0001503123dws:Russell1000Index26494BroadBasedIndexMember2024-07-31
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: August 31, 2024
Item 1. Reports to Stockholders.
Xtrackers High Beta High Yield Bond ETF
Annual Shareholder Report — August 31, 2024
What were the Fund costs for the last year?
(Based on a hypothetical $10,000 investment)
| Fund | Cost of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|
| HYUP | $21 | 0.20% |
Gross expense ratio as of the latest prospectus: 0.20%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
This annual shareholder report contains important information about the Xtrackers High Beta High Yield Bond ETF ("the Fund") for the period September 1, 2023 to August 31, 2024. You can find additional information about the Fund at dws.com/etfreports. You can also request this information by contacting us at (844) 851‐4255.
This report describes changes to the Fund that occurred during the reporting period.
How did the fund perform last year and what affected its performance?
The Fund seeks investment results that correspond generally to the performance, before fees and expenses, of the Fund’s underlying index, the Solactive USD High Yield Corporates Total Market High Beta 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.
The Fund returned 13.58% for the period ended August 31, 2024. The Fund's underlying index returned 13.55% and the Fund's broad-based index the Bloomberg U.S. Universal Bond Index returned 7.92% during the same period, while the Fund's additional, more narrowly based index, the Solactive USD High Yield Corporates Total Market Index, returned 12.25%.
All sectors contributed positively to performance during the period with the greatest contribution coming from Consumer Cyclical, Communications and Consumer Non-Cyclical.
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.
Bloomberg U.S. Universal Bond Index measures the performance of U.S. dollar-denominated taxable bonds that are rated either investment grade or high yield. The index includes U.S. Treasury bonds, investment-grade and high yield U.S. corporate bonds, mortgage-backed securities, and Eurodollar bonds.
The Bloomberg U.S. Universal Bond Index is a broad-based index that represents the fund’s overall debt market. It replaces the Solactive USD High Yield Corporates Total Market Index as the Fund's broad-based index in compliance with updated regulatory requirements.
The Solactive USD High Yield Corporates Total Market Index is designed to track the performance of the segment of the U.S. dollar-denominated high yield liquid corporate bonds.
The Solactive USD High Yield Corporates Total Market Index is a more narrowly based index that reflects the market sector in which the Fund invests.
Index returns do not reflect any fees or expenses and it is not possible to invest directly into an index.
Cumulative Growth of an Assumed $10,000 Investment
| Xtrackers High Beta High Yield Bond ETF - NAV | Solactive USD High Yield Corporates Total Market High Beta Index (the Underlying Index) | Bloomberg U.S. Universal Bond Index | Solactive USD High Yield Corporates Total Market Index |
|---|
| 1/11/18 | $10,000 | $10,000 | $10,000 | $10,000 |
| 1/31/18 | $10,000 | $10,011 | $9,939 | $9,994 |
| 2/28/18 | $9,905 | $9,914 | $9,845 | $9,906 |
| 3/31/18 | $9,808 | $9,821 | $9,895 | $9,846 |
| 4/30/18 | $9,908 | $9,921 | $9,829 | $9,914 |
| 5/31/18 | $9,934 | $9,944 | $9,882 | $9,928 |
| 6/30/18 | $10,000 | $10,008 | $9,868 | $9,966 |
| 7/31/18 | $10,134 | $10,147 | $9,889 | $10,087 |
| 8/31/18 | $10,206 | $10,214 | $9,937 | $10,157 |
| 9/30/18 | $10,275 | $10,288 | $9,895 | $10,212 |
| 10/31/18 | $10,045 | $10,064 | $9,812 | $10,053 |
| 11/30/18 | $9,932 | $9,949 | $9,856 | $9,993 |
| 12/31/18 | $9,621 | $9,643 | $10,010 | $9,774 |
| 1/31/19 | $10,158 | $10,183 | $10,148 | $10,237 |
| 2/28/19 | $10,373 | $10,394 | $10,159 | $10,406 |
| 3/31/19 | $10,467 | $10,490 | $10,343 | $10,506 |
| 4/30/19 | $10,646 | $10,669 | $10,357 | $10,637 |
| 5/31/19 | $10,433 | $10,457 | $10,516 | $10,497 |
| 6/30/19 | $10,744 | $10,761 | $10,665 | $10,766 |
| 7/31/19 | $10,800 | $10,820 | $10,696 | $10,818 |
| 8/31/19 | $10,805 | $10,814 | $10,939 | $10,866 |
| 9/30/19 | $10,820 | $10,836 | $10,891 | $10,888 |
| 10/31/19 | $10,855 | $10,867 | $10,926 | $10,926 |
| 11/30/19 | $10,858 | $10,884 | $10,924 | $10,958 |
| 12/31/19 | $11,190 | $11,215 | $10,940 | $11,175 |
| 1/31/20 | $11,125 | $11,148 | $11,137 | $11,146 |
| 2/29/20 | $10,877 | $10,897 | $11,304 | $10,960 |
| 3/31/20 | $9,552 | $9,510 | $11,083 | $9,840 |
| 4/30/20 | $9,785 | $9,759 | $11,305 | $10,185 |
| 5/31/20 | $10,307 | $10,278 | $11,410 | $10,610 |
| 6/30/20 | $10,363 | $10,329 | $11,506 | $10,630 |
| 7/31/20 | $10,906 | $10,871 | $11,708 | $11,142 |
| 8/31/20 | $11,063 | $11,028 | $11,640 | $11,223 |
| 9/30/20 | $10,929 | $10,904 | $11,619 | $11,099 |
| 10/31/20 | $10,933 | $10,923 | $11,578 | $11,132 |
| 11/30/20 | $11,521 | $11,510 | $11,729 | $11,551 |
| 12/31/20 | $11,824 | $11,800 | $11,769 | $11,752 |
| 1/31/21 | $11,856 | $11,834 | $11,695 | $11,765 |
| 2/28/21 | $11,902 | $11,882 | $11,544 | $11,775 |
| 3/31/21 | $11,973 | $11,960 | $11,410 | $11,822 |
| 4/30/21 | $12,108 | $12,090 | $11,506 | $11,932 |
| 5/31/21 | $12,129 | $12,106 | $11,550 | $11,953 |
| 6/30/21 | $12,283 | $12,269 | $11,634 | $12,094 |
| 7/31/21 | $12,292 | $12,278 | $11,751 | $12,120 |
| 8/31/21 | $12,358 | $12,352 | $11,743 | $12,189 |
| 9/30/21 | $12,371 | $12,362 | $11,643 | $12,181 |
| 10/31/21 | $12,313 | $12,303 | $11,633 | $12,142 |
| 11/30/21 | $12,140 | $12,126 | $11,647 | $12,011 |
| 12/31/21 | $12,449 | $12,438 | $11,639 | $12,258 |
| 1/31/22 | $12,059 | $12,048 | $11,384 | $11,910 |
| 2/28/22 | $11,948 | $11,941 | $11,229 | $11,813 |
| 3/31/22 | $11,859 | $11,855 | $10,928 | $11,724 |
| 4/30/22 | $11,331 | $11,318 | $10,520 | $11,269 |
| 5/31/22 | $11,322 | $11,307 | $10,578 | $11,366 |
| 6/30/22 | $10,394 | $10,375 | $10,367 | $10,561 |
| 7/31/22 | $11,131 | $11,116 | $10,627 | $11,256 |
| 8/31/22 | $10,805 | $10,802 | $10,351 | $10,904 |
| 9/30/22 | $10,315 | $10,297 | $9,905 | $10,471 |
| 10/31/22 | $10,715 | $10,697 | $9,796 | $10,820 |
| 11/30/22 | $10,882 | $10,872 | $10,162 | $11,003 |
| 12/31/22 | $10,768 | $10,748 | $10,127 | $10,910 |
| 1/31/23 | $11,274 | $11,267 | $10,441 | $11,338 |
| 2/28/23 | $11,130 | $11,127 | $10,185 | $11,168 |
| 3/31/23 | $11,151 | $11,147 | $10,424 | $11,327 |
| 4/30/23 | $11,257 | $11,253 | $10,487 | $11,407 |
| 5/31/23 | $11,118 | $11,118 | $10,379 | $11,279 |
| 6/30/23 | $11,424 | $11,421 | $10,362 | $11,476 |
| 7/31/23 | $11,622 | $11,627 | $10,373 | $11,628 |
| 8/31/23 | $11,681 | $11,687 | $10,310 | $11,659 |
| 9/30/23 | $11,558 | $11,561 | $10,064 | $11,519 |
| 10/31/23 | $11,319 | $11,331 | $9,913 | $11,379 |
| 11/30/23 | $11,879 | $11,893 | $10,359 | $11,900 |
| 12/31/23 | $12,426 | $12,436 | $10,752 | $12,342 |
| 1/31/24 | $12,379 | $12,392 | $10,727 | $12,317 |
| 2/29/24 | $12,467 | $12,483 | $10,598 | $12,349 |
| 3/31/24 | $12,612 | $12,621 | $10,702 | $12,485 |
| 4/30/24 | $12,470 | $12,481 | $10,452 | $12,359 |
| 5/31/24 | $12,608 | $12,617 | $10,625 | $12,501 |
| 6/30/24 | $12,712 | $12,720 | $10,722 | $12,619 |
| 7/31/24 | $13,041 | $13,058 | $10,966 | $12,881 |
| 8/31/24 | $13,266 | $13,271 | $11,127 | $13,087 |
Yearly periods ended August 31
| Fund/Index | 1-Year | 5-Year | Since Inception 1/11/18 |
|---|
| Xtrackers High Beta High Yield Bond ETF - NAV | 13.58% | 4.19% | 4.35% |
| Xtrackers High Beta High Yield Bond ETF - Market | 13.26% | 4.18% | 4.31% |
| Solactive USD High Yield Corporates Total Market High Beta Index | 13.55% | 4.18% | 4.35% |
| Bloomberg U.S. Universal Bond Index | 7.92% | 0.34% | 1.62% |
| Solactive USD High Yield Corporates Total Market Index | 12.25% | 3.79% | 4.13% |
Average Annual Total Returns
Performance shown is historical. The Fund's past performance is not a good predictor or guarantee of the Fund's future performance. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. The performance graph and returns table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares. Shares are bought and sold at market price (closing price) not net asset value (NAV) and are not individually redeemed from the Fund. Market Price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined) and do not represent the return you would receiveif you traded at other times. To obtain the most recent month-end performance data visit etf.dws.com/en-us/etf-products or call (844) 851-4255.
| Net Assets ($) | 12,581,744 |
| Number of Portfolio Holdings | 610 |
| Portfolio Turnover Rate (%) | 52 |
| Total Net Advisory Fees Paid ($) | 24,084 |
| Modified duration to worst | 3.3 years |
Modified duration to worst is the measure of sensitivity of the prices of bonds held by the Fund to a change in interest rates, computed using each bond's nearest call or maturity date.
What did the Fund invest in?
The quality ratings represent the higher 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.
Holding based data is subject to change.
Credit Quality Diversification
| Credit Rating | % of Net Assets |
|---|
| BBB | 2% |
| BB | 50% |
| B | 33% |
| CCC | 14% |
| Sector | % of Net Assets |
|---|
| Communications | 26% |
| Consumer, Cyclical | 15% |
| Energy | 14% |
| Consumer, Non-cyclical | 13% |
| Financial | 12% |
| Industrial | 6% |
| Basic Materials | 5% |
| Technology | 4% |
| Utilities | 2% |
| Diversified | 0% |
Geographic Diversification
| Country | % of Net Assets |
|---|
| United States | 79% |
| Canada | 5% |
| Luxembourg | 3% |
| United Kingdom | 2% |
| France | 2% |
| Other | 7% |
This is a summary of certain changes of the Fund since September 1, 2023. For more information, review the Fund's current prospectus at dws.com/etfreports, or by calling (844) 851-4255.
Effective August 13, 2024, the Fund’s unitary advisory fee was reduced from 0.35% to 0.20%. At the same time, the Board terminated the contractual expense limitation that capped the fund’s operating expenses at the same level because of the redundancy.
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, and financial statements and other information, please visit dws.com/etfreports. For information about the Fund's proxy voting policies and procedures and how the Fund voted proxies related to its portfolio securities, please visit dws.com/en-us/resources/proxy-voting. This additional information is also available free of charge by contacting us at (844) 851-4255.
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
Bond investments are subject to interest rate, credit, liquidity and market risks to varying degrees. When interest rates rise, bond prices generally fall. Credit risk refers to the ability of an issuer to make timely payments of principal and interest. Investing involves risk, including the possible loss of principal. 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. 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 (or group of industries), 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. Performance of the Fund 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 this 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. See the prospectus for details.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's investment objectives, risk factors, and charges and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (844) 851‑4255, or visit dws.com/etfreports to view or download a prospectus. Please read the prospectus carefully before you invest.
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.
© 2024 DWS Group. All rights reserved. Xtrackers™ is a trademark of DWS Investment GmbH. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
HYUP-TSRA
R-102629-1 (10/24) DBX006188 (10/25)
Xtrackers Low Beta High Yield Bond ETF
Annual Shareholder Report — August 31, 2024
What were the Fund costs for the last year?
(Based on a hypothetical $10,000 investment)
| Fund | Cost of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|
| HYDW | $21 | 0.20% |
Gross expense ratio as of the latest prospectus: 0.20%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
This annual shareholder report contains important information about the Xtrackers Low Beta High Yield Bond ETF ("the Fund") for the period September 1, 2023 to August 31, 2024. You can find additional information about the Fund at dws.com/etfreports. You can also request this information by contacting us at (844) 851‐4255.
This report describes changes to the Fund that occurred during the reporting period.
How did the fund perform last year and what affected its performance?
The Fund seeks investment results that correspond generally to the performance, before fees and expenses, of the Fund’s underlying index, the Solactive USD High Yield Corporates Total Market Low Beta Index. The Underlying Index is designed to track the performance of the segment of the U.S. dollar denominated high yield corporate bond market that exhibits lower overall beta to the broader high yield corporate fixed income market.
The Fund returned 10.68% for the period ended August 31, 2024. The Fund's underlying index returned 10.78% and the Fund's broad-based index the Bloomberg U.S. Universal Bond Index returned 7.92% during the same period, while the Fund's additional, more narrowly based index, the Solactive USD High Yield Corporates Total Market Index, returned 12.25%.
All sectors contributed positively to performance during the period with the greatest contribution coming from Consumer Cyclical, Consumer Non-Cyclical and Capital Goods.
Solactive USD High Yield Corporates Total Market Low Beta Index is designed to track the performance of the segment of the U.S. dollar denominated high yield corporate bond market that exhibits lower overall beta to the broader high yield corporate fixed income market.
Bloomberg U.S. Universal Bond Index measures the performance of U.S. dollar-denominated taxable bonds that are rated either investment grade or high yield. The index includes U.S. Treasury bonds, investment-grade and high yield U.S. corporate bonds, mortgage-backed securities, and Eurodollar bonds.
The Bloomberg U.S. Universal Bond Index is a broad-based index that represents the fund’s overall debt market. It replaces The Solactive USD High Yield Corporates Total Market Index as the Fund's broad-based index in compliance with updated regulatory requirements.
The Solactive USD High Yield Corporates Total Market Index is designed to track the performance of the segment of the U.S. dollar-denominated high yield liquid corporate bonds.
The Solactive USD High Yield Corporates Total Market Index is a more narrowly based index that reflects the market sector in which the Fund invests.
Index returns do not reflect any fees or expenses and it is not possible to invest directly into an index.
Cumulative Growth of an Assumed $10,000 Investment
| Xtrackers Low Beta High Yield Bond ETF - NAV | Solactive USD High Yield Corporates Total Market Low Beta Index (the Underlying Index) | Bloomberg U.S. Universal Bond Index | Solactive USD High Yield Corporates Total Market Index |
|---|
| 1/11/18 | $10,000 | $10,000 | $10,000 | $10,000 |
| 1/31/18 | $9,972 | $9,980 | $9,939 | $9,994 |
| 2/28/18 | $9,894 | $9,899 | $9,845 | $9,906 |
| 3/31/18 | $9,867 | $9,877 | $9,895 | $9,846 |
| 4/30/18 | $9,892 | $9,905 | $9,829 | $9,914 |
| 5/31/18 | $9,892 | $9,906 | $9,882 | $9,928 |
| 6/30/18 | $9,905 | $9,913 | $9,868 | $9,966 |
| 7/31/18 | $9,998 | $10,011 | $9,889 | $10,087 |
| 8/31/18 | $10,072 | $10,083 | $9,937 | $10,157 |
| 9/30/18 | $10,103 | $10,115 | $9,895 | $10,212 |
| 10/31/18 | $10,006 | $10,027 | $9,812 | $10,053 |
| 11/30/18 | $10,012 | $10,029 | $9,856 | $9,993 |
| 12/31/18 | $9,894 | $9,912 | $10,010 | $9,774 |
| 1/31/19 | $10,256 | $10,278 | $10,148 | $10,237 |
| 2/28/19 | $10,371 | $10,394 | $10,159 | $10,406 |
| 3/31/19 | $10,473 | $10,497 | $10,343 | $10,506 |
| 4/30/19 | $10,543 | $10,569 | $10,357 | $10,637 |
| 5/31/19 | $10,490 | $10,513 | $10,516 | $10,497 |
| 6/30/19 | $10,713 | $10,737 | $10,665 | $10,766 |
| 7/31/19 | $10,752 | $10,779 | $10,696 | $10,818 |
| 8/31/19 | $10,863 | $10,882 | $10,939 | $10,866 |
| 9/30/19 | $10,879 | $10,901 | $10,891 | $10,888 |
| 10/31/19 | $10,921 | $10,944 | $10,926 | $10,926 |
| 11/30/19 | $10,962 | $10,988 | $10,924 | $10,958 |
| 12/31/19 | $11,041 | $11,073 | $10,940 | $11,175 |
| 1/31/20 | $11,053 | $11,082 | $11,137 | $11,146 |
| 2/29/20 | $10,934 | $10,959 | $11,304 | $10,960 |
| 3/31/20 | $10,148 | $10,121 | $11,083 | $9,840 |
| 4/30/20 | $10,578 | $10,564 | $11,305 | $10,185 |
| 5/31/20 | $10,876 | $10,853 | $11,410 | $10,610 |
| 6/30/20 | $10,857 | $10,838 | $11,506 | $10,630 |
| 7/31/20 | $11,332 | $11,316 | $11,708 | $11,142 |
| 8/31/20 | $11,336 | $11,324 | $11,640 | $11,223 |
| 9/30/20 | $11,209 | $11,195 | $11,619 | $11,099 |
| 10/31/20 | $11,254 | $11,240 | $11,578 | $11,132 |
| 11/30/20 | $11,502 | $11,494 | $11,729 | $11,551 |
| 12/31/20 | $11,620 | $11,609 | $11,769 | $11,752 |
| 1/31/21 | $11,611 | $11,601 | $11,695 | $11,765 |
| 2/28/21 | $11,585 | $11,574 | $11,544 | $11,775 |
| 3/31/21 | $11,593 | $11,590 | $11,410 | $11,822 |
| 4/30/21 | $11,682 | $11,677 | $11,506 | $11,932 |
| 5/31/21 | $11,706 | $11,699 | $11,550 | $11,953 |
| 6/30/21 | $11,819 | $11,815 | $11,634 | $12,094 |
| 7/31/21 | $11,863 | $11,857 | $11,751 | $12,120 |
| 8/31/21 | $11,917 | $11,920 | $11,743 | $12,189 |
| 9/30/21 | $11,888 | $11,891 | $11,643 | $12,181 |
| 10/31/21 | $11,868 | $11,870 | $11,633 | $12,142 |
| 11/30/21 | $11,783 | $11,783 | $11,647 | $12,011 |
| 12/31/21 | $11,956 | $11,957 | $11,639 | $12,258 |
| 1/31/22 | $11,656 | $11,658 | $11,384 | $11,910 |
| 2/28/22 | $11,570 | $11,570 | $11,229 | $11,813 |
| 3/31/22 | $11,480 | $11,482 | $10,928 | $11,724 |
| 4/30/22 | $11,114 | $11,114 | $10,520 | $11,269 |
| 5/31/22 | $11,332 | $11,332 | $10,578 | $11,366 |
| 6/30/22 | $10,681 | $10,676 | $10,367 | $10,561 |
| 7/31/22 | $11,319 | $11,312 | $10,627 | $11,256 |
| 8/31/22 | $10,922 | $10,922 | $10,351 | $10,904 |
| 9/30/22 | $10,577 | $10,568 | $9,905 | $10,471 |
| 10/31/22 | $10,865 | $10,861 | $9,796 | $10,820 |
| 11/30/22 | $11,042 | $11,045 | $10,162 | $11,003 |
| 12/31/22 | $10,996 | $10,986 | $10,127 | $10,910 |
| 1/31/23 | $11,313 | $11,314 | $10,441 | $11,338 |
| 2/28/23 | $11,114 | $11,117 | $10,185 | $11,168 |
| 3/31/23 | $11,401 | $11,406 | $10,424 | $11,327 |
| 4/30/23 | $11,458 | $11,462 | $10,487 | $11,407 |
| 5/31/23 | $11,331 | $11,341 | $10,379 | $11,279 |
| 6/30/23 | $11,426 | $11,435 | $10,362 | $11,476 |
| 7/31/23 | $11,515 | $11,529 | $10,373 | $11,628 |
| 8/31/23 | $11,517 | $11,531 | $10,310 | $11,659 |
| 9/30/23 | $11,366 | $11,375 | $10,064 | $11,519 |
| 10/31/23 | $11,307 | $11,322 | $9,913 | $11,379 |
| 11/30/23 | $11,782 | $11,803 | $10,359 | $11,900 |
| 12/31/23 | $12,115 | $12,134 | $10,752 | $12,342 |
| 1/31/24 | $12,106 | $12,131 | $10,727 | $12,317 |
| 2/29/24 | $12,082 | $12,107 | $10,598 | $12,349 |
| 3/31/24 | $12,215 | $12,240 | $10,702 | $12,485 |
| 4/30/24 | $12,106 | $12,133 | $10,452 | $12,359 |
| 5/31/24 | $12,247 | $12,276 | $10,625 | $12,501 |
| 6/30/24 | $12,378 | $12,407 | $10,722 | $12,619 |
| 7/31/24 | $12,542 | $12,577 | $10,966 | $12,881 |
| 8/31/24 | $12,746 | $12,773 | $11,127 | $13,087 |
Yearly periods ended August 31
| Fund/Index | 1-Year | 5-Year | Since Inception 1/11/18 |
|---|
| Xtrackers Low Beta High Yield Bond ETF - NAV | 10.68% | 3.25% | 3.72% |
| Xtrackers Low Beta High Yield Bond ETF - Market | 10.62% | 3.28% | 3.72% |
| Solactive USD High Yield Corporates Total Market Low Beta Index | 10.78% | 3.26% | 3.75% |
| Bloomberg U.S. Universal Bond Index | 7.92% | 0.34% | 1.62% |
| Solactive USD High Yield Corporates Total Market Index | 12.25% | 3.79% | 4.13% |
Average Annual Total Returns
Performance shown is historical. The Fund's past performance is not a good predictor or guarantee of the Fund's future performance. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. The performance graph and returns table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares. Shares are bought and sold at market price (closing price) not net asset value (NAV) and are not individually redeemed from the Fund. Market Price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined) and do not represent the return you would receiveif you traded at other times. To obtain the most recent month-end performance data visit etf.dws.com/en-us/etf-products or call (844) 851-4255.
| Net Assets ($) | 221,123,671 |
| Number of Portfolio Holdings | 510 |
| Portfolio Turnover Rate (%) | 50 |
| Total Net Advisory Fees Paid ($) | 430,579 |
| Modified duration to worst | 3.3 years |
Modified duration to worst is the measure of sensitivity of the prices of bonds held by the Fund to a change in interest rates, computed using each bond's nearest call or maturity date.
What did the Fund invest in?
The quality ratings represent the higher 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.
Holding based data is subject to change.
Credit Quality Diversification
| Credit Rating | % of Net Assets |
|---|
| BBB | 7% |
| BB | 80% |
| B | 12% |
| CCC | 0% |
| Sector | % of Net Assets |
|---|
| Consumer, Non-cyclical | 22% |
| Consumer, Cyclical | 21% |
| Industrial | 14% |
| Financial | 12% |
| Energy | 11% |
| Technology | 6% |
| Communications | 5% |
| Basic Materials | 4% |
| Utilities | 3% |
Geographic Diversification
| Country | % of Net Assets |
|---|
| United States | 86% |
| Canada | 5% |
| Netherlands | 2% |
| Other | 5% |
This is a summary of certain changes of the Fund since September 1, 2023. For more information, review the Fund's current prospectus at dws.com/etfreports, or by calling (844) 851-4255.
Effective August 13, 2024, the Fund’s unitary advisory fee was reduced from 0.25% to 0.20%. At the same time, the Board terminated the contractual expense limitation that capped the fund’s operating expenses at the same level because of the redundancy.
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, and financial statements and other information, please visit dws.com/etfreports. For information about the Fund's proxy voting policies and procedures and how the Fund voted proxies related to its portfolio securities, please visit dws.com/en-us/resources/proxy-voting. This additional information is also available free of charge by contacting us at (844) 851-4255.
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
Bond investments are subject to interest rate, credit, liquidity and market risks to varying degrees. When interest rates rise, bond prices generally fall. Credit risk refers to the ability of an issuer to make timely payments of principal and interest. Investing involves risk, including the possible loss of principal. Investments in lower-quality (“junk bonds”) and non-rated securities present greater risk of loss than investments in higher-quality securities. 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 (or group of industries), country or in a limited geographic region generally are more volatile than more diversified funds. Performance of the Fund 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 this 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. See the prospectus for details.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's investment objectives, risk factors, and charges and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (844) 851‑4255, or visit dws.com/etfreports to view or download a prospectus. Please read the prospectus carefully before you invest.
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.
© 2024 DWS Group. All rights reserved. Xtrackers™ is a trademark of DWS Investment GmbH. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
HYDW-TSRA
R-102630-1 (10/24) DBX006189 (10/25)
Xtrackers Risk Managed USD High Yield Strategy ETF
Annual Shareholder Report — August 31, 2024
What were the Fund costs for the last year?
(Based on a hypothetical $10,000 investment)
| Fund | Cost of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|
| HYRM | $24 | 0.23% |
Gross expense ratio as of the latest prospectus: 0.45%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher. Fund costs do not reflect expenses of the underlying funds in which the Fund invests.
This annual shareholder report contains important information about the Xtrackers Risk Managed USD High Yield Strategy ETF ("the Fund") for the period September 1, 2023 to August 31, 2024. You can find additional information about the Fund at dws.com/etfreports. You can also request this information by contacting us at (844) 851‐4255.
How did the fund perform last year and what affected its performance?
The Fund seeks investment results that correspond generally to the performance, before fees and expenses, of the Fund’s underlying index, the Adaptive Wealth Strategies Risk Managed High Yield 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.
The Fund returned 11.92% for the period ended August 31, 2024. The Fund's underlying index returned 12.25% and the Fund's broad-based index the Bloomberg U.S. Universal Bond Index returned 7.92% during the same period, while the Fund's additional, more narrowly based index, the Solactive USD High Yield Corporates Total Market Index, returned 12.25%.
All sectors contributed positively to performance during the period with the greatest contribution coming from Consumer Cyclical, Consumer Non-Cyclical and Communications.
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.
Bloomberg U.S. Universal Bond Index measures the performance of U.S. dollar-denominated taxable bonds that are rated either investment grade or high yield. The index includes U.S. Treasury bonds, investment-grade and high yield U.S. corporate bonds, mortgage-backed securities, and Eurodollar bonds.
The Bloomberg U.S. Universal Bond Index is a broad-based index that represents the fund’s overall debt market. It replaces The Solactive USD High Yield Corporates Total Market Index as the Fund's broad-based index in compliance with updated regulatory requirements.
The Solactive USD High Yield Corporates Total Market Index is designed to track the performance of the segment of the U.S. dollar-denominated high yield liquid corporate bonds.
The Solactive USD High Yield Corporates Total Market Index is a more narrowly based index that reflects the market sector in which the Fund invests.
Index returns do not reflect any fees or expenses and it is not possible to invest directly into an index.
Cumulative Growth of an Assumed $10,000 Investment
| Xtrackers Risk Managed USD High Yield ETF - NAV | Adaptive Wealth Strategies Risk Managed High Yield Index (the Underlying Index) | Bloomberg U.S. Universal Bond Index | Solactive USD High Yield Corporates Total Market Index |
|---|
| 2/10/22 | $10,000 | $10,000 | $10,000 | $10,000 |
| 2/28/22 | $9,949 | $9,915 | $10,044 | $9,915 |
| 3/31/22 | $9,830 | $9,840 | $9,774 | $9,840 |
| 4/30/22 | $9,409 | $9,458 | $9,410 | $9,458 |
| 5/31/22 | $9,589 | $9,540 | $9,462 | $9,540 |
| 6/30/22 | $8,898 | $8,864 | $9,272 | $8,864 |
| 7/31/22 | $9,483 | $9,447 | $9,506 | $9,447 |
| 8/31/22 | $9,087 | $9,152 | $9,258 | $9,152 |
| 9/30/22 | $8,761 | $8,789 | $8,860 | $8,789 |
| 10/31/22 | $9,057 | $9,082 | $8,762 | $9,081 |
| 11/30/22 | $9,343 | $9,234 | $9,089 | $9,234 |
| 12/31/22 | $9,178 | $9,157 | $9,058 | $9,157 |
| 1/31/23 | $9,521 | $9,516 | $9,339 | $9,516 |
| 2/28/23 | $9,347 | $9,373 | $9,110 | $9,373 |
| 3/31/23 | $9,550 | $9,507 | $9,323 | $9,507 |
| 4/30/23 | $9,558 | $9,574 | $9,380 | $9,574 |
| 5/31/23 | $9,436 | $9,466 | $9,283 | $9,466 |
| 6/30/23 | $9,624 | $9,632 | $9,269 | $9,632 |
| 7/31/23 | $9,723 | $9,760 | $9,278 | $9,759 |
| 8/31/23 | $9,747 | $9,785 | $9,222 | $9,785 |
| 9/30/23 | $9,601 | $9,668 | $9,002 | $9,668 |
| 10/31/23 | $9,503 | $9,550 | $8,867 | $9,550 |
| 11/30/23 | $9,941 | $9,988 | $9,266 | $9,988 |
| 12/31/23 | $10,269 | $10,359 | $9,617 | $10,359 |
| 1/31/24 | $10,273 | $10,338 | $9,594 | $10,338 |
| 2/29/24 | $10,305 | $10,364 | $9,479 | $10,364 |
| 3/31/24 | $10,415 | $10,479 | $9,572 | $10,479 |
| 4/30/24 | $10,281 | $10,373 | $9,349 | $10,373 |
| 5/31/24 | $10,437 | $10,469 | $9,504 | $10,492 |
| 6/30/24 | $10,498 | $10,591 | $9,591 | $10,591 |
| 7/31/24 | $10,741 | $10,811 | $9,808 | $10,811 |
| 8/31/24 | $10,908 | $10,984 | $9,953 | $10,984 |
| Fund/Index | 1-Year | Since Inception 2/10/22 |
|---|
| Xtrackers Risk Managed USD High Yield ETF - NAV | 11.92% | 3.46% |
| Xtrackers Risk Managed USD High Yield ETF - Market | 11.88% | 3.45% |
| Adaptive Wealth Strategies Risk Managed High Yield Index | 12.25% | 3.74% |
| Bloomberg U.S. Universal Bond Index | 7.92% | -0.19% |
| Solactive USD High Yield Corporates Total Market Index | 12.25% | 3.74% |
Average Annual Total Returns
Performance shown is historical. The Fund's past performance is not a good predictor or guarantee of the Fund's future performance. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. The performance graph and returns table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares. Shares are bought and sold at market price (closing price) not net asset value (NAV) and are not individually redeemed from the Fund. Market Price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined) and do not represent the return you would receiveif you traded at other times. To obtain the most recent month-end performance data visit etf.dws.com/en-us/etf-products or call (844) 851-4255.
| Net Assets ($) | 42,722,249 |
| Number of Portfolio Holdings | 3 |
| Portfolio Turnover Rate (%) | 0 |
| Total Net Advisory Fees Paid ($) | 98,548 |
| Modified duration to worst | 3.3 years |
Modified duration to worst is the measure of sensitivity of the prices of bonds held by the Fund to a change in interest rates, computed using each bond's nearest call or maturity date.
What did the Fund invest in?
The quality ratings represent the higher 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.
Holding based data is subject to change.
Credit Quality Diversification
| Credit Rating | % of Net Assets |
|---|
| BBB | 4% |
| BB | 63% |
| B | 24% |
| CCC | 8% |
| Sector | % of Net Assets |
|---|
| Communications | 17% |
| Consumer, Cyclical | 17% |
| Consumer, Non-cyclical | 17% |
| Energy | 13% |
| Financial | 12% |
| Industrial | 9% |
| Technology | 5% |
| Basic Materials | 5% |
| Utilities | 3% |
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, and financial statements and other information, please visit dws.com/etfreports. For information about the Fund's proxy voting policies and procedures and how the Fund voted proxies related to its portfolio securities, please visit dws.com/en-us/resources/proxy-voting. This additional information is also available free of charge by contacting us at (844) 851-4255.
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
Bond investments are subject to interest rate, credit, liquidity and market risks to varying degrees. When interest rates rise, bond prices generally fall. Credit risk refers to the ability of an issuer to make timely payments of principal and interest. 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 (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. This Fund is non-diversified and can take larger positions in fewer issues, increasing its potential risk. Performance of the Fund 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 this 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.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's investment objectives, risk factors, and charges and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (844) 851‑4255, or visit dws.com/etfreports to view or download a prospectus. Please read the prospectus carefully before you invest.
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.
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.
© 2024 DWS Group. All rights reserved. Xtrackers™ is a trademark of DWS Investment GmbH. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
HYRM-TSRA
R-102631-1 (10/24) DBX006190 (10/25)
Xtrackers Short Duration High Yield Bond ETF
Annual Shareholder Report — August 31, 2024
What were the Fund costs for the last year?
(Based on a hypothetical $10,000 investment)
| Fund | Cost of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|
| SHYL | $21 | 0.20% |
Gross expense ratio as of the latest prospectus: 0.20%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
This annual shareholder report contains important information about the Xtrackers Short Duration High Yield Bond ETF ("the Fund") for the period September 1, 2023 to August 31, 2024. You can find additional information about the Fund at dws.com/etfreports. You can also request this information by contacting us at (844) 851‐4255.
How did the fund perform last year and what affected its performance?
The Fund seeks investment results that correspond generally to the performance, before fees and expenses, of the Fund’s underlying index, the Solactive USD High Yield Corporates Total Market 0-5 Year Index. The Underlying Index is designed to track the performance of short-term publicly issued US dollar denominated below investment grade corporate debt.
The Fund returned 11.25% for the period ended August 31, 2024. The Fund's underlying index returned 11.27% and the Fund's broad-based index the Bloomberg U.S. Universal Bond Index returned 7.92% during the same period, while the Fund's additional, more narrowly based index, the Solactive USD High Yield Corporates Total Market Index, returned 12.25%.
All sectors contributed positively to performance during the period with the greatest contribution coming from Consumer Cyclical Consumer Non-Cyclical and Communications.
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.
Bloomberg U.S. Universal Bond Index measures the performance of U.S. dollar-denominated taxable bonds that are rated either investment grade or high yield. The index includes U.S. Treasury bonds, investment-grade and high yield U.S. corporate bonds, mortgage-backed securities, and Eurodollar bonds.
The Bloomberg U.S. Universal Bond Index is a broad-based index that represents the fund’s overall debt market. It replaces The Solactive USD High Yield Corporates Total Market Index as the Fund's broad-based index in compliance with updated regulatory requirements.
The Solactive USD High Yield Corporates Total Market Index is designed to track the performance of the segment of the U.S. dollar-denominated high yield liquid corporate bonds.
The Solactive USD High Yield Corporates Total Market Index is a more narrowly based index that reflects the market sector in which the Fund invests.
Index returns do not reflect any fees or expenses and it is not possible to invest directly into an index.
Cumulative Growth of an Assumed $10,000 Investment
| Xtrackers Short Duration High Yield Bond ETF - NAV | Solactive USD High Yield Corporates Total Market 0-5 Year Index (the Underlying Index) | Bloomberg U.S. Universal Bond Index | Solactive USD High Yield Corporates Total Market Index |
|---|
| 1/10/18 | $10,000 | $10,000 | $10,000 | $10,000 |
| 1/31/18 | $10,019 | $10,025 | $9,952 | $9,965 |
| 2/28/18 | $9,978 | $9,986 | $9,857 | $9,876 |
| 3/31/18 | $9,954 | $9,957 | $9,907 | $9,817 |
| 4/30/18 | $10,016 | $10,028 | $9,841 | $9,884 |
| 5/31/18 | $10,055 | $10,065 | $9,895 | $9,898 |
| 6/30/18 | $10,093 | $10,098 | $9,880 | $9,936 |
| 7/31/18 | $10,188 | $10,198 | $9,901 | $10,057 |
| 8/31/18 | $10,247 | $10,249 | $9,950 | $10,126 |
| 9/30/18 | $10,308 | $10,311 | $9,907 | $10,181 |
| 10/31/18 | $10,177 | $10,192 | $9,824 | $10,023 |
| 11/30/18 | $10,140 | $10,147 | $9,868 | $9,963 |
| 12/31/18 | $9,939 | $9,948 | $10,023 | $9,745 |
| 1/31/19 | $10,315 | $10,320 | $10,161 | $10,206 |
| 2/28/19 | $10,458 | $10,463 | $10,172 | $10,374 |
| 3/31/19 | $10,514 | $10,519 | $10,356 | $10,475 |
| 4/30/19 | $10,597 | $10,601 | $10,370 | $10,606 |
| 5/31/19 | $10,504 | $10,503 | $10,529 | $10,465 |
| 6/30/19 | $10,676 | $10,680 | $10,678 | $10,734 |
| 7/31/19 | $10,714 | $10,719 | $10,710 | $10,786 |
| 8/31/19 | $10,735 | $10,734 | $10,952 | $10,833 |
| 9/30/19 | $10,741 | $10,747 | $10,905 | $10,856 |
| 10/31/19 | $10,761 | $10,770 | $10,940 | $10,894 |
| 11/30/19 | $10,747 | $10,772 | $10,938 | $10,925 |
| 12/31/19 | $10,931 | $10,966 | $10,954 | $11,141 |
| 1/31/20 | $10,905 | $10,940 | $11,151 | $11,113 |
| 2/29/20 | $10,763 | $10,804 | $11,318 | $10,927 |
| 3/31/20 | $9,732 | $9,700 | $11,097 | $9,810 |
| 4/30/20 | $9,926 | $9,970 | $11,319 | $10,154 |
| 5/31/20 | $10,241 | $10,278 | $11,425 | $10,578 |
| 6/30/20 | $10,314 | $10,352 | $11,520 | $10,598 |
| 7/31/20 | $10,699 | $10,734 | $11,722 | $11,109 |
| 8/31/20 | $10,796 | $10,832 | $11,655 | $11,190 |
| 9/30/20 | $10,721 | $10,759 | $11,634 | $11,065 |
| 10/31/20 | $10,753 | $10,789 | $11,592 | $11,099 |
| 11/30/20 | $11,119 | $11,160 | $11,743 | $11,516 |
| 12/31/20 | $11,308 | $11,345 | $11,784 | $11,717 |
| 1/31/21 | $11,357 | $11,393 | $11,710 | $11,730 |
| 2/28/21 | $11,420 | $11,457 | $11,559 | $11,775 |
| 3/31/21 | $11,499 | $11,546 | $11,424 | $11,787 |
| 4/30/21 | $11,594 | $11,641 | $11,520 | $11,896 |
| 5/31/21 | $11,634 | $11,679 | $11,564 | $11,917 |
| 6/30/21 | $11,721 | $11,775 | $11,648 | $12,057 |
| 7/31/21 | $11,715 | $11,769 | $11,765 | $12,084 |
| 8/31/21 | $11,753 | $11,823 | $11,758 | $12,153 |
| 9/30/21 | $11,768 | $11,839 | $11,657 | $12,144 |
| 10/31/21 | $11,773 | $11,846 | $11,648 | $12,106 |
| 11/30/21 | $11,673 | $11,744 | $11,662 | $11,975 |
| 12/31/21 | $11,832 | $11,911 | $11,654 | $12,221 |
| 1/31/22 | $11,644 | $11,721 | $11,398 | $11,874 |
| 2/28/22 | $11,586 | $11,658 | $11,243 | $11,778 |
| 3/31/22 | $11,556 | $11,630 | $10,941 | $11,689 |
| 4/30/22 | $11,308 | $11,375 | $10,533 | $11,235 |
| 5/31/22 | $11,355 | $11,422 | $10,591 | $11,332 |
| 6/30/22 | $10,759 | $10,815 | $10,380 | $10,530 |
| 7/31/22 | $11,280 | $11,348 | $10,641 | $11,222 |
| 8/31/22 | $11,065 | $11,143 | $10,364 | $10,871 |
| 9/30/22 | $10,795 | $10,861 | $9,917 | $10,440 |
| 10/31/22 | $11,101 | $11,166 | $9,809 | $10,788 |
| 11/30/22 | $11,245 | $11,309 | $10,174 | $10,970 |
| 12/31/22 | $11,205 | $11,261 | $10,140 | $10,877 |
| 1/31/23 | $11,541 | $11,609 | $10,454 | $11,304 |
| 2/28/23 | $11,445 | $11,506 | $10,197 | $11,134 |
| 3/31/23 | $11,544 | $11,601 | $10,437 | $11,293 |
| 4/30/23 | $11,634 | $11,689 | $10,500 | $11,373 |
| 5/31/23 | $11,539 | $11,602 | $10,392 | $11,245 |
| 6/30/23 | $11,731 | $11,791 | $10,375 | $11,442 |
| 7/31/23 | $11,848 | $11,914 | $10,386 | $11,593 |
| 8/31/23 | $11,910 | $11,975 | $10,323 | $11,624 |
| 9/30/23 | $11,850 | $11,909 | $10,077 | $11,485 |
| 10/31/23 | $11,724 | $11,787 | $9,925 | $11,345 |
| 11/30/23 | $12,132 | $12,200 | $10,372 | $11,864 |
| 12/31/23 | $12,512 | $12,579 | $10,766 | $12,305 |
| 1/31/24 | $12,501 | $12,572 | $10,740 | $12,281 |
| 2/29/24 | $12,580 | $12,654 | $10,611 | $12,312 |
| 3/31/24 | $12,683 | $12,753 | $10,715 | $12,448 |
| 4/30/24 | $12,594 | $12,667 | $10,465 | $12,322 |
| 5/31/24 | $12,714 | $12,790 | $10,638 | $12,464 |
| 6/30/24 | $12,823 | $12,899 | $10,736 | $12,581 |
| 7/31/24 | $13,055 | $13,138 | $10,979 | $12,842 |
| 8/31/24 | $13,250 | $13,324 | $11,141 | $13,048 |
Yearly periods ended August 31
| Fund/Index | 1-Year | 5-Year | Since Inception 1/10/18 |
|---|
| Xtrackers Short Duration High Yield Bond ETF - NAV | 11.25% | 4.30% | 4.33% |
| Xtrackers Short Duration High Yield Bond ETF - Market | 11.13% | 4.36% | 4.34% |
| Solactive USD High Yield Corporates Total Market 0-5 Year Index | 11.27% | 4.42% | 4.41% |
| Bloomberg U.S. Universal Bond Index | 7.92% | 0.34% | 1.64% |
| Solactive USD High Yield Corporates Total Market Index | 12.25% | 3.79% | 4.08% |
Average Annual Total Returns
Performance shown is historical. The Fund's past performance is not a good predictor or guarantee of the Fund's future performance. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. The performance graph and returns table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares. Shares are bought and sold at market price (closing price) not net asset value (NAV) and are not individually redeemed from the Fund. Market Price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined) and do not represent the return you would receiveif you traded at other times. To obtain the most recent month-end performance data visit etf.dws.com/en-us/etf-products or call (844) 851-4255.
| Net Assets ($) | 103,573,358 |
| Number of Portfolio Holdings | 722 |
| Portfolio Turnover Rate (%) | 56 |
| Total Net Advisory Fees Paid ($) | 195,114 |
| Modified duration to worst | 2.6 years |
Modified duration to worst is the measure of sensitivity of the prices of bonds held by the Fund to a change in interest rates, computed using each bond's nearest call or maturity date.
What did the Fund invest in?
The quality ratings represent the higher 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.
Holding based data is subject to change.
Credit Quality Diversification
| Credit Rating | % of Net Assets |
|---|
| BBB | 4% |
| BB | 61% |
| B | 24% |
| CCC | 10% |
| Sector | % of Net Assets |
|---|
| Consumer, Cyclical | 19% |
| Communications | 18% |
| Consumer, Non-cyclical | 16% |
| Financial | 12% |
| Energy | 12% |
| Industrial | 9% |
| Basic Materials | 5% |
| Technology | 5% |
| Utilities | 3% |
| Diversified | 0% |
Geographic Diversification
| Country | % of Net Assets |
|---|
| United States | 80% |
| Canada | 6% |
| United Kingdom | 2% |
| Luxembourg | 2% |
| Netherlands | 2% |
| Other | 6% |
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, and financial statements and other information, please visit dws.com/etfreports. For information about the Fund's proxy voting policies and procedures and how the Fund voted proxies related to its portfolio securities, please visit dws.com/en-us/resources/proxy-voting. This additional information is also available free of charge by contacting us at (844) 851-4255.
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
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. Credit risk refers to the ability of an issuer to make timely payments of principal and interest. 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 (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. Performance of the Fund 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 this 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.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's investment objectives, risk factors, and charges and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (844) 851‑4255, or visit dws.com/etfreports to view or download a prospectus. Please read the prospectus carefully before you invest.
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.
© 2024 DWS Group. All rights reserved. Xtrackers™ is a trademark of DWS Investment GmbH. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
SHYL-TSRA
R-102632-1 (10/24) DBX006191 (10/25)
Xtrackers USD High Yield BB-B ex Financials ETF
BHYB : Cboe BZX Exchange, Inc.
Annual Shareholder Report — August 31, 2024
What were the Fund costs for the reporting period?
(Based on a hypothetical $10,000 investment)
| Fund | Cost of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|
| BHYB | $19Footnote Reference(a) | 0.21% |
(a) Based on the period October 27, 2023 (commencement of operations) through August 31, 2024. Expenses would have been higher if the Fund had been in existence for the full reporting period.
Gross expense ratio as of the latest prospectus: 0.20%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
This annual shareholder report contains important information about the Xtrackers USD High Yield BB-B ex Financials ETF ("the Fund") for the period October 27, 2023 to August 31, 2024. You can find additional information about the Fund at dws.com/etfreports. You can also request this information by contacting us at (844) 851‐4255.
How did the fund perform last year and what affected its performance?
The Fund seeks investment results that correspond generally to the performance, before fees and expenses, of the Fund’s underlying index, the ICE BofA BB-B Non-FNCL Non-Distressed US HY Constrained Index. The Underlying Index is a subset of the ICE BofA US High Yield Index which is designed to track the performance of US dollar denominated below investment grade corporate debt publicly issued in the US domestic market.
The Fund returned 14.62% for the period ended August 31, 2024. The Fund's underlying index returned 14.74% and the Fund's broad-based index the Bloomberg U.S. Universal Bond Index returned 15.63% during the same period.
All sectors contributed positively to performance during the period with the greatest contribution coming from Consumer Cyclical, Consumer Non-Cyclical and Energy.
ICE BofA BB-B Non-FNCL Non-Distressed US HY Constrained Index is a subset of the ICE BofA US High Yield Index which is designed to track the performance of US dollar denominated below investment grade corporate debt publicly issued in the US domestic market.
Bloomberg U.S. Universal Bond Index measures the performance of U.S. dollar-denominated taxable bonds that are rated either investment grade or high yield. The index includes U.S. Treasury bonds, investment-grade and high yield U.S. corporate bonds, mortgage-backed securities, and Eurodollar bonds.
The Bloomberg U.S. Universal Bond Index is a broad-based index that represents the fund’s overall debt market.
Index returns do not reflect any fees or expenses and it is not possible to invest directly into an index.
Cumulative Growth of an Assumed $10,000 Investment
| Xtrackers USD High Yield BB-B ex Financials ETF - NAV | ICE BofA BB-B Non-FNCL Non-Distressed US HY Constrained Index (the Underlying Index) | Bloomberg U.S. Universal Bond Index |
|---|
| 10/27/23 | $10,000 | $10,000 | $10,000 |
| 10/31/23 | $10,047 | $10,052 | $10,036 |
| 11/30/23 | $10,507 | $10,515 | $10,492 |
| 12/31/23 | $10,856 | $10,862 | $10,877 |
| 1/31/24 | $10,867 | $10,876 | $10,881 |
| 2/29/24 | $10,864 | $10,877 | $10,913 |
| 3/31/24 | $10,991 | $11,002 | $11,039 |
| 4/30/24 | $10,883 | $10,897 | $10,933 |
| 5/31/24 | $11,001 | $11,012 | $11,057 |
| 6/30/24 | $11,108 | $11,119 | $11,160 |
| 7/31/24 | $11,287 | $11,302 | $11,383 |
| 8/31/24 | $11,462 | $11,474 | $11,563 |
| Fund/Index | Since Inception 10/27/23 |
|---|
| Xtrackers USD High Yield BB-B ex Financials ETF - NAV | 14.62% |
| Xtrackers USD High Yield BB-B ex Financials ETF - Market | 14.66% |
| ICE BofA BB-B Non-FNCL Non-Distressed US HY Constrained Index | 14.74% |
| Bloomberg U.S. Universal Bond Index | 15.63% |
Average Annual Total Returns
Performance shown is historical. The Fund's past performance is not a good predictor or guarantee of the Fund's future performance. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. The performance graph and returns table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares. Shares are bought and sold at market price (closing price) not net asset value (NAV) and are not individually redeemed from the Fund. Market Price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined) and do not represent the return you would receiveif you traded at other times. To obtain the most recent month-end performance data visit etf.dws.com/en-us/etf-products or call (844) 851-4255.
| Net Assets ($) | 655,081,455 |
| Number of Portfolio Holdings | 1,425 |
| Portfolio Turnover Rate (%) | 32 |
| Total Net Advisory Fees Paid ($) | 927,914 |
| Modified duration to worst | 3.4 years |
Modified duration to worst is the measure of sensitivity of the prices of bonds held by the Fund to a change in interest rates, computed using each bond's nearest call or maturity date.
What did the Fund invest in?
The quality ratings represent the higher 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.
Holding based data is subject to change.
Credit Quality Diversification
| Credit Rating | % of Net Assets |
|---|
| BBB | 5% |
| BB | 69% |
| B | 25% |
| Sector | % of Net Assets |
|---|
| Consumer, Cyclical | 22% |
| Consumer, Non-cyclical | 16% |
| Energy | 15% |
| Communications | 13% |
| Industrial | 12% |
| Basic Materials | 6% |
| Technology | 5% |
| Financial | 5% |
| Utilities | 4% |
| Diversified | 0% |
Geographic Diversification
| Country | % of Net Assets |
|---|
| United States | 83% |
| Canada | 5% |
| United Kingdom | 2% |
| Luxembourg | 2% |
| Other | 6% |
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, and financial statements and other information, please visit dws.com/etfreports. For information about the Fund's proxy voting policies and procedures and how the Fund voted proxies related to its portfolio securities, please visit dws.com/en-us/resources/proxy-voting. This additional information is also available free of charge by contacting us at (844) 851-4255.
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
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. Credit risk refers to the ability of an issuer to make timely payments of principal and interest. This Fund is non-diversified and can take larger positions in fewer issues, increasing its potential risk. An investment in the 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.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's investment objectives, risk factors, and charges and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (844) 851‑4255, or visit dws.com/etfreports to view or download a prospectus. Please read the prospectus carefully before you invest.
ICE Data Indices, LLC, is used with permission. “ICE®” is a trade mark of ICE Data Indices, LLC or its affiliates and BofA® is a registered trademark of Bank of America Corporation licensed by Bank of America Corporation and its affiliates (“BofA”) and may not be used without BofA’s prior written approval. These trademarks have been licensed, along with the ICE BofA BB-B Non-FNCL Non-Distressed US HY Constrained Index (“Index”) for use by DBX Advisors LLC ("Advisor") in connection with Xtrackers USD High Yield BB-B ex Financials ETF (the “Product”). Neither Advisor, DBX ETF Trust (the “Trust”) nor the Product, as applicable, is sponsored, endorsed, sold or promoted by ICE Data Indices, LLC, its affiliates or its Third Party Suppliers (“ICE Data and its Suppliers”). ICE Data and its Suppliers make no representations or warranties regarding the advisability of investing in securities generally, in the Product particularly, the Trust or the ability of the Index to track general market performance. Past performance of an Index is not an indicator of or a guarantee of future results. ICE DATA AND ITS SUPPLIERS DISCLAIM ANY AND ALL WARRANTIES AND REPRESENTATIONS, EXPRESS AND/OR IMPLIED, INCLUDING ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE, INCLUDING THE INDICES, INDEX DATA AND ANY INFORMATION INCLUDED IN, RELATED TO, OR DERIVED THEREFROM (“INDEX DATA”). ICE DATA AND ITS SUPPLIERS SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY WITH RESPECT TO THE ADEQUACY, ACCURACY, TIMELINESS OR COMPLETENESS OF THE INDICES AND THE INDEX DATA, WHICH ARE PROVIDED ON AN “AS IS” BASIS AND YOUR USE IS AT YOUR OWN RISK.
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.
© 2024 DWS Group. All rights reserved. Xtrackers™ is a trademark of DWS Investment GmbH. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
BHYB-TSRA
R-102633-1 (10/24) DBX006192 (10/25)
Xtrackers USD High Yield Corporate Bond ETF
Annual Shareholder Report — August 31, 2024
What were the Fund costs for the last year?
(Based on a hypothetical $10,000 investment)
| Fund | Cost of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|
| HYLB | $7 | 0.07% |
Gross expense ratio as of the latest prospectus: 0.05%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
This annual shareholder report contains important information about the Xtrackers USD High Yield Corporate Bond ETF ("the Fund") for the period September 1, 2023 to August 31, 2024. You can find additional information about the Fund at dws.com/etfreports. You can also request this information by contacting us at (844) 851‐4255.
This report describes changes to the Fund that occurred during the reporting period.
How did the fund perform last year and what affected its performance?
The Fund seeks investment results that correspond generally to the performance, before fees and expenses, of the Fund’s underlying index, the Solactive USD High Yield Corporates Total Market Index. The Underlying Index is designed to track the performance of a basket of U.S. dollar-denominated high yield liquid corporate bonds.
The Fund returned 12.26% for the period ended August 31, 2024. The Fund's underlying index returned 12.25% and the Fund's broad-based index the Bloomberg U.S. Universal Bond Index returned 7.92% during the same period, while the Fund's additional, more narrowly based index, the iBoxx USD Liquid High Yield Index, returned 12.32%.
All sectors contributed positively to performance during the period with the greatest contribution coming from Consumer Cyclical, Consumer Non-Cyclical and Communications.
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.
Bloomberg U.S. Universal Bond Index measures the performance of U.S. dollar-denominated taxable bonds that are rated either investment grade or high yield. The index includes U.S. Treasury bonds, investment-grade and high yield U.S. corporate bonds, mortgage-backed securities, and Eurodollar bonds.
The Bloomberg U.S. Universal Bond Index is a broad-based index that represents the fund’s overall debt market. It replaces the iBoxx USD Liquid High Yield Index as the Fund's broad-based index in compliance with updated regulatory requirements.
The iBoxx USD Liquid High Yield Index consists of liquid USD high yield bonds, selected to provide a balanced representation of the USD high yield corporate bond universe.
The iBoxx USD Liquid High Yield Index is a more narrowly based index that reflects the market sector in which the Fund invests.
Index returns do not reflect any fees or expenses and it is not possible to invest directly into an index.
Cumulative Growth of an Assumed $10,000 Investment
| Xtrackers USD High Yield Corporate Bond ETF - NAV | Solactive USD High Yield Corporates Total Market Index (the Underlying Index) | Bloomberg U.S. Universal Bond Index | iBoxx USD Liquid High Yield Index |
|---|
| 12/7/16 | $10,000 | $10,000 | $10,000 | $10,000 |
| 12/31/16 | $10,121 | $10,132 | $10,005 | $10,086 |
| 1/31/17 | $10,216 | $10,243 | $10,040 | $10,195 |
| 2/28/17 | $10,371 | $10,396 | $10,118 | $10,348 |
| 3/31/17 | $10,347 | $10,374 | $10,103 | $10,320 |
| 4/30/17 | $10,451 | $10,474 | $10,198 | $10,422 |
| 5/31/17 | $10,541 | $10,568 | $10,277 | $10,523 |
| 6/30/17 | $10,550 | $10,578 | $10,281 | $10,534 |
| 7/31/17 | $10,656 | $10,693 | $10,319 | $10,647 |
| 8/31/17 | $10,644 | $10,684 | $10,408 | $10,630 |
| 9/30/17 | $10,726 | $10,762 | $10,371 | $10,713 |
| 10/31/17 | $10,751 | $10,795 | $10,384 | $10,745 |
| 11/30/17 | $10,705 | $10,753 | $10,368 | $10,703 |
| 12/31/17 | $10,725 | $10,771 | $10,414 | $10,723 |
| 1/31/18 | $10,770 | $10,823 | $10,314 | $10,771 |
| 2/28/18 | $10,672 | $10,727 | $10,216 | $10,671 |
| 3/31/18 | $10,608 | $10,663 | $10,268 | $10,612 |
| 4/30/18 | $10,678 | $10,736 | $10,199 | $10,694 |
| 5/31/18 | $10,691 | $10,751 | $10,255 | $10,713 |
| 6/30/18 | $10,736 | $10,792 | $10,240 | $10,759 |
| 7/31/18 | $10,861 | $10,923 | $10,261 | $10,888 |
| 8/31/18 | $10,942 | $10,999 | $10,312 | $10,969 |
| 9/30/18 | $11,000 | $11,059 | $10,268 | $11,028 |
| 10/31/18 | $10,821 | $10,887 | $10,182 | $10,850 |
| 11/30/18 | $10,759 | $10,822 | $10,228 | $10,797 |
| 12/31/18 | $10,520 | $10,584 | $10,388 | $10,564 |
| 1/31/19 | $11,013 | $11,086 | $10,531 | $11,069 |
| 2/28/19 | $11,193 | $11,268 | $10,542 | $11,248 |
| 3/31/19 | $11,301 | $11,377 | $10,733 | $11,356 |
| 4/30/19 | $11,440 | $11,519 | $10,748 | $11,502 |
| 5/31/19 | $11,294 | $11,367 | $10,912 | $11,343 |
| 6/30/19 | $11,583 | $11,658 | $11,067 | $11,631 |
| 7/31/19 | $11,635 | $11,715 | $11,100 | $11,698 |
| 8/31/19 | $11,692 | $11,767 | $11,351 | $11,750 |
| 9/30/19 | $11,710 | $11,791 | $11,302 | $11,785 |
| 10/31/19 | $11,748 | $11,832 | $11,338 | $11,831 |
| 11/30/19 | $11,770 | $11,866 | $11,336 | $11,880 |
| 12/31/19 | $11,999 | $12,101 | $11,353 | $12,112 |
| 1/31/20 | $11,969 | $12,070 | $11,556 | $12,071 |
| 2/29/20 | $11,767 | $11,868 | $11,729 | $11,872 |
| 3/31/20 | $10,616 | $10,656 | $11,500 | $10,659 |
| 4/30/20 | $10,966 | $11,029 | $11,731 | $11,038 |
| 5/31/20 | $11,400 | $11,489 | $11,840 | $11,502 |
| 6/30/20 | $11,407 | $11,511 | $11,939 | $11,485 |
| 7/31/20 | $11,952 | $12,066 | $12,149 | $12,035 |
| 8/31/20 | $12,028 | $12,154 | $12,079 | $12,126 |
| 9/30/20 | $11,891 | $12,019 | $12,057 | $11,974 |
| 10/31/20 | $11,925 | $12,055 | $12,014 | $12,015 |
| 11/30/20 | $12,366 | $12,508 | $12,171 | $12,467 |
| 12/31/20 | $12,584 | $12,726 | $12,213 | $12,677 |
| 1/31/21 | $12,595 | $12,740 | $12,136 | $12,706 |
| 2/28/21 | $12,605 | $12,752 | $11,979 | $12,713 |
| 3/31/21 | $12,645 | $12,802 | $11,840 | $12,763 |
| 4/30/21 | $12,765 | $12,921 | $11,939 | $12,889 |
| 5/31/21 | $12,788 | $12,944 | $11,985 | $12,917 |
| 6/30/21 | $12,932 | $13,096 | $12,072 | $13,062 |
| 7/31/21 | $12,963 | $13,125 | $12,194 | $13,087 |
| 8/31/21 | $13,027 | $13,200 | $12,185 | $13,170 |
| 9/30/21 | $13,018 | $13,190 | $12,081 | $13,148 |
| 10/31/21 | $12,979 | $13,149 | $12,072 | $13,111 |
| 11/30/21 | $12,841 | $13,007 | $12,086 | $12,969 |
| 12/31/21 | $13,102 | $13,274 | $12,078 | $13,244 |
| 1/31/22 | $12,729 | $12,897 | $11,813 | $12,865 |
| 2/28/22 | $12,624 | $12,792 | $11,652 | $12,777 |
| 3/31/22 | $12,525 | $12,696 | $11,340 | $12,664 |
| 4/30/22 | $12,041 | $12,203 | $10,917 | $12,167 |
| 5/31/22 | $12,143 | $12,308 | $10,977 | $12,285 |
| 6/30/22 | $11,286 | $11,437 | $10,757 | $11,412 |
| 7/31/22 | $12,023 | $12,189 | $11,028 | $12,194 |
| 8/31/22 | $11,636 | $11,808 | $10,741 | $11,772 |
| 9/30/22 | $11,184 | $11,340 | $10,278 | $11,333 |
| 10/31/22 | $11,552 | $11,717 | $10,166 | $11,689 |
| 11/30/22 | $11,739 | $11,915 | $10,545 | $11,950 |
| 12/31/22 | $11,649 | $11,814 | $10,509 | $11,824 |
| 1/31/23 | $12,090 | $12,278 | $10,835 | $12,292 |
| 2/28/23 | $11,903 | $12,094 | $10,569 | $12,092 |
| 3/31/23 | $12,071 | $12,266 | $10,816 | $12,253 |
| 4/30/23 | $12,154 | $12,353 | $10,883 | $12,352 |
| 5/31/23 | $12,011 | $12,214 | $10,770 | $12,196 |
| 6/30/23 | $12,223 | $12,428 | $10,753 | $12,403 |
| 7/31/23 | $12,376 | $12,592 | $10,764 | $12,575 |
| 8/31/23 | $12,410 | $12,626 | $10,699 | $12,602 |
| 9/30/23 | $12,261 | $12,474 | $10,444 | $12,450 |
| 10/31/23 | $12,105 | $12,322 | $10,287 | $12,286 |
| 11/30/23 | $12,656 | $12,887 | $10,750 | $12,856 |
| 12/31/23 | $13,132 | $13,366 | $11,157 | $13,350 |
| 1/31/24 | $13,099 | $13,339 | $11,131 | $13,317 |
| 2/29/24 | $13,132 | $13,373 | $10,997 | $13,349 |
| 3/31/24 | $13,282 | $13,521 | $11,105 | $13,503 |
| 4/30/24 | $13,146 | $13,384 | $10,846 | $13,360 |
| 5/31/24 | $13,299 | $13,538 | $11,026 | $13,521 |
| 6/30/24 | $13,428 | $13,665 | $11,126 | $13,654 |
| 7/31/24 | $13,699 | $13,948 | $11,379 | $13,936 |
| 8/31/24 | $13,931 | $14,172 | $11,546 | $14,154 |
Yearly periods ended August 31
| Fund/Index | 1-Year | 5-Year | Since Inception 12/7/16 |
|---|
| Xtrackers USD High Yield Corporate Bond ETF - NAV | 12.26% | 3.57% | 4.38% |
| Xtrackers USD High Yield Corporate Bond ETF - Market | 12.15% | 3.60% | 4.38% |
| Solactive USD High Yield Corporates Total Market Index | 12.25% | 3.79% | 4.61% |
| Bloomberg U.S. Universal Bond Index | 7.92% | 0.34% | 1.88% |
| iBoxx USD Liquid High Yield Index | 12.32% | 3.79% | 4.59% |
Average Annual Total Returns
Performance shown is historical. The Fund's past performance is not a good predictor or guarantee of the Fund's future performance. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. The performance graph and returns table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares. Shares are bought and sold at market price (closing price) not net asset value (NAV) and are not individually redeemed from the Fund. Market Price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined) and do not represent the return you would receiveif you traded at other times. To obtain the most recent month-end performance data visit etf.dws.com/en-us/etf-products or call (844) 851-4255.
| Net Assets ($) | 3,602,976,555 |
| Number of Portfolio Holdings | 1,122 |
| Portfolio Turnover Rate (%) | 31 |
| Total Net Advisory Fees Paid ($) | 2,310,564 |
| Modified duration to worst | 3.3 years |
Modified duration to worst is the measure of sensitivity of the prices of bonds held by the Fund to a change in interest rates, computed using each bond's nearest call or maturity date.
What did the Fund invest in?
The quality ratings represent the higher 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.
Holding based data is subject to change.
Credit Quality Diversification
| Credit Rating | % of Net Assets |
|---|
| BBB | 4% |
| BB | 64% |
| B | 24% |
| CCC | 8% |
| Sector | % of Net Assets |
|---|
| Consumer, Cyclical | 18% |
| Communications | 17% |
| Consumer, Non-cyclical | 17% |
| Energy | 13% |
| Financial | 12% |
| Industrial | 10% |
| Technology | 5% |
| Basic Materials | 5% |
| Utilities | 3% |
| Diversified | 0% |
Geographic Diversification
| Country | % of Net Assets |
|---|
| United States | 83% |
| Canada | 5% |
| Luxembourg | 2% |
| Other | 8% |
This is a summary of certain changes of the Fund since September 1, 2023. For more information, review the Fund's current prospectus at dws.com/etfreports, or by calling (844) 851-4255.
Effective November 17, 2023, the Fund's contractual expense limitation to waive a portion of its unitary fee changed from 0.15% to 0.05%. The cap excludes certain expenses such as interest expense, taxes, brokerage expenses, distribution fees or expenses, litigation expenses and other extraordinary expenses.
Effective August 13, 2024, the Fund’s unitary advisory fee was reduced from 0.20% to 0.05%. At the same time, the Board terminated the contractual expense limitation that capped the Fund’s operating expenses at the same level because of the redundancy.
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, and financial statements and other information, please visit dws.com/etfreports. For information about the Fund's proxy voting policies and procedures and how the Fund voted proxies related to its portfolio securities, please visit dws.com/en-us/resources/proxy-voting. This additional information is also available free of charge by contacting us at (844) 851-4255.
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
Bond investments are subject to interest rate, credit, liquidity and market risks to varying degrees. When interest rates rise, bond prices generally fall. Credit risk refers to the ability of an issuer to make timely payments of principal and interest. 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 (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. Performance of the Fund 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 this 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.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's investment objectives, risk factors, and charges and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (844) 851‑4255, or visit dws.com/etfreports to view or download a prospectus. Please read the prospectus carefully before you invest.
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.
© 2024 DWS Group. All rights reserved. Xtrackers™ is a trademark of DWS Investment GmbH. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
HYLB-TSRA
R-102634-1 (10/24) DBX006193 (10/25)
Xtrackers S&P 500 ESG ETF
Annual Shareholder Report — August 31, 2024
What were the Fund costs for the last year?
(Based on a hypothetical $10,000 investment)
| Fund | Cost of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|
| SNPE | $11 | 0.10% |
Gross expense ratio as of the latest prospectus: 0.10%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
This annual shareholder report contains important information about the Xtrackers S&P 500 ESG ETF ("the Fund") for the period September 1, 2023 to August 31, 2024. You can find additional information about the Fund at dws.com/etfreports. You can also request this information by contacting us at (844) 851‐4255.
This report describes changes to the Fund that occurred during the reporting period.
How did the fund perform last year and what affected its performance?
The Fund seeks investment results that correspond generally to the performance, before fees and expenses, of the Fund’s underlying index, the S&P 500® ESG Index. The Underlying Index is a market capitalization weighted index that is designed to measure the performance of companies meeting environmental, social and governance (ESG) criteria, while maintaining similar overall industry group weights as the S&P 500® Index.
The Fund returned 26.79% for the period ended August 31, 2024. The Fund's underlying index returned 26.97% and the Fund's broad-based index the S&P 500® Index returned 27.14% during the same period.
All sectors contributed positively to performance during the period with the greatest contribution coming from Information Technology, Financials and Health Care.
S&P 500® ESG Index is a market capitalization weighted index that is designed to measure the performance of companies meeting environmental, social and governance (ESG) criteria, while maintaining similar overall industry group weights as the S&P 500® index.
S&P 500® Index is a capitalization weighted index of 500 stocks. The index is designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries.
The S&P 500® Index is a broad-based index that represents the Fund’s overall equity market.
Index returns do not reflect any fees or expenses and it is not possible to invest directly into an index.
Cumulative Growth of an Assumed $10,000 Investment
| Xtrackers S&P 500 ESG ETF - NAV | S&P 500® ESG Index (the Underlying Index) | S&P 500® Index |
|---|
| 6/26/19 | $10,000 | $10,000 | $10,000 |
| 8/31/19 | $10,119 | $10,122 | $10,068 |
| 2/29/20 | $10,401 | $10,409 | $10,262 |
| 8/31/20 | $12,724 | $12,744 | $12,277 |
| 2/28/21 | $13,728 | $13,756 | $13,473 |
| 8/31/21 | $16,560 | $16,601 | $16,103 |
| 2/28/22 | $16,493 | $16,542 | $15,681 |
| 8/31/22 | $14,972 | $15,024 | $14,295 |
| 2/28/23 | $15,163 | $15,223 | $14,475 |
| 8/31/23 | $17,666 | $17,746 | $16,575 |
| 2/29/24 | $19,969 | $20,071 | $18,883 |
| 8/31/24 | $22,398 | $22,532 | $21,072 |
Yearly periods ended August 31
| Fund/Index | 1-Year | 5-Year | Since Inception 6/26/19 |
|---|
| Xtrackers S&P 500 ESG ETF - NAV | 26.79% | 17.22% | 16.83% |
| Xtrackers S&P 500 ESG ETF - Market | 26.76% | 17.22% | 16.81% |
S&P 500® ESG Index | 26.97% | 17.36% | 16.95% |
S&P 500® Index | 27.14% | 0.00% | 15.45% |
Average Annual Total Returns
Performance shown is historical. The Fund's past performance is not a good predictor or guarantee of the Fund's future performance. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. The performance graph and returns table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares. Shares are bought and sold at market price (closing price) not net asset value (NAV) and are not individually redeemed from the Fund. Market Price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined) and do not represent the return you would receiveif you traded at other times. To obtain the most recent month-end performance data visit etf.dws.com/en-us/etf-products or call (844) 851-4255.
| Net Assets ($) | 1,413,116,481 |
| Number of Portfolio Holdings | 321 |
| Portfolio Turnover Rate (%) | 11 |
| Total Net Advisory Fees Paid ($) | 1,055,945 |
What did the Fund invest in?
Holding based data is subject to change.
Ten Largest Equity Holdings
| Holding | 42.7% of Net Assets |
|---|
| Apple, Inc. | 9.6% |
| Microsoft Corp. | 9.1% |
| NVIDIA Corp. | 8.6% |
| Alphabet, Inc. | 5.2% |
| Eli Lilly & Co. | 2.2% |
| JPMorgan Chase & Co. | 1.9% |
| Tesla, Inc. | 1.7% |
| UnitedHealth Group, Inc. | 1.6% |
| Exxon Mobil Corp. | 1.5% |
| Visa, Inc. | 1.3% |
| Sector | % of Net Assets |
|---|
| Information Technology | 34% |
| Financials | 14% |
| Health Care | 13% |
| Industrials | 8% |
| Communication Services | 7% |
| Consumer Staples | 7% |
| Consumer Discretionary | 7% |
| Energy | 4% |
| Real Estate | 3% |
| Materials | 2% |
| Utilities | 1% |
This is a summary of certain changes of the Fund since September 1, 2023. For more information, review the Fund's current prospectus at dws.com/etfreports, or by calling (844) 851-4255.
Effective August 13, 2024, the Fund’s unitary advisory fee was reduced from 0.11% to 0.10%. At the same time, the Board terminated the contractual expense limitation that capped the fund’s operating expenses at the same level because of the redundancy.
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, and financial statements and other information, please visit dws.com/etfreports. For information about the Fund's proxy voting policies and procedures and how the Fund voted proxies related to its portfolio securities, please visit dws.com/en-us/resources/proxy-voting. This additional information is also available free of charge by contacting us at (844) 851-4255.
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
Investing involves risk, including the possible loss of principal. Incorporation of ESG criteria in the fund’s investment strategy does not guarantee a return or protect against a loss, limits the types and number of investment opportunities available to the fund and, as a result, the fund may underperform other funds that do not have an ESG focus. Stocks may decline in value. Stocks of medium-sized companies involve greater risk than securities of larger, more-established companies. Funds investing in a single industry, country or in a limited geographic region generally are more volatile than more diversified funds. Performance of the fund may diverge from that of the Underlying Index due to operating expenses, transaction costs, cash flows, use of sampling strategies or operational inefficiencies. This fund is non-diversified and can take larger positions in fewer issues, increasing its potential risk. An investment in this 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.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's investment objectives, risk factors, and charges and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (844) 851‑4255, or visit dws.com/etfreports to view or download a prospectus. Please read the prospectus carefully before you invest.
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.
© 2024 DWS Group. All rights reserved. Xtrackers™ is a trademark of DWS Investment GmbH. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
SNPE-TSRA
R-102664-1 (10/24) DBX006201 (10/25)
Xtrackers S&P 500 Growth ESG ETF
SNPG : Cboe BZX Exchange, Inc.
Annual Shareholder Report — August 31, 2024
What were the Fund costs for the last year?
(Based on a hypothetical $10,000 investment)
| Fund | Cost of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|
| SNPG | $17 | 0.15% |
Gross expense ratio as of the latest prospectus: 0.15%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
This annual shareholder report contains important information about the Xtrackers S&P 500 Growth ESG ETF ("the Fund") for the period September 1, 2023 to August 31, 2024. You can find additional information about the Fund at dws.com/etfreports. You can also request this information by contacting us at (844) 851‐4255.
How did the fund perform last year and what affected its performance?
The Fund seeks investment results that correspond generally to the performance, before fees and expenses, of the Fund’s underlying index, the S&P 500® Growth ESG Index. The Underlying Index is a market capitalization weighted index that provides exposure to companies with high environmental, social and governance (“ESG”) performance relative to their sector peers, while maintaining similar overall industry group weights as the S&P 500® Growth Index.
The Fund returned 31.22% for the period ended August 31, 2024. The Fund's underlying index returned 31.45% and the Fund's broad-based index the S&P 500® Index returned 27.14% during the same period.
Most sectors contributed positively to performance during the period with the greatest contribution coming from Information Technology, Health Care and Communication Services. The Energy sector was the only negative contributor to performance.
S&P 500® Growth ESG Index is a market capitalization weighted index that provides exposure to companies with high environmental, social and governance (“ESG”) performance relative to their sector peers, while maintaining similar overall industry group weights as the S&P 500® Growth Index.
S&P 500® Index is a capitalization weighted index of 500 stocks. The index is designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries.
The S&P 500® Index is a broad-based index that represents the fund’s overall equity market.
Index returns do not reflect any fees or expenses and it is not possible to invest directly into an index.
Cumulative Growth of an Assumed $10,000 Investment
| Xtrackers S&P 500 Growth ESG ETF - NAV | S&P 500® Growth ESG Index (the Underlying Index) | S&P 500® Index |
|---|
| 11/9/22 | $10,000 | $10,000 | $10,000 |
| 11/30/22 | $10,838 | $10,840 | $10,676 |
| 12/31/22 | $9,962 | $9,963 | $10,061 |
| 1/31/23 | $10,853 | $10,856 | $10,693 |
| 2/28/23 | $10,616 | $10,620 | $10,432 |
| 3/31/23 | $11,477 | $11,486 | $10,815 |
| 4/30/23 | $11,694 | $11,704 | $10,984 |
| 5/31/23 | $12,037 | $12,050 | $11,031 |
| 6/30/23 | $12,766 | $12,782 | $11,760 |
| 7/31/23 | $13,233 | $13,251 | $12,138 |
| 8/31/23 | $13,221 | $13,241 | $11,945 |
| 9/30/23 | $12,635 | $12,655 | $11,375 |
| 10/31/23 | $12,322 | $12,342 | $11,136 |
| 11/30/23 | $13,327 | $13,352 | $12,153 |
| 12/31/23 | $13,787 | $13,815 | $12,705 |
| 1/31/24 | $14,182 | $14,213 | $12,919 |
| 2/29/24 | $15,206 | $15,241 | $13,609 |
| 3/31/24 | $15,595 | $15,635 | $14,047 |
| 4/30/24 | $15,144 | $15,184 | $13,473 |
| 5/31/24 | $16,096 | $16,141 | $14,141 |
| 6/30/24 | $17,044 | $17,094 | $14,648 |
| 7/31/24 | $16,848 | $16,901 | $14,827 |
| 8/31/24 | $17,349 | $17,406 | $15,186 |
| Fund/Index | 1-Year | Since Inception 11/9/22 |
|---|
| Xtrackers S&P 500 Growth ESG ETF - NAV | 31.22% | 35.56% |
| Xtrackers S&P 500 Growth ESG ETF - Market | 31.16% | 35.47% |
S&P 500® Growth ESG Index | 31.45% | 35.74% |
S&P 500® Index | 27.14% | 25.91% |
Average Annual Total Returns
Performance shown is historical. The Fund's past performance is not a good predictor or guarantee of the Fund's future performance. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. The performance graph and returns table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares. Shares are bought and sold at market price (closing price) not net asset value (NAV) and are not individually redeemed from the Fund. Market Price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined) and do not represent the return you would receiveif you traded at other times. To obtain the most recent month-end performance data visit etf.dws.com/en-us/etf-products or call (844) 851-4255.
| Net Assets ($) | 12,817,192 |
| Number of Portfolio Holdings | 136 |
| Portfolio Turnover Rate (%) | 54 |
| Total Net Advisory Fees Paid ($) | 12,616 |
What did the Fund invest in?
Holding based data is subject to change.
Ten Largest Equity Holdings
| Holding | 58.1% of Net Assets |
|---|
| Apple, Inc. | 9.2% |
| NVIDIA Corp. | 8.7% |
| Microsoft Corp. | 8.4% |
| Meta Platforms, Inc. | 8.3% |
| Alphabet, Inc. | 8.1% |
| Eli Lilly & Co. | 5.0% |
| Tesla, Inc. | 4.3% |
| Visa, Inc. | 2.1% |
| Mastercard, Inc. | 2.1% |
| Adobe, Inc. | 1.9% |
| Sector | % of Net Assets |
|---|
| Information Technology | 35% |
| Communication Services | 17% |
| Health Care | 11% |
| Consumer Discretionary | 11% |
| Industrials | 9% |
| Financials | 7% |
| Consumer Staples | 5% |
| Energy | 2% |
| Materials | 2% |
| Real Estate | 1% |
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, and financial statements and other information, please visit dws.com/etfreports. For information about the Fund's proxy voting policies and procedures and how the Fund voted proxies related to its portfolio securities, please visit dws.com/en-us/resources/proxy-voting. This additional information is also available free of charge by contacting us at (844) 851-4255.
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
Investing involves risk, including the possible loss of principal. Incorporation of ESG criteria in the Fund’s investment strategy does not guarantee a return or protect against a loss, limits the types and number of investment opportunities available to the Fund and, as a result, the Fund may under perform other funds that do not have an ESG focus. Stocks may decline in value. This Fund is non-diversified and can take larger positions in fewer issues, increasing its potential risk. An investment in this 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.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's investment objectives, risk factors, and charges and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (844) 851‑4255, or visit dws.com/etfreports to view or download a prospectus. Please read the prospectus carefully before you invest.
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.
© 2024 DWS Group. All rights reserved. Xtrackers™ is a trademark of DWS Investment GmbH. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
SNPG-TSRA
R-102665-1 (10/24) DBX006202 (10/25)
Xtrackers S&P 500 Value ESG ETF
SNPV : Cboe BZX Exchange, Inc.
Annual Shareholder Report — August 31, 2024
What were the Fund costs for the last year?
(Based on a hypothetical $10,000 investment)
| Fund | Cost of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|
| SNPV | $17 | 0.15% |
Gross expense ratio as of the latest prospectus: 0.15%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
This annual shareholder report contains important information about the Xtrackers S&P 500 Value ESG ETF ("the Fund") for the period September 1, 2023 to August 31, 2024. You can find additional information about the Fund at dws.com/etfreports. You can also request this information by contacting us at (844) 851‐4255.
How did the fund perform last year and what affected its performance?
The Fund seeks investment results that correspond generally to the performance, before fees and expenses, of the Fund’s underlying index, the S&P 500® Value ESG Index. The Underlying Index is a market capitalization weighted index that provides exposure to companies with high environmental, social and governance (“ESG”) performance relative to their sector peers, while maintaining similar overall industry group weights as the S&P 500® Value Index.
The Fund returned 22.45% for the period ended August 31, 2024. The Fund's underlying index returned 22.69% and the Fund's broad-based index the S&P 500® Index returned 27.14% during the same period.
Most sectors contributed positively to performance during the period with the greatest contribution coming from Financials, Health Care and Industrials. The Energy sector was the only negative contributor to performance.
S&P 500® Value ESG Index is a market capitalization weighted index that provides exposure to companies with high environmental, social and governance (“ESG”) performance relative to their sector peers, while maintaining similar overall industry group weights as the S&P 500® value index.
S&P 500® Index is a capitalization weighted index of 500 stocks. The index is designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries.
The S&P 500® Index is a broad-based index that represents the Fund’s overall equity market.
Index returns do not reflect any fees or expenses and it is not possible to invest directly into an index.
Cumulative Growth of an Assumed $10,000 Investment
| Xtrackers S&P 500 Value ESG ETF - NAV | S&P 500® Value ESG Index (the Underlying Index) | S&P 500® Index |
|---|
| 11/9/22 | $10,000 | $10,000 | $10,000 |
| 11/30/22 | $10,521 | $10,523 | $10,676 |
| 12/31/22 | $10,105 | $10,108 | $10,061 |
| 1/31/23 | $10,642 | $10,646 | $10,693 |
| 2/28/23 | $10,288 | $10,294 | $10,432 |
| 3/31/23 | $10,231 | $10,238 | $10,815 |
| 4/30/23 | $10,302 | $10,309 | $10,984 |
| 5/31/23 | $10,068 | $10,076 | $11,031 |
| 6/30/23 | $10,746 | $10,758 | $11,760 |
| 7/31/23 | $11,106 | $11,120 | $12,138 |
| 8/31/23 | $10,790 | $10,805 | $11,945 |
| 9/30/23 | $10,261 | $10,275 | $11,375 |
| 10/31/23 | $10,119 | $10,135 | $11,136 |
| 11/30/23 | $11,114 | $11,134 | $12,153 |
| 12/31/23 | $11,720 | $11,743 | $12,705 |
| 1/31/24 | $11,716 | $11,740 | $12,919 |
| 2/29/24 | $12,096 | $12,123 | $13,609 |
| 3/31/24 | $12,699 | $12,730 | $14,047 |
| 4/30/24 | $12,081 | $12,113 | $13,473 |
| 5/31/24 | $12,406 | $12,442 | $14,141 |
| 6/30/24 | $12,321 | $12,358 | $14,648 |
| 7/31/24 | $12,893 | $12,933 | $14,827 |
| 8/31/24 | $13,212 | $13,257 | $15,186 |
| Fund/Index | 1-Year | Since Inception 11/9/22 |
|---|
| Xtrackers S&P 500 Value ESG ETF - NAV | 22.45% | 16.63% |
| Xtrackers S&P 500 Value ESG ETF - Market | 22.41% | 16.58% |
S&P 500® Value ESG Index | 22.69% | 16.82% |
S&P 500® Index | 27.14% | 25.91% |
Average Annual Total Returns
Performance shown is historical. The Fund's past performance is not a good predictor or guarantee of the Fund's future performance. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. The performance graph and returns table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares. Shares are bought and sold at market price (closing price) not net asset value (NAV) and are not individually redeemed from the Fund. Market Price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined) and do not represent the return you would receiveif you traded at other times. To obtain the most recent month-end performance data visit etf.dws.com/en-us/etf-products or call (844) 851-4255.
| Net Assets ($) | 6,391,660 |
| Number of Portfolio Holdings | 279 |
| Portfolio Turnover Rate (%) | 42 |
| Total Net Advisory Fees Paid ($) | 8,631 |
What did the Fund invest in?
Holding based data is subject to change.
Ten Largest Equity Holdings
| Holding | 20.8% of Net Assets |
|---|
| JPMorgan Chase & Co. | 4.6% |
| UnitedHealth Group, Inc. | 2.4% |
| Walmart, Inc. | 2.3% |
| Bank of America Corp. | 2.0% |
| Chevron Corp. | 1.8% |
| Procter & Gamble Co. | 1.7% |
| Home Depot, Inc. | 1.6% |
| AbbVie, Inc. | 1.5% |
| Cisco Systems, Inc. | 1.5% |
| Abbott Laboratories | 1.4% |
| Sector | % of Net Assets |
|---|
| Financials | 26% |
| Health Care | 20% |
| Consumer Staples | 10% |
| Industrials | 9% |
| Information Technology | 7% |
| Consumer Discretionary | 6% |
| Real Estate | 5% |
| Energy | 5% |
| Communication Services | 4% |
| Materials | 4% |
| Utilities | 3% |
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, and financial statements and other information, please visit dws.com/etfreports. For information about the Fund's proxy voting policies and procedures and how the Fund voted proxies related to its portfolio securities, please visit dws.com/en-us/resources/proxy-voting. This additional information is also available free of charge by contacting us at (844) 851-4255.
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
Investing involves risk, including the possible loss of principal. Incorporation of ESG criteria in the Fund’s investment strategy does not guarantee a return or protect against a loss, limits the types and number of investment opportunities available to the Fund and, as a result, the Fund may under perform other funds that do not have an ESG focus. Stocks may decline in value. This Fund is non-diversified and can take larger positions in fewer issues, increasing its potential risk. An investment in this 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.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's investment objectives, risk factors, and charges and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (844) 851‑4255, or visit dws.com/etfreports to view or download a prospectus. Please read the prospectus carefully before you invest.
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.
© 2024 DWS Group. All rights reserved. Xtrackers™ is a trademark of DWS Investment GmbH. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
SNPV-TSRA
R-102666-1 (10/24) DBX006203 (10/25)
Xtrackers S&P ESG Dividend Aristocrats ETF
SNPD : Cboe BZX Exchange, Inc.
Annual Shareholder Report — August 31, 2024
What were the Fund costs for the last year?
(Based on a hypothetical $10,000 investment)
| Fund | Cost of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|
| SNPD | $16 | 0.15% |
Gross expense ratio as of the latest prospectus: 0.15%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
This annual shareholder report contains important information about the Xtrackers S&P ESG Dividend Aristocrats ETF ("the Fund") for the period September 1, 2023 to August 31, 2024. You can find additional information about the Fund at dws.com/etfreports. You can also request this information by contacting us at (844) 851‐4255.
How did the fund perform last year and what affected its performance?
The Fund seeks investment results that correspond generally to the performance, before fees and expenses, of the Fund’s underlying index, the S&P ESG High Yield Dividend Aristocrats® Index. The Underlying Index is designed to measure the performance of constituents from the S&P High Yield Dividend Aristocrats® Index that meet certain environmental, social and governance (“ESG”) criteria. The S&P High Yield Dividend Aristocrats® Index measures the performance of companies within the S&P Composite 1500® Index that have followed a policy of consistently increasing dividends every year for at least 20 years.
The Fund returned 14.15% for the period ended August 31, 2024. The Fund's underlying index returned 14.37% and the Fund's broad-based index the S&P Composite 1500® Index returned 26.42% during the same period.
Most sectors contributed positively to performance during the period with the greatest contribution coming from Industrials, Utilities and Information Technology. The Consumer Discretionary sector was the only negative contributor to performance.
S&P ESG High Yield Dividend Aristocrats® Index is designed to measure the performance of constituents from the S&P High Yield Dividend Aristocrats® Index that meet certain environmental, social and governance (“ESG”) criteria. The S&P High Yield Dividend Aristocrats® Index measures the performance of companies within the S&P Composite 1500® Index that have followed a policy of consistently increasing dividends every year for at least 20 years.
S&P Composite 1500® Index is a broad measure of the U.S. equity market which covers approximately 90% of the market capitalization of US stocks and includes all stocks in the S&P 500®, S&P 400® and S&P 600® Indices.
The S&P Composite 1500® Index is a broad-based index that represents the Fund’s overall equity market.
Index returns do not reflect any fees or expenses and it is not possible to invest directly into an index.
Cumulative Growth of an Assumed $10,000 Investment
| Xtrackers S&P ESG Dividend Aristocrats ETF - NAV | S&P ESG High Yield Dividend Aristocrats® Index (the Underlying Index) | S&P Composite 1500® Index |
|---|
| 11/9/22 | $10,000 | $10,000 | $10,000 |
| 11/30/22 | $10,554 | $10,556 | $10,668 |
| 12/31/22 | $10,204 | $10,206 | $10,052 |
| 1/31/23 | $10,428 | $10,432 | $10,709 |
| 2/28/23 | $10,093 | $10,098 | $10,456 |
| 3/31/23 | $10,060 | $10,063 | $10,772 |
| 4/30/23 | $10,192 | $10,196 | $10,914 |
| 5/31/23 | $9,556 | $9,560 | $10,934 |
| 6/30/23 | $10,219 | $10,225 | $11,676 |
| 7/31/23 | $10,582 | $10,591 | $12,064 |
| 8/31/23 | $10,201 | $10,210 | $11,855 |
| 9/30/23 | $9,650 | $9,659 | $11,283 |
| 10/31/23 | $9,300 | $9,309 | $11,015 |
| 11/30/23 | $9,857 | $9,869 | $12,014 |
| 12/31/23 | $10,457 | $10,473 | $12,612 |
| 1/31/24 | $10,414 | $10,430 | $12,781 |
| 2/29/24 | $10,640 | $10,659 | $13,461 |
| 3/31/24 | $11,154 | $11,176 | $13,912 |
| 4/30/24 | $10,745 | $10,769 | $13,324 |
| 5/31/24 | $10,908 | $10,934 | $13,980 |
| 6/30/24 | $10,718 | $10,744 | $14,422 |
| 7/31/24 | $11,295 | $11,325 | $14,666 |
| 8/31/24 | $11,644 | $11,677 | $14,987 |
| Fund/Index | 1-Year | Since Inception 11/9/22 |
|---|
| Xtrackers S&P ESG Dividend Aristocrats ETF - NAV | 14.15% | 8.77% |
| Xtrackers S&P ESG Dividend Aristocrats ETF - Market | 14.13% | 8.76% |
S&P ESG High Yield Dividend Aristocrats® Index | 14.37% | 8.92% |
S&P Composite 1500® Index | 26.42% | 24.99% |
Average Annual Total Returns
Performance shown is historical. The Fund's past performance is not a good predictor or guarantee of the Fund's future performance. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. The performance graph and returns table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares. Shares are bought and sold at market price (closing price) not net asset value (NAV) and are not individually redeemed from the Fund. Market Price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined) and do not represent the return you would receiveif you traded at other times. To obtain the most recent month-end performance data visit etf.dws.com/en-us/etf-products or call (844) 851-4255.
| Net Assets ($) | 5,569,686 |
| Number of Portfolio Holdings | 88 |
| Portfolio Turnover Rate (%) | 36 |
| Total Net Advisory Fees Paid ($) | 7,599 |
What did the Fund invest in?
Holding based data is subject to change.
Ten Largest Equity Holdings
| Holding | 23.5% of Net Assets |
|---|
| Best Buy Co., Inc. | 3.1% |
| Realty Income Corp. | 2.5% |
| AbbVie, Inc. | 2.5% |
| Edison International | 2.4% |
| T. Rowe Price Group, Inc. | 2.4% |
| Eversource Energy | 2.3% |
| International Business Machines Corp. | 2.2% |
| Essex Property Trust, Inc. | 2.1% |
| Federal Realty Investment Trust | 2.0% |
| Kimberly-Clark Corp. | 2.0% |
| Sector | % of Net Assets |
|---|
| Consumer Staples | 19% |
| Industrials | 17% |
| Utilities | 11% |
| Financials | 9% |
| Health Care | 8% |
| Materials | 8% |
| Information Technology | 8% |
| Consumer Discretionary | 8% |
| Real Estate | 7% |
| Energy | 4% |
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, and financial statements and other information, please visit dws.com/etfreports. For information about the Fund's proxy voting policies and procedures and how the Fund voted proxies related to its portfolio securities, please visit dws.com/en-us/resources/proxy-voting. This additional information is also available free of charge by contacting us at (844) 851-4255.
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
Investing involves risk, including the possible loss of principal. Incorporation of ESG criteria in the Fund’s investment strategy does not guarantee a return or protect against a 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. This Fund is non-diversified and can take larger positions in fewer issues, increasing its potential risk. An investment in this 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.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's investment objectives, risk factors, and charges and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (844) 851‑4255, or visit dws.com/etfreports to view or download a prospectus. Please read the prospectus carefully before you invest.
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.
© 2024 DWS Group. All rights reserved. Xtrackers™ is a trademark of DWS Investment GmbH. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
SNPD-TSRA
R-102667-1 (10/24) DBX006204 (10/25)
Xtrackers S&P MidCap 400 ESG ETF
Annual Shareholder Report — August 31, 2024
What were the Fund costs for the last year?
(Based on a hypothetical $10,000 investment)
| Fund | Cost of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|
| MIDE | $16 | 0.15% |
Gross expense ratio as of the latest prospectus: 0.15%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
This annual shareholder report contains important information about the Xtrackers S&P MidCap 400 ESG ETF ("the Fund") for the period September 1, 2023 to August 31, 2024. You can find additional information about the Fund at dws.com/etfreports. You can also request this information by contacting us at (844) 851‐4255.
How did the fund perform last year and what affected its performance?
The Fund seeks investment results that correspond generally to the performance, before fees and expenses, of the Fund’s underlying index, the S&P MidCap 400® ESG Index. The Underlying Index is a market capitalization weighted index that is designed to measure the performance of companies meeting environmental, social and governance (ESG) criteria, while maintaining similar overall industry group weights as the S&P MidCap 400® Index.
The Fund returned 16.70% for the period ended August 31, 2024. The Fund's underlying index returned 16.92% and the Fund's broad-based index the S&P Composite 1500® Index returned 26.42% during the same period, while the Fund's additional, more narrowly based index, the S&P MidCap 400® Index, returned 18.75%.
Most sectors contributed positively to performance during the period with the greatest contribution coming from Financials, Consumer Discretionary and Industrials. The Communication Services and Energy were negative contributors to performance.
S&P MidCap 400® ESG Index is a market capitalization weighted index that is designed to measure the performance of companies meeting environmental, social and governance (ESG) criteria, while maintaining similar overall industry group weights as the S&P MidCap 400® Index.
S&P Composite 1500® Index is a broad measure of the U.S. equity market which covers approximately 90% of the market capitalization of U.S. stocks and includes all stocks in the S&P 500®, S&P 400® and S&P 600® Indices.
The S&P Composite 1500® Index is a broad-based index that represents the Fund’s overall equity market. It replaces the S&P MidCap 400® Index as the Fund's broad-based index in compliance with updated regulatory requirements.
S&P MidCap 400® Index seeks to measure the mid-cap segment of the U.S. equity market. The index is designed to measure the performance of 400 mid-sized companies, reflecting the distinctive risk and return characteristics of this market segment.
The S&P MidCap 400® Index is a more narrowly based index that reflects the market sector in which the Fund invests.
Index returns do not reflect any fees or expenses and it is not possible to invest directly into an index.
Cumulative Growth of an Assumed $10,000 Investment
| Xtrackers S&P MidCap 400 ESG ETF - NAV | S&P MidCap 400® ESG Index (the Underlying Index) | S&P Composite 1500® Index | S&P MidCap 400® Index |
|---|
| 2/24/21 | $10,000 | $10,000 | $10,000 | $10,000 |
| 2/21 | $9,864 | $9,864 | $9,708 | $9,867 |
| 8/21 | $10,992 | $11,001 | $11,521 | $10,949 |
| 2/22 | $10,754 | $10,769 | $11,217 | $10,654 |
| 8/22 | $9,932 | $9,954 | $10,230 | $9,813 |
| 2/23 | $10,852 | $10,889 | $10,410 | $10,587 |
| 8/23 | $10,944 | $10,988 | $11,804 | $10,864 |
| 2/24 | $11,839 | $11,897 | $13,403 | $11,969 |
| 8/24 | $12,771 | $12,846 | $14,922 | $12,901 |
| Fund/Index | 1-Year | Since Inception 2/24/21 |
|---|
| Xtrackers S&P MidCap 400 ESG ETF - NAV | 16.70% | 7.20% |
| Xtrackers S&P MidCap 400 ESG ETF - Market | 16.73% | 7.20% |
S&P MidCap 400® ESG Index | 16.92% | 7.37% |
S&P Composite 1500® Index | 26.42% | 12.06% |
S&P MidCap 400® Index | 18.75% | 7.50% |
Average Annual Total Returns
Performance shown is historical. The Fund's past performance is not a good predictor or guarantee of the Fund's future performance. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. The performance graph and returns table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares. Shares are bought and sold at market price (closing price) not net asset value (NAV) and are not individually redeemed from the Fund. Market Price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined) and do not represent the return you would receiveif you traded at other times. To obtain the most recent month-end performance data visit etf.dws.com/en-us/etf-products or call (844) 851-4255.
| Net Assets ($) | 6,113,066 |
| Number of Portfolio Holdings | 283 |
| Portfolio Turnover Rate (%) | 35 |
| Total Net Advisory Fees Paid ($) | 13,578 |
What did the Fund invest in?
Holding based data is subject to change.
Ten Largest Equity Holdings
| Holding | 8.6% of Net Assets |
|---|
| Carlisle Cos., Inc. | 1.0% |
| Lennox International, Inc. | 1.0% |
| EMCOR Group, Inc. | 0.9% |
| Williams-Sonoma, Inc. | 0.9% |
| Burlington Stores, Inc. | 0.8% |
| United Therapeutics Corp. | 0.8% |
| Tenet Healthcare Corp. | 0.8% |
| Manhattan Associates, Inc. | 0.8% |
| Pure Storage, Inc. | 0.8% |
| Watsco, Inc. | 0.8% |
| Sector | % of Net Assets |
|---|
| Industrials | 21% |
| Financials | 18% |
| Consumer Discretionary | 15% |
| Information Technology | 10% |
| Health Care | 8% |
| Real Estate | 8% |
| Materials | 7% |
| Energy | 5% |
| Consumer Staples | 3% |
| Utilities | 2% |
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, and financial statements and other information, please visit dws.com/etfreports. For information about the Fund's proxy voting policies and procedures and how the Fund voted proxies related to its portfolio securities, please visit dws.com/en-us/resources/proxy-voting. This additional information is also available free of charge by contacting us at (844) 851-4255.
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
Incorporation of ESG criteria in the Fund’s investment strategy does not guarantee a return or protect against a 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. Investing involves risk, including the possible loss of principal. Stocks may decline in value. Stocks of medium-sized companies involve greater risk than securities of larger, more-established companies. Performance of the Fund 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 this 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.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's investment objectives, risk factors, and charges and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (844) 851‑4255, or visit dws.com/etfreports to view or download a prospectus. Please read the prospectus carefully before you invest.
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.
© 2024 DWS Group. All rights reserved. Xtrackers™ is a trademark of DWS Investment GmbH. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
MIDE-TSRA
R-102669-1 (10/24) DBX006205 (10/25)
Xtrackers FTSE Developed ex US Multifactor ETF
Annual Shareholder Report — August 31, 2024
What were the Fund costs for the last year?
(Based on a hypothetical $10,000 investment)
| Fund | Cost of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|
| DEEF | $26 | 0.24% |
Gross expense ratio as of the latest prospectus: 0.24%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
This annual shareholder report contains important information about the Xtrackers FTSE Developed ex US Multifactor ETF ("the Fund") for the period September 1, 2023 to August 31, 2024. You can find additional information about the Fund at dws.com/etfreports. You can also request this information by contacting us at (844) 851‐4255.
This report describes changes to the Fund that occurred during the reporting period.
How did the fund perform last year and what affected its performance?
The Fund seeks investment results that correspond generally to the performance, before fees and expenses, of the Fund's underlying index, the FTSE Developed ex US Comprehensive Factor Index. The Underlying Index is designed to track the equity market performance of companies in developed countries (except the United States) selected on the investment style criteria (“factors”) of value, momentum, quality, low volatility and size. The companies eligible for the Underlying Index are derived from its starting universe, the FTSE Developed ex US Index, which is comprised of large- and mid-capitalization equity securities from developed markets (except the United States).
The Fund returned 17.65% for the period ended August 31, 2024. The Fund's underlying index returned 18.11% and the Fund's broad-based index the FTSE Developed ex US Net Tax (US RIC) Index returned 18.97% during the same period.
All sectors contributed positively to performance during the period with the greatest contribution coming from Industrials, Financials and Consumer Discretionary. From a geographical perspective, all countries contributed positively to performance during the period with the greatest contribution coming from Japan, United Kingdom and Australia.
FTSE Developed ex US Comprehensive Factor Index is designed to track the equity market performance of companies in developed countries (except the United States) selected on the investment style criteria (“factors”) of value, momentum, quality, low volatility and size. The companies eligible for the Underlying Index are derived from its starting universe, the FTSE Developed ex US New Tax (US RIC) Index.
The FTSE Developed ex US Net Tax (US RIC) Index is comprised of large- and mid-capitalization equity securities from developed markets (except the United States).
The FTSE Developed ex US Net Tax (US RIC) Index is a broad-based index that represents the Fund’s overall equity market.
Index returns do not reflect any fees or expenses and it is not possible to invest directly into an index.
Cumulative Growth of an Assumed $10,000 Investment
| Xtrackers FTSE Developed ex US Multifactor ETF - NAV | FTSE Developed ex US Comprehensive Factor Index (the Underlying Index) | FTSE Developed ex US Net Tax (US RIC) Index |
|---|
| 11/24/15 | $10,000 | $10,000 | $10,000 |
| 11/30/15 | $9,992 | $9,987 | $9,987 |
| 12/31/15 | $9,912 | $9,940 | $9,823 |
| 1/31/16 | $9,360 | $9,403 | $9,144 |
| 2/29/16 | $9,340 | $9,370 | $9,003 |
| 3/31/16 | $10,017 | $10,075 | $9,651 |
| 4/30/16 | $10,214 | $10,270 | $9,943 |
| 5/31/16 | $10,150 | $10,232 | $9,831 |
| 6/30/16 | $9,882 | $9,979 | $9,554 |
| 7/31/16 | $10,390 | $10,488 | $10,033 |
| 8/31/16 | $10,321 | $10,398 | $10,059 |
| 9/30/16 | $10,480 | $10,594 | $10,186 |
| 10/31/16 | $10,099 | $10,218 | $9,983 |
| 11/30/16 | $9,814 | $9,934 | $9,812 |
| 12/31/16 | $10,042 | $10,165 | $10,126 |
| 1/31/17 | $10,342 | $10,471 | $10,443 |
| 2/28/17 | $10,525 | $10,669 | $10,586 |
| 3/31/17 | $10,725 | $10,876 | $10,866 |
| 4/30/17 | $11,047 | $11,204 | $11,108 |
| 5/31/17 | $11,429 | $11,595 | $11,507 |
| 6/30/17 | $11,471 | $11,636 | $11,523 |
| 7/31/17 | $11,792 | $11,964 | $11,866 |
| 8/31/17 | $11,887 | $12,061 | $11,854 |
| 9/30/17 | $12,136 | $12,309 | $12,161 |
| 10/31/17 | $12,413 | $12,603 | $12,379 |
| 11/30/17 | $12,560 | $12,762 | $12,515 |
| 12/31/17 | $12,811 | $13,010 | $12,752 |
| 1/31/18 | $13,318 | $13,546 | $13,337 |
| 2/28/18 | $12,797 | $13,026 | $12,701 |
| 3/31/18 | $12,616 | $12,855 | $12,494 |
| 4/30/18 | $12,842 | $13,094 | $12,806 |
| 5/31/18 | $12,746 | $13,003 | $12,550 |
| 6/30/18 | $12,488 | $12,742 | $12,374 |
| 7/31/18 | $12,652 | $12,913 | $12,651 |
| 8/31/18 | $12,519 | $12,780 | $12,437 |
| 9/30/18 | $12,561 | $12,828 | $12,535 |
| 10/31/18 | $11,530 | $11,777 | $11,491 |
| 11/30/18 | $11,530 | $11,781 | $11,502 |
| 12/31/18 | $11,068 | $11,307 | $10,924 |
| 1/31/19 | $11,891 | $12,152 | $11,713 |
| 2/28/19 | $12,061 | $12,328 | $11,983 |
| 3/31/19 | $12,138 | $12,414 | $12,030 |
| 4/30/19 | $12,230 | $12,508 | $12,357 |
| 5/31/19 | $11,787 | $12,057 | $11,749 |
| 6/30/19 | $12,323 | $12,605 | $12,453 |
| 7/31/19 | $12,192 | $12,479 | $12,285 |
| 8/31/19 | $11,953 | $12,239 | $11,972 |
| 9/30/19 | $12,242 | $12,540 | $12,338 |
| 10/31/19 | $12,647 | $12,957 | $12,757 |
| 11/30/19 | $12,760 | $13,077 | $12,899 |
| 12/31/19 | $13,128 | $13,457 | $13,357 |
| 1/31/20 | $12,945 | $13,274 | $13,068 |
| 2/29/20 | $11,769 | $12,066 | $11,916 |
| 3/31/20 | $10,032 | $10,287 | $10,268 |
| 4/30/20 | $10,836 | $11,116 | $11,000 |
| 5/31/20 | $11,409 | $11,709 | $11,488 |
| 6/30/20 | $11,648 | $11,950 | $11,896 |
| 7/31/20 | $12,089 | $12,404 | $12,228 |
| 8/31/20 | $12,847 | $13,185 | $12,864 |
| 9/30/20 | $12,648 | $12,989 | $12,553 |
| 10/31/20 | $12,221 | $12,551 | $12,083 |
| 11/30/20 | $13,595 | $13,964 | $13,953 |
| 12/31/20 | $14,228 | $14,616 | $14,685 |
| 1/31/21 | $14,131 | $14,521 | $14,557 |
| 2/28/21 | $14,142 | $14,533 | $14,901 |
| 3/31/21 | $14,686 | $15,105 | $15,277 |
| 4/30/21 | $15,095 | $15,531 | $15,755 |
| 5/31/21 | $15,543 | $15,999 | $16,329 |
| 6/30/21 | $15,419 | $15,873 | $16,138 |
| 7/31/21 | $15,582 | $16,056 | $16,186 |
| 8/31/21 | $15,762 | $16,243 | $16,431 |
| 9/30/21 | $15,264 | $15,742 | $15,939 |
| 10/31/21 | $15,462 | $15,947 | $16,341 |
| 11/30/21 | $14,767 | $15,231 | $15,571 |
| 12/31/21 | $15,549 | $16,048 | $16,373 |
| 1/31/22 | $14,729 | $15,203 | $15,602 |
| 2/28/22 | $14,629 | $15,109 | $15,379 |
| 3/31/22 | $14,718 | $15,210 | $15,538 |
| 4/30/22 | $13,930 | $14,405 | $14,536 |
| 5/31/22 | $13,860 | $14,330 | $14,654 |
| 6/30/22 | $12,631 | $13,062 | $13,235 |
| 7/31/22 | $13,191 | $13,644 | $13,891 |
| 8/31/22 | $12,649 | $13,089 | $13,270 |
| 9/30/22 | $11,280 | $11,677 | $11,975 |
| 10/31/22 | $11,639 | $12,050 | $12,629 |
| 11/30/22 | $12,795 | $13,245 | $14,005 |
| 12/31/22 | $12,889 | $13,349 | $13,941 |
| 1/31/23 | $13,714 | $14,203 | $15,083 |
| 2/28/23 | $13,385 | $13,869 | $14,690 |
| 3/31/23 | $13,692 | $14,198 | $15,018 |
| 4/30/23 | $13,994 | $14,509 | $15,423 |
| 5/31/23 | $13,434 | $13,934 | $14,841 |
| 6/30/23 | $13,994 | $14,514 | $15,505 |
| 7/31/23 | $14,527 | $15,069 | $16,039 |
| 8/31/23 | $14,114 | $14,649 | $15,411 |
| 9/30/23 | $13,703 | $14,236 | $14,888 |
| 10/31/23 | $13,103 | $13,614 | $14,247 |
| 11/30/23 | $14,297 | $14,857 | $15,627 |
| 12/31/23 | $15,093 | $15,688 | $16,496 |
| 1/31/24 | $15,041 | $15,636 | $16,471 |
| 2/29/24 | $15,173 | $15,775 | $16,792 |
| 3/31/24 | $15,626 | $16,256 | $17,364 |
| 4/30/24 | $15,268 | $15,892 | $16,902 |
| 5/31/24 | $15,689 | $16,332 | $17,485 |
| 6/30/24 | $15,363 | $15,998 | $17,250 |
| 7/31/24 | $16,119 | $16,794 | $17,808 |
| 8/31/24 | $16,606 | $17,302 | $18,335 |
Yearly periods ended August 31
| Fund/Index | 1-Year | 5-Year | Since Inception 11/24/15 |
|---|
| Xtrackers FTSE Developed ex US Multifactor ETF - NAV | 17.65% | 6.80% | 5.95% |
| Xtrackers FTSE Developed ex US Multifactor ETF - Market | 17.70% | 6.81% | 5.93% |
| FTSE Developed ex US Comprehensive Factor Index | 18.11% | 7.17% | 6.44% |
| FTSE Developed ex US Net Tax (US RIC) Index | 18.97% | 8.90% | 7.15% |
Average Annual Total Returns
Performance shown is historical. The Fund's past performance is not a good predictor or guarantee of the Fund's future performance. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. The performance graph and returns table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares. Shares are bought and sold at market price (closing price) not net asset value (NAV) and are not individually redeemed from the Fund. Market Price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined) and do not represent the return you would receiveif you traded at other times. To obtain the most recent month-end performance data visit etf.dws.com/en-us/etf-products or call (844) 851-4255.
| Net Assets ($) | 55,810,640 |
| Number of Portfolio Holdings | 1,198 |
| Portfolio Turnover Rate (%) | 51 |
| Total Net Advisory Fees Paid ($) | 135,177 |
What did the Fund invest in?
