UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-22487
DBX ETF Trust
(Exact name of registrant as specified in charter)
875 Third Avenue
New York, New York 10022
(Address of principal executive offices) (Zip code)
Diane Kenneally
100 Summer Street
Boston, MA 02110
(Name and address of agent for service)
Registrant’s telephone number, including area code: (212) 454-4500
Date of fiscal year end: August 31
Date of reporting period: February 28, 2021
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. | Reports to Stockholders. |
(a) | Include a copy of the report transmitted to stockholders pursuant to Rule 30e-1 under the Act (17 CFR 270.30e-1). |
The Report to Shareholders is attached herewith.
(b) | Not applicable |
February 28, 2021
Semi-Annual Report
DBX ETF Trust
Xtrackers FTSE Developed ex US Multifactor ETF (DEEF)
(Formerly known as Xtrackers FTSE Developed ex US Comprehensive Factor ETF)
Xtrackers MSCI Kokusai Equity ETF (KOKU)
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (QARP)
Xtrackers Russell US Multifactor ETF (DEUS)
(Formerly known as Xtrackers Russell 1000 Comprehensive Factor ETF)
DBX ETF Trust
Page | ||||
1 | ||||
Portfolio Summary | ||||
2 | ||||
3 | ||||
4 | ||||
5 | ||||
6 | ||||
Schedule of Investments | ||||
7 | ||||
21 | ||||
35 | ||||
40 | ||||
50 | ||||
51 | ||||
52 | ||||
54 | ||||
56 | ||||
65 | ||||
Board Considerations in Approval of Investment Advisory Contracts | 66 | |||
69 | ||||
70 |
To our Shareholders: (Unaudited)
Dear Shareholder,
We are pleased to provide this semiannual report for four of our equity ETFs for the period ended February 28, 2021.
The ascent in global economic growth began toward the end of 2020, as most nations started relaxing their rigorous lockdown restrictions in response to the introduction of various vaccines. Although progress in vaccination drives saw economic and social activities gradually limping back to normalcy in the later part of the year, unemployment rates in many major economies like the U.S. remained fairly high compared to pre-pandemic levels. On the other hand, following a decline in global gross domestic product and global industrial throughput in early 2020, they began to recover in the second half of 2020.
As a result of the ease in social distancing restrictions in the second half of 2020, many sectors across the U.S. economy have recovered at a rapid pace. Consumers who made significant savings during the lockdown have started spending, leading to a resurgence in demand. With 82m vaccine doses already administered, the U.S. economy has started to prosper, evident in a significant drop in unemployment rate, which is still above comfortable levels. The Federal Reserve Board (FRB), aiming to achieve the desired inflation and employment rate, has been maintaining federal funds rate less than 0.25% since spring 2020. It also introduced measures to support the flow of credit, backed by the Treasury, using funds appropriated under the CARES Act. While U.S. equity markets remained volatile through the initial months of 2021, major sectors of economy recovered.
In the second half of 2020, pandemic-related social distancing and mass job losses began a plunge in the Eurozone’s economy that persists to date. Significant monetary policies have been adopted by the European Central Bank (ECB) to combat the economic contraction, including a reduction in business-related costs and introduction of new work programs. The European Banking Authority and the ECB aim to focus on bank lending to prop up the economy. Specifically, they have adopted guidelines to emphasize extended repayment schedules of nonperforming loans to reinstate steady risk management and asset valuation, rather than having to account for them as bad loans. Most sectors in European equity markets witnessed a sharp recovery in Q4 2020. UK equities, in response to the Brexit trade deal with the EU, have also shown positive growth(1).
Emerging market economies, which were deeply impacted by the pandemic, started to show signs of recovery in Q3 2020 as central banks pushed for monetary easing and low interest rates. Despite underperforming initially, China’s indexes advanced in the beginning of 2021 after the manufacturing industry stabilized. While fiscal balance deteriorated in most countries, it weakened more in Asia, in general.
Worldwide, economies that shrank owing to the unprecedented pandemic are projected to recover over the near term, bolstered by the vaccine drives and positive growth in consumer demand. However, newer variants of the virus pose a possible threat to this recovery. Furthermore, for economies to overcome the long lasting adverse effects of the pandemic, comprehensive fiscal and monetary policies are essential. The FRB had expressed that it will keep a close watch on inflation as vaccination would allow consumers to spend inordinately while maintaining a balance by keeping interest rates at zero in the near future.
Our team appreciates your trust and looks forward to serving your investment needs through innovative index-driven strategies.
Sincerely,
/s/ Freddi Klassen
Freddi Klassen
President and Chief Executive Officer
Assumptions, estimates and opinions contained in this document constitute our judgment as of the date of the document and are subject to change without notice. Any projections are based on a number of assumptions as to market conditions and there can be no guarantee that any projected results will be achieved. Past performance is not a guarantee of future results.
(1) Brexit is a combination of words “Britain” and “Exit” and describes the exit of the United Kingdom from the Europe Union.
1
DBX ETF Trust
Portfolio Summary (Unaudited)
Xtrackers FTSE Developed ex US Multifactor ETF (DEEF)
Xtrackers FTSE Developed ex US Multifactor ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the FTSE Developed ex US Comprehensive Factor Index (the “Underlying Index”). The Underlying Index is designed to track the equity market performance of companies in developed countries (except the United States) selected on the investment style criteria (“factors”) of value, momentum, quality, low volatility and size. The companies eligible for the Underlying Index are derived from its starting universe, the FTSE Developed ex US Index, which is comprised of large- and mid-capitalization equity securities from developed markets (except the United States). It is not possible to invest directly into an index.
Ten Largest Equity Holdings as of February 28, 2021 (6.3% of Net Assets) |
Description | % of Net Assets | |||
Kinnevik AB (Sweden) | 1.2% | |||
Industrivarden AB (Sweden) | 1.0% | |||
Rio Tinto Ltd. (Australia) | 0.6% | |||
Investor AB (Sweden) | 0.6% | |||
Magna International, Inc. (Canada) | 0.6% | |||
Sekisui House Ltd. (Japan) | 0.5% | |||
Swedish Match AB (Sweden) | 0.5% | |||
Aeon Co. Ltd. (Japan) | 0.5% | |||
Segro PLC (United Kingdom) | 0.4% | |||
Logitech International SA (Switzerland) | 0.4% |
Country Diversification* as of February 28, 2021 |
Japan | 31.5% | |||
United Kingdom | 9.1% | |||
Sweden | 8.4% | |||
Australia | 7.8% | |||
Switzerland | 4.6% | |||
Canada | 4.4% | |||
South Korea | 4.1% | |||
Germany | 3.8% | |||
Hong Kong | 3.7% | |||
France | 3.4% | |||
Singapore | 3.1% | |||
Finland | 2.3% | |||
Netherlands | 2.3% | |||
Other | 11.5% | |||
|
| |||
Total | 100.0% |
Sector Diversification* as of February 28, 2021 |
Industrials | 23.1% | |||
Materials | 13.7% | |||
Consumer Discretionary | 11.4% | |||
Consumer Staples | 11.1% | |||
Financials | 9.2% | |||
Real Estate | 7.3% | |||
Utilities | 6.5% | |||
Information Technology | 6.3% | |||
Communication Services | 5.2% | |||
Health Care | 5.0% | |||
Energy | 1.2% | |||
|
| |||
Total | 100.0% |
* As a percent of total investments excluding securities lending collateral and cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 7.
2
DBX ETF Trust
Portfolio Summary (Unaudited)
Xtrackers MSCI Kokusai Equity ETF (KOKU)
Xtrackers MSCI Kokusai Equity ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the MSCI Kokusai Index (the “Underlying Index”). The MSCI Kokusai Index is also known as the MSCI World ex Japan Index. The Underlying Index is designed to track the performance of equity markets in developed markets (excluding Japan). The MSCI World Index is a free float-adjusted market capitalization index that is designed to measure developed-market equity performance throughout the world. It is not possible to invest directly into an index.
Ten Largest Equity Holdings as of February 28, 2021 (18.7% of Net Assets) |
Description | % of Net Assets | |||
Apple, Inc. (United States) | 4.3% | |||
Microsoft Corp. (United States) | 3.5% | |||
Amazon.com, Inc. (United States) | 2.7% | |||
Alphabet, Inc. (United States) | 2.5% | |||
Facebook, Inc. (United States) | 1.3% | |||
Tesla, Inc. (United States) | 1.1% | |||
JPMorgan Chase & Co. (United States) | 0.9% | |||
Johnson & Johnson (United States) | 0.9% | |||
Visa, Inc. (United States) | 0.8% | |||
Walt Disney Co. (United States) | 0.7% |
Country Diversification* as of February 28, 2021 |
United States | 69.6% | |||
United Kingdom | 4.6% | |||
France | 3.6% | |||
Canada | 3.5% | |||
Switzerland | 3.5% | |||
Germany | 3.1% | |||
Australia | 2.5% | |||
Other | 9.6% | |||
|
| |||
Total | 100.0% |
Sector Diversification* as of February 28, 2021 |
Information Technology | 22.6% | |||
Financials | 13.9% | |||
Health Care | 12.7% | |||
Consumer Discretionary | 11.5% | |||
Industrials | 9.7% | |||
Communication Services | 9.1% | |||
Consumer Staples | 7.0% | |||
Materials | 4.5% | |||
Energy | 3.4% | |||
Utilities | 3.0% | |||
Real Estate | 2.6% | |||
|
| |||
Total | 100.0% |
* As a percent of total investments excluding securities lending collateral and cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 21.
3
DBX ETF Trust
Portfolio Summary (Unaudited)
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (QARP)
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the Russell 1000 2Qual/Val 5% Capped Factor Index (the “Underlying Index”). The Underlying Index is designed to track the equity market performance of companies in the United States selected on the investment style criteria (“factors”) of quality and value. The companies eligible for the Underlying Index are derived from its starting universe, the Russell 1000 Index, which is comprised of large-cap equity securities from issuers in the United States. It is not possible to invest directly into an index.
Ten Largest Equity Holdings as of February 28, 2021 (31.8% of Net Assets) |
Description | % of Net Assets | |||
Alphabet, Inc. | 5.7% | |||
Apple, Inc. | 5.7% | |||
Berkshire Hathaway, Inc. | 4.1% | |||
Facebook, Inc. | 3.3% | |||
Intel Corp. | 3.1% | |||
Johnson & Johnson | 2.6% | |||
Visa, Inc. | 2.1% | |||
Chevron Corp. | 1.8% | |||
Mastercard, Inc. | 1.7% | |||
Exxon Mobil Corp. | 1.7% |
Sector Diversification* as of February 28, 2021 |
Information Technology | 27.8% | |||
Health Care | 15.5% | |||
Communication Services | 12.4% | |||
Consumer Discretionary | 10.7% | |||
Industrials | 9.8% | |||
Financials | 7.8% | |||
Energy | 6.2% | |||
Consumer Staples | 5.5% | |||
Materials | 2.2% | |||
Real Estate | 1.5% | |||
Utilities | 0.6% | |||
|
| |||
Total | 100.0% |
* As a percent of total investments excluding securities lending collateral and cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 35.
4
DBX ETF Trust
Portfolio Summary (Unaudited)
Xtrackers Russell US Multifactor ETF (DEUS)
Xtrackers Russell US Multifactor ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the Russell 1000 Comprehensive Factor Index (the “Underlying Index”). The Underlying Index is designed to track the equity market performance of companies in the United States selected on the investment style criteria (“factors”) of value, momentum, quality, low volatility and size. The companies eligible for the Underlying Index are derived from its starting universe, the Russell 1000 Index, which is comprised of large-cap equity securities from issuers in the United States. It is not possible to invest directly into an index.
Ten Largest Equity Holdings as of February 28, 2021 (6.5% of Net Assets) |
Description | % of Net Assets | |||
Progressive Corp. | 0.9% | |||
McKesson Corp. | 0.8% | |||
Cummins, Inc. | 0.8% | |||
eBay, Inc. | 0.6% | |||
Bio-Rad Laboratories, Inc. | 0.6% | |||
HP, Inc. | 0.6% | |||
Cadence Design Systems, Inc. | 0.6% | |||
Cognizant Technology Solutions Corp. | 0.6% | |||
IAC/InterActiveCorp | 0.5% | |||
Humana, Inc. | 0.5% |
Sector Diversification* as of February 28, 2021 |
Information Technology | 19.2% | |||
Industrials | 19.0% | |||
Health Care | 14.0% | |||
Financials | 11.7% | |||
Consumer Discretionary | 10.1% | |||
Materials | 6.7% | |||
Consumer Staples | 5.6% | |||
Utilities | 4.8% | |||
Communication Services | 4.1% | |||
Real Estate | 3.9% | |||
Energy | 0.9% | |||
|
| |||
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.
5
DBX ETF Trust
As a shareholder of one or more of the Funds, you incur two types of costs: (1) transaction costs, including brokerage commissions paid on purchases and sales of fund shares, and (2) ongoing costs, including management fees and other Fund expenses. In the most recent six-month period the Funds limited these expenses; had they not done so, expenses would have been higher. The expense examples below are intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with the ongoing costs of investing in other funds.
The examples in the tables are based on an investment of $1,000 invested at the beginning of the period and held for the entire period (September 1, 2020 to February 28, 2021).
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, 2020 | Ending Account Value February 28, 2021 | Annualized Expense Ratio | Expenses Paid During the Period Per $1,000(1) | |||||||||||||
Xtrackers FTSE Developed ex US Multifactor ETF |
| |||||||||||||||
Actual | $ | 1,000.00 | $ | 1,100.70 | 0.24 | % | $ | 1.25 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,023.60 | 0.24 | % | $ | 1.20 | ||||||||
Xtrackers MSCI Kokusai Equity ETF |
| |||||||||||||||
Actual | $ | 1,000.00 | $ | 1,114.50 | 0.09 | % | $ | 0.47 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,024.35 | 0.09 | % | $ | 0.45 | ||||||||
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF |
| |||||||||||||||
Actual | $ | 1,000.00 | $ | 1,128.30 | 0.19 | % | $ | 1.00 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,023.85 | 0.19 | % | $ | 0.95 | ||||||||
Xtrackers Russell US Multifactor ETF |
| |||||||||||||||
Actual | $ | 1,000.00 | $ | 1,145.60 | 0.17 | % | $ | 0.90 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,023.95 | 0.17 | % | $ | 0.85 |
(1) Expenses are equal to each Fund’s annualized expense ratio, multiplied by the average account value over the period, multiplied by 181 (the number of days in the most recent six-month period), then divided by 365.
6
DBX ETF Trust
Xtrackers FTSE Developed ex US Multifactor ETF
February 28, 2021 (Unaudited)
Number | Value | |||||||
COMMON STOCKS — 99.0% | ||||||||
Australia — 7.7% | ||||||||
Adbri Ltd. | 4,894 | $ | 12,314 | |||||
AGL Energy Ltd. | 27,475 | 199,311 | ||||||
ALS Ltd. | 2,585 | 19,773 | ||||||
Altium Ltd. | 408 | 8,295 | ||||||
Alumina Ltd. | 25,265 | 31,687 | ||||||
Ampol Ltd. | 6,928 | 131,839 | ||||||
Ansell Ltd. | 8,379 | 233,987 | ||||||
APA Group (a) | 11,781 | 84,733 | ||||||
Aristocrat Leisure Ltd. | 3,671 | 86,286 | ||||||
ASX Ltd. | 2,055 | 107,550 | ||||||
Atlas Arteria Ltd. (a) | 3,078 | 13,226 | ||||||
Aurizon Holdings Ltd. | 36,240 | 106,897 | ||||||
AusNet Services | 42,037 | 53,862 | ||||||
Australia & New Zealand Banking Group Ltd. | 454 | 9,198 | ||||||
Bank of Queensland Ltd. | 1,608 | 10,943 | ||||||
Bendigo & Adelaide Bank Ltd. | 1,794 | 13,570 | ||||||
BHP Group Ltd. | 2,699 | 102,660 | ||||||
BHP Group PLC | 3,399 | 107,850 | ||||||
BlueScope Steel Ltd. | 3,544 | 45,766 | ||||||
Brambles Ltd. | 31,288 | 239,809 | ||||||
carsales.com Ltd. | 6,045 | 87,423 | ||||||
Charter Hall Group REIT | 15,554 | 142,817 | ||||||
Cleanaway Waste Management Ltd. | 18,468 | 31,169 | ||||||
Coca-Cola Amatil Ltd. | 10,295 | 106,724 | ||||||
Coles Group Ltd. | 13,334 | 158,254 | ||||||
Commonwealth Bank of Australia | 397 | 25,068 | ||||||
Computershare Ltd. | 10,270 | 105,510 | ||||||
Crown Resorts Ltd. | 1,844 | 14,205 | ||||||
CSL Ltd. | 261 | 53,061 | ||||||
CSR Ltd. | 15,299 | 64,789 | ||||||
Deterra Royalties Ltd.* | 2,801 | 9,867 | ||||||
Dexus REIT | 16,533 | 113,919 | ||||||
Domino’s Pizza Enterprises Ltd. | 707 | 49,235 | ||||||
Evolution Mining Ltd. | 4,253 | 13,829 | ||||||
Fortescue Metals Group Ltd. | 1,752 | 32,703 | ||||||
Goodman Group REIT | 20,438 | 262,031 | ||||||
GPT Group REIT | 23,107 | 76,388 | ||||||
Harvey Norman Holdings Ltd. | 25,573 | 103,745 | ||||||
IDP Education Ltd. | 358 | 7,555 | ||||||
Iluka Resources Ltd. | 2,801 | 16,091 | ||||||
Incitec Pivot Ltd.* | 1,656 | 3,410 | ||||||
Insurance Australia Group Ltd. | 6,241 | 24,111 | ||||||
JB Hi-Fi Ltd. | 7,085 | 238,113 | ||||||
Macquarie Group Ltd. | 602 | 66,405 | ||||||
Magellan Financial Group Ltd. | 1,795 | 60,368 | ||||||
Medibank Pvt Ltd. | 73,342 | 157,284 | ||||||
Metcash Ltd. | 1,997 | 5,210 | ||||||
Mineral Resources Ltd. | 1,864 | 54,723 | ||||||
Mirvac Group REIT | 28,384 | 49,004 | ||||||
National Australia Bank Ltd. | 752 | 14,345 | ||||||
Newcrest Mining Ltd. | 2,946 | 56,199 | ||||||
Orica Ltd. | 4,565 | 44,390 | ||||||
Origin Energy Ltd. | 1,973 | 6,874 | ||||||
Orora Ltd. | 36,173 | 81,775 | ||||||
OZ Minerals Ltd. | 5,302 | 91,907 |
Number | Value | |||||||
Australia (Continued) | ||||||||
Perpetual Ltd. | 1,496 | $ | 35,511 | |||||
Platinum Asset Management Ltd. | 3,898 | 13,973 | ||||||
QBE Insurance Group Ltd. | 7,958 | 57,236 | ||||||
Qube Holdings Ltd. | 8,393 | 19,948 | ||||||
Ramsay Health Care Ltd. | 520 | 26,571 | ||||||
REA Group Ltd. | 503 | 53,273 | ||||||
Rio Tinto Ltd. | 4,774 | 470,098 | ||||||
Scentre Group REIT | 11,377 | 25,367 | ||||||
SEEK Ltd. | 2,410 | 47,952 | ||||||
Shopping Centres Australasia Property Group REIT | 14,322 | 25,946 | ||||||
Sonic Healthcare Ltd. | 9,436 | 231,799 | ||||||
South32 Ltd. | 16,394 | 35,157 | ||||||
Stockland REIT | 2,005 | 6,473 | ||||||
Suncorp Group Ltd. | 3,833 | 29,497 | ||||||
Sydney Airport*(a) | 4,558 | 20,679 | ||||||
Tabcorp Holdings Ltd. | 4,365 | 15,038 | ||||||
Telstra Corp. Ltd. | 17,189 | 40,988 | ||||||
TPG Telecom Ltd.* | 179 | 942 | ||||||
Transurban Group (a) | 3,420 | 33,891 | ||||||
Treasury Wine Estates Ltd. | 1,184 | 9,992 | ||||||
Washington H Soul Pattinson & Co. Ltd. (b) | 2,714 | 62,783 | ||||||
Wesfarmers Ltd. | 5,563 | 212,071 | ||||||
Westpac Banking Corp. | 782 | 14,421 | ||||||
Woodside Petroleum Ltd. | 3,975 | 75,613 | ||||||
Woolworths Group Ltd. | 2,469 | 75,313 | ||||||
|
| |||||||
(Cost $4,763,517) | 5,688,589 | |||||||
|
| |||||||
Austria — 0.2% | ||||||||
ANDRITZ AG | 1,852 | 89,289 | ||||||
Telekom Austria AG | 3,903 | 29,799 | ||||||
Verbund AG | 104 | 7,978 | ||||||
voestalpine AG | 985 | 39,263 | ||||||
|
| |||||||
(Cost $111,639) | 166,329 | |||||||
|
| |||||||
Belgium — 1.2% | ||||||||
Ackermans & van Haaren NV | 242 | 39,244 | ||||||
Ageas SA/NV | 217 | 12,237 | ||||||
Elia Group SA/NV | 348 | 37,847 | ||||||
Etablissements Franz Colruyt NV | 2,181 | 131,412 | ||||||
Groupe Bruxelles Lambert SA | 281 | 28,023 | ||||||
KBC Group NV* | 109 | 7,888 | ||||||
Proximus SADP | 2,200 | 43,260 | ||||||
Sofina SA | 756 | 251,890 | ||||||
Solvay SA | 406 | 49,823 | ||||||
Telenet Group Holding NV | 643 | 25,787 | ||||||
UCB SA | 793 | 79,352 | ||||||
Umicore SA | 3,042 | 179,671 | ||||||
|
| |||||||
(Cost $744,890) | 886,434 | |||||||
|
| |||||||
Cambodia — 0.0% | ||||||||
NagaCorp Ltd. | 12,155 | 16,108 | ||||||
|
| |||||||
Canada — 4.4% | ||||||||
Agnico Eagle Mines Ltd. | 442 | 24,802 | ||||||
Alimentation Couche-Tard, Inc., Class B | 6,405 | 193,516 |
See Notes to Financial Statements. | 7 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Canada (Continued) | ||||||||
Bank of Montreal | 261 | $ | 21,437 | |||||
Barrick Gold Corp. | 346 | 6,491 | ||||||
BCE, Inc. | 996 | 42,822 | ||||||
Brookfield Asset Management, Inc., Class A | 373 | 15,144 | ||||||
Canadian Imperial Bank of Commerce | 259 | 24,003 | ||||||
Canadian National Railway Co. | 768 | 84,268 | ||||||
Canadian Pacific Railway Ltd. | 480 | 171,951 | ||||||
Canadian Tire Corp. Ltd., Class A | 714 | 92,741 | ||||||
Canadian Utilities Ltd., Class A (b) | 2,902 | 69,043 | ||||||
CGI, Inc.* | 1,273 | 95,525 | ||||||
Constellation Software, Inc. | 81 | 105,423 | ||||||
Dollarama, Inc. | 1,690 | 64,650 | ||||||
Enbridge, Inc. | 1,329 | 45,119 | ||||||
Fairfax Financial Holdings Ltd. | 256 | 104,829 | ||||||
Fortis, Inc. | 3,711 | 143,633 | ||||||
Franco-Nevada Corp. | 724 | 77,924 | ||||||
George Weston Ltd. | 1,428 | 105,431 | ||||||
Great-West Lifeco, Inc. | 357 | 9,184 | ||||||
Hydro One Ltd., 144A | 5,884 | 125,581 | ||||||
IGM Financial, Inc. | 1,771 | 48,570 | ||||||
Imperial Oil Ltd. (b) | 383 | 8,437 | ||||||
Intact Financial Corp. | 670 | 75,277 | ||||||
Loblaw Cos. Ltd. | 1,126 | 54,548 | ||||||
Magna International, Inc. | 4,875 | 412,758 | ||||||
Manulife Financial Corp. | 1,072 | 21,482 | ||||||
Metro, Inc. | 7,015 | 293,123 | ||||||
National Bank of Canada | 688 | 43,562 | ||||||
Nutrien Ltd. | 1,078 | 58,490 | ||||||
Power Corp. of Canada | 1,126 | 27,287 | ||||||
Restaurant Brands International, Inc. | 127 | 7,657 | ||||||
Rogers Communications, Inc., Class B | 2,307 | 100,462 | ||||||
Royal Bank of Canada | 94 | 8,046 | ||||||
Saputo, Inc. | 485 | 13,730 | ||||||
Shaw Communications, Inc., Class B | 9,763 | 170,814 | ||||||
Sun Life Financial, Inc. (b) | 874 | 42,278 | ||||||
Suncor Energy, Inc. | 596 | 11,896 | ||||||
TC Energy Corp. | 1,346 | 56,668 | ||||||
TELUS Corp. | 2,753 | 55,451 | ||||||
Thomson Reuters Corp. | 619 | 54,126 | ||||||
Toronto-Dominion Bank | 190 | 11,577 | ||||||
Wheaton Precious Metals Corp. | 609 | 21,897 | ||||||
|
| |||||||
(Cost $2,685,993) | 3,221,653 | |||||||
|
| |||||||
Chile — 0.1% | ||||||||
Antofagasta PLC | 2,211 | 55,101 | ||||||
|
| |||||||
China — 0.3% | ||||||||
Lenovo Group Ltd. | 65,672 | 83,049 | ||||||
Tingyi Cayman Islands Holding Corp. | 19,719 | 39,604 | ||||||
Uni-President China Holdings Ltd. | 14,216 | 17,080 | ||||||
Want Want China Holdings Ltd. | 101,156 | 73,024 | ||||||
|
| |||||||
(Cost $164,527) | 212,757 | |||||||
|
| |||||||
Cyprus — 0.1% | ||||||||
Polymetal International PLC | 2,969 | 59,006 | ||||||
|
|
Number | Value | |||||||
Czech Republic — 0.0% | ||||||||
Avast PLC, 144A | 721 | $ | 4,657 | |||||
|
| |||||||
Denmark — 1.7% | ||||||||
A.P. Moller — Maersk A/S, Class A | 26 | 52,499 | ||||||
A.P. Moller — Maersk A/S, Class B | 20 | 43,224 | ||||||
Carlsberg A/S, Class B | 1,037 | 164,193 | ||||||
Chr Hansen Holding A/S* | 1,067 | 92,100 | ||||||
Coloplast A/S, Class B | 699 | 107,116 | ||||||
Danske Bank A/S* | 938 | 17,409 | ||||||
Demant A/S* | 601 | 24,908 | ||||||
DSV PANALPINA A/S | 23 | 4,250 | ||||||
Genmab A/S* | 104 | 35,141 | ||||||
GN Store Nord AS | 1,632 | 137,992 | ||||||
ISS A/S* | 718 | 13,009 | ||||||
Novo Nordisk A/S, Class B | 615 | 43,965 | ||||||
Novozymes A/S, Class B* | 3,212 | 199,654 | ||||||
Orsted AS, 144A | 205 | 33,396 | ||||||
Pandora A/S | 420 | 41,107 | ||||||
ROCKWOOL International A/S, Class B | 117 | 42,665 | ||||||
Tryg A/S | 1,607 | 50,889 | ||||||
Vestas Wind Systems A/S | 907 | 170,925 | ||||||
|
| |||||||
(Cost $899,841) | 1,274,442 | |||||||
|
| |||||||
Finland — 2.3% | ||||||||
Elisa OYJ | 3,088 | 184,974 | ||||||
Fortum OYJ | 2,983 | 74,914 | ||||||
Huhtamaki OYJ | 1,881 | 85,116 | ||||||
Kesko OYJ, Class B | 5,153 | 131,599 | ||||||
Kojamo OYJ | 14,478 | 279,066 | ||||||
Kone OYJ, Class B* | 2,237 | 179,425 | ||||||
Neles OYJ | 1,625 | 20,198 | ||||||
Neste OYJ | 619 | 40,918 | ||||||
Nokian Renkaat OYJ | 3,946 | 140,433 | ||||||
Orion OYJ, Class B | 2,979 | 122,833 | ||||||
Sampo OYJ, Class A | 725 | 32,446 | ||||||
Stora Enso OYJ, Class R | 3,772 | 74,743 | ||||||
UPM-Kymmene OYJ | 7,454 | 285,906 | ||||||
Wartsila OYJ Abp | 1,706 | 19,676 | ||||||
|
| |||||||
(Cost $1,376,321) | 1,672,247 | |||||||
|
| |||||||
France — 3.4% | ||||||||
Accor SA* | 78 | 3,272 | ||||||
Air Liquide SA (b) | 216 | 32,694 | ||||||
Alstom SA* | 1,986 | 99,655 | ||||||
Amundi SA, 144A* | 247 | 18,888 | ||||||
Arkema SA | 622 | 69,081 | ||||||
Atos SE* | 961 | 75,377 | ||||||
BioMerieux | 242 | 30,901 | ||||||
Bollore SA | 9,475 | 45,612 | ||||||
Bouygues SA | 2,049 | 83,466 | ||||||
Bureau Veritas SA* | 1,887 | 51,283 | ||||||
Capgemini SE | 468 | 75,637 | ||||||
Carrefour SA | 2,747 | 48,164 | ||||||
Cie de Saint-Gobain* | 1,483 | 79,959 | ||||||
Cie Generale des Etablissements Michelin SCA | 1,534 | 222,971 | ||||||
Cie Plastic Omnium SA | 243 | 8,766 | ||||||
Danone SA | 286 | 19,600 |
See Notes to Financial Statements. | 8 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
France (Continued) | ||||||||
Dassault Aviation SA* | 3 | $ | 3,252 | |||||
Dassault Systemes SE | 30 | 6,260 | ||||||
Edenred | 524 | 29,187 | ||||||
Eiffage SA* | 752 | 77,732 | ||||||
Electricite de France SA* | 125 | 1,503 | ||||||
Engie SA* | 3,888 | 57,032 | ||||||
EssilorLuxottica SA | 117 | 19,172 | ||||||
Gecina SA REIT | 687 | 95,646 | ||||||
Getlink SE* | 1,366 | 22,500 | ||||||
Hermes International | 6 | 6,723 | ||||||
ICADE REIT (b) | 72 | 5,349 | ||||||
Iliad SA | 314 | 55,874 | ||||||
Imerys SA | 298 | 15,460 | ||||||
Ipsen SA | 93 | 7,975 | ||||||
JCDecaux SA* | 356 | 8,474 | ||||||
Kering SA | 16 | 10,194 | ||||||
La Francaise des Jeux SAEM, 144A | 337 | 15,294 | ||||||
Legrand SA | 1,559 | 136,095 | ||||||
L’Oreal SA | 39 | 14,334 | ||||||
Orange SA | 6,013 | 69,687 | ||||||
Orpea SA* | 266 | 32,119 | ||||||
Pernod Ricard SA | 66 | 12,605 | ||||||
Publicis Groupe SA | 845 | 49,786 | ||||||
Remy Cointreau SA | 109 | 20,904 | ||||||
Rexel SA* | 1,240 | 23,420 | ||||||
Rubis SCA | 677 | 31,193 | ||||||
Sanofi | 196 | 18,033 | ||||||
Sartorius Stedim Biotech | 47 | 20,652 | ||||||
Schneider Electric SE | 657 | 97,969 | ||||||
SEB SA | 320 | 57,758 | ||||||
Sodexo SA* | 202 | 19,424 | ||||||
Suez SA | 3,410 | 71,399 | ||||||
Teleperformance | 327 | 116,335 | ||||||
Thales SA | 154 | 14,662 | ||||||
TOTAL SE (b) | 27 | 1,258 | ||||||
Veolia Environnement SA | 6,224 | 168,847 | ||||||
Vinci SA | 299 | 31,226 | ||||||
Vivendi SE | 1,756 | 60,895 | ||||||
Wendel SE | 172 | 19,771 | ||||||
Worldline SA, 144A* | 231 | 20,693 | ||||||
|
| |||||||
(Cost $2,013,495) | 2,512,018 | |||||||
|
| |||||||
Germany — 3.4% | ||||||||
adidas AG* | 49 | 17,183 | ||||||
Allianz SE | 17 | 4,123 | ||||||
BASF SE | 1,236 | 101,612 | ||||||
Bayer AG | 516 | 31,391 | ||||||
Bayerische Motoren Werke AG | 347 | 30,115 | ||||||
Bechtle AG | 452 | 85,752 | ||||||
Beiersdorf AG | 364 | 36,185 | ||||||
Brenntag SE | 2,225 | 173,547 | ||||||
Carl Zeiss Meditec AG | 157 | 23,687 | ||||||
Continental AG | 110 | 15,875 | ||||||
Covestro AG, 144A | 1,272 | 92,576 | ||||||
CTS Eventim AG & Co. KGaA* | 102 | 6,983 | ||||||
Daimler AG | 290 | 23,320 | ||||||
Delivery Hero SE, 144A* | 98 | 12,573 |
Number | Value | |||||||
Germany (Continued) | ||||||||
Deutsche Boerse AG | 51 | $ | 8,391 | |||||
Deutsche Lufthansa AG* | 760 | 11,333 | ||||||
Deutsche Post AG | 2,329 | 116,074 | ||||||
Deutsche Telekom AG | 2,873 | 52,413 | ||||||
Deutsche Wohnen SE | 5,037 | 238,137 | ||||||
E.ON SE | 3,330 | 34,155 | ||||||
Evonik Industries AG | 1,916 | 64,862 | ||||||
Fielmann AG* | 308 | 24,412 | ||||||
Fresenius Medical Care AG & Co. KGaA | 551 | 38,363 | ||||||
Fresenius SE & Co. KGaA | 676 | 29,080 | ||||||
FUCHS PETROLUB SE | 648 | 28,237 | ||||||
GEA Group AG | 1,310 | 45,508 | ||||||
Hannover Rueck SE | 121 | 20,606 | ||||||
HeidelbergCement AG | 793 | 63,027 | ||||||
Hella GmbH & Co. KGaA* | 98 | 5,831 | ||||||
Henkel AG & Co. KGaA | 235 | 20,937 | ||||||
HOCHTIEF AG | 111 | 9,950 | ||||||
Infineon Technologies AG | 568 | 24,820 | ||||||
KION Group AG | 602 | 51,106 | ||||||
Knorr-Bremse AG | 364 | 46,630 | ||||||
LANXESS AG | 418 | 31,112 | ||||||
LEG Immobilien AG | 1,771 | 243,210 | ||||||
Merck KGaA | 400 | 65,327 | ||||||
MTU Aero Engines AG | 64 | 15,304 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 83 | 24,481 | ||||||
Nemetschek SE | 90 | 5,697 | ||||||
ProSiebenSat.1 Media SE*(b) | 1,214 | 25,021 | ||||||
Puma SE* | 127 | 13,562 | ||||||
Rational AG (b) | 14 | 12,048 | ||||||
Rheinmetall AG | 211 | 21,160 | ||||||
RWE AG | 1,504 | 57,213 | ||||||
SAP SE | 1 | 124 | ||||||
Scout24 AG, 144A | 600 | 45,481 | ||||||
Siemens AG | 180 | 27,962 | ||||||
Siemens Energy AG* | 90 | 3,414 | ||||||
Siemens Healthineers AG, 144A | 321 | 17,857 | ||||||
Suedzucker AG | 511 | 8,082 | ||||||
Symrise AG | 362 | 42,498 | ||||||
TeamViewer AG, 144A* | 310 | 16,744 | ||||||
Telefonica Deutschland Holding AG | 11,488 | 30,817 | ||||||
Traton SE | 985 | 27,558 | ||||||
Uniper SE | 3,097 | 109,015 | ||||||
United Internet AG | 1,537 | 68,058 | ||||||
Vonovia SE | 307 | 19,653 | ||||||
Zalando SE, 144A* | 114 | 11,765 | ||||||
|
| |||||||
(Cost $2,016,142) | 2,531,957 | |||||||
|
| |||||||
Hong Kong — 3.7% | ||||||||
AIA Group Ltd. | 2,690 | 33,654 | ||||||
ASM Pacific Technology Ltd. | 1,090 | 15,161 | ||||||
Bank of East Asia Ltd. | 9,990 | 23,593 | ||||||
BOC Hong Kong Holdings Ltd. | 8,164 | 27,152 | ||||||
Budweiser Brewing Co. APAC Ltd., 144A | 3,170 | 9,685 | ||||||
Cafe de Coral Holdings Ltd. | 5,864 | 13,002 | ||||||
Cathay Pacific Airways Ltd.* | 8,338 | 7,739 | ||||||
China Travel International Investment Hong Kong Ltd.* | 69,162 | 12,036 |
See Notes to Financial Statements. | 9 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Hong Kong (Continued) | ||||||||
Chow Tai Fook Jewellery Group Ltd. | 12,910 | $ | 17,741 | |||||
CK Asset Holdings Ltd. | 28,194 | 165,551 | ||||||
CK Hutchison Holdings Ltd. | 17,251 | 130,316 | ||||||
CK Infrastructure Holdings Ltd. | 4,594 | 26,620 | ||||||
CLP Holdings Ltd. | 8,140 | 79,382 | ||||||
Dairy Farm International Holdings Ltd. | 2,065 | 8,941 | ||||||
ESR Cayman Ltd., 144A* | 6,916 | 21,887 | ||||||
First Pacific Co. Ltd. | 9,585 | 3,138 | ||||||
Galaxy Entertainment Group Ltd. | 2,882 | 26,341 | ||||||
Hang Lung Group Ltd. | 51,955 | 129,932 | ||||||
Hang Lung Properties Ltd. | 25,395 | 65,801 | ||||||
Hang Seng Bank Ltd. | 953 | 18,428 | ||||||
Henderson Land Development Co. Ltd. | 7,981 | 34,672 | ||||||
Hong Kong & China Gas Co. Ltd. | 18,619 | 28,082 | ||||||
Hong Kong Exchanges & Clearing Ltd. | 1,107 | 67,527 | ||||||
Hongkong Land Holdings Ltd. | 1,544 | 7,442 | ||||||
Hutchison Port Holdings Trust, Class U | 67,400 | 16,176 | ||||||
Hutchison Telecommunications Hong Kong Holdings Ltd. | 126,798 | 21,903 | ||||||
Hysan Development Co. Ltd. | 31,368 | 133,643 | ||||||
Jardine Matheson Holdings Ltd. | 600 | 31,392 | ||||||
Jardine Strategic Holdings Ltd. | 300 | 7,764 | ||||||
Johnson Electric Holdings Ltd. | 3,757 | 10,849 | ||||||
Kerry Logistics Network Ltd. | 39,977 | 116,468 | ||||||
Kerry Properties Ltd. | 26,165 | 84,155 | ||||||
Lee & Man Paper Manufacturing Ltd. | 52,832 | 48,968 | ||||||
Lifestyle International Holdings Ltd.* | 12,488 | 11,156 | ||||||
Man Wah Holdings Ltd. | 7,300 | 15,998 | ||||||
MTR Corp. Ltd. | 3,998 | 23,991 | ||||||
New World Development Co. Ltd. | 29,376 | 149,392 | ||||||
NWS Holdings Ltd. | 10,608 | 11,993 | ||||||
PCCW Ltd. | 161,692 | 92,754 | ||||||
Power Assets Holdings Ltd. | 19,094 | 106,087 | ||||||
Shangri-La Asia Ltd.* | 13,448 | 13,765 | ||||||
Shun Tak Holdings Ltd. | 80,256 | 27,209 | ||||||
Sino Land Co. Ltd. | 16,086 | 24,345 | ||||||
SITC International Holdings Co. Ltd. | 63,993 | 168,286 | ||||||
SJM Holdings Ltd. | 21,132 | 29,420 | ||||||
Sun Hung Kai Properties Ltd. | 6,951 | 111,648 | ||||||
Swire Pacific Ltd., Class A | 3,365 | 24,660 | ||||||
Swire Pacific Ltd., Class B | 8,510 | 9,873 | ||||||
Swire Properties Ltd. | 6,564 | 21,112 | ||||||
Techtronic Industries Co. Ltd. | 4,391 | 67,019 | ||||||
Vinda International Holdings Ltd. (b) | 6,724 | 20,066 | ||||||
Vitasoy International Holdings Ltd. (b) | 7,178 | 31,646 | ||||||
VTech Holdings Ltd. | 4,778 | 40,066 | ||||||
WH Group Ltd., 144A | 74,099 | 66,483 | ||||||
Wharf Holdings Ltd. | 9,162 | 21,614 | ||||||
Wharf Real Estate Investment Co. Ltd. | 942 | 5,628 | ||||||
Xinyi Glass Holdings Ltd. | 57,054 | 159,600 | ||||||
Yue Yuen Industrial Holdings Ltd. | 7,006 | 14,938 | ||||||
|
| |||||||
(Cost $2,356,220) | 2,713,890 | |||||||
|
| |||||||
Ireland — 1.1% | ||||||||
CRH PLC | 3,032 | 131,198 | ||||||
DCC PLC | 945 | 76,234 | ||||||
Experian PLC | 2,128 | 67,625 |
Number | Value | |||||||
Ireland (Continued) | ||||||||
Flutter Entertainment PLC* | 142 | $ | 27,437 | |||||
Glanbia PLC | 4,539 | 59,226 | ||||||
James Hardie Industries PLC CDI | 5,125 | 144,864 | ||||||
Kerry Group PLC, Class A | 464 | 56,292 | ||||||
Kingspan Group PLC* | 789 | 57,701 | ||||||
Smurfit Kappa Group PLC | 3,638 | 172,730 | ||||||
|
| |||||||
(Cost $576,284) | 793,307 | |||||||
|
| |||||||
Israel — 1.1% | ||||||||
Airport City Ltd.* | 1,859 | 25,477 | ||||||
Alony Hetz Properties & Investments Ltd. | 2,461 | 29,582 | ||||||
Amot Investments Ltd. | 4,754 | 25,114 | ||||||
Azrieli Group Ltd. | 402 | 24,464 | ||||||
Bank Hapoalim BM* | 2,740 | 19,437 | ||||||
Bank Leumi Le-Israel BM | 6,398 | 39,110 | ||||||
Bezeq The Israeli Telecommunication Corp. Ltd.* | 37,659 | 36,503 | ||||||
Elbit Systems Ltd. | 244 | 31,724 | ||||||
Electra Ltd. | 110 | 57,512 | ||||||
Energix-Renewable Energies Ltd. | 2,920 | 10,225 | ||||||
First International Bank of Israel Ltd. | 499 | 13,096 | ||||||
ICL Group Ltd. | 14,816 | 85,961 | ||||||
Israel Discount Bank Ltd., Class A | 5,809 | 21,586 | ||||||
Melisron Ltd. | 261 | 13,788 | ||||||
Mivne Real Estate KD Ltd. | 13,683 | 31,805 | ||||||
Mizrahi Tefahot Bank Ltd. | 991 | 23,741 | ||||||
Nice Ltd.* | 748 | 173,909 | ||||||
Paz Oil Co. Ltd. | 157 | 14,640 | ||||||
Shapir Engineering and Industry Ltd. | 2,098 | 14,471 | ||||||
Shufersal Ltd. | 2,557 | 20,540 | ||||||
Strauss Group Ltd. | 1,375 | 36,891 | ||||||
Tower Semiconductor Ltd.* | 1,861 | 56,740 | ||||||
|
| |||||||
(Cost $622,841) | 806,316 | |||||||
|
| |||||||
Italy — 1.6% | ||||||||
A2A SpA | 46,610 | 78,894 | ||||||
Amplifon SpA* | 402 | 16,102 | ||||||
Assicurazioni Generali SpA | 502 | 9,475 | ||||||
Atlantia SpA* | 1,010 | 19,033 | ||||||
Buzzi Unicem SpA | 2,147 | 54,596 | ||||||
Davide Campari-Milano NV | 2,158 | 24,565 | ||||||
DiaSorin SpA | 254 | 50,069 | ||||||
Enel SpA | 4,994 | 47,548 | ||||||
Eni SpA | 1,415 | 16,286 | ||||||
Ferrari NV | 769 | 150,746 | ||||||
Hera SpA | 17,722 | 63,543 | ||||||
Infrastrutture Wireless Italiane SpA, 144A | 1,548 | 16,187 | ||||||
Italgas SpA | 12,984 | 76,940 | ||||||
Moncler SpA* | 1,306 | 81,322 | ||||||
Pirelli & C SpA, 144A* | 1,167 | 6,764 | ||||||
Poste Italiane SpA, 144A | 409 | 4,669 | ||||||
Prysmian SpA | 6,358 | 205,976 | ||||||
Recordati Industria Chimica e Farmaceutica SpA | 605 | 30,945 | ||||||
Snam SpA | 14,046 | 73,243 | ||||||
Telecom Italia SpA | 61,097 | 29,137 | ||||||
Telecom Italia SpA-RSP | 21,028 | 11,338 | ||||||
Terna Rete Elettrica Nazionale SpA | 13,911 | 97,394 |
See Notes to Financial Statements. | 10 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Italy (Continued) | ||||||||
UnipolSai Assicurazioni SpA | 2,353 | $ | 6,866 | |||||
|
| |||||||
(Cost $1,001,306) | 1,171,638 | |||||||
|
| |||||||
Japan — 31.3% | ||||||||
ABC-Mart, Inc. (b) | 563 | 32,023 | ||||||
Acom Co. Ltd. | 3,700 | 16,496 | ||||||
Advance Residence Investment Corp. REIT | 4 | 12,146 | ||||||
Advantest Corp. | 100 | 8,213 | ||||||
Aeon Co. Ltd. | 10,949 | 329,169 | ||||||
Aeon Mall Co. Ltd. (b) | 1,800 | 30,276 | ||||||
AGC, Inc. | 2,300 | 84,194 | ||||||
Aica Kogyo Co. Ltd. | 2,514 | 86,954 | ||||||
Ain Holdings, Inc. | 900 | 58,035 | ||||||
Air Water, Inc. | 1,300 | 21,378 | ||||||
Aisin Seiki Co. Ltd. | 2,093 | 71,214 | ||||||
Ajinomoto Co., Inc. | 3,300 | 65,635 | ||||||
Alfresa Holdings Corp. | 5,670 | 109,313 | ||||||
Alps Alpine Co. Ltd. | 900 | 11,843 | ||||||
Amada Co. Ltd. | 4,743 | 57,473 | ||||||
Amano Corp. | 1,100 | 24,656 | ||||||
ANA Holdings, Inc.* | 743 | 17,811 | ||||||
Anritsu Corp. (b) | 900 | 19,201 | ||||||
Ariake Japan Co. Ltd. | 212 | 13,153 | ||||||
As One Corp. | 200 | 25,643 | ||||||
Asahi Group Holdings Ltd. | 792 | 34,285 | ||||||
Asahi Intecc Co. Ltd. | 616 | 17,664 | ||||||
Asahi Kasei Corp. | 3,919 | 42,155 | ||||||
ASKUL Corp. | 509 | 16,841 | ||||||
Astellas Pharma, Inc. | 2,283 | 35,871 | ||||||
Azbil Corp. | 5,413 | 229,903 | ||||||
Bandai Namco Holdings, Inc. | 1,200 | 91,763 | ||||||
Benesse Holdings, Inc. | 2,000 | 40,342 | ||||||
Bic Camera, Inc. (b) | 4,000 | 43,326 | ||||||
Bridgestone Corp. | 4,524 | 176,688 | ||||||
Brother Industries Ltd. | 1,942 | 38,151 | ||||||
Calbee, Inc. | 1,680 | 44,152 | ||||||
Canon Marketing Japan, Inc. | 1,200 | 26,232 | ||||||
Canon, Inc. | 2,722 | 58,571 | ||||||
Capcom Co. Ltd. | 454 | 27,613 | ||||||
Casio Computer Co. Ltd. | 1,398 | 26,926 | ||||||
Central Japan Railway Co. | 156 | 25,492 | ||||||
Chubu Electric Power Co., Inc. | 9,931 | 121,877 | ||||||
Chugai Pharmaceutical Co. Ltd. | 300 | 13,412 | ||||||
Chugoku Electric Power Co., Inc. | 11,983 | 142,955 | ||||||
COMSYS Holdings Corp. | 6,934 | 209,244 | ||||||
Concordia Financial Group Ltd. | 2,700 | 10,416 | ||||||
Cosmos Pharmaceutical Corp. | 490 | 70,138 | ||||||
CyberAgent, Inc. | 300 | 18,078 | ||||||
Dai Nippon Printing Co. Ltd. | 9,407 | 168,998 | ||||||
Daicel Corp. | 3,827 | 28,018 | ||||||
Daido Steel Co. Ltd. | 555 | 22,843 | ||||||
Daifuku Co. Ltd. | 226 | 21,595 | ||||||
Dai-ichi Life Holdings, Inc. | 400 | 7,017 | ||||||
Daiichi Sankyo Co. Ltd. | 900 | 25,427 | ||||||
Daiichikosho Co. Ltd. | 516 | 20,487 | ||||||
Daikin Industries Ltd. | 384 | 74,681 |
Number | Value | |||||||
Japan (Continued) | ||||||||
Daito Trust Construction Co. Ltd. | 1,285 | $ | 142,443 | |||||
Daiwa House Industry Co. Ltd. | 1,502 | 42,336 | ||||||
Daiwa House REIT Investment Corp. REIT (b) | 4 | 10,497 | ||||||
Daiwa Securities Group, Inc. | 2,945 | 14,308 | ||||||
Denka Co. Ltd. | 1,600 | 60,071 | ||||||
Denso Corp. | 1,144 | 68,593 | ||||||
DIC Corp. | 1,100 | 26,937 | ||||||
Disco Corp. | 111 | 34,798 | ||||||
Dowa Holdings Co. Ltd. | 600 | 23,625 | ||||||
East Japan Railway Co. | 547 | 40,340 | ||||||
Ebara Corp. | 1,400 | 52,431 | ||||||
Eisai Co. Ltd. | 300 | 20,609 | ||||||
Elecom Co. Ltd. | 300 | 13,220 | ||||||
Electric Power Development Co. Ltd. | 2,376 | 38,715 | ||||||
ENEOS Holdings, Inc. | 22,820 | 100,178 | ||||||
Ezaki Glico Co. Ltd. | 1,200 | 48,827 | ||||||
Fancl Corp. | 400 | 14,248 | ||||||
FANUC Corp. | 196 | 48,457 | ||||||
Fast Retailing Co. Ltd. | 11 | 10,841 | ||||||
FP Corp. | 1,400 | 54,336 | ||||||
Fuji Electric Co. Ltd. | 988 | 40,989 | ||||||
Fuji Media Holdings, Inc. | 800 | 9,672 | ||||||
Fuji Oil Holdings, Inc. | 1,700 | 47,183 | ||||||
Fuji Seal International, Inc. | 600 | 12,333 | ||||||
FUJIFILM Holdings Corp. | 1,151 | 65,577 | ||||||
Fujitsu General Ltd. | 1,300 | 35,142 | ||||||
Fujitsu Ltd. | 842 | 121,392 | ||||||
Fukuoka Financial Group, Inc. | 600 | 10,785 | ||||||
Fukuyama Transporting Co. Ltd. | 1,000 | 39,093 | ||||||
Furukawa Electric Co. Ltd. | 1,000 | 26,103 | ||||||
Glory Ltd. | 1,388 | 30,303 | ||||||
GLP J REIT | 8 | 12,960 | ||||||
GS Yuasa Corp. | 1,638 | 48,199 | ||||||
GungHo Online Entertainment, Inc. | 500 | 10,226 | ||||||
Gunma Bank Ltd. | 2,900 | 9,309 | ||||||
Hakuhodo DY Holdings, Inc. | 5,669 | 93,330 | ||||||
Hamamatsu Photonics KK | 2,350 | 138,300 | ||||||
Hankyu Hanshin Holdings, Inc. | 1,667 | 55,311 | ||||||
Haseko Corp. | 1,497 | 18,519 | ||||||
Heiwa Corp. | 764 | 11,531 | ||||||
Hikari Tsushin, Inc. | 100 | 19,795 | ||||||
Hino Motors Ltd. | 2,659 | 24,958 | ||||||
Hirose Electric Co. Ltd. | 540 | 78,765 | ||||||
Hisamitsu Pharmaceutical Co., Inc. | 740 | 46,120 | ||||||
Hitachi Capital Corp. | 500 | 13,502 | ||||||
Hitachi Construction Machinery Co. Ltd. | 400 | 12,296 | ||||||
Hitachi Ltd. | 1,346 | 61,602 | ||||||
Hitachi Metals Ltd. | 1,700 | 26,950 | ||||||
Hitachi Transport System Ltd. | 280 | 8,778 | ||||||
Hokuhoku Financial Group, Inc. | 1,100 | 9,932 | ||||||
Hokuriku Electric Power Co. | 9,363 | 58,002 | ||||||
Honda Motor Co. Ltd. | 1,845 | 50,420 | ||||||
Horiba Ltd. | 500 | 29,754 | ||||||
Hoshizaki Corp. | 513 | 44,973 | ||||||
House Foods Group, Inc. | 1,257 | 42,002 | ||||||
Hoya Corp. | 800 | 90,858 |
See Notes to Financial Statements. | 11 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Japan (Continued) | ||||||||
Hulic Co. Ltd. | 7,448 | $ | 83,051 | |||||
Ibiden Co. Ltd. | 600 | 24,385 | ||||||
Idemitsu Kosan Co. Ltd. | 225 | 5,880 | ||||||
Iida Group Holdings Co. Ltd. | 1,500 | 33,959 | ||||||
Industrial & Infrastructure Fund Investment Corp. REIT | 6 | 10,306 | ||||||
Inpex Corp. | 3,099 | 22,805 | ||||||
Isetan Mitsukoshi Holdings Ltd. | 900 | 6,564 | ||||||
Isuzu Motors Ltd. | 2,400 | 25,095 | ||||||
Ito En Ltd. | 600 | 33,114 | ||||||
ITOCHU Corp. | 4,736 | 140,826 | ||||||
Itochu Techno-Solutions Corp. | 1,200 | 36,831 | ||||||
Itoham Yonekyu Holdings, Inc. | 7,100 | 47,316 | ||||||
Iyo Bank Ltd. | 1,600 | 9,251 | ||||||
Izumi Co. Ltd. | 1,600 | 59,095 | ||||||
J. Front Retailing Co. Ltd. | 465 | 4,439 | ||||||
Japan Airlines Co. Ltd.* | 679 | 16,124 | ||||||
Japan Exchange Group, Inc. | 400 | 8,611 | ||||||
Japan Logistics Fund, Inc. REIT (b) | 4 | 11,714 | ||||||
Japan Post Insurance Co. Ltd. | 700 | 14,317 | ||||||
Japan Tobacco, Inc. | 4,564 | 82,464 | ||||||
JFE Holdings, Inc.* | 1,400 | 14,691 | ||||||
JGC Holdings Corp. | 2,000 | 25,662 | ||||||
JSR Corp. | 5,532 | 164,859 | ||||||
Justsystems Corp. | 107 | 6,257 | ||||||
Kagome Co. Ltd. | 265 | 7,897 | ||||||
Kajima Corp. | 7,200 | 91,774 | ||||||
Kakaku.com, Inc. | 786 | 24,936 | ||||||
Kaken Pharmaceutical Co. Ltd. | 1,347 | 53,544 | ||||||
Kamigumi Co. Ltd. | 3,632 | 67,908 | ||||||
Kandenko Co. Ltd. | 8,192 | 67,203 | ||||||
Kaneka Corp. | 1,122 | 43,494 | ||||||
Kansai Electric Power Co., Inc. | 7,011 | 69,919 | ||||||
Kansai Paint Co. Ltd. | 1,888 | 49,300 | ||||||
Kao Corp. | 1,153 | 77,314 | ||||||
Kawasaki Heavy Industries Ltd.* | 543 | 12,171 | ||||||
KDDI Corp. | 3,329 | 102,801 | ||||||
Keihan Holdings Co. Ltd. | 1,010 | 45,314 | ||||||
Keikyu Corp. | 881 | 13,925 | ||||||
Keio Corp. | 619 | 46,190 | ||||||
Keisei Electric Railway Co. Ltd. | 600 | 21,626 | ||||||
Kewpie Corp. | 1,559 | 33,700 | ||||||
Keyence Corp. | 50 | 23,728 | ||||||
Kikkoman Corp. | 973 | 64,203 | ||||||
Kinden Corp. | 9,800 | 159,961 | ||||||
Kintetsu Group Holdings Co. Ltd. | 800 | 33,415 | ||||||
Kirin Holdings Co. Ltd. | 2,912 | 57,084 | ||||||
Kissei Pharmaceutical Co. Ltd. | 300 | 5,975 | ||||||
Kobayashi Pharmaceutical Co. Ltd. | 526 | 49,667 | ||||||
Koei Tecmo Holdings Co. Ltd. | 740 | 41,605 | ||||||
Koito Manufacturing Co. Ltd. | 900 | 59,977 | ||||||
Kokuyo Co. Ltd. | 2,900 | 41,374 | ||||||
Komatsu Ltd. | 2,470 | 73,956 | ||||||
Konami Holdings Corp. | 482 | 30,900 | ||||||
K’s Holdings Corp. | 13,411 | 179,879 | ||||||
Kubota Corp. | 1,900 | 42,935 | ||||||
Kuraray Co. Ltd. | 4,881 | 54,610 |
Number | Value | |||||||
Japan (Continued) | ||||||||
Kurita Water Industries Ltd. | 4,028 | $ | 162,950 | |||||
Kusuri no Aoki Holdings Co. Ltd. | 200 | 15,675 | ||||||
Kyocera Corp. | 1,572 | 101,190 | ||||||
Kyowa Exeo Corp. | 4,672 | 119,365 | ||||||
Kyowa Kirin Co. Ltd. | 1,300 | 36,216 | ||||||
Kyudenko Corp. | 1,599 | 52,530 | ||||||
Kyushu Electric Power Co., Inc. | 14,464 | 124,222 | ||||||
Kyushu Railway Co. | 2,124 | 55,263 | ||||||
LaSalle Logiport REIT | 6 | 9,050 | ||||||
Lawson, Inc. (b) | 1,800 | 84,053 | ||||||
Lintec Corp. | 3,513 | 76,598 | ||||||
Lion Corp. | 3,506 | 67,329 | ||||||
LIXIL Group Corp. | 1,711 | 47,970 | ||||||
Mabuchi Motor Co. Ltd. | 800 | 35,367 | ||||||
Maeda Road Construction Co. Ltd. | 1,700 | 34,530 | ||||||
Makita Corp. | 2,818 | 119,951 | ||||||
Mani, Inc. | 400 | 9,281 | ||||||
Marubeni Corp. | 8,791 | 65,326 | ||||||
Marui Group Co. Ltd. | 879 | 16,674 | ||||||
Maruichi Steel Tube Ltd. | 1,950 | 44,531 | ||||||
Matsumotokiyoshi Holdings Co. Ltd. | 1,497 | 58,733 | ||||||
Mazda Motor Corp. | 1,400 | 11,025 | ||||||
Mebuki Financial Group, Inc. | 4,400 | 9,375 | ||||||
Medipal Holdings Corp. | 4,251 | 84,190 | ||||||
Megmilk Snow Brand Co. Ltd. | 900 | 18,044 | ||||||
MEIJI Holdings Co. Ltd. | 2,669 | 169,349 | ||||||
MINEBEA MITSUMI, Inc. | 871 | 21,379 | ||||||
MISUMI Group, Inc. | 1,940 | 59,180 | ||||||
Mitsubishi Chemical Holdings Corp. | 20,002 | 138,891 | ||||||
Mitsubishi Corp. | 2,336 | 65,844 | ||||||
Mitsubishi Electric Corp. | 12,574 | 185,117 | ||||||
Mitsubishi Estate Co. Ltd. | 1,900 | 32,778 | ||||||
Mitsubishi Gas Chemical Co., Inc. | 8,167 | 190,032 | ||||||
Mitsubishi Heavy Industries Ltd. | 2,113 | 60,847 | ||||||
Mitsubishi Logistics Corp. | 1,300 | 40,572 | ||||||
Mitsubishi Materials Corp. | 700 | 16,445 | ||||||
Mitsubishi Shokuhin Co. Ltd. | 1,500 | 40,253 | ||||||
Mitsui & Co. Ltd. | 9,525 | 202,364 | ||||||
Mitsui Chemicals, Inc. | 4,200 | 129,304 | ||||||
Mitsui Fudosan Co. Ltd. | 1,000 | 22,527 | ||||||
Mitsui OSK Lines Ltd. | 200 | 6,317 | ||||||
Miura Co. Ltd. | 1,657 | 85,696 | ||||||
Mizuho Financial Group, Inc. | 1,080 | 15,804 | ||||||
Mochida Pharmaceutical Co. Ltd. | 261 | 9,701 | ||||||
MonotaRO Co. Ltd. | 300 | 17,233 | ||||||
Morinaga & Co. Ltd. | 500 | 18,021 | ||||||
Morinaga Milk Industry Co. Ltd. | 1,100 | 50,075 | ||||||
MS&AD Insurance Group Holdings, Inc. | 900 | 25,343 | ||||||
Murata Manufacturing Co. Ltd. | 817 | 69,638 | ||||||
Nabtesco Corp. | 800 | 33,940 | ||||||
Nagase & Co. Ltd. | 3,465 | 54,118 | ||||||
Nagoya Railroad Co. Ltd. | 2,376 | 60,303 | ||||||
Nankai Electric Railway Co. Ltd. | 1,518 | 36,618 | ||||||
NEC Corp. | 1,300 | 70,772 | ||||||
NEC Networks & System Integration Corp. | 2,200 | 36,570 | ||||||
NET One Systems Co. Ltd. | 400 | 12,409 |
See Notes to Financial Statements. | 12 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Japan (Continued) | ||||||||
Nexon Co. Ltd. | 1,200 | $ | 37,845 | |||||
NGK Insulators Ltd. | 2,077 | 36,651 | ||||||
NGK Spark Plug Co. Ltd. | 902 | 15,256 | ||||||
NH Foods Ltd. | 2,000 | 84,194 | ||||||
NHK Spring Co. Ltd. | 3,200 | 23,908 | ||||||
Nichirei Corp. | 2,400 | 62,467 | ||||||
Nidec Corp. | 172 | 21,827 | ||||||
Nifco, Inc. | 1,661 | 56,983 | ||||||
Nihon Kohden Corp. | 1,300 | 35,252 | ||||||
Nihon M&A Center, Inc. | 900 | 49,080 | ||||||
Nihon Unisys Ltd. | 900 | 26,018 | ||||||
Nippo Corp. | 3,961 | 103,394 | ||||||
Nippon Accommodations Fund, Inc. REIT (b) | 2 | 11,151 | ||||||
Nippon Express Co. Ltd. | 1,536 | 114,184 | ||||||
Nippon Kayaku Co. Ltd. | 5,500 | 53,276 | ||||||
Nippon Paper Industries Co. Ltd. | 1,930 | 25,216 | ||||||
Nippon Prologis REIT, Inc. REIT | 4 | 12,240 | ||||||
Nippon Sanso Holdings Corp. | 859 | 16,117 | ||||||
Nippon Shinyaku Co. Ltd. | 300 | 20,359 | ||||||
Nippon Shokubai Co. Ltd. | 700 | 37,188 | ||||||
Nippon Steel Corp.* | 4,013 | 59,042 | ||||||
Nippon Telegraph & Telephone Corp. | 1,891 | 48,952 | ||||||
Nippon Television Holdings, Inc. | 1,500 | 19,838 | ||||||
Nippon Yusen KK | 1,800 | 51,614 | ||||||
Nishi-Nippon Railroad Co. Ltd. | 1,500 | 42,041 | ||||||
Nissan Chemical Corp. | 1,683 | 91,464 | ||||||
Nissan Motor Co. Ltd.* | 2,700 | 14,564 | ||||||
Nissan Shatai Co. Ltd. | 1,080 | 7,765 | ||||||
Nisshin Seifun Group, Inc. | 2,778 | 44,666 | ||||||
Nissin Foods Holdings Co. Ltd. | 1,184 | 89,461 | ||||||
Nitori Holdings Co. Ltd. | 532 | 99,244 | ||||||
Nitto Denko Corp. | 2,343 | 199,905 | ||||||
Noevir Holdings Co. Ltd. | 200 | 8,936 | ||||||
NOF Corp. | 2,807 | 147,806 | ||||||
NOK Corp. | 800 | 10,925 | ||||||
Nomura Holdings, Inc. | 3,000 | 17,424 | ||||||
Nomura Real Estate Holdings, Inc. | 1,286 | 28,957 | ||||||
Nomura Research Institute Ltd. | 2,930 | 91,030 | ||||||
NS Solutions Corp. | 600 | 17,599 | ||||||
NSK Ltd. | 1,856 | 18,170 | ||||||
NTT Data Corp. | 717 | 10,936 | ||||||
Obayashi Corp. | 30,862 | 264,474 | ||||||
OBIC Business Consultants Co. Ltd. | 200 | 11,170 | ||||||
Obic Co. Ltd. | 400 | 67,505 | ||||||
Odakyu Electric Railway Co. Ltd. | 1,609 | 47,044 | ||||||
Oji Holdings Corp. | 21,888 | 137,853 | ||||||
OKUMA Corp. | 200 | 10,982 | ||||||
Olympus Corp. | 1,556 | 32,569 | ||||||
Omron Corp. | 1,300 | 104,693 | ||||||
Ono Pharmaceutical Co. Ltd. | 2,277 | 61,210 | ||||||
Open House Co. Ltd. | 345 | 13,212 | ||||||
Oracle Corp. | 200 | 20,274 | ||||||
Oriental Land Co. Ltd. | 100 | 16,745 | ||||||
ORIX Corp. | 5,636 | 95,300 | ||||||
Osaka Gas Co. Ltd. | 12,129 | 216,988 | ||||||
OSG Corp. | 900 | 16,126 |
Number | Value | |||||||
Japan (Continued) | ||||||||
Otsuka Corp. | 1,508 | $ | 70,064 | |||||
Otsuka Holdings Co. Ltd. | 1,034 | 40,995 | ||||||
PALTAC Corp. | 1,582 | 85,678 | ||||||
Pan Pacific International Holdings Corp. | 6,799 | 159,222 | ||||||
Panasonic Corp. | 5,172 | 66,288 | ||||||
Park24 Co. Ltd.* | 564 | 12,128 | ||||||
Penta-Ocean Construction Co. Ltd. | 6,520 | 48,469 | ||||||
Persol Holdings Co. Ltd. | 629 | 12,440 | ||||||
Pigeon Corp. | 800 | 28,909 | ||||||
Pilot Corp. | 448 | 13,456 | ||||||
Pola Orbis Holdings, Inc. | 600 | 13,702 | ||||||
Rakuten, Inc. | 2,215 | 24,761 | ||||||
Recruit Holdings Co. Ltd. | 826 | 40,943 | ||||||
Relo Group, Inc. | 200 | 4,710 | ||||||
Rengo Co. Ltd. | 8,512 | 68,949 | ||||||
Resona Holdings, Inc. | 3,800 | 15,255 | ||||||
Resorttrust, Inc. | 600 | 10,300 | ||||||
Ricoh Co. Ltd. | 1,200 | 10,385 | ||||||
Rinnai Corp. | 1,517 | 153,494 | ||||||
Rohm Co. Ltd. | 214 | 21,030 | ||||||
Rohto Pharmaceutical Co. Ltd. | 1,611 | 43,065 | ||||||
Ryohin Keikaku Co. Ltd. | 940 | 21,158 | ||||||
Sankyo Co. Ltd. | 1,209 | 33,544 | ||||||
Sankyu, Inc. | 800 | 33,340 | ||||||
Santen Pharmaceutical Co. Ltd. | 2,700 | 37,051 | ||||||
Sanwa Holdings Corp. | 5,100 | 62,948 | ||||||
Sapporo Holdings Ltd. | 600 | 12,305 | ||||||
Sawai Pharmaceutical Co. Ltd. | 400 | 17,946 | ||||||
SCSK Corp. | 500 | 29,426 | ||||||
Secom Co. Ltd. | 1,635 | 141,585 | ||||||
Sega Sammy Holdings, Inc. | 3,700 | 62,130 | ||||||
Seibu Holdings, Inc. | 600 | 7,209 | ||||||
Seiko Epson Corp. | 851 | 13,930 | ||||||
Seino Holdings Co. Ltd. | 11,200 | 156,636 | ||||||
Sekisui Chemical Co. Ltd. | 8,101 | 144,090 | ||||||
Sekisui House Ltd. | 21,136 | 396,176 | ||||||
Seven & i Holdings Co. Ltd. (b) | 3,900 | 147,778 | ||||||
Seven Bank Ltd. (b) | 11,000 | 24,779 | ||||||
SG Holdings Co. Ltd. | 2,244 | 51,561 | ||||||
Shikoku Electric Power Co., Inc. | 3,200 | 22,317 | ||||||
Shimadzu Corp. | 3,096 | 111,298 | ||||||
Shimamura Co. Ltd. | 700 | 69,711 | ||||||
Shimano, Inc. | 466 | 104,144 | ||||||
Shimizu Corp. | 19,646 | 148,442 | ||||||
Shin-Etsu Chemical Co. Ltd. | 600 | 97,710 | ||||||
Shionogi & Co. Ltd. | 1,500 | 76,211 | ||||||
Ship Healthcare Holdings, Inc. | 719 | 39,884 | ||||||
Shizuoka Bank Ltd. | 1,500 | 10,954 | ||||||
SHO-BOND Holdings Co. Ltd. | 1,549 | 67,607 | ||||||
Shochiku Co. Ltd.* | 118 | 17,610 | ||||||
Showa Denko KK | 700 | 17,043 | ||||||
SKY Perfect JSAT Holdings, Inc. | 4,700 | 19,852 | ||||||
Skylark Holdings Co. Ltd.* | 946 | 14,633 | ||||||
SMC Corp. | 84 | 49,593 | ||||||
SoftBank Corp. | 2,105 | 28,471 | ||||||
Sohgo Security Services Co. Ltd. | 1,087 | 48,973 | ||||||
Sojitz Corp. | 12,700 | 33,377 |
See Notes to Financial Statements. | 13 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Japan (Continued) | ||||||||
Sompo Holdings, Inc. | 800 | $ | 30,636 | |||||
Sony Corp. | 708 | 73,897 | ||||||
Sotetsu Holdings, Inc. | 1,600 | 37,064 | ||||||
Square Enix Holdings Co. Ltd. | 300 | 17,008 | ||||||
Stanley Electric Co. Ltd. | 2,331 | 69,029 | ||||||
Subaru Corp. | 1,764 | 32,924 | ||||||
Sugi Holdings Co. Ltd. | 2,135 | 148,693 | ||||||
Sumitomo Bakelite Co. Ltd. | 300 | 11,925 | ||||||
Sumitomo Chemical Co. Ltd. | 4,200 | 20,302 | ||||||
Sumitomo Corp. | 5,532 | 79,989 | ||||||
Sumitomo Electric Industries Ltd. | 10,226 | 148,437 | ||||||
Sumitomo Forestry Co. Ltd. | 883 | 15,830 | ||||||
Sumitomo Heavy Industries Ltd. | 849 | 23,309 | ||||||
Sumitomo Metal Mining Co. Ltd. | 1,769 | 85,378 | ||||||
Sumitomo Mitsui Financial Group, Inc. | 500 | 17,562 | ||||||
Sumitomo Mitsui Trust Holdings, Inc. | 400 | 13,148 | ||||||
Sumitomo Osaka Cement Co. Ltd. | 900 | 29,735 | ||||||
Sumitomo Realty & Development Co. Ltd. | 771 | 26,559 | ||||||
Sumitomo Rubber Industries Ltd. | 1,400 | 15,572 | ||||||
Sundrug Co. Ltd. | 2,588 | 97,165 | ||||||
Suntory Beverage & Food Ltd. | 974 | 33,323 | ||||||
Sushiro Global Holdings Ltd. | 1,784 | 66,728 | ||||||
Suzuken Co. Ltd. | 384 | 14,633 | ||||||
Suzuki Motor Corp. | 542 | 23,396 | ||||||
Sysmex Corp. | 427 | 44,427 | ||||||
T&D Holdings, Inc. | 1,341 | 18,075 | ||||||
Taiheiyo Cement Corp. | 1,100 | 27,381 | ||||||
Taisei Corp. | 4,734 | 166,850 | ||||||
Taisho Pharmaceutical Holdings Co. Ltd. | 100 | 6,129 | ||||||
Taiyo Yuden Co. Ltd. | 400 | 19,748 | ||||||
Takashimaya Co. Ltd. (b) | 1,600 | 16,249 | ||||||
Takeda Pharmaceutical Co. Ltd. | 300 | 10,086 | ||||||
TBS Holdings, Inc. | 1,472 | 26,845 | ||||||
TDK Corp. | 610 | 87,257 | ||||||
TechnoPro Holdings, Inc. | 329 | 23,901 | ||||||
Teijin Ltd. | 6,020 | 103,403 | ||||||
Terumo Corp. | 616 | 22,844 | ||||||
TIS, Inc. | 2,800 | 58,187 | ||||||
Tobu Railway Co. Ltd. | 2,900 | 82,476 | ||||||
Toda Corp. | 16,000 | 109,330 | ||||||
Toho Co. Ltd. | 1,359 | 51,023 | ||||||
Toho Gas Co. Ltd. | 3,549 | 208,530 | ||||||
Tohoku Electric Power Co., Inc. | 27,219 | 239,386 | ||||||
Tokai Rika Co. Ltd. | 1,200 | 19,497 | ||||||
Tokio Marine Holdings, Inc. | 600 | 29,583 | ||||||
Tokyo Century Corp. | 200 | 13,028 | ||||||
Tokyo Electric Power Co. Holdings, Inc.* | 6,604 | 21,199 | ||||||
Tokyo Electron Ltd. | 211 | 86,250 | ||||||
Tokyo Gas Co. Ltd. | 8,159 | 168,633 | ||||||
Tokyo Ohka Kogyo Co. Ltd. | 300 | 17,627 | ||||||
Tokyo Tatemono Co. Ltd. | 1,100 | 15,601 | ||||||
Tokyu Corp. | 1,700 | 23,360 | ||||||
Tokyu Fudosan Holdings Corp. | 1,422 | 8,889 | ||||||
Toppan Printing Co. Ltd. | 10,565 | 165,803 | ||||||
Toray Industries, Inc. | 8,600 | 56,230 | ||||||
Toshiba TEC Corp. | 891 | 32,616 | ||||||
Tosoh Corp. | 9,441 | 172,799 |
Number | Value | |||||||
Japan (Continued) | ||||||||
TOTO Ltd. | 2,280 | $ | 137,177 | |||||
Toyo Seikan Group Holdings Ltd. | 1,500 | 18,754 | ||||||
Toyo Suisan Kaisha Ltd. | 4,100 | 174,714 | ||||||
Toyobo Co. Ltd. | 2,400 | 30,231 | ||||||
Toyoda Gosei Co. Ltd. | 1,684 | 43,641 | ||||||
Toyota Boshoku Corp. | 1,500 | 23,259 | ||||||
Toyota Industries Corp. | 698 | 59,619 | ||||||
Toyota Motor Corp. | 100 | 7,390 | ||||||
Toyota Tsusho Corp. | 1,523 | 63,756 | ||||||
Trend Micro, Inc. | 1,039 | 49,931 | ||||||
TS Tech Co. Ltd. | 2,229 | 61,866 | ||||||
Tsuruha Holdings, Inc. | 1,228 | 158,024 | ||||||
TV Asahi Holdings Corp. | 1,500 | 28,764 | ||||||
Ube Industries Ltd. | 2,993 | 60,062 | ||||||
Unicharm Corp. | 1,377 | 54,491 | ||||||
Ushio, Inc. | 601 | 7,491 | ||||||
USS Co. Ltd. | 2,900 | 55,093 | ||||||
Wacoal Holdings Corp. | 1,000 | 21,325 | ||||||
Welcia Holdings Co. Ltd. | 1,742 | 55,674 | ||||||
West Japan Railway Co. | 536 | 32,772 | ||||||
Yakult Honsha Co. Ltd. | 1,000 | 49,465 | ||||||
Yamada Holdings Co. Ltd. | 29,557 | 141,210 | ||||||
Yamaguchi Financial Group, Inc. | 1,600 | 9,852 | ||||||
Yamaha Corp. | 981 | 54,602 | ||||||
Yamaha Motor Co. Ltd. | 800 | 17,413 | ||||||
Yamato Holdings Co. Ltd. | 5,800 | 152,540 | ||||||
Yamato Kogyo Co. Ltd. | 1,300 | 32,384 | ||||||
Yamazaki Baking Co. Ltd. | 2,753 | 46,331 | ||||||
Yaoko Co. Ltd. | 1,200 | 73,550 | ||||||
Yaskawa Electric Corp. | 100 | 4,993 | ||||||
Yokogawa Electric Corp. | 1,400 | 26,491 | ||||||
Yokohama Rubber Co. Ltd. | 900 | 15,543 | ||||||
Z Holdings Corp. | 782 | 4,760 | ||||||
Zenkoku Hosho Co. Ltd. | 1,338 | 61,349 | ||||||
Zensho Holdings Co. Ltd. | 1,400 | 37,280 | ||||||
Zeon Corp. | 2,359 | 34,541 | ||||||
|
| |||||||
(Cost $20,887,963) | 23,006,117 | |||||||
|
| |||||||
Jordan — 0.1% | ||||||||
Hikma Pharmaceuticals PLC | 2,366 | 73,965 | ||||||
|
| |||||||
Luxembourg — 0.3% | ||||||||
Aroundtown SA | 10,602 | 77,392 | ||||||
Eurofins Scientific SE* | 470 | 42,010 | ||||||
L’Occitane International SA | 6,964 | 18,269 | ||||||
RTL Group SA* | 788 | 44,629 | ||||||
Tenaris SA | 699 | 7,336 | ||||||
|
| |||||||
(Cost $182,072) | 189,636 | |||||||
|
| |||||||
Macau — 0.0% | ||||||||
Sands China Ltd.* | 3,969 | 18,573 | ||||||
|
| |||||||
Netherlands — 2.2% | ||||||||
Aalberts NV | 1,064 | 49,903 | ||||||
Akzo Nobel NV | 1,301 | 135,112 | ||||||
ASM International NV | 265 | 71,923 | ||||||
ASML Holding NV | 39 | 22,029 |
See Notes to Financial Statements. | 14 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Netherlands (Continued) | ||||||||
ASR Nederland NV | 400 | $ | 16,799 | |||||
Euronext NV, 144A | 770 | 83,369 | ||||||
EXOR NV | 99 | 7,991 | ||||||
Heineken Holding NV | 254 | 21,951 | ||||||
Heineken NV | 61 | 6,049 | ||||||
IMCD NV | 816 | 100,978 | ||||||
Koninklijke Ahold Delhaize NV | 6,353 | 168,414 | ||||||
Koninklijke DSM NV | 930 | 154,142 | ||||||
Koninklijke KPN NV | 44,831 | 147,358 | ||||||
Koninklijke Philips NV* | 1,337 | 72,955 | ||||||
Koninklijke Vopak NV | 1,309 | 62,776 | ||||||
NN Group NV | 841 | 38,995 | ||||||
QIAGEN NV* | 799 | 39,763 | ||||||
Randstad NV* | 2,958 | 198,694 | ||||||
Signify NV, 144A* | 1,614 | 70,625 | ||||||
Stellantis NV | 2,012 | 32,808 | ||||||
Wolters Kluwer NV | 1,817 | 144,856 | ||||||
|
| |||||||
(Cost $1,257,422) | 1,647,490 | |||||||
|
| |||||||
New Zealand — 1.0% | ||||||||
Auckland International Airport Ltd.* | 2,220 | 12,187 | ||||||
Contact Energy Ltd. | 9,473 | 47,113 | ||||||
Fisher & Paykel Healthcare Corp. Ltd. | 9,271 | 197,173 | ||||||
Fletcher Building Ltd. | 3,620 | 17,003 | ||||||
Mercury NZ Ltd. | 11,558 | 50,843 | ||||||
Meridian Energy Ltd. | 15,317 | 63,481 | ||||||
Ryman Healthcare Ltd. | 7,071 | 75,320 | ||||||
SKYCITY Entertainment Group Ltd.* | 5,458 | 12,064 | ||||||
Spark New Zealand Ltd. | 63,536 | 212,044 | ||||||
Xero Ltd.* | 233 | 21,364 | ||||||
|
| |||||||
(Cost $450,795) | 708,592 | |||||||
|
| |||||||
Norway — 1.1% | ||||||||
DNB ASA (b) | 56 | 1,097 | ||||||
Equinor ASA | 844 | 15,999 | ||||||
Gjensidige Forsikring ASA | 1,994 | 46,076 | ||||||
Leroy Seafood Group ASA | 6,532 | 52,866 | ||||||
Mowi ASA | 4,700 | 114,280 | ||||||
Norsk Hydro ASA | 11,615 | 64,738 | ||||||
Orkla ASA | 17,944 | 166,397 | ||||||
Salmar ASA | 1,220 | 80,804 | ||||||
Schibsted ASA, Class A* | 157 | 6,393 | ||||||
Schibsted ASA, Class B* | 415 | 14,350 | ||||||
Telenor ASA | 1,800 | 29,293 | ||||||
TOMRA Systems ASA | 1,845 | 79,439 | ||||||
Yara International ASA | 3,450 | 166,891 | ||||||
|
| |||||||
(Cost $693,065) | 838,623 | |||||||
|
| |||||||
Poland — 0.4% | ||||||||
CD Projekt SA* | 155 | 9,846 | ||||||
Cyfrowy Polsat SA | 4,174 | 32,049 | ||||||
Dino Polska SA, 144A* | 524 | 34,635 | ||||||
KGHM Polska Miedz SA* | 1,786 | 90,791 | ||||||
LPP SA* | 3 | 6,302 | ||||||
Polski Koncern Naftowy ORLEN SA | 2,335 | 36,886 | ||||||
Polskie Gornictwo Naftowe i Gazownictwo SA | 30,756 | 46,240 |
Number | Value | |||||||
Poland (Continued) | ||||||||
Powszechny Zaklad Ubezpieczen SA* | 1,062 | $ | 8,345 | |||||
|
| |||||||
(Cost $252,283) | 265,094 | |||||||
|
| |||||||
Portugal — 0.2% | ||||||||
EDP — Energias de Portugal SA | 18,948 | 109,154 | ||||||
Galp Energia SGPS SA | 2,533 | 28,544 | ||||||
Jeronimo Martins SGPS SA | 1,261 | 19,668 | ||||||
|
| |||||||
(Cost $135,337) | 157,366 | |||||||
|
| |||||||
Singapore — 3.0% | ||||||||
Ascendas Real Estate Investment Trust REIT | 63,136 | 139,595 | ||||||
Ascott Residence Trust | 19,864 | 14,789 | ||||||
BOC Aviation Ltd., 144A | 2,596 | 25,099 | ||||||
CapitaLand Integrated Commercial Trust REIT | 70,074 | 110,668 | ||||||
CapitaLand Ltd. | 34,664 | 82,900 | ||||||
City Developments Ltd. | 5,668 | 31,373 | ||||||
ComfortDelGro Corp. Ltd. | 33,344 | 40,373 | ||||||
DBS Group Holdings Ltd. | 2,721 | 54,514 | ||||||
Frasers Logistics & Commercial Trust REIT | 100,600 | 104,406 | ||||||
Frasers Property Ltd. | 9,500 | 8,288 | ||||||
Genting Singapore Ltd. | 89,300 | 57,420 | ||||||
Jardine Cycle & Carriage Ltd. | 905 | 14,320 | ||||||
Keppel REIT | 10,600 | 9,247 | ||||||
Keppel Corp. Ltd. | 7,362 | 28,126 | ||||||
Keppel DC REIT | 41,500 | 85,203 | ||||||
Mapletree Commercial Trust REIT | 60,091 | 92,190 | ||||||
Mapletree Industrial Trust REIT | 81,251 | 162,539 | ||||||
Mapletree Logistics Trust REIT | 90,981 | 126,581 | ||||||
Mapletree North Asia Commercial Trust REIT | 10,696 | 7,722 | ||||||
NetLink NBN Trust | 71,300 | 50,940 | ||||||
Olam International Ltd. | 13,708 | 16,495 | ||||||
Oversea-Chinese Banking Corp. Ltd. | 6,993 | 57,797 | ||||||
SATS Ltd.* | 5,765 | 19,076 | ||||||
Sembcorp Industries Ltd. | 18,853 | 24,529 | ||||||
SIA Engineering Co. Ltd. | 10,800 | 16,569 | ||||||
Singapore Airlines Ltd.* | 6,527 | 24,445 | ||||||
Singapore Exchange Ltd. | 30,380 | 228,244 | ||||||
Singapore Post Ltd. | 29,500 | 15,419 | ||||||
Singapore Press Holdings Ltd. | 12,666 | 13,336 | ||||||
Singapore Technologies Engineering Ltd. | 35,928 | 101,594 | ||||||
Singapore Telecommunications Ltd. | 19,066 | 33,696 | ||||||
StarHub Ltd. | 35,900 | 34,288 | ||||||
Suntec Real Estate Investment Trust REIT | 32,900 | 35,877 | ||||||
United Overseas Bank Ltd. | 2,500 | 46,401 | ||||||
UOL Group Ltd. | 10,529 | 58,516 | ||||||
Venture Corp. Ltd. | 11,862 | 171,280 | ||||||
Wilmar International Ltd. | 21,300 | 84,578 | ||||||
|
| |||||||
(Cost $2,092,586) | 2,228,433 | |||||||
|
| |||||||
South Korea — 4.0% | ||||||||
Amorepacific Corp. | 122 | 25,464 | ||||||
AMOREPACIFIC Group | 70 | 4,031 | ||||||
BNK Financial Group, Inc. | 1,086 | 5,703 | ||||||
Cheil Worldwide, Inc. | 1,481 | 25,639 |
See Notes to Financial Statements. | 15 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
South Korea (Continued) | ||||||||
CJ CheilJedang Corp. | 97 | $ | 35,096 | |||||
CJ Corp. | 272 | 22,443 | ||||||
CJ ENM Co. Ltd. | 175 | 21,542 | ||||||
CJ Logistics Corp.* | 362 | 52,842 | ||||||
Coway Co. Ltd. | 763 | 43,940 | ||||||
DB Insurance Co. Ltd. | 562 | 20,709 | ||||||
DL E&C Co. Ltd.* | 265 | 26,182 | ||||||
DL Holdings Co. Ltd. | 211 | 16,245 | ||||||
Dongsuh Cos., Inc. | 1,013 | 36,336 | ||||||
Doosan Bobcat, Inc.* | 617 | 17,766 | ||||||
E-MART, Inc. | 416 | 62,576 | ||||||
GS Engineering & Construction Corp. | 163 | 5,274 | ||||||
GS Holdings Corp. | 791 | 27,458 | ||||||
Hana Financial Group, Inc. | 1,157 | 38,155 | ||||||
Hankook Tire & Technology Co. Ltd. | 1,954 | 82,873 | ||||||
Hanon Systems | 699 | 9,612 | ||||||
Hanwha Corp. | 1,122 | 29,311 | ||||||
Hanwha Solutions Corp.* | 363 | 14,556 | ||||||
Hite Jinro Co. Ltd.* | 137 | 4,176 | ||||||
Hyundai Department Store Co. Ltd. | 429 | 31,311 | ||||||
Hyundai Engineering & Construction Co. Ltd. | 389 | 13,780 | ||||||
Hyundai Glovis Co. Ltd. | 217 | 37,277 | ||||||
Hyundai Heavy Industries Holdings Co. Ltd. | 41 | 9,871 | ||||||
Hyundai Marine & Fire Insurance Co. Ltd. | 837 | 16,315 | ||||||
Hyundai Mobis Co. Ltd. | 363 | 97,899 | ||||||
Hyundai Motor Co. | 107 | 22,571 | ||||||
Industrial Bank of Korea | 1,202 | 8,912 | ||||||
Kakao Corp. | 33 | 14,334 | ||||||
Kangwon Land, Inc.* | 1,148 | 24,728 | ||||||
KB Financial Group, Inc. | 1,864 | 72,669 | ||||||
KEPCO Plant Service & Engineering Co. Ltd.* | 507 | 12,117 | ||||||
Kia Motors Corp. | 4,204 | 297,105 | ||||||
Korea Electric Power Corp. | 1,994 | 40,288 | ||||||
Korea Zinc Co. Ltd. | 208 | 74,702 | ||||||
Korean Air Lines Co. Ltd.* | 805 | 20,170 | ||||||
KT&G Corp. | 1,770 | 123,356 | ||||||
Kumho Petrochemical Co. Ltd.* | 243 | 45,637 | ||||||
LG Chem Ltd. | 9 | 6,657 | ||||||
LG Corp. | 954 | 79,734 | ||||||
LG Display Co. Ltd. | 877 | 17,641 | ||||||
LG Electronics, Inc. | 2,120 | 276,440 | ||||||
LG Household & Health Care Ltd. | 28 | 37,707 | ||||||
LG Innotek Co. Ltd. | 147 | �� | 26,037 | |||||
LG Uplus Corp. | 2,895 | 30,406 | ||||||
Lotte Chemical Corp. | 73 | 20,662 | ||||||
LOTTE Fine Chemical Co. Ltd. | 466 | 22,149 | ||||||
LS Corp. | 243 | 15,119 | ||||||
Mando Corp.* | 178 | 9,902 | ||||||
NAVER Corp. | 101 | 33,712 | ||||||
NCSoft Corp. | 59 | 49,154 | ||||||
NHN Corp.* | 162 | 9,964 | ||||||
NongShim Co. Ltd. | 155 | 37,939 | ||||||
Orion Corp. | 241 | 27,564 | ||||||
Ottogi Corp. | 28 | 13,956 |
Number | Value | |||||||
South Korea (Continued) | ||||||||
POSCO | 665 | $ | 166,620 | |||||
S-1 Corp. | 656 | 48,463 | ||||||
Samsung C&T Corp. | 413 | 44,664 | ||||||
Samsung Card Co. Ltd. | 550 | 16,130 | ||||||
Samsung Electro-Mechanics Co. Ltd. | 397 | 66,962 | ||||||
Samsung Electronics Co. Ltd. | 251 | 18,431 | ||||||
Samsung Fire & Marine Insurance Co. Ltd. | 203 | 31,259 | ||||||
Samsung Life Insurance Co. Ltd. | 212 | 14,152 | ||||||
Samsung SDI Co. Ltd. | 18 | 10,798 | ||||||
Samsung SDS Co. Ltd. | 102 | 17,658 | ||||||
Shinhan Financial Group Co. Ltd. | 1,618 | 47,453 | ||||||
Shinsegae, Inc. | 70 | 16,636 | ||||||
SK Holdings Co. Ltd. | 112 | 26,168 | ||||||
SK Hynix, Inc. | 55 | 6,927 | ||||||
SK Innovation Co. Ltd.* | 96 | 22,259 | ||||||
SK Telecom Co. Ltd. | 237 | 52,210 | ||||||
Woori Financial Group, Inc. | 1,257 | 10,718 | ||||||
Yuhan Corp. | 281 | 15,507 | ||||||
|
| |||||||
(Cost $2,221,776) | 2,938,729 | |||||||
|
| |||||||
Spain — 0.9% | ||||||||
Acciona SA | 297 | 48,090 | ||||||
ACS Actividades de Construccion y Servicios SA | 335 | 10,304 | ||||||
Aena SME SA, 144A* | 182 | 31,126 | ||||||
Amadeus IT Group SA* | 451 | 31,477 | ||||||
Bankinter SA | 1,512 | 10,079 | ||||||
EDP Renovaveis SA | 1,177 | 25,858 | ||||||
Enagas SA | 3,313 | 69,830 | ||||||
Endesa SA | 1,673 | 41,731 | ||||||
Ferrovial SA | 923 | 23,124 | ||||||
Grifols SA | 175 | 4,422 | ||||||
Iberdrola SA | 4,161 | 52,653 | ||||||
Industria de Diseno Textil SA | 568 | 18,829 | ||||||
Inmobiliaria Colonial Socimi SA REIT | 5,649 | 55,403 | ||||||
Merlin Properties Socimi SA REIT | 1,871 | 19,497 | ||||||
Naturgy Energy Group SA | 2,012 | 50,577 | ||||||
Red Electrica Corp. SA | 5,427 | 91,333 | ||||||
Repsol SA | 459 | 5,803 | ||||||
Siemens Gamesa Renewable Energy SA | 525 | 19,627 | ||||||
Telefonica SA | 9,408 | 40,265 | ||||||
Zardoya Otis SA | 5,960 | 38,631 | ||||||
|
| |||||||
(Cost $673,010) | 688,659 | |||||||
|
| |||||||
Sweden — 8.4% | ||||||||
Alfa Laval AB* | 5,793 | 180,201 | ||||||
Assa Abloy AB, Class B | 4,269 | 107,588 | ||||||
Atlas Copco AB, Class A | 958 | 54,982 | ||||||
Atlas Copco AB, Class B | 748 | 36,456 | ||||||
Boliden AB | 5,711 | 227,417 | ||||||
Castellum AB | 6,966 | 163,367 | ||||||
Electrolux AB, Series B | 3,233 | 76,764 | ||||||
Elekta AB, Class B | 1,267 | 17,172 | ||||||
Epiroc AB, Class A | 6,249 | 133,310 | ||||||
Epiroc AB, Class B | 4,154 | 82,189 | ||||||
EQT AB | 780 | 21,868 | ||||||
Essity AB, Class B | 4,549 | 137,443 |
See Notes to Financial Statements. | 16 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Sweden (Continued) | ||||||||
Fastighets AB Balder, Class B* | 2,290 | $ | 110,355 | |||||
Hennes & Mauritz AB, Class B* | 1,718 | 40,700 | ||||||
Hexagon AB, Class B | 1,034 | 86,609 | ||||||
Holmen AB, Class B | 5,664 | 250,427 | ||||||
Husqvarna AB, Class B | 8,282 | 101,848 | ||||||
ICA Gruppen AB (b) | 764 | 36,462 | ||||||
Industrivarden AB, Class A* | 11,506 | 410,924 | ||||||
Industrivarden AB, Class C* | 9,482 | 314,821 | ||||||
Investment AB Latour, Class B | 2,759 | 63,161 | ||||||
Investor AB, Class A | 1,422 | 105,379 | ||||||
Investor AB, Class B | 4,312 | 320,727 | ||||||
Kinnevik AB, Class B* | 18,990 | 887,094 | ||||||
L E Lundbergforetagen AB, Class B* | 4,880 | 244,113 | ||||||
Lifco AB, Class B | 365 | 34,892 | ||||||
Lundin Energy AB | 593 | 19,279 | ||||||
Nibe Industrier AB, Class B | 2,847 | 89,917 | ||||||
Saab AB, Class B* | 942 | 25,052 | ||||||
Sandvik AB* | 7,060 | 190,534 | ||||||
Securitas AB, Class B | 7,048 | 108,613 | ||||||
Skandinaviska Enskilda Banken AB, Class A* | 1,682 | 19,459 | ||||||
Skanska AB, Class B | 5,887 | 143,529 | ||||||
SKF AB, Class B | 6,766 | 185,338 | ||||||
Svenska Cellulosa AB SCA, Class B* | 15,337 | 265,199 | ||||||
Svenska Handelsbanken AB, Class A* | 879 | 9,315 | ||||||
Sweco AB, Class B | 1,829 | 26,433 | ||||||
Swedbank AB, Class A (b) | 835 | 14,714 | ||||||
Swedish Match AB | 4,823 | 348,630 | ||||||
Swedish Orphan Biovitrum AB* | 416 | 6,819 | ||||||
Tele2 AB, Class B | 6,957 | 88,245 | ||||||
Telefonaktiebolaget LM Ericsson, Class B | 4,468 | 56,062 | ||||||
Telia Co. AB | 19,370 | 78,655 | ||||||
Trelleborg AB, Class B* | 2,921 | 74,728 | ||||||
Volvo AB, Class A* | 520 | 13,433 | ||||||
Volvo AB, Class B* | 5,688 | 146,464 | ||||||
|
| |||||||
(Cost $3,788,684) | 6,156,687 | |||||||
|
| |||||||
Switzerland — 4.6% | ||||||||
ABB Ltd. | 2,431 | 70,140 | ||||||
Adecco Group AG | 3,331 | 210,023 | ||||||
Alcon, Inc.* | 419 | 28,945 | ||||||
Baloise Holding AG | 125 | 21,940 | ||||||
Banque Cantonale Vaudoise | 70 | 7,377 | ||||||
Barry Callebaut AG | 28 | 60,868 | ||||||
Chocoladefabriken Lindt & Spruengli AG | 1 | 88,921 | ||||||
Chocoladefabriken Lindt & Spruengli AG Participation Certificates | 2 | 16,845 | ||||||
Cie Financiere Richemont SA, Class A | 397 | 38,406 | ||||||
Clariant AG | 401 | 8,420 | ||||||
Coca-Cola HBC AG* | 1,433 | 44,838 | ||||||
DKSH Holding AG | 2,073 | 155,595 | ||||||
EMS-Chemie Holding AG | 85 | 75,583 | ||||||
Flughafen Zurich AG* | 159 | 28,207 | ||||||
Geberit AG | 407 | 241,062 | ||||||
Georg Fischer AG | 64 | 82,642 | ||||||
Givaudan SA | 28 | 105,994 | ||||||
Helvetia Holding AG | 52 | 5,727 |
Number | Value | |||||||
Switzerland (Continued) | ||||||||
Kuehne + Nagel International AG | 507 | $ | 120,800 | |||||
LafargeHolcim Ltd.* | 1,377 | 76,296 | ||||||
Logitech International SA | 2,945 | 315,612 | ||||||
Lonza Group AG | 121 | 76,693 | ||||||
Nestle SA | 206 | 21,617 | ||||||
Novartis AG | 155 | 13,387 | ||||||
OC Oerlikon Corp. AG | 512 | 5,554 | ||||||
Partners Group Holding AG | 123 | 148,162 | ||||||
PSP Swiss Property AG | 1,084 | 129,797 | ||||||
Roche Holding AG | 69 | 22,709 | ||||||
Schindler Holding AG | 149 | 39,863 | ||||||
Schindler Holding AG Participation Certificates | 267 | 73,202 | ||||||
SGS SA | 39 | 111,792 | ||||||
SIG Combibloc Group AG* | 4,241 | 94,349 | ||||||
Sika AG | 47 | 12,470 | ||||||
Sonova Holding AG* | 548 | 140,919 | ||||||
STMicroelectronics NV | 211 | 8,188 | ||||||
Straumann Holding AG | 71 | 86,191 | ||||||
Sulzer AG | 100 | 11,245 | ||||||
Swatch Group AG — Bearer | 266 | 79,685 | ||||||
Swatch Group AG — Registered | 423 | 24,390 | ||||||
Swiss Life Holding AG | 32 | 15,988 | ||||||
Swiss Prime Site AG | 1,624 | 152,659 | ||||||
Swiss Re AG | 55 | 5,191 | ||||||
Swisscom AG | 212 | 106,902 | ||||||
Temenos AG | 43 | 5,830 | ||||||
UBS Group AG | 978 | 15,232 | ||||||
VAT Group AG, 144A | 303 | 84,611 | ||||||
Vifor Pharma AG | 234 | 29,234 | ||||||
Zurich Insurance Group AG | 52 | 21,339 | ||||||
|
| |||||||
(Cost $2,596,256) | 3,341,440 | |||||||
|
| |||||||
United Kingdom — 9.1% | ||||||||
3i Group PLC | 259 | 4,009 | ||||||
Admiral Group PLC | 6,505 | 280,843 | ||||||
Amcor PLC CDI | 28,440 | 313,540 | ||||||
Ashmore Group PLC | 5,483 | 31,614 | ||||||
Ashtead Group PLC | 1,495 | 81,098 | ||||||
Associated British Foods PLC* | 2,234 | 73,961 | ||||||
AstraZeneca PLC | 116 | 11,263 | ||||||
Auto Trader Group PLC, 144A* | 10,120 | 77,847 | ||||||
AVEVA Group PLC | 299 | 14,192 | ||||||
Aviva PLC | 3,010 | 15,230 | ||||||
B&M European Value Retail SA | 13,932 | 106,430 | ||||||
BAE Systems PLC | 31,059 | 210,127 | ||||||
Barratt Developments PLC* | 2,966 | 27,551 | ||||||
Bellway PLC | 1,328 | 52,135 | ||||||
Berkeley Group Holdings PLC | 1,938 | 109,817 | ||||||
BP PLC | 1,373 | 5,600 | ||||||
British American Tobacco PLC | 1,233 | 42,846 | ||||||
BT Group PLC* | 14,551 | 25,135 | ||||||
Bunzl PLC | 5,819 | 181,992 | ||||||
Burberry Group PLC* | 179 | 4,543 | ||||||
Centrica PLC* | 18,209 | 13,432 | ||||||
CNH Industrial NV* | 674 | 10,014 | ||||||
Compass Group PLC* | 1,796 | 36,535 |
See Notes to Financial Statements. | 17 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
United Kingdom (Continued) | ||||||||
ConvaTec Group PLC, 144A | 5,422 | $ | 14,282 | |||||
Croda International PLC | 2,711 | 233,783 | ||||||
Derwent London PLC REIT | 1,372 | 63,492 | ||||||
Diageo PLC | 376 | 14,785 | ||||||
Direct Line Insurance Group PLC | 53,056 | 237,813 | ||||||
DS Smith PLC* | 24,574 | 136,534 | ||||||
Ferguson PLC | 2,004 | 236,247 | ||||||
GlaxoSmithKline PLC | 182 | 3,030 | ||||||
Halma PLC | 3,589 | 113,753 | ||||||
Hargreaves Lansdown PLC | 1,720 | 36,323 | ||||||
HomeServe PLC | 3,400 | 49,484 | ||||||
Howden Joinery Group PLC* | 11,374 | 110,710 | ||||||
IMI PLC | 6,782 | 124,118 | ||||||
Imperial Brands PLC | 4,366 | 81,368 | ||||||
Informa PLC* | 551 | 4,243 | ||||||
InterContinental Hotels Group PLC* | 582 | 40,701 | ||||||
Intertek Group PLC | 2,239 | 167,661 | ||||||
ITV PLC* | 11,410 | 17,524 | ||||||
J Sainsbury PLC | 21,141 | 66,858 | ||||||
Johnson Matthey PLC | 2,990 | 127,709 | ||||||
Kingfisher PLC* | 16,980 | 63,005 | ||||||
Legal & General Group PLC | 4,412 | 15,995 | ||||||
M&G PLC | 7,065 | 18,165 | ||||||
Mondi PLC | 7,822 | 188,590 | ||||||
National Grid PLC | 9,467 | 106,734 | ||||||
Next PLC* | 750 | 79,272 | ||||||
Pearson PLC | 2,955 | 31,027 | ||||||
Pennon Group PLC | 7,385 | 90,240 | ||||||
Persimmon PLC | 2,382 | 86,254 | ||||||
Phoenix Group Holdings PLC | 1,364 | 13,540 | ||||||
Reckitt Benckiser Group PLC | 134 | 11,241 | ||||||
RELX PLC | 3,747 | 88,665 | ||||||
Renishaw PLC* | 309 | 24,841 | ||||||
Rentokil Initial PLC* | 20,276 | 132,300 | ||||||
Rightmove PLC* | 10,701 | 84,530 | ||||||
Rio Tinto PLC | 1,522 | 131,654 | ||||||
RSA Insurance Group PLC | 4,295 | 40,557 | ||||||
Sage Group PLC | 16,703 | 130,447 | ||||||
Schroders PLC | 548 | 26,839 | ||||||
Segro PLC REIT | 24,834 | 315,886 | ||||||
Severn Trent PLC | 4,594 | 140,661 | ||||||
Smith & Nephew PLC | 2,717 | 52,630 | ||||||
Smiths Group PLC | 683 | 13,980 | ||||||
Spirax-Sarco Engineering PLC | 1,098 | 164,411 | ||||||
SSE PLC | 7,480 | 138,513 | ||||||
St James’s Place PLC | 1,136 | 18,646 | ||||||
Standard Life Aberdeen PLC | 3,550 | 15,426 | ||||||
Tate & Lyle PLC | 20,375 | 207,095 | ||||||
Taylor Wimpey PLC* | 21,834 | 48,109 | ||||||
Tesco PLC | 22,517 | 70,769 | ||||||
Travis Perkins PLC* | 1,072 | 21,545 | ||||||
Unilever PLC | 2,438 | 127,242 | ||||||
United Utilities Group PLC | 8,776 | 105,422 | ||||||
Vodafone Group PLC | 28,343 | 48,352 | ||||||
Wm Morrison Supermarkets PLC | 64,702 | 154,551 | ||||||
WPP PLC | 3,416 | 40,777 | ||||||
|
| |||||||
(Cost $5,504,168) | 6,658,083 | |||||||
|
|
Number | Value | |||||||
United States — 0.1% | ||||||||
Waste Connections, Inc. | 1,012 | $ | 99,337 | |||||
|
| |||||||
TOTAL COMMON STOCKS | 72,803,273 | |||||||
|
| |||||||
PREFERRED STOCKS — 0.4% | ||||||||
Germany — 0.3% | ||||||||
FUCHS PETROLUB SE | 2,030 | 111,718 | ||||||
Henkel AG & Co. KGaA | 445 | 44,065 | ||||||
Porsche Automobil Holding SE | 784 | 63,169 | ||||||
Sartorius AG | 75 | 38,726 | ||||||
|
| |||||||
(Cost $204,357) | 257,678 | |||||||
|
| |||||||
South Korea — 0.1% | ||||||||
Hanwha Corp. | 1,241 | 15,078 | ||||||
Hyundai Motor Co. — 2nd Preferred | 55 | 4,993 | ||||||
LG Electronics, Inc. | 365 | 23,196 | ||||||
|
| |||||||
(Cost $30,810) | 43,267 | |||||||
|
| |||||||
TOTAL PREFERRED STOCKS | 300,945 | |||||||
|
| |||||||
RIGHTS — 0.0% | ||||||||
Australia — 0.0% | ||||||||
Bank of Queensland Ltd.*, expires 3/15/21 (c) (Cost $0) | 481 | 537 | ||||||
|
| |||||||
South Korea — 0.0% | ||||||||
Korean Air Lines Co. Ltd.*, expires 3/10/21 (Cost $2,656) | 637 | 5,131 | ||||||
|
| |||||||
TOTAL RIGHTS | 5,668 | |||||||
|
| |||||||
WARRANTS — 0.0% | ||||||||
Switzerland — 0.0% | ||||||||
Cie Financiere Richemont SA*, expires 11/22/23 | 826 | 292 | ||||||
|
| |||||||
SECURITIES LENDING COLLATERAL — 0.8% | ||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (d)(e) | 586,430 | 586,430 | ||||||
|
| |||||||
CASH EQUIVALENTS — 0.0% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (d) (Cost $36,373) | 36,373 | 36,373 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 100.2% (Cost $61,183,144) | $ | 73,732,981 | ||||||
Other assets and liabilities, net — (0.2%) | (183,643 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 73,549,338 | ||||||
|
|
See Notes to Financial Statements. | 18 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2021 (Unaudited)
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2021 is as follows:
Value ($) at 8/31/2020 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2021 | Value ($) at 2/28/2021 | ||||||||||||||||||||||||||||
COMMON STOCKS — 0.0% |
| |||||||||||||||||||||||||||||||||||
Germany — 0.0% |
| |||||||||||||||||||||||||||||||||||
DWS Group GmbH & Co. KGaA, 144A*(f) |
| |||||||||||||||||||||||||||||||||||
7,951 | — | (7,485 | ) | 1,203 | (1,669 | ) | — | — | — | — | ||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 0.8% |
| |||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (d)(e) |
| |||||||||||||||||||||||||||||||||||
1,188,901 | — | (602,471 | )(g) | — | — | 61 | — | 586,430 | 586,430 | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.0% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (d) |
| |||||||||||||||||||||||||||||||||||
15,272 | 7,907,045 | (7,885,944 | ) | — | — | 28 | — | 36,373 | 36,373 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
1,212,124 | 7,907,045 | (8,495,900 | ) | 1,203 | (1,669 | ) | 89 | — | 622,803 | 622,803 | ||||||||||||||||||||||||||
|
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|
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|
|
|
|
|
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|
|
|
|
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|
|
* | 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, 2021 amounted to $732,221, which is 1.0% of net assets. |
(c) | Investment was valued using significant unobservable inputs. |
(d) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
(e) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund held non-cash U.S. Treasury securities collateral having a value of $218,115. |
(f) | Affiliated issuer. This security is owned in proportion with its representation in the index. |
(g) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2021. |
CDI: | Chess Depositary Interest |
REIT: | Real Estate Investment Trust |
RSP: | Risparmio (Convertible Savings Shares) |
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, 2021, open futures contracts purchased were as follows:
Contract Description | Currency | Number of Contracts | Notional Amount | Contract Value | Expiration Date | Unrealized Appreciation | ||||||||||||
MSCI EAFE Futures | USD | 3 | $ | 317,655 | $324,600 | 3/19/2021 | $ | 6,945 |
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. | 19 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2021 (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, 2021 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 (h) | $ | 72,803,273 | $ | — | $ | — | $ | 72,803,273 | ||||||||
Preferred Stocks (h) | 300,945 | — | — | 300,945 | ||||||||||||
Rights (h) | — | 5,131 | 537 | 5,668 | ||||||||||||
Warrants | 292 | — | — | 292 | ||||||||||||
Short-Term Investments (h) | 622,803 | — | — | 622,803 | ||||||||||||
Derivatives (i) | ||||||||||||||||
Futures Contracts | 6,945 | — | — | 6,945 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 73,734,258 | $ | 5,131 | $ | 537 | $ | 73,739,926 | ||||||||
|
|
|
|
|
|
|
|
(h) | See Schedule of Investments for additional detailed categorizations. |
(i) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
See Notes to Financial Statements. | 20 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF
February 28, 2021 (Unaudited)
Number | Value | |||||||
COMMON STOCKS — 99.5% | ||||||||
Argentina — 0.2% | ||||||||
MercadoLibre, Inc.* | 803 | $ | 1,315,402 | |||||
|
| |||||||
Australia — 2.5% | ||||||||
Afterpay Ltd.* | 3,824 | 353,844 | ||||||
AGL Energy Ltd. | 11,925 | 86,507 | ||||||
AMP Ltd. | 64,111 | 74,452 | ||||||
Ampol Ltd. | 5,730 | 109,041 | ||||||
APA Group (a) | 19,033 | 136,891 | ||||||
Aristocrat Leisure Ltd. | 10,537 | 247,669 | ||||||
ASX Ltd. | 2,670 | 139,737 | ||||||
Aurizon Holdings Ltd. | 27,214 | 80,273 | ||||||
AusNet Services | 37,838 | 48,482 | ||||||
Australia & New Zealand Banking Group Ltd. | 50,821 | 1,029,675 | ||||||
BHP Group Ltd. | 52,519 | 1,997,637 | ||||||
BHP Group PLC | 36,141 | 1,146,750 | ||||||
BlueScope Steel Ltd. | 10,025 | 129,459 | ||||||
Brambles Ltd. | 25,068 | 192,136 | ||||||
Coca-Cola Amatil Ltd. | 6,290 | 65,206 | ||||||
Cochlear Ltd. | 1,325 | 216,868 | ||||||
Coles Group Ltd. | 22,050 | 261,700 | ||||||
Commonwealth Bank of Australia | 32,111 | 2,027,610 | ||||||
Computershare Ltd. | 5,963 | 61,262 | ||||||
CSL Ltd. | 8,252 | 1,677,609 | ||||||
Dexus REIT | 19,988 | 137,725 | ||||||
Evolution Mining Ltd. | 30,321 | 98,593 | ||||||
Fortescue Metals Group Ltd. | 29,938 | 558,822 | ||||||
Goodman Group REIT | 29,004 | 371,853 | ||||||
GPT Group REIT | 36,946 | 122,137 | ||||||
Insurance Australia Group Ltd. | 40,735 | 157,370 | ||||||
Lendlease Corp. Ltd. (a) | 12,433 | 128,021 | ||||||
Macquarie Group Ltd. | 6,183 | 682,035 | ||||||
Magellan Financial Group Ltd. | 2,636 | 88,652 | ||||||
Medibank Pvt Ltd. | 51,983 | 111,479 | ||||||
Mirvac Group REIT | 73,258 | 126,478 | ||||||
National Australia Bank Ltd. | 61,361 | 1,170,541 | ||||||
Newcrest Mining Ltd. | 14,036 | 267,755 | ||||||
Northern Star Resources Ltd. | 19,552 | 154,550 | ||||||
Oil Search Ltd. | 46,267 | 151,876 | ||||||
Orica Ltd. | 8,842 | 85,979 | ||||||
Origin Energy Ltd. | 33,243 | 115,815 | ||||||
Qantas Airways Ltd.* | 13,916 | 53,869 | ||||||
QBE Insurance Group Ltd. | 26,477 | 190,431 | ||||||
Ramsay Health Care Ltd. | 3,355 | 171,431 | ||||||
REA Group Ltd. | 994 | 105,275 | ||||||
Rio Tinto Ltd. | 6,673 | 657,094 | ||||||
Santos Ltd. | 37,496 | 209,883 | ||||||
Scentre Group REIT | 88,306 | 196,896 | ||||||
SEEK Ltd. | 6,187 | 123,102 | ||||||
Sonic Healthcare Ltd. | 8,339 | 204,851 | ||||||
South32 Ltd. | 92,583 | 198,547 | ||||||
Stockland REIT | 49,845 | 160,920 | ||||||
Suncorp Group Ltd. | 18,149 | 139,667 | ||||||
Sydney Airport*(a) | 23,299 | 105,703 | ||||||
Tabcorp Holdings Ltd. | 46,658 | 160,746 |
Number | Value | |||||||
Australia (Continued) | ||||||||
Telstra Corp. Ltd. | 63,438 | $ | 151,270 | |||||
Transurban Group (a) | 50,177 | 497,242 | ||||||
Treasury Wine Estates Ltd. | 14,822 | 125,080 | ||||||
Vicinity Centres REIT | 59,745 | 75,858 | ||||||
Wesfarmers Ltd. | 20,699 | 789,079 | ||||||
Westpac Banking Corp. | 65,095 | 1,200,446 | ||||||
WiseTech Global Ltd. | 2,508 | 52,950 | ||||||
Woodside Petroleum Ltd. | 18,614 | 354,077 | ||||||
Woolworths Group Ltd. | 22,834 | 696,517 | ||||||
|
| |||||||
(Cost $17,021,929) | 21,233,423 | |||||||
|
| |||||||
Austria — 0.0% | ||||||||
Erste Group Bank AG* | 4,290 | 142,105 | ||||||
OMV AG | 3,086 | 149,307 | ||||||
Verbund AG | 928 | 71,189 | ||||||
voestalpine AG | 1,771 | 70,594 | ||||||
|
| |||||||
(Cost $318,778) | 433,195 | |||||||
|
| |||||||
Belgium — 0.3% | ||||||||
Ageas SA/NV | 2,638 | 148,765 | ||||||
Anheuser-Busch InBev SA/NV | 13,873 | 799,182 | ||||||
Elia Group SA/NV | 521 | 56,662 | ||||||
Etablissements Franz Colruyt NV | 990 | 59,650 | ||||||
Galapagos NV* | 728 | 60,318 | ||||||
Groupe Bruxelles Lambert SA | 1,688 | 168,337 | ||||||
KBC Group NV* | 4,999 | 361,761 | ||||||
Proximus SADP | 2,756 | 54,193 | ||||||
Sofina SA | 322 | 107,287 | ||||||
Solvay SA | 1,419 | 174,133 | ||||||
UCB SA | 2,390 | 239,157 | ||||||
Umicore SA | 2,859 | 168,863 | ||||||
|
| |||||||
(Cost $2,196,336) | 2,398,308 | |||||||
|
| |||||||
Bermuda — 0.1% | ||||||||
Arch Capital Group Ltd.* | 6,462 | 231,469 | ||||||
Athene Holding Ltd., Class A* | 2,409 | 109,826 | ||||||
Everest Re Group Ltd. | 721 | 174,345 | ||||||
RenaissanceRe Holdings Ltd. | 702 | 117,220 | ||||||
|
| |||||||
(Cost $536,520) | 632,860 | |||||||
|
| |||||||
Canada — 3.5% | ||||||||
Agnico Eagle Mines Ltd. | 4,311 | 241,906 | ||||||
Air Canada* | 2,738 | 54,284 | ||||||
Algonquin Power & Utilities Corp. | 7,808 | 121,561 | ||||||
Alimentation Couche-Tard, Inc., Class B | 14,979 | 452,565 | ||||||
AltaGas Ltd. | 3,952 | 60,216 | ||||||
B2Gold Corp. | 19,339 | 84,627 | ||||||
Ballard Power Systems, Inc.* | 4,250 | 119,510 | ||||||
Bank of Montreal | 11,702 | 961,117 | ||||||
Bank of Nova Scotia | 21,380 | 1,256,455 | ||||||
Barrick Gold Corp. | 31,888 | 598,215 | ||||||
BCE, Inc. | 1,918 | 82,462 | ||||||
BlackBerry Ltd.* | 10,011 | 101,771 | ||||||
Brookfield Asset Management, Inc., Class A | 23,254 | 944,120 | ||||||
CAE, Inc. | 5,023 | 133,629 | ||||||
Cameco Corp. | 10,025 | 158,135 | ||||||
Canadian Apartment Properties REIT | 1,454 | 58,619 |
See Notes to Financial Statements. | 21 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Canada (Continued) | ||||||||
Canadian Imperial Bank of Commerce | 7,749 | $ | 718,160 | |||||
Canadian National Railway Co. | 12,604 | 1,382,955 | ||||||
Canadian Natural Resources Ltd. | 21,132 | 579,377 | ||||||
Canadian Pacific Railway Ltd. | 2,370 | 849,007 | ||||||
Canadian Tire Corp. Ltd., Class A | 1,072 | 139,241 | ||||||
Canadian Utilities Ltd., Class A | 2,298 | 54,673 | ||||||
Canopy Growth Corp.* | 4,101 | 135,728 | ||||||
CCL Industries, Inc., Class B | 2,761 | 146,185 | ||||||
Cenovus Energy, Inc. | 22,456 | 167,090 | ||||||
CGI, Inc.* | 4,040 | 303,160 | ||||||
Constellation Software, Inc. | 373 | 485,466 | ||||||
Dollarama, Inc. | 4,529 | 173,254 | ||||||
Emera, Inc. | 3,343 | 132,400 | ||||||
Empire Co. Ltd., Class A | 4,313 | 120,498 | ||||||
Enbridge, Inc. | 35,358 | 1,200,385 | ||||||
Fairfax Financial Holdings Ltd. | 456 | 186,726 | ||||||
First Quantum Minerals Ltd. | 11,272 | 244,227 | ||||||
FirstService Corp. | 550 | 83,886 | ||||||
Fortis, Inc. | 8,885 | 343,890 | ||||||
Franco-Nevada Corp. | 3,565 | 383,702 | ||||||
George Weston Ltd. | 1,425 | 105,209 | ||||||
GFL Environmental, Inc. | 3,006 | 93,789 | ||||||
Gildan Activewear, Inc. | 3,818 | 116,621 | ||||||
Great-West Lifeco, Inc. | 6,691 | 172,137 | ||||||
Hydro One Ltd., 144A | 6,208 | 132,496 | ||||||
iA Financial Corp., Inc. | 1,355 | 69,987 | ||||||
Imperial Oil Ltd. | 6,464 | 142,402 | ||||||
Intact Financial Corp. | 2,868 | 322,231 | ||||||
Inter Pipeline Ltd. | 11,448 | 161,954 | ||||||
Keyera Corp. | 3,193 | 62,221 | ||||||
Kinross Gold Corp. | 23,646 | 147,741 | ||||||
Kirkland Lake Gold Ltd. | 4,468 | 146,886 | ||||||
Loblaw Cos. Ltd. | 2,725 | 132,010 | ||||||
Lululemon Athletica, Inc.* | 2,151 | 670,424 | ||||||
Lundin Mining Corp. | 10,705 | 123,200 | ||||||
Magna International, Inc. | 4,782 | 404,884 | ||||||
Manulife Financial Corp. | 37,347 | 748,415 | ||||||
Metro, Inc. | 3,823 | 159,745 | ||||||
National Bank of Canada | 6,651 | 421,125 | ||||||
Northland Power, Inc. | 2,423 | 80,862 | ||||||
Nutrien Ltd. | 10,291 | 558,364 | ||||||
Onex Corp. | 2,154 | 121,209 | ||||||
Open Text Corp. | 4,076 | 182,486 | ||||||
Pan American Silver Corp. | 3,826 | 127,080 | ||||||
Parkland Corp. | 2,849 | 91,006 | ||||||
Pembina Pipeline Corp. | 11,000 | 281,169 | ||||||
Power Corp. of Canada | 10,274 | 248,978 | ||||||
Quebecor, Inc., Class B | 2,779 | 72,219 | ||||||
Restaurant Brands International, Inc. | 5,695 | 343,364 | ||||||
Ritchie Bros Auctioneers, Inc. | 2,388 | 131,000 | ||||||
Rogers Communications, Inc., Class B | 7,129 | 310,444 | ||||||
Royal Bank of Canada | 25,318 | 2,167,029 | ||||||
Saputo, Inc. | 4,044 | 114,484 | ||||||
Shaw Communications, Inc., Class B | 9,781 | 171,129 | ||||||
Shopify, Inc., Class A* | 1,973 | 2,569,466 | ||||||
SSR Mining, Inc.* | 5,209 | 74,350 | ||||||
Sun Life Financial, Inc. | 10,196 | 493,209 |
Number | Value | |||||||
Canada (Continued) | ||||||||
Suncor Energy, Inc. | 25,680 | $ | 512,586 | |||||
TC Energy Corp. | 16,075 | 676,775 | ||||||
Teck Resources Ltd., Class B | 6,079 | 127,246 | ||||||
TELUS Corp. | 5,576 | 112,313 | ||||||
Thomson Reuters Corp. | 3,121 | 272,903 | ||||||
TMX Group Ltd. | 969 | 92,989 | ||||||
Toromont Industries Ltd. | 858 | 62,825 | ||||||
Toronto-Dominion Bank | 32,806 | 1,998,937 | ||||||
West Fraser Timber Co. Ltd. | 1,550 | 106,517 | ||||||
Wheaton Precious Metals Corp. | 7,406 | 266,288 | ||||||
WSP Global, Inc. | 1,684 | 146,612 | ||||||
Yamana Gold, Inc. | 17,918 | 71,615 | ||||||
|
| |||||||
(Cost $25,878,748) | 30,178,133 | |||||||
|
| |||||||
Chile — 0.0% | ||||||||
Antofagasta PLC | 6,920 | 172,454 | ||||||
|
| |||||||
Denmark — 0.8% | ||||||||
A.P. Moller — Maersk A/S, Class A | 69 | 139,323 | ||||||
A.P. Moller — Maersk A/S, Class B | 101 | 218,280 | ||||||
Ambu A/S, Class B | 3,325 | 154,900 | ||||||
Carlsberg A/S, Class B | 1,738 | 275,186 | ||||||
Chr Hansen Holding A/S* | 1,911 | 164,952 | ||||||
Coloplast A/S, Class B | 2,389 | 366,096 | ||||||
Danske Bank A/S* | 10,730 | 199,143 | ||||||
Demant A/S* | 1,634 | 67,721 | ||||||
DSV PANALPINA A/S | 3,537 | 653,562 | ||||||
Genmab A/S* | 1,195 | 403,779 | ||||||
GN Store Nord AS | 2,163 | 182,891 | ||||||
Novo Nordisk A/S, Class B | 30,576 | 2,185,800 | ||||||
Novozymes A/S, Class B* | 3,491 | 216,996 | ||||||
Orsted AS, 144A | 3,583 | 583,691 | ||||||
Pandora A/S | 1,840 | 180,088 | ||||||
ROCKWOOL International A/S, Class B | 144 | 52,511 | ||||||
Tryg A/S | 2,029 | 64,252 | ||||||
Vestas Wind Systems A/S | 3,582 | 675,033 | ||||||
|
| |||||||
(Cost $5,983,689) | 6,784,204 | |||||||
|
| |||||||
Finland — 0.4% | ||||||||
Elisa OYJ | 3,119 | 186,832 | ||||||
Fortum OYJ | 5,982 | 150,229 | ||||||
Kesko OYJ, Class B | 4,001 | 102,179 | ||||||
Kone OYJ, Class B* | 5,948 | 477,077 | ||||||
Neste OYJ | 7,645 | 505,362 | ||||||
Nokia OYJ* | 98,332 | 393,873 | ||||||
Nordea Bank Abp | 56,169 | 510,329 | ||||||
Orion OYJ, Class B | 1,927 | 79,456 | ||||||
Sampo OYJ, Class A | 7,771 | 347,774 | ||||||
Stora Enso OYJ, Class R | 8,826 | 174,890 | ||||||
UPM-Kymmene OYJ | 10,234 | 392,536 | ||||||
Wartsila OYJ Abp | 8,419 | 97,101 | ||||||
|
| |||||||
(Cost $3,030,310) | 3,417,638 | |||||||
|
| |||||||
France — 3.6% | ||||||||
Accor SA* | 3,324 | 139,438 | ||||||
Aeroports de Paris* | 721 | 92,066 | ||||||
Air Liquide SA | 8,562 | 1,295,952 |
See Notes to Financial Statements. | 22 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
France (Continued) | ||||||||
Airbus SE* | 10,594 | $ | 1,233,307 | |||||
Alstom SA* | 4,469 | 224,248 | ||||||
Amundi SA, 144A* | 1,438 | 109,963 | ||||||
Arkema SA | 1,088 | 120,836 | ||||||
Atos SE* | 1,912 | 149,969 | ||||||
AXA SA | 34,515 | 871,402 | ||||||
BioMerieux | 729 | 93,087 | ||||||
BNP Paribas SA* | 19,507 | 1,166,714 | ||||||
Bollore SA | 14,318 | 68,926 | ||||||
Bouygues SA | 4,519 | 184,082 | ||||||
Bureau Veritas SA* | 3,613 | 98,191 | ||||||
Capgemini SE | 3,107 | 502,146 | ||||||
Carrefour SA | 12,198 | 213,872 | ||||||
Cie de Saint-Gobain* | 9,518 | 513,182 | ||||||
Cie Generale des Etablissements Michelin SCA | 3,345 | 486,205 | ||||||
CNP Assurances* | 3,186 | 57,660 | ||||||
Covivio REIT | 1,043 | 88,177 | ||||||
Credit Agricole SA* | 18,872 | 266,063 | ||||||
Danone SA | 10,643 | 729,377 | ||||||
Dassault Systemes SE | 2,308 | 481,570 | ||||||
Edenred | 4,998 | 278,395 | ||||||
Eiffage SA* | 1,920 | 198,465 | ||||||
Electricite de France SA* | 11,290 | 135,777 | ||||||
Engie SA* | 31,811 | 466,629 | ||||||
EssilorLuxottica SA | 5,169 | 847,008 | ||||||
Faurecia SE* | 1,132 | 58,822 | ||||||
Gecina SA REIT | 854 | 118,896 | ||||||
Getlink SE* | 8,598 | 141,620 | ||||||
Hermes International | 543 | 608,475 | ||||||
Iliad SA | 283 | 50,358 | ||||||
Ipsen SA | 1,017 | 87,213 | ||||||
Kering SA | 1,354 | 862,666 | ||||||
Klepierre SA REIT (b) | 2,909 | 69,030 | ||||||
La Francaise des Jeux SAEM, 144A | 1,687 | 76,563 | ||||||
Legrand SA | 4,459 | 389,255 | ||||||
L’Oreal SA | 4,521 | 1,661,643 | ||||||
LVMH Moet Hennessy Louis Vuitton SE | 4,984 | 3,176,031 | ||||||
Natixis SA* | 17,734 | 86,877 | ||||||
Orange SA | 38,300 | 443,873 | ||||||
Orpea SA* | 1,175 | 141,880 | ||||||
Pernod Ricard SA | 3,698 | 706,287 | ||||||
Publicis Groupe SA | 3,870 | 228,012 | ||||||
Remy Cointreau SA | 218 | 41,808 | ||||||
Renault SA* | 2,380 | 107,248 | ||||||
Safran SA* | 5,621 | 772,679 | ||||||
Sanofi | 19,980 | 1,838,282 | ||||||
Sartorius Stedim Biotech | 480 | 210,910 | ||||||
Schneider Electric SE | 9,741 | 1,452,533 | ||||||
SCOR SE* | 1,837 | 61,274 | ||||||
SEB SA | 349 | 62,992 | ||||||
Societe Generale SA* | 16,000 | 398,806 | ||||||
Sodexo SA* | 1,180 | 113,466 | ||||||
Suez SA | 5,842 | 122,320 | ||||||
Teleperformance | 974 | 346,515 | ||||||
Thales SA | 2,160 | 205,655 | ||||||
TOTAL SE (b) | 45,430 | 2,116,111 |
Number | Value | |||||||
France (Continued) | ||||||||
Ubisoft Entertainment SA* | 1,182 | $ | 96,958 | |||||
Unibail-Rodamco-Westfield REIT | 1,923 | 141,962 | ||||||
Valeo SA | 3,838 | 136,217 | ||||||
Veolia Environnement SA | 11,480 | 311,435 | ||||||
Vinci SA | 9,260 | 967,072 | ||||||
Vivendi SE | 15,929 | 552,390 | ||||||
Wendel SE | 503 | 57,818 | ||||||
Worldline SA, 144A* | 4,106 | 367,809 | ||||||
|
| |||||||
