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, 2022
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) | The Report to Shareholders is attached herewith. |
February 28, 2022
Semi-Annual Report
DBX ETF Trust
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (EMCR)
Xtrackers MSCI EAFE ESG Leaders Equity ETF (EASG)
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (EMSG)
Xtrackers MSCI USA ESG Leaders Equity ETF (USSG)
Xtrackers S&P 500 ESG ETF (SNPE)
Xtrackers S&P MidCap 400 ESG ETF (MIDE)
Xtrackers S&P SmallCap 600 ESG ETF (SMLE)
DBX ETF Trust
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Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | 3 | |||
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Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | 11 | |||
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Board Consideration in Approval of Investment Advisory Contracts | 84 | |||
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To our Shareholders: (Unaudited)
Dear Shareholder,
We are pleased to provide this semiannual report for seven of our equity ETFs tracking the environmental, social, and governance (ESG) market for the period ended February 28, 2022.
The recovery in global economy during the second half of 2021 was stalled by the emergence of the highly infectious Omicron variant of the coronavirus, which led to a spike in equity market volatility. To tackle the spread of the virus, countries had to restrict movements through different lockdown measures and expedite their vaccination programs. The services sector was heavily impacted, slowing the positive momentum it had gained in the past months, while global manufacturing sentiment remained upbeat. However, global equity markets started 2022 on a rough note as central banks shifted to a more hawkish stance in the face of rising inflation, with the U.S. Federal Reserve emphasizing multiple rate hikes this year and mentioning the possibility of shrinking its balance sheet as a next step. The European Central Bank maintained its accommodative stance initially, but pivoted to a more hawkish tone lately, stating rate hikes this year could not be ruled out. Meanwhile, the Bank of England became the only developed-economy central bank to make rate hikes. The geopolitical turmoil due to Russia’s invasion of Ukraine and retaliatory sanctions by the western countries further dented investor risk appetite.
ESG-focused funds continued to gain, while carbon- and water-focused themes were seen as a huge draw for investors. Global sustainable fund assets expanded in 4Q 2021, as investors poured in USD142bn. Europe accounted for the lion’s share of this increased inflow, while the U.S. still lagged behind its developed contemporaries. In the U.S., the Biden administration continued its ESG initiatives from 2021 policy actions, which started showing visible results. The Department of Labor proposed rules to permit fiduciaries of retirement plans to make allowances on ESG matters in their investment decision-making. The U.S. Securities and Exchange Commission’s (SEC’s) semiannual regulatory agenda published in December 2021 included disclosure requirements on climate change, human capital management, and corporate board diversity. The SEC also considered policies on cybersecurity governance, strategy, and risk management.
The UK introduced a series of ESG-related rules and regulations. All companies are currently required to include climate-related disclosures on a “comply or explain” basis. In the EU, the sustainable finance disclosure regulation hastened the mainstreaming of ESG more than any other catalysts in the past year, designating funds that promote ESG characteristics along with a sustainable investment objective. The EU started its implementation of the EU Taxonomy Regulation, which covers environmentally sustainable economic activities. Once it is fully implemented, it will cover 80% of all greenhouse gas emissions in the EU. European authorities drafted a new Corporate Sustainability Reporting Directive (CSRD), which emphasizes “double materiality,” requiring companies to detail both their environmental impact and climate-related risks. Meanwhile, China furthered its commitment to carbon emissions reduction, pledged in October before the UN Climate Change Conference (COP26), announcing it would reach peak carbon emissions before 2030 and achieve neutrality before 2060.
We believe 2022 will be viewed as a year of transition as the global economy, along with the investment environment, evolves in search of a new normal. Geopolitical pressures, coupled with disparities in central bank policies across different regions, are expected to impact investment decisions. On one hand, the economic effects of the war between Russia and Ukraine and other supporting nations need to be monitored. On the other, we believe high inflation signals a readjustment to demand supply-mismatches and labor markets. However, ESG-focused funds should continue to attract investors’ interest, and from a strategic perspective, we believe, actively managing asset allocation around this near-term geopolitical headwind will be vital.
1
Our team appreciates your trust and looks forward to serving your investment needs through innovative index-driven strategies.
Sincerely,
/s/ Freddi Klassen
Freddi Klassen
President and Chief Executive Officer
Assumptions, estimates and opinions contained in this document constitute our judgment as of the date of the document and are subject to change without notice. Any projections are based on a number of assumptions as to market conditions and there can be no guarantee that any projected results will be achieved. Past performance is not a guarantee of future results.
2
DBX ETF Trust
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (EMCR)
The Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the Solactive ISS Emerging Markets Carbon Reduction & Climate Improvers Index NTR (the “Underlying Index”). The Underlying Index is comprised of large and mid-capitalization companies in emerging markets countries that meet certain environmental, social and governance (“ESG”) criteria and/or have committed to greenhouse gas emissions reduction targets. The Underlying Index is then weighted in such a manner seeking to align its constituent companies’ greenhouse gas emissions with the long-term global warming target of the Paris Climate Agreement. It is not possible to invest directly into an index.
Ten Largest Equity Holdings as of February 28, 2022 (28.6% of Net Assets) |
Description | % of Net Assets | |||
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) | 9.5% | |||
Tencent Holdings Ltd. (China) | 6.6% | |||
Samsung Electronics Co. Ltd. (South Korea) | 4.0% | |||
Alibaba Group Holding Ltd. (China) | 2.4% | |||
Infosys Ltd. (India) | 1.5% | |||
China Construction Bank Corp. (China) | 1.4% | |||
Meituan (China) | 1.1% | |||
Ping An Insurance Group Co. of China Ltd. (China) | 1.1% | |||
JD.com, Inc. (China) | 1.0% | |||
Housing Development Finance Corp. Ltd. (India) | 1.0% |
Country Diversification* as of February 28, 2022 |
China | 31.5% | |||
Taiwan | 19.9% | |||
India | 12.8% | |||
South Korea | 11.0% | |||
Brazil | 4.0% | |||
South Africa | 3.3% | |||
Saudi Arabia | 2.8% | |||
Mexico | 2.3% | |||
Indonesia | 2.0% | |||
Thailand | 2.0% | |||
Other | 8.4% | |||
|
| |||
Total | 100.0% |
Sector Diversification* as of February 28, 2022 |
Financials | 27.4% | |||
Information Technology | 24.7% | |||
Communication Services | 12.6% | |||
Consumer Discretionary | 12.1% | |||
Materials | 6.5% | |||
Industrials | 4.9% | |||
Consumer Staples | 4.7% | |||
Health Care | 3.8% | |||
Real Estate | 1.9% | |||
Utilities | 1.3% | |||
Energy | 0.1% | |||
|
| |||
Total | 100.0% |
* As a percent of total investments excluding securities lending collateral and cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 11.
3
DBX ETF Trust
Portfolio Summary (Unaudited)
Xtrackers MSCI EAFE ESG Leaders Equity ETF (EASG)
The Xtrackers MSCI EAFE ESG Leaders Equity ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the MSCI EAFE ESG Leaders Index (the “Underlying Index”). The Underlying Index is a capitalization weighted index that provides exposure to companies with high environmental, social and governance (“ESG”) performance relative to their sector peers and consists of large- and medium-capitalization companies across developed markets countries, excluding Canada and the United States. It is not possible to invest directly into an index.
Ten Largest Equity Holdings as of February 28, 2022 (20.0% of Net Assets) |
Description | % of Net Assets | |||
ASML Holding NV (Netherlands) | 3.4% | |||
Roche Holding AG (Switzerland) | 3.3% | |||
AstraZeneca PLC (United Kingdom) | 2.3% | |||
Novo Nordisk A/S (Denmark) | 2.1% | |||
Sony Group Corp. (Japan) | 1.6% | |||
Unilever PLC (United Kingdom) | 1.6% | |||
TotalEnergies SE (France) | 1.6% | |||
SAP SE (Germany) | 1.4% | |||
Commonwealth Bank of Australia (Australia) | 1.4% | |||
GlaxoSmithKline PLC (United Kingdom) | 1.3% |
Country Diversification* as of February 28, 2022 |
Japan | 24.2% | |||
United Kingdom | 14.2% | |||
France | 10.7% | |||
Switzerland | 9.9% | |||
Germany | 7.8% | |||
Australia | 6.7% | |||
Netherlands | 6.6% | |||
Denmark | 4.0% | |||
Sweden | 3.2% | |||
Spain | 2.2% | |||
Other | 10.5% | |||
|
| |||
Total | 100.0% |
Sector Diversification* as of February 28, 2022 |
Financials | 17.4% | |||
Industrials | 14.7% | |||
Health Care | 14.6% | |||
Consumer Discretionary | 11.4% | |||
Consumer Staples | 9.4% | |||
Materials | 9.0% | |||
Information Technology | 8.7% | |||
Communication Services | 5.3% | |||
Utilities | 3.3% | |||
Energy | 3.2% | |||
Real Estate | 3.0% | |||
|
| |||
Total | 100.0% |
* As a percent of total investments excluding exchange-traded funds and securities lending collateral.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 26.
4
DBX ETF Trust
Portfolio Summary (Unaudited)
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (EMSG)
The Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the MSCI Emerging Markets ESG Leaders Index (the “Underlying Index”). The Underlying Index is a capitalization weighted index that provides exposure to companies with high environmental, social and governance (“ESG”) performance relative to their sector peers and consists of large- and medium-capitalization companies across emerging markets countries. It is not possible to invest directly into an index.
Ten Largest Equity Holdings as of February 28, 2022 (38.1% of Net Assets) |
Description | % of Net Assets | |||
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) | 13.2% | |||
Tencent Holdings Ltd. (China) | 7.7% | |||
Alibaba Group Holding Ltd. (China) | 5.0% | |||
Meituan (China) | 2.3% | |||
Reliance Industries Ltd. (India) | 2.2% | |||
Infosys Ltd. (India) | 1.9% | |||
China Construction Bank Corp. (China) | 1.8% | |||
MediaTek, Inc. (Taiwan) | 1.5% | |||
Housing Development Finance Corp. Ltd. (India) | 1.3% | |||
Ping An Insurance Group Co. of China Ltd. (China) | 1.2% |
Country Diversification* as of February 28, 2022 |
China | 30.0% | |||
Taiwan | 23.7% | |||
India | 12.5% | |||
South Korea | 6.5% | |||
South Africa | 5.5% | |||
Brazil | 3.7% | |||
Thailand | 2.5% | |||
Malaysia | 2.1% | |||
United Arab Emirates | 2.1% | |||
Hong Kong | 2.0% | |||
Other | 9.4% | |||
|
| |||
Total | 100.0% |
Sector Diversification* as of February 28, 2022 |
Information Technology | 22.2% | |||
Financials | 20.1% | |||
Consumer Discretionary | 15.6% | |||
Communication Services | 12.9% | |||
Materials | 7.2% | |||
Consumer Staples | 5.5% | |||
Industrials | 4.7% | |||
Energy | 4.2% | |||
Health Care | 3.6% | |||
Real Estate | 2.3% | |||
Utilities | 1.7% | |||
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| |||
Total | 100.0% |
* As a percent of total investments excluding exchange-traded funds and securities lending collateral.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 32.
5
DBX ETF Trust
Portfolio Summary (Unaudited)
Xtrackers MSCI USA ESG Leaders Equity ETF (USSG)
Xtrackers MSCI USA ESG Leaders Equity ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the MSCI USA ESG Leaders Index (the “Underlying Index”). The Underlying Index is a capitalization weighted index that provides exposure to companies with high environmental, social and governance (“ESG”) performance relative to their sector peers and consists of large- and medium-capitalization companies in the U.S. market. The S&P 500 Index or the Standard & Poor’s 500 Index is a market-capitalization-weighted index of the 500 largest U.S. publicly traded companies. It is not possible to invest directly into an index.
Ten Largest Equity Holdings as of February 28, 2022 (36.6% of Net Assets) |
Description | % of Net Assets | |||
Microsoft Corp. | 10.9% | |||
Alphabet, Inc. | 8.1% | |||
Tesla, Inc. | 3.8% | |||
NVIDIA Corp. | 3.1% | |||
Johnson & Johnson | 2.2% | |||
Procter & Gamble Co. | 1.9% | |||
Visa, Inc. | 1.9% | |||
Home Depot, Inc. | 1.7% | |||
Mastercard, Inc. | 1.6% | |||
Walt Disney Co. | 1.4% |
Sector Diversification* as of February 28, 2022 |
Information Technology | 28.7% | |||
Health Care | 13.3% | |||
Consumer Discretionary | 12.5% | |||
Financials | 11.6% | |||
Communication Services | 11.6% | |||
Industrials | 7.8% | |||
Consumer Staples | 6.5% | |||
Materials | 2.8% | |||
Real Estate | 2.7% | |||
Energy | 1.5% | |||
Utilities | 1.0% | |||
|
| |||
Total | 100.0% |
* As a percent of total investments excluding securities lending collateral and cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 40.
6
DBX ETF Trust
Portfolio Summary (Unaudited)
Xtrackers S&P 500 ESG ETF (SNPE)
Xtrackers S&P 500 ESG ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the S&P 500 ESG Index (the “Underlying Index”). The Underlying Index is a broad-based, market capitalization weighted index that provides exposure to companies with high environmental, social and governance (“ESG”) performance relative to their sector peers, while maintaining similar overall industry group weights as the S&P 500 Index. It is not possible to invest directly into an index.
Ten Largest Equity Holdings as of February 28, 2022 (37.4% of Net Assets) |
Description | % of Net Assets | |||
Apple, Inc. | 9.0% | |||
Microsoft Corp. | 7.9% | |||
Alphabet, Inc. | 5.5% | |||
Amazon.com, Inc. | 4.7% | |||
Tesla, Inc. | 2.5% | |||
NVIDIA Corp. | 2.1% | |||
UnitedHealth Group, Inc. | 1.6% | |||
JPMorgan Chase & Co. | 1.5% | |||
Procter & Gamble Co. | 1.3% | |||
Visa, Inc. | 1.3% |
Sector Diversification* as of February 28, 2022 |
Information Technology | 31.1% | |||
Consumer Discretionary | 13.5% | |||
Health Care | 12.9% | |||
Financials | 10.3% | |||
Communication Services | 9.5% | |||
Industrials | 6.4% | |||
Consumer Staples | 5.7% | |||
Energy | 4.0% | |||
Real Estate | 2.6% | |||
Materials | 2.5% | |||
Utilities | 1.5% | |||
|
| |||
Total | 100.0% |
* As a percent of total investments excluding cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 45.
7
DBX ETF Trust
Portfolio Summary (Unaudited)
Xtrackers S&P MidCap 400 ESG ETF (MIDE)
Xtrackers S&P MidCap 400 ESG ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the S&P MidCap 400 ESG Index (the “Underlying Index”). The Underlying Index is a broad-based, market capitalization weighted index that provides exposure to companies with high environmental, social and governance (“ESG”) performance relative to their sector peers, while maintaining similar overall industry group weights as the S&P MidCap 400 Index. It is not possible to invest directly into an index.
Ten Largest Equity Holdings as of February 28, 2022 (8.9% of Net Assets) |
Description | % of Net Assets | |||
Molina Healthcare, Inc. | 1.2% | |||
Camden Property Trust | 1.1% | |||
Steel Dynamics, Inc. | 0.9% | |||
Fair Isaac Corp. | 0.9% | |||
First Horizon Corp. | 0.8% | |||
Jones Lang LaSalle, Inc. | 0.8% | |||
East West Bancorp, Inc. | 0.8% | |||
Carlisle Cos., Inc. | 0.8% | |||
Graco, Inc. | 0.8% | |||
Medical Properties Trust, Inc. | 0.8% |
Sector Diversification* as of February 28, 2022 |
Industrials | 19.5% | |||
Financials | 15.6% | |||
Consumer Discretionary | 15.4% | |||
Information Technology | 13.2% | |||
Real Estate | 11.9% | |||
Health Care | 8.6% | |||
Materials | 7.6% | |||
Consumer Staples | 3.5% | |||
Communication Services | 2.0% | |||
Utilities | 1.5% | |||
Energy | 1.2% | |||
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| |||
Total | 100.0% |
* As a percent of total investments excluding exchange-traded funds and cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 50.
8
DBX ETF Trust
Portfolio Summary (Unaudited)
Xtrackers S&P SmallCap 600 ESG ETF (SMLE)
Xtrackers S&P SmallCap 600 ESG ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the S&P SmallCap 600 ESG Index (the “Underlying Index”). The Underlying Index is a broad-based, market capitalization weighted index that provides exposure to companies with high environmental, social and governance (“ESG”) performance relative to their sector peers, while maintaining similar overall industry group weights as the S&P SmallCap 600 Index. It is not possible to invest directly into an index.
Ten Largest Equity Holdings as of February 28, 2022 (7.4% of Net Assets) |
Description | % of Net Assets | |||
Range Resources Corp. | 0.8% | |||
Omnicell, Inc. | 0.8% | |||
Vonage Holdings Corp. | 0.8% | |||
Chart Industries, Inc. | 0.8% | |||
Rogers Corp. | 0.7% | |||
Southwestern Energy Co. | 0.7% | |||
AMN Healthcare Services, Inc. | 0.7% | |||
Exponent, Inc. | 0.7% | |||
Matson, Inc. | 0.7% | |||
SPS Commerce, Inc. | 0.7% |
Sector Diversification* as of February 28, 2022 |
Financials | 18.5% | |||
Industrials | 17.9% | |||
Information Technology | 14.2% | |||
Consumer Discretionary | 12.6% | |||
Health Care | 11.8% | |||
Real Estate | 8.2% | |||
Materials | 5.9% | |||
Consumer Staples | 4.4% | |||
Energy | 4.4% | |||
Communication Services | 1.1% | |||
Utilities | 1.0% | |||
|
| |||
Total | 100.0% |
* As a percent of total investments excluding exchange-traded funds, securities lending collateral and cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 54.
9
DBX ETF Trust
As a shareholder of one or more of the Funds, you incur two types of costs: (1) transaction costs, including brokerage commissions paid on purchases and sales of fund shares, and (2) ongoing costs, including management fees and other Fund expenses. In the most recent six-month period the Funds limited these expenses; had they not done so, expenses would have been higher. The expense examples below are intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with the ongoing costs of investing in other funds.
The examples in the tables are based on an investment of $1,000 invested at the beginning of the period and held for the entire period (Septemebr 1, 2021 to February 28, 2022).
Actual expenses
The first line in the following tables provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading “Expenses Paid During the Period” to estimate the expenses you paid on your account during this period.
Hypothetical example for comparison purposes
The second line in the following tables provides information about hypothetical account values and hypothetical expenses based on the Funds’ actual expense ratios and an assumed rate of return of 5% per year before expenses (which is not the Funds’ actual return). The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Please note that the expenses shown in the tables are meant to highlight your ongoing costs only, and do not reflect any transactional costs. Therefore the second line in the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
Beginning Account Value September 1, 2021 | Ending Account Value February 28, 2022 | Annualized Expense Ratio | Expenses Paid During the Period Per $1,000(1) | |||||||||||||
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF |
| |||||||||||||||
Actual | $ | 1,000.00 | $ | 911.50 | 0.15 | % | $ | 0.71 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,024.05 | 0.15 | % | $ | 0.76 | ||||||||
Xtrackers MSCI EAFE ESG Leaders Equity ETF |
| |||||||||||||||
Actual | $ | 1,000.00 | $ | 919.30 | 0.14 | % | $ | 0.64 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,024.12 | 0.14 | % | $ | 0.68 | ||||||||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF |
| |||||||||||||||
Actual | $ | 1,000.00 | $ | 879.30 | 0.20 | % | $ | 0.93 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,023.81 | 0.20 | % | $ | 1.00 | ||||||||
Xtrackers MSCI USA ESG Leaders Equity ETF |
| |||||||||||||||
Actual | $ | 1,000.00 | $ | 966.20 | 0.09 | % | $ | 0.44 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,024.35 | 0.09 | % | $ | 0.45 | ||||||||
Xtrackers S&P 500 ESG ETF |
| |||||||||||||||
Actual | $ | 1,000.00 | $ | 996.00 | 0.10 | % | $ | 0.49 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,024.30 | 0.10 | % | $ | 0.50 | ||||||||
Xtrackers S&P MidCap 400 ESG ETF |
| |||||||||||||||
Actual | $ | 1,000.00 | $ | 978.30 | 0.15 | % | $ | 0.74 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,024.05 | 0.15 | % | $ | 0.76 | ||||||||
Xtrackers S&P SmallCap 600 ESG ETF |
| |||||||||||||||
Actual | $ | 1,000.00 | $ | 982.80 | 0.15 | % | $ | 0.74 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,024.05 | 0.15 | % | $ | 0.76 |
(1) Expenses are equal to each Fund’s annualized expense ratio, multiplied by the average account value over the period, multiplied by 181 (the number of days in the most recent six-month period), then divided by 365.
10
DBX ETF Trust
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF
February 28, 2022 (Unaudited)
Number | Value | |||||||
COMMON STOCKS — 97.8% | ||||||||
Argentina — 0.0% | ||||||||
Adecoagro SA* | 9,879 | $ | 94,443 | |||||
Despegar.com Corp.* | 7,920 | 91,159 | ||||||
Grupo Financiero Galicia SA, ADR | 10,673 | 101,073 | ||||||
Telecom Argentina SA, ADR* (a) | 19,570 | 98,242 | ||||||
|
| |||||||
(Cost $375,106) | 384,917 | |||||||
|
| |||||||
Brazil — 2.8% | ||||||||
Ambev SA | 410,483 | 1,211,123 | ||||||
Americanas SA | 62,529 | 370,195 | ||||||
Atacadao SA | 23,300 | 86,159 | ||||||
B3 SA — Brasil Bolsa Balcao | 924,980 | 2,617,817 | ||||||
Banco Bradesco SA | 183,960 | 609,189 | ||||||
Banco BTG Pactual SA | 216,589 | 1,080,065 | ||||||
Banco do Brasil SA | 133,837 | 914,727 | ||||||
Banco Inter SA | 55,557 | 217,733 | ||||||
Banco Santander Brasil SA | 54,255 | 325,844 | ||||||
BB Seguridade Participacoes SA | 108,208 | 483,940 | ||||||
BRF SA* | 53,637 | 173,976 | ||||||
CCR SA | 99,189 | 226,423 | ||||||
Centrais Eletricas Brasileiras SA | 62,689 | 423,102 | ||||||
Cia de Saneamento Basico do Estado de Sao Paulo | 33,083 | 265,925 | ||||||
Cia Siderurgica Nacional SA | 57,636 | 280,813 | ||||||
CPFL Energia SA | 14,484 | 85,076 | ||||||
Energisa SA | 28,890 | 247,250 | ||||||
Equatorial Energia SA | 50,840 | 252,340 | ||||||
Hapvida Participacoes e Investimentos SA, 144A | 493,784 | 1,162,645 | ||||||
Hypera SA | 46,127 | 299,950 | ||||||
Itau Unibanco Holding SA | 43,671 | 185,053 | ||||||
Klabin SA | 78,572 | 353,839 | ||||||
Localiza Rent a Car SA | 55,557 | 620,308 | ||||||
Lojas Renner SA | 143,637 | 705,959 | ||||||
Magazine Luiza SA | 257,540 | 300,448 | ||||||
Multiplan Empreendimentos Imobiliarios SA | 34,477 | 147,834 | ||||||
Natura & Co. Holding SA* | 138,903 | 624,183 | ||||||
Neoenergia SA | 25,559 | 79,827 | ||||||
Pagseguro Digital Ltd., Class A* (a) | 25,162 | 401,082 | ||||||
Porto Seguro SA | 24,210 | 98,594 | ||||||
Raia Drogasil SA | 182,234 | 826,327 | ||||||
Rede D’Or Sao Luiz SA, 144A | 70,710 | 700,004 | ||||||
Rumo SA* | 174,506 | 525,039 | ||||||
Sendas Distribuidora SA | 103,549 | 270,546 | ||||||
StoneCo Ltd., Class A* | 19,572 | 219,989 | ||||||
Suzano SA | 72,798 | 778,187 | ||||||
Telefonica Brasil SA | 40,069 | 390,213 | ||||||
TIM SA | 107,198 | 283,201 | ||||||
TOTVS SA | 44,932 | 288,255 | ||||||
Via S/A* | 192,954 | 141,952 | ||||||
WEG SA | 135,698 | 774,409 | ||||||
XP, Inc.* | 1,919 | 61,540 | ||||||
XP, Inc., Class A* (a) | 7,287 | 235,662 | ||||||
|
| |||||||
(Cost $22,494,537) | 20,346,743 | |||||||
|
|
Number | Value | |||||||
Chile — 0.3% | ||||||||
Banco de Chile | 4,282,617 | $ | 456,820 | |||||
Banco de Credito e Inversiones SA | 10,250 | 368,461 | ||||||
Banco Santander Chile | 10,350,842 | 510,510 | ||||||
Cencosud SA | 128,246 | 237,194 | ||||||
Cencosud Shopping SA | 40,660 | 43,893 | ||||||
Cia Sud Americana de Vapores SA | 1,820,483 | 178,200 | ||||||
Empresas CMPC SA | 100,739 | 167,357 | ||||||
Falabella SA | 81,648 | 270,174 | ||||||
|
| |||||||
(Cost $2,251,299) | 2,232,609 | |||||||
|
| |||||||
China — 31.5% | ||||||||
360 Security Technology, Inc., Class A* | 38,200 | 63,324 | ||||||
51job, Inc., ADR* | 5,591 | 289,614 | ||||||
AAC Technologies Holdings, Inc. (a) | 69,533 | 190,436 | ||||||
Agile Group Holdings Ltd. | 91,432 | 41,657 | ||||||
Agricultural Bank of China Ltd., Class A | 776,600 | 366,762 | ||||||
Agricultural Bank of China Ltd., Class H | 4,316,518 | 1,635,191 | ||||||
Aier Eye Hospital Group Co. Ltd., Class A | 30,400 | 174,692 | ||||||
Air China Ltd., Class A* | 59,100 | 92,537 | ||||||
Air China Ltd., Class H* | 157,466 | 120,915 | ||||||
Airtac International Group | 7,457 | 244,710 | ||||||
Alibaba Group Holding Ltd., ADR* | 167,041 | 17,571,043 | ||||||
A-Living Smart City Services Co. Ltd., 144A | 80,254 | 143,998 | ||||||
Aluminum Corp. of China Ltd., Class A* | 66,600 | 68,394 | ||||||
Aluminum Corp. of China Ltd., Class H* | 405,824 | 280,982 | ||||||
Angang Steel Co. Ltd., Class A | 34,600 | 21,056 | ||||||
Angang Steel Co. Ltd., Class H | 226,789 | 112,615 | ||||||
Angel Yeast Co. Ltd., Class A | 11,300 | 89,361 | ||||||
Anhui Conch Cement Co. Ltd., Class A | 35,000 | 223,534 | ||||||
Anhui Conch Cement Co. Ltd., Class H | 102,149 | 547,761 | ||||||
ANTA Sports Products Ltd. | 108,374 | 1,649,112 | ||||||
Apeloa Pharmaceutical Co. Ltd., Class A | 6,900 | 31,012 | ||||||
Asymchem Laboratories Tianjin Co. Ltd., Class A | 2,000 | 107,895 | ||||||
Autohome, Inc., ADR* | 5,590 | 170,998 | ||||||
Avary Holding Shenzhen Co. Ltd., Class A | 5,400 | 29,619 | ||||||
Baidu, Inc., ADR* | 24,790 | 3,778,988 | ||||||
Bank of Beijing Co. Ltd., Class A | 106,000 | 75,762 | ||||||
Bank of China Ltd., Class A | 305,200 | 149,940 | ||||||
Bank of China Ltd., Class H | 7,428,510 | 2,890,138 | ||||||
Bank of Communications Co. Ltd., Class A | 371,500 | 281,422 | ||||||
Bank of Communications Co. Ltd., Class H | 1,072,659 | 735,817 | ||||||
Bank of Hangzhou Co. Ltd., Class A | 68,900 | 156,363 | ||||||
Bank of Jiangsu Co. Ltd., Class A | 77,900 | 82,097 | ||||||
Bank of Nanjing Co. Ltd., Class A | 85,700 | 132,557 | ||||||
Bank of Ningbo Co. Ltd., Class A | 39,360 | 237,657 | ||||||
Bank of Shanghai Co. Ltd., Class A | 82,100 | 90,948 | ||||||
Baoshan Iron & Steel Co. Ltd., Class A | 75,000 | 85,816 | ||||||
BBMG Corp., Class A | 203,800 | 93,018 | ||||||
BeiGene Ltd., ADR* | 5,488 | 1,155,334 | ||||||
Beijing Dabeinong Technology Group Co. Ltd., Class A | 21,200 | 27,819 |
See Notes to Financial Statements. | 11 |
DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
China (Continued) | ||||||||
Beijing Shiji Information Technology Co. Ltd., Class A | 6,200 | $ | 23,523 | |||||
Beijing United Information Technology Co. Ltd., Class A | 4,000 | 74,796 | ||||||
Beijing Wantai Biological Pharmacy Enterprise Co. Ltd., Class A | 2,300 | 91,781 | ||||||
Beijing-Shanghai High Speed Railway Co. Ltd., Class A | 248,900 | 203,538 | ||||||
Bilibili, Inc., ADR* (a) | 22,367 | 707,021 | ||||||
Blue Moon Group Holdings Ltd., 144A (a) | 155,975 | 121,767 | ||||||
BOC International China Co. Ltd., Class A | 16,100 | 29,904 | ||||||
BOE Technology Group Co. Ltd., Class A | 250,500 | 186,585 | ||||||
BYD Co. Ltd., Class A | 10,200 | 403,474 | ||||||
BYD Co. Ltd., Class H | 76,992 | 2,339,212 | ||||||
By-health Co. Ltd., Class A | 4,800 | 18,842 | ||||||
CanSino Biologics, Inc., Class H, 144A* (a) | 6,057 | 109,067 | ||||||
CGN Power Co. Ltd., Class A | 141,100 | 65,742 | ||||||
CGN Power Co. Ltd., Class H, 144A | 1,831,480 | 518,009 | ||||||
Changchun High & New Technology Industry Group, Inc., Class A | 1,700 | 49,047 | ||||||
Changzhou Xingyu Automotive Lighting Systems Co. Ltd., Class A | 1,600 | 39,120 | ||||||
China Baoan Group Co. Ltd., Class A | 15,100 | 32,928 | ||||||
China Bohai Bank Co. Ltd., Class H, 144A (a) | 314,387 | 52,306 | ||||||
China Cinda Asset Management Co. Ltd., Class H | 676,696 | 122,111 | ||||||
China CITIC Bank Corp. Ltd., Class H | 820,493 | 385,376 | ||||||
China Conch Venture Holdings Ltd. | 148,250 | 713,388 | ||||||
China Construction Bank Corp., Class A | 140,300 | 134,074 | ||||||
China Construction Bank Corp., Class H | 13,775,109 | 10,330,847 | ||||||
China CSSC Holdings Ltd., Class A | 9,600 | 33,334 | ||||||
China Eastern Airlines Corp. Ltd., Class A* | 62,800 | 53,743 | ||||||
China Everbright Bank Co. Ltd., Class A | 360,500 | 190,819 | ||||||
China Everbright Bank Co. Ltd., Class H | 597,247 | 221,664 | ||||||
China Evergrande Group (a) | 185,090 | 37,901 | ||||||
China Feihe Ltd., 144A | 144,494 | 172,349 | ||||||
China Galaxy Securities Co. Ltd., Class H | 381,125 | 218,031 | ||||||
China Greatwall Technology Group Co. Ltd., Class A | 15,300 | 32,200 | ||||||
China Hongqiao Group Ltd. | 223,994 | 311,322 | ||||||
China International Capital Corp. Ltd., Class A | 11,800 | 79,178 | ||||||
China International Capital Corp. Ltd., Class H, 144A | 222,756 | 541,659 | ||||||
China International Marine Containers Group Co. Ltd., Class H | 58,819 | 97,408 | ||||||
China Lesso Group Holdings Ltd. | 133,370 | 204,483 | ||||||
China Life Insurance Co. Ltd., Class A | 21,600 | 98,518 | ||||||
China Life Insurance Co. Ltd., Class H | 1,127,148 | 1,869,516 | ||||||
China Literature Ltd., 144A* | 42,187 | 227,572 | ||||||
China Meidong Auto Holdings Ltd. | 64,838 | 304,121 | ||||||
China Merchants Bank Co. Ltd., Class A | 111,200 | 877,616 |
Number | Value | |||||||
China (Continued) | ||||||||
China Merchants Bank Co. Ltd., Class H | 367,463 | $ | 3,094,445 | |||||
China Merchants Securities Co. Ltd., Class A | 42,400 | 106,437 | ||||||
China Merchants Securities Co. Ltd., Class H, 144A | 31,640 | 39,886 | ||||||
China Merchants Shekou Industrial Zone Holdings Co. Ltd., Class A | 14,300 | 30,708 | ||||||
China Minsheng Banking Corp. Ltd., Class A | 281,900 | 174,680 | ||||||
China Minsheng Banking Corp. Ltd., Class H | 575,455 | 223,887 | ||||||
China Molybdenum Co. Ltd., Class H | 329,296 | 197,231 | ||||||
China National Building Material Co. Ltd., Class H | 329,766 | 422,880 | ||||||
China National Chemical Engineering Co. Ltd., Class A | 66,000 | 108,884 | ||||||
China National Nuclear Power Co. Ltd., Class A | 137,200 | 160,900 | ||||||
China Northern Rare Earth Group High-Tech Co. Ltd., Class A | 15,200 | 118,541 | ||||||
China Pacific Insurance Group Co. Ltd., Class A | 36,900 | 154,617 | ||||||
China Pacific Insurance Group Co. Ltd., Class H | 225,079 | 626,524 | ||||||
China Railway Group Ltd., Class A | 153,900 | 151,461 | ||||||
China Railway Group Ltd., Class H | 392,311 | 230,455 | ||||||
China Railway Signal & Communication Corp. Ltd., Class H, 144A | 249,186 | 90,570 | ||||||
China Reinsurance Group Corp., Class H | 848,934 | 81,485 | ||||||
China Resources Mixc Lifestyle Services Ltd., 144A | 58,816 | 302,597 | ||||||
China Southern Airlines Co. Ltd., Class H* | 149,015 | 94,020 | ||||||
China State Construction Engineering Corp. Ltd., Class A | 248,500 | 200,454 | ||||||
China Tower Corp. Ltd., Class H, 144A | 3,990,424 | 464,733 | ||||||
China United Network Communications Ltd., Class A | 176,600 | 106,912 | ||||||
China Vanke Co. Ltd., Class A | 62,800 | 191,087 | ||||||
China Vanke Co. Ltd., Class H | 167,165 | 396,214 | ||||||
China Yangtze Power Co. Ltd., Class A | 270,300 | 992,956 | ||||||
China Zhenhua Group Science & Technology Co. Ltd., Class A | 5,700 | 105,843 | ||||||
Chongqing Changan Automobile Co. Ltd., Class A | 38,200 | 78,337 | ||||||
Chongqing Rural Commercial Bank Co. Ltd., Class H | 320,912 | 118,283 | ||||||
Chongqing Zhifei Biological Products Co. Ltd., Class A | 9,400 | 192,588 | ||||||
CIFI Holdings Group Co. Ltd. | 369,885 | 257,519 | ||||||
CITIC Securities Co. Ltd., Class A | 98,555 | 364,388 | ||||||
CITIC Securities Co. Ltd., Class H | 193,829 | 469,831 | ||||||
Contemporary Amperex Technology Co. Ltd., Class A | 21,100 | 1,783,502 | ||||||
COSCO SHIPPING Holdings Co. Ltd., Class A* | 77,700 | 215,738 | ||||||
COSCO SHIPPING Holdings Co. Ltd., Class H* | 308,329 | 619,523 |
See Notes to Financial Statements. | 12 |
DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
China (Continued) | ||||||||
Country Garden Holdings Co. Ltd. | 789,746 | $ | 612,496 | |||||
Country Garden Services Holdings Co. Ltd. | 173,200 | 1,035,161 | ||||||
CRRC Corp. Ltd., Class A | 138,800 | 127,362 | ||||||
CRRC Corp. Ltd., Class H | 411,288 | 182,650 | ||||||
CSC Financial Co. Ltd., Class H, 144A | 131,508 | 139,693 | ||||||
Dada Nexus Ltd., ADR* | 28,888 | 240,059 | ||||||
Dali Foods Group Co. Ltd., 144A | 179,908 | 94,631 | ||||||
DaShenLin Pharmaceutical Group Co. Ltd., Class A | 5,300 | 29,893 | ||||||
Dongfang Electric Corp. Ltd., Class A | 11,300 | 29,119 | ||||||
Dongfang Electric Corp. Ltd., Class H | 30,880 | 38,690 | ||||||
Dongfeng Motor Group Co. Ltd., Class H | 157,073 | 134,886 | ||||||
East Money Information Co. Ltd., Class A | 62,300 | 264,010 | ||||||
Ecovacs Robotics Co. Ltd., Class A | 2,200 | 47,232 | ||||||
Eve Energy Co. Ltd., Class A | 12,000 | 170,206 | ||||||
Everbright Securities Co. Ltd., Class A | 54,400 | 114,835 | ||||||
Evergrande Property Services Group Ltd., 144A* | 362,957 | 109,161 | ||||||
Flat Glass Group Co. Ltd., Class A | 11,900 | 92,409 | ||||||
Flat Glass Group Co. Ltd., Class H | 76,361 | 314,681 | ||||||
Focus Media Information Technology Co. Ltd., Class A | 95,500 | 115,780 | ||||||
Foshan Haitian Flavouring & Food Co. Ltd., Class A | 12,800 | 200,824 | ||||||
Founder Securities Co. Ltd., Class A | 49,100 | 55,870 | ||||||
Foxconn Industrial Internet Co. Ltd., Class A | 70,000 | 123,914 | ||||||
Fujian Sunner Development Co. Ltd., Class A* | 9,200 | 28,737 | ||||||
Fuyao Glass Industry Group Co. Ltd., Class A | 15,200 | 105,990 | ||||||
Fuyao Glass Industry Group Co. Ltd., Class H, 144A | 47,115 | 230,338 | ||||||
Ganfeng Lithium Co. Ltd., Class A | 7,000 | 167,967 | ||||||
Ganfeng Lithium Co. Ltd., Class H, 144A | 20,970 | 352,913 | ||||||
GDS Holdings Ltd., ADR* (a) | 27,957 | 1,244,646 | ||||||
GEM Co. Ltd., Class A | 75,600 | 114,538 | ||||||
Gemdale Corp., Class A | 14,900 | 30,012 | ||||||
Genscript Biotech Corp.* | 153,488 | 606,000 | ||||||
GF Securities Co. Ltd., Class A | 50,300 | 148,349 | ||||||
GF Securities Co. Ltd., Class H | 109,027 | 163,533 | ||||||
Gigadevice Semiconductor Beijing, Inc., Class A | 3,600 | 87,467 | ||||||
GoerTek, Inc., Class A | 12,100 | 83,952 | ||||||
Gotion High-tech Co. Ltd., Class A* | 10,500 | 71,686 | ||||||
Great Wall Motor Co. Ltd., Class A | 7,900 | 45,710 | ||||||
Great Wall Motor Co. Ltd., Class H | 195,286 | 406,382 | ||||||
Gree Electric Appliances, Inc. of Zhuhai, Class A | 50,900 | 296,607 | ||||||
Guangdong Haid Group Co. Ltd., Class A | 7,000 | 73,084 | ||||||
Guangdong Kinlong Hardware Products Co. Ltd., Class A | 3,200 | 53,756 | ||||||
Guangzhou Automobile Group Co. Ltd., Class H | 157,073 | 154,787 |
Number | Value | |||||||
China (Continued) | ||||||||
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class A | 35,300 | $ | 166,654 | |||||
Guangzhou Kingmed Diagnostics Group Co. Ltd., Class A | 3,200 | 42,700 | ||||||
Guangzhou Tinci Materials Technology Co. Ltd., Class A | 7,000 | 117,802 | ||||||
Guosen Securities Co. Ltd., Class A | 24,000 | 39,366 | ||||||
Guotai Junan Securities Co. Ltd., Class A | 52,200 | 138,069 | ||||||
Guotai Junan Securities Co. Ltd., Class H, 144A | 78,389 | 115,572 | ||||||
Haidilao International Holding Ltd., 144A (a) | 85,379 | 195,809 | ||||||
Haier Smart Home Co. Ltd., Class A | 46,600 | 188,246 | ||||||
Haier Smart Home Co. Ltd., Class H | 200,873 | 700,537 | ||||||
Haitong Securities Co. Ltd., Class A | 56,600 | 100,822 | ||||||
Haitong Securities Co. Ltd., Class H | 252,989 | 217,578 | ||||||
Hangzhou First Applied Material Co. Ltd., Class A | 12,400 | 233,144 | ||||||
Hangzhou Silan Microelectronics Co. Ltd., Class A | 12,300 | 111,090 | ||||||
Hangzhou Tigermed Consulting Co. Ltd., Class A | 7,000 | 112,910 | ||||||
Hangzhou Tigermed Consulting Co. Ltd., Class H, 144A | 9,782 | 109,542 | ||||||
Hansoh Pharmaceutical Group Co. Ltd., 144A | 117,993 | 252,485 | ||||||
Hengan International Group Co. Ltd. | 58,353 | 309,550 | ||||||
Hithink RoyalFlush Information Network Co. Ltd., Class A | 4,300 | 73,563 | ||||||
Hongfa Technology Co. Ltd., Class A | 10,000 | 99,525 | ||||||
Hua Hong Semiconductor Ltd., 144A* | 95,161 | 493,239 | ||||||
Huadong Medicine Co. Ltd., Class A | 23,200 | 139,310 | ||||||
Huaneng Lancang River Hydropower, Inc., Class A | 73,600 | 71,850 | ||||||
Huatai Securities Co. Ltd., Class A | 44,700 | 112,210 | ||||||
Huatai Securities Co. Ltd., Class H, 144A | 126,281 | 206,544 | ||||||
Huaxia Bank Co. Ltd., Class A | 109,400 | 97,610 | ||||||
Huaxin Cement Co. Ltd., Class B | 51,300 | 97,111 | ||||||
Huayu Automotive Systems Co. Ltd., Class A | 26,800 | 107,710 | ||||||
Huazhu Group Ltd., ADR* | 9,319 | 385,434 | ||||||
Huizhou Desay Sv Automotive Co. Ltd., Class A | 4,600 | 96,316 | ||||||
Hunan Valin Steel Co. Ltd., Class A | 39,300 | 36,310 | ||||||
Hundsun Technologies, Inc., Class A | 7,000 | 57,952 | ||||||
Iflytek Co. Ltd., Class A | 15,200 | 118,011 | ||||||
Industrial & Commercial Bank of China Ltd., Class A | 572,100 | 422,502 | ||||||
Industrial & Commercial Bank of China Ltd., Class H | 11,637,133 | 6,955,144 | ||||||
Industrial Bank Co. Ltd., Class A | 125,200 | 437,902 | ||||||
Industrial Securities Co. Ltd., Class A | 94,500 | 122,506 | ||||||
Ingenic Semiconductor Co. Ltd., Class A | 4,500 | 79,374 | ||||||
Inner Mongolia BaoTou Steel Union Co. Ltd., Class A* | 282,000 | 119,772 | ||||||
Inner Mongolia Yili Industrial Group Co. Ltd., Class A | 34,400 | 215,450 |
See Notes to Financial Statements. | 13 |
DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
China (Continued) | ||||||||
Innovent Biologics, Inc., 144A* | 76,987 | $ | 344,356 | |||||
Inspur Electronic Information Industry Co. Ltd., Class A | 24,600 | 128,380 | ||||||
Intco Medical Technology Co. Ltd., Class A | 4,800 | 38,970 | ||||||
iQIYI, Inc., ADR* | 29,823 | 123,467 | ||||||
JA Solar Technology Co. Ltd., Class A | 12,200 | 183,599 | ||||||
Jafron Biomedical Co. Ltd., Class A | 9,800 | 71,054 | ||||||
Jason Furniture Hangzhou Co. Ltd., Class A | 10,200 | 113,800 | ||||||
JCET Group Co. Ltd., Class A | 25,900 | 114,888 | ||||||
JD Health International, Inc., 144A* (a) | 63,503 | 470,561 | ||||||
JD.com, Inc., ADR* | 82,749 | 5,927,311 | ||||||
JD.com, Inc., Class A* | 43,777 | 1,564,245 | ||||||
Jiangsu Eastern Shenghong Co. Ltd., Class A | 27,400 | 82,678 | ||||||
Jiangsu Hengrui Medicine Co. Ltd., Class A | 38,200 | 242,640 | ||||||
Jiangsu Zhongtian Technology Co. Ltd., Class A | 34,900 | 103,483 | ||||||
Jiangxi Copper Co. Ltd., Class A | 38,200 | 134,154 | ||||||
Jiangxi Copper Co. Ltd., Class H | 76,521 | 137,496 | ||||||
Jiangxi Zhengbang Technology Co. Ltd., Class A | 21,900 | 23,913 | ||||||
Joinn Laboratories China Co. Ltd., Class H, 144A | 10,629 | 88,556 | ||||||
Jonjee Hi-Tech Industrial And Commercial Holding Co. Ltd., Class A | 6,100 | 33,265 | ||||||
KE Holdings, Inc., ADR* | 55,079 | 1,069,083 | ||||||
Kingdee International Software Group Co. Ltd.* | 428,655 | 1,052,204 | ||||||
Kingfa Sci & Tech Co. Ltd., Class A | 4,300 | 7,319 | ||||||
Kingsoft Cloud Holdings Ltd., ADR* (a) | 13,756 | 92,715 | ||||||
Kingsoft Corp. Ltd. | 129,117 | 479,209 | ||||||
Kuaishou Technology, 144A* | 91,859 | 1,052,763 | ||||||
Kuang-Chi Technologies Co. Ltd., Class A* | 9,700 | 31,191 | ||||||
LB Group Co. Ltd., Class A | 8,000 | 33,534 | ||||||
Legend Holdings Corp., Class H, 144A | 142,165 | 199,774 | ||||||
Lenovo Group Ltd. | 1,021,913 | 1,136,520 | ||||||
Lens Technology Co. Ltd., Class A | 46,600 | 107,379 | ||||||
Li Auto, Inc., ADR* | 89,342 | 2,720,464 | ||||||
Li Ning Co. Ltd. | 210,422 | 2,091,105 | ||||||
Lingyi iTech Guangdong Co., Class A* | 43,900 | 41,674 | ||||||
Livzon Pharmaceutical Group, Inc., Class H | 26,124 | 97,793 | ||||||
Logan Group Co. Ltd. | 204,659 | 68,100 | ||||||
Longfor Group Holdings Ltd., 144A | 183,324 | 980,706 | ||||||
LONGi Green Energy Technology Co. Ltd., Class A | 62,300 | 766,853 | ||||||
Lufax Holding Ltd., ADR* | 290,360 | 1,878,629 | ||||||
Luxshare Precision Industry Co. Ltd., Class A | 36,700 | 252,596 | ||||||
Mango Excellent Media Co. Ltd., Class A | 9,200 | 49,762 | ||||||
Maxscend Microelectronics Co. Ltd., Class A | 1,500 | 64,101 | ||||||
Meituan, Class B, 144A* | 359,436 | 7,921,328 |
Number | Value | |||||||
China (Continued) | ||||||||
Metallurgical Corp. of China Ltd., Class A | 203,500 | $ | 131,259 | |||||
Metallurgical Corp. of China Ltd., Class H | 244,500 | 74,160 | ||||||
Microport Scientific Corp. (a) | 65,564 | 181,243 | ||||||
Ming Yang Smart Energy Group Ltd., Class A | 19,900 | 81,051 | ||||||
Ming Yuan Cloud Group Holdings Ltd.* (a) | 43,800 | 85,989 | ||||||
MINISO Group Holding Ltd., ADR | 28,425 | 248,150 | ||||||
Montage Technology Co. Ltd., Class A | 10,348 | 126,767 | ||||||
Muyuan Foods Co. Ltd., Class A | 23,200 | 209,866 | ||||||
NARI Technology Co. Ltd., Class A | 27,860 | 156,078 | ||||||
NAURA Technology Group Co. Ltd., Class A | 4,100 | 196,975 | ||||||
NavInfo Co. Ltd., Class A* | 12,300 | 33,352 | ||||||
NetEase, Inc., ADR | 36,479 | 3,477,908 | ||||||
New China Life Insurance Co. Ltd., Class A | 18,300 | 110,496 | ||||||
New China Life Insurance Co. Ltd., Class H | 135,022 | 386,212 | ||||||
New Hope Liuhe Co. Ltd., Class A* | 12,100 | 29,473 | ||||||
New Oriental Education & Technology Group, Inc., ADR* | 144,899 | 218,797 | ||||||
Ninestar Corp., Class A | 17,000 | 134,437 | ||||||
NIO, Inc., ADR* | 194,127 | 4,433,861 | ||||||
Nongfu Spring Co. Ltd., Class H, 144A | 161,736 | 1,013,217 | ||||||
Offcn Education Technology Co. Ltd., Class A* | 29,300 | 32,550 | ||||||
Oppein Home Group, Inc., Class A | 3,200 | 64,208 | ||||||
Orient Securities Co. Ltd., Class A | 55,500 | 107,834 | ||||||
Ovctek China, Inc., Class A | 4,100 | 26,634 | ||||||
Pangang Group Vanadium Titanium & Resources Co. Ltd., Class A* | 52,700 | 35,078 | ||||||
People’s Insurance Co. Group of China Ltd., Class A | 187,800 | 137,799 | ||||||
People’s Insurance Co. Group of China Ltd., Class H | 1,183,386 | 380,140 | ||||||
Pharmaron Beijing Co. Ltd., Class A | 4,600 | 88,377 | ||||||
Pharmaron Beijing Co. Ltd., Class H, 144A | 11,651 | 140,760 | ||||||
PICC Property & Casualty Co. Ltd., Class H | 620,673 | 655,330 | ||||||
Pinduoduo, Inc., ADR* | 58,119 | 3,014,051 | ||||||
Ping An Bank Co. Ltd., Class A | 116,900 | 291,787 | ||||||
Ping An Healthcare and Technology Co. Ltd., 144A* (a) | 45,199 | 139,408 | ||||||
Ping An Insurance Group Co. of China Ltd., Class A | 107,900 | 867,988 | ||||||
Ping An Insurance Group Co. of China Ltd., Class H | 922,628 | 7,131,926 | ||||||
Poly Developments and Holdings Group Co. Ltd., Class A | 54,400 | 136,388 | ||||||
Poly Property Services Co. Ltd., Class H | 13,771 | 97,374 | ||||||
Pop Mart International Group Ltd., 144A* | 24,238 | 121,443 | ||||||
Postal Savings Bank of China Co. Ltd., Class A | 203,200 | 179,692 |
See Notes to Financial Statements. | 14 |
DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
China (Continued) | ||||||||
Postal Savings Bank of China Co. Ltd., Class H, 144A (a) | 1,141,691 | $ | 936,591 | |||||
Rongsheng Petrochemical Co. Ltd., Class A | 27,500 | 82,064 | ||||||
SAIC Motor Corp. Ltd., Class A | 54,400 | 156,131 | ||||||
Sangfor Technologies, Inc., Class A | 1,700 | 39,200 | ||||||
Sany Heavy Industry Co. Ltd., Class A | 38,200 | 118,717 | ||||||
Satellite Chemical Co. Ltd., Class A | 17,700 | 126,453 | ||||||
SDIC Capital Co. Ltd., Class A | 63,300 | 74,235 | ||||||
Seazen Group Ltd.* | 186,429 | 98,300 | ||||||
Seazen Holdings Co. Ltd., Class A | 20,700 | 99,038 | ||||||
SF Holding Co. Ltd., Class A | 15,200 | 145,496 | ||||||
SG Micro Corp., Class A | 900 | 49,635 | ||||||
Shandong Gold Mining Co. Ltd., Class H, 144A | 117,058 | 221,721 | ||||||
Shandong Hualu Hengsheng Chemical Co. Ltd., Class A | 23,200 | 129,310 | ||||||
Shandong Linglong Tyre Co. Ltd., Class A | 17,800 | 78,873 | ||||||
Shandong Nanshan Aluminum Co. Ltd., Class A | 124,200 | 95,660 | ||||||
Shandong Weigao Group Medical Polymer Co. Ltd., Class H | 236,110 | 325,140 | ||||||
Shanghai Baosight Software Co. Ltd., Class A | 9,800 | 83,432 | ||||||
Shanghai Baosight Software Co. Ltd., Class B | 54,400 | 234,355 | ||||||
Shanghai Electric Group Co. Ltd., Class H | 388,620 | 108,921 | ||||||
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class A | 24,700 | 165,971 | ||||||
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class H | 69,878 | 279,916 | ||||||
Shanghai International Airport Co. Ltd., Class A* | 8,300 | 68,860 | ||||||
Shanghai Jinjiang International Hotels Co. Ltd., Class A | 6,500 | 57,882 | ||||||
Shanghai Junshi Biosciences Co. Ltd., Class H, 144A* | 20,504 | 138,815 | ||||||
Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd., Class B | 144,004 | 128,308 | ||||||
Shanghai MicroPort MedBot Group Co. Ltd.* | 24,858 | 154,454 | ||||||
Shanghai Pharmaceuticals Holding Co. Ltd., Class H | 60,215 | 108,505 | ||||||
Shanghai Pudong Development Bank Co. Ltd., Class A | 195,800 | 260,343 | ||||||
Shanghai Putailai New Energy Technology Co. Ltd., Class A | 3,300 | 76,083 | ||||||
Shanghai Yuyuan Tourist Mart Group Co. Ltd., Class A | 21,000 | 34,845 | ||||||
Shanxi Taigang Stainless Steel Co. Ltd., Class A | 49,700 | 57,576 | ||||||
Shenwan Hongyuan Group Co. Ltd., Class A | 182,700 | 132,609 | ||||||
Shenzhen Capchem Technology Co. Ltd., Class A | 2,100 | 31,949 |
Number | Value | |||||||
China (Continued) | ||||||||
Shenzhen Inovance Technology Co. Ltd., Class A | 11,050 | $ | 111,481 | |||||
Shenzhen Kangtai Biological Products Co. Ltd., Class A | 2,500 | 33,455 | ||||||
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A | 6,100 | 316,224 | ||||||
Shenzhen Overseas Chinese Town Co. Ltd., Class A | 40,600 | 44,396 | ||||||
Shenzhou International Group Holdings Ltd. | 72,794 | 1,223,217 | ||||||
Sichuan Kelun Pharmaceutical Co. Ltd., Class A | 23,200 | 63,864 | ||||||
Sichuan Road & Bridge Co. Ltd., Class A | 48,200 | 95,178 | ||||||
Sinoma Science & Technology Co. Ltd., Class A | 18,100 | 85,423 | ||||||
Sinopharm Group Co. Ltd., Class H | 209,317 | 505,766 | ||||||
Sinotrans Ltd., Class H | 179,300 | 55,990 | ||||||
Sinotruk Hong Kong Ltd. | 56,264 | 83,816 | ||||||
Sunac China Holdings Ltd. | 230,518 | 188,811 | ||||||
Sunac Services Holdings Ltd., 144A | 76,988 | 65,325 | ||||||
Sungrow Power Supply Co. Ltd., Class A | 12,400 | 237,978 | ||||||
Suning.com Co. Ltd., Class A* | 50,300 | 28,618 | ||||||
Sunny Optical Technology Group Co. Ltd. | 40,537 | 968,588 | ||||||
Sunwoda Electronic Co. Ltd., Class A | 11,300 | 65,758 | ||||||
Suzhou Maxwell Technologies Co. Ltd., Class A | 1,000 | 86,704 | ||||||
TCL Technology Group Corp., Class A | 109,400 | 96,397 | ||||||
Tencent Holdings Ltd. | 890,666 | 48,011,636 | ||||||
Tencent Music Entertainment Group, ADR* | 94,972 | 511,899 | ||||||
Thunder Software Technology Co. Ltd., Class A | 3,200 | 70,714 | ||||||
Tianjin Zhonghuan Semiconductor Co. Ltd., Class A | 30,400 | 231,156 | ||||||
Tingyi Cayman Islands Holding Corp. | 120,322 | 266,092 | ||||||
Tongcheng Travel Holdings Ltd.* | 129,611 | 240,521 | ||||||
Tongwei Co. Ltd., Class A | 23,200 | 157,731 | ||||||
Topchoice Medical Corp., Class A* | 2,200 | 56,234 | ||||||
Topsports International Holdings Ltd., 144A | 236,576 | 244,942 | ||||||
TravelSky Technology Ltd., Class H | 157,073 | 295,905 | ||||||
Trip.com Group Ltd., ADR* | 56,486 | 1,458,468 | ||||||
Unigroup Guoxin Microelectronics Co. Ltd., Class A | 3,100 | 108,726 | ||||||
Uni-President China Holdings Ltd. | 162,488 | 168,442 | ||||||
Vipshop Holdings Ltd., ADR* | 51,365 | 445,335 | ||||||
Walvax Biotechnology Co. Ltd., Class A | 7,000 | 51,862 | ||||||
Wanhua Chemical Group Co. Ltd., Class A | 15,200 | 228,361 | ||||||
Want Want China Holdings Ltd. | 401,164 | 426,645 | ||||||
Weibo Corp., ADR* | 8,393 | 230,220 | ||||||
Weichai Power Co. Ltd., Class A | 54,400 | 130,698 | ||||||
Weichai Power Co. Ltd., Class H | 188,293 | 318,091 | ||||||
Wens Foodstuffs Group Co. Ltd., Class A | 45,400 | 140,229 | ||||||
Western Securities Co. Ltd., Class A | 51,900 | 62,510 | ||||||
Will Semiconductor Co. Ltd., Class A | 3,900 | 151,927 |
See Notes to Financial Statements. | 15 |
DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
China (Continued) | ||||||||
Wingtech Technology Co. Ltd., Class A | 7,000 | $ | 129,461 | |||||
Wuhu Sanqi Interactive Entertainment Network Technology Group Co. Ltd., Class A | 22,400 | 73,945 | ||||||
WuXi AppTec Co. Ltd., Class A | 12,168 | 200,415 | ||||||
WuXi AppTec Co. Ltd., Class H, 144A | 33,550 | 475,746 | ||||||
Wuxi Biologics Cayman, Inc., 144A* | 533,301 | 4,385,194 | ||||||
Wuxi Lead Intelligent Equipment Co. Ltd., Class A | 8,800 | 93,760 | ||||||
XCMG Construction Machinery Co. Ltd., Class A | 166,900 | 146,269 | ||||||
Xiaomi Corp., Class B, 144A* | 880,894 | 1,652,726 | ||||||
Xinjiang Goldwind Science & Technology Co. Ltd., Class A | 65,300 | 154,712 | ||||||
Xinjiang Goldwind Science & Technology Co. Ltd., Class H | 128,115 | 208,888 | ||||||
Xinyi Solar Holdings Ltd. | 774,778 | 1,400,088 | ||||||
XPeng, Inc., ADR* (a) | 82,454 | 2,998,852 | ||||||
Yealink Network Technology Corp. Ltd., Class A | 8,600 | 104,154 | ||||||
Yifeng Pharmacy Chain Co. Ltd., Class A | 7,000 | 54,813 | ||||||
Yihai International Holding Ltd.* | 42,399 | 176,895 | ||||||
Yihai Kerry Arawana Holdings Co. Ltd., Class A | 8,300 | 70,293 | ||||||
Yonyou Network Technology Co. Ltd., Class A | 23,200 | 115,265 | ||||||
YTO Express Group Co. Ltd., Class A | 16,300 | 44,922 | ||||||
Yunda Holding Co. Ltd., Class A | 28,100 | 86,348 | ||||||
Yunnan Aluminium Co. Ltd., Class A* | 39,700 | 90,662 | ||||||
Yunnan Baiyao Group Co. Ltd., Class A | 7,000 | 100,119 | ||||||
Yunnan Energy New Material Co. Ltd., Class A | 5,200 | 214,263 | ||||||
Zai Lab Ltd., ADR* | 6,833 | 373,765 | ||||||
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., Class A | 3,800 | 217,588 | ||||||
Zhejiang Century Huatong Group Co. Ltd., Class A* | 91,100 | 93,987 | ||||||
Zhejiang Chint Electrics Co. Ltd., Class A | 8,400 | 66,455 | ||||||
Zhejiang Dahua Technology Co. Ltd., Class A | 41,900 | 124,173 | ||||||
Zhejiang Dingli Machinery Co. Ltd., Class A | 2,700 | 24,612 | ||||||
Zhejiang Expressway Co. Ltd., Class H | 89,570 | 80,701 | ||||||
Zhejiang Huayou Cobalt Co. Ltd., Class A | 2,800 | 54,638 | ||||||
Zhejiang Jingsheng Mechanical & Electrical Co. Ltd., Class A | 11,500 | 118,463 | ||||||
Zhejiang Jiuzhou Pharmaceutical Co. Ltd., Class A | 4,500 | 34,132 | ||||||
Zhejiang NHU Co. Ltd., Class A | 13,000 | 69,945 | ||||||
Zhejiang Sanhua Intelligent Controls Co. Ltd., Class A | 7,500 | 23,891 | ||||||
Zheshang Securities Co. Ltd., Class A | 54,900 | 100,490 | ||||||
ZhongAn Online P&C Insurance Co. Ltd., Class H, 144A* (a) | 109,606 | 359,102 | ||||||
Zhongsheng Group Holdings Ltd. | 34,014 | 236,810 | ||||||
Zhuzhou CRRC Times Electric Co. Ltd. | 50,843 | 263,530 |
Number | Value | |||||||
China (Continued) | ||||||||
Zhuzhou Kibing Group Co. Ltd., Class A | 27,700 | $ | 68,965 | |||||
Zijin Mining Group Co. Ltd., Class A | 109,400 | 194,527 | ||||||
Zijin Mining Group Co. Ltd., Class H | 334,878 | 496,293 | ||||||
Zoomlion Heavy Industry Science and Technology Co. Ltd., Class H | 197,145 | 130,695 | ||||||
ZTE Corp., Class A | 38,200 | 175,926 | ||||||
ZTE Corp., Class H | 51,306 | 126,070 | ||||||
ZTO Express Cayman, Inc., ADR | 43,331 | 1,275,665 | ||||||
|
| |||||||
(Cost $258,463,300) | 230,022,749 | |||||||
|
| |||||||
Colombia — 0.1% | ||||||||
Bancolombia SA | 38,671 | 387,106 | ||||||
Interconexion Electrica SA ESP | 40,535 | 252,564 | ||||||
|
| |||||||
(Cost $573,737) | 639,670 | |||||||
|
| |||||||
Czech Republic — 0.1% | ||||||||
Komercni Banka AS | 10,719 | 422,362 | ||||||
Moneta Money Bank AS, 144A | 49,064 | 194,421 | ||||||
|
| |||||||
(Cost $641,376) | 616,783 | |||||||
|
| |||||||
Egypt — 0.1% | ||||||||
Commercial International Bank Egypt SAE* | 308,333 | 938,345 | ||||||
Fawry for Banking & Payment Technology Services SAE* | 146,823 | 90,374 | ||||||
|
| |||||||
(Cost $1,113,455) | 1,028,719 | |||||||
|
| |||||||
Greece — 0.3% | ||||||||
Alpha Services and Holdings SA* | 289,060 | 393,503 | ||||||
Eurobank Ergasias Services and Holdings SA* | 407,676 | 447,004 | ||||||
Hellenic Telecommunications Organization SA | 33,549 | 670,744 | ||||||
JUMBO SA | 12,578 | 180,692 | ||||||
National Bank of Greece SA* | 88,875 | 329,421 | ||||||
Piraeus Financial Holdings SA* | 92,400 | 146,958 | ||||||
Star Bulk Carriers Corp. | 7,362 | 221,449 | ||||||
Terna Energy SA | 6,072 | 88,115 | ||||||
|
| |||||||
(Cost $2,388,136) | 2,477,886 | |||||||
|
| |||||||
Hong Kong — 1.2% | ||||||||
Beijing Enterprises Water Group Ltd. | 313,922 | 123,742 | ||||||
BOC Hong Kong Holdings Ltd. | 536,759 | 1,930,318 | ||||||
China Everbright Environment Group Ltd. | 326,288 | 233,847 | ||||||
China Jinmao Holdings Group Ltd. | 637,555 | 212,146 | ||||||
China Mengniu Dairy Co. Ltd.* | 277,115 | 1,799,863 | ||||||
China Merchants Port Holdings Co. Ltd. | 103,082 | 193,929 | ||||||
China Overseas Land & Investment Ltd. | 436,573 | 1,332,565 | ||||||
China Resources Cement Holdings Ltd. | 163,660 | 139,914 | ||||||
China Resources Land Ltd. | 259,875 | 1,263,838 | ||||||
China State Construction International Holdings Ltd. | 179,441 | 252,155 | ||||||
China Taiping Insurance Holdings Co. Ltd. | 224,925 | 265,695 | ||||||
Guangdong Investment Ltd. | 272,903 | 366,725 | ||||||
Jinmao Property Services Co. Ltd.* | 9,630 | 37 | ||||||
Orient Overseas International Ltd. | 18,964 | 533,944 | ||||||
|
| |||||||
(Cost $7,883,638) | 8,648,718 | |||||||
|
|
See Notes to Financial Statements. | 16 |
DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Hungary — 0.2% | ||||||||
OTP Bank Nyrt* | 32,641 | $ | 1,261,780 | |||||
Richter Gedeon Nyrt | 13,981 | 295,236 | ||||||
|
| |||||||
(Cost $2,328,328) | 1,557,016 | |||||||
|
| |||||||
India — 12.8% | ||||||||
Aarti Industries Ltd. | 20,590 | 253,086 | ||||||
ABB India Ltd. | 3,953 | 113,292 | ||||||
ACC Ltd. | 7,639 | 211,806 | ||||||
Adani Green Energy Ltd.* | 80,018 | 1,957,665 | ||||||
Adani Ports & Special Economic Zone Ltd. | 65,339 | 613,522 | ||||||
Adani Transmission Ltd.* | 35,411 | 1,003,102 | ||||||
Alkem Laboratories Ltd. | 3,727 | 162,141 | ||||||
Ambuja Cements Ltd. | 51,776 | 215,941 | ||||||
Apollo Hospitals Enterprise Ltd. | 11,649 | 742,531 | ||||||
Ashok Leyland Ltd. | 184,567 | 290,638 | ||||||
Asian Paints Ltd. | 56,489 | 2,380,076 | ||||||
Astral Ltd. | 8,033 | 207,015 | ||||||
AU Small Finance Bank Ltd., 144A* | 19,570 | 312,611 | ||||||
Aurobindo Pharma Ltd. | 27,025 | 224,259 | ||||||
Avenue Supermarts Ltd., 144A* | 20,523 | 1,182,216 | ||||||
Axis Bank Ltd., GDR* | 15,970 | 776,142 | ||||||
Axis Bank Ltd.* | 258,482 | 2,546,827 | ||||||
Bajaj Auto Ltd. | 5,052 | 236,708 | ||||||
Bajaj Finance Ltd. | 21,921 | 2,037,193 | ||||||
Bajaj Finserv Ltd. | 3,364 | 714,904 | ||||||
Bajaj Holdings & Investment Ltd. | 3,260 | 225,088 | ||||||
Balkrishna Industries Ltd. | 8,439 | 204,128 | ||||||
Bandhan Bank Ltd., 144A | 95,160 | 386,841 | ||||||
Bank of Baroda* | 105,822 | 149,644 | ||||||
Berger Paints India Ltd. | 34,012 | 311,670 | ||||||
Bharat Forge Ltd. | 31,721 | 285,709 | ||||||
Bharti Airtel Ltd.* | 208,547 | 1,900,096 | ||||||
Biocon Ltd.* | 57,888 | 268,015 | ||||||
Bosch Ltd. | 348 | 72,737 | ||||||
Britannia Industries Ltd. | 6,992 | 318,056 | ||||||
Cadila Healthcare Ltd. | 21,432 | 102,513 | ||||||
Cholamandalam Investment and Finance Co. Ltd. | 56,489 | 518,014 | ||||||
Cipla Ltd. | 44,733 | 549,192 | ||||||
Colgate-Palmolive India Ltd. | 17,704 | 340,793 | ||||||
Container Corp. Of India Ltd. | 23,765 | 188,991 | ||||||
Dabur India Ltd. | 58,352 | 436,280 | ||||||
Dalmia Bharat Ltd. | 10,419 | 216,684 | ||||||
Deepak Nitrite Ltd. | 11,621 | 308,318 | ||||||
Divi’s Laboratories Ltd. | 12,113 | 685,649 | ||||||
DLF Ltd. | 62,078 | 288,979 | ||||||
Dr. Reddy’s Laboratories Ltd. | 16,263 | 877,044 | ||||||
Eicher Motors Ltd. | 8,767 | 301,334 | ||||||
Embassy Office Parks REIT | 120,321 | 597,090 | ||||||
Gland Pharma Ltd., 144A* | 4,923 | 213,209 | ||||||
Godrej Consumer Products Ltd.* | 58,295 | 594,149 | ||||||
Godrej Properties Ltd.* | 12,579 | 250,779 | ||||||
Grasim Industries Ltd. | 28,739 | 609,699 | ||||||
Havells India Ltd. | 34,948 | 549,956 | ||||||
HCL Technologies Ltd. | 90,503 | 1,353,626 | ||||||
HDFC Asset Management Co. Ltd., 144A | 6,987 | 193,454 | ||||||
HDFC Life Insurance Co. Ltd., 144A | 112,868 | 783,736 |
Number | Value | |||||||
India (Continued) | ||||||||
Hero MotoCorp Ltd. | 12,582 | $ | 423,385 | |||||
Hindalco Industries Ltd. | 118,745 | 904,210 | ||||||
Hindustan Unilever Ltd. | 72,913 | 2,101,919 | ||||||
Honeywell Automation India Ltd. | 218 | 118,482 | ||||||
Housing Development Finance Corp. Ltd. | 238,103 | 7,471,974 | ||||||
ICICI Bank Ltd. | 457,922 | 4,513,735 | ||||||
ICICI Lombard General Insurance Co. Ltd., 144A | 26,118 | 438,076 | ||||||
ICICI Prudential Life Insurance Co. Ltd., 144A | 48,705 | 309,725 | ||||||
IDFC First Bank Ltd.* | 339,914 | 189,925 | ||||||
Indian Railway Catering & Tourism Corp. Ltd. | 26,746 | 287,294 | ||||||
Indus Towers Ltd.* | 65,805 | 187,858 | ||||||
Info Edge India Ltd. | 8,854 | 523,420 | ||||||
Infosys Ltd., ADR | 146,236 | 3,284,461 | ||||||
Infosys Ltd. | 343,736 | 7,826,583 | ||||||
InterGlobe Aviation Ltd., 144A* | 7,454 | 185,481 | ||||||
JSW Energy Ltd. | 75,069 | 338,943 | ||||||
JSW Steel Ltd. | 90,967 | 757,520 | ||||||
Jubilant Foodworks Ltd. | 8,856 | 342,087 | ||||||
Kansai Nerolac Paints Ltd. | 13,977 | 84,338 | ||||||
Kotak Mahindra Bank Ltd. | 98,488 | 2,408,690 | ||||||
L&T Technology Services Ltd., 144A | 2,918 | 175,514 | ||||||
Larsen & Toubro Infotech Ltd., 144A | 5,589 | 433,917 | ||||||
Laurus Labs Ltd., 144A | 38,779 | 278,719 | ||||||
Lupin Ltd. | 19,568 | 193,700 | ||||||
Mahindra & Mahindra Ltd. | 92,378 | 969,603 | ||||||
Marico Ltd. | 69,066 | 471,791 | ||||||
Maruti Suzuki India Ltd. | 10,285 | 1,134,889 | ||||||
Max Financial Services Ltd.* | 28,735 | 316,458 | ||||||
Mindtree Ltd. | 6,525 | 336,107 | ||||||
Motherson Sumi Systems Ltd. | 92,192 | 184,084 | ||||||
Motherson Sumi Wiring India Ltd.* (b) | 92,192 | 42,580 | ||||||
Mphasis Ltd. | 9,193 | 379,286 | ||||||
MRF Ltd. | 434 | 378,666 | ||||||
Muthoot Finance Ltd. | 14,447 | 260,524 | ||||||
Nestle India Ltd. | 3,261 | 763,413 | ||||||
NHPC Ltd. | 287,826 | 104,667 | ||||||
NMDC Ltd. | 65,806 | 125,022 | ||||||
Oracle Financial Services Software Ltd. | 3,725 | 167,571 | ||||||
Page Industries Ltd. | 467 | 261,902 | ||||||
PI Industries Ltd. | 9,787 | 320,618 | ||||||
Pidilite Industries Ltd. | 12,421 | 396,125 | ||||||
Piramal Enterprises Ltd. | 10,304 | 283,113 | ||||||
Polycab India Ltd. | 4,177 | 131,653 | ||||||
Power Finance Corp. Ltd. | 84,447 | 123,116 | ||||||
Power Grid Corp. of India Ltd. | 270,035 | 749,565 | ||||||
Punjab National Bank* | 205,373 | 95,126 | ||||||
REC Ltd. | 84,911 | 138,105 | ||||||
SBI Cards & Payment Services Ltd.* | 21,350 | 222,589 | ||||||
SBI Life Insurance Co. Ltd., 144A | 49,715 | 699,497 | ||||||
Shree Cement Ltd. | 802 | 259,870 | ||||||
Shriram Transport Finance Co. Ltd. | 17,705 | 264,162 | ||||||
Siemens Ltd. | 5,593 | 174,250 | ||||||
SRF Ltd. | 16,300 | 515,657 |
See Notes to Financial Statements. | 17 |
DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
India (Continued) | ||||||||
State Bank of India | 266,946 | $ | 1,711,912 | |||||
Steel Authority of India Ltd. | 157,543 | 201,457 | ||||||
Sun Pharmaceutical Industries Ltd. | 82,169 | 920,302 | ||||||
Tata Communications Ltd. | 11,819 | 185,604 | ||||||
Tata Consultancy Services Ltd. | 132,038 | 6,228,335 | ||||||
Tata Consumer Products Ltd. | 81,648 | 778,689 | ||||||
Tata Elxsi Ltd. | 3,984 | 340,084 | ||||||
Tata Motors Ltd.* | 147,245 | 887,310 | ||||||
Tata Motors Ltd., Class A* | 24,360 | 70,092 | ||||||
Tata Power Co. Ltd. | 132,392 | 391,918 | ||||||
Tata Steel Ltd. | 56,792 | 920,121 | ||||||
Tech Mahindra Ltd. | 54,101 | 1,012,408 | ||||||
Titan Co. Ltd. | 32,153 | 1,086,688 | ||||||
Torrent Pharmaceuticals Ltd. | 6,521 | 237,992 | ||||||
Trent Ltd. | 19,224 | 282,718 | ||||||
UltraTech Cement Ltd. | 9,786 | 853,027 | ||||||
UPL Ltd. | 41,005 | 362,146 | ||||||
Varun Beverages Ltd. | 16,389 | 205,658 | ||||||
Vedanta Ltd. | 59,290 | 299,253 | ||||||
Voltas Ltd. | 27,026 | 453,073 | ||||||
Wipro Ltd. | 195,283 | 1,440,503 | ||||||
Yes Bank Ltd.* | 2,173,312 | 382,181 | ||||||
|
| |||||||
(Cost $98,907,796) | 93,564,584 | |||||||
|
| |||||||
Indonesia — 2.0% | ||||||||
Aneka Tambang Tbk | 1,038,467 | 160,465 | ||||||
PT Bank Central Asia Tbk | 8,159,797 | 4,572,031 | ||||||
PT Bank Jago Tbk* | 752,298 | 846,970 | ||||||
PT Bank Mandiri Persero Tbk | 2,628,708 | 1,408,857 | ||||||
PT Bank Negara Indonesia Persero Tbk | 705,182 | 392,668 | ||||||
PT Bank Rakyat Indonesia Persero Tbk | 9,664,695 | 3,060,789 | ||||||
PT Barito Pacific Tbk | 3,506,284 | 217,206 | ||||||
PT Chandra Asri Petrochemical Tbk | 455,459 | 286,108 | ||||||
PT Charoen Pokphand Indonesia Tbk | 438,950 | 177,205 | ||||||
PT Elang Mahkota Teknologi Tbk* | 2,186,824 | 315,078 | ||||||
PT Indah Kiat Pulp & Paper Tbk | 246,937 | 138,791 | ||||||
PT Indocement Tunggal Prakarsa Tbk | 235,751 | 179,681 | ||||||
PT Indofood CBP Sukses Makmur Tbk | 183,132 | 108,347 | ||||||
PT Indofood Sukses Makmur Tbk | 352,117 | 151,954 | ||||||
PT Kalbe Farma Tbk | 1,837,791 | 210,424 | ||||||
PT Merdeka Copper Gold Tbk* | 1,297,745 | 349,570 | ||||||
PT Sarana Menara Nusantara Tbk | 2,886,628 | 207,953 | ||||||
PT Semen Indonesia Persero Tbk | 317,173 | 158,951 | ||||||
PT Telkom Indonesia Persero Tbk | 4,303,062 | 1,299,874 | ||||||
PT Tower Bersama Infrastructure Tbk | 807,810 | 165,307 | ||||||
PT Unilever Indonesia Tbk | 894,134 | 229,026 | ||||||
|
| |||||||
(Cost $13,413,245) | 14,637,255 | |||||||
|
| |||||||
Kuwait — 0.7% | ||||||||
Agility Public Warehousing Co. KSC | 139,894 | 469,393 | ||||||
Boubyan Bank KSCP* | 131,973 | 358,698 | ||||||
Kuwait Finance House KSCP | 386,070 | 1,203,600 | ||||||
Mabanee Co KPSC | 47,699 | 133,582 | ||||||
Mobile Telecommunications Co. KSCP | 277,554 | 568,308 | ||||||
National Bank of Kuwait SAKP | 604,742 | 2,107,011 | ||||||
|
| |||||||
(Cost $4,468,433) | 4,840,592 | |||||||
|
|
Number | Value | |||||||
Malaysia — 0.9% | ||||||||
AMMB Holdings Bhd* | 203,200 | $ | 162,618 | |||||
Axiata Group Bhd | 279,352 | 261,487 | ||||||
CIMB Group Holdings Bhd | 347,493 | 472,594 | ||||||
DiGi.Com Bhd | 183,400 | 176,913 | ||||||
Greatech Technology Bhd* | 61,300 | 60,884 | ||||||
Hartalega Holdings Bhd | 93,000 | 102,336 | ||||||
Hong Leong Bank Bhd | 62,800 | 300,052 | ||||||
IHH Healthcare Bhd | 93,300 | 146,000 | ||||||
Inari Amertron Bhd | 279,500 | 214,360 | ||||||
IOI Corp. Bhd | 106,000 | 116,137 | ||||||
Kossan Rubber Industries Bhd | 93,100 | 38,362 | ||||||
Kuala Lumpur Kepong Bhd | 29,700 | 183,923 | ||||||
Malayan Banking Bhd | 273,557 | 570,765 | ||||||
Malaysia Airports Holdings Bhd* | 46,900 | 68,699 | ||||||
Malaysian Pacific Industries Bhd | 8,000 | 68,177 | ||||||
Maxis Bhd | 181,800 | 174,071 | ||||||
MISC Bhd | 49,500 | 86,656 | ||||||
MR DIY Group M Bhd, 144A | 232,800 | 201,278 | ||||||
Nestle Malaysia Bhd | 5,319 | 169,762 | ||||||
Petronas Chemicals Group Bhd | 139,500 | 317,310 | ||||||
PPB Group Bhd | 46,700 | 199,547 | ||||||
Press Metal Aluminium Holdings Bhd | 169,400 | 275,575 | ||||||
Public Bank Bhd | 955,600 | 1,012,843 | ||||||
QL Resources Bhd | 66,000 | 77,813 | ||||||
RHB Bank Bhd | 188,649 | 265,102 | ||||||
Sime Darby Bhd | 140,000 | 75,694 | ||||||
Sime Darby Plantation Bhd | 93,500 | 109,345 | ||||||
Supermax Corp. Bhd | 95,238 | 23,818 | ||||||
Telekom Malaysia Bhd | 139,600 | 168,245 | ||||||
TIME dotCom Bhd | 93,300 | 94,444 | ||||||
Top Glove Corp. Bhd | 372,500 | 181,880 | ||||||
Westports Holdings Bhd | 93,100 | 86,703 | ||||||
|
| |||||||
(Cost $6,425,185) | 6,463,393 | |||||||
|
| |||||||
Mexico — 2.3% | ||||||||
Alfa SAB de CV, Class A | 477,910 | 358,798 | ||||||
America Movil SAB de CV, Series L | 2,507,070 | 2,271,179 | ||||||
Arca Continental SAB de CV | 41,006 | 271,172 | ||||||
Cemex SAB de CV, Series CPO* | 1,305,850 | 672,338 | ||||||
Coca-Cola Femsa SAB de CV | 75,829 | 417,435 | ||||||
El Puerto de Liverpool SAB de CV, Class C1 | 16,203 | 78,872 | ||||||
Fibra Uno Administracion SA de CV REIT | 298,536 | 337,218 | ||||||
Fomento Economico Mexicano SAB de CV | 182,570 | 1,474,588 | ||||||
Gruma SAB de CV, Class B | 12,674 | 172,297 | ||||||
Grupo Aeroportuario del Pacifico SAB de CV, Class B* | 35,413 | 516,329 | ||||||
Grupo Aeroportuario del Sureste SAB de CV, Class B | 12,112 | 262,549 | ||||||
Grupo Bimbo SAB de CV, Series A | 117,751 | 363,468 | ||||||
Grupo Elektra SAB DE CV | 6,992 | 459,817 | ||||||
Grupo Financiero Banorte SAB de CV, Class O | 423,448 | 2,871,136 | ||||||
Grupo Financiero Inbursa SAB de CV, Class O* | 188,171 | 307,410 | ||||||
Grupo Mexico SAB de CV, Series B | 287,353 | 1,477,655 |
See Notes to Financial Statements. | 18 |
DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Mexico (Continued) | ||||||||
Grupo Televisa SAB, Series CPO | 398,820 | $ | 856,880 | |||||
Industrias Penoles SAB de CV | 12,114 | 151,552 | ||||||
Kimberly-Clark de Mexico SAB de CV, Class A | 265,106 | 372,893 | ||||||
Orbia Advance Corp. SAB de CV | 98,659 | 252,629 | ||||||
Telesites SAB de CV | 180,253 | 200,345 | ||||||
Wal-Mart de Mexico SAB de CV | 738,955 | 2,817,305 | ||||||
|
| |||||||
(Cost $16,742,915) | 16,963,865 | |||||||
|
| |||||||
Peru — 0.2% | ||||||||
Credicorp Ltd. | 7,930 | 1,199,412 | ||||||
Credicorp Ltd. | 1,733 | 259,950 | ||||||
InRetail Peru Corp., 144A | 4,448 | 157,415 | ||||||
Intercorp Financial Services, Inc. (a) | 4,120 | 133,076 | ||||||
|
| |||||||
(Cost $1,422,951) | 1,749,853 | |||||||
|
| |||||||
Philippines — 0.6% | ||||||||
Ayala Corp. | 23,320 | 386,620 | ||||||
Ayala Land, Inc. | 540,300 | 410,995 | ||||||
Bank of the Philippine Islands | 260,930 | 508,933 | ||||||
BDO Unibank, Inc. | 260,910 | 657,491 | ||||||
Globe Telecom, Inc. | 1,900 | 95,167 | ||||||
International Container Terminal Services, Inc. | 74,530 | 306,144 | ||||||
Jollibee Foods Corp. | 41,950 | 197,190 | ||||||
Metropolitan Bank & Trust Co. | 139,600 | 155,474 | ||||||
PLDT, Inc. | 6,995 | 245,446 | ||||||
SM Investments Corp. | 37,570 | 653,646 | ||||||
SM Prime Holdings, Inc. | 978,200 | 759,360 | ||||||
Universal Robina Corp. | 74,560 | 174,511 | ||||||
|
| |||||||
(Cost $4,323,234) | 4,550,977 | |||||||
|
| |||||||
Qatar — 1.1% | ||||||||
Commercial Bank PSQC | 162,669 | 308,271 | ||||||
Industries Qatar QSC | 273,849 | 1,376,390 | ||||||
Masraf Al Rayan QSC | 359,692 | 493,947 | ||||||
Mesaieed Petrochemical Holding Co. | 597,379 | 438,067 | ||||||
Ooredoo QPSC | 90,567 | 190,910 | ||||||
Qatar International Islamic Bank QSC | 122,187 | �� | 343,976 | |||||
Qatar Islamic Bank SAQ | 102,975 | 596,469 | ||||||
Qatar National Bank QPSC | 663,906 | 3,975,048 | ||||||
|
| |||||||
(Cost $6,852,169) | 7,723,078 | |||||||
|
| |||||||
Russia — 0.2% | ||||||||
Alrosa PJSC (b) | 246,725 | 93,198 | ||||||
MMC Norilsk Nickel PJSC (b) | 5,593 | 597,891 | ||||||
Mobile TeleSystems PJSC, ADR (b) | 25,457 | 65,918 | ||||||
Mobile TeleSystems PJSC (b) | 32,151 | 33,186 | ||||||
Novolipetsk Steel PJSC (b) | 121,611 | 62,856 | ||||||
PIK Group PJSC (b) | 21,692 | 47,830 | ||||||
Polymetal International PLC (b) | 28,889 | 106,155 | ||||||
Polyus PJSC (b) | 2,793 | 199,813 | ||||||
Sberbank of Russia PJSC (b) | 989,954 | 313,338 | ||||||
United Co RUSAL International PJSC* (b) | 255,320 | 69,866 | ||||||
Yandex NV, Class A* (b) | 28,401 | 240,759 | ||||||
|
| |||||||
(Cost $10,259,194) | 1,830,810 | |||||||
|
|
Number | Value | |||||||
Saudi Arabia — 2.8% | ||||||||
Advanced Petrochemical Co. | 13,514 | $ | 270,158 | |||||
Al Rajhi Bank | 108,287 | 4,629,697 | ||||||
Alinma Bank | 113,135 | 1,070,526 | ||||||
Almarai Co. JSC | 35,094 | 468,643 | ||||||
Arab National Bank | 78,979 | 589,443 | ||||||
Arabian Centres Co. Ltd. | 24,229 | 146,600 | ||||||
Bank AlBilad* | 42,165 | 661,971 | ||||||
Banque Saudi Fransi | 73,261 | 1,036,906 | ||||||
BinDawood Holding Co. | 2,910 | 69,653 | ||||||
Bupa Arabia for Cooperative Insurance Co. | 6,989 | 301,788 | ||||||
Dar Al Arkan Real Estate Development Co.* | 71,398 | 208,197 | ||||||
Dr Sulaiman Al Habib Medical Services Group Co. | 10,253 | 467,872 | ||||||
Etihad Etisalat Co. | 46,650 | 433,959 | ||||||
Jarir Marketing Co. | 7,920 | 440,786 | ||||||
Mouwasat Medical Services Co. | 6,057 | 334,841 | ||||||
National Industrialization Co.* | 42,864 | 257,753 | ||||||
National Petrochemical Co. | 16,308 | 195,607 | ||||||
Riyad Bank | 130,444 | 1,234,310 | ||||||
Sahara International Petrochemical Co. | 48,048 | 596,806 | ||||||
Saudi British Bank | 89,808 | 926,399 | ||||||
Saudi Industrial Investment Group | 30,287 | 284,569 | ||||||
Saudi Kayan Petrochemical Co.* | 92,833 | 503,298 | ||||||
Saudi National Bank | 197,059 | 3,582,222 | ||||||
Saudi Telecom Co. | 53,440 | 1,623,840 | ||||||
Savola Group | 33,085 | 298,953 | ||||||
|
| |||||||
(Cost $18,365,717) | 20,634,797 | |||||||
|
| |||||||
Singapore — 0.0% | ||||||||
BOC Aviation Ltd., 144A | 13,979 | 121,207 | ||||||
|
| |||||||
South Africa — 3.3% | ||||||||
Absa Group Ltd. | 91,667 | 1,047,860 | ||||||
Anglo American Platinum Ltd. | 3,827 | 594,389 | ||||||
AngloGold Ashanti Ltd. | 34,479 | 811,029 | ||||||
Aspen Pharmacare Holdings Ltd. | 34,016 | 442,467 | ||||||
Bid Corp. Ltd. | 29,354 | 593,444 | ||||||
Bidvest Group Ltd. | 19,102 | 260,128 | ||||||
Capitec Bank Holdings Ltd. | 5,594 | 750,941 | ||||||
Clicks Group Ltd. (a) | 22,833 | 441,736 | ||||||
Discovery Ltd.* | 53,465 | 545,981 | ||||||
FirstRand Ltd. | 549,326 | 2,350,522 | ||||||
Gold Fields Ltd. | 97,345 | 1,353,349 | ||||||
Harmony Gold Mining Co. Ltd. | 67,441 | 293,245 | ||||||
Impala Platinum Holdings Ltd. | 73,034 | 1,389,170 | ||||||
Investec Ltd. | 23,164 | 129,592 | ||||||
Kumba Iron Ore Ltd. | 5,123 | 200,398 | ||||||
MTN Group Ltd.* | 147,581 | 1,829,899 | ||||||
MultiChoice Group | 38,672 | 315,382 | ||||||
Naspers Ltd., Class N | 19,537 | 2,438,202 | ||||||
Nedbank Group Ltd. | 58,945 | 833,832 | ||||||
Northam Platinum Holdings Ltd.* | 29,103 | 467,588 | ||||||
Old Mutual Ltd. | 720,828 | 587,765 | ||||||
Pepkor Holdings Ltd., 144A | 106,170 | 150,813 | ||||||
Rand Merchant Investment Holdings Ltd. | 92,599 | 289,917 |
See Notes to Financial Statements. | 19 |
DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
South Africa (Continued) | ||||||||
Sanlam Ltd. | 256,719 | $ | 1,074,224 | |||||
Shoprite Holdings Ltd. | 37,276 | 552,416 | ||||||
Sibanye Stillwater Ltd. | 246,019 | 1,136,281 | ||||||
Standard Bank Group Ltd. | 198,424 | 2,088,444 | ||||||
Vodacom Group Ltd. | 52,293 | 500,883 | ||||||
Woolworths Holdings Ltd. | 146,181 | 477,731 | ||||||
|
| |||||||
(Cost $22,305,164) | 23,947,628 | |||||||
|
| |||||||
South Korea — 10.4% | ||||||||
Alteogen, Inc.* | 2,796 | 124,179 | ||||||
Amorepacific Corp. | 2,332 | 356,874 | ||||||
AMOREPACIFIC Group | 1,865 | 75,695 | ||||||
BGF retail Co. Ltd. | 934 | 131,670 | ||||||
BNK Financial Group, Inc. | 41,005 | 268,740 | ||||||
Celltrion Healthcare Co. Ltd. | 8,491 | 448,437 | ||||||
Celltrion Pharm, Inc.* | 1,895 | 138,537 | ||||||
Celltrion, Inc. | 8,016 | 1,063,378 | ||||||
Cheil Worldwide, Inc. | 6,988 | 130,769 | ||||||
Chong Kun Dang Pharmaceutical Corp. | 980 | 78,328 | ||||||
CJ CheilJedang Corp. | 514 | 161,807 | ||||||
CJ Corp. | 932 | 65,190 | ||||||
CJ ENM Co. Ltd. | 1,399 | 151,262 | ||||||
Coway Co. Ltd. | 7,458 | 447,226 | ||||||
CS Wind Corp. | 2,331 | 115,547 | ||||||
Daewoo Engineering & Construction Co. Ltd.* | 16,441 | 85,736 | ||||||
DB Insurance Co. Ltd. | 6,058 | 311,377 | ||||||
DL E&C Co. Ltd. | 2,327 | 248,696 | ||||||
Dongsuh Cos., Inc. | 3,479 | 79,427 | ||||||
Doosan Bobcat, Inc. | 3,260 | 103,438 | ||||||
Doosan Co. Ltd.* | 932 | 87,979 | ||||||
Doosan Fuel Cell Co. Ltd.* | 4,195 | 135,373 | ||||||
Doosan Heavy Industries & Construction Co. Ltd.* | 28,630 | 495,283 | ||||||
Douzone Bizon Co. Ltd. | 2,796 | 112,319 | ||||||
Ecopro BM Co. Ltd. | 469 | 146,354 | ||||||
E-MART, Inc. | 1,399 | 151,262 | ||||||
F&F Co. Ltd. / New | 382 | 282,763 | ||||||
Fila Holdings Corp. | 4,658 | 136,368 | ||||||
Genexine, Inc.* | 2,328 | 89,937 | ||||||
Green Cross Corp. | 467 | 70,690 | ||||||
GS Engineering & Construction Corp. | 3,726 | 132,789 | ||||||
Hana Financial Group, Inc. | 36,934 | 1,495,975 | ||||||
Hanjin Kal Corp.* | 1,665 | 72,978 | ||||||
Hankook Tire & Technology Co. Ltd. | 6,989 | 204,610 | ||||||
Hanmi Pharm. Co. Ltd.* | 474 | 104,470 | ||||||
Hanmi Science Co. Ltd.* | 2,357 | 89,097 | ||||||
Hanon Systems | 13,977 | 134,266 | ||||||
Hansol Chemical Co. Ltd. | 933 | 166,448 | ||||||
Hanssem Co. Ltd. | 1,219 | 74,011 | ||||||
Hanwha Life Insurance Co. Ltd.* | 68,135 | 167,455 | ||||||
Hanwha Solutions Corp.* | 8,853 | 249,240 | ||||||
Helixmith Co. Ltd.* | 5,240 | 87,598 | ||||||
HLB, Inc.* | 6,059 | 156,722 | ||||||
HMM Co. Ltd.* | 33,546 | 804,925 | ||||||
Hugel, Inc. | 930 | 113,548 | ||||||
HYBE Co. Ltd.* | 1,471 | 352,962 |
Number | Value | |||||||
South Korea (Continued) | ||||||||
Hyosung Advanced Materials Corp. | 245 | $ | 94,548 | |||||
Hyosung TNC Corp. | 244 | 97,815 | ||||||
Hyundai Autoever Corp. | 728 | 65,089 | ||||||
Hyundai Department Store Co. Ltd. | 1,247 | 80,689 | ||||||
Hyundai Doosan Infracore Co. Ltd.* | 14,964 | 84,132 | ||||||
Hyundai Elevator Co. Ltd.* | 3,262 | 102,417 | ||||||
Hyundai Engineering & Construction Co. Ltd. | 5,614 | 202,176 | ||||||
Hyundai Glovis Co. Ltd. | 1,400 | 204,932 | ||||||
Hyundai Marine & Fire Insurance Co. Ltd. | 8,386 | 200,871 | ||||||
Hyundai Mipo Dockyard Co. Ltd. | 2,332 | 154,775 | ||||||
Hyundai Mobis Co. Ltd. | 4,619 | 860,528 | ||||||
Hyundai Motor Co. | 10,810 | 1,573,377 | ||||||
Hyundai Steel Co. | 7,455 | 246,154 | ||||||
Iljin Materials Co. Ltd. | 860 | 65,018 | ||||||
Industrial Bank of Korea | 20,967 | 187,462 | ||||||
Kakao Corp. | 23,506 | 1,839,660 | ||||||
Kakao Games Corp.* | 4,196 | 256,503 | ||||||
KakaoBank Corp.* | 23,321 | 931,017 | ||||||
KB Financial Group, Inc. | 46,098 | 2,288,893 | ||||||
KCC Corp. | 467 | 128,757 | ||||||
Kia Corp. | 20,038 | 1,229,928 | ||||||
KIWOOM Securities Co. Ltd.* | 1,861 | 157,102 | ||||||
KMW Co. Ltd. | 3,261 | 84,213 | ||||||
Korea Gas Corp. | 2,566 | 87,607 | ||||||
Korea Investment Holdings Co. Ltd.* | 2,798 | 184,307 | ||||||
Korea Zinc Co. Ltd. | 873 | 399,343 | ||||||
Korean Air Lines Co. Ltd.* | 17,705 | 431,452 | ||||||
KT Corp. | 6,250 | 166,341 | ||||||
Kumho Petrochemical Co. Ltd.* | 1,397 | 186,484 | ||||||
L&F Co. Ltd. | 2,569 | 416,647 | ||||||
LEENO Industrial, Inc. | 1,398 | 209,406 | ||||||
LG Chem Ltd. | 3,868 | 1,817,624 | ||||||
LG Corp. | 8,390 | 524,746 | ||||||
LG Display Co. Ltd. | 20,036 | 311,617 | ||||||
LG Electronics, Inc. | 13,981 | 1,436,066 | ||||||
LG Household & Health Care Ltd. | 1,211 | 956,835 | ||||||
LG Innotek Co. Ltd. | 935 | 254,290 | ||||||
LG Uplus Corp. | 34,013 | 371,997 | ||||||
Lotte Chemical Corp. | 1,081 | 197,796 | ||||||
Lotte Shopping Co. Ltd. | 1,134 | 80,451 | ||||||
LS Corp. | 2,793 | 113,128 | ||||||
Mando Corp. | 3,729 | 140,650 | ||||||
MedPacto, Inc.* | 1,532 | 44,277 | ||||||
Meritz Financial Group, Inc. | 3,814 | 116,893 | ||||||
Meritz Fire & Marine Insurance Co. Ltd. | 5,125 | 175,188 | ||||||
Meritz Securities Co. Ltd. | 37,275 | 181,670 | ||||||
Mirae Asset Securities Co. Ltd. | 46,650 | 341,043 | ||||||
NAVER Corp. | 11,184 | 2,957,967 | ||||||
NCSoft Corp. | 1,344 | 495,749 | ||||||
Netmarble Corp., 144A | 1,861 | 158,650 | ||||||
NH Investment & Securities Co. Ltd. | 11,646 | 111,874 | ||||||
Orion Corp. | 1,400 | 106,541 | ||||||
Pan Ocean Co. Ltd. | 18,638 | 101,844 | ||||||
Pearl Abyss Corp.* | 2,797 | 221,229 | ||||||
S-1 Corp. | 2,328 | 135,147 |
See Notes to Financial Statements. | 20 |
DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
South Korea (Continued) | ||||||||
Samsung Biologics Co. Ltd., 144A* | 1,150 | $ | 745,083 | |||||
Samsung C&T Corp. | 6,524 | 596,864 | ||||||
Samsung Electro-Mechanics Co. Ltd. | 4,661 | 643,511 | ||||||
Samsung Electronics Co. Ltd. | 420,776 | 25,232,212 | ||||||
Samsung Engineering Co. Ltd.* | 13,510 | 260,683 | ||||||
Samsung Fire & Marine Insurance Co. Ltd. | 4,659 | 738,171 | ||||||
Samsung Life Insurance Co. Ltd. | 10,250 | 509,793 | ||||||
Samsung SDI Co. Ltd. | 4,094 | 1,865,939 | ||||||
Samsung SDS Co. Ltd. | 2,796 | 325,562 | ||||||
Samsung Securities Co. Ltd. | 8,387 | 295,064 | ||||||
Seegene, Inc. | 3,730 | 159,146 | ||||||
Shin Poong Pharmaceutical Co. Ltd.* | 3,727 | 107,562 | ||||||
Shinhan Financial Group Co. Ltd. | 63,361 | 2,057,843 | ||||||
Shinsegae, Inc. | 468 | 101,786 | ||||||
SK Biopharmaceuticals Co. Ltd.* | 2,798 | 196,873 | ||||||
SK Bioscience Co. Ltd.* | 1,779 | 216,022 | ||||||
SK Chemicals Co. Ltd. | 1,398 | 145,340 | ||||||
SK Hynix, Inc. | 41,535 | 4,266,289 | ||||||
SK IE Technology Co. Ltd., 144A* | 2,796 | 287,193 | ||||||
SK Telecom Co. Ltd. | 5,625 | 255,437 | ||||||
SKC Co. Ltd. | 952 | 108,870 | ||||||
Solus Advanced Materials Co. Ltd. | 1,316 | 68,955 | ||||||
Soulbrain Co. Ltd./New | 469 | 88,663 | ||||||
SSANGYONG C&E Co. Ltd. | 18,172 | 114,562 | ||||||
Studio Dragon Corp.* | 1,861 | 132,028 | ||||||
Wemade Co. Ltd. | 1,864 | 169,137 | ||||||
WONIK IPS Co. Ltd. | 5,125 | 152,810 | ||||||
Woori Financial Group, Inc. | 45,870 | 545,549 | ||||||
Yuhan Corp. | 2,402 | 116,070 | ||||||
|
| |||||||
(Cost $85,318,789) | 75,775,667 | |||||||
|
| |||||||
Taiwan — 19.9% | ||||||||
Accton Technology Corp. | 59,226 | 532,368 | ||||||
Acer, Inc. | 468,779 | 481,571 | ||||||
Advantech Co. Ltd. | 36,346 | 475,149 | ||||||
ASE Technology Holding Co. Ltd. | 285,360 | 1,010,745 | ||||||
Asia Cement Corp. | 168,257 | 270,676 | ||||||
ASMedia Technology, Inc. | 3,262 | 197,803 | ||||||
Asustek Computer, Inc. | 90,228 | 1,195,638 | ||||||
AU Optronics Corp. | 1,278,970 | 937,501 | ||||||
Catcher Technology Co. Ltd. | 63,941 | 326,148 | ||||||
Cathay Financial Holding Co. Ltd. | 1,087,985 | 2,417,744 | ||||||
Chailease Holding Co. Ltd. | 188,941 | 1,691,607 | ||||||
Chang Hwa Commercial Bank Ltd. | 724,430 | 457,372 | ||||||
Cheng Shin Rubber Industry Co. Ltd. | 176,648 | 224,315 | ||||||
Chicony Electronics Co. Ltd. | 61,613 | 196,915 | ||||||
China Airlines Ltd. * | 292,486 | 291,078 | ||||||
China Development Financial Holding Corp.* | 259,946 | 86,417 | ||||||
China Development Financial Holding Corp. | 2,493,276 | 1,685,307 | ||||||
China Steel Corp. | 1,035,010 | 1,329,066 | ||||||
Chroma ATE, Inc. | 49,447 | 332,469 | ||||||
Chunghwa Telecom Co. Ltd. | 339,549 | 1,507,895 | ||||||
Compal Electronics, Inc. | 538,036 | 487,466 | ||||||
CTBC Financial Holding Co. Ltd. | 2,693,112 | 2,608,097 |
Number | Value | |||||||
Taiwan (Continued) | ||||||||
Delta Electronics, Inc. | 269,848 | $ | 2,372,660 | |||||
E.Sun Financial Holding Co. Ltd. | 1,739,424 | 1,827,217 | ||||||
Eclat Textile Co. Ltd. | 28,420 | 586,951 | ||||||
eMemory Technology, Inc. | 7,000 | 460,674 | ||||||
Eva Airways Corp.* | 254,281 | 292,512 | ||||||
Evergreen Marine Corp. Taiwan Ltd. | 238,436 | 1,220,459 | ||||||
Far Eastern New Century Corp. | 240,769 | 253,780 | ||||||
Far EasTone Telecommunications Co. Ltd. | 252,415 | 623,947 | ||||||
Feng TAY Enterprise Co. Ltd. | 64,876 | 479,020 | ||||||
First Financial Holding Co. Ltd. | 1,494,201 | 1,369,751 | ||||||
Formosa Chemicals & Fibre Corp. | 300,094 | 845,637 | ||||||
Formosa Plastics Corp. | 281,306 | 1,053,580 | ||||||
Formosa Sumco Technology Corp. | 7,000 | 64,170 | ||||||
Foxconn Technology Co. Ltd. | 75,865 | 172,648 | ||||||
Fubon Financial Holding Co. Ltd. | 1,043,732 | 2,795,943 | ||||||
Giant Manufacturing Co. Ltd. | 28,887 | 298,298 | ||||||
Globalwafers Co. Ltd. | 19,569 | 480,238 | ||||||
Highwealth Construction Corp. | 99,819 | 174,287 | ||||||
Hiwin Technologies Corp. | 20,585 | 194,212 | ||||||
Hon Hai Precision Industry Co. Ltd. | 1,034,282 | 3,799,930 | ||||||
Hotai Motor Co. Ltd. | 23,766 | 534,067 | ||||||
Hua Nan Financial Holdings Co. Ltd. | 795,773 | 627,308 | ||||||
Innolux Corp. | 835,407 | 499,128 | ||||||
Inventec Corp. | 235,883 | 215,816 | ||||||
Largan Precision Co. Ltd. | 8,386 | 604,235 | ||||||
Lite-On Technology Corp. | 185,967 | 453,724 | ||||||
Macronix International Co. Ltd. | 190,160 | 295,058 | ||||||
MediaTek, Inc. | 127,974 | 4,952,801 | ||||||
Mega Financial Holding Co. Ltd. | 1,484,555 | 1,991,056 | ||||||
Merida Industry Co. Ltd. | 32,614 | 329,223 | ||||||
Micro-Star International Co. Ltd. | 106,811 | 592,442 | ||||||
momo.com, Inc. | 7,457 | 261,467 | ||||||
Nan Ya Plastics Corp. | 433,779 | 1,356,962 | ||||||
Nan Ya Printed Circuit Board Corp. | 24,966 | 466,638 | ||||||
Nanya Technology Corp. | 179,906 | 494,766 | ||||||
Nien Made Enterprise Co. Ltd. | 14,445 | 186,005 | ||||||
Novatek Microelectronics Corp. | 33,551 | 546,318 | ||||||
Oneness Biotech Co. Ltd.* | 28,424 | 250,934 | ||||||
Pegatron Corp. | 157,075 | 387,155 | ||||||
Phison Electronics Corp. | 16,306 | 296,631 | ||||||
Pou Chen Corp. | 209,319 | 239,670 | ||||||
Powerchip Semiconductor Manufacturing Corp. | 280,000 | 532,335 | ||||||
Powertech Technology, Inc. | 64,876 | 217,989 | ||||||
Quanta Computer, Inc. | 237,043 | 785,493 | ||||||
Realtek Semiconductor Corp. | 33,957 | 552,324 | ||||||
Ruentex Development Co. Ltd. | 121,015 | 309,066 | ||||||
Ruentex Industries Ltd. | 51,576 | 211,566 | ||||||
Shanghai Commercial & Savings Bank Ltd. | 503,312 | 822,247 | ||||||
Shin Kong Financial Holding Co. Ltd. | 1,723,694 | 691,691 | ||||||
Silicon Motion Technology Corp., ADR | 4,657 | 337,819 | ||||||
Sino-American Silicon Products, Inc. | 50,841 | 330,054 | ||||||
SinoPac Financial Holdings Co. Ltd. | 1,559,163 | 951,014 | ||||||
Standard Foods Corp. | 47,053 | 85,261 | ||||||
Synnex Technology International Corp. | 85,840 | 220,150 |
See Notes to Financial Statements. | 21 |
DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Taiwan (Continued) | ||||||||
Taishin Financial Holding Co. Ltd. | 1,455,622 | $ | 1,012,471 | |||||
Taiwan Business Bank | 283,163 | 112,114 | ||||||
Taiwan Cement Corp. | 275,100 | 464,633 | ||||||
Taiwan Cooperative Financial Holding Co. Ltd. | 774,899 | 731,089 | ||||||
Taiwan Fertilizer Co. Ltd. | 88,936 | 216,987 | ||||||
Taiwan High Speed Rail Corp. | 345,193 | 363,847 | ||||||
Taiwan Mobile Co. Ltd. | 246,823 | 911,225 | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd. | 3,211,708 | 69,194,636 | ||||||
Tatung Co. Ltd.* | 201,397 | 224,493 | ||||||
Teco Electric and Machinery Co. Ltd. | 191,553 | 205,321 | ||||||
Tripod Technology Corp. | 62,078 | 282,324 | ||||||
Unimicron Technology Corp. | 134,084 | 1,214,815 | ||||||
Uni-President Enterprises Corp. | 373,365 | 893,625 | ||||||
United Microelectronics Corp. | 1,662,852 | 3,090,230 | ||||||
Vanguard International Semiconductor Corp. | 141,231 | 632,227 | ||||||
Voltronic Power Technology Corp. | 7,924 | 407,011 | ||||||
Walsin Lihwa Corp. | 346,181 | 344,514 | ||||||
Walsin Technology Corp.* | 34,943 | 181,975 | ||||||
Wan Hai Lines Ltd. | 72,551 | 483,932 | ||||||
Win Semiconductors Corp. | 29,820 | 321,228 | ||||||
Winbond Electronics Corp. | 273,384 | 321,800 | ||||||
Wistron Corp. | 202,084 | 211,923 | ||||||
Wiwynn Corp. | 9,650 | 339,738 | ||||||
WPG Holdings Ltd. | 109,138 | 216,836 | ||||||
Yageo Corp. | 34,946 | 562,801 | ||||||
Yang Ming Marine Transport Corp.* | 212,114 | 873,878 | ||||||
Yuanta Financial Holding Co. Ltd. | 1,707,852 | 1,513,826 | ||||||
Zhen Ding Technology Holding Ltd. | 90,035 | 295,460 | ||||||
|
| |||||||
(Cost $145,039,573) | 145,362,633 | |||||||
|
| |||||||
Thailand — 2.0% | ||||||||
Advanced Info Service PCL, NVDR | 93,400 | 654,586 | ||||||
Airports of Thailand PCL, NVDR* | 372,600 | 732,657 | ||||||
Asset World Corp. PCL, NVDR* | 1,039,800 | 152,748 | ||||||
Bangkok Bank PCL | 93,100 | 396,049 | ||||||
Bangkok Bank PCL, NVDR | 93,100 | 398,898 | ||||||
Bangkok Commercial Asset Management PCL, NVDR | 246,200 | 165,012 | ||||||
Bangkok Dusit Medical Services PCL, NVDR | 605,700 | 439,329 | ||||||
Bangkok Expressway & Metro PCL | 95,100 | 25,903 | ||||||
Bangkok Expressway & Metro PCL, NVDR | 605,800 | 165,008 | ||||||
Berli Jucker PCL, NVDR | 139,500 | 143,022 | ||||||
BTS Group Holdings PCL, NVDR | 747,100 | 217,213 | ||||||
Bumrungrad Hospital PCL, NVDR | 46,600 | 218,917 | ||||||
Carabao Group PCL, NVDR | 46,500 | 151,561 | ||||||
Central Pattana PCL, NVDR | 186,300 | 315,014 | ||||||
Central Retail Corp. PCL | 232,800 | 272,520 | ||||||
Central Retail Corp. PCL, NVDR | 232,800 | 272,520 | ||||||
Charoen Pokphand Foods PCL, NVDR | 326,300 | 252,152 | ||||||
Com7 PCL, NVDR | 64,000 | 161,591 | ||||||
Energy Absolute PCL, NVDR | 326,200 | 948,401 | ||||||
Fabrinet* | 2,086 | 208,871 |
Number | Value | |||||||
Thailand (Continued) | ||||||||
Hana Microelectronics PCL, NVDR | 66,000 | $ | 103,015 | |||||
Home Product Center PCL, NVDR | 559,200 | 260,133 | ||||||
Indorama Ventures PCL, NVDR | 186,300 | 256,572 | ||||||
Intouch Holdings PCL, Class F | 19,200 | 44,511 | ||||||
Intouch Holdings PCL, NVDR | 186,400 | 432,129 | ||||||
Kasikornbank PCL, NVDR | 233,000 | 1,165,891 | ||||||
KCE Electronics PCL, NVDR | 65,000 | 120,352 | ||||||
Krung Thai Bank PCL, NVDR | 792,300 | 339,471 | ||||||
Krungthai Card PCL | 46,900 | 90,786 | ||||||
Krungthai Card PCL, NVDR | 46,900 | 90,786 | ||||||
Land & Houses PCL, NVDR | 559,200 | 164,294 | ||||||
Minor International PCL, NVDR* | 186,631 | 175,636 | ||||||
Muangthai Capital PCL | 600 | 946 | ||||||
Osotspa PCL | 139,700 | 150,709 | ||||||
Osotspa PCL, NVDR | 139,700 | 150,709 | ||||||
PTT Exploration & Production PCL, NVDR | 107,000 | 446,993 | ||||||
PTT Global Chemical PCL, NVDR | 326,700 | 529,919 | ||||||
SCG Packaging PCL | 93,000 | 174,331 | ||||||
SCG Packaging PCL, NVDR | 93,000 | 174,331 | ||||||
Siam Cement PCL, NVDR | 46,600 | 559,057 | ||||||
Siam Commercial Bank PCL, NVDR | 277,100 | 1,064,301 | ||||||
Siam Global House PCL, NVDR | 261,893 | 157,897 | ||||||
Sri Trang Agro-Industry PCL, NVDR | 79,680 | 65,232 | ||||||
Sri Trang Gloves Thailand PCL | 93,500 | 73,684 | ||||||
Srisawad Corp. PCL, NVDR | 48,000 | 84,836 | ||||||
Thai Union Group PCL, NVDR | 140,000 | 87,406 | ||||||
Tisco Financial Group PCL, NVDR | 59,700 | 178,598 | ||||||
TMBThanachart Bank PCL, NVDR | 6,697,700 | 280,822 | ||||||
Total Access Communication PCL, NVDR | 105,400 | 151,608 | ||||||
True Corp. PCL, NVDR | 3,263,900 | 499,449 | ||||||
|
| |||||||
(Cost $13,327,135) | 14,366,376 | |||||||
|
| |||||||
Turkey — 0.5% | ||||||||
Akbank TAS | 529,165 | 268,407 | ||||||
Akcansa Cimento AS | 17,385 | 20,772 | ||||||
Anadolu Efes Biracilik Ve Malt Sanayii AS | 34,267 | 59,734 | ||||||
Arcelik AS | 46,892 | 187,268 | ||||||
Aselsan Elektronik Sanayi Ve Ticaret AS | 56,955 | 91,393 | ||||||
BIM Birlesik Magazalar AS | 50,429 | 265,978 | ||||||
Borusan Yatirim ve Pazarlama AS | 1,125 | 28,004 | ||||||
Coca-Cola Icecek AS | 10,364 | 81,284 | ||||||
Eregli Demir ve Celik Fabrikalari TAS | 111,079 | 249,093 | ||||||
Ford Otomotiv Sanayi AS | 7,919 | 154,042 | ||||||
Hektas Ticaret TAS* | 74,210 | 69,125 | ||||||
Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS, Class D* | 193,146 | 163,467 | ||||||
KOC Holding AS | 42,999 | 98,162 | ||||||
Koza Altin Isletmeleri AS* | 12,502 | 103,284 | ||||||
Koza Anadolu Metal Madencilik Isletmeleri AS* | 43,737 | 61,915 | ||||||
Nuh Cimento Sanayi AS | 8,708 | 26,389 | ||||||
Petkim Petrokimya Holding AS* | 86,251 | 48,230 | ||||||
Sasa Polyester Sanayi AS* | 26,646 | 89,322 | ||||||
Tekfen Holding AS* | 38,854 | 51,863 | ||||||
Tofas Turk Otomobil Fabrikasi AS | 23,809 | 137,944 |
See Notes to Financial Statements. | 22 |
DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Turkey (Continued) | ||||||||
Turk Hava Yollari AO* | 94,017 | $ | 173,793 | |||||
Turk Telekomunikasyon AS | 75,480 | 47,163 | ||||||
Turkcell Iletisim Hizmetleri AS | 106,169 | 157,189 | ||||||
Turkiye Garanti Bankasi AS | 353,514 | 282,614 | ||||||
Turkiye Halk Bankasi AS* | 110,660 | 34,971 | ||||||
Turkiye Is Bankasi AS, Class C | 293,877 | 168,782 | ||||||
Turkiye Sise ve Cam Fabrikalari AS | 239,100 | 213,574 | ||||||
Turkiye Vakiflar Bankasi TAO, Class D* | 265,430 | 63,965 | ||||||
Ulker Biskuvi Sanayi AS | 33,629 | 36,032 | ||||||
Yapi ve Kredi Bankasi AS | 500,739 | 129,343 | ||||||
|
| |||||||
(Cost $4,102,487) | 3,563,102 | |||||||
|
| |||||||
United Arab Emirates — 1.5% | ||||||||
Abu Dhabi Commercial Bank PJSC | 240,766 | 705,311 | ||||||
Aldar Properties PJSC | 369,014 | 421,954 | ||||||
Dubai Islamic Bank PJSC | 248,716 | 412,377 | ||||||
Emaar Properties PJSC | 329,761 | 456,075 | ||||||
Emirates NBD Bank PJSC | 225,301 | 877,147 | ||||||
Emirates Telecommunications Group Co. PJSC | 306,243 | 2,916,481 | ||||||
First Abu Dhabi Bank PJSC | 389,683 | 2,193,993 | ||||||
International Holding Co. PJSC* | 56,905 | 2,915,702 | ||||||
|
| |||||||
(Cost $9,208,114) | 10,899,040 | |||||||
|
| |||||||
TOTAL COMMON STOCKS | 714,950,667 | |||||||
|
| �� | ||||||
PREFERRED STOCKS — 2.0% | ||||||||
Brazil — 1.2% | ||||||||
Alpargatas SA | 24,232 | 121,026 | ||||||
Banco Bradesco SA | 710,043 | 2,804,778 | ||||||
Bradespar SA | 32,120 | 187,793 | ||||||
Braskem SA, Class A | 15,630 | 144,811 | ||||||
Centrais Eletricas Brasileiras SA, Class B | 29,333 | 195,925 | ||||||
Gerdau SA | 108,674 | 537,073 | ||||||
Itau Unibanco Holding SA | 745,653 | 3,686,508 | ||||||
Itausa SA | 399,759 | 777,527 | ||||||
Usinas Siderurgicas de Minas Gerais SA Usiminas, Class A | 66,272 | 189,231 | ||||||
|
| |||||||
(Cost $9,202,305) | 8,644,672 | |||||||
|
| |||||||
Chile — 0.1% | ||||||||
Embotelladora Andina SA, Class B | 52,242 | 114,304 | ||||||
Sociedad Quimica y Minera de Chile SA, Class B | 12,583 | 839,078 | ||||||
|
| |||||||
(Cost $788,684) | 953,382 | |||||||
|
| |||||||
Colombia — 0.1% | ||||||||
Bancolombia SA | 73,115 | 652,410 | ||||||
Grupo Aval Acciones y Valores SA | 122,160 | 33,202 | ||||||
|
| |||||||
(Cost $638,818) | 685,612 | |||||||
|
| |||||||
Russia — 0.0% | ||||||||
Sberbank of Russia PJSC (b) | 71,636 | 41,360 | ||||||
|
| |||||||
South Korea — 0.6% | ||||||||
Hyundai Motor Co. | 1,865 | 135,724 | ||||||
Hyundai Motor Co.—2nd Preferred | 3,278 | 240,462 |
Number | Value | |||||||
South Korea (Continued) | ||||||||
LG Chem Ltd. | 290 | $ | 65,243 | |||||
LG Electronics, Inc. | 2,796 | 138,596 | ||||||
Samsung Electronics Co. Ltd. | 72,605 | 3,991,509 | ||||||
|
| |||||||
(Cost $5,050,729) | 4,571,534 | |||||||
|
| |||||||
TOTAL PREFERRED STOCKS | 14,896,560 | |||||||
|
| |||||||
Principal | ||||||||
CORPORATE BONDS — 0.0% | ||||||||
India — 0.0% | ||||||||
Britannia Industries Ltd. Series N3, 5.50%, 6/3/24 | INR | 2,494 | 33 | |||||
|
| |||||||
Number | ||||||||
RIGHTS — 0.0% | ||||||||
Brazil — 0.0% | ||||||||
Americanas SA*, expires 3/9/22 | 1,749 | 2,299 | ||||||
|
| |||||||
South Korea — 0.0% | ||||||||
Samsung Biologics Co. Ltd.*, expires 5/9/22 | 76 | 8,849 | ||||||
|
| |||||||
TOTAL RIGHTS | 11,148 | |||||||
|
| |||||||
WARRANTS — 0.0% | ||||||||
Switzerland — 0.0% | ||||||||
Cie Financiere Richemont SA*, expires 11/22/23 | 746 | 659 | ||||||
|
| |||||||
Thailand — 0.0% | ||||||||
BTS Group Holdings PCL*, expires 9/5/22 | 200 | 4 | ||||||
BTS Group Holdings PCL*, expires 11/7/24 | 400 | 8 | ||||||
BTS Group Holdings PCL*, expires 11/20/26 | 800 | 14 | ||||||
Minor International PCL*, expires 2/15/24 | 52 | 5 | ||||||
|
| |||||||
(Cost $0) | 31 | |||||||
|
| |||||||
TOTAL WARRANTS | 690 | |||||||
|
| |||||||
SECURITIES LENDING COLLATERAL — 0.3% | ||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (c)(d) | 1,966,294 | 1,966,294 | ||||||
|
|
See Notes to Financial Statements. | 23 |
DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
CASH EQUIVALENTS — 0.1% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (c) | 406,136 | $ | 406,136 | |||||
|
| |||||||
TOTAL INVESTMENTS — 100.2% (Cost $777,433,670) | $ | 732,231,528 | ||||||
Other assets and liabilities, net — (0.2%) | (1,098,007 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 731,133,521 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2022 is as follows:
Value ($) at 8/31/2021 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2022 | Value ($) at 2/28/2022 | ||||||||||||||||||||||||||||
EXCHANGE-TRADED FUNDS — 0.0% |
| |||||||||||||||||||||||||||||||||||
Xtrackers MSCI EAFE ESG Leaders Equity ETF (e) |
| |||||||||||||||||||||||||||||||||||
3,087 | — | (3,141 | ) | 297 | (243 | ) | — | — | — | — | ||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 0.3% |
| |||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (c)(d) |
| |||||||||||||||||||||||||||||||||||
1,768,050 | 198,244 | (f) | — | — | — | 146 | — | 1,966,294 | 1,966,294 | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.1% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (c) |
| |||||||||||||||||||||||||||||||||||
3,753,775 | 17,973,920 | (21,321,559 | ) | — | — | 101 | — | 406,136 | 406,136 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
5,524,912 | 18,172,164 | (21,324,700 | ) | 297 | (243 | ) | 247 | — | 2,372,430 | 2,372,430 | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* | Non-income producing security. |
(a) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2022 amounted to $5,743,295, which is 0.8% of net assets. |
(b) | Investment was valued using significant unobservable inputs. |
(c) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
(d) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund held non-cash U.S. Treasury securities collateral having a value of $4,447,594. |
(e) | Affiliated fund advised by DBX Advisors LLC. |
(f) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2022. |
ADR: | American Depositary Receipt |
CPO: | Ordinary Participation Certificates |
GDR: | Global Depositary Receipt |
JSC: | Joint Stock Company |
KSC: | Kuwait Shareholding Company |
KSCP: | Kuwait Shareholding Company Public |
NVDR: | Non Voting Depositary Receipt |
PJSC: | Public Joint Stock Company |
PSQC: | Public Shareholders Qatari Company |
QPSC: | Qatari Public Shareholders Company |
QSC: | Qatari Shareholders Company |
REIT: | Real Estate Investment Trust |
SAE: | Societe Anonyme Egyptienne |
SAQ: | Societe Anonyme Qatar |
144A: | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
See Notes to Financial Statements. | 24 |
DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
February 28, 2022 (Unaudited)
Securities are listed in country of domicile.
At February 28, 2022, open futures contracts purchased were as follows:
Contract Description | Currency | Number of Contracts | Notional Amount | Contract Value | Expiration Date | Unrealized Depreciation | ||||||||||||||||||
MSCI Emerging Markets Index Future | USD | 12 | $ | 730,580 | $ | 705,300 | 3/18/2022 | $ | (25,280 | ) |
For information on the Fund’s policy and additional disclosures regarding open futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
Currency Abbreviations
INR | Indian Rupee |
USD | U.S. Dollar |
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2022 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
Assets | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stocks (g) | $ | 713,077,277 | $ | — | $ | 1,873,390 | $ | 714,950,667 | ||||||||
Preferred Stocks (g) | 14,855,200 | — | 41,360 | 14,896,560 | ||||||||||||
Corporate Bonds | — | 33 | — | 33 | ||||||||||||
Rights (g) | — | 11,148 | — | 11,148 | ||||||||||||
Warrants (g) | 690 | — | — | 690 | ||||||||||||
Short-Term Investments (g) | 2,372,430 | — | — | 2,372,430 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 730,305,597 | $ | 11,181 | $ | 1,914,750 | $ | 732,231,528 | ||||||||
|
|
|
|
|
|
|
|
Liabilities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Derivatives (h) | ||||||||||||||||
Futures Contracts | $ | (25,280 | ) | $ | — | $ | — | $ | (25,280 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | (25,280 | ) | $ | — | $ | — | $ | (25,280 | ) | ||||||
|
|
|
|
|
|
|
|
(g) | See Schedule of Investments for additional detailed categorizations. |
(h) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
During the period ended February 28, 2022, the amount of transfers from Level 1 to Level 3 was $7,043,013 and between Level 3 and Level 1 was $31. The investments were transferred from Level 1 to Level 3 due to the lack of observable market data due to a decrease in market activity. The investment was transferred from Level 3 to Level 1 due to the availability of a pricing source supported by observable inputs.