Holding based data is subject to change.
Ten Largest Equity Holdings
| Holding | 7.5% of Net Assets |
|---|
| Tesco PLC (United Kingdom) | 1.0% |
| 3i Group PLC (United Kingdom) | 1.0% |
| ENEOS Holdings, Inc. (Japan) | 0.8% |
| Tokyo Gas Co. Ltd. (Japan) | 0.7% |
| Trelleborg AB (Sweden) | 0.7% |
| Industrivarden AB (Sweden) | 0.7% |
| E.ON SE (Germany) | 0.7% |
| DCC PLC (Ireland) | 0.7% |
| Keppel Ltd. (Singapore) | 0.6% |
| Singapore Airlines Ltd. (Singapore) | 0.6% |
| Sector | % of Net Assets |
|---|
| Industrials | 27% |
| Consumer Discretionary | 12% |
| Financials | 12% |
| Materials | 10% |
| Consumer Staples | 10% |
| Utilities | 7% |
| Information Technology | 5% |
| Health Care | 5% |
| Energy | 4% |
| Communication Services | 4% |
| Real Estate | 3% |
Geographic Diversification
| Country | % of Net Assets |
|---|
| Japan | 32% |
| United Kingdom | 11% |
| Australia | 9% |
| Sweden | 6% |
| South Korea | 5% |
| Switzerland | 5% |
| Canada | 4% |
| France | 4% |
| Germany | 4% |
| Singapore | 3% |
| Netherlands | 3% |
| Other | 13% |
This is a summary of certain changes of the Fund since September 1, 2023. For more information, review the Fund's current prospectus at dws.com/etfreports, or by calling (844) 851-4255.
Effective August 13, 2024, the Fund’s unitary advisory fee was reduced from 0.35% to 0.24%. At the same time, the Board terminated the contractual expense limitation that capped the fund’s operating expenses at the same level because of the redundancy.
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, and financial statements and other information, please visit dws.com/etfreports. For information about the Fund's proxy voting policies and procedures and how the Fund voted proxies related to its portfolio securities, please visit dws.com/en-us/resources/proxy-voting. This additional information is also available free of charge by contacting us at (844) 851-4255.
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
Investing involves risk, including possible loss of principal. Stocks may decline in value. Because the Fund seeks 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 Fund’s prospectus. 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. Funds investing in a single industry, country or in a limited geographic region generally are more volatile than more diversified funds. Performance of the Fund 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 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.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's investment objectives, risk factors, and charges and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (844) 851‑4255, or visit dws.com/etfreports to view or download a prospectus. Please read the prospectus carefully before you invest.
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.
© 2024 DWS Group. All rights reserved. Xtrackers™ is a trademark of DWS Investment GmbH. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
DEEF-TSRA
R-102612-1 (10/24) DBX006184 (10/25)
Xtrackers MSCI Kokusai Equity ETF
Annual Shareholder Report — August 31, 2024
What were the Fund costs for the last year?
(Based on a hypothetical $10,000 investment)
| Fund | Cost of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|
| KOKU | $10 | 0.09% |
Gross expense ratio as of the latest prospectus: 0.09%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
This annual shareholder report contains important information about the Xtrackers MSCI Kokusai Equity ETF ("the Fund") for the period September 1, 2023 to August 31, 2024. You can find additional information about the Fund at dws.com/etfreports. You can also request this information by contacting us at (844) 851‐4255.
How did the fund perform last year and what affected its performance?
The Fund seeks investment results that correspond generally to the performance, before fees and expenses, of the Fund's underlying index, the MSCI Kokusai Index. The Underlying is also known as the MSCI World ex Japan Index. The Underlying Index is designed to track the performance of equity markets in developed markets (excluding Japan).
The Fund returned 25.07% for the period ended August 31, 2024. The Fund's underlying index returned 24.74% and the Fund's broad-based index the MSCI World Index returned 24.43% during the same period.
All sectors contributed positively to performance during the period with the greatest contribution coming from Information Technology, Financials and Health Care. From a geographical perspective, most countries contributed positively to performance during the period with the greatest contribution coming from United States, United Kingdom and Canada. Hong Kong was the only negative contributor to performance.
MSCI Kokusai Index is designed to track the performance of equity markets in developed markets (excluding Japan). The MSCI Kokusai Index is also known as the MSCI World ex Japan Index.
MSCI World Index captures large and mid-cap representation across Developed Markets countries. The index covers approximately 85% of the free float-adjusted market capitalization in each country.
The MSCI World Index is a broad-based index that represents the Fund’s overall equity market.
Index returns do not reflect any fees or expenses and it is not possible to invest directly into an index.
Cumulative Growth of an Assumed $10,000 Investment
| Xtrackers MSCI Kokusai Equity ETF - NAV | MSCI Kokusai Index (the Underlying Index) | MSCI World Index |
|---|
| 4/8/20 | $10,000 | $10,000 | $10,000 |
| 8/20 | $13,166 | $13,148 | $13,043 |
| 2/21 | $14,672 | $14,634 | $14,572 |
| 8/21 | $17,231 | $17,160 | $16,925 |
| 2/22 | $16,482 | $16,395 | $16,138 |
| 8/22 | $14,723 | $14,620 | $14,374 |
| 2/23 | $15,348 | $15,215 | $14,955 |
| 8/23 | $17,082 | $16,904 | $16,616 |
| 2/24 | $19,215 | $18,992 | $18,687 |
| 8/24 | $21,364 | $21,086 | $20,677 |
| Fund/Index | 1-Year | Since Inception 4/8/20 |
|---|
| Xtrackers MSCI Kokusai Equity ETF - NAV | 25.07% | 18.83% |
| Xtrackers MSCI Kokusai Equity ETF - Market | 25.14% | 18.81% |
| MSCI Kokusai Index | 24.74% | 18.46% |
| MSCI World Index | 24.43% | 17.94% |
Average Annual Total Returns
Performance shown is historical. The Fund's past performance is not a good predictor or guarantee of the Fund's future performance. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. The performance graph and returns table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares. Shares are bought and sold at market price (closing price) not net asset value (NAV) and are not individually redeemed from the Fund. Market Price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined) and do not represent the return you would receiveif you traded at other times. To obtain the most recent month-end performance data visit etf.dws.com/en-us/etf-products or call (844) 851-4255.
| Net Assets ($) | 603,092,260 |
| Number of Portfolio Holdings | 1,216 |
| Portfolio Turnover Rate (%) | 3 |
| Total Net Advisory Fees Paid ($) | 492,045 |
What did the Fund invest in?
Holding based data is subject to change.
Ten Largest Equity Holdings
| Holding | 24.6% of Net Assets |
|---|
| Apple, Inc. (United States) | 5.1% |
| Microsoft Corp. (United States) | 4.5% |
| NVIDIA Corp. (United States) | 4.5% |
| Amazon.com, Inc. (United States) | 2.6% |
| Meta Platforms, Inc. (United States) | 1.8% |
| Alphabet, Inc. (United States) | 1.5% |
| Alphabet, Inc. (United States) | 1.3% |
| Eli Lilly & Co. (United States) | 1.2% |
| Broadcom, Inc. (United States) | 1.1% |
| JPMorgan Chase & Co. (United States) | 1.0% |
| Sector | % of Net Assets |
|---|
| Information Technology | 25% |
| Financials | 16% |
| Health Care | 13% |
| Industrials | 10% |
| Consumer Discretionary | 9% |
| Communication Services | 7% |
| Consumer Staples | 7% |
| Materials | 4% |
| Energy | 4% |
| Utilities | 3% |
| Real Estate | 2% |
Geographic Diversification
| Country | % of Net Assets |
|---|
| United States | 74% |
| United Kingdom | 4% |
| Canada | 3% |
| Switzerland | 3% |
| France | 3% |
| Germany | 2% |
| Australia | 2% |
| Netherlands | 2% |
| Other | 7% |
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, and financial statements and other information, please visit dws.com/etfreports. For information about the Fund's proxy voting policies and procedures and how the Fund voted proxies related to its portfolio securities, please visit dws.com/en-us/resources/proxy-voting. This additional information is also available free of charge by contacting us at (844) 851-4255.
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
Investing involves risk, including 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. Investing in derivatives entails special risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility. Performance of a fund may diverge from that of an 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.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's investment objectives, risk factors, and charges and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (844) 851‑4255, or visit dws.com/etfreports to view or download a prospectus. Please read the prospectus carefully before you invest.
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.
© 2024 DWS Group. All rights reserved. Xtrackers™ is a trademark of DWS Investment GmbH. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
KOKU-TSRA
R-102626-1 (10/24) DBX006185 (10/25)
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF
Annual Shareholder Report — August 31, 2024
What were the Fund costs for the last year?
(Based on a hypothetical $10,000 investment)
| Fund | Cost of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|
| QARP | $21 | 0.19% |
Gross expense ratio as of the latest prospectus: 0.19%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
This annual shareholder report contains important information about the Xtrackers Russell 1000 US Quality at a Reasonable Price ETF ("the Fund") for the period September 1, 2023 to August 31, 2024. You can find additional information about the Fund at dws.com/etfreports. You can also request this information by contacting us at (844) 851‐4255.
How did the fund perform last year and what affected its performance?
The Fund seeks investment results that correspond generally to the performance, before fees and expenses, of the Fund's underlying index, the Russell 1000® 2Qual/Val 5% Capped Factor 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.
The Fund returned 21.45% for the period ended August 31, 2024. The Fund's underlying index returned 21.72% and the Fund's broad-based index the Russell 1000® Index returned 26.60% during the same period.
All sectors contributed positively to performance during the period with the greatest contribution coming from Information Technology, Communication Services and Consumer Staples.
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 Russell 1000® 2Qual/Val 5% Capped Factor Index are derived from its starting universe, the Russell 1000® Index.
Russell 1000® Index measures the performance of the large-cap segment of the US equity universe, is a subset of the Russell 3000® Index and represents approximately 93% of the US equity market.
The Russell 1000® Index is a broad-based index that represents the Fund’s overall equity market.
Index returns do not reflect any fees or expenses and it is not possible to invest directly into an index.
Cumulative Growth of an Assumed $10,000 Investment
| Xtrackers Russell 1000 US QARP ETF - NAV | Russell 1000® 2Qual/Val 5% Capped Factor Index (the Underlying Index) | Russell 1000® Index |
|---|
| 4/5/18 | $10,000 | $10,000 | $10,000 |
| 4/30/18 | $9,948 | $9,950 | $10,023 |
| 5/31/18 | $10,184 | $10,188 | $10,279 |
| 6/30/18 | $10,253 | $10,259 | $10,346 |
| 7/31/18 | $10,620 | $10,628 | $10,703 |
| 8/31/18 | $10,953 | $10,965 | $11,072 |
| 9/30/18 | $11,023 | $11,036 | $11,114 |
| 10/31/18 | $10,326 | $10,339 | $10,327 |
| 11/30/18 | $10,481 | $10,497 | $10,537 |
| 12/31/18 | $9,525 | $9,539 | $9,578 |
| 1/31/19 | $10,273 | $10,290 | $10,380 |
| 2/28/19 | $10,630 | $10,650 | $10,732 |
| 3/31/19 | $10,776 | $10,797 | $10,919 |
| 4/30/19 | $11,086 | $11,109 | $11,359 |
| 5/31/19 | $10,312 | $10,334 | $10,636 |
| 6/30/19 | $11,057 | $11,083 | $11,382 |
| 7/31/19 | $11,294 | $11,322 | $11,559 |
| 8/31/19 | $11,063 | $11,097 | $11,347 |
| 9/30/19 | $11,296 | $11,352 | $11,544 |
| 10/31/19 | $11,618 | $11,674 | $11,789 |
| 11/30/19 | $12,085 | $12,147 | $12,234 |
| 12/31/19 | $12,441 | $12,506 | $12,587 |
| 1/31/20 | $12,209 | $12,275 | $12,601 |
| 2/29/20 | $11,200 | $11,261 | $11,571 |
| 3/31/20 | $9,680 | $9,732 | $10,042 |
| 4/30/20 | $10,986 | $11,047 | $11,369 |
| 5/31/20 | $11,655 | $11,722 | $11,969 |
| 6/30/20 | $11,829 | $11,899 | $12,234 |
| 7/31/20 | $12,252 | $12,325 | $12,950 |
| 8/31/20 | $13,134 | $13,216 | $13,901 |
| 9/30/20 | $12,626 | $12,706 | $13,393 |
| 10/31/20 | $12,236 | $12,314 | $13,070 |
| 11/30/20 | $13,746 | $13,835 | $14,609 |
| 12/31/20 | $14,271 | $14,365 | $15,226 |
| 1/31/21 | $14,135 | $14,229 | $15,101 |
| 2/28/21 | $14,822 | $14,926 | $15,538 |
| 3/31/21 | $15,663 | $15,780 | $16,126 |
| 4/30/21 | $16,337 | $16,462 | $16,995 |
| 5/31/21 | $16,547 | $16,676 | $17,075 |
| 6/30/21 | $16,930 | $17,064 | $17,503 |
| 7/31/21 | $17,310 | $17,450 | $17,867 |
| 8/31/21 | $17,766 | $17,914 | $18,384 |
| 9/30/21 | $16,863 | $17,004 | $17,539 |
| 10/31/21 | $17,888 | $18,040 | $18,756 |
| 11/30/21 | $17,806 | $17,961 | $18,505 |
| 12/31/21 | $18,779 | $18,946 | $19,254 |
| 1/31/22 | $17,859 | $18,021 | $18,169 |
| 2/28/22 | $17,341 | $17,502 | $17,670 |
| 3/31/22 | $17,989 | $18,158 | $18,266 |
| 4/30/22 | $16,709 | $16,874 | $16,638 |
| 5/31/22 | $16,676 | $16,840 | $16,613 |
| 6/30/22 | $15,349 | $15,504 | $15,222 |
| 7/31/22 | $16,630 | $16,800 | $16,639 |
| 8/31/22 | $16,020 | $16,184 | $16,000 |
| 9/30/22 | $14,601 | $14,752 | $14,520 |
| 10/31/22 | $15,897 | $16,064 | $15,684 |
| 11/30/22 | $16,962 | $17,145 | $16,533 |
| 12/31/22 | $16,056 | $16,231 | $15,572 |
| 1/31/23 | $16,984 | $17,173 | $16,616 |
| 2/28/23 | $16,454 | $16,639 | $16,220 |
| 3/31/23 | $17,192 | $17,388 | $16,733 |
| 4/30/23 | $17,510 | $17,712 | $16,941 |
| 5/31/23 | $17,313 | $17,515 | $17,020 |
| 6/30/23 | $18,420 | $18,640 | $18,169 |
| 7/31/23 | $19,083 | $19,316 | $18,794 |
| 8/31/23 | $18,845 | $19,078 | $18,465 |
| 9/30/23 | $18,231 | $18,461 | $17,597 |
| 10/31/23 | $17,659 | $17,884 | $17,172 |
| 11/30/23 | $18,862 | $19,106 | $18,776 |
| 12/31/23 | $19,703 | $19,962 | $19,703 |
| 1/31/24 | $19,897 | $20,163 | $19,977 |
| 2/29/24 | $20,847 | $21,129 | $21,056 |
| 3/31/24 | $21,597 | $21,894 | $21,731 |
| 4/30/24 | $20,569 | $20,854 | $20,806 |
| 5/31/24 | $21,393 | $21,693 | $21,786 |
| 6/30/24 | $21,840 | $22,149 | $22,507 |
| 7/31/24 | $22,372 | $22,695 | $22,835 |
| 8/31/24 | $22,888 | $23,222 | $23,376 |
Yearly periods ended August 31
| Fund/Index | 1-Year | 5-Year | Since Inception 4/5/18 |
|---|
| Xtrackers Russell 1000 US QARP ETF - NAV | 21.45% | 15.65% | 13.79% |
| Xtrackers Russell 1000 US QARP ETF - Market | 21.35% | 15.67% | 13.77% |
Russell 1000® 2Qual/Val 5% Capped Factor Index | 21.72% | 15.91% | 14.04% |
Russell 1000® Index | 26.60% | 15.55% | 14.16% |
Average Annual Total Returns
Performance shown is historical. The Fund's past performance is not a good predictor or guarantee of the Fund's future performance. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. The performance graph and returns table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares. Shares are bought and sold at market price (closing price) not net asset value (NAV) and are not individually redeemed from the Fund. Market Price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined) and do not represent the return you would receiveif you traded at other times. To obtain the most recent month-end performance data visit etf.dws.com/en-us/etf-products or call (844) 851-4255.
| Net Assets ($) | 68,286,335 |
| Number of Portfolio Holdings | 350 |
| Portfolio Turnover Rate (%) | 22 |
| Total Net Advisory Fees Paid ($) | 114,535 |
What did the Fund invest in?
Holding based data is subject to change.
Ten Largest Equity Holdings
| Holding | 36.6% of Net Assets |
|---|
| Berkshire Hathaway, Inc. | 5.5% |
| Apple, Inc. | 5.1% |
| Meta Platforms, Inc. | 4.9% |
| Alphabet, Inc. | 4.4% |
| Amazon.com, Inc. | 3.5% |
| Exxon Mobil Corp. | 3.2% |
| Walmart, Inc. | 2.7% |
| Johnson & Johnson | 2.6% |
| UnitedHealth Group, Inc. | 2.4% |
| Costco Wholesale Corp. | 2.3% |
| Sector | % of Net Assets |
|---|
| Information Technology | 16% |
| Consumer Discretionary | 15% |
| Health Care | 14% |
| Financials | 13% |
| Communication Services | 12% |
| Consumer Staples | 11% |
| Industrials | 8% |
| Energy | 8% |
| Materials | 2% |
| Real Estate | 1% |
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, and financial statements and other information, please visit dws.com/etfreports. For information about the Fund's proxy voting policies and procedures and how the Fund voted proxies related to its portfolio securities, please visit dws.com/en-us/resources/proxy-voting. This additional information is also available free of charge by contacting us at (844) 851-4255.
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
Investing involves risk, including possible loss of principal. Stocks may decline in value. Funds investing in a single industry, country or in a limited geographic region generally are more volatile than more diversified funds. Because the Fund seeks to provide exposure to stocks based on the following factors – quality and value – it is expected exposure to such investment factors will detract from performance in some market environments, as more fully explained in the Fund’s prospectus. Performance of the Fund 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 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.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's investment objectives, risk factors, and charges and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (844) 851‑4255, or visit dws.com/etfreports to view or download a prospectus. Please read the prospectus carefully before you invest.
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.
© 2024 DWS Group. All rights reserved. Xtrackers™ is a trademark of DWS Investment GmbH. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
QARP-TSRA
R-102627-1 (10/24) DBX006186 (10/25)
Xtrackers Russell US Multifactor ETF
Annual Shareholder Report — August 31, 2024
What were the Fund costs for the last year?
(Based on a hypothetical $10,000 investment)
| Fund | Cost of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|
| DEUS | $19 | 0.17% |
Gross expense ratio as of the latest prospectus: 0.17%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
This annual shareholder report contains important information about the Xtrackers Russell US Multifactor ETF ("the Fund") for the period September 1, 2023 to August 31, 2024. You can find additional information about the Fund at dws.com/etfreports. You can also request this information by contacting us at (844) 851‐4255.
How did the fund perform last year and what affected its performance?
The Fund seeks investment results that correspond generally to the performance, before fees and expenses, of the Fund's underlying index, the Russell 1000® Comprehensive Factor 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.
The Fund returned 21.78% for the period ended August 31, 2024. The Fund's underlying index returned 21.94% and the Fund's broad-based index the Russell 1000® Index returned 26.60% during the same period.
All sectors contributed positively to performance during the period with the greatest contribution coming from Industrials, Financials and Consumer Discretionary.
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 quality, value, momentum, low volatility and size. The companies eligible for the Underlying Index are derived from its starting universe, the Russell 1000® Index.
Russell 1000® Index measures the performance of the large-cap segment of the US equity universe, is a subset of the Russell 3000® Index and represents approximately 93% of the US equity market.
The Russell 1000® Index is a broad-based index that represents the Fund’s overall equity market.
Index returns do not reflect any fees or expenses and it is not possible to invest directly into an index.
Cumulative Growth of an Assumed $10,000 Investment
| Xtrackers Russell US Multifactor ETF - NAV | Russell 1000® Comprehensive Factor Index (the Underlying Index) | Russell 1000® Index |
|---|
| 11/24/15 | $10,000 | $10,000 | $10,000 |
| 11/30/15 | $10,004 | $10,003 | $9,983 |
| 12/31/15 | $9,856 | $9,862 | $9,803 |
| 1/31/16 | $9,448 | $9,452 | $9,275 |
| 2/29/16 | $9,608 | $9,613 | $9,272 |
| 3/31/16 | $10,273 | $10,282 | $9,918 |
| 4/30/16 | $10,257 | $10,269 | $9,972 |
| 5/31/16 | $10,438 | $10,452 | $10,147 |
| 6/30/16 | $10,563 | $10,579 | $10,170 |
| 7/31/16 | $10,878 | $10,897 | $10,557 |
| 8/31/16 | $10,806 | $10,826 | $10,571 |
| 9/30/16 | $10,734 | $10,755 | $10,579 |
| 10/31/16 | $10,498 | $10,525 | $10,373 |
| 11/30/16 | $10,953 | $10,982 | $10,782 |
| 12/31/16 | $11,118 | $11,151 | $10,985 |
| 1/31/17 | $11,344 | $11,380 | $11,205 |
| 2/28/17 | $11,759 | $11,801 | $11,639 |
| 3/31/17 | $11,756 | $11,800 | $11,647 |
| 4/30/17 | $11,899 | $11,945 | $11,770 |
| 5/31/17 | $11,983 | $12,032 | $11,920 |
| 6/30/17 | $12,057 | $12,109 | $12,003 |
| 7/31/17 | $12,223 | $12,276 | $12,241 |
| 8/31/17 | $12,185 | $12,240 | $12,279 |
| 9/30/17 | $12,526 | $12,585 | $12,541 |
| 10/31/17 | $12,812 | $12,874 | $12,828 |
| 11/30/17 | $13,307 | $13,375 | $13,219 |
| 12/31/17 | $13,334 | $13,405 | $13,367 |
| 1/31/18 | $13,871 | $13,946 | $14,101 |
| 2/28/18 | $13,320 | $13,393 | $13,583 |
| 3/31/18 | $13,274 | $13,352 | $13,275 |
| 4/30/18 | $13,189 | $13,267 | $13,320 |
| 5/31/18 | $13,413 | $13,491 | $13,660 |
| 6/30/18 | $13,444 | $13,525 | $13,748 |
| 7/31/18 | $13,883 | $13,968 | $14,223 |
| 8/31/18 | $14,250 | $14,340 | $14,713 |
| 9/30/18 | $14,162 | $14,252 | $14,768 |
| 10/31/18 | $13,137 | $13,222 | $13,723 |
| 11/30/18 | $13,445 | $13,534 | $14,003 |
| 12/31/18 | $12,166 | $12,241 | $12,727 |
| 1/31/19 | $13,185 | $13,270 | $13,794 |
| 2/28/19 | $13,707 | $13,798 | $14,261 |
| 3/31/19 | $13,831 | $13,925 | $14,509 |
| 4/30/19 | $14,316 | $14,415 | $15,095 |
| 5/31/19 | $13,553 | $13,648 | $14,133 |
| 6/30/19 | $14,469 | $14,573 | $15,126 |
| 7/31/19 | $14,657 | $14,763 | $15,360 |
| 8/31/19 | $14,471 | $14,578 | $15,079 |
| 9/30/19 | $14,794 | $14,907 | $15,340 |
| 10/31/19 | $14,944 | $15,060 | $15,666 |
| 11/30/19 | $15,384 | $15,506 | $16,258 |
| 12/31/19 | $15,658 | $15,782 | $16,727 |
| 1/31/20 | $15,464 | $15,589 | $16,745 |
| 2/29/20 | $14,038 | $14,149 | $15,377 |
| 3/31/20 | $11,454 | $11,534 | $13,345 |
| 4/30/20 | $12,942 | $13,034 | $15,108 |
| 5/31/20 | $13,810 | $13,910 | $15,905 |
| 6/30/20 | $13,918 | $14,019 | $16,257 |
| 7/31/20 | $14,733 | $14,846 | $17,209 |
| 8/31/20 | $15,185 | $15,299 | $18,472 |
| 9/30/20 | $14,830 | $14,944 | $17,797 |
| 10/31/20 | $14,759 | $14,875 | $17,368 |
| 11/30/20 | $16,339 | $16,463 | $19,413 |
| 12/31/20 | $16,983 | $17,114 | $20,234 |
| 1/31/21 | $16,828 | $16,962 | $20,067 |
| 2/28/21 | $17,392 | $17,531 | $20,649 |
| 3/31/21 | $18,451 | $18,607 | $21,430 |
| 4/30/21 | $19,299 | $19,466 | $22,584 |
| 5/31/21 | $19,541 | $19,713 | $22,691 |
| 6/30/21 | $19,542 | $19,716 | $23,259 |
| 7/31/21 | $19,891 | $20,069 | $23,742 |
| 8/31/21 | $20,474 | $20,659 | $24,430 |
| 9/30/21 | $19,518 | $19,699 | $23,307 |
| 10/31/21 | $20,671 | $20,865 | $24,925 |
| 11/30/21 | $20,263 | $20,453 | $24,590 |
| 12/31/21 | $21,495 | $21,702 | $25,586 |
| 1/31/22 | $20,159 | $20,353 | $24,144 |
| 2/28/22 | $19,860 | $20,055 | $23,481 |
| 3/31/22 | $20,373 | $20,572 | $24,274 |
| 4/30/22 | $19,140 | $19,335 | $22,110 |
| 5/31/22 | $19,417 | $19,617 | $22,076 |
| 6/30/22 | $17,877 | $18,063 | $20,227 |
| 7/31/22 | $19,242 | $19,443 | $22,111 |
| 8/31/22 | $18,673 | $18,873 | $21,262 |
| 9/30/22 | $17,074 | $17,259 | $19,295 |
| 10/31/22 | $18,810 | $19,018 | $20,843 |
| 11/30/22 | $20,040 | $20,266 | $21,970 |
| 12/31/22 | $19,112 | $19,333 | $20,693 |
| 1/31/23 | $20,209 | $20,443 | $22,080 |
| 2/28/23 | $19,695 | $19,926 | $21,554 |
| 3/31/23 | $19,646 | $19,878 | $22,236 |
| 4/30/23 | $19,664 | $19,899 | $22,512 |
| 5/31/23 | $18,895 | $19,116 | $22,617 |
| 6/30/23 | $20,501 | $20,747 | $24,144 |
| 7/31/23 | $21,017 | $21,271 | $24,974 |
| 8/31/23 | $20,562 | $20,812 | $24,538 |
| 9/30/23 | $19,739 | $19,982 | $23,384 |
| 10/31/23 | $19,044 | $19,279 | $22,819 |
| 11/30/23 | $20,660 | $20,915 | $24,950 |
| 12/31/23 | $21,932 | $22,209 | $26,182 |
| 1/31/24 | $21,968 | $22,244 | $26,547 |
| 2/29/24 | $23,063 | $23,356 | $27,981 |
| 3/31/24 | $24,071 | $24,382 | $28,878 |
| 4/30/24 | $22,705 | $22,998 | $27,649 |
| 5/31/24 | $23,378 | $23,679 | $28,951 |
| 6/30/24 | $23,334 | $23,634 | $29,909 |
| 7/31/24 | $24,486 | $24,814 | $30,344 |
| 8/31/24 | $25,040 | $25,379 | $31,064 |
Yearly periods ended August 31
| Fund/Index | 1-Year | 5-Year | Since Inception 11/24/15 |
|---|
| Xtrackers Russell US Multifactor ETF - NAV | 21.78% | 11.59% | 11.03% |
| Xtrackers Russell US Multifactor ETF - Market | 21.81% | 11.60% | 11.02% |
Russell 1000® Comprehensive Factor Index | 21.94% | 11.73% | 11.19% |
Russell 1000® Index | 26.60% | 15.55% | 13.78% |
Average Annual Total Returns
Performance shown is historical. The Fund's past performance is not a good predictor or guarantee of the Fund's future performance. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. The performance graph and returns table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares. Shares are bought and sold at market price (closing price) not net asset value (NAV) and are not individually redeemed from the Fund. Market Price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined) and do not represent the return you would receiveif you traded at other times. To obtain the most recent month-end performance data visit etf.dws.com/en-us/etf-products or call (844) 851-4255.
| Net Assets ($) | 167,515,191 |
| Number of Portfolio Holdings | 858 |
| Portfolio Turnover Rate (%) | 41 |
| Total Net Advisory Fees Paid ($) | 248,820 |
What did the Fund invest in?
Holding based data is subject to change.
Ten Largest Equity Holdings
| Holding | 7.7% of Net Assets |
|---|
| McKesson Corp. | 1.1% |
| Arch Capital Group Ltd. | 1.1% |
| Cardinal Health, Inc. | 0.9% |
| Centene Corp. | 0.7% |
| Cencora, Inc. | 0.7% |
| Leidos Holdings, Inc. | 0.7% |
| PulteGroup, Inc. | 0.7% |
| Ferguson Enterprises, Inc. | 0.6% |
| GoDaddy, Inc. | 0.6% |
| D.R. Horton, Inc. | 0.6% |
| Sector | % of Net Assets |
|---|
| Industrials | 19% |
| Financials | 16% |
| Information Technology | 14% |
| Consumer Discretionary | 12% |
| Health Care | 11% |
| Consumer Staples | 7% |
| Utilities | 6% |
| Materials | 6% |
| Communication Services | 3% |
| Real Estate | 3% |
| Energy | 2% |
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, and financial statements and other information, please visit dws.com/etfreports. For information about the Fund's proxy voting policies and procedures and how the Fund voted proxies related to its portfolio securities, please visit dws.com/en-us/resources/proxy-voting. This additional information is also available free of charge by contacting us at (844) 851-4255.
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
Investing involves risk, including possible loss of principal. Stocks may decline in value. Funds investing in a single industry, country or in a limited geographic region generally are more volatile than more diversified funds. Because the Fund seeks 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 fund’s prospectus. Performance of the Fund 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 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.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's investment objectives, risk factors, and charges and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (844) 851‑4255, or visit dws.com/etfreports to view or download a prospectus. Please read the prospectus carefully before you invest.
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.
© 2024 DWS Group. All rights reserved. Xtrackers™ is a trademark of DWS Investment GmbH. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
DEUS-TSRA
R-102628-1 (10/24) DBX006187 (10/25)
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF
Annual Shareholder Report — August 31, 2024
What were the Fund costs for the last year?
(Based on a hypothetical $10,000 investment)
| Fund | Cost of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|
| EMCR | $16 | 0.15% |
Gross expense ratio as of the latest prospectus: 0.15%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
This annual shareholder report contains important information about the Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF ("the Fund") for the period September 1, 2023 to August 31, 2024. You can find additional information about the Fund at dws.com/etfreports. You can also request this information by contacting us at (844) 851‐4255.
How did the fund perform last year and what affected its performance?
The Fund seeks investment results that correspond generally to the performance, before fees and expenses, of the Fund's underlying index, the Solactive ISS Emerging Markets Carbon Reduction & Climate Improvers Index NTR. 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.
The Fund returned 14.88% for the period ended August 31, 2024. The Fund's underlying index returned 16.44% and the Fund's broad-based index the MSCI Emerging Markets Index returned 15.07% during the same period.
The majority of sectors contributed positively to performance during the period with the greatest contribution coming from Information Technology, Financials and Communication Services. The Materials, Industrials and Energy sectors detracted from performance. From a geographical perspective, the majority of countries contributed positively to performance during the period with the greatest contribution coming from Taiwan, India and Korea while China, United States and Mexico contributed negatively to performance.
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 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.
MSCI Emerging Markets Index captures large and mid-cap representation across Emerging Markets countries. The index covers approximately 85% of the free float-adjusted market capitalization in each country.
The MSCI Emerging Markets Index is a broad-based index that represents the Fund’s overall equity market.
Index returns do not reflect any fees or expenses and it is not possible to invest directly into an index.
Cumulative Growth of an Assumed $10,000 Investment
| Xtrackers Emerging Markets Carbon Reduction and CI ETF - NAV | Solactive ISS Emerging Markets Carbon Reduction & Climate Improvers Index NTR (the Underlying Index) | MSCI Emerging Markets Index |
|---|
| 12/6/18 | $10,000 | $10,000 | $10,000 |
| 12/31/18 | $9,478 | $9,481 | $9,546 |
| 1/31/19 | $10,176 | $10,179 | $10,383 |
| 2/28/19 | $10,363 | $10,366 | $10,406 |
| 3/31/19 | $10,414 | $10,413 | $10,494 |
| 4/30/19 | $10,708 | $10,713 | $10,715 |
| 5/31/19 | $10,156 | $10,164 | $9,937 |
| 6/30/19 | $10,754 | $10,763 | $10,557 |
| 7/31/19 | $10,629 | $10,640 | $10,428 |
| 8/31/19 | $10,344 | $10,356 | $9,920 |
| 9/30/19 | $10,623 | $10,633 | $10,109 |
| 10/31/19 | $11,039 | $11,052 | $10,535 |
| 11/30/19 | $11,154 | $11,172 | $10,521 |
| 12/31/19 | $11,614 | $11,634 | $11,306 |
| 1/31/20 | $11,341 | $11,368 | $10,779 |
| 2/29/20 | $10,494 | $10,516 | $10,210 |
| 3/31/20 | $9,073 | $9,087 | $8,638 |
| 4/30/20 | $9,779 | $9,794 | $9,429 |
| 5/31/20 | $10,126 | $10,142 | $9,501 |
| 6/30/20 | $10,636 | $10,650 | $10,200 |
| 7/31/20 | $11,198 | $11,215 | $11,111 |
| 8/31/20 | $11,663 | $11,685 | $11,357 |
| 9/30/20 | $11,433 | $11,450 | $10,883 |
| 10/31/20 | $11,214 | $11,229 | $10,649 |
| 11/30/20 | $12,588 | $12,602 | $12,081 |
| 12/31/20 | $13,166 | $13,180 | $12,734 |
| 1/31/21 | $13,326 | $13,344 | $12,762 |
| 2/28/21 | $13,457 | $13,478 | $13,015 |
| 3/31/21 | $13,624 | $13,646 | $13,179 |
| 4/30/21 | $13,996 | $14,015 | $13,567 |
| 5/31/21 | $14,337 | $14,359 | $13,977 |
| 6/30/21 | $14,326 | $14,360 | $13,901 |
| 7/31/21 | $14,085 | $14,123 | $13,672 |
| 8/31/21 | $14,794 | $14,878 | $13,755 |
| 9/30/21 | $14,125 | $14,223 | $13,209 |
| 10/31/21 | $14,280 | $14,377 | $13,339 |
| 11/30/21 | $13,776 | $13,871 | $12,795 |
| 12/31/21 | $14,000 | $14,104 | $13,035 |
| 1/31/22 | $13,922 | $14,022 | $12,789 |
| 2/28/22 | $13,479 | $13,617 | $12,406 |
| 3/31/22 | $13,305 | $13,400 | $12,126 |
| 4/30/22 | $12,527 | $12,620 | $11,452 |
| 5/31/22 | $12,549 | $12,647 | $11,502 |
| 6/30/22 | $11,713 | $11,803 | $10,738 |
| 7/31/22 | $11,661 | $11,750 | $10,711 |
| 8/31/22 | $11,709 | $11,806 | $10,756 |
| 9/30/22 | $10,331 | $10,417 | $9,495 |
| 10/31/22 | $9,987 | $10,070 | $9,200 |
| 11/30/22 | $11,489 | $11,590 | $10,565 |
| 12/31/22 | $11,313 | $11,416 | $10,416 |
| 1/31/23 | $12,258 | $12,369 | $11,239 |
| 2/28/23 | $11,487 | $11,594 | $10,510 |
| 3/31/23 | $11,830 | $11,941 | $10,829 |
| 4/30/23 | $11,640 | $11,750 | $10,706 |
| 5/31/23 | $11,554 | $11,669 | $10,526 |
| 6/30/23 | $12,000 | $12,122 | $10,926 |
| 7/31/23 | $12,687 | $12,822 | $11,606 |
| 8/31/23 | $11,946 | $12,074 | $10,891 |
| 9/30/23 | $11,605 | $11,734 | $10,606 |
| 10/31/23 | $11,163 | $11,284 | $10,194 |
| 11/30/23 | $12,124 | $12,270 | $11,010 |
| 12/31/23 | $12,526 | $12,704 | $11,440 |
| 1/31/24 | $11,978 | $12,158 | $10,909 |
| 2/29/24 | $12,537 | $12,738 | $11,428 |
| 3/31/24 | $12,816 | $13,022 | $11,679 |
| 4/30/24 | $12,851 | $13,059 | $11,764 |
| 5/31/24 | $12,935 | $13,143 | $11,830 |
| 6/30/24 | $13,463 | $13,719 | $12,297 |
| 7/31/24 | $13,529 | $13,804 | $12,333 |
| 8/31/24 | $13,724 | $14,059 | $12,532 |
Yearly periods ended August 31
| Fund/Index | 1-Year | 5-Year | Since Inception 12/6/18 |
|---|
| Xtrackers Emerging Markets Carbon Reduction and CI ETF - NAV | 14.88% | 5.82% | 5.67% |
| Xtrackers Emerging Markets Carbon Reduction and CI ETF - Market | 14.54% | 5.74% | 5.60% |
| Solactive ISS Emerging Markets Carbon Reduction & Climate Improvers Index NTR | 16.44% | 6.31% | 6.11% |
| MSCI Emerging Markets Index | 15.07% | 4.79% | 4.01% |
Average Annual Total Returns
Prior to August 18, 2021, the Fund operated with a different investment strategy, including tracking a different underlying index. Performance may have been different if the Fund’s current investment strategy had been in effect. Index returns prior to August 18, 2021 reflect that of the prior underlying index.
Performance shown is historical. The Fund's past performance is not a good predictor or guarantee of the Fund's future performance. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. The performance graph and returns table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares. Shares are bought and sold at market price (closing price) not net asset value (NAV) and are not individually redeemed from the Fund. Market Price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined) and do not represent the return you would receiveif you traded at other times. To obtain the most recent month-end performance data visit etf.dws.com/en-us/etf-products or call (844) 851-4255.
| Net Assets ($) | 94,262,904 |
| Number of Portfolio Holdings | 1,424 |
| Portfolio Turnover Rate (%) | 79 |
| Total Net Advisory Fees Paid ($) | 671,017 |
What did the Fund invest in?
Holding based data is subject to change.
Ten Largest Equity Holdings
| Holding | 27.0% of Net Assets |
|---|
| Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) | 9.1% |
| Tencent Holdings Ltd. (China) | 5.1% |
| Alibaba Group Holding Ltd. (China) | 2.8% |
| Samsung Electronics Co. Ltd. (South Korea) | 2.7% |
| Infosys Ltd. (India) | 1.7% |
| Meituan (China) | 1.2% |
| Tata Consultancy Services Ltd. (India) | 1.1% |
| HDFC Bank Ltd. (India) | 1.1% |
| International Holding Co. PJSC (United Arab Emirates) | 1.1% |
| PDD Holdings, Inc. (Ireland) | 1.1% |
| Sector | % of Net Assets |
|---|
| Information Technology | 26% |
| Financials | 23% |
| Consumer Discretionary | 13% |
| Communication Services | 12% |
| Health Care | 6% |
| Industrials | 6% |
| Consumer Staples | 5% |
| Materials | 4% |
| Real Estate | 2% |
| Utilities | 1% |
Geographic Diversification
| Country | % of Net Assets |
|---|
| China | 25% |
| Taiwan | 20% |
| India | 19% |
| South Korea | 10% |
| Brazil | 4% |
| South Africa | 3% |
| Saudi Arabia | 3% |
| United Arab Emirates | 2% |
| Mexico | 2% |
| Thailand | 2% |
| Other | 8% |
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, and financial statements and other information, please visit dws.com/etfreports. For information about the Fund's proxy voting policies and procedures and how the Fund voted proxies related to its portfolio securities, please visit dws.com/en-us/resources/proxy-voting. This additional information is also available free of charge by contacting us at (844) 851-4255.
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
Investing involves risk, including possible loss of principal. Incorporation of ESG criteria in the Fund's investment strategy does not guarantee a return or protect against a 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. The Underlying Index's methodology for identifying companies attempting to reduce their carbon footprint 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 follow a carbon reduction strategy. 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. Performance of the Fund 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 this 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. 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. Please read the applicable prospectus for more information.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's investment objectives, risk factors, and charges and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (844) 851‑4255, or visit dws.com/etfreports to view or download a prospectus. Please read the prospectus carefully before you invest.
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.
© 2024 DWS Group. All rights reserved. Xtrackers™ is a trademark of DWS Investment GmbH. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
EMCR-TSRA
R-102635-1 (10/24) DBX006194 (10/25)
Xtrackers MSCI EAFE ESG Leaders Equity ETF
Annual Shareholder Report — August 31, 2024
What were the Fund costs for the last year?
(Based on a hypothetical $10,000 investment)
| Fund | Cost of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|
| EASG | $15 | 0.14% |
Gross expense ratio as of the latest prospectus: 0.14%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
This annual shareholder report contains important information about the Xtrackers MSCI EAFE ESG Leaders Equity ETF ("the Fund") for the period September 1, 2023 to August 31, 2024. You can find additional information about the Fund at dws.com/etfreports. You can also request this information by contacting us at (844) 851‐4255.
How did the fund perform last year and what affected its performance?
The Fund seeks investment results that correspond generally to the performance, before fees and expenses, of the Fund's underlying index, the MSCI EAFE ESG Leaders 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.
The Fund returned 20.32% for the period ended August 31, 2024. The Fund's underlying index returned 20.35% and the Fund's broad-based index the MSCI EAFE Index returned 19.40% during the same period.
All sectors contributed positively to performance during the period with the greatest contribution coming from Financials, Health Care and Industrials. From a geographical perspective, the majority of countries contributed positively to performance during the period with the greatest contribution coming from Japan, United Kingdom and China while Hong Kong contributed negatively to performance.
MSCI EAFE ESG Leaders Index is a capitalization weighted index that provides exposure to companies with high environmental, social and governance (“ESG”) performance relative to their sector peers and consists of large- and medium-capitalization companies across developed markets countries, excluding Canada and the United States.
MSCI EAFE Index is an equity index which captures large and mid-cap representation across Developed Markets countries around the world, excluding the US and Canada. The index covers approximately 85% of the free float-adjusted market capitalization in each country.
The MSCI EAFE Index is a broad-based index that represents the Fund’s overall equity market.
Index returns do not reflect any fees or expenses and it is not possible to invest directly into an index.
Cumulative Growth of an Assumed $10,000 Investment
| Xtrackers MSCI EAFE ESG Leaders Equity ETF - NAV | MSCI EAFE ESG Leaders Index (the Underlying Index) | MSCI EAFE Index |
|---|
| 9/6/18 | $10,000 | $10,000 | $10,000 |
| 9/30/18 | $10,245 | $10,245 | $10,287 |
| 10/31/18 | $9,399 | $9,396 | $9,468 |
| 11/30/18 | $9,461 | $9,461 | $9,457 |
| 12/31/18 | $8,988 | $8,984 | $8,998 |
| 1/31/19 | $9,532 | $9,533 | $9,589 |
| 2/28/19 | $9,773 | $9,776 | $9,833 |
| 3/31/19 | $9,817 | $9,820 | $9,895 |
| 4/30/19 | $10,120 | $10,113 | $10,173 |
| 5/31/19 | $9,691 | $9,681 | $9,685 |
| 6/30/19 | $10,274 | $10,265 | $10,259 |
| 7/31/19 | $10,121 | $10,115 | $10,129 |
| 8/31/19 | $9,911 | $9,905 | $9,867 |
| 9/30/19 | $10,256 | $10,249 | $10,149 |
| 10/31/19 | $10,687 | $10,681 | $10,514 |
| 11/30/19 | $10,797 | $10,792 | $10,633 |
| 12/31/19 | $11,134 | $11,130 | $10,978 |
| 1/31/20 | $10,964 | $10,960 | $10,749 |
| 2/29/20 | $10,016 | $10,014 | $9,777 |
| 3/31/20 | $8,799 | $8,792 | $8,472 |
| 4/30/20 | $9,363 | $9,355 | $9,020 |
| 5/31/20 | $9,802 | $9,796 | $9,412 |
| 6/30/20 | $10,152 | $10,146 | $9,733 |
| 7/31/20 | $10,413 | $10,406 | $9,960 |
| 8/31/20 | $10,911 | $10,903 | $10,472 |
| 9/30/20 | $10,687 | $10,677 | $10,200 |
| 10/31/20 | $10,190 | $10,183 | $9,792 |
| 11/30/20 | $11,774 | $11,767 | $11,310 |
| 12/31/20 | $12,298 | $12,293 | $11,836 |
| 1/31/21 | $12,174 | $12,170 | $11,710 |
| 2/28/21 | $12,322 | $12,316 | $11,973 |
| 3/31/21 | $12,620 | $12,608 | $12,248 |
| 4/30/21 | $12,931 | $12,917 | $12,617 |
| 5/31/21 | $13,371 | $13,356 | $13,069 |
| 6/30/21 | $13,200 | $13,195 | $12,881 |
| 7/31/21 | $13,331 | $13,326 | $12,978 |
| 8/31/21 | $13,672 | $13,669 | $13,207 |
| 9/30/21 | $13,262 | $13,252 | $12,824 |
| 10/31/21 | $13,619 | $13,610 | $13,139 |
| 11/30/21 | $12,987 | $12,978 | $12,528 |
| 12/31/21 | $13,689 | $13,681 | $13,169 |
| 1/31/22 | $12,913 | $12,907 | $12,533 |
| 2/28/22 | $12,567 | $12,566 | $12,311 |
| 3/31/22 | $12,654 | $12,648 | $12,391 |
| 4/30/22 | $11,856 | $11,846 | $11,589 |
| 5/31/22 | $11,849 | $11,831 | $11,676 |
| 6/30/22 | $10,797 | $10,781 | $10,592 |
| 7/31/22 | $11,372 | $11,356 | $11,120 |
| 8/31/22 | $10,743 | $10,731 | $10,592 |
| 9/30/22 | $9,683 | $9,668 | $9,601 |
| 10/31/22 | $10,210 | $10,194 | $10,118 |
| 11/30/22 | $11,376 | $11,358 | $11,257 |
| 12/31/22 | $11,371 | $11,356 | $11,266 |
| 1/31/23 | $12,332 | $12,316 | $12,178 |
| 2/28/23 | $12,078 | $12,063 | $11,924 |
| 3/31/23 | $12,409 | $12,388 | $12,220 |
| 4/30/23 | $12,824 | $12,803 | $12,565 |
| 5/31/23 | $12,310 | $12,285 | $12,033 |
| 6/30/23 | $12,813 | $12,784 | $12,581 |
| 7/31/23 | $13,184 | $13,155 | $12,988 |
| 8/31/23 | $12,657 | $12,629 | $12,490 |
| 9/30/23 | $12,183 | $12,156 | $12,064 |
| 10/31/23 | $11,713 | $11,686 | $11,575 |
| 11/30/23 | $12,814 | $12,787 | $12,649 |
| 12/31/23 | $13,521 | $13,494 | $13,321 |
| 1/31/24 | $13,642 | $13,614 | $13,398 |
| 2/29/24 | $13,839 | $13,812 | $13,643 |
| 3/31/24 | $14,219 | $14,187 | $14,076 |
| 4/30/24 | $13,952 | $13,917 | $13,731 |
| 5/31/24 | $14,527 | $14,493 | $14,262 |
| 6/30/24 | $14,439 | $14,407 | $14,032 |
| 7/31/24 | $14,752 | $14,719 | $14,444 |
| 8/31/24 | $15,230 | $15,199 | $14,914 |
Yearly periods ended August 31
| Fund/Index | 1-Year | 5-Year | Since Inception 9/6/18 |
|---|
| Xtrackers MSCI EAFE ESG Leaders Equity ETF - NAV | 20.32% | 8.97% | 7.28% |
| Xtrackers MSCI EAFE ESG Leaders Equity ETF - Market | 20.38% | 9.00% | 7.33% |
| MSCI EAFE ESG Leaders Index | 20.35% | 8.94% | 7.24% |
| MSCI EAFE Index | 19.40% | 8.61% | 6.90% |
Average Annual Total Returns
Performance shown is historical. The Fund's past performance is not a good predictor or guarantee of the Fund's future performance. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. The performance graph and returns table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares. Shares are bought and sold at market price (closing price) not net asset value (NAV) and are not individually redeemed from the Fund. Market Price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined) and do not represent the return you would receiveif you traded at other times. To obtain the most recent month-end performance data visit etf.dws.com/en-us/etf-products or call (844) 851-4255.
| Net Assets ($) | 53,907,124 |
| Number of Portfolio Holdings | 364 |
| Portfolio Turnover Rate (%) | 12 |
| Total Net Advisory Fees Paid ($) | 66,109 |
What did the Fund invest in?
Holding based data is subject to change.
Ten Largest Equity Holdings
| Holding | 24.9% of Net Assets |
|---|
| Novo Nordisk A/S (Denmark) | 5.0% |
| ASML Holding NV (Netherlands) | 4.0% |
| AstraZeneca PLC (United Kingdom) | 3.0% |
| Novartis AG (Switzerland) | 2.6% |
| LVMH Moet Hennessy Louis Vuitton SE (France) | 2.3% |
| HSBC Holdings PLC (United Kingdom) | 1.8% |
| Unilever PLC (United Kingdom) | 1.8% |
| TotalEnergies SE (France) | 1.6% |
| Schneider Electric SE (France) | 1.5% |
| Sony Group Corp. (Japan) | 1.3% |
| Sector | % of Net Assets |
|---|
| Financials | 20% |
| Industrials | 17% |
| Health Care | 16% |
| Consumer Discretionary | 11% |
| Consumer Staples | 9% |
| Information Technology | 9% |
| Materials | 6% |
| Communication Services | 4% |
| Energy | 3% |
| Utilities | 3% |
| Real Estate | 2% |
Geographic Diversification
| Country | % of Net Assets |
|---|
| Japan | 25% |
| United Kingdom | 14% |
| France | 11% |
| Switzerland | 10% |
| Netherlands | 7% |
| Denmark | 7% |
| Australia | 6% |
| Germany | 5% |
| Sweden | 4% |
| Italy | 2% |
| Spain | 2% |
| Finland | 2% |
| Other | 5% |
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, and financial statements and other information, please visit dws.com/etfreports. For information about the Fund's proxy voting policies and procedures and how the Fund voted proxies related to its portfolio securities, please visit dws.com/en-us/resources/proxy-voting. This additional information is also available free of charge by contacting us at (844) 851-4255.
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
Investing involves risk, including the possible loss of principal. Incorporation of ESG criteria in the Fund’s investment strategy does not guarantee a return or protect against a loss, limits the types and number of investment opportunities available to the Fund and, as a result, the Fund may under perform 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. Performance of the Fund 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 this 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.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's investment objectives, risk factors, and charges and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (844) 851‑4255, or visit dws.com/etfreports to view or download a prospectus. Please read the prospectus carefully before you invest.
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.
© 2024 DWS Group. All rights reserved. Xtrackers™ is a trademark of DWS Investment GmbH. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
EASG-TSRA
R-102658-1 (10/24) DBX006195 (10/25)
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF
Annual Shareholder Report — August 31, 2024
What were the Fund costs for the last year?
(Based on a hypothetical $10,000 investment)
| Fund | Cost of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|
| EMSG | $21 | 0.20% |
Gross expense ratio as of the latest prospectus: 0.20%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
This annual shareholder report contains important information about the Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF ("the Fund") for the period September 1, 2023 to August 31, 2024. You can find additional information about the Fund at dws.com/etfreports. You can also request this information by contacting us at (844) 851‐4255.
How did the fund perform last year and what affected its performance?
The Fund seeks investment results that correspond generally to the performance, before fees and expenses, of the Fund's underlying index, the MSCI Emerging Markets ESG Leaders 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, as defined by the index provider.
The Fund returned 14.74% for the period ended August 31, 2024. The Fund's underlying index returned 15.86% and the Fund's broad-based index the MSCI Emerging Markets Index returned 15.07% during the same period.
Most sectors contributed positively to performance during the period with the greatest contribution coming from Information Technology, Financials and Communication Services. The Materials, Consumer Discretionary and Health Care sectors were negative contributors to performance. From a geographical perspective, the majority of countries contributed positively to performance during the period with the greatest contribution coming from Taiwan, India and South Africa while Hong Kong, United States and Mexico contributed negatively to performance.
MSCI Emerging Markets ESG Leaders Index is a capitalization weighted index that provides exposure to companies with high environmental, social and governance (“ESG”) performance relative to their sector peers and consists of large- and medium-capitalization companies across emerging markets countries, as defined by the index provider.
MSCI Emerging Markets Index captures large and mid-cap representation across Emerging Markets countries. The index covers approximately 85% of the free float-adjusted market capitalization in each country.
The MSCI Emerging Markets Index is a broad-based index that represents the Fund’s overall equity market.
Index returns do not reflect any fees or expenses and it is not possible to invest directly into an index.
Cumulative Growth of an Assumed $10,000 Investment
| Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF - NAV | MSCI Emerging Markets ESG Leaders Index (the Underlying Index) | MSCI Emerging Markets Index |
|---|
| 12/6/18 | $10,000 | $10,000 | $10,000 |
| 12/31/18 | $9,543 | $9,551 | $9,546 |
| 1/31/19 | $10,391 | $10,399 | $10,383 |
| 2/28/19 | $10,386 | $10,393 | $10,406 |
| 3/31/19 | $10,487 | $10,503 | $10,494 |
| 4/30/19 | $10,756 | $10,778 | $10,715 |
| 5/31/19 | $9,945 | $9,978 | $9,937 |
| 6/30/19 | $10,501 | $10,543 | $10,557 |
| 7/31/19 | $10,452 | $10,500 | $10,428 |
| 8/31/19 | $9,983 | $10,027 | $9,920 |
| 9/30/19 | $10,070 | $10,116 | $10,109 |
| 10/31/19 | $10,522 | $10,575 | $10,535 |
| 11/30/19 | $10,608 | $10,669 | $10,521 |
| 12/31/19 | $11,367 | $11,438 | $11,306 |
| 1/31/20 | $10,827 | $10,903 | $10,779 |
| 2/29/20 | $10,343 | $10,404 | $10,210 |
| 3/31/20 | $8,797 | $8,847 | $8,638 |
| 4/30/20 | $9,664 | $9,721 | $9,429 |
| 5/31/20 | $9,726 | $9,779 | $9,501 |
| 6/30/20 | $10,546 | $10,607 | $10,200 |
| 7/31/20 | $11,695 | $11,769 | $11,111 |
| 8/31/20 | $12,009 | $12,087 | $11,357 |
| 9/30/20 | $11,851 | $11,929 | $11,174 |
| 10/31/20 | $12,296 | $12,383 | $11,405 |
| 11/30/20 | $12,999 | $13,090 | $12,459 |
| 12/31/20 | $13,629 | $13,735 | $13,375 |
| 1/31/21 | $14,457 | $14,563 | $13,785 |
| 2/28/21 | $14,386 | $14,503 | $13,891 |
| 3/31/21 | $14,195 | $14,308 | $13,681 |
| 4/30/21 | $14,586 | $14,701 | $14,022 |
| 5/31/21 | $14,576 | $14,696 | $14,183 |
| 6/30/21 | $14,889 | $15,023 | $14,372 |
| 7/31/21 | $13,847 | $13,968 | $13,404 |
| 8/31/21 | $14,230 | $14,352 | $13,755 |
| 9/30/21 | $13,586 | $13,721 | $13,209 |
| 10/31/21 | $13,827 | $13,961 | $13,339 |
| 11/30/21 | $13,152 | $13,274 | $12,795 |
| 12/31/21 | $13,321 | $13,452 | $13,035 |
| 1/31/22 | $13,180 | $13,304 | $12,789 |
| 2/28/22 | $12,508 | $12,715 | $12,406 |
| 3/31/22 | $12,353 | $12,483 | $12,126 |
| 4/30/22 | $11,523 | $11,649 | $11,452 |
| 5/31/22 | $11,558 | $11,669 | $11,502 |
| 6/30/22 | $10,764 | $10,862 | $10,738 |
| 7/31/22 | $10,607 | $10,716 | $10,711 |
| 8/31/22 | $10,595 | $10,723 | $10,756 |
| 9/30/22 | $9,263 | $9,365 | $9,495 |
| 10/31/22 | $8,871 | $8,975 | $9,200 |
| 11/30/22 | $10,359 | $10,492 | $10,565 |
| 12/31/22 | $10,260 | $10,385 | $10,416 |
| 1/31/23 | $11,198 | $11,323 | $11,239 |
| 2/28/23 | $10,413 | $10,532 | $10,510 |
| 3/31/23 | $10,777 | $10,900 | $10,829 |
| 4/30/23 | $10,481 | $10,601 | $10,706 |
| 5/31/23 | $10,273 | $10,407 | $10,526 |
| 6/30/23 | $10,652 | $10,795 | $10,926 |
| 7/31/23 | $11,283 | $11,439 | $11,606 |
| 8/31/23 | $10,539 | $10,692 | $10,891 |
| 9/30/23 | $10,194 | $10,345 | $10,606 |
| 10/31/23 | $9,814 | $9,957 | $10,194 |
| 11/30/23 | $10,530 | $10,695 | $11,010 |
| 12/31/23 | $10,838 | $11,025 | $11,440 |
| 1/31/24 | $10,374 | $10,559 | $10,909 |
| 2/29/24 | $10,804 | $11,005 | $11,428 |
| 3/31/24 | $11,043 | $11,249 | $11,679 |
| 4/30/24 | $11,140 | $11,356 | $11,764 |
| 5/31/24 | $11,257 | $11,483 | $11,830 |
| 6/30/24 | $11,752 | $12,005 | $12,297 |
| 7/31/24 | $11,767 | $12,027 | $12,333 |
| 8/31/24 | $12,093 | $12,387 | $12,532 |
Yearly periods ended August 31
| Fund/Index | 1-Year | 5-Year | Since Inception 12/6/18 |
|---|
| Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF - NAV | 14.74% | 3.91% | 3.37% |
| Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF - Market | 14.48% | 3.81% | 3.26% |
| MSCI Emerging Markets ESG Leaders Index | 15.86% | 4.32% | 3.80% |
| MSCI Emerging Markets Index | 15.07% | 4.79% | 4.01% |
Average Annual Total Returns
Performance shown is historical. The Fund's past performance is not a good predictor or guarantee of the Fund's future performance. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. The performance graph and returns table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares. Shares are bought and sold at market price (closing price) not net asset value (NAV) and are not individually redeemed from the Fund. Market Price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined) and do not represent the return you would receiveif you traded at other times. To obtain the most recent month-end performance data visit etf.dws.com/en-us/etf-products or call (844) 851-4255.
| Net Assets ($) | 28,016,141 |
| Number of Portfolio Holdings | 491 |
| Portfolio Turnover Rate (%) | 14 |
| Total Net Advisory Fees Paid ($) | 51,088 |
What did the Fund invest in?
Holding based data is subject to change.
Ten Largest Equity Holdings
| Holding | 39.9% of Net Assets |
|---|
| Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) | 17.1% |
| Tencent Holdings Ltd. (China) | 7.6% |
| Alibaba Group Holding Ltd. (China) | 3.8% |
| Reliance Industries Ltd. (India) | 2.6% |
| HDFC Bank Ltd. (India) | 2.0% |
| Infosys Ltd. (India) | 1.8% |
| China Construction Bank Corp. (China) | 1.6% |
| MediaTek, Inc. (Taiwan) | 1.4% |
| Bharti Airtel Ltd. (India) | 1.1% |
| Industrial & Commercial Bank of China Ltd. (China) | 0.9% |
| Sector | % of Net Assets |
|---|
| Information Technology | 23% |
| Financials | 22% |
| Communication Services | 15% |
| Consumer Discretionary | 12% |
| Industrials | 6% |
| Materials | 5% |
| Consumer Staples | 5% |
| Energy | 4% |
| Utilities | 3% |
| Health Care | 3% |
| Real Estate | 2% |
Geographic Diversification
| Country | % of Net Assets |
|---|
| Taiwan | 25% |
| China | 25% |
| India | 18% |
| South Korea | 6% |
| South Africa | 5% |
| Brazil | 3% |
| Mexico | 3% |
| Saudi Arabia | 2% |
| Malaysia | 2% |
| Thailand | 2% |
| United Arab Emirates | 2% |
| Other | 7% |
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, and financial statements and other information, please visit dws.com/etfreports. For information about the Fund's proxy voting policies and procedures and how the Fund voted proxies related to its portfolio securities, please visit dws.com/en-us/resources/proxy-voting. This additional information is also available free of charge by contacting us at (844) 851-4255.
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
Investing involves risk, including possible loss of principal. Incorporation of ESG criteria in the Fund's investment strategy does not guarantee a return or protect against a 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. Funds investing in a single industry, country or in a limited geographic region generally are more volatile than more diversified funds. This Fund is non-diversified and can take larger positions in fewer issues, increasing its potential risk. Performance of a fund may diverge from that of an 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 applicable prospectus for more information.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's investment objectives, risk factors, and charges and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (844) 851‑4255, or visit dws.com/etfreports to view or download a prospectus. Please read the prospectus carefully before you invest.
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.
© 2024 DWS Group. All rights reserved. Xtrackers™ is a trademark of DWS Investment GmbH. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
EMSG-TSRA
R-102659-1 (10/24) DBX006196 (10/25)
Xtrackers MSCI USA Climate Action Equity ETF
Annual Shareholder Report — August 31, 2024
What were the Fund costs for the last year?
(Based on a hypothetical $10,000 investment)
| Fund | Cost of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|
| USCA | $8 | 0.07% |
Gross expense ratio as of the latest prospectus: 0.07%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
This annual shareholder report contains important information about the Xtrackers MSCI USA Climate Action Equity ETF ("the Fund") for the period September 1, 2023 to August 31, 2024. You can find additional information about the Fund at dws.com/etfreports. You can also request this information by contacting us at (844) 851‐4255.
How did the fund perform last year and what affected its performance?
The Fund seeks investment results that correspond generally to the performance, before fees and expenses, of the Fund's underlying index, the MSCI USA Climate Action Index which is comprised of large and mid-capitalization companies in the United States that the Underlying Index’s methodology assesses as leading their sector peers in taking action relating to a climate transition.
The Fund returned 27.85% for the period ended August 31, 2024. The Fund's underlying index returned 27.89% and the Fund's broad-based index the MSCI USA Index returned 27.10% during the same period.
All sectors contributed positively to performance during the period with the greatest contribution coming from Information Technology, Financials and Communication Services.
MSCI USA Climate Action Index is comprised of large and mid-capitalization companies in the United States that the Underlying Index’s methodology assesses as leading their sector peers in taking action relating to a climate transition.
MSCI USA Index is designed to measure the performance of the large and mid cap segments of the US market. The index covers approximately 85% of the free float-adjusted market capitalization in the US.
The MSCI USA Index is a broad-based index that represents the Fund’s overall equity market.
Index returns do not reflect any fees or expenses and it is not possible to invest directly into an index.
Cumulative Growth of an Assumed $10,000 Investment
| Xtrackers MSCI USA Climate Action Equity ETF - NAV | MSCI USA Climate Action Index (the Underlying Index) | MSCI USA Index |
|---|
| 4/4/23 | $10,000 | $10,000 | $10,000 |
| 4/30/23 | $10,109 | $10,109 | $10,095 |
| 5/31/23 | $10,319 | $10,320 | $10,161 |
| 6/30/23 | $10,983 | $10,985 | $10,838 |
| 7/31/23 | $11,409 | $11,412 | $11,211 |
| 8/31/23 | $11,256 | $11,260 | $11,022 |
| 9/30/23 | $10,737 | $10,741 | $10,505 |
| 10/31/23 | $10,452 | $10,456 | $10,264 |
| 11/30/23 | $11,437 | $11,437 | $11,231 |
| 12/31/23 | $11,949 | $11,950 | $11,761 |
| 1/31/24 | $12,202 | $12,204 | $11,944 |
| 2/29/24 | $12,919 | $12,922 | $12,585 |
| 3/31/24 | $13,308 | $13,312 | $12,985 |
| 4/30/24 | $12,793 | $12,798 | $12,449 |
| 5/31/24 | $13,392 | $13,398 | $13,044 |
| 6/30/24 | $13,919 | $13,926 | $13,510 |
| 7/31/24 | $14,048 | $14,056 | $13,680 |
| 8/31/24 | $14,391 | $14,400 | $14,009 |
| Fund/Index | 1-Year | Since Inception 4/4/23 |
|---|
| Xtrackers MSCI USA Climate Action Equity ETF - NAV | 27.85% | 29.43% |
| Xtrackers MSCI USA Climate Action Equity ETF - Market | 27.81% | 29.36% |
| MSCI USA Climate Action Index | 27.89% | 29.43% |
| MSCI USA Index | 27.10% | 26.93% |
Average Annual Total Returns
Performance shown is historical. The Fund's past performance is not a good predictor or guarantee of the Fund's future performance. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. The performance graph and returns table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares. Shares are bought and sold at market price (closing price) not net asset value (NAV) and are not individually redeemed from the Fund. Market Price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined) and do not represent the return you would receiveif you traded at other times. To obtain the most recent month-end performance data visit etf.dws.com/en-us/etf-products or call (844) 851-4255.
| Net Assets ($) | 2,212,449,353 |
| Number of Portfolio Holdings | 297 |
| Portfolio Turnover Rate (%) | 20 |
| Total Net Advisory Fees Paid ($) | 1,467,094 |
What did the Fund invest in?
Holding based data is subject to change.
Ten Largest Equity Holdings
| Holding | 36.2% of Net Assets |
|---|
| NVIDIA Corp. | 5.8% |
| Apple, Inc. | 5.6% |
| Amazon.com, Inc. | 4.6% |
| Microsoft Corp. | 4.6% |
| Alphabet, Inc. | 4.3% |
| Meta Platforms, Inc. | 3.3% |
| Eli Lilly & Co. | 2.2% |
| Broadcom, Inc. | 2.1% |
| JPMorgan Chase & Co. | 1.9% |
| Tesla, Inc. | 1.8% |
| Sector | % of Net Assets |
|---|
| Information Technology | 28% |
| Health Care | 13% |
| Financials | 13% |
| Communication Services | 11% |
| Consumer Discretionary | 11% |
| Industrials | 7% |
| Consumer Staples | 6% |
| Energy | 4% |
| Materials | 3% |
| Real Estate | 2% |
| Utilities | 2% |
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, and financial statements and other information, please visit dws.com/etfreports. For information about the Fund's proxy voting policies and procedures and how the Fund voted proxies related to its portfolio securities, please visit dws.com/en-us/resources/proxy-voting. This additional information is also available free of charge by contacting us at (844) 851-4255.
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
Investing involves risk, including the possible loss of principal. Stocks may decline in value. Incorporation of ESG criteria in the Fund’s investment strategy does not guarantee a return or protect against a 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. The Underlying Index’s methodology for identifying companies attempting to reduce their carbon footprint 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 follow a carbon reduction strategy. 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. Performance of the Fund may diverge from that of the Underlying Index due to operating expenses, transaction costs, cash flows, use of sampling strategies or operational inefficiencies. This Fund is non-diversified and can take larger positions in fewer issues, increasing its potential risk. An investment in this 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.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's investment objectives, risk factors, and charges and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (844) 851‑4255, or visit dws.com/etfreports to view or download a prospectus. Please read the prospectus carefully before you invest.
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.
© 2024 DWS Group. All rights reserved. Xtrackers™ is a trademark of DWS Investment GmbH. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
USCA-TSRA
R-102662-1 (10/24) DBX006199 (10/25)
Xtrackers MSCI USA ESG Leaders Equity ETF
Annual Shareholder Report — August 31, 2024
What were the Fund costs for the last year?
(Based on a hypothetical $10,000 investment)
| Fund | Cost of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|
| USSG | $10 | 0.09% |
Gross expense ratio as of the latest prospectus: 0.09%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
This annual shareholder report contains important information about the Xtrackers MSCI USA ESG Leaders Equity ETF ("the Fund") for the period September 1, 2023 to August 31, 2024. You can find additional information about the Fund at dws.com/etfreports. You can also request this information by contacting us at (844) 851‐4255.
This report describes changes to the Fund that occurred during the reporting period.
How did the fund perform last year and what affected its performance?
The Fund seeks investment results that correspond generally to the performance, before fees and expenses, of the Fund's underlying index, the MSCI USA ESG Leaders 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 Fund returned 26.52% for the period ended August 31, 2024. The Fund's underlying index returned 26.63% and the Fund's broad-based index the MSCI USA Index returned 27.10% during the same period.
All sectors contributed positively to performance during the period with the greatest contribution coming from Information Technology, Financials and Health Care.
MSCI USA ESG Leaders Index is a capitalization weighted index that provides exposure to companies with high environmental, social and governance (“ESG”) performance relative to their sector peers and consists of large- and medium-capitalization companies in the U.S. market.
MSCI USA Index is designed to measure the performance of the large and mid cap segments of the US market. The index covers approximately 85% of the free float-adjusted market capitalization in the US.
The MSCI USA Index is a broad-based index that represents the Fund’s overall equity market.
Index returns do not reflect any fees or expenses and it is not possible to invest directly into an index.
Cumulative Growth of an Assumed $10,000 Investment
| Xtrackers MSCI USA ESG Leaders Equity ETF - NAV | MSCI USA ESG Leaders Index (the Underlying Index) | MSCI USA Index |
|---|
| 3/7/19 | $10,000 | $10,000 | $10,000 |
| 3/31/19 | $10,228 | $10,229 | $10,319 |
| 4/30/19 | $10,608 | $10,610 | $10,733 |
| 5/31/19 | $9,984 | $9,986 | $10,054 |
| 6/30/19 | $10,634 | $10,638 | $10,761 |
| 7/31/19 | $10,834 | $10,839 | $10,927 |
| 8/31/19 | $10,722 | $10,728 | $10,737 |
| 9/30/19 | $10,908 | $10,914 | $10,928 |
| 10/31/19 | $11,109 | $11,116 | $11,166 |
| 11/30/19 | $11,514 | $11,522 | $11,585 |
| 12/31/19 | $11,847 | $11,856 | $11,925 |
| 1/31/20 | $11,947 | $11,957 | $11,948 |
| 2/29/20 | $11,042 | $11,052 | $10,974 |
| 3/31/20 | $9,662 | $9,671 | $9,582 |
| 4/30/20 | $10,863 | $10,874 | $10,843 |
| 5/31/20 | $11,436 | $11,450 | $11,407 |
| 6/30/20 | $11,626 | $11,641 | $11,667 |
| 7/31/20 | $12,105 | $12,121 | $12,360 |
| 8/31/20 | $13,019 | $13,037 | $13,287 |
| 9/30/20 | $12,569 | $12,587 | $12,792 |
| 10/31/20 | $12,220 | $12,239 | $12,459 |
| 11/30/20 | $13,559 | $13,581 | $13,900 |
| 12/31/20 | $14,067 | $14,091 | $14,474 |
| 1/31/21 | $13,950 | $13,976 | $14,339 |
| 2/28/21 | $14,392 | $14,416 | $14,714 |
| 3/31/21 | $15,048 | $15,074 | $15,267 |
| 4/30/21 | $15,831 | $15,859 | $16,098 |
| 5/31/21 | $15,958 | $15,988 | $16,176 |
| 6/30/21 | $16,378 | $16,412 | $16,626 |
| 7/31/21 | $16,860 | $16,895 | $17,019 |
| 8/31/21 | $17,378 | $17,416 | $17,521 |
| 9/30/21 | $16,524 | $16,560 | $16,694 |
| 10/31/21 | $18,072 | $18,114 | $17,859 |
| 11/30/21 | $17,768 | $17,811 | $17,679 |
| 12/31/21 | $18,517 | $18,562 | $18,377 |
| 1/31/22 | $17,372 | $17,415 | $17,337 |
| 2/28/22 | $16,792 | $16,835 | $16,829 |
| 3/31/22 | $17,424 | $17,470 | $17,421 |
| 4/30/22 | $15,922 | $15,965 | $15,841 |
| 5/31/22 | $15,814 | $15,857 | $15,807 |
| 6/30/22 | $14,642 | $14,683 | $14,498 |
| 7/31/22 | $15,852 | $15,898 | $15,851 |
| 8/31/22 | $15,069 | $15,114 | $15,230 |
| 9/30/22 | $13,718 | $13,759 | $13,817 |
| 10/31/22 | $14,719 | $14,763 | $14,914 |
| 11/30/22 | $15,704 | $15,753 | $15,726 |
| 12/31/22 | $14,764 | $14,811 | $14,801 |
| 1/31/23 | $15,724 | $15,774 | $15,775 |
| 2/28/23 | $15,349 | $15,400 | $15,398 |
| 3/31/23 | $15,969 | $16,023 | $15,945 |
| 4/30/23 | $16,129 | $16,184 | $16,147 |
| 5/31/23 | $16,287 | $16,344 | $16,253 |
| 6/30/23 | $17,366 | $17,430 | $17,336 |
| 7/31/23 | $17,966 | $18,033 | $17,933 |
| 8/31/23 | $17,883 | $17,953 | $17,631 |
| 9/30/23 | $16,983 | $17,050 | $16,672 |
| 10/31/23 | $16,557 | $16,624 | $16,288 |
| 11/30/23 | $18,252 | $18,329 | $17,824 |
| 12/31/23 | $19,045 | $19,126 | $18,664 |
| 1/31/24 | $19,472 | $19,555 | $18,955 |
| 2/29/24 | $20,558 | $20,648 | $19,972 |
| 3/31/24 | $21,312 | $21,407 | $20,607 |
| 4/30/24 | $20,341 | $20,433 | $19,756 |
| 5/31/24 | $21,326 | $21,423 | $20,700 |
| 6/30/24 | $22,107 | $22,211 | $21,440 |
| 7/31/24 | $22,182 | $22,287 | $21,709 |
| 8/31/24 | $22,625 | $22,734 | $22,233 |
Yearly periods ended August 31
| Fund/Index | 1-Year | 5-Year | Since Inception 3/7/19 |
|---|
| Xtrackers MSCI USA ESG Leaders Equity ETF - NAV | 26.52% | 16.11% | 16.04% |
| Xtrackers MSCI USA ESG Leaders Equity ETF - Market | 26.50% | 16.12% | 16.02% |
| MSCI USA ESG Leaders Index | 26.63% | 16.21% | 16.13% |
| MSCI USA Index | 27.10% | 15.85% | 15.66% |
Average Annual Total Returns
Performance shown is historical. The Fund's past performance is not a good predictor or guarantee of the Fund's future performance. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. The performance graph and returns table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares. Shares are bought and sold at market price (closing price) not net asset value (NAV) and are not individually redeemed from the Fund. Market Price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined) and do not represent the return you would receiveif you traded at other times. To obtain the most recent month-end performance data visit etf.dws.com/en-us/etf-products or call (844) 851-4255.
| Net Assets ($) | 1,044,668,032 |
| Number of Portfolio Holdings | 296 |
| Portfolio Turnover Rate (%) | 7 |
| Total Net Advisory Fees Paid ($) | 976,881 |
What did the Fund invest in?
Holding based data is subject to change.
Ten Largest Equity Holdings
| Holding | 42.4% of Net Assets |
|---|
| Microsoft Corp. | 11.3% |
| NVIDIA Corp. | 11.2% |
| Alphabet, Inc. | 6.9% |
| Eli Lilly & Co. | 3.0% |
| Tesla, Inc. | 2.4% |
| Visa, Inc. | 1.7% |
| Procter & Gamble Co. | 1.5% |
| Mastercard, Inc. | 1.5% |
| Johnson & Johnson | 1.5% |
| Home Depot, Inc. | 1.4% |
| Sector | % of Net Assets |
|---|
| Information Technology | 34% |
| Financials | 12% |
| Health Care | 12% |
| Consumer Discretionary | 10% |
| Communication Services | 9% |
| Industrials | 9% |
| Consumer Staples | 6% |
| Materials | 3% |
| Real Estate | 2% |
| Energy | 2% |
| Utilities | 1% |
This is a summary of certain changes of the Fund since September 1, 2023. For more information, review the Fund's current prospectus at dws.com/etfreports, or by calling (844) 851-4255.
Effective August 13, 2024, the Fund’s unitary advisory fee was reduced from 0.10% to 0.09%. At the same time, the Fund's advisor terminated the voluntary fee waiver that capped the fund’s operating expenses at the same level because of the redundancy.
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, and financial statements and other information, please visit dws.com/etfreports. For information about the Fund's proxy voting policies and procedures and how the Fund voted proxies related to its portfolio securities, please visit dws.com/en-us/resources/proxy-voting. This additional information is also available free of charge by contacting us at (844) 851-4255.
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
Investing involves risk, including the possible loss of principal. Incorporation of ESG criteria in the Fund’s investment strategy does not guarantee a return or protect against a 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. Performance of the Fund 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 this 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.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's investment objectives, risk factors, and charges and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (844) 851‑4255, or visit dws.com/etfreports to view or download a prospectus. Please read the prospectus carefully before you invest.
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.
© 2024 DWS Group. All rights reserved. Xtrackers™ is a trademark of DWS Investment GmbH. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
USSG-TSRA
R-102660-1 (10/24) DBX006197 (10/25)
Xtrackers Net Zero Pathway Paris Aligned US Equity ETF
Annual Shareholder Report — August 31, 2024
What were the Fund costs for the last year?
(Based on a hypothetical $10,000 investment)
| Fund | Cost of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|
| USNZ | $11 | 0.10% |
Gross expense ratio as of the latest prospectus: 0.10%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
This annual shareholder report contains important information about the Xtrackers Net Zero Pathway Paris Aligned US Equity ETF ("the Fund") for the period September 1, 2023 to August 31, 2024. You can find additional information about the Fund at dws.com/etfreports. You can also request this information by contacting us at (844) 851‐4255.
How did the fund perform last year and what affected its performance?
The Fund seeks investment results that correspond generally to the performance, before fees and expenses, of the Fund's underlying index, the Solactive ISS ESG United States Net Zero Pathway Enhanced Index, which is comprised of large and mid-capitalization companies in the United States that meet certain environmental, social and governance (“ ESG “) criteria. The constituents of the Underlying Index are weighted in such a manner seeking to comply with the European Union Paris-aligned Benchmark standards, while incorporating recommendations of the Net Zero Investment Framework published, from time to time, by the Institutional Investors Group on Climate Change.
The Fund returned 27.94% for the period ended August 31, 2024. The Fund's underlying index returned 28.05% and the Fund's broad-based index the S&P 500® Index returned 27.14% during the same period.
All sectors contributed positively to performance during the period with the greatest contribution coming from Information Technology, Financials and Health Care.
Solactive ISS ESG United States Net Zero Pathway Enhanced Index is comprised of large and mid-capitalization companies in the United States that meet certain environmental, social and governance (“ESG“) criteria. The constituents of the Underlying Index are weighted in such a manner seeking to comply with the European Union Paris-aligned Benchmark standards, while incorporating recommendations of the Net Zero Investment Framework published, from time to time, by the Institutional Investors Group on Climate Change.
S&P 500® Index is a capitalization weighted index of 500 stocks. The index is designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries.
The S&P 500®Indexis a broad-based index that represents the fund’s overall equity market.
Index returns do not reflect any fees or expenses and it is not possible to invest directly into an index.
Cumulative Growth of an Assumed $10,000 Investment
| Xtrackers Net Zero Pathway Paris Aligned US Equity ETF - NAV | Solactive ISS ESG United States Net Zero Pathway Enhanced Index (the Underlying Index) | S&P 500® Index |
|---|
| 6/28/22 | $10,000 | $10,000 | $10,000 |
| 6/30/22 | $9,687 | $9,685 | $9,709 |
| 7/31/22 | $10,553 | $10,552 | $10,604 |
| 8/31/22 | $10,085 | $10,084 | $10,171 |
| 9/30/22 | $9,117 | $9,116 | $9,235 |
| 10/31/22 | $9,824 | $9,824 | $9,982 |
| 11/30/22 | $10,442 | $10,444 | $10,540 |
| 12/31/22 | $9,853 | $9,854 | $9,933 |
| 1/31/23 | $10,519 | $10,522 | $10,557 |
| 2/28/23 | $10,299 | $10,303 | $10,299 |
| 3/31/23 | $10,745 | $10,751 | $10,677 |
| 4/30/23 | $10,917 | $10,924 | $10,844 |
| 5/31/23 | $10,998 | $11,006 | $10,891 |
| 6/30/23 | $11,670 | $11,679 | $11,611 |
| 7/31/23 | $12,015 | $12,026 | $11,984 |
| 8/31/23 | $11,758 | $11,769 | $11,793 |
| 9/30/23 | $11,139 | $11,151 | $11,231 |
| 10/31/23 | $10,872 | $10,884 | $10,995 |
| 11/30/23 | $11,989 | $12,000 | $11,999 |
| 12/31/23 | $12,598 | $12,611 | $12,544 |
| 1/31/24 | $12,880 | $12,895 | $12,755 |
| 2/29/24 | $13,498 | $13,516 | $13,436 |
| 3/31/24 | $13,894 | $13,914 | $13,868 |
| 4/30/24 | $13,239 | $13,258 | $13,301 |
| 5/31/24 | $13,953 | $13,975 | $13,961 |
| 6/30/24 | $14,520 | $14,545 | $14,462 |
| 7/31/24 | $14,655 | $14,681 | $14,638 |
| 8/31/24 | $15,042 | $15,070 | $14,993 |
| Fund/Index | 1-Year | Since Inception 6/28/22 |
|---|
| Xtrackers Net Zero Pathway Paris Aligned US Equity ETF - NAV | 27.94% | 20.62% |
| Xtrackers Net Zero Pathway Paris Aligned US Equity ETF - Market | 27.83% | 20.60% |
| Solactive ISS ESG United States Net Zero Pathway Enhanced Index | 28.05% | 20.69% |
S&P 500® Index | 27.14% | 20.41% |
Average Annual Total Returns
Performance shown is historical. The Fund's past performance is not a good predictor or guarantee of the Fund's future performance. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. The performance graph and returns table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares. Shares are bought and sold at market price (closing price) not net asset value (NAV) and are not individually redeemed from the Fund. Market Price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined) and do not represent the return you would receiveif you traded at other times. To obtain the most recent month-end performance data visit etf.dws.com/en-us/etf-products or call (844) 851-4255.
| Net Assets ($) | 221,677,360 |
| Number of Portfolio Holdings | 339 |
| Portfolio Turnover Rate (%) | 11 |
| Total Net Advisory Fees Paid ($) | 176,274 |
What did the Fund invest in?
Holding based data is subject to change.
Ten Largest Equity Holdings
| Holding | 37.4% of Net Assets |
|---|
| Apple, Inc. | 8.9% |
| Microsoft Corp. | 8.2% |
| NVIDIA Corp. | 6.5% |
| Alphabet, Inc. | 3.8% |
| Meta Platforms, Inc. | 3.0% |
| Eli Lilly & Co. | 1.8% |
| Broadcom, Inc. | 1.7% |
| JPMorgan Chase & Co. | 1.4% |
| UnitedHealth Group, Inc. | 1.1% |
| Johnson & Johnson | 1.0% |
| Sector | % of Net Assets |
|---|
| Information Technology | 37% |
| Health Care | 17% |
| Financials | 11% |
| Communication Services | 10% |
| Consumer Discretionary | 6% |
| Real Estate | 5% |
| Consumer Staples | 5% |
| Industrials | 5% |
| Materials | 2% |
| Utilities | 1% |
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, and financial statements and other information, please visit dws.com/etfreports. For information about the Fund's proxy voting policies and procedures and how the Fund voted proxies related to its portfolio securities, please visit dws.com/en-us/resources/proxy-voting. This additional information is also available free of charge by contacting us at (844) 851-4255.
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
Investing involves risk, including the possible loss of principal. Stocks may decline in value. Incorporation of ESG criteria in the Fund’s investment strategy does not guarantee a return or protect against a loss, limits the types and number of investment opportunities available to the Fund and, as a result, the Fund may under perform other funds that do not have an ESG focus. Regulatory changes or interpretations regarding the definitions and/or use of ESG criteria could have a material adverse effect on the Fund’s ability to invest in accordance with its investment policies and/or achieve its investment objective, as well as the ability of certain classes of investors to invest in funds following an ESG strategy such as the Fund. The Underlying Index’s methodology for identifying companies attempting to reduce their carbon footprint limits the types and number of investment opportunities available to the Fund and, as a result, the Fund may under perform other funds that do not follow a carbon reduction strategy. This Fund is non-diversified and can take larger portions in fewer issues, increasing its potential risk. An investment in this 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.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's investment objectives, risk factors, and charges and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (844) 851‑4255, or visit dws.com/etfreports to view or download a prospectus. Please read the prospectus carefully before you invest.
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.
© 2024 DWS Group. All rights reserved. Xtrackers™ is a trademark of DWS Investment GmbH. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
USNZ-TSRA
R-102661-1 (10/24) DBX006198 (10/25)
Xtrackers RREEF Global Natural Resources ETF
NRES : Nasdaq Stock Market
Annual Shareholder Report — August 31, 2024
What were the Fund costs for the reporting period?
(Based on a hypothetical $10,000 investment)
| Fund | Cost of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|
| NRES | $24Footnote Reference(a) | 0.45% |
(a) Based on the period February 27, 2024 (commencement of operations) through August 31, 2024. Expenses would have been higher if the Fund had been in existence for the full reporting period.
Gross expense ratio as of the latest prospectus: 0.45%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
This annual shareholder report contains important information about the Xtrackers RREEF Global Natural Resources ETF ("the Fund") for the period February 27, 2024 to August 31, 2024. You can find additional information about the Fund at dws.com/etfreports. You can also request this information by contacting us at (844) 851‐4255.
How did the fund perform last year and what affected its performance?
The Fund seeks total return from both capital appreciation and current income. The fund is an actively-managed exchange-traded fund (“ETF”) that does not seek to replicate the performance of a specific index. Under normal circumstances, the fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes (calculated at the time of any investment), in securities of companies in the natural resources sector.
The Fund returned 8.75% for the period ended August 31, 2024. The Fund's broad-based index, the MSCI World Index, returned 10.85% for the same period, while the Fund's additional, more narrowly based index, S&P Global Natural Resources Net TR index returned 7.94%.
Most sectors contributed positively to performance during the period with the greatest contribution coming from Materials, Energy and Consumer Staples. The Real Estate sector was the only negative contributor to performance. From a geographical perspective, the majority of countries contributed positively to performance during the period with the greatest contribution coming from Canada, United Kingdom and United States while Japan, South Africa and Korea contributed negatively to performance.
MSCI World Index captures large and mid-cap representation across Developed Markets countries. The index covers approximately 85% of the free float-adjusted market capitalization in each country.
The MSCI World Index is a broad-based index that represents the Fund’s overall equity market.
S&P Global Natural Resources Net TR Index includes 90 of the largest publicly-traded companies in natural resources and commodities businesses that meet specific investability requirements, offering investors diversified and investable equity exposure across 3 primary commodity-related sectors: agribusiness, energy, and metals & mining.
The S&P Global Natural Resources Net TR Index is a more narrowly-based index that reflects the market sector in which he Fund invests.
Index returns do not reflect any fees or expenses and it is not possible to invest directly into an index.
Cumulative Growth of an Assumed $10,000 Investment
| Xtrackers RREEF Global Natural Resources ETF - NAV | MSCI World Index | S&P Global Natural Resources Net TR index |
|---|
| 2/27/24 | $10,000 | $10,000 | $10,000 |
| 2/24 | $9,993 | $10,018 | $10,046 |
| 3/24 | $10,893 | $10,337 | $10,872 |
| 4/24 | $10,919 | $9,956 | $10,865 |
| 5/24 | $11,231 | $10,401 | $11,159 |
| 6/24 | $10,721 | $10,612 | $10,664 |
| 7/24 | $10,935 | $10,799 | $10,811 |
| 8/24 | $10,875 | $11,085 | $10,794 |
| Fund/Index | Since Inception 2/27/24 |
|---|
| Xtrackers RREEF Global Natural Resources ETF - NAV | 8.75% |
| Xtrackers RREEF Global Natural Resources ETF - Market | 9.26% |
| MSCI World Index | 10.85% |
| S&P Global Natural Resources Net TR index | 7.94% |
Average Annual Total Returns
Performance shown is historical. The Fund's past performance is not a good predictor or guarantee of the Fund's future performance. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. The performance graph and returns table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares. Shares are bought and sold at market price (closing price) not net asset value (NAV) and are not individually redeemed from the Fund. Market Price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined) and do not represent the return you would receiveif you traded at other times. To obtain the most recent month-end performance data visit etf.dws.com/en-us/etf-products or call (844) 851-4255.
| Net Assets ($) | 30,939,591 |
| Number of Portfolio Holdings | 65 |
| Portfolio Turnover Rate (%) | 49 |
| Total Net Advisory Fees Paid ($) | 25,964 |
What did the Fund invest in?
Holding based data is subject to change.
Ten Largest Equity Holdings
| Holding | 41.8% of Net Assets |
|---|
| Shell PLC (United Kingdom) | 7.2% |
| Exxon Mobil Corp. (United States) | 5.1% |
| Rio Tinto PLC (United Kingdom) | 4.4% |
| TotalEnergies SE (France) | 4.3% |
| Glencore PLC (Switzerland) | 3.9% |
| Nutrien Ltd. (Canada) | 3.8% |
| Corteva, Inc. (United States) | 3.8% |
| Cenovus Energy, Inc. (Canada) | 3.4% |
| Barrick Gold Corp. (Canada) | 3.0% |
| UPM-Kymmene OYJ (Finland) | 2.9% |
| Industry | % of Net Assets |
| Metals & Mining | 33.0% |
| Oil, Gas & Consumable Fuels | 31.7% |
| Containers & Packaging | 11.0% |
| Chemicals | 9.4% |
| Paper & Forest Products | 8.1% |
| Food Products | 4.4% |
| Energy Equipment & Services | 1.5% |
| Specialized REITs | 0.9% |
Geographic Diversification
| Country | % of Net Assets |
|---|
| United States | 32% |
| United Kingdom | 19% |
| Canada | 17% |
| Switzerland | 5% |
| Finland | 5% |
| Brazil | 5% |
| France | 4% |
| Ireland | 3% |
| Norway | 3% |
| South Africa | 2% |
| South Korea | 2% |
| Luxembourg | 2% |
| Other | 1% |
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, and financial statements and other information, please visit dws.com/etfreports. For information about the Fund's proxy voting policies and procedures and how the Fund voted proxies related to its portfolio securities, please visit dws.com/en-us/resources/proxy-voting. This additional information is also available free of charge by contacting us at (844) 851-4255.
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
Investing involves risk, including the possible loss of principal. Stocks may decline in value. There are special risks associated with natural resources investments, this means that the Fund is more vulnerable to the price movements that particularly affect one or more of the various industries and sub-industries within the natural resources sector. Funds investing in a single industry, country or in a limited geographic region generally are more volatile than more diversified funds. This Fund is non-diversified and can take larger positions in fewer issues, increasing its potential risk. An investment in this 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.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's investment objectives, risk factors, and charges and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (844) 851‑4255, or visit dws.com/etfreports to view or download a prospectus. Please read the prospectus carefully before you invest.
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.
© 2024 DWS Group. All rights reserved. Xtrackers™ is a trademark of DWS Investment GmbH. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
NRES-TSRA
R-102663-1 (10/24) DBX006200 (10/25)
Item 2. Code of Ethics.
| | (a) | The registrant, as of the end of the period covered by this report, has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party. |
| | (b) | There have been no amendments, during the period covered by this report, to a provision of the Code of Ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, and that relates to any element of the code of ethics description. |
| | (c) | The registrant has not granted any waivers, including an implicit waiver, from a provision of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, that relates to one or more of the items set forth in paragraph (b) of this item’s instructions. |
Item 3. Audit Committee Financial Expert.
Stephen R. Byers, George O. Elston, and J. David Officer are the designated financial experts on the Audit Committee of DBX ETF Trust. With respect to DBX ETF Trust, Stephen Byers, George O. Elston, and J. David Officer are not “interested persons” as such terms are defined by Section 2(a)(19) of the Act (15 U.S.C. 80a-2(a)(19)).
Item 4. Principal Accountant Fees and Services.
Audit Fees
| | (a) | The aggregate fees billed for each of the last two fiscal years for professional services rendered by the principal accountant for the audit of the registrant’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years are $517,481 for 2024 and $476,661 for 2023. |
Audit-Related Fees
| | (b) | The aggregate fees billed in each of the last two fiscal years for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of this Item are $0 for 2024 and $0 for 2023. |
Tax Fees
| | (c) | The aggregate fees billed in each of the last two fiscal years for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning are $434,432 for 2024 and $118,250 for 2023. |
All Other Fees
| | (d) | The aggregate fees billed in each of the last two fiscal years for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) of this Item are $0 for 2024 and $0 for 2023. |
| | (e)(1) | Disclose the audit committee’s pre-approval policies and procedures described in paragraph (c)(7) of Rule 2-01 of Regulation S-X. |
In accordance with Rule 2-01(c)(7)(A), the Audit Committee pre-approves all of the audit and permissible non-audit services of the Registrant.
| | (e)(2) | All of the services described in paragraphs (b) through (d) above were approved by the Audit Committee in accordance with paragraph (c) (7) (i) (c) of Rule 2-01 of Regulation S-X. |
| | (g) | The aggregate non-audit fees billed by the registrant’s accountant for services rendered to the registrant, and rendered to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for each of the last two fiscal years of the registrant was $0 for 2024 and $0 for 2023 except for items included in (a) through (d) above. |
| | (h) | The registrant’s audit committee of the board of trustees has considered whether the provision of non-audit services that were rendered to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence. |
Item 5. Audit Committee of Listed Registrants.
| | (a) | The Registrant is a listed issuer as defined in Rule 10A-3 under the Exchange Act and has a separately-designated standing audit committee established in accordance with Section 3(a)(58)(A) of the Exchange Act. The Registrant’s audit committee members are Stephen R. Byers, George O. Elston, and J. David Officer. |
Item 6. Investments.
| (a) | Schedule of Investments is included under Item 7. |
Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.
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)
Table of Contents
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.
DBX ETF Trust | 1
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
| | |
COMMON STOCKS — 98.9% | | | | | | | | |
| | |
Australia — 9.0% | | | | | | | | |
AGL Energy Ltd. | | | 10,148 | | | | 79,940 | |
ALS Ltd. | | | 2,917 | | | | 31,014 | |
Ampol Ltd. | | | 8,708 | | | | 170,929 | |
Ansell Ltd. | | | 2,020 | | | | 40,884 | |
ANZ Group Holdings Ltd. | | | 2,756 | | | | 56,846 | |
APA Group (a) | | | 2,479 | | | | 12,766 | |
Aristocrat Leisure Ltd. | | | 5,772 | | | | 214,261 | |
ASX Ltd. | | | 167 | | | | 6,937 | |
Atlas Arteria Ltd. (a) | | | 2,907 | | | | 10,059 | |
Aurizon Holdings Ltd. | | | 33,835 | | | | 77,595 | |
Beach Energy Ltd. | | | 20,794 | | | | 17,636 | |
Bendigo & Adelaide Bank Ltd. | | | 4,304 | | | | 35,189 | |
BHP Group Ltd. | | | 803 | | | | 22,213 | |
BlueScope Steel Ltd. | | | 13,752 | | | | 192,773 | |
Brambles Ltd. | | | 21,585 | | | | 266,986 | |
CAR Group Ltd. | | | 1,013 | | | | 26,022 | |
Challenger Ltd. | | | 866 | | | | 4,043 | |
Charter Hall Group REIT | | | 1,697 | | | | 16,684 | |
Cleanaway Waste Management Ltd. | | | 20,883 | | | | 40,807 | |
Cochlear Ltd. | | | 587 | | | | 119,631 | |
Coles Group Ltd. | | | 12,315 | | | | 157,004 | |
Commonwealth Bank of Australia | | | 123 | | | | 11,642 | |
Computershare Ltd. | | | 10,717 | | | | 206,728 | |
CSL Ltd. | | | 57 | | | | 11,879 | |
Deterra Royalties Ltd. | | | 18,154 | | | | 45,328 | |
Domino’s Pizza Enterprises Ltd. | | | 192 | | | | 3,911 | |
Downer EDI Ltd. | | | 13,168 | | | | 49,944 | |
EBOS Group Ltd. | | | 2,593 | | | | 56,781 | |
Endeavour Group Ltd. | | | 6,759 | | | | 24,489 | |
Evolution Mining Ltd. | | | 7,175 | | | | 20,641 | |
Fortescue Ltd. | | | 3,261 | | | | 40,424 | |
Goodman Group REIT | | | 7,063 | | | | 160,061 | |
GPT Group REIT | | | 340 | | | | 1,135 | |
Harvey Norman Holdings Ltd. | | | 18,886 | | | | 58,689 | |
IDP Education Ltd. | | | 215 | | | | 2,360 | |
Iluka Resources Ltd. | | | 690 | | | | 2,884 | |
Incitec Pivot Ltd. | | | 19,294 | | | | 39,666 | |
Insurance Australia Group Ltd. | | | 35,389 | | | | 181,286 | |
JB Hi-Fi Ltd. | | | 5,664 | | | | 305,790 | |
Lendlease Corp. Ltd. (a) | | | 2,386 | | | | 10,944 | |
Lottery Corp. Ltd. | | | 14,340 | | | | 48,551 | |
Macquarie Group Ltd. | | | 104 | | | | 15,217 | |
Magellan Financial Group Ltd. | | | 2,437 | | | | 15,758 | |
Medibank Pvt Ltd. | | | 84,190 | | | | 220,495 | |
Metcash Ltd. | | | 27,281 | | | | 66,266 | |
Mirvac Group REIT | | | 3,547 | | | | 4,910 | |
National Australia Bank Ltd. | | | 258 | | | | 6,682 | |
New Hope Corp. Ltd. | | | 5,667 | | | | 17,226 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
| | |
NEXTDC Ltd. * | | | 656 | | | | 7,544 | |
Northern Star Resources Ltd. | | | 3,424 | | | | 35,452 | |
Orica Ltd. | | | 6,097 | | | | 73,470 | |
Origin Energy Ltd. | | | 10,800 | | | | 72,985 | |
Orora Ltd. | | | 32,976 | | | | 55,936 | |
Perpetual Ltd. | | | 781 | | | | 10,413 | |
Pro Medicus Ltd. | | | 81 | | | | 8,282 | |
Qantas Airways Ltd. * | | | 6,572 | | | | 29,921 | |
QBE Insurance Group Ltd. | | | 11,056 | | | | 118,449 | |
Qube Holdings Ltd. | | | 21,504 | | | | 56,319 | |
Ramsay Health Care Ltd. | | | 645 | | | | 18,184 | |
REA Group Ltd. | | | 381 | | | | 56,613 | |
Reece Ltd. | | | 2,500 | | | | 46,375 | |
Rio Tinto Ltd. | | | 2,559 | | | | 193,682 | |
Santos Ltd. | | | 7,675 | | | | 37,598 | |
Scentre Group REIT | | | 7,146 | | | | 16,679 | |
SEEK Ltd. | | | 701 | | | | 10,963 | |
Seven Group Holdings Ltd. | | | 2,692 | | | | 75,034 | |
Sims Ltd. | | | 1,393 | | | | 10,378 | |
Sonic Healthcare Ltd. | | | 2,741 | | | | 51,478 | |
South32 Ltd. | | | 3,229 | | | | 6,879 | |
Steadfast Group Ltd. | | | 15,331 | | | | 67,302 | |
Stockland REIT | | | 13,539 | | | | 46,115 | |
Suncorp Group Ltd. | | | 6,287 | | | | 75,375 | |
Telstra Group Ltd. | | | 7,915 | | | | 21,105 | |
TPG Telecom Ltd. | | | 2,669 | | | | 8,982 | |
Transurban Group (a) | | | 2,706 | | | | 24,878 | |
Treasury Wine Estates Ltd. | | | 1,869 | | | | 14,495 | |
Vicinity Ltd. REIT | | | 10,111 | | | | 15,230 | |
Washington H Soul Pattinson & Co. Ltd. | | | 3,291 | | | | 77,037 | |
Wesfarmers Ltd. | | | 4,621 | | | | 227,626 | |
Westpac Banking Corp. | | | 1,033 | | | | 21,896 | |
Whitehaven Coal Ltd. | | | 1,169 | | | | 5,306 | |
Woodside Energy Group Ltd. | | | 2,473 | | | | 45,623 | |
Woolworths Group Ltd. | | | 6,011 | | | | 145,520 | |
Worley Ltd. | | | 832 | | | | 8,598 | |
Yancoal Australia Ltd. | | | 1,436 | | | | 5,261 | |
| | |
(Cost $4,291,136) | | | | | | | 5,032,889 | |
| | |
Austria — 0.2% | | | | | | | | |
ANDRITZ AG | | | 797 | | | | 52,579 | |
Erste Group Bank AG | | | 262 | | | | 14,358 | |
Raiffeisen Bank International AG | | | 335 | | | | 6,641 | |
Telekom Austria AG | | | 2,037 | | | | 20,045 | |
Verbund AG | | | 167 | | | | 14,261 | |
voestalpine AG | | | 873 | | | | 21,337 | |
| | |
(Cost $98,353) | | | | | | | 129,221 | |
| | |
Belgium — 0.6% | | | | | | | | |
Ackermans & van Haaren NV | | | 317 | | | | 63,090 | |
Ageas SA/NV | | | 571 | | | | 29,402 | |
Anheuser-Busch InBev SA/NV | | | 79 | | | | 4,836 | |
See Notes to Financial Statements.