(Cost $25,723,014) | 30,502,468 | |||||||
|
| |||||||
Germany — 2.8% | ||||||||
adidas AG* | 3,333 | 1,168,773 | ||||||
Allianz SE | 7,194 | 1,744,670 | ||||||
BASF SE | 15,947 | 1,311,014 | ||||||
Bayer AG | 17,363 | 1,056,290 | ||||||
Bayerische Motoren Werke AG | 6,001 | 520,807 | ||||||
Bechtle AG | 453 | 85,942 | ||||||
Beiersdorf AG | 1,920 | 190,868 | ||||||
Brenntag SE | 3,119 | 243,278 | ||||||
Carl Zeiss Meditec AG | 957 | 144,388 | ||||||
Commerzbank AG* | 18,609 | 122,651 | ||||||
Continental AG | 2,160 | 311,733 | ||||||
Covestro AG, 144A | 3,334 | 242,647 | ||||||
Daimler AG | 14,985 | 1,205,008 | ||||||
Delivery Hero SE, 144A* | 2,160 | 277,125 | ||||||
Deutsche Bank AG*(c) | 35,434 | 439,303 | ||||||
Deutsche Boerse AG | 3,583 | 589,513 | ||||||
Deutsche Lufthansa AG* | 4,587 | 68,399 | ||||||
Deutsche Post AG | 17,704 | 882,344 | ||||||
Deutsche Telekom AG | 59,143 | 1,078,971 | ||||||
Deutsche Wohnen SE | 5,239 | 247,687 | ||||||
E.ON SE | 37,111 | 380,633 | ||||||
Evonik Industries AG | 2,595 | 87,848 | ||||||
Fresenius Medical Care AG & Co. KGaA | 3,346 | 232,961 | ||||||
Fresenius SE & Co. KGaA | 8,083 | 347,707 | ||||||
GEA Group AG | 3,575 | 124,192 | ||||||
Hannover Rueck SE | 1,200 | 204,356 | ||||||
HeidelbergCement AG | 2,654 | 210,939 | ||||||
HelloFresh SE* | 2,671 | 209,113 | ||||||
Henkel AG & Co. KGaA | 1,672 | 148,964 | ||||||
Infineon Technologies AG | 23,076 | 1,008,348 | ||||||
KION Group AG | 1,712 | 145,337 | ||||||
Knorr-Bremse AG | 966 | 123,749 | ||||||
LANXESS AG | 1,924 | 143,204 | ||||||
LEG Immobilien AG | 1,412 | 193,909 | ||||||
Merck KGaA | 2,219 | 362,400 | ||||||
MTU Aero Engines AG | 962 | 230,032 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 2,392 | 705,529 | ||||||
Nemetschek SE | 1,423 | 90,076 | ||||||
Puma SE* | 1,783 | 190,407 | ||||||
Rational AG | 80 | 68,847 | ||||||
RWE AG | 11,212 | 426,510 | ||||||
SAP SE | 18,518 | 2,294,019 | ||||||
Scout24 AG, 144A | 1,896 | 143,720 | ||||||
Siemens AG | 13,782 | 2,140,926 | ||||||
Siemens Energy AG* | 6,919 | 262,447 |
See Notes to Financial Statements. | 23 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Germany (Continued) | ||||||||
Siemens Healthineers AG, 144A | 4,998 | $ | 278,031 | |||||
Symrise AG | 2,390 | 280,583 | ||||||
TeamViewer AG, 144A* | 2,381 | 128,608 | ||||||
Telefonica Deutschland Holding AG | 17,923 | 48,078 | ||||||
Uniper SE | 4,042 | 142,279 | ||||||
United Internet AG | 2,394 | 106,005 | ||||||
Volkswagen AG | 705 | 165,755 | ||||||
Vonovia SE | 9,757 | 624,603 | ||||||
Zalando SE, 144A* | 2,387 | 246,332 | ||||||
|
| |||||||
(Cost $22,130,033) | 24,427,858 | |||||||
|
| |||||||
Hong Kong — 1.1% | ||||||||
AIA Group Ltd. | 213,533 | 2,671,451 | ||||||
ASM Pacific Technology Ltd. | 6,540 | 90,967 | ||||||
Bank of East Asia Ltd. | 17,205 | 40,632 | ||||||
BOC Hong Kong Holdings Ltd. | 59,365 | 197,441 | ||||||
Budweiser Brewing Co. APAC Ltd., 144A | 34,364 | 104,988 | ||||||
CK Asset Holdings Ltd. | 43,094 | 253,041 | ||||||
CK Hutchison Holdings Ltd. | 45,945 | 347,074 | ||||||
CK Infrastructure Holdings Ltd. | 17,699 | 102,557 | ||||||
CLP Holdings Ltd. | 27,954 | 272,609 | ||||||
ESR Cayman Ltd., 144A* | 24,400 | 77,220 | ||||||
Galaxy Entertainment Group Ltd. | 35,128 | 321,060 | ||||||
Hang Lung Properties Ltd. | 47,395 | 122,805 | ||||||
Hang Seng Bank Ltd. | 11,800 | 228,171 | ||||||
Henderson Land Development Co. Ltd. | 29,643 | 128,777 | ||||||
HKT Trust & HKT Ltd. (a) | 53,922 | 73,264 | ||||||
Hong Kong & China Gas Co. Ltd. | 162,430 | 244,984 | ||||||
Hong Kong Exchanges & Clearing Ltd. | 21,580 | 1,316,385 | ||||||
Hongkong Land Holdings Ltd. | 24,100 | 116,162 | ||||||
Jardine Matheson Holdings Ltd. | 4,051 | 211,948 | ||||||
Jardine Strategic Holdings Ltd. | 3,063 | 79,270 | ||||||
Link REIT | 41,498 | 391,584 | ||||||
Melco Resorts & Entertainment Ltd., ADR* | 4,171 | 90,344 | ||||||
MTR Corp. Ltd. | 29,240 | 175,462 | ||||||
New World Development Co. Ltd. | 28,061 | 142,704 | ||||||
PCCW Ltd. | 64,927 | 37,245 | ||||||
Power Assets Holdings Ltd. | 19,337 | 107,437 | ||||||
Sino Land Co. Ltd. | 86,589 | 131,044 | ||||||
Sun Hung Kai Properties Ltd. | 24,652 | 395,965 | ||||||
Swire Pacific Ltd., Class A | 10,366 | 75,968 | ||||||
Swire Properties Ltd. | 22,403 | 72,055 | ||||||
Techtronic Industries Co. Ltd. | 26,777 | 408,696 | ||||||
WH Group Ltd., 144A | 155,906 | 139,881 | ||||||
Wharf Real Estate Investment Co. Ltd. | 23,743 | 141,864 | ||||||
Xinyi Glass Holdings Ltd. | 28,499 | 79,722 | ||||||
|
| |||||||
(Cost $7,825,380) | 9,390,777 | |||||||
|
| |||||||
Ireland — 1.2% | ||||||||
Accenture PLC, Class A | 11,269 | 2,827,392 | ||||||
Allegion PLC | 1,326 | 144,242 | ||||||
Aptiv PLC* | 4,866 | 729,121 | ||||||
CRH PLC | 14,260 | 619,655 | ||||||
DCC PLC | 1,678 | 135,365 | ||||||
Experian PLC | 17,364 | 551,808 | ||||||
Flutter Entertainment PLC* | 2,390 | 462,562 |
Number | Value | |||||||
Ireland (Continued) | ||||||||
Flutter Entertainment PLC* | 489 | $ | 94,483 | |||||
James Hardie Industries PLC CDI | 7,412 | 209,508 | ||||||
Jazz Pharmaceuticals PLC*(b) | 961 | 161,487 | ||||||
Kerry Group PLC, Class A | 3,107 | 376,939 | ||||||
Kingspan Group PLC* | 2,390 | 174,784 | ||||||
Medtronic PLC | 23,776 | 2,781,079 | ||||||
Smurfit Kappa Group PLC | 3,572 | 169,786 | ||||||
Trane Technologies PLC | 4,293 | 657,859 | ||||||
|
| |||||||
(Cost $8,883,956) | 10,096,070 | |||||||
|
| |||||||
Isle of Man — 0.0% | ||||||||
GVC Holdings PLC* | 10,491 | 207,251 | ||||||
|
| |||||||
Israel — 0.2% | ||||||||
Azrieli Group Ltd. | 846 | 51,485 | ||||||
Bank Hapoalim BM* | 17,029 | 120,802 | ||||||
Bank Leumi Le-Israel BM | 24,217 | 148,035 | ||||||
Check Point Software Technologies Ltd.* | 1,927 | 212,432 | ||||||
CyberArk Software Ltd.* | 967 | 141,985 | ||||||
Elbit Systems Ltd. | 720 | 93,611 | ||||||
ICL Group Ltd. | 12,675 | 73,539 | ||||||
Israel Discount Bank Ltd., Class A | 20,636 | 76,683 | ||||||
Mizrahi Tefahot Bank Ltd. | 3,072 | 73,594 | ||||||
Nice Ltd.* | 1,183 | 275,046 | ||||||
SolarEdge Technologies, Inc.*(b) | 881 | 262,811 | ||||||
Teva Pharmaceutical Industries Ltd., ADR* | 20,294 | 218,363 | ||||||
Wix.com Ltd.* | 959 | 334,279 | ||||||
|
| |||||||
(Cost $1,769,328) | 2,082,665 | |||||||
|
| |||||||
Italy — 0.7% | ||||||||
Amplifon SpA* | 2,057 | 82,394 | ||||||
Assicurazioni Generali SpA | 18,551 | 350,143 | ||||||
Atlantia SpA* | 7,165 | 135,019 | ||||||
Davide Campari-Milano NV | 13,357 | 152,043 | ||||||
DiaSorin SpA | 481 | 94,815 | ||||||
Enel SpA | 147,803 | 1,407,240 | ||||||
Eni SpA | 44,432 | 511,379 | ||||||
Ferrari NV | 2,389 | 468,313 | ||||||
FinecoBank Banca Fineco SpA* | 8,839 | 156,318 | ||||||
Infrastrutture Wireless Italiane SpA, 144A | 4,805 | 50,245 | ||||||
Intesa Sanpaolo SpA* | 292,670 | 758,089 | ||||||
Mediobanca Banca di Credito Finanziario SpA* | 15,999 | 167,358 | ||||||
Moncler SpA* | 3,573 | 222,484 | ||||||
Nexi SpA, 144A* | 6,458 | 116,679 | ||||||
Poste Italiane SpA, 144A | 12,164 | 138,847 | ||||||
Prysmian SpA | 5,016 | 162,500 | ||||||
Recordati Industria Chimica e Farmaceutica SpA | 2,156 | 110,279 | ||||||
Snam SpA | 42,741 | 222,873 | ||||||
Telecom Italia SpA | 163,353 | 77,903 | ||||||
Terna Rete Elettrica Nazionale SpA | 21,491 | 150,463 | ||||||
UniCredit SpA* | 39,640 | 410,903 | ||||||
|
| |||||||
(Cost $5,145,671) | 5,946,287 | |||||||
|
|
See Notes to Financial Statements. | 24 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Jersey Island — 0.0% | ||||||||
Novocure Ltd.*(b) | 1,466 | $ | 218,581 | |||||
|
| |||||||
Jordan — 0.0% | ||||||||
Hikma Pharmaceuticals PLC | 3,329 | 104,070 | ||||||
|
| |||||||
Luxembourg — 0.1% | ||||||||
ArcelorMittal SA* | 12,661 | 297,493 | ||||||
Aroundtown SA | 17,913 | 130,761 | ||||||
Eurofins Scientific SE* | 2,400 | 214,522 | ||||||
SES SA | 6,472 | 51,974 | ||||||
Tenaris SA | 8,259 | 86,674 | ||||||
|
| |||||||
(Cost $564,214) | 781,424 | |||||||
|
| |||||||
Macau — 0.0% | ||||||||
Sands China Ltd.* | 43,792 | 204,922 | ||||||
Wynn Macau Ltd.* | 54,475 | 102,807 | ||||||
|
| |||||||
(Cost $283,784) | 307,729 | |||||||
|
| |||||||
Mexico — 0.0% | ||||||||
Fresnillo PLC | 2,987 | 38,003 | ||||||
|
| |||||||
Netherlands — 1.9% | ||||||||
ABN AMRO Bank NV, 144A* | 4,832 | 55,836 | ||||||
Adyen NV, 144A* | 314 | 730,252 | ||||||
Aegon NV | 39,598 | 190,141 | ||||||
Akzo Nobel NV | 3,112 | 323,190 | ||||||
Argenx SE* | 661 | 222,725 | ||||||
ASM International NV | 852 | 231,238 | ||||||
ASML Holding NV | 7,609 | 4,297,884 | ||||||
EXOR NV | 2,141 | 172,817 | ||||||
Heineken Holding NV | 2,399 | 207,328 | ||||||
Heineken NV | 4,640 | 460,137 | ||||||
ING Groep NV | 70,952 | 778,453 | ||||||
JDE Peet’s NV* | 1,245 | 50,851 | ||||||
Just Eat Takeaway.com NV, 144A* | 2,390 | 231,731 | ||||||
Koninklijke Ahold Delhaize NV | 19,060 | 505,269 | ||||||
Koninklijke DSM NV | 2,864 | 474,692 | ||||||
Koninklijke KPN NV | 62,408 | 205,133 | ||||||
Koninklijke Philips NV* | 15,936 | 869,570 | ||||||
Koninklijke Vopak NV | 629 | 30,165 | ||||||
NN Group NV | 5,253 | 243,567 | ||||||
NXP Semiconductors NV | 5,089 | 928,997 | ||||||
Prosus NV* | 9,032 | 1,075,036 | ||||||
QIAGEN NV* | 4,758 | 236,786 | ||||||
Randstad NV* | 2,398 | 161,078 | ||||||
Royal Dutch Shell PLC, Class A | 74,600 | 1,506,902 | ||||||
Royal Dutch Shell PLC, Class B | 62,596 | 1,214,365 | ||||||
Stellantis NV | 37,906 | 618,103 | ||||||
Wolters Kluwer NV | 4,523 | 360,584 | ||||||
|
| |||||||
(Cost $12,297,685) | 16,382,830 | |||||||
|
| |||||||
New Zealand — 0.1% | ||||||||
a2 Milk Co. Ltd.* | 11,925 | 84,019 | ||||||
Auckland International Airport Ltd.* | 26,513 | 145,546 | ||||||
Fisher & Paykel Healthcare Corp. Ltd. | 9,092 | 193,366 | ||||||
Meridian Energy Ltd. | 33,363 | 138,272 |
Number | Value | |||||||
New Zealand (Continued) | ||||||||
Ryman Healthcare Ltd. | 5,974 | $ | 63,635 | |||||
Spark New Zealand Ltd. | 35,588 | 118,771 | ||||||
Xero Ltd.* | 1,997 | 183,102 | ||||||
|
| |||||||
(Cost $939,938) | 926,711 | |||||||
|
| |||||||
Norway — 0.2% | ||||||||
Adevinta ASA* | 6,467 | 90,938 | ||||||
DNB ASA | 15,987 | 313,076 | ||||||
Equinor ASA | 16,471 | 312,226 | ||||||
Gjensidige Forsikring ASA | 3,002 | 69,368 | ||||||
Mowi ASA | 7,150 | 173,852 | ||||||
Norsk Hydro ASA | 27,458 | 153,040 | ||||||
Orkla ASA | 14,563 | 135,044 | ||||||
Schibsted ASA, Class A* | 1,415 | 57,622 | ||||||
Schibsted ASA, Class B* | 1,632 | 56,434 | ||||||
Telenor ASA | 13,135 | 213,756 | ||||||
Yara International ASA | 2,390 | 115,615 | ||||||
|
| |||||||
(Cost $1,440,204) | 1,690,971 | |||||||
|
| |||||||
Portugal — 0.0% | ||||||||
EDP — Energias de Portugal SA | 54,148 | 311,930 | ||||||
Galp Energia SGPS SA | 6,442 | 72,595 | ||||||
Jeronimo Martins SGPS SA | 2,362 | 36,841 | ||||||
|
| |||||||
(Cost $370,617) | 421,366 | |||||||
|
| |||||||
Singapore — 0.4% | ||||||||
Ascendas Real Estate Investment Trust REIT | 50,279 | 111,168 | ||||||
CapitaLand Integrated Commercial Trust REIT | 90,004 | 142,144 | ||||||
CapitaLand Ltd. | 53,302 | 127,473 | ||||||
City Developments Ltd. | 9,000 | 49,816 | ||||||
DBS Group Holdings Ltd. | 33,464 | 670,438 | ||||||
Genting Singapore Ltd. | 47,000 | 30,221 | ||||||
Keppel Corp. Ltd. | 24,300 | 92,836 | ||||||
Mapletree Commercial Trust REIT | 39,800 | 61,060 | ||||||
Mapletree Logistics Trust REIT | 73,764 | 102,627 | ||||||
Oversea-Chinese Banking Corp. Ltd. | 56,651 | 468,222 | ||||||
Singapore Airlines Ltd.* | 25,450 | 95,315 | ||||||
Singapore Exchange Ltd. | 13,931 | 104,663 | ||||||
Singapore Technologies Engineering Ltd. | 25,602 | 72,395 | ||||||
Singapore Telecommunications Ltd. | 167,200 | 295,495 | ||||||
United Overseas Bank Ltd. | 21,401 | 397,215 | ||||||
UOL Group Ltd. | 8,501 | 47,245 | ||||||
Venture Corp. Ltd. | 4,056 | 58,566 | ||||||
Wilmar International Ltd. | 45,800 | 181,864 | ||||||
|
| |||||||
(Cost $2,574,511) | 3,108,763 | |||||||
|
| |||||||
Spain — 0.8% | ||||||||
ACS Actividades de Construccion y Servicios SA | 5,053 | 155,419 | ||||||
Aena SME SA, 144A* | 1,201 | 205,400 | ||||||
Amadeus IT Group SA* | 8,323 | 580,892 | ||||||
Banco Bilbao Vizcaya Argentaria SA | 120,495 | 673,220 | ||||||
Banco Santander SA* | 309,100 | 1,087,101 | ||||||
CaixaBank SA | 63,203 | 184,655 | ||||||
Cellnex Telecom SA, 144A* | 6,178 | 337,824 |
See Notes to Financial Statements. | 25 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Spain (Continued) | ||||||||
Enagas SA | 4,533 | $ | 95,545 | |||||
Endesa SA | 5,565 | 138,811 | ||||||
Ferrovial SA | 9,666 | 242,161 | ||||||
Grifols SA | 5,958 | 150,567 | ||||||
Iberdrola SA | 108,239 | 1,369,642 | ||||||
Industria de Diseno Textil SA | 19,120 | 633,807 | ||||||
Naturgy Energy Group SA | 5,737 | 144,216 | ||||||
Red Electrica Corp. SA | 6,808 | 114,574 | ||||||
Repsol SA | 26,116 | 330,151 | ||||||
Siemens Gamesa Renewable Energy SA | 3,345 | 125,053 | ||||||
Telefonica SA | 84,223 | 360,463 | ||||||
|
| |||||||
(Cost $5,699,346) | 6,929,501 | |||||||
|
| |||||||
Sweden — 1.1% | ||||||||
Alfa Laval AB* | 4,048 | 125,920 | ||||||
Assa Abloy AB, Class B | 17,205 | 433,602 | ||||||
Atlas Copco AB, Class A | 10,922 | 626,837 | ||||||
Atlas Copco AB, Class B | 8,322 | 405,594 | ||||||
Autoliv, Inc.* | 1,651 | 148,590 | ||||||
Boliden AB | 5,487 | 218,498 | ||||||
Electrolux AB, Series B | 5,974 | 141,845 | ||||||
Epiroc AB, Class A | 11,969 | 255,336 | ||||||
Epiroc AB, Class B | 7,815 | 154,624 | ||||||
EQT AB | 4,167 | 116,823 | ||||||
Essity AB, Class B | 9,247 | 279,388 | ||||||
Evolution Gaming Group AB, 144A | 2,928 | 366,518 | ||||||
Fastighets AB Balder, Class B* | 1,372 | 66,117 | ||||||
Hennes & Mauritz AB, Class B* | 15,690 | 371,699 | ||||||
Hexagon AB, Class B | 4,781 | 400,461 | ||||||
Husqvarna AB, Class B | 10,653 | 131,005 | ||||||
ICA Gruppen AB (b) | 1,661 | 79,272 | ||||||
Industrivarden AB, Class C* | 4,277 | 142,005 | ||||||
Investment AB Latour, Class B | 2,236 | 51,188 | ||||||
Investor AB, Class B | 8,088 | 601,586 | ||||||
Kinnevik AB, Class B* | 4,312 | 201,430 | ||||||
L E Lundbergforetagen AB, Class B* | 1,093 | 54,675 | ||||||
Lundin Energy AB | 4,309 | 140,092 | ||||||
Nibe Industrier AB, Class B | 5,481 | 173,106 | ||||||
Sandvik AB* | 21,653 | 584,366 | ||||||
Securitas AB, Class B | 3,564 | 54,923 | ||||||
Skandinaviska Enskilda Banken AB, Class A* | 29,985 | 346,894 | ||||||
Skanska AB, Class B | 4,770 | 116,296 | ||||||
SKF AB, Class B | 5,506 | 150,823 | ||||||
Svenska Cellulosa AB SCA, Class B* | 10,018 | 173,226 | ||||||
Svenska Handelsbanken AB, Class A* | 29,865 | 316,494 | ||||||
Swedbank AB, Class A | 16,140 | 284,406 | ||||||
Swedish Match AB | 2,882 | 208,325 | ||||||
Tele2 AB, Class B | 13,116 | 166,368 | ||||||
Telefonaktiebolaget LM Ericsson, Class B | 52,951 | 664,401 | ||||||
Telia Co. AB | 43,747 | 177,642 | ||||||
Volvo AB, Class B* | 24,255 | 624,559 | ||||||
|
| |||||||
(Cost $7,819,466) | 9,554,934 | |||||||
|
|
Number | Value | |||||||
Switzerland — 3.5% | ||||||||
ABB Ltd. | 32,239 | $ | 930,170 | |||||
Adecco Group AG | 2,404 | 151,574 | ||||||
Alcon, Inc.* | 8,323 | 574,970 | ||||||
Baloise Holding AG | 801 | 140,593 | ||||||
Banque Cantonale Vaudoise | 534 | 56,273 | ||||||
Barry Callebaut AG | 53 | 115,215 | ||||||
Chocoladefabriken Lindt & Spruengli AG | 1 | 88,921 | ||||||
Chocoladefabriken Lindt & Spruengli AG Participation Certificates | 18 | 151,607 | ||||||
Chubb Ltd. | 8,067 | 1,311,533 | ||||||
Cie Financiere Richemont SA, Class A | 9,511 | 920,108 | ||||||
Clariant AG | 2,818 | 59,174 | ||||||
Coca-Cola HBC AG* | 4,302 | 134,607 | ||||||
Credit Suisse Group AG | 45,358 | 657,598 | ||||||
EMS-Chemie Holding AG | 159 | 141,384 | ||||||
Garmin Ltd. | 2,399 | 297,524 | ||||||
Geberit AG | 717 | 424,672 | ||||||
Givaudan SA | 173 | 654,889 | ||||||
Glencore PLC* | 178,658 | 726,116 | ||||||
Julius Baer Group Ltd. | 4,519 | 278,538 | ||||||
Kuehne + Nagel International AG | 1,001 | 238,502 | ||||||
LafargeHolcim Ltd.* | 9,757 | 540,607 | ||||||
Logitech International SA | 2,860 | 306,503 | ||||||
Lonza Group AG | 1,395 | 884,183 | ||||||
Nestle SA | 51,211 | 5,373,959 | ||||||
Novartis AG | 39,391 | 3,402,168 | ||||||
Partners Group Holding AG | 353 | 425,214 | ||||||
Roche Holding AG | 12,485 | 4,109,031 | ||||||
Schindler Holding AG | 471 | 126,009 | ||||||
Schindler Holding AG Participation Certificates | 721 | 197,672 | ||||||
SGS SA | 99 | 283,779 | ||||||
Sika AG | 2,390 | 634,130 | ||||||
Sonova Holding AG* | 962 | 247,380 | ||||||
STMicroelectronics NV | 11,814 | 458,445 | ||||||
Straumann Holding AG | 192 | 233,081 | ||||||
Swatch Group AG — Bearer | 476 | 142,595 | ||||||
Swiss Life Holding AG | 481 | 240,314 | ||||||
Swiss Prime Site AG | 1,190 | 111,862 | ||||||
Swiss Re AG | 5,190 | 489,819 | ||||||
Swisscom AG | 478 | 241,033 | ||||||
TE Connectivity Ltd. | 5,931 | 771,208 | ||||||
Temenos AG | 1,479 | 200,538 | ||||||
UBS Group AG | 65,135 | 1,014,474 | ||||||
Vifor Pharma AG | 696 | 86,952 | ||||||
Zurich Insurance Group AG | 2,614 | 1,072,684 | ||||||
|
| |||||||
(Cost $28,073,067) | 29,647,608 | |||||||
|
| |||||||
United Kingdom — 4.6% | ||||||||
3i Group PLC | 19,333 | 299,216 | ||||||
Admiral Group PLC | 3,571 | 154,172 | ||||||
Amcor PLC | 28,469 | 311,451 | ||||||
Anglo American PLC | 22,062 | 855,175 | ||||||
Ashtead Group PLC | 7,284 | 395,130 | ||||||
Associated British Foods PLC* | 7,158 | 236,980 | ||||||
AstraZeneca PLC | 23,085 | 2,241,510 | ||||||
Auto Trader Group PLC, 144A* | 17,864 | 137,416 |
See Notes to Financial Statements. | 26 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
United Kingdom (Continued) | ||||||||
AVEVA Group PLC | 1,727 | $ | 81,973 | |||||
Aviva PLC | 77,002 | 389,609 | ||||||
BAE Systems PLC | 61,361 | 415,132 | ||||||
Barclays PLC | 312,490 | 697,280 | ||||||
Barratt Developments PLC* | 16,471 | 152,999 | ||||||
Berkeley Group Holdings PLC | 2,089 | 118,373 | ||||||
BP PLC | 358,306 | 1,461,515 | ||||||
British American Tobacco PLC | 40,189 | 1,396,560 | ||||||
British Land Co. PLC REIT | 15,755 | 107,845 | ||||||
BT Group PLC* | 168,085 | 290,342 | ||||||
Bunzl PLC | 6,678 | 208,858 | ||||||
Burberry Group PLC* | 6,195 | 157,245 | ||||||
CNH Industrial NV* | 16,521 | 245,451 | ||||||
Coca-Cola European Partners PLC | 3,448 | 175,676 | ||||||
Compass Group PLC* | 30,452 | 619,466 | ||||||
Croda International PLC | 2,385 | 205,670 | ||||||
Diageo PLC | 41,824 | 1,644,586 | ||||||
Direct Line Insurance Group PLC | 30,101 | 134,922 | ||||||
Evraz PLC | 8,962 | 71,545 | ||||||
Ferguson PLC | 3,822 | 450,567 | ||||||
GlaxoSmithKline PLC | 88,165 | 1,467,822 | ||||||
Halma PLC | 8,118 | 257,300 | ||||||
Hargreaves Lansdown PLC | 5,964 | 125,950 | ||||||
HSBC Holdings PLC* | 363,538 | 2,166,216 | ||||||
IHS Markit Ltd. | 6,783 | 611,555 | ||||||
Imperial Brands PLC | 18,243 | 339,989 | ||||||
Informa PLC* | 22,410 | 172,574 | ||||||
InterContinental Hotels Group PLC* | 3,358 | 234,835 | ||||||
Intertek Group PLC | 3,120 | 233,633 | ||||||
J Sainsbury PLC | 31,381 | 99,243 | ||||||
JD Sports Fashion PLC* | 11,078 | 128,614 | ||||||
Johnson Matthey PLC | 4,049 | 172,941 | ||||||
Kingfisher PLC* | 29,906 | 110,968 | ||||||
Land Securities Group PLC REIT | 8,851 | 82,291 | ||||||
Legal & General Group PLC | 117,169 | 424,770 | ||||||
Liberty Global PLC, Class A* | 1,549 | 38,144 | ||||||
Liberty Global PLC, Class C* | 8,357 | 203,075 | ||||||
Linde PLC | 9,260 | 2,261,940 | ||||||
Lloyds Banking Group PLC* | 1,273,645 | 694,467 | ||||||
London Stock Exchange Group PLC | 5,387 | 724,386 | ||||||
M&G PLC | 48,733 | 125,298 | ||||||
Melrose Industries PLC* | 82,777 | 191,997 | ||||||
Mondi PLC | 9,557 | 230,422 | ||||||
National Grid PLC | 61,714 | 695,781 | ||||||
Natwest Group PLC* | 86,070 | 221,656 | ||||||
Next PLC* | 2,387 | 252,297 | ||||||
Ocado Group PLC* | 8,801 | 270,703 | ||||||
Pearson PLC | 13,869 | 145,621 | ||||||
Pentair PLC | 2,853 | 159,568 | ||||||
Persimmon PLC | 5,484 | 198,580 | ||||||
Phoenix Group Holdings PLC | 7,966 | 79,075 | ||||||
Prudential PLC | 45,429 | 894,599 | ||||||
Reckitt Benckiser Group PLC | 12,598 | 1,056,796 | ||||||
RELX PLC | 33,065 | 782,412 | ||||||
Rentokil Initial PLC* | 36,542 | 238,434 | ||||||
Rio Tinto PLC | 19,881 | 1,719,716 | ||||||
Rolls-Royce Holdings PLC* | 150,777 | 227,033 |
Number | Value | |||||||
United Kingdom (Continued) | ||||||||
RSA Insurance Group PLC | 14,357 | $ | 135,570 | |||||
Sage Group PLC | 15,787 | 123,293 | ||||||
Schroders PLC | 2,860 | 140,070 | ||||||
Segro PLC REIT | 23,471 | 298,549 | ||||||
Severn Trent PLC | 2,855 | 87,416 | ||||||
Smith & Nephew PLC | 17,124 | 331,704 | ||||||
Smiths Group PLC | 7,877 | 161,228 | ||||||
Spirax-Sarco Engineering PLC | 1,146 | 171,598 | ||||||
SSE PLC | 19,980 | 369,987 | ||||||
St James’s Place PLC | 9,564 | 156,981 | ||||||
Standard Chartered PLC* | 52,300 | 337,891 | ||||||
Standard Life Aberdeen PLC | 29,307 | 127,348 | ||||||
Taylor Wimpey PLC* | 56,122 | 123,660 | ||||||
Tesco PLC | 128,370 | 403,458 | ||||||
Unilever PLC | 47,269 | 2,467,021 | ||||||
United Utilities Group PLC | 11,378 | 136,678 | ||||||
Vodafone Group PLC | 479,217 | 817,526 | ||||||
Whitbread PLC* | 3,637 | 172,632 | ||||||
Willis Towers Watson PLC | 2,370 | 522,917 | ||||||
Wm Morrison Supermarkets PLC | 33,048 | 78,940 | ||||||
WPP PLC | 25,065 | 299,200 | ||||||
|
| |||||||
(Cost $34,648,871) | 39,161,032 | |||||||
|
| |||||||
United States — 69.4% | ||||||||
10X Genomics, Inc., Class A* | 1,001 | 178,168 | ||||||
3M Co. | 10,234 | 1,791,564 | ||||||
A O Smith Corp. | 2,380 | 141,301 | ||||||
Abbott Laboratories | 31,618 | 3,787,204 | ||||||
AbbVie, Inc. | 31,333 | 3,375,817 | ||||||
ABIOMED, Inc.* | 721 | 234,001 | ||||||
Activision Blizzard, Inc. | 13,563 | 1,296,758 | ||||||
Adobe, Inc.* | 8,545 | 3,927,880 | ||||||
Advance Auto Parts, Inc. | 1,440 | 230,904 | ||||||
Advanced Micro Devices, Inc.* | 21,363 | 1,805,387 | ||||||
AES Corp. | 11,951 | 317,419 | ||||||
Aflac, Inc. | 11,581 | 554,614 | ||||||
Agilent Technologies, Inc. | 5,695 | 695,189 | ||||||
AGNC Investment Corp. REIT | 12,583 | 201,705 | ||||||
Air Products and Chemicals, Inc. | 3,799 | 971,100 | ||||||
Airbnb, Inc., Class A* | 1,045 | 215,636 | ||||||
Akamai Technologies, Inc.* | 3,107 | 293,611 | ||||||
Albemarle Corp. | 1,679 | 263,956 | ||||||
Alexandria Real Estate Equities, Inc. REIT | 2,389 | 381,499 | ||||||
Alexion Pharmaceuticals, Inc.* | 3,524 | 538,291 | ||||||
Align Technology, Inc.* | 1,347 | 763,897 | ||||||
Alleghany Corp. | 241 | 155,790 | ||||||
Alliant Energy Corp. | 4,519 | 208,597 | ||||||
Allstate Corp. | 5,691 | 606,661 | ||||||
Ally Financial, Inc. | 5,476 | 227,254 | ||||||
Alnylam Pharmaceuticals, Inc.* | 2,151 | 318,563 | ||||||
Alphabet, Inc., Class A* | 5,334 | 10,784,868 | ||||||
Alphabet, Inc., Class C* | 5,285 | 10,764,805 | ||||||
Altice USA, Inc., Class A* | 5,726 | 192,451 | ||||||
Altria Group, Inc. | 33,217 | 1,448,261 | ||||||
Amazon.com, Inc.* | 7,577 | 23,435,131 | ||||||
AMERCO | 137 | 78,737 | ||||||
Ameren Corp. | 4,738 | 332,939 |
See Notes to Financial Statements. | 27 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
United States (Continued) | ||||||||
American Electric Power Co., Inc. | 8,494 | $ | 635,776 | |||||
American Express Co. | 11,876 | 1,606,348 | ||||||
American Financial Group, Inc. | 1,686 | 179,896 | ||||||
American International Group, Inc. | 14,977 | 658,239 | ||||||
American Tower Corp. REIT | 7,857 | 1,698,133 | ||||||
American Water Works Co., Inc. | 3,345 | 474,589 | ||||||
Ameriprise Financial, Inc. | 2,156 | 476,993 | ||||||
AmerisourceBergen Corp. | 3,106 | 314,389 | ||||||
AMETEK, Inc. | 3,952 | 466,217 | ||||||
Amgen, Inc. | 10,477 | 2,356,487 | ||||||
Amphenol Corp., Class A | 5,592 | 702,803 | ||||||
Analog Devices, Inc. | 6,650 | 1,036,203 | ||||||
Annaly Capital Management, Inc. REIT | 25,332 | 210,509 | ||||||
ANSYS, Inc.* | 1,672 | 570,135 | ||||||
Anthem, Inc. | 4,523 | 1,371,328 | ||||||
Aon PLC, Class A (b) | 4,058 | 924,047 | ||||||
Apollo Global Management, Inc. | 3,100 | 153,326 | ||||||
Apple, Inc. | 301,941 | 36,613,366 | ||||||
Applied Materials, Inc. | 16,158 | 1,909,714 | ||||||
Aramark | 3,837 | 142,429 | ||||||
Archer-Daniels-Midland Co. | 10,235 | 579,096 | ||||||
Arista Networks, Inc.* | 961 | 268,926 | ||||||
Arrow Electronics, Inc.* | 1,443 | 144,675 | ||||||
Arthur J Gallagher & Co. | 3,582 | 429,124 | ||||||
Assurant, Inc. | 963 | 118,661 | ||||||
AT&T, Inc. | 125,110 | 3,489,318 | ||||||
Atmos Energy Corp. | 1,913 | 161,859 | ||||||
Autodesk, Inc.* | 3,984 | 1,099,584 | ||||||
Automatic Data Processing, Inc. | 7,593 | 1,321,334 | ||||||
AutoZone, Inc.* | 400 | 463,968 | ||||||
Avalara, Inc.* | 1,195 | 187,543 | ||||||
AvalonBay Communities, Inc. REIT | 2,629 | 462,047 | ||||||
Avantor, Inc.* | 8,643 | 240,880 | ||||||
Avery Dennison Corp. | 1,680 | 294,353 | ||||||
Axalta Coating Systems Ltd.* | 4,763 | 130,220 | ||||||
Baker Hughes Co. | 10,495 | 256,918 | ||||||
Ball Corp. | 6,172 | 527,027 | ||||||
Bank of America Corp. | 137,282 | 4,765,058 | ||||||
Bank of New York Mellon Corp. | 13,554 | 571,437 | ||||||
Bausch Health Cos., Inc.* | 4,549 | 143,908 | ||||||
Baxter International, Inc. | 8,801 | 683,750 | ||||||
Becton Dickinson and Co. | 5,238 | 1,263,144 | ||||||
Berkshire Hathaway, Inc., Class B* | 24,224 | 5,826,114 | ||||||
Best Buy Co., Inc. | 4,053 | 406,719 | ||||||
Biogen, Inc.* | 2,768 | 755,332 | ||||||
BioMarin Pharmaceutical, Inc.* | 3,344 | 258,926 | ||||||
Bio-Rad Laboratories, Inc., Class A* | 367 | 214,511 | ||||||
Black Knight, Inc.* | 3,106 | 238,199 | ||||||
BlackRock, Inc. | 2,744 | 1,905,708 | ||||||
Blackstone Group, Inc., Class A | 11,645 | 806,183 | ||||||
Boeing Co.* | 9,501 | 2,014,307 | ||||||
Booking Holdings, Inc.* | 718 | 1,671,870 | ||||||
Booz Allen Hamilton Holding Corp. | 2,640 | 203,650 | ||||||
BorgWarner, Inc. | 3,583 | 161,235 | ||||||
Boston Properties, Inc. REIT | 2,393 | 237,218 | ||||||
Boston Scientific Corp.* | 25,197 | 977,140 | ||||||
Bristol-Myers Squibb Co. | 40,354 | 2,474,911 |
Number | Value | |||||||
United States (Continued) | ||||||||
Broadcom, Inc. | 7,144 | $ | 3,356,751 | |||||
Broadridge Financial Solutions, Inc. | 2,150 | 306,353 | ||||||
Brookfield Renewable Corp., Class A | 1,462 | 68,053 | ||||||
Brown & Brown, Inc. | 4,998 | 229,408 | ||||||
Brown-Forman Corp., Class B | 5,695 | 407,648 | ||||||
Bunge Ltd. | 2,854 | 218,559 | ||||||
Burlington Stores, Inc.* | 1,201 | 310,843 | ||||||
C.H. Robinson Worldwide, Inc. | 2,264 | 205,684 | ||||||
Cable One, Inc. | 67 | 128,295 | ||||||
Cabot Oil & Gas Corp. | 5,720 | 105,877 | ||||||
Cadence Design Systems, Inc.* | 4,737 | 668,343 | ||||||
Camden Property Trust REIT | 1,659 | 172,785 | ||||||
Campbell Soup Co. | 3,597 | 163,592 | ||||||
Capital One Financial Corp. | 8,175 | 982,553 | ||||||
Cardinal Health, Inc. | 5,695 | 293,406 | ||||||
Carlyle Group, Inc. | 1,982 | 67,883 | ||||||
CarMax, Inc.* | 3,107 | 371,318 | ||||||
Carnival Corp.* | 9,380 | 250,915 | ||||||
Carrier Global Corp. | 13,721 | 501,228 | ||||||
Carvana Co.* | 1,098 | 311,283 | ||||||
Catalent, Inc.* | 2,642 | 300,422 | ||||||
Caterpillar, Inc. | 9,754 | 2,105,694 | ||||||
Cboe Global Markets, Inc. | 1,920 | 190,003 | ||||||
CBRE Group, Inc., Class A* | 5,463 | 413,932 | ||||||
CDW Corp. | 2,556 | 401,011 | ||||||
Celanese Corp. | 2,390 | 331,995 | ||||||
Centene Corp.* | 9,855 | 576,912 | ||||||
CenterPoint Energy, Inc. | 9,636 | 187,324 | ||||||
Ceridian HCM Holding, Inc.* | 2,181 | 195,548 | ||||||
Cerner Corp. | 5,054 | 349,434 | ||||||
CF Industries Holdings, Inc. | 3,588 | 162,465 | ||||||
Charles Schwab Corp. | 27,391 | 1,690,573 | ||||||
Charter Communications, Inc., Class A* | 2,492 | 1,528,643 | ||||||
Cheniere Energy, Inc.* | 3,828 | 257,969 | ||||||
Chevron Corp. | 33,955 | 3,395,500 | ||||||
Chewy, Inc., Class A*(b) | 1,327 | 134,770 | ||||||
Chipotle Mexican Grill, Inc.* | 478 | 689,276 | ||||||
Church & Dwight Co., Inc. | 4,738 | 373,117 | ||||||
Cigna Corp. | 6,653 | 1,396,465 | ||||||
Cincinnati Financial Corp. | 2,879 | 281,768 | ||||||
Cintas Corp. | 1,673 | 542,621 | ||||||
Cisco Systems, Inc. | 74,861 | 3,359,013 | ||||||
Citigroup, Inc. | 37,030 | 2,439,536 | ||||||
Citizens Financial Group, Inc. | 6,463 | 280,753 | ||||||
Citrix Systems, Inc. | 1,915 | 255,806 | ||||||
Clorox Co. | 2,389 | 432,528 | ||||||
Cloudflare, Inc., Class A* | 3,697 | 273,467 | ||||||
CME Group, Inc. | 6,418 | 1,281,675 | ||||||
CMS Energy Corp. | 5,217 | 282,292 | ||||||
Coca-Cola Co. | 71,865 | 3,520,666 | ||||||
Cognex Corp. | 3,358 | 277,337 | ||||||
Cognizant Technology Solutions Corp., Class A | 9,518 | 699,383 | ||||||
Colgate-Palmolive Co. | 14,252 | 1,071,750 | ||||||
Comcast Corp., Class A | 81,523 | 4,297,893 | ||||||
Conagra Brands, Inc. | 9,278 | 314,803 | ||||||
ConocoPhillips | 24,640 | 1,281,526 |
See Notes to Financial Statements. | 28 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
United States (Continued) | ||||||||
Consolidated Edison, Inc. | 5,630 | $ | 369,609 | |||||
Constellation Brands, Inc., Class A | 2,795 | 598,521 | ||||||
Cooper Cos., Inc. | 880 | 339,794 | ||||||
Copart, Inc.* | 3,698 | 403,674 | ||||||
Corning, Inc. | 13,755 | 525,991 | ||||||
Corteva, Inc. | 13,462 | 607,809 | ||||||
CoStar Group, Inc.* | 717 | 590,636 | ||||||
Costco Wholesale Corp. | 7,852 | 2,599,012 | ||||||
Coupa Software, Inc.* | 1,189 | 411,703 | ||||||
Crowdstrike Holdings, Inc., Class A* | 3,180 | 686,880 | ||||||
Crown Castle International Corp. REIT | 7,712 | 1,201,144 | ||||||
Crown Holdings, Inc.* | 2,306 | 220,361 | ||||||
CSX Corp. | 13,687 | 1,253,045 | ||||||
Cummins, Inc. | 2,606 | 659,839 | ||||||
CVS Health Corp. | 22,843 | 1,556,294 | ||||||
D.R. Horton, Inc. | 5,878 | 451,842 | ||||||
Danaher Corp. | 11,429 | 2,510,608 | ||||||
Darden Restaurants, Inc. | 2,263 | 310,778 | ||||||
Datadog, Inc., Class A* | 2,699 | 257,512 | ||||||
DaVita, Inc.* | 1,148 | 117,245 | ||||||
Deere & Co. | 5,219 | 1,822,057 | ||||||
Dell Technologies, Inc., Class C* | 4,407 | 357,275 | ||||||
Delta Air Lines, Inc.* | 3,324 | 159,353 | ||||||
DENTSPLY SIRONA, Inc. | 4,519 | 239,823 | ||||||
Devon Energy Corp. | 10,760 | 231,770 | ||||||
DexCom, Inc.* | 1,672 | 665,088 | ||||||
Digital Realty Trust, Inc. REIT | 4,786 | 644,818 | ||||||
Discover Financial Services | 5,535 | 520,677 | ||||||
Discovery, Inc., Class A* | 3,241 | 171,870 | ||||||
Discovery, Inc., Class C* | 4,885 | 219,825 | ||||||
DISH Network Corp., Class A* | 4,523 | 142,520 | ||||||
DocuSign, Inc.* | 3,095 | 701,513 | ||||||
Dollar General Corp. | 4,508 | 851,967 | ||||||
Dollar Tree, Inc.* | 4,055 | 398,201 | ||||||
Dominion Energy, Inc. | 14,679 | 1,002,869 | ||||||
Domino’s Pizza, Inc. | 717 | 248,448 | ||||||
Dover Corp. | 2,868 | 353,510 | ||||||
Dow, Inc. | 13,304 | 789,060 | ||||||
DraftKings, Inc., Class A* | 3,236 | 199,111 | ||||||
Dropbox, Inc., Class A* | 4,534 | 102,219 | ||||||
DTE Energy Co. | 3,582 | 421,673 | ||||||
Duke Energy Corp. | 13,548 | 1,159,573 | ||||||
Duke Realty Corp. REIT | 7,368 | 289,194 | ||||||
DuPont de Nemours, Inc. | 9,829 | 691,175 | ||||||
Dynatrace, Inc.* | 2,638 | 131,267 | ||||||
Eastman Chemical Co. | 2,370 | 258,946 | ||||||
Eaton Corp. PLC | 7,357 | 957,808 | ||||||
eBay, Inc. | 12,727 | 718,057 | ||||||
Ecolab, Inc. | 4,442 | 929,977 | ||||||
Edison International | 6,651 | 359,087 | ||||||
Edwards Lifesciences Corp.* | 11,170 | 928,227 | ||||||
Elanco Animal Health, Inc.* | 6,917 | 227,293 | ||||||
Electronic Arts, Inc. | 5,004 | 670,386 | ||||||
Eli Lilly and Co. | 15,458 | 3,167,190 | ||||||
Emerson Electric Co. | 10,227 | 878,499 | ||||||
Enphase Energy, Inc.* | 2,109 | 371,311 | ||||||
Entergy Corp. | 3,583 | 311,040 |
Number | Value | |||||||
United States (Continued) | ||||||||
EOG Resources, Inc. | 10,478 | $ | 676,460 | |||||
EPAM Systems, Inc.* | 957 | 357,545 | ||||||
Equifax, Inc. | 2,390 | 386,893 | ||||||
Equinix, Inc. REIT | 1,588 | 1,029,564 | ||||||
Equitable Holdings, Inc. | 6,921 | 204,654 | ||||||
Equity LifeStyle Properties, Inc. REIT | 3,358 | 207,021 | ||||||
Equity Residential REIT | 6,250 | 408,812 | ||||||
Erie Indemnity Co., Class A | 402 | 97,324 | ||||||
Essential Utilities, Inc. | 3,837 | 161,384 | ||||||
Essex Property Trust, Inc. REIT | 1,170 | 298,104 | ||||||
Estee Lauder Cos., Inc., Class A | 4,010 | 1,146,299 | ||||||
Etsy, Inc.* | 2,113 | 465,431 | ||||||
Evergy, Inc. | 4,519 | 242,354 | ||||||
Eversource Energy | 6,412 | 509,626 | ||||||
Exact Sciences Corp.* | 2,868 | 390,392 | ||||||
Exelon Corp. | 17,492 | 675,191 | ||||||
Expedia Group, Inc. | 2,640 | 425,040 | ||||||
Expeditors International of Washington, Inc. | 3,345 | 307,205 | ||||||
Extra Space Storage, Inc. REIT | 2,295 | 288,481 | ||||||
Exxon Mobil Corp. | 75,069 | 4,081,502 | ||||||
F5 Networks, Inc.* | 960 | 182,381 | ||||||
Facebook, Inc., Class A* | 42,691 | 10,998,055 | ||||||
FactSet Research Systems, Inc. | 720 | 218,815 | ||||||
Fair Isaac Corp.* | 478 | 218,709 | ||||||
Fastenal Co. | 10,713 | 496,762 | ||||||
FedEx Corp. | 4,503 | 1,146,013 | ||||||
Fidelity National Financial, Inc. | 5,718 | 218,885 | ||||||
Fidelity National Information Services, Inc. | 11,190 | 1,544,220 | ||||||
Fifth Third Bancorp | 12,769 | 442,957 | ||||||
First Republic Bank | 3,107 | 511,878 | ||||||
FirstEnergy Corp. | 10,031 | 332,427 | ||||||
Fiserv, Inc.* | 9,993 | 1,152,892 | ||||||
FleetCor Technologies, Inc.* | 1,503 | 416,797 | ||||||
FMC Corp. | 2,629 | 267,343 | ||||||
Ford Motor Co.* | 73,650 | 861,705 | ||||||
Fortinet, Inc.* | 2,565 | 433,100 | ||||||
Fortive Corp. | 5,354 | 352,400 | ||||||
Fortune Brands Home & Security, Inc. | 2,471 | 205,439 | ||||||
Fox Corp., Class A | 7,158 | 238,433 | ||||||
Fox Corp., Class B | 3,593 | 114,724 | ||||||
Franklin Resources, Inc. | 5,490 | 143,673 | ||||||
Freeport-McMoRan, Inc.* | 25,847 | 876,472 | ||||||
Gartner, Inc.* | 1,624 | 290,761 | ||||||
Generac Holdings, Inc.* | 1,233 | 406,347 | ||||||
General Dynamics Corp. | 4,573 | 747,548 | ||||||
General Electric Co. | 152,284 | 1,909,641 | ||||||
General Mills, Inc. | 11,166 | 614,242 | ||||||
General Motors Co. | 23,262 | 1,194,038 | ||||||
Genuine Parts Co. | 2,639 | 278,019 | ||||||
Gilead Sciences, Inc. | 21,746 | 1,335,204 | ||||||
Global Payments, Inc. | 5,246 | 1,038,656 | ||||||
Globe Life, Inc. | 2,159 | 201,651 | ||||||
GoDaddy, Inc., Class A* | 3,358 | 272,401 | ||||||
Goldman Sachs Group, Inc. | 5,945 | 1,899,309 | ||||||
Guidewire Software, Inc.* | 1,421 | 157,717 |
See Notes to Financial Statements. | 29 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
United States (Continued) | ||||||||
Halliburton Co. | 15,513 | $ | 338,649 | |||||
Hartford Financial Services Group, Inc. | 6,677 | 338,457 | ||||||
Hasbro, Inc. | 2,160 | 202,414 | ||||||
HCA Healthcare, Inc.* | 4,977 | 856,193 | ||||||
Healthpeak Properties, Inc. REIT | 9,995 | 290,755 | ||||||
HEICO Corp. | 576 | 72,449 | ||||||
HEICO Corp., Class A | 1,415 | 163,800 | ||||||
Henry Schein, Inc.* | 2,159 | 133,534 | ||||||
Hershey Co. | 2,629 | 382,914 | ||||||
Hess Corp. | 4,771 | 312,644 | ||||||
Hewlett Packard Enterprise Co. | 26,264 | 382,404 | ||||||
Hilton Worldwide Holdings, Inc.* | 5,216 | 645,115 | ||||||
Hologic, Inc.* | 4,666 | 336,372 | ||||||
Home Depot, Inc. | 19,156 | 4,948,761 | ||||||
Honeywell International, Inc. | 12,424 | 2,513,996 | ||||||
Horizon Therapeutics PLC* | 3,728 | 338,912 | ||||||
Hormel Foods Corp. | 5,456 | 252,995 | ||||||
Host Hotels & Resorts, Inc. REIT | 14,560 | 241,550 | ||||||
Howmet Aerospace, Inc.* | 5,668 | 159,327 | ||||||
HP, Inc. | 25,741 | 745,717 | ||||||
HubSpot, Inc.* | 746 | 384,190 | ||||||
Humana, Inc. | 2,387 | 906,225 | ||||||
Huntington Bancshares, Inc. | 15,037 | 230,668 | ||||||
Huntington Ingalls Industries, Inc. | 721 | 126,831 | ||||||
IAC/InterActiveCorp* | 1,417 | 346,924 | ||||||
IDEX Corp. | 1,434 | 279,874 | ||||||
IDEXX Laboratories, Inc.* | 1,564 | 813,546 | ||||||
Illinois Tool Works, Inc. | 5,823 | 1,177,294 | ||||||
Illumina, Inc.* | 2,629 | 1,155,209 | ||||||
Incyte Corp.* | 3,344 | 263,039 | ||||||
Ingersoll Rand, Inc.* | 5,717 | 264,926 | ||||||
Insulet Corp.* | 1,195 | 309,624 | ||||||
Intel Corp. | 72,577 | 4,411,230 | ||||||
Intercontinental Exchange, Inc. | 9,735 | 1,073,868 | ||||||
International Business Machines Corp. | 16,169 | 1,922,979 | ||||||
International Flavors & Fragrances, Inc. | 3,945 | 534,587 | ||||||
International Paper Co. | 6,414 | 318,455 | ||||||
Interpublic Group of Cos., Inc. | 7,878 | 205,773 | ||||||
Intuit, Inc. | 4,531 | 1,767,724 | ||||||
Intuitive Surgical, Inc.* | 2,121 | 1,562,753 | ||||||
Invesco Ltd. | 7,167 | 160,684 | ||||||
Invitation Homes, Inc. REIT | 10,713 | 312,177 | ||||||
Ionis Pharmaceuticals, Inc.*(b) | 2,143 | 112,293 | ||||||
IPG Photonics Corp.* | 703 | 159,827 | ||||||
IQVIA Holdings, Inc.* | 3,436 | 662,426 | ||||||
Iron Mountain, Inc. REIT | 6,198 | 215,628 | ||||||
J M Smucker Co. | 2,160 | 241,920 | ||||||
Jack Henry & Associates, Inc. | 1,440 | 213,754 | ||||||
Jacobs Engineering Group, Inc. | 2,640 | 303,811 | ||||||
JB Hunt Transport Services, Inc. | 1,680 | 246,742 | ||||||
Johnson & Johnson | 46,751 | 7,408,163 | ||||||
Johnson Controls International PLC | 12,616 | 703,847 | ||||||
JPMorgan Chase & Co. | 54,018 | 7,949,829 | ||||||
Juniper Networks, Inc. | 4,791 | 111,534 | ||||||
Kansas City Southern | 1,567 | 332,737 | ||||||
Kellogg Co. | 4,134 | 238,573 | ||||||
Keurig Dr Pepper, Inc. (b) | 8,140 | 248,433 |
Number | Value | |||||||
United States (Continued) | ||||||||
KeyCorp | 17,610 | $ | 354,665 | |||||
Keysight Technologies, Inc.* | 3,342 | 472,960 | ||||||
Kimberly-Clark Corp. | 5,935 | 761,639 | ||||||
Kinder Morgan, Inc. | 36,146 | 531,346 | ||||||
KKR & Co., Inc. | 8,498 | 387,169 | ||||||
KLA Corp. | 2,868 | 892,608 | ||||||
Knight-Swift Transportation Holdings, Inc. | 2,606 | 112,579 | ||||||
Kraft Heinz Co. | 11,133 | 405,019 | ||||||
Kroger Co. | 13,794 | 444,305 | ||||||
L3Harris Technologies, Inc. | 3,815 | 693,987 | ||||||
Laboratory Corp. of America Holdings* | 1,673 | 401,369 | ||||||
Lam Research Corp. | 2,628 | 1,490,575 | ||||||
Lamb Weston Holdings, Inc. | 2,880 | 229,738 | ||||||
Las Vegas Sands Corp. | 6,412 | 401,391 | ||||||
Lear Corp. | 957 | 158,948 | ||||||
Leidos Holdings, Inc. | 2,640 | 233,508 | ||||||
Lennar Corp., Class A | 4,689 | 389,046 | ||||||
Lennox International, Inc. | 720 | 201,434 | ||||||
Liberty Broadband Corp., Class A* | 719 | 104,514 | ||||||
Liberty Broadband Corp., Class C* | 2,828 | 422,814 | ||||||
Liberty Media Corp.-Liberty Formula One, Class C* | 4,054 | 177,971 | ||||||
Liberty Media Corp-Liberty SiriusXM, Class C* | 3,099 | 136,728 | ||||||
Lincoln National Corp. | 3,327 | 189,206 | ||||||
Live Nation Entertainment, Inc.*(b) | 2,875 | 255,472 | ||||||
LKQ Corp.* | 5,288 | 208,294 | ||||||
Lockheed Martin Corp. | 4,455 | 1,471,264 | ||||||
Loews Corp. | 4,218 | 201,663 | ||||||
Lowe’s Cos., Inc. | 13,016 | 2,079,306 | ||||||
Lumen Technologies, Inc. | 13,986 | 171,888 | ||||||
LyondellBasell Industries NV, Class A | 4,978 | 513,182 | ||||||
M&T Bank Corp. | 2,265 | 341,879 | ||||||
Marathon Petroleum Corp. | 11,883 | 649,049 | ||||||
Markel Corp.* | 240 | 261,312 | ||||||
MarketAxess Holdings, Inc. | 717 | 398,609 | ||||||
Marriott International, Inc., Class A* | 4,958 | 734,131 | ||||||
Marsh & McLennan Cos., Inc. | 8,455 | 974,185 | ||||||
Martin Marietta Materials, Inc. | 1,195 | 402,560 | ||||||
Marvell Technology Group Ltd. | 12,531 | 604,997 | ||||||
Masco Corp. | 5,003 | 266,260 | ||||||
Masimo Corp.* | 936 | 234,683 | ||||||
Mastercard, Inc., Class A | 15,703 | 5,556,507 | ||||||
Match Group, Inc.* | 4,206 | 642,887 | ||||||
Maxim Integrated Products, Inc. | 4,505 | 419,731 | ||||||
McCormick & Co., Inc. | 4,778 | 402,690 | ||||||
McDonald’s Corp. | 13,311 | 2,743,930 | ||||||
McKesson Corp. | 2,868 | 486,183 | ||||||
Medical Properties Trust, Inc. REIT | 10,520 | 227,127 | ||||||
Merck & Co., Inc. | 44,830 | 3,255,555 | ||||||
MetLife, Inc. | 13,351 | 769,018 | ||||||
Mettler-Toledo International, Inc.* | 430 | 479,901 | ||||||
MGM Resorts International | 8,530 | 322,349 | ||||||
Microchip Technology, Inc. | 4,588 | 700,266 | ||||||
Micron Technology, Inc.* | 19,741 | 1,806,894 | ||||||
Microsoft Corp. | 127,690 | 29,672,602 |
See Notes to Financial Statements. | 30 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
United States (Continued) | ||||||||
Mid-America Apartment Communities, Inc. REIT | 1,896 | $ | 255,448 | |||||
Moderna, Inc.* | 5,015 | 776,372 | ||||||
Mohawk Industries, Inc.* | 1,111 | 194,414 | ||||||
Molina Healthcare, Inc.* | 970 | 210,257 | ||||||
Molson Coors Beverage Co., Class B | �� | 3,086 | 137,173 | |||||
Mondelez International, Inc., Class A | 25,419 | 1,351,274 | ||||||
MongoDB, Inc.* | 1,002 | 386,702 | ||||||
Monolithic Power Systems, Inc. | 705 | 264,037 | ||||||
Monster Beverage Corp.* | 6,721 | 589,701 | ||||||
Moody’s Corp. | 3,083 | 847,486 | ||||||
Morgan Stanley | 24,578 | 1,889,311 | ||||||
Mosaic Co. | 6,623 | 194,716 | ||||||
Motorola Solutions, Inc. | 2,868 | 503,277 | ||||||
MSCI, Inc. | 1,426 | 591,106 | ||||||
Nasdaq, Inc. | 2,150 | 297,324 | ||||||
NetApp, Inc. | 3,978 | 249,023 | ||||||
Netflix, Inc.* | 7,853 | 4,231,589 | ||||||
Neurocrine Biosciences, Inc.* | 1,680 | 183,977 | ||||||
Newell Brands, Inc. | 8,118 | 188,094 | ||||||
Newmont Corp. | 14,260 | 775,459 | ||||||
News Corp., Class A | 5,178 | 121,424 | ||||||
NextEra Energy, Inc. | 33,972 | 2,496,263 | ||||||
NIKE, Inc., Class B | 22,221 | 2,994,946 | ||||||
NiSource, Inc. | 7,637 | 164,959 | ||||||
Nordson Corp. | 948 | 182,405 | ||||||
Norfolk Southern Corp. | 4,567 | 1,151,158 | ||||||
Northern Trust Corp. | 3,821 | 363,492 | ||||||
Northrop Grumman Corp. | 2,743 | 800,023 | ||||||
NortonLifeLock, Inc. | 9,380 | 183,004 | ||||||
NRG Energy, Inc. | 4,307 | 157,249 | ||||||
Nucor Corp. | 5,384 | 322,071 | ||||||
NVIDIA Corp. | 10,907 | 5,983,362 | ||||||
NVR, Inc.* | 62 | 279,052 | ||||||
Occidental Petroleum Corp. | 14,327 | 381,241 | ||||||
OGE Energy Corp. | 3,330 | 97,469 | ||||||
Okta, Inc.* | 2,150 | 562,118 | ||||||
Old Dominion Freight Line, Inc. | 1,597 | 342,988 | ||||||
Omega Healthcare Investors, Inc. REIT | 3,691 | 137,084 | ||||||
Omnicom Group, Inc. | 3,593 | 246,947 | ||||||
ON Semiconductor Corp.*(b) | 6,702 | 269,890 | ||||||
ONEOK, Inc. | 7,622 | 337,578 | ||||||
Oracle Corp. | 35,338 | 2,279,654 | ||||||
O’Reilly Automotive, Inc.* | 1,264 | 565,425 | ||||||
Otis Worldwide Corp. | 7,845 | 499,805 | ||||||
Owens Corning | 2,163 | 175,246 | ||||||
PACCAR, Inc. | 5,892 | 536,113 | ||||||
Packaging Corp. of America | 1,920 | 253,478 | ||||||
Palo Alto Networks, Inc.* | 1,768 | 633,492 | ||||||
Parker-Hannifin Corp. | 2,306 | 661,730 | ||||||
Paychex, Inc. | 5,694 | 518,553 | ||||||
Paycom Software, Inc.* | 956 | 357,773 | ||||||
PayPal Holdings, Inc.* | 19,936 | 5,180,370 | ||||||
Peloton Interactive, Inc., Class A* | 4,383 | 528,020 | ||||||
PepsiCo, Inc. | 24,283 | 3,137,121 | ||||||
PerkinElmer, Inc. | 1,660 | 209,309 | ||||||
Pfizer, Inc. | 99,363 | 3,327,667 |
Number | Value | |||||||
United States (Continued) | ||||||||
PG&E Corp.*(b) | 26,422 | $ | 277,695 | |||||
Philip Morris International, Inc. | 27,775 | 2,333,656 | ||||||
Phillips 66 | 8,313 | 690,395 | ||||||
Pinnacle West Capital Corp. | 1,954 | 136,643 | ||||||
Pinterest, Inc., Class A* | 9,204 | 741,658 | ||||||
Pioneer Natural Resources Co. | 3,526 | 523,858 | ||||||
Plug Power, Inc.* | 8,440 | 408,327 | ||||||
PNC Financial Services Group, Inc. | 7,607 | 1,280,715 | ||||||
Pool Corp. | 628 | 210,236 | ||||||
PPD, Inc.* | 1,684 | 59,041 | ||||||
PPG Industries, Inc. | 4,227 | 569,884 | ||||||
PPL Corp. | 14,257 | 373,391 | ||||||
Principal Financial Group, Inc. | 4,885 | 276,393 | ||||||
Procter & Gamble Co. | 44,211 | 5,461,385 | ||||||
Progressive Corp. | 10,462 | 899,209 | ||||||
Prologis, Inc. REIT | 13,088 | 1,296,628 | ||||||
Prudential Financial, Inc. | 6,879 | 596,547 | ||||||
PTC, Inc.* | 1,897 | 259,775 | ||||||
Public Service Enterprise Group, Inc. | 9,517 | 512,300 | ||||||
Public Storage REIT | 2,621 | 613,157 | ||||||
PulteGroup, Inc. | 4,748 | 214,182 | ||||||
Qorvo, Inc.* | 2,151 | 375,844 | ||||||
QUALCOMM, Inc. | 19,945 | 2,716,310 | ||||||
Quest Diagnostics, Inc. | 2,629 | 303,886 | ||||||
Raymond James Financial, Inc. | 2,270 | 265,000 | ||||||
Raytheon Technologies Corp. | 26,739 | 1,924,941 | ||||||
Realty Income Corp. REIT | 6,722 | 405,068 | ||||||
Regency Centers Corp. REIT | 3,015 | 165,162 | ||||||
Regeneron Pharmaceuticals, Inc.* | 1,898 | 855,182 | ||||||
Regions Financial Corp. | 14,795 | 305,221 | ||||||
Reinsurance Group of America, Inc. | 1,187 | 145,087 | ||||||
Republic Services, Inc. | 4,261 | 379,612 | ||||||
ResMed, Inc. | 2,628 | 506,626 | ||||||
RingCentral, Inc., Class A*(b) | 1,434 | 542,281 | ||||||
Robert Half International, Inc. | 2,131 | 165,770 | ||||||
Rockwell Automation, Inc. | 2,151 | 523,295 | ||||||
Roku, Inc.* | 1,912 | 756,158 | ||||||
Rollins, Inc. | 3,910 | 129,695 | ||||||
Roper Technologies, Inc. | 1,912 | 722,009 | ||||||
Ross Stores, Inc. | 6,462 | 753,728 | ||||||
Royal Caribbean Cruises Ltd. | 3,088 | 288,018 | ||||||
Royalty Pharma PLC, Class A (b) | 3,258 | 151,725 | ||||||
RPM International, Inc. | 2,160 | 172,022 | ||||||
S&P Global, Inc. | 4,198 | 1,382,653 | ||||||
salesforce.com, Inc.* | 16,053 | 3,475,475 | ||||||
Sarepta Therapeutics, Inc.*(b) | 1,200 | 104,472 | ||||||
SBA Communications Corp. REIT | 1,912 | 487,809 | ||||||
Schlumberger N.V. | 24,027 | 670,594 | ||||||
Seagate Technology PLC | 4,168 | 305,223 | ||||||
Seagen, Inc.* | 2,151 | 325,038 | ||||||
Sealed Air Corp. | 3,333 | 139,653 | ||||||
SEI Investments Co. | 1,914 | 107,184 | ||||||
Sempra Energy | 5,010 | 581,060 | ||||||
Sensata Technologies Holding PLC* | 2,643 | 151,417 | ||||||
ServiceNow, Inc.* | 3,427 | 1,828,167 | ||||||
Sherwin-Williams Co. | 1,431 | 973,567 | ||||||
Simon Property Group, Inc. REIT | 5,856 | 661,260 |
See Notes to Financial Statements. | 31 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
United States (Continued) | ||||||||
Sirius XM Holdings, Inc. (b) | 13,374 | $ | 78,238 | |||||
Skyworks Solutions, Inc. | 3,024 | 537,728 | ||||||
Slack Technologies, Inc., Class A* | 7,126 | 291,667 | ||||||
Snap, Inc., Class A* | 16,506 | 1,083,784 | ||||||
Snap-on, Inc. | 720 | 146,239 | ||||||
Snowflake, Inc., Class A*(b) | 526 | 136,518 | ||||||
Southern Co. | 19,514 | 1,106,834 | ||||||
Southwest Airlines Co. | 2,672 | 155,323 | ||||||
Splunk, Inc.* | 2,868 | 410,153 | ||||||
Square, Inc., Class A* | 6,637 | 1,526,709 | ||||||
SS&C Technologies Holdings, Inc. | 4,254 | 281,955 | ||||||
Stanley Black & Decker, Inc. | 2,867 | 501,266 | ||||||
Starbucks Corp. | 20,924 | 2,260,420 | ||||||
State Street Corp. | 5,937 | 432,035 | ||||||
Steel Dynamics, Inc. | 4,060 | 168,815 | ||||||
STERIS PLC | 1,672 | 292,266 | ||||||
Stryker Corp. | 5,935 | 1,440,365 | ||||||
Sun Communities, Inc. REIT | 1,440 | 218,808 | ||||||
Sunrun, Inc.*(b) | 2,018 | 126,286 | ||||||
SVB Financial Group* | 953 | 481,608 | ||||||
Synchrony Financial | 9,352 | 361,735 | ||||||
Synopsys, Inc.* | 2,864 | 702,281 | ||||||
Sysco Corp. | 9,040 | 719,855 | ||||||
T. Rowe Price Group, Inc. | 4,064 | 658,937 | ||||||
Take-Two Interactive Software, Inc.* | 2,011 | 370,949 | ||||||
Target Corp. | 8,756 | 1,606,201 | ||||||
Teladoc Health, Inc.*(b) | 2,080 | 459,867 | ||||||
Teledyne Technologies, Inc.* | 720 | 267,120 | ||||||
Teleflex, Inc. | 721 | 287,045 | ||||||
Teradyne, Inc. | 2,970 | 381,972 | ||||||
Tesla, Inc.* | 13,475 | 9,102,363 | ||||||
Texas Instruments, Inc. | 16,322 | 2,811,791 | ||||||
Textron, Inc. | 3,894 | 196,024 | ||||||
Thermo Fisher Scientific, Inc. | 7,101 | 3,196,018 | ||||||
TJX Cos., Inc. | 21,156 | 1,396,084 | ||||||
T-Mobile US, Inc.* | 10,044 | 1,204,979 | ||||||
Tractor Supply Co. | 1,966 | 312,515 | ||||||
Trade Desk, Inc., Class A* | 715 | 575,854 | ||||||
Tradeweb Markets, Inc., Class A | 1,664 | 121,123 | ||||||
TransDigm Group, Inc.* | 848 | 489,016 | ||||||
TransUnion | 3,582 | 301,640 | ||||||
Travelers Cos., Inc. | 4,467 | 649,949 | ||||||
Trimble, Inc.* | 4,551 | 337,411 | ||||||
Truist Financial Corp. | 23,302 | 1,327,282 | ||||||
Twilio, Inc., Class A* | 2,528 | 993,201 | ||||||
Twitter, Inc.* | 13,719 | 1,057,186 | ||||||
Tyler Technologies, Inc.* | 720 | 333,662 | ||||||
Tyson Foods, Inc., Class A | 5,695 | 385,381 | ||||||
Uber Technologies, Inc.* | 17,359 | 898,328 | ||||||
UDR, Inc. REIT | 5,959 | 245,332 | ||||||
UGI Corp. | 3,352 | 128,415 | ||||||
Ulta Beauty, Inc.* | 961 | 309,759 | ||||||
Union Pacific Corp. | 12,051 | 2,482,024 | ||||||
United Parcel Service, Inc., Class B | 12,586 | 1,986,448 | ||||||
United Rentals, Inc.* | 1,440 | 428,227 | ||||||
UnitedHealth Group, Inc. | 16,951 | 5,631,461 | ||||||
Universal Health Services, Inc., Class B* | 1,380 | 172,955 |
Number | Value | |||||||
United States (Continued) | ||||||||
US Bancorp | 22,647 | $ | 1,132,350 | |||||
Vail Resorts, Inc. | 719 | 222,300 | ||||||
Valero Energy Corp. | 7,596 | 584,740 | ||||||
Varian Medical Systems, Inc.* | 1,510 | 264,658 | ||||||
Veeva Systems, Inc., Class A* | 2,390 | 669,463 | ||||||
Ventas, Inc. REIT | 6,368 | 336,867 | ||||||
VEREIT, Inc. REIT | 3,187 | 124,293 | ||||||
VeriSign, Inc.* | 1,677 | 325,388 | ||||||
Verisk Analytics, Inc. | 2,624 | 429,942 | ||||||
Verizon Communications, Inc. | 73,366 | 4,057,140 | ||||||
Vertex Pharmaceuticals, Inc.* | 4,511 | 958,813 | ||||||
VF Corp. | 6,011 | 475,650 | ||||||
ViacomCBS, Inc., Class B (b) | 9,743 | 628,326 | ||||||
Viatris, Inc.* | 20,726 | 307,781 | ||||||
VICI Properties, Inc. REIT | 9,801 | 279,329 | ||||||
Visa, Inc., Class A | 29,940 | 6,358,957 | ||||||
Vistra Corp. | 7,638 | 131,756 | ||||||
VMware, Inc., Class A* | 1,680 | 232,193 | ||||||
Vornado Realty Trust REIT | 2,831 | 121,563 | ||||||
Voya Financial, Inc. (b) | 2,381 | 143,527 | ||||||
Vulcan Materials Co. | 2,147 | 358,528 | ||||||
W.R. Berkley Corp. | 2,880 | 199,670 | ||||||
W.W. Grainger, Inc. | 728 | 271,333 | ||||||
Walgreens Boots Alliance, Inc. | 12,604 | 604,110 | ||||||
Walmart, Inc. | 24,999 | 3,247,870 | ||||||
Walt Disney Co.* | 32,354 | 6,116,200 | ||||||
Waste Connections, Inc. | 4,307 | 420,751 | ||||||
Waste Management, Inc. | 7,286 | 807,945 | ||||||
Waters Corp.* | 930 | 254,708 | ||||||
Wayfair, Inc., Class A* | 1,189 | 343,597 | ||||||
WEC Energy Group, Inc. | 5,934 | 478,518 | ||||||
Wells Fargo & Co. | 69,122 | 2,500,143 | ||||||
Welltower, Inc. REIT | 7,038 | 477,880 | ||||||
West Pharmaceutical Services, Inc. | 1,434 | 402,452 | ||||||
Western Digital Corp. | 4,962 | 340,046 | ||||||
Western Union Co. | 8,598 | 199,646 | ||||||
Westinghouse Air Brake Technologies Corp. | 2,873 | 208,091 | ||||||
Westrock Co. | 4,279 | 186,522 | ||||||
Weyerhaeuser Co. REIT | 12,122 | 410,572 | ||||||
Whirlpool Corp. | 960 | 182,477 | ||||||
Williams Cos., Inc. | 22,106 | 504,901 | ||||||
Workday, Inc., Class A* | 3,107 | 761,774 | ||||||
WP Carey, Inc. REIT | 2,854 | 195,613 | ||||||
Wynn Resorts Ltd.* | 1,757 | 231,450 | ||||||
Xcel Energy, Inc. | 9,996 | 585,666 | ||||||
Xilinx, Inc. | 4,451 | 579,965 | ||||||
XPO Logistics, Inc.* | 1,658 | 193,323 | ||||||
Xylem, Inc. | 3,344 | 332,929 | ||||||
Yum! Brands, Inc. | 5,648 | 584,737 | ||||||
Zebra Technologies Corp., Class A* | 961 | 479,952 | ||||||
Zendesk, Inc.* | 1,950 | 284,973 | ||||||
Zillow Group, Inc., Class A* | 1,273 | 216,181 | ||||||
Zillow Group, Inc., Class C* | 2,401 | 387,353 | ||||||
Zimmer Biomet Holdings, Inc. | 3,582 | 584,081 | ||||||
Zoetis, Inc. | 8,568 | 1,330,096 |
See Notes to Financial Statements. | 32 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
United States (Continued) | ||||||||
Zoom Video Communications, Inc., Class A* | 3,481 | $ | 1,300,536 | |||||
Zscaler, Inc.*(b) | 1,064 | 218,152 | ||||||
|
| |||||||
(Cost $508,951,230) | 594,868,893 | |||||||
|
| |||||||
TOTAL COMMON STOCKS | 853,361,409 | |||||||
|
| |||||||
PREFERRED STOCKS — 0.2% | ||||||||
Germany — 0.2% | ||||||||
Bayerische Motoren Werke AG | 832 | 56,604 | ||||||
FUCHS PETROLUB SE | 999 | 54,979 | ||||||
Henkel AG & Co. KGaA | 3,344 | 331,129 | ||||||
Porsche Automobil Holding SE | 2,881 | 232,128 | ||||||
Sartorius AG | 717 | 370,223 | ||||||
Volkswagen AG | 3,184 | 668,678 | ||||||
|
| |||||||
(Cost $1,428,440) | 1,713,741 | |||||||
|
| |||||||
TOTAL PREFERRED STOCKS | 1,713,741 | |||||||
|
|
Number | Value | |||||||
WARRANTS — 0.0% | ||||||||
Switzerland — 0.0% | ||||||||
Cie Financiere Richemont SA*, expires 11/22/23 | 19,824 | $ | 7,007 | |||||
|
| |||||||
SECURITIES LENDING COLLATERAL — 0.0% |
| |||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (d)(e) | 117,889 | 117,889 | ||||||
|
| |||||||
CASH EQUIVALENTS — 0.2% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (d) | 1,497,365 | 1,497,365 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 99.9% | $ | 856,697,411 | ||||||
Other assets and liabilities, net — 0.1% | 644,489 | |||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 857,341,900 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2021 is as follows:
Value ($) at 8/31/2020 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2021 | Value ($) at 2/28/2021 | ||||||||||||||||||||||||||||
COMMON STOCKS — 0.0% |
| |||||||||||||||||||||||||||||||||||
Germany — 0.0% |
| |||||||||||||||||||||||||||||||||||
Deutsche Bank AG*(c) |
| |||||||||||||||||||||||||||||||||||
62,816 | 299,146 | (44,894 | ) | 18,497 | 103,738 | — | — | 35,434 | 439,303 | |||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 0.0% |
| |||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (d)(e) |
| |||||||||||||||||||||||||||||||||||
70,099 | 47,790 | (f) | — | — | — | 155 | — | 117,889 | 117,889 | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.2% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (d) |
| |||||||||||||||||||||||||||||||||||
358,192 | 7,208,764 | (6,069,591 | ) | — | — | 101 | — | 1,497,365 | 1,497,365 | |||||||||||||||||||||||||||
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| |||||||||||||||||||
491,107 | 7,555,700 | (6,114,485 | ) | 18,497 | 103,738 | 256 | — | 1,650,688 | 2,054,557 | |||||||||||||||||||||||||||
|
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* | 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, 2021 amounted to $6,795,988, which is 0.8% of net assets. |
(c) | Affiliated issuer. This security is owned in proportion with its representation in the index. |
(d) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
(e) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund held non-cash U.S. Treasury securities collateral having a value of $6,913,852. |
(f) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2021. |
ADR: | American Depositary Receipt |
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. |
See Notes to Financial Statements. | 33 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2021 (Unaudited)
Securities | are listed in country of domicile. |
At February 28, 2021, open futures contracts purchased were as follows:
Contract Description | Currency | Number of Contracts | Notional Amount | Contract Value | Expiration Date | Unrealized Appreciation (Depreciation) | ||||||||||||
E-Mini S&P 500 Futures | USD | 6 | $ | 1,119,672 | $ | 1,142,760 | 3/19/2021 | $ | 23,088 | |||||||||
MSCI EAFE Futures | USD | 8 | 867,650 | 865,600 | 3/19/2021 | (2,050 | ) | |||||||||||
|
| |||||||||||||||||
Total net unrealized appreciation | $ | 21,038 | ||||||||||||||||
|
|
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 |
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, 2021 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) | $ | 853,361,409 | $ | — | $ | — | $ | 853,361,409 | ||||||||
Preferred Stocks | 1,713,741 | — | — | 1,713,741 | ||||||||||||
Warrants | 7,007 | — | — | 7,007 | ||||||||||||
Short-Term Investments (g) | 1,615,254 | — | — | 1,615,254 | ||||||||||||
Derivatives (h) | ||||||||||||||||
Futures Contracts | 23,088 | — | — | 23,088 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 856,720,499 | $ | — | $ | — | $ | 856,720,499 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liabilities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Derivatives (h) | ||||||||||||||||
Futures Contracts | $ | (2,050 | ) | $ | — | $ | — | $ | (2,050 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | (2,050 | ) | $ | — | $ | — | $ | (2,050 | ) | ||||||
|
|
|
|
|
|
|
|
(g) | See Schedule of Investments for additional detailed categorizations. |
(h) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
See Notes to Financial Statements. | 34 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF
February 28, 2021 (Unaudited)
Number | Value | |||||||
COMMON STOCKS — 98.6% | ||||||||
Communication Services — 12.3% | ||||||||
Activision Blizzard, Inc. | 229 | $ | 21,895 | |||||
Alphabet, Inc., Class A* | 585 | 1,182,817 | ||||||
Alphabet, Inc., Class C* | 604 | 1,230,263 | ||||||
AT&T, Inc. | 12,736 | 355,207 | ||||||
Comcast Corp., Class A | 254 | 13,391 | ||||||
Discovery, Inc., Class C* | 515 | 23,175 | ||||||
Electronic Arts, Inc. | 984 | 131,826 | ||||||
Facebook, Inc., Class A* | 5,454 | 1,405,059 | ||||||
Fox Corp., Class A | 1,169 | 38,939 | ||||||
Fox Corp., Class B | 582 | 18,583 | ||||||
Interpublic Group of Cos., Inc. | 982 | 25,650 | ||||||
New York Times Co., Class A | 270 | 13,816 | ||||||
News Corp., Class A | 1,170 | 27,437 | ||||||
Omnicom Group, Inc. | 529 | 36,358 | ||||||
Take-Two Interactive Software, Inc.* | 273 | 50,358 | ||||||
TripAdvisor, Inc.*(a) | 466 | 23,123 | ||||||
Verizon Communications, Inc. | 7,655 | 423,322 | ||||||
Walt Disney Co.* | 771 | 145,750 | ||||||
|
| |||||||
(Cost $4,157,117) | 5,166,969 | |||||||
|
| |||||||
Consumer Discretionary — 10.5% | ||||||||
Advance Auto Parts, Inc. | 224 | 35,918 | ||||||
Aptiv PLC* | 131 | 19,629 | ||||||
Aramark | 272 | 10,097 | ||||||
AutoZone, Inc.* | 67 | 77,715 | ||||||
Best Buy Co., Inc. | 939 | 94,229 | ||||||
Booking Holdings, Inc.* | 160 | 372,562 | ||||||
BorgWarner, Inc. | 1,059 | 47,655 | ||||||
Burlington Stores, Inc.* | 39 | 10,094 | ||||||
Carnival Corp.* | 2,071 | 55,399 | ||||||
Carter’s, Inc. | 106 | 8,848 | ||||||
Columbia Sportswear Co. | 86 | 8,864 | ||||||
D.R. Horton, Inc. | 440 | 33,823 | ||||||
Darden Restaurants, Inc. | 701 | 96,268 | ||||||
Dick’s Sporting Goods, Inc. (a) | 268 | 19,127 | ||||||
Dollar General Corp. | 217 | 41,011 | ||||||
eBay, Inc. | 2,571 | 145,056 | ||||||
Expedia Group, Inc. | 489 | 78,729 | ||||||
Foot Locker, Inc. | 509 | 24,478 | ||||||
Gap, Inc.* | 792 | 19,760 | ||||||
Garmin Ltd. | 466 | 57,793 | ||||||
Gentex Corp. | 1,080 | 38,210 | ||||||
Genuine Parts Co. | 108 | 11,378 | ||||||
Grand Canyon Education, Inc.* | 91 | 9,527 | ||||||
H&R Block, Inc. | 919 | 17,672 | ||||||
Hanesbrands, Inc. (a) | 767 | 13,568 | ||||||
Home Depot, Inc. | 2,349 | 606,841 | ||||||
Kohl’s Corp. | 426 | 23,536 | ||||||
Las Vegas Sands Corp. | 653 | 40,878 | ||||||
Lear Corp. | 226 | 37,536 | ||||||
Lennar Corp., Class A | 344 | 28,542 | ||||||
LKQ Corp.* | 400 | 15,756 | ||||||
Lowe’s Cos., Inc. | 489 | 78,118 | ||||||
Lululemon Athletica, Inc.* | 55 | 17,142 | ||||||
MGM Resorts International | 638 | 24,110 | ||||||
Mohawk Industries, Inc.* | 228 | 39,898 |
Number | Value | |||||||
Consumer Discretionary (Continued) | ||||||||
Newell Brands, Inc. | 839 | $ | 19,440 | |||||
NIKE, Inc., Class B | 3,286 | 442,887 | ||||||
Norwegian Cruise Line Holdings Ltd.*(a) | 632 | 18,682 | ||||||
NVR, Inc.* | 16 | 72,013 | ||||||
O’Reilly Automotive, Inc.* | 43 | 19,235 | ||||||
Polaris, Inc. | 153 | 18,017 | ||||||
PulteGroup, Inc. | 819 | 36,945 | ||||||
PVH Corp. | 178 | 17,793 | ||||||
Ralph Lauren Corp. | 250 | 29,270 | ||||||
Ross Stores, Inc. | 959 | 111,858 | ||||||
Royal Caribbean Cruises Ltd. | 473 | 44,117 | ||||||
Skechers U.S.A., Inc., Class A* | 415 | 15,189 | ||||||
Starbucks Corp. | 4,168 | 450,269 | ||||||
Tapestry, Inc. | 1,235 | 52,043 | ||||||
Target Corp. | 2,144 | 393,295 | ||||||
Thor Industries, Inc. (a) | 110 | 12,877 | ||||||
TJX Cos., Inc. | 3,196 | 210,904 | ||||||
Tractor Supply Co. | 272 | 43,237 | ||||||
Ulta Beauty, Inc.* | 138 | 44,482 | ||||||
Vail Resorts, Inc. | 55 | 17,005 | ||||||
VF Corp. | 162 | 12,819 | ||||||
Whirlpool Corp. | 153 | 29,082 | ||||||
Williams-Sonoma, Inc. (a) | 250 | 32,822 | ||||||
Yum China Holdings, Inc. | 340 | 20,346 | ||||||
Yum! Brands, Inc. | 164 | 16,979 | ||||||
|
| |||||||
(Cost $3,795,565) | 4,441,373 | |||||||
|
| |||||||
Consumer Staples — 5.4% | ||||||||
Altria Group, Inc. | 674 | 29,386 | ||||||
Casey’s General Stores, Inc. | 88 | 17,772 | ||||||
Clorox Co. | 203 | 36,753 | ||||||
Colgate-Palmolive Co. | 421 | 31,659 | ||||||
Costco Wholesale Corp. | 1,609 | 532,579 | ||||||
Estee Lauder Cos., Inc., Class A | 644 | 184,094 | ||||||
Hershey Co. | 226 | 32,917 | ||||||
Hormel Foods Corp. | 795 | 36,864 | ||||||
Ingredion, Inc. | 176 | 15,875 | ||||||
Kimberly-Clark Corp. | 635 | 81,490 | ||||||
Lamb Weston Holdings, Inc. | 205 | 16,353 | ||||||
Monster Beverage Corp.* | 833 | 73,087 | ||||||
PepsiCo, Inc. | 634 | 81,906 | ||||||
Philip Morris International, Inc. | 3,780 | 317,596 | ||||||
Procter & Gamble Co. | 392 | 48,424 | ||||||
Spectrum Brands Holdings, Inc. | 172 | 13,339 | ||||||
Sysco Corp. | 1,906 | 151,775 | ||||||
Walgreens Boots Alliance, Inc. | 3,881 | 186,016 | ||||||
Walmart, Inc. | 2,964 | 385,083 | ||||||
|
| |||||||
(Cost $2,204,545) | 2,272,968 | |||||||
|
| |||||||
Energy — 6.1% | ||||||||
Cabot Oil & Gas Corp. (a) | 1,975 | 36,557 | ||||||
Chevron Corp. | 7,659 | 765,900 | ||||||
ConocoPhillips | 6,025 | 313,360 | ||||||
Devon Energy Corp. | 1,965 | 42,326 | ||||||
Diamondback Energy, Inc. | 388 | 26,881 | ||||||
EOG Resources, Inc. | 3,351 | 216,340 |
See Notes to Financial Statements. | 35 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Energy (Continued) | ||||||||
Exxon Mobil Corp. | 13,453 | $ | 731,440 | |||||
Helmerich & Payne, Inc. | 607 | 17,439 | ||||||
HollyFrontier Corp. | 536 | 20,304 | ||||||
Marathon Oil Corp. | 2,558 | 28,394 | ||||||
Marathon Petroleum Corp. | 2,829 | 154,520 | ||||||
Occidental Petroleum Corp. | 854 | 22,725 | ||||||
Phillips 66 | 537 | 44,598 | ||||||
Pioneer Natural Resources Co. | 861 | 127,919 | ||||||
Valero Energy Corp. | 536 | 41,261 | ||||||
|
| |||||||
(Cost $3,246,615) | 2,589,964 | |||||||
|
| |||||||
Financials — 7.7% | ||||||||
Allstate Corp. | 440 | 46,904 | ||||||
Apollo Global Management, Inc. | 607 | 30,022 | ||||||
Arch Capital Group Ltd.* | 604 | 21,635 | ||||||
Berkshire Hathaway, Inc., Class B* | 7,225 | 1,737,685 | ||||||
Cboe Global Markets, Inc. | 136 | 13,459 | ||||||
Cincinnati Financial Corp. | 788 | 77,122 | ||||||
Credit Acceptance Corp.*(a) | 59 | 21,418 | ||||||
Erie Indemnity Co., Class A | 84 | 20,336 | ||||||
Evercore, Inc., Class A | 408 | 48,866 | ||||||
FactSet Research Systems, Inc. | 85 | 25,832 | ||||||
Fidelity National Financial, Inc. | 1,691 | 64,732 | ||||||
First American Financial Corp. | 392 | 20,596 | ||||||
Franklin Resources, Inc. (a) | 1,454 | 38,051 | ||||||
Lazard Ltd., Class A | 652 | 25,226 | ||||||
LPL Financial Holdings, Inc. | 463 | 60,903 | ||||||
Markel Corp.* | 23 | 25,042 | ||||||
MarketAxess Holdings, Inc. | 53 | 29,465 | ||||||
Marsh & McLennan Cos., Inc. | 393 | 45,281 | ||||||
MGIC Investment Corp. | 3,145 | 38,306 | ||||||
Moody’s Corp. | 428 | 117,653 | ||||||
MSCI, Inc. | 191 | 79,173 | ||||||
Old Republic International Corp. | 643 | 12,429 | ||||||
Progressive Corp. | 2,496 | 214,531 | ||||||
S&P Global, Inc. | 660 | 217,378 | ||||||
SEI Investments Co. | 535 | 29,960 | ||||||
T. Rowe Price Group, Inc. | 1,027 | 166,518 | ||||||
White Mountains Insurance Group Ltd. | 15 | 17,926 | ||||||
|
| |||||||
(Cost $2,724,834) | 3,246,449 | |||||||
|
| |||||||
Health Care — 15.3% | ||||||||
AbbVie, Inc. | 4,389 | 472,871 | ||||||
ABIOMED, Inc.* | 63 | 20,447 | ||||||
Agilent Technologies, Inc. | 99 | 12,085 | ||||||
Alexion Pharmaceuticals, Inc.* | 702 | 107,230 | ||||||
Align Technology, Inc.* | 161 | 91,305 | ||||||
AmerisourceBergen Corp. | 768 | 77,737 | ||||||
Amgen, Inc. | 1,495 | 336,255 | ||||||
Anthem, Inc. | 680 | 206,169 | ||||||
Baxter International, Inc. | 232 | 18,024 | ||||||
Biogen, Inc.* | 1,112 | 303,443 | ||||||
Bio-Rad Laboratories, Inc., Class A* | 66 | 38,577 | ||||||
Bristol-Myers Squibb Co. | 1,385 | 84,942 | ||||||
Cardinal Health, Inc. | 1,283 | 66,100 | ||||||
Cerner Corp. | 792 | 54,759 | ||||||
Chemed Corp. | 36 | 16,028 |
Number | Value | |||||||
Health Care (Continued) | ||||||||
Cigna Corp. | 2,297 | $ | 482,140 | |||||
CVS Health Corp. | 3,756 | 255,896 | ||||||
DaVita, Inc.* | 338 | 34,520 | ||||||
Edwards Lifesciences Corp.* | 1,174 | 97,559 | ||||||
Eli Lilly and Co. | 1,620 | 331,922 | ||||||
Exelixis, Inc.* | 743 | 16,093 | ||||||
Gilead Sciences, Inc. | 684 | 41,998 | ||||||
HCA Healthcare, Inc.* | 417 | 71,736 | ||||||
Henry Schein, Inc.* | 534 | 33,028 | ||||||
Humana, Inc. | 744 | 282,460 | ||||||
Illumina, Inc.* | 222 | 97,549 | ||||||
Incyte Corp.* | 274 | 21,553 | ||||||
Intuitive Surgical, Inc.* | 158 | 116,414 | ||||||
Ionis Pharmaceuticals, Inc.*(a) | 181 | 9,484 | ||||||
Jazz Pharmaceuticals PLC* | 150 | 25,206 | ||||||
Johnson & Johnson | 6,995 | 1,108,428 | ||||||
McKesson Corp. | 1,172 | 198,677 | ||||||
Merck & Co., Inc. | 5,214 | 378,641 | ||||||
Mettler-Toledo International, Inc.* | 45 | 50,222 | ||||||
Regeneron Pharmaceuticals, Inc.* | 222 | 100,027 | ||||||
UnitedHealth Group, Inc. | 1,898 | 630,554 | ||||||
Universal Health Services, Inc., Class B* | 242 | 30,330 | ||||||
Varian Medical Systems, Inc.* | 177 | 31,023 | ||||||
Waters Corp.* | 185 | 50,668 | ||||||
West Pharmaceutical Services, Inc. | 134 | 37,607 | ||||||
|
| |||||||
(Cost $5,931,788) | 6,439,707 | |||||||
|
| |||||||
Industrials — 9.7% | ||||||||
3M Co. | 331 | 57,945 | ||||||
A O Smith Corp. | 608 | 36,097 | ||||||
Acuity Brands, Inc. (a) | 251 | 30,948 | ||||||
AECOM* | 251 | 14,530 | ||||||
AGCO Corp. | 251 | 32,499 | ||||||
Alaska Air Group, Inc.* | 821 | 53,381 | ||||||
Allegion PLC | 125 | 13,597 | ||||||
Allison Transmission Holdings, Inc. | 401 | 15,206 | ||||||
American Airlines Group, Inc.*(a) | 659 | 13,799 | ||||||
Boeing Co.* | 425 | 90,104 | ||||||
C.H. Robinson Worldwide, Inc. | 154 | 13,991 | ||||||
Carlisle Cos., Inc. | 133 | 19,318 | ||||||
Carrier Global Corp. | 4,587 | 167,563 | ||||||
Caterpillar, Inc. | 913 | 197,098 | ||||||
Copa Holdings SA, Class A* | 197 | 18,059 | ||||||
Copart, Inc.* | 419 | 45,738 | ||||||
Cummins, Inc. | 959 | 242,819 | ||||||
Curtiss-Wright Corp. | 86 | 9,502 | ||||||
Delta Air Lines, Inc.* | 4,367 | 209,354 | ||||||
Donaldson Co., Inc. | 255 | 15,022 | ||||||
Eaton Corp. PLC | 875 | 113,916 | ||||||
Emerson Electric Co. | 1,967 | 168,965 | ||||||
Expeditors International of Washington, Inc. | 630 | 57,859 | ||||||
Fastenal Co. | 1,432 | 66,402 | ||||||
FedEx Corp. | 478 | 121,651 | ||||||
Fortune Brands Home & Security, Inc. | 269 | 22,365 | ||||||
FTI Consulting, Inc.* | 82 | 9,393 | ||||||
Graco, Inc. | 445 | 30,861 |
See Notes to Financial Statements. | 36 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Industrials (Continued) | ||||||||
HEICO Corp., Class A | 110 | $ | 12,734 | |||||
Hexcel Corp.*(a) | 316 | 16,988 | ||||||
Honeywell International, Inc. | 321 | 64,954 | ||||||
Howmet Aerospace, Inc.* | 511 | 14,364 | ||||||
Hubbell, Inc. | 108 | 19,171 | ||||||
Huntington Ingalls Industries, Inc. | 176 | 30,960 | ||||||
IAA, Inc.* | 179 | 10,495 | ||||||
IDEX Corp. | 102 | 19,907 | ||||||
Illinois Tool Works, Inc. | 699 | 141,324 | ||||||
ITT, Inc. | 344 | 28,545 | ||||||
JB Hunt Transport Services, Inc. | 344 | 50,523 | ||||||
JetBlue Airways Corp.* | 1,692 | 31,184 | ||||||
Johnson Controls International PLC | 2,013 | 112,305 | ||||||
Knight-Swift Transportation Holdings, Inc. | 534 | 23,069 | ||||||
Landstar System, Inc. | 155 | 24,822 | ||||||
Leidos Holdings, Inc. | 179 | 15,833 | ||||||
Lincoln Electric Holdings, Inc. | 198 | 23,386 | ||||||
Lockheed Martin Corp. | 713 | 235,468 | ||||||
ManpowerGroup, Inc. | 224 | 21,155 | ||||||
Masco Corp. | 559 | 29,750 | ||||||
MSC Industrial Direct Co., Inc., Class A | 204 | 17,571 | ||||||
Old Dominion Freight Line, Inc. | 276 | 59,277 | ||||||
Oshkosh Corp. | 445 | 47,170 | ||||||
Otis Worldwide Corp. | 1,281 | 81,612 | ||||||
Owens Corning | 178 | 14,422 | ||||||
PACCAR, Inc. | 809 | 73,611 | ||||||
Parker-Hannifin Corp. | 260 | 74,610 | ||||||
Robert Half International, Inc. | 510 | 39,673 | ||||||
Rockwell Automation, Inc. | 344 | 83,688 | ||||||
Science Applications International Corp. | 180 | 15,503 | ||||||
Snap-on, Inc. | 189 | 38,388 | ||||||
Southwest Airlines Co. | 4,291 | 249,436 | ||||||
Spirit AeroSystems Holdings, Inc., Class A | 306 | 13,106 | ||||||
Stanley Black & Decker, Inc. | 227 | 39,689 | ||||||
Textron, Inc. | 440 | 22,150 | ||||||
Trane Technologies PLC | 389 | 59,610 | ||||||
Trex Co., Inc.*(a) | 159 | 14,571 | ||||||
Union Pacific Corp. | 252 | 51,902 | ||||||
United Airlines Holdings, Inc.* | 854 | 44,989 | ||||||
United Parcel Service, Inc., Class B | 448 | 70,708 | ||||||
United Rentals, Inc.*(a) | 202 | 60,071 | ||||||
Vertiv Holdings Co. | 559 | 11,700 | ||||||
W.W. Grainger, Inc. | 132 | 49,198 | ||||||
Watsco, Inc. | 84 | 20,420 | ||||||
Woodward, Inc. | 108 | 12,336 | ||||||
|
| |||||||
(Cost $3,545,665) | 4,080,330 | |||||||
|
| |||||||
Information Technology — 27.4% | ||||||||
Accenture PLC, Class A | 1,835 | 460,402 | ||||||
Adobe, Inc.* | 700 | 321,769 | ||||||
Amdocs Ltd. | 485 | 36,768 | ||||||
Apple, Inc. | 19,761 | 2,396,219 | ||||||
Applied Materials, Inc. | 1,308 | 154,593 | ||||||
Arista Networks, Inc.* | 139 | 38,898 | ||||||
Arrow Electronics, Inc.* | 154 | 15,440 |
Number | Value | |||||||
Information Technology (Continued) | ||||||||
Automatic Data Processing, Inc. | 998 | $ | 173,672 | |||||
Avnet, Inc. | 508 | 19,340 | ||||||
Broadridge Financial Solutions, Inc. | 322 | 45,882 | ||||||
Cadence Design Systems, Inc.* | 474 | 66,877 | ||||||
CDW Corp. | 200 | 31,378 | ||||||
Ciena Corp.* | 587 | 30,624 | ||||||
Cirrus Logic, Inc.* | 133 | 10,877 | ||||||
Cisco Systems, Inc. | 13,823 | 620,238 | ||||||
Citrix Systems, Inc. | 301 | 40,208 | ||||||
Cognizant Technology Solutions Corp., Class A | 2,520 | 185,170 | ||||||
Concentrix Corp.* | 127 | 15,686 | ||||||
Dolby Laboratories, Inc., Class A | 200 | 19,526 | ||||||
Enphase Energy, Inc.* | 155 | 27,289 | ||||||
F5 Networks, Inc.*(a) | 178 | 33,816 | ||||||
Fortinet, Inc.* | 244 | 41,199 | ||||||
Hewlett Packard Enterprise Co. | 2,816 | 41,001 | ||||||
HP, Inc. | 12,098 | 350,479 | ||||||
Intel Corp. | 21,664 | 1,316,738 | ||||||
International Business Machines Corp. | 68 | 8,087 | ||||||
Intuit, Inc. | 415 | 161,908 | ||||||
IPG Photonics Corp.* | 84 | 19,097 | ||||||
Jabil, Inc. | 755 | 32,593 | ||||||
Jack Henry & Associates, Inc. | 150 | 22,266 | ||||||
Keysight Technologies, Inc.* | 485 | 68,637 | ||||||
KLA Corp. | 91 | 28,322 | ||||||
Lam Research Corp. | 564 | 319,895 | ||||||
Manhattan Associates, Inc.* | 132 | 16,229 | ||||||
Mastercard, Inc., Class A | 2,073 | 733,531 | ||||||
Maxim Integrated Products, Inc. | 680 | 63,356 | ||||||
Micron Technology, Inc.* | 6,521 | 596,867 | ||||||
Microsoft Corp. | 35 | 8,133 | ||||||
National Instruments Corp. | 343 | 15,229 | ||||||
NetApp, Inc. | 1,147 | 71,802 | ||||||
NortonLifeLock, Inc. | 1,740 | 33,947 | ||||||
NVIDIA Corp. | 1,053 | 577,655 | ||||||
Oracle Corp. | 4,325 | 279,006 | ||||||
Paychex, Inc. | 792 | 72,127 | ||||||
PayPal Holdings, Inc.* | 383 | 99,523 | ||||||
Skyworks Solutions, Inc. | 579 | 102,958 | ||||||
SolarEdge Technologies, Inc.*(a) | 72 | 21,478 | ||||||
SYNNEX Corp. | 127 | 11,323 | ||||||
Synopsys, Inc.* | 201 | 49,287 | ||||||
Teradyne, Inc. | 533 | 68,549 | ||||||
Texas Instruments, Inc. | 2,925 | 503,890 | ||||||
Universal Display Corp. | 64 | 13,548 | ||||||
VeriSign, Inc.* | 179 | 34,731 | ||||||
Visa, Inc., Class A (a) | 4,177 | 887,153 | ||||||
Western Union Co. | 2,946 | 68,406 | ||||||
Xerox Holdings Corp. | 509 | 12,969 | ||||||
Xilinx, Inc. | 556 | 72,447 | ||||||
|
| |||||||
(Cost $9,370,577) | 11,569,038 | |||||||
|
| |||||||
Materials — 2.2% | ||||||||
Air Products and Chemicals, Inc. | 465 | 118,863 | ||||||
Cabot Corp. | 246 | 12,111 | ||||||
Celanese Corp. | 323 | 44,868 |
See Notes to Financial Statements. | 37 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Materials (Continued) | ||||||||
CF Industries Holdings, Inc. | 538 | $ | 24,361 | |||||
Corteva, Inc. | 1,292 | 58,334 | ||||||
Dow, Inc. | 1,716 | 101,776 | ||||||
DuPont de Nemours, Inc. | 271 | 19,057 | ||||||
International Paper Co. | 973 | 48,309 | ||||||
Linde PLC | 747 | 182,470 | ||||||
LyondellBasell Industries NV, Class A | 1,143 | 117,832 | ||||||
Nucor Corp. | 1,198 | 71,664 | ||||||
Packaging Corp. of America | 256 | 33,797 | ||||||
PPG Industries, Inc. | 101 | 13,617 | ||||||
Reliance Steel & Aluminum Co. | 356 | 47,063 | ||||||
Scotts Miracle-Gro Co. | 62 | 13,215 | ||||||
Steel Dynamics, Inc. | 716 | 29,771 | ||||||
|
| |||||||
(Cost $815,116) | 937,108 | |||||||
|
| |||||||
Real Estate — 1.4% | ||||||||
Apartment Income REIT Corp. REIT | 464 | 18,968 | ||||||
Apartment Investment and Management Co., Class A REIT | 449 | 2,137 | ||||||
CBRE Group, Inc., Class A* | 2,097 | 158,890 | ||||||
Equity Commonwealth REIT | 382 | 10,776 | ||||||
Healthpeak Properties, Inc. REIT | 292 | 8,494 | ||||||
Host Hotels & Resorts, Inc. REIT | 3,301 | 54,764 | ||||||
Jones Lang LaSalle, Inc.* | 131 | 22,792 | ||||||
Lamar Advertising Co., Class A REIT | 158 | 13,681 | ||||||
Medical Properties Trust, Inc. REIT | 651 | 14,055 | ||||||
Public Storage REIT | 464 | 108,548 | ||||||
Simon Property Group, Inc. REIT | 1,147 | 129,519 | ||||||
Vornado Realty Trust REIT | 1,194 | 51,271 | ||||||
Weingarten Realty Investors REIT | 654 | 16,605 | ||||||
|
| |||||||
(Cost $644,200) | 610,500 | |||||||
|
|
Number | Value | |||||||
Utilities — 0.6% | ||||||||
AES Corp. | 1,076 | $ | 28,579 | |||||
Evergy, Inc. | 377 | 20,218 | ||||||
Exelon Corp. | 1,811 | 69,905 | ||||||
NRG Energy, Inc. | 1,689 | 61,665 | ||||||
Public Service Enterprise Group, Inc. | 653 | 35,151 | ||||||
Vistra Corp. | 1,636 | 28,221 | ||||||
|
| |||||||
(Cost $255,805) | 243,739 | |||||||
|
| |||||||
TOTAL COMMON STOCKS | 41,598,145 | |||||||
|
| |||||||
SECURITIES LENDING COLLATERAL — 0.0% | ||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (b)(c) | 6,665 | 6,665 | ||||||
|
| |||||||
CASH EQUIVALENTS — 1.2% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (b) | 495,312 | 495,312 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 99.8% | $ | 42,100,122 | ||||||
Other assets and liabilities, net — 0.2% | 83,723 | |||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 42,183,845 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2021 is as follows:
Value ($) at 8/31/2020 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2021 | Value ($) at 2/28/2021 | ||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 0.0% |
| |||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (b)(c) |
| |||||||||||||||||||||||||||||||||||
37,088 | — | (30,423 | )(d) | — | — | 2 | — | 6,665 | 6,665 | |||||||||||||||||||||||||||
CASH EQUIVALENTS —1.2% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (b) |
| |||||||||||||||||||||||||||||||||||
483,373 | 1,234,293 | (1,222,354 | ) | — | — | 96 | — | 495,312 | 495,312 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
520,461 | 1,234,293 | (1,252,777 | ) | — | — | 98 | — | 501,977 | 501,977 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* | 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, 2021 amounted to $1,236,635, which is 2.9% of net assets. |
(b) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
(c) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund held non-cash U.S. Treasury securities collateral having a value of $1,258,067. |
(d) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2021. |
See Notes to Financial Statements. | 38 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (Continued)
February 28, 2021 (Unaudited)
REIT: | Real Estate Investment Trust |
At February 28, 2021, open futures contracts purchased were as follows:
Contract Description | Currency | Number of Contracts | Notional Amount | Contract Value | Expiration Date | Unrealized Appreciation | ||||||||||||
E-Mini S&P 500 Futures | USD | 3 | $ | 554,327 | $571,380 | 3/19/2021 | $ | 17,053 |
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 |
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, 2021 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) | $ | 41,598,145 | $ | — | $ | — | $ | 41,598,145 | ||||||||
Short-Term Investments (e) | 501,977 | — | — | 501,977 | ||||||||||||
Derivatives (f) | ||||||||||||||||
Futures Contracts | 17,053 | — | — | 17,053 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 42,117,175 | $ | — | $ | — | $ | 42,117,175 | ||||||||
|
|
|
|
|
|
|
|
(e) | See Schedule of Investments for additional detailed categorizations. |
(f) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
See Notes to Financial Statements. | 39 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell US Multifactor ETF
February 28, 2021 (Unaudited)
Number | Value | |||||||
COMMON STOCKS — 98.9% | ||||||||
Communication Services — 4.1% | ||||||||
Activision Blizzard, Inc. | 4,063 | $ | 388,463 | |||||
Alphabet, Inc., Class A* | 54 | 109,183 | ||||||
Alphabet, Inc., Class C* | 57 | 116,101 | ||||||
Altice USA, Inc., Class A* | 4,884 | 164,151 | ||||||
AT&T, Inc. | 3,470 | 96,778 | ||||||
Cable One, Inc. | 103 | 197,229 | ||||||
Charter Communications, Inc., Class A* | 258 | 158,262 | ||||||
Comcast Corp., Class A | 3,024 | 159,425 | ||||||
Discovery, Inc., Class A* | 1,864 | 98,848 | ||||||
Discovery, Inc., Class C* | 3,517 | 158,265 | ||||||
DISH Network Corp., Class A*(a) | 3,256 | 102,597 | ||||||
Electronic Arts, Inc. | 4,821 | 645,869 | ||||||
Facebook, Inc., Class A* | 288 | 74,195 | ||||||
Fox Corp., Class A | 3,291 | 109,623 | ||||||
Fox Corp., Class B | 1,602 | 51,152 | ||||||
IAC/InterActiveCorp* | 3,970 | 971,975 | ||||||
Interpublic Group of Cos., Inc. (a) | 18,476 | 482,593 | ||||||
John Wiley & Sons, Inc., Class A (a) | 873 | 45,990 | ||||||
Liberty Broadband Corp., Class A* | 80 | 11,629 | ||||||
Liberty Broadband Corp., Class C* | 3,547 | 530,312 | ||||||
Liberty Media Corp.-Liberty Formula One, Class C* | 561 | 24,628 | ||||||
Liberty Media Corp-Liberty SiriusXM, Class A* | 1,115 | 49,517 | ||||||
Liberty Media Corp-Liberty SiriusXM, Class C* | 2,382 | 105,094 | ||||||
Lumen Technologies, Inc. (a) | 12,846 | 157,877 | ||||||
Madison Square Garden Entertainment Corp.* | 581 | 62,614 | ||||||
Madison Square Garden Sports Corp.* | 88 | 16,927 | ||||||
Match Group, Inc.*(a) | 1,542 | 235,695 | ||||||
Netflix, Inc.* | 16 | 8,622 | ||||||
New York Times Co., Class A | 6,999 | 358,139 | ||||||
News Corp., Class A | 5,988 | 140,419 | ||||||
News Corp., Class B | 2,714 | 62,205 | ||||||
Nexstar Media Group, Inc., Class A | 172 | 23,659 | ||||||
Omnicom Group, Inc. | 3,954 | 271,758 | ||||||
Sirius XM Holdings, Inc. (a) | 7,550 | 44,167 | ||||||
Spotify Technology SA* | 403 | 123,874 | ||||||
Take-Two Interactive Software, Inc.* | 2,519 | 464,655 | ||||||
Telephone and Data Systems, Inc. | 2,062 | 36,889 | ||||||
T-Mobile US, Inc.* | 432 | 51,827 | ||||||
TripAdvisor, Inc.* | 856 | 42,475 | ||||||
Twitter, Inc.* | 1,481 | 114,126 | ||||||
United States Cellular Corp.* | 305 | 8,976 | ||||||
Verizon Communications, Inc. | 2,536 | 140,241 | ||||||
ViacomCBS, Inc., Class B | 1,041 | 67,134 | ||||||
Walt Disney Co.* | 120 | 22,685 | ||||||
Zynga, Inc., Class A* | 11,180 | 124,657 | ||||||
|
| |||||||
(Cost $5,698,997) | 7,431,500 | |||||||
|
| |||||||
Consumer Discretionary — 10.0% | ||||||||
Advance Auto Parts, Inc. | 2,164 | 346,997 | ||||||
Amazon.com, Inc.* | 26 | 80,416 | ||||||
Aptiv PLC* | 898 | 134,556 | ||||||
AutoNation, Inc.*(a) | 2,266 | 169,995 |
Number | Value | |||||||
Consumer Discretionary (Continued) | ||||||||
AutoZone, Inc.* | 299 | $ | 346,816 | |||||
Best Buy Co., Inc. | 6,433 | 645,552 | ||||||
Booking Holdings, Inc.* | 144 | 335,305 | ||||||
BorgWarner, Inc. | 5,149 | 231,705 | ||||||
Bright Horizons Family Solutions, Inc.*(a) | 579 | 92,443 | ||||||
Brunswick Corp. | 1,371 | 121,155 | ||||||
Burlington Stores, Inc.* | 671 | 173,668 | ||||||
CarMax, Inc.* | 1,308 | 156,319 | ||||||
Carter’s, Inc. | 919 | 76,709 | ||||||
Chegg, Inc.*(a) | 224 | 21,623 | ||||||
Chipotle Mexican Grill, Inc.* | 125 | 180,250 | ||||||
Choice Hotels International, Inc. (a) | 589 | 61,768 | ||||||
Columbia Sportswear Co. (a) | 823 | 84,827 | ||||||
D.R. Horton, Inc. | 8,168 | 627,874 | ||||||
Dick’s Sporting Goods, Inc. | 1,450 | 103,487 | ||||||
Dollar General Corp. | 1,592 | 300,872 | ||||||
Dollar Tree, Inc.* | 1,058 | 103,896 | ||||||
Domino’s Pizza, Inc. | 1,253 | 434,177 | ||||||
eBay, Inc. | 20,806 | 1,173,875 | ||||||
Expedia Group, Inc. | 1,520 | 244,720 | ||||||
Extended Stay America, Inc. | 2,589 | 41,657 | ||||||
Five Below, Inc.*(a) | 350 | 65,142 | ||||||
Floor & Decor Holdings, Inc., Class A* | 447 | 42,505 | ||||||
Foot Locker, Inc. (a) | 3,057 | 147,011 | ||||||
Ford Motor Co.* | 28,859 | 337,650 | ||||||
frontdoor, Inc.* | 966 | 50,589 | ||||||
Gap, Inc.* | 2,558 | 63,822 | ||||||
Garmin Ltd. | 3,849 | 477,353 | ||||||
General Motors Co. | 6,330 | 324,919 | ||||||
Gentex Corp. | 14,785 | 523,093 | ||||||
Genuine Parts Co. | 2,396 | 252,419 | ||||||
Graham Holdings Co., Class B | 57 | 34,247 | ||||||
Grand Canyon Education, Inc.* | 1,544 | 161,641 | ||||||
Grubhub, Inc.* | 718 | 46,002 | ||||||
H&R Block, Inc. | 990 | 19,038 | ||||||
Hanesbrands, Inc. (a) | 9,177 | 162,341 | ||||||
Harley-Davidson, Inc. (a) | 2,976 | 106,154 | ||||||
Hasbro, Inc. | 1,139 | 106,736 | ||||||
Hilton Worldwide Holdings, Inc.* | 1,167 | 144,335 | ||||||
Home Depot, Inc. | 383 | 98,944 | ||||||
Hyatt Hotels Corp., Class A*(a) | 599 | 52,682 | ||||||
Las Vegas Sands Corp. | 1,021 | 63,915 | ||||||
Lear Corp. | 1,506 | 250,132 | ||||||
Leggett & Platt, Inc. (a) | 1,882 | 81,434 | ||||||
Lennar Corp., Class A | 3,956 | 328,229 | ||||||
Lennar Corp., Class B | 498 | 32,948 | ||||||
LKQ Corp.* | 5,580 | 219,796 | ||||||
Lowe’s Cos., Inc. | 1,089 | 173,968 | ||||||
Lululemon Athletica, Inc.* | 523 | 163,009 | ||||||
Marriott International, Inc., Class A* | 255 | 37,758 | ||||||
Mattel, Inc.*(a) | 1,171 | 23,654 | ||||||
McDonald’s Corp. | 519 | 106,987 | ||||||
Mohawk Industries, Inc.* | 1,132 | 198,089 | ||||||
Newell Brands, Inc. | 9,279 | 214,994 | ||||||
NIKE, Inc., Class B | 392 | 52,834 | ||||||
NVR, Inc.* | 118 | 531,099 | ||||||
Ollie’s Bargain Outlet Holdings, Inc.*(a) | 1,352 | 111,783 |
See Notes to Financial Statements. | 40 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Consumer Discretionary (Continued) | ||||||||
O’Reilly Automotive, Inc.* | 679 | $ | 303,737 | |||||
Polaris, Inc. | 1,392 | 163,922 | ||||||
Pool Corp. | 1,236 | 413,776 | ||||||
PulteGroup, Inc. | 7,217 | 325,559 | ||||||
PVH Corp. | 181 | 18,093 | ||||||
Qurate Retail, Inc., Series A | 11,572 | 143,724 | ||||||
Ralph Lauren Corp. | 569 | 66,619 | ||||||
Ross Stores, Inc. | 2,282 | 266,172 | ||||||
Service Corp. International | 4,575 | 218,502 | ||||||
Skechers U.S.A., Inc., Class A* | 1,061 | 38,833 | ||||||
Starbucks Corp. | 151 | 16,313 | ||||||
Tapestry, Inc. | 459 | 19,342 | ||||||
Target Corp. | 3,864 | 708,812 | ||||||
Terminix Global Holdings, Inc.* | 2,372 | 106,764 | ||||||
Thor Industries, Inc. (a) | 1,452 | 169,971 | ||||||
TJX Cos., Inc. | 4,740 | 312,793 | ||||||
Toll Brothers, Inc. | 1,817 | 97,064 | ||||||
Tractor Supply Co. (a) | 4,743 | 753,947 | ||||||
Travel + Leisure Co. | 915 | 55,293 | ||||||
Ulta Beauty, Inc.* | 443 | 142,792 | ||||||
Vail Resorts, Inc. | 387 | 119,653 | ||||||
VF Corp. | 699 | 55,312 | ||||||
Wendy’s Co. | 605 | 12,360 | ||||||
Whirlpool Corp. (a) | 3,339 | 634,677 | ||||||
Williams-Sonoma, Inc. (a) | 1,856 | 243,674 | ||||||
Yum China Holdings, Inc. | 5,995 | 358,741 | ||||||
Yum! Brands, Inc. | 3,321 | 343,823 | ||||||
|
| |||||||
(Cost $14,174,531) | 18,208,182 | |||||||
|
| |||||||
Consumer Staples — 5.6% | ||||||||
Altria Group, Inc. | 3,334 | 145,362 | ||||||
Archer-Daniels-Midland Co. | 627 | 35,476 | ||||||
Boston Beer Co., Inc., Class A* | 115 | 118,302 | ||||||
Brown-Forman Corp., Class A | 529 | 35,226 | ||||||
Brown-Forman Corp., Class B | 1,646 | 117,821 | ||||||
Campbell Soup Co. (a) | 5,443 | 247,548 | ||||||
Casey’s General Stores, Inc. (a) | 1,857 | 375,040 | ||||||
Church & Dwight Co., Inc. | 5,404 | 425,565 | ||||||
Clorox Co. (a) | 4,687 | 848,581 | ||||||
Coca-Cola Co. | 1,481 | 72,554 | ||||||
Colgate-Palmolive Co. | 4,355 | 327,496 | ||||||
Conagra Brands, Inc. | 12,818 | 434,915 | ||||||
Constellation Brands, Inc., Class A | 978 | 209,429 | ||||||
Costco Wholesale Corp. | 1,021 | 337,951 | ||||||
Energizer Holdings, Inc. (a) | 1,013 | 42,343 | ||||||
Estee Lauder Cos., Inc., Class A | 758 | 216,682 | ||||||
Flowers Foods, Inc. (a) | 10,410 | 226,418 | ||||||
General Mills, Inc. | 13,205 | 726,407 | ||||||
Hain Celestial Group, Inc.* | 4,237 | 178,717 | ||||||
Herbalife Nutrition Ltd.* | 2,249 | 101,160 | ||||||
Hershey Co. | 2,973 | 433,018 | ||||||
Hormel Foods Corp. (a) | 7,190 | 333,400 | ||||||
Ingredion, Inc. | 3,202 | 288,820 | ||||||
J M Smucker Co. (a) | 4,951 | 554,512 | ||||||
Kellogg Co. (a) | 3,738 | 215,720 | ||||||
Keurig Dr Pepper, Inc. (a) | 2,014 | 61,467 | ||||||
Kimberly-Clark Corp. | 3,293 | 422,591 |
Number | Value | |||||||
Consumer Staples (Continued) | ||||||||
Kraft Heinz Co. | 4,760 | $ | 173,169 | |||||
Kroger Co. (a) | 6,264 | 201,763 | ||||||
Lamb Weston Holdings, Inc. | 960 | 76,579 | ||||||
McCormick & Co., Inc. | 3,161 | 266,409 | ||||||
Molson Coors Beverage Co., Class B (a) | 3,241 | 144,062 | ||||||
Mondelez International, Inc., Class A | 4,281 | 227,578 | ||||||
Monster Beverage Corp.* | 4,070 | 357,102 | ||||||
Nu Skin Enterprises, Inc., Class A (a) | 617 | 31,578 | ||||||
PepsiCo, Inc. | 817 | 105,548 | ||||||
Philip Morris International, Inc. | 3,138 | 263,655 | ||||||
Post Holdings, Inc.* | 969 | 93,082 | ||||||
Procter & Gamble Co. | 627 | 77,453 | ||||||
Reynolds Consumer Products, Inc. (a) | 1,011 | 27,914 | ||||||
Seaboard Corp. | 9 | 29,818 | ||||||
Spectrum Brands Holdings, Inc. | 819 | 63,513 | ||||||
Sprouts Farmers Market, Inc.*(a) | 5,177 | 109,287 | ||||||
Sysco Corp. | 752 | 59,882 | ||||||
TreeHouse Foods, Inc.*(a) | 292 | 14,606 | ||||||
Tyson Foods, Inc., Class A | 2,343 | 158,551 | ||||||
Walgreens Boots Alliance, Inc. | 1,201 | 57,564 | ||||||
Walmart, Inc. | 345 | 44,822 | ||||||
|
| |||||||
(Cost $9,646,515) | 10,116,456 | |||||||
|
| |||||||
Energy — 0.9% | ||||||||
Baker Hughes Co. | 3,003 | 73,513 | ||||||
Cabot Oil & Gas Corp. (a) | 27,293 | 505,193 | ||||||
Cheniere Energy, Inc.* | 1,420 | 95,694 | ||||||
Chevron Corp. | 1,121 | 112,100 | ||||||
ConocoPhillips | 3,479 | 180,943 | ||||||
EOG Resources, Inc. | 1,485 | 95,872 | ||||||
EQT Corp.* | 2,052 | 36,505 | ||||||
Exxon Mobil Corp. | 1,189 | 64,646 | ||||||
Hess Corp. | 253 | 16,579 | ||||||
HollyFrontier Corp. (a) | 385 | 14,584 | ||||||
Kinder Morgan, Inc. | 3,651 | 53,670 | ||||||
Marathon Petroleum Corp. | 1,909 | 104,269 | ||||||
Phillips 66 | 692 | 57,471 | ||||||
Pioneer Natural Resources Co. | 939 | 139,507 | ||||||
Schlumberger N.V. | 274 | 7,647 | ||||||
Valero Energy Corp. | 563 | 43,340 | ||||||
Williams Cos., Inc. | 1,219 | 27,842 | ||||||
|
| |||||||
(Cost $1,440,775) | 1,629,375 | |||||||
|
| |||||||
Financials — 11.5% | ||||||||
Affiliated Managers Group, Inc. (a) | 327 | 45,770 | ||||||
Aflac, Inc. | 3,230 | 154,685 | ||||||
AGNC Investment Corp. REIT | 4,533 | 72,664 | ||||||
Alleghany Corp. | 225 | 145,447 | ||||||
Allstate Corp. | 5,008 | 533,853 | ||||||
Ally Financial, Inc. | 2,341 | 97,152 | ||||||
American Express Co. | 1,045 | 141,347 | ||||||
American Financial Group, Inc. | 368 | 39,266 | ||||||
American International Group, Inc. | 612 | 26,897 | ||||||
American National Group, Inc. | 314 | 28,266 | ||||||
Ameriprise Financial, Inc. | 888 | 196,461 | ||||||
Aon PLC, Class A (a) | 1,100 | 250,481 | ||||||
Apollo Global Management, Inc. | 6,230 | 308,136 |
See Notes to Financial Statements. | 41 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Financials (Continued) | ||||||||
Arch Capital Group Ltd.* | 7,671 | $ | 274,775 | |||||
Arthur J Gallagher & Co. | 3,268 | 391,506 | ||||||
Associated Banc-Corp. | 1,484 | 29,903 | ||||||
Assurant, Inc. | 1,086 | 133,817 | ||||||
Axis Capital Holdings Ltd. | 1,090 | 55,078 | ||||||
Bank of America Corp. | 818 | 28,393 | ||||||
Bank of Hawaii Corp. (a) | 466 | 40,775 | ||||||
Bank of New York Mellon Corp. | 1,520 | 64,083 | ||||||
Bank OZK (a) | 810 | 33,388 | ||||||
Berkshire Hathaway, Inc., Class B* | 1,053 | 253,257 | ||||||
BlackRock, Inc. | 214 | 148,623 | ||||||
Brown & Brown, Inc. | 7,346 | 337,181 | ||||||
Capital One Financial Corp. | 1,612 | 193,746 | ||||||
Carlyle Group, Inc. | 922 | 31,579 | ||||||
Cboe Global Markets, Inc. (a) | 1,544 | 152,794 | ||||||
Charles Schwab Corp. | 829 | 51,166 | ||||||
Chubb Ltd. | 1,270 | 206,477 | ||||||
Cincinnati Financial Corp. (a) | 4,381 | 428,768 | ||||||
Citigroup, Inc. | 424 | 27,933 | ||||||
Citizens Financial Group, Inc. | 1,455 | 63,205 | ||||||
CME Group, Inc. | 346 | 69,096 | ||||||
CNA Financial Corp. | 587 | 24,971 | ||||||
Comerica, Inc. | 404 | 27,512 | ||||||
Commerce Bancshares, Inc. (a) | 1,384 | 102,458 | ||||||
Credit Acceptance Corp.*(a) | 174 | 63,165 | ||||||
Cullen/Frost Bankers, Inc. (a) | 524 | 54,706 | ||||||
Discover Financial Services | 1,261 | 118,622 | ||||||
East West Bancorp, Inc. | 1,412 | 101,890 | ||||||
Eaton Vance Corp. | 4,855 | 354,755 | ||||||
Erie Indemnity Co., Class A (a) | 1,545 | 374,045 | ||||||
Evercore, Inc., Class A | 3,894 | 466,384 | ||||||
Everest Re Group Ltd. | 1,153 | 278,807 | ||||||
FactSet Research Systems, Inc. | 1,598 | 485,648 | ||||||
Fidelity National Financial, Inc. | 9,257 | 354,358 | ||||||
Fifth Third Bancorp | 2,337 | 81,071 | ||||||
First American Financial Corp. | 5,122 | 269,110 | ||||||
First Citizens BancShares, Inc., Class A | 93 | 68,624 | ||||||
First Hawaiian, Inc. (a) | 907 | 25,296 | ||||||
First Horizon Corp. | 1,800 | 29,160 | ||||||
First Republic Bank | 724 | 119,279 | ||||||
FNB Corp. | 1,900 | 22,477 | ||||||
Franklin Resources, Inc. (a) | 4,282 | 112,060 | ||||||
Globe Life, Inc. | 1,983 | 185,212 | ||||||
Goldman Sachs Group, Inc. | 511 | 163,254 | ||||||
Hanover Insurance Group, Inc. | 1,367 | 157,683 | ||||||
Hartford Financial Services Group, Inc. | 3,553 | 180,102 | ||||||
Huntington Bancshares, Inc. (a) | 4,990 | 76,547 | ||||||
Interactive Brokers Group, Inc., Class A (a) | 1,251 | 90,560 | ||||||
Intercontinental Exchange, Inc. | 1,145 | 126,305 | ||||||
Invesco Ltd. | 4,916 | 110,217 | ||||||
Jefferies Financial Group, Inc. | 7,448 | 216,290 | ||||||
JPMorgan Chase & Co. | 164 | 24,136 | ||||||
Kemper Corp. | 2,641 | 199,712 | ||||||
KeyCorp | 3,180 | 64,045 | ||||||
KKR & Co., Inc. | 2,392 | 108,980 | ||||||
Lazard Ltd., Class A | 5,740 | 222,081 | ||||||
Loews Corp. | 2,018 | 96,481 |
Number | Value | |||||||
Financials (Continued) | ||||||||
LPL Financial Holdings, Inc. | 2,273 | $ | 298,990 | |||||
M&T Bank Corp. | 560 | 84,526 | ||||||
Markel Corp.* | 401 | 436,609 | ||||||
MarketAxess Holdings, Inc. | 737 | 409,728 | ||||||
Marsh & McLennan Cos., Inc. | 2,839 | 327,110 | ||||||
Mercury General Corp. | 2,426 | 141,678 | ||||||
MetLife, Inc. | 2,073 | 119,405 | ||||||
MGIC Investment Corp. | 8,986 | 109,449 | ||||||
Moody’s Corp. | 1,194 | 328,219 | ||||||
Morgan Stanley | 1,297 | 99,700 | ||||||
Morningstar, Inc. | 1,018 | 228,287 | ||||||
MSCI, Inc. | 1,345 | 557,529 | ||||||
Nasdaq, Inc. | 2,385 | 329,822 | ||||||
New York Community Bancorp, Inc. | 3,139 | 38,327 | ||||||
Northern Trust Corp. | 930 | 88,471 | ||||||
Old Republic International Corp. | 13,871 | 268,126 | ||||||
PacWest Bancorp | 389 | 14,097 | ||||||
People’s United Financial, Inc. | 3,015 | 54,089 | ||||||
Pinnacle Financial Partners, Inc. | 562 | 45,618 | ||||||
PNC Financial Services Group, Inc. | 576 | 96,975 | ||||||
Popular, Inc. | 760 | 50,783 | ||||||
Primerica, Inc. | 860 | 121,458 | ||||||
Principal Financial Group, Inc. | 1,828 | 103,428 | ||||||
Progressive Corp. | 18,847 | 1,619,900 | ||||||
Prosperity Bancshares, Inc. | 524 | 38,498 | ||||||
Prudential Financial, Inc. | 999 | 86,633 | ||||||
Raymond James Financial, Inc. | 2,120 | 247,489 | ||||||
Regions Financial Corp. | 3,892 | 80,292 | ||||||
Reinsurance Group of America, Inc. | 471 | 57,570 | ||||||
RenaissanceRe Holdings Ltd. | 1,358 | 226,759 | ||||||
Rocket Cos., Inc., Class A*(a) | 8,304 | 181,442 | ||||||
S&P Global, Inc. | 1,062 | 349,780 | ||||||
SEI Investments Co. | 3,619 | 202,664 | ||||||
Signature Bank | 273 | 59,607 | ||||||
SLM Corp. | 7,622 | 120,351 | ||||||
Starwood Property Trust, Inc. REIT (a) | 915 | 20,889 | ||||||
State Street Corp. | 1,399 | 101,805 | ||||||
SVB Financial Group* | 310 | 156,662 | ||||||
Synchrony Financial | 6,143 | 237,611 | ||||||
Synovus Financial Corp. | 485 | 20,520 | ||||||