See Notes to Financial Statements. | 25 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI EAFE ESG Leaders Equity ETF
February 28, 2022 (Unaudited)
Number | Value | |||||||
COMMON STOCKS — 99.4% | ||||||||
Australia — 6.7% | ||||||||
APA Group (a) | 4,033 | $ | 29,412 | |||||
Aristocrat Leisure Ltd. | 2,020 | 54,631 | ||||||
ASX Ltd. | 625 | 37,339 | ||||||
Aurizon Holdings Ltd. | 6,131 | 15,571 | ||||||
Australia & New Zealand Banking Group Ltd. | 9,594 | 181,079 | ||||||
BlueScope Steel Ltd. | 1,558 | 22,883 | ||||||
Brambles Ltd. | 4,896 | 35,172 | ||||||
Cochlear Ltd. | 220 | 35,584 | ||||||
Coles Group Ltd. | 4,627 | 58,355 | ||||||
Commonwealth Bank of Australia | 5,691 | 385,959 | ||||||
Computershare Ltd. | 1,626 | 25,557 | ||||||
Dexus REIT | 3,649 | 28,915 | ||||||
Evolution Mining Ltd. | 6,105 | 18,916 | ||||||
Fortescue Metals Group Ltd. | 5,721 | 75,349 | ||||||
Goodman Group REIT | 5,549 | 89,512 | ||||||
GPT Group REIT | 6,727 | 24,114 | ||||||
Insurance Australia Group Ltd. | 8,047 | 26,861 | ||||||
Lendlease Corp. Ltd. (a) | 2,255 | 17,280 | ||||||
Macquarie Group Ltd. | 1,140 | 149,549 | ||||||
Mineral Resources Ltd. | 566 | 18,585 | ||||||
Mirvac Group REIT | 13,165 | 24,743 | ||||||
Newcrest Mining Ltd. | 2,716 | 50,592 | ||||||
Northern Star Resources Ltd. | 3,565 | 26,671 | ||||||
Orica Ltd. | 1,258 | 13,319 | ||||||
QBE Insurance Group Ltd. | 4,939 | 41,180 | ||||||
Ramsay Health Care Ltd. | 663 | 30,776 | ||||||
REA Group Ltd. | 168 | 16,053 | ||||||
SEEK Ltd. | 1,093 | 21,153 | ||||||
Sonic Healthcare Ltd. | 1,472 | 37,439 | ||||||
Stockland REIT | 7,920 | 23,908 | ||||||
Telstra Corp. Ltd. | 14,038 | 40,339 | ||||||
Transurban Group (a) | 10,421 | 95,962 | ||||||
Vicinity Centres REIT | 12,090 | 15,792 | ||||||
Woodside Petroleum Ltd. (b) | 3,215 | 66,583 | ||||||
|
| |||||||
(Cost $1,729,512) | 1,835,133 | |||||||
|
| |||||||
Austria — 0.3% | ||||||||
Erste Group Bank AG | 1,180 | 42,399 | ||||||
OMV AG | 493 | 23,467 | ||||||
voestalpine AG | 360 | 11,904 | ||||||
|
| |||||||
(Cost $79,597) | 77,770 | |||||||
|
| |||||||
Belgium — 0.6% | ||||||||
Etablissements Franz Colruyt NV | 205 | 8,216 | ||||||
KBC Group NV | 845 | 61,236 | ||||||
Solvay SA | 235 | 26,321 | ||||||
UCB SA | 417 | 45,760 | ||||||
Umicore SA | 654 | 26,952 | ||||||
|
| |||||||
(Cost $174,288) | 168,485 | |||||||
|
| |||||||
Chile — 0.1% | ||||||||
Antofagasta PLC | 1,336 | 27,265 | ||||||
|
| |||||||
Denmark — 4.0% | ||||||||
Ambu A/S, Class B | 562 | 10,421 |
Number | Value | |||||||
Denmark (Continued) | ||||||||
Chr Hansen Holding A/S | 343 | $ | 25,099 | |||||
Coloplast A/S, Class B | 399 | 60,140 | ||||||
Demant A/S* | 336 | 14,201 | ||||||
Genmab A/S* | 222 | 74,754 | ||||||
GN Store Nord AS | 429 | 22,705 | ||||||
Novo Nordisk A/S, Class B | 5,614 | 578,223 | ||||||
Novozymes A/S, Class B | 675 | 44,357 | ||||||
Orsted AS, 144A | 637 | 82,836 | ||||||
Pandora A/S | 340 | 35,198 | ||||||
Tryg A/S | 1,100 | 25,014 | ||||||
Vestas Wind Systems A/S | 3,402 | 111,730 | ||||||
|
| |||||||
(Cost $854,787) | 1,084,678 | |||||||
|
| |||||||
Finland — 1.3% | ||||||||
Elisa OYJ | 470 | 26,157 | ||||||
Kesko OYJ, Class B | 930 | 27,514 | ||||||
Neste OYJ (b) | 1,431 | 56,545 | ||||||
Nordea Bank Abp | 10,657 | 119,327 | ||||||
Orion OYJ, Class B | 324 | 15,281 | ||||||
Stora Enso OYJ, Class R | 1,910 | 36,835 | ||||||
UPM-Kymmene OYJ | 1,794 | 62,466 | ||||||
Wartsila OYJ Abp | 1,494 | 16,898 | ||||||
|
| |||||||
(Cost $368,907) | 361,023 | |||||||
|
| |||||||
France — 10.6% | ||||||||
Accor SA* | 585 | 20,100 | ||||||
Air Liquide SA | 1,582 | 264,225 | ||||||
Alstom SA | 1,073 | 27,599 | ||||||
Amundi SA, 144A | 220 | 15,419 | ||||||
AXA SA | 6,382 | 174,010 | ||||||
BNP Paribas SA | 3,725 | 219,698 | ||||||
Bouygues SA | 750 | 26,974 | ||||||
Bureau Veritas SA | 966 | 27,841 | ||||||
Carrefour SA | 2,079 | 41,799 | ||||||
Cie Generale des Etablissements Michelin SCA | 563 | 78,413 | ||||||
CNP Assurances | 603 | 14,745 | ||||||
Covivio REIT | 184 | 15,178 | ||||||
Danone SA | 2,167 | 132,189 | ||||||
Eiffage SA | 304 | 31,181 | ||||||
EssilorLuxottica SA | 957 | 168,459 | ||||||
Eurazeo SE | 126 | 9,800 | ||||||
Gecina SA REIT | 145 | 18,485 | ||||||
Kering SA | 248 | 177,466 | ||||||
Klepierre SA REIT* | 677 | 19,512 | ||||||
L’Oreal SA | 842 | 335,736 | ||||||
Orange SA | 6,446 | 78,295 | ||||||
Publicis Groupe SA | 753 | 50,442 | ||||||
Schneider Electric SE | 1,797 | 282,131 | ||||||
SEB SA | 88 | 12,919 | ||||||
Societe Generale SA | 2,730 | 78,621 | ||||||
Teleperformance | 202 | 75,304 | ||||||
TotalEnergies SE | 8,368 | 428,498 | ||||||
Unibail-Rodamco-Westfield REIT* (b) | 430 | 32,784 | ||||||
Valeo | 698 | 15,511 | ||||||
Vivendi SE | 2,626 | 33,359 | ||||||
Wendel SE | 93 | 9,511 | ||||||
|
| |||||||
(Cost $2,867,080) | 2,916,204 | |||||||
|
|
See Notes to Financial Statements. | 26 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI EAFE ESG Leaders Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Germany — 7.6% | ||||||||
adidas AG | 636 | $ | 151,479 | |||||
Allianz SE | 1,359 | 310,323 | ||||||
BASF SE | 3,098 | 206,171 | ||||||
Bayerische Motoren Werke AG | 1,136 | 110,447 | ||||||
Beiersdorf AG | 337 | 34,226 | ||||||
Brenntag SE | 510 | 42,894 | ||||||
Commerzbank AG* | 3,532 | 29,888 | ||||||
Delivery Hero SE, 144A* | 524 | 28,139 | ||||||
Deutsche Boerse AG | 623 | 106,852 | ||||||
Deutsche Post AG | 3,333 | 169,062 | ||||||
HeidelbergCement AG | 500 | 32,651 | ||||||
HelloFresh SE* | 532 | 29,208 | ||||||
Henkel AG & Co. KGaA | 361 | 27,816 | ||||||
LANXESS AG | 278 | 13,608 | ||||||
LEG Immobilien SE | 241 | 31,211 | ||||||
Merck KGaA | 435 | 86,749 | ||||||
MTU Aero Engines AG | 184 | 44,682 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 464 | 128,806 | ||||||
Puma SE | 372 | 34,254 | ||||||
SAP SE | 3,477 | 395,692 | ||||||
Symrise AG | 433 | 51,796 | ||||||
Telefonica Deutschland Holding AG | 3,675 | 10,092 | ||||||
|
| |||||||
(Cost $2,261,570) | 2,076,046 | |||||||
|
| |||||||
Hong Kong — 1.6% | ||||||||
BOC Hong Kong Holdings Ltd. | 12,506 | 44,975 | ||||||
CK Infrastructure Holdings Ltd. | 2,208 | 13,705 | ||||||
ESR Cayman Ltd., 144A* | 5,977 | 18,473 | ||||||
Hang Seng Bank Ltd. | 2,533 | 46,746 | ||||||
HKT Trust & HKT Ltd. (a) | 10,579 | 14,270 | ||||||
Hong Kong & China Gas Co. Ltd. | 37,254 | 56,355 | ||||||
Hong Kong Exchanges & Clearing Ltd. | 4,024 | 194,462 | ||||||
MTR Corp. Ltd. | 5,143 | 26,624 | ||||||
Swire Pacific Ltd., Class A | 1,373 | 7,591 | ||||||
Swire Properties Ltd. | 3,092 | 8,033 | ||||||
|
| |||||||
(Cost $429,012) | 431,234 | |||||||
|
| |||||||
Ireland — 1.1% | ||||||||
CRH PLC | 2,589 | 118,092 | ||||||
DCC PLC | 317 | 24,924 | ||||||
James Hardie Industries PLC CDI | 1,483 | 48,050 | ||||||
Kerry Group PLC, Class A | 545 | 65,010 | ||||||
Kingspan Group PLC | 525 | 51,208 | ||||||
|
| |||||||
(Cost $288,074) | 307,284 | |||||||
|
| |||||||
Israel — 0.4% | ||||||||
Bank Hapoalim BM | 3,853 | 40,736 | ||||||
Bank Leumi Le-Israel BM | 5,024 | 54,355 | ||||||
CyberArk Software Ltd.* | 126 | 21,438 | ||||||
|
| |||||||
(Cost $89,674) | 116,529 | |||||||
|
| |||||||
Italy — 1.6% | ||||||||
Amplifon SpA | 409 | 17,663 | ||||||
Assicurazioni Generali SpA | 3,724 | 74,161 | ||||||
Enel SpA | 26,908 | 199,442 | ||||||
Intesa Sanpaolo SpA | 54,584 | 140,612 | ||||||
|
| |||||||
(Cost $445,303) | 431,878 | |||||||
|
|
Number | Value | |||||||
Japan — 24.1% | ||||||||
Aeon Co. Ltd. | 2,100 | $ | 47,361 | |||||
Ajinomoto Co., Inc. | 1,700 | 49,284 | ||||||
ANA Holdings, Inc.* | 300 | 6,581 | ||||||
Asahi Kasei Corp. | 4,200 | 39,292 | ||||||
Astellas Pharma, Inc. | 6,000 | 99,944 | ||||||
Azbil Corp. | 300 | 11,278 | ||||||
Bridgestone Corp. | 1,900 | 77,947 | ||||||
Capcom Co. Ltd. | 600 | 14,456 | ||||||
Central Japan Railway Co. | 510 | 68,590 | ||||||
Chugai Pharmaceutical Co. Ltd. | 2,098 | 69,220 | ||||||
CyberAgent, Inc. | 1,512 | 19,508 | ||||||
Dai Nippon Printing Co. Ltd. | 765 | 19,840 | ||||||
Daifuku Co. Ltd. | 316 | 22,663 | ||||||
Dai-ichi Life Holdings, Inc. | 3,400 | 71,085 | ||||||
Daikin Industries Ltd. | 824 | 151,708 | ||||||
Daiwa House Industry Co. Ltd. | 1,900 | 53,928 | ||||||
Denso Corp. | 1,460 | 102,007 | ||||||
East Japan Railway Co. | 1,029 | 60,842 | ||||||
Eisai Co. Ltd. | 758 | 37,632 | ||||||
ENEOS Holdings, Inc. | 10,600 | 41,765 | ||||||
Fast Retailing Co. Ltd. | 198 | 106,293 | ||||||
FUJIFILM Holdings Corp. | 1,250 | 78,815 | ||||||
Fujitsu Ltd. | 659 | 94,780 | ||||||
Hankyu Hanshin Holdings, Inc. | 800 | 23,859 | ||||||
Hikari Tsushin, Inc. | 40 | 4,932 | ||||||
Hirose Electric Co. Ltd. | 80 | 11,912 | ||||||
Hitachi Construction Machinery Co. Ltd. | 200 | 4,867 | ||||||
Hitachi Metals Ltd.* | 700 | 12,441 | ||||||
Hoshizaki Corp. | 200 | 13,857 | ||||||
Hoya Corp. | 1,250 | 161,222 | ||||||
Hulic Co. Ltd. | 1,500 | 13,636 | ||||||
Ibiden Co. Ltd. | 400 | 19,171 | ||||||
Inpex Corp. | 3,400 | 34,982 | ||||||
Isuzu Motors Ltd. | 1,900 | 25,685 | ||||||
ITOCHU Corp. | 3,900 | 126,744 | ||||||
JFE Holdings, Inc. | 1,600 | 23,894 | ||||||
JSR Corp. | 700 | 21,819 | ||||||
Kajima Corp. | 1,600 | 21,449 | ||||||
Kansai Paint Co. Ltd. | 600 | 11,977 | ||||||
Kao Corp. | 1,684 | 78,662 | ||||||
KDDI Corp. | 5,400 | 176,101 | ||||||
Keio Corp. | 239 | 9,753 | ||||||
Kikkoman Corp. | 500 | 37,074 | ||||||
Kobayashi Pharmaceutical Co. Ltd. | 180 | 15,347 | ||||||
Komatsu Ltd. | 2,900 | 66,536 | ||||||
Kubota Corp. | 3,600 | 64,452 | ||||||
Kurita Water Industries Ltd. | 300 | 12,242 | ||||||
Kyowa Kirin Co. Ltd. | 1,000 | 25,648 | ||||||
Lawson, Inc. | 100 | 4,168 | ||||||
Lixil Corp. | 900 | 19,965 | ||||||
Marubeni Corp. | 5,400 | 56,426 | ||||||
Mazda Motor Corp.* | 2,000 | 14,864 | ||||||
Mercari, Inc.* | 250 | 7,706 | ||||||
Mitsubishi Chemical Holdings Corp. | 4,100 | 29,098 | ||||||
Mitsubishi Estate Co. Ltd. | 3,900 | 59,495 | ||||||
Mitsui Chemicals, Inc. | 500 | 12,755 | ||||||
Mitsui Fudosan Co. Ltd. | 3,300 | 73,263 |
See Notes to Financial Statements. | 27 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI EAFE ESG Leaders Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Japan (Continued) | ||||||||
Miura Co. Ltd. | 200 | $ | 5,444 | |||||
Mizuho Financial Group, Inc. | 7,890 | 104,469 | ||||||
MS&AD Insurance Group Holdings, Inc. | 1,600 | 54,248 | ||||||
Murata Manufacturing Co. Ltd. | 1,900 | 128,459 | ||||||
NEC Corp. | 800 | 34,417 | ||||||
Nintendo Co. Ltd. | 374 | 188,404 | ||||||
Nippon Building Fund, Inc. REIT | 5 | 28,565 | ||||||
Nippon Express Holdings, Inc. | 250 | 15,151 | ||||||
Nippon Paint Holdings Co. Ltd. | 2,850 | 25,215 | ||||||
Nippon Steel Corp. | 2,800 | 51,259 | ||||||
Nippon Yusen KK | 470 | 43,542 | ||||||
Nissin Foods Holdings Co. Ltd. | 250 | 19,904 | ||||||
Nitori Holdings Co. Ltd. | 294 | 44,020 | ||||||
Nitto Denko Corp. | 450 | 32,624 | ||||||
Nomura Holdings, Inc. | 10,700 | 48,894 | ||||||
Nomura Real Estate Holdings, Inc. | 300 | 7,463 | ||||||
Nomura Real Estate Master Fund, Inc. REIT | 16 | 21,088 | ||||||
Nomura Research Institute Ltd. | 1,200 | 41,415 | ||||||
NTT Data Corp. | 2,200 | 41,507 | ||||||
Obayashi Corp. | 2,000 | 16,688 | ||||||
Odakyu Electric Railway Co. Ltd. | 1,000 | 16,445 | ||||||
Omron Corp. | 613 | 41,301 | ||||||
Oriental Land Co. Ltd. | 665 | 122,001 | ||||||
ORIX Corp. | 4,000 | 79,288 | ||||||
Orix JREIT, Inc. REIT (b) | 9 | 12,573 | ||||||
Osaka Gas Co. Ltd. | 1,500 | 27,467 | ||||||
Otsuka Corp. | 350 | 13,477 | ||||||
Pan Pacific International Holdings Corp. | 1,600 | 26,117 | ||||||
Panasonic Corp. | 7,500 | 77,491 | ||||||
Recruit Holdings Co. Ltd. | 4,500 | 188,283 | ||||||
Resona Holdings, Inc. | 6,800 | 30,571 | ||||||
Rohm Co. Ltd. | 290 | 22,737 | ||||||
SCSK Corp. | 300 | 5,100 | ||||||
Secom Co. Ltd. | 740 | 54,111 | ||||||
Sekisui Chemical Co. Ltd. | 1,300 | 21,231 | ||||||
Sekisui House Ltd. | 2,000 | 40,738 | ||||||
Seven & i Holdings Co. Ltd. | 2,500 | 121,359 | ||||||
SG Holdings Co. Ltd. | 1,100 | 23,227 | ||||||
Sharp Corp. | 1,100 | 10,343 | ||||||
Shimadzu Corp. | 840 | 29,939 | ||||||
Shimizu Corp. | 1,900 | 12,554 | ||||||
Shin-Etsu Chemical Co. Ltd. | 1,188 | 182,261 | ||||||
Shionogi & Co. Ltd. | 900 | 59,708 | ||||||
Shiseido Co. Ltd. | 1,350 | 76,962 | ||||||
SoftBank Corp. | 9,600 | 120,901 | ||||||
Sohgo Security Services Co. Ltd. | 200 | 7,189 | ||||||
Sompo Holdings, Inc. | 1,040 | 45,329 | ||||||
Sony Group Corp. | 4,205 | 431,179 | ||||||
Stanley Electric Co. Ltd. | 300 | 7,103 | ||||||
Sumitomo Chemical Co. Ltd. | 5,100 | 24,354 | ||||||
Sumitomo Metal Mining Co. Ltd. | 853 | 42,556 | ||||||
Sumitomo Mitsui Trust Holdings, Inc. | 1,100 | 39,253 | ||||||
Suntory Beverage & Food Ltd. | 300 | 11,982 | ||||||
Sysmex Corp. | 550 | 43,570 | ||||||
T&D Holdings, Inc. | 1,700 | 24,856 | ||||||
Taisei Corp. | 674 | 22,325 |
Number | Value | |||||||
Japan (Continued) | ||||||||
Takeda Pharmaceutical Co. Ltd. | 5,450 | $ | 165,665 | |||||
TDK Corp. | 1,325 | 52,919 | ||||||
Terumo Corp. | 2,050 | 66,017 | ||||||
Tobu Railway Co. Ltd. | 400 | 9,811 | ||||||
Tokyo Century Corp. | 100 | 4,376 | ||||||
Tokyo Electron Ltd. | 493 | 238,720 | ||||||
Tokyo Gas Co. Ltd. | 1,200 | 24,464 | ||||||
Tokyu Corp. | 1,800 | 23,943 | ||||||
Toray Industries, Inc. | 5,000 | 28,639 | ||||||
TOTO Ltd. | 400 | 16,792 | ||||||
Toyo Suisan Kaisha Ltd. | 250 | 10,506 | ||||||
Unicharm Corp. | 1,300 | 48,761 | ||||||
USS Co. Ltd. | 700 | 11,572 | ||||||
West Japan Railway Co. | 750 | 32,247 | ||||||
Yakult Honsha Co. Ltd. | 380 | 20,555 | ||||||
Yamaha Corp. | 419 | 19,499 | ||||||
Yamaha Motor Co. Ltd. | 1,000 | 22,366 | ||||||
Yaskawa Electric Corp. | 801 | 31,783 | ||||||
Yokogawa Electric Corp. | 1,100 | 17,621 | ||||||
Z Holdings Corp. | 9,100 | 44,056 | ||||||
ZOZO, Inc. | 300 | 8,465 | ||||||
|
| |||||||
(Cost $6,300,000) | 6,608,255 | |||||||
|
| |||||||
Luxembourg — 0.1% | ||||||||
Tenaris SA | 1,664 | 21,568 | ||||||
|
| |||||||
Netherlands — 6.5% | ||||||||
Aegon NV | 6,194 | 30,715 | ||||||
Akzo Nobel NV | 639 | 61,007 | ||||||
ASML Holding NV | 1,378 | 926,959 | ||||||
ING Groep NV | 13,148 | 155,033 | ||||||
JDE Peet’s NV | 248 | 8,155 | ||||||
Koninklijke Ahold Delhaize NV | 3,535 | 109,110 | ||||||
Koninklijke DSM NV | 582 | 109,364 | ||||||
Koninklijke KPN NV | 11,386 | 39,006 | ||||||
NN Group NV | 828 | 39,786 | ||||||
Prosus NV* | 3,135 | 195,147 | ||||||
Randstad NV | 394 | 26,862 | ||||||
Wolters Kluwer NV | 908 | 92,624 | ||||||
|
| |||||||
(Cost $1,513,382) | 1,793,768 | |||||||
|
| |||||||
New Zealand — 0.5% | ||||||||
Auckland International Airport Ltd.* | 4,253 | 20,493 | ||||||
Fisher & Paykel Healthcare Corp. Ltd. | 1,919 | 35,727 | ||||||
Mercury NZ Ltd. | 2,569 | 9,945 | ||||||
Meridian Energy Ltd. | 4,194 | 14,177 | ||||||
Ryman Healthcare Ltd. | 1,286 | 8,703 | ||||||
Spark New Zealand Ltd. | 6,110 | 18,628 | ||||||
Xero Ltd.* | 464 | 31,559 | ||||||
|
| |||||||
(Cost $159,058) | 139,232 | |||||||
|
| |||||||
Norway — 1.2% | ||||||||
Aker BP ASA | 374 | 11,632 | ||||||
DNB Bank ASA | 3,148 | 70,559 | ||||||
Equinor ASA | 3,284 | 103,987 | ||||||
Mowi ASA | 1,523 | 39,211 | ||||||
Norsk Hydro ASA | 4,448 | 42,266 |
See Notes to Financial Statements. | 28 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI EAFE ESG Leaders Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Norway (Continued) | ||||||||
Orkla ASA | 2,451 | $ | 23,006 | |||||
Telenor ASA | 2,129 | 31,583 | ||||||
|
| |||||||
(Cost $289,034) | 322,244 | |||||||
|
| |||||||
Portugal — 0.1% | ||||||||
Galp Energia SGPS SA | 1,674 | 18,536 | ||||||
Jeronimo Martins SGPS SA | 862 | 18,807 | ||||||
|
| |||||||
(Cost $39,233) | 37,343 | |||||||
|
| |||||||
Singapore — 1.6% | ||||||||
CapitaLand Integrated Commercial Trust REIT | 16,865 | 26,215 | ||||||
Capitaland Investment Ltd.* | 9,200 | 25,008 | ||||||
City Developments Ltd. | 1,300 | 6,819 | ||||||
DBS Group Holdings Ltd. | 5,747 | 143,183 | ||||||
Keppel Corp. Ltd. | 5,400 | 23,828 | ||||||
Oversea-Chinese Banking Corp. Ltd. | 11,400 | 98,006 | ||||||
Singapore Airlines Ltd.* | 5,250 | 19,686 | ||||||
Singapore Exchange Ltd. | 3,100 | 21,330 | ||||||
Singapore Telecommunications Ltd. | 28,300 | 52,537 | ||||||
UOL Group Ltd. | 1,800 | 9,255 | ||||||
|
| |||||||
(Cost $401,149) | 425,867 | |||||||
|
| |||||||
Spain — 2.2% | ||||||||
Banco Bilbao Vizcaya Argentaria SA | 22,001 | 130,724 | ||||||
CaixaBank SA | 14,546 | 48,034 | ||||||
Iberdrola SA | 19,438 | 222,257 | ||||||
Industria de Diseno Textil SA | 3,608 | 95,639 | ||||||
Naturgy Energy Group SA | 657 | 17,733 | ||||||
Red Electrica Corp. SA (b) | 1,411 | 28,250 | ||||||
Repsol SA | 5,035 | 65,749 | ||||||
|
| |||||||
(Cost $588,941) | 608,386 | |||||||
|
| |||||||
Sweden — 3.2% | ||||||||
Alfa Laval AB | 1,074 | 35,276 | ||||||
Assa Abloy AB, Class B | 3,375 | 89,970 | ||||||
Atlas Copco AB, Class A | 2,286 | 119,747 | ||||||
Atlas Copco AB, Class B | 1,319 | 60,470 | ||||||
Boliden AB | 920 | 41,281 | ||||||
Electrolux AB, Class B (b) | 680 | 12,302 | ||||||
Essity AB, Class B | 2,075 | 53,798 | ||||||
Evolution AB, 144A | 577 | 67,297 | ||||||
H & M Hennes & Mauritz AB, Class B (b) | 2,495 | 42,418 | ||||||
Husqvarna AB, Class B | 1,413 | 17,134 | ||||||
Nibe Industrier AB, Class B | 4,781 | 43,017 | ||||||
Sandvik AB | 3,799 | 83,280 | ||||||
SKF AB, Class B | 1,266 | 23,581 | ||||||
Svenska Cellulosa AB SCA, Class B | 1,946 | 32,062 | ||||||
Tele2 AB, Class B | 1,697 | 22,610 | ||||||
Telefonaktiebolaget LM Ericsson, Class B | 9,819 | 91,446 | ||||||
Telia Co. AB | 8,786 | 32,875 | ||||||
|
| |||||||
(Cost $920,164) | 868,564 | |||||||
|
| |||||||
Switzerland — 9.8% | ||||||||
ABB Ltd. | 5,487 | 186,299 | ||||||
Adecco Group AG | 520 | 24,678 | ||||||
Chocoladefabriken Lindt & Spruengli AG Participation Certificates | 7 | 74,582 |
Number | Value | |||||||
Switzerland (Continued) | ||||||||
Cie Financiere Richemont SA | 1,738 | $ | 236,987 | |||||
Clariant AG* | 660 | 11,931 | ||||||
Coca-Cola HBC AG* | 697 | 17,806 | ||||||
Geberit AG | 124 | 81,284 | ||||||
Givaudan SA | 31 | 130,123 | ||||||
Kuehne + Nagel International AG | 183 | 50,146 | ||||||
Lonza Group AG | 249 | 172,993 | ||||||
Roche Holding AG | 2,346 | 894,597 | ||||||
SGS SA | 20 | 57,442 | ||||||
Sika AG | 475 | 158,428 | ||||||
Sonova Holding AG | 182 | 70,820 | ||||||
Straumann Holding AG | 33 | 52,497 | ||||||
Swiss Life Holding AG | 106 | 64,748 | ||||||
Swiss Re AG | 1,017 | 97,349 | ||||||
Swisscom AG | 86 | 51,612 | ||||||
Vifor Pharma AG | 165 | 28,982 | ||||||
Zurich Insurance Group AG | 509 | 233,903 | ||||||
|
| |||||||
(Cost $2,297,964) | 2,697,207 | |||||||
|
| |||||||
United Kingdom — 14.2% | ||||||||
abrdn PLC | 7,252 | 20,113 | ||||||
Ashtead Group PLC | 1,486 | 97,220 | ||||||
Associated British Foods PLC | 1,148 | 29,574 | ||||||
AstraZeneca PLC | 5,172 | 628,652 | ||||||
Barratt Developments PLC | 3,243 | 26,586 | ||||||
Berkeley Group Holdings PLC | 382 | 19,969 | ||||||
British Land Co. PLC REIT | 3,106 | 22,071 | ||||||
BT Group PLC (b) | 30,133 | 75,303 | ||||||
Burberry Group PLC | 1,336 | 34,776 | ||||||
CNH Industrial NV | 3,454 | 49,755 | ||||||
Coca-Cola Europacific Partners PLC | 697 | 35,693 | ||||||
Compass Group PLC | 5,990 | 136,148 | ||||||
Croda International PLC | 474 | 47,598 | ||||||
Ferguson PLC | 737 | 112,880 | ||||||
GlaxoSmithKline PLC | 16,798 | 348,314 | ||||||
Informa PLC* | 4,997 | 39,853 | ||||||
InterContinental Hotels Group PLC* | 584 | 41,028 | ||||||
Intertek Group PLC | 542 | 39,154 | ||||||
J Sainsbury PLC | 5,782 | 21,389 | ||||||
JD Sports Fashion PLC | 8,880 | 17,991 | ||||||
Johnson Matthey PLC | 641 | 16,195 | ||||||
Kingfisher PLC | 7,188 | 29,532 | ||||||
Land Securities Group PLC REIT | 2,344 | 24,978 | ||||||
Legal & General Group PLC | 20,154 | 74,959 | ||||||
Lloyds Banking Group PLC | 233,279 | 151,603 | ||||||
Mondi PLC | 1,603 | 33,800 | ||||||
National Grid PLC | 12,099 | 183,572 | ||||||
Next PLC | 456 | 41,984 | ||||||
Ocado Group PLC* | 1,680 | 30,949 | ||||||
Reckitt Benckiser Group PLC | 2,374 | 201,344 | ||||||
RELX PLC | 6,433 | 196,884 | ||||||
Rentokil Initial PLC | 6,216 | 42,352 | ||||||
Schroders PLC | 415 | 17,061 | ||||||
Segro PLC REIT | 3,889 | 67,913 | ||||||
Spirax-Sarco Engineering PLC | 247 | 39,587 | ||||||
St James’s Place PLC | 1,754 | 33,030 | ||||||
Standard Chartered PLC | 9,051 | 64,704 |
See Notes to Financial Statements. | 29 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI EAFE ESG Leaders Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
United Kingdom (Continued) | ||||||||
Taylor Wimpey PLC | 12,303 | $ | 24,803 | |||||
Tesco PLC | 26,101 | 101,474 | ||||||
Unilever PLC | 8,573 | 430,954 | ||||||
Vodafone Group PLC | 90,546 | 159,687 | ||||||
Whitbread PLC* | 644 | 25,266 | ||||||
WPP PLC | 3,901 | 55,351 | ||||||
|
| |||||||
(Cost $3,793,894) | 3,892,049 | |||||||
|
| |||||||
TOTAL COMMON STOCKS | 27,248,012 | |||||||
|
| |||||||
PREFERRED STOCKS — 0.2% |
| |||||||
Germany — 0.2% | ||||||||
Bayerische Motoren Werke AG | 153 | 12,528 | ||||||
Henkel AG & Co. KGaA | 590 | 46,945 | ||||||
|
| |||||||
(Cost $71,993) | 59,473 | |||||||
|
| |||||||
WARRANTS — 0.0% |
| |||||||
Switzerland — 0.0% | ||||||||
Cie Financiere Richemont SA*, expires 11/22/23 | 1,880 | 1,660 | ||||||
|
|
Number | Value | |||||||
EXCHANGE-TRADED FUNDS — 0.1% | ||||||||
iShares Trust iShares ESG Aware MSCI EAFE ETF | 450 | $ | 33,160 | |||||
|
| |||||||
SECURITIES LENDING COLLATERAL — 0.3% | ||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (c)(d) | 70,402 | 70,402 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 100.0% (Cost $26,114,667) | $ | 27,412,707 | ||||||
Other assets and liabilities, net — 0.0% | 637 | |||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 27,413,344 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2022 is as follows:
Value ($) at 8/31/2021 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2022 | Value ($) at 2/28/2022 | ||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 0.3% |
| |||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (c)(d) |
| |||||||||||||||||||||||||||||||||||
61,137 | 9,265 | (e) | — | — | — | 7 | — | 70,402 | 70,402 | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.0% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series Institutional Shares, 0.04% (c) |
| |||||||||||||||||||||||||||||||||||
2,532 | 464,838 | (467,370 | ) | — | — | 2 | — | — | — | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
63,669 | 474,103 | (467,370 | ) | — | — | 9 | — | 70,402 | 70,402 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* | Non-income producing security. |
(a) | Stapled Security — A security contractually bound to one or more other securities to form a single saleable unit which cannot be sold separately. |
(b) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2022 amounted to $234,309, which is 0.9% of net assets. |
(c) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
(d) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund held non-cash U.S. Treasury securities collateral having a value of $177,822. |
(e) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2022. |
CDI: | Chess Depositary Interest |
REIT: | Real Estate Investment Trust |
144A: | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
Securities are listed in country of domicile.
See Notes to Financial Statements. | 30 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI EAFE ESG Leaders Equity ETF (Continued)
February 28, 2022 (Unaudited)
At February 28, 2022, open futures contracts purchased were as follows:
Contract Description | Currency | Number of Contracts | Notional Amount | Contract Value | Expiration Date | Unrealized Depreciation | ||||||||||||
EURO STOXX 50 Futures | EUR | 1 | $ | 46,799 | $ | 44,108 | 3/18/2022 | $ | (2,691 | ) | ||||||||
MINI TOPIX Index Futures | JPY | 1 | 16,996 | 16,418 | 3/10/2022 | (578 | ) | |||||||||||
|
| |||||||||||||||||
Total unrealized depreciation | $ | (3,269 | ) | |||||||||||||||
|
|
For information on the Fund’s policy and additional disclosures regarding open futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
Currency Abbreviations
EUR | Euro |
JPY | Japanese Yen |
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2022 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
Assets | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stocks (f) | $ | 27,248,012 | $ | — | $ | — | $ | 27,248,012 | ||||||||
Preferred Stocks | 59,473 | — | — | 59,473 | ||||||||||||
Warrants | 1,660 | — | — | 1,660 | ||||||||||||
Exchange-Traded Funds | 33,160 | — | — | 33,160 | ||||||||||||
Short-Term Investments (f) | 70,402 | — | — | 70,402 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 27,412,707 | $ | — | $ | — | $ | 27,412,707 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liabilities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Derivatives (g) | ||||||||||||||||
Futures Contracts | $ | (3,269 | ) | $ | — | $ | — | $ | (3,269 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | (3,269 | ) | $ | — | $ | — | $ | (3,269 | ) | ||||||
|
|
|
|
|
|
|
|
(f) | See Schedule of Investments for additional detailed categorizations. |
(g) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
See Notes to Financial Statements. | 31 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF
February 28, 2022 (Unaudited)
Number | Value | |||||||
COMMON STOCKS — 98.9% | ||||||||
Brazil — 3.0% | ||||||||
Americanas SA | 3,677 | $ | 21,769 | |||||
Atacadao SA | 2,898 | 10,716 | ||||||
B3 SA — Brasil Bolsa Balcao | 35,700 | 101,036 | ||||||
Banco Bradesco SA | 8,606 | 28,499 | ||||||
Banco do Brasil SA | 4,973 | 33,989 | ||||||
Banco Santander Brasil SA | 2,490 | 14,954 | ||||||
CCR SA | 7,093 | 16,191 | ||||||
Cosan SA | 6,089 | 24,951 | ||||||
Energisa SA | 1,081 | 9,252 | ||||||
Equatorial Energia SA | 5,899 | 29,279 | ||||||
Hapvida Participacoes e Investimentos SA, 144A | 24,838 | 58,483 | ||||||
Hypera SA | 2,243 | 14,586 | ||||||
Klabin SA | 4,159 | 18,729 | ||||||
Localiza Rent a Car SA | 3,421 | 38,196 | ||||||
Lojas Renner SA | 5,783 | 28,423 | ||||||
Natura & Co. Holding SA* | 5,238 | 23,538 | ||||||
Petro Rio SA* | 4,069 | 20,394 | ||||||
Raia Drogasil SA | 6,099 | 27,655 | ||||||
Rede D’Or Sao Luiz SA, 144A | 2,342 | 23,185 | ||||||
Rumo SA* | 7,495 | 22,550 | ||||||
Telefonica Brasil SA | 3,023 | 29,440 | ||||||
TIM SA | 4,773 | 12,609 | ||||||
TOTVS SA | 2,982 | 19,131 | ||||||
Ultrapar Participacoes SA | 3,983 | 11,450 | ||||||
WEG SA | 9,663 | 55,145 | ||||||
|
| |||||||
(Cost $751,750) | 694,150 | |||||||
|
| |||||||
Chile — 0.2% | ||||||||
Empresas CMPC SA | 6,062 | 10,071 | ||||||
Empresas COPEC SA | 2,200 | 17,162 | ||||||
Enel Americas SA | 134,219 | 15,789 | ||||||
Falabella SA | 4,349 | 14,391 | ||||||
|
| |||||||
(Cost $79,045) | 57,413 | |||||||
|
| |||||||
China — 30.0% | ||||||||
360 Security Technology, Inc., Class A* | 2,700 | 4,476 | ||||||
3SBio, Inc., 144A* | 7,378 | 5,854 | ||||||
51job, Inc., ADR* | 189 | 9,790 | ||||||
AAC Technologies Holdings, Inc. (a) | 4,150 | 11,366 | ||||||
Air China Ltd., Class A* | 2,300 | 3,601 | ||||||
Air China Ltd., Class H* | 10,611 | 8,148 | ||||||
Alibaba Group Holding Ltd.* | 87,976 | 1,173,208 | ||||||
A-Living Smart City Services Co. Ltd., 144A | 3,103 | 5,568 | ||||||
Angel Yeast Co. Ltd., Class A | 200 | 1,582 | ||||||
Anjoy Foods Group Co. Ltd., Class A | 100 | 1,957 | ||||||
BBMG Corp., Class A | 2,500 | 1,141 | ||||||
Beijing Capital International Airport Co. Ltd., Class H* | 10,259 | 6,565 | ||||||
BYD Co. Ltd., Class A | 700 | 27,689 | ||||||
BYD Co. Ltd., Class H | 4,600 | 139,760 | ||||||
By-health Co. Ltd., Class A | 300 | 1,178 | ||||||
CanSino Biologics, Inc., Class A* | 26 | 1,041 | ||||||
CanSino Biologics, Inc., Class H, 144A* | 412 | 7,419 | ||||||
Changzhou Xingyu Automotive Lighting Systems Co. Ltd., Class A | 100 | 2,445 |
Number | Value | |||||||
China (Continued) | ||||||||
China Communications Services Corp. Ltd., Class H | 13,055 | $ | 7,168 | |||||
China Conch Venture Holdings Ltd. | 9,663 | 46,499 | ||||||
China Construction Bank Corp., Class A | 1,800 | 1,720 | ||||||
China Construction Bank Corp., Class H | 559,778 | 419,814 | ||||||
China Eastern Airlines Corp. Ltd., Class A* | 4,800 | 4,108 | ||||||
China Feihe Ltd., 144A | 20,878 | 24,903 | ||||||
China Jushi Co. Ltd., Class A | 1,028 | 2,778 | ||||||
China Lesso Group Holdings Ltd. | 7,105 | 10,893 | ||||||
China Medical System Holdings Ltd. | 7,570 | 13,428 | ||||||
China Merchants Bank Co. Ltd., Class H | 22,794 | 191,951 | ||||||
China Merchants Shekou Industrial Zone Holdings Co. Ltd., Class A | 2,100 | 4,509 | ||||||
China Molybdenum Co. Ltd., Class A | 6,200 | 5,905 | ||||||
China Molybdenum Co. Ltd., Class H | 19,482 | 11,669 | ||||||
China National Medicines Corp. Ltd., Class A | 200 | 882 | ||||||
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd., Class A | 400 | 2,270 | ||||||
China Southern Airlines Co. Ltd., Class A* | 4,200 | 4,613 | ||||||
China Southern Airlines Co. Ltd., Class H* | 9,335 | 5,890 | ||||||
China Three Gorges Renewables Group Co. Ltd., Class A | 9,900 | 11,186 | ||||||
China Tourism Group Duty Free Corp. Ltd., Class A | 700 | 22,464 | ||||||
China Vanke Co. Ltd., Class A | 3,300 | 10,041 | ||||||
China Vanke Co. Ltd., Class H | 9,662 | 22,901 | ||||||
CIFI Ever Sunshine Services Group Ltd. | 4,248 | 7,742 | ||||||
CIFI Holdings Group Co. Ltd. | 22,556 | 15,704 | ||||||
CITIC Ltd. | 33,884 | 39,505 | ||||||
Contemporary Amperex Technology Co. Ltd., Class A | 804 | 67,959 | ||||||
Country Garden Services Holdings Co. Ltd. | 11,680 | 69,808 | ||||||
CSPC Pharmaceutical Group Ltd. | 52,930 | 62,659 | ||||||
Dali Foods Group Co. Ltd., 144A | 13,444 | 7,071 | ||||||
Dongfeng Motor Group Co. Ltd., Class H | 16,051 | 13,784 | ||||||
ENN Energy Holdings Ltd. | 4,599 | 66,745 | ||||||
ENN Natural Gas Co. Ltd., Class A | 800 | 2,264 | ||||||
Eve Energy Co. Ltd., Class A | 680 | 9,645 | ||||||
Fosun International Ltd. | 14,939 | 16,194 | ||||||
Fuyao Glass Industry Group Co. Ltd., Class A | 600 | 4,184 | ||||||
Fuyao Glass Industry Group Co. Ltd., Class H, 144A | 3,632 | 17,756 | ||||||
Ganfeng Lithium Co. Ltd., Class A | 400 | 9,598 | ||||||
Ganfeng Lithium Co. Ltd., Class H, 144A | 1,518 | 25,547 | ||||||
GEM Co. Ltd., Class A | 1,200 | 1,818 | ||||||
Genscript Biotech Corp.* | 6,754 | 26,666 | ||||||
GoerTek, Inc., Class A | 1,300 | 9,020 | ||||||
Gotion High-tech Co. Ltd., Class A* | 500 | 3,414 | ||||||
Great Wall Motor Co. Ltd., Class A | 800 | 4,629 | ||||||
Great Wall Motor Co. Ltd., Class H | 17,720 | 36,875 | ||||||
Greenland Holdings Corp. Ltd., Class A | 3,460 | 2,369 | ||||||
Greentown Service Group Co. Ltd. | 8,419 | 8,436 | ||||||
Guangzhou Automobile Group Co. Ltd., Class H | 18,051 | 17,788 |
See Notes to Financial Statements. | 32 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
China (Continued) | ||||||||
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class A | 300 | $ | 1,416 | |||||
Guangzhou Kingmed Diagnostics Group Co. Ltd., Class A | 200 | 2,669 | ||||||
Guangzhou R&F Properties Co. Ltd., Class H (a) | 8,808 | 3,742 | ||||||
Hangzhou Robam Appliances Co. Ltd., Class A | 300 | 1,582 | ||||||
Hansoh Pharmaceutical Group Co. Ltd., 144A | 7,033 | 15,049 | ||||||
Huaxia Bank Co. Ltd., Class A | 5,100 | 4,550 | ||||||
Industrial Bank Co. Ltd., Class A | 7,300 | 25,533 | ||||||
Inner Mongolia Yili Industrial Group Co. Ltd., Class A | 2,100 | 13,152 | ||||||
Jafron Biomedical Co. Ltd., Class A | 200 | 1,450 | ||||||
JD.com, Inc., Class A* | 1,596 | 57,028 | ||||||
Jiangsu Zhongtian Technology Co. Ltd., Class A | 1,100 | 3,262 | ||||||
Jinke Properties Group Co. Ltd., Class A | 1,400 | 998 | ||||||
Jinxin Fertility Group Ltd., 144A* | 8,019 | 9,329 | ||||||
Kingdee International Software Group Co. Ltd.* | 15,162 | 37,218 | ||||||
Kuang-Chi Technologies Co. Ltd., | 600 | 1,929 | ||||||
KWG Group Holdings Ltd. | 6,775 | 3,165 | ||||||
Lenovo Group Ltd. | 41,288 | 45,918 | ||||||
Li Auto, Inc., ADR* | 3,200 | 97,440 | ||||||
Li Ning Co. Ltd. | 13,035 | 129,538 | ||||||
Logan Group Co. Ltd. | 8,775 | 2,920 | ||||||
Longfor Group Holdings Ltd., 144A | 10,638 | 56,909 | ||||||
Meituan, Class B, 144A* | 23,785 | 524,179 | ||||||
Microport Scientific Corp. (a) | 3,764 | 10,405 | ||||||
Ming Yang Smart Energy Group Ltd., Class A | 600 | 2,444 | ||||||
Minth Group Ltd. | 4,482 | 16,118 | ||||||
NIO, Inc., ADR* | 7,613 | 173,881 | ||||||
Offshore Oil Engineering Co. Ltd., Class A | 100 | 78 | ||||||
Ovctek China, Inc., Class A | 340 | 2,209 | ||||||
Pharmaron Beijing Co. Ltd., Class A | 200 | 3,842 | ||||||
Pharmaron Beijing Co. Ltd., Class H, 144A | 802 | 9,689 | ||||||
Ping An Insurance Group Co. of China Ltd., Class A | 3,800 | 30,569 | ||||||
Ping An Insurance Group Co. of China Ltd., Class H | 36,915 | 285,353 | ||||||
Poly Developments and Holdings Group Co. Ltd., Class A | 4,100 | 10,279 | ||||||
Shandong Weigao Group Medical Polymer Co. Ltd., Class H | 15,336 | 21,119 | ||||||
Shanghai Electric Group Co. Ltd., Class A | 4,200 | 2,935 | ||||||
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class A | 600 | 4,032 | ||||||
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class H | 2,903 | 11,629 | ||||||
Shanghai M&G Stationery, Inc., Class A | 200 | 1,721 | ||||||
Shanghai Pharmaceuticals Holding Co. Ltd., Class A | 300 | 888 | ||||||
Shanghai Pharmaceuticals Holding Co. Ltd., Class H | 4,327 | 7,797 |
Number | Value | |||||||
China (Continued) | ||||||||
Shenzhen Inovance Technology Co. Ltd., Class A | 850 | $ | 8,575 | |||||
Shenzhen Overseas Chinese Town Co. Ltd., Class A | 1,900 | 2,078 | ||||||
Shenzhou International Group Holdings Ltd. | 4,814 | 80,894 | ||||||
Sinotrans Ltd., Class A | 1,400 | 952 | ||||||
Sinotruk Hong Kong Ltd. | 3,625 | 5,400 | ||||||
Skshu Paint Co. Ltd., Class A | 140 | 1,970 | ||||||
Sungrow Power Supply Co. Ltd., Class A | 500 | 9,596 | ||||||
Suning.com Co. Ltd., Class A* | 2,700 | 1,536 | ||||||
TCL Technology Group Corp., Class A | 3,700 | 3,260 | ||||||
Tencent Holdings Ltd. | 33,339 | 1,797,149 | ||||||
Tongcheng Travel Holdings Ltd.* | 5,137 | 9,533 | ||||||
Topchoice Medical Corp., Class A* | 100 | 2,556 | ||||||
Topsports International Holdings Ltd., 144A | 9,631 | 9,972 | ||||||
Uni-President China Holdings Ltd. | 8,468 | 8,778 | ||||||
Unisplendour Corp. Ltd., Class A | 1,040 | 3,624 | ||||||
Vipshop Holdings Ltd., ADR* | 2,610 | 22,629 | ||||||
Want Want China Holdings Ltd. | 27,733 | 29,494 | ||||||
Wuchan Zhongda Group Co. Ltd., Class A | 1,100 | 988 | ||||||
Wuhu Sanqi Interactive Entertainment Network Technology Group Co. Ltd., Class A | 700 | 2,311 | ||||||
WuXi AppTec Co. Ltd., Class A | 856 | 14,099 | ||||||
WuXi AppTec Co. Ltd., Class H, 144A | 2,102 | 29,807 | ||||||
Wuxi Biologics Cayman, Inc., 144A* | 21,018 | 172,825 | ||||||
Xinjiang Goldwind Science & Technology Co. Ltd., Class A | 1,700 | 4,028 | ||||||
Xinjiang Goldwind Science & Technology Co. Ltd., Class H | 4,238 | 6,910 | ||||||
Xinyi Solar Holdings Ltd. | 28,501 | 51,504 | ||||||
XPeng, Inc., ADR* (a) | 2,260 | 82,196 | ||||||
Yadea Group Holdings Ltd., 144A | 6,422 | 9,485 | ||||||
Yantai Jereh Oilfield Services Group Co. Ltd., Class A | 500 | 3,538 | ||||||
Yum China Holdings, Inc. | 2,484 | 129,218 | ||||||
Yunnan Baiyao Group Co. Ltd., Class A | 400 | 5,721 | ||||||
Zhejiang Chint Electrics Co. Ltd., Class A | 700 | 5,538 | ||||||
Zhejiang Expressway Co. Ltd., Class H | 9,035 | 8,140 | ||||||
Zhejiang Huayou Cobalt Co. Ltd., Class A | 500 | 9,757 | ||||||
Zhejiang Jiuzhou Pharmaceutical Co. Ltd., Class A | 300 | 2,275 | ||||||
Zhejiang Weixing New Building Materials Co. Ltd., Class A | 300 | 1,101 | ||||||
Zhongsheng Group Holdings Ltd. | 3,386 | 23,574 | ||||||
Zoomlion Heavy Industry Science and Technology Co. Ltd., Class A | 3,800 | 4,240 | ||||||
Zoomlion Heavy Industry Science and Technology Co. Ltd., Class H | 7,378 | 4,891 | ||||||
|
| |||||||
(Cost $8,311,001) | 6,989,666 | |||||||
|
| |||||||
Czech Republic — 0.1% | ||||||||
Komercni Banka AS | 446 | 17,574 | ||||||
Moneta Money Bank AS, 144A | 2,246 | 8,900 | ||||||
|
| |||||||
(Cost $23,182) | 26,474 | |||||||
|
|
See Notes to Financial Statements. | 33 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Egypt — 0.1% | ||||||||
Commercial International Bank Egypt SAE* | 9,459 | $ | 28,786 | |||||
|
| |||||||
Greece — 0.2% | ||||||||
Eurobank Ergasias Services and Holdings SA* | 15,249 | 16,720 | ||||||
Hellenic Telecommunications Organization SA | 1,350 | 26,991 | ||||||
Public Power Corp. SA* | 1,214 | 11,549 | ||||||
|
| |||||||
(Cost $46,538) | 55,260 | |||||||
|
| |||||||
Hong Kong — 2.0% | ||||||||
Alibaba Health Information Technology | 22,634 | 15,758 | ||||||
Beijing Enterprises Water Group Ltd. | 24,465 | 9,643 | ||||||
China Education Group Holdings Ltd. | 4,512 | 3,846 | ||||||
China Everbright Environment Group Ltd. | 23,363 | 16,744 | ||||||
China Gas Holdings Ltd. | 17,781 | 28,127 | ||||||
China Jinmao Holdings Group Ltd. | 30,086 | 10,011 | ||||||
China Mengniu Dairy Co. Ltd.* | 18,469 | 119,956 | ||||||
China Overseas Land & Investment Ltd. | 22,471 | 68,589 | ||||||
China Resources Gas Group Ltd. | 5,350 | 24,546 | ||||||
China Ruyi Holdings Ltd.* (a) | 14,243 | 4,211 | ||||||
Geely Automobile Holdings Ltd. | 34,298 | 63,296 | ||||||
Hopson Development Holdings Ltd. (a) | 3,808 | 7,807 | ||||||
HUTCHMED China Ltd., ADR* (a) | 475 | 12,944 | ||||||
Jinmao Property Services Co. Ltd.* | 454 | 2 | ||||||
Kunlun Energy Co. Ltd. | 22,410 | 21,912 | ||||||
Lee & Man Paper Manufacturing Ltd. | 6,934 | 4,455 | ||||||
Shenzhen International Holdings Ltd. | 6,769 | 6,965 | ||||||
Shimao Group Holdings Ltd. (a) | 6,769 | 4,045 | ||||||
Sino Biopharmaceutical Ltd. | 60,940 | 38,840 | ||||||
Vinda International Holdings Ltd. | 1,753 | 4,992 | ||||||
|
| |||||||
(Cost $573,716) | 466,689 | |||||||
|
| |||||||
Hungary — 0.3% | ||||||||
MOL Hungarian Oil & Gas PLC | 2,437 | 19,137 | ||||||
OTP Bank Nyrt* | 1,283 | 49,596 | ||||||
|
| |||||||
(Cost $83,233) | 68,733 | |||||||
|
| |||||||
India — 12.5% | ||||||||
Adani Green Energy Ltd.* | 2,300 | 56,270 | ||||||
Adani Total Gas Ltd. | 1,602 | 33,774 | ||||||
Asian Paints Ltd. | 2,246 | 94,632 | ||||||
Axis Bank Ltd.* | 13,309 | 131,134 | ||||||
Bajaj Auto Ltd. | 416 | 19,491 | ||||||
Bandhan Bank Ltd., 144A | 3,700 | 15,041 | ||||||
Berger Paints India Ltd. | 1,366 | 12,517 | ||||||
Bharat Petroleum Corp. Ltd. | 5,249 | 24,368 | ||||||
Biocon Ltd.* | 2,358 | 10,917 | ||||||
Britannia Industries Ltd. | 620 | 28,203 | ||||||
Colgate-Palmolive India Ltd. | 699 | 13,455 | ||||||
Dabur India Ltd. | 3,533 | 26,415 | ||||||
DLF Ltd. | 3,477 | 16,186 | ||||||
Eicher Motors Ltd. | 797 | 27,394 | ||||||
Grasim Industries Ltd. | 1,551 | 32,905 | ||||||
Havells India Ltd. | 1,534 | 24,140 | ||||||
HCL Technologies Ltd. | 6,337 | 94,781 | ||||||
Hero MotoCorp Ltd. | 698 | 23,488 |
Number | Value | |||||||
India (Continued) | ||||||||
Hindalco Industries Ltd. | 9,242 | $ | 70,375 | |||||
Hindustan Unilever Ltd. | 4,810 | 138,662 | ||||||
Housing Development Finance Corp. Ltd. | 9,991 | 313,530 | ||||||
Indraprastha Gas Ltd. | 1,618 | 7,448 | ||||||
Info Edge India Ltd. | 457 | 27,016 | ||||||
Infosys Ltd. | 7,664 | 174,503 | ||||||
Infosys Ltd., ADR | 11,803 | 265,095 | ||||||
Lupin Ltd. | 1,359 | 13,452 | ||||||
Mahindra & Mahindra Ltd. | 5,115 | 53,687 | ||||||
Marico Ltd. | 3,008 | 20,548 | ||||||
Motherson Sumi Systems Ltd. | 7,494 | 14,964 | ||||||
Motherson Sumi Wiring India Ltd.* (b) | 7,494 | 3,461 | ||||||
Nestle India Ltd. | 197 | 46,118 | ||||||
PI Industries Ltd. | 496 | 16,249 | ||||||
Piramal Enterprises Ltd. | 649 | 17,832 | ||||||
Reliance Industries Ltd. | 16,604 | 519,964 | ||||||
Shree Cement Ltd. | 66 | 21,386 | ||||||
Siemens Ltd. | 397 | 12,369 | ||||||
State Bank of India | 10,487 | 67,253 | ||||||
Tata Consultancy Services Ltd. | 5,409 | 255,147 | ||||||
Titan Co. Ltd. | 2,089 | 70,603 | ||||||
Trent Ltd. | 1,086 | 15,971 | ||||||
UPL Ltd. | 2,836 | 25,047 | ||||||
Wipro Ltd., ADR | 542 | 3,951 | ||||||
Wipro Ltd. | 7,473 | 55,124 | ||||||
|
| |||||||
(Cost $2,542,711) | 2,914,866 | |||||||
|
| |||||||
Indonesia — 1.1% | ||||||||
Aneka Tambang Tbk | 48,806 | 7,542 | ||||||
PT Bank Central Asia Tbk | 321,082 | 179,906 | ||||||
PT Barito Pacific Tbk | 153,304 | 9,497 | ||||||
PT Indah Kiat Pulp & Paper Tbk | 15,986 | 8,985 | ||||||
PT Kalbe Farma Tbk | 128,844 | 14,752 | ||||||
PT Merdeka Copper Gold Tbk* | 67,303 | 18,129 | ||||||
PT Tower Bersama Infrastructure Tbk | 45,916 | 9,396 | ||||||
PT Unilever Indonesia Tbk | 46,118 | 11,813 | ||||||
|
| |||||||
(Cost $220,989) | 260,020 | |||||||
|
| |||||||
Kuwait — 0.4% | ||||||||
Kuwait Finance House KSCP | 26,801 | 83,554 | ||||||
|
| |||||||
Malaysia — 2.1% | ||||||||
AMMB Holdings Bhd* | 10,100 | 8,083 | ||||||
Axiata Group Bhd | 15,983 | 14,961 | ||||||
CIMB Group Holdings Bhd | 38,135 | 51,864 | ||||||
Dialog Group Bhd | 21,300 | 14,307 | ||||||
DiGi.Com Bhd | 18,900 | 18,232 | ||||||
Fraser & Neave Holdings Bhd | 700 | 3,768 | ||||||
HAP Seng Consolidated Bhd | 3,900 | 7,041 | ||||||
Hartalega Holdings Bhd | 11,100 | 12,214 | ||||||
IHH Healthcare Bhd | 9,900 | 15,492 | ||||||
Kuala Lumpur Kepong Bhd | 2,500 | 15,482 | ||||||
Malayan Banking Bhd | 27,775 | 57,951 | ||||||
Malaysia Airports Holdings Bhd* | 6,300 | 9,228 | ||||||
Maxis Bhd | 13,000 | 12,447 | ||||||
MISC Bhd | 7,700 | 13,480 | ||||||
Nestle Malaysia Bhd | 400 | 12,766 |
See Notes to Financial Statements. | 34 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Malaysia (Continued) | ||||||||
Petronas Dagangan Bhd | 1,500 | $ | 7,688 | |||||
Petronas Gas Bhd | 4,900 | 20,307 | ||||||
PPB Group Bhd | 3,700 | 15,810 | ||||||
Press Metal Aluminium Holdings Bhd | 19,400 | 31,559 | ||||||
Public Bank Bhd | 85,875 | 91,019 | ||||||
QL Resources Bhd | 5,400 | 6,367 | ||||||
RHB Bank Bhd | 9,581 | 13,464 | ||||||
Sime Darby Bhd | 15,000 | 8,110 | ||||||
Telekom Malaysia Bhd | 6,100 | 7,352 | ||||||
Top Glove Corp. Bhd | 30,500 | 14,892 | ||||||
Westports Holdings Bhd | 5,900 | 5,495 | ||||||
|
| |||||||
(Cost $484,482) | 489,379 | |||||||
|
| |||||||
Mexico — 1.6% | ||||||||
Arca Continental SAB de CV | 2,584 | 17,088 | ||||||
Cemex SAB de CV, Series CPO* | 86,765 | 44,672 | ||||||
Coca-Cola Femsa SAB de CV | 3,171 | 17,456 | ||||||
Fomento Economico Mexicano SAB de CV | 11,272 | 91,042 | ||||||
Gruma SAB de CV, Class B | 1,368 | 18,597 | ||||||
Grupo Bimbo SAB de CV, Series A | 9,010 | 27,812 | ||||||
Grupo Financiero Banorte SAB de CV, Class O | 15,145 | 102,689 | ||||||
Grupo Televisa SAB, Series CPO | 13,892 | 29,848 | ||||||
Industrias Penoles SAB de CV | 807 | 10,096 | ||||||
Kimberly-Clark de Mexico SAB de CV, Class A | 9,258 | 13,022 | ||||||
Telesites SAB de CV | 8,024 | 8,918 | ||||||
|
| |||||||
(Cost $377,816) | 381,240 | |||||||
|
| |||||||
Philippines — 0.7% | ||||||||
Ayala Land, Inc. | 45,900 | 34,915 | ||||||
Bank of the Philippine Islands | 10,520 | 20,519 | ||||||
Globe Telecom, Inc. | 155 | 7,763 | ||||||
GT Capital Holdings, Inc. | 460 | 5,186 | ||||||
JG Summit Holdings, Inc. | 18,050 | 21,229 | ||||||
SM Investments Corp. | 1,472 | 25,610 | ||||||
SM Prime Holdings, Inc. | 59,000 | 45,801 | ||||||
Universal Robina Corp. | 5,630 | 13,177 | ||||||
|
| |||||||
(Cost $170,288) | 174,200 | |||||||
|
| |||||||
Poland — 0.9% | ||||||||
Bank Polska Kasa Opieki SA | 1,078 | 29,788 | ||||||
CD Projekt SA (a) | 411 | 16,544 | ||||||
Cyfrowy Polsat SA | 1,343 | 8,738 | ||||||
KGHM Polska Miedz SA | 809 | 32,004 | ||||||
Orange Polska SA* | 4,075 | 7,588 | ||||||
Polski Koncern Naftowy ORLEN SA | 1,764 | 29,963 | ||||||
Powszechna Kasa Oszczednosci Bank Polski SA* | 5,086 | 49,030 | ||||||
Powszechny Zaklad Ubezpieczen SA | 3,474 | 26,191 | ||||||
Santander Bank Polska SA | 216 | 16,249 | ||||||
|
| |||||||
(Cost $233,252) | 216,095 | |||||||
|
| |||||||
Qatar — 0.9% | ||||||||
Commercial Bank PSQC | 10,928 | 20,710 | ||||||
Ooredoo QPSC | 5,392 | 11,366 | ||||||
Qatar Fuel QSC | 2,741 | 14,002 |
Number | Value | |||||||
Qatar (Continued) | ||||||||
Qatar National Bank QPSC | 26,361 | $ | 157,833 | |||||
|
| |||||||
(Cost $173,668) | 203,911 | |||||||
|
| |||||||
Romania — 0.1% | ||||||||
NEPI Rockcastle PLC | 2,485 | 15,728 | ||||||
|
| |||||||
Russia — 0.9% | ||||||||
Gazprom PJSC (b) | 68,905 | 100,739 | ||||||
LUKOIL PJSC (b) | 2,408 | 43,021 | ||||||
LUKOIL PJSC, ADR | 1 | 19 | ||||||
Mobile TeleSystems PJSC, ADR (b) | 2,662 | 6,893 | ||||||
Moscow Exchange MICEX-RTS PJSC (b) | 8,602 | 3,754 | ||||||
Novatek PJSC, GDR | 530 | 20,331 | ||||||
Novolipetsk Steel PJSC (b) | 8,462 | 4,374 | ||||||
PhosAgro PJSC, GDR | 810 | 4,933 | ||||||
Polymetal International PLC (b) | 2,070 | 7,606 | ||||||
Polyus PJSC (b) | 193 | 13,807 | ||||||
|
| |||||||
(Cost $684,406) | 205,477 | |||||||
|
| |||||||
Saudi Arabia — 1.4% | ||||||||
Almarai Co. JSC | 1,512 | 20,191 | ||||||
Bank AlBilad* | 2,119 | 33,267 | ||||||
Dr Sulaiman Al Habib Medical Services Group Co. | 330 | 15,059 | ||||||
Saudi Arabian Mining Co.* | 2,496 | 71,054 | ||||||
Saudi Basic Industries Corp. | 5,244 | 174,162 | ||||||
Savola Group | 1,471 | 13,292 | ||||||
|
| |||||||
(Cost $265,480) | 327,025 | |||||||
|
| |||||||
Singapore — 0.0% | ||||||||
BOC Aviation Ltd., 144A | 1,104 | 9,572 | ||||||
|
| |||||||
South Africa — 5.5% | ||||||||
Absa Group Ltd. | 4,155 | 47,496 | ||||||
Anglo American Platinum Ltd. | 318 | 49,390 | ||||||
Aspen Pharmacare Holdings Ltd. | 2,300 | 29,917 | ||||||
Bid Corp. Ltd. | 1,945 | 39,322 | ||||||
Bidvest Group Ltd. | 1,612 | 21,952 | ||||||
Capitec Bank Holdings Ltd. | 476 | 63,898 | ||||||
Clicks Group Ltd. (a) | 1,428 | 27,627 | ||||||
Discovery Ltd.* | 2,537 | 25,908 | ||||||
FirstRand Ltd. | 29,393 | 125,770 | ||||||
Gold Fields Ltd. | 5,190 | 72,155 | ||||||
Growthpoint Properties Ltd. REIT | 21,251 | 18,428 | ||||||
Impala Platinum Holdings Ltd. | 4,758 | 90,501 | ||||||
Kumba Iron Ore Ltd. | 380 | 14,865 | ||||||
MTN Group Ltd.* | 9,817 | 121,724 | ||||||
MultiChoice Group | 2,198 | 17,925 | ||||||
Naspers Ltd., Class N | 1,267 | 158,121 | ||||||
Nedbank Group Ltd. | 2,663 | 37,671 | ||||||
Northam Platinum Holdings Ltd.* | 2,088 | 33,547 | ||||||
Old Mutual Ltd. | 27,029 | 22,039 | ||||||
Remgro Ltd. | 3,000 | 27,128 | ||||||
Sanlam Ltd. | 11,158 | 46,690 | ||||||
Shoprite Holdings Ltd. | 2,967 | 43,970 | ||||||
SPAR Group Ltd. | 1,072 | 11,383 | ||||||
Standard Bank Group Ltd. | 7,406 | 77,949 |
See Notes to Financial Statements. | 35 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
South Africa (Continued) | ||||||||
Vodacom Group Ltd. | 3,710 | $ | 35,536 | |||||
Woolworths Holdings Ltd. | 5,831 | 19,056 | ||||||
|
| |||||||
(Cost $1,129,835) | 1,279,968 | |||||||
|
| |||||||
South Korea — 6.4% | ||||||||
Amorepacific Corp. | 190 | 29,076 | ||||||
AMOREPACIFIC Group | 165 | 6,697 | ||||||
BGF retail Co. Ltd. | 43 | 6,062 | ||||||
Celltrion Healthcare Co. Ltd. | 498 | 26,301 | ||||||
CJ CheilJedang Corp. | 49 | 15,425 | ||||||
CJ Corp. | 94 | 6,575 | ||||||
CJ Logistics Corp.* | 47 | 4,847 | ||||||
Coway Co. Ltd. | 309 | 18,529 | ||||||
Doosan Bobcat, Inc. | 266 | 8,440 | ||||||
GS Engineering & Construction Corp. | 364 | 12,972 | ||||||
GS Holdings Corp. | 267 | 8,883 | ||||||
Hankook Tire & Technology Co. Ltd. | 426 | 12,472 | ||||||
Hanon Systems | 1,078 | 10,355 | ||||||
Hanwha Solutions Corp.* | 681 | 19,172 | ||||||
Hyundai Engineering & Construction Co. Ltd. | 461 | 16,602 | ||||||
Hyundai Glovis Co. Ltd. | 109 | 15,955 | ||||||
Hyundai Heavy Industries Holdings Co. Ltd. | 289 | 12,355 | ||||||
Kakao Corp. | 1,820 | 142,439 | ||||||
KB Financial Group, Inc. | 2,295 | 113,953 | ||||||
Korean Air Lines Co. Ltd.* | 1,008 | 24,564 | ||||||
LG Chem Ltd. | 266 | 124,997 | ||||||
LG Corp. | 494 | 30,897 | ||||||
LG Display Co. Ltd. | 1,328 | 20,654 | ||||||
LG Electronics, Inc. | 620 | 63,684 | ||||||
LG Household & Health Care Ltd. | 54 | 42,666 | ||||||
Lotte Chemical Corp. | 99 | 18,114 | ||||||
NAVER Corp. | 717 | 189,634 | ||||||
POSCO Chemical Co. Ltd. | 178 | 16,803 | ||||||
Samsung Electro-Mechanics Co. Ltd. | 327 | 45,147 | ||||||
Samsung Engineering Co. Ltd.* | 892 | 17,212 | ||||||
Samsung Fire & Marine Insurance Co. Ltd. | 179 | 28,361 | ||||||
Samsung SDI Co. Ltd. | 320 | 145,848 | ||||||
Samsung SDS Co. Ltd. | 202 | 23,521 | ||||||
Shinhan Financial Group Co. Ltd. | 2,533 | 82,267 | ||||||
SK Biopharmaceuticals Co. Ltd.* | 161 | 11,328 | ||||||
SK Innovation Co. Ltd.* | 295 | 49,193 | ||||||
SK Telecom Co. Ltd. | 142 | 6,448 | ||||||
SK, Inc. | 247 | 46,736 | ||||||
SKC Co. Ltd. | 124 | 14,181 | ||||||
Yuhan Corp. | 300 | 14,497 | ||||||
|
| |||||||
(Cost $1,750,351) | 1,503,862 | |||||||
|
| |||||||
Taiwan — 23.7% | ||||||||
Acer, Inc. | 16,926 | 17,388 | ||||||
ASE Technology Holding Co. Ltd. | 19,266 | 68,240 | ||||||
AU Optronics Corp. | 48,404 | 35,481 | ||||||
Cathay Financial Holding Co. Ltd. | 45,472 | 101,049 | ||||||
Chailease Holding Co. Ltd. | 7,736 | 69,261 | ||||||
Cheng Shin Rubber Industry Co. Ltd. | 10,798 | 13,712 | ||||||
China Steel Corp. | 68,627 | 88,125 |
Number | Value | |||||||
Taiwan (Continued) | ||||||||
Chunghwa Telecom Co. Ltd. | 21,794 | $ | 96,784 | |||||
Compal Electronics, Inc. | 22,846 | 20,699 | ||||||
CTBC Financial Holding Co. Ltd. | 105,708 | 102,371 | ||||||
Delta Electronics, Inc. | 11,714 | 102,996 | ||||||
E.Sun Financial Holding Co. Ltd. | 67,710 | 71,127 | ||||||
Eclat Textile Co. Ltd. | 1,118 | 23,090 | ||||||
Evergreen Marine Corp. Taiwan Ltd. | 14,968 | 76,615 | ||||||
Far Eastern New Century Corp. | 16,038 | 16,905 | ||||||
Far EasTone Telecommunications Co. Ltd. | 8,804 | 21,763 | ||||||
Feng TAY Enterprise Co. Ltd. | 2,655 | 19,604 | ||||||
First Financial Holding Co. Ltd. | 60,946 | 55,870 | ||||||
Fubon Financial Holding Co. Ltd. | 43,351 | 116,128 | ||||||
Hiwin Technologies Corp. | 1,696 | 16,001 | ||||||
Hotai Motor Co. Ltd. | 1,753 | 39,393 | ||||||
Hua Nan Financial Holdings Co. Ltd. | 50,784 | 40,033 | ||||||
Innolux Corp. | 55,234 | 33,001 | ||||||
Inventec Corp. | 13,656 | 12,494 | ||||||
Lite-On Technology Corp. | 12,163 | 29,675 | ||||||
MediaTek, Inc. | 8,860 | 342,896 | ||||||
Mega Financial Holding Co. Ltd. | 63,594 | 85,291 | ||||||
Nan Ya Plastics Corp. | 29,728 | 92,996 | ||||||
Nien Made Enterprise Co. Ltd. | 973 | 12,529 | ||||||
Oneness Biotech Co. Ltd.* | 1,406 | 12,413 | ||||||
President Chain Store Corp. | 3,159 | 29,466 | ||||||
Ruentex Development Co. Ltd. | 6,153 | 15,714 | ||||||
Shanghai Commercial & Savings Bank Ltd. | 20,865 | 34,087 | ||||||
SinoPac Financial Holdings Co. Ltd. | 57,944 | 35,343 | ||||||
Taishin Financial Holding Co. Ltd. | 58,121 | 40,427 | ||||||
Taiwan Cement Corp. | 29,696 | 50,155 | ||||||
Taiwan High Speed Rail Corp. | 12,863 | 13,558 | ||||||
Taiwan Mobile Co. Ltd. | 10,272 | 37,922 | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd. | 143,406 | 3,089,610 | ||||||
Uni-President Enterprises Corp. | 27,978 | 66,964 | ||||||
United Microelectronics Corp. | 68,569 | 127,428 | ||||||
Wan Hai Lines Ltd. | 3,552 | 23,693 | ||||||
Yageo Corp. | 2,135 | 34,384 | ||||||
Yang Ming Marine Transport Corp.* | 10,292 | 42,402 | ||||||
Yuanta Financial Holding Co. Ltd. | 54,228 | 48,067 | ||||||
|
| |||||||
(Cost $4,151,477) | 5,523,150 | |||||||
|
| |||||||
Thailand — 2.5% | ||||||||
Advanced Info Service PCL, NVDR | 7,100 | 49,760 | ||||||
Airports of Thailand PCL, NVDR* | 25,200 | 49,552 | ||||||
Asset World Corp. PCL, NVDR* | 55,300 | 8,124 | ||||||
B Grimm Power PCL, NVDR | 4,700 | 4,963 | ||||||
Bangkok Dusit Medical Services PCL, NVDR | 54,300 | 39,385 | ||||||
Berli Jucker PCL, NVDR | 8,100 | 8,305 | ||||||
BTS Group Holdings PCL, NVDR | 49,100 | 14,276 | ||||||
Bumrungrad Hospital PCL, NVDR | 3,100 | 14,563 | ||||||
Central Pattana PCL, NVDR | 11,400 | 19,276 | ||||||
Charoen Pokphand Foods PCL, NVDR | 23,500 | 18,160 | ||||||
CP ALL PCL, NVDR | 33,600 | 69,925 | ||||||
Energy Absolute PCL, NVDR | 8,600 | 25,004 | ||||||
Home Product Center PCL, NVDR | 33,500 | 15,584 | ||||||
Indorama Ventures PCL, NVDR | 9,500 | 13,083 |
See Notes to Financial Statements. | 36 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Thailand (Continued) | ||||||||
Intouch Holdings PCL, NVDR | 6,500 | $ | 15,069 | |||||
Land & Houses PCL, NVDR | 48,700 | 14,308 | ||||||
Minor International PCL, NVDR* | 18,954 | 17,837 | ||||||
Muangthai Capital PCL, NVDR | 4,800 | 7,565 | ||||||
Osotspa PCL | 2,300 | 2,481 | ||||||
Osotspa PCL, NVDR | 4,700 | 5,070 | ||||||
PTT Exploration & Production PCL, NVDR | 8,100 | 33,838 | ||||||
PTT Global Chemical PCL, NVDR | 13,000 | 21,087 | ||||||
Siam Cement PCL, NVDR | 4,600 | 55,186 | ||||||
Siam Commercial Bank PCL, NVDR | 4,900 | 18,820 | ||||||
Sri Trang Gloves Thailand PCL, NVDR | 5,600 | 4,413 | ||||||
Thai Oil PCL, NVDR | 6,500 | 10,692 | ||||||
Thai Union Group PCL, NVDR | 15,700 | 9,802 | ||||||
True Corp. PCL, NVDR | 66,600 | 10,191 | ||||||
|
| |||||||
(Cost $553,369) | 576,319 | |||||||
|
| |||||||
Turkey — 0.2% | ||||||||
KOC Holding AS | 4,583 | 10,462 | ||||||
Turkcell Iletisim Hizmetleri AS | 7,039 | 10,422 | ||||||
Turkiye Garanti Bankasi AS | 12,919 | 10,328 | ||||||
Turkiye Is Bankasi AS, Class C | 7,924 | 4,551 | ||||||
Turkiye Sise ve Cam Fabrikalari AS | 7,971 | 7,120 | ||||||
|
| |||||||
(Cost $51,977) | 42,883 | |||||||
|
| |||||||
United Arab Emirates — 2.1% | ||||||||
Abu Dhabi Commercial Bank PJSC | 16,106 | 47,182 | ||||||
Abu Dhabi Islamic Bank PJSC | 8,165 | 19,673 | ||||||
Aldar Properties PJSC | 23,047 | 26,353 | ||||||
Emirates NBD Bank PJSC | 14,802 | 57,627 | ||||||
Emirates Telecommunications Group Co. PJSC | 20,324 | 193,554 | ||||||
First Abu Dhabi Bank PJSC | 25,455 | 143,317 | ||||||
|
| |||||||
(Cost $362,777) | 487,706 | |||||||
|
| |||||||
TOTAL COMMON STOCKS | 23,082,126 | |||||||
|
| |||||||
PREFERRED STOCKS — 1.1% | ||||||||
Brazil — 0.7% | ||||||||
Banco Bradesco SA | 27,950 | 110,407 | ||||||
Cia Energetica de Minas Gerais | 6,427 | 15,969 | ||||||
Gerdau SA | 6,602 | 32,627 | ||||||
|
| |||||||
(Cost $191,190) | 159,003 | |||||||
|
| |||||||
Chile — 0.2% | ||||||||
Sociedad Quimica y Minera de Chile SA, Class B | 787 | 52,480 | ||||||
|
| |||||||
Colombia — 0.1% | ||||||||
Bancolombia SA | 2,705 | 24,137 | ||||||
|
| |||||||
South Korea — 0.1% | ||||||||
LG Chem Ltd. | 47 | 10,574 | ||||||
LG Household & Health Care Ltd. | 13 | 5,676 | ||||||
|
| |||||||
(Cost $21,449) | 16,250 | |||||||
|
| |||||||
TOTAL PREFERRED STOCKS | 251,870 | |||||||
|
|
Principal | Value | |||||||
CORPORATE BONDS — 0.0% | ||||||||
India — 0.0% | ||||||||
Britannia Industries Ltd. | ||||||||
8.00%, 8/28/22 | INR | 4,500 | $ | 61 | ||||
Series N3, 5.50%, 6/3/24 | INR | 12,383 | 164 | |||||
|
| |||||||
(Cost $64) | 225 | |||||||
|
| |||||||
Number | ||||||||
RIGHTS — 0.0% | ||||||||
Brazil — 0.0% | ||||||||
Americanas SA*, expires 3/9/22 | 81 | 107 | ||||||
|
| |||||||
WARRANTS — 0.0% | ||||||||
Thailand — 0.0% | ||||||||
BTS Group Holdings PCL*, expires 9/5/22 | 1,525 | 32 | ||||||
BTS Group Holdings PCL*, expires 11/7/24 | 3,050 | 60 | ||||||
BTS Group Holdings PCL*, expires 11/20/26 | 6,100 | 106 | ||||||
|
| |||||||
TOTAL WARRANTS | 198 | |||||||
|
| |||||||
EXCHANGE-TRADED FUNDS — 0.0% | ||||||||
iShares ESG Aware MSCI EM ETF (a) | 250 | 9,480 | ||||||
|
| |||||||
SECURITIES LENDING COLLATERAL — 0.7% |
| |||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (c)(d) | 161,048 | 161,048 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 100.7% (Cost $23,583,572) | $ | 23,505,054 | ||||||
Other assets and liabilities, net — (0.7%) | (172,262 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 23,332,792 | ||||||
|
|
See Notes to Financial Statements. | 37 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (Continued)
February 28, 2022 (Unaudited)
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2022 is as follows:
Value ($) at 8/31/2021 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2022 | Value ($) at 2/28/2022 | ||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 0.7% |
| |||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (c)(d) |
| |||||||||||||||||||||||||||||||||||
79,911 | 81,137 | (e) | — | — | — | 5 | — | 161,048 | 161,048 | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.0% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (c) |
| |||||||||||||||||||||||||||||||||||
149,313 | 1,513,286 | (1,662,599 | ) | — | — | 13 | — | — | — | |||||||||||||||||||||||||||
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| |||||||||||||||||||
229,224 | 1,594,423 | (1,662,599 | ) | — | — | 18 | — | 161,048 | 161,048 | |||||||||||||||||||||||||||
|
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|
* | Non-income producing security. |
(a) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2022 amounted to $235,383, which is 1.0% of net assets. |
(b) | Investment was valued using significant unobservable inputs. |
(c) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
(d) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund held non-cash U.S. Treasury securities collateral having a value of $125,469. |
(e) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2022. |
ADR: | American Depositary Receipt |
CPO: | Ordinary Participation Certificates |
GDR: | Global Depositary Receipt |
JSC: | Joint Stock Company |
KSCP: | Kuwait Shareholding Company Public |
NVDR: | Non Voting Depositary Receipt |
PJSC: | Public Joint Stock Company |
PSQC: | Public Shareholders Qatari Company |
QPSC: | Qatari Public Shareholders Company |
QSC: | Qatari Shareholders Company |
REIT: | Real Estate Investment Trust |
SAE: | Societe Anonyme Egyptienne |
144A: | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
Securities are listed in country of domicile.
At February 28, 2022, open futures contracts purchased were as follows:
Contract Description | Currency | Number of Contracts | Notional Amount | Contract Value | Expiration Date | Unrealized Depreciation | ||||||||||||
MSCI Emerging Markets Index Futures | USD | 1 | $ | 60,760 | $ | 58,775 | 3/18/2022 | $ | (1,985 | ) |
For information on the Fund’s policy and additional disclosures regarding open futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
Currency Abbreviations
INR | Indian Rupee |
USD | U.S. Dollar |
See Notes to Financial Statements. | 38 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (Continued)
February 28, 2022 (Unaudited)
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2022 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
Assets | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stocks (f) | $ | 22,898,471 | $ | — | $ | 183,655 | $ | 23,082,126 | ||||||||
Preferred Stocks (f) | 251,870 | — | — | 251,870 | ||||||||||||
Corporate Bonds | — | 225 | — | 225 | ||||||||||||
Rights | — | 107 | — | 107 | ||||||||||||
Warrants | 198 | — | — | 198 | ||||||||||||
Exchange-Traded Funds | 9,480 | — | — | 9,480 | ||||||||||||
Short-Term Investments (f) | 161,048 | — | — | 161,048 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 23,321,067 | $ | 332 | $ | 183,655 | $ | 23,505,054 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liabilities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Derivatives (g) | ||||||||||||||||
Futures Contracts | $ | (1,985 | ) | $ | — | $ | — | $ | (1,985 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | (1,985 | ) | $ | — | $ | — | $ | (1,985 | ) | ||||||
|
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|
|
(f) | See Schedule of Investments for additional detailed categorizations. |
(g) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
During the year ended February 28, 2022, the amount of transfers from Level 1 to Level 3 was $608,106, and between Level 3 to Level 1 was $243. The investments were transferred from Level 1 to Level 3 due to the lack of observable market data due to a decrease in market activity. The investment was transferred from Level 3 to Level 1 due to the availability of a pricing source supported by observable inputs.
See Notes to Financial Statements. | 39 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI USA ESG Leaders Equity ETF
February 28, 2022 (Unaudited)
Number | Value | |||||||
COMMON STOCKS — 99.9% | ||||||||
Communication Services — 11.6% | ||||||||
Activision Blizzard, Inc. | 128,026 | $ | 10,434,119 | |||||
Alphabet, Inc., Class A* | 49,048 | 132,485,515 | ||||||
Alphabet, Inc., Class C* | 46,627 | 125,791,253 | ||||||
Cable One, Inc. | 857 | 1,227,952 | ||||||
Discovery, Inc., Class A* | 26,876 | 753,872 | ||||||
Discovery, Inc., Class C* | 53,673 | 1,501,234 | ||||||
Electronic Arts, Inc. | 46,746 | 6,081,187 | ||||||
Interpublic Group of Cos., Inc. | 64,908 | 2,388,614 | ||||||
Omnicom Group, Inc. | 35,735 | 2,997,809 | ||||||
Sirius XM Holdings, Inc. (a) | 146,132 | 900,173 | ||||||
Take-Two Interactive Software, Inc.* | 18,198 | 2,948,076 | ||||||
Verizon Communications, Inc. | 674,480 | 36,199,342 | ||||||
Walt Disney Co.* | 295,422 | 43,858,350 | ||||||
|
| |||||||
(Cost $257,668,503) | 367,567,496 | |||||||
|
| |||||||
Consumer Discretionary — 12.5% | ||||||||
Advance Auto Parts, Inc. | 9,954 | 2,035,394 | ||||||
Aptiv PLC* | 43,654 | 5,650,574 | ||||||
Best Buy Co., Inc. | 35,674 | 3,447,535 | ||||||
Booking Holdings, Inc.* | 6,708 | 14,571,453 | ||||||
BorgWarner, Inc. | 40,174 | 1,647,536 | ||||||
Burlington Stores, Inc.* | 10,951 | 2,473,721 | ||||||
CarMax, Inc.* | 26,635 | 2,912,005 | ||||||
Darden Restaurants, Inc. | 20,345 | 2,954,501 | ||||||
Domino’s Pizza, Inc. | 5,905 | 2,552,200 | ||||||
eBay, Inc. | 105,535 | 5,761,156 | ||||||
Garmin Ltd. | 25,795 | 2,848,800 | ||||||
Genuine Parts Co. | 23,409 | 2,859,643 | ||||||
Hasbro, Inc. | 20,338 | 1,973,803 | ||||||
Hilton Worldwide Holdings, Inc.* | 45,048 | 6,705,845 | ||||||
Home Depot, Inc. | 170,266 | 53,775,111 | ||||||
LKQ Corp. | 47,332 | 2,222,237 | ||||||
Lowe’s Cos., Inc. | 109,853 | 24,284,104 | ||||||
Lululemon Athletica, Inc.* | 19,528 | 6,247,788 | ||||||
McDonald’s Corp. | 122,125 | 29,892,536 | ||||||
MercadoLibre, Inc.* | 7,391 | 8,327,070 | ||||||
Mohawk Industries, Inc.* | 9,027 | 1,270,821 | ||||||
Newell Brands, Inc. | 64,266 | 1,526,318 | ||||||
NIKE, Inc., Class B | 207,990 | 28,401,035 | ||||||
NVR, Inc.* | 540 | 2,677,558 | ||||||
Pool Corp. | 6,300 | 2,889,054 | ||||||
Starbucks Corp. | 191,585 | 17,585,587 | ||||||
Target Corp. | 78,120 | 15,606,032 | ||||||
Tesla, Inc.* | 139,189 | 121,154,281 | ||||||
TJX Cos., Inc. | 196,304 | 12,975,694 | ||||||
Tractor Supply Co. | 18,479 | 3,765,835 | ||||||
Vail Resorts, Inc. | 6,832 | 1,780,078 | ||||||
VF Corp. | 54,089 | 3,138,244 | ||||||
|
| |||||||
(Cost $280,538,441) | 395,913,549 | |||||||
|
| |||||||
Consumer Staples — 6.5% | ||||||||
Bunge Ltd. | 21,962 | 2,296,127 | ||||||
Campbell Soup Co. | 31,257 | 1,405,627 | ||||||
Clorox Co. | 19,727 | 2,875,999 | ||||||
Coca-Cola Co. | 667,216 | 41,527,524 | ||||||
Colgate-Palmolive Co. | 131,269 | 10,101,150 |
Number | Value | |||||||
Consumer Staples (Continued) | ||||||||
Conagra Brands, Inc. | 80,508 | $ | 2,815,365 | |||||
Estee Lauder Cos., Inc., Class A | 37,871 | 11,222,313 | ||||||
General Mills, Inc. | 99,575 | 6,714,342 | ||||||
Hormel Foods Corp. | 45,873 | 2,185,390 | ||||||
J M Smucker Co. | 17,975 | 2,422,131 | ||||||
Kellogg Co. | 42,223 | 2,699,739 | ||||||
Keurig Dr Pepper, Inc. | 117,123 | 4,529,146 | ||||||
Kimberly-Clark Corp. | 55,095 | 7,170,614 | ||||||
Kroger Co. | 116,191 | 5,437,739 | ||||||
McCormick & Co., Inc. | 41,550 | 3,954,314 | ||||||
PepsiCo, Inc. | 225,055 | 36,850,506 | ||||||
Procter & Gamble Co. | 394,266 | 61,462,127 | ||||||
|
| |||||||
(Cost $172,126,035) | 205,670,153 | |||||||
|
| |||||||
Energy — 1.5% | ||||||||
Baker Hughes Co. | 131,587 | 3,866,026 | ||||||
Cheniere Energy, Inc. | 39,288 | 5,221,375 | ||||||
Marathon Petroleum Corp. | 100,368 | 7,815,656 | ||||||
ONEOK, Inc. | 72,541 | 4,736,928 | ||||||
Phillips 66 | 71,025 | 5,983,146 | ||||||
Schlumberger N.V. | 230,205 | 9,033,244 | ||||||
Valero Energy Corp. | 66,553 | 5,557,841 | ||||||
Williams Cos., Inc. | 199,251 | 6,232,571 | ||||||
|
| |||||||
(Cost $40,248,633) | 48,446,787 | |||||||
|
| |||||||
Financials — 11.6% | ||||||||
Aflac, Inc. | 106,401 | 6,500,037 | ||||||
Allstate Corp. | 46,480 | 5,687,293 | ||||||
Ally Financial, Inc. | 61,792 | 3,083,421 | ||||||
American Express Co. | 107,573 | 20,927,252 | ||||||
American International Group, Inc. | 136,622 | 8,366,731 | ||||||
Ameriprise Financial, Inc. | 18,544 | 5,559,306 | ||||||
Annaly Capital Management, Inc. REIT | 235,585 | 1,639,672 | ||||||
Aon PLC, Class A | 35,926 | 10,495,422 | ||||||
Arch Capital Group Ltd.* | 62,100 | 2,925,531 | ||||||
Arthur J Gallagher & Co. | 33,631 | 5,320,088 | ||||||
Assurant, Inc. | 9,317 | 1,581,188 | ||||||
Bank of New York Mellon Corp. | 127,909 | 6,798,363 | ||||||
BlackRock, Inc. | 24,770 | 18,426,155 | ||||||
Carlyle Group, Inc. | 24,068 | 1,128,067 | ||||||
Cboe Global Markets, Inc. | 17,529 | 2,055,976 | ||||||
Charles Schwab Corp. | 234,574 | 19,812,120 | ||||||
Chubb Ltd. | 70,897 | 14,437,465 | ||||||
Citizens Financial Group, Inc. | 69,237 | 3,629,404 | ||||||
CME Group, Inc. | 58,378 | 13,808,148 | ||||||
Discover Financial Services | 47,678 | 5,885,372 | ||||||
Equitable Holdings, Inc. | 58,570 | 1,912,896 | ||||||
Erie Indemnity Co., Class A | 3,490 | 611,099 | ||||||
FactSet Research Systems, Inc. | 5,838 | 2,370,753 | ||||||
First Republic Bank | 27,870 | 4,828,756 | ||||||
Franklin Resources, Inc. | 49,726 | 1,478,354 | ||||||
Hartford Financial Services Group, Inc. | 55,421 | 3,850,651 | ||||||
Huntington Bancshares, Inc. | 239,903 | 3,723,295 | ||||||
Intercontinental Exchange, Inc. | 92,409 | 11,839,441 | ||||||
Invesco Ltd. | 54,050 | 1,148,022 | ||||||
KeyCorp | 161,025 | 4,036,897 | ||||||
Lincoln National Corp. | 27,950 | 1,884,389 |
See Notes to Financial Statements. | 40 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI USA ESG Leaders Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Financials (Continued) | ||||||||
Loews Corp. | 35,010 | $ | 2,147,513 | |||||
M&T Bank Corp. | 21,006 | 3,827,923 | ||||||
MarketAxess Holdings, Inc. | 5,962 | 2,274,086 | ||||||
Marsh & McLennan Cos., Inc. | 82,774 | 12,863,907 | ||||||
Moody’s Corp. | 27,413 | 8,827,808 | ||||||
Morgan Stanley | 221,762 | 20,122,684 | ||||||
Nasdaq, Inc. | 19,211 | 3,287,963 | ||||||
Northern Trust Corp. | 32,585 | 3,711,432 | ||||||
PNC Financial Services Group, Inc. | 69,281 | 13,804,239 | ||||||
Principal Financial Group, Inc. | 43,755 | 3,090,853 | ||||||
Progressive Corp. | 95,552 | 10,121,823 | ||||||
Prudential Financial, Inc. | 61,675 | 6,886,631 | ||||||
Raymond James Financial, Inc. | 30,062 | 3,296,298 | ||||||
Regions Financial Corp. | 153,332 | 3,709,101 | ||||||
S&P Global, Inc. | 56,355 | 21,172,453 | ||||||
State Street Corp. | 60,652 | 5,175,435 | ||||||
SVB Financial Group* | 9,463 | 5,734,578 | ||||||
T. Rowe Price Group, Inc. | 37,037 | 5,354,069 | ||||||
Travelers Cos., Inc. | 40,612 | 6,978,360 | ||||||
Truist Financial Corp. | 217,981 | 13,562,778 | ||||||
US Bancorp | 227,827 | 12,881,339 | ||||||
Willis Towers Watson PLC | 20,626 | 4,585,160 | ||||||
|
| |||||||
(Cost $289,040,453) | 369,167,997 | |||||||
|
| |||||||
Health Care — 13.2% | ||||||||
ABIOMED, Inc.* | 7,263 | 2,256,905 | ||||||
Agilent Technologies, Inc. | 49,638 | 6,470,810 | ||||||
Align Technology, Inc.* | 12,125 | 6,201,452 | ||||||
AmerisourceBergen Corp. | 24,408 | 3,478,872 | ||||||
Amgen, Inc. | 92,900 | 21,039,992 | ||||||
Baxter International, Inc. | 82,678 | 7,025,150 | ||||||
Biogen, Inc.* | 24,165 | 5,099,057 | ||||||
BioMarin Pharmaceutical, Inc.* | 29,324 | 2,290,791 | ||||||
Bio-Techne Corp. | 6,501 | 2,726,584 | ||||||
Bristol-Myers Squibb Co. | 361,158 | 24,800,720 | ||||||
Cardinal Health, Inc. | 44,949 | 2,427,695 | ||||||
Catalent, Inc.* | 27,256 | 2,781,202 | ||||||
Centene Corp.* | 94,521 | 7,809,325 | ||||||
Cerner Corp. | 49,926 | 4,655,600 | ||||||
Cigna Corp. | 54,037 | 12,848,918 | ||||||
DaVita, Inc.* | 11,612 | 1,309,485 | ||||||
DENTSPLY SIRONA, Inc. | 35,173 | 1,904,266 | ||||||
Dexcom, Inc.* | 15,664 | 6,483,486 | ||||||
Edwards Lifesciences Corp.* | 101,703 | 11,428,366 | ||||||
Eli Lilly & Co. | 132,479 | 33,113,126 | ||||||
Gilead Sciences, Inc. | 202,608 | 12,237,523 | ||||||
HCA Healthcare, Inc. | 40,568 | 10,154,576 | ||||||
Hologic, Inc.* | 40,899 | 2,910,782 | ||||||
Horizon Therapeutics PLC* | 35,453 | 3,232,250 | ||||||
Humana, Inc. | 21,102 | 9,165,021 | ||||||
IDEXX Laboratories, Inc.* | 13,903 | 7,401,262 | ||||||
Illumina, Inc.* | 24,170 | 7,893,922 | ||||||
Insulet Corp.* | 11,072 | 2,930,648 | ||||||
Jazz Pharmaceuticals PLC* | 8,865 | 1,218,228 | ||||||
Johnson & Johnson | 429,116 | 70,619,620 | ||||||
Laboratory Corp. of America Holdings* | 15,247 | 4,135,901 | ||||||
Merck & Co., Inc. | 411,869 | 31,540,928 |
Number | Value | |||||||
Health Care (Continued) | ||||||||
Mettler-Toledo International, Inc.* | 3,773 | $ | 5,315,176 | |||||
Novocure Ltd.* (a) | 14,940 | 1,222,988 | ||||||
Quest Diagnostics, Inc. | 19,671 | 2,582,212 | ||||||
ResMed, Inc. | 23,690 | 5,845,508 | ||||||
STERIS PLC | 16,273 | 3,905,520 | ||||||
Teladoc Health, Inc.* | 21,889 | 1,661,594 | ||||||
Teleflex, Inc. | 7,735 | 2,601,358 | ||||||
Thermo Fisher Scientific, Inc. | 64,138 | 34,891,072 | ||||||
Vertex Pharmaceuticals, Inc.* | 42,146 | 9,694,423 | ||||||
Waters Corp.* | 10,024 | 3,174,902 | ||||||
West Pharmaceutical Services, Inc. | 12,164 | 4,708,441 | ||||||
Zoetis, Inc. | 77,414 | 14,991,221 | ||||||
|
| |||||||
(Cost $370,864,110) | 420,186,878 | |||||||
|
| |||||||
Industrials — 7.8% | ||||||||
3M Co. | 93,614 | 13,915,721 | ||||||
Allegion PLC | 14,124 | 1,617,480 | ||||||
AMERCO | 1,708 | 986,558 | ||||||
C.H. Robinson Worldwide, Inc. | 21,488 | 2,077,460 | ||||||
Caterpillar, Inc. | 88,758 | 16,649,226 | ||||||
Copart, Inc.* | 35,173 | 4,322,058 | ||||||
CSX Corp. | 365,816 | 12,404,821 | ||||||
Cummins, Inc. | 24,021 | 4,903,167 | ||||||
Deere & Co. | 47,953 | 17,264,039 | ||||||
Delta Air Lines, Inc.* | 29,478 | 1,176,762 | ||||||
Dover Corp. | 22,799 | 3,576,251 | ||||||
Eaton Corp. PLC | 64,662 | 9,976,700 | ||||||
Expeditors International of Washington, Inc. | 28,177 | 2,912,375 | ||||||
Fastenal Co. | 93,002 | 4,785,883 | ||||||
Fortive Corp. | 55,986 | 3,625,094 | ||||||
Fortune Brands Home & Security, Inc. | 22,873 | 1,987,664 | ||||||
Generac Holdings, Inc.* | 10,150 | 3,202,021 | ||||||
Howmet Aerospace, Inc. | 64,407 | 2,313,499 | ||||||
IDEX Corp. | 11,831 | 2,270,369 | ||||||
Illinois Tool Works, Inc. | 51,246 | 11,086,560 | ||||||
Johnson Controls International PLC | 116,467 | 7,565,696 | ||||||
Lennox International, Inc. | 5,064 | 1,351,734 | ||||||
Masco Corp. | 40,182 | 2,251,799 | ||||||
Norfolk Southern Corp. | 40,210 | 10,314,669 | ||||||
Owens Corning | 16,796 | 1,565,219 | ||||||
PACCAR, Inc. | 56,327 | 5,171,382 | ||||||
Pentair PLC | 27,841 | 1,612,272 | ||||||
Robert Half International, Inc. | 17,473 | 2,101,827 | ||||||
Rockwell Automation, Inc. | 18,838 | 5,021,834 | ||||||
Roper Technologies, Inc. | 17,028 | 7,632,290 | ||||||
Snap-on, Inc. | 8,684 | 1,825,203 | ||||||
Stanley Black & Decker, Inc. | 27,120 | 4,412,424 | ||||||
Trane Technologies PLC | 39,596 | 6,095,012 | ||||||
Union Pacific Corp. | 104,898 | 25,799,663 | ||||||
United Parcel Service, Inc., Class B | 118,146 | 24,860,281 | ||||||
United Rentals, Inc.* | 11,794 | 3,793,186 | ||||||
W.W. Grainger, Inc. | 7,086 | 3,380,447 | ||||||
Waste Management, Inc. | 68,572 | 9,901,797 | ||||||
Xylem, Inc. | 29,040 | 2,583,108 | ||||||
|
| |||||||
(Cost $196,424,458) | 248,293,551 | |||||||
|
|
See Notes to Financial Statements. | 41 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI USA ESG Leaders Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Information Technology — 28.7% | ||||||||
Accenture PLC, Class A | 103,306 | $ | 32,646,762 | |||||
Adobe, Inc.* | 77,528 | 36,258,295 | ||||||
ANSYS, Inc.* | 14,365 | 4,656,989 | ||||||
Applied Materials, Inc. | 147,014 | 19,729,279 | ||||||
Autodesk, Inc.* | 35,839 | 7,892,823 | ||||||
Automatic Data Processing, Inc. | 68,826 | 14,070,787 | ||||||
Cadence Design Systems, Inc.* | 44,213 | 6,695,175 | ||||||
Cisco Systems, Inc. | 686,751 | 38,300,103 | ||||||
Citrix Systems, Inc. | 19,824 | 2,031,960 | ||||||
Cognex Corp. | 27,090 | 1,830,200 | ||||||
Hewlett Packard Enterprise Co. | 206,925 | 3,294,246 | ||||||
HP, Inc. | 195,261 | 6,709,168 | ||||||
Intel Corp. | 663,518 | 31,649,809 | ||||||
International Business Machines Corp. | 145,857 | 17,868,941 | ||||||
Intuit, Inc. | 43,963 | 20,854,728 | ||||||
Keysight Technologies, Inc.* | 30,185 | 4,750,213 | ||||||
Lam Research Corp. | 23,100 | 12,967,185 | ||||||
Mastercard, Inc., Class A | 143,306 | 51,707,671 | ||||||
Microsoft Corp. | 1,163,556 | 347,658,897 | ||||||
Motorola Solutions, Inc. | 27,202 | 5,996,137 | ||||||
NVIDIA Corp. | 407,970 | 99,483,485 | ||||||
Okta, Inc.* | 24,356 | 4,453,251 | ||||||
salesforce.com, Inc.* | 160,109 | 33,707,748 | ||||||
Teledyne Technologies, Inc.* | 7,721 | 3,315,243 | ||||||
Texas Instruments, Inc. | 150,094 | 25,514,479 | ||||||
Trimble, Inc.* | 42,035 | 2,931,941 | ||||||
Visa, Inc., Class A | 272,432 | 58,878,004 | ||||||
VMware, Inc., Class A | 33,908 | 3,978,087 | ||||||
Western Union Co. | 58,346 | 1,060,730 | ||||||
Workday, Inc., Class A* | 31,218 | 7,150,483 | ||||||
Zebra Technologies Corp., Class A* | 8,646 | 3,573,738 | ||||||
|
| |||||||
(Cost $656,337,559) | 911,616,557 | |||||||
|
| |||||||
Materials — 2.8% | ||||||||
Amcor PLC | 253,702 | 2,950,554 | ||||||
Ball Corp. | 52,141 | 4,679,133 | ||||||
DuPont de Nemours, Inc. | 85,360 | 6,604,303 | ||||||
Ecolab, Inc. | 42,295 | 7,454,917 | ||||||
International Flavors & Fragrances, Inc. | 40,158 | 5,341,014 | ||||||
International Paper Co. | 60,147 | 2,618,199 | ||||||
Linde PLC | 84,338 | 24,731,275 | ||||||
LyondellBasell Industries NV, Class A | 42,673 | 4,149,096 | ||||||
Mosaic Co. | 60,027 | 3,147,216 | ||||||
Newmont Corp. | 129,769 | 8,590,708 | ||||||
PPG Industries, Inc. | 38,277 | 5,108,066 | ||||||
Sherwin-Williams Co. | 40,464 | 10,647,292 | ||||||
Steel Dynamics, Inc. | 35,455 | 2,502,414 | ||||||
|
| |||||||
(Cost $74,268,961) | 88,524,187 | |||||||
|
| |||||||
Real Estate — 2.7% | ||||||||
American Tower Corp. REIT | 74,257 | 16,846,686 | ||||||
Boston Properties, Inc. REIT | 23,016 | 2,815,087 | ||||||
CBRE Group, Inc., Class A* | 54,420 | 5,270,577 | ||||||
Crown Castle International Corp. REIT | 70,713 | 11,780,079 | ||||||
Equinix, Inc. REIT | 14,598 | 10,360,638 | ||||||
Equity Residential REIT | 59,106 | 5,041,742 | ||||||
Healthpeak Properties, Inc. REIT | 85,912 | 2,668,427 |
Number | Value | |||||||
Real Estate (Continued) | ||||||||
Host Hotels & Resorts, Inc. REIT* | 120,130 | $ | 2,194,775 | |||||
Prologis, Inc. REIT | 120,325 | 17,549,401 | ||||||
Welltower, Inc. REIT | 70,853 | 5,901,346 | ||||||
Weyerhaeuser Co. REIT | 122,407 | 4,759,184 | ||||||
|
| |||||||
(Cost $74,987,093) | 85,187,942 | |||||||
|
| |||||||
Utilities — 1.0% | ||||||||
American Water Works Co., Inc. | 29,562 | 4,466,523 | ||||||
Atmos Energy Corp. | 21,660 | 2,378,485 | ||||||
Consolidated Edison, Inc. | 57,497 | 4,931,518 | ||||||
Edison International | 62,808 | 3,983,283 | ||||||
Essential Utilities, Inc. | 36,855 | 1,736,239 | ||||||
Eversource Energy | 56,013 | 4,581,863 | ||||||
Sempra Energy | 51,503 | 7,427,763 | ||||||
UGI Corp. | 32,271 | 1,240,497 | ||||||
|
| |||||||
(Cost $28,821,526) | 30,746,171 | |||||||
|
| |||||||
TOTAL COMMON STOCKS (Cost $2,441,325,772) | 3,171,321,268 | |||||||
|
| |||||||
SECURITIES LENDING COLLATERAL — 0.0% | ||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (b)(c) | 865,404 | 865,404 | ||||||
|
| |||||||
CASH EQUIVALENTS — 0.0% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (b) | 860,638 | 860,638 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 99.9% (Cost $2,443,051,814) | $ | 3,173,047,310 | ||||||
Other assets and liabilities, net — 0.1% | 2,673,127 | |||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 3,175,720,437 | ||||||
|
|
See Notes to Financial Statements. | 42 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI USA ESG Leaders Equity ETF (Continued)
February 28, 2022 (Unaudited)
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2022 is as follows:
Value ($) at 8/31/2021 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2022 | Value ($) at 2/28/2022 | ||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 0.0% |
| |||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (b)(c) |
| |||||||||||||||||||||||||||||||||||
852,902 | 12,502 | (d) | — | — | — | 45 | — | 865,404 | 865,404 | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.0% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (b) |
| |||||||||||||||||||||||||||||||||||
3,332,190 | 38,488,158 | (40,959,710 | ) | — | — | 626 | — | 860,638 | 860,638 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
4,185,092 | 38,500,660 | (40,959,710 | ) | — | — | 671 | — | 1,726,042 | 1,726,042 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* | Non-income producing security. |
(a) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2022 amounted to $863,808, which is 0.0% of net assets. |
(b) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
(c) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund held non-cash U.S. Treasury securities collateral having a value of $45,408. |
(d) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2022. |
REIT: | Real Estate Investment Trust |
At February 28, 2022, open futures contracts purchased were as follows:
Contract Description | Currency | Number of Contracts | Notional Amount | Contract Value | Expiration Date | Unrealized Depreciation | ||||||||||||
E-Mini S&P 500 ESG Futures | USD | 10 | $ | 2,035,840 | $ | 1,912,500 | 3/18/2022 | $ | (123,340 | ) | ||||||||
MSCI USA ESG Leaders GTR Index Futures | USD | 50 | 2,538,950 | 2,369,000 | 3/18/2022 | (169,950 | ) | |||||||||||
|
| |||||||||||||||||
Total unrealized depreciation | $ | (293,290 | ) | |||||||||||||||
|
|
For information on the Fund’s policy and additional disclosures regarding open futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
Currency Abbreviations
USD | U.S. Dollar |
See Notes to Financial Statements. | 43 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI USA ESG Leaders Equity ETF (Continued)
February 28, 2022 (Unaudited)
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2022 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
Assets | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stocks (e) | $ | 3,171,321,268 | $ | — | $ | — | $ | 3,171,321,268 | ||||||||
Short-Term Investments (e) | 1,726,042 | — | — | 1,726,042 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 3,173,047,310 | $ | — | $ | — | $ | 3,173,047,310 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liabilities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Derivatives (f) | ||||||||||||||||
Futures Contracts | $ | (293,290 | ) | $ | — | $ | — | $ | (293,290 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | (293,290 | ) | $ | — | $ | — | $ | (293,290 | ) | ||||||
|
|
|
|
|
|
|
|
(e) See Schedule of Investments for additional detailed categorizations.
(f) Derivatives include unrealized appreciation (depreciation) on open futures contracts.
See Notes to Financial Statements. | 44 |
DBX ETF Trust
Schedule of Investments
February 28, 2022 (Unaudited)
Number | Value | |||||||
COMMON STOCKS — 99.8% | ||||||||
Communication Services — 9.5% | ||||||||
Activision Blizzard, Inc. | 23,486 | $ | 1,914,109 | |||||
Alphabet, Inc., Class A* | 9,161 | 24,745,143 | ||||||
Alphabet, Inc., Class C* | 8,516 | 22,974,635 | ||||||
AT&T, Inc. | 215,911 | 5,114,932 | ||||||
Charter Communications, Inc., Class A* | 3,859 | 2,322,269 | ||||||
Comcast Corp., Class A | 138,945 | 6,497,068 | ||||||
Discovery, Inc., Class A* | 4,892 | 137,221 | ||||||
Discovery, Inc., Class C* | 9,887 | 276,539 | ||||||
Electronic Arts, Inc. | 8,746 | 1,137,767 | ||||||
Interpublic Group of Cos., Inc. | 11,851 | 436,117 | ||||||
Live Nation Entertainment, Inc.* | 4,394 | 530,883 | ||||||
News Corp., Class A | 11,871 | 264,961 | ||||||
News Corp., Class B | 3,654 | 81,959 | ||||||
Omnicom Group, Inc. | 6,520 | 546,963 | ||||||
Take-Two Interactive Software, Inc.* | 3,503 | 567,486 | ||||||
Verizon Communications, Inc. | 125,334 | 6,726,676 | ||||||
Walt Disney Co.* | 54,994 | 8,164,409 | ||||||
|
| |||||||
(Cost $76,043,106) | 82,439,137 | |||||||
|
| |||||||
Consumer Discretionary — 13.5% | ||||||||
Amazon.com, Inc.* | 13,259 | 40,721,836 | ||||||
Aptiv PLC* | 8,240 | 1,066,586 | ||||||
Best Buy Co., Inc. | 6,998 | 676,287 | ||||||
Booking Holdings, Inc.* | 1,264 | 2,745,724 | ||||||
BorgWarner, Inc. | 7,272 | 298,225 | ||||||
CarMax, Inc.* | 5,184 | 566,767 | ||||||
Dollar Tree, Inc.* | 7,099 | 1,008,626 | ||||||
eBay, Inc. | 19,638 | 1,072,038 | ||||||
Etsy, Inc.* | 3,865 | 598,650 | ||||||
Ford Motor Co. | 118,262 | 2,076,681 | ||||||
General Motors Co.* | 44,499 | 2,078,993 | ||||||
Hasbro, Inc. | 4,396 | 426,632 | ||||||
Hilton Worldwide Holdings, Inc.* | 8,414 | 1,252,508 | ||||||
Home Depot, Inc. | 32,170 | 10,160,251 | ||||||
Las Vegas Sands Corp.* | 10,013 | 429,157 | ||||||
Lowe’s Cos., Inc. | 21,085 | 4,661,050 | ||||||
Marriott International, Inc., Class A* | 8,299 | 1,411,992 | ||||||
McDonald’s Corp. | 22,568 | 5,523,969 | ||||||
MGM Resorts International | 12,572 | 556,814 | ||||||
Newell Brands, Inc. | 11,459 | 272,151 | ||||||
NIKE, Inc., Class B | 38,739 | 5,289,810 | ||||||
PulteGroup, Inc. | 7,844 | 389,533 | ||||||
PVH Corp. | 2,068 | 202,437 | ||||||
Ralph Lauren Corp. | 1,434 | 189,345 | ||||||
Royal Caribbean Cruises Ltd.* | 6,640 | 535,981 | ||||||
Starbucks Corp. | 35,667 | 3,273,874 | ||||||
Tapestry, Inc. | 8,801 | 359,961 | ||||||
Target Corp. | 14,986 | 2,993,753 | ||||||
Tesla, Inc.* | 24,726 | 21,522,252 | ||||||
TJX Cos., Inc. | 36,436 | 2,408,420 | ||||||
Under Armour, Inc., Class A* | 6,182 | 110,596 | ||||||
Under Armour, Inc., Class C* | 6,006 | 93,874 | ||||||
VF Corp. | 9,708 | 563,258 | ||||||
Whirlpool Corp. | 1,841 | 370,538 | ||||||
Yum! Brands, Inc. | 9,142 | 1,120,626 | ||||||
|
| |||||||
(Cost $112,942,813) | 117,029,195 | |||||||
|
|
Number | Value | |||||||
Consumer Staples — 5.7% | ||||||||
Archer-Daniels-Midland Co. | 16,770 | $ | 1,315,606 | |||||
Brown-Forman Corp., Class B | 5,582 | 364,114 | ||||||
Campbell Soup Co. | 6,105 | 274,542 | ||||||
Coca-Cola Co. | 118,236 | 7,359,009 | ||||||
Colgate-Palmolive Co. | 25,595 | 1,969,535 | ||||||
Conagra Brands, Inc. | 14,809 | 517,871 | ||||||
Constellation Brands, Inc., Class A | 5,186 | 1,118,205 | ||||||
General Mills, Inc. | 18,452 | 1,244,218 | ||||||
Hershey Co. | 4,434 | 896,821 | ||||||
Hormel Foods Corp. | 8,197 | 390,505 | ||||||
J M Smucker Co. | 3,157 | 425,406 | ||||||
Kellogg Co. | 7,584 | 484,921 | ||||||
Kraft Heinz Co. | 20,380 | 799,304 | ||||||
Kroger Co. | 20,622 | 965,110 | ||||||
McCormick & Co., Inc. | 7,837 | 745,847 | ||||||
Molson Coors Beverage Co., Class B | 5,385 | 280,989 | ||||||
Mondelez International, Inc., Class A | 42,630 | 2,791,412 | ||||||
PepsiCo, Inc. | 42,062 | 6,887,232 | ||||||
Procter & Gamble Co. | 73,534 | 11,463,215 | ||||||
Sysco Corp. | 15,455 | 1,346,131 | ||||||
Tyson Foods, Inc., Class A | 8,866 | 821,524 | ||||||
Walgreens Boots Alliance, Inc. | 21,688 | 999,600 | ||||||
Walmart, Inc. | 43,315 | 5,854,455 | ||||||
|
| |||||||
(Cost $44,776,455) | 49,315,572 | |||||||
|
| |||||||
Energy — 4.0% | ||||||||
APA Corp. | 12,218 | 435,327 | ||||||
Chevron Corp. | 58,566 | 8,433,504 | ||||||
ConocoPhillips | 40,875 | 3,877,402 | ||||||
Devon Energy Corp. | 19,089 | 1,136,750 | ||||||
Exxon Mobil Corp. | 128,259 | 10,058,071 | ||||||
Halliburton Co. | 26,843 | 900,046 | ||||||
Hess Corp. | 8,262 | 834,957 | ||||||
Kinder Morgan, Inc. | 58,735 | 1,021,989 | ||||||
Marathon Petroleum Corp. | 19,755 | 1,538,322 | ||||||
Occidental Petroleum Corp. | 26,863 | 1,174,719 | ||||||
ONEOK, Inc. | 13,536 | 883,901 | ||||||
Pioneer Natural Resources Co. | 7,020 | 1,681,992 | ||||||
Schlumberger N.V. | 42,116 | 1,652,632 | ||||||
Williams Cos., Inc. | 36,810 | 1,151,417 | ||||||
|
| |||||||
(Cost $24,298,113) | 34,781,029 | |||||||
|
| |||||||
Financials — 10.3% | ||||||||
Aflac, Inc. | 19,244 | 1,175,616 | ||||||
Allstate Corp. | 9,216 | 1,127,670 | ||||||
American Express Co. | 19,090 | 3,713,769 | ||||||
Ameriprise Financial, Inc. | 3,551 | 1,064,554 | ||||||
Arthur J Gallagher & Co. | 6,201 | 980,936 | ||||||
Assurant, Inc. | 1,834 | 311,248 | ||||||
Bank of America Corp. | 219,299 | 9,693,016 | ||||||
Bank of New York Mellon Corp. | 23,149 | 1,230,369 | ||||||
BlackRock, Inc. | 4,325 | 3,217,324 | ||||||
Capital One Financial Corp. | 12,945 | 1,984,080 | ||||||
Cboe Global Markets, Inc. | 3,195 | 374,742 | ||||||
Charles Schwab Corp. | 45,342 | 3,829,585 | ||||||
Chubb Ltd. | 13,282 | 2,704,747 | ||||||
Citigroup, Inc. | 60,403 | 3,577,670 | ||||||
CME Group, Inc. | 10,906 | 2,579,596 |
See Notes to Financial Statements. | 45 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P 500 ESG ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Financials (Continued) | ||||||||
Comerica, Inc. | 4,072 | $ | 388,835 | |||||
Discover Financial Services | 9,295 | 1,147,375 | ||||||
Fifth Third Bancorp | 21,541 | 1,030,521 | ||||||
Franklin Resources, Inc. | 9,360 | 278,273 | ||||||
Globe Life, Inc. | 2,732 | 275,823 | ||||||
Goldman Sachs Group, Inc. | 10,380 | 3,542,590 | ||||||
Hartford Financial Services Group, Inc. | 10,858 | 754,414 | ||||||
Intercontinental Exchange, Inc. | 17,027 | 2,181,499 | ||||||
Invesco Ltd. | 10,375 | 220,365 | ||||||
JPMorgan Chase & Co. | 89,864 | 12,742,715 | ||||||
KeyCorp | 29,356 | 735,955 | ||||||
Lincoln National Corp. | 5,386 | 363,124 | ||||||
MarketAxess Holdings, Inc. | 1,200 | 457,716 | ||||||
Marsh & McLennan Cos., Inc. | 15,332 | 2,382,746 | ||||||
MetLife, Inc. | 22,497 | 1,519,672 | ||||||
Moody’s Corp. | 4,861 | 1,565,388 | ||||||
Morgan Stanley | 44,103 | 4,001,906 | ||||||
MSCI, Inc. | 2,547 | 1,277,804 | ||||||
Nasdaq, Inc. | 3,477 | 595,089 | ||||||
Northern Trust Corp. | 6,272 | 714,381 | ||||||
PNC Financial Services Group, Inc. | 12,833 | 2,556,975 | ||||||
Principal Financial Group, Inc. | 7,541 | 532,696 | ||||||
Progressive Corp. | 17,650 | 1,869,665 | ||||||
Prudential Financial, Inc. | 11,741 | 1,311,000 | ||||||
Raymond James Financial, Inc. | 5,370 | 588,821 | ||||||
Regions Financial Corp. | 29,066 | 703,107 | ||||||
S&P Global, Inc. | 10,775 | 4,048,063 | ||||||
State Street Corp. | 11,072 | 944,774 | ||||||
Synchrony Financial | 16,537 | 707,453 | ||||||
T. Rowe Price Group, Inc. | 6,934 | 1,002,379 | ||||||
Travelers Cos., Inc. | 7,546 | 1,296,629 | ||||||
|
| |||||||
(Cost $77,786,844) | 89,302,675 | |||||||
|
| |||||||
Health Care — 12.9% | ||||||||
Abbott Laboratories | 53,676 | 6,474,399 | ||||||
AbbVie, Inc. | 53,558 | 7,914,266 | ||||||
Agilent Technologies, Inc. | 9,257 | 1,206,743 | ||||||
AmerisourceBergen Corp. | 4,418 | 629,698 | ||||||
Amgen, Inc. | 17,200 | 3,895,456 | ||||||
Anthem, Inc. | 7,398 | 3,342,786 | ||||||
Baxter International, Inc. | 15,329 | 1,302,505 | ||||||
Becton Dickinson and Co. | 8,713 | 2,363,663 | ||||||
Biogen, Inc.* | 4,673 | 986,050 | ||||||
Bio-Rad Laboratories, Inc., Class A* | 626 | 391,851 | ||||||
Boston Scientific Corp.* | 42,987 | 1,898,736 | ||||||
Bristol-Myers Squibb Co. | 67,993 | 4,669,079 | ||||||
Cardinal Health, Inc. | 8,796 | 475,072 | ||||||
Cigna Corp. | 10,093 | 2,399,914 | ||||||
CVS Health Corp. | 39,748 | 4,119,880 | ||||||
Danaher Corp. | 19,247 | 5,281,569 | ||||||
DaVita, Inc.* | 2,114 | 238,396 | ||||||
Edwards Lifesciences Corp.* | 18,931 | 2,127,276 | ||||||
Eli Lilly & Co. | 24,129 | 6,031,044 | ||||||
Gilead Sciences, Inc. | 38,138 | 2,303,535 | ||||||
Henry Schein, Inc.* | 4,235 | 365,819 | ||||||
Hologic, Inc.* | 7,845 | 558,329 | ||||||
Humana, Inc. | 3,921 | 1,702,969 | ||||||
IDEXX Laboratories, Inc.* | 2,607 | 1,387,836 |
Number | Value | |||||||
Health Care (Continued) | ||||||||
Illumina, Inc.* | 4,767 | $ | 1,556,902 | |||||
Incyte Corp.* | 5,666 | 386,988 | ||||||
Laboratory Corp. of America Holdings* | 3,008 | 815,950 | ||||||
McKesson Corp. | 4,824 | 1,326,407 | ||||||
Medtronic PLC | 40,849 | 4,288,736 | ||||||
Merck & Co., Inc. | 76,753 | 5,877,745 | ||||||
Mettler-Toledo International, Inc.* | 723 | 1,018,519 | ||||||
PerkinElmer, Inc. | 3,850 | 691,498 | ||||||
Pfizer, Inc. | 170,813 | 8,017,962 | ||||||
Quest Diagnostics, Inc. | 3,681 | 483,205 | ||||||
Regeneron Pharmaceuticals, Inc.* | 3,160 | 1,954,018 | ||||||
Thermo Fisher Scientific, Inc. | 11,916 | 6,482,304 | ||||||
UnitedHealth Group, Inc. | 28,633 | 13,625,586 | ||||||
Vertex Pharmaceuticals, Inc.* | 7,901 | 1,817,388 | ||||||
Viatris, Inc. | 36,451 | 401,325 | ||||||
Waters Corp.* | 1,810 | 573,281 | ||||||
West Pharmaceutical Services, Inc. | 2,238 | 866,285 | ||||||
|
| |||||||
(Cost $99,311,930) | 112,250,970 | |||||||
|
| |||||||
Industrials — 6.4% | ||||||||
Alaska Air Group, Inc.* | 3,582 | 201,094 | ||||||
American Airlines Group, Inc.* | 18,541 | 319,832 | ||||||
AMETEK, Inc. | 6,994 | 907,751 | ||||||
Caterpillar, Inc. | 16,568 | 3,107,825 | ||||||
Cintas Corp. | 2,662 | 999,102 | ||||||
CSX Corp. | 69,308 | 2,350,234 | ||||||
Cummins, Inc. | 4,449 | 908,130 | ||||||
Deere & Co. | 8,629 | 3,106,613 | ||||||
Delta Air Lines, Inc.* | 19,388 | 773,969 | ||||||
Dover Corp. | 4,326 | 678,576 | ||||||
Eaton Corp. PLC | 11,994 | 1,850,554 | ||||||
Emerson Electric Co. | 18,124 | 1,684,082 | ||||||
Fastenal Co. | 17,324 | 891,493 | ||||||
FedEx Corp. | 7,418 | 1,648,799 | ||||||
Fortive Corp. | 10,871 | 703,897 | ||||||
General Electric Co. | 33,250 | 3,175,708 | ||||||
Howmet Aerospace, Inc. | 11,743 | 421,809 | ||||||
IDEX Corp. | 2,251 | 431,967 | ||||||
Illinois Tool Works, Inc. | 8,720 | 1,886,485 | ||||||
Ingersoll Rand, Inc. | 12,284 | 620,588 | ||||||
Johnson Controls International PLC | 21,846 | 1,419,116 | ||||||
L3Harris Technologies, Inc. | 6,097 | 1,538,334 | ||||||
Leidos Holdings, Inc. | 4,017 | 409,091 | ||||||
Nielsen Holdings PLC | 10,509 | 183,067 | ||||||
Norfolk Southern Corp. | 7,580 | 1,944,422 | ||||||
PACCAR, Inc. | 10,518 | 965,658 | ||||||
Parker-Hannifin Corp. | 3,923 | 1,162,738 | ||||||
Pentair PLC | 4,944 | 286,307 | ||||||
Republic Services, Inc. | 6,226 | 748,863 | ||||||
Robert Half International, Inc. | 3,447 | 414,640 | ||||||
Rockwell Automation, Inc. | 3,518 | 937,828 | ||||||
Roper Technologies, Inc. | 3,167 | 1,419,513 | ||||||
Snap-on, Inc. | 1,630 | 342,593 | ||||||
Stanley Black & Decker, Inc. | 4,859 | 790,559 | ||||||
Trane Technologies PLC | 7,181 | 1,105,371 | ||||||
TransDigm Group, Inc.* | 1,689 | 1,125,871 | ||||||
Union Pacific Corp. | 19,764 | 4,860,956 | ||||||
United Parcel Service, Inc., Class B | 22,067 | 4,643,338 |
See Notes to Financial Statements. | 46 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P 500 ESG ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Industrials (Continued) | ||||||||
United Rentals, Inc.* | 2,192 | $ | 704,991 | |||||
Verisk Analytics, Inc. | 4,899 | 868,789 | ||||||
W.W. Grainger, Inc. | 1,321 | 630,196 | ||||||
Waste Management, Inc. | 11,755 | 1,697,422 | ||||||
Westinghouse Air Brake Technologies Corp. | 5,728 | 531,673 | ||||||
Xylem, Inc. | 5,355 | 476,327 | ||||||
|
| |||||||
(Cost $50,728,846) | 55,876,171 | |||||||
|
| |||||||
Information Technology — 31.0% | ||||||||
Accenture PLC, Class A | 19,261 | 6,086,861 | ||||||
Adobe, Inc.* | 14,444 | 6,755,170 | ||||||
Advanced Micro Devices, Inc.* | 49,751 | 6,136,288 | ||||||
Akamai Technologies, Inc.* | 4,912 | 531,773 | ||||||
Amphenol Corp., Class A | 18,101 | 1,375,857 | ||||||
Analog Devices, Inc. | 16,249 | 2,604,552 | ||||||
ANSYS, Inc.* | 2,635 | 854,241 | ||||||
Apple, Inc. | 474,034 | 78,272,494 | ||||||
Applied Materials, Inc. | 27,778 | 3,727,808 | ||||||
Arista Networks, Inc.* | 6,727 | 825,605 | ||||||
Autodesk, Inc.* | 6,650 | 1,464,530 | ||||||
Cisco Systems, Inc. | 127,916 | 7,133,875 | ||||||
Corning, Inc. | 23,283 | 940,633 | ||||||
DXC Technology Co.* | 7,482 | 254,613 | ||||||
Hewlett Packard Enterprise Co. | 39,488 | 628,649 | ||||||
HP, Inc. | 35,099 | 1,206,002 | ||||||
Intel Corp. | 123,143 | 5,873,921 | ||||||
Intuit, Inc. | 8,587 | 4,073,415 | ||||||
Juniper Networks, Inc. | 9,779 | 330,433 | ||||||
Keysight Technologies, Inc.* | 5,657 | 890,242 | ||||||
KLA Corp. | 4,654 | 1,621,919 | ||||||
Lam Research Corp. | 4,350 | 2,441,873 | ||||||
Mastercard, Inc., Class A | 26,393 | 9,523,122 | ||||||
Micron Technology, Inc. | 33,884 | 3,010,932 | ||||||
Microsoft Corp. | 228,367 | 68,233,776 | ||||||
Motorola Solutions, Inc. | 5,173 | 1,140,284 | ||||||
NortonLifeLock, Inc. | 17,288 | 501,006 | ||||||
NVIDIA Corp. | 76,041 | 18,542,598 | ||||||
Oracle Corp. | 49,121 | 3,731,722 | ||||||
QUALCOMM, Inc. | 34,401 | 5,916,628 | ||||||
salesforce.com, Inc.* | 29,817 | 6,277,373 | ||||||
Seagate Technology Holdings PLC | 6,071 | 626,284 | ||||||
TE Connectivity Ltd. | 10,050 | 1,431,422 | ||||||
Texas Instruments, Inc. | 28,019 | 4,762,950 | ||||||
Trimble, Inc.* | 7,581 | 528,775 | ||||||
Visa, Inc., Class A (a) | 51,134 | 11,051,080 | ||||||
Zebra Technologies Corp., Class A* | 1,660 | 686,144 | ||||||
|
| |||||||
(Cost $227,170,446) | 269,994,850 | |||||||
|
| |||||||
Materials — 2.5% | ||||||||
Air Products and Chemicals, Inc. | 6,667 | 1,575,412 | ||||||
Albemarle Corp. | 3,530 | 691,492 | ||||||
Ball Corp. | 9,974 | 895,067 | ||||||
CF Industries Holdings, Inc. | 6,247 | 507,194 | ||||||
Corteva, Inc. | 22,521 | 1,171,768 | ||||||
Dow, Inc. | 22,539 | 1,328,899 | ||||||
Eastman Chemical Co. | 4,302 | 509,658 |
Number | Value | |||||||
Materials (Continued) | ||||||||
Ecolab, Inc. | 7,503 | $ | 1,322,479 | |||||
FMC Corp. | 3,926 | 460,323 | ||||||
Freeport-McMoRan, Inc. | 44,283 | 2,079,087 | ||||||
International Flavors & Fragrances, Inc. | 7,517 | 999,761 | ||||||
International Paper Co. | 11,861 | 516,309 | ||||||
Linde PLC | 15,669 | 4,594,777 | ||||||
LyondellBasell Industries NV, Class A | 7,827 | 761,019 | ||||||
Martin Marietta Materials, Inc. | 1,862 | 706,443 | ||||||
Mosaic Co. | 10,483 | 549,624 | ||||||
Newmont Corp. | 24,263 | 1,606,211 | ||||||
PPG Industries, Inc. | 7,131 | 951,632 | ||||||
Westrock Co. | 7,968 | 360,711 | ||||||
|
| |||||||
(Cost $19,685,589) | 21,587,866 | |||||||
|
| |||||||
Real Estate — 2.5% | ||||||||
American Tower Corp. REIT | 13,712 | 3,110,841 | ||||||
AvalonBay Communities, Inc. REIT | 4,277 | 1,020,449 | ||||||
Boston Properties, Inc. REIT | 4,333 | 529,969 | ||||||
CBRE Group, Inc., Class A* | 10,496 | 1,016,538 | ||||||
Digital Realty Trust, Inc. REIT | 8,473 | 1,143,177 | ||||||
Duke Realty Corp. REIT | 11,371 | 602,663 | ||||||
Equinix, Inc. REIT | 2,687 | 1,907,044 | ||||||
Equity Residential REIT | 10,445 | 890,958 | ||||||
Essex Property Trust, Inc. REIT | 1,933 | 613,090 | ||||||
Extra Space Storage, Inc. REIT | 3,991 | 750,907 | ||||||
Healthpeak Properties, Inc. REIT | 16,495 | 512,335 | ||||||
Host Hotels & Resorts, Inc. REIT* | 21,532 | 393,390 | ||||||
Iron Mountain, Inc. REIT | 9,484 | 466,423 | ||||||
Kimco Realty Corp. REIT | 18,161 | 427,328 | ||||||
Prologis, Inc. REIT | 22,434 | 3,271,999 | ||||||
Realty Income Corp. REIT | 16,644 | 1,100,002 | ||||||
Regency Centers Corp. REIT | 4,521 | 297,889 | ||||||
Simon Property Group, Inc. REIT | 10,018 | 1,378,076 | ||||||
Ventas, Inc. REIT | 11,921 | 643,734 | ||||||
Vornado Realty Trust REIT | 4,342 | 187,922 | ||||||
Welltower, Inc. REIT | 13,230 | 1,101,927 | ||||||
Weyerhaeuser Co. REIT | 22,742 | 884,209 | ||||||
|
| |||||||
(Cost $20,646,965) | 22,250,870 | |||||||
|
| |||||||
Utilities — 1.5% | ||||||||
American Water Works Co., Inc. | 5,550 | 838,549 | ||||||
Consolidated Edison, Inc. | 10,688 | 916,710 | ||||||
Edison International | 11,471 | 727,491 | ||||||
Entergy Corp. | 6,075 | 639,151 | ||||||
Eversource Energy | 10,422 | 852,519 | ||||||
Exelon Corp. | 29,435 | 1,252,754 | ||||||
FirstEnergy Corp. | 16,436 | 687,847 | ||||||
NextEra Energy, Inc. | 59,384 | 4,647,986 | ||||||
Public Service Enterprise Group, Inc. | 15,311 | 992,612 | ||||||
Sempra Energy | 9,573 | 1,380,618 | ||||||
|
| |||||||
(Cost $12,059,791) | 12,936,237 | |||||||
|
| |||||||
TOTAL COMMON STOCKS | 867,764,572 | |||||||
|
|
See Notes to Financial Statements. | 47 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P 500 ESG ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
CASH EQUIVALENTS — 0.1% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (b) | 451,432 | $ | 451,432 | |||||
|
| |||||||
TOTAL INVESTMENTS — 99.9% (Cost $765,902,330) | $ | 868,216,004 | ||||||
Other assets and liabilities, net — 0.1% | 1,016,235 | |||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 869,232,239 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2022 is as follows:
Value ($) at 8/31/2021 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2022 | Value ($) at 2/28/2022 | ||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 0.0% |
| |||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (b)(c) |
| |||||||||||||||||||||||||||||||||||
107,727 | — | (107,727 | )(d) | — | — | 3 | — | — | — | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.1% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (b) |
| |||||||||||||||||||||||||||||||||||
1,353,973 | 7,391,417 | (8,293,958 | ) | — | — | 206 | — | 451,432 | 451,432 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
1,461,700 | 7,391,417 | (8,401,685 | ) | — | — | 209 | — | 451,432 | 451,432 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* | Non-income producing security. |
(a) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2022 amounted to $1,251,335, which is 0.1% of net assets. |
(b) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
(c) | Represents collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund held non-cash U.S. Treasury securities collateral having a value of $1,295,096. |
(d) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2022. |
REIT: | Real Estate Investment Trust |
At February 28, 2022, open futures contracts purchased were as follows:
Contract Description | Currency | Number of Contracts | Notional Amount | Contract Value | Expiration Date | Unrealized Depreciation | ||||||||||||||||||
E-Mini S&P 500 ESG Futures | USD | 6 | $ | 1,172,720 | $ | 1,147,500 | 3/18/2022 | $ | (25,220 | ) | ||||||||||||||
S&P 500 E-Mini Futures | USD | 1 | 228,625 | 218,400 | 3/18/2022 | (10,225 | ) | |||||||||||||||||
|
| |||||||||||||||||||||||
Total unrealized depreciation | $ | (35,445 | ) | |||||||||||||||||||||
|
|
For information on the Fund’s policy and additional disclosures regarding open futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
Currency Abbreviations
USD | U.S. Dollar |
See Notes to Financial Statements. | 48 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P 500 ESG ETF (Continued)
February 28, 2022 (Unaudited)
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2022 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
Assets | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stocks (e) | $ | 867,764,572 | $ | — | $ | — | $ | 867,764,572 | ||||||||
Short-Term Investments (e) | 451,432 | — | — | 451,432 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 868,216,004 | $ | — | $ | — | $ | 868,216,004 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liabilities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Derivatives (f) | ||||||||||||||||
Futures Contracts | $ | (35,445 | ) | $ | — | $ | — | $ | (35,445 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | (35,445 | ) | $ | — | $ | — | $ | (35,445 | ) | ||||||
|
|
|
|
|
|
|
|
(e) | See Schedule of Investments for additional detailed categorizations. |
(f) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
See Notes to Financial Statements. | 49 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P MidCap 400 ESG ETF
February 28, 2022 (Unaudited)
Number | Value | |||||||
COMMON STOCKS — 99.4% | ||||||||
Communication Services — 2.0% | ||||||||
Cable One, Inc. | 36 | $ | 51,583 | |||||
Iridium Communications, Inc.* | 928 | 36,739 | ||||||
New York Times Co., Class A | 1,185 | 52,128 | ||||||
TEGNA, Inc. | 1,565 | 35,870 | ||||||
TripAdvisor, Inc.* | 705 | 17,935 | ||||||
Yelp, Inc.* | 495 | 16,776 | ||||||
|
| |||||||
(Cost $245,046) | 211,031 | |||||||
|
| |||||||
Consumer Discretionary — 15.3% | ||||||||
American Eagle Outfitters, Inc. (a) | 1,092 | 23,019 | ||||||
AutoNation, Inc.* | 293 | 33,595 | ||||||
Brunswick Corp. | 554 | 52,918 | ||||||
Capri Holdings Ltd.* | 1,077 | 72,956 | ||||||
Carter’s, Inc. | 299 | 28,907 | ||||||
Columbia Sportswear Co. | 250 | 23,180 | ||||||
Cracker Barrel Old Country Store, Inc. | 170 | 22,826 | ||||||
Dana, Inc. | 1,048 | 19,514 | ||||||
Deckers Outdoor Corp.* | 196 | 56,573 | ||||||
Dick’s Sporting Goods, Inc. (a) | 461 | 48,405 | ||||||
Foot Locker, Inc. | 644 | 20,363 | ||||||
Gentex Corp. | 1,692 | 51,217 | ||||||
Goodyear Tire & Rubber Co.* | 1,990 | 30,825 | ||||||
Graham Holdings Co., Class B | 28 | 16,832 | ||||||
Grand Canyon Education, Inc.* | 300 | 26,049 | ||||||
H&R Block, Inc. | 1,248 | 30,963 | ||||||
Harley-Davidson, Inc. | 1,109 | 45,802 | ||||||
Helen of Troy Ltd.* | 171 | 35,170 | ||||||
KB Home | 598 | 23,089 | ||||||
Kohl’s Corp. | 1,078 | 59,958 | ||||||
Lear Corp. | 427 | 67,184 | ||||||
Lithia Motors, Inc. | 217 | 73,958 | ||||||
Mattel, Inc.* | 2,509 | 62,675 | ||||||
Murphy USA, Inc. | 167 | 30,184 | ||||||
Nordstrom, Inc.* | 813 | 16,862 | ||||||
Papa John’s International, Inc. | 230 | 24,569 | ||||||
Polaris, Inc. | 402 | 48,847 | ||||||
RH* | 123 | 49,430 | ||||||
Service Corp. International | 1,181 | 71,864 | ||||||
Six Flags Entertainment Corp.* | 554 | 24,188 | ||||||
Tempur Sealy International, Inc. | 1,364 | 45,026 | ||||||
Texas Roadhouse, Inc. | 502 | 47,645 | ||||||
Thor Industries, Inc. (a) | 389 | 35,204 | ||||||
Toll Brothers, Inc. | 836 | 45,361 | ||||||
Travel + Leisure Co. | 619 | 34,695 | ||||||
Urban Outfitters, Inc.* | 465 | 12,792 | ||||||
Visteon Corp.* | 202 | 24,274 | ||||||
Wendy’s Co. | 1,264 | 28,743 | ||||||
Williams-Sonoma, Inc. | 532 | 77,066 | ||||||
Wingstop, Inc. | 210 | 30,523 | ||||||
Wyndham Hotels & Resorts, Inc. | 668 | 57,722 | ||||||
|
| |||||||
(Cost $1,646,060) | 1,630,973 | |||||||
|
| |||||||
Consumer Staples — 3.5% | ||||||||
BJ’s Wholesale Club Holdings, Inc.* | 966 | 60,732 | ||||||
Boston Beer Co., Inc., Class A* | 70 | 26,842 | ||||||
Coty, Inc., Class A* | 2,398 | 21,990 |
Number | Value | |||||||
Consumer Staples (Continued) | ||||||||
Darling Ingredients, Inc.* | 1,168 | $ | 84,657 | |||||
Flowers Foods, Inc. | 1,400 | 38,374 | ||||||
Hain Celestial Group, Inc.* | 678 | 24,652 | ||||||
Ingredion, Inc. | 474 | 42,063 | ||||||
Nu Skin Enterprises, Inc., Class A | 353 | 16,376 | ||||||
Pilgrim’s Pride Corp.* | 347 | 8,182 | ||||||
Sanderson Farms, Inc. | 152 | 27,146 | ||||||
Sprouts Farmers Market, Inc.* | 801 | 22,812 | ||||||
|
| |||||||
(Cost $368,296) | 373,826 | |||||||
|
| |||||||
Energy — 1.2% | ||||||||
CNX Resources Corp.* | 1,501 | 24,526 | ||||||
EQT Corp. | 2,186 | 50,584 | ||||||
Equitrans Midstream Corp. | 2,904 | 18,615 | ||||||
Murphy Oil Corp. | 1,034 | 35,849 | ||||||
|
| |||||||
(Cost $99,426) | 129,574 | |||||||
|
| |||||||
Financials — 15.6% | ||||||||
Affiliated Managers Group, Inc. | 288 | 39,848 | ||||||
Alleghany Corp.* | 99 | 65,530 | ||||||
Associated Banc-Corp. | 1,083 | 26,414 | ||||||
Bank of Hawaii Corp. | 292 | 25,165 | ||||||
Bank OZK | 865 | 40,672 | ||||||
Cadence Bank | 1,415 | 44,742 | ||||||
CNO Financial Group, Inc. | 892 | 21,560 | ||||||
Commerce Bancshares, Inc. | 797 | 57,209 | ||||||
East West Bancorp, Inc. | 1,017 | 89,048 | ||||||
Essent Group Ltd. | 784 | 34,637 | ||||||
Evercore, Inc., Class A | 278 | 35,309 | ||||||
First American Financial Corp. | 788 | 52,827 | ||||||
First Horizon Corp. | 3,859 | 90,609 | ||||||
FNB Corp. | 2,440 | 32,769 | ||||||
Fulton Financial Corp. | 1,165 | 20,993 | ||||||
Hancock Whitney Corp. | 616 | 34,299 | ||||||
Hanover Insurance Group, Inc. | 265 | 36,970 | ||||||
Interactive Brokers Group, Inc., Class A | 620 | 41,032 | ||||||
Janus Henderson Group PLC | 1,205 | 40,452 | ||||||
Kemper Corp. | 427 | 22,819 | ||||||
MGIC Investment Corp. | 2,305 | 34,990 | ||||||
Navient Corp. | 1,142 | 20,111 | ||||||
New York Community Bancorp, Inc. | 3,268 | 37,713 | ||||||
PacWest Bancorp | 839 | 41,463 | ||||||
Pinnacle Financial Partners, Inc. | 540 | 54,583 | ||||||
Primerica, Inc. | 281 | 36,499 | ||||||
PROG Holdings, Inc.* | 409 | 12,532 | ||||||
Prosperity Bancshares, Inc. | 662 | 49,292 | ||||||
Reinsurance Group of America, Inc. | 479 | 53,102 | ||||||
RenaissanceRe Holdings Ltd. | 327 | 49,305 | ||||||
RLI Corp. | 282 | 28,623 | ||||||
SEI Investments Co. | 769 | 45,048 | ||||||
Selective Insurance Group, Inc. | 430 | 35,772 | ||||||
SLM Corp. | 2,080 | 40,976 | ||||||
Synovus Financial Corp. | 1,037 | 54,598 | ||||||
Texas Capital Bancshares, Inc.* | 364 | 24,242 | ||||||
UMB Financial Corp. | 308 | 31,373 | ||||||
Umpqua Holdings Corp. | 1,559 | 33,285 | ||||||
Webster Financial Corp. | 1,289 | 77,611 |
See Notes to Financial Statements. | 50 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P MidCap 400 ESG ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Financials (Continued) | ||||||||
Wintrust Financial Corp. | 409 | $ | 40,638 | |||||
|
| |||||||
(Cost $1,542,848) | 1,654,660 | |||||||
|
| |||||||
Health Care — 8.5% | ||||||||
Acadia Healthcare Co., Inc.* | 656 | 37,202 | ||||||
Amedisys, Inc.* | 228 | 36,535 | ||||||
Encompass Health Corp. | 711 | 46,940 | ||||||
Exelixis, Inc.* | 2,308 | 47,383 | ||||||
Haemonetics Corp.* | 357 | 20,603 | ||||||
ICU Medical, Inc.* | 145 | 34,326 | ||||||
Integra LifeSciences Holdings Corp.* | 514 | 34,469 | ||||||
Jazz Pharmaceuticals PLC* | 445 | 61,152 | ||||||
LHC Group, Inc.* | 225 | 30,638 | ||||||
LivaNova PLC* | 381 | 30,030 | ||||||
Masimo Corp.* | 366 | 57,627 | ||||||
Molina Healthcare, Inc.* | 420 | 128,885 | ||||||
Neurocrine Biosciences, Inc.* | 674 | 60,572 | ||||||
NuVasive, Inc.* | 372 | 20,133 | ||||||
Penumbra, Inc.* | 249 | 55,213 | ||||||
Quidel Corp.* | 276 | 29,198 | ||||||
Syneos Health, Inc.* | 734 | 58,133 | ||||||
Tenet Healthcare Corp.* | 759 | 65,266 | ||||||
United Therapeutics Corp.* | 320 | 53,184 | ||||||
|
| |||||||
(Cost $981,467) | 907,489 | |||||||
|
| |||||||
Industrials — 19.4% | ||||||||
Acuity Brands, Inc. | 246 | 44,863 | ||||||
AECOM | 1,032 | 74,985 | ||||||
AGCO Corp. | 440 | 52,870 | ||||||
Avis Budget Group, Inc.* | 285 | 52,280 | ||||||
Axon Enterprise, Inc.* | 465 | 65,216 | ||||||
Brink’s Co. | 351 | 24,591 | ||||||
Carlisle Cos., Inc. | 375 | 89,025 | ||||||
Clean Harbors, Inc.* | 365 | 34,832 | ||||||
Colfax Corp.* | 972 | 39,084 | ||||||
Crane Co. | 355 | 35,883 | ||||||
Curtiss-Wright Corp. | 286 | 42,191 | ||||||
Donaldson Co., Inc. | 889 | 48,246 | ||||||
Dycom Industries, Inc.* | 223 | 19,414 | ||||||
EMCOR Group, Inc. | 379 | 43,790 | ||||||
EnerSys | 303 | 22,037 | ||||||
Flowserve Corp. | 935 | 28,396 | ||||||
FTI Consulting, Inc.* | 241 | 35,186 | ||||||
Graco, Inc. | 1,220 | 87,950 | ||||||
Hexcel Corp. | 596 | 34,508 | ||||||
Hubbell, Inc. | 389 | 69,339 | ||||||
Insperity, Inc. | 255 | 22,937 | ||||||
ITT, Inc. | 608 | 53,425 | ||||||
KBR, Inc. | 1,015 | 50,385 | ||||||
Kennametal, Inc. | 593 | 18,804 | ||||||
Kirby Corp.* | 432 | 28,145 | ||||||
Lincoln Electric Holdings, Inc. | 424 | 54,043 | ||||||
ManpowerGroup, Inc. | 391 | 41,556 | ||||||
MasTec, Inc.* | 405 | 31,898 | ||||||
Mercury Systems, Inc.* | 402 | 24,209 | ||||||
Middleby Corp.* | 394 | 69,982 | ||||||
MillerKnoll, Inc. | 541 | 21,034 |
Number | Value | |||||||
Industrials (Continued) | ||||||||
MSA Safety, Inc. | 258 | $ | 35,888 | |||||
Oshkosh Corp. | 487 | 54,077 | ||||||
Owens Corning | 716 | 66,724 | ||||||
Regal Rexnord Corp. | 489 | 78,411 | ||||||
Ryder System, Inc. | 386 | 30,432 | ||||||
Science Applications International Corp. | 407 | 35,690 | ||||||
Stericycle, Inc.* | 662 | 38,634 | ||||||
Terex Corp. | 498 | 20,557 | ||||||
Tetra Tech, Inc. | 384 | 60,968 | ||||||
Timken Co. | 495 | 32,452 | ||||||
Toro Co. | 763 | 71,577 | ||||||
Trinity Industries, Inc. | 581 | 16,768 | ||||||
Univar Solutions, Inc.* | 1,224 | 37,589 | ||||||
Werner Enterprises, Inc. | 437 | 18,992 | ||||||
Woodward, Inc. | 455 | 56,707 | ||||||
XPO Logistics, Inc.* | 707 | 51,385 | ||||||
|
| |||||||
(Cost $1,943,182) | 2,067,955 | |||||||
|
| |||||||
Information Technology — 13.1% | ||||||||
ACI Worldwide, Inc.* | 837 | 28,056 | ||||||
Alliance Data Systems Corp. | 352 | 23,742 | ||||||
Amkor Technology, Inc. | 714 | 16,186 | ||||||
Arrow Electronics, Inc.* | 496 | 60,453 | ||||||
Avnet, Inc. | 709 | 29,828 | ||||||
Belden, Inc. | 320 | 18,032 | ||||||
Blackbaud, Inc.* | 318 | 19,872 | ||||||
Ciena Corp.* | 1,110 | 75,946 | ||||||
CMC Materials, Inc. | 203 | 37,642 | ||||||
Cognex Corp. | 1,268 | 85,666 | ||||||
Coherent, Inc.* | 176 | 46,520 | ||||||
CommVault Systems, Inc.* | 323 | 20,320 | ||||||
Fair Isaac Corp.* | 196 | 92,353 | ||||||
First Solar, Inc.* | 702 | 52,854 | ||||||
Jabil, Inc. | 1,029 | 59,487 | ||||||
Littelfuse, Inc. | 177 | 45,703 | ||||||
LiveRamp Holdings, Inc.* | 483 | 20,846 | ||||||
Manhattan Associates, Inc.* | 449 | 60,022 | ||||||
Maximus, Inc. | 440 | 34,698 | ||||||
National Instruments Corp. | 942 | 37,821 | ||||||
Paylocity Holding Corp.* | 285 | 60,545 | ||||||
Qualys, Inc.* | 238 | 29,824 | ||||||
Semtech Corp.* | 454 | 31,499 | ||||||
Silicon Laboratories, Inc.* | 286 | 43,961 | ||||||
Synaptics, Inc.* | 278 | 63,504 | ||||||
TD SYNNEX Corp. | 293 | 29,836 | ||||||
Teradata Corp.* | 772 | 38,592 | ||||||
Universal Display Corp. | 315 | 48,797 | ||||||
Viasat, Inc.* | 531 | 24,235 | ||||||
WEX, Inc.* | 319 | 53,755 | ||||||
Wolfspeed, Inc.* | 834 | 85,668 | ||||||
Xerox Holdings Corp. | 974 | 19,198 | ||||||
|
| |||||||
(Cost $1,403,005) | 1,395,461 | |||||||
|
| |||||||
Materials — 7.5% | ||||||||
AptarGroup, Inc. | 476 | 58,015 | ||||||
Ashland Global Holdings, Inc. | 410 | 37,835 | ||||||
Avient Corp. | 647 | 33,896 |
See Notes to Financial Statements. | 51 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P MidCap 400 ESG ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Materials (Continued) | ||||||||
Cabot Corp. | 411 | $ | 30,069 | |||||
Chemours Co. | 1,156 | 31,906 | ||||||
Cleveland-Cliffs, Inc.* | 3,257 | 72,827 | ||||||
Commercial Metals Co. | 844 | 32,536 | ||||||
Eagle Materials, Inc. | 289 | 39,544 | ||||||
Greif, Inc., Class A | 194 | 11,153 | ||||||
Ingevity Corp.* | 278 | 18,968 | ||||||
Minerals Technologies, Inc. | 250 | 17,497 | ||||||
Olin Corp. | 1,020 | 52,540 | ||||||
RPM International, Inc. | 935 | 79,073 | ||||||
Scotts Miracle-Gro Co. | 290 | 40,617 | ||||||
Sonoco Products Co. | 702 | 41,221 | ||||||
Steel Dynamics, Inc. | 1,349 | 95,212 | ||||||
United States Steel Corp. | 1,917 | 52,162 | ||||||
Valvoline, Inc. | 1,275 | 41,221 | ||||||
Worthington Industries, Inc. | 238 | 13,571 | ||||||
|
| |||||||
(Cost $725,949) | 799,863 | |||||||
|
| |||||||
Real Estate — 11.8% | ||||||||
American Campus Communities, Inc. REIT | 1,000 | 53,810 | ||||||
Brixmor Property Group, Inc. REIT | 2,133 | 53,581 | ||||||
Camden Property Trust REIT | 734 | 121,191 | ||||||
Corporate Office Properties Trust REIT | 810 | 21,230 | ||||||
Cousins Properties, Inc. REIT | 1,053 | 40,677 | ||||||
CyrusOne, Inc. REIT | 909 | 82,128 | ||||||
Douglas Emmett, Inc. REIT | 1,247 | 39,530 | ||||||
Healthcare Realty Trust, Inc. REIT | 1,048 | 27,332 | ||||||
Highwoods Properties, Inc. REIT | 753 | 32,831 | ||||||
Hudson Pacific Properties, Inc. REIT | 1,078 | 28,459 | ||||||
JBG SMITH Properties REIT | 797 | 21,264 | ||||||
Jones Lang LaSalle, Inc.* | 362 | 89,132 | ||||||
Kilroy Realty Corp. REIT | 753 | 53,930 | ||||||
Life Storage, Inc. REIT | 589 | 74,561 | ||||||
Macerich Co. REIT (a) | 1,531 | 23,424 | ||||||
Medical Properties Trust, Inc. REIT | 4,279 | 87,035 |
Number | Value | |||||||
Real Estate (Continued) | ||||||||
National Retail Properties, Inc. REIT | 1,246 | $ | 53,092 | |||||
Park Hotels & Resorts, Inc. REIT* | 1,677 | 31,595 | ||||||
Pebblebrook Hotel Trust REIT | 950 | 21,384 | ||||||
PotlatchDeltic Corp. REIT | 478 | 26,242 | ||||||
PS Business Parks, Inc. REIT | 144 | 22,938 | ||||||
Rayonier, Inc. REIT | 1,028 | 40,812 | ||||||
Rexford Industrial Realty, Inc. REIT | 1,075 | 75,390 | ||||||
SL Green Realty Corp. REIT | 476 | 37,852 | ||||||
Spirit Realty Capital, Inc. REIT | 881 | 40,852 | ||||||
STORE Capital Corp. REIT | 1,763 | 54,159 | ||||||
|
| |||||||
(Cost $1,127,739) | 1,254,431 | |||||||
|
| |||||||
Utilities — 1.5% | ||||||||
Hawaiian Electric Industries, Inc. | 775 | 31,759 | ||||||
National Fuel Gas Co. | 665 | 41,390 | ||||||
New Jersey Resources Corp. | 688 | 30,011 | ||||||
Southwest Gas Holdings, Inc. | 424 | 30,079 | ||||||
Spire, Inc. | 367 | 24,629 | ||||||
|
| |||||||
(Cost $139,754) | 157,868 | |||||||
|
| |||||||
TOTAL COMMON STOCKS | 10,583,131 | |||||||
|
| |||||||
EXCHANGE-TRADED FUNDS — 0.5% | ||||||||
iShares ESG Screened S&P Mid-Cap ETF | 1,600 | 58,102 | ||||||
|
| |||||||
CASH EQUIVALENTS — 0.1% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (b) | 9,786 | 9,786 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 100.0% (Cost $10,291,403) | $ | 10,651,019 | ||||||
Other assets and liabilities, net — (0.0)% | (2,141 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 10,648,878 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2022 is as follows:
Value ($) at 8/31/2021 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2022 | Value ($) at 2/28/2022 | ||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 0.0% |
| |||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (b)(c) |
| |||||||||||||||||||||||||||||||||||
1,305 | — | (1,305 | )(d) | — | — | — | — | — | — | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.1% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (b) |
| |||||||||||||||||||||||||||||||||||
10,177 | 200,751 | (201,142 | ) | — | — | 1 | — | 9,786 | 9,786 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
11,482 | 200,751 | (202,447 | ) | — | — | 1 | — | 9,786 | 9,786 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* | Non-income producing security. |
(a) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2022 amounted to $123,386, which is 1.2% of net assets. |
(b) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
See Notes to Financial Statements. | 52 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P MidCap 400 ESG ETF (Continued)
February 28, 2022 (Unaudited)
(c) | Represents collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund held non-cash U.S. Treasury securities collateral having a value of $135,638. |
(d) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2022. |
REIT: | Real Estate Investment Trust |
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2022 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
Assets | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stocks (e) | $ | 10,583,131 | $ | — | $ | — | $ | 10,583,131 | ||||||||
Exchange-Traded Funds | 58,102 | — | — | 58,102 | ||||||||||||
Short-Term Investments (e) | 9,786 | — | — | 9,786 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 10,651,019 | $ | — | $ | — | $ | 10,651,019 | ||||||||
|
|
|
|
|
|
|
|
(e) | See Schedule of Investments for additional detailed categorizations. |
See Notes to Financial Statements. | 53 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P SmallCap 600 ESG ETF
February 28, 2022 (Unaudited)
Number | Value | |||||||
COMMON STOCKS — 99.7% | ||||||||
Communication Services — 1.1% | ||||||||
ATN International, Inc. | 154 | $ | 5,133 | |||||
Consolidated Communications Holdings, Inc.* | 1,076 | 7,661 | ||||||
EW Scripps Co., Class A* | 900 | 20,034 | ||||||
Marcus Corp.* | 316 | 5,745 | ||||||
QuinStreet, Inc.* | 742 | 8,347 | ||||||
Scholastic Corp. | 448 | 18,852 | ||||||
Shenandoah Telecommunications Co. | 744 | 16,628 | ||||||
TechTarget, Inc.* | 397 | 31,117 | ||||||
|
| |||||||
(Cost $132,370) | 113,517 | |||||||
|
| |||||||
Consumer Discretionary — 12.5% | ||||||||
Abercrombie & Fitch Co., Class A* | 909 | 34,615 | ||||||
American Axle & Manufacturing Holdings, Inc.* | 1,689 | 15,640 | ||||||
American Public Education, Inc.* | 306 | 6,108 | ||||||
Asbury Automotive Group, Inc.* | 351 | 68,133 | ||||||
Bed Bath & Beyond, Inc.* (a) | 1,522 | 25,707 | ||||||
Big Lots, Inc. | 507 | 17,623 | ||||||
Bloomin’ Brands, Inc.* | 1,213 | 29,852 | ||||||
Boot Barn Holdings, Inc.* | 451 | 39,246 | ||||||
Brinker International, Inc.* | 699 | 29,735 | ||||||
Buckle, Inc. (a) | 440 | 15,840 | ||||||
Caleres, Inc. | 596 | 12,373 | ||||||
Cato Corp., Class A | 267 | 4,699 | ||||||
Cheesecake Factory, Inc.* | 746 | 31,921 | ||||||
Chico’s FAS, Inc.* | 1,788 | 8,404 | ||||||
Children’s Place, Inc.* | 208 | 13,096 | ||||||
Cooper-Standard Holdings, Inc.* | 251 | 3,193 | ||||||
Designer Brands, Inc., Class A* | 908 | 11,849 | ||||||
Dine Brands Global, Inc. | 258 | 21,631 | ||||||
Ethan Allen Interiors, Inc. | 356 | 9,277 | ||||||
Fiesta Restaurant Group, Inc.* | 283 | 2,850 | ||||||
Fossil Group, Inc.* | 685 | 9,261 | ||||||
Genesco, Inc.* | 212 | 13,600 | ||||||
Gentherm, Inc.* | 506 | 42,929 | ||||||
G-III Apparel Group Ltd.* | 655 | 18,170 | ||||||
Group 1 Automotive, Inc. | 275 | 50,031 | ||||||
Guess?, Inc. (a) | 609 | 13,337 | ||||||
Hibbett, Inc. (a) | 235 | 10,594 | ||||||
Installed Building Products, Inc. | 360 | 34,812 | ||||||
iRobot Corp.* | 407 | 25,299 | ||||||
Kontoor Brands, Inc. | 731 | 36,214 | ||||||
La-Z-Boy, Inc. | 666 | 19,434 | ||||||
LCI Industries | 383 | 47,691 | ||||||
MarineMax, Inc.* | 321 | 14,689 | ||||||
MDC Holdings, Inc. | 862 | 38,221 | ||||||
Meritage Homes Corp.* | 564 | 55,599 | ||||||
ODP Corp.* | 688 | 30,272 | ||||||
Oxford Industries, Inc. | 237 | 20,948 | ||||||
Perdoceo Education Corp.* | 1,101 | 11,527 | ||||||
Red Robin Gourmet Burgers, Inc.* | 218 | 3,826 | ||||||
Rent-A-Center, Inc. | 928 | 26,364 | ||||||
Ruth’s Hospitality Group, Inc. | 481 | 11,934 | ||||||
Sally Beauty Holdings, Inc.* | 1,741 | 30,084 | ||||||
Shake Shack, Inc., Class A* | 600 | 44,832 |
Number | Value | |||||||
Consumer Discretionary (Continued) | ||||||||
Shoe Carnival, Inc. | 273 | $ | 7,961 | |||||
Signet Jewelers Ltd. | 802 | 56,541 | ||||||
Sleep Number Corp.* | 349 | 22,929 | ||||||
Standard Motor Products, Inc. | 281 | 12,283 | ||||||
Steven Madden Ltd. | 1,160 | 49,486 | ||||||
Sturm Ruger & Co., Inc. | 266 | 19,261 | ||||||
Tupperware Brands Corp.* | 724 | 13,199 | ||||||
Unifi, Inc.* | 198 | 3,716 | ||||||
Universal Electronics, Inc.* | 193 | 6,413 | ||||||
Vera Bradley, Inc.* | 394 | 2,979 | ||||||
Vista Outdoor, Inc.* | 856 | 31,201 | ||||||
Winnebago Industries, Inc. (a) | 514 | 32,932 | ||||||
Wolverine World Wide, Inc. | 1,236 | 28,465 | ||||||
|
| |||||||
(Cost $1,452,712) | 1,298,826 | |||||||
|
| |||||||
Consumer Staples — 4.4% | ||||||||
Andersons, Inc. | 468 | 21,341 | ||||||
B&G Foods, Inc. (a) | 969 | 28,682 | ||||||
Calavo Growers, Inc. | 263 | 11,228 | ||||||
Cal-Maine Foods, Inc. | 577 | 25,544 | ||||||
Celsius Holdings, Inc.* | 585 | 37,376 | ||||||
Chefs’ Warehouse, Inc.* | 507 | 16,655 | ||||||
Coca-Cola Consolidated, Inc. | 70 | 34,785 | ||||||
Edgewell Personal Care Co. | 829 | 29,579 | ||||||
elf Beauty, Inc.* | 738 | 19,505 | ||||||
Fresh Del Monte Produce, Inc. | 488 | 12,629 | ||||||
J & J Snack Foods Corp. | 227 | 37,164 | ||||||
John B Sanfilippo & Son, Inc. | 135 | 10,735 | ||||||
Medifast, Inc. | 178 | 33,108 | ||||||
MGP Ingredients, Inc. | 184 | 14,648 | ||||||
Seneca Foods Corp., Class A* | 102 | 5,075 | ||||||
Simply Good Foods Co.* | 1,284 | 50,885 | ||||||
SpartanNash Co. | 543 | 15,280 | ||||||
United Natural Foods, Inc.* | 844 | 33,954 | ||||||
USANA Health Sciences, Inc.* | 177 | 15,578 | ||||||
|
| |||||||
(Cost $428,161) | 453,751 | |||||||
|
| |||||||
Energy — 4.4% | ||||||||
Callon Petroleum Co.* (a) | 727 | 40,974 | ||||||
Core Laboratories NV | 709 | 19,540 | ||||||
Helix Energy Solutions Group, Inc.* | 2,139 | 8,663 | ||||||
Helmerich & Payne, Inc. | 1,640 | 59,417 | ||||||
Laredo Petroleum, Inc.* (a) | 213 | 16,307 | ||||||
Par Pacific Holdings, Inc.* | 681 | 9,262 | ||||||
PBF Energy, Inc., Class A* | 1,436 | 23,866 | ||||||
Range Resources Corp.* | 3,783 | 86,820 | ||||||
Renewable Energy Group, Inc.* | 756 | 46,494 | ||||||
SM Energy Co. | 1,840 | 65,339 | ||||||
Southwestern Energy Co.* (a) | 15,363 | 76,661 | ||||||
|
| |||||||
(Cost $333,337) | 453,343 | |||||||
|
| |||||||
Financials — 18.5% | ||||||||
Ambac Financial Group, Inc.* | 708 | 9,084 | ||||||
Ameris Bancorp | 1,008 | 49,896 | ||||||
AMERISAFE, Inc. | 288 | 13,565 | ||||||
Assured Guaranty Ltd. | 1,064 | 65,936 | ||||||
Banc of California, Inc. | 813 | 15,975 | ||||||
BankUnited, Inc. | 1,357 | 59,979 |
See Notes to Financial Statements. | 54 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P SmallCap 600 ESG ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Financials (Continued) | ||||||||
Banner Corp. | 520 | $ | 32,037 | |||||
Berkshire Hills Bancorp, Inc. | 736 | 22,890 | ||||||
Blucora, Inc.* | 762 | 15,164 | ||||||
Brightsphere Investment Group, Inc. | 535 | 12,770 | ||||||
Central Pacific Financial Corp. | 432 | 12,610 | ||||||
City Holding Co. | 234 | 18,643 | ||||||
Columbia Banking System, Inc. | 1,192 | 43,663 | ||||||
Community Bank System, Inc. | 818 | 59,665 | ||||||
Customers Bancorp, Inc.* | 456 | 28,067 | ||||||
Donnelley Financial Solutions, Inc.* | 441 | 14,156 | ||||||
Eagle Bancorp, Inc. | 477 | 28,582 | ||||||
eHealth, Inc.* | 353 | 5,486 | ||||||
Employers Holdings, Inc. | 421 | 16,360 | ||||||
Encore Capital Group, Inc.* | 377 | 24,878 | ||||||
Enova International, Inc.* | 562 | 22,913 | ||||||
First BanCorp | 3,113 | 43,956 | ||||||
First Financial Bancorp | 1,426 | 35,051 | ||||||
First Hawaiian, Inc. | 1,948 | 56,628 | ||||||
Franklin BSP Realty Trust, Inc. REIT | 656 | 8,659 | ||||||
Granite Point Mortgage Trust, Inc. REIT | 855 | 9,593 | ||||||
Green Dot Corp., Class A* | 820 | 23,493 | ||||||
Greenhill & Co., Inc. | 232 | 4,102 | ||||||
Hanmi Financial Corp. | 468 | 12,224 | ||||||
Heritage Financial Corp. | 546 | 14,316 | ||||||
Hilltop Holdings, Inc. | 921 | 28,477 | ||||||
HomeStreet, Inc. | 307 | 15,798 | ||||||
Hope Bancorp, Inc. | 1,801 | 30,545 | ||||||
Horace Mann Educators Corp. | 640 | 26,618 | ||||||
Independent Bank Corp. | 719 | 61,841 | ||||||
Independent Bank Group, Inc. | 562 | 43,358 | ||||||
Invesco Mortgage Capital, Inc. REIT | 4,644 | 10,124 | ||||||
Investors Bancorp, Inc. | 3,428 | 57,385 | ||||||
KKR Real Estate Finance Trust, Inc. REIT | 659 | 14,149 | ||||||
Meta Financial Group, Inc. | 474 | 26,255 | ||||||
National Bank Holdings Corp., Class A | 464 | 20,592 | ||||||
NBT Bancorp, Inc. | 647 | 24,825 | ||||||
New York Mortgage Trust, Inc. REIT | 5,653 | 19,842 | ||||||
NMI Holdings, Inc., Class A* | 1,311 | 30,337 | ||||||
Northfield Bancorp, Inc. | 656 | 10,299 | ||||||
Northwest Bancshares, Inc. | 1,942 | 27,343 | ||||||
OFG Bancorp | 764 | 21,530 | ||||||
Pacific Premier Bancorp, Inc. | 1,435 | 55,549 | ||||||
Palomar Holdings, Inc.* | 363 | 23,388 | ||||||
Park National Corp. | 222 | 29,761 | ||||||
PennyMac Mortgage Investment Trust REIT (a) | 1,448 | 22,589 | ||||||
Piper Sandler Cos. | 211 | 31,230 | ||||||
PRA Group, Inc.* | 658 | 29,367 | ||||||
Preferred Bank | 213 | 16,716 | ||||||
ProAssurance Corp. | 814 | 19,617 | ||||||
Provident Financial Services, Inc. | 1,148 | 27,242 | ||||||
Redwood Trust, Inc. REIT | 1,702 | 17,684 | ||||||
S&T Bancorp, Inc. | 584 | 18,157 | ||||||
Safety Insurance Group, Inc. | 214 | 17,856 | ||||||
Seacoast Banking Corp. of Florida | 894 | 32,765 | ||||||
Simmons First National Corp., Class A | 1,742 | 49,682 | ||||||
Southside Bancshares, Inc. | 496 | 20,678 |
Number | Value | |||||||
Financials (Continued) | ||||||||
Stewart Information Services Corp. | 400 | $ | 27,152 | |||||
Tompkins Financial Corp. | 179 | 14,159 | ||||||
Trupanion, Inc.* (a) | 523 | 46,876 | ||||||
United Community Banks, Inc. | 1,587 | 61,353 | ||||||
United Fire Group, Inc. | 332 | 9,167 | ||||||
Universal Insurance Holdings, Inc. | 398 | 4,601 | ||||||
Veritex Holdings, Inc. | 756 | 30,716 | ||||||
WisdomTree Investments, Inc. (a) | 1,571 | 8,845 | ||||||
WSFS Financial Corp. | 988 | 50,220 | ||||||
|
| |||||||
(Cost $1,827,630) | 1,915,029 | |||||||
|
| |||||||
Health Care — 11.7% | ||||||||
Addus HomeCare Corp.* | 239 | 20,325 | ||||||
Allscripts Healthcare Solutions, Inc.* (a) | 1,839 | 35,787 | ||||||
AMN Healthcare Services, Inc.* | 714 | 75,784 | ||||||
Amphastar Pharmaceuticals, Inc.* | 574 | 15,905 | ||||||
AngioDynamics, Inc.* | 585 | 13,765 | ||||||
Anika Therapeutics, Inc.* | 211 | 6,857 | ||||||
Artivion, Inc.* | 622 | 12,160 | ||||||
Cardiovascular Systems, Inc.* | 602 | 12,678 | ||||||
Coherus Biosciences, Inc.* | 961 | 11,330 | ||||||
Collegium Pharmaceutical, Inc.* | 527 | 10,261 | ||||||
Community Health Systems, Inc.* | 1,854 | 19,485 | ||||||
Computer Programs and Systems, Inc.* | 226 | 6,956 | ||||||
CONMED Corp. | 443 | 64,749 | ||||||
Corcept Therapeutics, Inc.* | 1,415 | 31,540 | ||||||
CorVel Corp.* | 140 | 22,268 | ||||||
Covetrus, Inc.* | 1,592 | 28,210 | ||||||
Cross Country Healthcare, Inc.* | 527 | 11,768 | ||||||
Cutera, Inc.* | 238 | 9,130 | ||||||
Cytokinetics, Inc.* | 1,273 | 44,962 | ||||||
Eagle Pharmaceuticals, Inc.* | 177 | 8,388 | ||||||
Enanta Pharmaceuticals, Inc.* | 273 | 19,225 | ||||||
Endo International PLC* (a) | 3,470 | 10,792 | ||||||
Ensign Group, Inc. | 795 | 66,812 | ||||||
Glaukos Corp.* | 717 | 39,657 | ||||||
Heska Corp.* | 162 | 23,004 | ||||||
Inogen, Inc.* | 304 | 10,607 | ||||||
Merit Medical Systems, Inc.* | 775 | 50,398 | ||||||
Myriad Genetics, Inc.* | 1,228 | 29,939 | ||||||
Natus Medical, Inc.* | 500 | 13,910 | ||||||
NextGen Healthcare, Inc.* | 858 | 16,757 | ||||||
Omnicell, Inc.* | 670 | 86,618 | ||||||
OraSure Technologies, Inc.* | 1,056 | 8,237 | ||||||
Orthofix Medical, Inc.* | 314 | 10,670 | ||||||
Owens & Minor, Inc. | 1,148 | 50,684 | ||||||
Pacira BioSciences, Inc.* (a) | 680 | 45,349 | ||||||
Phibro Animal Health Corp., Class A | 317 | 6,752 | ||||||
Prestige Consumer Healthcare, Inc.* | 764 | 45,481 | ||||||
RadNet, Inc.* | 658 | 16,233 | ||||||
REGENXBIO, Inc.* | 566 | 14,835 | ||||||
Select Medical Holdings Corp. | 1,626 | 37,642 | ||||||
Supernus Pharmaceuticals, Inc.* | 814 | 26,007 | ||||||
Surmodics, Inc.* | 212 | 9,515 | ||||||
Tabula Rasa HealthCare, Inc.* (a) | 352 | 2,006 | ||||||
Tactile Systems Technology, Inc.* | 299 | 6,088 | ||||||
Tivity Health, Inc.* | 688 | 18,769 |
See Notes to Financial Statements. | 55 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P SmallCap 600 ESG ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Health Care (Continued) | ||||||||
US Physical Therapy, Inc. | 201 | $ | 18,486 | |||||
Vanda Pharmaceuticals, Inc.* | 876 | 9,951 | ||||||
Vericel Corp.* | 696 | 28,682 | ||||||
Xencor, Inc.* | 894 | 27,991 | ||||||
|
| |||||||
(Cost $1,263,205) | 1,213,405 | |||||||
|
| |||||||
Industrials — 17.8% | ||||||||
AAR Corp.* | 502 | 22,560 | ||||||
ABM Industries, Inc. | 1,031 | 46,220 | ||||||
AeroVironment, Inc.* | 347 | 24,654 | ||||||
Alamo Group, Inc. | 153 | 21,284 | ||||||
Albany International Corp., Class A | 496 | 43,559 | ||||||
Applied Industrial Technologies, Inc. | 582 | 58,840 | ||||||
ArcBest Corp. | 391 | 36,238 | ||||||
Arcosa, Inc. | 743 | 39,134 | ||||||
Astec Industries, Inc. | 349 | 17,380 | ||||||
Atlas Air Worldwide Holdings, Inc.* | 415 | 32,519 | ||||||
AZZ, Inc. | 365 | 17,969 | ||||||
Barnes Group, Inc. | 697 | 32,376 | ||||||
Boise Cascade Co. | 598 | 47,804 | ||||||
Brady Corp., Class A | 736 | 33,915 | ||||||
Chart Industries, Inc.* | 539 | 77,832 | ||||||
CIRCOR International, Inc.* | 311 | 8,378 | ||||||
Comfort Systems USA, Inc. | 548 | 47,117 | ||||||
CoreCivic, Inc.* | 1,812 | 16,507 | ||||||
Deluxe Corp. | 660 | 20,533 | ||||||
Encore Wire Corp. | 311 | 36,207 | ||||||
Enerpac Tool Group Corp. | 894 | 15,421 | ||||||
EnPro Industries, Inc. | 316 | 34,899 | ||||||
ESCO Technologies, Inc. | 388 | 26,993 | ||||||
Exponent, Inc. | 787 | 74,576 | ||||||
Federal Signal Corp. | 937 | 33,835 | ||||||
Forward Air Corp. | 413 | 42,613 | ||||||
Franklin Electric Co., Inc. | 587 | 49,637 | ||||||
GEO Group, Inc. REIT* | 1,777 | 10,591 | ||||||
GMS, Inc.* | 652 | 35,371 | ||||||
Granite Construction, Inc. | 705 | 21,340 | ||||||
Greenbrier Cos., Inc. | 488 | 21,682 | ||||||
Harsco Corp.* | 1,178 | 14,030 | ||||||
Heartland Express, Inc. | 735 | 10,555 | ||||||
Heidrick & Struggles International, Inc. | 307 | 13,124 | ||||||
Hillenbrand, Inc. | 1,109 | 52,910 | ||||||
HNI Corp. | 648 | 26,367 | ||||||
Hub Group, Inc., Class A* | 521 | 43,972 | ||||||
Interface, Inc. | 927 | 12,097 | ||||||
John Bean Technologies Corp. | 481 | 54,531 | ||||||
Kaman Corp. | 421 | 18,276 | ||||||
Kelly Services, Inc., Class A | 573 | 12,159 | ||||||
Lindsay Corp. | 164 | 21,518 | ||||||
Marten Transport Ltd. | 887 | 15,301 | ||||||
Matson, Inc. | 638 | 70,671 | ||||||
Meritor, Inc.* | 1,082 | 38,530 | ||||||
Mueller Industries, Inc. | 873 | 49,805 | ||||||
MYR Group, Inc.* | 260 | 23,335 | ||||||
National Presto Industries, Inc. | 73 | 5,803 | ||||||
Pitney Bowes, Inc. | 2,573 | 12,814 | ||||||
Powell Industries, Inc. | 139 | 2,938 |
Number | Value | |||||||
Industrials (Continued) | ||||||||
Proto Labs, Inc.* | 411 | $ | 23,111 | |||||
SPX Corp.* | 689 | 34,932 | ||||||