2 | DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
D’ieteren Group | | | 23 | | | | 5,575 | |
Elia Group SA/NV | | | 167 | | | | 18,319 | |
KBC Group NV | | | 121 | | | | 9,421 | |
Lotus Bakeries NV | | | 5 | | | | 62,983 | |
Syensqo SA | | | 967 | | | | 79,636 | |
UCB SA | | | 226 | | | | 40,951 | |
Umicore SA | | | 254 | | | | 3,205 | |
| | |
(Cost $267,071) | | | | | | | 317,418 | |
| | |
Bermuda — 0.0% | | | | | | | | |
Hiscox Ltd. | | | | | | | | |
| | |
(Cost $3,037) | | | 248 | | | | 3,836 | |
| | |
Canada — 4.2% | | | | | | | | |
Agnico Eagle Mines Limited/Mines Agnico Eagle Limitee | | | 266 | | | | 21,671 | |
Alimentation Couche-Tard, Inc. | | | 2,809 | | | | 160,339 | |
Bank of Montreal | | | 65 | | | | 5,436 | |
Bank of Nova Scotia | | | 258 | | | | 12,877 | |
Barrick Gold Corp. | | | 646 | | | | 13,042 | |
BCE, Inc. | | | 550 | | | | 19,266 | |
Brookfield Asset Management Ltd., Class A | | | 5,377 | | | | 219,189 | |
Brookfield Corp. | | | 244 | | | | 12,275 | |
Cameco Corp. | | | 123 | | | | 5,018 | |
Canadian Imperial Bank of Commerce | | | 376 | | | | 21,973 | |
Canadian National Railway Co. | | | 488 | | | | 57,495 | |
Canadian Natural Resources Ltd. | | | 204 | | | | 7,383 | |
Canadian Pacific Kansas City Ltd. | | | 399 | | | | 33,119 | |
CGI, Inc. * | | | 1,394 | | | | 157,040 | |
Constellation Software, Inc. | | | 17 | | | | 55,509 | |
Dollarama, Inc. | | | 1,580 | | | | 160,022 | |
Enbridge, Inc. | | | 489 | | | | 19,672 | |
Fairfax Financial Holdings Ltd. | | | 93 | | | | 112,267 | |
Fortis, Inc. | | | 1,692 | | | | 74,447 | |
Franco-Nevada Corp. | | | 107 | | | | 13,065 | |
George Weston Ltd. | | | 717 | | | | 116,609 | |
Great-West Lifeco, Inc. | | | 179 | | | | 5,884 | |
Hydro One Ltd., 144A | | | 1,590 | | | | 54,044 | |
Imperial Oil Ltd. | | | 92 | | | | 6,929 | |
Intact Financial Corp. | | | 245 | | | | 46,106 | |
Loblaw Cos. Ltd. | | | 872 | | | | 113,795 | |
Magna International, Inc. | | | 1,806 | | | | 75,898 | |
Manulife Financial Corp. | | | 1,295 | | | | 35,754 | |
Metro, Inc. | | | 3,011 | | | | 189,138 | |
National Bank of Canada | | | 86 | | | | 7,880 | |
Nutrien Ltd. | | | 427 | | | | 20,679 | |
Power Corp. of Canada | | | 1,044 | | | | 32,046 | |
Restaurant Brands International, Inc. | | | 513 | | | | 35,639 | |
Royal Bank of Canada | | | 49 | | | | 5,925 | |
Saputo, Inc. | | | 2,134 | | | | 47,454 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Sun Life Financial, Inc. | | | 808 | | | | 44,041 | |
Suncor Energy, Inc. | | | 1,187 | | | | 48,140 | |
TC Energy Corp. | | | 607 | | | | 28,113 | |
TELUS Corp. | | | 1,012 | | | | 16,347 | |
Thomson Reuters Corp. | | | 233 | | | | 39,904 | |
Toronto-Dominion Bank | | | 85 | | | | 5,093 | |
Tourmaline Oil Corp. | | | 1,674 | | | | 76,288 | |
Waste Connections, Inc. | | | 543 | | | | 101,255 | |
Wheaton Precious Metals Corp. | | | 450 | | | | 27,810 | |
| | |
(Cost $1,953,412) | | | | | | | 2,361,876 | |
| | |
Chile — 0.1% | | | | | | | | |
Antofagasta PLC | | | | | | | | |
| | |
(Cost $24,452) | | | 1,178 | | | | 28,688 | |
| | |
China — 0.1% | | | | | | | | |
Lenovo Group Ltd. | | | | | | | | |
| | |
(Cost $39,651) | | | 41,718 | | | | 51,289 | |
| | |
Denmark — 0.8% | | | | | | | | |
A.P. Moller — Maersk A/S, Class A | | | 14 | | | | 20,350 | |
A.P. Moller — Maersk A/S, Class B | | | 15 | | | | 22,405 | |
Carlsberg AS, Class B | | | 556 | | | | 65,348 | |
Coloplast A/S, Class B | | | 41 | | | | 5,599 | |
Danske Bank A/S | | | 613 | | | | 19,158 | |
Demant A/S * | | | 683 | | | | 28,947 | |
DSV A/S | | | 76 | | | | 13,590 | |
Genmab A/S * | | | 58 | | | | 16,125 | |
H Lundbeck A/S | | | 5,199 | | | | 36,971 | |
H Lundbeck A/S, Class A | | | 1,371 | | | | 8,382 | |
Novo Nordisk A/S, Class B | | | 183 | | | | 25,476 | |
Novonesis (Novozymes) B, Class B | | | 788 | | | | 54,727 | |
Pandora A/S | | | 354 | | | | 62,042 | |
ROCKWOOL A/S, Class B | | | 95 | | | | 41,222 | |
Svitzer Group A/S * | | | 58 | | | | 2,230 | |
Tryg A/S | | | 1,277 | | | | 28,502 | |
| | |
(Cost $376,854) | | | | | | | 451,074 | |
| | |
Finland — 1.0% | | | | | | | | |
Elisa OYJ | | | 613 | | | | 30,683 | |
Kesko OYJ, Class B | | | 4,263 | | | | 86,659 | |
Kone OYJ, Class B | | | 1,590 | | | | 85,887 | |
Metso Corp. | | | 755 | | | | 7,672 | |
Neste OYJ | | | 188 | | | | 4,401 | |
Nokia OYJ | | | 3,146 | | | | 13,853 | |
Nordea Bank Abp | | | 1,983 | | | | 23,442 | |
Orion OYJ, Class B | | | 716 | | | | 38,018 | |
Sampo OYJ, Class A | | | 1,481 | | | | 66,245 | |
Stora Enso OYJ, Class R | | | 913 | | | | 11,819 | |
UPM-Kymmene OYJ | | | 2,550 | | | | 86,315 | |
Valmet OYJ | | | 632 | | | | 18,119 | |
See Notes to Financial Statements.
DBX ETF Trust | 3
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Wartsila OYJ Abp | | | 3,244 | | | | 71,887 | |
| | |
(Cost $534,120) | | | | | | | 545,000 | |
| | |
France — 4.2% | | | | | | | | |
Accor SA | | | 1,162 | | | | 48,966 | |
Air Liquide SA | | | 214 | | | | 39,966 | |
Airbus SE | | | 25 | | | | 3,841 | |
Alstom SA * | | | 697 | | | | 14,254 | |
Amundi SA, 144A | | | 433 | | | | 32,592 | |
Arkema SA | | | 806 | | | | 75,075 | |
AXA SA | | | 387 | | | | 14,736 | |
BioMerieux | | | 166 | | | | 19,238 | |
BNP Paribas SA | | | 45 | | | | 3,117 | |
Bollore SE | | | 7,930 | | | | 52,271 | |
Bouygues SA | | | 2,833 | | | | 101,633 | |
Bureau Veritas SA | | | 1,237 | | | | 40,858 | |
Capgemini SE | | | 269 | | | | 55,829 | |
Carrefour SA | | | 4,417 | | | | 71,284 | |
Cie de Saint-Gobain SA | | | 1,566 | | | | 137,078 | |
Cie Generale des Etablissements Michelin SCA | | | 4,675 | | | | 183,756 | |
Credit Agricole SA | | | 441 | | | | 6,910 | |
Danone SA | | | 833 | | | | 57,905 | |
Dassault Aviation SA | | | 170 | | | | 36,656 | |
Dassault Systemes SE | | | 299 | | | | 11,676 | |
Edenred SE | | | 952 | | | | 40,265 | |
Eiffage SA | | | 491 | | | | 51,523 | |
Engie SA | | | 8,595 | | | | 151,555 | |
EssilorLuxottica SA | | | 96 | | | | 22,761 | |
Eurazeo SE | | | 558 | | | | 44,038 | |
Getlink SE | | | 1,135 | | | | 20,497 | |
Hermes International SCA | | | 1 | | | | 2,401 | |
Ipsen SA | | | 117 | | | | 14,207 | |
JCDecaux SE * | | | 264 | | | | 5,456 | |
La Francaise des Jeux SAEM, 144A | | | 1,091 | | | | 44,537 | |
Legrand SA | | | 912 | | | | 102,161 | |
L’Oreal SA | | | 14 | | | | 6,146 | |
LVMH Moet Hennessy Louis Vuitton SE | | | 4 | | | | 2,986 | |
Orange SA | | | 10,089 | | | | 115,025 | |
Pernod Ricard SA | | | 63 | | | | 8,982 | |
Pluxee NV * | | | 1,285 | | | | 30,503 | |
Publicis Groupe SA | | | 1,253 | | | | 137,890 | |
Remy Cointreau SA | | | 22 | | | | 1,797 | |
Renault SA | | | 271 | | | | 12,884 | |
Rexel SA | | | 548 | | | | 13,854 | |
Safran SA | | | 41 | | | | 8,984 | |
Sanofi SA | | | 436 | | | | 48,840 | |
Schneider Electric SE | | | 154 | | | | 39,155 | |
SEB SA | | | 574 | | | | 60,105 | |
Societe Generale SA | | | 334 | | | | 8,071 | |
Sodexo SA | | | 719 | | | | 64,067 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
SOITEC * | | | 36 | | | | 4,479 | |
Teleperformance SE | | | 184 | | | | 20,135 | |
Thales SA | | | 186 | | | | 31,294 | |
TotalEnergies SE | | | 314 | | | | 21,615 | |
Veolia Environnement SA | | | 3,492 | | | | 115,727 | |
Vinci SA | | | 416 | | | | 49,800 | |
Vivendi SE | | | 547 | | | | 6,143 | |
Wendel SE | | | 60 | | | | 6,093 | |
| | |
(Cost $2,057,170) | | | | | | | 2,321,617 | |
| | |
Germany — 3.7% | | | | | | | | |
adidas AG | | | 66 | | | | 16,949 | |
Allianz SE | | | 191 | | | | 59,387 | |
BASF SE | | | 934 | | | | 47,402 | |
Bayer AG | | | 259 | | | | 7,989 | |
Bayerische Motoren Werke AG | | | 571 | | | | 52,978 | |
Bechtle AG | | | 209 | | | | 9,008 | |
Beiersdorf AG | | | 351 | | | | 50,799 | |
Brenntag SE | | | 2,710 | | | | 201,640 | |
Carl Zeiss Meditec AG | | | 31 | | | | 2,277 | |
Continental AG | | | 331 | | | | 22,379 | |
Covestro AG, 144A * | | | 1,028 | | | | 63,039 | |
CTS Eventim AG & Co. KGaA | | | 123 | | | | 11,559 | |
Daimler Truck Holding AG | | | 516 | | | | 19,796 | |
Deutsche Bank AG (b) | | | 401 | | | | 6,546 | |
Deutsche Boerse AG | | | 35 | | | | 7,861 | |
Deutsche Lufthansa AG | | | 968 | | | | 6,309 | |
Deutsche Post AG | | | 2,624 | | | | 113,857 | |
Deutsche Telekom AG | | | 2,070 | | | | 58,909 | |
DWS Group GmbH & Co. KGaA, 144A (b) | | | 128 | | | | 4,948 | |
E.ON SE | | | 25,679 | | | | 364,113 | |
Evonik Industries AG | | | 2,146 | | | | 47,627 | |
Fielmann Group AG | | | 96 | | | | 4,691 | |
Fraport AG Frankfurt Airport Services Worldwide * | | | 17 | | | | 860 | |
Fresenius Medical Care AG | | | 2,286 | | | | 88,209 | |
Fresenius SE & Co. KGaA * | | | 1,254 | | | | 46,319 | |
FUCHS SE | | | 859 | | | | 29,476 | |
GEA Group AG | | | 1,028 | | | | 48,247 | |
Hannover Rueck SE | | | 121 | | | | 34,327 | |
Heidelberg Materials AG | | | 1,679 | | | | 177,783 | |
Henkel AG & Co. KGaA | | | 241 | | | | 20,047 | |
HOCHTIEF AG | | | 191 | | | | 23,383 | |
Infineon Technologies AG | | | 228 | | | | 8,328 | |
Knorr-Bremse AG | | | 227 | | | | 18,682 | |
LEG Immobilien SE | | | 125 | | | | 12,046 | |
Mercedes-Benz Group AG | | | 252 | | | | 17,389 | |
Merck KGaA | | | 265 | | | | 51,582 | |
MTU Aero Engines AG | | | 89 | | | | 26,599 | |
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | | | 52 | | | | 28,163 | |
See Notes to Financial Statements.
4 | DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Nemetschek SE | | | 27 | | | | 2,817 | |
Puma SE | | | 439 | | | | 18,995 | |
Rational AG | | | 13 | | | | 13,116 | |
Rheinmetall AG | | | 13 | | | | 7,799 | |
RWE AG | | | 1,308 | | | | 47,243 | |
SAP SE | | | 73 | | | | 15,976 | |
Scout24 SE, 144A | | | 1,208 | | | | 92,396 | |
Siemens AG | | | 85 | | | | 15,987 | |
Siemens Energy AG * | | | 289 | | | | 8,333 | |
Siemens Healthineers AG, 144A | | | 94 | | | | 5,471 | |
Symrise AG | | | 176 | | | | 23,193 | |
Talanx AG | | | 111 | | | | 9,565 | |
Traton SE | | | 242 | | | | 8,009 | |
| | |
(Cost $1,846,546) | | | | | | | 2,080,403 | |
| | |
Hong Kong — 1.6% | | | | | | | | |
ASMPT Ltd. | | | 1,050 | | | | 11,819 | |
Bank of East Asia Ltd. | | | 8,333 | | | | 10,576 | |
BOC Hong Kong Holdings Ltd. | | | 2,923 | | | | 9,218 | |
Cathay Pacific Airways Ltd. | | | 6,245 | | | | 6,365 | |
Chow Tai Fook Jewellery Group Ltd. | | | 5,608 | | | | 4,781 | |
CK Asset Holdings Ltd. | | | 4,445 | | | | 17,979 | |
CK Hutchison Holdings Ltd. | | | 14,006 | | | | 77,298 | |
CK Infrastructure Holdings Ltd. | | | 4,114 | | | | 30,537 | |
CLP Holdings Ltd. | | | 9,121 | | | | 81,734 | |
ESR Group Ltd., 144A | | | 4,524 | | | | 7,018 | |
First Pacific Co. Ltd. | | | 59,794 | | | | 31,965 | |
Hang Lung Group Ltd. | | | 3,036 | | | | 3,468 | |
Henderson Land Development Co. Ltd. | | | 1,510 | | | | 4,704 | |
Hong Kong & China Gas Co. Ltd. | | | 30,427 | | | | 24,769 | |
Hong Kong Exchanges & Clearing Ltd. | | | 177 | | | | 5,455 | |
Hutchison Port Holdings Trust, Class U | | | 26,000 | | | | 3,354 | |
Jardine Matheson Holdings Ltd. | | | 1,400 | | | | 50,456 | |
Johnson Electric Holdings Ltd. | | | 2,914 | | | | 4,012 | |
Kerry Properties Ltd. | | | 268 | | | | 503 | |
Link REIT | | | 11,261 | | | | 53,270 | |
NWS Holdings Ltd. | | | 25,116 | | | | 22,829 | |
PCCW Ltd. | | | 33,545 | | | | 18,965 | |
Power Assets Holdings Ltd. | | | 17,026 | | | | 118,849 | |
Sino Land Co. Ltd. | | | 8,145 | | | | 8,729 | |
SITC International Holdings Co. Ltd. | | | 4,904 | | | | 11,530 | |
Sun Hung Kai Properties Ltd. | | | 1,107 | | | | 10,849 | |
Swire Pacific Ltd., Class A | | | 1,938 | | | | 16,447 | |
Swire Pacific Ltd., Class B | | | 7,195 | | | | 9,445 | |
Swire Properties Ltd. | | | 348 | | | | 642 | |
Techtronic Industries Co. Ltd. | | | 1,529 | | | | 20,601 | |
VTech Holdings Ltd. | | | 6,308 | | | | 41,000 | |
WH Group Ltd., 144A | | | 178,158 | | | | 129,729 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Yue Yuen Industrial Holdings Ltd. | | | 11,329 | | | | 19,636 | |
| | |
(Cost $856,724) | | | | | | | 868,532 | |
| | |
Ireland — 1.5% | | | | | | | | |
DCC PLC | | | 5,136 | | | | 361,462 | |
Experian PLC | | | 2,024 | | | | 97,996 | |
Flutter Entertainment PLC * | | | 41 | | | | 8,729 | |
Glanbia PLC | | | 4,560 | | | | 80,759 | |
James Hardie Industries PLC CDI * | | | 2,354 | | | | 87,973 | |
Kerry Group PLC, Class A | | | 426 | | | | 42,816 | |
Kingspan Group PLC | | | 450 | | | | 39,201 | |
Smurfit WestRock PLC | | | 2,412 | | | | 113,834 | |
| | |
(Cost $719,803) | | | | | | | 832,770 | |
| | |
Israel — 1.0% | | | | | | | | |
Airport City Ltd. * | | | 1,035 | | | | 15,978 | |
Amot Investments Ltd. | | | 2,584 | | | | 11,497 | |
Azrieli Group Ltd. | | | 228 | | | | 15,525 | |
Bank Hapoalim BM | | | 4,867 | | | | 48,408 | |
Bank Leumi Le-Israel BM | | | 5,255 | | | | 50,587 | |
Bezeq The Israeli Telecommunication Corp. Ltd. | | | 31,276 | | | | 37,186 | |
Big Shopping Centers Ltd. * | | | 144 | | | | 15,879 | |
Elbit Systems Ltd. | | | 248 | | | | 51,063 | |
Electra Ltd. | | | 14 | | | | 5,764 | |
Energix-Renewable Energies Ltd. | | | 1,451 | | | | 5,192 | |
Enlight Renewable Energy Ltd. * | | | 428 | | | | 7,073 | |
First International Bank Of Israel Ltd. | | | 596 | | | | 24,530 | |
Harel Insurance Investments & Financial Services Ltd. | | | 629 | | | | 6,454 | |
ICL Group Ltd. | | | 3,335 | | | | 15,179 | |
Israel Discount Bank Ltd., Class A | | | 4,002 | | | | 22,142 | |
Melisron Ltd. | | | 469 | | | | 35,788 | |
Mivne Real Estate KD Ltd. | | | 14,209 | | | | 35,982 | |
Mizrahi Tefahot Bank Ltd. | | | 649 | | | | 24,779 | |
Nice Ltd. * | | | 164 | | | | 29,287 | |
Nova Ltd. * | | | 231 | | | | 52,530 | |
Phoenix Financial Ltd. | | | 1,044 | | | | 11,181 | |
Strauss Group Ltd. | | | 70 | | | | 1,122 | |
Teva Pharmaceutical Industries Ltd. * | | | 1,062 | | | | 20,060 | |
Tower Semiconductor Ltd. * | | | 359 | | | | 15,775 | |
| | |
(Cost $503,953) | | | | | | | 558,961 | |
| | |
Italy — 2.4% | | | | | | | | |
A2A SpA | | | 78,641 | | | | 179,492 | |
Amplifon SpA | | | 311 | | | | 10,028 | |
Banca Mediolanum SpA | | | 1,011 | | | | 12,366 | |
Banco BPM SpA | | | 2,110 | | | | 14,350 | |
Brunello Cucinelli SpA | | | 156 | | | | 15,325 | |
Buzzi SpA | | | 1,209 | | | | 47,427 | |
See Notes to Financial Statements.
DBX ETF Trust | 5
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Davide Campari-Milano NV | | | 762 | | | | 7,038 | |
DiaSorin SpA | | | 49 | | | | 5,641 | |
Enel SpA | | | 18,294 | | | | 138,994 | |
Eni SpA | | | 1,839 | | | | 29,870 | |
Ferrari NV | | | 121 | | | | 59,896 | |
FinecoBank Banca Fineco SpA | | | 1,288 | | | | 22,020 | |
Generali | | | 1,468 | | | | 40,428 | |
Hera SpA | | | 39,507 | | | | 152,182 | |
Infrastrutture Wireless Italiane SpA, 144A | | | 835 | | | | 10,000 | |
Interpump Group SpA | | | 388 | | | | 17,067 | |
Intesa Sanpaolo SpA | | | 2,025 | | | | 8,438 | |
Italgas SpA | | | 3,537 | | | | 19,928 | |
Leonardo SpA | | | 1,058 | | | | 26,888 | |
Mediobanca Banca di Credito Finanziario SpA | | | 846 | | | | 14,313 | |
Moncler SpA | | | 513 | | | | 31,470 | |
Nexi SpA, 144A * | | | 742 | | | | 5,186 | |
Pirelli & C SpA, 144A | | | 9,619 | | | | 58,496 | |
Poste Italiane SpA, 144A | | | 875 | | | | 12,155 | |
Prysmian SpA | | | 2,739 | | | | 192,216 | |
Recordati Industria Chimica e Farmaceutica SpA | | | 610 | | | | 35,786 | |
Reply SpA | | | 119 | | | | 18,797 | |
Snam SpA | | | 9,265 | | | | 45,975 | |
Telecom Italia SpA * | | | 22,767 | | | | 6,028 | |
Telecom Italia SpA-RSP * | | | 22,207 | | | | 6,507 | |
Terna - Rete Elettrica Nazionale | | | 9,762 | | | | 84,953 | |
UniCredit SpA | | | 370 | | | | 15,309 | |
| | |
(Cost $1,055,605) | | | | | | | 1,344,569 | |
| | |
Japan — 31.8% | | | | | | | | |
ABC-Mart, Inc. | | | 889 | | | | 18,262 | |
Acom Co. Ltd. | | | 4,300 | | | | 11,033 | |
Activia Properties, Inc. REIT | | | 6 | | | | 14,196 | |
Advance Residence Investment Corp. REIT | | | 6 | | | | 13,640 | |
Advantest Corp. | | | 248 | | | | 11,311 | |
Aeon Co. Ltd. | | | 1,349 | | | | 33,807 | |
Aeon Mall Co. Ltd. | | | 100 | | | | 1,411 | |
AEON REIT Investment Corp. REIT | | | 9 | | | | 8,283 | |
AGC, Inc. | | | 1,354 | | | | 42,720 | |
Aica Kogyo Co. Ltd. | | | 1,514 | | | | 34,823 | |
Air Water, Inc. | | | 6,100 | | | | 85,276 | |
Aisin Corp. | | | 2,293 | | | | 80,063 | |
Ajinomoto Co., Inc. | | | 1,300 | | | | 49,971 | |
Alfresa Holdings Corp. | | | 5,700 | | | | 93,796 | |
Amada Co. Ltd. | | | 6,743 | | | | 69,465 | |
Amano Corp. | | | 1,700 | | | | 51,080 | |
ANA Holdings, Inc. | | | 2,200 | | | | 44,505 | |
Anritsu Corp. | | | 1,200 | | | | 9,659 | |
As One Corp. | | | 200 | | | | 4,036 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Asahi Group Holdings Ltd. | | | 492 | | | | 18,338 | |
Asahi Intecc Co. Ltd. | | | 616 | | | | 11,298 | |
Asahi Kasei Corp. | | | 3,819 | | | | 27,068 | |
ASKUL Corp. | | | 400 | | | | 5,824 | |
Astellas Pharma, Inc. | | | 1,683 | | | | 21,002 | |
Azbil Corp. | | | 1,313 | | | | 43,149 | |
Bandai Namco Holdings, Inc. | | | 4,100 | | | | 88,051 | |
Bic Camera, Inc. | | | 1,800 | | | | 20,595 | |
BIPROGY, Inc. | | | 1,100 | | | | 35,575 | |
Bridgestone Corp. | | | 3,524 | | | | 137,518 | |
Brother Industries Ltd. | | | 942 | | | | 17,471 | |
Calbee, Inc. | | | 1,380 | | | | 30,670 | |
Canon Marketing Japan, Inc. | | | 1,400 | | | | 43,710 | |
Canon, Inc. | | | 4,922 | | | | 169,594 | |
Capcom Co. Ltd. | | | 1,316 | | | | 28,678 | |
Casio Computer Co. Ltd. | | | 900 | | | | 7,220 | |
Central Japan Railway Co. | | | 1,955 | | | | 45,382 | |
Chiba Bank Ltd. | | | 400 | | | | 3,365 | |
Chubu Electric Power Co., Inc. | | | 22,631 | | | | 282,722 | |
Chugai Pharmaceutical Co. Ltd. | | | 700 | | | | 35,499 | |
Chugoku Electric Power Co., Inc. | | | 3,283 | | | | 22,694 | |
Coca-Cola Bottlers Japan Holdings, Inc. | | | 1,700 | | | | 24,086 | |
COMSYS Holdings Corp. | | | 4,134 | | | | 91,024 | |
Concordia Financial Group Ltd. | | | 1,400 | | | | 7,894 | |
Cosmo Energy Holdings Co. Ltd. | | | 1,400 | | | | 77,401 | |
Cosmos Pharmaceutical Corp. | | | 620 | | | | 30,403 | |
Credit Saison Co. Ltd. | | | 300 | | | | 6,645 | |
Dai Nippon Printing Co. Ltd. | | | 2,507 | | | | 90,376 | |
Daicel Corp. | | | 5,827 | | | | 52,205 | |
Daido Steel Co. Ltd. | | | 3,075 | | | | 30,538 | |
Daifuku Co. Ltd. | | | 1,378 | | | | 26,575 | |
Dai-ichi Life Holdings, Inc. | | | 500 | | | | 14,344 | |
Daiichikosho Co. Ltd. | | | 600 | | | | 6,810 | |
Daikin Industries Ltd. | | | 120 | | | | 15,255 | |
Daito Trust Construction Co. Ltd. | | | 1,348 | | | | 166,643 | |
Daiwa House Industry Co. Ltd. | | | 4,302 | | | | 132,631 | |
Daiwa House REIT Investment Corp. REIT | | | 3 | | | | 4,860 | |
Daiwa Office Investment Corp. REIT | | | 2 | | | | 4,217 | |
Daiwa Securities Group, Inc. | | | 700 | | | | 5,163 | |
Daiwa Securities Living Investments Corp. REIT | | | 10 | | | | 7,143 | |
Denka Co. Ltd. | | | 700 | | | | 10,887 | |
Denso Corp. | | | 2,784 | | | | 42,839 | |
Dentsu Group, Inc. | | | 300 | | | | 9,224 | |
Dentsu Soken, Inc. | | | 100 | | | | 4,121 | |
DIC Corp. | | | 2,000 | | | | 43,034 | |
Disco Corp. | | | 93 | | | | 27,248 | |
DMG Mori Co. Ltd. | | | 1,000 | | | | 23,790 | |
Dowa Holdings Co. Ltd. | | | 900 | | | | 31,202 | |
See Notes to Financial Statements.
6 | DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
East Japan Railway Co. | | | 3,200 | | | | 61,569 | |
Ebara Corp. | | | 3,900 | | | | 52,806 | |
Electric Power Development Co. Ltd. | | | 7,476 | | | | 127,283 | |
ENEOS Holdings, Inc. | | | 78,520 | | | | 425,751 | |
EXEO Group, Inc. | | | 3,344 | | | | 35,965 | |
Ezaki Glico Co. Ltd. | | | 1,400 | | | | 39,806 | |
FANUC Corp. | | | 580 | | | | 17,077 | |
Fast Retailing Co. Ltd. | | | 29 | | | | 9,291 | |
Frontier Real Estate Investment Corp. REIT | | | 3 | | | | 8,829 | |
Fuji Electric Co. Ltd. | | | 1,288 | | | | 77,100 | |
Fuji Media Holdings, Inc. | | | 1,400 | | | | 16,461 | |
Fuji Oil Holdings, Inc. | | | 600 | | | | 13,207 | |
Fuji Soft, Inc. | | | 600 | | | | 36,716 | |
FUJIFILM Holdings Corp. | | | 2,453 | | | | 65,787 | |
Fujikura Ltd. | | | 1,200 | | | | 34,672 | |
Fujitsu Ltd. | | | 4,660 | | | | 85,692 | |
Fukuoka Financial Group, Inc. | | | 200 | | | | 5,264 | |
Fuyo General Lease Co. Ltd. | | | 200 | | | | 15,624 | |
GLP J REIT | | | 10 | | | | 9,176 | |
Goldwin, Inc. | | | 100 | | | | 6,179 | |
GS Yuasa Corp. | | | 538 | | | | 10,163 | |
Hachijuni Bank Ltd. | | | 900 | | | | 5,675 | |
Hakuhodo DY Holdings, Inc. | | | 1,369 | | | | 11,574 | |
Hamamatsu Photonics KK | | | 250 | | | | 6,669 | |
Hankyu Hanshin Holdings, Inc. | | | 1,367 | | | | 41,976 | |
Haseko Corp. | | | 1,497 | | | | 18,604 | |
Heiwa Corp. | | | 400 | | | | 5,788 | |
Hikari Tsushin, Inc. | | | 153 | | | | 32,217 | |
Hirogin Holdings, Inc. | | | 400 | | | | 3,132 | |
Hirose Electric Co. Ltd. | | | 282 | | | | 37,069 | |
Hisamitsu Pharmaceutical Co., Inc. | | | 200 | | | | 5,574 | |
Hitachi Construction Machinery Co. Ltd. | | | 600 | | | | 14,629 | |
Hitachi Ltd. | | | 4,130 | | | | 101,318 | |
Honda Motor Co. Ltd. | | | 11,235 | | | | 122,531 | |
Horiba Ltd. | | | 354 | | | | 23,583 | |
Hoshizaki Corp. | | | 1,226 | | | | 39,549 | |
House Foods Group, Inc. | | | 1,357 | | | | 27,311 | |
Hoya Corp. | | | 352 | | | | 49,788 | |
Hulic Co. Ltd. | | | 8,548 | | | | 88,442 | |
Ibiden Co. Ltd. | | | 300 | | | | 10,407 | |
Idemitsu Kosan Co. Ltd. | | | 40,725 | | | | 296,197 | |
IHI Corp. | | | 400 | | | | 17,411 | |
Iida Group Holdings Co. Ltd. | | | 300 | | | | 4,635 | |
Industrial & Infrastructure Fund Investment Corp. REIT | | | 3 | | | | 2,559 | |
INFRONEER Holdings, Inc. | | | 8,084 | | | | 67,846 | |
Inpex Corp. | | | 6,099 | | | | 90,874 | |
Internet Initiative Japan, Inc. | | | 700 | | | | 14,254 | |
Invincible Investment Corp. REIT | | | 14 | | | | 6,211 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Isetan Mitsukoshi Holdings Ltd. | | | 2,500 | | | | 37,653 | |
Isuzu Motors Ltd. | | | 5,500 | | | | 82,932 | |
Ito En Ltd. | | | 300 | | | | 7,259 | |
ITOCHU Corp. | | | 2,336 | | | | 123,630 | |
Itoham Yonekyu Holdings, Inc. | | | 160 | | | | 4,352 | |
Iwatani Corp. | | | 2,000 | | | | 121,534 | |
Iyogin Holdings, Inc. | | | 200 | | | | 1,854 | |
Izumi Co. Ltd. | | | 500 | | | | 11,184 | |
J. Front Retailing Co. Ltd. | | | 1,365 | | | | 13,410 | |
Japan Airlines Co. Ltd. | | | 1,400 | | | | 23,605 | |
Japan Aviation Electronics Industry Ltd. | | | 600 | | | | 10,702 | |
Japan Exchange Group, Inc. | | | 300 | | | | 6,939 | |
Japan Hotel REIT Investment Corp. REIT | | | 12 | | | | 6,165 | |
Japan Logistics Fund, Inc. REIT | | | 3 | | | | 5,396 | |
Japan Metropolitan Fund Invest REIT | | | 12 | | | | 7,615 | |
Japan Post Bank Co. Ltd. | | | 300 | | | | 2,810 | |
Japan Post Holdings Co. Ltd. | | | 500 | | | | 4,874 | |
Japan Post Insurance Co. Ltd. | | | 400 | | | | 7,541 | |
Japan Prime Realty Investment Corp. REIT | | | 4 | | | | 9,052 | |
Japan Real Estate Investment Corp. REIT | | | 6 | | | | 24,189 | |
Japan Tobacco, Inc. | | | 1,864 | | | | 53,806 | |
JFE Holdings, Inc. | | | 4,900 | | | | 67,810 | |
JGC Holdings Corp. | | | 1,700 | | | | 15,528 | |
JTEKT Corp. | | | 3,700 | | | | 28,511 | |
Kadokawa Corp. | | | 200 | | | | 3,994 | |
Kagome Co. Ltd. | | | 265 | | | | 5,840 | |
Kajima Corp. | | | 2,900 | | | | 52,949 | |
Kakaku.com, Inc. | | | 500 | | | | 8,588 | |
Kamigumi Co. Ltd. | | | 2,632 | | | | 59,363 | |
Kandenko Co. Ltd. | | | 3,892 | | | | 57,683 | |
Kaneka Corp. | | | 1,322 | | | | 34,202 | |
Kansai Electric Power Co., Inc. | | | 8,511 | | | | 151,100 | |
Kansai Paint Co. Ltd. | | | 4,188 | | | | 74,826 | |
Kao Corp. | | | 1,153 | | | | 51,828 | |
Kawasaki Heavy Industries Ltd. | | | 543 | | | | 19,209 | |
KDDI Corp. | | | 1,329 | | | | 44,825 | |
KDX Realty Investment Corp. REIT | | | 8 | | | | 8,879 | |
Keihan Holdings Co. Ltd. | | | 400 | | | | 7,750 | |
Keikyu Corp. | | | 1,100 | | | | 8,729 | |
Keio Corp. | | | 200 | | | | 4,895 | |
Keisei Electric Railway Co. Ltd. | | | 800 | | | | 25,279 | |
Kewpie Corp. | | | 1,359 | | | | 34,786 | |
Keyence Corp. | | | 22 | | | | 10,518 | |
Kikkoman Corp. | | | 3,230 | | | | 36,447 | |
Kinden Corp. | | | 5,000 | | | | 107,139 | |
Kintetsu Group Holdings Co. Ltd. | | | 2,800 | | | | 65,229 | |
Kirin Holdings Co. Ltd. | | | 1,612 | | | | 24,384 | |
See Notes to Financial Statements.
DBX ETF Trust | 7
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Kobe Bussan Co. Ltd. | | | 300 | | | | 8,746 | |
Kobe Steel Ltd. | | | 2,200 | | | | 27,023 | |
Koei Tecmo Holdings Co. Ltd. | | | 224 | | | | 2,506 | |
Koito Manufacturing Co. Ltd. | | | 600 | | | | 8,831 | |
Kokuyo Co. Ltd. | | | 4,200 | | | | 70,858 | |
Komatsu Ltd. | | | 2,370 | | | | 66,019 | |
Konami Group Corp. | | | 482 | | | | 43,514 | |
K’s Holdings Corp. | | | 1,011 | | | | 10,901 | |
Kubota Corp. | | | 1,600 | | | | 22,362 | |
Kuraray Co. Ltd. | | | 13,081 | | | | 171,592 | |
Kurita Water Industries Ltd. | | | 528 | | | | 21,152 | |
Kusuri no Aoki Holdings Co. Ltd. | | | 600 | | | | 13,759 | |
Kyocera Corp. | | | 5,088 | | | | 62,637 | |
Kyoto Financial Group, Inc. | | | 400 | | | | 6,346 | |
Kyowa Kirin Co. Ltd. | | | 800 | | | | 18,269 | |
Kyudenko Corp. | | | 1,099 | | | | 49,400 | |
Kyushu Electric Power Co., Inc. | | | 10,564 | | | | 111,985 | |
Kyushu Railway Co. | | | 1,400 | | | | 37,595 | |
LaSalle Logiport REIT | | | 7 | | | | 7,043 | |
Lion Corp. | | | 1,306 | | | | 13,315 | |
Lixil Corp. | | | 811 | | | | 9,639 | |
Mabuchi Motor Co. Ltd. | | | 2,700 | | | | 40,582 | |
Macnica Holdings, Inc. | | | 200 | | | | 8,112 | |
Makita Corp. | | | 400 | | | | 13,376 | |
Mani, Inc. | | | 500 | | | | 6,753 | |
Marubeni Corp. | | | 9,391 | | | | 160,403 | |
Marui Group Co. Ltd. | | | 879 | | | | 14,866 | |
Maruichi Steel Tube Ltd. | | | 2,650 | | | | 63,572 | |
Maruwa Co. Ltd./Aichi | | | 100 | | | | 26,544 | |
MatsukiyoCocokara & Co. | | | 3,691 | | | | 59,520 | |
Mazda Motor Corp. | | | 4,900 | | | | 41,124 | |
McDonald’s Holdings Co. Japan Ltd. | | | 1,400 | | | | 61,632 | |
Mebuki Financial Group, Inc. | | | 1,700 | | | | 6,657 | |
Medipal Holdings Corp. | | | 8,551 | | | | 149,902 | |
MEIJI Holdings Co. Ltd. | | | 3,538 | | | | 88,107 | |
MINEBEA MITSUMI, Inc. | | | 1,371 | | | | 28,803 | |
MISUMI Group, Inc. | | | 140 | | | | 2,644 | |
Mitsubishi Chemical Group Corp. | | | 23,902 | | | | 139,336 | |
Mitsubishi Corp. | | | 5,108 | | | | 105,700 | |
Mitsubishi Electric Corp. | | | 4,374 | | | | 73,328 | |
Mitsubishi Estate Co. Ltd. | | | 2,400 | | | | 41,216 | |
Mitsubishi Gas Chemical Co., Inc. | | | 3,667 | | | | 68,061 | |
Mitsubishi HC Capital, Inc. | | | 2,350 | | | | 16,922 | |
Mitsubishi Heavy Industries Ltd. | | | 3,730 | | | | 49,762 | |
Mitsubishi Logistics Corp. | | | 2,100 | | | | 73,757 | |
Mitsubishi Materials Corp. | | | 2,800 | | | | 49,546 | |
Mitsubishi Motors Corp. | | | 2,400 | | | | 6,868 | |
Mitsubishi UFJ Financial Group, Inc. | | | 500 | | | | 5,247 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Mitsui & Co. Ltd. | | | 6,050 | | | | 129,763 | |
Mitsui Chemicals, Inc. | | | 4,300 | | | | 114,909 | |
Mitsui Fudosan Co. Ltd. | | | 4,100 | | | | 44,152 | |
Mitsui Fudosan Logistics Park, Inc. REIT | | | 2 | | | | 6,037 | |
Mitsui Mining & Smelting Co. Ltd. | | | 1,000 | | | | 32,169 | |
Mitsui OSK Lines Ltd. | | | 1,974 | | | | 70,999 | |
Miura Co. Ltd. | | | 300 | | | | 6,816 | |
Mizuho Financial Group, Inc. | | | 580 | | | | 11,986 | |
MonotaRO Co. Ltd. | | | 600 | | | | 9,484 | |
Mori Hills REIT Investment Corp. REIT | | | 6 | | | | 5,349 | |
Morinaga & Co. Ltd. | | | 400 | | | | 7,553 | |
Morinaga Milk Industry Co. Ltd. | | | 400 | | | | 9,263 | |
MS&AD Insurance Group Holdings, Inc. | | | 1,200 | | | | 27,568 | |
Murata Manufacturing Co. Ltd. | | | 1,351 | | | | 28,142 | |
Nabtesco Corp. | | | 200 | | | | 3,404 | |
Nagase & Co. Ltd. | | | 3,565 | | | | 78,080 | |
Nagoya Railroad Co. Ltd. | | | 1,700 | | | | 20,344 | |
Nankai Electric Railway Co. Ltd. | | | 718 | | | | 11,635 | |
NEC Corp. | | | 800 | | | | 70,684 | |
NEC Networks & System Integration Corp. | | | 200 | | | | 3,618 | |
NET One Systems Co. Ltd. | | | 700 | | | | 16,374 | |
NGK Insulators Ltd. | | | 3,277 | | | | 43,696 | |
NH Foods Ltd. | | | 600 | | | | 22,516 | |
NHK Spring Co. Ltd. | | | 3,600 | | | | 41,228 | |
Nichirei Corp. | | | 1,400 | | | | 42,075 | |
Nidec Corp. | | | 200 | | | | 8,167 | |
Nifco, Inc. | | | 761 | | | | 19,458 | |
Nikon Corp. | | | 1,100 | | | | 11,782 | |
Nintendo Co. Ltd. | | | 1,350 | | | | 73,265 | |
Nippon Accommodations Fund, Inc. REIT | | | 2 | | | | 9,052 | |
Nippon Building Fund, Inc. REIT | | | 5 | | | | 22,527 | |
NIPPON EXPRESS HOLDINGS, Inc. | | | 536 | | | | 27,366 | |
Nippon Kayaku Co. Ltd. | | | 4,900 | | | | 43,479 | |
Nippon Prologis REIT, Inc. REIT | | | 6 | | | | 10,607 | |
Nippon Sanso Holdings Corp. | | | 1,259 | | | | 43,035 | |
Nippon Shokubai Co. Ltd. | | | 4,000 | | | | 46,221 | |
Nippon Steel Corp. | | | 3,313 | | | | 75,314 | |
Nippon Telegraph & Telephone Corp. | | | 11,175 | | | | 11,950 | |
Nippon Yusen KK | | | 2,700 | | | | 97,779 | |
Nishi-Nippon Railroad Co. Ltd. | | | 1,400 | | | | 22,970 | |
Nissan Chemical Corp. | | | 1,083 | | | | 37,115 | |
Nissan Motor Co. Ltd. | | | 8,300 | | | | 24,255 | |
Nisshin Seifun Group, Inc. | | | 1,478 | | | | 19,170 | |
Nissin Foods Holdings Co. Ltd. | | | 1,352 | | | | 35,368 | |
Niterra Co. Ltd. | | | 2,202 | | | | 65,060 | |
See Notes to Financial Statements.
8 | DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Nitori Holdings Co. Ltd. | | | 310 | | | | 46,243 | |
Nitto Denko Corp. | | | 1,843 | | | | 153,346 | |
Noevir Holdings Co. Ltd. | | | 200 | | | | 7,802 | |
NOF Corp. | | | 4,121 | | | | 64,219 | |
NOK Corp. | | | 1,900 | | | | 31,148 | |
Nomura Real Estate Holdings, Inc. | | | 986 | | | | 28,265 | |
Nomura Real Estate Master Fund, Inc. REIT | | | 12 | | | | 12,173 | |
Nomura Research Institute Ltd. | | | 1,400 | | | | 47,210 | |
NS Solutions Corp. | | | 1,700 | | | | 43,374 | |
NSK Ltd. | | | 4,100 | | | | 21,138 | |
Obayashi Corp. | | | 26,362 | | | | 337,480 | |
OBIC Business Consultants Co. Ltd. | | | 300 | | | | 14,690 | |
Obic Co. Ltd. | | | 235 | | | | 40,833 | |
Odakyu Electric Railway Co. Ltd. | | | 3,200 | | | | 37,328 | |
Oji Holdings Corp. | | | 13,388 | | | | 53,587 | |
OKUMA Corp. | | | 700 | | | | 29,086 | |
Omron Corp. | | | 600 | | | | 24,832 | |
Ono Pharmaceutical Co. Ltd. | | | 1,677 | | | | 24,832 | |
Open House Group Co. Ltd. | | | 1,180 | | | | 46,550 | |
Oracle Corp. | | | 300 | | | | 27,135 | |
Oriental Land Co. Ltd. | | | 490 | | | | 13,421 | |
ORIX Corp. | | | 2,636 | | | | 65,970 | |
Orix JREIT, Inc. REIT | | | 8 | | | | 8,335 | |
Osaka Gas Co. Ltd. | | | 6,229 | | | | 153,752 | |
OSG Corp. | | | 1,300 | | | | 18,111 | |
Otsuka Corp. | | | 2,816 | | | | 67,032 | |
Otsuka Holdings Co. Ltd. | | | 1,634 | | | | 95,994 | |
PALTAC Corp. | | | 382 | | | | 11,725 | |
Pan Pacific International Holdings Corp. | | | 1,399 | | | | 35,627 | |
Panasonic Holdings Corp. | | | 8,472 | | | | 70,549 | |
Penta-Ocean Construction Co. Ltd. | | | 2,820 | | | | 12,401 | |
Persol Holdings Co. Ltd. | | | 8,590 | | | | 16,796 | |
Pigeon Corp. | | | 300 | | | | 3,250 | |
Pola Orbis Holdings, Inc. | | | 400 | | | | 4,045 | |
Rakuten Group, Inc. * | | | 1,100 | | | | 7,808 | |
Recruit Holdings Co. Ltd. | | | 926 | | | | 57,536 | |
Renesas Electronics Corp. | | | 500 | | | | 8,633 | |
Rengo Co. Ltd. | | | 5,412 | | | | 37,336 | |
Resona Holdings, Inc. | | | 1,300 | | | | 9,201 | |
Resonac Holdings Corp. | | | 1,300 | | | | 31,776 | |
Resorttrust, Inc. | | | 900 | | | | 17,202 | |
Ricoh Co. Ltd. | | | 2,200 | | | | 22,966 | |
Rinnai Corp. | | | 1,351 | | | | 30,350 | |
Rohm Co. Ltd. | | | 1,256 | | | | 15,743 | |
Rohto Pharmaceutical Co. Ltd. | | | 722 | | | | 17,236 | |
Ryohin Keikaku Co. Ltd. | | | 1,600 | | | | 30,120 | |
Sankyo Co. Ltd. | | | 8,945 | | | | 128,856 | |
Sankyu, Inc. | | | 1,400 | | | | 45,816 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Sanrio Co. Ltd. | | | 300 | | | | 7,665 | |
Santen Pharmaceutical Co. Ltd. | | | 1,800 | | | | 23,198 | |
Sanwa Holdings Corp. | | | 5,100 | | | | 116,182 | |
Sapporo Holdings Ltd. | | | 300 | | | | 14,934 | |
SBI Holdings, Inc. | | | 500 | | | | 12,252 | |
SCREEN Holdings Co. Ltd. | | | 128 | | | | 9,578 | |
SCSK Corp. | | | 1,400 | | | | 28,110 | |
Secom Co. Ltd. | | | 1,677 | | | | 122,315 | |
Sega Sammy Holdings, Inc. | | | 1,000 | | | | 17,513 | |
Seibu Holdings, Inc. | | | 1,900 | | | | 40,948 | |
Seiko Epson Corp. | | | 2,151 | | | | 40,042 | |
Seino Holdings Co. Ltd. | | | 4,200 | | | | 66,791 | |
Sekisui Chemical Co. Ltd. | | | 6,301 | | | | 95,875 | |
Sekisui House Ltd. | | | 3,536 | | | | 91,165 | |
Sekisui House Reit, Inc. REIT | | | 21 | | | | 12,115 | |
Seven & i Holdings Co. Ltd. | | | 2,000 | | | | 28,825 | |
Seven Bank Ltd. | | | 2,500 | | | | 4,943 | |
SG Holdings Co. Ltd. | | | 4,360 | | | | 47,327 | |
Shikoku Electric Power Co., Inc. | | | 4,900 | | | | 44,253 | |
Shimadzu Corp. | | | 896 | | | | 29,814 | |
Shimamura Co. Ltd. | | | 1,222 | | | | 65,294 | |
Shimano, Inc. | | | 262 | | | | 49,303 | |
Shimizu Corp. | | | 22,146 | | | | 148,081 | |
Shin-Etsu Chemical Co. Ltd. | | | 1,335 | | | | 58,881 | |
Shinko Electric Industries Co. Ltd. | | | 200 | | | | 7,743 | |
Shionogi & Co. Ltd. | | | 1,500 | | | | 70,125 | |
Shiseido Co. Ltd. | | | 200 | | | | 4,479 | |
Shizuoka Financial Group, Inc. | | | 1,200 | | | | 10,693 | |
SHO-BOND Holdings Co. Ltd. | | | 649 | | | | 25,001 | |
Skylark Holdings Co. Ltd. * | | | 5,460 | | | | 83,716 | |
SMC Corp. | | | 57 | | | | 26,228 | |
SoftBank Corp. | | | 2,205 | | | | 30,863 | |
Sohgo Security Services Co. Ltd. | | | 4,335 | | | | 30,740 | |
Sojitz Corp. | | | 7,520 | | | | 179,472 | |
Sompo Holdings, Inc. | | | 1,200 | | | | 28,268 | |
Sony Group Corp. | | | 173 | | | | 16,872 | |
Sotetsu Holdings, Inc. | | | 900 | | | | 15,057 | |
Square Enix Holdings Co. Ltd. | | | 500 | | | | 18,499 | |
Stanley Electric Co. Ltd. | | | 1,131 | | | | 21,644 | |
Subaru Corp. | | | 9,964 | | | | 188,906 | |
Sugi Holdings Co. Ltd. | | | 3,005 | | | | 52,152 | |
SUMCO Corp. | | | 300 | | | | 3,439 | |
Sumitomo Bakelite Co. Ltd. | | | 1,000 | | | | 26,572 | |
Sumitomo Chemical Co. Ltd. | | | 7,200 | | | | 20,665 | |
Sumitomo Corp. | | | 5,732 | | | | 135,658 | |
Sumitomo Electric Industries Ltd. | | | 11,426 | | | | 189,001 | |
Sumitomo Forestry Co. Ltd. | | | 1,383 | | | | 57,835 | |
Sumitomo Heavy Industries Ltd. | | | 1,349 | | | | 31,352 | |
Sumitomo Metal Mining Co. Ltd. | | | 569 | | | | 15,960 | |
See Notes to Financial Statements.
DBX ETF Trust | 9
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Sumitomo Mitsui Financial Group, Inc. | | | 200 | | | | 13,118 | |
Sumitomo Mitsui Trust Holdings, Inc. | | | 1,000 | | | | 24,745 | |
Sumitomo Realty & Development Co. Ltd. | | | 971 | | | | 33,110 | |
Sumitomo Rubber Industries Ltd. | | | 8,800 | | | | 89,871 | |
Sundrug Co. Ltd. | | | 1,188 | | | | 34,594 | |
Suntory Beverage & Food Ltd. | | | 674 | | | | 24,765 | |
Suzuken Co. Ltd. | | | 3,884 | | | | 137,643 | |
Suzuki Motor Corp. | | | 7,768 | | | | 90,348 | |
Sysmex Corp. | | | 381 | | | | 7,379 | |
Taiheiyo Cement Corp. | | | 300 | | | | 6,830 | |
Taisei Corp. | | | 1,634 | | | | 74,100 | |
Takara Holdings, Inc. | | | 3,700 | | | | 28,969 | |
Takashimaya Co. Ltd. | | | 800 | | | | 6,129 | |
Takeda Pharmaceutical Co. Ltd. | | | 100 | | | | 2,976 | |
TBS Holdings, Inc. | | | 800 | | | | 22,181 | |
TDK Corp. | | | 730 | | | | 49,369 | |
TechnoPro Holdings, Inc. | | | 387 | | | | 7,800 | |
Teijin Ltd. | | | 2,220 | | | | 20,774 | |
Terumo Corp. | | | 832 | | | | 15,368 | |
THK Co. Ltd. | | | 200 | | | | 3,687 | |
TIS, Inc. | | | 1,400 | | | | 35,028 | |
Tobu Railway Co. Ltd. | | | 1,900 | | | | 32,779 | |
Toda Corp. | | | 1,000 | | | | 6,899 | |
Toho Co. Ltd. | | | 659 | | | | 25,350 | |
Toho Gas Co. Ltd. | | | 2,800 | | | | 82,574 | |
Tohoku Electric Power Co., Inc. | | | 5,219 | | | | 47,475 | |
Tokai Carbon Co. Ltd. | | | 1,400 | | | | 8,555 | |
Tokio Marine Holdings, Inc. | | | 700 | | | | 26,470 | |
Tokyo Century Corp. | | | 600 | | | | 6,533 | |
Tokyo Electric Power Co. Holdings, Inc. * | | | 7,304 | | | | 34,853 | |
Tokyo Electron Ltd. | | | 61 | | | | 10,811 | |
Tokyo Gas Co. Ltd. | | | 16,359 | | | | 409,410 | |
Tokyo Ohka Kogyo Co. Ltd. | | | 1,300 | | | | 32,302 | |
Tokyo Seimitsu Co. Ltd. | | | 100 | | | | 5,652 | |
Tokyo Tatemono Co. Ltd. | | | 1,400 | | | | 23,360 | |
Tokyu Corp. | | | 1,600 | | | | 19,587 | |
Tokyu Fudosan Holdings Corp. | | | 2,522 | | | | 18,083 | |
TOPPAN Holdings, Inc. | | | 3,965 | | | | 119,354 | |
Toray Industries, Inc. | | | 6,900 | | | | 35,560 | |
Toridoll Holdings Corp. (c) | | | 300 | | | | 7,615 | |
Tosoh Corp. | | | 2,041 | | | | 26,283 | |
TOTO Ltd. | | | 280 | | | | 9,717 | |
Toyo Seikan Group Holdings Ltd. | | | 821 | | | | 13,067 | |
Toyo Suisan Kaisha Ltd. | | | 1,400 | | | | 87,353 | |
Toyo Tire Corp. | | | 3,400 | | | | 49,947 | |
Toyoda Gosei Co. Ltd. | | | 1,384 | | | | 24,813 | |
Toyota Boshoku Corp. | | | 1,900 | | | | 25,250 | |
Toyota Industries Corp. | | | 398 | | | | 31,270 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Toyota Motor Corp. | | | 300 | | | | 5,686 | |
Toyota Tsusho Corp. | | | 6,169 | | | | 118,313 | |
Trend Micro, Inc. | | | 439 | | | | 26,324 | |
TS Tech Co. Ltd. | | | 3,758 | | | | 47,825 | |
Tsumura & Co. | | | 300 | | | | 8,297 | |
Tsuruha Holdings, Inc. | | | 128 | | | | 7,769 | |
UBE Corp. | | | 293 | | | | 5,327 | |
Unicharm Corp. | | | 577 | | | | 20,127 | |
United Urban Investment Corp. REIT | | | 8 | | | | 7,906 | |
Ushio, Inc. | | | 601 | | | | 8,563 | |
USS Co. Ltd. | | | 5,600 | | | | 51,498 | |
Welcia Holdings Co. Ltd. | | | 800 | | | | 11,052 | |
West Japan Railway Co. | | | 3,300 | | | | 62,983 | |
Yakult Honsha Co. Ltd. | | | 300 | | | | 6,340 | |
Yamada Holdings Co. Ltd. | | | 7,057 | | | | 21,917 | |
Yamaguchi Financial Group, Inc. | | | 500 | | | | 5,779 | |
Yamaha Motor Co. Ltd. | | | 4,500 | | | | 39,157 | |
Yamato Holdings Co. Ltd. | | | 3,900 | | | | 45,320 | |
Yamato Kogyo Co. Ltd. | | | 1,400 | | | | 69,757 | |
Yamazaki Baking Co. Ltd. | | | 2,753 | | | | 51,021 | |
Yaoko Co. Ltd. | | | 400 | | | | 26,288 | |
Yaskawa Electric Corp. | | | 100 | | | | 3,310 | |
Yokogawa Electric Corp. | | | 1,400 | | | | 39,306 | |
Yokohama Rubber Co. Ltd. | | | 1,400 | | | | 31,970 | |
Zenkoku Hosho Co. Ltd. | | | 638 | | | | 25,769 | |
Zensho Holdings Co. Ltd. | | | 1,000 | | | | 52,210 | |
Zeon Corp. | | | 1,359 | | | | 11,214 | |
ZOZO, Inc. | | | 200 | | | | 6,378 | |
| | |
(Cost $15,547,692) | | | | | | | 17,746,282 | |
| | |
Jordan — 0.1% | | | | | | | | |
Hikma Pharmaceuticals PLC | | | | | | | | |
| | |
(Cost $81,073) | | | 3,133 | | | | 81,651 | |
| | |
Luxembourg — 0.1% | | | | | | | | |
ArcelorMittal SA | | | 216 | | | | 5,062 | |
Eurofins Scientific SE | | | 415 | | | | 23,721 | |
RTL Group SA | | | 373 | | | | 12,159 | |
Tenaris SA | | | 2,585 | | | | 37,698 | |
| | |
(Cost $89,631) | | | | | | | 78,640 | |
| | |
Netherlands — 2.6% | | | | | | | | |
Aalberts NV | | | 405 | | | | 15,789 | |
ABN AMRO Bank NV, 144A | | | 235 | | | | 4,029 | |
Adyen NV, 144A * | | | 6 | | | | 8,826 | |
Akzo Nobel NV | | | 1,089 | | | | 69,553 | |
ASM International NV | | | 12 | | | | 8,116 | |
ASML Holding NV | | | 10 | | | | 8,988 | |
ASR Nederland NV | | | 200 | | | | 9,796 | |
BE Semiconductor Industries NV | | | 139 | | | | 18,125 | |
CTP NV, 144A | | | 3,044 | | | | 57,213 | |
Euronext NV, 144A | | | 122 | | | | 13,045 | |
EXOR NV | | | 1,968 | | | | 219,145 | |
See Notes to Financial Statements.
10 | DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Ferrovial SE | | | 835 | | | | 34,882 | |
Heineken Holding NV | | | 554 | | | | 41,730 | |
Heineken NV | | | 203 | | | | 18,304 | |
IMCD NV | | | 365 | | | | 59,714 | |
ING Groep NV | | | 319 | | | | 5,789 | |
JDE Peet’s NV | | | 271 | | | | 6,215 | |
Koninklijke Ahold Delhaize NV | | | 6,413 | | | | 220,481 | |
Koninklijke KPN NV | | | 20,464 | | | | 83,652 | |
Koninklijke Philips NV * | | | 3,489 | | | | 105,084 | |
Koninklijke Vopak NV | | | 838 | | | | 38,569 | |
NN Group NV | | | 122 | | | | 5,981 | |
Prosus NV * | | | 257 | | | | 9,538 | |
QIAGEN NV * | | | 350 | | | | 16,066 | |
Randstad NV | | | 1,431 | | | | 68,982 | |
Signify NV, 144A | | | 786 | | | | 19,349 | |
Stellantis NV | | | 4,625 | | | | 77,498 | |
Universal Music Group NV | | | 1,090 | | | | 28,510 | |
Wolters Kluwer NV | | | 1,013 | | | | 172,847 | |
| | |
(Cost $1,287,702) | | | | | | | 1,445,816 | |
| | |
New Zealand — 0.9% | | | | | | | | |
a2 Milk Co. Ltd. * | | | 1,932 | | | | 7,349 | |
Air New Zealand Ltd. | | | 12,872 | | | | 4,389 | |
Auckland International Airport Ltd. | | | 2,896 | | | | 13,743 | |
Contact Energy Ltd. | | | 8,049 | | | | 41,949 | |
Fisher & Paykel Healthcare Corp. Ltd. | | | 3,301 | | | | 73,524 | |
Fletcher Building Ltd. | | | 14,724 | | | | 28,281 | |
Infratil Ltd. | | | 10,009 | | | | 69,134 | |
Mainfreight Ltd. | | | 1,494 | | | | 68,235 | |
Mercury NZ Ltd. | | | 7,558 | | | | 29,554 | |
Meridian Energy Ltd. | | | 4,259 | | | | 16,894 | |
Ryman Healthcare Ltd. * | | | 4,085 | | | | 12,396 | |
SKYCITY Entertainment Group Ltd. | | | 5,248 | | | | 4,892 | |
Spark New Zealand Ltd. | | | 58,256 | | | | 130,848 | |
Xero Ltd. * | | | 139 | | | | 13,471 | |
| | |
(Cost $550,802) | | | | | | | 514,659 | |
| | |
Norway — 1.0% | | | | | | | | |
Aker ASA, Class A | | | 206 | | | | 11,669 | |
Aker BP ASA | | | 440 | | | | 10,547 | |
DNB Bank ASA | | | 256 | | | | 5,416 | |
Equinor ASA | | | 752 | | | | 19,985 | |
Gjensidige Forsikring ASA | | | 917 | | | | 16,267 | |
Kongsberg Gruppen ASA | | | 1,116 | | | | 118,215 | |
Mowi ASA | | | 4,791 | | | | 83,542 | |
Norsk Hydro ASA | | | 2,409 | | | | 13,509 | |
Orkla ASA | | | 13,224 | | | | 117,605 | |
Salmar ASA | | | 1,085 | | | | 56,441 | |
Schibsted ASA, Class A | | | 510 | | | | 15,658 | |
Schibsted ASA, Class B | | | 587 | | | | 16,903 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Telenor ASA | | | 1,362 | | | | 16,909 | |
Var Energi ASA | | | 15,089 | | | | 50,714 | |
Yara International ASA | | | 727 | | | | 21,195 | |
| | |
(Cost $542,904) | | | | | | | 574,575 | |
| | |
Poland — 0.7% | | | | | | | | |
Bank Polska Kasa Opieki SA | | | 975 | | | | 40,001 | |
Dino Polska SA, 144A * | | | 342 | | | | 28,559 | |
KGHM Polska Miedz SA | | | 466 | | | | 16,748 | |
LPP SA | | | 2 | | | | 7,633 | |
ORLEN SA * | | | 11,870 | | | | 197,746 | |
Powszechna Kasa Oszczednosci Bank Polski SA | | | 807 | | | | 12,094 | |
Powszechny Zaklad Ubezpieczen SA | | | 3,798 | | | | 45,866 | |
Santander Bank Polska SA | | | 134 | | | | 18,028 | |
| | |
(Cost $335,921) | | | | | | | 366,675 | |
| | |
Portugal — 0.6% | | | | | | | | |
EDP SA | | | 6,848 | | | | 28,774 | |
Galp Energia SGPS SA | | | 10,786 | | | | 223,976 | |
Jeronimo Martins SGPS SA | | | 3,202 | | | | 59,332 | |
| | |
(Cost $236,393) | | | | | | | 312,082 | |
| | |
Russia — 0.0% | | | | | | | | |
Evraz PLC * (d) | | | | | | | | |
| | |
(Cost $35,071) | | | 4,559 | | | | 0 | |
| | |
Singapore — 3.2% | | | | | | | | |
BOC Aviation Ltd., 144A | | | 679 | | | | 5,850 | |
CapitaLand Ascendas REIT | | | 9,136 | | | | 20,186 | |
CapitaLand Ascott Trust (a) | | | 23,955 | | | | 16,724 | |
CapitaLand Integrated Commercial Trust REIT | | | 46,074 | | | | 74,937 | |
CapitaLand Investment Ltd. | | | 800 | | | | 1,663 | |
City Developments Ltd. | | | 1,900 | | | | 7,624 | |
ComfortDelGro Corp. Ltd. | | | 105,844 | | | | 115,308 | |
DBS Group Holdings Ltd. | | | 1,788 | | | | 49,877 | |
Genting Singapore Ltd. | | | 62,000 | | | | 38,291 | |
Jardine Cycle & Carriage Ltd. | | | 1,310 | | | | 27,809 | |
Keppel REIT | | | 24,772 | | | | 16,724 | |
Keppel DC REIT | | | 9,700 | | | | 15,851 | |
Keppel Ltd. | | | 72,162 | | | | 341,586 | |
Mapletree Industrial Trust REIT | | | 22,678 | | | | 42,452 | |
Mapletree Logistics Trust REIT | | | 37,967 | | | | 39,614 | |
Mapletree Pan Asia Commercial Trust REIT | | | 13,691 | | | | 14,390 | |
NETLINK NBN TRUST | | | 45,600 | | | | 30,611 | |
Oversea-Chinese Banking Corp. Ltd. | | | 7,262 | | | | 81,063 | |
Sembcorp Industries Ltd. | | | 17,853 | | | | 67,525 | |
SIA Engineering Co. Ltd. | | | 5,100 | | | | 9,156 | |
Singapore Airlines Ltd. (c) | | | 70,100 | | | | 337,741 | |
Singapore Exchange Ltd. | | | 16,180 | | | | 134,435 | |
Singapore Post Ltd. | | | 6,900 | | | | 2,276 | |
See Notes to Financial Statements.
DBX ETF Trust | 11
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Singapore Technologies Engineering Ltd. | | | 25,228 | | | | 86,129 | |
Singapore Telecommunications Ltd. | | | 25,466 | | | | 61,152 | |
StarHub Ltd. | | | 21,800 | | | | 20,572 | |
Suntec Real Estate Investment Trust REIT | | | 5,200 | | | | 4,907 | |
United Overseas Bank Ltd. | | | 2,300 | | | | 55,389 | |
UOL Group Ltd. | | | 8,629 | | | | 35,616 | |
Venture Corp. Ltd. | | | 4,062 | | | | 43,691 | |
Wilmar International Ltd. | | | 5,000 | | | | 12,045 | |
| | |
(Cost $1,772,136) | | | | | | | 1,811,194 | |
| | |
South Korea — 4.8% | | | | | | | | |
BGF retail Co. Ltd. | | | 89 | | | | 7,862 | |
BNK Financial Group, Inc. | | | 6,215 | | | | 47,269 | |
Cheil Worldwide, Inc. | | | 2,681 | | | | 36,446 | |
CJ CheilJedang Corp. | | | 93 | | | | 22,417 | |
CJ Corp. | | | 166 | | | | 13,905 | |
CJ Logistics Corp. | | | 416 | | | | 29,366 | |
Coway Co. Ltd. | | | 513 | | | | 25,806 | |
Daewoo Engineering & Construction Co. Ltd. * | | | 2,027 | | | | 6,115 | |
DB Insurance Co. Ltd. | | | 662 | | | | 57,485 | |
DGB Financial Group, Inc. | | | 2,164 | | | | 13,575 | |
DL E&C Co. Ltd. | | | 874 | | | | 21,591 | |
Dongsuh Cos., Inc. | | | 435 | | | | 6,067 | |
Doosan Bobcat, Inc. | | | 638 | | | | 19,008 | |
E-MART, Inc. | | | 27 | | | | 1,287 | |
Fila Holdings Corp. | | | 163 | | | | 5,168 | |
GS Engineering & Construction Corp. * | | | 744 | | | | 11,417 | |
GS Holdings Corp. | | | 2,290 | | | | 77,399 | |
GS Retail Co. Ltd. | | | 502 | | | | 8,286 | |
Hana Financial Group, Inc. | | | 1,754 | | | | 81,276 | |
Hankook Tire & Technology Co. Ltd. | | | 1,721 | | | | 55,913 | |
Hanon Systems | | | 1,269 | | | | 3,843 | |
Hanwha Corp. | | | 271 | | | | 5,893 | |
HD Hyundai Co. Ltd. | | | 500 | | | | 30,280 | |
HD Korea Shipbuilding & Offshore Engineering Co. Ltd. * | | | 149 | | | | 21,349 | |
Hotel Shilla Co. Ltd. | | | 121 | | | | 4,298 | |
Hyundai Department Store Co. Ltd. | | | 97 | | | | 3,471 | |
Hyundai Engineering & Construction Co. Ltd. | | | 636 | | | | 15,235 | |
Hyundai Glovis Co. Ltd. | | | 992 | | | | 83,171 | |
Hyundai Marine & Fire Insurance Co. Ltd. | | | 766 | | | | 19,955 | |
Hyundai Mobis Co. Ltd. | | | 698 | | | | 113,647 | |
Hyundai Motor Co. | | | 291 | | | | 55,658 | |
Hyundai Steel Co. | | | 718 | | | | 13,652 | |
Industrial Bank of Korea | | | 3,753 | | | | 38,798 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Kangwon Land, Inc. | | | 748 | | | | 8,953 | |
KB Financial Group, Inc. | | | 1,772 | | | | 113,946 | |
KEPCO Plant Service & Engineering Co. Ltd. | | | 255 | | | | 7,951 | |
Kia Corp. | | | 1,505 | | | | 119,535 | |
Korea Aerospace Industries Ltd. | | | 1,394 | | | | 56,664 | |
Korea Investment Holdings Co. Ltd. | | | 83 | | | | 4,523 | |
Korea Zinc Co. Ltd. | | | 22 | | | | 8,811 | |
Korean Air Lines Co. Ltd. | | | 3,103 | | | | 51,219 | |
Krafton, Inc. * | | | 42 | | | | 10,281 | |
KT&G Corp. | | | 1,577 | | | | 127,732 | |
Kumho Petrochemical Co. Ltd. | | | 95 | | | | 9,736 | |
LG Corp. | | | 384 | | | | 22,767 | |
LG Electronics, Inc. | | | 271 | | | | 20,165 | |
LG H&H Co. Ltd. | | | 22 | | | | 5,838 | |
LG Uplus Corp. | | | 5,402 | | | | 39,428 | |
Lotte Corp. | | | 398 | | | | 7,374 | |
LOTTE Fine Chemical Co. Ltd. | | | 254 | | | | 9,260 | |
Lotte Shopping Co. Ltd. | | | 163 | | | | 7,614 | |
LS Corp. | | | 87 | | | | 7,366 | |
Meritz Financial Group, Inc. | | | 123 | | | | 8,407 | |
Mirae Asset Securities Co. Ltd. | | | 3,976 | | | | 24,883 | |
NAVER Corp. | | | 46 | | | | 5,823 | |
NH Investment & Securities Co. Ltd. | | | 2,926 | | | | 29,920 | |
NongShim Co. Ltd. | | | 49 | | | | 14,159 | |
OCI Holdings Co. Ltd. | | | 88 | | | | 4,697 | |
Ottogi Corp. | | | 19 | | | | 5,924 | |
POSCO Holdings, Inc. | | | 109 | | | | 27,743 | |
S-1 Corp. | | | 869 | | | | 38,576 | |
Samsung C&T Corp. | | | 1,350 | | | | 149,265 | |
Samsung Card Co. Ltd. | | | 905 | | | | 29,436 | |
Samsung E&A Co. Ltd. * | | | 972 | | | | 18,445 | |
Samsung Electro-Mechanics Co. Ltd. | | | 189 | | | | 20,204 | |
Samsung Electronics Co. Ltd. | | | 131 | | | | 7,286 | |
Samsung Fire & Marine Insurance Co. Ltd. | | | 407 | | | | 105,570 | |
Samsung Life Insurance Co. Ltd. | | | 109 | | | | 7,931 | |
Samsung SDS Co. Ltd. | | | 864 | | | | 97,470 | |
Samsung Securities Co. Ltd. | | | 1,613 | | | | 57,053 | |
Shinhan Financial Group Co. Ltd. | | | 3,582 | | | | 150,429 | |
Shinsegae, Inc. | | | 102 | | | | 11,499 | |
SK Square Co. Ltd. * | | | 183 | | | | 10,754 | |
SK, Inc. | | | 173 | | | | 18,545 | |
S-Oil Corp. | | | 688 | | | | 32,138 | |
Woori Financial Group, Inc. | | | 8,812 | | | | 105,677 | |
Yuhan Corp. | | | 692 | | | | 73,041 | |
| | |
(Cost $2,197,462) | | | | | | | 2,650,946 | |
| | |
Spain — 0.9% | | | | | | | | |
Acciona SA | | | 44 | | | | 5,956 | |
See Notes to Financial Statements.
12 | DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
ACS Actividades de Construccion y Servicios SA | | | 1,224 | | | | 55,711 | |
Aena SME SA, 144A | | | 202 | | | | 40,828 | |
Amadeus IT Group SA | | | 452 | | | | 30,489 | |
Banco Bilbao Vizcaya Argentaria SA | | | 812 | | | | 8,620 | |
Banco Santander SA | | | 1,986 | | | | 9,884 | |
Bankinter SA | | | 758 | | | | 6,709 | |
CaixaBank SA | | | 1,602 | | | | 9,682 | |
Cellnex Telecom SA, 144A * | | | 162 | | | | 6,264 | |
Enagas SA | | | 933 | | | | 14,417 | |
Endesa SA | | | 1,472 | | | | 31,121 | |
Fomento de Construcciones y Contratas SA | | | 561 | | | | 8,247 | |
Grifols SA * | | | 1,216 | | | | 13,487 | |
Iberdrola SA | | | 3,453 | | | | 49,000 | |
Industria de Diseno Textil SA | | | 339 | | | | 18,379 | |
Mapfre SA | | | 7,826 | | | | 19,733 | |
Naturgy Energy Group SA | | | 158 | | | | 4,033 | |
Redeia Corp. SA | | | 2,078 | | | | 39,516 | |
Repsol SA | | | 2,944 | | | | 40,587 | |
Telefonica SA | | | 24,288 | | | | 110,065 | |
| | |
(Cost $466,918) | | | | | | | 522,728 | |
| | |
Sweden — 5.6% | | | | | | | | |
Alfa Laval AB | | | 2,112 | | | | 94,847 | |
Assa Abloy AB, Class B | | | 2,442 | | | | 78,954 | |
Atlas Copco AB, Class A | | | 2,863 | | | | 52,042 | |
Atlas Copco AB, Class B | | | 1,702 | | | | 27,124 | |
Axfood AB | | | 3,528 | | | | 94,257 | |
Boliden AB | | | 1,405 | | | | 43,080 | |
Epiroc AB, Class A | | | 2,592 | | | | 50,064 | |
Epiroc AB, Class B | | | 2,032 | | | | 36,173 | |
Essity AB, Class B | | | 2,581 | | | | 78,533 | |
Evolution AB, 144A | | | 86 | | | | 8,956 | |
Getinge AB, Class B | | | 1,558 | | | | 32,497 | |
H & M Hennes & Mauritz AB, Class B | | | 1,767 | | | | 28,039 | |
Hexagon AB, Class B | | | 4,071 | | | | 41,741 | |
Holmen AB, Class B | | | 1,742 | | | | 71,478 | |
Husqvarna AB, Class B | | | 3,751 | | | | 25,317 | |
Industrivarden AB, Class A | | | 4,929 | | | | 177,701 | |
Industrivarden AB, Class C | | | 5,280 | | | | 189,942 | |
Indutrade AB | | | 2,569 | | | | 80,978 | |
Investment AB Latour, Class B | | | 883 | | | | 26,609 | |
Investor AB, Class A | | | 1,347 | | | | 39,999 | |
Investor AB, Class B | | | 5,672 | | | | 169,123 | |
L E Lundbergforetagen AB, Class B | | | 798 | | | | 43,871 | |
Lifco AB, Class B | | | 1,119 | | | | 37,479 | |
Saab AB, Class B | | | 1,594 | | | | 37,722 | |
Sandvik AB | | | 3,077 | | | | 65,592 | |
Securitas AB, Class B | | | 22,541 | | | | 264,133 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Skandinaviska Enskilda Banken AB, Class A | | | 2,126 | | | | 32,801 | |
Skanska AB, Class B | | | 6,215 | | | | 125,808 | |
SKF AB, Class B | | | 8,343 | | | | 158,253 | |
SSAB AB, Class A | | | 6,536 | | | | 31,803 | |
SSAB AB, Class B | | | 22,128 | | | | 105,640 | |
Svenska Cellulosa AB SCA, Class B | | | 2,028 | | | | 28,230 | |
Svenska Handelsbanken AB, Class A | | | 2,934 | | | | 30,341 | |
Sweco AB, Class B | | | 1,302 | | | | 21,474 | |
Swedbank AB, Class A | | | 2,189 | | | | 46,898 | |
Swedish Orphan Biovitrum AB * | | | 320 | | | | 9,999 | |
Tele2 AB, Class B | | | 5,921 | | | | 67,358 | |
Telefonaktiebolaget LM Ericsson, Class B | | | 3,252 | | | | 24,299 | |
Telia Co. AB | | | 18,374 | | | | 57,127 | |
Trelleborg AB, Class B | | | 9,619 | | | | 375,903 | |
Volvo AB, Class A | | | 531 | | | | 14,321 | |
Volvo AB, Class B | | | 3,470 | | | | 92,368 | |
| | |
(Cost $2,894,487) | | | | | | | 3,118,874 | |
| | |
Switzerland — 4.6% | | | | | | | | |
ABB Ltd. | | | 1,706 | | | | 97,782 | |
Adecco Group AG | | | 3,955 | | | | 134,436 | |
Alcon, Inc. | | | 299 | | | | 29,003 | |
Bachem Holding AG | | | 51 | | | | 4,878 | |
Baloise Holding AG | | | 140 | | | | 27,078 | |
Banque Cantonale Vaudoise | | | 78 | | | | 8,357 | |
Barry Callebaut AG | | | 5 | | | | 8,109 | |
Belimo Holding AG | | | 49 | | | | 32,919 | |
BKW AG | | | 376 | | | | 70,728 | |
Chocoladefabriken Lindt & Spruengli AG Participation Certificates | | | 7 | | | | 92,569 | |
Cie Financiere Richemont SA, Class A | | | 91 | | | | 14,356 | |
Clariant AG * | | | 1,400 | | | | 22,012 | |
Coca-Cola HBC AG * | | | 2,938 | | | | 108,888 | |
DKSH Holding AG | | | 443 | | | | 35,505 | |
DSM-Firmenich AG | | | 30 | | | | 4,084 | |
Emmi AG | | | 24 | | | | 24,977 | |
EMS-Chemie Holding AG | | | 34 | | | | 28,512 | |
Flughafen Zurich AG | | | 121 | | | | 28,309 | |
Geberit AG | | | 155 | | | | 98,833 | |
Georg Fischer AG | | | 695 | | | | 55,005 | |
Givaudan SA | | | 20 | | | | 102,681 | |
Glencore PLC * | | | 7,907 | | | | 41,650 | |
Helvetia Holding AG | | | 85 | | | | 13,455 | |
Holcim AG * | | | 1,714 | | | | 165,087 | |
Julius Baer Group Ltd. | | | 85 | | | | 4,960 | |
Kuehne + Nagel International AG | | | 336 | | | | 104,192 | |
Logitech International SA | | | 1,913 | | | | 173,206 | |
Lonza Group AG | | | 136 | | | | 89,058 | |
See Notes to Financial Statements.
DBX ETF Trust | 13
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Nestle SA | | | 67 | | | | 7,188 | |
Novartis AG | | | 302 | | | | 36,349 | |
Partners Group Holding AG | | | 85 | | | | 122,323 | |
PSP Swiss Property AG | | | 234 | | | | 33,978 | |
Roche Holding AG | | | 30 | | | | 10,155 | |
Sandoz Group AG | | | 4,298 | | | | 188,951 | |
Schindler Holding AG | | | 93 | | | | 25,156 | |
Schindler Holding AG Participation Certificates | | | 187 | | | | 51,971 | |
SGS SA | | | 625 | | | | 69,715 | |
SIG Group AG * | | | 753 | | | | 15,922 | |
Sika AG | | | 17 | | | | 5,450 | |
Sonova Holding AG | | | 301 | | | | 104,939 | |
STMicroelectronics NV | | | 227 | | | | 7,229 | |
Straumann Holding AG | | | 222 | | | | 32,824 | |
Swatch Group AG – Bearer | | | 73 | | | | 15,298 | |
Swatch Group AG – Registered | | | 186 | | | | 7,760 | |
Swiss Life Holding AG | | | 41 | | | | 33,150 | |
Swiss Prime Site AG | | | 127 | | | | 14,310 | |
Swiss Re AG | | | 156 | | | | 21,273 | |
Swisscom AG | | | 66 | | | | 41,734 | |
Tecan Group AG | | | 25 | | | | 8,398 | |
Temenos AG | | | 207 | | | | 14,419 | |
UBS Group AG | | | 664 | | | | 20,324 | |
VAT Group AG, 144A | | | 114 | | | | 58,743 | |
Zurich Insurance Group AG | | | 41 | | | | 23,746 | |
| | |
(Cost $2,175,103) | | | | | | | 2,591,934 | |
| | |
Thailand — 0.0% | | | | | | | | |
Thai Beverage PCL | | | | | | | | |
| | |
(Cost $9,945) | | | 26,600 | | | | 10,816 | |
| | |
United Kingdom — 11.0% | | | | | | | | |
3i Group PLC | | | 12,628 | | | | 527,598 | |
Admiral Group PLC | | | 4,481 | | | | 171,846 | |
Amcor PLC CDI | | | 8,273 | | | | 93,685 | |
Anglo American PLC | | | 325 | | | | 9,435 | |
Ashtead Group PLC | | | 309 | | | | 21,922 | |
Associated British Foods PLC | | | 2,654 | | | | 86,852 | |
AstraZeneca PLC | | | 84 | | | | 14,654 | |
Auto Trader Group PLC, 144A | | | 10,641 | | | | 119,012 | |
Aviva PLC | | | 2,611 | | | | 17,315 | |
B&M European Value Retail SA | | | 24,731 | | | | 144,637 | |
BAE Systems PLC | | | 12,881 | | | | 230,740 | |
Barclays PLC | | | 1,720 | | | | 5,163 | |
Barratt Developments PLC | | | 15,569 | | | | 103,781 | |
Beazley PLC | | | 1,438 | | | | 14,174 | |
Berkeley Group Holdings PLC | | | 2,687 | | | | 176,005 | |
BP PLC | | | 4,075 | | | | 22,997 | |
British American Tobacco PLC | | | 277 | | | | 10,324 | |
BT Group PLC | | | 14,366 | | | | 26,244 | |
Bunzl PLC | | | 1,854 | | | | 86,256 | |
Burberry Group PLC | | | 615 | | | | 5,398 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Centrica PLC | | | 92,943 | | | | 157,269 | |
Compass Group PLC | | | 3,911 | | | | 123,309 | |
ConvaTec Group PLC, 144A | | | 2,926 | | | | 9,191 | |
Croda International PLC | | | 307 | | | | 16,571 | |
Diageo PLC | | | 620 | | | | 20,147 | |
DS Smith PLC | | | 41,184 | | | | 253,310 | |
Endeavour Mining PLC | | | 409 | | | | 8,676 | |
GSK PLC | | | 4,001 | | | | 87,130 | |
Haleon PLC | | | 10,057 | | | | 50,491 | |
Halma PLC | | | 1,378 | | | | 47,196 | |
Hargreaves Lansdown PLC | | | 6,549 | | | | 95,624 | |
Howden Joinery Group PLC | | | 13,731 | | | | 171,798 | |
HSBC Holdings PLC | | | 407 | | | | 3,566 | |
IMI PLC | | | 2,429 | | | | 58,451 | |
Imperial Brands PLC | | | 10,556 | | | | 302,436 | |
Informa PLC | | | 2,624 | | | | 28,761 | |
InterContinental Hotels Group PLC | | | 1,226 | | | | 122,199 | |
Intertek Group PLC | | | 1,575 | | | | 102,462 | |
J Sainsbury PLC | | | 56,035 | | | | 215,335 | |
Johnson Matthey PLC | | | 462 | | | | 9,927 | |
Kingfisher PLC | | | 12,517 | | | | 46,752 | |
Legal & General Group PLC | | | 4,467 | | | | 13,139 | |
Lloyds Banking Group PLC | | | 16,760 | | | | 12,886 | |
London Stock Exchange Group PLC | | | 51 | | | | 6,870 | |
Marks & Spencer Group PLC | | | 24,915 | | | | 112,052 | |
Melrose Industries PLC | | | 553 | | | | 3,502 | |
Mondi PLC | | | 9,648 | | | | 186,648 | |
National Grid PLC | | | 4,370 | | | | 57,352 | |
NatWest Group PLC | | | 1,560 | | | | 7,077 | |
Next PLC | | | 1,501 | | | | 200,524 | |
Pearson PLC | | | 5,290 | | | | 73,417 | |
Persimmon PLC | | | 3,288 | | | | 71,041 | |
Reckitt Benckiser Group PLC | | | 1,090 | | | | 62,544 | |
RELX PLC | | | 2,009 | | | | 93,441 | |
Rightmove PLC | | | 13,459 | | | | 98,277 | |
Rio Tinto PLC | | | 1,296 | | | | 81,246 | |
RS GROUP PLC | | | 4,252 | | | | 43,756 | |
Sage Group PLC | | | 5,687 | | | | 75,564 | |
Schroders PLC | | | 1,977 | | | | 8,897 | |
Severn Trent PLC | | | 869 | | | | 29,363 | |
Shell PLC | | | 446 | | | | 15,715 | |
Smith & Nephew PLC | | | 2,506 | | | | 38,551 | |
Smiths Group PLC | | | 2,057 | | | | 48,716 | |
Spirax Group PLC | | | 145 | | | | 14,664 | |
SSE PLC | | | 1,952 | | | | 48,409 | |
Standard Chartered PLC | | | 365 | | | | 3,739 | |
Taylor Wimpey PLC | | | 38,802 | | | | 82,128 | |
Tesco PLC | | | 121,737 | | | | 565,895 | |
Unilever PLC | | | 698 | | | | 45,005 | |
UNITE Group PLC REIT | | | 238 | | | | 2,995 | |
See Notes to Financial Statements.
14 | DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
United Utilities Group PLC | | | 4,275 | | | | 57,280 | |
Vodafone Group PLC | | | 45,097 | | | | 44,108 | |
Weir Group PLC | | | 1,173 | | | | 30,925 | |
Whitbread PLC | | | 556 | | | | 21,081 | |
Wise PLC, Class A * | | | 1,925 | | | | 17,823 | |
WPP PLC | | | 3,435 | | | | 32,694 | |
| | |
(Cost $4,784,780) | | | | | | | 6,125,963 | |
| | |
United States — 0.6% | | | | | | | | |
CRH PLC | | | 1,045 | | | | 94,855 | |
CRH PLC | | | 156 | | | | 13,827 | |
Ferguson Enterprises, Inc. * | | | 1,114 | | | | 226,931 | |
| | |
(Cost $213,455) | | | | | | | 335,613 | |
| | |
TOTAL COMMON STOCKS | | | | | | | | |
| | |
(Cost $47,849,362) | | | | | | | 55,216,591 | |
| | |
PREFERRED STOCKS — 0.4% | | | | | | | | |
Germany — 0.2% | | | | | | | | |
Bayerische Motoren Werke AG | | | 117 | | | | 10,127 | |
FUCHS SE | | | 1,111 | | | | 46,805 | |
Henkel AG & Co. KGaA | | | 413 | | | | 37,834 | |
Volkswagen AG | | | 34 | | | | 3,620 | |
| | |
(Cost $87,051) | | | | | | | 98,386 | |
| | |
South Korea — 0.1% | | | | | | | | |
CJ CheilJedang Corp. | | | 56 | | | | 5,844 | |
Hanwha Corp. | | | 512 | | | | 5,883 | |
Hyundai Motor Co. | | | 188 | | | | 26,036 | |
Hyundai Motor Co. | | | 120 | | | | 16,304 | |
Samsung Fire & Marine Insurance Co. Ltd. | | | 55 | | | | 11,158 | |
| | |
(Cost $40,707) | | | | | | | 65,225 | |
| | |
Spain — 0.1% | | | | | | | | |
Grifols SA, Class B * | | | | | | | | |
| | |
(Cost $9,457) | | | 1,492 | | | | 13,897 | |
| | |
TOTAL PREFERRED STOCKS | | | | | | | | |
| | |
(Cost $137,215) | | | | | | | 177,508 | |
| | |
WARRANTS — 0.0% | | | | | | | | |
Canada — 0.0% | | | | | | | | |
Constellation Software, Inc.* (d), expires 8/22/28 | | | | | | | | |
| | |
(Cost $0) | | | 38 | | | | 0 | |
| | |
SECURITIES LENDING COLLATERAL — 0.5% | | | | | | | | |
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (e)(f) | | | | | | | | |
| | |
(Cost $302,690) | | | 302,690 | | | | 302,690 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
CASH EQUIVALENTS — 0.1% | | | | | | | | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (e) | | | | | | | | |
| | |
(Cost $59,667) | | | 59,667 | | | | 59,667 | |
| | |
TOTAL INVESTMENTS — 99.9% | | | | | | | | |
| | |
(Cost $48,348,934) | | | | | | | 55,756,456 | |
Other assets and liabilities, net — 0.1% | | | | | | | 54,184 | |
| | |
NET ASSETS — 100.0% | | | | | | | 55,810,640 | |
See Notes to Financial Statements.
DBX ETF Trust | 15
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
August 31, 2024
A summary of the Fund’s transactions with affiliated investments during the year ended August 31, 2024 is as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Value ($) at 8/31/2023 | | | Purchases Cost ($) | | | Sales Proceeds ($) | | | Net Realized Gain/(Loss) ($) | | | Net Change in Unrealized Appreciation (Depreciation) ($) | | | Income ($) | | | Capital Gain Distributions ($) | | | Number of Shares at 8/31/2024 | | | Value ($) at 8/31/2024 | |
| | COMMON STOCKS — 0.0% | | | | | | | | | | | | | | | | | |
| | Germany — 0.0% | |
| | Deutsche Bank AG (b) | |
| | 5,858 | | | | 7,803 | | | | (11,942) | | | | 3,433 | | | | 1,394 | | | | 207 | | | | — | | | | 401 | | | | 6,546 | |
| | | |
| | DWS Group GmbH & Co. KGaA, 144A (b) | | | | | | | | | | | | | |
| | — | | | | 29,975 | | | | (29,752) | | | | 4,614 | | | | 111 | | | | 871 | | | | — | | | | 128 | | | | 4,948 | |
| | | | | | |
| | SECURITIES LENDING COLLATERAL — 0.5% | | | | | | | | | | | | | | | | | | | | | | | | | |
| | DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (e)(f) | |
| | — | | | | 302,690 (g) | | | | — | | | | — | | | | — | | | | 636 | | | | — | | | | 302,690 | | | | 302,690 | |
| | | |
| | CASH EQUIVALENTS — 0.1% | | | | | | | | | | | | | |
| | DWS Government Money Market Series “Institutional Shares”, 5.24% (e) | |
| | 24,747 | | | | 3,648,721 | | | | (3,613,801) | | | | — | | | | — | | | | 4,471 | | | | — | | | | 59,667 | | | | 59,667 | |
| | | | | | | | | |
| | 30,605 | | | | 3,989,189 | | | | (3,655,495) | | | | 8,047 | | | | 1,505 | | | | 6,185 | | | | — | | | | 362,886 | | | | 373,851 | |
| * | 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) | Affiliated issuer. This security is owned in proportion with its representation in the index. |
| (c) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at August 31, 2024 amounted to $286,098, which is 0.5% of net assets. |
| (d) | Investment was valued using significant unobservable inputs. |
| (e) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
| (f) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. |
| (g) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the year ended August 31, 2024. |
| | |
| CDI: | | Chess Depositary Interests |
| REIT: | | Real Estate Investment Trust |
| RSP: | | Risparmio (Convertible Savings Shares) |
| 144A: | | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
Securities are listed in country of domicile.
At August 31, 2024, open futures contracts purchased were as follows:
| | | | | | | | | | | | | | | | | | | | | | |
| Contract Description | | Currency | | | Number of Contracts | | | Notional Amount ($) | | | Contract Value ($) | | | Expiration Date | | Unrealized Appreciation (Depreciation) ($) | |
Micro EURO STOXX 50 Futures | | | EUR | | | | 2 | | | | 10,926 | | | | 11,005 | | | 9/20/2024 | | | 79 | |
MINI TOPIX Index Futures | | | JPY | | | | 1 | | | | 18,835 | | | | 18,650 | | | 9/12/2024 | | | (185) | |
MSCI EAFE Futures | | | USD | | | | 3 | | | | 356,520 | | | | 368,775 | | | 9/20/2024 | | | 12,255 | |
| | | | | | | |
Total net unrealized appreciation | | | | | | | | | | | | | | | | | | | | | 12,149 | |
For information on the Fund’s policy and additional disclosures regarding futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
See Notes to Financial Statements.
16 | DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF (Continued)
August 31, 2024
| | |
| Currency Abbreviations |
| |
| EUR | | Euro |
| JPY | | Japanese Yen |
| USD | | U.S. Dollar |
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of August 31, 2024 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
| | | | | | | | | | | | | | | | |
| Assets | | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
Common Stocks (a) | | $ | 55,216,591 | | | $ | — | | | $ | 0 | | | $ | 55,216,591 | |
Preferred Stocks (a) | | | 177,508 | | | | — | | | | — | | | | 177,508 | |
Warrants | | | — | | | | — | | | | 0 | | | | 0 | |
Short-Term Investments (a) | | | 362,357 | | | | — | | | | — | | | | 362,357 | |
Derivatives (b) | | | | | | | | | | | | | | | | |
Futures Contracts | | | 12,334 | | | | — | | | | — | | | | 12,334 | |
| | | | | |
TOTAL | | $ | 55,768,790 | | | $ | — | | | $ | 0 | | | $ | 55,768,790 | |
| | | | |
| Liabilities | | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
Derivatives (b) | | | | | | | | | | | | | | | | |
Futures Contracts | | $ | (185 | ) | | $ | — | | | $ | — | | | $ | (185 | ) |
| | | | | |
TOTAL | | $ | (185 | ) | | $ | — | | | $ | — | | | $ | (185 | ) |
| (a) | See Schedule of Investments for additional detailed categorizations. |
| (b) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
During the year ended August 31, 2024, the amount of transfers from Level 3 to Level 1 was $64,772. The investment was transferred from Level 3 to Level 1 due to the availability of a pricing source supported by observable inputs. Transfers between price levels are recognized at the beginning of the reporting period.
See Notes to Financial Statements.
DBX ETF Trust | 17
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
| | |
COMMON STOCKS — 99.4% | | | | | | | | |
Australia — 2.0% | | | | | | | | |
Ampol Ltd. | | | 2,107 | | | | 41,358 | |
ANZ Group Holdings Ltd. | | | 26,886 | | | | 554,562 | |
APA Group (a) | | | 14,227 | | | | 73,266 | |
Aristocrat Leisure Ltd. | | | 5,908 | | | | 219,309 | |
ASX Ltd. | | | 1,893 | | | | 78,631 | |
Atlassian Corp., Class A * | | | 1,397 | | | | 231,343 | |
BHP Group Ltd. | | | 46,786 | | | | 1,294,215 | |
BlueScope Steel Ltd. | | | 4,467 | | | | 62,618 | |
Brambles Ltd. | | | 12,891 | | | | 159,450 | |
CAR Group Ltd. | | | 3,289 | | | | 84,488 | |
Cochlear Ltd. | | | 686 | | | | 139,808 | |
Coles Group Ltd. | | | 11,431 | | | | 145,734 | |
Commonwealth Bank of Australia | | | 15,388 | | | | 1,456,486 | |
Computershare Ltd. | | | 4,924 | | | | 94,983 | |
CSL Ltd. | | | 4,462 | | | | 929,917 | |
Dexus REIT | | | 10,341 | | | | 50,658 | |
Endeavour Group Ltd. | | | 11,936 | | | | 43,246 | |
Fortescue Ltd. | | | 15,557 | | | | 192,848 | |
Goodman Group REIT | | | 16,149 | | | | 365,967 | |
GPT Group REIT | | | 19,187 | | | | 64,050 | |
Insurance Australia Group Ltd. | | | 21,077 | | | | 107,971 | |
Lottery Corp. Ltd. | | | 24,184 | | | | 81,880 | |
Macquarie Group Ltd. | | | 3,570 | | | | 522,357 | |
Medibank Pvt Ltd. | | | 26,766 | | | | 70,100 | |
Mineral Resources Ltd. | | | 1,658 | | | | 45,167 | |
Mirvac Group REIT | | | 38,021 | | | | 52,626 | |
National Australia Bank Ltd. | | | 29,248 | | | | 757,475 | |
Northern Star Resources Ltd. | | | 10,166 | | | | 105,258 | |
Orica Ltd. | | | 4,450 | | | | 53,623 | |
Origin Energy Ltd. | | | 17,125 | | | | 115,728 | |
Pilbara Minerals Ltd. (b) | | | 22,759 | | | | 45,863 | |
Pro Medicus Ltd. | | | 678 | | | | 69,326 | |
Qantas Airways Ltd. * | | | 7,205 | | | | 32,802 | |
QBE Insurance Group Ltd. | | | 13,750 | | | | 147,311 | |
Ramsay Health Care Ltd. | | | 1,768 | | | | 49,843 | |
REA Group Ltd. | | | 544 | | | | 80,834 | |
Reece Ltd. | | | 1,125 | | | | 20,869 | |
Rio Tinto Ltd. | | | 3,432 | | | | 259,757 | |
Santos Ltd. | | | 30,444 | | | | 149,138 | |
Scentre Group REIT | | | 44,396 | | | | 103,622 | |
SEEK Ltd. | | | 3,140 | | | | 49,108 | |
Seven Group Holdings Ltd. | | | 1,590 | | | | 44,318 | |
Sonic Healthcare Ltd. | | | 4,494 | | | | 84,401 | |
South32 Ltd. | | | 37,599 | | | | 80,104 | |
Stockland REIT | | | 25,628 | | | | 87,291 | |
Suncorp Group Ltd. | | | 11,401 | | | | 136,688 | |
Telstra Group Ltd. | | | 32,790 | | | | 87,435 | |
Transurban Group (a) | | | 28,929 | | | | 265,964 | |
Treasury Wine Estates Ltd. | | | 7,764 | | | | 60,212 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
| | |
Vicinity Ltd. REIT | | | 44,306 | | | | 66,737 | |
Washington H Soul Pattinson & Co. Ltd. | | | 1,944 | | | | 45,506 | |
Wesfarmers Ltd. | | | 10,248 | | | | 504,807 | |
Westpac Banking Corp. | | | 31,664 | | | | 671,161 | |
WiseTech Global Ltd. | | | 1,542 | | | | 124,367 | |
Woodside Energy Group Ltd. | | | 17,294 | | | | 319,047 | |
Woolworths Group Ltd. | | | 10,966 | | | | 265,475 | |
| | |
(Cost $11,051,971) | | | | | | | 12,047,108 | |
| | |
Austria — 0.0% | | | | | | | | |
Erste Group Bank AG | | | 3,094 | | | | 169,559 | |
OMV AG | | | 1,614 | | | | 70,354 | |
Verbund AG | | | 509 | | | | 43,467 | |
voestalpine AG | | | 978 | | | | 23,903 | |
| | |
(Cost $263,052) | | | | | | | 307,283 | |
| | |
Belgium — 0.2% | | | | | | | | |
Ageas SA/NV | | | 1,337 | | | | 68,846 | |
Anheuser-Busch InBev SA/NV | | | 8,309 | | | | 508,607 | |
D’ieteren Group | | | 265 | | | | 64,239 | |
Elia Group SA/NV | | | 273 | | | | 29,946 | |
Groupe Bruxelles Lambert NV | | | 764 | | | | 58,986 | |
KBC Group NV | | | 2,284 | | | | 177,831 | |
Lotus Bakeries NV | | | 4 | | | | 50,386 | |
Sofina SA | | | 121 | | | | 29,466 | |
Syensqo SA | | | 712 | | | | 58,636 | |
UCB SA | | | 1,233 | | | | 223,419 | |
Warehouses De Pauw CVA REIT | | | 1,415 | | | | 37,809 | |
| | |
(Cost $1,218,460) | | | | | | | 1,308,171 | |
| | |
Bermuda — 0.1% | | | | | | | | |
Arch Capital Group Ltd. * | | | 3,413 | | | | 385,976 | |
Everest Group Ltd. | | | 374 | | | | 146,698 | |
| | |
(Cost $254,661) | | | | | | | 532,674 | |
| | |
Canada — 3.3% | | | | | | | | |
Agnico Eagle Mines Limited/ Mines Agnico Eagle Limitee | | | 4,478 | | | | 364,819 | |
Air Canada * | | | 1,327 | | | | 15,202 | |
Alimentation Couche-Tard, Inc. | | | 6,921 | | | | 395,053 | |
AltaGas Ltd. | | | 3,275 | | | | 83,883 | |
ARC Resources Ltd. | | | 6,237 | | | | 115,415 | |
Bank of Montreal | | | 6,872 | | | | 574,694 | |
Bank of Nova Scotia | | | 11,533 | | | | 575,645 | |
Barrick Gold Corp. | | | 16,592 | | | | 334,979 | |
BCE, Inc. | | | 666 | | | | 23,329 | |
Brookfield Asset Management Ltd., Class A | | | 3,228 | | | | 131,587 | |
Brookfield Corp. | | | 12,814 | | | | 644,622 | |
BRP, Inc. | | | 298 | | | | 21,611 | |
CAE, Inc. * | | | 2,555 | | | | 45,707 | |
Cameco Corp. | | | 3,731 | | | | 152,230 | |
Canadian Apartment Properties REIT | | | 744 | | | | 28,915 | |
See Notes to Financial Statements.
18 | DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Canadian Imperial Bank of Commerce | | | 8,418 | | | | 491,932 | |
Canadian National Railway Co. | | | 5,104 | | | | 601,346 | |
Canadian Natural Resources Ltd. | | | 19,554 | | | | 707,731 | |
Canadian Pacific Kansas City Ltd. | | | 8,868 | | | | 736,088 | |
Canadian Tire Corp. Ltd., Class A | | | 554 | | | | 63,155 | |
Canadian Utilities Ltd., Class A | | | 1,172 | | | | 29,566 | |
CCL Industries, Inc., Class B | | | 1,347 | | | | 77,007 | |
Cenovus Energy, Inc. | | | 12,613 | | | | 233,871 | |
CGI, Inc. * | | | 2,005 | | | | 225,872 | |
Constellation Software, Inc. | | | 195 | | | | 636,717 | |
Descartes Systems Group, Inc. * | | | 751 | | | | 75,721 | |
Dollarama, Inc. | | | 2,430 | | | | 246,110 | |
Element Fleet Management Corp. | | | 3,282 | | | | 68,063 | |
Emera, Inc. | | | 2,453 | | | | 92,369 | |
Empire Co. Ltd., Class A | | | 1,217 | | | | 33,934 | |
Enbridge, Inc. | | | 20,146 | | | | 810,474 | |
Fairfax Financial Holdings Ltd. | | | 172 | | | | 207,633 | |
First Quantum Minerals Ltd. * | | | 5,286 | | | | 66,558 | |
FirstService Corp. | | | 373 | | | | 67,233 | |
Fortis, Inc. | | | 4,541 | | | | 199,801 | |
Franco-Nevada Corp. | | | 1,753 | | | | 214,041 | |
George Weston Ltd. | | | 718 | | | | 116,771 | |
GFL Environmental, Inc. | | | 2,480 | | | | 107,462 | |
Gildan Activewear, Inc. | | | 1,943 | | | | 88,547 | |
Great-West Lifeco, Inc. | | | 2,208 | | | | 72,576 | |
Hydro One Ltd., 144A | | | 3,160 | | | | 107,408 | |
iA Financial Corp., Inc. | | | 931 | | | | 71,551 | |
IGM Financial, Inc. | | | 1,049 | | | | 30,884 | |
Imperial Oil Ltd. | | | 2,035 | | | | 153,257 | |
Intact Financial Corp. | | | 1,582 | | | | 297,713 | |
Ivanhoe Mines Ltd., Class A * | | | 5,479 | | | | 73,053 | |
Keyera Corp. | | | 1,855 | | | | 55,564 | |
Kinross Gold Corp. | | | 12,211 | | | | 110,354 | |
Loblaw Cos. Ltd. | | | 1,483 | | | | 193,530 | |
Lululemon Athletica, Inc. * | | | 1,045 | | | | 271,146 | |
Lundin Mining Corp. | | | 5,494 | | | | 56,988 | |
Magna International, Inc. | | | 2,466 | | | | 103,635 | |
Manulife Financial Corp. | | | 15,827 | | | | 436,967 | |
MEG Energy Corp. * | | | 2,369 | | | | 47,178 | |
Metro, Inc. | | | 1,948 | | | | 122,365 | |
National Bank of Canada | | | 3,070 | | | | 281,294 | |
Nutrien Ltd. | | | 4,667 | | | | 226,018 | |
Onex Corp. | | | 627 | | | | 44,298 | |
Open Text Corp. | | | 2,196 | | | | 69,868 | |
Pan American Silver Corp. | | | 3,417 | | | | 69,012 | |
Parkland Corp. | | | 1,589 | | | | 42,998 | |
Pembina Pipeline Corp. | | | 6,121 | | | | 246,566 | |
Power Corp. of Canada | | | 5,351 | | | | 164,252 | |
Quebecor, Inc., Class B | | | 1,365 | | | | 33,898 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Restaurant Brands International, Inc. | | | 2,612 | | | | 181,459 | |
Rogers Communications, Inc., Class B | | | 3,484 | | | | 141,221 | |
Royal Bank of Canada | | | 12,779 | | | | 1,545,332 | |
Saputo, Inc. | | | 2,099 | | | | 46,676 | |
Shopify, Inc., Class A * | | | 10,999 | | | | 814,550 | |
Stantec, Inc. | | | 999 | | | | 81,810 | |
Sun Life Financial, Inc. | | | 5,291 | | | | 288,390 | |
Suncor Energy, Inc. | | | 12,240 | | | | 496,411 | |
TC Energy Corp. | | | 9,125 | | | | 422,617 | |
Teck Resources Ltd., Class B | | | 4,434 | | | | 212,299 | |
TELUS Corp. | | | 4,290 | | | | 69,296 | |
TFI International, Inc. | | | 731 | | | | 108,179 | |
Thomson Reuters Corp. | | | 1,436 | | | | 245,934 | |
TMX Group Ltd. | | | 2,750 | | | | 87,718 | |
Toromont Industries Ltd. | | | 770 | | | | 68,942 | |
Toronto-Dominion Bank | | | 16,048 | | | | 961,511 | |
Tourmaline Oil Corp. | | | 2,860 | | | | 130,337 | |
Waste Connections, Inc. | | | 2,309 | | | | 430,629 | |
West Fraser Timber Co. Ltd. | | | 368 | | | | 32,561 | |
Wheaton Precious Metals Corp. | | | 4,059 | | | | 250,843 | |
WSP Global, Inc. | | | 1,179 | | | | 196,531 | |
| | |
(Cost $17,226,921) | | | | | | | 19,901,312 | |
| | |
Chile — 0.0% | | | | | | | | |
Antofagasta PLC | | | | | | | | |
| | |
(Cost $71,396) | | | 3,586 | | | | 87,330 | |
| | |
Denmark — 1.0% | | | | | | | | |
A.P. Moller — Maersk A/S, Class A | | | 16 | | | | 23,257 | |
A.P. Moller — Maersk A/S, Class B | | | 55 | | | | 82,150 | |
Carlsberg AS, Class B | | | 858 | | | | 100,842 | |
Coloplast A/S, Class B | | | 1,075 | | | | 146,798 | |
Danske Bank A/S | | | 6,856 | | | | 214,269 | |
Demant A/S * | | | 783 | | | | 33,186 | |
DSV A/S | | | 1,721 | | | | 307,750 | |
Genmab A/S * | | | 559 | | | | 155,416 | |
Novo Nordisk A/S, Class B | | | 30,218 | | | | 4,206,735 | |
Novonesis (Novozymes) B, Class B | | | 3,447 | | | | 239,396 | |
Orsted AS, 144A * | | | 1,761 | | | | 102,076 | |
Pandora A/S | | | 767 | | | | 134,424 | |
ROCKWOOL A/S, Class B | | | 134 | | | | 58,145 | |
Tryg A/S | | | 3,292 | | | | 73,475 | |
Vestas Wind Systems A/S * | | | 9,282 | | | | 213,365 | |
Zealand Pharma A/S * | | | 590 | | | | 77,618 | |
| | |
(Cost $3,517,074) | | | | | | | 6,168,902 | |
| | |
Finland — 0.3% | | | | | | | | |
Elisa OYJ | | | 1,075 | | | | 53,808 | |
Fortum OYJ | | | 4,280 | | | | 68,505 | |
Kesko OYJ, Class B | | | 2,074 | | | | 42,161 | |
See Notes to Financial Statements.