T. Rowe Price Group, Inc. | 4,990 | 809,079 | ||||||
TCF Financial Corp. | 222 | 9,950 | ||||||
Tradeweb Markets, Inc., Class A (a) | 1,614 | 117,483 | ||||||
Travelers Cos., Inc. | 2,591 | 376,991 | ||||||
Truist Financial Corp. | 727 | 41,410 | ||||||
Umpqua Holdings Corp. | 673 | 11,488 | ||||||
Unum Group | 1,340 | 35,483 | ||||||
US Bancorp | 1,374 | 68,700 | ||||||
Voya Financial, Inc. | 600 | 36,168 | ||||||
W.R. Berkley Corp. | 2,486 | 172,354 | ||||||
Webster Financial Corp. | 558 | 30,863 | ||||||
Wells Fargo & Co. | 622 | 22,498 | ||||||
Western Alliance Bancorp | 752 | 68,816 | ||||||
White Mountains Insurance Group Ltd. | 160 | 191,210 | ||||||
Willis Towers Watson PLC | 852 | 187,985 | ||||||
Zions Bancorp NA | 1,197 | 63,645 | ||||||
|
| |||||||
(Cost $17,250,406) | 21,016,990 | |||||||
|
|
See Notes to Financial Statements. | 42 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Health Care — 13.8% | ||||||||
Abbott Laboratories | 1,119 | $ | 134,034 | |||||
AbbVie, Inc. | 1,858 | 200,181 | ||||||
ABIOMED, Inc.* | 845 | 274,245 | ||||||
Acadia Healthcare Co., Inc.*(a) | 1,055 | 58,278 | ||||||
Agilent Technologies, Inc. | 3,400 | 415,038 | ||||||
Alexion Pharmaceuticals, Inc.* | 4,585 | 700,359 | ||||||
Align Technology, Inc.* | 337 | 191,116 | ||||||
Amedisys, Inc.* | 668 | 169,432 | ||||||
AmerisourceBergen Corp. | 2,776 | 280,987 | ||||||
Amgen, Inc. | 863 | 194,106 | ||||||
Anthem, Inc. | 1,645 | 498,748 | ||||||
Baxter International, Inc. | 3,139 | 243,869 | ||||||
Becton Dickinson and Co. | 338 | 81,509 | ||||||
Biogen, Inc.* | 1,093 | 298,258 | ||||||
BioMarin Pharmaceutical, Inc.* | 280 | 21,680 | ||||||
Bio-Rad Laboratories, Inc., Class A* | 1,843 | 1,077,233 | ||||||
Bio-Techne Corp. | 1,099 | 397,497 | ||||||
Boston Scientific Corp.* | 509 | 19,739 | ||||||
Bruker Corp. | 1,677 | 102,263 | ||||||
Cardinal Health, Inc. | 8,165 | 420,661 | ||||||
Catalent, Inc.* | 1,410 | 160,331 | ||||||
Centene Corp.* | 5,977 | 349,894 | ||||||
Cerner Corp. | 6,113 | 422,653 | ||||||
Charles River Laboratories International, Inc.* | 1,036 | 296,441 | ||||||
Chemed Corp. | 723 | 321,887 | ||||||
Cigna Corp. | 3,277 | 687,842 | ||||||
Cooper Cos., Inc. | 715 | 276,083 | ||||||
CVS Health Corp. | 6,118 | 416,819 | ||||||
Danaher Corp. | 826 | 181,447 | ||||||
DaVita, Inc.* | 7,557 | 771,796 | ||||||
DENTSPLY SIRONA, Inc. | 3,020 | 160,271 | ||||||
DexCom, Inc.* | 63 | 25,060 | ||||||
Edwards Lifesciences Corp.* | 2,756 | 229,024 | ||||||
Elanco Animal Health, Inc.* | 821 | 26,978 | ||||||
Eli Lilly and Co. | 1,709 | 350,157 | ||||||
Encompass Health Corp. | 3,226 | 259,499 | ||||||
Envista Holdings Corp.*(a) | 186 | 7,168 | ||||||
Exelixis, Inc.* | 2,083 | 45,118 | ||||||
Gilead Sciences, Inc. | 4,501 | 276,361 | ||||||
Globus Medical, Inc., Class A* | 1,804 | 112,750 | ||||||
Haemonetics Corp.* | 721 | 91,207 | ||||||
HCA Healthcare, Inc.* | 1,190 | 204,716 | ||||||
Henry Schein, Inc.* | 8,758 | 541,682 | ||||||
Hill-Rom Holdings, Inc. | 1,164 | 124,164 | ||||||
Hologic, Inc.* | 8,468 | 610,458 | ||||||
Horizon Therapeutics PLC* | 1,274 | 115,819 | ||||||
Humana, Inc. | 2,386 | 905,845 | ||||||
ICU Medical, Inc.* | 548 | 113,710 | ||||||
IDEXX Laboratories, Inc.* | 893 | 464,512 | ||||||
Illumina, Inc.* | 362 | 159,066 | ||||||
Incyte Corp.* | 1,098 | 86,369 | ||||||
Insulet Corp.* | 421 | 109,081 | ||||||
Integra LifeSciences Holdings Corp.* | 855 | 58,431 | ||||||
Intuitive Surgical, Inc.* | 343 | 252,722 | ||||||
Ionis Pharmaceuticals, Inc.*(a) | 384 | 20,122 | ||||||
IQVIA Holdings, Inc.* | 863 | 166,378 |
Number | Value | |||||||
Health Care (Continued) | ||||||||
Jazz Pharmaceuticals PLC* | 2,114 | $ | 355,237 | |||||
Johnson & Johnson | 420 | 66,553 | ||||||
Laboratory Corp. of America Holdings* | 1,905 | 457,029 | ||||||
Masimo Corp.* | 1,545 | 387,378 | ||||||
McKesson Corp. | 8,828 | 1,496,523 | ||||||
Medtronic PLC | 779 | 91,120 | ||||||
Merck & Co., Inc. | 1,334 | 96,875 | ||||||
Mettler-Toledo International, Inc.* | 440 | 491,062 | ||||||
Molina Healthcare, Inc.* | 1,218 | 264,014 | ||||||
Neurocrine Biosciences, Inc.* | 93 | 10,184 | ||||||
Penumbra, Inc.* | 608 | 172,933 | ||||||
PerkinElmer, Inc. | 1,545 | 194,809 | ||||||
Perrigo Co. PLC (a) | 1,218 | 49,158 | ||||||
Pfizer, Inc. | 3,144 | 105,293 | ||||||
PPD, Inc.* | 1,773 | 62,161 | ||||||
PRA Health Sciences, Inc.* | 1,143 | 168,490 | ||||||
Premier, Inc., Class A | 4,776 | 161,524 | ||||||
QIAGEN NV* | 2,291 | 114,550 | ||||||
Quest Diagnostics, Inc. | 4,568 | 528,015 | ||||||
Quidel Corp.*(a) | 274 | 45,007 | ||||||
Regeneron Pharmaceuticals, Inc.* | 780 | 351,445 | ||||||
Repligen Corp.* | 387 | 82,195 | ||||||
ResMed, Inc. | 2,378 | 458,431 | ||||||
Royalty Pharma PLC, Class A (a) | 2,407 | 112,094 | ||||||
Seagen, Inc.* | 271 | 40,951 | ||||||
STERIS PLC | 2,525 | 441,370 | ||||||
Stryker Corp. | 621 | 150,710 | ||||||
Syneos Health, Inc.* | 419 | 32,410 | ||||||
Teleflex, Inc. | 366 | 145,712 | ||||||
Thermo Fisher Scientific, Inc. | 256 | 115,220 | ||||||
United Therapeutics Corp.* | 110 | 18,390 | ||||||
UnitedHealth Group, Inc. | 325 | 107,972 | ||||||
Universal Health Services, Inc., Class B* | 1,995 | 250,033 | ||||||
Varian Medical Systems, Inc.* | 2,440 | 427,659 | ||||||
Veeva Systems, Inc., Class A* | 1,085 | 303,919 | ||||||
Vertex Pharmaceuticals, Inc.* | 537 | 114,139 | ||||||
Viatris, Inc.* | 6,232 | 92,545 | ||||||
Waters Corp.* | 1,326 | 363,165 | ||||||
West Pharmaceutical Services, Inc. | 2,175 | 610,414 | ||||||
Zimmer Biomet Holdings, Inc. | 1,051 | 171,376 | ||||||
Zoetis, Inc. | 1,612 | 250,247 | ||||||
|
| |||||||
(Cost $21,282,901) | 25,139,406 | |||||||
|
| |||||||
Industrials — 18.8% | ||||||||
3M Co. | 954 | 167,007 | ||||||
A O Smith Corp. | 9,402 | 558,197 | ||||||
Acuity Brands, Inc. (a) | 746 | 91,982 | ||||||
AECOM* | 661 | 38,265 | ||||||
AGCO Corp. | 3,084 | 399,316 | ||||||
Alaska Air Group, Inc.* | 1,689 | 109,819 | ||||||
Allegion PLC | 1,691 | 183,947 | ||||||
Allison Transmission Holdings, Inc. (a) | 4,445 | 168,554 | ||||||
AMERCO | 330 | 189,658 | ||||||
AMETEK, Inc. | 2,511 | 296,223 | ||||||
Armstrong World Industries, Inc. | 895 | 76,594 | ||||||
Array Technologies, Inc.*(a) | 1,438 | 53,321 | ||||||
Axon Enterprise, Inc.* | 239 | 39,552 |
See Notes to Financial Statements. | 43 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Industrials (Continued) | ||||||||
AZEK Co., Inc.* | 544 | $ | 23,996 | |||||
Booz Allen Hamilton Holding Corp. | 4,501 | 347,207 | ||||||
BWX Technologies, Inc. | 1,827 | 105,984 | ||||||
C.H. Robinson Worldwide, Inc. (a) | 5,838 | 530,382 | ||||||
CACI International, Inc., Class A* | 1,216 | 269,149 | ||||||
Carlisle Cos., Inc. | 1,856 | 269,584 | ||||||
Carrier Global Corp. | 12,571 | 459,219 | ||||||
Caterpillar, Inc. | 1,584 | 341,954 | ||||||
Cintas Corp. | 904 | 293,203 | ||||||
Clean Harbors, Inc.* | 405 | 34,486 | ||||||
Copart, Inc.* | 3,624 | 395,596 | ||||||
CoreLogic, Inc. | 2,438 | 206,401 | ||||||
CoStar Group, Inc.* | 412 | 339,389 | ||||||
Crane Co. | 696 | 58,367 | ||||||
CSX Corp. | 3,591 | 328,756 | ||||||
Cummins, Inc. | 5,687 | 1,439,948 | ||||||
Curtiss-Wright Corp. | 809 | 89,386 | ||||||
Deere & Co. | 1,013 | 353,659 | ||||||
Delta Air Lines, Inc.* | 2,433 | 116,638 | ||||||
Donaldson Co., Inc. | 3,288 | 193,696 | ||||||
Dover Corp. | 2,336 | 287,935 | ||||||
Eaton Corp. PLC | 4,715 | 613,846 | ||||||
Emerson Electric Co. | 3,578 | 307,350 | ||||||
Equifax, Inc. | 472 | 76,407 | ||||||
Expeditors International of Washington, Inc. | 8,113 | 745,098 | ||||||
Fastenal Co. | 12,427 | 576,240 | ||||||
FedEx Corp. | 449 | 114,271 | ||||||
Flowserve Corp. | 471 | 17,427 | ||||||
Fortive Corp. | 2,139 | 140,789 | ||||||
Fortune Brands Home & Security, Inc. | 4,534 | 376,957 | ||||||
FTI Consulting, Inc.* | 1,553 | 177,896 | ||||||
Generac Holdings, Inc.* | 1,284 | 423,155 | ||||||
General Dynamics Corp. | 1,554 | 254,032 | ||||||
General Electric Co. | 5,551 | 69,610 | ||||||
Graco, Inc. | 7,444 | 516,241 | ||||||
HEICO Corp. | 453 | 56,978 | ||||||
HEICO Corp., Class A | 1,120 | 129,651 | ||||||
Hexcel Corp.*(a) | 429 | 23,063 | ||||||
Honeywell International, Inc. | 849 | 171,795 | ||||||
Howmet Aerospace, Inc.* | 2,819 | 79,242 | ||||||
Hubbell, Inc. | 2,100 | 372,771 | ||||||
Huntington Ingalls Industries, Inc. | 731 | 128,590 | ||||||
IAA, Inc.* | 1,205 | 70,649 | ||||||
IDEX Corp. | 1,808 | 352,867 | ||||||
IHS Markit Ltd. | 1,585 | 142,904 | ||||||
Illinois Tool Works, Inc. | 1,825 | 368,979 | ||||||
Ingersoll Rand, Inc.* | 1,089 | 50,464 | ||||||
ITT, Inc. | 2,736 | 227,033 | ||||||
Jacobs Engineering Group, Inc. | 4,861 | 559,404 | ||||||
JB Hunt Transport Services, Inc. | 4,335 | 636,681 | ||||||
JetBlue Airways Corp.* | 2,915 | 53,723 | ||||||
Johnson Controls International PLC | 7,293 | 406,876 | ||||||
Kansas City Southern | 2,011 | 427,016 | ||||||
Kirby Corp.* | 484 | 30,279 | ||||||
Knight-Swift Transportation Holdings, Inc. | 8,711 | 376,315 |
Number | Value | |||||||
Industrials (Continued) | ||||||||
L3Harris Technologies, Inc. | 93 | $ | 16,918 | |||||
Landstar System, Inc. (a) | 3,361 | 538,231 | ||||||
Leidos Holdings, Inc. | 5,750 | 508,588 | ||||||
Lennox International, Inc. | 978 | 273,615 | ||||||
Lincoln Electric Holdings, Inc. (a) | 3,077 | 363,424 | ||||||
Lockheed Martin Corp. | 850 | 280,713 | ||||||
Macquarie Infrastructure Corp. | 508 | 15,921 | ||||||
ManpowerGroup, Inc. | 2,285 | 215,795 | ||||||
Masco Corp. | 9,264 | 493,030 | ||||||
Mercury Systems, Inc.* | 988 | 64,576 | ||||||
Middleby Corp.*(a) | 889 | 130,159 | ||||||
MSA Safety, Inc. (a) | 884 | 142,315 | ||||||
MSC Industrial Direct Co., Inc., Class A | 4,083 | 351,669 | ||||||
Nielsen Holdings PLC | 2,470 | 55,353 | ||||||
Nordson Corp. | 1,185 | 228,006 | ||||||
Norfolk Southern Corp. | 1,483 | 373,805 | ||||||
Northrop Grumman Corp. | 873 | 254,619 | ||||||
nVent Electric PLC | 882 | 23,161 | ||||||
Old Dominion Freight Line, Inc. | 2,541 | 545,731 | ||||||
Oshkosh Corp. (a) | 707 | 74,942 | ||||||
Otis Worldwide Corp. | 5,143 | 327,661 | ||||||
Owens Corning | 3,329 | 269,716 | ||||||
PACCAR, Inc. | 7,727 | 703,080 | ||||||
Parker-Hannifin Corp. | 521 | 149,506 | ||||||
Pentair PLC | 4,019 | 224,783 | ||||||
Quanta Services, Inc. | 7,437 | 623,592 | ||||||
Raytheon Technologies Corp. | 1,267 | 91,211 | ||||||
Regal Beloit Corp. | 2,744 | 375,023 | ||||||
Republic Services, Inc. | 3,834 | 341,571 | ||||||
Robert Half International, Inc. | 5,220 | 406,064 | ||||||
Rockwell Automation, Inc. | 953 | 231,846 | ||||||
Rollins, Inc. (a) | 4,320 | 143,294 | ||||||
Roper Technologies, Inc. | 798 | 301,341 | ||||||
Ryder System, Inc. | 2,110 | 142,995 | ||||||
Schneider National, Inc., Class B | 6,511 | 150,599 | ||||||
Science Applications International Corp. (a) | 4,920 | 423,760 | ||||||
Sensata Technologies Holding PLC* | 1,538 | 88,112 | ||||||
Snap-on, Inc. (a) | 2,444 | 496,401 | ||||||
Southwest Airlines Co. | 9,041 | 525,553 | ||||||
Stanley Black & Decker, Inc. | 1,440 | 251,770 | ||||||
Stericycle, Inc.* | 815 | 52,869 | ||||||
Teledyne Technologies, Inc.*(a) | 489 | 181,419 | ||||||
Textron, Inc. | 5,324 | 268,010 | ||||||
Timken Co. | 2,405 | 188,432 | ||||||
Toro Co. | 1,343 | 135,334 | ||||||
Trane Technologies PLC | 4,382 | 671,498 | ||||||
TransDigm Group, Inc.* | 108 | 62,280 | ||||||
TransUnion | 1,777 | 149,641 | ||||||
Trex Co., Inc.*(a) | 1,863 | 170,725 | ||||||
Trinity Industries, Inc. (a) | 2,162 | 69,400 | ||||||
Union Pacific Corp. | 769 | 158,383 | ||||||
United Parcel Service, Inc., Class B | 1,484 | 234,220 | ||||||
United Rentals, Inc.*(a) | 843 | 250,691 | ||||||
Valmont Industries, Inc. | 1,033 | 244,336 | ||||||
Verisk Analytics, Inc. | 1,420 | 232,667 | ||||||
Vertiv Holdings Co. | 3,403 | 71,225 |
See Notes to Financial Statements. | 44 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Industrials (Continued) | ||||||||
W.W. Grainger, Inc. | 1,143 | $ | 426,008 | |||||
Waste Management, Inc. | 4,023 | 446,110 | ||||||
Watsco, Inc. (a) | 2,165 | 526,312 | ||||||
Westinghouse Air Brake Technologies Corp. | 122 | 8,836 | ||||||
Woodward, Inc. (a) | 380 | 43,404 | ||||||
XPO Logistics, Inc.*(a) | 588 | 68,561 | ||||||
Xylem, Inc. | 3,529 | 351,347 | ||||||
|
| |||||||
(Cost $27,405,218) | 34,162,126 | |||||||
|
| |||||||
Information Technology — 18.9% | ||||||||
Accenture PLC, Class A | 852 | 213,767 | ||||||
Adobe, Inc.* | 331 | 152,151 | ||||||
Advanced Micro Devices, Inc.* | 178 | 15,043 | ||||||
Akamai Technologies, Inc.* | 3,068 | 289,926 | ||||||
Allegro MicroSystems, Inc.*(a) | 827 | 21,618 | ||||||
Amdocs Ltd. | 7,745 | 587,148 | ||||||
Amphenol Corp., Class A | 3,291 | 413,613 | ||||||
Analog Devices, Inc. (a) | 2,065 | 321,768 | ||||||
ANSYS, Inc.* | 1,309 | 446,356 | ||||||
Apple, Inc. | 3,231 | 391,791 | ||||||
Applied Materials, Inc. | 5,690 | 672,501 | ||||||
Arista Networks, Inc.* | 1,256 | 351,479 | ||||||
Arrow Electronics, Inc.* | 4,728 | 474,029 | ||||||
Aspen Technology, Inc.* | 2,114 | 318,178 | ||||||
Atlassian Corp. PLC, Class A* | 464 | 110,293 | ||||||
Autodesk, Inc.* | 1,000 | 276,000 | ||||||
Automatic Data Processing, Inc. | 1,586 | 275,996 | ||||||
Avnet, Inc. | 2,666 | 101,495 | ||||||
Black Knight, Inc.* | 2,871 | 220,177 | ||||||
Broadcom, Inc. | 267 | 125,455 | ||||||
Broadridge Financial Solutions, Inc. | 4,136 | 589,339 | ||||||
Cadence Design Systems, Inc.* | 7,347 | 1,036,588 | ||||||
CDK Global, Inc. | 2,037 | 102,135 | ||||||
CDW Corp. | 3,489 | 547,389 | ||||||
Ceridian HCM Holding, Inc.*(a) | 291 | 26,091 | ||||||
Ciena Corp.* | 4,415 | 230,331 | ||||||
Cirrus Logic, Inc.* | 1,846 | 150,966 | ||||||
Cisco Systems, Inc. | 3,539 | 158,795 | ||||||
Citrix Systems, Inc. (a) | 5,986 | 799,610 | ||||||
Cognex Corp. | 2,653 | 219,111 | ||||||
Cognizant Technology Solutions Corp., Class A | 13,863 | 1,018,653 | ||||||
Concentrix Corp.* | 2,978 | 367,813 | ||||||
Corning, Inc. | 16,225 | 620,444 | ||||||
Coupa Software, Inc.* | 86 | 29,778 | ||||||
Dell Technologies, Inc., Class C* | 6,776 | 549,330 | ||||||
Dolby Laboratories, Inc., Class A | 3,631 | 354,495 | ||||||
Dropbox, Inc., Class A* | 3,242 | 73,091 | ||||||
EchoStar Corp., Class A* | 568 | 12,894 | ||||||
Entegris, Inc. | 3,296 | 346,772 | ||||||
EPAM Systems, Inc.* | 1,774 | 662,784 | ||||||
Euronet Worldwide, Inc.* | 185 | 27,807 | ||||||
Everbridge, Inc.*(a) | 172 | 26,356 | ||||||
F5 Networks, Inc.* | 3,084 | 585,898 | ||||||
Fair Isaac Corp.* | 485 | 221,912 | ||||||
First Solar, Inc.*(a) | 565 | 45,776 |
Number | Value | |||||||
Information Technology (Continued) | ||||||||
Five9, Inc.* | 321 | $ | 59,462 | |||||
FleetCor Technologies, Inc.* | 386 | 107,042 | ||||||
FLIR Systems, Inc. | 1,400 | 74,760 | ||||||
Fortinet, Inc.* | 2,081 | 351,377 | ||||||
Gartner, Inc.* | 1,012 | 181,188 | ||||||
Genpact Ltd. | 3,425 | 138,507 | ||||||
Globant SA* | 507 | 108,863 | ||||||
GoDaddy, Inc., Class A* | 2,018 | 163,700 | ||||||
Guidewire Software, Inc.* | 710 | 78,803 | ||||||
Hewlett Packard Enterprise Co. | 7,556 | 110,015 | ||||||
HP, Inc. | 36,276 | 1,050,916 | ||||||
Inphi Corp.* | 412 | 67,811 | ||||||
Intel Corp. | 3,653 | 222,029 | ||||||
International Business Machines Corp. | 1,420 | 168,881 | ||||||
Intuit, Inc. | 1,217 | 474,800 | ||||||
IPG Photonics Corp.* | 981 | 223,030 | ||||||
Jabil, Inc. | 5,163 | 222,887 | ||||||
Jack Henry & Associates, Inc. | 2,312 | 343,193 | ||||||
Juniper Networks, Inc. (a) | 7,671 | 178,581 | ||||||
Keysight Technologies, Inc.* | 2,538 | 359,178 | ||||||
KLA Corp. | 2,823 | 878,602 | ||||||
Lam Research Corp. | 704 | 399,302 | ||||||
Littelfuse, Inc. | 517 | 134,534 | ||||||
Lumentum Holdings, Inc.*(a) | 412 | 37,080 | ||||||
Manhattan Associates, Inc.* | 1,111 | 136,597 | ||||||
Marvell Technology Group Ltd. | 6,675 | 322,269 | ||||||
Mastercard, Inc., Class A | 121 | 42,816 | ||||||
Maxim Integrated Products, Inc. | 9,080 | 845,984 | ||||||
McAfee Corp., Class A (a) | 1,860 | 38,502 | ||||||
Microchip Technology, Inc. | 1,219 | 186,056 | ||||||
Micron Technology, Inc.* | 2,846 | 260,494 | ||||||
Microsoft Corp. | 1,142 | 265,378 | ||||||
MKS Instruments, Inc. | 252 | 41,555 | ||||||
Monolithic Power Systems, Inc. | 1,452 | 543,803 | ||||||
Motorola Solutions, Inc. | 1,852 | 324,989 | ||||||
National Instruments Corp. | 3,624 | 160,906 | ||||||
NCR Corp.* | 789 | 27,426 | ||||||
NetApp, Inc. | 6,684 | 418,418 | ||||||
NortonLifeLock, Inc. (a) | 43,318 | 845,134 | ||||||
Nuance Communications, Inc.* | 6,772 | 302,031 | ||||||
NVIDIA Corp. | 81 | 44,435 | ||||||
ON Semiconductor Corp.*(a) | 452 | 18,202 | ||||||
Oracle Corp. | 3,016 | 194,562 | ||||||
Palo Alto Networks, Inc.* | 649 | 232,543 | ||||||
Paychex, Inc. | 4,343 | 395,517 | ||||||
Paycom Software, Inc.* | 462 | 172,899 | ||||||
Paylocity Holding Corp.* | 457 | 87,374 | ||||||
PayPal Holdings, Inc.* | 424 | 110,176 | ||||||
Pegasystems, Inc. | 991 | 131,159 | ||||||
Proofpoint, Inc.* | 316 | 38,211 | ||||||
PTC, Inc.* | 1,119 | 153,236 | ||||||
Qorvo, Inc.* | 2,136 | 373,223 | ||||||
QUALCOMM, Inc. | 976 | 132,921 | ||||||
RealPage, Inc.* | 900 | 78,102 | ||||||
salesforce.com, Inc.* | 165 | 35,723 | ||||||
ServiceNow, Inc.* | 415 | 221,386 | ||||||
Skyworks Solutions, Inc. | 3,728 | 662,913 |
See Notes to Financial Statements. | 45 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Information Technology (Continued) | ||||||||
SolarEdge Technologies, Inc.*(a) | 130 | $ | 38,780 | |||||
Square, Inc., Class A* | 133 | 30,594 | ||||||
SS&C Technologies Holdings, Inc. | 3,542 | 234,764 | ||||||
Switch, Inc., Class A | 1,897 | 32,894 | ||||||
SYNNEX Corp. | 4,104 | 365,913 | ||||||
Synopsys, Inc.* | 3,644 | 893,545 | ||||||
Teradata Corp.*(a) | 1,144 | 45,874 | ||||||
Teradyne, Inc. | 5,276 | 678,546 | ||||||
Texas Instruments, Inc. | 2,260 | 389,330 | ||||||
Trimble, Inc.* | 3,706 | 274,763 | ||||||
Tyler Technologies, Inc.* | 1,169 | 541,738 | ||||||
Ubiquiti, Inc. (a) | 90 | 28,703 | ||||||
Universal Display Corp. | 246 | 52,076 | ||||||
VeriSign, Inc.* | 2,278 | 442,000 | ||||||
Visa, Inc., Class A | 212 | 45,027 | ||||||
VMware, Inc., Class A*(a) | 668 | 92,324 | ||||||
Vontier Corp.* | 7,329 | 230,131 | ||||||
Western Digital Corp. | 197 | 13,500 | ||||||
Western Union Co. | 10,418 | 241,906 | ||||||
WEX, Inc.*(a) | 105 | 21,877 | ||||||
Workday, Inc., Class A* | 470 | 115,235 | ||||||
Xerox Holdings Corp. | 2,145 | 54,655 | ||||||
Xilinx, Inc. | 4,369 | 569,281 | ||||||
Zebra Technologies Corp., Class A* | 726 | 362,586 | ||||||
Zendesk, Inc.* | 431 | 62,986 | ||||||
|
| |||||||
(Cost $25,993,789) | 34,421,451 | |||||||
|
| |||||||
Materials — 6.6% | ||||||||
Air Products and Chemicals, Inc. | 1,255 | 320,803 | ||||||
Albemarle Corp. | 1,726 | 271,344 | ||||||
Amcor PLC | 32,249 | 352,804 | ||||||
AptarGroup, Inc. | 2,383 | 309,957 | ||||||
Ashland Global Holdings, Inc. | 348 | 29,274 | ||||||
Avery Dennison Corp. | 2,015 | 353,048 | ||||||
Axalta Coating Systems Ltd.* | 2,729 | 74,611 | ||||||
Ball Corp. (a) | 4,548 | 388,354 | ||||||
Berry Global Group, Inc.* | 9,534 | 528,184 | ||||||
Cabot Corp. | 574 | 28,258 | ||||||
Celanese Corp. | 3,094 | 429,788 | ||||||
CF Industries Holdings, Inc. | 1,283 | 58,094 | ||||||
Corteva, Inc. | 5,116 | 230,987 | ||||||
Crown Holdings, Inc.* | 4,602 | 439,767 | ||||||
Dow, Inc. | 1,364 | 80,899 | ||||||
DuPont de Nemours, Inc. | 2,554 | 179,597 | ||||||
Eagle Materials, Inc. | 718 | 90,023 | ||||||
Eastman Chemical Co. | 4,507 | 492,435 | ||||||
Ecolab, Inc. | 1,009 | 211,244 | ||||||
Element Solutions, Inc. | 2,170 | 39,169 | ||||||
FMC Corp. | 1,921 | 195,346 | ||||||
Graphic Packaging Holding Co. | 12,036 | 191,011 | ||||||
Huntsman Corp. | 3,291 | 89,844 | ||||||
International Flavors & Fragrances, Inc. | 1,299 | 176,027 | ||||||
International Paper Co. | 14,251 | 707,562 | ||||||
Linde PLC | 850 | 207,630 | ||||||
LyondellBasell Industries NV, Class A | 2,681 | 276,384 | ||||||
Martin Marietta Materials, Inc. | 640 | 215,597 | ||||||
NewMarket Corp. | 172 | 65,185 |
Number | Value | |||||||
Materials (Continued) | ||||||||
Newmont Corp. | 2,453 | $ | 133,394 | |||||
Nucor Corp. | 8,833 | 528,390 | ||||||
Olin Corp. | 3,107 | 96,131 | ||||||
Packaging Corp. of America (a) | 4,427 | 584,453 | ||||||
PPG Industries, Inc. | 2,185 | 294,582 | ||||||
Reliance Steel & Aluminum Co. | 5,229 | 691,274 | ||||||
Royal Gold, Inc. | 798 | 82,761 | ||||||
RPM International, Inc. | 3,582 | 285,270 | ||||||
Scotts Miracle-Gro Co. (a) | 3,449 | 735,154 | ||||||
Sealed Air Corp. | 2,527 | 105,881 | ||||||
Sherwin-Williams Co. | 297 | 202,061 | ||||||
Silgan Holdings, Inc. | 5,369 | 201,660 | ||||||
Sonoco Products Co. | 2,790 | 166,200 | ||||||
Southern Copper Corp. (a) | 720 | 51,358 | ||||||
Steel Dynamics, Inc. | 6,216 | 258,461 | ||||||
Valvoline, Inc. | 3,166 | 79,023 | ||||||
Vulcan Materials Co. | 1,197 | 199,887 | ||||||
W.R. Grace & Co. | 439 | 26,015 | ||||||
Westlake Chemical Corp. | 598 | 51,183 | ||||||
Westrock Co. | 3,821 | 166,557 | ||||||
|
| |||||||
(Cost $9,913,359) | 11,972,921 | |||||||
|
| |||||||
Real Estate — 3.9% | ||||||||
Alexandria Real Estate Equities, Inc. REIT | 631 | 100,764 | ||||||
American Campus Communities, Inc. REIT (a) | 398 | 16,302 | ||||||
American Homes 4 Rent, Class A REIT | 2,285 | 71,155 | ||||||
American Tower Corp. REIT | 525 | 113,468 | ||||||
Americold Realty Trust REIT | 1,653 | 57,921 | ||||||
Apartment Income REIT Corp. REIT | 4,679 | 191,278 | ||||||
Apartment Investment and Management Co., Class A REIT | 4,685 | 22,301 | ||||||
AvalonBay Communities, Inc. REIT | 875 | 153,781 | ||||||
Boston Properties, Inc. REIT | 496 | 49,168 | ||||||
Brixmor Property Group, Inc. REIT | 2,158 | 42,469 | ||||||
Camden Property Trust REIT | 1,104 | 114,982 | ||||||
CBRE Group, Inc., Class A* | 7,828 | 593,128 | ||||||
CoreSite Realty Corp. REIT | 979 | 119,154 | ||||||
Corporate Office Properties Trust REIT | 3,710 | 96,460 | ||||||
Cousins Properties, Inc. REIT (a) | 1,117 | 37,464 | ||||||
Crown Castle International Corp. REIT | 525 | 81,769 | ||||||
CubeSmart REIT | 4,523 | 167,170 | ||||||
CyrusOne, Inc. REIT | 711 | 46,663 | ||||||
Digital Realty Trust, Inc. REIT | 1,076 | 144,969 | ||||||
Douglas Emmett, Inc. REIT | 2,437 | 79,812 | ||||||
Duke Realty Corp. REIT | 8,090 | 317,532 | ||||||
Equinix, Inc. REIT | 157 | 101,789 | ||||||
Equity Commonwealth REIT | 10,601 | 299,054 | ||||||
Equity LifeStyle Properties, Inc. REIT | 2,491 | 153,570 | ||||||
Equity Residential REIT | 2,216 | 144,949 | ||||||
Essex Property Trust, Inc. REIT | 525 | 133,765 | ||||||
Extra Space Storage, Inc. REIT | 2,357 | 296,275 | ||||||
Federal Realty Investment Trust REIT (a) | 618 | 62,523 | ||||||
First Industrial Realty Trust, Inc. REIT | 4,890 | 208,852 | ||||||
Gaming and Leisure Properties, Inc. REIT | 730 | 32,412 | ||||||
Healthcare Trust of America, Inc., Class A REIT (a) | 1,032 | 28,029 |
See Notes to Financial Statements. | 46 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Real Estate (Continued) | ||||||||
Healthpeak Properties, Inc. REIT | 796 | $ | 23,156 | |||||
Highwoods Properties, Inc. REIT | 906 | 36,204 | ||||||
Host Hotels & Resorts, Inc. REIT | 13,641 | 226,304 | ||||||
Invitation Homes, Inc. REIT | 1,513 | 44,089 | ||||||
Iron Mountain, Inc. REIT (a) | 3,263 | 113,520 | ||||||
JBG SMITH Properties REIT | 786 | 24,955 | ||||||
Jones Lang LaSalle, Inc.* | 760 | 132,225 | ||||||
Kilroy Realty Corp. REIT | 501 | 31,793 | ||||||
Kimco Realty Corp. REIT | 1,983 | 36,348 | ||||||
Lamar Advertising Co., Class A REIT | 1,788 | 154,823 | ||||||
Life Storage, Inc. REIT | 3,229 | 270,913 | ||||||
Medical Properties Trust, Inc. REIT | 5,223 | 112,765 | ||||||
Mid-America Apartment Communities, Inc. REIT | 1,077 | 145,104 | ||||||
National Retail Properties, Inc. REIT | 1,462 | 64,094 | ||||||
Omega Healthcare Investors, Inc. REIT | 476 | 17,679 | ||||||
Prologis, Inc. REIT | 1,559 | 154,450 | ||||||
Public Storage REIT | 2,002 | 468,348 | ||||||
Rayonier, Inc. REIT | 1,022 | 33,358 | ||||||
Realty Income Corp. REIT | 1,020 | 61,465 | ||||||
Regency Centers Corp. REIT | 491 | 26,897 | ||||||
Rexford Industrial Realty, Inc. REIT | 1,023 | 48,818 | ||||||
SBA Communications Corp. REIT | 284 | 72,457 | ||||||
Simon Property Group, Inc. REIT (a) | 337 | 38,054 | ||||||
SL Green Realty Corp. REIT (a) | 311 | 21,481 | ||||||
Spirit Realty Capital, Inc. REIT | 665 | 28,608 | ||||||
STORE Capital Corp. REIT (a) | 1,491 | 49,859 | ||||||
Sun Communities, Inc. REIT | 397 | 60,324 | ||||||
UDR, Inc. REIT | 1,609 | 66,243 | ||||||
VICI Properties, Inc. REIT (a) | 3,049 | 86,896 | ||||||
Vornado Realty Trust REIT | 3,383 | 145,266 | ||||||
Weingarten Realty Investors REIT | 3,015 | 76,551 | ||||||
Welltower, Inc. REIT | 163 | 11,068 | ||||||
Weyerhaeuser Co. REIT | 694 | 23,506 | ||||||
WP Carey, Inc. REIT | 1,101 | 75,463 | ||||||
|
| |||||||
(Cost $6,359,791) | 7,062,012 | |||||||
|
| |||||||
Utilities — 4.8% | ||||||||
AES Corp. | 15,357 | 407,882 | ||||||
Alliant Energy Corp. | 4,138 | 191,010 | ||||||
Ameren Corp. | 5,641 | 396,393 | ||||||
American Electric Power Co., Inc. | 2,925 | 218,936 | ||||||
American Water Works Co., Inc. | 2,509 | 355,977 | ||||||
Atmos Energy Corp. | 1,932 | 163,467 | ||||||
Avangrid, Inc. (a) | 1,253 | 57,337 | ||||||
CenterPoint Energy, Inc. | 6,821 | 132,600 | ||||||
CMS Energy Corp. | 5,483 | 296,685 | ||||||
Consolidated Edison, Inc. | 4,104 | 269,428 | ||||||
Dominion Energy, Inc. | 1,931 | 131,926 | ||||||
DTE Energy Co. | 2,875 | 338,445 | ||||||
Duke Energy Corp. | 4,200 | 359,478 | ||||||
Edison International | 1,498 | 80,877 | ||||||
Entergy Corp. | 3,294 | 285,952 | ||||||
Essential Utilities, Inc. | 2,146 | 90,261 | ||||||
Evergy, Inc. | 6,115 | 327,948 | ||||||
Eversource Energy | 3,348 | 266,099 | ||||||
Exelon Corp. | 12,002 | 463,277 |
Number | Value | |||||||
Utilities (Continued) | ||||||||
FirstEnergy Corp. | 3,274 | $ | 108,500 | |||||
Hawaiian Electric Industries, Inc. | 3,074 | 107,467 | ||||||
IDACORP, Inc. | 1,306 | 112,629 | ||||||
MDU Resources Group, Inc. | 5,136 | 144,322 | ||||||
National Fuel Gas Co. | 2,701 | 122,733 | ||||||
NextEra Energy, Inc. | 2,362 | 173,560 | ||||||
NiSource, Inc. | 11,125 | 240,300 | ||||||
NRG Energy, Inc. | 5,300 | 193,503 | ||||||
OGE Energy Corp. | 4,562 | 133,530 | ||||||
Pinnacle West Capital Corp. | 2,957 | 206,783 | ||||||
PPL Corp. | 9,302 | 243,619 | ||||||
Public Service Enterprise Group, Inc. | 8,286 | 446,035 | ||||||
Sempra Energy | 1,642 | 190,439 | ||||||
Southern Co. | 5,535 | 313,945 | ||||||
UGI Corp. | 4,779 | 183,084 | ||||||
Vistra Corp. | 12,520 | 215,970 | ||||||
WEC Energy Group, Inc. | 3,911 | 315,383 | ||||||
Xcel Energy, Inc. | 6,630 | 388,452 | ||||||
|
| |||||||
(Cost $8,799,989) | 8,674,232 | |||||||
|
| |||||||
TOTAL COMMON STOCKS | 179,834,651 | |||||||
|
| |||||||
SECURITIES LENDING COLLATERAL — 0.1% | ||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (b)(c) | 157,588 | 157,588 | ||||||
|
| |||||||
CASH EQUIVALENTS — 0.9% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (b) | 1,697,064 | 1,697,064 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 99.9% | $ | 181,689,303 | ||||||
Other assets and liabilities, net — 0.1% | 135,392 | |||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 181,824,695 | ||||||
|
|
See Notes to Financial Statements. | 47 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
February 28, 2021 (Unaudited)
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2021 is as follows:
Value ($) at 8/31/2020 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2021 | Value ($) at 2/28/2021 | ||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 0.1% |
| |||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (b)(c) |
| |||||||||||||||||||||||||||||||||||
50,625 | 106,963(d | ) | — | — | — | 14 | — | 157,588 | 157,588 | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.9% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (b) |
| |||||||||||||||||||||||||||||||||||
1,498,098 | 2,359,746 | (2,160,780 | ) | — | — | 237 | — | 1,697,064 | 1,697,064 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
1,548,723 | 2,466,709 | (2,160,780 | ) | — | — | 251 | — | 1,854,652 | 1,854,652 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* | 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, 2021 amounted to $17,850,571, which is 9.8% 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 $18,545,995. |
(d) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2021. |
REIT: | Real Estate Investment Trust |
At February 28, 2021, open futures contracts purchased were as follows:
Contract Description | Currency | Number of Contracts | Notional Amount | Contract Value | Expiration Date | Unrealized Appreciation | ||||||||||||
E-Mini S&P 500 Futures | USD | 7 | $ | 1,313,805 | $ | 1,333,220 | 3/19/2021 | $ | 19,415 | |||||||||
E-Mini S&P MidCap 400 Futures | USD | 2 | 446,600 | 498,940 | 3/19/2021 | 52,340 | ||||||||||||
|
| |||||||||||||||||
Total unrealized appreciation | $ | 71,755 | ||||||||||||||||
|
|
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 |
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, 2021 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) | $ | 179,834,651 | $ | — | $ | — | $ | 179,834,651 | ||||||||
Short-Term Investments (e) | 1,854,652 | — | — | 1,854,652 | ||||||||||||
Derivatives (f) | ||||||||||||||||
Futures Contracts | 71,755 | — | — | 71,755 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 181,761,058 | $ | — | $ | — | $ | 181,761,058 | ||||||||
|
|
|
|
|
|
|
|
(e) | See Schedule of Investments for additional detailed categorizations. |
(f) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
See Notes to Financial Statements. | 48 |
This Page is Intentionally Left Blank
49
DBX ETF Trust
February 28, 2021 (Unaudited)
Xtrackers FTSE Developed ex US Multifactor ETF | Xtrackers MSCI Kokusai Equity ETF | Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | Xtrackers Russell US Multifactor ETF | |||||||||||||
Assets | ||||||||||||||||
Investment in non-affiliated securities at value | $ | 73,110,178 | $ | 854,642,854 | $ | 41,598,145 | $ | 179,834,651 | ||||||||
Investment in affiliated securities at value | — | 439,303 | — | — | ||||||||||||
Investment in DWS Government Money Market Series | 36,373 | 1,497,365 | 495,312 | 1,697,064 | ||||||||||||
Investment in DWS Government & Agency Securities Portfolio* | 586,430 | 117,889 | 6,665 | 157,588 | ||||||||||||
Cash | — | — | — | 27 | ||||||||||||
Foreign currency at value | 203,405 | 687,777 | — | — | ||||||||||||
Deposit with broker for futures contracts | 21,384 | 123,024 | 33,000 | 104,000 | ||||||||||||
Receivables: | ||||||||||||||||
Investment securities sold | — | 1,648,591 | 45,810 | — | ||||||||||||
Dividends | 161,592 | 1,142,838 | 83,325 | 216,052 | ||||||||||||
Interest | 1 | 31 | 12 | 38 | ||||||||||||
Securities lending income | 122 | 858 | 72 | 3,715 | ||||||||||||
Foreign tax reclaim | 34,692 | 41,278 | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total assets | $ | 74,154,177 | $ | 860,341,808 | $ | 42,262,341 | $ | 182,013,135 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liabilities | ||||||||||||||||
Payable upon return of securities loaned | $ | 586,430 | $ | 117,889 | $ | 6,665 | $ | 157,588 | ||||||||
Payables: | ||||||||||||||||
Investment securities purchased | — | 2,815,393 | 61,646 | — | ||||||||||||
Investment advisory fees | 13,924 | 60,105 | 7,365 | 23,872 | ||||||||||||
Variation margin on futures contracts | 4,485 | 6,521 | 2,820 | 6,980 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total liabilities | 604,839 | 2,999,908 | 78,496 | 188,440 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Assets, at value | $ | 73,549,338 | $ | 857,341,900 | $ | 42,183,845 | $ | 181,824,695 | ||||||||
|
| �� |
|
|
|
|
| |||||||||
Net Assets Consist of | ||||||||||||||||
Paid-in capital | $ | 72,313,862 | $ | 729,233,777 | $ | 18,603,992 | $ | 168,225,523 | ||||||||
Distributable earnings (loss) | 1,235,476 | 128,108,123 | 23,579,853 | 13,599,172 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Assets, at value | $ | 73,549,338 | $ | 857,341,900 | $ | 42,183,845 | $ | 181,824,695 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Number of Common Shares outstanding | 2,450,001 | 11,750,001 | 1,200,001 | 4,600,001 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Asset Value | $ | 30.02 | $ | 72.97 | $ | 35.15 | $ | 39.53 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Investment in non-affiliated securities at cost | $ | 60,560,341 | $ | 732,571,871 | $ | 36,691,827 | $ | 147,966,271 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Investment in affiliated securities at cost | $ | — | $ | 316,963 | $ | — | $ | — | ||||||||
|
|
|
|
|
|
|
| |||||||||
Value of securities loaned | $ | 732,221 | $ | 6,795,988 | $ | 1,236,635 | $ | 17,850,571 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Investment in DWS Government Money Market Series at cost | $ | 36,373 | $ | 1,497,365 | $ | 495,312 | $ | 1,697,064 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Investment in DWS Government & Agency Securities Portfolio at cost* | $ | 586,430 | $ | 117,889 | $ | 6,665 | $ | 157,588 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Non-cash collateral for securities on loan | $ | 218,115 | $ | 6,913,852 | $ | 1,258,067 | $ | 18,545,995 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Foreign currency at cost | $ | 200,275 | $ | 683,344 | $ | — | $ | — | ||||||||
|
|
|
|
|
|
|
|
* | Represents collateral on securities loaned. |
See Notes to Financial Statements. | 50 |
DBX ETF Trust
For the Six Months Ended February 28, 2021 (Unaudited)
Xtrackers FTSE Developed ex US Multifactor ETF | Xtrackers MSCI Kokusai Equity ETF | Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | Xtrackers Russell US Multifactor ETF | |||||||||||||
Investment Income | ||||||||||||||||
Unaffiliated dividend income* | $ | 681,615 | $ | 6,019,602 | $ | 912,383 | $ | 1,469,349 | ||||||||
Income distributions from affiliated funds | 28 | 101 | 96 | 237 | ||||||||||||
Affiliated securities lending income | 61 | 155 | 2 | 14 | ||||||||||||
Unaffiliated non-cash dividend income | 54,406 | — | 50,472 | 150,840 | ||||||||||||
Unaffiliated securities lending income, net of borrower rebates | 4,037 | 11,933 | 633 | 10,178 | ||||||||||||
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Total investment income | 740,147 | 6,031,791 | 963,586 | 1,630,618 | ||||||||||||
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Expenses | ||||||||||||||||
Investment advisory fees | 127,265 | 332,894 | 95,032 | 138,640 | ||||||||||||
Other expenses | 57 | 30 | 172 | 57 | ||||||||||||
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Total expenses | 127,322 | 332,924 | 95,204 | 138,697 | ||||||||||||
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Less fees waived (see note 3): | ||||||||||||||||
Waiver | (40,049 | ) | (255 | ) | (205 | ) | (506 | ) | ||||||||
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Net expenses | 87,273 | 332,669 | 94,999 | 138,191 | ||||||||||||
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Net investment income (loss) | 652,874 | 5,699,122 | 868,587 | 1,492,427 | ||||||||||||
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Realized and Unrealized Gain (Loss) | ||||||||||||||||
Net realized gain (loss) from: | ||||||||||||||||
Investments | (11,725 | ) | 82,423 | 34,405 | (909,021 | ) | ||||||||||
Investments in affiliates | 1,180 | (187 | ) | — | — | |||||||||||
In-kind redemptions | 1,165,401 | 3,786,130 | 23,256,489 | 6,926,660 | ||||||||||||
In-kind redemptions in affiliates | 23 | 18,684 | — | — | ||||||||||||
Futures contracts | 62,345 | 95,520 | 111,584 | 218,195 | ||||||||||||
Foreign currency transactions | 6,417 | (61,702 | ) | — | (2,860 | ) | ||||||||||
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Net realized gain (loss) | 1,223,641 | 3,920,868 | 23,402,478 | 6,232,974 | ||||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||
Investments | 5,257,361 | 98,974,594 | (9,782,600 | ) | 14,485,881 | |||||||||||
Investments in affiliates | (1,669 | ) | 103,738 | — | — | |||||||||||
Futures contracts | (6,275 | ) | 1,073 | (55,212 | ) | (37,597 | ) | |||||||||
Foreign currency translations | (7,707 | ) | (1,759 | ) | — | — | ||||||||||
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Net change in unrealized appreciation (depreciation) | 5,241,710 | 99,077,646 | (9,837,812 | ) | 14,448,284 | |||||||||||
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Net realized and unrealized gain (loss) on investments, futures and foreign currency transactions | 6,465,351 | 102,998,514 | 13,564,666 | 20,681,258 | ||||||||||||
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Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 7,118,225 | $ | 108,697,636 | $ | 14,433,253 | $ | 22,173,685 | ||||||||
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* Unaffiliated foreign tax withheld | $ | 78,595 | $ | 156,430 | $ | — | $ | — |
See Notes to Financial Statements. | 51 |
DBX ETF Trust
Xtrackers FTSE Developed ex US Multifactor ETF | Xtrackers MSCI Kokusai Equity ETF | |||||||||||||||
For the Six Months Ended February 28, 2021 (Unaudited) | Year Ended August 31, 2020 | For the Six Months Ended February 28, 2021 (Unaudited) | For the Period April 8, 2020(1) to August 31, 2020 | |||||||||||||
Increase (Decrease) in Net Assets from Operations | ||||||||||||||||
Net investment income (loss) | $ | 652,874 | $ | 1,708,506 | $ | 5,699,122 | $ | 767,418 | ||||||||
Net realized gain (loss) | 1,223,641 | (6,610,086 | ) | 3,920,868 | 1,295,060 | |||||||||||
Net change in net unrealized appreciation (depreciation) | 5,241,710 | 8,981,710 | 99,077,646 | 23,140,960 | ||||||||||||
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Net increase (decrease) in net assets resulting from operations | 7,118,225 | 4,080,130 | 108,697,636 | 25,203,438 | ||||||||||||
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Distributions to Shareholders | (1,483,310 | ) | (2,471,676 | ) | (4,540,994 | ) | — | |||||||||
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Fund Shares Transactions | ||||||||||||||||
Proceeds from shares sold | — | 13,809,804 | 638,637,566 | 115,024,649 | ||||||||||||
Value of shares redeemed | (4,462,182 | ) | (15,395,512 | ) | (17,115,221 | ) | (8,565,224 | ) | ||||||||
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Net increase (decrease) in net assets resulting from fund share transactions | (4,462,182 | ) | (1,585,708 | ) | 621,522,345 | 106,459,425 | ||||||||||
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Total net increase (decrease) in Net Assets | 1,172,733 | 22,746 | 725,678,987 | 131,662,863 | ||||||||||||
Net Assets | ||||||||||||||||
Beginning of period | 72,376,605 | 72,353,859 | 131,662,913 | 50 | ||||||||||||
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End of period | $ | 73,549,338 | $ | 72,376,605 | $ | 857,341,900 | $ | 131,662,913 | ||||||||
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Changes in Shares Outstanding | ||||||||||||||||
Shares outstanding, beginning of period | 2,600,001 | 2,700,001 | 2,000,001 | 1 | ||||||||||||
Shares sold | — | 550,000 | 10,000,000 | 2,150,000 | ||||||||||||
Shares redeemed | (150,000 | ) | (650,000 | ) | (250,000 | ) | (150,000 | ) | ||||||||
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Shares outstanding, end of period | 2,450,001 | 2,600,001 | 11,750,001 | 2,000,001 | ||||||||||||
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(1) | Commencement of Operations. |
See Notes to Financial Statements. | 52 |
DBX ETF Trust
Statements of Changes in Net Assets (Continued)
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | Xtrackers Russell US Multifactor ETF | |||||||||||||||
For the Six Months Ended February 28, 2021 (Unaudited) | Year Ended August 31, 2020 | For the Six Months Ended February 28, 2021 (Unaudited) | Year Ended August 31, 2020 | |||||||||||||
Increase (Decrease) in Net Assets from Operations | ||||||||||||||||
Net investment income (loss) | $ | 868,587 | $ | 1,866,796 | $ | 1,492,427 | $ | 3,260,210 | ||||||||
Net realized gain (loss) | 23,402,478 | 4,545,372 | 6,232,974 | (1,248,251 | ) | |||||||||||
Net change in net unrealized appreciation (depreciation) | (9,837,812 | ) | 10,910,970 | 14,448,284 | (2,005,958 | ) | ||||||||||
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Net increase (decrease) in net assets resulting from operations | 14,433,253 | 17,323,138 | 22,173,685 | 6,001 | ||||||||||||
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Distributions to Shareholders | (977,200 | ) | (2,168,938 | ) | (1,613,522 | ) | (3,463,473 | ) | ||||||||
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Fund Shares Transactions | ||||||||||||||||
Proceeds from shares sold | 14,845,490 | 24,136,207 | 33,868,219 | 74,739,642 | ||||||||||||
Value of shares redeemed | (86,685,819 | ) | (49,740,049 | ) | (22,432,684 | ) | (124,756,049 | ) | ||||||||
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Net increase (decrease) in net assets resulting from fund share transactions | (71,840,329 | ) | (25,603,842 | ) | 11,435,535 | (50,016,407 | ) | |||||||||
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Total net increase (decrease) in Net Assets | (58,384,276 | ) | (10,449,642 | ) | 31,995,698 | (53,473,879 | ) | |||||||||
Net Assets | ||||||||||||||||
Beginning of period | 100,568,121 | 111,017,763 | 149,828,997 | 203,302,876 | ||||||||||||
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End of period | $ | 42,183,845 | $ | 100,568,121 | $ | 181,824,695 | $ | 149,828,997 | ||||||||
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Changes in Shares Outstanding | ||||||||||||||||
Shares outstanding, beginning of period | 3,200,001 | 4,100,001 | 4,300,001 | 6,000,001 | ||||||||||||
Shares sold | 500,000 | 900,000 | 900,000 | 2,250,000 | ||||||||||||
Shares redeemed | (2,500,000 | ) | (1,800,000 | ) | (600,000 | ) | (3,950,000 | ) | ||||||||
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Shares outstanding, end of period | 1,200,001 | 3,200,001 | 4,600,001 | 4,300,001 | ||||||||||||
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See Notes to Financial Statements. | 53 |
DBX ETF Trust
Xtrackers FTSE Developed ex US Multifactor Selected Per Share Data | For the Six Months Ended 2/28/2021 (Unaudited) | Years Ended August 31, | Period Ended 8/31/2016(a) | |||||||||||||||||||||
2020 | 2019 | 2018 | 2017 | |||||||||||||||||||||
Net Asset Value, beginning of period | $ | 27.84 | $ | 26.80 | $ | 28.84 | $ | 28.17 | $ | 25.41 | $ | 25.00 | ||||||||||||
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Income (loss) from investment operations: | ||||||||||||||||||||||||
Net investment income (loss) (b) | 0.26 | 0.62 | 0.83 | 0.77 | 0.54 | 0.52 | ||||||||||||||||||
Net realized and unrealized gain (loss) | 2.50 | 1.32 | (2.11 | ) | 0.72 | 3.19 | 0.27 | |||||||||||||||||
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Total from investment operations | 2.76 | 1.94 | (1.28 | ) | 1.49 | 3.73 | 0.79 | |||||||||||||||||
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Less distributions from: | ||||||||||||||||||||||||
Net investment income | (0.58 | ) | (0.90 | ) | (0.76 | ) | (0.82 | ) | (0.97 | ) | (0.38 | ) | ||||||||||||
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Total distributions | (0.58 | ) | (0.90 | ) | (0.76 | ) | (0.82 | ) | (0.97 | ) | (0.38 | ) | ||||||||||||
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Net Asset Value, end of period | $ | 30.02 | $ | 27.84 | $ | 26.80 | $ | 28.84 | $ | 28.17 | $ | 25.41 | ||||||||||||
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Total Return (%) | 10.07 | **(c) | 7.49 | (c) | (4.51 | )(c) | 5.32 | 15.16 | 3.21 | ** | ||||||||||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||||||||||||||
Net Assets, end of period ($ millions) | 74 | 72 | 72 | 59 | 15 | 3 | ||||||||||||||||||
Ratio of expenses before fee waiver (%) | 0.35 | * | 0.35 | 0.35 | 0.35 | 0.35 | 0.36 | * | ||||||||||||||||
Ratio of expenses after fee waiver (%) | 0.24 | * | 0.24 | 0.29 | 0.35 | 0.35 | 0.36 | * | ||||||||||||||||
Ratio of net investment income (loss) (%) | 1.72 | * | 2.37 | 3.05 | 2.62 | 2.10 | 2.77 | * | ||||||||||||||||
Portfolio turnover rate (%) (d) | 27 | ** | 43 | 51 | 45 | 45 | 35 | ** |
Xtrackers MSCI Kokusai Equity ETF Selected Per Share Data | For the Six Months Ended 2/28/2021 (Unaudited) | Period Ended 8/31/2020(e) | ||||||||||||||||||||||
Net Asset Value, beginning of period | $ | 65.83 | $ | 50.00 | ||||||||||||||||||||
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Income (loss) from investment operations: | ||||||||||||||||||||||||
Net investment income (loss) (b) | 0.52 | 0.49 | ||||||||||||||||||||||
Net realized and unrealized gain (loss) | 7.00 | 15.34 | ||||||||||||||||||||||
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Total from investment operations | 7.52 | 15.83 | ||||||||||||||||||||||
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Less distributions from: | ||||||||||||||||||||||||
Net investment income | (0.37 | ) | — | |||||||||||||||||||||
Net realized gains | (0.01 | ) | — | |||||||||||||||||||||
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Total distributions | (0.38 | ) | — | |||||||||||||||||||||
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Net Asset Value, end of period | $ | 72.97 | $ | 65.83 | ||||||||||||||||||||
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Total Return (%) (c) | 11.45 | ** | 31.66 | ** | ||||||||||||||||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||||||||||||||
Net Assets, end of period ($ millions) | 857 | 132 | ||||||||||||||||||||||
Ratio of expenses before fee waiver (%) | 0.09 | * | 0.09 | * | ||||||||||||||||||||
Ratio of expenses after fee waiver (%) | 0.09 | * | 0.09 | * | ||||||||||||||||||||
Ratio of net investment income (loss) (%) | 1.54 | * | 2.08 | * | ||||||||||||||||||||
Portfolio turnover rate (%) (d) | 4 | ** | 7 | ** |
(a) | For the period November 24, 2015 (commencement of operations) through August 31, 2016. |
(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 April 8, 2020 (commencement of operations) through August 31, 2020. |
* | Annualized. |
** | Not Annualized. |
See Notes to Financial Statements. | 54 |
DBX ETF Trust
Financial Highlights (Continued)
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF Selected Per Share Data | For the Six Months Ended 2/28/2021 (Unaudited) | Years Ended August 31, | Period Ended 8/31/2018(a) | |||||||||||||||||||||
2020 | 2019 | |||||||||||||||||||||||
Net Asset Value, beginning of period | $ | 31.43 | $ | 27.08 | $ | 27.29 | $ | 25.00 | ||||||||||||||||
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Income (loss) from investment operations: | ||||||||||||||||||||||||
Net investment income (loss) (b) | 0.28 | 0.52 | 0.51 | 0.21 | ||||||||||||||||||||
Net realized and unrealized gain (loss) | 3.72 | 4.42 | (0.25 | ) | 2.16 | |||||||||||||||||||
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Total from investment operations | 4.00 | 4.94 | 0.26 | 2.37 | ||||||||||||||||||||
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Less distributions from: | ||||||||||||||||||||||||
Net investment income | (0.28 | ) | (0.59 | ) | (0.47 | ) | (0.08 | ) | ||||||||||||||||
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Total distributions | (0.28 | ) | (0.59 | ) | (0.47 | ) | (0.08 | ) | ||||||||||||||||
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Net Asset Value, end of period | $ | 35.15 | $ | 31.43 | $ | 27.08 | $ | 27.29 | ||||||||||||||||
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Total Return (%) | 12.83 | **(d) | 18.72 | (d) | 1.03 | (d) | 9.52 | ** | ||||||||||||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||||||||||||||
Net Assets, end of period ($ millions) | 42 | 101 | 111 | 61 | ||||||||||||||||||||
Ratio of expenses before fee waiver (%) | 0.19 | * | 0.19 | 0.19 | 0.19 | * | ||||||||||||||||||
Ratio of expenses after fee waiver (%) | 0.19 | * | 0.19 | 0.19 | 0.19 | * | ||||||||||||||||||
Ratio of net investment income (loss) (%) | 1.69 | * | 1.85 | 1.93 | 2.00 | * | ||||||||||||||||||
Portfolio turnover rate (%) (e) | 0 | ** | 22 | 31 | 26 | ** | ||||||||||||||||||
Xtrackers Russell US Multifactor ETF Selected Per Share Data | For the Six Months Ended 2/28/2021 (Unaudited) | Years Ended August 31, | Period Ended 8/31/2016(f) | |||||||||||||||||||||
2020 | 2019 | 2018 | 2017 | |||||||||||||||||||||
Net Asset Value, beginning of period | $ | 34.84 | $ | 33.88 | $ | 33.93 | $ | 29.47 | $ | 26.76 | $ | 25.00 | ||||||||||||
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Income (loss) from investment operations: | ||||||||||||||||||||||||
Net investment income (loss) (b) | 0.34 | 0.62 | 0.57 | 0.52 | 0.51 | 0.40 | ||||||||||||||||||
Net realized and unrealized gain (loss) | 4.70 | 0.96 | (c) | (0.09 | ) | 4.44 | 2.85 | 1.60 | ||||||||||||||||
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Total from investment operations | 5.04 | 1.58 | 0.48 | 4.96 | 3.36 | 2.00 | ||||||||||||||||||
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Less distributions from: |
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Net investment income | (0.35 | ) | (0.62 | ) | (0.53 | ) | (0.50 | ) | (0.65 | ) | (0.24 | ) | ||||||||||||
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Total distributions | (0.35 | ) | (0.62 | ) | (0.53 | ) | (0.50 | ) | (0.65 | ) | (0.24 | ) | ||||||||||||
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Net Asset Value, end of period | $ | 39.53 | $ | 34.84 | $ | 33.88 | $ | 33.93 | $ | 29.47 | $ | 26.76 | ||||||||||||
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Total Return (%) | 14.56 | **(d) | 4.93 | (d) | 1.53 | (d) | 16.97 | (d) | 12.75 | (d) | 8.06 | ** | ||||||||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||||||||||||||
Net Assets, end of period ($ millions) | 182 | 150 | 203 | 171 | 100 | 21 | ||||||||||||||||||
Ratio of expenses before fee waiver (%) | 0.17 | * | 0.17 | 0.17 | 0.19 | 0.23 | 0.25 | * | ||||||||||||||||
Ratio of expenses after fee waiver (%) | 0.17 | * | 0.17 | 0.17 | 0.18 | 0.21 | 0.25 | * | ||||||||||||||||
Ratio of net investment income (loss) (%) | 1.74 | * | 1.85 | 1.77 | 1.62 | 1.83 | 2.01 | * | ||||||||||||||||
Portfolio turnover rate (%) (e) | 13 | ** | 47 | 48 | 45 | 67 | 64 | ** |
(a) | For the period April 5, 2018 (commencement of operations) through August 31, 2018. |
(b) | Based on average shares outstanding during the period. |
(c) | Because of the timing of subscriptions and redemptions in relation to fluctuating markets at value, the amount shown may not agree with the change in aggregate gains and losses. |
(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 November 24, 2015 (commencement of operations) through August 31, 2016. |
* | Annualized. |
** | Not Annualized. |
See Notes to Financial Statements. | 55 |
DBX ETF Trust
1. Organization
DBX ETF Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “Act”), as an open-end registered management investment company organized as a Delaware statutory trust.
As of February 28, 2021, the Trust consists of thirty-five investment series of exchange-traded funds (“ETFs”) (each a “Fund” and collectively, the “Funds”) in operation and trading. These financial statements report on the Funds listed below:
Xtrackers FTSE Developed ex US Multifactor ETF* |
Xtrackers MSCI Kokusai Equity ETF |
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF |
Xtrackers Russell US Multifactor ETF** |
DBX Advisors LLC (“DBX” or the “Advisor”), an indirect, wholly-owned subsidiary of DWS Group GmbH & Co. KGaA (“DWS Group”), serves as investment advisor to the Funds and has overall responsibility for the general management and administration of the Funds, subject to the supervision of the Funds’ Board of Trustees (“Board”).
Each Fund offers shares that are listed and traded on the NYSE Arca, Inc. (“NYSE Arca”). Unlike conventional mutual funds, each Fund issues and redeems shares on a continuous basis, at net asset value (“NAV”), only in large specified lots consisting of 50,000 shares, 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 FTSE Developed ex US Multifactor ETF* | FTSE Developed ex US Comprehensive Factor Index | |
Xtrackers MSCI Kokusai Equity ETF | MSCI Kokusai Index | |
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | Russell 1000 2Qual/Val 5% Capped Factor Index | |
Xtrackers Russell US Multifactor ETF** | Russell 1000 Comprehensive Factor Index |
* | On January 28, 2021, the Fund changed its name from Xtrackers FTSE Developed ex US Comprehensive Factor ETF to Xtrackers FTSE Developed ex US Multifactor ETF. |
** | On January 28, 2021, the Fund changed its name from trackers Russell 1000 Comprehensive Factor ETF to Xtrackers Russell US Multifactor ETF. |
The FTSE Developed ex US Comprehensive Factor Index is designed to track the equity market performance of companies in developed countries (except the United States) selected on the investment style criteria (“factors”) of value, momentum, quality, low volatility and size. The companies eligible for the Underlying Index are derived from its starting universe, the FTSE Developed ex US Index, which is comprised of large- and mid-capitalization equity securities from developed markets (except the United States). The Underlying Index is rebalanced semiannually in March and September after the close of business on the third Friday of the review month.
The MSCI Kokusai Index, also known as the MSCI World ex Japan Index, is designed to track the performance of equity markets in developed markets (excluding Japan). The index is reviewed quarterly in February, May, August and November, with the objective of reflecting change in the underlying equity markets in a timely manner, while limiting undue index turnover. During the May and November semi-annual index reviews, the index is rebalanced and the large and mid capitalization cutoff points are recalculated.
The Russell 1000 2Qual/Val 5% Capped Factor Index is designed to track the equity market performance of companies in the United States selected on the investment style criteria (“factors”) of quality and value. The companies eligible for the Underlying Index are derived from its starting universe, the Russell 1000 Index, which is comprised of large-cap equity securities from issuers in the United States. The Underlying Index is rebalanced annually in June after the close of business on the third Friday of the review month. Upon a rebalancing, no issuer in the Underlying Index may represent more than 5% of the Underlying Index. In the event an issuer
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represents more than 5% of the Underlying Index at a rebalancing, such amount in excess of 5% shall be reallocated pro-rata to the other issuers in the Underlying Index.
The Russell 1000 Comprehensive Factor Index is designed to track the equity market performance of companies in the United States selected on the investment style criteria (“factors”) of value, momentum, quality, low volatility and size. The companies eligible for the Underlying Index are derived from its starting universe, the Russell 1000 Index, which is comprised of large-cap equity securities from issuers in the United States. The Underlying Index is rebalanced semiannually in June and December after the close of business on the third Friday of the review month.
Each Fund is entitled to use its respective Underlying Index pursuant to a licensing agreement between the Index Provider and DBX. There is no charge to the Funds in connection with these licensing agreements.
Each Fund, except Xtrackers MSCI Kokusai Equity ETF and Xtrackers Russell 1000 US Quality at a Reasonable Price ETF is diversified. Xtrackers MSCI Kokusai Equity ETF and Xtrackers Russell 1000 US Quality at a Reasonable Price ETF are non-diversified and are 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 the Accounting Standards Codification of U.S. GAAP. The following is a summary of significant accounting policies followed by the Funds.
Security Valuation The NAV of each Fund’s shares is calculated each business day as of the close of regular trading on the New York Stock Exchange, generally 4:00 p.m. Eastern Time. NAV per share is calculated by dividing a Fund’s net assets by the number of Fund shares outstanding.
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
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Notes to Financial Statements (Unaudited) (Continued)
as broker quotes. If the pricing services are unable to provide valuations, securities are valued at the mean between the bid and ask quotations or evaluated prices, as applicable, obtained from broker dealers. These securities are generally categorized as Level 2.
Investments in open-end investment companies are valued at their NAV each business day and are categorized as Level 1.
Futures contracts are generally valued at the settlement prices established each day on the exchange on which they are traded and are categorized as Level 1.
Securities and other assets for which market quotations are not readily available or for which the above valuation procedures are deemed not to reflect fair value are valued in a manner that is intended to reflect their fair value as determined in accordance with procedures approved by the 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 the policy of each Fund to pay out dividends from its net investment income, if any, to investors quarterly. Prior to March 1, 2021 it was the policy of Xtrackers MSCI Kokusai Equity ETF to pay out dividends from its net investment income, if any, to investors annually. 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.
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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, 2021, the Funds did not incur any interest or penalties.
At August 31, 2020, for Federal income tax purposes, the Funds have capital loss carryforwards available as shown in the table below, to the extent provided by regulations, to offset future capital gains for an unlimited period. To the extent that these loss carryforwards are used to offset future capital gains, it is probable that the capital gains so offset will not be distributed to shareholders.
Short-Term | Long-Term | Total Amount | ||||||||||
Xtrackers FTSE Developed ex US Multifactor ETF | $ | 5,483,816 | $ | 5,641,951 | $ | 11,125,767 | ||||||
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | 769,625 | 2,732,401 | 3,502,026 | |||||||||
Xtrackers Russell US Multifactor ETF | 14,547,840 | 8,180,659 | 22,728,499 |
As of August 31, 2020, the aggregate cost of investments for federal income tax purposes, the net unrealized appreciation or (depreciation) and the aggregated gross unrealized appreciation (depreciation) on investments were as follows:
Aggregate Tax Cost | Net Unrealized Appreciation (Depreciation) | Aggregate Gross Unrealized Appreciation | Aggregate Gross Unrealized (Depreciation) | |||||||||||||
Xtrackers FTSE Developed ex US Multifactor ETF | $ | 67,481,342 | $ | 5,663,595 | $ | 10,747,138 | $ | (5,083,543 | ) | |||||||
Xtrackers MSCI Kokusai Equity ETF | 108,764,268 | 22,982,982 | 23,687,907 | (704,925 | ) | |||||||||||
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | 87,091,679 | 13,299,438 | 19,472,087 | (6,172,649 | ) | |||||||||||
Xtrackers Russell US Multifactor ETF | 134,359,903 | 15,215,779 | 20,399,534 | (5,183,755 | ) |
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, 2021, 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
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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, 2021, 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 (0.04% annualized effective rate as of February 28, 2021) on the cash collateral invested in DWS Government & Agency Securities Portfolio. The Funds receive compensation for lending their securities either in the form of fees or by earning interest on invested cash collateral, net of borrower rebates and fees paid to a lending agent. Either the Fund or the borrower may terminate the loan at any time and the borrower, after notice, is required to return borrowed securities within a standard time period. There may be risks of delay and costs in recovery of securities or even loss of rights in the collateral should the borrower of the securities fail financially. If the Funds are not able to recover securities lent, the Funds may sell the collateral and purchase a replacement investment in the market, incurring the risk that the value of the replacement security is greater than the value of the collateral. The Funds are also subject to all investment risks associated with the reinvestment of any cash collateral received, including, but not limited to, interest rate, credit and liquidity risk associated with such investments.
As of February 28, 2021, 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 FTSE Developed ex US Multifactor ETF |
| |||||||||||||||||||
Common Stocks | $ | 586,430 | $ | 1,144 | $ | 678 | $ | 216,292 | $ | 804,544 | ||||||||||
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Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
| $ | 804,544 | |||||||||||||||||
Xtrackers MSCI Kokusai Equity ETF |
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Common Stocks | $ | 117,889 | $ | 120,489 | $ | 143,000 | $ | 6,650,363 | $ | 7,031,741 | ||||||||||
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Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
| $ | 7,031,741 | |||||||||||||||||
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF |
| |||||||||||||||||||
Common Stocks | $ | 6,665 | $ | 20,978 | $ | 138,394 | $ | 1,098,695 | $ | 1,264,732 | ||||||||||
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Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
| $ | 1,264,732 | |||||||||||||||||
Xtrackers Russell US Multifactor ETF |
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Common Stocks | $ | 157,588 | $ | 1,026,558 | $ | 1,203,694 | $ | 16,315,743 | $ | 18,703,583 | ||||||||||
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Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
| $ | 18,703,583 |
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, 2021, Xtrackers FTSE Developed ex US Multifactor ETF, Xtrackers MSCI Kokusai Equity ETF, Xtrackers Russell 1000 US Quality at a Reasonable Price ETF and Xtrackers Russell US Multifactor ETF utilized futures in order to simulate investment in the Underlying Index. To the extent required by law, liquid assets committed to futures contracts will be maintained.
At the time each Fund enters into a futures contract, each Fund deposits and maintains as collateral an initial margin with the broker, as required by the exchange on which the transaction is affected. Pursuant to the contract, each Fund agrees to receive from or pay to the broker an amount of cash equal to the daily fluctuation in
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the value of the contract. Such receipts or payments are known as variation margin and are recorded by each Fund as unrealized gains or losses. Risks may arise from the potential inability of a counterparty to meet the terms of the contract. The credit/counterparty risk for exchange-traded futures contracts is generally less than privately negotiated futures contracts, since the clearinghouse, which is the issuer or counterparty to each exchange-traded future, provides a guarantee of performance. The guarantee is supported by a daily payment system (i.e., margin requirements).
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, 2021 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, 2021 and the related location in the accompanying Statement of Assets and Liabilities, presented by primary underlying risk exposure:
Asset Derivatives | Liability Derivatives | |||||||||||||
Xtrackers FTSE Developed ex US Multifactor ETF | ||||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | 6,945 | Unrealized depreciation on futures contracts* | $ | — | ||||||||
Xtrackers MSCI Kokusai Equity ETF | ||||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | 23,088 | Unrealized depreciation on futures contracts* | $ | 2,050 | ||||||||
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | ||||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | 17,053 | Unrealized depreciation on futures contracts* | $ | — | ||||||||
Xtrackers Russell US Multifactor ETF | ||||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | 71,755 | Unrealized depreciation on futures contracts* | $ | — |
* | Includes cumulative appreciation or cumulative depreciation of futures contracts as disclosed in the Schedule of Investments. Unsettled variation margin is disclosed separately within the Statement of Assets and Liabilities. |
Additionally, the amount of realized and unrealized gains and losses on derivative instruments recognized in the Funds’ earnings during the period ended February 28, 2021 and the related location in the accompanying Statement of Operations is summarized in the following tables by primary underlying risk exposure:
Net Realized Gain (Loss) from: | ||||
Futures Contracts — Equity Contracts | ||||
Xtrackers FTSE Developed ex US Multifactor ETF | $ | 62,345 | ||
Xtrackers MSCI Kokusai Equity ETF | 95,520 | |||
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | 111,584 | |||
Xtrackers Russell US Multifactor ETF | 218,195 |
Net Change in Unrealized Appreciation (Depreciation) on: | ||||
Futures Contracts — Equity Contracts | ||||
Xtrackers FTSE Developed ex US Multifactor ETF | $ | (6,275 | ) | |
Xtrackers MSCI Kokusai Equity ETF | 1,073 | |||
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | (55,212 | ) | ||
Xtrackers Russell US Multifactor ETF | (37,597 | ) |
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For the period ended February 28, 2021 the average monthly volume of derivatives was as follows:
Futures Contracts (Contract Value) | ||||
Xtrackers FTSE Developed ex US Multifactor ETF | $ | 353,655 | ||
Xtrackers MSCI Kokusai Equity ETF | 920,848 | |||
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | 533,676 | |||
Xtrackers Russell US Multifactor ETF | 1,373,676 |
Affiliated Cash Management Vehicles The Funds may invest uninvested cash balances in DWS Government Money Market Series and DWS ESG Liquidity Fund, affiliated money market funds which are managed by DWS Investment Management Americas, Inc. (“DIMA”), also an indirect, wholly owned subsidiary of DWS Group GmbH & Co. KGaA. Each affiliated money market fund is managed in accordance with Rule 2a-7 under the 1940 Act, which governs the quality, maturity, diversity and liquidity of instruments in which a money market fund may invest. DWS Government Money Market Series seeks to maintain a stable NAV, and DWS ESG Liquidity Fund maintains a floating NAV. The Funds indirectly bear their proportionate share of the expenses of each affiliated money market fund in which they invest. The Advisor will waive an amount of the unitary advisory fee payable to the Advisor by the Funds equal to such acquired fund’s fees and expenses on the Funds’ assets invested in the affiliated money market funds.
3. Investment Advisory and Other Agreements
The Advisor has overall responsibility for the general management and administration of the Funds, subject to the supervision of the Funds’ Board of Trustees. Under an investment advisory agreement between the Trust, on behalf of the Funds, and the Advisor (the “Investment Advisory Agreement”), the Advisor is responsible for arranging sub-advisory, transfer agency, custody, fund administration, and all other non-distribution related services for the Funds to operate.
For its investment advisory services to the Funds below, the Advisor is entitled to receive a unitary advisory fee from each Fund based on each Fund’s average daily net assets, computed and accrued daily and payable monthly, at an annual rate equal to:
Unitary Management Fee | ||||
Xtrackers FTSE Developed ex US Multifactor ETF | 0.35 | % | ||
Xtrackers MSCI Kokusai Equity ETF | 0.09 | % | ||
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | 0.19 | % | ||
Xtrackers Russell US Multifactor ETF | 0.17 | % |
The Advisor for Xtrackers FTSE Developed ex US Multifactor ETF has contractually agreed, until December 17, 2021, to waive a portion of its unitary advisory fee to the extent necessary to prevent the operating expenses of the Fund (excluding interest expense, taxes, brokerage expenses, distribution fees or expenses, litigation expenses and other extraordinary expenses) from exceeding 0.24% of the Fund’s average daily net assets. For the period ended February 28, 2021, the Advisor waived $39,997 of expenses to the Fund.
The Advisor for the Funds below has contractually agreed to waive a portion of its unitary advisory fee in an amount equal to the acquired fund’s fees and expenses attributable to the Funds’ investments in affiliated Funds. For the period ended February 28, 2021, the Advisor waived expenses of the Funds as follows:
Expenses Waived | ||||
Xtrackers FTSE Developed ex US Multifactor ETF | $ | 52 | ||
Xtrackers MSCI Kokusai Equity ETF | 255 | |||
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | 205 | |||
Xtrackers Russell US Multifactor ETF | 506 |
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.
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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, 2021, the cost of investments purchased and proceeds from sale of investments (excluding in-kind transactions and short-term investments) were as follows:
Purchases | Sales | |||||||
Xtrackers FTSE Developed ex US Multifactor ETF | $ | 19,379,659 | $ | 20,327,492 | ||||
Xtrackers MSCI Kokusai Equity ETF | 25,597,277 | 29,064,723 | ||||||
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | 386,796 | 324,861 | ||||||
Xtrackers Russell US Multifactor ETF | 21,098,319 | 21,264,584 |
For the period ended February 28, 2021, the cost of in-kind purchases and proceeds from in-kind sales were as follows:
Purchases | Sales | |||||||
Xtrackers FTSE Developed ex US Multifactor ETF | $ | — | $ | 4,295,100 | ||||
Xtrackers MSCI Kokusai Equity ETF | 637,578,803 | 13,388,881 | ||||||
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | 14,845,462 | 86,685,595 | ||||||
Xtrackers Russell US Multifactor ETF | 33,865,037 | 22,364,436 |
5. Fund Share Transactions
As of February 28, 2021, there were unlimited Fund shares, no par value, authorized by the Trust. Fund shares are issued and redeemed by each Fund only in Creation Units or multiples thereof. Except when aggregated in Creation Units, shares of each Fund are not redeemable. Transactions in capital shares for each Fund are disclosed in detail in the Statements of Changes in Net Assets. The consideration for the purchase of Creation Units of a Fund generally consists of the in-kind contribution of a designated portfolio of securities constituting a portfolio sampling representation of the securities included in the respective Fund’s Underlying Index and an amount of cash, which under certain circumstances may include cash in lieu of portfolio securities. Investors purchasing and redeeming Creation Units pay a purchase transaction fee and a redemption transaction fee to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units.
6. 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 and increased government activity. Specifically, COVID-19 has led to significant death and morbidity, and concerns about its further spread have resulted in the closing of schools and non-essential businesses, cancellations, shelter-in place orders, lower consumer spending in certain sectors, social distancing, bans on large social gatherings and travel, quarantines, government economic stimulus measures, reduced productivity, rapid increases in unemployment, increased demand for and strain on government and medical resources, border closings and global trade and supply chain interruptions, among others. 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. The pandemic may 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. A Fund and its investments may be adversely affected by the effects of the COVID-19
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pandemic, and a prolonged pandemic may result in a Fund and its 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 each Fund and reflect the consequences as appropriate in each Fund’s 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.
In February 2021, 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, 2019 through November 30, 2020 (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 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.
65
DBX ETF Trust
Xtrackers FTSE Developed ex US Multifactor ETF, Xtrackers MSCI Kokusai Equity ETF, Xtrackers Russell 1000 US Quality at a Reasonable Price ETF and Xtrackers Russell US Multifactor 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 17-18, 2021 (the “Meeting”), the Trustees, all of whom are the Independent Trustees (those not affiliated with DBX ETF Trust (the “Trust”) or its service providers), unanimously approved the continuance of the Investment Advisory Agreement with respect to Xtrackers FTSE Developed ex US Multifactor ETF, Xtrackers MSCI Kokusai Equity ETF, Xtrackers Russell 1000 US Quality at a Reasonable Price ETF and Xtrackers Russell US Multifactor 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 17 and February 18, 2021. 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 Dechert LLP (“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.
66
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 Russell 1000 US Quality at a Reasonable Price ETF |
The Board considered, however, the following additional factor in connection with this Fund:
— | Xtrackers Russell 1000 US Quality at a Reasonable Price ETF’s total expenses were below the average and 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.
67
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.
68
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.
69
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.
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DBX ETF Trust
This report is intended for the shareholders of the DBX ETF Trust.
This report must be preceded or accompanied by a prospectus.
Investing involves risk, including the possible loss of principal. Stocks may decline in value. Foreign investing involves greater and different risks than investing in U.S. companies, including currency fluctuations, less liquidity, less developed or less efficient trading markets, lack of comprehensive company information, political instability and differing auditing and legal standards. Funds investing in a single industry, country or in a limited geographic region, generally are more volatile than more diversified funds. Because the Funds seek to provide exposure to stocks based on the following multifactors — value, momentum, quality, low volatility and size — it is expected, exposure to such investment factors will detract from performance in some market environments, as more fully explained in the Funds’ prospectus. QARP and KOKU are currently non-diversified and can take larger positions in fewer issues, increasing their potential risk. Performance of a Fund may diverge from that of its Underlying Index due to operating expenses, transaction costs, cash flows, use of sampling strategies or operational inefficiencies. An investment in any Fund should be considered only as a supplement to a complete investment program for those investors willing to accept the risks associated with that Fund. Please read the prospectus for more information.
War, terrorism, economic uncertainty, trade disputes, public health crises (including the recent pandemic spread of the novel coronavirus) and related geopolitical events could lead to increased market volatility, disruption to U.S. and world economies and markets and may have significant adverse effects on the Funds and their investments.
Shares of the Funds are bought and sold at market price (not NAV) throughout the day on the NYSE Arca, Inc. Transactions in Fund shares may result in brokerage commissions and may generate tax consequences. There can be no assurance that an active trading market for shares of a Fund will develop or be maintained.
DBX ETF Trust Funds are distributed by ALPS Distributors, Inc. (“ALPS”). The Funds are managed by DBX Advisors LLC which is not affiliated with ALPS.
The brand DWS represents DWS Group GmbH & Co. KGaA and any of its subsidiaries such as DWS Distributors, Inc. which offers investment products or Deutsche Investment Management Americas Inc. and RREEF America L.L.C. which offer advisory services.
DEEF, DEUS and QARP have been developed solely by DBX Advisors LLC. The Funds are not in any way connected to or sponsored, endorsed, issued, sold or promoted by the London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). FTSE Russell is a trading name of certain of the LSE Group companies.
All rights in the Russell 1000 Comprehensive Factor Index and Russell 1000 2Qual/Val 5% Capped Factor Index vest in the relevant LSE Group company which owns the Indexes. “FTSE®” “Russell®” and “FTSE Russell®” are a trademarks of the relevant LSE Group company and are used by any other LSE Group company under license.
The Index is calculated by or on behalf of FTSE International Limited or its affiliate, agent or partner. The LSE Group does not accept any liability whatsoever to any person arising out of (a) the use of, reliance on or any error in the Index or (b) investment in or operation of the Funds. The LSE Group makes no claim, prediction, warranty or representation either as to the results to be obtained from the Funds or the suitability of the Indexes for the purpose to which it is being put by DBX Advisors LLC.
KOKU is not sponsored, endorsed, issued, sold or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The Prospectus contains a more detailed description of the limited relationship MSCI has with DBX Advisors LLC and any related funds.
Copyright © 2021 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 5 Times Square New York, NY 10036 | Legal counsel Dechert LLP 1095 Avenue of the Americas New York, NY 10036 |
R-045855-6 (4/21) DBX004830 (4/22)
February 28, 2021
Semi-Annual Report
DBX ETF Trust
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF (ACSG)
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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Board Considerations in Approval of Investment Advisory Contracts | 77 | |||
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To our Shareholders: (Unaudited)
We are pleased to provide this semi-annual report for our seven equity ETFs tracking the environmental, social, and governance (ESG) market for the period ended February 28, 2021.
All major economies reported their strongest recovery in history as lockdown restrictions were eased and business momentum rallied to pre-COVID-19 levels. The major drivers were fiscal and monetary stimuli, which led to steady cash flow in the hands of spenders and businesses, respectively. Toward the end of the review period, however, economies, in general, decelerated to their long-term growth targets, except for the Eurozone. The region ventured marginally into negative territory, mirroring concerns over the emergence of new strains of the novel coronavirus. The recovery in the U.S. was driven by investments in residential real estate and business’s accumulating capital assets. Emerging market expansion was anchored by burgeoning commodity prices and resumption of global trade in the last 6 months.
According to the MSCI 2021 Global Institutional Investor survey, 79% of Asia-Pacific investors scaled up their investment in ESG-focused companies in 2020. Having access to a standardized ESG categorization enables investors to screen companies making a positive contribution to the community, environment, and society. Solar energy and wind energy attracted widespread investments, however, scientists proposed cleaner sources on the basis of nuclear energy. While public transit and electric-vehicle subsidies took center stage in the clean energy agenda, industrial emissions have yet to find a way to reduce their carbon footprint. Most large developed and emerging markets embraced sizable investments in large-scale renewable energy parks, with participation from both governments and the private sector.
Positive sentiment around a less restrictive trade policy after the Biden administration’s presidential victory invigorated the stimulus-driven U.S. economy. The Federal Reserve Board replicated the quantitative easing strategy following the financial crisis, but at a much larger scale, evident in a meteoric jump in money supply and sustained a near-zero-level interest rate. Responding to a third wave of COVID-19 cases, the Biden administration approved two stimulus packages to the tune of USD 892 billion and USD 1.9 trillion in December 2020 and February 2021, respectively. Unemployment levels steadily receded as new jobs were added. Toward the end of 2020, a spike in the number of daily cases moderated growth despite the favorable economic, political and convivial global trade backdrops.
In the Eurozone, reopening of industrial and business activity resulted in an equal-sized recovery from the start of Q3 2020, as was the contraction in Q2, in percentage terms. However, average weekly new cases hovering around 1.5 million across Europe around the beginning of 2021 sparked concerns on the sustainability of the revival in the bloc. The possibility of another round of strict lockdowns withered consumer and business sentiments. Consequently, services PMI1 and retail sales indicators reported a series of contractionary results month over month, reflecting short-lived wage growth. An appreciating euro and below-target inflation increased the significance of keeping the lenient monetary policy related to interest rates at the zero level.
The beginning of the review period saw the roll out of vaccination drives, albeit at a slower pace than expected. The impending widespread risks involved, newer variants of the coronavirus, and increasing public debt, which could again destabilize recuperating economies. On the ESG front, climate change will likely remain a dominant theme, as the world witnesses more climate-change-related calamities and governments across the globe bring more climate-oriented regulations. Given the rising significance of sustainable investing among policymakers and investors, we have integrated ESG factors into a range of passive equity products to help you invest for a sustainable future.
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
1 Purchasing Managers’ Index (PMI) are economic indicators derived from monthly surveys of private sector companies.
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 MSCI ACWI ex USA ESG Leaders Equity ETF (ACSG)
The Xtrackers MSCI ACWI ex 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 ACWI ex 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 is constructed using regional indexes that provide exposure to large- and medium-capitalization companies from developed and emerging markets countries (excluding the United States). It is not possible to invest directly into an index.
Ten Largest Equity Holdings as of February 28, 2021 (19.7% of Net Assets) |
Description | % of Net Assets | |||
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) | 4.0% | |||
Tencent Holdings Ltd. (China) | 3.6% | |||
Alibaba Group Holding Ltd. (China) | 3.3% | |||
ASML Holding NV (Netherlands) | 1.8% | |||
Roche Holding AG (Switzerland) | 1.7% | |||
Meituan (China) | 1.2% | |||
Shopify, Inc. (Canada) | 1.1% | |||
Unilever PLC (United Kingdom) | 1.0% | |||
Sony Corp. (Japan) | 1.0% | |||
SAP SE (Germany) | 1.0% |
Country Diversification* as of February 28, 2021 |
Japan | 16.4% | |||
China | 11.8% | |||
Canada | 7.5% | |||
United Kingdom | 7.2% | |||
Taiwan | 6.6% | |||
France | 6.1% | |||
Germany | 5.6% | |||
Switzerland | 5.1% | |||
Australia | 4.3% | |||
Netherlands | 3.9% | |||
India | 3.3% | |||
South Korea | 2.1% | |||
Denmark | 2.1% | |||
Sweden | 2.0% | |||
Other | 16.0% | |||
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Total | 100.0% |
Sector Diversification* as of February 28, 2021 |
Financials | 18.5% | |||
Consumer Discretionary | 14.6% | |||
Information Technology | 13.7% | |||
Industrials | 11.0% | |||
Health Care | 8.8% | |||
Communication Services | 8.3% | |||
Materials | 7.9% | |||
Consumer Staples | 7.6% | |||
Energy | 4.0% | |||
Utilities | 3.0% | |||
Real Estate | 2.6% | |||
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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 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, 2021 (18.0% of Net Assets) |
Description | % of Net Assets | |||
ASML Holding NV (Netherlands) | 3.0% | |||
Roche Holding AG (Switzerland) | 2.9% | |||
Unilever PLC (United Kingdom) | 1.7% | |||
Sony Corp. (Japan) | 1.6% | |||
SAP SE (Germany) | 1.6% | |||
Novo Nordisk A/S (Denmark) | 1.5% | |||
Siemens AG (Germany) | 1.5% | |||
TOTAL SE (France) | 1.5% | |||
Commonwealth Bank of Australia (Australia) | 1.4% | |||
Allianz SE (Germany) | 1.3% |
Country Diversification* as of February 28, 2021 |
Japan | 27.2% | |||
United Kingdom | 11.9% | |||
France | 10.2% | |||
Germany | 9.4% | |||
Switzerland | 8.6% | |||
Australia | 7.1% | |||
Netherlands | 6.6% | |||
Denmark | 3.6% | |||
Sweden | 3.4% | |||
Spain | 2.7% | |||
Other | 9.3% | |||
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Total | 100.0% |
Sector Diversification* as of February 28, 2021 |
Financials | 17.7% | |||
Industrials | 14.9% | |||
Consumer Discretionary | 12.6% | |||
Health Care | 12.4% | |||
Consumer Staples | 9.5% | |||
Information Technology | 9.2% | |||
Materials | 8.7% | |||
Communication Services | 5.2% | |||
Utilities | 3.9% | |||
Real Estate | 3.1% | |||
Energy | 2.8% | |||
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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 22.
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, 2021 (46.9% of Net Assets) |
Description | % of Net Assets | |||
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) | 12.1% | |||
Tencent Holdings Ltd. (China) | 11.1% | |||
Alibaba Group Holding Ltd. (China) | 10.2% | |||
Meituan (China) | 3.6% | |||
Naspers Ltd. (South Africa) | 2.3% | |||
Reliance Industries Ltd. (India) | 1.8% | |||
China Construction Bank Corp. (China) | 1.8% | |||
Housing Development Finance Corp. Ltd. (India) | 1.4% | |||
NIO, Inc. (China) | 1.3% | |||
Infosys Ltd. (India) | 1.3% |
Country Diversification* as of February 28, 2021 |
China | 36.3% | |||
Taiwan | 20.3% | |||
India | 10.2% | |||
South Korea | 6.5% | |||
South Africa | 5.6% | |||
Brazil | 3.2% | |||
Thailand | 2.5% | |||
Hong Kong | 2.3% | |||
Malaysia | 2.0% | |||
Other | 11.1% | |||
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Total | 100.0% |
Sector Diversification* as of February 28, 2021 |
Information Technology | 21.2% | |||
Consumer Discretionary | 20.7% | |||
Financials | 16.2% | |||
Communication Services | 15.1% | |||
Materials | 6.0% | |||
Consumer Staples | 5.1% | |||
Energy | 4.6% | |||
Health Care | 4.0% | |||
Industrials | 3.7% | |||
Real Estate | 1.9% | |||
Utilities | 1.5% | |||
|
| |||
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 28.
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, 2021 (35.1% of Net Assets) |
Description | % of Net Assets | |||
Microsoft Corp. | 10.2% | |||
Alphabet, Inc. | 7.4% | |||
Tesla, Inc. | 3.1% | |||
Johnson & Johnson | 2.5% | |||
Visa, Inc. | 2.2% | |||
Walt Disney Co. | 2.1% | |||
NVIDIA Corp. | 2.1% | |||
Mastercard, Inc. | 1.9% | |||
Procter & Gamble Co. | 1.9% | |||
Home Depot, Inc. | 1.7% |
Sector Diversification* as of February 28, 2021 |
Information Technology | 27.6% | |||
Consumer Discretionary | 13.5% | |||
Health Care | 13.0% | |||
Communication Services | 12.2% | |||
Financials | 10.7% | |||
Industrials | 9.1% | |||
Consumer Staples | 6.0% | |||
Materials | 2.9% | |||
Real Estate | 2.7% | |||
Energy | 1.3% | |||
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 35.
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, 2021 (36.7% of Net Assets) |
Description | % of Net Assets | |||
Apple, Inc. | 8.3% | |||
Microsoft Corp. | 7.5% | |||
Amazon.com, Inc. | 5.6% | |||
Alphabet, Inc. | 5.1% | |||
Facebook, Inc. | 2.6% | |||
JPMorgan Chase & Co. | 1.9% | |||
Visa, Inc. | 1.5% | |||
NVIDIA Corp. | 1.5% | |||
UnitedHealth Group, Inc. | 1.4% | |||
Mastercard, Inc. | 1.3% |
Sector Diversification* as of February 28, 2021 |
Information Technology | 29.2% | |||
Health Care | 13.3% | |||
Consumer Discretionary | 11.8% | |||
Financials | 11.5% | |||
Communication Services | 11.3% | |||
Industrials | 7.4% | |||
Consumer Staples | 5.7% | |||
Energy | 2.9% | |||
Materials | 2.8% | |||
Real Estate | 2.5% | |||
Utilities | 1.6% | |||
|
| |||
Total | 100.0% |
* As a percent of total investments excluding securities lending collateral and cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 40.
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, 2021 (9.6% of Net Assets) |
Description | % of Net Assets | |||
Generac Holdings, Inc. | 1.4% | |||
Penn National Gaming, Inc. | 1.1% | |||
Cognex Corp. | 1.0% | |||
PTC, Inc. | 0.9% | |||
Charles River Laboratories International, Inc. | 0.9% | |||
Bio-Techne Corp. | 0.9% | |||
Fair Isaac Corp. | 0.9% | |||
Masimo Corp. | 0.9% | |||
Molina Healthcare, Inc. | 0.8% | |||
Cree, Inc. | 0.8% |
Sector Diversification* as of February 28, 2021 |
Industrials | 19.4% | |||
Financials | 15.4% | |||
Consumer Discretionary | 14.9% | |||
Information Technology | 14.4% | |||
Health Care | 11.7% | |||
Real Estate | 9.7% | |||
Materials | 5.0% | |||
Consumer Staples | 3.7% | |||
Communication Services | 2.1% | |||
Utilities | 2.0% | |||
Energy | 1.7% | |||
|
| |||
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.
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, 2021 (7.7% of Net Assets) |
Description | % of Net Assets | |||
GameStop Corp. | 0.8% | |||
MicroStrategy, Inc. | 0.8% | |||
Omnicell, Inc. | 0.8% | |||
Power Integrations, Inc. | 0.8% | |||
Crocs, Inc. | 0.8% | |||
Saia, Inc. | 0.8% | |||
Chart Industries, Inc. | 0.8% | |||
Itron, Inc. | 0.7% | |||
Macy’s, Inc. | 0.7% | |||
John Bean Technologies Corp. | 0.7% |
Sector Diversification* as of February 28, 2021 |
Industrials | 20.1% | |||
Consumer Discretionary | 18.1% | |||
Information Technology | 14.9% | |||
Financials | 14.5% | |||
Health Care | 12.3% | |||
Real Estate | 7.8% | |||
Energy | 4.0% | |||
Materials | 3.4% | |||
Consumer Staples | 3.2% | |||
Communication Services | 0.9% | |||
Utilities | 0.8% | |||
|
| |||
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 49.
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 (Sptember 1, 2020 to February 28, 2021), except Xtrackers S&P MidCap 400 ESG ETF and Xtrackers S&P SmallCap 600 ESG ETF which are based on an investment of $1,000 invested at the beginning of the period and held for the entire period (commencement of operations, as noted below, to February 28, 2021).
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, 2020 | Ending Account Value February 28, 2021 | Annualized Expense Ratio | Expenses Paid During the Period Per $1,000(1) | |||||||||||||
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF |
| |||||||||||||||
Actual | $ | 1,000.00 | $ | 1,153.90 | 0.16 | % | $ | 0.85 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,024.00 | 0.16 | % | $ | 0.80 | ||||||||
Xtrackers MSCI EAFE ESG Leaders Equity ETF |
| |||||||||||||||
Actual | $ | 1,000.00 | $ | 1,129.30 | 0.14 | % | $ | 0.74 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,024.10 | 0.14 | % | $ | 0.70 | ||||||||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF |
| |||||||||||||||
Actual | $ | 1,000.00 | $ | 1,198.30 | 0.20 | % | $ | 1.09 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,023.80 | 0.20 | % | $ | 1.00 | ||||||||
Xtrackers MSCI USA ESG Leaders Equity ETF |
| |||||||||||||||
Actual | $ | 1,000.00 | $ | 1,105.40 | 0.09 | % | $ | 0.47 | ||||||||
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 | $ | 1,079.20 | 0.10 | % | $ | 0.52 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,024.30 | 0.10 | % | $ | 0.50 | ||||||||
Xtrackers S&P MidCap 400 ESG ETF |
| |||||||||||||||
Actual (2) | $ | 1,000.00 | $ | 986.40 | 0.13 | % | $ | 0.02 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,024.15 | 0.13 | % | $ | 0.65 | ||||||||
Xtrackers S&P SmallCap 600 ESG ETF |
| |||||||||||||||
Actual (2) | $ | 1,000.00 | $ | 992.40 | 0.13 | % | $ | 0.02 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,024.15 | 0.13 | % | $ | 0.65 |
(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.
(2) Expenses are equal to each Fund’s annualized expense ratio, multiplied by the average account value over the period, multiplied by 5 (the number of days in the period February 24, 2021 (commencement of operations) to February 28, 2021), then divided by 365.