SPX FLOW, Inc. | 637 | 54,712 | ||||||
Standex International Corp. | 183 | 19,385 | ||||||
Tennant Co. | 278 | 21,901 | ||||||
Titan International, Inc.* | 854 | 9,565 | ||||||
Triumph Group, Inc.* | 995 | 24,915 | ||||||
UniFirst Corp. | 232 | 42,050 | ||||||
US Ecology, Inc.* | 474 | 22,487 | ||||||
Veritiv Corp.* | 215 | 23,042 | ||||||
Viad Corp.* | 324 | 11,321 | ||||||
Wabash National Corp. | 727 | 12,388 | ||||||
|
| |||||||
(Cost $1,786,728) | 1,846,529 | |||||||
|
| |||||||
Information Technology — 14.2% | ||||||||
8x8, Inc.* | 1,751 | 22,693 | ||||||
ADTRAN, Inc. | 736 | 15,154 | ||||||
Advanced Energy Industries, Inc. | 575 | 49,364 | ||||||
Agilysys, Inc.* | 297 | 12,483 | ||||||
Badger Meter, Inc. | 446 | 44,337 | ||||||
Benchmark Electronics, Inc. | 538 | 14,063 | ||||||
Bottomline Technologies DE, Inc.* | 579 | 32,795 | ||||||
Cohu, Inc.* | 724 | 22,574 | ||||||
CSG Systems International, Inc. | 492 | 30,366 | ||||||
CTS Corp. | 490 | 18,591 | ||||||
Diodes, Inc.* | 682 | 61,100 | ||||||
Ebix, Inc. | 353 | 10,417 | ||||||
EVERTEC, Inc. | 915 | 36,929 | ||||||
ExlService Holdings, Inc.* | 504 | 60,878 | ||||||
Extreme Networks, Inc.* | 1,935 | 22,233 | ||||||
Fabrinet* | 561 | 56,173 | ||||||
FARO Technologies, Inc.* | 284 | 15,546 | ||||||
FormFactor, Inc.* | 1,192 | 48,264 | ||||||
Ichor Holdings Ltd.* | 441 | 15,536 | ||||||
Insight Enterprises, Inc.* | 529 | 55,016 | ||||||
Itron, Inc.* | 691 | 32,940 | ||||||
Knowles Corp.* | 1,420 | 30,928 | ||||||
Kulicke & Soffa Industries, Inc. | 948 | 49,524 | ||||||
LivePerson, Inc.* | 979 | 19,854 | ||||||
MaxLinear, Inc.* | 1,070 | 65,645 | ||||||
Methode Electronics, Inc. | 570 | 26,015 | ||||||
NETGEAR, Inc.* | 446 | 11,868 | ||||||
OneSpan, Inc.* | 506 | 6,973 | ||||||
Onto Innovation, Inc.* | 745 | 64,226 | ||||||
PDF Solutions, Inc.* | 457 | 12,504 | ||||||
Plantronics, Inc.* | 644 | 18,141 | ||||||
Plexus Corp.* | 433 | 35,277 | ||||||
Progress Software Corp. | 667 | 29,401 | ||||||
Rogers Corp.* | 283 | 77,259 | ||||||
Sanmina Corp.* | 984 | 39,144 | ||||||
ScanSource, Inc.* | 386 | 12,190 | ||||||
SPS Commerce, Inc.* | 544 | 70,638 | ||||||
TTEC Holdings, Inc. | 272 | 21,624 | ||||||
TTM Technologies, Inc.* | 1,556 | 19,559 | ||||||
Unisys Corp.* | 1,006 | 21,498 | ||||||
Veeco Instruments, Inc.* | 777 | 22,199 | ||||||
Viavi Solutions, Inc.* | 3,600 | 59,040 |
See Notes to Financial Statements. | 56 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P SmallCap 600 ESG ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Information Technology (Continued) | ||||||||
Vonage Holdings Corp.* | 3,853 | $ | 78,293 | |||||
|
| |||||||
(Cost $1,454,910) | 1,469,252 | |||||||
|
| |||||||
Materials — 5.9% | ||||||||
AdvanSix, Inc. | 415 | 16,625 | ||||||
Allegheny Technologies, Inc.* | 1,909 | 49,138 | ||||||
American Vanguard Corp. | 438 | 6,601 | ||||||
Balchem Corp. | 489 | 67,648 | ||||||
Carpenter Technology Corp. | 740 | 28,409 | ||||||
Century Aluminum Co.* | 751 | 17,739 | ||||||
Clearwater Paper Corp.* | 254 | 7,323 | ||||||
Ferro Corp.* | 1,275 | 27,706 | ||||||
GCP Applied Technologies, Inc.* | 821 | 25,927 | ||||||
Glatfelter Corp. | 643 | 8,835 | ||||||
Hawkins, Inc. | 285 | 12,899 | ||||||
Haynes International, Inc. | 198 | 7,239 | ||||||
HB Fuller Co. | 798 | 54,559 | ||||||
Innospec, Inc. | 379 | 36,194 | ||||||
Kaiser Aluminum Corp. | 245 | 23,642 | ||||||
Koppers Holdings, Inc.* | 327 | 9,362 | ||||||
Kraton Corp.* | 484 | 22,337 | ||||||
Livent Corp.* | 2,453 | 57,768 | ||||||
Mercer International, Inc. | 620 | 8,289 | ||||||
Neenah, Inc. | 256 | 9,971 | ||||||
Stepan Co. | 325 | 33,676 | ||||||
SunCoke Energy, Inc. | 1,302 | 10,325 | ||||||
TimkenSteel Corp.* | 607 | 10,944 | ||||||
Tredegar Corp. | 429 | 4,938 | ||||||
Trinseo PLC | 582 | 30,241 | ||||||
Warrior Met Coal, Inc. | 789 | 24,853 | ||||||
|
| |||||||
(Cost $574,505) | 613,188 | |||||||
|
| |||||||
Real Estate — 8.2% | ||||||||
Acadia Realty Trust REIT | 1,358 | 29,115 | ||||||
Agree Realty Corp. REIT | 1,059 | 67,935 | ||||||
Alexander & Baldwin, Inc. REIT | 1,113 | 24,965 | ||||||
American Assets Trust, Inc. REIT | 802 | 29,321 | ||||||
Armada Hoffler Properties, Inc. REIT | 910 | 13,359 | ||||||
Brandywine Realty Trust REIT | 2,571 | 34,271 | ||||||
CareTrust REIT, Inc. REIT | 1,488 | 26,040 | ||||||
Centerspace REIT | 213 | 20,020 | ||||||
Chatham Lodging Trust REIT* | 769 | 10,574 | ||||||
Community Healthcare Trust, Inc. REIT | 353 | 14,720 | ||||||
DiamondRock Hospitality Co. REIT* | 3,177 | 30,340 | ||||||
Diversified Healthcare Trust REIT | 3,538 | 10,189 | ||||||
Easterly Government Properties, Inc. REIT | 1,290 | 26,858 | ||||||
Four Corners Property Trust, Inc. REIT | 1,190 | 31,392 | ||||||
Getty Realty Corp. REIT | 592 | 16,310 | ||||||
Hersha Hospitality Trust REIT* | 511 | 4,717 | ||||||
Independence Realty Trust, Inc. REIT | 1,605 | 40,558 | ||||||
iStar, Inc. REIT (a) | 1,045 | 26,250 | ||||||
LTC Properties, Inc. REIT (a) | 606 | 20,501 | ||||||
LXP Industrial Trust REIT | 4,293 | 66,370 | ||||||
Office Properties Income Trust REIT | 712 | 17,836 | ||||||
Realogy Holdings Corp.* | 1,751 | 31,833 | ||||||
Retail Opportunity Investments Corp. REIT | 1,812 | 32,906 |
Number | Value | |||||||
Real Estate (Continued) | ||||||||
RPT Realty REIT | 1,252 | $ | 16,213 | |||||
SITE Centers Corp. REIT | 2,739 | 42,591 | ||||||
Summit Hotel Properties, Inc. REIT* | 1,657 | 16,388 | ||||||
Tanger Factory Outlet Centers, Inc. REIT | 1,604 | 26,755 | ||||||
Uniti Group, Inc. REIT | 3,599 | 46,679 | ||||||
Washington Real Estate Investment Trust REIT | 1,302 | 30,415 | ||||||
Whitestone REIT | 703 | 8,281 | ||||||
Xenia Hotels & Resorts, Inc. REIT* | 1,738 | 32,223 | ||||||
|
| |||||||
(Cost $792,926) | 845,925 | |||||||
|
| |||||||
Utilities — 1.0% | ||||||||
California Water Service Group | 801 | 45,601 | ||||||
South Jersey Industries, Inc. | 1,721 | 58,394 | ||||||
|
| |||||||
(Cost $91,181) | 103,995 | |||||||
|
| |||||||
TOTAL COMMON STOCKS | 10,326,760 | |||||||
|
| |||||||
EXCHANGE-TRADED FUNDS — 0.2% | ||||||||
iShares Core S&P Small-Cap ETF | 205 | 22,081 | ||||||
|
| |||||||
SECURITIES LENDING COLLATERAL — 0.6% | ||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (b)(c) | 54,608 | 54,608 | ||||||
|
| |||||||
CASH EQUIVALENTS — 0.0% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (b) | 4,559 | 4,559 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 100.5% (Cost $10,220,183) | $ | 10,408,008 | ||||||
Other assets and liabilities, net — (0.5%) | (50,569 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 10,357,439 | ||||||
|
|
See Notes to Financial Statements. | 57 |
DBX ETF Trust
Schedule of Investments
Xtrackers S&P SmallCap 600 ESG ETF (Continued)
February 28, 2022 (Unaudited)
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2022 is as follows:
Value ($) at 8/31/2021 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2022 | Value ($) at 2/28/2022 | ||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 0.6% |
| |||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (b)(c) |
| |||||||||||||||||||||||||||||||||||
50,397 | 4,211 | (d) | — | — | — | 2 | — | 54,608 | 54,608 | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.0% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (b) |
| |||||||||||||||||||||||||||||||||||
12,273 | 280,898 | (288,612 | ) | — | — | 1 | — | 4,559 | 4,559 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
62,670 | 285,109 | (288,612 | ) | — | — | 3 | — | 59,167 | 59,167 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* | Non-income producing security. |
(a) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2022 amounted to $442,397, which is 4.3% of net assets. |
(b) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
(c) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund held non-cash U.S. Treasury securities collateral having a value of $393,469. |
(d) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2022. |
REIT: | Real Estate Investment Trust |
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2022 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
Assets | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stocks (e) | $ | 10,326,760 | $ | — | $ | — | $ | 10,326,760 | ||||||||
Exchange-Traded Funds | 22,081 | — | — | 22,081 | ||||||||||||
Short-Term Investments (e) | 59,167 | — | — | 59,167 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 10,408,008 | $ | — | $ | — | $ | 10,408,008 | ||||||||
|
|
|
|
|
|
|
|
(e) | See Schedule of Investments for additional detailed categorizations. |
See Notes to Financial Statements. | 58 |
This Page is Intentionally Left Blank
59
DBX ETF Trust
February 28, 2022 (Unaudited)
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | Xtrackers MSCI EAFE ESG Leaders Equity ETF | Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | Xtrackers MSCI USA ESG Leaders Equity ETF | |||||||||||||
Assets | ||||||||||||||||
Investment in non-affiliated securities at value | $ | 729,859,098 | $ | 27,342,305 | $ | 23,344,006 | $ | 3,171,321,268 | ||||||||
Investment in DWS Government Money Market Series | 406,136 | — | — | 860,638 | ||||||||||||
Investment in DWS Government & Agency Securities Portfolio* | 1,966,294 | 70,402 | 161,048 | 865,404 | ||||||||||||
Foreign currency at value | 57,876 | 49,813 | 37,707 | — | ||||||||||||
Due from broker | — | — | 4,172 | — | ||||||||||||
Deposit with broker for futures contracts | 30,586 | 4,523 | 2,549 | 206,040 | ||||||||||||
Receivables: | ||||||||||||||||
Investment securities sold | 931,054 | 304,857 | 143,108 | 10,687,247 | ||||||||||||
Variation margin on futures contracts | — | — | — | 9,253 | ||||||||||||
Dividends | 796,853 | 46,153 | 27,249 | 4,251,058 | ||||||||||||
Interest | 7 | — | 9 | 56 | ||||||||||||
Securities lending income | 2,867 | 29 | 95 | 3,294 | ||||||||||||
Foreign tax reclaim | 7,290 | 17,116 | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total assets | $ | 734,058,061 | $ | 27,835,198 | $ | 23,719,943 | $ | 3,188,204,258 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liabilities | ||||||||||||||||
Due to custodian | $ | — | $ | 18,713 | $ | 9,376 | $ | — | ||||||||
Payable upon return of securities loaned | 1,966,294 | 70,402 | 161,048 | 865,404 | ||||||||||||
Payables: | ||||||||||||||||
Investment securities purchased | 861,324 | 329,467 | 170,448 | 7,364,248 | ||||||||||||
Capital shares | — | — | — | 4,031,504 | ||||||||||||
Investment advisory fees | 87,340 | 3,033 | 3,788 | 222,665 | ||||||||||||
Variation margin on futures contracts | 8,568 | 239 | 714 | — | ||||||||||||
Deferred foreign tax payable | 1,014 | — | 41,777 | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total liabilities | 2,924,540 | 421,854 | 387,151 | 12,483,821 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Assets, at value | $ | 731,133,521 | $ | 27,413,344 | $ | 23,332,792 | $ | 3,175,720,437 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net Assets Consist of | ||||||||||||||||
Paid-in capital | $ | 782,334,626 | $ | 26,617,450 | $ | 24,058,459 | $ | 2,021,422,816 | ||||||||
Distributable earnings (loss) | (51,201,105 | ) | 795,894 | (725,667 | ) | 1,154,297,621 | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Assets, at value | $ | 731,133,521 | $ | 27,413,344 | $ | 23,332,792 | $ | 3,175,720,437 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Number of Common Shares outstanding | 23,300,001 | 950,001 | 800,001 | 78,950,001 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Asset Value | $ | 31.38 | $ | 28.86 | $ | 29.17 | $ | 40.22 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Investment in non-affiliated securities at cost | $ | 775,061,240 | $ | 26,044,265 | $ | 23,422,524 | $ | 2,441,325,772 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Value of securities loaned | $ | 5,743,295 | $ | 234,309 | $ | 235,383 | $ | 863,808 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Investment in DWS Government Money Market Series at cost | $ | 406,136 | $ | — | $ | — | $ | 860,638 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Investment in DWS Government & Agency Securities Portfolio at cost* | $ | 1,966,294 | $ | 70,402 | $ | 161,048 | $ | 865,404 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Non-cash collateral for securities on loan | $ | 4,447,594 | $ | 177,822 | $ | 125,469 | $ | 45,408 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Foreign currency at cost | $ | 58,658 | $ | 50,739 | $ | 47,200 | $ | — | ||||||||
|
|
|
|
|
|
|
|
* | Represents collateral on securities loaned. |
See Notes to Financial Statements. | 60 |
DBX ETF Trust
Statements of Assets and Liabilities (Continued)
February 28, 2022 (Unaudited)
Xtrackers S&P 500 ESG ETF | Xtrackers S&P MidCap 400 ESG ETF | Xtrackers S&P SmallCap 600 ESG ETF | ||||||||||
Assets | ||||||||||||
Investment in non-affiliated securities at value | $ | 867,764,572 | $ | 10,641,233 | $ | 10,348,841 | ||||||
Investment in DWS Government Money Market Series | 451,432 | 9,786 | 4,559 | |||||||||
Investment in DWS Government & Agency Securities Portfolio* | — | — | 54,608 | |||||||||
Deposit with broker for futures contracts | 67,800 | — | — | |||||||||
Receivables: | ||||||||||||
Investment securities sold | 3,943,760 | — | — | |||||||||
Dividends | 1,036,444 | 7,975 | 5,155 | |||||||||
Interest | 22 | — | — | |||||||||
Securities lending income | 910 | 29 | 59 | |||||||||
|
|
|
|
|
| |||||||
Total assets | $ | 873,264,940 | $ | 10,659,023 | $ | 10,413,222 | ||||||
|
|
|
|
|
| |||||||
Liabilities | ||||||||||||
Due to custodian | $ | 865 | $ | — | $ | — | ||||||
Payable upon return of securities loaned | — | — | 54,608 | |||||||||
Payables: | ||||||||||||
Investment securities purchased | — | 8,928 | — | |||||||||
Capital shares | 3,960,992 | — | — | |||||||||
Investment advisory fees | 67,004 | 1,217 | 1,175 | |||||||||
Variation margin on futures contracts | 3,840 | — | — | |||||||||
|
|
|
|
|
| |||||||
Total liabilities | 4,032,701 | 10,145 | 55,783 | |||||||||
|
|
|
|
|
| |||||||
Net Assets, at value | $ | 869,232,239 | $ | 10,648,878 | $ | 10,357,439 | ||||||
|
|
|
|
|
| |||||||
Net Assets Consist of | ||||||||||||
Paid-in capital | $ | 734,715,049 | $ | 10,172,141 | $ | 10,142,260 | ||||||
Distributable earnings (loss) | 134,517,190 | 476,737 | 215,179 | |||||||||
|
|
|
|
|
| |||||||
Net Assets, at value | $ | 869,232,239 | $ | 10,648,878 | $ | 10,357,439 | ||||||
|
|
|
|
|
| |||||||
Number of Common Shares outstanding | 22,000,001 | 400,001 | 400,001 | |||||||||
|
|
|
|
|
| |||||||
Net Asset Value | $ | 39.51 | $ | 26.62 | $ | 25.89 | ||||||
|
|
|
|
|
| |||||||
Investment in non-affiliated securities at cost | $ | 765,450,898 | $ | 10,281,617 | $ | 10,161,016 | ||||||
|
|
|
|
|
| |||||||
Value of securities loaned | $ | 1,251,335 | $ | 123,386 | $ | 442,397 | ||||||
|
|
|
|
|
| |||||||
Investment in DWS Government Money Market Series at cost | $ | 451,432 | $ | 9,786 | $ | 4,559 | ||||||
|
|
|
|
|
| |||||||
Investment in DWS Government & Agency Securities Portfolio at cost* | $ | — | $ | — | $ | 54,608 | ||||||
|
|
|
|
|
| |||||||
Non-cash collateral for securities on loan | $ | 1,295,096 | $ | 135,638 | $ | 393,469 | ||||||
|
|
|
|
|
|
* | Represents collateral on securities loaned. |
See Notes to Financial Statements. | 61 |
DBX ETF Trust
For the Six Months Ended February 28, 2022 (Unaudited)
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | Xtrackers MSCI EAFE ESG Leaders Equity ETF | Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | Xtrackers MSCI USA ESG Leaders Equity ETF | |||||||||||||
Investment Income | ||||||||||||||||
Unaffiliated dividend income* | $ | 3,168,654 | $ | 186,652 | $ | 165,087 | $ | 25,876,108 | ||||||||
Income distributions from affiliated funds | 101 | 2 | 13 | 626 | ||||||||||||
Affiliated securities lending income | 146 | 7 | 5 | 45 | ||||||||||||
Unaffiliated non-cash dividend income | 463,823 | 42,589 | 58,240 | — | ||||||||||||
Unaffiliated securities lending income, net of borrower rebates | 24,462 | 4,334 | 752 | 24,681 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total investment income | 3,657,186 | 233,584 | 224,097 | 25,901,460 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Expenses | ||||||||||||||||
Investment advisory fees | 403,976 | 15,354 | 24,599 | 1,894,997 | ||||||||||||
Other expenses | 57 | 57 | 57 | 172 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total expenses | 404,033 | 15,411 | 24,656 | 1,895,169 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Less fees waived (see note 3): | ||||||||||||||||
Waiver | (65 | ) | (2 | ) | (14 | ) | (190,093 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net expenses | 403,968 | 15,409 | 24,642 | 1,705,076 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net investment income (loss) | 3,253,218 | 218,175 | 199,455 | 24,196,384 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Realized and Unrealized Gain (Loss) | ||||||||||||||||
Net realized gain (loss) from: | ||||||||||||||||
Investments** | (5,466,275 | ) | (151,103 | ) | (182,194 | ) | 226,073 | |||||||||
Investments in affiliates | 297 | — | — | — | ||||||||||||
In-kind redemptions | — | — | — | 452,537,309 | ||||||||||||
Futures contracts | (32,170 | ) | 1,923 | (8,552 | ) | 234,678 | ||||||||||
Foreign currency transactions | 7,789 | (1,640 | ) | 2,512 | — | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized gain (loss) | (5,490,359 | ) | (150,820 | ) | (188,234 | ) | 452,998,060 | |||||||||
|
|
|
|
|
|
|
| |||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||
Investments*** | (61,656,677 | ) | (2,393,629 | ) | (3,201,348 | ) | (554,765,103 | ) | ||||||||
Investments in affiliates | (243 | ) | — | — | — | |||||||||||
Futures contracts | (24,824 | ) | (3,352 | ) | (6,050 | ) | (589,415 | ) | ||||||||
Foreign currency translations | 2,959 | (1,072 | ) | (9,965 | ) | — | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net change in unrealized appreciation (depreciation) | (61,678,785 | ) | (2,398,053 | ) | (3,217,363 | ) | (555,354,518 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized and unrealized gain (loss) on investments, futures and foreign currency transactions | (67,169,144 | ) | (2,548,873 | ) | (3,405,597 | ) | (102,356,458 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | (63,915,926 | ) | $ | (2,330,698 | ) | $ | (3,206,142 | ) | $ | (78,160,074 | ) | ||||
|
|
|
|
|
|
|
| |||||||||
* Unaffiliated foreign tax withheld | $ | 471,677 | $ | 24,905 | $ | 25,494 | $ | — | ||||||||
** Including foreign taxes | $ | 61,355 | $ | — | $ | 3,261 | $ | — | ||||||||
*** Net of change in deferred foreign taxes | $ | (332,653 | ) | $ | — | $ | (26,328 | ) | $ | — |
See Notes to Financial Statements. | 62 |
DBX ETF Trust
Statements of Operations (Continued)
For the Six Months Ended February 28, 2022 (Unaudited)
Xtrackers S&P 500 ESG ETF | Xtrackers S&P MidCap 400 ESG ETF | Xtrackers S&P SmallCap 600 ESG ETF | ||||||||||
Investment Income | ||||||||||||
Unaffiliated dividend income* | $ | 5,712,169 | $ | 75,157 | $ | 69,807 | ||||||
Income distributions from affiliated funds | 206 | 1 | 1 | |||||||||
Affiliated securities lending income | 3 | — | 2 | |||||||||
Unaffiliated securities lending income, net of borrower rebates | 7,712 | 270 | 800 | |||||||||
|
|
|
|
|
| |||||||
Total investment income | 5,720,090 | 75,428 | 70,610 | |||||||||
|
|
|
|
|
| |||||||
Expenses | ||||||||||||
Investment advisory fees | 446,579 | 8,118 | 7,935 | |||||||||
Other expenses | 57 | 44 | 44 | |||||||||
|
|
|
|
|
| |||||||
Total expenses | 446,636 | 8,162 | 7,979 | |||||||||
|
|
|
|
|
| |||||||
Less fees waived (see note 3): | ||||||||||||
Waiver | (40,789 | ) | (1 | ) | (1 | ) | ||||||
|
|
|
|
|
| |||||||
Net expenses | 405,847 | 8,161 | 7,978 | |||||||||
|
|
|
|
|
| |||||||
Net investment income (loss) | 5,314,243 | 67,267 | 62,632 | |||||||||
|
|
|
|
|
| |||||||
Realized and Unrealized Gain (Loss) | ||||||||||||
Net realized gain (loss) from: | ||||||||||||
Investments | (96,974 | ) | 119,579 | 56,700 | ||||||||
In-kind redemptions | 33,170,777 | — | — | |||||||||
Futures contracts | 71,895 | — | — | |||||||||
|
|
|
|
|
| |||||||
Net realized gain (loss) | 33,145,698 | 119,579 | 56,700 | |||||||||
|
|
|
|
|
| |||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||
Investments | (44,259,945 | ) | (423,747 | ) | (297,892 | ) | ||||||
Futures contracts | (108,005 | ) | — | — | ||||||||
|
|
|
|
|
| |||||||
Net change in unrealized appreciation (depreciation) | (44,367,950 | ) | (423,747 | ) | (297,892 | ) | ||||||
|
|
|
|
|
| |||||||
Net realized and unrealized gain (loss) on investments and futures | (11,222,252 | ) | (304,168 | ) | (241,192 | ) | ||||||
|
|
|
|
|
| |||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | (5,908,009 | ) | $ | (236,901 | ) | $ | (178,560 | ) | |||
|
|
|
|
|
| |||||||
* Unaffiliated foreign tax withheld | $ | — | $ | — | $ | 101 |
See Notes to Financial Statements. | 63 |
DBX ETF Trust
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | Xtrackers MSCI EAFE ESG Leaders Equity ETF | |||||||||||||||
For the Six Months Ended February 28, 2022 (Unaudited) | Year Ended August 31, 2021 | For the Six Months Ended February 28, 2022 (Unaudited) | Year Ended August 31, 2021 | |||||||||||||
Increase (Decrease) in Net Assets from Operations | ||||||||||||||||
Net investment income (loss) | $ | 3,253,218 | $ | 297,064 | $ | 218,175 | $ | 408,101 | ||||||||
Net realized gain (loss) | (5,490,359 | ) | 1,511,757 | (150,820 | ) | 264,176 | ||||||||||
Net change in net unrealized appreciation (depreciation) | (61,678,785 | ) | 15,562,693 | (2,398,053 | ) | 2,955,505 | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from operations | (63,915,926 | ) | 17,371,514 | (2,330,698 | ) | 3,627,782 | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Distributions to Shareholders | (3,512,080 | ) | (192,472 | ) | (252,337 | ) | (404,392 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Fund Shares Transactions | ||||||||||||||||
Proceeds from shares sold | 302,459,423 | 475,859,618 | 10,920,293 | 5,739,352 | ||||||||||||
Value of shares redeemed | — | (5,307,482 | ) | — | (1,567,175 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from fund share transactions | 302,459,423 | 470,552,136 | 10,920,293 | 4,172,177 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total net increase (decrease) in Net Assets | 235,031,417 | 487,731,178 | 8,337,258 | 7,395,567 | ||||||||||||
Net Assets | ||||||||||||||||
Beginning of period | 496,102,104 | 8,370,926 | 19,076,086 | 11,680,519 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
End of period | $ | 731,133,521 | $ | 496,102,104 | $ | 27,413,344 | $ | 19,076,086 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Changes in Shares Outstanding | ||||||||||||||||
Shares outstanding, beginning of period | 14,300,001 | 300,001 | 600,001 | 450,001 | ||||||||||||
Shares sold | 9,000,000 | 14,150,000 | 350,000 | 200,000 | ||||||||||||
Shares redeemed | — | (150,000 | ) | — | (50,000 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Shares outstanding, end of period | 23,300,001 | 14,300,001 | 950,001 | 600,001 | ||||||||||||
|
|
|
|
|
|
|
|
See Notes to Financial Statements. | 64 |
DBX ETF Trust
Statements of Changes in Net Assets (Continued)
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | Xtrackers MSCI USA ESG Leaders Equity ETF | |||||||||||||||
For the Six Months Ended February 28, 2022 (Unaudited) | Year Ended August 31, 2021 | For the Six Months Ended February 28, 2022 (Unaudited) | Year Ended August 31, 2021 | |||||||||||||
Increase (Decrease) in Net Assets from Operations | ||||||||||||||||
Net investment income (loss) | $ | 199,455 | $ | 200,440 | $ | 24,196,384 | $ | 44,760,180 | ||||||||
Net realized gain (loss) | (188,235 | ) | (263,400 | ) | 452,998,060 | 79,672,605 | ||||||||||
Net change in net unrealized appreciation (depreciation) | (3,217,362 | ) | 1,853,650 | (555,354,518 | ) | 828,704,550 | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from operations | (3,206,142 | ) | 1,790,690 | (78,160,074 | ) | 953,137,335 | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Distributions to Shareholders | (312,680 | ) | (82,138 | ) | (25,259,204 | ) | (44,278,620 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Fund Shares Transactions | ||||||||||||||||
Proceeds from shares sold | 1,648,274 | 14,924,326 | 391,933,747 | 610,533,251 | ||||||||||||
Value of shares redeemed | — | — | (1,002,196,498 | ) | (296,434,378 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from fund share transactions | 1,648,274 | 14,924,326 | (610,262,751 | ) | 314,098,873 | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Total net increase (decrease) in Net Assets | (1,870,548 | ) | 16,632,878 | (713,682,029 | ) | 1,222,957,588 | ||||||||||
Net Assets | ||||||||||||||||
Beginning of period | 25,203,340 | 8,570,462 | 3,889,402,466 | 2,666,444,878 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
End of period | $ | 23,332,792 | $ | 25,203,340 | $ | 3,175,720,437 | $ | 3,889,402,466 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Changes in Shares Outstanding | ||||||||||||||||
Shares outstanding, beginning of period | 750,001 | 300,001 | 92,850,001 | 83,750,001 | ||||||||||||
Shares sold | 50,000 | 450,000 | 9,050,000 | 17,200,000 | ||||||||||||
Shares redeemed | — | — | (22,950,000 | ) | (8,100,000 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Shares outstanding, end of period | 800,001 | 750,001 | 78,950,001 | 92,850,001 | ||||||||||||
|
|
|
|
|
|
|
|
See Notes to Financial Statements. | 65 |
DBX ETF Trust
Statements of Changes in Net Assets (Continued)
Xtrackers S&P 500 ESG ETF | Xtrackers S&P MidCap 400 ESG ETF | |||||||||||||||
For the Six Months Ended February 28, 2022 (Unaudited) | Year Ended August 31, 2021 | For the Six Months Ended February 28, 2022 (Unaudited) | For the Period February 24, 2021(1) to August 31, 2021 (Unaudited) | |||||||||||||
Increase (Decrease) in Net Assets from Operations | ||||||||||||||||
Net investment income (loss) | $ | 5,314,243 | $ | 6,793,362 | $ | 67,267 | $ | 54,903 | ||||||||
Net realized gain (loss) | 33,145,698 | 22,972,189 | 119,579 | 132,093 | ||||||||||||
Net change in net unrealized appreciation (depreciation) | (44,367,950 | ) | 109,454,795 | (423,747 | ) | 783,363 | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from operations | (5,908,009 | ) | 139,220,346 | (236,901 | ) | 970,359 | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Distributions to Shareholders | (5,201,999 | ) | (5,646,092 | ) | (70,976 | ) | (33,536 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Fund Shares Transactions | ||||||||||||||||
Proceeds from shares sold | 220,084,898 | 428,551,169 | — | 11,371,328 | ||||||||||||
Value of shares redeemed | (84,494,785 | ) | (87,808,140 | ) | — | (1,351,421 | ) | |||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from fund share transactions | 135,590,113 | 340,743,029 | — | 10,019,907 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total net increase (decrease) in Net Assets | 124,480,105 | 474,317,283 | (307,877 | ) | 10,956,730 | |||||||||||
Net Assets | ||||||||||||||||
Beginning of period | 744,752,134 | 270,434,851 | 10,956,755 | 25 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
End of period | $ | 869,232,239 | $ | 744,752,134 | $ | 10,648,878 | $ | 10,956,755 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Changes in Shares Outstanding | ||||||||||||||||
Shares outstanding, beginning of period | 18,650,001 | 8,700,001 | 400,001 | 1 | ||||||||||||
Shares sold | 5,400,000 | 12,450,000 | — | 450,000 | ||||||||||||
Shares redeemed | (2,050,000 | ) | (2,500,000 | ) | — | (50,000 | ) | |||||||||
|
|
|
|
|
|
|
| |||||||||
Shares outstanding, end of period | 22,000,001 | 18,650,001 | 400,001 | 400,001 | ||||||||||||
|
|
|
|
|
|
|
|
(1) | Commencement of Operations. |
See Notes to Financial Statements. | 66 |
DBX ETF Trust
Statements of Changes in Net Assets (Continued)
Xtrackers S&P SmallCap 600 ESG ETF | ||||||||
For the Six Months Ended February 28, 2022 (Unaudited) | For the Period February 24, 2021(1) to August 31, 2021 (Unaudited) | |||||||
Increase (Decrease) in Net Assets from Operations | ||||||||
Net investment income (loss) | $ | 62,632 | $ | 65,069 | ||||
Net realized gain (loss) | 56,700 | 128,496 | ||||||
Net change in net unrealized appreciation (depreciation) | (297,892 | ) | 485,717 | |||||
|
|
|
| |||||
Net increase (decrease) in net assets resulting from operations | (178,560 | ) | 679,282 | |||||
|
|
|
| |||||
Distributions to Shareholders | (134,708 | ) | (27,800 | ) | ||||
|
|
|
| |||||
Fund Shares Transactions | ||||||||
Proceeds from shares sold | — | 11,335,683 | ||||||
Value of shares redeemed | — | (1,316,483 | ) | |||||
|
|
|
| |||||
Net increase (decrease) in net assets resulting from fund share transactions | — | 10,019,200 | ||||||
|
|
|
| |||||
Total net increase (decrease) in Net Assets | (313,268 | ) | 10,670,682 | |||||
Net Assets | ||||||||
Beginning of period | 10,670,707 | 25 | ||||||
|
|
|
| |||||
End of period | $ | 10,357,439 | $ | 10,670,707 | ||||
|
|
|
| |||||
Changes in Shares Outstanding | ||||||||
Shares outstanding, beginning of period | 400,001 | 1 | ||||||
Shares sold | — | 450,000 | ||||||
Shares redeemed | — | (50,000 | ) | |||||
|
|
|
| |||||
Shares outstanding, end of period | 400,001 | 400,001 | ||||||
|
|
|
|
(1) | Commencement of Operations. |
See Notes to Financial Statements. | 67 |
DBX ETF Trust
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF Selected Per Share Data | For the Six Months Ended 2/28/2022 (Unaudited) | Years Ended August 31, | Period Ended 8/31/2019(a) | |||||||||||||
2021 | 2020 | |||||||||||||||
Net Asset Value, beginning of period | $ | 34.69 | $ | 27.90 | $ | 25.42 | $ | 25.00 | ||||||||
|
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|
|
|
|
| |||||||||
Income (loss) from investment operations: | ||||||||||||||||
Net investment income (loss)(b) | 0.20 | 0.57 | 0.68 | 0.60 | ||||||||||||
Net realized and unrealized gain (loss) | (3.26 | ) | 6.86 | 2.53 | 0.27 | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Total from investment operations | (3.06 | ) | 7.43 | 3.21 | 0.87 | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Less distributions from: |
| |||||||||||||||
Net investment income | (0.25 | ) | (0.64 | ) | (0.73 | ) | (0.45 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total distributions | (0.25 | ) | (0.64 | ) | (0.73 | ) | (0.45 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net Asset Value, end of period | $ | 31.38 | $ | 34.69 | $ | 27.90 | $ | 25.42 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Return (%)(c) | (8.85 | )** | 26.80 | 12.74 | 3.44 | ** | ||||||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||||||
Net Assets, end of period ($ millions) | 731 | 496 | 8 | 8 | ||||||||||||
Ratio of expenses before fee waiver (%) | 0.15 | * | 0.16 | 0.16 | 0.16 | * | ||||||||||
Ratio of expenses after fee waiver (%) | 0.15 | * | 0.16 | 0.16 | 0.16 | * | ||||||||||
Ratio of net investment income (loss) (%) | 1.12 | * | 1.97 | 2.61 | 3.17 | * | ||||||||||
Portfolio turnover rate (%)(d) | 10 | ** | 17 | 13 | 10 | ** | ||||||||||
Xtrackers MSCI EAFE ESG Leaders Equity ETF Selected Per Share Data | For the Six Months Ended 2/28/2022 (Unaudited) | Years Ended August 31, | Period Ended 8/31/2019(e) | |||||||||||||
2021 | 2020 | |||||||||||||||
Net Asset Value, beginning of period | $ | 31.79 | $ | 25.96 | $ | 24.10 | $ | 25.00 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Income (loss) from investment operations: | ||||||||||||||||
Net investment income (loss)(b) | 0.30 | 0.72 | 0.59 | 0.78 | ||||||||||||
Net realized and unrealized gain (loss) | (2.84 | ) | 5.80 | 1.83 | (1.01 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Total from investment operations | (2.54 | ) | 6.52 | 2.42 | (0.23 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Less distributions from: |
| |||||||||||||||
Net investment income | (0.39 | ) | (0.69 | ) | (0.56 | ) | (0.66 | ) | ||||||||
Net realized gains | — | — | — | (0.01 | ) | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Total distributions | (0.39 | ) | (0.69 | ) | (0.56 | ) | (0.67 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net Asset Value, end of period | $ | 28.86 | $ | 31.79 | $ | 25.96 | $ | 24.10 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Return (%)(c) | (8.07 | )** | 25.28 | 10.12 | (0.91 | )** | ||||||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||||||
Net Assets, end of period ($ millions) | 27 | 19 | 12 | 7 | ||||||||||||
Ratio of expenses before fee waiver (%) | 0.14 | * | 0.14 | 0.14 | 0.14 | * | ||||||||||
Ratio of expenses after fee waiver (%) | 0.14 | * | 0.14 | 0.14 | 0.14 | * | ||||||||||
Ratio of net investment income (loss) (%) | 1.73 | * | 2.45 | 2.39 | 3.25 | * | ||||||||||
Portfolio turnover rate (%)(d) | 6 | ** | 22 | 16 | 10 | ** |
(a) | For the period December 6, 2018 (commencement of operations) through August 31, 2019. |
(b) | Based on average shares outstanding during the period. |
(c) | Total Return would have been lower if certain expenses had not been reimbursed by the Advisor. |
(d) | Portfolio turnover rate does not include securities received or delivered from processing creations or redemptions. |
(e) | For the period September 6, 2018 (commencement of operations) through August 31, 2019. |
* | Annualized. |
** | Not Annualized. |
See Notes to Financial Statements. | 68 |
DBX ETF Trust
Financial Highlights (Continued)
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF Selected Per Share Data | For the Six Months Ended 2/28/2022 (Unaudited) | Years Ended August 31, | Period Ended 8/31/2019(a) | |||||||||||||
2021 | 2020 | |||||||||||||||
Net Asset Value, beginning of period | $ | 33.60 | $ | 28.57 | $ | 24.70 | $ | 25.00 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Income (loss) from investment operations: | ||||||||||||||||
Net investment income (loss)(b) | 0.26 | 0.49 | 0.86 | 0.50 | ||||||||||||
Net realized and unrealized gain (loss) | (4.30 | ) | 4.77 | 4.07 | (0.53 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Total from investment operations | (4.04 | ) | 5.26 | 4.93 | (0.03 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Less distributions from: |
| |||||||||||||||
Net investment income | (0.39 | ) | (0.23 | ) | (1.06 | ) | (0.27 | ) | ||||||||
Net realized gains | — | — | (0.00 | )(c) | — | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Total distributions | (0.39 | ) | (0.23 | ) | (1.06 | ) | (0.27 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net Asset Value, end of period | $ | 29.17 | $ | 33.60 | $ | 28.57 | $ | 24.70 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Return (%)(d) | (12.07 | )** | 18.43 | 20.32 | (0.17 | )** | ||||||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||||||
Net Assets, end of period ($ millions) | 23 | 25 | 9 | 7 | ||||||||||||
Ratio of expenses before fee waiver (%) | 0.20 | * | 0.20 | 0.20 | 0.20 | * | ||||||||||
Ratio of expenses after fee waiver (%) | 0.20 | * | 0.20 | 0.20 | 0.20 | * | ||||||||||
Ratio of net investment income (loss) (%) | 1.38 | * | 1.48 | 3.38 | 2.68 | * | ||||||||||
Portfolio turnover rate (%)(e) | 3 | ** | 26 | 17 | 16 | ** | ||||||||||
Xtrackers MSCI USA ESG Leaders Equity ETF Selected Per Share Data | For the Six Months Ended 2/28/2022 (Unaudited) | Years Ended August 31, | Period Ended 8/31/2019(f) | |||||||||||||
2021 | 2020 | |||||||||||||||
Net Asset Value, beginning of period | $ | 41.89 | $ | 31.84 | $ | 26.69 | $ | 25.00 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Income (loss) from investment operations: | ||||||||||||||||
Net investment income (loss)(b) | 0.27 | 0.50 | 0.51 | 0.24 | ||||||||||||
Net realized and unrealized gain (loss) | (1.68 | ) | 10.05 | 5.10 | 1.57 | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Total from investment operations | (1.41 | ) | 10.55 | 5.61 | 1.81 | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Less distributions from: |
| |||||||||||||||
Net investment income | (0.26 | ) | (0.50 | ) | (0.46 | ) | (0.12 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total distributions | (0.26 | ) | (0.50 | ) | (0.46 | ) | (0.12 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net Asset Value, end of period | $ | 40.22 | $ | 41.89 | $ | 31.84 | $ | 26.69 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Return (%)(d) | (3.38 | )** | 33.48 | 21.42 | 7.23 | ** | ||||||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||||||
Net Assets, end of period ($ millions) | 3,176 | 3,889 | 2,666 | 1,341 | ||||||||||||
Ratio of expenses before fee waiver (%) | 0.10 | * | 0.10 | 0.10 | 0.10 | * | ||||||||||
Ratio of expenses after fee waiver (%) | 0.09 | * | 0.09 | 0.09 | 0.10 | * | ||||||||||
Ratio of net investment income (loss) (%) | 1.28 | * | 1.39 | 1.83 | 1.89 | * | ||||||||||
Portfolio turnover rate (%)(e) | 1 | ** | 12 | 9 | 5 | ** |
(a) | For the period December 6, 2018 (commencement of operations) through August 31, 2019. |
(b) | Based on average shares outstanding during the period. |
(c) | Amount represents less than $0.005. |
(d) | Total Return would have been lower if certain expenses had not been reimbursed by the Advisor. |
(e) | Portfolio turnover rate does not include securities received or delivered from processing creations or redemptions. |
(f) | For the period March 7, 2019 (commencement of operations) through August 31, 2019. |
* | Annualized. |
** | Not Annualized. |
See Notes to Financial Statements. | 69 |
DBX ETF Trust
Financial Highlights (Continued)
Xtrackers S&P 500 ESG ETF Selected Per Share Data | For the Six Months Ended 2/28/2022 (Unaudited) | Years Ended August 31, | Period Ended 8/31/2019(a) | |||||||||||||
2021 | 2020 | |||||||||||||||
Net Asset Value, beginning of period | $ | 39.93 | $ | 31.08 | $ | 25.30 | $ | 25.00 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Income (loss) from investment operations: | ||||||||||||||||
Net investment income (loss)(b) | 0.26 | 0.49 | 0.50 | 0.10 | ||||||||||||
Net realized and unrealized gain (loss) | (0.41 | ) | 8.79 | 5.85 | 0.20 | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Total from investment operations | (0.15 | ) | 9.28 | 6.35 | 0.30 | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Less distributions from: |
| |||||||||||||||
Net investment income | (0.27 | ) | (0.43 | ) | (0.57 | ) | — | |||||||||
|
|
|
|
|
|
|
| |||||||||
Total distributions | (0.27 | ) | (0.43 | ) | (0.57 | ) | — | |||||||||
|
|
|
|
|
|
|
| |||||||||
Net Asset Value, end of period | $ | 39.51 | $ | 39.93 | $ | 31.08 | $ | 25.30 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Return (%)(c) | (0.40 | )** | 30.16 | 25.71 | 1.20 | ** | ||||||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||||||
Net Assets, end of period ($ millions) | 869 | 745 | 270 | 11 | ||||||||||||
Ratio of expenses before fee waiver (%) | 0.11 | * | 0.11 | 0.11 | 0.11 | * | ||||||||||
Ratio of expenses after fee waiver (%) | 0.10 | * | 0.10 | 0.11 | 0.11 | * | ||||||||||
Ratio of net investment income (loss) (%) | 1.31 | * | 1.41 | 1.86 | 2.08 | * | ||||||||||
Portfolio turnover rate (%)(d) | 1 | ** | 13 | 11 | 0 | ** | ||||||||||
Xtrackers S&P MidCap 400 ESG ETF Selected Per Share Data | For the Six Months Ended 2/28/2022 (Unaudited) | Period Ended 8/31/2021(e) | ||||||||||||||
Net Asset Value, beginning of period | $ | 27.39 | $ | 25.00 | ||||||||||||
|
|
|
| |||||||||||||
Income (loss) from investment operations: | ||||||||||||||||
Net investment income (loss)(b) | 0.17 | 0.14 | ||||||||||||||
Net realized and unrealized gain (loss) | (0.76 | ) | 2.33 | |||||||||||||
|
|
|
| |||||||||||||
Total from investment operations | (0.59 | ) | 2.47 | |||||||||||||
|
|
|
| |||||||||||||
Less distributions from: |
| |||||||||||||||
Net investment income | (0.18 | ) | (0.08 | ) | ||||||||||||
|
|
|
| |||||||||||||
Total distributions | (0.18 | ) | (0.08 | ) | ||||||||||||
|
|
|
| |||||||||||||
Net Asset Value, end of period | $ | 26.62 | $ | 27.39 | ||||||||||||
|
|
|
| |||||||||||||
Total Return (%)(c) | (2.17 | )** | 9.92 | ** | ||||||||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||||||
Net Assets, end of period ($ millions) | 11 | 11 | ||||||||||||||
Ratio of expenses before fee waiver (%) | 0.15 | * | 0.15 | * | ||||||||||||
Ratio of expenses after fee waiver (%) | 0.15 | * | 0.15 | * | ||||||||||||
Ratio of net investment income (loss) (%) | 1.24 | * | 1.00 | * | ||||||||||||
Portfolio turnover rate (%)(d) | 11 | ** | 27 | ** |
(a) | For the period June 26, 2019 (commencement of operations) through August 31, 2019. |
(b) | Based on average shares outstanding during the period. |
(c) | Total Return would have been lower if certain expenses had not been reimbursed by the Advisor. |
(d) | Portfolio turnover rate does not include securities received or delivered from processing creations or redemptions. |
(e) | For the period February 24, 2021 (commencement of operations) through August 31, 2021. |
* | Annualized. |
** | Not Annualized. |
See Notes to Financial Statements. | 70 |
DBX ETF Trust
Financial Highlights (Continued)
Xtrackers S&P SmallCap 600 ESG ETF Selected Per Share Data | For the Six Months Ended 2/28/2022 (Unaudited) | Period Ended 8/31/2021(a) | ||||||
Net Asset Value, beginning of period | $ | 26.68 | $ | 25.00 | ||||
|
|
|
| |||||
Income (loss) from investment operations: | ||||||||
Net investment income (loss)(b) | 0.16 | 0.16 | ||||||
Net realized and unrealized gain (loss) | (0.61 | ) | 1.59 | |||||
|
|
|
| |||||
Total from investment operations | (0.45 | ) | 1.75 | |||||
|
|
|
| |||||
Less distributions from: |
| |||||||
Net investment income | (0.22 | ) | (0.07 | ) | ||||
Net realized gains | (0.12 | ) | — | |||||
|
|
|
| |||||
Total distributions | (0.34 | ) | (0.07 | ) | ||||
|
|
|
| |||||
Net Asset Value, end of period | $ | 25.89 | $ | 26.68 | ||||
|
|
|
| |||||
Total Return (%)(c) | (1.72 | )** | 7.01 | ** | ||||
Ratios to Average Net Assets and Supplemental Data | ||||||||
Net Assets, end of period ($ millions) | 10 | 11 | ||||||
Ratio of expenses before fee waiver (%) | 0.15 | * | 0.15 | * | ||||
Ratio of expenses after fee waiver (%) | 0.15 | * | 0.15 | * | ||||
Ratio of net investment income (loss) (%) | 1.18 | * | 1.19 | * | ||||
Portfolio turnover rate (%)(d) | 9 | ** | 25 | ** |
(a) | For the period February 24, 2021 (commencement of operations) through August 31, 2021. |
(b) | Based on average shares outstanding during the period. |
(c) | Total Return would have been lower if certain expenses had not been reimbursed by the Advisor. |
(d) | Portfolio turnover rate does not include securities received or delivered from processing creations or redemptions. |
* | Annualized. |
** | Not Annualized. |
See Notes to Financial Statements. | 71 |
DBX ETF Trust
1. Organization
DBX ETF Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “Act”), as an open-end registered management investment company organized as a Delaware statutory trust.
As of February 28, 2022, the Trust consists of thirty-six investment series of exchange-traded funds (“ETFs”) (each a “Fund” and collectively, the “Funds”) in operation and trading. These financial statements report on the Funds listed below:
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF |
Xtrackers MSCI EAFE ESG Leaders Equity ETF |
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF |
Xtrackers MSCI USA ESG Leaders Equity ETF |
Xtrackers S&P 500 ESG ETF |
Xtrackers S&P MidCap 400 ESG ETF |
Xtrackers S&P SmallCap 600 ESG ETF |
DBX Advisors LLC (“DBX” or the “Advisor”), an indirect, wholly-owned subsidiary of DWS Group GmbH & Co. KGaA (“DWS Group”), serves as investment advisor to the Funds and has overall responsibility for the general management and administration of the Funds, subject to the supervision of the Funds’ Board of Trustees (“Board”).
Each Fund offers shares that are listed and traded on the NYSE Arca, Inc. (“NYSE Arca”). Unlike conventional mutual funds, each Fund issues and redeems shares on a continuous basis, at net asset value (“NAV”), only in large specified lots consisting of 50,000 shares, each called a “Creation Unit”, to authorized participants who have entered into agreements with the Funds’ distributor. Shares are not individually redeemable securities of the Funds, and owners of the shares may acquire those shares from the Funds, or tender such shares for redemption to the Funds, in Creation Units only.
The investment objective of each Fund is to track the performance, before fees and expenses, of a particular index (the “Underlying Index”). The underlying indices for the Funds are:
Fund | Underlying Index | |
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | Solactive ISS Emerging Markets Carbon Reduction & Climate Improvers Index NTR | |
Xtrackers MSCI EAFE ESG Leaders Equity ETF | MSCI EAFE ESG Leaders Index | |
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | MSCI Emerging Markets ESG Leaders Index | |
Xtrackers MSCI USA ESG Leaders Equity ETF | MSCI USA ESG Leaders Index | |
Xtrackers S&P 500 ESG ETF | S&P 500 ESG Index | |
Xtrackers S&P MidCap 400 ESG ETF | S&P MidCap 400 ESG Index | |
Xtrackers S&P SmallCap 600 ESG ETF | S&P SmallCap 600 ESG Index |
The Solactive ISS Emerging Markets Carbon Reduction & Climate Improvers Index NTR is comprised of large and mid-capitalization companies in emerging markets countries that meet certain environmental, social and governance (“ESG”) criteria and/or have committed to greenhouse gas emissions reduction targets. The Under-lying Index is then weighted in such a manner seeking to align its constituent companies’ greenhouse gas emissions with the long-term global warming target of the Paris Climate Agreement. Under normal circumstances, the Underlying Index is rebalanced semi-annually in February and August, and thus the Fund updates and rebalances its portfolio in a corresponding fashion.
The MSCI EAFE ESG Leaders Index is a capitalization weighted index that provides exposure to companies with high ESG performance relative to their sector peers. The Underlying Index consists of large- and medium-capitalization companies across developed markets countries, excluding Canada and the United States. The annual review of the Underlying Index takes place in May and it is rebalanced in August, November and February, and thus the Fund updates and rebalances its portfolio in a corresponding fashion.
The MSCI Emerging Markets ESG Leaders Index is a capitalization weighted index that provides exposure to companies with high ESG performance relative to their sector peers. The Underlying Index consists of large- and medium-capitalization companies across emerging markets countries. The annual review of the Underlying Index takes place in May and it is rebalanced in August, November and February, and thus the Fund updates and rebalances its portfolio in a corresponding fashion.
72
DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
MSCI USA ESG Leaders Index is a capitalization weighted index that provides exposure to companies with high ESG performance relative to their sector peers. The Underlying Index consists of large- and medium-capitalization companies in the U.S market. The annual review of the Underlying Index takes place in May and it is rebalanced in August, November and February, and thus the Fund updates and rebalances its portfolio in a corresponding fashion.
S&P 500 ESG Index is a broad-based, market capitalization weighted index that provides exposure to companies with high ESG performance relative to their sector peers, while maintaining similar overall industry group weights as the S&P 500 Index. Under normal circumstances, the Underlying Index is rebalanced annually, effective after the close of the last business day of April. The Fund rebalances its portfolio in accordance with the Underlying Index, and therefore, any changes to the Underlying Index’s rebalance schedule will result in corresponding changes to the Fund’s rebalance schedule.
S&P MidCap 400 ESG Index is a broad-based, market capitalization weighted index that provides exposure to companies with high ESG performance relative to their sector peers, while maintaining similar overall industry group weights as the S&P MidCap 400 Index. Under normal circumstances, the Underlying Index is rebalanced annually, effective after the close of the last business day of April. The Fund rebalances its portfolio in accordance with the Underlying Index, and, therefore, any changes to the Underlying Index’s rebalance schedule will result in corresponding changes to the Fund’s rebalance schedule.
S&P SmallCap 600 ESG is a broad-based, market capitalization weighted index that provides exposure to companies with high ESG performance relative to their sector peers, while maintaining similar overall industry group weights as the S&P SmallCap 600 Index. Under normal circumstances, the Underlying Index is rebalanced annually, effective after the close of the last business day of April. The Fund rebalances its portfolio in accordance with the Underlying Index, and, therefore, any changes to the Underlying Index’s rebalance schedule will result in corresponding changes to the Fund’s rebalance schedule.
Each Fund is entitled to use its respective Underlying Index pursuant to a licensing agreement between the Index Provider and DBX. There is no charge to the Funds in connection with these licensing agreements.
Each Fund, except Xtrackers MSCI EAFE ESG Leaders Equity ETF, Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF and Xtrackers MSCI USA ESG Leaders Equity ETF (effective March 7, 2022), is non-diversified and is not limited by the Act with regard to the percentage of its assets that may be invested in the securities of a single issuer. This means the securities of a particular issuer (or securities of issuers in particular industries) may dominate the Underlying Index of the Fund and, consequently, the Fund’s investment portfolio. This may adversely affect the Fund’s performance or subject the Fund’s shares to greater price volatility than that experienced by more diversified investment companies. Each Fund may change its diversification status over time and then change it back again, without shareholder approval, solely as a result of a change in relative market capitalization or index weighting of one or more constituents of the index each Fund tracks.
Pursuant to the Trust’s organizational documents, the Trust’s officers and trustees are indemnified against certain liabilities that may arise out of the performance of their duties to the Funds. Additionally, in the normal course of business the Trust enters into contracts that contain a variety of representations that provide indemnification for certain liabilities. The Trust’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Funds that have not yet occurred. However, the Trust expects the risk of loss to be remote.
2. Significant Accounting Policies
The financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”), which require management to make certain estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. Each Fund qualifies as an investment company under Topic 946 of Accounting Standards Codification of U.S. GAAP. The following is a summary of significant accounting policies followed by the Funds.
Security Valuation The NAV of each Fund’s shares is calculated each business day as of the close of regular trading on the New York Stock Exchange, generally 4:00 p.m. Eastern Time. NAV per share is calculated by dividing a Fund’s net assets by the number of Fund shares outstanding.
73
DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
Various inputs are used in determining the value of the Funds’ investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, and credit risk). Level 3 includes significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
Equity securities and ETFs are valued at the most recent sale price or official closing price reported on the exchange (U.S. or foreign) or over-the-counter market on which they trade. Securities or ETFs for which no sales are reported are valued at the calculated mean between the most recent bid and asked quotations on the relevant market or, if a mean cannot be determined, at the most recent bid quotation. Equity securities and ETFs are generally categorized as Level 1.
Corporate and sovereign debt securities are valued at prices supplied by independent pricing services approved by the Funds’ Board. Such services may use various pricing techniques which take into account appropriate factors such as yield, quality, coupon rate, maturity, type of issue, trading characteristics and other data, as well as broker quotes. If the pricing services are unable to provide valuations, securities are valued at the mean between the bid and ask quotations or evaluated prices, as applicable, obtained from broker dealers. These securities are generally categorized as Level 2
Investments in open-end investment companies are valued at their NAV each business day and are categorized as Level 1.
Futures contracts are generally valued at the settlement prices established each day on the exchange on which they are traded and are categorized as Level 1.
Securities and other assets for which market quotations are not readily available or for which the above valuation procedures are deemed not to reflect fair value are valued in a manner that is intended to reflect their fair value as determined in accordance with procedures approved by the Board and are generally categorized as Level 3. In accordance with the Funds’ valuation procedures, factors considered in determining value may include, but are not limited to, the type of the security; the size of the holding; the initial cost of the security; the existence of any contractual restrictions on the security’s disposition; the price and extent of public trading in similar securities of the issuer or of comparable companies; quotations or evaluated prices from broker-dealers and/or pricing services; information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities); an analysis of the company’s or issuer’s financial statements; an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold; and with respect to debt securities, the maturity, coupon, creditworthiness, currency denomination and the movement of the market in which the security is normally traded. The value determined under these procedures may differ from published values for the same securities.
Fair value pricing could result in a difference between the prices used to calculate a Fund’s NAV and the prices used by the Fund’s Underlying Index, which in turn could result in a difference between the Fund’s performance and the performance of the Fund’s Underlying Index.
Disclosure about the classification of the fair value measurements is included in a table following the Fund’s Schedule of Investments.
Cash Cash consists of cash held at banks and is on deposit with major financial institutions.
Investment Transactions and Investment Income Investment transactions are recorded as of the date that the securities are purchased or sold (trade date). Realized gains and losses from the sale or disposition of securities are calculated on the identified cost-method. Dividend income is net of any foreign taxes withheld at source. Certain dividends from foreign securities may be recorded subsequent to the ex-dividend date as soon as the fund is informed of such dividends. Interest income is recorded on the accrual basis. Distributions received from foreign domiciled corporations, generally determined to be passive foreign investment companies for tax reporting purposes, are included in dividend income.
Tax Information and Dividends and Distributions to Shareholders It is each Fund’s policy to comply with all requirements of the Internal Revenue Code of 1986, as amended (“the Code”). Each Fund intends to qualify for and to elect treatment as a separate Regulated Investment Company (“RIC”) under Subchapter M of the Code. It is
74
DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
the policy of Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF, Xtrackers MSCI EAFE ESG Leaders Equity ETF and Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF to pay out dividends from its net investment income, if any, to investors semi-annually. It is the policy of Xtrackers MSCI USA ESG Leaders Equity ETF, Xtrackers S&P 500 ESG ETF, Xtrackers S&P MidCap 400 ESG ETF and Xtrackers S&P SmallCap 600 ESG ETF to pay out dividends from its net investment income, if any, to investors quarterly. Taxable net realized gains from investment transactions, reduced by capital loss carryforwards, if any, are declared and distributed to shareholders at least annually. The capital loss carryforward amount, if any, is available to offset future net capital gains. The Funds may occasionally be required to make supplemental distributions at some other time during the year. The Funds reserve the right to declare special distributions if, in their reasonable discretion, such action is necessary or advisable to preserve the status of each Fund as a RIC or to avoid imposition of income or excise taxes on undistributed income. Dividends and distributions to shareholders, if any, are recorded on the ex-dividend date. The amount of dividends and distributions from net investment income and net realized capital gains are determined in accordance with Federal income tax regulations which may differ from U.S. GAAP. These “book/tax” differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified at the end of the year within the components of net assets based on their federal tax treatment; temporary differences do not require reclassification. Dividends and distributions, which exceed earnings and profits for the full year for tax purposes, are reported as a tax return of capital.
In accordance with U.S. GAAP requirements regarding accounting for uncertainties in income taxes, management has analyzed the Funds’ tax positions taken or expected to be taken on foreign, federal and state income tax returns for all open tax years and has concluded that no provision for income tax is required in the Funds’ financial statements.
The Funds recognize interest and penalties, if any, related to uncertain tax positions as income tax expense on the Statements of Operations. For the period ended February 28, 2022, the Funds did not incur any interest or penalties.
At August 31, 2021, for Federal income tax purposes, the Funds have capital loss carryforwards available as shown in the table below, to the extent provided by regulations, to offset future capital gains for an unlimited period. To the extent that these loss carryforwards are used to offset future capital gains, it is probable that the capital gains so offset will not be distributed to shareholders.
Short-Term | Long-Term | Total Amount | ||||||||||
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | $ | 56,337 | $ | 5,254 | $ | 61,591 | ||||||
Xtrackers MSCI EAFE ESG Leaders Equity ETF | 75,738 | 171,787 | 247,525 | |||||||||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | 49,283 | 193,625 | 242,908 | |||||||||
Xtrackers MSCI USA ESG Leaders Equity ETF | 4,036,785 | 21,206,967 | 25,243,752 | |||||||||
Xtrackers S&P 500 ESG ETF | 304,487 | — | 304,487 |
As of August 31, 2021, the aggregate cost of investments for federal income tax purposes, the net unrealized appreciation or (depreciation) and the aggregated gross unrealized appreciation (depreciation) on investments were as follows:
Aggregate Tax Cost | Net Unrealized Appreciation (Depreciation) | Aggregate Gross Unrealized Appreciation | Aggregate Gross Unrealized (Depreciation) | |||||||||||||
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | $ | 484,672,330 | $ | 16,359,227 | $ | 18,027,181 | $ | (1,667,954 | ) | |||||||
Xtrackers MSCI EAFE ESG Leaders Equity ETF | 15,515,051 | 3,556,895 | 3,970,952 | (414,057 | ) | |||||||||||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | 22,326,991 | 2,961,656 | 3,733,486 | (771,830 | ) | |||||||||||
Xtrackers MSCI USA ESG Leaders Equity ETF | 2,613,059,960 | 1,274,642,509 | 1,289,542,739 | (14,900,230 | ) | |||||||||||
Xtrackers S&P 500 ESG ETF | 599,953,403 | 144,040,089 | 147,236,303 | (3,196,214 | ) | |||||||||||
Xtrackers S&P MidCap 400 ESG ETF | 10,189,433 | 762,891 | 1,142,858 | (379,967 | ) | |||||||||||
Xtrackers S&P SmallCap 600 ESG ETF | 10,284,752 | 442,892 | 1,044,269 | (601,377 | ) |
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The tax character of current year distributions will be determined at the end of the current fiscal year.
Foreign Taxes The Funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, capital gains on investments, certain foreign currency transactions or other corporate events. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which the Funds invest. These foreign taxes, if any, are paid by the Funds and are reflected in their Statements of Operations as follows: foreign taxes withheld at source are presented as a reduction of income, foreign taxes on capital gains from sales of investments and foreign currency transactions are included in their respective net realized gain (loss) categories, and deferred foreign taxes on unrealized gains are included in net change in unrealized appreciation (depreciation). Receivables and payables related to foreign taxes as of February 28, 2022, if any, are disclosed in the Funds’ Statements of Assets and Liabilities.
Foreign Currency Translations The books and records of the Funds are maintained in U.S. dollars. Investment securities and other assets and liabilities denominated in a foreign currency are translated into U.S. dollars at the prevailing exchange rates at period end. Purchases and sales of investment securities, income and expenses are translated into U.S. dollars at the prevailing exchange rates on the respective dates of the transactions.
Net realized and unrealized gains and losses on foreign currency transactions represent net gains and losses between trade and settlement dates on securities transactions, the acquisition and disposition of foreign currencies, and the difference between the amount of net investment income accrued and the U.S. dollar amount actually received. The portion of both realized and unrealized gains and losses on investments that results from fluctuations in foreign currency exchange rates is not separately disclosed, but is included with net realized and unrealized gain/appreciation and loss/depreciation on investments.
Securities Lending The Funds may lend securities to certain financial institutions under the terms of their securities lending agreement. During the term of the loans, the Funds continue to receive interest and dividends generated by the securities and to participate in any changes in their market value. The Funds require the borrowers of the securities to maintain collateral with the Funds consisting of cash and/or securities issued or guaranteed by the U.S. Government, its agencies or instrumentalities having a value at least equal to the value of the securities loaned. When the collateral falls below specified amounts, the lending agent will use its best effort to obtain additional collateral on the next business day to meet required amounts under the securities lending agreement. During the period ended February 28, 2022, the Funds invested the cash collateral into a joint trading account in DWS Government & Agency Securities Portfolio, an affiliated money market fund managed by DWS Investment Management Americas, Inc. DWS Investment Management Americas, Inc. receives a management/administration fee (0.06% annualized effective rate as of February 28, 2022) on the cash collateral invested in DWS Government & Agency Securities Portfolio. The Funds receive compensation for lending their securities either in the form of fees or by earning interest on invested cash collateral, net of borrower rebates and fees paid to a lending agent. Either the Fund or the borrower may terminate the loan at any time and the borrower, after notice, is required to return borrowed securities within a standard time period. There may be risks of delay and costs in recovery of securities or even loss of rights in the collateral should the borrower of the securities fail financially. If the Funds are not able to recover securities lent, the Funds may sell the collateral and purchase a replacement investment in the market, incurring the risk that the value of the replacement security is greater than the value of the collateral. The Funds are also subject to all investment risks associated with the reinvestment of any cash collateral received, including, but not limited to, interest rate, credit and liquidity risk associated with such investments.
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As of February 28, 2022, the Funds listed below had securities on loan. The value of the related collateral exceeded the value of the securities loaned at period end.
Remaining Contractual Maturity of the Agreements, as of February 28, 2021 | ||||||||||||||||||||
Securities Lending Transactions | Overnight and Continuous | <30 Days | Between 30 & 90 days | >90 days | Total | |||||||||||||||
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF |
| |||||||||||||||||||
Common Stocks | $ | 1,966,294 | $ | 32,036 | $ | 15,291 | $ | 4,400,267 | $ | 6,413,888 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
| $ | 6,413,888 | |||||||||||||||||
Xtrackers MSCI EAFE ESG Leaders Equity ETF |
| |||||||||||||||||||
Common Stocks | $ | 70,402 | $ | — | $ | — | $ | 177,822 | $ | 248,224 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
| $ | 248,224 | |||||||||||||||||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF |
| |||||||||||||||||||
Common Stocks | $ | 89,948 | $ | 3,464 | $ | 385 | $ | 121,621 | $ | 215,418 | ||||||||||
Exchange-Trade Funds | 71,100 | — | — | — | 71,100 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total Borrowings | $ | 161,048 | $ | 3,464 | $ | 385 | $ | 121,621 | $ | 286,518 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
| $ | 286,518 | |||||||||||||||||
Xtrackers MSCI USA ESG Leaders Equity ETF |
| |||||||||||||||||||
Common Stocks | $ | 865,404 | $ | 1,638 | $ | 182 | $ | 43,588 | $ | 910,812 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
| $ | 910,812 | |||||||||||||||||
Xtrackers S&P 500 ESG ETF |
| |||||||||||||||||||
Common Stocks | $ | — | $ | 20,521 | $ | 39,019 | $ | 1,235,556 | $ | 1,295,096 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
| $ | 1,295,096 | |||||||||||||||||
Xtrackers S&P MidCap 400 ESG ETF |
| |||||||||||||||||||
Common Stocks | $ | — | $ | 20,642 | $ | 796 | $ | 114,200 | $ | 135,638 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
| $ | 135,638 | |||||||||||||||||
Xtrackers S&P SmallCap 600 ESG ETF |
| |||||||||||||||||||
Common Stocks | $ | 54,608 | $ | 1,102 | $ | 122 | $ | 392,245 | $ | 448,077 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
| $ | 448,077 |
Derivatives
Futures Contracts Each Fund may enter into futures contracts. These futures contracts will be used to simulate investment in the respective Underlying Index, to facilitate trading or to reduce transaction costs. Each Fund will enter into futures contracts that are traded on a U.S. or non-U.S. exchange. No Fund will use futures for speculative purposes. Futures contracts provide for the future sale by one party and purchase by another party of a specified amount of a specific instrument or index at a specified future time and at a specified price. For the period ended February 28, 2022, Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF, Xtrackers MSCI EAFE ESG Leaders Equity ETF, Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF, Xtrackers MSCI USA ESG Leaders Equity ETF and Xtrackers S&P 500 ESG ETF utilized futures in order to simulate investment in the Funds’ Underlying Index. To the extent required by law, liquid assets committed to futures contracts will be maintained.
At the time each Fund enters into a futures contract, each Fund deposits and maintains as collateral an initial margin with the broker, as required by the exchange on which the transaction is affected. Pursuant to the contract, each Fund agrees to receive from or pay to the broker an amount of cash equal to the daily fluctuation in the value of the contract. Such receipts or payments are known as variation margin and are recorded by each Fund as unrealized gains or losses. Risks may arise from the potential inability of a counterparty to meet the terms of the contract. The credit/counterparty risk for exchange-traded futures contracts is generally less than
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privately negotiated futures contracts, since the clearinghouse, which is the issuer or counterparty to each exchange-traded future, provides a guarantee of performance. The guarantee is supported by a daily payment system (i.e., margin requirements).
Use of long futures contracts subjects each Fund to risk of loss in excess of the amounts shown on the Statement of Assets and Liabilities, up to the notional value of the futures contracts. Use of short futures contracts subjects each Fund to unlimited risk of loss. Under some circumstances, futures exchanges may establish daily limits on the amount that the price of a futures contract can vary from the previous day’s settlement price, which could effectively prevent liquidation of unfavorable positions.
A summary of the open futures contracts as of February 28, 2022 is included in a table following the Funds’ Schedule of Investments.
The following tables summarize the value of the Funds’ derivative instruments held as of February 28, 2022 and the related location in the accompanying Statement of Assets and Liabilities, presented by primary underlying risk exposure:
Asset Derivatives | Liability Derivatives | |||||||||||||
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF |
| |||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | — | Unrealized depreciation on futures contracts* | $ | 25,280 | ||||||||
Xtrackers MSCI EAFE ESG Leaders Equity ETF |
| |||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | — | Unrealized depreciation on futures contracts* | $ | 3,269 | ||||||||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF |
| |||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | — | Unrealized depreciation on futures contracts* | $ | 1,985 | ||||||||
Xtrackers MSCI USA ESG Leaders Equity ETF |
| |||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | — | Unrealized depreciation on futures contracts* | $ | 293,290 | ||||||||
Xtrackers S&p 500 ESG ETF |
| |||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | — | Unrealized depreciation on futures contracts* | $ | 35,445 |
* | Includes cumulative appreciation or cumulative depreciation of futures contracts as disclosed in the Schedule of Investments. Unsettled variation margin is disclosed separately within the Statement of Assets and Liabilities. |
Additionally, the amount of realized and unrealized gains and losses on derivative instruments recognized in the Funds’ earnings during the period ended February 28, 2022 and the related location in the accompanying Statement of Operations is summarized in the following tables by primary underlying risk exposure:
Net Realized Gain (Loss) from: | ||||
Futures Contracts — Equity Contracts | ||||
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | $ | (32,170 | ) | |
Xtrackers MSCI EAFE ESG Leaders Equity ETF | 1,923 | |||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | (8,552 | ) | ||
Xtrackers MSCI USA ESG Leaders Equity ETF | 234,678 | |||
Xtrackers S&P 500 ESG ETF | 71,895 | |||
Net Change in Unrealized Appreciation (Depreciation) on: | ||||
Futures Contracts — Equity Contracts | ||||
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | $ | (24,824 | ) | |
Xtrackers MSCI EAFE ESG Leaders Equity ETF | (3,352 | ) | ||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | (6,050 | ) | ||
Xtrackers MSCI USA ESG Leaders Equity ETF | (589,415 | ) | ||
Xtrackers S&P 500 ESG ETF | (108,005 | ) |
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Notes to Financial Statements (Unaudited) (Continued)
For the period ended February 28, 2022 the average monthly volume of derivatives was as follows:
Futures Contracts (Contract Value) | ||||
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | $ | 516,133 | ||
Xtrackers MSCI EAFE ESG Leaders Equity ETF | 67,406 | |||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | 98,226 | |||
Xtrackers MSCI USA ESG Leaders Equity ETF | 4,910,911 | |||
Xtrackers S&P 500 ESG ETF | 1,431,883 |
Affiliated Cash Management Vehicles The Funds may invest uninvested cash balances in DWS Government Money Market Series and DWS ESG Liquidity Fund, affiliated money market funds which are managed by DWS Investment Management Americas, Inc. (“DIMA”), also an indirect, wholly owned subsidiary of DWS Group GmbH & Co. KGaA. Each affiliated money market fund is managed in accordance with Rule 2a-7 under the 1940 Act, which governs the quality, maturity, diversity and liquidity of instruments in which a money market fund may invest. DWS Government Money Market Series seeks to maintain a stable NAV, and DWS ESG Liquidity Fund maintains a floating NAV. The Funds indirectly bear their proportionate share of the expenses of each affiliated money market fund in which they invest. The Advisor will waive an amount of the unitary advisory fee payable to the Advisor by the Funds equal to such acquired fund’s fees and expenses on the Funds’ assets invested in the affiliated money market funds.
3. Investment Advisory and Other Agreements
The Advisor has overall responsibility for the general management and administration of the Funds, subject to the supervision of the Funds’ Board of Trustees. Under an investment advisory agreement between the Trust, on behalf of the Funds, and the Advisor (the “Investment Advisory Agreement”), the Advisor is responsible for arranging sub-advisory, transfer agency, custody, fund administration, and all other non-distribution related services for the Funds to operate.
For its investment advisory services to the Funds below, the Advisor was entitled to receive a unitary advisory fee based on each Fund’s average daily net assets, computed and accrued daily and payable monthly, at an annual rate equal to:
Unitary Advisory Fee | ||||
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | 0.15 | % | ||
Xtrackers MSCI EAFE ESG Leaders Equity ETF | 0.14 | % | ||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | 0.20 | % | ||
Xtrackers MSCI USA ESG Leaders Equity ETF | 0.10 | % | ||
Xtrackers S&P 500 ESG ETF | 0.11 | % | ||
Xtrackers S&P MidCap 400 ESG ETF | 0.15 | % | ||
Xtrackers S&P SmallCap 600 ESG ETF | 0.15 | % |
The Advisor for the Xtrackers MSCI USA ESG Leaders Equity ETF has voluntarily elected to waive its fees and/or reimburse Fund expenses to the extent necessary to maintain the Fund’s total annual operating expenses (excluding certain expenses such as extraordinary expenses, taxes, brokerage, interest expense and acquired fund fees and expenses) at 0.09% of the Fund’s average daily net assets. Any voluntary waiver or reimbursement implemented by the Advisor may be eliminated by the Advisor at any time. For the period ended February 28, 2022, the Advisor waived $189,500 of expenses to the Fund.
The Advisor for the Xtrackers S&P 500 ESG ETF has contractually agreed through December 16, 2022 to waive its fees and/or reimburse fund expenses to the extent necessary to prevent the operating expenses of the fund (excluding interest expense, taxes, brokerage expenses, distribution fees or expenses, litigation expenses and other extraordinary expenses) from exceeding 0.10% of the fund’s average daily net assets. This agreement may only be terminated by the Fund’s Board (and may not be terminated by the Advisor) prior to that time. For the period ended February 28, 2022, the Advisor waived $40,598 of expenses to the Fund.
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Notes to Financial Statements (Unaudited) (Continued)
The Advisor for the Funds below has contractually agreed to waive a portion of its unitary advisory fee in an amount equal to the acquired fund’s fees and expenses attributable to the Funds’ investments in affiliated Funds. For the period ended February 28, 2022, the Advisor waived expenses of the Funds as follows:
Expenses Waived | ||||
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | $ | 65 | ||
Xtrackers MSCI EAFE ESG Leaders Equity ETF | 2 | |||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | 14 | |||
Xtrackers MSCI USA ESG Leaders Equity ETF | 593 | |||
Xtrackers S&P 500 ESG ETF | 191 | |||
Xtrackers S&P MidCap 400 ESG ETF | 1 | |||
Xtrackers S&P SmallCap 600 ESG ETF | 1 |
Out of the unitary advisory fee, the Advisor pays substantially all expenses of each Fund, including the cost of transfer agency, custody, fund administration, legal, audit and other services, and expenses of the Independent Trustees. Each Fund is responsible for the payment of interest expense, acquired fund fees and expenses, taxes, brokerage expenses, distribution fees or expenses, if any, litigation expenses and extraordinary expenses.
The Bank of New York Mellon, a wholly-owned subsidiary of The Bank of New York Mellon Corporation, serves as Administrator, Custodian, Accounting Agent, Lending Agent and Transfer Agent for each Fund.
ALPS Distributors, Inc. (the “Distributor”) serves as the distributor of Creation Units for each Fund on an agency basis. The Distributor does not maintain a secondary market in shares of the Funds.
The Board of Trustees is currently comprised of three Independent Trustees. The Advisor paid retainer fees and attendance fees to each Independent Trustee; retainer fees to the Chairman of the Board of Trustees and Chairman of the Audit Committee; and attendance fees to each member of the Audit Committee (which is comprised of all of the Funds’ Independent Trustees).
4. Investment Portfolio Transactions
For the period ended February 28, 2022, the cost of investments purchased and proceeds from sale of investments (excluding in-kind transactions and short-term investments) were as follows:
Purchases | Sales | |||||||
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | $ | 297,324,751 | $ | 52,761,016 | ||||
Xtrackers MSCI EAFE ESG Leaders Equity ETF | 1,429,456 | 1,263,764 | ||||||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | 2,211,783 | 819,760 | ||||||
Xtrackers MSCI USA ESG Leaders Equity ETF | 31,185,857 | 35,313,865 | ||||||
Xtrackers S&P 500 ESG ETF | 6,228,467 | 5,229,288 | ||||||
Xtrackers S&P MidCap 400 ESG ETF | 1,152,723 | 1,144,649 | ||||||
Xtrackers S&P SmallCap 600 ESG ETF | 900,776 | 973,320 |
For the period ended February 28, 2022, the cost of in-kind purchases and proceeds from in-kind sales were as follows:
Purchases | Sales | |||||||
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | $ | 58,777,132 | $ | — | ||||
Xtrackers MSCI EAFE ESG Leaders Equity ETF | 10,710,598 | — | ||||||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | 299,265 | — | ||||||
Xtrackers MSCI USA ESG Leaders Equity ETF | 391,711,479 | 997,594,377 | ||||||
Xtrackers S&P 500 ESG ETF | 219,885,881 | 84,436,631 | ||||||
Xtrackers S&P MidCap 400 ESG ETF | — | — | ||||||
Xtrackers S&P SmallCap 600 ESG ETF | — | — |
5. Fund Share Transactions
As of February 28, 2022, there were unlimited Fund shares, no par value, authorized by the Trust. Fund shares are issued and redeemed by each Fund only in Creation Units or multiples thereof. Except when aggregated in Creation Units, shares of each Fund are not redeemable. Transactions in capital shares for each Fund are
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Notes to Financial Statements (Unaudited) (Continued)
disclosed in detail in the Statements of Changes in Net Assets. The consideration for the purchase of Creation Units of a Fund generally consists of the in-kind contribution of a designated portfolio of securities constituting a portfolio sampling representation of the securities included in the respective Fund’s Underlying Index and an amount of cash, which under certain circumstances may include cash in lieu of portfolio securities. Investors purchasing and redeeming Creation Units pay a purchase transaction fee and a redemption transaction fee to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units.
6. Concentration of Ownership
From time to time, the Funds may have a concentration of several shareholder accounts holding a significant percentage of shares outstanding. Investment activities of these shareholders could have a material impact on the Fund. At February 28, 2022, there was one affiliated shareholder account for each of the funds listed below holding a significant percentage of the shares outstanding:
Approximate Percent of Outstanding Shares Held | ||||
Xtrackers S&P MidCap 400 ESG ETF | 84 | % | ||
Xtrackers S&P SmallCap 600 ESG ETF | 95 | % |
7. Investing in Emerging Markets
The securities of issuers located in emerging markets tend to be more volatile and less liquid than securities of issuers located in more mature economies, and emerging markets generally have less diverse and less mature economic structures and less stable political systems than those of developed countries. The securities of issuers located or doing substantial business in emerging markets are often subject to rapid and large changes in price.
Investing in securities of Chinese issuers involves certain risks and considerations not typically associated with investing in securities of U.S. issuers, including, among others; more frequent (and potentially widespread) trading suspensions and government interventions with respect to Chinese issuers, resulting in lack of liquidity and in price volatility; currency revaluations and other currency exchange rate fluctuations or blockage; the nature and extent of intervention by the Chinese government in the Chinese securities markets (including both direct and indirect market stabilization efforts, which may affect valuations of Chinese issuers), whether such intervention will continue and the impact of such intervention or its discontinuation; the risk of nationalization or expropriation of assets; the risk that the Chinese government may decide not to continue to support economic reform programs; limitations on the use of brokers (or action by the Chinese government that discourages brokers from serving international clients); higher rates of inflation; greater political, economic and social uncertainty; higher market volatility caused by any potential regional territorial conflicts or natural disasters; the risk of increased trade tariffs, embargoes and other trade limitations; restrictions on foreign ownership; custody risks associated with investing through Shanghai — Hong Kong and Shenzhen — Hong Kong Stock Connect programs, Renminbi Qualified Foreign Institutional Investor program or other programs to access the Chinese securities markets, both interim and permanent market regulations which may affect the ability of certain stockholders to sell Chinese securities when it would otherwise be advisable; and different and less stringent financial reporting standards. In addition, in June 2021, President Biden issued an executive order (“CMIC Order”) prohibiting U.S. persons, including the Funds, from purchasing or selling publicly traded securities (including publicly traded securities that are derivative of, or designed to provide exposure to, such securities) of any Chinese company identified as a “Chinese Military-Industrial Complex Company” (“CMIC”). This prohibition, effective August 2, 2021, expands on similar sanctions imposed by the prior administration on certain designated Chinese military companies (“CCMCs”) that took effect in January 2021. To the extent that any company in an Underlying Index is identified as a CMIC at any time (or was previously designated as a CCMC), it may have material adverse effect on a fund’s ability to track its Underlying Index.
8. Line of Credit
The Trust has entered into a senior unsecured credit facility with a syndication of banks which allows the Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF, Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF and certain other funds managed by the Advisor to borrow up to $105 million. Each Fund
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Notes to Financial Statements (Unaudited) (Continued)
may borrow money under this credit facility to the extent necessary for temporary or emergency purposes, including the funding of shareholder redemption requests, trade settlements, and as necessary to distribute to shareholders any income necessary to maintain each Funds’ status as a regulated investment company. Borrowings are charged an interest rate of 1.25% per annum plus the greater of the Federal Funds Effective Rate or the one-month LIBOR Rate. Each Fund may borrow up to the lesser of 33 percent of its net assets as permitted by the Act or 25 percent of adjusted total net assets. The Funds had no outstanding loans at February 28, 2022.
9. Other — COVID-19 Pandemic
A novel coronavirus known as COVID-19, declared a pandemic by the World Health Organization, has caused significant uncertainty, market volatility, decreased economic and other activity, increased government activity, including economic stimulus measures, and supply chain interruptions. The full effects, duration and costs of the COVID-19 pandemic are impossible to predict, and the circumstances surrounding the COVID-19 pandemic will continue to evolve, including the risk of future increased rates of infection due to low vaccination rates and/or the lack of effectiveness of current vaccines against new variants. The pandemic has affected and may continue to affect certain countries, industries, economic sectors, companies and investment products more than others, may exacerbate existing economic, political, or social tensions and may increase the probability of an economic recession or depression. The Funds’ and their investments may be adversely affected by the effects of the COVID-19 pandemic, and the pandemic may result in the Funds and their service providers experiencing operational difficulties in coordinating a remote workforce and implementing their business continuity plans, among others. Management will continue to monitor the impact COVID-19 has on the Funds and reflect the consequences as appropriate in the Funds’ accounting and financial reporting.
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DBX ETF Trust
In accordance with Rule 22e-4 (the “Liquidity Rule”) under the Investment Company Act of 1940 (the “1940 Act”), your Fund has adopted a liquidity risk management program (the “Program”), and the Board has designated DBX Advisors LLC (“Advisors”) as Program administrator. The Program is designed to assess and manage your Fund’s liquidity risk (the risk that the Fund would be unable to meet requests to redeem shares of the Fund without significant dilution of remaining investors’ interests in the Fund). Advisors has designated a committee (the “Committee”) composed of personnel from multiple departments within an affiliate of Advisors that is responsible for the implementation and ongoing administration of the Program, which includes assessing the Fund’s liquidity risk under both normal and reasonably foreseeable stressed conditions. Under the Program, every investment held by a Fund is classified on a daily basis into one of four liquidity categories based on estimations of the investment’s ability to be sold during designated timeframes in current market conditions without significantly changing the investment’s market value.
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF, Xtrackers MSCI EAFE ESG Leaders Equity ETF, Xtrackers MSCI USA ESG Leaders Equity ETF, Xtrackers S&P 500 ESG ETF, Xtrackers S&P MidCap 400 ESG ETF and Xtrackers S&P SmallCap 600 ESG ETF
In February 2022, as required by the Program and the Liquidity Rule, Advisors provided the Board with an annual written report (the “Report”) addressing the operation of the Program and assessing the adequacy and effectiveness of its implementation during the period from December 1, 2020 through November 30, 2021 (the “Reporting Period”). During the Reporting Period, your Fund was primarily invested in highly liquid investments (investments that the Fund anticipates can be converted to cash within 3 business days or less in current market conditions without significantly changing their market value). As a result, your Fund is not required to adopt, and has not adopted, a “Highly Liquid Investment Minimum” as defined in the Liquidity Rule. During the Reporting Period, the Fund did not approach the 15% limit imposed by the Liquidity Rule on holdings in illiquid investments (investments that cannot be sold or disposed of in seven days or less in current market conditions without the sale of the investment significantly changing the market value of the investment). Your Fund did not experience any issues meeting investor redemptions at any time during the Reporting Period. In the Report, Advisors stated that it believes the Program has operated adequately and effectively to manage the Fund’s liquidity risk during the Reporting Period. Advisors also reported that there were no material changes made to the Program during the Reporting Period.
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF
In February 2022, as required by the Program and the Liquidity Rule, Advisors provided the Board with an annual written report (the “Report”) addressing the operation of the Program and assessing the adequacy and effectiveness of its implementation during the period from December 1, 2020 through November 30, 2021 (the “Reporting Period”). During the Reporting Period, your Fund was primarily invested in highly liquid investments (investments that the Fund anticipates can be converted to cash within three business days or less in current market conditions without significantly changing their market value). As a result, your Fund is not required to adopt, and has not adopted, a “Highly Liquid Investment Minimum” as defined in the Liquidity Rule. During the Reporting Period, the Fund did experience a temporary breach of the 15% limit imposed by the Liquidity Rule on holdings in illiquid investments (investments that cannot be sold or disposed of in seven days or less in current market conditions without the sale of the investment significantly changing the market value of the investment). The breach was caused by the temporary reclassification of Chinese securities as illiquid due to an extended Chinese and Taiwan holiday market closure in February 2021. The temporary reclassification of Chinese securities caused the Fund to exceed the 15% limit on illiquid investments. Because a notification to the Fund’s board of the anticipated extended holiday closure was made before the start of the holiday closure no filing on Form N-LIQUID was required. Also, because the holiday closure was anticipated in advance, no actions were needed to rebalance the Fund’s portfolio. Your Fund did not experience any issues meeting investor redemptions at any time during the Reporting Period. In the Report, Advisors stated that it believes the Program has operated adequately and effectively to manage the Fund’s liquidity risk during the Reporting Period. Advisors also reported that there were no material changes made to the Program during the Reporting Period.
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DBX ETF Trust
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF, Xtrackers MSCI EAFE ESG Leaders Equity ETF, Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF, Xtrackers MSCI USA ESG Leaders Equity ETF, Xtrackers S&P 500 ESG ETF, Xtrackers S&P MidCap 400 ESG ETF and Xtrackers S&P SmallCap 600 ESG ETF
Board Approval of Investment Advisory Agreement with DBX Advisors LLC
After discussions at the meeting of the Board of Trustees (“Board” or “Trustees”) held on February 16-17, 2022 (the “Meeting”), the Trustees, all of whom are the Independent Trustees (those not affiliated with DBX ETF Trust (the “Trust”) or its service providers), unanimously approved the continuance of the Investment Advisory Agreement with respect to Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF, Xtrackers MSCI EAFE ESG Leaders Equity ETF, Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF, Xtrackers MSCI USA ESG Leaders Equity ETF, Xtrackers S&P 500 ESG ETF, Xtrackers S&P MidCap 400 ESG ETF, and Xtrackers S&P SmallCap 600 ESG ETF (each a “Fund,” and collectively, the “Funds”). The Independent Trustees were advised throughout the review and Meeting by K&L Gates LLP (“Independent Trustee Counsel”).
Before reaching their decision to approve the Investment Advisory Agreement for another annual period, the Independent Trustees evaluated the materials furnished to them in advance of the Meeting from DBX Advisors LLC (“DBX” or the “Advisor”) for purposes of reviewing the agreement’s terms, including statistical information prepared by Broadridge Financial Solutions Inc. (“Broadridge”) regarding (a) fee and expense information for each Fund (including the fee and expense components and any amounts waived or reimbursed) as compared to a peer group of other exchange-traded funds (“ETFs”) selected pursuant to Broadridge’s proprietary methodology (each, a “Peer Group”) and (b) each Fund’s tracking error as compared to its underlying index over the previous five years (or since inception, if shorter). The Independent Trustees also took into consideration the discussions they had with management during the Meeting and among themselves during their Executive Sessions held on February 16 and February 17, 2022. The Independent Trustees also noted that they had received and should take into consideration a substantial amount of information furnished throughout the year at regular Board meetings, which information included, among other things, an analysis of each Fund’s investment performance, tracking error and related financial information, presentations given by DBX, as well as its periodic reports on brokerage commissions, portfolio execution and other services provided to the Funds.
In reaching its decision to continue in effect the Investment Advisory Agreement for another annual period, the Board considered all factors it believed relevant, including (1) the nature, extent and quality of the services provided to the Funds and their shareholders; (2) the financial resources of DBX and its resulting ability to perform its obligations under the Investment Advisory Agreement; (3) the competitiveness of the advisory fee; (4) the total cost of the services provided by and the profits realized by the Advisor from its relationship with the Funds; (5) the extent to which economies of scale have been realized, and if the Funds’ shareholders have benefitted from those economies; and (6) fall out benefits, if any, enjoyed by the Advisor.
The Board reached a determination, with the assistance of Independent Trustee Counsel and Vedder Price P.C. (“Trust Counsel”) and through the exercise of its business judgment, that approval of the Investment Advisory Agreement and the compensation to be received thereunder is in the best interests of each Fund and its shareholders as well as consistent with the Board’s duties under state and federal law. The Board reached this conclusion based on multiple factors.
The Board considered the following in determining whether to approve the Investment Advisory Agreement:
Nature, Extent and Quality of Services. The Board reviewed in detail the nature, extent and quality of services provided and the risks incurred by the Advisor under the Investment Advisory Agreement. In doing so, the Board considered the information it had received from and the discussions it had with the Advisor continuously during the prior year, in addition to the information the Advisor had provided in response to the Board’s requests prior to the Meeting. The Board considered that these services include, among other things, furnishing a continuous investment program for the Funds, including arranging for, or implementing, the purchase and sale of portfolio securities, the provision of general corporate services such as portfolio management compliance services and the preparation and filing of certain reports on behalf of the Trust. The Board also considered, among other things, the professional experience, qualifications and performance of the senior management and key professional personnel of the Advisor, including portfolio management.
84
DBX ETF Trust
Board Considerations in Approval of Investment Advisory
Contracts (Unaudited) (Continued)
The Board considered that the Advisor provides, at its own expense, office facilities and equipment for use by the Funds and supervisory persons responsible for supervising and monitoring the Trust’s service providers. The Board also considered that the Advisor pays or arranges for the compensation of officers of the Trust who are also officers or employees of the Advisor or one of its DWS Group affiliates, except as may otherwise be determined by the Board. In addition, the Board considered that the Advisor arranges for the provision of transfer agency, custody, fund administration and accounting, and other non-distribution services necessary for the Funds’ operations. The Board also considered that in addition to managing the Funds’ portfolios directly, the Advisor provides oversight of day-to-day operations, including monitoring tracking error, providing services in connection with the creation and redemption of creation units and assistance in meeting legal, compliance and regulatory requirements applicable to the Funds.
The Board considered the information regarding each Fund’s tracking error compared to its underlying index that had been provided by the Advisor and by Broadridge. The Board took note of the detailed information provided by the Advisor throughout the year with respect to each Fund’s tracking error and the sources thereof. The Trustees noted that tracking error for each Fund during the year was in an expected range.
Based on its review, the Board concluded that the nature, extent, and quality of services provided by the Advisor under the Investment Advisory Agreement are reasonable and appropriate in relation to the fees paid to the Advisor, taking special consideration of the fact that the advisory fee is a unitary fee and, as a result, a portion of the unitary advisory fee will be used to compensate the Funds’ service providers. The Board considered the staffing of the Advisor, including the training, qualifications and experience of investment personnel in managing the Funds. The Board also considered the expertise of the Advisor in supervising third party service providers to the Funds, such as the administrator and the custodian, noting the Advisor’s extensive work with these service providers (including onsite due diligence sessions) to conduct such supervision. The Board further considered the compliance program of the Advisor, which supports the Funds’ compliance program.
Advisor’s Financial Resources. In connection with the assessment of the ability of the Advisor to perform its duties under the Investment Advisory Agreement, the Board considered the Advisor’s financial condition and whether it has the resources necessary to carry out its functions. The Board concluded that the Advisor has the financial resources necessary to perform its obligations under the Investment Advisory Agreement.
Reasonableness of Advisory Fee. The Board compared each Fund’s advisory fee and total expenses to those of the other ETFs in its Peer Group. The Board noted that due to the special characteristics of certain Funds, there were limitations faced by Broadridge in providing comparable funds in the Peer Groups and the information in the Broadridge reports accordingly may or may not provide meaningful direct comparisons to the Funds. The Board also noted that the advisory fees and total expenses (after waivers/reimbursements) for many of the Funds were below or equal to the average and/or median of the ETFs in each Fund’s respective Peer Group compiled by Broadridge, but the following Fund had advisory fees and/or total expenses (after waivers/reimbursements) that were above the average and/or median of its respective Peer Group:
• | Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF |
The Board considered, however, the following additional factors in connection with the following Fund:
• | Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF’s advisory fees were equivalent to the median and its total expenses were below the average and the median of its Peer Group. |
The Board accordingly noted that each Fund’s fee is competitive with the fees of applicable peer ETFs.
The Board considered that the fee for each of the Funds is a unitary fee pursuant to which the Advisor pays all of the Funds’ costs (subject to certain specified exceptions). The Board considered that each Fund’s fee had been priced to scale when it was established. The Board also considered that each Fund’s portfolio is managed on a day-to-day basis by the Advisor and that the Advisor also provides oversight of day-to-day operations, including monitoring tracking error, providing services in connection with creation and redemption units and assistance in meeting legal and regulatory requirements applicable to the Funds. Based on its review, the Board concluded that the advisory fee for each Fund is reasonable in light of the services provided.
85
DBX ETF Trust
Board Considerations in Approval of Investment Advisory
Contracts (Unaudited) (Continued)
Costs of Services and Profitability. The Board considered the expenses of the Advisor in developing and rendering services provided to the Funds and the information provided by the Advisor to the Board regarding the Funds’ profitability. The Board considered that the Advisor had provided extensive information about the Advisor’s profitability and the Advisor’s methodology in determining profitability. While the Advisor had provided information about the Advisor’s expenses relating to marketing the Funds, the Board considered the Advisor’s profitability without accounting for such expenses. The Board determined that, although only some of the Funds were profitable as of this time, the Advisor’s profitability with respect to each profitable Fund was not excessive. The Board considered whether the Advisor would benefit in other ways from its relationships with the Funds and concluded that there were no material fall-out benefits likely to accrue to the Advisor related to the operation of the Funds.
Economies of Scale. The Board considered that certain Funds had attracted a substantial amount of assets, but determined that those Funds were not experiencing economies of scale beyond what was reflected in each Fund’s unitary fee, which the Board noted was very competitive. The Board considered that the other Funds were not experiencing economies of scale at this time and determined to revisit this matter after the Funds had attracted more assets.
Given all the information available to it and considering all material factors, the Board concluded that the Investment Advisory Agreement was fair and reasonable and it was unanimously approved.
86
DBX ETF Trust
Proxy Voting Policies and Procedures
The Funds’ policies and procedures for voting proxies for portfolio securities and information about how each Fund voted proxies related to its portfolio securities during the most recent 12-month period ended June 30 are available on our Web site — www.Xtrackers.com (click on “Resources” and “Proxy Voting” at the top of the page) — or on the SEC’s Web site — www.sec.gov. To obtain a written copy of the Funds’ policies and procedures without charge, upon request, call us toll free at (855) 329-3837.
Portfolio Holdings Information
The Funds are required to file their complete schedule of portfolio holdings with the SEC for their first and third fiscal quarters on Form N-PORT. Copies of the filings are available without charge, upon request on the SEC’s website at www.sec.gov and are available by calling the Trust at 855-329-3837.
Information about each Fund’s portfolio holdings is available daily at www.Xtrackers.com.
Discount & Premium Information
Information regarding how often shares of each Fund traded on NYSE Arca at a price above (i.e.,at a premium) or below (i.e., at a discount) the NAV of the Fund can be found at www.Xtrackers.com.
87
DBX ETF Trust
DBX Advisors LLC (“Advisors”) collects non-public information about you from the following sources: (i) information received from you on applications or other forms; and (ii) information about your transactions with the Advisors, Advisors’ affiliates and third-party service providers and vendors. Advisors does not disclose any non-public personal information about you to anyone, other than as set forth below, as permitted by applicable law and regulation. Advisors may disclose non-public personal information about you to the funds in which you invest, to Advisors’ affiliates, and to non-affiliated companies that work with Advisors to service your account(s), or to provide services or process transactions that you have requested. Advisors may disclose non-public personal information in situations that may include, but are not limited to, in response to legal and/or regulatory inquiries and the proposed or actual sale, assignment merger or other transfer of all or a portion of Advisors’ business to another business entity. Advisors may also disclose non-public personal information about you to parties representing you, such as your investment representative, your accountant, your tax advisor, or to other third parties at your direction/consent. Advisors will not sell, rent, license or trade your personal and financial information to or with third parties for their own direct marketing use unless you give us general or specific consent to do so. If you decide to close your account(s) or become an inactive customer, Advisors will adhere to the privacy policies and practices as described in this notice. Advisors restricts access to your personal and account information to those employees who need to know that information to provide products and services to you. Advisors maintains reasonable and customary physical, electronic and procedural safeguards to guard your non-public personal information.
California residents may go to https://fundsus.dws.com/us/en-us/legal-resources/privacy-policy.html to obtain additional information relating to their rights under California state law.
Advisors reserves the right, at their discretion, to change, modify, add, or remove portions of this Privacy Policy Notice, and any of the policies described herein, at any time. Advisors will indicate any such changes to the Privacy Policy Notice at the privacy link which can be found at www.Xtrackers.com. At all times, you are bound by the then-current version of the Privacy Policy and all applicable laws. Advisors highly recommends that you review this Privacy Policy Notice from time to time to ensure that you are familiar with the most recent version. The examples contained in this Privacy Policy Notice are illustrations; they are not intended to be exclusive.
Rev. 12/2021
88
DBX ETF Trust
This report is intended for the shareholders of the DBX ETF Trust.
This report must be preceded or accompanied by a prospectus.
Investing involves risk, including the possible loss of principal. ESG criteria in a Fund’s investment strategy does not guarantee a return or protect against loss, limits the types and number of investment opportunities available to the Fund and, as a result, the Fund may underperform other funds that do not have an ESG focus. Stocks may decline in value. Foreign investing involves greater and different risks than investing in US companies, including currency fluctuations, less liquidity, less developed or less efficient trading markets, lack of comprehensive company information, political instability and differing auditing and legal standards. Emerging markets tend to be more volatile and less liquid than the markets of more mature economies, and generally have less diverse and less mature economic structures and less stable political systems than those of developed countries. Stocks of medium-sized companies involve greater risk than securities of larger, more established companies. Small company stocks tend to be more volatile than medium-sized or large company stocks. Each Fund, except EASG, EMCR and USSG is currently non-diversified and can take larger positions in fewer issues, increasing its potential risk. Funds investing in a single industry, country or in a limited geographic region generally are more volatile than more diversified funds. Performance of a Fund may diverge from that of its Underlying Index due to operating expenses, transaction costs, cash flows, use of sampling strategies or operational inefficiencies. In certain situations, it may be difficult or impossible to sell an investment at an acceptable price. Any fund that focuses in a particular segment of the market or region of the world will generally be more volatile than a fund that invests more broadly. An investment in any Fund should be considered only as a supplement to a complete investment program for those investors willing to accept the risks associated with the Fund. Please read the prospectus for more information.
The U.S. government has imposed restrictions on the ability of U.S. investors to hold and/or acquire securities of certain Chinese companies. To the extent that an Underlying Index includes such a security and the Fund excludes it, the Fund’s tracking error may increase and the performance of the Fund and Underlying Index may diverge.
Environmental, social and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments: Environmental (how a company performs as a steward of nature); Social (how a company manages relationships with employee, suppliers, customers and communities); Governance (company’s leadership, executive pay, shareholder rights, etc).
War, terrorism, sanctions, economic uncertainty, trade disputes, public health crises and related geopolitical events have led, and, in the future, may lead to significant disruptions in U.S. and world economies and markets, which may lead to increased market volatility and may have significant adverse effects on the Funds and its investments.
Shares of the Funds are bought and sold at market price (not NAV) throughout the day on the NYSE Arca, Inc. Transactions in Fund shares may result in brokerage commissions and may generate tax consequences. There can be no assurance that an active trading market for shares of a Fund will develop or be maintained.
DBX ETF Trust Funds are distributed by ALPS Distributors, Inc. (“ALPS”). The Funds are managed by DBX Advisors LLC which is not affiliated with ALPS.
The brand DWS represents DWS Group GmbH & Co. KGaA and any of its subsidiaries such as DWS Distributors, Inc. which offers investment products or DWS Investment Management Americas, Inc. and RREEF America L.L.C. which offer advisory services.
The Funds or securities referred to herein are not sponsored, endorsed, issued, sold or promoted by MSCI, and MSCI bears no liability with respect to any such Funds or securities or any index on which such Funds or securities are based. The prospectus contains a more detailed description of the limited relationship MSCI has with DBX Advisors LLC and any related funds.
The S&P 400 ESG Index, S&P 500 ESG Index and S&P 600 ESG Index are products of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”), and have been licensed for use by DBX Advisors. S&P®, S&P 400®, S&P 500® and S&P 600®, are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by DBX Advisors. The ESG Scores used in the Indexes are calculated by SAM. DBX Advisors LLC. Xtrackers ETFs are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates or SAM, and none of such parties make any representation regarding the advisability of investing in such ETFs, nor do they have any liability for any errors, omissions, or interruptions of the S&P 400 ESG Index, S&P 500 ESG Index and S&P 600 ESG Index.
EMCR (the “Fund”) is not sponsored, endorsed, sold or promoted by Solactive. Neither Solactive nor any other party makes any representation or warranty, express or implied, to the owners of the Fund or any member of the public regarding advisability of investing in funds generally or in this Fund particularly or the ability of the Underlying Indexes to track general stock market performance. Neither Solactive nor any other party makes any express or implied warranties, and Solactive hereby expressly disclaims all warranties of merchantability or fitness for a particular purpose with respect to the Underlying Indexes or any data included therein. The prospectus contains a more detailed description of the limited relationship Solactive has with DBX Advisors LLC and any related funds.
Copyright © 2022 DWS Group. All rights reserved. XtrackersTM is a trademark of DWS Investment GmbH. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
Not FDIC Insured | No Bank Guarantee | May Lose Value
DBX ETF Trust
Investment advisor DBX Advisors LLC 875 Third Avenue New York, NY 10022 | Administrator, custodian, fund accounting agent, lending agent & transfer agent The Bank of New York Mellon 240 Greenwich Street New York, NY 10286 | Distributor ALPS Distributors, Inc. 1290 Broadway Suite 1000 Denver, CO 80203 | ||
Independent registered public accounting firm Ernst & Young LLP One Manhattan West New York, NY 10001 | Legal counsel Vedder Price P.C. 1633 Broadway New York, NY 10019 |
R-065808-4 (4/22) DBX005126 (4/23)
February 28, 2022
Semi-Annual Report
DBX ETF Trust
Xtrackers High Beta High Yield Bond ETF (HYUP)
Xtrackers Low Beta High Yield Bond ETF (HYDW)
Xtrackers Risk Managed USD High Yield Strategy ETF (HYRM)
Xtrackers Short Duration High Yield Bond ETF (SHYL)
Xtrackers USD High Yield Corporate Bond ETF (HYLB)
DBX ETF Trust
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88 |
To our Shareholders: (Unaudited)
Dear Shareholder,
We are pleased to provide this semiannual report for five of our ETFs tracking the fixed income market for the period ended February 28, 2022.
Global financial markets witnessed several severe shifts during the last six months as economies continued to unlock again. The emergence of the highly infectious Omicron variant of the coronavirus began to take a toll on global growth by the end of 2021. To tackle the attendant disruptions, countries had to restrict movements and expedite their vaccination programs. Additionally, the invasion of the Russian Army into Ukraine on February 24, 2022 increased volatility in financial markets. Macro data depicted a mixed picture of the U.S. economy since the start of the reporting period. The purchasing manager’s index (PMI)1 continued to slide worldwide; however, it recovered strongly in February 2022, signaling expanded economic activity. In 4Q 2021, Eurozone GDP experienced the slowest quarter-on-quarter growth in the last three quarters; nonetheless, the economy touched the pre-pandemic size. The PMI in the region slipped to an 11-month low in January 2022, due to weakness in the services sector, disrupted by the Omicron wave.
Central banks globally kept a hawkish stance as rallying oil and gas prices continued to trouble most parts of the world. The U.S. Federal Reserve (Fed) is on track to ending its bond purchase program in March 2022. The Federal Open Market Committee (FOMC) meeting confirmed widespread expectations of a Fed funds lift-off in March 2022. In addition, the FOMC is actively looking to reduce its inflated balance sheet. This would raise the cost of capital for corporates, evident in widening spreads on both investment grade and high-yield corporates in January 2022. U.S. benchmark Treasury yields rose as well during the reporting period.
Higher inflation and hawkish central bank policies contributed to dismal bond market returns during most of the period under consideration. Yield curves flattened globally as short-term yields rose higher than long-term yields as investors anticipated rate hikes in 2022. Spreads widened the most in the U.S. market followed by the European and U.K. markets during the fourth quarter of 2021 following fears the Omicron variant would impact global growth. However, spreads tightened again in December 2021 on evidence of a lower impact of the virus, fewer supply of new issues, and “Santa Claus Rally”.2
January and February 2022 were dominated by a number of negative themes, especially for the Eurozone bond markets, such as higher-than-expected inflation and increased geopolitical tensions over the Russia-Ukraine border. This resulted in relatively more widening of spreads in the European markets than in the U.S. bond market. During the last six months, the German 10-year government bond yields rose and entered into positive territory by January 2022 as European countries eased lockdown measures. The European Central Bank (ECB) has indicated that inflation in the Eurozone will likely remain elevated longer than previously expected, but will ease during the course of the year. In light of this and recovery in economic activity, the ECB is expected to end asset purchases under the Pandemic Emergency Purchase Programme by the end of March 2022.
We believe 2022 will be viewed as a year of transition as the global economy, along with the investment environment, evolves in search of a new normal. Geopolitical pressures coupled with disparities in central bank policies across different regions is expected to impact investment decisions. On one hand, the economic effects of the war between Russia and Ukraine and other supporting nations need to be monitored. On the other, we believe high inflation is a proxy of readjustment to demand-supply mismatches and labor markets. It can, therefore, be tackled with efficient risk management of portfolios, along with longer-term investment horizon.
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
1 The Purchasing Managers’ Index (PMI) is an index of the prevailing direction of economic trends in the manufacturing and service sectors. The purpose of the PMI is to provide information about current and future business conditions to company decision makers, analysts, and investors.
2 A Santa Claus rally is a calendar effect that involves a rise in risk asset prices during the last five trading days in December and the first two trading days in the following January.
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 US 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, 2022 |
Description | % of Market Value | |||
BBB | 1.2% | |||
BB | 48.4% | |||
B | 37.6% | |||
CCC | 12.7% | |||
CC | 0.1% | |||
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| |||
Total | 100.0% |
The quality ratings represents the average of Moody’s Investor Services, Inc. (“Moody’s”), S&P Global Ratings (S&P) or Fitch Ratings Inc. (Fitch) credit ratings. The ratings of Moody’s, S&P and Fitch 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, 2022 |
United States | 84.6% | |||
Canada | 4.6% | |||
Luxembourg | 2.6% | |||
Netherlands | 2.3% | |||
Other | 5.9% | |||
|
| |||
Total | 100.0% |
Sector Diversification* as of February 28, 2022 |
Communications | 21.0% | |||
Consumer, Cyclical | 20.0% | |||
Consumer, Non-cyclical | 18.4% | |||
Energy | 11.9% | |||
Financial | 9.8% | |||
Industrial | 8.9% | |||
Technology | 4.0% | |||
Basic Materials | 3.8% | |||
Utilities | 2.2% | |||
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| |||
Total | 100.0% |
Modified duration to worst as of February 28, 2022: 4.8 years Modified duration to worst is the measure of sensitivity of the price of a bond to a change in interest rates, assuming worst case scenario.
* 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 10.
3
DBX ETF Trust
Portfolio Summary (Unaudited)
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 US 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, 2022 |
Description | % of Market Value | |||
BBB | 18.4% | |||
BB | 68.8% | |||
B | 11.9% | |||
CCC | 0.9% | |||
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| |||
Total | 100.0% |
The quality ratings represents the average of Moody’s Investor Services, Inc. (“Moody’s”), S&P Global Ratings (S&P) or Fitch Ratings Inc. (Fitch) credit ratings. The ratings of Moody’s, S&P and Fitch 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, 2022 |
United States | 90.6% | |||
Canada | 2.2% | |||
Other | 7.2% | |||
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| |||
Total | 100.0% |
Sector Diversification* as of February��28, 2022 |
Consumer, Cyclical | 20.4% | |||
Consumer, Non-cyclical | 20.2% | |||
Communications | 17.3% | |||
Energy | 13.0% | |||
Financial | 11.8% | |||
Industrial | 7.7% | |||
Technology | 4.0% | |||
Basic Materials | 2.8% | |||
Utilities | 2.8% | |||
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| |||
Total | 100.0% |
Modified duration to worst as of February 28, 2022: 3.6 years Modified duration to worst is the measure of sensitivity of the price of a bond to a change in interest rates, assuming worst case scenario.
* 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 22.
4
DBX ETF Trust
Portfolio Summary (Unaudited)
Xtrackers Risk Managed USD High Yield Strategy ETF (HYRM)
The Xtrackers Risk Managed USD High Yield Strategy 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 Adaptive Wealth Strategies Risk Managed High Yield Index (the “Underlying Index”). The Underlying Index is designed to track the performance of the US dollar-denominated high yield corporate bond market during normal market conditions, and the performance of a USD cash position accruing interest at the Effective Federal Funds Rate (the interest rate depository institutions such as banks charge each other for overnight loans to meet their reserve requirements) during periods of adverse market conditions. It is not possible to invest directly into an index.
Quality* as of February 28, 2022 |
Description | % of Market Value | |||
BB | 100.0% | |||
|
| |||
Total | 100.0% |
The quality ratings represents the average of Moody’s Investor Services, Inc. (“Moody’s”), S&P Global Ratings (S&P) or Fitch Ratings Inc. (Fitch) credit ratings. The ratings of Moody’s, S&P and Fitch 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.
Sector Diversification* as of February 28, 2022 |
Consumer, Cyclical | 20.9% | |||
Communications | 19.0% | |||
Consumer, Non-cyclical | 18.9% | |||
Energy | 12.4% | |||
Financial | 10.8% | |||
Industrial | 8.2% | |||
Technology | 4.0% | |||
Basic Materials | 3.3% | |||
Utilities | 2.5% | |||
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| |||
Total | 100.0% |
Modified duration to worst as of February 28, 2022: 4.2 years
Modified duration to worst is the measure of sensitivity of the price of a bond to a change in interest rates, assuming worst case scenario.
*As a percentage of total investments excluding cash equivalents. Sector percentages include the sector allocations of the Underlying Funds in which the Fund invests.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 33.
5
DBX ETF Trust
Portfolio Summary (Unaudited)
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 US dollar-denominated below investment grade corporate debt. It is not possible to invest directly into an index.
Quality* as of February 28, 2022 |
Description | % of Market Value | |||
BBB | 8.6% | |||
BB | 59.0% | |||
B | 26.2% | |||
CCC | 6.2% | |||
|
| |||
Total | 100.0% |
The quality ratings represents the average of Moody’s Investor Services, Inc. (“Moody’s”), S&P Global Ratings (S&P) or Fitch Ratings Inc. (Fitch) credit ratings. The ratings of Moody’s, S&P and Fitch 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, 2022 |
United States | 86.4% | |||
Canada | 3.8% | |||
Netherlands | 2.3% | |||
Other | 7.5% | |||
|
| |||
Total | 100.0% |
Sector Diversification* as of February 28, 2022 |
Consumer, Cyclical | 25.7% | |||
Communications | 16.1% | |||
Consumer, Non-cyclical | 15.2% | |||
Energy | 13.6% | |||
Financial | 13.0% | |||
Industrial | 9.8% | |||
Technology | 2.9% | |||
Basic Materials | 1.9% | |||
Utilities | 1.8% | |||
|
| |||
Total | 100.0% |
Modified duration to worst as of February 28, 2022: 2.2 years Modified duration to worst is the measure of sensitivity of the price of a bond to a change in interest rates, assuming worst case scenario.
* 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 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, 2022 |
Description | % of Market Value | |||
BBB | 9.0% | |||
BB | 58.5% | |||
B | 25.3% | |||
CCC | 7.1% | |||
C | 0.1% | |||
|
| |||
Total | 100.0% |
The quality ratings represents the average of Moody’s Investor Services, Inc. (“Moody’s”), S&P Global Ratings (S&P) or Fitch Ratings Inc. (Fitch) credit ratings. The ratings of Moody’s, S&P and Fitch 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, 2022 |
United States | 87.5% | |||
Canada | 3.5% | |||
Netherlands | 2.0% | |||
Other | 7.0% | |||
|
| |||
Total | 100.0% |
Sector Diversification* as of February 28, 2022 |
Consumer, Cyclical | 20.9% | |||
Communications | 19.0% | |||
Consumer, Non-cyclical | 18.9% | |||
Energy | 12.4% | |||
Financial | 10.8% | |||
Industrial | 8.2% | |||
Technology | 4.0% | |||
Basic Materials | 3.3% | |||
Utilities | 2.5% | |||
|
| |||
Total | 100.0% |
Modified duration to worst as of February 28, 2022: 4.2 years Modified duration to worst is the measure of sensitivity of the price of a bond to a change in interest rates, assuming worst case scenario.
* 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 44.
7
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 unitary advisory 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. In addition to the ongoing expenses which each Fund bears directly, the Xtrackers Risk Managed USD High Yield Strategy ETF shareholders indirectly bear the expenses of Xtrackers High Beta High Yield Bond ETF and Xtrackers USD High Yield Corporate Bond ETF (the “Underlying Funds”) in which the Xtrackers Risk Managed USD High Yield Strategy ETF invests. The Underlying Funds’ expenses are not included in Xtrackers Risk Managed USD High Yield Strategy ETF’s annualized expense ratios used to calculate the expense estimate in the tables. 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, 2021 to February 28, 2022), except Xtrackers Risk Managed USD High Yield Strategy ETF which is 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, 2022).
Actual expenses
The first line in the following tables provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading “Expenses Paid During the Period” to estimate the expenses you paid on your account during this period.
Hypothetical example for comparison purposes
The second line in the following tables provides information about hypothetical account values and hypothetical expenses based on the Funds’ actual expense ratios and an assumed rate of return of 5% per year before expenses (which is not the Funds’ actual return). The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Please note that the expenses shown in the tables are meant to highlight your ongoing costs only, and do not reflect any transactional costs. Therefore the second line in the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
Beginning Account Value September 1, 2021 | Ending Account Value February 28, 2022 | Annualized Expense Ratio | Expenses Paid During the Period Per $1,000(1) | |||||||||||||
Xtrackers High Beta High Yield Bond ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 966.80 | 0.20 | % | $ | 0.97 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,023.81 | 0.20 | % | $ | 1.00 | ||||||||
Xtrackers Low Beta High Yield Bond ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 970.70 | 0.20 | % | $ | 0.98 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,023.81 | 0.20 | % | $ | 1.00 | ||||||||
Xtrackers Risk Managed USD High Yield Strategy ETF (3) |
| |||||||||||||||
Actual (2) | $ | 1,000.00 | $ | 994.80 | 0.15 | % | $ | 0.08 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,024.05 | 0.15 | % | $ | 0.76 | ||||||||
Xtrackers Short Duration High Yield Bond ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 985.80 | 0.20 | % | $ | 0.98 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,023.81 | 0.20 | % | $ | 1.00 |
8
DBX ETF Trust
Fees and Expenses (Unaudited) (Continued)
Beginning Account Value September 1, 2021 | Ending Account Value February 28, 2022 | Annualized Expense Ratio | Expenses Paid During the Period Per $1,000(1) | |||||||||||||
Xtrackers USD High Yield Corporate Bond ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 969.00 | 0.15 | % | $ | 0.73 | ||||||||
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.
(2) Expenses are equal to each Fund’s annualized expense ratio, multiplied by the average account value over the period, multiplied by 19 (the number of days in the period February 10, 2022 (commencement of operations) to February 28, 2022), then divided by 365.
(3) The Fund invests in other ETFs and indirectly bears its proportionate share of fees and expenses incurred by the Underlying Funds in which the Fund is invested. This ratio does not include these indirect fees and expenses.