DBX ETF Trust | 19
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Kone OYJ, Class B | | | 3,070 | | | | 165,831 | |
Metso Corp. | | | 6,400 | | | | 65,033 | |
Neste OYJ | | | 3,838 | | | | 89,851 | |
Nokia OYJ | | | 50,894 | | | | 224,099 | |
Nordea Bank Abp | | | 28,256 | | | | 334,034 | |
Orion OYJ, Class B | | | 1,058 | | | | 56,178 | |
Sampo OYJ, Class A | | | 4,345 | | | | 194,351 | |
Stora Enso OYJ, Class R | | | 6,559 | | | | 84,907 | |
UPM-Kymmene OYJ | | | 5,088 | | | | 172,224 | |
Wartsila OYJ Abp | | | 4,334 | | | | 96,042 | |
| | |
(Cost $1,906,353) | | | | | | | 1,647,024 | |
| | |
France — 3.0% | | | | | | | | |
Accor SA | | | 1,748 | | | | 73,660 | |
Aeroports de Paris SA | | | 276 | | | | 36,202 | |
Air Liquide SA | | | 5,442 | | | | 1,016,328 | |
Airbus SE | | | 5,583 | | | | 857,883 | |
Alstom SA * | | | 3,684 | | | | 75,338 | |
Amundi SA, 144A | | | 840 | | | | 63,226 | |
Arkema SA | | | 556 | | | | 51,789 | |
AXA SA | | | 17,043 | | | | 648,953 | |
BioMerieux | | | 454 | | | | 52,615 | |
BNP Paribas SA | | | 9,464 | | | | 655,570 | |
Bollore SE | | | 8,600 | | | | 56,688 | |
Bouygues SA | | | 1,496 | | | | 53,668 | |
Bureau Veritas SA | | | 2,969 | | | | 98,066 | |
Capgemini SE | | | 1,468 | | | | 304,674 | |
Carrefour SA | | | 4,808 | | | | 77,594 | |
Cie de Saint-Gobain SA | | | 4,074 | | | | 356,612 | |
Cie Generale des Etablissements Michelin SCA | | | 6,567 | | | | 258,123 | |
Covivio SA REIT | | | 657 | | | | 36,653 | |
Credit Agricole SA | | | 10,406 | | | | 163,043 | |
Danone SA | | | 5,998 | | | | 416,941 | |
Dassault Aviation SA | | | 202 | | | | 43,556 | |
Dassault Systemes SE | | | 5,978 | | | | 233,450 | |
Edenred SE | | | 2,225 | | | | 94,106 | |
Eiffage SA | | | 759 | | | | 79,645 | |
Engie SA | | | 16,306 | | | | 287,522 | |
EssilorLuxottica SA | | | 2,721 | | | | 645,144 | |
Eurazeo SE | | | 403 | | | | 31,806 | |
Gecina SA REIT | | | 467 | | | | 51,434 | |
Getlink SE | | | 3,018 | | | | 54,502 | |
Hermes International SCA | | | 285 | | | | 684,247 | |
Ipsen SA | | | 294 | | | | 35,700 | |
Kering SA | | | 689 | | | | 197,528 | |
Klepierre SA REIT | | | 1,589 | | | | 47,595 | |
La Francaise des Jeux SAEM, 144A | | | 750 | | | | 30,617 | |
Legrand SA | | | 2,351 | | | | 263,355 | |
L’Oreal SA | | | 2,211 | | | | 970,622 | |
LVMH Moet Hennessy Louis Vuitton SE | | | 2,543 | | | | 1,898,052 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Orange SA | | | 18,552 | | | | 211,513 | |
Pernod Ricard SA | | | 1,865 | | | | 265,891 | |
Publicis Groupe SA | | | 2,086 | | | | 229,560 | |
Renault SA | | | 1,724 | | | | 81,961 | |
Rexel SA | | | 1,844 | | | | 46,619 | |
Safran SA | | | 3,217 | | | | 704,880 | |
Sanofi SA | | | 10,724 | | | | 1,201,285 | |
Sartorius Stedim Biotech | | | 273 | | | | 55,602 | |
Schneider Electric SE | | | 5,112 | | | | 1,299,752 | |
SEB SA | | | 129 | | | | 13,508 | |
Societe Generale SA | | | 7,104 | | | | 171,658 | |
Sodexo SA | | | 878 | | | | 78,235 | |
Teleperformance SE | | | 555 | | | | 60,733 | |
Thales SA | | | 921 | | | | 154,957 | |
TotalEnergies SE | | | 19,679 | | | | 1,354,666 | |
Unibail-Rodamco-Westfield REIT * | | | 1,074 | | | | 86,141 | |
Veolia Environnement SA | | | 6,310 | | | | 209,117 | |
Vinci SA | | | 4,774 | | | | 571,502 | |
Vivendi SE | | | 6,428 | | | | 72,183 | |
| | |
(Cost $14,653,372) | | | | | | | 17,872,270 | |
| | |
Germany — 2.3% | | | | | | | | |
adidas AG | | | 1,518 | | | | 389,824 | |
Allianz SE | | | 3,622 | | | | 1,126,182 | |
BASF SE | | | 8,322 | | | | 422,353 | |
Bayer AG | | | 8,996 | | | | 277,471 | |
Bayerische Motoren Werke AG | | | 3,070 | | | | 284,836 | |
Bechtle AG | | | 652 | | | | 28,103 | |
Beiersdorf AG | | | 873 | | | | 126,347 | |
Brenntag SE | | | 1,220 | | | | 90,775 | |
Carl Zeiss Meditec AG | | | 371 | | | | 27,247 | |
Commerzbank AG | | | 9,645 | | | | 142,846 | |
Continental AG | | | 956 | | | | 64,635 | |
Covestro AG, 144A * | | | 1,758 | | | | 107,805 | |
CTS Eventim AG & Co. KGaA | | | 685 | | | | 64,373 | |
Daimler Truck Holding AG | | | 4,682 | | | | 179,626 | |
Delivery Hero SE, 144A * | | | 1,358 | | | | 42,825 | |
Deutsche Bank AG (c) | | | 18,324 | | | | 299,132 | |
Deutsche Boerse AG | | | 1,711 | | | | 384,274 | |
Deutsche Lufthansa AG | | | 5,090 | | | | 33,174 | |
Deutsche Post AG | | | 9,118 | | | | 395,635 | |
Deutsche Telekom AG | | | 32,233 | | | | 917,300 | |
E.ON SE | | | 21,337 | | | | 302,546 | |
Evonik Industries AG | | | 1,910 | | | | 42,389 | |
Fresenius Medical Care AG | | | 1,769 | | | | 68,260 | |
Fresenius SE & Co. KGaA * | | | 3,651 | | | | 134,858 | |
GEA Group AG | | | 1,418 | | | | 66,550 | |
Hannover Rueck SE | | | 500 | | | | 141,849 | |
Heidelberg Materials AG | | | 1,342 | | | | 142,099 | |
Henkel AG & Co. KGaA | | | 978 | | | | 81,353 | |
Infineon Technologies AG | | | 11,990 | | | | 437,967 | |
See Notes to Financial Statements.
20 | DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Knorr-Bremse AG | | | 547 | | | | 45,017 | |
LEG Immobilien SE | | | 594 | | | | 57,242 | |
Mercedes-Benz Group AG | | | 7,521 | | | | 518,980 | |
Merck KGaA | | | 1,161 | | | | 225,987 | |
MTU Aero Engines AG | | | 543 | | | | 162,283 | |
Muenchener Rueckversicherungs- Gesellschaft AG in Muenchen | | | 1,236 | | | | 669,426 | |
Nemetschek SE | | | 489 | | | | 51,015 | |
Puma SE | | | 979 | | | | 42,360 | |
Rational AG | | | 34 | | | | 34,304 | |
Rheinmetall AG | | | 403 | | | | 241,776 | |
RWE AG | | | 5,870 | | | | 212,014 | |
SAP SE | | | 9,657 | | | | 2,113,496 | |
Scout24 SE, 144A | | | 486 | | | | 37,173 | |
Siemens AG | | | 6,947 | | | | 1,306,623 | |
Siemens Energy AG * | | | 6,507 | | | | 187,628 | |
Siemens Healthineers AG, 144A | | | 2,557 | | | | 148,819 | |
Symrise AG | | | 1,233 | | | | 162,480 | |
Talanx AG | | | 686 | | | | 59,114 | |
Vonovia SE | | | 7,033 | | | | 242,731 | |
Zalando SE, 144A * | | | 1,862 | | | | 48,311 | |
| | |
(Cost $11,952,667) | | | | | | | 13,389,413 | |
| | |
Hong Kong — 0.5% | | | | | | | | |
AIA Group Ltd. | | | 104,199 | | | | 740,710 | |
BOC Hong Kong Holdings Ltd. | | | 31,225 | | | | 98,474 | |
CK Asset Holdings Ltd. | | | 18,596 | | | | 75,215 | |
CK Hutchison Holdings Ltd. | | | 24,031 | | | | 132,626 | |
CK Infrastructure Holdings Ltd. | | | 5,757 | | | | 42,732 | |
CLP Holdings Ltd. | | | 14,747 | | | | 132,149 | |
Futu Holdings Ltd., ADR * | | | 562 | | | | 35,721 | |
Galaxy Entertainment Group Ltd. | | | 18,443 | | | | 71,404 | |
Hang Seng Bank Ltd. | | | 6,213 | | | | 75,110 | |
Henderson Land Development Co. Ltd. | | | 15,433 | | | | 48,077 | |
HKT Trust & HKT Ltd. (a) | | | 28,261 | | | | 35,904 | |
Hong Kong & China Gas Co. Ltd. | | | 89,362 | | | | 72,746 | |
Hong Kong Exchanges & Clearing Ltd. | | | 11,198 | | | | 345,110 | |
Hongkong Land Holdings Ltd. | | | 12,100 | | | | 45,375 | |
Jardine Matheson Holdings Ltd. | | | 1,651 | | | | 59,502 | |
Link REIT | | | 20,475 | | | | 96,858 | |
MTR Corp. Ltd. | | | 15,343 | | | | 54,189 | |
Power Assets Holdings Ltd. | | | 12,765 | | | | 89,105 | |
Prudential PLC | | | 24,834 | | | | 212,800 | |
Sino Land Co. Ltd. | | | 35,334 | | | | 37,869 | |
SITC International Holdings Co. Ltd. | | | 13,497 | | | | 31,734 | |
Sun Hung Kai Properties Ltd. | | | 12,971 | | | | 127,126 | |
Swire Pacific Ltd., Class A | | | 2,887 | | | | 24,501 | |
Techtronic Industries Co. Ltd. | | | 12,799 | | | | 172,449 | |
WH Group Ltd., 144A | | | 96,062 | | | | 69,949 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Wharf Holdings Ltd. | | | 9,153 | | | | 24,055 | |
Wharf Real Estate Investment Co. Ltd. | | | 12,375 | | | | 36,092 | |
| | |
(Cost $4,276,136) | | | | | | | 2,987,582 | |
| | |
Ireland — 1.0% | | | | | | | | |
Accenture PLC, Class A | | | 5,788 | | | | 1,979,207 | |
AerCap Holdings NV | | | 1,825 | | | | 177,792 | |
AIB Group PLC | | | 14,307 | | | | 86,229 | |
Allegion PLC | | | 831 | | | | 115,376 | |
Aptiv PLC * | | | 2,491 | | | | 178,181 | |
Bank of Ireland Group PLC | | | 9,318 | | | | 106,957 | |
DCC PLC | | | 983 | | | | 69,182 | |
Experian PLC | | | 8,065 | | | | 390,483 | |
Flutter Entertainment PLC * | | | 1,619 | | | | 344,699 | |
James Hardie Industries PLC CDI * | | | 3,749 | | | | 140,107 | |
Kerry Group PLC, Class A | | | 1,592 | | | | 160,007 | |
Kingspan Group PLC | | | 1,426 | | | | 124,223 | |
Medtronic PLC | | | 12,453 | | | | 1,103,087 | |
Smurfit WestRock PLC | | | 2,369 | | | | 112,338 | |
Smurfit WestRock PLC | | | 1,876 | | | | 88,537 | |
Trane Technologies PLC | | | 2,087 | | | | 754,784 | |
| | |
(Cost $5,247,345) | | | | | | | 5,931,189 | |
| | |
Israel — 0.2% | | | | | | | | |
Azrieli Group Ltd. | | | 461 | | | | 31,390 | |
Bank Hapoalim BM | | | 11,476 | | | | 114,143 | |
Bank Leumi Le-Israel BM | | | 12,606 | | | | 121,351 | |
Check Point Software Technologies Ltd. * | | | 884 | | | | 170,170 | |
CyberArk Software Ltd. * | | | 396 | | | | 113,549 | |
Elbit Systems Ltd. | | | 273 | | | | 56,211 | |
Global-e Online Ltd. * | | | 835 | | | | 28,741 | |
ICL Group Ltd. | | | 6,595 | | | | 30,016 | |
Israel Discount Bank Ltd., Class A | | | 10,724 | | | | 59,333 | |
Mizrahi Tefahot Bank Ltd. | | | 1,482 | | | | 56,584 | |
Monday.com Ltd. * | | | 353 | | | | 93,859 | |
Nice Ltd. * | | | 620 | | | | 110,720 | |
Teva Pharmaceutical Industries Ltd., ADR * | | | 10,491 | | | | 197,965 | |
Wix.com Ltd. * | | | 544 | | | | 90,641 | |
| | |
(Cost $1,066,177) | | | | | | | 1,274,673 | |
| | |
Italy — 0.7% | | | | | | | | |
Amplifon SpA | | | 1,075 | | | | 34,662 | |
Banco BPM SpA | | | 10,862 | | | | 73,870 | |
Davide Campari-Milano NV | | | 5,778 | | | | 53,365 | |
DiaSorin SpA | | | 193 | | | | 22,218 | |
Enel SpA | | | 73,753 | | | | 560,358 | |
Eni SpA | | | 20,528 | | | | 333,429 | |
Ferrari NV | | | 1,171 | | | | 579,652 | |
FinecoBank Banca Fineco SpA | | | 5,701 | | | | 97,465 | |
Generali | | | 9,953 | | | | 274,103 | |
See Notes to Financial Statements.
DBX ETF Trust | 21
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Infrastrutture Wireless Italiane SpA, 144A | | | 2,466 | | | | 29,534 | |
Intesa Sanpaolo SpA | | | 129,820 | | | | 540,951 | |
Leonardo SpA | | | 3,210 | | | | 81,580 | |
Mediobanca Banca di Credito Finanziario SpA | | | 4,850 | | | | 82,057 | |
Moncler SpA | | | 1,853 | | | | 113,671 | |
Nexi SpA, 144A * | | | 5,823 | | | | 40,697 | |
Poste Italiane SpA, 144A | | | 3,313 | | | | 46,023 | |
Prysmian SpA | | | 2,556 | | | | 179,374 | |
Recordati Industria Chimica e Farmaceutica SpA | | | 1,143 | | | | 67,055 | |
Snam SpA | | | 18,239 | | | | 90,506 | |
Telecom Italia SpA * | | | 129,727 | | | | 34,348 | |
Terna - Rete Elettrica Nazionale | | | 11,069 | | | | 96,327 | |
UniCredit SpA | | | 13,331 | | | | 551,583 | |
| | |
(Cost $2,722,768) | | | | | | | 3,982,828 | |
| | |
Jordan — 0.0% | | | | | | | | |
Hikma Pharmaceuticals PLC | | | | | | | | |
| | |
(Cost $56,610) | | | 1,753 | | | | 45,686 | |
| | |
Luxembourg — 0.0% | | | | | | | | |
ArcelorMittal SA | | | 4,496 | | | | 105,355 | |
Eurofins Scientific SE | | | 1,243 | | | | 71,050 | |
Tenaris SA | | | 4,252 | | | | 62,009 | |
| | |
(Cost $273,542) | | | | | | | 238,414 | |
| | |
Macau — 0.0% | | | | | | | | |
Sands China Ltd. * | | | | | | | | |
| | |
(Cost $88,408) | | | 22,845 | | | | 41,705 | |
| | |
Netherlands — 1.5% | | | | | | | | |
ABN AMRO Bank NV, 144A | | | 4,254 | | | | 72,939 | |
Adyen NV, 144A * | | | 209 | | | | 307,454 | |
Aegon Ltd. | | | 9,299 | | | | 56,859 | |
Akzo Nobel NV | | | 1,679 | | | | 107,235 | |
Argenx SE * | | | 547 | | | | 283,423 | |
ASM International NV | | | 463 | | | | 313,134 | |
ASML Holding NV | | | 3,689 | | | | 3,315,685 | |
ASR Nederland NV | | | 1,328 | | | | 65,046 | |
BE Semiconductor Industries NV | | | 707 | | | | 92,188 | |
Euronext NV, 144A | | | 804 | | | | 85,969 | |
EXOR NV | | | 749 | | | | 83,404 | |
Ferrovial SE | | | 4,597 | | | | 192,037 | |
Heineken Holding NV | | | 1,200 | | | | 90,390 | |
Heineken NV | | | 2,525 | | | | 227,675 | |
IMCD NV | | | 568 | | | | 92,925 | |
ING Groep NV | | | 30,316 | | | | 550,130 | |
JDE Peet’s NV | | | 640 | | | | 14,678 | |
Koninklijke Ahold Delhaize NV | | | 8,653 | | | | 297,493 | |
Koninklijke KPN NV | | | 32,244 | | | | 131,807 | |
Koninklijke Philips NV * | | | 7,472 | | | | 225,047 | |
NN Group NV | | | 2,937 | | | | 143,985 | |
NXP Semiconductors NV | | | 2,304 | | | | 590,653 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
OCI NV | | | 907 | | | | 28,723 | |
Prosus NV * | | | 13,206 | | | | 490,132 | |
QIAGEN NV * | | | 2,006 | | | | 92,082 | |
Randstad NV | | | 1,241 | | | | 59,823 | |
Stellantis NV | | | 19,800 | | | | 331,774 | |
Universal Music Group NV | | | 7,466 | | | | 195,281 | |
Wolters Kluwer NV | | | 2,298 | | | | 392,105 | |
| | |
(Cost $6,610,556) | | | | | | | 8,930,076 | |
| | |
New Zealand — 0.1% | | | | | | | | |
Auckland International Airport Ltd. | | | 11,200 | | | | 53,150 | |
Fisher & Paykel Healthcare Corp. Ltd. | | | 4,784 | | | | 106,555 | |
Mercury NZ Ltd. | | | 6,206 | | | | 24,267 | |
Meridian Energy Ltd. | | | 11,666 | | | | 46,275 | |
Spark New Zealand Ltd. | | | 19,280 | | | | 43,304 | |
Xero Ltd. * | | | 1,325 | | | | 128,415 | |
| | |
(Cost $407,353) | | | | | | | 401,966 | |
| | |
Norway — 0.1% | | | | | | | | |
Aker BP ASA | | | 2,767 | | | | 66,326 | |
DNB Bank ASA | | | 8,327 | | | | 176,175 | |
Equinor ASA | | | 8,516 | | | | 226,323 | |
Gjensidige Forsikring ASA | | | 1,601 | | | | 28,401 | |
Kongsberg Gruppen ASA | | | 844 | | | | 89,402 | |
Mowi ASA | | | 3,676 | | | | 64,100 | |
Norsk Hydro ASA | | | 14,124 | | | | 79,206 | |
Orkla ASA | | | 7,453 | | | | 66,282 | |
Salmar ASA | | | 520 | | | | 27,050 | |
Telenor ASA | | | 6,767 | | | | 84,011 | |
Yara International ASA | | | 1,233 | | | | 35,946 | |
| | |
(Cost $1,025,434) | | | | | | | 943,222 | |
| | |
Poland — 0.0% | | | | | | | | |
InPost SA * | | | | | | | | |
| | |
(Cost $49,809) | | | 2,779 | | | | 51,247 | |
| | |
Portugal — 0.0% | | | | | | | | |
EDP SA | | | 32,556 | | | | 136,794 | |
Galp Energia SGPS SA | | | 3,432 | | | | 71,267 | |
Jeronimo Martins SGPS SA | | | 3,002 | | | | 55,625 | |
| | |
(Cost $268,626) | | | | | | | 263,686 | |
| | |
Singapore — 0.4% | | | | | | | | |
CapitaLand Ascendas REIT | | | 25,179 | | | | 55,634 | |
CapitaLand Integrated | | | | | | | | |
Commercial Trust REIT | | | 64,256 | | | | 104,509 | |
CapitaLand Investment Ltd. | | | 16,402 | | | | 34,101 | |
DBS Group Holdings Ltd. | | | 19,037 | | | | 531,041 | |
Genting Singapore Ltd. | | | 28,208 | | | | 17,421 | |
Grab Holdings Ltd., Class A * | | | 18,778 | | | | 60,465 | |
Keppel Ltd. | | | 15,500 | | | | 73,371 | |
Oversea-Chinese Banking Corp. Ltd. | | | 28,785 | | | | 321,318 | |
Sea Ltd., ADR * | | | 3,280 | | | | 256,857 | |
See Notes to Financial Statements.
22 | DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Sembcorp Industries Ltd. | | | 8,600 | | | | 32,528 | |
Singapore Airlines Ltd. | | | 14,250 | | | | 68,656 | |
Singapore Exchange Ltd. | | | 9,131 | | | | 75,867 | |
Singapore Technologies Engineering Ltd. | | | 23,602 | | | | 80,578 | |
Singapore Telecommunications Ltd. | | | 77,200 | | | | 185,382 | |
United Overseas Bank Ltd. | | | 10,801 | | | | 260,112 | |
Wilmar International Ltd. | | | 20,400 | | | | 49,143 | |
| | |
(Cost $2,135,226) | | | | | | | 2,206,983 | |
| | |
Spain — 0.7% | | | | | | | | |
Acciona SA | | | 263 | | | | 35,603 | |
ACS Actividades de Construccion y Servicios SA | | | 2,191 | | | | 99,725 | |
Aena SME SA, 144A | | | 638 | | | | 128,953 | |
Amadeus IT Group SA | | | 4,420 | | | | 298,149 | |
Banco Bilbao Vizcaya Argentaria SA | | | 54,876 | | | | 582,519 | |
Banco de Sabadell SA | | | 49,329 | | | | 106,092 | |
Banco Santander SA | | | 148,030 | | | | 736,690 | |
CaixaBank SA | | | 31,679 | | | | 191,458 | |
Cellnex Telecom SA, 144A * | | | 5,330 | | | | 206,079 | |
EDP Renovaveis SA | | | 2,561 | | | | 41,019 | |
Endesa SA | | | 2,894 | | | | 61,184 | |
Grifols SA * | | | 3,070 | | | | 34,050 | |
Iberdrola SA | | | 56,460 | | | | 801,194 | |
Industria de Diseno Textil SA | | | 9,824 | | | | 532,618 | |
Redeia Corp. SA | | | 3,574 | | | | 67,965 | |
Repsol SA | | | 11,972 | | | | 165,051 | |
Telefonica SA | | | 37,922 | | | | 171,849 | |
| | |
(Cost $3,280,293) | | | | | | | 4,260,198 | |
| | |
Sweden — 0.9% | | | | | | | | |
AddTech AB, Class B | | | 2,400 | | | | 76,119 | |
Alfa Laval AB | | | 2,977 | | | | 133,694 | |
Assa Abloy AB, Class B | | | 8,948 | | | | 289,303 | |
Atlas Copco AB, Class A | | | 24,451 | | | | 444,455 | |
Atlas Copco AB, Class B | | | 14,308 | | | | 228,017 | |
Beijer Ref AB | | | 2,798 | | | | 48,278 | |
Boliden AB | | | 2,482 | | | | 76,103 | |
Epiroc AB, Class A | | | 6,164 | | | | 119,058 | |
Epiroc AB, Class B | | | 4,074 | | | | 72,523 | |
EQT AB | | | 4,186 | | | | 140,123 | |
Essity AB, Class B | | | 5,103 | | | | 155,271 | |
Evolution AB, 144A | | | 1,587 | | | | 165,275 | |
Fastighets AB Balder, Class B * | | | 7,074 | | | | 55,607 | |
Getinge AB, Class B | | | 2,231 | | | | 46,534 | |
H & M Hennes & Mauritz AB, Class B | | | 6,491 | | | | 102,999 | |
Hexagon AB, Class B | | | 20,648 | | | | 211,707 | |
Holmen AB, Class B | | | 870 | | | | 35,698 | |
Husqvarna AB, Class B | | | 3,022 | | | | 20,397 | |
Industrivarden AB, Class A | | | 1,309 | | | | 47,192 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Industrivarden AB, Class C | | | 1,586 | | | | 57,055 | |
Indutrade AB | | | 2,478 | | | | 78,109 | |
Investment AB Latour, Class B | | | 1,155 | | | | 34,805 | |
Investor AB, Class B | | | 15,544 | | | | 463,478 | |
L E Lundbergforetagen AB, Class B | | | 561 | | | | 30,842 | |
Lifco AB, Class B | | | 2,360 | | | | 79,045 | |
Nibe Industrier AB, Class B | | | 14,047 | | | | 69,462 | |
Saab AB, Class B | | | 2,940 | | | | 69,576 | |
Sagax AB, Class B | | | 1,714 | | | | 45,291 | |
Sandvik AB | | | 9,726 | | | | 207,327 | |
Securitas AB, Class B | | | 5,760 | | | | 67,495 | |
Skandinaviska Enskilda Banken AB, Class A | | | 14,740 | | | | 227,417 | |
Skanska AB, Class B | | | 2,461 | | | | 49,817 | |
SKF AB, Class B | | | 2,892 | | | | 54,856 | |
Svenska Cellulosa AB SCA, Class B | | | 5,239 | | | | 72,926 | |
Svenska Handelsbanken AB, Class A | | | 12,293 | | | | 127,122 | |
Swedbank AB, Class A | | | 8,402 | | | | 180,006 | |
Swedish Orphan Biovitrum AB * | | | 1,702 | | | | 53,184 | |
Tele2 AB, Class B | | | 4,861 | | | | 55,299 | |
Telefonaktiebolaget LM Ericsson, Class B | | | 27,370 | | | | 204,512 | |
Telia Co. AB | | | 22,557 | | | | 70,133 | |
Trelleborg AB, Class B | | | 1,705 | | | | 66,630 | |
Volvo AB, Class A | | | 2,469 | | | | 66,591 | |
Volvo AB, Class B | | | 14,680 | | | | 390,769 | |
Volvo Car AB, Class B * | | | 5,377 | | | | 15,426 | |
| | |
(Cost $5,045,702) | | | | | | | 5,305,526 | |
| | |
Switzerland — 3.1% | | | | | | | | |
ABB Ltd. | | | 14,667 | | | | 840,658 | |
Adecco Group AG | | | 1,247 | | | | 42,387 | |
Alcon, Inc. | | | 4,495 | | | | 436,017 | |
Avolta AG * | | | 814 | | | | 31,583 | |
Bachem Holding AG | | | 205 | | | | 19,607 | |
Baloise Holding AG | | | 456 | | | | 88,196 | |
Banque Cantonale Vaudoise | | | 273 | | | | 29,248 | |
Barry Callebaut AG | | | 38 | | | | 61,628 | |
BKW AG | | | 222 | | | | 41,760 | |
Chocoladefabriken Lindt & Spruengli AG | | | 1 | | | | 130,827 | |
Chocoladefabriken Lindt & Spruengli AG Participation Certificates | | | 8 | | | | 105,793 | |
Chubb Ltd. | | | 3,653 | | | | 1,038,110 | |
Cie Financiere Richemont SA, Class A | | | 5,043 | | | | 795,575 | |
Clariant AG * | | | 1,404 | | | | 22,075 | |
Coca-Cola HBC AG * | | | 2,213 | | | | 82,018 | |
DSM-Firmenich AG | | | 1,826 | | | | 248,608 | |
EMS-Chemie Holding AG | | | 75 | | | | 62,894 | |
See Notes to Financial Statements.
DBX ETF Trust | 23
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Galderma Group AG * | | | 440 | | | | 42,680 | |
Garmin Ltd. | | | 1,396 | | | | 255,873 | |
Geberit AG | | | 341 | | | | 217,433 | |
Givaudan SA | | | 89 | | | | 456,932 | |
Glencore PLC * | | | 96,154 | | | | 506,493 | |
Helvetia Holding AG | | | 271 | | | | 42,896 | |
Holcim AG * | | | 4,680 | | | | 450,763 | |
Julius Baer Group Ltd. | | | 1,783 | | | | 104,044 | |
Kuehne + Nagel International AG | | | 471 | | | | 146,055 | |
Logitech International SA | | | 1,415 | | | | 128,116 | |
Lonza Group AG | | | 685 | | | | 448,566 | |
Nestle SA | | | 24,703 | | | | 2,650,088 | |
Novartis AG | | | 18,082 | | | | 2,176,361 | |
Partners Group Holding AG | | | 221 | | | | 318,040 | |
Roche Holding AG | | | 274 | | | | 99,595 | |
Roche Holding AG | | | 6,525 | | | | 2,208,710 | |
Sandoz Group AG | | | 3,726 | | | | 163,804 | |
Schindler Holding AG | | | 250 | | | | 67,623 | |
Schindler Holding AG Participation Certificates | | | 294 | | | | 81,708 | |
SGS SA | | | 1,530 | | | | 170,663 | |
SIG Group AG * | | | 2,717 | | | | 57,450 | |
Sika AG | | | 1,464 | | | | 469,336 | |
Sonova Holding AG | | | 464 | | | | 161,767 | |
STMicroelectronics NV | | | 6,096 | | | | 194,130 | |
Straumann Holding AG | | | 972 | | | | 143,718 | |
Swatch Group AG — Bearer | | | 274 | | | | 57,419 | |
Swatch Group AG — Registered | | | 877 | | | | 36,591 | |
Swiss Life Holding AG | | | 264 | | | | 213,453 | |
Swiss Prime Site AG | | | 627 | | | | 70,648 | |
Swiss Re AG | | | 2,804 | | | | 382,371 | |
Swisscom AG | | | 273 | | | | 172,626 | |
Temenos AG | | | 550 | | | | 38,311 | |
UBS Group AG | | | 29,842 | | | | 913,427 | |
VAT Group AG, 144A | | | 274 | | | | 141,190 | |
Zurich Insurance Group AG | | | 1,312 | | | | 759,876 | |
| | |
(Cost $15,982,805) | | | | | | | 18,625,740 | |
| | |
United Kingdom — 3.9% | | | | | | | | |
3i Group PLC | | | 9,366 | | | | 391,312 | |
Admiral Group PLC | | | 2,576 | | | | 98,789 | |
Amcor PLC | | | 12,598 | | | | 144,121 | |
Anglo American PLC | | | 11,412 | | | | 331,311 | |
Ashtead Group PLC | | | 3,898 | | | | 276,537 | |
Associated British Foods PLC | | | 2,846 | | | | 93,135 | |
AstraZeneca PLC | | | 14,200 | | | | 2,477,241 | |
Auto Trader Group PLC, 144A | | | 9,178 | | | | 102,649 | |
Aviva PLC | | | 25,113 | | | | 166,542 | |
BAE Systems PLC | | | 28,439 | | | | 509,435 | |
Barclays PLC | | | 133,539 | | | | 400,850 | |
Barratt Developments PLC | | | 12,710 | | | | 84,723 | |
Berkeley Group Holdings PLC | | | 1,074 | | | | 70,349 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
BP PLC | | | 153,941 | | | | 868,749 | |
British American Tobacco PLC | | | 18,250 | | | | 680,217 | |
BT Group PLC | | | 62,782 | | | | 114,691 | |
Bunzl PLC | | | 3,054 | | | | 142,086 | |
Centrica PLC | | | 55,782 | | | | 94,389 | |
CNH Industrial NV | | | 8,731 | | | | 90,279 | |
Coca-Cola Europacific Partners PLC | | | 1,774 | | | | 142,789 | |
Compass Group PLC | | | 15,748 | | | | 496,517 | |
Croda International PLC | | | 1,256 | | | | 67,794 | |
Diageo PLC | | | 20,401 | | | | 662,927 | |
Endeavour Mining PLC | | | 2,332 | | | | 49,466 | |
Entain PLC | | | 5,750 | | | | 48,818 | |
GSK PLC | | | 37,751 | | | | 822,108 | |
Haleon PLC | | | 63,669 | | | | 319,646 | |
Halma PLC | | | 3,163 | | | | 108,331 | |
Hargreaves Lansdown PLC | | | 3,049 | | | | 44,519 | |
HSBC Holdings PLC | | | 171,147 | | | | 1,499,608 | |
Imperial Brands PLC | | | 8,131 | | | | 232,959 | |
Informa PLC | | | 11,569 | | | | 126,806 | |
InterContinental Hotels Group PLC | | | 1,420 | | | | 141,535 | |
Intertek Group PLC | | | 1,482 | | | | 96,412 | |
J Sainsbury PLC | | | 16,258 | | | | 62,477 | |
JD Sports Fashion PLC | | | 28,556 | | | | 51,772 | |
Kingfisher PLC | | | 15,556 | | | | 58,103 | |
Land Securities Group PLC REIT | | | 6,318 | | | | 52,270 | |
Legal & General Group PLC | | | 63,639 | | | | 187,181 | |
Lloyds Banking Group PLC | | | 595,139 | | | | 457,565 | |
London Stock Exchange Group PLC | | | 4,318 | | | | 581,681 | |
M&G PLC | | | 25,278 | | | | 71,227 | |
Melrose Industries PLC | | | 12,308 | | | | 77,951 | |
Mondi PLC | | | 4,466 | | | | 86,398 | |
National Grid PLC | | | 44,304 | | | | 581,450 | |
NatWest Group PLC | | | 62,794 | | | | 284,883 | |
Next PLC | | | 1,012 | | | | 135,197 | |
Pearson PLC | | | 4,587 | | | | 63,661 | |
Pentair PLC | | | 1,579 | | | | 140,042 | |
Persimmon PLC | | | 2,891 | | | | 62,464 | |
Phoenix Group Holdings PLC | | | 6,799 | | | | 50,531 | |
Reckitt Benckiser Group PLC | | | 6,549 | | | | 375,783 | |
RELX PLC | | | 17,448 | | | | 811,530 | |
Rentokil Initial PLC | | | 22,621 | | | | 143,594 | |
Rio Tinto PLC | | | 10,130 | | | | 635,047 | |
Rolls-Royce Holdings PLC * | | | 78,063 | | | | 509,278 | |
Sage Group PLC | | | 9,984 | | | | 132,658 | |
Schroders PLC | | | 9,147 | | | | 41,162 | |
Segro PLC REIT | | | 11,398 | | | | 130,504 | |
Severn Trent PLC | | | 2,464 | | | | 83,257 | |
Shell PLC | | | 58,422 | | | | 2,058,502 | |
Smith & Nephew PLC | | | 7,965 | | | | 122,528 | |
See Notes to Financial Statements.
24 | DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Smiths Group PLC | | | 2,951 | | | | 69,888 | |
Spirax Group PLC | | | 583 | | | | 58,960 | |
SSE PLC | | | 9,445 | | | | 234,235 | |
Standard Chartered PLC | | | 21,889 | | | | 224,215 | |
Taylor Wimpey PLC | | | 29,057 | | | | 61,502 | |
Tesco PLC | | | 62,833 | | | | 292,079 | |
Unilever PLC | | | 23,170 | | | | 1,493,935 | |
United Utilities Group PLC | | | 7,195 | | | | 96,404 | |
Vodafone Group PLC | | | 200,191 | | | | 195,800 | |
Whitbread PLC | | | 1,849 | | | | 70,107 | |
Willis Towers Watson PLC | | | 929 | | | | 271,370 | |
Wise PLC, Class A * | | | 6,113 | | | | 56,600 | |
WPP PLC | | | 11,037 | | | | 105,048 | |
| | |
(Cost $19,147,827) | | | | | | | 23,276,479 | |
| | |
United States — 74.0% | | | | | | | | |
3M Co. | | | 4,976 | | | | 670,217 | |
A O Smith Corp. | | | 1,184 | | | | 99,124 | |
Abbott Laboratories | | | 15,939 | | | | 1,805,411 | |
AbbVie, Inc. | | | 16,344 | | | | 3,208,491 | |
Adobe, Inc. * | | | 4,149 | | | | 2,383,227 | |
Advanced Micro Devices, Inc. * | | | 14,847 | | | | 2,205,670 | |
AECOM | | | 1,482 | | | | 148,407 | |
AES Corp. | | | 6,163 | | | | 105,572 | |
Aflac, Inc. | | | 5,210 | | | | 574,976 | |
Agilent Technologies, Inc. | | | 2,689 | | | | 384,312 | |
Air Products and Chemicals, Inc. | | | 2,038 | | | | 568,296 | |
Airbnb, Inc., Class A * | | | 3,948 | | | | 463,140 | |
Akamai Technologies, Inc. * | | | 1,483 | | | | 151,029 | |
Albemarle Corp. | | | 1,031 | | | | 93,048 | |
Albertsons Cos., Inc., Class A | | | 3,215 | | | | 63,078 | |
Alexandria Real Estate Equities, Inc. REIT | | | 1,403 | | | | 167,757 | |
Align Technology, Inc. * | | | 647 | | | | 153,481 | |
Alliant Energy Corp. | | | 2,358 | | | | 137,401 | |
Allstate Corp. | | | 2,456 | | | | 464,037 | |
Ally Financial, Inc. | | | 2,894 | | | | 124,992 | |
Alnylam Pharmaceuticals, Inc. * | | | 1,170 | | | | 307,347 | |
Alphabet, Inc., Class A | | | 54,298 | | | | 8,871,207 | |
Alphabet, Inc., Class C | | | 46,924 | | | | 7,747,622 | |
Altria Group, Inc. | | | 16,442 | | | | 884,086 | |
Amazon.com, Inc. * | | | 86,668 | | | | 15,470,238 | |
Ameren Corp. | | | 2,441 | | | | 201,407 | |
American Electric Power Co., Inc. | | | 4,839 | | | | 485,255 | |
American Express Co. | | | 5,400 | | | | 1,396,710 | |
American Financial Group, Inc. | | | 647 | | | | 86,452 | |
American Homes 4 Rent, Class A REIT | | | 2,794 | | | | 111,117 | |
American International Group, Inc. | | | 6,081 | | | | 468,541 | |
American Tower Corp. REIT | | | 4,315 | | | | 966,819 | |
American Water Works Co., Inc. | | | 1,812 | | | | 259,333 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Ameriprise Financial, Inc. | | | 964 | | | | 433,260 | |
AMETEK, Inc. | | | 2,073 | | | | 354,587 | |
Amgen, Inc. | | | 5,012 | | | | 1,673,156 | |
Amphenol Corp., Class A | | | 11,096 | | | | 748,425 | |
Analog Devices, Inc. | | | 4,598 | | | | 1,079,794 | |
Annaly Capital Management, Inc. REIT | | | 4,418 | | | | 89,067 | |
ANSYS, Inc. * | | | 821 | | | | 263,886 | |
Aon PLC, Class A | | | 1,825 | | | | 627,289 | |
APA Corp. | | | 3,156 | | | | 89,914 | |
Apollo Global Management, Inc. | | | 3,610 | | | | 417,785 | |
Apple, Inc. | | | 134,812 | | | | 30,871,948 | |
Applied Materials, Inc. | | | 7,590 | | | | 1,497,203 | |
AppLovin Corp., Class A * | | | 1,889 | | | | 175,431 | |
Archer-Daniels-Midland Co. | | | 4,965 | | | | 302,815 | |
Ares Management Corp., Class A | | | 1,779 | | | | 260,446 | |
Arista Networks, Inc. * | | | 2,536 | | | | 896,172 | |
Arthur J Gallagher & Co. | | | 1,967 | | | | 575,485 | |
Aspen Technology, Inc. * | | | 273 | | | | 63,920 | |
Assurant, Inc. | | | 548 | | | | 107,600 | |
AT&T, Inc. | | | 64,699 | | | | 1,287,510 | |
Atmos Energy Corp. | | | 1,364 | | | | 178,329 | |
Autodesk, Inc. * | | | 1,994 | | | | 515,250 | |
Automatic Data Processing, Inc. | | | 3,827 | | | | 1,055,908 | |
AutoZone, Inc. * | | | 166 | | | | 528,126 | |
AvalonBay Communities, Inc. REIT | | | 1,444 | | | | 325,954 | |
Avantor, Inc. * | | | 5,527 | | | | 142,818 | |
Avery Dennison Corp. | | | 758 | | | | 168,162 | |
Axon Enterprise, Inc. * | | | 648 | | | | 236,501 | |
Baker Hughes Co. | | | 9,351 | | | | 328,875 | |
Ball Corp. | | | 2,886 | | | | 184,156 | |
Bank of America Corp. | | | 65,592 | | | | 2,672,874 | |
Bank of New York Mellon Corp. | | | 7,045 | | | | 480,610 | |
Bath & Body Works, Inc. | | | 1,930 | | | | 59,367 | |
Baxter International, Inc. | | | 4,445 | | | | 168,643 | |
Becton Dickinson and Co. | | | 2,747 | | | | 665,900 | |
Bentley Systems, Inc., Class B | | | 1,188 | | | | 61,146 | |
Berkshire Hathaway, Inc., Class B * | | | 12,230 | | | | 5,820,502 | |
Best Buy Co., Inc. | | | 2,021 | | | | 202,908 | |
Biogen, Inc. * | | | 1,329 | | | | 272,126 | |
BioMarin Pharmaceutical, Inc. * | | | 1,637 | | | | 149,311 | |
Bio-Rad Laboratories, Inc., Class A * | | | 238 | | | | 80,282 | |
Bio-Techne Corp. | | | 1,444 | | | | 106,842 | |
BlackRock, Inc. | | | 1,379 | | | | 1,243,596 | |
Blackstone, Inc. | | | 6,528 | | | | 929,326 | |
Block, Inc. * | | | 4,900 | | | | 323,792 | |
Boeing Co. * | | | 5,403 | | | | 938,717 | |
Booking Holdings, Inc. | | | 311 | | | | 1,215,771 | |
See Notes to Financial Statements.
DBX ETF Trust | 25
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Booz Allen Hamilton Holding Corp. | | | 1,084 | | | | 172,118 | |
Boston Scientific Corp. * | | | 13,575 | | | | 1,110,299 | |
Bristol-Myers Squibb Co. | | | 19,172 | | | | 957,641 | |
Broadcom, Inc. | | | 40,836 | | | | 6,648,918 | |
Broadridge Financial Solutions, Inc. | | | 1,061 | | | | 225,844 | |
Brookfield Renewable Corp., Class A | | | 1,160 | | | | 33,085 | |
Brown & Brown, Inc. | | | 2,340 | | | | 246,004 | |
Brown-Forman Corp., Class B | | | 1,646 | | | | 75,041 | |
Builders FirstSource, Inc. * | | | 1,075 | | | | 187,050 | |
Bunge Global SA | | | 1,339 | | | | 135,748 | |
Burlington Stores, Inc. * | | | 548 | | | | 146,996 | |
BXP, Inc. REIT | | | 1,246 | | | | 93,724 | |
C.H. Robinson Worldwide, Inc. | | | 1,151 | | | | 119,140 | |
Cadence Design Systems, Inc. * | | | 2,473 | | | | 665,064 | |
Camden Property Trust REIT | | | 879 | | | | 110,051 | |
Campbell Soup Co. | | | 1,661 | | | | 82,585 | |
Capital One Financial Corp. | | | 3,728 | | | | 547,755 | |
Cardinal Health, Inc. | | | 2,241 | | | | 252,606 | |
Carlisle Cos., Inc. | | | 444 | | | | 188,167 | |
Carlyle Group, Inc. | | | 1,712 | | | | 68,703 | |
CarMax, Inc. * | | | 1,343 | | | | 113,551 | |
Carnival Corp. * | | | 9,171 | | | | 151,322 | |
Carrier Global Corp. | | | 7,711 | | | | 561,207 | |
Catalent, Inc. * | | | 1,490 | | | | 90,830 | |
Caterpillar, Inc. | | | 4,547 | | | | 1,619,187 | |
Cboe Global Markets, Inc. | | | 879 | | | | 180,547 | |
CBRE Group, Inc., Class A * | | | 2,744 | | | | 315,944 | |
CDW Corp. | | | 1,200 | | | | 270,768 | |
Celanese Corp. | | | 1,036 | | | | 135,302 | |
Celsius Holdings, Inc. * | | | 1,419 | | | | 53,965 | |
Cencora, Inc. | | | 1,530 | | | | 366,542 | |
Centene Corp. * | | | 5,040 | | | | 397,303 | |
CenterPoint Energy, Inc. | | | 5,713 | | | | 155,965 | |
CF Industries Holdings, Inc. | | | 1,842 | | | | 153,052 | |
Charles River Laboratories International, Inc. * | | | 472 | | | | 93,338 | |
Charles Schwab Corp. | | | 14,266 | | | | 928,717 | |
Charter Communications, Inc., Class A * | | | 877 | | | | 304,793 | |
Cheniere Energy, Inc. | | | 2,227 | | | | 412,574 | |
Chesapeake Energy Corp. (b) | | | 877 | | | | 65,328 | |
Chevron Corp. | | | 16,085 | | | | 2,379,776 | |
Chipotle Mexican Grill, Inc. * | | | 13,174 | | | | 738,798 | |
Chord Energy Corp. | | | 572 | | | | 84,902 | |
Church & Dwight Co., Inc. | | | 2,154 | | | | 219,450 | |
Cigna Group | | | 2,554 | | | | 924,063 | |
Cincinnati Financial Corp. | | | 1,407 | | | | 192,801 | |
Cintas Corp. | | | 839 | | | | 675,496 | |
Cisco Systems, Inc. | | | 37,026 | | | | 1,871,294 | |
Citigroup, Inc. | | | 17,900 | | | | 1,121,256 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Citizens Financial Group, Inc. | | | 4,444 | | | | 191,314 | |
Clorox Co. | | | 1,095 | | | | 173,349 | |
Cloudflare, Inc., Class A * | | | 2,792 | | | | 229,335 | |
CME Group, Inc. | | | 3,294 | | | | 710,648 | |
CMS Energy Corp. | | | 2,429 | | | | 164,832 | |
Coca-Cola Co. | | | 37,721 | | | | 2,733,641 | |
Cognizant Technology Solutions Corp., Class A | | | 4,588 | | | | 356,809 | |
Coinbase Global, Inc., Class A * | | | 1,724 | | | | 316,113 | |
Colgate-Palmolive Co. | | | 7,455 | | | | 793,957 | |
Comcast Corp., Class A | | | 36,891 | | | | 1,459,777 | |
Conagra Brands, Inc. | | | 4,500 | | | | 140,400 | |
ConocoPhillips | | | 10,873 | | | | 1,237,239 | |
Consolidated Edison, Inc. | | | 3,231 | | | | 328,140 | |
Constellation Brands, Inc., Class A | | | 1,547 | | | | 372,378 | |
Constellation Energy Corp. | | | 2,935 | | | | 577,314 | |
Cooper Cos., Inc. * | | | 1,782 | | | | 188,411 | |
Copart, Inc. * | | | 8,096 | | | | 428,764 | |
Corebridge Financial, Inc. | | | 2,267 | | | | 67,013 | |
Corning, Inc. | | | 7,386 | | | | 309,104 | |
Corpay, Inc. * | | | 609 | | | | 192,170 | |
Corteva, Inc. | | | 6,558 | | | | 375,773 | |
CoStar Group, Inc. * | | | 3,723 | | | | 287,788 | |
Costco Wholesale Corp. | | | 4,082 | | | | 3,642,695 | |
Coterra Energy, Inc. | | | 7,372 | | | | 179,361 | |
CRH PLC | | | 6,369 | | | | 564,504 | |
Crowdstrike Holdings, Inc., Class A * | | | 2,087 | | | | 578,683 | |
Crown Castle, Inc. REIT | | | 4,106 | | | | 459,954 | |
Crown Holdings, Inc. | | | 1,190 | | | | 107,588 | |
CSX Corp. | | | 17,864 | | | | 612,199 | |
Cummins, Inc. | | | 1,191 | | | | 372,604 | |
CVS Health Corp. | | | 11,717 | | | | 670,681 | |
D.R. Horton, Inc. | | | 2,707 | | | | 510,973 | |
Danaher Corp. | | | 6,427 | | | | 1,730,855 | |
Darden Restaurants, Inc. | | | 1,150 | | | | 181,872 | |
Datadog, Inc., Class A * | | | 2,587 | | | | 300,765 | |
DaVita, Inc. * | | | 590 | | | | 89,043 | |
Dayforce, Inc. * | | | 1,515 | | | | 86,613 | |
Deckers Outdoor Corp. * | | | 263 | | | | 252,293 | |
Deere & Co. | | | 2,426 | | | | 935,805 | |
Dell Technologies, Inc., Class C | | | 2,603 | | | | 300,751 | |
Delta Air Lines, Inc. | | | 1,156 | | | | 49,118 | |
Devon Energy Corp. | | | 6,107 | | | | 273,471 | |
Dexcom, Inc. * | | | 3,486 | | | | 241,719 | |
Diamondback Energy, Inc. | | | 1,483 | | | | 289,348 | |
Dick’s Sporting Goods, Inc. | | | 529 | | | | 125,352 | |
Digital Realty Trust, Inc. REIT | | | 2,867 | | | | 434,666 | |
Discover Financial Services | | | 2,356 | | | | 326,801 | |
DocuSign, Inc. * | | | 1,770 | | | | 104,802 | |
Dollar General Corp. | | | 2,073 | | | | 171,997 | |
See Notes to Financial Statements.
26 | DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Dollar Tree, Inc. * | | | 2,023 | | | | 170,923 | |
Dominion Energy, Inc. | | | 7,648 | | | | 427,523 | |
Domino’s Pizza, Inc. | | | 316 | | | | 130,890 | |
DoorDash, Inc., Class A * | | | 2,815 | | | | 362,319 | |
Dover Corp. | | | 1,320 | | | | 245,560 | |
Dow, Inc. | | | 6,558 | | | | 351,378 | |
DraftKings, Inc., Class A * | | | 3,796 | | | | 130,962 | |
DTE Energy Co. | | | 1,843 | | | | 230,412 | |
Duke Energy Corp. | | | 7,134 | | | | 812,919 | |
DuPont de Nemours, Inc. | | | 3,896 | | | | 328,238 | |
Dynatrace, Inc. * | | | 2,676 | | | | 135,459 | |
Eastman Chemical Co. | | | 955 | | | | 97,763 | |
Eaton Corp. PLC | | | 3,627 | | | | 1,113,235 | |
eBay, Inc. | | | 4,832 | | | | 285,571 | |
Ecolab, Inc. | | | 2,362 | | | | 598,011 | |
Edison International | | | 3,497 | | | | 304,344 | |
Edwards Lifesciences Corp. * | | | 5,666 | | | | 396,393 | |
Electronic Arts, Inc. | | | 2,349 | | | | 356,625 | |
Elevance Health, Inc. | | | 2,139 | | | | 1,191,188 | |
Eli Lilly & Co. | | | 7,464 | | | | 7,165,589 | |
EMCOR Group, Inc. | | | 403 | | | | 158,403 | |
Emerson Electric Co. | | | 5,348 | | | | 563,626 | |
Enphase Energy, Inc. * | | | 1,230 | | | | 148,879 | |
Entegris, Inc. | | | 1,425 | | | | 165,115 | |
Entergy Corp. | | | 2,205 | | | | 266,121 | |
EOG Resources, Inc. | | | 5,264 | | | | 678,108 | |
EPAM Systems, Inc. * | | | 518 | | | | 103,994 | |
EQT Corp. | | | 5,190 | | | | 173,917 | |
Equifax, Inc. | | | 1,112 | | | | 341,529 | |
Equinix, Inc. REIT | | | 858 | | | | 715,881 | |
Equitable Holdings, Inc. | | | 3,584 | | | | 152,392 | |
Equity LifeStyle Properties, Inc. REIT | | | 1,755 | | | | 127,606 | |
Equity Residential REIT | | | 3,400 | | | | 254,592 | |
Erie Indemnity Co., Class A | | | 270 | | | | 137,222 | |
Essential Utilities, Inc. | | | 2,958 | | | | 115,332 | |
Essex Property Trust, Inc. REIT | | | 612 | | | | 184,695 | |
Estee Lauder Cos., Inc., Class A | | | 2,081 | | | | 190,744 | |
Evergy, Inc. | | | 2,064 | | | | 122,065 | |
Eversource Energy | | | 3,631 | | | | 245,201 | |
Exact Sciences Corp. * | | | 1,589 | | | | 98,025 | |
Exelon Corp. | | | 9,065 | | | | 345,286 | |
Expedia Group, Inc. * | | | 1,240 | | | | 172,472 | |
Expeditors International of Washington, Inc. | | | 1,296 | | | | 159,939 | |
Extra Space Storage, Inc. REIT | | | 1,884 | | | | 333,468 | |
Exxon Mobil Corp. | | | 41,264 | | | | 4,866,676 | |
F5, Inc. * | | | 545 | | | | 110,717 | |
FactSet Research Systems, Inc. | | | 351 | | | | 148,417 | |
Fair Isaac Corp. * | | | 242 | | | | 418,725 | |
Fastenal Co. | | | 5,161 | | | | 352,393 | |
FedEx Corp. | | | 2,165 | | | | 646,837 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Ferguson Enterprises, Inc. | | | 1,892 | | | | 389,203 | |
Fidelity National Financial, Inc. | | | 2,242 | | | | 132,188 | |
Fidelity National Information Services, Inc. | | | 5,140 | | | | 423,793 | |
Fifth Third Bancorp | | | 6,202 | | | | 264,763 | |
First Citizens BancShares, Inc., Class A | | | 85 | | | | 172,610 | |
First Solar, Inc. * | | | 878 | | | | 199,631 | |
FirstEnergy Corp. | | | 5,350 | | | | 234,972 | |
Fiserv, Inc. * | | | 5,478 | | | | 956,459 | |
Ford Motor Co. | | | 36,000 | | | | 402,840 | |
Fortinet, Inc. * | | | 5,717 | | | | 438,551 | |
Fortive Corp. | | | 3,195 | | | | 237,708 | |
Fortune Brands Innovations, Inc. | | | 1,253 | | | | 99,501 | |
Fox Corp., Class A | | | 2,458 | | | | 101,687 | |
Fox Corp., Class B | | | 1,363 | | | | 52,380 | |
Franklin Resources, Inc. | | | 2,884 | | | | 58,372 | |
Freeport-McMoRan, Inc. | | | 13,570 | | | | 600,880 | |
Gaming and Leisure Properties, Inc. REIT | | | 2,691 | | | | 139,986 | |
Gartner, Inc. * | | | 757 | | | | 372,414 | |
GE HealthCare Technologies, Inc. | | | 3,729 | | | | 316,294 | |
GE Vernova, Inc. * | | | 2,502 | | | | 502,902 | |
Gen Digital, Inc. | | | 4,885 | | | | 129,257 | |
General Dynamics Corp. | | | 2,085 | | | | 624,166 | |
General Electric Co. | | | 10,000 | | | | 1,746,200 | |
General Mills, Inc. | | | 5,322 | | | | 384,727 | |
General Motors Co. | | | 10,690 | | | | 532,148 | |
Genuine Parts Co. | | | 1,346 | | | | 192,828 | |
Gilead Sciences, Inc. | | | 11,334 | | | | 895,386 | |
Global Payments, Inc. | | | 2,343 | | | | 260,096 | |
GoDaddy, Inc., Class A * | | | 1,222 | | | | 204,575 | |
Goldman Sachs Group, Inc. | | | 3,011 | | | | 1,536,363 | |
Graco, Inc. | | | 1,460 | | | | 121,691 | |
Halliburton Co. | | | 8,417 | | | | 261,685 | |
Hartford Financial Services Group, Inc. | | | 2,935 | | | | 340,754 | |
HCA Healthcare, Inc. | | | 1,824 | | | | 721,556 | |
Healthpeak Properties, Inc. REIT | | | 6,469 | | | | 144,129 | |
HEICO Corp. | | | 374 | | | | 95,953 | |
HEICO Corp., Class A | | | 714 | | | | 142,864 | |
Henry Schein, Inc. * | | | 1,155 | | | | 81,485 | |
Hershey Co. | | | 1,339 | | | | 258,507 | |
Hess Corp. | | | 2,452 | | | | 338,523 | |
Hewlett Packard Enterprise Co. | | | 11,731 | | | | 227,229 | |
HF Sinclair Corp. | | | 1,473 | | | | 72,383 | |
Hilton Worldwide Holdings, Inc. | | | 2,433 | | | | 534,384 | |
Hologic, Inc. * | | | 2,085 | | | | 169,385 | |
Home Depot, Inc. | | | 9,157 | | | | 3,374,355 | |
Honeywell International, Inc. | | | 6,084 | | | | 1,264,924 | |
Hormel Foods Corp. | | | 2,880 | | | | 93,744 | |
Host Hotels & Resorts, Inc. REIT | | | 6,189 | | | | 109,545 | |
See Notes to Financial Statements.
DBX ETF Trust | 27
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Howmet Aerospace, Inc. | | | 3,650 | | | | 352,809 | |
HP, Inc. | | | 8,427 | | | | 304,889 | |
Hubbell, Inc. | | | 458 | | | | 183,163 | |
HubSpot, Inc. * | | | 464 | | | | 231,568 | |
Humana, Inc. | | | 1,133 | | | | 401,615 | |
Huntington Bancshares, Inc. | | | 13,500 | | | | 202,095 | |
Huntington Ingalls Industries, Inc. | | | 318 | | | | 89,921 | |
Hyatt Hotels Corp., Class A | | | 303 | | | | 46,032 | |
IDEX Corp. | | | 733 | | | | 151,350 | |
IDEXX Laboratories, Inc. * | | | 789 | | | | 379,769 | |
Illinois Tool Works, Inc. | | | 2,794 | | | | 707,385 | |
Illumina, Inc. * | | | 1,482 | | | | 194,735 | |
Incyte Corp. * | | | 1,748 | | | | 114,774 | |
Ingersoll Rand, Inc. | | | 3,670 | | | | 335,622 | |
Insulet Corp. * | | | 637 | | | | 129,164 | |
Intel Corp. | | | 38,995 | | | | 859,450 | |
Intercontinental Exchange, Inc. | | | 5,154 | | | | 832,629 | |
International Business Machines Corp. | | | 8,555 | | | | 1,729,222 | |
International Flavors & Fragrances, Inc. | | | 2,313 | | | | 240,529 | |
International Paper Co. | | | 3,404 | | | | 164,822 | |
Interpublic Group of Cos., Inc. | | | 3,548 | | | | 115,700 | |
Intuit, Inc. | | | 2,569 | | | | 1,619,138 | |
Intuitive Surgical, Inc. * | | | 3,271 | | | | 1,611,393 | |
Invitation Homes, Inc. REIT | | | 5,548 | | | | 204,388 | |
IQVIA Holdings, Inc. * | | | 1,619 | | | | 407,259 | |
Iron Mountain, Inc. REIT | | | 2,750 | | | | 311,465 | |
J M Smucker Co. | | | 983 | | | | 112,730 | |
Jabil, Inc. | | | 1,190 | | | | 130,043 | |
Jack Henry & Associates, Inc. | | | 595 | | | | 102,953 | |
Jacobs Solutions, Inc. | | | 1,349 | | | | 203,537 | |
JB Hunt Transport Services, Inc. | | | 700 | | | | 121,240 | |
Johnson & Johnson | | | 22,273 | | | | 3,694,200 | |
Johnson Controls International PLC | | | 6,193 | | | | 451,160 | |
JPMorgan Chase & Co. | | | 26,518 | | | | 5,961,246 | |
Juniper Networks, Inc. | | | 2,460 | | | | 95,645 | |
Kellanova | | | 2,491 | | | | 200,800 | |
Kenvue, Inc. | | | 17,612 | | | | 386,583 | |
Keurig Dr Pepper, Inc. | | | 9,725 | | | | 356,032 | |
KeyCorp | | | 9,335 | | | | 159,255 | |
Keysight Technologies, Inc. * | | | 1,623 | | | | 250,137 | |
Kimberly-Clark Corp. | | | 3,070 | | | | 444,106 | |
Kimco Realty Corp. REIT | | | 6,106 | | | | 142,026 | |
Kinder Morgan, Inc. | | | 18,820 | | | | 405,947 | |
KKR & Co., Inc. | | | 5,912 | | | | 731,728 | |
KLA Corp. | | | 1,275 | | | | 1,044,773 | |
Knight-Swift Transportation Holdings, Inc. | | | 1,344 | | | | 70,399 | |
Kraft Heinz Co. | | | 7,856 | | | | 278,338 | |
Kroger Co. | | | 6,500 | | | | 345,865 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
L3Harris Technologies, Inc. | | | 1,733 | | | | 410,149 | |
Labcorp Holdings, Inc. | | | 878 | | | | 201,843 | |
Lam Research Corp. | | | 1,232 | | | | 1,011,484 | |
Lamb Weston Holdings, Inc. | | | 1,248 | | | | 77,276 | |
Las Vegas Sands Corp. | | | 3,681 | | | | 143,522 | |
Leidos Holdings, Inc. | | | 1,302 | | | | 206,380 | |
Lennar Corp., Class A | | | 2,253 | | | | 410,181 | |
Lennox International, Inc. | | | 273 | | | | 161,122 | |
Liberty Media Corp.-Liberty Formula One, Class C * | | | 1,925 | | | | 150,246 | |
Linde PLC | | | 4,506 | | | | 2,154,995 | |
Live Nation Entertainment, Inc. * | | | 1,593 | | | | 155,588 | |
LKQ Corp. | | | 2,163 | | | | 89,959 | |
Lockheed Martin Corp. | | | 2,007 | | | | 1,140,177 | |
Loews Corp. | | | 1,745 | | | | 142,985 | |
Lowe’s Cos., Inc. | | | 5,243 | | | | 1,302,886 | |
LPL Financial Holdings, Inc. | | | 745 | | | | 167,133 | |
LyondellBasell Industries NV, Class A | | | 2,212 | | | | 218,324 | |
M&T Bank Corp. | | | 1,496 | | | | 257,477 | |
Manhattan Associates, Inc. * | | | 562 | | | | 148,610 | |
Marathon Oil Corp. | | | 6,300 | | | | 180,495 | |
Marathon Petroleum Corp. | | | 3,390 | | | | 600,437 | |
Markel Group, Inc. * | | | 122 | | | | 195,283 | |
MarketAxess Holdings, Inc. | | | 295 | | | | 71,505 | |
Marriott International, Inc., Class A | | | 2,349 | | | | 551,287 | |
Marsh & McLennan Cos., Inc. | | | 4,502 | | | | 1,024,250 | |
Martin Marietta Materials, Inc. | | | 614 | | | | 327,974 | |
Marvell Technology, Inc. | | | 7,773 | | | | 592,614 | |
Masco Corp. | | | 1,987 | | | | 158,086 | |
Mastercard, Inc., Class A | | | 7,696 | | | | 3,719,785 | |
Match Group, Inc. * | | | 2,461 | | | | 91,574 | |
McCormick & Co., Inc. | | | 2,315 | | | | 185,269 | |
McDonald’s Corp. | | | 6,643 | | | | 1,917,568 | |
McKesson Corp. | | | 1,219 | | | | 683,957 | |
Merck & Co., Inc. | | | 23,485 | | | | 2,781,798 | |
Meta Platforms, Inc., Class A | | | 20,208 | | | | 10,534,632 | |
MetLife, Inc. | | | 5,676 | | | | 439,776 | |
Mettler-Toledo International, Inc. * | | | 213 | | | | 306,524 | |
MGM Resorts International * | | | 2,607 | | | | 97,997 | |
Microchip Technology, Inc. | | | 5,012 | | | | 411,786 | |
Micron Technology, Inc. | | | 10,381 | | | | 999,067 | |
Microsoft Corp. | | | 65,278 | | | | 27,230,065 | |
MicroStrategy, Inc., Class A * | | | 1,484 | | | | 196,511 | |
Mid-America Apartment Communities, Inc. REIT | | | 1,066 | | | | 173,086 | |
Moderna, Inc. * | | | 2,940 | | | | 227,556 | |
Molina Healthcare, Inc. * | | | 555 | | | | 194,133 | |
Molson Coors Beverage Co., Class B | | | 1,667 | | | | 89,968 | |
See Notes to Financial Statements.
28 | DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Mondelez International, Inc., Class A | | | 12,355 | | | | 887,213 | |
MongoDB, Inc. * | | | 656 | | | | 190,758 | |
Monolithic Power Systems, Inc. | | | 485 | | | | 453,320 | |
Monster Beverage Corp. * | | | 7,032 | | | | 331,418 | |
Moody’s Corp. | | | 1,526 | | | | 744,291 | |
Morgan Stanley | | | 11,556 | | | | 1,197,317 | |
Mosaic Co. | | | 3,036 | | | | 86,739 | |
Motorola Solutions, Inc. | | | 1,543 | | | | 682,068 | |
MSCI, Inc. | | | 758 | | | | 440,087 | |
Nasdaq, Inc. | | | 3,946 | | | | 284,428 | |
NetApp, Inc. | | | 2,018 | | | | 243,613 | |
Netflix, Inc. * | | | 3,986 | | | | 2,795,581 | |
Neurocrine Biosciences, Inc. * | | | 872 | | | | 110,796 | |
Newmont Corp. | | | 10,367 | | | | 553,494 | |
News Corp., Class A | | | 3,651 | | | | 103,433 | |
NextEra Energy, Inc. | | | 18,845 | | | | 1,517,211 | |
NIKE, Inc., Class B | | | 11,351 | | | | 945,765 | |
NiSource, Inc. | | | 3,671 | | | | 121,363 | |
Nordson Corp. | | | 547 | | | | 140,338 | |
Norfolk Southern Corp. | | | 2,066 | | | | 529,227 | |
Northern Trust Corp. | | | 1,900 | | | | 173,299 | |
Northrop Grumman Corp. | | | 1,342 | | | | 702,148 | |
NRG Energy, Inc. | | | 2,270 | | | | 192,973 | |
Nucor Corp. | | | 2,302 | | | | 349,697 | |
NVIDIA Corp. | | | 227,812 | | | | 27,193,918 | |
NVR, Inc. * | | | 33 | | | | 302,691 | |
Occidental Petroleum Corp. | | | 6,107 | | | | 347,977 | |
Okta, Inc. * | | | 1,382 | | | | 108,805 | |
Old Dominion Freight Line, Inc. | | | 1,797 | | | | 346,462 | |
Omnicom Group, Inc. | | | 1,839 | | | | 184,691 | |
ON Semiconductor Corp. * | | | 4,096 | | | | 318,956 | |
ONEOK, Inc. | | | 5,706 | | | | 527,006 | |
Oracle Corp. | | | 15,303 | | | | 2,162,161 | |
O’Reilly Automotive, Inc. * | | | 564 | | | | 637,303 | |
Otis Worldwide Corp. | | | 3,960 | | | | 374,972 | |
Ovintiv, Inc. | | | 2,199 | | | | 94,183 | |
Owens Corning | | | 876 | | | | 147,807 | |
PACCAR, Inc. | | | 4,911 | | | | 472,340 | |
Packaging Corp. of America | | | 879 | | | | 184,186 | |
Palantir Technologies, Inc., Class A * | | | 18,701 | | | | 588,707 | |
Palo Alto Networks, Inc. * | | | 3,005 | | | | 1,089,974 | |
Paramount Global, Class B (b) | | | 3,822 | | | | 40,016 | |
Parker-Hannifin Corp. | | | 1,190 | | | | 714,238 | |
Paychex, Inc. | | | 2,975 | | | | 390,320 | |
Paycom Software, Inc. | | | 479 | | | | 77,972 | |
PayPal Holdings, Inc. * | | | 9,254 | | | | 670,267 | |
PepsiCo, Inc. | | | 12,731 | | | | 2,200,935 | |
Pfizer, Inc. | | | 51,921 | | | | 1,506,228 | |
PG&E Corp. | | | 18,198 | | | | 358,501 | |
Philip Morris International, Inc. | | | 14,383 | | | | 1,773,280 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Phillips 66 | | | 3,963 | | | | 556,049 | |
Pinterest, Inc., Class A * | | | 6,041 | | | | 193,554 | |
PNC Financial Services Group, Inc. | | | 3,728 | | | | 690,016 | |
Pool Corp. | | | 322 | | | | 113,222 | |
PPG Industries, Inc. | | | 2,086 | | | | 270,617 | |
PPL Corp. | | | 6,647 | | | | 212,106 | |
Principal Financial Group, Inc. | | | 2,138 | | | | 174,076 | |
Procter & Gamble Co. | | | 21,825 | | | | 3,743,861 | |
Progressive Corp. | | | 5,318 | | | | 1,341,200 | |
Prologis, Inc. REIT | | | 8,599 | | | | 1,099,124 | |
Prudential Financial, Inc. | | | 3,359 | | | | 406,976 | |
PTC, Inc. * | | | 1,184 | | | | 212,043 | |
Public Service Enterprise Group, Inc. | | | 4,702 | | | | 379,687 | |
Public Storage REIT | | | 1,483 | | | | 509,737 | |
PulteGroup, Inc. | | | 1,967 | | | | 258,956 | |
Pure Storage, Inc., Class A * | | | 2,867 | | | | 147,048 | |
Qorvo, Inc. * | | | 940 | | | | 108,937 | |
QUALCOMM, Inc. | | | 10,268 | | | | 1,799,980 | |
Quanta Services, Inc. | | | 1,316 | | | | 362,071 | |
Quest Diagnostics, Inc. | | | 958 | | | | 150,377 | |
Raymond James Financial, Inc. | | | 1,765 | | | | 211,041 | |
RB Global, Inc. | | | 1,613 | | | | 138,950 | |
Realty Income Corp. REIT | | | 8,046 | | | | 499,737 | |
Regency Centers Corp. REIT | | | 1,482 | | | | 107,727 | |
Regeneron Pharmaceuticals, Inc. * | | | 1,021 | | | | 1,209,568 | |
Regions Financial Corp. | | | 8,462 | | | | 198,180 | |
Reliance, Inc. | | | 486 | | | | 139,312 | |
Republic Services, Inc. | | | 2,039 | | | | 424,540 | |
ResMed, Inc. | | | 1,342 | | | | 328,817 | |
Revvity, Inc. | | | 1,082 | | | | 132,588 | |
Rivian Automotive, Inc., Class A * (b) | | | 5,777 | | | | 81,629 | |
Robinhood Markets, Inc., Class A * | | | 3,893 | | | | 78,327 | |
ROBLOX Corp., Class A * | | | 3,896 | | | | 171,385 | |
Rockwell Automation, Inc. | | | 1,022 | | | | 278,015 | |
Roku, Inc. * | | | 1,079 | | | | 73,124 | |
Rollins, Inc. | | | 2,776 | | | | 139,300 | |
Roper Technologies, Inc. | | | 959 | | | | 531,679 | |
Ross Stores, Inc. | | | 3,026 | | | | 455,746 | |
Royal Caribbean Cruises Ltd. * | | | 2,274 | | | | 374,346 | |
Royalty Pharma PLC, Class A | | | 3,935 | | | | 114,233 | |
RPM International, Inc. | | | 1,156 | | | | 134,385 | |
RTX Corp. | | | 12,207 | | | | 1,505,611 | |
S&P Global, Inc. | | | 2,904 | | | | 1,490,449 | |
Salesforce, Inc. | | | 8,879 | | | | 2,245,499 | |
Samsara, Inc., Class A * | | | 1,702 | | | | 69,901 | |
SBA Communications Corp. REIT | | | 1,048 | | | | 237,540 | |
Schlumberger NV | | | 13,058 | | | | 574,421 | |
See Notes to Financial Statements.
DBX ETF Trust | 29
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Seagate Technology Holdings PLC | | | 1,747 | | | | 173,914 | |
SEI Investments Co. | | | 1,081 | | | | 73,108 | |
Sempra | | | 5,682 | | | | 466,947 | |
ServiceNow, Inc. * | | | 1,868 | | | | 1,597,140 | |
Sherwin-Williams Co. | | | 2,240 | | | | 827,389 | |
Simon Property Group, Inc. REIT | | | 3,100 | | | | 518,785 | |
Skyworks Solutions, Inc. | | | 1,483 | | | | 162,522 | |
Snap, Inc., Class A * | | | 9,647 | | | | 90,103 | |
Snap-on, Inc. | | | 461 | | | | 130,804 | |
Snowflake, Inc., Class A * | | | 2,952 | | | | 337,207 | |
Solventum Corp. * | | | 1,244 | | | | 79,753 | |
Southern Co. | | | 10,026 | | | | 866,246 | |
Southwest Airlines Co. | | | 1,346 | | | | 38,926 | |
SS&C Technologies Holdings, Inc. | | | 2,277 | | | | 170,980 | |
Stanley Black & Decker, Inc. | | | 1,483 | | | | 151,800 | |
Starbucks Corp. | | | 10,417 | | | | 985,136 | |
State Street Corp. | | | 2,864 | | | | 249,454 | |
Steel Dynamics, Inc. | | | 1,515 | | | | 181,058 | |
STERIS PLC | | | 878 | | | | 211,686 | |
Stryker Corp. | | | 3,158 | | | | 1,138,206 | |
Sun Communities, Inc. REIT | | | 1,073 | | | | 145,113 | |
Super Micro Computer, Inc. * | | | 468 | | | | 204,844 | |
Synchrony Financial | | | 4,111 | | | | 206,619 | |
Synopsys, Inc. * | | | 1,415 | | | | 735,206 | |
Sysco Corp. | | | 4,542 | | | | 354,140 | |
T. Rowe Price Group, Inc. | | | 2,024 | | | | 214,625 | |
Take-Two Interactive Software, Inc. * | | | 1,635 | | | | 264,396 | |
Targa Resources Corp. | | | 1,986 | | | | 291,743 | |
Target Corp. | | | 4,297 | | | | 660,105 | |
TE Connectivity Ltd. | | | 2,898 | | | | 445,133 | |
Teledyne Technologies, Inc. * | | | 434 | | | | 187,835 | |
Teleflex, Inc. | | | 449 | | | | 110,081 | |
Teradyne, Inc. | | | 1,481 | | | | 202,497 | |
Tesla, Inc. * | | | 26,558 | | | | 5,686,333 | |
Texas Instruments, Inc. | | | 8,333 | | | | 1,786,095 | |
Texas Pacific Land Corp. | | | 195 | | | | 169,434 | |
Textron, Inc. | | | 1,937 | | | | 176,654 | |
Thermo Fisher Scientific, Inc. | | | 3,500 | | | | 2,152,745 | |
TJX Cos., Inc. | | | 10,532 | | | | 1,235,088 | |
T-Mobile US, Inc. | | | 5,071 | | | | 1,007,709 | |
Toast, Inc., Class A * | | | 3,064 | | | | 76,171 | |
Toro Co. | | | 899 | | | | 83,247 | |
Tractor Supply Co. | | | 925 | | | | 247,484 | |
Trade Desk, Inc., Class A * | | | 4,034 | | | | 421,674 | |
Tradeweb Markets, Inc., Class A | | | 977 | | | | 115,520 | |
TransDigm Group, Inc. | | | 517 | | | | 709,950 | |
TransUnion | | | 1,864 | | | | 180,454 | |
Travelers Cos., Inc. | | | 2,069 | | | | 471,877 | |
Trimble, Inc. * | | | 2,360 | | | | 133,788 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Truist Financial Corp. | | | 12,118 | | | | 538,766 | |
Twilio, Inc., Class A * | | | 1,506 | | | | 94,517 | |
Tyler Technologies, Inc. * | | | 421 | | | | 247,493 | |
Tyson Foods, Inc., Class A | | | 2,530 | | | | 162,704 | |
Uber Technologies, Inc. * | | | 17,150 | | | | 1,254,180 | |
UDR, Inc. REIT | | | 2,851 | | | | 126,898 | |
U-Haul Holding Co. | | | 836 | | | | 57,141 | |
Ulta Beauty, Inc. * | | | 438 | | | | 154,544 | |
Union Pacific Corp. | | | 5,659 | | | | 1,449,213 | |
United Parcel Service, Inc., Class B | | | 6,591 | | | | 847,273 | |
United Rentals, Inc. | | | 644 | | | | 477,371 | |
United Therapeutics Corp. * | | | 406 | | | | 147,601 | |
UnitedHealth Group, Inc. | | | 8,522 | | | | 5,029,684 | |
Universal Health Services, Inc., Class B | | | 539 | | | | 128,266 | |
US Bancorp | | | 14,308 | | | | 675,767 | |
Valero Energy Corp. | | | 2,887 | | | | 423,610 | |
Veeva Systems, Inc., Class A * | | | 1,402 | | | | 303,449 | |
Ventas, Inc. REIT | | | 3,607 | | | | 224,031 | |
Veralto Corp. | | | 2,086 | | | | 234,529 | |
VeriSign, Inc. * | | | 877 | | | | 161,280 | |
Verisk Analytics, Inc. | | | 1,310 | | | | 357,394 | |
Verizon Communications, Inc. | | | 38,400 | | | | 1,604,352 | |
Vertex Pharmaceuticals, Inc. * | | | 2,380 | | | | 1,180,218 | |
Vertiv Holdings Co., Class A | | | 3,193 | | | | 265,115 | |
Viatris, Inc. | | | 10,835 | | | | 130,887 | |
VICI Properties, Inc. REIT | | | 9,993 | | | | 334,566 | |
Visa, Inc., Class A | | | 14,576 | | | | 4,028,369 | |
Vistra Corp. | | | 3,459 | | | | 295,502 | |
Vulcan Materials Co. | | | 1,265 | | | | 310,191 | |
W.R. Berkley Corp. | | | 2,579 | | | | 153,966 | |
W.W. Grainger, Inc. | | | 414 | | | | 407,757 | |
Walgreens Boots Alliance, Inc. | | | 6,493 | | | | 60,060 | |
Walmart, Inc. | | | 40,724 | | | | 3,145,115 | |
Walt Disney Co. | | | 16,725 | | | | 1,511,606 | |
Warner Bros Discovery, Inc. * | | | 21,176 | | | | 166,020 | |
Waste Management, Inc. | | | 3,764 | | | | 798,119 | |
Waters Corp. * | | | 559 | | | | 193,610 | |
Watsco, Inc. | | | 274 | | | | 130,265 | |
WEC Energy Group, Inc. | | | 2,821 | | | | 262,438 | |
Wells Fargo & Co. | | | 32,503 | | | | 1,900,450 | |
Welltower, Inc. REIT | | | 5,716 | | | | 689,807 | |
West Pharmaceutical Services, Inc. | | | 663 | | | | 207,937 | |
Western Digital Corp. * | | | 3,046 | | | | 199,787 | |
Westinghouse Air Brake Technologies Corp. | | | 1,594 | | | | 270,295 | |
Westlake Corp. | | | 302 | | | | 43,923 | |
Weyerhaeuser Co. REIT | | | 6,764 | | | | 206,234 | |
Williams Cos., Inc. | | | 11,594 | | | | 530,657 | |
Williams-Sonoma, Inc. | | | 1,098 | | | | 147,494 | |
See Notes to Financial Statements.
30 | DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Workday, Inc., Class A * | | | 1,892 | | | | 497,955 | |
WP Carey, Inc. REIT | | | 2,112 | | | | 126,762 | |
Wynn Resorts Ltd. | | | 983 | | | | 75,573 | |
Xcel Energy, Inc. | | | 4,997 | | | | 305,966 | |
Xylem, Inc. | | | 2,132 | | | | 293,214 | |
Yum! Brands, Inc. | | | 2,554 | | | | 344,586 | |
Zebra Technologies Corp., Class A * | | | 431 | | | | 148,859 | |
Zillow Group, Inc., Class C * | | | 1,252 | | | | 69,236 | |
Zimmer Biomet Holdings, Inc. | | | 1,843 | | | | 212,793 | |
Zoetis, Inc. | | | 4,203 | | | | 771,208 | |
Zoom Video Communications, Inc., Class A * | | | 2,376 | | | | 164,134 | |
Zscaler, Inc. * | | | 875 | | | | 174,983 | |
| | |
(Cost $320,099,785) | | | | | | | 446,254,885 | |
| | |
Uruguay — 0.1% | | | | | | | | |
MercadoLibre, Inc. * | | | | | | | | |
| | |
(Cost $483,934) | | | 422 | | | | 870,021 | |
| | |
TOTAL COMMON STOCKS | | | | | | | | |
| | |
(Cost $450,384,263) | | | | | | | 599,153,593 | |
| | |
PREFERRED STOCKS — 0.1% | | | | | | | | |
Germany — 0.1% | | | | | | | | |
Bayerische Motoren Werke AG | | | 458 | | | | 39,644 | |
Dr Ing hc F Porsche AG, 144A | | | 998 | | | | 78,256 | |
Henkel AG & Co. KGaA | | | 1,575 | | | | 144,281 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Porsche Automobil Holding SE | | | 1,415 | | | | 63,700 | |
Sartorius AG | | | 259 | | | | 71,500 | |
Volkswagen AG | | | 1,873 | | | | 199,403 | |
| | |
(Cost $827,391) | | | | | | | 596,784 | |
| | |
WARRANTS — 0.0% | | | | | | | | |
Canada — 0.0% | | | | | | | | |
Constellation Software, Inc.* (d), expires 8/22/28 | | | | | | | | |
| | |
(Cost $0) | | | 214 | | | | 0 | |
| | |
SECURITIES LENDING COLLATERAL — 0.0% | | | | | | | | |
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (e)(f) | | | | | | | | |
| | |
(Cost $213,692) | | | 213,692 | | | | 213,692 | |
| | |
CASH EQUIVALENTS — 0.3% | | | | | | | | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (e) | | | | | | | | |
| | |
(Cost $1,730,588) | | | 1,730,588 | | | | 1,730,588 | |
| | |
TOTAL INVESTMENTS — 99.8% | | | | | | | | |
| | |
(Cost $453,155,934) | | | | | | | 601,694,657 | |
| | |
Other assets and liabilities, net — 0.2% | | | | | | | 1,397,603 | |
| | |
NET ASSETS — 100.0% | | | | | | | 603,092,260 | |
A summary of the Fund’s transactions with affiliated investments during the year ended August 31, 2024 is as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Value ($) at 8/31/2023 | | | Purchases Cost
($) | | | Sales
Proceeds ($) | | | Net Realized
Gain/(Loss)
($) | | | Net Change in Unrealized Appreciation (Depreciation) ($) | | | Income ($) | | | Capital Gain Distributions ($) | | | Number of Shares at 8/31/2024 | | | Value ($) at
8/31/2024 | |
| | COMMON STOCKS — 0.1% | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Germany — 0.1% | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Deutsche Bank AG (c) | | | | | | | | | | | | | | | | | | | | | |
| | 211,696 | | | | — | | | | (15,650 | ) | | | 5,602 | | | | 97,484 | | | | 9,086 | | | | — | | | | 18,324 | | | | 299,132 | |
| | | | | | |
| | SECURITIES LENDING COLLATERAL — 0.0% | | | | | | | | | | | | | | | | | | | | | | | | | |
| | DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (e)(f) | |
| | — | | | | 213,692 | (g) | | | — | | | | — | | | | — | | | | 9,699 | | | | — | | | | 213,692 | | | | 213,692 | |
| | | | | | |
| | CASH EQUIVALENTS — 0.3% | | | | | | | | | | | | | | | | | | | | | | | | | |
| | DWS Government Money Market Series “Institutional Shares”, 5.24% (e) | |
| | 820,287 | | | | 12,941,893 | | | | (12,031,592 | ) | | | — | | | | — | | | | 69,271 | | | | — | | | | 1,730,588 | | | | 1,730,588 | |
| | | | | | | | | |
| | 1,031,983 | | | | 13,155,585 | | | | (12,047,242 | ) | | | 5,602 | | | | 97,484 | | | | 88,056 | | | | — | | | | 1,962,604 | | | | 2,243,412 | |
| * | 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. |
See Notes to Financial Statements.
DBX ETF Trust | 31
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
August 31, 2024
| (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 August 31, 2024 amounted to $206,786, which is 0.0% of net assets. |
| (c) | Affiliated issuer. This security is owned in proportion with its representation in the index. |
| (d) | Investment was valued using significant unobservable inputs. |
| (e) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
| (f) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. |
| (g) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the year ended August 31, 2024. |
| | |
| ADR: | | American Depositary Receipt |
| CDI: | | Chess Depositary Interests |
| CVA: | | Credit Valuation Adjustment |
| REIT: | | Real Estate Investment Trust |
| 144A: | | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions |
| | exempt from registration, normally to qualified institutional buyers. |
Securities are listed in country of domicile.
At August 31, 2024, open futures contracts purchased were as follows:
| | | | | | | | | | | | | | | | | | |
| Contract Description | | Currency | | Number of
Contracts | | Notional
Amount ($) | | | Contract Value
($) | | | Expiration
Date | | Unrealized
Appreciation ($) | |
MINI S&P/TSX60 Futures | | CAD | | 2 | | | 96,357 | | | | 104,018 | | | 9/19/2024 | | | 7,661 | |
MSCI EAFE Futures | | USD | | 6 | | | 703,929 | | | | 737,550 | | | 9/20/2024 | | | 33,621 | |
S&P 500 E-Mini Futures | | USD | | 8 | | | 2,221,861 | | | | 2,264,400 | | | 9/20/2024 | | | 42,539 | |
| | | | | | | |
Total unrealized appreciation | | | | | | | | | | | | | | | | | 83,821 | |
For information on the Fund’s policy and additional disclosures regarding futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
| | |
| Currency Abbreviations |
| |
CAD | | Canadian Dollar |
| |
USD | | U.S. Dollar |
See Notes to Financial Statements.
32 | DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Kokusai Equity ETF (Continued)
August 31, 2024
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of August 31, 2024 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
| | | | | | | | | | | | | | | | |
| Assets | | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
Common Stocks (a) | | $ | 599,153,593 | | | $ | — | | | $ | — | | | $ | 599,153,593 | |
Preferred Stocks | | | 596,784 | | | | — | | | | — | | | | 596,784 | |
Warrants | | | — | | | | — | | | | 0 | | | | 0 | |
Short-Term Investments (a) | | | 1,944,280 | | | | — | | | | — | | | | 1,944,280 | |
Derivatives (b) | | | | | | | | | | | | | | | | |
Futures Contracts | | | 83,821 | | | | — | | | | — | | | | 83,821 | |
| | | | | |
TOTAL | | $ | 601,778,478 | | | $ | — | | | $ | 0 | | | $ | 601,778,478 | |
| (a) | See Schedule of Investments for additional detailed categorizations. |
| (b) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
See Notes to Financial Statements.
DBX ETF Trust | 33
Schedule of Investments
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | | Value $ |
| | |
COMMON STOCKS — 99.6% | | | | | | | | |
Communication Services — 11.8% | | | | | | | | |
Alphabet, Inc., Class A | | | 9,543 | | | | 1,559,135 | |
Alphabet, Inc., Class C | | | 8,567 | | | | 1,414,498 | |
AT&T, Inc. | | | 22,109 | | | | 439,969 | |
Charter Communications, Inc., Class A * | | | 245 | | | | 85,147 | |
Comcast Corp., Class A | | | 14,048 | | | | 555,880 | |
Electronic Arts, Inc. | | | 894 | | | | 135,727 | |
Fox Corp., Class A | | | 473 | | | | 19,568 | |
Live Nation Entertainment, Inc. * | | | 460 | | | | 44,928 | |
Meta Platforms, Inc., Class A | | | 6,356 | | | | 3,313,446 | |
New York Times Co., Class A | | | 490 | | | | 26,916 | |
Verizon Communications, Inc. | | | 11,273 | | | | 470,986 | |
Warner Bros Discovery, Inc. * | | | 3,151 | | | | 24,704 | |
| | |
(Cost $6,935,903) | | | | | | | 8,090,904 | |
| | |
Consumer Discretionary — 15.6% | | | | | | | | |
Airbnb, Inc., Class A * | | | 1,207 | | | | 141,593 | |
Amazon.com, Inc. * | | | 13,403 | | | | 2,392,436 | |
Aptiv PLC * | | | 631 | | | | 45,135 | |
Aramark | | | 699 | | | | 25,604 | |
AutoZone, Inc. * | | | 76 | | | | 241,792 | |
Bath & Body Works, Inc. | | | 383 | | | | 11,781 | |
Best Buy Co., Inc. | | | 1,815 | | | | 182,226 | |
Booking Holdings, Inc. | | | 114 | | | | 445,652 | |
BorgWarner, Inc. | | | 1,298 | | | | 44,223 | |
Burlington Stores, Inc. * | | | 112 | | | | 30,043 | |
Carnival Corp. * | | | 1,360 | | | | 22,440 | |
Chipotle Mexican Grill, Inc. * | | | 1,263 | | | | 70,829 | |
Coupang, Inc. * | | | 2,831 | | | | 62,707 | |
Crocs, Inc. * | | | 174 | | | | 25,434 | |
D.R. Horton, Inc. | | | 1,325 | | | | 250,107 | |
Darden Restaurants, Inc. | | | 551 | | | | 87,141 | |
Deckers Outdoor Corp. * | | | 87 | | | | 83,458 | |
Dick’s Sporting Goods, Inc. | | | 325 | | | | 77,012 | |
Domino’s Pizza, Inc. | | | 48 | | | | 19,882 | |
eBay, Inc. | | | 999 | | | | 59,041 | |
Expedia Group, Inc. * | | | 662 | | | | 92,078 | |
Five Below, Inc. * | | | 171 | | | | 12,899 | |
Floor & Decor Holdings, Inc., Class A * | | | 294 | | | | 33,057 | |
Gap, Inc. | | | 1,008 | | | | 22,609 | |
Garmin Ltd. | | | 527 | | | | 96,594 | |
General Motors Co. | | | 3,097 | | | | 154,169 | |
Gentex Corp. | | | 977 | | | | 30,609 | |
Genuine Parts Co. | | | 389 | | | | 55,728 | |
Grand Canyon Education, Inc. * | | | 132 | | | | 19,141 | |
H&R Block, Inc. | | | 974 | | | | 61,664 | |
| | | | | | | | |
| | | Number
of Shares | | | Value $ |
| | |
Home Depot, Inc. | | | 3,491 | | | | 1,286,434 | |
Las Vegas Sands Corp. | | | 644 | | | | 25,110 | |
Lear Corp. | | | 298 | | | | 34,762 | |
Lennar Corp., Class A | | | 1,678 | | | | 305,497 | |
LKQ Corp. | | | 434 | | | | 18,050 | |
Lowe’s Cos., Inc. | | | 2,060 | | | | 511,910 | |
Lululemon Athletica, Inc. * | | | 386 | | | | 100,155 | |
Macy’s, Inc. | | | 1,106 | | | | 17,220 | |
Marriott International, Inc., Class A | | | 314 | | | | 73,693 | |
McDonald’s Corp. | | | 934 | | | | 269,608 | |
MGM Resorts International * | | | 969 | | | | 36,425 | |
Mohawk Industries, Inc. * | | | 123 | | | | 19,082 | |
Murphy USA, Inc. | | | 71 | | | | 36,894 | |
NIKE, Inc., Class B | | | 2,941 | | | | 245,044 | |
NVR, Inc. * | | | 17 | | | | 155,932 | |
O’Reilly Automotive, Inc. * | | | 219 | | | | 247,463 | |
Polaris, Inc. | | | 268 | | | | 22,686 | |
Pool Corp. | | | 119 | | | | 41,843 | |
PulteGroup, Inc. | | | 1,146 | | | | 150,871 | |
PVH Corp. | | | 206 | | | | 20,330 | |
Ralph Lauren Corp. | | | 183 | | | | 31,341 | |
Ross Stores, Inc. | | | 1,268 | | | | 190,973 | |
Skechers U.S.A., Inc., Class A * | | | 684 | | | | 46,840 | |
Starbucks Corp. | | | 3,690 | | | | 348,963 | |
Tapestry, Inc. | | | 1,518 | | | | 62,192 | |
Tesla, Inc. * | | | 1,709 | | | | 365,914 | |
Texas Roadhouse, Inc. | | | 210 | | | | 35,438 | |
Thor Industries, Inc. | | | 190 | | | | 20,379 | |
TJX Cos., Inc. | | | 4,840 | | | | 567,587 | |
Toll Brothers, Inc. | | | 344 | | | | 49,560 | |
TopBuild Corp. * | | | 93 | | | | 36,551 | |
Tractor Supply Co. | | | 404 | | | | 108,090 | |
Ulta Beauty, Inc. * | | | 283 | | | | 99,854 | |
Valvoline, Inc. * | | | 534 | | | | 22,535 | |
Williams-Sonoma, Inc. | | | 840 | | | | 112,837 | |
Wynn Resorts Ltd. | | | 301 | | | | 23,141 | |
Yum! Brands, Inc. | | | 281 | | | | 37,913 | |
| | |
(Cost $9,908,151) | | | | | | | 10,676,201 | |
| | |
Consumer Staples — 10.9% | | | | | | | | |
Albertsons Cos., Inc., Class A | | | 2,041 | | | | 40,044 | |
Altria Group, Inc. | | | 8,084 | | | | 434,677 | |
Archer-Daniels-Midland Co. | | | 3,584 | | | | 218,588 | |
BJ’s Wholesale Club Holdings, Inc. * | | | 875 | | | | 69,965 | |
Campbell Soup Co. | | | 336 | | | | 16,706 | |
Casey’s General Stores, Inc. | | | 217 | | | | 78,621 | |
Clorox Co. | | | 276 | | | | 43,694 | |
Coca-Cola Consolidated, Inc. | | | 22 | | | | 29,533 | |
Colgate-Palmolive Co. | | | 1,620 | | | | 172,530 | |
See Notes to Financial Statements.
34 | DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | | Value $ |
Costco Wholesale Corp. | | | 1,786 | | | | 1,593,791 | |
Dollar Tree, Inc. * | | | 745 | | | | 62,945 | |
Estee Lauder Cos., Inc., Class A | | | 263 | | | | 24,107 | |
General Mills, Inc. | | | 947 | | | | 68,459 | |
Hershey Co. | | | 341 | | | | 65,833 | |
Ingredion, Inc. | | | 217 | | | | 29,145 | |
J M Smucker Co. | | | 166 | | | | 19,037 | |
Kellanova | | | 517 | | | | 41,675 | |
Kenvue, Inc. | | | 6,214 | | | | 136,397 | |
Kimberly-Clark Corp. | | | 810 | | | | 117,175 | |
Kroger Co. | | | 3,587 | | | | 190,864 | |
Molson Coors Beverage Co., Class B | | | 398 | | | | 21,480 | |
Monster Beverage Corp. * | | | 1,897 | | | | 89,406 | |
Performance Food Group Co. * | | | 680 | | | | 50,755 | |
Philip Morris International, Inc. | | | 3,039 | | | | 374,678 | |
Procter & Gamble Co. | | | 5,690 | | | | 976,063 | |
Sysco Corp. | | | 3,117 | | | | 243,032 | |
Target Corp. | | | 1,851 | | | | 284,351 | |
Tyson Foods, Inc., Class A | | | 445 | | | | 28,618 | |
US Foods Holding Corp. * | | | 404 | | | | 23,921 | |
Walmart, Inc. | | | 24,245 | | | | 1,872,441 | |
| | |
(Cost $6,342,278) | | | | | | | 7,418,531 | |
| | |
Energy — 7.9% | | | | | | | | |
Antero Resources Corp. * | | | 452 | | | | 12,199 | |
APA Corp. | | | 692 | | | | 19,715 | |
Baker Hughes Co. | | | 1,597 | | | | 56,166 | |
Cheniere Energy, Inc. | | | 243 | | | | 45,018 | |
Chesapeake Energy Corp. (a) | | | 508 | | | | 37,841 | |
Chevron Corp. | | | 6,746 | | | | 998,071 | |
Chord Energy Corp. | | | 237 | | | | 35,178 | |
ConocoPhillips | | | 4,872 | | | | 554,385 | |
Coterra Energy, Inc. | | | 3,053 | | | | 74,279 | |
Devon Energy Corp. | | | 2,993 | | | | 134,026 | |
Diamondback Energy, Inc. | | | 726 | | | | 141,650 | |
EOG Resources, Inc. | | | 2,639 | | | | 339,956 | |
Exxon Mobil Corp. | | | 18,786 | | | | 2,215,621 | |
Halliburton Co. | | | 1,424 | | | | 44,272 | |
HF Sinclair Corp. | | | 279 | | | | 13,710 | |
Marathon Oil Corp. | | | 2,772 | | | | 79,418 | |
Marathon Petroleum Corp. | | | 1,138 | | | | 201,563 | |
Occidental Petroleum Corp. | | | 809 | | | | 46,097 | |
Ovintiv, Inc. | | | 466 | | | | 19,959 | |
Phillips 66 | | | 657 | | | | 92,184 | |
Schlumberger NV | | | 2,299 | | | | 101,133 | |
Valero Energy Corp. | | | 899 | | | | 131,910 | |
| | |
(Cost $5,242,717) | | | | | | | 5,394,351 | |
| | |
Financials — 12.8% | | | | | | | | |
Affiliated Managers Group, Inc. | | | 346 | | | | 60,145 | |
| | | | | | | | |
| | | Number
of Shares | | | Value $ |
Aon PLC, Class A | | | 629 | | | | 216,200 | |
Arch Capital Group Ltd. * | | | 1,701 | | | | 192,366 | |
Berkshire Hathaway, Inc., Class B * | | | 7,914 | | | | 3,766,431 | |
Blackstone, Inc. | | | 235 | | | | 33,455 | |
Capital One Financial Corp. | | | 637 | | | | 93,594 | |
Cboe Global Markets, Inc. | | | 256 | | | | 52,582 | |
Cincinnati Financial Corp. | | | 434 | | | | 59,471 | |
Coinbase Global, Inc., Class A * | | | 136 | | | | 24,937 | |
Evercore, Inc., Class A | | | 261 | | | | 64,138 | |
Everest Group Ltd. | | | 107 | | | | 41,970 | |
FactSet Research Systems, Inc. | | | 146 | | | | 61,735 | |
First Citizens BancShares, Inc., Class A | | | 47 | | | | 95,443 | |
Houlihan Lokey, Inc. | | | 138 | | | | 21,614 | |
Jack Henry & Associates, Inc. | | | 194 | | | | 33,568 | |
Janus Henderson Group PLC | | | 356 | | | | 13,389 | |
Kinsale Capital Group, Inc. | | | 56 | | | | 27,501 | |
LPL Financial Holdings, Inc. | | | 434 | | | | 97,364 | |
MarketAxess Holdings, Inc. | | | 142 | | | | 34,419 | |
Marsh & McLennan Cos., Inc. | | | 1,771 | | | | 402,920 | |
Mastercard, Inc., Class A | | | 2,157 | | | | 1,042,564 | |
MGIC Investment Corp. | | | 3,115 | | | | 79,214 | |
Moody’s Corp. | | | 486 | | | | 237,042 | |
MSCI, Inc. | | | 265 | | | | 153,856 | |
PayPal Holdings, Inc. * | | | 2,729 | | | | 197,662 | |
Progressive Corp. | | | 157 | | | | 39,595 | |
RenaissanceRe Holdings Ltd. | | | 148 | | | | 37,709 | |
RLI Corp. | | | 109 | | | | 16,797 | |
S&P Global, Inc. | | | 97 | | | | 49,784 | |
SEI Investments Co. | | | 616 | | | | 41,660 | |
Synchrony Financial | | | 1,487 | | | | 74,737 | |
T. Rowe Price Group, Inc. | | | 1,483 | | | | 157,257 | |
Visa, Inc., Class A | | | 4,234 | | | | 1,170,151 | |
Willis Towers Watson PLC | | | 63 | | | | 18,403 | |
| | |
(Cost $7,539,126) | | | | | | | 8,709,673 | |
| | |
Health Care — 13.8% | | | | | | | | |
Abbott Laboratories | | | 1,330 | | | | 150,649 | |
AbbVie, Inc. | | | 83 | | | | 16,294 | |
Agilent Technologies, Inc. | | | 493 | | | | 70,459 | |
Align Technology, Inc. * | | | 157 | | | | 37,243 | |
Amgen, Inc. | | | 64 | | | | 21,365 | |
Biogen, Inc. * | | | 67 | | | | 13,719 | |
Bristol-Myers Squibb Co. | | | 7,526 | | | | 375,924 | |
Cardinal Health, Inc. | | | 2,340 | | | | 263,765 | |
Cencora, Inc. | | | 1,171 | | | | 280,536 | |
Centene Corp. * | | | 2,843 | | | | 224,114 | |
Chemed Corp. | | | 48 | | | | 28,136 | |
Cigna Group | | | 1,202 | | | | 434,896 | |
CVS Health Corp. | | | 2,319 | | | | 132,740 | |
See Notes to Financial Statements.
DBX ETF Trust | 35
Schedule of Investments
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | | Value $ |
Edwards Lifesciences Corp. * | | | 602 | | | | 42,116 | |
Elevance Health, Inc. | | | 818 | | | | 455,536 | |
Eli Lilly & Co. | | | 31 | | | | 29,761 | |
Exelixis, Inc. * | | | 693 | | | | 18,039 | |
GE HealthCare Technologies, Inc. | | | 1,150 | | | | 97,543 | |
Gilead Sciences, Inc. | | | 2,538 | | | | 200,502 | |
HCA Healthcare, Inc. | | | 555 | | | | 219,552 | |
Hologic, Inc. * | | | 404 | | | | 32,821 | |
Humana, Inc. | | | 773 | | | | 274,005 | |
Incyte Corp. * | | | 605 | | | | 39,724 | |
Intuitive Surgical, Inc. * | | | 232 | | | | 114,290 | |
Johnson & Johnson | | | 10,832 | | | | 1,796,595 | |
Labcorp Holdings, Inc. | | | 206 | | | | 47,357 | |
McKesson Corp. | | | 1,337 | | | | 750,164 | |
Medpace Holdings, Inc. * | | | 67 | | | | 23,803 | |
Merck & Co., Inc. | | | 2,326 | | | | 275,515 | |
Mettler-Toledo International, Inc. * | | | 53 | | | | 76,271 | |
Moderna, Inc. * | | | 879 | | | | 68,035 | |
Molina Healthcare, Inc. * | | | 141 | | | | 49,320 | |
Pfizer, Inc. | | | 13,210 | | | | 383,222 | |
Premier, Inc., Class A | | | 843 | | | | 17,172 | |
Quest Diagnostics, Inc. | | | 135 | | | | 21,191 | |
Regeneron Pharmaceuticals, Inc. * | | | 237 | | | | 280,771 | |
Royalty Pharma PLC, Class A | | | 789 | | | | 22,905 | |
Solventum Corp. * | | | 1,072 | | | | 68,726 | |
United Therapeutics Corp. * | | | 195 | | | | 70,892 | |
UnitedHealth Group, Inc. | | | 2,773 | | | | 1,636,625 | |
Universal Health Services, Inc., Class B | | | 176 | | | | 41,883 | |
Vertex Pharmaceuticals, Inc. * | | | 313 | | | | 155,214 | |
Waters Corp. * | | | 51 | | | | 17,664 | |
West Pharmaceutical Services, Inc. | | | 182 | | | | 57,081 | |
| | |
(Cost $8,598,352) | | | | | | | 9,434,135 | |
| | |
Industrials — 7.9% | | | | | | | | |
3M Co. | | | 629 | | | | 84,720 | |
A O Smith Corp. | | | 603 | | | | 50,483 | |
Acuity Brands, Inc. | | | 167 | | | | 42,535 | |
AECOM | | | 240 | | | | 24,034 | |
AGCO Corp. | | | 430 | | | | 39,147 | |
Alaska Air Group, Inc. * | | | 601 | | | | 21,702 | |
Allison Transmission Holdings, Inc. | | | 241 | | | | 22,353 | |
American Airlines Group, Inc. * | | | 1,794 | | | | 19,052 | |
Automatic Data Processing, Inc. | | | 502 | | | | 138,507 | |
Builders FirstSource, Inc. * | | | 650 | | | | 113,100 | |
C.H. Robinson Worldwide, Inc. | | | 401 | | | | 41,507 | |
Carlisle Cos., Inc. | | | 81 | | | | 34,328 | |
| | | | | | | | |
| | | Number
of Shares | | | Value $ |
Caterpillar, Inc. | | | 1,222 | | | | 435,154 | |
Cintas Corp. | | | 64 | | | | 51,528 | |
Comfort Systems USA, Inc. | | | 73 | | | | 25,807 | |
Copart, Inc. * | | | 850 | | | | 45,016 | |
Core & Main, Inc., Class A * | | | 669 | | | | 32,132 | |
CSX Corp. | | | 1,303 | | | | 44,654 | |
Cummins, Inc. | | | 516 | | | | 161,431 | |
Deere & Co. | | | 435 | | | | 167,797 | |
Delta Air Lines, Inc. | | | 2,440 | | | | 103,676 | |
Donaldson Co., Inc. | | | 414 | | | | 30,110 | |
EMCOR Group, Inc. | | | 215 | | | | 84,508 | |
Expeditors International of Washington, Inc. | | | 788 | | | | 97,247 | |
Fastenal Co. | | | 1,877 | | | | 128,161 | |
FedEx Corp. | | | 799 | | | | 238,717 | |
Ferguson Enterprises, Inc. | | | 889 | | | | 182,876 | |
FTI Consulting, Inc. * | | | 96 | | | | 21,918 | |
GE Vernova, Inc. * | | | 425 | | | | 85,425 | |
Genpact Ltd. | | | 434 | | | | 17,026 | |
Graco, Inc. | | | 539 | | | | 44,926 | |
Huntington Ingalls Industries, Inc. | | | 73 | | | | 20,642 | |
Illinois Tool Works, Inc. | | | 825 | | | | 208,873 | |
ITT, Inc. | | | 229 | | | | 31,881 | |
Jacobs Solutions, Inc. | | | 180 | | | | 27,158 | |
JB Hunt Transport Services, Inc. | | | 189 | | | | 32,735 | |
Knight-Swift Transportation Holdings, Inc. | | | 365 | | | | 19,119 | |
Landstar System, Inc. | | | 189 | | | | 34,504 | |
Lincoln Electric Holdings, Inc. | | | 147 | | | | 28,461 | |
Lockheed Martin Corp. | | | 942 | | | | 535,150 | |
Masco Corp. | | | 668 | | | | 53,146 | |
MasTec, Inc. * | | | 136 | | | | 15,386 | |
MSC Industrial Direct Co., Inc., Class A | | | 241 | | | | 19,820 | |
Old Dominion Freight Line, Inc. | | | 593 | | | | 114,330 | |
Oshkosh Corp. | | | 237 | | | | 25,575 | |
Otis Worldwide Corp. | | | 317 | | | | 30,017 | |
Owens Corning | | | 479 | | | | 80,822 | |
PACCAR, Inc. | | | 1,459 | | | | 140,327 | |
Paychex, Inc. | | | 969 | | | | 127,133 | |
Paycom Software, Inc. | | | 132 | | | | 21,487 | |
Quanta Services, Inc. | | | 125 | | | | 34,391 | |
Robert Half, Inc. | | | 659 | | | | 41,299 | |
Rockwell Automation, Inc. | | | 229 | | | | 62,295 | |
Rollins, Inc. | | | 424 | | | | 21,276 | |
Saia, Inc. * | | | 66 | | | | 24,805 | |
Simpson Manufacturing Co., Inc. | | | 98 | | | | 17,940 | |
Snap-on, Inc. | | | 247 | | | | 70,084 | |
Southwest Airlines Co. | | | 2,318 | | | | 67,036 | |
See Notes to Financial Statements.