10
DBX ETF Trust
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF
February 28, 2021 (Unaudited)
Number | Value | |||||||
COMMON STOCKS — 98.5% | ||||||||
Argentina — 0.1% | ||||||||
Globant SA* | 26 | $ | 5,583 | |||||
|
| |||||||
Australia — 4.3% | ||||||||
APA Group (a) | 835 | 6,006 | ||||||
ASX Ltd. | 135 | 7,065 | ||||||
Aurizon Holdings Ltd. | 1,511 | 4,457 | ||||||
AusNet Services | 919 | 1,178 | ||||||
Australia & New Zealand Banking Group Ltd. | 2,039 | 41,312 | ||||||
BlueScope Steel Ltd. | 405 | 5,230 | ||||||
Brambles Ltd. | 1,155 | 8,853 | ||||||
Coca-Cola Amatil Ltd. | 374 | 3,877 | ||||||
Cochlear Ltd. | 42 | 6,874 | ||||||
Coles Group Ltd. | 950 | 11,275 | ||||||
Commonwealth Bank of Australia | 1,255 | 79,245 | ||||||
Computershare Ltd. | 382 | 3,925 | ||||||
Dexus REIT | 757 | 5,216 | ||||||
Evolution Mining Ltd. | 1,212 | 3,941 | ||||||
Fortescue Metals Group Ltd. | 1,107 | 20,663 | ||||||
Goodman Group REIT | 1,223 | 15,680 | ||||||
GPT Group REIT | 1,286 | 4,251 | ||||||
Insurance Australia Group Ltd. | 1,678 | 6,483 | ||||||
Lendlease Corp. Ltd. (a) | 426 | 4,386 | ||||||
Macquarie Group Ltd. | 249 | 27,467 | ||||||
Mirvac Group REIT | 2,834 | 4,893 | ||||||
National Australia Bank Ltd. | 2,361 | 45,039 | ||||||
Newcrest Mining Ltd. | 602 | 11,484 | ||||||
Northern Star Resources Ltd. | 781 | 6,174 | ||||||
Orica Ltd. | 274 | 2,664 | ||||||
Ramsay Health Care Ltd. | 130 | 6,643 | ||||||
SEEK Ltd. | 253 | 5,034 | ||||||
Stockland REIT | 1,811 | 5,847 | ||||||
Suncorp Group Ltd. | 843 | 6,487 | ||||||
Sydney Airport* (a) | 958 | 4,346 | ||||||
Telstra Corp. Ltd. | 3,062 | 7,301 | ||||||
Transurban Group (a) | 2,013 | 19,948 | ||||||
Vicinity Centres REIT | 2,364 | 3,002 | ||||||
Woodside Petroleum Ltd. | 655 | 12,459 | ||||||
|
| |||||||
(Cost $349,869) | 408,705 | |||||||
|
| |||||||
Austria — 0.2% | ||||||||
Erste Group Bank AG* | 203 | 6,724 | ||||||
OMV AG | 122 | 5,903 | ||||||
voestalpine AG | 83 | 3,308 | ||||||
|
| |||||||
(Cost $13,363) | 15,935 | |||||||
|
| |||||||
Belgium — 0.4% | ||||||||
Etablissements Franz Colruyt NV | 42 | 2,531 | ||||||
KBC Group NV* | 182 | 13,171 | ||||||
Solvay SA | 55 | 6,749 | ||||||
UCB SA | 93 | 9,306 | ||||||
Umicore SA | 149 | 8,800 | ||||||
|
| |||||||
(Cost $36,146) | 40,557 | |||||||
|
| |||||||
Brazil — 0.7% | ||||||||
Atacadao SA | 300 | 1,023 |
Number | Value | |||||||
Brazil (Continued) | ||||||||
B2W Cia Digital* | 154 | $ | 2,266 | |||||
B3 SA — Brasil Bolsa Balcao | 1,535 | 14,956 | ||||||
Banco do Brasil SA | 647 | 3,256 | ||||||
Banco Santander Brasil SA | 305 | 2,046 | ||||||
Cosan SA | 109 | 1,592 | ||||||
Energisa SA | 124 | 972 | ||||||
Klabin SA* | 521 | 2,755 | ||||||
Localiza Rent a Car SA | 404 | 4,205 | ||||||
Lojas Renner SA | 537 | 3,532 | ||||||
Natura & Co. Holding SA* | 499 | 4,134 | ||||||
Notre Dame Intermedica Participacoes SA | 338 | 5,259 | ||||||
Telefonica Brasil SA | 338 | 2,669 | ||||||
TIM SA | 689 | 1,582 | ||||||
Ultrapar Participacoes SA* | 512 | 1,775 | ||||||
Via Varejo S/A* | 905 | 1,928 | ||||||
WEG SA | 575 | 8,053 | ||||||
|
| |||||||
(Cost $61,661) | 62,003 | |||||||
|
| |||||||
Canada — 7.5% | ||||||||
Agnico Eagle Mines Ltd. | 165 | 9,259 | ||||||
Algonquin Power & Utilities Corp. | 399 | 6,212 | ||||||
Alimentation Couche-Tard, Inc., Class B | 610 | 18,430 | ||||||
B2Gold Corp. | 742 | 3,247 | ||||||
Bank of Montreal | 447 | 36,713 | ||||||
Bank of Nova Scotia | 866 | 50,893 | ||||||
BlackBerry Ltd.* | 378 | 3,843 | ||||||
CAE, Inc. | 193 | 5,134 | ||||||
Cameco Corp. | 289 | 4,559 | ||||||
Canadian Apartment Properties REIT | 57 | 2,298 | ||||||
Canadian Imperial Bank of Commerce | 304 | 28,174 | ||||||
Canadian National Railway Co. | 510 | 55,959 | ||||||
Canadian Tire Corp. Ltd., Class A | 43 | 5,585 | ||||||
Canopy Growth Corp.* | 148 | 4,898 | ||||||
CGI, Inc.* | 166 | 12,457 | ||||||
Dollarama, Inc. | 195 | 7,460 | ||||||
Empire Co. Ltd., Class A | 130 | 3,632 | ||||||
Enbridge, Inc. | 1,456 | 49,430 | ||||||
FirstService Corp. | 34 | 5,186 | ||||||
Fortis, Inc. | 345 | 13,353 | ||||||
Franco-Nevada Corp. | 136 | 14,638 | ||||||
Gildan Activewear, Inc. | 165 | 5,040 | ||||||
Hydro One Ltd., 144A | 234 | 4,994 | ||||||
Intact Financial Corp. | 104 | 11,685 | ||||||
Inter Pipeline Ltd. | 307 | 4,343 | ||||||
Keyera Corp. (b) | 147 | 2,865 | ||||||
Loblaw Cos. Ltd. | 113 | 5,474 | ||||||
Lundin Mining Corp. | 473 | 5,444 | ||||||
Magna International, Inc. | 206 | 17,442 | ||||||
Manulife Financial Corp. | 1,400 | 28,055 | ||||||
Metro, Inc. | 185 | 7,730 | ||||||
Nutrien Ltd. | 397 | 21,540 | ||||||
Open Text Corp. | 174 | 7,790 | ||||||
Parkland Corp. | 120 | 3,833 | ||||||
Pembina Pipeline Corp. | 400 | 10,224 | ||||||
Ritchie Bros Auctioneers, Inc. | 74 | 4,060 | ||||||
Rogers Communications, Inc., Class B | 252 | 10,974 | ||||||
Shopify, Inc., Class A* | 77 | 100,278 |
See Notes to Financial Statements. | 11 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Canada (Continued) | ||||||||
Sun Life Financial, Inc. | 422 | $ | 20,413 | |||||
TELUS Corp. | 341 | 6,868 | ||||||
Toronto-Dominion Bank | 1,283 | 78,176 | ||||||
Wheaton Precious Metals Corp. | 314 | 11,290 | ||||||
WSP Global, Inc. | 69 | 6,007 | ||||||
|
| |||||||
(Cost $545,314) | 715,885 | |||||||
|
| |||||||
Chile — 0.1% | ||||||||
Empresas CMPC SA | 870 | 2,539 | ||||||
Empresas COPEC SA | 344 | 3,882 | ||||||
Enel Americas SA | 27,627 | 4,208 | ||||||
Falabella SA | 691 | 2,865 | ||||||
|
| |||||||
(Cost $17,226) | 13,494 | |||||||
|
| |||||||
China — 11.7% | ||||||||
3SBio, Inc., 144A* | 961 | 956 | ||||||
51job, Inc., ADR* | 19 | 1,246 | ||||||
AAC Technologies Holdings, Inc. (b) | 587 | 3,163 | ||||||
Air China Ltd., Class H | 1,505 | 1,242 | ||||||
Alibaba Group Holding Ltd., ADR* | 1,342 | 319,074 | ||||||
A-Living Smart City Services Co. Ltd., 144A | 301 | 1,261 | ||||||
Bank of Shanghai Co. Ltd., Class A | 1,300 | 1,681 | ||||||
Baoshan Iron & Steel Co. Ltd., Class A | 1,800 | 2,089 | ||||||
BYD Co. Ltd., Class A | 100 | 3,044 | ||||||
BYD Co. Ltd., Class H | 455 | 11,567 | ||||||
BYD Electronic International Co. Ltd. | 323 | 1,801 | ||||||
China CITIC Bank Corp. Ltd., Class H | 5,765 | 2,720 | ||||||
China Conch Venture Holdings Ltd. | 1,213 | 5,395 | ||||||
China Construction Bank Corp., Class H | 68,554 | 55,056 | ||||||
China Eastern Airlines Corp. Ltd., Class A | 1,000 | 728 | ||||||
China Lesso Group Holdings Ltd. | 841 | 1,555 | ||||||
China Literature Ltd., 144A* | 212 | 1,976 | ||||||
China Medical System Holdings Ltd. | 1,129 | 1,764 | ||||||
China Merchants Bank Co. Ltd., Class H | 2,873 | 22,055 | ||||||
China Merchants Shekou Industrial Zone Holdings Co. Ltd., Class A | 300 | 595 | ||||||
China Minsheng Banking Corp. Ltd., Class H | 5,002 | 2,985 | ||||||
China Molybdenum Co. Ltd., Class H | 2,790 | 2,158 | ||||||
China Resources Pharmaceutical Group Ltd., 144A | 1,134 | 724 | ||||||
China Vanke Co. Ltd., Class A | 500 | 2,554 | ||||||
China Vanke Co. Ltd., Class H | 1,182 | 5,013 | ||||||
CIFI Holdings Group Co. Ltd. | 2,000 | 1,895 | ||||||
CITIC Ltd. | 5,000 | 4,235 | ||||||
Contemporary Amperex Technology Co. Ltd., Class A | 100 | 4,973 | ||||||
Country Garden Services Holdings Co. Ltd. | 762 | 6,267 | ||||||
CSPC Pharmaceutical Group Ltd. | 6,636 | 6,929 | ||||||
Dali Foods Group Co. Ltd., 144A | 2,295 | 1,396 | ||||||
ENN Energy Holdings Ltd. | 577 | 8,844 | ||||||
Fosun International Ltd. | 1,660 | 2,491 | ||||||
Genscript Biotech Corp.* | 673 | 1,161 | ||||||
Greentown Service Group Co. Ltd. | 968 | 983 | ||||||
Guangzhou R&F Properties Co. Ltd., Class H | 800 | 1,068 | ||||||
Hansoh Pharmaceutical Group Co. Ltd., 144A* | 1,000 | 5,092 |
Number | Value | |||||||
China (Continued) | ||||||||
Huaxia Bank Co. Ltd., Class A | 1,400 | $ | 1,348 | |||||
Industrial Bank Co. Ltd., Class A | 1,100 | 4,190 | ||||||
Inner Mongolia Yili Industrial Group Co. Ltd., Class A | 300 | 2,001 | ||||||
Kingdee International Software Group Co. Ltd.* | 1,806 | 6,484 | ||||||
KWG Group Holdings Ltd. | 903 | 1,369 | ||||||
Lenovo Group Ltd. | 5,418 | 6,852 | ||||||
Logan Group Co. Ltd. | 976 | 1,520 | ||||||
Longfor Group Holdings Ltd., 144A | 1,300 | 7,709 | ||||||
Meituan, Class B, 144A* | 2,541 | 111,370 | ||||||
Microport Scientific Corp. | 500 | 2,942 | ||||||
NARI Technology Co. Ltd., Class A | 300 | 1,314 | ||||||
NIO, Inc., ADR* | 912 | 41,751 | ||||||
Ping An Healthcare and Technology Co. Ltd., 144A* (b) | 365 | 5,275 | ||||||
Poly Developments and Holdings Group Co. Ltd., Class A | 700 | 1,679 | ||||||
Shandong Weigao Group Medical Polymer Co. Ltd., Class H | 2,000 | 3,434 | ||||||
Shanghai Pharmaceuticals Holding Co. Ltd., Class H | 766 | 1,404 | ||||||
Shenzhen Inovance Technology Co. Ltd., Class A | 100 | 1,316 | ||||||
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A | 100 | 6,451 | ||||||
Sinopharm Group Co. Ltd., Class H | 908 | 2,126 | ||||||
Sinotruk Hong Kong Ltd. | 500 | 1,595 | ||||||
Suning.com Co. Ltd., Class A (c) | 800 | 864 | ||||||
Tencent Holdings Ltd. | 4,075 | 348,017 | ||||||
TravelSky Technology Ltd., Class H | 1,000 | 2,524 | ||||||
Vipshop Holdings Ltd., ADR* | 316 | 11,793 | ||||||
Want Want China Holdings Ltd. | 3,400 | 2,454 | ||||||
WuXi AppTec Co. Ltd., Class A | 140 | 3,104 | ||||||
WuXi AppTec Co. Ltd., Class H, 144A | 196 | 4,086 | ||||||
Wuxi Biologics Cayman, Inc., 144A* | 2,169 | 26,856 | ||||||
Xinjiang Goldwind Science & Technology Co. Ltd., Class H (b) | 1,036 | 2,217 | ||||||
Yunnan Baiyao Group Co. Ltd., Class A | 100 | 2,019 | ||||||
Zhejiang Expressway Co. Ltd., Class H | 1,141 | 996 | ||||||
Zoomlion Heavy Industry Science and Technology Co. Ltd., Class H | 1,000 | 1,524 | ||||||
|
| |||||||
(Cost $678,262) | 1,116,320 | |||||||
|
| |||||||
Colombia — 0.0% | ||||||||
Bancolombia SA | 200 | 1,737 | ||||||
|
| |||||||
Cyprus — 0.0% | ||||||||
Polymetal International PLC | 125 | 2,489 | ||||||
|
| |||||||
Czech Republic — 0.0% | ||||||||
Komercni banka AS* | 46 | 1,446 | ||||||
|
| |||||||
Denmark — 2.1% | ||||||||
Chr Hansen Holding A/S* | 73 | 6,301 | ||||||
Coloplast A/S, Class B | 80 | 12,260 |
See Notes to Financial Statements. | 12 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Denmark (Continued) | ||||||||
Demant A/S* | 75 | $ | 3,108 | |||||
Genmab A/S* | 45 | 15,205 | ||||||
GN Store Nord AS | 91 | 7,695 | ||||||
H Lundbeck A/S | 52 | 1,992 | ||||||
Novo Nordisk A/S, Class B | 1,219 | 87,143 | ||||||
Novozymes A/S, Class B* | 150 | 9,324 | ||||||
Orsted AS, 144A | 136 | 22,155 | ||||||
Pandora A/S | 70 | 6,851 | ||||||
Tryg A/S | 104 | 3,293 | ||||||
Vestas Wind Systems A/S | 143 | 26,949 | ||||||
|
| |||||||
(Cost $121,142) | 202,276 | |||||||
|
| |||||||
Egypt — 0.0% | ||||||||
Commercial International Bank Egypt SAE (Cost $3,328) | 983 | 3,904 | ||||||
|
| |||||||
Finland — 0.6% | ||||||||
Elisa OYJ | 103 | 6,170 | ||||||
Kesko OYJ, Class B | 150 | 3,831 | ||||||
Neste OYJ | 305 | 20,161 | ||||||
Orion OYJ, Class B | 74 | 3,051 | ||||||
Stora Enso OYJ, Class R | 402 | 7,966 | ||||||
UPM-Kymmene OYJ | 391 | 14,997 | ||||||
Wartsila OYJ Abp | 318 | 3,668 | ||||||
|
| |||||||
(Cost $42,107) | 59,844 | |||||||
|
| |||||||
France — 6.1% | ||||||||
Accor SA* | 126 | 5,286 | ||||||
Air Liquide SA (b) | 335 | 50,706 | ||||||
Amundi SA, 144A* | 43 | 3,288 | ||||||
Atos SE* | 73 | 5,726 | ||||||
AXA SA | 1,385 | 34,967 | ||||||
Bouygues SA | 159 | 6,477 | ||||||
Carrefour SA | 432 | 7,574 | ||||||
Cie de Saint-Gobain* | 370 | 19,949 | ||||||
Cie Generale des Etablissements Michelin SCA | 121 | 17,588 | ||||||
CNP Assurances* | 105 | 1,900 | ||||||
Covivio REIT | 37 | 3,128 | ||||||
Credit Agricole SA* | 859 | 12,110 | ||||||
Danone SA | 431 | 29,537 | ||||||
Dassault Systemes SE | 92 | 19,196 | ||||||
Eiffage SA* | 61 | 6,305 | ||||||
EssilorLuxottica SA | 202 | 33,100 | ||||||
Eurazeo SE* | 20 | 1,489 | ||||||
Gecina SA REIT | 34 | 4,734 | ||||||
Getlink SE* | 349 | 5,749 | ||||||
Kering SA | 54 | 34,405 | ||||||
Klepierre SA REIT | 142 | 3,370 | ||||||
L’Oreal SA | 178 | 65,422 | ||||||
Natixis SA* | 593 | 2,905 | ||||||
Orange SA | 1,426 | 16,526 | ||||||
Publicis Groupe SA | 156 | 9,191 | ||||||
Schneider Electric SE | 381 | 56,813 | ||||||
SEB SA | 16 | 2,888 | ||||||
Teleperformance | 43 | 15,298 | ||||||
TOTAL SE (b) | 1,804 | 84,030 | ||||||
Ubisoft Entertainment SA* | 64 | 5,250 |
Number | Value | |||||||
France (Continued) | ||||||||
Unibail-Rodamco-Westfield REIT | 100 | $ | 7,382 | |||||
Valeo SA | 160 | 5,679 | ||||||
Wendel SE | 22 | 2,529 | ||||||
|
| |||||||
(Cost $503,269) | 580,497 | |||||||
|
| |||||||
Germany — 5.3% | ||||||||
adidas AG* | 135 | 47,340 | ||||||
Allianz SE | 292 | 70,815 | ||||||
BASF SE | 642 | 52,779 | ||||||
Bayerische Motoren Werke AG | 236 | 20,482 | ||||||
Beiersdorf AG | 74 | 7,356 | ||||||
Commerzbank AG* | 724 | 4,772 | ||||||
Delivery Hero SE, 144A* | 91 | 11,675 | ||||||
Deutsche Boerse AG | 134 | 22,047 | ||||||
Deutsche Wohnen SE | 258 | 12,198 | ||||||
HeidelbergCement AG | 98 | 7,789 | ||||||
Henkel AG & Co. KGaA | 67 | 5,969 | ||||||
Merck KGaA | 88 | 14,372 | ||||||
MTU Aero Engines AG | 38 | 9,087 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 102 | 30,085 | ||||||
SAP SE | 743 | 92,043 | ||||||
Siemens AG | 547 | 84,972 | ||||||
Symrise AG | 89 | 10,449 | ||||||
Telefonica Deutschland Holding AG | 511 | 1,371 | ||||||
|
| |||||||
(Cost $417,413) | 505,601 | |||||||
|
| |||||||
Greece — 0.0% | ||||||||
Hellenic Telecommunications Organization SA | 119 | 1,840 | ||||||
|
| |||||||
Hong Kong — 1.8% | ||||||||
Alibaba Health Information Technology Ltd.* | 2,674 | 8,962 | ||||||
ASM Pacific Technology Ltd. | 245 | 3,408 | ||||||
Beijing Enterprises Water Group Ltd.* | 4,000 | 1,583 | ||||||
BOC Hong Kong Holdings Ltd. | 2,732 | 9,086 | ||||||
China Everbright Environment Group Ltd. | 2,618 | 1,499 | ||||||
China Gas Holdings Ltd. | 1,866 | 7,517 | ||||||
China Mengniu Dairy Co. Ltd.* | 2,095 | 11,451 | ||||||
China Overseas Land & Investment Ltd. | 2,894 | 7,327 | ||||||
China Resources Gas Group Ltd. | 641 | 3,202 | ||||||
Geely Automobile Holdings Ltd. | 3,802 | 12,351 | ||||||
Hang Seng Bank Ltd. | 563 | 10,887 | ||||||
HKT Trust & HKT Ltd. (a) | 2,998 | 4,073 | ||||||
Hong Kong & China Gas Co. Ltd. | 7,942 | 11,979 | ||||||
Hong Kong Exchanges & Clearing Ltd. | 867 | 52,887 | ||||||
Hutchison China MediTech Ltd., ADR* | 43 | 1,236 | ||||||
Lee & Man Paper Manufacturing Ltd. | 1,293 | 1,198 | ||||||
MTR Corp. Ltd. | 1,149 | 6,895 | ||||||
PCCW Ltd. | 3,393 | 1,946 | ||||||
Shenzhen Investment Ltd. | 985 | 354 | ||||||
Sino Biopharmaceutical Ltd. | 7,713 | 8,581 | ||||||
Swire Pacific Ltd., Class A | 377 | 2,763 | ||||||
Swire Properties Ltd. | 1,018 | 3,274 | ||||||
Wharf Holdings Ltd. | 1,000 | 2,359 | ||||||
|
| |||||||
(Cost $139,121) | 174,818 | |||||||
|
|
See Notes to Financial Statements. | 13 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Hungary — 0.1% | ||||||||
MOL Hungarian Oil & Gas PLC* | 348 | $ | 2,513 | |||||
OTP Bank Nyrt* | 153 | 6,996 | ||||||
Richter Gedeon Nyrt | 94 | 2,698 | ||||||
|
| |||||||
(Cost $12,473) | 12,207 | |||||||
|
| |||||||
India — 3.3% | ||||||||
Adani Green Energy Ltd.* | 275 | 4,340 | ||||||
Ambuja Cements Ltd. | 440 | 1,638 | ||||||
Asian Paints Ltd. | 278 | 8,615 | ||||||
Axis Bank Ltd., GDR* | 175 | 8,610 | ||||||
Axis Bank Ltd.* | 700 | 6,904 | ||||||
Berger Paints India Ltd. | 169 | 1,563 | ||||||
Bharat Petroleum Corp. Ltd. | 389 | 2,381 | ||||||
Bharti Airtel Ltd. | 1,640 | 12,415 | ||||||
Britannia Industries Ltd. | 86 | 3,937 | ||||||
Colgate-Palmolive India Ltd. | 87 | 1,872 | ||||||
Dabur India Ltd. | 360 | 2,465 | ||||||
DLF Ltd. | 421 | 1,733 | ||||||
Eicher Motors Ltd. | 80 | 2,720 | ||||||
Grasim Industries Ltd. | 216 | 3,530 | ||||||
Havells India Ltd. | 185 | 2,783 | ||||||
HCL Technologies Ltd. | 767 | 9,492 | ||||||
Hero MotoCorp Ltd. | 72 | 3,159 | ||||||
Hindalco Industries Ltd. | 1,148 | 5,315 | ||||||
Hindustan Petroleum Corp. Ltd. | 450 | 1,485 | ||||||
Hindustan Unilever Ltd. | 596 | 17,292 | ||||||
Housing Development Finance Corp. Ltd. | 1,228 | 42,436 | ||||||
Infosys Ltd. | 1,180 | 20,125 | ||||||
Infosys Ltd., ADR | 1,321 | 22,615 | ||||||
Lupin Ltd. | 164 | 2,273 | ||||||
Mahindra & Mahindra Ltd. | 643 | 7,056 | ||||||
Marico Ltd. | 368 | 1,991 | ||||||
Nestle India Ltd. | 24 | 5,259 | ||||||
Pidilite Industries Ltd. | 88 | 2,019 | ||||||
Piramal Enterprises Ltd. | 68 | 1,693 | ||||||
Reliance Industries Ltd. | 2,052 | 58,244 | ||||||
Shree Cement Ltd.* | 6 | 2,164 | ||||||
Tata Consultancy Services Ltd. | 668 | 26,310 | ||||||
Tech Mahindra Ltd. | 462 | 5,777 | ||||||
Titan Co. Ltd. | 275 | 5,265 | ||||||
UPL Ltd. | 480 | 3,668 | ||||||
Wipro Ltd. | 850 | 4,746 | ||||||
|
| |||||||
(Cost $246,889) | 313,890 | |||||||
|
| |||||||
Indonesia — 0.5% | ||||||||
PT Bank Central Asia Tbk | 6,823 | 16,075 | ||||||
PT Bank Mandiri Persero Tbk* | 13,891 | 5,999 | ||||||
PT Bank Negara Indonesia Persero Tbk | 5,468 | 2,285 | ||||||
PT Bank Rakyat Indonesia Persero Tbk* | 40,841 | 13,508 | ||||||
PT Barito Pacific Tbk* | 19,700 | 1,522 | ||||||
PT Indah Kiat Pulp & Paper Corp. Tbk | 2,093 | 1,936 | ||||||
PT Indofood Sukses Makmur Tbk | 2,981 | 1,267 | ||||||
PT Kalbe Farma Tbk | 15,558 | 1,606 | ||||||
PT Perusahaan Gas Negara Tbk | 8,505 | 860 | ||||||
PT Unilever Indonesia Tbk | 6,190 | 3,043 | ||||||
|
| |||||||
(Cost $45,557) | 48,101 | |||||||
|
|
Number | Value | |||||||
Ireland — 0.6% | ||||||||
CRH PLC | 572 | $ | 24,856 | |||||
DCC PLC | 78 | 6,292 | ||||||
Kerry Group PLC, Class A | 111 | 13,467 | ||||||
Kingspan Group PLC* | 108 | 7,898 | ||||||
|
| |||||||
(Cost $38,596) | 52,513 | |||||||
|
| |||||||
Israel — 0.2% | ||||||||
Bank Hapoalim BM* | 859 | 6,094 | ||||||
Bank Leumi Le-Israel BM | 1,118 | 6,834 | ||||||
Mizrahi Tefahot Bank Ltd. | 116 | 2,779 | ||||||
|
| |||||||
(Cost $15,215) | 15,707 | |||||||
|
| |||||||
Italy — 1.0% | ||||||||
Assicurazioni Generali SpA | 790 | 14,911 | ||||||
Enel SpA | 5,708 | 54,346 | ||||||
Intesa Sanpaolo SpA* | 11,857 | 30,713 | ||||||
|
| |||||||
(Cost $84,805) | 99,970 | |||||||
|
| |||||||
Japan — 16.2% | ||||||||
Aeon Co. Ltd. | 500 | 15,032 | ||||||
Ajinomoto Co., Inc. | 300 | 5,967 | ||||||
ANA Holdings, Inc.* | 100 | 2,397 | ||||||
Asahi Kasei Corp. | 900 | 9,681 | ||||||
Astellas Pharma, Inc. | 1,300 | 20,426 | ||||||
Bridgestone Corp. | 400 | 15,622 | ||||||
Capcom Co. Ltd. | 50 | 3,041 | ||||||
Casio Computer Co. Ltd. | 100 | 1,926 | ||||||
Central Japan Railway Co. | 100 | 16,341 | ||||||
Chugai Pharmaceutical Co. Ltd. | 510 | 22,800 | ||||||
CyberAgent, Inc. | 100 | 6,026 | ||||||
Dai Nippon Printing Co. Ltd. | 200 | 3,593 | ||||||
Daifuku Co. Ltd. | 80 | 7,644 | ||||||
Dai-ichi Life Holdings, Inc. | 800 | 14,034 | ||||||
Daiichi Sankyo Co. Ltd. | 1,200 | 33,903 | ||||||
Daikin Industries Ltd. | 190 | 36,951 | ||||||
Daiwa House Industry Co. Ltd. | 400 | 11,275 | ||||||
Denso Corp. | 300 | 17,988 | ||||||
East Japan Railway Co. | 230 | 16,962 | ||||||
Eisai Co. Ltd. | 200 | 13,739 | ||||||
ENEOS Holdings, Inc. | 2,200 | 9,658 | ||||||
Fast Retailing Co. Ltd. | 44 | 43,364 | ||||||
Fujitsu Ltd. | 150 | 21,626 | ||||||
Hankyu Hanshin Holdings, Inc. | 100 | 3,318 | ||||||
Hino Motors Ltd. | 200 | 1,877 | ||||||
Hirose Electric Co. Ltd. | 25 | 3,647 | ||||||
Hitachi Construction Machinery Co. Ltd. | 100 | 3,074 | ||||||
Hitachi Metals Ltd. | 200 | 3,171 | ||||||
Honda Motor Co. Ltd. | 1,100 | 30,061 | ||||||
Hulic Co. Ltd. | 200 | 2,230 | ||||||
Inpex Corp. | 700 | 5,151 | ||||||
Isuzu Motors Ltd. | 300 | 3,137 | ||||||
Japan Retail Fund Investment Corp. REIT | 7 | 6,919 | ||||||
JFE Holdings, Inc.* | 300 | 3,148 | ||||||
Kajima Corp. | 300 | 3,824 | ||||||
Kansai Paint Co. Ltd. | 100 | 2,611 | ||||||
Kao Corp. | 350 | 23,469 | ||||||
KDDI Corp. | 1,100 | 33,968 | ||||||
Keio Corp. | 100 | 7,462 |
See Notes to Financial Statements. | 14 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Japan (Continued) | ||||||||
Keyence Corp. | 130 | $ | 61,693 | |||||
Kikkoman Corp. | 100 | 6,598 | ||||||
Kobayashi Pharmaceutical Co. Ltd. | 50 | 4,721 | ||||||
Kobe Bussan Co. Ltd. | 100 | 2,567 | ||||||
Komatsu Ltd. | 600 | 17,965 | ||||||
Konami Holdings Corp. | 50 | 3,205 | ||||||
Kubota Corp. | 800 | 18,078 | ||||||
Kuraray Co. Ltd. | 200 | 2,238 | ||||||
Kurita Water Industries Ltd. | 100 | 4,045 | ||||||
Kyushu Railway Co. | 100 | 2,602 | ||||||
Lawson, Inc. | 50 | 2,335 | ||||||
Marubeni Corp. | 1,100 | 8,174 | ||||||
Marui Group Co. Ltd. | 100 | 1,897 | ||||||
Mazda Motor Corp. | 200 | 1,575 | ||||||
Mercari, Inc.* | 100 | 4,806 | ||||||
Mitsubishi Chemical Holdings Corp. | 800 | 5,555 | ||||||
Mitsubishi Estate Co. Ltd. | 900 | 15,527 | ||||||
Mitsubishi UFJ Lease & Finance Co. Ltd. | 300 | 1,608 | ||||||
Mitsui Chemicals, Inc. | 100 | 3,079 | ||||||
Mitsui Fudosan Co. Ltd. | 600 | 13,516 | ||||||
Miura Co. Ltd. | 50 | 2,586 | ||||||
Mizuho Financial Group, Inc. | 1,660 | 24,291 | ||||||
MS&AD Insurance Group Holdings, Inc. | 300 | 8,448 | ||||||
Murata Manufacturing Co. Ltd. | 400 | 34,094 | ||||||
Nabtesco Corp. | 100 | 4,243 | ||||||
Nagoya Railroad Co. Ltd. | 100 | 2,538 | ||||||
NEC Corp. | 200 | 10,888 | ||||||
NGK Insulators Ltd. | 200 | 3,529 | ||||||
NGK Spark Plug Co. Ltd. | 100 | 1,691 | ||||||
Nintendo Co. Ltd. | 80 | 48,620 | ||||||
Nippon Building Fund, Inc. REIT | 1 | 6,110 | ||||||
Nippon Express Co. Ltd. | 50 | 3,717 | ||||||
Nippon Paint Holdings Co. Ltd. | 100 | 7,434 | ||||||
Nippon Prologis REIT, Inc. REIT | 2 | 6,120 | ||||||
Nippon Yusen KK | 100 | 2,867 | ||||||
Nissin Foods Holdings Co. Ltd. | 50 | 3,778 | ||||||
Nitori Holdings Co. Ltd. | 60 | 11,193 | ||||||
Nitto Denko Corp. | 100 | 8,532 | ||||||
Nomura Real Estate Holdings, Inc. | 100 | 2,252 | ||||||
Nomura Real Estate Master Fund, Inc. REIT | 3 | 4,491 | ||||||
Nomura Research Institute Ltd. | 200 | 6,214 | ||||||
NSK Ltd. | 300 | 2,937 | ||||||
Obayashi Corp. | 400 | 3,428 | ||||||
Odakyu Electric Railway Co. Ltd. | 200 | 5,848 | ||||||
Omron Corp. | 150 | 12,080 | ||||||
Ono Pharmaceutical Co. Ltd. | 300 | 8,065 | ||||||
Oriental Land Co. Ltd. | 150 | 25,117 | ||||||
ORIX Corp. | 900 | 15,218 | ||||||
Osaka Gas Co. Ltd. | 300 | 5,367 | ||||||
Otsuka Corp. | 100 | 4,646 | ||||||
Panasonic Corp. | 1,600 | 20,507 | ||||||
Rakuten, Inc. | 500 | 5,589 | ||||||
Recruit Holdings Co. Ltd. | 900 | 44,611 | ||||||
Resona Holdings, Inc. | 1,500 | 6,022 | ||||||
Rohm Co. Ltd. | 50 | 4,914 | ||||||
Santen Pharmaceutical Co. Ltd. | 300 | 4,117 | ||||||
Secom Co. Ltd. | 150 | 12,989 |
Number | Value | |||||||
Japan (Continued) | ||||||||
Sega Sammy Holdings, Inc. | 100 | $ | 1,679 | |||||
Sekisui Chemical Co. Ltd. | 300 | 5,336 | ||||||
Sekisui House Ltd. | 400 | 7,498 | ||||||
Seven & i Holdings Co. Ltd. | 500 | 18,946 | ||||||
SG Holdings Co. Ltd. | 200 | 4,595 | ||||||
Sharp Corp. | 200 | 3,779 | ||||||
Shimadzu Corp. | 100 | 3,595 | ||||||
Shimizu Corp. | 400 | 3,022 | ||||||
Shin-Etsu Chemical Co. Ltd. | 250 | 40,712 | ||||||
Shionogi & Co. Ltd. | 200 | 10,161 | ||||||
Shiseido Co. Ltd. | 300 | 22,282 | ||||||
SoftBank Corp. | 1,900 | 25,698 | ||||||
Sohgo Security Services Co. Ltd. | 50 | 2,253 | ||||||
Sompo Holdings, Inc. | 250 | 9,574 | ||||||
Sony Corp. | 900 | 93,937 | ||||||
Stanley Electric Co. Ltd. | 100 | 2,961 | ||||||
Sumitomo Chemical Co. Ltd. | 1,100 | 5,317 | ||||||
Sumitomo Metal Mining Co. Ltd. | 200 | 9,653 | ||||||
Sumitomo Mitsui Trust Holdings, Inc. | 200 | 6,574 | ||||||
Suntory Beverage & Food Ltd. | 100 | 3,421 | ||||||
Sysmex Corp. | 100 | 10,405 | ||||||
T&D Holdings, Inc. | 400 | 5,391 | ||||||
Taisei Corp. | 100 | 3,524 | ||||||
Takeda Pharmaceutical Co. Ltd. | 1,100 | 36,983 | ||||||
TDK Corp. | 100 | 14,304 | ||||||
Teijin Ltd. | 100 | 1,718 | ||||||
Tobu Railway Co. Ltd. | 100 | 2,844 | ||||||
Toho Gas Co. Ltd. | 50 | 2,938 | ||||||
Tokyo Electron Ltd. | 105 | 42,921 | ||||||
Tokyo Gas Co. Ltd. | 200 | 4,134 | ||||||
Tokyu Corp. | 300 | 4,122 | ||||||
Toppan Printing Co. Ltd. | 100 | 1,569 | ||||||
Toray Industries, Inc. | 1,000 | 6,538 | ||||||
TOTO Ltd. | 100 | 6,017 | ||||||
Toyo Suisan Kaisha Ltd. | 100 | 4,261 | ||||||
Toyota Tsusho Corp. | 100 | 4,186 | ||||||
Unicharm Corp. | 300 | 11,872 | ||||||
USS Co. Ltd. | 200 | 3,800 | ||||||
West Japan Railway Co. | 100 | 6,114 | ||||||
Yakult Honsha Co. Ltd. | 100 | 4,947 | ||||||
Yamada Holdings Co. Ltd. | 400 | 1,911 | ||||||
Yamaha Corp. | 100 | 5,566 | ||||||
Yamaha Motor Co. Ltd. | 200 | 4,353 | ||||||
Yaskawa Electric Corp. | 200 | 9,987 | ||||||
Yokogawa Electric Corp. | 200 | 3,784 | ||||||
Z Holdings Corp. | 2,000 | 12,174 | �� | |||||
ZOZO, Inc. | 100 | 3,126 | ||||||
|
| |||||||
(Cost $1,234,270) | 1,554,420 | |||||||
|
| |||||||
Jordan — 0.0% | ||||||||
Hikma Pharmaceuticals PLC | 99 | 3,095 | ||||||
|
| |||||||
Luxembourg — 0.1% | ||||||||
SES SA | 269 | 2,160 | ||||||
Tenaris SA | 322 | 3,379 | ||||||
|
| |||||||
(Cost $9,792) | 5,539 | |||||||
|
|
See Notes to Financial Statements. | 15 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Malaysia — 0.6% | ||||||||
AMMB Holdings Bhd | 1,400 | $ | 1,093 | |||||
Axiata Group Bhd | 2,152 | 1,888 | ||||||
CIMB Group Holdings Bhd | 3,587 | 3,837 | ||||||
Dialog Group Bhd | 2,800 | 2,234 | ||||||
DiGi.Com Bhd | 2,500 | 2,285 | ||||||
Fraser & Neave Holdings Bhd | 200 | 1,545 | ||||||
HAP Seng Consolidated Bhd | 500 | 1,051 | ||||||
Hartalega Holdings Bhd | 1,000 | 2,471 | ||||||
IHH Healthcare Bhd | 1,900 | 2,385 | ||||||
Kossan Rubber Industries | 1,100 | 1,074 | ||||||
Kuala Lumpur Kepong Bhd | 300 | 1,742 | ||||||
Malayan Banking Bhd | 2,909 | 5,771 | ||||||
Malaysia Airports Holdings Bhd | 900 | 1,332 | ||||||
Maxis Bhd | 2,100 | 2,464 | ||||||
MISC Bhd | 900 | 1,508 | ||||||
Nestle Malaysia Bhd | 19 | 647 | ||||||
Petronas Dagangan Bhd | 300 | 1,482 | ||||||
Petronas Gas Bhd | 600 | 2,431 | ||||||
PPB Group Bhd | 400 | 1,862 | ||||||
Press Metal Aluminium Holdings Bhd | 1,100 | 2,633 | ||||||
Public Bank Bhd | 10,500 | 10,792 | ||||||
RHB Bank Bhd | 900 | 1,205 | ||||||
Sime Darby Bhd | 2,000 | 1,122 | ||||||
Supermax Corp. Bhd | 1,328 | 1,588 | ||||||
Top Glove Corp. Bhd | 3,000 | 3,884 | ||||||
Westports Holdings Bhd | 1,100 | 1,109 | ||||||
|
| |||||||
(Cost $64,619) | 61,435 | |||||||
|
| |||||||
Mexico — 0.3% | ||||||||
Arca Continental SAB de CV | 349 | 1,582 | ||||||
Cemex SAB de CV, Series CPO* | 11,057 | 7,371 | ||||||
Coca-Cola Femsa SAB de CV | 384 | 1,612 | ||||||
Fomento Economico Mexicano SAB de CV | 1,459 | 9,987 | ||||||
Gruma SAB de CV, Class B | 161 | 1,756 | ||||||
Grupo Aeroportuario del Sureste SAB de CV, Class B* | 173 | 3,239 | ||||||
Grupo Bimbo SAB de CV, Series A | 1,236 | 2,323 | ||||||
Industrias Penoles SAB de CV* | 103 | 1,414 | ||||||
Infraestructura Energetica Nova SAB de CV* | 331 | 1,153 | ||||||
Kimberly-Clark de Mexico SAB de CV, Class A | 1,156 | 1,849 | ||||||
|
| |||||||
(Cost $32,192) | 32,286 | |||||||
|
| |||||||
Netherlands — 3.9% | ||||||||
Aegon NV | 1,174 | 5,637 | ||||||
Akzo Nobel NV | 140 | 14,539 | ||||||
ASML Holding NV | 302 | 170,582 | ||||||
ING Groep NV | 2,761 | 30,293 | ||||||
Koninklijke Ahold Delhaize NV | 777 | 20,598 | ||||||
Koninklijke DSM NV | 123 | 20,387 | ||||||
Koninklijke KPN NV | 2,733 | 8,983 | ||||||
Koninklijke Philips NV* | 636 | 34,704 | ||||||
Koninklijke Vopak NV | 38 | 1,822 | ||||||
NN Group NV | 206 | 9,552 | ||||||
Prosus NV* | 348 | 41,421 |
Number | Value | |||||||
Netherlands (Continued) | ||||||||
Wolters Kluwer NV | 193 | $ | 15,387 | |||||
|
| |||||||
(Cost $220,347) | 373,905 | |||||||
|
| |||||||
New Zealand — 0.3% | ||||||||
Auckland International Airport Ltd.* | 706 | 3,876 | ||||||
Fisher & Paykel Healthcare Corp. Ltd. | 409 | 8,699 | ||||||
Mercury NZ Ltd. | 509 | 2,239 | ||||||
Meridian Energy Ltd. | 827 | 3,427 | ||||||
Ryman Healthcare Ltd. | 374 | 3,984 | ||||||
Spark New Zealand Ltd. | 1,311 | 4,375 | ||||||
|
| |||||||
(Cost $21,761) | 26,600 | |||||||
|
| |||||||
Norway — 0.3% | ||||||||
Mowi ASA | 310 | 7,538 | ||||||
Norsk Hydro ASA | 954 | 5,317 | ||||||
Orkla ASA | 478 | 4,433 | ||||||
Schibsted ASA, Class B* | 73 | 2,524 | ||||||
Telenor ASA | 537 | 8,739 | ||||||
|
| |||||||
(Cost $29,022) | 28,551 | |||||||
|
| |||||||
Philippines — 0.3% | ||||||||
Ayala Corp. | 200 | 3,083 | ||||||
Ayala Land, Inc. | 5,800 | 4,668 | ||||||
Bank of the Philippine Islands | 790 | 1,449 | ||||||
BDO Unibank, Inc. | 1,500 | 3,262 | ||||||
JG Summit Holdings, Inc. | 1,785 | 2,371 | ||||||
Manila Electric Co. | 150 | 838 | ||||||
Metropolitan Bank & Trust Co. | 1,582 | 1,653 | ||||||
SM Investments Corp. | 160 | 3,327 | ||||||
SM Prime Holdings, Inc. | 8,000 | 5,961 | ||||||
|
| |||||||
(Cost $26,434) | 26,612 | |||||||
|
| |||||||
Poland — 0.3% | ||||||||
Bank Polska Kasa Opieki SA* | 118 | 2,148 | ||||||
CD Projekt SA* | 45 | 2,858 | ||||||
Cyfrowy Polsat SA | 205 | 1,574 | ||||||
KGHM Polska Miedz SA* | 94 | 4,778 | ||||||
Polski Koncern Naftowy ORLEN SA | 251 | 3,965 | ||||||
Powszechna Kasa Oszczednosci Bank Polski SA* | 540 | 4,370 | ||||||
Powszechny Zaklad Ubezpieczen SA* | 423 | 3,324 | ||||||
Santander Bank Polska SA* | 23 | 1,299 | ||||||
|
| |||||||
(Cost $29,951) | 24,316 | |||||||
|
| |||||||
Portugal — 0.1% | ||||||||
Galp Energia SGPS SA | 411 | 4,632 | ||||||
Jeronimo Martins SGPS SA | 203 | 3,166 | ||||||
|
| |||||||
(Cost $9,297) | 7,798 | |||||||
|
| |||||||
Qatar — 0.2% | ||||||||
Commercial Bank PSQC | 1,380 | 1,622 | ||||||
Ooredoo QPSC | 670 | 1,417 | ||||||
Qatar Fuel QSC | 350 | 1,622 | ||||||
Qatar National Bank QPSC | 3,331 | 15,778 | ||||||
|
| |||||||
(Cost $21,836) | 20,439 | |||||||
|
| |||||||
Romania — 0.0% | ||||||||
NEPI Rockcastle PLC | 296 | 1,813 | ||||||
|
|
See Notes to Financial Statements. | 16 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Russia — 0.6% | ||||||||
Gazprom PJSC | 8,515 | $ | 25,007 | |||||
LUKOIL PJSC | 303 | 22,778 | ||||||
Mobile TeleSystems PJSC, ADR | 346 | 2,844 | ||||||
Novolipetsk Steel PJSC | 886 | 2,661 | ||||||
PhosAgro PJSC, GDR | 105 | 1,842 | ||||||
Polyus PJSC | 21 | 3,957 | ||||||
|
| |||||||
(Cost $56,347) | 59,089 | |||||||
|
| |||||||
Saudi Arabia — 0.4% | ||||||||
Almarai Co. JSC | 185 | 2,515 | ||||||
Banque Saudi Fransi | 401 | 2,983 | ||||||
Samba Financial Group | 635 | 5,714 | ||||||
Saudi Arabian Mining Co.* | 302 | 4,139 | ||||||
Saudi Basic Industries Corp. | 638 | 18,134 | ||||||
Savola Group | 174 | 1,747 | ||||||
|
| |||||||
(Cost $34,047) | 35,232 | |||||||
|
| |||||||
Singapore — 0.9% | ||||||||
Ascendas Real Estate Investment Trust REIT | 2,044 | 4,519 | ||||||
BOC Aviation Ltd., 144A | 179 | 1,731 | ||||||
CapitaLand Integrated Commercial Trust REIT | 3,096 | 4,890 | ||||||
CapitaLand Ltd. | 1,800 | 4,305 | ||||||
City Developments Ltd. | 300 | 1,661 | ||||||
DBS Group Holdings Ltd. | 1,310 | 26,245 | ||||||
Keppel Corp. Ltd. | 1,000 | 3,820 | ||||||
Singapore Airlines Ltd.* | 1,000 | 3,745 | ||||||
Singapore Exchange Ltd. | 500 | 3,757 | ||||||
Singapore Telecommunications Ltd. | 5,600 | 9,897 | ||||||
United Overseas Bank Ltd. | 800 | 14,848 | ||||||
UOL Group Ltd. | 400 | 2,223 | ||||||
|
| |||||||
(Cost $77,078) | 81,641 | |||||||
|
| |||||||
South Africa — 1.8% | ||||||||
Absa Group Ltd. | 507 | 4,062 | ||||||
Anglo American Platinum Ltd. | 37 | 4,481 | ||||||
Aspen Pharmacare Holdings Ltd.* | 289 | 2,718 | ||||||
Bid Corp. Ltd. | 185 | 3,461 | ||||||
Bidvest Group Ltd. | 240 | 2,666 | ||||||
Capitec Bank Holdings Ltd.* | 40 | 3,536 | ||||||
Clicks Group Ltd. | 194 | 3,135 | ||||||
FirstRand Ltd. | 3,385 | 11,246 | ||||||
Gold Fields Ltd. | 587 | 4,875 | ||||||
Growthpoint Properties Ltd. REIT | 2,399 | 2,165 | ||||||
Impala Platinum Holdings Ltd. | 550 | 8,935 | ||||||
Kumba Iron Ore Ltd. | 42 | 1,800 | ||||||
Mr Price Group Ltd. | 212 | 2,441 | ||||||
MTN Group Ltd. | 1,249 | 5,994 | ||||||
MultiChoice Group | 327 | 2,756 | ||||||
Naspers Ltd., Class N | 311 | 72,235 | ||||||
Nedbank Group Ltd. | 290 | 2,501 | ||||||
Northam Platinum Ltd.* | 264 | 3,868 | ||||||
Old Mutual Ltd. | 3,667 | 3,256 | ||||||
Remgro Ltd. | 410 | 2,805 | ||||||
Sanlam Ltd. | 1,309 | 5,253 | ||||||
Shoprite Holdings Ltd. | 317 | 2,785 | ||||||
SPAR Group Ltd. | 143 | 1,797 |
Number | Value | |||||||
South Africa (Continued) | ||||||||
Standard Bank Group Ltd. | 927 | $ | 8,140 | |||||
Vodacom Group Ltd. | 442 | 3,635 | ||||||
Woolworths Holdings Ltd. | 771 | 2,348 | ||||||
|
| |||||||
(Cost $180,756) | 172,894 | |||||||
|
| |||||||
South Korea — 2.1% | ||||||||
Amorepacific Corp. | 20 | 4,174 | ||||||
AMOREPACIFIC Group | 25 | 1,440 | ||||||
CJ CheilJedang Corp. | 7 | 2,533 | ||||||
CJ Corp. | 12 | 990 | ||||||
GS Engineering & Construction Corp. | 46 | 1,488 | ||||||
GS Holdings Corp. | 38 | 1,319 | ||||||
Hana Financial Group, Inc. | 223 | 7,354 | ||||||
Hankook Tire & Technology Co. Ltd. | 59 | 2,502 | ||||||
Hanwha Solutions Corp.* | 106 | 4,250 | ||||||
Hyundai Heavy Industries Holdings Co. Ltd. | 7 | 1,685 | ||||||
Hyundai Marine & Fire Insurance Co. Ltd. | 48 | 936 | ||||||
KB Financial Group, Inc. | 294 | 11,462 | ||||||
LG Chem Ltd. | 33 | 24,409 | ||||||
LG Corp. | 70 | 5,850 | ||||||
LG Display Co. Ltd. | 169 | 3,400 | ||||||
LG Electronics, Inc. | 81 | 10,562 | ||||||
LG Household & Health Care Ltd. | 7 | 9,427 | ||||||
LG Innotek Co. Ltd. | 3 | 531 | ||||||
Lotte Chemical Corp. | 13 | 3,680 | ||||||
Lotte Corp. | 25 | 748 | ||||||
NAVER Corp. | 89 | 29,706 | ||||||
Samsung Electro-Mechanics Co. Ltd. | 40 | 6,747 | ||||||
Samsung Fire & Marine Insurance Co. Ltd. | 23 | 3,542 | ||||||
Samsung SDI Co. Ltd. | 40 | 23,996 | ||||||
Shinhan Financial Group Co. Ltd. | 317 | 9,297 | ||||||
SK Holdings Co. Ltd. | 24 | 5,608 | ||||||
SK Innovation Co. Ltd.* | 34 | 7,883 | ||||||
SK Telecom Co. Ltd. | 28 | 6,168 | ||||||
S-Oil Corp.* | 33 | 2,497 | ||||||
Woori Financial Group, Inc. | 388 | 3,308 | ||||||
Yuhan Corp. | 31 | 1,711 | ||||||
|
| |||||||
(Cost $148,888) | 199,203 | |||||||
|
| |||||||
Spain — 1.6% | ||||||||
Banco Bilbao Vizcaya Argentaria SA | 4,875 | 27,237 | ||||||
CaixaBank SA | 2,656 | 7,760 | ||||||
Iberdrola SA | 4,297 | 54,374 | ||||||
Industria de Diseno Textil SA | 785 | 26,022 | ||||||
Naturgy Energy Group SA | 237 | 5,958 | ||||||
Red Electrica Corp. SA | 328 | 5,520 | ||||||
Repsol SA | 1,071 | 13,539 | ||||||
Telefonica SA | 3,692 | 15,801 | ||||||
|
| |||||||
(Cost $158,500) | 156,211 | |||||||
|
| |||||||
Sweden — 2.0% | ||||||||
Assa Abloy AB, Class B | 695 | 17,515 | ||||||
Atlas Copco AB, Class A | 477 | 27,376 | ||||||
Atlas Copco AB, Class B | 286 | 13,939 | ||||||
Boliden AB | 195 | 7,765 | ||||||
Electrolux AB, Series B | 140 | 3,324 | ||||||
Essity AB, Class B | 444 | 13,415 |
See Notes to Financial Statements. | 17 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Sweden (Continued) | ||||||||
Hennes & Mauritz AB, Class B* | 566 | $ | 13,409 | |||||
Husqvarna AB, Class B | 321 | 3,948 | ||||||
ICA Gruppen AB (b) | 60 | 2,864 | ||||||
Investment AB Latour, Class B | 116 | 2,656 | ||||||
Kinnevik AB, Class B* | 139 | 6,493 | ||||||
Sandvik AB* | 803 | 21,671 | ||||||
Skandinaviska Enskilda Banken AB, Class A* | 1,160 | 13,420 | ||||||
Skanska AB, Class B | 250 | 6,095 | ||||||
SKF AB, Class B | 253 | 6,930 | ||||||
Svenska Cellulosa AB SCA, Class B* | 420 | 7,262 | ||||||
Svenska Handelsbanken AB, Class A* | 1,080 | 11,445 | ||||||
Tele2 AB, Class B | 361 | 4,579 | ||||||
Telia Co. AB | 1,878 | 7,626 | ||||||
|
| |||||||
(Cost $132,938) | 191,732 | |||||||
|
| |||||||
Switzerland — 5.1% | ||||||||
ABB Ltd. | 1,329 | 38,345 | ||||||
Adecco Group AG | 120 | 7,566 | ||||||
Alcon, Inc.* | 352 | 24,317 | ||||||
Chocoladefabriken Lindt & Spruengli AG Participation Certificates | 1 | 8,423 | ||||||
Cie Financiere Richemont SA, Class A | 373 | 36,084 | ||||||
Clariant AG | 145 | 3,045 | ||||||
Coca-Cola HBC AG* | 147 | 4,599 | ||||||
Givaudan SA | 7 | 26,498 | ||||||
Kuehne + Nagel International AG | 41 | 9,769 | ||||||
Lonza Group AG | 53 | 33,593 | ||||||
Roche Holding AG | 499 | 164,229 | ||||||
SGS SA | 4 | 11,466 | ||||||
Sika AG | 101 | 26,798 | ||||||
Sonova Holding AG* | 41 | 10,543 | ||||||
Straumann Holding AG | 7 | 8,498 | ||||||
Swiss Re AG | 212 | 20,008 | ||||||
Swisscom AG | 19 | 9,581 | ||||||
Zurich Insurance Group AG | 108 | 44,319 | ||||||
|
| |||||||
(Cost $360,692) | 487,681 | |||||||
|
| |||||||
Taiwan — 6.6% | ||||||||
Accton Technology Corp. | 347 | 3,270 | ||||||
Acer, Inc. | 2,216 | 2,136 | ||||||
Advantech Co. Ltd. | 267 | 3,475 | ||||||
ASE Technology Holding Co. Ltd. | 2,612 | 9,706 | ||||||
AU Optronics Corp.* | 5,940 | 4,031 | ||||||
Catcher Technology Co. Ltd. | 471 | 3,247 | ||||||
Cathay Financial Holding Co. Ltd. | 4,995 | 7,523 | ||||||
Chailease Holding Co. Ltd. | 1,006 | 6,212 | ||||||
Cheng Shin Rubber Industry Co. Ltd. | 1,499 | 2,322 | ||||||
China Steel Corp. | 8,819 | 7,837 | ||||||
Chunghwa Telecom Co. Ltd. | 2,878 | 11,315 | ||||||
Compal Electronics, Inc. | 3,010 | 2,399 | ||||||
CTBC Financial Holding Co. Ltd. | 13,085 | 9,396 | ||||||
Delta Electronics, Inc. | 1,485 | 14,955 | ||||||
E.Sun Financial Holding Co. Ltd. | 8,161 | 7,399 | ||||||
Evergreen Marine Corp. Taiwan Ltd.* | 2,510 | 3,420 | ||||||
Far Eastern New Century Corp. | 2,498 | 2,596 | ||||||
Far EasTone Telecommunications Co. Ltd. | 1,268 | 2,814 | ||||||
First Financial Holding Co. Ltd. | 7,163 | 5,362 |
Number | Value | |||||||
Taiwan (Continued) | ||||||||
Fubon Financial Holding Co. Ltd. | 4,213 | $ | 7,548 | |||||
Hiwin Technologies Corp. | 170 | 2,435 | ||||||
Hotai Motor Co. Ltd. | 204 | 4,329 | ||||||
Hua Nan Financial Holdings Co. Ltd. | 6,500 | 4,236 | ||||||
Innolux Corp.* | 7,081 | 4,322 | ||||||
Inventec Corp. | 1,950 | 1,736 | ||||||
Lite-On Technology Corp. | 1,579 | 3,368 | ||||||
MediaTek, Inc. | 1,101 | 35,419 | ||||||
Micro-Star International Co. Ltd. | 456 | 2,439 | ||||||
Nan Ya Plastics Corp. | 3,413 | 8,909 | ||||||
President Chain Store Corp. | 448 | 4,214 | ||||||
Quanta Computer, Inc. | 1,910 | 5,829 | ||||||
SinoPac Financial Holdings Co. Ltd. | 6,388 | 2,672 | ||||||
Taishin Financial Holding Co. Ltd. | 7,598 | 3,533 | ||||||
Taiwan Business Bank | 3,489 | 1,186 | ||||||
Taiwan High Speed Rail Corp. | 1,537 | 1,664 | ||||||
Taiwan Mobile Co. Ltd. | 1,259 | 4,389 | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd. | 17,491 | 380,560 | ||||||
Uni-President Enterprises Corp. | 3,686 | 8,893 | ||||||
United Microelectronics Corp. | 7,051 | 13,721 | ||||||
Vanguard International Semiconductor Corp. | 639 | 2,661 | ||||||
Win Semiconductors Corp. | 218 | 2,978 | ||||||
Wistron Corp. | 2,104 | 2,417 | ||||||
Yageo Corp. | 194 | 4,130 | ||||||
Yuanta Financial Holding Co. Ltd. | 8,185 | 6,245 | ||||||
|
| |||||||
(Cost $294,450) | 629,248 | |||||||
|
| |||||||
Thailand — 0.8% | ||||||||
Advanced Info Service PCL, NVDR | 800 | 4,394 | ||||||
Airports of Thailand PCL, NVDR | 3,100 | 6,584 | ||||||
Bangkok Dusit Medical Services PCL, NVDR | 7,200 | 4,779 | ||||||
BTS Group Holdings PCL, NVDR | 4,000 | 1,248 | ||||||
Bumrungrad Hospital PCL, NVDR | 300 | 1,259 | ||||||
Central Pattana PCL, NVDR | 1,400 | 2,462 | ||||||
Charoen Pokphand Foods PCL, NVDR | 2,800 | 2,671 | ||||||
CP ALL PCL, NVDR | 4,400 | 8,688 | ||||||
Energy Absolute PCL, NVDR | 1,200 | 2,489 | ||||||
Gulf Energy Development PCL, NVDR | 2,200 | 2,427 | ||||||
Home Product Center PCL, NVDR | 4,800 | 2,118 | ||||||
Indorama Ventures PCL, NVDR | 1,400 | 1,835 | ||||||
Intouch Holdings PCL, NVDR | 1,600 | 2,960 | ||||||
Kasikornbank PCL, NVDR | 1,400 | 6,574 | ||||||
Land & Houses PCL, NVDR | 4,800 | 1,258 | ||||||
Minor International PCL, NVDR* | 1,673 | 1,679 | ||||||
Muangthai Capital PCL | 600 | 1,299 | ||||||
PTT Exploration & Production PCL, NVDR | 1,000 | 3,816 | ||||||
PTT Global Chemical PCL, NVDR | 1,700 | 3,540 | ||||||
Siam Cement PCL, NVDR | 600 | 7,287 | ||||||
Siam Commercial Bank PCL, NVDR | 700 | 2,393 | ||||||
Thai Oil PCL, NVDR | 500 | 983 | ||||||
True Corp. PCL, NVDR | 5,900 | 615 | ||||||
|
| |||||||
(Cost $80,300) | 73,358 | |||||||
|
| |||||||
Turkey — 0.0% | ||||||||
KOC Holding AS | 746 | 2,170 |
See Notes to Financial Statements. | 18 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Turkey (Continued) | ||||||||
Turkcell Iletisim Hizmetleri AS | 897 | $ | 1,917 | |||||
|
| |||||||
(Cost $3,785) | 4,087 | |||||||
|
| |||||||
United Arab Emirates — 0.3% | ||||||||
Abu Dhabi Commercial Bank PJSC | 2,038 | 3,484 | ||||||
Aldar Properties PJSC | 3,128 | 3,100 | ||||||
Dubai Islamic Bank PJSC | 1,453 | 1,879 | ||||||
Emirates NBD Bank PJSC | 1,790 | 5,458 | ||||||
Emirates Telecommunications Group Co. PJSC | 1,266 | 6,859 | ||||||
First Abu Dhabi Bank PJSC | 1,987 | 7,952 | ||||||
NMC Health PLC* (c) | 76 | 0 | ||||||
|
| |||||||
(Cost $29,286) | 28,732 | |||||||
|
| |||||||
United Kingdom — 7.1% | ||||||||
3i Group PLC | 653 | 10,107 | ||||||
Associated British Foods PLC* | 262 | 8,674 | ||||||
Aviva PLC | 2,667 | 13,494 | ||||||
Barratt Developments PLC* | 698 | 6,484 | ||||||
Berkeley Group Holdings PLC | 84 | 4,760 | ||||||
British Land Co. PLC REIT | 710 | 4,860 | ||||||
BT Group PLC* | 6,174 | 10,665 | ||||||
Burberry Group PLC* | 313 | 7,945 | ||||||
CNH Industrial NV* | 738 | 10,964 | ||||||
Coca-Cola European Partners PLC | 155 | 7,897 | ||||||
Compass Group PLC* | 1,269 | 25,814 | ||||||
Croda International PLC | 97 | 8,365 | ||||||
Ferguson PLC | 160 | 18,862 | ||||||
GlaxoSmithKline PLC | 3,570 | 59,435 | ||||||
Informa PLC* | 1,089 | 8,386 | ||||||
InterContinental Hotels Group PLC* | 132 | 9,231 | ||||||
J Sainsbury PLC | 1,332 | 4,212 | ||||||
JD Sports Fashion PLC* | 297 | 3,448 | ||||||
Johnson Matthey PLC | 140 | 5,980 | ||||||
Kingfisher PLC* | 1,399 | 5,191 | ||||||
Land Securities Group PLC REIT | 499 | 4,639 | ||||||
Legal & General Group PLC | 4,256 | 15,429 | ||||||
London Stock Exchange Group PLC | 231 | 31,062 | ||||||
Mondi PLC | 359 | 8,656 | ||||||
National Grid PLC | 2,556 | 28,817 | ||||||
Next PLC* | 94 | 9,936 | ||||||
Pearson PLC | 388 | 4,074 | ||||||
Prudential PLC | 1,871 | 36,844 | ||||||
Reckitt Benckiser Group PLC | 508 | 42,614 | ||||||
RELX PLC | 1,404 | 33,223 | ||||||
Rentokil Initial PLC* | 1,390 | 9,070 | ||||||
RSA Insurance Group PLC | 778 | 7,347 | ||||||
Sage Group PLC | 692 | 5,404 | ||||||
Schroders PLC | 70 | 3,428 | ||||||
Segro PLC REIT | 774 | 9,845 | ||||||
Smith & Nephew PLC | 632 | 12,242 | ||||||
Spirax-Sarco Engineering PLC | 52 | 7,786 | ||||||
SSE PLC | 726 | 13,444 | ||||||
Standard Chartered PLC* | 2,017 | 13,031 | ||||||
Standard Life Aberdeen PLC | 1,754 | 7,622 | ||||||
Taylor Wimpey PLC* | 2,688 | 5,923 | ||||||
Tesco PLC | 5,330 | 16,752 | ||||||
Unilever PLC | 1,852 | 96,658 |
Number | Value | |||||||
United Kingdom (Continued) | ||||||||
Whitbread PLC* | 156 | $ | 7,405 | |||||
Wm Morrison Supermarkets PLC | 1,741 | 4,159 | ||||||
WPP PLC | 924 | 11,030 | ||||||
|
| |||||||
(Cost $633,664) | 681,214 | |||||||
|
| |||||||
TOTAL COMMON STOCKS | 9,422,453 | |||||||
|
| |||||||
PREFERRED STOCKS — 0.8% | ||||||||
Brazil — 0.4% | ||||||||
Banco Bradesco SA | 3,152 | 13,008 | ||||||
Cia Energetica de Minas Gerais | 668 | 1,434 | ||||||
Itau Unibanco Holding SA | 3,274 | 15,010 | ||||||
Itausa SA | 3,246 | 5,795 | ||||||
|
| |||||||
(Cost $66,220) | 35,247 | |||||||
|
| |||||||
Chile — 0.1% | ||||||||
Embotelladora Andina SA, Class B | 379 | 1,026 | ||||||
Sociedad Quimica y Minera de Chile SA, Class B | 92 | 4,936 | ||||||
|
| |||||||
(Cost $5,661) | 5,962 | |||||||
|
| |||||||
Colombia — 0.0% | ||||||||
Bancolombia SA | 374 | 3,206 | ||||||
|
| |||||||
Germany — 0.3% | ||||||||
Bayerische Motoren Werke AG | 36 | 2,449 | ||||||
Henkel AG & Co. KGaA | 134 | 13,269 | ||||||
Sartorius AG | 25 | 12,909 | ||||||
|
| |||||||
(Cost $21,622) | 28,627 | |||||||
|
| |||||||
South Korea — 0.0% | ||||||||
AMOREPACIFIC Group* | 1 | 36 | ||||||
LG Chem Ltd. | 8 | 2,774 | ||||||
LG Household & Health Care Ltd. | 2 | 1,255 | ||||||
|
| |||||||
(Cost $2,583) | 4,065 | |||||||
|
| |||||||
TOTAL PREFERRED STOCKS | 77,107 | |||||||
|
| |||||||
WARRANTS — 0.0% | ||||||||
Switzerland — 0.0% | ||||||||
Cie Financiere Richemont SA*, expires 11/22/23 | 746 | 263 | ||||||
|
| |||||||
Thailand — 0.0% | ||||||||
Minor International PCL*, expires 9/30/21 (Cost $0) | 80 | 3 | ||||||
|
| |||||||
TOTAL WARRANTS | 266 | |||||||
|
| |||||||
EXCHANGE-TRADED FUNDS — 0.1% | ||||||||
Xtrackers MSCI EAFE ESG Leaders Equity ETF (d) | 200 | 5,835 | ||||||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (d) | 100 | 3,424 | ||||||
|
| |||||||
TOTAL EXCHANGE-TRADED FUNDS | 9,259 | |||||||
|
|
See Notes to Financial Statements. | 19 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
SECURITIES LENDING COLLATERAL — 0.1% | ||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (e)(f) | 7,948 | $ | 7,948 | |||||
|
| |||||||
CASH EQUIVALENTS — 0.1% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (e) | 10,386 | 10,386 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 99.6% (Cost $7,402,759) | $ | 9,527,419 | ||||||
Other assets and liabilities, net — 0.4% | 40,933 | |||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 9,568,352 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2021 is as follows:
Value ($) at 8/31/2020 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2021 | Value ($) at 2/28/2021 | ||||||||||||||||||||||||||||
EXCHANGE-TRADED FUNDS — 0.1% |
| |||||||||||||||||||||||||||||||||||
Xtrackers MSCI EAFE ESG Leaders Equity ETF (d) |
| |||||||||||||||||||||||||||||||||||
12,303 | 48,267 | (58,350 | ) | 4,888 | (1,273 | ) | 428 | — | 200 | 5,835 | ||||||||||||||||||||||||||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (d) |
| |||||||||||||||||||||||||||||||||||
5,738 | 21,893 | (25,222 | ) | 2,225 | (1,210 | ) | 111 | — | 100 | 3,424 | ||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 0.1% |
| |||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (e)(f) |
| |||||||||||||||||||||||||||||||||||
18,551 | — | (10,603 | ) (g) | — | — | 7 | — | 7,948 | 7,948 | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.1% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (e) |
| |||||||||||||||||||||||||||||||||||
6,027 | 183,182 | (178,823 | ) | — | — | 98 | — | 10,386 | 10,386 | |||||||||||||||||||||||||||
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42,619 | 253,342 | (272,998 | ) | 7,113 | (2,483 | ) | 644 | — | 18,634 | 27,593 | ||||||||||||||||||||||||||
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* | 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, 2021 amounted to $137,611, which is 1.4% of net assets. |
(c) | Investment was valued using significant unobservable inputs. |
(d) | Affiliated fund advised by DBX Advisors LLC. |
(e) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
(f) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund held non-cash U.S. Treasury securities collateral having a value of $141,143. |
(g) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2021. |
ADR: | American Depositary Receipt |
CPO: | Ordinary Participation Certificates |
GDR: | Global Depositary Receipt |
JSC: | Joint Stock Company |
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 |
See Notes to Financial Statements. | 20 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF (Continued)
February 28, 2021 (Unaudited)
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, 2021, open futures contracts purchased were as follows:
Contract Description | Currency | Number of Contracts | Notional Amount | Contract Value | Expiration Date | Unrealized Appreciation | ||||||||||||||||||
MSCI Emerging Markets Index Futures | USD | 1 | $ | 62,470 | $ | 66,905 | 3/19/2021 | $ | 4,435 |
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 |
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, 2021 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 (h) | $ | 9,421,589 | $ | — | $ | 864 | $ | 9,422,453 | ||||||||
Preferred Stocks (h) | 77,107 | — | — | 77,107 | ||||||||||||
Warrants (h) | 266 | — | — | 266 | ||||||||||||
Exchange-Traded Funds | 9,259 | — | — | 9,259 | ||||||||||||
Short-Term Investments (h) | 18,334 | — | — | 18,334 | ||||||||||||
Derivatives (i) | ||||||||||||||||
Futures Contracts | 4,435 | — | — | 4,435 | ||||||||||||
|
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| |||||||||
TOTAL | $ | 9,530,990 | $ | — | $ | 864 | $ | 9,531,854 | ||||||||
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(h) | See Schedule of Investments for additional detailed categorizations. |
(i) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
During the period ended February 28, 2021, the amount of transfers between Level 1 and Level 3 was $1,151. 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.
See Notes to Financial Statements. | 21 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI EAFE ESG Leaders Equity ETF
February 28, 2021 (Unaudited)
Number | Value | |||||||
COMMON STOCKS — 99.0% | ||||||||
Australia — 7.1% | ||||||||
APA Group (a) | 2,480 | $ | 17,837 | |||||
ASX Ltd. | 427 | 22,347 | ||||||
Aurizon Holdings Ltd. | 4,360 | 12,861 | ||||||
AusNet Services | 4,361 | 5,588 | ||||||
Australia & New Zealand Banking Group Ltd. | 6,130 | 124,199 | ||||||
BlueScope Steel Ltd. | 1,249 | 16,129 | ||||||
Brambles Ltd. | 3,410 | 26,136 | ||||||
Coca-Cola Amatil Ltd. | 1,052 | 10,906 | ||||||
Cochlear Ltd. | 139 | 22,751 | ||||||
Coles Group Ltd. | 2,859 | 33,932 | ||||||
Commonwealth Bank of Australia | 3,859 | 243,672 | ||||||
Computershare Ltd. | 1,024 | 10,520 | ||||||
Dexus REIT | 2,311 | 15,924 | ||||||
Evolution Mining Ltd. | 3,348 | 10,886 | ||||||
Fortescue Metals Group Ltd. | 3,755 | 70,091 | ||||||
Goodman Group REIT | 3,584 | 45,950 | ||||||
GPT Group REIT | 4,236 | 14,003 | ||||||
Insurance Australia Group Ltd. | 4,872 | 18,822 | ||||||
Lendlease Corp. Ltd. (a) | 1,419 | 14,611 | ||||||
Macquarie Group Ltd. | 739 | 81,518 | ||||||
Mirvac Group REIT | 8,569 | 14,794 | ||||||
National Australia Bank Ltd. | 7,137 | 136,147 | ||||||
Newcrest Mining Ltd. | 1,772 | 33,803 | ||||||
Northern Star Resources Ltd. | 2,383 | 18,837 | ||||||
Orica Ltd. | 790 | 7,682 | ||||||
Ramsay Health Care Ltd. | 385 | 19,672 | ||||||
SEEK Ltd. | 687 | 13,669 | ||||||
Stockland REIT | 4,988 | 16,103 | ||||||
Suncorp Group Ltd. | 2,808 | 21,609 | ||||||
Sydney Airport* (a) | 2,981 | 13,524 | ||||||
Telstra Corp. Ltd. | 8,847 | 21,096 | ||||||
Transurban Group (a) | 5,864 | 58,111 | ||||||
Vicinity Centres REIT | 6,614 | 8,398 | ||||||
Woodside Petroleum Ltd. | 2,046 | 38,919 | ||||||
|
| |||||||
(Cost $1,099,096) | 1,241,047 | |||||||
|
| |||||||
Austria — 0.3% | ||||||||
Erste Group Bank AG* | 607 | 20,107 | ||||||
OMV AG | 311 | 15,047 | ||||||
voestalpine AG | 227 | 9,048 | ||||||
|
| |||||||
(Cost $35,732) | 44,202 | |||||||
|
| |||||||
Belgium — 0.7% | ||||||||
Etablissements Franz Colruyt NV | 128 | 7,712 | ||||||
KBC Group NV* | 528 | 38,210 | ||||||
Solvay SA | 156 | 19,143 | ||||||
UCB SA | 272 | 27,218 | ||||||
Umicore SA | 438 | 25,870 | ||||||
|
| |||||||
(Cost $107,844) | 118,153 | |||||||
|
| |||||||
Denmark — 3.5% | ||||||||
Chr Hansen Holding A/S* | 228 | 19,680 | ||||||
Coloplast A/S, Class B | 255 | 39,077 | ||||||
Demant A/S* | 255 | 10,568 | ||||||
Genmab A/S* | 141 | 47,643 |
Number | Value | |||||||
Denmark (Continued) | ||||||||
GN Store Nord AS | 282 | $ | 23,844 | |||||
H Lundbeck A/S | 144 | 5,517 | ||||||
Novo Nordisk A/S, Class B | 3,689 | 263,717 | ||||||
Novozymes A/S, Class B* | 459 | 28,531 | ||||||
Orsted AS, 144A | 418 | 68,094 | ||||||
Pandora A/S | 222 | 21,728 | ||||||
Tryg A/S | 274 | 8,677 | ||||||
Vestas Wind Systems A/S | 425 | 80,092 | ||||||
|
| |||||||
(Cost $461,739) | 617,168 | |||||||
|
| |||||||
Finland — 1.0% | ||||||||
Elisa OYJ | 314 | 18,809 | ||||||
Kesko OYJ, Class B | 527 | 13,459 | ||||||
Neste OYJ | 909 | 60,088 | ||||||
Orion OYJ, Class B | 215 | 8,865 | ||||||
Stora Enso OYJ, Class R | 1,286 | 25,482 | ||||||
UPM-Kymmene OYJ | 1,131 | 43,381 | ||||||
Wartsila OYJ Abp | 941 | 10,853 | ||||||
|
| |||||||
(Cost $150,200) | 180,937 | |||||||
|
| |||||||
France — 10.1% | ||||||||
Accor SA* | 368 | 15,437 | ||||||
Air Liquide SA (b) | 1,023 | 154,842 | ||||||
Amundi SA, 144A* | 136 | 10,400 | ||||||
Atos SE* | 227 | 17,805 | ||||||
AXA SA | 4,161 | 105,053 | ||||||
Bouygues SA | 510 | 20,775 | ||||||
Carrefour SA | 1,331 | 23,337 | ||||||
Cie de Saint-Gobain* | 1,127 | 60,764 | ||||||
Cie Generale des Etablissements Michelin SCA | 376 | 54,653 | ||||||
CNP Assurances* | 379 | 6,859 | ||||||
Covivio REIT | 94 | 7,947 | ||||||
Credit Agricole SA* | 2,603 | 36,698 | ||||||
Danone SA | 1,330 | 91,146 | ||||||
Dassault Systemes SE | 283 | 59,049 | ||||||
Eiffage SA* | 177 | 18,296 | ||||||
EssilorLuxottica SA | 616 | 100,940 | ||||||
Eurazeo SE* | 72 | 5,362 | ||||||
Gecina SA REIT | 89 | 12,391 | ||||||
Getlink SE* | 904 | 14,890 | ||||||
Kering SA | 166 | 105,763 | ||||||
Klepierre SA REIT (b) | 425 | 10,085 | ||||||
L’Oreal SA | 546 | 200,676 | ||||||
Natixis SA* | 2,008 | 9,837 | ||||||
Orange SA | 4,303 | 49,869 | ||||||
Publicis Groupe SA | 486 | 28,634 | ||||||
Schneider Electric SE | 1,156 | 172,377 | ||||||
SEB SA | 49 | 8,844 | ||||||
Teleperformance | 130 | 46,249 | ||||||
TOTAL SE (b) | 5,426 | 252,741 | ||||||
Ubisoft Entertainment SA* | 199 | 16,324 | ||||||
Unibail-Rodamco-Westfield REIT | 299 | 22,073 | ||||||
Valeo SA | 517 | 18,349 | ||||||
Wendel SE | 58 | 6,667 | ||||||
|
| |||||||
(Cost $1,592,844) | 1,765,132 | |||||||
|
|
See Notes to Financial Statements. | 22 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI EAFE ESG Leaders Equity ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Germany — 8.9% | ||||||||
adidas AG* | 417 | $ | 146,228 | |||||
Allianz SE | 899 | 218,023 | ||||||
BASF SE | 1,992 | 163,764 | ||||||
Bayerische Motoren Werke AG | 733 | 63,615 | ||||||
Beiersdorf AG | 214 | 21,274 | ||||||
Commerzbank AG* | 2,223 | 14,652 | ||||||
Delivery Hero SE, 144A* | 283 | 36,308 | ||||||
Deutsche Boerse AG | 407 | 66,964 | ||||||
Deutsche Wohnen SE | 739 | 34,938 | ||||||
HeidelbergCement AG | 316 | 25,115 | ||||||
Henkel AG & Co. KGaA | 219 | 19,511 | ||||||
Merck KGaA | 286 | 46,709 | ||||||
MTU Aero Engines AG | 115 | 27,499 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 304 | 89,666 | ||||||
SAP SE | 2,274 | 281,704 | ||||||
Siemens AG | 1,644 | 255,383 | ||||||
Symrise AG | 273 | 32,050 | ||||||
Telefonica Deutschland Holding AG | 2,312 | 6,202 | ||||||
|
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(Cost $1,382,646) | 1,549,605 | |||||||
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Hong Kong — 1.8% | ||||||||
ASM Pacific Technology Ltd. | 540 | 7,511 | ||||||
BOC Hong Kong Holdings Ltd. | 8,054 | 26,787 | ||||||
Hang Seng Bank Ltd. | 1,659 | 32,079 | ||||||
HKT Trust & HKT Ltd. (a) | 7,739 | 10,515 | ||||||
Hong Kong & China Gas Co. Ltd. | 22,368 | 33,736 | ||||||
Hong Kong Exchanges & Clearing Ltd. | 2,623 | 160,004 | ||||||
MTR Corp. Ltd. | 3,789 | 22,737 | ||||||
PCCW Ltd. | 8,041 | 4,613 | ||||||
Swire Pacific Ltd., Class A | 1,081 | 7,922 | ||||||
Swire Properties Ltd. | 2,436 | 7,835 | ||||||
|
| |||||||
(Cost $258,317) | 313,739 | |||||||
|
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Ireland — 0.9% | ||||||||
CRH PLC | 1,691 | 73,481 | ||||||
DCC PLC | 215 | 17,344 | ||||||
Kerry Group PLC, Class A | 344 | 41,734 | ||||||
Kingspan Group PLC* | 341 | 24,938 | ||||||
|
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(Cost $138,380) | 157,497 | |||||||
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Israel — 0.2% | ||||||||
Bank Hapoalim BM* | 2,198 | 15,592 | ||||||
Bank Leumi Le-Israel BM | 2,858 | 17,471 | ||||||
Mizrahi Tefahot Bank Ltd. | 306 | 7,331 | ||||||
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| |||||||
(Cost $39,240) | 40,394 | |||||||
|
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Italy — 1.7% | ||||||||
Assicurazioni Generali SpA | 2,226 | 42,015 | ||||||
Enel SpA | 17,757 | 169,065 | ||||||
Intesa Sanpaolo SpA* | 35,629 | 92,288 | ||||||
|
| |||||||
(Cost $269,149) | 303,368 | |||||||
|
| |||||||
Japan — 27.1% | ||||||||
Aeon Co. Ltd. | 1,400 | 42,089 | ||||||
Ajinomoto Co., Inc. | 1,100 | 21,878 | ||||||
ANA Holdings, Inc.* | 300 | 7,192 | ||||||
Asahi Kasei Corp. | 2,700 | 29,043 |
Number | Value | |||||||
Japan (Continued) | ||||||||
Astellas Pharma, Inc. | 4,000 | $ | 62,850 | |||||
Bridgestone Corp. | 1,200 | 46,867 | ||||||
Capcom Co. Ltd. | 200 | 12,164 | ||||||
Casio Computer Co. Ltd. | 400 | 7,704 | ||||||
Central Japan Railway Co. | 310 | 50,658 | ||||||
Chugai Pharmaceutical Co. Ltd. | 1,398 | 62,499 | ||||||
CyberAgent, Inc. | 228 | 13,739 | ||||||
Dai Nippon Printing Co. Ltd. | 565 | 10,150 | ||||||
Daifuku Co. Ltd. | 166 | 15,861 | ||||||
Dai-ichi Life Holdings, Inc. | 2,400 | 42,103 | ||||||
Daiichi Sankyo Co. Ltd. | 3,700 | 104,534 | ||||||
Daikin Industries Ltd. | 554 | 107,742 | ||||||
Daiwa House Industry Co. Ltd. | 1,200 | 33,824 | ||||||
Denso Corp. | 960 | 57,560 | ||||||
East Japan Railway Co. | 679 | 50,074 | ||||||
Eisai Co. Ltd. | 558 | 38,333 | ||||||
ENEOS Holdings, Inc. | 6,800 | 29,851 | ||||||
Fast Retailing Co. Ltd. | 128 | 126,150 | ||||||
Fujitsu Ltd. | 459 | 66,175 | ||||||
Hankyu Hanshin Holdings, Inc. | 500 | 16,590 | ||||||
Hino Motors Ltd. | 700 | 6,570 | ||||||
Hirose Electric Co. Ltd. | 40 | 5,834 | ||||||
Hitachi Construction Machinery Co. Ltd. | 200 | 6,148 | ||||||
Hitachi Metals Ltd. | 600 | 9,512 | ||||||
Honda Motor Co. Ltd. | 3,500 | 95,647 | ||||||
Hulic Co. Ltd. | 800 | 8,921 | ||||||
Inpex Corp. | 2,300 | 16,925 | ||||||
Isuzu Motors Ltd. | 1,200 | 12,547 | ||||||
Japan Retail Fund Investment Corp. REIT (b) | 13 | 12,849 | ||||||
JFE Holdings, Inc.* | 1,100 | 11,543 | ||||||
Kajima Corp. | 1,100 | 14,021 | ||||||
Kansai Paint Co. Ltd. | 300 | 7,834 | ||||||
Kao Corp. | 1,084 | 72,687 | ||||||
KDDI Corp. | 3,500 | 108,081 | ||||||
Keio Corp. | 239 | 17,834 | ||||||
Keyence Corp. | 394 | 186,978 | ||||||
Kikkoman Corp. | 300 | 19,795 | ||||||
Kobayashi Pharmaceutical Co. Ltd. | 80 | 7,554 | ||||||
Kobe Bussan Co. Ltd. | 200 | 5,134 | ||||||
Komatsu Ltd. | 1,800 | 53,895 | ||||||
Konami Holdings Corp. | 200 | 12,821 | ||||||
Kubota Corp. | 2,300 | 51,973 | ||||||
Kuraray Co. Ltd. | 700 | 7,832 | ||||||
Kurita Water Industries Ltd. | 200 | 8,091 | ||||||
Kyushu Railway Co. | 230 | 5,984 | ||||||
Lawson, Inc. | 100 | 4,670 | ||||||
Marubeni Corp. | 3,600 | 26,752 | ||||||
Marui Group Co. Ltd. | 400 | 7,588 | ||||||
Mazda Motor Corp. | 1,300 | 10,237 | ||||||
Mercari, Inc.* | 150 | 7,209 | ||||||
Mitsubishi Chemical Holdings Corp. | 2,600 | 18,054 | ||||||
Mitsubishi Estate Co. Ltd. | 2,500 | 43,129 | ||||||
Mitsubishi UFJ Lease & Finance Co. Ltd. | 1,000 | 5,360 | ||||||
Mitsui Chemicals, Inc. | 300 | 9,236 | ||||||
Mitsui Fudosan Co. Ltd. | 2,000 | 45,054 | ||||||
Miura Co. Ltd. | 200 | 10,344 |
See Notes to Financial Statements. | 23 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI EAFE ESG Leaders Equity ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Japan (Continued) | ||||||||
Mizuho Financial Group, Inc. | 5,190 | $ | 75,945 | |||||
MS&AD Insurance Group Holdings, Inc. | 1,000 | 28,158 | ||||||
Murata Manufacturing Co. Ltd. | 1,250 | 106,544 | ||||||
Nabtesco Corp. | 250 | 10,606 | ||||||
Nagoya Railroad Co. Ltd. | 300 | 7,614 | ||||||
NEC Corp. | 600 | 32,664 | ||||||
NGK Insulators Ltd. | 600 | 10,588 | ||||||
NGK Spark Plug Co. Ltd. | 200 | 3,383 | ||||||
Nintendo Co. Ltd. | 239 | 145,253 | ||||||
Nippon Building Fund, Inc. REIT | 3 | 18,331 | ||||||
Nippon Express Co. Ltd. | 100 | 7,434 | ||||||
Nippon Paint Holdings Co. Ltd. | 350 | 26,018 | ||||||
Nippon Prologis REIT, Inc. REIT | 4 | 12,240 | ||||||
Nippon Shinyaku Co. Ltd. | 50 | 3,393 | ||||||
Nippon Yusen KK | 300 | 8,602 | ||||||
Nissin Foods Holdings Co. Ltd. | 100 | 7,556 | ||||||
Nitori Holdings Co. Ltd. | 144 | 26,863 | ||||||
Nitto Denko Corp. | 350 | 29,862 | ||||||
Nomura Real Estate Holdings, Inc. | 200 | 4,503 | ||||||
Nomura Real Estate Master Fund, Inc. REIT | 11 | 16,468 | ||||||
Nomura Research Institute Ltd. | 700 | 21,748 | ||||||
NSK Ltd. | 800 | 7,832 | ||||||
Obayashi Corp. | 1,300 | 11,140 | ||||||
Odakyu Electric Railway Co. Ltd. | 700 | 20,466 | ||||||
Omron Corp. | 413 | 33,260 | ||||||
Ono Pharmaceutical Co. Ltd. | 800 | 21,506 | ||||||
Oriental Land Co. Ltd. | 465 | 77,864 | ||||||
ORIX Corp. | 2,800 | 47,346 | ||||||
Osaka Gas Co. Ltd. | 900 | 16,101 | ||||||
Otsuka Corp. | 250 | 11,615 | ||||||
Panasonic Corp. | 4,900 | 62,802 | ||||||
Rakuten, Inc. | 1,800 | 20,122 | ||||||
Recruit Holdings Co. Ltd. | 2,900 | 143,748 | ||||||
Resona Holdings, Inc. | 4,600 | 18,467 | ||||||
Rohm Co. Ltd. | 150 | 14,741 | ||||||
Santen Pharmaceutical Co. Ltd. | 900 | 12,350 | ||||||
SCSK Corp. | 100 | 5,885 | ||||||
Secom Co. Ltd. | 440 | 38,103 | ||||||
Sega Sammy Holdings, Inc. | 300 | 5,038 | ||||||
Sekisui Chemical Co. Ltd. | 900 | 16,008 | ||||||
Sekisui House Ltd. | 1,300 | 24,367 | ||||||
Seven & i Holdings Co. Ltd. | 1,600 | 60,627 | ||||||
SG Holdings Co. Ltd. | 700 | 16,084 | ||||||
Sharp Corp. | 500 | 9,447 | ||||||
Shimadzu Corp. | 440 | 15,818 | ||||||
Shimizu Corp. | 1,200 | 9,067 | ||||||
Shin-Etsu Chemical Co. Ltd. | 793 | 129,140 | ||||||
Shionogi & Co. Ltd. | 600 | 30,484 | ||||||
Shiseido Co. Ltd. | 850 | 63,132 | ||||||
SoftBank Corp. | 6,000 | 81,153 | ||||||
Sohgo Security Services Co. Ltd. | 100 | 4,505 | ||||||
Sompo Holdings, Inc. | 740 | 28,339 | ||||||
Sony Corp. | 2,705 | 282,332 | ||||||
Stanley Electric Co. Ltd. | 200 | 5,923 | ||||||
Sumitomo Chemical Co. Ltd. | 3,300 | 15,952 | ||||||
Sumitomo Metal Mining Co. Ltd. | 453 | 21,863 |
Number | Value | |||||||
Japan (Continued) | ||||||||
Sumitomo Mitsui Trust Holdings, Inc. | 700 | $ | 23,009 | |||||
Suntory Beverage & Food Ltd. | 300 | 10,264 | ||||||
Sysmex Corp. | 350 | 36,416 | ||||||
T&D Holdings, Inc. | 1,200 | 16,174 | ||||||
Taisei Corp. | 374 | 13,182 | ||||||
Takeda Pharmaceutical Co. Ltd. | 3,450 | 115,993 | ||||||
TDK Corp. | 275 | 39,337 | ||||||
Teijin Ltd. | 400 | 6,871 | ||||||
Tobu Railway Co. Ltd. | 400 | 11,376 | ||||||
Toho Gas Co. Ltd. | 200 | 11,751 | ||||||
Tokyo Century Corp. | 100 | 6,514 | ||||||
Tokyo Electron Ltd. | 323 | 132,032 | ||||||
Tokyo Gas Co. Ltd. | 900 | 18,601 | ||||||
Tokyu Corp. | 1,100 | 15,115 | ||||||
Toppan Printing Co. Ltd. | 500 | 7,847 | ||||||
Toray Industries, Inc. | 3,300 | 21,577 | ||||||
TOTO Ltd. | 300 | 18,050 | ||||||
Toyo Suisan Kaisha Ltd. | 150 | 6,392 | ||||||
Toyoda Gosei Co. Ltd. | 100 | 2,592 | ||||||
Toyota Tsusho Corp. | 400 | 16,745 | ||||||
Unicharm Corp. | 900 | 35,615 | ||||||
USS Co. Ltd. | 600 | 11,399 | ||||||
West Japan Railway Co. | 350 | 21,399 | ||||||
Yakult Honsha Co. Ltd. | 280 | 13,850 | ||||||
Yamada Holdings Co. Ltd. | 1,300 | 6,211 | ||||||
Yamaha Corp. | 319 | 17,755 | ||||||
Yamaha Motor Co. Ltd. | 700 | 15,237 | ||||||
Yaskawa Electric Corp. | 501 | 25,017 | ||||||
Yokogawa Electric Corp. | 500 | 9,461 | ||||||
Z Holdings Corp. | 5,900 | 35,913 | ||||||
ZOZO, Inc. | 200 | 6,251 | ||||||
|
| |||||||
(Cost $3,988,310) | 4,724,619 | |||||||
|
| |||||||
Jordan — 0.1% | ||||||||
Hikma Pharmaceuticals PLC | 388 | 12,129 | ||||||
|
| |||||||
Luxembourg — 0.1% | ||||||||
SES SA | 762 | 6,119 | ||||||
Tenaris SA | 1,048 | 10,998 | ||||||
|
| |||||||
(Cost $23,682) | 17,117 | |||||||
|
| |||||||
Netherlands — 6.5% | ||||||||
Aegon NV | 3,937 | 18,905 | ||||||
Akzo Nobel NV | 411 | 42,683 | ||||||
ASML Holding NV | 919 | 519,090 | ||||||
ING Groep NV | 8,365 | 91,777 | ||||||
JDE Peet’s NV* | 157 | 6,413 | ||||||
Koninklijke Ahold Delhaize NV | 2,393 | 63,437 | ||||||
Koninklijke DSM NV | 360 | 59,668 | ||||||
Koninklijke KPN NV | 7,547 | 24,807 | ||||||
Koninklijke Philips NV* | 1,965 | 107,223 | ||||||
Koninklijke Vopak NV | 143 | 6,858 | ||||||
NN Group NV | 629 | 29,165 | ||||||
Prosus NV* | 1,034 | 123,072 | ||||||
Wolters Kluwer NV | 583 | 46,478 | ||||||
|
| |||||||
(Cost $791,963) | 1,139,576 | |||||||
|
|
See Notes to Financial Statements. | 24 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI EAFE ESG Leaders Equity ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
New Zealand — 0.5% | ||||||||
Auckland International Airport Ltd.* | 2,678 | $ | 14,701 | |||||
Fisher & Paykel Healthcare Corp. Ltd. | 1,260 | 26,797 | ||||||
Mercury NZ Ltd. | 1,617 | 7,113 | ||||||
Meridian Energy Ltd. | 2,640 | 10,942 | ||||||
Ryman Healthcare Ltd. | 810 | 8,628 | ||||||
Spark New Zealand Ltd. | 4,449 | 14,848 | ||||||
|
| |||||||
(Cost $72,650) | 83,029 | |||||||
|
| |||||||
Norway — 0.5% | ||||||||
Mowi ASA | 921 | 22,394 | ||||||
Norsk Hydro ASA | 2,694 | 15,015 | ||||||
Orkla ASA | 1,726 | 16,005 | ||||||
Schibsted ASA, Class B* | 202 | 6,985 | ||||||
Telenor ASA | 1,598 | 26,006 | ||||||
|
| |||||||
(Cost $81,914) | 86,405 | |||||||
|
| |||||||
Portugal — 0.1% | ||||||||
Galp Energia SGPS SA | 1,052 | 11,855 | ||||||
Jeronimo Martins SGPS SA | 540 | 8,422 | ||||||
|
| |||||||
(Cost $25,060) | 20,277 | |||||||
|
| |||||||
Singapore — 1.4% | ||||||||
Ascendas Real Estate Investment Trust REIT | 6,915 | 15,289 | ||||||
CapitaLand Integrated Commercial Trust REIT | 9,684 | 15,294 | ||||||
CapitaLand Ltd. | 5,700 | 13,632 | ||||||
City Developments Ltd. | 1,100 | 6,089 | ||||||
DBS Group Holdings Ltd. | 3,824 | 76,612 | ||||||
Keppel Corp. Ltd. | 3,300 | 12,607 | ||||||
Singapore Airlines Ltd.* | 3,150 | 11,797 | ||||||
Singapore Exchange Ltd. | 1,900 | 14,275 | ||||||
Singapore Telecommunications Ltd. | 17,600 | 31,105 | ||||||
United Overseas Bank Ltd. | 2,600 | 48,258 | ||||||
UOL Group Ltd. | 1,100 | 6,113 | ||||||
|
| |||||||
(Cost $234,046) | 251,071 | |||||||
|
| |||||||
Spain — 2.7% | ||||||||
Banco Bilbao Vizcaya Argentaria SA | 14,389 | 80,393 | ||||||
CaixaBank SA | 7,279 | 21,267 | ||||||
Iberdrola SA | 13,102 | 165,791 | ||||||
Industria de Diseno Textil SA | 2,392 | 79,292 | ||||||
Naturgy Energy Group SA | 631 | 15,862 | ||||||
Red Electrica Corp. SA | 805 | 13,548 | ||||||
Repsol SA | 3,335 | 42,160 | ||||||
Telefonica SA | 10,988 | 47,027 | ||||||
|
| |||||||
(Cost $447,347) | 465,340 | |||||||
|
| |||||||
Sweden — 3.4% | ||||||||
Assa Abloy AB, Class B | 2,075 | 52,294 | ||||||
Atlas Copco AB, Class A | 1,434 | 82,301 | ||||||
Atlas Copco AB, Class B | 902 | 43,961 | ||||||
Boliden AB | 597 | 23,773 | ||||||
Electrolux AB, Series B | 523 | 12,418 | ||||||
Essity AB, Class B | 1,318 | 39,822 | ||||||
Hennes & Mauritz AB, Class B* | 1,699 | 40,250 | ||||||
Husqvarna AB, Class B | 888 | 10,920 | ||||||
ICA Gruppen AB (b) | 223 | 10,643 |
Number | Value | |||||||
Sweden (Continued) | ||||||||
Investment AB Latour, Class B | 314 | $ | 7,188 | |||||
Kinnevik AB, Class B* | 509 | 23,777 | ||||||
Sandvik AB* | 2,409 | 65,014 | ||||||
Skandinaviska Enskilda Banken AB, Class A* | 3,499 | 40,480 | ||||||
Skanska AB, Class B | 715 | 17,432 | ||||||
SKF AB, Class B | 811 | 22,215 | ||||||
Svenska Cellulosa AB SCA, Class B* | 1,249 | 21,597 | ||||||
Svenska Handelsbanken AB, Class A* | 3,376 | 35,777 | ||||||
Tele2 AB, Class B | 1,067 | 13,534 | ||||||
Telia Co. AB | 5,564 | 22,594 | ||||||
|
| |||||||
(Cost $455,982) | 585,990 | |||||||
|
| |||||||
Switzerland — 8.5% | ||||||||
ABB Ltd. | 3,982 | 114,890 | ||||||
Adecco Group AG | 345 | 21,752 | ||||||
Alcon, Inc.* | 1,057 | 73,020 | ||||||
Chocoladefabriken Lindt & Spruengli AG Participation Certificates | 5 | 42,113 | ||||||
Cie Financiere Richemont SA, Class A | 1,130 | 109,318 | ||||||
Clariant AG | 415 | 8,714 | ||||||
Coca-Cola HBC AG* | 438 | 13,705 | ||||||
Givaudan SA | 19 | 71,924 | ||||||
Kuehne + Nagel International AG | 120 | 28,592 | ||||||
Lonza Group AG | 162 | 102,679 | ||||||
Roche Holding AG | 1,521 | 500,588 | ||||||
SGS SA | 13 | 37,264 | ||||||
Sika AG | 306 | 81,190 | ||||||
Sonova Holding AG* | 118 | 30,344 | ||||||
Straumann Holding AG | 23 | 27,921 | ||||||
Swiss Re AG | 606 | 57,193 | ||||||
Swisscom AG | 57 | 28,742 | ||||||
Zurich Insurance Group AG | 329 | 135,009 | ||||||
|
| |||||||
(Cost $1,247,788) | 1,484,958 | |||||||
|
| |||||||
United Arab Emirates — 0.0% | ||||||||
NMC Health PLC* (c) | 144 | 0 | ||||||
|
| |||||||
United Kingdom — 11.9% | ||||||||
3i Group PLC | 2,057 | 31,836 | ||||||
Associated British Foods PLC* | 751 | 24,863 | ||||||
Aviva PLC | 8,429 | 42,648 | ||||||
Barratt Developments PLC* | 2,146 | 19,934 | ||||||
Berkeley Group Holdings PLC | 273 | 15,469 | ||||||
British Land Co. PLC REIT | 1,955 | 13,382 | ||||||
BT Group PLC* | 19,212 | 33,186 | ||||||
Burberry Group PLC* | 857 | 21,753 | ||||||
CNH Industrial NV* | 2,329 | 34,602 | ||||||
Coca-Cola European Partners PLC | 449 | 22,876 | ||||||
Compass Group PLC* | 3,872 | 78,766 | ||||||
Croda International PLC | 318 | 27,423 | ||||||
Ferguson PLC | 486 | 57,293 | ||||||
GlaxoSmithKline PLC | 10,833 | 180,354 | ||||||
Informa PLC* | 3,219 | 24,789 | ||||||
InterContinental Hotels Group PLC* | 386 | 26,994 | ||||||
J Sainsbury PLC | 3,641 | 11,515 | ||||||
JD Sports Fashion PLC* | 993 | 11,529 |
See Notes to Financial Statements. | 25 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI EAFE ESG Leaders Equity ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
United Kingdom (Continued) | ||||||||
Johnson Matthey PLC | 438 | $ | 18,708 | |||||
Kingfisher PLC* | 4,702 | 17,447 | ||||||
Land Securities Group PLC REIT | 1,320 | 12,272 | ||||||
Legal & General Group PLC | 12,995 | 47,110 | ||||||
London Stock Exchange Group PLC | 686 | 92,246 | ||||||
Mondi PLC | 1,037 | 25,002 | ||||||
National Grid PLC | 7,549 | 85,110 | ||||||
Next PLC* | 284 | 30,018 | ||||||
Pearson PLC | 1,624 | 17,052 | ||||||
Prudential PLC | 5,707 | 112,384 | ||||||
Reckitt Benckiser Group PLC | 1,556 | 130,527 | ||||||
RELX PLC | 4,117 | 97,420 | ||||||
Rentokil Initial PLC* | 3,997 | 26,080 | ||||||
RSA Insurance Group PLC | 2,248 | 21,227 | ||||||
Sage Group PLC | 2,357 | 18,408 | ||||||
Schroders PLC | 261 | 12,783 | ||||||
Segro PLC REIT | 2,646 | 33,657 | ||||||
Smith & Nephew PLC | 1,861 | 36,049 | ||||||
Spirax-Sarco Engineering PLC | 167 | 25,006 | ||||||
SSE PLC | 2,235 | 41,387 | ||||||
Standard Chartered PLC* | 5,944 | 38,402 | ||||||
Standard Life Aberdeen PLC | 4,920 | 21,379 | ||||||
Taylor Wimpey PLC* | 8,050 | 17,737 | ||||||
Tesco PLC | 17,447 | 54,835 | ||||||
Unilever PLC | 5,661 | 295,454 | ||||||
Whitbread PLC* | 429 | 20,363 | ||||||
Wm Morrison Supermarkets PLC | 4,870 | 11,633 | ||||||
WPP PLC | 2,693 | 32,146 | ||||||
|
| |||||||
(Cost $2,019,339) | 2,071,054 | |||||||
|
| |||||||
TOTAL COMMON STOCKS | 17,272,807 | |||||||
|
|
Number | Value | |||||||
PREFERRED STOCKS — 0.5% |
| |||||||
Germany — 0.5% | ||||||||
Bayerische Motoren Werke AG | 97 | $ | 6,599 | |||||
Henkel AG & Co. KGaA | 393 | 38,916 | ||||||
Sartorius AG | 80 | 41,308 | ||||||
|
| |||||||
(Cost $71,909) | 86,823 | |||||||
|
| |||||||
TOTAL PREFERRED STOCKS | 86,823 | |||||||
|
| |||||||
WARRANTS — 0.0% |
| |||||||
Switzerland — 0.0% | ||||||||
Cie Financiere Richemont SA*, | 1,880 | 665 | ||||||
|
| |||||||
EXCHANGE-TRADED FUNDS — 0.1% | ||||||||
iShares Trust iShares ESG Aware MSCI EAFE ETF (b) | 300 | 22,206 | ||||||
|
| |||||||
SECURITIES LENDING COLLATERAL — 0.5% | ||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (d)(e) | 80,946 | 80,946 | ||||||
|
| |||||||
CASH EQUIVALENTS — 0.0% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (d) | 213 | 213 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 100.1% (Cost $15,113,473) | $ | 17,463,660 | ||||||
Other assets and liabilities, net — (0.1%) | (17,494 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 17,446,166 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2021 is as follows:
Value ($) at 8/31/2020 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2021 | Value ($) at 2/28/2021 | ||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 0.5% |
| |||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (d)(e) |
| |||||||||||||||||||||||||||||||||||
55,300 | 25,646 | (f) | — | — | — | 12 | — | 80,946 | 80,946 | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.0% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (d) |
| |||||||||||||||||||||||||||||||||||
143 | 204,650 | (204,580 | ) | — | — | — | — | 213 | 213 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
55,443 | 230,296 | (204,580 | ) | — | — | 12 | — | 81,159 | 81,159 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* | 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, 2021 amounted to $419,704, which is 2.4% of net assets. |
(c) | Investment was valued using significant unobservable inputs. |
(d) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
See Notes to Financial Statements. | 26 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI EAFE ESG Leaders Equity ETF (Continued)
February 28, 2021 (Unaudited)
(e) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund held non-cash U.S. Treasury securities collateral having a value of $371,708. |
(f) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2021. |
REIT: | Real Estate Investment Trust |
144A: | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
Securities are listed in country of domicile.
At February 28, 2021, open futures contracts purchased were as follows:
Contract Description | Currency | Number of Contracts | Notional Amount | Contract Value | Expiration Date | Unrealized Appreciation | ||||||||||||
EURO STOXX 50 Futures | EUR | 1 | $ | 44,012 | $ | 44,024 | 3/19/2021 | $ | 12 | |||||||||
MINI TOPIX Index Futures | JPY | 1 | 16,535 | 17,604 | 3/11/2021 | 1,069 | ||||||||||||
|
| |||||||||||||||||
Total unrealized appreciation | $ | 1,081 | ||||||||||||||||
|
|
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, 2021 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) | $ | 17,272,807 | $ | — | $ | 0 | $ | 17,272,807 | ||||||||
Preferred Stocks | 86,823 | — | — | 86,823 | ||||||||||||
Warrants | 665 | — | — | 665 | ||||||||||||
Exchange-Traded Funds | 22,206 | — | — | 22,206 | ||||||||||||
Short-Term Investments (g) | 81,159 | — | — | 81,159 | ||||||||||||
Derivatives (h) | ||||||||||||||||
Futures Contracts | 1,081 | — | — | 1,081 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 17,464,741 | $ | — | $ | 0 | $ | 17,464,741 | ||||||||
|
|
|
|
|
|
|
|
(g) | See Schedule of Investments for additional detailed categorizations. |
(h) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
See Notes to Financial Statements. | 27 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF
Number | Value | |||||||
COMMON STOCKS — 97.2% | ||||||||
Argentina — 0.2% | ||||||||
Globant SA* | 121 | $ | 25,981 | |||||
|
| |||||||
Brazil — 2.1% | ||||||||
Atacadao SA | 978 | 3,336 | ||||||
B2W Cia Digital* | 715 | 10,520 | ||||||
B3 SA — Brasil Bolsa Balcao | 6,546 | 63,780 | ||||||
Banco do Brasil SA | 2,439 | 12,276 | ||||||
Banco Santander Brasil SA | 1,141 | 7,655 | ||||||
Cosan SA | 386 | 5,638 | ||||||
CPFL Energia SA | 546 | 2,828 | ||||||
Energisa SA | 424 | 3,322 | ||||||
Equatorial Energia SA | 3,207 | 11,567 | ||||||
Klabin SA* | 2,232 | 11,803 | ||||||
Localiza Rent a Car SA | 1,953 | 20,325 | ||||||
Lojas Renner SA | 2,311 | 15,202 | ||||||
Natura & Co. Holding SA* | 2,826 | 23,412 | ||||||
Notre Dame Intermedica Participacoes SA | 1,672 | 26,017 | ||||||
Telefonica Brasil SA | 1,441 | 11,377 | ||||||
TIM SA | 1,887 | 4,334 | ||||||
Ultrapar Participacoes SA* | 2,334 | 8,091 | ||||||
Via Varejo S/A* | 4,067 | 8,662 | ||||||
WEG SA | 2,586 | 36,217 | ||||||
|
| |||||||
(Cost $291,908) | 286,362 | |||||||
|
| |||||||
Chile — 0.4% | ||||||||
Cencosud Shopping SA | 1,212 | 2,397 | ||||||
Empresas CMPC SA | 3,492 | 10,190 | ||||||
Empresas COPEC SA | 1,314 | 14,828 | ||||||
Enel Americas SA | 104,345 | 15,893 | ||||||
Falabella SA | 2,539 | 10,529 | ||||||
|
| |||||||
(Cost $61,175) | 53,837 | |||||||
|
| |||||||
China — 35.8% | ||||||||
360 Security Technology, Inc., Class A | 800 | 1,988 | ||||||
3SBio, Inc., 144A* | 3,404 | 3,388 | ||||||
51job, Inc., ADR* | 71 | 4,658 | ||||||
AAC Technologies Holdings, Inc. (a) | 2,643 | 14,242 | ||||||
Air China Ltd., Class A | 1,000 | 1,248 | ||||||
Air China Ltd., Class H | 5,074 | 4,186 | ||||||
Alibaba Group Holding Ltd., ADR* | 5,816 | 1,382,812 | ||||||
A-Living Smart City Services Co. Ltd., 144A | 1,464 | 6,134 | ||||||
Angel Yeast Co. Ltd., Class A | 200 | 1,648 | ||||||
Bank of Shanghai Co. Ltd., Class A | 2,300 | 2,974 | ||||||
Baoshan Iron & Steel Co. Ltd., Class A | 2,900 | 3,365 | ||||||
BBMG Corp., Class A | 2,500 | 1,103 | ||||||
Beijing Oriental Yuhong Waterproof Technology Co. Ltd., Class A | 600 | 4,373 | ||||||
BYD Co. Ltd., Class A | 300 | 9,133 | ||||||
BYD Co. Ltd., Class H | 2,485 | 63,171 | ||||||
BYD Electronic International Co. Ltd. | 2,100 | 11,708 | ||||||
CanSino Biologics, Inc., Class H, 144A* (a) | 200 | 9,514 | ||||||
China CITIC Bank Corp. Ltd., Class H | 23,852 | 11,254 | ||||||
China Conch Venture Holdings Ltd. | 5,209 | 23,166 |
Number | Value | |||||||
China (Continued) | ||||||||
China Construction Bank Corp., Class A | 1,800 | $ | 2,017 | |||||
China Construction Bank Corp., Class H | 299,015 | 240,142 | ||||||
China Eastern Airlines Corp. Ltd., Class A | 1,600 | 1,165 | ||||||
China Everbright Bank Co. Ltd., Class H | 9,368 | 4,058 | ||||||
China Feihe Ltd., 144A | 4,000 | 10,957 | ||||||
China Jushi Co. Ltd., Class A | 900 | 3,118 | ||||||
China Lesso Group Holdings Ltd. | 3,014 | 5,572 | ||||||
China Literature Ltd., 144A* | 934 | 8,705 | ||||||
China Medical System Holdings Ltd. | 3,767 | 5,886 | ||||||
China Merchants Bank Co. Ltd., Class H | 12,345 | 94,767 | ||||||
China Merchants Shekou Industrial Zone Holdings Co. Ltd., Class A | 1,500 | 2,977 | ||||||
China Minsheng Banking Corp. Ltd., Class H | 18,509 | 11,047 | ||||||
China Molybdenum Co. Ltd., Class A | 3,300 | 3,412 | ||||||
China Molybdenum Co. Ltd., Class H | 8,614 | 6,663 | ||||||
China National Software & Service Co. Ltd., Class A | 100 | 898 | ||||||
China Resources Pharmaceutical Group Ltd., 144A | 4,506 | 2,875 | ||||||
China Vanke Co. Ltd., Class A | 1,900 | 9,705 | ||||||
China Vanke Co. Ltd., Class H | 5,288 | 22,427 | ||||||
CIFI Holdings Group Co. Ltd. | 10,692 | 10,131 | ||||||
CITIC Ltd. | 20,062 | 16,991 | ||||||
Contemporary Amperex Technology Co. Ltd., Class A | 404 | 20,090 | ||||||
Country Garden Services Holdings Co. Ltd. | 4,376 | 35,990 | ||||||
CSPC Pharmaceutical Group Ltd. | 27,027 | 28,221 | ||||||
Dali Foods Group Co. Ltd., 144A | 5,848 | 3,558 | ||||||
ENN Energy Holdings Ltd. | 2,463 | 37,751 | ||||||
Eve Energy Co. Ltd., Class A | 380 | 5,014 | ||||||
Fosun International Ltd. | 9,034 | 13,556 | ||||||
GEM Co. Ltd., Class A | 2,100 | 2,434 | ||||||
Genscript Biotech Corp.* | 2,612 | 4,505 | ||||||
GoerTek, Inc., Class A | 600 | 2,963 | ||||||
Gotion High-tech Co. Ltd., Class A* | 400 | 2,277 | ||||||
Greenland Holdings Corp. Ltd., Class A | 1,200 | 1,043 | ||||||
Greentown Service Group Co. Ltd. | 4,970 | 5,049 | ||||||
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class A | 300 | 1,337 | ||||||
Guangzhou Kingmed Diagnostics Group Co. Ltd., Class A | 100 | 2,113 | ||||||
Guangzhou R&F Properties Co. Ltd., Class H | 5,200 | 6,945 | ||||||
Hansoh Pharmaceutical Group Co. Ltd., 144A* | 3,817 | 19,436 | ||||||
Huadong Medicine Co. Ltd., Class A | 400 | 1,965 | ||||||
Huaxia Bank Co. Ltd., Class A | 2,100 | 2,022 | ||||||
Industrial Bank Co. Ltd., Class A | 4,000 | 15,235 | ||||||
Inner Mongolia Yili Industrial Group Co. Ltd., Class A | 900 | 6,003 | ||||||
Jinke Properties Group Co. Ltd., Class A | 1,400 | 1,610 | ||||||
Kingdee International Software Group Co. Ltd.* | 7,191 | 25,817 | ||||||
KWG Group Holdings Ltd. | 3,000 | 4,548 |
See Notes to Financial Statements. | 28 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
China (Continued) | ||||||||
Lenovo Group Ltd. | 20,046 | $ | 25,350 | |||||
Logan Group Co. Ltd. | 4,000 | 6,229 | ||||||
Longfor Group Holdings Ltd., 144A | 5,345 | 31,695 | ||||||
Meituan, Class B, 144A* | 11,062 | 484,841 | ||||||
Microport Scientific Corp. | 2,673 | 15,730 | ||||||
NARI Technology Co. Ltd., Class A | 800 | 3,505 | ||||||
NIO, Inc., ADR* | 3,959 | 181,243 | ||||||
Offshore Oil Engineering Co. Ltd., Class A | 100 | 76 | ||||||
Ovctek China, Inc., Class A | 100 | 1,438 | ||||||
Ping An Healthcare and Technology Co. Ltd., 144A* (a) | 1,604 | 23,179 | ||||||
Poly Developments and Holdings Group Co. Ltd., Class A | 2,000 | 4,796 | ||||||
Poly Property Services Co. Ltd. | 200 | 1,316 | ||||||
Sangfor Technologies, Inc., Class A | 100 | 4,094 | ||||||
Shandong Weigao Group Medical Polymer Co. Ltd., Class H | 7,634 | 13,108 | ||||||
Shanghai M&G Stationery, Inc., Class A | 200 | 2,397 | ||||||
Shanghai Pharmaceuticals Holding Co. Ltd., Class A | 300 | 948 | ||||||
Shanghai Pharmaceuticals Holding Co. Ltd., Class H | 2,075 | 3,804 | ||||||
Shenzhen Inovance Technology Co. Ltd., Class A | 300 | 3,949 | ||||||
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A | 200 | 12,902 | ||||||
Sichuan Chuantou Energy Co. Ltd., Class A | 700 | 1,159 | ||||||
Sinopharm Group Co. Ltd., Class H | 4,521 | 10,584 | ||||||
Sinotruk Hong Kong Ltd. | 1,828 | 5,832 | ||||||
Suning.com Co. Ltd., Class A (b) | 1,200 | 1,296 | ||||||
TCL Technology Group Corp., Class A | 2,900 | 3,683 | ||||||
Tencent Holdings Ltd. | 17,649 | 1,507,275 | ||||||
TravelSky Technology Ltd., Class H | 2,000 | 5,048 | ||||||
Uni-President China Holdings Ltd. | 5,000 | 6,007 | ||||||
Unisplendour Corp. Ltd., Class A | 840 | 2,786 | ||||||
Vipshop Holdings Ltd., ADR* | 1,366 | 50,979 | ||||||
Want Want China Holdings Ltd. | 17,000 | 12,272 | ||||||
Wuhu Sanqi Interactive Entertainment Network Technology Group Co. Ltd., Class A | 300 | 1,303 | ||||||
WuXi AppTec Co. Ltd., Class A | 280 | 6,209 | ||||||
WuXi AppTec Co. Ltd., Class H, 144A | 935 | 19,490 | ||||||
Wuxi Biologics Cayman, Inc., 144A* | 9,623 | 119,150 | ||||||
Wuxi Lead Intelligent Equipment Co. Ltd., Class A | 200 | 2,590 | ||||||
Xinjiang Goldwind Science & Technology Co. Ltd., Class A | 700 | 1,637 | ||||||
Xinjiang Goldwind Science & Technology Co. Ltd., Class H (a) | 2,164 | 4,631 | ||||||
Yunnan Baiyao Group Co. Ltd., Class A | 200 | 4,037 | ||||||
Zhejiang Expressway Co. Ltd., Class H | 6,006 | 5,242 | ||||||
Zhejiang Huayou Cobalt Co. Ltd., Class A* | 200 | 2,757 | ||||||
Zhengzhou Yutong Bus Co. Ltd., Class A | 600 | 1,406 |
Number | Value | |||||||
China (Continued) | ||||||||
Zoomlion Heavy Industry Science and Technology Co. Ltd., Class A | 2,100 | $ | 4,660 | |||||
Zoomlion Heavy Industry Science and Technology Co. Ltd., Class H | 2,978 | 4,538 | ||||||
|
| |||||||
(Cost $3,368,527) | 4,878,231 | |||||||
|
| |||||||
Colombia — 0.1% | ||||||||
Bancolombia SA | 720 | 6,252 | ||||||
|
| |||||||
Cyprus — 0.1% | ||||||||
Polymetal International PLC | 752 | 14,972 | ||||||
|
| |||||||
Czech Republic — 0.1% | ||||||||
Komercni banka AS* | 190 | 5,974 | ||||||
Moneta Money Bank AS, 144A* | 1,651 | 6,048 | ||||||
|
| |||||||
(Cost $11,262) | 12,022 | |||||||
|
| |||||||
Egypt — 0.1% | ||||||||
Commercial International Bank Egypt SAE | 4,321 | 17,163 | ||||||
|
| |||||||
Greece — 0.1% | ||||||||
Hellenic Telecommunications Organization SA | 830 | 12,835 | ||||||
|
| |||||||
Hong Kong — 2.3% | ||||||||
Alibaba Health Information Technology Ltd.* | 12,046 | 40,374 | ||||||
Beijing Enterprises Water Group Ltd.* | 18,000 | 7,123 | ||||||
China Everbright Environment Group Ltd. | 10,098 | 5,780 | ||||||
China Gas Holdings Ltd. | 8,636 | 34,790 | ||||||
China Mengniu Dairy Co. Ltd.* | 8,969 | 49,023 | ||||||
China Overseas Land & Investment Ltd. | 12,783 | 32,364 | ||||||
China Overseas Property Holdings Ltd. | 3,000 | 1,976 | ||||||
China Resources Gas Group Ltd. | 2,662 | 13,297 | ||||||
Geely Automobile Holdings Ltd. | 18,669 | 60,647 | ||||||
Hutchison China MediTech Ltd., ADR* | 205 | 5,892 | ||||||
Lee & Man Paper Manufacturing Ltd. | 4,038 | 3,743 | ||||||
Shenzhen Investment Ltd. | 9,074 | 3,263 | ||||||
Sino Biopharmaceutical Ltd. | 31,360 | 34,888 | ||||||
Sun Art Retail Group Ltd. | 5,000 | 4,318 | ||||||
Vinda International Holdings Ltd. | 1,000 | 2,984 | ||||||
Wharf Holdings Ltd. | 5,345 | 12,609 | ||||||
|
| |||||||
(Cost $264,341) | 313,071 | |||||||
|
| |||||||
Hungary — 0.4% | ||||||||
MOL Hungarian Oil & Gas PLC* | 1,212 | 8,753 | ||||||
OTP Bank Nyrt* | 694 | 31,732 | ||||||
Richter Gedeon Nyrt | 442 | 12,689 | ||||||
|
| |||||||
(Cost $52,612) | 53,174 | |||||||
|
| |||||||
India — 10.0% | ||||||||
Adani Green Energy Ltd.* | 1,189 | 18,767 | ||||||
Ambuja Cements Ltd. | 2,157 | 8,028 | ||||||
Asian Paints Ltd. | 1,210 | 37,496 |
See Notes to Financial Statements. | 29 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
India (Continued) | ||||||||
Axis Bank Ltd.* | 7,236 | $ | 71,370 | |||||
Berger Paints India Ltd. | 494 | 4,570 | ||||||
Bharat Petroleum Corp. Ltd. | 1,946 | 11,913 | ||||||
Bharti Airtel Ltd. | 7,500 | 56,777 | ||||||
Britannia Industries Ltd. | 341 | 15,609 | ||||||
Colgate-Palmolive India Ltd. | 386 | 8,306 | ||||||
Dabur India Ltd. | 1,757 | 12,029 | ||||||
DLF Ltd. | 1,419 | 5,841 | ||||||
Eicher Motors Ltd. | 428 | 14,553 | ||||||
Godrej Consumer Products Ltd.* | 1,199 | 11,199 | ||||||
Grasim Industries Ltd. | 923 | 15,083 | ||||||
Havells India Ltd. | 663 | 9,975 | ||||||
HCL Technologies Ltd. | 3,456 | 42,771 | ||||||
Hero MotoCorp Ltd. | 346 | 15,180 | ||||||
Hindalco Industries Ltd. | 4,955 | 22,943 | ||||||
Hindustan Petroleum Corp. Ltd. | 1,432 | 4,725 | ||||||
Hindustan Unilever Ltd. | 2,621 | 76,044 | ||||||
Housing Development Finance Corp. Ltd. | 5,326 | 184,049 | ||||||
Infosys Ltd. | 3,814 | 65,048 | ||||||
Infosys Ltd., ADR | 6,754 | 115,629 | ||||||
Lupin Ltd. | 735 | �� | 10,186 | |||||
Mahindra & Mahindra Ltd. | 2,546 | 27,939 | ||||||
Marico Ltd. | 1,633 | 8,834 | ||||||
Nestle India Ltd. | 107 | 23,445 | ||||||
Pidilite Industries Ltd. | 401 | 9,200 | ||||||
Piramal Enterprises Ltd. | 254 | 6,323 | ||||||
Reliance Industries Ltd. | 8,744 | 248,190 | ||||||
Shree Cement Ltd.* | 29 | 10,459 | ||||||
Siemens Ltd. | 247 | 6,218 | ||||||
Tata Consultancy Services Ltd. | 2,860 | 112,645 | ||||||
Tech Mahindra Ltd. | 1,979 | 24,745 | ||||||
Titan Co. Ltd. | 1,039 | 19,892 | ||||||
UPL Ltd. | 1,411 | 10,782 | ||||||
Wipro Ltd. | 3,444 | 19,229 | ||||||
Wipro Ltd., ADR | 270 | 1,655 | ||||||
|
| |||||||
(Cost $1,158,873) | 1,367,647 | |||||||
|
| |||||||
Indonesia — 1.5% | ||||||||
PT Bank Central Asia Tbk | 31,150 | 73,391 | ||||||
PT Bank Mandiri Persero Tbk* | 59,940 | 25,887 | ||||||
PT Bank Negara Indonesia Persero Tbk | 21,263 | 8,884 | ||||||
PT Bank Rakyat Indonesia Persero Tbk* | 176,972 | 58,535 | ||||||
PT Barito Pacific Tbk* | 88,141 | 6,809 | ||||||
PT Indah Kiat Pulp & Paper Corp. Tbk | 6,903 | 6,387 | ||||||
PT Indofood Sukses Makmur Tbk | 15,203 | 6,459 | ||||||
PT Kalbe Farma Tbk | 58,860 | 6,076 | ||||||
PT Perusahaan Gas Negara Tbk | 39,187 | 3,963 | ||||||
PT Unilever Indonesia Tbk | 22,952 | 11,282 | ||||||
|
| |||||||
(Cost $197,395) | 207,673 | |||||||
|
| |||||||
Malaysia — 2.0% | ||||||||
AMMB Holdings Bhd | 3,600 | 2,811 | ||||||
Axiata Group Bhd | 7,483 | 6,563 | ||||||
CIMB Group Holdings Bhd | 18,184 | 19,453 | ||||||
Dialog Group Bhd | 11,900 | 9,496 | ||||||
DiGi.Com Bhd | 11,200 | 10,238 |
Number | Value | |||||||
Malaysia (Continued) | ||||||||
Fraser & Neave Holdings Bhd | 300 | $ | 2,317 | |||||
HAP Seng Consolidated Bhd | 1,600 | 3,364 | ||||||
Hartalega Holdings Bhd | 5,500 | 13,589 | ||||||
IHH Healthcare Bhd | 7,200 | 9,037 | ||||||
Kossan Rubber Industries | 3,000 | 2,928 | ||||||
Kuala Lumpur Kepong Bhd | 1,400 | 8,128 | ||||||
Malayan Banking Bhd | 11,567 | 22,948 | ||||||
Malaysia Airports Holdings Bhd | 2,600 | 3,848 | ||||||
Maxis Bhd | 7,300 | 8,567 | ||||||
MISC Bhd | 4,200 | 7,035 | ||||||
Nestle Malaysia Bhd | 200 | 6,814 | ||||||
Petronas Dagangan Bhd | 700 | 3,459 | ||||||
Petronas Gas Bhd | 2,500 | 10,130 | ||||||
PPB Group Bhd | 2,000 | 9,309 | ||||||
Press Metal Aluminium Holdings Bhd | 4,900 | 11,731 | ||||||
Public Bank Bhd | 45,175 | 46,431 | ||||||
QL Resources Bhd | 5,700 | 8,661 | ||||||
RHB Bank Bhd | 4,000 | 5,356 | ||||||
Sime Darby Bhd | 7,200 | 4,038 | ||||||
Supermax Corp. Bhd | 4,177 | 4,995 | ||||||
Telekom Malaysia Bhd | 3,000 | 4,551 | ||||||
Top Glove Corp. Bhd | 14,400 | 18,643 | ||||||
Westports Holdings Bhd | 2,700 | 2,722 | ||||||
|
| |||||||
(Cost $270,048) | 267,162 | |||||||
|
| |||||||
Mexico — 1.0% | ||||||||
Arca Continental SAB de CV | 1,585 | 7,183 | ||||||
Cemex SAB de CV, Series CPO* | 46,701 | 31,133 | ||||||
Coca-Cola Femsa SAB de CV | 1,578 | 6,625 | ||||||
Fomento Economico Mexicano SAB de CV | 6,030 | 41,278 | ||||||
Gruma SAB de CV, Class B | 680 | 7,415 | ||||||
Grupo Aeroportuario del Sureste SAB de CV, Class B* | 741 | 13,871 | ||||||
Grupo Bimbo SAB de CV, Series A | 5,449 | 10,241 | ||||||
Industrias Penoles SAB de CV* | 521 | 7,155 | ||||||
Infraestructura Energetica Nova SAB de CV* | 1,696 | 5,905 | ||||||
Kimberly-Clark de Mexico SAB de CV, Class A | 4,607 | 7,370 | ||||||
|
| |||||||
(Cost $138,219) | 138,176 | |||||||
|
| |||||||
Philippines — 0.9% | ||||||||
Ayala Corp. | 860 | 13,258 | ||||||
Ayala Land, Inc. | 25,400 | 20,442 | ||||||
Bank of the Philippine Islands | 5,680 | 10,419 | ||||||
BDO Unibank, Inc. | 6,150 | 13,372 | ||||||
JG Summit Holdings, Inc. | 8,990 | 11,942 | ||||||
Manila Electric Co. | 680 | 3,798 | ||||||
Metropolitan Bank & Trust Co. | 5,346 | 5,586 | ||||||
SM Investments Corp. | 752 | 15,638 | ||||||
SM Prime Holdings, Inc. | 29,400 | 21,905 | ||||||
Universal Robina Corp. | 2,810 | 7,396 | ||||||
|
| |||||||
(Cost $123,861) | 123,756 | |||||||
|
| |||||||
Poland — 0.8% | ||||||||
Bank Polska Kasa Opieki SA* | 608 | 11,067 | ||||||
CD Projekt SA* | 194 | 12,323 |
See Notes to Financial Statements. | 30 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Poland (Continued) | ||||||||
Cyfrowy Polsat SA | 669 | $ | 5,137 | |||||
KGHM Polska Miedz SA* | 442 | 22,469 | ||||||
Orange Polska SA* | 2,422 | 4,106 | ||||||
Polski Koncern Naftowy ORLEN SA | 855 | 13,506 | ||||||
Powszechna Kasa Oszczednosci Bank Polski SA* | 2,650 | 21,443 | ||||||
Powszechny Zaklad Ubezpieczen SA* | 1,882 | 14,789 | ||||||
Santander Bank Polska SA* | 118 | 6,666 | ||||||
|
| |||||||
(Cost $128,306) | 111,506 | |||||||
|
| |||||||
Qatar — 0.6% | ||||||||
Commercial Bank PSQC | 3,856 | 4,532 | ||||||
Ooredoo QPSC | 2,200 | 4,652 | ||||||
Qatar Fuel QSC | 1,040 | 4,820 | ||||||
Qatar National Bank QPSC | 14,672 | 69,497 | ||||||
|
| |||||||
(Cost $88,774) | 83,501 | |||||||
|
| |||||||
Romania — 0.1% | ||||||||
NEPI Rockcastle PLC | 1,367 | 8,374 | ||||||
|
| |||||||
Russia — 1.9% | ||||||||
Gazprom PJSC | 36,055 | 105,885 | ||||||
LUKOIL PJSC | 1,271 | 95,550 | ||||||
LUKOIL PJSC, ADR | 1 | 74 | ||||||
Mobile TeleSystems PJSC, ADR | 1,423 | 11,697 | ||||||
Moscow Exchange MICEX-RTS PJSC | 3,823 | 8,871 | ||||||
Novolipetsk Steel PJSC | 4,211 | 12,648 | ||||||
PhosAgro PJSC, GDR | 402 | 7,051 | ||||||
Polyus PJSC | 97 | 18,278 | ||||||
|
| |||||||
(Cost $247,474) | 260,054 | |||||||
|
| |||||||
Saudi Arabia — 1.3% | ||||||||
Almarai Co. JSC | 752 | 10,226 | ||||||
Bank AlBilad | 1,128 | 9,910 | ||||||
Banque Saudi Fransi | 1,944 | 14,461 | ||||||
Samba Financial Group | 3,176 | 28,580 | ||||||
Saudi Arabian Mining Co.* | 1,454 | 19,927 | ||||||
Saudi Basic Industries Corp. | 2,820 | 80,153 | ||||||
Savola Group | 848 | 8,513 | ||||||
|
| |||||||
(Cost $165,591) | 171,770 | |||||||
|
| |||||||
Singapore — 0.0% | ||||||||
BOC Aviation Ltd., 144A | 534 | 5,163 | ||||||
|
| |||||||
South Africa — 5.5% | ||||||||
Absa Group Ltd. | 2,322 | 18,602 | ||||||
Anglo American Platinum Ltd. | 158 | 19,134 | ||||||
Aspen Pharmacare Holdings Ltd.* | 1,218 | 11,455 | ||||||
Bid Corp. Ltd. | 1,069 | 19,998 | ||||||
Bidvest Group Ltd. | 802 | 8,909 | ||||||
Capitec Bank Holdings Ltd.* | 190 | 16,794 | ||||||
Clicks Group Ltd. | 671 | 10,843 | ||||||
FirstRand Ltd. | 13,737 | 45,638 | ||||||
Gold Fields Ltd. | 2,674 | 22,206 | ||||||
Growthpoint Properties Ltd. REIT | 10,576 | 9,545 | ||||||
Impala Platinum Holdings Ltd. | 2,420 | 39,316 | ||||||
Kumba Iron Ore Ltd. | 215 | 9,212 |
Number | Value | |||||||
South Africa (Continued) | ||||||||
Mr Price Group Ltd. | 869 | $ | 10,007 | |||||
MTN Group Ltd. | 5,464 | 26,223 | ||||||
MultiChoice Group | 1,450 | 12,220 | ||||||
Naspers Ltd., Class N | 1,331 | 309,148 | ||||||
Nedbank Group Ltd. | 1,290 | 11,126 | ||||||
Northam Platinum Ltd.* | 1,038 | 15,207 | ||||||
Old Mutual Ltd. | 13,451 | 11,945 | ||||||
Remgro Ltd. | 1,691 | 11,568 | ||||||
Sanlam Ltd. | 5,552 | 22,279 | ||||||
Shoprite Holdings Ltd. | 1,558 | 13,688 | ||||||
SPAR Group Ltd. | 679 | 8,534 | ||||||
Standard Bank Group Ltd. | 4,020 | 35,300 | ||||||
Vodacom Group Ltd. | 2,071 | 17,034 | ||||||
Woolworths Holdings Ltd. | 3,237 | 9,859 | ||||||
|
| |||||||
(Cost $752,279) | 745,790 | |||||||
|
| |||||||
South Korea — 6.3% | ||||||||
Amorepacific Corp. | 103 | 21,498 | ||||||
AMOREPACIFIC Group | 67 | 3,858 | ||||||
BGF retail Co. Ltd. | 19 | 2,689 | ||||||
CJ CheilJedang Corp. | 29 | 10,493 | ||||||
CJ Corp. | 40 | 3,300 | ||||||
Doosan Bobcat, Inc.* | 91 | 2,620 | ||||||
GS Engineering & Construction Corp. | 161 | 5,209 | ||||||
GS Holdings Corp. | 140 | 4,860 | ||||||
Hana Financial Group, Inc. | 901 | 29,713 | ||||||
Hankook Tire & Technology Co. Ltd. | 235 | 9,967 | ||||||
Hanwha Solutions Corp.* | 417 | 16,721 | ||||||
Hyundai Heavy Industries Holdings Co. Ltd. | 29 | 6,982 | ||||||
Hyundai Marine & Fire Insurance Co. Ltd. | 172 | 3,353 | ||||||
KB Financial Group, Inc. | 1,237 | 48,225 | ||||||
Korea Gas Corp.* | 80 | 2,268 | ||||||
LG Chem Ltd. | 140 | 103,551 | ||||||
LG Corp. | 270 | 22,566 | ||||||
LG Display Co. Ltd. | 662 | 13,317 | ||||||
LG Electronics, Inc. | 337 | 43,943 | ||||||
LG Household & Health Care Ltd. | 31 | 41,747 | ||||||
LG Innotek Co. Ltd. | 54 | 9,565 | ||||||
Lotte Chemical Corp. | 49 | 13,869 | ||||||
Lotte Corp. | 68 | 2,034 | ||||||
NAVER Corp. | 378 | 126,168 | ||||||
Samsung Card Co. Ltd. | 58 | 1,701 | ||||||
Samsung Electro-Mechanics Co. Ltd. | 169 | 28,505 | ||||||
Samsung Fire & Marine Insurance Co. Ltd. | 94 | 14,474 | ||||||
Samsung SDI Co. Ltd. | 167 | 100,185 | ||||||
Shinhan Financial Group Co. Ltd. | 1,322 | 38,772 | ||||||
SK Holdings Co. Ltd. | 110 | 25,701 | ||||||
SK Innovation Co. Ltd.* | 171 | 39,649 | ||||||
SK Telecom Co. Ltd. | 129 | 28,418 | ||||||
S-Oil Corp.* | 147 | 11,122 | ||||||
Woori Financial Group, Inc. | 1,640 | 13,984 | ||||||
Yuhan Corp. | 188 | 10,375 | ||||||
|
| |||||||
(Cost $686,201) | 861,402 | |||||||
|
|
See Notes to Financial Statements. | 31 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Taiwan — 20.0% | ||||||||
Accton Technology Corp. | 1,337 | $ | 12,601 | |||||
Acer, Inc. | 10,023 | 9,662 | ||||||
Advantech Co. Ltd. | 1,387 | 18,052 | ||||||
ASE Technology Holding Co. Ltd. | 10,740 | 39,910 | ||||||
AU Optronics Corp.* | 28,888 | 19,603 | ||||||
Catcher Technology Co. Ltd. | 2,207 | 15,214 | ||||||
Cathay Financial Holding Co. Ltd. | 24,730 | 37,247 | ||||||
Chailease Holding Co. Ltd. | 4,248 | 26,233 | ||||||
Cheng Shin Rubber Industry Co. Ltd. | 3,417 | 5,294 | ||||||
Chicony Electronics Co. Ltd. | 1,000 | 3,368 | ||||||
China Steel Corp. | 34,660 | 30,799 | ||||||
Chunghwa Telecom Co. Ltd. | 11,346 | 44,606 | ||||||
Compal Electronics, Inc. | 13,364 | 10,652 | ||||||
CTBC Financial Holding Co. Ltd. | 56,511 | 40,579 | ||||||
Delta Electronics, Inc. | 5,831 | 58,723 | ||||||
E.Sun Financial Holding Co. Ltd. | 35,568 | 32,245 | ||||||
Evergreen Marine Corp. Taiwan Ltd.* | 8,766 | 11,944 | ||||||
Far Eastern New Century Corp. | 8,978 | 9,332 | ||||||
Far EasTone Telecommunications Co. Ltd. | 4,382 | 9,723 | ||||||
First Financial Holding Co. Ltd. | 32,435 | 24,280 | ||||||
Fubon Financial Holding Co. Ltd. | 20,634 | 36,967 | ||||||
Hiwin Technologies Corp. | 820 | 11,747 | ||||||
Hotai Motor Co. Ltd. | 953 | 20,222 | ||||||
Hua Nan Financial Holdings Co. Ltd. | 28,625 | 18,653 | ||||||
Innolux Corp.* | 23,001 | 14,039 | ||||||
Inventec Corp. | 6,889 | 6,134 | ||||||
Lite-On Technology Corp. | 7,351 | 15,677 | ||||||
MediaTek, Inc. | 4,656 | 149,781 | ||||||
Micro-Star International Co. Ltd. | 2,004 | 10,721 | ||||||
Nan Ya Plastics Corp. | 17,095 | 44,621 | ||||||
President Chain Store Corp. | 1,573 | 14,797 | ||||||
Quanta Computer, Inc. | 9,691 | 29,575 | ||||||
Ruentex Development Co. Ltd. | 2,002 | 2,997 | ||||||
SinoPac Financial Holdings Co. Ltd. | 29,839 | 12,481 | ||||||
Taishin Financial Holding Co. Ltd. | 33,098 | 15,389 | ||||||
Taiwan Business Bank | 15,197 | 5,167 | ||||||
Taiwan High Speed Rail Corp. | 4,767 | 5,160 | ||||||
Taiwan Mobile Co. Ltd. | 5,413 | 18,871 | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd. | 75,631 | 1,645,539 | ||||||
Uni-President Enterprises Corp. | 16,023 | 38,659 | ||||||
United Microelectronics Corp. | 35,027 | 68,161 | ||||||
Vanguard International Semiconductor Corp. | 2,673 | 11,132 | ||||||
Win Semiconductors Corp. | 935 | 12,773 | ||||||
Wistron Corp. | 7,800 | 8,961 | ||||||
Yageo Corp. | 1,203 | 25,613 | ||||||
Yuanta Financial Holding Co. Ltd. | 29,483 | 22,494 | ||||||
|
| |||||||
(Cost $1,573,006) | 2,726,398 | |||||||
|
| |||||||
Thailand — 2.5% | ||||||||
Advanced Info Service PCL, NVDR | 3,800 | 20,869 | ||||||
Airports of Thailand PCL, NVDR | 13,100 | 27,822 | ||||||
B Grimm Power PCL, NVDR | 1,800 | 2,867 | ||||||
Bangkok Dusit Medical Services PCL, NVDR | 30,200 | 20,043 |
Number | Value | |||||||
Thailand (Continued) | ||||||||
Berli Jucker PCL, NVDR | 2,900 | $ | 3,585 | |||||
BTS Group Holdings PCL, NVDR | 24,300 | 7,580 | ||||||
Bumrungrad Hospital PCL, NVDR | 1,500 | 6,297 | ||||||
Central Pattana PCL, NVDR | 6,100 | 10,728 | ||||||
Charoen Pokphand Foods PCL, NVDR | 11,500 | 10,971 | ||||||
CP ALL PCL, NVDR | 18,400 | 36,330 | ||||||
Energy Absolute PCL, NVDR | 4,500 | 9,333 | ||||||
Gulf Energy Development PCL, NVDR | 8,800 | 9,710 | ||||||
Home Product Center PCL, NVDR | 20,300 | 8,959 | ||||||
Indorama Ventures PCL, NVDR | 4,700 | 6,161 | ||||||
Intouch Holdings PCL, NVDR | 6,600 | 12,210 | ||||||
Kasikornbank PCL, NVDR | 5,500 | 25,825 | ||||||
Land & Houses PCL, NVDR | 27,800 | 7,288 | ||||||
Minor International PCL, NVDR* | 10,755 | 10,796 | ||||||
Muangthai Capital PCL, NVDR | 2,400 | 5,197 | ||||||
PTT Exploration & Production PCL, NVDR | 4,100 | 15,646 | ||||||
PTT Global Chemical PCL, NVDR | 7,400 | 15,409 | ||||||
Siam Cement PCL, NVDR | 2,400 | 29,149 | ||||||
Siam Commercial Bank PCL, NVDR | 2,900 | 9,912 | ||||||
Thai Oil PCL, NVDR | 4,500 | 8,848 | ||||||
Thai Union Group PCL, NVDR | 7,700 | 3,577 | ||||||
Total Access Communication PCL, NVDR | 2,300 | 2,423 | ||||||
True Corp. PCL, NVDR | 45,600 | 4,751 | ||||||
|
| |||||||
(Cost $349,717) | 332,286 | |||||||
|
| |||||||
Turkey — 0.2% | ||||||||
KOC Holding AS | 2,010 | 5,847 | ||||||
Turk Hava Yollari AO* | 1,778 | 3,234 | ||||||
Turkcell Iletisim Hizmetleri AS | 3,502 | 7,483 | ||||||
Turkiye Garanti Bankasi AS* | 6,239 | 7,502 | ||||||
Turkiye Is Bankasi AS, Class C* | 3,942 | 3,045 | ||||||
|
| |||||||
(Cost $26,330) | 27,111 | |||||||
|
| |||||||
United Arab Emirates — 0.9% | ||||||||
Abu Dhabi Commercial Bank PJSC | 8,331 | 14,243 | ||||||
Abu Dhabi Islamic Bank PJSC | 2,209 | 3,001 | ||||||
Aldar Properties PJSC | 12,321 | 12,210 | ||||||
Dubai Islamic Bank PJSC | 6,921 | 8,950 | ||||||
Emirates NBD Bank PJSC | 7,798 | 23,777 | ||||||
Emirates Telecommunications Group Co. PJSC | 5,266 | 28,530 | ||||||
First Abu Dhabi Bank PJSC | 8,501 | 34,021 | ||||||
|
| |||||||
(Cost $114,272) | 124,732 | |||||||
|
| |||||||
TOTAL COMMON STOCKS | 13,236,401 | |||||||
|
| |||||||
PREFERRED STOCKS — 1.5% | ||||||||
Brazil — 1.1% | ||||||||
Banco Bradesco SA | 13,672 | 56,424 | ||||||
Cia Energetica de Minas Gerais | 3,490 | 7,490 | ||||||
Itau Unibanco Holding SA | 14,275 | 65,444 | ||||||
Itausa SA | 13,686 | 24,435 | ||||||
|
| |||||||
(Cost $262,227) | 153,793 | |||||||
|
|
See Notes to Financial Statements. | 32 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Chile — 0.2% | ||||||||
Embotelladora Andina SA, Class B | 628 | $ | 1,700 | |||||
Sociedad Quimica y Minera de Chile SA, Class B | 383 | 20,549 | ||||||
|
| |||||||
(Cost $20,590) | 22,249 | |||||||
|
| |||||||
Colombia — 0.1% | ||||||||
Bancolombia SA | 1,446 | 12,396 | ||||||
|
| |||||||
South Korea — 0.1% | ||||||||
AMOREPACIFIC Group* | 5 | 182 | ||||||
LG Chem Ltd. | 23 | 7,974 | ||||||
LG Household & Health Care Ltd. | 3 | 1,883 | ||||||
|
| |||||||
(Cost $7,171) | 10,039 | |||||||
|
| |||||||
TOTAL PREFERRED STOCKS | 198,477 | |||||||
|
| |||||||
Principal | ||||||||
CORPORATE BONDS — 0.0% | ||||||||
India — 0.0% | ||||||||
Britannia Industries Ltd. | INR 4,500 | 64 | ||||||
|
| |||||||
Number | ||||||||
WARRANTS — 0.0% | ||||||||
Thailand — 0.0% | ||||||||
Minor International PCL*, expires 9/30/21 | 305 | 12 | ||||||
|
|
Number | Value | |||||||
EXCHANGE-TRADED FUNDS — 0.0% iShares ESG Aware MSCI EM ETF | ||||||||
(Cost $5,249) | 125 | $ | 5,451 | |||||
|
| |||||||
SECURITIES LENDING COLLATERAL — 0.1% | ||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (c)(d) | 14,124 | 14,124 | ||||||
|
| |||||||
CASH EQUIVALENTS — 1.2% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (c) | 163,472 | 163,472 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 100.0% (Cost $10,625,436) | $ | 13,618,001 | ||||||
Other assets and liabilities, net — 0.0% | 5,792 | |||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 13,623,793 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2021 is as follows:
Value ($) at 8/31/2020 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2021 | Value ($) at 2/28/2021 | ||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 0.1% |
| |||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (c)(d) |
| |||||||||||||||||||||||||||||||||||
29,475 | — | (15,351 | )(e) | — | — | 3 | — | 14,124 | 14,124 | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 1.2% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (c) |
| |||||||||||||||||||||||||||||||||||
32,100 | 1,840,705 | (1,709,333 | ) | — | — | 10 | — | 163,472 | 163,472 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
61,575 | 1,840,705 | (1,724,684 | ) | — | — | 13 | — | 177,596 | 177,596 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* | 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, 2021 amounted to $45,569, which is 0.3% 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 $34,229. |
See Notes to Financial Statements. | 33 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (Continued)
February 28, 2021 (Unaudited)
(e) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2021. |
ADR: | American Depositary Receipt |
CPO: | Ordinary Participation Certificates |
GDR: | Global Depositary Receipt |
JSC: | Joint Stock Company |
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, 2021, open futures contracts purchased were as follows:
Contract Description | Currency | Number of Contracts | Notional Amount | Contract Value | Expiration Date | Unrealized Appreciation | ||||||||||||
MSCI Emerging Markets Index Futures | USD | 3 | $ | 194,687 | $ | 200,715 | 3/19/2021 | $ | 6,028 |
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, 2021 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) | $ | 13,235,105 | $ | — | $ | 1,296 | $ | 13,236,401 | ||||||||
Preferred Stocks (f) | 198,477 | — | — | 198,477 | ||||||||||||
Corporate Bonds | — | 64 | — | 64 | ||||||||||||
Warrants | 12 | — | — | 12 | ||||||||||||
Exchange-Traded Funds | 5,451 | — | — | 5,451 | ||||||||||||
Short-Term Investments (f) | 177,596 | — | — | 177,596 | ||||||||||||
Derivatives (g) | ||||||||||||||||
Futures Contracts | 6,028 | — | — | 6,028 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 13,622,669 | $ | 64 | $ | 1,296 | $ | 13,624,029 | ||||||||
|
|
|
|
|
|
|
|
(f) | See Schedule of Investments for additional detailed categorizations. |
(g) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
During the period ended February 28, 2021, the amount of transfers between Level 1 and Level 3 was $1,726. 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.