9
DBX ETF Trust
Xtrackers High Beta High Yield Bond ETF
February 28, 2022 (Unaudited)
Principal | Value | |||||||
CORPORATE BONDS — 98.3% | ||||||||
Basic Materials — 3.7% | ||||||||
Chemicals — 2.5% | ||||||||
ASP Unifrax Holdings, Inc. | $ | 28,000 | $ | 26,857 | ||||
144A, 7.50%, 9/30/29 (a) | 14,000 | 12,798 | ||||||
Axalta Coating Systems LLC, 144A, | 31,000 | 28,332 | ||||||
Chemours Co. | 8,000 | 8,040 | ||||||
144A, 5.75%, 11/15/28 | 47,000 | 46,246 | ||||||
144A, 4.625%, 11/15/29 | 18,000 | 16,701 | ||||||
Consolidated Energy Finance SA | 14,000 | 14,003 | ||||||
144A, 5.625%, 10/15/28 | 28,000 | 25,915 | ||||||
Methanex Corp. | 25,000 | 25,423 | ||||||
5.25%, 12/15/29 | 25,000 | 25,298 | ||||||
NOVA Chemicals Corp. | 47,000 | 47,199 | ||||||
144A, 4.25%, 5/15/29 (a) | 20,000 | 18,775 | ||||||
Olympus Water US Holding Corp. | 30,000 | 28,014 | ||||||
144A, 6.25%, 10/1/29 (a) | 14,000 | 12,861 | ||||||
SCIH Salt Holdings, Inc. | 40,000 | 38,300 | ||||||
144A, 6.625%, 5/1/29 | 34,000 | 32,005 | ||||||
TPC Group, Inc., 144A, | 33,000 | 18,150 | ||||||
Tronox, Inc., 144A, | 37,000 | 34,926 | ||||||
Valvoline, Inc. | 23,000 | 21,822 | ||||||
144A, 3.625%, 6/15/31 | 25,000 | 22,432 | ||||||
WR Grace Holdings LLC | 26,000 | 26,007 | ||||||
144A, 5.625%, 8/15/29 | 50,000 | 48,000 | ||||||
|
| |||||||
(Cost $619,729) | 578,104 | |||||||
|
| |||||||
Forest Products & Paper — 0.1% | ||||||||
Mercer International, Inc., | ||||||||
(Cost $31,529) | 31,000 | 30,360 | ||||||
|
| |||||||
Iron/Steel — 0.3% | ||||||||
Cleveland-Cliffs, Inc. | 5,000 | 4,833 | ||||||
144A, 4.875%, 3/1/31 (a) | 29,000 | 28,029 | ||||||
United States Steel Corp., | 25,000 | 25,719 | ||||||
|
| |||||||
(Cost $58,590) | 58,581 | |||||||
|
| |||||||
Mining — 0.8% | ||||||||
Constellium SE, 144A, | 18,000 | 16,571 | ||||||
Hudbay Minerals, Inc. | 17,000 | 16,447 | ||||||
144A, 6.125%, 4/1/29 (a) | 26,000 | 26,621 |
Principal | Value | |||||||
Mining (Continued) | ||||||||
Kaiser Aluminum Corp. | $ | 15,000 | $ | 14,188 | ||||
144A, 4.50%, 6/1/31 | 21,000 | 18,946 | ||||||
Novelis Corp. | 63,000 | 61,760 | ||||||
144A, 3.875%, 8/15/31 | 32,000 | 29,523 | ||||||
|
| |||||||
(Cost $194,877) | 184,056 | |||||||
|
| |||||||
Communications — 20.6% | ||||||||
Advertising — 1.0% | ||||||||
Clear Channel Outdoor Holdings, Inc. | 50,000 | 51,925 | ||||||
144A, 7.50%, 6/1/29 | 31,000 | 32,186 | ||||||
Midas OpCo Holdings LLC, 144A, | 41,000 | 40,232 | ||||||
Outfront Media Capital LLC / Outfront Media | 23,000 | 22,732 | ||||||
144A, 4.25%, 1/15/29 | 18,000 | 17,191 | ||||||
144A, 4.625%, 3/15/30 | 18,000 | 17,054 | ||||||
Terrier Media Buyer, Inc., 144A, | 38,000 | 38,993 | ||||||
|
| |||||||
(Cost $223,990) | 220,313 | |||||||
|
| |||||||
Internet — 0.4% | ||||||||
Arches Buyer, Inc., 144A, | 18,000 | 16,881 | ||||||
Photo Holdings Merger Sub, Inc., 144A, | 28,000 | 27,857 | ||||||
Uber Technologies, Inc., 144A, | 63,000 | 60,434 | ||||||
|
| |||||||
(Cost $109,869) | 105,172 | |||||||
|
| |||||||
Media — 11.7% | ||||||||
Altice Financing SA | 42,000 | 37,892 | ||||||
144A, 5.75%, 8/15/29 | 72,000 | 65,699 | ||||||
AMC Networks, Inc., | 45,000 | 42,202 | ||||||
Audacy Capital Corp. | 17,000 | 16,171 | ||||||
144A, 6.75%, 3/31/29 (a) | 24,000 | 22,783 | ||||||
CCO Holdings LLC / CCO Holdings Capital Corp. | 101,000 | 96,878 | ||||||
144A, 4.25%, 2/1/31 | 120,000 | 112,634 | ||||||
144A, 4.75%, 2/1/32 | 45,000 | 43,750 | ||||||
4.50%, 5/1/32 | 114,000 | 108,275 | ||||||
144A, 4.50%, 6/1/33 | 71,000 | 66,667 | ||||||
144A, 4.25%, 1/15/34 | 74,000 | 67,889 | ||||||
CSC Holdings LLC | 42,000 | 41,990 | ||||||
144A, 6.50%, 2/1/29 | 61,000 | 61,859 | ||||||
144A, 5.75%, 1/15/30 | 79,000 | 69,768 | ||||||
144A, 4.125%, 12/1/30 | 54,000 | 48,566 | ||||||
144A, 4.625%, 12/1/30 | 99,000 | 82,614 | ||||||
144A, 3.375%, 2/15/31 | 50,000 | 42,663 | ||||||
144A, 4.50%, 11/15/31 | 53,000 | 48,304 | ||||||
144A, 5.00%, 11/15/31 | 18,000 | 15,006 |
See Notes to Financial Statements. | 10 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Media (Continued) | ||||||||
Diamond Sports Group LLC / Diamond Sports Finance Co. 144A, | $ | 120,000 | $ | 49,406 | ||||
144A, 6.625%, 8/15/27 | 76,000 | 18,430 | ||||||
Directv Financing LLC / Directv Financing Co.-Obligor, Inc., 144A, | 145,000 | 145,231 | ||||||
DISH DBS Corp. | 80,000 | 80,080 | ||||||
7.75%, 7/1/26 | 80,000 | 81,108 | ||||||
144A, 5.25%, 12/1/26 | 101,000 | 99,201 | ||||||
7.375%, 7/1/28 (a) | 35,000 | 32,962 | ||||||
144A, 5.75%, 12/1/28 | 108,000 | 103,580 | ||||||
5.125%, 6/1/29 | 53,000 | 44,814 | ||||||
Gray Escrow II, Inc., 144A, | 56,000 | 53,418 | ||||||
Gray Television, Inc., 144A, | 28,000 | 26,288 | ||||||
iHeartCommunications, Inc. | 58,000 | 60,478 | ||||||
144A, 4.75%, 1/15/28 | 18,000 | 17,436 | ||||||
LCPR Senior Secured Financing DAC | 56,000 | 57,038 | ||||||
144A, 5.125%, 7/15/29 | 30,000 | 28,883 | ||||||
McGraw-Hill Education, Inc. | 34,000 | 32,300 | ||||||
144A, 8.00%, 8/1/29 | 24,000 | 21,585 | ||||||
Nexstar Media, Inc., 144A, | 35,000 | 34,083 | ||||||
Radiate Holdco LLC / Radiate Finance, Inc. | 41,000 | 39,223 | ||||||
144A, 6.50%, 9/15/28 | 35,000 | 32,915 | ||||||
Scripps Escrow II, Inc., 144A, | 18,000 | 17,100 | ||||||
Sinclair Television Group, Inc. | 14,000 | 12,756 | ||||||
144A, 5.50%, 3/1/30 | 18,000 | 15,816 | ||||||
144A, 4.125%, 12/1/30 | 26,000 | 23,311 | ||||||
Sirius XM Radio, Inc., 144A, | 58,000 | 53,523 | ||||||
TEGNA, Inc. | 44,000 | 44,055 | ||||||
5.00%, 9/15/29 | 42,000 | 41,966 | ||||||
Univision Communications, Inc., 144A, | 37,000 | 35,198 | ||||||
UPC Broadband Finco BV, 144A, | 52,000 | 49,739 | ||||||
Virgin Media Finance PLC, 144A, | 33,000 | 31,056 | ||||||
Virgin Media Secured Finance PLC | 50,000 | 50,033 | ||||||
144A, 4.50%, 8/15/30 | 32,000 | 29,969 | ||||||
VZ Secured Financing BV, 144A, | 64,000 | 61,216 | ||||||
Ziggo Bond Co. BV, 144A, | 18,000 | 16,807 |
Principal | Value | |||||||
Media (Continued) | ||||||||
Ziggo BV, 144A, | $ | 35,000 | $ | 33,450 | ||||
|
| |||||||
(Cost $2,882,643) | 2,666,064 | |||||||
|
| |||||||
Telecommunications — 7.5% | ||||||||
Altice France Holding SA | 64,000 | 67,114 | ||||||
144A, 6.00%, 2/15/28 (a) | 45,000 | 39,791 | ||||||
Altice France SA | 39,000 | 36,512 | ||||||
144A, 5.125%, 1/15/29 | 17,000 | 15,447 | ||||||
144A, 5.125%, 7/15/29 | 108,000 | 97,873 | ||||||
144A, 5.50%, 10/15/29 | 70,000 | 64,237 | ||||||
Avaya, Inc., 144A, | 38,000 | 36,678 | ||||||
C&W Senior Financing DAC, 144A, | 47,000 | 48,794 | ||||||
CommScope Technologies LLC | 46,000 | 45,146 | ||||||
144A, 5.00%, 3/15/27 | 26,000 | 23,044 | ||||||
CommScope, Inc. | 54,000 | 55,149 | ||||||
144A, 8.25%, 3/1/27 | 35,000 | 34,887 | ||||||
144A, 7.125%, 7/1/28 | 40,000 | 37,568 | ||||||
144A, 4.75%, 9/1/29 | 44,000 | 41,101 | ||||||
Connect Finco SARL / Connect US Finco LLC, 144A, | 73,000 | 73,985 | ||||||
Consolidated Communications, Inc. | 14,000 | 13,281 | ||||||
144A, 6.50%, 10/1/28 (a) | 27,000 | 26,933 | ||||||
DKT Finance ApS, 144A, | 13,000 | 13,067 | ||||||
Frontier Communications Holdings LLC | 45,000 | 45,684 | ||||||
144A, 5.00%, 5/1/28 | 61,000 | 59,307 | ||||||
144A, 6.75%, 5/1/29 | 39,000 | 37,928 | ||||||
5.875%, 11/1/29 | 30,000 | 27,654 | ||||||
144A, 6.00%, 1/15/30 | 38,000 | 35,074 | ||||||
Iliad Holding SASU | 43,000 | 42,838 | ||||||
144A, 7.00%, 10/15/28 | 41,000 | 40,852 | ||||||
Intelsat Jackson Holdings SA, 144A, | 116,000 | 118,030 | ||||||
Level 3 Financing, Inc. | 42,000 | 38,850 | ||||||
144A, 3.625%, 1/15/29 | 40,000 | 35,101 | ||||||
144A, 3.75%, 7/15/29 | 41,000 | 36,246 | ||||||
Lumen Technologies, Inc. | 30,000 | 25,101 | ||||||
144A, 5.375%, 6/15/29 | 43,000 | 37,389 | ||||||
Telesat Canada / Telesat LLC | 18,000 | 13,264 | ||||||
144A, 4.875%, 6/1/27 | 15,000 | 10,678 | ||||||
144A, 6.50%, 10/15/27 | 22,000 | 11,037 | ||||||
Viasat, Inc. | 25,000 | 23,915 | ||||||
144A, 5.625%, 4/15/27 | 21,000 | 21,002 | ||||||
144A, 6.50%, 7/15/28 | 24,000 | 22,185 |
See Notes to Financial Statements. | 11 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Telecommunications (Continued) | ||||||||
Vmed O2 UK Financing I PLC | $ | 52,000 | $ | 47,917 | ||||
144A, 4.75%, 7/15/31 | 60,000 | 57,606 | ||||||
Windstream Escrow LLC / Windstream Escrow Finance Corp., 144A, | 49,000 | 49,516 | ||||||
Zayo Group Holdings, Inc. | 62,000 | 59,029 | ||||||
144A, 6.125%, 3/1/28 (a) | 38,000 | 35,384 | ||||||
|
| |||||||
(Cost $1,802,930) | 1,702,194 | |||||||
|
| |||||||
Consumer, Cyclical — 19.7% | ||||||||
Airlines — 1.2% | ||||||||
American Airlines Group, Inc., 144A, | 18,000 | 16,785 | ||||||
American Airlines, Inc., 144A, | 97,000 | 117,884 | ||||||
Hawaiian Brand Intellectual Property Ltd. / HawaiianMiles Loyalty Ltd., 144A, | 52,000 | 52,711 | ||||||
United Airlines, Inc., 144A, | 80,000 | 78,056 | ||||||
|
| |||||||
(Cost $255,971) | 265,436 | |||||||
|
| |||||||
Auto Manufacturers — 0.4% | ||||||||
Allison Transmission, Inc., 144A, | 35,000 | 32,552 | ||||||
Jaguar Land Rover Automotive PLC | 27,000 | 24,876 | ||||||
144A, 5.875%, 1/15/28 | 15,000 | 14,895 | ||||||
144A, 5.50%, 7/15/29 | 16,000 | 15,401 | ||||||
|
| |||||||
(Cost $90,863) | 87,724 | |||||||
|
| |||||||
Auto Parts & Equipment — 1.4% | ||||||||
Adient Global Holdings Ltd., 144A, | 29,000 | 29,079 | ||||||
American Axle & Manufacturing, Inc. | 14,000 | 14,452 | ||||||
5.00%, 10/1/29 (a) | 21,000 | 19,955 | ||||||
Clarios Global LP / Clarios US Finance Co., 144A, | 72,000 | 75,042 | ||||||
Dana, Inc., | 12,000 | 11,419 | ||||||
Goodyear Tire & Rubber Co. | 30,000 | 29,553 | ||||||
5.25%, 4/30/31 | 16,000 | 15,578 | ||||||
144A, 5.25%, 7/15/31 | 24,000 | 23,407 | ||||||
5.625%, 4/30/33 | 26,000 | 25,038 | ||||||
Tenneco, Inc. | 10,000 | 9,989 | ||||||
144A, 7.875%, 1/15/29 | 24,000 | 25,375 | ||||||
144A, 5.125%, 4/15/29 | 47,000 | 46,716 | ||||||
|
| |||||||
(Cost $331,279) | 325,603 | |||||||
|
| |||||||
Distribution/Wholesale — 0.6% | ||||||||
American Builders & Contractors Supply Co., Inc., 144A, | 14,000 | 13,182 |
Principal | Value | |||||||
Distribution/Wholesale (Continued) | ||||||||
H&E Equipment Services, Inc., 144A, | $ | 44,000 | $ | 41,232 | ||||
Wolverine Escrow LLC | 25,000 | 21,041 | ||||||
144A, 9.00%, 11/15/26 (a) | 37,000 | 37,061 | ||||||
144A, 13.125%, 11/15/27 (a) | 19,000 | 9,405 | ||||||
|
| |||||||
(Cost $132,540) | 121,921 | |||||||
|
| |||||||
Entertainment — 2.5% | ||||||||
AMC Entertainment Holdings, Inc. | 63,000 | 58,385 | ||||||
144A, 7.50%, 2/15/29 | 32,000 | 31,654 | ||||||
Caesars Entertainment, Inc., 144A, | 52,000 | 49,546 | ||||||
Cedar Fair LP, | 19,000 | 19,012 | ||||||
Cedar Fair LP / Canada’s Wonderland Co. / Magnum Management Corp. / Millennium Op, | 15,000 | 15,128 | ||||||
Cinemark USA, Inc. | 14,000 | 13,804 | ||||||
144A, 5.25%, 7/15/28 (a) | 27,000 | 25,581 | ||||||
Lions Gate Capital Holdings LLC, 144A, | 35,000 | 33,330 | ||||||
Live Nation Entertainment, Inc., 144A, | 40,000 | 39,350 | ||||||
Mohegan Gaming & Entertainment, 144A, | 41,000 | 41,459 | ||||||
Penn National Gaming, Inc. | 22,000 | 22,330 | ||||||
144A, 4.125%, 7/1/29 | 13,000 | 12,039 | ||||||
Premier Entertainment Sub LLC / Premier Entertainment Finance Corp. | 34,000 | 30,888 | ||||||
144A, 5.875%, 9/1/31 | 28,000 | 25,236 | ||||||
Resorts World Las Vegas LLC / RWLV Capital, Inc., 144A, | 35,000 | 32,794 | ||||||
Scientific Games International, Inc., 144A, | 50,000 | 51,550 | ||||||
Six Flags Entertainment Corp., 144A, | 20,000 | 20,194 | ||||||
Wynn Resorts Finance LLC / Wynn Resorts Capital Corp. | 24,000 | 25,082 | ||||||
144A, 5.125%, 10/1/29 | 26,000 | 25,056 | ||||||
|
| |||||||
(Cost $595,502) | 572,418 | |||||||
|
| |||||||
Food Service — 0.4% | ||||||||
Aramark Services, Inc., 144A, | 50,000 | 50,144 | ||||||
TKC Holdings, Inc. | 20,000 | 19,825 | ||||||
144A, 10.50%, 5/15/29 | 20,000 | 20,536 | ||||||
|
| |||||||
(Cost $92,342) | 90,505 | |||||||
|
|
See Notes to Financial Statements. | 12 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Home Builders — 0.5% | ||||||||
Ashton Woods USA LLC / Ashton Woods Finance Co., 144A, | $ | 14,000 | $ | 13,212 | ||||
Brookfield Residential Properties, Inc. / Brookfield Residential US LLC | 25,000 | 25,093 | ||||||
144A, 4.875%, 2/15/30 | 17,000 | 15,533 | ||||||
Century Communities, Inc., 144A, | 18,000 | 16,723 | ||||||
Mattamy Group Corp., 144A, | 21,000 | 19,778 | ||||||
Taylor Morrison Communities, Inc., 144A, | 27,000 | 26,955 | ||||||
|
| |||||||
(Cost $123,236) | 117,294 | |||||||
|
| |||||||
Home Furnishings — 0.1% | ||||||||
Tempur Sealy International, Inc., 144A, | ||||||||
(Cost $30,736) | 31,000 | 27,900 | ||||||
|
| |||||||
Housewares — 0.2% | ||||||||
Scotts Miracle-Gro Co. | 19,000 | 17,462 | ||||||
4.375%, 2/1/32 | 23,000 | 21,268 | ||||||
|
| |||||||
(Cost $41,407) | 38,730 | |||||||
|
| |||||||
Leisure Time — 3.8% | ||||||||
Carnival Corp. | 26,000 | 29,219 | ||||||
144A, 7.625%, 3/1/26 | 56,000 | 57,624 | ||||||
144A, 5.75%, 3/1/27 | 137,000 | 133,410 | ||||||
144A, 9.875%, 8/1/27 | 35,000 | 39,337 | ||||||
144A, 4.00%, 8/1/28 | 100,000 | 95,644 | ||||||
144A, 6.00%, 5/1/29 | 78,000 | 75,380 | ||||||
Life Time, Inc. | 40,000 | 39,841 | ||||||
144A, 8.00%, 4/15/26 (a) | 10,000 | 9,994 | ||||||
NCL Corp. Ltd. | 16,000 | 15,020 | ||||||
144A, 5.875%, 3/15/26 | 53,000 | 51,331 | ||||||
144A, 5.875%, 2/15/27 | 39,000 | 39,024 | ||||||
144A, 7.75%, 2/15/29 | 28,000 | 28,875 | ||||||
Royal Caribbean Cruises Ltd. | 21,000 | 19,920 | ||||||
144A, 5.50%, 8/31/26 | 35,000 | 34,711 | ||||||
144A, 5.375%, 7/15/27 | 36,000 | 35,412 | ||||||
3.70%, 3/15/28 (a) | 71,000 | 64,440 | ||||||
144A, 5.50%, 4/1/28 | 18,000 | 17,663 | ||||||
Viking Cruises Ltd. | 26,000 | 28,928 | ||||||
144A, 5.875%, 9/15/27 | 29,000 | 27,076 | ||||||
144A, 7.00%, 2/15/29 | 22,000 | 20,823 | ||||||
|
| |||||||
(Cost $883,444) | 863,672 | |||||||
|
| |||||||
Lodging — 2.5% | ||||||||
Boyd Gaming Corp. | 44,000 | 44,116 | ||||||
144A, 4.75%, 6/15/31 | 35,000 | 34,421 |
Principal | Value | |||||||
Lodging (Continued) | ||||||||
Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand Vacations Borrower Esc | $ | 31,000 | $ | 30,427 | ||||
144A, 4.875%, 7/1/31 | 22,000 | 20,922 | ||||||
Marriott Ownership Resorts, Inc., 144A, | 19,000 | 18,026 | ||||||
Melco Resorts Finance Ltd. | 35,000 | 33,408 | ||||||
144A, 5.25%, 4/26/26 | 19,000 | 17,741 | ||||||
144A, 5.625%, 7/17/27 | 23,000 | 21,500 | ||||||
144A, 5.75%, 7/21/28 | 43,000 | 38,937 | ||||||
144A, 5.375%, 12/4/29 | 38,000 | 33,045 | ||||||
MGM Resorts International | 24,000 | 24,814 | ||||||
4.75%, 10/15/28 | 27,000 | 26,932 | ||||||
Station Casinos LLC | 25,000 | 24,063 | ||||||
144A, 4.625%, 12/1/31 | 18,000 | 16,986 | ||||||
Travel + Leisure Co. | 27,000 | 28,861 | ||||||
6.00%, 4/1/27 | 20,000 | 20,932 | ||||||
144A, 4.50%, 12/1/29 | 23,000 | 22,008 | ||||||
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp. | 78,000 | 79,193 | ||||||
144A, 5.25%, 5/15/27 (a) | 32,000 | 31,718 | ||||||
|
| |||||||
(Cost $593,259) | 568,050 | |||||||
|
| |||||||
Retail — 6.1% | ||||||||
1011778 BC ULC / New Red Finance, Inc. | 35,000 | 34,446 | ||||||
144A, 3.50%, 2/15/29 | 26,000 | 24,553 | ||||||
144A, 4.00%, 10/15/30 | 114,000 | 105,699 | ||||||
Asbury Automotive Group, Inc. | 14,000 | 13,784 | ||||||
144A, 4.625%, 11/15/29 | 38,000 | 37,120 | ||||||
4.75%, 3/1/30 | 16,000 | 15,550 | ||||||
144A, 5.00%, 2/15/32 | 21,000 | 20,417 | ||||||
Bath & Body Works, Inc., 144A, | 35,000 | 37,932 | ||||||
Carvana Co. | 24,000 | 22,824 | ||||||
144A, 5.50%, 4/15/27 | 26,000 | 23,284 | ||||||
144A, 5.875%, 10/1/28 (a) | 18,000 | 16,097 | ||||||
144A, 4.875%, 9/1/29 (a) | 29,000 | 24,270 | ||||||
eG Global Finance PLC | 21,000 | 21,026 | ||||||
144A, 8.50%, 10/30/25 | 27,000 | 27,323 | ||||||
Ferrellgas LP / Ferrellgas Finance Corp. | 23,000 | 21,534 | ||||||
144A, 5.875%, 4/1/29 | 39,000 | 35,892 | ||||||
Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc. | 37,000 | 35,471 | ||||||
144A, 6.75%, 1/15/30 | 50,000 | 47,562 | ||||||
FirstCash, Inc. | 20,000 | 18,907 | ||||||
144A, 5.625%, 1/1/30 | 18,000 | 17,903 |
See Notes to Financial Statements. | 13 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Retail (Continued) | ||||||||
Gap, Inc. | $ | 29,000 | $ | 26,267 | ||||
144A, 3.875%, 10/1/31 | 26,000 | 23,205 | ||||||
IRB Holding Corp., 144A, | 19,000 | 19,161 | ||||||
LBM Acquisition LLC, 144A, | 29,000 | 26,946 | ||||||
LCM Investments Holdings II LLC, 144A, | 36,000 | 34,351 | ||||||
Macy’s Retail Holdings LLC, 144A, | 20,000 | 20,474 | ||||||
Michaels Cos., Inc. | 46,000 | 43,200 | ||||||
144A, 7.875%, 5/1/29 | 45,000 | 39,459 | ||||||
NMG Holding Co, Inc. / Neiman Marcus Group LLC, 144A, | 39,000 | 40,190 | ||||||
Nordstrom, Inc. | 26,000 | 23,730 | ||||||
4.25%, 8/1/31 (a) | 16,000 | 14,350 | ||||||
Party City Holdings, Inc., 144A, | 26,000 | 26,065 | ||||||
PetSmart, Inc. / PetSmart Finance Corp. | 52,000 | 51,944 | ||||||
144A, 7.75%, 2/15/29 | 40,000 | 42,091 | ||||||
QVC, Inc. | 20,000 | 18,632 | ||||||
4.375%, 9/1/28 | 18,000 | 16,342 | ||||||
Rite Aid Corp. | 22,000 | 21,165 | ||||||
144A, 8.00%, 11/15/26 | 39,000 | 37,126 | ||||||
Sonic Automotive, Inc. | 33,000 | 31,378 | ||||||
144A, 4.875%, 11/15/31 | 18,000 | 16,994 | ||||||
SRS Distribution, Inc. | 24,000 | 22,949 | ||||||
144A, 6.125%, 7/1/29 | 23,000 | 22,004 | ||||||
144A, 6.00%, 12/1/29 | 30,000 | 28,427 | ||||||
Staples, Inc. | 85,000 | 84,203 | ||||||
144A, 10.75%, 4/15/27 (a) | 35,000 | 32,701 | ||||||
Suburban Propane Partners LP/Suburban Energy Finance Corp., 144A, | 25,000 | 23,780 | ||||||
|
| |||||||
(Cost $1,455,894) | 1,388,728 | |||||||
|
| |||||||
Consumer, Non-cyclical — 18.1% | ||||||||
Agriculture — 0.2% | ||||||||
Vector Group Ltd. | 20,000 | 20,568 | ||||||
144A, 5.75%, 2/1/29 | 31,000 | 28,652 | ||||||
|
| |||||||
(Cost $52,728) | 49,220 | |||||||
|
| |||||||
Beverages — 0.1% | ||||||||
Primo Water Holdings, Inc., 144A, | ||||||||
(Cost $25,966) | 26,000 | 24,247 | ||||||
|
|
Principal | Value | |||||||
Biotechnology — 0.1% | ||||||||
Grifols Escrow Issuer SA, 144A, | ||||||||
(Cost $25,491) | $ | 27,000 | $ | 25,481 | ||||
|
| |||||||
Commercial Services — 4.1% | ||||||||
ADT Security Corp., 144A, | 53,000 | 50,062 | ||||||
Allied Universal Holdco LLC / Allied Universal Finance Corp. | 68,000 | 69,720 | ||||||
144A, 9.75%, 7/15/27 | 37,000 | 38,702 | ||||||
144A, 6.00%, 6/1/29 (a) | 46,000 | 42,837 | ||||||
Allied Universal Holdco LLC / Allied Universal Finance Corp. / Atlas Luxco 4 SARL, 144A, | 47,000 | 44,689 | ||||||
APX Group, Inc. | 42,000 | 43,171 | ||||||
144A, 5.75%, 7/15/29 | 17,000 | 15,268 | ||||||
Avis Budget Car Rental LLC / Avis Budget Finance, Inc. | 20,000 | 19,167 | ||||||
144A, 5.375%, 3/1/29 (a) | 27,000 | 26,607 | ||||||
CoreCivic, Inc., | 27,000 | 27,456 | ||||||
Garda World Security Corp. | 27,000 | 26,199 | ||||||
144A, 9.50%, 11/1/27 | 21,000 | 21,691 | ||||||
144A, 6.00%, 6/1/29 | 19,000 | 17,265 | ||||||
Hertz Corp. | 18,000 | 17,164 | ||||||
144A, 5.00%, 12/1/29 | 36,000 | 33,626 | ||||||
MPH Acquisition Holdings LLC | 37,000 | 35,955 | ||||||
144A, 5.75%, 11/1/28 (a) | 56,000 | 50,602 | ||||||
Nielsen Finance LLC / Nielsen Finance Co. | 35,000 | 33,574 | ||||||
144A, 4.50%, 7/15/29 | 22,000 | 19,807 | ||||||
144A, 5.875%, 10/1/30 | 27,000 | 25,972 | ||||||
144A, 4.75%, 7/15/31 | 31,000 | 27,701 | ||||||
Prime Security Services Borrower LLC / Prime Finance, Inc. | 45,000 | 46,236 | ||||||
144A, 3.375%, 8/31/27 | 40,000 | 37,063 | ||||||
144A, 6.25%, 1/15/28 | 46,000 | 44,445 | ||||||
Sabre GLBL, Inc. | 27,000 | 30,484 | ||||||
144A, 7.375%, 9/1/25 | 30,000 | 31,125 | ||||||
Service Corp. International, | 28,000 | 26,575 | ||||||
Sotheby’s, 144A, | 25,000 | 26,063 | ||||||
|
| |||||||
(Cost $967,052) | 929,226 | |||||||
|
| |||||||
Cosmetics/Personal Care — 0.3% | ||||||||
Coty, Inc. | 29,000 | 28,960 | ||||||
144A, 6.50%, 4/15/26 (a) | 21,000 | 21,365 |
See Notes to Financial Statements. | 14 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Cosmetics/Personal Care (Continued) | ||||||||
Edgewell Personal Care Co., 144A, | $ | 18,000 | $ | 16,934 | ||||
|
| |||||||
(Cost $68,383) | 67,259 | |||||||
|
| |||||||
Food — 1.6% | ||||||||
B&G Foods, Inc., | 20,000 | 19,963 | ||||||
Lamb Weston Holdings, Inc. | 35,000 | 33,925 | ||||||
144A, 4.375%, 1/31/32 | 34,000 | 33,091 | ||||||
Performance Food Group, Inc., 144A, | 35,000 | 33,435 | ||||||
Post Holdings, Inc. | 45,000 | 45,437 | ||||||
144A, 4.625%, 4/15/30 | 61,000 | 57,562 | ||||||
144A, 4.50%, 9/15/31 | 73,000 | 67,697 | ||||||
Sigma Holdco BV, 144A, | 17,000 | 14,988 | ||||||
US Foods, Inc. | 35,000 | 34,666 | ||||||
144A, 4.625%, 6/1/30 | 16,000 | 15,420 | ||||||
|
| |||||||
(Cost $372,302) | 356,184 | |||||||
|
| |||||||
Healthcare-Products — 1.2% | ||||||||
Mozart Debt Merger Sub, Inc. | 177,000 | 167,303 | ||||||
144A, 5.25%, 10/1/29 (a) | 98,000 | 93,727 | ||||||
|
| |||||||
(Cost $274,090) | 261,030 | |||||||
|
| |||||||
Healthcare-Services — 4.5% | ||||||||
CHS/Community Health Systems, Inc. | 83,000 | 86,230 | ||||||
144A, 5.625%, 3/15/27 | 71,000 | 71,253 | ||||||
144A, 8.00%, 12/15/27 | 27,000 | 28,511 | ||||||
144A, 6.875%, 4/1/28 | 27,000 | 24,988 | ||||||
144A, 6.00%, 1/15/29 | 35,000 | 35,103 | ||||||
144A, 6.875%, 4/15/29 | 65,000 | 63,104 | ||||||
144A, 6.125%, 4/1/30 (a) | 68,000 | 63,324 | ||||||
144A, 5.25%, 5/15/30 | 52,000 | 50,468 | ||||||
144A, 4.75%, 2/15/31 | 45,000 | 42,414 | ||||||
DaVita, Inc. | 106,000 | 101,934 | ||||||
144A, 3.75%, 2/15/31 | 58,000 | 53,088 | �� | |||||
Encompass Health Corp. | 30,000 | 28,464 | ||||||
4.625%, 4/1/31 | 15,000 | 14,177 | ||||||
Envision Healthcare Corp., 144A, | 40,000 | 21,270 | ||||||
Legacy LifePoint Health LLC, 144A, | 30,000 | 28,464 | ||||||
LifePoint Health, Inc., 144A, | 18,000 | 16,669 | ||||||
Radiology Partners, Inc., 144A, | 25,000 | 24,980 | ||||||
RegionalCare Hospital Partners Holdings, Inc. / LifePoint Health, Inc., 144A, | 50,000 | 52,495 |
Principal | Value | |||||||
Healthcare-Services (Continued) | ||||||||
Tenet Healthcare Corp. | $ | 22,000 | $ | 21,535 | ||||
144A, 6.125%, 10/1/28 | 99,000 | 99,646 | ||||||
144A, 4.25%, 6/1/29 | 58,000 | 56,049 | ||||||
144A, 4.375%, 1/15/30 | 51,000 | 49,294 | ||||||
|
| |||||||
(Cost $1,070,247) | 1,033,460 | |||||||
|
| |||||||
Household Products/Wares — 0.3% | ||||||||
Central Garden & Pet Co. | 20,000 | 19,023 | ||||||
144A, 4.125%, 4/30/31 | 12,000 | 11,237 | ||||||
Kronos Acquisition Holdings, Inc. / KIK Custom Products, Inc. | 10,000 | 9,036 | ||||||
144A, 7.00%, 12/31/27 (a) | 23,000 | 19,242 | ||||||
Spectrum Brands, Inc., 144A, | 16,000 | 14,678 | ||||||
|
| |||||||
(Cost $81,921) | 73,216 | |||||||
|
| |||||||
Pharmaceuticals — 5.7% | ||||||||
AdaptHealth LLC | 16,000 | 14,453 | ||||||
144A, 5.125%, 3/1/30 | 23,000 | 21,247 | ||||||
Bausch Health Americas, Inc. | 54,000 | 55,929 | ||||||
144A, 8.50%, 1/31/27 | 50,000 | 50,724 | ||||||
Bausch Health Cos., Inc. | 96,000 | 96,540 | ||||||
144A, 9.00%, 12/15/25 | 60,000 | 61,943 | ||||||
144A, 6.125%, 2/1/27 | 39,000 | 39,372 | ||||||
144A, 5.75%, 8/15/27 | 18,000 | 17,908 | ||||||
144A, 7.00%, 1/15/28 | 11,000 | 10,082 | ||||||
144A, 5.00%, 1/30/28 | 75,000 | 62,940 | ||||||
144A, 4.875%, 6/1/28 | 58,000 | 55,817 | ||||||
144A, 6.25%, 2/15/29 | 90,000 | 76,913 | ||||||
144A, 7.25%, 5/30/29 | 25,000 | 21,922 | ||||||
144A, 5.25%, 1/30/30 | 68,000 | 54,939 | ||||||
144A, 5.25%, 2/15/31 (a) | 35,000 | 27,882 | ||||||
Cheplapharm Arzneimittel GmbH, 144A, | 17,000 | 17,011 | ||||||
Endo Dac / Endo Finance LLC / Endo Finco, Inc. | 40,000 | 39,065 | ||||||
144A, 6.00%, 6/30/28 | 47,000 | 31,099 | ||||||
Endo Luxembourg Finance Co I Sarl / Endo US, Inc., 144A, | 47,000 | 44,131 | ||||||
HLF Financing Sarl LLC / Herbalife International, Inc., 144A, | 20,000 | 18,381 | ||||||
Organon & Co. / Organon Foreign Debt Co.-Issuer BV, 144A, | 80,000 | 79,479 | ||||||
Par Pharmaceutical, Inc., 144A, | 79,000 | 79,091 | ||||||
Prestige Brands, Inc., 144A, | 23,000 | 21,224 |
See Notes to Financial Statements. | 15 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Pharmaceuticals (Continued) | ||||||||
Teva Pharmaceutical Finance Netherlands III BV | $ | 40,000 | $ | 42,053 | ||||
3.15%, 10/1/26 | 125,000 | 113,594 | ||||||
4.75%, 5/9/27 | 36,000 | 34,740 | ||||||
6.75%, 3/1/28 (a) | 50,000 | 52,535 | ||||||
5.125%, 5/9/29 | 46,000 | 44,160 | ||||||
|
| |||||||
(Cost $1,372,669) | 1,285,174 | |||||||
|
| |||||||
Energy — 11.7% | ||||||||
Energy-Alternate Sources — 0.2% | ||||||||
TerraForm Power Operating LLC | 25,000 | 25,108 | ||||||
144A, 4.75%, 1/15/30 | 30,000 | 29,494 | ||||||
|
| |||||||
(Cost $57,234) | 54,602 | |||||||
|
| |||||||
Oil & Gas — 6.7% | ||||||||
Antero Resources Corp. | 19,000 | 20,592 | ||||||
144A, 5.375%, 3/1/30 (a) | 22,000 | 22,452 | ||||||
Ascent Resources Utica Holdings LLC / ARU Finance Corp. | 36,000 | 35,611 | ||||||
144A, 5.875%, 6/30/29 | 14,000 | 13,344 | ||||||
Callon Petroleum Co. | 14,000 | 13,961 | ||||||
144A, 8.00%, 8/1/28 (a) | 24,000 | 24,989 | ||||||
Calumet Specialty Products Partners LP / Calumet Finance Corp., 144A, | 20,000 | 21,084 | ||||||
Chesapeake Energy Corp., 144A, | 34,000 | 35,994 | ||||||
Citgo Holding, Inc., 144A, | 62,000 | 62,420 | ||||||
CITGO Petroleum Corp. | 28,000 | 28,032 | ||||||
144A, 6.375%, 6/15/26 | 35,000 | 34,830 | ||||||
CNX Resources Corp. | 24,000 | 25,260 | ||||||
144A, 6.00%, 1/15/29 | 18,000 | 18,410 | ||||||
Colgate Energy Partners III LLC, 144A, | 25,000 | 25,780 | ||||||
Comstock Resources, Inc. | 52,000 | 52,974 | ||||||
144A, 5.875%, 1/15/30 | 35,000 | 34,013 | ||||||
CrownRock LP / CrownRock Finance, Inc. 144A, 5.625%, 10/15/25 | 64,000 | 64,804 | ||||||
144A, 5.00%, 5/1/29 | 12,000 | 12,228 | ||||||
CVR Energy, Inc. | 32,000 | 31,020 | ||||||
144A, 5.75%, 2/15/28 (a) | 8,000 | 7,551 | ||||||
Hilcorp Energy I LP / Hilcorp Finance Co. 144A, 6.25%, 11/1/28 | 24,000 | 24,508 | ||||||
144A, 5.75%, 2/1/29 | 22,000 | 22,148 | ||||||
144A, 6.00%, 2/1/31 | 25,000 | 25,412 | ||||||
Laredo Petroleum, Inc. | 23,000 | 23,704 | ||||||
144A, 7.75%, 7/31/29 (a) | 13,000 | 12,629 |
Principal | Value | |||||||
Oil & Gas (Continued) | ||||||||
Leviathan Bond Ltd. | $ | 22,000 | $ | 22,638 | ||||
144A, REGS, 6.75%, 6/30/30 | 19,000 | 19,352 | ||||||
Matador Resources Co., | 37,000 | 37,601 | ||||||
MEG Energy Corp. | 35,000 | 36,613 | ||||||
144A, 5.875%, 2/1/29 | 26,000 | 26,320 | ||||||
Moss Creek Resources Holdings, Inc., 144A, | 56,000 | 49,662 | ||||||
Murphy Oil Corp. | 19,000 | 19,381 | ||||||
6.375%, 7/15/28 | 20,000 | 20,749 | ||||||
Nabors Industries Ltd., 144A, | 20,000 | 19,533 | ||||||
Nabors Industries, Inc. | 22,000 | 21,142 | ||||||
144A, 7.375%, 5/15/27 | 25,000 | 25,844 | ||||||
Parkland Corp. | 28,000 | 26,449 | ||||||
144A, 4.625%, 5/1/30 | 38,000 | 35,969 | ||||||
PBF Holding Co. LLC / PBF Finance Corp. 144A, 9.25%, 5/15/25 (a) | 44,000 | 44,575 | ||||||
6.00%, 2/15/28 | 53,000 | 38,866 | ||||||
Puma International Financing SA, 144A, | 50,000 | 49,124 | ||||||
Range Resources Corp. | 21,000 | 23,039 | ||||||
144A, 4.75%, 2/15/30 | 21,000 | 20,584 | ||||||
SM Energy Co. | 16,000 | 17,563 | ||||||
6.75%, 9/15/26 (a) | 22,000 | 22,248 | ||||||
6.625%, 1/15/27 | 27,000 | 27,303 | ||||||
6.50%, 7/15/28 (a) | 11,000 | 11,288 | ||||||
Southwestern Energy Co. | 44,000 | 45,462 | ||||||
4.75%, 2/1/32 | 49,000 | 48,802 | ||||||
Sunoco LP / Sunoco Finance Corp. | 27,000 | 25,921 | ||||||
144A, 4.50%, 4/30/30 | 31,000 | 29,664 | ||||||
Transocean, Inc. | 15,000 | 11,675 | ||||||
144A, 7.50%, 1/15/26 | 20,000 | 15,533 | ||||||
144A, 11.50%, 1/30/27 | 24,000 | 24,045 | ||||||
144A, 8.00%, 2/1/27 | 31,000 | 23,011 | ||||||
|
| |||||||
(Cost $1,536,287) | 1,533,706 | |||||||
|
| |||||||
Oil & Gas Services — 0.9% | ||||||||
Archrock Partners LP / Archrock Partners Finance Corp. | 18,000 | 18,497 | ||||||
144A, 6.25%, 4/1/28 | 27,000 | 27,031 | ||||||
CGG SA, 144A, | 20,000 | 19,538 | ||||||
USA Compression Partners LP / USA Compression Finance Corp. | 25,000 | 25,140 | ||||||
6.875%, 9/1/27 | 27,000 | 27,056 |
See Notes to Financial Statements. | 16 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Oil & Gas Services (Continued) | ||||||||
Weatherford International Ltd. | $ | 18,000 | $ | 18,658 | ||||
144A, 8.625%, 4/30/30 | 66,000 | 67,011 | ||||||
|
| |||||||
(Cost $206,864) | 202,931 | |||||||
|
| |||||||
Pipelines — 3.9% | ||||||||
Antero Midstream Partners LP / Antero Midstream Finance Corp. | 34,000 | 34,557 | ||||||
144A, 5.75%, 1/15/28 | 22,000 | 22,358 | ||||||
144A, 5.375%, 6/15/29 | 26,000 | 26,163 | ||||||
Buckeye Partners LP, 144A, | 18,000 | 17,129 | ||||||
CQP Holdco LP / BIP-V Chinook Holdco LLC, 144A, | 59,000 | 58,779 | ||||||
Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp. 144A, 5.625%, 5/1/27 | 21,000 | 20,879 | ||||||
144A, 6.00%, 2/1/29 | 25,000 | 25,193 | ||||||
144A, 8.00%, 4/1/29 | 22,000 | 23,437 | ||||||
EnLink Midstream LLC, | 15,000 | 14,949 | ||||||
EQM Midstream Partners LP | 31,000 | 32,269 | ||||||
144A, 4.50%, 1/15/29 | 33,000 | 30,870 | ||||||
144A, 4.75%, 1/15/31 | 45,000 | 42,250 | ||||||
Genesis Energy LP / Genesis Energy Finance Corp. | 19,000 | 18,544 | ||||||
8.00%, 1/15/27 | 44,000 | 44,550 | ||||||
7.75%, 2/1/28 (a) | 26,000 | 25,719 | ||||||
Hess Midstream Operations LP, 144A, | 27,000 | 26,108 | ||||||
ITT Holdings LLC, 144A, | 47,000 | 44,132 | ||||||
New Fortress Energy, Inc. | 44,000 | 42,379 | ||||||
144A, 6.50%, 9/30/26 | 63,000 | 60,397 | ||||||
NGL Energy Operating LLC / NGL Energy Finance Corp., 144A, | 79,000 | 79,419 | ||||||
NGL Energy Partners LP / NGL Energy Finance Corp., | 18,000 | 17,308 | ||||||
NuStar Logistics LP | 15,000 | 15,043 | ||||||
6.375%, 10/1/30 | 24,000 | 24,356 | ||||||
Rockies Express Pipeline LLC, 144A, | 19,000 | 18,414 | ||||||
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp. | 15,000 | 15,771 | ||||||
144A, 6.00%, 3/1/27 | 28,000 | 28,046 | ||||||
144A, 5.50%, 1/15/28 | 20,000 | 19,157 | ||||||
144A, 6.00%, 12/31/30 | 36,000 | 34,481 | ||||||
144A, 6.00%, 9/1/31 | 18,000 | 16,994 | ||||||
|
| |||||||
(Cost $905,135) | 879,651 | |||||||
|
|
Principal | Value | |||||||
Financial — 9.6% | ||||||||
Banks — 0.4% | ||||||||
Freedom Mortgage Corp. | $ | 22,000 | $ | 21,986 | ||||
144A, 7.625%, 5/1/26 | 24,000 | 23,085 | ||||||
144A, 6.625%, 1/15/27 | 34,000 | 31,430 | ||||||
Intesa Sanpaolo SpA, 144A, | 27,000 | 24,441 | ||||||
|
| |||||||
(Cost $106,502) | 100,942 | |||||||
|
| |||||||
Diversified Financial Services — 3.5% | ||||||||
Coinbase Global, Inc. | 43,000 | 39,262 | ||||||
144A, 3.625%, 10/1/31 | 38,000 | 33,535 | ||||||
Curo Group Holdings Corp., 144A, | 35,000 | 31,126 | ||||||
Jefferies Finance LLC / JFIN Co.-Issuer Corp., 144A, | 43,000 | 41,459 | ||||||
LD Holdings Group LLC | 11,000 | 10,469 | ||||||
144A, 6.125%, 4/1/28 | 29,000 | 25,917 | ||||||
Midcap Financial Issuer Trust | 36,000 | 35,129 | ||||||
144A, 5.625%, 1/15/30 | 13,000 | 11,887 | ||||||
Nationstar Mortgage Holdings, Inc. | 15,000 | 15,244 | ||||||
144A, 5.50%, 8/15/28 | 30,000 | 29,955 | ||||||
144A, 5.125%, 12/15/30 | 30,000 | 28,160 | ||||||
144A, 5.75%, 11/15/31 | 27,000 | 26,154 | ||||||
Navient Corp. | 29,000 | 30,124 | ||||||
5.00%, 3/15/27 | 28,000 | 27,063 | ||||||
4.875%, 3/15/28 | 18,000 | 16,856 | ||||||
5.50%, 3/15/29 | 26,000 | 24,616 | ||||||
NFP Corp. | 13,000 | 12,430 | ||||||
144A, 6.875%, 8/15/28 | 93,000 | 86,613 | ||||||
OneMain Finance Corp. | 21,000 | 19,484 | ||||||
5.375%, 11/15/29 | 17,000 | 17,128 | ||||||
4.00%, 9/15/30 | 51,000 | 46,548 | ||||||
PennyMac Financial Services, Inc. | 21,000 | 20,919 | ||||||
144A, 4.25%, 2/15/29 | 23,000 | 20,616 | ||||||
144A, 5.75%, 9/15/31 | 23,000 | 21,708 | ||||||
United Wholesale Mortgage LLC | 28,000 | 26,988 | ||||||
144A, 5.75%, 6/15/27 | 18,000 | 17,231 | ||||||
144A, 5.50%, 4/15/29 (a) | 35,000 | 32,085 | ||||||
VistaJet Malta Finance PLC / XO Management Holding, Inc., 144A, | 37,000 | 35,280 | ||||||
|
| |||||||
(Cost $827,821) | 783,986 | |||||||
|
| |||||||
Insurance — 1.1% | ||||||||
Acrisure LLC / Acrisure Finance, Inc. | 56,000 | 55,500 | ||||||
144A, 10.125%, 8/1/26 | 5,000 | 5,304 |
See Notes to Financial Statements. | 17 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Insurance (Continued) | ||||||||
144A, 4.25%, 2/15/29 | $ | 25,000 | $ | 23,530 | ||||
144A, 6.00%, 8/1/29 | 18,000 | 16,259 | ||||||
Alliant Holdings Intermediate LLC / Alliant Holdings Co.-Issuer, 144A, | 31,000 | 29,304 | ||||||
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer | 22,000 | 21,259 | ||||||
144A, 6.75%, 10/15/27 | 50,000 | 48,932 | ||||||
AssuredPartners, Inc. | 18,000 | 17,838 | ||||||
144A, 5.625%, 1/15/29 | 19,000 | 17,508 | ||||||
HUB International Ltd., 144A, | 20,000 | 19,025 | ||||||
|
| |||||||
(Cost $263,008) | 254,459 | |||||||
|
| |||||||
Real Estate — 1.0% | ||||||||
Howard Hughes Corp., 144A, | 30,000 | 28,287 | ||||||
Kennedy-Wilson, Inc. | 28,000 | 27,405 | ||||||
4.75%, 2/1/30 | 28,000 | 26,828 | ||||||
5.00%, 3/1/31 | 18,000 | 17,495 | ||||||
Realogy Group LLC / Realogy Co.-Issuer Corp. | 40,000 | 39,738 | ||||||
144A, 5.25%, 4/15/30 | 37,000 | 35,310 | ||||||
WeWork Cos. LLC / WW Co.-Obligor, Inc., 144A, | 21,000 | 17,679 | ||||||
WeWork Cos., Inc., 144A, | 26,000 | 23,577 | ||||||
|
| |||||||
(Cost $223,336) | 216,319 | |||||||
|
| |||||||
Real Estate Investment Trusts — 3.1% | ||||||||
Apollo Commercial Real Estate Finance, Inc., 144A, | 18,000 | 16,276 | ||||||
Brookfield Property REIT, Inc. / BPR Cumulus LLC / BPR Nimbus LLC / GGSI Sellco LL | 31,000 | 30,645 | ||||||
144A, 4.50%, 4/1/27 | 34,000 | 31,764 | ||||||
Diversified Healthcare Trust | 18,000 | 16,302 | ||||||
4.375%, 3/1/31 | 17,000 | 14,628 | ||||||
Iron Mountain, Inc. | 15,000 | 14,884 | ||||||
144A, 4.875%, 9/15/29 | 39,000 | 37,696 | ||||||
144A, 5.25%, 7/15/30 | 56,000 | 55,522 | ||||||
144A, 4.50%, 2/15/31 | 40,000 | 37,455 | ||||||
144A, 5.625%, 7/15/32 | 26,000 | 25,759 | ||||||
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp. | 27,000 | 26,340 | ||||||
144A, 4.75%, 6/15/29 | 19,000 | 18,440 |
Principal | Value | |||||||
Real Estate Investment Trusts (Continued) | ||||||||
Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co.-Issuer | $ | 17,000 | $ | 17,275 | ||||
144A, 4.875%, 5/15/29 | 34,000 | 32,810 | ||||||
RHP Hotel Properties LP / RHP Finance Corp. | 26,000 | 25,499 | ||||||
144A, 4.50%, 2/15/29 | 26,000 | 24,602 | ||||||
RLJ Lodging Trust LP, 144A, | 20,000 | 18,814 | ||||||
Service Properties Trust | 19,000 | 18,839 | ||||||
7.50%, 9/15/25 | 55,000 | 57,833 | ||||||
5.50%, 12/15/27 | 28,000 | 27,440 | ||||||
3.95%, 1/15/28 | 25,000 | 21,721 | ||||||
4.95%, 10/1/29 | 33,000 | 29,892 | ||||||
4.375%, 2/15/30 | 10,000 | �� | 8,743 | |||||
Uniti Group LP / Uniti Fiber Holdings, Inc. / CSL Capital LLC, 144A, | 25,000 | 22,393 | ||||||
Uniti Group LP / Uniti Group Finance, Inc. / CSL Capital LLC | 20,000 | 19,070 | ||||||
144A, 6.50%, 2/15/29 | 49,000 | 45,491 | ||||||
XHR LP, 144A, | 15,000 | 14,548 | ||||||
|
| |||||||
(Cost $741,032) | 710,681 | |||||||
|
| |||||||
Venture Capital — 0.5% | ||||||||
Compass Group Diversified Holdings LLC, 144A, | 35,000 | 33,874 | ||||||
Icahn Enterprises LP / Icahn Enterprises Finance Corp. | 51,000 | 50,719 | ||||||
4.375%, 2/1/29 | 34,000 | 31,591 | ||||||
|
| |||||||
(Cost $122,231) | 116,184 | |||||||
|
| |||||||
Industrial — 8.7% | ||||||||
Aerospace/Defense — 2.6% | ||||||||
Bombardier, Inc. | 35,000 | 36,263 | ||||||
144A, 7.50%, 3/15/25 | 65,000 | 64,906 | ||||||
144A, 7.125%, 6/15/26 | 42,000 | 41,991 | ||||||
144A, 7.875%, 4/15/27 (a) | 91,000 | 91,626 | ||||||
144A, 6.00%, 2/15/28 | 26,000 | 24,866 | ||||||
Spirit AeroSystems, Inc., | 25,000 | 23,902 | ||||||
TransDigm, Inc. | 37,000 | 37,764 | ||||||
7.50%, 3/15/27 | 40,000 | 41,390 | ||||||
5.50%, 11/15/27 | 122,000 | 121,217 | ||||||
4.625%, 1/15/29 | 15,000 | 14,223 | ||||||
4.875%, 5/1/29 | 35,000 | 33,296 | ||||||
Triumph Group, Inc. | 19,000 | 20,294 |
See Notes to Financial Statements. | 18 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Aerospace/Defense (Continued) | ||||||||
144A, 6.25%, 9/15/24 | $ | 19,000 | $ | 18,877 | ||||
7.75%, 8/15/25 (a) | 18,000 | 18,086 | ||||||
|
| |||||||
(Cost $591,586) | 588,701 | |||||||
|
| |||||||
Building Materials — 1.3% | ||||||||
Builders FirstSource, Inc., 144A, | 56,000 | 53,726 | ||||||
Griffon Corp., | 35,000 | 34,835 | ||||||
JELD-WEN, Inc., 144A, | 16,000 | 15,581 | ||||||
SRM Escrow Issuer LLC, 144A, | 42,000 | 41,952 | ||||||
Standard Industries, Inc. | 35,000 | 34,359 | ||||||
144A, 4.375%, 7/15/30 | 56,000 | 53,107 | ||||||
144A, 3.375%, 1/15/31 | 54,000 | 47,861 | ||||||
Summit Materials LLC / Summit Materials Finance Corp., 144A, | 25,000 | 25,126 | ||||||
|
| |||||||
(Cost $322,620) | 306,547 | |||||||
|
| |||||||
Electrical Components & Equipment — 0.2% | ||||||||
Energizer Holdings, Inc. | 21,000 | 19,973 | ||||||
144A, 4.375%, 3/31/29 (a) | 28,000 | 25,305 | ||||||
|
| |||||||
(Cost $49,551) | 45,278 | |||||||
|
| |||||||
Electronics — 0.5% | ||||||||
II-VI, Inc., 144A, | 35,000 | 34,975 | ||||||
Imola Merger Corp., 144A, | 80,000 | 77,717 | ||||||
|
| |||||||
(Cost $117,181) | 112,692 | |||||||
|
| |||||||
Engineering & Construction — 0.2% | ||||||||
Brand Industrial Services, Inc., 144A, | 35,000 | 32,172 | ||||||
Promontoria Holding 264 BV, 144A, | 16,000 | 15,731 | ||||||
|
| |||||||
(Cost $51,402) | 47,903 | |||||||
|
| |||||||
Environmental Control — 0.9% | ||||||||
Covanta Holding Corp. 144A, | 29,000 | 27,786 | ||||||
5.00%, 9/1/30 | 15,000 | 14,433 | ||||||
GFL Environmental, Inc. | 26,000 | 24,078 | ||||||
144A, 4.75%, 6/15/29 | 31,000 | 29,334 | ||||||
144A, 4.375%, 8/15/29 | 25,000 | 23,252 | ||||||
Madison IAQ LLC | 38,000 | 35,997 | ||||||
144A, 5.875%, 6/30/29 | 37,000 | 33,625 | ||||||
Stericycle, Inc., 144A, | 15,000 | 13,990 | ||||||
|
| |||||||
(Cost $216,157) | 202,495 | |||||||
|
|
Principal | Value | |||||||
Machinery-Diversified — 0.3% | ||||||||
TK Elevator Holdco GmbH, 144A, | $ | 14,000 | $ | 14,259 | ||||
TK Elevator US Newco, Inc., 144A, | 56,000 | 55,508 | ||||||
|
| |||||||
(Cost $73,293) | 69,767 | |||||||
|
| |||||||
Miscellaneous Manufacturing — 0.2% | ||||||||
FXI Holdings, Inc. | 18,000 | 17,752 | ||||||
144A, 12.25%, 11/15/26 | 25,000 | 26,781 | ||||||
|
| |||||||
(Cost $45,159) | 44,533 | |||||||
|
| |||||||
Packaging & Containers — 2.0% | ||||||||
Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC, 144A, | 43,000 | 40,385 | ||||||
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc. | 45,000 | 42,826 | ||||||
144A, 5.25%, 8/15/27 | 28,000 | 26,647 | ||||||
Flex Acquisition Co., Inc. | 24,000 | 24,079 | ||||||
144A, 7.875%, 7/15/26 | 19,000 | 19,613 | ||||||
LABL, Inc. | 25,000 | 25,092 | ||||||
144A, 10.50%, 7/15/27 | 24,000 | 24,644 | ||||||
144A, 5.875%, 11/1/28 | 18,000 | 17,263 | ||||||
144A, 8.25%, 11/1/29 (a) | 21,000 | 19,569 | ||||||
Mauser Packaging Solutions Holding Co. 144A, 5.50%, 4/15/24 | 58,000 | 57,768 | ||||||
144A, 7.25%, 4/15/25 | 52,000 | 51,183 | ||||||
OI European Group BV, 144A, | 14,000 | 13,422 | ||||||
Owens-Brockway Glass Container, Inc., 144A, | 30,000 | 31,157 | ||||||
Pactiv Evergreen Group Issuer Inc/Pactiv Evergreen Group Issuer LLC/Reynolds Gro, 144A, | 40,000 | 37,058 | ||||||
Trivium Packaging Finance BV, 144A, | 27,000 | 27,722 | ||||||
|
| |||||||
(Cost $471,321) | 458,428 | |||||||
|
| |||||||
Transportation — 0.1% | ||||||||
Seaspan Corp., 144A, | ||||||||
(Cost $26,093) | 26,000 | 24,813 | ||||||
|
| |||||||
Trucking & Leasing — 0.4% | ||||||||
Fortress Transportation and Infrastructure Investors LLC | 30,000 | 30,409 | ||||||
144A, 9.75%, 8/1/27 | 14,000 | 15,382 | ||||||
144A, 5.50%, 5/1/28 | 45,000 | 43,056 | ||||||
|
| |||||||
(Cost $89,701) | 88,847 | |||||||
|
|
See Notes to Financial Statements. | 19 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Technology — 4.0% | ||||||||
Computers — 1.4% | ||||||||
Condor Merger Sub, Inc., 144A, | $ | 78,000 | $ | 75,417 | ||||
Diebold Nixdorf, Inc. | 14,000 | 13,812 | ||||||
144A,9.375%, 7/15/25 | 25,000 | 26,063 | ||||||
Exela Intermediate LLC / Exela Finance, Inc., 144A, | 44,000 | 25,960 | ||||||
NCR Corp. | 38,000 | 37,530 | ||||||
144A,5.125%, 4/15/29 | 42,000 | 41,374 | ||||||
144A,6.125%, 9/1/29 | 18,000 | 18,713 | ||||||
144A,5.25%, 10/1/30 | 15,000 | 14,531 | ||||||
Seagate HDD Cayman, | 19,000 | 18,012 | ||||||
Vericast Corp., 144A, | 43,894 | 44,882 | ||||||
|
| |||||||
(Cost $330,365) | 316,294 | |||||||
|
| |||||||
Office/Business Equipment — 0.2% | ||||||||
Pitney Bowes, Inc., 144A, | 14,000 | 13,203 | ||||||
Xerox Holdings Corp., 144A, | 32,000 | 31,976 | ||||||
|
| |||||||
(Cost $47,335) | 45,179 | |||||||
|
| |||||||
Semiconductors — 0.1% | ||||||||
ams-OSRAM AG, 144A, | ||||||||
(Cost $18,784) | 18,000 | 18,676 | ||||||
|
| |||||||
Software — 2.3% | ||||||||
Boxer Parent Co., Inc., 144A, | 21,000 | 21,756 | ||||||
Change Healthcare Holdings LLC / Change Healthcare Finance, Inc., 144A, | 51,000 | 50,758 | ||||||
Clarivate Science Holdings Corp. 144A,3.875%, 7/1/28 | 40,000 | 37,859 | ||||||
144A,4.875%, 7/1/29 | 34,000 | 32,057 | ||||||
MicroStrategy, Inc., 144A, | 19,000 | 18,359 | ||||||
Minerva Merger Sub, Inc., 144A, | 91,000 | 87,737 | ||||||
Open Text Corp., 144A, | 30,000 | 28,359 | ||||||
Open Text Holdings, Inc. | 32,000 | 30,687 | ||||||
144A,4.125%, 12/1/31 | 33,000 | 31,397 | ||||||
Rackspace Technology Global, Inc. 144A,3.50%, 2/15/28 | 33,000 | 29,983 | ||||||
144A,5.375%, 12/1/28 (a) | 13,000 | 11,681 | ||||||
ROBLOX Corp., 144A, | 35,000 | 33,330 | ||||||
Twilio, Inc., | 20,000 | 18,809 |
Principal | Value | |||||||
Software (Continued) | ||||||||
Veritas US, Inc. / Veritas Bermuda Ltd., 144A, | $ | 68,000 | $ | 67,340 | ||||
Ziff Davis, Inc., 144A, | 24,000 | 23,124 | ||||||
|
| |||||||
(Cost $540,674) | 523,236 | |||||||
|
| |||||||
Utilities — 2.2% | ||||||||
Electric — 2.2% | ||||||||
Calpine Corp. | 44,000 | 42,972 | ||||||
144A,5.125%, 3/15/28 | 55,000 | 53,042 | ||||||
144A,4.625%, 2/1/29 | 25,000 | 23,224 | ||||||
144A,5.00%, 2/1/31 | 38,000 | 35,237 | ||||||
144A,3.75%, 3/1/31 | 31,000 | 28,261 | ||||||
Clearway Energy Operating LLC, 144A, | 32,000 | 29,816 | ||||||
NRG Energy, Inc. | 46,000 | 42,371 | ||||||
144A,3.875%, 2/15/32 | 39,000 | 36,237 | ||||||
PG&E Corp. | 40,000 | 39,666 | ||||||
5.25%, 7/1/30 | 38,000 | 37,808 | ||||||
Talen Energy Supply LLC | 21,000 | 8,644 | ||||||
144A,10.50%, 1/15/26 | 23,000 | 10,390 | ||||||
144A,7.25%, 5/15/27 | 33,000 | 29,430 | ||||||
144A,6.625%, 1/15/28 | 36,000 | 31,290 | ||||||
Vistra Operations Co. LLC, 144A, | 44,000 | 42,714 | ||||||
|
| |||||||
(Cost $537,854) | 491,102 | |||||||
|
| |||||||
TOTAL CORPORATE BONDS | ||||||||
(Cost $23,380,005) | 22,355,274 | |||||||
|
| |||||||
Number | ||||||||
SECURITIES LENDING COLLATERAL — 6.9% | ||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (c)(d) | 1,561,891 | 1,561,891 | ||||||
|
| |||||||
CASH EQUIVALENTS — 0.6% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (c) | 131,179 | 131,179 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 105.8% | $ | 24,048,344 | ||||||
Other assets and liabilities, net — (5.8%) | (1,315,597 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 22,732,747 | ||||||
|
|
See Notes to Financial Statements. | 20 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
February 28, 2022 (Unaudited)
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2022 is as follows:
Value ($) at 8/31/2021 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2022 | Value ($) at 2/28/2022 | ||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 6.9% |
| |||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (c)(d) |
| |||||||||||||||||||||||||||||||||||
1,444,823 | 117,068 | (e) | — | — | — | 63 | — | 1,561,891 | 1,561,891 | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.6% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (c) |
| |||||||||||||||||||||||||||||||||||
171,850 | 962,584 | (1,003,255 | ) | — | — | 18 | — | 131,179 | 131,179 | |||||||||||||||||||||||||||
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| |||||||||||||||||||
1,616,673 | 1,079,652 | (1,003,255 | ) | — | — | 81 | — | 1,693,070 | 1,693,070 | |||||||||||||||||||||||||||
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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, 2022 amounted to $1,999,184, which is 8.8% of net assets. |
(b) | Defaulted security or security for which income has been deemed uncollectible. |
(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 $524,247. |
(e) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2022. |
REIT: | Real Estate Investment Trust |
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, 2022 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
Assets | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Corporate Bonds (f) | $ | — | $ | 22,355,274 | $ | — | $ | 22,355,274 | ||||||||
Short-Term Investments (f) | 1,693,070 | — | — | 1,693,070 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 1,693,070 | $ | 22,355,274 | $ | — | $ | 24,048,344 | ||||||||
|
|
|
|
|
|
|
|
(f) | See Schedule of Investments for additional detailed categorizations. |
See Notes to Financial Statements. | 21 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF
February 28, 2022 (Unaudited)
Principal | Value | |||||||
CORPORATE BONDS — 98.5% | ||||||||
Basic Materials — 2.8% | ||||||||
Chemicals — 0.9% | ||||||||
Ashland LLC, 144A, | $ | 1,352,000 | $ | 1,245,963 | ||||
INEOS Quattro Finance 2 PLC, 144A, | 1,444,000 | 1,380,645 | ||||||
NOVA Chemicals Corp. | 2,893,000 | 2,932,692 | ||||||
144A, 5.00%, 5/1/25 | 1,600,000 | 1,618,200 | ||||||
Olin Corp. | 1,444,000 | 1,463,826 | ||||||
5.625%, 8/1/29 (a) | 2,212,000 | 2,311,197 | ||||||
5.00%, 2/1/30 | 1,647,000 | 1,662,243 | ||||||
Tronox, Inc., 144A, | 1,475,000 | 1,533,594 | ||||||
|
| |||||||
(Cost $14,497,962) | 14,148,360 | |||||||
|
| |||||||
Iron/Steel — 0.4% | ||||||||
Cleveland-Cliffs, Inc. | 1,802,000 | 2,002,418 | ||||||
144A, 6.75%, 3/15/26 | 2,507,000 | 2,647,066 | ||||||
5.875%, 6/1/27 | 1,762,000 | 1,817,151 | ||||||
|
| |||||||
(Cost $6,465,873) | 6,466,635 | |||||||
|
| |||||||
Mining — 1.5% | ||||||||
Alcoa Nederland Holding BV | 2,212,000 | 2,308,852 | ||||||
144A, 6.125%, 5/15/28 | 1,547,000 | 1,630,213 | ||||||
144A, 4.125%, 3/31/29 | 1,475,000 | 1,481,258 | ||||||
Arconic Corp. | 2,137,000 | 2,206,453 | ||||||
144A, 6.125%, 2/15/28 | 2,605,000 | 2,667,481 | ||||||
FMG Resources August 2006 Pty Ltd. | 2,212,000 | 2,276,170 | ||||||
144A, 4.50%, 9/15/27 | 1,770,000 | 1,772,974 | ||||||
144A, 4.375%, 4/1/31 | 4,440,000 | 4,315,791 | ||||||
Freeport-McMoRan, Inc., | 1,452,000 | 1,517,594 | ||||||
Novelis Corp., 144A, | 2,212,000 | 2,101,909 | ||||||
|
| |||||||
(Cost $22,626,034) | 22,278,695 | |||||||
|
| |||||||
Communications — 17.0% | ||||||||
Advertising — 0.6% | ||||||||
Clear Channel Outdoor Holdings, Inc., | 3,687,000 | 3,688,106 | ||||||
Lamar Media Corp. | 1,816,000 | 1,747,900 | ||||||
4.00%, 2/15/30 | 1,622,000 | 1,558,556 | ||||||
3.625%, 1/15/31 | 1,622,000 | 1,525,126 | ||||||
Outfront Media Capital LLC / Outfront Media Capital Corp., 144A, | 1,136,000 | 1,177,083 | ||||||
|
| |||||||
(Cost $9,855,111) | 9,696,771 | |||||||
|
|
Principal | Value | |||||||
Internet — 2.0% | ||||||||
Arches Buyer, Inc., 144A, | $ | 2,802,000 | $ | 2,656,422 | ||||
Go Daddy Operating Co. LLC / GD Finance Co., Inc. | 1,728,000 | 1,760,530 | ||||||
144A, 3.50%, 3/1/29 | 2,360,000 | 2,223,828 | ||||||
Match Group Holdings II LLC | 1,340,000 | 1,341,648 | ||||||
144A, 4.625%, 6/1/28 | 1,475,000 | 1,481,977 | ||||||
144A, 4.125%, 8/1/30 (a) | 1,569,000 | 1,521,326 | ||||||
144A, 3.625%, 10/1/31 (a) | 1,394,000 | 1,302,024 | ||||||
NortonLifeLock, Inc., 144A, | 3,245,000 | 3,254,767 | ||||||
Twitter, Inc., 144A, | 2,065,000 | 2,033,612 | ||||||
Uber Technologies, Inc. | 2,950,000 | 3,070,950 | ||||||
144A, 8.00%, 11/1/26 | 4,425,000 | 4,704,815 | ||||||
144A, 7.50%, 9/15/27 | 3,540,000 | 3,765,339 | ||||||
144A, 6.25%, 1/15/28 | 1,475,000 | 1,507,892 | ||||||
|
| |||||||
(Cost $31,054,221) | 30,625,130 | |||||||
|
| |||||||
Media — 7.6% | ||||||||
AMC Networks, Inc. | 1,236,000 | 1,235,852 | ||||||
4.75%, 8/1/25 (a) | 2,321,000 | 2,319,549 | ||||||
Cable One, Inc., 144A, | 1,924,000 | 1,782,086 | ||||||
CCO Holdings LLC / CCO Holdings Capital Corp. | 1,483,000 | 1,482,815 | ||||||
144A, 5.50%, 5/1/26 | 2,225,000 | 2,272,259 | ||||||
144A, 5.125%, 5/1/27 | 9,643,000 | 9,760,934 | ||||||
144A, 5.00%, 2/1/28 | 7,428,000 | 7,455,298 | ||||||
144A, 5.375%, 6/1/29 | 4,450,000 | 4,513,235 | ||||||
144A, 4.75%, 3/1/30 | 9,049,000 | 8,883,992 | ||||||
CSC Holdings LLC | 2,212,000 | 2,238,632 | ||||||
144A, 5.50%, 4/15/27 | 3,864,000 | 3,859,015 | ||||||
144A, 5.375%, 2/1/28 | 2,950,000 | 2,876,250 | ||||||
DISH DBS Corp., | 4,425,000 | 4,478,100 | ||||||
Gray Television, Inc. | 2,065,000 | 2,113,971 | ||||||
144A, 7.00%, 5/15/27 | 2,212,000 | 2,330,762 | ||||||
iHeartCommunications, Inc. | 2,359,874 | 2,436,452 | ||||||
144A, 5.25%, 8/15/27 | 2,207,000 | 2,201,041 | ||||||
News Corp. | 2,967,000 | 2,846,095 | ||||||
144A, 5.125%, 2/15/32 | 1,480,000 | 1,515,683 | ||||||
Nexstar Media, Inc., 144A, | 5,265,000 | 5,386,753 | ||||||
Scripps Escrow II, Inc., 144A, | 1,622,000 | 1,525,694 | ||||||
Sirius XM Radio, Inc. | 2,967,000 | 2,837,521 |
See Notes to Financial Statements. | 22 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Media (Continued) | ||||||||
144A, 5.00%, 8/1/27 | $ | 4,450,000 | $ | 4,499,662 | ||||
144A, 4.00%, 7/15/28 | 5,934,000 | 5,715,035 | ||||||
144A, 5.50%, 7/1/29 | 3,709,000 | 3,798,851 | ||||||
144A, 4.125%, 7/1/30 | 4,440,000 | 4,203,681 | ||||||
TEGNA, Inc., 144A, | 1,634,000 | 1,646,794 | ||||||
Telenet Finance Luxembourg Notes SARL, 144A, | 3,000,000 | 3,000,000 | ||||||
Univision Communications, Inc. | 4,364,000 | 4,397,708 | ||||||
144A, 6.625%, 6/1/27 | 4,425,000 | 4,596,026 | ||||||
UPC Holding BV, 144A, | 1,560,000 | 1,554,002 | ||||||
Videotron Ltd. | 1,681,000 | 1,743,701 | ||||||
144A, 5.125%, 4/15/27 | 1,881,000 | 1,916,438 | ||||||
144A, 3.625%, 6/15/29 | 1,475,000 | 1,405,852 | ||||||
Ziggo Bond Co. BV, 144A, | 1,844,000 | 1,868,995 | ||||||
|
| |||||||
(Cost $119,066,029) | 116,698,734 | |||||||
|
| |||||||
Telecommunications — 6.8% | ||||||||
Altice France SA, 144A, | 5,192,000 | 5,471,070 | ||||||
Hughes Satellite Systems Corp. | 2,206,000 | 2,268,695 | ||||||
6.625%, 8/1/26 (a) | 2,209,000 | 2,303,545 | ||||||
Level 3 Financing, Inc. | 2,459,000 | 2,468,787 | ||||||
5.25%, 3/15/26 | 2,193,000 | 2,199,952 | ||||||
144A, 4.625%, 9/15/27 | 2,950,000 | 2,842,133 | ||||||
Lumen Technologies, Inc. | ||||||||
Series W, 6.75%, 12/1/23 | 2,332,000 | 2,439,738 | ||||||
Series Y, 7.50%, 4/1/24 | 2,950,000 | 3,099,344 | ||||||
5.625%, 4/1/25 | 1,391,000 | 1,384,480 | ||||||
144A, 5.125%, 12/15/26 | 3,751,000 | 3,488,430 | ||||||
144A, 4.00%, 2/15/27 | 3,687,000 | 3,508,549 | ||||||
Nokia OYJ, | 1,475,000 | 1,529,597 | ||||||
Sprint Corp. | 12,610,000 | 13,563,631 | ||||||
7.125%, 6/15/24 | 7,417,000 | 8,035,652 | ||||||
7.625%, 2/15/25 | 4,450,000 | 4,933,937 | ||||||
7.625%, 3/1/26 | 4,493,000 | 5,127,412 | ||||||
Switch Ltd. | 1,733,000 | 1,646,870 | ||||||
144A, 4.125%, 6/15/29 | 1,519,000 | 1,456,675 | ||||||
Telecom Italia SpA, 144A, | 4,425,000 | 4,559,078 | ||||||
T-Mobile USA, Inc. | 2,967,000 | 2,866,552 | ||||||
2.625%, 4/15/26 | 3,540,000 | 3,463,093 | ||||||
5.375%, 4/15/27 | 1,483,000 | 1,529,299 | ||||||
4.75%, 2/1/28 | 4,425,000 | 4,573,127 | ||||||
2.625%, 2/15/29 | 2,950,000 | 2,771,658 | ||||||
3.375%, 4/15/29 | 3,709,000 | 3,640,903 |
Principal | Value | |||||||
Telecommunications (Continued) | ||||||||
2.875%, 2/15/31 | $ | 2,967,000 | $ | 2,788,298 | ||||
3.50%, 4/15/31 | 4,005,000 | 3,936,214 | ||||||
VEON Holdings BV | 1,370,000 | 863,100 | ||||||
144A, 7.25%, 4/26/23 (a) | 2,065,000 | 1,350,562 | ||||||
144A, 4.95%, 6/16/24 | 1,579,000 | 884,240 | ||||||
144A, 4.00%, 4/9/25 | 2,950,000 | 1,283,250 | ||||||
144A, 3.375%, 11/25/27 | 3,687,000 | 1,622,280 | ||||||
|
| |||||||
(Cost $111,734,066) | 103,900,151 | |||||||
|
| |||||||
Consumer, Cyclical — 20.1% | ||||||||
Airlines — 1.3% | ||||||||
Air Canada, 144A, | 3,540,000 | 3,447,553 | ||||||
Delta Air Lines, Inc. | 1,419,000 | 1,431,366 | ||||||
2.90%, 10/28/24 | 2,655,000 | 2,624,441 | ||||||
7.375%, 1/15/26 | 3,187,000 | 3,557,871 | ||||||
4.375%, 4/19/28 (a) | 1,519,000 | 1,521,552 | ||||||
3.75%, 10/28/29 (a) | 1,770,000 | 1,686,279 | ||||||
United Airlines, Inc., 144A, | 5,900,000 | 5,910,384 | ||||||
|
| |||||||
(Cost $20,523,086) | 20,179,446 | |||||||
|
| |||||||
Apparel — 0.6% | ||||||||
Hanesbrands, Inc. | 2,655,000 | 2,694,520 | ||||||
144A, 4.875%, 5/15/26 | 2,655,000 | 2,706,945 | ||||||
Levi Strauss & Co., 144A, | 1,475,000 | 1,376,891 | ||||||
William Carter Co. | 1,475,000 | 1,513,571 | ||||||
144A, 5.625%, 3/15/27 | 1,494,000 | 1,523,932 | ||||||
|
| |||||||
(Cost $10,027,955) | 9,815,859 | |||||||
|
| |||||||
Auto Manufacturers — 4.4% | ||||||||
Allison Transmission, Inc. | 1,276,000 | 1,270,564 | ||||||
144A, 5.875%, 6/1/29 | 1,394,000 | 1,464,641 | ||||||
Ford Motor Co. | 3,187,000 | 3,698,912 | ||||||
4.346%, 12/8/26 | 4,450,000 | 4,555,687 | ||||||
9.625%, 4/22/30 | 1,282,000 | 1,763,833 | ||||||
3.25%, 2/12/32 | 7,417,000 | 7,006,469 | ||||||
Ford Motor Credit Co. LLC | 1,714,000 | 1,728,998 | ||||||
4.375%, 8/6/23 | 1,714,000 | 1,741,638 | ||||||
3.37%, 11/17/23 | 1,714,000 | 1,723,787 | ||||||
3.81%, 1/9/24 | 1,286,000 | 1,302,461 | ||||||
5.584%, 3/18/24 | 2,571,000 | 2,686,129 | ||||||
3.664%, 9/8/24 | 1,374,000 | 1,377,263 | ||||||
4.063%, 11/1/24 | 2,480,000 | 2,519,948 | ||||||
2.30%, 2/10/25 | 2,066,000 | 2,006,716 | ||||||
4.687%, 6/9/25 | 1,028,000 | 1,060,891 | ||||||
5.125%, 6/16/25 | 2,928,000 | 3,044,710 | ||||||
4.134%, 8/4/25 | 2,400,000 | 2,430,000 | ||||||
3.375%, 11/13/25 | 3,599,000 | 3,549,118 |
See Notes to Financial Statements. | 23 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Auto Manufacturers (Continued) | ||||||||
GMTN, 4.389%, 1/8/26 | $ | 2,057,000 | $ | 2,100,876 | ||||
4.542%, 8/1/26 | 1,286,000 | 1,326,316 | ||||||
2.70%, 8/10/26 | 2,571,000 | 2,464,946 | ||||||
4.271%, 1/9/27 | 1,543,000 | 1,557,196 | ||||||
4.125%, 8/17/27 | 2,146,000 | 2,164,992 | ||||||
3.815%, 11/2/27 | 1,286,000 | 1,276,059 | ||||||
2.90%, 2/16/28 | 1,306,000 | 1,238,996 | ||||||
2.90%, 2/10/29 | 1,451,000 | 1,357,411 | ||||||
5.113%, 5/3/29 | 2,549,000 | 2,691,349 | ||||||
4.00%, 11/13/30 | 2,828,000 | 2,810,127 | ||||||
3.625%, 6/17/31 | 1,714,000 | 1,650,818 | ||||||
Jaguar Land Rover Automotive PLC, 144A, | 2,065,000 | 2,178,575 | ||||||
|
| |||||||
(Cost $68,983,478) | 67,749,426 | |||||||
|
| |||||||
Auto Parts & Equipment — 1.3% | ||||||||
American Axle & Manufacturing, Inc. | 1,081,000 | 1,097,799 | ||||||
6.50%, 4/1/27 (a) | 1,539,000 | 1,575,166 | ||||||
Clarios Global LP, 144A, | 1,111,000 | 1,154,140 | ||||||
Clarios Global LP / Clarios US Finance Co., 144A, | 2,693,000 | 2,790,931 | ||||||
Dana Financing Luxembourg SARL, 144A, | 955,000 | 968,165 | ||||||
Dana, Inc. | 1,413,000 | 1,443,033 | ||||||
5.625%, 6/15/28 | 1,098,000 | 1,124,083 | ||||||
Goodyear Tire & Rubber Co. | 2,360,000 | 2,515,170 | ||||||
5.00%, 5/31/26 | 2,505,000 | 2,517,500 | ||||||
4.875%, 3/15/27 | 2,147,000 | 2,149,748 | ||||||
ZF North America Capital, Inc., 144A, | 3,178,000 | 3,229,547 | ||||||
|
| |||||||
(Cost $20,822,852) | 20,565,282 | |||||||
|
| |||||||
Distribution/Wholesale — 0.4% | ||||||||
American Builders & Contractors Supply Co., Inc., 144A, | 2,065,000 | 2,022,007 | ||||||
Avient Corp. | 1,898,000 | 1,947,946 | ||||||
144A, 5.75%, 5/15/25 | 1,833,000 | 1,883,444 | ||||||
|
| |||||||
(Cost $5,920,108) | 5,853,397 | |||||||
|
| |||||||
Entertainment — 4.3% | ||||||||
Banijay Entertainment SASU, 144A, | 1,189,000 | 1,178,299 | ||||||
Caesars Entertainment, Inc. | 10,029,000 | 10,406,742 | ||||||
144A, 8.125%, 7/1/27 (a) | 5,310,000 | 5,713,932 | ||||||
Caesars Resort Collection LLC / CRC Finco, Inc., 144A, | 2,950,000 | 3,028,322 |
Principal | Value | |||||||
Entertainment (Continued) | ||||||||
Cedar Fair LP / Canada’s Wonderland Co. / Magnum Management Corp. / Millennium Op, 144A, | $ | 2,954,000 | $ | 3,039,858 | ||||
Churchill Downs, Inc. | 1,770,000 | 1,798,630 | ||||||
144A, 4.75%, 1/15/28 | 2,065,000 | 2,030,876 | ||||||
International Game Technology PLC | 3,245,000 | 3,451,625 | ||||||
144A, 4.125%, 4/15/26 | 2,313,000 | 2,281,173 | ||||||
144A, 6.25%, 1/15/27 | 2,154,000 | 2,286,126 | ||||||
144A, 5.25%, 1/15/29 | 2,212,000 | 2,259,116 | ||||||
Live Nation Entertainment, Inc. | 1,696,000 | 1,715,979 | ||||||
144A, 6.50%, 5/15/27 | 3,540,000 | 3,794,066 | ||||||
144A, 3.75%, 1/15/28 | 1,480,000 | 1,418,950 | ||||||
Mohegan Gaming & Entertainment, 144A, | 10,000 | 10,298 | ||||||
Scientific Games International, Inc. | 1,727,000 | 1,832,347 | ||||||
144A, 5.00%, 10/15/25 | 3,687,000 | 3,728,368 | ||||||
144A, 8.25%, 3/15/26 | 3,245,000 | 3,382,199 | ||||||
Six Flags Entertainment Corp., 144A, | 2,967,000 | 2,970,382 | ||||||
Six Flags Theme Parks, Inc., 144A, | 2,162,000 | 2,256,577 | ||||||
Vail Resorts, Inc., 144A, | 1,753,000 | 1,807,921 | ||||||
WMG Acquisition Corp. | 1,598,000 | 1,528,870 | ||||||
144A, 3.875%, 7/15/30 | 1,578,000 | 1,517,381 | ||||||
144A, 3.00%, 2/15/31 | 2,360,000 | 2,127,977 | ||||||
|
| |||||||
(Cost $66,325,282) | 65,566,014 | |||||||
|
| |||||||
Food Service — 0.4% | ||||||||
Aramark Services, Inc. | 1,770,000 | 1,786,142 | ||||||
144A, 6.375%, 5/1/25 | 4,442,000 | 4,592,340 | ||||||
|
| |||||||
(Cost $6,393,977) | 6,378,482 | |||||||
|
| |||||||
Home Builders — 0.7% | ||||||||
Century Communities, Inc., | 1,475,000 | 1,528,321 | ||||||
Mattamy Group Corp., 144A, | 1,494,000 | 1,501,485 | ||||||
Meritage Homes Corp. | 1,236,000 | 1,317,823 | ||||||
144A, 3.875%, 4/15/29 | 1,307,000 | 1,279,756 | ||||||
Taylor Morrison Communities, Inc. | 1,399,000 | 1,469,370 | ||||||
144A, 5.75%, 1/15/28 | 1,410,000 | 1,472,371 | ||||||
Williams Scotsman International, Inc., 144A, | 1,480,000 | 1,461,500 | ||||||
|
| |||||||
(Cost $10,258,088) | 10,030,626 | |||||||
|
|
See Notes to Financial Statements. | 24 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Home Furnishings — 0.2% | ||||||||
Tempur Sealy International, Inc., 144A, | $ | 2,360,000 | $ | 2,228,453 | ||||
|
| |||||||
Housewares — 0.8% | ||||||||
Newell Brands, Inc. | 3,225,000 | 3,294,708 | ||||||
4.875%, 6/1/25 | 1,694,000 | 1,784,849 | ||||||
4.70%, 4/1/26 | 5,828,000 | 6,039,557 | ||||||
Scotts Miracle-Gro Co., | 1,217,000 | 1,176,462 | ||||||
|
| |||||||
(Cost $12,495,896) | 12,295,576 | |||||||
|
| |||||||
Leisure Time — 0.7% | ||||||||
Royal Caribbean Cruises Ltd. | 3,027,000 | 3,252,633 | ||||||
144A, 9.125%, 6/15/23 | 2,950,000 | 3,082,602 | ||||||
144A, 11.50%, 6/1/25 | 4,106,000 | 4,543,823 | ||||||
|
| |||||||
(Cost $10,923,717) | 10,879,058 | |||||||
|
| |||||||
Lodging — 1.9% | ||||||||
Hilton Domestic Operating Co., Inc. | 1,475,000 | 1,523,675 | ||||||
144A, 5.75%, 5/1/28 | 1,483,000 | 1,551,522 | ||||||
144A, 3.75%, 5/1/29 | 2,374,000 | 2,294,649 | ||||||
4.875%, 1/15/30 | 2,967,000 | 3,057,509 | ||||||
144A, 4.00%, 5/1/31 | 3,256,000 | 3,186,647 | ||||||
144A, 3.625%, 2/15/32 | 4,440,000 | 4,229,233 | ||||||
Hilton Worldwide Finance LLC / Hilton Worldwide Finance Corp., | 1,780,000 | 1,820,148 | ||||||
MGM Resorts International | 3,610,000 | 3,727,325 | ||||||
6.75%, 5/1/25 | 2,384,000 | 2,470,086 | ||||||
5.75%, 6/15/25 | 1,933,000 | 2,005,488 | ||||||
4.625%, 9/1/26 | 1,184,000 | 1,182,496 | ||||||
Travel + Leisure Co., | 1,136,000 | 1,140,220 | ||||||
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp., 144A, | 1,475,000 | 1,483,865 | ||||||
|
| |||||||
(Cost $29,889,943) | 29,672,863 | |||||||
|
| |||||||
Retail — 2.7% | ||||||||
1011778 BC ULC / New Red Finance, Inc. | 1,551,000 | 1,599,329 | ||||||
144A, 3.875%, 1/15/28 | 4,572,000 | 4,453,585 | ||||||
Bath & Body Works, Inc. | 1,475,000 | 1,530,312 | ||||||
7.50%, 6/15/29 | 1,544,000 | 1,699,141 | ||||||
IRB Holding Corp., 144A, | 2,132,000 | 2,230,051 | ||||||
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC, 144A, | 2,212,000 | 2,270,341 | ||||||
Lithia Motors, Inc. | 1,036,000 | 1,060,538 | ||||||
144A, 3.875%, 6/1/29 | 2,471,000 | 2,438,309 | ||||||
144A, 4.375%, 1/15/31 | 1,624,000 | 1,638,843 |
Principal | Value | |||||||
Retail (Continued) | ||||||||
Murphy Oil USA, Inc. | $ | 1,419,000 | $ | 1,425,052 | ||||
144A, 3.75%, 2/15/31 | 1,519,000 | 1,422,741 | ||||||
Penske Automotive Group, Inc. | 1,530,000 | 1,516,674 | ||||||
3.75%, 6/15/29 | 1,516,000 | 1,418,256 | ||||||
QVC, Inc. | 2,342,000 | 2,385,807 | ||||||
4.85%, 4/1/24 | 1,628,000 | 1,646,266 | ||||||
4.45%, 2/15/25 | 1,778,000 | 1,771,181 | ||||||
Yum! Brands, Inc. | 1,770,000 | 1,845,358 | ||||||
144A, 4.75%, 1/15/30 | 2,360,000 | 2,399,672 | ||||||
3.625%, 3/15/31 | 3,097,000 | 2,898,684 | ||||||
4.625%, 1/31/32 | 3,245,000 | 3,185,130 | ||||||
|
| |||||||
(Cost $41,849,596) | 40,835,270 | |||||||
|
| |||||||
Toys/Games/Hobbies — 0.4% | ||||||||
Mattel, Inc. | 1,753,000 | 1,743,236 | ||||||
144A, 5.875%, 12/15/27 | 1,703,000 | 1,807,292 | ||||||
144A, 3.75%, 4/1/29 (a) | 1,803,000 | 1,808,048 | ||||||
|
| |||||||
(Cost $5,417,932) | 5,358,576 | |||||||
|
| |||||||
Consumer, Non-cyclical — 19.9% | ||||||||
Agriculture — 0.1% | ||||||||
Darling Ingredients, Inc., 144A, | 1,475,000 | 1,502,700 | ||||||
|
| |||||||
Commercial Services — 3.8% | ||||||||
ADT Security Corp., | 2,037,000 | 2,078,351 | ||||||
Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 144A, | 1,136,000 | 1,146,667 | ||||||
Block, Inc. | 2,950,000 | 2,865,350 | ||||||
144A, 3.50%, 6/1/31 (a) | 2,950,000 | 2,774,711 | ||||||
Brink’s Co. | 1,180,000 | 1,208,007 | ||||||
144A, 4.625%, 10/15/27 | 1,770,000 | 1,730,511 | ||||||
Gartner, Inc. | 2,371,000 | 2,404,763 | ||||||
144A, 3.625%, 6/15/29 | 1,780,000 | 1,730,142 | ||||||
144A, 3.75%, 10/1/30 | 2,368,000 | 2,288,779 | ||||||
Grand Canyon University, | 1,444,000 | 1,463,581 | ||||||
Herc Holdings, Inc., 144A, | 3,540,000 | 3,632,925 | ||||||
Nielsen Co. Luxembourg SARL, 144A, | 1,475,000 | 1,488,017 | ||||||
Prime Security Services Borrower LLC / Prime Finance, Inc., 144A, | 2,212,000 | 2,259,149 | ||||||
Ritchie Bros Auctioneers, Inc., 144A, | 1,475,000 | 1,499,928 |
See Notes to Financial Statements. | 25 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Commercial Services (Continued) | ||||||||
RR Donnelley & Sons Co., 144A, | $ | 1,265,000 | $ | 1,348,806 | ||||
Service Corp. International | 2,117,000 | 2,140,837 | ||||||
5.125%, 6/1/29 | 1,942,000 | 1,994,143 | ||||||
3.375%, 8/15/30 | 2,451,000 | 2,256,648 | ||||||
United Rentals North America, Inc. | 2,950,000 | 3,046,745 | ||||||
4.875%, 1/15/28 | 4,924,000 | 5,019,464 | ||||||
5.25%, 1/15/30 | 2,312,000 | 2,408,561 | ||||||
4.00%, 7/15/30 | 2,212,000 | 2,181,585 | ||||||
3.875%, 2/15/31 | 3,245,000 | 3,140,235 | ||||||
3.75%, 1/15/32 | 2,212,000 | 2,110,171 | ||||||
Verscend Escrow Corp., 144A, | 3,245,000 | 3,386,514 | ||||||
|
| |||||||
(Cost $58,550,645) | 57,604,590 | |||||||
|
| |||||||
Cosmetics/Personal Care — 0.1% | ||||||||
Edgewell Personal Care Co., 144A, | 2,212,000 | 2,226,245 | ||||||
|
| |||||||
Food — 3.5% | ||||||||
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC | 2,332,000 | 2,248,048 | ||||||
144A, 7.50%, 3/15/26 | 1,776,000 | 1,884,718 | ||||||
144A, 4.625%, 1/15/27 | 3,982,000 | 4,004,409 | ||||||
144A, 5.875%, 2/15/28 | 2,212,000 | 2,289,708 | ||||||
144A, 3.50%, 3/15/29 | 3,970,000 | 3,700,794 | ||||||
144A, 4.875%, 2/15/30 | 2,950,000 | 2,964,750 | ||||||
B&G Foods, Inc., | 2,655,000 | 2,671,581 | ||||||
Kraft Heinz Foods Co. | 5,637,000 | 5,640,241 | ||||||
3.875%, 5/15/27 | 4,293,000 | 4,461,286 | ||||||
3.75%, 4/1/30 | 1,917,000 | 1,963,583 | ||||||
Lamb Weston Holdings, Inc., 144A, | 1,494,000 | 1,535,720 | ||||||
Performance Food Group, Inc., 144A, | 3,127,000 | 3,185,881 | ||||||
Pilgrim’s Pride Corp. | 2,507,000 | 2,579,665 | ||||||
144A, 4.25%, 4/15/31 | 2,982,000 | 2,885,085 | ||||||
144A, 3.50%, 3/1/32 | 2,630,000 | 2,410,500 | ||||||
Post Holdings, Inc. | 3,833,000 | 3,875,163 | ||||||
144A, 5.625%, 1/15/28 | 2,776,000 | 2,789,394 | ||||||
US Foods, Inc., 144A, | 2,950,000 | 3,056,879 | ||||||
|
| |||||||
(Cost $55,585,144) | 54,147,405 | |||||||
|
| |||||||
Healthcare-Products — 0.9% | ||||||||
Avantor Funding, Inc. | 4,599,000 | 4,673,504 | ||||||
144A, 3.875%, 11/1/29 | 2,368,000 | 2,282,385 | ||||||
Hologic, Inc. | 1,176,000 | 1,215,637 | ||||||
144A, 3.25%, 2/15/29 | 2,802,000 | 2,659,714 |
Principal | Value | |||||||
Healthcare-Products (Continued) | ||||||||
Teleflex, Inc. | $ | 1,475,000 | $ | 1,500,082 | ||||
144A, 4.25%, 6/1/28 | 1,478,000 | 1,462,171 | ||||||
|
| |||||||
(Cost $13,968,308) | 13,793,493 | |||||||
|
| |||||||
Healthcare-Services — 9.1% | ||||||||
Catalent Pharma Solutions, Inc. | 1,475,000 | 1,510,009 | ||||||
144A, 3.125%, 2/15/29 | 1,639,000 | 1,520,181 | ||||||
144A, 3.50%, 4/1/30 | 1,917,000 | 1,787,056 | ||||||
Centene Corp. | 7,367,000 | 7,550,254 | ||||||
2.45%, 7/15/28 | 6,784,000 | 6,400,840 | ||||||
4.625%, 12/15/29 | 10,324,000 | 10,650,806 | ||||||
3.375%, 2/15/30 | 5,892,000 | 5,662,124 | ||||||
3.00%, 10/15/30 | 6,489,000 | 6,195,347 | ||||||
2.50%, 3/1/31 | 6,489,000 | 6,003,915 | ||||||
2.625%, 8/1/31 | 3,835,000 | 3,541,738 | ||||||
Charles River Laboratories International, Inc. | 1,419,000 | 1,408,918 | ||||||
144A, 3.75%, 3/15/29 | 1,519,000 | 1,460,807 | ||||||
144A, 4.00%, 3/15/31 | 1,475,000 | 1,414,341 | ||||||
Encompass Health Corp., | 2,360,000 | 2,300,528 | ||||||
HCA, Inc. | 3,709,000 | 3,861,533 | ||||||
5.375%, 2/1/25 | 7,714,000 | 8,177,843 | ||||||
5.875%, 2/15/26 | 4,450,000 | 4,814,569 | ||||||
5.375%, 9/1/26 | 2,967,000 | 3,196,141 | ||||||
5.625%, 9/1/28 | 4,450,000 | 4,937,876 | ||||||
5.875%, 2/1/29 | 2,967,000 | 3,327,639 | ||||||
3.50%, 9/1/30 | 8,011,000 | 7,942,906 | ||||||
IQVIA, Inc. | 3,097,000 | 3,166,713 | ||||||
144A, 5.00%, 5/15/27 | 3,245,000 | 3,313,534 | ||||||
Legacy LifePoint Health LLC, 144A, | 1,770,000 | 1,834,552 | ||||||
ModivCare, Inc., 144A, | 1,475,000 | 1,482,065 | ||||||
Molina Healthcare, Inc. | 2,374,000 | 2,367,982 | ||||||
144A, 3.875%, 11/15/30 | 1,929,000 | 1,896,930 | ||||||
144A, 3.875%, 5/15/32 | 2,220,000 | 2,157,185 | ||||||
Select Medical Corp., 144A, | 3,613,000 | 3,630,162 | ||||||
Tenet Healthcare Corp. | 5,521,000 | 5,747,747 | ||||||
4.625%, 7/15/24 | 2,285,000 | 2,296,105 | ||||||
144A, 4.625%, 9/1/24 | 1,919,000 | 1,947,113 | ||||||
144A, 4.875%, 1/1/26 | 6,195,000 | 6,218,789 | ||||||
144A, 6.25%, 2/1/27 | 4,425,000 | 4,555,715 | ||||||
144A, 5.125%, 11/1/27 | 4,425,000 | 4,468,808 | ||||||
|
| |||||||
(Cost $141,586,405) | 138,748,771 | |||||||
|
|
See Notes to Financial Statements. | 26 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Household Products/Wares — 0.1% | ||||||||
Spectrum Brands, Inc., | $ | 1,327,000 | $ | 1,351,928 | ||||
|
| |||||||
Pharmaceuticals — 2.3% | ||||||||
Bausch Health Cos., Inc., 144A, | 5,192,000 | 5,211,470 | ||||||
Elanco Animal Health, Inc. | 2,212,000 | 2,281,235 | ||||||
6.40%, 8/28/28 | 2,179,000 | 2,364,869 | ||||||
Jazz Securities DAC, 144A, | 4,440,000 | 4,405,457 | ||||||
Organon & Co. / Organon Foreign Debt Co.-Issuer BV, 144A, | 6,216,000 | 6,124,625 | ||||||
Perrigo Finance Unlimited Co. | 2,065,000 | 2,063,390 | ||||||
4.375%, 3/15/26 | 2,134,000 | 2,141,939 | ||||||
3.90%, 6/15/30 | 2,212,000 | 2,029,705 | ||||||
Prestige Brands, Inc., 144A, | 1,136,000 | 1,138,868 | ||||||
Teva Pharmaceutical Finance Netherlands III BV | 4,289,000 | 4,206,222 | ||||||
6.00%, 4/15/24 | 3,682,000 | 3,752,952 | ||||||
|
| |||||||
(Cost $36,328,398) | 35,720,732 | |||||||
|
| |||||||
Energy — 12.8% | ||||||||
Oil & Gas — 5.8% | ||||||||
Antero Resources Corp., | 1,527,000 | 1,546,087 | ||||||
Apache Corp. | 1,519,000 | 1,570,016 | ||||||
4.375%, 10/15/28 | 2,045,000 | 2,074,019 | ||||||
4.25%, 1/15/30 (a) | 1,710,000 | 1,725,766 | ||||||
Chesapeake Energy Corp. | 1,530,000 | 1,574,133 | ||||||
144A, 5.875%, 2/1/29 | 1,425,000 | 1,476,770 | ||||||
Endeavor Energy Resources LP / EER Finance, Inc. | 1,770,000 | 1,851,942 | ||||||
144A, 5.75%, 1/30/28 | 2,950,000 | 3,059,062 | ||||||
EQT Corp. | 2,950,000 | 3,190,012 | ||||||
144A, 3.125%, 5/15/26 | 1,534,000 | 1,510,530 | ||||||
3.90%, 10/1/27 | 3,687,000 | 3,729,788 | ||||||
7.50%, 2/1/30 | 2,212,000 | 2,642,245 | ||||||
144A, 3.625%, 5/15/31 (a) | 1,475,000 | 1,436,680 | ||||||
Leviathan Bond Ltd. | 1,474,488 | 1,487,896 | ||||||
144A, REGS, 6.125%, 6/30/25 | 1,770,385 | 1,812,653 | ||||||
Murphy Oil Corp., | 1,618,000 | 1,650,344 | ||||||
Occidental Petroleum Corp. | 1,658,000 | 1,800,986 | ||||||
2.90%, 8/15/24 | 2,700,000 | 2,706,534 | ||||||
8.00%, 7/15/25 | 1,445,000 | 1,636,679 | ||||||
5.875%, 9/1/25 | 2,561,000 | 2,750,104 |
Principal | Value | |||||||
Oil & Gas (Continued) | ||||||||
5.50%, 12/1/25 | $ | 2,134,000 | $ | 2,296,045 | ||||
5.55%, 3/15/26 | 3,078,000 | 3,305,880 | ||||||
3.40%, 4/15/26 | 2,223,000 | 2,225,923 | ||||||
3.20%, 8/15/26 | 2,185,000 | 2,188,234 | ||||||
3.00%, 2/15/27 | 1,805,000 | 1,763,151 | ||||||
8.50%, 7/15/27 | 1,384,000 | 1,670,087 | ||||||
6.375%, 9/1/28 | 1,707,000 | 1,931,931 | ||||||
3.50%, 8/15/29 | 4,193,000 | 4,189,541 | ||||||
8.875%, 7/15/30 | 2,890,000 | 3,723,462 | ||||||
6.625%, 9/1/30 | 4,258,000 | 4,961,549 | ||||||
6.125%, 1/1/31 (a) | 3,548,000 | 4,041,278 | ||||||
7.50%, 5/1/31 | 2,468,000 | 2,996,411 | ||||||
7.875%, 9/15/31 | 1,376,000 | 1,704,052 | ||||||
Parkland Corp., 144A, | 1,475,000 | 1,494,669 | ||||||
Range Resources Corp. | 1,570,000 | 1,591,226 | ||||||
4.875%, 5/15/25 | 2,212,000 | 2,243,377 | ||||||
Southwestern Energy Co. | 1,305,000 | 1,383,170 | ||||||
5.375%, 2/1/29 | 2,101,000 | 2,164,051 | ||||||
Sunoco LP / Sunoco Finance Corp., | 1,778,000 | 1,837,661 | ||||||
|
| |||||||
(Cost $89,796,523) | 88,943,944 | |||||||
|
| |||||||
Oil & Gas Services — 0.1% | ||||||||
TechnipFMC PLC, 144A, | 1,867,000 | 1,930,095 | ||||||
|
| |||||||
Pipelines — 6.9% | ||||||||
Antero Midstream Partners LP / Antero Midstream Finance Corp., 144A, | 1,622,000 | 1,745,718 | ||||||
Buckeye Partners LP | 1,475,000 | 1,494,868 | ||||||
144A, 4.125%, 3/1/25 | 1,451,000 | 1,432,906 | ||||||
3.95%, 12/1/26 | 1,878,000 | 1,815,162 | ||||||
4.125%, 12/1/27 | 1,127,000 | 1,066,018 | ||||||
Cheniere Energy Partners LP | 4,524,000 | 4,595,796 | ||||||
4.00%, 3/1/31 | 4,421,000 | 4,361,383 | ||||||
144A, 3.25%, 1/31/32 | 3,540,000 | 3,333,689 | ||||||
Cheniere Energy, Inc., | 5,898,000 | 6,009,118 | ||||||
Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp., | 1,475,000 | 1,486,114 | ||||||
DCP Midstream Operating LP | 1,483,000 | 1,501,486 | ||||||
5.375%, 7/15/25 | 2,525,000 | 2,677,258 | ||||||
5.625%, 7/15/27 | 1,475,000 | 1,586,635 | ||||||
5.125%, 5/15/29 | 1,770,000 | 1,865,961 | ||||||
3.25%, 2/15/32 | 1,180,000 | 1,101,849 | ||||||
DT Midstream, Inc. | 3,245,000 | 3,145,233 | ||||||
144A, 4.375%, 6/15/31 | 2,950,000 | 2,886,560 |
See Notes to Financial Statements. | 27 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Pipelines (Continued) | ||||||||
EnLink Midstream Partners LP | $ | 1,676,000 | $ | 1,708,996 | ||||
4.15%, 6/1/25 | 2,126,000 | 2,131,474 | ||||||
4.85%, 7/15/26 | 1,381,000 | 1,399,961 | ||||||
EQM Midstream Partners LP | 1,669,000 | 1,679,581 | ||||||
4.00%, 8/1/24 | 1,475,000 | 1,447,359 | ||||||
144A, 6.00%, 7/1/25 | 2,134,000 | 2,179,486 | ||||||
4.125%, 12/1/26 | 1,475,000 | 1,411,155 | ||||||
5.50%, 7/15/28 | 2,507,000 | 2,471,426 | ||||||
Hess Midstream Operations LP | 2,358,000 | 2,419,933 | ||||||
144A, 5.125%, 6/15/28 | 1,622,000 | 1,658,657 | ||||||
NuStar Logistics LP | 1,809,000 | 1,886,036 | ||||||
6.00%, 6/1/26 | 1,450,000 | 1,475,129 | ||||||
Rockies Express Pipeline LLC, 144A, | 1,180,000 | 1,157,863 | ||||||
Targa Resources Partners LP / Targa Resources Partners Finance Corp. | 3,079,000 | 3,182,531 | ||||||
5.375%, 2/1/27 | 1,212,000 | 1,246,887 | ||||||
6.50%, 7/15/27 | 2,019,000 | 2,142,825 | ||||||
5.00%, 1/15/28 | 2,066,000 | 2,135,841 | ||||||
6.875%, 1/15/29 | 2,004,000 | 2,184,019 | ||||||
5.50%, 3/1/30 | 2,801,000 | 2,974,606 | ||||||
4.875%, 2/1/31 | 2,950,000 | 3,043,338 | ||||||
4.00%, 1/15/32 | 2,950,000 | 2,917,653 | ||||||
Venture Global Calcasieu Pass LLC | 3,687,000 | 3,615,933 | ||||||
144A, 4.125%, 8/15/31 | 3,687,000 | 3,655,716 | ||||||
144A, 3.875%, 11/1/33 | 3,687,000 | 3,556,130 | ||||||
Western Midstream Operating LP | 2,160,000 | 2,171,999 | ||||||
4.65%, 7/1/26 | 1,399,000 | 1,451,407 | ||||||
4.50%, 3/1/28 | 1,236,000 | 1,285,786 | ||||||
4.75%, 8/15/28 | 1,173,000 | 1,216,055 | ||||||
4.55%, 2/1/30 | 3,540,000 | 3,646,837 | ||||||
|
| |||||||
(Cost $107,579,179) | 105,560,373 | |||||||
|
| |||||||
Financial — 11.6% | ||||||||
Banks — 1.5% | ||||||||
Commerzbank AG, 144A, | 2,950,000 | 3,173,545 | ||||||
Deutsche Bank AG | 1,475,000 | 1,600,705 | ||||||
3.729%, 1/14/32 (b) | 3,687,000 | 3,459,080 | ||||||
3.742%, 1/7/33 (b) | 3,687,000 | 3,453,656 | ||||||
Intesa Sanpaolo SpA | 5,900,000 | 6,080,856 | ||||||
144A, 5.71%, 1/15/26 | 4,425,000 | 4,671,469 | ||||||
|
| |||||||
(Cost $23,029,107) | 22,439,311 | |||||||
|
| |||||||
Diversified Financial Services — 3.3% | ||||||||
Ally Financial, Inc., | 3,097,000 | 3,302,075 |
Principal | Value | |||||||
Diversified Financial Services (Continued) | ||||||||
LPL Holdings, Inc. | $ | 1,180,000 | $ | 1,176,130 | ||||
144A, 4.00%, 3/15/29 | 2,655,000 | 2,582,704 | ||||||
144A, 4.375%, 5/15/31 | 1,180,000 | 1,152,471 | ||||||
Navient Corp. MTN, | 2,507,000 | 2,585,269 | ||||||
5.875%, 10/25/24 | 1,475,000 | 1,527,392 | ||||||
6.75%, 6/25/25 | 1,475,000 | 1,533,801 | ||||||
OneMain Finance Corp. | 2,581,000 | 2,648,622 | ||||||
6.125%, 3/15/24 | 3,835,000 | 3,954,748 | ||||||
6.875%, 3/15/25 | 3,687,000 | 3,938,933 | ||||||
8.875%, 6/1/25 | 1,770,000 | 1,869,607 | ||||||
7.125%, 3/15/26 | 4,820,000 | 5,230,833 | ||||||
3.50%, 1/15/27 | 2,212,000 | 2,095,781 | ||||||
6.625%, 1/15/28 | 2,360,000 | 2,499,830 | ||||||
Rocket Mortgage LLC / Rocket Mortgage Co.-Issuer, Inc. | 3,392,000 | 3,194,043 | ||||||
144A, 3.625%, 3/1/29 | 2,212,000 | 2,075,276 | ||||||
144A, 3.875%, 3/1/31 | 3,687,000 | 3,457,705 | ||||||
144A, 4.00%, 10/15/33 | 2,507,000 | 2,337,552 | ||||||
SLM Corp. | 1,475,000 | 1,484,160 | ||||||
3.125%, 11/2/26 | 1,494,000 | 1,434,038 | ||||||
|
| |||||||
(Cost $51,370,954) | 50,080,970 | |||||||
|
| |||||||
Insurance — 0.7% | ||||||||
HUB International Ltd., 144A, | 4,926,000 | 4,963,930 | ||||||
MGIC Investment Corp., | 1,917,000 | 1,944,720 | ||||||
Radian Group, Inc. | 1,395,000 | 1,410,638 | ||||||
6.625%, 3/15/25 | 1,633,000 | 1,730,955 | ||||||
4.875%, 3/15/27 | 1,235,000 | 1,277,231 | ||||||
|
| |||||||
(Cost $11,504,356) | 11,327,474 | |||||||
|
| |||||||
Real Estate — 0.3% | ||||||||
Howard Hughes Corp. | 2,161,000 | 2,187,062 | ||||||
144A, 4.125%, 2/1/29 | 1,954,000 | 1,850,174 | ||||||
Realogy Group LLC / Realogy Co.-Issuer Corp., 144A, | 1,228,000 | 1,256,956 | ||||||
|
| |||||||
(Cost $5,351,527) | 5,294,192 | |||||||
|
| |||||||
Real Estate Investment Trusts — 5.2% | ||||||||
Blackstone Mortgage Trust, Inc., 144A, | 1,180,000 | 1,116,781 | ||||||
Diversified Healthcare Trust, | 2,950,000 | 3,119,861 | ||||||
HAT Holdings I LLC / HAT Holdings II LLC | 1,147,000 | 1,184,450 | ||||||
144A, 3.375%, 6/15/26 | 2,950,000 | 2,800,376 | ||||||
Iron Mountain, Inc. | 2,889,000 | 2,886,371 | ||||||
144A, 5.25%, 3/15/28 | 2,481,000 | 2,485,962 |
See Notes to Financial Statements. | 28 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Real Estate Investment Trusts (Continued) | ||||||||
iStar, Inc. | $ | 2,286,000 | $ | 2,303,042 | ||||
4.25%, 8/1/25 | 1,609,000 | 1,597,174 | ||||||
5.50%, 2/15/26 | 1,180,000 | 1,209,146 | ||||||
MGM Growth Properties Operating Partnership LP / MGP Finance Co-Issuer, Inc. | 1,858,000 | 1,931,063 | ||||||
144A, 4.625%, 6/15/25 | 2,210,000 | 2,279,792 | ||||||
4.50%, 9/1/26 (a) | 940,000 | 960,045 | ||||||
5.75%, 2/1/27 | 1,559,000 | 1,688,701 | ||||||
144A, 3.875%, 2/15/29 (a) | 2,109,000 | 2,123,341 | ||||||
MPT Operating Partnership LP / MPT Finance Corp. | 1,494,000 | 1,525,568 | ||||||
5.00%, 10/15/27 | 4,130,000 | 4,224,660 | ||||||
4.625%, 8/1/29 | 2,655,000 | 2,669,616 | ||||||
3.50%, 3/15/31 | 3,835,000 | 3,619,243 | ||||||
Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co.-Issuer, 144A, | 1,683,000 | 1,760,738 | ||||||
RLJ Lodging Trust LP, 144A, | 1,475,000 | 1,438,567 | ||||||
SBA Communications Corp. | 4,412,000 | 4,406,816 | ||||||
3.125%, 2/1/29 | 4,420,000 | 4,110,909 | ||||||
Starwood Property Trust, Inc. | 1,274,000 | 1,246,775 | ||||||
4.75%, 3/15/25 | 1,294,000 | 1,308,994 | ||||||
144A, 3.625%, 7/15/26 | 1,249,000 | 1,184,014 | ||||||
144A, 4.375%, 1/15/27 | 1,480,000 | 1,438,868 | ||||||
Uniti Group LP / Uniti Fiber Holdings, Inc. / CSL Capital LLC, 144A, | 6,637,000 | 6,914,261 | ||||||
VICI Properties LP / VICI Note Co., Inc. | 2,047,000 | 2,054,318 | ||||||
144A, 4.25%, 12/1/26 | 3,821,000 | 3,863,509 | ||||||
144A, 3.75%, 2/15/27 | 2,217,000 | 2,204,108 | ||||||
144A, 4.625%, 12/1/29 | 2,950,000 | 3,013,823 | ||||||
144A, 4.125%, 8/15/30 | 2,950,000 | 2,932,344 | ||||||
XHR LP, | 1,444,000 | 1,488,858 | ||||||
|
| |||||||
(Cost $80,267,607) | 79,092,094 | |||||||
|
| |||||||
Venture Capital — 0.6% | ||||||||
Icahn Enterprises LP / Icahn Enterprises Finance Corp. | 3,239,000 | 3,218,481 | ||||||
6.375%, 12/15/25 | 2,202,000 | 2,234,700 | ||||||
6.25%, 5/15/26 | 3,682,000 | 3,713,610 | ||||||
|
| |||||||
(Cost $9,319,090) | 9,166,791 | |||||||
|
| |||||||
Industrial — 7.6% | ||||||||
Aerospace/Defense — 2.3% | ||||||||
Howmet Aerospace, Inc. | 3,392,000 | 3,563,228 | ||||||
6.875%, 5/1/25 | 1,778,000 | 1,960,419 | ||||||
3.00%, 1/15/29 | 2,065,000 | 1,962,679 |
Principal | Value | |||||||
Aerospace/Defense (Continued) | ||||||||
Rolls-Royce PLC | $ | 2,950,000 | $ | 2,884,510 | ||||
144A, 5.75%, 10/15/27 | 2,950,000 | 3,044,356 | ||||||
Spirit AeroSystems, Inc. | 1,475,000 | 1,517,590 | ||||||
144A, 7.50%, 4/15/25 | 3,540,000 | 3,676,290 | ||||||
TransDigm, Inc. | 3,245,000 | 3,392,193 | ||||||
144A, 6.25%, 3/15/26 | 13,079,000 | 13,501,386 | ||||||
|
| |||||||
(Cost $35,799,112) | 35,502,651 | |||||||
|
| |||||||
Building Materials — 0.5% | ||||||||
Builders FirstSource, Inc. | 1,807,000 | 1,881,476 | ||||||
144A, 5.00%, 3/1/30 | 1,622,000 | 1,648,276 | ||||||
JELD-WEN, Inc., 144A, | 1,180,000 | 1,159,674 | ||||||
Standard Industries, Inc., 144A, | 2,507,000 | 2,525,765 | ||||||
|
| |||||||
(Cost $7,321,238) | 7,215,191 | |||||||
|
| |||||||
Electrical Components & Equipment — 0.6% | ||||||||
WESCO Distribution, Inc. | 4,425,000 | 4,642,666 | ||||||
144A, 7.25%, 6/15/28 | 3,908,000 | 4,170,578 | ||||||
|
| |||||||
(Cost $8,842,010) | 8,813,244 | |||||||
|
| |||||||
Electronics — 0.7% | ||||||||
Sensata Technologies BV | 1,475,000 | 1,513,490 | ||||||
144A, 5.625%, 11/1/24 | 1,180,000 | 1,244,664 | ||||||
144A, 5.00%, 10/1/25 | 2,065,000 | 2,137,895 | ||||||
144A, 4.00%, 4/15/29 | 2,950,000 | 2,837,177 | ||||||
Sensata Technologies, Inc. | 1,314,000 | 1,280,079 | ||||||
144A, 3.75%, 2/15/31 | 2,212,000 | 2,060,721 | ||||||
|
| |||||||
(Cost $11,476,058) | 11,074,026 | |||||||
|
| |||||||
Engineering & Construction — 0.1% | ||||||||
Fluor Corp., | 1,770,000 | 1,732,618 | ||||||
|
| |||||||
Environmental Control — 0.6% | ||||||||
GFL Environmental, Inc. | 1,357,000 | 1,356,817 | ||||||
144A, 3.75%, 8/1/25 | 2,389,000 | 2,368,001 | ||||||
144A, 5.125%, 12/15/26 | 1,509,000 | 1,542,485 | ||||||
144A, 3.50%, 9/1/28 (a) | 2,212,000 | 2,115,402 | ||||||
Stericycle, Inc., 144A, | 1,770,000 | 1,811,794 | ||||||
|
| |||||||
(Cost $9,312,982) | 9,194,499 | |||||||
|
| |||||||
Miscellaneous Manufacturing — 0.1% | ||||||||
Hillenbrand, Inc., | ||||||||
(Cost $1,222,143) | 1,180,000 | 1,224,716 | ||||||
|
|
See Notes to Financial Statements. | 29 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Packaging & Containers — 2.5% | ||||||||
Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC, 144A, | $ | 1,770,000 | $ | 1,667,021 | ||||
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc. | 1,998,000 | 2,018,000 | ||||||
144A, 4.125%, 8/15/26 | 3,635,000 | 3,522,897 | ||||||
Ball Corp. | 2,950,000 | 3,016,080 | ||||||
5.25%, 7/1/25 | 2,950,000 | 3,130,393 | ||||||
4.875%, 3/15/26 | 2,242,000 | 2,344,706 | ||||||
2.875%, 8/15/30 | 3,835,000 | 3,511,767 | ||||||
3.125%, 9/15/31 | 2,507,000 | 2,301,226 | ||||||
Berry Global, Inc., 144A, | 1,475,000 | 1,513,180 | ||||||
Graphic Packaging International LLC | 1,315,000 | 1,251,084 | ||||||
144A, 3.75%, 2/1/30 | 1,197,000 | 1,142,285 | ||||||
Owens-Brockway Glass Container, Inc., 144A, | 2,065,000 | 2,103,481 | ||||||
Sealed Air Corp. | 1,261,000 | 1,284,600 | ||||||
144A, 5.125%, 12/1/24 | 1,125,000 | 1,165,708 | ||||||
144A, 5.50%, 9/15/25 | 1,361,000 | 1,427,362 | ||||||
144A, 4.00%, 12/1/27 | 1,254,000 | 1,243,548 | ||||||
Silgan Holdings, Inc., | 1,681,000 | 1,651,465 | ||||||
Trivium Packaging Finance BV, 144A, | 3,097,000 | 3,128,868 | ||||||
|
| |||||||
(Cost $38,384,311) | 37,423,671 | |||||||
|
| |||||||
Transportation — 0.2% | ||||||||
XPO Logistics, Inc., 144A, | 3,448,000 | 3,582,644 | ||||||
|
| |||||||
Technology — 3.9% | ||||||||
Computers — 1.0% | ||||||||
Booz Allen Hamilton, Inc. | 2,065,000 | 2,024,815 | ||||||
144A, 4.00%, 7/1/29 | 1,524,000 | 1,506,261 | ||||||
NCR Corp., 144A, | 1,475,000 | 1,491,631 | ||||||
Seagate HDD Cayman | 1,603,000 | 1,648,982 | ||||||
4.875%, 3/1/24 | 1,584,000 | 1,635,559 | ||||||
4.75%, 1/1/25 | 1,414,000 | 1,458,095 | ||||||
4.875%, 6/1/27 (a) | 1,508,000 | 1,551,935 | ||||||
4.091%, 6/1/29 | 1,483,000 | 1,430,035 | ||||||
3.125%, 7/15/29 | 1,483,000 | 1,353,252 | ||||||
3.375%, 7/15/31 | 1,480,000 | 1,337,099 | ||||||
|
| |||||||
(Cost $15,822,229) | 15,437,664 | |||||||
|
| |||||||
Office/Business Equipment — 0.4% | ||||||||
Xerox Corp., | 2,950,000 | 2,983,261 |
Principal | Value | |||||||
Office/Business Equipment (Continued) | ||||||||
Xerox Holdings Corp., 144A, | $ | 2,242,000 | $ | 2,286,840 | ||||
|
| |||||||
(Cost $5,280,035) | 5,270,101 | |||||||
|
| |||||||
Semiconductors — 0.1% | ||||||||
ON Semiconductor Corp., 144A, | 1,962,000 | 1,947,658 | ||||||
|
| |||||||
Software — 2.4% | ||||||||
Black Knight InfoServ LLC, 144A, | 2,960,000 | 2,809,588 | ||||||
CDK Global, Inc. | 1,475,000 | 1,546,508 | ||||||
4.875%, 6/1/27 | 1,770,000 | 1,814,861 | ||||||
144A, 5.25%, 5/15/29 | 1,458,000 | 1,497,060 | ||||||
Fair Isaac Corp. | 1,286,000 | 1,366,330 | ||||||
144A, 4.00%, 6/15/28 | 2,580,000 | 2,535,830 | ||||||
MSCI, Inc. | 2,914,000 | 2,934,485 | ||||||
144A, 3.625%, 9/1/30 | 2,919,000 | 2,866,925 | ||||||
144A, 3.875%, 2/15/31 | 2,734,000 | 2,725,798 | ||||||
144A, 3.625%, 11/1/31 | 1,770,000 | 1,741,361 | ||||||
144A, 3.25%, 8/15/33 | 2,065,000 | 1,954,502 | ||||||
Open Text Corp., 144A, | 2,655,000 | 2,567,199 | ||||||
PTC, Inc. | 1,544,000 | 1,543,491 | ||||||
144A, 4.00%, 2/15/28 | 1,475,000 | 1,440,625 | ||||||
SS&C Technologies, Inc., 144A, | 5,900,000 | 6,068,858 | ||||||
Twilio, Inc., | 1,475,000 | 1,411,929 | ||||||
|
| |||||||
(Cost $37,577,461) | 36,825,350 | |||||||
|
| |||||||
Utilities — 2.8% | ||||||||
Electric — 2.3% | ||||||||
Calpine Corp., 144A, | 1,239,000 | 1,252,846 | ||||||
Clearway Energy Operating LLC, 144A, | 2,507,000 | 2,524,323 | ||||||
DPL, Inc., | 1,221,000 | 1,216,373 | ||||||
FirstEnergy Corp. | ||||||||
Series B, 4.40%, 7/15/27 | 4,425,000 | 4,581,623 | ||||||
2.65%, 3/1/30 | 1,724,000 | 1,619,129 | ||||||
Series B, 2.25%, 9/1/30 | 1,394,000 | 1,266,860 | ||||||
NextEra Energy Operating Partners LP | 2,065,000 | 2,108,097 | ||||||
144A, 3.875%, 10/15/26 | 1,419,000 | 1,404,342 | ||||||
144A, 4.50%, 9/15/27 | 1,674,000 | 1,685,107 | ||||||
NRG Energy, Inc. | 2,472,000 | 2,530,685 | ||||||
144A, 3.375%, 2/15/29 | 1,548,000 | 1,440,259 | ||||||
144A, 5.25%, 6/15/29 | 2,048,000 | 2,092,984 | ||||||
Vistra Operations Co. LLC | 3,050,000 | 3,101,865 |
See Notes to Financial Statements. | 30 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Electric (Continued) | ||||||||
144A, 5.625%, 2/15/27 | $ | 3,823,000 | $ | 3,921,786 | ||||
144A, 5.00%, 7/31/27 | 3,835,000 | 3,867,943 | ||||||
|
| |||||||
(Cost $35,168,221) | 34,614,222 | |||||||
|
| |||||||
Gas — 0.5% | ||||||||
AmeriGas Partners LP / AmeriGas Finance Corp. | 1,991,000 | 2,033,518 | ||||||
5.50%, 5/20/25 | 2,065,000 | 2,104,018 | ||||||
5.875%, 8/20/26 | 1,991,000 | 2,030,820 | ||||||
5.75%, 5/20/27 | 1,549,000 | 1,567,015 | ||||||
|
| |||||||
(Cost $8,117,247) | 7,735,371 | |||||||
|
| |||||||
TOTAL CORPORATE BONDS | 1,507,747,538 | |||||||
|
|
Number | Value | |||||||
SECURITIES LENDING COLLATERAL — 1.3% | ||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (c)(d) | 20,540,953 | $ | 20,540,953 | |||||
|
| |||||||
CASH EQUIVALENTS — 0.9% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (c) | 13,841,389 | 13,841,389 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 100.7% | $ | 1,542,129,880 | ||||||
Other assets and liabilities, net — (0.7%) | (10,926,864 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 1,531,203,016 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2022 is as follows:
Value ($) at 8/31/2021 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2022 | Value ($) at 2/28/2022 | ||||||||||||||||||||||||||||
CORPORATE BONDS — 0.6% |
| |||||||||||||||||||||||||||||||||||
Financial — 0.6% |
| |||||||||||||||||||||||||||||||||||
Deutsche Bank AG , 3.73% (b) |
| |||||||||||||||||||||||||||||||||||
1,672,217 | 2,022,115 | — | — | (235,252 | ) | 40,950 | — | 3,687,000 | 3,459,080 | |||||||||||||||||||||||||||
Deutsche Bank AG , 5.88% (b) |
| |||||||||||||||||||||||||||||||||||
— | 1,639,302 | — | — | (38,597 | ) | 5,604 | — | 1,475,000 | 1,600,705 | |||||||||||||||||||||||||||
Deutsche Bank AG , 3.74% (b) |
| |||||||||||||||||||||||||||||||||||
— | 3,536,487 | — | — | (82,831 | ) | 8,929 | — | 3,687,000 | 3,453,656 | |||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 1.3% |
| |||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (c)(d) |
| |||||||||||||||||||||||||||||||||||
4,866,433 | 15,674,520 | (e) | — | — | — | 423 | — | 20,540,953 | 20,540,953 | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.9% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (c) |
| |||||||||||||||||||||||||||||||||||
29,654,545 | 114,683,954 | (130,497,110 | ) | — | — | 2,007 | — | 13,841,389 | 13,841,389 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
36,193,195 | 137,556,378 | (130,497,110 | ) | — | (356,680 | ) | 57,913 | — | 43,231,342 | 42,895,783 | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2022 amounted to $29,095,050, which is 1.9% 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 $9,610,830. |
(e) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2022. |
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. | 31 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
February 28, 2022 (Unaudited)
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2022 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
Assets | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Corporate Bonds (f) | $ | — | $ | 1,507,747,538 | $ | — | $ | 1,507,747,538 | ||||||||
Short-Term Investments (f) | 34,382,342 | — | — | 34,382,342 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 34,382,342 | $ | 1,507,747,538 | $ | — | $ | 1,542,129,880 | ||||||||
|
|
|
|
|
|
|
|
(f) | See Schedule of Investments for additional detailed categorizations. |
See Notes to Financial Statements. | 32 |
DBX ETF Trust
Schedule of Investments
Xtrackers Risk Managed USD High Yield Strategy ETF
February 28, 2022 (Unaudited)
Number | Value | |||||||
EXCHANGE-TRADED FUNDS — 99.8% | ||||||||
Xtrackers High Beta High Yield Bond ETF (a) | 14,520 | $ | 661,774 | |||||
Xtrackers USD High Yield Corporate Bond ETF (a) | 743,858 | 28,504,638 | ||||||
|
| |||||||
TOTAL EXCHANGE-TRADED FUNDS | 29,166,412 | |||||||
|
| |||||||
CASH EQUIVALENTS — 0.2% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (b) | 61,597 | 61,597 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 100.0% | $ | 29,228,009 | ||||||
Other assets and liabilities, net — (0.0)% | (1,775 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 29,226,234 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2022 is as follows:
| Value ($) at 2/10/2022 (Commenc- ement of Operations) | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2022 | Value ($) at 2/28/2022 | |||||||||||||||||||||||||||
EXCHANGE-TRADED FUNDS — 99.8% |
| |||||||||||||||||||||||||||||||||||
Xtrackers High Beta High Yield Bond ETF (a) | ||||||||||||||||||||||||||||||||||||
— | 657,658 | — | — | 4,116 | — | — | 14,520 | 661,774 | ||||||||||||||||||||||||||||
Xtrackers USD High Yield Corporate Bond ETF (a) | ||||||||||||||||||||||||||||||||||||
— | 28,315,154 | — | — | 189,484 | — | — | 743,858 | 28,504,638 | ||||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.2% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (b) |
| |||||||||||||||||||||||||||||||||||
— | 61,597 | — | — | — | 1 | — | 61,597 | 61,597 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
— | 29,034,409 | — | — | 193,600 | 1 | — | 819,975 | 29,228,009 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) | Affiliated fund advised by DBX Advisors LLC. |
(b) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
See Notes to Financial Statements. | 33 |
DBX ETF Trust
Schedule of Investments
Xtrackers Risk Managed USD High Yield Strategy ETF (Continued)
February 28, 2022 (Unaudited)
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2022 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
Assets | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Exchange-Traded Funds | $ | 29,166,412 | $ | — | $ | — | $ | 29,166,412 | ||||||||
Short-Term Investments (c) | 61,597 | — | — | 61,597 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 29,228,009 | $ | — | $ | — | $ | 29,228,009 | ||||||||
|
|
|
|
|
|
|
|
(c) | See Schedule of Investments for additional detailed categorizations. |
See Notes to Financial Statements. | 34 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF
February 28, 2022 (Unaudited)
Principal | Value | |||||||
CORPORATE BONDS — 98.6% | ||||||||
Basic Materials — 1.9% | ||||||||
Chemicals — 1.0% | ||||||||
Consolidated Energy Finance SA, 144A, | $ | 150,000 | $ | 150,035 | ||||
INEOS Quattro Finance 2 PLC, 144A, | 115,000 | 109,954 | ||||||
NOVA Chemicals Corp. | 244,000 | 247,348 | ||||||
144A, 5.00%, 5/1/25 | 150,000 | 151,706 | ||||||
TPC Group, Inc., 144A, | 190,000 | 104,500 | ||||||
Tronox, Inc., 144A, | 97,000 | 100,853 | ||||||
|
| |||||||
(Cost $952,104) | 864,396 | |||||||
|
| |||||||
Iron/Steel — 0.2% | ||||||||
Cleveland-Cliffs, Inc. 144A, | 124,000 | 137,791 | ||||||
144A, 6.75%, 3/15/26 | 79,000 | 83,414 | ||||||
|
| |||||||
(Cost $221,166) | 221,205 | |||||||
|
| |||||||
Mining — 0.7% | ||||||||
Arconic Corp., 144A, | 150,000 | 154,875 | ||||||
FMG Resources August 2006 Pty Ltd., 144A, | 170,000 | 174,932 | ||||||
Hudbay Minerals, Inc., 144A, | 85,000 | 82,234 | ||||||
Novelis Corp., 144A, | 200,000 | 190,046 | ||||||
|
| |||||||
(Cost $621,067) | 602,087 | |||||||
|
| |||||||
Communications — 15.8% | ||||||||
Advertising — 0.1% | ||||||||
Outfront Media Capital LLC / Outfront Media Capital Corp., 144A, | ||||||||
(Cost $66,814) | 65,000 | 67,351 | ||||||
|
| |||||||
Internet — 1.5% | ||||||||
NortonLifeLock, Inc. | 376,000 | 373,637 | ||||||
144A, 5.00%, 4/15/25 | 130,000 | 130,391 | ||||||
Photo Holdings Merger Sub, Inc., 144A, | 150,000 | 149,232 | ||||||
Uber Technologies, Inc. | 175,000 | 182,175 | ||||||
144A, 8.00%, 11/1/26 | 450,000 | 478,456 | ||||||
|
| |||||||
(Cost $1,320,061) | 1,313,891 | |||||||
|
| |||||||
Media — 5.6% | ||||||||
AMC Networks, Inc. | 111,000 | 110,987 | ||||||
4.75%, 8/1/25 (b) | 155,000 | 154,903 | ||||||
CCO Holdings LLC / CCO Holdings Capital Corp. | 133,000 | 132,983 | ||||||
144A, 5.50%, 5/1/26 | 100,000 | 102,124 |
Principal | Value | |||||||
Media (Continued) | ||||||||
CSC Holdings LLC | $ | 219,000 | $ | 222,259 | ||||
5.25%, 6/1/24 | 154,000 | 155,854 | ||||||
Diamond Sports Group LLC / Diamond Sports Finance Co., 144A, | 626,000 | 257,737 | ||||||
DISH DBS Corp. | 385,000 | 388,785 | ||||||
5.00%, 3/15/23 | 278,000 | 281,336 | ||||||
5.875%, 11/15/24 | 407,000 | 407,407 | ||||||
7.75%, 7/1/26 | 507,000 | 514,019 | ||||||
144A, 5.25%, 12/1/26 | 590,000 | 579,491 | ||||||
Gray Television, Inc., 144A, | 160,000 | 163,794 | ||||||
iHeartCommunications, Inc., | 130,000 | 134,218 | ||||||
Quebecor Media, Inc., | 157,000 | 159,936 | ||||||
Radiate Holdco LLC / Radiate Finance, Inc., 144A, | 174,000 | 166,461 | ||||||
Sirius XM Radio, Inc., 144A, | 270,000 | 258,217 | ||||||
TEGNA, Inc., 144A, | 102,000 | 102,799 | ||||||
Univision Communications, Inc., 144A, | 337,000 | 339,603 | ||||||
Videotron Ltd., 144A, | 261,000 | 270,735 | ||||||
|
| |||||||
(Cost $5,123,939) | 4,903,648 | |||||||
|
| |||||||
Telecommunications — 8.6% | ||||||||
CommScope Technologies LLC, 144A, | 266,000 | 261,064 | ||||||
CommScope, Inc., 144A, | 355,000 | 362,554 | ||||||
Connect Finco SARL / Connect US Finco LLC, 144A, | 400,000 | 405,400 | ||||||
DKT Finance ApS, 144A, | 200,000 | 201,023 | ||||||
Hughes Satellite Systems Corp. | 125,000 | 128,553 | ||||||
6.625%, 8/1/26 (b) | 160,000 | 166,848 | ||||||
Iliad Holding SASU, 144A, | 250,000 | 249,056 | ||||||
Level 3 Financing, Inc. | 160,000 | 160,637 | ||||||
5.25%, 3/15/26 | 160,000 | 160,507 | ||||||
Lumen Technologies, Inc. | ||||||||
Series T, 5.80%, 3/15/22 | 246,000 | 246,417 | ||||||
Series W, 6.75%, 12/1/23 | 245,000 | 256,319 | ||||||
Series Y, 7.50%, 4/1/24 | 194,000 | 203,821 | ||||||
5.625%, 4/1/25 | 97,000 | 96,545 | ||||||
144A, 5.125%, 12/15/26 | 318,000 | 295,740 | ||||||
144A, 4.00%, 2/15/27 | 200,000 | 190,320 | ||||||
Sprint Communications, Inc., | 457,000 | 470,335 |
See Notes to Financial Statements. | 35 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Telecommunications (Continued) | ||||||||
Sprint Corp. | $ | 993,000 | $ | 1,068,096 | ||||
7.125%, 6/15/24 | 595,000 | 644,629 | ||||||
7.625%, 2/15/25 | 278,000 | 308,233 | ||||||
7.625%, 3/1/26 | 265,000 | 302,418 | ||||||
Telecom Italia SpA, 144A, | 259,000 | 266,848 | ||||||
Telesat Canada / Telesat LLC, 144A, | 130,000 | 95,796 | ||||||
T-Mobile USA, Inc. | 324,000 | 324,162 | ||||||
2.25%, 2/15/26 | 200,000 | 193,229 | ||||||
2.625%, 4/15/26 | 235,000 | 229,895 | ||||||
VEON Holdings BV, 144A, | 445,000 | 193,575 | ||||||
Viasat, Inc., 144A, | 136,000 | 130,099 | ||||||
|
| |||||||
(Cost $8,054,677) | 7,612,119 | |||||||
|
| |||||||
Consumer, Cyclical — 25.4% | ||||||||
Airlines — 2.8% | ||||||||
Air Canada, 144A, | 282,000 | 274,636 | ||||||
American Airlines Group, Inc. | 250,000 | 250,910 | ||||||
144A, 3.75%, 3/1/25 (b) | 97,000 | 90,452 | ||||||
American Airlines, Inc., 144A, | 484,000 | 588,205 | ||||||
Delta Air Lines, Inc. | 115,000 | 116,002 | ||||||
2.90%, 10/28/24 | 245,000 | 242,180 | ||||||
7.375%, 1/15/26 (b) | 284,000 | 317,049 | ||||||
Hawaiian Brand Intellectual Property Ltd. / HawaiianMiles Loyalty Ltd., 144A, | 237,252 | 240,498 | ||||||
United Airlines, Inc., 144A, | 370,000 | 370,651 | ||||||
|
| |||||||
(Cost $2,497,786) | 2,490,583 | |||||||
|
| |||||||
Apparel — 0.5% | ||||||||
Hanesbrands, Inc. | 137,000 | 139,040 | ||||||
144A, 4.875%, 5/15/26 | 172,000 | 175,365 | ||||||
William Carter Co., 144A, | 75,000 | 76,961 | ||||||
|
| |||||||
(Cost $401,821) | 391,366 | |||||||
|
| |||||||
Auto Manufacturers — 4.0% | ||||||||
Ford Motor Co. | 260,000 | 301,762 | ||||||
4.346%, 12/8/26 | 200,000 | 204,750 | ||||||
Ford Motor Credit Co. LLC | 368,000 | 370,521 | ||||||
3.087%, 1/9/23 | 200,000 | 201,498 | ||||||
3.096%, 5/4/23 | 250,000 | 252,188 | ||||||
4.375%, 8/6/23 | 218,000 | 221,515 | ||||||
5.584%, 3/18/24 | 115,000 | 120,150 | ||||||
3.664%, 9/8/24 | 122,000 | 122,290 |
Principal | Value | |||||||
Auto Manufacturers (Continued) | ||||||||
4.063%, 11/1/24 | $ | 200,000 | $ | 203,222 | ||||
4.687%, 6/9/25 | 200,000 | 206,399 | ||||||
5.125%, 6/16/25 | 200,000 | 207,972 | ||||||
4.134%, 8/4/25 | 25,000 | 25,312 | ||||||
3.375%, 11/13/25 | 330,000 | 325,426 | ||||||
GMTN, 4.389%, 1/8/26 | 200,000 | 204,266 | ||||||
2.70%, 8/10/26 | 200,000 | 191,750 | ||||||
Jaguar Land Rover Automotive PLC | 300,000 | 300,205 | ||||||
144A, 7.75%, 10/15/25 | 70,000 | 73,850 | ||||||
|
| |||||||
(Cost $3,560,236) | 3,533,076 | |||||||
|
| |||||||
Auto Parts & Equipment — 1.7% | ||||||||
Adient Global Holdings Ltd., 144A, | 250,000 | 250,679 | ||||||
American Axle & Manufacturing, Inc., | 60,000 | 60,932 | ||||||
Clarios Global LP, 144A, | 134,000 | 139,203 | ||||||
Clarios Global LP / Clarios US Finance Co., 144A, | 165,000 | 171,000 | ||||||
Goodyear Tire & Rubber Co. | 310,000 | 330,383 | ||||||
5.00%, 5/31/26 | 196,000 | 196,978 | ||||||
Tenneco, Inc., | 97,000 | 96,890 | ||||||
ZF North America Capital, Inc., 144A, | 246,000 | 249,990 | ||||||
|
| |||||||
(Cost $1,509,848) | 1,496,055 | |||||||
|
| |||||||
Distribution/Wholesale — 0.6% | ||||||||
Avient Corp. | 67,000 | 68,763 | ||||||
144A, 5.75%, 5/15/25 | 141,000 | 144,880 | ||||||
Wolverine Escrow LLC | 149,000 | 125,406 | ||||||
144A, 9.00%, 11/15/26 (b) | 180,000 | 180,297 | ||||||
|
| |||||||
(Cost $518,645) | 519,346 | |||||||
|
| |||||||
Entertainment — 4.3% | ||||||||
AMC Entertainment Holdings, Inc., 144A, , | 310,000 | 287,289 | ||||||
Banijay Entertainment SASU, 144A, | 125,000 | 123,875 | ||||||
Caesars Entertainment, Inc., 144A, | 709,000 | 735,704 | ||||||
Caesars Resort Collection LLC / CRC Finco, Inc., 144A, | 218,000 | 223,788 | ||||||
Cedar Fair LP / Canada’s Wonderland Co. / Magnum Management Corp. / Millennium Op, 144A, | 192,000 | 197,580 | ||||||
Cinemark USA, Inc., 144A, | 78,000 | 76,908 | ||||||
International Game Technology PLC 144A, | 175,000 | 186,143 |
See Notes to Financial Statements. | 36 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Entertainment (Continued) | ||||||||
144A, 4.125%, 4/15/26 | $ | 220,000 | $ | 216,973 | ||||
144A, 6.25%, 1/15/27 | 200,000 | 212,268 | ||||||
Live Nation Entertainment, Inc., 144A, | 126,000 | 127,484 | ||||||
Mohegan Gaming & Entertainment, 144A, | 248,000 | 250,778 | ||||||
Scientific Games International, Inc. | 52,000 | 55,172 | ||||||
144A, 5.00%, 10/15/25 | 330,000 | 333,703 | ||||||
144A, 8.25%, 3/15/26 | 225,000 | 234,513 | ||||||
Six Flags Entertainment Corp., 144A, | 315,000 | 315,359 | ||||||
Six Flags Theme Parks, Inc., 144A, | 134,000 | 139,862 | ||||||
Vail Resorts, Inc., | 50,000 | 51,567 | ||||||
|
| |||||||
(Cost $3,807,276) | 3,768,966 | |||||||
|
| |||||||
Food Service — 0.5% | ||||||||
Aramark Services, Inc., 144A, | 410,000 | 423,876 | ||||||
|
| |||||||
Home Builders — 0.2% | ||||||||
Meritage Homes Corp., | 164,000 | 174,857 | ||||||
|
| |||||||
Housewares — 0.9% | ||||||||
Newell Brands, Inc. | 189,000 | 193,085 | ||||||
4.875%, 6/1/25 | 68,000 | 71,647 | ||||||
4.70%, 4/1/26 | 505,000 | 523,332 | ||||||
|
| |||||||
(Cost $812,372) | 788,064 | |||||||
|
| |||||||
Leisure Time — 3.4% | ||||||||
Carnival Corp. | 150,000 | 168,568 | ||||||
144A, 7.625%, 3/1/26 | 329,000 | 338,539 | ||||||
Life Time, Inc. | 179,000 | 178,288 | ||||||
144A, 8.00%, 4/15/26 | 100,000 | 99,938 | ||||||
NCL Corp. Ltd. | 300,000 | 281,630 | ||||||
144A, 5.875%, 3/15/26 | 200,000 | 193,700 | ||||||
144A, 5.875%, 2/15/27 | 200,000 | 200,125 | ||||||
Royal Caribbean Cruises Ltd. | 155,000 | 156,336 | ||||||
144A, 10.875%, 6/1/23 | 194,000 | 208,461 | ||||||
144A, 9.125%, 6/15/23 | 185,000 | 193,316 | ||||||
144A, 11.50%, 6/1/25 | 358,000 | 396,174 | ||||||
144A, 4.25%, 7/1/26 | 110,000 | 104,344 | ||||||
144A, 5.50%, 8/31/26 | 300,000 | 297,524 | ||||||
Viking Cruises Ltd., 144A, | 152,000 | 169,116 | ||||||
|
| |||||||
(Cost $3,015,992) | 2,986,059 | |||||||
|
| |||||||
Lodging — 2.8% | ||||||||
Hilton Domestic Operating Co., Inc., 144A, | 81,000 | 83,673 |
Principal | Value | |||||||
Lodging (Continued) | ||||||||
Melco Resorts Finance Ltd. | $ | 200,000 | $ | 190,900 | ||||
144A, 5.25%, 4/26/26 | 215,000 | 200,756 | ||||||
MGM Resorts International | 345,000 | 346,116 | ||||||
6.00%, 3/15/23 | 232,000 | 239,540 | ||||||
6.75%, 5/1/25 | 91,000 | 94,286 | ||||||
5.75%, 6/15/25 (b) | 192,000 | 199,200 | ||||||
4.625%, 9/1/26 | 120,000 | 119,848 | ||||||
Travel + Leisure Co. | 77,000 | 77,286 | ||||||
144A, 6.625%, 7/31/26 | 126,000 | 134,684 | ||||||
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp. | 323,000 | 324,941 | ||||||
144A, 5.50%, 3/1/25 | 394,000 | 400,028 | ||||||
|
| |||||||
(Cost $2,439,658) | 2,411,258 | |||||||
|
| |||||||
Retail — 3.6% | ||||||||
1011778 BC ULC / New Red Finance, Inc., 144A, | 147,000 | 151,581 | ||||||
Carvana Co., 144A, | 165,000 | 156,915 | ||||||
eG Global Finance PLC | 200,000 | 200,251 | ||||||
144A, 8.50%, 10/30/25 | 90,000 | 91,078 | ||||||
Ferrellgas LP / Ferrellgas Finance Corp., 144A, | 126,000 | 117,970 | ||||||
IRB Holding Corp., 144A, | 337,000 | 352,499 | ||||||
Macy’s Retail Holdings LLC, | 171,000 | 171,000 | ||||||
NMG Holding Co, Inc. / Neiman Marcus Group LLC, 144A, | 204,000 | 210,222 | ||||||
Party City Holdings, Inc., 144A, | 130,000 | 130,325 | ||||||
Penske Automotive Group, Inc., | 150,000 | 148,693 | ||||||
QVC, Inc. | 139,000 | 141,600 | ||||||
4.85%, 4/1/24 | 116,000 | 117,302 | ||||||
4.45%, 2/15/25 | 116,000 | 115,555 | ||||||
4.75%, 2/15/27 | 50,000 | 46,581 | ||||||
Rite Aid Corp. | 220,000 | 211,645 | ||||||
144A, 8.00%, 11/15/26 | 185,000 | 176,112 | ||||||
Staples, Inc., 144A, | 500,000 | 495,312 | ||||||
Yum! Brands, Inc., 144A, | 125,000 | 130,322 | ||||||
|
| |||||||
(Cost $3,221,439) | 3,164,963 | |||||||
|
| |||||||
Toys/Games/Hobbies — 0.1% | ||||||||