36 | DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | | Value $ |
Tetra Tech, Inc. | | | 75 | | | | 17,830 | |
Textron, Inc. | | | 495 | | | | 45,144 | |
Trane Technologies PLC | | | 133 | | | | 48,101 | |
Union Pacific Corp. | | | 362 | | | | 92,705 | |
United Airlines Holdings, Inc. * | | | 812 | | | | 35,760 | |
United Parcel Service, Inc., Class B | | | 2,163 | | | | 278,054 | |
United Rentals, Inc. | | | 194 | | | | 143,804 | |
W.W. Grainger, Inc. | | | 165 | | | | 162,512 | |
Watsco, Inc. | | | 105 | | | | 49,919 | |
| | |
(Cost $4,914,015) | | | | | | | 5,409,098 | |
| | |
Information Technology — 15.9% | | | | | | | | |
Accenture PLC, Class A | | | 2,305 | | | | 788,195 | |
Adobe, Inc. * | | | 1,225 | | | | 703,652 | |
Advanced Micro Devices, Inc. * | | | 366 | | | | 54,373 | |
Amdocs Ltd. | | | 551 | | | | 47,921 | |
Analog Devices, Inc. | | | 281 | | | | 65,990 | |
Apple, Inc. | | | 15,181 | | | | 3,476,449 | |
Applied Materials, Inc. | | | 2,920 | | | | 575,999 | |
Arista Networks, Inc. * | | | 225 | | | | 79,511 | |
Autodesk, Inc. * | | | 146 | | | | 37,726 | |
Cadence Design Systems, Inc. * | | | 48 | | | | 12,909 | |
CDW Corp. | | | 72 | | | | 16,246 | |
Cirrus Logic, Inc. * | | | 175 | | | | 25,496 | |
Cisco Systems, Inc. | | | 24,203 | | | | 1,223,220 | |
Cognizant Technology Solutions Corp., Class A | | | 2,622 | | | | 203,913 | |
Dropbox, Inc., Class A * | | | 1,139 | | | | 28,635 | |
EPAM Systems, Inc. * | | | 124 | | | | 24,894 | |
F5, Inc. * | | | 173 | | | | 35,145 | |
Fair Isaac Corp. * | | | 24 | | | | 41,527 | |
Fortinet, Inc. * | | | 1,575 | | | | 120,818 | |
HP, Inc. | | | 1,562 | | | | 56,513 | |
Intel Corp. | | | 2,336 | | | | 51,485 | |
Jabil, Inc. | | | 329 | | | | 35,953 | |
Juniper Networks, Inc. | | | 646 | | | | 25,117 | |
Keysight Technologies, Inc. * | | | 532 | | | | 81,992 | |
KLA Corp. | | | 187 | | | | 153,233 | |
Lam Research Corp. | | | 423 | | | | 347,287 | |
Microchip Technology, Inc. | | | 391 | | | | 32,125 | |
Micron Technology, Inc. | | | 2,497 | | | | 240,311 | |
Microsoft Corp. | | | 3,417 | | | | 1,425,367 | |
NetApp, Inc. | | | 374 | | | | 45,149 | |
NVIDIA Corp. | | | 860 | | | | 102,658 | |
ON Semiconductor Corp. * | | | 458 | | | | 35,664 | |
Oracle Corp. | | | 180 | | | | 25,432 | |
QUALCOMM, Inc. | | | 1,121 | | | | 196,511 | |
Skyworks Solutions, Inc. | | | 659 | | | | 72,220 | |
Teradyne, Inc. | | | 200 | | | | 27,346 | |
| | | | | | | | |
| | | Number
of Shares | | | Value $ |
Texas Instruments, Inc. | | | 1,286 | | | | 275,641 | |
VeriSign, Inc. * | | | 235 | | | | 43,217 | |
| | |
(Cost $9,802,746) | | | | | | | 10,835,840 | |
| | |
Materials — 1.9% | | | | | | | | |
Albemarle Corp. | | | 159 | | | | 14,350 | |
Amcor PLC | | | 2,354 | | | | 26,930 | |
Celanese Corp. | | | 203 | | | | 26,512 | |
CF Industries Holdings, Inc. | | | 1,053 | | | | 87,494 | |
Cleveland-Cliffs, Inc. * | | | 3,059 | | | | 39,951 | |
Corteva, Inc. | | | 288 | | | | 16,502 | |
CRH PLC | | | 1,717 | | | | 155,852 | |
Dow, Inc. | | | 1,051 | | | | 56,313 | |
DuPont de Nemours, Inc. | | | 203 | | | | 17,103 | |
Eagle Materials, Inc. | | | 133 | | | | 34,281 | |
Freeport-McMoRan, Inc. | | | 611 | | | | 27,055 | |
International Paper Co. | | | 560 | | | | 27,115 | |
Louisiana-Pacific Corp. | | | 245 | | | | 23,777 | |
LyondellBasell Industries NV, Class A | | | 762 | | | | 75,209 | |
Mosaic Co. | | | 1,177 | | | | 33,627 | |
NewMarket Corp. | | | 27 | | | | 15,492 | |
Nucor Corp. | | | 1,785 | | | | 271,159 | |
Olin Corp. | | | 435 | | | | 18,996 | |
Packaging Corp. of America | | | 154 | | | | 32,269 | |
Reliance, Inc. | | | 379 | | | | 108,640 | |
Steel Dynamics, Inc. | | | 1,202 | | | | 143,651 | |
United States Steel Corp. | | | 668 | | | | 25,324 | |
| | |
(Cost $1,208,572) | | | | | | | 1,277,602 | |
| | |
Real Estate — 0.9% | | | | | | | | |
CBRE Group, Inc., Class A * | | | 509 | | | | 58,606 | |
Gaming and Leisure Properties, Inc. REIT | | | 404 | | | | 21,016 | |
Host Hotels & Resorts, Inc. REIT | | | 1,284 | | | | 22,727 | |
Lamar Advertising Co., Class A REIT | | | 175 | | | | 22,011 | |
Public Storage REIT | | | 652 | | | | 224,105 | |
Simon Property Group, Inc. REIT | | | 799 | | | | 133,713 | |
VICI Properties, Inc. REIT | | | 1,654 | | | | 55,376 | |
Weyerhaeuser Co. REIT | | | 1,808 | | | | 55,126 | |
| | |
(Cost $493,258) | | | | | | | 592,680 | |
| | |
Utilities — 0.2% | | | | | | | | |
Atmos Energy Corp. | | | 361 | | | | 47,197 | |
CenterPoint Energy, Inc. | | | 903 | | | | 24,652 | |
Vistra Corp. | | | 1,044 | | | | 89,189 | |
| | |
(Cost $160,578) | | | | | | | 161,038 | |
| | |
TOTAL COMMON STOCKS | | | | | | | | |
| | |
(Cost $61,145,696) | | | | | | | 68,000,053 | |
See Notes to Financial Statements.
DBX ETF Trust | 37
Schedule of Investments
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | | Value $ |
| | |
EXCHANGE-TRADED FUNDS — 0.0% | | | | | | | | |
iShares Russell 1000 ETF | | | | | | | | |
| | |
(Cost $1,055) | | | 5 | | | | 1,545 | |
| | |
| SECURITIES LENDING COLLATERAL — 0.0% | | | | | | | | |
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (b)(c) | | | | | | | | |
| | |
(Cost $34,277) | | | 34,277 | | | | 34,277 | |
| | | | | | | | |
| | | Number
of Shares | | | Value $ |
| | |
CASH EQUIVALENTS — 0.3% | | | | | | | | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (b) | | | | | | | | |
| | |
(Cost $177,441) | | | 177,441 | | | | 177,441 | |
| | |
TOTAL INVESTMENTS — 99.9% | | | | | | | | |
| | |
(Cost $61,358,469) | | | | | | | 68,213,316 | |
Other assets and liabilities, net — 0.1% | | | | | | | 73,019 | |
| | |
NET ASSETS — 100.0% | | | | | | | 68,286,335 | |
A summary of the Fund’s transactions with affiliated investments during the year ended August 31, 2024 is as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Value ($) at 8/31/2023 | | Purchases Cost
($) | | | Sales
Proceeds ($) | | | Net Realized
Gain/(Loss)
($) | | | Net Change in Unrealized Appreciation (Depreciation)
($) | | | Income ($) | | | Capital Gain Distributions ($) | | | Number of Shares at 8/31/2024 | | | Value ($) at
8/31/2024 | |
SECURITIES LENDING COLLATERAL — 0.0% | | | | | | | | | | | | | | | | | | | | | | | | | |
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (b)(c) | | | | | | | | | | | | | |
— | | | 34,277 | (d) | | | — | | | | — | | | | — | | | | 32 | | | | — | | | | 34,277 | | | | 34,277 | |
| | | |
CASH EQUIVALENTS — 0.3% | | | | | | | | | | | | | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (b) | | | | | | | | | | | | | |
14,718 | | | 1,382,582 | | | | (1,219,859 | ) | | | — | | | | — | | | | 3,907 | | | | — | | | | 177,441 | | | | 177,441 | |
| | | | | | | | | |
14,718 | | | 1,416,859 | | | | (1,219,859 | ) | | | — | | | | — | | | | 3,939 | | | | — | | | | 211,718 | | | | 211,718 | |
| * | Non-income producing security. |
| (a) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at August 31, 2024 amounted to $33,591, which is 0.0% of net assets. |
| (b) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
| (c) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. |
| (d) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the year ended August 31, 2024. |
REIT: Real Estate Investment Trust
At August 31, 2024, open futures contracts purchased were as follows:
| | | | | | | | | | | | | | | | | | |
| Contract Description | | Currency | | Number of
Contracts | | Notional
Amount ($) | | | Contract Value
($) | | | Expiration
Date | | Unrealized
Appreciation ($) | |
Micro E-Mini S&P 500 Futures | | USD | | 9 | | | 251,500 | | | | 254,745 | | | 9/20/2024 | | | 3,245 | |
For information on the Fund’s policy and additional disclosures regarding futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
| | |
| Currency Abbreviations |
| |
USD | | U.S. Dollar |
See Notes to Financial Statements.
38 | DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (Continued)
August 31, 2024
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of August 31, 2024 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
| | | | | | | | | | | | | | | | |
| Assets | | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
Common Stocks (a) | | $ | 68,000,053 | | | $ | — | | | $ | — | | | $ | 68,000,053 | |
Exchange-Traded Funds | | | 1,545 | | | | — | | | | — | | | | 1,545 | |
Short-Term Investments (a) | | | 211,718 | | | | — | | | | — | | | | 211,718 | |
Derivatives (b) | | | | | | | | | | | | | | | | |
Futures Contracts | | | 3,245 | | | | — | | | | — | | | | 3,245 | |
| | | | | |
TOTAL | | $ | 68,216,561 | | | $ | — | | | $ | — | | | $ | 68,216,561 | |
| (a) | See Schedule of Investments for additional detailed categorizations. |
| (b) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
See Notes to Financial Statements.
DBX ETF Trust | 39
Schedule of Investments
Xtrackers Russell US Multifactor ETF
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
| | |
COMMON STOCKS — 99.1% | | | | | | | | |
Communication Services — 3.0% | | | | | | | | |
Alphabet, Inc., Class A | | | 974 | | | | 159,132 | |
Alphabet, Inc., Class C | | | 926 | | | | 152,892 | |
AT&T, Inc. | | | 20,648 | | | | 410,895 | |
Charter Communications, Inc., Class A * | | | 956 | | | | 332,248 | |
Comcast Corp., Class A | | | 6,000 | | | | 237,420 | |
Electronic Arts, Inc. | | | 2,129 | | | | 323,225 | |
Fox Corp., Class A | | | 4,808 | | | | 198,907 | |
Fox Corp., Class B | | | 2,687 | | | | 103,261 | |
Frontier Communications Parent, Inc. * | | | 8,512 | | | | 245,146 | |
IAC, Inc. * | | | 337 | | | | 17,787 | |
Interpublic Group of Cos., Inc. | | | 4,125 | | | | 134,516 | |
Liberty Broadband Corp., Class C * | | | 411 | | | | 25,638 | |
Liberty Global Ltd., Class A * | | | 2,907 | | | | 56,250 | |
Liberty Global Ltd., Class C * | | | 5,359 | | | | 105,412 | |
Liberty Media Corp.-Liberty Formula One, Class C * | | | 293 | | | | 22,869 | |
Liberty Media Corp.-Liberty SiriusXM * | | | 3,546 | | | | 84,501 | |
Liberty Media Corp.-Liberty SiriusXM, Class A * | | | 1,316 | | | | 31,334 | |
Live Nation Entertainment, Inc. * | | | 853 | | | | 83,313 | |
Madison Square Garden Sports Corp.* | | | 239 | | | | 49,963 | |
Match Group, Inc. * | | | 1,334 | | | | 49,638 | |
Meta Platforms, Inc., Class A | | | 255 | | | | 132,934 | |
Netflix, Inc. * | | | 69 | | | | 48,393 | |
New York Times Co., Class A | | | 5,146 | | | | 282,670 | |
News Corp., Class A | | | 7,474 | | | | 211,738 | |
News Corp., Class B | | | 2,491 | | | | 73,310 | |
Nexstar Media Group, Inc. | | | 1,034 | | | | 176,690 | |
Omnicom Group, Inc. | | | 4,253 | | | | 427,129 | |
Pinterest, Inc., Class A * | | | 750 | | | | 24,030 | |
Spotify Technology SA * | | | 227 | | | | 77,834 | |
Take-Two Interactive Software, Inc.* | | | 99 | | | | 16,009 | |
T-Mobile US, Inc. | | | 575 | | | | 114,264 | |
Trade Desk, Inc., Class A * | | | 67 | | | | 7,004 | |
TripAdvisor, Inc. * | | | 827 | | | | 12,000 | |
Verizon Communications, Inc. | | | 9,498 | | | | 396,826 | |
Walt Disney Co. | | | 500 | | | | 45,190 | |
Warner Bros Discovery, Inc. * | | | 8,522 | | | | 66,812 | |
ZoomInfo Technologies, Inc. * | | | 1,231 | | | | 12,175 | |
| | |
(Cost $4,279,035) | | | | | | | 4,949,355 | |
| | |
Consumer Discretionary — 12.3% | | | | | | | | |
Advance Auto Parts, Inc. | | | 2,223 | | | | 100,724 | |
Airbnb, Inc., Class A * | | | 691 | | | | 81,061 | |
Amazon.com, Inc. * | | | 494 | | | | 88,179 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
| | |
Amer Sports, Inc. * | | | 1,097 | | | | 14,974 | |
Aptiv PLC * | | | 380 | | | | 27,181 | |
Aramark | | | 4,345 | | | | 159,157 | |
AutoNation, Inc. * | | | 206 | | | | 36,664 | |
AutoZone, Inc. * | | | 179 | | | | 569,485 | |
Bath & Body Works, Inc. | | | 416 | | | | 12,796 | |
Best Buy Co., Inc. | | | 4,418 | | | | 443,567 | |
Booking Holdings, Inc. | | | 106 | | | | 414,378 | |
BorgWarner, Inc. | | | 6,350 | | | | 216,344 | |
Bright Horizons Family Solutions, Inc. * | | | 419 | | | | 58,962 | |
Brunswick Corp. | | | 667 | | | | 52,726 | |
Burlington Stores, Inc. * | | | 441 | | | | 118,294 | |
CarMax, Inc. * | | | 532 | | | | 44,981 | |
Carter’s, Inc. | | | 1,792 | | | | 118,093 | |
Cava Group, Inc. * | | | 332 | | | | 37,861 | |
Chipotle Mexican Grill, Inc. * | | | 4,360 | | | | 244,509 | |
Choice Hotels International, Inc. (a) | | | 417 | | | | 53,205 | |
Churchill Downs, Inc. | | | 223 | | | | 30,990 | |
Columbia Sportswear Co. | | | 2,093 | | | | 168,968 | |
Coupang, Inc. * | | | 5,210 | | | | 115,401 | |
Crocs, Inc. * | | | 104 | | | | 15,202 | |
D.R. Horton, Inc. | | | 5,402 | | | | 1,019,682 | |
Darden Restaurants, Inc. | | | 467 | | | | 73,856 | |
Deckers Outdoor Corp. * | | | 202 | | | | 193,777 | |
Dick’s Sporting Goods, Inc. | | | 1,298 | | | | 307,574 | |
Dillard’s, Inc., Class A | | | 36 | | | | 12,203 | |
Domino’s Pizza, Inc. | | | 668 | | | | 276,692 | |
DoorDash, Inc., Class A * | | | 518 | | | | 66,672 | |
eBay, Inc. | | | 10,699 | | | | 632,311 | |
Expedia Group, Inc. * | | | 2,657 | | | | 369,562 | |
Five Below, Inc. * | | | 253 | | | | 19,084 | |
Floor & Decor Holdings, Inc., Class A * | | | 1,404 | | | | 157,866 | |
Ford Motor Co. | | | 11,502 | | | | 128,707 | |
Gap, Inc. | | | 2,150 | | | | 48,224 | |
Garmin Ltd. | | | 3,588 | | | | 657,645 | |
General Motors Co. | | | 8,286 | | | | 412,477 | |
Gentex Corp. | | | 14,441 | | | | 452,437 | |
Genuine Parts Co. | | | 2,542 | | | | 364,167 | |
Grand Canyon Education, Inc. * | | | 1,860 | | | | 269,719 | |
H&R Block, Inc. | | | 8,696 | | | | 550,544 | |
Harley-Davidson, Inc. | | | 3,151 | | | | 117,973 | |
Hasbro, Inc. | | | 228 | | | | 15,540 | |
Hilton Worldwide Holdings, Inc. | | | 1,467 | | | | 322,212 | |
Home Depot, Inc. | | | 404 | | | | 148,874 | |
Hyatt Hotels Corp., Class A | | | 366 | | | | 55,603 | |
Las Vegas Sands Corp. | | | 643 | | | | 25,071 | |
Lear Corp. | | | 1,026 | | | | 119,683 | |
Lennar Corp., Class A | | | 4,966 | | | | 904,110 | |
Lennar Corp., Class B | | | 277 | | | | 46,766 | |
See Notes to Financial Statements.
40 | DBX ETF Trust
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
LKQ Corp. | | | 2,259 | | | | 93,952 | |
Lowe’s Cos., Inc. | | | 851 | | | | 211,474 | |
Lululemon Athletica, Inc. * | | | 327 | | | | 84,847 | |
Macy’s, Inc. | | | 812 | | | | 12,643 | |
Marriott International, Inc., Class A | | | 903 | | | | 211,925 | |
Mattel, Inc. * | | | 8,270 | | | | 156,965 | |
McDonald’s Corp. | | | 255 | | | | 73,608 | |
MGM Resorts International * | | | 214 | | | | 8,044 | |
Mohawk Industries, Inc. * | | | 527 | | | | 81,759 | |
Murphy USA, Inc. | | | 915 | | | | 475,461 | |
Newell Brands, Inc. | | | 7,827 | | | | 55,493 | |
NIKE, Inc., Class B | | | 1,026 | | | | 85,486 | |
NVR, Inc. * | | | 87 | | | | 798,004 | |
Ollie’s Bargain Outlet Holdings, Inc.* | | | 1,358 | | | | 121,622 | |
O’Reilly Automotive, Inc. * | | | 411 | | | | 464,418 | |
Penske Automotive Group, Inc. | | | 152 | | | | 25,855 | |
Polaris, Inc. | | | 153 | | | | 12,951 | |
Pool Corp. | | | 634 | | | | 222,927 | |
PulteGroup, Inc. | | | 8,278 | | | | 1,089,799 | |
PVH Corp. | | | 1,259 | | | | 124,251 | |
Ralph Lauren Corp. | | | 2,339 | | | | 400,577 | |
RH * | | | 23 | | | | 5,835 | |
Ross Stores, Inc. | | | 2,737 | | | | 412,220 | |
Service Corp. International | | | 1,917 | | | | 150,044 | |
SharkNinja, Inc. | | | 954 | | | | 91,412 | |
Skechers U.S.A., Inc., Class A * | | | 6,871 | | | | 470,526 | |
Starbucks Corp. | | | 1,475 | | | | 139,491 | |
Tapestry, Inc. | | | 4,188 | | | | 171,582 | |
Tempur Sealy International, Inc. | | | 262 | | | | 13,737 | |
Texas Roadhouse, Inc. | | | 1,987 | | | | 335,306 | |
Thor Industries, Inc. | | | 763 | | | | 81,839 | |
TJX Cos., Inc. | | | 4,297 | | | | 503,909 | |
Toll Brothers, Inc. | | | 2,730 | | | | 393,311 | |
TopBuild Corp. * | | | 438 | | | | 172,143 | |
Tractor Supply Co. | | | 2,452 | | | | 656,033 | |
Travel + Leisure Co. | | | 943 | | | | 41,737 | |
Ulta Beauty, Inc. * | | | 469 | | | | 165,482 | |
Under Armour, Inc., Class A * | | | 2,200 | | | | 16,918 | |
Under Armour, Inc., Class C * | | | 2,846 | | | | 21,231 | |
Vail Resorts, Inc. | | | 291 | | | | 52,875 | |
Valvoline, Inc. * | | | 5,768 | | | | 243,410 | |
VF Corp. | | | 1,235 | | | | 22,489 | |
Whirlpool Corp. | | | 283 | | | | 28,382 | |
Williams-Sonoma, Inc. | | | 2,730 | | | | 366,721 | |
Wingstop, Inc. | | | 191 | | | | 73,747 | |
Wyndham Hotels & Resorts, Inc. | | | 444 | | | | 34,943 | |
Wynn Resorts Ltd. | | | 176 | | | | 13,531 | |
YETI Holdings, Inc. * | | | 941 | | | | 37,941 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Yum! Brands, Inc. | | | 1,262 | | | | 170,269 | |
| | |
(Cost $16,463,269) | | | | | | | 20,691,858 | |
| | |
Consumer Staples — 7.5% | | | | | | | | |
Albertsons Cos., Inc., Class A | | | 9,143 | | | | 179,386 | |
Altria Group, Inc. | | | 16,846 | | | | 905,809 | |
Archer-Daniels-Midland Co. | | | 15,014 | | | | 915,704 | |
BellRing Brands, Inc. * | | | 5,087 | | | | 284,516 | |
BJ’s Wholesale Club Holdings, Inc.* | | | 8,257 | | | | 660,230 | |
Boston Beer Co., Inc., Class A * | | | 121 | | | | 32,878 | |
Brown-Forman Corp., Class B | | | 297 | | | | 13,540 | |
Bunge Global SA | | | 3,468 | | | | 351,586 | |
Campbell Soup Co. | | | 3,635 | | | | 180,732 | |
Casey’s General Stores, Inc. | | | 2,318 | | | | 839,835 | |
Church & Dwight Co., Inc. | | | 3,159 | | | | 321,839 | |
Clorox Co. | | | 619 | | | | 97,994 | |
Coca-Cola Co. | | | 916 | | | | 66,383 | |
Coca-Cola Consolidated, Inc. | | | 323 | | | | 433,595 | |
Colgate-Palmolive Co. | | | 5,233 | | | | 557,314 | |
Conagra Brands, Inc. | | | 2,925 | | | | 91,260 | |
Constellation Brands, Inc., Class A | | | 492 | | | | 118,429 | |
Costco Wholesale Corp. | | | 275 | | | | 245,404 | |
Dollar General Corp. | | | 1,658 | | | | 137,564 | |
Dollar Tree, Inc. * | | | 3,528 | | | | 298,081 | |
elf Beauty, Inc. * | | | 75 | | | | 11,234 | |
Estee Lauder Cos., Inc., Class A | | | 214 | | | | 19,615 | |
Flowers Foods, Inc. | | | 6,712 | | | | 155,987 | |
Freshpet, Inc. * | | | 150 | | | | 20,400 | |
General Mills, Inc. | | | 2,782 | | | | 201,111 | |
Grocery Outlet Holding Corp. * | | | 5,722 | | | | 108,375 | |
Hershey Co. | | | 352 | | | | 67,957 | |
Hormel Foods Corp. | | | 1,638 | | | | 53,317 | |
Ingredion, Inc. | | | 4,108 | | | | 551,745 | |
J M Smucker Co. | | | 425 | | | | 48,739 | |
Kellanova | | | 3,784 | | | | 305,028 | |
Kenvue, Inc. | | | 4,667 | | | | 102,441 | |
Keurig Dr Pepper, Inc. | | | 3,190 | | | | 116,786 | |
Kimberly-Clark Corp. | | | 2,544 | | | | 368,015 | |
Kraft Heinz Co. | | | 5,596 | | | | 198,266 | |
Kroger Co. | | | 16,393 | | | | 872,272 | |
Lamb Weston Holdings, Inc. | | | 324 | | | | 20,062 | |
McCormick & Co., Inc. | | | 488 | | | | 39,055 | |
Molson Coors Beverage Co., Class B | | | 2,875 | | | | 155,164 | |
Mondelez International, Inc., Class A | | | 2,529 | | | | 181,607 | |
Monster Beverage Corp. * | | | 1,361 | | | | 64,144 | |
PepsiCo, Inc. | | | 499 | | | | 86,267 | |
Philip Morris International, Inc. | | | 1,966 | | | | 242,388 | |
Pilgrim’s Pride Corp. * | | | 1,812 | | | | 84,403 | |
Post Holdings, Inc. * | | | 1,903 | | | | 220,310 | |
See Notes to Financial Statements.
DBX ETF Trust | 41
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Procter & Gamble Co. | | | 398 | | | | 68,273 | |
Reynolds Consumer Products, Inc. | | | 1,971 | | | | 62,086 | |
Seaboard Corp. | | | 4 | | | | 12,441 | |
Spectrum Brands Holdings, Inc. | | | 522 | | | | 49,235 | |
Sysco Corp. | | | 4,881 | | | | 380,572 | |
Target Corp. | | | 1,856 | | | | 285,119 | |
Tyson Foods, Inc., Class A | | | 8,076 | | | | 519,368 | |
US Foods Holding Corp. * | | | 1,865 | | | | 110,427 | |
Walmart, Inc. | | | 1,162 | | | | 89,741 | |
| | |
(Cost $11,346,902) | | | | | | | 12,604,029 | |
| | |
Energy — 2.5% | | | | | | | | |
Antero Midstream Corp. | | | 2,365 | | | | 35,168 | |
Baker Hughes Co. | | | 6,944 | | | | 244,220 | |
Cheniere Energy, Inc. | | | 475 | | | | 87,998 | |
Chesapeake Energy Corp. (a) | | | 3,490 | | | | 259,970 | |
Chevron Corp. | | | 584 | | | | 86,403 | |
Civitas Resources, Inc. | | | 247 | | | | 15,149 | |
ConocoPhillips | | | 1,597 | | | | 181,723 | |
Coterra Energy, Inc. | | | 13,334 | | | | 324,416 | |
Devon Energy Corp. | | | 1,425 | | | | 63,811 | |
Diamondback Energy, Inc. | | | 426 | | | | 83,117 | |
DT Midstream, Inc. | | | 3,312 | | | | 260,290 | |
EOG Resources, Inc. | | | 2,396 | | | | 308,653 | |
Exxon Mobil Corp. | | | 590 | | | | 69,585 | |
Halliburton Co. | | | 942 | | | | 29,287 | |
Hess Corp. | | | 350 | | | | 48,321 | |
HF Sinclair Corp. | | | 3,750 | | | | 184,275 | |
Kinder Morgan, Inc. | | | 8,306 | | | | 179,160 | |
Marathon Oil Corp. | | | 4,479 | | | | 128,323 | |
Marathon Petroleum Corp. | | | 1,822 | | | | 322,713 | |
NOV, Inc. | | | 1,584 | | | | 28,148 | |
Occidental Petroleum Corp. | | | 443 | | | | 25,242 | |
Phillips 66 | | | 1,597 | | | | 224,075 | |
Schlumberger NV | | | 1,706 | | | | 75,047 | |
TechnipFMC PLC | | | 1,994 | | | | 53,519 | |
Texas Pacific Land Corp. | | | 133 | | | | 115,562 | |
Valero Energy Corp. | | | 2,231 | | | | 327,355 | |
Viper Energy, Inc., Class A | | | 739 | | | | 35,176 | |
Weatherford International PLC | | | 806 | | | | 84,582 | |
Williams Cos., Inc. | | | 7,439 | | | | 340,483 | |
| | |
(Cost $3,812,680) | | | | | | | 4,221,771 | |
| | |
Financials — 15.9% | | | | | | | | |
Affiliated Managers Group, Inc. | | | 1,987 | | | | 345,400 | |
Aflac, Inc. | | | 4,080 | | | | 450,269 | |
Allstate Corp. | | | 594 | | | | 112,230 | |
Ally Financial, Inc. | | | 1,167 | | | | 50,403 | |
American Express Co. | | | 553 | | | | 143,033 | |
American Financial Group, Inc. | | | 1,237 | | | | 165,288 | |
American International Group, Inc. | | | 1,334 | | | | 102,785 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Ameriprise Financial, Inc. | | | 391 | | | | 175,731 | |
Aon PLC, Class A | | | 507 | | | | 174,266 | |
Apollo Global Management, Inc. | | | 1,437 | | | | 166,304 | |
Arch Capital Group Ltd. * | | | 16,009 | | | | 1,810,458 | |
Ares Management Corp., Class A | | | 480 | | | | 70,272 | |
Arthur J Gallagher & Co. | | | 329 | | | | 96,255 | |
Assurant, Inc. | | | 1,101 | | | | 216,181 | |
Assured Guaranty Ltd. | | | 2,665 | | | | 213,413 | |
Axis Capital Holdings Ltd. | | | 1,780 | | | | 142,186 | |
Bank of America Corp. | | | 919 | | | | 37,449 | |
Bank of New York Mellon Corp. | | | 3,255 | | | | 222,056 | |
Bank OZK | | | 2,444 | | | | 105,947 | |
Berkshire Hathaway, Inc., Class B * | | | 423 | | | | 201,314 | |
BlackRock, Inc. | | | 190 | | | | 171,344 | |
Blackstone, Inc. | | | 900 | | | | 128,124 | |
Blue Owl Capital, Inc. | | | 1,462 | | | | 25,790 | |
BOK Financial Corp. | | | 124 | | | | 13,014 | |
Brown & Brown, Inc. | | | 4,024 | | | | 423,043 | |
Capital One Financial Corp. | | | 1,694 | | | | 248,899 | |
Cboe Global Markets, Inc. | | | 4,461 | | | | 916,289 | |
Charles Schwab Corp. | | | 820 | | | | 53,382 | |
Chubb Ltd. | | | 1,859 | | | | 528,291 | |
Cincinnati Financial Corp. | | | 5,950 | | | | 815,328 | |
Citigroup, Inc. | | | 421 | | | | 26,371 | |
Citizens Financial Group, Inc. | | | 2,742 | | | | 118,043 | |
CME Group, Inc. | | | 436 | | | | 94,063 | |
CNA Financial Corp. | | | 300 | | | | 15,576 | |
Columbia Banking System, Inc. | | | 1,748 | | | | 44,015 | |
Comerica, Inc. | | | 1,017 | | | | 58,081 | |
Commerce Bancshares, Inc. | | | 1,115 | | | | 71,315 | |
Corebridge Financial, Inc. | | | 2,628 | | | | 77,684 | |
Corpay, Inc. * | | | 1,041 | | | | 328,488 | |
Credit Acceptance Corp. * | | | 66 | | | | 30,791 | |
Cullen/Frost Bankers, Inc. | | | 232 | | | | 26,037 | |
Discover Financial Services | | | 850 | | | | 117,903 | |
East West Bancorp, Inc. | | | 1,886 | | | | 158,556 | |
Equitable Holdings, Inc. | | | 1,732 | | | | 73,645 | |
Euronet Worldwide, Inc. * | | | 869 | | | | 93,774 | |
Evercore, Inc., Class A | | | 1,474 | | | | 362,221 | |
Everest Group Ltd. | | | 2,186 | | | | 857,437 | |
FactSet Research Systems, Inc. | | | 808 | | | | 341,655 | |
Fidelity National Financial, Inc. | | | 3,227 | | | | 190,264 | |
Fidelity National Information Services, Inc. | | | 556 | | | | 45,842 | |
Fifth Third Bancorp | | | 3,686 | | | | 157,355 | |
First American Financial Corp. | | | 461 | | | | 29,412 | |
First Citizens BancShares, Inc., Class A | | | 221 | | | | 448,785 | |
First Hawaiian, Inc. | | | 1,362 | | | | 33,137 | |
First Horizon Corp. | | | 4,137 | | | | 68,633 | |
See Notes to Financial Statements.
42 | DBX ETF Trust
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Fiserv, Inc. * | | | 1,196 | | | | 208,822 | |
FNB Corp. | | | 3,605 | | | | 54,003 | |
Franklin Resources, Inc. | | | 1,454 | | | | 29,429 | |
Global Payments, Inc. | | | 823 | | | | 91,361 | |
Globe Life, Inc. | | | 3,506 | | | | 368,305 | |
Goldman Sachs Group, Inc. | | | 56 | | | | 28,574 | |
Hanover Insurance Group, Inc. | | | 225 | | | | 33,073 | |
Hartford Financial Services Group, Inc. | | | 5,436 | | | | 631,120 | |
Houlihan Lokey, Inc. | | | 2,830 | | | | 443,235 | |
Huntington Bancshares, Inc. | | | 10,042 | | | | 150,329 | |
Interactive Brokers Group, Inc., Class A | | | 1,357 | | | | 174,904 | |
Intercontinental Exchange, Inc. | | | 517 | | | | 83,521 | |
Invesco Ltd. | | | 530 | | | | 9,058 | |
Jack Henry & Associates, Inc. | | | 779 | | | | 134,790 | |
Janus Henderson Group PLC | | | 6,603 | | | | 248,339 | |
Jefferies Financial Group, Inc. | | | 241 | | | | 14,448 | |
JPMorgan Chase & Co. | | | 106 | | | | 23,829 | |
KeyCorp | | | 5,659 | | | | 96,542 | |
Kinsale Capital Group, Inc. | | | 1,103 | | | | 541,672 | |
KKR & Co., Inc. | | | 358 | | | | 44,310 | |
Loews Corp. | | | 3,737 | | | | 306,210 | |
LPL Financial Holdings, Inc. | | | 1,539 | | | | 345,259 | |
M&T Bank Corp. | | | 1,213 | | | | 208,769 | |
Markel Group, Inc. * | | | 438 | | | | 701,098 | |
MarketAxess Holdings, Inc. | | | 205 | | | | 49,690 | |
Marsh & McLennan Cos., Inc. | | | 1,768 | | | | 402,238 | |
Mastercard, Inc., Class A | | | 82 | | | | 39,634 | |
MetLife, Inc. | | | 1,845 | | | | 142,951 | |
MGIC Investment Corp. | | | 16,805 | | | | 427,351 | |
Moody’s Corp. | | | 678 | | | | 330,688 | |
Morningstar, Inc. | | | 224 | | | | 70,284 | |
MSCI, Inc. | | | 401 | | | | 232,817 | |
Nasdaq, Inc. | | | 2,368 | | | | 170,685 | |
Northern Trust Corp. | | | 1,088 | | | | 99,236 | |
Nu Holdings Ltd./Cayman Islands, Class A * | | | 1,221 | | | | 18,278 | |
Old Republic International Corp. | | | 7,758 | | | | 278,279 | |
OneMain Holdings, Inc. | | | 651 | | | | 32,166 | |
PayPal Holdings, Inc. * | | | 2,936 | | | | 212,654 | |
Pinnacle Financial Partners, Inc. | | | 852 | | | | 84,834 | |
PNC Financial Services Group, Inc. | | | 1,019 | | | | 188,607 | |
Popular, Inc. | | | 698 | | | | 71,545 | |
Primerica, Inc. | | | 1,017 | | | | 267,705 | |
Principal Financial Group, Inc. | | | 764 | | | | 62,205 | |
Progressive Corp. | | | 2,319 | | | | 584,852 | |
Prosperity Bancshares, Inc. | | | 521 | | | | 38,335 | |
Prudential Financial, Inc. | | | 1,221 | | | | 147,936 | |
Raymond James Financial, Inc. | | | 346 | | | | 41,371 | |
Regions Financial Corp. | | | 5,895 | | | | 138,061 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Reinsurance Group of America, Inc. | | | 928 | | | | 204,865 | |
RenaissanceRe Holdings Ltd. | | | 3,248 | | | | 827,558 | |
Rithm Capital Corp. REIT | | | 8,091 | | | | 96,607 | |
RLI Corp. | | | 1,365 | | | | 210,346 | |
Ryan Specialty Holdings, Inc. | | | 447 | | | | 28,890 | |
S&P Global, Inc. | | | 179 | | | | 91,870 | |
SEI Investments Co. | | | 4,113 | | | | 278,162 | |
SLM Corp. | | | 2,245 | | | | 49,525 | |
Starwood Property Trust, Inc. REIT | | | 1,339 | | | | 27,905 | |
State Street Corp. | | | 826 | | | | 71,945 | |
Stifel Financial Corp. | | | 1,011 | | | | 89,110 | |
Synchrony Financial | | | 8,117 | | | | 407,960 | |
Synovus Financial Corp. | | | 1,147 | | | | 52,900 | |
T. Rowe Price Group, Inc. | | | 2,589 | | | | 274,538 | |
Toast, Inc., Class A * | | | 602 | | | | 14,966 | |
TPG, Inc. | | | 948 | | | | 47,827 | |
Tradeweb Markets, Inc., Class A | | | 2,279 | | | | 269,469 | |
Travelers Cos., Inc. | | | 1,783 | | | | 406,649 | |
Truist Financial Corp. | | | 1,189 | | | | 52,863 | |
Unum Group | | | 2,777 | | | | 154,096 | |
US Bancorp | | | 3,135 | | | | 148,066 | |
Virtu Financial, Inc., Class A | | | 2,043 | | | | 62,740 | |
Visa, Inc., Class A | | | 190 | | | | 52,510 | |
Voya Financial, Inc. | | | 607 | | | | 42,994 | |
W.R. Berkley Corp. | | | 8,990 | | | | 536,703 | |
Webster Financial Corp. | | | 1,316 | | | | 62,418 | |
Wells Fargo & Co. | | | 1,425 | | | | 83,320 | |
Western Alliance Bancorp | | | 118 | | | | 9,638 | |
Western Union Co. | | | 21,148 | | | | 258,006 | |
WEX, Inc. * | | | 374 | | | | 71,441 | |
White Mountains Insurance Group Ltd. | | | 13 | | | | 23,975 | |
Willis Towers Watson PLC | | | 510 | | | | 148,976 | |
Wintrust Financial Corp. | | | 544 | | | | 59,187 | |
Zions Bancorp NA | | | 1,489 | | | | 73,795 | |
| | |
(Cost $21,099,863) | | | | | | | 26,589,049 | |
| | |
Health Care — 11.4% | | | | | | | | |
Abbott Laboratories | | | 632 | | | | 71,587 | |
AbbVie, Inc. | | | 824 | | | | 161,759 | |
Acadia Healthcare Co., Inc. * | | | 296 | | | | 24,251 | |
Agilent Technologies, Inc. | | | 3,317 | | | | 474,066 | |
Align Technology, Inc. * | | | 198 | | | | 46,970 | |
Amedisys, Inc. * | | | 447 | | | | 43,810 | |
Amgen, Inc. | | | 498 | | | | 166,247 | |
Avantor, Inc. * | | | 4,601 | | | | 118,890 | |
Azenta, Inc. * | | | 138 | | | | 6,834 | |
Baxter International, Inc. | | | 1,800 | | | | 68,292 | |
Becton Dickinson and Co. | | | 287 | | | | 69,572 | |
BioMarin Pharmaceutical, Inc. * | | | 163 | | | | 14,867 | |
Bio-Techne Corp. | | | 728 | | | | 53,865 | |
See Notes to Financial Statements.
DBX ETF Trust | 43
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Boston Scientific Corp. * | | | 1,606 | | | | 131,355 | |
Bristol-Myers Squibb Co. | | | 1,708 | | | | 85,315 | |
Bruker Corp. | | | 1,010 | | | | 67,862 | |
Cardinal Health, Inc. | | | 13,570 | | | | 1,529,610 | |
Catalent, Inc. * | | | 149 | | | | 9,083 | |
Cencora, Inc. | | | 4,634 | | | | 1,110,167 | |
Centene Corp. * | | | 14,821 | | | | 1,168,339 | |
Charles River Laboratories International, Inc. * | | | 293 | | | | 57,941 | |
Chemed Corp. | | | 280 | | | | 164,128 | |
Cigna Group | | | 1,815 | | | | 656,685 | |
Cooper Cos., Inc. * | | | 638 | | | | 67,456 | |
CVS Health Corp. | | | 7,690 | | | | 440,176 | |
Danaher Corp. | | | 230 | | | | 61,941 | |
DaVita, Inc. * | | | 2,940 | | | | 443,705 | |
DENTSPLY SIRONA, Inc. (a) | | | 584 | | | | 14,769 | |
Dexcom, Inc. * | | | 310 | | | | 21,495 | |
Edwards Lifesciences Corp. * | | | 1,019 | | | | 71,289 | |
Elevance Health, Inc. | | | 1,012 | | | | 563,573 | |
Eli Lilly & Co. | | | 21 | | | | 20,160 | |
Encompass Health Corp. | | | 3,420 | | | | 318,231 | |
Exelixis, Inc. * | | | 9,568 | | | | 249,055 | |
Fortrea Holdings, Inc. * | | | 3,083 | | | | 71,094 | |
GE HealthCare Technologies, Inc. | | | 5,195 | | | | 440,640 | |
Gilead Sciences, Inc. | | | 3,156 | | | | 249,324 | |
HCA Healthcare, Inc. | | | 464 | | | | 183,554 | |
Henry Schein, Inc. * | | | 297 | | | | 20,953 | |
Hologic, Inc. * | | | 727 | | | | 59,061 | |
Humana, Inc. | | | 2,626 | | | | 930,838 | |
IDEXX Laboratories, Inc. * | | | 262 | | | | 126,108 | |
Incyte Corp. * | | | 799 | | | | 52,462 | |
Intuitive Surgical, Inc. * | | | 222 | | | | 109,364 | |
IQVIA Holdings, Inc. * | | | 433 | | | | 108,921 | |
Jazz Pharmaceuticals PLC * | | | 997 | | | | 115,632 | |
Johnson & Johnson | | | 560 | | | | 92,882 | |
Labcorp Holdings, Inc. | | | 1,503 | | | | 345,525 | |
Masimo Corp. * | | | 232 | | | | 27,265 | |
McKesson Corp. | | | 3,351 | | | | 1,880,179 | |
Medpace Holdings, Inc. * | | | 464 | | | | 164,845 | |
Medtronic PLC | | | 1,244 | | | | 110,194 | |
Merck & Co., Inc. | | | 473 | | | | 56,027 | |
Mettler-Toledo International, Inc.* | | | 83 | | | | 119,444 | |
Molina Healthcare, Inc. * | | | 1,818 | | | | 635,918 | |
Neurocrine Biosciences, Inc. * | | | 1,701 | | | | 216,129 | |
Organon & Co. | | | 3,992 | | | | 89,221 | |
Perrigo Co. PLC | | | 2,470 | | | | 71,877 | |
Premier, Inc., Class A | | | 1,539 | | | | 31,349 | |
QIAGEN NV * | | | 1,218 | | | | 55,675 | |
Quest Diagnostics, Inc. | | | 1,710 | | | | 268,419 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Regeneron Pharmaceuticals, Inc.* | | | 350 | | | | 414,641 | |
Repligen Corp. * | | | 126 | | | | 19,017 | |
ResMed, Inc. | | | 532 | | | | 130,351 | |
Revvity, Inc. | | | 243 | | | | 29,777 | |
Royalty Pharma PLC, Class A | | | 2,885 | | | | 83,752 | |
Solventum Corp. * | | | 8,661 | | | | 555,257 | |
STERIS PLC | | | 589 | | | | 142,008 | |
Stryker Corp. | | | 316 | | | | 113,893 | |
Teleflex, Inc. | | | 187 | | | | 45,847 | |
Tenet Healthcare Corp. * | | | 207 | | | | 34,329 | |
Thermo Fisher Scientific, Inc. | | | 98 | | | | 60,277 | |
United Therapeutics Corp. * | | | 1,891 | | | | 687,473 | |
UnitedHealth Group, Inc. | | | 175 | | | | 103,285 | |
Universal Health Services, Inc., Class B | | | 1,711 | | | | 407,167 | |
Veeva Systems, Inc., Class A * | | | 618 | | | | 133,760 | |
Vertex Pharmaceuticals, Inc. * | | | 532 | | | | 263,813 | |
Viatris, Inc. | | | 28,028 | | | | 338,578 | |
Waters Corp. * | | | 96 | | | | 33,250 | |
West Pharmaceutical Services, Inc. | | | 704 | | | | 220,795 | |
Zimmer Biomet Holdings, Inc. | | | 446 | | | | 51,495 | |
Zoetis, Inc. | | | 512 | | | | 93,947 | |
| | |
(Cost $15,961,402) | | | | | | | 19,168,957 | |
| | |
Industrials — 18.6% | | | | | | | | |
3M Co. | | | 912 | | | | 122,837 | |
A O Smith Corp. | | | 4,346 | | | | 363,847 | |
AAON, Inc. | | | 1,918 | | | | 183,188 | |
Acuity Brands, Inc. | | | 1,275 | | | | 324,742 | |
Advanced Drainage Systems, Inc. | | | 598 | | | | 93,742 | |
AECOM | | | 1,440 | | | | 144,202 | |
AGCO Corp. | | | 507 | | | | 46,157 | |
Alaska Air Group, Inc. * | | | 1,902 | | | | 68,681 | |
Allegion PLC | | | 1,237 | | | | 171,745 | |
Allison Transmission Holdings, Inc. | | | 5,489 | | | | 509,105 | |
American Airlines Group, Inc. * | | | 663 | | | | 7,041 | |
AMETEK, Inc. | | | 800 | | | | 136,840 | |
API Group Corp. * | | | 1,477 | | | | 52,507 | |
Armstrong World Industries, Inc. | | | 1,596 | | | | 202,309 | |
Automatic Data Processing, Inc. | | | 614 | | | | 169,409 | |
Axon Enterprise, Inc. * | | | 88 | | | | 32,117 | |
AZEK Co., Inc. * | | | 1,633 | | | | 69,615 | |
Booz Allen Hamilton Holding Corp. | | | 1,761 | | | | 279,612 | |
Broadridge Financial Solutions, Inc. | | | 2,260 | | | | 481,064 | |
Builders FirstSource, Inc. * | | | 912 | | | | 158,688 | |
BWX Technologies, Inc. | | | 1,675 | | | | 172,525 | |
C.H. Robinson Worldwide, Inc. | | | 382 | | | | 39,541 | |
See Notes to Financial Statements.
44 | DBX ETF Trust
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
CACI International, Inc., Class A* | | | 1,036 | | | | 505,692 | |
Carlisle Cos., Inc. | | | 899 | | | | 380,996 | |
Carrier Global Corp. | | | 3,693 | | | | 268,777 | |
Caterpillar, Inc. | | | 883 | | | | 314,436 | |
Cintas Corp. | | | 288 | | | | 231,875 | |
Clarivate PLC * | | | 1,995 | | | | 13,686 | |
Clean Harbors, Inc. * | | | 778 | | | | 191,310 | |
CNH Industrial NV | | | 2,887 | | | | 29,852 | |
Comfort Systems USA, Inc. | | | 932 | | | | 329,481 | |
Copart, Inc. * | | | 4,340 | | | | 229,846 | |
Core & Main, Inc., Class A * | | | 10,377 | | | | 498,407 | |
Crane Co. | | | 1,503 | | | | 238,045 | |
CSX Corp. | | | 4,217 | | | | 144,517 | |
Cummins, Inc. | | | 2,521 | | | | 788,695 | |
Curtiss-Wright Corp. | | | 908 | | | | 286,801 | |
Dayforce, Inc. * | | | 284 | | | | 16,236 | |
Deere & Co. | | | 428 | | | | 165,097 | |
Delta Air Lines, Inc. | | | 7,615 | | | | 323,561 | |
Donaldson Co., Inc. | | | 3,428 | | | | 249,318 | |
Dover Corp. | | | 1,208 | | | | 224,724 | |
Dun & Bradstreet Holdings, Inc. | | | 1,405 | | | | 16,860 | |
Eaton Corp. PLC | | | 499 | | | | 153,158 | |
EMCOR Group, Inc. | | | 1,615 | | | | 634,792 | |
Emerson Electric Co. | | | 197 | | | | 20,762 | |
Equifax, Inc. | | | 297 | | | | 91,218 | |
Esab Corp. | | | 1,184 | | | | 124,284 | |
Expeditors International of Washington, Inc. | | | 1,650 | | | | 203,626 | |
Fastenal Co. | | | 6,629 | | | | 452,628 | |
FedEx Corp. | | | 1,267 | | | | 378,542 | |
Ferguson Enterprises, Inc. | | | 5,037 | | | | 1,036,161 | |
Flowserve Corp. | | | 2,912 | | | | 145,251 | |
Fortive Corp. | | | 1,959 | | | | 145,750 | |
Fortune Brands Innovations, Inc. | | | 1,249 | | | | 99,183 | |
FTI Consulting, Inc. * | | | 359 | | | | 81,963 | |
Gates Industrial Corp. PLC * | | | 5,204 | | | | 94,505 | |
GE Vernova, Inc. * | | | 814 | | | | 163,614 | |
Generac Holdings, Inc. * | | | 284 | | | | 44,455 | |
General Dynamics Corp. | | | 1,264 | | | | 378,391 | |
General Electric Co. | | | 944 | | | | 164,841 | |
Genpact Ltd. | | | 1,478 | | | | 57,982 | |
Graco, Inc. | | | 1,546 | | | | 128,859 | |
GXO Logistics, Inc. * | | | 428 | | | | 21,421 | |
Hayward Holdings, Inc. * | | | 488 | | | | 7,242 | |
HEICO Corp. | | | 39 | | | | 10,006 | |
HEICO Corp., Class A | | | 90 | | | | 18,008 | |
Hexcel Corp. | | | 801 | | | | 50,695 | |
Honeywell International, Inc. | | | 368 | | | | 76,511 | |
Howmet Aerospace, Inc. | | | 1,680 | | | | 162,389 | |
Hubbell, Inc. | | | 424 | | | | 169,566 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Huntington Ingalls Industries, Inc. | | | 1,491 | | | | 421,610 | |
IDEX Corp. | | | 645 | | | | 133,180 | |
Illinois Tool Works, Inc. | | | 711 | | | | 180,011 | |
Ingersoll Rand, Inc. | | | 2,748 | | | | 251,305 | |
ITT, Inc. | | | 2,849 | | | | 396,638 | |
Jacobs Solutions, Inc. | | | 2,820 | | | | 425,482 | |
JB Hunt Transport Services, Inc. | | | 735 | | | | 127,302 | |
Johnson Controls International PLC | | | 2,780 | | | | 202,523 | |
KBR, Inc. | | | 758 | | | | 52,575 | |
Kirby Corp. * | | | 1,521 | | | | 182,398 | |
Knight-Swift Transportation Holdings, Inc. | | | 479 | | | | 25,090 | |
L3Harris Technologies, Inc. | | | 440 | | | | 104,135 | |
Landstar System, Inc. | | | 590 | | | | 107,710 | |
Leidos Holdings, Inc. | | | 6,943 | | | | 1,100,535 | |
Lennox International, Inc. | | | 579 | | | | 341,720 | |
Lincoln Electric Holdings, Inc. | | | 1,315 | | | | 254,597 | |
Lockheed Martin Corp. | | | 356 | | | | 202,244 | |
ManpowerGroup, Inc. | | | 1,027 | | | | 75,916 | |
Masco Corp. | | | 5,799 | | | | 461,368 | |
MasTec, Inc. * | | | 702 | | | | 79,417 | |
MDU Resources Group, Inc. | | | 5,674 | | | | 145,765 | |
Middleby Corp. * | | | 153 | | | | 21,515 | |
MSA Safety, Inc. | | | 227 | | | | 41,457 | |
MSC Industrial Direct Co., Inc., Class A | | | 1,219 | | | | 100,251 | |
Nordson Corp. | | | 305 | | | | 78,251 | |
Norfolk Southern Corp. | | | 376 | | | | 96,316 | |
Northrop Grumman Corp. | | | 256 | | | | 133,942 | |
nVent Electric PLC | | | 1,617 | | | | 109,891 | |
Old Dominion Freight Line, Inc. | | | 1,451 | | | | 279,753 | |
Oshkosh Corp. | | | 2,992 | | | | 322,867 | |
Otis Worldwide Corp. | | | 2,203 | | | | 208,602 | |
Owens Corning | | | 3,273 | | | | 552,253 | |
PACCAR, Inc. | | | 7,023 | | | | 675,472 | |
Parker-Hannifin Corp. | | | 70 | | | | 42,014 | |
Parsons Corp. * | | | 2,861 | | | | 273,111 | |
Paychex, Inc. | | | 2,389 | | | | 313,437 | |
Paycom Software, Inc. | | | 1,557 | | | | 253,448 | |
Paylocity Holding Corp. * | | | 194 | | | | 31,312 | |
Pentair PLC | | | 2,684 | | | | 238,044 | |
Quanta Services, Inc. | | | 946 | | | | 260,273 | |
RBC Bearings, Inc. * | | | 230 | | | | 68,506 | |
Regal Rexnord Corp. | | | 215 | | | | 36,079 | |
Republic Services, Inc. | | | 1,780 | | | | 370,614 | |
Robert Half, Inc. | | | 2,215 | | | | 138,814 | |
Rockwell Automation, Inc. | | | 826 | | | | 224,697 | |
Rollins, Inc. | | | 5,256 | | | | 263,746 | |
RTX Corp. | | | 958 | | | | 118,160 | |
Ryder System, Inc. | | | 1,580 | | | | 229,479 | |
See Notes to Financial Statements.
DBX ETF Trust | 45
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Saia, Inc. * | | | 329 | | | | 123,648 | |
Schneider National, Inc., Class B | | | 577 | | | | 15,642 | |
Science Applications International Corp. | | | 3,173 | | | | 414,362 | |
Sensata Technologies Holding PLC | | | 555 | | | | 21,395 | |
Simpson Manufacturing Co., Inc. | | | 1,732 | | | | 317,060 | |
SiteOne Landscape Supply, Inc.* | | | 576 | | | | 81,711 | |
Snap-on, Inc. | | | 1,699 | | | | 482,074 | |
Southwest Airlines Co. | | | 9,527 | | | | 275,521 | |
SS&C Technologies Holdings, Inc. | | | 2,322 | | | | 174,359 | |
Stanley Black & Decker, Inc. | | | 460 | | | | 47,086 | |
Stericycle, Inc. * | | | 663 | | | | 39,289 | |
Tetra Tech, Inc. | | | 618 | | | | 146,923 | |
Textron, Inc. | | | 3,513 | | | | 320,386 | |
Timken Co. | | | 911 | | | | 77,007 | |
Toro Co. | | | 677 | | | | 62,690 | |
Trane Technologies PLC | | | 987 | | | | 356,958 | |
TransDigm Group, Inc. | | | 27 | | | | 37,077 | |
TransUnion | | | 562 | | | | 54,407 | |
Trex Co., Inc. * | | | 1,285 | | | | 81,906 | |
Uber Technologies, Inc. * | | | 219 | | | | 16,015 | |
U-Haul Holding Co. * | | | 257 | | | | 18,252 | |
U-Haul Holding Co. | | | 2,350 | | | | 160,622 | |
Union Pacific Corp. | | | 337 | | | | 86,302 | |
United Airlines Holdings, Inc. * | | | 162 | | | | 7,134 | |
United Parcel Service, Inc., Class B | | | 738 | | | | 94,870 | |
United Rentals, Inc. | | | 422 | | | | 312,812 | |
Valmont Industries, Inc. | | | 132 | | | | 37,720 | |
Veralto Corp. | | | 1,146 | | | | 128,845 | |
Verisk Analytics, Inc. | | | 689 | | | | 187,973 | |
Vertiv Holdings Co., Class A | | | 656 | | | | 54,468 | |
Vestis Corp. | | | 7,667 | | | | 107,875 | |
W.W. Grainger, Inc. | | | 491 | | | | 483,596 | |
Waste Management, Inc. | | | 1,780 | | | | 377,431 | |
Watsco, Inc. | | | 619 | | | | 294,285 | |
WESCO International, Inc. | | | 244 | | | | 40,353 | |
Westinghouse Air Brake Technologies Corp. | | | 1,552 | | | | 263,173 | |
WillScot Holdings Corp. * | | | 724 | | | | 27,903 | |
Woodward, Inc. | | | 697 | | | | 116,155 | |
XPO, Inc. * | | | 198 | | | | 22,695 | |
Xylem, Inc. | | | 49 | | | | 6,739 | |
| | |
(Cost $24,105,983) | | | | | | | 31,122,073 | |
| | |
Information Technology — 13.7% | | | | | | | | |
Accenture PLC, Class A | | | 362 | | | | 123,786 | |
Adobe, Inc. * | | | 526 | | | | 302,140 | |
Advanced Micro Devices, Inc. * | | | 124 | | | | 18,421 | |
Akamai Technologies, Inc. * | | | 3,786 | | | | 385,566 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Amdocs Ltd. | | | 3,439 | | | | 299,090 | |
Amkor Technology, Inc. | | | 3,523 | | | | 115,907 | |
Amphenol Corp., Class A | | | 8,144 | | | | 549,313 | |
Analog Devices, Inc. | | | 1,261 | | | | 296,133 | |
ANSYS, Inc. * | | | 243 | | | | 78,105 | |
Appfolio, Inc., Class A * | | | 65 | | | | 15,079 | |
Apple, Inc. | | | 805 | | | | 184,345 | |
Applied Materials, Inc. | | | 1,954 | | | | 385,446 | |
AppLovin Corp., Class A * | | | 192 | | | | 17,831 | |
Arista Networks, Inc. * | | | 721 | | | | 254,787 | |
Arrow Electronics, Inc. * | | | 485 | | | | 65,514 | |
Aspen Technology, Inc. * | | | 353 | | | | 82,651 | |
Astera Labs, Inc. * | | | 279 | | | | 12,014 | |
Atlassian Corp., Class A * | | | 295 | | | | 48,852 | |
Autodesk, Inc. * | | | 1,023 | | | | 264,343 | |
Avnet, Inc. | | | 51 | | | | 2,814 | |
Bentley Systems, Inc., Class B | | | 416 | | | | 21,412 | |
Broadcom, Inc. | | | 410 | | | | 66,756 | |
Cadence Design Systems, Inc. * | | | 1,229 | | | | 330,515 | |
CCC Intelligent Solutions Holdings, Inc. * | | | 2,096 | | | | 22,595 | |
CDW Corp. | | | 1,455 | | | | 328,306 | |
Ciena Corp. * | | | 2,512 | | | | 144,817 | |
Cirrus Logic, Inc. * | | | 2,909 | | | | 423,812 | |
Cisco Systems, Inc. | | | 4,244 | | | | 214,492 | |
Cognex Corp. | | | 228 | | | | 9,207 | |
Cognizant Technology Solutions Corp., Class A | | | 12,372 | | | | 962,170 | |
Corning, Inc. | | | 2,568 | | | | 107,471 | |
Crane NXT Co. | | | 865 | | | | 50,819 | |
Crowdstrike Holdings, Inc., Class A* | | | 173 | | | | 47,969 | |
Datadog, Inc., Class A * | | | 143 | | | | 16,625 | |
Dell Technologies, Inc., Class C | | | 2,230 | | | | 257,654 | |
DocuSign, Inc. * | | | 500 | | | | 29,605 | |
Dolby Laboratories, Inc., Class A | | | 2,337 | | | | 166,768 | |
DoubleVerify Holdings, Inc. * | | | 1,156 | | | | 22,773 | |
Dropbox, Inc., Class A * | | | 15,534 | | | | 390,525 | |
DXC Technology Co. * | | | 1,772 | | | | 36,627 | |
Dynatrace, Inc. * | | | 912 | | | | 46,165 | |
Entegris, Inc. | | | 637 | | | | 73,809 | |
EPAM Systems, Inc. * | | | 874 | | | | 175,464 | |
F5, Inc. * | | | 3,430 | | | | 696,804 | |
Fair Isaac Corp. * | | | 118 | | | | 204,172 | |
First Solar, Inc. * | | | 143 | | | | 32,514 | |
Fortinet, Inc. * | | | 8,050 | | | | 617,515 | |
Gartner, Inc. * | | | 1,099 | | | | 540,664 | |
Gen Digital, Inc. | | | 15,529 | | | | 410,897 | |
GLOBALFOUNDRIES, Inc. * | | | 81 | | | | 3,781 | |
Globant SA * | | | 287 | | | | 58,043 | |
GoDaddy, Inc., Class A * | | | 6,094 | | | | 1,020,197 | |
Guidewire Software, Inc. * | | | 627 | | | | 93,279 | |
See Notes to Financial Statements.
46 | DBX ETF Trust
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Hewlett Packard Enterprise Co. | | | 21,259 | | | | 411,787 | |
HP, Inc. | | | 8,175 | | | | 295,771 | |
HubSpot, Inc. * | | | 62 | | | | 30,942 | |
Informatica, Inc., Class A * | | | 519 | | | | 12,928 | |
Intel Corp. | | | 1,142 | | | | 25,170 | |
International Business Machines Corp. | | | 2,599 | | | | 525,336 | |
Intuit, Inc. | | | 624 | | | | 393,282 | |
IPG Photonics Corp. * | | | 420 | | | | 28,715 | |
Jabil, Inc. | | | 7,352 | | | | 803,427 | |
Juniper Networks, Inc. | | | 3,216 | | | | 125,038 | |
Keysight Technologies, Inc. * | | | 2,127 | | | | 327,813 | |
KLA Corp. | | | 773 | | | | 633,419 | |
Kyndryl Holdings, Inc. * | | | 1,129 | | | | 26,746 | |
Lam Research Corp. | | | 543 | | | | 445,808 | |
Lattice Semiconductor Corp. * | | | 1,980 | | | | 93,773 | |
Littelfuse, Inc. | | | 178 | | | | 48,452 | |
Lumentum Holdings, Inc. * | | | 315 | | | | 18,147 | |
MACOM Technology Solutions Holdings, Inc. * | | | 671 | | | | 73,293 | |
Manhattan Associates, Inc. * | | | 1,147 | | | | 303,301 | |
Marvell Technology, Inc. | | | 578 | | | | 44,067 | |
Microchip Technology, Inc. | | | 2,499 | | | | 205,318 | |
Microsoft Corp. | | | 774 | | | | 322,866 | |
MKS Instruments, Inc. | | | 59 | | | | 7,035 | |
Monolithic Power Systems, Inc. | | | 344 | | | | 321,530 | |
Motorola Solutions, Inc. | | | 1,190 | | | | 526,028 | |
NetApp, Inc. | | | 7,315 | | | | 883,067 | |
Nutanix, Inc., Class A * | | | 282 | | | | 17,820 | |
NVIDIA Corp. | | | 947 | | | | 113,043 | |
Okta, Inc. * | | | 177 | | | | 13,935 | |
ON Semiconductor Corp. * | | | 200 | | | | 15,574 | |
Onto Innovation, Inc. * | | | 673 | | | | 143,497 | |
Oracle Corp. | | | 66 | | | | 9,325 | |
Palo Alto Networks, Inc. * | | | 530 | | | | 192,242 | |
Procore Technologies, Inc. * | | | 822 | | | | 48,720 | |
PTC, Inc. * | | | 504 | | | | 90,261 | |
Pure Storage, Inc., Class A * | | | 1,747 | | | | 89,604 | |
Qorvo, Inc. * | | | 2,140 | | | | 248,005 | |
QUALCOMM, Inc. | | | 1,630 | | | | 285,739 | |
Roper Technologies, Inc. | | | 368 | | | | 204,023 | |
Salesforce, Inc. | | | 932 | | | | 235,703 | |
ServiceNow, Inc. * | | | 336 | | | | 287,280 | |
Skyworks Solutions, Inc. | | | 6,367 | | | | 697,760 | |
Smartsheet, Inc., Class A * | | | 361 | | | | 17,617 | |
Snowflake, Inc., Class A * | | | 80 | | | | 9,138 | |
Super Micro Computer, Inc. * | | | 24 | | | | 10,505 | |
Synopsys, Inc. * | | | 802 | | | | 416,703 | |
TD SYNNEX Corp. | | | 2,637 | | | | 320,185 | |
Teledyne Technologies, Inc. * | | | 222 | | | | 96,082 | |
Teradata Corp. * | | | 2,470 | | | | 69,753 | |
Teradyne, Inc. | | | 1,901 | | | | 259,924 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Texas Instruments, Inc. | | | 799 | | | | 171,258 | |
Trimble, Inc. * | | | 568 | | | | 32,200 | |
Tyler Technologies, Inc. * | | | 342 | | | | 201,052 | |
Universal Display Corp. | | | 656 | | | | 127,080 | |
VeriSign, Inc. * | | | 415 | | | | 76,318 | |
Vontier Corp. | | | 3,051 | | | | 106,877 | |
Workday, Inc., Class A * | | | 863 | | | | 227,133 | |
Zebra Technologies Corp., Class A* | | | 53 | | | | 18,305 | |
Zoom Video Communications, Inc., Class A * | | | 298 | | | | 20,586 | |
Zscaler, Inc. * | | | 100 | | | | 19,998 | |
| | |
(Cost $19,023,129) | | | | | | | 22,952,663 | |
| | |
Materials — 5.7% | | | | | | | | |
Air Products and Chemicals, Inc. | | | 641 | | | | 178,743 | |
Albemarle Corp. | | | 187 | | | | 16,877 | |
Amcor PLC | | | 14,509 | | | | 165,983 | |
AptarGroup, Inc. | | | 1,560 | | | | 238,976 | |
Ashland, Inc. | | | 483 | | | | 43,228 | |
ATI, Inc. * | | | 420 | | | | 26,830 | |
Avery Dennison Corp. | | | 1,218 | | | | 270,213 | |
Axalta Coating Systems Ltd. * | | | 1,707 | | | | 62,306 | |
Ball Corp. | | | 2,114 | | | | 134,894 | |
Berry Global Group, Inc. | | | 1,066 | | | | 73,405 | |
Celanese Corp. | | | 4,223 | | | | 551,524 | |
CF Industries Holdings, Inc. | | | 3,197 | | | | 265,639 | |
Chemours Co. | | | 697 | | | | 13,550 | |
Cleveland-Cliffs, Inc. * | | | 1,347 | | | | 17,592 | |
Corteva, Inc. | | | 1,733 | | | | 99,301 | |
CRH PLC | | | 7,533 | | | | 683,770 | |
Crown Holdings, Inc. | | | 1,337 | | | | 120,878 | |
Dow, Inc. | | | 2,565 | | | | 137,433 | |
DuPont de Nemours, Inc. | | | 2,294 | | | | 193,269 | |
Eagle Materials, Inc. | | | 1,438 | | | | 370,645 | |
Eastman Chemical Co. | | | 3,056 | | | | 312,843 | |
Ecolab, Inc. | | | 847 | | | | 214,443 | |
Element Solutions, Inc. | | | 3,350 | | | | 89,579 | |
FMC Corp. | | | 163 | | | | 10,527 | |
Freeport-McMoRan, Inc. | | | 1,533 | | | | 67,881 | |
Graphic Packaging Holding Co. | | | 4,669 | | | | 139,743 | |
Huntsman Corp. | | | 1,246 | | | | 27,474 | |
International Flavors & Fragrances, Inc. | | | 864 | | | | 89,847 | |
International Paper Co. | | | 9,817 | | | | 475,339 | |
Linde PLC | | | 301 | | | | 143,953 | |
Louisiana-Pacific Corp. | | | 193 | | | | 18,731 | |
LyondellBasell Industries NV, Class A | | | 2,062 | | | | 203,519 | |
Martin Marietta Materials, Inc. | | | 437 | | | | 233,428 | |
Mosaic Co. | | | 662 | | | | 18,913 | |
NewMarket Corp. | | | 418 | | | | 239,836 | |
Nucor Corp. | | | 4,123 | | | | 626,325 | |
See Notes to Financial Statements.
DBX ETF Trust | 47
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Olin Corp. | | | 1,405 | | | | 61,356 | |
Packaging Corp. of America | | | 2,029 | | | | 425,157 | |
PPG Industries, Inc. | | | 713 | | | | 92,497 | |
Reliance, Inc. | | | 1,985 | | | | 569,000 | |
Royal Gold, Inc. | | | 1,209 | | | | 169,466 | |
RPM International, Inc. | | | 2,208 | | | | 256,680 | |
Scotts Miracle-Gro Co. | | | 584 | | | | 41,452 | |
Sealed Air Corp. | | | 550 | | | | 19,223 | |
Sherwin-Williams Co. | | | 758 | | | | 279,982 | |
Silgan Holdings, Inc. | | | 1,376 | | | | 71,924 | |
Sonoco Products Co. | | | 1,564 | | | | 88,475 | |
Southern Copper Corp. | | | 299 | | | | 30,414 | |
Steel Dynamics, Inc. | | | 4,109 | | | | 491,067 | |
United States Steel Corp. | | | 624 | | | | 23,656 | |
Vulcan Materials Co. | | | 761 | | | | 186,605 | |
Westlake Corp. | | | 588 | | | | 85,519 | |
| | |
(Cost $7,645,288) | | | | | | | 9,469,910 | |
| | |
Real Estate — 2.8% | | | | | | | | |
Agree Realty Corp. REIT | | | 259 | | | | 18,910 | |
Alexandria Real Estate Equities, Inc. REIT | | | 229 | | | | 27,381 | |
American Homes 4 Rent, Class A REIT | | | 1,814 | | | | 72,143 | |
American Tower Corp. REIT | | | 123 | | | | 27,559 | |
AvalonBay Communities, Inc. REIT | | | 737 | | | | 166,363 | |
Brixmor Property Group, Inc. REIT | | | 2,079 | | | | 56,944 | |
BXP, Inc. REIT | | | 568 | | | | 42,725 | |
Camden Property Trust REIT | | | 675 | | | | 84,510 | |
CBRE Group, Inc., Class A * | | | 3,086 | | | | 355,322 | |
CoStar Group, Inc. * | | | 478 | | | | 36,949 | |
Cousins Properties, Inc. REIT | | | 712 | | | | 20,299 | |
Crown Castle, Inc. REIT | | | 651 | | | | 72,925 | |
CubeSmart REIT | | | 3,722 | | | | 192,911 | |
Digital Realty Trust, Inc. REIT | | | 787 | | | | 119,317 | |
EastGroup Properties, Inc. REIT | | | 301 | | | | 56,106 | |
Equinix, Inc. REIT | | | 44 | | | | 36,712 | |
Equity LifeStyle Properties, Inc. REIT | | | 1,079 | | | | 78,454 | |
Equity Residential REIT | | | 1,862 | | | | 139,427 | |
Essex Property Trust, Inc. REIT | | | 430 | | | | 129,770 | |
Extra Space Storage, Inc. REIT | | | 709 | | | | 125,493 | |
Federal Realty Investment Trust REIT | | | 452 | | | | 51,980 | |
First Industrial Realty Trust, Inc. REIT | | | 991 | | | | 56,219 | |
Gaming and Leisure Properties, Inc. REIT | | | 891 | | | | 46,350 | |
Healthpeak Properties, Inc. REIT | | | 1,667 | | | | 37,141 | |
Highwoods Properties, Inc. REIT | | | 1,759 | | | | 56,675 | |
Host Hotels & Resorts, Inc. REIT | | | 15,126 | | | | 267,730 | |
Invitation Homes, Inc. REIT | | | 1,851 | | | | 68,191 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
Iron Mountain, Inc. REIT | | | 847 | | | | 95,931 | |
Jones Lang LaSalle, Inc. * | | | 557 | | | | 142,163 | |
Kilroy Realty Corp. REIT | | | 1,317 | | | | 47,768 | |
Kimco Realty Corp. REIT | | | 2,237 | | | | 52,033 | |
Lamar Advertising Co., Class A REIT | | | 2,266 | | | | 285,017 | |
Mid-America Apartment Communities, Inc. REIT | | | 510 | | | | 82,809 | |
National Storage Affiliates Trust REIT | | | 1,392 | | | | 65,062 | |
NNN REIT, Inc. REIT | | | 2,026 | | | | 95,202 | |
Omega Healthcare Investors, Inc. REIT | | | 418 | | | | 16,528 | |
Prologis, Inc. REIT | | | 311 | | | | 39,752 | |
Public Storage REIT | | | 988 | | | | 339,595 | |
Rayonier, Inc. REIT | | | 1,021 | | | | 31,457 | |
Realty Income Corp. REIT | | | 378 | | | | 23,478 | |
Regency Centers Corp. REIT | | | 725 | | | | 52,700 | |
Rexford Industrial Realty, Inc. REIT | | | 335 | | | | 17,058 | |
SBA Communications Corp. REIT | | | 375 | | | | 84,997 | |
Simon Property Group, Inc. REIT | | | 1,182 | | | | 197,808 | |
STAG Industrial, Inc. REIT | | | 1,155 | | | | 46,870 | |
UDR, Inc. REIT | | | 1,497 | | | | 66,631 | |
VICI Properties, Inc. REIT | | | 5,296 | | | | 177,310 | |
Vornado Realty Trust REIT | | | 662 | | | | 22,753 | |
Welltower, Inc. REIT | | | 131 | | | | 15,809 | |
Weyerhaeuser Co. REIT | | | 3,740 | | | | 114,033 | |
WP Carey, Inc. REIT | | | 1,585 | | | | 95,132 | |
| | |
(Cost $3,841,421) | | | | | | | 4,652,402 | |
| | |
Utilities — 5.7% | | | | | | | | |
AES Corp. | | | 6,828 | | | | 116,964 | |
Alliant Energy Corp. | | | 2,506 | | | | 146,025 | |
Ameren Corp. | | | 1,742 | | | | 143,732 | |
American Electric Power Co., Inc. | | | 3,801 | | | | 381,164 | |
American Water Works Co., Inc. | | | 561 | | | | 80,290 | |
Atmos Energy Corp. | | | 3,580 | | | | 468,049 | |
Avangrid, Inc. | | | 421 | | | | 15,026 | |
Brookfield Renewable Corp., Class A | | | 727 | | | | 20,712 | |
CenterPoint Energy, Inc. | | | 9,711 | | | | 265,110 | |
Clearway Energy, Inc., Class C | | | 605 | | | | 17,521 | |
CMS Energy Corp. | | | 4,215 | | | | 286,030 | |
Consolidated Edison, Inc. | | | 3,299 | | | | 335,046 | |
Constellation Energy Corp. | | | 68 | | | | 13,376 | |
Dominion Energy, Inc. | | | 5,020 | | | | 280,618 | |
DTE Energy Co. | | | 1,548 | | | | 193,531 | |
Duke Energy Corp. | | | 3,059 | | | | 348,573 | |
Edison International | | | 4,096 | | | | 356,475 | |
Entergy Corp. | | | 5,199 | | | | 627,467 | |
Essential Utilities, Inc. | | | 2,295 | | | | 89,482 | |
See Notes to Financial Statements.
48 | DBX ETF Trust
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ |
| | |
Evergy, Inc. | | | 3,255 | | | | 192,501 | |
Eversource Energy | | | 1,004 | | | | 67,800 | |
Exelon Corp. | | | 6,149 | | | | 234,215 | |
FirstEnergy Corp. | | | 4,939 | | | | 216,921 | |
IDACORP, Inc. | | | 637 | | | | 64,917 | |
National Fuel Gas Co. | | | 5,189 | | | | 310,095 | |
NextEra Energy, Inc. | | | 1,529 | | | | 123,100 | |
NiSource, Inc. | | | 9,298 | | | | 307,392 | |
NRG Energy, Inc. | | | 6,081 | | | | 516,946 | |
OGE Energy Corp. | | | 5,808 | | | | 229,765 | |
PG&E Corp. | | | 3,966 | | | | 78,130 | |
Pinnacle West Capital Corp. | | | 1,852 | | | | 162,087 | |
PPL Corp. | | | 9,544 | | | | 304,549 | |
Public Service Enterprise Group, Inc. | | | 7,838 | | | | 632,919 | |
Sempra | | | 4,541 | | | | 373,179 | |
Southern Co. | | | 3,001 | | | | 259,286 | |
UGI Corp. | | | 896 | | | | 22,319 | |
Vistra Corp. | | | 9,713 | | | | 829,782 | |
WEC Energy Group, Inc. | | | 2,274 | | | | 211,550 | |
Xcel Energy, Inc. | | | 4,376 | | | | 267,942 | |
| | |
(Cost $8,269,795) | | | | | | | 9,590,586 | |
| | |
TOTAL COMMON STOCKS | | | | | | | | |
| | |
(Cost $135,848,767) | | | | | | | 166,012,653 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ |
| | |
EXCHANGE-TRADED FUNDS — 0.2% | | | | | | | | |
iShares Russell 1000 ETF | | | 650 | | | | 200,889 | |
Vanguard S&P 500 ETF | | | 293 | | | | 151,786 | |
| | |
(Cost $289,378) | | | | | | | 352,675 | |
| | |
SECURITIES LENDING COLLATERAL — 0.2% | | | | | | | | |
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (b)(c) | | | | | | | | |
| | |
(Cost $285,484) | | | 285,484 | | | | 285,484 | |
| | |
CASH EQUIVALENTS — 0.5% | | | | | | | | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (b) | | | | | | | | |
| | |
(Cost $911,119) | | | 911,119 | | | | 911,119 | |
| | |
TOTAL INVESTMENTS — 100.0% | | | | | | | | |
| | |
(Cost $137,334,748) | | | | | | | 167,561,931 | |
| | |
Other assets and liabilities, net — (0.0)% | | | | | | | (46,740 | ) |
| | |
NET ASSETS — 100.0% | | | | | | | 167,515,191 | |
A summary of the Fund’s transactions with affiliated investments during the year ended August 31, 2024 is as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | Net Change | | | | | | | | | | | | | |
| | | | | | | | | | | | | in Unrealized | | | | | | | | | | | | | |
| | | | | | | | | | Net Realized | | | Appreciation | | | | | | Capital Gain | | | Number of | | | | |
| Value ($) at | | | Purchases Cost | | | Sales | | | Gain/(Loss) | | | (Depreciation) | | | | | | Distributions | | | Shares at | | | Value ($) at | |
| 8/31/2023 | | | ($) | | | Proceeds ($) | | | ($) | | | ($) | | | Income ($) | | | ($) | | | 8/31/2024 | | | 8/31/2024 | |
| | SECURITIES LENDING COLLATERAL — 0.2% | | | | | | | | | | | | | |
| | DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (b)(c) | |
| | — | | | | 285,484 (d) | | | | — | | | | — | | | | — | | | | 3,531 | | | | — | | | | 285,484 | | | | 285,484 | |
| | | |
| | CASH EQUIVALENTS — 0.5% | | | | | | | | | | | | | |
| | DWS Government Money Market Series “Institutional Shares”, 5.24% (b) | |
| | 139,790 | | | | 4,143,154 | | | | (3,371,825) | | | | — | | | | — | | | | 21,158 | | | | — | | | | 911,119 | | | | 911,119 | |
| | | | | | | | | |
| | 139,790 | | | | 4,428,638 | | | | (3,371,825) | | | | — | | | | — | | | | 24,689 | | | | — | | | | 1,196,603 | | | | 1,196,603 | |
| * | Non-income producing security. |
| (a) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at August 31, 2024 amounted to $279,675, which is 0.2% of net assets. |
| (b) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
| (c) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. |
| (d) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the year ended August 31, 2024. |
REIT: Real Estate Investment Trust
See Notes to Financial Statements.
DBX ETF Trust | 49
Schedule of Investments
Xtrackers Russell US Multifactor ETF (Continued)
August 31, 2024
At August 31, 2024, open futures contracts purchased were as follows:
| | | | | | | | | | | | | | | | | | | | | | | | |
| Contract Description | | Currency | | Number of
Contracts | | Notional
Amount ($) | | Contract Value
($) | | Expiration
Date | | Unrealized
Appreciation ($) | |
| | | | | | |
Micro E-Mini S&P 500 Futures | | | USD | | | | 5 | | | | 138,252 | | | | 141,525 | | | | 9/20/2024 | | | | 3,273 | |
| | | | | | |
Micro E-mini S&P MidCap 400 Index Futures | | | USD | | | | 11 | | | | 323,110 | | | | 340,791 | | | | 9/20/2024 | | | | 17,681 | |
| | | | | | |
S&P 500 E-Mini Futures | | | USD | | | | 2 | | | | 554,762 | | | | 566,100 | | | | 9/20/2024 | | | | 11,338 | |
| | | | | | | |
Total unrealized appreciation | | | | | | | | | | | | | | | | | | | | | | | 32,292 | |
For information on the Fund’s policy and additional disclosures regarding futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
| | |
| Currency Abbreviations |
| |
USD | | U.S. Dollar |
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of August 31, 2024 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
| | | | | | | | | | | | | | | | |
| Assets | | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
| | | | |
Common Stocks (a) | | $ | 166,012,653 | | | $ | — | | | $ | — | | | $ | 166,012,653 | |
| | | | |
Exchange-Traded Funds | | | 352,675 | | | | — | | | | — | | | | 352,675 | |
| | | | |
Short-Term Investments (a) | | | 1,196,603 | | | | — | | | | — | | | | 1,196,603 | |
| | | | |
Derivatives (b) | | | | | | | | | | | | | | | | |
| | | | |
Futures Contracts | | | 32,292 | | | | — | | | | — | | | | 32,292 | |
| | | | | |
TOTAL | | $ | 167,594,223 | | | $ | — | | | $ | — | | | $ | 167,594,223 | |
| (a) | See Schedule of Investments for additional detailed categorizations. |
| (b) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
See Notes to Financial Statements.
50 | DBX ETF��Trust
Statements of Assets and Liabilities
August 31, 2024
| | | | | | | | | | | | | | | | |
| | | 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 | | $ | 55,382,605 | | | $ | 599,451,245 | | | $ | 68,001,598 | | | $ | 166,365,328 | |
Investment in affiliated securities at value | | | 11,494 | | | | 299,132 | | | | — | | | | — | |
Investment in DWS Government Money Market Series | | | 59,667 | | | | 1,730,588 | | | | 177,441 | | | | 911,119 | |
Investment in DWS Government & Agency Securities Portfolio* | | | 302,690 | | | | 213,692 | | | | 34,277 | | | | 285,484 | |
Foreign currency at value | | | 173,098 | | | | 588,622 | | | | — | | | | — | |
Deposit with broker for futures contracts | | | 15,648 | | | | 153,263 | | | | 13,662 | | | | 59,125 | |
| Receivables: | | | | | | | | | | | | | | | | |
Investment securities sold | | | — | | | | 1,285,907 | | | | — | | | | — | |
Variation margin on futures contracts | | | 2,021 | | | | 21,399 | | | | 2,295 | | | | 8,696 | |
Dividends | | | 117,979 | | | | 818,033 | | | | 101,608 | | | | 189,791 | |
Interest | | | 192 | | | | 6,881 | | | | 599 | | | | 4,155 | |
Affiliated securities lending income | | | 14 | | | | 14 | | | | 1 | | | | 192 | |
Foreign tax reclaim | | | 58,785 | | | | 228,180 | | | | — | | | | — | |
Total assets | | $ | 56,124,193 | | | $ | 604,796,956 | | | $ | 68,331,481 | | | $ | 167,823,890 | |
| | | | |
Liabilities | | | | | | | | | | | | | | | | |
Payable upon return of securities loaned | | $ | 302,690 | | | $ | 213,692 | | | $ | 34,277 | | | $ | 285,484 | |
Payables: | | | | | | | | | | | | | | | | |
Investment securities purchased | | | — | | | | 1,446,595 | | | | — | | | | — | |
Investment advisory fees | | | 10,863 | | | | 44,409 | | | | 10,869 | | | | 23,215 | |
Total liabilities | | | 313,553 | | | | 1,704,696 | | | | 45,146 | | | | 308,699 | |
Net Assets, at value | | $ | 55,810,640 | | | $ | 603,092,260 | | | $ | 68,286,335 | | | $ | 167,515,191 | |
| | | | |
Net Assets Consist of | | | | | | | | | | | | | | | | |
Paid-in capital | | $ | 71,734,386 | | | $ | 462,790,150 | | | $ | 65,038,029 | | | $ | 175,899,256 | |
Distributable earnings (loss) | | | (15,923,746 | ) | | | 140,302,110 | | | | 3,248,306 | | | | (8,384,065 | ) |
Net Assets, at value | | $ | 55,810,640 | | | $ | 603,092,260 | | | $ | 68,286,335 | | | $ | 167,515,191 | |
Number of Common Shares outstanding | | | 1,800,001 | | | | 6,070,001 | | | | 1,325,001 | | | | 3,100,001 | |
Net Asset Value | | $ | 31.01 | | | $ | 99.36 | | | $ | 51.54 | | | $ | 54.04 | |
| | | | |
Investment in non-affiliated securities at cost | | $ | 47,977,045 | | | $ | 450,998,871 | | | $ | 61,146,751 | | | $ | 136,138,145 | |
Investment in affiliated securities at cost | | $ | 9,532 | | | $ | 212,783 | | | $ | — | | | $ | — | |
Value of securities loaned | | $ | 286,098 | | | $ | 206,786 | | | $ | 33,591 | | | $ | 279,675 | |
Investment in DWS Government Money Market Series at cost | | $ | 59,667 | | | $ | 1,730,588 | | | $ | 177,441 | | | $ | 911,119 | |
Investment in DWS Government & Agency Securities Portfolio at cost* | | $ | 302,690 | | | $ | 213,692 | | | $ | 34,277 | | | $ | 285,484 | |
Foreign currency at cost | | $ | 170,004 | | | $ | 572,676 | | | $ | — | | | $ | — | |
| * | Represents collateral on securities loaned. |
See Notes to Financial Statements.
DBX ETF Trust | 51
Statements of Operations
For the Year Ended August 31, 2024
| | | | | | | | | | | | | | | | |
| | | 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* | | $ | 1,753,074 | | | $ | 9,716,209 | | | $ | 1,000,966 | | | $ | 2,366,997 | |
Affiliated dividend income | | | 1,078 | | | | 9,086 | | | | — | | | | — | |
Income distributions from affiliated funds | | | 4,471 | | | | 69,271 | | | | 3,907 | | | | 21,158 | |
Affiliated securities lending income | | | 636 | | | | 9,699 | | | | 32 | | | | 3,531 | |
Payments by affiliates (see note 6) | | | 515 | | | | 2,502 | | | | — | | | | 500 | |
Total investment income | | | 1,759,774 | | | | 9,806,767 | | | | 1,004,905 | | | | 2,392,186 | |
| | | | |
Expenses | | | | | | | | | | | | | | | | |
Investment advisory fees | | | 194,179 | | | | 493,562 | | | | 114,623 | | | | 249,279 | |
Other expenses | | | 58 | | | | 58 | | | | 58 | | | | 58 | |
Total expenses | | | 194,237 | | | | 493,620 | | | | 114,681 | | | | 249,337 | |
Less fees waived (see note 3): | | | | | | | | | | | | | | | | |
Waiver | | | (59,002 | ) | | | (1,517 | ) | | | (88 | ) | | | (459 | ) |
Net expenses | | | 135,235 | | | | 492,103 | | | | 114,593 | | | | 248,878 | |
Net investment income (loss) | | | 1,624,539 | | | | 9,314,664 | | | | 890,312 | | | | 2,143,308 | |
| | | | |
Realized and Unrealized Gain (Loss) | | | | | | | | | | | | | | | | |
Net realized gain (loss) from: | | | | | | | | | | | | | | | | |
Investments | | | (1,882,217 | ) | | | (2,854,822 | ) | | | (546,242 | ) | | | (2,509,775 | ) |
In-kind redemptions | | | 4,431,532 | | | | 9,820,050 | | | | 9,751,747 | | | | 15,929,279 | |
In-kind redemptions in affiliates | | | 8,047 | | | | 5,602 | | | | — | | | | — | |
Futures contracts | | | 48,894 | | | | 457,459 | | | | 8,770 | | | | 56,402 | |
Foreign currency transactions | | | (9,937 | ) | | | 2,879 | | | | 21 | | | | 33 | |
Net realized gain (loss) | | | 2,596,319 | | | | 7,431,168 | | | | 9,214,296 | | | | 13,475,939 | |
Net change in unrealized appreciation (depreciation) on: | | | | | | | | | | | | | | | | |
| | | | |
Investments | | | 4,640,911 | | | | 107,796,057 | | | | 4,073,904 | | | | 14,154,382 | |
Investments in affiliates | | | 1,505 | | | | 97,484 | | | | — | | | | — | |
Futures contracts | | | 15,395 | | | | 57,825 | | | | 3,245 | | | | 25,906 | |
Foreign currency translations | | | 9,622 | | | | (8,261 | ) | | | — | | | | — | |
Net change in unrealized appreciation (depreciation) | | | 4,667,433 | | | | 107,943,105 | | | | 4,077,149 | | | | 14,180,288 | |
| Net realized and unrealized gain (loss) on investments, futures and foreign currency transactions | | | 7,263,752 | | | | 115,374,273 | | | | 13,291,445 | | | | 27,656,227 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | | $ | 8,888,291 | | | $ | 124,688,937 | | | $ | 14,181,757 | | | $ | 29,799,535 | |
| | | | |
* Unaffiliated foreign tax withheld | | $ | 198,176 | | | $ | 799,753 | | | $ | 57 | | | $ | 1,123 | |
See Notes to Financial Statements.
52 | DBX ETF Trust
Statements of Changes in Net Assets
| | | | | | | | | | | | | | | | |
| | | Xtrackers FTSE Developed ex US
Multifactor ETF | | | Xtrackers MSCI Kokusai Equity ETF | |
| | | Year Ended
August 31, 2024 | | | Year Ended
August 31, 2023 | | | Year Ended
August 31, 2024 | | | Year Ended
August 31, 2023 | |
| | | | |
Increase (Decrease) in Net Assets from Operations | | | | | | | | | | | | | | | | |
Net investment income (loss) | | $ | 1,624,539 | | | $ | 2,211,616 | | | $ | 9,314,664 | | | $ | 10,516,535 | |
Net realized gain (loss) | | | 2,596,319 | | | | (5,384,510 | ) | | | 7,431,168 | | | | 7,420,412 | |
Net change in net unrealized appreciation (depreciation) | | | 4,667,433 | | | | 9,700,089 | | | | 107,943,105 | | | | 60,585,767 | |
Net increase (decrease) in net assets resulting from operations | | | 8,888,291 | | | | 6,527,195 | | | | 124,688,937 | | | | 78,522,714 | |
Distributions to Shareholders | | | (2,338,899 | ) | | | (2,130,476 | ) | | | (9,549,067 | ) | | | (10,244,127 | ) |
| | | | |
Fund Shares Transactions | | | | | | | | | | | | | | | | |
Proceeds from shares sold | | | 8,495,255 | | | | 6,891,035 | | | | — | | | | — | |
Value of shares redeemed | | | (19,549,122 | ) | | | (16,975,746 | ) | | | (31,753,923 | ) | | | (50,947,243 | ) |
Net increase (decrease) in net assets resulting from fund share transactions | | | (11,053,867 | ) | | | (10,084,711 | ) | | | (31,753,923 | ) | | | (50,947,243 | ) |
Total net increase (decrease) in Net Assets | | | (4,504,475 | ) | | | (5,687,992 | ) | | | 83,385,947 | | | | 17,331,344 | |
| | | | |
Net Assets | | | | | | | | | | | | | | | | |
Beginning of year | | | 60,315,115 | | | | 66,003,107 | | | | 519,706,313 | | | | 502,374,969 | |
End of year | | $ | 55,810,640 | | | $ | 60,315,115 | | | $ | 603,092,260 | | | $ | 519,706,313 | |
| | | | |
Changes in Shares Outstanding | | | | | | | | | | | | | | | | |
Shares outstanding, beginning of year | | | 2,200,001 | | | | 2,600,001 | | | | 6,430,001 | | | | 7,070,001 | |
Shares sold | | | 300,000 | | | | 250,000 | | | | — | | | | — | |
Shares redeemed | | | (700,000 | ) | | | (650,000 | ) | | | (360,000 | ) | | | (640,000 | ) |
Shares outstanding, end of year | | | 1,800,001 | | | | 2,200,001 | | | | 6,070,001 | | | | 6,430,001 | |
See Notes to Financial Statements.
DBX ETF Trust | 53
Statements of Changes in Net Assets (Continued)
| | | | | | | | | | | | | | | | |
| | | Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | | | Xtrackers Russell US Multifactor ETF | |
| | | Year Ended August 31, 2024 | | | Year Ended
August 31, 2023 | | | Year Ended
August 31, 2024 | | | Year Ended
August 31, 2023 | |
| | | | |
Increase (Decrease) in Net Assets from Operations | | | | | | | | | | | | | | | | |
Net investment income (loss) | | $ | 890,312 | | | $ | 259,221 | | | $ | 2,143,308 | | | $ | 2,526,303 | |
Net realized gain (loss) | | | 9,214,296 | | | | 594,889 | | | | 13,475,939 | | | | 3,947,253 | |
Net change in net unrealized appreciation (depreciation) | | | 4,077,149 | | | | 2,517,678 | | | | 14,180,288 | | | | 5,908,420 | |
Net increase (decrease) in net assets resulting from operations | | | 14,181,757 | | | | 3,371,788 | | | | 29,799,535 | | | | 12,381,976 | |
Distributions to Shareholders | | | (781,915 | ) | | | (210,231 | ) | | | (2,057,931 | ) | | | (2,664,258 | ) |
| | | | |
Fund Shares Transactions | | | | | | | | | | | | | | | | |
Proceeds from shares sold | | | 62,157,154 | | | | 18,421,557 | | | | 48,689,872 | | | | 28,235,429 | |
Value of shares redeemed | | | (36,312,345 | ) | | | (3,689,886 | ) | | | (43,881,576 | ) | | | (48,688,101 | ) |
Net increase (decrease) in net assets resulting from fund share transactions | | | 25,844,809 | | | | 14,731,671 | | | | 4,808,296 | | | | (20,452,672 | ) |
Total net increase (decrease) in Net Assets | | | 39,244,651 | | | | 17,893,228 | | | | 32,549,900 | | | | (10,734,954 | ) |
| | | | |
Net Assets | | | | | | | | | | | | | | | | |
Beginning of year | | | 29,041,684 | | | | 11,148,456 | | | | 134,965,291 | | | | 145,700,245 | |
End of year | | $ | 68,286,335 | | | $ | 29,041,684 | | | $ | 167,515,191 | | | $ | 134,965,291 | |
| | | | |
Changes in Shares Outstanding | | | | | | | | | | | | | | | | |
Shares outstanding, beginning of year | | | 675,001 | | | | 300,001 | | | | 3,000,001 | | | | 3,500,001 | |
Shares sold | | | 1,400,000 | | | | 475,000 | | | | 1,000,000 | | | | 700,000 | |
Shares redeemed | | | (750,000 | ) | | | (100,000 | ) | | | (900,000 | ) | | | (1,200,000 | ) |
Shares outstanding, end of year | | | 1,325,001 | | | | 675,001 | | | | 3,100,001 | | | | 3,000,001 | |
See Notes to Financial Statements.
54 | DBX ETF Trust
Financial Highlights
Xtrackers FTSE Developed ex US Multifactor ETF
| | | | | | | | | | | | | | | | | | | | |
| | | Years Ended August 31, | |
| | | | | |
| | | 2024 | | | 2023 | | | 2022 | | | 2021 | | | 2020 | |
| | | | | |
Selected Per Share Data | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of year | | $ | 27.42 | | | $ | 25.39 | | | $ | 32.88 | | | $ | 27.84 | | | $ | 26.80 | |
| | | | | |
Income (loss) from investment operations: | | | | | | | | | | | | | | | | | | | | |
Net investment income (loss)(a) | | | 0.81 | | | | 0.90 | | | | 1.01 | | | | 0.84 | | | | 0.62 | |
Net realized and unrealized gain (loss) | | | 3.89 | | | | 1.98 | | | | (7.37 | ) | | | 5.35 | | | | 1.32 | |
Total from investment operations | | | 4.70 | | | | 2.88 | | | | (6.36 | ) | | | 6.19 | | | | 1.94 | |
Less distributions from: | | | | | | | | | | | | | | | | | | | | |
Net investment income | | | (1.11 | ) | | | (0.85 | ) | | | (1.13 | ) | | | (1.15 | ) | | | (0.90 | ) |
Total from distributions | | | (1.11 | ) | | | (0.85 | ) | | | (1.13 | ) | | | (1.15 | ) | | | (0.90 | ) |
Net Asset Value, end of year | | $ | 31.01 | | | $ | 27.42 | | | $ | 25.39 | | | $ | 32.88 | | | $ | 27.84 | |
Total Return (%)(b) | | | 17.65 | | | | 11.59 | | | | (19.75 | ) | | | 22.69 | | | | 7.49 | |
| | | | | |
Ratios to Average Net Assets and Supplemental Data | | | | | | | | | | | | | | | | | | | | |
Net Assets, end of year ($ millions) | | | 56 | | | | 60 | | | | 66 | | | | 71 | | | | 72 | |
Ratio of expenses before fee waiver (%) | | | 0.34 | | | | 0.35 | | | | 0.35 | | | | 0.35 | | | | 0.35 | |
Ratio of expenses after fee waiver (%) | | | 0.24 | | | | 0.24 | | | | 0.24 | | | | 0.24 | | | | 0.24 | |
Ratio of net investment income (loss) (%) | | | 2.88 | | | | 3.44 | | | | 3.45 | | | | 2.75 | | | | 2.37 | |
Portfolio turnover rate (%)(c) | | | 51 | | | | 52 | | | | 56 | | | | 53 | | | | 43 | |
| (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. |
See Notes to Financial Statements.
DBX ETF Trust | 55
Financial Highlights (Continued)
Xtrackers MSCI Kokusai Equity ETF
| | | | | | | | | | | | | | | | | | | | |
| | | Years Ended August 31, | | | Period Ended 8/31/2020(a) | |
| | | 2024 | | | 2023 | | | 2022 | | | 2021 | |
| | | | | |
Selected Per Share Data | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 80.83 | | | $ | 71.06 | | | $ | 84.95 | | | $ | 65.83 | | | | $ 50.00 | |
| | | | | |
Income (loss) from investment operations: | | | | | | | | | | | | | | | | | | | | |
Net investment income (loss)(b) | | | 1.49 | | | | 1.50 | | | | 1.53 | | | | 1.28 | | | | 0.49 | |
Net realized and unrealized gain (loss) | | | 18.56 | | | | 9.72 | | | | (13.73 | ) | | | 18.91 | | | | 15.34 | |
Total from investment operations | | | 20.05 | | | | 11.22 | | | | (12.20 | ) | | | 20.19 | | | | 15.83 | |
Less distributions from: | | | | | | | | | | | | | | | | | | | | |
Net investment income | | | (1.52 | ) | | | (1.45 | ) | | | (1.69 | ) | | | (1.06 | ) | | | — | |
Net realized gains | | | — | | | | — | | | | — | | | | (0.01 | ) | | | — | |
Total from distributions | | | (1.52 | ) | | | (1.45 | ) | | | (1.69 | ) | | | (1.07 | ) | | | — | |
Net Asset Value, end of period | | $ | 99.36 | | | $ | 80.83 | | | $ | 71.06 | | | $ | 84.95 | | | | $ 65.83 | |
Total Return (%)(c) | | | 25.07 | | | | 16.02 | | | | (14.55 | ) | | | 30.87 | | | | 31.66 | ** |
| | | | | |
Ratios to Average Net Assets and Supplemental Data | | | | | | | | | | | | | | | | | | | | |
Net Assets, end of period ($ millions) | | | 603 | | | | 520 | | | | 502 | | | | 803 | | | | 132 | |
Ratio of expenses before fee waiver (%) | | | 0.09 | | | | 0.09 | | | | 0.09 | | | | 0.09 | | | | 0.09 | * |
Ratio of expenses after fee waiver (%) | | | 0.09 | | | | 0.09 | | | | 0.09 | | | | 0.09 | | | | 0.09 | * |
Ratio of net investment income (loss) (%) | | | 1.70 | | | | 2.02 | | | | 1.93 | | | | 1.73 | | | | 2.08 | * |
Portfolio turnover rate (%)(d) | | | 3 | | | | 2 | | | | 4 | | | | 6 | | | | 7 | ** |
| (a) | For the period April 8, 2020 (commencement of operations) through August 31, 2020. |
| (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. |
See Notes to Financial Statements.
56 | DBX ETF Trust
Financial Highlights (Continued)
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF
| | | | | | | | | | | | | | | | | | | | |
| | | Years Ended August 31, | |
| | | | | |
| | | 2024 | | | 2023 | | | 2022 | | | 2021 | | | 2020 | |
| | | | | |
Selected Per Share Data | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of year | | $ | 43.02 | | | $ | 37.16 | | | $ | 41.83 | | | $ | 31.43 | | | $ | 27.08 | |
| | | | | |
Income (loss) from investment operations: | | | | | | | | | | | | | | | | | | | | |
Net investment income (loss)(a) | | | 0.68 | | | | 0.61 | | | | 0.53 | | | | 0.52 | | | | 0.52 | |
Net realized and unrealized gain (loss) | | | 8.48 | | | | 5.85 | | | | (4.60 | ) | | | 10.44 | | | | 4.42 | |
Total from investment operations | | | 9.16 | | | | 6.46 | | | | (4.07 | ) | | | 10.96 | | | | 4.94 | |
Less distributions from: | | | | | | | | | | | | | | | | | | | | |
Net investment income | | | (0.64 | ) | | | (0.60 | ) | | | (0.60 | ) | | | (0.56 | ) | | | (0.59 | ) |
Total from distributions | | | (0.64 | ) | | | (0.60 | ) | | | (0.60 | ) | | | (0.56 | ) | | | (0.59 | ) |
Net Asset Value, end of year | | $ | 51.54 | | | $ | 43.02 | | | $ | 37.16 | | | $ | 41.83 | | | $ | 31.43 | |
Total Return (%)(b) | | | 21.45 | | | | 17.63 | | | | (9.84 | ) | | | 35.25 | | | | 18.72 | |
| | | | | |
Ratios to Average Net Assets and Supplemental Data | | | | | | | | | | | | | | | | | | | | |
Net Assets, end of year ($ millions) | | | 68 | | | | 29 | | | | 11 | | | | 40 | | | | 101 | |
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) (%) | | | 1.47 | | | | 1.55 | | | | 1.29 | | | | 1.51 | | | | 1.85 | |
Portfolio turnover rate (%)(c) | | | 22 | | | | 34 | | | | 14 | | | | 13 | | | | 22 | |
| (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. |
See Notes to Financial Statements.
DBX ETF Trust | 57
Financial Highlights (Continued)
Xtrackers Russell US Multifactor ETF
| | | | | | | | | | | | | | | | | | | | |
| | | Years Ended August 31, | |
| | | | | |
| | | 2024 | | | 2023 | | | 2022 | | | 2021 | | | 2020 | |
| | | | | |
Selected Per Share Data | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of year | | $ | 44.99 | | | $ | 41.63 | | | $ | 46.33 | | | $ | 34.84 | | | $ | 33.88 | |
| | | | | |
Income (loss) from investment operations: | | | | | | | | | | | | | | | | | | | | |
Net investment income (loss)(a) | | | 0.71 | | | | 0.77 | | | | 0.72 | | | | 0.56 | | | | 0.62 | |
Net realized and unrealized gain (loss) | | | 9.00 | | | | 3.38 | | | | (4.76 | ) | | | 11.47 | | | | 0.96 | |
Total from investment operations | | | 9.71 | | | | 4.15 | | | | (4.04 | ) | | | 12.03 | | | | 1.58 | |
Less distributions from: | | | | | | | | | | | | | | | | | | | | |
Net investment income | | | (0.66 | ) | | | (0.79 | ) | | | (0.66 | ) | | | (0.54 | ) | | | (0.62 | ) |
Total from distributions | | | (0.66 | ) | | | (0.79 | ) | | | (0.66 | ) | | | (0.54 | ) | | | (0.62 | ) |
Net Asset Value, end of year | | $ | 54.04 | | | $ | 44.99 | | | $ | 41.63 | | | $ | 46.33 | | | $ | 34.84 | |
Total Return (%)(b) | | | 21.78 | | | | 10.12 | | | | (8.80 | ) | | | 34.85 | | | | 4.93 | |
| | | | | |
Ratios to Average Net Assets and Supplemental Data | | | | | | | | | | | | | | | | | | | | |
Net Assets, end of year ($ millions) | | | 168 | | | | 135 | | | | 146 | | | | 206 | | | | 150 | |
Ratio of expenses before fee waiver (%) | | | 0.17 | | | | 0.17 | | | | 0.17 | | | | 0.17 | | | | 0.17 | |
Ratio of expenses after fee waiver (%) | | | 0.17 | | | | 0.17 | | | | 0.17 | | | | 0.17 | | | | 0.17 | |
Ratio of net investment income (loss) (%) | | | 1.46 | | | | 1.80 | | | | 1.60 | | | | 1.40 | | | | 1.85 | |
Portfolio turnover rate (%)(c) | | | 41 | | | | 44 | | | | 38 | | | | 39 | | | | 47 | |
| (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. |
See Notes to Financial Statements.
58 | DBX ETF Trust
Notes to Financial Statements
1. Organization
DBX ETF Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end registered management investment company organized as a Delaware statutory trust.
As of August 31, 2024, the Trust consists of thirty-nine 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 and Xtrackers Russell 1000 US Quality at a Reasonable Price ETF which lots consist of 25,000 shares, each called a “Creation Unit”, to authorized participants who have entered into agreements with the Funds’ distributor. Shares are not individually redeemable securities of the Funds, and owners of the shares may acquire those shares from the Funds, or tender such shares for redemption to the Funds, in Creation Units only.
The investment objective of each Fund is to seek investment results that correspond generally to the performance, before fees and expenses, of a particular index (the “Underlying Index”). The underlying indices for the Funds are:
| | |
| Fund | | Underlying Index |
Xtrackers FTSE Developed ex US Multifactor ETF | | FTSE Developed ex US Comprehensive Factor Index |
Xtrackers MSCI Kokusai Equity ETF | | MSCI Kokusai Index |
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | | Russell 1000 2Qual/Val 5% Capped Factor Index |
Xtrackers Russell US Multifactor ETF | | 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.
DBX ETF Trust | 59
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 direct charge to the Funds in connection with these licensing agreements.
Each Fund is diversified. Each Fund may change its diversification status over time and then change it back again, without shareholder approval, solely as a result of a change in relative market capitalization or index weighting of one or more constituents of the index each Fund tracks.
Pursuant to the Trust’s organizational documents, the Trust’s officers and trustees are indemnified against certain liabilities that may arise out of the performance of their duties to the Funds. Additionally, in the normal course of business the Trust enters into contracts that contain a variety of representations that provide indemnification for certain liabilities. The Trust’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Funds that have not yet occurred. However, the Trust expects the risk of loss to be remote.