See Notes to Financial Statements. | 34 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI USA ESG Leaders Equity ETF
Number | Value | |||||||
COMMON STOCKS — 99.7% | ||||||||
Communication Services — 12.1% | ||||||||
Activision Blizzard, Inc. | 150,853 | $ | 14,423,055 | |||||
Alphabet, Inc., Class A* | 58,322 | 117,921,835 | ||||||
Alphabet, Inc., Class C* | 58,174 | 118,492,294 | ||||||
Cable One, Inc. | 1,031 | 1,974,210 | ||||||
Discovery, Inc., Class A* | 30,828 | 1,634,809 | ||||||
Discovery, Inc., Class C* | 61,747 | 2,778,615 | ||||||
Electronic Arts, Inc. | 57,620 | 7,719,351 | ||||||
Liberty Broadband Corp., Class C* | 30,802 | 4,605,207 | ||||||
Liberty Global PLC, Class A* | 31,064 | 764,951 | ||||||
Liberty Global PLC, Class C* | 74,686 | 1,814,870 | ||||||
Lumen Technologies, Inc. | 177,034 | 2,175,748 | ||||||
Omnicom Group, Inc. | 41,467 | 2,850,027 | ||||||
Verizon Communications, Inc. | 805,142 | 44,524,353 | ||||||
Walt Disney Co.* | 353,260 | 66,780,270 | ||||||
|
| |||||||
(Cost $279,215,163) | 388,459,595 | |||||||
|
| |||||||
Consumer Discretionary — 13.5% | ||||||||
Advance Auto Parts, Inc. | 13,174 | 2,112,451 | ||||||
Aptiv PLC* | 53,075 | 7,952,758 | ||||||
Aramark | 43,355 | 1,609,338 | ||||||
Best Buy Co., Inc. | 46,301 | 4,646,305 | ||||||
Booking Holdings, Inc.* | 8,029 | 18,695,607 | ||||||
BorgWarner, Inc. | 46,745 | 2,103,525 | ||||||
Burlington Stores, Inc.* | 12,683 | 3,282,614 | ||||||
CarMax, Inc.* | 31,279 | 3,738,153 | ||||||
Darden Restaurants, Inc. | 24,441 | 3,356,483 | ||||||
Domino’s Pizza, Inc. | 8,054 | 2,790,792 | ||||||
eBay, Inc. | 134,878 | 7,609,817 | ||||||
Expedia Group, Inc. | 161 | 25,921 | ||||||
Garmin Ltd. | 27,330 | 3,389,467 | ||||||
Genuine Parts Co. | 27,747 | 2,923,146 | ||||||
Hasbro, Inc. | 24,501 | 2,295,989 | ||||||
Hilton Worldwide Holdings, Inc.* | 54,993 | 6,801,534 | ||||||
Home Depot, Inc. | 210,114 | 54,280,851 | ||||||
LKQ Corp.* | 55,834 | 2,199,301 | ||||||
Lowe’s Cos., Inc. | 143,341 | 22,898,725 | ||||||
Lululemon Athletica, Inc.* | 24,216 | 7,547,643 | ||||||
McDonald’s Corp. | 145,160 | 29,923,282 | ||||||
MercadoLibre, Inc.* | 8,769 | 14,364,587 | ||||||
Mohawk Industries, Inc.* | 12,661 | 2,215,548 | ||||||
Newell Brands, Inc. | 74,273 | 1,720,905 | ||||||
NIKE, Inc., Class B | 244,983 | 33,018,809 | ||||||
NVR, Inc.* | 700 | 3,150,588 | ||||||
Ross Stores, Inc. | 69,738 | 8,134,240 | ||||||
Royal Caribbean Cruises Ltd. | 36,256 | 3,381,597 | ||||||
Starbucks Corp. | 228,611 | 24,696,846 | ||||||
Target Corp. | 97,620 | 17,907,413 | ||||||
Tesla, Inc.* (a) | 147,972 | 99,955,086 | ||||||
TJX Cos., Inc. | 234,116 | 15,449,315 | ||||||
Tractor Supply Co. | 22,080 | 3,509,837 | ||||||
Ulta Beauty, Inc.* | 10,286 | 3,315,486 | ||||||
Vail Resorts, Inc. | 7,528 | 2,327,507 | ||||||
VF Corp. | 65,555 | 5,187,367 | ||||||
Whirlpool Corp. | 12,104 | 2,300,728 | ||||||
|
| |||||||
(Cost $288,640,326) | 430,819,561 | |||||||
|
|
Number | Value | |||||||
Consumer Staples — 6.0% | ||||||||
Bunge Ltd. | 27,300 | $ | 2,090,634 | |||||
Campbell Soup Co. | 34,838 | 1,584,432 | ||||||
Clorox Co. | 24,386 | 4,415,085 | ||||||
Coca-Cola Co. | 796,224 | 39,007,014 | ||||||
Colgate-Palmolive Co. | 159,682 | 12,008,086 | ||||||
Estee Lauder Cos., Inc., Class A | 43,881 | 12,543,823 | ||||||
General Mills, Inc. | 119,110 | 6,552,241 | ||||||
Hormel Foods Corp. | 56,220 | 2,606,921 | ||||||
Kellogg Co. | 51,802 | 2,989,494 | ||||||
Kimberly-Clark Corp. | 66,459 | 8,528,684 | ||||||
McCormick & Co., Inc. | 49,465 | 4,168,910 | ||||||
PepsiCo, Inc. | 269,247 | 34,784,020 | ||||||
Procter & Gamble Co. | 484,546 | 59,855,967 | ||||||
|
| |||||||
(Cost $180,665,973) | 191,135,311 | |||||||
|
| |||||||
Energy — 1.3% | ||||||||
Baker Hughes Co. | 132,848 | 3,252,119 | ||||||
Cheniere Energy, Inc.* | 43,739 | 2,947,571 | ||||||
Marathon Petroleum Corp. | 126,212 | 6,893,699 | ||||||
ONEOK, Inc. | 89,403 | 3,959,659 | ||||||
Phillips 66 | 83,960 | 6,972,878 | ||||||
Schlumberger N.V. | 275,510 | 7,689,484 | ||||||
Valero Energy Corp. | 81,577 | 6,279,798 | ||||||
Williams Cos., Inc. | 231,746 | 5,293,079 | ||||||
|
| |||||||
(Cost $44,889,937) | 43,288,287 | |||||||
|
| |||||||
Financials — 10.6% | ||||||||
Allstate Corp. | 60,008 | 6,396,853 | ||||||
Ally Financial, Inc. | 71,656 | 2,973,724 | ||||||
American Express Co. | 133,899 | 18,111,179 | ||||||
American Financial Group, Inc. | 14,903 | 1,590,150 | ||||||
American International Group, Inc. | 169,756 | 7,460,776 | ||||||
Ameriprise Financial, Inc. | 23,588 | 5,218,609 | ||||||
Aon PLC, Class A (a) | 45,318 | 10,319,362 | ||||||
Arch Capital Group Ltd.* | 76,528 | 2,741,233 | ||||||
Arthur J Gallagher & Co. | 37,824 | 4,531,315 | ||||||
Assurant, Inc. | 11,357 | 1,399,410 | ||||||
Bank of New York Mellon Corp. | 153,097 | 6,454,570 | ||||||
BlackRock, Inc. | 29,612 | 20,565,534 | ||||||
Carlyle Group, Inc. | 26,663 | 913,208 | ||||||
Cboe Global Markets, Inc. | 21,154 | 2,093,400 | ||||||
Charles Schwab Corp. | 298,023 | 18,393,980 | ||||||
Chubb Ltd. | 87,670 | 14,253,389 | ||||||
Citizens Financial Group, Inc. | 81,724 | 3,550,091 | ||||||
CME Group, Inc. | 69,726 | 13,924,282 | ||||||
Discover Financial Services | 58,892 | 5,539,970 | ||||||
Equitable Holdings, Inc. (a) | 79,326 | 2,345,670 | ||||||
Erie Indemnity Co., Class A | 4,937 | 1,195,248 | ||||||
FactSet Research Systems, Inc. | 7,256 | 2,205,171 | ||||||
First Republic Bank | 34,399 | 5,667,235 | ||||||
Franklin Resources, Inc. (a) | 55,493 | 1,452,252 | ||||||
Hartford Financial Services Group, Inc. | 73,020 | 3,701,384 | ||||||
Huntington Bancshares, Inc. | 194,825 | 2,988,615 | ||||||
Intercontinental Exchange, Inc. | 110,021 | 12,136,416 | ||||||
Invesco Ltd. | 83,764 | 1,877,989 | ||||||
KeyCorp | 197,686 | 3,981,396 | ||||||
Lincoln National Corp. | 37,255 | 2,118,692 |
See Notes to Financial Statements. | 35 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI USA ESG Leaders Equity ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Financials (Continued) | ||||||||
Loews Corp. | 48,270 | $ | 2,307,789 | |||||
M&T Bank Corp. | 24,211 | 3,654,408 | ||||||
MarketAxess Holdings, Inc. | 7,258 | 4,035,013 | ||||||
Marsh & McLennan Cos., Inc. | 99,037 | 11,411,043 | ||||||
Moody’s Corp. | 32,961 | 9,060,649 | ||||||
Nasdaq, Inc. | 21,929 | 3,032,561 | ||||||
Northern Trust Corp. | 39,831 | 3,789,123 | ||||||
PNC Financial Services Group, Inc. | 82,850 | 13,948,626 | ||||||
Principal Financial Group, Inc. | 52,509 | 2,970,959 | ||||||
Progressive Corp. | 114,191 | 9,814,716 | ||||||
Prudential Financial, Inc. | 75,807 | 6,573,983 | ||||||
Raymond James Financial, Inc. | 23,940 | 2,794,756 | ||||||
Regions Financial Corp. | 182,875 | 3,772,711 | ||||||
Reinsurance Group of America, Inc. | 12,934 | 1,580,923 | ||||||
S&P Global, Inc. | 47,036 | 15,491,777 | ||||||
State Street Corp. | 67,412 | 4,905,571 | ||||||
SVB Financial Group* | 9,773 | 4,938,883 | ||||||
T. Rowe Price Group, Inc. | 44,924 | 7,283,977 | ||||||
Travelers Cos., Inc. | 49,787 | 7,244,008 | ||||||
Truist Financial Corp. | 263,127 | 14,987,714 | ||||||
US Bancorp | 265,027 | 13,251,350 | ||||||
Voya Financial, Inc. (a) | 24,616 | 1,483,852 | ||||||
Willis Towers Watson PLC | 25,576 | 5,643,089 | ||||||
|
| |||||||
(Cost $281,756,811) | 340,078,584 | |||||||
|
| |||||||
Health Care — 13.0% | ||||||||
AbbVie, Inc. | 345,009 | 37,171,270 | ||||||
ABIOMED, Inc.* | 8,683 | 2,818,067 | ||||||
Agilent Technologies, Inc. | 59,295 | 7,238,141 | ||||||
Align Technology, Inc.* | 14,893 | 8,445,969 | ||||||
AmerisourceBergen Corp. | 29,406 | 2,976,475 | ||||||
Amgen, Inc. | 113,291 | 25,481,412 | ||||||
Becton Dickinson and Co. | 56,639 | 13,658,495 | ||||||
Biogen, Inc.* | 29,991 | 8,183,944 | ||||||
BioMarin Pharmaceutical, Inc.* | 34,118 | 2,641,757 | ||||||
Bristol-Myers Squibb Co. | 441,869 | 27,099,826 | ||||||
Cardinal Health, Inc. | 55,691 | 2,869,200 | ||||||
Centene Corp.* | 113,904 | 6,667,940 | ||||||
Cerner Corp. | 60,909 | 4,211,248 | ||||||
Cigna Corp. | 71,691 | 15,047,941 | ||||||
DaVita, Inc.* | 14,617 | 1,492,834 | ||||||
DENTSPLY SIRONA, Inc. | 42,356 | 2,247,833 | ||||||
DexCom, Inc.* | 18,728 | 7,449,624 | ||||||
Edwards Lifesciences Corp.* | 121,367 | 10,085,598 | ||||||
Gilead Sciences, Inc. | 244,805 | 15,031,027 | ||||||
HCA Healthcare, Inc.* | 53,357 | 9,179,005 | ||||||
Henry Schein, Inc.* | 27,415 | 1,695,618 | ||||||
Hologic, Inc.* | 49,306 | 3,554,469 | ||||||
Humana, Inc. | 25,881 | 9,825,722 | ||||||
IDEXX Laboratories, Inc.* | 16,763 | 8,719,610 | ||||||
Jazz Pharmaceuticals PLC* (a) | 10,603 | 1,781,728 | ||||||
Johnson & Johnson | 513,621 | 81,388,384 | ||||||
Laboratory Corp. of America Holdings* | 18,547 | 4,449,611 | ||||||
Merck & Co., Inc. | 493,397 | 35,830,490 | ||||||
Mettler-Toledo International, Inc.* | 4,797 | 5,353,692 | ||||||
Perrigo Co. PLC | 3,104 | 125,277 | ||||||
Quest Diagnostics, Inc. | 25,525 | 2,950,435 |
Number | Value | |||||||
Health Care (Continued) | ||||||||
ResMed, Inc. | 27,492 | $ | 5,299,908 | |||||
STERIS PLC | 16,181 | 2,828,439 | ||||||
Teladoc Health, Inc.* (a) | 23,079 | 5,102,536 | ||||||
Varian Medical Systems, Inc.* | 17,043 | 2,987,126 | ||||||
Vertex Pharmaceuticals, Inc.* | 50,995 | 10,838,987 | ||||||
Waters Corp.* | 11,752 | 3,218,638 | ||||||
West Pharmaceutical Services, Inc. | 14,182 | 3,980,178 | ||||||
Zoetis, Inc. | 92,941 | 14,428,161 | ||||||
|
| |||||||
(Cost $367,914,450) | 414,356,615 | |||||||
|
| |||||||
Industrials — 9.1% | ||||||||
3M Co. | 112,010 | 19,608,471 | ||||||
Allegion PLC | 17,473 | 1,900,713 | ||||||
AMERCO | 1,882 | 1,081,623 | ||||||
C.H. Robinson Worldwide, Inc. | 25,714 | 2,336,117 | ||||||
Caterpillar, Inc. | 105,575 | 22,791,531 | ||||||
Copart, Inc.* | 40,474 | 4,418,142 | ||||||
CSX Corp. | 148,728 | 13,616,048 | ||||||
Cummins, Inc. | 29,103 | 7,368,880 | ||||||
Deere & Co. | 58,027 | 20,258,386 | ||||||
Delta Air Lines, Inc.* | 30,656 | 1,469,649 | ||||||
Dover Corp. | 27,571 | 3,398,401 | ||||||
Eaton Corp. PLC | 78,207 | 10,181,769 | ||||||
Expeditors International of Washington, Inc. | 32,123 | 2,950,176 | ||||||
Fastenal Co. | 114,019 | 5,287,061 | ||||||
Fortune Brands Home & Security, Inc. | 27,300 | 2,269,722 | ||||||
Howmet Aerospace, Inc.* | 74,939 | 2,106,535 | ||||||
IDEX Corp. | 14,425 | 2,815,327 | ||||||
IHS Markit Ltd. | 75,611 | 6,817,088 | ||||||
Illinois Tool Works, Inc. | 62,542 | 12,644,742 | ||||||
Johnson Controls International PLC | 140,751 | 7,852,498 | ||||||
Kansas City Southern | 18,370 | 3,900,686 | ||||||
Lennox International, Inc. | 6,727 | 1,882,013 | ||||||
Masco Corp. | 51,998 | 2,767,334 | ||||||
Norfolk Southern Corp. | 50,084 | 12,624,173 | ||||||
Owens Corning | 20,702 | 1,677,276 | ||||||
PACCAR, Inc. | 68,528 | 6,235,363 | ||||||
Parker-Hannifin Corp. | 25,313 | 7,263,818 | ||||||
Pentair PLC | 31,064 | 1,737,409 | ||||||
Robert Half International, Inc. | 21,887 | 1,702,590 | ||||||
Rockwell Automation, Inc. | 23,096 | 5,618,795 | ||||||
Roper Technologies, Inc. | 20,427 | 7,713,644 | ||||||
Snap-on, Inc. | 9,827 | 1,995,962 | ||||||
Stanley Black & Decker, Inc. | 31,080 | 5,434,027 | ||||||
Teledyne Technologies, Inc.* | 7,043 | 2,612,953 | ||||||
Trane Technologies PLC | 47,090 | 7,216,072 | ||||||
Union Pacific Corp. | 132,250 | 27,238,210 | ||||||
United Parcel Service, Inc., Class B | 139,516 | 22,019,810 | ||||||
United Rentals, Inc.* | 13,837 | 4,114,847 | ||||||
W.W. Grainger, Inc. | 8,849 | 3,298,111 | ||||||
Waste Management, Inc. | 82,342 | 9,130,904 | ||||||
Xylem, Inc. | 36,253 | 3,609,349 | ||||||
|
| |||||||
(Cost $221,823,804) | 290,966,225 | |||||||
|
| |||||||
Information Technology — 27.5% | ||||||||
Accenture PLC, Class A | 124,113 | 31,139,952 |
See Notes to Financial Statements. | 36 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI USA ESG Leaders Equity ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Information Technology (Continued) | ||||||||
Adobe, Inc.* | 93,405 | $ | 42,935,476 | |||||
Applied Materials, Inc. | 178,003 | 21,038,175 | ||||||
Autodesk, Inc.* | 42,718 | 11,790,168 | ||||||
Cadence Design Systems, Inc.* | 54,947 | 7,752,472 | ||||||
Cisco Systems, Inc. | 824,792 | 37,008,417 | ||||||
Citrix Systems, Inc. | 22,187 | 2,963,739 | ||||||
Cognex Corp. | 32,988 | 2,724,479 | ||||||
Hewlett Packard Enterprise Co. | 247,106 | 3,597,863 | ||||||
HP, Inc. | 269,884 | 7,818,539 | ||||||
Intel Corp. | 799,542 | 48,596,163 | ||||||
International Business Machines Corp. | 173,334 | 20,614,613 | ||||||
Intuit, Inc. | 50,814 | 19,824,574 | ||||||
Keysight Technologies, Inc.* | 35,459 | 5,018,158 | ||||||
Lam Research Corp. | 27,929 | 15,841,050 | ||||||
Mastercard, Inc., Class A | 173,279 | 61,314,774 | ||||||
Microsoft Corp. | 1,401,266 | 325,626,193 | ||||||
NVIDIA Corp. | 120,795 | 66,265,721 | ||||||
salesforce.com, Inc.* | 177,799 | 38,493,484 | ||||||
Texas Instruments, Inc. | 178,626 | 30,771,901 | ||||||
Trimble, Inc.* | 48,002 | 3,558,868 | ||||||
Visa, Inc., Class A | 330,684 | 70,233,975 | ||||||
VMware, Inc., Class A* (a) | 16,066 | 2,220,482 | ||||||
Western Union Co. | 76,811 | 1,783,551 | ||||||
|
| |||||||
(Cost $631,509,521) | 878,932,787 | |||||||
|
| |||||||
Materials — 2.9% | ||||||||
Amcor PLC | 304,258 | 3,328,582 | ||||||
Axalta Coating Systems Ltd.* | 40,474 | 1,106,559 | ||||||
Ball Corp. | 64,385 | 5,497,835 | ||||||
DuPont de Nemours, Inc. | 104,219 | 7,328,680 | ||||||
Ecolab, Inc. | 50,255 | 10,521,387 | ||||||
International Flavors & Fragrances, Inc. | 42,915 | 5,815,412 | ||||||
Linde PLC | 102,425 | 25,019,355 | ||||||
Mosaic Co. | 66,359 | 1,950,955 | ||||||
Newmont Corp. | 155,096 | 8,434,120 | ||||||
Nucor Corp. | 57,739 | 3,453,947 | ||||||
PPG Industries, Inc. | 46,399 | 6,255,513 | ||||||
Sherwin-Williams Co. | 16,081 | 10,940,548 | ||||||
Steel Dynamics, Inc. | 40,750 | 1,694,385 | ||||||
|
| |||||||
(Cost $74,369,435) | 91,347,278 | |||||||
|
| |||||||
Real Estate — 2.7% | ||||||||
Alexandria Real Estate Equities, Inc. REIT | 26,458 | 4,225,078 | ||||||
American Tower Corp. REIT | 87,208 | 18,848,265 | ||||||
Boston Properties, Inc. REIT | 28,025 | 2,778,118 | ||||||
CBRE Group, Inc., Class A* | 67,422 | 5,108,565 | ||||||
Equinix, Inc. REIT | 17,210 | 11,157,931 | ||||||
Equity Residential REIT | 71,073 | 4,648,885 | ||||||
Healthpeak Properties, Inc. REIT | 102,739 | 2,988,678 | ||||||
Host Hotels & Resorts, Inc. REIT | 145,944 | 2,421,211 | ||||||
Iron Mountain, Inc. REIT | 61,134 | 2,126,852 | ||||||
Prologis, Inc. REIT | 144,163 | 14,282,229 | ||||||
SBA Communications Corp. REIT | 21,468 | 5,477,131 | ||||||
UDR, Inc. REIT | 56,870 | 2,341,338 | ||||||
Welltower, Inc. REIT | 82,216 | 5,582,466 |
Number | Value | |||||||
Real Estate (Continued) | ||||||||
Weyerhaeuser Co. REIT | 142,474 | $ | 4,825,594 | |||||
|
| |||||||
(Cost $79,869,261) | 86,812,341 | |||||||
|
| |||||||
Utilities — 1.0% | ||||||||
American Water Works Co., Inc. | 34,617 | 4,911,460 | ||||||
Atmos Energy Corp. | 24,197 | 2,047,308 | ||||||
CenterPoint Energy, Inc. | 110,140 | 2,141,122 | ||||||
Consolidated Edison, Inc. | 65,997 | 4,332,703 | ||||||
Edison International | 72,072 | 3,891,167 | ||||||
Essential Utilities, Inc. | 46,225 | 1,944,223 | ||||||
Eversource Energy | 67,700 | 5,380,796 | ||||||
Sempra Energy | 55,870 | 6,479,803 | ||||||
UGI Corp. | 41,387 | 1,585,536 | ||||||
|
| |||||||
(Cost $34,997,240) | 32,714,118 | |||||||
|
| |||||||
TOTAL COMMON STOCKS | 3,188,910,702 | |||||||
|
| |||||||
SECURITIES LENDING COLLATERAL — 0.0% | ||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (b)(c) | 16,949 | 16,949 | ||||||
|
| |||||||
CASH EQUIVALENTS — 0.3% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (b) | 9,043,407 | 9,043,407 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 100.0% (Cost $2,494,712,277) | $ | 3,197,971,058 | ||||||
Other assets and liabilities, net — 0.0% | (9,271 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 3,197,961,787 | ||||||
|
|
See Notes to Financial Statements. | 37 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI USA ESG Leaders Equity ETF (Continued)
February 28, 2021 (Unaudited)
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2021 is as follows:
Value ($) at 8/31/2020 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2021 | Value ($) at 2/28/2021 | ||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 0.0% |
| |||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (b)(c) |
| |||||||||||||||||||||||||||||||||||
95,593 | — | (78,644 | ) (d) | — | 171 | — | 16,949 | 16,949 | ||||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.3% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (b) |
| |||||||||||||||||||||||||||||||||||
2,101,479 | 40,712,804 | (33,770,876 | ) | — | — | 753 | — | 9,043,407 | 9,043,407 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
2,197,072 | 40,712,804 | (33,849,520 | ) | — | — | 924 | — | 9,060,356 | 9,060,356 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* | 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, 2021 amounted to $17,182,398, which is 0.5% 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 $17,796,449. |
(d) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2021. |
REIT: | Real Estate Investment Trust |
At February 28, 2021, open futures contracts purchased were as follows:
Contract Description | Currency | Number of Contracts | Notional Amount | Contract Value | Expiration Date | Unrealized Appreciation (Depreciation) | ||||||||||||
E-Mini S&P MidCap 400 Futures | USD | 2 | $ | 446,600 | $ | 498,940 | 3/19/2021 | $ | 52,340 | |||||||||
E-Mini S&P 500 Futures | USD | 4 | 728,020 | 761,840 | 3/19/2021 | 33,820 | ||||||||||||
E-Mini S&P 500 ESG Futures | USD | 40 | 6,556,100 | 6,461,600 | 3/19/2021 | (94,500 | ) | |||||||||||
|
| |||||||||||||||||
Total net unrealized depreciation | $ | (8,340 | ) | |||||||||||||||
|
|
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. | 38 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI USA ESG Leaders Equity ETF (Continued)
February 28, 2021 (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, 2021 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) | $ | 3,188,910,702 | $ | — | $ | — | $ | 3,188,910,702 | ||||||||
Short-Term Investments (e) | 9,060,356 | — | — | 9,060,356 | ||||||||||||
Derivatives (f) | ||||||||||||||||
Futures Contracts | 86,160 | — | — | 86,160 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 3,198,057,218 | $ | — | $ | — | $ | 3,198,057,218 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liabilities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Derivatives (f) | ||||||||||||||||
Futures Contracts | $ | (94,500 | ) | $ | — | $ | — | $ | (94,500 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | (94,500 | ) | $ | — | $ | — | $ | (94,500 | ) | ||||||
|
|
|
|
|
|
|
|
(e) | See Schedule of Investments for additional detailed categorizations. |
(f) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
See Notes to Financial Statements. | 39 |
DBX ETF Trust
Schedule of Investments
Number | Value | |||||||
COMMON STOCKS — 99.8% | ||||||||
Communication Services — 11.2% | ||||||||
Activision Blizzard, Inc. | 15,765 | $ | 1,507,292 | |||||
Alphabet, Inc., Class A* | 6,168 | 12,471,141 | ||||||
Alphabet, Inc., Class C* | 5,980 | 12,180,423 | ||||||
AT&T, Inc. | 146,059 | 4,073,585 | ||||||
Comcast Corp., Class A | 93,854 | 4,947,983 | ||||||
Electronic Arts, Inc. | 5,977 | 800,739 | ||||||
Facebook, Inc., Class A* | 49,395 | 12,725,140 | ||||||
Lumen Technologies, Inc. | 20,793 | 255,546 | ||||||
Take-Two Interactive Software, Inc.* | 2,336 | 430,898 | ||||||
Verizon Communications, Inc. | 84,908 | 4,695,412 | ||||||
|
| |||||||
(Cost $46,888,048) | 54,088,159 | |||||||
|
| |||||||
Consumer Discretionary — 11.8% | ||||||||
Amazon.com, Inc.* | 8,755 | 27,078,602 | ||||||
Aptiv PLC* | 5,507 | 825,169 | ||||||
Best Buy Co., Inc. | 4,672 | 468,835 | ||||||
BorgWarner, Inc. | 5,062 | 227,790 | ||||||
eBay, Inc. | 13,475 | 760,260 | ||||||
Gap, Inc.* | 4,255 | 106,162 | ||||||
General Motors Co. | 25,816 | 1,325,135 | ||||||
Hanesbrands, Inc. | 7,408 | 131,048 | ||||||
Hasbro, Inc. | 2,606 | 244,208 | ||||||
Hilton Worldwide Holdings, Inc.* | 5,718 | 707,202 | ||||||
Home Depot, Inc. | 22,142 | 5,720,164 | ||||||
L Brands, Inc.* | 4,880 | 266,741 | ||||||
Las Vegas Sands Corp. | 6,698 | 419,295 | ||||||
Leggett & Platt, Inc. | 2,799 | 121,113 | ||||||
Lowe’s Cos., Inc. | 15,051 | 2,404,397 | ||||||
McDonald’s Corp. | 15,256 | 3,144,872 | ||||||
MGM Resorts International | 8,382 | 316,756 | ||||||
Newell Brands, Inc. | 7,496 | 173,682 | ||||||
NIKE, Inc., Class B | 25,811 | 3,478,807 | ||||||
PulteGroup, Inc. | 5,711 | 257,623 | ||||||
PVH Corp. | 1,460 | 145,942 | ||||||
Ralph Lauren Corp. | 918 | 107,479 | ||||||
Royal Caribbean Cruises Ltd. | 3,818 | 356,105 | ||||||
Starbucks Corp. | 24,055 | 2,598,662 | ||||||
Tapestry, Inc. | 5,945 | 250,522 | ||||||
Target Corp. | 10,305 | 1,890,349 | ||||||
TJX Cos., Inc. | 24,538 | 1,619,263 | ||||||
Under Armour, Inc., Class A* | 3,815 | 83,510 | ||||||
Under Armour, Inc., Class C* | 3,644 | 66,321 | ||||||
VF Corp. | 6,644 | 525,740 | ||||||
Whirlpool Corp. | 1,355 | 257,558 | ||||||
Yum! Brands, Inc. | 6,234 | 645,406 | ||||||
|
| |||||||
(Cost $49,454,279) | 56,724,718 | |||||||
|
| |||||||
Consumer Staples — 5.7% | ||||||||
Archer-Daniels-Midland Co. | 11,453 | 648,011 | ||||||
Brown-Forman Corp., Class B | 3,784 | 270,859 | ||||||
Campbell Soup Co. | 4,254 | 193,472 | ||||||
Coca-Cola Co. | 79,255 | 3,882,702 | ||||||
Colgate-Palmolive Co. | 17,565 | 1,320,888 | ||||||
Conagra Brands, Inc. | 10,056 | 341,200 | ||||||
Constellation Brands, Inc., Class A | 3,453 | 739,425 | ||||||
Costco Wholesale Corp. | 9,020 | 2,985,620 |
Number | Value | |||||||
Consumer Staples (Continued) | ||||||||
General Mills, Inc. | 12,718 | $ | 699,617 | |||||
Hershey Co. | 3,114 | 453,554 | ||||||
Hormel Foods Corp. | 5,548 | 257,261 | ||||||
J M Smucker Co. | 2,336 | 261,632 | ||||||
Kellogg Co. | 5,225 | 301,535 | ||||||
Kraft Heinz Co. | 13,496 | 490,985 | ||||||
Kroger Co. | 16,066 | 517,486 | ||||||
McCormick & Co., Inc. | 5,174 | 436,065 | ||||||
Molson Coors Beverage Co., Class B | 3,796 | 168,732 | ||||||
Mondelez International, Inc., Class A | 29,361 | 1,560,831 | ||||||
PepsiCo, Inc. | 28,476 | 3,678,814 | ||||||
Procter & Gamble Co. | 50,974 | 6,296,818 | ||||||
Sysco Corp. | 10,584 | 842,804 | ||||||
Tyson Foods, Inc., Class A | 6,143 | 415,697 | ||||||
Walgreens Boots Alliance, Inc. | 14,724 | 705,721 | ||||||
|
| |||||||
(Cost $27,724,126) | 27,469,729 | |||||||
|
| |||||||
Energy — 2.9% | ||||||||
Apache Corp. | 7,546 | 148,883 | ||||||
Baker Hughes Co. | 13,520 | 330,970 | ||||||
Chevron Corp. | 39,546 | 3,954,600 | ||||||
ConocoPhillips | 27,743 | 1,442,913 | ||||||
Exxon Mobil Corp. | 86,527 | 4,704,473 | ||||||
Halliburton Co. | 18,745 | 409,203 | ||||||
Hess Corp. | 5,644 | 369,851 | ||||||
Kinder Morgan, Inc. | 40,505 | 595,424 | ||||||
Marathon Oil Corp. | 15,754 | 174,869 | ||||||
Occidental Petroleum Corp. | 17,516 | 466,101 | ||||||
ONEOK, Inc. | 8,965 | 397,060 | ||||||
Schlumberger N.V. | 28,518 | 795,937 | ||||||
|
| |||||||
(Cost $12,448,745) | 13,790,284 | |||||||
|
| |||||||
Financials — 11.4% | ||||||||
Aflac, Inc. | 13,607 | 651,639 | ||||||
Allstate Corp. | 6,264 | 667,742 | ||||||
American Express Co. | 13,532 | 1,830,338 | ||||||
American International Group, Inc. | 17,928 | 787,936 | ||||||
Ameriprise Financial, Inc. | 2,449 | 541,817 | ||||||
Aon PLC, Class A (a) | 4,669 | 1,063,178 | ||||||
Assurant, Inc. | 1,146 | 141,210 | ||||||
Bank of America Corp. | 156,259 | 5,423,750 | ||||||
Bank of New York Mellon Corp. | 16,721 | 704,957 | ||||||
BlackRock, Inc. | 2,897 | 2,011,967 | ||||||
Capital One Financial Corp. | 9,462 | 1,137,238 | ||||||
Cboe Global Markets, Inc. | 2,336 | 231,171 | ||||||
Charles Schwab Corp. | 30,467 | 1,880,423 | ||||||
Chubb Ltd. | 9,212 | 1,497,687 | ||||||
Citigroup, Inc. | 42,816 | 2,820,718 | ||||||
CME Group, Inc. | 7,434 | 1,484,570 | ||||||
Comerica, Inc. | 2,863 | 194,970 | ||||||
Discover Financial Services | 6,307 | 593,299 | ||||||
Franklin Resources, Inc. (a) | 5,946 | 155,607 | ||||||
Globe Life, Inc. | 2,044 | 190,910 | ||||||
Goldman Sachs Group, Inc. | 7,093 | 2,266,072 | ||||||
Hartford Financial Services Group, Inc. | 7,408 | 375,512 | ||||||
Intercontinental Exchange, Inc. | 11,536 | 1,272,536 | ||||||
Invesco Ltd. | 7,992 | 179,181 |
See Notes to Financial Statements. | 40 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P 500 ESG ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Financials (Continued) | ||||||||
JPMorgan Chase & Co. | 62,577 | $ | 9,209,457 | |||||
Lincoln National Corp. | 3,734 | 212,353 | ||||||
MarketAxess Holdings, Inc. | 809 | 449,755 | ||||||
Marsh & McLennan Cos., Inc. | 10,411 | 1,199,555 | ||||||
MetLife, Inc. | 15,743 | 906,797 | ||||||
Moody’s Corp. | 3,331 | 915,659 | ||||||
Morgan Stanley | 30,838 | 2,370,517 | ||||||
MSCI, Inc. | 1,697 | 703,440 | ||||||
Nasdaq, Inc. | 2,336 | 323,045 | ||||||
Northern Trust Corp. | 4,380 | 416,669 | ||||||
PNC Financial Services Group, Inc. | 8,700 | 1,464,732 | ||||||
Principal Financial Group, Inc. | 5,256 | 297,384 | ||||||
Prudential Financial, Inc. | 8,284 | 718,388 | ||||||
Raymond James Financial, Inc. | 2,609 | 304,575 | ||||||
S&P Global, Inc. | 4,936 | 1,625,721 | ||||||
State Street Corp. | 7,413 | 539,444 | ||||||
Synchrony Financial | 11,163 | 431,785 | ||||||
T. Rowe Price Group, Inc. | 4,684 | 759,464 | ||||||
Travelers Cos., Inc. | 5,246 | 763,293 | ||||||
Unum Group | 4,088 | 108,250 | ||||||
Wells Fargo & Co. | 84,727 | 3,064,576 | ||||||
|
| |||||||
(Cost $44,573,759) | 54,889,287 | |||||||
|
| |||||||
Health Care — 13.3% | ||||||||
Abbott Laboratories | 36,299 | 4,347,894 | ||||||
AbbVie, Inc. | 36,266 | 3,907,299 | ||||||
Agilent Technologies, Inc. | 6,320 | 771,482 | ||||||
Alexion Pharmaceuticals, Inc.* | 4,394 | 671,183 | ||||||
AmerisourceBergen Corp. | 2,938 | 297,384 | ||||||
Amgen, Inc. | 11,987 | 2,696,116 | ||||||
Anthem, Inc. | 5,124 | 1,553,546 | ||||||
Baxter International, Inc. | 10,576 | 821,649 | ||||||
Becton Dickinson and Co. | 5,979 | 1,441,836 | ||||||
Biogen, Inc.* | 3,218 | 878,128 | ||||||
Boston Scientific Corp.* | 29,219 | 1,133,113 | ||||||
Bristol-Myers Squibb Co. | 46,269 | 2,837,678 | ||||||
Cardinal Health, Inc. | 5,834 | 300,568 | ||||||
Cigna Corp. | 7,436 | 1,560,816 | ||||||
CVS Health Corp. | 26,830 | 1,827,928 | ||||||
Danaher Corp. | 12,951 | 2,844,946 | ||||||
DaVita, Inc.* (a) | 1,508 | 154,012 | ||||||
Edwards Lifesciences Corp.* | 12,702 | 1,055,536 | ||||||
Eli Lilly and Co. | 16,359 | 3,351,796 | ||||||
Gilead Sciences, Inc. | 25,715 | 1,578,901 | ||||||
Henry Schein, Inc.* | 2,920 | 180,602 | ||||||
Humana, Inc. | 2,695 | 1,023,157 | ||||||
IDEXX Laboratories, Inc.* | 1,741 | 905,616 | ||||||
Illumina, Inc.* | 2,990 | 1,313,836 | ||||||
Incyte Corp.* | 3,771 | 296,627 | ||||||
Laboratory Corp. of America Holdings* | 2,036 | 488,457 | ||||||
McKesson Corp. | 3,376 | 572,300 | ||||||
Medtronic PLC | 27,671 | 3,236,677 | ||||||
Merck & Co., Inc. | 51,875 | 3,767,163 | ||||||
Mettler-Toledo International, Inc.* | 503 | 561,373 | ||||||
PerkinElmer, Inc. | 2,317 | 292,151 | ||||||
Perrigo Co. PLC | 2,793 | 112,725 | ||||||
Pfizer, Inc. | 113,915 | 3,815,013 |
Number | Value | |||||||
Health Care (Continued) | ||||||||
Quest Diagnostics, Inc. | 2,649 | $ | 306,198 | |||||
Regeneron Pharmaceuticals, Inc.* | 2,169 | 977,286 | ||||||
Thermo Fisher Scientific, Inc. | 8,116 | 3,652,849 | ||||||
UnitedHealth Group, Inc. | 19,547 | 6,493,904 | ||||||
Varian Medical Systems, Inc.* | 1,919 | 336,343 | ||||||
Vertex Pharmaceuticals, Inc.* | 5,389 | 1,145,432 | ||||||
Waters Corp.* | 1,218 | 333,586 | ||||||
|
| |||||||
(Cost $59,796,829) | 63,843,106 | |||||||
|
| |||||||
Industrials — 7.4% | ||||||||
A O Smith Corp. | 2,842 | 168,730 | ||||||
Alaska Air Group, Inc.* | 2,582 | 167,882 | ||||||
Allegion PLC | 1,954 | 212,556 | ||||||
American Airlines Group, Inc.* (a) | 12,565 | 263,111 | ||||||
AMETEK, Inc. | 4,826 | 569,323 | ||||||
Caterpillar, Inc. | 11,192 | 2,416,129 | ||||||
Cintas Corp. | 1,778 | 576,677 | ||||||
CSX Corp. | 15,615 | 1,429,553 | ||||||
Cummins, Inc. | 3,068 | 776,818 | ||||||
Deere & Co. | 6,426 | 2,243,445 | ||||||
Delta Air Lines, Inc.* | 13,278 | 636,547 | ||||||
Dover Corp. | 2,920 | 359,919 | ||||||
Eaton Corp. PLC | 8,333 | 1,084,873 | ||||||
Emerson Electric Co. | 12,366 | 1,062,239 | ||||||
Expeditors International of Washington, Inc. | 3,504 | 321,807 | ||||||
Fastenal Co. | 11,736 | 544,198 | ||||||
FedEx Corp. | 4,940 | 1,257,230 | ||||||
Flowserve Corp. | 2,628 | 97,236 | ||||||
Fortive Corp. | 6,926 | 455,869 | ||||||
Fortune Brands Home & Security, Inc. | 2,865 | 238,196 | ||||||
General Electric Co. | 178,677 | 2,240,610 | ||||||
Howmet Aerospace, Inc.* | 7,960 | 223,756 | ||||||
IDEX Corp. | 1,533 | 299,196 | ||||||
IHS Markit Ltd. | 7,502 | 676,380 | ||||||
Illinois Tool Works, Inc. | 5,843 | 1,181,338 | ||||||
Johnson Controls International PLC | 15,218 | 849,012 | ||||||
L3Harris Technologies, Inc. | 4,320 | 785,851 | ||||||
Nielsen Holdings PLC | 7,408 | 166,013 | ||||||
Norfolk Southern Corp. | 5,201 | 1,310,964 | ||||||
PACCAR, Inc. | 7,116 | 647,485 | ||||||
Parker-Hannifin Corp. | 2,631 | 754,992 | ||||||
Pentair PLC | 3,454 | 193,182 | ||||||
Republic Services, Inc. | 4,380 | 390,214 | ||||||
Rockwell Automation, Inc. | 2,371 | 576,817 | ||||||
Roper Technologies, Inc. | 2,185 | 825,100 | ||||||
Snap-on, Inc. | 1,168 | 237,233 | ||||||
Stanley Black & Decker, Inc. | 3,192 | 558,089 | ||||||
Trane Technologies PLC | 4,959 | 759,917 | ||||||
Union Pacific Corp. | 13,888 | 2,860,373 | ||||||
United Parcel Service, Inc., Class B | 14,621 | 2,307,632 | ||||||
United Rentals, Inc.* | 1,470 | 437,149 | ||||||
Verisk Analytics, Inc. | 3,360 | 550,536 | ||||||
W.W. Grainger, Inc. | 910 | 339,166 | ||||||
Waste Management, Inc. | 8,078 | 895,769 | ||||||
Westinghouse Air Brake Technologies Corp. | 3,785 | 274,148 |
See Notes to Financial Statements. | 41 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P 500 ESG ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Industrials (Continued) | ||||||||
Xylem, Inc. | 3,777 | $ | 376,038 | |||||
|
| |||||||
(Cost $29,151,063) | 35,599,298 | |||||||
|
| |||||||
Information Technology — 29.2% | ||||||||
Accenture PLC, Class A | 13,031 | 3,269,478 | ||||||
Adobe, Inc.* | 9,827 | 4,517,177 | ||||||
Advanced Micro Devices, Inc.* | 24,729 | 2,089,848 | ||||||
Akamai Technologies, Inc.* | 3,414 | 322,623 | ||||||
ANSYS, Inc.* | 1,752 | 597,414 | ||||||
Apple, Inc. | 328,491 | 39,832,819 | ||||||
Arista Networks, Inc.* | 1,138 | 318,458 | ||||||
Autodesk, Inc.* | 4,522 | 1,248,072 | ||||||
Cisco Systems, Inc. | 86,687 | 3,889,646 | ||||||
Corning, Inc. | 15,832 | 605,416 | ||||||
DXC Technology Co. | 5,331 | 134,448 | ||||||
Hewlett Packard Enterprise Co. | 26,781 | 389,931 | ||||||
HP, Inc. | 28,217 | 817,446 | ||||||
Intel Corp. | 84,229 | 5,119,439 | ||||||
Intuit, Inc. | 5,415 | 2,112,608 | ||||||
Juniper Networks, Inc. | 7,116 | 165,660 | ||||||
Keysight Technologies, Inc.* | 3,796 | 537,210 | ||||||
KLA Corp. | 3,212 | 999,671 | ||||||
Lam Research Corp. | 2,954 | 1,675,479 | ||||||
Mastercard, Inc., Class A | 18,094 | 6,402,562 | ||||||
Micron Technology, Inc.* | 22,705 | 2,078,189 | ||||||
Microsoft Corp. | 155,389 | 36,109,296 | ||||||
Motorola Solutions, Inc. | 3,507 | 615,408 | ||||||
NortonLifeLock, Inc. | 11,777 | 229,769 | ||||||
NVIDIA Corp. | 12,716 | 6,975,743 | ||||||
QUALCOMM, Inc. | 23,254 | 3,166,962 | ||||||
salesforce.com, Inc.* | 18,795 | 4,069,118 | ||||||
Seagate Technology PLC | 4,395 | 321,846 | ||||||
TE Connectivity Ltd. | 6,830 | 888,105 | ||||||
Texas Instruments, Inc. | 18,778 | 3,234,886 | ||||||
Visa, Inc., Class A (a) | 34,855 | 7,402,853 | ||||||
Xerox Holdings Corp. | 3,796 | 96,722 | ||||||
|
| |||||||
(Cost $116,854,110) | 140,234,302 | |||||||
|
| |||||||
Materials — 2.8% | ||||||||
Air Products and Chemicals, Inc. | 4,557 | 1,164,860 | ||||||
Ball Corp. | 6,824 | 582,701 | ||||||
CF Industries Holdings, Inc. | 4,380 | 198,326 | ||||||
Corteva, Inc. | 15,564 | 702,715 | ||||||
Eastman Chemical Co. | 2,628 | 287,135 | ||||||
Ecolab, Inc. | 5,140 | 1,076,110 | ||||||
FMC Corp. | 2,628 | 267,241 | ||||||
Freeport-McMoRan, Inc.* | 30,272 | 1,026,524 | ||||||
International Flavors & Fragrances, Inc. | 5,113 | 692,863 | ||||||
International Paper Co. | 8,138 | 404,052 | ||||||
Linde PLC | 10,728 | 2,620,529 | ||||||
LyondellBasell Industries NV, Class A | 5,256 | 541,841 | ||||||
Martin Marietta Materials, Inc. | 1,356 | 456,796 | ||||||
Mosaic Co. | 7,122 | 209,387 | ||||||
Newmont Corp. | 16,386 | 891,071 | ||||||
Nucor Corp. | 6,073 | 363,287 | ||||||
Packaging Corp. of America | 1,965 | 259,419 | ||||||
PPG Industries, Inc. | 4,911 | 662,101 |
Number | Value | |||||||
Materials (Continued) | ||||||||
Sealed Air Corp. | 2,939 | $ | 123,144 | |||||
Vulcan Materials Co. | 2,800 | 467,572 | ||||||
Westrock Co. | 5,434 | 236,868 | ||||||
|
| |||||||
(Cost $11,363,857) | 13,234,542 | |||||||
|
| |||||||
Real Estate — 2.5% | ||||||||
Alexandria Real Estate Equities, Inc. REIT (a) | 2,548 | 406,890 | ||||||
American Tower Corp. REIT | 9,175 | 1,982,993 | ||||||
AvalonBay Communities, Inc. REIT | 2,913 | 511,960 | ||||||
Boston Properties, Inc. REIT | 2,922 | 289,658 | ||||||
CBRE Group, Inc., Class A* | 6,987 | 529,405 | ||||||
Digital Realty Trust, Inc. REIT | 5,757 | 775,641 | ||||||
Duke Realty Corp. REIT | 7,696 | 302,068 | ||||||
Equinix, Inc. REIT | 1,822 | 1,181,275 | ||||||
Equity Residential REIT | 7,157 | 468,139 | ||||||
Essex Property Trust, Inc. REIT | 1,394 | 355,177 | ||||||
Healthpeak Properties, Inc. REIT | 10,978 | 319,350 | ||||||
Host Hotels & Resorts, Inc. REIT | 14,701 | 243,890 | ||||||
Iron Mountain, Inc. REIT | 6,009 | 209,053 | ||||||
Kimco Realty Corp. REIT | 8,284 | 151,846 | ||||||
Prologis, Inc. REIT | 15,201 | 1,505,963 | ||||||
Regency Centers Corp. REIT | 3,211 | 175,899 | ||||||
Simon Property Group, Inc. REIT | 6,723 | 759,161 | ||||||
SL Green Realty Corp. REIT (a) | 1,473 | 101,740 | ||||||
UDR, Inc. REIT | 6,108 | 251,466 | ||||||
Ventas, Inc. REIT | 7,737 | 409,287 | ||||||
Vornado Realty Trust REIT | 3,201 | 137,451 | ||||||
Welltower, Inc. REIT | 8,571 | 581,971 | ||||||
Weyerhaeuser Co. REIT | 15,533 | 526,103 | ||||||
|
| |||||||
(Cost $11,910,826) | 12,176,386 | |||||||
|
| |||||||
Utilities — 1.6% | ||||||||
American Water Works Co., Inc. | 3,758 | 533,185 | ||||||
Atmos Energy Corp. | 2,586 | 218,802 | ||||||
CenterPoint Energy, Inc. | 10,996 | 213,762 | ||||||
Consolidated Edison, Inc. | 7,043 | 462,373 | ||||||
Edison International | 7,571 | 408,758 | ||||||
Entergy Corp. | 4,062 | 352,622 | ||||||
Eversource Energy | 7,151 | �� | 568,362 | |||||
Exelon Corp. | 20,224 | 780,646 | ||||||
NextEra Energy, Inc. | 40,306 | 2,961,685 | ||||||
Public Service Enterprise Group, Inc. | 10,594 | 570,275 | ||||||
Sempra Energy | 5,971 | 692,517 | ||||||
|
| |||||||
(Cost $7,886,793) | 7,762,987 | |||||||
|
| |||||||
TOTAL COMMON STOCKS | 479,812,798 | |||||||
|
| |||||||
SECURITIES LENDING COLLATERAL — 0.0% | ||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (b)(c) | 14,598 | 14,598 | ||||||
|
|
See Notes to Financial Statements. | 42 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P 500 ESG ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
CASH EQUIVALENTS — 0.1% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (b) | 679,873 | $ | 679,873 | |||||
|
| |||||||
TOTAL INVESTMENTS — 99.9% (Cost $418,746,906) | $ | 480,507,269 | ||||||
Other assets and liabilities, net — 0.1% | 478,184 | |||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 480,985,453 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2021 is as follows:
Value ($) at 8/31/2020 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2021 | Value ($) at 2/28/2021 | ||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 0.0% |
| |||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (b)(c) |
| |||||||||||||||||||||||||||||||||||
84,196 | — | (69,598 | ) (d) | — | — | 14 | — | 14,598 | 14,598 | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.1% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (b) |
| |||||||||||||||||||||||||||||||||||
344,797 | 4,590,604 | (4,255,528 | ) | — | — | 117 | — | 679,873 | 679,873 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
428,993 | 4,590,604 | (4,325,126 | ) | — | — | 131 | — | 694,471 | 694,471 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* | 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, 2021 amounted to $8,850,398, which is 1.8% 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 $9,082,539. |
(d) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2021. |
REIT: | Real Estate Investment Trust |
At February 28, 2021, open futures contracts purchased were as follows:
Contract Description | Currency | Number of Contracts | Notional Amount | Contract Value | Expiration Date | Unrealized Appreciation | ||||||||||||
E-Mini S&P 500 ESG Futures | USD | 7 | $ | 1,116,365 | $ | 1,130,780 | 3/19/2021 | $ | 14,415 |
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 S&P 500 ESG ETF (Continued)
February 28, 2021 (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, 2021 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) | $ | 479,812,798 | $ | — | $ | — | $ | 479,812,798 | ||||||||
Short-Term Investments (e) | 694,471 | — | — | 694,471 | ||||||||||||
Derivatives (f) | ||||||||||||||||
Futures Contracts | 14,415 | — | — | 14,415 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 480,521,684 | $ | — | $ | — | $ | 480,521,684 | ||||||||
|
|
|
|
|
|
|
|
(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
Xtrackers S&P MidCap 400 ESG ETF
Number | Value | |||||||
COMMON STOCKS — 99.9% | ||||||||
Communication Services — 2.1% | ||||||||
Cable One, Inc. | 35 | $ | 67,020 | |||||
John Wiley & Sons, Inc., Class A | 285 | 15,014 | ||||||
New York Times Co., Class A | 955 | 48,867 | ||||||
TEGNA, Inc. | 1,440 | 26,251 | ||||||
TripAdvisor, Inc.* | 627 | 31,112 | ||||||
Yelp, Inc.* | 455 | 17,158 | ||||||
|
| |||||||
(Cost $209,003) | 205,422 | |||||||
|
| |||||||
Consumer Discretionary — 14.8% | ||||||||
Adtalem Global Education, Inc.* | 344 | 13,519 | ||||||
American Eagle Outfitters, Inc. | 975 | 25,058 | ||||||
AutoNation, Inc.* | 388 | 29,108 | ||||||
Boyd Gaming Corp.* | 530 | 31,111 | ||||||
Brunswick Corp. | 514 | 45,422 | ||||||
Carter’s, Inc. | 287 | 23,956 | ||||||
Churchill Downs, Inc. | 229 | 52,814 | ||||||
Columbia Sportswear Co. | 197 | 20,305 | ||||||
Cracker Barrel Old Country Store, Inc. | 157 | 24,315 | ||||||
Dana, Inc.* | 954 | 22,715 | ||||||
Deckers Outdoor Corp.* | 181 | 59,026 | ||||||
Dick’s Sporting Goods, Inc. | 431 | 30,760 | ||||||
Foot Locker, Inc. | 693 | 33,326 | ||||||
Gentex Corp. | 1,627 | 57,563 | ||||||
Goodyear Tire & Rubber Co.* | 1,523 | 25,602 | ||||||
Graham Holdings Co., Class B | 26 | 15,622 | ||||||
Grand Canyon Education, Inc.* | 302 | 31,616 | ||||||
Grubhub, Inc.* | 613 | 39,275 | ||||||
Harley-Davidson, Inc. | 1,006 | 35,884 | ||||||
KB Home | 584 | 23,582 | ||||||
Lear Corp. | 361 | 59,958 | ||||||
Mattel, Inc.* | 2,325 | 46,965 | ||||||
Murphy USA, Inc. | 172 | 21,440 | ||||||
Nordstrom, Inc. | 707 | 25,770 | ||||||
Penn National Gaming, Inc.* | 965 | 111,728 | ||||||
Polaris, Inc. | 377 | 44,396 | ||||||
RH* | 99 | 48,547 | ||||||
Scientific Games Corp.* | 378 | 17,702 | ||||||
Service Corp. International | 1,147 | 54,781 | ||||||
Skechers U.S.A., Inc., Class A* | 885 | 32,391 | ||||||
Strategic Education, Inc. | 157 | 14,274 | ||||||
Tempur Sealy International, Inc. | 1,276 | 42,631 | ||||||
Texas Roadhouse, Inc. | 425 | 38,624 | ||||||
Toll Brothers, Inc. | 755 | 40,332 | ||||||
Travel + Leisure Co. | 558 | 33,720 | ||||||
Tri Pointe Homes, Inc.* | 811 | 15,409 | ||||||
Urban Outfitters, Inc.* | 427 | 14,475 | ||||||
Visteon Corp.* | 184 | 23,399 | ||||||
Wendy’s Co. | 1,188 | 24,271 | ||||||
Williams-Sonoma, Inc. | 490 | 64,332 | ||||||
WW International, Inc.* | 311 | 9,171 | ||||||
Wyndham Hotels & Resorts, Inc. | 601 | 39,233 | ||||||
|
| |||||||
(Cost $1,481,855) | 1,464,128 | |||||||
|
| |||||||
Consumer Staples — 3.7% | ||||||||
BJ’s Wholesale Club Holdings, Inc.* | 894 | 35,921 | ||||||
Boston Beer Co., Inc., Class A* | 60 | 61,723 |
Number | Value | |||||||
Consumer Staples (Continued) | ||||||||
Darling Ingredients, Inc.* | 1,056 | $ | 66,570 | |||||
Edgewell Personal Care Co. | 355 | 10,859 | ||||||
Flowers Foods, Inc. | 1,325 | 28,819 | ||||||
Hain Celestial Group, Inc.* | 541 | 22,819 | ||||||
Ingredion, Inc. | 431 | 38,876 | ||||||
Nu Skin Enterprises, Inc., Class A | 325 | 16,634 | ||||||
Pilgrim’s Pride Corp.* | 317 | 7,098 | ||||||
Post Holdings, Inc.* | 401 | 38,520 | ||||||
Sanderson Farms, Inc. | 128 | 19,520 | ||||||
Sprouts Farmers Market, Inc.* | 762 | 16,086 | ||||||
|
| |||||||
(Cost $370,864) | 363,445 | |||||||
|
| |||||||
Energy — 1.7% | ||||||||
ChampionX Corp.* | 1,241 | 26,396 | ||||||
Cimarex Energy Co. | 663 | 38,448 | ||||||
CNX Resources Corp.* | 1,518 | 19,142 | ||||||
EQT Corp.* | 1,846 | 32,840 | ||||||
Equitrans Midstream Corp. | 2,735 | 19,774 | ||||||
Murphy Oil Corp. | 916 | 14,958 | ||||||
World Fuel Services Corp. | 421 | 13,085 | ||||||
|
| |||||||
(Cost $163,746) | 164,643 | |||||||
|
| |||||||
Financials — 15.4% | ||||||||
Affiliated Managers Group, Inc. | 294 | 41,151 | ||||||
Associated Banc-Corp. | 1,004 | 20,231 | ||||||
BancorpSouth Bank | 637 | 19,148 | ||||||
Bank of Hawaii Corp. | 257 | 22,487 | ||||||
Bank OZK | 790 | 32,564 | ||||||
Brighthouse Financial, Inc.* | 591 | 23,575 | ||||||
Cathay General Bancorp | 482 | 18,142 | ||||||
CIT Group, Inc. | 634 | 28,752 | ||||||
Commerce Bancshares, Inc. | 700 | 51,821 | ||||||
East West Bancorp, Inc. | 918 | 66,243 | ||||||
Essent Group Ltd. | 735 | 30,304 | ||||||
Evercore, Inc., Class A | 261 | 31,260 | ||||||
FactSet Research Systems, Inc. | 249 | 75,674 | ||||||
Federated Hermes, Inc. | 626 | 16,727 | ||||||
First American Financial Corp. | 727 | 38,197 | ||||||
First Horizon Corp. | 3,700 | 59,940 | ||||||
FNB Corp. | 2,123 | 25,115 | ||||||
Fulton Financial Corp. | 1,100 | 16,995 | ||||||
Genworth Financial, Inc., Class A* | 3,458 | 10,789 | ||||||
Hancock Whitney Corp. | 557 | 21,027 | ||||||
Interactive Brokers Group, Inc., Class A | 533 | 38,584 | ||||||
Janus Henderson Group PLC | 1,132 | 33,088 | ||||||
Navient Corp. | 1,239 | 15,339 | ||||||
New York Community Bancorp, Inc. | 3,100 | 37,851 | ||||||
PacWest Bancorp | 750 | 27,180 | ||||||
Pinnacle Financial Partners, Inc. | 490 | 39,773 | ||||||
Primerica, Inc. | 255 | 36,014 | ||||||
PROG Holdings, Inc. | 443 | 22,150 | ||||||
Prosperity Bancshares, Inc. | 607 | 44,596 | ||||||
Reinsurance Group of America, Inc. | 442 | 54,026 | ||||||
RenaissanceRe Holdings Ltd. | 326 | 54,435 | ||||||
SEI Investments Co. | 775 | 43,400 | ||||||
Signature Bank | 373 | 81,441 | ||||||
SLM Corp. | 2,480 | 39,159 |
See Notes to Financial Statements. | 45 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P MidCap 400 ESG ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Financials (Continued) | ||||||||
Sterling Bancorp | 1,287 | $ | 28,095 | |||||
Stifel Financial Corp. | 671 | 40,985 | ||||||
Synovus Financial Corp. | 965 | 40,829 | ||||||
TCF Financial Corp. | 986 | 44,192 | ||||||
Texas Capital Bancshares, Inc.* | 330 | 25,146 | ||||||
Trustmark Corp. | 408 | 12,305 | ||||||
UMB Financial Corp. | 289 | 24,383 | ||||||
Umpqua Holdings Corp. | 1,444 | 24,649 | ||||||
Webster Financial Corp. | 583 | 32,246 | ||||||
Wintrust Financial Corp. | 382 | 28,138 | ||||||
|
| |||||||
(Cost $1,538,314) | 1,518,146 | |||||||
|
| |||||||
Health Care — 11.7% | ||||||||
Acadia Healthcare Co., Inc.* | 579 | 31,984 | ||||||
Amedisys, Inc.* | 214 | 54,279 | ||||||
Arrowhead Pharmaceuticals, Inc.* | 669 | 53,293 | ||||||
Avanos Medical, Inc.* | 314 | 14,438 | ||||||
Bio-Techne Corp. | 253 | 91,508 | ||||||
Cantel Medical Corp.* | 244 | 18,124 | ||||||
Charles River Laboratories International, Inc.* | 326 | 93,282 | ||||||
Emergent BioSolutions, Inc.* | 303 | 29,088 | ||||||
Encompass Health Corp. | 641 | 51,562 | ||||||
Exelixis, Inc.* | 2,101 | 45,508 | ||||||
Haemonetics Corp.* | 326 | 41,239 | ||||||
HealthEquity, Inc.* | 524 | 43,151 | ||||||
Hill-Rom Holdings, Inc. | 435 | 46,401 | ||||||
LHC Group, Inc.* | 207 | 37,614 | ||||||
Ligand Pharmaceuticals, Inc.* | 101 | 14,970 | ||||||
LivaNova PLC* | 310 | 24,037 | ||||||
Masimo Corp.* | 335 | 83,995 | ||||||
Molina Healthcare, Inc.* | 384 | 83,236 | ||||||
Nektar Therapeutics* | 1,201 | 27,251 | ||||||
NuVasive, Inc.* | 331 | 19,969 | ||||||
Patterson Cos., Inc. | 567 | 17,611 | ||||||
Quidel Corp.* | 244 | 40,079 | ||||||
Repligen Corp.* | 327 | 69,451 | ||||||
Syneos Health, Inc.* | 498 | 38,520 | ||||||
Tenet Healthcare Corp.* | 687 | 35,051 | ||||||
United Therapeutics Corp.* | 293 | 48,984 | ||||||
|
| |||||||
(Cost $1,166,209) | 1,154,625 | |||||||
|
| |||||||
Industrials — 19.4% | ||||||||
Acuity Brands, Inc. | 245 | 30,208 | ||||||
AECOM* | 974 | 56,385 | ||||||
AGCO Corp. | 404 | 52,310 | ||||||
Avis Budget Group, Inc.* | 336 | 18,665 | ||||||
Brink’s Co. | 321 | 24,662 | ||||||
Carlisle Cos., Inc. | 347 | 50,402 | ||||||
Clean Harbors, Inc.* | 328 | 27,929 | ||||||
Colfax Corp.* | 656 | 29,094 | ||||||
CoreLogic, Inc. | 516 | 43,685 | ||||||
Crane Co. | 321 | 26,919 | ||||||
Donaldson Co., Inc. | 824 | 48,542 | ||||||
EMCOR Group, Inc. | 351 | 34,177 | ||||||
EnerSys | 280 | 25,278 | ||||||
GATX Corp. | 229 | 21,853 |
Number | Value | |||||||
Industrials (Continued) | ||||||||
Generac Holdings, Inc.* | 411 | $ | 135,449 | |||||
Graco, Inc. | 1,116 | 77,395 | ||||||
Healthcare Services Group, Inc. | 489 | 13,912 | ||||||
Herman Miller, Inc. | 382 | 14,652 | ||||||
Hexcel Corp.* | 540 | 29,030 | ||||||
Hubbell, Inc. | 351 | 62,306 | ||||||
Insperity, Inc. | 224 | 19,869 | ||||||
ITT, Inc. | 558 | 46,303 | ||||||
JetBlue Airways Corp.* | 2,043 | 37,652 | ||||||
KAR Auction Services, Inc. | 851 | 11,837 | ||||||
KBR, Inc. | 937 | 29,047 | ||||||
Kennametal, Inc. | 543 | 20,286 | ||||||
Knight-Swift Transportation Holdings, Inc. | 829 | 35,813 | ||||||
Lennox International, Inc. | 229 | 64,067 | ||||||
Lincoln Electric Holdings, Inc. | 385 | 45,472 | ||||||
ManpowerGroup, Inc. | 365 | 34,471 | ||||||
Mercury Systems, Inc.* | 374 | 24,445 | ||||||
Middleby Corp.* | 361 | 52,854 | ||||||
MSA Safety, Inc. | 235 | 37,833 | ||||||
Nordson Corp. | 351 | 67,536 | ||||||
Oshkosh Corp. | 442 | 46,852 | ||||||
Owens Corning | 714 | 57,848 | ||||||
Regal Beloit Corp. | 261 | 35,671 | ||||||
Ryder System, Inc. | 347 | 23,516 | ||||||
Science Applications International Corp. | 392 | 33,763 | ||||||
Stericycle, Inc.* | 591 | 38,338 | ||||||
Terex Corp. | 451 | 18,572 | ||||||
Tetra Tech, Inc. | 356 | 49,260 | ||||||
Timken Co. | 442 | 34,631 | ||||||
Toro Co. | 698 | 70,337 | ||||||
Univar Solutions, Inc.* | 1,127 | 22,439 | ||||||
Werner Enterprises, Inc. | 379 | 16,267 | ||||||
Woodward, Inc. | 381 | 43,518 | ||||||
XPO Logistics, Inc.* | 595 | 69,377 | ||||||
|
| |||||||
(Cost $1,932,717) | 1,910,727 | |||||||
|
| |||||||
Information Technology — 14.4% | ||||||||
ACI Worldwide, Inc.* | 759 | 29,039 | ||||||
Alliance Data Systems Corp. | 304 | 29,336 | ||||||
Arrow Electronics, Inc.* | 491 | 49,228 | ||||||
Avnet, Inc. | 654 | 24,898 | ||||||
Belden, Inc. | 294 | 12,998 | ||||||
Blackbaud, Inc.* | 326 | 22,435 | ||||||
CDK Global, Inc. | 795 | 39,861 | ||||||
Ceridian HCM Holding, Inc.* | 847 | 75,942 | ||||||
CMC Materials, Inc. | 191 | 32,566 | ||||||
Cognex Corp. | 1,161 | 95,887 | ||||||
Coherent, Inc.* | 160 | 38,711 | ||||||
CommVault Systems, Inc.* | 311 | 19,820 | ||||||
Cree, Inc.* | 719 | 81,578 | ||||||
Fair Isaac Corp.* | 188 | 86,020 | ||||||
First Solar, Inc.* | 566 | 45,857 | ||||||
II-VI, Inc.* | 661 | 55,722 | ||||||
InterDigital, Inc. | 202 | 12,801 | ||||||
Jabil, Inc. | 895 | 38,637 | ||||||
Littelfuse, Inc. | 158 | 41,115 | ||||||
Manhattan Associates, Inc.* | 416 | 51,147 |
See Notes to Financial Statements. | 46 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P MidCap 400 ESG ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Information Technology (Continued) | ||||||||
MAXIMUS, Inc. | 394 | $ | 32,024 | |||||
MKS Instruments, Inc. | 356 | 58,704 | ||||||
National Instruments Corp. | 873 | 38,761 | ||||||
Perspecta, Inc. | 886 | 25,871 | ||||||
PTC, Inc.* | 684 | 93,667 | ||||||
Qualys, Inc.* | 221 | 21,472 | ||||||
Semtech Corp.* | 416 | 30,497 | ||||||
Silicon Laboratories, Inc.* | 294 | 45,788 | ||||||
SYNNEX Corp. | 277 | 24,697 | ||||||
Teradata Corp.* | 720 | 28,872 | ||||||
Universal Display Corp. | 274 | 58,003 | ||||||
Vishay Intertechnology, Inc. | 877 | 20,934 | ||||||
WEX, Inc.* | 284 | 59,171 | ||||||
|
| |||||||
(Cost $1,451,626) | 1,422,059 | |||||||
|
| |||||||
Materials — 5.0% | ||||||||
AptarGroup, Inc. | 421 | 54,759 | ||||||
Ashland Global Holdings, Inc. | 356 | 29,947 | ||||||
Cabot Corp. | 369 | 18,166 | ||||||
Chemours Co. | 1,133 | 26,660 | ||||||
Commercial Metals Co. | 765 | 19,240 | ||||||
Compass Minerals International, Inc. | 223 | 14,069 | ||||||
Domtar Corp. | 365 | 13,523 | ||||||
Eagle Materials, Inc. | 271 | 33,978 | ||||||
Greif, Inc., Class A | 173 | 8,356 | ||||||
Ingevity Corp.* | 273 | 18,968 | ||||||
Louisiana-Pacific Corp. | 733 | 34,898 | ||||||
Reliance Steel & Aluminum Co. | 415 | 54,863 | ||||||
Sonoco Products Co. | 658 | 39,197 | ||||||
Steel Dynamics, Inc. | 1,322 | 54,969 | ||||||
United States Steel Corp. | 1,800 | 29,898 | ||||||
Valvoline, Inc. | 1,234 | 30,801 | ||||||
Worthington Industries, Inc. | 233 | 14,886 | ||||||
|
| |||||||
(Cost $503,816) | 497,178 | |||||||
|
| |||||||
Real Estate — 9.7% | ||||||||
American Campus Communities, Inc. REIT | 890 | 36,454 | ||||||
Brixmor Property Group, Inc. REIT | 1,961 | 38,592 | ||||||
Camden Property Trust REIT | 634 | 66,031 | ||||||
CoreSite Realty Corp. REIT | 277 | 33,714 | ||||||
Cousins Properties, Inc. REIT | 980 | 32,869 | ||||||
CyrusOne, Inc. REIT | 787 | 51,651 | ||||||
Douglas Emmett, Inc. REIT | 1,073 | 35,141 | ||||||
EPR Properties REIT | 487 | 22,003 | ||||||
First Industrial Realty Trust, Inc. REIT | 847 | 36,175 | ||||||
Healthcare Realty Trust, Inc. REIT | 862 | 24,877 | ||||||
Highwoods Properties, Inc. REIT | 686 | 27,413 | ||||||
Hudson Pacific Properties, Inc. REIT | 980 | 25,078 | ||||||
JBG SMITH Properties REIT | 735 | 23,336 | ||||||
Jones Lang LaSalle, Inc.* | 343 | 59,675 | ||||||
Kilroy Realty Corp. REIT | 683 | 43,343 | ||||||
Lamar Advertising Co., Class A REIT | 558 | 48,317 | ||||||
Life Storage, Inc. REIT | 474 | 39,769 | ||||||
Macerich Co. REIT | 784 | 10,129 | ||||||
Omega Healthcare Investors, Inc. REIT | 1,517 | 56,341 | ||||||
Park Hotels & Resorts, Inc. REIT | 1,565 | 34,039 | ||||||
Pebblebrook Hotel Trust REIT | 838 | 18,989 |
Number | Value | |||||||
Real Estate (Continued) | ||||||||
PotlatchDeltic Corp. REIT | 441 | $ | 22,381 | |||||
Rayonier, Inc. REIT | 893 | 29,148 | ||||||
Rexford Industrial Realty, Inc. REIT | 857 | 40,896 | ||||||
Spirit Realty Capital, Inc. REIT | 749 | 32,222 | ||||||
STORE Capital Corp. REIT | 1,575 | 52,668 | ||||||
Urban Edge Properties REIT | 699 | 11,534 | ||||||
|
| |||||||
(Cost $970,763) | 952,785 | |||||||
|
| |||||||
Utilities — 2.0% | ||||||||
Hawaiian Electric Industries, Inc. | 697 | 24,367 | ||||||
National Fuel Gas Co. | 602 | 27,355 | ||||||
New Jersey Resources Corp. | 614 | 24,124 | ||||||
ONE Gas, Inc. | 347 | 23,239 | ||||||
Southwest Gas Holdings, Inc. | 377 | 23,506 | ||||||
Spire, Inc. | 333 | 22,118 | ||||||
UGI Corp. | 1,395 | 53,442 | ||||||
|
| |||||||
(Cost $203,643) | 198,151 | |||||||
|
| |||||||
TOTAL COMMON STOCKS | 9,851,309 | |||||||
|
| |||||||
CASH EQUIVALENTS — 0.1% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (a) | 8,806 | 8,806 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 100.0% (Cost $10,001,362) | $ | 9,860,115 | ||||||
Other assets and liabilities, net — 0.0% | 3,477 | |||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 9,863,592 | ||||||
|
|
See Notes to Financial Statements. | 47 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P MidCap 400 ESG ETF (Continued)
February 28, 2021 (Unaudited)
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2021 is as follows:
Value ($) at 2/24/2021 (Commencement of Operations) | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2021 | Value ($) at 2/28/2021 | ||||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.1% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (a) |
| |||||||||||||||||||||||||||||||||||
— | 10,000,025 | (9,991,219 | ) | — | — | 11 | — | 8,806 | 8,806 |
* | Non-income producing security. |
(a) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
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, 2021 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 (b) | $ | 9,851,309 | $ | — | �� | $ | — | $ | 9,851,309 | |||||||
Short-Term Investments | 8,806 | — | — | 8,806 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 9,860,115 | $ | — | $ | — | $ | 9,860,115 | ||||||||
|
|
|
|
|
|
|
|
(b) | See Schedule of Investments for additional detailed categorizations. |
See Notes to Financial Statements. | 48 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P SmallCap 600 ESG ETF
Number | Value | |||||||
COMMON STOCKS — 99.9% | ||||||||
Communication Services — 1.0% | ||||||||
EW Scripps Co., Class A | 830 | $ | 15,620 | |||||
Marcus Corp.* | 336 | 6,599 | ||||||
Meredith Corp.* | 588 | 14,571 | ||||||
QuinStreet, Inc.* | 707 | 16,890 | ||||||
Scholastic Corp. | 435 | 12,528 | ||||||
TechTarget, Inc.* | 343 | 28,685 | ||||||
|
| |||||||
(Cost $96,377) | 94,893 | |||||||
|
| |||||||
Consumer Discretionary — 18.1% | ||||||||
Abercrombie & Fitch Co., Class A | 906 | 24,797 | ||||||
American Axle & Manufacturing Holdings, Inc.* | 1,676 | 16,375 | ||||||
American Public Education, Inc.* | 214 | 6,300 | ||||||
Asbury Automotive Group, Inc.* | 288 | 48,802 | ||||||
Bed Bath & Beyond, Inc. | 1,864 | 50,067 | ||||||
Big Lots, Inc. | 518 | 32,914 | ||||||
BJ’s Restaurants, Inc.* | 323 | 17,936 | ||||||
Bloomin’ Brands, Inc.* | 1,158 | 28,765 | ||||||
Boot Barn Holdings, Inc.* | 419 | 25,316 | ||||||
Brinker International, Inc. | 657 | 45,064 | ||||||
Buckle, Inc. | 416 | 15,991 | ||||||
Caleres, Inc. | 550 | 8,723 | ||||||
Callaway Golf Co. | 1,393 | 38,934 | ||||||
Cato Corp., Class A | 285 | 3,517 | ||||||
Cavco Industries, Inc.* | 129 | 27,207 | ||||||
Century Communities, Inc.* | 421 | 23,294 | ||||||
Cheesecake Factory, Inc. | 636 | 34,948 | ||||||
Chico’s FAS, Inc. | 1,774 | 4,772 | ||||||
Children’s Place, Inc.* | 211 | 14,612 | ||||||
Conn’s, Inc.* | 278 | 3,945 | ||||||
Cooper Tire & Rubber Co. | 732 | 41,900 | ||||||
Cooper-Standard Holdings, Inc.* | 245 | 8,776 | ||||||
Crocs, Inc.* | 1,000 | 76,720 | ||||||
Dave & Buster’s Entertainment, Inc.* | 689 | 27,980 | ||||||
Designer Brands, Inc., Class A | 853 | 10,654 | ||||||
Dine Brands Global, Inc. | 238 | 18,828 | ||||||
Dorman Products, Inc.* | 417 | 41,579 | ||||||
El Pollo Loco Holdings, Inc.* | 274 | 5,022 | ||||||
Ethan Allen Interiors, Inc. | 315 | 8,070 | ||||||
Fiesta Restaurant Group, Inc.* | 251 | 3,830 | ||||||
Fossil Group, Inc.* | 681 | 10,310 | ||||||
GameStop Corp., Class A* | 807 | 82,104 | ||||||
Gentherm, Inc.* | 496 | 35,112 | ||||||
G-III Apparel Group Ltd.* | 632 | 18,195 | ||||||
Group 1 Automotive, Inc. | 259 | 39,482 | ||||||
Guess?, Inc. | 544 | 13,714 | ||||||
Haverty Furniture Cos., Inc. | 242 | 8,753 | ||||||
Hibbett Sports, Inc.* | 241 | 15,487 | ||||||
Installed Building Products, Inc.* | 339 | 37,073 | ||||||
La-Z-Boy, Inc. | 671 | 28,591 | ||||||
LCI Industries | 376 | 52,994 | ||||||
LGI Homes, Inc.* | 320 | 34,960 | ||||||
Lumber Liquidators Holdings, Inc.* | 419 | 10,379 | ||||||
M/I Homes, Inc.* | 417 | 20,808 | ||||||
Macy’s, Inc. | 4,590 | 69,814 | ||||||
MarineMax, Inc.* | 320 | 14,288 |
Number | Value | |||||||
Consumer Discretionary (Continued) | ||||||||
MDC Holdings, Inc. | 771 | $ | 43,616 | |||||
Meritage Homes Corp.* | 563 | 47,467 | ||||||
Michaels Cos., Inc.* | 1,073 | 16,095 | ||||||
Motorcar Parts of America, Inc.* | 276 | 5,873 | ||||||
Movado Group, Inc. | 240 | 5,472 | ||||||
ODP Corp.* | 765 | 29,277 | ||||||
Oxford Industries, Inc. | 245 | 18,679 | ||||||
Perdoceo Education Corp.* | 1,007 | 12,960 | ||||||
Red Robin Gourmet Burgers, Inc.* | 225 | 6,905 | ||||||
Regis Corp.* | 352 | 4,136 | ||||||
Rent-A-Center, Inc. | 708 | 40,894 | ||||||
Ruth’s Hospitality Group, Inc. | 462 | 10,536 | ||||||
Shake Shack, Inc., Class A* | 530 | 62,794 | ||||||
Shoe Carnival, Inc. | 124 | 6,071 | ||||||
Shutterstock, Inc. | 337 | 29,734 | ||||||
Signet Jewelers Ltd.* | 760 | 37,833 | ||||||
Sleep Number Corp.* | 403 | 55,263 | ||||||
Sonic Automotive, Inc., Class A | 344 | 15,862 | ||||||
Standard Motor Products, Inc. | 293 | 12,309 | ||||||
Steven Madden Ltd. | 1,124 | 41,577 | ||||||
Tupperware Brands Corp.* | 714 | 21,827 | ||||||
Unifi, Inc.* | 216 | 5,385 | ||||||
Vera Bradley, Inc.* | 319 | 3,027 | ||||||
Wolverine World Wide, Inc. | 1,214 | 42,429 | ||||||
Zumiez, Inc.* | 302 | 13,614 | ||||||
|
| |||||||
(Cost $1,771,519) | 1,797,337 | |||||||
|
| |||||||
Consumer Staples — 3.2% | ||||||||
B&G Foods, Inc. | 933 | 28,298 | ||||||
Calavo Growers, Inc. | 241 | 18,135 | ||||||
Cal-Maine Foods, Inc.* | 542 | 20,650 | ||||||
Chefs’ Warehouse, Inc.* | 472 | 14,698 | ||||||
Coca-Cola Consolidated, Inc. | 67 | 17,196 | ||||||
Fresh Del Monte Produce, Inc. | 440 | 11,326 | ||||||
Inter Parfums, Inc. | 255 | 18,658 | ||||||
J & J Snack Foods Corp. | 226 | 35,880 | ||||||
John B Sanfilippo & Son, Inc. | 128 | 11,067 | ||||||
Medifast, Inc. | 175 | 44,273 | ||||||
MGP Ingredients, Inc. | 191 | 12,201 | ||||||
PriceSmart, Inc. | 339 | 32,697 | ||||||
Seneca Foods Corp., Class A* | 97 | 5,283 | ||||||
SpartanNash Co. | 521 | 9,498 | ||||||
United Natural Foods, Inc.* | 814 | 21,530 | ||||||
USANA Health Sciences, Inc.* | 173 | 16,791 | ||||||
|
| |||||||
(Cost $321,510) | 318,181 | |||||||
|
| |||||||
Energy — 4.0% | ||||||||
Archrock, Inc. | 1,900 | 19,589 | ||||||
Callon Petroleum Co.* | 577 | 14,754 | ||||||
Core Laboratories NV | 645 | 22,923 | ||||||
Dril-Quip, Inc.* | 509 | 17,286 | ||||||
Green Plains, Inc.* | 593 | 15,015 | ||||||
Helix Energy Solutions Group, Inc.* | 2,052 | 10,055 | ||||||
Helmerich & Payne, Inc. | 1,592 | 45,738 | ||||||
Laredo Petroleum, Inc.* | 130 | 4,237 | ||||||
Nabors Industries Ltd. | 93 | 10,324 | ||||||
Oceaneering International, Inc.* | 1,469 | 17,334 |
See Notes to Financial Statements. | 49 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P SmallCap 600 ESG ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Energy (Continued) | ||||||||
Oil States International, Inc.* | 886 | $ | 6,494 | |||||
Par Pacific Holdings, Inc.* | 580 | 10,249 | ||||||
Patterson-UTI Energy, Inc. | 2,774 | 20,528 | ||||||
QEP Resources, Inc. | 3,583 | 12,325 | ||||||
Range Resources Corp.* | 3,792 | 36,555 | ||||||
Renewable Energy Group, Inc.* | 571 | 44,407 | ||||||
REX American Resources Corp.* | 76 | 7,149 | ||||||
RPC, Inc.* | 843 | 5,353 | ||||||
SM Energy Co. | 1,576 | 21,843 | ||||||
Southwestern Energy Co.* | 9,555 | 38,698 | ||||||
US Silica Holdings, Inc. | 1,075 | 14,308 | ||||||
|
| |||||||
(Cost $394,998) | 395,164 | |||||||
|
| |||||||
Financials — 14.5% | ||||||||
Allegiance Bancshares, Inc. | 272 | 10,241 | ||||||
Ameris Bancorp | 1,041 | 49,593 | ||||||
Banner Corp. | 539 | 27,909 | ||||||
Berkshire Hills Bancorp, Inc. | 738 | 14,878 | ||||||
Blucora, Inc.* | 698 | 11,308 | ||||||
Boston Private Financial Holdings, Inc. | 1,217 | 16,746 | ||||||
Cadence BanCorp | 1,864 | 38,249 | ||||||
Capstead Mortgage Corp. REIT | 1,427 | 8,177 | ||||||
Central Pacific Financial Corp. | 409 | 9,256 | ||||||
City Holding Co. | 229 | 17,223 | ||||||
Columbia Banking System, Inc. | 1,040 | 46,062 | ||||||
Community Bank System, Inc. | 778 | 55,386 | ||||||
Customers Bancorp, Inc.* | 422 | 11,301 | ||||||
Donnelley Financial Solutions, Inc.* | 431 | 11,202 | ||||||
Eagle Bancorp, Inc. | 468 | 22,881 | ||||||
Encore Capital Group, Inc.* | 455 | 15,206 | ||||||
Enova International, Inc.* | 518 | 15,903 | ||||||
First Financial Bancorp | 1,450 | 32,524 | ||||||
First Hawaiian, Inc. | 1,935 | 53,967 | ||||||
Granite Point Mortgage Trust, Inc. REIT | 802 | 8,950 | ||||||
Great Western Bancorp, Inc. | 799 | 21,437 | ||||||
Green Dot Corp., Class A* | 777 | 36,721 | ||||||
Greenhill & Co., Inc. | 205 | 3,093 | ||||||
Hanmi Financial Corp. | 445 | 7,618 | ||||||
Heritage Financial Corp. | 521 | 13,489 | ||||||
HomeStreet, Inc. | 315 | 13,532 | ||||||
Horace Mann Educators Corp. | 601 | 23,163 | ||||||
Independent Bank Corp. | 497 | 42,498 | ||||||
Independent Bank Group, Inc. | 534 | 37,214 | ||||||
Invesco Mortgage Capital, Inc. REIT | 2,683 | 10,437 | ||||||
Meta Financial Group, Inc. | 486 | 21,525 | ||||||
National Bank Holdings Corp., Class A | 444 | 17,205 | ||||||
NBT Bancorp, Inc. | 674 | 24,419 | ||||||
NMI Holdings, Inc., Class A* | 1,255 | 28,689 | ||||||
Northfield Bancorp, Inc. | 694 | 9,501 | ||||||
Northwest Bancshares, Inc. | 1,891 | 26,701 | ||||||
OFG Bancorp | 746 | 14,405 | ||||||
Old National Bancorp. | 2,446 | 44,346 | ||||||
Pacific Premier Bancorp, Inc. | 1,396 | 56,259 | ||||||
Park National Corp. | 214 | 26,536 | ||||||
PennyMac Mortgage Investment Trust REIT | 1,461 | 27,715 |
Number | Value | |||||||
Financials (Continued) | ||||||||
Piper Sandler Cos. | 209 | $ | 22,221 | |||||
PRA Group, Inc.* | 661 | 24,364 | ||||||
Preferred Bank | 196 | 11,358 | ||||||
Provident Financial Services, Inc. | 1,133 | 22,921 | ||||||
Redwood Trust, Inc. REIT | 1,656 | 16,295 | ||||||
S&T Bancorp, Inc. | 571 | 16,490 | ||||||
Safety Insurance Group, Inc. | 222 | 17,556 | ||||||
Seacoast Banking Corp. of Florida* | 801 | 28,796 | ||||||
Simmons First National Corp., Class A | 1,610 | 47,141 | ||||||
Southside Bancshares, Inc. | 456 | 15,768 | ||||||
Stewart Information Services Corp. | 388 | 18,314 | ||||||
StoneX Group, Inc.* | 236 | 13,615 | ||||||
Tompkins Financial Corp. | 175 | 13,533 | ||||||
United Community Banks, Inc. | 1,281 | 42,350 | ||||||
United Fire Group, Inc. | 311 | 9,159 | ||||||
Veritex Holdings, Inc. | 722 | 20,996 | ||||||
Virtus Investment Partners, Inc. | 108 | 27,097 | ||||||
Waddell & Reed Financial, Inc., Class A | 908 | 22,782 | ||||||
Walker & Dunlop, Inc. | 437 | 43,551 | ||||||
Westamerica BanCorp | 390 | 23,443 | ||||||
|
| |||||||
(Cost $1,465,052) | 1,441,215 | |||||||
|
| |||||||
Health Care — 12.2% | ||||||||
Addus HomeCare Corp.* | 228 | 24,526 | ||||||
Allscripts Healthcare Solutions, Inc.* | 2,337 | 36,060 | ||||||
AMN Healthcare Services, Inc.* | 684 | 49,843 | ||||||
Amphastar Pharmaceuticals, Inc.* | 531 | 9,308 | ||||||
AngioDynamics, Inc.* | 550 | 11,522 | ||||||
ANI Pharmaceuticals, Inc.* | 139 | 4,045 | ||||||
Anika Therapeutics, Inc.* | 205 | 7,523 | ||||||
Cardiovascular Systems, Inc.* | 583 | 24,078 | ||||||
Coherus Biosciences, Inc.* | 921 | 14,957 | ||||||
Community Health Systems, Inc.* | 1,663 | 14,235 | ||||||
Computer Programs and Systems, Inc. | 183 | 5,755 | ||||||
CONMED Corp. | 427 | 52,547 | ||||||
Corcept Therapeutics, Inc.* | 1,547 | 38,907 | ||||||
CorVel Corp.* | 132 | 13,398 | ||||||
Cross Country Healthcare, Inc.* | 507 | 5,633 | ||||||
CryoLife, Inc.* | 564 | 14,241 | ||||||
Cytokinetics, Inc.* | 1,029 | 19,273 | ||||||
Enanta Pharmaceuticals, Inc.* | 258 | 12,725 | ||||||
Endo International PLC* | 3,407 | 27,018 | ||||||
Ensign Group, Inc. | 758 | 62,171 | ||||||
Glaukos Corp.* | 668 | 63,166 | ||||||
Hanger, Inc.* | 553 | 12,155 | ||||||
Heska Corp.* | 135 | 25,434 | ||||||
HMS Holdings Corp.* | 1,310 | 48,188 | ||||||
Innoviva, Inc.* | 913 | 10,436 | ||||||
Inogen, Inc.* | 266 | 13,962 | ||||||
Invacare Corp. | 499 | 4,541 | ||||||
Lannett Co., Inc.* | 496 | 3,006 | ||||||
Magellan Health, Inc.* | 330 | 30,796 | ||||||
Meridian Bioscience, Inc.* | 625 | 13,175 | ||||||
Merit Medical Systems, Inc.* | 710 | 39,561 | ||||||
Mesa Laboratories, Inc. | 74 | 20,121 | ||||||
ModivCare, Inc.* | 179 | 22,959 |
See Notes to Financial Statements. | 50 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P SmallCap 600 ESG ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Health Care (Continued) | ||||||||
Myriad Genetics, Inc.* | 1,093 | $ | 33,326 | |||||
Natus Medical, Inc.* | 491 | 12,722 | ||||||
NextGen Healthcare, Inc.* | 804 | 15,035 | ||||||
Omnicell, Inc.* | 626 | 79,439 | ||||||
OraSure Technologies, Inc.* | 1,042 | 11,045 | ||||||
Orthofix Medical, Inc.* | 280 | 13,023 | ||||||
Owens & Minor, Inc. | 1,068 | 36,323 | ||||||
Pacira BioSciences, Inc.* | 651 | 47,848 | ||||||
Phibro Animal Health Corp., Class A | 294 | 6,342 | ||||||
RadNet, Inc.* | 622 | 11,470 | ||||||
REGENXBIO, Inc.* | 495 | 20,250 | ||||||
Select Medical Holdings Corp.* | 1,595 | 50,482 | ||||||
Spectrum Pharmaceuticals, Inc.* | 2,159 | 7,405 | ||||||
Supernus Pharmaceuticals, Inc.* | 765 | 20,556 | ||||||
Surmodics, Inc.* | 197 | 10,274 | ||||||
Tactile Systems Technology, Inc.* | 281 | 14,280 | ||||||
Tivity Health, Inc.* | 543 | 12,923 | ||||||
Vanda Pharmaceuticals, Inc.* | 794 | 14,808 | ||||||
Xencor, Inc.* | 866 | 42,668 | ||||||
|
| |||||||
(Cost $1,222,412) | 1,215,484 | |||||||
|
| |||||||
Industrials — 20.1% | ||||||||
AAR Corp. | 482 | 19,174 | ||||||
ABM Industries, Inc. | 1,003 | 43,310 | ||||||
Aegion Corp.* | 446 | 11,529 | ||||||
AeroVironment, Inc.* | 328 | 36,106 | ||||||
Alamo Group, Inc. | 143 | 21,826 | ||||||
Albany International Corp., Class A | 445 | 35,177 | ||||||
Applied Industrial Technologies, Inc. | 579 | 49,429 | ||||||
ArcBest Corp. | 369 | 21,767 | ||||||
Arcosa, Inc. | 701 | 39,768 | ||||||
Astec Industries, Inc. | 327 | 22,210 | ||||||
Atlas Air Worldwide Holdings, Inc.* | 380 | 20,949 | ||||||
AZZ, Inc. | 379 | 19,363 | ||||||
Barnes Group, Inc. | 677 | 35,441 | ||||||
Boise Cascade Co. | 569 | 28,416 | ||||||
Brady Corp., Class A | 704 | 36,897 | ||||||
Chart Industries, Inc.* | 523 | 74,836 | ||||||
CIRCOR International, Inc.* | 290 | 10,327 | ||||||
Comfort Systems USA, Inc. | 553 | 34,253 | ||||||
CoreCivic, Inc. REIT | 1,770 | 12,709 | ||||||
Cubic Corp. | 457 | 31,739 | ||||||
Deluxe Corp. | 608 | 24,034 | ||||||
DXP Enterprises, Inc.* | 237 | 7,119 | ||||||
Encore Wire Corp. | 321 | 21,035 | ||||||
Enerpac Tool Group Corp. | 869 | 21,464 | ||||||
EnPro Industries, Inc. | 297 | 23,861 | ||||||
ESCO Technologies, Inc. | 378 | 39,943 | ||||||
Federal Signal Corp. | 879 | 32,004 | ||||||
Forward Air Corp. | 417 | 35,766 | ||||||
Franklin Electric Co., Inc. | 576 | 43,235 | ||||||
GMS, Inc.* | 619 | 22,655 | ||||||
Granite Construction, Inc. | 679 | 23,344 | ||||||
Greenbrier Cos., Inc. | 477 | 22,443 | ||||||
Harsco Corp.* | 1,146 | 18,749 | ||||||
Heartland Express, Inc. | 716 | 13,031 |
Number | Value | |||||||
Industrials (Continued) | ||||||||
Heidrick & Struggles International, Inc. | 280 | $ | 10,049 | |||||
Hillenbrand, Inc. | 1,086 | 50,456 | ||||||
Hub Group, Inc., Class A* | 486 | 27,984 | ||||||
Interface, Inc. | 852 | 10,582 | ||||||
John Bean Technologies Corp. | 470 | 69,358 | ||||||
Kaman Corp. | 401 | 19,513 | ||||||
Kelly Services, Inc., Class A* | 484 | 10,077 | ||||||
Korn Ferry | 786 | 48,378 | ||||||
Lindsay Corp. | 164 | 26,281 | ||||||
Lydall, Inc.* | 244 | 8,498 | ||||||
Marten Transport Ltd. | 852 | 13,785 | ||||||
Matrix Service Co.* | 385 | 5,224 | ||||||
Matson, Inc. | 625 | 43,294 | ||||||
Matthews International Corp., Class A | 461 | 16,458 | ||||||
Meritor, Inc.* | 1,051 | 31,919 | ||||||
Mueller Industries, Inc. | 829 | 33,691 | ||||||
MYR Group, Inc.* | 242 | 14,266 | ||||||
NOW, Inc.* | 1,618 | 17,199 | ||||||
Park Aerospace Corp. | 271 | 3,764 | ||||||
Pitney Bowes, Inc. | 2,561 | 21,717 | ||||||
Powell Industries, Inc. | 128 | 3,985 | ||||||
Proto Labs, Inc.* | 389 | 56,669 | ||||||
Quanex Building Products Corp. | 476 | 11,581 | ||||||
Raven Industries, Inc. | 520 | 20,384 | ||||||
Resideo Technologies, Inc.* | 2,078 | 49,914 | ||||||
Saia, Inc.* | 380 | 76,201 | ||||||
SEACOR Holdings, Inc.* | 277 | 11,775 | ||||||
SPX Corp.* | 675 | 37,523 | ||||||
SPX FLOW, Inc.* | 612 | 37,675 | ||||||
Standex International Corp. | 179 | 17,553 | ||||||
Team, Inc.* | 444 | 4,924 | ||||||
Tennant Co. | 286 | 21,793 | ||||||
Titan International, Inc. | 732 | 6,054 | ||||||
Triumph Group, Inc.* | 757 | 11,029 | ||||||
TrueBlue, Inc.* | 515 | 10,727 | ||||||
UniFirst Corp. | 226 | 54,758 | ||||||
US Ecology, Inc.* | 457 | 17,462 | ||||||
Veritiv Corp.* | 179 | 4,257 | ||||||
Viad Corp. | 295 | 12,343 | ||||||
Vicor Corp.* | 320 | 31,517 | ||||||
Wabash National Corp. | 769 | 12,750 | ||||||
Watts Water Technologies, Inc., Class A | 398 | 45,408 | ||||||
|
| |||||||
(Cost $2,028,820) | 1,992,684 | |||||||
|
| |||||||
Information Technology — 14.9% | ||||||||
8x8, Inc.* | 1,573 | 53,812 | ||||||
ADTRAN, Inc. | 696 | 11,721 | ||||||
Advanced Energy Industries, Inc. | 570 | 59,536 | ||||||
Agilysys, Inc.* | 294 | 17,519 | ||||||
Badger Meter, Inc. | 423 | 45,934 | ||||||
Benchmark Electronics, Inc. | 530 | 15,052 | ||||||
Bottomline Technologies DE, Inc.* | 569 | 25,537 | ||||||
Cardtronics PLC, Class A* | 516 | 19,892 | ||||||
CSG Systems International, Inc. | 478 | 22,060 | ||||||
CTS Corp. | 468 | 15,056 | ||||||
Diodes, Inc.* | 612 | 48,054 | ||||||
Ebix, Inc. | 342 | 8,338 |
See Notes to Financial Statements. | 51 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P SmallCap 600 ESG ETF (Continued)
February 28, 2021 (Unaudited)
Number | Value | |||||||
Information Technology (Continued) | ||||||||
EVERTEC, Inc. | 907 | $ | 35,282 | |||||
ExlService Holdings, Inc.* | 509 | 43,072 | ||||||
Extreme Networks, Inc.* | 1,820 | 16,689 | ||||||
Fabrinet* | 536 | 47,345 | ||||||
FARO Technologies, Inc.* | 258 | 24,113 | ||||||
FormFactor, Inc.* | 1,159 | 52,584 | ||||||
Insight Enterprises, Inc.* | 527 | 44,052 | ||||||
Itron, Inc.* | 600 | 70,344 | ||||||
Knowles Corp.* | 1,356 | 28,191 | ||||||
Kulicke & Soffa Industries, Inc. | 901 | 44,924 | ||||||
MaxLinear, Inc.* | 980 | 38,975 | ||||||
Methode Electronics, Inc. | 544 | 21,178 | ||||||
MicroStrategy, Inc., Class A* | 107 | 80,294 | ||||||
MTS Systems Corp. | 279 | 16,282 | ||||||
NIC, Inc. | 974 | 33,807 | ||||||
OneSpan, Inc.* | 495 | 11,563 | ||||||
PDF Solutions, Inc.* | 425 | 7,803 | ||||||
Perficient, Inc.* | 479 | 26,675 | ||||||
Plexus Corp.* | 418 | 35,104 | ||||||
Power Integrations, Inc. | 887 | 78,384 | ||||||
Progress Software Corp. | 654 | 27,821 | ||||||
Rambus, Inc.* | 1,685 | 35,351 | ||||||
Rogers Corp.* | 278 | 50,451 | ||||||
Sanmina Corp.* | 945 | 33,661 | ||||||
ScanSource, Inc.* | 368 | 10,466 | ||||||
SMART Global Holdings, Inc.* | 201 | 9,385 | ||||||
SPS Commerce, Inc.* | 527 | 53,085 | ||||||
Sykes Enterprises, Inc.* | 574 | 23,454 | ||||||
TTEC Holdings, Inc. | 264 | 22,213 | ||||||
TTM Technologies, Inc.* | 1,468 | 20,728 | ||||||
Unisys Corp.* | 916 | 22,488 | ||||||
Veeco Instruments, Inc.* | 721 | 15,501 | ||||||
Viavi Solutions, Inc.* | 3,387 | 54,819 | ||||||
|
| |||||||
(Cost $1,465,123) | 1,478,595 | |||||||
|
| |||||||
Materials — 3.4% | ||||||||
AdvanSix, Inc.* | 407 | 11,315 | ||||||
Balchem Corp. | 470 | 56,099 | ||||||
Carpenter Technology Corp. | 697 | 28,340 | ||||||
Century Aluminum Co.* | 728 | 9,996 | ||||||
Clearwater Paper Corp.* | 240 | 8,403 | ||||||
Glatfelter Corp. | 643 | 10,320 | ||||||
Haynes International, Inc. | 183 | 5,111 | ||||||
HB Fuller Co. | 778 | 43,623 | ||||||
Innospec, Inc. | 357 | 35,861 | ||||||
Kaiser Aluminum Corp. | 242 | 27,612 | ||||||
Kraton Corp.* | 462 | 17,182 | ||||||
Materion Corp. | 294 | 20,133 | ||||||
Mercer International, Inc. | 574 | 8,822 | ||||||
Neenah, Inc. | 244 | 13,498 | ||||||
SunCoke Energy, Inc. | 1,224 | 7,821 | ||||||
TimkenSteel Corp.* | 550 | 4,444 | ||||||
US Concrete, Inc.* | 229 | 11,784 | ||||||
Warrior Met Coal, Inc. | 743 | 14,243 | ||||||
|
| |||||||
(Cost $348,551) | 334,607 | |||||||
|
|
Number | Value | |||||||
Real Estate — 7.7% | ||||||||
Acadia Realty Trust REIT | 1,276 | $ | 24,129 | |||||
Agree Realty Corp. REIT | 870 | 56,167 | ||||||
Alexander & Baldwin, Inc. REIT | 1,051 | 18,361 | ||||||
American Assets Trust, Inc. REIT | 727 | 22,595 | ||||||
Armada Hoffler Properties, Inc. REIT | 841 | 10,857 | ||||||
Brandywine Realty Trust REIT | 2,523 | 30,856 | ||||||
Chatham Lodging Trust REIT* | 683 | 9,514 | ||||||
DiamondRock Hospitality Co. REIT* | 2,951 | 29,864 | ||||||
Diversified Healthcare Trust REIT | 3,525 | 15,862 | ||||||
Easterly Government Properties, Inc. REIT | 1,180 | 25,936 | ||||||
Four Corners Property Trust, Inc. REIT | 1,067 | 28,905 | ||||||
Franklin Street Properties Corp. REIT | 1,429 | 7,088 | ||||||
Getty Realty Corp. REIT | 522 | 14,606 | ||||||
Hersha Hospitality Trust REIT* | 530 | 5,894 | ||||||
Independence Realty Trust, Inc. REIT | 1,403 | 19,698 | ||||||
Industrial Logistics Properties Trust REIT | 948 | 20,164 | ||||||
iStar, Inc. REIT | 1,075 | 19,049 | ||||||
Kite Realty Group Trust REIT | 1,246 | 23,886 | ||||||
Lexington Realty Trust REIT | 4,097 | 43,920 | ||||||
LTC Properties, Inc. REIT | 569 | 23,278 | ||||||
Marcus & Millichap, Inc.* | 348 | 13,179 | ||||||
National Storage Affiliates Trust REIT | 904 | 34,849 | ||||||
Office Properties Income Trust REIT | 702 | 17,754 | ||||||
RE/MAX Holdings, Inc., Class A | 269 | 11,223 | ||||||
Realogy Holdings Corp.* | 1,708 | 25,757 | ||||||
Retail Opportunity Investments Corp. REIT | 1,746 | 27,604 | ||||||
Retail Properties of America, Inc., Class A REIT | 3,169 | 33,370 | ||||||
RPT Realty REIT | 1,177 | 12,912 | ||||||
SITE Centers Corp. REIT | 2,229 | 29,735 | ||||||
Summit Hotel Properties, Inc. REIT* | 1,564 | 16,187 | ||||||
Tanger Factory Outlet Centers, Inc. REIT | 1,382 | 21,753 | ||||||
Uniti Group, Inc. REIT | 3,443 | 41,006 | ||||||
Xenia Hotels & Resorts, Inc. REIT | 1,682 | 33,589 | ||||||
|
| |||||||
(Cost $776,819) | 769,547 | |||||||
|
| |||||||
Utilities — 0.8% | ||||||||
American States Water Co. | 536 | 39,155 | ||||||
South Jersey Industries, Inc. | 1,488 | 37,363 | ||||||
|
| |||||||
(Cost $78,652) | 76,518 | |||||||
|
| |||||||
TOTAL COMMON STOCKS | 9,914,225 | |||||||
|
| |||||||
CASH EQUIVALENTS — 0.1% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (a) | 9,735 | 9,735 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 100.0% (Cost $9,979,568) | $ | 9,923,960 | ||||||
Other assets and liabilities, net — 0.0% | 1,385 | |||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 9,925,345 | ||||||
|
|
See Notes to Financial Statements. | 52 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P SmallCap 600 ESG ETF (Continued)
February 28, 2021 (Unaudited)
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2021 is as follows:
Value ($) at | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2021 | Value ($) at 2/28/2021 | ||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.1% |
| |||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (a) |
| |||||||||||||||||||||||||||||||||
— | 10,000,025 | (9,990,290 | ) | — | — | 11 | — | 9,735 | 9,735 |
* | Non-income producing security. |
(a) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
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, 2021 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 (b) | $ | 9,914,225 | $ | — | $ | — | $ | 9,914,225 | ||||||||
Short-Term Investments | 9,735 | — | — | 9,735 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 9,923,960 | $ | — | $ | — | $ | 9,923,960 | ||||||||
|
|
|
|
|
|
|
|
(b) | See Schedule of Investments for additional detailed categorizations. |
See Notes to Financial Statements. | 53 |
DBX ETF Trust
February 28, 2021 (Unaudited)
Xtrackers MSCI ACWI ex USA ESG Leaders Equity 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 | $ | 9,499,826 | $ | 17,382,501 | $ | 13,440,405 | $ | 3,188,910,702 | ||||||||
Investment in affiliated securities at value | 9,259 | — | — | — | ||||||||||||
Investment in DWS Government Money Market Series | 10,386 | 213 | 163,472 | 9,043,407 | ||||||||||||
Investment in DWS Government & Agency Securities Portfolio* | 7,948 | 80,946 | 14,124 | 16,949 | ||||||||||||
Foreign currency at value | 39,819 | 25,059 | 21,936 | — | ||||||||||||
Deposit with broker for futures contracts | 4,293 | 4,856 | 12,879 | 471,000 | ||||||||||||
Receivables: | ||||||||||||||||
Investment securities sold | 49,511 | 196,529 | 172,337 | 8,880,374 | ||||||||||||
Capital shares | — | — | — | 1,745,612 | ||||||||||||
Variation margin on futures contracts | — | — | — | 230,202 | ||||||||||||
Dividends | 12,553 | 22,375 | 11,911 | 4,634,049 | ||||||||||||
Interest | — | — | 6 | 193 | ||||||||||||
Securities lending income | 27 | 60 | 36 | 37,265 | ||||||||||||
Foreign tax reclaim | 6,824 | 12,328 | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total assets | $ | 9,640,446 | $ | 17,724,867 | $ | 13,837,106 | $ | 3,213,969,753 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liabilities | ||||||||||||||||
Payable upon return of securities loaned | $ | 7,948 | $ | 80,946 | $ | 14,124 | $ | 16,949 | ||||||||
Payables: | ||||||||||||||||
Investment securities purchased | 54,122 | 190,983 | 170,733 | 15,765,301 | ||||||||||||
Investment advisory fees | 1,211 | 1,915 | 2,206 | 225,716 | ||||||||||||
Variation margin on futures contracts | 945 | 4,857 | 2,835 | — | ||||||||||||
Deferred foreign tax payable | 7,868 | — | 23,415 | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total liabilities | 72,094 | 278,701 | 213,313 | 16,007,966 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Assets, at value | $ | 9,568,352 | $ | 17,446,166 | $ | 13,623,793 | $ | 3,197,961,787 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net Assets Consist of | ||||||||||||||||
Paid-in capital | $ | 7,501,563 | $ | 15,298,890 | $ | 10,857,673 | $ | 2,495,878,590 | ||||||||
Distributable earnings (loss) | 2,066,789 | 2,147,276 | 2,766,120 | 702,083,197 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Assets, at value | $ | 9,568,352 | $ | 17,446,166 | $ | 13,623,793 | $ | 3,197,961,787 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Number of Common Shares outstanding | 300,001 | 600,001 | 400,001 | 91,600,001 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Asset Value | $ | 31.89 | $ | 29.08 | $ | 34.06 | $ | 34.91 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Investment in non-affiliated securities at cost | $ | 7,374,832 | $ | 15,032,314 | $ | 10,447,840 | $ | 2,485,651,921 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Investment in affiliated securities at cost | $ | 9,593 | $ | — | $ | — | $ | — | ||||||||
|
|
|
|
|
|
|
| |||||||||
Value of securities loaned | $ | 137,611 | $ | 419,704 | $ | 45,569 | $ | 17,182,398 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Investment in DWS Government Money Market Series at cost | $ | 10,386 | $ | 213 | $ | 163,472 | $ | 9,043,407 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Investment in DWS Government & Agency Securities Portfolio at cost* | $ | 7,948 | $ | 80,946 | $ | 14,124 | $ | 16,949 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Non-cash collateral for securities on loan | $ | 141,143 | $ | 371,708 | $ | 34,229 | $ | 17,796,449 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Foreign currency at cost | $ | 39,257 | $ | 24,688 | $ | 21,935 | $ | — | ||||||||
|
|
|
|
|
|
|
|
* | Represents collateral on securities loaned. |
See Notes to Financial Statements. | 54 |
DBX ETF Trust
Statements of Assets and Liabilities (Continued)
February 28, 2021 (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 | $ | 479,812,798 | $ | 9,851,309 | $ | 9,914,225 | ||||||
Investment in DWS Government Money Market Series | 679,873 | 8,806 | 9,735 | |||||||||
Investment in DWS Government & Agency Securities Portfolio* | 14,598 | — | — | |||||||||
Deposit with broker for futures contracts | 70,000 | — | — | |||||||||
Receivables: | ||||||||||||
Investment securities sold | — | — | 90,567 | |||||||||
Capital shares | 3,335,316 | — | — | |||||||||
Dividends | 573,759 | 3,649 | 2,532 | |||||||||
Interest | 17 | 11 | 11 | |||||||||
Securities lending income | 465 | — | — | |||||||||
|
|
|
|
|
| |||||||
Total assets | $ | 484,486,826 | $ | 9,863,775 | $ | 10,017,070 | ||||||
|
|
|
|
|
| |||||||
Liabilities | ||||||||||||
Payable upon return of securities loaned | $ | 14,598 | $ | — | $ | — | ||||||
Payables: | ||||||||||||
Investment securities purchased | 3,447,474 | — | 91,541 | |||||||||
Investment advisory fees | 34,681 | 183 | 184 | |||||||||
Variation margin on futures contracts | 4,620 | — | — | |||||||||
|
|
|
|
|
| |||||||
Total liabilities | 3,501,373 | 183 | 91,725 | |||||||||
|
|
|
|
|
| |||||||
Net Assets, at value | $ | 480,985,453 | $ | 9,863,592 | $ | 9,925,345 | ||||||
|
|
|
|
|
| |||||||
Net Assets Consist of | ||||||||||||
Paid-in capital | $ | 417,244,358 | $ | 10,001,362 | $ | 10,002,405 | ||||||
Distributable earnings (loss) | 63,741,095 | (137,770 | ) | (77,060 | ) | |||||||
|
|
|
|
|
| |||||||
Net Assets, at value | $ | 480,985,453 | $ | 9,863,592 | $ | 9,925,345 | ||||||
|
|
|
|
|
| |||||||
Number of Common Shares outstanding | 14,450,001 | 400,001 | 400,001 | |||||||||
|
|
|
|
|
| |||||||
Net Asset Value | $ | 33.29 | $ | 24.66 | $ | 24.81 | ||||||
|
|
|
|
|
| |||||||
Investment in non-affiliated securities at cost | $ | 418,052,435 | $ | 9,992,556 | $ | 9,969,833 | ||||||
|
|
|
|
|
| |||||||
Value of securities loaned | $ | 8,850,398 | $ | — | $ | — | ||||||
|
|
|
|
|
| |||||||
Investment in DWS Government Money Market Series at cost | $ | 679,873 | $ | 8,806 | $ | 9,735 | ||||||
|
|
|
|
|
| |||||||
Investment in DWS Government & Agency Securities Portfolio at cost* | $ | 14,598 | $ | — | $ | — | ||||||
|
|
|
|
|
| |||||||
Non-cash collateral for securities on loan | $ | 9,082,539 | $ | — | $ | — | ||||||
|
|
|
|
|
|
* | Represents collateral on securities loaned. |
See Notes to Financial Statements. | 55 |
DBX ETF Trust
For the Six Months Ended February 28, 2021 (Unaudited)
Xtrackers MSCI ACWI ex USA ESG Leaders Equity 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* | $ | 61,830 | $ | 111,903 | $ | 42,162 | $ | 23,260,027 | ||||||||
Affiliated dividend income | 539 | — | — | — | ||||||||||||
Income distributions from affiliated funds | 98 | — | 10 | 753 | ||||||||||||
Affiliated securities lending income | 7 | 12 | 3 | 171 | ||||||||||||
Unaffiliated non-cash dividend income | 9,432 | 21,970 | — | — | ||||||||||||
Unaffiliated securities lending income, net of borrower rebates | 1,780 | 1,041 | 262 | 66,165 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total investment income | 73,686 | 134,926 | 42,437 | 23,327,116 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Expenses | ||||||||||||||||
Investment advisory fees | 7,160 | 10,225 | 10,328 | 1,407,371 | ||||||||||||
Other expenses | 57 | 57 | 57 | 401 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total expenses | 7,217 | 10,282 | 10,385 | 1,407,772 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Less fees waived (see note 3): | ||||||||||||||||
Waiver | (27 | ) | (4 | ) | (34 | ) | (142,503 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net expenses | 7,190 | 10,278 | 10,351 | 1,265,269 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net investment income (loss) | 66,496 | 124,648 | 32,086 | 22,061,847 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Realized and Unrealized Gain (Loss) | ||||||||||||||||
Net realized gain (loss) from: | ||||||||||||||||
Investments | (37,235 | ) | (12,083 | ) | (55,723 | ) | (11,647,180 | ) | ||||||||
Investments in affiliates | 7,113 | — | — | — | ||||||||||||
In-kind redemptions | — | — | — | 27,663,648 | ||||||||||||
Futures contracts | 13,331 | 4,698 | 13,324 | 641,041 | ||||||||||||
Foreign currency transactions | 779 | (1,367 | ) | (1,569 | ) | — | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized gain (loss) | (16,012 | ) | (8,752 | ) | (43,968 | ) | 16,657,509 | |||||||||
|
|
|
|
|
|
|
| |||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||
Investments** | 1,239,805 | 1,615,486 | 1,742,752 | 247,216,687 | ||||||||||||
Investments in affiliates | (2,483 | ) | — | — | — | |||||||||||
Futures contracts | (1,220 | ) | 1,169 | 373 | (318,420 | ) | ||||||||||
Foreign currency translations | (888 | ) | (678 | ) | (223 | ) | — | |||||||||
|
|
|
|
|
|
|
| |||||||||
Net change in unrealized appreciation (depreciation) | 1,235,214 | 1,615,977 | 1,742,902 | 246,898,267 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized and unrealized gain (loss) on investments, futures and foreign currency transactions | 1,219,202 | 1,607,225 | 1,698,934 | 263,555,776 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 1,285,698 | $ | 1,731,873 | $ | 1,731,020 | $ | 285,617,623 | ||||||||
|
|
|
|
|
|
|
| |||||||||
* Unaffiliated foreign tax withheld | $ | 8,407 | $ | 11,343 | $ | 7,313 | $ | — | ||||||||
** Net of change in deferred foreign taxes | $ | 5,181 | $ | — | $ | 18,977 | $ | — |
See Notes to Financial Statements. | 56 |
DBX ETF Trust
Statements of Operations (Continued)
For the Six Months Ended February 28, 2021 (Unaudited)
Xtrackers S&P 500 ESG ETF | Xtrackers S&P MidCap 400 ESG ETF(1) | Xtrackers S&P SmallCap 600 ESG ETF(1) | ||||||||||
Investment Income | ||||||||||||
Unaffiliated dividend income | $ | 3,075,091 | $ | 3,649 | $ | 2,531 | ||||||
Income distributions from affiliated funds | 117 | 11 | 11 | |||||||||
Affiliated securities lending income | 14 | — | — | |||||||||
Unaffiliated securities lending income, net of borrower rebates | 3,688 | — | — | |||||||||
|
|
|
|
|
| |||||||
Total investment income | 3,078,910 | 3,660 | 2,542 | |||||||||
|
|
|
|
|
| |||||||
Expenses | ||||||||||||
Investment advisory fees | 198,428 | 205 | 206 | |||||||||
Other expenses | 57 | — | — | |||||||||
|
|
|
|
|
| |||||||
Total expenses | 198,485 | 205 | 206 | |||||||||
|
|
|
|
|
| |||||||
Less fees waived (see note 3): | ||||||||||||
Waiver | (18,306 | ) | (22 | ) | (22 | ) | ||||||
|
|
|
|
|
| |||||||
Net expenses | 180,179 | 183 | 184 | |||||||||
|
|
|
|
|
| |||||||
Net investment income (loss) | 2,898,731 | 3,477 | 2,358 | |||||||||
|
|
|
|
|
| |||||||
Realized and Unrealized Gain (Loss) | ||||||||||||
Net realized gain (loss) from: | ||||||||||||
Investments | (657,630 | ) | — | (23,810 | ) | |||||||
In-kind redemptions | 2,795,614 | — | — | |||||||||
Futures contracts | 95,511 | — | — | |||||||||
|
|
|
|
|
| |||||||
Net realized gain (loss) | 2,233,495 | — | (23,810 | ) | ||||||||
|
|
|
|
|
| |||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||
Investments | 24,619,239 | (141,247 | ) | (55,608 | ) | |||||||
Futures contracts | (35,845 | ) | — | — | ||||||||
|
|
|
|
|
| |||||||
Net change in unrealized appreciation (depreciation) | 24,583,394 | (141,247 | ) | (55,608 | ) | |||||||
|
|
|
|
|
| |||||||
Net realized and unrealized gain (loss) on investments and futures | 26,816,889 | (141,247 | ) | (79,418 | ) | |||||||
|
|
|
|
|
| |||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 29,715,620 | $ | (137,770 | ) | $ | (77,060 | ) | ||||
|
|
|
|
|
|
(1) | For the period February 24, 2021 (commencement of operations) through February 28, 2021. |
See Notes to Financial Statements. | 57 |
DBX ETF Trust
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF | Xtrackers MSCI EAFE ESG Leaders Equity ETF | |||||||||||||||
For the Six Months Ended February 28, 2021 (Unaudited) | Year Ended August 31, 2020 | For the Six Months Ended February 28, 2021 (Unaudited) | Year Ended August 31, 2020 | |||||||||||||
Increase (Decrease) in Net Assets from Operations | ||||||||||||||||
Net investment income (loss) | $ | 66,496 | $ | 203,185 | $ | 124,648 | $ | 229,188 | ||||||||
Net realized gain (loss) | (16,012 | ) | (48,254 | ) | (8,752 | ) | (175,028 | ) | ||||||||
Net change in net unrealized appreciation (depreciation) | 1,235,214 | 808,500 | 1,615,977 | 989,572 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from operations | 1,285,698 | 963,431 | 1,731,873 | 1,043,732 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Distributions to Shareholders | (88,272 | ) | (218,581 | ) | (128,860 | ) | (223,206 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Fund Shares Transactions | ||||||||||||||||
Proceeds from shares sold | — | — | 4,162,634 | 3,628,617 | ||||||||||||
Value of shares redeemed | — | — | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from fund share transactions | — | — | 4,162,634 | 3,628,617 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total net increase (decrease) in Net Assets | 1,197,426 | 744,850 | 5,765,647 | 4,449,143 | ||||||||||||
Net Assets | ||||||||||||||||
Beginning of period | 8,370,926 | 7,626,076 | 11,680,519 | 7,231,376 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
End of period | $ | 9,568,352 | $ | 8,370,926 | $ | 17,446,166 | $ | 11,680,519 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Changes in Shares Outstanding | ||||||||||||||||
Shares outstanding, beginning of period | 300,001 | 300,001 | 450,001 | 300,001 | ||||||||||||
Shares sold | — | — | 150,000 | 150,000 | ||||||||||||
Shares redeemed | — | — | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Shares outstanding, end of period | 300,001 | 300,001 | 600,001 | 450,001 | ||||||||||||
|
|
|
|
|
|
|
|
See Notes to Financial Statements. | 58 |
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, 2021 (Unaudited) | Year Ended August 31, 2020 | For the Six Months Ended February 28, 2021 (Unaudited) | Year Ended August 31, 2020 | |||||||||||||
Increase (Decrease) in Net Assets from Operations | ||||||||||||||||
Net investment income (loss) | $ | 32,086 | $ | 258,084 | $ | 22,061,847 | $ | 33,012,859 | ||||||||
Net realized gain (loss) | (43,968 | ) | (164,600 | ) | 16,657,509 | 4,492,657 | ||||||||||
Net change in net unrealized appreciation (depreciation) | 1,742,902 | 1,385,759 | 246,898,267 | 386,265,567 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from operations | 1,731,020 | 1,479,243 | 285,617,623 | 423,771,083 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Distributions to Shareholders | (49,383 | ) | (318,526 | ) | (22,041,769 | ) | (29,554,714 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Fund Shares Transactions | ||||||||||||||||
Proceeds from shares sold | 3,371,694 | — | 371,970,319 | 1,074,035,689 | ||||||||||||
Value of shares redeemed | — | — | (104,029,264 | ) | (142,918,766 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from fund share transactions | 3,371,694 | — | 267,941,055 | 931,116,923 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total net increase (decrease) in Net Assets | 5,053,331 | 1,160,717 | 531,516,909 | 1,325,333,292 | ||||||||||||
Net Assets | ||||||||||||||||
Beginning of period | 8,570,462 | 7,409,745 | 2,666,444,878 | 1,341,111,586 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
End of period | $ | 13,623,793 | $ | 8,570,462 | $ | 3,197,961,787 | $ | 2,666,444,878 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Changes in Shares Outstanding | ||||||||||||||||
Shares outstanding, beginning of period | 300,001 | 300,001 | 83,750,001 | 50,250,001 | ||||||||||||
Shares sold | 100,000 | — | 11,000,000 | 38,450,000 | ||||||||||||
Shares redeemed | — | — | (3,150,000 | ) | (4,950,000 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Shares outstanding, end of period | 400,001 | 300,001 | 91,600,001 | 83,750,001 | ||||||||||||
|
|
|
|
|
|
|
|
See Notes to Financial Statements. | 59 |
DBX ETF Trust
Statements of Changes in Net Assets (Continued)
Xtrackers S&P 500 ESG ETF | Xtrackers S&P MidCap 400 ESG ETF | Xtrackers S&P SmallCap 600 ESG ETF | ||||||||||||||
For the Six Months Ended February 28, 2021 (Unaudited) | Year Ended August 31, 2020 | For the Period February 24, 2021(1) to February 28, 2021 | For the Period February 24, 2021(1) to February 28, 2021 | |||||||||||||
Increase (Decrease) in Net Assets from Operations | ||||||||||||||||
Net investment income (loss) | $ | 2,898,731 | $ | 2,350,149 | $ | 3,477 | $ | 2,358 | ||||||||
Net realized gain (loss) | 2,233,495 | 745,744 | — | (23,810 | ) | |||||||||||
Net change in net unrealized appreciation (depreciation) | 24,583,394 | 37,102,920 | (141,247 | ) | (55,608 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from operations | 29,715,620 | 40,198,813 | (137,770 | ) | (77,060 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Distributions to Shareholders | (2,575,486 | ) | (1,693,157 | ) | — | — | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Fund Shares Transactions | ||||||||||||||||
Proceeds from shares sold | 195,825,638 | 280,622,402 | 10,001,337 | 10,002,380 | ||||||||||||
Value of shares redeemed | (12,415,170 | ) | (60,077,355 | ) | — | — | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from fund share transactions | 183,410,468 | 220,545,047 | 10,001,337 | 10,002,380 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total net increase (decrease) in Net Assets | 210,550,602 | 259,050,703 | 9,863,567 | 9,925,320 | ||||||||||||
Net Assets | ||||||||||||||||
Beginning of period | 270,434,851 | 11,384,148 | 25 | 25 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
End of period | $ | 480,985,453 | $ | 270,434,851 | $ | 9,863,592 | $ | 9,925,345 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Changes in Shares Outstanding | ||||||||||||||||
Shares outstanding, beginning of period | 8,700,001 | 450,001 | 1 | 1 | ||||||||||||
Shares sold | 6,150,000 | 10,700,000 | 400,000 | 400,000 | ||||||||||||
Shares redeemed | (400,000 | ) | (2,450,000 | ) | — | — | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Shares outstanding, end of period | 14,450,001 | 8,700,001 | 400,001 | 400,001 | ||||||||||||
|
|
|
|
|
|
|
|
(1) | Commencement of Operations. |
See Notes to Financial Statements. | 60 |
DBX ETF Trust
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF Selected Per Share Data | For the Six Months Ended 2/28/2021 (Unaudited) | Year Ended 8/31/2020 | Period Ended 8/31/2019(a) | |||||||||
Net Asset Value, beginning of period | $ | 27.90 | $ | 25.42 | $ | 25.00 | ||||||
|
|
|
|
|
| |||||||
Income (loss) from investment operations: | ||||||||||||
Net investment income (loss)(b) | 0.22 | 0.68 | 0.60 | |||||||||
Net realized and unrealized gain (loss) | 4.06 | 2.53 | 0.27 | |||||||||
|
|
|
|
|
| |||||||
Total from investment operations | 4.28 | 3.21 | 0.87 | |||||||||
|
|
|
|
|
| |||||||
Less distributions from: | ||||||||||||
Net investment income | (0.29 | ) | (0.73 | ) | (0.45 | ) | ||||||
|
|
|
|
|
| |||||||
Total distributions | (0.29 | ) | (0.73 | ) | (0.45 | ) | ||||||
|
|
|
|
|
| |||||||
Net Asset Value, end of period | $ | 31.89 | $ | 27.90 | $ | 25.42 | ||||||
|
|
|
|
|
| |||||||
Total Return (%)(c) | 15.39 | ** | 12.74 | 3.44 | ** | |||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||
Net Assets, end of period ($ millions) | 10 | 8 | 8 | |||||||||
Ratio of expenses before fee waiver (%) | 0.16 | * | 0.16 | 0.16 | * | |||||||
Ratio of expenses after fee waiver (%) | 0.16 | * | 0.16 | 0.16 | * | |||||||
Ratio of net investment income (loss) (%) | 1.38 | * | 2.61 | 3.17 | * | |||||||
Portfolio turnover rate (%)(d) | 4 | ** | 13 | 10 | ** | |||||||
Xtrackers MSCI EAFE ESG Leaders Equity ETF Selected Per Share Data | For the Six Months Ended 2/28/2021 (Unaudited) | Year Ended 8/31/2020 | Period Ended 8/31/2019(e) | |||||||||
Net Asset Value, beginning of period | $ | 25.96 | $ | 24.10 | $ | 25.00 | ||||||
|
|
|
|
|
| |||||||
Income (loss) from investment operations: | ||||||||||||
Net investment income (loss)(b) | 0.24 | 0.59 | 0.78 | |||||||||
Net realized and unrealized gain (loss) | 3.11 | 1.83 | (1.01 | ) | ||||||||
|
|
|
|
|
| |||||||
Total from investment operations | 3.35 | 2.42 | (0.23 | ) | ||||||||
|
|
|
|
|
| |||||||
Less distributions from: | ||||||||||||
Net investment income | (0.23 | ) | (0.56 | ) | (0.66 | ) | ||||||
Net realized gains | — | — | (0.01 | ) | ||||||||
|
|
|
|
|
| |||||||
Total distributions | (0.23 | ) | (0.56 | ) | (0.67 | ) | ||||||
|
|
|
|
|
| |||||||
Net Asset Value, end of period | $ | 29.08 | $ | 25.96 | $ | 24.10 | ||||||
|
|
|
|
|
| |||||||
Total Return (%)(c) | 12.93 | ** | 10.12 | (0.91 | )** | |||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||
Net Assets, end of period ($ millions) | 17 | 12 | 7 | |||||||||
Ratio of expenses before fee waiver (%) | 0.14 | * | 0.14 | 0.14 | * | |||||||
Ratio of expenses after fee waiver (%) | 0.14 | * | 0.14 | 0.14 | * | |||||||
Ratio of net investment income (loss) (%) | 1.55 | * | 2.39 | 3.25 | * | |||||||
Portfolio turnover rate (%)(d) | 6 | ** | 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. | 61 |
DBX ETF Trust
Financial Highlights (Continued)
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF Selected Per Share Data | For the Six Months Ended 2/28/2021 (Unaudited) | Year Ended 8/31/2020 | Period Ended 8/31/2019(a) | |||||||||
Net Asset Value, beginning of period | $ | 28.57 | $ | 24.70 | $ | 25.00 | ||||||
|
|
|
|
|
| |||||||
Income (loss) from investment operations: | ||||||||||||
Net investment income (loss)(b) | 0.10 | 0.86 | 0.50 | |||||||||
Net realized and unrealized gain (loss) | 5.55 | 4.07 | (0.53 | ) | ||||||||
|
|
|
|
|
| |||||||
Total from investment operations | 5.65 | 4.93 | (0.03 | ) | ||||||||
|
|
|
|
|
| |||||||
Less distributions from: | ||||||||||||
Net investment income | (0.16 | ) | (1.06 | ) | (0.27 | ) | ||||||
Net realized gains | — | (0.00 | )(c) | — | ||||||||
|
|
|
|
|
| |||||||
Total distributions | (0.16 | ) | (1.06 | ) | (0.27 | ) | ||||||
|
|
|
|
|
| |||||||
Net Asset Value, end of period | $ | 34.06 | $ | 28.57 | $ | 24.70 | ||||||
|
|
|
|
|
| |||||||
Total Return (%)(d) | 19.83 | ** | 20.32 | (0.17 | )** | |||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||
Net Assets, end of period ($ millions) | 14 | 9 | 7 | |||||||||
Ratio of expenses before fee waiver (%) | 0.20 | * | 0.20 | 0.20 | * | |||||||
Ratio of expenses after fee waiver (%) | 0.20 | * | 0.20 | 0.20 | * | |||||||
Ratio of net investment income (loss) (%) | 0.62 | * | 3.38 | 2.68 | * | |||||||
Portfolio turnover rate (%)(e) | 6 | ** | 17 | 16 | ** | |||||||
Xtrackers MSCI USA ESG Leaders Equity ETF Selected Per Share Data | For the Six Months Ended 2/28/2021 (Unaudited) | Year Ended 8/31/2020 | Period Ended 8/31/2019(f) | |||||||||
Net Asset Value, beginning of period | $ | 31.84 | $ | 26.69 | $ | 25.00 | ||||||
|
|
|
|
|
| |||||||
Income (loss) from investment operations: | ||||||||||||
Net investment income (loss)(b) | 0.26 | 0.51 | 0.24 | |||||||||
Net realized and unrealized gain (loss) | 3.07 | 5.10 | 1.57 | |||||||||
|
|
|
|
|
| |||||||
Total from investment operations | 3.33 | 5.61 | 1.81 | |||||||||
|
|
|
|
|
| |||||||
Less distributions from: | ||||||||||||
Net investment income | (0.26 | ) | (0.46 | ) | (0.12 | ) | ||||||
|
|
|
|
|
| |||||||
Total distributions | (0.26 | ) | (0.46 | ) | (0.12 | ) | ||||||
|
|
|
|
|
| |||||||
Net Asset Value, end of period | $ | 34.91 | $ | 31.84 | $ | 26.69 | ||||||
|
|
|
|
|
| |||||||
Total Return (%)(d) | 10.54 | ** | 21.42 | 7.23 | ** | |||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||
Net Assets, end of period ($ millions) | 3,198 | 2,666 | 1,341 | |||||||||
Ratio of expenses before fee waiver (%) | 0.10 | * | 0.10 | 0.10 | * | |||||||
Ratio of expenses after fee waiver (%) | 0.09 | * | 0.09 | 0.10 | * | |||||||
Ratio of net investment income (loss) (%) | 1.57 | * | 1.83 | 1.89 | * | |||||||
Portfolio turnover rate (%)(e) | 3 | ** | 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. | 62 |
DBX ETF Trust
Financial Highlights (Continued)
Xtrackers S&P 500 ESG ETF Selected Per Share Data | For the Six Months Ended 2/28/2021 (Unaudited) | Year Ended 8/31/2020 | Period Ended 8/31/2019(a) | |||||||||
Net Asset Value, beginning of period | $ | 31.08 | $ | 25.30 | $ | 25.00 | ||||||
|
|
|
|
|
| |||||||
Income (loss) from investment operations: | ||||||||||||
Net investment income (loss)(b) | 0.25 | 0.50 | 0.10 | |||||||||
Net realized and unrealized gain (loss) | 2.19 | 5.85 | 0.20 | |||||||||
|
|
|
|
|
| |||||||
Total from investment operations | 2.44 | 6.35 | 0.30 | |||||||||
|
|
|
|
|
| |||||||
Less distributions from: | ||||||||||||
Net investment income | (0.23 | ) | (0.57 | ) | — | |||||||
|
|
|
|
|
| |||||||
Total distributions | (0.23 | ) | (0.57 | ) | — | |||||||
|
|
|
|
|
| |||||||
Net Asset Value, end of period | $ | 33.29 | $ | 31.08 | $ | 25.30 | ||||||
|
|
|
|
|
| |||||||
Total Return (%)(c) | 7.92 | ** | 25.71 | 1.20 | ** | |||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||
Net Assets, end of period ($ millions) | 481 | 270 | 11 | |||||||||
Ratio of expenses before fee waiver (%) | 0.11 | * | 0.11 | 0.11 | * | |||||||
Ratio of expenses after fee waiver (%) | 0.10 | * | 0.11 | 0.11 | * | |||||||
Ratio of net investment income (loss) (%) | 1.61 | * | 1.86 | 2.08 | * | |||||||
Portfolio turnover rate (%)(d) | 2 | ** | 11 | 0 | ** | |||||||
Xtrackers S&P MidCap 400 ESG ETF Selected Per Share Data | Period Ended 2/28/2021(e) | |||||||||||
Net Asset Value, beginning of period | $ | 25.00 | ||||||||||
|
| |||||||||||
Income (loss) from investment operations: | ||||||||||||
Net investment income (loss)(b) | 0.01 | |||||||||||
Net realized and unrealized gain (loss) | (0.35 | ) | ||||||||||
|
| |||||||||||
Total from investment operations | (0.34 | ) | ||||||||||
|
| |||||||||||
Net Asset Value, end of period | $ | 24.66 | ||||||||||
|
| |||||||||||
Total Return (%)(c) | (1.36 | )** | ||||||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||
Net Assets, end of period ($ millions) | 10 | |||||||||||
Ratio of expenses before fee waiver (%) | 0.15 | * | ||||||||||
Ratio of expenses after fee waiver (%) | 0.13 | * | ||||||||||
Ratio of net investment income (loss) (%) | 2.55 | * | ||||||||||
Portfolio turnover rate (%)(d) | 0 | ** |
(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 February 28, 2021. |
* | Annualized. |
** | Not Annualized. |
See Notes to Financial Statements. | 63 |
DBX ETF Trust
Financial Highlights (Continued)
Xtrackers S&P SmallCap 600 ESG ETF Selected Per Share Data | Period Ended 2/28/2021(a) | |||
Net Asset Value, beginning of period | $ | 25.00 | ||
|
| |||
Income (loss) from investment operations: | ||||
Net investment income (loss)(b) | 0.01 | |||
Net realized and unrealized gain (loss) | (0.20 | ) | ||
|
| |||
Total from investment operations | (0.19 | ) | ||
|
| |||
Net Asset Value, end of period | $ | 24.81 | ||
|
| |||
Total Return (%)(c) | (0.76 | )** | ||
Ratios to Average Net Assets and Supplemental Data | ||||
Net Assets, end of period ($ millions) | 10 | |||
Ratio of expenses before fee waiver (%) | 0.15 | * | ||
Ratio of expenses after fee waiver (%) | 0.13 | * | ||
Ratio of net investment income (loss) (%) | 1.71 | * | ||
Portfolio turnover rate (%)(d) | 1 | ** |
(a) | For the period February 24, 2021 (commencement of operations) through February 28, 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. | 64 |
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, 2021, the Trust consists of thirty-five 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 MSCI ACWI ex USA ESG Leaders Equity 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 MSCI ACWI ex USA ESG Leaders Equity ETF | MSCI ACWI ex USA ESG Leaders Index | |
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 MSCI ACWI ex USA ESG Leaders Index is a capitalization weighted index that provides exposure to companies with high Environmental, Social and Governance (“ESG”) performance relative to their sector peers. The Underlying Index is constructed using regional indexes that provide exposure to large- and medium-capitalization companies from developed and emerging markets countries (excluding 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 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.