Mattel, Inc., 144A, | 118,000 | 117,343 | ||||||
|
|
See Notes to Financial Statements. | 37 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Consumer, Non-cyclical — 15.0% | ||||||||
Agriculture — 0.1% | ||||||||
Vector Group Ltd., 144A, | $ | 110,000 | $ | 113,125 | ||||
|
| |||||||
Commercial Services — 2.8% | ||||||||
ADT Security Corp., | 218,000 | 222,425 | ||||||
Allied Universal Holdco LLC / Allied Universal Finance Corp., 144A, | 359,000 | 368,083 | ||||||
Block, Inc., 144A, | 230,000 | 223,400 | ||||||
CoreCivic, Inc., | 140,000 | 142,365 | ||||||
Garda World Security Corp., 144A, | 125,000 | 121,293 | ||||||
Grand Canyon University, | 115,000 | 116,559 | ||||||
Hertz Corp., 144A, | 100,000 | 95,357 | ||||||
Nielsen Co. Luxembourg SARL, 144A, | 132,000 | 133,165 | ||||||
Prime Security Services Borrower LLC / Prime Finance, Inc. | 112,000 | 114,387 | ||||||
144A, 5.75%, 4/15/26 | 243,000 | 249,674 | ||||||
Ritchie Bros Auctioneers, Inc., 144A, | 100,000 | 101,690 | ||||||
RR Donnelley & Sons Co., 144A, | 179,000 | 190,859 | ||||||
Sabre GLBL, Inc. | 189,000 | 213,390 | ||||||
144A, 7.375%, 9/1/25 | 167,000 | 173,263 | ||||||
|
| |||||||
(Cost $2,502,880) | 2,465,910 | |||||||
|
| |||||||
Cosmetics/Personal Care — 0.3% | ||||||||
Coty, Inc. | 174,000 | 173,763 | ||||||
144A, 6.50%, 4/15/26 (b) | 127,000 | 129,206 | ||||||
|
| |||||||
(Cost $304,912) | 302,969 | |||||||
|
| |||||||
Food — 2.0% | ||||||||
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC | 117,000 | 117,455 | ||||||
144A, 3.25%, 3/15/26 | 195,000 | 187,980 | ||||||
144A, 7.50%, 3/15/26 | 150,000 | 159,182 | ||||||
144A, 4.625%, 1/15/27 | 280,000 | 281,576 | ||||||
B&G Foods, Inc., | 220,000 | 221,374 | ||||||
Kraft Heinz Foods Co., | 390,000 | 390,224 | ||||||
Sigma Holdco BV, 144A, | 105,000 | 92,572 | ||||||
US Foods, Inc., 144A, | 269,000 | 278,746 | ||||||
|
| |||||||
(Cost $1,768,457) | 1,729,109 | |||||||
|
|
Principal | Value | |||||||
Healthcare-Services — 4.9% | ||||||||
CHS/Community Health Systems, Inc., 144A, | $ | 457,000 | $ | 474,786 | ||||
Envision Healthcare Corp., 144A, | 245,000 | 130,276 | ||||||
HCA, Inc. | 232,000 | 241,541 | ||||||
5.375%, 2/1/25 | 522,000 | 553,388 | ||||||
5.875%, 2/15/26 | 328,000 | 354,872 | ||||||
5.375%, 9/1/26 | 250,000 | 269,307 | ||||||
IQVIA, Inc., 144A, | 225,000 | 230,065 | ||||||
Legacy LifePoint Health LLC | 136,000 | 140,960 | ||||||
144A, 4.375%, 2/15/27 | 150,000 | 142,321 | ||||||
ModivCare, Inc., 144A, | 120,000 | 120,575 | ||||||
RegionalCare Hospital Partners Holdings, Inc. / LifePoint Health, Inc., 144A, | 100,000 | 104,990 | ||||||
Select Medical Corp., 144A, | 277,000 | 278,316 | ||||||
Tenet Healthcare Corp. | 357,000 | 371,662 | ||||||
4.625%, 7/15/24 | 90,000 | 90,437 | ||||||
144A, 4.625%, 9/1/24 | 131,000 | 132,919 | ||||||
144A, 4.875%, 1/1/26 | 539,000 | 541,070 | ||||||
144A, 6.25%, 2/1/27 | 100,000 | 102,954 | ||||||
|
| |||||||
(Cost $4,360,510) | 4,280,439 | |||||||
|
| |||||||
Household Products/Wares — 0.1% | ||||||||
Kronos Acquisition Holdings, Inc. / KIK Custom Products, Inc., 144A, | 101,000 | 91,268 | ||||||
|
| |||||||
Pharmaceuticals — 4.8% | ||||||||
Bausch Health Americas, Inc. | 300,000 | 310,719 | ||||||
144A, 8.50%, 1/31/27 | 400,000 | 405,792 | ||||||
Bausch Health Cos., Inc. | 513,000 | 515,886 | ||||||
144A, 5.50%, 11/1/25 | 328,000 | 329,230 | ||||||
144A, 9.00%, 12/15/25 | 291,000 | 300,424 | ||||||
144A, 6.125%, 2/1/27 | 150,000 | 151,432 | ||||||
Elanco Animal Health, Inc., | 147,000 | 151,601 | ||||||
Perrigo Finance Unlimited Co. | 100,000 | 99,922 | ||||||
4.375%, 3/15/26 | 200,000 | 200,744 | ||||||
Teva Pharmaceutical Finance Co. BV, | 189,000 | 188,783 | ||||||
Teva Pharmaceutical Finance Netherlands III BV | 297,000 | 291,268 | ||||||
6.00%, 4/15/24 | 190,000 | 193,661 | ||||||
7.125%, 1/31/25 | 386,000 | 405,813 | ||||||
3.15%, 10/1/26 | 706,000 | 641,577 | ||||||
|
| |||||||
(Cost $4,248,312) | 4,186,852 | |||||||
|
|
See Notes to Financial Statements. | 38 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Energy — 13.4% | ||||||||
Energy-Alternate Sources — 0.3% | ||||||||
TerraForm Power Operating LLC, 144A, | $ | 271,000 | $ | 271,660 | ||||
|
| |||||||
Oil & Gas — 7.9% | ||||||||
Antero Resources Corp., | 100,000 | 101,250 | ||||||
Apache Corp., | 100,000 | 103,358 | ||||||
Ascent Resources Utica Holdings LLC / ARU Finance Corp., 144A, | 120,000 | 118,704 | ||||||
Callon Petroleum Co., | 88,000 | 87,758 | ||||||
Calumet Specialty Products Partners LP / Calumet Finance Corp., 144A, | 200,000 | 210,844 | ||||||
Chesapeake Energy Corp., 144A, | 130,000 | 133,750 | ||||||
Citgo Holding, Inc., 144A, | 251,000 | 252,699 | ||||||
CITGO Petroleum Corp., 144A, | 418,000 | 418,479 | ||||||
CrownRock LP / CrownRock Finance, Inc., 144A, | 230,000 | 232,890 | ||||||
CVR Energy, Inc., 144A, | 27,000 | 26,173 | ||||||
Endeavor Energy Resources LP / EER Finance, Inc., 144A, | 116,000 | 121,370 | ||||||
EQT Corp. | 174,000 | 188,157 | ||||||
144A, 3.125%, 5/15/26 | 91,000 | 89,608 | ||||||
Laredo Petroleum, Inc., | 169,000 | 174,176 | ||||||
Leviathan Bond Ltd. | 87,000 | 87,791 | ||||||
144A, REGS, 6.125%, 6/30/25 | 208,000 | 212,966 | ||||||
Matador Resources Co., | 310,000 | 315,037 | ||||||
MEG Energy Corp., 144A, | 250,000 | 261,525 | ||||||
Moss Creek Resources Holdings, Inc., 144A, | 186,000 | 164,948 | ||||||
Murphy Oil Corp., | 100,000 | 101,999 | ||||||
Nabors Industries Ltd., 144A, | 110,000 | 107,430 | ||||||
Nabors Industries, Inc., | 119,000 | 114,359 | ||||||
Occidental Petroleum Corp. | 150,000 | 162,936 | ||||||
2.90%, 8/15/24 | 256,000 | 256,620 | ||||||
8.00%, 7/15/25 | 50,000 | 56,632 | ||||||
5.875%, 9/1/25 | 264,000 | 283,494 |
Principal | Value | |||||||
Oil & Gas (Continued) | ||||||||
5.50%, 12/1/25 | $ | 100,000 | $ | 107,593 | ||||
5.55%, 3/15/26 | 194,000 | 208,363 | ||||||
3.40%, 4/15/26 | 175,000 | 175,230 | ||||||
3.20%, 8/15/26 | 150,000 | 150,222 | ||||||
3.00%, 2/15/27 | 150,000 | 146,522 | ||||||
PBF Holding Co. LLC / PBF Finance Corp. 144A, | 282,000 | 285,683 | ||||||
7.25%, 6/15/25 (b) | 130,000 | 109,436 | ||||||
Puma International Financing SA | 200,000 | 196,494 | ||||||
144A, 5.00%, 1/24/26 | 200,000 | 196,272 | ||||||
Range Resources Corp. | 197,000 | 199,663 | ||||||
4.875%, 5/15/25 | 151,000 | 153,142 | ||||||
SM Energy Co. | 174,000 | 190,998 | ||||||
6.625%, 1/15/27 (b) | 100,000 | 101,121 | ||||||
Transocean, Inc. | 136,000 | 105,858 | ||||||
144A, 7.50%, 1/15/26 | 111,000 | 86,206 | ||||||
144A, 11.50%, 1/30/27 | 140,000 | 140,263 | ||||||
|
| |||||||
(Cost $6,805,089) | 6,938,019 | |||||||
|
| |||||||
Oil & Gas Services — 0.4% | ||||||||
TechnipFMC PLC, 144A, | 109,000 | 112,684 | ||||||
USA Compression Partners LP / USA Compression Finance Corp., | 212,000 | 213,190 | ||||||
|
| |||||||
(Cost $332,271) | 325,874 | |||||||
|
| |||||||
Pipelines — 4.8% | ||||||||
Antero Midstream Partners LP / Antero Midstream Finance Corp., 144A, | 75,000 | 80,721 | ||||||
Buckeye Partners LP | 68,000 | 68,916 | ||||||
144A, 4.125%, 3/1/25 | 98,000 | 96,778 | ||||||
3.95%, 12/1/26 | 203,000 | 196,208 | ||||||
Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp., | 50,000 | 50,377 | ||||||
DCP Midstream Operating LP | 73,000 | 73,910 | ||||||
5.375%, 7/15/25 | 162,000 | 171,768 | ||||||
EnLink Midstream Partners LP | 180,000 | 183,544 | ||||||
4.15%, 6/1/25 | 50,000 | 50,129 | ||||||
4.85%, 7/15/26 | 166,000 | 168,279 | ||||||
EQM Midstream Partners LP | 100,000 | 100,634 | ||||||
4.00%, 8/1/24 | 25,000 | 24,531 | ||||||
144A, 6.00%, 7/1/25 | 170,000 | 173,623 | ||||||
4.125%, 12/1/26 | 120,000 | 114,806 | ||||||
Genesis Energy LP / Genesis Energy Finance Corp. | 110,000 | 107,363 |
See Notes to Financial Statements. | 39 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Pipelines (Continued) | ||||||||
8.00%, 1/15/27 | $ | 210,000 | $ | 212,625 | ||||
Hess Midstream Operations LP, 144A, | 147,000 | 150,861 | ||||||
New Fortress Energy, Inc. | 282,000 | 271,612 | ||||||
144A, 6.50%, 9/30/26 | 310,000 | 297,192 | ||||||
NGL Energy Operating LLC / NGL Energy Finance Corp., 144A, | 420,000 | 422,226 | ||||||
NGL Energy Partners LP / NGL Energy Finance Corp., | 116,000 | 111,539 | ||||||
NuStar Logistics LP | 131,000 | 136,579 | ||||||
6.00%, 6/1/26 | 150,000 | 152,599 | ||||||
Rockies Express Pipeline LLC, 144A, | 54,000 | 52,987 | ||||||
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp., 144A, | 113,000 | 118,810 | ||||||
Targa Resources Partners LP / Targa Resources Partners Finance Corp., | 78,000 | 80,623 | ||||||
Western Midstream Operating LP | 250,000 | 250,281 | ||||||
3.60%, 2/1/25 | 200,000 | 201,111 | ||||||
4.65%, 7/1/26 | 83,000 | 86,109 | ||||||
|
| |||||||
(Cost $4,231,677) | 4,206,741 | |||||||
|
| |||||||
Financial — 12.9% | ||||||||
Banks — 1.9% | ||||||||
Commerzbank AG, 144A, | 286,000 | 307,672 | ||||||
Freedom Mortgage Corp. | 92,000 | 91,929 | ||||||
144A, 8.25%, 4/15/25 | 111,000 | 110,927 | ||||||
144A, 7.625%, 5/1/26 | 142,000 | 136,587 | ||||||
144A, 6.625%, 1/15/27 | 142,000 | 131,268 | ||||||
Intesa Sanpaolo SpA | 500,000 | 515,327 | ||||||
144A, 5.71%, 1/15/26 | 340,000 | 358,938 | ||||||
|
| |||||||
(Cost $1,678,745) | 1,652,648 | |||||||
|
| |||||||
Diversified Financial Services — 3.8% | ||||||||
Ally Financial, Inc., | 180,000 | 191,919 | ||||||
LD Holdings Group LLC, 144A, | 95,000 | 90,418 | ||||||
Nationstar Mortgage Holdings, Inc., 144A, | 120,000 | 121,952 | ||||||
Navient Corp. | 181,000 | 185,031 | ||||||
MTN, 6.125%, 3/25/24 | 165,000 | 170,151 | ||||||
5.875%, 10/25/24 | 91,000 | 94,232 | ||||||
6.75%, 6/25/25 | 110,000 | 114,385 | ||||||
6.75%, 6/15/26 | 140,000 | 145,426 | ||||||
OneMain Finance Corp. | 197,000 | 202,161 |
Principal | Value | |||||||
Diversified Financial Services (Continued) | ||||||||
6.125%, 3/15/24 | $ | 241,000 | $ | 248,525 | ||||
6.875%, 3/15/25 | 265,000 | 283,107 | ||||||
8.875%, 6/1/25 | 230,000 | 242,943 | ||||||
7.125%, 3/15/26 | 296,000 | 321,230 | ||||||
3.50%, 1/15/27 | 150,000 | 142,119 | ||||||
PennyMac Financial Services, Inc., 144A, | 126,000 | 125,512 | ||||||
Rocket Mortgage LLC / Rocket Mortgage Co.-Issuer, Inc., 144A, | 240,000 | 225,994 | ||||||
SLM Corp. | 200,000 | 201,242 | ||||||
3.125%, 11/2/26 | 100,000 | 95,987 | ||||||
United Wholesale Mortgage LLC, 144A, | 145,000 | 139,758 | ||||||
|
| |||||||
(Cost $3,420,428) | 3,342,092 | |||||||
|
| |||||||
Insurance — 1.0% | ||||||||
Acrisure LLC / Acrisure Finance, Inc., 144A, | 209,000 | 207,134 | ||||||
AssuredPartners, Inc., 144A, | 226,000 | 223,966 | ||||||
HUB International Ltd., 144A, | 250,000 | 251,925 | ||||||
Radian Group, Inc., | 210,000 | 222,597 | ||||||
|
| |||||||
(Cost $914,466) | 905,622 | |||||||
|
| |||||||
Real Estate — 0.4% | ||||||||
Realogy Group LLC / Realogy Co.-Issuer Corp., 144A, | 62,000 | 63,462 | ||||||
WeWork Cos. LLC / WW Co.-Obligor, Inc., 144A, | 125,000 | 105,235 | ||||||
WeWork Cos., Inc., 144A, | 150,000 | 136,022 | ||||||
|
| |||||||
(Cost $308,332) | 304,719 | |||||||
|
| |||||||
Real Estate Investment Trusts — 5.0% | ||||||||
Blackstone Mortgage Trust, Inc., 144A, | 159,000 | 150,482 | ||||||
Brookfield Property REIT, Inc. / BPR Cumulus LLC / BPR Nimbus LLC / GGSI Sellco LL, 144A, | 218,000 | 215,506 | ||||||
Diversified Healthcare Trust, | 263,000 | 278,144 | ||||||
HAT Holdings I LLC / HAT Holdings II LLC, 144A, | 250,000 | 237,320 | ||||||
iStar, Inc. | 159,000 | 160,185 | ||||||
4.25%, 8/1/25 (b) | 107,000 | 106,214 | ||||||
5.50%, 2/15/26 | 85,000 | 87,099 | ||||||
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., 144A, | 125,000 | 121,943 |
See Notes to Financial Statements. | 40 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Real Estate Investment Trusts (Continued) | ||||||||
MGM Growth Properties Operating Partnership LP / MGP Finance Co-Issuer, Inc. | $ | 102,000 | $ | 106,011 | ||||
144A, 4.625%, 6/15/25 | 122,000 | 125,853 | ||||||
4.50%, 9/1/26 | 100,000 | 102,132 | ||||||
5.75%, 2/1/27 | 100,000 | 108,319 | ||||||
RLJ Lodging Trust LP, 144A, | 115,000 | 112,159 | ||||||
SBA Communications Corp., | 250,000 | 249,706 | ||||||
Service Properties Trust | 168,000 | 167,562 | ||||||
4.35%, 10/1/24 | 145,000 | 139,014 | ||||||
7.50%, 9/15/25 | 211,000 | 221,867 | ||||||
4.75%, 10/1/26 | 100,000 | 92,673 | ||||||
Starwood Property Trust, Inc. 144A, | 70,000 | 68,504 | ||||||
4.75%, 3/15/25 | 70,000 | 70,811 | ||||||
144A, 3.625%, 7/15/26 | 150,000 | 142,196 | ||||||
144A, 4.375%, 1/15/27 | 100,000 | 97,221 | ||||||
Uniti Group LP / Uniti Fiber Holdings, Inc. / CSL Capital LLC, 144A, | 522,000 | 543,807 | ||||||
VICI Properties LP / VICI Note Co., Inc. | 204,000 | 204,729 | ||||||
144A, 4.25%, 12/1/26 | 215,000 | 217,392 | ||||||
144A, 3.75%, 2/15/27 | 150,000 | 149,128 | ||||||
XHR LP, 144A, | 97,000 | 100,013 | ||||||
|
| |||||||
(Cost $4,447,983) | 4,375,990 | |||||||
|
| |||||||
Venture Capital — 0.8% | ||||||||
Icahn Enterprises LP / Icahn Enterprises Finance Corp. | 293,000 | 291,144 | ||||||
6.375%, 12/15/25 | 175,000 | 177,599 | ||||||
6.25%, 5/15/26 | 235,000 | 237,017 | ||||||
|
| |||||||
(Cost $715,593) | 705,760 | |||||||
|
| |||||||
Industrial — 9.6% | ||||||||
Aerospace/Defense — 4.0% | ||||||||
Bombardier, Inc. | 200,000 | 207,215 | ||||||
144A, 7.50%, 3/15/25 | 291,000 | 290,580 | ||||||
144A, 7.125%, 6/15/26 | 282,000 | 281,938 | ||||||
Howmet Aerospace, Inc. | 256,000 | 268,923 | ||||||
6.875%, 5/1/25 | 175,000 | 192,955 | ||||||
Rolls-Royce PLC, 144A, | 186,000 | 181,871 | ||||||
Spirit AeroSystems, Inc. | 130,000 | 133,754 | ||||||
144A, 7.50%, 4/15/25 | 145,000 | 150,582 | ||||||
TransDigm, Inc. | 195,000 | 203,845 | ||||||
144A, 6.25%, 3/15/26 | 1,015,000 | 1,047,779 |
Principal | Value | |||||||
Aerospace/Defense (Continued) | ||||||||
6.375%, 6/15/26 | $ | 205,000 | $ | 209,232 | ||||
Triumph Group, Inc. | 138,000 | 147,401 | ||||||
144A, 6.25%, 9/15/24 | 71,000 | 70,539 | ||||||
7.75%, 8/15/25 (b) | 118,000 | 118,561 | ||||||
|
| |||||||
(Cost $3,456,614) | 3,505,175 | |||||||
|
| |||||||
Building Materials — 0.1% | ||||||||
JELD-WEN, Inc., 144A, | 95,000 | 93,364 | ||||||
|
| |||||||
Electrical Components & Equipment — 0.4% | ||||||||
WESCO Distribution, Inc., 144A, | 325,000 | 340,987 | ||||||
|
| |||||||
Electronics — 0.3% | ||||||||
Sensata Technologies BV | 76,000 | 77,983 | ||||||
144A, 5.625%, 11/1/24 | 66,000 | 69,617 | ||||||
144A, 5.00%, 10/1/25 | 156,000 | 161,507 | ||||||
|
| |||||||
(Cost $315,072) | 309,107 | |||||||
|
| |||||||
Engineering & Construction — 0.2% | ||||||||
Brand Industrial Services, Inc., 144A, | 203,000 | 186,598 | ||||||
|
| |||||||
Environmental Control — 0.6% | ||||||||
GFL Environmental, Inc. | 282,000 | 281,962 | ||||||
144A, 3.75%, 8/1/25 | 130,000 | 128,857 | ||||||
Stericycle, Inc., 144A, | 149,000 | 152,518 | ||||||
|
| |||||||
(Cost $570,184) | 563,337 | |||||||
|
| |||||||
Miscellaneous Manufacturing — 0.5% | ||||||||
FXI Holdings, Inc. | 140,000 | 138,070 | ||||||
144A, 12.25%, 11/15/26 | 160,000 | 171,402 | ||||||
Hillenbrand, Inc., | 94,000 | 97,562 | ||||||
|
| |||||||
(Cost $412,528) | 407,034 | |||||||
|
| |||||||
Packaging & Containers — 3.0% | ||||||||
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc. | 215,000 | 217,152 | ||||||
144A, 4.125%, 8/15/26 | 265,000 | 256,827 | ||||||
Ball Corp. | 185,000 | 189,144 | ||||||
5.25%, 7/1/25 | 250,000 | 265,288 | ||||||
4.875%, 3/15/26 | 139,000 | 145,368 | ||||||
Flex Acquisition Co., Inc., 144A, | 206,000 | 206,678 | ||||||
LABL, Inc., 144A, | 185,000 | 185,682 | ||||||
Mauser Packaging Solutions Holding Co. | 425,000 | 423,300 |
See Notes to Financial Statements. | 41 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Packaging & Containers (Continued) | ||||||||
144A, 7.25%, 4/15/25 | $ | 250,000 | $ | 246,071 | ||||
Owens-Brockway Glass Container, Inc., 144A, | 136,000 | 138,534 | ||||||
Sealed Air Corp. | 50,000 | 51,809 | ||||||
144A, 5.50%, 9/15/25 | 100,000 | 104,876 | ||||||
Trivium Packaging Finance BV, 144A, | 200,000 | 202,058 | ||||||
|
| |||||||
(Cost $2,670,328) | 2,632,787 | |||||||
|
| |||||||
Transportation — 0.3% | ||||||||
XPO Logistics, Inc., 144A, | 238,000 | 247,294 | ||||||
|
| |||||||
Trucking & Leasing — 0.2% | ||||||||
Fortress Transportation and Infrastructure Investors LLC, 144A, | 185,000 | 187,521 | ||||||
|
| |||||||
Technology — 2.8% | ||||||||
Computers — 1.1% | ||||||||
Diebold Nixdorf, Inc. | 33,000 | 32,556 | ||||||
144A, 9.375%, 7/15/25 | 145,000 | 151,164 | ||||||
Exela Intermediate LLC / Exela Finance, Inc., 144A, | 236,000 | 139,240 | ||||||
Seagate HDD Cayman | 110,000 | 113,155 | ||||||
4.875%, 3/1/24 | 97,000 | 100,157 | ||||||
4.75%, 1/1/25 | 113,000 | 116,524 | ||||||
Vericast Corp., 144A, | 277,000 | 283,233 | ||||||
|
| |||||||
(Cost $956,628) | 936,029 | |||||||
|
| |||||||
Office/Business Equipment — 0.4% | ||||||||
Xerox Corp., | 185,000 | 187,086 | ||||||
Xerox Holdings Corp., 144A, | 147,000 | 149,940 | ||||||
|
| |||||||
(Cost $337,795) | 337,026 | |||||||
|
| |||||||
Semiconductors — 0.1% | ||||||||
ams-OSRAM AG, 144A, | 125,000 | 129,695 | ||||||
|
| |||||||
Software — 1.2% | ||||||||
Boxer Parent Co., Inc., 144A, | 137,000 | 141,932 | ||||||
CDK Global, Inc., | 87,000 | 91,218 | ||||||
Change Healthcare Holdings LLC / Change Healthcare Finance, Inc., 144A, | 260,000 | 258,765 | ||||||
Fair Isaac Corp., 144A, | 80,000 | 84,997 |
Principal | Value | |||||||
Software (Continued) | ||||||||
PTC, Inc., 144A, | $ | 162,000 | $ | 161,946 | ||||
Veritas US, Inc. / Veritas Bermuda Ltd., 144A, | 353,000 | 349,576 | ||||||
|
| |||||||
(Cost $1,103,751) | 1,088,434 | |||||||
|
| |||||||
Utilities — 1.8% | ||||||||
Electric — 1.3% | ||||||||
Calpine Corp., 144A, | 84,000 | 84,939 | ||||||
DPL, Inc., | 80,000 | 79,697 | ||||||
NextEra Energy Operating Partners LP, 144A, | 350,000 | 357,304 | ||||||
Talen Energy Supply LLC | 115,000 | 47,338 | ||||||
144A, 10.50%, 1/15/26 | 120,000 | 54,209 | ||||||
TransAlta Corp., | 69,000 | 69,427 | ||||||
Vistra Operations Co. LLC | 230,000 | 233,911 | ||||||
144A, 5.625%, 2/15/27 | 200,000 | 205,168 | ||||||
|
| |||||||
(Cost $1,176,259) | 1,131,993 | |||||||
|
| |||||||
Gas — 0.5% | ||||||||
AmeriGas Partners LP / AmeriGas Finance Corp. | 121,000 | 123,584 | ||||||
5.50%, 5/20/25 | 107,000 | 109,022 | ||||||
5.875%, 8/20/26 | 175,000 | 178,500 | ||||||
|
| |||||||
(Cost $435,741) | 411,106 | |||||||
|
| |||||||
TOTAL CORPORATE BONDS (Cost $88,033,699) | 86,556,793 | |||||||
|
| |||||||
Number | ||||||||
SECURITIES LENDING COLLATERAL — 4.0% | ||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (c)(d) | 3,496,240 | 3,496,240 | ||||||
|
| |||||||
CASH EQUIVALENTS — 0.4% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (c) | 346,281 | 346,281 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 103.0% | $ | 90,399,314 | ||||||
Other assets and liabilities, net — (3.0%) | (2,598,530 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 87,800,784 | ||||||
|
|
See Notes to Financial Statements. | 42 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
February 28, 2022 (Unaudited)
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2022 is as follows:
Value ($) at 8/31/2021 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2022 | Value ($) at 2/28/2022 | ||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 4.0% |
| |||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (c)(d) |
| |||||||||||||||||||||||||||||||||||
1,323,612 | 2,172,628 | (e) | — | — | — | 119 | — | 3,496,240 | 3,496,240 | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.4% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (c) |
| |||||||||||||||||||||||||||||||||||
5,311,866 | 12,755,308 | (17,720,893 | ) | — | — | 549 | — | 346,281 | 346,281 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
6,635,478 | 14,927,936 | (17,720,893 | ) | — | — | 668 | — | 3,842,521 | 3,842,521 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) | Defaulted security or security for which income has been deemed uncollectible. |
(b) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2022 amounted to $4,335,578, which is 4.9% of net assets. |
(c) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
(d) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund held non-cash U.S. Treasury securities collateral having a value of $1,011,020. |
(e) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2022. |
GMTN: | Global Medium Term Note |
MTN: | Medium Term Note |
REIT: | Real Estate Investment Trust |
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, 2022 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
Assets | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Corporate Bonds (f) | $ | — | $ | 86,556,793 | $ | — | $ | 86,556,793 | ||||||||
Short-Term Investments (f) | 3,842,521 | — | — | 3,842,521 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 3,842,521 | $ | 86,556,793 | $ | — | $ | 90,399,314 | ||||||||
|
|
|
|
|
|
|
|
(f) | See Schedule of Investments for additional detailed categorizations. |
See Notes to Financial Statements. | 43 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF
February 28, 2022 (Unaudited)
Principal | Value | |||||||
CORPORATE BONDS — 98.3% | ||||||||
Basic Materials — 3.2% |
| |||||||
Chemicals — 1.7% | ||||||||
Ashland LLC, 144A, | $ | 1,812,000 | $ | 1,669,885 | ||||
ASP Unifrax Holdings, Inc. | 3,460,000 | 3,318,763 | ||||||
144A, 7.50%, 9/30/29 (a) | 1,700,000 | 1,554,047 | ||||||
Axalta Coating Systems LLC, 144A, | 2,975,000 | 2,718,971 | ||||||
Chemours Co. | 2,175,000 | 2,185,875 | ||||||
144A, 5.75%, 11/15/28 | 3,475,000 | 3,419,261 | ||||||
144A, 4.625%, 11/15/29 | 2,762,000 | 2,562,584 | ||||||
Consolidated Energy Finance SA | 1,853,000 | 1,853,426 | ||||||
144A, 5.625%, 10/15/28 | 2,231,000 | 2,064,902 | ||||||
INEOS Quattro Finance 2 PLC, 144A, | 2,135,000 | 2,041,327 | ||||||
Methanex Corp. | 3,050,000 | 3,101,621 | ||||||
5.25%, 12/15/29 (a) | 2,975,000 | 3,010,402 | ||||||
NOVA Chemicals Corp. | 4,462,000 | 4,523,219 | ||||||
144A, 5.00%, 5/1/25 | 2,111,000 | 2,135,013 | ||||||
144A, 5.25%, 6/1/27 | 4,327,000 | 4,345,303 | ||||||
144A, 4.25%, 5/15/29 (a) | 2,479,000 | 2,327,187 | ||||||
Olin Corp. | 2,292,000 | 2,323,469 | ||||||
5.625%, 8/1/29 | 3,331,000 | 3,480,379 | ||||||
5.00%, 2/1/30 | 2,019,000 | 2,037,686 | ||||||
Olympus Water US Holding Corp. | 3,463,000 | 3,233,749 | ||||||
144A, 6.25%, 10/1/29 (a) | 1,750,000 | 1,607,655 | ||||||
SCIH Salt Holdings, Inc. | 4,975,000 | 4,763,563 | ||||||
144A, 6.625%, 5/1/29 (a) | 2,975,000 | 2,800,412 | ||||||
TPC Group, Inc., 144A, | 1,900,000 | 1,045,000 | ||||||
Tronox, Inc. | 2,125,000 | 2,209,416 | ||||||
144A, 4.625%, 3/15/29 | 4,568,000 | 4,311,941 | ||||||
Valvoline, Inc. | 2,556,000 | 2,425,133 | ||||||
144A, 3.625%, 6/15/31 | 2,349,000 | 2,107,675 | ||||||
WR Grace Holdings LLC | 3,156,000 | 3,156,852 | ||||||
144A, 5.625%, 8/15/29 | 4,908,000 | 4,711,680 | ||||||
|
| |||||||
(Cost $88,784,351) | 83,046,396 | |||||||
|
| |||||||
Forest Products & Paper — 0.1% | ||||||||
Mercer International, Inc., | 3,706,000 | 3,629,536 | ||||||
|
| |||||||
Iron/Steel — 0.3% | ||||||||
Cleveland-Cliffs, Inc. | 2,581,000 | 2,868,059 |
Principal | Value | |||||||
Iron/Steel (Continued) | ||||||||
144A, 6.75%, 3/15/26 | $ | 3,591,000 | $ | 3,791,629 | ||||
5.875%, 6/1/27 | 2,458,000 | 2,534,935 | ||||||
144A, 4.625%, 3/1/29 (a) | 2,125,000 | 2,054,121 | ||||||
144A, 4.875%, 3/1/31 (a) | 2,125,000 | 2,053,834 | ||||||
United States Steel Corp., | 3,187,000 | 3,278,706 | ||||||
|
| |||||||
(Cost $16,984,269) | 16,581,284 | |||||||
|
| |||||||
Mining — 1.1% | ||||||||
Alcoa Nederland Holding BV | 3,302,000 | 3,446,578 | ||||||
144A, 6.125%, 5/15/28 | 2,125,000 | 2,239,304 | ||||||
144A, 4.125%, 3/31/29 | 2,135,000 | 2,144,059 | ||||||
Arconic Corp. | 2,959,000 | 3,055,167 | ||||||
144A, 6.125%, 2/15/28 | 3,896,000 | 3,989,446 | ||||||
Constellium SE, 144A, | 2,135,000 | 1,965,470 | ||||||
FMG Resources August 2006 Pty Ltd. | 3,187,000 | 3,279,455 | ||||||
144A, 4.50%, 9/15/27 | 2,571,000 | 2,575,319 | ||||||
144A, 4.375%, 4/1/31 | 6,479,000 | 6,297,750 | ||||||
Hudbay Minerals, Inc. | 2,589,000 | 2,504,741 | ||||||
144A, 6.125%, 4/1/29 (a) | 2,550,000 | 2,610,907 | ||||||
Kaiser Aluminum Corp. | 2,149,000 | 2,032,707 | ||||||
144A, 4.50%, 6/1/31 | 2,363,000 | 2,131,863 | ||||||
Novelis Corp. | 3,237,000 | 3,075,894 | ||||||
144A, 4.75%, 1/30/30 | 6,700,000 | 6,568,177 | ||||||
144A, 3.875%, 8/15/31 | 3,237,000 | 2,986,408 | ||||||
|
| |||||||
(Cost $53,785,150) | 50,903,245 | |||||||
|
| |||||||
Communications — 18.7% |
| |||||||
Advertising — 0.8% | ||||||||
Clear Channel Outdoor Holdings, Inc. | 5,285,000 | 5,286,585 | ||||||
144A, 7.75%, 4/15/28 | 4,387,000 | 4,555,900 | ||||||
144A, 7.50%, 6/1/29 | 4,462,000 | 4,632,738 | ||||||
Lamar Media Corp. | 2,632,000 | 2,533,300 | ||||||
4.00%, 2/15/30 | 2,337,000 | 2,245,588 | ||||||
3.625%, 1/15/31 | 2,337,000 | 2,197,423 | ||||||
Midas OpCo Holdings LLC, 144A, | 4,675,000 | 4,587,391 | ||||||
Outfront Media Capital LLC / Outfront Media Capital Corp. | 1,609,000 | 1,667,189 | ||||||
144A, 5.00%, 8/15/27 | 2,906,000 | 2,872,218 | ||||||
144A, 4.25%, 1/15/29 | 2,125,000 | 2,029,449 | ||||||
144A, 4.625%, 3/15/30 | 2,125,000 | 2,013,342 | ||||||
Terrier Media Buyer, Inc., 144A, | 4,413,000 | 4,528,312 | ||||||
|
| |||||||
(Cost $40,489,287) | 39,149,435 | |||||||
|
|
See Notes to Financial Statements. | 44 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Internet — 1.2% | ||||||||
Arches Buyer, Inc. | $ | 4,037,000 | $ | 3,827,258 | ||||
144A, 6.125%, 12/1/28 | 2,125,000 | 1,992,825 | ||||||
Go Daddy Operating Co. LLC / GD Finance Co., Inc. | 2,496,000 | 2,542,987 | ||||||
144A, 3.50%, 3/1/29 | 3,400,000 | 3,203,820 | ||||||
Match Group Holdings II LLC | 1,822,000 | 1,824,241 | ||||||
144A, 4.625%, 6/1/28 (a) | 2,122,000 | 2,132,037 | ||||||
144A, 4.125%, 8/1/30 | 2,147,000 | 2,081,764 | ||||||
144A, 3.625%, 10/1/31 | 2,260,000 | 2,110,885 | ||||||
NortonLifeLock, Inc., 144A, | 4,775,000 | 4,789,373 | ||||||
Photo Holdings Merger Sub, Inc., 144A, | 3,336,000 | 3,318,920 | ||||||
Twitter, Inc., 144A, | 2,975,000 | 2,929,780 | ||||||
Uber Technologies, Inc. | 4,250,000 | 4,424,250 | ||||||
144A, 8.00%, 11/1/26 | 6,431,000 | 6,837,664 | ||||||
144A, 7.50%, 9/15/27 | 5,144,000 | 5,471,441 | ||||||
144A, 6.25%, 1/15/28 (a) | 2,267,000 | 2,317,554 | ||||||
144A, 4.50%, 8/15/29 | 6,375,000 | 6,115,378 | ||||||
|
| |||||||
(Cost $57,763,382) | 55,920,177 | |||||||
|
| |||||||
Media — 9.7% | ||||||||
Altice Financing SA | 5,180,000 | 4,673,344 | ||||||
144A, 5.75%, 8/15/29 | 8,648,000 | 7,891,214 | ||||||
AMC Networks, Inc. | 1,896,000 | 1,895,772 | ||||||
4.75%, 8/1/25 | 3,400,000 | 3,397,875 | ||||||
4.25%, 2/15/29 | 4,350,000 | 4,079,495 | ||||||
Audacy Capital Corp. | 1,997,000 | 1,899,626 | ||||||
144A, 6.75%, 3/31/29 (a) | 2,295,000 | 2,178,643 | ||||||
Cable One, Inc., 144A, | 2,762,000 | 2,558,275 | ||||||
CCO Holdings LLC / CCO Holdings Capital Corp. | 2,141,000 | 2,140,732 | ||||||
144A, 5.50%, 5/1/26 | 3,187,000 | 3,254,692 | ||||||
144A, 5.125%, 5/1/27 | 14,211,000 | 14,384,801 | ||||||
144A, 5.00%, 2/1/28 | 10,624,000 | 10,663,043 | ||||||
144A, 5.375%, 6/1/29 | 6,375,000 | 6,465,589 | ||||||
144A, 4.75%, 3/1/30 | 12,962,000 | 12,725,638 | ||||||
144A, 4.50%, 8/15/30 | 11,687,000 | 11,210,054 | ||||||
144A, 4.25%, 2/1/31 | 12,899,000 | 12,107,259 | ||||||
144A, 4.75%, 2/1/32 | 5,100,000 | 4,958,296 | ||||||
4.50%, 5/1/32 | 12,337,000 | 11,717,498 | ||||||
144A, 4.50%, 6/1/33 | 7,437,000 | 6,983,157 | ||||||
144A, 4.25%, 1/15/34 | 8,549,000 | 7,843,003 | ||||||
CSC Holdings LLC | 3,187,000 | 3,225,371 | ||||||
144A, 5.50%, 4/15/27 | 5,567,000 | 5,559,819 | ||||||
144A, 5.375%, 2/1/28 | 4,359,000 | 4,250,025 |
Principal | Value | |||||||
Media (Continued) | ||||||||
144A, 7.50%, 4/1/28 | $ | 4,445,000 | $ | 4,443,978 | ||||
144A, 6.50%, 2/1/29 | 7,437,000 | 7,541,676 | ||||||
144A, 5.75%, 1/15/30 | 9,873,000 | 8,719,217 | ||||||
144A, 4.125%, 12/1/30 | 4,675,000 | 4,204,578 | ||||||
144A, 4.625%, 12/1/30 | 9,886,000 | 8,249,743 | ||||||
144A, 3.375%, 2/15/31 | 4,280,000 | 3,651,921 | ||||||
144A, 4.50%, 11/15/31 | 6,375,000 | 5,810,175 | ||||||
144A, 5.00%, 11/15/31 | 2,350,000 | 1,959,148 | ||||||
Diamond Sports Group LLC / Diamond Sports Finance Co. | 12,962,000 | 5,336,715 | ||||||
144A, 6.625%, 8/15/27 | 7,411,000 | 1,797,167 | ||||||
Directv Financing LLC / Directv Financing Co.-Obligor, Inc., 144A, | 15,624,000 | 15,648,842 | ||||||
DISH DBS Corp. | 6,575,000 | 6,653,900 | ||||||
5.875%, 11/15/24 | 8,906,000 | 8,914,906 | ||||||
7.75%, 7/1/26 | 8,581,000 | 8,699,804 | ||||||
144A, 5.25%, 12/1/26 | 11,897,000 | 11,685,085 | ||||||
7.375%, 7/1/28 (a) | 4,245,000 | 3,997,856 | ||||||
144A, 5.75%, 12/1/28 | 10,574,000 | 10,141,259 | ||||||
5.125%, 6/1/29 | 6,474,000 | 5,474,026 | ||||||
Gray Escrow II, Inc., 144A, | 5,525,000 | 5,270,242 | ||||||
Gray Television, Inc. | 3,075,000 | 3,147,924 | ||||||
144A, 7.00%, 5/15/27 | 3,148,000 | 3,317,016 | ||||||
144A, 4.75%, 10/15/30 | 3,400,000 | 3,192,073 | ||||||
iHeartCommunications, Inc. | 3,362,004 | 3,471,101 | ||||||
8.375%, 5/1/27 | 6,274,305 | 6,542,343 | ||||||
144A, 5.25%, 8/15/27 | 3,187,000 | 3,178,395 | ||||||
144A, 4.75%, 1/15/28 | 2,163,000 | 2,095,179 | ||||||
LCPR Senior Secured Financing DAC | 5,022,000 | 5,115,133 | ||||||
144A, 5.125%, 7/15/29 | 3,547,000 | 3,414,892 | ||||||
McGraw-Hill Education, Inc. | 3,880,000 | 3,686,000 | ||||||
144A, 8.00%, 8/1/29 | 3,126,000 | 2,811,431 | ||||||
News Corp. | 4,250,000 | 4,076,813 | ||||||
144A, 5.125%, 2/15/32 | 2,505,000 | 2,565,396 | ||||||
Nexstar Media, Inc. | 7,786,000 | 7,966,051 | ||||||
144A, 4.75%, 11/1/28 | 4,250,000 | 4,138,650 | ||||||
Radiate Holdco LLC / Radiate Finance, Inc. | 3,825,000 | 3,659,263 | ||||||
144A, 6.50%, 9/15/28 | 4,250,000 | 3,996,764 | ||||||
Scripps Escrow II, Inc. | 2,437,000 | 2,292,303 | ||||||
144A, 5.375%, 1/15/31 (a) | 2,170,000 | 2,061,500 | ||||||
Sinclair Television Group, Inc. | 1,700,000 | 1,548,938 | ||||||
144A, 5.50%, 3/1/30 | 2,125,000 | 1,867,184 | ||||||
144A, 4.125%, 12/1/30 | 3,187,000 | 2,857,400 |
See Notes to Financial Statements. | 45 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Media (Continued) | ||||||||
Sirius XM Radio, Inc. | $ | 4,236,000 | $ | 4,051,142 | ||||
144A, 5.00%, 8/1/27 | 6,737,000 | 6,812,185 | ||||||
144A, 4.00%, 7/15/28 | 8,499,000 | 8,185,387 | ||||||
144A, 5.50%, 7/1/29 | 5,245,000 | 5,372,060 | ||||||
144A, 4.125%, 7/1/30 | 6,375,000 | 6,035,691 | ||||||
144A, 3.875%, 9/1/31 | 6,324,000 | 5,835,882 | ||||||
TEGNA, Inc. | 2,346,000 | 2,364,369 | ||||||
4.625%, 3/15/28 | 4,448,000 | 4,453,582 | ||||||
5.00%, 9/15/29 | 4,727,000 | 4,723,124 | ||||||
Telenet Finance Luxembourg Notes SARL, 144A, | 4,200,000 | 4,200,000 | ||||||
Univision Communications, Inc. | 6,414,000 | 6,463,542 | ||||||
144A, 6.625%, 6/1/27 | 6,321,000 | 6,565,307 | ||||||
144A, 4.50%, 5/1/29 | 4,568,000 | 4,345,561 | ||||||
UPC Broadband Finco BV, 144A, | 5,382,000 | 5,147,937 | ||||||
UPC Holding BV, 144A, | 2,427,000 | 2,417,668 | ||||||
Videotron Ltd. | 2,821,000 | 2,926,223 | ||||||
144A, 5.125%, 4/15/27 | 2,417,500 | 2,463,046 | ||||||
144A, 3.625%, 6/15/29 | 2,113,000 | 2,013,943 | ||||||
Virgin Media Finance PLC, 144A, | 3,931,000 | 3,699,444 | ||||||
Virgin Media Secured Finance PLC | 6,056,000 | 6,060,023 | ||||||
144A, 4.50%, 8/15/30 | 4,038,000 | 3,781,708 | ||||||
VZ Secured Financing BV, 144A, | 6,631,000 | 6,342,518 | ||||||
Ziggo Bond Co. BV | 2,656,000 | 2,692,002 | ||||||
144A, 5.125%, 2/28/30 (a) | 2,125,000 | 1,984,155 | ||||||
Ziggo BV, 144A, | 4,211,000 | 4,024,516 | ||||||
|
| |||||||
(Cost $507,296,613) | 464,226,223 | |||||||
|
| |||||||
Telecommunications — 7.0% | ||||||||
Altice France Holding SA | 6,813,000 | 7,144,487 | ||||||
144A, 6.00%, 2/15/28 | 5,206,000 | 4,603,405 | ||||||
Altice France SA | 7,781,000 | 8,199,229 | ||||||
144A, 5.50%, 1/15/28 | 5,115,000 | 4,788,714 | ||||||
144A, 5.125%, 1/15/29 | 1,941,000 | 1,763,651 | ||||||
144A, 5.125%, 7/15/29 | 10,630,000 | 9,633,278 | ||||||
144A, 5.50%, 10/15/29 | 8,554,000 | 7,849,706 | ||||||
Avaya, Inc., 144A, | 4,250,000 | 4,102,185 | ||||||
C&W Senior Financing DAC, 144A, | 5,185,000 | 5,382,860 | ||||||
CommScope Technologies LLC | 5,550,000 | 5,447,020 | ||||||
144A, 5.00%, 3/15/27 | �� | 3,230,000 | 2,862,717 |
Principal | Value | |||||||
Telecommunications (Continued) | ||||||||
CommScope, Inc. | $ | 6,456,000 | $ | 6,593,384 | ||||
144A, 8.25%, 3/1/27 | 4,307,000 | 4,293,067 | ||||||
144A, 7.125%, 7/1/28 (a) | 3,010,000 | 2,826,962 | ||||||
144A, 4.75%, 9/1/29 | 5,312,000 | 4,962,072 | ||||||
Connect Finco SARL / Connect US Finco LLC, 144A, | 8,923,000 | 9,043,460 | ||||||
Consolidated Communications, Inc. | 1,686,000 | 1,599,458 | ||||||
144A, 6.50%, 10/1/28 (a) | 3,187,000 | 3,179,032 | ||||||
DKT Finance ApS, 144A, | 1,892,000 | 1,901,679 | ||||||
Frontier Communications Holdings LLC | 4,787,000 | 4,859,738 | ||||||
144A, 5.00%, 5/1/28 | 6,587,000 | 6,404,211 | ||||||
144A, 6.75%, 5/1/29 | 4,250,000 | 4,133,125 | ||||||
5.875%, 11/1/29 | 3,243,303 | 2,989,709 | ||||||
144A, 6.00%, 1/15/30 | 4,250,000 | 3,922,771 | ||||||
Hughes Satellite Systems Corp. | 3,279,000 | 3,372,189 | ||||||
6.625%, 8/1/26 (a) | 3,182,500 | 3,318,711 | ||||||
Iliad Holding SASU | 5,116,000 | 5,096,687 | ||||||
144A, 7.00%, 10/15/28 | 3,825,000 | 3,811,192 | ||||||
Intelsat Jackson Holdings SA, 144A, | 12,000,000 | 12,210,000 | ||||||
Level 3 Financing, Inc. | 2,337,000 | 2,346,301 | ||||||
5.25%, 3/15/26 | 3,401,000 | 3,411,781 | ||||||
144A, 4.625%, 9/15/27 | 4,350,000 | 4,190,942 | ||||||
144A, 4.25%, 7/1/28 | 5,242,000 | 4,848,850 | ||||||
144A, 3.625%, 1/15/29 | 3,654,000 | 3,206,484 | ||||||
144A, 3.75%, 7/15/29 | 3,915,000 | 3,461,017 | ||||||
Lumen Technologies, Inc. | 3,387,000 | 3,543,479 | ||||||
Series Y, 7.50%, 4/1/24 | 4,215,000 | 4,428,384 | ||||||
5.625%, 4/1/25 | 2,130,000 | 2,120,016 | ||||||
144A, 5.125%, 12/15/26 | 5,312,000 | 4,940,160 | ||||||
144A, 4.00%, 2/15/27 | 5,341,000 | 5,082,496 | ||||||
144A, 4.50%, 1/15/29 | 4,350,000 | 3,639,710 | ||||||
144A, 5.375%, 6/15/29 | 4,200,000 | 3,651,942 | ||||||
Nokia OYJ, | 2,125,000 | 2,203,657 | ||||||
Sprint Corp. | 18,211,000 | 19,588,207 | ||||||
7.125%, 6/15/24 | 11,324,000 | 12,268,535 | ||||||
7.625%, 2/15/25 | 6,515,000 | 7,223,506 | ||||||
7.625%, 3/1/26 | 6,225,000 | 7,103,970 | ||||||
Switch Ltd. | 2,550,000 | 2,423,265 | ||||||
144A, 4.125%, 6/15/29 | 2,225,000 | 2,133,708 | ||||||
Telecom Italia SpA, 144A, | 6,475,000 | 6,671,193 | ||||||
Telesat Canada / Telesat LLC | 2,170,000 | 1,599,062 |
See Notes to Financial Statements. | 46 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Telecommunications (Continued) | ||||||||
144A, 4.875%, 6/1/27 | $ | 1,775,000 | $ | 1,263,525 | ||||
144A, 6.50%, 10/15/27 | 2,337,000 | 1,172,391 | ||||||
T-Mobile USA, Inc. | 4,250,000 | 4,106,116 | ||||||
2.625%, 4/15/26 | 5,230,000 | 5,116,378 | ||||||
5.375%, 4/15/27 | 2,125,000 | 2,191,343 | ||||||
4.75%, 2/1/28 | 6,375,000 | 6,588,403 | ||||||
2.625%, 2/15/29 | 4,250,000 | 3,993,066 | ||||||
3.375%, 4/15/29 | 5,312,000 | 5,214,472 | ||||||
2.875%, 2/15/31 | 4,250,000 | 3,994,023 | ||||||
3.50%, 4/15/31 | 5,737,000 | 5,638,467 | ||||||
VEON Holdings BV | 2,249,000 | 1,416,870 | ||||||
144A, 7.25%, 4/26/23 | 2,975,000 | 1,945,724 | ||||||
144A, 4.95%, 6/16/24 | 2,263,000 | 1,267,280 | ||||||
144A, 4.00%, 4/9/25 | 4,250,000 | 1,848,750 | ||||||
144A, 3.375%, 11/25/27 | 5,312,000 | 2,337,280 | ||||||
Viasat, Inc. | 2,975,000 | 2,845,915 | ||||||
144A, 5.625%, 4/15/27 | 2,480,000 | 2,480,273 | ||||||
144A, 6.50%, 7/15/28 | 1,734,000 | 1,602,849 | ||||||
Vmed O2 UK Financing I PLC | 5,737,000 | 5,286,588 | ||||||
144A, 4.75%, 7/15/31 | 5,950,000 | 5,712,595 | ||||||
Windstream Escrow LLC / Windstream Escrow Finance Corp., 144A, | 5,950,000 | 6,012,713 | ||||||
Zayo Group Holdings, Inc. | 6,479,000 | 6,168,526 | ||||||
144A, 6.125%, 3/1/28 (a) | 4,660,000 | 4,339,206 | ||||||
|
| |||||||
(Cost $367,814,108) | 338,924,117 | |||||||
|
| |||||||
Consumer, Cyclical — 20.6% |
| |||||||
Airlines — 1.2% | ||||||||
Air Canada, 144A, | 5,100,000 | 4,966,814 | ||||||
American Airlines Group, Inc., 144A, | 2,125,000 | 1,981,563 | ||||||
American Airlines, Inc., 144A, | 10,624,000 | 12,911,347 | ||||||
Delta Air Lines, Inc. | 2,170,000 | 2,188,912 | ||||||
2.90%, 10/28/24 | 3,825,000 | 3,780,974 | ||||||
7.375%, 1/15/26 | 4,592,000 | 5,126,371 | ||||||
4.375%, 4/19/28 (a) | 2,025,000 | 2,028,402 | ||||||
3.75%, 10/28/29 (a) | 2,605,000 | 2,481,784 | ||||||
Hawaiian Brand Intellectual Property Ltd. / HawaiianMiles Loyalty Ltd., 144A, | 5,199,506 | 5,270,635 | ||||||
United Airlines, Inc. | 8,203,000 | 8,217,437 | ||||||
144A, 4.625%, 4/15/29 | 8,651,000 | 8,440,737 | ||||||
|
| |||||||
(Cost $59,007,784) | 57,394,976 | |||||||
|
| |||||||
Apparel — 0.3% | ||||||||
Hanesbrands, Inc. | 3,825,000 | 3,881,935 |
Principal | Value | |||||||
Apparel (Continued) | ||||||||
144A, 4.875%, 5/15/26 | $ | 3,825,000 | $ | 3,899,836 | ||||
Levi Strauss & Co., 144A, | 2,225,000 | 2,077,004 | ||||||
William Carter Co. | 2,125,000 | 2,180,569 | ||||||
144A, 5.625%, 3/15/27 | 2,197,000 | 2,241,017 | ||||||
|
| |||||||
(Cost $14,750,115) | 14,280,361 | |||||||
|
| |||||||
Auto Manufacturers — 3.3% | ||||||||
Allison Transmission, Inc. | 1,824,000 | 1,816,230 | ||||||
144A, 5.875%, 6/1/29 | 2,125,000 | 2,232,684 | ||||||
144A, 3.75%, 1/30/31 | 4,285,000 | 3,985,350 | ||||||
Ford Motor Co. | 4,951,000 | 5,746,254 | ||||||
4.346%, 12/8/26 | 6,344,000 | 6,494,670 | ||||||
9.625%, 4/22/30 | 1,861,000 | 2,560,448 | ||||||
3.25%, 2/12/32 | 10,624,000 | 10,035,962 | ||||||
Ford Motor Credit Co. LLC | 4,250,000 | 4,287,188 | ||||||
4.375%, 8/6/23 | 4,250,000 | 4,318,531 | ||||||
3.37%, 11/17/23 | 4,093,000 | 4,116,371 | ||||||
3.81%, 1/9/24 | 3,187,000 | 3,227,794 | ||||||
5.584%, 3/18/24 | 6,375,000 | 6,660,473 | ||||||
3.664%, 9/8/24 | 3,162,000 | 3,169,510 | ||||||
4.063%, 11/1/24 | 6,024,000 | 6,121,035 | ||||||
2.30%, 2/10/25 | 5,437,000 | 5,280,985 | ||||||
4.687%, 6/9/25 | 2,550,000 | 2,631,587 | ||||||
5.125%, 6/16/25 | 7,537,000 | 7,837,425 | ||||||
4.134%, 8/4/25 | 5,950,000 | 6,024,375 | ||||||
3.375%, 11/13/25 | 8,924,000 | 8,800,313 | ||||||
GMTN, 4.389%, 1/8/26 | 5,200,000 | 5,310,916 | ||||||
4.542%, 8/1/26 | 3,247,000 | 3,348,793 | ||||||
2.70%, 8/10/26 | 6,494,000 | 6,226,122 | ||||||
4.271%, 1/9/27 | 3,896,000 | 3,931,843 | ||||||
4.125%, 8/17/27 | 5,569,000 | 5,618,286 | ||||||
3.815%, 11/2/27 | 3,332,000 | 3,306,244 | ||||||
2.90%, 2/16/28 | 3,243,000 | 3,076,618 | ||||||
2.90%, 2/10/29 | 3,187,000 | 2,981,438 | ||||||
5.113%, 5/3/29 | 6,319,000 | 6,671,885 | ||||||
4.00%, 11/13/30 | 6,977,000 | 6,932,905 | ||||||
3.625%, 6/17/31 | 4,250,000 | 4,093,334 | ||||||
Jaguar Land Rover Automotive PLC | 2,237,000 | 2,360,035 | ||||||
144A, 4.50%, 10/1/27 | 2,389,000 | 2,201,045 | ||||||
144A, 5.875%, 1/15/28 | 2,897,000 | 2,876,721 | ||||||
144A, 5.50%, 7/15/29 | 2,165,000 | 2,083,899 | ||||||
|
| |||||||
(Cost $162,324,667) | 156,367,269 | |||||||
|
| |||||||
Auto Parts & Equipment — 1.4% | ||||||||
Adient Global Holdings Ltd., 144A, | 3,565,000 | 3,574,679 | ||||||
American Axle & Manufacturing, Inc. | 1,820,000 | 1,848,283 | ||||||
6.50%, 4/1/27 (a) | 2,108,000 | 2,157,538 | ||||||
6.875%, 7/1/28 (a) | 1,700,000 | 1,754,825 | ||||||
5.00%, 10/1/29 (a) | 2,550,000 | 2,423,112 |
See Notes to Financial Statements. | 47 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Auto Parts & Equipment (Continued) | ||||||||
Clarios Global LP, 144A, | $ | 1,912,000 | $ | 1,986,243 | ||||
Clarios Global LP / Clarios US Finance Co. | 3,825,000 | 3,964,096 | ||||||
144A, 8.50%, 5/15/27 | 8,302,000 | 8,652,760 | ||||||
Dana Financing Luxembourg SARL, 144A, | 1,849,000 | 1,874,488 | ||||||
Dana, Inc. | 1,577,000 | 1,610,519 | ||||||
5.625%, 6/15/28 | 1,744,000 | 1,785,429 | ||||||
4.25%, 9/1/30 | 1,769,000 | 1,683,283 | ||||||
Goodyear Tire & Rubber Co. | 3,449,000 | 3,675,772 | ||||||
5.00%, 5/31/26 | 3,915,000 | 3,934,536 | ||||||
4.875%, 3/15/27 | 2,975,000 | 2,978,808 | ||||||
144A, 5.00%, 7/15/29 | 3,612,000 | 3,558,217 | ||||||
5.25%, 4/30/31 | 2,737,000 | 2,664,894 | ||||||
144A, 5.25%, 7/15/31 | 2,432,000 | 2,371,930 | ||||||
5.625%, 4/30/33 | 1,948,000 | 1,875,924 | ||||||
Tenneco, Inc. | 2,125,000 | 2,122,588 | ||||||
144A, 7.875%, 1/15/29 | 2,225,000 | 2,352,448 | ||||||
144A, 5.125%, 4/15/29 | 3,400,000 | 3,379,481 | ||||||
ZF North America Capital, Inc., 144A, | 4,579,000 | 4,653,271 | ||||||
|
| |||||||
(Cost $68,896,698) | 66,883,124 | |||||||
|
| |||||||
Distribution/Wholesale — 0.5% | ||||||||
American Builders & Contractors Supply Co., Inc. | 2,975,000 | 2,913,060 | ||||||
144A, 3.875%, 11/15/29 | 1,700,000 | 1,600,660 | ||||||
Avient Corp. | 2,550,000 | 2,617,103 | ||||||
144A, 5.75%, 5/15/25 | 2,980,000 | 3,062,010 | ||||||
H&E Equipment Services, Inc., 144A, | 5,312,000 | 4,977,796 | ||||||
Wolverine Escrow LLC | 2,811,000 | 2,365,878 | ||||||
144A, 9.00%, 11/15/26 (a) | 3,635,000 | 3,640,997 | ||||||
144A, 13.125%, 11/15/27 (a) | 2,231,000 | 1,104,345 | ||||||
|
| |||||||
(Cost $24,409,451) | 22,281,849 | |||||||
|
| |||||||
Entertainment — 3.3% | ||||||||
AMC Entertainment Holdings, Inc. | 6,585,730 | 6,103,259 | ||||||
144A, 7.50%, 2/15/29 | 3,800,000 | 3,758,903 | ||||||
Banijay Entertainment SASU, 144A, | 1,763,000 | 1,747,133 | ||||||
Caesars Entertainment, Inc. | 14,495,000 | 15,040,954 | ||||||
144A, 8.125%, 7/1/27 | 7,673,000 | 8,256,685 | ||||||
144A, 4.625%, 10/15/29 | 5,169,000 | 4,925,023 | ||||||
Caesars Resort Collection LLC / CRC Finco, Inc., 144A, | 4,111,000 | 4,220,147 |
Principal | Value | |||||||
Entertainment (Continued) | ||||||||
Cedar Fair LP, | $ | 2,125,000 | $ | 2,126,328 | ||||
Cedar Fair LP / Canada’s Wonderland Co. / Magnum Management Corp. / Millennium Op | 4,450,000 | 4,579,339 | ||||||
5.375%, 4/15/27 (a) | 2,125,000 | 2,143,201 | ||||||
Churchill Downs, Inc. | 2,550,000 | 2,591,246 | ||||||
144A, 4.75%, 1/15/28 | 3,075,000 | 3,024,186 | ||||||
Cinemark USA, Inc. | 1,721,000 | 1,696,906 | ||||||
144A, 5.25%, 7/15/28 (a) | 3,251,000 | 3,080,193 | ||||||
International Game Technology PLC | 4,834,000 | 5,141,805 | ||||||
144A, 4.125%, 4/15/26 | 3,278,000 | 3,232,895 | ||||||
144A, 6.25%, 1/15/27 | 3,187,000 | 3,382,491 | ||||||
144A, 5.25%, 1/15/29 | 3,237,000 | 3,305,948 | ||||||
Lions Gate Capital Holdings LLC, 144A, | 4,270,000 | 4,066,321 | ||||||
Live Nation Entertainment, Inc. | 2,444,000 | 2,472,790 | ||||||
144A, 6.50%, 5/15/27 | 5,100,000 | 5,466,027 | ||||||
144A, 4.75%, 10/15/27 | 4,037,000 | 3,971,439 | ||||||
144A, 3.75%, 1/15/28 | 2,225,000 | 2,133,219 | ||||||
Mohegan Gaming & Entertainment, 144A, | 5,314,000 | 5,373,517 | ||||||
Penn National Gaming, Inc. | 1,700,000 | 1,725,466 | ||||||
144A, 4.125%, 7/1/29 | 1,700,000 | 1,574,336 | ||||||
Premier Entertainment Sub LLC / Premier Entertainment Finance Corp. | 3,187,000 | 2,895,278 | ||||||
144A, 5.875%, 9/1/31 | 3,187,000 | 2,872,395 | ||||||
Resorts World Las Vegas LLC / RWLV Capital, Inc., 144A, | 4,290,000 | 4,019,594 | ||||||
Scientific Games International, Inc. | 2,386,000 | 2,531,546 | ||||||
144A, 5.00%, 10/15/25 | 5,412,000 | 5,472,723 | ||||||
144A, 8.25%, 3/15/26 | 4,768,000 | 4,969,591 | ||||||
144A, 7.00%, 5/15/28 | 2,975,000 | 3,067,225 | ||||||
144A, 7.25%, 11/15/29 | 2,125,000 | 2,259,938 | ||||||
Six Flags Entertainment Corp. | 4,250,000 | 4,254,845 | ||||||
144A, 5.50%, 4/15/27 | 2,125,000 | 2,145,591 | ||||||
Six Flags Theme Parks, Inc., 144A, | 3,085,000 | 3,219,953 | ||||||
Vail Resorts, Inc., 144A, | 2,650,000 | 2,733,025 | ||||||
WMG Acquisition Corp. | 2,295,000 | 2,195,718 | ||||||
144A, 3.875%, 7/15/30 (a) | 2,314,000 | 2,225,108 | ||||||
144A, 3.00%, 2/15/31 | 3,460,000 | 3,119,830 | ||||||
Wynn Resorts Finance LLC / Wynn Resorts Capital Corp. | 2,550,000 | 2,664,992 |
See Notes to Financial Statements. | 48 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Entertainment (Continued) | ||||||||
144A, 5.125%, 10/1/29 | $ | 3,187,000 | $ | 3,071,296 | ||||
|
| |||||||
(Cost $164,312,081) | 158,858,405 | |||||||
|
| |||||||
Food Service — 0.4% | ||||||||
Aramark Services, Inc. | 2,550,000 | 2,573,256 | ||||||
144A, 6.375%, 5/1/25 | 6,575,000 | 6,797,531 | ||||||
144A, 5.00%, 2/1/28 (a) | 5,030,000 | 5,044,537 | ||||||
TKC Holdings, Inc. | 1,806,000 | 1,790,170 | ||||||
144A, 10.50%, 5/15/29 | 2,869,000 | 2,945,904 | ||||||
|
| |||||||
(Cost $19,506,234) | 19,151,398 | |||||||
|
| |||||||
Home Builders — 0.6% | ||||||||
Ashton Woods USA LLC / Ashton Woods Finance Co., 144A, | 1,698,000 | 1,602,462 | ||||||
Brookfield Residential Properties, Inc. / Brookfield Residential US LLC | 2,600,000 | 2,609,633 | ||||||
144A, 4.875%, 2/15/30 | 2,125,000 | 1,941,655 | ||||||
Century Communities, Inc. | 2,301,000 | 2,384,181 | ||||||
144A, 3.875%, 8/15/29 | 2,125,000 | 1,974,231 | ||||||
Mattamy Group Corp. | 2,245,000 | 2,256,247 | ||||||
144A, 4.625%, 3/1/30 | 2,640,000 | 2,486,418 | ||||||
Meritage Homes Corp. | 2,100,000 | 2,239,020 | ||||||
144A, 3.875%, 4/15/29 | 1,962,000 | 1,921,102 | ||||||
Taylor Morrison Communities, Inc. | 1,975,000 | 2,074,343 | ||||||
144A, 5.75%, 1/15/28 | 1,912,000 | 1,996,577 | ||||||
144A, 5.125%, 8/1/30 | 2,175,000 | 2,171,346 | ||||||
Williams Scotsman International, Inc., 144A, | 2,325,000 | 2,295,938 | ||||||
|
| |||||||
(Cost $29,588,641) | 27,953,153 | |||||||
|
| |||||||
Home Furnishings — 0.1% | ||||||||
Tempur Sealy International, Inc. | 3,400,000 | 3,210,484 | ||||||
144A, 3.875%, 10/15/31 | 3,300,000 | 2,970,000 | ||||||
|
| |||||||
(Cost $6,801,628) | 6,180,484 | |||||||
|
| |||||||
Housewares — 0.4% | ||||||||
Newell Brands, Inc. | 4,646,000 | 4,746,423 | ||||||
4.875%, 6/1/25 | 2,125,000 | 2,238,964 | ||||||
4.70%, 4/1/26 | 8,624,000 | 8,937,051 | ||||||
Scotts Miracle-Gro Co. | 2,147,000 | 2,075,484 | ||||||
4.00%, 4/1/31 | 1,875,000 | 1,723,200 | ||||||
4.375%, 2/1/32 | 1,750,000 | 1,618,225 | ||||||
|
| |||||||
(Cost $22,422,869) | 21,339,347 | |||||||
|
| |||||||
Leisure Time — 2.3% | ||||||||
Carnival Corp. | 3,294,000 | 3,701,764 |
Principal | Value | |||||||
Leisure Time (Continued) | ||||||||
144A, 7.625%, 3/1/26 | $ | 6,034,000 | $ | 6,208,956 | ||||
144A, 5.75%, 3/1/27 | 14,934,000 | 14,542,655 | ||||||
144A, 9.875%, 8/1/27 | 3,923,000 | 4,409,079 | ||||||
144A, 4.00%, 8/1/28 | 10,349,000 | 9,898,198 | ||||||
144A, 6.00%, 5/1/29 | 8,574,000 | 8,285,956 | ||||||
Life Time, Inc. | 3,997,000 | 3,981,112 | ||||||
144A, 8.00%, 4/15/26 (a) | 2,289,000 | 2,287,581 | ||||||
NCL Corp. Ltd. | 2,601,000 | 2,441,728 | ||||||
144A, 5.875%, 3/15/26 | 6,056,000 | 5,865,236 | ||||||
144A, 5.875%, 2/15/27 | 4,000,000 | 4,002,500 | ||||||
144A, 7.75%, 2/15/29 | 2,500,000 | 2,578,100 | ||||||
Royal Caribbean Cruises Ltd. | 4,079,000 | 4,383,049 | ||||||
144A, 9.125%, 6/15/23 | 4,250,000 | 4,441,037 | ||||||
144A, 11.50%, 6/1/25 | 6,167,000 | 6,824,587 | ||||||
144A, 4.25%, 7/1/26 | 2,762,000 | 2,619,992 | ||||||
144A, 5.50%, 8/31/26 | 4,250,000 | 4,214,916 | ||||||
144A, 5.375%, 7/15/27 | 4,316,000 | 4,245,563 | ||||||
3.70%, 3/15/28 (a) | 2,251,000 | 2,043,030 | ||||||
144A, 5.50%, 4/1/28 | 6,375,000 | 6,255,756 | ||||||
Viking Cruises Ltd. | 2,982,000 | 3,317,788 | ||||||
144A, 5.875%, 9/15/27 | 3,581,000 | 3,343,472 | ||||||
144A, 7.00%, 2/15/29 | 2,195,000 | 2,077,589 | ||||||
|
| |||||||
(Cost $115,309,682) | 111,969,644 | |||||||
|
| |||||||
Lodging — 2.2% | ||||||||
Boyd Gaming Corp. | 4,249,000 | 4,260,154 | ||||||
144A, 4.75%, 6/15/31 | 3,825,000 | 3,761,734 | ||||||
Hilton Domestic Operating Co., Inc. | 2,125,000 | 2,195,125 | ||||||
144A, 5.75%, 5/1/28 | 2,215,000 | 2,317,344 | ||||||
144A, 3.75%, 5/1/29 | 3,350,000 | 3,238,026 | ||||||
4.875%, 1/15/30 | 4,650,000 | 4,791,848 | ||||||
144A, 4.00%, 5/1/31 | 4,675,000 | 4,575,422 | ||||||
144A, 3.625%, 2/15/32 | 6,375,000 | 6,072,379 | ||||||
Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand Vacations Borrower Esc | 3,712,000 | 3,643,365 | ||||||
144A, 4.875%, 7/1/31 | 2,125,000 | 2,020,843 | ||||||
Hilton Worldwide Finance LLC / Hilton Worldwide Finance Corp., | 2,550,000 | 2,607,515 | ||||||
Marriott Ownership Resorts, Inc., 144A, | 2,225,000 | 2,110,958 | ||||||
Melco Resorts Finance Ltd. | 4,410,000 | 4,209,345 | ||||||
144A, 5.25%, 4/26/26 (a) | 2,125,000 | 1,984,219 | ||||||
144A, 5.625%, 7/17/27 | 2,550,000 | 2,383,740 | ||||||
144A, 5.75%, 7/21/28 | 3,812,000 | 3,451,804 | ||||||
144A, 5.375%, 12/4/29 | 4,887,000 | 4,249,735 | ||||||
MGM Resorts International | 5,412,000 | 5,587,890 |
See Notes to Financial Statements. | 49 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Lodging (Continued) | ||||||||
6.75%, 5/1/25 | $ | 3,200,000 | $ | 3,315,552 | ||||
5.75%, 6/15/25 | 2,880,000 | 2,988,000 | ||||||
4.625%, 9/1/26 | 1,557,000 | 1,555,023 | ||||||
5.50%, 4/15/27 | 2,902,000 | 3,000,421 | ||||||
4.75%, 10/15/28 | 3,071,000 | 3,063,284 | ||||||
Station Casinos LLC | 3,248,000 | 3,126,200 | ||||||
144A, 4.625%, 12/1/31 | 2,125,000 | 2,005,320 | ||||||
Travel + Leisure Co. | 1,689,000 | 1,695,275 | ||||||
144A, 6.625%, 7/31/26 | 2,762,000 | 2,952,357 | ||||||
6.00%, 4/1/27 | 1,700,000 | 1,779,237 | ||||||
144A, 4.50%, 12/1/29 | 2,762,000 | 2,642,889 | ||||||
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp. | 2,125,000 | 2,137,771 | ||||||
144A, 5.50%, 3/1/25 | 7,649,000 | 7,766,030 | ||||||
144A, 5.25%, 5/15/27 (a) | 3,825,000 | 3,791,302 | ||||||
|
| |||||||
(Cost $110,562,391) | 105,280,107 | |||||||
|
| |||||||
Retail — 4.4% | ||||||||
1011778 BC ULC / New Red Finance, Inc. | 1,929,000 | 1,989,108 | ||||||
144A, 3.875%, 1/15/28 | 6,581,000 | 6,410,552 | ||||||
144A, 4.375%, 1/15/28 | 3,237,000 | 3,185,807 | ||||||
144A, 3.50%, 2/15/29 | 3,237,000 | 3,056,845 | ||||||
144A, 4.00%, 10/15/30 | 12,324,000 | 11,426,659 | ||||||
Asbury Automotive Group, Inc. | 1,731,000 | 1,704,273 | ||||||
144A, 4.625%, 11/15/29 | 3,400,000 | 3,321,307 | ||||||
4.75%, 3/1/30 | 1,891,000 | 1,837,797 | ||||||
144A, 5.00%, 2/15/32 | 2,550,000 | 2,479,161 | ||||||
Bath & Body Works, Inc. | 2,125,000 | 2,204,687 | ||||||
7.50%, 6/15/29 | 2,125,000 | 2,338,520 | ||||||
144A, 6.625%, 10/1/30 | 4,150,000 | 4,497,645 | ||||||
Carvana Co. | 2,125,000 | 2,020,875 | ||||||
144A, 5.50%, 4/15/27 | 2,550,000 | 2,283,576 | ||||||
144A, 5.875%, 10/1/28 (a) | 2,550,000 | 2,280,401 | ||||||
144A, 4.875%, 9/1/29 (a) | 3,287,000 | 2,750,874 | ||||||
eG Global Finance PLC | 3,441,000 | 3,445,318 | ||||||
144A, 8.50%, 10/30/25 | 2,612,000 | 2,643,292 | ||||||
Ferrellgas LP / Ferrellgas Finance Corp. | 2,762,000 | 2,585,978 | ||||||
144A, 5.875%, 4/1/29 | 3,556,000 | 3,272,587 | ||||||
Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc. | 4,250,000 | 4,074,369 | ||||||
144A, 6.75%, 1/15/30 | 5,442,000 | 5,176,675 | ||||||
FirstCash, Inc. | 2,125,000 | 2,008,869 | ||||||
144A, 5.625%, 1/1/30 | 2,387,000 | 2,374,194 | ||||||
Gap, Inc. | 2,962,000 | 2,682,831 |
Principal | Value | |||||||
Retail (Continued) | ||||||||
144A, 3.875%, 10/1/31 | $ | 3,262,000 | $ | 2,911,335 | ||||
IRB Holding Corp. | 3,333,000 | 3,486,285 | ||||||
144A, 6.75%, 2/15/26 | 2,061,000 | 2,078,518 | ||||||
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC, 144A, | 2,748,000 | 2,820,478 | ||||||
LBM Acquisition LLC, 144A, | 3,485,000 | 3,238,175 | ||||||
LCM Investments Holdings II LLC, 144A, | 4,250,000 | 4,055,329 | ||||||
Lithia Motors, Inc. | 1,725,000 | 1,765,857 | ||||||
144A, 3.875%, 6/1/29 | 3,400,000 | 3,355,018 | ||||||
144A, 4.375%, 1/15/31 | 2,337,000 | 2,358,360 | ||||||
Macy’s Retail Holdings LLC, 144A, | 2,157,000 | 2,208,089 | ||||||
Michaels Cos., Inc. | 3,612,000 | 3,392,101 | ||||||
144A, 7.875%, 5/1/29 | 5,525,000 | 4,844,679 | ||||||
Murphy Oil USA, Inc. | 2,175,000 | 2,184,276 | ||||||
144A, 3.75%, 2/15/31 (a) | 2,175,000 | 2,037,170 | ||||||
NMG Holding Co, Inc. / Neiman Marcus Group LLC, 144A, | 5,175,000 | 5,332,838 | ||||||
Nordstrom, Inc. | 2,125,000 | 1,939,488 | ||||||
4.25%, 8/1/31 (a) | 1,804,000 | 1,617,908 | ||||||
Party City Holdings, Inc., 144A, | 3,187,000 | 3,194,968 | ||||||
Penske Automotive Group, Inc. | 2,348,000 | 2,327,549 | ||||||
3.75%, 6/15/29 (a) | 2,125,000 | 1,987,991 | ||||||
PetSmart, Inc. / PetSmart Finance Corp. | 5,100,000 | 5,094,543 | ||||||
144A, 7.75%, 2/15/29 | 5,152,000 | 5,421,269 | ||||||
QVC, Inc. | 3,248,000 | 3,308,754 | ||||||
4.85%, 4/1/24 | 2,556,000 | 2,584,678 | ||||||
4.45%, 2/15/25 | 2,551,000 | 2,541,217 | ||||||
4.75%, 2/15/27 | 2,472,000 | 2,302,965 | ||||||
4.375%, 9/1/28 | 2,125,000 | 1,929,256 | ||||||
Rite Aid Corp. | 2,525,000 | 2,429,113 | ||||||
144A, 8.00%, 11/15/26 | 3,612,000 | 3,438,461 | ||||||
Sonic Automotive, Inc. | 2,762,000 | 2,626,234 | ||||||
144A, 4.875%, 11/15/31 | 2,225,000 | 2,100,656 | ||||||
SRS Distribution, Inc. | 2,762,000 | 2,641,080 | ||||||
144A, 6.125%, 7/1/29 | 1,947,000 | 1,862,714 | ||||||
144A, 6.00%, 12/1/29 | 3,677,000 | 3,484,141 | ||||||
Staples, Inc. | 8,586,000 | 8,505,506 | ||||||
144A, 10.75%, 4/15/27 (a) | 4,175,000 | 3,900,765 |
See Notes to Financial Statements. | 50 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Retail (Continued) | ||||||||
Suburban Propane Partners LP/Suburban Energy Finance Corp., 144A, | $ | 2,837,000 | $ | 2,698,512 | ||||
Yum! Brands, Inc. | 1,908,000 | 1,989,233 | ||||||
144A, 4.75%, 1/15/30 | 3,455,000 | 3,513,079 | ||||||
3.625%, 3/15/31 | 4,359,000 | 4,079,871 | ||||||
4.625%, 1/31/32 | 4,828,000 | 4,738,923 | ||||||
|
| |||||||
(Cost $223,113,151) | 210,379,582 | |||||||
|
| |||||||
Toys/Games/Hobbies — 0.2% | ||||||||
Mattel, Inc. | 2,650,000 | 2,635,239 | ||||||
144A, 5.875%, 12/15/27 | 2,508,000 | 2,661,590 | ||||||
144A, 3.75%, 4/1/29 (a) | 2,550,000 | 2,557,140 | ||||||
|
| |||||||
(Cost $8,058,212) | 7,853,969 | |||||||
|
| |||||||
Consumer, Non-cyclical — 18.6% | ||||||||
Agriculture — 0.2% | ||||||||
Darling Ingredients, Inc., 144A, | 2,125,000 | 2,164,908 | ||||||
Vector Group Ltd. | 2,459,000 | 2,528,860 | ||||||
144A, 5.75%, 2/1/29 | 3,718,000 | 3,436,343 | ||||||
|
| |||||||
(Cost $8,599,958) | 8,130,111 | |||||||
|
| |||||||
Beverages — 0.1% | ||||||||
Primo Water Holdings, Inc., 144A, | 3,187,000 | 2,972,053 | ||||||
|
| |||||||
Biotechnology — 0.1% | ||||||||
Grifols Escrow Issuer SA, 144A, | 2,700,000 | 2,548,058 | ||||||
|
| |||||||
Commercial Services — 3.9% | ||||||||
ADT Security Corp. | 3,003,000 | 3,063,961 | ||||||
144A, 4.125%, 8/1/29 | 4,250,000 | 4,014,359 | ||||||
Allied Universal Holdco LLC / Allied Universal Finance Corp. | 8,348,000 | 8,559,204 | ||||||
144A, 9.75%, 7/15/27 | 4,667,000 | 4,881,682 | ||||||
144A, 6.00%, 6/1/29 (a) | 4,237,000 | 3,945,664 | ||||||
Allied Universal Holdco LLC / Allied Universal Finance Corp. / Atlas Luxco 4 SARL, 144A, | 5,268,000 | 5,008,946 | ||||||
APX Group, Inc. | 2,650,000 | 2,723,882 | ||||||
144A, 5.75%, 7/15/29 (a) | 3,400,000 | 3,053,489 | ||||||
Avis Budget Car Rental LLC / Avis Budget Finance, Inc. | 2,110,000 | 2,129,813 | ||||||
144A, 4.75%, 4/1/28 | 2,158,000 | 2,068,098 | ||||||
144A, 5.375%, 3/1/29 (a) | 2,590,000 | 2,552,302 |
Principal | Value | |||||||
Commercial Services (Continued) | ||||||||
Block, Inc. | $ | 4,250,000 | $ | 4,128,046 | ||||
144A, 3.50%, 6/1/31 (a) | 4,350,000 | 4,091,523 | ||||||
Brink’s Co. | 1,700,000 | 1,740,349 | ||||||
144A, 4.625%, 10/15/27 | 2,720,000 | 2,659,317 | ||||||
CoreCivic, Inc., | 2,869,000 | 2,917,472 | ||||||
Garda World Security Corp. | 2,788,000 | 2,705,308 | ||||||
144A, 9.50%, 11/1/27 | 2,592,000 | 2,677,316 | ||||||
144A, 6.00%, 6/1/29 | 2,195,000 | 1,994,542 | ||||||
Gartner, Inc. | 3,470,000 | 3,519,413 | ||||||
144A, 3.625%, 6/15/29 | 2,550,000 | 2,478,574 | ||||||
144A, 3.75%, 10/1/30 | 3,400,000 | 3,286,253 | ||||||
Grand Canyon University, | 2,125,000 | 2,153,815 | ||||||
Herc Holdings, Inc., 144A, | 5,200,000 | 5,336,500 | ||||||
Hertz Corp. | 2,125,000 | 2,026,326 | ||||||
144A, 5.00%, 12/1/29 | 4,365,000 | 4,077,194 | ||||||
MPH Acquisition Holdings LLC | 4,532,000 | 4,404,039 | ||||||
144A, 5.75%, 11/1/28 (a) | 5,525,000 | 4,992,445 | ||||||
Nielsen Co. Luxembourg SARL, 144A, | 2,187,000 | 2,206,300 | ||||||
Nielsen Finance LLC / Nielsen Finance Co. | 4,250,000 | 4,076,834 | ||||||
144A, 4.50%, 7/15/29 | 2,656,000 | 2,391,197 | ||||||
144A, 5.875%, 10/1/30 | 3,214,000 | 3,091,579 | ||||||
144A, 4.75%, 7/15/31 | 2,609,000 | 2,331,363 | ||||||
Prime Security Services Borrower LLC / Prime Finance, Inc. | 3,228,000 | 3,296,805 | ||||||
144A, 5.75%, 4/15/26 | 5,712,000 | 5,868,880 | ||||||
144A, 3.375%, 8/31/27 | 4,250,000 | 3,937,952 | ||||||
144A, 6.25%, 1/15/28 | 5,625,000 | 5,434,847 | ||||||
Ritchie Bros Auctioneers, Inc., 144A, | 2,125,000 | 2,160,912 | ||||||
RR Donnelley & Sons Co., 144A, | 1,912,000 | 2,038,670 | ||||||
Sabre GLBL, Inc. | 3,294,000 | 3,719,091 | ||||||
144A, 7.375%, 9/1/25 | 3,712,000 | 3,851,200 | ||||||
Service Corp. International | 2,337,000 | 2,363,314 | ||||||
5.125%, 6/1/29 | 3,187,000 | 3,272,571 | ||||||
3.375%, 8/15/30 | 3,462,000 | 3,187,481 | ||||||
4.00%, 5/15/31 | 3,400,000 | 3,226,991 | ||||||
Sotheby’s, 144A, | 3,321,000 | 3,462,142 | ||||||
United Rentals North America, Inc. | 4,669,000 | 4,822,120 | ||||||
4.875%, 1/15/28 | 6,698,000 | 6,827,857 |
See Notes to Financial Statements. | 51 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Commercial Services (Continued) | ||||||||
5.25%, 1/15/30 | $ | 3,240,000 | $ | 3,375,318 | ||||
4.00%, 7/15/30 | 3,187,000 | 3,143,179 | ||||||
3.875%, 2/15/31 (a) | 4,752,000 | 4,598,582 | ||||||
3.75%, 1/15/32 | 3,233,000 | 3,084,169 | ||||||
Verscend Escrow Corp., 144A, | 4,675,000 | 4,878,877 | ||||||
|
| |||||||
(Cost $196,720,486) | 187,838,063 | |||||||
|
| |||||||
Cosmetics/Personal Care — 0.2% | ||||||||
Coty, Inc. | 3,895,000 | 3,889,703 | ||||||
144A, 6.50%, 4/15/26 (a) | 2,437,000 | 2,479,331 | ||||||
Edgewell Personal Care Co. | 3,287,000 | 3,308,168 | ||||||
144A, 4.125%, 4/1/29 | 2,125,000 | 1,999,125 | ||||||
|
| |||||||
(Cost $12,072,033) | 11,676,327 | |||||||
|
| |||||||
Food — 2.4% | ||||||||
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC | 3,602,000 | 3,472,328 | ||||||
144A, 7.50%, 3/15/26 | 2,308,000 | 2,449,284 | ||||||
144A, 4.625%, 1/15/27 | 5,352,000 | 5,382,118 | ||||||
144A, 5.875%, 2/15/28 | 3,252,000 | 3,366,243 | ||||||
144A, 3.50%, 3/15/29 | 5,921,000 | 5,519,497 | ||||||
144A, 4.875%, 2/15/30 | 4,353,000 | 4,374,765 | ||||||
B&G Foods, Inc. | 4,181,000 | 4,207,110 | ||||||
5.25%, 9/15/27 | 2,337,000 | 2,332,630 | ||||||
Kraft Heinz Foods Co. | 7,765,000 | 7,769,465 | ||||||
3.875%, 5/15/27 | 5,734,000 | 5,958,773 | ||||||
3.75%, 4/1/30 | 3,203,000 | 3,280,833 | ||||||
Lamb Weston Holdings, Inc. | 2,125,000 | 2,184,341 | ||||||
144A, 4.125%, 1/31/30 | 4,089,000 | 3,963,427 | ||||||
144A, 4.375%, 1/31/32 | 2,975,000 | 2,895,448 | ||||||
Performance Food Group, Inc. | 4,505,000 | 4,589,829 | ||||||
144A, 4.25%, 8/1/29 | 4,350,000 | 4,155,555 | ||||||
Pilgrim’s Pride Corp. | 3,312,000 | 3,407,998 | ||||||
144A, 4.25%, 4/15/31 | 4,350,000 | 4,208,625 | ||||||
144A, 3.50%, 3/1/32 | 3,825,000 | 3,505,765 | ||||||
Post Holdings, Inc. | 5,522,000 | 5,582,742 | ||||||
144A, 5.625%, 1/15/28 | 3,769,000 | 3,787,185 | ||||||
144A, 5.50%, 12/15/29 | 5,410,000 | 5,462,477 | ||||||
144A, 4.625%, 4/15/30 | 7,096,000 | 6,696,105 | ||||||
144A, 4.50%, 9/15/31 | 7,649,000 | 7,093,377 | ||||||
Sigma Holdco BV, 144A, | 2,071,000 | 1,825,866 | ||||||
US Foods, Inc. | 4,320,000 | 4,476,514 | ||||||
144A, 4.75%, 2/15/29 | 3,825,000 | 3,788,529 | ||||||
144A, 4.625%, 6/1/30 | 2,125,000 | 2,047,969 | ||||||
|
| |||||||
(Cost $123,670,374) | 117,784,798 | |||||||
|
|
Principal | Value | |||||||
Healthcare-Products — 1.0% | ||||||||
Avantor Funding, Inc. | $ | 6,587,000 | $ | 6,693,709 | ||||
144A, 3.875%, 11/1/29 | 3,400,000 | 3,277,073 | ||||||
Hologic, Inc. | 1,528,000 | 1,579,501 | ||||||
144A, 3.25%, 2/15/29 | 4,085,000 | 3,877,564 | ||||||
Mozart Debt Merger Sub, Inc. | 19,124,000 | 18,076,292 | ||||||
144A, 5.25%, 10/1/29 (a) | 10,724,000 | 10,256,434 | ||||||
Teleflex, Inc. | 2,125,000 | 2,161,136 | ||||||
144A, 4.25%, 6/1/28 | 2,222,000 | 2,198,202 | ||||||
|
| |||||||
(Cost $50,491,579) | 48,119,911 | |||||||
|
| |||||||
Healthcare-Services — 6.6% | ||||||||
Catalent Pharma Solutions, Inc. | 2,125,000 | 2,175,437 | ||||||
144A, 3.125%, 2/15/29 | 2,346,000 | 2,175,927 | ||||||
144A, 3.50%, 4/1/30 | 2,762,000 | 2,574,778 | ||||||
Centene Corp. | 10,847,000 | 11,116,819 | ||||||
2.45%, 7/15/28 | 9,883,000 | 9,324,808 | ||||||
4.625%, 12/15/29 | 14,901,000 | 15,372,691 | ||||||
3.375%, 2/15/30 | 8,488,000 | 8,156,841 | ||||||
3.00%, 10/15/30 | 9,755,000 | 9,313,547 | ||||||
2.50%, 3/1/31 | 9,349,000 | 8,650,116 | ||||||
2.625%, 8/1/31 | 5,665,000 | 5,231,797 | ||||||
Charles River Laboratories International, Inc. | 2,250,000 | 2,234,014 | ||||||
144A, 3.75%, 3/15/29 | 2,125,000 | 2,043,591 | ||||||
144A, 4.00%, 3/15/31 | 2,125,000 | 2,037,609 | ||||||
CHS/Community Health Systems, Inc. | 9,028,000 | 9,379,370 | ||||||
144A, 5.625%, 3/15/27 | 8,374,000 | 8,403,853 | ||||||
144A, 8.00%, 12/15/27 | 2,974,000 | 3,140,455 | ||||||
144A, 6.875%, 4/1/28 (a) | 3,360,000 | 3,109,646 | ||||||
144A, 6.00%, 1/15/29 | 3,825,000 | 3,836,265 | ||||||
144A, 6.875%, 4/15/29 | 7,543,000 | 7,322,971 | ||||||
144A, 6.125%, 4/1/30 (a) | 6,270,000 | 5,838,875 | ||||||
144A, 5.25%, 5/15/30 | 6,700,000 | 6,502,618 | ||||||
144A, 4.75%, 2/15/31 | 4,653,000 | 4,385,592 | ||||||
DaVita, Inc. | 11,787,000 | 11,334,910 | ||||||
144A, 3.75%, 2/15/31 | 6,375,000 | 5,835,101 | ||||||
Encompass Health Corp. | 3,400,000 | 3,314,320 | ||||||
4.75%, 2/1/30 | 3,475,000 | 3,297,080 | ||||||
4.625%, 4/1/31 | 1,700,000 | 1,606,729 | ||||||
Envision Healthcare Corp., 144A, | 4,412,000 | 2,346,037 | ||||||
HCA, Inc. | 5,312,000 | 5,530,456 | ||||||
5.375%, 2/1/25 | 11,098,000 | 11,765,323 | ||||||
5.875%, 2/15/26 | 6,475,000 | 7,005,469 | ||||||
5.375%, 9/1/26 | 4,350,000 | 4,685,950 | ||||||
5.625%, 9/1/28 | 6,480,000 | 7,190,435 |
See Notes to Financial Statements. | 52 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Healthcare-Services (Continued) | ||||||||
5.875%, 2/1/29 | $ | 4,200,000 | $ | 4,710,510 | ||||
3.50%, 9/1/30 | 11,735,000 | 11,635,252 | ||||||
IQVIA, Inc. | 4,562,000 | 4,664,691 | ||||||
144A, 5.00%, 5/15/27 | 4,960,000 | 5,064,755 | ||||||
Legacy LifePoint Health LLC | 2,550,000 | 2,642,998 | ||||||
144A, 4.375%, 2/15/27 | 2,750,000 | 2,609,214 | ||||||
LifePoint Health, Inc., 144A, | 2,125,000 | 1,967,846 | ||||||
ModivCare, Inc., 144A, | 2,167,000 | 2,177,380 | ||||||
Molina Healthcare, Inc. | 3,400,000 | 3,391,381 | ||||||
144A, 3.875%, 11/15/30 | 2,762,000 | 2,716,082 | ||||||
144A, 3.875%, 5/15/32 | 3,187,000 | 3,096,824 | ||||||
Radiology Partners, Inc., 144A, | 3,047,000 | 3,044,593 | ||||||
RegionalCare Hospital Partners Holdings, Inc. / LifePoint Health, Inc., 144A, | 6,056,000 | 6,358,194 | ||||||
Select Medical Corp., 144A, | 5,206,000 | 5,230,728 | ||||||
Tenet Healthcare Corp. | 7,954,000 | 8,280,671 | ||||||
4.625%, 7/15/24 | 3,272,000 | 3,287,902 | ||||||
144A, 4.625%, 9/1/24 | 2,550,000 | 2,587,358 | ||||||
144A, 4.875%, 1/1/26 | 9,324,000 | 9,359,804 | ||||||
144A, 6.25%, 2/1/27 | 6,445,000 | 6,635,385 | ||||||
144A, 5.125%, 11/1/27 | 6,375,000 | 6,438,113 | ||||||
144A, 4.625%, 6/15/28 | 2,562,000 | 2,507,788 | ||||||
144A, 6.125%, 10/1/28 | 10,822,000 | 10,892,559 | ||||||
144A, 4.25%, 6/1/29 | 5,950,000 | 5,749,812 | ||||||
144A, 4.375%, 1/15/30 | 6,162,000 | 5,955,881 | ||||||
|
| |||||||
(Cost $332,904,536) | 317,245,151 | |||||||
|
| |||||||
Household Products/Wares — 0.2% | ||||||||
Central Garden & Pet Co. | 2,125,000 | 2,021,226 | ||||||
144A, 4.125%, 4/30/31 | 1,750,000 | 1,638,647 | ||||||
Kronos Acquisition Holdings, Inc. / KIK Custom Products, Inc. | 2,019,000 | 1,824,449 | ||||||
144A, 7.00%, 12/31/27 (a) | 2,231,000 | 1,866,455 | ||||||
Spectrum Brands, Inc. | 1,912,000 | 1,947,917 | ||||||
144A, 3.875%, 3/15/31 | 2,125,000 | 1,949,475 | ||||||
|
| |||||||
(Cost $12,447,305) | 11,248,169 | |||||||
|
| |||||||
Pharmaceuticals — 3.9% | ||||||||
AdaptHealth LLC | 2,125,000 | 1,919,512 | ||||||
144A, 5.125%, 3/1/30 | 2,550,000 | 2,355,639 | ||||||
Bausch Health Americas, Inc. | 6,375,000 | 6,602,779 | ||||||
144A, 8.50%, 1/31/27 | 7,437,000 | 7,544,688 | ||||||
Bausch Health Cos., Inc. | 7,787,000 | 7,816,201 |
Principal | Value | |||||||
Pharmaceuticals (Continued) | ||||||||
144A, 9.00%, 12/15/25 | $ | 6,657,000 | $ | 6,872,587 | ||||
144A, 6.125%, 2/1/27 | 3,500,000 | 3,533,407 | ||||||
144A, 5.75%, 8/15/27 | 2,259,000 | 2,247,457 | ||||||
144A, 7.00%, 1/15/28 | 3,187,000 | 2,920,885 | ||||||
144A, 5.00%, 1/30/28 | 5,312,000 | 4,457,857 | ||||||
144A, 4.875%, 6/1/28 | 6,850,000 | 6,592,166 | ||||||
144A, 5.00%, 2/15/29 | 4,476,000 | 3,622,270 | ||||||
144A, 6.25%, 2/15/29 | 6,545,000 | 5,593,259 | ||||||
144A, 7.25%, 5/30/29 | 3,237,000 | 2,838,477 | ||||||
144A, 5.25%, 1/30/30 | 5,312,000 | 4,291,724 | ||||||
144A, 5.25%, 2/15/31 (a) | 4,450,000 | 3,545,026 | ||||||
Cheplapharm Arzneimittel GmbH, 144A, | 2,225,000 | 2,226,468 | ||||||
Elanco Animal Health, Inc. | 3,248,000 | 3,349,662 | ||||||
6.40%, 8/28/28 | 3,145,000 | 3,413,268 | ||||||
Endo Dac / Endo Finance LLC / Endo Finco, Inc. | 4,040,000 | 3,945,565 | ||||||
144A, 6.00%, 6/30/28 (a) | 5,441,000 | 3,600,174 | ||||||
Endo Luxembourg Finance Co I Sarl / Endo US, Inc., 144A, | 5,531,000 | 5,193,305 | ||||||
HLF Financing Sarl LLC / Herbalife International, Inc., 144A, | 2,800,000 | 2,573,340 | ||||||
Jazz Securities DAC, 144A, | 6,875,000 | 6,821,513 | ||||||
Organon & Co. / Organon Foreign Debt Co.-Issuer BV | 8,924,000 | 8,792,817 | ||||||
144A, 5.125%, 4/30/31 | 8,649,000 | 8,592,695 | ||||||
Par Pharmaceutical, Inc., 144A, | 8,684,000 | 8,694,030 | ||||||
Perrigo Finance Unlimited Co. | 2,985,000 | 2,982,673 | ||||||
4.375%, 3/15/26 | 3,047,000 | 3,058,335 | ||||||
3.90%, 6/15/30 | 3,187,000 | 2,924,353 | ||||||
Prestige Brands, Inc. | 1,820,000 | 1,824,596 | ||||||
144A, 3.75%, 4/1/31 | 2,550,000 | 2,353,140 | ||||||
Teva Pharmaceutical Finance Netherlands III BV | 6,179,000 | 6,059,745 | ||||||
6.00%, 4/15/24 (a) | 5,604,000 | 5,711,989 | ||||||
7.125%, 1/31/25 | 4,442,000 | 4,670,008 | ||||||
3.15%, 10/1/26 (a) | 14,874,000 | 13,516,748 | ||||||
4.75%, 5/9/27 | 4,250,000 | 4,101,250 | ||||||
6.75%, 3/1/28 (a) | 5,340,000 | 5,610,765 | ||||||
5.125%, 5/9/29 (a) | 4,470,000 | 4,291,144 | ||||||
|
| |||||||
(Cost $201,575,629) | 187,061,517 | |||||||
|
| |||||||
Energy — 12.2% |
| |||||||
Energy-Alternate Sources — 0.1% | ||||||||
TerraForm Power Operating LLC | 2,975,000 | 2,987,793 | ||||||
144A, 4.75%, 1/15/30 | 3,125,000 | 3,072,328 | ||||||
|
| |||||||
(Cost $6,553,506) | 6,060,121 | |||||||
|
|
See Notes to Financial Statements. | 53 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Oil & Gas — 6.3% | ||||||||
Antero Resources Corp. | $ | 2,507,000 | $ | 2,538,337 | ||||
144A, 7.625%, 2/1/29 | 2,482,000 | 2,689,905 | ||||||
144A, 5.375%, 3/1/30 (a) | 2,550,000 | 2,602,377 | ||||||
Apache Corp. | 2,052,000 | 2,120,916 | ||||||
4.375%, 10/15/28 | 2,987,000 | 3,029,386 | ||||||
4.25%, 1/15/30 (a) | 2,463,000 | 2,485,709 | ||||||
Ascent Resources Utica Holdings LLC / ARU Finance Corp. | 2,650,000 | 2,621,380 | ||||||
144A, 5.875%, 6/30/29 | 1,700,000 | 1,620,312 | ||||||
Callon Petroleum Co. | 2,015,000 | 2,009,459 | ||||||
144A, 8.00%, 8/1/28 (a) | 2,812,000 | 2,927,897 | ||||||
Calumet Specialty Products Partners LP / Calumet Finance Corp., 144A, | 2,337,000 | 2,463,712 | ||||||
Chesapeake Energy Corp. | 2,175,000 | 2,237,738 | ||||||
144A, 5.875%, 2/1/29 | 2,175,000 | 2,254,018 | ||||||
144A, 6.75%, 4/15/29 | 4,037,000 | 4,273,750 | ||||||
Citgo Holding, Inc., 144A, | 5,922,000 | 5,962,092 | ||||||
CITGO Petroleum Corp. | 4,781,000 | 4,786,474 | ||||||
144A, 6.375%, 6/15/26 | 2,762,000 | 2,748,590 | ||||||
CNX Resources Corp. | 3,075,000 | 3,236,407 | ||||||
144A, 6.00%, 1/15/29 | 2,125,000 | 2,173,450 | ||||||
Colgate Energy Partners III LLC, 144A, | 2,975,000 | 3,067,850 | ||||||
Comstock Resources, Inc. | 5,333,000 | 5,432,860 | ||||||
144A, 5.875%, 1/15/30 | 4,326,000 | 4,203,964 | ||||||
CrownRock LP / CrownRock Finance, Inc. | 5,036,000 | 5,099,277 | ||||||
144A, 5.00%, 5/1/29 | 1,800,000 | 1,834,137 | ||||||
CVR Energy, Inc. | 2,550,000 | 2,471,881 | ||||||
144A, 5.75%, 2/15/28 (a) | 2,100,000 | 1,982,148 | ||||||
Endeavor Energy Resources LP / EER Finance, Inc. | 2,641,000 | 2,763,265 | ||||||
144A, 5.75%, 1/30/28 | 4,262,000 | 4,419,566 | ||||||
EQT Corp. | 3,996,000 | 4,321,115 | ||||||
144A, 3.125%, 5/15/26 | 2,125,000 | 2,092,487 | ||||||
3.90%, 10/1/27 | 5,340,700 | 5,402,679 | ||||||
7.50%, 2/1/30 | 3,287,000 | 3,926,338 | ||||||
144A, 3.625%, 5/15/31 (a) | 2,125,000 | 2,069,792 | ||||||
Hilcorp Energy I LP / Hilcorp Finance Co. | 2,618,000 | 2,673,423 | ||||||
144A, 5.75%, 2/1/29 | 2,552,000 | 2,569,213 | ||||||
144A, 6.00%, 2/1/31 | 2,550,000 | 2,592,075 |
Principal | Value | |||||||
Oil & Gas (Continued) | ||||||||
Laredo Petroleum, Inc. | $ | 2,456,000 | $ | 2,531,215 | ||||
144A, 7.75%, 7/31/29 (a) | 1,780,000 | 1,729,208 | ||||||
Leviathan Bond Ltd. | 2,124,495 | 2,143,813 | ||||||
144A, REGS, 6.125%, 6/30/25 | 2,609,379 | 2,671,678 | ||||||
144A, REGS, 6.50%, 6/30/27 | 2,550,379 | 2,624,350 | ||||||
144A, REGS, 6.75%, 6/30/30 | 2,337,668 | 2,381,032 | ||||||
Matador Resources Co., | 4,462,000 | 4,534,508 | ||||||
MEG Energy Corp. | 5,100,000 | 5,335,110 | ||||||
144A, 5.875%, 2/1/29 | 2,657,000 | 2,689,681 | ||||||
Moss Creek Resources Holdings, Inc. | 3,045,000 | 2,700,352 | ||||||
144A, 10.50%, 5/15/27 | 2,125,000 | 2,006,584 | ||||||
Murphy Oil Corp. | 2,332,000 | 2,378,617 | ||||||
5.875%, 12/1/27 | 2,309,000 | 2,355,261 | ||||||
6.375%, 7/15/28 | 2,337,000 | 2,424,579 | ||||||
Nabors Industries Ltd., 144A, | 2,380,000 | 2,324,391 | ||||||
Nabors Industries, Inc. | 2,830,000 | 2,719,630 | ||||||
144A, 7.375%, 5/15/27 | 3,045,000 | 3,147,784 | ||||||
Occidental Petroleum Corp. | 2,506,000 | 2,722,117 | ||||||
2.90%, 8/15/24 | 4,084,000 | 4,093,883 | ||||||
8.00%, 7/15/25 | 2,152,000 | 2,437,463 | ||||||
5.875%, 9/1/25 | 3,825,000 | 4,107,438 | ||||||
5.50%, 12/1/25 | 3,228,000 | 3,473,118 | ||||||
5.55%, 3/15/26 | 4,598,000 | 4,938,413 | ||||||
3.40%, 4/15/26 | 3,309,000 | 3,313,351 | ||||||
3.20%, 8/15/26 | 3,389,000 | 3,394,016 | ||||||
3.00%, 2/15/27 | 2,696,000 | 2,633,493 | ||||||
8.50%, 7/15/27 | 2,125,000 | 2,564,259 | ||||||
6.375%, 9/1/28 | 2,550,000 | 2,886,014 | ||||||
3.50%, 8/15/29 | 6,378,000 | 6,372,738 | ||||||
8.875%, 7/15/30 | 4,250,000 | 5,475,679 | ||||||
6.625%, 9/1/30 | 6,375,000 | 7,428,341 | ||||||
6.125%, 1/1/31 (a) | 5,312,000 | 6,050,527 | ||||||
7.50%, 5/1/31 | 3,695,000 | 4,486,118 | ||||||
7.875%, 9/15/31 | 2,160,000 | 2,674,966 | ||||||
Parkland Corp. | 2,053,000 | 2,080,377 | ||||||
144A, 4.50%, 10/1/29 | 3,505,000 | 3,310,805 | ||||||
144A, 4.625%, 5/1/30 | 3,307,000 | 3,130,241 | ||||||
PBF Holding Co. LLC / PBF Finance Corp. | 5,312,000 | 5,381,375 | ||||||
7.25%, 6/15/25 (a) | 2,841,000 | 2,391,596 | ||||||
6.00%, 2/15/28 | 3,686,000 | 2,702,999 | ||||||
Puma International Financing SA | 2,640,000 | 2,593,721 | ||||||
144A, 5.00%, 1/24/26 | 3,248,000 | 3,187,457 | ||||||
Range Resources Corp. | 2,762,000 | 2,799,342 |
See Notes to Financial Statements. | 54 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Oil & Gas (Continued) | ||||||||
4.875%, 5/15/25 | $ | 3,406,000 | $ | 3,454,314 | ||||
8.25%, 1/15/29 | 2,550,000 | 2,797,554 | ||||||
144A, 4.75%, 2/15/30 | 1,700,000 | 1,666,340 | ||||||
SM Energy Co. | 1,898,000 | 2,083,416 | ||||||
6.75%, 9/15/26 (a) | 1,782,000 | 1,802,083 | ||||||
6.625%, 1/15/27 (a) | 1,771,000 | 1,790,844 | ||||||
6.50%, 7/15/28 | 1,700,000 | 1,744,566 | ||||||
Southwestern Energy Co. | 1,870,000 | 1,982,013 | ||||||
5.375%, 2/1/29 | 2,939,000 | 3,027,199 | ||||||
5.375%, 3/15/30 | 5,100,000 | 5,269,422 | ||||||
4.75%, 2/1/32 | 5,037,000 | 5,016,651 | ||||||
Sunoco LP / Sunoco Finance Corp. | 2,593,000 | 2,680,009 | ||||||
4.50%, 5/15/29 | 3,607,000 | 3,462,900 | ||||||
144A, 4.50%, 4/30/30 | 3,300,000 | 3,157,820 | ||||||
Transocean, Inc. | 1,760,000 | 1,369,922 | ||||||
144A, 7.50%, 1/15/26 | 2,487,000 | 1,931,491 | ||||||
144A, 11.50%, 1/30/27 | 2,941,000 | 2,946,529 | ||||||
144A, 8.00%, 2/1/27 | 2,619,000 | 1,944,058 | ||||||
|
| |||||||
(Cost $310,441,920) | 303,158,750 | |||||||
|
| |||||||
Oil & Gas Services — 0.6% | ||||||||
Archrock Partners LP / Archrock Partners Finance Corp. | 2,215,000 | 2,276,178 | ||||||
144A, 6.25%, 4/1/28 | 3,600,000 | 3,604,176 | ||||||
CGG SA, 144A, | 2,125,000 | 2,075,891 | ||||||
TechnipFMC PLC, 144A, | 3,044,000 | 3,146,872 | ||||||
USA Compression Partners LP / USA Compression Finance Corp. | 3,081,000 | 3,098,300 | ||||||
6.875%, 9/1/27 | 3,187,000 | 3,193,661 | ||||||
Weatherford International Ltd. | 2,161,000 | 2,239,931 | ||||||
144A, 8.625%, 4/30/30 | 6,714,000 | 6,816,791 | ||||||
|
| |||||||
(Cost $27,165,172) | 26,451,800 | |||||||
|
| |||||||
Pipelines — 5.2% | ||||||||
Antero Midstream Partners LP / Antero Midstream Finance Corp. | 2,383,000 | 2,564,763 | ||||||
144A, 5.75%, 3/1/27 | 2,812,000 | 2,858,061 | ||||||
144A, 5.75%, 1/15/28 | 2,866,000 | 2,912,687 | ||||||
144A, 5.375%, 6/15/29 | 3,187,000 | 3,207,030 | ||||||
Buckeye Partners LP | 2,125,000 | 2,153,624 | ||||||
144A, 4.125%, 3/1/25 | 2,125,000 | 2,098,501 | ||||||
3.95%, 12/1/26 | 2,550,000 | 2,464,677 | ||||||
4.125%, 12/1/27 | 1,827,000 | 1,728,141 | ||||||
144A, 4.50%, 3/1/28 | 2,125,000 | 2,022,182 | ||||||
Cheniere Energy Partners LP | 6,374,000 | 6,475,155 |
Principal | Value | |||||||
Pipelines (Continued) | ||||||||
4.00%, 3/1/31 | $ | 6,369,000 | $ | 6,283,114 | ||||
144A, 3.25%, 1/31/32 | 5,100,000 | 4,802,772 | ||||||
Cheniere Energy, Inc., | 8,898,000 | 9,065,638 | ||||||
CQP Holdco LP / BIP-V Chinook Holdco LLC, 144A, | 6,050,000 | 6,027,312 | ||||||
Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp. | 2,125,000 | 2,141,012 | ||||||
144A, 5.625%, 5/1/27 | 2,550,000 | 2,535,312 | ||||||
144A, 6.00%, 2/1/29 | 2,975,000 | 2,997,937 | ||||||
144A, 8.00%, 4/1/29 | 1,500,000 | 1,597,950 | ||||||
DCP Midstream Operating LP | 1,797,000 | 1,819,400 | ||||||
5.375%, 7/15/25 | 3,634,000 | 3,853,130 | ||||||
5.625%, 7/15/27 | 2,125,000 | 2,285,831 | ||||||
5.125%, 5/15/29 | 2,550,000 | 2,688,248 | ||||||
3.25%, 2/15/32 | 1,600,000 | 1,494,032 | ||||||
DT Midstream, Inc. | 4,775,000 | 4,628,193 | ||||||
144A, 4.375%, 6/15/31 | 4,250,000 | 4,158,604 | ||||||
EnLink Midstream LLC, | 2,166,000 | 2,158,592 | ||||||
EnLink Midstream Partners LP | 2,262,000 | 2,306,533 | ||||||
4.15%, 6/1/25 | 3,112,000 | 3,120,013 | ||||||
4.85%, 7/15/26 | 2,111,000 | 2,139,984 | ||||||
EQM Midstream Partners LP | 2,601,000 | 2,617,490 | ||||||
4.00%, 8/1/24 | 1,978,000 | 1,940,932 | ||||||
144A, 6.00%, 7/1/25 | 2,998,000 | 3,061,902 | ||||||
4.125%, 12/1/26 | 2,064,000 | 1,974,660 | ||||||
144A, 6.50%, 7/1/27 | 3,896,000 | 4,055,502 | ||||||
5.50%, 7/15/28 | 3,856,000 | 3,801,283 | ||||||
144A, 4.50%, 1/15/29 | 3,400,000 | 3,180,598 | ||||||
144A, 4.75%, 1/15/31 | 4,675,000 | 4,389,264 | ||||||
Genesis Energy LP / Genesis Energy Finance Corp. | 2,343,000 | 2,286,827 | ||||||
8.00%, 1/15/27 | 4,300,000 | 4,353,750 | ||||||
7.75%, 2/1/28 | 3,064,000 | 3,030,832 | ||||||
Hess Midstream Operations LP | 3,378,000 | 3,466,723 | ||||||
144A, 5.125%, 6/15/28 | 2,337,000 | 2,389,816 | ||||||
144A, 4.25%, 2/15/30 | 3,112,000 | 3,009,148 | ||||||
ITT Holdings LLC, 144A, | 5,255,000 | 4,934,340 | ||||||
New Fortress Energy, Inc. | 5,312,000 | 5,116,332 | ||||||
144A, 6.50%, 9/30/26 | 6,375,000 | 6,111,617 | ||||||
NGL Energy Operating LLC / NGL Energy Finance Corp., 144A, | 8,712,000 | 8,758,174 | ||||||
NGL Energy Partners LP / NGL Energy Finance Corp., | 2,108,000 | 2,026,926 |
See Notes to Financial Statements. | 55 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Pipelines (Continued) | ||||||||
NuStar Logistics LP | $ | 2,550,000 | $ | 2,658,592 | ||||
6.00%, 6/1/26 | 2,125,000 | 2,161,826 | ||||||
5.625%, 4/28/27 | 2,385,000 | 2,391,905 | ||||||
6.375%, 10/1/30 | 2,602,000 | 2,640,549 | ||||||
Rockies Express Pipeline LLC | 1,700,000 | 1,668,108 | ||||||
144A, 4.95%, 7/15/29 | 2,387,000 | 2,313,409 | ||||||
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp. | 2,550,000 | 2,681,108 | ||||||
144A, 6.00%, 3/1/27 | 1,927,000 | 1,930,151 | ||||||
144A, 5.50%, 1/15/28 | 3,187,000 | 3,052,679 | ||||||
144A, 6.00%, 12/31/30 | 3,237,000 | 3,100,382 | ||||||
144A, 6.00%, 9/1/31 | 2,125,000 | 2,006,298 | ||||||
Targa Resources Partners LP / Targa Resources Partners Finance Corp. | 4,302,000 | 4,446,655 | ||||||
5.375%, 2/1/27 | 1,836,000 | 1,888,849 | ||||||
6.50%, 7/15/27 | 3,067,000 | 3,255,099 | ||||||
5.00%, 1/15/28 | 3,407,000 | 3,522,174 | ||||||
6.875%, 1/15/29 | 2,887,000 | 3,146,339 | ||||||
5.50%, 3/1/30 | 4,253,000 | 4,516,601 | ||||||
4.875%, 2/1/31 | 4,300,000 | 4,436,052 | ||||||
4.00%, 1/15/32 | 4,300,000 | 4,252,851 | ||||||
Venture Global Calcasieu Pass LLC | 5,537,000 | 5,430,274 | ||||||
144A, 4.125%, 8/15/31 | 5,312,000 | 5,266,928 | ||||||
144A, 3.875%, 11/1/33 | 5,312,000 | 5,123,451 | ||||||
Western Midstream Operating LP | 3,111,000 | 3,128,282 | ||||||
4.65%, 7/1/26 | 2,015,000 | 2,090,482 | ||||||
4.50%, 3/1/28 | 1,700,000 | 1,768,476 | ||||||
4.75%, 8/15/28 | 1,700,000 | 1,762,399 | ||||||
4.55%, 2/1/30 | 5,200,000 | 5,356,936 | ||||||
|
| |||||||
(Cost $261,514,000) | 251,091,399 | |||||||
|
| |||||||
Financial — 10.6% |
| |||||||
Banks — 0.9% | ||||||||
Commerzbank AG, 144A, | 4,255,000 | 4,577,435 | ||||||
Deutsche Bank AG | 2,154,000 | 2,337,571 | ||||||
3.729%, 1/14/32 (c) | 5,308,000 | 4,979,874 | ||||||
3.742%, 1/7/33 (c) | 5,312,000 | 4,975,813 | ||||||
Freedom Mortgage Corp. | 1,823,000 | 1,821,587 | ||||||
144A, 8.25%, 4/15/25 | 2,292,000 | 2,290,487 | ||||||
144A, 7.625%, 5/1/26 | 2,550,000 | 2,452,794 | ||||||
144A, 6.625%, 1/15/27 | 2,797,000 | 2,585,617 | ||||||
Intesa Sanpaolo SpA | 8,523,000 | 8,784,261 | ||||||
144A, 5.71%, 1/15/26 | 6,497,000 | 6,858,877 | ||||||
144A, 4.198%, 6/1/32 | 3,187,000 | 2,884,880 | ||||||
|
| |||||||
(Cost $46,611,384) | 44,549,196 | |||||||
|
|
Principal | Value | |||||||
Diversified Financial Services — 3.3% | ||||||||
Ally Financial, Inc., | $ | 4,462,000 | $ | 4,757,462 | ||||
Coinbase Global, Inc. | 4,250,000 | 3,880,526 | ||||||
144A, 3.625%, 10/1/31 | 4,375,000 | 3,860,937 | ||||||
Curo Group Holdings Corp., 144A, | 4,250,000 | 3,779,546 | ||||||
Jefferies Finance LLC / JFIN Co.-Issuer Corp., 144A, | 4,250,000 | 4,097,701 | ||||||
LD Holdings Group LLC | 2,125,000 | 2,022,511 | ||||||
144A, 6.125%, 4/1/28 | 2,550,000 | 2,278,884 | ||||||
LPL Holdings, Inc. | 1,950,000 | 1,943,604 | ||||||
144A, 4.00%, 3/15/29 | 3,825,000 | 3,720,845 | ||||||
144A, 4.375%, 5/15/31 | 1,700,000 | 1,660,339 | ||||||
Midcap Financial Issuer Trust | 4,321,000 | 4,216,475 | ||||||
144A, 5.625%, 1/15/30 | 1,729,000 | 1,580,903 | ||||||
Nationstar Mortgage Holdings, Inc. | 2,800,000 | 2,845,542 | ||||||
144A, 5.50%, 8/15/28 | 3,612,000 | 3,606,582 | ||||||
144A, 5.125%, 12/15/30 | 2,901,000 | 2,723,111 | ||||||
144A, 5.75%, 11/15/31 | 2,550,000 | 2,470,070 | ||||||
Navient Corp.MTN, | 3,158,000 | 3,256,593 | ||||||
5.875%, 10/25/24 | 2,125,000 | 2,200,480 | ||||||
6.75%, 6/25/25 | 2,525,000 | 2,625,659 | ||||||
6.75%, 6/15/26 | 2,252,000 | 2,339,276 | ||||||
5.00%, 3/15/27 | 2,975,000 | 2,875,471 | ||||||
4.875%, 3/15/28 | 2,152,000 | 2,015,251 | ||||||
5.50%, 3/15/29 | 3,187,000 | 3,017,372 | ||||||
NFP Corp. | 2,368,000 | 2,264,175 | ||||||
144A, 6.875%, 8/15/28 | 8,737,000 | 8,136,987 | ||||||
OneMain Finance Corp. | 3,719,000 | 3,816,438 | ||||||
6.125%, 3/15/24 | 5,153,000 | 5,313,902 | ||||||
6.875%, 3/15/25 | 5,377,000 | 5,744,410 | ||||||
8.875%, 6/1/25 | 2,006,000 | 2,118,888 | ||||||
7.125%, 3/15/26 | 7,150,000 | 7,759,430 | ||||||
3.50%, 1/15/27 | 3,197,000 | 3,029,030 | ||||||
6.625%, 1/15/28 | 3,400,000 | 3,601,450 | ||||||
3.875%, 9/15/28 | 2,700,000 | 2,505,128 | ||||||
5.375%, 11/15/29 | 3,237,000 | 3,261,278 | ||||||
4.00%, 9/15/30 | 3,802,000 | 3,470,104 | ||||||
PennyMac Financial Services, Inc. | 2,862,000 | 2,850,910 | ||||||
144A, 4.25%, 2/15/29 | 2,762,000 | 2,475,719 | ||||||
144A, 5.75%, 9/15/31 | 2,125,000 | 2,005,660 | ||||||
Rocket Mortgage LLC / Rocket Mortgage Co.-Issuer, Inc. | 4,935,000 | 4,646,993 | ||||||
144A, 3.625%, 3/1/29 | 3,187,000 | 2,990,012 | ||||||
144A, 3.875%, 3/1/31 | 5,364,000 | 5,030,413 | ||||||
144A, 4.00%, 10/15/33 | 3,612,000 | 3,367,865 |
See Notes to Financial Statements. | 56 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Diversified Financial Services (Continued) | ||||||||
SLM Corp. | $ | 2,162,000 | $ | 2,175,426 | ||||
3.125%, 11/2/26 | 2,046,000 | 1,963,884 | ||||||
United Wholesale Mortgage LLC | 3,400,000 | 3,277,073 | ||||||
144A, 5.75%, 6/15/27 | 2,125,000 | 2,034,199 | ||||||
144A, 5.50%, 4/15/29 (a) | 3,075,000 | 2,818,929 | ||||||
VistaJet Malta Finance PLC / XO Management Holding, Inc., 144A, | 4,492,000 | 4,283,212 | ||||||
|
| |||||||
(Cost $168,395,126) | 158,716,655 | |||||||
|
| |||||||
Insurance — 0.9% | ||||||||
Acrisure LLC / Acrisure Finance, Inc. | 3,931,000 | 3,895,896 | ||||||
144A, 10.125%, 8/1/26 | 1,544,000 | 1,637,921 | ||||||
144A, 4.25%, 2/15/29 | 2,875,000 | 2,706,007 | ||||||
144A, 6.00%, 8/1/29 | 2,181,000 | 1,970,075 | ||||||
Alliant Holdings Intermediate LLC / Alliant Holdings Co.-Issuer, 144A, | 2,014,000 | 1,903,834 | ||||||
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer | 3,187,000 | 3,079,614 | ||||||
144A, 6.75%, 10/15/27 | 5,695,000 | 5,573,298 | ||||||
AssuredPartners, Inc. | 2,184,000 | 2,164,344 | ||||||
144A, 5.625%, 1/15/29 | 2,337,000 | 2,153,499 | ||||||
HUB International Ltd. | 7,697,000 | 7,756,267 | ||||||
144A, 5.625%, 12/1/29 | 2,337,000 | 2,223,071 | ||||||
MGIC Investment Corp., | 2,812,000 | 2,852,662 | ||||||
Radian Group, Inc. | 2,012,000 | 2,034,555 | ||||||
6.625%, 3/15/25 | 2,231,000 | 2,364,827 | ||||||
4.875%, 3/15/27 | 1,912,000 | 1,977,381 | ||||||
|
| |||||||
(Cost $46,210,767) | 44,293,251 | |||||||
|
| |||||||
Real Estate — 0.6% | ||||||||
Howard Hughes Corp. | 3,190,000 | 3,228,471 | ||||||
144A, 4.125%, 2/1/29 | 2,762,000 | 2,615,241 | ||||||
144A, 4.375%, 2/1/31 | 2,862,000 | 2,698,551 | ||||||
Kennedy-Wilson, Inc. | 2,550,000 | 2,495,813 | ||||||
4.75%, 2/1/30 | 2,600,000 | 2,491,138 | ||||||
5.00%, 3/1/31 | 2,550,000 | 2,478,524 | ||||||
Realogy Group LLC / Realogy Co.-Issuer Corp. | 1,729,000 | 1,769,770 | ||||||
144A, 5.75%, 1/15/29 | 4,025,000 | 3,998,636 | ||||||
144A, 5.25%, 4/15/30 | 4,350,000 | 4,151,314 | ||||||
WeWork Cos. LLC / WW Co.-Obligor, Inc., 144A, | 2,382,000 | 2,005,358 |
Principal | Value | |||||||
Real Estate (Continued) | ||||||||
WeWork Cos., Inc., 144A, | $ | 2,843,000 | $ | 2,578,075 | ||||
|
| |||||||
(Cost $31,844,963) | 30,510,891 | |||||||
|
| |||||||
Real Estate Investment Trusts — 4.3% | ||||||||
Apollo Commercial Real Estate Finance, Inc., 144A, | 2,125,000 | 1,921,467 | ||||||
Blackstone Mortgage Trust, Inc., 144A, | 1,750,000 | 1,656,244 | ||||||
Brookfield Property REIT, Inc. / BPR Cumulus LLC / BPR Nimbus LLC / GGSI Sellco LL | 4,017,000 | 3,971,046 | ||||||
144A, 4.50%, 4/1/27 | 3,187,000 | 2,977,423 | ||||||
Diversified Healthcare Trust | 4,557,000 | 4,819,392 | ||||||
4.75%, 2/15/28 | 2,158,000 | 1,954,425 | ||||||
4.375%, 3/1/31 | 2,125,000 | 1,828,446 | ||||||
HAT Holdings I LLC / HAT Holdings II LLC | 1,721,000 | 1,777,191 | ||||||
144A, 3.375%, 6/15/26 | 4,274,000 | 4,057,223 | ||||||
Iron Mountain, Inc. | 4,324,000 | 4,320,065 | ||||||
144A, 5.25%, 3/15/28 | 3,706,000 | 3,713,412 | ||||||
144A, 5.00%, 7/15/28 | 2,125,000 | 2,108,595 | ||||||
144A, 4.875%, 9/15/29 | 4,250,000 | 4,107,923 | ||||||
144A, 5.25%, 7/15/30 | 5,525,000 | 5,477,844 | ||||||
144A, 4.50%, 2/15/31 | 4,675,000 | 4,377,530 | ||||||
144A, 5.625%, 7/15/32 | 2,550,000 | 2,526,374 | ||||||
iStar, Inc. | 3,290,000 | 3,314,527 | ||||||
4.25%, 8/1/25 | 2,346,000 | 2,328,757 | ||||||
5.50%, 2/15/26 | 1,406,000 | 1,440,728 | ||||||
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp. | 2,770,000 | 2,702,260 | ||||||
144A, 4.75%, 6/15/29 | 2,762,000 | 2,680,549 | ||||||
MGM Growth Properties Operating Partnership LP / MGP Finance Co-Issuer, Inc. | 6,011,000 | 6,247,373 | ||||||
144A, 4.625%, 6/15/25 | 4,753,000 | 4,903,100 | ||||||
4.50%, 9/1/26 | 2,807,000 | 2,866,859 | ||||||
5.75%, 2/1/27 | 4,196,000 | 4,545,086 | ||||||
144A, 3.875%, 2/15/29 | 6,795,000 | 6,841,206 | ||||||
MPT Operating Partnership LP / MPT Finance Corp. | 2,148,000 | 2,193,387 | ||||||
5.00%, 10/15/27 | 5,515,000 | 5,641,404 | ||||||
4.625%, 8/1/29 | 3,866,000 | 3,887,282 | ||||||
3.50%, 3/15/31 | 5,645,000 | 5,327,412 | ||||||
Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co.-Issuer | 1,546,000 | 1,617,410 |
See Notes to Financial Statements. | 57 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Real Estate Investment Trusts (Continued) | ||||||||
144A, 5.875%, 10/1/28 | $ | 3,181,000 | $ | 3,232,548 | ||||
144A, 4.875%, 5/15/29 | 3,187,000 | 3,075,455 | ||||||
RHP Hotel Properties LP / RHP Finance Corp. | 3,367,500 | 3,302,659 | ||||||
144A, 4.50%, 2/15/29 | 2,585,000 | 2,446,056 | ||||||
RLJ Lodging Trust LP | 2,125,000 | 2,072,513 | ||||||
144A, 4.00%, 9/15/29 | 2,125,000 | 1,999,019 | ||||||
SBA Communications Corp. | 6,844,000 | 6,835,958 | ||||||
3.125%, 2/1/29 | 6,548,000 | 6,090,098 | ||||||
Service Properties Trust | 2,125,000 | 2,106,980 | ||||||
4.35%, 10/1/24 | 3,506,000 | 3,361,272 | ||||||
7.50%, 9/15/25 | 3,400,000 | 3,575,100 | ||||||
4.75%, 10/1/26 | 1,912,000 | 1,771,917 | ||||||
4.95%, 2/15/27 (a) | 1,700,000 | 1,583,898 | ||||||
5.50%, 12/15/27 | 2,012,000 | 1,971,760 | ||||||
3.95%, 1/15/28 | 1,700,000 | 1,477,062 | ||||||
4.95%, 10/1/29 | 1,806,000 | 1,635,902 | ||||||
4.375%, 2/15/30 | 1,700,000 | 1,486,259 | ||||||
Starwood Property Trust, Inc. | 1,700,000 | 1,663,671 | ||||||
4.75%, 3/15/25 | 2,161,000 | 2,186,040 | ||||||
144A, 3.625%, 7/15/26 | 1,729,000 | 1,639,040 | ||||||
144A, 4.375%, 1/15/27 | 2,161,000 | 2,100,942 | ||||||
Uniti Group LP / Uniti Fiber Holdings, Inc. / CSL Capital LLC | 9,562,000 | 9,961,453 | ||||||
144A, 6.00%, 1/15/30 | 2,990,000 | 2,678,158 | ||||||
Uniti Group LP / Uniti Group Finance, Inc. / CSL Capital LLC | 2,838,000 | 2,705,976 | ||||||
144A, 6.50%, 2/15/29 | 4,717,000 | 4,379,192 | ||||||
VICI Properties LP / VICI Note Co., Inc. | 3,262,000 | 3,273,662 | ||||||
144A, 4.25%, 12/1/26 | 5,312,000 | 5,371,096 | ||||||
144A, 3.75%, 2/15/27 | 3,402,000 | 3,382,217 | ||||||
144A, 4.625%, 12/1/29 | 4,400,000 | 4,495,194 | ||||||
144A, 4.125%, 8/15/30 | 4,250,000 | 4,224,564 | ||||||
XHR LP | 2,125,000 | 2,191,013 | ||||||
144A, 4.875%, 6/1/29 | 2,125,000 | 2,060,899 | ||||||
|
| |||||||
(Cost $217,540,999) | 208,469,513 | |||||||
|
| |||||||
Venture Capital — 0.6% | ||||||||
Compass Group Diversified Holdings LLC, 144A, | 4,250,000 | 4,113,278 | ||||||
Icahn Enterprises LP / Icahn Enterprises Finance Corp. | 4,714,000 | 4,684,137 | ||||||
6.375%, 12/15/25 | 3,172,000 | 3,219,104 | ||||||
6.25%, 5/15/26 | 5,007,000 | 5,049,985 | ||||||
5.25%, 5/15/27 | 6,203,000 | 6,168,790 | ||||||
4.375%, 2/1/29 | 3,243,000 | 3,013,266 | ||||||
|
| |||||||
(Cost $27,428,054) | 26,248,560 | |||||||
|
|
Principal | Value | |||||||
Industrial — 8.1% | ||||||||
Aerospace/Defense — 2.4% | ||||||||
Bombardier, Inc. | $ | 4,318,000 | $ | 4,473,772 | ||||
144A, 7.50%, 3/15/25 | 5,978,000 | 5,969,362 | ||||||
144A, 7.125%, 6/15/26 | 5,162,000 | 5,160,864 | ||||||
144A, 7.875%, 4/15/27 (a) | 8,769,000 | 8,829,331 | ||||||
144A, 6.00%, 2/15/28 (a) | 3,187,000 | 3,048,047 | ||||||
Howmet Aerospace, Inc. | 5,016,000 | 5,269,207 | ||||||
6.875%, 5/1/25 | 2,550,000 | 2,811,623 | ||||||
3.00%, 1/15/29 | 2,975,000 | 2,827,589 | ||||||
Rolls-Royce PLC | 4,380,000 | 4,282,764 | ||||||
144A, 5.75%, 10/15/27 | 4,250,000 | 4,385,936 | ||||||
Spirit AeroSystems, Inc. | 2,147,000 | 2,208,993 | ||||||
144A, 7.50%, 4/15/25 | 4,996,000 | 5,188,346 | ||||||
4.60%, 6/15/28 (a) | 3,134,000 | 2,996,370 | ||||||
TransDigm, Inc. | 4,713,000 | 4,926,782 | ||||||
144A, 6.25%, 3/15/26 | 18,878,000 | 19,487,665 | ||||||
6.375%, 6/15/26 | 4,037,000 | 4,120,344 | ||||||
7.50%, 3/15/27 | 2,356,000 | 2,437,871 | ||||||
5.50%, 11/15/27 | 11,020,000 | 10,949,307 | ||||||
4.625%, 1/15/29 | 5,178,000 | 4,909,872 | ||||||
4.875%, 5/1/29 | 3,186,000 | 3,030,842 | ||||||
Triumph Group, Inc. | 2,393,000 | 2,556,023 | ||||||
144A, 6.25%, 9/15/24 | 2,433,000 | 2,417,210 | ||||||
7.75%, 8/15/25 (a) | 2,250,000 | 2,260,687 | ||||||
|
| |||||||
(Cost $117,112,937) | 114,548,807 | |||||||
|
| |||||||
Building Materials — 0.9% | ||||||||
Builders FirstSource, Inc. | 2,203,000 | 2,293,797 | ||||||
144A, 5.00%, 3/1/30 | 2,337,000 | 2,374,859 | ||||||
144A, 4.25%, 2/1/32 | 5,625,000 | 5,396,541 | ||||||
Griffon Corp., | 4,647,000 | 4,625,159 | ||||||
JELD-WEN, Inc. | 1,700,000 | 1,670,717 | ||||||
144A, 4.875%, 12/15/27 (a) | 1,700,000 | 1,655,451 | ||||||
SRM Escrow Issuer LLC, 144A, | 4,675,000 | 4,669,624 | ||||||
Standard Industries, Inc. | 3,612,000 | 3,639,036 | ||||||
144A, 4.75%, 1/15/28 | 4,250,000 | 4,172,182 | ||||||
144A, 4.375%, 7/15/30 | 6,900,000 | 6,543,581 | ||||||
144A, 3.375%, 1/15/31 | 4,687,000 | 4,154,158 | ||||||
Summit Materials LLC / Summit Materials Finance Corp., 144A, | 2,975,000 | 2,990,039 | ||||||
|
| |||||||
(Cost $46,920,661) | 44,185,144 | |||||||
|
| |||||||
Electrical Components & Equipment — 0.4% | ||||||||
Energizer Holdings, Inc. | 2,600,000 | 2,472,795 | ||||||
144A, 4.375%, 3/31/29 (a) | 3,525,000 | 3,185,719 |
See Notes to Financial Statements. | 58 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Electrical Components & Equipment (Continued) | ||||||||
WESCO Distribution, Inc. | $ | 6,526,000 | $ | 6,847,014 | ||||
144A, 7.25%, 6/15/28 | 5,631,000 | 6,009,347 | ||||||
|
| |||||||
(Cost $19,242,529) | 18,514,875 | |||||||
|
| |||||||
Electronics — 0.6% | ||||||||
II-VI, Inc., 144A, | 4,207,000 | 4,204,013 | ||||||
Imola Merger Corp., 144A, | 8,499,000 | 8,256,438 | ||||||
Sensata Technologies BV | 2,125,000 | 2,180,452 | ||||||
144A, 5.625%, 11/1/24 | 1,700,000 | 1,793,160 | ||||||
144A, 5.00%, 10/1/25 | 3,200,000 | 3,312,960 | ||||||
144A, 4.00%, 4/15/29 | 4,250,000 | 4,087,459 | ||||||
Sensata Technologies, Inc. | 1,912,000 | 1,862,642 | ||||||
144A, 3.75%, 2/15/31 | 3,187,000 | 2,969,041 | ||||||
|
| |||||||
(Cost $30,292,763) | 28,666,165 | |||||||
|
| |||||||
Engineering & Construction — 0.2% | ||||||||
Brand Industrial Services, Inc., 144A, | 4,275,000 | 3,929,601 | ||||||
Fluor Corp., | 2,511,000 | 2,457,968 | ||||||
Promontoria Holding 264 BV, 144A, | 1,500,000 | 1,474,800 | ||||||
|
| |||||||
(Cost $8,424,415) | 7,862,369 | |||||||
|
| |||||||
Environmental Control — 0.7% | ||||||||
Covanta Holding Corp. | 3,271,000 | 3,134,055 | ||||||
5.00%, 9/1/30 | 1,710,000 | 1,645,362 | ||||||
GFL Environmental, Inc. | 2,250,000 | 2,249,696 | ||||||
144A, 3.75%, 8/1/25 | 3,187,000 | 3,158,986 | ||||||
144A, 5.125%, 12/15/26 | 2,125,000 | 2,172,154 | ||||||
144A, 4.00%, 8/1/28 (a) | 3,187,000 | 2,951,385 | ||||||
144A, 3.50%, 9/1/28 | 3,187,000 | 3,047,824 | ||||||
144A, 4.75%, 6/15/29 | 3,187,000 | 3,015,699 | ||||||
144A, 4.375%, 8/15/29 | 2,337,000 | 2,173,609 | ||||||
Madison IAQ LLC | 2,975,000 | 2,818,217 | ||||||
144A, 5.875%, 6/30/29 | 4,391,000 | 3,990,431 | ||||||
Stericycle, Inc. | 2,650,000 | 2,712,574 | ||||||
144A, 3.875%, 1/15/29 | 2,125,000 | 1,981,892 | ||||||
|
| |||||||
(Cost $37,271,398) | 35,051,884 | |||||||
|
| |||||||
Machinery-Diversified — 0.2% | ||||||||
TK Elevator Holdco GmbH, 144A, | 1,702,000 | 1,733,487 | ||||||
TK Elevator US Newco, Inc., 144A, | 6,795,000 | 6,735,306 | ||||||
|
| |||||||
(Cost $8,908,634) | 8,468,793 | |||||||
|
|
Principal | Value | |||||||
Miscellaneous Manufacturing — 0.1% | ||||||||
FXI Holdings, Inc. | $ | 2,145,000 | $ | 2,115,431 | ||||
144A, 12.25%, 11/15/26 | 3,237,000 | 3,467,669 | ||||||
Hillenbrand, Inc., | 1,700,000 | 1,764,421 | ||||||
|
| |||||||
(Cost $7,503,301) | 7,347,521 | |||||||
|
| |||||||
Packaging & Containers — 2.2% | ||||||||
Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC | 2,550,000 | 2,401,641 | ||||||
144A, 4.00%, 9/1/29 | 4,512,000 | 4,237,625 | ||||||
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc. | 3,001,000 | 3,031,040 | ||||||
144A, 4.125%, 8/15/26 | 4,968,000 | 4,814,787 | ||||||
144A, 5.25%, 8/15/27 | 4,250,000 | 4,044,632 | ||||||
144A, 5.25%, 8/15/27 | 3,469,000 | 3,301,372 | ||||||
Ball Corp. | 4,250,000 | 4,345,200 | ||||||
5.25%, 7/1/25 | 4,250,000 | 4,509,888 | ||||||
4.875%, 3/15/26 | 3,337,000 | 3,489,868 | ||||||
2.875%, 8/15/30 | 5,525,000 | 5,059,325 | ||||||
3.125%, 9/15/31 | 3,612,000 | 3,315,527 | ||||||
Berry Global, Inc., 144A, | 2,246,000 | 2,304,138 | ||||||
Flex Acquisition Co., Inc. | 2,758,000 | 2,767,074 | ||||||
144A, 7.875%, 7/15/26 | 2,222,000 | 2,293,660 | ||||||
Graphic Packaging International LLC | 1,912,000 | 1,819,067 | ||||||
144A, 3.75%, 2/1/30 | 1,754,000 | 1,673,825 | ||||||
LABL, Inc. | 2,975,000 | 2,985,963 | ||||||
144A, 10.50%, 7/15/27 | 2,961,000 | 3,040,414 | ||||||
144A, 5.875%, 11/1/28 | 2,146,000 | 2,058,175 | ||||||
144A, 8.25%, 11/1/29 | 1,980,000 | 1,845,113 | ||||||
Mauser Packaging Solutions Holding Co. | 6,290,000 | 6,264,840 | ||||||
144A, 7.25%, 4/15/25 | 5,877,000 | 5,784,643 | ||||||
OI European Group BV, 144A, | 1,700,000 | 1,629,867 | ||||||
Owens-Brockway Glass Container, Inc. | 2,888,000 | 2,941,818 | ||||||
144A, 6.625%, 5/13/27 | 3,125,000 | 3,245,500 | ||||||
Pactiv Evergreen Group Issuer Inc/Pactiv Evergreen Group Issuer LLC/Reynolds Gro, 144A, | 4,250,000 | 3,937,391 | ||||||
Sealed Air Corp. | 1,806,000 | 1,839,799 | ||||||
144A, 5.125%, 12/1/24 | 1,806,000 | 1,871,350 | ||||||
144A, 5.50%, 9/15/25 | 1,746,000 | 1,831,135 | ||||||
144A, 4.00%, 12/1/27 | 1,906,000 | 1,890,113 | ||||||
Silgan Holdings, Inc., | 2,422,000 | 2,379,445 |
See Notes to Financial Statements. | 59 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Packaging & Containers (Continued) | ||||||||
Trivium Packaging Finance BV | $ | 4,499,000 | $ | 4,545,295 | ||||
144A, 8.50%, 8/15/27 | 2,802,000 | 2,876,925 | ||||||
|
| |||||||
(Cost $108,843,379) | 104,376,455 | |||||||
|
| |||||||
Transportation — 0.2% | ||||||||
Seaspan Corp., 144A, | 3,197,000 | 3,051,025 | ||||||
XPO Logistics, Inc., 144A, | 4,887,000 | 5,077,837 | ||||||
|
| |||||||
(Cost $8,294,113) | 8,128,862 | |||||||
|
| |||||||
Trucking & Leasing — 0.2% | ||||||||
Fortress Transportation and Infrastructure Investors LLC | 3,612,000 | 3,661,231 | ||||||
144A, 9.75%, 8/1/27 | 1,850,000 | 2,032,697 | ||||||
144A, 5.50%, 5/1/28 | 4,250,000 | 4,066,379 | ||||||
|
| |||||||
(Cost $10,144,059) | 9,760,307 | |||||||
|
| |||||||
Technology — 3.9% |
| |||||||
Computers — 1.2% | ||||||||
Booz Allen Hamilton, Inc. | 3,175,000 | 3,113,215 | ||||||
144A, 4.00%, 7/1/29 | 2,125,000 | 2,100,265 | ||||||
Condor Merger Sub, Inc., 144A, | 8,650,000 | 8,363,555 | ||||||
Diebold Nixdorf, Inc. | 1,821,000 | 1,796,498 | ||||||
144A, 9.375%, 7/15/25 | 3,238,000 | 3,375,647 | ||||||
Exela Intermediate LLC / Exela Finance, Inc., 144A, | 4,544,000 | 2,680,960 | ||||||
NCR Corp. | 2,065,000 | 2,088,283 | ||||||
144A, 5.00%, 10/1/28 | 2,842,000 | 2,806,873 | ||||||
144A, 5.125%, 4/15/29 | 5,111,000 | 5,034,872 | ||||||
144A, 6.125%, 9/1/29 | 2,265,000 | 2,354,762 | ||||||
144A, 5.25%, 10/1/30 | 1,912,000 | 1,852,269 | ||||||
Seagate HDD Cayman | 2,250,000 | 2,314,541 | ||||||
4.875%, 3/1/24 | 2,257,000 | 2,330,465 | ||||||
4.75%, 1/1/25 (a) | 2,121,000 | 2,187,143 | ||||||
4.875%, 6/1/27 | 2,077,000 | 2,137,513 | ||||||
4.091%, 6/1/29 | 2,158,000 | 2,080,927 | ||||||
3.125%, 7/15/29 | 2,125,000 | 1,939,084 | ||||||
4.125%, 1/15/31 | 2,167,000 | 2,054,262 | ||||||
3.375%, 7/15/31 | 2,125,000 | 1,919,821 | ||||||
Vericast Corp., 144A, | 5,304,301 | 5,423,648 | ||||||
|
| |||||||
(Cost $60,922,983) | 57,954,603 | |||||||
|
| |||||||
Office/Business Equipment — 0.3% | ||||||||
Pitney Bowes, Inc., 144A, | 1,700,000 | 1,603,227 | ||||||
Xerox Corp., | 4,250,000 | 4,297,919 |
Principal | Value | |||||||
Office/Business Equipment (Continued) | ||||||||
Xerox Holdings Corp. | $ | 3,123,000 | $ | 3,185,460 | ||||
144A, 5.50%, 8/15/28 (a) | 3,347,000 | 3,344,440 | ||||||
|
| |||||||
(Cost $12,927,417) | 12,431,046 | |||||||
|
| |||||||
Semiconductors — 0.1% | ||||||||
ams-OSRAM AG, 144A, | 2,058,000 | 2,135,298 | ||||||
ON Semiconductor Corp., 144A, | 3,375,000 | 3,350,329 | ||||||
|
| |||||||
(Cost $5,664,975) | 5,485,627 | |||||||
|
| |||||||
Software — 2.3% | ||||||||
Black Knight InfoServ LLC, 144A, | 4,250,000 | 4,034,036 | ||||||
Boxer Parent Co., Inc., 144A, | 2,550,000 | 2,641,800 | ||||||
CDK Global, Inc. | 2,093,000 | 2,194,469 | ||||||
4.875%, 6/1/27 | 2,638,000 | 2,704,860 | ||||||
144A, 5.25%, 5/15/29 | 2,125,000 | 2,181,929 | ||||||
Change Healthcare Holdings LLC / Change Healthcare Finance, Inc., 144A, | 5,656,000 | 5,629,134 | ||||||
Clarivate Science Holdings Corp. | 3,915,000 | 3,705,450 | ||||||
144A, 4.875%, 7/1/29 | 3,916,000 | 3,692,240 | ||||||
Fair Isaac Corp. | 1,561,000 | 1,658,508 | ||||||
144A, 4.00%, 6/15/28 | 4,121,000 | 4,050,449 | ||||||
MicroStrategy, Inc., 144A, | 2,225,000 | 2,149,884 | ||||||
Minerva Merger Sub, Inc., 144A, | 10,286,000 | 9,917,144 | ||||||
MSCI, Inc. | 4,266,000 | 4,295,990 | ||||||
144A, 3.625%, 9/1/30 | 3,775,000 | 3,707,654 | ||||||
144A, 3.875%, 2/15/31 | 4,250,000 | 4,237,250 | ||||||
144A, 3.625%, 11/1/31 | 2,550,000 | 2,508,741 | ||||||
144A, 3.25%, 8/15/33 | 2,975,000 | 2,815,808 | ||||||
Open Text Corp. | 3,825,000 | 3,698,507 | ||||||
144A, 3.875%, 12/1/29 | 3,612,000 | 3,414,424 | ||||||
Open Text Holdings, Inc. | 3,825,000 | 3,668,060 | ||||||
144A, 4.125%, 12/1/31 | 2,762,000 | 2,627,808 | ||||||
PTC, Inc. | 2,222,000 | 2,221,267 | ||||||
144A, 4.00%, 2/15/28 | 2,125,000 | 2,075,477 | ||||||
Rackspace Technology Global, Inc. | 2,337,000 | 2,123,351 | ||||||
144A, 5.375%, 12/1/28 (a) | 2,387,000 | 2,144,827 | ||||||
ROBLOX Corp., 144A, | 4,350,000 | 4,142,505 | ||||||
SS&C Technologies, Inc., 144A, | 8,499,000 | 8,742,241 | ||||||
Twilio, Inc. | 2,125,000 | 2,034,135 |
See Notes to Financial Statements. | 60 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2022 (Unaudited)
Principal | Value | |||||||
Software (Continued) | ||||||||
3.875%, 3/15/31 | $ | 2,125,000 | $ | 1,998,456 | ||||
Veritas US, Inc. / Veritas Bermuda Ltd., 144A, | 7,537,000 | 7,463,891 | ||||||
Ziff Davis, Inc., 144A, | 2,833,000 | 2,729,581 | ||||||
|
| |||||||
(Cost $116,003,612) | 111,209,876 | |||||||
|
| |||||||
Utilities — 2.4% | ||||||||
Electric — 2.2% | ||||||||
Calpine Corp. | 1,910,000 | 1,931,344 | ||||||
144A, 4.50%, 2/15/28 | 5,312,000 | 5,187,885 | ||||||
144A, 5.125%, 3/15/28 | 6,327,000 | 6,101,727 | ||||||
144A, 4.625%, 2/1/29 | 2,672,000 | 2,482,155 | ||||||
144A, 5.00%, 2/1/31 | 3,688,000 | 3,419,882 | ||||||
144A, 3.75%, 3/1/31 | 3,825,000 | 3,487,080 | ||||||
Clearway Energy Operating LLC | 3,712,000 | 3,737,650 | ||||||
144A, 3.75%, 2/15/31 | 4,016,000 | 3,741,948 | ||||||
DPL, Inc., | 1,759,000 | 1,752,333 | ||||||
FirstEnergy Corp. | 6,496,000 | 6,725,926 | ||||||
2.65%, 3/1/30 | 2,500,000 | 2,347,925 | ||||||
Series B, 2.25%, 9/1/30 | 1,869,000 | 1,698,538 | ||||||
NextEra Energy Operating Partners LP | 2,975,000 | 3,037,088 | ||||||
144A, 3.875%, 10/15/26 | 2,125,000 | 2,103,049 | ||||||
144A, 4.50%, 9/15/27 | 2,346,000 | 2,361,566 | ||||||
NRG Energy, Inc. | 3,508,000 | 3,591,280 | ||||||
144A, 3.375%, 2/15/29 | 2,125,000 | 1,977,100 | ||||||
144A, 5.25%, 6/15/29 | 3,115,000 | 3,183,421 | ||||||
144A, 3.625%, 2/15/31 | 4,281,000 | 3,943,251 | ||||||
144A, 3.875%, 2/15/32 | 4,727,000 | 4,392,069 | ||||||
PG&E Corp. | 4,050,000 | 4,016,183 | ||||||
5.25%, 7/1/30 | 4,350,000 | 4,328,076 | ||||||
Talen Energy Supply LLC | 2,306,000 | 949,230 | ||||||
144A, 10.50%, 1/15/26 | 2,591,000 | 1,170,458 | ||||||
144A, 7.25%, 5/15/27 | 3,233,000 | 2,883,238 | ||||||
144A, 6.625%, 1/15/28 | 2,166,000 | 1,882,611 | ||||||
144A, 7.625%, 6/1/28 | 1,725,000 | 1,546,773 | ||||||
Vistra Operations Co. LLC | 4,542,000 | 4,619,237 | ||||||
144A, 5.625%, 2/15/27 | 5,525,000 | 5,667,766 | ||||||
144A, 5.00%, 7/31/27 | 5,525,000 | 5,572,460 | ||||||
144A, 4.375%, 5/1/29 | 5,312,000 | 5,156,730 | ||||||
|
| |||||||
(Cost $113,687,040) | 104,995,979 | |||||||
|
| |||||||
Gas — 0.2% | ||||||||
AmeriGas Partners LP / AmeriGas Finance Corp. | 2,892,000 | 2,953,759 | ||||||
5.50%, 5/20/25 | 2,975,000 | 3,031,212 |
Principal | Value | |||||||
Gas (Continued) | ||||||||
5.875%, 8/20/26 | $ | 2,934,000 | $ | 2,992,680 | ||||
5.75%, 5/20/27 | 2,543,000 | 2,572,575 | ||||||
|
| |||||||
(Cost $12,355,345) | 11,550,226 | |||||||
|
| |||||||
TOTAL CORPORATE BONDS | 4,723,266,914 | |||||||
|
| |||||||
Number | ||||||||
SECURITIES LENDING COLLATERAL — 3.8% | ||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (d)(e) | 181,376,226 | 181,376,226 | ||||||
|
| |||||||
CASH EQUIVALENTS — 0.8% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (d) | 36,045,170 | 36,045,170 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 102.9% | $ | 4,940,688,310 | ||||||
Other assets and liabilities, | (138,287,025 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 4,802,401,285 | ||||||
|
|
See Notes to Financial Statements. | 61 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
February 28, 2022 (Unaudited)
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2022 is as follows:
Value ($) at 8/31/2021 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2022 | Value ($) at 2/28/2022 | ||||||||||||||||||||||||||||
CORPORATE BONDS — 0.2% |
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Financial — 0.2% |
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Deutsche Bank AG, 3.73%, 1/14/2032 (c) |