2. Significant Accounting Policies
The financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”), which require management to make certain estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. Each Fund qualifies as an investment company under Topic 946 of the Accounting Standards Codification of U.S. GAAP. The following is a summary of significant accounting policies followed by the Funds.
Security Valuation The NAV of each Fund’s shares is calculated each business day as of the close of regular trading on the New York Stock Exchange, generally 4:00 p.m. Eastern Time. NAV per share is calculated by dividing a Fund’s net assets by the number of Fund shares outstanding.
The Funds’ Board has designated the Advisor as the valuation designee for the Funds pursuant to Rule 2a-5 under the 1940 Act. The Advisor’s Pricing Committee (the “Pricing Committee”) typically values securities using readily available market quotations or prices supplied by independent pricing services (which are considered fair values under Rule 2a-5). The Advisor has adopted fair valuation procedures that provide methodologies for fair valuing securities.
Various inputs are used in determining the value of the Funds’ investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, and credit risk). Level 3 includes significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
Equity securities and ETFs are valued at the most recent sale price or official closing price reported on the exchange (U.S. or foreign) or over-the-counter market on which they trade. Securities or ETFs for which no sales are reported are valued at the calculated mean between the most recent bid and asked quotations on the relevant market or, if a mean cannot be determined, at the most recent bid quotation. Equity securities and ETFs are generally categorized as Level 1.
Corporate and sovereign debt securities are valued at prices supplied by independent pricing services approved by the Pricing Committee. Such services may use various pricing techniques which take into account appropriate factors such as yield, quality, coupon rate, maturity, type of issue, trading characteristics and other data, as well 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.
60 | DBX ETF Trust
Securities and other assets for which market quotations are not readily available or for which the above valuation procedures are deemed not to reflect fair value are valued in a manner that is intended to reflect their fair value as determined in accordance with procedures approved by the Pricing Committee and are generally categorized as Level 3. In accordance with the Funds’ valuation procedures, factors considered in determining value may include, but are not limited to, the type of the security; the size of the holding; the initial cost of the security; the existence of any contractual restrictions on the security’s disposition; the price and extent of public trading in similar securities of the issuer or of comparable companies; quotations or evaluated prices from broker-dealers and/or pricing services; information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities); an analysis of the company’s or issuer’s financial statements; an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold; and with respect to debt securities, the maturity, coupon, creditworthiness, currency denomination and the movement of the market in which the security is normally traded. The value determined under these procedures may differ from published values for the same securities.
Fair value pricing could result in a difference between the prices used to calculate a Fund’s NAV and the prices used by the Fund’s Underlying Index, which in turn could result in a difference between the Fund’s performance and the performance of the Fund’s Underlying Index.
Disclosure about the classification of the fair value measurements is included in a table following the Fund’s Schedule of Investments.
Cash. Cash consists of cash held at banks and is on deposit with major financial institutions.
Investment Transactions and Investment Income. Investment transactions are recorded as of the date that the securities are purchased or sold (trade date). Realized gains and losses from the sale or disposition of securities are calculated on the identified cost-method. Dividend income is net of any foreign taxes withheld at source. Certain dividends from foreign securities may be recorded subsequent to the ex-dividend date as soon as the Fund is informed of such dividends. Interest income is recorded on the accrual basis. Distributions received from foreign domiciled corporations, generally determined to be passive foreign investment companies for tax reporting purposes, are included in dividend income.
Tax Information and Dividends and Distributions to Shareholders. It is each Fund’s policy to comply with all requirements of the Internal Revenue Code of 1986, as amended (“the Code”). Each Fund intends to qualify for and to elect treatment as a separate Regulated Investment Company (“RIC”) under Subchapter M of the Code. It is the policy of each Fund to pay out dividends from its net investment income, if any, to investors quarterly. Taxable net realized gains from investment transactions, reduced by capital loss carryforwards, if any, are declared and distributed to shareholders at least annually. The capital loss carryforward amount, if any, is available to offset future net capital gains. The Funds may occasionally be required to make supplemental distributions at some other time during the year. The Funds reserve the right to declare special distributions if, in their reasonable discretion, such action is necessary or advisable to preserve the status of each Fund as a RIC or to avoid imposition of income or excise taxes on undistributed income. Dividends and distributions to shareholders, if any, are recorded on the ex-dividend date. The amount of dividends and distributions from net investment income and net realized capital gains are determined in accordance with Federal income tax regulations which may differ from U.S. GAAP. These “book/tax” differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified at the end of the year within the components of net assets based on their federal tax treatment; temporary differences do not require reclassification. Dividends and distributions, which exceed earnings and profits for the full year for tax purposes, are reported as a tax return of capital.
The Funds file tax returns with the Internal Revenue Service, the State of New York, and various other states. Specific to U.S. federal and state taxes, generally, each of the tax years in the four-year period ended August 31, 2024, remains subject to examination by taxing authorities. Specific to foreign countries in which the applicable Funds invest, all open tax years remain subject to examination by taxing authorities in the respective jurisdictions. The open tax years vary by each jurisdiction in which each Fund invests.
The Funds recognize interest and penalties, if any, related to uncertain tax positions as income tax expense on the Statements of Operations. For the year ended August 31, 2024, the Funds did not incur any interest or penalties.
DBX ETF Trust | 61
As of August 31, 2024, the components of accumulated earnings (losses) on a tax basis were as follows:
| | | | | | | | | | | | | | | | |
| | | Undistributed
Ordinary Income* | | | Capital and Other
Gains (Losses) | | | Unrealized
Appreciation
(Depreciation) | | | Total Accumulated
Earnings (Losses) | |
Xtrackers FTSE Developed ex US Multifactor ETF | | $ | 875,475 | | | $ | (23,195,529) | | | $ | 6,396,308 | | | $ | (15,923,746) | |
Xtrackers MSCI Kokusai Equity ETF | | | 2,226,025 | | | | (9,753,062) | | | | 147,829,147 | | | | 140,302,110 | |
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | | | 199,081 | | | | (3,382,286) | | | | 6,431,511 | | | | 3,248,306 | |
Xtrackers Russell US Multifactor ETF | | | 487,798 | | | | (37,491,218) | | | | 28,619,355 | | | | (8,384,065) | |
| * | For tax purposes short-term capital gain distributions are considered ordinary income distributions. |
The tax character of dividends and distributions declared for the years ended August 31, 2024 and August 31, 2023 were as follows:
| | |
| | | Year Ended August
31, 2024 |
| | | Ordinary Income* |
Xtrackers FTSE Developed ex US Multifactor ETF | | $ 2,338,899 |
Xtrackers MSCI Kokusai Equity ETF | | 9,549,067 |
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | | 781,915 |
Xtrackers Russell US Multifactor ETF | | 2,057,931 |
| |
| | | Year Ended August
31, 2023 |
| | | Ordinary Income* |
Xtrackers FTSE Developed ex US Multifactor ETF | | $ 2,130,476 |
Xtrackers MSCI Kokusai Equity ETF | | 10,244,127 |
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | | 210,231 |
Xtrackers Russell US Multifactor ETF | | 2,664,258 |
| * | For tax purposes short-term capital gain distributions are considered ordinary income distributions. |
At August 31, 2024, 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 | | $ | 11,807,001 | | | $ | 11,388,528 | | | $ | 23,195,529 | |
Xtrackers MSCI Kokusai Equity ETF | | | 2,020,274 | | | | 7,731,703 | | | | 9,751,977 | |
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | | | 44,561 | | | | 3,337,725 | | | | 3,382,286 | |
Xtrackers Russell US Multifactor ETF | | | 23,764,175 | | | | 13,726,606 | | | | 37,490,781 | |
Capital losses incurred after October 31 (“post-October capital losses”) and late year ordinary losses incurred after December 31 within the taxable year are deemed to arise on the first business day of each Fund’s next taxable year. During the fiscal year ended August 31, 2024, the Funds had no post-October capital losses.
For the fiscal year ended August 31, 2024, the effect of permanent “book/tax” reclassifications to the components of net assets are included below. These differences are primarily due to redemptions-in-kind.
| | | | | | | | |
| | | Distributable
earnings (loss) | | | Paid-In Capital | |
Xtrackers FTSE Developed ex US Multifactor ETF | | $ | (4,024,742) | | | $ | 4,024,742 | |
Xtrackers MSCI Kokusai Equity ETF | | | (9,804,928) | | | | 9,804,928 | |
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | | | (9,506,197) | | | | 9,506,197 | |
Xtrackers Russell US Multifactor ETF | | | (15,775,471) | | | | 15,775,471 | |
As of August 31, 2024, 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:
62 | DBX ETF Trust
| | | | | | | | | | | | | | | | |
| | | Aggregate Tax Cost | | | Net Unrealized
Appreciation
(Depreciation) | | | Aggregate Gross
Unrealized
Appreciation | | | Aggregate Gross
Unrealized
(Depreciation) | |
Xtrackers FTSE Developed ex US Multifactor ETF | | $ | 49,366,581 | | | $ | 6,389,690 | | | $ | 8,347,129 | | | $ | (1,957,439) | |
Xtrackers MSCI Kokusai Equity ETF | | | 453,889,065 | | | | 147,813,253 | | | | 177,876,201 | | | | (30,062,948) | |
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | | | 61,781,805 | | | | 6,431,511 | | | | 7,715,677 | | | | (1,284,166) | |
Xtrackers Russell US Multifactor ETF | | | 138,942,576 | | | | 28,619,355 | | | | 30,939,451 | | | | (2,320,096) | |
Foreign Taxes. The Funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, capital gains on investments, certain foreign currency transactions or other corporate events. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which the Funds invest. These foreign taxes, if any, are paid by the Funds and are reflected in their Statements of Operations as follows: foreign taxes withheld at source are presented as a reduction of income, foreign taxes on capital gains from sales of investments and foreign currency transactions are included in their respective net realized gain (loss) categories, and deferred foreign taxes on unrealized gains are included in net change in unrealized appreciation (depreciation). Receivables and payables related to foreign taxes as of August 31, 2024, 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. Prior to September 27, 2023, the Bank of New York Mellon served as securities lending agent for the Funds. Effective September 27, 2023, Deutsche Bank AG serves as securities lending agent and lends securities of the Funds to certain financial institutions under the terms of its 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 or liquid, unencumbered assets having a value at least equal to the value of the securities loaned. When the collateral falls below specified amounts, the securities lending agent will use its best effort to obtain additional collateral on the next business day to meet required amounts under the securities lending agreement. During the year ended August 31, 2024, 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 (0.13% annualized effective rate as of August 31, 2024) on the cash collateral invested in DWS Government & Agency Securities Portfolio. The Funds receive compensation for lending their securities either in the form of fees or by earning interest on invested cash collateral, net of borrower rebates and fees paid to a securities lending agent. Either the 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 August 31, 2024, the Funds listed below had securities on loan. The value of the related collateral exceeded the value of the securities loaned at period end.
| | | | | | | | | | | | | | | | | | | | |
| Remaining Contractual Maturity of the Agreements, as of August 31, 2024 | | | | | | | | | | | | | |
| Securities Lending Transactions | | Overnight and Continuous | | | <30 Days | | | Between 30 & 90 Days | | | >90 Days | | | Total | |
Xtrackers FTSE Developed ex US Multifactor ETF | | | | | | | | | | | | | | | | | | | | |
Common Stocks | | $ | 302,690 | | | $ | — | | | $ | — | | | $ | — | | | $ | 302,690 | |
Gross amount of recognized liabilities and cash collateral for securities lending transactions | | | | | | | | | | | | | | | $ | 302,690 | |
Xtrackers MSCI Kokusai Equity ETF | | | | | | | | | | | | | | | | | | | | |
DBX ETF Trust | 63
| | | | | | | | | | | | | | | | | | | | |
Common Stocks | | $ | 213,692 | | | $ | — | | | $ | — | | | $ | — | | | $ | 213,692 | |
Gross amount of recognized liabilities and cash collateral for securities lending transactions | | | | | | | | | | | | | | | $ | 213,692 | |
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | | | | | | | | | | | | | | | | | | | | |
Common Stocks | | $ | 34,277 | | | $ | — | | | $ | — | | | $ | — | | | $ | 34,277 | |
Gross amount of recognized liabilities and cash collateral for securities lending transactions | | | | | | | | | | | | | | | $ | 34,277 | |
Xtrackers Russell US Multifactor ETF | | | | | | | | | | | | | | | | | | | | |
Common Stocks | | $ | 285,484 | | | $ | — | | | $ | — | | | $ | — | | | $ | 285,484 | |
Gross amount of recognized liabilities and cash collateral for securities lending transactions | | | | | | | | | | | | | | | $ | 285,484 | |
Derivatives
Futures Contracts. Each Fund may enter into futures contracts. These futures contracts will be used to simulate investment in the respective Underlying Index, to facilitate trading or to reduce transaction costs. Each Fund will enter into futures contracts that are traded on a U.S. or non-U.S. exchange. No Fund will use futures for speculative purposes. Futures contracts provide for the future sale by one party and purchase by another party of a specified amount of a specific instrument or index at a specified future time and at a specified price. For the year ended August 31, 2024, Xtrackers FTSE Developed ex US Multifactor ETF, Xtrackers MSCI Kokusai Equity ETF, Xtrackers Russell 1000 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 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 August 31, 2024 is included in a table following the Funds’ Schedule of Investments.
64 | DBX ETF Trust
The following tables summarize the value of the Funds’ derivative instruments held as of August 31, 2024 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* | | $ | 12,334 | | | Unrealized depreciation on futures contracts* | | $ | 185 | |
| | | Total | | $ | 12,334 | | | Total | | $ | 185 | |
| | | |
Xtrackers MSCI Kokusai Equity ETF | | | | | | | | | | |
Equity contracts | | Unrealized appreciation on futures contracts* | | $ | 83,821 | | | Unrealized depreciation on futures contracts* | | $ | — | |
| | | Total | | $ | 83,821 | | | Total | | $ | — | |
| | | |
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | | | | | | | | | | |
Equity contracts | | Unrealized appreciation on futures contracts* | | $ | 3,245 | | | Unrealized depreciation on futures contracts* | | $ | — | |
| | | Total | | $ | 3,245 | | | Total | | $ | — | |
| | | |
Xtrackers Russell US Multifactor ETF | | | | | | | | | | |
Equity contracts | | Unrealized appreciation on futures contracts* | | $ | 32,292 | | | Unrealized depreciation on futures contracts* | | $ | — | |
| | | Total | | $ | 32,292 | | | Total | | $ | — | |
| * | Futures contracts are reported in the table above using cumulative appreciation or cumulative depreciation of futures contracts, as reported in the futures contracts table following each Fund’s Schedule of Investments; within the Statement of Assets and Liabilities, the variation margin at period end is reported as Receivable (Payable) variation margin on futures contracts. |
Additionally, the amount of realized and unrealized gains and losses on derivative instruments recognized in the Funds’ earnings during the year ended August 31, 2024 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 | | $ | 48,894 | |
Xtrackers MSCI Kokusai Equity ETF | | | 457,459 | |
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | | | 8,770 | |
Xtrackers Russell US Multifactor ETF | | | 56,402 | |
| |
| Net Change in Unrealized Appreciation (Depreciation) on: | | Futures Contracts
– Equity Contracts | |
Xtrackers FTSE Developed ex US Multifactor ETF | | $ | 15,395 | |
Xtrackers MSCI Kokusai Equity ETF | | | 57,825 | |
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | | | 3,245 | |
Xtrackers Russell US Multifactor ETF | | | 25,906 | |
For the year ended August 31, 2024 the average monthly volume of derivatives was as follows:
| | | | |
| | | Futures Contracts
(Contract Value) | |
Xtrackers FTSE Developed ex US Multifactor ETF | | $ | 371,580 | |
Xtrackers MSCI Kokusai Equity ETF | | | 2,602,403 | |
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | | | 65,977 | |
Xtrackers Russell US Multifactor ETF | | | 445,165 | |
Affiliated Cash Management Vehicles. The Funds may invest uninvested cash balances in DWS Government Money Market Series, an affiliated money market fund managed by DWS Investment Management Americas, Inc. (“DIMA”), also an indirect, wholly owned subsidiary of DWS Group GmbH & Co. KGaA. DWS Government Money Market Series 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 and seeks to maintain a stable net asset value. The Funds indirectly bear their proportionate share of the expenses of their investment in DWS Government Money Market Series. 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 DWS Government Money Market Series.
DBX ETF Trust | 65
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 (through August 12, 2024 for the Xtrackers FTSE Developed ex US Multifactor ETF), 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 | % |
Effective August 13, 2024, for its investment advisory services to the Fund below, the Advisor was entitled to receive a unitary advisory fee based on the 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 | | | 0.24 | % |
The Advisor for Xtrackers FTSE Developed ex US Multifactor ETF had contractually agreed, until August 12, 2024, 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 year ended August 31, 2024, the Advisor waived $58,901 of expenses to the Fund.
The Advisor for the Funds below has contractually agreed to waive a portion of its unitary advisory fee in an amount equal to the acquired fund’s fees and expenses attributable to the Funds’ investments in affiliated Funds. For the year ended August 31, 2024, the Advisor waived expenses of the Funds as follows:
| | | | |
| | | Expenses Waived |
Xtrackers FTSE Developed ex US Multifactor ETF | | $ | 101 | |
Xtrackers MSCI Kokusai Equity ETF | | | 1,517 | |
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | | | 88 | |
Xtrackers Russell US Multifactor ETF | | | 459 | |
Out of the unitary advisory fee, the Advisor pays substantially all expenses of each Fund, including the cost of transfer agency, custody, fund administration, legal, audit and other services, and expenses of the Independent Trustees. Each Fund is responsible for the payment of interest expense, acquired fund fees and expenses, taxes, brokerage expenses, distribution fees or expenses, if any, litigation expenses and extraordinary expenses.
The Bank of New York Mellon, a wholly-owned subsidiary of The Bank of New York Mellon Corporation, serves as Administrator, Custodian, Accounting Agent and Transfer Agent for each Fund.
ALPS Distributors, Inc. (the “Distributor”) serves as the distributor of Creation Units for each Fund on an agency basis. The Distributor does not maintain a secondary market in shares of the Funds.
The Board of Trustees is currently comprised of three Independent Trustees. The Advisor paid retainer fees and attendance fees to each Independent Trustee; retainer fees to the Chairman of the Board of Trustees and Chairman of the Audit Committee; and attendance fees to each member of the Audit Committee (which is comprised of all of the Funds’ Independent Trustees).
66 | DBX ETF Trust
Affiliated Securities Lending Agent Fees. Effective September 27, 2023, Deutsche Bank AG serves as securities lending agent for the funds listed below. For the year ended August 31, 2024, the Funds incurred securities lending agent fees to Deutsche Bank AG as follows:
| | | | |
| | | Securities Lending
Agent Fees |
Xtrackers FTSE Developed ex US Multifactor ETF | | $ | 26 | |
Xtrackers MSCI Kokusai Equity ETF | | | 685 | |
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | | | 2 | |
Xtrackers Russell US Multifactor ETF | | | 272 | |
4. Investment Portfolio Transactions
For the year ended August 31, 2024, 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 | | $ | 31,851,546 | | | $ | 28,649,140 | |
Xtrackers MSCI Kokusai Equity ETF | | | 14,341,679 | | | | 13,953,389 | |
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | | | 13,276,672 | | | | 13,485,407 | |
Xtrackers Russell US Multifactor ETF | | | 60,442,859 | | | | 61,029,489 | |
For the year ended August 31, 2024, the cost of in-kind purchases and proceeds from in-kind sales were as follows:
| | | | | | | | |
| | | Purchases | | | Sales |
Xtrackers FTSE Developed ex US Multifactor ETF | | $ | 4,242,860 | | | $ | 19,130,915 | |
Xtrackers MSCI Kokusai Equity ETF | | | — | | | | 31,711,812 | |
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | | | 62,125,156 | | | | 36,179,686 | |
Xtrackers Russell US Multifactor ETF | | | 48,689,995 | | | | 43,892,587 | |
5. Fund Share Transactions
As of August 31, 2024, 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.
DBX ETF Trust | 67
6. Payments by Affiliates
During the year ended August 31, 2024, the Advisor and the securities lending agent, Deutsche Bank AG, agreed to reimburse the Funds and amounts below for securities lending income in connection to an operational delay with the lending agent transition (see Securities Lending note 2.)
The amounts reimbursed were less than 0.01% of the Funds’ average net assets, thus having no impact on the Funds’ total return.
| | | | |
| DBX Advisors LLC | | Amount |
Xtrackers FTSE Developed ex US Multifactor ETF | | $ | 343 | |
Xtrackers MSCI Kokusai Equity ETF | | | 1,668 | |
Xtrackers Russell US Multifactor ETF | | | 333 | |
| |
| Deutsche Bank AG | | Amount |
Xtrackers FTSE Developed ex US Multifactor ETF | | $ | 172 | |
Xtrackers MSCI Kokusai Equity ETF | | | 834 | |
Xtrackers Russell US Multifactor ETF | | | 167 | |
68 | DBX ETF Trust
Report of Independent Registered Public Accounting Firm
To the Shareholders of
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 and the Board of Trustees of DBX ETF Trust
Opinion on the Financial Statements
We have audited the accompanying statements of assets and liabilities of Xtrackers 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 (collectively referred to as the “Funds”), (four of the funds constituting DBX ETF Trust (the “Trust”)), including the schedules of investments, as of August 31, 2024, and the related statements of operations and changes in net assets, and the financial highlights for each of the periods indicated in the table below and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds (four of the funds constituting DBX ETF Trust) at August 31, 2024, and the results of their operations, changes in net assets and financial highlights for each of the periods indicated in the table below, in conformity with U.S. generally accepted accounting principles.
| | | | | | |
| Individual fund constituting the DBX ETF Trust | | Statement of operations | | Statements of changes in net assets | | Financial highlights |
Xtrackers FTSE Developed ex US Multifactor ETF Xtrackers Russell US Multifactor ETF Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | | For the year ended August 31, 2024 | | For each of the two years in the period ended August 31, 2024 | | For each of the five years in the period ended August 31, 2024 |
| Xtrackers MSCI Kokusai Equity ETF | | For the year ended August 31, 2024 | | For each of the two years in the period ended August 31, 2024 | | For each of the four years in the period ended August 31, 2024 and the period from April 8, 2020 (commencement of operations) through August 31, 2020 |
Basis for Opinion
These financial statements are the responsibility of the Trust’s management. Our responsibility is to express an opinion on each of the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Trust in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Trust is not required to have, nor were we engaged to perform, an audit of the Trust’s internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Trust’s internal control over financial reporting. Accordingly, we express no such opinion.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of August 31, 2024, by correspondence with the custodian, brokers and others; when replies were
DBX ETF Trust | 69
Report of Independent Registered Public Accounting Firm (Continued)
not received from brokers and others, we performed other auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.
We have served as the auditor of one or more investment companies in the DWS family of funds since at least 1979, but we are unable to determine the specific year.
New York, New York
October 24, 2024
70 | DBX ETF Trust
Board Considerations in Approval of Investment Advisory Contracts (Unaudited)
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 14-15, 2024 (the “February 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”). In addition, after discussions at the meeting of the Board of Trustees (“Board” or “Trustees”) held on May 8, 2024 (the “May Meeting”), the Trustees unanimously approved the continuance of the Investment Advisory Agreements for each Fund for a new annual period ending on May 31, 2025. The Independent Trustees were advised throughout the review and Meetings 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 February Meeting from DBX Advisors LLC (“DBX” or the “Advisor”) for purposes of reviewing the agreement’s terms, including statistical information prepared by Broadridge Financial Solutions Inc. (“Broadridge”) regarding (a) fee and expense information for each Fund (including the fee and expense components and any amounts waived or reimbursed) as compared to a peer group of other exchange-traded funds (“ETFs”) selected pursuant to Broadridge’s proprietary methodology (each, a “Peer Group”) and (b) each Fund’s tracking error as compared to its underlying index over the previous five years (or since inception, if shorter). The Independent Trustees met with representatives of the Advisor on February 14, 2024 to review financial reports and other information provided by the Advisor and inquire further with regard to the financial information provided, and asked questions of the Advisor during this meeting. The Independent Trustees also took into consideration the discussions they had with management before and during the Meeting and among themselves during their Executive Sessions held during the February Meeting and May Meeting including confirmation at the May Meeting from the Advisor that there had been no material changes to the information presented to the Board in connection with the approval of the Investment Advisory Agreement at the February Meeting.
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
DBX ETF Trust | 71
Board Considerations in Approval of Investment Advisory Contracts (Unaudited) (Continued)
such as portfolio management compliance services and the preparation and filing of certain reports on behalf of the Trust. The Board also considered, among other things, the professional experience, qualifications and performance of the senior management and key professional personnel of the Advisor, including portfolio management.
The Board considered that the Advisor provides, at its own expense, office facilities and equipment for use by the Funds and supervisory persons responsible for supervising and monitoring the Trust’s service providers. 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 Funds had advisory fees and/or total expenses (after waivers/reimbursements) that were above the average and/or median of their respective Peer Groups:
| | - | Xtrackers Russell 1000 US Quality at a Reasonable Price ETF |
| | - | Xtrackers Russell US Multifactor ETF |
The Board considered, however, the following additional factors in connection with those Funds:
| | - | The advisory fees and total expenses for each of Xtrackers Russell 1000 US Quality at a Reasonable Price ETF and Xtrackers Russell US Multifactor ETF were almost equivalent to the average of its respective 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.
72 | 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. The Board also acknowledged that the concept of economies of scale is a complex subject as to determining with a fair degree of certainty whether economies of scale exist, to what extent they exist, whether scale can result in additional expenses, and alternative ways advisors can share benefits of economies of scale.
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.
DBX ETF Trust | 73
Tax Information (Unaudited)
Form 1099-DIV and other year-end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisors.
Each Fund designates the following amounts or, if subsequently determined to be different, the maximum allowable for its period ended August 31, 2024.
| | | | |
| | | Qualified Dividend Income* | | Dividends Received Reduction* |
Xtrackers FTSE Developed ex US Multifactor ETF | | 79% | | —% |
Xtrackers MSCI Kokusai Equity ETF | | 100% | | 52% |
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | | 100% | | 100% |
Xtrackers Russell US Multifactor ETF | | 100% | | 97% |
| * | The above percentage is based on ordinary income dividends paid to shareholders during each Fund’s fiscal year. |
Each Fund intends to elect to pass through to shareholders the credit for taxes paid to foreign countries. The gross foreign source income and foreign taxes paid are as follows:
| | | | | | | | |
| | | Gross Foreign Income | | | Foreign Taxes Paid | |
Xtrackers FTSE Developed ex US Multifactor ETF | | $ | 1,951,671 | | | $ | 194,746 | |
74 | 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 BB-B ex Financials ETF (BHYB)
Xtrackers USD High Yield Corporate Bond ETF (HYLB)
Table of Contents
DBX ETF Trust | 1
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
CORPORATE BONDS — 97.5% | | | | | | | | |
Basic Materials — 5.0% | | | | | | | | |
Chemicals — 2.1% | | | | | | | | |
ASP Unifrax Holdings, Inc. | | | | | | | | |
144A,5.25%, 9/30/28 | | | 21,000 | | | | 10,889 | |
144A,7.50%, 9/30/29 | | | 10,000 | | | | 5,015 | |
Chemours Co. | | | | | | | | |
5.375%, 5/15/27 | | | 13,000 | | | | 12,643 | |
144A,5.75%, 11/15/28 | | | 19,000 | | | | 17,826 | |
144A,4.625%, 11/15/29 | | | 18,000 | | | | 15,853 | |
Consolidated Energy Finance SA | | | | | | | | |
144A,5.625%, 10/15/28 | | | 8,000 | | | | 6,497 | |
144A,12.00%, 2/15/31 | | | 17,000 | | | | 16,753 | |
INEOS Finance PLC | | | | | | | | |
144A,6.75%, 5/15/28 | | | 15,000 | | | | 15,123 | |
144A,7.50%, 4/15/29 | | | 14,000 | | | | 14,507 | |
INEOS Quattro Finance 2 PLC,144A,9.625%, 3/15/29 | | | 7,000 | | | | 7,559 | |
NOVA Chemicals Corp. | | | | | | | | |
144A,5.25%, 6/1/27 | | | 29,000 | | | | 28,657 | |
144A,8.50%, 11/15/28 | | | 10,000 | | | | 10,674 | |
144A,4.25%, 5/15/29 | | | 13,000 | | | | 11,872 | |
144A,9.00%, 2/15/30 | | | 16,000 | | | | 17,206 | |
SCIH Salt Holdings, Inc.,144A,6.625%, 5/1/29 | | | 19,000 | | | | 18,201 | |
Tronox, Inc.,144A,4.625%, 3/15/29 | | | 27,000 | | | | 24,632 | |
WR Grace Holdings LLC,144A,5.625%, 8/15/29 | | | 27,000 | | | | 25,060 | |
| | |
(Cost $278,824) | | | | | | | 258,967 | |
Forest Products & Paper — 0.1% | | | | | | | | |
Mercer International, Inc.,5.125%, 2/1/29 | | | | | | | | |
| | |
(Cost $22,799) | | | 24,000 | | | | 19,644 | |
| | |
Iron/Steel — 1.2% | | | | | | | | |
ATI, Inc.,7.25%, 8/15/30 | | | 10,000 | | | | 10,655 | |
Cleveland-Cliffs, Inc. | | | | | | | | |
144A,6.75%, 4/15/30 | | | 20,000 | | | | 20,302 | |
144A,7.00%, 3/15/32 (a) | | | 33,000 | | | | 33,182 | |
Mineral Resources Ltd. | | | | | | | | |
144A,8.125%, 5/1/27 | | | 18,000 | | | | 18,169 | |
144A,8.00%, 11/1/27 | | | 18,000 | | | | 18,303 | |
144A,9.25%, 10/1/28 | | | 30,000 | | | | 31,731 | |
144A,8.50%, 5/1/30 | | | 16,000 | | | | 16,652 | |
| | |
(Cost $146,131) | | | | | | | 148,994 | |
| | |
Mining — 1.6% | | | | | | | | |
Arsenal AIC Parent LLC | | | | | | | | |
144A,8.00%, 10/1/30 | | | 8,000 | | | | 8,611 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,11.50%, 10/1/31 | | | 21,000 | | | | 23,777 | |
First Quantum Minerals Ltd. | | | | | | | | |
144A,6.875%, 10/15/27 | | | 39,000 | | | | 38,715 | |
144A,9.375%, 3/1/29 | | | 38,000 | | | | 40,480 | |
144A,8.625%, 6/1/31 | | | 31,000 | | | | 31,026 | |
Hudbay Minerals, Inc.,144A,6.125%, 4/1/29 | | | 15,000 | | | | 15,154 | |
Kaiser Aluminum Corp. | | | | | | | | |
144A,4.625%, 3/1/28 | | | 15,000 | | | | 14,261 | |
144A,4.50%, 6/1/31 | | | 14,000 | | | | 12,595 | |
Vedanta Resources Finance II PLC,144A,9.25%, 4/23/26 | | | 15,000 | | | | 14,892 | |
| | |
(Cost $196,276) | | | | | | | 199,511 | |
| | |
Communications — 26.3% | | | | | | | | |
Advertising — 1.4% | | | | | | | | |
Clear Channel Outdoor Holdings, Inc. | | | | | | | | |
144A,5.125%, 8/15/27 | | | 32,000 | | | | 31,287 | |
144A,7.75%, 4/15/28 | | | 25,000 | | | | 21,814 | |
144A,9.00%, 9/15/28 (a) | | | 25,000 | | | | 26,597 | |
144A,7.50%, 6/1/29 | | | 27,000 | | | | 22,787 | |
144A,7.875%, 4/1/30 | | | 17,000 | | | | 17,776 | |
Outfront Media Capital LLC / Outfront Media Capital Corp. | | | | | | | | |
144A,4.25%, 1/15/29 | | | 17,000 | | | | 16,061 | |
144A,4.625%, 3/15/30 | | | 13,000 | | | | 12,199 | |
Stagwell Global LLC,144A,5.625%, 8/15/29 | | | 28,000 | | | | 26,568 | |
| | |
(Cost $176,439) | | | | | | | 175,089 | |
| | |
Internet — 1.0% | | | | | | | | |
Cogent Communications Group LLC,144A,7.00%, 6/15/27 | | | 10,000 | | | | 10,131 | |
Newfold Digital Holdings Group, Inc.,144A,11.75%, 10/15/28 | | | 11,000 | | | | 10,937 | |
Rakuten Group, Inc. | | | | | | | | |
144A,11.25%, 2/15/27 | | | 45,000 | | | | 48,921 | |
144A,9.75%, 4/15/29 | | | 50,000 | | | | 53,931 | |
| | |
(Cost $118,304) | | | | | | | 123,920 | |
| | |
Media — 14.8% | | | | | | | | |
AMC Networks, Inc. | | | | | | | | |
144A,10.25%, 1/15/29 | | | 18,000 | | | | 18,106 | |
4.25%, 2/15/29 (a) | | | 26,000 | | | | 18,465 | |
Cable One, Inc.,144A,4.00%, 11/15/30 | | | 15,000 | | | | 11,526 | |
CCO Holdings LLC / CCO Holdings Capital Corp. | | | | | | | | |
144A,5.125%, 5/1/27 | | | 55,000 | | | | 53,948 | |
144A,5.00%, 2/1/28 | | | 66,000 | | | | 63,649 | |
144A,5.375%, 6/1/29 | | | 30,000 | | | | 28,485 | |
144A,6.375%, 9/1/29 | | | 20,000 | | | | 19,771 | |
144A,4.75%, 3/1/30 | | | 50,000 | | | | 45,622 | |
See Notes to Financial Statements.
2 | DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,4.50%, 8/15/30 | | | 55,000 | | | | 49,101 | |
144A,4.25%, 2/1/31 | | | 52,000 | | | | 45,164 | |
144A,7.375%, 3/1/31 (a) | | | 20,000 | | | | 20,370 | |
144A,4.75%, 2/1/32 | | | 17,000 | | | | 14,828 | |
4.50%, 5/1/32 | | | 48,000 | | | | 41,031 | |
144A,4.50%, 6/1/33 | | | 28,000 | | | | 23,433 | |
144A,4.25%, 1/15/34 | | | 35,000 | | | | 28,255 | |
CSC Holdings LLC | | | | | | | | |
144A,5.50%, 4/15/27 | | | 33,000 | | | | 27,051 | |
144A,5.375%, 2/1/28 | | | 22,000 | | | | 16,939 | |
144A,7.50%, 4/1/28 | | | 25,000 | | | | 12,935 | |
144A,11.25%, 5/15/28 | | | 18,000 | | | | 16,014 | |
144A,11.75%, 1/31/29 | | | 49,000 | | | | 43,298 | |
144A,6.50%, 2/1/29 | | | 43,000 | | | | 32,499 | |
144A,5.75%, 1/15/30 | | | 58,000 | | | | 23,216 | |
144A,4.125%, 12/1/30 | | | 31,000 | | | | 20,475 | |
144A,4.625%, 12/1/30 | | | 59,000 | | | | 23,127 | |
144A,3.375%, 2/15/31 | | | 27,000 | | | | 17,463 | |
144A,4.50%, 11/15/31 | | | 36,000 | | | | 23,978 | |
144A,5.00%, 11/15/31 | | | 14,000 | | | | 5,284 | |
Directv Financing LLC,144A,8.875%, 2/1/30 | | | 20,000 | | | | 20,311 | |
Directv Financing LLC / Directv Financing Co.-Obligor, Inc.,144A,5.875%, 8/15/27 | | | 85,000 | | | | 82,388 | |
DISH DBS Corp. | | | | | | | | |
7.75%, 7/1/26 | | | 46,000 | | | | 30,994 | |
144A,5.25%, 12/1/26 | | | 66,000 | | | | 56,661 | |
7.375%, 7/1/28 | | | 23,000 | | | | 11,860 | |
144A,5.75%, 12/1/28 | | | 64,000 | | | | 49,362 | |
5.125%, 6/1/29 | | | 36,000 | | | | 16,429 | |
DISH Network Corp.,144A,11.75%, 11/15/27 | | | 89,000 | | | | 90,570 | |
Gray Escrow II, Inc.,144A,5.375%, 11/15/31 | | | 31,000 | | | | 17,783 | |
Gray Television, Inc. | | | | | | | | |
144A,7.00%, 5/15/27 (a) | | | 20,000 | | | | 19,309 | |
144A,10.50%, 7/15/29 | | | 30,000 | | | | 30,819 | |
144A,4.75%, 10/15/30 | | | 20,000 | | | | 11,408 | |
iHeartCommunications, Inc. | | | | | | | | |
6.375%, 5/1/26 (a) | | | 22,000 | | | | 18,499 | |
8.375%, 5/1/27 | | | 23,000 | | | | 10,495 | |
144A,5.25%, 8/15/27 | | | 19,000 | | | | 11,904 | |
144A,4.75%, 1/15/28 (a) | | | 11,000 | | | | 6,322 | |
LCPR Senior Secured Financing DAC | | | | | | | | |
144A,6.75%, 10/15/27 | | | 30,000 | | | | 27,459 | |
144A,5.125%, 7/15/29 (a) | | | 20,000 | | | | 16,173 | |
McGraw-Hill Education, Inc. | | | | | | | | |
144A,5.75%, 8/1/28 | | | 23,000 | | | | 22,566 | |
144A,8.00%, 8/1/29 | | | 16,000 | | | | 15,949 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,7.375%, 9/1/31 | | | 10,000 | | | | 10,335 | |
Nexstar Media, Inc. | | | | | | | | |
144A,5.625%, 7/15/27 | | | 43,000 | | | | 42,057 | |
144A,4.75%, 11/1/28 (a) | | | 22,000 | | | | 20,579 | |
Radiate Holdco LLC / Radiate Finance, Inc. | | | | | | | | |
144A,4.50%, 9/15/26 | | | 18,000 | | | | 14,281 | |
144A,6.50%, 9/15/28 | | | 26,000 | | | | 14,013 | |
Sinclair Television Group, Inc. | | | | | | | | |
144A,5.50%, 3/1/30 (a) | | | 10,000 | | | | 5,984 | |
144A,4.125%, 12/1/30 (a) | | | 19,000 | | | | 13,425 | |
Sirius XM Radio, Inc. | | | | | | | | |
144A,5.50%, 7/1/29 | | | 33,000 | | | | 32,147 | |
144A,4.125%, 7/1/30 | | | 40,000 | | | | 35,942 | |
144A,3.875%, 9/1/31 | | | 36,000 | | | | 30,926 | |
Sunrise FinCo I BV,144A,4.875%, 7/15/31 | | | 30,000 | | | | 27,947 | |
TEGNA, Inc. | | | | | | | | |
4.625%, 3/15/28 | | | 26,000 | | | | 24,535 | |
5.00%, 9/15/29 | | | 30,000 | | | | 27,887 | |
Univision Communications, Inc. | | | | | | | | |
144A,6.625%, 6/1/27 | | | 34,000 | | | | 33,684 | |
144A,8.00%, 8/15/28 | | | 40,000 | | | | 40,502 | |
144A,4.50%, 5/1/29 | | | 30,000 | | | | 26,361 | |
144A,7.375%, 6/30/30 | | | 21,000 | | | | 20,171 | |
144A,8.50%, 7/31/31 | | | 10,000 | | | | 9,987 | |
Virgin Media Finance PLC,144A,5.00%, 7/15/30 | | | 23,000 | | | | 19,958 | |
Virgin Media Secured Finance PLC | | | | | | | | |
144A,5.50%, 5/15/29 | | | 36,000 | | | | 34,152 | |
144A,4.50%, 8/15/30 | | | 23,000 | | | | 20,331 | |
VTR Finance NV,144A,6.375%, 7/15/28 | | | 13,000 | | | | 11,968 | |
Ziggo Bond Co. BV,144A,5.125%, 2/28/30 (a) | | | 13,000 | | | | 11,748 | |
Ziggo BV,144A,4.875%, 1/15/30 | | | 27,000 | | | | 25,207 | |
| | |
(Cost $2,077,520) | | | | | | | 1,865,421 | |
| | |
Telecommunications — 9.1% | | | | | | | | |
Altice Financing SA | | | | | | | | |
144A,5.00%, 1/15/28 | | | 32,000 | | | | 25,742 | |
144A,5.75%, 8/15/29 | | | 50,000 | | | | 38,573 | |
Altice France Holding SA | | | | | | | | |
144A,10.50%, 5/15/27 | | | 40,000 | | | | 15,869 | |
144A,6.00%, 2/15/28 | | | 27,000 | | | | 8,863 | |
Altice France SA | | | | | | | | |
144A,8.125%, 2/1/27 | | | 44,000 | | | | 35,438 | |
144A,5.50%, 1/15/28 | | | 29,000 | | | | 20,673 | |
144A,5.125%, 1/15/29 | | | 13,000 | | | | 9,042 | |
144A,5.125%, 7/15/29 | | | 63,000 | | | | 44,032 | |
144A,5.50%, 10/15/29 | | | 45,000 | | | | 31,276 | |
See Notes to Financial Statements.
DBX ETF Trust | 3
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
C&W Senior Finance Ltd.,144A,6.875%, 9/15/27 | | | 33,000 | | | | 32,523 | |
CommScope LLC | | | | | | | | |
144A,6.00%, 3/1/26 | | | 38,000 | | | | 36,623 | |
144A,8.25%, 3/1/27 | | | 22,000 | | | | 18,407 | |
144A,7.125%, 7/1/28 | | | 17,000 | | | | 12,542 | |
144A,4.75%, 9/1/29 | | | 27,000 | | | | 21,803 | |
CommScope Technologies LLC,144A,5.00%, 3/15/27 | | | 19,000 | | | | 14,566 | |
Connect Finco SARL / Connect US Finco LLC,144A,6.75%, 10/1/26 | | | 40,000 | | | | 39,714 | |
Consolidated Communications, Inc. | | | | | | | | |
144A,5.00%, 10/1/28 | | | 11,000 | | | | 9,654 | |
144A,6.50%, 10/1/28 | | | 15,000 | | | | 13,766 | |
CT Trust,144A,5.125%, 2/3/32 | | | 18,000 | | | | 16,191 | |
Frontier Communications Holdings LLC | | | | | | | | |
144A,6.75%, 5/1/29 (a) | | | 25,000 | | | | 24,137 | |
5.875%, 11/1/29 (a) | | | 20,000 | | | | 18,421 | |
144A,6.00%, 1/15/30 (a) | | | 25,000 | | | | 23,085 | |
144A,8.75%, 5/15/30 | | | 30,000 | | | | 31,631 | |
144A,8.625%, 3/15/31 | | | 15,000 | | | | 15,887 | |
Hughes Satellite Systems Corp. | | | | | | | | |
5.25%, 8/1/26 (a) | | | 23,000 | | | | 19,252 | |
6.625%, 8/1/26 (a) | | | 19,000 | | | | 10,265 | |
Iliad Holding SASU | | | | | | | | |
144A,7.00%, 10/15/28 | | | 23,000 | | | | 23,363 | |
144A,8.50%, 4/15/31 | | | 21,000 | | | | 22,276 | |
Intelsat Jackson Holdings | | | | | | | | |
SA,144A,6.50%, 3/15/30 | | | 70,000 | | | | 67,389 | |
Level 3 Financing, Inc. | | | | | | | | |
144A,4.25%, 7/1/28 | | | 22,000 | | | | 15,567 | |
144A,10.50%, 4/15/29 | | | 18,000 | | | | 19,385 | |
144A,4.875%, 6/15/29 | | | 15,000 | | | | 11,738 | |
144A,11.00%, 11/15/29 | | | 40,000 | | | | 43,902 | |
144A,4.50%, 4/1/30 | | | 15,000 | | | | 11,070 | |
144A,10.50%, 5/15/30 | | | 26,000 | | | | 27,988 | |
144A,3.875%, 10/15/30 | | | 2,000 | | | | 1,371 | |
144A,10.75%, 12/15/30 | | | 17,000 | | | | 18,394 | |
144A,4.00%, 4/15/31 | | | 15,000 | | | | 10,125 | |
Lumen Technologies, Inc. | | | | | | | | |
144A,4.50%, 1/15/29 | | | 12,000 | | | | 6,819 | |
144A,4.125%, 4/15/30 (a) | | | 15,000 | | | | 11,268 | |
Millicom International Cellular SA | | | | | | | | |
144A,6.25%, 3/25/29 | | | 9,000 | | | | 8,911 | |
144A,4.50%, 4/27/31 (a) | | | 22,000 | | | | 19,625 | |
144A,7.375%, 4/2/32 | | | 12,000 | | | | 12,165 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Optics Bidco SpA | | | | | | | | |
144A,Series 2036, 7.20%, 7/18/36 | | | 12,000 | | | | 12,664 | |
144A,Series 2038, 7.721%, 6/4/38 | | | 14,000 | | | | 15,195 | |
Sable International Finance Ltd.,144A,5.75%, 9/7/27 | | | 12,000 | | | | 11,883 | |
VEON Holdings BV,144A,3.375%, 11/25/27 | | | 30,000 | | | | 25,200 | |
Viasat, Inc. | | | | | | | | |
144A,5.625%, 9/15/25 | | | 18,000 | | | | 17,839 | |
144A,5.625%, 4/15/27 | | | 16,000 | | | | 15,200 | |
144A,6.50%, 7/15/28 (a) | | | 10,000 | | | | 8,354 | |
144A,7.50%, 5/30/31 (a) | | | 17,000 | | | | 13,024 | |
Windstream Escrow LLC / Windstream Escrow Finance Corp.,144A,7.75%, 8/15/28 | | | 37,000 | | | | 36,156 | |
Zayo Group Holdings, Inc. | | | | | | | | |
144A,4.00%, 3/1/27 (a) | | | 34,000 | | | | 29,715 | |
144A,6.125%, 3/1/28 | | | 28,000 | | | | 21,675 | |
Zegona Finance PLC,144A,8.625%, 7/15/29 | | | 20,000 | | | | 20,814 | |
| | |
(Cost $1,265,274) | | | | | | | 1,147,050 | |
| | |
Consumer, Cyclical — 15.0% | | | | | | | | |
Airlines — 1.1% | | | | | | | | |
American Airlines, Inc. | | | | | | | | |
144A,7.25%, 2/15/28 (a) | | | 25,000 | | | | 25,179 | |
144A,8.50%, 5/15/29 | | | 20,000 | | | | 20,806 | |
Hawaiian Brand Intellectual Property Ltd. / HawaiianMiles Loyalty Ltd.,144A,11.00%, 4/15/29 | | | 24,000 | | | | 24,449 | |
Spirit Loyalty Cayman Ltd. / Spirit IP Cayman Ltd. | | | | | | | | |
144A,8.00%, 9/20/25 (a) | | | 14,000 | | | | 8,753 | |
144A,8.00%, 9/20/25 (a) | | | 13,000 | | | | 8,127 | |
United Airlines, Inc.,144A,4.625%, 4/15/29 | | | 49,000 | | | | 46,676 | |
| | |
(Cost $141,579) | | | | | | | 133,990 | |
| | |
Apparel — 0.3% | | | | | | | | |
Hanesbrands, Inc. | | | | | | | | |
144A,4.875%, 5/15/26 | | | 21,000 | | | | 20,875 | |
144A,9.00%, 2/15/31 (a) | | | 15,000 | | | | 16,141 | |
| | |
(Cost $35,308) | | | | | | | 37,016 | |
| | |
Auto Manufacturers — 0.2% | | | | | | | | |
Aston Martin Capital Holdings Ltd.,144A,10.00%, 3/31/29 | | | | | | | | |
| | |
(Cost $25,241) | | | 25,000 | | | | 25,529 | |
See Notes to Financial Statements.
4 | DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Auto Parts & Equipment — 1.6% | | | | | | | | |
American Axle & Manufacturing, Inc. | | | | | | | | |
6.50%, 4/1/27 | | | 10,000 | | | | 10,059 | |
6.875%, 7/1/28 | | | 5,000 | | | | 5,029 | |
5.00%, 10/1/29 | | | 15,000 | | | | 13,969 | |
Dana, Inc. | | | | | | | | |
5.375%, 11/15/27 | | | 10,000 | | | | 9,933 | |
5.625%, 6/15/28 | | | 10,000 | | | | 9,865 | |
4.25%, 9/1/30 | | | 11,000 | | | | 9,919 | |
Goodyear Tire & Rubber Co. | | | | | | | | |
5.00%, 7/15/29 (a) | | | 17,000 | | | | 15,804 | |
5.25%, 4/30/31 | | | 14,000 | | | | 12,696 | |
5.25%, 7/15/31 (a) | | | 16,000 | | | | 14,527 | |
5.625%, 4/30/33 (a) | | | 11,000 | | | | 9,697 | |
Tenneco, Inc.,144A,8.00%, 11/17/28 | | | 49,000 | | | | 45,858 | |
ZF North America Capital, Inc. | | | | | | | | |
144A,6.75%, 4/23/30 | | | 20,000 | | | | 20,575 | |
144A,6.875%, 4/23/32 | | | 19,000 | | | | 19,755 | |
| | |
(Cost $197,278) | | | | | | | 197,686 | |
| | |
Entertainment — 2.1% | | | | | | | | |
Allwyn Entertainment Financing UK PLC,144A,7.875%, 4/30/29 | | | 17,000 | | | | 17,713 | |
AMC Entertainment Holdings, Inc.,144A,7.50%, 2/15/29 (a) | | | 22,000 | | | | 16,046 | |
Banijay Entertainment SAS,144A,8.125%, 5/1/29 | | | 10,000 | | | | 10,409 | |
Caesars Entertainment, Inc.,144A,4.625%, 10/15/29 (a) | | | 30,000 | | | | 28,396 | |
Cinemark USA, Inc. | | | | | | | | |
144A,5.25%, 7/15/28 (a) | | | 20,000 | | | | 19,664 | |
144A,7.00%, 8/1/32 | | | 12,000 | | | | 12,464 | |
Light & Wonder International, Inc. | | | | | | | | |
144A,7.25%, 11/15/29 | | | 11,000 | | | | 11,405 | |
144A,7.50%, 9/1/31 | | | 14,000 | | | | 14,751 | |
Merlin Entertainments Group US Holdings, Inc.,144A,7.375%, 2/15/31 | | | 9,000 | | | | 8,972 | |
Mohegan Tribal Gaming Authority,144A,8.00%, 2/1/26 | | | 29,000 | | | | 28,141 | |
Motion Bondco DAC,144A,6.625%, 11/15/27 | | | 10,000 | | | | 9,469 | |
Penn Entertainment, Inc. | | | | | | | | |
144A,5.625%, 1/15/27 | | | 10,000 | | | | 9,842 | |
144A,4.125%, 7/1/29 (a) | | | 10,000 | | | | 8,963 | |
Premier Entertainment Sub LLC / Premier Entertainment Finance Corp. | | | | | | | | |
144A,5.625%, 9/1/29 (a) | | | 19,000 | | | | 14,180 | |
144A,5.875%, 9/1/31 | | | 19,000 | | | | 13,197 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Wynn Resorts Finance LLC / Wynn Resorts Capital Corp. | | | | | | | | |
144A,5.125%, 10/1/29 | | | 20,000 | | | | 19,581 | |
144A,7.125%, 2/15/31 | | | 24,000 | | | | 25,487 | |
| | |
(Cost $281,759) | | | | | | | 268,680 | |
| | |
Food Service — 0.2% | | | | | | | | |
TKC Holdings, Inc. | | | | | | | | |
144A,6.875%, 5/15/28 | | | 11,000 | | | | 10,960 | |
144A,10.50%, 5/15/29 | | | 16,000 | | | | 15,976 | |
| | |
(Cost $26,044) | | | | | | | 26,936 | |
| | |
Home Builders — 0.3% | | | | | | | | |
Ashton Woods USA LLC / Ashton Woods Finance Co.,144A,4.625%, 4/1/30 | | | 10,000 | | | | 9,420 | |
Brookfield Residential Properties, Inc. / Brookfield Residential US LLC | | | | | | | | |
144A,6.25%, 9/15/27 | | | 12,000 | | | | 11,979 | |
144A,4.875%, 2/15/30 | | | 15,000 | | | | 13,996 | |
| | |
(Cost $35,778) | | | | | | | 35,395 | |
| | |
Home Furnishings — 0.1% | | | | | | | | |
Tempur Sealy International, Inc.,144A,3.875%, 10/15/31 | | | | | | | | |
| | |
(Cost $21,039) | | | 21,000 | | | | 18,489 | |
| | |
Housewares — 0.8% | | | | | | | | |
Newell Brands, Inc. | | | | | | | | |
5.70%, 4/1/26 | | | 49,000 | | | | 48,878 | |
6.375%, 9/15/27 (a) | | | 15,000 | | | | 15,118 | |
6.625%, 9/15/29 | | | 12,000 | | | | 12,004 | |
Scotts Miracle-Gro Co. | | | | | | | | |
4.50%, 10/15/29 (a) | | | 10,000 | | | | 9,482 | |
4.00%, 4/1/31 | | | 11,000 | | | | 9,866 | |
4.375%, 2/1/32 | | | 10,000 | | | | 8,996 | |
| | |
(Cost $100,844) | | | | | | | 104,344 | |
| | |
Leisure Time — 2.4% | | | | | | | | |
Carnival Corp. | | | | | | | | |
144A,5.75%, 3/1/27 | | | 69,000 | | | | 69,272 | |
144A,6.00%, 5/1/29 (a) | | | 53,000 | | | | 53,273 | |
144A,10.50%, 6/1/30 | | | 24,000 | | | | 26,067 | |
NCL Corp. Ltd. | | | | | | | | |
144A,5.875%, 3/15/26 | | | 40,000 | | | | 40,003 | |
144A,8.125%, 1/15/29 | | | 18,000 | | | | 19,266 | |
144A,7.75%, 2/15/29 (a) | | | 17,000 | | | | 18,153 | |
Sabre GLBL, Inc. | | | | | | | | |
144A,8.625%, 6/1/27 | | | 25,000 | | | | 24,050 | |
144A,11.25%, 12/15/27 (a) | | | 14,000 | | | | 14,189 | |
Viking Cruises Ltd. | | | | | | | | |
144A,7.00%, 2/15/29 | | | 13,000 | | | | 13,178 | |
See Notes to Financial Statements.
DBX ETF Trust | 5
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,9.125%, 7/15/31 | | | 17,000 | | | | 18,663 | |
| | |
(Cost $278,939) | | | | | | | 296,114 | |
| | |
Lodging — 1.9% | | | | | | | | |
Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand Vacations Borrower Esc | | | | | | | | |
144A,5.00%, 6/1/29 | | | 20,000 | | | | 18,924 | |
144A,6.625%, 1/15/32 | | | 18,000 | | | | 18,230 | |
Marriott Ownership Resorts, Inc.,144A,4.50%, 6/15/29 | | | 13,000 | | | | 12,103 | |
Melco Resorts Finance Ltd. | | | | | | | | |
144A,5.25%, 4/26/26 | | | 10,000 | | | | 9,785 | |
144A,5.625%, 7/17/27 | | | 16,000 | | | | 15,426 | |
144A,5.75%, 7/21/28 | | | 23,000 | | | | 21,950 | |
144A,5.375%, 12/4/29 | | | 29,000 | | | | 26,563 | |
144A,7.625%, 4/17/32 | | | 10,000 | | | | 10,029 | |
MGM Resorts International,6.50%, 4/15/32 | | | 19,000 | | | | 19,150 | |
Station Casinos LLC | | | | | | | | |
144A,4.625%, 12/1/31 | | | 13,000 | | | | 12,076 | |
144A,6.625%, 3/15/32 | | | 10,000 | | | | 10,207 | |
Studio City Finance Ltd. | | | | | | | | |
144A,6.50%, 1/15/28 | | | 15,000 | | | | 14,448 | |
144A,5.00%, 1/15/29 | | | 32,000 | | | | 28,612 | |
Travel + Leisure Co.,144A,4.50%, 12/1/29 | | | 17,000 | | | | 15,863 | |
| | |
(Cost $234,444) | | | | | | | 233,366 | |
| | |
Retail — 4.0% | | | | | | | | |
Asbury Automotive Group, Inc.,144A,5.00%, 2/15/32 | | | 16,000 | | | | 15,082 | |
Bath & Body Works, Inc. | | | | | | | | |
7.50%, 6/15/29 (a) | | | 9,000 | | | | 9,338 | |
144A,6.625%, 10/1/30 | | | 25,000 | | | | 25,333 | |
eG Global Finance PLC,144A,12.00%, 11/30/28 | | | 30,000 | | | | 32,758 | |
Ferrellgas LP / Ferrellgas Finance Corp.,144A,5.875%, 4/1/29 | | | 19,000 | | | | 17,829 | |
Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc. | | | | | | | | |
144A,4.625%, 1/15/29 | | | 25,000 | | | | 23,405 | |
144A,6.75%, 1/15/30 | | | 28,000 | | | | 25,214 | |
FirstCash, Inc.,144A,6.875%, 3/1/32 | | | 14,000 | | | | 14,400 | |
Gap, Inc. | | | | | | | | |
144A,3.625%, 10/1/29 | | | 19,000 | | | | 17,044 | |
144A,3.875%, 10/1/31 | | | 19,000 | | | | 16,431 | |
Kohl’s Corp.,4.625%, 5/1/31 | | | 13,000 | | | | 10,756 | |
Macy’s Retail Holdings LLC | | | | | | | | |
144A,5.875%, 4/1/29 | | | 15,000 | | | | 14,720 | |
144A,5.875%, 3/15/30 | | | 13,000 | | | | 12,618 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,6.125%, 3/15/32 | | | 11,000 | | | | 10,532 | |
Michaels Cos., Inc. | | | | | | | | |
144A,5.25%, 5/1/28 | | | 23,000 | | | | 18,083 | |
144A,7.875%, 5/1/29 | | | 28,000 | | | | 16,672 | |
NMG Holding Co, Inc. / Neiman Marcus Group LLC,144A,7.125%, 4/1/26 | | | 27,000 | | | | 27,357 | |
PetSmart, Inc. / PetSmart Finance Corp. | | | | | | | | |
144A,4.75%, 2/15/28 | | | 25,000 | | | | 23,941 | |
144A,7.75%, 2/15/29 | | | 31,000 | | | | 30,578 | |
QVC, Inc. | | | | | | | | |
4.75%, 2/15/27 | | | 15,000 | | | | 13,155 | |
4.375%, 9/1/28 | | | 13,000 | | | | 9,797 | |
Sonic Automotive, Inc. | | | | | | | | |
144A,4.625%, 11/15/29 | | | 17,000 | | | | 15,906 | |
144A,4.875%, 11/15/31 | | | 13,000 | | | | 11,914 | |
Staples, Inc.,144A,10.75%, 9/1/29 | | | 58,000 | | | | 54,703 | |
Suburban Propane Partners LP/ Suburban Energy Finance Corp.,144A,5.00%, 6/1/31 | | | 17,000 | | | | 15,613 | |
Walgreens Boots Alliance, Inc. | | | | | | | | |
8.125%, 8/15/29 | | | 5,000 | | | | 5,013 | |
3.20%, 4/15/30 | | | 20,000 | | | | 16,117 | |
| | |
(Cost $521,281) | | | | | | | 504,309 | |
| | |
Consumer, Non-cyclical — 12.5% | | | | | | | | |
Agriculture — 0.2% | | | | | | | | |
Vector Group Ltd.,144A,5.75%, 2/1/29 | | | | | | | | |
| | |
(Cost $21,554) | | | 22,000 | | | | 22,322 | |
| | |
Beverages — 0.1% | | | | | | | | |
Primo Water Holdings, Inc.,
144A,4.375%, 4/30/29 | | | | | | | | |
| | |
(Cost $18,991) | | | 19,000 | | | | 18,057 | |
| | |
Commercial Services — 3.3% | | | | | | | | |
Albion Financing 2 SARL,144A,8.75%, 4/15/27 | | | 15,000 | | | | 15,349 | |
Allied Universal Holdco LLC,144A,7.875%, 2/15/31 | | | 42,000 | | | | 42,678 | |
Allied Universal Holdco LLC / Allied Universal Finance Corp. | | | | | | | | |
144A,9.75%, 7/15/27 | | | 28,000 | | | | 28,118 | |
144A,6.00%, 6/1/29 (a) | | | 25,000 | | | | 22,273 | |
Allied Universal Holdco LLC / Allied Universal Finance Corp. / Atlas Luxco 4 SARL,144A,4.625%, 6/1/28 | | | 36,000 | | | | 33,427 | |
Avis Budget Car Rental LLC / Avis Budget Finance, Inc. | | | | | | | | |
144A,5.75%, 7/15/27 | | | 10,000 | | | | 9,803 | |
See Notes to Financial Statements.
6 | DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,4.75%, 4/1/28 | | | 15,000 | | | | 13,925 | |
144A,5.375%, 3/1/29 (a) | | | 10,000 | | | | 9,172 | |
144A,8.00%, 2/15/31 (a) | | | 15,000 | | | | 14,928 | |
Brink’s Co.,144A,6.75%, 6/15/32 | | | 10,000 | | | | 10,410 | |
Garda World Security Corp. | | | | | | | | |
144A,4.625%, 2/15/27 | | | 14,000 | | | | 13,664 | |
144A,9.50%, 11/1/27 | | | 15,000 | | | | 15,149 | |
144A,6.00%, 6/1/29 | | | 12,000 | | | | 11,364 | |
144A,8.25%, 8/1/32 | | | 14,000 | | | | 14,240 | |
Hertz Corp. | | | | | | | | |
144A,4.625%, 12/1/26 (a) | | | 13,000 | | | | 10,217 | |
144A,12.625%, 7/15/29 (a) | | | 20,000 | | | | 21,321 | |
144A,5.00%, 12/1/29 | | | 24,000 | | | | 16,220 | |
Prime Security Services Borrower LLC / Prime Finance, Inc.,144A,6.25%, 1/15/28 | | | 35,000 | | | | 34,898 | |
RR Donnelley & Sons Co. | | | | | | | | |
144A,9.50%, 8/1/29 | | | 25,000 | | | | 24,789 | |
144A,10.875%, 8/1/29 | | | 12,000 | | | | 11,755 | |
Sotheby’s,144A,7.375%, 10/15/27 | | | 20,000 | | | | 19,199 | |
Wand NewCo 3, Inc.,144A,7.625%, 1/30/32 | | | 28,000 | | | | 29,358 | |
| | |
(Cost $431,388) | | | | | | | 422,257 | |
| | |
Cosmetics/Personal Care — 0.1% | | | | | | | | |
Edgewell Personal Care Co.,144A,4.125%, 4/1/29 | | | | | | | | |
| | |
(Cost $12,960) | | | 13,000 | | | | 12,333 | |
| | |
Food — 1.2% | | | | | | | | |
B&G Foods, Inc. | | | | | | | | |
5.25%, 9/15/27 (a) | | | 14,000 | | | | 13,258 | |
144A,8.00%, 9/15/28 | | | 20,000 | | | | 20,818 | |
Post Holdings, Inc. | | | | | | | | |
144A,5.50%, 12/15/29 | | | 32,000 | | | | 31,521 | |
144A,4.625%, 4/15/30 | | | 32,000 | | | | 30,434 | |
144A,4.50%, 9/15/31 | | | 28,000 | | | | 26,072 | |
144A,6.375%, 3/1/33 | | | 25,000 | | | | 25,245 | |
| | |
(Cost $150,862) | | | | | | | 147,348 | |
| | |
Healthcare-Products — 0.3% | | | | | | | | |
Bausch + Lomb Corp.,144A,8.375%, 10/1/28 | | | | | | | | |
| | |
(Cost $35,209) | | | 35,000 | | | | 36,801 | |
| | |
Healthcare-Services — 4.1% | | | | | | | | |
CHS/Community Health Systems, Inc. | | | | | | | | |
144A,5.625%, 3/15/27 | | | 50,000 | | | | 48,434 | |
144A,8.00%, 12/15/27 | | | 24,000 | | | | 24,065 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,6.875%, 4/1/28 | | | 19,000 | | | | 15,012 | |
144A,6.00%, 1/15/29 | | | 13,000 | | | | 12,362 | |
144A,6.875%, 4/15/29 | | | 35,000 | | | | 30,155 | |
144A,6.125%, 4/1/30 | | | 34,000 | | | | 26,954 | |
144A,5.25%, 5/15/30 | | | 41,000 | | | | 36,792 | |
144A,4.75%, 2/15/31 | | | 28,000 | | | | 23,912 | |
144A,10.875%, 1/15/32 | | | 32,000 | | | | 34,681 | |
DaVita, Inc. | | | | | | | | |
144A,4.625%, 6/1/30 | | | 69,000 | | | | 65,105 | |
144A,6.875%, 9/1/32 | | | 20,000 | | | | 20,474 | |
LifePoint Health, Inc. | | | | | | | | |
144A,5.375%, 1/15/29 | | | 13,000 | | | | 12,148 | |
144A,9.875%, 8/15/30 | | | 18,000 | | | | 19,763 | |
144A,11.00%, 10/15/30 | | | 30,000 | | | | 33,847 | |
144A,10.00%, 6/1/32 | | | 18,000 | | | | 19,558 | |
MPH Acquisition Holdings LLC | | | | | | | | |
144A,5.50%, 9/1/28 | | | 28,000 | | | | 20,668 | |
144A,5.75%, 11/1/28 (a) | | | 23,000 | | | | 10,230 | |
Radiology Partners, Inc.,144A,4.275% Cash 3.50% PIK, PIK, 1/31/29 | | | 18,197 | | | | 17,515 | |
Star Parent, Inc.,144A,9.00%, 10/1/30 | | | 26,000 | | | | 27,788 | |
US Acute Care Solutions
LLC,144A,9.75%, 5/15/29 | | | 20,000 | | | | 20,485 | |
| | |
(Cost $547,398) | | | | | | | 519,948 | |
| | |
Household Products/Wares — 0.1% | | | | | | | | |
Central Garden & Pet Co.,144A,4.125%, 4/30/31 | | | | | | | | |
| | |
(Cost $9,975) | | | 10,000 | | | | 9,071 | |
| | |
Pharmaceuticals — 3.1% | | | | | | | | |
AdaptHealth LLC | | | | | | | | |
144A,4.625%, 8/1/29 | | | 13,000 | | | | 11,876 | |
144A,5.125%, 3/1/30 (a) | | | 16,000 | | | | 14,641 | |
Bausch Health Americas, Inc. | | | | | | | | |
144A,9.25%, 4/1/26 | | | 17,000 | | | | 15,410 | |
144A,8.50%, 1/31/27 | | | 15,000 | | | | 11,176 | |
Bausch Health Cos., Inc. | | | | | | | | |
144A,5.50%, 11/1/25 | | | 43,000 | | | | 41,441 | |
144A,9.00%, 12/15/25 | | | 11,000 | | | | 10,197 | |
144A,6.125%, 2/1/27 | | | 26,000 | | | | 22,227 | |
144A,5.75%, 8/15/27 | | | 13,000 | | | | 10,544 | |
144A,5.00%, 1/30/28 | | | 12,000 | | | | 6,811 | |
144A,4.875%, 6/1/28 | | | 40,000 | | | | 29,927 | |
144A,11.00%, 9/30/28 | | | 42,000 | | | | 38,535 | |
144A,5.00%, 2/15/29 | | | 12,000 | | | | 6,254 | |
144A,6.25%, 2/15/29 (a) | | | 19,000 | | | | 10,094 | |
144A,5.25%, 1/30/30 | | | 19,000 | | | | 9,524 | |
See Notes to Financial Statements.
DBX ETF Trust | 7
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,5.25%, 2/15/31 | | | 11,000 | | | | 5,555 | |
Cheplapharm Arzneimittel GmbH,144A,5.50%, 1/15/28 | | | 13,000 | | | | 12,498 | |
Grifols SA,144A,4.75%, 10/15/28 | | | 19,000 | | | | 18,065 | |
HLF Financing Sarl LLC / Herbalife International, Inc,144A,12.25%, 4/15/29 | | | 20,000 | | | | 20,017 | |
HLF Financing Sarl LLC / Herbalife International, Inc.,144A,4.875%, 6/1/29 | | | 16,000 | | | | 10,120 | |
Organon & Co. / Organon Foreign Debt Co.-Issuer BV | | | | | | | | |
144A,5.125%, 4/30/31 | | | 47,000 | | | | 44,058 | |
144A,7.875%, 5/15/34 | | | 12,000 | | | | 12,659 | |
Owens & Minor, Inc. | | | | | | | | |
144A,4.50%, 3/31/29 (a) | | | 11,000 | | | | 10,021 | |
144A,6.625%, 4/1/30 (a) | | | 16,000 | | | | 15,498 | |
| | |
(Cost $429,788) | | | | | | | 387,148 | |
| | |
Diversified — 0.1% | | | | | | | | |
Holding Companies-Diversified — 0.1% | | | | | | | | |
Benteler International AG,144A,10.50%, 5/15/28 | | | | | | | | |
| | |
(Cost $15,217) | | | 15,000 | | | | 15,989 | |
| | |
Energy — 14.3% | | | | | | | | |
Energy-Alternate Sources — 0.3% | | | | | | | | |
Sunnova Energy Corp.,144A,11.75%, 10/1/28 | | | 10,000 | | | | 9,294 | |
TerraForm Power Operating LLC | | | | | | | | |
144A,5.00%, 1/31/28 | | | 15,000 | | | | 14,729 | |
144A,4.75%, 1/15/30 | | | 15,000 | | | | 14,177 | |
| | |
(Cost $36,834) | | | | | | | 38,200 | |
| | |
Oil & Gas — 6.2% | | | | | | | | |
Baytex Energy Corp. | | | | | | | | |
144A,8.50%, 4/30/30 | | | 20,000 | | | | 21,331 | |
144A,7.375%, 3/15/32 | | | 15,000 | | | | 15,547 | |
California Resources Corp.,144A,8.25%, 6/15/29 | | | 15,000 | | | | 15,484 | |
Civitas Resources, Inc. | | | | | | | | |
144A,8.375%, 7/1/28 | | | 35,000 | | | | 36,943 | |
144A,8.625%, 11/1/30 | | | 25,000 | | | | 27,194 | |
144A,8.75%, 7/1/31 | | | 32,000 | | | | 34,574 | |
CNX Resources | | | | | | | | |
Corp.,144A,7.25%, 3/1/32 | | | 10,000 | | | | 10,478 | |
Comstock Resources, Inc. | | | | | | | | |
144A,6.75%, 3/1/29 | | | 32,000 | | | | 31,502 | |
144A,6.75%, 3/1/29 | | | 8,000 | | | | 7,863 | |
144A,5.875%, 1/15/30 | | | 23,000 | | | | 21,760 | |
Crescent Energy Finance LLC | | | | | | | | |
144A,9.25%, 2/15/28 | | | 22,000 | | | | 23,342 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,7.625%, 4/1/32 | | | 18,000 | | | | 18,576 | |
144A,7.375%, 1/15/33 | | | 18,000 | | | | 18,477 | |
CVR Energy, Inc. | | | | | | | | |
144A,5.75%, 2/15/28 | | | 11,000 | | | | 10,428 | |
144A,8.50%, 1/15/29 | | | 14,000 | | | | 14,276 | |
Encino Acquisition Partners Holdings LLC | | | | | | | | |
144A,8.50%, 5/1/28 | | | 17,000 | | | | 17,580 | |
144A,8.75%, 5/1/31 | | | 13,000 | | | | 13,820 | |
Energean PLC,144A,6.50%, 4/30/27 | | | 16,000 | | | | 15,817 | |
Kosmos Energy Ltd. | | | | | | | | |
144A,7.125%, 4/4/26 | | | 22,000 | | | | 21,930 | |
144A,7.75%, 5/1/27 | | | 14,000 | | | | 13,855 | |
144A,7.50%, 3/1/28 | | | 10,000 | | | | 9,752 | |
Leviathan Bond Ltd. | | | | | | | | |
144A,REGS, 6.50%, 6/30/27 | | | 13,000 | | | | 12,482 | |
144A,REGS, 6.75%, 6/30/30 | | | 14,000 | | | | 12,967 | |
Medco Maple Tree Pte Ltd.,144A,8.96%, 4/27/29 | | | 10,000 | | | | 10,569 | |
Nabors Industries, Inc. | | | | | | | | |
144A,7.375%, 5/15/27 | | | 15,000 | | | | 15,186 | |
144A,9.125%, 1/31/30 | | | 15,000 | | | | 16,086 | |
144A,8.875%, 8/15/31 (a) | | | 14,000 | | | | 14,039 | |
Noble Finance II LLC,144A,8.00%, 4/15/30 | | | 30,000 | | | | 31,131 | |
Northern Oil & Gas, Inc. | | | | | | | | |
144A,8.125%, 3/1/28 | | | 19,000 | | | | 19,442 | |
144A,8.75%, 6/15/31 | | | 15,000 | | | | 16,041 | |
Parkland Corp. | | | | | | | | |
144A,4.625%, 5/1/30 | | | 21,000 | | | | 19,657 | |
144A,6.625%, 8/15/32 | | | 5,000 | | | | 5,056 | |
PBF Holding Co. LLC / PBF Finance Corp.,144A,7.875%, 9/15/30 | | | 15,000 | | | | 15,610 | |
Puma International Financing SA,144A,7.75%, 4/25/29 | | | 11,000 | | | | 11,276 | |
SM Energy Co.,144A,7.00%, 8/1/32 | | | 20,000 | | | | 20,503 | |
Sunoco LP,144A,7.25%, 5/1/32 | | | 18,000 | | | | 19,050 | |
Talos Production, Inc. | | | | | | | | |
144A,9.00%, 2/1/29 | | | 15,000 | | | | 15,948 | |
144A,9.375%, 2/1/31 | | | 16,000 | | | | 17,100 | |
Transocean, Inc. | | | | | | | | |
144A,8.00%, 2/1/27 | | | 15,000 | | | | 15,008 | |
144A,8.25%, 5/15/29 | | | 22,000 | | | | 22,309 | |
144A,8.50%, 5/15/31 | | | 25,000 | | | | 25,388 | |
Valaris Ltd.,144A,8.375%, 4/30/30 | | | 25,000 | | | | 26,103 | |
Vital Energy, Inc.,144A,7.875%, 4/15/32 | | | 25,000 | | | | 25,614 | |
| | |
(Cost $772,854) | | | | | | | 787,094 | |
See Notes to Financial Statements.
8 | DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Oil & Gas Services — 1.1% | | | | | | | | |
Archrock Partners LP / Archrock Partners Finance Corp. | | | | | | | | |
144A,6.25%, 4/1/28 | | | 21,000 | | | | 21,106 | |
144A,6.625%, 9/1/32 | | | 15,000 | | | | 15,197 | |
USA Compression Partners LP / USA Compression Finance Corp. | | | | | | | | |
6.875%, 9/1/27 | | | 19,000 | | | | 19,186 | |
144A,7.125%, 3/15/29 | | | 25,000 | | | | 25,700 | |
Viridien,144A,8.75%, 4/1/27 (a) | | | 12,000 | | | | 11,524 | |
Weatherford International Ltd.,144A,8.625%, 4/30/30 | | | 41,000 | | | | 42,587 | |
| | |
(Cost $133,749) | | | | | | | 135,300 | |
Pipelines — 6.7% | | | | | | | | |
Antero Midstream Partners LP / Antero Midstream Finance Corp. | | | | | | | | |
144A,5.75%, 1/15/28 | | | 17,000 | | | | 17,018 | |
144A,6.625%, 2/1/32 | | | 15,000 | | | | 15,468 | |
Blue Racer Midstream LLC / Blue Racer Finance Corp. | | | | | | | | |
144A,7.00%, 7/15/29 | | | 11,000 | | | | 11,449 | |
144A,7.25%, 7/15/32 | | | 15,000 | | | | 15,743 | |
Buckeye Partners LP | | | | | | | | |
144A,4.50%, 3/1/28 | | | 13,000 | | | | 12,472 | |
144A,6.875%, 7/1/29 | | | 15,000 | | | | 15,354 | |
CQP Holdco LP / BIP-V Chinook Holdco LLC,144A,7.50%, 12/15/33 | | | 13,000 | | | | 14,054 | |
Delek Logistics Partners LP / Delek Logistics Finance Corp.,144A,8.625%, 3/15/29 | | | 22,000 | | | | 23,150 | |
EQM Midstream Partners LP,144A,7.50%, 6/1/27 | | | 13,000 | | | | 13,408 | |
Genesis Energy LP / Genesis Energy Finance Corp. | | | | | | | | |
8.00%, 1/15/27 | | | 20,000 | | | | 20,493 | |
7.75%, 2/1/28 | | | 20,000 | | | | 20,370 | |
8.25%, 1/15/29 | | | 18,000 | | | | 18,718 | |
8.875%, 4/15/30 | | | 10,000 | | | | 10,622 | |
7.875%, 5/15/32 | | | 17,000 | | | | 17,456 | |
Global Partners LP / GLP Finance Corp. | | | | | | | | |
7.00%, 8/1/27 | | | 10,000 | | | | 10,102 | |
144A,8.25%, 1/15/32 | | | 10,000 | | | | 10,404 | |
Harvest Midstream I LP | | | | | | | | |
144A,7.50%, 9/1/28 | | | 20,000 | | | | 20,527 | |
144A,7.50%, 5/15/32 | | | 13,000 | | | | 13,675 | |
Howard Midstream Energy Partners LLC | | | | | | | | |
144A,8.875%, 7/15/28 | | | 15,000 | | | | 16,003 | |
144A,7.375%, 7/15/32 | | | 15,000 | | | | 15,540 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
ITT Holdings LLC,144A,6.50%, 8/1/29 | | | 32,000 | | | | 30,200 | |
New Fortress Energy, Inc. | | | | | | | | |
144A,6.75%, 9/15/25 | | | 22,000 | | | | 21,467 | |
144A,6.50%, 9/30/26 | | | 38,000 | | | | 32,925 | |
144A,8.75%, 3/15/29 (a) | | | 19,000 | | | | 15,939 | |
NGL Energy Operating LLC / NGL Energy Finance Corp. | | | | | | | | |
144A,8.125%, 2/15/29 | | | 15,000 | | | | 15,353 | |
144A,8.375%, 2/15/32 | | | 33,000 | | | | 33,992 | |
Northriver Midstream Finance LP,144A,6.75%, 7/15/32 | | | 13,000 | | | | 13,431 | |
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp. | | | | | | | | |
144A,6.00%, 3/1/27 | | | 11,000 | | | | 10,978 | |
144A,5.50%, 1/15/28 | | | 15,000 | | | | 14,484 | |
144A,7.375%, 2/15/29 | | | 20,000 | | | | 20,459 | |
144A,6.00%, 12/31/30 | | | 19,000 | | | | 18,131 | |
144A,6.00%, 9/1/31 | | | 14,000 | | | | 13,277 | |
Venture Global LNG, Inc. | | | | | | | | |
144A,8.125%, 6/1/28 | | | 47,000 | | | | 49,256 | |
144A,9.50%, 2/1/29 | | | 78,000 | | | | 87,950 | |
144A,7.00%, 1/15/30 | | | 38,000 | | | | 38,879 | |
144A,8.375%, 6/1/31 | | | 55,000 | | | | 58,433 | |
144A,9.875%, 2/1/32 | | | 46,000 | | | | 51,135 | |
| | |
(Cost $824,073) | | | | | | | 838,315 | |
| | |
Financial — 12.2% | | | | | | | | |
Banks — 0.5% | | | | | | | | |
Freedom Mortgage Corp. | | | | | | | | |
144A,7.625%, 5/1/26 | | | 15,000 | | | | 15,076 | |
144A,6.625%, 1/15/27 | | | 14,000 | | | | 13,843 | |
144A,12.00%, 10/1/28 | | | 18,000 | | | | 19,613 | |
144A,12.25%, 10/1/30 | | | 13,000 | | | | 14,437 | |
| | |
(Cost $58,338) | | | | | | | 62,969 | |
Diversified Financial Services — 4.5% | | | | | | | | |
AG Issuer LLC,144A,6.25%, 3/1/28 | | | 10,000 | | | | 9,775 | |
AG TTMT Escrow Issuer LLC,144A,8.625%, 9/30/27 | | | 15,000 | | | | 15,561 | |
Bread Financial Holdings, Inc.,144A,9.75%, 3/15/29 | | | 25,000 | | | | 26,994 | |
Burford Capital Global Finance LLC,144A,9.25%, 7/1/31 | | | 18,000 | | | | 19,268 | |
Coinbase Global, Inc. | | | | | | | | |
144A,3.375%, 10/1/28 | | | 26,000 | | | | 22,843 | |
144A,3.625%, 10/1/31 | | | 15,000 | | | | 12,373 | |
Credit Acceptance Corp.,144A,9.25%, 12/15/28 | | | 15,000 | | | | 16,143 | |
Encore Capital Group, Inc. | | | | | | | | |
144A,9.25%, 4/1/29 | | | 12,000 | | | | 12,789 | |
See Notes to Financial Statements.
DBX ETF Trust | 9
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,8.50%, 5/15/30 | | | 13,000 | | | | 13,614 | |
Enova International, Inc. | | | | | | | | |
144A,11.25%, 12/15/28 | | | 10,000 | | | | 10,766 | |
144A,9.125%, 8/1/29 | | | 10,000 | | | | 10,161 | |
goeasy Ltd. | | | | | | | | |
144A,9.25%, 12/1/28 | | | 10,000 | | | | 10,763 | |
144A,7.625%, 7/1/29 | | | 17,000 | | | | 17,546 | |
Jefferies Finance LLC / JFIN Co.-Issuer Corp.,144A,5.00%, 8/15/28 | | | 26,000 | | | | 24,730 | |
LD Holdings Group LLC,144A,6.125%, 4/1/28 | | | 16,000 | | | | 13,533 | |
Nationstar Mortgage Holdings, Inc. | | | | | | | | |
144A,5.125%, 12/15/30 | | | 19,000 | | | | 18,053 | |
144A,5.75%, 11/15/31 | | | 16,000 | | | | 15,557 | |
144A,7.125%, 2/1/32 | | | 20,000 | | | | 20,736 | |
Navient Corp. | | | | | | | | |
4.875%, 3/15/28 | | | 13,000 | | | | 12,385 | |
5.50%, 3/15/29 | | | 22,000 | | | | 20,912 | |
9.375%, 7/25/30 | | | 11,000 | | | | 11,949 | |
11.50%, 3/15/31 | | | 11,000 | | | | 12,358 | |
OneMain Finance Corp. | | | | | | | | |
3.875%, 9/15/28 | | | 15,000 | | | | 13,828 | |
9.00%, 1/15/29 | | | 22,000 | | | | 23,404 | |
5.375%, 11/15/29 | | | 22,000 | | | | 21,176 | |
7.875%, 3/15/30 | | | 18,000 | | | | 18,841 | |
4.00%, 9/15/30 | | | 22,000 | | | | 19,489 | |
7.50%, 5/15/31 | | | 15,000 | | | | 15,494 | |
7.125%, 11/15/31 | | | 15,000 | | | | 15,160 | |
Osaic Holdings, Inc.,144A,10.75%, 8/1/27 | | | 10,000 | | | | 10,301 | |
PennyMac Financial Services, Inc. | | | | | | | | |
144A,7.125%, 11/15/30 | | | 16,000 | | | | 16,268 | |
144A,5.75%, 9/15/31 | | | 13,000 | | | | 12,547 | |
PRA Group, Inc.,144A,8.875%, 1/31/30 | | | 10,000 | | | | 10,348 | |
Synchrony Financial,7.25%, 2/2/33 | | | 20,000 | | | | 20,638 | |
United Wholesale Mortgage LLC,144A,5.50%, 4/15/29 | | | 19,000 | | | | 18,545 | |
| | |
(Cost $560,893) | | | | | | | 564,848 | |
| | |
Insurance — 1.5% | | | | | | | | |
Acrisure LLC / Acrisure Finance, Inc. | | | | | | | | |
144A,8.50%, 6/15/29 | | | 12,000 | | | | 12,470 | |
144A,6.00%, 8/1/29 | | | 13,000 | | | | 12,427 | |
144A,7.50%, 11/6/30 | | | 27,000 | | | | 27,735 | |
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer | | | | | | | | |
144A,6.75%, 10/15/27 | | | 33,000 | | | | 32,883 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,5.875%, 11/1/29 | | | 12,000 | | | | 11,714 | |
AssuredPartners, Inc. | | | | | | | | |
144A,5.625%, 1/15/29 | | | 14,000 | | | | 13,427 | |
144A,7.50%, 2/15/32 | | | 12,000 | | | | 12,250 | |
FWD Group Holdings Ltd.,144A,8.40%, 4/5/29 | | | 21,000 | | | | 21,746 | |
Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC,144A,7.25%, 2/15/31 | | | 27,000 | | | | 27,808 | |
USI, Inc.,144A,7.50%, 1/15/32 | | | 15,000 | | | | 15,731 | |
| | |
(Cost $183,359) | | | | | | | 188,191 | |
| | |
Investment Companies — 0.3% | | | | | | | | |
Icahn Enterprises LP / Icahn Enterprises Finance Corp. | | | | | | | | |
144A,9.75%, 1/15/29 | | | 20,000 | | | | 21,029 | |
144A,9.00%, 6/15/30 | | | 15,000 | | | | 15,189 | |
| | |
(Cost $35,351) | | | | | | | 36,218 | |
| | |
Real Estate — 0.7% | | | | | | | | |
Anywhere Real Estate Group LLC / Anywhere Co.-Issuer Corp.,144A,7.00%, 4/15/30 (a) | | | 18,200 | | | | 16,150 | |
Anywhere Real Estate Group LLC / Realogy Co-Issuer Corp | | | | | | | | |
144A,5.75%, 1/15/29 (a) | | | 16,000 | | | | 11,500 | |
144A,5.25%, 4/15/30 | | | 9,000 | | | | 6,282 | |
Cushman & Wakefield US Borrower LLC | | | | | | | | |
144A,6.75%, 5/15/28 | | | 10,000 | | | | 10,152 | |
144A,8.875%, 9/1/31 | | | 10,000 | | | | 10,838 | |
Kennedy-Wilson, Inc. | | | | | | | | |
4.75%, 3/1/29 | | | 17,000 | | | | 15,364 | |
4.75%, 2/1/30 | | | 12,000 | | | | 10,600 | |
5.00%, 3/1/31 | | | 14,000 | | | | 12,191 | |
| | |
(Cost $100,679) | | | | | | | 93,077 | |
| | |
Real Estate Investment Trusts — 3.9% | | | | | | | | |
Apollo Commercial Real Estate Finance, Inc.,144A,4.625%, 6/15/29 | | | 13,000 | | | | 11,538 | |
Brandywine Operating Partnership LP | | | | | | | | |
3.95%, 11/15/27 | | | 15,000 | | | | 14,123 | |
8.875%, 4/12/29 | | | 8,000 | | | | 8,701 | |
Brookfield Property REIT, Inc. / BPR Cumulus LLC / BPR Nimbus LLC / GGSI Sellco LL | | | | | | | | |
144A,5.75%, 5/15/26 | | | 13,000 | | | | 12,980 | |
144A,4.50%, 4/1/27 | | | 19,000 | | | | 18,336 | |
Diversified Healthcare Trust | | | | | | | | |
4.75%, 2/15/28 (a) | | | 13,000 | | | | 11,437 | |
4.375%, 3/1/31 | | | 13,000 | | | | 9,965 | |
See Notes to Financial Statements.
10 | DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Global Net Lease, Inc. / Global Net Lease Operating Partnership LP,144A,3.75%, 12/15/27 | | | 15,000 | | | | 13,687 | |
Hudson Pacific Properties LP | | | | | | | | |
3.95%, 11/1/27 | | | 8,000 | | | | 7,116 | |
4.65%, 4/1/29 (a) | | | 15,000 | | | | 12,417 | |
3.25%, 1/15/30 | | | 10,000 | | | | 7,399 | |
MPT Operating Partnership LP / MPT Finance Corp. | | | | | | | | |
5.25%, 8/1/26 (a) | | | 10,000 | | | | 9,416 | |
5.00%, 10/15/27 (a) | | | 33,000 | | | | 28,038 | |
4.625%, 8/1/29 (a) | | | 22,000 | | | | 16,936 | |
3.50%, 3/15/31 | | | 34,000 | | | | 23,258 | |
Necessity Retail REIT Inc/The / American Finance Operating Partner LP,144A,4.50%, 9/30/28 | | | 11,000 | | | | 10,115 | |
RHP Hotel Properties LP / RHP Finance Corp.,144A,6.50%, 4/1/32 | | | 25,000 | | | | 25,766 | |
Rithm Capital Corp.,144A,8.00%, 4/1/29 | | | 18,000 | | | | 17,931 | |
Service Properties Trust | | | | | | | | |
4.75%, 10/1/26 | | | 15,000 | | | | 14,357 | |
4.95%, 2/15/27 | | | 7,000 | | | | 6,497 | |
5.50%, 12/15/27 | | | 11,000 | | | | 10,359 | |
3.95%, 1/15/28 (a) | | | 7,000 | | | | 5,956 | |
8.375%, 6/15/29 | | | 17,000 | | | | 16,852 | |
4.95%, 10/1/29 | | | 11,000 | | | | 8,527 | |
4.375%, 2/15/30 | | | 10,000 | | | | 7,398 | |
144A,8.625%, 11/15/31 | | | 25,000 | | | | 26,765 | |
8.875%, 6/15/32 | | | 12,000 | | | | 11,313 | |
Starwood Property Trust, Inc.,144A,7.25%, 4/1/29 | | | 15,000 | | | | 15,633 | |
Uniti Group LP / Uniti Fiber Holdings, Inc. / CSL Capital LLC,144A,6.00%, 1/15/30 | | | 18,000 | | | | 13,207 | |
Uniti Group LP / Uniti Group Finance, Inc. / CSL Capital LLC | | | | | | | | |
144A,10.50%, 2/15/28 | | | 63,000 | | | | 64,711 | |
144A,4.75%, 4/15/28 | | | 15,000 | | | | 13,209 | |
144A,6.50%, 2/15/29 | | | 26,000 | | | | 19,938 | |
| | |
(Cost $503,480) | | | | | | | 493,881 | |
| | |
REITS — 0.1% | | | | | | | | |
Office Properties Income Trust,144A,9.00%, 9/30/29 | | | | | | | | |
| | |
(Cost $10,356) | | | 13,000 | | | | 10,592 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Venture Capital — 0.7% | | | | | | | | |
Icahn Enterprises LP / Icahn Enterprises Finance Corp. | | | | | | | | |
6.25%, 5/15/26 | | | 30,000 | | | | 29,857 | |
5.25%, 5/15/27 | | | 40,000 | | | | 38,692 | |
4.375%, 2/1/29 | | | 18,000 | | | | 15,810 | |
| | |
(Cost $77,962) | | | | | | | 84,359 | |
| | |
Industrial — 5.7% | | | | | | | | |
Building Materials — 0.7% | | | | | | | | |
Camelot Return Merger Sub, Inc.,144A,8.75%, 8/1/28 | | | 18,000 | | | | 17,877 | |
Cornerstone Building Brands, Inc.,144A,9.50%, 8/15/29 | | | 10,000 | | | | 9,909 | |
Smyrna Ready Mix Concrete LLC | | | | | | | | |
144A,6.00%, 11/1/28 | | | 28,000 | | | | 27,972 | |
144A,8.875%, 11/15/31 | | | 30,000 | | | | 32,235 | |
| | |
(Cost $85,663) | | | | | | | 87,993 | |
| |
Electrical Components & Equipment — 0.2% | | | | | |
Energizer Holdings, Inc. | | | | | | | | |
144A,4.75%, 6/15/28 | | | 15,000 | | | | 14,472 | |
144A,4.375%, 3/31/29 | | | 16,000 | | | | 15,059 | |
| | |
(Cost $29,750) | | | | | | | 29,531 | |
| | |
Electronics — 0.4% | | | | | | | | |
EquipmentShare.com, Inc. | | | | | | | | |
144A,9.00%, 5/15/28 | | | 30,000 | | | | 31,228 | |
144A,8.625%, 5/15/32 | | | 13,000 | | | | 13,611 | |
| | |
(Cost $41,770) | | | | | | | 44,839 | |
| | |
Engineering & Construction — 0.7% | | | | | | | | |
Aeropuertos Dominicanos Siglo XXI SA,144A,7.00%, 6/30/34 | | | 13,000 | | | | 13,495 | |
Brand Industrial Services, Inc.,144A,10.375%, 8/1/30 | | | 34,000 | | | | 37,088 | |
HTA Group Ltd./ Mauritius,144A,7.50%, 6/4/29 | | | 20,000 | | | | 20,194 | |
IHS Holding Ltd. | | | | | | | | |
144A,5.625%, 11/29/26 | | | 7,000 | | | | 6,803 | |
144A,6.25%, 11/29/28 | | | 16,000 | | | | 14,705 | |
| | |
(Cost $88,478) | | | | | | | 92,285 | |
| | |
Environmental Control — 0.4% | | | | | | | | |
Madison IAQ LLC,144A,5.875%, 6/30/29 | | | 24,000 | | | | 22,892 | |
Reworld Holding Corp.,5.00%, 9/1/30 | | | 11,000 | | | | 10,086 | |
Wrangler Holdco Corp.,
144A,6.625%, 4/1/32 | | | 12,000 | | | | 12,398 | |
| | |
(Cost $44,588) | | | | | | | 45,376 | |
See Notes to Financial Statements.
DBX ETF Trust | 11
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Machinery-Diversified — 0.8% | | | | | | | | |
Husky Injection Molding Systems Ltd. / Titan Co.- Borrower LLC,144A,9.00%, 2/15/29 | | | 27,000 | | | | 27,711 | |
Maxim Crane Works Holdings Capital LLC,144A,11.50%, 9/1/28 | | | 10,000 | | | | 10,429 | |
SPX FLOW, Inc.,144A,8.75%, 4/1/30 | | | 14,000 | | | | 14,630 | |
TK Elevator Holdco GmbH,144A,7.625%, 7/15/28 | | | 10,000 | | | | 10,024 | |
TK Elevator US Newco, Inc.,144A,5.25%, 7/15/27 | | | 39,000 | | | | 38,423 | |
| | |
(Cost $99,174) | | | | | | | 101,217 | |
| | |
Miscellaneous Manufacturing — 0.1% | | | | | | | | |
Trinity Industries, Inc.,144A,7.75%, 7/15/28 | | | | | | | | |
| | |
(Cost $10,151) | | | 10,000 | | | | 10,485 | |
| | |
Packaging & Containers — 2.0% | | | | | | | | |
Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC | | | | | | | | |
144A,6.00%, 6/15/27 | | | 15,000 | | | | 15,009 | |
144A,3.25%, 9/1/28 | | | 15,000 | | | | 13,625 | |
144A,4.00%, 9/1/29 | | | 23,000 | | | | 19,880 | |
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc. | | | | | | | | |
144A,4.125%, 8/15/26 (a) | | | 30,000 | | | | 25,912 | |
144A,5.25%, 8/15/27 (a) | | | 26,000 | | | | 15,668 | |
144A,5.25%, 8/15/27 | | | 20,000 | | | | 12,052 | |
Clydesdale Acquisition Holdings, Inc.,144A,6.875%, 1/15/30 | | | 10,000 | | | | 10,049 | |
LABL, Inc. | | | | | | | | |
144A,6.75%, 7/15/26 | | | 21,000 | | | | 20,913 | |
144A,10.50%, 7/15/27 | | | 15,000 | | | | 14,831 | |
144A,5.875%, 11/1/28 | | | 13,000 | | | | 12,016 | |
144A,8.25%, 11/1/29 | | | 11,000 | | | | 9,818 | |
Mauser Packaging Solutions Holding Co.,144A,9.25%, 4/15/27 | | | 38,000 | | | | 38,637 | |
Owens-Brockway Glass Container, Inc. | | | | | | | | |
144A,6.625%, 5/13/27 | | | 16,000 | | | | 16,068 | |
144A,7.25%, 5/15/31 (a) | | | 16,000 | | | | 16,210 | |
Sealed Air Corp.,144A,6.50%, 7/15/32 | | | 10,000 | | | | 10,240 | |
| | |
(Cost $270,647) | | | | | | | 250,928 | |
| | |
Transportation — 0.4% | | | | | | | | |
Cargo Aircraft Management, Inc.,144A,4.75%, 2/1/28 | | | 15,000 | | | | 14,384 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Seaspan Corp.,144A,5.50%, 8/1/29 | | | 13,000 | | | | 12,393 | |
XPO, Inc. | | | | | | | | |
144A,7.125%, 6/1/31 | | | 12,000 | | | | 12,557 | |
144A,7.125%, 2/1/32 | | | 15,000 | | | | 15,703 | |
| | |
(Cost $52,833) | | | | | | | 55,037 | |
| | |
Technology — 4.1% | | | | | | | | |
Computers — 1.0% | | | | | | | | |
Amentum Escrow Corp.,144A,7.25%, 8/1/32 | | | 20,000 | | | | 20,929 | |
CA Magnum Holdings,144A,5.375%, 10/31/26 | | | 23,000 | | | | 22,499 | |
McAfee Corp.,144A,7.375%, 2/15/30 (a) | | | 51,000 | | | | 48,966 | |
NCR Atleos Corp.,144A,9.50%, 4/1/29 | | | 35,000 | | | | 38,589 | |
| | |
(Cost $127,060) | | | | | | | 130,983 | |
| | |
Office/Business Equipment — 0.2% | | | | | | | | |
Xerox Holdings Corp. | | | | | | | | |
144A,5.50%, 8/15/28 | | | 19,000 | | | | 16,285 | |
144A,8.875%, 11/30/29 | | | 12,000 | | | | 11,271 | |
| | |
(Cost $29,757) | | | | | | | 27,556 | |
| | |
Semiconductors — 0.1% | | | | | | | | |
ams-OSRAM AG,144A,12.25%, 3/30/29 | | | | | | | | |
| | |
(Cost $10,999) | | | 10,000 | | | | 10,680 | |
| | |
Software — 2.8% | | | | | | | | |
AthenaHealth Group, Inc.,144A,6.50%, 2/15/30 | | | 59,000 | | | | 56,490 | |
Central Parent LLC / CDK Global II LLC / CDK Financing Co., Inc.,144A,8.00%, 6/15/29 | | | 19,000 | | | | 19,632 | |
Clarivate Science Holdings Corp.,144A,4.875%, 7/1/29 | | | 23,000 | | | | 22,178 | |
Cloud Software Group, Inc. | | | | | | | | |
144A,6.50%, 3/31/29 | | | 102,000 | | | | 100,617 | |
144A,9.00%, 9/30/29 | | | 92,000 | | | | 92,673 | |
MicroStrategy, Inc.,144A,6.125%, 6/15/28 | | | 11,000 | | | | 10,777 | |
RingCentral, Inc.,144A,8.50%, 8/15/30 | | | 13,000 | | | | 13,901 | |
Rocket Software, Inc. | | | | | | | | |
144A,9.00%, 11/28/28 | | | 15,000 | | | | 15,574 | |
144A,6.50%, 2/15/29 | | | 15,000 | | | | 13,707 | |
| | |
(Cost $320,821) | | | | | | | 345,549 | |
| | |
Utilities — 2.3% | | | | | | | | |
Electric — 2.0% | | | | | | | | |
Calpine Corp. | | | | | | | | |
144A,5.125%, 3/15/28 | | | 27,000 | | | | 26,366 | |
See Notes to Financial Statements.
12 | DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,4.625%, 2/1/29 | | | 19,000 | | | | 18,138 | |
144A,5.00%, 2/1/31 | | | 23,000 | | | | 22,068 | |
Continuum Energy Aura Pte Ltd.,144A,9.50%, 2/24/27 | | | 11,000 | | | | 11,428 | |
NextEra Energy Operating Partners LP | | | | | | | | |
144A,3.875%, 10/15/26 | | | 10,000 | | | | 9,683 | |
144A,4.50%, 9/15/27 | | | 15,000 | | | | 14,501 | |
144A,7.25%, 1/15/29 | | | 20,000 | | | | 20,957 | |
NRG Energy, Inc. | | | | | | | | |
144A,3.375%, 2/15/29 | | | 15,000 | | | | 13,778 | |
144A,5.25%, 6/15/29 | | | 20,000 | | | | 19,785 | |
144A,3.625%, 2/15/31 | | | 24,000 | | | | 21,493 | |
PG&E Corp.,5.25%, 7/1/30 | | | 26,000 | | | | 25,472 | |
Talen Energy Supply LLC,144A,8.625%, 6/1/30 | | | 35,000 | | | | 37,931 | |
TransAlta Corp.,7.75%, 11/15/29 | | | 5,000 | | | | 5,296 | |
| | |
(Cost $246,543) | | | | | | | 246,896 | |
| | |
Gas — 0.3% | | | | | | | | |
AmeriGas Partners LP / AmeriGas Finance Corp. | | | | | | | | |
5.875%, 8/20/26 | | | 18,000 | | | | 17,816 | |
5.75%, 5/20/27 | | | 13,000 | | | | 12,708 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,9.375%, 6/1/28 | | | 10,000 | | | | 10,507 | |
| | |
(Cost $40,430) | | | | | | | 41,031 | |
| | |
TOTAL CORPORATE BONDS | | | | | | | | |
| | |
(Cost $12,651,035) | | | | | | | 12,265,154 | |
| | |
| | | Number of Shares | | | | |
SECURITIES LENDING COLLATERAL — 8.2% | | | | | | | | |
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (b)(c) | | | | | | | | |
| | |
(Cost $1,027,697) | | | 1,027,697 | | | | 1,027,697 | |
| | |
CASH EQUIVALENTS — 1.0% | | | | | | | | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (b) | | | | | | | | |
| | |
(Cost $127,410) | | | 127,410 | | | | 127,410 | |
| | |
TOTAL INVESTMENTS — 106.7% | | | | | | | | |
| | |
(Cost $13,806,142) | | | | | | | 13,420,261 | |
Other assets and liabilities, net — (6.7%) | | | | | | | (838,517 | ) |
| | |
NET ASSETS — 100.0% | | | | | | | 12,581,744 | |
A summary of the Fund’s transactions with affiliated investments during the year ended August 31, 2024 is as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Value ($) at 8/31/2023 | | Purchases Cost ($) | | | Sales Proceeds ($) | | | Net Realized Gain/(Loss) ($) | | | Net Change in Unrealized Appreciation (Depreciation) ($) | | | Income ($) | | | Capital Gain Distributions ($) | | | Number of Shares at 8/31/2024 | | | Value ($) at 8/31/2024 | |
SECURITIES LENDING COLLATERAL — 8.2% | | | | | | | | | | | | | | | | | | | | | |
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (b)(c) | |
— | | | 1,027,697 | (d) | | | — | | | | — | | | | — | | | | 6,561 | | | | — | | | | 1,027,697 | | | | 1,027,697 | |
CASH EQUIVALENTS — 1.0% | | | | | | | | | | | | | | | | | | | | | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (b) | | | | | | | | | | | | | |
203,368 | | | 1,499,040 | | | | (1,574,998 | ) | | | — | | | | — | | | | 6,106 | | | | — | | | | 127,410 | | | | 127,410 | |
| | | | | | | | | |
203,368 | | | 2,526,737 | | | | (1,574,998 | ) | | | — | | | | — | | | | 12,667 | | | | — | | | | 1,155,107 | | | | 1,155,107 | |
| (a) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at August 31, 2024 amounted to $1,005,099, which is 8.0% 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. |
| (d) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the year ended August 31, 2024. |
See Notes to Financial Statements.
DBX ETF Trust | 13
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
August 31, 2024
| | |
PIK: | | Denotes that all or a portion of the income is paid in-kind in the form of additional principal. |
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 August 31, 2024 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 (a) | | $ | — | | | $ | 12,265,154 | | | $ | — | | | $ | 12,265,154 | |
Short-Term Investments (a) | | | 1,155,107 | | | | — | | | | — | | | | 1,155,107 | |
| | | | | |
TOTAL | | $ | 1,155,107 | | | $ | 12,265,154 | | | $ | — | | | $ | 13,420,261 | |
| (a) | See Schedule of Investments for additional detailed categorizations. |
See Notes to Financial Statements.
