus contains a more detailed description of the limited relationship Solactive has with DBX Advisors LLC and any related funds.
Copyright © 2022 DWS Group. All rights reserved. XtrackersTM is a trademark of DWS Investment GmbH. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
Not FDIC Insured | No Bank Guarantee | May Lose Value
DBX ETF Trust
Investment advisor DBX Advisors LLC 875 Third Avenue New York, NY 10022 |
Administrator, custodian, fund accounting agent, lending agent & transfer agent The Bank of New York Mellon 240 Greenwich Street New York, NY 10286 |
Distributor ALPS Distributors, Inc. 1290 Broadway Suite 1000 Denver, CO 80203 | ||
Independent registered public accounting firm Ernst & Young LLP One Manhattan West New York, NY 10001 |
Legal counsel Vedder Price P.C. 1633 Broadway New York, NY 10019 |
R-065808-4 (4/22) DBX005126 (4/23)