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7,207,371 | 2,024,956 | (3,631,935 | ) | (26,785 | ) | (593,733 | ) | 124,636 | — | 5,308,000 | 4,979,874 | |||||||||||||||||||||||||
Deutsche Bank AG, 5.88%, 7/8/2031 (c) |
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— | 2,604,667 | (191,260 | ) | (4,602 | ) | (71,234 | ) | 9,896 | — | 2,154,000 | 2,337,571 | |||||||||||||||||||||||||
Deutsche Bank AG, 3.74%, 1/7/2033 (c) |
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— | 6,313,110 | (1,150,205 | ) | (23,401 | ) | (163,691 | ) | 16,147 | — | 5,312,000 | 4,975,813 | |||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 3.8% |
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DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (d)(e) |
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219,083,931 | — | (37,707,705 | )(f) | — | — | 10,061 | — | 181,376,226 | 181,376,226 | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.8% |
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DWS Government Money Market Series “Institutional Shares”, 0.04% (d) |
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168,443,173 | 554,429,485 | (686,827,488 | ) | — | — | 7,500 | — | 36,045,170 | 36,045,170 | |||||||||||||||||||||||||||
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394,734,475 | 565,372,218 | (729,508,593 | ) | (54,788 | ) | (828,658 | ) | 168,240 | — | 230,195,396 | 229,714,654 | |||||||||||||||||||||||||
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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, 2022 amounted to $223,357,220, which is 4.7% of net assets. |
(b) | Defaulted security or security for which income has been deemed uncollectible. |
(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 $51,196,425. |
(f) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2022. |
GMTN: | Global Medium Term Note |
MTN: | Medium Term Note |
REIT: | Real Estate Investment Trust |
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, 2022 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
Assets | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Corporate Bonds (g) | $ | — | $ | 4,723,266,914 | $ | — | $ | 4,723,266,914 | ||||||||
Short-Term Investments (g) | 217,421,396 | — | — | 217,421,396 | ||||||||||||
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TOTAL | $ | 217,421,396 | $ | 4,723,266,914 | $ | — | $ | 4,940,688,310 | ||||||||
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(g) | See Schedule of Investments for additional detailed categorizations. |
See Notes to Financial Statements. | 62 |
This Page is Intentionally Left Blank
63
DBX ETF Trust
February 28, 2022 (Unaudited)
Xtrackers High Beta High Yield Bond ETF | Xtrackers Low Beta High Yield Bond ETF | Xtrackers Risk Managed USD High Yield Strategy ETF | Xtrackers Short Duration High Yield Bond ETF | |||||||||||||
Assets | ||||||||||||||||
Investment in non-affiliated securities at value | $ | 22,355,274 | $ | 1,499,234,097 | $ | — | $ | 86,556,793 | ||||||||
Investment in affiliated securities at value | — | 8,513,441 | 29,166,412 | — | ||||||||||||
Investment in DWS Government Money Market Series | 131,179 | 13,841,389 | 61,597 | 346,281 | ||||||||||||
Investment in DWS Government & Agency Securities Portfolio* | 1,561,891 | 20,540,953 | — | 3,496,240 | ||||||||||||
Cash | — | — | — | 353,131 | ||||||||||||
Receivables: | ||||||||||||||||
Investment securities sold | 899,177 | 38,925,212 | — | 1,726,216 | ||||||||||||
Interest | 347,011 | 19,427,522 | 1 | 1,387,095 | ||||||||||||
Securities lending income | 1,026 | 4,722 | — | 2,072 | ||||||||||||
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Total assets | $ | 25,295,558 | $ | 1,600,487,336 | $ | 29,228,010 | $ | 93,867,828 | ||||||||
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Liabilities | ||||||||||||||||
Payable upon return of securities loaned | $ | 1,561,891 | $ | 20,540,953 | $ | — | $ | 3,496,240 | ||||||||
Payables: | ||||||||||||||||
Investment securities purchased | 997,638 | 48,545,835 | — | 2,557,893 | ||||||||||||
Investment advisory fees | 3,282 | 197,532 | 1,776 | 12,911 | ||||||||||||
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Total liabilities | 2,562,811 | 69,284,320 | 1,776 | 6,067,044 | ||||||||||||
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Net Assets, at value | $ | 22,732,747 | $ | 1,531,203,016 | $ | 29,226,234 | $ | 87,800,784 | ||||||||
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Net Assets Consist of | ||||||||||||||||
Paid-in capital | $ | 34,208,269 | $ | 1,567,615,362 | $ | 29,034,409 | $ | 89,380,029 | ||||||||
Distributable earnings (loss) | (11,475,522 | ) | (36,412,346 | ) | 191,825 | (1,579,245 | ) | |||||||||
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Net Assets, at value | $ | 22,732,747 | $ | 1,531,203,016 | $ | 29,226,234 | $ | 87,800,784 | ||||||||
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Number of Common Shares outstanding | 500,001 | 31,400,001 | 1,175,001 | 1,900,001 | ||||||||||||
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Net Asset Value | $ | 45.47 | $ | 48.76 | $ | 24.87 | $ | 46.21 | ||||||||
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Investment in non-affiliated securities at cost | $ | 23,380,005 | $ | 1,531,716,675 | $ | — | $ | 88,033,699 | ||||||||
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Investment in affiliated securities at cost | $ | — | $ | 8,807,926 | $ | 28,972,812 | $ | — | ||||||||
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Value of securities loaned | $ | 1,999,184 | $ | 29,095,050 | $ | — | $ | 4,335,578 | ||||||||
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Investment in DWS Government Money Market Series at cost | $ | 131,179 | $ | 13,841,389 | $ | 61,597 | $ | 346,281 | ||||||||
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Investment in DWS Government & Agency Securities Portfolio at cost* | $ | 1,561,891 | $ | 20,540,953 | $ | — | $ | 3,496,240 | ||||||||
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Non-cash collateral for securities on loan | $ | 524,247 | $ | 9,610,830 | $ | — | $ | 1,011,020 | ||||||||
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* | Represents collateral on securities loaned. |
See Notes to Financial Statements. | 64 |
DBX ETF Trust
Statements of Assets and Liabilities (Continued)
February 28, 2022 (Unaudited)
Xtrackers USD High Yield Corporate Bond ETF | ||||
Assets | ||||
Investment in non-affiliated securities at value | $ | 4,710,973,656 | ||
Investment in affiliated securities at value | 12,293,258 | |||
Investment in DWS Government Money Market Series | 36,045,170 | |||
Investment in DWS Government & Agency Securities Portfolio* | 181,376,226 | |||
Receivables: | ||||
Investment securities sold | 37,398,721 | |||
Capital shares | 64,998,345 | |||
Interest | 67,199,032 | |||
Securities lending income | 119,872 | |||
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Total assets | $ | 5,110,404,280 | ||
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Liabilities | ||||
Payable upon return of securities loaned | $ | 181,376,226 | ||
Payables: | ||||
Investment securities purchased | 126,039,572 | |||
Investment advisory fees | 587,197 | |||
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Total liabilities | 308,002,995 | |||
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| |||
Net Assets, at value | $ | 4,802,401,285 | ||
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Net Assets Consist of | ||||
Paid-in capital | $ | 5,189,708,930 | ||
Distributable earnings (loss) | (387,307,645 | ) | ||
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Net Assets, at value | $ | 4,802,401,285 | ||
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Number of Common Shares outstanding | 125,587,501 | |||
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Net Asset Value | $ | 38.24 | ||
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Investment in non-affiliated securities at cost | $ | 4,965,333,367 | ||
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Investment in affiliated securities at cost | $ | 12,910,038 | ||
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Value of securities loaned | $ | 223,357,220 | ||
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Investment in DWS Government Money Market Series at cost | $ | 36,045,170 | ||
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Investment in DWS Government & Agency Securities Portfolio at cost* | $ | 181,376,226 | ||
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Non-cash collateral for securities on loan | $ | 51,196,425 | ||
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* | Represents collateral on securities loaned. |
See Notes to Financial Statements. | 65 |
DBX ETF Trust
For the Six Months Ended February 28, 2022 (Unaudited)
Xtrackers High Beta High Yield Bond ETF | Xtrackers Low Beta High Yield Bond ETF | Xtrackers Risk Managed USD High Yield Strategy ETF(1) | Xtrackers Short Duration High Yield Bond ETF | |||||||||||||
Investment Income | ||||||||||||||||
Unaffiliated interest income | $ | 563,883 | $ | 15,032,365 | $ | — | $ | 1,680,950 | ||||||||
Affiliated interest income | — | 55,483 | — | — | ||||||||||||
Income distributions from affiliated funds | 18 | 2,007 | 1 | 549 | ||||||||||||
Affiliated securities lending income | 63 | 423 | — | 119 | ||||||||||||
Unaffiliated securities lending income, net of borrower rebates | 5,430 | 16,170 | — | 8,964 | ||||||||||||
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Total investment income | 569,394 | 15,106,448 | 1 | 1,690,582 | ||||||||||||
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Expenses | ||||||||||||||||
Investment advisory fees | 36,947 | 1,206,461 | 3,574 | 81,702 | ||||||||||||
Other expenses | 57 | 1,147 | — | 172 | ||||||||||||
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Total expenses | 37,004 | 1,207,608 | 3,574 | 81,874 | ||||||||||||
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Less fees waived (see note 3): | ||||||||||||||||
Waiver | (15,982 | ) | (243,153 | ) | (1,798 | ) | (483 | ) | ||||||||
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Net expenses | 21,022 | 964,455 | 1,776 | 81,391 | ||||||||||||
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Net investment income (loss) | 548,372 | 14,141,993 | (1,775 | ) | 1,609,191 | |||||||||||
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Realized and Unrealized Gain (Loss) | ||||||||||||||||
Net realized gain (loss) from: | ||||||||||||||||
Investments | (7,013 | ) | (99,493 | ) | — | 285,649 | ||||||||||
In-kind redemptions | 5,089 | — | — | 59,151 | ||||||||||||
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Net realized gain (loss) | (1,924 | ) | (99,493 | ) | — | 344,800 | ||||||||||
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Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||
Investments | (1,207,827 | ) | (43,321,017 | ) | — | (3,202,181 | ) | |||||||||
Investments in affiliates | — | (356,680 | ) | 193,600 | — | |||||||||||
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Net change in unrealized appreciation (depreciation) | (1,207,827 | ) | (43,677,697 | ) | 193,600 | (3,202,181 | ) | |||||||||
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Net realized and unrealized gain (loss) on investments | (1,209,751 | ) | (43,777,190 | ) | 193,600 | (2,857,381 | ) | |||||||||
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Net Increase (Decrease) in Net Assets Resulting from Operations | $ | (661,379 | ) | $ | (29,635,197 | ) | $ | 191,825 | $ | (1,248,190 | ) | |||||
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(1) | For the period February 10, 2022 (commencement of operations) through February 28, 2022. |
See Notes to Financial Statements. | 66 |
DBX ETF Trust
Statements of Operations (Continued)
For the Six Months Ended February 28, 2022 (Unaudited)
Xtrackers USD High Yield Corporate Bond ETF | ||||
Investment Income | ||||
Unaffiliated interest income | $ | 127,214,198 | ||
Affiliated interest income | 150,679 | |||
Income distributions from affiliated funds | 7,500 | |||
Affiliated securities lending income | 10,061 | |||
Unaffiliated securities lending income, net of borrower rebates | 816,544 | |||
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Total investment income | 128,198,982 | |||
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Expenses | ||||
Investment advisory fees | 6,306,511 | |||
Other expenses | 4,147 | |||
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Total expenses | 6,310,658 | |||
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Less fees waived (see note 3): | ||||
Waiver | (1,583,562 | ) | ||
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Net expenses | 4,727,096 | |||
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Net investment income (loss) | 123,471,886 | |||
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Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) from: | ||||
Investments | 8,145,351 | |||
Investments in affiliates | (20,008 | ) | ||
In-kind redemptions | (38,409,021 | ) | ||
In-kind redemptions in affiliates | (34,780 | ) | ||
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Net realized gain (loss) | (30,318,458 | ) | ||
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Net change in unrealized appreciation (depreciation) on: | ||||
Investments | (282,596,410 | ) | ||
Investments in affiliates | (828,658 | ) | ||
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Net change in unrealized appreciation (depreciation) | (283,425,068 | ) | ||
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Net realized and unrealized gain (loss) on investments | (313,743,526 | ) | ||
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Net Increase (Decrease) in Net Assets Resulting from Operations | $ | (190,271,640 | ) | |
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See Notes to Financial Statements. | 67 |
DBX ETF Trust
Xtrackers High Beta High Yield Bond ETF | Xtrackers Low Beta High Yield Bond ETF | |||||||||||||||
For the Six Months Ended February 28, 2022 (Unaudited) | Year Ended August 31, 2021 | For the Six Months Ended February 28, 2022 (Unaudited) | Year Ended August 31, 2021 | |||||||||||||
Increase (Decrease) in Net Assets from Operations | ||||||||||||||||
Net investment income (loss) | $ | 548,372 | $ | 680,195 | $ | 14,141,993 | $ | 8,011,095 | ||||||||
Net realized gain (loss) | (1,924 | ) | 331,044 | (99,493 | ) | 2,106,618 | ||||||||||
Net change in net unrealized appreciation (depreciation) | (1,207,827 | ) | 178,690 | (43,677,697 | ) | 10,048,247 | ||||||||||
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Net increase (decrease) in net assets resulting from operations | (661,379 | ) | 1,189,929 | (29,635,197 | ) | 20,165,960 | ||||||||||
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Distributions to Shareholders | (588,992 | ) | (825,490 | ) | (14,867,722 | ) | (8,258,522 | ) | ||||||||
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Fund Shares Transactions | ||||||||||||||||
Proceeds from shares sold | 6,992,436 | 11,992,336 | 825,321,667 | 715,759,317 | ||||||||||||
Value of shares redeemed | (2,347,951 | ) | — | — | (15,156,196 | ) | ||||||||||
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Net increase (decrease) in net assets resulting from fund share transactions | 4,644,485 | 11,992,336 | 825,321,667 | 700,603,121 | ||||||||||||
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Total net increase (decrease) in Net Assets | 3,394,114 | 12,356,775 | 780,818,748 | 712,510,559 | ||||||||||||
Net Assets | ||||||||||||||||
Beginning of period | 19,338,633 | 6,981,858 | 750,384,268 | 37,873,709 | ||||||||||||
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End of period | $ | 22,732,747 | $ | 19,338,633 | $ | 1,531,203,016 | $ | 750,384,268 | ||||||||
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Changes in Shares Outstanding | ||||||||||||||||
Shares outstanding, beginning of period | 400,001 | 150,001 | 14,700,001 | 750,001 | ||||||||||||
Shares sold | 150,000 | 250,000 | 16,700,000 | 14,250,000 | ||||||||||||
Shares redeemed | (50,000 | ) | — | — | (300,000 | ) | ||||||||||
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Shares outstanding, end of period | 500,001 | 400,001 | 31,400,001 | 14,700,001 | ||||||||||||
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See Notes to Financial Statements. | 68 |
DBX ETF Trust
Statements of Changes in Net Assets (Continued)
Xtrackers Risk Managed USD High Yield Strategy ETF | Xtrackers Short Duration High Yield Bond ETF | |||||||||||
For the Period February 10, 2022(1) to February 28, 2022 (Unaudited) | For the Six Months Ended February 28, 2022 (Unaudited) | Year Ended August 31, 2021 | ||||||||||
Increase (Decrease) in Net Assets from Operations | ||||||||||||
Net investment income (loss) | $ | (1,775 | ) | $ | 1,609,191 | $ | 2,489,447 | |||||
Net realized gain (loss) | — | 344,800 | 1,271,532 | |||||||||
Net change in net unrealized appreciation (depreciation) | 193,600 | (3,202,181 | ) | 185,876 | ||||||||
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| |||||||
Net increase (decrease) in net assets resulting from operations | 191,825 | (1,248,190 | ) | 3,946,855 | ||||||||
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| |||||||
Distributions to Shareholders | — | (1,748,843 | ) | (2,657,928 | ) | |||||||
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| |||||||
Fund Shares Transactions | ||||||||||||
Proceeds from shares sold | 29,034,384 | 18,867,538 | 45,259,188 | |||||||||
Value of shares redeemed | — | (4,697,674 | ) | (7,179,887 | ) | |||||||
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| |||||||
Net increase (decrease) in net assets resulting from fund share transactions | 29,034,384 | 14,169,864 | 38,079,301 | |||||||||
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| |||||||
Total net increase (decrease) in Net Assets | 29,226,209 | 11,172,831 | 39,368,228 | |||||||||
Net Assets | ||||||||||||
Beginning of period | 25 | 76,627,953 | 37,259,725 | |||||||||
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| |||||||
End of period | $ | 29,226,234 | $ | 87,800,784 | $ | 76,627,953 | ||||||
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| |||||||
Changes in Shares Outstanding | ||||||||||||
Shares outstanding, beginning of period | 1 | 1,600,001 | 800,001 | |||||||||
Shares sold | 1,175,000 | 400,000 | 950,000 | |||||||||
Shares redeemed | — | (100,000 | ) | (150,000 | ) | |||||||
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| |||||||
Shares outstanding, end of period | 1,175,001 | 1,900,001 | 1,600,001 | |||||||||
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|
|
(1) | Commencement of Operations. |
See Notes to Financial Statements. | 69 |
DBX ETF Trust
Statements of Changes in Net Assets (Continued)
Xtrackers USD High Yield Corporate Bond ETF | ||||||||
For the Six Months Ended February 28, 2022 (Unaudited) | Year Ended August 31, 2021 | |||||||
Increase (Decrease) in Net Assets from Operations | ||||||||
Net investment income (loss) | $ | 123,471,886 | $ | 294,840,227 | ||||
Net realized gain (loss) | (30,318,458 | ) | 261,534,954 | |||||
Net change in net unrealized appreciation (depreciation) | (283,425,068 | ) | (13,795,630 | ) | ||||
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| |||||
Net increase (decrease) in net assets resulting from operations | (190,271,640 | ) | 542,579,551 | |||||
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|
| |||||
Distributions to Shareholders | (136,451,771 | ) | (328,072,536 | ) | ||||
|
|
|
| |||||
Fund Shares Transactions | ||||||||
Proceeds from shares sold | 2,229,405,684 | 8,910,076,826 | ||||||
Value of shares redeemed | (3,766,777,870 | ) | (8,666,637,450 | ) | ||||
|
|
|
| |||||
Net increase (decrease) in net assets resulting from fund share transactions | (1,537,372,186 | ) | 243,439,376 | |||||
|
|
|
| |||||
Total net increase (decrease) in Net Assets | (1,864,095,597 | ) | 457,946,391 | |||||
Net Assets | ||||||||
Beginning of period | 6,666,496,882 | 6,208,550,491 | ||||||
|
|
|
| |||||
End of period | $ | 4,802,401,285 | $ | 6,666,496,882 | ||||
|
|
|
| |||||
Changes in Shares Outstanding | ||||||||
Shares outstanding, beginning of period | 165,387,501 | 158,937,501 | * | |||||
Shares sold | 56,200,000 | 224,750,000 | * | |||||
Shares redeemed | (96,000,000 | ) | (218,300,000 | )* | ||||
|
|
|
| |||||
Shares outstanding, end of period | 125,587,501 | 165,387,501 | * | |||||
|
|
|
|
* | Shares through April 12, 2021 have been adjusted to reflect the effects of a stock split effective April 13, 2021. See Note 9. |
See Notes to Financial Statements. | 70 |
DBX ETF Trust
Xtrackers High Beta High Yield Bond ETF Selected Per Share Data | For the Six Months Ended 2/28/2022 (Unaudited) | Years Ended August 31, | Period Ended 8/31/2018(a) | |||||||||||||||||
2021 | 2020 | 2019 | ||||||||||||||||||
Net Asset Value, beginning of period | $ | 48.35 | $ | 46.55 | $ | 48.61 | $ | 49.17 | $ | 50.00 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||
Net investment income (loss)(b) | 1.21 | 2.60 | 3.01 | (c) | 3.32 | 2.07 | ||||||||||||||
Net realized and unrealized gain (loss) | (2.78 | ) | 2.65 | (1.95 | )(c) | (0.58 | ) | (1.11 | ) | |||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total from investment operations | (1.57 | ) | 5.25 | 1.06 | 2.74 | 0.96 | ||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Less distributions from: |
| |||||||||||||||||||
Net investment income | (1.31 | ) | (3.45 | ) | (3.12 | ) | (3.30 | ) | (1.79 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total distributions | (1.31 | ) | (3.45 | ) | (3.12 | ) | (3.30 | ) | (1.79 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net Asset Value, end of period | $ | 45.47 | $ | 48.35 | $ | 46.55 | $ | 48.61 | $ | 49.17 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total Return (%) | (3.32 | )**(d) | 11.67 | (d) | 2.46 | (d) | 5.90 | (d) | 2.01 | ** | ||||||||||
Ratios to Average Net Assets and | ||||||||||||||||||||
Net Assets, end of period ($ millions) | 23 | 19 | 7 | 151 | 148 | |||||||||||||||
Ratio of expenses before fee | 0.35 | * | 0.35 | 0.35 | 0.35 | 0.35 | * | |||||||||||||
Ratio of expenses after fee | 0.20 | * | 0.20 | 0.20 | 0.31 | 0.35 | * | |||||||||||||
Ratio of net investment income | 5.19 | * | 5.45 | 6.50 | (c) | 6.91 | 6.71 | * | ||||||||||||
Portfolio turnover rate (%)(e) | 29 | ** | 98 | 98 | 51 | 34 | ** | |||||||||||||
Xtrackers Low Beta High Yield Bond ETF Selected Per Share Data | For the Six Months Ended 2/28/2022 (Unaudited) | Years Ended August 31, | Period Ended 8/31/2018(a) | |||||||||||||||||
2021 | 2020 | 2019 | ||||||||||||||||||
Net Asset Value, beginning of period | $ | 51.05 | $ | 50.50 | $ | 50.62 | $ | 49.16 | $ | 50.00 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||
Net investment income (loss)(b) | 0.72 | 1.45 | 2.02 | (c) | 2.29 | 1.37 | ||||||||||||||
Net realized and unrealized gain (loss) | (2.20 | ) | 1.07 | 0.12 | (c) | 1.44 | (1.05 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total from investment operations | (1.48 | ) | 2.52 | 2.14 | 3.73 | 0.32 | ||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Less distributions from: | ||||||||||||||||||||
Net investment income | (0.81 | ) | (1.97 | ) | (2.26 | ) | (2.27 | ) | (1.16 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total distributions | (0.81 | ) | (1.97 | ) | (2.26 | ) | (2.27 | ) | (1.16 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net Asset Value, end of period | $ | 48.76 | $ | 51.05 | $ | 50.50 | $ | 50.62 | $ | 49.16 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total Return (%) | (2.93 | )**(d) | 5.12 | (d) | 4.42 | (d) | 7.84 | (d) | 0.68 | ** | ||||||||||
Ratios to Average Net Assets and | ||||||||||||||||||||
Net Assets, end of period ($ millions) | 1,531 | 750 | 38 | 144 | 138 | |||||||||||||||
Ratio of expenses before fee | 0.25 | * | 0.25 | 0.25 | 0.25 | 0.25 | * | |||||||||||||
Ratio of expenses after fee | 0.20 | * | 0.20 | 0.20 | 0.24 | 0.25 | * | |||||||||||||
Ratio of net investment income | 2.93 | * | 2.89 | 4.09 | (c) | 4.66 | 4.44 | * | ||||||||||||
Portfolio turnover rate (%)(e) | 31 | ** | 88 | 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. | 71 |
DBX ETF Trust
Financial Highlights (Continued)
Xtrackers Risk Managed USD High Yield Strategy ETF Selected Per Share Data | Period Ended 2/28/2022(a) (Unaudited) | |||
Net Asset Value, beginning of period | $ | 25.00 | ||
|
| |||
Income (loss) from investment operations: | ||||
Net investment income (loss)(b) | (0.00 | )(c) | ||
Net realized and unrealized gain (loss) | (0.13 | )(d) | ||
|
| |||
Total from investment operations | (0.13 | ) | ||
|
| |||
Net Asset Value, end of period | $ | 24.87 | ||
|
| |||
Total Return (%)(e) | (0.52 | )** | ||
Ratios to Average Net Assets and Supplemental Data | ||||
Net Assets, end of period ($ millions) | 29 | |||
Ratio of expenses before fee waiver (%)(f) | 0.30 | * | ||
Ratio of expenses after fee waiver (%)(f) | 0.15 | * | ||
Ratio of net investment income (loss) (%) | (0.15 | )* | ||
Portfolio turnover rate (%)(g) | 0 | ** |
Xtrackers Short Duration High Yield Bond ETF Selected Per Share Data | For the Six Months Ended 2/28/2022 (Unaudited) | Years Ended August 31, | Period Ended 8/31/2018(h) | |||||||||||||||||
2021 | 2020 | 2019 | ||||||||||||||||||
Net Asset Value, beginning of period | $ | 47.89 | $ | 46.57 | $ | 49.13 | $ | 49.69 | $ | 50.00 | ||||||||||
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|
|
|
|
| |||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||
Net investment income (loss)(b) | 0.92 | 2.34 | 2.69 | (i) | 2.83 | 1.76 | ||||||||||||||
Net realized and unrealized gain (loss) | (1.59 | ) | 1.67 | (2.47 | )(i) | (0.54 | ) | (0.59 | ) | |||||||||||
|
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|
|
|
|
|
|
| |||||||||||
Total from investment operations | (0.67 | ) | 4.01 | 0.22 | 2.29 | 1.17 | ||||||||||||||
|
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|
|
|
| |||||||||||
Less distributions from: |
| |||||||||||||||||||
Net investment income | (1.01 | ) | (2.69 | ) | (2.78 | ) | (2.85 | ) | (1.48 | ) | ||||||||||
|
|
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|
|
|
|
|
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| |||||||||||
Total distributions | (1.01 | ) | (2.69 | ) | (2.78 | ) | (2.85 | ) | (1.48 | ) | ||||||||||
|
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|
|
|
|
|
|
| |||||||||||
Net Asset Value, end of period | $ | 46.21 | $ | 47.89 | $ | 46.57 | $ | 49.13 | $ | 49.69 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total Return (%) | (1.42 | )**(e) | 8.86 | (e) | 0.61 | (e) | 4.79 | (e) | 2.41 | ** | ||||||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||||||||||
Net Assets, end of period ($ millions) | 88 | 77 | 37 | 22 | 40 | |||||||||||||||
Ratio of expenses before fee | 0.20 | * | 0.20 | 0.20 | 0.20 | 0.20 | * | |||||||||||||
Ratio of expenses after fee | 0.20 | * | 0.20 | 0.20 | 0.20 | 0.20 | * | |||||||||||||
Ratio of net investment income | 3.94 | * | 4.95 | 6.13 | (i) | 5.78 | 5.56 | * | ||||||||||||
Portfolio turnover rate (%)(g) | 25 | ** | 52 | 150 | 45 | 37 | ** |
(a) | For the period February 10, 2022 (commencement of operations) through February 28, 2022. |
(b) | Based on average shares outstanding during the period. |
(c) | Amount represents less than $0.005. |
(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) | The Fund invests in other ETFs and indirectly bears its proportionate shares of fees and expenses incurred by the Underlying Funds in which the Fund is invested. This ratio does not included these indirect fees and expenses. |
(g) | Portfolio turnover rate does not include securities received or delivered from processing creations or redemptions. |
(h) | For the period January 10, 2018 (commencement of operations) through August 31, 2018. |
(i) | 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, increase to net realized and unrealized gain (loss) from investments per share by $0.10 and decrease to the ratio of net investment income to average net assets of 0.22% for Xtrackers Short Duration High Yield Bond ETF. Per share data and ratios for years prior to August 31, 2020 have not been restated to reflect this change in presentation. |
* | Annualized. |
** | Not Annualized. |
See Notes to Financial Statements. | 72 |
DBX ETF Trust
Financial Highlights (Continued)
Xtrackers USD High Yield Corporate Bond ETF Selected Per Share Data | For the Six Months Ended 2/28/2022 (Unaudited) | Years Ended August 31, | Period Ended 8/31/2017(a)(b) | |||||||||||||||||||||
2021 | 2020(b) | 2019(b) | 2018(b) | |||||||||||||||||||||
Net Asset Value, beginning of period | $ | 40.31 | $ | 39.06 | (b) | $ | 40.19 | $ | 39.90 | $ | 40.97 | $ | 40.00 | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||
Net investment income (loss)(c) | 0.77 | 1.70 | 2.03 | (d) | 2.39 | 2.32 | 1.66 | |||||||||||||||||
Net realized and unrealized gain (loss) | (2.00 | ) | 1.79 | (0.95 | )(d) | 0.23 | (1.24 | ) | 0.89 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total from investment operations | (1.23 | ) | 3.49 | 1.08 | 2.62 | 1.08 | 2.55 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Less distributions from: | ||||||||||||||||||||||||
Net investment income | (0.84 | ) | (2.24 | ) | (2.21 | ) | (2.34 | ) | (2.15 | ) | (1.58 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total distributions | (0.84 | ) | (2.24 | ) | (2.21 | ) | (2.34 | ) | (2.15 | ) | (1.58 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Net Asset Value, end of period | $ | 38.24 | $ | 40.31 | $ | 39.06 | $ | 40.19 | $ | 39.90 | $ | 40.97 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total Return (%) | (3.10 | )**(e) | 8.31 | (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) | 4,802 | 6,666 | 6,209 | 3,062 | 1,796 | 220 | ||||||||||||||||||
Ratio of expenses before fee waiver (%) | 0.20 | * | 0.20 | 0.20 | 0.20 | 0.20 | 0.25 | * | ||||||||||||||||
Ratio of expenses after fee waiver (%) | 0.15 | * | 0.15 | 0.15 | 0.17 | 0.20 | 0.25 | * | ||||||||||||||||
Ratio of net investment income (loss) (%) | 3.92 | * | 4.27 | 5.27 | (d) | 6.06 | 5.86 | 5.57 | * | |||||||||||||||
Portfolio turnover rate (%)(f) | 13 | ** | 37 | 54 | 29 | 32 | 36 | ** |
(a) | For the period December 7, 2016 (commencement of operations) through August 31, 2017. |
(b) | On April 13, 2021, the Xtrackers USD High Yield Corporate Bond ETF implemented a 5 for 4 stock split. Net asset value and per share information through April 12, 2021 have been updated to reflect the effect of the split. Shareholders received 5 shares for every 4 shares owned and net asset value per share decreased correspondingly. |
(c) | Based on average shares outstanding during the period. |
(d) | 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 $0.12, increase to net realized and unrealized gain (loss) from investments per share by $0.12 and decrease to the ratio of net investment income to average net assets of 0.32% for Xtrackers USD High Yield Corporate Bond ETF. Per share data and ratios for years prior to August 31, 2020 have not been restated to reflect this change in presentation. |
(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. |
* | Annualized. |
** | Not Annualized. |
See Notes to Financial Statements. | 73 |
DBX ETF Trust
1. Organization
DBX ETF Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “Act”), as an open-end registered management investment company organized as a Delaware statutory trust.
As of February 28, 2022, the Trust consists of thirty-six investment series of exchange-traded funds (“ETFs”) (each a “Fund” and collectively, the “Funds”) in operation and trading. These financial statements report on the Funds listed below, each a diversified series of the Trust:
Xtrackers High Beta High Yield Bond ETF |
Xtrackers Low Beta High Yield Bond ETF Xtrackers Risk Managed USD High Yield Strategy 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, except for Xtrackers Risk Managed USD High Yield Strategy ETF which lots consist of 25,000 shares and Xtrackers USD High Yield Corporate Bond ETF which lots consist of 100,000 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 Xtrackers Risk Managed USD High Yield Strategy ETF | Solactive USD High Yield Corporates Total Market Low Beta Index Adaptive Wealth Strategies Risk Managed High Yield 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 US 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 US dollar-denominated high yield corporate bond market that exhibits lower overall beta to the broader high yield corporate fixed income market. The Adaptive Wealth Strategies Risk Managed High Yield Index is designed to track the performance of the US dollar-denominated high yield corporate bond market during normal market conditions, and the performance of a USD cash position accruing interest at the Effective Federal Funds Rate (the interest rate depository institutions such as banks charge each other for overnight loans to meet their reserve requirements) during periods of adverse market conditions. The Solactive USD High Yield Corporates Total Market 0-5 Year Index is designed to track the performance of short-term publicly issued US 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.
74
DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
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.
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.
75
DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
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. 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, 2022, the Funds did not incur any interest or penalties.
At August 31, 2021, for Federal income tax purposes, the Funds have capital loss carryforwards available as shown in the table below, to the extent provided by regulations, to offset future capital gains for an unlimited period. To the extent that these loss carryforwards are used to offset future capital gains, it is probable that the capital gains so offset will not be distributed to shareholders.
Short-Term | Long-Term | Total Amount | ||||||||||
Xtrackers High Beta High Yield Bond ETF | $ | 2,689,526 | $ | 7,800,548 | $ | 10,490,074 | ||||||
Xtrackers Low Beta High Yield Bond ETF | 2,299,291 | 945,160 | 3,244,451 | |||||||||
Xtrackers Short Duration High Yield Bond ETF | — | 420,709 | 420,709 | |||||||||
Xtrackers USD High Yield Corporate Bond ETF | 16,148,977 | 61,720,592 | 77,869,569 |
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Notes to Financial Statements (Unaudited) (Continued)
As of August 31, 2021, the aggregate cost of investments for federal income tax purposes, the net unrealized appreciation or (depreciation) and the aggregated gross unrealized appreciation (depreciation) on investments were as follows:
Aggregate Tax Cost | Net Unrealized Appreciation (Depreciation) | Aggregate Gross Unrealized Appreciation | Aggregate Gross Unrealized (Depreciation) | |||||||||||||
Xtrackers High Beta High Yield Bond ETF | $ | 20,413,294 | $ | 157,148 | $ | 334,227 | $ | (177,079 | ) | |||||||
Xtrackers Low Beta High Yield Bond ETF | 763,246,426 | 9,656,626 | 10,135,340 | (478,714 | ) | |||||||||||
Xtrackers Short Duration High Yield Bond ETF | 77,497,802 | 1,588,348 | 1,672,322 | (83,974 | ) | |||||||||||
Xtrackers USD High Yield Corporate Bond ETF | 6,974,502,514 | (58,833 | ) | 58,267,957 | (58,326,790 | ) |
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, 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, 2022, if any, are disclosed in the Funds’ Statements of Assets and Liabilities.
Foreign Currency Translations The books and records of the Funds are maintained in U.S. dollars. Investment securities and other assets and liabilities denominated in a foreign currency are translated into U.S. dollars at the prevailing exchange rates at period end. Purchases and sales of investment securities, income and expenses are translated into U.S. dollars at the prevailing exchange rates on the respective dates of the transactions.
Net realized and unrealized gains and losses on foreign currency transactions represent net gains and losses between trade and settlement dates on securities transactions, the acquisition and disposition of foreign currencies, and the difference between the amount of net investment income accrued and the U.S. dollar amount actually received. The portion of both realized and unrealized gains and losses on investments that results from fluctuations in foreign currency exchange rates is not separately disclosed, but is included with net realized and unrealized gain/appreciation and loss/depreciation on investments.
Securities Lending The Funds may lend securities to certain financial institutions under the terms of their securities lending agreement. During the term of the loans the Funds continue to receive interest and dividends generated by the securities and to participate in any changes in their market value. The Funds require the borrowers of the securities to maintain collateral with the Funds consisting of cash and/or securities issued or guaranteed by the U.S. Government, its agencies or instrumentalities having a value at least equal to the value of the securities loaned. When the collateral falls below specified amounts, the lending agent will use its best effort to obtain additional collateral on the next business day to meet required amounts under the securities lending agreement. During the period ended February 28, 2022, the Funds invested the cash collateral into a joint trading account in DWS Government & Agency Securities Portfolio, an affiliated money market fund managed by DWS Investment Management Americas, Inc. DWS Investment Management Americas, Inc. receives a management/administration fee (0.06% annualized effective rate as of February 28, 2022) on the cash collateral invested in DWS Government & Agency Securities Portfolio. The Funds receive compensation for lending their securities either in the form of fees or by earning interest on invested cash collateral, net of borrower rebates and fees paid to a lending agent. Either the Fund or the borrower may terminate the loan at any time and the borrower, after notice, is required to return borrowed securities within a standard time period. There may be risks of delay and costs in recovery of securities or even loss of rights in the collateral should the borrower of the securities fail financially. If the Funds are not able to recover securities lent, the Funds may sell the collateral and purchase a replacement investment in the market, incurring the risk that the value of the replacement security is greater than the value of the collateral. The Funds are also subject to all investment risks associated with the reinvestment of any cash collateral received, including, but not limited to, interest rate, credit and liquidity risk associated with such investments.
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Notes to Financial Statements (Unaudited) (Continued)
As of February 28, 2022, the Funds listed below had securities on loan. The value of the related collateral exceeded the value of the securities loaned at year end.
Remaining Contractual Maturity of the Agreements, as of February 28, 2022 | ||||||||||||||||||||
Securities Lending Transactions | Overnight and Continuous | <30 Days | Between 30 & 90 days | >90 days | Total | |||||||||||||||
Xtrackers High Beta High Yield Bond ETF |
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Corporate Bonds | $ | 1,561,891 | $ | — | $ | 63,631 | $ | 460,616 | $ | 2,086,138 | ||||||||||
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Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
| $ | 2,086,138 | |||||||||||||||||
Xtrackers Low Beta High Yield Bond ETF |
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Corporate Bonds | $ | 20,540,953 | $ | — | $ | 932,305 | $ | 8,678,525 | $ | 30,151,783 | ||||||||||
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Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
| $ | 30,151,783 | |||||||||||||||||
Xtrackers Short Duration High Yield Bond ETF |
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Corporate Bonds | $ | 3,496,240 | $ | — | $ | 123,297 | $ | 887,723 | $ | 4,507,260 | ||||||||||
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Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
| $ | 4,507,260 | |||||||||||||||||
Xtrackers USD High Yield Corporate Bond ETF |
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Corporate Bonds | $ | 181,376,226 | $ | — | $ | 5,789,407 | $ | 45,407,018 | $ | 232,572,651 | ||||||||||
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Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
| $ | 232,572,651 |
As of February 28, 2022, Xtrackers Risk Managed USD High Yield Strategy ETF had no securities on loan.
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 Risk Managed USD High Yield Strategy ETF | 0.30 | % | ||
Xtrackers Short Duration High Yield Bond ETF | 0.20 | % | ||
Xtrackers USD High Yield Corporate Bond ETF | 0.20 | % |
The Advisor for Xtrackers High Beta High Yield Bond ETF has contractually agreed, until December 16, 2022, 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
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Notes to Financial Statements (Unaudited) (Continued)
extraordinary expenses) of the fund from exceeding 0.20% of the fund’s average daily net assets. For the period ended February 28, 2022, the Advisor waived $15,834 of expenses to the Fund.
The Advisor for Xtrackers Low Beta High Yield Bond ETF has contractually agreed, until December 16, 2022, 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, 2022, the Advisor waived $241,292 of expenses to the Fund.
The Advisor for Xtrackers USD High Yield Corporate Bond ETF has contractually agreed, until December 16, 2022, 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, 2022, the Advisor waived $1,576,628 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, 2022, the Advisor waived expenses of the Funds as follows:
Expenses Waived | ||||
Xtrackers High Beta High Yield Bond ETF | $ | 148 | ||
Xtrackers Low Beta High Yield Bond ETF | 1,861 | |||
Xtrackers Risk Managed USD High Yield Strategy ETF | 1,798 | |||
Xtrackers Short Duration High Yield Bond ETF | 483 | |||
Xtrackers USD High Yield Corporate Bond ETF | 6,934 |
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, 2022, the cost of investments purchased and proceeds from sale of investments (excluding in-kind transactions and short-term investments) were as follows:
Purchases | Sales | |||||||
Xtrackers High Beta High Yield Bond ETF | $ | 6,265,150 | $ | 6,191,773 | ||||
Xtrackers Low Beta High Yield Bond ETF | 313,208,740 | 301,890,012 | ||||||
Xtrackers Risk Managed USD High Yield Strategy ETF | 533,752 | — | ||||||
Xtrackers Short Duration High Yield Bond ETF | 21,978,414 | 19,443,624 | ||||||
Xtrackers USD High Yield Corporate Bond ETF | 777,926,589 | 810,013,820 |
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Notes to Financial Statements (Unaudited) (Continued)
For the period ended February 28, 2022, the cost of in-kind purchases and proceeds from in-kind sales were as follows:
Purchases | Sales | |||||||
Xtrackers High Beta High Yield Bond ETF | $ | 6,850,243 | $ | 2,273,725 | ||||
Xtrackers Low Beta High Yield Bond ETF | 810,168,401 | — | ||||||
Xtrackers Risk Managed USD High Yield Strategy ETF | 28,439,060 | — | ||||||
Xtrackers Short Duration High Yield Bond ETF | 18,992,161 | 4,410,318 | ||||||
Xtrackers USD High Yield Corporate Bond ETF | 2,200,896,083 | 3,686,941,094 |
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, 2022, 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 | $ | 1,604,138 | $ | 3,693,538 | $ | 18,541 | ||||||
Xtrackers Low Beta High Yield Bond ETF | 4,960,334 | 2,470,999 | (76,784 | ) | ||||||||
Xtrackers USD High Yield Corporate Bond ETF | 866,861 | 1,266,796 | 18,258 |
5. Fund Share Transactions
As of February 28, 2022, there were unlimited Fund shares, no par value, authorized by the Trust. Fund shares are issued and redeemed by each Fund only in Creation Units or multiples thereof. Except when aggregated in Creation Units, shares of each Fund are not redeemable. Transactions in capital shares for each Fund are 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, 2022.
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, increased government activity, including economic stimulus measures, and supply chain interruptions. The full effects, duration and costs of the COVID-19 pandemic are impossible to predict, and the circumstances surrounding the COVID-19 pandemic will continue to evolve, including the risk of future increased rates of infection due to low vaccination rates and/or the lack of effectiveness of current vaccines against new variants. The pandemic has affected and may continue to affect certain countries, industries, economic sectors, companies and investment products more than others, may exacerbate existing economic, political, or social tensions and may increase the probability of an economic recession or depression. The Funds’ and their investments may be adversely affected by the effects of the COVID-19 pandemic, and the pandemic may result in the Funds and their service providers experiencing operational difficulties in coordinating a remote workforce and implementing their business continuity plans, among others. Management will continue to monitor the impact COVID-19 has on the Funds and reflect the consequences as appropriate in the Funds’ accounting and financial reporting.
9. Stock Split
On April 13, 2021, the Xtrackers USD High Yield Corporate Bond ETF implemented a 5 for 4 stock split of its outstanding shares. The net effect of the stock split was to increase the number of outstanding shares and decrease the net asset value per share by a proportionate amount for the shares of the Fund. The stock split had no impact on the overall value of a shareholder’s investment in the Fund. Capital share activity referenced in the Statement of Changes in Net Assets, and per share and net asset value data in the Financial Highlights tables have been restated to reflect the stock split.
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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
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 2022, as required by the Program and the Liquidity Rule, Advisors provided the Board with an annual written report (the “Report”) addressing the operation of the Program and assessing the adequacy and effectiveness of its implementation during the period from December 1, 2020 through November 30, 2021 (the “Reporting Period”). During the Reporting Period, your Fund was primarily invested in highly liquid investments (investments that the Fund anticipates can be converted to cash within 3 business days or less in current market conditions without significantly changing their market value). As a result, your Fund is not required to adopt, and has not adopted, a “Highly Liquid Investment Minimum” as defined in the Liquidity Rule. During the Reporting Period, the Fund did not approach the 15% limit imposed by the Liquidity Rule on holdings in illiquid investments (investments that cannot be sold or disposed of in seven days or less in current market conditions without the sale of the investment significantly changing the market value of the investment). Your Fund did not experience any issues meeting investor redemptions at any time during the Reporting Period. In the Report, Advisors stated that it believes the Program has operated adequately and effectively to manage the Fund’s liquidity risk during the Reporting Period. Advisors also reported that there were no material changes made to the Program during the Reporting Period.
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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 16-17, 2022 (the “Meeting”), the Trustees, all of whom are the Independent Trustees (those not affiliated with DBX ETF Trust (the “Trust”) or its service providers), unanimously approved the continuance of the Investment Advisory Agreement with respect to Xtrackers 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 16 and February 17, 2022. The Independent Trustees also noted that they had received and should take into consideration a substantial amount of information furnished throughout the year at regular Board meetings, which information included, among other things, an analysis of each Fund’s investment performance, tracking error and related financial information, presentations given by DBX, as well as its periodic reports on brokerage commissions, portfolio execution and other services provided to the Funds.
In reaching its decision to continue in effect the Investment Advisory Agreement for another annual period, the Board considered all factors it believed relevant, including (1) the nature, extent and quality of the services provided to the Funds and their shareholders; (2) the financial resources of DBX and its resulting ability to perform its obligations under the Investment Advisory Agreement; (3) the competitiveness of the advisory fee; (4) the total cost of the services provided by and the profits realized by the Advisor from its relationship with the Funds; (5) the extent to which economies of scale have been realized, and if the Funds’ shareholders have benefitted from those economies; and (6) fall out benefits, if any, enjoyed by the Advisor.
The Board reached a determination, with the assistance of Independent Trustee Counsel and Vedder Price P.C. (“Trust Counsel”) and through the exercise of its business judgment, that approval of the Investment Advisory Agreement and the compensation to be received thereunder is in the best interests of each Fund and its shareholders as well as consistent with the Board’s duties under state and federal law. The Board reached this conclusion based on multiple factors.
The Board considered the following in determining whether to approve the Investment Advisory Agreement:
Nature, Extent and Quality of Services. The Board reviewed in detail the nature, extent and quality of services provided and the risks incurred by the Advisor under the Investment Advisory Agreement. In doing so, the Board considered the information it had received from and the discussions it had with the Advisor continuously during the prior year, in addition to the information the Advisor had provided in response to the Board’s requests prior to the Meeting. The Board considered that these services include, among other things, furnishing a continuous investment program for the Funds, including arranging for, or implementing, the purchase and sale of portfolio securities, the provision of general corporate services such as portfolio management compliance services and the preparation and filing of certain reports on behalf of the Trust. The Board also considered, among other things, the professional experience, qualifications and performance of the senior management and key professional personnel of the Advisor, including portfolio management.
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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 each 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. 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.
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DBX ETF Trust
Board Considerations in Approval of Investment Advisory Contracts (Unaudited) (Continued)
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 Risk Managed USD High Yield Strategy 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 16, 2021, 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 (i) Investment Advisory Agreement between DBX Advisors LLC (“DBX” or the “Advisor”) and the Trust, with respect to Xtrackers Risk Managed USD High Yield ETF (subsequently renamed as Xtrackers Risk Managed USD High Yield Strategy ETF) (the “Fund”). 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 Fund and its 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 Fund’s 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 Fund; and (5) the extent to which economies of scale would be realized, and if the Fund’s shareholders would benefit from those economies.
The Board reached a determination, with the assistance of Vedder Price P.C. (“Trust Counsel”) and through the exercise of its business judgment, that approval of the Investment Advisory Agreement and the compensation to be received thereunder is in the best interests of the 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 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 Fund, 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 Fund 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 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 Fund’s operations. The Board also considered that in addition to managing the Fund’s portfolio directly, the
85
DBX ETF Trust
Board Considerations in Approval of Investment Advisory Contracts (Unaudited) (Continued)
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 Fund.
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 Fund’s service providers. The Board considered the staffing of the Advisor, including the training, qualifications and experience of investment personnel in managing the Fund. 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 Fund), noting the Advisor’s extensive work with these service providers (including onsite and virtual due diligence sessions) to conduct such supervision (which would cover the Fund 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 Fund).
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 the Fund’s advisory fee to that of other pertinent exchange-traded funds (“ETFs”) and noted that the Fund’s fee is below the average and median fee of the ETFs in the Fund’s peer group. The Board accordingly noted that the 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 Fund’s peer group and believed that the Fund’s peer group was appropriate. The Board considered that the proposed fee for the Fund is a unitary fee pursuant to which the Advisor pays all of the Fund’s costs (subject to certain specified exceptions). Based on its review, the Board concluded that the advisory fee for the 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 Fund and the likelihood and level of profits in the early years of the Fund’s operations. The Board noted that because the Fund is new, it is difficult to estimate the profitability of the Fund to the Advisor at this time. The Board considered whether the Advisor would benefit in other ways from its relationships with the Fund and concluded that there were no material fall-out benefits likely to accrue to the Advisor related to the operation of the Fund.
Economies of Scale. The Board noted that the 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 Fund is new, it is difficult to estimate whether the Fund 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 Fund.
Given all the information available to it and considering all material factors, the Board concluded that the Investment Advisory Agreement was fair and reasonable and it was unanimously approved.
86
DBX ETF Trust
Proxy Voting Policies and Procedures
The Funds’ policies and procedures for voting proxies for portfolio securities and information about how each Fund voted proxies related to its portfolio securities during the most recent 12-month period ended June 30 are available on our Web site — www.Xtrackers.com (click on “Resources” and “Proxy Voting” at the top of the page) — or on the SEC’s Web site — www.sec.gov. To obtain a written copy of the Funds’ policies and procedures without charge, upon request, call us toll free at 855-329-3837.
Portfolio Holdings Information
The Funds are required to file their complete schedule of portfolio holdings with the SEC for their first and third fiscal quarters on Form N-PORT. Copies of the filings are available without charge, upon request on the SEC’s website at www.sec.gov and are available by calling the Trust at 855-329-3837.
Information about each Fund’s portfolio holdings is available daily at www.Xtrackers.com.
Discount/Premium Information
Information regarding how often shares of each Fund traded on NYSE Arca 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.
87
DBX ETF Trust
DBX Advisors LLC (“Advisors”) collects non-public information about you from the following sources: (i) information received from you on applications or other forms; and (ii) information about your transactions with the Advisors, Advisors’ affiliates and third-party service providers and vendors. Advisors does not disclose any non-public personal information about you to anyone, other than as set forth below, as permitted by applicable law and regulation. Advisors may disclose non-public personal information about you to the funds in which you invest, to Advisors’ affiliates, and to non-affiliated companies that work with Advisors to service your account(s), or to provide services or process transactions that you have requested. Advisors may disclose non-public personal information in situations that may include, but are not limited to, in response to legal and/or regulatory inquiries and the proposed or actual sale, assignment merger or other transfer of all or a portion of Advisors’ business to another business entity. Advisors may also disclose non-public personal information about you to parties representing you, such as your investment representative, your accountant, your tax advisor, or to other third parties at your direction/consent. Advisors will not sell, rent, license or trade your personal and financial information to or with third parties for their own direct marketing use unless you give us general or specific consent to do so. If you decide to close your account(s) or become an inactive customer, Advisors will adhere to the privacy policies and practices as described in this notice. Advisors restricts access to your personal and account information to those employees who need to know that information to provide products and services to you. Advisors maintains reasonable and customary physical, electronic and procedural safeguards to guard your non-public personal information.
California residents may go to https://fundsus.dws.com/us/en-us/legal-resources/privacy-policy.html to obtain additional information relating to their rights under California state law.
Advisors reserves the right, at their discretion, to change, modify, add, or remove portions of this Privacy Policy Notice, and any of the policies described herein, at any time. Advisors will indicate any such changes to the Privacy Policy Notice at the privacy link which can be found at www.Xtrackers.com. At all times, you are bound by the then-current version of the Privacy Policy and all applicable laws. Advisors highly recommends that you review this Privacy Policy Notice from time to time to ensure that you are familiar with the most recent version. The examples contained in this Privacy Policy Notice are illustrations; they are not intended to be exclusive.
Rev. 12/2021
88
DBX ETF Trust
This report is intended for the shareholders of the DBX ETF Trust.
This report must be preceded or accompanied by a prospectus.
Investing involves risk, including the possible loss of principal. 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, sanctions, economic uncertainty, trade disputes, public health crises and related geopolitical events have led, and, in the future, may lead to significant disruptions in U.S. and world economies and markets, which may lead to increased market volatility and may have significant adverse effects on the Funds and its investments.
Shares of the Funds are bought and sold at market price (not NAV) throughout the day on the NYSE Arca, Inc. 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.
The Index Marks, trademarks and trade names, the Index and the Intellectual Property are licensed under an Agreement for use by DBX Advisors LLC (“Licensee”) and the Xtrackers Risk Managed USD High Yield Strategy ETF (the “Fund”). Such Index Marks, trademarks, trade names, Index and Intellectual Property have been created and developed by NorthCrest Asset Management LLC without regard to Licensee or the Fund, their business, and/or any prospective investor in the Fund.
Copyright © 2022 DWS Group. All rights reserved. XtrackersTM is a trademark of DWS Investment GmbH. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
Not FDIC Insured | No Bank Guarantee | May Lose Value
DBX ETF Trust
Investment advisor DBX Advisors LLC 875 Third Avenue New York, NY 10022 | Administrator, custodian, fund accounting agent, lending agent & transfer agent The Bank of New York Mellon 240 Greenwich Street New York, NY 10286 | Distributor ALPS Distributors, Inc. 1290 Broadway Suite 1000 Denver, CO 80203 | ||
Independent registered public accounting firm Ernst & Young LLP One Manhattan West New York, NY, 10001 | Legal counsel Vedder Price P.C. 1633 Broadway New York, NY 10019 |
R-050032-6 (4/22) DBX005125 (4/23)
February 28, 2022
Semi-Annual Report
DBX ETF Trust
Xtrackers FTSE Developed ex US Multifactor ETF (DEEF)
Xtrackers MSCI Kokusai Equity ETF (KOKU)
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (QARP)
Xtrackers Russell US Multifactor ETF (DEUS)
DBX ETF Trust
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Portfolio Summary | ||||
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6 | ||||
Schedule of Investments | ||||
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Board Consideration in Approval of Investment Advisory Contracts | 65 | |||
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69 |
To our Shareholders: (Unaudited)
Dear Shareholder,
We are pleased to provide this semiannual report on four of our equity ETFs for the period ended February 28, 2022.
Global equities posted strong results, supported by economic resilience and robust corporate earnings, even though the Omicron variant of the coronavirus-induced lockdowns and Russia’s full-fledged military invasion of Ukraine kept investors wary. As the period ended, developed markets outperformed emerging markets – Japan and the UK recovered faster than other regions owing to better management of Omicron-related cases.
The U.S. economy recovered steadily, supported by growing personal consumption expenditure and manufacturing activity. Despite the receding number of Omicron infections, consumer confidence remained weak owing to a less favorable long-term economic outlook. Markets gained during Q4 2021 on the back of stable economic data and rising corporate earnings. Notwithstanding this advance, U.S. equities have witnessed heightened volatility so far in 2022, due to rising energy prices, coupled with concerns regarding the Federal Reserve’s tightening monetary policy. Labor-market data indicated falling unemployment rates. However, as inflation jumped to the highest level in 40 years, the Federal Reserve indicated a hawkish stance and confirmed tapering of bond purchases by March 2022.
Within the Eurozone, the manufacturing sector struggled, due to supply-chain bottlenecks, escalating input costs, and weak consumer confidence. Amid rising geopolitical risks and gas supply concerns, inflation reached an all-time high. Although the European Central Bank (ECB) plans to end its bond buying under the Pandemic Emergency Purchase Programme by the end of March, quantitative easing would continue through the older Asset Purchase Programme. The ECB expects to defer interest rate hikes until then.
The UK economy expanded, backed by higher government spending and household expenditure. Elsewhere, Japan turned out to be the most resilient of developed nations, experiencing the strongest economic recovery. Economic growth was aided by expanding household consumption and business investment amid declining coronavirus cases and easing restrictions.
We believe 2022 will be viewed as a year of transition as the global economy, along with the investment environment, evolves in search of a new normal. Geopolitical pressures coupled with disparities in central bank policies across different regions is expected to impact investment decisions. On one hand, the economic effects of the war between Russia and Ukraine and other supporting nations need to be monitored. On the other, we believe high inflation is a proxy of readjustment to demand-supply mismatches and labor markets. It can, therefore, be tackled with efficient risk management of portfolios, along with longer-term investment horizon.
Our team appreciates your trust and looks forward to serving your investment needs through innovative index-driven strategies.
Sincerely,
/s/ Freddi Klassen
Freddi Klassen
President and Chief Executive Officer
Assumptions, estimates and opinions contained in this document constitute our judgment as of the date of the document and are subject to change without notice. Any projections are based on a number of assumptions as to market conditions and there can be no guarantee that any projected results will be achieved. Past performance is not a guarantee of future results.
1
DBX ETF Trust
Portfolio Summary (Unaudited)
Xtrackers FTSE Developed ex US Multifactor ETF (DEEF)
Xtrackers FTSE Developed ex US Multifactor ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the FTSE Developed ex US Comprehensive Factor Index (the “Underlying Index”). The Underlying Index is designed to track the equity market performance of companies in developed countries (except the United States) selected on the investment style criteria (“factors”) of value, momentum, quality, low volatility and size. The companies eligible for the Under-lying 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, 2022 (5.3% of Net Assets) |
Description | % of Net Assets | |||
SSE PLC (United Kingdom) | 0.6% | |||
Telefonica SA (Spain) | 0.6% | |||
Medibank Pvt Ltd. (Australia) | 0.6% | |||
Kinnevik AB (Sweden) | 0.5% | |||
Segro PLC (United Kingdom) | 0.5% | |||
B&M European Value Retail SA (United Kingdom) | 0.5% | |||
Daito Trust Construction Co. Ltd. (Japan) | 0.5% | |||
Bank Leumi Le-Israel BM (Israel) | 0.5% | |||
J Sainsbury PLC (United Kingdom) | 0.5% | |||
Skanska AB (Sweden) | 0.5% |
Country Diversification * as of February 28, 2022 |
Japan | 26.2% | |||
Australia | 11.1% | |||
United Kingdom | 10.9% | |||
Canada | 6.1% | |||
Sweden | 5.6% | |||
Switzerland | 4.5% | |||
South Korea | 4.4% | |||
Germany | 3.7% | |||
France | 3.7% | |||
Israel | 3.2% | |||
Netherlands | 2.6% | |||
Hong Kong | 2.4% | |||
Singapore | 2.1% | |||
Other | 13.5% | |||
|
| |||
Total | 100.0% |
Sector Diversification * as of February 28, 2022 |
Industrials | 21.0% | |||
Financials | 14.0% | |||
Materials | 12.8% | |||
Consumer Staples | 10.7% | |||
Consumer Discretionary | 9.0% | |||
Real Estate | 7.5% | |||
Utilities | 7.0% | |||
Communication Services | 6.9% | |||
Information Technology | 5.4% | |||
Health Care | 4.3% | |||
Energy | 1.4% | |||
|
| |||
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). It is not possible to invest directly into an index.
Ten Largest Equity Holdings as of February 28, 2022 (20.4% of Net Assets) |
Apple, Inc. (United States) | 5.0% | |||
Microsoft Corp. (United States) | 4.0% | |||
Alphabet, Inc. (United States) | 3.0% | |||
Amazon.com, Inc. (United States) | 2.6% | |||
Tesla, Inc. (United States) | 1.4% | |||
NVIDIA Corp. (United States) | 1.1% | |||
Meta Platforms, Inc. (United States) | 0.9% | |||
UnitedHealth Group, Inc. (United States) | 0.8% | |||
Johnson & Johnson (United States) | 0.8% | |||
JPMorgan Chase & Co. (United States) | 0.8% |
Country Diversification * as of February 28, 2022 |
United States | 71.3% | |||
United Kingdom | 4.9% | |||
Canada | 3.8% | |||
Switzerland | 3.5% | |||
France | 3.3% | |||
Germany | 2.5% | |||
Australia | 2.2% | |||
Other | 8.5% | |||
|
| |||
Total | 100.0% |
Sector Diversification * as of February 28, 2022 |
Information Technology | 23.0% | |||
Financials | 14.2% | |||
Health Care | 12.8% | |||
Consumer Discretionary | 11.1% | |||
Industrials | 9.3% | |||
Communication Services | 8.0% | |||
Consumer Staples | 7.2% | |||
Materials | 4.4% | |||
Energy | 4.3% | |||
Utilities | 3.0% | |||
Real Estate | 2.7% | |||
|
| |||
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, 2022 (35.0% of Net Assets) |
Description | % of Net Assets | |||
Apple, Inc. | 6.2% | |||
Alphabet, Inc. | 5.3% | |||
Microsoft Corp. | 5.2% | |||
Berkshire Hathaway, Inc. | 3.9% | |||
Amazon.com, Inc. | 3.6% | |||
Meta Platforms, Inc. | 2.4% | |||
Intel Corp. | 2.3% | |||
UnitedHealth Group, Inc. | 2.2% | |||
Johnson & Johnson | 2.1% | |||
Cisco Systems, Inc. | 1.8% |
Sector Diversification * as of February 28, 2022 |
Information Technology | 29.6% | |||
Health Care | 15.0% | |||
Consumer Discretionary | 13.4% | |||
Communication Services | 10.7% | |||
Financials | 8.5% | |||
Consumer Staples | 8.1% | |||
Industrials | 7.0% | |||
Energy | 3.8% | |||
Materials | 2.0% | |||
Real Estate | 1.1% | |||
Utilities | 0.8% | |||
|
| |||
Total | 100.0% |
* As a percent of total investments excluding securities lending collateral and cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 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, 2022 (6.1% of Net Assets) |
Description | % of Net Assets | |||
HP, Inc. | 1.1% | |||
AutoZone, Inc. | 0.8% | |||
Kroger Co. | 0.6% | |||
Hewlett Packard Enterprise Co. | 0.6% | |||
Tractor Supply Co. | 0.5% | |||
Genuine Parts Co. | 0.5% | |||
Best Buy Co., Inc. | 0.5% | |||
eBay, Inc. | 0.5% | |||
O’Reilly Automotive, Inc. | 0.5% | |||
Amdocs Ltd. | 0.5% |
Sector Diversification * as of February 28, 2022 |
Information Technology | 19.4% | |||
Financials | 16.5% | |||
Industrials | 15.7% | |||
Consumer Discretionary | 11.0% | |||
Health Care | 9.9% | |||
Materials | 6.3% | |||
Real Estate | 6.1% | |||
Consumer Staples | 5.5% | |||
Utilities | 5.5% | |||
Communication Services | 2.7% | |||
Energy | 1.4% | |||
|
| |||
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, 2021 to February 28, 2022).
Actual expenses
The first line in the following tables provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading “Expenses Paid During the Period” to estimate the expenses you paid on your account during this period.
Hypothetical example for comparison purposes
The second line in the following tables provides information about hypothetical account values and hypothetical expenses based on the Funds’ actual expense ratios and an assumed rate of return of 5% per year before expenses (which is not the Funds’ actual return). The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Please note that the expenses shown in the tables are meant to highlight your ongoing costs only, and do not reflect any transactional costs. Therefore the second line in the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
Beginning Account Value September 1, 2021 | Ending Account Value February 28, 2022 | Annualized Expense Ratio | Expenses Paid During the Period Per $1,000(1) | |||||||||||||
Xtrackers FTSE Developed ex US Multifactor ETF |
| |||||||||||||||
Actual | $ | 1,000.00 | $ | 928.10 | 0.24 | % | $ | 1.15 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,023.61 | 0.24 | % | $ | 1.20 | ||||||||
Xtrackers MSCI Kokusai Equity ETF |
| |||||||||||||||
Actual | $ | 1,000.00 | $ | 956.60 | 0.09 | % | $ | 0.44 | ||||||||
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 | $ | 976.10 | 0.19 | % | $ | 0.93 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,023.85 | 0.19 | % | $ | 0.95 | ||||||||
Xtrackers Russell US Multifactor ETF |
| |||||||||||||||
Actual | $ | 1,000.00 | $ | 969.90 | 0.17 | % | $ | 0.83 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,023.95 | 0.17 | % | $ | 0.85 |
(1) Expenses are equal to each Fund’s annualized expense ratio, multiplied by the average account value over the period, multiplied by 181 (the number of days in the most recent six-month period), then divided by 365.
6
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF
February 28, 2022 (Unaudited)
Number | Value | |||||||
COMMON STOCKS — 99.3% | ||||||||
Australia — 11.1% | ||||||||
Adbri Ltd. | 6,728 | $ | 16,111 | |||||
ALS Ltd. | 8,225 | 70,607 | ||||||
Alumina Ltd. | 45,469 | 65,164 | ||||||
Ampol Ltd. | 502 | 10,735 | ||||||
Ansell Ltd. | 4,452 | 83,026 | ||||||
APA Group (a) | 6,482 | 47,272 | ||||||
Aristocrat Leisure Ltd. | 2,892 | 78,214 | ||||||
ASX Ltd. | 2,855 | 170,566 | ||||||
Aurizon Holdings Ltd. | 43,600 | 110,734 | ||||||
Australia & New Zealand Banking Group Ltd. | 2,436 | 45,977 | ||||||
Bank of Queensland Ltd. | 8,346 | 48,450 | ||||||
Bendigo & Adelaide Bank Ltd. | 14,683 | 102,392 | ||||||
BHP Group Ltd. | 10,442 | 353,554 | ||||||
BlueScope Steel Ltd. | 16,220 | 238,226 | ||||||
Boral Ltd. | 1,820 | 4,794 | ||||||
Brambles Ltd. | 31,390 | 225,504 | ||||||
carsales.com Ltd. | 3,773 | 56,126 | ||||||
Challenger Ltd. | 9,674 | 47,385 | ||||||
Charter Hall Group REIT | 12,875 | 156,678 | ||||||
Cleanaway Waste Management Ltd. | 17,252 | 34,677 | ||||||
Cochlear Ltd. | 876 | 141,691 | ||||||
Coles Group Ltd. | 16,273 | 205,232 | ||||||
Commonwealth Bank of Australia | 981 | 66,531 | ||||||
Computershare Ltd. | 12,146 | 190,906 | ||||||
CSL Ltd. | 160 | 30,185 | ||||||
CSR Ltd. | 32,776 | 136,044 | ||||||
Deterra Royalties Ltd. | 10,130 | 32,785 | ||||||
Dexus REIT | 45,784 | 362,797 | ||||||
Domino’s Pizza Enterprises Ltd. | 856 | 49,040 | ||||||
Downer EDI Ltd. | 28,738 | 105,103 | ||||||
Endeavour Group Ltd. | 23,138 | 120,217 | ||||||
Fortescue Metals Group Ltd. | 2,415 | 31,807 | ||||||
Goodman Group REIT | 14,583 | 235,241 | ||||||
GPT Group REIT | 3,571 | 12,801 | ||||||
Harvey Norman Holdings Ltd. | 32,879 | 125,258 | ||||||
IDP Education Ltd. | 496 | 9,452 | ||||||
IGO Ltd. | 1,716 | 13,610 | ||||||
Iluka Resources Ltd. | 18,060 | 140,095 | ||||||
Incitec Pivot Ltd. | 18,476 | 41,428 | ||||||
Insurance Australia Group Ltd. | 6,069 | 20,258 | ||||||
JB Hi-Fi Ltd. | 3,117 | 111,532 | ||||||
Lendlease Corp. Ltd. (a) | 3,724 | 28,537 | ||||||
Macquarie Group Ltd. | 680 | 89,204 | ||||||
Magellan Financial Group Ltd. | 340 | 4,540 | ||||||
Medibank Pvt Ltd. | 186,169 | 429,598 | ||||||
Metcash Ltd. | 76,836 | 229,715 | ||||||
Mineral Resources Ltd. | 2,948 | 96,800 | ||||||
Mirvac Group REIT | 161,520 | 303,566 | ||||||
National Australia Bank Ltd. | 1,511 | 31,731 | ||||||
Newcrest Mining Ltd. | 1,510 | 28,127 | ||||||
Orica Ltd. | 889 | 9,412 | ||||||
Origin Energy Ltd. | 2,071 | 8,566 | ||||||
Orora Ltd. | 69,648 | 188,515 | ||||||
OZ Minerals Ltd. | 4,090 | 75,682 | ||||||
Perpetual Ltd. | 2,046 | 52,246 |
Number | Value | |||||||
Australia (Continued) | ||||||||
Platinum Asset Management Ltd. | 10,004 | $ | 17,277 | |||||
Qube Holdings Ltd. | 17,610 | 37,953 | ||||||
Ramsay Health Care Ltd. | 817 | 37,925 | ||||||
REA Group Ltd. | 599 | 57,237 | ||||||
Reece Ltd. | 6,715 | 94,385 | ||||||
Rio Tinto Ltd. | 3,466 | 297,210 | ||||||
Santos Ltd. | 4,975 | 26,209 | ||||||
SEEK Ltd. | 1,277 | 24,714 | ||||||
Seven Group Holdings Ltd. | 1,456 | 23,445 | ||||||
Shopping Centres Australasia Property Group REIT | 84,461 | 177,738 | ||||||
Sonic Healthcare Ltd. | 14,333 | 364,546 | ||||||
South32 Ltd. | 49,700 | 173,472 | ||||||
Star Entertainment Group Ltd. * | 2,517 | 6,119 | ||||||
Stockland REIT | 57,692 | 174,155 | ||||||
Suncorp Group Ltd. | 35,094 | 274,268 | ||||||
Tabcorp Holdings Ltd. | 45,196 | 163,654 | ||||||
Telstra Corp. Ltd. | 40,644 | 116,794 | ||||||
Transurban Group (a) | 8,536 | 78,604 | ||||||
Treasury Wine Estates Ltd. | 8,583 | 72,372 | ||||||
Washington H Soul Pattinson & Co. Ltd. | 5,853 | 106,945 | ||||||
Wesfarmers Ltd. | 6,681 | 233,628 | ||||||
Westpac Banking Corp. | 3,474 | 57,502 | ||||||
Woodside Petroleum Ltd. | 1,137 | 23,547 | ||||||
Woolworths Group Ltd. | 9,527 | 245,352 | ||||||
|
| |||||||
(Cost $8,250,438) | 8,609,495 | |||||||
|
| |||||||
Austria — 0.4% | ||||||||
ANDRITZ AG | 2,797 | 125,664 | ||||||
Erste Group Bank AG | 357 | 12,827 | ||||||
Raiffeisen Bank International AG | 558 | 9,194 | ||||||
Telekom Austria AG * | 7,572 | 62,001 | ||||||
Verbund AG | 309 | 37,484 | ||||||
voestalpine AG | 2,166 | 71,623 | ||||||
|
| |||||||
(Cost $308,448) | 318,793 | |||||||
|
| |||||||
Belgium — 1.1% | ||||||||
Ackermans & van Haaren NV | 302 | 56,648 | ||||||
Ageas SA/NV | 975 | 47,068 | ||||||
D’ieteren Group | 243 | 39,440 | ||||||
Elia Group SA/NV | 155 | 22,389 | ||||||
Etablissements Franz Colruyt NV | 559 | 22,402 | ||||||
Groupe Bruxelles Lambert SA | 389 | 40,608 | ||||||
KBC Group NV | 154 | 11,160 | ||||||
Proximus SADP | 5,332 | 106,363 | ||||||
Sofina SA | 576 | 224,626 | ||||||
Solvay SA | 395 | 44,242 | ||||||
Telenet Group Holding NV | 1,137 | 39,717 | ||||||
UCB SA | 246 | 26,995 | ||||||
Umicore SA | 1,184 | 48,793 | ||||||
Warehouses De Pauw CVA REIT | 2,640 | 104,436 | ||||||
|
| |||||||
(Cost $781,384) | 834,887 | |||||||
|
| |||||||
Canada — 6.1% | ||||||||
Alimentation Couche-Tard, Inc. | 2,539 | 99,590 | ||||||
Bank of Montreal | 467 | 53,289 | ||||||
Bank of Nova Scotia | 2,056 | 148,889 | ||||||
Barrick Gold Corp. | 233 | 5,263 |
See Notes to Financial Statements. | 7 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Canada (Continued) | ||||||||
BCE, Inc. | 1,066 | $ | 55,950 | |||||
Brookfield Asset Management, Inc., Class A | 528 | 28,836 | ||||||
Canadian Imperial Bank of Commerce | 463 | 58,564 | ||||||
Canadian National Railway Co. | 269 | 33,348 | ||||||
Canadian Pacific Railway Ltd. | 1,613 | 113,502 | ||||||
Canadian Tire Corp. Ltd., Class A | 1,899 | 279,786 | ||||||
Canadian Utilities Ltd., Class A | 2,582 | 71,861 | ||||||
CGI, Inc.* | 1,820 | 149,118 | ||||||
Constellation Software, Inc. | 101 | 170,105 | ||||||
Dollarama, Inc. | 2,181 | 112,631 | ||||||
Enbridge, Inc. | 1,696 | 73,223 | ||||||
Fairfax Financial Holdings Ltd. | 399 | 193,295 | ||||||
Fortis, Inc. | 3,149 | 144,198 | ||||||
Franco-Nevada Corp. | 251 | 36,939 | ||||||
George Weston Ltd. | 2,955 | 320,208 | ||||||
Great-West Lifeco, Inc. | 2,527 | 75,968 | ||||||
Hydro One Ltd., 144A | 5,374 | 132,618 | ||||||
IGM Financial, Inc. | 3,626 | 128,733 | ||||||
Intact Financial Corp. | 1,219 | 174,717 | ||||||
Loblaw Cos. Ltd. | 3,614 | 281,717 | ||||||
Magna International, Inc. | 2,421 | 179,750 | ||||||
Manulife Financial Corp. | 5,801 | 117,452 | ||||||
Metro, Inc. | 2,418 | 126,128 | ||||||
National Bank of Canada | 1,510 | 120,993 | ||||||
Nutrien Ltd. | 1,019 | 87,579 | ||||||
Power Corp. of Canada | 7,021 | 216,384 | ||||||
Restaurant Brands International, Inc. | 165 | 9,230 | ||||||
Rogers Communications, Inc., Class B | 4,443 | 229,410 | ||||||
Royal Bank of Canada | 288 | 31,837 | ||||||
Saputo, Inc. | 3,220 | 78,853 | ||||||
Shaw Communications, Inc., Class B | 6,611 | 198,119 | ||||||
Sun Life Financial, Inc. (b) | 3,006 | 157,985 | ||||||
TC Energy Corp. | 1,502 | 80,645 | ||||||
TELUS Corp. | 2,171 | 54,791 | ||||||
Thomson Reuters Corp. | 526 | 53,149 | ||||||
Toronto-Dominion Bank | 837 | 67,496 | ||||||
Wheaton Precious Metals Corp. | 217 | 9,502 | ||||||
|
| |||||||
(Cost $4,093,268) | 4,761,651 | |||||||
|
| |||||||
Chile — 0.0% | ||||||||
Antofagasta PLC | ||||||||
(Cost $22,753) | 1,477 | 30,143 | ||||||
|
| |||||||
China — 0.4% | ||||||||
Lenovo Group Ltd. | 142,257 | 158,211 | ||||||
Tingyi Cayman Islands Holding Corp. | 12,174 | 26,922 | ||||||
Uni-President China Holdings Ltd. | 18,772 | 19,460 | ||||||
Want Want China Holdings Ltd. | 68,295 | 72,633 | ||||||
|
| |||||||
(Cost $232,609) | 277,226 | |||||||
|
| |||||||
Denmark — 1.4% | ||||||||
A.P. Moller — Maersk A/S, Class A | 27 | 81,132 | ||||||
A.P. Moller — Maersk A/S, Class B | 11 | 34,914 | ||||||
Carlsberg A/S, Class B | 1,129 | 165,739 | ||||||
Chr Hansen Holding A/S | 87 | 6,366 | ||||||
Coloplast A/S, Class B | 453 | 68,280 | ||||||
Demant A/S* | 824 | 34,826 |
Number | Value | |||||||
Denmark (Continued) | ||||||||
DSV A/S | 570 | $ | 105,607 | |||||
Genmab A/S* | 137 | 46,132 | ||||||
GN Store Nord AS | 372 | 19,688 | ||||||
H Lundbeck A/S | 110 | 2,673 | ||||||
Novo Nordisk A/S, Class B | 559 | 57,575 | ||||||
Novozymes A/S, Class B | 1,946 | 127,881 | ||||||
Orsted AS, 144A | 182 | 23,667 | ||||||
Pandora A/S | 215 | 22,258 | ||||||
ROCKWOOL International A/S, Class B | 98 | 33,754 | ||||||
Royal Unibrew A/S | 1,096 | 116,906 | ||||||
SimCorp A/S | 404 | 36,615 | ||||||
Tryg A/S | 2,323 | 52,826 | ||||||
Vestas Wind Systems A/S | 1,071 | 35,174 | ||||||
|
| |||||||
(Cost $971,753) | 1,072,013 | |||||||
|
| |||||||
Finland — 1.7% | ||||||||
Elisa OYJ | 2,237 | 124,499 | ||||||
Fortum OYJ | 9,890 | 209,283 | ||||||
Huhtamaki OYJ (b) | 1,354 | 49,715 | ||||||
Kesko OYJ, Class B | 11,059 | 327,182 | ||||||
Kojamo OYJ | 1,808 | 42,158 | ||||||
Kone OYJ, Class B | 864 | 50,832 | ||||||
Neste OYJ (b) | 190 | 7,508 | ||||||
Nokia OYJ* | 1,094 | 5,944 | ||||||
Nokian Renkaat OYJ | 4,860 | 92,799 | ||||||
Nordea Bank Abp | 2,185 | 24,414 | ||||||
Orion OYJ, Class B | 654 | 30,845 | ||||||
Sampo OYJ, Class A | 258 | 12,275 | ||||||
Stora Enso OYJ, Class R | 1,498 | 28,890 | ||||||
UPM-Kymmene OYJ | 3,398 | 118,316 | ||||||
Valmet OYJ | 4,407 | 153,943 | ||||||
Wartsila OYJ Abp | 6,202 | 70,149 | ||||||
|
| |||||||
(Cost $1,475,945) | 1,348,752 | |||||||
|
| |||||||
France — 3.7% | ||||||||
Air Liquide SA | 244 | 40,753 | ||||||
ALD SA, 144A | 786 | 11,035 | ||||||
Amundi SA, 144A | 346 | 24,250 | ||||||
Arkema SA | 407 | 54,354 | ||||||
AXA SA | 1,183 | 32,255 | ||||||
BioMerieux | 82 | 9,037 | ||||||
BNP Paribas SA | 153 | 9,024 | ||||||
Bollore SA | 13,559 | 69,111 | ||||||
Bouygues SA | 1,501 | 53,983 | ||||||
Bureau Veritas SA | 2,336 | 67,327 | ||||||
Capgemini SE | 554 | 117,170 | ||||||
Carrefour SA | 12,524 | 251,799 | ||||||
Cie de Saint-Gobain | 1,649 | 103,628 | ||||||
Cie Generale des Etablissements Michelin SCA | 1,872 | 260,726 | ||||||
Danone SA | 1,045 | 63,746 | ||||||
Dassault Systemes SE | 548 | 26,769 | ||||||
Edenred | 993 | 45,606 | ||||||
Eiffage SA | 556 | 57,029 | ||||||
Electricite de France SA | 734 | 6,703 | ||||||
Engie SA | 4,481 | 71,812 | ||||||
EssilorLuxottica SA | 163 | 28,693 |
See Notes to Financial Statements. | 8 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
France (Continued) | ||||||||
Eurazeo SE | 97 | $ | 7,545 | |||||
Getlink SE | 663 | 10,902 | ||||||
Hermes International | 6 | 8,370 | ||||||
ICADE REIT (b) | 131 | 8,137 | ||||||
Imerys SA | 296 | 12,700 | ||||||
Ipsen SA | 94 | 11,007 | ||||||
JCDecaux SA* | 375 | 10,623 | ||||||
Kering SA | 5 | 3,578 | ||||||
Legrand SA | 1,298 | 123,660 | ||||||
L’Oreal SA | 11 | 4,386 | ||||||
Orange SA | 16,209 | 196,879 | ||||||
Orpea SA | 154 | 6,407 | ||||||
Pernod Ricard SA | 185 | 40,655 | ||||||
Publicis Groupe SA | 3,911 | 261,989 | ||||||
Remy Cointreau SA | 130 | 25,217 | ||||||
Renault SA* | 565 | 18,112 | ||||||
Rexel SA* | 1,123 | 24,969 | ||||||
Rubis SCA | 1,181 | 37,102 | ||||||
Sanofi | 369 | 38,740 | ||||||
Sartorius Stedim Biotech | 34 | 13,114 | ||||||
Schneider Electric SE | 307 | 48,199 | ||||||
SCOR SE | 398 | 13,022 | ||||||
SEB SA | 356 | 52,262 | ||||||
Sodexo SA | 286 | 24,125 | ||||||
Teleperformance | 361 | 134,577 | ||||||
Thales SA | 472 | 54,553 | ||||||
TotalEnergies SE (b) | 202 | 10,344 | ||||||
Ubisoft Entertainment SA* | 125 | 6,788 | ||||||
Veolia Environnement SA | 6,042 | 211,803 | ||||||
Vinci SA | 402 | 42,678 | ||||||
Vivendi SE | 1,739 | 22,091 | ||||||
Wendel SE | 42 | 4,295 | ||||||
|
| |||||||
(Cost $2,652,663) | 2,893,639 | |||||||
|
| |||||||
Germany — 3.5% | ||||||||
1&1 AG | 454 | 10,923 | ||||||
adidas AG | 51 | 12,147 | ||||||
Allianz SE | 84 | 19,181 | ||||||
BASF SE | 923 | 61,425 | ||||||
Bayerische Motoren Werke AG | 579 | 56,293 | ||||||
Bechtle AG | 358 | 18,517 | ||||||
Beiersdorf AG | 402 | 40,827 | ||||||
Brenntag SE | 3,363 | 282,846 | ||||||
Carl Zeiss Meditec AG | 217 | 34,330 | ||||||
Continental AG* | 240 | 20,703 | ||||||
Covestro AG, 144A | 579 | 30,702 | ||||||
Daimler Truck Holding AG* | 290 | 8,853 | ||||||
Deutsche Boerse AG | 62 | 10,634 | ||||||
Deutsche Post AG | 1,639 | 83,136 | ||||||
Deutsche Telekom AG | 1,530 | 27,547 | ||||||
Deutsche Wohnen SE | 320 | 13,374 | ||||||
E.ON SE | 22,882 | 311,446 | ||||||
Evonik Industries AG | 1,923 | 58,080 | ||||||
Fielmann AG | 79 | 4,712 | ||||||
Fresenius Medical Care AG & Co. KGaA | 824 | 53,051 | ||||||
Fresenius SE & Co. KGaA | 1,820 | 63,913 | ||||||
FUCHS PETROLUB SE | 574 | 18,104 |
Number | Value | |||||||
Germany (Continued) | ||||||||
GEA Group AG | 1,820 | $ | 79,868 | |||||
Hannover Rueck SE | 166 | 30,727 | ||||||
HeidelbergCement AG | 599 | 39,116 | ||||||
Henkel AG & Co. KGaA | 269 | 20,727 | ||||||
HOCHTIEF AG | 84 | 5,687 | ||||||
Infineon Technologies AG | 138 | 4,765 | ||||||
KION Group AG | 111 | 8,997 | ||||||
Knorr-Bremse AG | 166 | 14,730 | ||||||
LANXESS AG | 1,440 | 70,487 | ||||||
LEG Immobilien SE | 1,538 | 199,179 | ||||||
Mercedes-Benz Group AG | 565 | 44,530 | ||||||
Merck KGaA | 752 | 149,967 | ||||||
METRO AG* | 5,385 | 50,565 | ||||||
MTU Aero Engines AG | 94 | 22,827 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 113 | 31,369 | ||||||
ProSiebenSat.1 Media SE | 2,078 | 28,627 | ||||||
Puma SE | 191 | 17,587 | ||||||
Rational AG | 32 | 23,650 | ||||||
Rheinmetall AG | 206 | 30,912 | ||||||
RWE AG | 3,600 | 167,766 | ||||||
SAP SE | 56 | 6,373 | ||||||
Scout24 SE, 144A | 562 | 32,951 | ||||||
Siemens AG | 141 | 20,059 | ||||||
Siemens Energy AG | 1,433 | 34,493 | ||||||
Siemens Healthineers AG, 144A | 293 | 18,916 | ||||||
Symrise AG | 406 | 48,566 | ||||||
Talanx AG | 237 | 10,424 | ||||||
Telefonica Deutschland Holding AG | 15,791 | 43,366 | ||||||
Uniper SE | 2,489 | 79,676 | ||||||
United Internet AG | 470 | 16,027 | ||||||
Vitesco Technologies Group AG* | 114 | 4,834 | ||||||
Vonovia SE | 1,657 | 88,404 | ||||||
Wacker Chemie AG | 131 | 20,415 | ||||||
Zalando SE, 144A* | 163 | 10,908 | ||||||
|
| |||||||
(Cost $2,612,635) | 2,718,239 | |||||||
|
| |||||||
Hong Kong — 2.4% | ||||||||
AIA Group Ltd. | 2,686 | 27,930 | ||||||
ASM Pacific Technology Ltd. | 1,600 | 17,487 | ||||||
Bank of East Asia Ltd. | 7,365 | 12,404 | ||||||
BOC Hong Kong Holdings Ltd. | 9,952 | 35,790 | ||||||
Cafe de Coral Holdings Ltd. | 1,846 | 2,830 | ||||||
Chow Tai Fook Jewellery Group Ltd.* | 16,039 | 33,336 | ||||||
CK Asset Holdings Ltd. | 20,703 | 130,757 | ||||||
CK Hutchison Holdings Ltd. | 24,381 | 170,836 | ||||||
CK Infrastructure Holdings Ltd. | 7,422 | 46,069 | ||||||
CLP Holdings Ltd. | 10,310 | 104,964 | ||||||
Dairy Farm International Holdings Ltd. | 3,565 | 9,447 | ||||||
First Pacific Co. Ltd. | 11,851 | 4,641 | ||||||
Hang Lung Group Ltd. | 1,899 | 4,185 | ||||||
Hang Seng Bank Ltd. | 1,937 | 35,747 | ||||||
Henderson Land Development Co. Ltd. | 8,574 | 35,662 | ||||||
Hong Kong & China Gas Co. Ltd. | 39,836 | 60,261 | ||||||
Hong Kong Exchanges & Clearing Ltd. | 630 | 30,445 | ||||||
Hutchison Port Holdings Trust, Class U | 261,600 | 65,400 | ||||||
Hutchison Telecommunications Hong Kong Holdings Ltd. | 60,268 | 9,950 |
See Notes to Financial Statements. | 9 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Hong Kong (Continued) | ||||||||
Jardine Matheson Holdings Ltd. | 800 | $ | 47,600 | |||||
Johnson Electric Holdings Ltd. | 4,966 | 8,249 | ||||||
Kerry Logistics Network Ltd. | 20,731 | 50,304 | ||||||
Kerry Properties Ltd. | 27,641 | 75,703 | ||||||
Lee & Man Paper Manufacturing Ltd. | 5,123 | 3,291 | ||||||
Link REIT | 4,440 | 35,856 | ||||||
MTR Corp. Ltd. | 1,551 | 8,029 | ||||||
New World Development Co. Ltd. | 794 | 3,176 | ||||||
NWS Holdings Ltd. | 10,783 | 10,585 | ||||||
PCCW Ltd. | 35,131 | 19,603 | ||||||
Power Assets Holdings Ltd. | 30,148 | 190,024 | ||||||
Sino Land Co. Ltd. | 53,592 | 67,421 | ||||||
SITC International Holdings Co. Ltd. | 14,118 | 57,999 | ||||||
Sun Hung Kai Properties Ltd. | 5,501 | 63,995 | ||||||
Swire Pacific Ltd., Class A | 3,272 | 18,090 | ||||||
Swire Pacific Ltd., Class B | 11,709 | 10,999 | ||||||
Swire Properties Ltd. | 3,892 | 10,111 | ||||||
Techtronic Industries Co. Ltd. | 2,836 | 47,365 | ||||||
Towngas Smart Energy Co. Ltd.* | 47,385 | 33,597 | ||||||
VTech Holdings Ltd. | 12,801 | 105,259 | ||||||
WH Group Ltd., 144A | 30,128 | 21,014 | ||||||
Wharf Holdings Ltd. | 17,082 | 61,650 | ||||||
Xinyi Glass Holdings Ltd. | 16,334 | 43,377 | ||||||
Yue Yuen Industrial Holdings Ltd.* | 10,200 | 17,231 | ||||||
|
| |||||||
(Cost $1,803,092) | 1,848,669 | |||||||
|
| |||||||
Ireland — 0.9% | ||||||||
CRH PLC | 1,840 | 83,594 | ||||||
DCC PLC | 359 | 28,227 | ||||||
Experian PLC | 878 | 34,552 | ||||||
Glanbia PLC (b) | 9,203 | 129,417 | ||||||
James Hardie Industries PLC CDI | 5,645 | 182,900 | ||||||
Kerry Group PLC, Class A | 443 | 52,843 | ||||||
Kingspan Group PLC | 616 | 60,084 | ||||||
Smurfit Kappa Group PLC | 1,871 | 93,036 | ||||||
|
| |||||||
(Cost $558,819) | 664,653 | |||||||
|
| |||||||
Israel — 3.2% | ||||||||
Airport City Ltd.* | 2,157 | 48,840 | ||||||
Alony Hetz Properties & Investments Ltd. | 2,322 | 40,711 | ||||||
Amot Investments Ltd. | 5,334 | 41,019 | ||||||
Azrieli Group Ltd. | 290 | 24,789 | ||||||
Bank Hapoalim BM | 18,265 | 193,109 | ||||||
Bank Leumi Le-Israel BM | 35,379 | 382,768 | ||||||
Bezeq The Israeli Telecommunication Corp. Ltd.* | 29,971 | 49,275 | ||||||
Big Shopping Centers Ltd. | 99 | 14,633 | ||||||
Elbit Systems Ltd. | 425 | 87,109 | ||||||
Electra Ltd. | 60 | 44,849 | ||||||
First International Bank Of Israel Ltd. | 1,923 | 82,608 | ||||||
Gav-Yam Lands Corp. Ltd. | 4,403 | 53,845 | ||||||
Harel Insurance Investments & Financial Services Ltd. | 5,385 | 65,316 | ||||||
ICL Group Ltd. | 20,198 | 229,362 | ||||||
Israel Corp. Ltd.* | 57 | 29,913 | ||||||
Israel Discount Bank Ltd., Class A | 56,960 | 374,586 | ||||||
Maytronics Ltd. | 813 | 17,493 | ||||||
Melisron Ltd.* | 95 | 7,563 |
Number | Value | |||||||
Israel (Continued) | ||||||||
Mivne Real Estate KD Ltd. | 36,300 | $ | 142,122 | |||||
Mizrahi Tefahot Bank Ltd. | 4,412 | 172,188 | ||||||
Nice Ltd.* | 373 | 84,446 | ||||||
Nova Ltd.* | 460 | 49,926 | ||||||
Phoenix Holdings Ltd. | 6,522 | 80,979 | ||||||
Shapir Engineering and Industry Ltd. (b) | 927 | 9,139 | ||||||
Shufersal Ltd. | 4,608 | 41,215 | ||||||
Strauss Group Ltd. | 830 | 27,266 | ||||||
Tower Semiconductor Ltd.* | 1,587 | 74,165 | ||||||
|
| |||||||
(Cost $1,970,591) | 2,469,234 | |||||||
|
| |||||||
Italy — 1.9% | ||||||||
A2A SpA | 66,767 | 119,763 | ||||||
Amplifon SpA | 550 | 23,753 | ||||||
Assicurazioni Generali SpA | 3,814 | 75,953 | ||||||
Atlantia SpA* | 412 | 7,594 | ||||||
Banca Mediolanum SpA | 986 | 8,153 | ||||||
Buzzi Unicem SpA | 2,230 | 42,843 | ||||||
Davide Campari-Milano NV | 2,481 | 27,164 | ||||||
De’ Longhi SpA | 928 | 29,665 | ||||||
DiaSorin SpA | 143 | 21,467 | ||||||
Enel SpA | 4,019 | 29,789 | ||||||
Ferrari NV | 114 | 24,681 | ||||||
FinecoBank Banca Fineco SpA | 1,440 | 24,140 | ||||||
Hera SpA | 25,127 | 97,791 | ||||||
Interpump Group SpA | 1,768 | 96,233 | ||||||
Intesa Sanpaolo SpA | 11,533 | 29,710 | ||||||
Italgas SpA | 14,168 | 91,948 | ||||||
Iveco Group NV* | 886 | 7,409 | ||||||
Leonardo SpA* | 1,173 | 10,540 | ||||||
Mediobanca Banca di Credito Finanziario SpA | 2,958 | 30,985 | ||||||
Moncler SpA | 1,442 | 87,753 | ||||||
Pirelli & C SpA, 144A | 7,245 | 40,224 | ||||||
Poste Italiane SpA, 144A | 2,542 | 29,337 | ||||||
Prysmian SpA | 2,532 | 83,953 | ||||||
Recordati Industria Chimica e Farmaceutica SpA | 1,085 | 53,329 | ||||||
Reply SpA | 301 | 49,259 | ||||||
Snam SpA | 18,619 | 103,832 | ||||||
Telecom Italia SpA | 129,243 | 54,858 | ||||||
Telecom Italia SpA-RSP | 93,302 | 39,058 | ||||||
Terna—Rete Elettrica Nazionale | 16,268 | 134,155 | ||||||
UnipolSai Assicurazioni SpA | 3,244 | 8,854 | ||||||
|
| |||||||
(Cost $1,500,775) | 1,484,193 | |||||||
|
| |||||||
Japan — 26.1% | ||||||||
ABC-Mart, Inc. (b) | 363 | 15,696 | ||||||
Acom Co. Ltd. | 6,000 | 16,670 | ||||||
Activia Properties, Inc. REIT | 8 | 26,985 | ||||||
Advance Residence Investment Corp. REIT | 11 | 30,753 | ||||||
Advantest Corp. | 300 | 23,625 | ||||||
Aeon Co. Ltd. (b) | 3,049 | 68,763 | ||||||
Aeon Mall Co. Ltd. (b) | 300 | 4,201 | ||||||
AEON REIT Investment Corp. REIT | 33 | 41,001 | ||||||
AGC, Inc. | 5,300 | 234,226 | ||||||
Aica Kogyo Co. Ltd. | 714 | 19,962 |
See Notes to Financial Statements. | 10 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Japan (Continued) | ||||||||
Ain Holdings, Inc. | 300 | $ | 16,670 | |||||
Air Water, Inc. | 7,800 | 113,233 | ||||||
Aisin Corp. | 2,993 | 108,754 | ||||||
Ajinomoto Co., Inc. | 4,800 | 139,155 | ||||||
Amada Co. Ltd. | 6,243 | 54,909 | ||||||
Amano Corp. | 2,600 | 50,747 | ||||||
Anritsu Corp. | 200 | 2,782 | ||||||
Aozora Bank Ltd. | 2,600 | 58,738 | ||||||
As One Corp. | 200 | 11,999 | ||||||
Asahi Group Holdings Ltd. | 392 | 15,806 | ||||||
Asahi Intecc Co. Ltd. | 216 | 4,606 | ||||||
Asahi Kasei Corp. | 14,019 | 131,152 | ||||||
Astellas Pharma, Inc. | 5,783 | 96,329 | ||||||
Azbil Corp. | 3,213 | 120,793 | ||||||
Bandai Namco Holdings, Inc. | 700 | 50,870 | ||||||
Benesse Holdings, Inc. | 300 | 6,090 | ||||||
Bic Camera, Inc. (b) | 1,100 | 9,541 | ||||||
Bridgestone Corp. | 4,324 | 177,390 | ||||||
Brother Industries Ltd. | 5,842 | 105,808 | ||||||
Calbee, Inc. | 280 | 6,277 | ||||||
Canon Marketing Japan, Inc. | 2,600 | 54,201 | ||||||
Canon, Inc. | 10,622 | 248,869 | ||||||
Capcom Co. Ltd. | 408 | 9,830 | ||||||
Casio Computer Co. Ltd. | 698 | 8,151 | ||||||
Chiba Bank Ltd. | 3,700 | 23,419 | ||||||
Chubu Electric Power Co., Inc. | 15,331 | 153,476 | ||||||
Chugai Pharmaceutical Co. Ltd. | 100 | 3,299 | ||||||
Chugoku Electric Power Co., Inc. | 3,283 | 25,711 | ||||||
Coca-Cola Bottlers Japan Holdings, Inc. | 400 | 5,098 | ||||||
COMSYS Holdings Corp. | 3,634 | 87,494 | ||||||
Concordia Financial Group Ltd. | 2,900 | 11,859 | ||||||
Cosmo Energy Holdings Co. Ltd. | 200 | 4,508 | ||||||
Cosmos Pharmaceutical Corp. | 190 | 26,180 | ||||||
Credit Saison Co. Ltd. | 1,100 | 12,368 | ||||||
CyberAgent, Inc. | 300 | 3,871 | ||||||
Dai Nippon Printing Co. Ltd. | 3,907 | 101,326 | ||||||
Daicel Corp. | 8,327 | 63,840 | ||||||
Daido Steel Co. Ltd. | 455 | 16,395 | ||||||
Daifuku Co. Ltd. | 126 | 9,036 | ||||||
Dai-ichi Life Holdings, Inc. | 2,200 | 45,996 | ||||||
Daikin Industries Ltd. | 184 | 33,876 | ||||||
Daio Paper Corp. | 4,900 | 72,325 | ||||||
Daito Trust Construction Co. Ltd. | 3,685 | 406,974 | ||||||
Daiwa House Industry Co. Ltd. | 5,602 | 159,001 | ||||||
Daiwa House REIT Investment Corp. | 26 | 70,319 | ||||||
Daiwa Office Investment Corp. REIT | 2 | 12,294 | ||||||
Daiwa Securities Group, Inc. | 14,245 | 84,326 | ||||||
DeNA Co. Ltd. | 500 | 7,658 | ||||||
Denka Co. Ltd. | 1,000 | 30,649 | ||||||
Denso Corp. | 444 | 31,021 | ||||||
DIC Corp. | 2,700 | 61,396 | ||||||
Disco Corp. | 211 | 58,899 | ||||||
Dowa Holdings Co. Ltd. | 900 | 40,712 | ||||||
Ebara Corp. | 4,400 | 227,688 | ||||||
Electric Power Development Co. Ltd. | 4,576 | 72,509 | ||||||
ENEOS Holdings, Inc. | 20,020 | 78,881 |
Number | Value | |||||||
Japan (Continued) | ||||||||
EXEO Group, Inc. | 1,072 | $ | 22,208 | |||||
Ezaki Glico Co. Ltd. | 400 | 13,649 | ||||||
Fancl Corp. | 200 | 5,635 | ||||||
FANUC Corp. | 96 | 17,633 | ||||||
Food & Life Cos. Ltd. | 184 | 6,071 | ||||||
FP Corp. | 400 | 11,322 | ||||||
Fuji Electric Co. Ltd. | 888 | 45,181 | ||||||
Fuji Media Holdings, Inc. | 800 | 8,655 | ||||||
FUJIFILM Holdings Corp. | 2,451 | 154,540 | ||||||
Fujitsu General Ltd. | 400 | 8,585 | ||||||
Fujitsu Ltd. | 642 | 92,335 | ||||||
Fukuoka Financial Group, Inc. | 500 | 9,902 | ||||||
Fukuyama Transporting Co. Ltd. | 200 | 6,885 | ||||||
Fuyo General Lease Co. Ltd. | 200 | 13,058 | ||||||
GLP J REIT (b) | 26 | 38,738 | ||||||
GMO Payment Gateway, Inc. | 100 | 9,525 | ||||||
GS Yuasa Corp. | 2,638 | 56,505 | ||||||
H.U. Group Holdings, Inc. | 900 | 23,716 | ||||||
Hakuhodo DY Holdings, Inc. | 1,069 | 14,071 | ||||||
Hamamatsu Photonics KK | 850 | 42,731 | ||||||
Hankyu Hanshin Holdings, Inc. | 167 | 4,981 | ||||||
Haseko Corp. | 4,197 | 53,421 | ||||||
Hino Motors Ltd. | 4,159 | 38,891 | ||||||
Hirose Electric Co. Ltd. | 440 | 65,518 | ||||||
Hisamitsu Pharmaceutical Co., Inc. | 140 | 4,449 | ||||||
Hitachi Ltd. | 3,846 | 188,669 | ||||||
Hitachi Metals Ltd.* | 800 | 14,218 | ||||||
Hitachi Transport System Ltd. | 1,280 | 67,570 | ||||||
Honda Motor Co. Ltd. | 3,345 | 102,376 | ||||||
Horiba Ltd. | 500 | 28,609 | ||||||
Hoshizaki Corp. | 313 | 21,686 | ||||||
House Foods Group, Inc. | 857 | 22,144 | ||||||
Hoya Corp. | 500 | 64,489 | ||||||
Hulic Co. Ltd. | 10,048 | 91,341 | ||||||
Idemitsu Kosan Co. Ltd. | 425 | 11,365 | ||||||
IHI Corp. | 300 | 6,923 | ||||||
Iida Group Holdings Co. Ltd. | 7,800 | 143,776 | ||||||
Industrial & Infrastructure Fund Investment Corp. REIT | 26 | 38,896 | ||||||
INFRONEER Holdings, Inc. | 4,984 | 44,139 | ||||||
Inpex Corp. | 3,299 | 33,942 | ||||||
Internet Initiative Japan, Inc. | 1,100 | 34,956 | ||||||
Isuzu Motors Ltd. | 6,200 | 83,815 | ||||||
Ito En Ltd. | 100 | 5,730 | ||||||
ITOCHU Corp. | 5,636 | 183,161 | ||||||
Itochu Techno-Solutions Corp. | 300 | 7,707 | ||||||
Itoham Yonekyu Holdings, Inc. | 5,600 | 33,598 | ||||||
Iwatani Corp. | 4,200 | 198,376 | ||||||
Izumi Co. Ltd. | 500 | 13,957 | ||||||
J. Front Retailing Co. Ltd. (b) | 1,065 | 8,895 | ||||||
Japan Exchange Group, Inc. | 200 | 3,751 | ||||||
Japan Logistics Fund, Inc. REIT | 28 | 73,054 | ||||||
Japan Metropolitan Fund Invest REIT (b) | 48 | 38,800 | ||||||
Japan Post Holdings Co. Ltd.* | 3,500 | 28,994 | ||||||
Japan Post Insurance Co. Ltd. | 700 | 11,997 | ||||||
Japan Prime Realty Investment | 11 | 35,720 |
See Notes to Financial Statements. | 11 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Japan (Continued) | ||||||||
Japan Real Estate Investment Corp. REIT | 9 | $ | 47,901 | |||||
Japan Tobacco, Inc. | 6,764 | 124,503 | ||||||
JFE Holdings, Inc. | 5,100 | 76,162 | ||||||
JSR Corp. | 2,632 | 82,039 | ||||||
JTEKT Corp. | 700 | 6,023 | ||||||
Kadokawa Corp. | 800 | 20,053 | ||||||
Kagome Co. Ltd. | 365 | 9,729 | ||||||
Kajima Corp. | 13,300 | 178,296 | ||||||
Kakaku.com, Inc. | 386 | 8,392 | ||||||
Kaken Pharmaceutical Co. Ltd. | 447 | 16,378 | ||||||
Kamigumi Co. Ltd. | 3,732 | 72,258 | ||||||
Kandenko Co. Ltd. | 5,292 | 40,112 | ||||||
Kaneka Corp. | 4,522 | 147,429 | ||||||
Kansai Electric Power Co., Inc. | 13,411 | 135,304 | ||||||
Kansai Paint Co. Ltd. | 1,088 | 21,718 | ||||||
Kao Corp. | 553 | 25,831 | ||||||
Kawasaki Heavy Industries Ltd. | 1,443 | 26,636 | ||||||
KDDI Corp. | 5,729 | 186,830 | ||||||
Keisei Electric Railway Co. Ltd. | 100 | 2,796 | ||||||
Kenedix Office Investment Corp. REIT | 5 | 29,477 | ||||||
Kewpie Corp. | 3,259 | 69,467 | ||||||
Keyence Corp. | 28 | 13,074 | ||||||
Kikkoman Corp. | 773 | 57,316 | ||||||
Kinden Corp. | 3,800 | 53,779 | ||||||
Kirin Holdings Co. Ltd. | 3,312 | 54,853 | ||||||
Kobayashi Pharmaceutical Co. Ltd. | 126 | 10,743 | ||||||
Kobe Bussan Co. Ltd. | 300 | 9,859 | ||||||
Kobe Steel Ltd. | 2,800 | 14,878 | ||||||
Koei Tecmo Holdings Co. Ltd. | 562 | 19,396 | ||||||
Koito Manufacturing Co. Ltd. | 500 | 25,700 | ||||||
Kokuyo Co. Ltd. | 7,800 | 108,899 | ||||||
Komatsu Ltd. | 2,470 | 56,670 | ||||||
Konami Holdings Corp. | 1,582 | 89,007 | ||||||
Konica Minolta, Inc. | 2,700 | 11,370 | ||||||
Kose Corp. | 100 | 11,400 | ||||||
K’s Holdings Corp. | 3,211 | 34,570 | ||||||
Kubota Corp. | 3,800 | 68,032 | ||||||
Kuraray Co. Ltd. | 5,381 | 50,364 | ||||||
Kurita Water Industries Ltd. | 3,828 | 156,211 | ||||||
Kyocera Corp. | 772 | 44,098 | ||||||
Kyowa Kirin Co. Ltd. | 2,600 | 66,685 | ||||||
Kyudenko Corp. | 1,099 | 29,437 | ||||||
Kyushu Electric Power Co., Inc. | 8,364 | 63,034 | ||||||
LaSalle Logiport REIT | 26 | 37,225 | ||||||
Lawson, Inc. (b) | 2,600 | 108,357 | ||||||
Lintec Corp. | 2,613 | 58,057 | ||||||
Lion Corp. | 2,606 | 34,053 | ||||||
Lixil Corp. | 4,811 | 106,725 | ||||||
M3, Inc. | 100 | 3,707 | ||||||
Mabuchi Motor Co. Ltd. | 400 | 13,770 | ||||||
Makita Corp. | 1,418 | 50,170 | ||||||
Marubeni Corp. | 21,091 | 220,387 | ||||||
Marui Group Co. Ltd. | 379 | 7,420 | ||||||
Maruichi Steel Tube Ltd. | 750 | 18,559 | ||||||
MatsukiyoCocokara & Co. | 2,197 | 84,122 | ||||||
Mazda Motor Corp.* | 5,200 | 38,647 | ||||||
Mebuki Financial Group, Inc. | 5,900 | 13,882 |
Number | Value | |||||||
Japan (Continued) | ||||||||
Medipal Holdings Corp. | 3,151 | $ | 57,371 | |||||
MEIJI Holdings Co. Ltd. | 969 | 58,136 | ||||||
Menicon Co. Ltd. | 200 | 5,180 | ||||||
MINEBEA MITSUMI, Inc. | 1,071 | 23,210 | ||||||
MISUMI Group, Inc. | 3,140 | 99,918 | ||||||
Mitsubishi Chemical Holdings Corp. | 31,802 | 225,700 | ||||||
Mitsubishi Corp. | 3,936 | 132,288 | ||||||
Mitsubishi Electric Corp. | 9,374 | 112,439 | ||||||
Mitsubishi Estate Co. Ltd. | 2,900 | 44,240 | ||||||
Mitsubishi Gas Chemical Co., Inc. | 2,867 | 50,706 | ||||||
Mitsubishi HC Capital, Inc. | 4,050 | 21,063 | ||||||
Mitsubishi Heavy Industries Ltd. | 1,913 | 56,406 | ||||||
Mitsubishi Logistics Corp. | 1,100 | 26,188 | ||||||
Mitsubishi Materials Corp. | 700 | 12,599 | ||||||
Mitsubishi Shokuhin Co. Ltd. | 500 | 13,458 | ||||||
Mitsubishi UFJ Financial Group, Inc. | 2,700 | 16,710 | ||||||
Mitsui & Co. Ltd. | 10,625 | 264,345 | ||||||
Mitsui Chemicals, Inc. | 6,200 | 158,156 | ||||||
Mitsui Fudosan Co. Ltd. | 1,100 | 24,421 | ||||||
Mitsui Fudosan Logistics Park, Inc. REIT | 3 | 13,675 | ||||||
Mitsui OSK Lines Ltd. | 700 | 56,766 | ||||||
Miura Co. Ltd. | 557 | 15,161 | ||||||
Mizuho Financial Group, Inc. | 3,180 | 42,105 | ||||||
MonotaRO Co. Ltd. | 200 | 3,733 | ||||||
Mori Hills REIT Investment Corp. REIT | 11 | 13,180 | ||||||