65
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 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.
66
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
67
DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
and to elect treatment as a separate Regulated Investment Company (“RIC”) under Subchapter M of the Code. It is the policy of Xtrackers MSCI ACWI ex USA ESG Leaders Equity 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, 2021, the Funds did not incur any interest or penalties.
At August 31, 2020, 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 MSCI ACWI ex USA ESG Leaders Equity ETF | $ | 188 | $ | 41,533 | $ | 41,721 | ||||||
Xtrackers MSCI EAFE ESG Leaders Equity ETF | 74,886 | 131,877 | 206,763 | |||||||||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | 47,690 | 95,372 | 143,062 | |||||||||
Xtrackers MSCI USA ESG Leaders Equity ETF | 5,844,483 | 10,984,723 | 16,829,206 | |||||||||
Xtrackers S&P 500 ESG ETF | 532,195 | — | 532,195 |
As of August 31, 2020, 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 MSCI ACWI ex USA ESG Leaders Equity ETF | $ | 7,469,204 | $ | 868,644 | $ | 1,635,517 | $ | (766,873 | ) | |||||||
Xtrackers MSCI EAFE ESG Leaders Equity ETF | 11,002,201 | 694,430 | 1,580,624 | (886,194 | ) | |||||||||||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | 7,374,787 | 1,204,629 | 2,158,719 | (954,090 | ) | |||||||||||
Xtrackers MSCI USA ESG Leaders Equity ETF | 2,214,595,050 | 447,499,989 | 527,611,813 | (80,111,824 | ) | |||||||||||
Xtrackers S&P 500 ESG ETF | 233,759,584 | 36,388,830 | 42,983,368 | (6,594,538 | ) |
The tax character of current year distributions will be determined at the end of the current fiscal year.
68
DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
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, 2021, 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, 2021, 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 (0.04% annualized effective rate as of February 28, 2021) 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.
69
DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
As of February 28, 2021, 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 MSCI ACWI ex USA ESG Leaders Equity ETF |
| |||||||||||||||||||
Common Stocks | $ | 7,948 | $ | 3,396 | $ | 1,028 | $ | 136,719 | $ | 149,091 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
| $ | 149,091 | |||||||||||||||||
Xtrackers MSCI EAFE ESG Leaders Equity ETF |
| |||||||||||||||||||
Common Stocks | $ | 22,616 | $ | 10,216 | $ | 2,535 | $ | 358,957 | $ | 394,324 | ||||||||||
Exchange-Traded Funds | 58,330 | — | — | — | 58,330 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total Borrowings | $ | 80,946 | $ | 10,216 | $ | 2,535 | $ | 358,957 | $ | 452,654 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
| $ | 452,654 | |||||||||||||||||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF |
| |||||||||||||||||||
Common Stocks | $ | 14,124 | $ | — | $ | — | $ | 34,229 | $ | 48,353 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
| $ | 48,353 | |||||||||||||||||
Xtrackers MSCI USA ESG Leaders Equity ETF |
| |||||||||||||||||||
Common Stocks | $ | 16,949 | $ | 54,731 | $ | 1,417,336 | $ | 16,324,382 | $ | 17,813,398 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
| $ | 17,813,398 | |||||||||||||||||
Xtrackers S&P 500 ESG ETF |
| |||||||||||||||||||
Common Stocks | $ | 14,598 | $ | 163,767 | $ | 1,068,984 | $ | 7,849,788 | $ | 9,097,137 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
| $ | 9,097,137 |
As of February 28, 2021, S&P MidCap 400 ESG ETF and S&P SmallCap 600 ESG ETF had no securities on loan.
Derivatives
Futures Contracts Each Fund may enter into futures contracts. These futures contracts will be used to simulate investment in the respective Underlying Index, to facilitate trading or to reduce transaction costs. Each Fund will enter into futures contracts that are traded on a U.S. or non-U.S. exchange. No Fund will use futures for speculative purposes. Futures contracts provide for the future sale by one party and purchase by another party of a specified amount of a specific instrument or index at a specified future time and at a specified price. For the period ended February 28, 2021, Xtrackers MSCI ACWI ex USA ESG Leaders Equity 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 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.
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A summary of the open futures contracts as of February 28, 2021 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, 2021 and the related location in the accompanying Statement of Assets and Liabilities, presented by primary underlying risk exposure:
Asset Derivatives | Liability Derivatives | |||||||||||||
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF |
| |||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | 4,435 | Unrealized depreciation on futures contracts* | $ | — | ||||||||
Xtrackers MSCI EAFE ESG Leaders Equity ETF |
| |||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | 1,081 | Unrealized depreciation on futures contracts* | $ | — | ||||||||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF |
| |||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | 6,028 | Unrealized depreciation on futures contracts* | $ | — | ||||||||
Xtrackers MSCI USA ESG Leaders Equity ETF |
| |||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | 86,160 | Unrealized depreciation on futures contracts* | $ | 94,500 | ||||||||
Xtrackers S&p 500 ESG ETF |
| |||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | 14,415 | Unrealized depreciation on futures contracts* | $ | — |
* | Includes cumulative appreciation or cumulative depreciation of futures contracts as disclosed in the Schedule of Investments. Unsettled variation margin is disclosed separately within the Statement of Assets and Liabilities. |
Additionally, the amount of realized and unrealized gains and losses on derivative instruments recognized in the Funds’ earnings during the period ended February 28, 2021 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 MSCI ACWI ex USA ESG Leaders Equity ETF | $ | 13,331 | ||
Xtrackers MSCI EAFE ESG Leaders Equity ETF | 4,698 | |||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | 13,324 | |||
Xtrackers MSCI USA ESG Leaders Equity ETF | 641,041 | |||
Xtrackers S&P 500 ESG ETF | 95,511 | |||
Net Change in Unrealized Appreciation (Depreciation) on: | ||||
Futures Contracts — Equity Contracts | ||||
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF | $ | (1,220 | ) | |
Xtrackers MSCI EAFE ESG Leaders Equity ETF | 1,169 | |||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | 373 | |||
Xtrackers MSCI USA ESG Leaders Equity ETF | (318,420 | ) | ||
Xtrackers S&P 500 ESG ETF | (35,845 | ) |
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For the period ended February 28, 2021 the average monthly volume of derivatives was as follows:
Futures Contracts (Contract Value) | ||||
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF | $ | 60,325 | ||
Xtrackers MSCI EAFE ESG Leaders Equity ETF | 33,608 | |||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | 107,586 | |||
Xtrackers MSCI USA ESG Leaders Equity ETF | 5,147,796 | |||
Xtrackers S&P 500 ESG ETF | 812,233 |
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 Management Fee | ||||
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF | 0.16 | % | ||
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, 2021, the Advisor waived $140,737 of expenses to the Fund.
The Advisor for the Xtrackers S&P 500 ESG ETF has contractually agreed through December 17, 2021 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, 2021, the Advisor waived $18,039 of expenses to the Fund.
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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, 2021, the Advisor waived expenses of the Funds as follows:
Expenses Waived | ||||
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF | $ | 27 | ||
Xtrackers MSCI EAFE ESG Leaders Equity ETF | 4 | |||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | 34 | |||
Xtrackers MSCI USA ESG Leaders Equity ETF | 1,766 | |||
Xtrackers S&P 500 ESG ETF | 267 | |||
Xtrackers S&P MidCap 400 ESG ETF | 22 | |||
Xtrackers S&P SmallCap 600 ESG ETF | 22 |
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, 2021, 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 MSCI ACWI ex USA ESG Leaders Equity ETF | $ | 366,460 | $ | 384,345 | ||||
Xtrackers MSCI EAFE ESG Leaders Equity ETF | 918,130 | 898,058 | ||||||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | 2,828,949 | 583,131 | ||||||
Xtrackers MSCI USA ESG Leaders Equity ETF | 85,676,610 | 88,158,745 | ||||||
Xtrackers S&P 500 ESG ETF | 6,387,476 | 6,375,574 | ||||||
Xtrackers S&P MidCap 400 ESG ETF | 9,992,556 | — | ||||||
Xtrackers S&P SmallCap 600 ESG ETF | 10,084,210 | 90,567 |
For the period ended February 28, 2021, the cost of in-kind purchases and proceeds from in-kind sales were as follows:
Purchases | Sales | |||||||
Xtrackers MSCI EAFE ESG Leaders Equity ETF | $ | 4,112,124 | $ | — | ||||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | 971,058 | — | ||||||
Xtrackers MSCI USA ESG Leaders Equity ETF | 371,747,429 | 103,441,899 | ||||||
Xtrackers S&P 500 ESG ETF | 195,816,932 | 12,487,509 |
5. Fund Share Transactions
As of February 28, 2021, there were unlimited Fund shares, no par value, authorized by the Trust. Fund shares are issued and redeemed by each Fund only in Creation Units or multiples thereof. Except when aggregated in Creation Units, shares of each Fund are not redeemable. Transactions in capital shares for each Fund are disclosed in detail in the Statements of Changes in Net Assets. The consideration for the purchase of Creation
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Notes to Financial Statements (Unaudited) (Continued)
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, 2021, 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 MSCI ACWI ex USA ESG Leaders Equity ETF | 48 | % | ||
Xtrackers S&P MidCap 400 ESG ETF | 100 | % | ||
Xtrackers S&P SmallCap 600 ESG ETF | 100 | % |
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 Stock Connect, an RQFII 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 November 2020, the President of the United States issued an executive order (“CCMC Order”) prohibiting US persons, including the Funds, from transacting in securities of any Chinese company identified by the Secretary of Defense as a “Communist Chinese military company” (“CCMC”) or in instruments that are derivative of, or are designed to provide investment exposure to, prohibited CCMC securities. The prohibition takes effect on January 11, 2021. To the extent that any company in an Underlying Index is identified as CCMC at any time, 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 MSCI ACWI ex USA ESG Leaders Equity 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 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
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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, 2021.
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 and increased government activity. Specifically, COVID-19 has led to significant death and morbidity, and concerns about its further spread have resulted in the closing of schools and non-essential businesses, cancellations, shelter-in place orders, lower consumer spending in certain sectors, social distancing, bans on large social gatherings and travel, quarantines, government economic stimulus measures, reduced productivity, rapid increases in unemployment, increased demand for and strain on government and medical resources, border closings and global trade and supply chain interruptions, among others. 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. The pandemic may 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. A Fund and its investments may be adversely affected by the effects of the COVID-19 pandemic, and a prolonged pandemic may result in a Fund and its 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 each Fund and reflect the consequences as appropriate in each Fund’s accounting and financial reporting.
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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 MSCI ACWI ex USA ESG Leaders Equity 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 2021, 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, 2019 through November 30, 2020 (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 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 2021, 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, 2019 through November 30, 2020 (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 late January 2020. The temporary reclassification of Chinese securities caused the Fund to exceed the 15% limit on illiquid investments for a three day period. A filing of Form N-LIQUID for the Fund was necessary because notification to the Fund’s board of the anticipated extended holiday closure was made after the start of the holiday closure in Taiwan. 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.
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Xtrackers MSCI ACWI ex USA ESG Leaders Equity 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
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 17-18, 2021 (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 MSCI ACWI ex USA ESG Leaders Equity 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, (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 17 and February 18, 2021. 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 Dechert LLP (“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.
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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 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 Hedged Equity ETF |
The Board considered, however, the following additional factors in connection with this Fund:
— | Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF’s advisory fees were almost 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.
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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.
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 November 17, 2020, the Trustees, all of who are not “interested persons,” as defined by the Investment Company Act of 1940, as amended (the “1940 Act”), of DBX ETF Trust (the “Trust”) or its service providers), unanimously approved the Investment Advisory Agreement with respect to Xtrackers S&P MidCap 400 ESG ETF and Xtrackers S&P SmallCap 600 ESG ETF (each a “Fund”, and together, the “Funds”). The Independent Trustees were advised throughout the review and meeting by K&L Gates LLP (“Independent Trustee Counsel”).
In reaching this decision, the Board considered all factors it believed relevant, including (1) the nature, extent and quality of the services to be provided to the Funds and their shareholders; (2) the financial resources of DBX Advisors LLC (“DBX” or the “Advisor”) and its resulting ability to perform its obligations under the Investment Advisory Agreement; (3) the competitiveness of the Funds’ advisory fee; (4) the total cost of the services to be provided by, and the anticipated profits to be realized, by the Advisor from its relationship with the Funds; (5) the extent to which economies of scale would be realized, and if the Funds’ shareholders would benefit from those economies.
The Board reached a determination, with the assistance of Dechert LLP (“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 the Funds 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.
Nature, Extent and Quality of Services. The Board reviewed in detail the nature, extent and quality of services to be provided by the Advisor under the Investment Advisory Agreement. 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.
The Board considered that the Advisor will provide, 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 will pay or arrange for the compensation of officers of the
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DBX ETF Trust
Board Considerations in Approval of Investment Advisory
Contracts (Unaudited) (Continued)
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 will provide 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.
Based on its review, the Board concluded that the nature, extent, and quality of services to be provided by the Advisor under the Investment Advisory Agreement are reasonable and appropriate in relation to the fee to be 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 its currently managed Funds, such as the administrator and the custodian (which would also provide those services to the Funds), noting the Advisor’s extensive work with these service providers (including onsite due diligence sessions) to conduct such supervision (which would cover the Funds as well). The Board further considered the compliance program of the Advisor, which supports the compliance program of the Advisor’s currently managed Funds (which would also cover the Funds).
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 to that of other pertinent exchange-traded funds (“ETFs”) and noted that each Fund’s fee is below the average and median fee of the ETFs in each Fund’s respective peer group. The Board accordingly noted that each Fund’s fee is competitive with the fees of its respective peer group. The Board agreed that it was familiar with the Advisor’s methodology for selecting the Funds’ peer group and believed that the Funds’ peer group was appropriate. The Board considered that the proposed fee for each Fund is a unitary fee pursuant to which the Advisor pays all of the Fund’s costs (subject to certain specified exceptions). The Board also considered that the Funds’ portfolios will be managed on a day-to-day basis by the Advisor and that the Advisor will also provide 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 to be provided.
Costs of Services and Profitability. The Board considered the anticipated expenses of the Advisor in developing and rendering services to be provided to the Funds and the likelihood and level of profits in the early years of the Funds’ operations. The Board noted that because the Funds are new, it is difficult to estimate the profitability of the Funds to the Advisor at this time. 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 noted that each Fund’s advisory fee was set at a competitive level that was designed to reflect scale in assets from the Fund’s commencement of operations. The Board noted that because the Funds are new, it is difficult to estimate whether the Funds would experience economies of scale beyond those already reflected in the advisory fee. The Board determined to evaluate economies of scale on an ongoing basis as a result of asset growth of the Funds.
Given all the information available to it and considering all material factors, the Board concluded that the Investment Advisory Agreement was fair and reasonable and it was unanimously approved.
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Additional Information (Unaudited)
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 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.
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DBX ETF Trust
This report is intended for the shareholders of the DBX ETF Trust.
This report must be preceded or accompanied by a prospectus.
Investing involves risk, including the possible loss of principal. ESG criteria in a Fund’s investment strategy does not guarantee a return or protect against loss. 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. These Funds are currently non-diversified and can take larger positions in fewer issues, increasing its potential risk. Funds investing in a single industry, country or in a limited geographic region generally are more volatile than more diversified funds. Performance of a Fund may diverge from that of its Underlying Index due to operating expenses, transaction costs, cash flows, use of sampling strategies or operational inefficiencies. An investment in any Fund should be considered only as a supplement to a complete investment program for those investors willing to accept the risks associated with the Fund. Please read the prospectus for more information.
War, terrorism, economic uncertainty, trade disputes, public health crises (including the recent pandemic spread of the novel coronavirus) and related geopolitical events could lead to increased market volatility, disruption to U.S. and world economies and markets and may have significant adverse effects on the Funds and their investments.
Shares of the Funds are bought and sold at market price (not NAV) throughout the day on the NYSE Arca, Inc. Transactions in Fund shares may result in brokerage commissions and may generate tax consequences. There can be no assurance that an active trading market for shares of a Fund will develop or be maintained.
DBX ETF Trust Funds are distributed by ALPS Distributors, Inc. (“ALPS”). The Funds are managed by DBX Advisors LLC which is not affiliated with ALPS.
The brand DWS represents DWS Group GmbH & Co. KGaA and any of its subsidiaries such as DWS Distributors, Inc. which offers investment products or Deutsche 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.
Copyright © 2021 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 5 Times Square New York, NY 10036 | Legal counsel Dechert LLP 1095 Avenue of the Americas New York, NY 10036 |
R-065808-3 (4/21) DBX004832 (4/22)
February 28, 2021
Semi-Annual Report
DBX ETF Trust
Xtrackers High Beta High Yield Bond ETF (HYUP)
Xtrackers Low Beta High Yield Bond ETF (HYDW)
Xtrackers Short Duration High Yield Bond ETF (SHYL)
Xtrackers USD High Yield Corporate Bond ETF (HYLB)
DBX ETF Trust
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To our Shareholders: (Unaudited)
Dear Shareholder,
We are pleased to provide this semi-annual report for four of our ETFs tracking the fixed income market for the period ended February 28, 2021.
The global economy started to recover from the COVID-19-induced contraction as the initiation of vaccination programs globally raised hopes the spread of the virus would be contained. Policy measures across the world supported struggling economies at the risk of widening government deficits. The U.S. economy grew moderately during the reporting period, as a slower-than-expected rollout of vaccines and spike in COVID-19 cases weighed on economic recovery. Nonetheless, increased consumer spending and private investments, along with healthy exports, proved to be growth engines. The Eurozone economy deteriorated amid pandemic-induced lockdowns, with significant declines posted by France and Italy. Delays in starting the vaccination campaign and concerns over the new virus variants weighed on economic sentiment, putting downward pressure on hiring.
The U.S. economy continued to recover, supported by systemic resilience, combined with earlier unimaginable doses of fiscal and monetary stimulus. Household spending picked up in January owing to a second round of one-time payments and extended unemployment benefits from the government. Labor markets showed a marginal improvement, but unemployment numbers remained considerably higher than pre-COVID-19 levels. In its January meeting, the Federal Reserve Board (“FRB”) recognized the uncertainty in vaccine rollout, as well as the spread of the virus and virus variants, as ongoing risks. In light of these risks, it maintained its accommodative stance and kept the target range for the federal funds rate unchanged at 0-0.25%. In addition to keeping rates near zero, the FRB maintained its commitment to buy assets worth at least USD120 billion each month and reaffirmed its plans to maintain its accommodative stance until substantial further progress has been made toward its goals of maximum employment and an inflation rate of 2% over the longer run. Also in January, President Joe Biden proposed a USD1.9 trillion COVID-19 recovery package, which follows the USD900 billion aid approved by the government in December.
High-yield credit spreads in the U.S. hit their lowest levels since January 2020, indicating strong demand for high-yield bonds, as investors sought better yields in the existing low-interest-rate environment. The 10-year U.S. Treasury yield continued to rise as investors grew increasingly bullish on the economy with the rollout of the COVID-19 vaccines. Expectations of a pickup in inflation further led to an increase in the benchmark yields and pushed down bond prices. The reimposition of lockdown measures and slow rollout of vaccines weighed on the Eurozone economy. Given this backdrop, the European Central Bank kept policy rates unchanged at near zero level, with room for additional stimulus, and bolstered its stimulus package, extending its Pandemic Emergency Purchase Programme to March, thereby enabling Eurozone governments to borrow at cheaper rates.
The review period began on a positive note; however, the renewed wave of COVID-19 outbreak and new variants of the virus pose concerns for the outlook. Given the challenges, continued accommodative fiscal and monetary policies are essential for global economic revival amid the long lasting adverse effects of the pandemic. That said, as a pickup in the pace of vaccination helps contain the spread of the virus and allows governments to ease lockdowns, economic activity could return to normal levels going forward. A revival in the economic cycle and good corporate earnings should further support the economic recovery.
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 High Beta High Yield Bond ETF (HYUP)
The Xtrackers High Beta High Yield Bond 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 USD High Yield Corporates Total Market High Beta Index (the “Underlying Index”). The Underlying Index is designed to track the performance of the segment of the U.S. dollar denominated high yield corporate bond market that exhibits higher overall beta to the broader high yield corporate fixed income market. It is not possible to invest directly into an index.
Quality* as of February 28, 2021 |
Description | % of Market Value | |||
BBB | 1.3% | |||
BB | 39.9% | |||
B | 45.0% | |||
CCC | 13.5% | |||
CC | 0.3% | |||
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| |||
Total | 100.0% |
The quality ratings represent the higher of Moody’s Investor Services, Inc. (“Moody’s”), Fitch Ratings, Inc. (“Fitch”) or S&P Global Ratings (“S&P”) credit ratings. The ratings of Moody’s, Fitch and S&P represent their opinions as to the quality of the securities they rate. Credit quality measures a bond issuer’s ability to repay interest and principal in a timely manner and is measured on a scale that ranges from AAA (highest) to D (lowest). Ratings are relative and subjective and are not absolute standards of quality. Credit quality does not remove market risk and is subject to change.
Country Diversification* as of February 28, 2021 |
United States | 87.0% | |||
Canada | 4.6% | |||
United Kingdom | 2.1% | |||
Other | 6.3% | |||
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| |||
Total | 100.0% |
Sector Diversification* as of February 28, 2021 |
Consumer, Cyclical | 23.2% | |||
Communications | 18.3% | |||
Consumer, Non-cyclical | 17.4% | |||
Energy | 12.4% | |||
Financial | 8.9% | |||
Industrial | 8.3% | |||
Basic Materials | 5.4% | |||
Technology | 3.7% | |||
Utilities | 2.3% | |||
Diversified | 0.1% | |||
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| |||
Total | 100.0% |
Modified duration as of February 28, 2021: 4.9 years Modified duration is an approximate measure of a fund’s sensitivity to movements in interest rates based on the current rate environment.
* 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 8.
3
DBX ETF Trust
Xtrackers Low Beta High Yield Bond ETF (HYDW)
The Xtrackers Low Beta High Yield Bond 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 USD High Yield Corporates Total Market Low Beta Index (the “Underlying Index”). The Underlying Index is designed to track the performance of the segment of the U.S. dollar denominated high yield corporate bond market that exhibits lower overall beta to the broader high yield corporate fixed income market. It is not possible to invest directly into an index.
Quality* as of February 28, 2021 |
Description | % of Market Value | |||
BBB | 13.6% | |||
BB | 79.2% | |||
B | 6.9% | |||
CCC | 0.3% | |||
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Total | 100.0% |
The quality ratings represent the higher of Moody’s Investor Services, Inc. (“Moody’s”), Fitch Ratings, Inc. (“Fitch”) or S&P Global Ratings (“S&P”) credit ratings. The ratings of Moody’s, Fitch and S&P represent their opinions as to the quality of the securities they rate. Credit quality measures a bond issuer’s ability to repay interest and principal in a timely manner and is measured on a scale that ranges from AAA (highest) to D (lowest). Ratings are relative and subjective and are not absolute standards of quality. Credit quality does not remove market risk and is subject to change.
Country Diversification* as of February 28, 2021 |
United States | 89.2% | |||
Netherlands | 2.4% | |||
Canada | 2.4% | |||
Other | 6.0% | |||
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Total | 100.0% |
Sector Diversification* as of February 28, 2021 |
Communications | 20.2% | |||
Consumer, Non-cyclical | 19.3% | |||
Consumer, Cyclical | 17.4% | |||
Energy | 13.4% | |||
Financial | 10.3% | |||
Industrial | 8.4% | |||
Technology | 4.2% | |||
Basic Materials | 3.7% | |||
Utilities | 3.1% | |||
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Total | 100.0% |
Modified duration as of February 28, 2021: 4.5 years Modified duration is an approximate measure of a fund’s sensitivity to movements in interest rates based on the current rate environment.
* 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 17.
4
DBX ETF Trust
Xtrackers Short Duration High Yield Bond ETF (SHYL)
The Xtrackers Short Duration High Yield Bond 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 USD High Yield Corporates Total Market 0-5 Year Index (the “Underlying Index”). The Underlying Index is designed to track the performance of short-term publicly issued U.S. dollar-denominated below investment grade corporate debt. It is not possible to invest directly into an index.
Quality* as of February 28, 2021 |
Description | % of Market Value | |||
BBB | 8.3% | |||
BB | 62.3% | |||
B | 20.6% | |||
CCC | 8.4% | |||
CC | 0.4% | |||
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Total | 100.0% |
The quality ratings represent the higher of Moody’s Investor Services, Inc. (“Moody’s”), Fitch Ratings, Inc. (“Fitch”) or S&P Global Ratings (“S&P”) credit ratings. The ratings of Moody’s, Fitch and S&P represent their opinions as to the quality of the securities they rate. Credit quality measures a bond issuer’s ability to repay interest and principal in a timely manner and is measured on a scale that ranges from AAA (highest) to D (lowest). Ratings are relative and subjective and are not absolute standards of quality. Credit quality does not remove market risk and is subject to change.
Country Diversification* as of February 28, 2021 |
United States | 88.1% | |||
Canada | 3.7% | |||
Netherlands | 3.1% | |||
Other | 5.1% | |||
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Total | 100.0% |
Sector Diversification* as of February 28, 2021 |
Consumer, Cyclical | 27.7% | |||
Communications | 14.6% | |||
Energy | 13.8% | |||
Consumer, Non-cyclical | 12.1% | |||
Financial | 11.0% | |||
Industrial | 9.0% | |||
Basic Materials | 5.2% | |||
Technology | 5.1% | |||
Utilities | 1.4% | |||
Diversified | 0.1% | |||
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Total | 100.0% |
Modified duration as of February 28, 2021: 2.7 years Modified duration is an approximate measure of a fund’s sensitivity to movements in interest rates based on the current rate environment.
* 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 28.
5
DBX ETF Trust
Xtrackers USD High Yield Corporate Bond ETF (HYLB)
The Xtrackers USD High Yield Corporate Bond 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 USD High Yield Corporates Total Market Index (the “Underlying Index”). The Underlying Index is designed to track the performance of a basket of U.S. dollar-denominated high yield liquid corporate bonds. It is not possible to invest directly into an index.
Quality* as of February 28, 2021 |
Description | % of Market Value | |||
BBB | 7.5% | |||
BB | 59.9% | |||
B | 25.6% | |||
CCC | 6.9% | |||
CC | 0.1% | |||
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Total | 100.0% |
The quality ratings represent the higher of Moody’s Investor Services, Inc. (“Moody’s”), Fitch Ratings, Inc. (“Fitch”) or S&P Global Ratings (“S&P”) credit ratings. The ratings of Moody’s, Fitch and S&P represent their opinions as to the quality of the securities they rate. Credit quality measures a bond issuer’s ability to repay interest and principal in a timely manner and is measured on a scale that ranges from AAA (highest) to D (lowest). Ratings are relative and subjective and are not absolute standards of quality. Credit quality does not remove market risk and is subject to change.
Country Diversification* as of February 28, 2021 |
United States | 87.6% | |||
Canada | 3.2% | |||
Netherlands | 2.4% | |||
Other | 6.8% | |||
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| |||
Total | 100.0% |
Sector Diversification* as of February 28, 2021 |
Consumer, Cyclical | 20.9% | |||
Communications | 19.2% | |||
Consumer, Non-cyclical | 18.0% | |||
Energy | 12.7% | |||
Financial | 9.4% | |||
Industrial | 8.4% | |||
Basic Materials | 4.4% | |||
Technology | 4.2% | |||
Utilities | 2.8% | |||
Diversified | 0.0% | |||
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Total | 100.0% |
Modified duration as of February 28, 2021: 4.7 years Modified duration is an approximate measure of a fund’s sensitivity to movements in interest rates based on the current rate environment.
* 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 37.
6
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 six-month period and held for the entire period (September 1, 2020 to February 28, 2021).
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, 2020 | Ending Account Value February 28, 2021 | Annualized Expense Ratio | Expenses Paid During the Period Per $1,000(1) | |||||||||||||
Xtrackers High Beta High Yield Bond ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,075.30 | 0.21 | % | $ | 1.08 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,023.75 | 0.21 | % | $ | 1.05 | ||||||||
Xtrackers Low Beta High Yield Bond ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,021.90 | 0.20 | % | $ | 1.00 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,023.80 | 0.20 | % | $ | 1.00 | ||||||||
Xtrackers Short Duration High Yield Bond ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,057.60 | 0.20 | % | $ | 1.02 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,023.80 | 0.20 | % | $ | 1.00 | ||||||||
Xtrackers USD High Yield Corporate Bond ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,047.90 | 0.15 | % | $ | 0.76 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,024.05 | 0.15 | % | $ | 0.75 |
(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.
7
DBX ETF Trust
Xtrackers High Beta High Yield Bond ETF
February 28, 2021 (Unaudited)
Principal | Value | |||||||
CORPORATE BONDS — 97.6% | ||||||||
Basic Materials — 5.3% | ||||||||
Chemicals — 2.8% | ||||||||
Axalta Coating Systems LLC, 144A, | $ | 11,000 | $ | 10,705 | ||||
Chemours Co. | 10,000 | 10,544 | ||||||
144A, 5.75%, 11/15/28 | 13,000 | 13,349 | ||||||
Consolidated Energy Finance SA, 144A, | 25,000 | 25,484 | ||||||
Hexion, Inc., 144A, | 3,000 | 3,186 | ||||||
Methanex Corp., | 25,000 | 25,688 | ||||||
NOVA Chemicals Corp., 144A, | 70,000 | 72,581 | ||||||
OCI NV, 144A, | 10,000 | 10,356 | ||||||
Olin Corp., | 25,000 | 27,000 | ||||||
TPC Group, Inc., 144A, | 15,000 | 13,717 | ||||||
Tronox, Inc., 144A, | 15,000 | 15,508 | ||||||
WR Grace & Co.-Conn, 144A, | 44,000 | 45,674 | ||||||
|
| |||||||
(Cost $269,066) | 273,792 | |||||||
|
| |||||||
Forest Products & Paper — 0.2% | ||||||||
Mercer International, Inc., 144A, | 15,000 | 15,281 | ||||||
|
| |||||||
Iron/Steel — 1.4% | ||||||||
Allegheny Technologies, Inc., | 10,000 | 10,929 | ||||||
Cleveland-Cliffs, Inc. | 25,000 | 29,250 | ||||||
144A, 6.75%, 3/15/26 | 30,000 | 32,175 | ||||||
144A, 4.875%, 3/1/31 | 10,000 | 9,804 | ||||||
United States Steel Corp. | 10,000 | 12,017 | ||||||
6.875%, 8/15/25 (a) | 15,000 | 14,812 | ||||||
6.25%, 3/15/26 (a) | 10,000 | 9,622 | ||||||
6.875%, 3/1/29 | 15,000 | 14,728 | ||||||
|
| |||||||
(Cost $125,499) | 133,337 | |||||||
|
| |||||||
Mining — 0.9% | ||||||||
Constellium SE | 25,000 | 25,435 | ||||||
144A, 3.75%, 4/15/29 | 10,000 | 9,940 | ||||||
Hudbay Minerals, Inc. | 15,000 | 15,645 | ||||||
144A, 6.125%, 4/1/29 | 10,000 | 10,802 | ||||||
Novelis Corp., 144A, | 25,000 | 26,102 | ||||||
|
| |||||||
(Cost $84,540) | 87,924 | |||||||
|
|
Principal | Value | |||||||
Communications — 17.9% | ||||||||
Advertising — 0.7% | ||||||||
Clear Channel Outdoor Holdings, Inc., 144A, | $ | 22,000 | $ | 22,318 | ||||
Outfront Media Capital LLC / Outfront Media Capital Corp. | 25,000 | 25,448 | ||||||
144A, 4.25%, 1/15/29 | 10,000 | 9,738 | ||||||
Terrier Media Buyer, Inc., 144A, | 15,000 | 16,088 | ||||||
|
| |||||||
(Cost $73,670) | 73,592 | |||||||
|
| |||||||
Internet — 1.3% | ||||||||
Arches Buyer, Inc., 144A, | 25,000 | 25,890 | ||||||
Photo Holdings Merger Sub, Inc., | 10,000 | 10,745 | ||||||
Uber Technologies, Inc. | 30,000 | 32,498 | ||||||
144A, 7.50%, 9/15/27 | 50,000 | 54,656 | ||||||
|
| |||||||
(Cost $117,978) | 123,789 | |||||||
|
| |||||||
Media — 10.1% | ||||||||
AMC Networks, Inc. | 25,000 | 25,750 | ||||||
4.25%, 2/15/29 | 15,000 | 14,744 | ||||||
CCO Holdings LLC / CCO Holdings Capital Corp. | 60,000 | 60,825 | ||||||
144A, 4.50%, 5/1/32 | 50,000 | 51,437 | ||||||
Cengage Learning, Inc., 144A, | 10,000 | 9,944 | ||||||
Clear Channel Worldwide Holdings, Inc., | 50,000 | 52,156 | ||||||
CSC Holdings LLC | 50,000 | 53,438 | ||||||
144A, 4.125%, 12/1/30 | 31,000 | 31,155 | ||||||
144A, 4.625%, 12/1/30 | 40,000 | 39,895 | ||||||
144A, 3.375%, 2/15/31 | 26,000 | 24,992 | ||||||
Diamond Sports Group LLC / Diamond Sports Finance Co. | 50,000 | 35,423 | ||||||
144A, 6.625%, 8/15/27 (a) | 25,000 | 12,906 | ||||||
DISH DBS Corp. | 70,000 | 73,433 | ||||||
7.75%, 7/1/26 (a) | 25,000 | 27,544 | ||||||
Gray Television, Inc., 144A, | 15,000 | 14,949 | ||||||
iHeartCommunications, Inc., | 50,000 | 53,082 | ||||||
LCPR Senior Secured Financing DAC, 144A, | 30,000 | 32,250 | ||||||
Meredith Corp., | 25,000 | 25,555 | ||||||
Nexstar Broadcasting, Inc. | 25,000 | 26,445 | ||||||
144A, 4.75%, 11/1/28 | 20,000 | 20,463 |
See Notes to Financial Statements. | 8 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Media (Continued) | ||||||||
Radiate Holdco LLC / Radiate Finance, Inc., 144A, | $ | 30,000 | $ | 30,450 | ||||
Scripps Escrow II, Inc., 144A, | 15,000 | 15,272 | ||||||
Sinclair Television Group, Inc. | 25,000 | 25,141 | ||||||
144A, 4.125%, 12/1/30 | 15,000 | 14,672 | ||||||
TEGNA, Inc. | 25,000 | 25,687 | ||||||
5.00%, 9/15/29 | 20,000 | 20,869 | ||||||
Univision Communications, Inc. | 50,000 | 50,141 | ||||||
144A, 6.625%, 6/1/27 | 10,000 | 10,444 | ||||||
UPC Holding BV, 144A, | 10,000 | 10,306 | ||||||
Virgin Media Finance PLC, 144A, | 15,000 | 15,281 | ||||||
Virgin Media Secured Finance PLC | 30,000 | 32,202 | ||||||
144A, 4.50%, 8/15/30 | 17,000 | 17,400 | ||||||
Ziggo BV, 144A, | 15,000 | 15,684 | ||||||
|
| |||||||
(Cost $977,015) | 969,935 | |||||||
|
| |||||||
Telecommunications — 5.8% | ||||||||
Altice France Holding SA, 144A, | 25,000 | 24,515 | ||||||
Altice France SA | 30,000 | 32,735 | ||||||
144A, 5.125%, 1/15/29 | 25,000 | 25,185 | ||||||
Avaya, Inc., 144A, | 20,000 | 21,562 | ||||||
C&W Senior Financing DAC, 144A, | 25,000 | 26,828 | ||||||
CommScope Technologies LLC | 20,000 | 20,398 | ||||||
144A, 5.00%, 3/15/27 | 35,000 | 34,351 | ||||||
CommScope, Inc., 144A, | 50,000 | 52,628 | ||||||
Connect Finco SARL / Connect US Finco LLC, 144A, | 40,000 | 41,525 | ||||||
Frontier Communications Corp. | 15,000 | 16,078 | ||||||
144A, 5.00%, 5/1/28 | 27,000 | 27,928 | ||||||
144A, 6.75%, 5/1/29 | 18,000 | 18,844 | ||||||
Gogo Intermediate Holdings LLC / Gogo Finance Co., Inc., 144A, | 15,000 | 15,854 | ||||||
GTT Communications, Inc., 144A, | 15,000 | 2,906 | ||||||
Hughes Satellite Systems Corp., | 25,000 | 27,972 | ||||||
Level 3 Financing, Inc. | 20,000 | 19,738 | ||||||
144A, 3.75%, 7/15/29 | 10,000 | 9,988 |
Principal | Value | |||||||
Telecommunications (Continued) | ||||||||
Lumen Technologies, Inc., 144A, | $ | 20,000 | $ | 20,012 | ||||
ViaSat, Inc., 144A, | 25,000 | 25,531 | ||||||
Vmed O2 UK Financing I PLC, 144A, | 25,000 | 24,500 | ||||||
Windstream Escrow LLC / Windstream Escrow Finance Corp., 144A, | 25,000 | 25,641 | ||||||
Zayo Group Holdings, Inc. | 25,000 | 24,926 | ||||||
144A, 6.125%, 3/1/28 (a) | 15,000 | 15,492 | ||||||
|
| |||||||
(Cost $559,106) | 555,137 | |||||||
|
| |||||||
Consumer, Cyclical — 22.6% | ||||||||
Airlines — 1.6% | ||||||||
American Airlines, Inc., 144A, | 63,000 | 75,048 | ||||||
Delta Air Lines, Inc., | 50,000 | 58,343 | ||||||
Hawaiian Brand Intellectual Property Ltd. / HawaiianMiles Loyalty Ltd., 144A, | 20,000 | 21,113 | ||||||
|
| |||||||
(Cost $127,722) | 154,504 | |||||||
|
| |||||||
Auto Manufacturers — 0.7% | ||||||||
Ford Motor Co., | 15,000 | 21,245 | ||||||
Ford Motor Credit Co. LLC, | 25,000 | 27,406 | ||||||
Jaguar Land Rover Automotive PLC, 144A, | 20,000 | 19,308 | ||||||
|
| |||||||
(Cost $65,549) | 67,959 | |||||||
|
| |||||||
Auto Parts & Equipment — 1.5% | ||||||||
Adient Global Holdings Ltd., 144A, | 25,000 | 25,281 | ||||||
American Axle & Manufacturing, Inc., | 37,000 | 38,679 | ||||||
Clarios Global LP / Clarios US Finance Co., 144A, | 35,000 | 37,823 | ||||||
Goodyear Tire & Rubber Co., | 25,000 | 26,172 | ||||||
Tenneco, Inc. | 10,000 | 9,416 | ||||||
144A, 7.875%, 1/15/29 | 9,000 | 10,105 | ||||||
|
| |||||||
(Cost $144,869) | 147,476 | |||||||
|
| |||||||
Distribution/Wholesale — 0.8% | ||||||||
H&E Equipment Services, Inc., 144A, | 21,000 | 20,228 | ||||||
Performance Food Group, Inc., 144A, | 20,000 | 21,062 | ||||||
Wolverine Escrow LLC | 5,000 | 4,897 | ||||||
144A, 9.00%, 11/15/26 | 25,000 | 24,641 | ||||||
144A, 13.125%, 11/15/27 | 10,000 | 8,322 | ||||||
|
| |||||||
(Cost $77,659) | 79,150 | |||||||
|
|
See Notes to Financial Statements. | 9 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Entertainment — 4.6% | ||||||||
Caesars Entertainment, Inc. | $ | 50,000 | $ | 53,000 | ||||
144A, 8.125%, 7/1/27 (a) | 50,000 | 54,597 | ||||||
Caesars Resort Collection LLC / CRC Finco, Inc. | 25,000 | 26,281 | ||||||
144A, 5.25%, 10/15/25 | 10,000 | 9,940 | ||||||
Cedar Fair LP / Canada’s Wonderland Co. / Magnum Management Corp. / Millennium Op, 144A, | 45,000 | 47,222 | ||||||
Cinemark USA, Inc., | 20,000 | 19,832 | ||||||
Lions Gate Capital Holdings LLC, 144A, | 15,000 | 15,320 | ||||||
Live Nation Entertainment, Inc. | 23,000 | 25,417 | ||||||
144A, 4.75%, 10/15/27 | 25,000 | 25,294 | ||||||
Mohegan Gaming & Entertainment, 144A, | 25,000 | 24,691 | ||||||
Scientific Games International, Inc., 144A, | 80,000 | 84,939 | ||||||
Six Flags Entertainment Corp., 144A, | 40,000 | 40,098 | ||||||
Wynn Resorts Finance LLC / Wynn Resorts Capital Corp., 144A, | 15,000 | 15,806 | ||||||
|
| |||||||
(Cost $430,450) | 442,437 | |||||||
|
| |||||||
Food Service — 0.7% | ||||||||
Aramark Services, Inc. | 27,000 | 28,553 | ||||||
4.75%, 6/1/26 | 15,000 | 15,247 | ||||||
144A, 5.00%, 2/1/28 (a) | 20,000 | 20,525 | ||||||
|
| |||||||
(Cost $63,689) | 64,325 | |||||||
|
| |||||||
Home Builders — 0.6% | ||||||||
Brookfield Residential Properties, Inc. / Brookfield Residential US Corp., 144A, | 25,000 | 26,391 | ||||||
Mattamy Group Corp., 144A, | 9,000 | 9,364 | ||||||
Taylor Morrison Communities, Inc., 144A, | 9,000 | 9,679 | ||||||
Williams Scotsman International, Inc., 144A, | 9,000 | 9,264 | ||||||
|
| |||||||
(Cost $53,477) | 54,698 | |||||||
|
| |||||||
Leisure Time — 4.3% | ||||||||
Carnival Corp. 144A, | 75,000 | 85,609 | ||||||
144A, 10.50%, 2/1/26 | 10,000 | 11,637 | ||||||
144A, 7.625%, 3/1/26 | 25,000 | 26,312 | ||||||
144A, 5.75%, 3/1/27 | 60,000 | 60,975 | ||||||
144A, 9.875%, 8/1/27 | 15,000 | 17,270 | ||||||
Life Time, Inc. | 15,000 | 15,281 | ||||||
144A, 8.00%, 4/15/26 | 10,000 | 10,150 |
Principal | Value | |||||||
Leisure Time (Continued) | ||||||||
NCL Corp. Ltd. | $ | 8,000 | $ | 7,493 | ||||
144A, 10.25%, 2/1/26 | 25,000 | 29,125 | ||||||
144A, 5.875%, 3/15/26 | 20,000 | 20,144 | ||||||
Royal Caribbean Cruises Ltd. | 50,000 | 54,938 | ||||||
144A, 11.50%, 6/1/25 | 42,000 | 49,193 | ||||||
3.70%, 3/15/28 | 8,000 | 7,595 | ||||||
Viking Cruises Ltd., 144A, | 25,000 | 24,114 | ||||||
|
| |||||||
(Cost $401,283) | 419,836 | |||||||
|
| |||||||
Lodging — 3.0% | ||||||||
Boyd Gaming Corp., | 50,000 | 51,907 | ||||||
Diamond Resorts International, Inc., 144A, | 25,000 | 25,703 | ||||||
Hilton Domestic Operating Co., Inc., 144A, | 15,000 | 14,817 | ||||||
Melco Resorts Finance Ltd., 144A, | 28,000 | 29,681 | ||||||
MGM Resorts International | 20,000 | 21,722 | ||||||
4.75%, 10/15/28 | 20,000 | 20,854 | ||||||
Station Casinos LLC, 144A, | 25,000 | 24,953 | ||||||
Travel + Leisure Co., 144A, | 25,000 | 28,251 | ||||||
Wyndham Hotels & Resorts, Inc., 144A, | 9,000 | 9,219 | ||||||
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp. | 20,000 | 20,238 | ||||||
144A, 5.25%, 5/15/27 | 40,000 | 42,554 | ||||||
|
| |||||||
(Cost $276,328) | 289,899 | |||||||
|
| |||||||
Retail — 4.8% | ||||||||
1011778 BC ULC / New Red Finance, Inc., 144A, | 50,000 | 48,828 | ||||||
Beacon Roofing Supply, Inc., 144A, | 25,000 | 25,220 | ||||||
Carvana Co. | 15,000 | 15,656 | ||||||
144A, 5.875%, 10/1/28 | 10,000 | 10,498 | ||||||
eG Global Finance PLC, 144A, | 21,000 | 21,606 | ||||||
Ferrellgas LP / Ferrellgas Finance Corp. | 10,000 | 10,019 | ||||||
144A, 10.00%, 4/15/25 | 25,000 | 27,781 | ||||||
Golden Nugget, Inc., 144A, | 25,000 | 25,453 | ||||||
L Brands, Inc. | 15,000 | 16,078 | ||||||
7.50%, 6/15/29 (a) | 25,000 | 28,292 | ||||||
144A, 6.625%, 10/1/30 | 10,000 | 11,244 | ||||||
Macy’s Retail Holdings LLC, | 50,000 | 49,761 |
See Notes to Financial Statements. | 10 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Retail (Continued) | ||||||||
Michaels Stores, Inc., 144A, | $ | 12,000 | $ | 12,830 | ||||
Party City Holdings, Inc., 144A, | 10,000 | 10,219 | ||||||
PetSmart, Inc. / PetSmart Finance Corp. | 20,000 | 20,744 | ||||||
144A, 7.75%, 2/15/29 | 20,000 | 21,478 | ||||||
Rite Aid Corp., 144A, | 25,000 | 26,359 | ||||||
Staples, Inc. | 50,000 | 50,185 | ||||||
144A, 10.75%, 4/15/27 | 5,000 | 4,781 | ||||||
Yum! Brands, Inc., | 23,000 | 22,138 | ||||||
|
| |||||||
(Cost $439,798) | 459,170 | |||||||
|
| |||||||
Consumer, Non-cyclical — 17.0% | ||||||||
Agriculture — 0.2% | ||||||||
Vector Group Ltd., 144A, | 20,000 | 20,762 | ||||||
|
| |||||||
Commercial Services — 3.1% | ||||||||
Allied Universal Holdco LLC / Allied Universal Finance Corp. | 43,000 | 45,580 | ||||||
144A, 9.75%, 7/15/27 | 20,000 | 22,106 | ||||||
APX Group, Inc., 144A, | 25,000 | 26,656 | ||||||
Garda World Security Corp., 144A, | 17,000 | 16,915 | ||||||
Gartner, Inc., 144A, | 15,000 | 15,206 | ||||||
MPH Acquisition Holdings LLC, 144A, | 23,000 | 22,856 | ||||||
Nielsen Finance LLC / Nielsen Finance Co. | 25,000 | 26,484 | ||||||
144A, 5.875%, 10/1/30 | 15,000 | 16,247 | ||||||
Prime Security Services Borrower LLC / Prime Finance, Inc., 144A, | 25,000 | 25,933 | ||||||
Sabre GLBL, Inc. | 25,000 | 29,688 | ||||||
144A, 7.375%, 9/1/25 | 5,000 | 5,383 | ||||||
Team Health Holdings, Inc., 144A, | 15,000 | 13,584 | ||||||
Verscend Escrow Corp., 144A, | 25,000 | 26,904 | ||||||
|
| |||||||
(Cost $283,861) | 293,542 | |||||||
|
| |||||||
Cosmetics/Personal Care — 0.4% | ||||||||
Coty, Inc., 144A, | 15,000 | 14,814 | ||||||
Edgewell Personal Care Co., 144A, | 25,000 | 26,570 | ||||||
|
| |||||||
(Cost $40,653) | 41,384 | |||||||
|
|
Principal | Value | |||||||
Food — 2.3% | ||||||||
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC | $ | 27,000 | $ | 27,991 | ||||
144A, 3.50%, 3/15/29 | 11,000 | 10,582 | ||||||
144A, 4.875%, 2/15/30 | 25,000 | 25,882 | ||||||
B&G Foods, Inc., | 10,000 | 10,502 | ||||||
Post Holdings, Inc. | 20,000 | 20,880 | ||||||
144A, 5.75%, 3/1/27 | 29,000 | 30,422 | ||||||
144A, 4.625%, 4/15/30 | 50,000 | 50,813 | ||||||
Sigma Holdco BV, 144A, | 10,000 | 10,253 | ||||||
TreeHouse Foods, Inc., | 10,000 | 10,296 | ||||||
US Foods, Inc., 144A, | 25,000 | 26,690 | ||||||
|
| |||||||
(Cost $222,563) | 224,311 | |||||||
|
| |||||||
Healthcare-Services — 5.9% | ||||||||
Acadia Healthcare Co., Inc., 144A, | 25,000 | 26,422 | ||||||
CHS/Community Health Systems, Inc. | 30,000 | 31,350 | ||||||
144A, 8.00%, 3/15/26 | 35,000 | 37,485 | ||||||
144A, 5.625%, 3/15/27 | 40,000 | 42,177 | ||||||
144A, 8.00%, 12/15/27 | 15,000 | 16,472 | ||||||
144A, 6.875%, 4/1/28 (a) | 5,000 | 4,491 | ||||||
144A, 6.00%, 1/15/29 | 20,000 | 21,225 | ||||||
144A, 6.875%, 4/15/29 | 35,000 | 36,006 | ||||||
144A, 4.75%, 2/15/31 | 20,000 | 19,719 | ||||||
DaVita, Inc. | 31,000 | 31,523 | ||||||
144A, 3.75%, 2/15/31 | 27,000 | 25,849 | ||||||
Encompass Health Corp., | 15,000 | 15,893 | ||||||
Envision Healthcare Corp., 144A, | 20,000 | 14,371 | ||||||
MEDNAX, Inc., 144A, | 25,000 | 26,437 | ||||||
Radiology Partners, Inc., 144A, | 15,000 | 16,408 | ||||||
RegionalCare Hospital Partners Holdings, Inc. / LifePoint Health, Inc., 144A, | 50,000 | 53,980 | ||||||
Select Medical Corp., 144A, | 25,000 | 26,788 | ||||||
Surgery Center Holdings, Inc., 144A, | 10,000 | 11,144 | ||||||
Tenet Healthcare Corp. | 25,000 | 25,281 | ||||||
144A, 6.25%, 2/1/27 | 15,000 | 15,804 | ||||||
144A, 4.625%, 6/15/28 | 10,000 | 10,383 | ||||||
144A, 6.125%, 10/1/28 | 50,000 | 52,623 | ||||||
|
| |||||||
(Cost $539,169) | 561,831 | |||||||
|
|
See Notes to Financial Statements. | 11 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Household Products/Wares — 0.2% | ||||||||
Kronos Acquisition Holdings, Inc. / KIK Custom Products, Inc., 144A, | $ | 20,000 | $ | 19,820 | ||||
|
| |||||||
Pharmaceuticals — 4.9% | ||||||||
Bausch Health Americas, Inc., 144A, | 85,000 | 94,152 | ||||||
Bausch Health Cos., Inc. | 60,000 | 61,418 | ||||||
144A, 5.25%, 1/30/30 | 75,000 | 76,209 | ||||||
144A, 5.25%, 2/15/31 | 35,000 | 35,613 | ||||||
Cheplapharm Arzneimittel GmbH, 144A, | 10,000 | 10,212 | ||||||
Endo Dac / Endo Finance LLC / Endo Finco, Inc. | 15,000 | 16,922 | ||||||
144A, 6.00%, 6/30/28 | 15,000 | 13,185 | ||||||
Par Pharmaceutical, Inc., 144A, | 50,000 | 53,816 | ||||||
Teva Pharmaceutical Finance Netherlands III BV, 3.15%, 10/1/26 | 115,000 | 107,986 | ||||||
|
| |||||||
(Cost $460,878) | 469,513 | |||||||
|
| |||||||
Diversified — 0.1% | ||||||||
Holding Companies-Diversified — 0.1% | ||||||||
Stena AB, 144A, | 10,000 | 9,887 | ||||||
|
| |||||||
Energy — 12.1% | ||||||||
Energy-Alternate Sources — 0.1% | ||||||||
TerraForm Power Operating LLC, 144A, | 10,000 | 10,551 | ||||||
|
| |||||||
Oil & Gas — 8.1% | ||||||||
Antero Resources Corp., 144A, | 30,000 | 32,044 | ||||||
Ascent Resources Utica Holdings LLC / ARU Finance Corp., 144A, | 10,000 | 10,019 | ||||||
Callon Petroleum Co., | 25,000 | 21,812 | ||||||
Calumet Specialty Products Partners LP / Calumet Finance Corp., 144A, | 15,000 | 15,223 | ||||||
Citgo Holding, Inc., 144A, | 15,000 | 14,803 | ||||||
CITGO Petroleum Corp. | 7,000 | 7,020 | ||||||
144A, 7.00%, 6/15/25 | 23,000 | 23,750 | ||||||
144A, 6.375%, 6/15/26 | 20,000 | 20,325 | ||||||
CNX Resources Corp., 144A, | 21,000 | 22,496 | ||||||
Comstock Resources, Inc., 144A, | 45,000 | 46,997 | ||||||
CrownRock LP / CrownRock Finance, Inc., 144A, | 22,000 | 22,262 |
Principal | Value | |||||||
Oil & Gas (Continued) | ||||||||
CVR Energy, Inc., 144A, | $ | 15,000 | $ | 14,827 | ||||
EQT Corp., | 14,000 | 18,329 | ||||||
Hilcorp Energy I LP / Hilcorp Finance Co., 144A, | 20,000 | 20,363 | ||||||
Laredo Petroleum, Inc., | 15,000 | 14,278 | ||||||
Leviathan Bond Ltd., 144A, REGS, | 11,000 | 12,216 | ||||||
Matador Resources Co., | 25,000 | 24,406 | ||||||
MEG Energy Corp. | 15,000 | 15,487 | ||||||
144A, 7.125%, 2/1/27 | 25,000 | 26,448 | ||||||
Moss Creek Resources Holdings, Inc., 144A, | 25,000 | 20,797 | ||||||
Murphy Oil Corp., | 30,000 | 29,778 | ||||||
Nabors Industries Ltd., 144A, | 25,000 | 22,242 | ||||||
Occidental Petroleum Corp. | 50,000 | 59,954 | ||||||
8.875%, 7/15/30 | 20,000 | 25,600 | ||||||
6.625%, 9/1/30 | 30,000 | 34,170 | ||||||
6.125%, 1/1/31 | 25,000 | 27,766 | ||||||
PBF Holding Co. LLC / PBF Finance Corp., | 50,000 | 31,844 | ||||||
Range Resources Corp. | 27,000 | 27,186 | ||||||
9.25%, 2/1/26 | 30,000 | 32,684 | ||||||
SM Energy Co., | 25,000 | 23,747 | ||||||
Southwestern Energy Co., | 37,000 | 38,919 | ||||||
Transocean, Inc., 144A, | 31,000 | 25,621 | ||||||
|
| |||||||
(Cost $765,278) | 783,413 | |||||||
|
| |||||||
Oil & Gas Services — 1.3% | ||||||||
Archrock Partners LP / Archrock Partners Finance Corp. 144A, | 10,000 | 10,577 | ||||||
144A, 6.25%, 4/1/28 | 16,000 | 16,700 | ||||||
TechnipFMC PLC, 144A, | 20,000 | 20,915 | ||||||
USA Compression Partners LP / USA Compression Finance Corp. | 12,000 | 12,413 | ||||||
6.875%, 9/1/27 | 19,000 | 19,982 | ||||||
Weatherford International Ltd., 144A, | 40,000 | 39,388 | ||||||
|
| |||||||
(Cost $116,493) | 119,975 | |||||||
|
| |||||||
Pipelines — 2.6% | ||||||||
Antero Midstream Partners LP / Antero Midstream Finance Corp. | 25,000 | 25,250 |
See Notes to Financial Statements. | 12 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Pipelines (Continued) | ||||||||
144A, 5.75%, 3/1/27 | $ | 25,000 | $ | 25,141 | ||||
Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp. | 10,000 | 9,931 | ||||||
144A, 6.00%, 2/1/29 | 20,000 | 19,825 | ||||||
EnLink Midstream Partners LP, | 45,000 | 44,775 | ||||||
EQM Midstream Partners LP, 144A, | 20,000 | 19,300 | ||||||
Genesis Energy LP / Genesis Energy Finance Corp. | 25,000 | 24,304 | ||||||
8.00%, 1/15/27 | 10,000 | 10,127 | ||||||
7.75%, 2/1/28 | 5,000 | 4,945 | ||||||
New Fortress Energy, Inc., 144A, | 28,000 | 29,098 | ||||||
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp. | 20,000 | 19,708 | ||||||
144A, 6.00%, 12/31/30 | 15,000 | 14,942 | ||||||
|
| |||||||
(Cost $227,737) | 247,346 | |||||||
|
| |||||||
Financial — 8.7% | ||||||||
Banks — 0.4% | ||||||||
Freedom Mortgage Corp. | 25,000 | 26,062 | ||||||
144A, 7.625%, 5/1/26 | 10,000 | 10,713 | ||||||
|
| |||||||
(Cost $35,495) | 36,775 | |||||||
|
| |||||||
Diversified Financial Services — 1.4% | ||||||||
Nationstar Mortgage Holdings, Inc. | 15,000 | 15,776 | ||||||
144A, 5.125%, 12/15/30 | 15,000 | 15,321 | ||||||
Navient Corp. | 35,000 | 38,041 | ||||||
5.00%, 3/15/27 | 15,000 | 14,721 | ||||||
4.875%, 3/15/28 | 15,000 | 14,472 | ||||||
NFP Corp., 144A, | 26,000 | 26,882 | ||||||
PennyMac Financial Services, Inc., 144A, | 10,000 | 9,902 | ||||||
|
| |||||||
(Cost $132,008) | 135,115 | |||||||
|
| |||||||
Insurance — 1.1% | ||||||||
Acrisure LLC / Acrisure Finance, Inc. | 25,000 | 25,672 | ||||||
144A, 4.25%, 2/15/29 | 15,000 | 14,759 | ||||||
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 144A, | 25,000 | 25,900 | ||||||
AssuredPartners, Inc., 144A, | 10,000 | 10,063 | ||||||
HUB International Ltd., 144A, | 29,000 | 30,244 | ||||||
|
| |||||||
(Cost $104,745) | 106,638 | |||||||
|
|
Principal | Value | |||||||
Real Estate — 0.8% | ||||||||
Howard Hughes Corp. | $ | 10,000 | $ | 9,939 | ||||
144A, 4.375%, 2/1/31 | 10,000 | 9,990 | ||||||
Kennedy-Wilson, Inc. | 10,000 | 10,320 | ||||||
5.00%, 3/1/31 | 10,000 | 10,338 | ||||||
Realogy Group LLC / Realogy Co.-Issuer Corp. | 25,000 | 27,553 | ||||||
144A, 5.75%, 1/15/29 | 10,000 | 10,059 | ||||||
|
| |||||||
(Cost $76,703) | 78,199 | |||||||
|
| |||||||
Real Estate Investment Trusts — 4.4% | ||||||||
Diversified Healthcare Trust, | 15,000 | 14,812 | ||||||
EPR Properties | 8,000 | 8,295 | ||||||
4.50%, 6/1/27 (a) | 8,000 | 8,155 | ||||||
4.95%, 4/15/28 | 7,000 | 7,187 | ||||||
3.75%, 8/15/29 | 9,000 | 8,559 | ||||||
ESH Hospitality, Inc., 144A, | 18,000 | 18,304 | ||||||
Iron Mountain, Inc. | 17,000 | 17,357 | ||||||
144A, 5.25%, 7/15/30 | 25,000 | 25,750 | ||||||
144A, 4.50%, 2/15/31 | 13,000 | 12,984 | ||||||
144A, 5.625%, 7/15/32 | 15,000 | 15,898 | ||||||
iStar, Inc., | 25,000 | 25,701 | ||||||
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp. | 10,000 | 10,069 | ||||||
144A, 4.25%, 2/1/27 | 10,000 | 9,675 | ||||||
Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co.-Issuer | 15,000 | 16,291 | ||||||
144A, 5.875%, 10/1/28 | 15,000 | 15,741 | ||||||
RHP Hotel Properties LP / RHP Finance Corp. | 16,000 | 16,248 | ||||||
144A, 4.50%, 2/15/29 | 10,000 | 9,929 | ||||||
Service Properties Trust | 85,000 | 96,501 | ||||||
5.50%, 12/15/27 | 8,000 | 8,599 | ||||||
Uniti Group LP / Uniti Fiber Holdings, Inc. / CSL Capital LLC, 144A, | 50,000 | 53,952 | ||||||
Uniti Group LP / Uniti Group Finance, Inc. / CSL Capital LLC, 144A, | 20,000 | 20,244 | ||||||
|
| |||||||
(Cost $401,561) | 420,251 | |||||||
|
| |||||||
Venture Capital — 0.6% | ||||||||
Icahn Enterprises LP / Icahn Enterprises Finance Corp. | 32,000 | 33,706 | ||||||
5.25%, 5/15/27 | 26,000 | 27,365 | ||||||
|
| |||||||
(Cost $61,298) | 61,071 | |||||||
|
|
See Notes to Financial Statements. | 13 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Industrial — 8.1% | ||||||||
Aerospace/Defense — 2.3% | ||||||||
Rolls-Royce PLC | $ | 20,000 | $ | 20,075 | ||||
144A, 5.75%, 10/15/27 | 20,000 | 21,650 | ||||||
Signature Aviation US Holdings, Inc., 144A, | 10,000 | 10,250 | ||||||
Spirit AeroSystems, Inc. | 25,000 | 26,500 | ||||||
4.60%, 6/15/28 | 15,000 | 14,528 | ||||||
TransDigm, Inc. | 75,000 | 77,404 | ||||||
5.50%, 11/15/27 | 25,000 | 25,719 | ||||||
Triumph Group, Inc., 144A, | 25,000 | 25,219 | ||||||
|
| |||||||
(Cost $212,572) | 221,345 | |||||||
|
| |||||||
Building Materials — 0.5% | ||||||||
Cornerstone Building Brands, Inc., 144A, | 20,000 | 20,538 | ||||||
Standard Industries, Inc., 144A, | 17,000 | 16,295 | ||||||
Summit Materials LLC / Summit Materials Finance Corp., 144A, | 10,000 | 10,625 | ||||||
|
| |||||||
(Cost $47,374) | 47,458 | |||||||
|
| |||||||
Electrical Components & Equipment — 0.3% | ||||||||
Energizer Holdings, Inc. | 11,000 | 11,258 | ||||||
144A, 4.375%, 3/31/29 | 14,000 | 13,986 | ||||||
|
| |||||||
(Cost $26,243) | 25,244 | |||||||
|
| |||||||
Engineering & Construction — 0.4% | ||||||||
Brand Industrial Services, Inc., 144A, | 25,000 | 25,062 | ||||||
Fluor Corp., | 15,000 | 15,338 | ||||||
|
| |||||||
(Cost $38,915) | 40,400 | |||||||
|
| |||||||
Environmental Control — 0.4% | ||||||||
Covanta Holding Corp. | 24,000 | 25,045 | ||||||
5.00%, 9/1/30 | 10,000 | 10,388 | ||||||
|
| |||||||
(Cost $35,317) | 35,433 | |||||||
|
| |||||||
Machinery-Diversified — 0.4% | ||||||||
Maxim Crane Works Holdings Capital LLC, 144A, | 10,000 | 10,526 | ||||||
Vertical US Newco, Inc., 144A, | 31,000 | 32,376 | ||||||
|
| |||||||
(Cost $43,070) | 42,902 | |||||||
|
| |||||||
Miscellaneous Manufacturing — 1.4% | ||||||||
Bombardier, Inc. | 50,000 | 49,512 | ||||||
144A, 7.50%, 3/15/25 | 20,000 | 18,319 | ||||||
144A, 7.875%, 4/15/27 | 50,000 | 44,962 |
Principal | Value | |||||||
Miscellaneous Manufacturing (Continued) | ||||||||
FXI Holdings, Inc. | $ | 10,000 | $ | 10,175 | ||||
144A, 12.25%, 11/15/26 | 10,000 | 11,361 | ||||||
|
| |||||||
(Cost $138,384) | 134,329 | |||||||
|
| |||||||
Packaging & Containers — 2.0% | ||||||||
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc., 144A, | 45,000 | 46,648 | ||||||
Cascades, Inc./Cascades USA, Inc., 144A, | 15,000 | 15,872 | ||||||
Flex Acquisition Co., Inc., 144A, | 25,000 | 25,388 | ||||||
LABL Escrow Issuer LLC, 144A, | 25,000 | 27,961 | ||||||
Mauser Packaging Solutions Holding Co., 144A, | 40,000 | 39,575 | ||||||
Reynolds Group Issuer, Inc. / Reynolds Group Issuer LLC / Reynolds Group Issuer Lu, 144A, | 16,000 | 15,980 | ||||||
Trivium Packaging Finance BV, 144A, | 21,000 | 22,009 | ||||||
|
| |||||||
(Cost $191,204) | 193,433 | |||||||
|
| |||||||
Transportation — 0.2% | ||||||||
Cargo Aircraft Management, Inc., 144A, | 7,000 | 7,276 | ||||||
Kenan Advantage Group, Inc., 144A, | 10,000 | 9,936 | ||||||
|
| |||||||
(Cost $17,276) | 17,212 | |||||||
|
| |||||||
Trucking & Leasing — 0.2% | ||||||||
Fortress Transportation and Infrastructure Investors LLC, 144A, | 20,000 | 22,852 | ||||||
|
| |||||||
Technology — 3.6% | ||||||||
Computers — 1.6% | ||||||||
Banff Merger Sub, Inc., 144A, | 25,000 | 26,675 | ||||||
Diebold Nixdorf, Inc., 144A, | 15,000 | 16,791 | ||||||
Exela Intermediate LLC / Exela Finance, Inc., 144A, | 15,000 | 4,856 | ||||||
NCR Corp. 144A, | 10,000 | 10,459 | ||||||
144A, 5.00%, 10/1/28 | 7,000 | 7,120 | ||||||
144A, 6.125%, 9/1/29 | 25,000 | 26,792 | ||||||
Seagate HDD Cayman | 7,000 | 7,276 | ||||||
144A, 4.125%, 1/15/31 | 26,000 | 26,894 | ||||||
Tempo Acquisition LLC / Tempo Acquisition Finance Corp., 144A, | 25,000 | 25,687 | ||||||
|
| |||||||
(Cost $160,436) | 152,550 | |||||||
|
|
See Notes to Financial Statements. | 14 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Office/Business Equipment — 0.2% | ||||||||
Xerox Holdings Corp., 144A, | $ | 20,000 | $ | 21,363 | ||||
|
| |||||||
Software — 1.8% | ||||||||
Black Knight InfoServ LLC, 144A, | 20,000 | 19,907 | ||||||
Dun & Bradstreet Corp., 144A, | 24,000 | 25,725 | ||||||
J2 Global, Inc., 144A, | 15,000 | 15,592 | ||||||
Rackspace Technology Global, Inc., 144A, | 20,000 | 19,658 | ||||||
SS&C Technologies, Inc., 144A, | 50,000 | 53,015 | ||||||
Veritas US, Inc. / Veritas Bermuda Ltd. | 15,000 | 15,132 | ||||||
144A, 7.50%, 9/1/25 | 25,000 | 25,944 | ||||||
|
| |||||||
(Cost $175,059) | 174,973 | |||||||
|
| |||||||
Utilities — 2.2% | ||||||||
Electric — 1.9% | ||||||||
Calpine Corp. | 50,000 | 51,450 | ||||||
144A, 5.00%, 2/1/31 | 25,000 | 24,780 | ||||||
144A, 3.75%, 3/1/31 | 15,000 | 14,497 | ||||||
NRG Energy, Inc., 144A, | 20,000 | 19,561 | ||||||
PG&E Corp., | 25,000 | 26,774 | ||||||
Talen Energy Supply LLC | 25,000 | 24,188 | ||||||
144A, 7.25%, 5/15/27 | 20,000 | 20,984 | ||||||
|
| |||||||
(Cost $183,272) | 182,234 | |||||||
|
|
Principal | Value | |||||||
Gas — 0.3% | ||||||||
AmeriGas Partners LP / AmeriGas Finance Corp., | $ | 25,000 | $ | 28,245 | ||||
|
| |||||||
TOTAL CORPORATE BONDS | 9,392,598 | |||||||
|
| |||||||
Number | ||||||||
SECURITIES LENDING COLLATERAL — 4.0% | ||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (b)(c) | 379,588 | 379,588 | ||||||
|
| |||||||
CASH EQUIVALENTS — 1.8% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (b) | 173,789 | 173,789 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 103.4% | $ | 9,945,975 | ||||||
Other assets and liabilities, net — (3.4%) | (325,059 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 9,620,916 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2021 is as follows:
| Value ($) | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2021 | Value ($) at 2/28/2021 | |||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 4.0% |
| |||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (b)(c) |
| |||||||||||||||||||||||||||||||||
168,578 | 211,010 | (d) | — | — | — | 33 | — | 379,588 | 379,588 | |||||||||||||||||||||||||
CASH EQUIVALENTS — 1.8% |
| |||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (b) |
| |||||||||||||||||||||||||||||||||
503,524 | 796,367 | (1,126,102 | ) | — | — | 22 | — | 173,789 | 173,789 | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||
672,102 | 1,007,377 | (1,126,102 | ) | — | — | 55 | — | 553,377 | 553,377 | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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, 2021 amounted to $655,794, which is 6.8% 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 $302,993. |
(d) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2021. |
See Notes to Financial Statements. | 15 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
February 28, 2021 (Unaudited)
REGS: | Securities sold under Regulation S may not be offered, sold or delivered within the United States or to, or for the account or benefit of, U.S. persons, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933. |
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. |
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, 2021 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 | ||||||||||||
Corporate Bonds (e) | $ | — | $ | 9,392,598 | $ | — | $ | 9,392,598 | ||||||||
Short-Term Investments (e) | 553,377 | — | — | 553,377 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 553,377 | $ | 9,392,598 | $ | — | $ | 9,945,975 | ||||||||
|
|
|
|
|
|
|
|
(e) | See Schedule of Investments for additional detailed categorizations. |
See Notes to Financial Statements. | 16 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF
February 28, 2021 (Unaudited)
Principal | Value | |||||||
CORPORATE BONDS — 97.5% | ||||||||
Basic Materials — 3.6% | ||||||||
Chemicals — 0.8% | ||||||||
Ashland LLC, | $ | 26,000 | $ | 27,024 | ||||
CF Industries, Inc., | 43,000 | 44,881 | ||||||
Chemours Co., | 55,000 | 56,753 | ||||||
INEOS Group Holdings SA, 144A, | 30,000 | 30,550 | ||||||
INEOS Quattro Finance 2 PLC, 144A, | 32,000 | 31,960 | ||||||
SPCM SA, 144A, | 82,000 | 84,562 | ||||||
Valvoline, Inc., 144A, | 39,000 | 40,229 | ||||||
|
| |||||||
(Cost $313,211) | 315,959 | |||||||
|
| |||||||
Iron/Steel — 0.3% | ||||||||
ArcelorMittal SA | 43,000 | 45,606 | ||||||
4.55%, 3/11/26 | 38,000 | 42,357 | ||||||
4.25%, 7/16/29 | 46,000 | 51,207 | ||||||
|
| |||||||
(Cost $132,094) | 139,170 | |||||||
|
| |||||||
Mining — 2.5% | ||||||||
Alcoa Nederland Holding BV | 25,000 | 25,984 | ||||||
144A, 7.00%, 9/30/26 | 70,000 | 73,631 | ||||||
144A, 5.50%, 12/15/27 | 55,000 | 58,369 | ||||||
144A, 6.125%, 5/15/28 | 29,000 | 31,520 | ||||||
Arconic Corp., 144A, | 40,000 | 42,575 | ||||||
FMG Resources August 2006 Pty Ltd. | 65,000 | 66,828 | ||||||
144A, 5.125%, 3/15/23 | 47,000 | 49,585 | ||||||
144A, 5.125%, 5/15/24 | 48,000 | 51,990 | ||||||
144A, 4.50%, 9/15/27 | 42,000 | 46,219 | ||||||
Freeport-McMoRan, Inc. | 65,000 | 66,120 | ||||||
3.875%, 3/15/23 | 53,000 | 55,369 | ||||||
4.55%, 11/14/24 | 35,000 | 38,609 | ||||||
5.00%, 9/1/27 | 39,000 | 41,751 | ||||||
4.125%, 3/1/28 | 45,000 | 47,334 | ||||||
4.375%, 8/1/28 | 31,000 | 33,034 | ||||||
5.25%, 9/1/29 | 70,000 | 77,902 | ||||||
4.25%, 3/1/30 | 39,000 | 42,376 | ||||||
4.625%, 8/1/30 | 54,000 | 59,766 | ||||||
Novelis Corp., 144A, | 86,000 | 89,763 | ||||||
|
| |||||||
(Cost $976,757) | 998,725 | |||||||
|
| |||||||
Communications — 19.7% | ||||||||
Advertising — 0.2% | ||||||||
Lamar Media Corp. | 19,000 | 19,273 |
Principal | Value | |||||||
Advertising (Continued) | ||||||||
4.00%, 2/15/30 | $ | 41,000 | $ | 41,897 | ||||
|
| |||||||
(Cost $61,821) | 61,170 | |||||||
|
| |||||||
Internet — 2.7% | ||||||||
Match Group Holdings II LLC | 33,000 | 34,698 | ||||||
144A, 4.625%, 6/1/28 | 43,000 | 44,722 | ||||||
144A, 4.125%, 8/1/30 | 30,000 | 31,064 | ||||||
Netflix, Inc. | 23,000 | 25,861 | ||||||
5.875%, 2/15/25 | 58,000 | 66,445 | ||||||
144A, 3.625%, 6/15/25 | 32,000 | 34,140 | ||||||
4.375%, 11/15/26 (a) | 58,000 | 65,164 | ||||||
4.875%, 4/15/28 | 134,000 | 152,582 | ||||||
5.875%, 11/15/28 | 120,000 | 143,790 | ||||||
6.375%, 5/15/29 | 62,000 | 77,112 | ||||||
144A, 5.375%, 11/15/29 | 60,000 | 70,962 | ||||||
144A, 4.875%, 6/15/30 | 65,000 | 74,831 | ||||||
NortonLifeLock, Inc. | 36,000 | 36,990 | ||||||
144A, 5.00%, 4/15/25 | 71,000 | 72,065 | ||||||
Twitter, Inc., 144A, | 44,000 | 47,012 | ||||||
VeriSign, Inc. | 39,000 | 39,317 | ||||||
5.25%, 4/1/25 | 32,000 | 35,820 | ||||||
4.75%, 7/15/27 | 46,000 | 48,674 | ||||||
|
| |||||||
(Cost $1,077,603) | 1,101,249 | |||||||
|
| |||||||
Media — 8.3% | ||||||||
Altice Financing SA, 144A, | 185,000 | 193,345 | ||||||
AMC Networks, Inc., | 70,000 | 70,963 | ||||||
CCO Holdings LLC / CCO Holdings Capital Corp. | 19,000 | 19,202 | ||||||
144A, 5.75%, 2/15/26 | 130,000 | 134,517 | ||||||
144A, 5.50%, 5/1/26 | 109,000 | 112,914 | ||||||
144A, 5.125%, 5/1/27 | 214,000 | 224,183 | ||||||
144A, 5.875%, 5/1/27 | 73,000 | 75,628 | ||||||
144A, 5.00%, 2/1/28 | 145,000 | 152,032 | ||||||
144A, 5.375%, 6/1/29 | 86,000 | 92,782 | ||||||
144A, 4.75%, 3/1/30 | 197,000 | 205,855 | ||||||
144A, 4.50%, 8/15/30 | 172,000 | 178,260 | ||||||
CSC Holdings LLC | 42,000 | 44,262 | ||||||
5.25%, 6/1/24 | 51,000 | 54,984 | ||||||
144A, 5.50%, 5/15/26 | 87,000 | 90,099 | ||||||
144A, 5.50%, 4/15/27 | 99,000 | 104,173 | ||||||
144A, 5.375%, 2/1/28 | 70,000 | 74,179 | ||||||
144A, 6.50%, 2/1/29 | 122,000 | 134,746 | ||||||
DISH DBS Corp. | 155,000 | 161,309 | ||||||
5.00%, 3/15/23 | 98,000 | 101,063 | ||||||
Gray Television, Inc., 144A, | 45,000 | 46,659 |
See Notes to Financial Statements. | 17 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Media (Continued) | ||||||||
Quebecor Media, Inc., | $ | 60,000 | $ | 64,125 | ||||
Scripps Escrow II, Inc., 144A, | 41,000 | 40,279 | ||||||
Sirius XM Radio, Inc. | 64,000 | 64,400 | ||||||
144A, 4.625%, 7/15/24 | 77,000 | 79,310 | ||||||
144A, 5.375%, 7/15/26 | 104,000 | 107,671 | ||||||
144A, 5.00%, 8/1/27 | 87,000 | 90,718 | ||||||
144A, 5.50%, 7/1/29 | 92,000 | 99,763 | ||||||
144A, 4.125%, 7/1/30 | 112,000 | 113,260 | ||||||
TEGNA, Inc., 144A, | 41,000 | 43,563 | ||||||
Videotron Ltd. | 64,000 | 66,680 | ||||||
144A, 5.375%, 6/15/24 | 39,000 | 42,631 | ||||||
144A, 5.125%, 4/15/27 | 39,000 | 40,804 | ||||||
Virgin Media Secured Finance PLC, 144A, | 100,000 | 104,300 | ||||||
Ziggo BV, 144A, | 125,000 | 130,107 | ||||||
|
| |||||||
(Cost $3,352,023) | 3,358,766 | �� | ||||||
|
| |||||||
Telecommunications — 8.5% | ||||||||
Altice France SA, 144A, | 355,000 | 370,780 | ||||||
Cincinnati Bell, Inc., 144A, | 45,000 | 46,854 | ||||||
Hughes Satellite Systems Corp., | 47,000 | 52,317 | ||||||
Level 3 Financing, Inc. | 50,000 | 51,394 | ||||||
5.25%, 3/15/26 | 50,000 | 51,500 | ||||||
144A, 4.625%, 9/15/27 | 73,000 | 75,664 | ||||||
144A, 4.25%, 7/1/28 | 84,000 | 85,764 | ||||||
Lumen Technologies, Inc. | ||||||||
Series T, 5.80%, 3/15/22 | 81,000 | 84,260 | ||||||
Series W, 6.75%, 12/1/23 | 43,000 | 47,762 | ||||||
Series Y, 7.50%, 4/1/24 | 108,000 | 121,365 | ||||||
5.625%, 4/1/25 | 34,000 | 36,484 | ||||||
144A, 5.125%, 12/15/26 | 50,000 | 52,224 | ||||||
144A, 4.00%, 2/15/27 | 96,000 | 98,339 | ||||||
Nokia OYJ | 40,000 | 41,196 | ||||||
4.375%, 6/12/27 | 34,000 | 36,869 | ||||||
Sprint Communications, Inc., | 165,000 | 176,568 | ||||||
Sprint Corp. | 281,000 | 322,096 | ||||||
7.125%, 6/15/24 | 160,000 | 184,434 | ||||||
7.625%, 2/15/25 | 127,000 | 151,289 | ||||||
7.625%, 3/1/26 | 115,000 | 141,276 | ||||||
Telecom Italia SpA, 144A, | 108,000 | 117,093 | ||||||
T-Mobile USA, Inc. | 32,000 | 33,210 | ||||||
6.00%, 4/15/24 | 150,000 | 151,125 |
Principal | Value | |||||||
Telecommunications (Continued) | ||||||||
5.125%, 4/15/25 | $ | 80,000 | $ | 81,758 | ||||
6.50%, 1/15/26 | 115,000 | 118,737 | ||||||
4.50%, 2/1/26 | 58,000 | 59,348 | ||||||
2.25%, 2/15/26 | 69,000 | 68,821 | ||||||
5.375%, 4/15/27 | 29,000 | 30,758 | ||||||
4.75%, 2/1/28 | 87,000 | 92,118 | ||||||
2.625%, 2/15/29 | 69,000 | 67,620 | ||||||
2.875%, 2/15/31 (a) | 65,000 | 63,862 | ||||||
VEON Holdings BV | 27,000 | 28,858 | ||||||
144A, 5.95%, 2/13/23 | 34,000 | 36,867 | ||||||
144A, 7.25%, 4/26/23 | 75,000 | 82,519 | ||||||
144A, 4.95%, 6/16/24 | 35,000 | 37,861 | ||||||
144A, 4.00%, 4/9/25 | 65,000 | 68,761 | ||||||
144A, 3.375%, 11/25/27 | 80,000 | 81,624 | ||||||
|
| |||||||
(Cost $3,416,316) | 3,449,375 | |||||||
|
| |||||||
Consumer, Cyclical — 17.0% | ||||||||
Airlines — 0.4% | ||||||||
Delta Air Lines, Inc. | 70,000 | 71,091 | ||||||
3.80%, 4/19/23 | 38,000 | 38,961 | ||||||
2.90%, 10/28/24 | 61,000 | 60,865 | ||||||
|
| |||||||
(Cost $170,293) | 170,917 | |||||||
|
| |||||||
Apparel — 1.1% | ||||||||
Hanesbrands, Inc. | 73,000 | 76,605 | ||||||
144A, 5.375%, 5/15/25 | 50,000 | 53,000 | ||||||
144A, 4.875%, 5/15/26 | 54,000 | 58,237 | ||||||
Levi Strauss & Co. | 57,000 | 58,389 | ||||||
144A, 3.50%, 3/1/31 | 34,000 | 34,345 | ||||||
Michael Kors USA, Inc., 144A, | 26,000 | 27,427 | ||||||
Under Armour, Inc., | 45,000 | 45,994 | ||||||
William Carter Co. 144A, | 49,000 | 51,787 | ||||||
144A, 5.625%, 3/15/27 | 24,000 | 25,320 | ||||||
|
| |||||||
(Cost $424,772) | 431,104 | |||||||
|
| |||||||
Auto Manufacturers — 5.3% | ||||||||
Allison Transmission, Inc. | 26,000 | 26,910 | ||||||
144A, 5.875%, 6/1/29 | 39,000 | 42,173 | ||||||
144A, 3.75%, 1/30/31 | 66,000 | 63,236 | ||||||
Ford Motor Co. | 240,000 | 268,800 | ||||||
9.00%, 4/22/25 | 255,000 | 309,887 | ||||||
4.346%, 12/8/26 | 99,000 | 105,651 | ||||||
Ford Motor Credit Co. LLC | 30,000 | 30,403 | ||||||
2.979%, 8/3/22 | 38,000 | 38,432 | ||||||
4.25%, 9/20/22 | 35,000 | 36,107 | ||||||
MTN, 3.55%, 10/7/22 | 29,000 | 29,729 | ||||||
3.35%, 11/1/22 | 46,000 | 46,695 | ||||||
3.087%, 1/9/23 | 85,000 | 86,409 |
See Notes to Financial Statements. | 18 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Auto Manufacturers (Continued) | ||||||||
4.14%, 2/15/23 | $ | 38,000 | $ | 39,187 | ||||
3.096%, 5/4/23 | 45,000 | 45,688 | ||||||
4.375%, 8/6/23 | 45,000 | 47,189 | ||||||
3.37%, 11/17/23 | 40,000 | 41,142 | ||||||
3.81%, 1/9/24 | 34,000 | 35,062 | ||||||
5.584%, 3/18/24 | 50,000 | 54,005 | ||||||
3.664%, 9/8/24 | 39,000 | 40,225 | ||||||
4.063%, 11/1/24 | 77,000 | 81,043 | ||||||
4.687%, 6/9/25 | 39,000 | 41,608 | ||||||
5.125%, 6/16/25 | 40,000 | 43,268 | ||||||
4.134%, 8/4/25 | 91,000 | 95,948 | ||||||
3.375%, 11/13/25 | 95,000 | 96,673 | ||||||
GMTN, 4.389%, 1/8/26 | 28,000 | 29,606 | ||||||
4.542%, 8/1/26 | 34,000 | 36,338 | ||||||
4.271%, 1/9/27 | 43,000 | 45,553 | ||||||
4.125%, 8/17/27 | 37,000 | 38,989 | ||||||
3.815%, 11/2/27 | 44,000 | 45,512 | ||||||
2.90%, 2/16/28 | 10,000 | 9,913 | ||||||
4.00%, 11/13/30 | 65,000 | 66,544 | ||||||
Tesla, Inc., 144A, | 123,000 | 128,160 | ||||||
|
| |||||||
(Cost $2,099,978) | 2,146,085 | |||||||
|
| |||||||
Auto Parts & Equipment — 1.4% | ||||||||
Adient US LLC | 35,000 | 38,806 | ||||||
144A, 7.00%, 5/15/26 | 46,000 | 49,588 | ||||||
Clarios Global LP, 144A, | 32,000 | 34,403 | ||||||
Clarios Global LP / Clarios US Finance Co., 144A, | 80,000 | 85,234 | ||||||
Dana, Inc. | 27,000 | 27,523 | ||||||
5.375%, 11/15/27 | 34,000 | 35,594 | ||||||
5.625%, 6/15/28 | 26,000 | 27,635 | ||||||
Goodyear Tire & Rubber Co. | 65,000 | 65,487 | ||||||
9.50%, 5/31/25 | 52,000 | 58,495 | ||||||
ZF North America Capital, Inc. | 47,000 | 48,292 | ||||||
144A, 4.75%, 4/29/25 | 77,000 | 83,256 | ||||||
|
| |||||||
(Cost $540,996) | 554,313 | |||||||
|
| |||||||
Distribution/Wholesale — 0.6% | ||||||||
American Builders & Contractors Supply Co., Inc. | 39,000 | 40,381 | ||||||
144A, 4.00%, 1/15/28 | 50,000 | 50,585 | ||||||
Avient Corp. | 39,000 | 42,046 | ||||||
144A, 5.75%, 5/15/25 | 33,000 | 35,028 | ||||||
Core & Main LP, 144A, | 68,000 | 69,664 | ||||||
|
| |||||||
(Cost $236,825) | 237,704 | |||||||
|
|
Principal | Value | |||||||
Entertainment — 1.1% | ||||||||
Churchill Downs, Inc. | $ | 39,000 | $ | 40,724 | ||||
144A, 4.75%, 1/15/28 | 37,000 | 38,494 | ||||||
International Game Technology PLC | 72,000 | 79,740 | ||||||
144A, 6.25%, 1/15/27 | 52,000 | 58,988 | ||||||
Live Nation Entertainment, Inc., 144A, | 32,000 | 32,131 | ||||||
Stars Group Holdings BV / Stars Group US Co.-Borrower LLC, 144A, | 78,000 | 82,095 | ||||||
Vail Resorts, Inc., 144A, | 34,000 | 36,351 | ||||||
WMG Acquisition Corp. | 36,000 | 37,036 | ||||||
144A, 3.00%, 2/15/31 | 57,000 | 54,934 | ||||||
|
| |||||||
(Cost $456,828) | 460,493 | |||||||
|
| |||||||
Food Service — 0.1% | ||||||||
Aramark Services, Inc., 144A, | 35,000 | 35,840 | ||||||
|
| |||||||
Home Builders — 0.6% | ||||||||
Mattamy Group Corp., 144A, | 29,000 | 30,541 | ||||||
Meritage Homes Corp., | 23,000 | 25,889 | ||||||
Taylor Morrison Communities, Inc. | 34,000 | 37,987 | ||||||
144A, 5.75%, 1/15/28 | 34,000 | 38,016 | ||||||
Toll Brothers Finance Corp. | 26,000 | 27,573 | ||||||
4.875%, 3/15/27 | 29,000 | 33,236 | ||||||
4.35%, 2/15/28 | 26,000 | 28,953 | ||||||
3.80%, 11/1/29 | 31,000 | 33,790 | ||||||
|
| |||||||
(Cost $246,870) | 255,985 | |||||||
|
| |||||||
Housewares — 0.8% | ||||||||
Newell Brands, Inc. | 79,000 | 83,148 | ||||||
4.875%, 6/1/25 | 32,000 | 35,230 | ||||||
4.70%, 4/1/26 | 143,000 | 158,730 | ||||||
Scotts Miracle-Gro Co., | 28,000 | 29,778 | ||||||
|
| |||||||
(Cost $295,252) | 306,886 | |||||||
|
| |||||||
Lodging — 2.1% | ||||||||
Boyd Gaming Corp., | 54,000 | 55,864 | ||||||
Hilton Domestic Operating Co., Inc. | 52,000 | 54,743 | ||||||
144A, 5.75%, 5/1/28 | 29,000 | 31,465 | ||||||
144A, 3.75%, 5/1/29 | 45,000 | 45,863 | ||||||
4.875%, 1/15/30 | 72,000 | 77,579 | ||||||
144A, 4.00%, 5/1/31 | 80,000 | 81,250 |
See Notes to Financial Statements. | 19 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Lodging (Continued) | ||||||||
Hilton Worldwide Finance LLC / Hilton Worldwide Finance Corp., | $ | 33,000 | $ | 34,382 | ||||
Marriott Ownership Resorts, Inc., 144A, | 30,000 | 31,950 | ||||||
Melco Resorts Finance Ltd., 144A, | 58,000 | 59,653 | ||||||
MGM Resorts International | 58,000 | 61,371 | ||||||
6.00%, 3/15/23 | 97,000 | 103,548 | ||||||
6.75%, 5/1/25 | 41,000 | 43,960 | ||||||
5.75%, 6/15/25 | 57,000 | 62,872 | ||||||
Travel + Leisure Co. | 42,000 | 42,609 | ||||||
3.90%, 3/1/23 | 15,000 | 15,328 | ||||||
Wyndham Hotels & Resorts, Inc., 144A, | 41,000 | 41,953 | ||||||
|
| |||||||
(Cost $833,489) | 844,390 | |||||||
|
| |||||||
Retail — 3.1% | ||||||||
1011778 BC ULC / New Red Finance, Inc. | 42,000 | 42,462 | ||||||
144A, 5.75%, 4/15/25 | 35,000 | 37,374 | ||||||
144A, 3.875%, 1/15/28 | 53,000 | 53,880 | ||||||
144A, 4.375%, 1/15/28 | 65,000 | 66,085 | ||||||
144A, 3.50%, 2/15/29 | 40,000 | 39,275 | ||||||
Gap, Inc. | 32,000 | 36,644 | ||||||
144A, 8.625%, 5/15/25 | 57,000 | 63,638 | ||||||
144A, 8.875%, 5/15/27 (a) | 71,000 | 83,243 | ||||||
Golden Nugget, Inc., 144A, | 15,000 | 15,986 | ||||||
Group 1 Automotive, Inc., 144A, | 42,000 | 42,472 | ||||||
IRB Holding Corp., 144A, | 43,000 | 46,731 | ||||||
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC | 76,000 | 78,707 | ||||||
144A, 4.75%, 6/1/27 | 39,000 | 40,901 | ||||||
L Brands, Inc., 144A, | 55,000 | 60,171 | ||||||
Lithia Motors, Inc. | 22,000 | 23,141 | ||||||
144A, 4.375%, 1/15/31 | 42,000 | 44,179 | ||||||
Murphy Oil USA, Inc. | 32,000 | 34,394 | ||||||
144A, 3.75%, 2/15/31 | 34,000 | 34,021 | ||||||
Penske Automotive Group, Inc. | 32,000 | 32,600 | ||||||
5.50%, 5/15/26 | 42,000 | 43,339 | ||||||
QVC, Inc. | 43,000 | 45,141 | ||||||
4.85%, 4/1/24 | 39,000 | 41,974 | ||||||
4.45%, 2/15/25 | 39,000 | 41,535 | ||||||
4.75%, 2/15/27 | 48,000 | 50,700 |
Principal | Value | |||||||
Retail (Continued) | ||||||||
Sally Holdings LLC / Sally Capital, Inc., | $ | 47,000 | $ | 48,128 | ||||
Yum! Brands, Inc. | 49,000 | 53,655 | ||||||
144A, 4.75%, 1/15/30 | 52,000 | 54,335 | ||||||
|
| |||||||
(Cost $1,233,998) | 1,254,711 | |||||||
|
| |||||||
Toys/Games/Hobbies — 0.4% | ||||||||
Mattel, Inc. | 112,000 | 117,768 | ||||||
144A, 5.875%, 12/15/27 | 34,000 | 37,077 | ||||||
|
| |||||||
(Cost $150,756) | 154,845 | |||||||
|
| |||||||
Consumer, Non-cyclical — 18.8% | ||||||||
Agriculture — 0.4% | ||||||||
Darling Ingredients, Inc., 144A, | 42,000 | 44,284 | ||||||
JBS Investments II GmbH | 50,000 | 53,088 | ||||||
144A, 5.75%, 1/15/28 | 75,000 | 78,938 | ||||||
|
| |||||||
(Cost $177,463) | 176,310 | |||||||
|
| |||||||
Commercial Services — 3.7% | ||||||||
ADT Security Corp. | 75,000 | 75,703 | ||||||
4.125%, 6/15/23 | 40,000 | 41,753 | ||||||
ASGN, Inc., 144A, | 32,000 | 33,414 | ||||||
Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 144A, | 28,000 | 33,468 | ||||||
Brink’s Co. | 31,000 | 32,686 | ||||||
144A, 4.625%, 10/15/27 | 33,000 | 34,070 | ||||||
Gartner, Inc., 144A, | 56,000 | 58,870 | ||||||
Herc Holdings, Inc., 144A, | 84,000 | 88,567 | ||||||
Jaguar Holding Co. II / PPD Development LP 144A, 4.625%, 6/15/25 | 57,000 | 59,515 | ||||||
144A, 5.00%, 6/15/28 | 39,000 | 41,194 | ||||||
Nielsen Co. Luxembourg SARL, 144A, | 48,000 | 49,284 | ||||||
Nielsen Finance LLC / Nielsen Finance Co., 144A, | 48,000 | 48,148 | ||||||
Prime Security Services Borrower LLC / Prime Finance, Inc. | 44,000 | 46,970 | ||||||
144A, 5.75%, 4/15/26 | 102,000 | 110,033 | ||||||
144A, 3.375%, 8/31/27 | 70,000 | 68,329 | ||||||
Service Corp. International | 30,000 | 31,721 | ||||||
5.125%, 6/1/29 | 55,000 | 59,528 | ||||||
3.375%, 8/15/30 | 60,000 | 58,950 | ||||||
United Rentals North America, Inc. | 93,000 | 97,650 |
See Notes to Financial Statements. | 20 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Commercial Services (Continued) | ||||||||
5.50%, 5/15/27 | $ | 66,000 | $ | 69,919 | ||||
3.875%, 11/15/27 | 43,000 | 44,881 | ||||||
4.875%, 1/15/28 | 97,000 | 102,987 | ||||||
5.25%, 1/15/30 | 53,000 | 58,399 | ||||||
4.00%, 7/15/30 | 43,000 | 44,653 | ||||||
3.875%, 2/15/31 | 93,000 | 95,279 | ||||||
|
| |||||||
(Cost $1,468,115) | 1,485,971 | |||||||
|
| |||||||
Cosmetics/Personal Care — 0.1% | ||||||||
Edgewell Personal Care Co., | 32,000 | 33,516 | ||||||
|
| |||||||
Food — 3.7% | ||||||||
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC | 53,000 | 54,522 | ||||||
144A, 3.25%, 3/15/26 | 54,000 | 53,490 | ||||||
144A, 7.50%, 3/15/26 | 35,000 | 38,359 | ||||||
B&G Foods, Inc., | 58,000 | 59,531 | ||||||
JBS USA LUX SA / JBS USA Finance, Inc., 144A, | 52,000 | 57,134 | ||||||
JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc. | 106,000 | 119,407 | ||||||
144A, 5.50%, 1/15/30 | 87,000 | 97,549 | ||||||
Kraft Heinz Foods Co. | 52,000 | 53,840 | ||||||
4.00%, 6/15/23 | 29,000 | 30,993 | ||||||
3.95%, 7/15/25 | 93,000 | 103,180 | ||||||
3.00%, 6/1/26 | 147,000 | 156,808 | ||||||
3.875%, 5/15/27 | 88,000 | 95,717 | ||||||
4.625%, 1/30/29 | 63,000 | 72,710 | ||||||
3.75%, 4/1/30 | 68,000 | 74,586 | ||||||
4.25%, 3/1/31 | 108,000 | 120,815 | ||||||
Lamb Weston Holdings, Inc. | 67,000 | 69,713 | ||||||
144A, 4.875%, 11/1/26 | 54,000 | 56,059 | ||||||
144A, 4.875%, 5/15/28 | 34,000 | 37,124 | ||||||
Pilgrim’s Pride Corp. | 65,000 | 66,368 | ||||||
144A, 5.875%, 9/30/27 | 50,000 | 53,705 | ||||||
TreeHouse Foods, Inc., 144A, | 22,000 | 22,458 | ||||||
|
| |||||||
(Cost $1,467,145) | 1,494,068 | |||||||
|
| |||||||
Healthcare-Products — 0.9% | ||||||||
Avantor Funding, Inc., 144A, | 115,000 | 120,033 | ||||||
Hill-Rom Holdings, Inc., 144A, | 25,000 | 26,125 | ||||||
Hologic, Inc. | 46,000 | 48,798 | ||||||
144A, 3.25%, 2/15/29 | 51,000 | 50,997 | ||||||
Teleflex, Inc. | 36,000 | 37,208 |
Principal | Value | |||||||
Healthcare-Products (Continued) | ||||||||
4.625%, 11/15/27 | $ | 24,000 | $ | 25,346 | ||||
144A, 4.25%, 6/1/28 | 32,000 | 33,120 | ||||||
|
| |||||||
(Cost $341,981) | 341,627 | |||||||
|
| |||||||
Healthcare-Services — 7.8% | ||||||||
Acadia Healthcare Co., Inc., | 30,000 | 30,000 | ||||||
Catalent Pharma Solutions, Inc. | 26,000 | 27,246 | ||||||
144A, 3.125%, 2/15/29 | 38,000 | 37,591 | ||||||
Centene Corp. | 87,000 | 91,132 | ||||||
144A, 5.375%, 8/15/26 | 104,000 | 109,720 | ||||||
4.25%, 12/15/27 | 195,000 | 202,886 | ||||||
4.625%, 12/15/29 | 243,000 | 261,990 | ||||||
3.375%, 2/15/30 | 124,000 | 127,720 | ||||||
3.00%, 10/15/30 | 148,000 | 150,509 | ||||||
2.50%, 3/1/31 | 144,000 | 139,863 | ||||||
Charles River Laboratories International, Inc. | 42,000 | 43,864 | ||||||
144A, 4.25%, 5/1/28 | 29,000 | 30,318 | ||||||
Encompass Health Corp., | 46,000 | 47,900 | ||||||
HCA, Inc. | 73,000 | 79,767 | ||||||
5.375%, 2/1/25 | 225,000 | 252,897 | ||||||
5.875%, 2/15/26 | 87,000 | 100,676 | ||||||
5.375%, 9/1/26 | 58,000 | 66,307 | ||||||
5.625%, 9/1/28 | 117,000 | 136,370 | ||||||
5.875%, 2/1/29 | 56,000 | 66,111 | ||||||
3.50%, 9/1/30 | 189,000 | 195,609 | ||||||
IQVIA, Inc. | 68,000 | 70,482 | ||||||
144A, 5.00%, 5/15/27 | 83,000 | 87,002 | ||||||
Molina Healthcare, Inc. | 50,000 | 52,906 | ||||||
144A, 4.375%, 6/15/28 | 52,000 | 54,002 | ||||||
144A, 3.875%, 11/15/30 | 46,000 | 48,065 | ||||||
Tenet Healthcare Corp. | 128,000 | 138,314 | ||||||
4.625%, 7/15/24 | 148,000 | 150,368 | ||||||
144A, 4.625%, 9/1/24 | 32,000 | 32,830 | ||||||
144A, 7.50%, 4/1/25 | 75,000 | 81,669 | ||||||
144A, 4.875%, 1/1/26 | 121,000 | 125,226 | ||||||
144A, 5.125%, 11/1/27 | 107,000 | 112,426 | ||||||
|
| |||||||
(Cost $3,117,936) | 3,151,766 | |||||||
|
| |||||||
Household Products/Wares — 0.2% | ||||||||
Spectrum Brands, Inc., | 74,000 | 76,312 | ||||||
|
| |||||||
Pharmaceuticals — 2.0% | ||||||||
Bausch Health Cos., Inc. | 130,000 | 132,933 | ||||||
144A, 5.50%, 11/1/25 | 127,000 | 130,835 | ||||||
144A, 9.00%, 12/15/25 | 107,000 | 116,568 |
See Notes to Financial Statements. | 21 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Pharmaceuticals (Continued) | ||||||||
144A, 5.75%, 8/15/27 | $ | 29,000 | $ | 31,302 | ||||
Elanco Animal Health, Inc. | 46,000 | 49,536 | ||||||
5.90%, 8/28/28 | 53,000 | 61,646 | ||||||
Prestige Brands, Inc., 144A, | 39,000 | 39,622 | ||||||
Teva Pharmaceutical Finance Co. BV, | 49,000 | 49,205 | ||||||
Teva Pharmaceutical Finance Netherlands III BV, 2.80%, 7/21/23 | 210,000 | 206,063 | ||||||
|
| |||||||
(Cost $813,112) | 817,710 | |||||||
|
| |||||||
Energy — 13.1% | ||||||||
Energy-Alternate Sources — 0.3% | ||||||||
TerraForm Power Operating LLC | 43,000 | 43,941 | ||||||
144A, 5.00%, 1/31/28 | 53,000 | 58,664 | ||||||
|
| |||||||
(Cost $101,270) | 102,605 | |||||||
|
| |||||||
Oil & Gas — 7.0% | ||||||||
Apache Corp. | 43,000 | 44,612 | ||||||
4.875%, 11/15/27 | 66,000 | 69,399 | ||||||
4.375%, 10/15/28 | 58,000 | 58,812 | ||||||
4.25%, 1/15/30 | 33,000 | 33,309 | ||||||
Chesapeake Energy Corp. | 35,000 | 36,554 | ||||||
144A, 5.875%, 2/1/29 | 35,000 | 37,528 | ||||||
Continental Resources, Inc. | 34,000 | 34,964 | ||||||
3.80%, 6/1/24 | 57,000 | 58,481 | ||||||
4.375%, 1/15/28 (a) | 78,000 | 82,171 | ||||||
144A, 5.75%, 1/15/31 (a) | 104,000 | 117,676 | ||||||
Endeavor Energy Resources LP / EER Finance, Inc. | 39,000 | 41,053 | ||||||
144A, 5.50%, 1/30/26 | 30,000 | 30,675 | ||||||
144A, 5.75%, 1/30/28 | 73,000 | 77,270 | ||||||
EQT Corp. | 33,000 | 33,327 | ||||||
7.625%, 2/1/25 | 76,000 | 88,386 | ||||||
3.90%, 10/1/27 | 82,000 | 85,382 | ||||||
Hilcorp Energy I LP / Hilcorp Finance Co., 144A, | 42,000 | 42,919 | ||||||
Leviathan Bond Ltd. | 30,000 | 31,785 | ||||||
144A,REGS, 6.125%, 6/30/25 | 42,000 | 46,202 | ||||||
144A,REGS, 6.50%, 6/30/27 | 41,000 | 45,659 | ||||||
Occidental Petroleum Corp. | 60,000 | 59,419 | ||||||
2.70%, 2/15/23 | 40,000 | 39,175 | ||||||
6.95%, 7/1/24 | 50,000 | 55,250 | ||||||
2.90%, 8/15/24 | 200,000 | 194,650 | ||||||
3.50%, 6/15/25 | 51,000 | 50,203 | ||||||
8.00%, 7/15/25 | 35,000 | 40,687 |
Principal | Value | |||||||
Oil & Gas (Continued) | ||||||||
5.875%, 9/1/25 (a) | $ | 62,000 | $ | 67,363 | ||||
5.50%, 12/1/25 | 50,000 | 53,175 | ||||||
5.55%, 3/15/26 | 75,000 | 80,169 | ||||||
3.40%, 4/15/26 | 75,000 | 72,914 | ||||||
3.20%, 8/15/26 | 68,000 | 65,429 | ||||||
3.00%, 2/15/27 | 52,000 | 48,916 | ||||||
3.50%, 8/15/29 | 105,000 | 100,296 | ||||||
Ovintiv Exploration, Inc. | 68,000 | 74,620 | ||||||
5.375%, 1/1/26 | 50,000 | 55,367 | ||||||
Parkland Corp. | 25,000 | 26,141 | ||||||
144A, 5.875%, 7/15/27 | 32,000 | 34,060 | ||||||
PDC Energy, Inc. | 25,000 | 25,590 | ||||||
5.75%, 5/15/26 (a) | 54,000 | 55,423 | ||||||