14 | DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
CORPORATE BONDS — 97.8% | | | | | | | | |
Basic Materials — 4.2% | | | | | | | | |
Chemicals — 1.7% | | | | | | | | |
Ashland, Inc.,144A,3.375%, 9/1/31 | | | 221,000 | | | | 193,802 | |
Avient Corp.,144A,7.125%, 8/1/30 | | | 372,000 | | | | 387,490 | |
Axalta Coating Systems Dutch Holding B BV,144A,7.25%, 2/15/31 | | | 257,000 | | | | 272,490 | |
Axalta Coating Systems LLC,144A,3.375%, 2/15/29 | | | 369,000 | | | | 342,494 | |
Methanex Corp. | | | | | | | | |
5.125%, 10/15/27 | | | 359,000 | | | | 353,596 | |
5.25%, 12/15/29 | | | 361,000 | | | | 355,036 | |
Olin Corp. | | | | | | | | |
5.125%, 9/15/27 | | | 257,000 | | | | 254,097 | |
5.625%, 8/1/29 | | | 344,000 | | | | 343,287 | |
5.00%, 2/1/30 | | | 267,000 | | | | 258,336 | |
SCIH Salt Holdings, Inc.,144A,4.875%, 5/1/28 | | | 554,000 | | | | 528,474 | |
WR Grace Holdings LLC,144A,4.875%, 6/15/27 | | | 400,000 | | | | 391,659 | |
| | |
(Cost $3,679,444) | | | | | | | 3,680,761 | |
| | |
Iron/Steel — 0.2% | | | | | | | | |
Cleveland-Cliffs, Inc.,5.875%, 6/1/27 | | | 285,000 | | | | 284,806 | |
United States Steel Corp.,6.875%, 3/1/29 | | | 254,000 | | | | 256,377 | |
| | |
(Cost $541,427) | | | | | | | 541,183 | |
| | |
Mining — 2.3% | | | | | | | | |
Alcoa Nederland Holding BV | | | | | | | | |
144A,5.50%, 12/15/27 | | | 400,000 | | | | 399,496 | |
144A,6.125%, 5/15/28 | | | 260,000 | | | | 263,588 | |
144A,4.125%, 3/31/29 | | | 266,000 | | | | 253,694 | |
144A,7.125%, 3/15/31 | | | 370,000 | | | | 389,389 | |
FMG Resources August 2006 Pty Ltd. | | | | | | | | |
144A,4.50%, 9/15/27 | | | 308,000 | | | | 298,246 | |
144A,5.875%, 4/15/30 | | | 363,000 | | | | 362,766 | |
144A,4.375%, 4/1/31 | | | 785,000 | | | | 720,910 | |
144A,6.125%, 4/15/32 | | | 407,000 | | | | 406,916 | |
Hudbay Minerals, Inc.,144A,4.50%, 4/1/26 | | | 305,000 | | | | 301,463 | |
Nexa Resources SA,144A,6.50%, 1/18/28 | | | 209,000 | | | | 217,069 | |
Novelis Corp. | | | | | | | | |
144A,3.25%, 11/15/26 | | | 385,000 | | | | 370,959 | |
144A,4.75%, 1/30/30 | | | 820,000 | | | | 783,924 | |
144A,3.875%, 8/15/31 | | | 385,000 | | | | 345,590 | |
| | |
(Cost $5,076,029) | | | | | | | 5,114,010 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Communications — 5.1% | | | | | | | | |
Advertising — 0.6% | | | | | | | | |
Lamar Media Corp. | | | | | | | | |
3.75%, 2/15/28 | | | 305,000 | | | | 292,511 | |
4.00%, 2/15/30 | | | 282,000 | | | | 263,534 | |
3.625%, 1/15/31 | | | 283,000 | | | | 256,483 | |
Outfront Media Capital LLC / Outfront Media Capital Corp. | | | | | | | | |
144A,5.00%, 8/15/27 | | | 335,000 | | | | 332,952 | |
144A,7.375%, 2/15/31 | | | 235,000 | | | | 250,137 | |
| | |
(Cost $1,445,756) | | | | | | | 1,395,617 | |
| | |
Internet — 1.3% | | | | | | | | |
Cogent Communications Group LLC,144A,3.50%, 5/1/26 | | | 250,000 | | | | 242,154 | |
Gen Digital, Inc. | | | | | | | | |
144A,6.75%, 9/30/27 | | | 461,000 | | | | 472,563 | |
144A,7.125%, 9/30/30 (a) | | | 318,000 | | | | 332,435 | |
Go Daddy Operating Co. LLC / GD Finance Co., Inc. | | | | | | | | |
144A,5.25%, 12/1/27 | | | 312,000 | | | | 311,260 | |
144A,3.50%, 3/1/29 | | | 411,000 | | | | 382,505 | |
Match Group Holdings II LLC | | | | | | | | |
144A,5.00%, 12/15/27 | | | 221,000 | | | | 217,598 | |
144A,4.625%, 6/1/28 | | | 258,000 | | | | 248,308 | |
144A,4.125%, 8/1/30 | | | 266,000 | | | | 245,254 | |
144A,3.625%, 10/1/31 | | | 257,000 | | | | 228,374 | |
MercadoLibre, Inc.,3.125%, 1/14/31 | | | 304,000 | | | | 271,053 | |
| | |
(Cost $2,986,906) | | | | | | | 2,951,504 | |
| | |
Media — 2.1% | | | | | | | | |
CCO Holdings LLC / CCO Holdings Capital Corp.,144A,5.50%, 5/1/26 | | | 388,000 | | | | 387,373 | |
News Corp. | | | | | | | | |
144A,3.875%, 5/15/29 | | | 505,000 | | | | 475,392 | |
144A,5.125%, 2/15/32 | | | 263,000 | | | | 255,906 | |
Sirius XM Radio, Inc. | | | | | | | | |
144A,3.125%, 9/1/26 | | | 532,000 | | | | 509,309 | |
144A,5.00%, 8/1/27 | | | 785,000 | | | | 768,124 | |
144A,4.00%, 7/15/28 | | | 1,015,000 | | | | 951,711 | |
Sunrise HoldCo IV BV,144A,5.50%, 1/15/28 | | | 130,000 | | | | 128,378 | |
TEGNA, Inc.,144A,4.75%, 3/15/26 | | | 282,000 | | | | 278,744 | |
Telenet Finance Luxembourg Notes SARL,144A,5.50%, 3/1/28 | | | 600,000 | | | | 582,345 | |
Ziggo Bond Co. BV,144A,6.00%, 1/15/27 | | | 316,000 | | | | 315,290 | |
| | |
(Cost $4,803,869) | | | | | | | 4,652,572 | |
See Notes to Financial Statements.
DBX ETF Trust | 15
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Telecommunications — 1.1% | | | | | | | | |
Frontier Communications Holdings LLC | | | | | | | | |
144A,5.875%, 10/15/27 | | | 580,000 | | | | 578,405 | |
144A,5.00%, 5/1/28 | | | 808,000 | | | | 785,356 | |
Iliad Holding SASU,144A,6.50%, 10/15/26 | | | 362,000 | | | | 365,482 | |
Millicom International Cellular SA,144A,5.125%, 1/15/28 | | | 187,200 | | | | 181,281 | |
Optics Bidco SpA | | | | | | | | |
144A,Series 2033, 6.375%, 11/15/33 | | | 260,000 | | | | 261,011 | |
144A,6.00%, 9/30/34 | | | 260,000 | | | | 253,491 | |
| | |
(Cost $2,444,064) | | | | | | | 2,425,026 | |
| | |
Consumer, Cyclical — 20.7% | | | | | | | | |
Airlines — 0.7% | | | | | | | | |
Air Canada,144A,3.875%, 8/15/26 | | | 626,000 | | | | 604,543 | |
United Airlines, Inc.,144A,4.375%, 4/15/26 | | | 1,047,000 | | | | 1,022,782 | |
| | |
(Cost $1,681,936) | | | | | | | 1,627,325 | |
| | |
Apparel — 0.1% | | | | | | | | |
Levi Strauss & Co.,144A,3.50%, 3/1/31 (a) | | | | | | | | |
| | |
(Cost $231,856) | | | 267,000 | | | | 241,117 | |
| | |
Auto Manufacturers — 0.4% | | | | | | | | |
Allison Transmission, Inc. | | | | | | | | |
144A,4.75%, 10/1/27 | | | 205,000 | | | | 200,863 | |
144A,5.875%, 6/1/29 | | | 277,000 | | | | 277,987 | |
144A,3.75%, 1/30/31 | | | 513,000 | | | | 466,687 | |
| | |
(Cost $966,553) | | | | | | | 945,537 | |
| | |
Auto Parts & Equipment — 1.6% | | | | | | | | |
Adient Global Holdings Ltd. | | | | | | | | |
144A,4.875%, 8/15/26 | | | 408,000 | | | | 403,365 | |
144A,7.00%, 4/15/28 | | | 257,000 | | | | 264,370 | |
144A,8.25%, 4/15/31 (a) | | | 265,000 | | | | 281,915 | |
Clarios Global LP / Clarios US Finance Co. | | | | | | | | |
144A,6.25%, 5/15/26 | | | 591,000 | | | | 592,613 | |
144A,8.50%, 5/15/27 | | | 25,000 | | | | 25,292 | |
144A,6.75%, 5/15/28 | | | 385,000 | | | | 396,172 | |
Goodyear Tire & Rubber Co. | | | | | | | | |
5.00%, 5/31/26 | | | 462,000 | | | | 456,641 | |
4.875%, 3/15/27 | | | 352,000 | | | | 344,188 | |
ZF North America Capital, Inc. | | | | | | | | |
144A,6.875%, 4/14/28 | | | 319,000 | | | | 329,843 | |
144A,7.125%, 4/14/30 | | | 308,000 | | | | 323,063 | |
| | |
(Cost $3,374,726) | | | | | | | 3,417,462 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Distribution/Wholesale — 0.8% | | | | | | | | |
American Builders & Contractors Supply Co., Inc. | | | | | | | | |
144A,4.00%, 1/15/28 | | | 365,000 | | | | 351,996 | |
144A,3.875%, 11/15/29 | | | 194,000 | | | | 179,762 | |
H&E Equipment Services, Inc.,144A,3.875%, 12/15/28 | | | 650,000 | | | | 602,739 | |
Ritchie Bros Holdings, Inc. | | | | | | | | |
144A,6.75%, 3/15/28 | | | 282,000 | | | | 290,479 | |
144A,7.75%, 3/15/31 | | | 411,000 | | | | 437,390 | |
| | |
(Cost $1,864,305) | | | | | | | 1,862,366 | |
| | |
Entertainment — 3.9% | | | | | | | | |
Caesars Entertainment, Inc. | | | | | | | | |
144A,8.125%, 7/1/27 | | | 827,000 | | | | 845,115 | |
144A,7.00%, 2/15/30 | | | 1,064,000 | | | | 1,102,653 | |
144A,6.50%, 2/15/32 | | | 768,000 | | | | 789,701 | |
Churchill Downs, Inc. | | | | | | | | |
144A,5.50%, 4/1/27 | | | 308,000 | | | | 307,365 | |
144A,4.75%, 1/15/28 | | | 369,000 | | | | 360,109 | |
144A,5.75%, 4/1/30 | | | 604,000 | | | | 600,748 | |
144A,6.75%, 5/1/31 | | | 303,000 | | | | 311,748 | |
International Game Technology PLC | | | | | | | | |
144A,4.125%, 4/15/26 | | | 385,000 | | | | 378,338 | |
144A,6.25%, 1/15/27 | | | 385,000 | | | | 391,602 | |
144A,5.25%, 1/15/29 | | | 393,000 | | | | 389,381 | |
Light & Wonder International, Inc.,144A,7.00%, 5/15/28 | | | 359,000 | | | | 363,279 | |
Live Nation Entertainment, Inc. | | | | | | | | |
144A,6.50%, 5/15/27 | | | 615,000 | | | | 626,163 | |
144A,4.75%, 10/15/27 | | | 479,000 | | | | 466,963 | |
144A,3.75%, 1/15/28 | | | 257,000 | | | | 244,135 | |
Mohegan Tribal Gaming Authority,144A,13.25%, 12/15/27 | | | 260,000 | | | | 295,600 | |
Vail Resorts, Inc.,144A,6.50%, 5/15/32 (a) | | | 300,000 | | | | 312,037 | |
WMG Acquisition Corp. | | | | | | | | |
144A,3.75%, 12/1/29 | | | 287,000 | | | | 267,919 | |
144A,3.875%, 7/15/30 | | | 259,000 | | | | 240,592 | |
144A,3.00%, 2/15/31 (a) | | | 421,000 | | | | 374,753 | |
| | |
(Cost $8,695,101) | | | | | | | 8,668,201 | |
| | |
Food Service — 0.3% | | | | | | | | |
Aramark Services, Inc.,144A,5.00%, 2/1/28 | | | | | | | | |
| | |
(Cost $601,366) | | | 617,000 | | | | 605,812 | |
| | |
Home Builders — 0.8% | | | | | | | | |
Century Communities, Inc. | | | | | | | | |
6.75%, 6/1/27 | | | 250,000 | | | | 252,419 | |
144A,3.875%, 8/15/29 | | | 255,000 | | | | 236,468 | |
See Notes to Financial Statements.
16 | DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Mattamy Group Corp. | | | | | | | | |
144A,5.25%, 12/15/27 | | | 263,000 | | | | 260,353 | |
144A,4.625%, 3/1/30 | | | 308,000 | | | | 290,731 | |
Taylor Morrison Communities, Inc. | | | | | | | | |
144A,5.875%, 6/15/27 | | | 267,000 | | | | 270,443 | |
144A,5.75%, 1/15/28 | | | 231,000 | | | | 233,120 | |
144A,5.125%, 8/1/30 | | | 252,000 | | | | 249,256 | |
| | |
(Cost $1,764,329) | | | | | | | 1,792,790 | |
| | |
Home Furnishings — 0.2% | | | | | | | | |
Tempur Sealy International, Inc.,144A,4.00%, 4/15/29 | | | | | | | | |
| | |
(Cost $364,362) | | | 402,000 | | | | 373,163 | |
| | |
Leisure Time — 3.8% | | | | | | | | |
Carnival Corp.,144A,7.625%, 3/1/26 | | | 712,000 | | | | 719,690 | |
Carnival Holdings Bermuda Ltd.,144A,10.375%, 5/1/28 | | | 1,032,000 | | | | 1,117,134 | |
Life Time, Inc. | | | | | | | | |
144A,5.75%, 1/15/26 | | | 475,000 | | | | 475,429 | |
144A,8.00%, 4/15/26 (a) | | | 250,000 | | | | 253,935 | |
NCL Corp. Ltd. | | | | | | | | |
144A,5.875%, 2/15/27 | | | 513,000 | | | | 514,553 | |
144A,8.375%, 2/1/28 | | | 315,000 | | | | 332,695 | |
Royal Caribbean Cruises Ltd. | | | | | | | | |
144A,4.25%, 7/1/26 | | | 338,000 | | | | 332,693 | |
144A,5.50%, 8/31/26 | | | 549,000 | | | | 550,192 | |
144A,5.375%, 7/15/27 | | | 519,000 | | | | 520,349 | |
3.70%, 3/15/28 | | | 249,000 | | | | 238,456 | |
144A,5.50%, 4/1/28 | | | 784,000 | | | | 790,545 | |
144A,7.25%, 1/15/30 | | | 344,000 | | | | 363,910 | |
144A,6.25%, 3/15/32 | | | 629,000 | | | | 649,973 | |
144A,6.00%, 2/1/33 | | | 1,040,000 | | | | 1,066,014 | |
Viking Cruises Ltd.,144A,5.875%, 9/15/27 | | | 441,000 | | | | 440,807 | |
| | |
(Cost $8,258,078) | | | | | | | 8,366,375 | |
| | |
Lodging — 2.9% | | | | | | | | |
Boyd Gaming Corp. | | | | | | | | |
4.75%, 12/1/27 | | | 513,000 | | | | 504,352 | |
144A,4.75%, 6/15/31 | | | 462,000 | | | | 435,004 | |
Hilton Domestic Operating Co., Inc. | | | | | | | | |
144A,5.75%, 5/1/28 | | | 257,000 | | | | 257,633 | |
144A,5.875%, 4/1/29 | | | 290,000 | | | | 295,732 | |
144A,3.75%, 5/1/29 | | | 411,000 | | | | 386,896 | |
4.875%, 1/15/30 | | | 538,000 | | | | 528,268 | |
144A,4.00%, 5/1/31 | | | 565,000 | | | | 522,450 | |
144A,3.625%, 2/15/32 | | | 768,000 | | | | 688,864 | |
144A,6.125%, 4/1/32 | | | 240,000 | | | | 246,214 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand Vacations Borrower Esc,144A,4.875%, 7/1/31 | | | 257,000 | | | | 230,590 | |
MGM Resorts International | | | | | | | | |
4.625%, 9/1/26 | | | 214,000 | | | | 211,257 | |
5.50%, 4/15/27 | | | 350,000 | | | | 350,197 | |
4.75%, 10/15/28 (a) | | | 385,000 | | | | 375,026 | |
Station Casinos LLC,144A,4.50%, 2/15/28 | | | 358,000 | | | | 343,821 | |
Travel + Leisure Co. | | | | | | | | |
144A,6.625%, 7/31/26 | | | 334,000 | | | | 340,154 | |
6.00%, 4/1/27 | | | 205,000 | | | | 205,684 | |
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp.,144A,5.25%, 5/15/27 | | | 465,000 | | | | 462,198 | |
| | |
(Cost $6,440,770) | | | | | | | 6,384,340 | |
| | |
Retail — 5.2% | | | | | | | | |
1011778 BC ULC / New Red Finance, Inc. | | | | | | | | |
144A,3.875%, 1/15/28 | | | 796,000 | | | | 760,934 | |
144A,4.375%, 1/15/28 | | | 385,000 | | | | 373,367 | |
144A,3.50%, 2/15/29 | | | 385,000 | | | | 359,430 | |
144A,6.125%, 6/15/29 | | | 630,000 | | | | 643,876 | |
144A,4.00%, 10/15/30 | | | 1,504,000 | | | | 1,378,869 | |
Advance Auto Parts, Inc.,3.90%, 4/15/30 (a) | | | 269,000 | | | | 247,357 | |
Asbury Automotive Group, Inc. | | | | | | | | |
4.50%, 3/1/28 | | | 184,000 | | | | 178,560 | |
144A,4.625%, 11/15/29 | | | 426,000 | | | | 406,052 | |
4.75%, 3/1/30 | | | 228,000 | | | | 218,125 | |
Bath & Body Works, Inc.,5.25%, 2/1/28 | | | 227,000 | | | | 223,961 | |
Beacon Roofing Supply, Inc.,144A,6.50%, 8/1/30 | | | 308,000 | | | | 316,600 | |
Ferrellgas LP / Ferrellgas Finance Corp.,144A,5.375%, 4/1/26 | | | 342,000 | | | | 343,257 | |
FirstCash, Inc. | | | | | | | | |
144A,4.625%, 9/1/28 | | | 257,000 | | | | 246,448 | |
144A,5.625%, 1/1/30 | | | 292,000 | | | | 288,700 | |
Group 1 Automotive, Inc. | | | | | | | | |
144A,4.00%, 8/15/28 | | | 390,000 | | | | 369,242 | |
144A,6.375%, 1/15/30 | | | 260,000 | | | | 265,151 | |
Lithia Motors, Inc. | | | | | | | | |
144A,4.625%, 12/15/27 | | | 205,000 | | | | 200,344 | |
144A,3.875%, 6/1/29 | | | 396,000 | | | | 367,642 | |
144A,4.375%, 1/15/31 | | | 292,000 | | | | 269,337 | |
Murphy Oil USA, Inc. | | | | | | | | |
4.75%, 9/15/29 | | | 247,000 | | | | 239,868 | |
144A,3.75%, 2/15/31 | | | 262,000 | | | | 237,290 | |
Nordstrom, Inc. | | | | | | | | |
4.375%, 4/1/30 | | | 255,000 | | | | 235,116 | |
4.25%, 8/1/31 | | | 221,000 | | | | 197,137 | |
See Notes to Financial Statements.
DBX ETF Trust | 17
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Penske Automotive Group, Inc. | | | | | | | | |
3.50%, 9/1/25 | | | 282,000 | | | | 277,827 | |
3.75%, 6/15/29 | | | 259,000 | | | | 241,280 | |
Walgreens Boots Alliance, Inc.,3.45%, 6/1/26 | | | 730,000 | | | | 695,226 | |
Yum! Brands, Inc. | | | | | | | | |
144A,4.75%, 1/15/30 | | | 421,000 | | | | 414,382 | |
3.625%, 3/15/31 | | | 511,000 | | | | 469,400 | |
4.625%, 1/31/32 | | | 575,000 | | | | 545,516 | |
5.375%, 4/1/32 | | | 518,000 | | | | 513,876 | |
| | |
(Cost $11,677,485) | | | | | | | 11,524,170 | |
| | |
Consumer, Non-cyclical —22.3% | | | | | | | | |
Agriculture — 0.3% | | | | | | | | |
Darling Ingredients, Inc. | | | | | | | | |
144A,5.25%, 4/15/27 | | | 259,000 | | | | 258,579 | |
144A,6.00%, 6/15/30 | | | 513,000 | | | | 519,912 | |
| | |
(Cost $778,980) | | | | | | | 778,491 | |
| | |
Commercial Services — 5.9% | | | | | | | | |
ADT Security Corp.,144A,4.125%, 8/1/29 | | | 526,000 | | | | 500,018 | |
Albion Financing 1 SARL / Aggreko Holdings, Inc.,144A,6.125%, 10/15/26 | | | 300,000 | | | | 299,340 | |
APX Group, Inc. | | | | | | | | |
144A,6.75%, 2/15/27 | | | 308,000 | | | | 308,921 | |
144A,5.75%, 7/15/29 | | | 403,000 | | | | 399,667 | |
Block, Inc. | | | | | | | | |
2.75%, 6/1/26 | | | 513,000 | | | | 493,177 | |
3.50%, 6/1/31 | | | 506,000 | | | | 457,188 | |
144A,6.50%, 5/15/32 | | | 1,050,000 | | | | 1,090,176 | |
Brink’s Co. | | | | | | | | |
144A,4.625%, 10/15/27 | | | 298,000 | | | | 292,059 | |
144A,6.50%, 6/15/29 | | | 215,000 | | | | 222,668 | |
Garda World Security Corp.,144A,7.75%, 2/15/28 | | | 260,000 | | | | 272,942 | |
Herc Holdings, Inc. | | | | | | | | |
144A,5.50%, 7/15/27 | | | 626,000 | | | | 621,973 | |
144A,6.625%, 6/15/29 | | | 400,000 | | | | 411,680 | |
Prime Security Services Borrower LLC / Prime Finance, Inc. | | | | | | | | |
144A,5.75%, 4/15/26 | | | 693,000 | | | | 695,044 | |
144A,3.375%, 8/31/27 | | | 503,000 | | | | 476,746 | |
Service Corp. International | | | | | | | | |
4.625%, 12/15/27 | | | 282,000 | | | | 276,979 | |
5.125%, 6/1/29 | | | 395,000 | | | | 391,328 | |
3.375%, 8/15/30 | | | 431,000 | | | | 387,164 | |
4.00%, 5/15/31 | | | 407,000 | | | | 373,835 | |
Shift4 Payments LLC / Shift4 Payments Finance Sub, Inc.,144A,6.75%, 8/15/32 | | | 570,000 | | | | 588,428 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
United Rentals North America, Inc. | | | | | | | | |
5.50%, 5/15/27 | | | 247,000 | | | | 247,965 | |
3.875%, 11/15/27 | | | 390,000 | | | | 376,768 | |
4.875%, 1/15/28 | | | 867,000 | | | | 855,877 | |
5.25%, 1/15/30 | | | 391,000 | | | | 388,177 | |
4.00%, 7/15/30 | | | 387,000 | | | | 362,269 | |
3.875%, 2/15/31 | | | 565,000 | | | | 522,055 | |
3.75%, 1/15/32 | | | 385,000 | | | | 347,780 | |
144A,6.125%, 3/15/34 | | | 570,000 | | | | 582,956 | |
Williams Scotsman, Inc. | | | | | | | | |
144A,4.625%, 8/15/28 | | | 257,000 | | | | 248,768 | |
144A,6.625%, 6/15/29 | | | 250,000 | | | | 258,349 | |
144A,7.375%, 10/1/31 | | | 267,000 | | | | 280,816 | |
| | |
(Cost $13,203,893) | | | | | | | 13,031,113 | |
| | |
Cosmetics/Personal Care — 1.1% | | | | | | | | |
Coty, Inc.,144A,5.00%, 4/15/26 | | | 336,000 | | | | 335,255 | |
Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International US LLC,144A,6.625%, 7/15/30 | | | 386,000 | | | | 400,156 | |
Edgewell Personal Care Co.,144A,5.50%, 6/1/28 | | | 385,000 | | | | 382,277 | |
Perrigo Finance Unlimited Co. | | | | | | | | |
4.375%, 3/15/26 | | | 369,000 | | | | 363,816 | |
4.90%, 6/15/30 | | | 390,000 | | | | 377,256 | |
Prestige Brands, Inc. | | | | | | | | |
144A,5.125%, 1/15/28 | | | 185,000 | | | | 182,478 | |
144A,3.75%, 4/1/31 | | | 323,000 | | | | 293,016 | |
| | |
(Cost $2,348,745) | | | | | | | 2,334,254 | |
| | |
Food — 3.9% | | | | | | | | |
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC | | | | | | | | |
144A,3.25%, 3/15/26 | | | 385,000 | | | | 372,232 | |
144A,7.50%, 3/15/26 | | | 308,000 | | | | 312,373 | |
144A,4.625%, 1/15/27 | | | 693,000 | | | | 677,789 | |
144A,5.875%, 2/15/28 | | | 386,000 | | | | 385,442 | |
144A,6.50%, 2/15/28 | | | 385,000 | | | | 390,379 | |
144A,3.50%, 3/15/29 | | | 688,000 | | | | 639,677 | |
144A,4.875%, 2/15/30 | | | 512,000 | | | | 502,255 | |
Lamb Weston Holdings, Inc. | | | | | | | | |
144A,4.875%, 5/15/28 | | | 257,000 | | | | 253,172 | |
144A,4.125%, 1/31/30 | | | 498,000 | | | | 463,867 | |
144A,4.375%, 1/31/32 | | | 352,000 | | | | 324,465 | |
Performance Food Group, Inc. | | | | | | | | |
144A,5.50%, 10/15/27 | | | 549,000 | | | | 546,651 | |
144A,4.25%, 8/1/29 | | | 513,000 | | | | 484,700 | |
Pilgrim’s Pride Corp. | | | | | | | | |
3.50%, 3/1/32 | | | 464,000 | | | | 410,665 | |
6.25%, 7/1/33 | | | 508,000 | | | | 537,732 | |
See Notes to Financial Statements.
18 | DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
6.875%, 5/15/34 | | | 250,000 | | | | 276,666 | |
Post Holdings, Inc. | | | | | | | | |
144A,5.625%, 1/15/28 | | | 252,000 | | | | 251,625 | |
144A,6.25%, 2/15/32 | | | 512,000 | | | | 525,702 | |
US Foods, Inc. | | | | | | | | |
144A,6.875%, 9/15/28 | | | 257,000 | | | | 267,660 | |
144A,4.75%, 2/15/29 | | | 455,000 | | | | 444,174 | |
144A,4.625%, 6/1/30 | | | 275,000 | | | | 263,398 | |
144A,7.25%, 1/15/32 | | | 257,000 | | | | 271,601 | |
| | |
(Cost $8,547,575) | | | | | | | 8,602,225 | |
| | |
Healthcare-Products — 3.0% | | | | | | | | |
Avantor Funding, Inc. | | | | | | | | |
144A,4.625%, 7/15/28 | | | 781,000 | | | | 760,842 | |
144A,3.875%, 11/1/29 | | | 421,000 | | | | 394,673 | |
Hologic, Inc. | | | | | | | | |
144A,4.625%, 2/1/28 | | | 205,000 | | | | 200,397 | |
144A,3.25%, 2/15/29 | | | 483,000 | | | | 446,474 | |
Medline Borrower LP | | | | | | | | |
144A,3.875%, 4/1/29 | | | 2,324,000 | | | | 2,197,047 | |
144A,5.25%, 10/1/29 | | | 1,289,000 | | | | 1,266,960 | |
Medline Borrower LP/Medline Co.-Issuer, Inc.,144A,6.25%, 4/1/29 | | | 764,000 | | | | 788,505 | |
Teleflex, Inc. | | | | | | | | |
4.625%, 11/15/27 | | | 267,000 | | | | 262,139 | |
144A,4.25%, 6/1/28 | | | 257,000 | | | | 247,231 | |
| | |
(Cost $6,387,097) | | | | | | | 6,564,268 | |
| | |
Healthcare-Services — 6.0% | | | | | | | | |
Catalent Pharma Solutions, Inc. | | | | | | | | |
144A,5.00%, 7/15/27 | | | 259,000 | | | | 257,831 | |
144A,3.125%, 2/15/29 | | | 282,000 | | | | 275,287 | |
144A,3.50%, 4/1/30 | | | 329,000 | | | | 321,502 | |
Charles River Laboratories International, Inc. | | | | | | | | |
144A,4.25%, 5/1/28 | | | 257,000 | | | | 248,513 | |
144A,3.75%, 3/15/29 | | | 257,000 | | | | 241,007 | |
144A,4.00%, 3/15/31 | | | 265,000 | | | | 244,094 | |
Concentra Escrow Issuer Corp.,144A,6.875%, 7/15/32 | | | 333,000 | | | | 348,765 | |
DaVita, Inc.,144A,3.75%, 2/15/31 | | | 778,000 | | | | 693,028 | |
Encompass Health Corp. | | | | | | | | |
4.50%, 2/1/28 | | | 391,000 | | | | 382,574 | |
4.75%, 2/1/30 | | | 421,000 | | | | 408,473 | |
4.625%, 4/1/31 | | | 216,000 | | | | 204,712 | |
IQVIA, Inc. | | | | | | | | |
144A,5.00%, 10/15/26 | | | 562,000 | | | | 558,833 | |
144A,5.00%, 5/15/27 | | | 565,000 | | | | 561,370 | |
144A,6.50%, 5/15/30 | | | 252,000 | | | | 262,158 | |
Legacy LifePoint Health LLC,144A,4.375%, 2/15/27 | | | 329,000 | | | | 321,285 | |
Molina Healthcare, Inc. | | | | | | | | |
144A,4.375%, 6/15/28 | | | 388,000 | | | | 373,620 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,3.875%, 11/15/30 | | | 334,000 | | | | 307,369 | |
144A,3.875%, 5/15/32 | | | 403,000 | | | | 361,928 | |
Select Medical Corp.,144A,6.25%, 8/15/26 | | | 634,000 | | | | 637,587 | |
Tenet Healthcare Corp. | | | | | | | | |
6.25%, 2/1/27 | | | 790,000 | | | | 792,223 | |
5.125%, 11/1/27 | | | 774,000 | | | | 767,868 | |
4.625%, 6/15/28 | | | 292,000 | | | | 285,563 | |
6.125%, 10/1/28 | | | 1,283,000 | | | | 1,286,547 | |
4.25%, 6/1/29 | | | 709,000 | | | | 681,053 | |
4.375%, 1/15/30 | | | 744,000 | | | | 711,982 | |
6.125%, 6/15/30 | | | 1,027,000 | | | | 1,043,886 | |
6.75%, 5/15/31 | | | 711,000 | | | | 737,834 | |
| | |
(Cost $13,351,612) | | | | | | | 13,316,892 | |
| | |
Household Products/Wares — 0.1% | | | | | | | | |
Central Garden & Pet Co.,4.125%, 10/15/30 | | | | | | | | |
| | |
(Cost $237,938) | | | 257,000 | | | | 236,385 | |
| | |
Pharmaceuticals — 2.0% | | | | | | | | |
Jazz Securities DAC,144A,4.375%, 1/15/29 | | | 764,000 | | | | 727,741 | |
Organon & Co. / Organon Foreign Debt Co.-Issuer BV | | | | | | | | |
144A,4.125%, 4/30/28 | | | 1,078,000 | | | | 1,031,369 | |
144A,6.75%, 5/15/34 | | | 265,000 | | | | 274,960 | |
Teva Pharmaceutical Finance Netherlands III BV | | | | | | | | |
3.15%, 10/1/26 | | | 1,748,000 | | | | 1,675,249 | |
6.75%, 3/1/28 | | | 642,000 | | | | 669,099 | |
| | |
(Cost $4,358,257) | | | | | | | 4,378,418 | |
| | |
Energy — 10.7% | | | | | | | | |
Oil & Gas — 5.6% | | | | | | | | |
Antero Resources Corp. | | | | | | | | |
144A,7.625%, 2/1/29 | | | 209,000 | | | | 216,843 | |
144A,5.375%, 3/1/30 | | | 303,000 | | | | 299,518 | |
Ascent Resources Utica Holdings LLC / ARU Finance Corp. | | | | | | | | |
144A,7.00%, 11/1/26 | | | 306,000 | | | | 307,211 | |
144A,8.25%, 12/31/28 | | | 265,000 | | | | 272,492 | |
144A,5.875%, 6/30/29 | | | 195,000 | | | | 195,101 | |
Chesapeake Energy Corp. | | | | | | | | |
144A,5.50%, 2/1/26 | | | 277,000 | | | | 277,334 | |
144A,5.875%, 2/1/29 | | | 257,000 | | | | 257,769 | |
144A,6.75%, 4/15/29 | | | 488,000 | | | | 495,597 | |
Civitas Resources, Inc.,144A,5.00%, 10/15/26 | | | 209,000 | | | | 206,222 | |
CNX Resources Corp. | | | | | | | | |
144A,6.00%, 1/15/29 | | | 258,000 | | | | 259,381 | |
144A,7.375%, 1/15/31 | | | 261,000 | | | | 272,930 | |
See Notes to Financial Statements.
DBX ETF Trust | 19
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Matador Resources Co. | | | | | | | | |
144A,6.875%, 4/15/28 | | | 257,000 | | | | 263,839 | |
144A,6.50%, 4/15/32 | | | 460,000 | | | | 467,206 | |
Murphy Oil Corp.,5.875%, 12/1/27 | | | 203,000 | | | | 204,039 | |
Parkland Corp. | | | | | | | | |
144A,5.875%, 7/15/27 | | | 252,000 | | | | 252,252 | |
144A,4.50%, 10/1/29 | | | 421,000 | | | | 397,714 | |
PBF Holding Co. LLC / PBF Finance Corp.,6.00%, 2/15/28 | | | 404,000 | | | | 400,346 | |
Permian Resources Operating LLC | | | | | | | | |
144A,8.00%, 4/15/27 | | | 282,000 | | | | 291,429 | |
144A,5.875%, 7/1/29 | | | 349,000 | | | | 349,328 | |
144A,9.875%, 7/15/31 | | | 257,000 | | | | 288,621 | |
144A,7.00%, 1/15/32 | | | 518,000 | | | | 543,825 | |
144A,6.25%, 2/1/33 | | | 530,000 | | | | 543,795 | |
Range Resources Corp. | | | | | | | | |
8.25%, 1/15/29 | | | 298,000 | | | | 309,049 | |
144A,4.75%, 2/15/30 | | | 257,000 | | | | 246,834 | |
SM Energy Co. | | | | | | | | |
6.75%, 9/15/26 | | | 207,000 | | | | 207,353 | |
6.625%, 1/15/27 | | | 230,000 | | | | 231,164 | |
6.50%, 7/15/28 | | | 205,000 | | | | 206,307 | |
144A,6.75%, 8/1/29 | | | 385,000 | | | | 391,324 | |
Southwestern Energy Co. | | | | | | | | |
5.375%, 2/1/29 | | | 357,000 | | | | 352,678 | |
5.375%, 3/15/30 | | | 649,000 | | | | 643,757 | |
4.75%, 2/1/32 | | | 578,000 | | | | 548,179 | |
Sunoco LP,144A,7.00%, 5/1/29 | | | 360,000 | | | | 375,285 | |
Sunoco LP / Sunoco Finance Corp. | | | | | | | | |
6.00%, 4/15/27 | | | 338,000 | | | | 339,134 | |
144A,7.00%, 9/15/28 | | | 257,000 | | | | 268,302 | |
4.50%, 5/15/29 | | | 411,000 | | | | 394,945 | |
4.50%, 4/30/30 | | | 414,000 | | | | 393,671 | |
TGNR Intermediate Holdings LLC,144A,5.50%, 10/15/29 | | | 359,000 | | | | 348,725 | |
| | |
(Cost $12,157,253) | | | | | | | 12,319,499 | |
| | |
Oil & Gas Services — 0.1% | | | | | | | | |
Archrock Partners LP / Archrock Partners Finance Corp.,144A,6.875%, 4/1/27 | | | | | | | | |
| | |
(Cost $263,895) | | | 262,000 | | | | 264,090 | |
| | |
Pipelines — 5.0% | | | | | | | | |
Antero Midstream Partners LP / Antero Midstream Finance Corp. | | | | | | | | |
144A,5.75%, 3/1/27 | | | 333,000 | | | | 332,853 | |
144A,5.375%, 6/15/29 | | | 385,000 | | | | 380,632 | |
Buckeye Partners LP | | | | | | | | |
3.95%, 12/1/26 | | | 295,000 | | | | 286,844 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
4.125%, 12/1/27 | | | 205,000 | | | | 196,799 | |
CQP Holdco LP / BIP-V Chinook Holdco LLC,144A,5.50%, 6/15/31 | | | 732,000 | | | | 718,078 | |
DT Midstream, Inc. | | | | | | | | |
144A,4.125%, 6/15/29 | | | 560,000 | | | | 532,470 | |
144A,4.375%, 6/15/31 | | | 519,000 | | | | 488,045 | |
EQM Midstream Partners LP | | | | | | | | |
4.125%, 12/1/26 | | | 257,000 | | | | 252,652 | |
144A,6.50%, 7/1/27 | | | 486,000 | | | | 498,450 | |
5.50%, 7/15/28 | | | 436,000 | | | | 439,261 | |
144A,4.50%, 1/15/29 | | | 401,000 | | | | 388,958 | |
144A,6.375%, 4/1/29 | | | 305,000 | | | | 313,800 | |
144A,7.50%, 6/1/30 | | | 253,000 | | | | 276,286 | |
144A,4.75%, 1/15/31 | | | 581,000 | | | | 558,629 | |
Hess Midstream Operations LP | | | | | | | | |
144A,5.625%, 2/15/26 | | | 408,000 | | | | 407,202 | |
144A,5.125%, 6/15/28 | | | 282,000 | | | | 278,954 | |
144A,6.50%, 6/1/29 | | | 280,000 | | | | 289,136 | |
144A,4.25%, 2/15/30 | | | 415,000 | | | | 392,505 | |
144A,5.50%, 10/15/30 | | | 205,000 | | | | 203,223 | |
NuStar Logistics LP | | | | | | | | |
5.75%, 10/1/25 | | | 308,000 | | | | 308,373 | |
6.00%, 6/1/26 | | | 245,000 | | | | 247,477 | |
5.625%, 4/28/27 | | | 322,000 | | | | 323,099 | |
6.375%, 10/1/30 | | | 295,000 | | | | 308,380 | |
Rockies Express Pipeline LLC,144A,4.95%, 7/15/29 | | | 288,000 | | | | 275,497 | |
Venture Global Calcasieu Pass LLC | | | | | | | | |
144A,3.875%, 8/15/29 | | | 649,000 | | | | 614,022 | |
144A,6.25%, 1/15/30 | | | 533,000 | | | | 554,501 | |
144A,4.125%, 8/15/31 | | | 647,000 | | | | 600,164 | |
144A,3.875%, 11/1/33 | | | 631,000 | | | | 561,719 | |
| | |
(Cost $11,171,182) | | | | | | | 11,028,009 | |
| | |
Financial — 11.6% | | | | | | | | |
Diversified Financial Services — 4.5% | | | | | | | | |
Jane Street Group / JSG Finance, Inc. | | | | | | | | |
144A,4.50%, 11/15/29 | | | 320,000 | | | | 305,673 | |
144A,7.125%, 4/30/31 | | | 722,000 | | | | 758,862 | |
Macquarie Airfinance Holdings Ltd. | | | | | | | | |
144A,8.375%, 5/1/28 | | | 256,000 | | | | 271,484 | |
144A,6.40%, 3/26/29 | | | 260,000 | | | | 270,747 | |
144A,8.125%, 3/30/29 | | | 260,000 | | | | 276,699 | |
144A,6.50%, 3/26/31 | | | 255,000 | | | | 269,048 | |
Nationstar Mortgage Holdings, Inc. | | | | | | | | |
144A,5.00%, 2/1/26 | | | 250,000 | | | | 247,295 | |
144A,6.00%, 1/15/27 | | | 311,000 | | | | 310,737 | |
144A,5.50%, 8/15/28 | | | 436,000 | | | | 428,541 | |
See Notes to Financial Statements.
20 | DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,6.50%, 8/1/29 | | | 400,000 | | | | 403,529 | |
Navient Corp. | | | | | | | | |
6.75%, 6/15/26 | | | 241,000 | | | | 245,514 | |
5.00%, 3/15/27 | | | 369,000 | | | | 362,636 | |
OneMain Finance Corp. | | | | | | | | |
7.125%, 3/15/26 | | | 816,000 | | | | 832,155 | |
3.50%, 1/15/27 | | | 385,000 | | | | 365,339 | |
6.625%, 1/15/28 | | | 400,000 | | | | 408,060 | |
PennyMac Financial Services, Inc. | | | | | | | | |
144A,5.375%, 10/15/25 | | | 344,000 | | | | 343,149 | |
144A,4.25%, 2/15/29 | | | 335,000 | | | | 316,709 | |
144A,7.875%, 12/15/29 | | | 372,000 | | | | 395,132 | |
Rocket Mortgage LLC / Rocket Mortgage Co.-Issuer, Inc. | | | | | | | | |
144A,2.875%, 10/15/26 | | | 645,000 | | | | 614,038 | |
144A,3.625%, 3/1/29 | | | 390,000 | | | | 362,383 | |
144A,3.875%, 3/1/31 | | | 641,000 | | | | 585,195 | |
144A,4.00%, 10/15/33 | | | 427,000 | | | | 376,845 | |
SLM Corp. | | | | | | | | |
4.20%, 10/29/25 | | | 257,000 | | | | 254,811 | |
3.125%, 11/2/26 | | | 259,000 | | | | 247,762 | |
United Wholesale Mortgage LLC | | | | | | | | |
144A,5.50%, 11/15/25 | | | 411,000 | | | | 410,778 | |
144A,5.75%, 6/15/27 | | | 252,000 | | | | 251,258 | |
| | |
(Cost $9,913,858) | | | | | | | 9,914,379 | |
| | |
Insurance — 2.5% | | | | | | | | |
Acrisure LLC / Acrisure Finance, Inc.,144A,4.25%, 2/15/29 | | | 359,000 | | | | 336,606 | |
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer | | | | | | | | |
144A,4.25%, 10/15/27 | | | 385,000 | | | | 371,415 | |
144A,6.75%, 4/15/28 | | | 662,000 | | | | 674,918 | |
144A,7.00%, 1/15/31 | | | 735,000 | | | | 760,358 | |
AmWINS Group, Inc.,144A,6.375%, 2/15/29 | | | 390,000 | | | | 400,119 | |
HUB International Ltd. | | | | | | | | |
144A,5.625%, 12/1/29 (a) | | | 288,000 | | | | 282,576 | |
144A,7.25%, 6/15/30 | | | 1,694,000 | | | | 1,770,504 | |
144A,7.375%, 1/31/32 | | | 970,000 | | | | 1,006,241 | |
| | |
(Cost $5,457,247) | | | | | | | 5,602,737 | |
| | |
Real Estate — 0.5% | | | | | | | | |
Howard Hughes Corp. | | | | | | | | |
144A,5.375%, 8/1/28 | | | 375,000 | | | | 365,009 | |
144A,4.125%, 2/1/29 | | | 339,000 | | | | 312,644 | |
144A,4.375%, 2/1/31 | | | 340,000 | | | | 305,047 | |
| | |
(Cost $1,029,844) | | | | | | | 982,700 | |
| | |
Real Estate Investment Trusts —4.1% | | | | | | | | |
Iron Mountain, Inc. | | | | | | | | |
144A,4.875%, 9/15/27 | | | 513,000 | | | | 504,182 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,5.25%, 3/15/28 | | | 414,000 | | | | 409,699 | |
144A,5.00%, 7/15/28 | | | 257,000 | | | | 252,897 | |
144A,7.00%, 2/15/29 | | | 513,000 | | | | 533,187 | |
144A,4.875%, 9/15/29 | | | 513,000 | | | | 498,312 | |
144A,5.25%, 7/15/30 | | | 672,000 | | | | 655,449 | |
144A,4.50%, 2/15/31 | | | 576,000 | | | | 541,205 | |
144A,5.625%, 7/15/32 | | | 311,000 | | | | 306,632 | |
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp. | | | | | | | | |
144A,4.25%, 2/1/27 | | | 309,000 | | | | 300,165 | |
144A,4.75%, 6/15/29 | | | 327,000 | | | | 315,404 | |
144A,7.00%, 7/15/31 | | | 256,000 | | | | 266,354 | |
Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co.-Issuer | | | | | | | | |
144A,5.875%, 10/1/28 | | | 412,000 | | | | 410,237 | |
144A,4.875%, 5/15/29 | | | 393,000 | | | | 375,233 | |
144A,7.00%, 2/1/30 | | | 265,000 | | | | 271,876 | |
RHP Hotel Properties LP / RHP Finance Corp. | | | | | | | | |
4.75%, 10/15/27 | | | 359,000 | | | | 351,933 | |
144A,7.25%, 7/15/28 | | | 205,000 | | | | 213,350 | |
144A,4.50%, 2/15/29 | | | 303,000 | | | | 291,099 | |
RLJ Lodging Trust LP | | | | | | | | |
144A,3.75%, 7/1/26 | | | 269,000 | | | | 260,306 | |
144A,4.00%, 9/15/29 | | | 257,000 | | | | 233,462 | |
SBA Communications Corp. | | | | | | | | |
3.875%, 2/15/27 | | | 783,000 | | | | 758,387 | |
3.125%, 2/1/29 | | | 761,000 | | | | 700,981 | |
Starwood Property Trust, Inc. | | | | | | | | |
144A,3.625%, 7/15/26 | | | 205,000 | | | | 197,504 | |
144A,4.375%, 1/15/27 | | | 259,000 | | | | 251,843 | |
Vornado Realty LP,2.15%, 6/1/26 | | | 202,000 | | | | 191,199 | |
| | |
(Cost $9,015,349) | | | | | | | 9,090,896 | |
| | |
Industrial — 13.8% | | | | | | | | |
Aerospace/Defense — 4.8% | | | | | | | | |
Bombardier, Inc. | | | | | | | | |
144A,7.875%, 4/15/27 | | | 500,000 | | | | 502,013 | |
144A,6.00%, 2/15/28 | | | 380,000 | | | | 380,564 | |
144A,7.50%, 2/1/29 | | | 388,000 | | | | 409,013 | |
144A,8.75%, 11/15/30 | | | 373,000 | | | | 407,225 | |
144A,7.25%, 7/1/31 | | | 400,000 | | | | 420,376 | |
144A,7.00%, 6/1/32 | | | 380,000 | | | | 396,052 | |
Spirit AeroSystems, Inc. | | | | | | | | |
4.60%, 6/15/28 (a) | | | 360,000 | | | | 344,325 | |
144A,9.375%, 11/30/29 | | | 475,000 | | | | 515,984 | |
144A,9.75%, 11/15/30 | | | 605,000 | | | | 677,838 | |
TransDigm, Inc. | | | | | | | | |
5.50%, 11/15/27 | | | 1,197,000 | | | | 1,190,776 | |
144A,6.75%, 8/15/28 | | | 939,000 | | | | 966,605 | |
4.625%, 1/15/29 | | | 545,000 | | | | 524,745 | |
See Notes to Financial Statements.
DBX ETF Trust | 21
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,6.375%, 3/1/29 | | | 1,250,000 | | | | 1,289,764 | |
4.875%, 5/1/29 | | | 336,000 | | | | 325,201 | |
144A,6.875%, 12/15/30 | | | 658,000 | | | | 687,772 | |
144A,7.125%, 12/1/31 | | | 450,000 | | | | 475,771 | |
144A,6.625%, 3/1/32 | | | 992,000 | | | | 1,032,890 | |
| | |
(Cost $10,285,645) | | | | | | | 10,546,914 | |
| | |
Building Materials — 2.2% | | | | | | | | |
Builders FirstSource, Inc. | | | | | | | | |
144A,5.00%, 3/1/30 | | | 282,000 | | | | 274,382 | |
144A,4.25%, 2/1/32 | | | 674,000 | | | | 616,358 | |
144A,6.375%, 6/15/32 | | | 367,000 | | | | 378,297 | |
144A,6.375%, 3/1/34 | | | 516,000 | | | | 530,400 | |
Standard Industries, Inc. | | | | | | | | |
144A,5.00%, 2/15/27 | | | 440,000 | | | | 435,145 | |
144A,4.75%, 1/15/28 | | | 531,000 | | | | 516,887 | |
144A,4.375%, 7/15/30 | | | 831,000 | | | | 777,791 | |
144A,3.375%, 1/15/31 | | | 560,000 | | | | 490,291 | |
Summit Materials LLC / Summit Materials Finance Corp. | | | | | | | | |
144A,5.25%, 1/15/29 | | | 354,000 | | | | 350,724 | |
144A,7.25%, 1/15/31 | | | 415,000 | | | | 438,807 | |
| | |
(Cost $4,701,687) | | | | | | | 4,809,082 | |
|
Electrical Components & Equipment — 0.7% | |
WESCO Distribution, Inc. | | | | | | | | |
144A,7.25%, 6/15/28 | | | 675,000 | | | | 693,048 | |
144A,6.375%, 3/15/29 | | | 470,000 | | | | 482,859 | |
144A,6.625%, 3/15/32 | | | 440,000 | | | | 453,835 | |
| | |
(Cost $1,613,453) | | | | | | | 1,629,742 | |
| | |
Electronics — 0.7% | | | | | | | | |
Sensata Technologies BV | | | | | | | | |
144A,4.00%, 4/15/29 | | | 513,000 | | | | 483,434 | |
144A,5.875%, 9/1/30 | | | 259,000 | | | | 259,579 | |
Sensata Technologies, Inc. | | | | | | | | |
144A,4.375%, 2/15/30 | | | 231,000 | | | | 218,360 | |
144A,3.75%, 2/15/31 | | | 390,000 | | | | 352,537 | |
144A,6.625%, 7/15/32 | | | 260,000 | | | | 269,189 | |
| | |
(Cost $1,659,584) | | | | | | | 1,583,099 | |
| | |
Engineering & Construction —0.4% | | | | | | | | |
Arcosa, Inc. | | | | | | | | |
144A,4.375%, 4/15/29 | | | 210,000 | | | | 199,300 | |
144A,6.875%, 8/15/32 | | | 310,000 | | | | 323,348 | |
Fluor Corp.,4.25%, 9/15/28 | | | 298,000 | | | | 289,298 | |
| | |
(Cost $804,755) | | | | | | | 811,946 | |
| | |
Environmental Control — 1.2% | | | | | | | | |
Clean Harbors, Inc.,144A,6.375%, 2/1/31 | | | 263,000 | | | | 268,952 | |
GFL Environmental, Inc. | | | | | | | | |
144A,5.125%, 12/15/26 | | | 267,000 | | | | 266,215 | |
144A,4.00%, 8/1/28 | | | 385,000 | | | | 367,357 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,3.50%, 9/1/28 | | | 385,000 | | | | 364,382 | |
144A,4.75%, 6/15/29 | | | 385,000 | | | | 372,862 | |
144A,4.375%, 8/15/29 | | | 292,000 | | | | 277,495 | |
144A,6.75%, 1/15/31 | | | 510,000 | | | | 533,372 | |
Madison IAQ LLC,144A,4.125%, 6/30/28 | | | 352,000 | | | | 335,225 | |
| | |
(Cost $2,763,373) | | | | | | | 2,785,860 | |
| | |
Miscellaneous Manufacturing — 0.1% | | | | | | | | |
Hillenbrand, Inc.,6.25%, 2/15/29 | | | | | | | | |
| | |
(Cost $250,459) | | | 250,000 | | | | 253,484 | |
| | |
Packaging & Containers — 3.0% | | | | | | | | |
Ball Corp. | | | | | | | | |
6.875%, 3/15/28 | | | 385,000 | | | | 398,881 | |
6.00%, 6/15/29 | | | 513,000 | | | | 528,493 | |
2.875%, 8/15/30 | | | 671,000 | | | | 593,591 | |
3.125%, 9/15/31 | | | 435,000 | | | | 380,735 | |
Berry Global, Inc.,144A,5.625%, 7/15/27 (a) | | | 257,000 | | | | 257,305 | |
Crown Americas LLC,5.25%, 4/1/30 (a) | | | 268,000 | | | | 268,064 | |
Graphic Packaging International LLC | | | | | | | | |
144A,3.50%, 3/15/28 | | | 236,000 | | | | 223,332 | |
144A,3.75%, 2/1/30 | | | 209,000 | | | | 193,456 | |
144A,6.375%, 7/15/32 | | | 255,000 | | | | 261,038 | |
Mauser Packaging Solutions Holding Co.,144A,7.875%, 4/15/27 | | | 1,401,000 | | | | 1,450,287 | |
OI European Group BV,144A,4.75%, 2/15/30 | | | 205,000 | | | | 192,856 | |
Pactiv Evergreen Group Issuer, Inc. /Pactiv Evergreen Group Issuer LLC,144A,4.00%, 10/15/27 (a) | | | 518,000 | | | | 495,090 | |
Sealed Air Corp. | | | | | | | | |
144A,4.00%, 12/1/27 | | | 218,000 | | | | 210,407 | |
144A,6.125%, 2/1/28 | | | 408,000 | | | | 414,841 | |
144A,5.00%, 4/15/29 | | | 206,000 | | | | 203,067 | |
144A,7.25%, 2/15/31 | | | 218,000 | | | | 229,367 | |
Silgan Holdings, Inc.,4.125%, 2/1/28 | | | 293,000 | | | | 283,319 | |
| | |
(Cost $6,674,233) | | | | | | | 6,584,129 | |
| | |
Trucking & Leasing — 0.7% | | | | | | | | |
Fortress Transportation and Infrastructure Investors LLC | | | | | | | | |
144A,5.50%, 5/1/28 | | | 505,000 | | | | 502,199 | |
144A,7.875%, 12/1/30 | | | 257,000 | | | | 276,047 | |
144A,7.00%, 5/1/31 | | | 368,000 | | | | 385,987 | |
144A,7.00%, 6/15/32 | | | 410,000 | | | | 429,199 | |
| | |
(Cost $1,522,798) | | | | | | | 1,593,432 | |
See Notes to Financial Statements.
22 | DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Technology — 6.3% | | | | | | | | |
Computers — 1.8% | | | | | | | | |
NCR Voyix Corp. | | | | | | | | |
144A,5.00%, 10/1/28 (a) | | | 334,000 | | | | 330,365 | |
144A,5.125%, 4/15/29 | | | 631,000 | | | | 619,277 | |
144A,5.25%, 10/1/30 | | | 224,000 | | | | 218,538 | |
Seagate HDD Cayman | | | | | | | | |
4.875%, 6/1/27 | | | 259,000 | | | | 258,048 | |
4.091%, 6/1/29 | | | 238,000 | | | | 226,731 | |
8.25%, 12/15/29 | | | 257,000 | | | | 278,841 | |
8.50%, 7/15/31 | | | 257,000 | | | | 279,695 | |
9.625%, 12/1/32 | | | 399,600 | | | | 461,082 | |
Western Digital Corp.,4.75%, 2/15/26 | | | 1,190,000 | | | | 1,180,009 | |
| | |
(Cost $3,739,055) | | | | | | | 3,852,586 | |
| | |
Semiconductors — 0.9% | | | | | | | | |
Entegris, Inc. | | | | | | | | |
144A,4.375%, 4/15/28 | | | 205,000 | | | | 197,086 | |
144A,4.75%, 4/15/29 | | | 813,000 | | | | 798,486 | |
144A,3.625%, 5/1/29 | | | 209,000 | | | | 192,584 | |
144A,5.95%, 6/15/30 | | | 459,000 | | | | 465,518 | |
ON Semiconductor Corp.,144A,3.875%, 9/1/28 | | | 369,000 | | | | 350,914 | |
| | |
(Cost $1,955,854) | | | | | | | 2,004,588 | |
| | |
Software — 3.6% | | | | | | | | |
Central Parent, Inc. / CDK Global, Inc.,144A,7.25%, 6/15/29 | | | 390,000 | | | | 392,238 | |
Clarivate Science Holdings Corp.,144A,3.875%, 7/1/28 | | | 483,000 | | | | 459,532 | |
Cloud Software Group, Inc.,144A,8.25%, 6/30/32 | | | 924,000 | | | | 968,036 | |
Fair Isaac Corp. | | | | | | | | |
144A,5.25%, 5/15/26 | | | 205,000 | | | | 205,298 | |
144A,4.00%, 6/15/28 | | | 462,000 | | | | 441,615 | |
Open Text Corp. | | | | | | | | |
144A,3.875%, 2/15/28 | | | 462,000 | | | | 438,341 | |
144A,3.875%, 12/1/29 | | | 436,000 | | | | 402,341 | |
Open Text Holdings, Inc. | | | | | | | | |
144A,4.125%, 2/15/30 | | | 461,000 | | | | 428,504 | |
144A,4.125%, 12/1/31 | | | 329,000 | | | | 299,834 | |
PTC, Inc.,144A,4.00%, 2/15/28 | | | 257,000 | | | | 248,631 | |
ROBLOX Corp.,144A,3.875%, 5/1/30 | | | 522,000 | | | | 481,275 | |
SS&C Technologies, Inc. | | | | | | | | |
144A,5.50%, 9/30/27 | | | 1,019,000 | | | | 1,018,829 | |
144A,6.50%, 6/1/32 | | | 390,000 | | | | 402,860 | |
Twilio, Inc. | | | | | | | | |
3.625%, 3/15/29 | | | 257,000 | | | | 237,635 | |
3.875%, 3/15/31 | | | 263,000 | | | | 241,532 | |
UKG, Inc.,144A,6.875%, 2/1/31 | | | 1,293,000 | | | | 1,338,581 | |
| | |
(Cost $7,998,274) | | | | | | | 8,005,082 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Utilities — 3.1% | | | | | | | | |
Electric — 3.1% | | | | | | | | |
Calpine Corp. | | | | | | | | |
144A,5.25%, 6/1/26 | | | 216,000 | | | | 215,454 | |
144A,4.50%, 2/15/28 | | | 622,000 | | | | 603,769 | |
144A,3.75%, 3/1/31 | | | 478,000 | | | | 436,918 | |
Clearway Energy Operating LLC | | | | | | | | |
144A,4.75%, 3/15/28 | | | 416,000 | | | | 404,518 | |
144A,3.75%, 2/15/31 | | | 492,000 | | | | 446,791 | |
NRG Energy, Inc.,5.75%, 1/15/28 | | | 421,000 | | | | 421,838 | |
PG&E Corp.,5.00%, 7/1/28 | | | 515,000 | | | | 504,846 | |
Vistra Operations Co. LLC | | | | | | | | |
144A,5.50%, 9/1/26 | | | 518,000 | | | | 517,858 | |
144A,5.625%, 2/15/27 | | | 687,000 | | | | 686,448 | |
144A,5.00%, 7/31/27 | | | 687,000 | | | | 680,467 | |
144A,4.375%, 5/1/29 | | | 647,000 | | | | 619,843 | |
144A,7.75%, 10/15/31 | | | 735,000 | | | | 782,595 | |
144A,6.875%, 4/15/32 | | | 519,000 | | | | 539,419 | |
| | |
(Cost $6,800,926) | | | | | | | 6,860,764 | |
| | |
TOTAL CORPORATE BONDS | | | | | | | | |
| | |
(Cost $215,891,183) | | | | | | | 216,334,395 | |
| | |
| | | Number
of Shares | | | | |
| | |
SECURITIES LENDING COLLATERAL — 2.0% | | | | | | | | |
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (b)(c) | | | | | | | | |
| | |
(Cost $4,418,701) | | | 4,418,701 | | | | 4,418,701 | |
| | |
CASH EQUIVALENTS — 1.5% | | | | | | | | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (b) | | | | | | | | |
| | |
(Cost $3,352,412) | | | 3,352,412 | | | | 3,352,412 | |
| | |
TOTAL INVESTMENTS — 101.3% | | | | | | | | |
| | |
(Cost $223,662,296) | | | | | | | 224,105,508 | |
| | |
Other assets and liabilities, net — (1.3%) | | | | | | | (2,981,837 | ) |
| | |
NET ASSETS — 100.0% | | | | | | | 221,123,671 | |
See Notes to Financial Statements.
DBX ETF Trust | 23
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
August 31, 2024
A summary of the Fund’s transactions with affiliated investments during the year ended August 31, 2024 is as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Value ($) at 8/31/2023 | | | Purchases Cost ($) | | Sales
Proceeds ($) | | Net Realized Gain/(Loss)
($) | | | Net Change in Unrealized Appreciation (Depreciation) ($) | | | Income ($) | | | Capital Gain Distributions ($) | | | Number of
Shares at
8/31/2024 | | | Value ($) at
8/31/2024 | |
| | SECURITIES LENDING COLLATERAL —2.0% | |
| | DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (b)(c) | |
| | — | | | | 4,418,701 | (d) | | | — | | | | — | | | | — | | | | 18,028 | | | | — | | | | 4,418,701 | | | | 4,418,701 | |
|
| | CASH EQUIVALENTS —1.5% | |
| | DWS Government Money Market Series “Institutional Shares”, 5.24% (b) | |
| | 3,360,237 | | | | 34,460,894 | | | | (34,468,719 | ) | | | — | | | | — | | | | 124,292 | | | | — | | | | 3,352,412 | | | | 3,352,412 | |
| | | | | | | | | |
| | 3,360,237 | | | | 38,879,595 | | | | (34,468,719 | ) | | | — | | | | — | | | | 142,320 | | | | — | | | | 7,771,113 | | | | 7,771,113 | |
| (a) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at August 31, 2024 amounted to $4,323,910, which is 2.0% 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. |
| (d) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the year ended August 31, 2024. |
| 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 August 31, 2024 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 (a) | | $ | — | | | $ | 216,334,395 | | | $ | — | | | $ | 216,334,395 | |
Short-Term Investments (a) | | | 7,771,113 | | | | — | | | | — | | | | 7,771,113 | |
| | | | |
TOTAL | | $ | 7,771,113 | | | $ | 216,334,395 | | | $ | — | | | $ | 224,105,508 | |
| (a) | See Schedule of Investments for additional detailed categorizations. |
See Notes to Financial Statements.
24 | DBX ETF Trust
Schedule of Investments
Xtrackers Risk Managed USD High Yield Strategy ETF
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ | |
| | |
EXCHANGE-TRADED FUNDS — 99.4% | | | | | | | | |
Xtrackers High Beta High Yield Bond ETF(a) | | | 22,359 | | | | 935,948 | |
Xtrackers USD High Yield Corporate Bond ETF(a) | | | 1,138,534 | | | | 41,533,720 | |
| | |
(Cost $44,034,163) | | | | | | | 42,469,668 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ | |
| | |
CASH EQUIVALENTS — 0.6% | | | | | | | | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (b) | | | | | | | | |
| | |
(Cost $260,490) | | | 260,490 | | | | 260,490 | |
| | |
TOTAL INVESTMENTS — 100.0% | | | | | | | | |
| | |
(Cost $44,294,653) | | | | | | | 42,730,158 | |
| | |
Other assets and liabilities, net — (0.0)% | | | | | | | (7,909 | ) |
NET ASSETS — 100.0% | | | | | | | 42,722,249 | |
A summary of the Fund’s transactions with affiliated investments during the year ended August 31, 2024 is as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Value ($) at 8/31/2023 | | Purchases Cost ($) | | | Sales Proceeds ($) | | | Net Realized Gain/(Loss) ($) | | | Net Change in Unrealized Appreciation (Depreciation) ($) | | | Income ($) | | | Capital Gain Distributions ($) | | | Number of Shares at 8/31/2024 | | | Value ($) at 8/31/2024 | |
|
EXCHANGE-TRADED FUNDS — 99.4% | |
Xtrackers High Beta High Yield Bond ETF (a) | |
967,365 | | | 49,752 | | | | (125,776 | ) | | | (2,292 | ) | | | 46,899 | | | | 74,577 | | | | — | | | | 22,359 | | | | 935,948 | |
Xtrackers USD High Yield Corporate Bond ETF (a) | |
42,650,693 | | | 2,209,616 | | | | (5,594,637 | ) | | | (13,324 | ) | | | 2,281,372 | | | | 2,637,542 | | | | — | | | | 1,138,534 | | | | 41,533,720 | |
SECURITIES LENDING COLLATERAL — 0.0% | |
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (b)(c) | |
6,535,150 | | | — | | | | (6,535,150 | ) (d) | | | — | | | | — | | | | 4,259 | | | | — | | | | — | | | | — | |
CASH EQUIVALENTS — 0.6% | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (b) | |
311,422 | | | 197,825 | | | | (248,757 | ) | | | — | | | | — | | | | 15,069 | | | | — | | | | 260,490 | | | | 260,490 | |
| | | | | | | | | |
50,464,630 | | | 2,457,193 | | | | (12,504,320 | ) | | | (15,616 | ) | | | 2,328,271 | | | | 2,731,447 | | | | — | | | | 1,421,383 | | | | 42,730,158 | |
| (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. |
| (c) | Represents collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. |
| (d) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the year ended August 31, 2024. |
See Notes to Financial Statements.
DBX ETF Trust | 25
Schedule of Investments
Xtrackers Risk Managed USD High Yield Strategy ETF (Continued)
August 31, 2024
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of August 31, 2024 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 | | $ | 42,469,668 | | | $ | — | | | $ | — | | | $ | 42,469,668 | |
Short-Term Investments (a) | | | 260,490 | | | | — | | | | — | | | | 260,490 | |
| | | | |
TOTAL | | $ | 42,730,158 | | | $ | — | | | $ | — | | | $ | 42,730,158 | |
| (a) | See Schedule of Investments for additional detailed categorizations. |
See Notes to Financial Statements.
26 | DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
CORPORATE BONDS — 97.7% | | | | | | | | |
Basic Materials — 4.5% | | | | | | | | |
Chemicals — 2.3% | | | | | | | | |
ASP Unifrax Holdings, Inc.,144A,5.25%, 9/30/28 | | | 137,000 | | | | 71,038 | |
Avient Corp.,144A,5.75%, 5/15/25 | | | 116,000 | | | | 116,176 | |
Axalta Coating Systems LLC,144A,3.375%, 2/15/29 | | | 104,000 | | | | 96,529 | |
Chemours Co. | | | | | | | | |
5.375%, 5/15/27 | | | 85,000 | | | | 82,666 | |
144A,5.75%, 11/15/28 | | | 140,000 | | | | 131,349 | |
Consolidated Energy Finance SA,144A,5.625%, 10/15/28 | | | 93,000 | | | | 75,522 | |
INEOS Finance PLC | | | | | | | | |
144A,6.75%, 5/15/28 (a) | | | 76,000 | | | | 76,621 | |
144A,7.50%, 4/15/29 | | | 129,000 | | | | 133,674 | |
INEOS Quattro Finance 2 PLC,144A,9.625%, 3/15/29 | | | 50,000 | | | | 53,993 | |
Methanex Corp.,5.125%, 10/15/27 | | | 131,000 | | | | 129,028 | |
NOVA Chemicals Corp. | | | | | | | | |
144A,5.00%, 5/1/25 | | | 47,000 | | | | 46,785 | |
144A,5.25%, 6/1/27 | | | 187,000 | | | | 184,787 | |
144A,8.50%, 11/15/28 | | | 74,000 | | | | 78,987 | |
144A,4.25%, 5/15/29 (a) | | | 110,000 | | | | 100,458 | |
Olin Corp. | | | | | | | | |
5.125%, 9/15/27 | | | 98,000 | | | | 96,893 | |
5.625%, 8/1/29 | | | 110,000 | | | | 109,772 | |
SCIH Salt Holdings, Inc. | | | | | | | | |
144A,4.875%, 5/1/28 | | | 180,000 | | | | 171,706 | |
144A,6.625%, 5/1/29 | | | 124,000 | | | | 118,788 | |
Tronox, Inc.,144A,4.625%, 3/15/29 | | | 185,000 | | | | 168,774 | |
WR Grace Holdings LLC | | | | | | | | |
144A,4.875%, 6/15/27 | | | 140,000 | | | | 137,081 | |
144A,5.625%, 8/15/29 | | | 200,000 | | | | 185,632 | |
| | |
(Cost $2,346,170) | | | | | | | 2,366,259 | |
| | |
Forest Products & Paper — 0.1% | | | | | | | | |
Mercer International, Inc.,5.125%, 2/1/29 | | | | | | | | |
| | |
(Cost $136,477) | | | 156,000 | | | | 127,682 | |
| | |
Iron/Steel — 0.6% | | | | | | | | |
Cleveland-Cliffs, Inc.,5.875%, 6/1/27 | | | 95,000 | | | | 94,935 | |
Mineral Resources Ltd. | | | | | | | | |
144A,8.125%, 5/1/27 | | | 123,000 | | | | 124,159 | |
144A,8.00%, 11/1/27 | | | 111,000 | | | | 112,870 | |
144A,9.25%, 10/1/28 | | | 195,000 | | | | 206,251 | |
United States Steel Corp.,6.875%, 3/1/29 | | | 84,000 | | | | 84,786 | |
| | |
(Cost $611,471) | | | | | | | 623,001 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Mining — 1.5% | | | | | | | | |
Alcoa Nederland Holding BV | | | | | | | | |
144A,5.50%, 12/15/27 | | | 140,000 | | | | 139,824 | |
144A,6.125%, 5/15/28 | | | 89,000 | | | | 90,228 | |
144A,4.125%, 3/31/29 | | | 90,000 | | | | 85,836 | |
First Quantum Minerals Ltd. | | | | | | | | |
144A,6.875%, 10/15/27 | | | 267,000 | | | | 265,049 | |
144A,9.375%, 3/1/29 | | | 290,000 | | | | 308,924 | |
FMG Resources August 2006 Pty Ltd.,144A,4.50%, 9/15/27 | | | 113,000 | | | | 109,422 | |
Hudbay Minerals, Inc. | | | | | | | | |
144A,4.50%, 4/1/26 | | | 85,000 | | | | 84,014 | |
144A,6.125%, 4/1/29 | | | 120,000 | | | | 121,230 | |
Kaiser Aluminum Corp.,144A,4.625%, 3/1/28 | | | 88,000 | | | | 83,663 | |
Nexa Resources SA,144A,6.50%, 1/18/28 | | | 71,000 | | | | 73,741 | |
Novelis Corp.,144A,3.25%, 11/15/26 | | | 133,000 | | | | 128,150 | |
Vedanta Resources Finance II PLC,144A,9.25%, 4/23/26 | | | 100,000 | | | | 99,279 | |
| | |
(Cost $1,534,919) | | | | | | | 1,589,360 | |
| | |
Communications — 18.1% | | | | | | | | |
Advertising — 1.1% | | | | | | | | |
Clear Channel Outdoor Holdings, Inc. | | | | | | | | |
144A,5.125%, 8/15/27 | | | 222,000 | | | | 217,054 | |
144A,7.75%, 4/15/28 | | | 173,000 | | | | 150,953 | |
144A,9.00%, 9/15/28 (a) | | | 133,000 | | | | 141,498 | |
144A,7.50%, 6/1/29 | | | 178,000 | | | | 150,226 | |
Lamar Media Corp.,3.75%, 2/15/28 | | | 106,000 | | | | 101,659 | |
Outfront Media Capital LLC / Outfront Media Capital Corp. | | | | | | | | |
144A,5.00%, 8/15/27 | | | 129,000 | | | | 128,212 | |
144A,4.25%, 1/15/29 | | | 85,000 | | | | 80,304 | |
Stagwell Global LLC,144A,5.625%, 8/15/29 | | | 190,000 | | | | 180,281 | |
| | |
(Cost $1,106,356) | | | | | | | 1,150,187 | |
| | |
Internet — 1.7% | | | | | | | | |
Cogent Communications Group LLC | | | | | | | | |
144A,3.50%, 5/1/26 | | | 89,000 | | | | 86,207 | |
144A,7.00%, 6/15/27 | | | 80,000 | | | | 81,051 | |
Gen Digital, Inc. | | | | | | | | |
144A,5.00%, 4/15/25 | | | 195,000 | | | | 194,420 | |
144A,6.75%, 9/30/27 | | | 160,000 | | | | 164,013 | |
Go Daddy Operating Co. LLC / GD Finance Co., Inc. | | | | | | | | |
144A,5.25%, 12/1/27 | | | 107,000 | | | | 106,746 | |
144A,3.50%, 3/1/29 | | | 147,000 | | | | 136,808 | |
Match Group Holdings II LLC | | | | | | | | |
144A,5.00%, 12/15/27 | | | 80,000 | | | | 78,768 | |
144A,4.625%, 6/1/28 | | | 89,000 | | | | 85,657 | |
See Notes to Financial Statements.
DBX ETF Trust | 27
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Newfold Digital Holdings Group, Inc.,144A,11.75%, 10/15/28 | | | 86,000 | | | | 85,504 | |
Rakuten Group, Inc. | | | | | | | | |
144A,11.25%, 2/15/27 | | | 320,000 | | | | 347,885 | |
144A,9.75%, 4/15/29 | | | 343,000 | | | | 369,968 | |
| | |
(Cost $1,682,444) | | | | | | | 1,737,027 | |
| | |
Media — 9.7% | | | | | | | | |
AMC Networks, Inc. | | | | | | | | |
144A,10.25%, 1/15/29 | | | 150,000 | | | | 150,881 | |
4.25%, 2/15/29 (a) | | | 169,000 | | | | 120,022 | |
CCO Holdings LLC / CCO Holdings Capital Corp. | | | | | | | | |
144A,5.50%, 5/1/26 | | | 130,000 | | | | 129,790 | |
144A,5.125%, 5/1/27 | | | 577,000 | | | | 565,959 | |
144A,5.00%, 2/1/28 | | | 434,000 | | | | 418,541 | |
144A,5.375%, 6/1/29 | | | 253,000 | | | | 240,226 | |
CSC Holdings LLC | | | | | | | | |
144A,5.50%, 4/15/27 (a) | | | 233,000 | | | | 190,993 | |
144A,5.375%, 2/1/28 | | | 169,000 | | | | 130,119 | |
144A,7.50%, 4/1/28 | | | 183,000 | | | | 94,683 | |
144A,11.25%, 5/15/28 | | | 175,000 | | | | 155,690 | |
144A,11.75%, 1/31/29 | | | 353,000 | | | | 311,922 | |
144A,6.50%, 2/1/29 | | | 303,000 | | | | 229,002 | |
Directv Financing LLC / Directv Financing Co.-Obligor, Inc.,144A,5.875%, 8/15/27 | | | 640,000 | | | | 620,335 | |
DISH DBS Corp. | | | | | | | | |
5.875%, 11/15/24 | | | 353,000 | | | | 344,257 | |
7.75%, 7/1/26 | | | 345,000 | | | | 232,458 | |
144A,5.25%, 12/1/26 | | | 489,000 | | | | 419,807 | |
7.375%, 7/1/28 | | | 171,000 | | | | 88,175 | |
144A,5.75%, 12/1/28 | | | 430,000 | | | | 331,652 | |
5.125%, 6/1/29 | | | 260,000 | | | | 118,655 | |
DISH Network Corp.,144A,11.75%, 11/15/27 | | | 602,000 | | | | 612,616 | |
Gray Television, Inc. | | | | | | | | |
144A,7.00%, 5/15/27 (a) | | | 119,000 | | | | 114,886 | |
144A,10.50%, 7/15/29 | | | 222,000 | | | | 228,058 | |
iHeartCommunications, Inc. | | | | | | | | |
6.375%, 5/1/26 (a) | | | 143,000 | | | | 120,242 | |
8.375%, 5/1/27 (a) | | | 157,000 | | | | 71,641 | |
144A,5.25%, 8/15/27 | | | 132,000 | | | | 82,701 | |
144A,4.75%, 1/15/28 | | | 84,000 | | | | 48,281 | |
LCPR Senior Secured Financing DAC | | | | | | | | |
144A,6.75%, 10/15/27 | | | 206,000 | | | | 188,550 | |
144A,5.125%, 7/15/29 (a) | | | 146,000 | | | | 118,062 | |
McGraw-Hill Education, Inc. | | | | | | | | |
144A,5.75%, 8/1/28 | | | 147,000 | | | | 144,223 | |
144A,8.00%, 8/1/29 | | | 110,000 | | | | 109,652 | |
News Corp.,144A,3.875%, 5/15/29 | | | 178,000 | | | | 167,564 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Nexstar Media, Inc. | | | | | | | | |
144A,5.625%, 7/15/27 | | | 280,000 | | | | 273,861 | |
144A,4.75%, 11/1/28 (a) | | | 178,000 | | | | 166,504 | |
Radiate Holdco LLC / Radiate Finance, Inc. | | | | | | | | |
144A,4.50%, 9/15/26 | | | 156,000 | | | | 123,773 | |
144A,6.50%, 9/15/28 | | | 174,000 | | | | 93,780 | |
Sirius XM Radio, Inc. | | | | | | | | |
144A,3.125%, 9/1/26 | | | 160,000 | | | | 153,176 | |
144A,5.00%, 8/1/27 | | | 263,000 | | | | 257,346 | |
144A,4.00%, 7/15/28 | | | 367,000 | | | | 344,116 | |
144A,5.50%, 7/1/29 | | | 200,000 | | | | 194,833 | |
Sunrise HoldCo IV BV,144A,5.50%, 1/15/28 | | | 55,000 | | | | 54,314 | |
TEGNA, Inc. | | | | | | | | |
144A,4.75%, 3/15/26 | | | 82,000 | | | | 81,053 | |
4.625%, 3/15/28 | | | 178,000 | | | | 167,972 | |
Telenet Finance Luxembourg Notes SARL,144A,5.50%, 3/1/28 | | | 200,000 | | | | 194,115 | |
Univision Communications, Inc. | | | | | | | | |
144A,6.625%, 6/1/27 | | | 267,000 | | | | 264,516 | |
144A,8.00%, 8/15/28 | | | 255,000 | | | | 258,199 | |
144A,4.50%, 5/1/29 | | | 187,000 | | | | 164,314 | |
Virgin Media Secured Finance PLC,144A,5.50%, 5/15/29 | | | 253,000 | | | | 240,013 | |
VTR Finance NV,144A,6.375%, 7/15/28 | | | 86,000 | | | | 79,173 | |
Ziggo Bond Co. BV,144A,6.00%, 1/15/27 | | | 66,000 | | | | 65,852 | |
| | |
(Cost $10,440,141) | | | | | | | 10,076,553 | |
| | |
Telecommunications — 5.6% | | | | | | | | |
Altice Financing SA | | | | | | | | |
144A,5.00%, 1/15/28 | | | 213,000 | | | | 171,344 | |
144A,5.75%, 8/15/29 | | | 355,000 | | | | 273,870 | |
Altice France Holding SA | | | | | | | | |
144A,10.50%, 5/15/27 | | | 274,000 | | | | 108,705 | |
144A,6.00%, 2/15/28 | | | 188,000 | | | | 61,711 | |
Altice France SA | | | | | | | | |
144A,8.125%, 2/1/27 | | | 302,000 | | | | 243,236 | |
144A,5.50%, 1/15/28 | | | 195,000 | | | | 139,008 | |
144A,5.125%, 1/15/29 | | | 84,000 | | | | 58,426 | |
144A,5.125%, 7/15/29 | | | 432,000 | | | | 301,935 | |
C&W Senior Finance Ltd.,144A,6.875%, 9/15/27 | | | 217,000 | | | | 213,865 | |
CommScope LLC | | | | | | | | |
144A,6.00%, 3/1/26 | | | 248,000 | | | | 239,010 | |
144A,8.25%, 3/1/27 | | | 142,000 | | | | 118,810 | |
144A,7.125%, 7/1/28 | | | 114,000 | | | | 84,108 | |
CommScope Technologies LLC | | | | | | | | |
144A,6.00%, 6/15/25 | | | 233,000 | | | | 223,515 | |
144A,5.00%, 3/15/27 | | | 133,000 | | | | 101,960 | |
See Notes to Financial Statements.
28 | DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Connect Finco SARL / Connect US Finco LLC,144A,6.75%, 10/1/26 | | | 365,000 | | | | 362,386 | |
Consolidated Communications, Inc. | | | | | | | | |
144A,5.00%, 10/1/28 | | | 71,000 | | | | 62,314 | |
144A,6.50%, 10/1/28 | | | 132,000 | | | | 121,143 | |
Frontier Communications Holdings LLC | | | | | | | | |
144A,5.875%, 10/15/27 | | | 174,000 | | | | 173,522 | |
144A,5.00%, 5/1/28 | | | 272,000 | | | | 264,377 | |
144A,6.75%, 5/1/29 | | | 178,000 | | | | 171,858 | |
Hughes Satellite Systems Corp. | | | | | | | | |
5.25%, 8/1/26 | | | 133,000 | | | | 111,328 | |
6.625%, 8/1/26 | | | 133,000 | | | | 71,858 | |
Iliad Holding SASU | | | | | | | | |
144A,6.50%, 10/15/26 | | | 124,000 | | | | 125,193 | |
144A,7.00%, 10/15/28 | | | 152,000 | | | | 154,401 | |
Level 3 Financing, Inc. | | | | | | | | |
144A,4.25%, 7/1/28 | | | 80,000 | | | | 56,606 | |
144A,10.50%, 4/15/29 | | | 120,000 | | | | 129,236 | |
144A,4.875%, 6/15/29 (a) | | | 107,000 | | | | 83,733 | |
Lumen Technologies, Inc.,144A,4.50%, 1/15/29 | | | 70,000 | | | | 39,776 | |
Millicom International Cellular SA | | | | | | | | |
144A,5.125%, 1/15/28 | | | 63,900 | | | | 61,879 | |
144A,6.25%, 3/25/29 | | | 108,000 | | | | 106,929 | |
Sable International Finance Ltd.,144A,5.75%, 9/7/27 | | | 95,000 | | | | 94,074 | |
VEON Holdings BV,144A,3.375%, 11/25/27 | | | 212,000 | | | | 178,080 | |
Viasat, Inc. | | | | | | | | |
144A,5.625%, 9/15/25 | | | 96,000 | | | | 95,143 | |
144A,5.625%, 4/15/27 | | | 107,000 | | | | 101,649 | |
144A,6.50%, 7/15/28 (a) | | | 67,000 | | | | 55,973 | |
Windstream Escrow LLC / Windstream Escrow Finance Corp.,144A,7.75%, 8/15/28 | | | 249,000 | | | | 243,318 | |
Zayo Group Holdings, Inc. | | | | | | | | |
144A,4.00%, 3/1/27 (a) | | | 263,000 | | | | 229,851 | |
144A,6.125%, 3/1/28 | | | 184,000 | | | | 142,437 | |
Zegona Finance PLC,144A,8.625%, 7/15/29 | | | 156,000 | | | | 162,347 | |
| | |
(Cost $5,863,967) | | | | | | | 5,738,914 | |
| | |
Consumer, Cyclical — 18.7% | | | | | | | | |
Airlines — 1.5% | | | | | | | | |
Air Canada,144A,3.875%, 8/15/26 | | | 223,000 | | | | 215,356 | |
American Airlines Group, Inc.,144A,3.75%, 3/1/25 | | | 65,000 | | | | 64,275 | |
American Airlines, Inc. | | | | | | | | |
144A,7.25%, 2/15/28 (a) | | | 133,000 | | | | 133,952 | |
144A,8.50%, 5/15/29 | | | 178,000 | | | | 185,171 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Hawaiian Brand Intellectual Property Ltd. / HawaiianMiles Loyalty Ltd.,144A,11.00%, 4/15/29 | | | 171,000 | | | | 174,196 | |
Spirit Loyalty Cayman Ltd. / Spirit IP Cayman Ltd. | | | | | | | | |
144A,8.00%, 9/20/25 | | | 103,000 | | | | 64,394 | |
144A,8.00%, 9/20/25 (a) | | | 89,000 | | | | 55,642 | |
United Airlines, Inc. | | | | | | | | |
144A,4.375%, 4/15/26 | | | 355,000 | | | | 346,789 | |
144A,4.625%, 4/15/29 | | | 333,000 | | | | 317,209 | |
| | |
(Cost $1,623,695) | | | | | | | 1,556,984 | |
| | |
Apparel — 0.2% | | | | | | | | |
Hanesbrands, Inc.,144A,4.875%, 5/15/26 | | | | | | | | |
| | |
(Cost $159,584) | | | 160,000 | | | | 159,045 | |
| | |
Auto Manufacturers — 0.3% | | | | | | | | |
Allison Transmission, Inc. | | | | | | | | |
144A,4.75%, 10/1/27 | | | 71,000 | | | | 69,567 | |
144A,5.875%, 6/1/29 | | | 90,000 | | | | 90,321 | |
Aston Martin Capital Holdings Ltd.,144A,10.00%, 3/31/29 | | | 181,000 | | | | 184,832 | |
| | |
(Cost $335,434) | | | | | | | 344,720 | |
| | |
Auto Parts & Equipment — 2.2% | | | | | | | | |
Adient Global Holdings Ltd. | | | | | | | | |
144A,4.875%, 8/15/26 | | | 122,000 | | | | 120,614 | |
144A,7.00%, 4/15/28 | | | 88,000 | | | | 90,524 | |
American Axle & Manufacturing, Inc. | | | | | | | | |
6.50%, 4/1/27 | | | 89,000 | | | | 89,525 | |
6.875%, 7/1/28 | | | 75,000 | | | | 75,432 | |
Clarios Global LP,144A,6.75%, 5/15/25 | | | 80,000 | | | | 80,264 | |
Clarios Global LP / Clarios US Finance Co. | | | | | | | | |
144A,6.25%, 5/15/26 | | | 150,000 | | | | 150,409 | |
144A,8.50%, 5/15/27 | | | 282,000 | | | | 285,296 | |
144A,6.75%, 5/15/28 | | | 133,000 | | | | 136,859 | |
Dana, Inc. | | | | | | | | |
5.375%, 11/15/27 | | | 76,000 | | | | 75,490 | |
5.625%, 6/15/28 | | | 68,000 | | | | 67,082 | |
Goodyear Tire & Rubber Co. | | | | | | | | |
9.50%, 5/31/25 | | | 75,000 | | | | 75,316 | |
5.00%, 5/31/26 | | | 154,000 | | | | 152,213 | |
4.875%, 3/15/27 | | | 119,000 | | | | 116,359 | |
5.00%, 7/15/29 (a) | | | 146,000 | | | | 135,724 | |
Tenneco, Inc.,144A,8.00%, 11/17/28 | | | 328,000 | | | | 306,969 | |
ZF North America Capital, Inc. | | | | | | | | |
144A,4.75%, 4/29/25 | | | 195,000 | | | | 193,745 | |
See Notes to Financial Statements.
DBX ETF Trust | 29
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,6.875%, 4/14/28 | | | 107,000 | | | | 110,637 | |
| | |
(Cost $2,212,719) | | | | | | | 2,262,458 | |
| | |
Distribution/Wholesale — 0.4% | | | | | | | | |
American Builders & Contractors Supply Co., Inc.,144A,4.00%, 1/15/28 | | | 129,000 | | | | 124,404 | |
H&E Equipment Services, Inc.,144A,3.875%, 12/15/28 | | | 204,000 | | | | 189,167 | |
Ritchie Bros Holdings, Inc.,144A,6.75%, 3/15/28 | | | 99,000 | | | | 101,977 | |
| | |
(Cost $408,843) | | | | | | | 415,548 | |
| | |
Entertainment — 2.5% | | | | | | | | |
Allwyn Entertainment Financing UK PLC,144A,7.875%, 4/30/29 | | | 130,000 | | | | 135,452 | |
AMC Entertainment Holdings, Inc.,144A,7.50%, 2/15/29 (a) | | | 169,000 | | | | 123,259 | |
Banijay Entertainment SAS,144A,8.125%, 5/1/29 | | | 71,000 | | | | 73,906 | |
Caesars Entertainment, Inc.,144A,8.125%, 7/1/27 | | | 315,000 | | | | 321,900 | |
Churchill Downs, Inc. | | | | | | | | |
144A,5.50%, 4/1/27 | | | 107,000 | | | | 106,780 | |
144A,4.75%, 1/15/28 | | | 124,000 | | | | 121,012 | |
Cinemark USA, Inc.,144A,5.25%, 7/15/28 (a) | | | 139,000 | | | | 136,665 | |
International Game Technology PLC | | | | | | | | |
144A,6.50%, 2/15/25 | | | 89,000 | | | | 89,095 | |
144A,4.125%, 4/15/26 | | | 107,000 | | | | 105,148 | |
144A,6.25%, 1/15/27 | | | 133,000 | | | | 135,281 | |
144A,5.25%, 1/15/29 | | | 133,000 | | | | 131,775 | |
Light & Wonder International, Inc.,144A,7.00%, 5/15/28 | | | 80,000 | | | | 80,953 | |
Live Nation Entertainment, Inc. | | | | | | | | |
144A,4.875%, 11/1/24 | | | 107,000 | | | | 106,844 | |
144A,6.50%, 5/15/27 | | | 193,000 | | | | 196,503 | |
144A,4.75%, 10/15/27 | | | 169,000 | | | | 164,753 | |
144A,3.75%, 1/15/28 | | | 89,000 | | | | 84,545 | |
Mohegan Tribal Gaming Authority | | | | | | | | |
144A,8.00%, 2/1/26 | | | 209,000 | | | | 202,813 | |
144A,13.25%, 12/15/27 | | | 93,000 | | | | 105,734 | |
Motion Bondco DAC,144A,6.625%, 11/15/27 | | | 73,000 | | | | 69,120 | |
Penn Entertainment, Inc. | | | | | | | | |
144A,5.625%, 1/15/27 | | | 68,000 | | | | 66,923 | |
144A,4.125%, 7/1/29 | | | 66,000 | | | | 59,159 | |
| | |
(Cost $2,574,745) | | | | | | | 2,617,620 | |
| | |
Food Service — 0.5% | | | | | | | | |
Aramark Services, Inc. | | | | | | | | |
144A,5.00%, 4/1/25 | | | 76,000 | | | | 75,923 | |
144A,5.00%, 2/1/28 | | | 204,000 | | | | 200,301 | |
TKC Holdings, Inc. | | | | | | | | |
144A,6.875%, 5/15/28 | | | 76,000 | | | | 75,724 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,10.50%, 5/15/29 | | | 110,000 | | | | 109,833 | |
| | |
(Cost $447,999) | | | | | | | 461,781 | |
| | |
Home Builders — 0.5% | | | | | | | | |
Brookfield Residential Properties, Inc. / Brookfield Residential US LLC,144A,6.25%, 9/15/27 | | | 110,000 | | | | 109,808 | |
Century Communities, Inc. | | | | | | | | |
6.75%, 6/1/27 | | | 90,000 | | | | 90,871 | |
144A,3.875%, 8/15/29 | | | 85,000 | | | | 78,822 | |
Mattamy Group Corp.,144A,5.25%, 12/15/27 | | | 89,000 | | | | 88,104 | |
Taylor Morrison Communities, Inc. | | | | | | | | |
144A,5.875%, 6/15/27 | | | 89,000 | | | | 90,148 | |
144A,5.75%, 1/15/28 | | | 80,000 | | | | 80,734 | |
| | |
(Cost $517,230) | | | | | | | 538,487 | |
| | |
Home Furnishings — 0.1% | | | | | | | | |
Tempur Sealy International, Inc.,144A,4.00%, 4/15/29 | | | | | | | | |
| | |
(Cost $127,467) | | | 142,000 | | | | 131,814 | |
| | |
Housewares — 0.5% | | | | | | | | |
Newell Brands, Inc. | | | | | | | | |
4.875%, 6/1/25 | | | 89,000 | | | | 88,783 | |
5.70%, 4/1/26 | | | 323,000 | | | | 322,200 | |
6.375%, 9/15/27 (a) | | | 89,000 | | | | 89,700 | |
| | |
(Cost $502,321) | | | | | | | 500,683 | |
| | |
Leisure Time — 3.7% | | | | | | | | |
Carnival Corp. | | | | | | | | |
144A,7.625%, 3/1/26 | | | 240,000 | | | | 242,592 | |
144A,5.75%, 3/1/27 | | | 466,000 | | | | 467,835 | |
144A,6.00%, 5/1/29 (a) | | | 355,000 | | | | 356,829 | |
Carnival Holdings Bermuda Ltd.,144A,10.375%, 5/1/28 | | | 361,000 | | | | 390,780 | |
Life Time, Inc. | | | | | | | | |
144A,5.75%, 1/15/26 | | | 113,000 | | | | 113,102 | |
144A,8.00%, 4/15/26 | | | 100,000 | | | | 101,574 | |
NCL Corp. Ltd. | | | | | | | | |
144A,3.625%, 12/15/24 | | | 84,000 | | | | 83,589 | |
144A,5.875%, 3/15/26 | | | 265,000 | | | | 265,021 | |
144A,5.875%, 2/15/27 | | | 178,000 | | | | 178,539 | |
144A,8.375%, 2/1/28 | | | 110,000 | | | | 116,179 | |
144A,8.125%, 1/15/29 | | | 150,000 | | | | 160,551 | |
144A,7.75%, 2/15/29 | | | 92,000 | | | | 98,240 | |
Royal Caribbean Cruises Ltd. | | | | | | | | |
144A,4.25%, 7/1/26 | | | 105,000 | | | | 103,351 | |
144A,5.50%, 8/31/26 | | | 178,000 | | | | 178,387 | |
144A,5.375%, 7/15/27 | | | 178,000 | | | | 178,463 | |
3.70%, 3/15/28 | | | 93,000 | | | | 89,062 | |
144A,5.50%, 4/1/28 | | | 247,000 | | | | 249,062 | |
See Notes to Financial Statements.
30 | DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Sabre GLBL, Inc. | | | | | | | | |
144A,8.625%, 6/1/27 | | | 150,000 | | | | 144,303 | |
144A,11.25%, 12/15/27 | | | 99,000 | | | | 100,337 | |
Viking Cruises Ltd. | | | | | | | | |
144A,5.875%, 9/15/27 | | | 155,000 | | | | 154,932 | |
144A,7.00%, 2/15/29 | | | 65,000 | | | | 65,888 | |
| | |
(Cost $3,699,335) | | | | | | | 3,838,616 | |
| | |
Lodging — 2.4% | | | | | | | | |
Boyd Gaming Corp.,4.75%, 12/1/27 | | | 178,000 | | | | 174,999 | |
Hilton Domestic Operating Co., Inc. | | | | | | | | |
144A,5.375%, 5/1/25 | | | 91,000 | | | | 90,975 | |
144A,5.75%, 5/1/28 | | | 89,000 | | | | 89,219 | |
144A,5.875%, 4/1/29 | | | 72,000 | | | | 73,423 | |
144A,3.75%, 5/1/29 | | | 142,000 | | | | 133,672 | |
Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand Vacations Borrower Esc,144A,5.00%, 6/1/29 | | | 151,000 | | | | 142,876 | |
Marriott Ownership Resorts, Inc.,144A,4.50%, 6/15/29 | | | 89,000 | | | | 82,858 | |
Melco Resorts Finance Ltd. | | | | | | | | |
144A,4.875%, 6/6/25 | | | 178,000 | | | | 175,995 | |
144A,5.25%, 4/26/26 | | | 85,000 | | | | 83,168 | |
144A,5.625%, 7/17/27 | | | 107,000 | | | | 103,160 | |
144A,5.75%, 7/21/28 | | | 151,000 | | | | 144,110 | |
MGM Resorts International | | | | | | | | |
5.75%, 6/15/25 | | | 101,000 | | | | 101,061 | |
4.625%, 9/1/26 | | | 71,000 | | | | 70,090 | |
5.50%, 4/15/27 | | | 120,000 | | | | 120,068 | |
4.75%, 10/15/28 | | | 133,000 | | | | 129,555 | |
Station Casinos LLC,144A,4.50%, 2/15/28 | | | 123,000 | | | | 118,128 | |
Studio City Finance Ltd. | | | | | | | | |
144A,6.50%, 1/15/28 | | | 82,000 | | | | 78,982 | |
144A,5.00%, 1/15/29 | | | 185,000 | | | | 165,411 | |
Travel + Leisure Co. | | | | | | | | |
144A,6.625%, 7/31/26 | | | 115,000 | | | | 117,119 | |
6.00%, 4/1/27 | | | 73,000 | | | | 73,244 | |
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp. | | | | | | | | |
144A,5.50%, 3/1/25 | | | 100,000 | | | | 99,981 | |
144A,5.25%, 5/15/27 | | | 160,000 | | | | 159,036 | |
| | |
(Cost $2,467,559) | | | | | | | 2,527,130 | |
| | |
Retail — 3.9% | | | | | | | | |
1011778 BC ULC / New Red Finance, Inc. | | | | | | | | |
144A,5.75%, 4/15/25 | | | 100,000 | | | | 99,928 | |
144A,3.875%, 1/15/28 | | | 269,000 | | | | 257,150 | |
144A,4.375%, 1/15/28 | | | 133,000 | | | | 128,981 | |
144A,3.50%, 2/15/29 | | | 120,000 | | | | 112,030 | |
144A,6.125%, 6/15/29 | | | 213,000 | | | | 217,691 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Asbury Automotive Group, Inc.,4.50%, 3/1/28 | | | 72,000 | | | | 69,871 | |
Bath & Body Works, Inc. | | | | | | | | |
5.25%, 2/1/28 | | | 79,000 | | | | 77,943 | |
7.50%, 6/15/29 (a) | | | 90,000 | | | | 93,381 | |
eG Global Finance PLC,144A,12.00%, 11/30/28 | | | 195,000 | | | | 212,926 | |
Ferrellgas LP / Ferrellgas Finance Corp. | | | | | | | | |
144A,5.375%, 4/1/26 | | | 113,000 | | | | 113,415 | |
144A,5.875%, 4/1/29 | | | 147,000 | | | | 137,941 | |
Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc.,144A,4.625%, 1/15/29 | | | 178,000 | | | | 166,643 | |
FirstCash, Inc.,144A,4.625%, 9/1/28 | | | 92,000 | | | | 88,223 | |
Group 1 Automotive, Inc.,144A,4.00%, 8/15/28 | | | 130,000 | | | | 123,081 | |
Lithia Motors, Inc. | | | | | | | | |
144A,4.625%, 12/15/27 | | | 75,000 | | | | 73,296 | |
144A,3.875%, 6/1/29 | | | 142,000 | | | | 131,831 | |
Macy’s Retail Holdings LLC,144A,5.875%, 4/1/29 | | | 89,000 | | | | 87,338 | |
Michaels Cos., Inc. | | | | | | | | |
144A,5.25%, 5/1/28 | | | 151,000 | | | | 118,717 | |
144A,7.875%, 5/1/29 | | | 193,000 | | | | 114,916 | |
NMG Holding Co, Inc. / Neiman Marcus Group LLC,144A,7.125%, 4/1/26 | | | 195,000 | | | | 197,576 | |
Penske Automotive Group, Inc. | | | | | | | | |
3.50%, 9/1/25 | | | 100,000 | | | | 98,520 | |
3.75%, 6/15/29 | | | 93,000 | | | | 86,637 | |
PetSmart, Inc. / PetSmart Finance Corp. | | | | | | | | |
144A,4.75%, 2/15/28 | | | 188,000 | | | | 180,038 | |
144A,7.75%, 2/15/29 | | | 204,000 | | | | 201,227 | |
QVC, Inc. | | | | | | | | |
4.45%, 2/15/25 | | | 99,000 | | | | 98,292 | |
4.75%, 2/15/27 | | | 103,000 | | | | 90,334 | |
4.375%, 9/1/28 | | | 89,000 | | | | 67,075 | |
Walgreens Boots Alliance, Inc. | | | | | | | | |
3.80%, 11/18/24 | | | 206,000 | | | | 205,061 | |
3.45%, 6/1/26 | | | 260,000 | | | | 247,615 | |
8.125%, 8/15/29 | | | 120,000 | | | | 120,314 | |
| | |
(Cost $3,971,995) | | | | | | | 4,017,991 | |
| | |
Consumer, Non-cyclical — 16.3% | | | | | | | | |
Agriculture — 0.3% | | | | | | | | |
Darling Ingredients, Inc.,144A,5.25%, 4/15/27 | | | 119,000 | | | | 118,807 | |
Vector Group Ltd. | | | | | | | | |
144A,10.50%, 11/1/26 | | | 54,000 | | | | 54,883 | |
See Notes to Financial Statements.
DBX ETF Trust | 31
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,5.75%, 2/1/29 | | | 163,000 | | | | 165,384 | |
| | |
(Cost $321,770) | | | | | | | 339,074 | |
| | |
Beverages — 0.1% | | | | | | | | |
Primo Water Holdings, Inc.,144A,4.375%, 4/30/29 | | | | | | | | |
| | |
(Cost $123,264) | | | 134,000 | | | | 127,350 | |
| | |
Commercial Services — 4.5% | | | | | | | | |
ADT Security Corp.,144A,4.125%, 8/1/29 | | | 170,000 | | | | 161,603 | |
Albion Financing 1 SARL / Aggreko Holdings, Inc.,144A,6.125%, 10/15/26 | | | 59,000 | | | | 58,870 | |
Albion Financing 2 SARL,144A,8.75%, 4/15/27 | | | 132,000 | | | | 135,073 | |
Allied Universal Holdco LLC / Allied Universal Finance Corp. | | | | | | | | |
144A,9.75%, 7/15/27 | | | 187,000 | | | | 187,787 | |
144A,6.00%, 6/1/29 (a) | | | 161,000 | | | | 143,439 | |
Allied Universal Holdco LLC / Allied Universal Finance Corp. / Atlas Luxco 4 SARL,144A,4.625%, 6/1/28 | | | 218,000 | | | | 202,421 | |
APX Group, Inc. | | | | | | | | |
144A,6.75%, 2/15/27 | | | 98,000 | | | | 98,293 | |
144A,5.75%, 7/15/29 | | | 142,000 | | | | 140,826 | |
Avis Budget Car Rental LLC / Avis Budget Finance, Inc. | | | | | | | | |
144A,5.75%, 7/15/27 | | | 71,000 | | | | 69,603 | |
144A,4.75%, 4/1/28 | | | 94,000 | | | | 87,262 | |
144A,5.375%, 3/1/29 (a) | | | 105,000 | | | | 96,301 | |
Block, Inc.,2.75%, 6/1/26 | | | 178,000 | | | | 171,122 | |
Brink’s Co. | | | | | | | | |
144A,4.625%, 10/15/27 | | | 107,000 | | | | 104,867 | |
144A,6.50%, 6/15/29 | | | 59,000 | | | | 61,104 | |
Garda World Security Corp. | | | | | | | | |
144A,4.625%, 2/15/27 | | | 96,000 | | | | 93,698 | |
144A,9.50%, 11/1/27 | | | 107,000 | | | | 108,062 | |
144A,7.75%, 2/15/28 | | | 71,000 | | | | 74,534 | |
144A,6.00%, 6/1/29 | | | 90,000 | | | | 85,226 | |
Herc Holdings, Inc. | | | | | | | | |
144A,5.50%, 7/15/27 | | | 213,000 | | | | 211,630 | |
144A,6.625%, 6/15/29 | | | 130,000 | | | | 133,796 | |
Hertz Corp. | | | | | | | | |
144A,4.625%, 12/1/26 (a) | | | 89,000 | | | | 69,950 | |
144A,12.625%, 7/15/29 (a) | | | 127,000 | | | | 135,387 | |
Prime Security Services Borrower LLC / Prime Finance, Inc. | | | | | | | | |
144A,5.75%, 4/15/26 | | | 240,000 | | | | 240,708 | |
144A,3.375%, 8/31/27 | | | 169,000 | | | | 160,179 | |
144A,6.25%, 1/15/28 | | | 231,000 | | | | 230,328 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
RR Donnelley & Sons Co. | | | | | | | | |
144A,9.50%, 8/1/29 | | | 182,000 | | | | 180,464 | |
144A,10.875%, 8/1/29 | | | 83,000 | | | | 81,303 | |
Service Corp. International | | | | | | | | |
4.625%, 12/15/27 | | | 98,000 | | | | 96,255 | |
5.125%, 6/1/29 | | | 130,000 | | | | 128,791 | |
Sotheby’s,144A,7.375%, 10/15/27 | | | 136,000 | | | | 130,553 | |
United Rentals North America, Inc. | | | | | | | | |
5.50%, 5/15/27 | | | 87,000 | | | | 87,340 | |
3.875%, 11/15/27 | | | 133,000 | | | | 128,488 | |
4.875%, 1/15/28 | | | 297,000 | | | | 293,190 | |
Williams Scotsman, Inc. | | | | | | | | |
144A,6.125%, 6/15/25 | | | 60,000 | | | | 59,900 | |
144A,4.625%, 8/15/28 | | | 89,000 | | | | 86,149 | |
144A,6.625%, 6/15/29 | | | 89,000 | | | | 91,972 | |
| | |
(Cost $4,556,203) | | | | | | | 4,626,474 | |
| | |
Cosmetics/Personal Care — 0.6% | | | | | | | | |
Coty, Inc.,144A,5.00%, 4/15/26 | | | 129,000 | | | | 128,714 | |
Edgewell Personal Care Co. | | | | | | | | |
144A,5.50%, 6/1/28 | | | 133,000 | | | | 132,059 | |
144A,4.125%, 4/1/29 | | | 89,000 | | | | 84,434 | |
Perrigo Finance Unlimited Co. | | | | | | | | |
3.90%, 12/15/24 | | | 85,000 | | | | 84,661 | |
4.375%, 3/15/26 | | | 105,000 | | | | 103,525 | |
Prestige Brands, Inc.,144A,5.125%, 1/15/28 | | | 72,000 | | | | 71,019 | |
| | |
(Cost $597,588) | | | | | | | 604,412 | |
| | |
Food — 1.9% | | | | | | | | |
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC | | | | | | | | |
144A,3.25%, 3/15/26 | | | 133,000 | | | | 128,589 | |
144A,7.50%, 3/15/26 | | | 70,000 | | | | 70,994 | |
144A,4.625%, 1/15/27 | | | 251,000 | | | | 245,491 | |
144A,5.875%, 2/15/28 | | | 130,000 | | | | 129,812 | |
144A,6.50%, 2/15/28 | | | 141,000 | | | | 142,970 | |
144A,3.50%, 3/15/29 | | | 240,000 | | | | 223,143 | |
B&G Foods, Inc. | | | | | | | | |
5.25%, 9/15/27 (a) | | | 92,000 | | | | 87,122 | |
144A,8.00%, 9/15/28 | | | 142,000 | | | | 147,806 | |
Lamb Weston Holdings, Inc.,144A,4.875%, 5/15/28 | | | 92,000 | | | | 90,630 | |
Performance Food Group, Inc. | | | | | | | | |
144A,5.50%, 10/15/27 | | | 188,000 | | | | 187,195 | |
144A,4.25%, 8/1/29 | | | 170,000 | | | | 160,622 | |
Post Holdings, Inc.,144A,5.625%, 1/15/28 | | | 66,000 | | | | 65,902 | |
US Foods, Inc. | | | | | | | | |
144A,6.875%, 9/15/28 | | | 92,000 | | | | 95,816 | |
See Notes to Financial Statements.