Morinaga & Co. Ltd. | 300 | 9,742 | ||||||
Morinaga Milk Industry Co. Ltd. | 900 | 45,010 | ||||||
MS&AD Insurance Group Holdings, Inc. | 900 | 30,514 | ||||||
Murata Manufacturing Co. Ltd. | 517 | 34,954 | ||||||
Nabtesco Corp. | 700 | 19,206 | ||||||
Nagase & Co. Ltd. | 4,165 | 66,394 | ||||||
Nankai Electric Railway Co. Ltd. | 418 | 8,489 | ||||||
NEC Corp. | 100 | 4,302 | ||||||
NEC Networks & System Integration Corp. | 1,000 | 15,246 | ||||||
NGK Insulators Ltd. | 4,877 | 75,373 | ||||||
NGK Spark Plug Co. Ltd. | 602 | 10,809 | ||||||
NH Foods Ltd. | 500 | 18,754 | ||||||
NHK Spring Co. Ltd. | 3,000 | 23,807 | ||||||
Nichirei Corp. | 800 | 17,594 | ||||||
Nidec Corp. | 72 | 6,178 | ||||||
Nifco, Inc. | 1,061 | 30,123 | ||||||
Nihon Kohden Corp. | 900 | 24,302 | ||||||
Nihon M&A Center Holdings, Inc. | 700 | 10,107 | ||||||
Nihon Unisys Ltd. | 300 | 8,140 | ||||||
Nikon Corp. | 600 | 6,215 | ||||||
Nintendo Co. Ltd. | 50 | 25,188 | ||||||
Nippon Accommodations Fund, Inc. | 4 | 21,012 | ||||||
Nippon Building Fund, Inc. REIT | 6 | 34,278 | ||||||
Nippon Electric Glass Co. Ltd. | 2,100 | 50,360 | ||||||
Nippon Express Holdings, Inc. | 1,836 | 111,268 | ||||||
Nippon Kayaku Co. Ltd. | 7,800 | 76,933 | ||||||
Nippon Prologis REIT, Inc. REIT | 9 | 26,373 | ||||||
Nippon Sanso Holdings Corp. | 959 | 18,668 | ||||||
Nippon Shinyaku Co. Ltd. | 200 | 12,937 | ||||||
Nippon Shokubai Co. Ltd. | 300 | 14,587 |
See Notes to Financial Statements. | 12 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Japan (Continued) | ||||||||
Nippon Steel Corp. | 4,613 | $ | 84,450 | |||||
Nippon Telegraph & Telephone Corp. | 3,291 | 94,094 | ||||||
Nippon Television Holdings, Inc. | 700 | 8,004 | ||||||
Nippon Yusen KK | 1,200 | 111,170 | ||||||
Nissan Chemical Corp. | 783 | 44,189 | ||||||
Nissan Motor Co. Ltd.* | 14,300 | 67,704 | ||||||
Nisshin Seifun Group, Inc. | 3,878 | 54,883 | ||||||
Nissin Foods Holdings Co. Ltd. | 384 | 30,573 | ||||||
Nitori Holdings Co. Ltd. | 232 | 34,737 | ||||||
Nitto Denko Corp. | 3,143 | 227,862 | ||||||
Noevir Holdings Co. Ltd. | 200 | 8,978 | ||||||
NOF Corp. | 2,807 | 121,371 | ||||||
NOK Corp. | 1,000 | 10,419 | ||||||
Nomura Holdings, Inc. | 5,000 | 22,848 | ||||||
Nomura Real Estate Holdings, Inc. | 886 | 22,039 | ||||||
Nomura Real Estate Master Fund, Inc. | 35 | 46,130 | ||||||
Nomura Research Institute Ltd. | 430 | 14,840 | ||||||
NS Solutions Corp. | 300 | 9,468 | ||||||
NSK Ltd. | 556 | 3,592 | ||||||
NTT Data Corp. | 1,917 | 36,168 | ||||||
Obayashi Corp. | 3,862 | 32,224 | ||||||
Obic Co. Ltd. | 200 | 31,795 | ||||||
Odakyu Electric Railway Co. Ltd. | 209 | 3,437 | ||||||
Oji Holdings Corp. | 24,388 | 124,296 | ||||||
OKUMA Corp. | 100 | 4,050 | ||||||
Omron Corp. | 500 | 33,688 | ||||||
Ono Pharmaceutical Co. Ltd. | 477 | 11,706 | ||||||
Open House Group Co. Ltd. | 545 | 24,606 | ||||||
ORIX Corp. | 9,936 | 196,951 | ||||||
Orix JREIT, Inc. REIT (b) | 40 | 55,880 | ||||||
Osaka Gas Co. Ltd. | 10,129 | 185,475 | ||||||
OSG Corp. | 900 | 14,964 | ||||||
Otsuka Corp. | 608 | 23,412 | ||||||
Otsuka Holdings Co. Ltd. | 1,534 | 52,783 | ||||||
PALTAC Corp. | 382 | 14,759 | ||||||
Pan Pacific International Holdings Corp. | 999 | 16,307 | ||||||
Panasonic Corp. | 8,072 | 83,401 | ||||||
Penta-Ocean Construction Co. Ltd. | 4,420 | 23,141 | ||||||
Persol Holdings Co. Ltd. | 2,629 | 58,298 | ||||||
Pigeon Corp. | 100 | 1,839 | ||||||
Pola Orbis Holdings, Inc. | 500 | 7,797 | ||||||
Rakuten Group, Inc. | 515 | 4,355 | ||||||
Recruit Holdings Co. Ltd. | 326 | 13,640 | ||||||
Relo Group, Inc. | 200 | 2,969 | ||||||
Rengo Co. Ltd. | 7,912 | 59,078 | ||||||
Resona Holdings, Inc. | 7,800 | 35,067 | ||||||
Resorttrust, Inc. | 200 | 3,372 | ||||||
Ricoh Co. Ltd. | 10,200 | 86,701 | ||||||
Rinnai Corp. | 817 | 66,821 | ||||||
Rohm Co. Ltd. | 214 | 16,778 | ||||||
Rohto Pharmaceutical Co. Ltd. | 511 | 17,104 | ||||||
Sankyo Co. Ltd. | 509 | 14,164 | ||||||
Sankyu, Inc. | 1,000 | 34,600 | ||||||
Santen Pharmaceutical Co. Ltd. | 300 | 3,397 | ||||||
Sanwa Holdings Corp. | 10,300 | 114,469 | ||||||
Sapporo Holdings Ltd. | 600 | 11,862 |
Number | Value | |||||||
Japan (Continued) | ||||||||
Sawai Group Holdings Co. Ltd. | 800 | $ | 31,708 | |||||
SCREEN Holdings Co. Ltd. (b) | 200 | 19,310 | ||||||
SCSK Corp. | 600 | 10,200 | ||||||
Secom Co. Ltd. | 635 | 46,433 | ||||||
Seiko Epson Corp. | 4,651 | 71,194 | ||||||
Seino Holdings Co. Ltd. | 2,700 | 28,178 | ||||||
Sekisui Chemical Co. Ltd. | 4,501 | 73,509 | ||||||
Sekisui House Ltd. | 10,036 | 204,423 | ||||||
Sekisui House Reit, Inc. REIT | 50 | 33,167 | ||||||
Seven & i Holdings Co. Ltd. (b) | 4,900 | 237,863 | ||||||
Seven Bank Ltd. | 7,800 | 16,660 | ||||||
SG Holdings Co. Ltd. | 3,944 | 83,280 | ||||||
Shikoku Electric Power Co., Inc. | 3,600 | 27,756 | ||||||
Shimadzu Corp. | 3,896 | 138,859 | ||||||
Shimamura Co. Ltd. | 800 | 72,168 | ||||||
Shimano, Inc. | 400 | 92,312 | ||||||
Shimizu Corp. | 4,746 | 31,358 | ||||||
Shin-Etsu Chemical Co. Ltd. | 300 | 46,026 | ||||||
Shinko Electric Industries Co. Ltd. | 300 | 12,555 | ||||||
Shinsei Bank Ltd. | 500 | 9,403 | ||||||
Shionogi & Co. Ltd. | 1,600 | 106,148 | ||||||
Ship Healthcare Holdings, Inc. | 338 | 6,679 | ||||||
Shizuoka Bank Ltd. | 1,100 | 8,166 | ||||||
SHO-BOND Holdings Co. Ltd. | 449 | 19,999 | ||||||
Skylark Holdings Co. Ltd.* | 600 | 7,851 | ||||||
SMC Corp. | 67 | 39,586 | ||||||
SMS Co. Ltd. | 300 | 8,036 | ||||||
SoftBank Corp. | 5,405 | 68,070 | ||||||
Sohgo Security Services Co. Ltd. | 887 | 31,883 | ||||||
Sojitz Corp. | 8,120 | 133,953 | ||||||
Sompo Holdings, Inc. | 2,600 | 113,323 | ||||||
Sony Group Corp. | 608 | 62,344 | ||||||
Square Enix Holdings Co. Ltd. | 300 | 14,482 | ||||||
Stanley Electric Co. Ltd. | 831 | 19,676 | ||||||
Subaru Corp. | 3,564 | 58,593 | ||||||
Sugi Holdings Co. Ltd. | 1,235 | 69,698 | ||||||
Sumitomo Bakelite Co. Ltd. | 1,400 | 57,799 | ||||||
Sumitomo Chemical Co. Ltd. (b) | 60,500 | 288,908 | ||||||
Sumitomo Corp. | 6,232 | 101,400 | ||||||
Sumitomo Dainippon Pharma Co. Ltd. | 900 | 9,869 | ||||||
Sumitomo Electric Industries Ltd. | 5,726 | 75,692 | ||||||
Sumitomo Forestry Co. Ltd. | 883 | 16,959 | ||||||
Sumitomo Heavy Industries Ltd. | 3,049 | 73,727 | ||||||
Sumitomo Metal Mining Co. Ltd. | 1,069 | 53,332 | ||||||
Sumitomo Mitsui Financial Group, Inc. | 700 | 25,046 | ||||||
Sumitomo Mitsui Trust Holdings, Inc. | 800 | 28,548 | ||||||
Sumitomo Realty & Development Co. Ltd. | 771 | 22,666 | ||||||
Sumitomo Rubber Industries Ltd. | 14,500 | 139,870 | ||||||
Sundrug Co. Ltd. | 788 | 21,346 | ||||||
Suntory Beverage & Food Ltd. | 1,174 | 46,889 | ||||||
Suzuken Co. Ltd. | 384 | 12,369 | ||||||
Suzuki Motor Corp. | 2,642 | 104,900 | ||||||
Sysmex Corp. | 327 | 25,904 | ||||||
T&D Holdings, Inc. | 2,341 | 34,228 | ||||||
Taiheiyo Cement Corp. | 900 | 17,246 | ||||||
Taisei Corp. | 1,534 | 50,811 | ||||||
Taisho Pharmaceutical Holdings Co. Ltd. | 200 | 9,915 |
See Notes to Financial Statements. | 13 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Japan (Continued) | ||||||||
Taiyo Yuden Co. Ltd. | 100 | $ | 4,428 | |||||
Takara Bio, Inc. | 300 | 6,228 | ||||||
Takara Holdings, Inc. | 1,100 | 10,897 | ||||||
Takashimaya Co. Ltd. | 2,700 | 26,326 | ||||||
Takeda Pharmaceutical Co. Ltd. | 300 | 9,119 | ||||||
TDK Corp. | 330 | 13,180 | ||||||
TechnoPro Holdings, Inc. | 1,087 | 31,192 | ||||||
Teijin Ltd. | 4,620 | 55,476 | ||||||
Terumo Corp. | 216 | 6,956 | ||||||
TIS, Inc. | 1,500 | 35,164 | ||||||
Tobu Railway Co. Ltd. | 200 | 4,906 | ||||||
Toda Corp. | 900 | 6,001 | ||||||
Toho Co. Ltd. | 859 | 35,688 | ||||||
Toho Gas Co. Ltd. | 1,049 | 28,007 | ||||||
Tohoku Electric Power Co., Inc. | 4,619 | 29,958 | ||||||
Tokai Rika Co. Ltd. | 900 | 11,909 | ||||||
Tokio Marine Holdings, Inc. | 600 | 34,247 | ||||||
Tokyo Century Corp. | 100 | 4,376 | ||||||
Tokyo Electric Power Co. Holdings, Inc.* | 15,704 | 49,358 | ||||||
Tokyo Electron Ltd. | 100 | 48,422 | ||||||
Tokyo Gas Co. Ltd. | 4,859 | 99,057 | ||||||
Tokyo Ohka Kogyo Co. Ltd. | 500 | 31,430 | ||||||
Tokyo Tatemono Co. Ltd. | 2,700 | 41,306 | ||||||
Tokyu Corp. | 2,600 | 34,584 | ||||||
Tokyu Fudosan Holdings Corp. | 3,822 | 21,205 | ||||||
TOPPAN, Inc. | 8,865 | 173,721 | ||||||
Toray Industries, Inc. | 24,300 | 139,186 | ||||||
Toshiba Corp. | 700 | 27,818 | ||||||
Toshiba TEC Corp. | 91 | 3,852 | ||||||
Tosoh Corp. | 6,241 | 96,887 | ||||||
TOTO Ltd. | 1,380 | 57,932 | ||||||
Toyo Seikan Group Holdings Ltd. | 6,000 | 79,861 | ||||||
Toyo Suisan Kaisha Ltd. | 600 | 25,214 | ||||||
Toyo Tire Corp. | 600 | 7,913 | ||||||
Toyoda Gosei Co. Ltd. | 584 | 11,054 | ||||||
Toyota Boshoku Corp. | 1,100 | 20,018 | ||||||
Toyota Industries Corp. | 398 | 30,202 | ||||||
Toyota Motor Corp. | 500 | 9,284 | ||||||
Toyota Tsusho Corp. | 1,823 | 75,421 | ||||||
Trend Micro, Inc. | 339 | 18,837 | ||||||
TS Tech Co. Ltd. | 2,658 | 35,678 | ||||||
Tsumura & Co. | 300 | 8,309 | ||||||
Tsuruha Holdings, Inc. | 328 | 26,172 | ||||||
TV Asahi Holdings Corp. | 400 | 5,442 | ||||||
Ube Industries Ltd. | 4,393 | 81,014 | ||||||
Ulvac, Inc. | 200 | 9,829 | ||||||
Unicharm Corp. | 877 | 32,895 | ||||||
United Urban Investment Corp. REIT | 46 | 52,520 | ||||||
Ushio, Inc. | 2,001 | 32,367 | ||||||
USS Co. Ltd. | 1,900 | 31,410 | ||||||
Welcia Holdings Co. Ltd. | 542 | 14,424 | ||||||
Yakult Honsha Co. Ltd. | 900 | 48,682 | ||||||
Yamada Holdings Co. Ltd. | 15,657 | 54,240 | ||||||
Yamaguchi Financial Group, Inc. | 2,600 | 16,118 | ||||||
Yamaha Corp. | 481 | 22,385 | ||||||
Yamaha Motor Co. Ltd. | 4,700 | 105,120 | ||||||
Yamato Holdings Co. Ltd. | 5,400 | 105,398 |
Number | Value | |||||||
Japan (Continued) | ||||||||
Yamato Kogyo Co. Ltd. | 1,100 | $ | 35,242 | |||||
Yamazaki Baking Co. Ltd. | 2,653 | 35,865 | ||||||
Yaoko Co. Ltd. | 200 | 11,409 | ||||||
Yaskawa Electric Corp. (b) | 300 | 11,904 | ||||||
Yokogawa Electric Corp. | 900 | 14,417 | ||||||
Yokohama Rubber Co. Ltd. | 3,300 | 46,044 | ||||||
Zenkoku Hosho Co. Ltd. | 1,038 | 43,440 | ||||||
Zensho Holdings Co. Ltd. | 400 | 9,572 | ||||||
Zeon Corp. | 5,059 | 59,078 | ||||||
|
| |||||||
(Cost $20,866,762) | 20,330,224 | |||||||
|
| |||||||
Jordan — 0.0% | ||||||||
Hikma Pharmaceuticals PLC | ||||||||
(Cost $24,222) | 930 | 25,992 | ||||||
|
| |||||||
Luxembourg — 0.4% | ||||||||
Aroundtown SA | 8,854 | 54,995 | ||||||
Eurofins Scientific SE | 702 | 71,390 | ||||||
L’Occitane International SA | 20,878 | 72,143 | ||||||
RTL Group SA | 1,712 | 96,030 | ||||||
Tenaris SA | 2,253 | 29,203 | ||||||
|
| |||||||
(Cost $324,056) | 323,761 | |||||||
|
| |||||||
Netherlands — 2.6% | ||||||||
Aalberts NV | 1,768 | 98,715 | ||||||
ABN AMRO Bank NV, 144A | 556 | 7,408 | ||||||
Adyen NV, 144A* | 1 | 2,094 | ||||||
Akzo Nobel NV | 1,130 | 107,883 | ||||||
ASM International NV | 78 | 25,249 | ||||||
ASML Holding NV | 28 | 18,835 | ||||||
ASR Nederland NV | 1,171 | 50,677 | ||||||
BE Semiconductor Industries NV | 304 | 25,998 | ||||||
CTP NV, 144A | 310 | 5,310 | ||||||
Euronext NV, 144A | 449 | 40,774 | ||||||
EXOR NV | 310 | 23,607 | ||||||
Heineken Holding NV | 462 | 37,751 | ||||||
Heineken NV | 186 | 18,882 | ||||||
IMCD NV | 186 | 30,230 | ||||||
ING Groep NV | 511 | 6,025 | ||||||
Koninklijke Ahold Delhaize NV | 12,210 | 376,868 | ||||||
Koninklijke DSM NV | 563 | 105,794 | ||||||
Koninklijke KPN NV | 70,999 | 243,226 | ||||||
Koninklijke Philips NV | 1,458 | 49,686 | ||||||
Koninklijke Vopak NV | 207 | 7,682 | ||||||
NN Group NV | 2,476 | 118,973 | ||||||
QIAGEN NV* | 766 | 38,545 | ||||||
Randstad NV | 3,304 | 225,261 | ||||||
Signify NV, 144A | 2,276 | 116,521 | ||||||
Stellantis NV | 1,403 | 25,797 | ||||||
Universal Music Group NV | 1,439 | 32,859 | ||||||
Wolters Kluwer NV | 1,817 | 185,351 | ||||||
|
| |||||||
(Cost $1,853,280) | 2,026,001 | |||||||
|
| |||||||
New Zealand — 1.4% | ||||||||
Auckland International Airport Ltd.* | 2,628 | 12,663 | ||||||
Contact Energy Ltd. | 31,152 | 171,187 | ||||||
Fisher & Paykel Healthcare Corp. Ltd. | 3,821 | 71,137 | ||||||
Fletcher Building Ltd. | 55,193 | 250,631 |
See Notes to Financial Statements. | 14 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
New Zealand (Continued) | ||||||||
Infratil Ltd. | 4,135 | $ | 22,247 | |||||
Kiwi Property Group Ltd. | 85,825 | 62,729 | ||||||
Mainfreight Ltd. | 3,969 | 213,243 | ||||||
Mercury NZ Ltd. | 11,527 | 44,621 | ||||||
Meridian Energy Ltd. | 10,419 | 35,220 | ||||||
Ryman Healthcare Ltd. | 3,840 | 25,987 | ||||||
SKYCITY Entertainment Group Ltd. | 8,900 | 17,828 | ||||||
Spark New Zealand Ltd. | 44,464 | 135,560 | ||||||
Xero Ltd.* | 394 | 26,798 | ||||||
|
| |||||||
(Cost $1,099,366) | 1,089,851 | |||||||
|
| |||||||
Norway — 1.3% | ||||||||
Aker BP ASA | 472 | 14,680 | ||||||
Equinor ASA | 181 | 5,731 | ||||||
Gjensidige Forsikring ASA | 1,758 | 43,562 | ||||||
Leroy Seafood Group ASA | 5,025 | 43,886 | ||||||
Mowi ASA | 2,597 | 66,862 | ||||||
Norsk Hydro ASA | 22,726 | 215,950 | ||||||
Orkla ASA | 6,567 | 61,640 | ||||||
Salmar ASA | 528 | 38,980 | ||||||
Telenor ASA | 6,976 | 103,486 | ||||||
TOMRA Systems ASA | 1,548 | 73,090 | ||||||
Yara International ASA | 6,564 | 334,409 | ||||||
|
| |||||||
(Cost $861,863) | 1,002,276 | |||||||
|
| |||||||
Poland — 0.5% | ||||||||
Allegro.eu SA, 144A* (b) | 1,338 | 10,031 | ||||||
Bank Polska Kasa Opieki SA | 299 | 8,262 | ||||||
Cyfrowy Polsat SA | 14,914 | 97,038 | ||||||
Dino Polska SA, 144A* | 393 | 27,731 | ||||||
InPost SA* | 1,717 | 10,642 | ||||||
KGHM Polska Miedz SA | 1,445 | 57,165 | ||||||
LPP SA | 2 | 4,138 | ||||||
Polski Koncern Naftowy ORLEN SA | 1,494 | 25,377 | ||||||
Polskie Gornictwo Naftowe i Gazownictwo SA | 84,405 | 112,338 | ||||||
Powszechna Kasa Oszczednosci Bank Polski SA* | 831 | 8,011 | ||||||
Powszechny Zaklad Ubezpieczen SA | 6,509 | 49,072 | ||||||
Santander Bank Polska SA | 199 | 14,970 | ||||||
|
| |||||||
(Cost $495,522) | 424,775 | |||||||
|
| |||||||
Portugal — 0.3% | ||||||||
EDP—Energias de Portugal SA | 11,173 | 54,766 | ||||||
Galp Energia SGPS SA | 773 | 8,559 | ||||||
Jeronimo Martins SGPS SA | 6,680 | 145,745 | ||||||
|
| |||||||
(Cost $201,539) | 209,070 | |||||||
|
| |||||||
Russia — 0.0% | ||||||||
Polymetal International PLC | 2,320 | 10,932 | ||||||
Raspadskaya OJSC (c) | 1,940 | 2,727 | ||||||
|
| |||||||
(Cost $46,518) | 13,659 | |||||||
|
| |||||||
Singapore — 2.1% | ||||||||
Ascendas Real Estate Investment Trust REIT | 23,936 | 48,844 | ||||||
BOC Aviation Ltd., 144A | 1,544 | 13,387 | ||||||
CapitaLand Integrated Commercial Trust REIT | 21,174 | 32,913 |
Number | Value | |||||||
Singapore (Continued) | ||||||||
ComfortDelGro Corp. Ltd. | 59,744 | $ | 62,057 | |||||
DBS Group Holdings Ltd. | 2,626 | 65,425 | ||||||
Frasers Logistics & Commercial Trust REIT | 96,700 | 99,731 | ||||||
Genting Singapore Ltd. | 64,900 | 36,814 | ||||||
Golden Agri-Resources Ltd. | 305,600 | 64,161 | ||||||
Jardine Cycle & Carriage Ltd. | 3,505 | 56,392 | ||||||
Kenon Holdings Ltd | 241 | 13,669 | ||||||
Keppel REIT | 18,000 | 15,249 | ||||||
Keppel Corp. Ltd. | 10,562 | 46,607 | ||||||
Keppel DC REIT | 11,100 | 17,908 | ||||||
Mapletree Commercial Trust REIT | 13,791 | 18,389 | ||||||
Mapletree Industrial Trust REIT | 9,278 | 17,497 | ||||||
Mapletree Logistics Trust REIT | 46,767 | 60,291 | ||||||
NetLink NBN Trust | 50,500 | 35,528 | ||||||
Olam International Ltd. | 21,764 | 27,577 | ||||||
Oversea-Chinese Banking Corp. Ltd. | 15,962 | 137,225 | ||||||
SATS Ltd.* | 3,865 | 11,304 | ||||||
Sembcorp Industries Ltd. | 9,953 | 18,404 | ||||||
SIA Engineering Co. Ltd.* | 8,100 | 13,068 | ||||||
Singapore Exchange Ltd. | 25,380 | 174,628 | ||||||
Singapore Post Ltd. | 40,900 | 18,982 | ||||||
Singapore Press Holdings Ltd. | 19,600 | 33,642 | ||||||
Singapore Technologies Engineering Ltd. | 52,328 | 147,256 | ||||||
Singapore Telecommunications Ltd. | 26,966 | 50,060 | ||||||
StarHub Ltd. | 21,300 | 19,614 | ||||||
United Overseas Bank Ltd. | 6,100 | 134,407 | ||||||
UOL Group Ltd. | 3,129 | 16,089 | ||||||
Venture Corp. Ltd. | 3,962 | 51,165 | ||||||
Wilmar International Ltd. | 11,400 | 36,784 | ||||||
|
| |||||||
(Cost $1,572,591) | 1,595,067 | |||||||
|
| |||||||
South Korea — 4.2% | ||||||||
Amorepacific Corp. | 99 | 15,150 | ||||||
AMOREPACIFIC Group | 96 | 3,896 | ||||||
BGF retail Co. Ltd. | 107 | 15,084 | ||||||
BNK Financial Group, Inc. | 5,961 | 39,067 | ||||||
Cheil Worldwide, Inc. | 1,878 | 35,144 | ||||||
CJ CheilJedang Corp. | 183 | 57,608 | ||||||
CJ Corp. | 328 | 22,942 | ||||||
CJ Logistics Corp.* | 91 | 9,385 | ||||||
Coway Co. Ltd. | 328 | 19,669 | ||||||
Daewoo Engineering & Construction Co. Ltd.* | 3,789 | 19,759 | ||||||
DB Insurance Co. Ltd. | 1,114 | 57,259 | ||||||
DGB Financial Group, Inc. | 5,162 | 40,700 | ||||||
DL E&C Co. Ltd. | 305 | 32,597 | ||||||
Doosan Bobcat, Inc. | 702 | 22,274 | ||||||
E-MART, Inc. | 632 | 68,333 | ||||||
Fila Holdings Corp. | 232 | 6,792 | ||||||
GS Engineering & Construction Corp. | 1,711 | 60,978 | ||||||
GS Holdings Corp. | 2,131 | 70,894 | ||||||
GS Retail Co. Ltd. | 493 | 10,886 | ||||||
Hana Financial Group, Inc. | 4,461 | 180,688 | ||||||
Hankook Tire & Technology Co. Ltd. | 2,644 | 77,406 | ||||||
Hanon Systems | 946 | 9,087 | ||||||
Hanwha Aerospace Co. Ltd. | 200 | 8,650 |
See Notes to Financial Statements. | 15 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
South Korea (Continued) | ||||||||
Hanwha Corp. | 694 | $ | 17,518 | |||||
Hyundai Department Store Co. Ltd. | 424 | 27,436 | ||||||
Hyundai Engineering & Construction Co. Ltd. | 1,661 | 59,817 | ||||||
Hyundai Glovis Co. Ltd. | 278 | 40,694 | ||||||
Hyundai Heavy Industries Holdings Co. Ltd. | 284 | 12,141 | ||||||
Hyundai Marine & Fire Insurance Co. Ltd. | 1,199 | 28,720 | ||||||
Hyundai Mobis Co. Ltd. | 192 | 35,770 | ||||||
Hyundai Motor Co. | 31 | 4,512 | ||||||
Hyundai Steel Co. | 403 | 13,307 | ||||||
Industrial Bank of Korea | 6,362 | 56,882 | ||||||
Kakao Corp. | 100 | 7,826 | ||||||
KB Financial Group, Inc. | 3,007 | 149,306 | ||||||
KCC Corp. | 183 | 50,455 | ||||||
KEPCO Plant Service & Engineering Co. Ltd.* | 744 | 22,895 | ||||||
Kia Corp. | 2,376 | 145,838 | ||||||
Korea Aerospace Industries Ltd.* | 801 | 24,716 | ||||||
Korea Electric Power Corp. | 3,611 | 69,676 | ||||||
Korea Gas Corp. | 575 | 19,631 | ||||||
Korea Investment Holdings Co. Ltd.* | 104 | 6,851 | ||||||
Korea Zinc Co. Ltd. | 207 | 94,690 | ||||||
KT&G Corp. | 2,234 | 148,271 | ||||||
Kumho Petrochemical Co. Ltd.* | 126 | 16,820 | ||||||
LG Chem Ltd. | 9 | 4,229 | ||||||
LG Corp. | 941 | 58,854 | ||||||
LG Display Co. Ltd. | 2,030 | 31,572 | ||||||
LG Electronics, Inc. | 1,387 | 142,466 | ||||||
LG Household & Health Care Ltd. | 9 | 7,111 | ||||||
LG Innotek Co. Ltd. | 76 | 20,670 | ||||||
LG Uplus Corp. | 7,602 | 83,142 | ||||||
Lotte Chemical Corp. | 60 | 10,978 | ||||||
LOTTE Fine Chemical Co. Ltd. | 249 | 16,423 | ||||||
Lotte Shopping Co. Ltd. | 129 | 9,152 | ||||||
LS Corp. | 104 | 4,212 | ||||||
Mando Corp. | 194 | 7,317 | ||||||
Mirae Asset Securities Co. Ltd. | 1,432 | 10,469 | ||||||
NAVER Corp. | 37 | 9,786 | ||||||
NCSoft Corp. | 48 | 17,705 | ||||||
NH Investment & Securities Co. Ltd. | 1,137 | 10,922 | ||||||
NongShim Co. Ltd. | 78 | 19,916 | ||||||
Orion Corp. | 78 | 5,936 | ||||||
Pan Ocean Co. Ltd. | 1,885 | 10,300 | ||||||
POSCO | 728 | 172,562 | ||||||
Posco International Corp. | 1,624 | 27,892 | ||||||
S-1 Corp. | 333 | 19,332 | ||||||
Samsung C&T Corp. | 335 | 30,648 | ||||||
Samsung Card Co. Ltd. | 298 | 7,968 | ||||||
Samsung Electro-Mechanics Co. Ltd. | 287 | 39,624 | ||||||
Samsung Electronics Co. Ltd. | 291 | 17,450 | ||||||
Samsung Engineering Co. Ltd.* | 1,183 | 22,827 | ||||||
Samsung Fire & Marine Insurance Co. Ltd. | 614 | 97,282 | ||||||
Samsung Life Insurance Co. Ltd. | 351 | 17,457 | ||||||
Samsung SDI Co. Ltd. | 11 | 5,014 | ||||||
Samsung SDS Co. Ltd. | 107 | 12,459 |
Number | Value | |||||||
South Korea (Continued) | ||||||||
Samsung Securities Co. Ltd. | 347 | $ | 12,208 | |||||
Shinhan Financial Group Co. Ltd. | 4,492 | 145,891 | ||||||
Shinsegae, Inc. | 38 | 8,265 | ||||||
SK Hynix, Inc. | 504 | 51,769 | ||||||
SK Square Co. Ltd.* | 572 | 26,546 | ||||||
SK Telecom Co. Ltd. | 1,128 | 51,224 | ||||||
SK, Inc. | 82 | 15,515 | ||||||
S-Oil Corp. | 149 | 10,472 | ||||||
Woori Financial Group, Inc. | 7,924 | 94,243 | ||||||
|
| |||||||
(Cost $3,076,426) | 3,305,828 | |||||||
|
| |||||||
Spain — 1.4% | ||||||||
Acciona SA | 407 | 69,989 | ||||||
ACS Actividades de Construccion y Servicios SA | 450 | 11,029 | ||||||
Banco Bilbao Vizcaya Argentaria SA | 4,190 | 24,896 | ||||||
Banco Santander SA | 2,751 | 9,222 | ||||||
Bankinter SA | 2,075 | 11,877 | ||||||
CaixaBank SA | 4,039 | 13,338 | ||||||
Cellnex Telecom SA, 144A* | 166 | 7,577 | ||||||
EDP Renovaveis SA | 879 | 21,444 | ||||||
Enagas SA | 3,254 | 69,169 | ||||||
Endesa SA | 1,458 | 32,204 | ||||||
Ferrovial SA | 827 | 22,683 | ||||||
Fluidra SA | 1,271 | 38,830 | ||||||
Grifols SA (b) | 940 | 17,965 | ||||||
Iberdrola SA | 4,492 | 51,362 | ||||||
Industria de Diseno Textil SA | 417 | 11,054 | ||||||
Mapfre SA (b) | 13,755 | 27,215 | ||||||
Merlin Properties Socimi SA REIT | 736 | 8,283 | ||||||
Naturgy Energy Group SA | 1,742 | 47,017 | ||||||
Red Electrica Corp. SA | 7,643 | 153,021 | ||||||
Repsol SA | 2,801 | 36,576 | ||||||
Telefonica SA (b) | 91,798 | 440,888 | ||||||
|
| |||||||
(Cost $1,157,315) | 1,125,639 | |||||||
|
| |||||||
Sweden — 5.6% | ||||||||
Alfa Laval AB | 4,868 | 159,891 | ||||||
Assa Abloy AB, Class B | 4,723 | 125,904 | ||||||
Atlas Copco AB, Class A | 919 | 48,140 | ||||||
Atlas Copco AB, Class B | 424 | 19,438 | ||||||
Beijer Ref AB | 869 | 13,231 | ||||||
Boliden AB | 4,694 | 210,624 | ||||||
Castellum AB | 4,195 | 94,050 | ||||||
Electrolux AB, Class B (b) | 9,997 | 180,859 | ||||||
Elekta AB, Class B (b) | 2,531 | 22,070 | ||||||
Epiroc AB, Class A | 5,801 | 110,049 | ||||||
Epiroc AB, Class B | 3,111 | 50,794 | ||||||
Essity AB, Class B | 2,957 | 76,665 | ||||||
Fastighets AB Balder, Class B* | 883 | 55,497 | ||||||
Getinge AB, Class B | 6,566 | 257,820 | ||||||
Hexagon AB, Class B | 6,941 | 94,685 | ||||||
Holmen AB, Class B | 1,874 | 92,844 | ||||||
Husqvarna AB, Class A | 982 | 11,924 | ||||||
Husqvarna AB, Class B | 8,733 | 105,899 | ||||||
Industrivarden AB, Class A | 4,077 | 113,694 | ||||||
Industrivarden AB, Class C | 2,472 | 67,810 | ||||||
Indutrade AB | 4,237 | 94,947 |
See Notes to Financial Statements. | 16 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Sweden (Continued) | ||||||||
Investment AB Latour, Class B | 2,109 | $ | 59,059 | |||||
Investor AB, Class A | 2,320 | 51,890 | ||||||
Investor AB, Class B | 5,288 | 108,750 | ||||||
Kinnevik AB, Class B* | 16,206 | 417,418 | ||||||
L E Lundbergforetagen AB, Class B | 567 | 27,682 | ||||||
Lifco AB, Class B | 2,309 | 53,039 | ||||||
Lundin Energy AB | 1,348 | 49,945 | ||||||
Nibe Industrier AB, Class B | 9,621 | 86,565 | ||||||
Saab AB, Class B | 719 | 21,795 | ||||||
Sagax AB, Class B | 2,795 | 76,996 | ||||||
Sagax AB, Class D | 6,143 | 20,405 | ||||||
Sandvik AB | 4,350 | 95,359 | ||||||
Securitas AB, Class B | 10,511 | 128,016 | ||||||
Skanska AB, Class B | 16,583 | 378,635 | ||||||
SKF AB, Class B | 4,653 | 86,669 | ||||||
Svenska Cellulosa AB SCA, Class B | 3,628 | 59,773 | ||||||
Svenska Handelsbanken AB, Class A | 5,436 | 52,297 | ||||||
Sweco AB, Class B | 927 | 13,083 | ||||||
Swedbank AB, Class A | 728 | 11,841 | ||||||
Swedish Match AB | 18,701 | 137,391 | ||||||
Swedish Orphan Biovitrum AB* | 250 | 5,151 | ||||||
Tele2 AB, Class B | 11,644 | 155,139 | ||||||
Telefonaktiebolaget LM Ericsson, Class B | 4,902 | 45,653 | ||||||
Telia Co. AB | 9,114 | 34,102 | ||||||
Trelleborg AB, Class B | 5,484 | 111,560 | ||||||
Volvo AB, Class A | 718 | 14,127 | ||||||
Volvo AB, Class B | 1,345 | 26,190 | ||||||
|
| |||||||
(Cost $3,914,578) | 4,335,365 | |||||||
|
| |||||||
Switzerland — 4.5% | ||||||||
ABB Ltd. | 3,426 | 116,322 | ||||||
Adecco Group AG | 838 | 39,769 | ||||||
Alcon, Inc. | 578 | 44,781 | ||||||
Baloise Holding AG | 193 | 32,417 | ||||||
Barry Callebaut AG | 38 | 87,809 | ||||||
BKW AG | 367 | 46,323 | ||||||
Chocoladefabriken Lindt & Spruengli AG Participation Certificates | 10 | 106,545 | ||||||
Cie Financiere Richemont SA | 867 | 118,221 | ||||||
Clariant AG* | 1,305 | 23,591 | ||||||
Coca-Cola HBC AG* | 2,275 | 58,119 | ||||||
DKSH Holding AG | 1,199 | 102,656 | ||||||
EMS-Chemie Holding AG | 46 | 45,551 | ||||||
Flughafen Zurich AG* | 57 | 10,251 | ||||||
Geberit AG | 369 | 241,884 | ||||||
Georg Fischer AG | 90 | 111,341 | ||||||
Givaudan SA | 10 | 41,975 | ||||||
Helvetia Holding AG | 288 | 35,096 | ||||||
Holcim Ltd.* | 2,313 | 116,198 | ||||||
Julius Baer Group Ltd. | 182 | 10,673 | ||||||
Kuehne + Nagel International AG | 402 | 110,156 | ||||||
Logitech International SA | 2,775 | 208,401 | ||||||
Lonza Group AG | 48 | 33,348 | ||||||
Medmix AG, 144A* | 142 | 5,256 | ||||||
Nestle SA | 62 | 8,095 | ||||||
OC Oerlikon Corp. AG | 4,668 | 41,722 | ||||||
Partners Group Holding AG | 114 | 154,887 |
Number | Value | |||||||
Switzerland (Continued) | ||||||||
PSP Swiss Property AG | 476 | $ | 61,637 | |||||
Roche Holding AG | 36 | 13,728 | ||||||
Schindler Holding AG | 112 | 25,270 | ||||||
Schindler Holding AG Participation Certificates | 186 | 42,879 | ||||||
SGS SA | 37 | 106,267 | ||||||
SIG Combibloc Group AG* | 4,094 | 92,282 | ||||||
Sika AG | 357 | 119,071 | ||||||
Sonova Holding AG | 415 | 161,486 | ||||||
STMicroelectronics NV | 295 | 12,571 | ||||||
Straumann Holding AG | 48 | 76,359 | ||||||
Sulzer AG | 139 | 11,749 | ||||||
Swatch Group AG — Bearer | 187 | 58,111 | ||||||
Swatch Group AG — Registered | 579 | 34,584 | ||||||
Swiss Life Holding AG | 136 | 83,072 | ||||||
Swiss Prime Site AG | 1,649 | 162,033 | ||||||
Swiss Re AG | 307 | 29,387 | ||||||
Swisscom AG | 185 | 111,026 | ||||||
Tecan Group AG | 193 | 83,683 | ||||||
Temenos AG | 159 | 16,052 | ||||||
UBS Group AG | 3,415 | 62,851 | ||||||
VAT Group AG, 144A | 262 | 99,494 | ||||||
Vifor Pharma AG | 158 | 27,753 | ||||||
Zurich Insurance Group AG | 110 | 50,549 | ||||||
|
| |||||||
(Cost $3,116,373) | 3,493,281 | |||||||
|
| |||||||
United Kingdom — 10.9% | ||||||||
3i Group PLC | 15,076 | 270,148 | ||||||
abrdn PLC | 43,513 | 120,679 | ||||||
Admiral Group PLC | 5,529 | 220,850 | ||||||
Amcor PLC CDI | 14,889 | 171,355 | ||||||
Anglo American PLC | 959 | 49,192 | ||||||
Ashmore Group PLC | 6,889 | 23,293 | ||||||
Ashtead Group PLC | 992 | 64,900 | ||||||
Associated British Foods PLC | 563 | 14,504 | ||||||
AstraZeneca PLC | 90 | 10,939 | ||||||
Auto Trader Group PLC, 144A | 6,000 | 53,375 | ||||||
Aviva PLC | 22,418 | 126,273 | ||||||
B&M European Value Retail SA | 50,112 | 407,058 | ||||||
BAE Systems PLC | 17,755 | 171,429 | ||||||
Barclays PLC | 7,512 | 18,433 | ||||||
Barratt Developments PLC | 1,281 | 10,502 | ||||||
Berkeley Group Holdings PLC | 1,764 | 92,212 | ||||||
British American Tobacco PLC | 1,489 | 65,160 | ||||||
BT Group PLC (b) | 126,292 | 315,605 | ||||||
Bunzl PLC | 3,771 | 150,224 | ||||||
Burberry Group PLC | 1,961 | 51,045 | ||||||
Centrica PLC* | 14,972 | 15,525 | ||||||
CNH Industrial NV | 4,445 | 64,030 | ||||||
ConvaTec Group PLC, 144A | 7,451 | 18,020 | ||||||
Croda International PLC | 114 | 11,448 | ||||||
Dechra Pharmaceuticals PLC | 1,233 | 68,127 | ||||||
Diageo PLC | 1,223 | 61,126 | ||||||
Direct Line Insurance Group PLC | 31,229 | 124,070 | ||||||
Dr. Martens PLC | 4,279 | 16,282 | ||||||
DS Smith PLC | 27,954 | 129,250 | ||||||
Electrocomponents PLC | 6,792 | 90,175 |
See Notes to Financial Statements. | 17 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
United Kingdom (Continued) | ||||||||
Evraz PLC | 4,559 | $ | 8,854 | |||||
Ferguson PLC | 1,510 | 231,273 | ||||||
GlaxoSmithKline PLC | 2,410 | 49,972 | ||||||
Halma PLC | 4,642 | 150,167 | ||||||
Hargreaves Lansdown PLC | 1,550 | 23,594 | ||||||
Howden Joinery Group PLC | 9,456 | 108,251 | ||||||
HSBC Holdings PLC | 2,176 | 15,025 | ||||||
IMI PLC | 7,621 | 149,599 | ||||||
Imperial Brands PLC | 13,397 | 294,617 | ||||||
InterContinental Hotels Group PLC* | 106 | 7,447 | ||||||
Intermediate Capital Group PLC | 404 | 9,291 | ||||||
Intertek Group PLC | 496 | 35,831 | ||||||
ITV PLC* | 47,495 | 70,513 | ||||||
J Sainsbury PLC | 102,642 | 379,694 | ||||||
Johnson Matthey PLC | 6,374 | 161,040 | ||||||
Kingfisher PLC | 30,997 | 127,349 | ||||||
Legal & General Group PLC | 12,613 | 46,912 | ||||||
Lloyds Banking Group PLC | 53,733 | 34,920 | ||||||
Mondi PLC | 7,021 | 148,042 | ||||||
National Grid PLC | 9,993 | 151,619 | ||||||
Next PLC | 576 | 53,033 | ||||||
Pearson PLC | 12,939 | 112,499 | ||||||
Pennon Group PLC | 5,234 | 73,036 | ||||||
Persimmon PLC | 2,543 | 82,333 | ||||||
Phoenix Group Holdings PLC | 1,870 | 15,521 | ||||||
Prudential PLC | 656 | 10,003 | ||||||
Quilter PLC, 144A | 6,121 | 10,652 | ||||||
Reckitt Benckiser Group PLC | 188 | 15,945 | ||||||
RELX PLC | 2,180 | 66,720 | ||||||
Renishaw PLC | 163 | 10,275 | ||||||
Rentokil Initial PLC | 6,658 | 45,364 | ||||||
Rightmove PLC | 9,777 | 88,234 | ||||||
Rio Tinto PLC | 1,147 | 89,123 | ||||||
Royal Mail PLC | 45,317 | 238,778 | ||||||
Sage Group PLC | 8,523 | 80,370 | ||||||
Schroders PLC | 1,065 | 43,783 | ||||||
Segro PLC REIT | 23,314 | 407,130 | ||||||
Severn Trent PLC | 3,246 | 125,259 | ||||||
Smith & Nephew PLC | 1,994 | 35,771 | ||||||
Smiths Group PLC | 1,612 | 33,071 | ||||||
Spirax-Sarco Engineering PLC | 961 | 154,022 | ||||||
SSE PLC | 21,075 | 481,988 | ||||||
St James’s Place PLC | 2,108 | 39,697 | ||||||
Standard Chartered PLC | 1,639 | 11,717 | ||||||
Tate & Lyle PLC | 12,429 | 125,608 | ||||||
Tesco PLC | 85,496 | 332,385 | ||||||
Travis Perkins PLC | 993 | 19,472 | ||||||
Unilever PLC | 181 | 9,099 | ||||||
United Utilities Group PLC | 13,962 | 201,292 | ||||||
Vodafone Group PLC | 104,337 | 184,008 | ||||||
WPP PLC | 3,134 | 44,468 | ||||||
|
| |||||||
(Cost $8,073,416) | 8,449,895 | |||||||
|
| |||||||
United States — 0.2% | ||||||||
Sims Ltd. | 4,093 | 54,085 | ||||||
Waste Connections, Inc. | 874 | 107,842 | ||||||
|
| |||||||
(Cost $138,039) | 161,927 | |||||||
|
| |||||||
TOTAL COMMON STOCKS | 77,244,198 | |||||||
|
|
Number | Value | |||||||
PREFERRED STOCKS — 0.3% | ||||||||
Germany — 0.2% | ||||||||
FUCHS PETROLUB SE | 769 | $ | 30,663 | |||||
Henkel AG & Co. KGaA | 286 | 22,756 | ||||||
Porsche Automobil Holding SE | 1,237 | 126,269 | ||||||
Sartorius AG | 11 | 4,870 | ||||||
|
| |||||||
(Cost $167,144) | 184,558 | |||||||
|
| |||||||
South Korea — 0.1% | ||||||||
Hanwha Corp. | 1,820 | 23,160 | ||||||
LG Electronics, Inc. | 142 | 7,039 | ||||||
Mirae Asset Securities Co. Ltd. | 2,364 | 8,798 | ||||||
|
| |||||||
(Cost $37,674) | 38,997 | |||||||
|
| |||||||
TOTAL PREFERRED STOCKS | 223,555 | |||||||
|
| |||||||
WARRANTS — 0.0% | ||||||||
Switzerland — 0.0% | ||||||||
Cie Financiere Richemont SA*, expires 11/22/23 | 826 | 730 | ||||||
|
| |||||||
SECURITIES LENDING COLLATERAL — 1.3% | ||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (d) (e) | 967,655 | 967,655 | ||||||
|
| |||||||
CASH EQUIVALENTS — 0.0% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (d) | 15,752 | 15,752 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 100.9% | $ | 78,451,890 | ||||||
Other assets and liabilities, net — (0.9%) | (689,283 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 77,762,607 | ||||||
|
|
See Notes to Financial Statements. | 18 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
February 28, 2022 (Unaudited)
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2022 is as follows:
Value ($) at 8/31/2021 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2022 | Value ($) at 2/28/2022 | ||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 1.3% |
| |||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (d)(e) |
| |||||||||||||||||||||||||||||||||||
990,427 | — | (22,772 | ) (f) | — | — | 39 | — | 967,655 | 967,655 | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.0% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (d) |
| |||||||||||||||||||||||||||||||||||
6,186 | 1,350,019 | (1,340,453 | ) | — | — | 8 | — | 15,752 | 15,752 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
996,613 | 1,350,019 | (1,363,225 | ) | — | — | 47 | — | 983,407 | 983,407 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* | Non-income producing security. |
(a) | Stapled Security — A security contractually bound to one or more other securities to form a single saleable unit which cannot be sold separately. |
(b) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2022 amounted to $1,702,032, which is 2.2% 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 $941,418. |
(f) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2022. |
CDI: | Chess Depositary Interest |
OJSC: | Open Joint Stock Company |
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, 2022, open futures contracts purchased were as follows:
Contract Description | Currency | Number of Contracts | Notional Amount | Contract Value | Expiration Date | Unrealized Depreciation | ||||||||||||
MSCI EAFE Futures | USD | 2 | $ | 230,060 | $215,980 | 3/18/2022 | (14,080 | ) |
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, 2022 (Unaudited)
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2022 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
Assets | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stocks (g) | $ | 77,241,471 | $ | — | $ | 2,727 | $ | 77,244,198 | ||||||||
Preferred Stocks (g) | 223,555 | — | — | 223,555 | ||||||||||||
Warrants | 730 | — | — | 730 | ||||||||||||
Short-Term Investments (g) | 983,407 | — | — | 983,407 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 78,449,163 | $ | — | $ | 2,727 | $ | 78,451,890 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liabilities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Derivatives (h) | ||||||||||||||||
Futures Contracts | $ | (14,080 | ) | $ | — | $ | — | $ | (14,080 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | (14,080 | ) | $ | — | $ | — | $ | (14,080 | ) | ||||||
|
|
|
|
|
|
|
|
(g) | See Schedule of Investments for additional detailed categorizations. |
(h) | 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, 2022 (Unaudited)
Number | Value | |||||||
COMMON STOCKS — 99.7% | ||||||||
Argentina — 0.1% | ||||||||
MercadoLibre, Inc.* | 305 | $ | 343,628 | |||||
|
| |||||||
Australia — 2.2% | ||||||||
Ampol Ltd. | 950 | 20,316 | ||||||
APA Group (a) | 7,272 | 53,033 | ||||||
Aristocrat Leisure Ltd. | 4,338 | 117,321 | ||||||
ASX Ltd. | 1,422 | 84,954 | ||||||
Aurizon Holdings Ltd. | 10,414 | 26,449 | ||||||
Australia & New Zealand Banking Group Ltd. | 19,476 | 367,593 | ||||||
BHP Group Ltd. | 33,774 | 1,143,548 | ||||||
BlueScope Steel Ltd. | 2,081 | 30,564 | ||||||
Brambles Ltd. | 9,594 | 68,923 | ||||||
Cochlear Ltd. | 330 | 53,377 | ||||||
Coles Group Ltd. | 8,448 | 106,545 | ||||||
Commonwealth Bank of Australia | 11,685 | 792,468 | ||||||
Computershare Ltd. | 4,529 | 71,185 | ||||||
Crown Resorts Ltd.* | 3,296 | 29,610 | ||||||
CSL Ltd. | 3,194 | 602,563 | ||||||
Dexus REIT | 7,672 | 60,794 | ||||||
Domino’s Pizza Enterprises Ltd. | 400 | 22,916 | ||||||
Endeavour Group Ltd. | 8,796 | 45,701 | ||||||
Evolution Mining Ltd. | 11,669 | 36,157 | ||||||
Fortescue Metals Group Ltd. | 11,475 | 151,132 | ||||||
Goodman Group REIT | 11,117 | 179,331 | ||||||
GPT Group REIT | 14,163 | 50,770 | ||||||
IDP Education Ltd. | 1,516 | 28,888 | ||||||
Insurance Australia Group Ltd. | 15,582 | 52,013 | ||||||
Lendlease Corp. Ltd. (a) | 4,770 | 36,552 | ||||||
Macquarie Group Ltd. | 2,195 | 287,947 | ||||||
Medibank Pvt Ltd. | 19,918 | 45,962 | ||||||
Mineral Resources Ltd. | 1,187 | 38,976 | ||||||
Mirvac Group REIT | 28,130 | 52,868 | ||||||
National Australia Bank Ltd. | 22,313 | 468,580 | ||||||
Newcrest Mining Ltd. | 5,396 | 100,514 | ||||||
Northern Star Resources Ltd. | 7,497 | 56,088 | ||||||
Orica Ltd. | 3,370 | 35,679 | ||||||
Origin Energy Ltd. | 12,729 | 52,650 | ||||||
Qantas Airways Ltd.* | 5,321 | 19,576 | ||||||
QBE Insurance Group Ltd. | 10,139 | 84,536 | ||||||
Ramsay Health Care Ltd. | 1,297 | 60,207 | ||||||
REA Group Ltd. | 387 | 36,979 | ||||||
Reece Ltd. | 811 | 11,399 | ||||||
Rio Tinto Ltd. | 2,490 | 213,518 | ||||||
Santos Ltd. | 22,606 | 119,093 | ||||||
Scentre Group REIT | 33,824 | 75,351 | ||||||
SEEK Ltd. | 2,355 | 45,577 | ||||||
Sonic Healthcare Ltd. | 3,158 | 80,321 | ||||||
South32 Ltd. | 35,530 | 124,013 | ||||||
Stockland REIT | 19,076 | 57,585 | ||||||
Suncorp Group Ltd. | 6,950 | 54,316 | ||||||
Tabcorp Holdings Ltd. | 17,904 | 64,830 | ||||||
Telstra Corp. Ltd. | 24,317 | 69,877 | ||||||
Transurban Group (a) | 21,393 | 196,997 | ||||||
Treasury Wine Estates Ltd. | 5,684 | 47,928 | ||||||
Vicinity Centres REIT | 32,926 | 43,007 |
Number | Value | |||||||
Australia (Continued) | ||||||||
Washington H Soul Pattinson & Co. Ltd. | 1,473 | $ | 26,914 | |||||
Wesfarmers Ltd. | 7,243 | 253,281 | ||||||
Westpac Banking Corp. | 24,966 | 413,239 | ||||||
WiseTech Global Ltd. | 927 | 29,315 | ||||||
Woodside Petroleum Ltd. | 7,135 | 147,766 | ||||||
Woolworths Group Ltd. | 8,763 | 225,676 | ||||||
|
| |||||||
(Cost $7,187,859) | 7,873,268 | |||||||
|
| |||||||
Austria — 0.1% | ||||||||
Erste Group Bank AG | 2,309 | 82,965 | ||||||
OMV AG | 738 | 35,130 | ||||||
Raiffeisen Bank International AG | 1,104 | 18,191 | ||||||
Verbund AG | 352 | 42,700 | ||||||
voestalpine AG | 664 | 21,956 | ||||||
|
| |||||||
(Cost $186,238) | 200,942 | |||||||
|
| |||||||
Belgium — 0.3% | ||||||||
Ageas SA/NV | 1,023 | 49,385 | ||||||
Anheuser-Busch InBev SA/NV | 5,933 | 367,450 | ||||||
Elia Group SA/NV | 230 | 33,222 | ||||||
Etablissements Franz Colruyt NV | 383 | 15,349 | ||||||
Groupe Bruxelles Lambert SA | 677 | 70,672 | ||||||
KBC Group NV | 1,656 | 120,009 | ||||||
Proximus SADP | 1,028 | 20,507 | ||||||
Sofina SA | 121 | 47,187 | ||||||
Solvay SA | 555 | 62,163 | ||||||
UCB SA | 919 | 100,848 | ||||||
Umicore SA | 1,100 | 45,331 | ||||||
|
| |||||||
(Cost $925,135) | 932,123 | |||||||
|
| |||||||
Bermuda — 0.1% | ||||||||
Arch Capital Group Ltd.* | 2,761 | 130,071 | ||||||
Everest Re Group Ltd. | 292 | 87,080 | ||||||
|
| |||||||
(Cost $161,593) | 217,151 | |||||||
|
| |||||||
Canada — 3.8% | ||||||||
Agnico Eagle Mines Ltd. | 3,045 | 153,720 | ||||||
Air Canada* | 1,013 | 19,128 | ||||||
Algonquin Power & Utilities Corp. | 4,511 | 65,228 | ||||||
Alimentation Couche-Tard, Inc. | 5,763 | 226,049 | ||||||
AltaGas Ltd. | 1,504 | 33,107 | ||||||
Ballard Power Systems, Inc.* | 1,657 | 18,943 | ||||||
Bank of Montreal | 4,502 | 513,718 | ||||||
Bank of Nova Scotia | 8,180 | 592,370 | ||||||
Barrick Gold Corp. | 12,266 | 277,069 | ||||||
BCE, Inc. | 906 | 47,552 | ||||||
BlackBerry Ltd.* | 3,819 | 26,196 | ||||||
Brookfield Asset Management, Inc., Class A | 9,517 | 519,764 | ||||||
CAE, Inc. * | 1,927 | 51,519 | ||||||
Cameco Corp. | 2,789 | 68,540 | ||||||
Canadian Apartment Properties REIT | 587 | 24,418 | ||||||
Canadian Imperial Bank of Commerce | 2,997 | 379,082 | ||||||
Canadian National Railway Co. | 4,828 | 598,537 | ||||||
Canadian Natural Resources Ltd. | 8,075 | 450,815 | ||||||
Canadian Pacific Railway Ltd. | 6,234 | 438,668 | ||||||
Canadian Tire Corp. Ltd., Class A | 397 | 58,491 | ||||||
Canadian Utilities Ltd., Class A | 858 | 23,879 |
See Notes to Financial Statements. | 21 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Canada (Continued) | ||||||||
Canopy Growth Corp.*(b) | 1,566 | $ | 11,161 | |||||
CCL Industries, Inc., Class B | 1,033 | 46,537 | ||||||
Cenovus Energy, Inc. | 8,625 | 135,527 | ||||||
CGI, Inc.* | 1,561 | 127,898 | ||||||
Constellation Software, Inc. | 141 | 237,473 | ||||||
Dollarama, Inc. | 2,048 | 105,763 | ||||||
Emera, Inc. | 1,825 | 85,325 | ||||||
Empire Co. Ltd., Class A | 1,657 | 51,290 | ||||||
Enbridge, Inc. | 13,835 | 597,315 | ||||||
Fairfax Financial Holdings Ltd. | 168 | 81,387 | ||||||
First Quantum Minerals Ltd. | 4,329 | 126,865 | ||||||
FirstService Corp. | 216 | 30,729 | ||||||
Fortis, Inc. | 2,959 | 135,498 | ||||||
Franco-Nevada Corp. | 1,261 | 185,578 | ||||||
George Weston Ltd. | 561 | 60,791 | ||||||
GFL Environmental, Inc. | 1,134 | 33,134 | ||||||
Gildan Activewear, Inc. | 1,472 | 57,750 | ||||||
Great-West Lifeco, Inc. | 1,580 | 47,499 | ||||||
Hydro One Ltd., 144A | 2,375 | 58,610 | ||||||
iA Financial Corp., Inc. | 491 | 29,154 | ||||||
IGM Financial, Inc. | 735 | 26,095 | ||||||
Imperial Oil Ltd. | 1,779 | 79,795 | ||||||
Intact Financial Corp. | 1,109 | 158,951 | ||||||
Ivanhoe Mines Ltd., Class A* | 4,066 | 41,354 | ||||||
Keyera Corp. | 1,384 | 32,397 | ||||||
Kinross Gold Corp. | 9,071 | 45,199 | ||||||
Lightspeed Commerce, Inc.* | 830 | 21,791 | ||||||
Loblaw Cos. Ltd. | 1,028 | 80,134 | ||||||
Lululemon Athletica, Inc.* | 772 | 246,994 | ||||||
Lundin Mining Corp. | 4,081 | 39,351 | ||||||
Magna International, Inc. | 1,838 | 136,464 | ||||||
Manulife Financial Corp. | 13,002 | 263,249 | ||||||
Metro, Inc. | 1,477 | 77,044 | ||||||
National Bank of Canada | 2,285 | 183,092 | ||||||
Northland Power, Inc. | 1,734 | 55,095 | ||||||
Nutrien Ltd. | 3,955 | 339,918 | ||||||
Nuvei Corp., 144A* | 406 | 22,026 | ||||||
Onex Corp. | 470 | 31,542 | ||||||
Open Text Corp. | 1,568 | 68,192 | ||||||
Pan American Silver Corp. | 1,246 | 29,452 | ||||||
Parkland Corp. | 1,118 | 29,238 | ||||||
Pembina Pipeline Corp. | 3,363 | 114,279 | ||||||
Power Corp. of Canada | 3,938 | 121,367 | ||||||
Quebecor, Inc., Class B | 1,051 | 22,970 | ||||||
Restaurant Brands International, Inc. | 1,726 | 96,550 | ||||||
RioCan Real Estate Investment Trust REIT | 1,044 | 20,677 | ||||||
Ritchie Bros Auctioneers, Inc. | 560 | 29,330 | ||||||
Rogers Communications, Inc., Class B | 2,129 | 109,929 | ||||||
Royal Bank of Canada | 9,439 | 1,043,436 | ||||||
Saputo, Inc. | 1,547 | 37,884 | ||||||
Shaw Communications, Inc., Class B | 3,011 | 90,234 | ||||||
Shopify, Inc., Class A* | 749 | 519,620 | ||||||
Sun Life Financial, Inc. | 3,878 | 203,814 | ||||||
Suncor Energy, Inc. | 9,840 | 300,704 | ||||||
TC Energy Corp. | 6,727 | 361,185 | ||||||
Teck Resources Ltd., Class B | 3,335 | 120,006 | ||||||
TELUS Corp. | 2,374 | 59,914 |
Number | Value | |||||||
Canada (Continued) | ||||||||
TFI International, Inc. | 574 | $ | 59,792 | |||||
Thomson Reuters Corp. | 1,207 | 121,961 | ||||||
TMX Group Ltd. | 393 | 39,673 | ||||||
Toromont Industries Ltd. | 340 | 28,801 | ||||||
Toronto-Dominion Bank | 12,124 | 977,682 | ||||||
Tourmaline Oil Corp. | 2,075 | 81,799 | ||||||
West Fraser Timber Co. Ltd. | 576 | 57,457 | ||||||
Wheaton Precious Metals Corp. | 2,942 | 128,828 | ||||||
WSP Global, Inc. | 865 | 106,056 | ||||||
|
| |||||||
(Cost $11,259,988) | 13,693,398 | |||||||
|
| |||||||
Chile — 0.0% | ||||||||
Antofagasta PLC | 2,644 | 53,959 | ||||||
|
| |||||||
Denmark — 0.8% | ||||||||
A.P. Moller — Maersk A/S, Class A | 21 | 63,103 | ||||||
A.P. Moller — Maersk A/S, Class B | 33 | 104,742 | ||||||
Ambu A/S, Class B | 1,278 | 23,698 | ||||||
Carlsberg A/S, Class B | 669 | 98,210 | ||||||
Chr Hansen Holding A/S | 759 | 55,539 | ||||||
Coloplast A/S, Class B | 749 | 112,895 | ||||||
Danske Bank A/S | 4,106 | 69,874 | ||||||
Demant A/S* | 626 | 26,458 | ||||||
DSV A/S | 1,377 | 255,125 | ||||||
Genmab A/S* | 402 | 135,365 | ||||||
GN Store Nord AS | 836 | 44,246 | ||||||
Novo Nordisk A/S, Class B | 11,320 | 1,165,921 | ||||||
Novozymes A/S, Class B | 1,331 | 87,466 | ||||||
Orsted AS, 144A | 1,290 | 167,752 | ||||||
Pandora A/S | 688 | 71,225 | ||||||
ROCKWOOL International A/S, Class B | 34 | 11,711 | ||||||
Tryg A/S | 3,314 | 75,362 | ||||||
Vestas Wind Systems A/S | 6,927 | 227,499 | ||||||
|
| |||||||
(Cost $2,418,022) | 2,796,191 | |||||||
|
| |||||||
Finland — 0.3% | ||||||||
Elisa OYJ | 761 | 42,353 | ||||||
Fortum OYJ | 3,181 | 67,313 | ||||||
Kesko OYJ, Class B | 1,553 | 45,946 | ||||||
Kone OYJ, Class B | 2,285 | 134,434 | ||||||
Neste OYJ | 2,896 | 114,433 | ||||||
Nokia OYJ* | 37,714 | 204,918 | ||||||
Nordea Bank Abp | 21,512 | 240,871 | ||||||
Orion OYJ, Class B | 744 | 35,089 | ||||||
Sampo OYJ, Class A | 3,505 | 166,764 | ||||||
Stora Enso OYJ, Class R | 3,357 | 64,741 | ||||||
UPM-Kymmene OYJ | 3,160 | 110,029 | ||||||
Wartsila OYJ Abp | 3,235 | 36,590 | ||||||
|
| |||||||
(Cost $1,295,345) | 1,263,481 | |||||||
|
| |||||||
France — 3.3% | ||||||||
Accor SA* | 1,277 | 43,876 | ||||||
Aeroports de Paris* | 289 | 41,225 | ||||||
Air Liquide SA | 3,194 | 533,462 | ||||||
Airbus SE* | 3,870 | 499,446 | ||||||
Alstom SA | 1,728 | 44,446 | ||||||
Amundi SA, 144A | 257 | 18,013 |
See Notes to Financial Statements. | 22 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
France (Continued) | ||||||||
Arkema SA | 399 | $ | 53,286 | |||||
AXA SA | 13,271 | 361,843 | ||||||
BioMerieux | 297 | 32,732 | ||||||
BNP Paribas SA | 7,459 | 439,926 | ||||||
Bollore SA | 7,861 | 40,068 | ||||||
Bouygues SA | 1,741 | 62,615 | ||||||
Bureau Veritas SA | 2,184 | 62,946 | ||||||
Capgemini SE | 1,072 | 226,727 | ||||||
Carrefour SA | 4,679 | 94,073 | ||||||
Cie de Saint-Gobain | 3,617 | 227,303 | ||||||
Cie Generale des Etablissements Michelin SCA | 1,144 | 159,333 | ||||||
CNP Assurances | 1,204 | 29,440 | ||||||
Covivio REIT | 394 | 32,500 | ||||||
Credit Agricole SA | 7,737 | 99,642 | ||||||
Danone SA | 4,428 | 270,112 | ||||||
Dassault Aviation SA | 202 | 30,471 | ||||||
Dassault Systemes SE | 4,408 | 215,322 | ||||||
Edenred | 1,465 | 67,284 | ||||||
Eiffage SA | 602 | 61,747 | ||||||
Electricite de France SA | 2,709 | 24,738 | ||||||
Engie SA | 12,196 | 195,451 | ||||||
EssilorLuxottica SA | 1,877 | 330,404 | ||||||
Eurazeo SE | 246 | 19,134 | ||||||
Faurecia SE (b) | 1,179 | 45,091 | ||||||
Gecina SA REIT | 310 | 39,520 | ||||||
Getlink SE | 3,272 | 53,804 | ||||||
Hermes International | 221 | 308,298 | ||||||
Ipsen SA | 117 | 13,700 | ||||||
Kering SA | 490 | 350,640 | ||||||
Klepierre SA REIT* | 1,118 | 32,222 | ||||||
La Francaise des Jeux SAEM, 144A | 676 | 28,162 | ||||||
Legrand SA | 1,723 | 164,150 | ||||||
L’Oreal SA | 1,695 | 675,858 | ||||||
LVMH Moet Hennessy Louis Vuitton SE | 1,845 | 1,367,514 | ||||||
Orange SA | 14,709 | 178,660 | ||||||
Orpea SA | 455 | 18,929 | ||||||
Pernod Ricard SA | 1,394 | 306,337 | ||||||
Publicis Groupe SA | 1,467 | 98,271 | ||||||
Remy Cointreau SA | 74 | 14,354 | ||||||
Renault SA* | 1,727 | 55,361 | ||||||
Safran SA | 2,165 | 278,919 | ||||||
Sanofi | 7,667 | 804,924 | ||||||
Sartorius Stedim Biotech | 192 | 74,056 | ||||||
Schneider Electric SE | 3,544 | 556,411 | ||||||
SEB SA | 129 | 18,937 | ||||||
Societe Generale SA | 5,244 | 151,021 | ||||||
Sodexo SA | 460 | 38,802 | ||||||
Teleperformance | 398 | 148,370 | ||||||
Thales SA | 526 | 60,794 | ||||||
TotalEnergies SE (b) | 16,810 | 860,785 | ||||||
Ubisoft Entertainment SA* | 462 | 25,090 | ||||||
Unibail-Rodamco-Westfield REIT* | 760 | 57,945 | ||||||
Valeo | 1,477 | 32,823 | ||||||
Veolia Environnement SA | 4,120 | 144,427 | ||||||
Vinci SA | 3,518 | 373,488 | ||||||
Vivendi SE | 4,701 | 59,719 | ||||||
Wendel SE | 215 | 21,987 |
Number | Value | |||||||
France (Continued) | ||||||||
Worldline SA, 144A* | 1,559 | $ | 80,383 | |||||
|
| |||||||
(Cost $10,685,801) | 11,857,317 | |||||||
|
| |||||||
Germany — 2.4% | ||||||||
adidas AG | 1,286 | 306,293 | ||||||
Allianz SE | 2,827 | 645,536 | ||||||
BASF SE | 6,124 | 407,550 | ||||||
Bayer AG | 6,641 | 384,222 | ||||||
Bayerische Motoren Werke AG | 2,260 | 219,727 | ||||||
Bechtle AG | 495 | 25,603 | ||||||
Beiersdorf AG | 506 | 51,389 | ||||||
Brenntag SE | 895 | 75,274 | ||||||
Carl Zeiss Meditec AG | 214 | 33,855 | ||||||
Commerzbank AG* | 7,133 | 60,361 | ||||||
Continental AG* | 607 | 52,361 | ||||||
Covestro AG, 144A | 1,287 | 68,245 | ||||||
Daimler Truck Holding AG* | 2,884 | 88,044 | ||||||
Delivery Hero SE, 144A* | 1,044 | 56,063 | ||||||
Deutsche Bank AG*(c) | 13,614 | 172,180 | ||||||
Deutsche Boerse AG | 1,240 | 212,676 | ||||||
Deutsche Lufthansa AG* | 3,513 | 27,123 | ||||||
Deutsche Post AG | 6,763 | 343,045 | ||||||
Deutsche Telekom AG | 22,682 | 408,387 | ||||||
E.ON SE | 14,252 | 193,983 | ||||||
Evonik Industries AG | 1,011 | 30,535 | ||||||
Fresenius Medical Care AG & Co. KGaA | 1,298 | 83,568 | ||||||
Fresenius SE & Co. KGaA | 2,620 | 92,006 | ||||||
GEA Group AG | 1,384 | 60,735 | ||||||
Hannover Rueck SE | 480 | 88,850 | ||||||
HeidelbergCement AG | 1,028 | 67,131 | ||||||
HelloFresh SE* | 1,026 | 56,330 | ||||||
Henkel AG & Co. KGaA | 664 | 51,162 | ||||||
Infineon Technologies AG | 8,850 | 305,615 | ||||||
KION Group AG | 567 | 45,955 | ||||||
Knorr-Bremse AG | 390 | 34,606 | ||||||
LANXESS AG | 741 | 36,271 | ||||||
LEG Immobilien SE | 390 | 50,507 | ||||||
Mercedes-Benz Group AG | 5,769 | 454,684 | ||||||
Merck KGaA | 847 | 168,912 | ||||||
MTU Aero Engines AG | 386 | 93,735 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 921 | 255,669 | ||||||
Nemetschek SE | 332 | 29,623 | ||||||
Puma SE | 665 | 61,233 | ||||||
Rational AG | 34 | 25,128 | ||||||
RWE AG | 4,300 | 200,387 | ||||||
SAP SE | 6,909 | 786,263 | ||||||
Scout24 SE, 144A | 329 | 19,290 | ||||||
Siemens AG | 5,123 | 728,821 | ||||||
Siemens Energy AG | 2,644 | 63,642 | ||||||
Siemens Healthineers AG, 144A | 1,929 | 124,539 | ||||||
Symrise AG | 919 | 109,932 | ||||||
Telefonica Deutschland Holding AG | 6,863 | 18,847 | ||||||
Uniper SE | 549 | 17,574 | ||||||
United Internet AG | 923 | 31,475 | ||||||
Volkswagen AG | 221 | 58,383 | ||||||
Vonovia SE | 5,004 | 266,974 |
See Notes to Financial Statements. | 23 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Germany (Continued) | ||||||||
Zalando SE, 144A* | 1,391 | $ | 93,086 | |||||
|
| |||||||
(Cost $9,119,430) | 8,443,385 | |||||||
|
| |||||||
Hong Kong — 0.8% | ||||||||
AIA Group Ltd. | 79,005 | 821,526 | ||||||
BOC Hong Kong Holdings Ltd. | 22,672 | 81,534 | ||||||
Budweiser Brewing Co. APAC Ltd., 144A | 13,083 | 40,603 | ||||||
Chow Tai Fook Jewellery Group Ltd.* | 14,080 | 29,264 | ||||||
CK Asset Holdings Ltd. | 13,614 | 85,984 | ||||||
CK Hutchison Holdings Ltd. | 17,528 | 122,817 | ||||||
CK Infrastructure Holdings Ltd. | 6,759 | 41,954 | ||||||
CLP Holdings Ltd. | 10,691 | 108,843 | ||||||
ESR Cayman Ltd., 144A* | 17,220 | 53,222 | ||||||
Futu Holdings Ltd., ADR* (b) | 405 | 17,314 | ||||||
Galaxy Entertainment Group Ltd.* | 13,381 | 74,408 | ||||||
Hang Lung Properties Ltd. | 18,097 | 37,937 | ||||||
Hang Seng Bank Ltd. | 4,523 | 83,471 | ||||||
Henderson Land Development Co. Ltd. | 11,292 | 46,968 | ||||||
HK Electric Investments & HK Electric Investments Ltd. (a) | 27,944 | 27,573 | ||||||
HKT Trust & HKT Ltd. (a) | 20,575 | 27,754 | ||||||
Hong Kong & China Gas Co. Ltd. | 65,041 | 98,389 | ||||||
Hong Kong Exchanges & Clearing Ltd. | 8,240 | 398,201 | ||||||
Hongkong Land Holdings Ltd. | 4,800 | 25,872 | ||||||
Jardine Matheson Holdings Ltd. | 1,251 | 74,435 | ||||||
Link REIT | 13,211 | 106,686 | ||||||
Melco Resorts & Entertainment Ltd., | 1,597 | 16,002 | ||||||
MTR Corp. Ltd. | 11,118 | 57,556 | ||||||
New World Development Co. Ltd. | 4,589 | 18,353 | ||||||
Power Assets Holdings Ltd. | 7,383 | 46,535 | ||||||
Sino Land Co. Ltd. | 33,033 | 41,557 | ||||||
SITC International Holdings Co. Ltd. | 9,779 | 40,174 | ||||||
Sun Hung Kai Properties Ltd. | 9,427 | 109,668 | ||||||
Swire Pacific Ltd., Class A | 3,986 | 22,038 | ||||||
Swire Properties Ltd. | 8,517 | 22,127 | ||||||
Techtronic Industries Co. Ltd. | 9,250 | 154,488 | ||||||
WH Group Ltd., 144A | 69,798 | 48,684 | ||||||
Wharf Real Estate Investment Co. Ltd. | 9,055 | 40,618 | ||||||
Xinyi Glass Holdings Ltd. | 10,844 | 28,797 | ||||||
|
| |||||||
(Cost $3,202,259) | 3,051,352 | |||||||
|
| |||||||
Ireland — 1.1% | ||||||||
Accenture PLC, Class A | 4,256 | 1,344,981 | ||||||
AerCap Holdings NV* | 900 | 48,987 | ||||||
Allegion PLC | 673 | 77,072 | ||||||
Aptiv PLC* | 1,863 | 241,147 | ||||||
CRH PLC | 5,476 | 249,778 | ||||||
DCC PLC | 669 | 52,601 | ||||||
Experian PLC | 6,024 | 237,066 | ||||||
Flutter Entertainment PLC* | 1,020 | 146,931 | ||||||
James Hardie Industries PLC CDI | 2,807 | 90,948 | ||||||
Jazz Pharmaceuticals PLC* | 389 | 53,456 | ||||||
Kerry Group PLC, Class A | 993 | 118,449 | ||||||
Kingspan Group PLC | 1,159 | 113,047 | ||||||
Medtronic PLC | 8,882 | 932,521 | ||||||
Smurfit Kappa Group PLC | 1,381 | 69,165 |
Number | Value | |||||||
Ireland (Continued) | ||||||||
Trane Technologies PLC | 1,647 | $ | 253,523 | |||||
|
| |||||||
(Cost $3,758,688) | 4,029,672 | |||||||
|
| |||||||
Israel — 0.3% | ||||||||
Azrieli Group Ltd. | 304 | 25,986 | ||||||
Bank Hapoalim BM | 6,517 | 68,902 | ||||||
Bank Leumi Le-Israel BM | 9,309 | 100,715 | ||||||
Check Point Software Technologies Ltd.* | 752 | 108,950 | ||||||
CyberArk Software Ltd.* | 239 | 40,663 | ||||||
Elbit Systems Ltd. | 288 | 59,029 | ||||||
Fiverr International Ltd.* | 216 | 17,045 | ||||||
ICL Group Ltd. | 4,868 | 55,279 | ||||||
Inmode Ltd.* | 345 | 14,728 | ||||||
Israel Discount Bank Ltd., Class A | 7,898 | 51,940 | ||||||
Kornit Digital Ltd.* | 317 | 30,061 | ||||||
Mizrahi Tefahot Bank Ltd. | 1,200 | 46,833 | ||||||
Nice Ltd.* | 463 | 104,821 | ||||||
SolarEdge Technologies, Inc.* | 310 | 99,020 | ||||||
Teva Pharmaceutical Industries Ltd., | 7,822 | 63,593 | ||||||
Wix.com Ltd.* | 387 | 35,441 | ||||||
|
| |||||||
(Cost $825,263) | 923,006 | |||||||
|
| |||||||
Italy — 0.6% | ||||||||
Amplifon SpA | 761 | 32,865 | ||||||
Assicurazioni Generali SpA | 8,076 | 160,828 | ||||||
Atlantia SpA* | 2,734 | 50,392 | ||||||
Davide Campari-Milano NV | 3,512 | 38,453 | ||||||
DiaSorin SpA | 193 | 28,972 | ||||||
Enel SpA | 54,604 | 404,725 | ||||||
Eni SpA | 17,021 | 264,440 | ||||||
Ferrari NV | 847 | 183,373 | ||||||
FinecoBank Banca Fineco SpA | 3,367 | 56,444 | ||||||
Infrastrutture Wireless Italiane SpA, 144A | 1,838 | 18,811 | ||||||
Intesa Sanpaolo SpA | 110,796 | 285,417 | ||||||
Mediobanca Banca di Credito Finanziario SpA | 3,594 | 37,647 | ||||||
Moncler SpA | 1,382 | 84,102 | ||||||
Nexi SpA, 144A* | 2,464 | 33,958 | ||||||
Poste Italiane SpA, 144A | 4,676 | 53,965 | ||||||
Prysmian SpA | 1,928 | 63,927 | ||||||
Recordati Industria Chimica e Farmaceutica SpA | 829 | 40,747 | ||||||
Snam SpA | 16,484 | 91,926 | ||||||
Telecom Italia SpA | 33,584 | 14,255 | ||||||
Terna — Rete Elettrica Nazionale | 8,243 | 67,976 | ||||||
UniCredit SpA | 15,207 | 194,513 | ||||||
|
| |||||||
(Cost $2,078,190) | 2,207,736 | |||||||
|
| |||||||
Jersey — 0.0% | ||||||||
Novocure Ltd.* (b) | 577 | 47,233 | ||||||
|
| |||||||
Jordan — 0.0% | ||||||||
Hikma Pharmaceuticals PLC | 1,282 | 35,830 | ||||||
|
| |||||||
Luxembourg — 0.1% | ||||||||
ArcelorMittal SA | 4,854 | 151,048 |
See Notes to Financial Statements. | 24 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Luxembourg (Continued) | ||||||||
Aroundtown SA | 6,866 | $ | 42,647 | |||||
Eurofins Scientific SE | 929 | 94,474 | ||||||
Tenaris SA | 3,153 | 40,868 | ||||||
|
| |||||||
(Cost $252,930) | 329,037 | |||||||
|
| |||||||
Macau — 0.0% | ||||||||
Sands China Ltd.* | 16,680 | 43,655 | ||||||
|
| |||||||
Netherlands — 1.5% | ||||||||
ABN AMRO Bank NV, 144A | 1,839 | 24,502 | ||||||
Adyen NV, 144A* | 131 | 274,326 | ||||||
Aegon NV | 15,741 | 78,059 | ||||||
Akzo Nobel NV | 1,208 | 115,330 | ||||||
Argenx SE* | 313 | 90,035 | ||||||
ASM International NV | 309 | 100,025 | ||||||
ASML Holding NV | 2,769 | 1,862,664 | ||||||
Euronext NV, 144A | 759 | 68,925 | ||||||
EXOR NV | 845 | 64,349 | ||||||
Heineken Holding NV | 618 | 50,499 | ||||||
Heineken NV | 1,850 | 187,803 | ||||||
IMCD NV | 411 | 66,799 | ||||||
ING Groep NV | 27,223 | 320,996 | ||||||
JDE Peet’s NV | 483 | 15,882 | ||||||
Just Eat Takeaway.com NV, 144A* | 1,203 | 48,941 | ||||||
Koninklijke Ahold Delhaize NV | 7,320 | 225,936 | ||||||
Koninklijke DSM NV | 1,102 | 207,078 | ||||||
Koninklijke KPN NV | 23,931 | 81,982 | ||||||
Koninklijke Philips NV | 6,222 | 212,033 | ||||||
NN Group NV | 2,122 | 101,963 | ||||||
NXP Semiconductors NV | 1,791 | 340,505 | ||||||
Prosus NV* | 6,293 | 391,725 | ||||||
QIAGEN NV* | 1,836 | 92,386 | ||||||
Randstad NV | 927 | 63,201 | ||||||
Stellantis NV | 13,439 | 247,100 | ||||||
Universal Music Group NV | 4,701 | 107,346 | ||||||
Wolters Kluwer NV | 1,745 | 178,006 | ||||||
|
| |||||||
(Cost $5,085,788) | 5,618,396 | |||||||
|
| |||||||
New Zealand — 0.1% | ||||||||
Auckland International Airport Ltd.* | 10,128 | 48,801 | ||||||
Fisher & Paykel Healthcare Corp. Ltd. | 3,476 | 64,714 | ||||||
Mercury NZ Ltd. | 5,584 | 21,616 | ||||||
Meridian Energy Ltd. | 4,240 | 14,333 | ||||||
Ryman Healthcare Ltd. | 2,265 | 15,329 | ||||||
Spark New Zealand Ltd. | 14,256 | 43,463 | ||||||
Xero Ltd.* | 1,011 | 68,763 | ||||||
|
| |||||||
(Cost $337,046) | 277,019 | |||||||
|
| |||||||
Norway — 0.2% | ||||||||
Adevinta ASA* | 1,115 | 11,977 | ||||||
Aker BP ASA | 750 | 23,326 | ||||||
DNB Bank ASA | 6,129 | 137,375 | ||||||
Equinor ASA | 6,318 | 200,059 | ||||||
Gjensidige Forsikring ASA | 1,130 | 28,001 | ||||||
Mowi ASA | 2,734 | 70,389 | ||||||
Norsk Hydro ASA | 10,513 | 99,898 | ||||||
Orkla ASA | 5,569 | 52,273 | ||||||
Schibsted ASA, Class A | 551 | 15,865 |
Number | Value | |||||||
Norway (Continued) | ||||||||
Schibsted ASA, Class B (d) | 624 | $ | 16,193 | |||||
Telenor ASA | 5,040 | 74,766 | ||||||
Yara International ASA | 919 | 46,819 | ||||||
|
| |||||||
(Cost $606,147) | 776,941 | |||||||
|
| |||||||
Poland — 0.0% | ||||||||
InPost SA* | 1,403 | 8,696 | ||||||
|
| |||||||
Portugal — 0.0% | ||||||||
EDP—Energias de Portugal SA | 19,738 | 96,748 | ||||||
Galp Energia SGPS SA | 2,465 | 27,294 | ||||||
Jeronimo Martins SGPS SA | 2,217 | 48,371 | ||||||
|
| |||||||
(Cost $171,113) | 172,413 | |||||||
|
| |||||||
Singapore — 0.4% | ||||||||
Ascendas Real Estate Investment Trust REIT | 21,479 | 43,830 | ||||||
CapitaLand Integrated Commercial Trust REIT | 22,456 | 34,905 | ||||||
Capitaland Investment Ltd.* | 10,302 | 28,004 | ||||||
City Developments Ltd. | 3,300 | 17,309 | ||||||
DBS Group Holdings Ltd. | 12,207 | 304,130 | ||||||
Genting Singapore Ltd. | 62,700 | 35,566 | ||||||
Grab Holdings Ltd., Class A* | 8,008 | 46,126 | ||||||
Keppel Corp. Ltd. | 9,800 | 43,244 | ||||||
Mapletree Commercial Trust REIT | 14,100 | 18,801 | ||||||
Mapletree Logistics Trust REIT | 12,728 | 16,409 | ||||||
Oversea-Chinese Banking Corp. Ltd. | 22,285 | 191,584 | ||||||
Sea Ltd., ADR* | 2,218 | 322,941 | ||||||
Singapore Airlines Ltd.* (b) | 4,050 | 15,186 | ||||||
Singapore Exchange Ltd. | 2,931 | 20,167 | ||||||
Singapore Technologies Engineering Ltd. | 10,502 | 29,554 | ||||||
Singapore Telecommunications Ltd. | 51,300 | 95,234 | ||||||
United Overseas Bank Ltd. | 8,401 | 185,107 | ||||||
UOL Group Ltd. | 2,801 | 14,403 | ||||||
Venture Corp. Ltd. | 2,056 | 26,551 | ||||||
Wilmar International Ltd. | 12,900 | 41,624 | ||||||
|
| |||||||
(Cost $1,500,357) | 1,530,675 | |||||||
|
| |||||||
Spain — 0.7% | ||||||||
ACS Actividades de Construccion y Servicios SA | 1,404 | 34,410 | ||||||
Aena SME SA, 144A* | 481 | 79,040 | ||||||
Amadeus IT Group SA* | 2,779 | 187,095 | ||||||
Banco Bilbao Vizcaya Argentaria SA | 41,679 | 247,645 | ||||||
Banco Santander SA | 118,583 | 397,513 | ||||||
CaixaBank SA | 24,226 | 79,999 | ||||||
Cellnex Telecom SA, 144A* | 3,312 | 151,183 | ||||||
EDP Renovaveis SA | 1,855 | 45,254 | ||||||
Enagas SA | 1,748 | 37,157 | ||||||
Endesa SA | 2,109 | 46,583 | ||||||
Ferrovial SA | 3,793 | 104,037 | ||||||
Grifols SA (b) | 2,285 | 43,669 | ||||||
Iberdrola SA | 38,405 | 439,130 | ||||||
Industria de Diseno Textil SA | 7,312 | 193,823 | ||||||
Naturgy Energy Group SA | 1,288 | 34,764 | ||||||
Red Electrica Corp. SA | 2,632 | 52,695 |
See Notes to Financial Statements. | 25 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Spain (Continued) | ||||||||
Repsol SA | 10,029 | $ | 130,962 | |||||
Siemens Gamesa Renewable Energy | 1,297 | 30,199 | ||||||
Telefonica SA | 35,234 | 169,222 | ||||||
|
| |||||||
(Cost $2,458,367) | 2,504,380 | |||||||
|
| |||||||
Sweden — 1.0% | ||||||||
Alfa Laval AB | 2,192 | 71,997 | ||||||
Assa Abloy AB, Class B | 6,593 | 175,754 | ||||||
Atlas Copco AB, Class A | 4,564 | 239,075 | ||||||
Atlas Copco AB, Class B | 2,635 | 120,803 | ||||||
Boliden AB | 1,332 | 59,768 | ||||||
Electrolux AB, Class B (b) | 1,477 | 26,721 | ||||||
Embracer Group AB* | 2,591 | 22,511 | ||||||
Epiroc AB, Class A | 4,594 | 87,152 | ||||||
Epiroc AB, Class B | 2,975 | 48,574 | ||||||
EQT AB | 2,015 | 68,510 | ||||||
Essity AB, Class B | 4,454 | 115,477 | ||||||
Evolution AB, 144A | 1,116 | 130,162 | ||||||
Fastighets AB Balder, Class B* | 865 | 54,366 | ||||||
Getinge AB, Class B | 1,603 | 62,943 | ||||||
H & M Hennes & Mauritz AB, Class B | 5,512 | 93,710 | ||||||
Hexagon AB, Class B | 12,800 | 174,610 | ||||||
Husqvarna AB, Class B | 2,237 | 27,126 | ||||||
Industrivarden AB, Class A | 995 | 27,747 | ||||||
Industrivarden AB, Class C | 1,115 | 30,586 | ||||||
Investment AB Latour, Class B | 841 | 23,551 | ||||||
Investor AB, Class A | 3,397 | 75,979 | ||||||
Investor AB, Class B | 12,384 | 254,681 | ||||||
Kinnevik AB, Class B* | 1,656 | 42,654 | ||||||
L E Lundbergforetagen AB, Class B | 404 | 19,725 | ||||||
Lifco AB, Class B | 1,732 | 39,785 | ||||||
Lundin Energy AB | 1,657 | 61,394 | ||||||
Nibe Industrier AB, Class B | 10,436 | 93,898 | ||||||
Sagax AB, Class B | 1,243 | 34,242 | ||||||
Sandvik AB | 7,214 | 158,142 | ||||||
Securitas AB, Class B | 1,373 | 16,722 | ||||||
Sinch AB, 144A* | 3,390 | 29,151 | ||||||
Skandinaviska Enskilda Banken AB, Class A | 9,708 | 112,836 | ||||||
Skanska AB, Class B | 1,833 | 41,852 | ||||||
SKF AB, Class B | 2,107 | 39,246 | ||||||
Svenska Cellulosa AB SCA, Class B | 3,826 | 63,036 | ||||||
Svenska Handelsbanken AB, Class A | 9,153 | 88,056 | ||||||
Swedbank AB, Class A | 6,204 | 100,913 | ||||||
Swedish Match AB | 11,139 | 81,835 | ||||||
Tele2 AB, Class B | 3,605 | 48,031 | ||||||
Telefonaktiebolaget LM Ericsson, Class B | 20,310 | 189,151 | ||||||
Telia Co. AB | 16,753 | 62,685 | ||||||
Volvo AB, Class A | 1,098 | 21,604 | ||||||
Volvo AB, Class B | 9,305 | 181,186 | ||||||
|
| |||||||
(Cost $3,702,254) | 3,517,947 | |||||||
|
| |||||||
Switzerland — 3.5% | ||||||||
ABB Ltd. | 10,899 | 370,052 | ||||||
Adecco Group AG | 933 | 44,278 | ||||||
Alcon, Inc. | 3,514 | 272,249 |
Number | Value | |||||||
Switzerland (Continued) | ||||||||
Bachem Holding AG | 41 | $ | 24,400 | |||||
Baloise Holding AG | 299 | 50,222 | ||||||
Barry Callebaut AG | 29 | 67,012 | ||||||
Chocoladefabriken Lindt & Spruengli AG | 1 | 112,813 | ||||||
Chocoladefabriken Lindt & Spruengli AG Participation Certificates | 8 | 85,236 | ||||||
Chubb Ltd. | 2,892 | 588,927 | ||||||
Cie Financiere Richemont SA | 3,527 | 480,928 | ||||||
Clariant AG* | 1,090 | 19,704 | ||||||
Coca-Cola HBC AG* | 1,024 | 26,160 | ||||||
Credit Suisse Group AG | 17,372 | 146,861 | ||||||
EMS-Chemie Holding AG | 46 | 45,551 | ||||||
Garmin Ltd. | 1,125 | 124,245 | ||||||
Geberit AG | 228 | 149,457 | ||||||
Givaudan SA | 62 | 260,245 | ||||||
Glencore PLC* | 68,531 | 406,564 | ||||||
Holcim Ltd.* | 3,174 | 159,452 | ||||||
Julius Baer Group Ltd. | 1,312 | 76,937 | ||||||
Kuehne + Nagel International AG | 394 | 107,964 | ||||||
Logitech International SA | 1,101 | 82,684 | ||||||
Lonza Group AG | 484 | 336,260 | ||||||
Nestle SA | 18,958 | 2,475,110 | ||||||
Novartis AG | 14,698 | 1,287,086 | ||||||
Partners Group Holding AG | 162 | 220,102 | ||||||
Roche Holding AG | 4,697 | 1,791,101 | ||||||
Roche Holding AG | 228 | 95,529 | ||||||
Schindler Holding AG | 57 | 12,861 | ||||||
Schindler Holding AG Participation Certificates | 273 | 62,935 | ||||||
SGS SA | 41 | 117,756 | ||||||
Sika AG | 988 | 329,531 | ||||||
Sonova Holding AG | 386 | 150,201 | ||||||
STMicroelectronics NV | 4,526 | 192,872 | ||||||
Straumann Holding AG | 71 | 112,948 | ||||||
Swatch Group AG — Bearer | 188 | 58,421 | ||||||
Swatch Group AG — Registered | 494 | 29,507 | ||||||
Swiss Life Holding AG | 193 | 117,889 | ||||||
Swiss Prime Site AG | 470 | 46,183 | ||||||
Swiss Re AG | 2,019 | 193,262 | ||||||
Swisscom AG | 190 | 114,027 | ||||||
Temenos AG | 393 | 39,675 | ||||||
UBS Group AG | 24,428 | 449,580 | ||||||
VAT Group AG, 144A | 177 | 67,215 | ||||||
Vifor Pharma AG | 264 | 46,372 | ||||||
Zurich Insurance Group AG | 964 | 442,991 | ||||||
|
| |||||||
(Cost $11,218,676) | 12,491,355 | |||||||
|
| |||||||
United Kingdom — 4.8% | ||||||||
3i Group PLC | 5,981 | 107,174 | ||||||
abrdn PLC | 11,210 | 31,090 | ||||||
Admiral Group PLC | 1,380 | 55,123 | ||||||
Amcor PLC | 10,957 | 127,430 | ||||||
Anglo American PLC | 8,429 | 432,367 | ||||||
Ashtead Group PLC | 3,145 | 205,758 | ||||||
Associated British Foods PLC | 2,734 | 70,432 | ||||||
AstraZeneca PLC | 10,416 | 1,266,056 | ||||||
Auto Trader Group PLC, 144A | 6,823 | 60,696 | ||||||
AVEVA Group PLC | 662 | 22,117 |
See Notes to Financial Statements. | 26 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
United Kingdom (Continued) | ||||||||
Aviva PLC | 24,437 | $ | 137,646 | |||||
BAE Systems PLC | 23,536 | 227,246 | ||||||
Barclays PLC | 119,870 | 294,136 | ||||||
Barratt Developments PLC | 6,318 | 51,796 | ||||||
Berkeley Group Holdings PLC | 760 | 39,729 | ||||||
BP PLC | 129,952 | 633,897 | ||||||
British American Tobacco PLC | 14,465 | 633,006 | ||||||
British Land Co. PLC REIT | 6,041 | 42,927 | ||||||
BT Group PLC | 64,470 | 161,111 | ||||||
Bunzl PLC | 2,555 | 101,782 | ||||||
Burberry Group PLC | 2,375 | 61,821 | ||||||
Clarivate PLC* | 2,358 | 35,323 | ||||||
CNH Industrial NV | 6,325 | 91,112 | ||||||
Coca-Cola Europacific Partners PLC | 1,303 | 66,727 | ||||||
Compass Group PLC | 11,666 | 265,159 | ||||||
Croda International PLC | 942 | 94,592 | ||||||
Diageo PLC | 15,866 | 792,986 | ||||||
Entain PLC* | 4,011 | 90,629 | ||||||
Ferguson PLC | 1,476 | 226,065 | ||||||
GlaxoSmithKline PLC | 33,696 | 698,700 | ||||||
Halma PLC | 2,378 | 76,927 | ||||||
Hargreaves Lansdown PLC | 2,264 | 34,463 | ||||||
HSBC Holdings PLC | 134,906 | 931,478 | ||||||
Imperial Brands PLC | 7,113 | 156,424 | ||||||
Informa PLC* | 8,586 | 68,476 | ||||||
InterContinental Hotels Group PLC* | 1,297 | 91,119 | ||||||
Intertek Group PLC | 813 | 58,731 | ||||||
J Sainsbury PLC | 12,019 | 44,461 | ||||||
JD Sports Fashion PLC | 21,182 | 42,916 | ||||||
Johnson Matthey PLC | 1,567 | 39,590 | ||||||
Kingfisher PLC | 11,474 | 47,140 | ||||||
Land Securities Group PLC REIT | 3,379 | 36,007 | ||||||
Legal & General Group PLC | 38,078 | 141,625 | ||||||
Liberty Global PLC, Class A* | 1,756 | 45,270 | ||||||
Liberty Global PLC, Class C* | 1,851 | 47,885 | ||||||
Linde PLC | 3,454 | 1,012,851 | ||||||
Lloyds Banking Group PLC | 488,562 | 317,505 | ||||||
London Stock Exchange Group PLC | 2,075 | 183,029 | ||||||
M&G PLC | 18,684 | 51,593 | ||||||
Melrose Industries PLC | 28,579 | 56,848 | ||||||
Mondi PLC | 3,653 | 77,026 | ||||||
National Grid PLC | 24,952 | 378,585 | ||||||
NatWest Group PLC | 42,135 | 129,860 | ||||||
Next PLC | 698 | 64,265 | ||||||
Ocado Group PLC* | 3,339 | 61,512 | ||||||
Pearson PLC | 5,307 | 46,142 | ||||||
Pentair PLC | 1,106 | 64,048 | ||||||
Persimmon PLC | 2,106 | 68,185 | ||||||
Phoenix Group Holdings PLC | 3,070 | 25,481 | ||||||
Prudential PLC | 17,396 | 265,271 | ||||||
Reckitt Benckiser Group PLC | 4,822 | 408,964 | ||||||
RELX PLC | 12,664 | 387,586 | ||||||
Rentokil Initial PLC | 13,981 | 95,258 | ||||||
Rio Tinto PLC | 7,802 | 606,221 | ||||||
Rolls-Royce Holdings PLC* | 57,818 | 80,293 | ||||||
Sage Group PLC | 6,051 | 57,060 | ||||||
Schroders PLC | 533 | 21,912 |
Number | Value | |||||||
United Kingdom (Continued) | ||||||||
Segro PLC REIT | 8,073 | $ | 140,978 | |||||
Severn Trent PLC | 1,836 | 70,849 | ||||||
Shell PLC | 52,541 | 1,390,199 | ||||||
Smith & Nephew PLC | 6,550 | 117,502 | ||||||
Smiths Group PLC | 2,984 | 61,218 | ||||||
Spirax-Sarco Engineering PLC | 426 | 68,276 | ||||||
SSE PLC | 6,649 | 152,064 | ||||||
St James’s Place PLC | 3,660 | 68,923 | ||||||
Standard Chartered PLC | 16,237 | 116,076 | ||||||
Taylor Wimpey PLC | 21,521 | 43,386 | ||||||
Tesco PLC | 53,967 | 209,809 | ||||||
Unilever PLC | 17,566 | 883,020 | ||||||
United Utilities Group PLC | 4,325 | 62,354 | ||||||
Vodafone Group PLC | 193,523 | 341,297 | ||||||
Whitbread PLC* | 1,378 | 54,063 | ||||||
Willis Towers Watson PLC | 824 | 183,175 | ||||||
WPP PLC | 8,211 | 116,506 | ||||||
|
| |||||||
(Cost $15,151,147) | 17,526,335 | |||||||
|
| |||||||
United States — 71.2% | ||||||||
10X Genomics, Inc., Class A* (b) | 398 | 32,425 | ||||||
3M Co. | 3,942 | 585,978 | ||||||
A O Smith Corp. | 589 | 40,394 | ||||||
Abbott Laboratories | 11,938 | 1,439,962 | ||||||
AbbVie, Inc. | 11,839 | 1,749,449 | ||||||
ABIOMED, Inc.* | 292 | 90,736 | ||||||
Activision Blizzard, Inc. | 5,238 | 426,897 | ||||||
Adobe, Inc.* | 3,204 | 1,498,447 | ||||||
Advance Auto Parts, Inc. | 481 | 98,355 | ||||||
Advanced Micro Devices, Inc.* | 11,142 | 1,374,254 | ||||||
AES Corp. | 4,593 | 97,509 | ||||||
Affirm Holdings, Inc.* (b) | 594 | 24,853 | ||||||
Aflac, Inc. | 4,469 | 273,011 | ||||||
Agilent Technologies, Inc. | 1,893 | 246,771 | ||||||
AGNC Investment Corp. REIT | 3,993 | 51,550 | ||||||
Air Products and Chemicals, Inc. | 1,477 | 349,015 | ||||||
Airbnb, Inc., Class A* | 1,989 | 301,314 | ||||||
Akamai Technologies, Inc.* | 970 | 105,012 | ||||||
Albemarle Corp. | 828 | 162,197 | ||||||
Alexandria Real Estate Equities, Inc. REIT | 928 | 175,763 | ||||||
Align Technology, Inc.* | 490 | 250,615 | ||||||
Alleghany Corp.* | 78 | 51,630 | ||||||
Alliant Energy Corp. | 1,730 | 101,032 | ||||||
Allstate Corp. | 2,092 | 255,977 | ||||||
Ally Financial, Inc. | 2,109 | 105,239 | ||||||
Alnylam Pharmaceuticals, Inc.* | 736 | 116,178 | ||||||
Alphabet, Inc., Class A* | 2,016 | 5,445,498 | ||||||
Alphabet, Inc., Class C* | 1,929 | 5,204,095 | ||||||
Altria Group, Inc. | 12,203 | 625,892 | ||||||
Amazon.com, Inc.* | 3,064 | 9,410,341 | ||||||
AMC Entertainment Holdings, Inc., | 3,388 | 63,898 | ||||||
AMERCO | 63 | 36,389 | ||||||
Ameren Corp. | 1,813 | 155,827 | ||||||
American Electric Power Co., Inc. | 3,250 | 294,612 | ||||||
American Express Co. | 4,440 | 863,758 | ||||||
American Financial Group, Inc. | 490 | 66,341 | ||||||
American International Group, Inc. | 5,760 | 352,742 |
See Notes to Financial Statements. | 27 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
United States (Continued) | ||||||||
American Tower Corp. REIT | 3,099 | $ | 703,070 | |||||
American Water Works Co., Inc. | 1,278 | 193,093 | ||||||
Ameriprise Financial, Inc. | 749 | 224,543 | ||||||
AmerisourceBergen Corp. | 1,021 | 145,523 | ||||||
AMETEK, Inc. | 1,682 | 218,307 | ||||||
Amgen, Inc. | 3,810 | 862,889 | ||||||
Amphenol Corp., Class A | 4,135 | 314,301 | ||||||
Analog Devices, Inc. | 3,644 | 584,097 | ||||||
Annaly Capital Management, Inc. REIT | 9,789 | 68,131 | ||||||
ANSYS, Inc.* | 570 | 184,788 | ||||||
Anthem, Inc. | 1,600 | 722,960 | ||||||
Aon PLC, Class A | 1,555 | 454,278 | ||||||
Apollo Global Management, Inc. | 2,291 | 149,511 | ||||||
Apple, Inc. | 110,058 | 18,172,777 | ||||||
Applied Materials, Inc. | 5,998 | 804,932 | ||||||
Aramark | 1,458 | 53,888 | ||||||
Archer-Daniels-Midland Co. | 3,709 | 290,971 | ||||||
Arista Networks, Inc.* | 1,522 | 186,795 | ||||||
Arrow Electronics, Inc.* | 582 | 70,934 | ||||||
Arthur J Gallagher & Co. | 1,393 | 220,359 | ||||||
Asana, Inc., Class A* (b) | 449 | 24,601 | ||||||
Assurant, Inc. | 391 | 66,357 | ||||||
AT&T, Inc. | 47,905 | 1,134,869 | ||||||
Atmos Energy Corp. | 1,050 | 115,300 | ||||||
Autodesk, Inc.* | 1,423 | 313,387 | ||||||
Automatic Data Processing, Inc. | 2,800 | 572,432 | ||||||
AutoZone, Inc.* | 144 | 268,328 | ||||||
Avalara, Inc.* | 593 | 61,619 | ||||||
AvalonBay Communities, Inc. REIT | 913 | 217,833 | ||||||
Avantor, Inc.* | 3,315 | 114,997 | ||||||
Avery Dennison Corp. | 601 | 105,896 | ||||||
Baker Hughes Co. | 5,199 | 152,747 | ||||||
Ball Corp. | 2,379 | 213,491 | ||||||
Bank of America Corp. | 49,504 | 2,188,077 | ||||||
Bank of New York Mellon Corp. | 5,161 | 274,307 | ||||||
Bath & Body Works, Inc. | 1,916 | 102,257 | ||||||
Bausch Health Cos., Inc.* | 2,380 | 57,213 | ||||||
Baxter International, Inc. | 3,346 | 284,310 | ||||||
Becton Dickinson and Co. | 1,900 | 515,432 | ||||||
Bentley Systems, Inc., Class B | 1,204 | 46,222 | ||||||
Berkshire Hathaway, Inc., Class B* | 8,735 | 2,807,866 | ||||||
Best Buy Co., Inc. | 1,550 | 149,792 | ||||||
Bill.com Holdings, Inc.* | 503 | 119,654 | ||||||
Biogen, Inc.* | 1,015 | 214,175 | ||||||
BioMarin Pharmaceutical, Inc.* | 1,083 | 84,604 | ||||||
Bio-Rad Laboratories, Inc., Class A* | 131 | 82,001 | ||||||
Bio-Techne Corp. | 244 | 102,336 | ||||||
Black Knight, Inc.* | 846 | 47,537 | ||||||
BlackRock, Inc. | 1,015 | 755,048 | ||||||
Blackstone, Inc. | 4,495 | 572,978 | ||||||
Block, Inc.* | 2,816 | 359,040 | ||||||
Block, Inc. CDI* | 572 | 64,461 | ||||||
Boeing Co.* | 3,718 | 763,454 | ||||||
Booking Holdings, Inc.* | 277 | 601,713 | ||||||
Booz Allen Hamilton Holding Corp. | 1,033 | 83,353 | ||||||
BorgWarner, Inc. | 1,366 | 56,020 | ||||||
Boston Properties, Inc. REIT | 932 | 113,993 |
Number | Value | |||||||
United States (Continued) | ||||||||
Boston Scientific Corp.* | 9,683 | $ | 427,698 | |||||
Bristol-Myers Squibb Co. | 15,082 | 1,035,681 | ||||||
Broadcom, Inc. | 2,737 | 1,607,823 | ||||||
Broadridge Financial Solutions, Inc. | 747 | 109,219 | ||||||
Brookfield Renewable Corp., Class A | 567 | 21,234 | ||||||
Brown & Brown, Inc. | 1,712 | 115,748 | ||||||
Brown-Forman Corp., Class B | 1,831 | 119,436 | ||||||
Bunge Ltd. | 1,025 | 107,164 | ||||||
Burlington Stores, Inc.* | 391 | 88,323 | ||||||
C.H. Robinson Worldwide, Inc. | 837 | 80,921 | ||||||
Cable One, Inc. | 36 | 51,583 | ||||||
Cadence Design Systems, Inc.* | 1,940 | 293,774 | ||||||
Caesars Entertainment, Inc.* | 1,393 | 117,277 | ||||||
Camden Property Trust REIT | 658 | 108,642 | ||||||
Campbell Soup Co. | 810 | 36,426 | ||||||
Capital One Financial Corp. | 2,985 | 457,511 | ||||||
Cardinal Health, Inc. | 2,191 | 118,336 | ||||||
Carlyle Group, Inc. | 1,241 | 58,166 | ||||||
CarMax, Inc.* | 1,029 | 112,501 | ||||||
Carnival Corp.* | 5,494 | 111,693 | ||||||
Carrier Global Corp. | 5,284 | 237,146 | ||||||
Carvana Co.* | 487 | 73,279 | ||||||
Catalent, Inc.* | 1,032 | 105,305 | ||||||
Caterpillar, Inc. | 3,679 | 690,107 | ||||||
Cboe Global Markets, Inc. | 745 | 87,381 | ||||||
CBRE Group, Inc., Class A* | 2,362 | 228,760 | ||||||
CDW Corp. | 886 | 152,800 | ||||||
Celanese Corp. | 722 | 100,560 | ||||||
Centene Corp.* | 3,784 | 312,634 | ||||||
CenterPoint Energy, Inc. | 3,708 | 101,414 | ||||||
Ceridian HCM Holding, Inc.* | 850 | 61,973 | ||||||
Cerner Corp. | 1,919 | 178,947 | ||||||
CF Industries Holdings, Inc. | 1,371 | 111,311 | ||||||
Charles River Laboratories International, Inc.* | 315 | 91,715 | ||||||
Charles Schwab Corp. | 9,543 | 806,002 | ||||||
Charter Communications, Inc., Class A* | 865 | 520,540 | ||||||
Cheniere Energy, Inc. | 1,717 | 228,189 | ||||||
Chevron Corp. | 12,905 | 1,858,320 | ||||||
Chewy, Inc., Class A* (b) | 472 | 22,250 | ||||||
Chipotle Mexican Grill, Inc.* | 192 | 292,483 | ||||||
Church & Dwight Co., Inc. | 1,525 | 149,221 | ||||||
Cigna Corp. | 2,287 | 543,803 | ||||||
Cincinnati Financial Corp. | 873 | 107,196 | ||||||
Cintas Corp. | 608 | 228,195 | ||||||
Cisco Systems, Inc. | 28,380 | 1,582,753 | ||||||
Citigroup, Inc. | 13,232 | 783,731 | ||||||
Citizens Financial Group, Inc. | 2,633 | 138,022 | ||||||
Citrix Systems, Inc. | 921 | 94,402 | ||||||
Clorox Co. | 915 | 133,398 | ||||||
Cloudflare, Inc., Class A* | 1,588 | 184,875 | ||||||
CME Group, Inc. | 2,413 | 570,747 | ||||||
CMS Energy Corp. | 2,007 | 128,468 | ||||||
Coca-Cola Co. | 27,503 | 1,711,787 | ||||||
Cognex Corp. | 993 | 67,087 | ||||||
Cognizant Technology Solutions Corp., Class A | 3,655 | 314,805 |
See Notes to Financial Statements. | 28 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
United States (Continued) | ||||||||
Coinbase Global, Inc., Class A* | 258 | $ | 49,219 | |||||
Colgate-Palmolive Co. | 5,235 | 402,833 | ||||||
Comcast Corp., Class A | 30,829 | 1,441,564 | ||||||
Conagra Brands, Inc. | 2,703 | 94,524 | ||||||
ConocoPhillips | 9,024 | 856,017 | ||||||
Consolidated Edison, Inc. | 2,539 | 217,770 | ||||||
Constellation Brands, Inc., Class A | 1,079 | 232,654 | ||||||
Constellation Energy Corp. | 2,245 | 103,225 | ||||||
Cooper Cos., Inc. | 360 | 147,247 | ||||||
Copart, Inc.* | 1,410 | 173,261 | ||||||
Corning, Inc. | 5,502 | 222,281 | ||||||
Corteva, Inc. | 4,633 | 241,055 | ||||||
CoStar Group, Inc.* | 2,781 | 169,669 | ||||||
Costco Wholesale Corp. | 2,958 | 1,535,941 | ||||||
Coterra Energy, Inc. | 5,040 | 117,583 | ||||||
Coupa Software, Inc.* | 474 | 57,359 | ||||||
Crowdstrike Holdings, Inc., Class A* | 1,287 | 251,235 | ||||||
Crown Castle International Corp. REIT | 2,892 | 481,778 | ||||||
Crown Holdings, Inc. | 876 | 107,459 | ||||||
CSX Corp. | 15,068 | 510,956 | ||||||
Cummins, Inc. | 913 | 186,362 | ||||||
CVS Health Corp. | 8,794 | 911,498 | ||||||
D.R. Horton, Inc. | 2,272 | 194,029 | ||||||
Danaher Corp. | 4,335 | 1,189,567 | ||||||
Darden Restaurants, Inc. | 836 | 121,404 | ||||||
Datadog, Inc., Class A* | 1,467 | 236,348 | ||||||
DaVita, Inc.* | 433 | 48,829 | ||||||
Deere & Co. | 2,009 | 723,280 | ||||||
Dell Technologies, Inc., Class C* | 1,690 | 86,122 | ||||||
Delta Air Lines, Inc.* | 606 | 24,191 | ||||||
DENTSPLY SIRONA, Inc. | 1,408 | 76,229 | ||||||
Devon Energy Corp. | 4,151 | 247,192 | ||||||
Dexcom, Inc.* | 669 | 276,906 | ||||||
Diamondback Energy, Inc. | 1,182 | 163,234 | ||||||
Digital Realty Trust, Inc. REIT | 2,007 | 270,784 | ||||||
Discover Financial Services | 2,105 | 259,841 | ||||||
Discovery, Inc., Class A* | 1,239 | 34,754 | ||||||
Discovery, Inc., Class C* | 1,882 | 52,640 | ||||||
DISH Network Corp., Class A* | 1,734 | 55,419 | ||||||
DocuSign, Inc.* | 1,299 | 153,841 | ||||||
Dollar General Corp. | 1,621 | 321,509 | ||||||
Dollar Tree, Inc.* | 1,552 | 220,508 | ||||||
Dominion Energy, Inc. | 5,628 | 447,595 | ||||||
Domino’s Pizza, Inc. | 236 | 102,002 | ||||||
DoorDash, Inc., Class A* | 730 | 76,613 | ||||||
Dover Corp. | 1,006 | 157,801 | ||||||
Dow, Inc. | 4,831 | 284,836 | ||||||
DraftKings, Inc., Class A*(b) | 2,175 | 51,504 | ||||||
Dropbox, Inc., Class A* | 1,730 | 39,254 | ||||||
DTE Energy Co. | 1,372 | 166,821 | ||||||
Duke Energy Corp. | 5,223 | 524,441 | ||||||
Duke Realty Corp. REIT | 2,819 | 149,407 | ||||||
DuPont de Nemours, Inc. | 3,439 | 266,075 | ||||||
Dynatrace, Inc.* | 1,458 | 64,764 | ||||||
Eastman Chemical Co. | 938 | 111,125 | ||||||
Eaton Corp. PLC | 2,559 | 394,828 | ||||||
eBay, Inc. | 4,529 | 247,238 | ||||||
Ecolab, Inc. | 1,734 | 305,635 |
Number | Value | |||||||
United States (Continued) | ||||||||
Edison International | 2,555 | $ | 162,038 | |||||
Edwards Lifesciences Corp.* | 4,306 | 483,865 | ||||||
Elanco Animal Health, Inc.* | 2,638 | 74,946 | ||||||
Electronic Arts, Inc. | 1,914 | 248,992 | ||||||
Eli Lilly & Co. | 5,498 | 1,374,225 | ||||||
Emerson Electric Co. | 3,935 | 365,640 | ||||||
Enphase Energy, Inc.* | 916 | 152,697 | ||||||
Entegris, Inc. | 864 | 112,735 | ||||||
Entergy Corp. | 1,366 | 143,717 | ||||||
EOG Resources, Inc. | 4,043 | 464,622 | ||||||
EPAM Systems, Inc.* | 385 | 79,984 | ||||||
Equifax, Inc. | 798 | 174,235 | ||||||
Equinix, Inc. REIT | 587 | 416,611 | ||||||
Equitable Holdings, Inc. | 2,642 | 86,288 | ||||||
Equity LifeStyle Properties, Inc. REIT | 1,284 | 95,812 | ||||||
Equity Residential REIT | 2,389 | 203,782 | ||||||
Erie Indemnity Co., Class A | 119 | 20,837 | ||||||
Essential Utilities, Inc. | 1,458 | 68,686 | ||||||
Essex Property Trust, Inc. REIT | 455 | 144,312 | ||||||
Estee Lauder Cos., Inc., Class A | 1,548 | 458,719 | ||||||
Etsy, Inc.* | 826 | 127,939 | ||||||
Evergy, Inc. | 1,320 | 82,381 | ||||||
Eversource Energy | 2,195 | 179,551 | ||||||
Exact Sciences Corp.* | 1,118 | 87,271 | ||||||
Exelon Corp. | 6,736 | 286,684 | ||||||
Expedia Group, Inc.* | 926 | 181,598 | ||||||
Expeditors International of Washington, Inc. | 1,092 | 112,869 | ||||||
Extra Space Storage, Inc. REIT | 865 | 162,750 | ||||||
Exxon Mobil Corp. | 28,466 | 2,232,304 | ||||||
F5, Inc.* | 388 | 77,930 | ||||||
FactSet Research Systems, Inc. | 291 | 118,172 | ||||||
Fair Isaac Corp.* | 192 | 90,468 | ||||||
Fastenal Co. | 3,625 | 186,542 | ||||||
FedEx Corp. | 1,748 | 388,528 | ||||||
Fidelity National Financial, Inc. | 1,614 | 76,891 | ||||||
Fidelity National Information Services, Inc. | 4,146 | 394,824 | ||||||
Fifth Third Bancorp | 4,930 | 235,851 | ||||||
First Citizens BancShares, Inc., Class A | 79 | 62,288 | ||||||
First Republic Bank | 1,211 | 209,818 | ||||||
FirstEnergy Corp. | 3,882 | 162,462 | ||||||
Fiserv, Inc.* | 4,065 | 397,029 | ||||||
FleetCor Technologies, Inc.* | 581 | 136,070 | ||||||
FMC Corp. | 1,025 | 120,181 | ||||||
Ford Motor Co. | 26,773 | 470,134 | ||||||
Fortinet, Inc.* | 942 | 324,538 | ||||||
Fortive Corp. | 2,410 | 156,047 | ||||||
Fortune Brands Home & Security, Inc. | 939 | 81,599 | ||||||
Fox Corp., Class A | 1,830 | 76,549 | ||||||
Fox Corp., Class B | 624 | 23,874 | ||||||
Franklin Resources, Inc. | 2,099 | 62,403 | ||||||
Freeport-McMoRan, Inc. | 9,977 | 468,420 | ||||||
Gartner, Inc.* | 540 | 151,427 | ||||||
Generac Holdings, Inc.* | 399 | 125,873 | ||||||
General Dynamics Corp. | 1,555 | 364,570 | ||||||
General Electric Co. | 7,347 | 701,712 |
See Notes to Financial Statements. | 29 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
United States (Continued) | ||||||||
General Mills, Inc. | 4,309 | $ | 290,556 | |||||
General Motors Co.* | 8,568 | 400,297 | ||||||
Genuine Parts Co. | 1,032 | 126,069 | ||||||
Gilead Sciences, Inc. | 8,351 | 504,400 | ||||||
Global Payments, Inc. | 2,010 | 268,094 | ||||||
Globe Life, Inc. | 675 | 68,148 | ||||||
GoDaddy, Inc., Class A* | 1,284 | 107,098 | ||||||
Goldman Sachs Group, Inc. | 2,217 | 756,640 | ||||||
Guidewire Software, Inc.* | 563 | 49,628 | ||||||
Halliburton Co. | 5,976 | 200,375 | ||||||
Hartford Financial Services Group, Inc. | 2,150 | 149,382 | ||||||
Hasbro, Inc. | 842 | 81,716 | ||||||
HCA Healthcare, Inc. | 1,773 | 443,800 | ||||||
Healthpeak Properties, Inc. REIT | 3,846 | 119,457 | ||||||
HEICO Corp. (b) | 217 | 32,010 | ||||||
HEICO Corp., Class A | 557 | 68,466 | ||||||
Henry Schein, Inc. * | 841 | 72,646 | ||||||
Hershey Co. | 1,025 | 207,316 | ||||||
Hess Corp. | 1,824 | 184,333 | ||||||
Hewlett Packard Enterprise Co. | 9,551 | 152,052 | ||||||
Hilton Worldwide Holdings, Inc.* | 1,805 | 268,692 | ||||||
Hologic, Inc.* | 1,806 | 128,533 | ||||||
Home Depot, Inc. | 7,011 | 2,214,284 | ||||||
Honeywell International, Inc. | 4,678 | 887,650 | ||||||
Horizon Therapeutics PLC* | 1,440 | 131,285 | ||||||
Hormel Foods Corp. | 2,095 | 99,806 | ||||||
Host Hotels & Resorts, Inc. REIT* | 5,598 | 102,275 | ||||||
Howmet Aerospace, Inc. | 2,708 | 97,271 | ||||||
HP, Inc. | 7,862 | 270,138 | ||||||
HubSpot, Inc.* | 292 | 153,300 | ||||||
Humana, Inc. | 897 | 389,585 | ||||||
Huntington Bancshares, Inc. | 10,046 | 155,914 | ||||||
Huntington Ingalls Industries, Inc. | 292 | 59,685 | ||||||
IAC/InterActiveCorp* | 559 | 64,151 | ||||||
IDEX Corp. | 576 | 110,534 | ||||||
IDEXX Laboratories, Inc.* | 576 | 306,634 | ||||||
Illinois Tool Works, Inc. | 2,158 | 466,862 | ||||||
Illumina, Inc.* | 1,028 | 335,745 | ||||||
Incyte Corp.* | 1,277 | 87,219 | ||||||
Ingersoll Rand, Inc. | 2,728 | 137,819 | ||||||
Insulet Corp.* | 480 | 127,051 | ||||||
Intel Corp. | 26,962 | 1,286,087 | ||||||
Intercontinental Exchange, Inc. | 3,708 | 475,069 | ||||||
International Business Machines Corp. | 6,075 | 744,248 | ||||||
International Flavors & Fragrances, Inc. | 1,685 | 224,105 | ||||||
International Paper Co. | 2,462 | 107,171 | ||||||
Interpublic Group of Cos., Inc. | 3,016 | 110,989 | ||||||
Intuit, Inc. | 1,823 | 864,776 | ||||||
Intuitive Surgical, Inc.* | 2,371 | 688,372 | ||||||
Invesco Ltd. | 2,734 | 58,070 | ||||||
Invitation Homes, Inc. REIT | 4,135 | 156,303 | ||||||
IPG Photonics Corp.* | 274 | 35,716 | ||||||
IQVIA Holdings, Inc.* | 1,294 | 297,775 | ||||||
Iron Mountain, Inc. REIT | 1,702 | 83,704 | ||||||
J M Smucker Co. | 842 | 113,459 | ||||||
Jack Henry & Associates, Inc. | 438 | 77,438 | ||||||
Jacobs Engineering Group, Inc. | 930 | 114,390 |
Number | Value | |||||||
United States (Continued) | ||||||||
JB Hunt Transport Services, Inc. | 543 | $ | 110,191 | |||||
Johnson & Johnson | 17,621 | 2,899,888 | ||||||
Johnson Controls International PLC | 4,863 | 315,900 | ||||||
JPMorgan Chase & Co. | 19,849 | 2,814,588 | ||||||
Juniper Networks, Inc. | 1,832 | 61,903 | ||||||
Kellogg Co. | 1,563 | 99,938 | ||||||
Keurig Dr Pepper, Inc. | 4,971 | 192,229 | ||||||
KeyCorp | 6,786 | 170,125 | ||||||
Keysight Technologies, Inc.* | 1,303 | 205,053 | ||||||
Kimberly-Clark Corp. | 2,285 | 297,393 | ||||||
Kimco Realty Corp. REIT | 4,536 | 106,732 | ||||||
Kinder Morgan, Inc. | 13,953 | 242,782 | ||||||
KKR & Co., Inc. | 3,606 | 216,793 | ||||||
KLA Corp. | 1,028 | 358,258 | ||||||
Knight-Swift Transportation Holdings, Inc. | 1,030 | 56,114 | ||||||
Kraft Heinz Co. | 4,284 | 168,018 | ||||||
Kroger Co. | 4,870 | 227,916 | ||||||
L3Harris Technologies, Inc. | 1,370 | 345,665 | ||||||
Laboratory Corp. of America Holdings* | 669 | 181,473 | ||||||
Lam Research Corp. | 964 | 541,141 | ||||||
Las Vegas Sands Corp.* | 2,464 | 105,607 | ||||||
Lear Corp. | 385 | 60,576 | ||||||
Leidos Holdings, Inc. | 746 | 75,973 | ||||||
Lennar Corp., Class A | 1,829 | 164,390 | ||||||
Lennox International, Inc. | 207 | 55,254 | ||||||
Liberty Broadband Corp., Class A* | 135 | 19,549 | ||||||
Liberty Broadband Corp., Class C* | 965 | 141,565 | ||||||
Liberty Media Corp.-Liberty Formula One, Class C* | 1,454 | 88,301 | ||||||
Liberty Media Corp-Liberty SiriusXM, Class A* | 575 | 28,957 | ||||||
Liberty Media Corp-Liberty SiriusXM, Class C* | 1,208 | 60,787 | ||||||
Lincoln National Corp. | 1,294 | 87,241 | ||||||
Live Nation Entertainment, Inc.* | 1,122 | 135,560 | ||||||
LKQ Corp. | 2,009 | 94,323 | ||||||
Lockheed Martin Corp. | 1,661 | 720,542 | ||||||
Loews Corp. | 1,644 | 100,843 | ||||||
Lowe’s Cos., Inc. | 4,586 | 1,013,781 | ||||||
Lucid Group, Inc.* (b) | 2,700 | 78,246 | ||||||
Lumen Technologies, Inc. (b) | 5,406 | 56,006 | ||||||
Lyft, Inc., Class A* | 1,816 | 70,715 | ||||||
LyondellBasell Industries NV, Class A | 1,862 | 181,042 | ||||||
M&T Bank Corp. | 838 | 152,709 | ||||||
Marathon Petroleum Corp. | 4,322 | 336,554 | ||||||
Markel Corp.* | 82 | 101,919 | ||||||
MarketAxess Holdings, Inc. | 288 | 109,852 | ||||||
Marriott International, Inc., Class A* | 1,750 | 297,745 | ||||||
Marsh & McLennan Cos., Inc. | 3,308 | 514,096 | ||||||
Martin Marietta Materials, Inc. | 454 | 172,248 | ||||||
Marvell Technology, Inc. | 5,489 | 375,063 | ||||||
Masco Corp. | 1,516 | 84,957 | ||||||
Masimo Corp.* | 364 | 57,312 | ||||||
Mastercard, Inc., Class A | 5,921 | 2,136,415 | ||||||
Match Group, Inc.* | 1,833 | 204,361 | ||||||
McCormick & Co., Inc. | 1,513 | 143,992 |
See Notes to Financial Statements. | 30 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
United States (Continued) | ||||||||
McDonald’s Corp. | 5,027 | $ | 1,230,459 | |||||
McKesson Corp. | 1,001 | 275,235 | ||||||
Medical Properties Trust, Inc. REIT | 4,054 | 82,458 | ||||||
Merck & Co., Inc. | 16,777 | 1,284,783 | ||||||
Meta Platforms, Inc., Class A* | 15,954 | 3,366,773 | ||||||
MetLife, Inc. | 5,135 | 346,869 | ||||||
Mettler-Toledo International, Inc.* | 162 | 228,216 | ||||||
MGM Resorts International | 2,435 | 107,846 | ||||||
Microchip Technology, Inc. | 3,556 | 250,093 | ||||||
Micron Technology, Inc. | 7,631 | 678,091 | ||||||
Microsoft Corp. | 47,849 | 14,296,803 | ||||||
Mid-America Apartment Communities, Inc. REIT | 752 | 153,867 | ||||||
Moderna, Inc.* | 2,285 | 350,976 | ||||||
Mohawk Industries, Inc.* | 399 | 56,171 | ||||||
Molina Healthcare, Inc.* | 398 | 122,134 | ||||||
Molson Coors Beverage Co., Class B | 1,196 | 62,407 | ||||||
Mondelez International, Inc., Class A | 9,425 | 617,149 | ||||||
MongoDB, Inc.* | 399 | 152,414 | ||||||
Monolithic Power Systems, Inc. | 276 | 126,601 | ||||||
Monster Beverage Corp.* | 2,574 | 217,246 | ||||||
Moody’s Corp. | 1,106 | 356,165 | ||||||
Morgan Stanley | 9,184 | 833,356 | ||||||
Mosaic Co. | 2,554 | 133,906 | ||||||
Motorola Solutions, Inc. | 1,118 | 246,441 | ||||||
MSCI, Inc. | 524 | 262,886 | ||||||
Nasdaq, Inc. | 832 | 142,397 | ||||||
NetApp, Inc. | 1,547 | 121,254 | ||||||
Netflix, Inc.* | 2,952 | 1,164,623 | ||||||
Neurocrine Biosciences, Inc.* | 676 | 60,752 | ||||||
Newell Brands, Inc. | 1,946 | 46,217 | ||||||
Newmont Corp. | 5,506 | 364,497 | ||||||
News Corp., Class A | 2,709 | 60,465 | ||||||
NextEra Energy, Inc. | 13,107 | 1,025,885 | ||||||
NIKE, Inc., Class B | 8,540 | 1,166,137 | ||||||
NiSource, Inc. | 1,861 | 53,839 | ||||||
Nordson Corp. | 376 | 85,160 | ||||||
Norfolk Southern Corp. | 1,654 | 424,284 | ||||||
Northern Trust Corp. | 1,429 | 162,763 | ||||||
Northrop Grumman Corp. | 1,028 | 454,520 | ||||||
NortonLifeLock, Inc. | 3,629 | 105,168 | ||||||
Novavax, Inc.* (b) | 495 | 41,268 | ||||||
NRG Energy, Inc. | 1,642 | 62,133 | ||||||
Nuance Communications, Inc.* | 2,038 | 113,150 | ||||||
Nucor Corp. | 1,926 | 253,500 | ||||||
NVIDIA Corp. | 16,709 | 4,074,490 | ||||||
NVR, Inc.* | 22 | 109,086 | ||||||
Occidental Petroleum Corp. | 5,809 | 254,028 | ||||||
Okta, Inc.* | 1,068 | 195,273 | ||||||
Old Dominion Freight Line, Inc. | 672 | 211,028 | ||||||
Omnicom Group, Inc. | 1,368 | 114,761 | ||||||
ON Semiconductor Corp.* | 2,997 | 187,642 | ||||||
ONEOK, Inc. | 2,913 | 190,219 | ||||||
Oracle Corp. | 11,218 | 852,231 | ||||||
O’Reilly Automotive, Inc.* | 445 | 288,912 | ||||||
Otis Worldwide Corp. | 2,744 | 214,938 | ||||||
Owens Corning | 549 | 51,161 |
Number | Value | |||||||
United States (Continued) | ||||||||
PACCAR, Inc. | 2,285 | $ | 209,786 | |||||
Packaging Corp. of America | 577 | 84,929 | ||||||
Palantir Technologies, Inc., Class A* | 11,819 | 140,055 | ||||||
Palo Alto Networks, Inc.* | 668 | 396,959 | ||||||
Paramount Global, Class B | 4,237 | 129,695 | ||||||
Parker-Hannifin Corp. | 876 | 259,638 | ||||||
Paychex, Inc. | 2,190 | 260,741 | ||||||
Paycom Software, Inc.* | 322 | 109,226 | ||||||
PayPal Holdings, Inc.* | 7,510 | 840,594 | ||||||
Peloton Interactive, Inc., Class A* | 1,666 | 48,414 | ||||||
PepsiCo, Inc. | 9,183 | 1,503,624 | ||||||
PerkinElmer, Inc. | 767 | 137,761 | ||||||
Pfizer, Inc. | 37,675 | 1,768,464 | ||||||
PG&E Corp.* (b) | 10,167 | 115,599 | ||||||
Philip Morris International, Inc. | 10,330 | 1,044,053 | ||||||
Phillips 66 | 2,896 | 243,959 | ||||||
Pinterest, Inc., Class A* | 3,552 | 95,016 | ||||||
Pioneer Natural Resources Co. | 1,552 | 371,859 | ||||||
Plug Power, Inc.* (b) | 3,261 | 82,471 | ||||||
PNC Financial Services Group, Inc. | 2,786 | 555,110 | ||||||
Pool Corp. | 280 | 128,402 | ||||||
PPG Industries, Inc. | 1,482 | 197,773 | ||||||
PPL Corp. | 4,561 | 119,361 | ||||||
Principal Financial Group, Inc. | 1,747 | 123,408 | ||||||
Procter & Gamble Co. | 16,182 | 2,522,612 | ||||||
Progressive Corp. | 3,961 | 419,589 | ||||||
Prologis, Inc. REIT | 4,872 | 710,581 | ||||||
Prudential Financial, Inc. | 2,398 | 267,761 | ||||||
PTC, Inc.* | 608 | 67,658 | ||||||
Public Service Enterprise Group, Inc. | 3,234 | 209,660 | ||||||
Public Storage REIT | 1,099 | 390,167 | ||||||
PulteGroup, Inc. | 1,823 | 90,530 | ||||||
Qorvo, Inc.* | 656 | 89,728 | ||||||
QUALCOMM, Inc. | 7,605 | 1,307,984 | ||||||
Quest Diagnostics, Inc. | 848 | 111,317 | ||||||
Raymond James Financial, Inc. | 1,294 | 141,887 | ||||||
Raytheon Technologies Corp. | 10,056 | 1,032,751 | ||||||
Realty Income Corp. REIT | 3,932 | 259,866 | ||||||
Regency Centers Corp. REIT | 1,168 | 76,960 | ||||||
Regeneron Pharmaceuticals, Inc.* | 699 | 432,234 | ||||||
Regions Financial Corp. | 6,786 | 164,153 | ||||||
Republic Services, Inc. | 1,457 | 175,248 | ||||||
ResMed, Inc. | 917 | 226,270 | ||||||
RingCentral, Inc., Class A* | 576 | 75,364 | ||||||
Rivian Automotive, Inc., Class A* (b) | 1,155 | 78,032 | ||||||
Robert Half International, Inc. | 844 | 101,525 | ||||||
Robinhood Markets, Inc., Class A* (b) | 1,559 | 18,724 | ||||||
Rockwell Automation, Inc. | 830 | 221,261 | ||||||
Roku, Inc.* | 765 | 106,740 | ||||||
Rollins, Inc. | 1,479 | 48,260 | ||||||
Roper Technologies, Inc. | 711 | 318,684 | ||||||
Ross Stores, Inc. | 2,461 | 224,911 | ||||||
Royal Caribbean Cruises Ltd.* | 1,549 | 125,035 | ||||||
Royalty Pharma PLC, Class A | 2,262 | 88,806 | ||||||
RPM International, Inc. | 842 | 71,208 | ||||||
S&P Global, Inc. | 2,311 | 868,243 | ||||||
salesforce.com, Inc.* | 6,573 | 1,383,814 |
See Notes to Financial Statements. | 31 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
United States (Continued) | ||||||||
SBA Communications Corp. REIT | 692 | $ | 209,946 | |||||
Schlumberger N.V. | 9,261 | 363,402 | ||||||
Seagate Technology Holdings PLC | 1,276 | 131,632 | ||||||
Seagen, Inc.* | 988 | 127,324 | ||||||
Sealed Air Corp. | 1,106 | 74,246 | ||||||
SEI Investments Co. | 767 | 44,931 | ||||||
Sempra Energy | 2,172 | 313,246 | ||||||
Sensata Technologies Holding PLC* | 1,033 | 59,821 | ||||||
ServiceNow, Inc.* | 1,337 | 775,353 | ||||||
Sherwin-Williams Co. | 1,647 | 433,375 | ||||||
Signature Bank | 407 | 140,370 | ||||||
Simon Property Group, Inc. REIT | 2,119 | 291,490 | ||||||
Sirius XM Holdings, Inc. (b) | 5,127 | 31,582 | ||||||
Skyworks Solutions, Inc. | 993 | 137,203 | ||||||
Snap, Inc., Class A* | 7,135 | 284,972 | ||||||
Snap-on, Inc. | 404 | 84,913 | ||||||
Snowflake, Inc., Class A* | 1,415 | 375,909 | ||||||
SoFi Technologies, Inc.* (b) | 3,508 | 40,167 | ||||||
Southern Co. | 7,179 | 464,984 | ||||||
Southwest Airlines Co.* | 1,032 | 45,202 | ||||||
Splunk, Inc.* | 1,118 | 132,036 | ||||||
SS&C Technologies Holdings, Inc. | 1,649 | 123,626 | ||||||
Stanley Black & Decker, Inc. | 1,118 | 181,899 | ||||||
Starbucks Corp. | 7,851 | 720,643 | ||||||
State Street Corp. | 2,562 | 218,615 | ||||||
Steel Dynamics, Inc. | 1,557 | 109,893 | ||||||
STERIS PLC | 669 | 160,560 | ||||||
Stryker Corp. | 2,285 | 601,755 | ||||||
Sun Communities, Inc. REIT | 759 | 137,379 | ||||||
Sunrun, Inc.* | 1,223 | 33,363 | ||||||
SVB Financial Group* | 381 | 230,886 | ||||||
Synchrony Financial | 3,601 | 154,051 | ||||||
Synopsys, Inc.* | 997 | 311,453 | ||||||
Sysco Corp. | 3,586 | 312,341 | ||||||
T. Rowe Price Group, Inc. | 1,553 | 224,502 | ||||||
Take-Two Interactive Software, Inc.* | 758 | 122,796 | ||||||
Target Corp. | 3,274 | 654,047 | ||||||
TE Connectivity Ltd. | 2,113 | 300,955 | ||||||
Teladoc Health, Inc.* | 987 | 74,923 | ||||||
Teledyne Technologies, Inc.* | 312 | 133,967 | ||||||
Teleflex, Inc. | 292 | 98,203 | ||||||
Teradyne, Inc. | 1,114 | 131,363 | ||||||
Tesla, Inc.* | 5,730 | 4,987,564 | ||||||
Texas Instruments, Inc. | 6,126 | 1,041,359 | ||||||
Textron, Inc. | 1,466 | 107,209 | ||||||
Thermo Fisher Scientific, Inc. | 2,645 | 1,438,880 | ||||||
TJX Cos., Inc. | 8,180 | 540,698 | ||||||
T-Mobile US, Inc.* | 4,223 | 520,316 | ||||||
Tractor Supply Co. | 763 | 155,492 | ||||||
Trade Desk, Inc., Class A* | 2,761 | 235,569 | ||||||
Tradeweb Markets, Inc., Class A | 663 | 56,010 | ||||||
TransDigm Group, Inc.* | 326 | 217,308 | ||||||
TransUnion | 1,393 | 126,429 | ||||||
Travelers Cos., Inc. | 1,747 | 300,187 | ||||||
Trimble, Inc.* | 1,732 | 120,807 | ||||||
Truist Financial Corp. | 8,978 | 558,611 | ||||||
Twilio, Inc., Class A* | 1,081 | 188,959 |
Number | Value | |||||||
United States (Continued) | ||||||||
Twitter, Inc.* | 5,027 | $ | 178,710 | |||||
Tyler Technologies, Inc.* | 291 | 124,624 | ||||||
Tyson Foods, Inc., Class A | 1,860 | 172,348 | ||||||
Uber Technologies, Inc.* | 9,964 | 359,003 | ||||||
UDR, Inc. REIT | 1,838 | 100,851 | ||||||
UGI Corp. | 1,278 | 49,126 | ||||||
Ulta Beauty, Inc.* | 321 | 120,214 | ||||||
Union Pacific Corp. | 4,356 | 1,071,358 | ||||||
United Parcel Service, Inc., Class B | 4,864 | 1,023,483 | ||||||
United Rentals, Inc.* | 487 | 156,629 | ||||||
UnitedHealth Group, Inc. | 6,302 | 2,998,933 | ||||||
Unity Software, Inc.* | 398 | 42,367 | ||||||
Universal Health Services, Inc., Class B | 522 | 75,131 | ||||||
Upstart Holdings, Inc.* | 137 | 21,645 | ||||||
US Bancorp | 9,505 | 537,413 | ||||||
Vail Resorts, Inc. | 290 | 75,559 | ||||||
Valero Energy Corp. | 2,545 | 212,533 | ||||||
Veeva Systems, Inc., Class A* | 929 | 212,787 | ||||||
Ventas, Inc. REIT | 2,942 | 158,868 | ||||||
VeriSign, Inc.* | 673 | 143,834 | ||||||
Verisk Analytics, Inc. | 1,020 | 180,887 | ||||||
Verizon Communications, Inc. | 27,659 | 1,484,459 | ||||||
Vertex Pharmaceuticals, Inc.* | 1,729 | 397,705 | ||||||
VF Corp. | 2,293 | 133,040 | ||||||
Viatris, Inc. | 8,009 | 88,179 | ||||||
VICI Properties, Inc. REIT | 3,795 | 106,108 | ||||||
Visa, Inc., Class A | 11,324 | 2,447,343 | ||||||
Vistra Corp. | 2,919 | 66,612 | ||||||
VMware, Inc., Class A | 1,385 | 162,488 | ||||||
Vornado Realty Trust REIT | 1,115 | 48,257 | ||||||
Vulcan Materials Co. | 829 | 150,422 | ||||||
W.R. Berkley Corp. | 832 | 75,130 | ||||||
W.W. Grainger, Inc. | 299 | 142,641 | ||||||
Walgreens Boots Alliance, Inc. | 4,766 | 219,665 | ||||||
Walmart, Inc. | 10,325 | 1,395,527 | ||||||
Walt Disney Co.* | 12,196 | 1,810,618 | ||||||
Waste Connections, Inc. | 1,837 | 226,851 | ||||||
Waste Management, Inc. | 2,822 | 407,497 | ||||||
Waters Corp.* | 402 | 127,325 | ||||||
Wayfair, Inc., Class A* (b) | 474 | 66,772 | ||||||
Webster Financial Corp. | 1,203 | 72,433 | ||||||
WEC Energy Group, Inc. | 1,989 | 180,760 | ||||||
Wells Fargo & Co. | 26,776 | 1,429,035 | ||||||
Welltower, Inc. REIT | 2,717 | 226,299 | ||||||
West Pharmaceutical Services, Inc. | 506 | 195,862 | ||||||
Western Digital Corp.* | 2,261 | 115,175 | ||||||
Western Union Co. | 3,307 | 60,121 | ||||||
Westinghouse Air Brake Technologies Corp. | 1,123 | 104,237 | ||||||
Westrock Co. | 1,640 | 74,243 | ||||||
Weyerhaeuser Co. REIT | 4,686 | 182,192 | ||||||
Whirlpool Corp. | 388 | 78,093 | ||||||
Williams Cos., Inc. | 7,563 | 236,571 | ||||||
Workday, Inc., Class A* | 1,310 | 300,055 | ||||||
WP Carey, Inc. REIT | 1,107 | 85,682 | ||||||
Wynn Resorts Ltd.* | 669 | 57,882 | ||||||
Xcel Energy, Inc. | 3,741 | 251,882 |
See Notes to Financial Statements. | 32 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
United States (Continued) | ||||||||
Xylem, Inc. | 1,277 | $ | 113,589 | |||||
Yum! Brands, Inc. | 1,926 | 236,089 | ||||||
Zebra Technologies Corp., Class A* | 342 | 141,362 | ||||||
Zendesk, Inc.* | 762 | 88,903 | ||||||
Zillow Group, Inc., Class A* | 412 | 23,595 | ||||||
Zillow Group, Inc., Class C* | 938 | 53,954 | ||||||
Zimmer Biomet Holdings, Inc. | 1,372 | 174,505 | ||||||
Zoetis, Inc. | 3,104 | 601,090 | ||||||
Zoom Video Communications, Inc., Class A* | 1,543 | 204,602 | ||||||
ZoomInfo Technologies, Inc.* | 1,529 | 83,621 | ||||||
Zscaler, Inc.* | 541 | 129,380 | ||||||
|
| |||||||
(Cost $217,048,224) | 257,352,542 | |||||||
|
| |||||||
TOTAL COMMON STOCKS | 360,119,063 | |||||||
|
| |||||||
PREFERRED STOCKS — 0.1% | ||||||||
Germany — 0.1% | ||||||||
Bayerische Motoren Werke AG | 301 | 24,646 | ||||||
FUCHS PETROLUB SE | 392 | 15,630 | ||||||
Henkel AG & Co. KGaA | 909 | 72,327 | ||||||
Porsche Automobil Holding SE | 1,111 | 113,407 | ||||||
Sartorius AG | 160 | 70,843 |
Number | Value | |||||||
Germany (Continued) | ||||||||
Volkswagen AG | 1,202 | $ | 240,370 | |||||
|
| |||||||
(Cost $530,676) | 537,223 | |||||||
|
| |||||||
WARRANTS — 0.0% | ||||||||
Switzerland — 0.0% | ||||||||
Cie Financiere Richemont SA*, expires 11/22/23 (Cost $0) | 19,824 | 17,502 | ||||||
|
| |||||||
SECURITIES LENDING COLLATERAL — 0.1% | ||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (e)(f) | 300,102 | 300,102 | ||||||
|
| |||||||
CASH EQUIVALENTS — 0.0% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (e) | 60,718 | 60,718 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 99.9% (Cost $312,142,763) | $ | 361,034,608 | ||||||
Other assets and liabilities, net — 0.1% | 493,447 | |||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 361,528,055 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2022 is as follows:
Value ($) at 8/31/2021 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2022 | Value ($) at 2/28/2022 | ||||||||||||||||||||||||||||
COMMON STOCKS — 0.1% |
| |||||||||||||||||||||||||||||||||||
Germany — 0.1% |
| |||||||||||||||||||||||||||||||||||
Deutsche Bank AG*(c) |
| |||||||||||||||||||||||||||||||||||
356,205 | — | (196,813 | ) | 57,895 | (45,107 | ) | — | — | 13,614 | 172,180 | ||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 0.1% |
| |||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (e)(f) |
| |||||||||||||||||||||||||||||||||||
430,881 | — | (130,779 | ) (g) | — | — | 68 | — | 300,102 | 300,102 | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.0% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (e) |
| |||||||||||||||||||||||||||||||||||
985,575 | 8,785,931 | (9,710,788 | ) | — | — | 92 | — | 60,718 | 60,718 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
1,772,661 | 8,785,931 | (10,038,380) | 57,895 | (45,107) | 160 | — | 374,434 | 533,000 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* | Non-income producing security. |
(a) | Stapled Security—A security contractually bound to one or more other securities to form a single saleable unit which cannot be sold separately. |
(b) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2022 amounted to $1,746,297, which is 0.5% of net assets. |
(c) | Affiliated issuer. This security is owned in proportion with its representation in the index. |
(d) | Investment was valued using significant unobservable inputs. |
(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 $1,527,554. |
(g) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2022. |
See Notes to Financial Statements. | 33 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
February 28, 2022 (Unaudited)
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. |
Securities are listed in country of domicile.