QEP Resources, Inc. | 32,000 | 33,414 | ||||||
5.25%, 5/1/23 | 45,000 | 47,801 | ||||||
5.625%, 3/1/26 | 34,000 | 38,297 | ||||||
Seven Generations Energy Ltd., 144A, | 51,000 | 53,138 | ||||||
Sunoco LP / Sunoco Finance Corp. | 47,000 | 48,474 | ||||||
6.00%, 4/15/27 | 34,000 | 35,445 | ||||||
144A, 4.50%, 5/15/29 | 56,000 | 56,035 | ||||||
WPX Energy, Inc. | 25,000 | 27,844 | ||||||
5.75%, 6/1/26 | 29,000 | 30,530 | ||||||
5.25%, 10/15/27 | 36,000 | 38,502 | ||||||
5.875%, 6/15/28 | 40,000 | 43,806 | ||||||
4.50%, 1/15/30 | 62,000 | 65,987 | ||||||
|
| |||||||
(Cost $2,703,424) | 2,814,284 | |||||||
|
| |||||||
Pipelines — 5.8% | ||||||||
Buckeye Partners LP | 32,000 | 32,504 | ||||||
144A, 4.125%, 3/1/25 | 28,000 | 28,683 | ||||||
3.95%, 12/1/26 | 44,000 | 43,793 | ||||||
4.125%, 12/1/27 | 41,000 | 41,295 | ||||||
144A, 4.50%, 3/1/28 | 26,000 | 26,390 | ||||||
Cheniere Energy Partners LP | 104,000 | 107,021 | ||||||
5.625%, 10/1/26 | 71,000 | 73,961 | ||||||
4.50%, 10/1/29 | 105,000 | 110,275 | ||||||
Cheniere Energy, Inc., 144A, | 140,000 | 146,125 | ||||||
DCP Midstream Operating LP | 32,000 | 33,040 | ||||||
5.375%, 7/15/25 | 66,000 | 70,482 | ||||||
5.625%, 7/15/27 | 26,000 | 28,164 | ||||||
5.125%, 5/15/29 | 45,000 | 47,763 | ||||||
EnLink Midstream Partners LP, | 36,000 | 36,315 | ||||||
EQM Midstream Partners LP | 41,000 | 42,345 | ||||||
4.00%, 8/1/24 | 29,000 | 29,335 |
See Notes to Financial Statements. | 22 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Pipelines (Continued) | ||||||||
144A, 6.00%, 7/1/25 | $ | 56,000 | $ | 59,290 | ||||
4.125%, 12/1/26 | 29,000 | 28,395 | ||||||
144A, 6.50%, 7/1/27 | 62,000 | 66,596 | ||||||
5.50%, 7/15/28 | 59,000 | 60,896 | ||||||
144A, 4.50%, 1/15/29 | 55,000 | 53,419 | ||||||
Hess Midstream Operations LP | 66,000 | 68,492 | ||||||
144A, 5.125%, 6/15/28 | 31,000 | 32,008 | ||||||
NuStar Logistics LP | 52,000 | 55,458 | ||||||
6.00%, 6/1/26 | 32,000 | 34,185 | ||||||
5.625%, 4/28/27 | 31,000 | 32,453 | ||||||
6.375%, 10/1/30 | 43,000 | 47,605 | ||||||
Rockies Express Pipeline LLC | 26,000 | 26,569 | ||||||
144A, 4.95%, 7/15/29 | 41,000 | 43,896 | ||||||
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp., 144A, | 17,000 | 17,139 | ||||||
Targa Resources Partners LP / Targa Resources Partners Finance Corp. | 38,000 | 38,110 | ||||||
5.875%, 4/15/26 | 74,000 | 77,195 | ||||||
5.375%, 2/1/27 | 30,000 | 31,194 | ||||||
6.50%, 7/15/27 | 38,000 | 40,951 | ||||||
5.00%, 1/15/28 | 59,000 | 61,536 | ||||||
6.875%, 1/15/29 | 39,000 | 43,314 | ||||||
5.50%, 3/1/30 | 65,000 | 69,570 | ||||||
144A, 4.875%, 2/1/31 | 70,000 | 71,890 | ||||||
144A, 4.00%, 1/15/32 | 69,000 | 67,772 | ||||||
Western Midstream Operating LP | 36,000 | 36,788 | ||||||
4.35%, 2/1/25 | 68,000 | 69,822 | ||||||
3.95%, 6/1/25 | 45,000 | 45,534 | ||||||
4.65%, 7/1/26 | 29,000 | 30,076 | ||||||
4.50%, 3/1/28 | 23,000 | 23,920 | ||||||
4.75%, 8/15/28 | 33,000 | 34,652 | ||||||
5.30%, 2/1/30 | 79,000 | 85,744 | ||||||
|
| |||||||
(Cost $2,273,904) | 2,351,960 | |||||||
|
| |||||||
Financial — 10.0% | ||||||||
Banks — 1.8% | ||||||||
CIT Group, Inc. | 96,000 | 101,418 | ||||||
5.00%, 8/1/23 | 56,000 | 61,215 | ||||||
4.75%, 2/16/24 | 32,000 | 34,890 | ||||||
3.929%, 6/19/24 | 37,000 | 39,220 | ||||||
5.25%, 3/7/25 | 28,000 | 31,902 | ||||||
6.125%, 3/9/28 | 35,000 | 43,437 | ||||||
Commerzbank AG, 144A, | 58,000 | 67,122 | ||||||
Deutsche Bank AG, | 85,000 | 83,819 | ||||||
Intesa Sanpaolo SpA | 127,000 | 138,393 | ||||||
144A, 5.71%, 1/15/26 | 115,000 | 129,400 | ||||||
|
| |||||||
(Cost $703,383) | 730,816 | |||||||
|
|
Principal | Value | |||||||
Diversified Financial Services — 3.1% | ||||||||
Ally Financial, Inc., | $ | 61,000 | $ | 69,697 | ||||
LPL Holdings, Inc. | 63,000 | 65,060 | ||||||
144A, 4.625%, 11/15/27 | 23,000 | 23,596 | ||||||
Navient Corp. | 94,000 | 97,772 | ||||||
5.50%, 1/25/23 | 55,000 | 57,028 | ||||||
7.25%, 9/25/23 | 30,000 | 32,606 | ||||||
OneMain Finance Corp. | 53,000 | 55,451 | ||||||
5.625%, 3/15/23 | 69,000 | 73,528 | ||||||
6.125%, 3/15/24 | 84,000 | 90,405 | ||||||
6.875%, 3/15/25 | 97,000 | 109,586 | ||||||
8.875%, 6/1/25 | 40,000 | 44,018 | ||||||
7.125%, 3/15/26 | 113,000 | 130,657 | ||||||
6.625%, 1/15/28 | 50,000 | 56,945 | ||||||
5.375%, 11/15/29 | 41,000 | 43,358 | ||||||
4.00%, 9/15/30 | 68,000 | 66,054 | ||||||
PennyMac Financial Services, Inc., 144A, | 45,000 | 47,081 | ||||||
Quicken Loans LLC, 144A, | 58,000 | 61,302 | ||||||
Quicken Loans LLC / Quicken Loans Co.-Issuer, Inc. | 44,000 | 43,643 | ||||||
144A, 3.875%, 3/1/31 | 97,000 | 96,515 | ||||||
|
| |||||||
(Cost $1,252,053) | 1,264,302 | |||||||
|
| |||||||
Insurance — 0.5% | ||||||||
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 144A, | 33,000 | 33,062 | ||||||
MGIC Investment Corp., | 48,000 | 50,545 | ||||||
Radian Group, Inc. | 41,000 | 43,152 | ||||||
6.625%, 3/15/25 | 28,000 | 31,299 | ||||||
4.875%, 3/15/27 | 31,000 | 32,938 | ||||||
|
| |||||||
(Cost $188,553) | 190,996 | |||||||
|
| |||||||
Real Estate — 0.1% | ||||||||
Howard Hughes Corp., 144A, | 52,000 | 55,068 | ||||||
Realogy Group LLC / Realogy Co.-Issuer Corp., 144A, | 10,000 | 10,406 | ||||||
|
| |||||||
(Cost $65,386) | 65,474 | |||||||
|
| |||||||
Real Estate Investment Trusts — 4.1% | ||||||||
Diversified Healthcare Trust, | 73,000 | 82,308 | ||||||
ESH Hospitality, Inc., 144A, | 74,000 | 75,543 | ||||||
HAT Holdings I LLC / HAT Holdings II LLC | 35,000 | 36,243 | ||||||
144A, 6.00%, 4/15/25 | 35,000 | 36,794 |
See Notes to Financial Statements. | 23 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Real Estate Investment Trusts (Continued) | ||||||||
Iron Mountain, Inc. | $ | 83,000 | $ | 86,494 | ||||
144A, 5.25%, 3/15/28 | 48,000 | 50,250 | ||||||
144A, 5.00%, 7/15/28 | 25,000 | 25,969 | ||||||
MGM Growth Properties Operating Partnership LP / MGP Finance Co-Issuer, Inc. | 66,000 | 71,404 | ||||||
144A, 4.625%, 6/15/25 | 52,000 | 55,172 | ||||||
4.50%, 9/1/26 | 32,000 | 34,000 | ||||||
5.75%, 2/1/27 | 61,000 | 69,025 | ||||||
144A, 3.875%, 2/15/29 | 45,000 | 45,544 | ||||||
MPT Operating Partnership LP / MPT Finance Corp. | 36,000 | 37,379 | ||||||
5.00%, 10/15/27 | 90,000 | 96,028 | ||||||
4.625%, 8/1/29 | 55,000 | 59,228 | ||||||
3.50%, 3/15/31 | 97,000 | 98,828 | ||||||
SBA Communications Corp. | 61,000 | 62,644 | ||||||
3.875%, 2/15/27 | 127,000 | 131,798 | ||||||
144A, 3.125%, 2/1/29 | 93,000 | 90,991 | ||||||
Service Properties Trust, | 35,000 | 35,568 | ||||||
Uniti Group LP / Uniti Group Finance, Inc. / CSL Capital LLC, 144A, | 32,000 | 32,540 | ||||||
VICI Properties LP / VICI Note Co., Inc. | 44,000 | 44,688 | ||||||
144A, 4.25%, 12/1/26 | 92,000 | 95,020 | ||||||
144A, 3.75%, 2/15/27 | 65,000 | 66,087 | ||||||
144A, 4.625%, 12/1/29 | 73,000 | 76,751 | ||||||
144A, 4.125%, 8/15/30 | 57,000 | 59,351 | ||||||
|
| |||||||
(Cost $1,630,481) | 1,655,647 | |||||||
|
| |||||||
Venture Capital — 0.4% | ||||||||
Icahn Enterprises LP / Icahn Enterprises Finance Corp. | 67,000 | 68,424 | ||||||
4.75%, 9/15/24 | 74,000 | 77,908 | ||||||
|
| |||||||
(Cost $141,417) | 146,332 | |||||||
|
| |||||||
Industrial — 8.2% | ||||||||
Aerospace/Defense — 1.7% | ||||||||
Howmet Aerospace, Inc. | 110,000 | 119,751 | ||||||
6.875%, 5/1/25 (a) | 66,000 | 76,474 | ||||||
Spirit AeroSystems, Inc., 144A, | 39,000 | 40,598 | ||||||
TransDigm, Inc. | 52,000 | 53,092 | ||||||
144A, 8.00%, 12/15/25 | 60,000 | 65,385 | ||||||
144A, 6.25%, 3/15/26 | 300,000 | 316,517 | ||||||
|
| |||||||
(Cost $661,222) | 671,817 | |||||||
|
| |||||||
Building Materials — 0.8% | ||||||||
Builders FirstSource, Inc. | 46,000 | 49,392 | ||||||
144A, 5.00%, 3/1/30 | 39,000 | 41,036 |
Principal | Value | |||||||
Building Materials (Continued) | ||||||||
JELD-WEN, Inc. | $ | 25,000 | $ | 25,341 | ||||
144A, 4.875%, 12/15/27 | 26,000 | 27,056 | ||||||
Standard Industries, Inc. | 55,000 | 56,891 | ||||||
144A, 4.75%, 1/15/28 | 58,000 | 60,247 | ||||||
144A, 4.375%, 7/15/30 | 81,000 | 83,711 | ||||||
|
| |||||||
(Cost $334,816) | 343,674 | |||||||
|
| |||||||
Electrical Components & Equipment — 0.5% | ||||||||
WESCO Distribution, Inc. | 99,000 | 107,262 | ||||||
144A, 7.25%, 6/15/28 | 95,000 | 105,702 | ||||||
|
| |||||||
(Cost $212,490) | 212,964 | |||||||
|
| |||||||
Electronics — 0.5% | ||||||||
Sensata Technologies BV | 34,000 | 36,295 | ||||||
144A, 5.625%, 11/1/24 | 21,000 | 23,218 | ||||||
144A, 5.00%, 10/1/25 | 65,000 | 71,440 | ||||||
Sensata Technologies, Inc. | 26,000 | 27,771 | ||||||
144A, 3.75%, 2/15/31 | 51,000 | 51,255 | ||||||
|
| |||||||
(Cost $207,709) | 209,979 | |||||||
|
| |||||||
Engineering & Construction — 0.4% | ||||||||
AECOM | 67,000 | 74,538 | ||||||
5.125%, 3/15/27 | 63,000 | 68,972 | ||||||
|
| |||||||
(Cost $139,139) | 143,510 | |||||||
|
| |||||||
Environmental Control — 0.8% | ||||||||
Clean Harbors, Inc., 144A, | 35,000 | 36,546 | ||||||
Covanta Holding Corp., | 40,000 | 41,596 | ||||||
GFL Environmental, Inc. | 32,000 | 32,867 | ||||||
144A, 3.75%, 8/1/25 | 73,000 | 74,505 | ||||||
144A, 5.125%, 12/15/26 | 25,000 | 26,409 | ||||||
144A, 3.50%, 9/1/28 | 49,000 | 47,959 | ||||||
Stericycle, Inc. | 39,000 | 40,365 | ||||||
144A, 3.875%, 1/15/29 | 30,000 | 30,252 | ||||||
|
| |||||||
(Cost $331,239) | 330,499 | |||||||
|
| |||||||
Machinery-Diversified — 0.2% | ||||||||
Colfax Corp. | 39,000 | 40,316 | ||||||
144A, 6.375%, 2/15/26 | 21,000 | 22,424 | ||||||
|
| |||||||
(Cost $61,914) | 62,740 | |||||||
|
| |||||||
Miscellaneous Manufacturing — 0.1% | ||||||||
Hillenbrand, Inc., | 26,000 | 27,674 | ||||||
|
|
See Notes to Financial Statements. | 24 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Packaging & Containers — 2.7% | ||||||||
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc. | $ | 42,000 | $ | 44,366 | ||||
144A, 4.125%, 8/15/26 | 87,000 | 90,146 | ||||||
Ball Corp. | 69,000 | 71,510 | ||||||
4.00%, 11/15/23 | 48,000 | 50,850 | ||||||
5.25%, 7/1/25 | 65,000 | 73,247 | ||||||
4.875%, 3/15/26 | 69,000 | 77,034 | ||||||
2.875%, 8/15/30 | 91,000 | 88,497 | ||||||
Berry Global, Inc. | 55,000 | 55,057 | ||||||
144A, 1.57%, 1/15/26 | 50,000 | 50,096 | ||||||
144A, 4.50%, 2/15/26 (a) | 32,000 | 32,740 | ||||||
144A, 4.875%, 7/15/26 | 81,000 | 86,585 | ||||||
144A, 5.625%, 7/15/27 | 32,000 | 33,980 | ||||||
Crown Americas LLC / Crown Americas Capital Corp. IV, | 57,000 | 60,064 | ||||||
Graphic Packaging International LLC, 144A, | 26,000 | 26,745 | ||||||
Owens-Brockway Glass Container, Inc., 144A, | 40,000 | 43,075 | ||||||
Sealed Air Corp. | 28,000 | 29,243 | ||||||
144A, 5.25%, 4/1/23 | 38,000 | 40,248 | ||||||
144A, 5.125%, 12/1/24 | 48,000 | 52,650 | ||||||
144A, 5.50%, 9/15/25 | 21,000 | 23,376 | ||||||
144A, 4.00%, 12/1/27 | 28,000 | 29,338 | ||||||
Silgan Holdings, Inc., | 33,000 | 34,355 | ||||||
|
| |||||||
(Cost $1,080,385) | 1,093,202 | |||||||
|
| |||||||
Transportation — 0.5% | ||||||||
XPO Logistics, Inc. | 44,000 | 44,797 | ||||||
144A, 6.75%, 8/15/24 | 55,000 | 57,819 | ||||||
144A, 6.25%, 5/1/25 | 86,000 | 92,476 | ||||||
|
| |||||||
(Cost $193,462) | 195,092 | |||||||
|
| |||||||
Technology — 4.1% | ||||||||
Computers — 1.3% | ||||||||
Dell International LLC / EMC Corp., 144A, | 103,000 | 106,747 | ||||||
EMC Corp., | 68,000 | 70,638 | ||||||
NCR Corp., 144A, | 27,000 | 29,531 | ||||||
Seagate HDD Cayman | 43,000 | 46,019 | ||||||
4.875%, 3/1/24 | 30,000 | 32,286 | ||||||
4.75%, 1/1/25 | 27,000 | 29,278 | ||||||
4.875%, 6/1/27 | 35,000 | 38,994 | ||||||
Western Digital Corp., | 158,000 | 174,985 | ||||||
|
| |||||||
(Cost $519,778) | 528,478 | |||||||
|
|
Principal | Value | |||||||
Office/Business Equipment — 0.6% | ||||||||
CDW LLC / CDW Finance Corp. | $ | 34,000 | $ | 37,591 | ||||
4.125%, 5/1/25 | 29,000 | 29,972 | ||||||
4.25%, 4/1/28 | 44,000 | 45,685 | ||||||
3.25%, 2/15/29 | 56,000 | 55,174 | ||||||
Xerox Corp., | 72,000 | 75,232 | ||||||
|
| |||||||
(Cost $241,683) | 243,654 | |||||||
|
| |||||||
Semiconductors — 0.6% | ||||||||
Microchip Technology, Inc., 144A, | 69,000 | 72,360 | ||||||
ON Semiconductor Corp., 144A, | 50,000 | 52,235 | ||||||
Qorvo, Inc. | 48,000 | 51,863 | ||||||
144A, 3.375%, 4/1/31 | 58,000 | 57,927 | ||||||
|
| |||||||
(Cost $232,974) | 234,385 | |||||||
|
| |||||||
Software — 1.6% | ||||||||
CDK Global, Inc. | 32,000 | 35,440 | ||||||
5.875%, 6/15/26 | 32,000 | 33,376 | ||||||
4.875%, 6/1/27 | 47,000 | 49,262 | ||||||
Change Healthcare Holdings LLC / Change Healthcare Finance, Inc., 144A, | 25,000 | 25,643 | ||||||
MSCI, Inc. | 30,000 | 30,975 | ||||||
144A, 5.375%, 5/15/27 | 29,000 | 30,957 | ||||||
144A, 4.00%, 11/15/29 | 78,000 | 82,812 | ||||||
144A, 3.625%, 9/1/30 | 26,000 | 27,146 | ||||||
144A, 3.875%, 2/15/31 | 67,000 | 70,434 | ||||||
Nuance Communications, Inc., | 32,000 | 33,580 | ||||||
Open Text Corp. | 55,000 | 56,891 | ||||||
144A, 3.875%, 2/15/28 | 66,000 | 67,186 | ||||||
PTC, Inc. | 25,000 | 25,641 | ||||||
144A, 4.00%, 2/15/28 | 32,000 | 33,008 | ||||||
Solera LLC / Solera Finance, Inc., 144A, | 45,000 | 46,631 | ||||||
|
| |||||||
(Cost $642,998) | 648,982 | |||||||
|
| |||||||
Utilities — 3.0% | ||||||||
Electric — 2.8% | ||||||||
Clearway Energy Operating LLC | 34,000 | 35,612 | ||||||
144A, 4.75%, 3/15/28 | 57,000 | 60,972 | ||||||
DPL, Inc., 144A, | 23,000 | 24,639 | ||||||
FirstEnergy Corp. | ||||||||
Series B, 4.25%, 3/15/23 | 62,000 | 65,670 | ||||||
Series B, 4.40%, 7/15/27 | 110,000 | 121,141 | ||||||
2.65%, 3/1/30 | 37,000 | 36,364 | ||||||
Series B, 2.25%, 9/1/30 | 32,000 | 30,108 |
See Notes to Financial Statements. | 25 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Electric (Continued) | ||||||||
FirstEnergy Transmission LLC, 144A, | $ | 37,000 | $ | 40,151 | ||||
NextEra Energy Operating Partners LP | 61,000 | 64,584 | ||||||
144A, 3.875%, 10/15/26 | 25,000 | 26,797 | ||||||
144A, 4.50%, 9/15/27 | 36,000 | 40,309 | ||||||
NRG Energy, Inc. | 65,000 | 67,762 | ||||||
6.625%, 1/15/27 | 64,000 | 66,646 | ||||||
5.75%, 1/15/28 | 53,000 | 56,412 | ||||||
144A, 3.375%, 2/15/29 | 40,000 | 39,425 | ||||||
144A, 5.25%, 6/15/29 | 50,000 | 53,010 | ||||||
TransAlta Corp., | 22,000 | 22,880 | ||||||
Vistra Operations Co. LLC | 57,000 | 59,209 | ||||||
144A, 5.625%, 2/15/27 | 134,000 | 140,728 | ||||||
144A, 5.00%, 7/31/27 | 70,000 | 73,325 | ||||||
|
| |||||||
(Cost $1,123,245) | 1,125,744 | |||||||
|
| |||||||
Gas — 0.2% | ||||||||
AmeriGas Partners LP / AmeriGas Finance Corp. | 39,000 | 43,253 | ||||||
5.50%, 5/20/25 | 50,000 | 54,987 | ||||||
|
| |||||||
(Cost $96,178) | 98,240 | |||||||
|
| |||||||
TOTAL CORPORATE BONDS | 39,348,017 | |||||||
|
|
Number | Value | |||||||
SECURITIES LENDING COLLATERAL — 1.3% | ||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (c)(d | 543,272 | $ | 543,272 | |||||
|
| |||||||
CASH EQUIVALENTS — 2.6% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (c) | 1,060,830 | 1,060,830 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 101.4% | $ | 40,952,119 | ||||||
Other assets and liabilities, | (578,523 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 40,373,596 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2021 is as follows:
Value ($) at 8/31/2020 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2021 | Value ($) at 2/28/2021 | ||||||||||||||||||||||||||||
CORPORATE BONDS — 0.2% |
| |||||||||||||||||||||||||||||||||||
Financial — 0.2% |
| |||||||||||||||||||||||||||||||||||
Deutsche Bank AG, 3.73%, 1/14/32 (b) |
| |||||||||||||||||||||||||||||||||||
— | 84,716 | — | — | (897 | ) | 238 | — | 85,000 | 83,819 | |||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 1.3% |
| |||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (c)(d) |
| |||||||||||||||||||||||||||||||||||
612,989 | — | (69,717 | ) (e) | — | — | 58 | — | 543,272 | 543,272 | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 2.6% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (c) |
| |||||||||||||||||||||||||||||||||||
1,116,381 | 5,242,094 | (5,297,645 | ) | — | — | 78 | — | 1,060,830 | 1,060,830 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
1,729,370 | 5,326,810 | (5,367,362 | ) | — | (897 | ) | 374 | — | 1,689,102 | 1,687,921 | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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, 2021 amounted to $920,763, which is 2.3% of net assets. |
(b) | Affiliated issuer. This security is owned in proportion with its representation in the index. |
(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 $410,676. |
(e) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2021. |
See Notes to Financial Statements. | 26 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
February 28, 2021 (Unaudited)
GMTN: | Global Medium Term Note |
MTN: | Medium Term Note |
REGS: | Securities sold under Regulation S may not be offered, sold or delivered within the United States or to, or for the account or benefit of, U.S. persons, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933. |
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. |
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, 2021 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 | ||||||||||||
Corporate Bonds (f) | $ | — | $ | 39,348,017 | $ | — | $ | 39,348,017 | ||||||||
Short-Term Investments (f) | 1,604,102 | — | — | 1,604,102 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 1,604,102 | $ | 39,348,017 | $ | — | $ | 40,952,119 | ||||||||
|
|
|
|
|
|
|
|
(f) | See Schedule of Investments for additional detailed categorizations. |
See Notes to Financial Statements. | 27 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF
February 28, 2021 (Unaudited)
Principal | Value | |||||||
CORPORATE BONDS — 93.8% | ||||||||
Basic Materials — 4.9% | ||||||||
Chemicals — 2.0% | ||||||||
Ashland LLC, | $ | 34,000 | $ | 35,339 | ||||
CF Industries, Inc., | 100,000 | 104,375 | ||||||
Chemours Co., | 75,000 | 77,391 | ||||||
NOVA Chemicals Corp. | 27,000 | 26,921 | ||||||
144A, 4.875%, 6/1/24 | 139,000 | 144,126 | ||||||
OCI NV, 144A, | 200,000 | 207,685 | ||||||
Olin Corp., 144A, | 75,000 | 92,895 | ||||||
TPC Group, Inc., 144A, | 75,000 | 68,586 | ||||||
Tronox, Inc., 144A, | 50,000 | 53,687 | ||||||
|
| |||||||
(Cost $785,068) | 811,005 | |||||||
|
| |||||||
Iron/Steel — 1.1% | ||||||||
Allegheny Technologies, Inc., | 41,000 | 44,808 | ||||||
ArcelorMittal SA, | 60,000 | 63,636 | ||||||
Cleveland-Cliffs, Inc. | 33,000 | 33,835 | ||||||
144A, 9.875%, 10/17/25 | 80,000 | 93,600 | ||||||
United States Steel Corp. | 100,000 | 120,170 | ||||||
6.875%, 8/15/25 (a) | 75,000 | 74,062 | ||||||
|
| |||||||
(Cost $382,935) | 430,111 | |||||||
|
| |||||||
Mining — 1.8% | ||||||||
Alcoa Nederland Holding BV, 144A, | 145,000 | 150,709 | ||||||
Arconic Corp., 144A, | 50,000 | 53,219 | ||||||
Constellium SE, 144A, | 150,000 | 152,700 | ||||||
FMG Resources August 2006 Pty Ltd. | 62,000 | 63,744 | ||||||
144A, 5.125%, 3/15/23 | 41,000 | 43,255 | ||||||
144A, 5.125%, 5/15/24 | 20,000 | 21,662 | ||||||
Freeport-McMoRan, Inc. | 100,000 | 104,470 | ||||||
4.55%, 11/14/24 | 85,000 | 93,766 | ||||||
Hudbay Minerals, Inc., 144A, | 50,000 | 52,150 | ||||||
|
| |||||||
(Cost $701,171) | 735,675 | |||||||
|
| |||||||
Communications — 13.6% | ||||||||
Advertising — 0.1% | ||||||||
Outfront Media Capital LLC / Outfront Media Capital Corp., 144A, | 65,000 | 69,022 | ||||||
|
|
Principal | Value | |||||||
Internet — 1.3% | ||||||||
Netflix, Inc. | $ | 28,000 | $ | 29,138 | ||||
5.75%, 3/1/24 | 33,000 | 37,104 | ||||||
5.875%, 2/15/25 | 50,000 | 57,280 | ||||||
144A, 3.625%, 6/15/25 | 62,000 | 66,146 | ||||||
NortonLifeLock, Inc. | 22,000 | 22,605 | ||||||
144A, 5.00%, 4/15/25 | 115,000 | 116,725 | ||||||
Uber Technologies, Inc., 144A, | 75,000 | 80,909 | ||||||
VeriSign, Inc., | 100,000 | 111,938 | ||||||
|
| |||||||
(Cost $508,997) | 521,845 | |||||||
|
| |||||||
Media — 4.6% | ||||||||
AMC Networks, Inc. | 81,000 | 82,114 | ||||||
4.75%, 8/1/25 | 75,000 | 77,250 | ||||||
CCO Holdings LLC / CCO Holdings Capital Corp., 144A, | 42,000 | 42,446 | ||||||
Cengage Learning, Inc., 144A, | 51,000 | 50,713 | ||||||
Clear Channel Worldwide Holdings, Inc., | 159,000 | 165,857 | ||||||
CSC Holdings LLC | 83,000 | 85,853 | ||||||
5.875%, 9/15/22 | 54,000 | 56,908 | ||||||
5.25%, 6/1/24 | 62,000 | 66,844 | ||||||
DISH DBS Corp. | 137,000 | 138,678 | ||||||
5.875%, 7/15/22 | 166,000 | 172,756 | ||||||
5.00%, 3/15/23 | 125,000 | 128,906 | ||||||
5.875%, 11/15/24 | 200,000 | 209,809 | ||||||
EW Scripps Co., 144A, | 50,000 | 50,844 | ||||||
Meredith Corp., | 100,000 | 102,221 | ||||||
Quebecor Media, Inc., | 69,000 | 73,744 | ||||||
Sirius XM Radio, Inc. | 50,000 | 50,313 | ||||||
144A, 4.625%, 7/15/24 | 100,000 | 103,000 | ||||||
Univision Communications, Inc., 144A, | 100,000 | 100,283 | ||||||
Videotron Ltd., 144A, | 86,000 | 94,008 | ||||||
|
| |||||||
(Cost $1,799,580) | 1,852,547 | |||||||
|
| |||||||
Telecommunications — 7.6% | ||||||||
Cincinnati Bell, Inc., 144A, | 62,000 | 64,554 | ||||||
CommScope Technologies LLC, 144A, | 99,000 | 100,969 | ||||||
CommScope, Inc., 144A, | 104,000 | 106,872 | ||||||
DKT Finance ApS, 144A, | 50,000 | 51,975 |
See Notes to Financial Statements. | 28 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Telecommunications (Continued) | ||||||||
Gogo Intermediate Holdings LLC / Gogo Finance Co., Inc., 144A, | $ | 77,000 | $ | 81,383 | ||||
GTT Communications, Inc., 144A, | 48,000 | 9,300 | ||||||
Hughes Satellite Systems Corp., | 75,000 | 76,313 | ||||||
Lumen Technologies, Inc. | 104,000 | 105,456 | ||||||
Series T, 5.80%, 3/15/22 | 116,000 | 120,669 | ||||||
Series W, 6.75%, 12/1/23 | 62,000 | 68,866 | ||||||
Series Y, 7.50%, 4/1/24 | 83,000 | 93,271 | ||||||
5.625%, 4/1/25 | 42,000 | 45,069 | ||||||
Nokia OYJ, | 27,000 | 27,807 | ||||||
Qwest Corp., | 51,000 | 53,008 | ||||||
Sprint Communications, Inc. | 83,000 | 88,758 | ||||||
6.00%, 11/15/22 | 189,000 | 202,251 | ||||||
Sprint Corp. | 120,000 | 123,613 | ||||||
7.875%, 9/15/23 | 353,000 | 404,626 | ||||||
7.125%, 6/15/24 | 208,000 | 239,764 | ||||||
7.625%, 2/15/25 | 125,000 | 148,906 | ||||||
Telecom Italia SpA, 144A, | 95,000 | 102,999 | ||||||
T-Mobile USA, Inc. | 139,000 | 144,254 | ||||||
6.00%, 4/15/24 | 260,000 | 261,950 | ||||||
2.25%, 2/15/26 | 100,000 | 99,740 | ||||||
VEON Holdings BV, 144A, | 200,000 | 211,573 | ||||||
ViaSat, Inc., 144A, | 50,000 | 51,063 | ||||||
|
| |||||||
(Cost $3,003,781) | 3,085,009 | |||||||
|
| |||||||
Consumer, Cyclical — 26.0% | ||||||||
Airlines — 2.6% | ||||||||
Air Canada, 144A, | 33,000 | 33,256 | ||||||
American Airlines Group, Inc. | 105,000 | 101,325 | ||||||
144A, 3.75%, 3/1/25 (a) | 42,000 | 35,776 | ||||||
American Airlines, Inc., 144A, | 200,000 | 238,250 | ||||||
Delta Air Lines, Inc. | 290,000 | 294,520 | ||||||
3.80%, 4/19/23 | 50,000 | 51,264 | ||||||
7.375%, 1/15/26 | 125,000 | 145,857 | ||||||
Hawaiian Brand Intellectual Property Ltd. / HawaiianMiles Loyalty Ltd., 144A, | 100,000 | 105,563 | ||||||
United Airlines Holdings, Inc., | 33,000 | 33,454 | ||||||
|
| |||||||
(Cost $937,475) | 1,039,265 | |||||||
|
|
Principal | Value | |||||||
Apparel — 0.4% | ||||||||
Hanesbrands, Inc., 144A, | $ | 100,000 | $ | 104,938 | ||||
Levi Strauss & Co., | 75,000 | 76,828 | ||||||
|
| |||||||
(Cost $178,003) | 181,766 | |||||||
|
| |||||||
Auto Manufacturers — 5.9% | ||||||||
Ford Motor Co., | 225,000 | 273,430 | ||||||
Ford Motor Credit Co. LLC | 284,000 | 289,240 | ||||||
MTN, 3.55%, 10/7/22 | 649,000 | 665,309 | ||||||
4.375%, 8/6/23 | 218,000 | 228,604 | ||||||
3.664%, 9/8/24 | 542,000 | 559,021 | ||||||
Jaguar Land Rover Automotive PLC, 144A, | 200,000 | 199,000 | ||||||
Navistar International Corp., 144A, | 50,000 | 56,031 | ||||||
Tesla, Inc., 144A, | 125,000 | 130,244 | ||||||
|
| |||||||
(Cost $2,241,289) | 2,400,879 | |||||||
|
| |||||||
Auto Parts & Equipment — 1.5% | ||||||||
Adient US LLC, 144A, | 100,000 | 110,875 | ||||||
American Axle & Manufacturing, Inc., | 58,000 | 59,818 | ||||||
Clarios Global LP, 144A, | 50,000 | 53,754 | ||||||
Dana, Inc., | 80,000 | 81,550 | ||||||
Goodyear Tire & Rubber Co. | 83,000 | 83,623 | ||||||
9.50%, 5/31/25 | 100,000 | 112,490 | ||||||
ZF North America Capital, Inc., 144A, | 100,000 | 108,125 | ||||||
|
| |||||||
(Cost $557,538) | 610,235 | |||||||
|
| |||||||
Distribution/Wholesale — 0.7% | ||||||||
Avient Corp. | 32,000 | 34,500 | ||||||
144A, 5.75%, 5/15/25 | 75,000 | 79,609 | ||||||
Core & Main LP, 144A, | 60,000 | 61,468 | ||||||
Wolverine Escrow LLC, 144A, | 119,000 | 116,546 | ||||||
|
| |||||||
(Cost $277,926) | 292,123 | |||||||
|
| |||||||
Entertainment — 3.8% | ||||||||
AMC Entertainment Holdings, Inc., 144A, | 50,000 | 52,704 | ||||||
Caesars Entertainment, Inc., 144A, | 300,000 | 318,000 | ||||||
Caesars Resort Collection LLC / CRC Finco, Inc., 144A, | 150,000 | 149,099 |
See Notes to Financial Statements. | 29 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Entertainment (Continued) | ||||||||
Cedar Fair LP / Canada’s Wonderland Co. / Magnum Management Corp. / Millennium Op, 144A, | $ | 100,000 | $ | 104,937 | ||||
Cinemark USA, Inc. | 22,000 | 21,849 | ||||||
4.875%, 6/1/23 | 83,000 | 82,302 | ||||||
International Game Technology PLC, 144A, | 200,000 | 221,500 | ||||||
Lions Gate Capital Holdings LLC | 46,000 | 47,068 | ||||||
144A, 5.875%, 11/1/24 | 50,000 | 51,067 | ||||||
Live Nation Entertainment, Inc., 144A, | 48,000 | 48,618 | ||||||
Mohegan Gaming & Entertainment, 144A, | 100,000 | 98,763 | ||||||
Scientific Games International, Inc. | 40,000 | 43,125 | ||||||
144A, 5.00%, 10/15/25 | 100,000 | 102,838 | ||||||
Six Flags Entertainment Corp., 144A, | 100,000 | 100,245 | ||||||
Six Flags Theme Parks, Inc., 144A, | 47,000 | 50,756 | ||||||
Vail Resorts, Inc., 144A, | 50,000 | 53,457 | ||||||
|
| |||||||
(Cost $1,479,435) | 1,546,328 | |||||||
|
| |||||||
Food Service — 0.4% | ||||||||
Aramark Services, Inc., 144A, | 160,000 | 169,200 | ||||||
|
| |||||||
Home Builders — 0.5% | ||||||||
KB Home, | 29,000 | 29,859 | ||||||
Meritage Homes Corp., | 50,000 | 56,281 | ||||||
Toll Brothers Finance Corp. | 40,000 | 41,450 | ||||||
4.375%, 4/15/23 | 56,000 | 59,388 | ||||||
|
| |||||||
(Cost $178,114) | 186,978 | |||||||
|
| |||||||
Housewares — 0.3% | ||||||||
Newell Brands, Inc. | 46,000 | 48,415 | ||||||
4.875%, 6/1/25 | 50,000 | 55,048 | ||||||
|
| |||||||
(Cost $100,063) | 103,463 | |||||||
|
| |||||||
Leisure Time — 2.9% | ||||||||
Carnival Corp. | 300,000 | 342,436 | ||||||
144A, 10.50%, 2/1/26 | 65,000 | 75,644 | ||||||
Life Time, Inc., 144A, | 100,000 | 101,875 | ||||||
NCL Corp. Ltd., 144A, | 150,000 | 178,500 | ||||||
Royal Caribbean Cruises Ltd. | 50,000 | 51,039 | ||||||
144A, 10.875%, 6/1/23 | 75,000 | 85,102 |
Principal | Value | |||||||
Leisure Time (Continued) | ||||||||
144A, 9.125%, 6/15/23 | $ | 75,000 | $ | 82,406 | ||||
144A, 11.50%, 6/1/25 | 175,000 | 204,969 | ||||||
Viking Cruises Ltd., 144A, | 50,000 | 58,957 | ||||||
|
| |||||||
(Cost $1,111,407) | 1,180,928 | |||||||
|
| |||||||
Lodging — 2.4% | ||||||||
Boyd Gaming Corp., 144A, | 50,000 | 55,063 | ||||||
Diamond Resorts International, Inc. | 77,000 | 79,165 | ||||||
144A, 10.75%, 9/1/24 | 56,000 | 57,602 | ||||||
Marriott Ownership Resorts, Inc., 144A, | 50,000 | 53,250 | ||||||
MGM Resorts International | 128,000 | 135,440 | ||||||
6.00%, 3/15/23 | 104,000 | 111,020 | ||||||
6.75%, 5/1/25 | 50,000 | 53,610 | ||||||
5.75%, 6/15/25 | 50,000 | 55,151 | ||||||
Travel + Leisure Co. | 54,000 | 54,783 | ||||||
3.90%, 3/1/23 | 33,000 | 33,722 | ||||||
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp. | 104,000 | 105,235 | ||||||
144A, 5.50%, 3/1/25 | 149,000 | 158,126 | ||||||
|
| |||||||
(Cost $894,982) | 952,167 | |||||||
|
| |||||||
Retail — 4.6% | ||||||||
1011778 BC ULC / New Red Finance, Inc. | 65,000 | 65,715 | ||||||
144A, 5.75%, 4/15/25 | 90,000 | 96,104 | ||||||
Beacon Roofing Supply, Inc., 144A, | 109,000 | 109,961 | ||||||
Carvana Co., 144A, | 110,000 | 114,812 | ||||||
Ferrellgas LP / Ferrellgas Finance Corp. | 74,000 | 72,973 | ||||||
6.75%, 1/15/22 | 39,000 | 38,391 | ||||||
6.75%, 6/15/23 (a) | 42,000 | 42,079 | ||||||
Gap, Inc., 144A, | 100,000 | 111,646 | ||||||
Golden Nugget, Inc. | 112,000 | 114,031 | ||||||
144A, 8.75%, 10/1/25 (a) | 50,000 | 53,287 | ||||||
IRB Holding Corp., 144A, | 60,000 | 65,206 | ||||||
L Brands, Inc., 144A, | 50,000 | 61,938 | ||||||
Macy’s Retail Holdings LLC, | 134,000 | 133,359 | ||||||
Macy’s, Inc., 144A, | 100,000 | 110,644 | ||||||
Party City Holdings, Inc., 144A, | 65,000 | 66,422 | ||||||
Penske Automotive Group, Inc., | 50,000 | 50,938 | ||||||
PetSmart, Inc., 144A, | 181,000 | 181,552 |
See Notes to Financial Statements. | 30 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Retail (Continued) | ||||||||
QVC, Inc. | $ | 62,000 | $ | 65,088 | ||||
4.85%, 4/1/24 | 50,000 | 53,813 | ||||||
4.45%, 2/15/25 | 50,000 | 53,250 | ||||||
Rite Aid Corp., 144A, | 91,000 | 95,948 | ||||||
Suburban Propane Partners LP/Suburban Energy Finance Corp., | 44,000 | 44,797 | ||||||
Yum! Brands, Inc., 144A, | 50,000 | 54,750 | ||||||
|
| |||||||
(Cost $1,714,552) | 1,856,704 | |||||||
|
| |||||||
Consumer, Non-cyclical — 11.4% | ||||||||
Commercial Services — 2.0% | ||||||||
ADT Security Corp. | 50,000 | 50,469 | ||||||
4.125%, 6/15/23 | 98,000 | 102,295 | ||||||
APX Group, Inc. | 69,000 | 69,302 | ||||||
7.625%, 9/1/23 | 33,000 | 34,372 | ||||||
Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 144A, | 100,000 | 119,530 | ||||||
Nielsen Co. Luxembourg SARL, 144A, | 53,000 | 54,418 | ||||||
Nielsen Finance LLC / Nielsen Finance Co., 144A, | 43,000 | 43,132 | ||||||
Prime Security Services Borrower LLC / Prime Finance, Inc., 144A, | 92,000 | 98,210 | ||||||
Sabre GLBL, Inc. | 50,000 | 59,375 | ||||||
144A, 7.375%, 9/1/25 | 75,000 | 80,737 | ||||||
Team Health Holdings, Inc., 144A, | 59,000 | 53,432 | ||||||
WEX, Inc., 144A, | 37,000 | 37,037 | ||||||
|
| |||||||
(Cost $736,653) | 802,309 | |||||||
|
| |||||||
Cosmetics/Personal Care — 0.2% | ||||||||
Avon Products, Inc., | 38,000 | 40,755 | ||||||
Edgewell Personal Care Co., | 42,000 | 43,990 | ||||||
Revlon Consumer Products Corp., | 38,000 | 12,635 | ||||||
|
| |||||||
(Cost $88,495) | 97,380 | |||||||
|
| |||||||
Food — 1.6% | ||||||||
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC, 144A, | 68,000 | 69,952 | ||||||
B&G Foods, Inc., | 75,000 | 76,980 | ||||||
Kraft Heinz Foods Co., | 125,000 | 138,683 |
Principal | Value | |||||||
Food (Continued) | ||||||||
Lamb Weston Holdings, Inc., 144A, | $ | 69,000 | $ | 71,794 | ||||
Pilgrim’s Pride Corp., 144A, | 100,000 | 102,105 | ||||||
TreeHouse Foods, Inc., 144A, | 31,000 | 31,646 | ||||||
US Foods, Inc., 144A, | 133,000 | 141,989 | ||||||
|
| |||||||
(Cost $619,872) | 633,149 | |||||||
|
| |||||||
Healthcare-Services — 4.2% | ||||||||
Acadia Healthcare Co., Inc., | 35,000 | 35,000 | ||||||
CHS/Community Health Systems, Inc. | 125,000 | 130,625 | ||||||
144A, 6.625%, 2/15/25 | 100,000 | 105,350 | ||||||
HCA, Inc. | 66,000 | 72,119 | ||||||
5.375%, 2/1/25 | 249,000 | 279,872 | ||||||
5.875%, 2/15/26 | 100,000 | 115,720 | ||||||
Legacy LifePoint Health LLC, 144A, | 100,000 | 106,000 | ||||||
Molina Healthcare, Inc., | 108,000 | 114,278 | ||||||
Tenet Healthcare Corp. | 188,000 | 203,149 | ||||||
4.625%, 7/15/24 | 155,000 | 157,480 | ||||||
144A, 4.625%, 9/1/24 | 50,000 | 51,297 | ||||||
5.125%, 5/1/25 | 115,000 | 116,294 | ||||||
144A, 4.875%, 1/1/26 | 200,000 | 206,986 | ||||||
|
| |||||||
(Cost $1,617,817) | 1,694,170 | |||||||
|
| |||||||
Pharmaceuticals — 3.4% | ||||||||
Bausch Health Cos., Inc. | 181,000 | 185,084 | ||||||
144A, 6.125%, 4/15/25 | 270,000 | 276,383 | ||||||
Elanco Animal Health, Inc. | 42,000 | 42,656 | ||||||
5.272%, 8/28/23 | 62,000 | 66,766 | ||||||
Prestige Brands, Inc., 144A, | 60,000 | 60,956 | ||||||
Teva Pharmaceutical Finance Co. BV Series 2, | 51,000 | 51,526 | ||||||
2.95%, 12/18/22 | 85,000 | 85,355 | ||||||
Teva Pharmaceutical Finance Netherlands III BV 2.20%, 7/21/21 | 137,000 | 137,257 | ||||||
2.80%, 7/21/23 | 190,000 | 186,437 | ||||||
6.00%, 4/15/24 | 100,000 | 104,983 | ||||||
7.125%, 1/31/25 | 170,000 | 184,343 | ||||||
|
| |||||||
(Cost $1,349,972) | 1,381,746 | |||||||
|
| |||||||
Diversified — 0.1% | ||||||||
Holding Companies-Diversified — 0.1% | ||||||||
Stena AB, 144A, | 50,000 | 49,432 | ||||||
|
|
See Notes to Financial Statements. | 31 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Energy — 12.9% | ||||||||
Energy-Alternate Sources — 0.1% | ||||||||
TerraForm Power Operating LLC, 144A, | $ | 41,000 | $ | 41,897 | ||||
|
| |||||||
Oil & Gas — 8.0% | ||||||||
Antero Resources Corp. | 62,000 | 62,152 | ||||||
5.00%, 3/1/25 | 50,000 | 49,800 | ||||||
Apache Corp., | 50,000 | 51,875 | ||||||
Callon Petroleum Co. | 25,000 | 23,312 | ||||||
6.125%, 10/1/24 | 40,000 | 34,900 | ||||||
Calumet Specialty Products Partners LP / Calumet Finance Corp., 144A, 11.00%, 4/15/25 | 50,000 | 50,744 | ||||||
Citgo Holding, Inc., 144A, | 125,000 | 123,359 | ||||||
CITGO Petroleum Corp., 144A, | 239,000 | 239,669 | ||||||
Comstock Resources, Inc., 144A, | 50,000 | 52,219 | ||||||
Continental Resources, Inc. | 24,000 | 24,681 | ||||||
3.80%, 6/1/24 | 104,000 | 106,702 | ||||||
CrownRock LP / CrownRock Finance, Inc., 144A, 5.625%, 10/15/25 | 90,000 | 91,071 | ||||||
CVR Energy, Inc., 144A, | 50,000 | 49,425 | ||||||
Endeavor Energy Resources LP / EER Finance, Inc., 144A, | 50,000 | 52,632 | ||||||
EQT Corp. | 9,000 | 9,089 | ||||||
7.625%, 2/1/25 | 96,000 | 111,645 | ||||||
Laredo Petroleum, Inc., | 55,000 | 52,353 | ||||||
Leviathan Bond Ltd. | 50,000 | 52,975 | ||||||
144A,REGS, 6.125%, 6/30/25 | 65,000 | 71,503 | ||||||
MEG Energy Corp., 144A, | 50,000 | 51,625 | ||||||
Moss Creek Resources Holdings, Inc., 144A, | 60,000 | 49,913 | ||||||
Murphy Oil Corp. | 57,000 | 57,926 | ||||||
5.75%, 8/15/25 | 40,000 | 39,704 | ||||||
Nabors Industries Ltd., 144A, | 50,000 | 44,485 | ||||||
Nabors Industries, Inc., | 77,000 | 61,263 | ||||||
Occidental Petroleum Corp. | 49,000 | 47,990 | ||||||
2.90%, 8/15/24 | 310,000 | 301,708 | ||||||
3.50%, 6/15/25 | 160,000 | 157,501 | ||||||
5.875%, 9/1/25 (a) | 100,000 | 108,650 |
Principal | Value | |||||||
Oil & Gas (Continued) | ||||||||
Ovintiv Exploration, Inc. | $ | 100,000 | $ | 109,735 | ||||
5.375%, 1/1/26 | 100,000 | 110,733 | ||||||
PBF Holding Co. LLC / PBF Finance Corp. | 90,000 | 87,851 | ||||||
7.25%, 6/15/25 | 100,000 | 69,188 | ||||||
PDC Energy, Inc., | 50,000 | 51,179 | ||||||
QEP Resources, Inc. | 46,000 | 48,033 | ||||||
5.25%, 5/1/23 | 60,000 | 63,735 | ||||||
Range Resources Corp. | 64,000 | 64,440 | ||||||
4.875%, 5/15/25 | 50,000 | 49,513 | ||||||
Seven Generations Energy Ltd., 144A, | 50,000 | 52,096 | ||||||
SM Energy Co., 144A, | 34,000 | 38,314 | ||||||
Southwestern Energy Co., | 83,000 | 87,306 | ||||||
Transocean, Inc. | 35,000 | 23,625 | ||||||
144A, 7.50%, 1/15/26 | 50,000 | 32,000 | ||||||
WPX Energy, Inc., | 100,000 | 111,375 | ||||||
|
| |||||||
(Cost $2,883,197) | 3,229,994 | |||||||
|
| |||||||
Oil & Gas Services — 0.8% | ||||||||
TechnipFMC PLC, 144A, | 100,000 | 104,577 | ||||||
Weatherford International Ltd. | 50,000 | 52,656 | ||||||
144A, 11.00%, 12/1/24 | 174,000 | 171,338 | ||||||
|
| |||||||
(Cost $269,657) | 328,571 | |||||||
|
| |||||||
Pipelines — 4.0% | ||||||||
Antero Midstream Partners LP / Antero Midstream Finance Corp., | 54,000 | 54,540 | ||||||
Blue Racer Midstream LLC / Blue Racer Finance Corp., 144A, | 50,000 | 53,854 | ||||||
Buckeye Partners LP | 100,000 | 101,576 | ||||||
144A, 4.125%, 3/1/25 | 40,000 | 40,975 | ||||||
Cheniere Energy Partners LP, | 125,000 | 128,631 | ||||||
Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp., 5.75%, 4/1/25 | 50,000 | 50,402 | ||||||
DCP Midstream Operating LP | 73,000 | 75,372 | ||||||
5.375%, 7/15/25 | 60,000 | 64,075 | ||||||
EnLink Midstream Partners LP | 50,000 | 50,438 | ||||||
4.15%, 6/1/25 | 50,000 | 49,750 |
See Notes to Financial Statements. | 32 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Pipelines (Continued) | ||||||||
EQM Midstream Partners LP | $ | 50,000 | $ | 51,640 | ||||
4.00%, 8/1/24 | 25,000 | 25,289 | ||||||
144A, 6.00%, 7/1/25 | 50,000 | 52,937 | ||||||
Genesis Energy LP / Genesis Energy Finance Corp., | 40,000 | 38,887 | ||||||
New Fortress Energy, Inc., 144A, | 75,000 | 77,940 | ||||||
NGL Energy Operating LLC / NGL Energy Finance Corp., 144A, | 175,000 | 180,806 | ||||||
NGL Energy Partners LP / NGL Energy Finance Corp., | 56,000 | 53,865 | ||||||
NuStar Logistics LP, | 100,000 | 106,650 | ||||||
Rockies Express Pipeline LLC, 144A, | 25,000 | 25,547 | ||||||
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp. | 54,000 | 54,443 | ||||||
144A, 7.50%, 10/1/25 | 50,000 | 53,409 | ||||||
Targa Resources Partners LP / Targa Resources Partners Finance Corp., 4.25%, 11/15/23 | 81,000 | 81,235 | ||||||
Western Midstream Operating LP, | 150,000 | 154,020 | ||||||
|
| |||||||
(Cost $1,528,416) | 1,626,281 | |||||||
|
| |||||||
Financial — 10.3% | ||||||||
Banks — 2.2% | ||||||||
CIT Group, Inc. | 220,000 | 232,417 | ||||||
5.00%, 8/1/23 | 159,000 | 173,807 | ||||||
Freedom Mortgage Corp., 144A, | 81,000 | 84,290 | ||||||
Intesa Sanpaolo SpA | 165,000 | 179,802 | ||||||
144A, 5.71%, 1/15/26 | 200,000 | 225,043 | ||||||
|
| |||||||
(Cost $845,074) | 895,359 | |||||||
|
| |||||||
Diversified Financial Services — 3.1% | ||||||||
Ally Financial, Inc., | 100,000 | 114,257 | ||||||
LPL Holdings, Inc., 144A, | 90,000 | 92,943 | ||||||
Navient Corp. | 52,000 | 52,877 | ||||||
MTN, 7.25%, 1/25/22 | 77,000 | 80,032 | ||||||
6.50%, 6/15/22 | 54,000 | 56,167 | ||||||
5.50%, 1/25/23 | 100,000 | 103,687 | ||||||
7.25%, 9/25/23 | 95,000 | 103,253 | ||||||
MTN, 6.125%, 3/25/24 | 45,000 | 47,587 | ||||||
5.875%, 10/25/24 | 41,000 | 43,255 | ||||||
6.75%, 6/25/25 | 50,000 | 53,860 |
Principal | Value | |||||||
Diversified Financial Services (Continued) | ||||||||
OneMain Finance Corp. | $ | 94,000 | $ | 98,348 | ||||
5.625%, 3/15/23 | 72,000 | 76,725 | ||||||
6.125%, 3/15/24 | 107,000 | 115,159 | ||||||
6.875%, 3/15/25 | 103,000 | 116,365 | ||||||
8.875%, 6/1/25 | 50,000 | 55,023 | ||||||
PennyMac Financial Services, Inc., 144A, | 55,000 | 57,544 | ||||||
|
| |||||||
(Cost $1,197,383) | 1,267,082 | |||||||
|
| |||||||
Insurance — 0.5% | ||||||||
AssuredPartners, Inc., 144A, | 25,000 | 25,639 | ||||||
Genworth Holdings, Inc., | 58,000 | 57,855 | ||||||
Radian Group, Inc., | 100,000 | 111,782 | ||||||
|
| |||||||
(Cost $185,308) | 195,276 | |||||||
|
| |||||||
Real Estate — 0.2% | ||||||||
Realogy Group LLC / Realogy Co.-Issuer Corp. | 42,000 | 43,706 | ||||||
144A, 7.625%, 6/15/25 | 50,000 | 54,326 | ||||||
|
| |||||||
(Cost $89,800) | 98,032 | |||||||
|
| |||||||
Real Estate Investment Trusts — 3.8% | ||||||||
Diversified Healthcare Trust, | 75,000 | 84,562 | ||||||
ESH Hospitality, Inc., 144A, | 100,000 | 102,085 | ||||||
HAT Holdings I LLC / HAT Holdings II LLC, 144A, | 100,000 | 103,551 | ||||||
iStar, Inc. | 64,000 | 65,794 | ||||||
4.25%, 8/1/25 | 50,000 | 50,101 | ||||||
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., 144A, 5.25%, 3/15/22 | 41,000 | 41,282 | ||||||
MGM Growth Properties Operating Partnership LP / MGP Finance Co-Issuer, Inc. 5.625%, 5/1/24 | 100,000 | 108,188 | ||||||
144A, 4.625%, 6/15/25 | 75,000 | 79,575 | ||||||
Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co.-Issuer, 144A, 7.50%, 6/1/25 | 50,000 | 54,304 | ||||||
SBA Communications Corp., | 60,000 | 61,617 | ||||||
Service Properties Trust | 150,000 | 152,435 | ||||||
4.35%, 10/1/24 | 100,000 | 99,375 | ||||||
7.50%, 9/15/25 | 50,000 | 56,765 | ||||||
Starwood Property Trust, Inc. | 55,000 | 55,928 | ||||||
4.75%, 3/15/25 | 50,000 | 51,265 |
See Notes to Financial Statements. | 33 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Real Estate Investment Trusts (Continued) | ||||||||
Uniti Group LP / Uniti Fiber Holdings, Inc. / CSL Capital LLC | $ | 50,000 | $ | 51,474 | ||||
144A, 7.875%, 2/15/25 | 187,000 | 201,781 | ||||||
Uniti Group LP / Uniti Group Finance, Inc. / CSL Capital LLC, 144A, | 46,000 | 46,776 | ||||||
VICI Properties LP / VICI Note Co., Inc., 144A, | 50,000 | 50,781 | ||||||
|
| |||||||
(Cost $1,448,930) | 1,517,639 | |||||||
|
| |||||||
Venture Capital — 0.5% | ||||||||
Icahn Enterprises LP / Icahn Enterprises Finance Corp. 6.25%, 2/1/22 | 36,000 | 36,018 | ||||||
6.75%, 2/1/24 | 65,000 | 66,381 | ||||||
4.75%, 9/15/24 | 85,000 | 89,490 | ||||||
|
| |||||||
(Cost $180,751) | 191,889 | |||||||
|
| |||||||
Industrial — 8.5% | ||||||||
Aerospace/Defense — 1.4% | ||||||||
Howmet Aerospace, Inc. | 37,000 | 38,249 | ||||||
5.125%, 10/1/24 | 104,000 | 113,219 | ||||||
6.875%, 5/1/25 (a) | 100,000 | 115,870 | ||||||
Spirit AeroSystems, Inc., 144A, | 100,000 | 106,000 | ||||||
TransDigm, Inc., | 50,000 | 51,050 | ||||||
Triumph Group, Inc. | 50,000 | 55,344 | ||||||
144A, 6.25%, 9/15/24 | 44,000 | 44,385 | ||||||
7.75%, 8/15/25 (a) | 50,000 | 49,125 | ||||||
|
| |||||||
(Cost $517,710) | 573,242 | |||||||
|
| |||||||
Electrical Components & Equipment — 0.3% | ||||||||
WESCO Distribution, Inc., 144A, | 130,000 | 140,849 | ||||||
|
| |||||||
Electronics — 0.3% | ||||||||
Sensata Technologies BV | 57,000 | 60,848 | ||||||
144A, 5.625%, 11/1/24 | 48,000 | 53,070 | ||||||
|
| |||||||
(Cost $110,822) | 113,918 | |||||||
|
| |||||||
Engineering & Construction — 0.5% | ||||||||
AECOM, | 50,000 | 55,625 | ||||||
Brand Industrial Services, Inc., 144A, | 77,000 | 77,192 | ||||||
Fluor Corp., | 50,000 | 50,715 | ||||||
|
| |||||||
(Cost $168,454) | 183,532 | |||||||
|
| |||||||
Environmental Control — 0.6% | ||||||||
GFL Environmental, Inc., 144A, | 100,000 | 102,708 |
Principal | Value | |||||||
Environmental Control (Continued) | ||||||||
Stericycle, Inc., 144A, | $ | 149,000 | $ | 154,215 | ||||
|
| |||||||
(Cost $253,863) | 256,923 | |||||||
|
| |||||||
Machinery-Diversified — 0.2% | ||||||||
Maxim Crane Works Holdings Capital LLC, 144A, | 45,000 | 47,367 | ||||||
Welbilt, Inc., | 35,000 | 35,897 | ||||||
|
| |||||||
(Cost $70,502) | 83,264 | |||||||
|
| |||||||
Miscellaneous Manufacturing — 1.5% | ||||||||
Bombardier, Inc. | 50,000 | 51,917 | ||||||
144A, 5.75%, 3/15/22 | 47,000 | 47,752 | ||||||
144A, 6.00%, 10/15/22 | 142,000 | 139,611 | ||||||
144A, 6.125%, 1/15/23 | 66,000 | 65,356 | ||||||
144A, 7.50%, 12/1/24 | 100,000 | 94,000 | ||||||
144A, 7.50%, 3/15/25 | 125,000 | 114,492 | ||||||
FXI Holdings, Inc., 144A, | 40,000 | 40,700 | ||||||
Hillenbrand, Inc., | 50,000 | 53,219 | ||||||
|
| |||||||
(Cost $545,649) | 607,047 | |||||||
|
| |||||||
Packaging & Containers — 3.0% | ||||||||
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc., 144A, | 188,000 | 194,524 | ||||||
Ball Corp. | 77,000 | 79,801 | ||||||
4.00%, 11/15/23 | 83,000 | 87,928 | ||||||
5.25%, 7/1/25 | 90,000 | 101,419 | ||||||
Berry Global, Inc., 144A, | 100,000 | 100,193 | ||||||
Crown Americas LLC / Crown Americas Capital Corp. IV, | 83,000 | 87,461 | ||||||
Flex Acquisition Co., Inc., 144A, | 52,000 | 52,806 | ||||||
Mauser Packaging Solutions Holding Co. 144A, 5.50%, 4/15/24 | 123,000 | 123,641 | ||||||
144A, 7.25%, 4/15/25 | 112,000 | 110,811 | ||||||
Owens-Brockway Glass Container, Inc., 144A, | 58,000 | 62,459 | ||||||
Sealed Air Corp. | 79,000 | 82,506 | ||||||
144A, 5.125%, 12/1/24 | 50,000 | 54,844 | ||||||
144A, 5.50%, 9/15/25 | 50,000 | 55,656 | ||||||
|
| |||||||
(Cost $1,148,508) | 1,194,049 | |||||||
|
| |||||||
Transportation — 0.4% | ||||||||
Kenan Advantage Group, Inc., 144A, | 34,000 | 33,784 |
See Notes to Financial Statements. | 34 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Transportation (Continued) | ||||||||
XPO Logistics, Inc., 144A, | $ | 130,000 | $ | 136,662 | ||||
|
| |||||||
(Cost $163,507) | 170,446 | |||||||
|
| |||||||
Trucking & Leasing — 0.3% | ||||||||
Fortress Transportation and Infrastructure Investors LLC | 58,000 | 58,036 | ||||||
144A, 6.50%, 10/1/25 | 50,000 | 52,114 | ||||||
|
| |||||||
(Cost $106,899) | 110,150 | |||||||
|
| |||||||
Technology — 4.8% | ||||||||
Computers — 2.1% | ||||||||
Dell International LLC / EMC Corp., 144A, | 56,000 | 56,070 | ||||||
Dell, Inc., | 33,000 | 33,020 | ||||||
Diebold Nixdorf, Inc. | 33,000 | 33,701 | ||||||
144A, 9.375%, 7/15/25 | 50,000 | 55,969 | ||||||
EMC Corp., | 98,000 | 101,802 | ||||||
Exela Intermediate LLC / Exela Finance, Inc., 144A, 10.00%, 7/15/23 | 81,000 | 26,224 | ||||||
NCR Corp., | 40,000 | 43,750 | ||||||
Seagate HDD Cayman, | 100,000 | 108,437 | ||||||
Tempo Acquisition LLC / Tempo Acquisition Finance Corp., 144A, | 115,000 | 118,163 | ||||||
Vericast Corp., 144A, | 66,000 | 66,577 | ||||||
Western Digital Corp., | 200,000 | 221,500 | ||||||
|
| |||||||
(Cost $843,869) | 865,213 | |||||||
|
| |||||||
Office/Business Equipment — 0.8% | ||||||||
CDW LLC / CDW Finance Corp. | 48,000 | 53,070 | ||||||
4.125%, 5/1/25 | 50,000 | 51,675 | ||||||
Xerox Corp., | 98,000 | 102,400 | ||||||
Xerox Holdings Corp., 144A, | 100,000 | 105,750 | ||||||
|
| |||||||
(Cost $302,777) | 312,895 | |||||||
|
| |||||||
Semiconductors — 0.3% | ||||||||
Microchip Technology, Inc., 144A, | 115,000 | 120,600 | ||||||
|
| |||||||
Software — 1.6% | ||||||||
Boxer Parent Co., Inc., 144A, | 50,000 | 54,197 | ||||||
CDK Global, Inc., | 42,000 | 46,515 |
Principal | Value | |||||||
Software (Continued) | ||||||||
Change Healthcare Holdings LLC / Change Healthcare Finance, Inc., 144A, | $ | 110,000 | $ | 112,830 | ||||
PTC, Inc., 144A, | 42,000 | 43,076 | ||||||
Solera LLC / Solera Finance, Inc., 144A, | 166,000 | 172,018 | ||||||
Veritas US, Inc. / Veritas Bermuda Ltd. | 50,000 | 50,440 | ||||||
144A, 7.50%, 9/1/25 | 150,000 | 155,663 | ||||||
|
| |||||||
(Cost $606,827) | 634,739 | |||||||
|
| |||||||
Utilities — 1.3% | ||||||||
Electric — 1.0% | ||||||||
FirstEnergy Transmission LLC, 144A, | 150,000 | 162,773 | ||||||
NextEra Energy Operating Partners LP, 144A, 4.25%, 7/15/24 | 73,000 | 77,289 | ||||||
Talen Energy Supply LLC | 50,000 | 43,844 | ||||||
144A, 10.50%, 1/15/26 | 50,000 | 48,375 | ||||||
TransAlta Corp., | 90,000 | 93,600 | ||||||
|
| |||||||
(Cost $408,607) | 425,881 | |||||||
|
| |||||||
Gas — 0.3% | ||||||||
AmeriGas Partners LP / AmeriGas Finance Corp. | 56,000 | 62,107 | ||||||
5.50%, 5/20/25 | 50,000 | 54,987 | ||||||
|
| |||||||
(Cost $111,000) | 117,094 | |||||||
|
| |||||||
TOTAL CORPORATE BONDS | 37,985,298 | |||||||
|
| |||||||
Number | ||||||||
SECURITIES LENDING COLLATERAL — 2.7% | ||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (b)(c) | 1,098,960 | 1,098,960 | ||||||
|
| |||||||
CASH EQUIVALENTS — 7.5% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (b) | 3,035,662 | 3,035,662 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 104.0% (Cost $39,964,366) | $ | 42,119,920 | ||||||
Other assets and liabilities, | (1,613,449 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 40,506,471 | ||||||
|
|
See Notes to Financial Statements. | 35 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
February 28, 2021 (Unaudited)
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2021 is as follows:
Value ($) at 8/31/2020 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/ (Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2021 | Value ($) at 2/28/2021 | ||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 2.7% |
| |||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (b)(c) |
| |||||||||||||||||||||||||||||||||||
1,815,630 | — | (716,670 | )(d) | — | — | 210 | — | 1,098,960 | 1,098,960 | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 7.5% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (b) |
| |||||||||||||||||||||||||||||||||||
1,670,002 | 8,657,310 | (7,291,650 | ) | — | — | 203 | — | 3,035,662 | 3,035,662 | |||||||||||||||||||||||||||
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3,485,632 | 8,657,310 | (8,008,320 | ) | — | — | 413 | — | 4,134,622 | 4,134,622 | |||||||||||||||||||||||||||
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(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, 2021 amounted to $1,332,296, which is 3.3% 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 $286,817. |
(d) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2021. |
MTN: | Medium Term Note |
REGS: | Securities sold under Regulation S may not be offered, sold or delivered within the United States or to, or for the account or benefit of, U.S. persons, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933. |
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. |
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, 2021 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 | ||||||||||||
Corporate Bonds (e) | $ | — | $ | 37,985,298 | $ | — | $ | 37,985,298 | ||||||||
Short-Term Investments (e) | 4,134,622 | — | — | 4,134,622 | ||||||||||||
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TOTAL | $ | 4,134,622 | $ | 37,985,298 | $ | — | $ | 42,119,920 | ||||||||
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(e) | See Schedule of Investments for additional detailed categorizations. |
See Notes to Financial Statements. | 36 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF
February 28, 2021 (Unaudited)
Principal | Value | |||||||
CORPORATE BONDS — 98.4% | ||||||||
Basic Materials — 4.3% | ||||||||
Chemicals — 1.7% | ||||||||
Ashland LLC, | $ | 2,772,000 | $ | 2,881,147 | ||||
Axalta Coating Systems LLC, 144A, | 4,805,000 | 4,675,866 | ||||||
Blue Cube Spinco LLC, | 1,932,000 | 2,046,471 | ||||||
CF Industries, Inc., | 4,597,000 | 4,798,119 | ||||||
Chemours Co. | 4,846,000 | 5,000,490 | ||||||
5.375%, 5/15/27 (a) | 3,204,000 | 3,378,217 | ||||||
144A, 5.75%, 11/15/28 | 5,370,000 | 5,514,319 | ||||||
Consolidated Energy Finance SA | 3,372,000 | 3,437,332 | ||||||
144A, 6.50%, 5/15/26 (a) | 2,542,000 | 2,573,775 | ||||||
Hexion, Inc., 144A, | 2,813,000 | 2,987,054 | ||||||
INEOS Group Holdings SA, 144A, | 2,981,000 | 3,035,627 | ||||||
INEOS Quattro Finance 2 PLC, 144A, | 3,583,000 | 3,578,521 | ||||||
Methanex Corp. | 4,647,000 | 4,811,736 | ||||||
5.25%, 12/15/29 | 4,620,000 | 4,747,050 | ||||||
Nouryon Holding BV, 144A, | 3,978,000 | 4,240,449 | ||||||
NOVA Chemicals Corp. | 3,314,000 | 3,304,307 | ||||||
144A, 4.875%, 6/1/24 | 6,831,000 | 7,082,893 | ||||||
144A, 5.00%, 5/1/25 | 3,380,000 | 3,504,637 | ||||||
144A, 5.25%, 6/1/27 | 6,835,000 | 7,134,031 | ||||||
OCI NV | 3,859,000 | 3,996,477 | ||||||
144A, 4.625%, 10/15/25 | 2,872,000 | 2,982,357 | ||||||
Olin Corp. | 3,337,000 | 4,133,227 | ||||||
5.125%, 9/15/27 | 4,674,000 | 4,852,428 | ||||||
5.625%, 8/1/29 | 4,387,000 | 4,737,982 | ||||||
5.00%, 2/1/30 | 3,626,000 | 3,805,541 | ||||||
SPCM SA, 144A, | 3,870,000 | 3,990,938 | ||||||
TPC Group, Inc., 144A, | 6,200,000 | 5,669,776 | ||||||
Tronox, Inc. | 3,140,000 | 3,371,575 | ||||||
144A, 6.50%, 4/15/26 (a) | 4,281,000 | 4,426,040 | ||||||
Valvoline, Inc. | 3,679,000 | 3,794,889 | ||||||
144A, 3.625%, 6/15/31 | 3,720,000 | 3,668,850 | ||||||
WR Grace & Co.-Conn, 144A, | 4,935,000 | 5,122,777 | ||||||
|
| |||||||
(Cost $131,639,263) | 133,284,898 | |||||||
|
|
Principal | Value | |||||||
Forest Products & Paper — 0.1% | ||||||||
Mercer International, Inc., 144A, | $ | 5,917,000 | $ | 6,027,944 | ||||
|
| |||||||
Iron/Steel — 0.8% | ||||||||
Allegheny Technologies, Inc., | 3,423,000 | 3,740,911 | ||||||
ArcelorMittal SA | 4,951,000 | 5,251,031 | ||||||
4.55%, 3/11/26 | 5,056,000 | 5,635,811 | ||||||
4.25%, 7/16/29 | 3,271,000 | 3,641,269 | ||||||
Cleveland-Cliffs, Inc. | 6,334,000 | 7,410,780 | ||||||
144A, 6.75%, 3/15/26 | 5,654,000 | 6,063,915 | ||||||
5.875%, 6/1/27 (a) | 3,725,000 | 3,807,732 | ||||||
144A, 4.625%, 3/1/29 | 3,400,000 | 3,332,850 | ||||||
144A, 4.875%, 3/1/31 | 3,200,000 | 3,137,120 | ||||||
United States Steel Corp. | 2,328,000 | 2,797,558 | ||||||
6.875%, 8/15/25 (a) | 4,951,000 | 4,889,113 | ||||||
6.25%, 3/15/26 (a) | 4,072,000 | 3,918,180 | ||||||
6.875%, 3/1/29 | 5,000,000 | 4,909,375 | ||||||
|
| |||||||
(Cost $56,261,696) | 58,535,645 | |||||||
|
| |||||||
Mining — 1.7% | ||||||||
Alcoa Nederland Holding BV | 4,458,000 | 4,633,534 | ||||||
144A, 7.00%, 9/30/26 | 3,852,000 | 4,051,822 | ||||||
144A, 5.50%, 12/15/27 | 5,591,000 | 5,933,449 | ||||||
144A, 6.125%, 5/15/28 | 2,372,000 | 2,578,067 | ||||||
Arconic Corp. | 4,829,000 | 5,139,867 | ||||||
144A, 6.125%, 2/15/28 | 3,895,000 | 4,117,813 | ||||||
Constellium SE | 2,742,000 | 2,789,697 | ||||||
144A, 5.875%, 2/15/26 | 3,088,000 | 3,180,254 | ||||||
144A, 3.75%, 4/15/29 | 3,400,000 | 3,379,430 | ||||||
FMG Resources August 2006 Pty Ltd. | 4,843,000 | 4,979,209 | ||||||
144A, 5.125%, 3/15/23 | 4,018,000 | 4,238,990 | ||||||
144A, 5.125%, 5/15/24 | 4,612,000 | 4,995,373 | ||||||
144A, 4.50%, 9/15/27 | 3,772,000 | 4,150,860 | ||||||
Freeport-McMoRan, Inc. | 3,966,000 | 4,034,314 | ||||||
3.875%, 3/15/23 | 7,008,000 | 7,321,258 | ||||||
4.55%, 11/14/24 | 4,366,000 | 4,816,244 | ||||||
5.00%, 9/1/27 | 4,600,000 | 4,924,484 | ||||||
4.125%, 3/1/28 | 4,589,000 | 4,827,054 | ||||||
4.375%, 8/1/28 | 4,277,000 | 4,557,678 | ||||||
5.25%, 9/1/29 | 3,945,000 | 4,390,351 | ||||||
4.25%, 3/1/30 | 3,786,000 | 4,113,716 | ||||||
4.625%, 8/1/30 | 5,544,000 | 6,135,961 | ||||||
Hudbay Minerals, Inc. | 3,518,000 | 3,669,256 | ||||||
144A, 6.125%, 4/1/29 | 3,882,000 | 4,193,375 | ||||||
Joseph T Ryerson & Son, Inc., 144A, | 3,017,000 | 3,309,272 |
See Notes to Financial Statements. | 37 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Mining (Continued) | ||||||||
Novelis Corp. | $ | 9,958,000 | $ | 10,393,663 | ||||
144A, 4.75%, 1/30/30 | 10,562,000 | 11,027,520 | ||||||
|
| |||||||
(Cost $130,439,002) | 131,882,511 | |||||||
|
| |||||||
Communications — 18.9% | ||||||||
Advertising — 0.5% | ||||||||
Clear Channel Outdoor Holdings, Inc., 144A, | 6,700,000 | 6,796,982 | ||||||
Lamar Media Corp. | 3,804,000 | 3,858,683 | ||||||
4.00%, 2/15/30 | 3,763,000 | 3,845,316 | ||||||
144A, 3.625%, 1/15/31 | 3,500,000 | 3,462,830 | ||||||
Outfront Media Capital LLC / Outfront Media Capital Corp. | 2,648,000 | 2,811,845 | ||||||
144A, 5.00%, 8/15/27 | 3,913,000 | 3,983,199 | ||||||
144A, 4.25%, 1/15/29 | 3,800,000 | 3,700,250 | ||||||
144A, 4.625%, 3/15/30 | 3,191,000 | 3,163,079 | ||||||
Terrier Media Buyer, Inc., 144A, | 6,696,000 | 7,181,460 | ||||||
|
| |||||||
(Cost $38,804,114) | 38,803,644 | |||||||
|
| |||||||
Internet — 1.9% | ||||||||
Arches Buyer, Inc. | 4,856,000 | 4,905,531 | ||||||
144A, 6.125%, 12/1/28 (a) | 3,091,000 | 3,201,071 | ||||||
Match Group Holdings II LLC | 2,971,000 | 3,123,828 | ||||||
144A, 4.625%, 6/1/28 | 3,169,000 | 3,295,934 | ||||||
144A, 4.125%, 8/1/30 | 3,326,000 | 3,443,973 | ||||||
Netflix, Inc. | 2,641,000 | 2,969,474 | ||||||
5.875%, 2/15/25 | 5,281,000 | 6,049,914 | ||||||
144A, 3.625%, 6/15/25 | 3,384,000 | 3,610,305 | ||||||
4.375%, 11/15/26 (a) | 6,681,000 | 7,506,271 | ||||||
4.875%, 4/15/28 | 10,530,000 | 11,990,195 | ||||||
5.875%, 11/15/28 | 12,549,000 | 15,036,839 | ||||||
6.375%, 5/15/29 | 4,921,000 | 6,120,494 | ||||||
144A, 5.375%, 11/15/29 | 6,355,000 | 7,516,058 | ||||||
144A, 4.875%, 6/15/30 | 6,632,000 | 7,635,090 | ||||||
NortonLifeLock, Inc. | 3,200,000 | 3,288,000 | ||||||
144A, 5.00%, 4/15/25 | 6,688,000 | 6,788,320 | ||||||
Photo Holdings Merger Sub, Inc., 144A, | 4,956,000 | 5,324,925 | ||||||
Twitter, Inc., 144A, | 4,600,000 | 4,914,870 | ||||||
Uber Technologies, Inc. | 6,350,000 | 6,850,316 | ||||||
144A, 8.00%, 11/1/26 | 10,261,000 | 11,115,280 | ||||||
144A, 7.50%, 9/15/27 | 7,793,000 | 8,518,723 | ||||||
144A, 6.25%, 1/15/28 | 3,501,000 | 3,746,945 | ||||||
VeriSign, Inc. | 3,887,000 | 3,918,582 | ||||||
5.25%, 4/1/25 | 3,301,000 | 3,695,057 |
Principal | Value | |||||||
Internet (Continued) | ||||||||
4.75%, 7/15/27 | $ | 3,928,000 | $ | 4,156,315 | ||||
|
| |||||||
(Cost $146,779,715) | 148,722,310 | |||||||
|
| |||||||
Media — 9.2% | ||||||||
Altice Financing SA | 17,901,000 | 18,708,514 | ||||||
144A, 5.00%, 1/15/28 | 8,043,000 | 8,093,792 | ||||||
AMC Networks, Inc. | 2,682,000 | 2,718,877 | ||||||
4.75%, 8/1/25 (a) | 5,741,000 | 5,913,230 | ||||||
4.25%, 2/15/29 | 6,400,000 | 6,290,880 | ||||||
CCO Holdings LLC / CCO Holdings Capital Corp. | 3,238,000 | 3,272,420 | ||||||
144A, 5.75%, 2/15/26 | 15,855,000 | 16,405,961 | ||||||
144A, 5.50%, 5/1/26 | 8,933,000 | 9,253,739 | ||||||
144A, 5.125%, 5/1/27 | 21,754,000 | 22,789,164 | ||||||
144A, 5.875%, 5/1/27 | 6,235,000 | 6,459,460 | ||||||
144A, 5.00%, 2/1/28 | 16,410,000 | 17,205,885 | ||||||
144A, 5.375%, 6/1/29 | 10,416,000 | 11,237,406 | ||||||
144A, 4.75%, 3/1/30 | 20,202,000 | 21,110,080 | ||||||
144A, 4.50%, 8/15/30 | 17,918,000 | 18,570,126 | ||||||
144A, 4.25%, 2/1/31 | 19,852,000 | 20,124,965 | ||||||
144A, 4.50%, 5/1/32 | 19,158,000 | 19,708,792 | ||||||
Cengage Learning, Inc., 144A, | 4,084,000 | 4,061,027 | ||||||
Clear Channel Worldwide Holdings, Inc. | 11,990,000 | 12,507,069 | ||||||
144A, 5.125%, 8/15/27 | 8,289,000 | 8,431,985 | ||||||
CSC Holdings LLC | 4,607,000 | 4,855,133 | ||||||
5.25%, 6/1/24 | 4,607,000 | 4,966,922 | ||||||
144A, 5.50%, 5/15/26 | 9,464,000 | 9,801,155 | ||||||
144A, 5.50%, 4/15/27 | 8,648,000 | 9,099,858 | ||||||
144A, 5.375%, 2/1/28 | 6,862,000 | 7,271,661 | ||||||
144A, 7.50%, 4/1/28 (a) | 6,925,000 | 7,637,202 | ||||||
144A, 6.50%, 2/1/29 | 11,420,000 | 12,613,104 | ||||||
144A, 5.75%, 1/15/30 | 14,889,000 | 15,912,693 | ||||||
144A, 4.125%, 12/1/30 | 7,468,000 | 7,505,340 | ||||||
144A, 4.625%, 12/1/30 | 15,413,000 | 15,372,387 | ||||||
144A, 3.375%, 2/15/31 | 6,510,000 | 6,257,737 | ||||||
Diamond Sports Group LLC / Diamond Sports Finance Co. | 20,439,000 | 14,480,010 | ||||||
144A, 6.625%, 8/15/27 (a) | 11,510,000 | 5,942,037 | ||||||
DISH DBS Corp. | 13,160,000 | 13,695,612 | ||||||
5.00%, 3/15/23 | 10,106,000 | 10,421,812 | ||||||
5.875%, 11/15/24 | 12,656,000 | 13,276,714 | ||||||
7.75%, 7/1/26 (a) | 13,173,000 | 14,513,550 | ||||||
7.375%, 7/1/28 | 6,849,000 | 7,187,169 | ||||||
EW Scripps Co., 144A, | 2,430,000 | 2,471,006 | ||||||
Gray Television, Inc. | 4,867,000 | 5,046,471 | ||||||
144A, 7.00%, 5/15/27 | 4,415,000 | 4,828,906 | ||||||
144A, 4.75%, 10/15/30 | 5,397,000 | 5,378,515 |
See Notes to Financial Statements. | 38 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Media (Continued) | ||||||||
iHeartCommunications, Inc. | $ | 4,760,197 | $ | 5,045,690 | ||||
8.375%, 5/1/27 | 8,990,557 | 9,544,645 | ||||||
144A, 5.25%, 8/15/27 | 5,452,000 | 5,597,514 | ||||||
144A, 4.75%, 1/15/28 | 3,775,000 | 3,861,599 | ||||||
LCPR Senior Secured Financing DAC, 144A, | 8,145,000 | 8,755,875 | ||||||
Meredith Corp., | 8,435,000 | 8,622,384 | ||||||
Nexstar Broadcasting, Inc. | 12,010,000 | 12,704,358 | ||||||
144A, 4.75%, 11/1/28 | 6,489,000 | 6,639,058 | ||||||
Quebecor Media, Inc., | 5,489,000 | 5,866,369 | ||||||
Radiate Holdco LLC / Radiate Finance, Inc. | 6,216,000 | 6,309,240 | ||||||
144A, 6.50%, 9/15/28 | 6,296,000 | 6,622,605 | ||||||
Scripps Escrow II, Inc. | 3,829,000 | 3,761,705 | ||||||
144A, 5.375%, 1/15/31 (a) | 3,241,000 | 3,299,743 | ||||||
Sinclair Television Group, Inc. | 2,698,000 | 2,683,363 | ||||||
144A, 5.50%, 3/1/30 (a) | 2,981,000 | 2,997,843 | ||||||
144A, 4.125%, 12/1/30 | 5,100,000 | 4,988,438 | ||||||
Sirius XM Radio, Inc. | 6,554,000 | 6,594,963 | ||||||
144A, 4.625%, 7/15/24 | 10,041,000 | 10,342,230 | ||||||
144A, 5.375%, 7/15/26 | 7,260,000 | 7,516,278 | ||||||
144A, 5.00%, 8/1/27 | 10,313,000 | 10,753,726 | ||||||
144A, 5.50%, 7/1/29 | 7,879,000 | 8,543,791 | ||||||
144A, 4.125%, 7/1/30 | 10,089,000 | 10,202,501 | ||||||
TEGNA, Inc. | 3,346,000 | 3,555,125 | ||||||
144A, 4.625%, 3/15/28 | 6,763,000 | 6,948,813 | ||||||
5.00%, 9/15/29 | 7,133,000 | 7,442,858 | ||||||
Telenet Finance Luxembourg Notes SARL, 144A, | 6,600,000 | 7,005,900 | ||||||
Univision Communications, Inc. | 9,670,000 | 9,697,318 | ||||||
144A, 6.625%, 6/1/27 | 10,008,000 | 10,452,105 | ||||||
UPC Holding BV, 144A, | 3,522,000 | 3,629,861 | ||||||
Videotron Ltd. | 5,239,000 | 5,458,383 | ||||||
144A, 5.375%, 6/15/24 | 3,854,000 | 4,212,865 | ||||||
144A, 5.125%, 4/15/27 | 3,900,000 | 4,080,375 | ||||||
Virgin Media Finance PLC, 144A, | 6,061,000 | 6,174,644 | ||||||
Virgin Media Secured Finance PLC | 5,079,000 | 5,297,397 | ||||||
144A, 5.50%, 5/15/29 | 9,438,000 | 10,130,844 | ||||||
144A, 4.50%, 8/15/30 | 5,871,000 | 6,008,969 | ||||||
Ziggo Bond Co. BV | 4,140,000 | 4,323,713 | ||||||
144A, 5.125%, 2/28/30 | 3,371,000 | 3,518,886 |
Principal | Value | |||||||
Media (Continued) | ||||||||
Ziggo BV | $ | 12,122,000 | $ | 12,617,244 | ||||
144A, 4.875%, 1/15/30 | 6,438,000 | 6,731,734 | ||||||
|
| |||||||
(Cost $709,086,759) | 699,939,318 | |||||||
|
| |||||||
Telecommunications — 7.3% | ||||||||
Altice France Holding SA | 10,611,000 | 11,949,843 | ||||||
144A, 6.00%, 2/15/28 | 8,074,000 | 7,917,405 | ||||||
Altice France SA | 34,433,000 | 35,963,547 | ||||||
144A, 8.125%, 2/1/27 | 11,664,000 | 12,727,232 | ||||||
144A, 5.50%, 1/15/28 | 7,139,000 | 7,291,489 | ||||||
144A, 5.125%, 1/15/29 (a) | 3,104,000 | 3,126,939 | ||||||
Avaya, Inc., 144A, | 6,514,000 | 7,022,906 | ||||||
C&W Senior Financing DAC | 3,398,000 | 3,602,611 | ||||||
144A, 6.875%, 9/15/27 | 7,852,000 | 8,426,177 | ||||||
Cincinnati Bell, Inc., 144A, | 3,843,000 | 4,001,332 | ||||||
CommScope Technologies LLC | 8,516,000 | 8,685,383 | ||||||
144A, 5.00%, 3/15/27 | 4,663,000 | 4,576,525 | ||||||
CommScope, Inc. | 8,272,000 | 8,500,431 | ||||||
144A, 6.00%, 3/1/26 | 9,359,000 | 9,850,956 | ||||||
144A, 8.25%, 3/1/27 | 6,883,000 | 7,270,203 | ||||||
144A, 7.125%, 7/1/28 | 5,098,000 | 5,353,257 | ||||||
Connect Finco SARL / Connect US Finco LLC, 144A, | 13,698,000 | 14,220,236 | ||||||
DKT Finance ApS, 144A, | 2,758,000 | 2,866,941 | ||||||
Frontier Communications Corp. | 7,782,000 | 8,341,331 | ||||||
144A, 5.00%, 5/1/28 | 10,189,000 | 10,539,247 | ||||||
144A, 6.75%, 5/1/29 | 6,676,000 | 6,988,938 | ||||||
Gogo Intermediate Holdings LLC / Gogo Finance Co., Inc., 144A, | 6,302,000 | 6,660,741 | ||||||
GTT Communications, Inc., 144A, | 3,680,000 | 713,000 | ||||||
Hughes Satellite Systems Corp. | 4,688,000 | 5,218,330 | ||||||
6.625%, 8/1/26 | 4,905,000 | 5,488,205 | ||||||
Level 3 Financing, Inc. | 5,236,000 | 5,381,954 | ||||||
5.25%, 3/15/26 | 5,324,000 | 5,483,720 | ||||||
144A, 4.625%, 9/15/27 | 6,259,000 | 6,487,422 | ||||||
144A, 4.25%, 7/1/28 | 8,124,000 | 8,294,604 | ||||||
144A, 3.625%, 1/15/29 | 5,203,000 | 5,134,711 | ||||||
144A, 3.75%, 7/15/29 | 5,800,000 | 5,792,750 | ||||||
Lumen Technologies, Inc. | 10,031,000 | 10,434,748 | ||||||
Series W, 6.75%, 12/1/23 | 5,087,000 | 5,650,309 | ||||||
Series Y, 7.50%, 4/1/24 | 6,806,000 | 7,648,242 | ||||||
5.625%, 4/1/25 | 3,697,000 | 3,967,158 |
See Notes to Financial Statements. | 39 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Telecommunications (Continued) | ||||||||
144A, 5.125%, 12/15/26 | $ | 8,015,000 | $ | 8,371,507 | ||||
144A, 4.00%, 2/15/27 | 7,796,000 | 7,985,911 | ||||||
144A, 4.50%, 1/15/29 | 7,204,000 | 7,208,502 | ||||||
Nokia OYJ | 3,814,000 | 3,928,039 | ||||||
4.375%, 6/12/27 | 3,095,000 | 3,356,141 | ||||||
Sprint Communications, Inc., | 14,440,000 | 15,452,388 | ||||||
Sprint Corp. | 28,445,000 | 32,605,081 | ||||||
7.125%, 6/15/24 | 16,503,000 | 19,023,173 | ||||||
7.625%, 2/15/25 | 9,578,000 | 11,409,793 | ||||||
7.625%, 3/1/26 | 10,035,000 | 12,327,847 | ||||||
Telecom Italia SpA, 144A, | 9,849,000 | 10,678,237 | ||||||
T-Mobile USA, Inc. | 4,631,000 | 4,806,052 | ||||||
6.00%, 3/1/23 | 5,811,000 | 5,848,481 | ||||||
6.00%, 4/15/24 | 8,811,000 | 8,877,083 | ||||||
5.125%, 4/15/25 | 4,083,000 | 4,172,724 | ||||||
6.50%, 1/15/26 | 11,370,000 | 11,739,525 | ||||||
4.50%, 2/1/26 | 6,755,000 | 6,912,020 | ||||||
2.25%, 2/15/26 | 6,600,000 | 6,582,840 | ||||||
5.375%, 4/15/27 | 3,921,000 | 4,158,711 | ||||||
4.75%, 2/1/28 | 9,640,000 | 10,207,068 | ||||||
2.625%, 2/15/29 | 6,350,000 | 6,223,000 | ||||||
2.875%, 2/15/31 (a) | 6,630,000 | 6,513,975 | ||||||
VEON Holdings BV | 2,885,000 | 3,083,531 | ||||||
144A, 5.95%, 2/13/23 | 3,473,000 | 3,765,895 | ||||||
144A, 7.25%, 4/26/23 (a) | 4,573,000 | 5,031,443 | ||||||
144A, 4.95%, 6/16/24 | 3,371,000 | 3,646,579 | ||||||
144A, 4.00%, 4/9/25 | 6,916,000 | 7,316,194 | ||||||
144A, 3.375%, 11/25/27 | 8,014,000 | 8,176,684 | ||||||
ViaSat, Inc. | 5,103,000 | 5,211,439 | ||||||
144A, 5.625%, 4/15/27 | 3,326,000 | 3,490,221 | ||||||
144A, 6.50%, 7/15/28 (a) | 2,855,000 | 3,053,265 | ||||||
Vmed O2 UK Financing I PLC, 144A, | 9,124,000 | 8,941,520 | ||||||
Windstream Escrow LLC / Windstream Escrow Finance Corp., 144A, | 9,168,000 | 9,402,930 | ||||||
Zayo Group Holdings, Inc. | 9,526,000 | 9,497,755 | ||||||
144A, 6.125%, 3/1/28 (a) | 7,342,000 | 7,582,964 | ||||||
|
| |||||||
(Cost $557,793,297) | 558,167,341 | |||||||
|
| |||||||
Consumer, Cyclical — 20.6% | ||||||||
Airlines — 0.9% | ||||||||
American Airlines Group, Inc. | 5,155,000 | 4,974,575 | ||||||
144A, 3.75%, 3/1/25 (a) | 3,239,000 | 2,759,045 | ||||||
American Airlines, Inc., 144A, | 16,503,000 | 19,659,199 | ||||||
Delta Air Lines, Inc. | 6,257,000 | 6,354,522 |
Principal | Value | |||||||
Airlines (Continued) | ||||||||
3.80%, 4/19/23 | $ | 3,438,000 | $ | 3,524,916 | ||||
2.90%, 10/28/24 | 5,904,000 | 5,890,978 | ||||||
7.375%, 1/15/26 | 8,313,000 | 9,700,101 | ||||||
4.375%, 4/19/28 | 3,410,000 | 3,530,831 | ||||||
3.75%, 10/28/29 | 3,961,000 | 3,936,745 | ||||||
Hawaiian Brand Intellectual Property Ltd. / HawaiianMiles Loyalty Ltd., 144A, | 7,900,000 | 8,339,477 | ||||||
United Airlines Holdings, Inc., | 2,842,000 | 2,881,077 | ||||||
|
| |||||||
(Cost $64,805,328) | 71,551,466 | |||||||
|
| |||||||
Apparel — 0.5% | ||||||||
Hanesbrands, Inc. | 5,704,000 | 5,985,635 | ||||||
144A, 5.375%, 5/15/25 | 5,347,000 | 5,667,820 | ||||||
144A, 4.875%, 5/15/26 | 5,727,000 | 6,176,398 | ||||||
Levi Strauss & Co. | 6,435,000 | 6,591,853 | ||||||
144A, 3.50%, 3/1/31 | 3,200,000 | 3,232,480 | ||||||
Michael Kors USA, Inc., 144A, | 2,910,000 | 3,069,686 | ||||||
Under Armour, Inc., | 3,968,000 | 4,055,633 | ||||||
William Carter Co. | 3,306,000 | 3,494,029 | ||||||
144A, 5.625%, 3/15/27 | 3,428,000 | 3,616,540 | ||||||
|
| |||||||
(Cost $41,214,705) | 41,890,074 | |||||||
|
| |||||||
Auto Manufacturers — 4.2% | ||||||||
Allison Transmission, Inc. | 2,817,000 | 2,915,595 | ||||||
144A, 5.875%, 6/1/29 | 3,130,000 | 3,384,672 | ||||||
144A, 3.75%, 1/30/31 | 6,875,000 | 6,587,109 | ||||||
Ford Motor Co. | 23,956,000 | 26,830,720 | ||||||
9.00%, 4/22/25 | 22,447,000 | 27,278,605 | ||||||
4.346%, 12/8/26 | 9,290,000 | 9,914,102 | ||||||
9.625%, 4/22/30 | 6,815,000 | 9,652,119 | ||||||
Ford Motor Credit Co. LLC | 4,932,000 | 4,998,335 | ||||||
2.979%, 8/3/22 | 6,036,000 | 6,104,569 | ||||||
4.25%, 9/20/22 | 6,142,000 | 6,336,333 | ||||||
MTN, 3.55%, 10/7/22 | 4,125,000 | 4,228,661 | ||||||
3.35%, 11/1/22 | 9,045,000 | 9,181,670 | ||||||
3.087%, 1/9/23 | 10,291,000 | 10,461,573 | ||||||
4.14%, 2/15/23 | 6,262,000 | 6,457,688 | ||||||
3.096%, 5/4/23 | 6,561,000 | 6,661,252 | ||||||
4.375%, 8/6/23 | 5,729,000 | 6,007,659 | ||||||
3.37%, 11/17/23 | 6,536,000 | 6,722,603 | ||||||
3.81%, 1/9/24 | 4,961,000 | 5,116,031 | ||||||
5.584%, 3/18/24 | 10,522,000 | 11,364,812 | ||||||
3.664%, 9/8/24 | 4,383,000 | 4,520,648 | ||||||
4.063%, 11/1/24 | 9,883,000 | 10,401,858 | ||||||
4.687%, 6/9/25 | 5,414,000 | 5,776,061 | ||||||
5.125%, 6/16/25 | 11,995,000 | 12,974,991 | ||||||
4.134%, 8/4/25 | 8,819,000 | 9,298,533 |
See Notes to Financial Statements. | 40 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Auto Manufacturers (Continued) | ||||||||
3.375%, 11/13/25 | $ | 12,212,000 | $ | 12,427,053 | ||||
GMTN, 4.389%, 1/8/26 | 8,859,000 | 9,366,975 | ||||||
4.542%, 8/1/26 | 4,974,000 | 5,315,963 | ||||||
4.271%, 1/9/27 | 6,055,000 | 6,414,516 | ||||||
4.125%, 8/17/27 | 9,093,000 | 9,581,749 | ||||||
3.815%, 11/2/27 | 4,697,000 | 4,858,459 | ||||||
2.90%, 2/16/28 | 4,000,000 | 3,965,000 | ||||||
5.113%, 5/3/29 | 9,812,000 | 10,756,405 | ||||||
4.00%, 11/13/30 | 10,978,000 | 11,238,728 | ||||||
Jaguar Land Rover Automotive PLC | 3,393,000 | 3,376,035 | ||||||
144A, 7.75%, 10/15/25 | 4,853,000 | 5,250,339 | ||||||
144A, 4.50%, 10/1/27 | 3,124,000 | 3,015,925 | ||||||
144A, 5.875%, 1/15/28 | 4,278,000 | 4,372,116 | ||||||
Navistar International Corp. | 4,485,000 | 5,026,003 | ||||||
144A, 6.625%, 11/1/25 | 3,868,000 | 4,017,885 | ||||||
Tesla, Inc., 144A, | 12,143,000 | 12,652,399 | ||||||
|
| |||||||
(Cost $314,768,785) | 324,811,749 | |||||||
|
| |||||||
Auto Parts & Equipment — 1.4% | ||||||||
Adient Global Holdings Ltd., 144A, | 5,544,000 | 5,606,370 | ||||||
Adient US LLC | 3,516,000 | 3,898,365 | ||||||
144A, 7.00%, 5/15/26 | 5,052,000 | 5,446,056 | ||||||
American Axle & Manufacturing, Inc. | 4,482,000 | 4,622,511 | ||||||
6.25%, 3/15/26 | 3,304,000 | 3,378,307 | ||||||
6.50%, 4/1/27 (a) | 3,280,000 | 3,428,879 | ||||||
6.875%, 7/1/28 (a) | 2,371,000 | 2,513,260 | ||||||
Clarios Global LP, 144A, | 3,584,000 | 3,853,087 | ||||||
Clarios Global LP / Clarios US Finance Co. | 6,164,000 | 6,567,249 | ||||||
144A, 8.50%, 5/15/27 | 13,122,000 | 14,180,289 | ||||||
Dana, Inc. | 2,710,000 | 2,762,506 | ||||||
5.375%, 11/15/27 | 2,814,000 | 2,945,906 | ||||||
5.625%, 6/15/28 | 2,397,000 | 2,547,735 | ||||||
Goodyear Tire & Rubber Co. | 6,067,000 | 6,112,503 | ||||||
9.50%, 5/31/25 | 6,045,000 | 6,800,021 | ||||||
5.00%, 5/31/26 | 6,027,000 | 6,167,489 | ||||||
4.875%, 3/15/27 | 4,302,000 | 4,503,656 | ||||||
Tenneco, Inc. | 3,235,000 | 3,045,995 | ||||||
144A, 7.875%, 1/15/29 | 3,239,000 | 3,636,685 | ||||||
ZF North America Capital, Inc. | 5,118,000 | 5,258,745 | ||||||
144A, 4.75%, 4/29/25 | 6,515,000 | 7,044,344 | ||||||
|
| |||||||
(Cost $102,528,001) | 104,319,958 | |||||||
|
|
Principal | Value | |||||||
Distribution/Wholesale — 0.7% | ||||||||
American Builders & Contractors Supply Co., Inc. | $ | 3,978,000 | $ | 4,118,841 | ||||
144A, 4.00%, 1/15/28 | 4,706,000 | 4,761,013 | ||||||
Avient Corp. | 3,387,000 | 3,651,575 | ||||||
144A, 5.75%, 5/15/25 | 4,317,000 | 4,582,280 | ||||||
Core & Main LP, 144A, | 4,294,000 | 4,399,096 | ||||||
H&E Equipment Services, Inc., 144A, | 8,381,000 | 8,072,998 | ||||||
Performance Food Group, Inc., 144A, | 6,954,000 | 7,323,466 | ||||||
Wolverine Escrow LLC | 4,383,000 | 4,292,601 | ||||||
144A, 9.00%, 11/15/26 | 5,949,000 | 5,863,483 | ||||||
144A, 13.125%, 11/15/27 | 3,468,000 | 2,886,070 | ||||||
|
| |||||||
(Cost $49,667,952) | 49,951,423 | |||||||
|
| |||||||
Entertainment — 3.0% | ||||||||
AMC Entertainment Holdings, Inc., 144A, | 3,074,000 | 3,240,227 | ||||||
Banijay Entertainment SASU, 144A, | 2,716,000 | 2,778,807 | ||||||
Caesars Entertainment, Inc. | 22,236,000 | 23,570,160 | ||||||
144A, 8.125%, 7/1/27 | 11,940,000 | 13,037,704 | ||||||
Caesars Resort Collection LLC / CRC Finco, Inc. | 7,249,000 | 7,620,511 | ||||||
144A, 5.25%, 10/15/25 | 10,910,000 | 10,844,485 | ||||||
Cedar Fair LP, | 3,478,000 | 3,492,573 | ||||||
Cedar Fair LP / Canada’s Wonderland Co. / Magnum Management Corp. / Millennium Op | 6,581,000 | 6,905,937 | ||||||
5.375%, 4/15/27 | 3,048,000 | 3,121,152 | ||||||
Churchill Downs, Inc. | 4,187,000 | 4,372,128 | ||||||
144A, 4.75%, 1/15/28 | 3,225,000 | 3,355,242 | ||||||
Cinemark USA, Inc. | 2,876,000 | 2,856,227 | ||||||
4.875%, 6/1/23 | 4,903,000 | 4,861,741 | ||||||
Cirsa Finance International SARL, 144A, | 3,249,000 | 3,287,582 | ||||||
International Game Technology PLC | 7,256,000 | 8,036,020 | ||||||
144A, 6.25%, 1/15/27 | 4,976,000 | 5,644,650 | ||||||
144A, 5.25%, 1/15/29 | 5,048,000 | 5,352,672 | ||||||
Lions Gate Capital Holdings LLC | 3,634,000 | 3,718,345 | ||||||
144A, 5.875%, 11/1/24 | 3,646,000 | 3,723,824 | ||||||
Live Nation Entertainment, Inc. | 4,064,000 | 4,116,344 | ||||||
144A, 6.50%, 5/15/27 | 7,886,000 | 8,714,661 | ||||||
144A, 4.75%, 10/15/27 | 6,211,000 | 6,284,072 | ||||||
144A, 3.75%, 1/15/28 | 3,450,000 | 3,464,059 |
See Notes to Financial Statements. | 41 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Entertainment (Continued) | ||||||||
Mohegan Gaming & Entertainment | $ | 3,406,000 | $ | 3,565,656 | ||||
144A, 8.00%, 2/1/26 | 7,800,000 | 7,703,514 | ||||||
Scientific Games International, Inc. | 3,984,000 | 4,295,270 | ||||||
144A, 5.00%, 10/15/25 | 7,824,000 | 8,046,051 | ||||||
144A, 8.25%, 3/15/26 | 7,662,000 | 8,135,014 | ||||||
144A, 7.00%, 5/15/28 | 4,612,000 | 4,895,131 | ||||||
144A, 7.25%, 11/15/29 | 3,301,000 | 3,595,416 | ||||||
Six Flags Entertainment Corp. | 6,259,000 | 6,274,335 | ||||||
144A, 5.50%, 4/15/27 (a) | 3,249,000 | 3,321,737 | ||||||
Six Flags Theme Parks, Inc., 144A, | 4,487,000 | 4,845,534 | ||||||
Stars Group Holdings BV / Stars Group US Co.-Borrower LLC, 144A, | 6,552,000 | 6,895,980 | ||||||
Vail Resorts, Inc., 144A, | 4,021,000 | 4,299,052 | ||||||
WMG Acquisition Corp. | 3,484,000 | 3,584,287 | ||||||
144A, 3.00%, 2/15/31 | 5,142,000 | 4,955,603 | ||||||
Wynn Resorts Finance LLC / Wynn Resorts Capital Corp. | 4,375,000 | 4,753,066 | ||||||
144A, 5.125%, 10/1/29 | 4,924,000 | 5,188,665 | ||||||
|
| |||||||
(Cost $223,576,418) | 226,753,434 | |||||||
|
| |||||||
Food Service — 0.3% | ||||||||
Aramark Services, Inc. | 3,811,000 | 3,902,464 | ||||||
144A, 6.375%, 5/1/25 | 10,306,000 | 10,898,595 | ||||||
4.75%, 6/1/26 | 3,407,000 | 3,463,215 | ||||||
144A, 5.00%, 2/1/28 (a) | 7,415,000 | 7,609,644 | ||||||
|
| |||||||
(Cost $25,907,598) | 25,873,918 | |||||||
|
| |||||||
Home Builders — 0.6% | ||||||||
Brookfield Residential Properties, Inc. / Brookfield Residential US Corp. | 4,026,000 | 4,249,946 | ||||||
144A, 4.875%, 2/15/30 | 3,367,000 | 3,410,367 | ||||||
Mattamy Group Corp. | 3,569,000 | 3,758,603 | ||||||
144A, 4.625%, 3/1/30 | 3,819,000 | 3,973,555 | ||||||
Meritage Homes Corp., | 2,606,000 | 2,933,379 | ||||||
Taylor Morrison Communities, Inc. | 3,535,000 | 3,949,585 | ||||||
144A, 5.75%, 1/15/28 | 2,938,000 | 3,285,051 | ||||||
144A, 5.125%, 8/1/30 | 3,084,000 | 3,316,611 | ||||||
Toll Brothers Finance Corp. | 2,469,000 | 2,618,374 | ||||||
4.875%, 3/15/27 | 3,209,000 | 3,677,707 | ||||||
4.35%, 2/15/28 | 2,639,000 | 2,938,685 | ||||||
3.80%, 11/1/29 | 2,525,000 | 2,752,250 | ||||||
Williams Scotsman International, Inc., 144A, | 3,269,000 | 3,365,027 | ||||||
|
| |||||||
(Cost $43,531,431) | 44,229,140 | |||||||
|
|
Principal | Value | |||||||
Housewares — 0.4% | ||||||||
Newell Brands, Inc. | $ | 7,004,000 | $ | 7,371,710 | ||||
4.875%, 6/1/25 | 3,778,000 | 4,159,389 | ||||||
4.70%, 4/1/26 | 12,730,000 | 14,130,300 | ||||||
Scotts Miracle-Gro Co., | 2,568,000 | 2,731,081 | ||||||
|
| |||||||
(Cost $27,733,200) | 28,392,480 | |||||||
|
| |||||||
Leisure Time — 2.1% | ||||||||
Carnival Corp. | 25,065,000 | 28,610,570 | ||||||
144A, 10.50%, 2/1/26 (a) | 5,952,000 | 6,926,640 | ||||||
144A, 7.625%, 3/1/26 (a) | 9,647,000 | 10,153,467 | ||||||
144A, 5.75%, 3/1/27 | 22,500,000 | 22,865,625 | ||||||
144A, 9.875%, 8/1/27 | 6,708,000 | 7,723,122 | ||||||
Life Time, Inc. | 6,085,000 | 6,199,094 | ||||||
144A, 8.00%, 4/15/26 | 3,100,000 | 3,146,500 | ||||||
NCL Corp. Ltd. | 4,418,000 | 5,257,420 | ||||||
144A, 3.625%, 12/15/24 | 3,819,000 | 3,576,780 | ||||||
144A, 10.25%, 2/1/26 | 4,865,000 | 5,667,725 | ||||||
144A, 5.875%, 3/15/26 | 5,603,000 | 5,643,342 | ||||||
Royal Caribbean Cruises Ltd. | 4,335,000 | 4,425,081 | ||||||
144A, 10.875%, 6/1/23 | 6,895,000 | 7,823,756 | ||||||
144A, 9.125%, 6/15/23 | 6,724,000 | 7,387,995 | ||||||
144A, 11.50%, 6/1/25 | 14,844,000 | 17,386,035 | ||||||
3.70%, 3/15/28 (a) | 3,296,000 | 3,129,140 | ||||||
Viking Cruises Ltd. | 4,712,000 | 5,556,084 | ||||||
144A, 5.875%, 9/15/27 | 5,443,000 | 5,250,182 | ||||||
|
| |||||||
(Cost $151,118,162) | 156,728,558 | |||||||
|
| |||||||
Lodging — 2.4% | ||||||||
Boyd Gaming Corp. | 4,022,000 | 4,429,227 | ||||||
6.375%, 4/1/26 | 4,475,000 | 4,629,477 | ||||||
6.00%, 8/15/26 | 4,551,000 | 4,724,530 | ||||||
4.75%, 12/1/27 | 6,600,000 | 6,725,565 | ||||||
Diamond Resorts International, Inc. | 3,433,000 | 3,529,519 | ||||||
144A, 10.75%, 9/1/24 | 3,594,000 | 3,696,788 | ||||||
Hilton Domestic Operating Co., Inc. | 4,087,000 | 4,302,589 | ||||||
144A, 5.75%, 5/1/28 | 3,284,000 | 3,563,156 | ||||||
144A, 3.75%, 5/1/29 | 5,165,000 | 5,264,039 | ||||||
4.875%, 1/15/30 | 6,654,000 | 7,169,585 | ||||||
144A, 4.00%, 5/1/31 | 7,335,000 | 7,449,609 | ||||||
144A, 3.625%, 2/15/32 | 10,000,000 | 9,878,300 | ||||||
Hilton Worldwide Finance LLC / Hilton Worldwide Finance Corp., | 3,103,000 | 3,232,938 | ||||||
Marriott Ownership Resorts, Inc., 144A, | 3,244,000 | 3,454,860 | ||||||
Melco Resorts Finance Ltd. | 6,500,000 | 6,685,250 | ||||||
144A, 5.25%, 4/26/26 | 3,256,000 | 3,422,870 |
See Notes to Financial Statements. | 42 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Lodging (Continued) | ||||||||
144A, 5.625%, 7/17/27 | $ | 3,877,000 | $ | 4,085,389 | ||||
144A, 5.75%, 7/21/28 | 5,411,000 | 5,802,621 | ||||||
144A, 5.375%, 12/4/29 (a) | 7,660,000 | 8,119,830 | ||||||
MGM Resorts International | 6,371,000 | 6,741,314 | ||||||
6.00%, 3/15/23 | 8,131,000 | 8,679,843 | ||||||
6.75%, 5/1/25 | 5,099,000 | 5,467,173 | ||||||
5.75%, 6/15/25 | 4,817,000 | 5,313,277 | ||||||
4.625%, 9/1/26 | 2,650,000 | 2,784,156 | ||||||
5.50%, 4/15/27 | 4,739,000 | 5,147,052 | ||||||
4.75%, 10/15/28 | 4,924,000 | 5,134,156 | ||||||
Station Casinos LLC, 144A, | 4,316,000 | 4,307,908 | ||||||
Travel + Leisure Co. | 4,143,000 | 4,203,074 | ||||||
3.90%, 3/1/23 | 2,154,000 | 2,201,119 | ||||||
144A, 6.625%, 7/31/26 | 4,547,000 | 5,138,337 | ||||||
6.00%, 4/1/27 | 2,532,000 | 2,824,763 | ||||||
Wyndham Hotels & Resorts, Inc. | 3,204,000 | 3,282,098 | ||||||
144A, 4.375%, 8/15/28 | 3,460,000 | 3,540,393 | ||||||
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp. | 3,109,000 | 3,145,919 | ||||||
144A, 5.50%, 3/1/25 | 11,730,000 | 12,448,463 | ||||||
144A, 5.25%, 5/15/27 | 5,941,000 | 6,320,333 | ||||||
|
| |||||||
(Cost $184,006,917) | 186,845,520 | |||||||
|
| |||||||
Retail — 3.9% | ||||||||
1011778 BC ULC / New Red Finance, Inc. | 4,721,000 | 4,772,931 | ||||||
144A, 5.75%, 4/15/25 | 3,721,000 | 3,973,358 | ||||||
144A, 3.875%, 1/15/28 | 4,568,000 | 4,643,829 | ||||||
144A, 4.375%, 1/15/28 | 4,885,000 | 4,966,531 | ||||||
144A, 3.50%, 2/15/29 | 5,217,000 | 5,122,442 | ||||||
144A, 4.00%, 10/15/30 | 19,134,000 | 18,685,308 | ||||||
Beacon Roofing Supply, Inc., 144A, | 8,440,000 | 8,514,441 | ||||||
Carvana Co. | 3,556,000 | 3,711,575 | ||||||
144A, 5.875%, 10/1/28 | 3,733,000 | 3,918,717 | ||||||
eG Global Finance PLC | 5,109,000 | 5,256,395 | ||||||
144A, 8.50%, 10/30/25 | 4,119,000 | 4,372,524 | ||||||
Ferrellgas LP / Ferrellgas Finance Corp. | 3,172,000 | 3,177,947 | ||||||
144A, 10.00%, 4/15/25 | 4,535,000 | 5,039,519 | ||||||
Gap, Inc. | 3,709,000 | 4,247,213 | ||||||
144A, 8.625%, 5/15/25 (a) | 4,958,000 | 5,535,409 | ||||||
144A, 8.875%, 5/15/27 (a) | 6,475,000 | 7,591,484 | ||||||
Golden Nugget, Inc. | 8,636,000 | 8,792,571 | ||||||
144A, 8.75%, 10/1/25 (a) | 4,074,000 | 4,341,865 | ||||||
Group 1 Automotive, Inc., 144A, | 3,770,000 | 3,812,412 |
Principal | Value | |||||||
Retail (Continued) | ||||||||
IRB Holding Corp. | $ | 4,889,000 | $ | 5,313,243 | ||||
144A, 6.75%, 2/15/26 | 3,189,000 | 3,288,656 | ||||||
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC | 6,478,000 | 6,708,779 | ||||||
144A, 4.75%, 6/1/27 | 4,971,000 | 5,213,336 | ||||||
L Brands, Inc. | 5,168,000 | 5,653,844 | ||||||
144A, 9.375%, 7/1/25 | 3,437,000 | 4,257,584 | ||||||
5.25%, 2/1/28 | 3,261,000 | 3,495,384 | ||||||
7.50%, 6/15/29 | 3,495,000 | 3,955,257 | ||||||
144A, 6.625%, 10/1/30 | 6,431,000 | 7,230,856 | ||||||
Lithia Motors, Inc. | 3,009,000 | 3,165,092 | ||||||
144A, 4.375%, 1/15/31 | 3,300,000 | 3,471,187 | ||||||
Macy’s Retail Holdings LLC | 4,128,000 | 4,108,268 | ||||||
3.625%, 6/1/24 (a) | 3,301,000 | 3,280,369 | ||||||
Macy’s, Inc., 144A, | 8,876,000 | 9,820,761 | ||||||
Michaels Stores, Inc., 144A, | 3,416,000 | 3,652,353 | ||||||
Murphy Oil USA, Inc. | 3,628,000 | 3,899,429 | ||||||
144A, 3.75%, 2/15/31 | 3,000,000 | 3,001,875 | ||||||
Nordstrom, Inc., | 3,301,000 | 3,213,941 | ||||||
Party City Holdings, Inc., 144A, | 4,900,000 | 5,007,187 | ||||||
Penske Automotive Group, Inc. | 3,636,000 | 3,704,175 | ||||||
5.50%, 5/15/26 | 3,584,000 | 3,698,240 | ||||||
PetSmart, Inc. / PetSmart Finance Corp. | 8,000,000 | 8,297,600 | ||||||
144A, 7.75%, 2/15/29 | 7,500,000 | 8,054,250 | ||||||
QVC, Inc. | 5,332,000 | 5,597,534 | ||||||
4.85%, 4/1/24 | 3,798,000 | 4,087,597 | ||||||
4.45%, 2/15/25 | 3,542,000 | 3,772,230 | ||||||
4.75%, 2/15/27 | 3,935,000 | 4,156,363 | ||||||
4.375%, 9/1/28 | 3,334,000 | 3,431,936 | ||||||
Rite Aid Corp. | 4,143,000 | 4,347,312 | ||||||
144A, 8.00%, 11/15/26 | 5,611,000 | 5,916,098 | ||||||
Sally Holdings LLC / Sally Capital, Inc., | 4,479,000 | 4,586,496 | ||||||
Staples, Inc. | 13,311,000 | 13,360,251 | ||||||
144A, 10.75%, 4/15/27 | 6,606,000 | 6,316,987 | ||||||
Suburban Propane Partners LP/Suburban Energy Finance Corp., | 4,047,000 | 4,120,311 | ||||||
Yum! Brands, Inc. | 4,367,000 | 4,781,865 | ||||||
144A, 4.75%, 1/15/30 | 5,684,000 | 5,939,212 |
See Notes to Financial Statements. | 43 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Retail (Continued) | ||||||||
3.625%, 3/15/31 | $ | 6,745,000 | $ | 6,492,063 | ||||
|
| |||||||
(Cost $293,092,257) | 298,874,392 | |||||||
|
| |||||||
Toys/Games/Hobbies — 0.2% | ||||||||
Mattel, Inc. | 9,648,000 | 10,144,872 | ||||||
144A, 5.875%, 12/15/27 | 4,186,000 | 4,564,833 | ||||||
|
| |||||||
(Cost $14,663,166) | 14,709,705 | |||||||
|
| |||||||
Consumer, Non-cyclical — 17.7% | ||||||||
Agriculture — 0.3% | ||||||||
Darling Ingredients, Inc., 144A, | 3,126,000 | 3,295,976 | ||||||
JBS Investments II GmbH | 6,481,000 | 6,881,267 | ||||||
144A, 5.75%, 1/15/28 | 4,036,000 | 4,247,930 | ||||||
Vector Group Ltd. | 3,835,000 | 4,148,991 | ||||||
144A, 5.75%, 2/1/29 | 5,800,000 | 6,021,125 | ||||||
|
| |||||||
(Cost $24,504,567) | 24,595,289 | |||||||
|
| |||||||
Commercial Services — 3.2% | ||||||||
ADT Security Corp. | 6,661,000 | 6,723,447 | ||||||
4.125%, 6/15/23 | 4,544,000 | 4,743,145 | ||||||
Allied Universal Holdco LLC / Allied Universal Finance Corp. | 13,185,000 | 13,976,100 | ||||||
144A, 9.75%, 7/15/27 | 6,921,000 | 7,649,643 | ||||||
APX Group, Inc. | 4,620,000 | 4,640,212 | ||||||
7.625%, 9/1/23 (a) | 2,573,000 | 2,679,972 | ||||||
144A, 6.75%, 2/15/27 | 3,948,000 | 4,209,555 | ||||||
ASGN, Inc., 144A, | 3,743,000 | 3,908,403 | ||||||
Avis Budget Car Rental LLC / Avis Budget Finance, Inc. | 3,500,000 | 4,183,550 | ||||||
144A, 5.75%, 7/15/27 (a) | 2,483,000 | 2,571,457 | ||||||
Brink’s Co. | 2,603,000 | 2,744,538 | ||||||
144A, 4.625%, 10/15/27 | 3,961,000 | 4,089,396 | ||||||
Garda World Security Corp. | 3,774,000 | 3,755,130 | ||||||
144A, 9.50%, 11/1/27 (a) | 4,023,000 | 4,351,639 | ||||||
Gartner, Inc. | 5,052,000 | 5,310,915 | ||||||
144A, 3.75%, 10/1/30 | 5,510,000 | 5,585,762 | ||||||
Herc Holdings, Inc., 144A, | 7,567,000 | 7,978,456 | ||||||
Jaguar Holding Co. II / PPD Development LP | 3,283,000 | 3,427,879 | ||||||
144A, 5.00%, 6/15/28 | 4,592,000 | 4,850,300 | ||||||
Modulaire Global Finance PLC, 144A, | 3,339,000 | 3,399,486 | ||||||
MPH Acquisition Holdings LLC, 144A, | 8,580,000 | 8,526,375 |
Principal | Value | |||||||
Commercial Services (Continued) | ||||||||
Nielsen Co. Luxembourg SARL, 144A, | $ | 3,225,000 | $ | 3,311,269 | ||||
Nielsen Finance LLC / Nielsen Finance Co. | 4,263,000 | 4,276,130 | ||||||
144A, 5.625%, 10/1/28 | 6,666,000 | 7,061,794 | ||||||
144A, 5.875%, 10/1/30 | 5,071,000 | 5,492,527 | ||||||
Prime Security Services Borrower LLC / Prime Finance, Inc. | 4,877,000 | 5,206,197 | ||||||
144A, 5.75%, 4/15/26 | 8,897,000 | 9,597,639 | ||||||
144A, 3.375%, 8/31/27 | 6,690,000 | 6,530,310 | ||||||
144A, 6.25%, 1/15/28 | 8,563,000 | 8,882,742 | ||||||
Sabre GLBL, Inc. | 4,702,000 | 5,583,625 | ||||||
144A, 7.375%, 9/1/25 | 6,364,000 | 6,850,846 | ||||||
Service Corp. International | 3,904,000 | 4,127,992 | ||||||
5.125%, 6/1/29 | 4,815,000 | 5,211,371 | ||||||
3.375%, 8/15/30 | 5,487,000 | 5,390,977 | ||||||
Team Health Holdings, Inc., 144A, | 4,780,000 | 4,328,888 | ||||||
United Rentals North America, Inc. | 6,757,000 | 7,094,850 | ||||||
5.50%, 5/15/27 | 6,616,000 | 7,008,825 | ||||||
3.875%, 11/15/27 | 4,930,000 | 5,145,688 | ||||||
4.875%, 1/15/28 | 10,947,000 | 11,622,649 | ||||||
5.25%, 1/15/30 | 4,926,000 | 5,427,836 | ||||||
4.00%, 7/15/30 | 5,005,000 | 5,197,442 | ||||||
3.875%, 2/15/31 | 7,440,000 | 7,622,280 | ||||||
Verscend Escrow Corp., 144A, | 7,489,000 | 8,059,325 | ||||||
|
| |||||||
(Cost $247,123,464) | 248,336,562 | |||||||
|
| |||||||
Cosmetics/Personal Care — 0.2% | ||||||||
Avon Products, Inc., | 3,288,000 | 3,526,380 | ||||||
Coty, Inc., 144A, | 3,642,000 | 3,596,839 | ||||||
Edgewell Personal Care Co. | 3,759,000 | 3,937,121 | ||||||
144A, 5.50%, 6/1/28 | 4,682,000 | 4,976,006 | ||||||
Revlon Consumer Products Corp., | 2,744,000 | 912,380 | ||||||
|
| |||||||
(Cost $17,091,712) | 16,948,726 | |||||||
|
| |||||||
Food — 3.2% | ||||||||
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC | 4,864,000 | 5,003,645 | ||||||
144A, 3.25%, 3/15/26 | 5,061,000 | 5,013,173 | ||||||
144A, 7.50%, 3/15/26 | 4,631,000 | 5,075,483 | ||||||
144A, 4.625%, 1/15/27 | 8,463,000 | 8,773,677 | ||||||
144A, 5.875%, 2/15/28 | 4,614,000 | 4,921,708 | ||||||
144A, 3.50%, 3/15/29 | 8,870,000 | 8,532,940 | ||||||
144A, 4.875%, 2/15/30 | 6,724,000 | 6,961,223 | ||||||
B&G Foods, Inc. | 5,713,000 | 5,863,823 |
See Notes to Financial Statements. | 44 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Food (Continued) | ||||||||
5.25%, 9/15/27 | $ | 3,778,000 | $ | 3,967,693 | ||||
JBS USA LUX SA / JBS USA Finance, Inc., 144A, | 5,925,000 | 6,509,975 | ||||||
JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc. | 9,161,000 | 10,319,683 | ||||||
144A, 5.50%, 1/15/30 | 8,206,000 | 9,200,977 | ||||||
Kraft Heinz Foods Co. | 4,200,000 | 4,348,620 | ||||||
4.00%, 6/15/23 | 2,930,000 | 3,131,363 | ||||||
3.95%, 7/15/25 | 10,966,000 | 12,166,363 | ||||||
3.00%, 6/1/26 | 13,117,000 | 13,992,187 | ||||||
3.875%, 5/15/27 | 10,119,000 | 11,006,371 | ||||||
4.625%, 1/30/29 | 7,183,000 | 8,290,044 | ||||||
3.75%, 4/1/30 | 6,035,000 | 6,619,542 | ||||||
4.25%, 3/1/31 | 8,655,000 | 9,681,949 | ||||||
Lamb Weston Holdings, Inc. | 5,806,000 | 6,041,143 | ||||||
144A, 4.875%, 11/1/26 | 5,320,000 | 5,522,825 | ||||||
144A, 4.875%, 5/15/28 | 3,323,000 | 3,628,301 | ||||||
Pilgrim’s Pride Corp. | 7,021,000 | 7,168,792 | ||||||
144A, 5.875%, 9/30/27 | 6,289,000 | 6,755,015 | ||||||
Post Holdings, Inc. | 10,903,000 | 11,383,005 | ||||||
144A, 5.75%, 3/1/27 | 9,021,000 | 9,463,254 | ||||||
144A, 5.625%, 1/15/28 | 6,188,000 | 6,507,301 | ||||||
144A, 5.50%, 12/15/29 | 4,489,000 | 4,811,422 | ||||||
144A, 4.625%, 4/15/30 | 11,184,000 | 11,365,740 | ||||||
Sigma Holdco BV, 144A, | 2,964,000 | 3,039,034 | ||||||
TreeHouse Foods, Inc. | 3,553,000 | 3,627,027 | ||||||
4.00%, 9/1/28 | 3,217,000 | 3,312,143 | ||||||
US Foods, Inc. | 7,001,000 | 7,474,163 | ||||||
144A, 4.75%, 2/15/29 | 6,000,000 | 6,112,500 | ||||||
|
| |||||||
(Cost $244,713,523) | 245,592,104 | |||||||
|
| |||||||
Healthcare-Products — 0.4% | ||||||||
Avantor Funding, Inc., 144A, | 10,037,000 | 10,476,319 | ||||||
Hill-Rom Holdings, Inc., 144A, | 2,656,000 | 2,775,520 | ||||||
Hologic, Inc. | 2,644,000 | 2,804,821 | ||||||
144A, 3.25%, 2/15/29 | 6,318,000 | 6,317,621 | ||||||
Teleflex, Inc. | 2,641,000 | 2,729,632 | ||||||
4.625%, 11/15/27 | 3,305,000 | 3,490,295 | ||||||
144A, 4.25%, 6/1/28 | 3,409,000 | 3,528,315 | ||||||
|
| |||||||
(Cost $32,341,855) | 32,122,523 | |||||||
|
| |||||||
Healthcare-Services — 6.8% | ||||||||
Acadia Healthcare Co., Inc. | 3,840,000 | 3,840,000 | ||||||
144A, 5.50%, 7/1/28 | 2,914,000 | 3,079,734 |
Principal | Value | |||||||
Healthcare-Services (Continued) | ||||||||
144A, 5.00%, 4/15/29 | $ | 3,307,000 | $ | 3,447,547 | ||||
AHP Health Partners, Inc., 144A, | 2,878,000 | 3,154,461 | ||||||
Catalent Pharma Solutions, Inc. | 3,287,000 | 3,444,579 | ||||||
144A, 3.125%, 2/15/29 | 3,700,000 | 3,660,151 | ||||||