At February 28, 2022, open futures contracts purchased were as follows:
Contract Description | Currency | Number of Contracts | Notional Amount | Contract Value | Expiration Date | Unrealized Appreciation (Depreciation) | ||||||||||||
E-Mini S&P 500 Futures | USD | 2 | $ | 465,929 | $ | 436,800 | 3/18/2022 | $ | (29,129 | ) | ||||||||
MINI S&P/TSX 60 Futures | CAD | 1 | 49,690 | 50,278 | 3/17/2022 | 588 | ||||||||||||
MSCI EAFE Futures | USD | 3 | 328,500 | 323,970 | 3/18/2022 | (4,530 | ) | |||||||||||
|
| |||||||||||||||||
Total net unrealized depreciation | $ | (33,071 | ) | |||||||||||||||
|
|
For information on the Fund’s policy and additional disclosures regarding open futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
Currency Abbreviations
CAD | Canadian Dollar |
USD | U.S. Dollar |
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2022 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
Assets | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stocks (h) | $ | 360,102,870 | $ | — | $ | 16,193 | $ | 360,119,063 | ||||||||
Preferred Stocks | 537,223 | — | — | 537,223 | ||||||||||||
Warrants | 17,502 | — | — | 17,502 | ||||||||||||
Short-Term Investments (h) | 360,820 | — | — | 360,820 | ||||||||||||
Derivatives (i) | ||||||||||||||||
Futures Contracts | 588 | — | — | 588 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 361,019,003 | $ | — | $ | 16,193 | $ | 361,035,196 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liabilities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Derivatives (i) | ||||||||||||||||
Futures Contracts | $ | (33,659 | ) | $ | — | $ | — | $ | (33,659 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | (33,659 | ) | $ | — | $ | — | $ | (33,659 | ) | ||||||
|
|
|
|
|
|
|
|
(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, 2022, the amount of transfers from Level 1 to Level 3 was $61,210. 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 Russell 1000 US Quality at a Reasonable Price ETF
February 28, 2022 (Unaudited)
Number | Value | |||||||
COMMON STOCKS — 98.4% | ||||||||
Communication Services — 10.6% | ||||||||
Activision Blizzard, Inc. | 299 | $ | 24,369 | |||||
Alphabet, Inc., Class A* | 139 | 375,458 | ||||||
Alphabet, Inc., Class C* | 139 | 374,997 | ||||||
AT&T, Inc. | 3,749 | 88,814 | ||||||
Charter Communications, Inc., Class A* | 33 | 19,859 | ||||||
Discovery, Inc., Class C* | 172 | 4,811 | ||||||
DISH Network Corp., Class A* (a) | 80 | 2,557 | ||||||
Electronic Arts, Inc. | 251 | 32,653 | ||||||
Fox Corp., Class A | 292 | 12,214 | ||||||
Fox Corp., Class B | 141 | 5,395 | ||||||
Interpublic Group of Cos., Inc. | 348 | 12,806 | ||||||
Lumen Technologies, Inc. (a) | 251 | 2,600 | ||||||
Meta Platforms, Inc., Class A* | 1,589 | 335,327 | ||||||
New York Times Co., Class A | 93 | 4,091 | ||||||
News Corp., Class A | 151 | 3,370 | ||||||
Nexstar Media Group, Inc., Class A | 20 | 3,701 | ||||||
Omnicom Group, Inc. | 134 | 11,241 | ||||||
Take-Two Interactive Software, Inc.* | 79 | 12,798 | ||||||
Verizon Communications, Inc. | 2,938 | 157,682 | ||||||
Walt Disney Co.* | 100 | 14,846 | ||||||
|
| |||||||
(Cost $1,375,246) | 1,499,589 | |||||||
|
| |||||||
Consumer Discretionary — 13.2% | ||||||||
Advance Auto Parts, Inc. | 86 | 17,585 | ||||||
Amazon.com, Inc.* | 168 | 515,972 | ||||||
AutoNation, Inc.* | 45 | 5,160 | ||||||
AutoZone, Inc.* | 17 | 31,678 | ||||||
Bath & Body Works, Inc. | 73 | 3,896 | ||||||
Best Buy Co., Inc. | 380 | 36,723 | ||||||
Booking Holdings, Inc.* | 21 | 45,617 | ||||||
BorgWarner, Inc. | 122 | 5,003 | ||||||
Brunswick Corp. | 65 | 6,209 | ||||||
Carnival Corp.* | 258 | 5,245 | ||||||
Carter’s, Inc. | 31 | 2,997 | ||||||
Chipotle Mexican Grill, Inc.* | 8 | 12,187 | ||||||
Columbia Sportswear Co. | 30 | 2,782 | ||||||
D.R. Horton, Inc. | 210 | 17,934 | ||||||
Darden Restaurants, Inc. | 93 | 13,505 | ||||||
Deckers Outdoor Corp.* | 19 | 5,484 | ||||||
Dick’s Sporting Goods, Inc. (a) | 107 | 11,235 | ||||||
Dollar General Corp. | 271 | 53,750 | ||||||
Dollar Tree, Inc.* | 237 | 33,673 | ||||||
Domino’s Pizza, Inc. | 14 | 6,051 | ||||||
eBay, Inc. | 870 | 47,493 | ||||||
Etsy, Inc.* | 47 | 7,280 | ||||||
Expedia Group, Inc.* | 61 | 11,963 | ||||||
Five Below, Inc.* | 17 | 2,781 | ||||||
Floor & Decor Holdings, Inc., Class A* | 45 | 4,303 | ||||||
Foot Locker, Inc. | 155 | 4,901 | ||||||
Gap, Inc. | 103 | 1,499 | ||||||
Garmin Ltd. | 134 | 14,799 | ||||||
Gentex Corp. | 280 | 8,476 | ||||||
Genuine Parts Co. | 103 | 12,582 | ||||||
Grand Canyon Education, Inc.* | 45 | 3,907 | ||||||
Home Depot, Inc. | 688 | 217,291 | ||||||
Kohl’s Corp. | 53 | 2,948 |
Number | Value | |||||||
Consumer Discretionary (Continued) | ||||||||
Las Vegas Sands Corp.* | 79 | $ | 3,386 | |||||
Lear Corp. | 31 | 4,878 | ||||||
Lennar Corp., Class A | 250 | 22,470 | ||||||
LKQ Corp. | 175 | 8,216 | ||||||
Lowe’s Cos., Inc. | 698 | 154,300 | ||||||
Lululemon Athletica, Inc.* | 38 | 12,158 | ||||||
MGM Resorts International | 86 | 3,809 | ||||||
Mohawk Industries, Inc.* | 58 | 8,165 | ||||||
Newell Brands, Inc. | 100 | 2,375 | ||||||
NIKE, Inc., Class B | 422 | 57,624 | ||||||
NVR, Inc.* | 3 | 14,875 | ||||||
Ollie’s Bargain Outlet Holdings, Inc.* | 46 | 1,986 | ||||||
O’Reilly Automotive, Inc.* | 58 | 37,656 | ||||||
Polaris, Inc. (a) | 71 | 8,627 | ||||||
Pool Corp. | 17 | 7,796 | ||||||
PulteGroup, Inc. | 325 | 16,140 | ||||||
Qurate Retail, Inc., Series A | 277 | 1,526 | ||||||
Ralph Lauren Corp. | 26 | 3,433 | ||||||
Ross Stores, Inc. | 210 | 19,192 | ||||||
Royal Caribbean Cruises Ltd.* | 58 | 4,682 | ||||||
Starbucks Corp. | 529 | 48,557 | ||||||
Tapestry, Inc. | 150 | 6,135 | ||||||
Target Corp. | 706 | 141,038 | ||||||
Tempur Sealy International, Inc. | 115 | 3,796 | ||||||
Thor Industries, Inc. (a) | 38 | 3,439 | ||||||
TJX Cos., Inc. | 416 | 27,498 | ||||||
Tractor Supply Co. | 127 | 25,881 | ||||||
Ulta Beauty, Inc.* | 33 | 12,359 | ||||||
Victoria’s Secret & Co.* | 24 | 1,287 | ||||||
Wayfair, Inc., Class A* (a) | 38 | 5,353 | ||||||
Whirlpool Corp. | 38 | 7,648 | ||||||
Williams-Sonoma, Inc. | 106 | 15,355 | ||||||
YETI Holdings, Inc.* | 38 | 2,339 | ||||||
Yum China Holdings, Inc. | 44 | 2,289 | ||||||
|
| |||||||
(Cost $1,896,746) | 1,869,177 | |||||||
|
| |||||||
Consumer Staples — 7.9% | ||||||||
Altria Group, Inc. | 1,071 | 54,932 | ||||||
Boston Beer Co., Inc., Class A* | 3 | 1,150 | ||||||
Campbell Soup Co. | 65 | 2,923 | ||||||
Church & Dwight Co., Inc. | 86 | 8,415 | ||||||
Clorox Co. | 93 | 13,559 | ||||||
Colgate-Palmolive Co. | 430 | 33,089 | ||||||
Conagra Brands, Inc. | 155 | 5,420 | ||||||
Costco Wholesale Corp. | 448 | 232,624 | ||||||
Darling Ingredients, Inc.* | 38 | 2,754 | ||||||
Estee Lauder Cos., Inc., Class A | 83 | 24,595 | ||||||
General Mills, Inc. | 243 | 16,386 | ||||||
Herbalife Nutrition Ltd.* | 93 | 3,309 | ||||||
Hershey Co. | 76 | 15,372 | ||||||
Hormel Foods Corp. | 237 | 11,291 | ||||||
Ingredion, Inc. | 45 | 3,993 | ||||||
J M Smucker Co. | 47 | 6,333 | ||||||
Kellogg Co. | 89 | 5,691 | ||||||
Kimberly-Clark Corp. | 217 | 28,243 | ||||||
Kroger Co. | 539 | 25,225 | ||||||
Monster Beverage Corp.* | 253 | 21,353 |
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, 2022 (Unaudited)
Number | Value | |||||||
Consumer Staples (Continued) | ||||||||
PepsiCo, Inc. | 79 | $ | 12,935 | |||||
Philip Morris International, Inc. | 1,192 | 120,475 | ||||||
Procter & Gamble Co. | 1,219 | 190,030 | ||||||
Spectrum Brands Holdings, Inc. | 31 | 2,876 | ||||||
Sysco Corp. | 244 | 21,252 | ||||||
Tyson Foods, Inc., Class A | 122 | 11,305 | ||||||
Walgreens Boots Alliance, Inc. | 499 | 22,999 | ||||||
Walmart, Inc. | 1,677 | 226,663 | ||||||
|
| |||||||
(Cost $1,033,453) | 1,125,192 | |||||||
|
| |||||||
Energy — 3.8% | ||||||||
Chevron Corp. | 980 | 141,120 | ||||||
ConocoPhillips | 777 | 73,706 | ||||||
Coterra Energy, Inc. | 423 | 9,869 | ||||||
Devon Energy Corp. | 250 | 14,887 | ||||||
Diamondback Energy, Inc. | 52 | 7,181 | ||||||
DT Midstream, Inc. | 31 | 1,646 | ||||||
EOG Resources, Inc. | 637 | 73,204 | ||||||
Exxon Mobil Corp. | 1,737 | 136,216 | ||||||
Marathon Oil Corp. | 271 | 6,114 | ||||||
Marathon Petroleum Corp. | 368 | 28,656 | ||||||
Phillips 66 | 66 | 5,560 | ||||||
Pioneer Natural Resources Co. | 111 | 26,596 | ||||||
Valero Energy Corp. | 65 | 5,428 | ||||||
|
| |||||||
(Cost $438,990) | 530,183 | |||||||
|
| |||||||
Financials — 8.3% | ||||||||
Aflac, Inc. | 210 | 12,829 | ||||||
Allstate Corp. | 224 | 27,409 | ||||||
Aon PLC, Class A | 86 | 25,124 | ||||||
Apollo Global Management, Inc. | 79 | 5,156 | ||||||
Arch Capital Group Ltd.* | 223 | 10,505 | ||||||
Berkshire Hathaway, Inc., Class B* | 1,717 | 551,930 | ||||||
Brown & Brown, Inc. | 79 | 5,341 | ||||||
Capital One Financial Corp. | 162 | 24,830 | ||||||
Cboe Global Markets, Inc. | 100 | 11,729 | ||||||
Cincinnati Financial Corp. | 160 | 19,646 | ||||||
Credit Acceptance Corp.* | 11 | 6,051 | ||||||
Erie Indemnity Co., Class A | 24 | 4,202 | ||||||
Evercore, Inc., Class A | 99 | 12,574 | ||||||
FactSet Research Systems, Inc. | 30 | 12,183 | ||||||
Fidelity National Financial, Inc. | 368 | 17,531 | ||||||
First American Financial Corp. | 132 | 8,849 | ||||||
Franklin Resources, Inc. | 279 | 8,295 | ||||||
Hartford Financial Services Group, Inc. | 86 | 5,975 | ||||||
Lazard Ltd., Class A | 168 | 5,809 | ||||||
LPL Financial Holdings, Inc. | 113 | 20,447 | ||||||
Markel Corp.* | 3 | 3,729 | ||||||
MarketAxess Holdings, Inc. | 17 | 6,484 | ||||||
Marsh & McLennan Cos., Inc. | 243 | 37,765 | ||||||
MGIC Investment Corp. | 656 | 9,958 | ||||||
Moody’s Corp. | 127 | 40,898 | ||||||
MSCI, Inc. | 51 | 25,586 | ||||||
Nasdaq, Inc. | 38 | 6,504 | ||||||
Old Republic International Corp. | 162 | 4,269 | ||||||
Progressive Corp. | 970 | 102,752 | ||||||
S&P Global, Inc. (a) | 192 | 72,134 |
Number | Value | |||||||
Financials (Continued) | ||||||||
SEI Investments Co. | 141 | $ | 8,260 | |||||
Synchrony Financial | 265 | 11,337 | ||||||
T. Rowe Price Group, Inc. | 276 | 39,899 | ||||||
Travelers Cos., Inc. | 58 | 9,966 | ||||||
White Mountains Insurance Group Ltd. | 4 | 4,201 | ||||||
|
| |||||||
(Cost $966,655) | 1,180,157 | |||||||
|
| |||||||
Health Care — 14.8% | ||||||||
AbbVie, Inc. | 560 | 82,751 | ||||||
ABIOMED, Inc.* | 19 | 5,904 | ||||||
Align Technology, Inc.* | 21 | 10,741 | ||||||
AmerisourceBergen Corp. | 99 | 14,110 | ||||||
Amgen, Inc. | 412 | 93,310 | ||||||
Anthem, Inc. | 300 | 135,555 | ||||||
Biogen, Inc.* | 272 | 57,395 | ||||||
Bio-Rad Laboratories, Inc., Class A* | 27 | 16,901 | ||||||
Bristol-Myers Squibb Co. | 176 | 12,086 | ||||||
Cardinal Health, Inc. | 271 | 14,637 | ||||||
Cerner Corp. | 303 | 28,255 | ||||||
Chemed Corp. | 16 | 7,653 | ||||||
Cigna Corp. | 512 | 121,743 | ||||||
CVS Health Corp. | 930 | 96,394 | ||||||
DaVita, Inc.* | 65 | 7,330 | ||||||
Edwards Lifesciences Corp.* | 313 | 35,172 | ||||||
Eli Lilly & Co. | 206 | 51,490 | ||||||
Exelixis, Inc.* | 182 | 3,736 | ||||||
Gilead Sciences, Inc. | 91 | 5,496 | ||||||
HCA Healthcare, Inc. | 129 | 32,290 | ||||||
Henry Schein, Inc.* | 160 | 13,821 | ||||||
Hologic, Inc.* | 89 | 6,334 | ||||||
Humana, Inc. | 232 | 100,762 | ||||||
IDEXX Laboratories, Inc.* | 22 | 11,712 | ||||||
Illumina, Inc.* | 26 | 8,492 | ||||||
Incyte Corp.* | 38 | 2,595 | ||||||
Intuitive Surgical, Inc.* | 60 | 17,420 | ||||||
Jazz Pharmaceuticals PLC* | 37 | 5,084 | ||||||
Johnson & Johnson | 1,810 | 297,872 | ||||||
Laboratory Corp. of America Holdings* | 45 | 12,207 | ||||||
Masimo Corp.* | 17 | 2,677 | ||||||
McKesson Corp. | 210 | 57,742 | ||||||
Merck & Co., Inc. | 667 | 51,079 | ||||||
Mettler-Toledo International, Inc.* | 13 | 18,314 | ||||||
Molina Healthcare, Inc.* | 31 | 9,513 | ||||||
Neurocrine Biosciences, Inc.* | 38 | 3,415 | ||||||
Organon & Co. | 381 | 14,223 | ||||||
PerkinElmer, Inc. | 32 | 5,747 | ||||||
Pfizer, Inc. | 1,318 | 61,867 | ||||||
Premier, Inc., Class A | 107 | 3,846 | ||||||
Quest Diagnostics, Inc. | 84 | 11,027 | ||||||
Quidel Corp.* | 45 | 4,760 | ||||||
Regeneron Pharmaceuticals, Inc.* | 98 | 60,599 | ||||||
ResMed, Inc. | 45 | 11,104 | ||||||
Sage Therapeutics, Inc. *(a) | 65 | 2,364 | ||||||
Seagen, Inc.* | 38 | 4,897 | ||||||
Thermo Fisher Scientific, Inc. | 127 | 69,088 | ||||||
United Therapeutics Corp.* | 26 | 4,321 | ||||||
UnitedHealth Group, Inc. | 658 | 313,122 |
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, 2022 (Unaudited)
Number | Value | |||||||
Health Care (Continued) | ||||||||
Universal Health Services, Inc., Class B | 79 | $ | 11,370 | |||||
Vertex Pharmaceuticals, Inc.* | 168 | 38,643 | ||||||
Waters Corp.* | 38 | 12,036 | ||||||
West Pharmaceutical Services, Inc. | 38 | 14,709 | ||||||
|
| |||||||
(Cost $1,841,545) | 2,095,711 | |||||||
|
| |||||||
Industrials — 6.9% | ||||||||
3M Co. | 251 | 37,311 | ||||||
A O Smith Corp. | 148 | 10,150 | ||||||
Acuity Brands, Inc. | 52 | 9,483 | ||||||
AGCO Corp. | 58 | 6,969 | ||||||
Alaska Air Group, Inc.* | 107 | 6,007 | ||||||
Boeing Co.* | 52 | 10,678 | ||||||
Booz Allen Hamilton Holding Corp. | 38 | 3,066 | ||||||
C.H. Robinson Worldwide, Inc. | 52 | 5,027 | ||||||
Carlisle Cos., Inc. | 17 | 4,036 | ||||||
Carrier Global Corp. | 1,001 | 44,925 | ||||||
Caterpillar, Inc. | 113 | 21,197 | ||||||
Cintas Corp. | 24 | 9,008 | ||||||
Copart, Inc.* | 127 | 15,606 | ||||||
Cummins, Inc. | 172 | 35,109 | ||||||
Delta Air Lines, Inc.* | 564 | 22,515 | ||||||
Donaldson Co., Inc. | 72 | 3,907 | ||||||
Eaton Corp. PLC | 113 | 17,435 | ||||||
Emerson Electric Co. | 388 | 36,053 | ||||||
Expeditors International of Washington, Inc. | 168 | 17,364 | ||||||
Fastenal Co. | 475 | 24,443 | ||||||
FedEx Corp. | 60 | 13,336 | ||||||
Fortune Brands Home & Security, Inc. | 31 | 2,694 | ||||||
FTI Consulting, Inc.* | 38 | 5,548 | ||||||
General Dynamics Corp. | 58 | 13,598 | ||||||
Graco, Inc. | 113 | 8,146 | ||||||
Honeywell International, Inc. | 38 | 7,211 | ||||||
Huntington Ingalls Industries, Inc. | 52 | 10,629 | ||||||
Illinois Tool Works, Inc. | 91 | 19,687 | ||||||
ITT, Inc. | 79 | 6,942 | ||||||
Jacobs Engineering Group, Inc. | 40 | 4,920 | ||||||
JB Hunt Transport Services, Inc. | 93 | 18,872 | ||||||
JetBlue Airways Corp.* | 188 | 2,871 | ||||||
Johnson Controls International PLC | 258 | 16,760 | ||||||
Knight-Swift Transportation Holdings, Inc. | 203 | 11,059 | ||||||
L3Harris Technologies, Inc. | 65 | 16,400 | ||||||
Landstar System, Inc. | 31 | 4,787 | ||||||
Lennox International, Inc. | 13 | 3,470 | ||||||
Lincoln Electric Holdings, Inc. | 43 | 5,481 | ||||||
Lockheed Martin Corp. | 292 | 126,670 | ||||||
ManpowerGroup, Inc. | 50 | 5,314 | ||||||
Masco Corp. | 223 | 12,497 | ||||||
MSC Industrial Direct Co., Inc., Class A | 51 | 3,951 | ||||||
Northrop Grumman Corp. | 53 | 23,433 | ||||||
Old Dominion Freight Line, Inc. | 70 | 21,982 | ||||||
Oshkosh Corp. | 58 | 6,440 | ||||||
Otis Worldwide Corp. | 354 | 27,729 | ||||||
Owens Corning | 58 | 5,405 | ||||||
PACCAR, Inc. | 103 | 9,456 | ||||||
Parker-Hannifin Corp. | 33 | 9,781 |
Number | Value | |||||||
Industrials (Continued) | ||||||||
Pentair PLC | 63 | $ | 3,648 | |||||
Quanta Services, Inc. | 86 | 9,369 | ||||||
Republic Services, Inc. | 52 | 6,255 | ||||||
Robert Half International, Inc. | 106 | 12,751 | ||||||
Rockwell Automation, Inc. | 45 | 11,996 | ||||||
Snap-on, Inc. | 52 | 10,929 | ||||||
Southwest Airlines Co.* | 550 | 24,090 | ||||||
Stanley Black & Decker, Inc. | 30 | 4,881 | ||||||
Textron, Inc. | 65 | 4,753 | ||||||
Toro Co. | 38 | 3,565 | ||||||
Trane Technologies PLC | 50 | 7,697 | ||||||
Trex Co., Inc.* | 51 | 4,684 | ||||||
Union Pacific Corp. | 34 | 8,362 | ||||||
United Airlines Holdings, Inc.* | 107 | 4,751 | ||||||
United Parcel Service, Inc., Class B | 285 | 59,970 | ||||||
United Rentals, Inc.* | 25 | 8,041 | ||||||
W.W. Grainger, Inc. | 37 | 17,651 | ||||||
Watsco, Inc. | 32 | 8,738 | ||||||
|
| |||||||
(Cost $910,721) | 977,489 | |||||||
|
| |||||||
Information Technology — 29.1% | ||||||||
Accenture PLC, Class A | 458 | 144,737 | ||||||
Adobe, Inc.* | 250 | 116,920 | ||||||
Advanced Micro Devices, Inc.* | 499 | 61,547 | ||||||
Akamai Technologies, Inc.* | 45 | 4,872 | ||||||
Amdocs Ltd. | 138 | 10,861 | ||||||
Apple, Inc. | 5,332 | 880,420 | ||||||
Applied Materials, Inc. | 485 | 65,087 | ||||||
Arista Networks, Inc.* | 148 | 18,164 | ||||||
Arrow Electronics, Inc.* | 52 | 6,338 | ||||||
Autodesk, Inc.* | 58 | 12,773 | ||||||
Automatic Data Processing, Inc. | 313 | 63,990 | ||||||
Avnet, Inc. | 100 | 4,207 | ||||||
Broadridge Financial Solutions, Inc. | 97 | 14,182 | ||||||
Cadence Design Systems, Inc.* | 145 | 21,957 | ||||||
CDW Corp. | 25 | 4,311 | ||||||
Ciena Corp.* | 148 | 10,126 | ||||||
Cirrus Logic, Inc.* | 55 | 4,778 | ||||||
Cisco Systems, Inc. | 4,637 | 258,605 | ||||||
Citrix Systems, Inc. | 107 | 10,967 | ||||||
Cognex Corp. | 52 | 3,513 | ||||||
Cognizant Technology Solutions Corp., Class A | 680 | 58,568 | ||||||
Dell Technologies, Inc., Class C* | 65 | 3,312 | ||||||
Dolby Laboratories, Inc., Class A | 45 | 3,380 | ||||||
Enphase Energy, Inc.* | 20 | 3,334 | ||||||
EPAM Systems, Inc.* | 17 | 3,532 | ||||||
F5, Inc.* | 44 | 8,837 | ||||||
Fortinet, Inc.* | 73 | 25,150 | ||||||
Hewlett Packard Enterprise Co. | 361 | 5,747 | ||||||
HP, Inc. | 2,306 | 79,234 | ||||||
Intel Corp. | 6,778 | 323,311 | ||||||
International Business Machines Corp. | 237 | 29,035 | ||||||
Intuit, Inc. | 120 | 56,924 | ||||||
IPG Photonics Corp.* | 17 | 2,216 | ||||||
Jabil, Inc. | 131 | 7,573 | ||||||
Jack Henry & Associates, Inc. | 52 | 9,194 |
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, 2022 (Unaudited)
Number | Value | |||||||
Information Technology (Continued) | ||||||||
Keysight Technologies, Inc.* | 64 | $ | 10,072 | |||||
KLA Corp. | 63 | 21,956 | ||||||
Kyndryl Holdings, Inc.* | 45 | 714 | ||||||
Lam Research Corp. | 72 | 40,417 | ||||||
Mastercard, Inc., Class A | 481 | 173,554 | ||||||
Micron Technology, Inc. | 1,355 | 120,405 | ||||||
Microsoft Corp. | 2,448 | 731,438 | ||||||
MKS Instruments, Inc. | 23 | 3,464 | ||||||
Monolithic Power Systems, Inc. | 11 | 5,046 | ||||||
National Instruments Corp. | 80 | 3,212 | ||||||
NetApp, Inc. | 235 | 18,419 | ||||||
NortonLifeLock, Inc. | 223 | 6,463 | ||||||
NVIDIA Corp. | 540 | 131,679 | ||||||
Oracle Corp. | 1,118 | 84,934 | ||||||
Paychex, Inc. | 244 | 29,051 | ||||||
PayPal Holdings, Inc.* | 49 | 5,485 | ||||||
Qorvo, Inc.* | 58 | 7,933 | ||||||
salesforce.com, Inc.* | 225 | 47,369 | ||||||
Skyworks Solutions, Inc. | 141 | 19,482 | ||||||
Synopsys, Inc.* | 66 | 20,618 | ||||||
TD SYNNEX Corp. | 38 | 3,870 | ||||||
Teledyne Technologies, Inc.* | 12 | 5,153 | ||||||
Teradyne, Inc. | 145 | 17,098 | ||||||
Texas Instruments, Inc. | 774 | 131,572 | ||||||
Tyler Technologies, Inc.* | 10 | 4,283 | ||||||
Universal Display Corp. | 20 | 3,098 | ||||||
VeriSign, Inc.* | 52 | 11,113 | ||||||
Visa, Inc., Class A (a) | 540 | 116,705 | ||||||
VMware, Inc., Class A | 65 | 7,626 | ||||||
Western Union Co. | 365 | 6,636 | ||||||
Zebra Technologies Corp., Class A* | 13 | 5,373 | ||||||
|
| |||||||
(Cost $3,630,839) | 4,131,940 | |||||||
|
| |||||||
Materials — 1.9% | ||||||||
Air Products and Chemicals, Inc. | 112 | 26,465 | ||||||
Amcor PLC | 981 | 11,409 | ||||||
Berry Global Group, Inc.* | 52 | 3,154 | ||||||
Celanese Corp. | 93 | 12,953 | ||||||
CF Industries Holdings, Inc. | 120 | 9,743 | ||||||
Corteva, Inc. | 608 | 31,634 | ||||||
Dow, Inc. | 457 | 26,945 | ||||||
DuPont de Nemours, Inc. | 32 | 2,476 | ||||||
Eagle Materials, Inc. | 24 | 3,284 | ||||||
International Paper Co. | 251 | 10,926 | ||||||
Louisiana-Pacific Corp. | 107 | 7,699 | ||||||
LyondellBasell Industries NV, Class A | 143 | 13,904 | ||||||
Mosaic Co. | 113 | 5,924 | ||||||
Newmont Corp. | 477 | 31,577 | ||||||
Nucor Corp. | 155 | 20,401 | ||||||
Packaging Corp. of America | 58 | 8,537 | ||||||
Reliance Steel & Aluminum Co. | 72 | 13,743 | ||||||
Scotts Miracle-Gro Co. | 31 | 4,342 | ||||||
Sherwin-Williams Co. | 76 | 19,998 | ||||||
Steel Dynamics, Inc. | 93 | 6,564 | ||||||
Sylvamo Corp.* | 24 | 838 | ||||||
|
| |||||||
(Cost $241,982) | 272,516 | |||||||
|
|
Number | Value | |||||||
Real Estate — 1.1% | ||||||||
Apartment Income REIT Corp. REIT | 70 | $ | 3,613 | |||||
Boston Properties, Inc. REIT | 38 | 4,648 | ||||||
CBRE Group, Inc., Class A* | 402 | 38,934 | ||||||
Gaming and Leisure Properties, Inc. REIT | 65 | 2,952 | ||||||
Highwoods Properties, Inc. REIT | 58 | 2,529 | ||||||
Host Hotels & Resorts, Inc. REIT* | 415 | 7,582 | ||||||
Jones Lang LaSalle, Inc.* | 31 | 7,633 | ||||||
Kimco Realty Corp. REIT | 320 | 7,529 | ||||||
Public Storage REIT | 121 | 42,957 | ||||||
Simon Property Group, Inc. REIT | 148 | 20,359 | ||||||
VICI Properties, Inc. REIT | 187 | 5,228 | ||||||
Vornado Realty Trust REIT | 162 | 7,011 | ||||||
Weyerhaeuser Co. REIT | 216 | 8,398 | ||||||
|
| |||||||
(Cost $133,561) | 159,373 | |||||||
|
| |||||||
Utilities — 0.8% | ||||||||
AES Corp. | 293 | 6,220 | ||||||
Constellation Energy Corp. | 155 | 7,127 | ||||||
DTE Energy Co. | 58 | 7,052 | ||||||
Entergy Corp. | 50 | 5,261 | ||||||
Evergy, Inc. | 102 | 6,366 | ||||||
Exelon Corp. | 465 | 19,790 | ||||||
NRG Energy, Inc. | 349 | 13,206 | ||||||
PPL Corp. | 206 | 5,391 | ||||||
Public Service Enterprise Group, Inc. | 230 | 14,911 | ||||||
Sempra Energy | 90 | 12,980 | ||||||
Vistra Corp. | 478 | 10,908 | ||||||
|
| |||||||
(Cost $100,437) | 109,212 | |||||||
|
| |||||||
TOTAL COMMON STOCKS | 13,950,539 | |||||||
|
| |||||||
SECURITIES LENDING COLLATERAL — 0.1% | ||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (b)(c) | 10,656 | 10,656 | ||||||
|
| |||||||
CASH EQUIVALENTS — 1.4% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (b) | 204,073 | $ | 204,073 | |||||
|
| |||||||
TOTAL INVESTMENTS — 99.9% | $ | 14,165,268 | ||||||
Other assets and liabilities, net — 0.1% | 20,533 | |||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 14,185,801 | ||||||
|
|
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, 2022 (Unaudited)
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2022 is as follows:
Value ($) at 8/31/2021 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2022 | Value ($) at 2/28/2022 | ||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 0.1% |
| |||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (b)(c) |
| |||||||||||||||||||||||||||||||||||
18,629 | — | (7,973 | )(d) | — | — | — | — | 10,656 | 10,656 | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 1.4% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (b) |
| |||||||||||||||||||||||||||||||||||
187,481 | 452,409 | (435,817 | ) | — | — | 36 | — | 204,073 | 204,073 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
206,110 | 452,409 | (443,790 | ) | — | — | 36 | — | 214,729 | 214,729 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* | Non-income producing security. |
(a) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2022 amounted to $173,156, which is 1.2% of net assets. |
(b) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
(c) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund held non-cash U.S. Treasury securities collateral having a value of $167,437. |
(d) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2022. |
REIT: | Real Estate Investment Trust |
At February 28, 2022, open futures contracts purchased were as follows:
Contract Description | Currency | Number of Contracts | Notional Amount | Contract Value | Expiration Date | Unrealized Depreciation | ||||||||||||
E-Mini S&P 500 Futures | USD | 1 | $ | 232,970 | $218,400 | 3/18/2022 | $ | (14,570 | ) |
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, 2022 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
Assets | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stocks (e) | $ | 13,950,539 | $ | — | $ | — | $ | 13,950,539 | ||||||||
Short-Term Investments (e) | 214,729 | — | — | 214,729 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 14,165,268 | $ | — | $ | — | $ | 14,165,268 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liabilities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Derivatives (f) | ||||||||||||||||
Futures Contracts | $ | (14,570 | ) | $ | — | $ | — | $ | (14,570 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | (14,570 | ) | $ | — | $ | — | $ | (14,570 | ) | ||||||
|
|
|
|
|
|
|
|
(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, 2022 (Unaudited)
Number | Value | |||||||
COMMON STOCKS — 99.6% | ||||||||
Communication Services — 2.6% | ||||||||
Activision Blizzard, Inc. | 716 | $ | 58,354 | |||||
Alphabet, Inc., Class A* | 60 | 162,068 | ||||||
Alphabet, Inc., Class C* | 60 | 161,869 | ||||||
AT&T, Inc. | 3,437 | 81,423 | ||||||
Cable One, Inc. | 24 | 34,388 | ||||||
Charter Communications, Inc., Class A* | 167 | 100,497 | ||||||
Comcast Corp., Class A | 1,540 | 72,010 | ||||||
Discovery, Inc., Class A*(a) | 721 | 20,224 | ||||||
Discovery, Inc., Class C* | 2,931 | 81,980 | ||||||
DISH Network Corp., Class A* | 3,866 | 123,557 | ||||||
Electronic Arts, Inc. | 1,108 | 144,140 | ||||||
Fox Corp., Class A | 8,921 | 373,165 | ||||||
Fox Corp., Class B | 3,758 | 143,781 | ||||||
Interpublic Group of Cos., Inc. | 19,936 | 733,645 | ||||||
Liberty Broadband Corp., Class C* | 200 | 29,340 | ||||||
Liberty Media Corp.-Liberty Formula One, Class C* | 219 | 13,300 | ||||||
Liberty Media Corp-Liberty SiriusXM, Class A* | 975 | 49,101 | ||||||
Liberty Media Corp-Liberty SiriusXM, Class C* | 1,804 | 90,777 | ||||||
Loyalty Ventures, Inc.* | 1,210 | 29,040 | ||||||
Lumen Technologies, Inc. | 18,811 | 194,882 | ||||||
Match Group, Inc.* | 351 | 39,133 | ||||||
Meta Platforms, Inc., Class A* | 253 | 53,391 | ||||||
Netflix, Inc.* | 33 | 13,019 | ||||||
New York Times Co., Class A | 1,529 | 67,261 | ||||||
News Corp., Class A | 12,117 | 270,451 | ||||||
News Corp., Class B | 3,886 | 87,163 | ||||||
Nexstar Media Group, Inc., Class A | 1,993 | 368,805 | ||||||
Omnicom Group, Inc. | 4,888 | 410,054 | ||||||
Paramount Global, Class B | 1,298 | 39,732 | ||||||
Playtika Holding Corp.* | 1,817 | 37,430 | ||||||
Sirius XM Holdings, Inc. (a) | 6,322 | 38,944 | ||||||
Take-Two Interactive Software, Inc.* | 421 | 68,202 | ||||||
Verizon Communications, Inc. | 1,565 | 83,994 | ||||||
Vimeo, Inc.* | 855 | 11,107 | ||||||
Walt Disney Co.* | 113 | 16,776 | ||||||
World Wrestling Entertainment, Inc., Class A (a) | 846 | 50,134 | ||||||
|
| |||||||
(Cost $4,084,370) | 4,353,137 | |||||||
|
| |||||||
Consumer Discretionary — 11.0% | ||||||||
Advance Auto Parts, Inc. | 3,418 | 698,913 | ||||||
Amazon.com, Inc.* | 19 | 58,354 | ||||||
Aptiv PLC* | 393 | 50,870 | ||||||
Aramark | 701 | 25,909 | ||||||
AutoNation, Inc.* | 2,191 | 251,220 | ||||||
AutoZone, Inc.* | 682 | 1,270,832 | ||||||
Bath & Body Works, Inc. | 246 | 13,129 | ||||||
Best Buy Co., Inc. | 8,513 | 822,696 | ||||||
Booking Holdings, Inc.* | 12 | 26,067 | ||||||
BorgWarner, Inc. | 1,354 | 55,528 | ||||||
Brunswick Corp. | 2,634 | 251,600 | ||||||
Burlington Stores, Inc.* | 64 | 14,457 | ||||||
CarMax, Inc.* | 1,298 | 141,910 | ||||||
Carter’s, Inc. | 1,443 | 139,509 |
Number | Value | |||||||
Consumer Discretionary (Continued) | ||||||||
Chipotle Mexican Grill, Inc.* | 79 | $ | 120,345 | |||||
Choice Hotels International, Inc. | 330 | 47,635 | ||||||
Churchill Downs, Inc. | 45 | 10,839 | ||||||
Columbia Sportswear Co. | 1,231 | 114,138 | ||||||
D.R. Horton, Inc. | 4,484 | 382,934 | ||||||
Darden Restaurants, Inc. | 498 | 72,320 | ||||||
Deckers Outdoor Corp.* | 482 | 139,124 | ||||||
Dick’s Sporting Goods, Inc. (a) | 1,978 | 207,690 | ||||||
Dollar General Corp. | 2,465 | 488,908 | ||||||
Dollar Tree, Inc.* | 4,328 | 614,922 | ||||||
Domino’s Pizza, Inc. | 746 | 322,429 | ||||||
DoorDash, Inc., Class A* | 71 | 7,451 | ||||||
eBay, Inc. | 14,917 | 814,319 | ||||||
Etsy, Inc.* | 146 | 22,614 | ||||||
Five Below, Inc.* | 511 | 83,605 | ||||||
Floor & Decor Holdings, Inc., Class A* | 577 | 55,173 | ||||||
Foot Locker, Inc. | 3,248 | 102,702 | ||||||
Ford Motor Co. | 20,885 | 366,741 | ||||||
Frontdoor, Inc.* | 292 | 8,775 | ||||||
Garmin Ltd. | 2,750 | 303,710 | ||||||
General Motors Co.* | 4,246 | 198,373 | ||||||
Gentex Corp. | 7,362 | 222,848 | ||||||
Genuine Parts Co. | 6,811 | 832,032 | ||||||
Grand Canyon Education, Inc.* | 741 | 64,341 | ||||||
H&R Block, Inc. | 7,532 | 186,869 | ||||||
Hanesbrands, Inc. | 4,712 | 72,800 | ||||||
Harley-Davidson, Inc. | 1,726 | 71,284 | ||||||
Hasbro, Inc. | 370 | 35,908 | ||||||
Hayward Holdings, Inc.*(a) | 550 | 9,839 | ||||||
Hilton Worldwide Holdings, Inc.* | 487 | 72,495 | ||||||
Home Depot, Inc. | 188 | 59,376 | ||||||
Kohl’s Corp. | 659 | 36,654 | ||||||
Lear Corp. | 390 | 61,363 | ||||||
Leggett & Platt, Inc. | 2,028 | 75,198 | ||||||
Lennar Corp., Class A | 3,785 | 340,196 | ||||||
Lennar Corp., Class B | 289 | 21,819 | ||||||
Lithia Motors, Inc. | 29 | 9,884 | ||||||
LKQ Corp. | 8,211 | 385,506 | ||||||
Lowe’s Cos., Inc. | 1,505 | 332,695 | ||||||
Lululemon Athletica, Inc.* | 241 | 77,106 | ||||||
Marriott International, Inc., Class A* | 184 | 31,306 | ||||||
Mattel, Inc.* | 1,861 | 46,488 | ||||||
McDonald’s Corp. | 335 | 81,998 | ||||||
Mister Car Wash, Inc.* | 1,197 | 19,176 | ||||||
Mohawk Industries, Inc.* | 1,015 | 142,892 | ||||||
Newell Brands, Inc. | 4,474 | 106,257 | ||||||
NIKE, Inc., Class B | 689 | 94,083 | ||||||
NVR, Inc.* | 51 | 252,880 | ||||||
Ollie’s Bargain Outlet Holdings, Inc.* | 440 | 18,999 | ||||||
O’Reilly Automotive, Inc.* | 1,234 | �� | 801,162 | |||||
Penske Automotive Group, Inc. | 919 | 90,329 | ||||||
Petco Health & Wellness Co., Inc.*(a) | 581 | 10,179 | ||||||
Polaris, Inc. (a) | 2,005 | 243,628 | ||||||
Pool Corp. | 1,033 | 473,713 | ||||||
PulteGroup, Inc. | 5,926 | 294,285 | ||||||
Qurate Retail, Inc., Series A | 3,006 | 16,563 | ||||||
Ralph Lauren Corp. | 303 | 40,008 |
See Notes to Financial Statements. | 40 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Consumer Discretionary (Continued) | ||||||||
Ross Stores, Inc. | 822 | $ | 75,123 | |||||
Service Corp. International | 6,003 | 365,283 | ||||||
Skechers U.S.A., Inc., Class A* | 1,346 | 61,889 | ||||||
Starbucks Corp. | 1,523 | 139,796 | ||||||
Tapestry, Inc. | 8,278 | 338,570 | ||||||
Target Corp. | 2,571 | 513,609 | ||||||
Tempur Sealy International, Inc. | 206 | 6,800 | ||||||
Terminix Global Holdings, Inc.* | 307 | 13,066 | ||||||
Thor Industries, Inc. (a) | 867 | 78,463 | ||||||
TJX Cos., Inc. | 1,751 | 115,741 | ||||||
Toll Brothers, Inc. | 1,942 | 105,373 | ||||||
TopBuild Corp.* | 311 | 66,765 | ||||||
Tractor Supply Co. | 4,294 | 875,074 | ||||||
Travel + Leisure Co. | 263 | 14,741 | ||||||
Ulta Beauty, Inc.* | 376 | 140,812 | ||||||
Vail Resorts, Inc. | 389 | 101,354 | ||||||
VF Corp. | 337 | 19,553 | ||||||
Victoria’s Secret & Co.* | 3,623 | 194,301 | ||||||
Whirlpool Corp. | 1,402 | 282,181 | ||||||
Williams-Sonoma, Inc. | 1,883 | 272,771 | ||||||
Wyndham Hotels & Resorts, Inc. | 172 | 14,863 | ||||||
YETI Holdings, Inc.* | 400 | 24,624 | ||||||
Yum China Holdings, Inc. | 870 | 45,257 | ||||||
Yum! Brands, Inc. | 1,773 | 217,334 | ||||||
|
| |||||||
(Cost $16,497,846) | 18,121,243 | |||||||
|
| |||||||
Consumer Staples — 5.5% | ||||||||
Albertsons Cos., Inc., Class A | 6,932 | 202,068 | ||||||
Altria Group, Inc. | 7,382 | 378,623 | ||||||
Archer-Daniels-Midland Co. | 1,878 | 147,329 | ||||||
Brown-Forman Corp., Class A | 225 | 13,734 | ||||||
Brown-Forman Corp., Class B | 514 | 33,528 | ||||||
Campbell Soup Co. | 1,641 | 73,796 | ||||||
Casey’s General Stores, Inc. | 813 | 152,909 | ||||||
Church & Dwight Co., Inc. | 2,727 | 266,837 | ||||||
Clorox Co. | 775 | 112,987 | ||||||
Coca-Cola Co. | 900 | 56,016 | ||||||
Colgate-Palmolive Co. | 2,257 | 173,676 | ||||||
Conagra Brands, Inc. | 3,500 | 122,395 | ||||||
Constellation Brands, Inc., Class A | 902 | 194,489 | ||||||
Costco Wholesale Corp. | 663 | 344,263 | ||||||
Darling Ingredients, Inc.* | 2,217 | 160,688 | ||||||
Estee Lauder Cos., Inc., Class A | 1,135 | 336,335 | ||||||
Flowers Foods, Inc. | 10,723 | 293,917 | ||||||
General Mills, Inc. | 4,642 | 313,010 | ||||||
Grocery Outlet Holding Corp.* | 337 | 9,372 | ||||||
Hain Celestial Group, Inc.* | 2,047 | 74,429 | ||||||
Herbalife Nutrition Ltd.* | 1,370 | 48,745 | ||||||
Hershey Co. | 2,146 | 434,050 | ||||||
Hormel Foods Corp. | 2,366 | 112,716 | ||||||
Ingredion, Inc. | 2,908 | 258,056 | ||||||
J M Smucker Co. | 3,018 | 406,675 | ||||||
Kellogg Co. | 3,455 | 220,913 | ||||||
Keurig Dr Pepper, Inc. | 2,479 | 95,863 | ||||||
Kimberly-Clark Corp. | 2,231 | 290,365 | ||||||
Kraft Heinz Co. | 3,187 | 124,994 | ||||||
Kroger Co. | 21,727 | 1,016,824 | ||||||
Lamb Weston Holdings, Inc. | 349 | 23,184 |
Number | Value | |||||||
Consumer Staples (Continued) | ||||||||
McCormick & Co., Inc. | 989 | $ | 94,123 | |||||
Molson Coors Beverage Co., Class B | 1,717 | 89,593 | ||||||
Mondelez International, Inc., Class A | 2,841 | 186,029 | ||||||
Monster Beverage Corp.* | 1,511 | 127,528 | ||||||
PepsiCo, Inc. | 534 | 87,437 | ||||||
Philip Morris International, Inc. | 2,385 | 241,052 | ||||||
Pilgrim’s Pride Corp.* | 2,622 | 61,827 | ||||||
Post Holdings, Inc.* | 975 | 102,511 | ||||||
Procter & Gamble Co. | 422 | 65,786 | ||||||
Seaboard Corp. | 13 | 50,173 | ||||||
Spectrum Brands Holdings, Inc. | 125 | 11,598 | ||||||
Sysco Corp. | 1,592 | 138,663 | ||||||
Tyson Foods, Inc., Class A | 8,236 | 763,148 | ||||||
Walgreens Boots Alliance, Inc. | 12,090 | 557,228 | ||||||
Walmart, Inc. | 258 | 34,871 | ||||||
|
| |||||||
(Cost $8,169,451) | 9,104,353 | |||||||
|
| |||||||
Energy — 1.4% | ||||||||
Antero Midstream Corp. (a) | 930 | 9,337 | ||||||
Baker Hughes Co. | 1,028 | 30,203 | ||||||
Cheniere Energy, Inc. | 2,214 | 294,241 | ||||||
Chevron Corp. | 410 | 59,040 | ||||||
ConocoPhillips | 998 | 94,670 | ||||||
Coterra Energy, Inc. | 7,972 | 185,987 | ||||||
Devon Energy Corp. | 268 | 15,959 | ||||||
DT Midstream, Inc. | 2,593 | 137,688 | ||||||
EOG Resources, Inc. | 2,617 | 300,746 | ||||||
EQT Corp. | 1,264 | 29,249 | ||||||
Exxon Mobil Corp. | 721 | 56,541 | ||||||
Hess Corp. | 115 | 11,622 | ||||||
HollyFrontier Corp.* | 439 | 13,368 | ||||||
Kinder Morgan, Inc. | 12,326 | 214,472 | ||||||
Marathon Oil Corp. | 1,341 | 30,253 | ||||||
Marathon Petroleum Corp. | 242 | 18,844 | ||||||
NOV, Inc. | 914 | 15,675 | ||||||
Occidental Petroleum Corp. | 646 | 28,250 | ||||||
ONEOK, Inc. | 1,211 | 79,078 | ||||||
Phillips 66 | 313 | 26,367 | ||||||
Pioneer Natural Resources Co. | 762 | 182,575 | ||||||
Schlumberger N.V. | 690 | 27,076 | ||||||
Texas Pacific Land Corp. | 66 | 78,456 | ||||||
Valero Energy Corp. | 437 | 36,494 | ||||||
Williams Cos., Inc. | 9,192 | 287,526 | ||||||
|
| |||||||
(Cost $1,755,646) | 2,263,717 | |||||||
|
| |||||||
Financials — 16.5% | ||||||||
Affiliated Managers Group, Inc. | 1,531 | 211,829 | ||||||
Aflac, Inc. | 8,439 | 515,539 | ||||||
AGNC Investment Corp. REIT (a) | 3,377 | 43,597 | ||||||
Alleghany Corp.* | 187 | 123,779 | ||||||
Allstate Corp. | 4,461 | 545,848 | ||||||
Ally Financial, Inc. | 3,420 | 170,658 | ||||||
American Express Co. | 698 | 135,789 | ||||||
American Financial Group, Inc. | 1,472 | 199,294 | ||||||
American International Group, Inc. | 349 | 21,373 | ||||||
Ameriprise Financial, Inc. | 1,290 | 386,729 | ||||||
Annaly Capital Management, Inc. REIT | 2,048 | 14,254 | ||||||
Aon PLC, Class A | 1,642 | 479,694 |
See Notes to Financial Statements. | 41 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Financials (Continued) | ||||||||
Apollo Global Management, Inc. | 1,820 | $ | 118,773 | |||||
Arch Capital Group Ltd.* | 11,019 | 519,105 | ||||||
Ares Management Corp., Class A | 869 | 70,467 | ||||||
Arthur J Gallagher & Co. | 2,270 | 359,091 | ||||||
Assurant, Inc. | 1,303 | 221,132 | ||||||
Assured Guaranty Ltd. | 2,878 | 178,350 | ||||||
Axis Capital Holdings Ltd. | 592 | 32,335 | ||||||
Bank of America Corp. | 1,000 | 44,200 | ||||||
Bank of Hawaii Corp. | 423 | 36,454 | ||||||
Bank of New York Mellon Corp. | 5,663 | 300,988 | ||||||
Bank OZK | 1,961 | 92,206 | ||||||
Berkshire Hathaway, Inc., Class B* | 502 | 161,368 | ||||||
BlackRock, Inc. | 130 | 96,706 | ||||||
Blackstone, Inc. | 1,296 | 165,201 | ||||||
BOK Financial Corp. | 304 | 31,221 | ||||||
Brighthouse Financial, Inc.* | 360 | 18,814 | ||||||
Brown & Brown, Inc. | 5,887 | 398,020 | ||||||
Capital One Financial Corp. | 3,107 | 476,210 | ||||||
Carlyle Group, Inc. | 1,243 | 58,259 | ||||||
Cboe Global Markets, Inc. | 5,844 | 685,443 | ||||||
Charles Schwab Corp. | 894 | 75,507 | ||||||
Chubb Ltd. | 1,519 | 309,329 | ||||||
Cincinnati Financial Corp. | 5,274 | 647,594 | ||||||
Citigroup, Inc. | 456 | 27,009 | ||||||
Citizens Financial Group, Inc. | 2,154 | 112,913 | ||||||
CME Group, Inc. | 551 | 130,328 | ||||||
CNA Financial Corp. | 634 | 28,974 | ||||||
Comerica, Inc. | 1,523 | 145,431 | ||||||
Commerce Bancshares, Inc. | 1,302 | 93,458 | ||||||
Credit Acceptance Corp.*(a) | 369 | 202,994 | ||||||
Cullen/Frost Bankers, Inc. | 867 | 122,013 | ||||||
Discover Financial Services | 1,068 | 131,834 | ||||||
East West Bancorp, Inc. | 2,068 | 181,074 | ||||||
Equitable Holdings, Inc. | 932 | 30,439 | ||||||
Erie Indemnity Co., Class A | 308 | 53,931 | ||||||
Evercore, Inc., Class A | 2,982 | 378,744 | ||||||
Everest Re Group Ltd. | 915 | 272,871 | ||||||
FactSet Research Systems, Inc. | 958 | 389,034 | ||||||
Fidelity National Financial, Inc. | 11,511 | 548,384 | ||||||
Fifth Third Bancorp | 2,866 | 137,109 | ||||||
First American Financial Corp. | 7,687 | 515,336 | ||||||
First Citizens BancShares, Inc., Class A | 90 | 70,960 | ||||||
First Hawaiian, Inc. | 1,882 | 54,710 | ||||||
First Horizon Corp. | 8,101 | 190,211 | ||||||
First Republic Bank | 796 | 137,915 | ||||||
FNB Corp. | 4,718 | 63,363 | ||||||
Franklin Resources, Inc. | 15,544 | 462,123 | ||||||
Globe Life, Inc. | 1,786 | 180,315 | ||||||
Goldman Sachs Group, Inc. | 185 | 63,139 | ||||||
Hanover Insurance Group, Inc. | 1,226 | 171,039 | ||||||
Hartford Financial Services Group, Inc. | 7,491 | 520,475 | ||||||
Huntington Bancshares, Inc. | 8,346 | 129,530 | ||||||
Interactive Brokers Group, Inc., Class A | 1,530 | 101,255 | ||||||
Intercontinental Exchange, Inc. | 989 | 126,711 | ||||||
Invesco Ltd. | 8,638 | 183,471 | ||||||
Janus Henderson Group PLC | 4,361 | 146,399 | ||||||
Jefferies Financial Group, Inc. | 8,064 | 286,595 |
Number | Value | |||||||
Financials (Continued) | ||||||||
Kemper Corp. | 498 | $ | 26,613 | |||||
KeyCorp | 8,056 | 201,964 | ||||||
KKR & Co., Inc. | 813 | 48,878 | ||||||
Lazard Ltd., Class A | 5,940 | 205,405 | ||||||
Lincoln National Corp. | 1,230 | 82,927 | ||||||
Loews Corp. | 1,422 | 87,225 | ||||||
LPL Financial Holdings, Inc. | 2,617 | 473,546 | ||||||
M&T Bank Corp. | 1,202 | 219,040 | ||||||
Markel Corp.* | 261 | 324,400 | ||||||
MarketAxess Holdings, Inc. | 49 | 18,690 | ||||||
Marsh & McLennan Cos., Inc. | 2,790 | 433,594 | ||||||
Mercury General Corp. | 1,284 | 70,620 | ||||||
MetLife, Inc. | 4,850 | 327,618 | ||||||
MGIC Investment Corp. | 9,701 | 147,261 | ||||||
Moody’s Corp. | 853 | 274,692 | ||||||
Morgan Stanley | 1,007 | 91,375 | ||||||
Morningstar, Inc. | 702 | 197,016 | ||||||
MSCI, Inc. | 611 | 306,533 | ||||||
Nasdaq, Inc. | 2,126 | 363,865 | ||||||
New York Community Bancorp, Inc. | 7,326 | 84,542 | ||||||
Northern Trust Corp. | 1,753 | 199,667 | ||||||
Old Republic International Corp. | 17,860 | 470,611 | ||||||
OneMain Holdings, Inc. | 487 | 24,827 | ||||||
People’s United Financial, Inc. | 7,752 | 163,412 | ||||||
Pinnacle Financial Partners, Inc. | 1,150 | 116,242 | ||||||
PNC Financial Services Group, Inc. | 697 | 138,877 | ||||||
Popular, Inc. | 1,648 | 151,369 | ||||||
Primerica, Inc. | 981 | 127,422 | ||||||
Principal Financial Group, Inc. | 4,434 | 313,218 | ||||||
Progressive Corp. | 5,092 | 539,396 | ||||||
Prosperity Bancshares, Inc. | 1,347 | 100,298 | ||||||
Prudential Financial, Inc. | 2,548 | 284,510 | ||||||
Raymond James Financial, Inc. | 6,486 | 711,190 | ||||||
Regions Financial Corp. | 7,944 | 192,165 | ||||||
Reinsurance Group of America, Inc. | 492 | 54,543 | ||||||
RenaissanceRe Holdings Ltd. | 891 | 134,345 | ||||||
S&P Global, Inc. (a) | 1,242 | 466,619 | ||||||
SEI Investments Co. | 4,115 | 241,057 | ||||||
Signature Bank | 425 | 146,578 | ||||||
SLM Corp. | 10,025 | 197,493 | ||||||
Starwood Property Trust, Inc. REIT | 5,532 | 131,883 | ||||||
State Street Corp. | 2,752 | 234,828 | ||||||
Stifel Financial Corp. | 3,156 | 231,966 | ||||||
SVB Financial Group* | 177 | 107,262 | ||||||
Synchrony Financial | 9,990 | 427,372 | ||||||
Synovus Financial Corp. | 1,093 | 57,546 | ||||||
T. Rowe Price Group, Inc. | 3,628 | 524,464 | ||||||
Tradeweb Markets, Inc., Class A | 1,219 | 102,981 | ||||||
Travelers Cos., Inc. | 2,302 | 395,553 | ||||||
Truist Financial Corp. | 2,937 | 182,740 | ||||||
Unum Group | 2,727 | 76,138 | ||||||
Upstart Holdings, Inc.*(a) | 220 | 34,758 | ||||||
US Bancorp | 2,533 | 143,216 | ||||||
Virtu Financial, Inc., Class A | 3,522 | 123,552 | ||||||
Voya Financial, Inc. | 1,697 | 114,293 | ||||||
W.R. Berkley Corp. | 2,955 | 266,836 | ||||||
Webster Financial Corp. | 1,830 | 110,184 |
See Notes to Financial Statements. | 42 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Financials (Continued) | ||||||||
Wells Fargo & Co. | 1,052 | $ | 56,145 | |||||
Western Alliance Bancorp | 941 | 88,209 | ||||||
White Mountains Insurance Group Ltd. | 198 | 207,940 | ||||||
Willis Towers Watson PLC | 1,067 | 237,194 | ||||||
Wintrust Financial Corp. | 161 | 15,997 | ||||||
Zions Bancorp NA | 2,817 | 199,697 | ||||||
|
| |||||||
(Cost $24,036,881) | 27,165,640 | |||||||
|
| |||||||
Health Care — 9.8% | ||||||||
Abbott Laboratories | 680 | 82,022 | ||||||
AbbVie, Inc. | 127 | 18,767 | ||||||
ABIOMED, Inc.* | 242 | 75,199 | ||||||
Agilent Technologies, Inc. | 2,761 | 359,924 | ||||||
Align Technology, Inc.* | 122 | 62,398 | ||||||
AmerisourceBergen Corp. | 667 | 95,067 | ||||||
Amgen, Inc. | 633 | 143,362 | ||||||
Anthem, Inc. | 1,653 | 746,908 | ||||||
Avantor, Inc.* | 1,785 | 61,922 | ||||||
Baxter International, Inc. | 1,804 | 153,286 | ||||||
Becton Dickinson and Co. | 620 | 168,194 | ||||||
Biogen, Inc.* | 640 | 135,046 | ||||||
BioMarin Pharmaceutical, Inc.* | 178 | 13,905 | ||||||
Bio-Rad Laboratories, Inc., Class A* | 816 | 510,783 | ||||||
Bio-Techne Corp. | 792 | 332,173 | ||||||
Boston Scientific Corp.* | 2,124 | 93,817 | ||||||
Bristol-Myers Squibb Co. | 1,069 | 73,408 | ||||||
Bruker Corp. | 1,694 | 119,207 | ||||||
Cardinal Health, Inc. | 2,701 | 145,881 | ||||||
Catalent, Inc.* | 699 | 71,326 | ||||||
Centene Corp.* | 1,324 | 109,389 | ||||||
Cerner Corp. | 3,211 | 299,426 | ||||||
Charles River Laboratories International, Inc.* | 501 | 145,871 | ||||||
Chemed Corp. | 314 | 150,183 | ||||||
Cigna Corp. | 1,870 | 444,649 | ||||||
Cooper Cos., Inc. | 926 | 378,752 | ||||||
CVS Health Corp. | 5,031 | 521,463 | ||||||
Danaher Corp. | 101 | 27,715 | ||||||
DaVita, Inc.* | 671 | 75,669 | ||||||
DENTSPLY SIRONA, Inc. | 946 | 51,216 | ||||||
Dexcom, Inc.* | 67 | 27,732 | ||||||
Edwards Lifesciences Corp.* | 2,318 | 260,474 | ||||||
Eli Lilly & Co. | 452 | 112,977 | ||||||
Encompass Health Corp. | 550 | 36,311 | ||||||
Envista Holdings Corp.* | 929 | 44,592 | ||||||
Exelixis, Inc.* | 940 | 19,298 | ||||||
Figs, Inc., Class A* | 1,421 | 23,347 | ||||||
Gilead Sciences, Inc. | 2,449 | 147,920 | ||||||
Globus Medical, Inc., Class A* | 1,073 | 75,453 | ||||||
HCA Healthcare, Inc. | 1,064 | 266,330 | ||||||
Henry Schein, Inc.* | 5,346 | 461,787 | ||||||
Hologic, Inc.* | 4,674 | 332,648 | ||||||
Horizon Therapeutics PLC* | 1,352 | 123,262 | ||||||
Humana, Inc. | 1,425 | 618,906 | ||||||
ICU Medical, Inc.* | 497 | 117,655 | ||||||
IDEXX Laboratories, Inc.* | 436 | 232,105 | ||||||
Illumina, Inc.* | 209 | 68,259 | ||||||
Insulet Corp.* | 103 | 27,263 |
Number | Value | |||||||
Health Care (Continued) | ||||||||
Integra LifeSciences Holdings Corp.* | 695 | $ | 46,607 | |||||
Intuitive Surgical, Inc.* | 451 | 130,939 | ||||||
IQVIA Holdings, Inc.* | 731 | 168,218 | ||||||
Jazz Pharmaceuticals PLC* | 535 | 73,520 | ||||||
Johnson & Johnson | 263 | 43,282 | ||||||
Laboratory Corp. of America Holdings* | 2,172 | 589,177 | ||||||
Masimo Corp.* | 578 | 91,006 | ||||||
McKesson Corp. | 2,309 | 634,883 | ||||||
Medtronic PLC | 625 | 65,619 | ||||||
Merck & Co., Inc. | 1,214 | 92,968 | ||||||
Mettler-Toledo International, Inc.* | 238 | 335,280 | ||||||
Molina Healthcare, Inc.* | 1,475 | 452,633 | ||||||
Neurocrine Biosciences, Inc.* | 341 | 30,646 | ||||||
Organon & Co. | 15,359 | 573,351 | ||||||
PerkinElmer, Inc. | 1,826 | 327,968 | ||||||
Perrigo Co. PLC | 941 | 33,424 | ||||||
Pfizer, Inc. | 1,582 | 74,259 | ||||||
Premier, Inc., Class A | 6,150 | 221,031 | ||||||
QIAGEN NV* | 2,075 | 103,107 | ||||||
Quest Diagnostics, Inc. | 4,706 | 617,757 | ||||||
Quidel Corp.* | 78 | 8,252 | ||||||
Regeneron Pharmaceuticals, Inc.* | 594 | 367,306 | ||||||
Repligen Corp.* | 206 | 40,520 | ||||||
ResMed, Inc. | 928 | 228,984 | ||||||
Royalty Pharma PLC, Class A | 772 | 30,309 | ||||||
Seagen, Inc.* | 227 | 29,253 | ||||||
STERIS PLC | 740 | 177,600 | ||||||
Stryker Corp. | 312 | 82,165 | ||||||
Syneos Health, Inc.* | 451 | 35,719 | ||||||
Teleflex, Inc. | 65 | 21,860 | ||||||
Thermo Fisher Scientific, Inc. | 183 | 99,552 | ||||||
United Therapeutics Corp.* | 2,143 | 356,167 | ||||||
UnitedHealth Group, Inc. | 168 | 79,946 | ||||||
Universal Health Services, Inc., Class B | 929 | 133,711 | ||||||
Veeva Systems, Inc., Class A* | 403 | 92,307 | ||||||
Vertex Pharmaceuticals, Inc.* | 436 | 100,289 | ||||||
Waters Corp.* | 1,067 | 337,951 | ||||||
West Pharmaceutical Services, Inc. | 1,048 | 405,660 | ||||||
Zimmer Biomet Holdings, Inc. | 223 | 28,363 | ||||||
Zoetis, Inc. | 866 | 167,701 | ||||||
|
| |||||||
(Cost $14,018,660) | 16,192,537 | |||||||
|
| |||||||
Industrials — 15.6% | ||||||||
3M Co. | 1,157 | 171,988 | ||||||
A O Smith Corp. | 6,776 | 464,698 | ||||||
Acuity Brands, Inc. | 1,691 | 308,388 | ||||||
Advanced Drainage Systems, Inc. | 1,385 | 161,657 | ||||||
AECOM | 6,215 | 451,582 | ||||||
AGCO Corp. | 1,825 | 219,292 | ||||||
Allegion PLC | 1,516 | 173,612 | ||||||
Allison Transmission Holdings, Inc. | 989 | 39,501 | ||||||
AMERCO | 516 | 298,047 | ||||||
AMETEK, Inc. | 1,937 | 251,403 | ||||||
Armstrong World Industries, Inc. | 330 | 29,172 | ||||||
Axon Enterprise, Inc.* | 109 | 15,287 | ||||||
AZEK Co., Inc.* | 719 | 21,203 | ||||||
Booz Allen Hamilton Holding Corp. | 1,860 | 150,083 | ||||||
Builders FirstSource, Inc.* | 650 | 48,373 |
See Notes to Financial Statements. | 43 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Industrials (Continued) | ||||||||
BWX Technologies, Inc. | 709 | $ | 37,875 | |||||
C.H. Robinson Worldwide, Inc. | 2,225 | 215,113 | ||||||
CACI International, Inc., Class A* | 1,431 | 400,379 | ||||||
Carlisle Cos., Inc. | 1,717 | 407,616 | ||||||
Carrier Global Corp. | 8,372 | 375,735 | ||||||
Caterpillar, Inc. | 339 | 63,590 | ||||||
Cintas Corp. | 552 | 207,177 | ||||||
Clean Harbors, Inc.* | 1,065 | 101,633 | ||||||
Colfax Corp.* | 706 | 28,388 | ||||||
Copart, Inc.* | 2,031 | 249,569 | ||||||
Core & Main, Inc., Class A* | 375 | 8,430 | ||||||
CoStar Group, Inc.* | 572 | 34,898 | ||||||
Crane Co. | 994 | 100,474 | ||||||
CSX Corp. | 4,493 | 152,358 | ||||||
Cummins, Inc. | 1,296 | 264,540 | ||||||
Curtiss-Wright Corp. | 629 | 92,790 | ||||||
Deere & Co. | 587 | 211,332 | ||||||
Donaldson Co., Inc. | 3,545 | 192,387 | ||||||
Dover Corp. | 1,949 | 305,720 | ||||||
Eaton Corp. PLC | 2,050 | 316,295 | ||||||
Emerson Electric Co. | 3,550 | 329,866 | ||||||
Equifax, Inc. | 902 | 196,943 | ||||||
Expeditors International of Washington, Inc. | 5,455 | 563,829 | ||||||
Fastenal Co. | 7,369 | 379,209 | ||||||
FedEx Corp. | 663 | 147,365 | ||||||
Flowserve Corp. | 672 | 20,409 | ||||||
Fluence Energy, Inc.* | 481 | 6,508 | ||||||
Fortive Corp. | 2,269 | 146,918 | ||||||
Fortune Brands Home & Security, Inc. | 1,666 | 144,775 | ||||||
FTI Consulting, Inc.* | 2,404 | 350,984 | ||||||
Gates Industrial Corp. PLC*(a) | 698 | 11,056 | ||||||
Generac Holdings, Inc.* | 677 | 213,573 | ||||||
General Dynamics Corp. | 2,278 | 534,077 | ||||||
General Electric Co. | 589 | 56,255 | ||||||
Graco, Inc. | 2,651 | 191,111 | ||||||
GXO Logistics, Inc.* | 988 | 82,923 | ||||||
HEICO Corp. (a) | 175 | 25,814 | ||||||
HEICO Corp., Class A | 327 | 40,195 | ||||||
Hexcel Corp. | 326 | 18,875 | ||||||
Honeywell International, Inc. | 418 | 79,315 | ||||||
Hubbell, Inc. | 1,486 | 264,879 | ||||||
Huntington Ingalls Industries, Inc. | 1,708 | 349,115 | ||||||
IAA, Inc.* | 345 | 12,675 | ||||||
IDEX Corp. | 951 | 182,497 | ||||||
Illinois Tool Works, Inc. | 921 | 199,249 | ||||||
ITT, Inc. | 2,379 | 209,043 | ||||||
Jacobs Engineering Group, Inc. | 1,606 | 197,538 | ||||||
JB Hunt Transport Services, Inc. | 2,750 | 558,058 | ||||||
Johnson Controls International PLC | 7,057 | 458,423 | ||||||
Kirby Corp.* | 441 | 28,731 | ||||||
Knight-Swift Transportation Holdings, Inc. | 8,638 | 470,598 | ||||||
L3Harris Technologies, Inc. | 1,804 | 455,167 | ||||||
Landstar System, Inc. | 1,715 | 264,813 | ||||||
Leidos Holdings, Inc. | 1,330 | 135,447 | ||||||
Lennox International, Inc. | 843 | 225,022 |
Number | Value | |||||||
Industrials (Continued) | ||||||||
Lincoln Electric Holdings, Inc. | 1,439 | $ | 183,415 | |||||
Lockheed Martin Corp. | 755 | 327,519 | ||||||
ManpowerGroup, Inc. | 1,740 | 184,927 | ||||||
Masco Corp. | 7,732 | 433,301 | ||||||
MasTec, Inc.* | 1,453 | 114,438 | ||||||
MDU Resources Group, Inc. | 6,280 | 168,116 | ||||||
Middleby Corp.* | 632 | 112,256 | ||||||
MSA Safety, Inc. | 523 | 72,749 | ||||||
MSC Industrial Direct Co., Inc., Class A | 1,001 | 77,557 | ||||||
Nielsen Holdings PLC | 4,743 | 82,623 | ||||||
Nordson Corp. | 818 | 185,269 | ||||||
Norfolk Southern Corp. | 721 | 184,951 | ||||||
Northrop Grumman Corp. | 1,119 | 494,755 | ||||||
nVent Electric PLC | 2,265 | 76,851 | ||||||
Old Dominion Freight Line, Inc. | 1,159 | 363,961 | ||||||
Oshkosh Corp. | 4,479 | 497,348 | ||||||
Otis Worldwide Corp. | 6,060 | 474,680 | ||||||
Owens Corning | 1,643 | 153,111 | ||||||
PACCAR, Inc. | 1,288 | 118,251 | ||||||
Parker-Hannifin Corp. | 750 | 222,293 | ||||||
Pentair PLC | 5,809 | 336,399 | ||||||
Quanta Services, Inc. | 6,850 | 746,239 | ||||||
Raytheon Technologies Corp. | 116 | 11,913 | ||||||
Regal Rexnord Corp. | 1,490 | 238,922 | ||||||
Republic Services, Inc. | 2,583 | 310,683 | ||||||
Robert Half International, Inc. | 4,529 | 544,793 | ||||||
Rockwell Automation, Inc. | 466 | 124,226 | ||||||
Rollins, Inc. | 1,431 | 46,694 | ||||||
Roper Technologies, Inc. | 395 | 177,047 | ||||||
Ryder System, Inc. | 2,160 | 170,294 | ||||||
Schneider National, Inc., Class B | 3,985 | 104,088 | ||||||
Science Applications International Corp. | 932 | 81,727 | ||||||
Sensata Technologies Holding PLC* | 1,647 | 95,378 | ||||||
Shoals Technologies Group, Inc., Class A*(a) | 1,579 | 24,964 | ||||||
SiteOne Landscape Supply, Inc.* | 723 | 124,667 | ||||||
Snap-on, Inc. | 2,326 | 488,879 | ||||||
Stanley Black & Decker, Inc. | 877 | 142,688 | ||||||
Stericycle, Inc.* | 625 | 36,475 | ||||||
Textron, Inc. | 2,915 | 213,174 | ||||||
Timken Co. | 559 | 36,648 | ||||||
Toro Co. | 2,266 | 212,573 | ||||||
Trane Technologies PLC | 1,811 | 278,767 | ||||||
TransDigm Group, Inc.* | 30 | 19,998 | ||||||
TransUnion | 1,131 | 102,650 | ||||||
Trex Co., Inc.* | 1,117 | 102,585 | ||||||
Union Pacific Corp. | 528 | 129,862 | ||||||
United Parcel Service, Inc., Class B | 942 | 198,216 | ||||||
United Rentals, Inc.* | 502 | 161,453 | ||||||
Univar Solutions, Inc.* | 1,039 | 31,908 | ||||||
Valmont Industries, Inc. | 1,038 | 224,675 | ||||||
Verisk Analytics, Inc. | 693 | 122,897 | ||||||
Vertiv Holdings Co. | 4,220 | 54,944 | ||||||
W.W. Grainger, Inc. | 604 | 288,144 | ||||||
Waste Management, Inc. | 2,022 | 291,977 | ||||||
Watsco, Inc. | 1,765 | 481,951 | ||||||
Westinghouse Air Brake Technologies Corp. | 1,537 | 142,664 |
See Notes to Financial Statements. | 44 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Industrials (Continued) | ||||||||
Woodward, Inc. | 494 | $ | 61,567 | |||||
XPO Logistics, Inc.* | 620 | 45,062 | ||||||
Xylem, Inc. | 1,727 | 153,617 | ||||||
|
| |||||||
(Cost $22,679,980) | 25,811,619 | |||||||
|
| |||||||
Information Technology — 19.4% | ||||||||
Accenture PLC, Class A | 532 | 168,123 | ||||||
Adobe, Inc.* | 267 | 124,871 | ||||||
Advanced Micro Devices, Inc.* | 3,307 | 407,885 | ||||||
Akamai Technologies, Inc.* | 3,127 | 338,529 | ||||||
Allegro MicroSystems, Inc.* | 1,017 | 29,157 | ||||||
Amdocs Ltd. | 10,089 | 794,004 | ||||||
Amphenol Corp., Class A | 7,335 | 557,533 | ||||||
Analog Devices, Inc. | 203 | 32,539 | ||||||
ANSYS, Inc.* | 688 | 223,043 | ||||||
Apple, Inc. | 2,470 | 407,846 | ||||||
Applied Materials, Inc. | 4,673 | 627,117 | ||||||
Arista Networks, Inc.* | 1,557 | 191,091 | ||||||
Arrow Electronics, Inc.* | 5,426 | 661,321 | ||||||
Aspen Technology, Inc.* | 2,417 | 368,375 | ||||||
Atlassian Corp. PLC, Class A* | 713 | 217,978 | ||||||
Autodesk, Inc.* | 935 | 205,915 | ||||||
Automatic Data Processing, Inc. | 1,451 | 296,642 | ||||||
Avnet, Inc. | 3,571 | 150,232 | ||||||
Azenta, Inc. | 584 | 51,112 | ||||||
Bentley Systems, Inc., Class B (a) | 1,848 | 70,945 | ||||||
Black Knight, Inc.* | 317 | 17,812 | ||||||
Broadcom, Inc. | 228 | 133,936 | ||||||
Broadridge Financial Solutions, Inc. | 2,003 | 292,859 | ||||||
Cadence Design Systems, Inc.* | 3,967 | 600,723 | ||||||
CDK Global, Inc. | 1,767 | 80,116 | ||||||
CDW Corp. | 4,501 | 776,242 | ||||||
Ceridian HCM Holding, Inc.* | 175 | 12,759 | ||||||
Ciena Corp.* | 3,245 | 222,023 | ||||||
Cirrus Logic, Inc.* | 2,427 | 210,833 | ||||||
Cisco Systems, Inc. | 3,269 | 182,312 | ||||||
Citrix Systems, Inc. | 1,034 | 105,985 | ||||||
Cognex Corp. | 990 | 66,884 | ||||||
Cognizant Technology Solutions Corp., Class A | 8,681 | 747,695 | ||||||
Coherent, Inc.* | 92 | 24,317 | ||||||
Concentrix Corp. | 309 | 61,766 | ||||||
Corning, Inc. | 6,232 | 251,773 | ||||||
Dell Technologies, Inc., Class C* | 14,049 | 715,937 | ||||||
DocuSign, Inc.* | 98 | 11,606 | ||||||
Dolby Laboratories, Inc., Class A | 2,527 | 189,778 | ||||||
DoubleVerify Holdings, Inc.* | 1,103 | 30,498 | ||||||
Dropbox, Inc., Class A* | 5,003 | 113,518 | ||||||
DXC Technology Co.* | 1,035 | 35,221 | ||||||
Dynatrace, Inc.* | 302 | 13,415 | ||||||
Elastic NV* | 115 | 9,965 | ||||||
Entegris, Inc. | 3,418 | 445,981 | ||||||
EPAM Systems, Inc.* | 1,567 | 325,544 | ||||||
F5, Inc.* | 3,394 | 681,685 | ||||||
Fair Isaac Corp.* | 66 | 31,099 | ||||||
Fidelity National Information Services, Inc. | 255 | 24,284 | ||||||
First Solar, Inc.* | 369 | 27,782 |
Number | Value | |||||||
Information Technology (Continued) | ||||||||
Fiserv, Inc.* | 549 | $ | 53,621 | |||||
FleetCor Technologies, Inc.* | 231 | 54,100 | ||||||
Fortinet, Inc.* | 1,914 | 659,411 | ||||||
Gartner, Inc.* | 2,338 | 655,622 | ||||||
Genpact Ltd. | 4,268 | 178,573 | ||||||
Global Payments, Inc. | 129 | 17,206 | ||||||
Globant SA* | 354 | 96,996 | ||||||
GoDaddy, Inc., Class A* | 465 | 38,786 | ||||||
Guidewire Software, Inc.* | 485 | 42,753 | ||||||
Hewlett Packard Enterprise Co. | 59,578 | 948,482 | ||||||
HP, Inc. | 53,339 | 1,832,728 | ||||||
HubSpot, Inc.* | 91 | 47,775 | ||||||
Intel Corp. | 8,225 | 392,332 | ||||||
International Business Machines Corp. | 3,222 | 394,727 | ||||||
Intuit, Inc. | 351 | 166,504 | ||||||
IPG Photonics Corp.* | 148 | 19,292 | ||||||
Jabil, Inc. | 11,058 | 639,263 | ||||||
Jack Henry & Associates, Inc. | 920 | 162,656 | ||||||
Juniper Networks, Inc. | 11,478 | 387,842 | ||||||
Keysight Technologies, Inc.* | 2,780 | 437,489 | ||||||
KLA Corp. | 2,222 | 774,367 | ||||||
Kyndryl Holdings, Inc.* | 17,385 | 275,726 | ||||||
Lam Research Corp. | 660 | 370,491 | ||||||
Littelfuse, Inc. | 331 | 85,467 | ||||||
Lumentum Holdings, Inc.* | 497 | 49,133 | ||||||
Manhattan Associates, Inc.* | 1,332 | 178,062 | ||||||
Marvell Technology, Inc. | 4,350 | 297,235 | ||||||
Mastercard, Inc., Class A | 80 | 28,866 | ||||||
McAfee Corp., Class A | 1,572 | 40,856 | ||||||
Microchip Technology, Inc. | 1,744 | 122,655 | ||||||
Micron Technology, Inc. | 4,084 | 362,904 | ||||||
Microsoft Corp. | 1,573 | 469,997 | ||||||
MKS Instruments, Inc. | 635 | 95,631 | ||||||
Monolithic Power Systems, Inc. | 1,235 | 566,494 | ||||||
Motorola Solutions, Inc. | 1,623 | 357,758 | ||||||
National Instruments Corp. | 4,318 | 173,368 | ||||||
NCR Corp.* | 1,784 | 72,288 | ||||||
NetApp, Inc. | 9,578 | 750,724 | ||||||
New Relic, Inc.* | 100 | 6,624 | ||||||
NortonLifeLock, Inc. | 10,693 | 309,883 | ||||||
Nuance Communications, Inc.* | 1,373 | 76,229 | ||||||
NVIDIA Corp. | 67 | 16,338 | ||||||
NXP Semiconductors NV | 1,349 | 256,472 | ||||||
ON Semiconductor Corp.* | 705 | 44,140 | ||||||
Oracle Corp. | 2,073 | 157,486 | ||||||
Palo Alto Networks, Inc.* | 336 | 199,668 | ||||||
Paychex, Inc. | 3,233 | 384,921 | ||||||
Paycom Software, Inc.* | 257 | 87,177 | ||||||
Paycor HCM, Inc.* | 395 | 11,088 | ||||||
Paylocity Holding Corp.* | 249 | 52,898 | ||||||
PayPal Holdings, Inc.* | 102 | 11,417 | ||||||
Procore Technologies, Inc.* | 641 | 41,787 | ||||||
PTC, Inc.* | 800 | 89,024 | ||||||
Qorvo, Inc.* | 1,992 | 272,466 | ||||||
QUALCOMM, Inc. | 1,385 | 238,206 | ||||||
salesforce.com, Inc.* | 428 | 90,107 | ||||||
ServiceNow, Inc.* | 235 | 136,281 |
See Notes to Financial Statements. | 45 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Information Technology (Continued) | ||||||||
Skyworks Solutions, Inc. | 3,652 | $ | 504,597 | |||||
SolarWinds Corp. | 835 | 11,314 | ||||||
SS&C Technologies Holdings, Inc. | 3,030 | 227,159 | ||||||
Switch, Inc., Class A | 3,543 | 92,189 | ||||||
Synopsys, Inc.* | 2,467 | 770,666 | ||||||
TD SYNNEX Corp. | 3,258 | 331,762 | ||||||
Teledyne Technologies, Inc.* | 373 | 160,159 | ||||||
Teradata Corp.* | 3,264 | 163,167 | ||||||
Teradyne, Inc. | 3,203 | 377,698 | ||||||
Texas Instruments, Inc. | 1,946 | 330,801 | ||||||
Thoughtworks Holding, Inc.* | 684 | 15,636 | ||||||
Trimble, Inc.* | 1,726 | 120,388 | ||||||
Tyler Technologies, Inc.* | 935 | 400,423 | ||||||
VeriSign, Inc.* | 2,021 | 431,928 | ||||||
Viasat, Inc.* | 1,813 | 82,745 | ||||||
Visa, Inc., Class A | 130 | 28,096 | ||||||
VMware, Inc., Class A | 1,026 | 120,370 | ||||||
Vontier Corp. | 3,817 | 92,753 | ||||||
Western Digital Corp.* | 1,621 | 82,574 | ||||||
Western Union Co. | 2,635 | 47,904 | ||||||
Workday, Inc., Class A* | 587 | 134,452 | ||||||
Xerox Holdings Corp. | 945 | 18,626 | ||||||
Zebra Technologies Corp., Class A* | 548 | 226,510 | ||||||
|
| |||||||
(Cost $28,541,037) | 31,920,915 | |||||||
|
| |||||||
Materials — 6.2% | ||||||||
Air Products and Chemicals, Inc. | 789 | 186,441 | ||||||
Albemarle Corp. | 633 | 123,998 | ||||||
Alcoa Corp. | 1,052 | 79,258 | ||||||
Amcor PLC | 15,211 | 176,904 | ||||||
AptarGroup, Inc. | 870 | 106,036 | ||||||
Ardagh Metal Packaging SA*(a) | 2,752 | 22,869 | ||||||
Ashland Global Holdings, Inc. | 2,240 | 206,707 | ||||||
Avery Dennison Corp. | 1,786 | 314,693 | ||||||
Axalta Coating Systems Ltd.* | 1,875 | 50,700 | ||||||
Ball Corp. | 1,141 | 102,393 | ||||||
Berry Global Group, Inc.* | 4,392 | 266,375 | ||||||
Celanese Corp. | 3,082 | 429,261 | ||||||
CF Industries Holdings, Inc. | 4,186 | 339,861 | ||||||
Chemours Co. | 988 | 27,269 | ||||||
Corteva, Inc. | 7,392 | 384,606 | ||||||
Crown Holdings, Inc. | 1,928 | 236,508 | ||||||
Diversey Holdings Ltd.* | 754 | 7,216 | ||||||
Dow, Inc. | 2,160 | 127,354 | ||||||
DuPont de Nemours, Inc. | 1,058 | 81,857 | ||||||
Eagle Materials, Inc. | 2,525 | 345,496 | ||||||
Eastman Chemical Co. | 1,745 | 206,730 | ||||||
Ecolab, Inc. | 608 | 107,166 | ||||||
Element Solutions, Inc. | 3,442 | 84,604 | ||||||
FMC Corp. | 669 | 78,440 | ||||||
Freeport-McMoRan, Inc. | 1,788 | 83,947 | ||||||
Graphic Packaging Holding Co. | 12,632 | 259,967 | ||||||
Huntsman Corp. | 5,741 | 232,166 | ||||||
International Flavors & Fragrances, Inc. | 1,137 | 151,221 | ||||||
International Paper Co. | 6,225 | 270,974 | ||||||
Louisiana-Pacific Corp. | 5,128 | 368,960 | ||||||
LyondellBasell Industries NV, Class A | 591 | 57,463 | ||||||
Martin Marietta Materials, Inc. | 801 | 303,899 |
Number | Value | |||||||
Materials (Continued) | ||||||||
Mosaic Co. | 3,811 | $ | 199,811 | |||||
NewMarket Corp. (a) | 108 | 34,318 | ||||||
Newmont Corp. | 4,671 | 309,220 | ||||||
Nucor Corp. | 5,283 | 695,348 | ||||||
Olin Corp. | 638 | 32,863 | ||||||
Packaging Corp. of America | 1,286 | 189,286 | ||||||
PPG Industries, Inc. | 1,105 | 147,462 | ||||||
Reliance Steel & Aluminum Co. | 3,773 | 720,153 | ||||||
Royal Gold, Inc. | 841 | 101,980 | ||||||
RPM International, Inc. | 2,133 | 180,388 | ||||||
Scotts Miracle-Gro Co. | 173 | 24,230 | ||||||
Sealed Air Corp. | 4,230 | 283,960 | ||||||
Sherwin-Williams Co. | 911 | 239,711 | ||||||
Silgan Holdings, Inc. | 2,327 | 97,455 | ||||||
Sonoco Products Co. | 3,126 | 183,559 | ||||||
Southern Copper Corp. | 245 | 17,001 | ||||||
Steel Dynamics, Inc. | 3,809 | 268,839 | ||||||
Sylvamo Corp.* | 2,545 | 88,820 | ||||||
Valvoline, Inc. | 7,139 | 230,804 | ||||||
Vulcan Materials Co. | 1,127 | 204,494 | ||||||
Westlake Corp. | 478 | 52,728 | ||||||
Westrock Co. | 3,954 | 178,998 | ||||||
|
| |||||||
(Cost $8,663,337) | 10,302,767 | |||||||
|
| |||||||
Real Estate — 6.1% | ||||||||
Alexandria Real Estate Equities, Inc. REIT | 1,000 | 189,400 | ||||||
American Campus Communities, Inc. REIT | 969 | 52,142 | ||||||
American Homes 4 Rent, Class A REIT | 2,860 | 108,709 | ||||||
American Tower Corp. REIT | 400 | 90,748 | ||||||
Americold Realty Trust REIT | 901 | 24,075 | ||||||
Apartment Income REIT Corp. REIT | 1,669 | 86,137 | ||||||
AvalonBay Communities, Inc. REIT | 1,735 | 413,954 | ||||||
Boston Properties, Inc. REIT | 2,775 | 339,410 | ||||||
Brixmor Property Group, Inc. REIT | 3,126 | 78,525 | ||||||
Camden Property Trust REIT | 1,195 | 197,306 | ||||||
CBRE Group, Inc., Class A* | 5,851 | 566,669 | ||||||
Cousins Properties, Inc. REIT | 2,782 | 107,469 | ||||||
Crown Castle International Corp. REIT | 705 | 117,446 | ||||||
CubeSmart REIT | 5,147 | 248,137 | ||||||
CyrusOne, Inc. REIT | 742 | 67,040 | ||||||
Digital Realty Trust, Inc. REIT | 625 | 84,325 | ||||||
Douglas Emmett, Inc. REIT | 1,599 | 50,688 | ||||||
Duke Realty Corp. REIT | 4,670 | 247,510 | ||||||
Equinix, Inc. REIT | 80 | 56,778 | ||||||
Equity LifeStyle Properties, Inc. REIT | 3,565 | 266,020 | ||||||
Equity Residential REIT | 5,159 | 440,063 | ||||||
Essex Property Trust, Inc. REIT | 1,132 | 359,036 | ||||||
Extra Space Storage, Inc. REIT | 2,381 | 447,985 | ||||||
Federal Realty Investment Trust REIT | 849 | 99,825 | ||||||
First Industrial Realty Trust, Inc. REIT | 4,471 | 257,440 | ||||||
Gaming and Leisure Properties, Inc. REIT | 1,067 | 48,452 | ||||||
Healthcare Trust of America, Inc., Class A REIT | 2,147 | 63,100 | ||||||
Healthpeak Properties, Inc. REIT | 3,959 | 122,966 | ||||||
Highwoods Properties, Inc. REIT | 4,931 | 214,992 | ||||||
Hudson Pacific Properties, Inc. REIT | 969 | 25,582 | ||||||
Invitation Homes, Inc. REIT | 3,538 | 133,736 |
See Notes to Financial Statements. | 46 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
February 28, 2022 (Unaudited)
Number | Value | |||||||
Real Estate (Continued) | ||||||||
Iron Mountain, Inc. REIT | 7,719 | $ | 379,620 | |||||
Jones Lang LaSalle, Inc.* | 1,750 | 430,885 | ||||||
Kilroy Realty Corp. REIT | 1,785 | 127,842 | ||||||
Kimco Realty Corp. REIT | 14,190 | 333,891 | ||||||
Lamar Advertising Co., Class A REIT | 1,634 | 178,204 | ||||||
Life Storage, Inc. REIT | 1,896 | 240,015 | ||||||
Medical Properties Trust, Inc. REIT | 4,293 | 87,320 | ||||||
Mid-America Apartment Communities, Inc. REIT | 1,242 | 254,126 | ||||||
National Retail Properties, Inc. REIT | 2,123 | 90,461 | ||||||
Prologis, Inc. REIT | 1,056 | 154,018 | ||||||
Public Storage REIT | 1,427 | 506,614 | ||||||
Rayonier, Inc. REIT | 2,052 | 81,464 | ||||||
Realty Income Corp. REIT | 1,539 | 101,712 | ||||||
Regency Centers Corp. REIT | 1,199 | 79,002 | ||||||
Rexford Industrial Realty, Inc. REIT | 1,651 | 115,785 | ||||||
SBA Communications Corp. REIT | 202 | 61,285 | ||||||
Simon Property Group, Inc. REIT | 566 | 77,859 | ||||||
SL Green Realty Corp. REIT | 1,819 | 144,647 | ||||||
Spirit Realty Capital, Inc. REIT | 701 | 32,505 | ||||||
STORE Capital Corp. REIT | 1,196 | 36,741 | ||||||
Sun Communities, Inc. REIT | 670 | 121,270 | ||||||
UDR, Inc. REIT | 2,331 | 127,902 | ||||||
Ventas, Inc. REIT | 333 | 17,982 | ||||||
VICI Properties, Inc. REIT | 5,592 | 156,352 | ||||||
Vornado Realty Trust REIT | 271 | 11,729 | ||||||
Welltower, Inc. REIT | 499 | 41,562 | ||||||
Weyerhaeuser Co. REIT | 5,795 | 225,310 | ||||||
WP Carey, Inc. REIT (a) | 2,172 | 168,113 | ||||||
|
| |||||||
(Cost $8,927,427) | 9,989,881 | |||||||
|
| |||||||
Utilities — 5.5% | ||||||||
AES Corp. | 8,678 | 184,234 | ||||||
Alliant Energy Corp. | 3,513 | 205,159 | ||||||
Ameren Corp. | 3,151 | 270,828 | ||||||
American Electric Power Co., Inc. | 3,230 | 292,800 | ||||||
American Water Works Co., Inc. | 1,305 | 197,172 | ||||||
Atmos Energy Corp. | 427 | 46,889 | ||||||
Avangrid, Inc. (a) | 840 | 37,691 | ||||||
CenterPoint Energy, Inc. | 5,310 | 145,229 | ||||||
CMS Energy Corp. | 3,341 | 213,857 | ||||||
Consolidated Edison, Inc. | 3,799 | 325,840 | ||||||
Constellation Energy Corp. | 2,926 | 134,538 | ||||||
Dominion Energy, Inc. | 1,995 | 158,662 | ||||||
DTE Energy Co. | 3,585 | 435,900 |
Number | Value | |||||||
Utilities (Continued) | ||||||||
Duke Energy Corp. | 2,591 | $ | 260,162 | |||||
Edison International | 2,742 | 173,898 | ||||||
Entergy Corp. | 3,348 | 352,243 | ||||||
Essential Utilities, Inc. | 1,271 | 59,877 | ||||||
Evergy, Inc. | 6,886 | 429,755 | ||||||
Eversource Energy | 2,015 | 164,827 | ||||||
Exelon Corp. | 8,779 | 373,634 | ||||||
FirstEnergy Corp. | 11,002 | 460,434 | ||||||
Hawaiian Electric Industries, Inc. | 3,610 | 147,938 | ||||||
IDACORP, Inc. | 1,691 | 175,779 | ||||||
National Fuel Gas Co. | 6,786 | 422,361 | ||||||
NextEra Energy, Inc. | 1,054 | 82,497 | ||||||
NiSource, Inc. | 8,638 | 249,897 | ||||||
NRG Energy, Inc. | 6,475 | 245,014 | ||||||
OGE Energy Corp. | 4,405 | 165,408 | ||||||
Pinnacle West Capital Corp. | 1,656 | 117,294 | ||||||
PPL Corp. | 12,090 | 316,395 | ||||||
Public Service Enterprise Group, Inc. | �� | 5,928 | 384,312 | |||||
Sempra Energy | 1,728 | 249,212 | ||||||
Southern Co. | 4,294 | 278,122 | ||||||
UGI Corp. | 12,149 | 467,008 | ||||||
Vistra Corp. | 14,536 | 331,712 | ||||||
WEC Energy Group, Inc. | 2,366 | 215,022 | ||||||
Xcel Energy, Inc. | 3,193 | 214,985 | ||||||
|
| |||||||
(Cost $8,442,058) | 8,986,585 | |||||||
|
| |||||||
TOTAL COMMON STOCKS (Cost $145,816,693) | 164,212,394 | |||||||
|
| |||||||
SECURITIES LENDING COLLATERAL — 0.2% | ||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (b)(c) | 319,784 | 319,784 | ||||||
|
| |||||||
CASH EQUIVALENTS — 0.3% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (b) | 551,369 | 551,369 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 100.1% | $ | 165,083,547 | ||||||
Other assets and liabilities, net — (0.1%) | (90,617 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 164,992,930 | ||||||
|
|
See Notes to Financial Statements. | 47 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
February 28, 2022 (Unaudited)
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2022 is as follows:
Value ($) at 8/31/2021 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2022 | Value ($) at 2/28/2022 | ||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 0.2% |
| |||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (b)(c) |
| |||||||||||||||||||||||||||||||||||
639,018 | — | (319,234 | ) (d) | — | — | 15 | — | 319,784 | 319,784 | |||||||||||||||||||||||||||
CASH EQUIVALENTS — 0.3% |
| |||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 0.04% (b) |
| |||||||||||||||||||||||||||||||||||
426,619 | 2,766,955 | (2,642,205 | ) | — | — | 99 | — | 551,369 | 551,369 | |||||||||||||||||||||||||||
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1,065,637 | 2,766,955 | (2,961,439 | ) | — | — | 114 | — | 871,153 | 871,153 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
* | Non-income producing security. |
(a) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2022 amounted to $1,488,500, which is 0.9% 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 $1,242,108. |
(d) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2022. |
REIT: | Real Estate Investment Trust |
At February 28, 2022, open futures contracts purchased were as follows:
Contract Description | Currency | Number of Contracts | Notional Amount | Contract Value | Expiration Date | Unrealized Depreciation | ||||||||||||
S&P 500 E-Mini Futures | USD | 3 | $ | 698,145 | $ | 655,200 | 3/18/2022 | $ | (42,945 | ) |
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. | 48 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
February 28, 2022 (Unaudited)
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2022 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
Assets | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stocks (e) | $ | 164,212,394 | $ | — | $ | — | $ | 164,212,394 | ||||||||
Short-Term Investments (e) | 871,153 | — | — | 871,153 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 165,083,547 | $ | — | $ | — | $ | 165,083,547 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liabilities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Derivatives (f) | ||||||||||||||||
Futures Contracts | $ | (42,945 | ) | $ | — | $ | — | $ | (42,945 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | (42,945 | ) | $ | — | $ | — | $ | (42,945 | ) | ||||||
|
|
|
|
|
|
|
|
(e) | See Schedule of Investments for additional detailed categorizations. |
(f) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
See Notes to Financial Statements. | 49 |
DBX ETF Trust
February 28, 2022 (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 | $ | 77,468,483 | $ | 360,501,608 | $ | 13,950,539 | $ | 164,212,394 | ||||||||
Investment in affiliated securities at value | — | 172,180 | — | — | ||||||||||||
Investment in DWS Government Money Market Series | 15,752 | 60,718 | 204,073 | 551,369 | ||||||||||||
Investment in DWS Government & Agency Securities Portfolio* | 967,655 | 300,102 | 10,656 | 319,784 | ||||||||||||
Foreign currency at value | 106,034 | 299,067 | — | — | ||||||||||||
Deposit with broker for futures contracts | 9,334 | 38,170 | 10,800 | 32,400 | ||||||||||||
Receivables: | ||||||||||||||||
Investment securities sold | — | 918,424 | — | — | ||||||||||||
Dividends | 208,900 | 520,239 | 23,551 | 220,092 | ||||||||||||
Interest | — | 2 | 6 | 17 | ||||||||||||
Securities lending income | 314 | 956 | 29 | 285 | ||||||||||||
Foreign tax reclaim | 49,286 | 208,420 | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total assets | $ | 78,825,758 | $ | 363,019,886 | $ | 14,199,654 | $ | 165,336,341 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liabilities | ||||||||||||||||
Due to custodian | $ | — | $ | 169 | $ | — | $ | 204 | ||||||||
Payable upon return of securities loaned | 967,655 | 300,102 | 10,656 | 319,784 | ||||||||||||
Payables: | ||||||||||||||||
Investment securities purchased | 76,907 | 1,162,361 | — | — | ||||||||||||
Investment advisory fees | 14,545 | 25,400 | 2,597 | 21,623 | ||||||||||||
Variation margin on futures contracts | 4,044 | 3,799 | 600 | 1,800 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total liabilities | 1,063,151 | 1,491,831 | 13,853 | 343,411 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Assets, at value | $ | 77,762,607 | $ | 361,528,055 | $ | 14,185,801 | $ | 164,992,930 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net Assets Consist of | ||||||||||||||||
Paid-in capital | $ | 80,978,882 | $ | 202,966,640 | $ | 10,646,746 | $ | 149,859,734 | ||||||||
Distributable earnings (loss) | (3,216,275 | ) | 158,561,415 | 3,539,055 | 15,133,196 | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Assets, at value | $ | 77,762,607 | $ | 361,528,055 | $ | 14,185,801 | $ | 164,992,930 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Number of Common Shares outstanding | 2,600,001 | 4,500,001 | 350,001 | 3,700,001 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Asset Value | $ | 29.91 | $ | 80.34 | $ | 40.53 | $ | 44.59 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Investment in non-affiliated securities at cost | $ | 74,261,857 | $ | 311,635,940 | $ | 12,570,175 | $ | 145,816,693 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Investment in affiliated securities at cost | $ | — | $ | 146,003 | $ | — | $ | — | ||||||||
|
|
|
|
|
|
|
| |||||||||
Value of securities loaned | $ | 1,702,032 | $ | 1,746,297 | $ | 173,156 | $ | 1,488,500 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Investment in DWS Government Money Market Series at cost | $ | 15,752 | $ | 60,718 | $ | 204,073 | $ | 551,369 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Investment in DWS Government & Agency Securities Portfolio at cost* | $ | 967,655 | $ | 300,102 | $ | 10,656 | $ | 319,784 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Non-cash collateral for securities on loan | $ | 941,418 | $ | 1,527,554 | $ | 167,437 | $ | 1,242,108 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Foreign currency at cost | $ | 105,782 | $ | 299,703 | $ | — | $ | — | ||||||||
|
|
|
|
|
|
|
|
* | Represents collateral on securities loaned. |
See Notes to Financial Statements. | 50 |
DBX ETF Trust
For the Six Months Ended February 28, 2022 (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* | $ | 779,491 | $ | 3,941,373 | $ | 200,844 | $ | 1,634,845 | ||||||||
Income distributions from affiliated funds | 8 | 92 | 36 | 99 | ||||||||||||
Affiliated securities lending income | 39 | 68 | — | 15 | ||||||||||||
Unaffiliated non-cash dividend income* | 76,628 | 400,902 | — | — | ||||||||||||
Unaffiliated securities lending income, net of borrower rebates | 7,776 | 35,590 | 485 | 4,562 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total investment income | 863,942 | 4,378,025 | 201,365 | 1,639,521 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Expenses | ||||||||||||||||
Investment advisory fees | 115,180 | 240,053 | 27,356 | 161,555 | ||||||||||||
Other expenses | 57 | 57 | 57 | 57 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total expenses | 115,237 | 240,110 | 27,413 | 161,612 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Less fees waived (see note 3): | ||||||||||||||||
Waiver | (36,518 | ) | (81 | ) | (37 | ) | (105 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net expenses | 78,719 | 240,029 | 27,376 | 161,507 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net investment income (loss) | 785,223 | 4,137,996 | 173,989 | 1,478,014 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Realized and Unrealized Gain (Loss) | ||||||||||||||||
Net realized gain (loss) from: | ||||||||||||||||
Investments | (652,406 | ) | (42,572 | ) | 18,389 | (2,148,619 | ) | |||||||||
In-kind redemptions | 6,641,271 | 109,696,830 | 5,695,131 | 23,580,789 | ||||||||||||
In-kind redemptions in affiliates | — | 57,895 | — | — | ||||||||||||
Futures contracts | (2,846 | ) | 56,579 | 21,643 | 26,610 | |||||||||||
Foreign currency transactions | (18,646 | ) | (38,278 | ) | — | — | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized gain (loss) | 5,967,373 | 109,730,454 | 5,735,163 | 21,458,780 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||
Investments | (11,584,407 | ) | (121,805,073 | ) | (5,852,547 | ) | (27,354,302 | ) | ||||||||
Investments in affiliates | — | (45,107 | ) | — | — | |||||||||||
Futures contracts | (11,389 | ) | (79,155 | ) | (28,313 | ) | (68,350 | ) | ||||||||
Foreign currency translations | (2,031 | ) | (5,481 | ) | — | — | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net change in unrealized appreciation (depreciation) | (11,597,827 | ) | (121,934,816 | ) | (5,880,860 | ) | (27,422,652 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized and unrealized gain (loss) on investments, futures and foreign currency transactions | (5,630,454 | ) | (12,204,362 | ) | (145,697 | ) | (5,963,872 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | (4,845,231 | ) | $ | (8,066,366 | ) | $ | 28,292 | $ | (4,485,858 | ) | |||||
|
|
|
|
|
|
|
| |||||||||
* Unaffiliated foreign tax withheld | $ | 83,952 | $ | 155,051 | $ | — | $ | 380 |
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, 2022 (Unaudited) | Year Ended August 31, 2021 | For the Six Months Ended February 28, 2022 (Unaudited) | Year Ended August 31, 2021 | |||||||||||||
Increase (Decrease) in Net Assets from Operations | ||||||||||||||||
Net investment income (loss) | $ | 785,223 | $ | 1,995,225 | $ | 4,137,996 | $ | 12,961,318 | ||||||||
Net realized gain (loss) | 5,967,373 | 5,545,507 | 109,730,454 | 66,852,582 | ||||||||||||
Net change in net unrealized appreciation (depreciation) | (11,597,827 | ) | 7,471,727 | (121,934,816 | ) | 147,646,826 | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from operations | (4,845,231 | ) | 15,012,459 | (8,066,366 | ) | 227,460,726 | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Distributions to Shareholders | (1,400,613 | ) | (2,769,501 | ) | (6,163,223 | ) | (11,461,571 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Fund Shares Transactions | ||||||||||||||||
Proceeds from shares sold | 34,320,380 | 3,122,218 | — | 738,181,720 | ||||||||||||
Value of shares redeemed | (21,000,773 | ) | (17,052,937 | ) | (426,998,915 | ) | (283,087,229 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from fund share transactions | 13,319,607 | (13,930,719 | ) | (426,998,915 | ) | 455,094,491 | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Total net increase (decrease) in Net Assets | 7,073,763 | (1,687,761 | ) | (441,228,504 | ) | 671,093,646 | ||||||||||
Net Assets | ||||||||||||||||
Beginning of period | 70,688,844 | 72,376,605 | 802,756,559 | 131,662,913 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
End of period | $ | 77,762,607 | $ | 70,688,844 | $ | 361,528,055 | $ | 802,756,559 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Changes in Shares Outstanding | ||||||||||||||||
Shares outstanding, beginning of period | 2,150,001 | 2,600,001 | 9,450,001 | 2,000,001 | ||||||||||||
Shares sold | 1,100,000 | 100,000 | — | 11,250,000 | ||||||||||||
Shares redeemed | (650,000 | ) | (550,000 | ) | (4,950,000 | ) | (3,800,000 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Shares outstanding, end of period | 2,600,001 | 2,150,001 | 4,500,001 | 9,450,001 | ||||||||||||
|
|
|
|
|
|
|
|
See Notes to Financial Statements. | 52 |
DBX ETF Trust
Statements of Changes in Net Assets (Continued)
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | Xtrackers Russell US Multifactor ETF | |||||||||||||||
For the Six Months Ended February 28, 2022 (Unaudited) | Year Ended August 31, 2021 | For the Six Months Ended February 28, 2022 (Unaudited) | Year Ended August 31, 2021 | |||||||||||||
Increase (Decrease) in Net Assets from Operations | ||||||||||||||||
Net investment income (loss) | $ | 173,989 | $ | 1,069,129 | $ | 1,478,014 | $ | 2,521,312 | ||||||||
Net realized gain (loss) | 5,735,163 | 28,616,974 | 21,458,780 | 23,394,468 | ||||||||||||
Net change in net unrealized appreciation (depreciation) | (5,880,860 | ) | (7,514,529 | ) | (27,422,652 | ) | 28,283,557 | |||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from operations | 28,292 | 22,171,574 | (4,485,858 | ) | 54,199,337 | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Distributions to Shareholders | (224,800 | ) | (1,304,404 | ) | (1,582,300 | ) | (2,600,903 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Fund Shares Transactions | ||||||||||||||||
Proceeds from shares sold | — | 22,826,382 | 30,361,717 | 79,876,610 | ||||||||||||
Value of shares redeemed | (25,354,957 | ) | (104,524,407 | ) | (65,460,391 | ) | (75,144,279 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from fund share transactions | (25,354,957 | ) | (81,698,025 | ) | (35,098,674 | ) | 4,732,331 | |||||||||
|
|
|
|
|
|
|
| |||||||||
Total net increase (decrease) in Net Assets | (25,551,465 | ) | (60,830,855 | ) | (41,166,832 | ) | 56,330,765 | |||||||||
Net Assets | ||||||||||||||||
Beginning of period | 39,737,266 | 100,568,121 | 206,159,762 | 149,828,997 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
End of period | $ | 14,185,801 | $ | 39,737,266 | $ | 164,992,930 | $ | 206,159,762 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Changes in Shares Outstanding | ||||||||||||||||
Shares outstanding, beginning of period | 950,001 | 3,200,001 | 4,450,001 | 4,300,001 | ||||||||||||
Shares sold | — | 700,000 | 650,000 | 1,950,000 | ||||||||||||
Shares redeemed | (600,000 | ) | (2,950,000 | ) | (1,400,000 | ) | (1,800,000 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Shares outstanding, end of period | 350,001 | 950,001 | 3,700,001 | 4,450,001 | ||||||||||||
|
|
|
|
|
|
|
|
See Notes to Financial Statements. | 53 |
DBX ETF Trust
Xtrackers FTSE Developed ex US Multifactor ETF Selected Per Share Data | For the Six Months Ended 2/28/2022 (Unaudited) | Years Ended August 31, | ||||||||||||||||||||||
2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||||||||||||
Net Asset Value, beginning of period | $ | 32.88 | $ | 27.84 | $ | 26.80 | $ | 28.84 | $ | 28.17 | $ | 25.41 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||
Net investment income (loss)(a) | 0.37 | 0.84 | 0.62 | 0.83 | 0.77 | 0.54 | ||||||||||||||||||
Net realized and unrealized gain (loss) | (2.70 | ) | 5.35 | 1.32 | (2.11 | ) | 0.72 | 3.19 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total from investment operations | (2.33 | ) | 6.19 | 1.94 | (1.28 | ) | 1.49 | 3.73 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Less distributions from: |
| |||||||||||||||||||||||
Net investment income | (0.64 | ) | (1.15 | ) | (0.90 | ) | (0.76 | ) | (0.82 | ) | (0.97 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total distributions | (0.64 | ) | (1.15 | ) | (0.90 | ) | (0.76 | ) | (0.82 | ) | (0.97 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Net Asset Value, end of period | $ | 29.91 | $ | 32.88 | $ | 27.84 | $ | 26.80 | $ | 28.84 | $ | 28.17 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total Return (%) | (7.19 | )**(b) | 22.69 | (b) | 7.49 | (b) | (4.51 | )(b) | 5.32 | 15.16 | ||||||||||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||||||||||||||
Net Assets, end of period ($ millions) | 78 | 71 | 72 | 72 | 59 | 15 | ||||||||||||||||||
Ratio of expenses before fee waiver (%) | 0.35 | * | 0.35 | 0.35 | 0.35 | 0.35 | 0.35 | |||||||||||||||||
Ratio of expenses after fee waiver (%) | 0.24 | * | 0.24 | 0.24 | 0.29 | 0.35 | 0.35 | |||||||||||||||||
Ratio of net investment income (loss) (%) | 2.27 | * | 2.75 | 2.37 | 3.05 | 2.62 | 2.10 | |||||||||||||||||
Portfolio turnover rate (%)(c) | 28 | ** | 53 | 43 | 51 | 45 | 45 |
Xtrackers MSCI Kokusai Equity ETF Selected Per Share Data | For the Six Months Ended 2/28/2022 (Unaudited) | Year Ended 8/31/2021 | Period Ended 8/31/2020(d) | |||||||||
Net Asset Value, beginning of period | $ | 84.95 | $ | 65.83 | $ | 50.00 | ||||||
|
|
|
|
|
| |||||||
Income (loss) from investment operations: | ||||||||||||
Net investment income (loss)(a) | 0.65 | 1.28 | 0.49 | |||||||||
Net realized and unrealized gain (loss) | (4.30 | ) | 18.91 | 15.34 | ||||||||
|
|
|
|
|
| |||||||
Total from investment operations | (3.65 | ) | 20.19 | 15.83 | ||||||||
|
|
|
|
|
| |||||||
Less distributions from: |
| |||||||||||
Net investment income | (0.96 | ) | (1.06 | ) | — | |||||||
Net realized gains | — | (0.01 | ) | — | ||||||||
|
|
|
|
|
| |||||||
Total distributions | (0.96 | ) | (1.07 | ) | — | |||||||
|
|
|
|
|
| |||||||
Net Asset Value, end of period | $ | 80.34 | $ | 84.95 | $ | 65.83 | ||||||
|
|
|
|
|
| |||||||
Total Return (%)(b) | (4.34 | )** | 30.87 | 31.66 | ** | |||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||
Net Assets, end of period ($ millions) | 362 | 803 | 132 | |||||||||
Ratio of expenses before fee waiver (%) | 0.09 | * | 0.09 | 0.09 | * | |||||||
Ratio of expenses after fee waiver (%) | 0.09 | * | 0.09 | 0.09 | * | |||||||
Ratio of net investment income (loss) (%) | 1.48 | * | 1.73 | 2.08 | * | |||||||
Portfolio turnover rate (%)(c) | 2 | ** | 6 | 7 | ** |
(a) | Based on average shares outstanding during the period. |
(b) | Total Return would have been lower if certain expenses had not been reimbursed by the Advisor. |
(c) | Portfolio turnover rate does not include securities received or delivered from processing creations or redemptions. |
(d) | For the period April 8, 2020 (commencement of operations) through August 31, 2020. |
* | Annualized. |
** | Not Annualized. |
See Notes to Financial Statements. | 54 |
DBX ETF Trust
Financial Highlights (Continued)
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF Selected Per Share Data | For the Six Months Ended 2/28/2022 (Unaudited) | Years Ended August 31, | Period Ended 8/31/2018(a) | |||||||||||||||||
2021 | 2020 | 2019 | ||||||||||||||||||
Net Asset Value, beginning of period | $ | 41.83 | $ | 31.43 | $ | 27.08 | $ | 27.29 | $ | 25.00 | ||||||||||
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| |||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||
Net investment income (loss)(b) | 0.25 | 0.52 | 0.52 | 0.51 | 0.21 | |||||||||||||||
Net realized and unrealized gain (loss) | (1.24 | ) | 10.44 | 4.42 | (0.25 | ) | 2.16 | |||||||||||||
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|
|
|
|
|
|
|
|
| |||||||||||
Total from investment operations | (0.99 | ) | 10.96 | 4.94 | 0.26 | 2.37 | ||||||||||||||
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|
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Less distributions from: |
| |||||||||||||||||||
Net investment income | (0.31 | ) | (0.56 | ) | (0.59 | ) | (0.47 | ) | (0.08 | ) | ||||||||||
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| |||||||||||
Total distributions | (0.31 | ) | (0.56 | ) | (0.59 | ) | (0.47 | ) | (0.08 | ) | ||||||||||
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| |||||||||||
Net Asset Value, end of period | $ | 40.53 | $ | 41.83 | $ | 31.43 | $ | 27.08 | $ | 27.29 | ||||||||||
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| |||||||||||
Total Return (%) | (2.39 | )**(c) | 35.25 | (c) | 18.72 | (c) | 1.03 | (c) | 9.52 | ** | ||||||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||||||||||
Net Assets, end of period ($ millions) | 14 | 40 | 101 | 111 | 61 | |||||||||||||||
Ratio of expenses before fee waiver (%) | 0.19 | * | 0.19 | 0.19 | 0.19 | 0.19 | * | |||||||||||||
Ratio of expenses after fee waiver (%) | 0.19 | * | 0.19 | 0.19 | 0.19 | 0.19 | * | |||||||||||||
Ratio of net investment income (loss) (%) | 1.21 | * | 1.51 | 1.85 | 1.93 | 2.00 | * | |||||||||||||
Portfolio turnover rate (%)(d) | 1 | ** | 13 | 22 | 31 | 26 | ** |
Xtrackers Russell US Multifactor ETF Selected Per Share Data | For the Six Months Ended 2/28/2022 (Unaudited) | Years Ended August 31, | ||||||||||||||||||||||
2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||||||||||||
Net Asset Value, beginning of period | $ | 46.33 | $ | 34.84 | $ | 33.88 | $ | 33.93 | $ | 29.47 | $ | 26.76 | ||||||||||||
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| |||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||
Net investment income (loss)(b) | 0.36 | 0.56 | 0.62 | 0.57 | 0.52 | 0.51 | ||||||||||||||||||
Net realized and unrealized gain (loss) | (1.74 | ) | 11.47 | 0.96 | (0.09 | ) | 4.44 | 2.85 | ||||||||||||||||
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| |||||||||||||
Total from investment operations | (1.38 | ) | 12.03 | 1.58 | 0.48 | 4.96 | 3.36 | |||||||||||||||||
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Less distributions from: |
| |||||||||||||||||||||||
Net investment income | (0.36 | ) | (0.54 | ) | (0.62 | ) | (0.53 | ) | (0.50 | ) | (0.65 | ) | ||||||||||||
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| |||||||||||||
Total distributions | (0.36 | ) | (0.54 | ) | (0.62 | ) | (0.53 | ) | (0.50 | ) | (0.65 | ) | ||||||||||||
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| |||||||||||||
Net Asset Value, end of period | $ | 44.59 | $ | 46.33 | $ | 34.84 | $ | 33.88 | $ | 33.93 | $ | 29.47 | ||||||||||||
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| |||||||||||||
Total Return (%)(c) | (3.01 | )** | 34.85 | 4.93 | 1.53 | 16.97 | 12.75 | |||||||||||||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||||||||||||||
Net Assets, end of period ($ millions) | 165 | 206 | 150 | 203 | 171 | 100 | ||||||||||||||||||
Ratio of expenses before fee waiver (%) | 0.17 | * | 0.17 | 0.17 | 0.17 | 0.19 | 0.23 | |||||||||||||||||
Ratio of expenses after fee waiver (%) | 0.17 | * | 0.17 | 0.17 | 0.17 | 0.18 | 0.21 | |||||||||||||||||
Ratio of net investment income (loss) (%) | 1.56 | * | 1.40 | 1.85 | 1.77 | 1.62 | 1.83 | |||||||||||||||||
Portfolio turnover rate (%)(d) | 15 | ** | 39 | 47 | 48 | 45 | 67 |
(a) | For the period April 5, 2018 (commencement of operations) through August 31, 2018. |
(b) | Based on average shares outstanding during the period. |
(c) | Total Return would have been lower if certain expenses had not been reimbursed by the Advisor. |
(d) | Portfolio turnover rate does not include securities received or delivered from processing creations or redemptions. |
* | Annualized. |
** | Not Annualized. |
See Notes to Financial Statements. | 55 |
DBX ETF Trust
1. Organization
DBX ETF Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “Act”), as an open-end registered management investment company organized as a Delaware statutory trust.
As of February 28, 2022, the Trust consists of thirty-six investment series of exchange-traded funds (“ETFs”) (each a “Fund” and collectively, the “Funds”) in operation and trading. These financial statements report on the Funds listed below:
Xtrackers FTSE Developed ex US Multifactor ETF |
Xtrackers MSCI Kokusai Equity ETF |
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF Xtrackers Russell US Multifactor ETF |
DBX Advisors LLC (“DBX” or the “Advisor”), an indirect, wholly-owned subsidiary of DWS Group GmbH & Co. KGaA (“DWS Group”), serves as investment advisor to the Funds and has overall responsibility for the general management and administration of the Funds, subject to the supervision of the Funds’ Board of Trustees (“Board”).
Each Fund offers shares that are listed and traded on the NYSE Arca, Inc. (“NYSE Arca”). Unlike conventional mutual funds, each Fund issues and redeems shares on a continuous basis, at net asset value (“NAV”), only in large specified lots consisting of 50,000 shares, except for Xtrackers MSCI Kokusai Equity ETF which lots consist of 10,000 shares effective February 24, 2022, 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 Xtrackers Russell US Multifactor ETF | Russell 1000 2Qual/Val 5% Capped Factor Index Russell 1000 Comprehensive Factor Index |
The FTSE Developed ex US Comprehensive Factor is designed to track the equity market performance of companies in developed countries (except the United States) selected on the investment style criteria (“factors”) of value, momentum, quality, low volatility and size. The companies eligible for the Underlying Index are derived from its starting universe, the FTSE Developed ex US Index, which is comprised of large- and mid-capitalization equity securities from developed markets (except the United States). The Underlying Index is rebalanced semiannually in March and September after the close of business on the third Friday of the review month.
The MSCI Kokusai Index, also known as the MSCI World ex Japan Index, is designed to track the performance of equity markets in developed markets (excluding Japan). The index is reviewed quarterly in February, May, August and November, with the objective of reflecting change in the underlying equity markets in a timely manner, while limiting undue index turnover. During the May and November semi-annual index reviews, the index is rebalanced and the large and mid capitalization cutoff points are recalculated.
The Russell 1000 2Qual/Val 5% Capped Factor Index is designed to track the equity market performance of companies in the United States selected on the investment style criteria (“factors”) of quality and value. The companies eligible for the Underlying Index are derived from its starting universe, the Russell 1000 Index, which is comprised of large-cap equity securities from issuers in the United States. The Underlying Index is rebalanced annually in June after the close of business on the third Friday of the review month. Upon a rebalancing, no issuer in the Underlying Index may represent more than 5% of the Underlying Index. In the event an issuer represents more than 5% of the Underlying Index at a rebalancing, such amount in excess of 5% shall be reallocated pro-rata to the other issuers in the Underlying Index.
56
DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
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 is diversified. Xtrackers MSCI Kokusai Equity ETF 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 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 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.
57
DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
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. Taxable net realized gains from investment transactions, reduced by capital loss carryforwards, if any, are declared and distributed to shareholders at least annually. The capital loss carryforward amount, if any, is available to offset future net capital gains. The Funds may occasionally be required to make supplemental distributions at some other time during the year. The Funds reserve the right to declare special distributions if, in their reasonable discretion, such action is necessary or advisable to preserve the status of each Fund as a RIC or to avoid imposition of income or excise taxes on undistributed income. Dividends and distributions to shareholders, if any, are recorded on the ex-dividend date. The amount of dividends and distributions from net investment income and net realized capital gains are determined in accordance with Federal income tax regulations which may differ from U.S. GAAP. These “book/tax” differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified at the end of the year within the components of net assets based on their federal tax treatment; temporary differences do not require reclassification. Dividends and distributions, which exceed earnings and profits for the full year for tax purposes, are reported as a tax return of capital.
58
DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
In accordance with U.S. GAAP requirements regarding accounting for uncertainties in income taxes, management has analyzed the Funds’ tax positions taken or expected to be taken on foreign, federal and state income tax returns for all open tax years and has concluded that no provision for income tax is required in the Funds’ financial statements.
The Funds recognize interest and penalties, if any, related to uncertain tax positions as income tax expense on the Statements of Operations. For the period ended February 28, 2022, the Funds did not incur any interest or penalties.
At August 31, 2021, for Federal income tax purposes, the Funds have capital loss carryforwards available as shown in the table below, to the extent provided by regulations, to offset future capital gains for an unlimited period. To the extent that these loss carryforwards are used to offset future capital gains, it is probable that the capital gains so offset will not be distributed to shareholders.
Short-Term | Long-Term | Total Amount | ||||||||||||
Xtrackers FTSE Developed ex US Multifactor ETF | $ | 4,361,472 | $ | 6,965,576 | $ | 11,327,048 | ||||||||
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | 453,671 | 2,958,730 | 3,412,401 | |||||||||||
Xtrackers Russell US Multifactor ETF | 14,999,514 | 8,195,267 | 23,194,781 |
As of August 31, 2021, the aggregate cost of investments for federal income tax purposes, the net unrealized appreciation or (depreciation) and the aggregated gross unrealized appreciation (depreciation) on investments were as follows:
Aggregate Tax Cost | Net Unrealized Appreciation (Depreciation) | Aggregate Gross Unrealized Appreciation | Aggregate Gross Unrealized (Depreciation) | |||||||||||||
Xtrackers FTSE Developed ex US Multifactor ETF | $ | 57,709,682 | $ | 13,602,175 | $ | 15,353,361 | $ | (1,751,186 | ) | |||||||
Xtrackers MSCI Kokusai Equity ETF | 632,419,518 | 169,955,856 | 176,074,827 | (6,118,971 | ) | |||||||||||
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | 32,465,480 | 7,054,480 | 7,649,954 | (595,474 | ) | |||||||||||
Xtrackers Russell US Multifactor ETF | 162,875,862 | 43,928,099 | 45,100,533 | (1,172,434 | ) |
The tax character of current year distributions will be determined at the end of the current fiscal year.
Foreign Taxes The Funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, capital gains on investments, certain foreign currency transactions or other corporate events. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which the Funds invest. These foreign taxes, if any, are paid by the Funds and are reflected in their Statements of Operations as follows: foreign taxes withheld at source are presented as a reduction of income, foreign taxes on capital gains from sales of investments and foreign currency transactions are included in their respective net realized gain (loss) categories, and deferred foreign taxes on unrealized gains are included in net change in unrealized appreciation (depreciation). Receivables and payables related to foreign taxes as of February 28, 2022, if any, are disclosed in the Funds’ Statements of Assets and Liabilities.
Foreign Currency Translations The books and records of the Funds are maintained in U.S. dollars. Investment securities and other assets and liabilities denominated in a foreign currency are translated into U.S. dollars at the prevailing exchange rates at period end. Purchases and sales of investment securities, income and expenses are translated into U.S. dollars at the prevailing exchange rates on the respective dates of the transactions.
Net realized and unrealized gains and losses on foreign currency transactions represent net gains and losses between trade and settlement dates on securities transactions, the acquisition and disposition of foreign currencies, and the difference between the amount of net investment income accrued and the U.S. dollar amount actually received. The portion of both realized and unrealized gains and losses on investments that results from fluctuations in foreign currency exchange rates is not separately disclosed, but is included with net realized and unrealized gain/appreciation and loss/depreciation on investments.
Securities Lending The Funds may lend securities to certain financial institutions under the terms of their securities lending agreement. During the term of the loans, the Funds continue to receive interest and dividends generated by the securities and to participate in any changes in their market value. The Funds require the
59
DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
borrowers of the securities to maintain collateral with the Funds consisting of cash and/or securities issued or guaranteed by the U.S. Government, its agencies or instrumentalities having a value at least equal to the value of the securities loaned. When the collateral falls below specified amounts, the lending agent will use its best effort to obtain additional collateral on the next business day to meet required amounts under the securities lending agreement. During the period ended February 28, 2022, the Funds invested the cash collateral into a joint trading account in DWS Government & Agency Securities Portfolio, an affiliated money market fund managed by DWS Investment Management Americas, Inc. DWS Investment Management Americas, Inc. receives a management/administration fee (0.06% annualized effective rate as of February 28, 2022) on the cash collateral invested in DWS Government & Agency Securities Portfolio. The Funds receive compensation for lending their securities either in the form of fees or by earning interest on invested cash collateral, net of borrower rebates and fees paid to a lending agent. Either the Fund or the borrower may terminate the loan at any time and the borrower, after notice, is required to return borrowed securities within a standard time period. There may be risks of delay and costs in recovery of securities or even loss of rights in the collateral should the borrower of the securities fail financially. If the Funds are not able to recover securities lent, the Funds may sell the collateral and purchase a replacement investment in the market, incurring the risk that the value of the replacement security is greater than the value of the collateral. The Funds are also subject to all investment risks associated with the reinvestment of any cash collateral received, including, but not limited to, interest rate, credit and liquidity risk associated with such investments.
As of February 28, 2022, the Funds listed below had securities on loan. The value of the related collateral exceeded the value of the securities loaned at year end.
Remaining Contractual Maturity of the Agreements, as of February 28, 2022 | ||||||||||||||||||||
Securities Lending Transactions | Overnight and Continuous | <30 Days | Between 30 & 90 days | >90 days | Total | |||||||||||||||
Xtrackers FTSE Developed ex US Multifactor ETF |
| |||||||||||||||||||
Common Stocks | $ | 967,655 | $ | — | $ | — | $ | 941,418 | $ | 1,909,073 | ||||||||||
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|
|
| |||||||||||
Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
| $ | 1,909,073 | |||||||||||||||||
Xtrackers MSCI Kokusai Equity ETF |
| |||||||||||||||||||
Common Stocks | $ | 300,102 | $ | 9,046 | $ | 2,819 | $ | 1,515,689 | $ | 1,827,656 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
| $ | 1,827,656 | |||||||||||||||||
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF |
| |||||||||||||||||||
Common Stocks | $ | 10,656 | $ | 1,378 | $ | 2,358 | $ | 163,701 | $ | 178,093 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
| $ | 178,093 | |||||||||||||||||
Xtrackers Russell US Multifactor ETF |
| |||||||||||||||||||
Common Stocks | $ | 319,784 | $ | 92,848 | $ | 3,812 | $ | 1,145,448 | $ | 1,561,892 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Gross amount of recognized liabilities and non-cash collateral for securities lending transactions |
| $ | 1,561,892 |
Derivatives
Futures Contracts Each Fund may enter into futures contracts. These futures contracts will be used to simulate investment in the respective Underlying Index, to facilitate trading or to reduce transaction costs. Each Fund will enter into futures contracts that are traded on a U.S. or non-U.S. exchange. No Fund will use futures for speculative purposes. Futures contracts provide for the future sale by one party and purchase by another party of a specified amount of a specific instrument or index at a specified future time and at a specified price. For the period ended February 28, 2022, Xtrackers 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
60
DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
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, 2022 is included in a table following the Funds’ Schedule of Investments.
The following tables summarize the value of the Funds’ derivative instruments held as of February 28, 2022 and the related location in the accompanying Statement of Assets and Liabilities, presented by primary underlying risk exposure:
Asset Derivatives | Liability Derivatives | |||||||||||||
Xtrackers FTSE Developed ex US Multifactor ETF | ||||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | — | Unrealized depreciation on futures contracts* | $ | 14,080 | ||||||||
Xtrackers MSCI Kokusai Equity ETF | ||||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | 588 | Unrealized depreciation on futures contracts* | $ | 33,659 | ||||||||
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | ||||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | — | Unrealized depreciation on futures contracts* | $ | 14,570 | ||||||||
Xtrackers Russell US Multifactor ETF | ||||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | — | Unrealized depreciation on futures contracts* | $ | 42,945 |
* | Includes cumulative appreciation or cumulative depreciation of futures contracts as disclosed in the Schedule of Investments. Unsettled variation margin is disclosed separately within the Statement of Assets and Liabilities. |
Additionally, the amount of realized and unrealized gains and losses on derivative instruments recognized in the Funds’ earnings during the period ended February 28, 2022 and the related location in the accompanying Statement of Operations is summarized in the following tables by primary underlying risk exposure:
Net Realized Gain (Loss) from: | ||||
Futures Contracts - Equity Contracts | ||||
Xtrackers FTSE Developed ex US Multifactor ETF | $ | (2,846 | ) | |
Xtrackers MSCI Kokusai Equity ETF | 56,579 | |||
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | 21,643 | |||
Xtrackers Russell US Multifactor ETF | 26,610 |
Net Change in Unrealized Appreciation (Depreciation) on: | ||||
Futures Contracts - Equity Contracts | ||||
Xtrackers FTSE Developed ex US Multifactor ETF | $ | (11,389 | ) | |
Xtrackers MSCI Kokusai Equity ETF | (79,155 | ) | ||
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | (28,313 | ) | ||
Xtrackers Russell US Multifactor ETF | (68,350 | ) |
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DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
For the period ended February 28, 2022 the average monthly volume of derivatives was as follows:
Futures Contracts (Contract Value) | ||||
Xtrackers FTSE Developed ex US Multifactor ETF | $ | 341,834 | ||
Xtrackers MSCI Kokusai Equity ETF | 1,563,620 | |||
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | 225,802 | |||
Xtrackers Russell US Multifactor ETF | 581,582 |
Affiliated Cash Management Vehicles The Funds may invest uninvested cash balances in DWS Government Money Market Series and DWS ESG Liquidity Fund, affiliated money market funds which are managed by DWS Investment Management Americas, Inc. (“DIMA”), also an indirect, wholly owned subsidiary of DWS Group GmbH & Co. KGaA. Each affiliated money market fund is managed in accordance with Rule 2a-7 under the 1940 Act, which governs the quality, maturity, diversity and liquidity of instruments in which a money market fund may invest. DWS Government Money Market Series seeks to maintain a stable NAV, and DWS ESG Liquidity Fund maintains a floating NAV. The Funds indirectly bear their proportionate share of the expenses of each affiliated money market fund in which they invest. The Advisor will waive an amount of the unitary advisory fee payable to the Advisor by the Funds equal to such acquired fund’s fees and expenses on the Funds’ assets invested in the affiliated money market funds.
3. Investment Advisory and Other Agreements
The Advisor has overall responsibility for the general management and administration of the Funds, subject to the supervision of the Funds’ Board of Trustees. Under an investment advisory agreement between the Trust, on behalf of the Funds, and the Advisor (the “Investment Advisory Agreement”), the Advisor is responsible for arranging sub-advisory, transfer agency, custody, fund administration, and all other non-distribution related services for the Funds to operate.
For its investment advisory services to the Funds below, the Advisor is entitled to receive a unitary advisory fee from each Fund based on each Fund’s average daily net assets, computed and accrued daily and payable monthly, at an annual rate equal to:
Unitary Advisory Fee | ||||
Xtrackers FTSE Developed ex US Multifactor ETF | 0.35 | % | ||
Xtrackers MSCI Kokusai Equity ETF | 0.09 | % | ||
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | 0.19 | % | ||
Xtrackers Russell US Multifactor ETF | 0.17 | % |
The Advisor for Xtrackers FTSE Developed ex US Multifactor ETF has contractually agreed, until December 16, 2022, 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, 2022, the Advisor waived $36,199 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, 2022, the Advisor waived expenses of the Funds as follows:
Expenses Waived | ||||
Xtrackers FTSE Developed ex US Multifactor ETF | $ | 319 | ||
Xtrackers MSCI Kokusai Equity ETF | 81 | |||
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | 37 | |||
Xtrackers Russell US Multifactor ETF | 105 |
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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DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
The Bank of New York Mellon, a wholly-owned subsidiary of The Bank of New York Mellon Corporation, serves as Administrator, Custodian, Accounting Agent, Lending Agent and Transfer Agent for each Fund.
ALPS Distributors, Inc. (the “Distributor”) serves as the distributor of Creation Units for each Fund on an agency basis. The Distributor does not maintain a secondary market in shares of the Funds.
The Board of Trustees is currently comprised of three Independent Trustees. The Advisor paid retainer fees and attendance fees to each Independent Trustee; retainer fees to the Chairman of the Board of Trustees and Chairman of the Audit Committee; and attendance fees to each member of the Audit Committee (which is comprised of all of the Funds’ Independent Trustees).
4. Investment Portfolio Transactions
For the period ended February 28, 2022, the cost of investments purchased and proceeds from sale of investments (excluding in-kind transactions and short-term investments) were as follows:
Purchases | Sales | |||||||
Xtrackers FTSE Developed ex US Multifactor ETF | $ | 19,831,169 | $ | 18,839,275 | ||||
Xtrackers MSCI Kokusai Equity ETF | 10,847,676 | 12,124,122 | ||||||
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | 198,368 | 250,420 | ||||||
Xtrackers Russell US Multifactor ETF | 28,989,550 | 29,335,048 |
For the period ended February 28, 2022, the cost of in-kind purchases and proceeds from in-kind sales were as follows:
Purchases | Sales | |||||||
Xtrackers FTSE Developed ex US Multifactor ETF | $ | 31,775,769 | $ | 20,030,052 | ||||
Xtrackers MSCI Kokusai Equity ETF | — | 426,862,018 | ||||||
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | — | 25,351,596 | ||||||
Xtrackers Russell US Multifactor ETF | 30,351,184 | 65,579,299 |
5. Fund Share Transactions
As of February 28, 2022, there were unlimited Fund shares, no par value, authorized by the Trust. Fund shares are issued and redeemed by each Fund only in Creation Units or multiples thereof. Except when aggregated in Creation Units, shares of each Fund are not redeemable. Transactions in capital shares for each Fund are 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, increased government activity, including economic stimulus measures, and supply chain interruptions. The full effects, duration and costs of the COVID-19 pandemic are impossible to predict, and the circumstances surrounding the COVID-19 pandemic will continue to evolve, including the risk of future increased rates of infection due to low vaccination rates and/or the lack of effectiveness of current vaccines against new variants. The pandemic has affected and may continue to affect certain countries, industries, economic sectors, companies and investment products more than others, may exacerbate existing economic, political, or social tensions and may increase the probability of an economic recession or depression. The Funds’ and their investments may be adversely affected by the effects of the COVID-19 pandemic, and the pandemic may result in the Funds and their service providers experiencing operational difficulties in coordinating a remote workforce and implementing their business continuity plans, among others. Management will continue to monitor the impact COVID-19 has on the Funds and reflect the consequences as appropriate in the Funds’ accounting and financial reporting.
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DBX ETF Trust
In accordance with Rule 22e-4 (the “Liquidity Rule”) under the Investment Company Act of 1940 (the “1940 Act”), your Fund has adopted a liquidity risk management program (the “Program”), and the Board has designated DBX Advisors LLC (“Advisors”) as Program administrator. The Program is designed to assess and manage your Fund’s liquidity risk (the risk that the Fund would be unable to meet requests to redeem shares of the Fund without significant dilution of remaining investors’ interests in the Fund). Advisors has designated a committee (the “Committee”) composed of personnel from multiple departments within an affiliate of Advisors that is responsible for the implementation and ongoing administration of the Program, which includes assessing the Fund’s liquidity risk under both normal and reasonably foreseeable stressed conditions. Under the Program, every investment held by a Fund is classified on a daily basis into one of four liquidity categories based on estimations of the investment’s ability to be sold during designated timeframes in current market conditions without significantly changing the investment’s market value.
In February 2022, as required by the Program and the Liquidity Rule, Advisors provided the Board with an annual written report (the “Report”) addressing the operation of the Program and assessing the adequacy and effectiveness of its implementation during the period from December 1, 2020 through November 30, 2021 (the “Reporting Period”). During the Reporting Period, your Fund was primarily invested in highly liquid investments (investments that the Fund anticipates can be converted to cash within 3 business days or less in current market conditions without significantly changing their market value). As a result, your Fund is not required to adopt, and has not adopted, a “Highly Liquid Investment Minimum” as defined in the Liquidity Rule. During the Reporting Period, the Fund did not approach the 15% limit imposed by the Liquidity Rule on holdings in illiquid investments (investments that cannot be sold or disposed of in seven days or less in current market conditions without the sale of the investment significantly changing the market value of the investment). Your Fund did not experience any issues meeting investor redemptions at any time during the Reporting Period. In the Report, Advisors stated that it believes the Program has operated adequately and effectively to manage the Fund’s liquidity risk during the Reporting Period. Advisors also reported that there were no material changes made to the Program during the Reporting Period.
64
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 16-17, 2022 (the “Meeting”), the Trustees, all of whom are the Independent Trustees (those not affiliated with DBX ETF Trust (the “Trust”) or its service providers), unanimously approved the continuance of the Investment Advisory Agreement with respect to Xtrackers 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 16 and February 17, 2022. The Independent Trustees also noted that they had received and should take into consideration a substantial amount of information furnished throughout the year at regular Board meetings, which information included, among other things, an analysis of each Fund’s investment performance, tracking error and related financial information, presentations given by DBX, as well as its periodic reports on brokerage commissions, portfolio execution and other services provided to the Funds.
In reaching its decision to continue in effect the Investment Advisory Agreement for another annual period, the Board considered all factors it believed relevant, including (1) the nature, extent and quality of the services provided to the Funds and their shareholders; (2) the financial resources of DBX and its resulting ability to perform its obligations under the Investment Advisory Agreement; (3) the competitiveness of the advisory fee; (4) the total cost of the services provided by and the profits realized by the Advisor from its relationship with the Funds; (5) the extent to which economies of scale have been realized, and if the Funds’ shareholders have benefitted from those economies; and (6) fall out benefits, if any, enjoyed by the Advisor.
The Board reached a determination, with the assistance of Independent Trustee Counsel and Vedder Price P.C. (“Trust Counsel”) and through the exercise of its business judgment, that approval of the Investment Advisory Agreement and the compensation to be received thereunder is in the best interests of each Fund and its shareholders as well as consistent with the Board’s duties under state and federal law. The Board reached this conclusion based on multiple factors.
The Board considered the following in determining whether to approve the Investment Advisory Agreement:
Nature, Extent and Quality of Services. The Board reviewed in detail the nature, extent and quality of services provided and the risks incurred by the Advisor under the Investment Advisory Agreement. In doing so, the Board considered the information it had received from and the discussions it had with the Advisor continuously during the prior year, in addition to the information the Advisor had provided in response to the Board’s requests prior to the Meeting. The Board considered that these services include, among other things, furnishing a continuous investment program for the Funds, including arranging for, or implementing, the purchase and sale of portfolio securities, the provision of general corporate services such as portfolio management compliance services and the preparation and filing of certain reports on behalf of the Trust. The Board also considered, among other things, the professional experience, qualifications and performance of the senior management and key professional personnel of the Advisor, including portfolio management.
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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 factors in connection with the following Fund:
— | Xtrackers Russell 1000 US Quality at a Reasonable Price ETF’s advisory fees and total expenses were almost equivalent to the average of its Peer Group. |
The Board accordingly noted that each Fund’s fee is competitive with the fees of applicable peer ETFs.
The Board considered that the fee for each of the Funds is a unitary fee pursuant to which the Advisor pays all of the Funds’ costs (subject to certain specified exceptions). The Board considered that each Fund’s fee had been priced to scale when it was established. The Board also considered that each Fund’s portfolio is managed on a day-to-day basis by the Advisor and that the Advisor also provides oversight of day-to-day operations, including monitoring tracking error, providing services in connection with creation and redemption units and assistance in 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.
66
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.
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DBX ETF Trust
Proxy Voting Policies and Procedures
The Funds’ policies and procedures for voting proxies for portfolio securities and information about how each Fund voted proxies related to its portfolio securities during the most recent 12-month period ended June 30 are available on our Web site — www.Xtrackers.com (click on “Resources” and “Proxy Voting” at the top of the page) — or on the SEC’s Web site — www.sec.gov. To obtain a written copy of the Funds’ policies and procedures without charge, upon request, call us toll free at (855) 329-3837.
Portfolio Holdings Information
The Funds are required to file their complete schedule of portfolio holdings with the SEC for their first and third fiscal quarters on Form N-PORT. Copies of the filings are available without charge, upon request on the SEC’s website at www.sec.gov and are available by calling the Trust at 855-329-3837.
Information about each Fund’s portfolio holdings is available daily at www.Xtrackers.com.
Discount & Premium Information
Information regarding how often shares of each Fund traded on NYSE Arca at a price above (i.e., at a premium) or below (i.e., at a discount) the NAV of the Fund can be found at www.Xtrackers.com.
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DBX ETF Trust
DBX Advisors LLC (“Advisors”) collects non-public information about you from the following sources: (i) information received from you on applications or other forms; and (ii) information about your transactions with the Advisors, Advisors’ affiliates and third-party service providers and vendors. Advisors does not disclose any non-public personal information about you to anyone, other than as set forth below, as permitted by applicable law and regulation. Advisors may disclose non-public personal information about you to the funds in which you invest, to Advisors’ affiliates, and to non-affiliated companies that work with Advisors to service your account(s), or to provide services or process transactions that you have requested. Advisors may disclose non-public personal information in situations that may include, but are not limited to, in response to legal and/or regulatory inquiries and the proposed or actual sale, assignment merger or other transfer of all or a portion of Advisors’ business to another business entity. Advisors may also disclose non-public personal information about you to parties representing you, such as your investment representative, your accountant, your tax advisor, or to other third parties at your direction/consent. Advisors will not sell, rent, license or trade your personal and financial information to or with third parties for their own direct marketing use unless you give us general or specific consent to do so. If you decide to close your account(s) or become an inactive customer, Advisors will adhere to the privacy policies and practices as described in this notice. Advisors restricts access to your personal and account information to those employees who need to know that information to provide products and services to you. Advisors maintains reasonable and customary physical, electronic and procedural safeguards to guard your non-public personal information.
California residents may go to https://fundsus.dws.com/us/en-us/legal-resources/privacy-policy.html to obtain additional information relating to their rights under California state law.
Advisors reserves the right, at their discretion, to change, modify, add, or remove portions of this Privacy Policy Notice, and any of the policies described herein, at any time. Advisors will indicate any such changes to the Privacy Policy Notice at the privacy link which can be found at www.Xtrackers.com. At all times, you are bound by the then-current version of the Privacy Policy and all applicable laws. Advisors highly recommends that you review this Privacy Policy Notice from time to time to ensure that you are familiar with the most recent version. The examples contained in this Privacy Policy Notice are illustrations; they are not intended to be exclusive.
Rev. 12/2021
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DBX ETF Trust
This report is intended for the shareholders of the DBX ETF Trust.
This report must be preceded or accompanied by a prospectus.
Investing involves risk, including the possible loss of principal. Stocks may decline in value. Foreign investing involves greater and different risks than investing in U.S. companies, including currency fluctuations, less liquidity, less developed or less efficient trading markets, lack of comprehensive company information, political instability and differing auditing and legal standards. Funds investing in a single industry, country or in a limited geographic region, generally are more volatile than more diversified funds. Investing in derivatives entails special risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility. Because the Funds seek to provide exposure to stocks based on the following multifactors — value, momentum, quality, low volatility and size — it is expected, exposure to such investment factors will detract from performance in some market environments, as more fully explained in the Funds’ prospectus. KOKU is currently non-diversified and can take larger positions in fewer issues, increasing its potential risk. Performance of a Fund may diverge from that of its Underlying Index due to operating expenses, transaction costs, cash flows, use of sampling strategies or operational inefficiencies. An investment in any Fund should be considered only as a supplement to a complete investment program for those investors willing to accept the risks associated with that Fund. Please read the prospectus for more information.
War, terrorism, sanctions, economic uncertainty, trade disputes, public health crises and related geopolitical events have led, and, in the future, may lead to significant disruptions in U.S. and world economies and markets, which may lead to increased market volatility and may have significant adverse effects on the Funds and its investments.
Shares of the Funds are bought and sold at market price (not NAV) throughout the day on the NYSE Arca, Inc. Transactions in Fund shares may result in brokerage commissions and may generate tax consequences. There can be no assurance that an active trading market for shares of a Fund will develop or be maintained.
DBX ETF Trust Funds are distributed by ALPS Distributors, Inc. (“ALPS”). The Funds are managed by DBX Advisors LLC which is not affiliated with ALPS.
The brand DWS represents DWS Group GmbH & Co. KGaA and any of its subsidiaries such as DWS Distributors, Inc. which offers investment products or DWS Investment Management Americas, Inc. and RREEF America L.L.C. which offer advisory services.
DEEF, DEUS and QARP have been developed solely by DBX Advisors LLC. The Funds are not in any way connected to or sponsored, endorsed, issued, sold or promoted by the London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). FTSE Russell is a trading name of certain of the LSE Group companies.
All rights in the FTSE Developed ex US Comprehensive Factor Index, Russell 1000 Comprehensive Factor Index and Russell 1000 2Qual/Val 5% Capped Factor Index vest in the relevant LSE Group company which owns the Indexes. “FTSE®” “Russell®” and “FTSE Russell®” are a trademarks of the relevant LSE Group company and are used by any other LSE Group company under license.
The Index is calculated by or on behalf of FTSE International Limited or its affiliate, agent or partner. The LSE Group does not accept any liability whatsoever to any person arising out of (a) the use of, reliance on or any error in the Index or (b) investment in or operation of the Funds. The LSE Group makes no claim, prediction, warranty or representation either as to the results to be obtained from the Funds or the suitability of the Indexes for the purpose to which it is being put by DBX Advisors LLC.
KOKU is not sponsored, endorsed, issued, sold or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The Prospectus contains a more detailed description of the limited relationship MSCI has with DBX Advisors LLC and any related funds.
Copyright © 2022 DWS Group. All rights reserved. XtrackersTM is a trademark of DWS Investment GmbH. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
Not FDIC Insured | No Bank Guarantee | May Lose Value
DBX ETF Trust
Investment advisor DBX Advisors LLC 875 Third Avenue New York, NY 10022 | Administrator, custodian, fund accounting agent, lending agent & transfer agent The Bank of New York Mellon 240 Greenwich Street New York, NY 10286 | Distributor ALPS Distributors, Inc. 1290 Broadway Suite 1000 Denver, CO 80203 | ||
Independent registered public accounting firm Ernst & Young LLP One Manhattan West New York, NY 10001 | Legal counsel Vedder Price P.C. 1633 Broadway New York, NY |
R-045855-7 (4/22) DBX005124 (4/23)
(b) | Not applicable |
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) | Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto. | |
(a)(2)(1) | Not applicable. | |
(a)(2)(2) | Not applicable. | |
(b) | Certifications pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto. |
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, 2022 |
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, 2022 | ||
By (Signature and Title) | /s/ Diane Kenneally | |
Diane Kenneally | ||
Treasurer and Chief Financial Officer | ||
Date May 5, 2022 |