Centene Corp. | 11,317,000 | 11,854,557 | ||||||
144A, 5.375%, 8/15/26 | 5,594,000 | 5,901,670 | ||||||
4.25%, 12/15/27 | 16,334,000 | 16,994,547 | ||||||
4.625%, 12/15/29 | 23,494,000 | 25,330,056 | ||||||
3.375%, 2/15/30 | 13,287,000 | 13,685,610 | ||||||
3.00%, 10/15/30 | 14,587,000 | 14,834,250 | ||||||
2.50%, 3/1/31 | 14,200,000 | 13,792,034 | ||||||
Charles River Laboratories International, Inc. | 3,378,000 | 3,527,899 | ||||||
144A, 4.25%, 5/1/28 | 3,210,000 | 3,355,862 | ||||||
CHS/Community Health Systems, Inc. | 9,035,000 | 9,441,575 | ||||||
144A, 6.625%, 2/15/25 | 9,951,000 | 10,483,396 | ||||||
144A, 8.00%, 3/15/26 | 14,361,000 | 15,380,631 | ||||||
144A, 5.625%, 3/15/27 | 12,972,000 | 13,678,137 | ||||||
144A, 8.00%, 12/15/27 | 4,462,000 | 4,899,834 | ||||||
144A, 6.875%, 4/1/28 | 5,096,000 | 4,576,845 | ||||||
144A, 6.00%, 1/15/29 | 5,451,000 | 5,784,874 | ||||||
144A, 6.875%, 4/15/29 | 11,800,000 | 12,139,250 | ||||||
144A, 4.75%, 2/15/31 | 7,200,000 | 7,098,840 | ||||||
DaVita, Inc. | 11,543,000 | 11,737,788 | ||||||
144A, 3.75%, 2/15/31 | 9,950,000 | 9,525,682 | ||||||
Encompass Health Corp. | 5,460,000 | 5,685,498 | ||||||
4.75%, 2/1/30 | 4,978,000 | 5,274,490 | ||||||
4.625%, 4/1/31 | 2,863,000 | 3,044,799 | ||||||
Envision Healthcare Corp., 144A, | 6,622,000 | 4,758,304 | ||||||
HCA, Inc. | 8,848,000 | 9,668,254 | ||||||
5.375%, 2/1/25 | 17,830,000 | 20,040,653 | ||||||
5.875%, 2/15/26 | 9,645,000 | 11,161,194 | ||||||
5.375%, 9/1/26 | 6,036,000 | 6,900,455 | ||||||
5.625%, 9/1/28 | 9,630,000 | 11,224,295 | ||||||
5.875%, 2/1/29 | 6,790,000 | 8,015,968 | ||||||
3.50%, 9/1/30 (a) | 18,177,000 | 18,812,578 | ||||||
IQVIA, Inc. | 6,641,000 | 6,883,396 | ||||||
144A, 5.00%, 5/15/27 | 7,424,000 | 7,781,948 | ||||||
Legacy LifePoint Health LLC | 4,043,000 | 4,285,580 | ||||||
144A, 4.375%, 2/15/27 | 3,761,000 | 3,748,137 | ||||||
LifePoint Health, Inc., 144A, | 3,301,000 | 3,321,730 | ||||||
MEDNAX, Inc., 144A, | 6,616,000 | 6,996,288 | ||||||
Molina Healthcare, Inc. | 3,883,000 | 4,108,699 |
See Notes to Financial Statements. | 45 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Healthcare-Services (Continued) | ||||||||
144A, 4.375%, 6/15/28 | $ | 5,673,000 | $ | 5,891,410 | ||||
144A, 3.875%, 11/15/30 | 4,242,000 | 4,432,423 | ||||||
Radiology Partners, Inc., 144A, | 4,695,000 | 5,135,720 | ||||||
RegionalCare Hospital Partners Holdings, Inc. / LifePoint Health, Inc., 144A, | 9,946,000 | 10,737,652 | ||||||
Select Medical Corp., 144A, | 8,275,000 | 8,866,994 | ||||||
Surgery Center Holdings, Inc., 144A, | 3,554,000 | 3,960,560 | ||||||
Tenet Healthcare Corp. | 12,513,000 | 13,521,298 | ||||||
4.625%, 7/15/24 | 12,340,000 | 12,537,440 | ||||||
144A, 4.625%, 9/1/24 | 3,844,000 | 3,943,713 | ||||||
144A, 7.50%, 4/1/25 | 4,721,000 | 5,140,768 | ||||||
5.125%, 5/1/25 | 9,532,000 | 9,639,235 | ||||||
144A, 4.875%, 1/1/26 | 13,863,000 | 14,347,235 | ||||||
144A, 6.25%, 2/1/27 | 9,613,000 | 10,128,209 | ||||||
144A, 5.125%, 11/1/27 | 9,905,000 | 10,407,283 | ||||||
144A, 4.625%, 6/15/28 | 4,186,000 | 4,346,156 | ||||||
144A, 6.125%, 10/1/28 | 16,396,000 | 17,256,134 | ||||||
|
| |||||||
(Cost $511,628,035) | 516,654,305 | |||||||
|
| |||||||
Household Products/Wares — 0.2% | ||||||||
Kronos Acquisition Holdings, Inc. / KIK Custom Products, Inc. | 3,286,000 | 3,385,336 | ||||||
144A, 7.00%, 12/31/27 | 3,394,000 | 3,363,454 | ||||||
Spectrum Brands, Inc., | 6,830,000 | 7,043,437 | ||||||
|
| |||||||
(Cost $13,980,403) | 13,792,227 | |||||||
|
| |||||||
Pharmaceuticals — 3.4% | ||||||||
Bausch Health Americas, Inc. | 11,152,000 | 12,359,762 | ||||||
144A, 8.50%, 1/31/27 | 10,681,000 | 11,830,970 | ||||||
Bausch Health Cos., Inc. | 12,406,000 | 12,685,910 | ||||||
144A, 6.125%, 4/15/25 | 20,949,000 | 21,444,234 | ||||||
144A, 5.50%, 11/1/25 | 11,190,000 | 11,527,938 | ||||||
144A, 9.00%, 12/15/25 | 10,595,000 | 11,542,458 | ||||||
144A, 5.75%, 8/15/27 | 3,166,000 | 3,417,301 | ||||||
144A, 7.00%, 1/15/28 | 5,783,000 | 6,264,782 | ||||||
144A, 5.00%, 1/30/28 | 7,424,000 | 7,581,760 | ||||||
144A, 5.00%, 2/15/29 | 7,530,000 | 7,628,831 | ||||||
144A, 6.25%, 2/15/29 | 9,055,000 | 9,643,575 | ||||||
144A, 7.25%, 5/30/29 | 5,215,000 | 5,786,382 | ||||||
144A, 5.25%, 1/30/30 (a) | 8,066,000 | 8,196,024 | ||||||
144A, 5.25%, 2/15/31 | 6,626,000 | 6,741,988 | ||||||
Cheplapharm Arzneimittel GmbH, 144A, | 3,232,000 | 3,300,680 | ||||||
Elanco Animal Health, Inc. | 4,895,000 | 5,271,303 | ||||||
5.90%, 8/28/28 | 4,891,000 | 5,688,844 | ||||||
Endo Dac / Endo Finance LLC / Endo Finco, Inc. 144A, | 6,868,000 | 7,747,963 |
Principal | Value | |||||||
Pharmaceuticals (Continued) | ||||||||
144A, 6.00%, 6/30/28 | $ | 7,995,000 | $ | 7,027,605 | ||||
Par Pharmaceutical, Inc., 144A, | 13,296,000 | 14,310,618 | ||||||
Prestige Brands, Inc. | 3,897,000 | 3,959,118 | ||||||
144A, 5.125%, 1/15/28 | 2,816,000 | 2,951,731 | ||||||
Teva Pharmaceutical Finance Co. BV, | 6,021,000 | 6,046,138 | ||||||
Teva Pharmaceutical Finance Netherlands III BV | 19,469,000 | 19,103,956 | ||||||
6.00%, 4/15/24 | 8,592,000 | 9,020,097 | ||||||
7.125%, 1/31/25 | 6,082,000 | 6,595,138 | ||||||
3.15%, 10/1/26 | 22,812,000 | 21,420,696 | ||||||
6.75%, 3/1/28 (a) | 8,600,000 | 9,544,495 | ||||||
|
| |||||||
(Cost $256,260,288) | 258,640,297 | |||||||
|
| |||||||
Diversified — 0.1% | ||||||||
Holding Companies-Diversified — 0.1% | ||||||||
Stena AB, 144A, | 3,210,000 | 3,173,550 | ||||||
|
| |||||||
Energy — 12.5% | ||||||||
Energy-Alternate Sources — 0.2% | ||||||||
TerraForm Power Operating LLC | 3,259,000 | 3,330,291 | ||||||
144A, 5.00%, 1/31/28 | 4,537,000 | 5,021,892 | ||||||
144A, 4.75%, 1/15/30 | 4,797,000 | 5,061,458 | ||||||
|
| |||||||
(Cost $13,465,129) | 13,413,641 | |||||||
|
| |||||||
Oil & Gas — 7.4% | ||||||||
Antero Resources Corp. | 3,813,000 | 3,822,342 | ||||||
5.00%, 3/1/25 (a) | 4,189,000 | 4,172,244 | ||||||
144A, 8.375%, 7/15/26 | 3,300,000 | 3,612,394 | ||||||
144A, 7.625%, 2/1/29 | 4,650,000 | 4,966,781 | ||||||
Apache Corp. | 3,199,000 | 3,318,962 | ||||||
4.875%, 11/15/27 | 5,217,000 | 5,485,676 | ||||||
4.375%, 10/15/28 | 6,459,000 | 6,549,426 | ||||||
4.25%, 1/15/30 (a) | 3,794,000 | 3,829,569 | ||||||
Ascent Resources Utica Holdings LLC / ARU Finance Corp., 144A, | 3,999,000 | 4,006,498 | ||||||
Callon Petroleum Co. | 3,345,000 | 3,119,213 | ||||||
6.125%, 10/1/24 | 2,886,000 | 2,518,035 | ||||||
Calumet Specialty Products Partners LP / Calumet Finance Corp., 144A, | 3,657,000 | 3,711,416 | ||||||
Chesapeake Energy Corp. | 3,300,000 | 3,446,504 | ||||||
144A, 5.875%, 2/1/29 | 3,300,000 | 3,538,409 | ||||||
Citgo Holding, Inc., 144A, | 9,008,000 | 8,889,770 | ||||||
CITGO Petroleum Corp. | 4,053,000 | 4,064,348 |
See Notes to Financial Statements. | 46 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Oil & Gas (Continued) | ||||||||
144A, 7.00%, 6/15/25 | $ | 7,650,000 | $ | 7,899,428 | ||||
144A, 6.375%, 6/15/26 | 4,400,000 | 4,471,500 | ||||||
CNX Resources Corp. | 4,977,000 | 5,331,611 | ||||||
144A, 6.00%, 1/15/29 | 3,056,000 | 3,203,070 | ||||||
Comstock Resources, Inc. | 4,031,000 | 4,209,876 | ||||||
9.75%, 8/15/26 | 5,770,000 | 6,305,687 | ||||||
9.75%, 8/15/26 | 5,007,000 | 5,451,371 | ||||||
Continental Resources, Inc. | 4,340,000 | 4,463,126 | ||||||
3.80%, 6/1/24 | 7,441,000 | 7,634,354 | ||||||
4.375%, 1/15/28 (a) | 6,313,000 | 6,650,556 | ||||||
144A, 5.75%, 1/15/31 (a) | 9,815,000 | 11,105,673 | ||||||
CrownRock LP / CrownRock Finance, Inc., 144A, | 7,992,000 | 8,087,145 | ||||||
CVR Energy, Inc. | 4,000,000 | 3,954,000 | ||||||
144A, 5.75%, 2/15/28 (a) | 2,682,000 | 2,662,448 | ||||||
Endeavor Energy Resources LP / EER Finance, Inc. | 4,466,000 | 4,701,090 | ||||||
144A, 5.50%, 1/30/26 | 3,016,000 | 3,083,860 | ||||||
144A, 5.75%, 1/30/28 | 6,527,000 | 6,908,830 | ||||||
EQT Corp. | 3,039,000 | 3,069,116 | ||||||
7.625%, 2/1/25 | 6,961,000 | 8,095,434 | ||||||
3.90%, 10/1/27 | 8,537,000 | 8,889,151 | ||||||
8.50%, 2/1/30 | 4,601,000 | 6,023,583 | ||||||
Hilcorp Energy I LP / Hilcorp Finance Co. | 3,724,000 | 3,890,035 | ||||||
144A, 5.75%, 2/1/29 | 4,207,000 | 4,299,028 | ||||||
144A, 6.00%, 2/1/31 | 3,978,000 | 4,050,221 | ||||||
Laredo Petroleum, Inc. | 4,381,000 | 4,170,186 | ||||||
10.125%, 1/15/28 | 2,400,000 | 2,299,200 | ||||||
Leviathan Bond Ltd. | 3,145,366 | 3,332,515 | ||||||
144A,REGS, 6.125%, 6/30/25 (a) | 3,988,704 | 4,387,734 | ||||||
144A,REGS, 6.50%, 6/30/27 | 3,849,288 | 4,286,663 | ||||||
144A,REGS, 6.75%, 6/30/30 | 3,773,815 | 4,190,822 | ||||||
Matador Resources Co., | 6,992,000 | 6,825,940 | ||||||
MEG Energy Corp. | 3,465,000 | 3,577,613 | ||||||
144A, 7.125%, 2/1/27 | 7,890,000 | 8,346,870 | ||||||
144A, 5.875%, 2/1/29 | 3,900,000 | 3,969,420 | ||||||
Moss Creek Resources Holdings, Inc. | 5,013,000 | 4,170,189 | ||||||
144A, 10.50%, 5/15/27 (a) | 3,026,000 | 2,684,667 | ||||||
Murphy Oil Corp. | 3,771,000 | 3,832,279 | ||||||
5.75%, 8/15/25 | 3,588,000 | 3,561,467 | ||||||
5.875%, 12/1/27 | 3,659,000 | 3,607,554 | ||||||
Nabors Industries Ltd., 144A, | 3,658,000 | 3,254,523 |
Principal | Value | |||||||
Oil & Gas (Continued) | ||||||||
Nabors Industries, Inc., | $ | 4,249,000 | $ | 3,380,611 | ||||
Occidental Petroleum Corp. | 3,285,000 | 3,253,185 | ||||||
2.70%, 2/15/23 | 6,883,000 | 6,741,073 | ||||||
6.95%, 7/1/24 | 3,879,000 | 4,286,295 | ||||||
2.90%, 8/15/24 | 20,285,000 | 19,742,376 | ||||||
3.50%, 6/15/25 | 5,033,000 | 4,954,385 | ||||||
8.00%, 7/15/25 | 3,485,000 | 4,051,313 | ||||||
5.875%, 9/1/25 (a) | 6,350,000 | 6,899,275 | ||||||
5.50%, 12/1/25 | 5,411,000 | 5,754,599 | ||||||
5.55%, 3/15/26 | 6,671,000 | 7,130,765 | ||||||
3.40%, 4/15/26 | 7,486,000 | 7,277,814 | ||||||
3.20%, 8/15/26 | 6,520,000 | 6,273,446 | ||||||
3.00%, 2/15/27 | 5,171,000 | 4,864,308 | ||||||
8.50%, 7/15/27 | 3,466,000 | 4,156,011 | ||||||
6.375%, 9/1/28 | 3,961,000 | 4,404,137 | ||||||
3.50%, 8/15/29 | 10,085,000 | 9,633,192 | ||||||
8.875%, 7/15/30 | 6,630,000 | 8,486,400 | ||||||
6.625%, 9/1/30 | 9,380,000 | 10,683,820 | ||||||
6.125%, 1/1/31 | 8,581,000 | 9,530,273 | ||||||
7.50%, 5/1/31 | 5,112,000 | 6,019,380 | ||||||
7.875%, 9/15/31 | 3,234,000 | 3,840,375 | ||||||
Ovintiv Exploration, Inc. | 6,483,000 | 7,114,101 | ||||||
5.375%, 1/1/26 | 4,537,000 | 5,023,975 | ||||||
Parkland Corp. | 3,357,000 | 3,510,163 | ||||||
144A, 5.875%, 7/15/27 | 3,159,000 | 3,362,361 | ||||||
PBF Holding Co. LLC / PBF Finance Corp. | 8,626,000 | 8,420,054 | ||||||
7.25%, 6/15/25 | 4,726,000 | 3,269,801 | ||||||
6.00%, 2/15/28 | 6,335,000 | 4,034,603 | ||||||
PDC Energy, Inc. | 2,832,000 | 2,898,793 | ||||||
5.75%, 5/15/26 (a) | 4,800,000 | 4,926,480 | ||||||
Puma International Financing SA | 3,940,000 | 3,948,668 | ||||||
144A, 5.00%, 1/24/26 | 4,712,000 | 4,558,860 | ||||||
QEP Resources, Inc. | 3,509,000 | 3,664,063 | ||||||
5.25%, 5/1/23 | 3,794,000 | 4,030,177 | ||||||
5.625%, 3/1/26 | 3,501,000 | 3,943,456 | ||||||
Range Resources Corp. | 3,971,000 | 3,998,301 | ||||||
4.875%, 5/15/25 (a) | 4,809,000 | 4,762,112 | ||||||
9.25%, 2/1/26 | 5,565,000 | 6,062,845 | ||||||
144A, 8.25%, 1/15/29 | 3,998,000 | 4,304,147 | ||||||
Seven Generations Energy Ltd., 144A, | 4,811,000 | 5,012,653 | ||||||
SM Energy Co. | 3,216,000 | 3,624,046 | ||||||
6.75%, 9/15/26 | 2,807,000 | 2,666,299 | ||||||
6.625%, 1/15/27 (a) | 2,579,000 | 2,437,155 | ||||||
Southwestern Energy Co. | 5,234,000 | 5,505,514 | ||||||
7.50%, 4/1/26 (a) | 4,497,000 | 4,740,827 |
See Notes to Financial Statements. | 47 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Oil & Gas (Continued) | ||||||||
7.75%, 10/1/27 (a) | $ | 3,199,000 | $ | 3,424,769 | ||||
Sunoco LP / Sunoco Finance Corp. | 5,326,000 | 5,493,023 | ||||||
6.00%, 4/15/27 | 3,488,000 | 3,636,240 | ||||||
144A, 4.50%, 5/15/29 | 5,554,000 | 5,557,471 | ||||||
Transocean, Inc. | 2,203,000 | 1,487,025 | ||||||
144A, 7.50%, 1/15/26 | 234,000 | 149,760 | ||||||
144A, 11.50%, 1/30/27 | 6,998,000 | 5,783,847 | ||||||
144A, 8.00%, 2/1/27 | 4,734,000 | 2,970,585 | ||||||
WPX Energy, Inc. | 2,900,000 | 3,229,875 | ||||||
5.75%, 6/1/26 | 3,290,500 | 3,464,074 | ||||||
5.25%, 10/15/27 | 4,366,000 | 4,669,481 | ||||||
5.875%, 6/15/28 | 2,963,000 | 3,244,929 | ||||||
4.50%, 1/15/30 | 6,056,000 | 6,445,401 | ||||||
|
| |||||||
(Cost $540,969,314) | 566,728,389 | |||||||
|
| |||||||
Oil & Gas Services — 0.5% | ||||||||
Archrock Partners LP / Archrock Partners Finance Corp. | 3,353,000 | 3,546,535 | ||||||
144A, 6.25%, 4/1/28 | 5,154,000 | 5,379,487 | ||||||
TechnipFMC PLC, 144A, | 6,650,000 | 6,954,373 | ||||||
USA Compression Partners LP / USA Compression Finance Corp. | 4,743,000 | 4,906,041 | ||||||
6.875%, 9/1/27 | 5,259,000 | 5,530,838 | ||||||
Weatherford International Ltd. | 3,333,000 | 3,510,066 | ||||||
144A, 11.00%, 12/1/24 (a) | 13,672,000 | 13,462,818 | ||||||
|
| |||||||
(Cost $41,817,749) | 43,290,158 | |||||||
|
| |||||||
Pipelines — 4.4% | ||||||||
Antero Midstream Partners LP / Antero Midstream Finance Corp. | 4,544,000 | 4,589,440 | ||||||
144A, 7.875%, 5/15/26 | 3,391,000 | 3,696,190 | ||||||
144A, 5.75%, 3/1/27 | 4,291,000 | 4,315,137 | ||||||
144A, 5.75%, 1/15/28 | 4,291,000 | 4,333,910 | ||||||
Blue Racer Midstream LLC / Blue Racer Finance Corp., 144A, | 3,960,000 | 4,265,257 | ||||||
Buckeye Partners LP | 2,928,000 | 2,974,145 | ||||||
144A, 4.125%, 3/1/25 | 3,353,000 | 3,434,729 | ||||||
3.95%, 12/1/26 | 4,018,000 | 3,999,115 | ||||||
4.125%, 12/1/27 | 2,892,000 | 2,912,779 | ||||||
144A, 4.50%, 3/1/28 | 3,035,000 | 3,080,525 | ||||||
Cheniere Energy Partners LP | 9,444,000 | 9,718,348 | ||||||
5.625%, 10/1/26 | 7,646,000 | 7,964,838 | ||||||
4.50%, 10/1/29 | 9,949,000 | 10,448,838 | ||||||
Cheniere Energy, Inc., 144A, | 13,425,000 | 14,012,344 |
Principal | Value | |||||||
Pipelines (Continued) | ||||||||
Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp. | $ | 3,550,000 | $ | 3,578,577 | ||||
144A, 5.625%, 5/1/27 | 3,899,000 | 3,872,194 | ||||||
144A, 6.00%, 2/1/29 | 4,533,000 | 4,493,359 | ||||||
DCP Midstream Operating LP | 2,619,000 | 2,704,117 | ||||||
5.375%, 7/15/25 | 5,588,000 | 5,967,509 | ||||||
5.625%, 7/15/27 | 3,301,000 | 3,575,742 | ||||||
5.125%, 5/15/29 | 4,007,000 | 4,253,070 | ||||||
EnLink Midstream LLC, | 3,340,000 | 3,312,862 | ||||||
EnLink Midstream Partners LP | 3,176,000 | 3,203,790 | ||||||
4.15%, 6/1/25 | 4,122,000 | 4,101,390 | ||||||
4.85%, 7/15/26 | 3,737,000 | 3,732,329 | ||||||
EQM Midstream Partners LP | 3,747,000 | 3,869,939 | ||||||
4.00%, 8/1/24 | 3,259,000 | 3,296,690 | ||||||
144A, 6.00%, 7/1/25 | 4,621,000 | 4,892,484 | ||||||
4.125%, 12/1/26 | 3,182,000 | 3,115,616 | ||||||
144A, 6.50%, 7/1/27 | 6,054,000 | 6,502,753 | ||||||
5.50%, 7/15/28 | 5,607,000 | 5,787,153 | ||||||
144A, 4.50%, 1/15/29 | 5,300,000 | 5,147,625 | ||||||
144A, 4.75%, 1/15/31 | 7,300,000 | 7,044,500 | ||||||
Genesis Energy LP / Genesis Energy Finance Corp. | 3,949,000 | 3,839,119 | ||||||
8.00%, 1/15/27 | 4,536,000 | 4,593,653 | ||||||
7.75%, 2/1/28 | 4,790,000 | 4,737,118 | ||||||
Hess Midstream Operations LP | 5,702,000 | 5,917,279 | ||||||
144A, 5.125%, 6/15/28 | 3,511,000 | 3,625,107 | ||||||
New Fortress Energy, Inc., 144A, | 8,209,000 | 8,530,793 | ||||||
NGL Energy Operating LLC / NGL Energy Finance Corp., 144A, | 13,500,000 | 13,947,863 | ||||||
NGL Energy Partners LP / NGL Energy Finance Corp., | 3,710,000 | 3,568,556 | ||||||
NuStar Logistics LP | 3,967,000 | 4,230,806 | ||||||
6.00%, 6/1/26 | 3,310,000 | 3,536,023 | ||||||
5.625%, 4/28/27 | 3,607,000 | 3,776,078 | ||||||
6.375%, 10/1/30 | 3,961,000 | 4,385,164 | ||||||
Rockies Express Pipeline LLC | 3,106,000 | 3,173,944 | ||||||
144A, 4.95%, 7/15/29 | 3,399,000 | 3,639,054 | ||||||
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp. | 3,410,000 | 3,437,945 | ||||||
144A, 7.50%, 10/1/25 | 4,206,000 | 4,492,744 | ||||||
144A, 6.00%, 3/1/27 | 3,068,000 | 3,102,699 | ||||||
144A, 5.50%, 1/15/28 | 5,224,000 | 5,147,756 | ||||||
144A, 6.00%, 12/31/30 | 4,445,000 | 4,427,665 |
See Notes to Financial Statements. | 48 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Pipelines (Continued) | ||||||||
Targa Resources Partners LP / Targa Resources Partners Finance Corp. 4.25%, 11/15/23 | $ | 3,264,000 | $ | 3,273,449 | ||||
5.875%, 4/15/26 | 6,414,000 | 6,690,924 | ||||||
5.375%, 2/1/27 | 3,184,000 | 3,310,771 | ||||||
6.50%, 7/15/27 | 4,996,000 | 5,383,989 | ||||||
5.00%, 1/15/28 | 4,751,000 | 4,955,222 | ||||||
6.875%, 1/15/29 | 4,955,000 | 5,503,147 | ||||||
5.50%, 3/1/30 | 6,048,000 | 6,473,235 | ||||||
144A, 4.875%, 2/1/31 | 6,300,000 | 6,470,100 | ||||||
144A, 4.00%, 1/15/32 | 6,700,000 | 6,580,740 | ||||||
Western Midstream Operating LP | 3,966,000 | 4,052,756 | ||||||
4.35%, 2/1/25 | 6,316,000 | 6,485,269 | ||||||
3.95%, 6/1/25 | 4,058,000 | 4,106,189 | ||||||
4.65%, 7/1/26 | 3,228,000 | 3,347,743 | ||||||
4.50%, 3/1/28 | 2,579,000 | 2,682,160 | ||||||
4.75%, 8/15/28 | 2,621,000 | 2,752,181 | ||||||
5.30%, 2/1/30 | 7,659,000 | 8,312,830 | ||||||
|
| |||||||
(Cost $328,754,513) | 334,687,365 | |||||||
|
| |||||||
Financial — 9.2% | ||||||||
Banks — 1.0% | ||||||||
CIT Group, Inc. | 7,672,000 | 8,105,008 | ||||||
5.00%, 8/1/23 | 5,300,000 | 5,793,562 | ||||||
4.75%, 2/16/24 | 3,455,000 | 3,767,038 | ||||||
3.929%, 6/19/24 | 3,301,000 | 3,499,060 | ||||||
5.25%, 3/7/25 | 3,444,000 | 3,924,008 | ||||||
6.125%, 3/9/28 | 2,331,000 | 2,892,911 | ||||||
Commerzbank AG, 144A, | 6,549,000 | 7,578,978 | ||||||
Deutsche Bank AG, | 8,250,000 | 8,135,330 | ||||||
Freedom Mortgage Corp. | 3,402,000 | 3,540,206 | ||||||
144A, 8.25%, 4/15/25 | 4,550,000 | 4,743,375 | ||||||
144A, 7.625%, 5/1/26 | 3,673,000 | 3,934,701 | ||||||
Intesa Sanpaolo SpA | 13,544,000 | 14,759,015 | ||||||
144A, 5.71%, 1/15/26 | 10,047,000 | 11,305,041 | ||||||
|
| |||||||
(Cost $79,982,663) | 81,978,233 | |||||||
|
| |||||||
Diversified Financial Services — 2.3% | ||||||||
Ally Financial, Inc., | 6,985,000 | 7,980,871 | ||||||
LPL Holdings, Inc. | 6,115,000 | 6,314,960 | ||||||
144A, 4.625%, 11/15/27 | 2,387,000 | 2,448,883 | ||||||
Nationstar Mortgage Holdings, Inc. | 4,307,000 | 4,529,758 | ||||||
144A, 5.50%, 8/15/28 | 5,729,000 | 5,897,289 | ||||||
144A, 5.125%, 12/15/30 | 4,096,000 | 4,183,613 | ||||||
Navient Corp. | 6,188,000 | 6,436,324 | ||||||
5.50%, 1/25/23 | 7,382,000 | 7,654,211 | ||||||
7.25%, 9/25/23 | 3,389,000 | 3,683,419 |
Principal | Value | |||||||
Diversified Financial Services (Continued) | ||||||||
MTN, 6.125%, 3/25/24 | $ | 5,655,000 | $ | 5,980,078 | ||||
5.875%, 10/25/24 | 3,011,000 | 3,176,605 | ||||||
6.75%, 6/25/25 | 3,185,000 | 3,430,882 | ||||||
6.75%, 6/15/26 | 3,326,000 | 3,565,056 | ||||||
5.00%, 3/15/27 (a) | 4,845,000 | 4,754,786 | ||||||
4.875%, 3/15/28 | 3,300,000 | 3,183,906 | ||||||
NFP Corp., 144A, | 11,888,000 | 12,291,360 | ||||||
OneMain Finance Corp. | 6,226,000 | 6,513,953 | ||||||
5.625%, 3/15/23 | 5,565,000 | 5,930,203 | ||||||
6.125%, 3/15/24 | 8,367,000 | 9,004,984 | ||||||
6.875%, 3/15/25 | 7,808,000 | 8,821,127 | ||||||
8.875%, 6/1/25 | 4,810,000 | 5,293,165 | ||||||
7.125%, 3/15/26 | 10,635,000 | 12,296,772 | ||||||
6.625%, 1/15/28 | 4,920,000 | 5,603,339 | ||||||
5.375%, 11/15/29 | 5,367,000 | 5,675,603 | ||||||
4.00%, 9/15/30 | 5,611,000 | 5,450,413 | ||||||
PennyMac Financial Services, Inc. 144A, 5.375%, 10/15/25 | 4,300,000 | 4,498,875 | ||||||
144A, 4.25%, 2/15/29 | 4,300,000 | 4,257,946 | ||||||
Quicken Loans LLC, 144A, | 6,691,000 | 7,071,885 | ||||||
Quicken Loans LLC / Quicken Loans Co.-Issuer, Inc. | 4,892,000 | 4,852,253 | ||||||
144A, 3.875%, 3/1/31 | 8,342,000 | 8,300,290 | ||||||
|
| |||||||
(Cost $178,798,976) | 179,082,809 | |||||||
|
| |||||||
Insurance — 0.8% | ||||||||
Acrisure LLC / Acrisure Finance, Inc. 144A, 7.00%, 11/15/25 | 6,338,000 | 6,508,334 | ||||||
144A, 10.125%, 8/1/26 | 2,607,000 | 3,009,025 | ||||||
144A, 4.25%, 2/15/29 | 4,500,000 | 4,427,820 | ||||||
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer | 3,652,000 | 3,658,848 | ||||||
144A, 6.75%, 10/15/27 | 8,666,000 | 8,977,976 | ||||||
AssuredPartners, Inc. | 3,589,000 | 3,680,717 | ||||||
144A, 5.625%, 1/15/29 | 3,677,000 | 3,699,981 | ||||||
HUB International Ltd., 144A, | 10,683,000 | 11,141,354 | ||||||
MGIC Investment Corp., 5.25%, 8/15/28 | 4,163,000 | 4,383,743 | ||||||
Radian Group, Inc. | 2,744,000 | 2,888,060 | ||||||
6.625%, 3/15/25 | 3,943,000 | 4,407,584 | ||||||
4.875%, 3/15/27 | 2,919,000 | 3,101,438 | ||||||
|
| |||||||
(Cost $59,547,777) | 59,884,880 | |||||||
|
| |||||||
Real Estate — 0.5% | ||||||||
Howard Hughes Corp. | 4,952,000 | 5,244,168 | ||||||
144A, 4.125%, 2/1/29 | 4,300,000 | 4,273,770 | ||||||
144A, 4.375%, 2/1/31 | 4,300,000 | 4,295,528 |
See Notes to Financial Statements. | 49 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Real Estate (Continued) | ||||||||
Kennedy-Wilson, Inc. | $ | 3,400,000 | $ | 3,508,630 | ||||
5.00%, 3/1/31 | 3,300,000 | 3,411,375 | ||||||
Realogy Group LLC / Realogy Co.-Issuer Corp. | 2,653,000 | 2,760,778 | ||||||
144A, 7.625%, 6/15/25 | 4,161,000 | 4,520,989 | ||||||
144A, 9.375%, 4/1/27 | 3,884,000 | 4,280,848 | ||||||
144A, 5.75%, 1/15/29 | 5,700,000 | 5,733,915 | ||||||
|
| |||||||
(Cost $37,676,725) | 38,030,001 | |||||||
|
| |||||||
Real Estate Investment Trusts — 4.1% | ||||||||
Diversified Healthcare Trust | 6,585,000 | 7,424,587 | ||||||
4.75%, 2/15/28 | 3,163,000 | 3,123,463 | ||||||
4.375%, 3/1/31 | 3,500,000 | 3,474,625 | ||||||
EPR Properties | 2,745,000 | 2,846,226 | ||||||
4.50%, 6/1/27 (a) | 3,140,000 | 3,200,874 | ||||||
4.95%, 4/15/28 | 2,673,000 | 2,744,449 | ||||||
3.75%, 8/15/29 | 3,448,000 | 3,278,961 | ||||||
ESH Hospitality, Inc. | 7,958,000 | 8,123,964 | ||||||
144A, 4.625%, 10/1/27 | 4,903,000 | 4,985,714 | ||||||
HAT Holdings I LLC / HAT Holdings II LLC | 3,060,000 | 3,168,661 | ||||||
144A, 6.00%, 4/15/25 | 2,922,000 | 3,071,752 | ||||||
Iron Mountain, Inc. | 6,448,000 | 6,719,429 | ||||||
144A, 5.25%, 3/15/28 | 5,664,000 | 5,929,500 | ||||||
144A, 5.00%, 7/15/28 | 3,359,000 | 3,489,195 | ||||||
144A, 4.875%, 9/15/29 | 6,614,000 | 6,752,894 | ||||||
144A, 5.25%, 7/15/30 | 8,424,000 | 8,676,720 | ||||||
144A, 4.50%, 2/15/31 | 7,306,000 | 7,296,868 | ||||||
144A, 5.625%, 7/15/32 | 3,973,000 | 4,210,933 | ||||||
iStar, Inc. | 4,885,000 | 5,021,902 | ||||||
4.25%, 8/1/25 | 3,845,000 | 3,852,728 | ||||||
5.50%, 2/15/26 | 2,528,000 | 2,589,620 | ||||||
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp. | 3,397,000 | 3,420,354 | ||||||
144A, 4.25%, 2/1/27 | 4,454,000 | 4,309,245 | ||||||
MGM Growth Properties Operating Partnership LP / MGP Finance Co-Issuer, Inc. | 7,223,000 | 7,814,383 | ||||||
144A, 4.625%, 6/15/25 (a) | 5,490,000 | 5,824,890 | ||||||
4.50%, 9/1/26 | 3,483,000 | 3,700,688 | ||||||
5.75%, 2/1/27 | 4,380,000 | 4,956,255 | ||||||
144A, 3.875%, 2/15/29 | 4,930,000 | 4,989,628 | ||||||
MPT Operating Partnership LP / MPT Finance Corp. | 3,573,000 | 3,709,846 | ||||||
5.00%, 10/15/27 | 9,993,000 | 10,662,281 | ||||||
4.625%, 8/1/29 | 5,194,000 | 5,593,289 | ||||||
3.50%, 3/15/31 | 8,721,000 | 8,885,391 |
Principal | Value | |||||||
Real Estate Investment Trusts (Continued) | ||||||||
Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co.-Issuer | $ | 4,262,000 | $ | 4,628,852 | ||||
144A, 5.875%, 10/1/28 | 4,720,000 | 4,953,050 | ||||||
RHP Hotel Properties LP / RHP Finance Corp. | 4,729,000 | 4,802,300 | ||||||
144A, 4.50%, 2/15/29 | 3,800,000 | 3,773,020 | ||||||
SBA Communications Corp. | 7,563,000 | 7,766,823 | ||||||
3.875%, 2/15/27 | 9,523,000 | 9,882,779 | ||||||
144A, 3.125%, 2/1/29 | 10,000,000 | 9,784,000 | ||||||
Service Properties Trust | 3,234,000 | 3,286,488 | ||||||
4.50%, 6/15/23 | 3,559,000 | 3,592,366 | ||||||
4.35%, 10/1/24 | 5,149,000 | 5,116,819 | ||||||
7.50%, 9/15/25 | 5,589,000 | 6,345,231 | ||||||
4.75%, 10/1/26 | 2,927,000 | 2,890,412 | ||||||
4.95%, 2/15/27 (a) | 2,806,000 | 2,785,937 | ||||||
5.50%, 12/15/27 | 2,862,000 | 3,076,443 | ||||||
3.95%, 1/15/28 | 2,204,000 | 2,042,832 | ||||||
4.95%, 10/1/29 | 2,635,000 | 2,547,716 | ||||||
4.375%, 2/15/30 | 3,069,000 | 2,859,924 | ||||||
Starwood Property Trust, Inc., | 3,528,000 | 3,617,258 | ||||||
Uniti Group LP / Uniti Fiber Holdings, Inc. / CSL Capital LLC | 4,390,000 | 4,519,439 | ||||||
144A, 7.875%, 2/15/25 | 15,130,000 | 16,325,951 | ||||||
Uniti Group LP / Uniti Group Finance, Inc. / CSL Capital LLC | 3,180,000 | 3,233,662 | ||||||
144A, 6.50%, 2/15/29 | 7,200,000 | 7,287,840 | ||||||
VICI Properties LP / VICI Note Co., Inc. 144A, 3.50%, 2/15/25 | 4,951,000 | 5,028,359 | ||||||
144A, 4.25%, 12/1/26 | 8,174,000 | 8,442,312 | ||||||
144A, 3.75%, 2/15/27 | 4,874,000 | 4,955,493 | ||||||
144A, 4.625%, 12/1/29 | 6,760,000 | 7,107,396 | ||||||
144A, 4.125%, 8/15/30 | 6,532,000 | 6,801,445 | ||||||
|
| |||||||
(Cost $307,620,818) | 311,303,462 | |||||||
|
| |||||||
Venture Capital — 0.5% | ||||||||
Icahn Enterprises LP / Icahn Enterprises Finance Corp. | 2,304,000 | 2,352,960 | ||||||
4.75%, 9/15/24 | 7,249,000 | 7,631,856 | ||||||
6.375%, 12/15/25 | 4,543,000 | 4,707,457 | ||||||
6.25%, 5/15/26 | 8,539,000 | 8,994,129 | ||||||
5.25%, 5/15/27 | 6,665,000 | 7,014,912 | ||||||
144A, 4.375%, 2/1/29 | 4,990,000 | 4,996,337 | ||||||
|
| |||||||
(Cost $35,395,531) | 35,697,651 | |||||||
|
| |||||||
Industrial — 8.2% | ||||||||
Aerospace/Defense — 1.9% | ||||||||
Howmet Aerospace, Inc. | 8,250,000 | 8,981,362 |
See Notes to Financial Statements. | 50 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Aerospace/Defense (Continued) | ||||||||
6.875%, 5/1/25 | $ | 7,993,000 | $ | 9,261,489 | ||||
Rolls-Royce PLC | 6,700,000 | 6,725,125 | ||||||
144A, 5.75%, 10/15/27 | 6,563,000 | 7,104,448 | ||||||
Signature Aviation US Holdings, Inc. 144A, 5.375%, 5/1/26 | 3,562,000 | 3,651,050 | ||||||
144A, 4.00%, 3/1/28 | 4,169,000 | 4,228,158 | ||||||
Spirit AeroSystems, Inc. | 3,751,000 | 3,904,678 | ||||||
144A, 7.50%, 4/15/25 | 7,874,000 | 8,346,440 | ||||||
4.60%, 6/15/28 | 4,482,000 | 4,340,884 | ||||||
TransDigm, Inc. | 5,547,000 | 5,663,484 | ||||||
144A, 8.00%, 12/15/25 | 7,336,000 | 7,994,406 | ||||||
144A, 6.25%, 3/15/26 | 28,162,000 | 29,712,459 | ||||||
6.375%, 6/15/26 | 6,439,000 | 6,645,402 | ||||||
7.50%, 3/15/27 | 3,784,000 | 4,039,685 | ||||||
5.50%, 11/15/27 | 17,034,000 | 17,524,239 | ||||||
144A, 4.625%, 1/15/29 | 8,271,000 | 8,146,935 | ||||||
Triumph Group, Inc. | 4,632,000 | 5,127,045 | ||||||
144A, 6.25%, 9/15/24 | 3,466,000 | 3,496,328 | ||||||
7.75%, 8/15/25 (a) | 3,315,000 | 3,256,988 | ||||||
|
| |||||||
(Cost $145,770,625) | 148,150,605 | |||||||
|
| |||||||
Building Materials — 0.7% | ||||||||
Builders FirstSource, Inc. | 5,509,000 | 5,915,289 | ||||||
144A, 5.00%, 3/1/30 | 3,322,000 | 3,495,408 | ||||||
Cornerstone Building Brands, Inc. 144A, 8.00%, 4/15/26 | 4,338,000 | 4,508,830 | ||||||
144A, 6.125%, 1/15/29 | 3,506,000 | 3,600,224 | ||||||
JELD-WEN, Inc. | 3,127,000 | 3,169,668 | ||||||
144A, 4.875%, 12/15/27 | 2,268,000 | 2,360,081 | ||||||
Standard Industries, Inc. | 5,789,000 | 5,987,997 | ||||||
144A, 4.75%, 1/15/28 | 6,424,000 | 6,672,930 | ||||||
144A, 4.375%, 7/15/30 | 7,643,000 | 7,898,773 | ||||||
144A, 3.375%, 1/15/31 | 7,170,000 | 6,872,732 | ||||||
Summit Materials LLC / Summit Materials Finance Corp., 144A, 5.25%, 1/15/29 | 4,570,000 | 4,855,625 | ||||||
|
| |||||||
(Cost $55,860,310) | 55,337,557 | |||||||
|
| |||||||
Electrical Components & Equipment — 0.4% | ||||||||
Energizer Holdings, Inc. | 3,954,000 | 4,046,919 | ||||||
144A, 4.375%, 3/31/29 | 5,434,000 | 5,428,566 | ||||||
WESCO Distribution, Inc. | 9,682,000 | 10,489,963 | ||||||
144A, 7.25%, 6/15/28 | 8,849,000 | 9,845,884 | ||||||
|
| |||||||
(Cost $29,804,870) | 29,811,332 | |||||||
|
| |||||||
Electronics — 0.3% | ||||||||
Sensata Technologies BV | 3,401,000 | 3,630,567 | ||||||
144A, 5.625%, 11/1/24 | 3,001,000 | 3,317,981 |
Principal | Value | |||||||
Electronics (Continued) | ||||||||
144A, 5.00%, 10/1/25 | $ | 4,372,000 | $ | 4,805,156 | ||||
Sensata Technologies, Inc. | 2,939,000 | 3,139,219 | ||||||
144A, 3.75%, 2/15/31 | 5,005,000 | 5,030,025 | ||||||
|
| |||||||
(Cost $19,781,608) | 19,922,948 | |||||||
|
| |||||||
Engineering & Construction — 0.4% | ||||||||
AECOM | 5,079,000 | 5,650,387 | ||||||
5.125%, 3/15/27 | 6,833,000 | 7,480,768 | ||||||
Brand Industrial Services, Inc., 144A, 8.50%, 7/15/25 | 6,454,000 | 6,470,135 | ||||||
Fluor Corp. | 2,964,000 | 3,006,356 | ||||||
4.25%, 9/15/28 (a) | 4,117,000 | 4,209,633 | ||||||
|
| |||||||
(Cost $25,960,964) | 26,817,279 | |||||||
|
| |||||||
Environmental Control — 0.5% | ||||||||
Clean Harbors, Inc., 144A, | 3,514,000 | 3,669,284 | ||||||
Covanta Holding Corp. | 2,654,000 | 2,759,881 | ||||||
6.00%, 1/1/27 | 2,591,000 | 2,703,864 | ||||||
5.00%, 9/1/30 | 2,529,000 | 2,626,999 | ||||||
GFL Environmental, Inc. | 3,209,000 | 3,295,916 | ||||||
144A, 3.75%, 8/1/25 | 4,762,000 | 4,860,216 | ||||||
144A, 5.125%, 12/15/26 | 3,458,000 | 3,652,858 | ||||||
144A, 4.00%, 8/1/28 | 3,358,000 | 3,280,346 | ||||||
144A, 3.50%, 9/1/28 | 4,990,000 | 4,883,963 | ||||||
Stericycle, Inc. | 3,923,000 | 4,060,305 | ||||||
144A, 3.875%, 1/15/29 | 3,333,000 | 3,360,997 | ||||||
|
| |||||||
(Cost $39,542,473) | 39,154,629 | |||||||
|
| |||||||
Machinery-Diversified — 0.4% | ||||||||
Colfax Corp. | 3,698,000 | 3,822,808 | ||||||
144A, 6.375%, 2/15/26 | 2,741,000 | 2,926,881 | ||||||
Maxim Crane Works Holdings Capital LLC, 144A, | 3,526,000 | 3,711,485 | ||||||
Vertical Holdco GmbH, 144A, | 2,943,000 | 3,186,136 | ||||||
Vertical US Newco, Inc., 144A, | 10,329,000 | 10,787,349 | ||||||
Welbilt, Inc., | 2,667,000 | 2,735,342 | ||||||
|
| |||||||
(Cost $27,082,754) | 27,170,001 | |||||||
|
| |||||||
Miscellaneous Manufacturing — 0.8% | ||||||||
Bombardier, Inc. | 2,975,000 | 3,022,600 | ||||||
144A, 6.00%, 10/15/22 | 8,580,000 | 8,435,642 | ||||||
144A, 6.125%, 1/15/23 | 8,091,000 | 8,012,113 | ||||||
144A, 7.50%, 12/1/24 | 6,477,000 | 6,088,380 | ||||||
144A, 7.50%, 3/15/25 | 10,062,000 | 9,216,188 | ||||||
144A, 7.875%, 4/15/27 | 13,083,000 | 11,764,626 |
See Notes to Financial Statements. | 51 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Miscellaneous Manufacturing (Continued) | ||||||||
FXI Holdings, Inc. | $ | 3,404,000 | $ | 3,463,570 | ||||
144A, 12.25%, 11/15/26 | 5,107,000 | 5,801,986 | ||||||
Hillenbrand, Inc., | 2,875,000 | 3,060,078 | ||||||
|
| |||||||
(Cost $57,930,900) | 58,865,183 | |||||||
|
| |||||||
Packaging & Containers — 2.4% | ||||||||
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc. | 4,824,000 | 4,991,393 | ||||||
144A, 5.25%, 4/30/25 | 4,256,000 | 4,495,804 | ||||||
144A, 4.125%, 8/15/26 | 8,021,000 | 8,311,023 | ||||||
144A, 5.25%, 8/15/27 | 6,658,000 | 6,901,816 | ||||||
144A, 5.25%, 8/15/27 | 5,414,000 | 5,612,261 | ||||||
Ball Corp. | 5,410,000 | 5,606,789 | ||||||
4.00%, 11/15/23 | 6,690,000 | 7,087,219 | ||||||
5.25%, 7/1/25 | 6,855,000 | 7,724,728 | ||||||
4.875%, 3/15/26 | 5,095,000 | 5,688,249 | ||||||
2.875%, 8/15/30 | 8,265,000 | 8,037,712 | ||||||
Berry Global, Inc. | 630,000 | 641,025 | ||||||
144A, 0.95%, 2/15/24 | 5,500,000 | 5,505,748 | ||||||
144A, 1.57%, 1/15/26 | 4,570,000 | 4,578,820 | ||||||
144A, 4.50%, 2/15/26 (a) | 2,918,000 | 2,985,479 | ||||||
144A, 4.875%, 7/15/26 | 8,589,000 | 9,181,255 | ||||||
144A, 5.625%, 7/15/27 | 3,013,000 | 3,199,429 | ||||||
Cascades, Inc./Cascades USA, Inc., 144A, | 3,961,000 | 4,191,233 | ||||||
Crown Americas LLC / Crown Americas Capital Corp. IV, 4.50%, 1/15/23 | 6,146,000 | 6,476,348 | ||||||
Flex Acquisition Co., Inc. | 4,126,000 | 4,189,994 | ||||||
144A, 7.875%, 7/15/26 | 3,275,000 | 3,406,000 | ||||||
Graphic Packaging International LLC, 144A, | 2,733,000 | 2,811,300 | ||||||
LABL Escrow Issuer LLC | 4,381,000 | 4,706,837 | ||||||
144A, 10.50%, 7/15/27 (a) | 4,733,000 | 5,293,506 | ||||||
Mauser Packaging Solutions Holding Co. | 9,569,000 | 9,618,854 | ||||||
144A, 7.25%, 4/15/25 | 9,044,000 | 8,948,021 | ||||||
Owens-Brockway Glass Container, Inc. 144A, 5.875%, 8/15/23 | 4,287,000 | 4,616,563 | ||||||
144A, 6.625%, 5/13/27 | 4,899,000 | 5,263,363 | ||||||
Reynolds Group Issuer, Inc. / Reynolds Group Issuer LLC / Reynolds Group Issuer Lu, 144A, | 6,503,000 | 6,494,871 | ||||||
Sealed Air Corp. | 2,910,000 | 3,039,131 | ||||||
144A, 5.25%, 4/1/23 | 2,508,000 | 2,656,336 | ||||||
144A, 5.125%, 12/1/24 | 2,561,000 | 2,809,097 | ||||||
144A, 5.50%, 9/15/25 | 2,839,000 | 3,160,162 | ||||||
144A, 4.00%, 12/1/27 | 2,827,000 | 2,962,040 |
Principal | Value | |||||||
Packaging & Containers (Continued) | ||||||||
Silgan Holdings, Inc., | $ | 3,821,000 | $ | 3,977,852 | ||||
Trivium Packaging Finance BV | 6,950,000 | 7,284,121 | ||||||
144A, 8.50%, 8/15/27 | 4,714,000 | 5,064,132 | ||||||
|
| |||||||
(Cost $187,225,919) | 187,518,511 | |||||||
|
| |||||||
Transportation — 0.3% | ||||||||
Cargo Aircraft Management, Inc., 144A, 4.75%, 2/1/28 | 3,382,000 | 3,515,166 | ||||||
Kenan Advantage Group, Inc., 144A, | 2,573,000 | 2,556,649 | ||||||
XPO Logistics, Inc. | 2,219,000 | 2,259,219 | ||||||
144A, 6.75%, 8/15/24 | 7,698,000 | 8,092,522 | ||||||
144A, 6.25%, 5/1/25 | 7,702,000 | 8,281,961 | ||||||
|
| |||||||
(Cost $24,542,297) | 24,705,517 | |||||||
|
| |||||||
Trucking & Leasing — 0.1% | ||||||||
Fortress Transportation and Infrastructure Investors LLC | 3,135,000 | 3,136,960 | ||||||
144A, 6.50%, 10/1/25 | 4,451,000 | 4,639,188 | ||||||
144A, 9.75%, 8/1/27 | 3,258,000 | 3,722,509 | ||||||
|
| |||||||
(Cost $11,313,741) | 11,498,657 | |||||||
|
| |||||||
Technology — 4.2% | ||||||||
Computers — 1.5% | ||||||||
Banff Merger Sub, Inc., 144A, | 9,902,000 | 10,565,632 | ||||||
Dell International LLC / EMC Corp., 144A, | 10,939,000 | 11,336,961 | ||||||
Diebold Nixdorf, Inc. | 2,839,000 | 2,899,329 | ||||||
144A, 9.375%, 7/15/25 | 4,686,000 | 5,245,391 | ||||||
EMC Corp., | 6,667,000 | 6,925,680 | ||||||
Exela Intermediate LLC / Exela Finance, Inc., 144A, | 6,159,000 | 1,993,976 | ||||||
NCR Corp. | 2,988,000 | 3,268,125 | ||||||
144A, 5.75%, 9/1/27 | 3,030,000 | 3,169,092 | ||||||
144A, 5.00%, 10/1/28 | 4,335,000 | 4,409,064 | ||||||
144A, 6.125%, 9/1/29 | 3,147,000 | 3,372,608 | ||||||
144A, 5.25%, 10/1/30 | 3,222,000 | 3,356,921 | ||||||
Seagate HDD Cayman | 3,595,000 | 3,847,369 | ||||||
4.875%, 3/1/24 | 3,735,000 | 4,019,607 | ||||||
4.75%, 1/1/25 (a) | 3,575,000 | 3,876,641 | ||||||
4.875%, 6/1/27 | 3,088,000 | 3,440,341 | ||||||
144A, 4.091%, 6/1/29 | 4,089,000 | 4,250,004 | ||||||
144A, 3.125%, 7/15/29 | �� | 2,804,000 | 2,692,499 | |||||
144A, 4.125%, 1/15/31 | 3,326,000 | 3,440,331 | ||||||
144A, 3.375%, 7/15/31 | 2,625,000 | 2,557,669 | ||||||
Tempo Acquisition LLC / Tempo Acquisition Finance Corp., 144A, | 8,240,000 | 8,466,600 |
See Notes to Financial Statements. | 52 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Computers (Continued) | ||||||||
Vericast Corp., 144A, | $ | 3,087,000 | $ | 3,114,011 | ||||
Western Digital Corp., | 15,102,000 | 16,725,465 | ||||||
|
| |||||||
(Cost $113,845,759) | 112,973,316 | |||||||
|
| |||||||
Office/Business Equipment — 0.4% | ||||||||
CDW LLC / CDW Finance Corp. | 3,692,000 | 4,081,967 | ||||||
4.125%, 5/1/25 | 3,888,000 | 4,018,248 | ||||||
4.25%, 4/1/28 | 3,683,000 | 3,824,004 | ||||||
3.25%, 2/15/29 | 4,822,000 | 4,750,876 | ||||||
Xerox Corp., | 6,601,000 | 6,897,352 | ||||||
Xerox Holdings Corp. | 5,094,000 | 5,386,905 | ||||||
144A, 5.50%, 8/15/28 | 4,769,000 | 5,094,000 | ||||||
|
| |||||||
(Cost $33,830,118) | 34,053,352 | |||||||
|
| |||||||
Semiconductors — 0.4% | ||||||||
ams AG, 144A, | 3,025,000 | 3,306,703 | ||||||
Microchip Technology, Inc., 144A, | 8,132,000 | 8,527,983 | ||||||
ON Semiconductor Corp., 144A, | 4,546,000 | 4,749,206 | ||||||
Qorvo, Inc. | 5,138,000 | 5,551,455 | ||||||
144A, 3.375%, 4/1/31 | 5,125,000 | 5,118,594 | ||||||
|
| |||||||
(Cost $27,097,906) | 27,253,941 | |||||||
|
| |||||||
Software — 1.9% | ||||||||
Black Knight InfoServ LLC, 144A, | 6,717,000 | 6,685,766 | ||||||
Boxer Parent Co., Inc., 144A, | 3,875,000 | 4,200,267 | ||||||
CDK Global, Inc. | 2,997,000 | 3,319,177 | ||||||
5.875%, 6/15/26 | 3,312,000 | 3,454,416 | ||||||
4.875%, 6/1/27 | 3,961,000 | 4,151,623 | ||||||
144A, 5.25%, 5/15/29 | 3,413,000 | 3,676,859 | ||||||
Change Healthcare Holdings LLC / Change Healthcare Finance, Inc., 144A, | 8,152,000 | 8,361,751 | ||||||
Dun & Bradstreet Corp. | 2,709,000 | 2,903,709 | ||||||
144A, 10.25%, 2/15/27 | 3,100,000 | 3,475,301 | ||||||
J2 Global, Inc., 144A, | 5,031,000 | 5,229,599 | ||||||
MSCI, Inc. | 3,284,000 | 3,390,730 | ||||||
144A, 5.375%, 5/15/27 | 3,101,000 | 3,310,318 | ||||||
144A, 4.00%, 11/15/29 | 6,821,000 | 7,241,787 | ||||||
144A, 3.625%, 9/1/30 | 2,929,000 | 3,058,169 | ||||||
144A, 3.875%, 2/15/31 | 6,266,000 | 6,587,133 | ||||||
Nuance Communications, Inc., | 3,301,000 | 3,463,987 |
Principal | Value | |||||||
Software (Continued) | ||||||||
Open Text Corp. | $ | 5,829,000 | $ | 6,029,372 | ||||
144A, 3.875%, 2/15/28 | 5,846,000 | 5,951,053 | ||||||
PTC, Inc. | 3,493,000 | 3,582,508 | ||||||
144A, 4.00%, 2/15/28 | 3,240,000 | 3,342,044 | ||||||
Rackspace Technology Global, Inc. 144A, 3.50%, 2/15/28 | 3,600,000 | 3,538,476 | ||||||
144A, 5.375%, 12/1/28 | 3,600,000 | 3,720,600 | ||||||
Solera LLC / Solera Finance, Inc., 144A, | 12,921,000 | 13,389,386 | ||||||
SS&C Technologies, Inc., 144A, | 13,369,000 | 14,175,151 | ||||||
Veritas US, Inc. / Veritas Bermuda Ltd. 144A, 10.50%, 2/1/24 (a) | 5,800,000 | 5,851,040 | ||||||
144A, 7.50%, 9/1/25 | 11,197,000 | 11,619,687 | ||||||
|
| |||||||
(Cost $143,197,982) | 143,709,909 | |||||||
|
| |||||||
Utilities — 2.7% | ||||||||
Electric — 2.5% | ||||||||
Calpine Corp. | 6,449,000 | 6,644,082 | ||||||
144A, 4.50%, 2/15/28 | 8,064,000 | 8,297,856 | ||||||
144A, 5.125%, 3/15/28 | 9,537,000 | 9,598,180 | ||||||
144A, 4.625%, 2/1/29 | 4,162,000 | 4,116,218 | ||||||
144A, 5.00%, 2/1/31 | 5,423,000 | 5,375,386 | ||||||
144A, 3.75%, 3/1/31 | 5,941,000 | 5,741,977 | ||||||
Clearway Energy Operating LLC | 4,000,000 | 4,189,700 | ||||||
144A, 4.75%, 3/15/28 | 5,320,000 | 5,690,751 | ||||||
DPL, Inc., 144A, | 2,780,000 | 2,978,075 | ||||||
FirstEnergy Corp. | 5,729,000 | 6,068,090 | ||||||
Series B, 4.40%, 7/15/27 | 9,887,000 | 10,888,355 | ||||||
2.65%, 3/1/30 | 4,038,000 | 3,968,584 | ||||||
Series B, 2.25%, 9/1/30 | 2,994,000 | 2,817,027 | ||||||
FirstEnergy Transmission LLC, 144A, | 3,766,000 | 4,086,706 | ||||||
NextEra Energy Operating Partners LP 144A, 4.25%, 7/15/24 | 5,412,000 | 5,729,955 | ||||||
144A, 3.875%, 10/15/26 | 3,292,000 | 3,528,580 | ||||||
144A, 4.50%, 9/15/27 | 3,126,000 | 3,500,182 | ||||||
NRG Energy, Inc. | 6,466,000 | 6,740,805 | ||||||
6.625%, 1/15/27 | 8,368,000 | 8,713,933 | ||||||
5.75%, 1/15/28 | 5,617,000 | 5,978,594 | ||||||
144A, 3.375%, 2/15/29 | 3,441,000 | 3,391,536 | ||||||
144A, 5.25%, 6/15/29 | 4,650,000 | 4,929,930 | ||||||
144A, 3.625%, 2/15/31 (a) | 6,852,000 | 6,701,427 | ||||||
PG&E Corp. | 6,601,000 | 6,948,048 | ||||||
5.25%, 7/1/30 | 6,764,000 | 7,243,906 | ||||||
Talen Energy Supply LLC | 3,560,000 | 3,121,675 | ||||||
144A, 10.50%, 1/15/26 | 3,948,000 | 3,819,690 | ||||||
144A, 7.25%, 5/15/27 | 5,317,000 | 5,578,543 |
See Notes to Financial Statements. | 53 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2021 (Unaudited)
Principal | Value | |||||||
Electric (Continued) | ||||||||
144A, 6.625%, 1/15/28 | $ | 3,038,000 | $ | 3,145,652 | ||||
144A, 7.625%, 6/1/28 | 2,921,000 | 3,115,027 | ||||||
TransAlta Corp., | 2,645,000 | 2,750,800 | ||||||
Vistra Operations Co. LLC | 6,657,000 | 6,914,959 | ||||||
144A, 5.625%, 2/15/27 | 8,073,000 | 8,478,345 | ||||||
144A, 5.00%, 7/31/27 | 8,481,000 | 8,883,848 | ||||||
|
| |||||||
(Cost $190,108,529) | 189,676,422 | |||||||
|
| |||||||
Gas — 0.2% | ||||||||
AmeriGas Partners LP / AmeriGas Finance Corp. | 4,672,000 | 5,181,528 | ||||||
5.50%, 5/20/25 | 4,690,000 | 5,157,734 | ||||||
5.875%, 8/20/26 | 4,316,000 | 4,876,281 | ||||||
5.75%, 5/20/27 | 3,538,000 | 3,996,189 | ||||||
|
| |||||||
(Cost $18,781,512) | 19,211,732 | |||||||
|
| |||||||
TOTAL CORPORATE BONDS | 7,530,078,491 | |||||||
|
|
Number | Value | |||||||
SECURITIES LENDING COLLATERAL — 2.5% | ||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (c)(d) (Cost $194,770,272) | 194,770,272 | $ | 194,770,272 | |||||
|
| |||||||
CASH EQUIVALENTS — 1.7% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (c) | 127,406,596 | 127,406,596 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 102.6% (Cost $7,762,129,675) | $ | 7,852,255,359 | ||||||
Other assets and liabilities, net — (2.6%) | (198,855,333 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 7,653,400,026 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2021 is as follows:
Value ($) at 8/31/2020 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2021 | Value ($) at 2/28/2021 | ||||||||||||||||||||||||||||
CORPORATE BONDS — 0.1% |
| |||||||||||||||||||||||||||||||||||
Financial — 0.1% |
| |||||||||||||||||||||||||||||||||||
Deutsche Bank AG, 3.729%, 1/14/32 (b) |
| |||||||||||||||||||||||||||||||||||
— | 8,227,635 | — | — | (92,305 | ) | 22,711 | — | 8,250,000 | 8,135,330 | |||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 2.5% |
| |||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (c)(d) |
| |||||||||||||||||||||||||||||||||||
134,912,900 | 59,857,372 | (e) | — | — | — | 18,257 | — | 194,770,272 | 194,770,272 | |||||||||||||||||||||||||||
CASH EQUIVALENTS —1.7% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (c) |
| |||||||||||||||||||||||||||||||||||
103,636,616 | 712,709,897 | (688,939,917 | ) | — | — | 8,873 | — | 127,406,596 | 127,406,596 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
238,549,516 | 780,794,904 | (688,939,917 | ) | — | (92,305 | ) | 49,841 | — | 330,426,868 | 330,312,198 | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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, 2021 amounted to $259,822,901, which is 3.4% of net assets. |
(b) | Affiliated issuer. This security is owned in proportion with its representation in the index. |
(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 $76,145,857. |
(e) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2021. |
GMTN: | Global Medium Term Note |
MTN: | Medium Term Note |
REGS: | Securities sold under Regulation S may not be offered, sold or delivered within the United States or to, or for the account or benefit of, U.S. persons, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933. |
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. | 54 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2021 (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, 2021 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 | ||||||||||||
Corporate Bonds (f) | $ | — | $ | 7,530,078,491 | $ | — | $ | 7,530,078,491 | ||||||||
Short-Term Investments (f) | 322,176,868 | — | — | 322,176,868 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 322,176,868 | $ | 7,530,078,491 | $ | — | $ | 7,852,255,359 | ||||||||
|
|
|
|
|
|
|
|
(f) | See Schedule of Investments for additional detailed categorizations. |
See Notes to Financial Statements. | 55 |
DBX ETF Trust
February 28, 2021 (Unaudited)
Xtrackers High Beta High Yield Bond ETF | Xtrackers Low Beta High Yield Bond ETF | Xtrackers Short Duration High Yield Bond ETF | Xtrackers USD High Yield Corporate Bond ETF | |||||||||||||
Assets | ||||||||||||||||
Investment in non-affiliated securities at value | $ | 9,392,598 | $ | 39,264,198 | $ | 37,985,298 | $ | 7,521,943,161 | ||||||||
Investment in affiliated securities at value | — | 83,819 | — | 8,135,330 | ||||||||||||
Investment in DWS Government Money Market Series | 173,789 | 1,060,830 | 3,035,662 | 127,406,596 | ||||||||||||
Investment in DWS Government & Agency Securities Portfolio* | 379,588 | 543,272 | 1,098,960 | 194,770,272 | ||||||||||||
Receivables: | ||||||||||||||||
Investment securities sold | 823,782 | 2,094,990 | 319,819 | 151,774,787 | ||||||||||||
Capital shares | — | — | — | 30,013,752 | ||||||||||||
Interest | 142,033 | 494,268 | 585,526 | 104,171,078 | ||||||||||||
Securities lending income | 184 | 97 | 596 | 79,208 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total assets | $ | 10,911,974 | $ | 43,541,474 | $ | 43,025,861 | $ | 8,138,294,184 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liabilities | ||||||||||||||||
Payable upon return of securities loaned | $ | 379,588 | $ | 543,272 | $ | 1,098,960 | $ | 194,770,272 | ||||||||
Payables: | ||||||||||||||||
Investment securities purchased | 909,995 | 2,618,418 | 1,414,343 | 269,285,000 | ||||||||||||
Capital shares | — | — | — | 19,966,138 | ||||||||||||
Investment advisory fees | 1,475 | 6,188 | 6,087 | 872,748 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total liabilities | 1,291,058 | 3,167,878 | 2,519,390 | 484,894,158 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Assets, at value | $ | 9,620,916 | $ | 40,373,596 | $ | 40,506,471 | $ | 7,653,400,026 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net Assets Consist of | ||||||||||||||||
Paid-in capital | $ | 19,939,002 | $ | 43,855,796 | $ | 39,115,529 | $ | 7,550,564,310 | ||||||||
Distributable earnings (loss) | (10,318,086 | ) | (3,482,200 | ) | 1,390,942 | 102,835,716 | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Assets, at value | $ | 9,620,916 | $ | 40,373,596 | $ | 40,506,471 | $ | 7,653,400,026 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Number of Common Shares outstanding | 200,001 | 800,001 | 850,001 | 153,350,001 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Asset Value | $ | 48.10 | $ | 50.47 | $ | 47.65 | $ | 49.91 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Investment in non-affiliated securities at cost | $ | 9,168,739 | $ | 38,632,186 | $ | 35,829,744 | $ | 7,431,725,172 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Investment in affiliated securities at cost | $ | — | $ | 84,716 | $ | — | $ | 8,227,635 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Value of securities loaned | $ | 655,794 | $ | 920,763 | $ | 1,332,296 | $ | 259,822,901 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Investment in DWS Government Money Market Series at cost | $ | 173,789 | $ | 1,060,830 | $ | 3,035,662 | $ | 127,406,596 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Investment in DWS Government & Agency Securities Portfolio at cost* | $ | 379,588 | $ | 543,272 | $ | 1,098,960 | $ | 194,770,272 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Non-cash collateral for securities on loan | $ | 302,993 | $ | 410,676 | $ | 286,817 | $ | 76,145,857 | ||||||||
|
|
|
|
|
|
|
|
* | Represents collateral on securities loaned. |
See Notes to Financial Statements. | 56 |
DBX ETF Trust
For the Six Months Ended February 28, 2021 (Unaudited)
Xtrackers High Beta High Yield Bond ETF | Xtrackers Low Beta High Yield Bond ETF | Xtrackers Short Duration High Yield Bond ETF | Xtrackers USD High Yield Corporate Bond ETF | |||||||||||||
Investment Income | ||||||||||||||||
Unaffiliated interest income | $ | 264,293 | $ | 711,865 | $ | 1,166,092 | $ | 162,957,671 | ||||||||
Affiliated interest income | — | 238 | — | 22,711 | ||||||||||||
Income distributions from affiliated funds | 22 | 78 | 203 | 8,873 | ||||||||||||
Affiliated securities lending income | 33 | 58 | 210 | 18,257 | ||||||||||||
Unaffiliated securities lending income, net of borrower rebates | 831 | 522 | 4,871 | 430,869 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total investment income | 265,179 | 712,761 | 1,171,376 | 163,438,381 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Expenses | ||||||||||||||||
Investment advisory fees | 14,835 | 47,679 | 38,764 | 6,976,432 | ||||||||||||
Other expenses | 401 | 401 | 57 | 4,166 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total expenses | 15,236 | 48,080 | 38,821 | 6,980,598 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Less fees waived (see note 3): | ||||||||||||||||
Waiver | (6,403 | ) | (9,724 | ) | (446 | ) | (1,764,190 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net expenses | 8,833 | 38,356 | 38,375 | 5,216,408 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net investment income (loss) | 256,346 | 674,405 | 1,133,001 | 158,221,973 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Realized and Unrealized Gain (Loss) | ||||||||||||||||
Net realized gain (loss) from: | ||||||||||||||||
Investments | 135,339 | 108,702 | 488,805 | 3,659,879 | ||||||||||||
In-kind redemptions | — | 254,331 | — | 113,632,899 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized gain (loss) | 135,339 | 363,033 | 488,805 | 117,292,778 | ||||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||
Investments | 219,453 | (220,375 | ) | 616,155 | 47,973,782 | |||||||||||
Investments in affiliates | — | (897 | ) | — | (92,305 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net change in unrealized appreciation (depreciation) | 219,453 | (221,272 | ) | 616,155 | 47,881,477 | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized and unrealized gain (loss) on investments | 354,792 | 141,761 | 1,104,960 | 165,174,255 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 611,138 | $ | 816,166 | $ | 2,237,961 | $ | 323,396,228 | ||||||||
|
|
|
|
|
|
|
|
See Notes to Financial Statements. | 57 |
DBX ETF Trust
Xtrackers High Beta High Yield Bond ETF | Xtrackers Low Beta High Yield Bond ETF | |||||||||||||||
For the Six Months Ended February 28, 2021 (Unaudited) | Year Ended August 31, 2020 | For the Six Months Ended February 28, 2021 (Unaudited) | Year Ended August 31, 2020 | |||||||||||||
Increase (Decrease) in Net Assets from Operations | ||||||||||||||||
Net investment income (loss) | $ | 256,346 | $ | 8,833,615 | $ | 674,405 | $ | 6,141,236 | ||||||||
Net realized gain (loss) | 135,339 | (8,560,108 | ) | 363,033 | 4,293,704 | |||||||||||
Net change in net unrealized appreciation (depreciation) | 219,453 | 2,181,907 | (221,272 | ) | (2,775,645 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from operations | 611,138 | 2,455,414 | 816,166 | 7,659,295 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Distributions to Shareholders | (339,634 | ) | (9,663,912 | ) | (841,682 | ) | (7,126,652 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Fund Shares Transactions | ||||||||||||||||
Proceeds from shares sold | 2,367,554 | — | 10,118,063 | 54,342,652 | ||||||||||||
Value of shares redeemed | — | (136,509,024 | ) | (7,592,660 | ) | (161,280,463 | ) | |||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from fund share transactions | 2,367,554 | (136,509,024 | ) | 2,525,403 | (106,937,811 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Total net increase (decrease) in Net Assets | 2,639,058 | (143,717,522 | ) | 2,499,887 | (106,405,168 | ) | ||||||||||
Net Assets | ||||||||||||||||
Beginning of period | 6,981,858 | 150,699,380 | 37,873,709 | 144,278,877 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
End of period | $ | 9,620,916 | $ | 6,981,858 | $ | 40,373,596 | $ | 37,873,709 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Changes in Shares Outstanding | ||||||||||||||||
Shares outstanding, beginning of period | 150,001 | 3,100,001 | 750,001 | 2,850,001 | ||||||||||||
Shares sold | 50,000 | — | 200,000 | 1,100,000 | ||||||||||||
Shares redeemed | — | (2,950,000 | ) | (150,000 | ) | (3,200,000 | ) | |||||||||
|
|
|
|
|
|
|
| |||||||||
Shares outstanding, end of period | 200,001 | 150,001 | 800,001 | 750,001 | ||||||||||||
|
|
|
|
|
|
|
|
See Notes to Financial Statements. | 58 |
DBX ETF Trust
Statements of Changes in Net Assets (Continued)
Xtrackers Short Duration High Yield Bond ETF | Xtrackers USD High Yield Corporate Bond ETF | |||||||||||||||
For the Six Months Ended February 28, 2021 (Unaudited) | Year Ended August 31, 2020 | For the Six Months Ended February 28, 2021 (Unaudited) | Year Ended August 31, 2020 | |||||||||||||
Increase (Decrease) in Net Assets from Operations | ||||||||||||||||
Net investment income (loss) | $ | 1,133,001 | $ | 2,503,717 | $ | 158,221,973 | $ | 225,278,292 | ||||||||
Net realized gain (loss) | 488,805 | 1,209,705 | 117,292,778 | (84,875,854 | ) | |||||||||||
Net change in net unrealized appreciation (depreciation) | 616,155 | 1,585,148 | 47,881,477 | 18,508,043 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from operations | 2,237,961 | 5,298,570 | 323,396,228 | 158,910,481 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Distributions to Shareholders | (1,278,584 | ) | (2,545,587 | ) | (167,344,293 | ) | (231,469,345 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Fund Shares Transactions | ||||||||||||||||
Proceeds from shares sold | 2,287,369 | 175,438,715 | 4,354,728,498 | 8,095,596,847 | ||||||||||||
Value of shares redeemed | — | (163,041,545 | ) | (3,065,930,898 | ) | (4,876,338,905 | ) | |||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from fund share transactions | 2,287,369 | 12,397,170 | 1,288,797,600 | 3,219,257,942 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total net increase (decrease) in Net Assets | 3,246,746 | 15,150,153 | 1,444,849,535 | 3,146,699,078 | ||||||||||||
Net Assets | ||||||||||||||||
Beginning of period | 37,259,725 | 22,109,572 | 6,208,550,491 | 3,061,851,413 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
End of period | $ | 40,506,471 | $ | 37,259,725 | $ | 7,653,400,026 | $ | 6,208,550,491 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Changes in Shares Outstanding | ||||||||||||||||
Shares outstanding, beginning of period | 800,001 | 450,001 | 127,150,001 | 60,950,001 | ||||||||||||
Shares sold | 50,000 | 4,100,000 | 88,750,000 | 169,850,000 | ||||||||||||
Shares redeemed | — | (3,750,000 | ) | (62,550,000 | ) | (103,650,000 | ) | |||||||||
|
|
|
|
|
|
|
| |||||||||
Shares outstanding, end of period | 850,001 | 800,001 | 153,350,001 | 127,150,001 | ||||||||||||
|
|
|
|
|
|
|
|
See Notes to Financial Statements. | 59 |
DBX ETF Trust
Xtrackers High Beta High Yield Bond ETF Selected Per Share Data | For the Six Months Ended 2/28/2021 (Unaudited) | Years Ended August 31, | Period Ended 8/31/2018(a) | |||||||||||||
2020 | 2019 | |||||||||||||||
Net Asset Value, beginning of period | $ | 46.55 | $ | 48.61 | $ | 49.17 | $ | 50.00 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Income (loss) from investment operations: | ||||||||||||||||
Net investment income (loss) (b) | 1.42 | 3.01 | (c) | 3.32 | 2.07 | |||||||||||
Net realized and unrealized gain (loss) | 2.01 | (1.95 | )(c) | (0.58 | ) | (1.11 | ) | |||||||||
|
|
|
|
|
|
|
| |||||||||
Total from investment operations | 3.43 | 1.06 | 2.74 | 0.96 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Less distributions from: |
| |||||||||||||||
Net investment income | (1.88 | ) | (3.12 | ) | (3.30 | ) | (1.79 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total distributions | (1.88 | ) | (3.12 | ) | (3.30 | ) | (1.79 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net Asset Value, end of period | $ | 48.10 | $ | 46.55 | $ | 48.61 | $ | 49.17 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Return (%) | 7.53 | **(d) | 2.46 | (d) | 5.90 | (d) | 2.01 | ** | ||||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||||||
Net Assets, end of period ($ millions) | 10 | 7 | 151 | 148 | ||||||||||||
Ratio of expenses before fee waiver (%) | 0.35 | * | 0.35 | 0.35 | 0.35 | * | ||||||||||
Ratio of expenses after fee waiver (%) | 0.20 | * | 0.20 | 0.31 | 0.35 | * | ||||||||||
Ratio of net investment income (loss) (%) | 6.05 | * | 6.50 | (c) | 6.91 | 6.71 | * | |||||||||
Portfolio turnover rate (%) (e) | 42 | ** | 98 | 51 | 34 | ** | ||||||||||
Xtrackers Low Beta High Yield Bond ETF Selected Per Share Data | For the Six Months Ended 2/28/2021 (Unaudited) | Years Ended August 31, | Period Ended 8/31/2018(a) | |||||||||||||
2020 | 2019 | |||||||||||||||
Net Asset Value, beginning of period | $ | 50.50 | $ | 50.62 | $ | 49.16 | $ | 50.00 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Income (loss) from investment operations: | ||||||||||||||||
Net investment income (loss) (b) | 0.88 | 2.02 | (c) | 2.29 | 1.37 | |||||||||||
Net realized and unrealized gain (loss) | 0.21 | 0.12 | (c) | 1.44 | (1.05 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Total from investment operations | 1.09 | 2.14 | 3.73 | 0.32 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Less distributions from: |
| |||||||||||||||
Net investment income | (1.12 | ) | (2.26 | ) | (2.27 | ) | (1.16 | ) | ||||||||
|
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| |||||||||
Total distributions | (1.12 | ) | (2.26 | ) | (2.27 | ) | (1.16 | ) | ||||||||
|
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|
|
| |||||||||
Net Asset Value, end of period | $ | 50.47 | $ | 50.50 | $ | 50.62 | $ | 49.16 | ||||||||
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| |||||||||
Total Return (%) | 2.19 | **(d) | 4.42 | (d) | 7.84 | (d) | 0.68 | ** | ||||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||||||
Net Assets, end of period ($ millions) | 40 | 38 | 144 | 138 | ||||||||||||
Ratio of expenses before fee waiver (%) | 0.25 | * | 0.25 | 0.25 | 0.25 | * | ||||||||||
Ratio of expenses after fee waiver (%) | 0.20 | * | 0.20 | 0.24 | 0.25 | * | ||||||||||
Ratio of net investment income (loss) (%) | 3.54 | * | 4.09 | (c) | 4.66 | 4.44 | * | |||||||||
Portfolio turnover rate (%) (e) | 37 | ** | 111 | 55 | 52 | ** |
(a) | For the period January 11, 2018 (commencement of operations) through August 31, 2018. |
(b) | Based on average shares outstanding during the period. |
(c) | The Financial Accounting Standards Board issued Accounting Standards Update (ASU) 2017-08 to amend the amortization period to the earliest call date for purchased callable debt securities held at a premium. Effective September 1, 2019, the Fund adopted ASU 2017-08 and the effect of this change for the year ended August 31, 2020 was a decrease to net investment income per share by $0.04 and $0.23, increase to net realized and unrealized gain (loss) from investments per share by $0.04 and $0.23, and decrease to the ratio of net investment income to average net assets of 0.08% and 0.47%, for Xtrackers High Beta High Yield Bond ETF and Xtrackers Low Beta High Yield Bond ETF respectively. Per share data and ratios for years prior to August 31, 2020 have not been restated to reflect this change in presentation. |
(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. |
* | Annualized. |
** | Not Annualized. |
See Notes to Financial Statements. | 60 |
DBX ETF Trust
Financial Highlights (Continued)
Xtrackers Short Duration High Yield Bond ETF Selected Per Share Data | For the Six Months Ended 2/28/2021 (Unaudited) | Years Ended August 31, | Period Ended 8/31/2018(a) | |||||||||||||
2020 | 2019 | |||||||||||||||
Net Asset Value, beginning of period | $ | 46.57 | $ | 49.13 | $ | 49.69 | $ | 50.00 | ||||||||
|
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|
|
|
| |||||||||
Income (loss) from investment operations: | ||||||||||||||||
Net investment income (loss) (b) | 1.36 | 2.69 | (c) | 2.83 | 1.76 | |||||||||||
Net realized and unrealized gain (loss) | 1.27 | (2.47 | )(c)(d) | (0.54 | ) | (0.59 | ) | |||||||||
|
|
|
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|
|
|
| |||||||||
Total from investment operations | 2.63 | 0.22 | 2.29 | 1.17 | ||||||||||||
|
|
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|
|
|
|
| |||||||||
Less distributions from: |
| |||||||||||||||
Net investment income | (1.55 | ) | (2.78 | ) | (2.85 | ) | (1.48 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total distributions | (1.55 | ) | (2.78 | ) | (2.85 | ) | (1.48 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net Asset Value, end of period | $ | 47.65 | $ | 46.57 | $ | 49.13 | $ | 49.69 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Return (%) | 5.76 | **(e) | 0.61 | (e) | 4.79 | (e) | 2.41 | ** | ||||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||||||
Net Assets, end of period ($ millions) | 41 | 37 | 22 | 40 | ||||||||||||
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) (%) | 5.85 | * | 6.13 | (c) | 5.78 | 5.56 | * | |||||||||
Portfolio turnover rate (%) (f) | 22 | ** | 150 | 45 | 37 | ** |
Xtrackers USD High Yield Corporate Bond ETF Selected Per Share Data | For the Six Months Ended 2/28/2021 (Unaudited) | Years Ended August 31, | Period Ended 8/31/2017(g) | |||||||||||||||||
2020 | 2019 | 2018 | ||||||||||||||||||
Net Asset Value, beginning of period | $ | 48.83 | $ | 50.24 | $ | 49.88 | $ | 51.21 | $ | 50.00 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||
Net investment income (loss) (b) | 1.11 | 2.54 | (c) | 2.98 | 2.89 | 2.07 | ||||||||||||||
Net realized and unrealized gain (loss) | 1.19 | (1.19 | )(c) | 0.30 | (1.53 | ) | 1.11 | |||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total from investment operations | 2.30 | 1.35 | 3.28 | 1.36 | 3.18 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Less distributions from: |
| |||||||||||||||||||
Net investment income | (1.22 | ) | (2.76 | ) | (2.92 | ) | (2.69 | ) | (1.97 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total distributions | (1.22 | ) | (2.76 | ) | (2.92 | ) | (2.69 | ) | (1.97 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net Asset Value, end of period | $ | 49.91 | $ | 48.83 | $ | 50.24 | $ | 49.88 | $ | 51.21 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total Return (%) | 4.79 | **(e) | 2.91 | (e) | 6.87 | (e) | 2.76 | (e) | 6.43 | ** | ||||||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||||||||||
Net Assets, end of period ($ millions) | 7,653 | 6,209 | 3,062 | 1,796 | 220 | |||||||||||||||
Ratio of expenses before fee waiver (%) | 0.20 | * | 0.20 | 0.20 | 0.20 | 0.25 | * | |||||||||||||
Ratio of expenses after fee waiver (%) | 0.15 | * | 0.15 | 0.17 | 0.20 | 0.25 | * | |||||||||||||
Ratio of net investment income (loss) (%) | 4.54 | * | 5.27 | (c) | 6.06 | 5.86 | 5.57 | * | ||||||||||||
Portfolio turnover rate (%) (f) | 18 | ** | 54 | 29 | 32 | 36 | ** |
(a) | For the period January 10, 2018 (commencement of operations) through August 31, 2018. |
(b) | Based on average shares outstanding during the period. |
(c) | The Financial Accounting Standards Board issued Accounting Standards Update (ASU) 2017-08 to amend the amortization period to the earliest call date for purchased callable debt securities held at a premium. Effective September 1, 2019, the Fund adopted ASU 2017-08 and the effect of this change for the year ended August 31, 2020 was a decrease to net investment income per share by $0.10 and $0.15, increase to net realized and unrealized gain (loss) from investments per share by $0.10 and $0.15, and decrease to the ratio of net investment income to average net assets of 0.22% and 0.32%, for Xtrackers Short Duration High Yield Bond ETF and Xtrackers USD High Yield Corporate Bond ETF respectively. Per share data and ratios for years prior to August 31, 2020 have not been restated to reflect this change in presentation. |
(d) | Because of the timing of subscriptions and redemptions in relation to fluctuating markets at value, the amount shown may not agree with the change in aggregate gains and losses. |
(e) | Total Return would have been lower if certain expenses had not been reimbursed by the Advisor. |
(f) | Portfolio turnover rate does not include securities received or delivered from processing creations or redemptions. |
(g) | For the period December 7, 2016 (commencement of operations) through August 31, 2017. |
* | Annualized. |
** | Not Annualized. |
See Notes to Financial Statements. | 61 |
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, 2021, the Trust consists of thirty-five 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, each a diversified series of the Trust:
Xtrackers High Beta High Yield Bond ETF |
Xtrackers Low Beta High Yield Bond ETF |
Xtrackers Short Duration High Yield Bond ETF |
Xtrackers USD High Yield Corporate Bond 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 High Beta High Yield Bond ETF | Solactive USD High Yield Corporates Total Market High Beta Index | |
Xtrackers Low Beta High Yield Bond ETF | Solactive USD High Yield Corporates Total Market Low Beta Index | |
Xtrackers Short Duration High Yield Bond ETF | Solactive USD High Yield Corporates Total Market 0-5 Year Index | |
Xtrackers USD High Yield Corporate Bond ETF | Solactive USD High Yield Corporates Total Market Index |
The Solactive USD High Yield Corporates Total Market High Beta Index is designed to track the performance of the segment of the U.S. dollar denominated high yield corporate bond market that exhibits higher overall beta to the broader high yield corporate fixed income market. The Solactive USD High Yield Corporates Total Market Low Beta Index is designed to track the performance of the segment of the U.S. dollar-denominated high yield corporate bond market that exhibits lower overall beta to the broader high yield corporate fixed income market. The Solactive USD High Yield Corporates Total Market 0-5 Year Index is designed to track the performance of short-term publicly issued U.S. dollar-denominated below investment grade corporate debt. The Solactive USD High Yield Corporates Total Market Index is designed to track the performance of a basket of U.S. dollar-denominated high yield liquid corporate bonds. Under normal circumstances, the Solactive Indexes are reconstituted monthly on the last day of each month. The Funds reconstitute and rebalance their portfolios in accordance with their respective underlying indexes, and therefore any changes to the underlying indexes reconstitution and rebalance schedules will result in corresponding changes to a Fund’s reconstitution and 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.
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.
62
DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
2. Significant Accounting Policies
The financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”), which require management to make certain estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. Each Fund qualifies as an investment company under Topic 946 of the Accounting Standards Codification of U.S. GAAP. The following is a summary of significant accounting policies followed by the Funds.
Security Valuation The NAV of each Fund’s shares is calculated each business day as of the close of regular trading on the New York Stock Exchange, generally 4:00 p.m. Eastern Time. NAV per share is calculated by dividing a Fund’s net assets by the number of Fund shares outstanding.
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.
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.
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. 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. ETFs are generally categorized as Level 1.
Investments in open-end investment companies are valued at their NAV each business day and are categorized as Level 1.
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; length of time of a halt in trading of the security; movement in the security’s proxy index; 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
63
DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
are calculated on the identified cost-method. Interest income is recorded on the accrual basis. All premiums and discounts are amortized/accreted for both tax and financial reporting purposes.
Tax Information and Dividends and Distributions to Shareholders It is each Fund’s policy to comply with all requirements of the Internal Revenue Code of 1986, as amended (“the Code”). Each Fund intends to qualify for and to elect treatment as a separate Regulated Investment Company (“RIC”) under Subchapter M of the Code. It is the policy of each Fund to pay out dividends from its net investment income, if any, to investors monthly. 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, 2021, the Funds did not incur any interest or penalties.
At August 31, 2020, 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 High Beta High Yield Bond ETF | $ | 2,922,464 | $ | 7,877,098 | $ | 10,799,562 | ||||||
Xtrackers Low Beta High Yield Bond ETF | 3,515,042 | 1,017,578 | 4,532,620 | |||||||||
Xtrackers Short Duration High Yield Bond ETF | 629,788 | 721,832 | 1,351,620 | |||||||||
Xtrackers USD High Yield Corporate Bond ETF | 37,668,804 | 55,540,272 | 93,209,076 |
As of August 31, 2020, 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 High Beta High Yield Bond ETF | $ | 7,364,887 | $ | (12,157 | ) | $ | 259,804 | $ | (271,961 | ) | ||||||
Xtrackers Low Beta High Yield Bond ETF | 38,358,013 | 772,850 | 855,430 | (82,580 | ) | |||||||||||
Xtrackers Short Duration High Yield Bond ETF | 38,030,279 | 1,494,843 | 1,731,280 | (236,437 | ) | |||||||||||
Xtrackers USD High Yield Corporate Bond ETF | 6,332,695,272 | 16,228,962 | 104,583,711 | (88,354,749 | ) |
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
64
DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
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, and foreign taxes on capital gains from sales of investments and foreign currency transactions are included in their respective net realized gain (loss) categories. Receivables and payables related to foreign taxes as of February 28, 2021, 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, 2021, 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 (0.04% annualized effective rate as of February 28, 2021) 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.
65
DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
As of February 28, 2021, 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 High Beta High Yield Bond ETF | ||||||||||||||||||||
Corporate Bonds | $ | 379,588 | $ | 2,370 | $ | 58,250 | $ | 242,373 | $ | 682,581 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
| $ | 682,581 | |||||||||||||||||
Xtrackers Low Beta High Yield Bond ETF | ||||||||||||||||||||
Corporate Bonds | $ | 543,272 | $ | 3,169 | $ | 77,894 | $ | 329,613 | $ | 953,948 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
| $ | 953,948 | |||||||||||||||||
Xtrackers Short Duration High Yield Bond ETF | ||||||||||||||||||||
Corporate Bonds | $ | 1,098,960 | $ | 2,466 | $ | 60,634 | $ | 223,717 | $ | 1,385,777 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
| $ | 1,385,777 | |||||||||||||||||
Xtrackers USD High Yield Corporate Bond ETF | ||||||||||||||||||||
Corporate Bonds | $ | 194,770,272 | $ | 606,331 | $ | 14,944,989 | $ | 60,594,537 | $ | 270,916,129 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
| $ | 270,916,129 |
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 High Beta High Yield Bond ETF | 0.35 | % | ||
Xtrackers Low Beta High Yield Bond ETF | 0.25 | % | ||
Xtrackers Short Duration High Yield Bond ETF | 0.20 | % | ||
Xtrackers USD High Yield Corporate Bond ETF | 0.20 | % |
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Notes to Financial Statements (Unaudited) (Continued)
The Advisor for Xtrackers High Beta High Yield Bond ETF has contractually agreed, until December 17, 2021, to waive a portion of its unitary advisory fee to the extent necessary to prevent the operating expenses (except for interest expense, taxes, brokerage expenses, distribution fees or expenses, litigation expenses and other extraordinary expenses) of the fund from exceeding 0.20% of the Fund’s average daily net assets. For the period ended February 28, 2021, the Advisor waived $6,358 of expenses to the Fund.
The Advisor for Xtrackers Low Beta High Yield Bond ETF has contractually agreed, until December 17, 2021, to waive a portion of its unitary advisory fee to the extent necessary to prevent the operating expenses (except for interest expense, taxes, brokerage expenses, distribution fees or expenses, litigation expenses and other extraordinary expenses) of the fund from exceeding 0.20% of the Fund’s average daily net assets. For the period ended February 28, 2021, the Advisor waived $9,536 of expenses to the Fund.
The Advisor for Xtrackers USD High Yield Corporate Bond ETF has contractually agreed, until December 17, 2021, to waive a portion of its unitary advisory fee to the extent necessary to prevent the operating expenses (except for interest expense, taxes, brokerage expenses, distribution fees or expenses, litigation expenses and other extraordinary expenses) of the fund from exceeding 0.15% of the Fund’s average daily net assets. For the period ended February 28, 2021, the Advisor waived $1,744,108 of expenses to the Fund.
The Advisor for the Funds below has contractually agreed to waive a portion of its unitary advisory fee in an amount equal to the acquired fund’s fees and expenses attributable to the Funds’ investments in affiliated Funds. For the period ended February 28, 2021, the Advisor waived expenses of the Funds as follows:
Expenses Waived | ||||
Xtrackers High Beta High Yield Bond ETF | $ | 45 | ||
Xtrackers Low Beta High Yield Bond ETF | 188 | |||
Xtrackers Short Duration High Yield Bond ETF | 446 | |||
Xtrackers USD High Yield Corporate Bond ETF | 20,082 |
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 the 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, 2021, 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 High Beta High Yield Bond ETF | $ | 3,462,787 | $ | 3,403,189 | ||||
Xtrackers Low Beta High Yield Bond ETF | 14,350,270 | 14,048,132 | ||||||
Xtrackers Short Duration High Yield Bond ETF | 8,285,782 | 9,495,230 | ||||||
Xtrackers USD High Yield Corporate Bond ETF | 1,244,104,958 | 1,214,351,293 |
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Notes to Financial Statements (Unaudited) (Continued)
For the period ended February 28, 2021, the cost of in-kind purchases and proceeds from in-kind sales were as follows:
Purchases | Sales | |||||||
Xtrackers High Beta High Yield Bond ETF | $ | 2,303,126 | $ | — | ||||
Xtrackers Low Beta High Yield Bond ETF | 9,248,372 | 7,555,763 | ||||||
Xtrackers Short Duration High Yield Bond ETF | 2,230,482 | — | ||||||
Xtrackers USD High Yield Corporate Bond ETF | 4,263,422,306 | 3,008,902,090 |
Transactions with Affiliates. The Funds may purchase securities from, or sell securities to, an affiliated fund provided the affiliation is solely due to having a common investment advisor, common officers, or common trustees. During the period ended February 28, 2021, the Funds engaged in securities purchases and securities sales with an affiliated fund in compliance with Rule 17a-7 under the 1940 Act as follows:
Securities Purchased | Securities Sold | Net Realized Gain (Loss) on Securities Sold | ||||||||||
Xtrackers High Beta High Yield Bond ETF | $ | 1,684,473 | $ | 2,029,021 | $ | 124,549 | ||||||
Xtrackers Low Beta High Yield Bond ETF | 2,373,876 | 1,756,092 | (2,509 | ) | ||||||||
Xtrackers Short Duration High Yield Bond ETF | 204,875 | — | — | |||||||||
Xtrackers USD High Yield Corporate Bond ETF | 112,156 | 703,353 | (9,628 | ) |
5. Fund Share Transactions
As of February 28, 2021, there were unlimited Fund shares, no par value, authorized by the Trust. Fund shares are issued and redeemed by each Fund only in Creation Units or multiples thereof. Except when aggregated in Creation Units, shares of each Fund are not redeemable. Transactions in capital shares for each Fund are disclosed in detail in the Statements of Changes in Net Assets. The consideration for the purchase of Creation Units of a Fund generally consists of the in-kind contribution of a designated portfolio of securities constituting a portfolio sampling representation of the securities included in the respective Fund’s Underlying Index and an amount of cash, which under certain circumstances may include cash in lieu of portfolio securities. Investors purchasing and redeeming Creation Units pay a purchase transaction fee and a redemption transaction fee to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units.
6. Investing in High-Yield Debt Securities
High-yield debt securities or junk bonds are generally regarded as speculative with respect to the issuer’s continuing ability to meet principal and interest payments. A Fund’s performance could be hurt if an issuer of a debt security suffers an adverse change in financial condition that results in the issuer not making timely payments of interest or principal, a security downgrade or an inability to meet a financial obligation. High-yield debt securities’ total return and yield may generally be expected to fluctuate more than the total return and yield of investment-grade debt securities. A real or perceived economic downturn or an increase in market interest rates could cause a decline in the value of high-yield debt securities, result in increased redemptions and/or result in increased portfolio turnover, which could result in a decline in NAV of a Fund, reduce liquidity for certain investments and/or increase costs. High-yield debt securities are often thinly traded and can be more difficult to sell and value accurately than investment-grade debt securities as there may be no established secondary market. Investments in high-yield debt securities could increase liquidity risk for a Fund. In addition, the market for high-yield debt securities can experience sudden and sharp volatility which is generally associated more with investments in stocks.
7. Line of Credit
The Trust has entered into a senior unsecured credit facility with a syndication of banks which allows the Xtrackers USD High Yield Corporate Bond ETF and certain other funds managed by the Advisor to borrow up to $105 million. The Fund 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 the Fund’s status as a regulated
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Notes to Financial Statements (Unaudited) (Continued)
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. The 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 Fund had no outstanding loans at February 28, 2021.
8. 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 and increased government activity. Specifically, COVID-19 has led to significant death and morbidity, and concerns about its further spread have resulted in the closing of schools and non-essential businesses, cancellations, shelter-in place orders, lower consumer spending in certain sectors, social distancing, bans on large social gatherings and travel, quarantines, government economic stimulus measures, reduced productivity, rapid increases in unemployment, increased demand for and strain on government and medical resources, border closings and global trade and supply chain interruptions, among others. 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. The pandemic may 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. A Fund and its investments may be adversely affected by the effects of the COVID-19 pandemic, and a prolonged pandemic may result in a Fund and its 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 each Fund and reflect the consequences as appropriate in each Fund’s accounting and financial reporting.
9. Subsequent Event
On March 15, 2021, the Board of Trustees (“Board”) for Xtrackers USD High Yield Corporate Bond ETF (“Fund”) approved a 5-for-4 forward split of the Fund’s outstanding shares. After the close of the markets on April 13, 2021, the Fund effected a split of its outstanding shares to shareholders of record as of the close of business on April 12, 2021 (“Record Date”) resulting in shareholders of the Fund receiving five shares for every four shares held as of the Record Date. Shares of the Fund began trading on a split-adjusted basis on April 14, 2021 (“Ex-Date”). On the Ex-Date, the per share net asset value and opening market price decreased, while the number of shares outstanding increased proportionately, resulting in no change in the overall value of the Fund’s outstanding shares or a shareholder’s investment value. The share split did not result in a taxable transaction for shareholders. In addition, the Board approved a Creation Unit size change from 50,000 shares to 100,000 shares, effective April 14, 2021.
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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.
In February 2021, 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, 2019 through November 30, 2020 (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 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.
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DBX ETF Trust
Xtrackers High Beta High Yield Bond ETF, Xtrackers Low Beta High Yield Bond ETF, Xtrackers Short Duration High Yield Bond ETF, and Xtrackers USD High Yield Corporate Bond 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 17-18, 2021 (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 High Beta High Yield Bond ETF, Xtrackers Low Beta High Yield Bond ETF, Xtrackers Short Duration High Yield Bond ETF, and Xtrackers USD High Yield Corporate Bond 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 17 and February 18, 2021. 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 Dechert LLP (“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.
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.
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Contracts (Unaudited) (Continued)
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 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. 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.
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 fallout benefits likely to accrue to the Advisor related to the operation of the Funds.
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Contracts (Unaudited) (Continued)
Economies of Scale. The Board considered that certain Funds had attracted a substantial amount of assets, but determined that those Funds were not experiencing economies of scale beyond what was reflected in each Fund’s unitary fee, which the Board noted was very competitive. The Board considered that the other Funds were not experiencing economies of scale at this time and determined to revisit this matter after the Funds had attracted more assets.
Given all the information available to it and considering all material factors, the Board concluded that the Investment Advisory Agreement was fair and reasonable and it was unanimously approved.
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Proxy Voting Policies and Procedures
The Funds’ policies and procedures for voting proxies for portfolio securities and information about how each Fund voted proxies related to its portfolio securities during the most recent 12-month period ended June 30 are available on our Web site — www.Xtrackers.com (click on “Resources” and “Proxy Voting” at the top of the page) — or on the SEC’s Web site — www.sec.gov. To obtain a written copy of the Funds’ policies and procedures without charge, upon request, call us toll free at 855-329-3837.
Portfolio Holdings Information
The Funds are required to file their complete schedule of portfolio holdings with the SEC for their first and third fiscal quarters on Form N-PORT. Copies of the filings are available without charge, upon request on the SEC’s website at www.sec.gov and are available by calling the Trust at 855-329-3837.
Information about each Fund’s portfolio holdings is available daily at www.Xtrackers.com.
Discount/Premium Information
Information regarding how often shares of each Fund traded on NYSE Arca or Cboe, as applicable, 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.
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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. Bond investments are subject to interest rate, credit, liquidity and market risks to varying degrees. When interest rates rise, bond prices generally fall. Foreign investing involves greater and different risks than investing in U.S. companies, including currency fluctuations, less liquidity, less developed or less efficient trading markets, lack of comprehensive company information, political instability and differing auditing and legal standards. Investing in a single industry, or group of industries, country or in a limited geographic region generally are more volatile than more diversified funds. Investments in lower-quality (“junk bonds”) and non-rated securities present greater risk of loss than investments in higher-quality securities. Distressed securities are speculative and involve substantial risks beyond the risks of investing in junk bonds, such as no interest payments or repayment of principal, or the loss of the entire investment in the distressed security. Credit risk refers to the ability of an issuer to make timely payments of principal and interest. Investing in derivatives entails special risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility. Performance of the Funds may diverge from that of the Underlying Index due to operating expenses, transaction costs, cash flows, use of sampling strategies or operational inefficiencies. An investment in these Funds should be considered only as a supplement to a complete investment program for those investors willing to accept the risks associated with the Funds. Please read the prospectus for more information.
War, terrorism, economic uncertainty, trade disputes, public health crises (including the recent pandemic spread of the novel coronavirus) and related geopolitical events could lead to increased market volatility, disruption to U.S. and world economies and markets and may have significant adverse effects on the Funds and their investments.
Shares of the Funds are bought and sold at market price (not NAV) throughout the day on the NYSE Arca, Inc. or Cboe BZX Exchange, Inc., as applicable. 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.
HYUP, HYDW, SHYL and HYLB (the “Funds”) are 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 Funds or any member of the public regarding advisability of investing in funds generally or in these Funds 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 © 2021 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 5 Times Square New York, NY 10036 | Legal counsel Dechert LLP 1095 Avenue of the Americas New York, NY 10036 |
R-050032-5 (4/21) DBX004831 (4/22)
Item 2. | Code of Ethics. |
Not applicable.
Item 3. | Audit Committee Financial Expert. |
Not applicable.
Item 4. | Principal Accountant Fees and Services. |
Not applicable.
Item 5. | Audit Committee of Listed Registrants. |
Not applicable.
Item 6. | Investments. |
(a) | Schedule of Investments in securities of unaffiliated issuers as of the close of the reporting period is included as part of the report to shareholders filed under Item 1(a) of this form. |
(b) | Not applicable. |
Item 7. | Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies. |
Not applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9. | Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers. |
Not applicable.
Item 10. | Submission of Matters to a Vote of Security Holders. |
There were no material changes to the procedures by which shareholders may recommend nominees to the Registrant’s Board of Trustees.
Item 11. | Controls and Procedures. |
(a) | The Chief Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on the evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report. |
(b) | There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d))) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 12. | Disclosure of Securities Lending Activities for Closed-End Management Investment Companies. |
Not applicable.
Item 13. | Exhibits. |
(a)(1) | Not applicable. |
(a)(2) |
(a)(3) | Not applicable. |
(a)(4) | Not applicable. |
(b) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) DBX ETF Trust | ||
By (Signature and Title) | /s/ Freddi Klassen | |
Freddi Klassen | ||
President and Chief Executive Officer | ||
Date May 5, 2021 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title) | /s/ Freddi Klassen | |
Freddi Klassen | ||
President and Chief Executive Officer | ||
Date May 5, 2021 | ||
By (Signature and Title) | /s/ Diane Kenneally | |
Diane Kenneally | ||
Treasurer and Chief Financial Officer | ||
Date May 5, 2021 |