32 | DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,4.75%, 2/15/29 | | | 160,000 | | | | 156,193 | |
| | |
(Cost $1,899,686) | | | | | | | 1,932,285 | |
| | |
Healthcare-Products — 1.8% | | | | | | | | |
Avantor Funding, Inc.,144A,4.625%, 7/15/28 | | | 275,000 | | | | 267,902 | |
Bausch + Lomb Corp.,144A,8.375%, 10/1/28 | | | 229,000 | | | | 240,786 | |
Hologic, Inc. | | | | | | | | |
144A,4.625%, 2/1/28 | | | 117,000 | | | | 114,373 | |
144A,3.25%, 2/15/29 | | | 136,000 | | | | 125,715 | |
Medline Borrower LP,144A,3.875%, 4/1/29 | | | 770,000 | | | | 727,937 | |
Medline Borrower LP/Medline Co.-Issuer, Inc.,144A,6.25%, 4/1/29 | | | 267,000 | | | | 275,564 | |
Teleflex, Inc. | | | | | | | | |
4.625%, 11/15/27 | | | 89,000 | | | | 87,379 | |
144A,4.25%, 6/1/28 | | | 85,000 | | | | 81,769 | |
| | |
(Cost $1,852,768) | | | | | | | 1,921,425 | |
| | |
Healthcare-Services — 3.8% | | | | | | | | |
Catalent Pharma Solutions, Inc. | | | | | | | | |
144A,5.00%, 7/15/27 | | | 87,000 | | | | 86,607 | |
144A,3.125%, 2/15/29 | | | 98,000 | | | | 95,667 | |
Charles River Laboratories International, Inc. | | | | | | | | |
144A,4.25%, 5/1/28 | | | 91,000 | | | | 87,995 | |
144A,3.75%, 3/15/29 | | | 93,000 | | | | 87,213 | |
CHS/Community Health Systems, Inc. | | | | | | | | |
144A,5.625%, 3/15/27 | | | 338,000 | | | | 327,411 | |
144A,8.00%, 12/15/27 | | | 124,000 | | | | 124,333 | |
144A,6.875%, 4/1/28 | | | 106,000 | | | | 83,753 | |
144A,6.00%, 1/15/29 | | | 114,000 | | | | 108,408 | |
144A,6.875%, 4/15/29 | | | 211,000 | | | | 181,790 | |
Encompass Health Corp., 4.50%, 2/1/28 | | | 147,000 | | | | 143,832 | |
IQVIA, Inc. | | | | | | | | |
144A,5.00%, 10/15/26 | | | 205,000 | | | | 203,845 | |
144A,5.00%, 5/15/27 | | | 187,000 | | | | 185,799 | |
Legacy LifePoint Health LLC,144A,4.375%, 2/15/27 | | | 84,000 | | | | 82,030 | |
LifePoint Health, Inc., 144A,5.375%, 1/15/29 | | | 89,000 | | | | 83,166 | |
Molina Healthcare, Inc., 144A,4.375%, 6/15/28 | | | 139,000 | | | | 133,848 | |
MPH Acquisition Holdings LLC | | | | | | | | |
144A,5.50%, 9/1/28 | | | 187,000 | | | | 138,034 | |
144A,5.75%, 11/1/28 (a) | | | 168,000 | | | | 74,725 | |
Radiology Partners, Inc., 144A,4.275% Cash 3.50% PIK, PIK, 1/31/29 | | | 129,538 | | | | 124,680 | |
Select Medical Corp., 144A, 6.25%, 8/15/26 | | | 217,000 | | | | 218,228 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Tenet Healthcare Corp. | | | | | | | | |
6.25%, 2/1/27 | | | 267,000 | | | | 267,751 | |
5.125%, 11/1/27 | | | 187,000 | | | | 185,519 | |
4.625%, 6/15/28 | | | 107,000 | | | | 104,642 | |
6.125%, 10/1/28 | | | 444,000 | | | | 445,228 | |
4.25%, 6/1/29 | | | 249,000 | | | | 239,185 | |
US Acute Care Solutions LLC,144A,9.75%, 5/15/29 | | | 142,000 | | | | 145,445 | |
| | |
(Cost $3,922,966) | | | | | | | 3,959,134 | |
| | |
Pharmaceuticals — 3.3% | | | | | | | | |
AdaptHealth LLC,144A, 4.625%, 8/1/29 | | | 87,000 | | | | 79,474 | |
Bausch Health Americas, Inc. | | | | | | | | |
144A,9.25%, 4/1/26 | | | 104,000 | | | | 94,271 | |
144A,8.50%, 1/31/27 | | | 114,000 | | | | 84,939 | |
Bausch Health Cos., Inc. | | | | | | | | |
144A,5.50%, 11/1/25 | | | 283,000 | | | | 272,741 | |
144A,9.00%, 12/15/25 | | | 92,000 | | | | 85,288 | |
144A,6.125%, 2/1/27 | | | 178,000 | | | | 152,172 | |
144A,5.75%, 8/15/27 | | | 89,000 | | | | 72,187 | |
144A,5.00%, 1/30/28 | | | 77,000 | | | | 43,703 | |
144A,4.875%, 6/1/28 | | | 274,000 | | | | 204,997 | |
144A,11.00%, 9/30/28 | | | 304,000 | | | | 278,920 | |
144A,5.00%, 2/15/29 | | | 80,000 | | | | 41,691 | |
144A,6.25%, 2/15/29 (a) | | | 142,000 | | | | 75,438 | |
Cheplapharm Arzneimittel GmbH,144A,5.50%, 1/15/28 | | | 88,000 | | | | 84,600 | |
Grifols SA,144A, 4.75%, 10/15/28 (a) | | | 125,000 | | | | 118,850 | |
HLF Financing Sarl LLC / Herbalife International, Inc, 144A,12.25%, 4/15/29 | | | 142,000 | | | | 142,121 | |
HLF Financing Sarl LLC / Herbalife International, Inc., 144A,4.875%, 6/1/29 | | | 100,000 | | | | 63,250 | |
Jazz Securities DAC, 144A,4.375%, 1/15/29 | | | 267,000 | | | | 254,328 | |
Organon & Co. / Organon Foreign Debt Co.-Issuer BV, 144A,4.125%, 4/30/28 | | | 373,000 | | | | 356,865 | |
Owens & Minor, Inc., 144A,4.50%, 3/31/29 | | | 85,000 | | | | 77,433 | |
Teva Pharmaceutical Finance Netherlands III BV | | | | | | | | |
7.125%, 1/31/25 | | | 76,000 | | | | 76,217 | |
3.15%, 10/1/26 | | | 560,000 | | | | 536,693 | |
6.75%, 3/1/28 | | | 222,000 | | | | 231,371 | |
| | |
(Cost $3,272,042) | | | | | | | 3,427,549 | |
| | |
Diversified — 0.1% | | | | | | | | |
Holding Companies-Diversified — 0.1% | | | | | | | | |
Benteler International AG,144A,10.50%, 5/15/28 | | | | | | | | |
| | |
(Cost $90,763) | | | 89,000 | | | | 94,865 | |
See Notes to Financial Statements.
DBX ETF Trust | 33
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Energy — 11.5% | | | | | | | | |
Energy-Alternate Sources — 0.2% | | | | | | | | |
Sunnova Energy Corp.,144A,11.75%, 10/1/28 (a) | | | 70,000 | | | | 65,057 | |
TerraForm Power Operating LLC, 144A, 5.00%, 1/31/28 | | | 120,000 | | | | 117,832 | |
| | |
(Cost $176,132) | | | | | | | 182,889 | |
| | |
Oil & Gas — 5.0% | | | | | | | | |
Antero Resources Corp.,144A,7.625%, 2/1/29 | | | 75,000 | | | | 77,814 | |
Ascent Resources Utica Holdings LLC / ARU Finance Corp. | | | | | | | | |
144A,7.00%, 11/1/26 | | | 102,000 | | | | 102,404 | |
144A,8.25%, 12/31/28 | | | 110,000 | | | | 113,110 | |
144A,5.875%, 6/30/29 | | | 55,000 | | | | 55,028 | |
California Resources Corp.,144A, 8.25%, 6/15/29 | | | 156,000 | | | | 161,035 | |
Chesapeake Energy Corp. | | | | | | | | |
144A,5.50%, 2/1/26 | | | 89,000 | | | | 89,107 | |
144A,5.875%, 2/1/29 | | | 62,000 | | | | 62,186 | |
144A,6.75%, 4/15/29 | | | 184,000 | | | | 186,865 | |
Civitas Resources, Inc. | | | | | | | | |
144A,5.00%, 10/15/26 | | | 71,000 | | | | 70,056 | |
144A,8.375%, 7/1/28 | | | 240,000 | | | | 253,323 | |
CNX Resources Corp.,144A,6.00%, 1/15/29 | | | 85,000 | | | | 85,455 | |
Comstock Resources, Inc. | | | | | | | | |
144A,6.75%, 3/1/29 | | | 205,000 | | | | 201,812 | |
144A,6.75%, 3/1/29 | | | 71,000 | | | | 69,786 | |
Crescent Energy Finance LLC,144A,9.25%, 2/15/28 | | | 143,000 | | | | 151,721 | |
CVR Energy, Inc. | | | | | | | | |
144A,5.75%, 2/15/28 | | | 65,000 | | | | 61,618 | |
144A,8.50%, 1/15/29 | | | 107,000 | | | | 109,110 | |
Encino Acquisition Partners Holdings LLC,144A,8.50%, 5/1/28 | | | 124,000 | | | | 128,232 | |
Energean PLC,144A,6.50%, 4/30/27 | | | 80,000 | | | | 79,082 | |
Kosmos Energy Ltd. | | | | | | | | |
144A,7.125%, 4/4/26 | | | 175,000 | | | | 174,441 | |
144A,7.75%, 5/1/27 | | | 106,000 | | | | 104,902 | |
144A,7.50%, 3/1/28 | | | 30,000 | | | | 29,257 | |
Leviathan Bond Ltd. | | | | | | | | |
144A,REGS, 6.125%, 6/30/25 | | | 112,000 | | | | 110,388 | |
144A,REGS, 6.50%, 6/30/27 | | | 107,000 | | | | 102,737 | |
Matador Resources Co.,144A,6.875%, 4/15/28 | | | 88,000 | | | | 90,342 | |
Medco Maple Tree Pte Ltd.,144A,8.96%, 4/27/29 | | | 89,000 | | | | 94,065 | |
Murphy Oil Corp.,5.875%, 12/1/27 | | | 73,000 | | | | 73,374 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value
$ | |
| | |
Nabors Industries, Inc.,144A,7.375%, 5/15/27 | | | 130,000 | | | | 131,613 | |
Northern Oil & Gas, Inc.,144A,8.125%, 3/1/28 | | | 134,000 | | | | 137,116 | |
Parkland Corp.,144A,5.875%, 7/15/27 | | | 78,000 | | | | 78,078 | |
PBF Holding Co. LLC / PBF Finance Corp.,6.00%, 2/15/28 | | | 147,000 | | | | 145,671 | |
Permian Resources Operating LLC | | | | | | | | |
144A,8.00%, 4/15/27 | | | 96,000 | | | | 99,210 | |
144A,5.875%, 7/1/29 | | | 129,000 | | | | 129,121 | |
Puma International Financing SA,144A,7.75%, 4/25/29 | | | 89,000 | | | | 91,235 | |
Range Resources Corp. | | | | | | | | |
4.875%, 5/15/25 | | | 110,000 | | | | 109,481 | |
8.25%, 1/15/29 | | | 60,000 | | | | 62,225 | |
SM Energy Co. | | | | | | | | |
6.75%, 9/15/26 | | | 75,000 | | | | 75,128 | |
6.625%, 1/15/27 | | | 74,000 | | | | 74,375 | |
6.50%, 7/15/28 | | | 69,000 | | | | 69,440 | |
144A,6.75%, 8/1/29 | | | 130,000 | | | | 132,135 | |
Southwestern Energy Co.,5.375%, 2/1/29 | | | 130,000 | | | | 128,426 | |
Sunoco LP,144A,7.00%, 5/1/29 | | | 133,000 | | | | 138,647 | |
Sunoco LP / Sunoco Finance Corp. | | | | | | | | |
6.00%, 4/15/27 | | | 100,000 | | | | 100,335 | |
144A,7.00%, 9/15/28 | | | 89,000 | | | | 92,914 | |
4.50%, 5/15/29 | | | 130,000 | | | | 124,922 | |
Talos Production, Inc.,144A,9.00%, 2/1/29 | | | 118,000 | | | | 125,457 | |
Transocean, Inc. | | | | | | | | |
144A,8.00%, 2/1/27 | | | 116,000 | | | | 116,061 | |
144A,8.25%, 5/15/29 | | | 152,000 | | | | 154,135 | |
Tullow Oil PLC,144A,7.00%, 3/1/25 | | | 88,000 | | | | 86,488 | |
| | |
(Cost $5,132,713) | | | | | | | 5,239,463 | |
| | |
Oil & Gas Services — 0.6% | | | | | | | | |
Archrock Partners LP / Archrock Partners Finance Corp. | | | | | | | | |
144A,6.875%, 4/1/27 | | | 32,000 | | | | 32,255 | |
144A,6.25%, 4/1/28 | | | 142,000 | | | | 142,716 | |
USA Compression Partners LP / USA Compression Finance Corp. | | | | | | | | |
6.875%, 9/1/27 | | | 139,000 | | | | 140,362 | |
144A,7.125%, 3/15/29 | | | 178,000 | | | | 182,987 | |
Viridien,144A,8.75%, 4/1/27 (a) | | | 88,000 | | | | 84,511 | |
| | |
(Cost $569,916) | | | | | | | 582,831 | |
See Notes to Financial Statements.
34 | DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Pipelines — 5.7% | | | | | | | | |
Antero Midstream Partners LP / Antero Midstream Finance Corp. | | | | | | | | |
144A,5.75%, 3/1/27 | | | 104,000 | | | | 103,954 | |
144A,5.75%, 1/15/28 | | | 115,000 | | | | 115,121 | |
144A,5.375%, 6/15/29 | | | 120,000 | | | | 118,638 | |
Blue Racer Midstream LLC / Blue Racer Finance Corp.,144A,7.00%, 7/15/29 | | | 85,000 | | | | 88,467 | |
Buckeye Partners LP | | | | | | | | |
144A,4.125%, 3/1/25 | | | 57,000 | | | | 56,703 | |
3.95%, 12/1/26 | | | 107,000 | | | | 104,042 | |
4.125%, 12/1/27 | | | 80,000 | | | | 76,800 | |
144A,4.50%, 3/1/28 | | | 89,000 | | | | 85,388 | |
144A,6.875%, 7/1/29 | | | 102,000 | | | | 104,407 | |
Delek Logistics Partners LP / Delek Logistics Finance Corp.,144A,8.625%, 3/15/29 | | | 182,000 | | | | 191,511 | |
DT Midstream, Inc.,144A,4.125%, 6/15/29 | | | 205,000 | | | | 194,922 | |
EQM Midstream Partners LP | | | | | | | | |
144A,6.00%, 7/1/25 | | | 48,000 | | | | 48,092 | |
4.125%, 12/1/26 | | | 89,000 | | | | 87,494 | |
144A,7.50%, 6/1/27 | | | 79,000 | | | | 81,479 | |
144A,6.50%, 7/1/27 | | | 134,000 | | | | 137,433 | |
5.50%, 7/15/28 | | | 151,000 | | | | 152,129 | |
144A,4.50%, 1/15/29 | | | 142,000 | | | | 137,736 | |
144A,6.375%, 4/1/29 | | | 104,000 | | | | 107,001 | |
Genesis Energy LP / Genesis Energy Finance Corp. | | | | | | | | |
8.00%, 1/15/27 | | | 174,000 | | | | 178,289 | |
7.75%, 2/1/28 | | | 121,000 | | | | 123,238 | |
8.25%, 1/15/29 | | | 107,000 | | | | 111,269 | |
Global Partners LP / GLP Finance Corp.,7.00%, 8/1/27 | | | 65,000 | | | | 65,666 | |
Harvest Midstream I LP,144A,7.50%, 9/1/28 | | | 142,000 | | | | 145,739 | |
Hess Midstream Operations LP | | | | | | | | |
144A,5.625%, 2/15/26 | | | 141,000 | | | | 140,724 | |
144A,5.125%, 6/15/28 | | | 98,000 | | | | 96,941 | |
144A,6.50%, 6/1/29 | | | 90,000 | | | | 92,937 | |
Howard Midstream Energy Partners LLC,144A,8.875%, 7/15/28 | | | 90,000 | | | | 96,019 | |
ITT Holdings LLC,144A,6.50%, 8/1/29 | | | 212,000 | | | | 200,075 | |
New Fortress Energy, Inc. | | | | | | | | |
144A,6.75%, 9/15/25 | | | 167,000 | | | | 162,953 | |
144A,6.50%, 9/30/26 (a) | | | 256,000 | | | | 221,810 | |
144A,8.75%, 3/15/29 (a) | | | 128,000 | | | | 107,380 | |
NGL Energy Operating LLC / NGL Energy Finance Corp.,144A,8.125%, 2/15/29 | | | 154,000 | | | | 157,623 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
NuStar Logistics LP | | | | | | | | |
5.75%, 10/1/25 | | | 110,000 | | | | 110,133 | |
6.00%, 6/1/26 | | | 96,000 | | | | 96,970 | |
5.625%, 4/28/27 | | | 98,000 | | | | 98,334 | |
Rockies Express Pipeline LLC | | | | | | | | |
144A,3.60%, 5/15/25 | | | 71,000 | | | | 69,916 | |
144A,4.95%, 7/15/29 | | | 98,000 | | | | 93,746 | |
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp. | | | | | | | | |
144A,6.00%, 3/1/27 | | | 76,000 | | | | 75,845 | |
144A,5.50%, 1/15/28 | | | 133,000 | | | | 128,422 | |
144A,7.375%, 2/15/29 | | | 143,000 | | | | 146,285 | |
Venture Global Calcasieu Pass LLC,144A,3.875%, 8/15/29 | | | 200,000 | | | | 189,221 | |
Venture Global LNG, Inc. | | | | | | | | |
144A,8.125%, 6/1/28 | | | 400,000 | | | | 419,197 | |
144A,9.50%, 2/1/29 | | | 533,000 | | | | 600,992 | |
| | |
(Cost $5,851,708) | | | | | | | 5,921,041 | |
| | |
Financial — 12.1% | | | | | | | | |
Banks — 0.3% | | | | | | | | |
Freedom Mortgage Corp. | | | | | | | | |
144A,7.625%, 5/1/26 | | | 98,000 | | | | 98,497 | |
144A,6.625%, 1/15/27 | | | 79,000 | | | | 78,113 | |
144A,12.00%, 10/1/28 | | | 146,000 | | | | 159,082 | |
| | |
(Cost $319,602) | | | | | | | 335,692 | |
| | |
Diversified Financial Services — 4.5% | | | | | | | | |
AG Issuer LLC,144A,6.25%, 3/1/28 | | | 87,000 | | | | 85,044 | |
AG TTMT Escrow Issuer LLC,144A,8.625%, 9/30/27 | | | 95,000 | | | | 98,554 | |
Bread Financial Holdings, Inc.,144A,9.75%, 3/15/29 | | | 160,000 | | | | 172,763 | |
Coinbase Global, Inc.,144A,3.375%, 10/1/28 | | | 168,000 | | | | 147,602 | |
Credit Acceptance Corp.,144A,9.25%, 12/15/28 | | | 107,000 | | | | 115,157 | |
Encore Capital Group, Inc.,144A,9.25%, 4/1/29 | | | 90,000 | | | | 95,918 | |
Enova International, Inc. | | | | | | | | |
144A,11.25%, 12/15/28 | | | 71,000 | | | | 76,435 | |
144A,9.125%, 8/1/29 | | | 85,000 | | | | 86,369 | |
goeasy Ltd. | | | | | | | | |
144A,9.25%, 12/1/28 | | | 109,000 | | | | 117,314 | |
144A,7.625%, 7/1/29 | | | 100,000 | | | | 103,210 | |
Jefferies Finance LLC / JFIN Co.-Issuer Corp.,144A,5.00%, 8/15/28 | | | 176,000 | | | | 167,403 | |
LD Holdings Group LLC,144A,6.125%, 4/1/28 | | | 107,000 | | | | 90,501 | |
Macquarie Airfinance Holdings Ltd. | | | | | | | | |
144A,8.375%, 5/1/28 | | | 89,000 | | | | 94,383 | |
See Notes to Financial Statements.
DBX ETF Trust | 35
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,6.40%, 3/26/29 | | | 89,000 | | | | 92,679 | |
144A,8.125%, 3/30/29 | | | 90,000 | | | | 95,781 | |
Nationstar Mortgage Holdings, Inc. | | | | | | | | |
144A,5.00%, 2/1/26 | | | 89,000 | | | | 88,037 | |
144A,6.00%, 1/15/27 | | | 107,000 | | | | 106,910 | |
144A,5.50%, 8/15/28 | | | 153,000 | | | | 150,382 | |
144A,6.50%, 8/1/29 | | | 120,000 | | | | 121,059 | |
Navient Corp. | | | | | | | | |
5.875%, 10/25/24 | | | 90,000 | | | | 89,942 | |
6.75%, 6/25/25 | | | 92,000 | | | | 92,394 | |
6.75%, 6/15/26 | | | 89,000 | | | | 90,667 | |
5.00%, 3/15/27 | | | 124,000 | | | | 121,861 | |
4.875%, 3/15/28 | | | 73,000 | | | | 69,544 | |
5.50%, 3/15/29 | | | 132,000 | | | | 125,475 | |
OneMain Finance Corp. | | | | | | | | |
7.125%, 3/15/26 | | | 284,000 | | | | 289,623 | |
3.50%, 1/15/27 | | | 135,000 | | | | 128,106 | |
6.625%, 1/15/28 | | | 133,000 | | | | 135,680 | |
3.875%, 9/15/28 | | | 104,000 | | | | 95,877 | |
9.00%, 1/15/29 | | | 150,000 | | | | 159,574 | |
Osaic Holdings, Inc.,144A,10.75%, 8/1/27 | | | 73,000 | | | | 75,195 | |
PennyMac Financial Services, Inc. | | | | | | | | |
144A,5.375%, 10/15/25 | | | 84,000 | | | | 83,792 | |
144A,4.25%, 2/15/29 | | | 115,000 | | | | 108,721 | |
Rocket Mortgage LLC / Rocket Mortgage Co.-Issuer, Inc. | | | | | | | | |
144A,2.875%, 10/15/26 | | | 204,000 | | | | 194,207 | |
144A,3.625%, 3/1/29 | | | 131,000 | | | | 121,724 | |
SLM Corp. | | | | | | | | |
4.20%, 10/29/25 | | | 89,000 | | | | 88,242 | |
3.125%, 11/2/26 | | | 89,000 | | | | 85,138 | |
United Wholesale Mortgage LLC | | | | | | | | |
144A,5.50%, 11/15/25 | | | 116,000 | | | | 115,937 | |
144A,5.75%, 6/15/27 | | | 80,000 | | | | 79,764 | |
144A,5.50%, 4/15/29 | | | 130,000 | | | | 126,886 | |
| | |
(Cost $4,450,791) | | | | | | | 4,583,850 | |
| | |
Insurance — 1.2% | | | | | | | | |
Acrisure LLC / Acrisure Finance, Inc. | | | | | | | | |
144A,4.25%, 2/15/29 | | | 124,000 | | | | 116,265 | |
144A,8.50%, 6/15/29 | | | 88,000 | | | | 91,449 | |
144A,6.00%, 8/1/29 | | | 80,000 | | | | 76,473 | |
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer | | | | | | | | |
144A,4.25%, 10/15/27 | | | 131,000 | | | | 126,377 | |
144A,6.75%, 10/15/27 | | | 238,000 | | | | 237,154 | |
144A,6.75%, 4/15/28 | | | 222,000 | | | | 226,332 | |
AmWINS Group, Inc.,144A,6.375%, 2/15/29 | | | 133,000 | | | | 136,451 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
AssuredPartners, Inc.,144A,5.625%, 1/15/29 | | | 96,000 | | | | 92,068 | |
FWD Group Holdings Ltd.,144A,8.40%, 4/5/29 | | | 160,000 | | | | 165,684 | |
| | |
(Cost $1,236,971) | | | | | | | 1,268,253 | |
| | |
Investment Companies — 0.1% | | | | | | | | |
Icahn Enterprises LP / Icahn Enterprises Finance Corp.,144A,9.75%, 1/15/29 | | | | | | | | |
| | |
(Cost $117,923) | | | 115,000 | | | | 120,918 | |
| | |
Real Estate — 0.5% | | | | | | | | |
Anywhere Real Estate Group LLC / Realogy Co-Issuer Corp,144A,5.75%, 1/15/29 (a) | | | 102,000 | | | | 73,314 | |
Cushman & Wakefield US Borrower LLC,144A,6.75%, 5/15/28 | | | 120,000 | | | | 121,827 | |
Howard Hughes Corp. | | | | | | | | |
144A,5.375%, 8/1/28 | | | 133,000 | | | | 129,457 | |
144A,4.125%, 2/1/29 | | | 107,000 | | | | 98,681 | |
Kennedy-Wilson, Inc.,4.75%, 3/1/29 | | | 107,000 | | | | 96,702 | |
| | |
(Cost $502,263) | | | | | | | 519,981 | |
| | |
Real Estate Investment Trusts — 4.9% | | | | | | | | |
Apollo Commercial Real Estate Finance, Inc.,144A,4.625%, 6/15/29 | | | 83,000 | | | | 73,668 | |
Brandywine Operating Partnership LP | | | | | | | | |
3.95%, 11/15/27 | | | 80,000 | | | | 75,324 | |
8.875%, 4/12/29 | | | 70,000 | | | | 76,135 | |
Brookfield Property REIT, Inc. / BPR Cumulus LLC / BPR Nimbus LLC / GGSI Sellco LL | | | | | | | | |
144A,5.75%, 5/15/26 | | | 168,000 | | | | 167,735 | |
144A,4.50%, 4/1/27 | | | 113,000 | | | | 109,050 | |
Diversified Healthcare Trust | | | | | | | | |
9.75%, 6/15/25 | | | 78,000 | | | | 78,200 | |
4.75%, 2/15/28 (a) | | | 89,000 | | | | 78,295 | |
Global Net Lease, Inc. / Global Net Lease Operating Partnership LP,144A,3.75%, 12/15/27 | | | 89,000 | | | | 81,210 | |
Hudson Pacific Properties LP | | | | | | | | |
3.95%, 11/1/27 | | | 71,000 | | | | 63,152 | |
4.65%, 4/1/29 | | | 81,000 | | | | 67,052 | |
Iron Mountain, Inc. | | | | | | | | |
144A,4.875%, 9/15/27 | | | 179,000 | | | | 175,923 | |
144A,5.25%, 3/15/28 | | | 111,000 | | | | 109,847 | |
144A,5.00%, 7/15/28 | | | 93,000 | | | | 91,515 | |
144A,7.00%, 2/15/29 | | | 178,000 | | | | 185,005 | |
See Notes to Financial Statements.
36 | DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp. | | | | | | | | |
144A,4.25%, 2/1/27 | | | 109,000 | | | | 105,883 | |
144A,4.75%, 6/15/29 | | | 115,000 | | | | 110,922 | |
MPT Operating Partnership LP / MPT Finance Corp. | | | | | | | | |
5.25%, 8/1/26 (a) | | | 89,000 | | | | 83,805 | |
5.00%, 10/15/27 (a) | | | 249,000 | | | | 211,560 | |
4.625%, 8/1/29 | | | 150,000 | | | | 115,472 | |
Necessity Retail REIT Inc/The / American Finance Operating Partner LP,144A,4.50%, 9/30/28 | | | 91,000 | | | | 83,678 | |
Office Properties Income Trust,4.50%, 2/1/25 | | | 92,000 | | | | 77,828 | |
Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co.-Issuer | | | | | | | | |
144A,5.875%, 10/1/28 | | | 129,000 | | | | 128,448 | |
144A,4.875%, 5/15/29 | | | 133,000 | | | | 126,987 | |
RHP Hotel Properties LP / RHP Finance Corp. | | | | | | | | |
4.75%, 10/15/27 | | | 124,000 | | | | 121,559 | |
144A,7.25%, 7/15/28 | | | 73,000 | | | | 75,973 | |
144A,4.50%, 2/15/29 | | | 105,000 | | | | 100,876 | |
Rithm Capital Corp.,144A,8.00%, 4/1/29 | | | 140,000 | | | | 139,464 | |
RLJ Lodging Trust LP,144A,3.75%, 7/1/26 | | | 89,000 | | | | 86,124 | |
SBA Communications Corp. | | | | | | | | |
3.875%, 2/15/27 | | | 266,000 | | | | 257,638 | |
3.125%, 2/1/29 | | | 267,000 | | | | 245,942 | |
Service Properties Trust | | | | | | | | |
4.75%, 10/1/26 | | | 73,000 | | | | 69,872 | |
4.95%, 2/15/27 | | | 71,000 | | | | 65,902 | |
5.50%, 12/15/27 | | | 80,000 | | | | 75,335 | |
3.95%, 1/15/28 | | | 71,000 | | | | 60,410 | |
8.375%, 6/15/29 | | | 115,000 | | | | 114,001 | |
Starwood Property Trust, Inc. | | | | | | | | |
144A,3.75%, 12/31/24 | | | 27,000 | | | | 26,812 | |
4.75%, 3/15/25 | | | 80,000 | | | | 79,653 | |
144A,3.625%, 7/15/26 | | | 71,000 | | | | 68,404 | |
144A,4.375%, 1/15/27 | | | 92,000 | | | | 89,458 | |
144A,7.25%, 4/1/29 | | | 100,000 | | | | 104,217 | |
Uniti Group LP / Uniti Group Finance, Inc. / CSL Capital LLC | | | | | | | | |
144A,10.50%, 2/15/28 | | | 447,000 | | | | 459,139 | |
144A,4.75%, 4/15/28 | | | 101,000 | | | | 88,942 | |
144A,6.50%, 2/15/29 | | | 189,000 | | | | 144,937 | |
Vornado Realty LP | | | | | | | | |
3.50%, 1/15/25 | | | 80,000 | | | | 79,246 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
2.15%, 6/1/26 | | | 71,000 | | | | 67,204 | |
| | |
(Cost $4,987,833) | | | | | | | 5,097,802 | |
| | |
Venture Capital — 0.6% | | | | | | | | |
Icahn Enterprises LP / Icahn Enterprises Finance Corp. | | | | | | | | |
6.25%, 5/15/26 | | | 220,000 | | | | 218,951 | |
5.25%, 5/15/27 | | | 257,000 | | | | 248,598 | |
4.375%, 2/1/29 | | | 126,000 | | | | 110,672 | |
| | |
(Cost $575,693) | | | | | | | 578,221 | |
| | |
Industrial — 9.1% | | | | | | | | |
Aerospace/Defense — 2.2% | | | | | | | | |
Bombardier, Inc. | | | | | | | | |
144A,7.875%, 4/15/27 | | | 175,000 | | | | 175,705 | |
144A,6.00%, 2/15/28 | | | 133,000 | | | | 133,197 | |
144A,7.50%, 2/1/29 | | | 139,000 | | | | 146,528 | |
Spirit AeroSystems, Inc.,4.60%, 6/15/28 (a) | | | 124,000 | | | | 118,601 | |
TransDigm, Inc. | | | | | | | | |
5.50%, 11/15/27 | | | 471,000 | | | | 468,551 | |
144A,6.75%, 8/15/28 | | | 375,000 | | | | 386,024 | |
4.625%, 1/15/29 | | | 213,000 | | | | 205,084 | |
144A,6.375%, 3/1/29 | | | 448,000 | | | | 462,251 | |
4.875%, 5/1/29 | | | 133,000 | | | | 128,725 | |
| | |
(Cost $2,147,121) | | | | | | | 2,224,666 | |
| | |
Building Materials — 0.8% | | | | | | | | |
Camelot Return Merger Sub, Inc.,144A,8.75%, 8/1/28 | | | 126,000 | | | | 125,139 | |
Cornerstone Building Brands, Inc.,144A,9.50%, 8/15/29 | | | 85,000 | | | | 84,225 | |
Smyrna Ready Mix Concrete LLC,144A,6.00%, 11/1/28 | | | 195,000 | | | | 194,805 | |
Standard Industries, Inc. | | | | | | | | |
144A,5.00%, 2/15/27 | | | 125,000 | | | | 123,621 | |
144A,4.75%, 1/15/28 | | | 178,000 | | | | 173,269 | |
Summit Materials LLC / Summit Materials Finance Corp.,144A,5.25%, 1/15/29 | | | 129,000 | | | | 127,806 | |
| | |
(Cost $812,677) | | | | | | | 828,865 | |
| | |
Electrical Components & Equipment — 0.6% | | | | | | | | |
Energizer Holdings, Inc. | | | | | | | | |
144A,4.75%, 6/15/28 | | | 103,000 | | | | 99,377 | |
144A,4.375%, 3/31/29 | | | 141,000 | | | | 132,702 | |
WESCO Distribution, Inc. | | | | | | | | |
144A,7.25%, 6/15/28 | | | 235,000 | | | | 241,283 | |
144A,6.375%, 3/15/29 | | | 160,000 | | | | 164,378 | |
| | |
(Cost $620,393) | | | | | | | 637,740 | |
| | |
Electronics — 0.3% | | | | | | | | |
EquipmentShare.com, Inc.,144A,9.00%, 5/15/28 | | | 185,000 | | | | 192,574 | |
See Notes to Financial Statements.
DBX ETF Trust | 37
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Sensata Technologies BV,144A,4.00%, 4/15/29 | | | 178,000 | | | | 167,742 | |
| | |
(Cost $338,303) | | | | | | | 360,316 | |
| | |
Engineering & Construction — 0.5% | | | | | | | | |
Arcosa, Inc.,144A,4.375%, 4/15/29 | | | 70,000 | | | | 66,433 | |
Fluor Corp.,4.25%, 9/15/28 | | | 95,000 | | | | 92,226 | |
HTA Group Ltd./ Mauritius,144A,7.50%, 6/4/29 | | | 151,000 | | | | 152,462 | |
IHS Holding Ltd. | | | | | | | | |
144A,5.625%, 11/29/26 | | | 89,000 | | | | 86,499 | |
144A,6.25%, 11/29/28 | | | 79,000 | | | | 72,605 | |
| | |
(Cost $451,399) | | | | | | | 470,225 | |
| | |
Environmental Control — 0.9% | | | | | | | | |
GFL Environmental, Inc. | | | | | | | | |
144A,3.75%, 8/1/25 | | | 133,000 | | | | 131,655 | |
144A,5.125%, 12/15/26 | | | 83,000 | | | | 82,756 | |
144A,4.00%, 8/1/28 | | | 133,000 | | | | 126,905 | |
144A,3.50%, 9/1/28 | | | 135,000 | | | | 127,770 | |
144A,4.75%, 6/15/29 | | | 120,000 | | | | 116,217 | |
144A,4.375%, 8/15/29 | | | 96,000 | | | | 91,231 | |
Madison IAQ LLC | | | | | | | | |
144A,4.125%, 6/30/28 | | | 109,000 | | | | 103,806 | |
144A,5.875%, 6/30/29 | | | 181,000 | | | | 172,644 | |
| | |
(Cost $931,181) | | | | | | | 952,984 | |
| | |
Machinery-Diversified — 0.6% | | | | | | | | |
Husky Injection Molding Systems Ltd. / Titan Co.- Borrower LLC,144A,9.00%, 2/15/29 | | | 178,000 | | | | 182,687 | |
Maxim Crane Works Holdings Capital LLC,144A,11.50%, 9/1/28 | | | 89,000 | | | | 92,815 | |
TK Elevator Holdco GmbH,144A,7.625%, 7/15/28 | | | 71,000 | | | | 71,168 | |
TK Elevator US Newco, Inc.,144A,5.25%, 7/15/27 | | | 277,000 | | | | 272,903 | |
| | |
(Cost $613,711) | | | | | | | 619,573 | |
| | |
Miscellaneous Manufacturing — 0.2% | | | | | | | | |
Hillenbrand, Inc.,6.25%, 2/15/29 | | | 95,000 | | | | 96,324 | |
Trinity Industries, Inc.,144A,7.75%, 7/15/28 | | | 85,000 | | | | 89,124 | |
| | |
(Cost $181,991) | | | | | | | 185,448 | |
| | |
Packaging & Containers — 2.6% | | | | | | | | |
Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC | | | | | | | | |
144A,6.00%, 6/15/27 | | | 107,000 | | | | 107,062 | |
144A,3.25%, 9/1/28 | | | 111,000 | | | | 100,825 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc. | | | | | | | | |
144A,4.125%, 8/15/26 (a) | | | 208,000 | | | | 179,658 | |
144A,5.25%, 8/15/27 | | | 174,000 | | | | 104,858 | |
144A,5.25%, 8/15/27 | | | 136,000 | | | | 81,958 | |
Ball Corp. | | | | | | | | |
6.875%, 3/15/28 | | | 133,000 | | | | 137,795 | |
6.00%, 6/15/29 | | | 178,000 | | | | 183,375 | |
Berry Global, Inc.,144A,5.625%, 7/15/27 | | | 90,000 | | | | 90,107 | |
Graphic Packaging International LLC,144A,3.50%, 3/15/28 | | | 80,000 | | | | 75,706 | |
LABL, Inc. | | | | | | | | |
144A,6.75%, 7/15/26 | | | 94,000 | | | | 93,609 | |
144A,10.50%, 7/15/27 | | | 123,000 | | | | 121,611 | |
144A,5.875%, 11/1/28 | | | 89,000 | | | | 82,263 | |
Mauser Packaging Solutions Holding Co. | | | | | | | | |
144A,7.875%, 4/15/27 | | | 444,000 | | | | 459,620 | |
144A,9.25%, 4/15/27 | | | 239,000 | | | | 243,005 | |
Owens-Brockway Glass Container, Inc.,144A,6.625%, 5/13/27 | | | 109,000 | | | | 109,461 | |
Pactiv Evergreen Group Issuer, Inc. /Pactiv Evergreen Group Issuer LLC,144A,4.00%, 10/15/27 | | | 178,000 | | | | 170,127 | |
Sealed Air Corp. | | | | | | | | |
144A,4.00%, 12/1/27 | | | 80,000 | | | | 77,213 | |
144A,6.125%, 2/1/28 | | | 134,000 | | | | 136,247 | |
144A,5.00%, 4/15/29 | | | 80,000 | | | | 78,861 | |
Silgan Holdings, Inc.,4.125%, 2/1/28 | | | 105,000 | | | | 101,531 | |
| | |
(Cost $2,749,033) | | | | | | | 2,734,892 | |
| | |
Transportation — 0.2% | | | | | | | | |
Cargo Aircraft Management, Inc.,144A,4.75%, 2/1/28 | | | 102,000 | | | | 97,811 | |
Seaspan Corp.,144A,5.50%, 8/1/29 | | | 130,000 | | | | 123,927 | |
| | |
(Cost $217,957) | | | | | | | 221,738 | |
| | |
Trucking & Leasing — 0.2% | | | | | | | | |
Fortress Transportation and Infrastructure Investors LLC,144A,5.50%, 5/1/28 | | | | | | | | |
| | |
(Cost $165,505) | | | 178,000 | | | | 177,013 | |
| | |
Technology — 4.5% | | | | | | | | |
Computers — 1.4% | | | | | | | | |
CA Magnum Holdings,144A,5.375%, 10/31/26 | | | 179,000 | | | | 175,105 | |
NCR Atleos Corp.,144A,9.50%, 4/1/29 | | | 240,000 | | | | 264,611 | |
See Notes to Financial Statements.
38 | DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
NCR Voyix Corp. | | | | | | | | |
144A,5.00%, 10/1/28 (a) | | | 110,000 | | | | 108,803 | |
144A,5.125%, 4/15/29 | | | 222,000 | | | | 217,876 | |
Seagate HDD Cayman | | | | | | | | |
4.75%, 1/1/25 | | | 86,000 | | | | 85,735 | |
4.875%, 6/1/27 | | | 94,000 | | | | 93,654 | |
4.091%, 6/1/29 | | | 75,000 | | | | 71,449 | |
Western Digital Corp.,4.75%, 2/15/26 | | | 409,000 | | | | 405,566 | |
| | |
(Cost $1,380,624) | | | | | | | 1,422,799 | |
| | |
Office/Business Equipment — 0.1% | | | | | | | | |
Xerox Holdings Corp.,144A,5.50%, 8/15/28 | | | | | | | | |
| | |
(Cost $117,680) | | | 133,000 | | | | 113,997 | |
| | |
Semiconductors — 0.6% | | | | | | | | |
ams-OSRAM AG,144A,12.25%, 3/30/29 | | | 71,000 | | | | 75,825 | |
Entegris, Inc. | | | | | | | | |
144A,4.375%, 4/15/28 | | | 70,000 | | | | 67,298 | |
144A,4.75%, 4/15/29 | | | 266,000 | | | | 261,251 | |
144A,3.625%, 5/1/29 | | | 75,000 | | | | 69,109 | |
ON Semiconductor Corp.,144A,3.875%, 9/1/28 | | | 126,000 | | | | 119,824 | |
| | |
(Cost $570,598) | | | | | | | 593,307 | |
| | |
Software — 2.4% | | | | | | | | |
Central Parent LLC / CDK Global II LLC / CDK Financing Co., Inc.,144A,8.00%, 6/15/29 | | | 134,000 | | | | 138,460 | |
Central Parent, Inc. / CDK Global, Inc.,144A,7.25%, 6/15/29 | | | 133,000 | | | | 133,763 | |
Clarivate Science Holdings Corp. | | | | | | | | |
144A,3.875%, 7/1/28 | | | 164,000 | | | | 156,032 | |
144A,4.875%, 7/1/29 | | | 164,000 | | | | 158,136 | |
Cloud Software Group, Inc.,144A,6.50%, 3/31/29 | | | 686,000 | | | | 676,697 | |
Fair Isaac Corp. | | | | | | | | |
144A,5.25%, 5/15/26 | | | 71,000 | | | | 71,103 | |
144A,4.00%, 6/15/28 | | | 160,000 | | | | 152,940 | |
MicroStrategy, Inc.,144A,6.125%, 6/15/28 | | | 89,000 | | | | 87,197 | |
Open Text Corp.,144A,3.875%, 2/15/28 | | | 160,000 | | | | 151,807 | |
PTC, Inc. | | | | | | | | |
144A,3.625%, 2/15/25 | | | 92,000 | | | | 91,283 | |
144A,4.00%, 2/15/28 | | | 89,000 | | | | 86,102 | |
Rocket Software, Inc. | | | | | | | | |
144A,9.00%, 11/28/28 | | | 100,000 | | | | 103,825 | |
144A,6.50%, 2/15/29 | | | 102,000 | | | | 93,210 | |
SS&C Technologies, Inc.,144A,5.50%, 9/30/27 | | | 355,000 | | | | 354,941 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Twilio, Inc.,3.625%, 3/15/29 | | | 89,000 | | | | 82,294 | |
| | |
(Cost $2,460,409) | | | | | | | 2,537,790 | |
| | |
Utilities — 2.8% | | | | | | | | |
Electric — 2.5% | | | | | | | | |
Calpine Corp. | | | | | | | | |
144A,5.25%, 6/1/26 | | | 73,000 | | | | 72,816 | |
144A,4.50%, 2/15/28 | | | 224,000 | | | | 217,435 | |
144A,5.125%, 3/15/28 | | | 230,000 | | | | 224,595 | |
144A,4.625%, 2/1/29 | | | 110,000 | | | | 105,012 | |
Clearway Energy Operating LLC,144A,4.75%, 3/15/28 | | | 151,000 | | | | 146,832 | |
Continuum Energy Aura Pte Ltd.,144A,9.50%, 2/24/27 | | | 81,000 | | | | 84,152 | |
DPL, Inc.,4.125%, 7/1/25 | | | 74,000 | | | | 72,873 | |
NextEra Energy Operating Partners LP | | | | | | | | |
144A,3.875%, 10/15/26 | | | 89,000 | | | | 86,177 | |
144A,4.50%, 9/15/27 | | | 82,000 | | | | 79,274 | |
144A,7.25%, 1/15/29 | | | 133,000 | | | | 139,366 | |
NRG Energy, Inc. | | | | | | | | |
5.75%, 1/15/28 | | | 130,000 | | | | 130,259 | |
144A,3.375%, 2/15/29 | | | 85,000 | | | | 78,073 | |
144A,5.25%, 6/15/29 | | | 130,000 | | | | 128,603 | |
PG&E Corp.,5.00%, 7/1/28 | | | 178,000 | | | | 174,490 | |
Vistra Operations Co. LLC | | | | | | | | |
144A,5.50%, 9/1/26 | | | 176,000 | | | | 175,952 | |
144A,5.625%, 2/15/27 | | | 225,000 | | | | 224,819 | |
144A,5.00%, 7/31/27 | | | 231,000 | | | | 228,803 | |
144A,4.375%, 5/1/29 | | | 217,000 | | | | 207,892 | |
| | |
(Cost $2,516,469) | | | | | | | 2,577,423 | |
| | |
Gas — 0.3% | | | | | | | | |
AmeriGas Partners LP / AmeriGas Finance Corp. | | | | | | | | |
5.875%, 8/20/26 | | | 140,000 | | | | 138,569 | |
5.75%, 5/20/27 | | | 78,000 | | | | 76,247 | |
144A,9.375%, 6/1/28 | | | 88,000 | | | | 92,466 | |
| | |
(Cost $308,028) | | | | | | | 307,282 | |
| | |
TOTAL CORPORATE BONDS | | | | | | | | |
| | |
(Cost $99,912,545) | | | | | | | 101,211,427 | |
| | |
| | | Number of Shares | | | | |
| | |
SECURITIES LENDING COLLATERAL — 4.0% | | | | | | | | |
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (b)(c) | | | | | | | | |
| | |
(Cost $4,160,683) | | | 4,160,683 | | | | 4,160,683 | |
See Notes to Financial Statements.
DBX ETF Trust | 39
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ | |
| | |
CASH EQUIVALENTS — 1.3% | | | | | | | | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (b) | | | | | | | | |
| | |
(Cost $1,306,482) | | | 1,306,482 | | | | 1,306,482 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ | |
| | |
TOTAL INVESTMENTS — 103.0% | | | | | | | | |
| | |
(Cost $105,379,710) | | | | | | | 106,678,592 | |
| |
Other assets and liabilities, net — (3.0%) | | | | (3,105,234 | ) |
NET ASSETS — 100.0% | | | | | | | 103,573,358 | |
A summary of the Fund’s transactions with affiliated investments during the year ended August 31, 2024 is as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Value ($) at 8/31/2023 | | | Purchases Cost ($) | | Sales Proceeds ($) | | Net Realized Gain/(Loss) ($) | | | Net Change in Unrealized Appreciation (Depreciation) ($) | | | Income ($) | | | Capital Gain Distributions ($) | | | Number of Shares at 8/31/2024 | | | Value ($) at 8/31/2024 | |
| | SECURITIES LENDING COLLATERAL – 4.0% | | | | | | | | | | | | | | | | | | | | | | | | | |
| | DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (b)(c) | | | | | | | | | |
| | — | | | | 4,160,683 | (d) | | | — | | | | — | | | | — | | | | 35,238 | | | | — | | | | 4,160,683 | | | | 4,160,683 | |
| | | | | | |
| | CASH EQUIVALENTS – 1.3% | | | | | | | | | | | | | | | | | | | | | | | | | |
| | DWS Government Money Market Series “Institutional Shares”, 5.24% (b) | | | | | | | | | | | | | |
| | 1,126,201 | | | | 25,758,667 | | | | (25,578,386 | ) | | | — | | | | — | | | | 62,061 | | | | — | | | | 1,306,482 | | | | 1,306,482 | |
| | | | | | | | | |
| | 1,126,201 | | | | 29,919,350 | | | | (25,578,386 | ) | | | — | | | | — | | | | 97,299 | | | | — | | | | 5,467,165 | | | | 5,467,165 | |
| (a) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at August 31, 2024 amounted to $4,068,197, which is 3.9% 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. |
| (d) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the year ended August 31, 2024. |
| | |
| PIK: | | Denotes that all or a portion of the income is paid in-kind in the form of additional principal. |
| 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 August 31, 2024 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 (a) | | $ | — | | | $ | 101,211,427 | | | $ | — | | | $ | 101,211,427 | |
| | | | |
Short-Term Investments (a) | | | 5,467,165 | | | | — | | | | — | | | | 5,467,165 | |
| | | | | |
TOTAL | | $ | 5,467,165 | | | $ | 101,211,427 | | | $ | — | | | $ | 106,678,592 | |
| (a) | See Schedule of Investments for additional detailed categorizations. |
See Notes to Financial Statements.
40 | DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield BB-B ex Financials ETF
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
CORPORATE BONDS — 97.8% | | | | | | | | |
| | |
Basic Materials — 5.6% | | | | | | | | |
| | |
Chemicals — 2.7% | | | | | | | | |
Ashland, Inc. | | | | | | | | |
144A,3.375%, 9/1/31 | | | 288,000 | | | | 252,228 | |
6.875%, 5/15/43 | | | 188,000 | | | | 198,134 | |
Avient Corp.,144A,7.125%, 8/1/30 | | | 464,000 | | | | 482,969 | |
Axalta Coating Systems Dutch Holding B BV,144A,7.25%, 2/15/31 | | | 306,000 | | | | 324,061 | |
Axalta Coating Systems LLC,144A,3.375%, 2/15/29 | | | 448,000 | | | | 415,445 | |
Axalta Coating Systems LLC / Axalta Coating Systems Dutch Holding B BV,144A,4.75%, 6/15/27 | | | 326,000 | | | | 320,768 | |
Cerdia Finanz GmbH,144A,10.50%, 2/15/27 (a) | | | 326,000 | | | | 337,494 | |
Chemours Co. | | | | | | | | |
5.375%, 5/15/27 | | | 303,000 | | | | 294,416 | |
144A,5.75%, 11/15/28 | | | 508,000 | | | | 476,042 | |
144A,4.625%, 11/15/29 | | | 380,000 | | | | 334,290 | |
Consolidated Energy Finance SA | | | | | | | | |
144A,5.625%, 10/15/28 | | | 336,000 | | | | 272,557 | |
144A,12.00%, 2/15/31 | | | 399,000 | | | | 392,706 | |
CVR Partners LP / CVR Nitrogen Finance Corp.,144A,6.125%, 6/15/28 | | | 337,000 | | | | 327,133 | |
Element Solutions, Inc.,144A,3.875%, 9/1/28 | | | 520,000 | | | | 491,667 | |
HB Fuller Co. | | | | | | | | |
4.00%, 2/15/27 | | | 184,000 | | | | 179,022 | |
4.25%, 10/15/28 | | | 184,000 | | | | 175,261 | |
Herens Holdco SARL,144A,4.75%, 5/15/28 | | | 238,000 | | | | 207,573 | |
INEOS Finance PLC | | | | | | | | |
144A,6.75%, 5/15/28 (a) | | | 260,000 | | | | 261,863 | |
144A,7.50%, 4/15/29 | | | 455,000 | | | | 470,916 | |
INEOS Quattro Finance 2 PLC,144A,9.625%, 3/15/29 | | | 256,000 | | | | 276,122 | |
Ingevity Corp.,144A,3.875%, 11/1/28 | | | 357,000 | | | | 330,795 | |
Mativ Holdings, Inc.,144A,6.875%, 10/1/26 | | | 214,000 | | | | 213,089 | |
Methanex Corp. | | | | | | | | |
5.125%, 10/15/27 | | | 459,000 | | | | 451,803 | |
5.25%, 12/15/29 | | | 449,000 | | | | 441,301 | |
5.65%, 12/1/44 | | | 192,000 | | | | 171,495 | |
Minerals Technologies, Inc.,144A,5.00%, 7/1/28 | | | 245,000 | | | | 237,704 | |
NOVA Chemicals Corp. | | | | | | | | |
144A,5.25%, 6/1/27 | | | 672,000 | | | | 663,352 | |
144A,8.50%, 11/15/28 | | | 245,000 | | | | 261,203 | |
144A,4.25%, 5/15/29 (a) | | | 382,000 | | | | 348,423 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,9.00%, 2/15/30 | | | 420,000 | | | | 451,136 | |
Nufarm Australia Ltd. / Nufarm Americas, Inc.,144A,5.00%, 1/27/30 | | | 224,000 | | | | 207,610 | |
Olin Corp. | | | | | | | | |
5.125%, 9/15/27 | | | 326,000 | | | | 322,055 | |
5.625%, 8/1/29 | | | 430,000 | | | | 428,722 | |
5.00%, 2/1/30 | | | 330,000 | | | | 318,993 | |
Olympus Water US Holding Corp. | | | | | | | | |
144A,7.125%, 10/1/27 | | | 217,000 | | | | 220,017 | |
144A,4.25%, 10/1/28 | | | 522,000 | | | | 490,261 | |
144A,9.75%, 11/15/28 | | | 1,088,000 | | | | 1,158,925 | |
144A,7.25%, 6/15/31 | | | 515,000 | | | | 532,299 | |
Rain Carbon, Inc.,144A,12.25%, 9/1/29 (a) | | | 291,000 | | | | 311,436 | |
SCIH Salt Holdings, Inc.,144A,4.875%, 5/1/28 | | | 704,000 | | | | 670,821 | |
SCIL IV LLC / SCIL USA Holdings LLC,144A,5.375%, 11/1/26 | | | 465,000 | | | | 458,183 | |
SK Invictus Intermediate II SARL,144A,5.00%, 10/30/29 | | | 432,000 | | | | 407,691 | |
SNF Group SACA | | | | | | | | |
144A,3.125%, 3/15/27 | | | 224,000 | | | | 209,264 | |
144A,3.375%, 3/15/30 | | | 227,000 | | | | 197,700 | |
TPC Group, Inc.,144A,13.00%, 12/16/27 | | | 203,429 | | | | 205,567 | |
Tronox, Inc.,144A,4.625%, 3/15/29 | | | 688,000 | | | | 626,994 | |
WR Grace Holdings LLC | | | | | | | | |
144A,4.875%, 6/15/27 | | | 475,000 | | | | 464,501 | |
144A,7.375%, 3/1/31 | | | 214,000 | | | | 222,280 | |
| | |
(Cost $16,924,740) | | | | | | | 17,514,287 | |
| | |
Forest Products & Paper — 0.2% | | | | | | | | |
Ahlstrom Holding 3 Oy,144A,4.875%, 2/4/28 | | | 187,000 | | | | 175,758 | |
Domtar Corp.,144A,6.75%, 10/1/28 | | | 413,000 | | | | 378,385 | |
Mercer International, Inc. | | | | | | | | |
5.50%, 1/15/26 | | | 184,000 | | | | 177,880 | |
5.125%, 2/1/29 | | | 558,000 | | | | 456,136 | |
| | |
(Cost $1,190,696) | | | | | | | 1,188,159 | |
| | |
Iron/Steel — 1.1% | | | | | | | | |
Algoma Steel, Inc.,144A,9.125%, 4/15/29 | | | 220,000 | | | | 222,658 | |
ATI, Inc. | | | | | | | | |
5.875%, 12/1/27 | | | 164,000 | | | | 164,317 | |
4.875%, 10/1/29 | | | 219,000 | | | | 212,361 | |
7.25%, 8/15/30 | | | 272,000 | | | | 288,841 | |
5.125%, 10/1/31 | | | 219,000 | | | | 210,634 | |
Big River Steel LLC / BRS Finance Corp.,144A,6.625%, 1/31/29 | | | 441,000 | | | | 445,909 | |
See Notes to Financial Statements.
DBX ETF Trust | 41
Schedule of Investments
Xtrackers USD High Yield BB-B ex Financials ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal
Amount $ | | | Value $ | |
| | |
Carpenter Technology Corp. | | | | | | | | |
6.375%, 7/15/28 | | | 265,000 | | | | 265,252 | |
7.625%, 3/15/30 | | | 184,000 | | | | 190,962 | |
Cleveland-Cliffs, Inc. | | | | | | | | |
5.875%, 6/1/27 | | | 355,000 | | | | 354,289 | |
144A,4.625%, 3/1/29 | | | 226,000 | | | | 211,937 | |
144A,6.75%, 4/15/30 | | | 485,000 | | | | 491,708 | |
144A,4.875%, 3/1/31 | | | 219,000 | | | | 201,126 | |
144A,7.00%, 3/15/32 | | | 925,000 | | | | 928,936 | |
Commercial Metals Co. | | | | | | | | |
4.125%, 1/15/30 | | | 184,000 | | | | 172,862 | |
3.875%, 2/15/31 | | | 184,000 | | | | 166,912 | |
4.375%, 3/15/32 | | | 195,000 | | | | 180,714 | |
Mineral Resources Ltd. | | | | | | | | |
144A,8.125%, 5/1/27 | | | 453,000 | | | | 456,869 | |
144A,8.00%, 11/1/27 | | | 400,000 | | | | 406,290 | |
144A,9.25%, 10/1/28 | | | 690,000 | | | | 728,948 | |
144A,8.50%, 5/1/30 | | | 383,000 | | | | 398,285 | |
TMS International Corp.,144A,6.25%, 4/15/29 | | | 214,000 | | | | 200,559 | |
United States Steel Corp. | | | | | | | | |
6.875%, 3/1/29 | | | 291,000 | | | | 293,420 | |
6.65%, 6/1/37 | | | 188,000 | | | | 194,927 | |
| | |
(Cost $7,211,198) | | | | | | | 7,388,716 | |
| | |
Mining — 1.6% | | | | | | | | |
Alcoa Nederland Holding BV | | | | | | | | |
144A,5.50%, 12/15/27 | | | 400,000 | | | | 399,125 | |
144A,6.125%, 5/15/28 | | | 320,000 | | | | 324,126 | |
144A,4.125%, 3/31/29 | | | 330,000 | | | | 314,405 | |
144A,7.125%, 3/15/31 | | | 480,000 | | | | 504,783 | |
Arsenal AIC Parent LLC | | | | | | | | |
144A,8.00%, 10/1/30 | | | 459,000 | | | | 493,492 | |
144A,11.50%, 10/1/31 | | | 313,000 | | | | 354,003 | |
Century Aluminum Co.,144A,7.50%, 4/1/28 | | | 153,000 | | | | 155,624 | |
Compass Minerals International, Inc.,144A,6.75%, 12/1/27 (a) | | | 324,000 | | | | 315,092 | |
Constellium SE | | | | | | | | |
144A,5.625%, 6/15/28 | | | 209,000 | | | | 207,370 | |
144A,3.75%, 4/15/29 (a) | | | 326,000 | | | | 300,817 | |
144A,6.375%, 8/15/32 | | | 230,000 | | | | 233,472 | |
Eldorado Gold Corp.,144A,6.25%, 9/1/29 | | | 320,000 | | | | 316,012 | |
FMG Resources August 2006 Pty Ltd. | | | | | | | | |
144A,4.50%, 9/15/27 | | | 387,000 | | | | 374,299 | |
144A,5.875%, 4/15/30 | | | 449,000 | | | | 448,259 | |
144A,4.375%, 4/1/31 | | | 949,000 | | | | 870,685 | |
144A,6.125%, 4/15/32 | | | 523,000 | | | | 522,325 | |
Hecla Mining Co.,7.25%, 2/15/28 | | | 291,000 | | | | 295,980 | |
Hudbay Minerals, Inc. | | | | | | | | |
144A,4.50%, 4/1/26 | | | 368,000 | | | | 362,914 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,6.125%, 4/1/29 | | | 347,000 | | | | 350,226 | |
JW Aluminum Continuous Cast Co.,144A,10.25%, 6/1/26 | | | 180,000 | | | | 180,000 | |
Kaiser Aluminum Corp. | | | | | | | | |
144A,4.625%, 3/1/28 | | | 320,000 | | | | 303,886 | |
144A,4.50%, 6/1/31 | | | 337,000 | | | | 302,850 | |
New Gold, Inc.,144A,7.50%, 7/15/27 | | | 256,000 | | | | 258,435 | |
Novelis Corp. | | | | | | | | |
144A,3.25%, 11/15/26 | | | 459,000 | | | | 441,762 | |
144A,4.75%, 1/30/30 | | | 1,024,000 | | | | 977,925 | |
144A,3.875%, 8/15/31 | | | 480,000 | | | | 430,373 | |
Perenti Finance Pty Ltd.,144A,7.50%, 4/26/29 | | | 220,000 | | | | 227,811 | |
Taseko Mines Ltd.,144A,8.25%, 5/1/30 | | | 320,000 | | | | 332,511 | |
| | |
(Cost $10,322,455) | | | | | | | 10,598,562 | |
| | |
Communications — 13.1% | | | | | | | | |
Advertising — 1.1% | | | | | | | | |
Advantage Sales & Marketing, Inc.,144A,6.50%, 11/15/28 | | | 386,000 | | | | 361,899 | |
Clear Channel Outdoor Holdings, Inc. | | | | | | | | |
144A,5.125%, 8/15/27 | | | 811,000 | | | | 792,276 | |
144A,9.00%, 9/15/28 (a) | | | 480,000 | | | | 510,225 | |
144A,7.875%, 4/1/30 | | | 550,000 | | | | 574,671 | |
Lamar Media Corp. | | | | | | | | |
3.75%, 2/15/28 | | | 364,000 | | | | 348,752 | |
4.875%, 1/15/29 | | | 257,000 | | | | 252,409 | |
4.00%, 2/15/30 | | | 337,000 | | | | 314,660 | |
3.625%, 1/15/31 | | | 390,000 | | | | 353,149 | |
Neptune Bidco US, Inc.,144A,9.29%, 4/15/29 | | | 1,671,000 | | | | 1,668,276 | |
Outfront Media Capital LLC / Outfront Media Capital Corp. | | | | | | | | |
144A,5.00%, 8/15/27 | | | 418,000 | | | | 415,094 | |
144A,4.25%, 1/15/29 | | | 306,000 | | | | 288,813 | |
144A,4.625%, 3/15/30 | | | 317,000 | | | | 297,209 | |
144A,7.375%, 2/15/31 | | | 288,000 | | | | 306,113 | |
Stagwell Global LLC,144A,5.625%, 8/15/29 | | | 713,000 | | | | 675,905 | |
Summer BC Bidco B LLC,144A,5.50%, 10/31/26 | | | 270,000 | | | | 265,477 | |
| | |
(Cost $7,095,605) | | | | | | | 7,424,928 | |
| | |
Internet — 1.7% | | | | | | | | |
ANGI Group LLC,144A,3.875%, 8/15/28 | | | 320,000 | | | | 290,334 | |
Arches Buyer, Inc.,144A,4.25%, 6/1/28 | | | 608,000 | | | | 555,581 | |
Cablevision Lightpath LLC,144A,3.875%, 9/15/27 | | | 276,000 | | | | 259,023 | |
Cars.com, Inc.,144A,6.375%, 11/1/28 | | | 245,000 | | | | 243,554 | |
See Notes to Financial Statements.
42 | DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield BB-B ex Financials ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Cogent Communications Group LLC | | | | | | | | |
144A,3.50%, 5/1/26 | | | 306,000 | | | | 296,043 | |
144A,7.00%, 6/15/27 | | | 288,000 | | | | 291,480 | |
Cogent Communications Group, Inc. / Cogent Communications Finance, Inc.,144A,7.00%, 6/15/27 | | | 200,000 | | | | 202,319 | |
Gen Digital, Inc. | | | | | | | | |
144A,6.75%, 9/30/27 | | | 584,000 | | | | 598,160 | |
144A,7.125%, 9/30/30 (a) | | | 396,000 | | | | 413,728 | |
Getty Images, Inc.,144A,9.75%, 3/1/27 | | | 200,000 | | | | 199,246 | |
Go Daddy Operating Co. LLC / GD Finance Co., Inc. | | | | | | | | |
144A,5.25%, 12/1/27 | | | 384,000 | | | | 382,300 | |
144A,3.50%, 3/1/29 | | | 505,000 | | | | 469,553 | |
GrubHub Holdings, Inc.,144A,5.50%, 7/1/27 | | | 306,000 | | | | 292,414 | |
ION Trading Technologies SARL | | | | | | | | |
144A,5.75%, 5/15/28 | | | 276,000 | | | | 259,787 | |
144A,9.50%, 5/30/29 | | | 357,000 | | | | 379,073 | |
Match Group Holdings II LLC | | | | | | | | |
144A,5.00%, 12/15/27 | | | 276,000 | | | | 270,586 | |
144A,4.625%, 6/1/28 | | | 306,000 | | | | 294,213 | |
144A,5.625%, 2/15/29 | | | 214,000 | | | | 213,491 | |
144A,4.125%, 8/1/30 | | | 326,000 | | | | 300,291 | |
144A,3.625%, 10/1/31 | | | 327,000 | | | | 290,363 | |
Newfold Digital Holdings Group, Inc.,144A,11.75%, 10/15/28 | | | 330,000 | | | | 327,272 | |
Rakuten Group, Inc. | | | | | | | | |
144A,5.125%, Perpetual | | | 481,000 | | | | 452,693 | |
144A,6.25%, Perpetual | | | 652,000 | | | | 563,784 | |
144A,11.25%, 2/15/27 | | | 1,154,000 | | | | 1,252,702 | |
144A,9.75%, 4/15/29 | | | 1,281,000 | | | | 1,380,278 | |
Ziff Davis, Inc.,144A,4.625%, 10/15/30 | | | 285,000 | | | | 262,991 | |
| | |
(Cost $10,170,374) | | | | | | | 10,741,259 | |
| | |
Media — 6.3% | | | | | | | | |
AMC Networks, Inc. | | | | | | | | |
144A,10.25%, 1/15/29 | | | 560,000 | | | | 562,800 | |
4.25%, 2/15/29 | | | 631,000 | | | | 447,438 | |
Block Communications, Inc.,144A,4.875%, 3/1/28 | | | 195,000 | | | | 180,657 | |
Cable One, Inc.,144A,4.00%, 11/15/30 (a) | | | 416,000 | | | | 319,255 | |
CCO Holdings LLC / CCO Holdings Capital Corp. | | | | | | | | |
144A,5.50%, 5/1/26 | | | 411,000 | | | | 409,954 | |
144A,5.125%, 5/1/27 | | | 1,694,000 | | | | 1,660,256 | |
144A,5.00%, 2/1/28 | | | 1,315,000 | | | | 1,267,136 | |
144A,5.375%, 6/1/29 | | | 788,000 | | | | 747,468 | |
144A,6.375%, 9/1/29 | | | 793,000 | | | | 783,282 | |
144A,4.75%, 3/1/30 | | | 1,590,000 | | | | 1,449,331 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,4.50%, 8/15/30 | | | 1,434,000 | | | | 1,278,851 | |
144A,4.25%, 2/1/31 | | | 1,564,000 | | | | 1,357,092 | |
144A,7.375%, 3/1/31 (a) | | | 576,000 | | | | 586,293 | |
144A,4.75%, 2/1/32 | | | 632,000 | | | | 550,684 | |
4.50%, 5/1/32 | | | 1,509,000 | | | | 1,288,466 | |
144A,4.50%, 6/1/33 | | | 921,000 | | | | 769,956 | |
144A,4.25%, 1/15/34 | | | 1,023,000 | | | | 824,958 | |
Directv Financing LLC,144A,8.875%, 2/1/30 | | | 480,000 | | | | 486,969 | |
Directv Financing LLC / Directv Financing Co.-Obligor, Inc.,144A,5.875%, 8/15/27 | | | 2,368,000 | | | | 2,292,978 | |
Gannett Holdings LLC,144A,6.00%, 11/1/26 | | | 183,000 | | | | 182,825 | |
GCI LLC,144A,4.75%, 10/15/28 | | | 394,000 | | | | 373,734 | |
Gray Television, Inc. | | | | | | | | |
144A,7.00%, 5/15/27 | | | 430,000 | | | | 414,733 | |
144A,10.50%, 7/15/29 | | | 788,000 | | | | 808,782 | |
LCPR Senior Secured Financing DAC | | | | | | | | |
144A,6.75%, 10/15/27 | | | 744,000 | | | | 680,212 | |
144A,5.125%, 7/15/29 (a) | | | 532,000 | | | | 429,591 | |
McGraw-Hill Education, Inc. | | | | | | | | |
144A,5.75%, 8/1/28 | | | 540,000 | | | | 529,267 | |
144A,7.375%, 9/1/31 | | | 420,000 | | | | 433,766 | |
Midcontinent Communications,144A,8.00%, 8/15/32 | | | 400,000 | | | | 398,501 | |
News Corp. | | | | | | | | |
144A,3.875%, 5/15/29 | | | 640,000 | | | | 601,889 | |
144A,5.125%, 2/15/32 | | | 306,000 | | | | 297,509 | |
Nexstar Media, Inc. | | | | | | | | |
144A,5.625%, 7/15/27 | | | 1,104,000 | | | | 1,078,836 | |
144A,4.75%, 11/1/28 | | | 640,000 | | | | 597,969 | |
Paramount Global | | | | | | | | |
6.25%, 2/28/57 | | | 398,000 | | | | 343,619 | |
6.375%, 3/30/62 | | | 640,000 | | | | 585,177 | |
Sinclair Television Group, Inc.,144A,4.125%, 12/1/30 | | | 480,000 | | | | 338,702 | |
Sirius XM Radio, Inc. | | | | | | | | |
144A,3.125%, 9/1/26 | | | 633,000 | | | | 605,106 | |
144A,5.00%, 8/1/27 | | | 949,000 | | | | 927,654 | |
144A,4.00%, 7/15/28 | | | 1,265,000 | | | | 1,184,857 | |
144A,5.50%, 7/1/29 | | | 800,000 | | | | 778,603 | |
144A,4.125%, 7/1/30 | | | 961,000 | | | | 862,577 | |
144A,3.875%, 9/1/31 | | | 973,000 | | | | 834,927 | |
Sunrise FinCo I BV,144A,4.875%, 7/15/31 | | | 805,000 | | | | 749,238 | |
Sunrise HoldCo IV BV,144A,5.50%, 1/15/28 | | | 287,000 | | | | 282,589 | |
TEGNA, Inc. | | | | | | | | |
144A,4.75%, 3/15/26 | | | 337,000 | | | | 332,792 | |
4.625%, 3/15/28 | | | 640,000 | | | | 601,545 | |
5.00%, 9/15/29 | | | 704,000 | | | | 653,877 | |
See Notes to Financial Statements.
DBX ETF Trust | 43
Schedule of Investments
Xtrackers USD High Yield BB-B ex Financials ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Townsquare Media, Inc.,144A,6.875%, 2/1/26 (a) | | | 318,000 | | | | 317,392 | |
Univision Communications, Inc. | | | | | | | | |
144A,6.625%, 6/1/27 | | | 1,009,000 | | | | 998,731 | |
144A,8.00%, 8/15/28 | | | 857,000 | | | | 867,057 | |
144A,4.50%, 5/1/29 | | | 672,000 | | | | 589,727 | |
144A,7.375%, 6/30/30 | | | 619,000 | | | | 594,141 | |
144A,8.50%, 7/31/31 | | | 315,000 | | | | 314,374 | |
Virgin Media Finance PLC,144A,5.00%, 7/15/30 | | | 592,000 | | | | 512,931 | |
Virgin Media Secured Finance PLC | | | | | | | | |
144A,5.50%, 5/15/29 | | | 913,000 | | | | 865,400 | |
144A,4.50%, 8/15/30 | | | 584,000 | | | | 515,685 | |
Virgin Media Vendor Financing Notes IV DAC,144A,5.00%, 7/15/28 | | | 320,000 | | | | 303,462 | |
VZ Secured Financing BV,144A,5.00%, 1/15/32 | | | 977,000 | | | | 883,918 | |
Ziggo Bond Co. BV | | | | | | | | |
144A,6.00%, 1/15/27 | | | 413,000 | | | | 411,620 | |
144A,5.125%, 2/28/30 | | | 320,000 | | | | 288,782 | |
Ziggo BV,144A,4.875%, 1/15/30 | | | 634,000 | | | | 591,089 | |
| | |
(Cost $40,443,259) | | | | | | | 41,227,010 | |
| | |
Telecommunications — 4.0% | | | | | | | | |
British Telecommunications PLC | | | | | | | | |
144A,4.25%, 11/23/81 | | | 326,000 | | | | 313,905 | |
144A,4.875%, 11/23/81 | | | 313,000 | | | | 286,280 | |
Ciena Corp.,144A,4.00%, 1/31/30 | | | 265,000 | | | | 248,730 | |
Connect Finco SARL / Connect US Finco LLC,144A,6.75%, 10/1/26 | | | 1,313,000 | | | | 1,302,331 | |
Consolidated Communications, Inc. | | | | | | | | |
144A,5.00%, 10/1/28 | | | 270,000 | | | | 235,702 | |
144A,6.50%, 10/1/28 | | | 480,000 | | | | 439,321 | |
Frontier Communications Holdings LLC | | | | | | | | |
144A,5.875%, 10/15/27 | | | 747,000 | | | | 744,068 | |
144A,5.00%, 5/1/28 | | | 993,000 | | | | 964,257 | |
144A,8.75%, 5/15/30 | | | 778,000 | | | | 819,390 | |
144A,8.625%, 3/15/31 | | | 486,000 | | | | 514,261 | |
Frontier Florida LLC, Series E, 6.86%, 2/1/28 | | | 184,000 | | | | 186,940 | |
GoTo Group, Inc.,144A,5.50%, 5/1/28 | | | 230,000 | | | | 178,054 | |
Iliad Holding SASU | | | | | | | | |
144A,6.50%, 10/15/26 | | | 455,000 | | | | 458,837 | |
144A,7.00%, 10/15/28 | | | 547,000 | | | | 555,126 | |
144A,8.50%, 4/15/31 | | | 616,000 | | | | 652,755 | |
Intelsat Jackson Holdings SA,144A,6.50%, 3/15/30 | | | 1,921,000 | | | | 1,844,541 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Level 3 Financing, Inc. | | | | | | | | |
144A,10.50%, 4/15/29 | | | 420,000 | | | | 450,227 | |
144A,11.00%, 11/15/29 | | | 1,020,000 | | | | 1,118,233 | |
144A,10.50%, 5/15/30 (a) | | | 592,000 | | | | 634,310 | |
144A,10.75%, 12/15/30 | | | 430,000 | | | | 463,097 | |
Lumen Technologies, Inc. | | | | | | | | |
144A,4.125%, 4/15/29 | | | 200,000 | | | | 156,000 | |
144A,4.125%, 4/15/30 | | | 213,000 | | | | 158,935 | |
Millicom International Cellular SA | | | | | | | | |
144A,5.125%, 1/15/28 | | | 256,500 | | | | 248,207 | |
144A,6.25%, 3/25/29 | | | 433,800 | | | | 429,228 | |
144A,4.50%, 4/27/31 | | | 487,000 | | | | 434,000 | |
144A,7.375%, 4/2/32 | | | 300,000 | | | | 303,903 | |
Optics Bidco SpA | | | | | | | | |
144A,Series 2033, 6.375%, 11/15/33 | | | 321,000 | | | | 320,643 | |
144A,6.00%, 9/30/34 | | | 320,000 | | | | 310,390 | |
144A,Series 2036, 7.20%, 7/18/36 | | | 310,000 | | | | 325,592 | |
144A,Series 2038, 7.721%, 6/4/38 | | | 320,000 | | | | 346,643 | |
Qwest Corp.,7.25%, 9/15/25 | | | 163,000 | | | | 161,981 | |
Rogers Communications, Inc.,144A,5.25%, 3/15/82 | | | 459,000 | | | | 448,988 | |
Telecom Italia Capital SA | | | | | | | | |
6.375%, 11/15/33 | | | 321,000 | | | | 323,954 | |
6.00%, 9/30/34 | | | 320,000 | | | | 309,568 | |
7.20%, 7/18/36 | | | 312,000 | | | | 320,223 | |
7.721%, 6/4/38 | | | 327,000 | | | | 346,507 | |
United States Cellular Corp.,6.70%, 12/15/33 | | | 355,000 | | | | 390,935 | |
Viasat, Inc. | | | | | | | | |
144A,5.625%, 9/15/25 | | | 448,000 | | | | 443,537 | |
144A,5.625%, 4/15/27 | | | 384,000 | | | | 364,419 | |
144A,6.50%, 7/15/28 (a) | | | 260,000 | | | | 216,450 | |
144A,7.50%, 5/30/31 (a) | | | 460,000 | | | | 351,842 | |
Viavi Solutions, Inc.,144A,3.75%, 10/1/29 | | | 245,000 | | | | 217,985 | |
Vmed O2 UK Financing I PLC | | | | | | | | |
144A,4.25%, 1/31/31 | | | 877,000 | | | | 762,414 | |
144A,4.75%, 7/15/31 | | | 878,000 | | | | 770,271 | |
144A,7.75%, 4/15/32 | | | 490,000 | | | | 498,159 | |
Vodafone Group PLC | | | | | | | | |
7.00%, 4/4/79 | | | 1,285,000 | | | | 1,345,355 | |
3.25%, 6/4/81 | | | 306,000 | | | | 292,619 | |
4.125%, 6/4/81 | | | 649,000 | | | | 583,382 | |
5.125%, 6/4/81 | | | 608,000 | | | | 476,968 | |
Windstream Escrow LLC / Windstream Escrow Finance Corp.,144A,7.75%, 8/15/28 | | | 896,000 | | | | 874,591 | |
Zayo Group Holdings, Inc.,144A,4.00%, 3/1/27 (a) | | | 958,000 | | | | 836,175 | |
See Notes to Financial Statements.
44 | DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield BB-B ex Financials ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Zegona Finance PLC,144A,8.625%, 7/15/29 | | | 585,000 | | | | 607,669 | |
| | |
(Cost $25,283,444) | | | | | | | 26,387,898 | |
| | |
Consumer, Cyclical — 22.2% | | | | | | | | |
Airlines — 1.7% | | | | | | | | |
Air Canada,144A,3.875%, 8/15/26 | | | 779,000 | | | | 751,683 | |
Allegiant Travel Co.,144A,7.25%, 8/15/27 (a) | | | 357,000 | | | | 338,934 | |
American Airlines Inc/ AAdvantage Loyalty IP Ltd. | | | | | | | | |
144A,5.50%, 4/20/26 | | | 1,307,833 | | | | 1,301,060 | |
144A,5.75%, 4/20/29 | | | 1,897,000 | | | | 1,859,496 | |
American Airlines, Inc. | | | | | | | | |
144A,7.25%, 2/15/28 | | | 486,000 | | | | 489,022 | |
144A,8.50%, 5/15/29 | | | 640,000 | | | | 665,383 | |
Hawaiian Brand Intellectual Property Ltd. / HawaiianMiles Loyalty Ltd.,144A,11.00%, 4/15/29 | | | 640,000 | | | | 651,392 | |
JetBlue Airways Corp. / JetBlue Loyalty LP,144A,9.875%, 9/20/31 | | | 1,281,000 | | | | 1,266,103 | |
United Airlines, Inc. | | | | | | | | |
144A,4.375%, 4/15/26 | | | 1,281,000 | | | | 1,250,088 | |
144A,4.625%, 4/15/29 | | | 1,237,000 | | | | 1,177,501 | |
VistaJet Malta Finance PLC / Vista Management Holding, Inc. | | | | | | | | |
144A,7.875%, 5/1/27 (a) | | | 323,000 | | | | 303,148 | |
144A,9.50%, 6/1/28 | | | 320,000 | | | | 299,258 | |
144A,6.375%, 2/1/30 (a) | | | 640,000 | | | | 524,807 | |
| | |
(Cost $10,752,389) | | | | | | | 10,877,875 | |
| | |
Apparel — 0.4% | | | | | | | | |
Crocs, Inc. | | | | | | | | |
144A,4.25%, 3/15/29 | | | 214,000 | | | | 202,032 | |
144A,4.125%, 8/15/31 | | | 224,000 | | | | 201,336 | |
Hanesbrands, Inc. | | | | | | | | |
144A,4.875%, 5/15/26 | | | 576,000 | | | | 571,999 | |
144A,9.00%, 2/15/31 (a) | | | 389,000 | | | | 418,220 | |
Kontoor Brands, Inc.,144A,4.125%, 11/15/29 | | | 245,000 | | | | 230,706 | |
Levi Strauss & Co.,144A,3.50%, 3/1/31 | | | 320,000 | | | | 288,669 | |
Under Armour, Inc.,3.25%, 6/15/26 | | | 367,000 | | | | 354,701 | |
William Carter Co.,144A,5.625%, 3/15/27 | | | 336,000 | | | | 335,403 | |
| | |
(Cost $2,507,053) | | | | | | | 2,603,066 | |
| | |
Auto Manufacturers — 0.6% | | | | | | | | |
Allison Transmission, Inc. | | | | | | | | |
144A,4.75%, 10/1/27 | | | 265,000 | | | | 259,418 | |
144A,5.875%, 6/1/29 | | | 326,000 | | | | 326,888 | |
144A,3.75%, 1/30/31 | | | 640,000 | | | | 581,611 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Aston Martin Capital Holdings Ltd.,144A,10.00%, 3/31/29 | | | 683,000 | | | | 696,890 | |
Jaguar Land Rover Automotive PLC | | | | | | | | |
144A,7.75%, 10/15/25 | | | 428,000 | | | | 429,548 | |
144A,4.50%, 10/1/27 | | | 306,000 | | | | 299,412 | |
144A,5.875%, 1/15/28 | | | 364,000 | | | | 365,256 | |
144A,5.50%, 7/15/29 (a) | | | 262,000 | | | | 261,373 | |
JB Poindexter & Co., Inc.,144A,8.75%, 12/15/31 | | | 380,000 | | | | 400,846 | |
Wabash National Corp.,144A,4.50%, 10/15/28 (a) | | | 246,000 | | | | 226,466 | |
| | |
(Cost $3,756,748) | | | | | | | 3,847,708 | |
| | |
Auto Parts & Equipment — 1.9% | | | | | | | | |
Adient Global Holdings Ltd. | | | | | | | | |
144A,4.875%, 8/15/26 | | | 509,000 | | | | 502,749 | |
144A,7.00%, 4/15/28 | | | 316,000 | | | | 324,777 | |
144A,8.25%, 4/15/31 (a) | | | 320,000 | | | | 340,135 | |
American Axle & Manufacturing, Inc. | | | | | | | | |
6.50%, 4/1/27 (a) | | | 326,000 | | | | 327,680 | |
6.875%, 7/1/28 | | | 245,000 | | | | 246,221 | |
5.00%, 10/1/29 | | | 384,000 | | | | 357,221 | |
Clarios Global LP / Clarios US Finance Co. | | | | | | | | |
144A,6.25%, 5/15/26 | | | 575,000 | | | | 575,083 | |
144A,8.50%, 5/15/27 | | | 530,000 | | | | 535,200 | |
144A,6.75%, 5/15/28 | | | 490,000 | | | | 503,785 | |
Cooper-Standard Automotive, Inc.,144A,9.00% Cash or 4.50% PIK, 3/31/27 | | | 400,000 | | | | 427,341 | |
Dana, Inc. | | | | | | | | |
5.375%, 11/15/27 | | | 245,000 | | | | 242,534 | |
5.625%, 6/15/28 | | | 255,000 | | | | 251,327 | |
4.25%, 9/1/30 | | | 265,000 | | | | 238,656 | |
4.50%, 2/15/32 | | | 224,000 | | | | 198,654 | |
Garrett Motion Holdings, Inc. / Garrett LX I SARL,144A,7.75%, 5/31/32 | | | 512,000 | | | | 529,862 | |
Goodyear Tire & Rubber Co. | | | | | | | | |
5.00%, 5/31/26 | | | 576,000 | | | | 568,811 | |
4.875%, 3/15/27 | | | 429,000 | | | | 419,117 | |
5.00%, 7/15/29 (a) | | | 547,000 | | | | 508,015 | |
5.25%, 4/30/31 | | | 357,000 | | | | 323,440 | |
5.25%, 7/15/31 (a) | | | 384,000 | | | | 348,281 | |
5.625%, 4/30/33 (a) | | | 296,000 | | | | 260,733 | |
IHO Verwaltungs GmbH | | | | | | | | |
144A,4.75% Cash or 5.50% PIK, 9/15/26 | | | 306,000 | | | | 300,182 | |
144A,6.00% Cash or 6.75% PIK, 5/15/27 | | | 275,000 | | | | 270,975 | |
144A,6.3750% Cash or 7.125% PIK, 5/15/29 | | | 265,000 | | | | 260,038 | |
See Notes to Financial Statements.
DBX ETF Trust | 45
Schedule of Investments
Xtrackers USD High Yield BB-B ex Financials ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Phinia, Inc.,144A,6.75%, 4/15/29 | | | 330,000 | | | | 338,635 | |
Tenneco, Inc.,144A,8.00%, 11/17/28 | | | 1,217,000 | | | | 1,137,914 | |
Titan International, Inc.,7.00%, 4/30/28 | | | 264,000 | | | | 258,166 | |
ZF North America Capital, Inc. | | | | | | | | |
144A,6.875%, 4/14/28 | | | 387,000 | | | | 399,825 | |
144A,7.125%, 4/14/30 | | | 397,000 | | | | 416,018 | |
144A,6.75%, 4/23/30 | | | 519,000 | | | | 533,508 | |
144A,6.875%, 4/23/32 | | | 430,000 | | | | 446,780 | |
| | |
(Cost $12,119,920) | | | | | | | 12,391,663 | |
| | |
Distribution/Wholesale — 0.7% | | | | | | | | |
American Builders & Contractors Supply Co., Inc. | | | | | | | | |
144A,4.00%, 1/15/28 | | | 459,000 | | | | 441,242 | |
144A,3.875%, 11/15/29 | | | 265,000 | | | | 245,076 | |
Gates Corp.,144A,6.875%, 7/1/29 | | | 325,000 | | | | 333,367 | |
H&E Equipment Services, Inc.,144A,3.875%, 12/15/28 | | | 800,000 | | | | 741,056 | |
Resideo Funding, Inc. | | | | | | | | |
144A,4.00%, 9/1/29 | | | 184,000 | | | | 170,480 | |
144A,6.50%, 7/15/32 | | | 384,000 | | | | 390,936 | |
Ritchie Bros Holdings, Inc. | | | | | | | | |
144A,6.75%, 3/15/28 | | | 357,000 | | | | 367,288 | |
144A,7.75%, 3/15/31 | | | 532,000 | | | | 565,494 | |
Velocity Vehicle Group LLC,144A,8.00%, 6/1/29 | | | 324,000 | | | | 336,998 | |
Verde Purchaser LLC,144A,10.50%, 11/30/30 | | | 454,000 | | | | 488,928 | |
Windsor Holdings III LLC,144A,8.50%, 6/15/30 | | | 512,000 | | | | 548,438 | |
| | |
(Cost $4,507,756) | | | | | | | 4,629,303 | |
| | |
Entertainment — 3.6% | | | | | | | | |
Affinity Interactive,144A,6.875%, 12/15/27 | | | 349,000 | | | | 299,165 | |
Banijay Entertainment SAS,144A,8.125%, 5/1/29 | | | 245,000 | | | | 253,803 | |
Boyne USA, Inc.,144A,4.75%, 5/15/29 | | | 423,000 | | | | 406,006 | |
Caesars Entertainment, Inc. | | | | | | | | |
144A,8.125%, 7/1/27 | | | 1,037,000 | | | | 1,059,026 | |
144A,4.625%, 10/15/29 (a) | | | 852,000 | | | | 805,914 | |
144A,7.00%, 2/15/30 | | | 1,265,000 | | | | 1,309,994 | |
144A,6.50%, 2/15/32 | | | 875,000 | | | | 899,177 | |
CCM Merger, Inc.,144A,6.375%, 5/1/26 | | | 182,000 | | | | 181,842 | |
Cedar Fair LP / Canada’s Wonderland Co. / Magnum Management Corp. / Millennium Op | | | | | | | | |
5.375%, 4/15/27 | | | 320,000 | | | | 318,450 | |
6.50%, 10/1/28 | | | 184,000 | | | | 186,315 | |
5.25%, 7/15/29 | | | 320,000 | | | | 315,371 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Churchill Downs, Inc. | | | | | | | | |
144A,5.50%, 4/1/27 | | | 384,000 | | | | 382,197 | |
144A,4.75%, 1/15/28 | | | 459,000 | | | | 447,596 | |
144A,5.75%, 4/1/30 | | | 768,000 | | | | 763,385 | |
144A,6.75%, 5/1/31 | | | 376,000 | | | | 386,385 | |
Cinemark USA, Inc. | | | | | | | | |
144A,5.25%, 7/15/28 (a) | | | 490,000 | | | | 481,338 | |
144A,7.00%, 8/1/32 | | | 330,000 | | | | 342,529 | |
Empire Resorts, Inc.,144A,7.75%, 11/1/26 | | | 184,000 | | | | 177,501 | |
Everi Holdings, Inc.,144A,5.00%, 7/15/29 | | | 245,000 | | | | 242,863 | |
International Game Technology PLC | | | | | | | | |
144A,4.125%, 4/15/26 | | | 486,000 | | | | 476,943 | |
144A,6.25%, 1/15/27 | | | 480,000 | | | | 487,900 | |
144A,5.25%, 1/15/29 | | | 489,000 | | | | 482,729 | |
Jacobs Entertainment, Inc.,144A,6.75%, 2/15/29 | | | 306,000 | | | | 291,925 | |
Light & Wonder International, Inc. | | | | | | | | |
144A,7.00%, 5/15/28 | | | 454,000 | | | | 459,123 | |
144A,7.25%, 11/15/29 | | | 306,000 | | | | 317,086 | |
144A,7.50%, 9/1/31 | | | 357,000 | | | | 375,925 | |
Lions Gate Capital Holdings 1, Inc.,144A,5.50%, 4/15/29 | | | 250,000 | | | | 224,840 | |
Live Nation Entertainment, Inc. | | | | | | | | |
144A,5.625%, 3/15/26 | | | 184,000 | | | | 182,956 | |
144A,6.50%, 5/15/27 | | | 759,000 | | | | 772,071 | |
144A,4.75%, 10/15/27 | | | 608,000 | | | | 592,268 | |
144A,3.75%, 1/15/28 | | | 306,000 | | | | 289,917 | |
Merlin Entertainments Group US Holdings, Inc.,144A,7.375%, 2/15/31 | | | 320,000 | | | | 318,816 | |
Merlin Entertainments Ltd.,144A,5.75%, 6/15/26 | | | 265,000 | | | | 261,142 | |
Midwest Gaming Borrower LLC / Midwest Gaming Finance Corp.,144A,4.875%, 5/1/29 | | | 480,000 | | | | 458,272 | |
Mohegan Tribal Gaming Authority,
144A,8.00%, 2/1/26 | | | 752,000 | | | | 728,229 | |
Odeon Finco PLC,144A,12.75%, 11/1/27 | | | 256,000 | | | | 266,926 | |
Ontario Gaming GTA LP/OTG Co-Issuer, Inc.,144A,8.00%, 8/1/30 | | | 261,000 | | | | 269,012 | |
Penn Entertainment, Inc. | | | | | | | | |
144A,5.625%, 1/15/27 | | | 265,000 | | | | 260,625 | |
144A,4.125%, 7/1/29 | | | 245,000 | | | | 219,434 | |
Raptor Acquisition Corp. / Raptor Co.-Issuer LLC,144A,4.875%, 11/1/26 | | | 214,000 | | | | 206,783 | |
Resorts World Las Vegas LLC / RWLV Capital, Inc. | | | | | | | | |
144A,4.625%, 4/16/29 | | | 680,000 | | | | 612,550 | |
144A,8.45%, 7/27/30 | | | 260,000 | | | | 274,578 | |
See Notes to Financial Statements.
46 | DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield BB-B ex Financials ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,4.625%, 4/6/31 | | | 230,000 | | | | 200,022 | |
Scientific Games Holdings LP/ Scientific Games US FinCo, Inc.,144A,6.625%, 3/1/30 | | | 519,000 | | | | 513,323 | |
SeaWorld Parks & Entertainment, Inc.,144A,5.25%, 8/15/29 | | | 469,000 | | | | 453,643 | |
Six Flags Entertainment Corp. | | | | | | | | |
144A,5.50%, 4/15/27 | | | 306,000 | | | | 303,822 | |
144A,7.25%, 5/15/31 | | | 512,000 | | | | 530,997 | |
Six Flags Entertainment Corp. / Six Flags Theme Parks, Inc.,144A,6.625%, 5/1/32 | | | 520,000 | | | | 535,225 | |
Speedway Motorsports LLC / Speedway Funding II, Inc.,144A,4.875%, 11/1/27 | | | 214,000 | | | | 209,364 | |
Vail Resorts, Inc.,144A,6.50%, 5/15/32 | | | 378,000 | | | | 392,910 | |
WMG Acquisition Corp. | | | | | | | | |
144A,3.75%, 12/1/29 | | | 351,000 | | | | 327,396 | |
144A,3.875%, 7/15/30 | | | 338,000 | | | | 313,754 | |
144A,3.00%, 2/15/31 (a) | | | 507,000 | | | | 450,862 | |
Wynn Resorts Finance LLC / Wynn Resorts Capital Corp. | | | | | | | | |
144A,5.125%, 10/1/29 | | | 459,000 | | | | 449,090 | |
144A,7.125%, 2/15/31 | | | 640,000 | | | | 679,254 | |
| | |
(Cost $22,785,637) | | | | | | | 23,448,569 | |
| | |
Food Service — 0.1% | | | | | | | | |
Aramark Services, Inc.,144A,5.00%, 2/1/28 | | | 727,000 | | | | 713,069 | |
TKC Holdings, Inc.,144A,6.875%, 5/15/28 | | | 260,000 | | | | 258,316 | |
| | |
(Cost $934,784) | | | | | | | 971,385 | |
| | |
Home Builders — 1.5% | | | | | | | | |
Adams Homes, Inc.,144A,9.25%, 10/15/28 | | | 253,000 | | | | 266,149 | |
Ashton Woods USA LLC / Ashton Woods Finance Co. | | | | | | | | |
144A,6.625%, 1/15/28 | | | 153,000 | | | | 154,121 | |
144A,4.625%, 8/1/29 | | | 224,000 | | | | 212,109 | |
144A,4.625%, 4/1/30 | | | 245,000 | | | | 230,583 | |
Beazer Homes USA, Inc. | | | | | | | | |
5.875%, 10/15/27 | | | 219,000 | | | | 217,768 | |
7.25%, 10/15/29 | | | 214,000 | | | | 218,601 | |
144A,7.50%, 3/15/31 | | | 158,000 | | | | 160,846 | |
Brookfield Residential Properties, Inc. / Brookfield Residential US LLC | | | | | | | | |
144A,6.25%, 9/15/27 | | | 367,000 | | | | 365,689 | |
144A,5.00%, 6/15/29 | | | 214,000 | | | | 200,805 | |
144A,4.875%, 2/15/30 | | | 343,000 | | | | 319,727 | |
Century Communities, Inc. | | | | | | | | |
6.75%, 6/1/27 | | | 303,000 | | | | 305,689 | |
144A,3.875%, 8/15/29 | | | 326,000 | | | | 302,036 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Dream Finders Homes, Inc.,144A,8.25%, 8/15/28 | | | 201,000 | | | | 212,836 | |
Empire Communities Corp.,144A,9.75%, 5/1/29 | | | 300,000 | | | | 316,125 | |
Forestar Group, Inc. | | | | | | | | |
144A,3.85%, 5/15/26 | | | 265,000 | | | | 258,008 | |
144A,5.00%, 3/1/28 | | | 184,000 | | | | 178,233 | |
Installed Building Products, Inc.,144A,5.75%, 2/1/28 | | | 194,000 | | | | 191,880 | |
K Hovnanian Enterprises, Inc.,144A,11.75%, 9/30/29 | | | 271,000 | | | | 300,227 | |
KB Home | | | | | | | | |
6.875%, 6/15/27 | | | 194,000 | | | | 201,768 | |
4.80%, 11/15/29 | | | 195,000 | | | | 189,576 | |
7.25%, 7/15/30 | | | 214,000 | | | | 223,249 | |
4.00%, 6/15/31 | | | 250,000 | | | | 230,224 | |
Landsea Homes Corp.,144A,8.875%, 4/1/29 | | | 192,000 | | | | 198,728 | |
LGI Homes, Inc. | | | | | | | | |
144A,8.75%, 12/15/28 | | | 245,000 | | | | 261,035 | |
144A,4.00%, 7/15/29 | | | 204,000 | | | | 185,218 | |
M/I Homes, Inc. | | | | | | | | |
4.95%, 2/1/28 | | | 264,000 | | | | 258,726 | |
3.95%, 2/15/30 | | | 184,000 | | | | 168,962 | |
Mattamy Group Corp. | | | | | | | | |
144A,5.25%, 12/15/27 | | | 326,000 | | | | 321,655 | |
144A,4.625%, 3/1/30 | | | 417,000 | | | | 393,205 | |
New Home Co., Inc.,144A,9.25%, 10/1/29 | | | 210,000 | | | | 218,666 | |
Shea Homes LP / Shea Homes Funding Corp. | | | | | | | | |
4.75%, 2/15/28 | | | 288,000 | | | | 281,428 | |
4.75%, 4/1/29 | | | 183,000 | | | | 175,920 | |
STL Holding Co. LLC,144A,8.75%, 2/15/29 | | | 176,000 | | | | 185,938 | |
Taylor Morrison Communities, Inc. | | | | | | | | |
144A,5.875%, 6/15/27 | | | 326,000 | | | | 329,929 | |
144A,5.75%, 1/15/28 | | | 296,000 | | | | 298,464 | |
144A,5.125%, 8/1/30 | | | 330,000 | | | | 326,118 | |
Thor Industries, Inc.,144A,4.00%, 10/15/29 | | | 320,000 | | | | 292,145 | |
Tri Pointe Homes, Inc. | | | | | | | | |
5.25%, 6/1/27 | | | 184,000 | | | | 183,100 | |
5.70%, 6/15/28 | | | 224,000 | | | | 225,344 | |
Winnebago Industries, Inc.,144A,6.25%, 7/15/28 | | | 194,000 | | | | 193,236 | |
| | |
(Cost $9,382,379) | | | | | | | 9,754,066 | |
| | |
Home Furnishings — 0.1% | | | | | | | | |
Tempur Sealy International, Inc. | | | | | | | | |
144A,4.00%, 4/15/29 | | | 512,000 | | | | 474,773 | |
144A,3.875%, 10/15/31 | | | 519,000 | | | | 456,452 | |
| | |
(Cost $898,636) | | | | | | | 931,225 | |
See Notes to Financial Statements.
DBX ETF Trust | 47
Schedule of Investments
Xtrackers USD High Yield BB-B ex Financials ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Housewares — 0.5% | | | | | | | | |
Newell Brands, Inc. | | | | | | | | |
5.70%, 4/1/26 | | | 1,336,000 | | | | 1,331,280 | |
6.375%, 9/15/27 (a) | | | 320,000 | | | | 321,518 | |
6.625%, 9/15/29 (a) | | | 320,000 | | | | 319,508 | |
6.875%, 4/1/36 | | | 267,000 | | | | 253,896 | |
7.00%, 4/1/46 | | | 428,000 | | | | 371,104 | |
Scotts Miracle-Gro Co. | | | | | | | | |
5.25%, 12/15/26 | | | 113,000 | | | | 112,343 | |
4.50%, 10/15/29 | | | 264,000 | | | | 250,070 | |
4.00%, 4/1/31 | | | 304,000 | | | | 272,350 | |
4.375%, 2/1/32 | | | 245,000 | | | | 220,178 | |
| | |
(Cost $3,317,203) | | | | | | | 3,452,247 | |
| | |
Leisure Time — 3.1% | | | | | | | | |
Acushnet Co.,144A,7.375%, 10/15/28 | | | 214,000 | | | | 224,436 | |
Amer Sports Co.,144A,6.75%, 2/16/31 (a) | | | 519,000 | | | | 527,426 | |
Carnival Corp. | | | | | | | | |
144A,7.625%, 3/1/26 | | | 895,000 | | | | 904,066 | |
144A,5.75%, 3/1/27 | | | 1,767,000 | | | | 1,772,852 | |
144A,6.00%, 5/1/29 (a) | | | 1,280,000 | | | | 1,285,723 | |
144A,10.50%, 6/1/30 | | | 663,000 | | | | 719,587 | |
Carnival Holdings Bermuda Ltd.,144A,10.375%, 5/1/28 | | | 1,284,000 | | | | 1,389,120 | |
Life Time, Inc. | | | | | | | | |
144A,5.75%, 1/15/26 | | | 600,000 | | | | 600,098 | |
144A,8.00%, 4/15/26 | | | 291,000 | | | | 295,385 | |
Lindblad Expeditions Holdings, Inc.,144A,9.00%, 5/15/28 | | | 176,000 | | | | 182,187 | |
Lindblad Expeditions LLC,144A,6.75%, 2/15/27 | | | 241,000 | | | | 239,468 | |
NCL Corp. Ltd. | | | | | | | | |
144A,5.875%, 3/15/26 | | | 912,000 | | | | 911,503 | |
144A,5.875%, 2/15/27 | | | 633,000 | | | | 634,416 | |
144A,8.375%, 2/1/28 | | | 367,000 | | | | 386,305 | |
144A,8.125%, 1/15/29 | | | 512,000 | | | | 547,633 | |
144A,7.75%, 2/15/29 (a) | | | 420,000 | | | | 448,227 | |
NCL Finance Ltd.,144A,6.125%, 3/15/28 | | | 333,000 | | | | 336,888 | |
Royal Caribbean Cruises Ltd. | | | | | | | | |
144A,4.25%, 7/1/26 | | | 413,000 | | | | 405,731 | |
144A,5.50%, 8/31/26 | | | 652,000 | | | | 652,924 | |
144A,5.375%, 7/15/27 | | | 640,000 | | | | 641,094 | |
7.50%, 10/15/27 | | | 247,000 | | | | 263,992 | |
3.70%, 3/15/28 | | | 320,000 | | | | 306,213 | |
144A,5.50%, 4/1/28 | | | 961,000 | | | | 968,422 | |
144A,7.25%, 1/15/30 | | | 459,000 | | | | 485,236 | |
144A,6.25%, 3/15/32 | | | 800,000 | | | | 826,174 | |
144A,6.00%, 2/1/33 | | | 1,250,000 | | | | 1,280,485 | |
Sabre GLBL, Inc. | | | | | | | | |
144A,8.625%, 6/1/27 | | | 578,000 | | | | 555,639 | |
144A,11.25%, 12/15/27 | | | 355,000 | | | | 359,574 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Viking Cruises Ltd. | | | | | | | | |
144A,5.875%, 9/15/27 | | | 517,000 | | | | 516,386 | |
144A,7.00%, 2/15/29 | | | 333,000 | | | | 337,328 | |
144A,9.125%, 7/15/31 | | | 467,000 | | | | 512,326 | |
Viking Ocean Cruises Ship VII Ltd.,144A,5.625%, 2/15/29 | | | 214,000 | | | | 212,220 | |
Vista Outdoor, Inc.,144A,4.50%, 3/15/29 | | | 306,000 | | | | 305,968 | |
VOC Escrow Ltd.,144A,5.00%, 2/15/28 | | | 443,000 | | | | 434,606 | |
| | |
(Cost $19,974,486) | | | | | | | 20,469,638 | |
| | |
Lodging — 1.9% | | | | | | | | |
Boyd Gaming Corp. | | | | | | | | |
4.75%, 12/1/27 (a) | | | 640,000 | | | | 628,011 | |
144A,4.75%, 6/15/31 | | | 576,000 | | | | 541,950 | |
Genting New York LLC / GENNY Capital, Inc.,144A,3.30%, 2/15/26 | | | 336,000 | | | | 325,365 | |
Hilton Domestic Operating Co., Inc. | | | | | | | | |
144A,5.75%, 5/1/28 | | | 320,000 | | | | 320,558 | |
144A,5.875%, 4/1/29 | | | 360,000 | | | | 366,866 | |
144A,3.75%, 5/1/29 | | | 520,000 | | | | 489,142 | |
4.875%, 1/15/30 | | | 640,000 | | | | 628,023 | |
144A,4.00%, 5/1/31 | | | 714,000 | | | | 659,782 | |
144A,3.625%, 2/15/32 | | | 974,000 | | | | 873,028 | |
144A,6.125%, 4/1/32 | | | 296,000 | | | | 303,479 | |
Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand Vacations Borrower Esc | | | | | | | | |
144A,5.00%, 6/1/29 | | | 544,000 | | | | 514,338 | |
144A,4.875%, 7/1/31 | | | 320,000 | | | | 286,903 | |
144A,6.625%, 1/15/32 | | | 570,000 | | | | 576,870 | |
Hilton Worldwide Finance LLC / Hilton Worldwide Finance Corp.,4.875%, 4/1/27 | | | 362,000 | | | | 360,057 | |
Marriott Ownership Resorts, Inc. | | | | | | | | |
4.75%, 1/15/28 | | | 227,000 | | | | 216,685 | |
144A,4.50%, 6/15/29 (a) | | | 306,000 | | | | 284,650 | |
MGM Resorts International | | | | | | | | |
4.625%, 9/1/26 | | | 245,000 | | | | 241,684 | |
5.50%, 4/15/27 | | | 443,000 | | | | 442,951 | |
4.75%, 10/15/28 | | | 480,000 | | | | 467,213 | |
6.50%, 4/15/32 | | | 480,000 | | | | 483,432 | |
Station Casinos LLC | | | | | | | | |
144A,4.50%, 2/15/28 | | | 453,000 | | | | 434,776 | |
144A,4.625%, 12/1/31 | | | 325,000 | | | | 301,701 | |
144A,6.625%, 3/15/32 | | | 327,000 | | | | 333,564 | |
Travel + Leisure Co. | | | | | | | | |
6.60%, 10/1/25 | | | 214,000 | | | | 216,421 | |
144A,6.625%, 7/31/26 | | | 398,000 | | | | 405,082 | |
6.00%, 4/1/27 | | | 256,000 | | | | 256,682 | |
144A,4.50%, 12/1/29 | | | 416,000 | | | | 387,912 | |
See Notes to Financial Statements.
48 | DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield BB-B ex Financials ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,4.625%, 3/1/30 | | | 227,000 | | | | 210,510 | |
Wyndham Hotels & Resorts, Inc.,144A,4.375%, 8/15/28 | | | 306,000 | | | | 292,886 | |
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp.,144A,5.25%, 5/15/27 | | | 577,000 | | | | 573,162 | |
| | |
(Cost $12,075,943) | | | | | | | 12,423,683 | |
| | |
Office Furnishings — 0.1% | | | | | | | | |
Interface, Inc.,144A,5.50%, 12/1/28 | | | 195,000 | | | | 191,047 | |
Steelcase, Inc.,5.125%, 1/18/29 | | | 288,000 | | | | 281,989 | |
| | |
(Cost $449,935) | | | | | | | 473,036 | |
| | |
Retail — 6.0% | | | | | | | | |
1011778 BC ULC / New Red Finance, Inc. | | | | | | | | |
144A,3.875%, 1/15/28 | | | 1,005,000 | | | | 959,713 | |
144A,4.375%, 1/15/28 | | | 469,000 | | | | 453,398 | |
144A,3.50%, 2/15/29 | | | 489,000 | | | | 455,988 | |
144A,6.125%, 6/15/29 | | | 760,000 | | | | 776,169 | |
144A,4.00%, 10/15/30 | | | 1,857,000 | | | | 1,700,977 | |
Academy Ltd.,144A,6.00%, 11/15/27 | | | 255,000 | | | | 254,025 | |
Advance Auto Parts, Inc. | | | | | | | | |
5.90%, 3/9/26 | | | 192,000 | | | | 193,621 | |
1.75%, 10/1/27 | | | 224,000 | | | | 200,415 | |
5.95%, 3/9/28 | | | 188,000 | | | | 190,230 | |
3.90%, 4/15/30 | | | 333,000 | | | | 306,045 | |
3.50%, 3/15/32 | | | 219,000 | | | | 189,706 | |
Arko Corp.,144A,5.125%, 11/15/29 | | | 292,000 | | | | 259,349 | |
Asbury Automotive Group, Inc. | | | | | | | | |
4.50%, 3/1/28 | | | 268,000 | | | | 258,978 | |
144A,4.625%, 11/15/29 | | | 520,000 | | | | 495,073 | |
4.75%, 3/1/30 | | | 273,000 | | | | 260,862 | |
144A,5.00%, 2/15/32 | | | 384,000 | | | | 361,671 | |
Bath & Body Works, Inc. | | | | | | | | |
6.694%, 1/15/27 | | | 182,000 | | | | 187,419 | |
5.25%, 2/1/28 | | | 292,000 | | | | 287,802 | |
7.50%, 6/15/29 (a) | | | 306,000 | | | | 316,349 | |
144A,6.625%, 10/1/30 | | | 541,000 | | | | 547,759 | |
6.95%, 3/1/33 | | | 231,000 | | | | 231,088 | |
6.875%, 11/1/35 | | | 508,000 | | | | 524,688 | |
6.75%, 7/1/36 | | | 355,000 | | | | 363,716 | |
Beacon Roofing Supply, Inc. | | | | | | | | |
144A,4.50%, 11/15/26 | | | 184,000 | | | | 180,613 | |
144A,4.125%, 5/15/29 | | | 214,000 | | | | 199,692 | |
144A,6.50%, 8/1/30 | | | 384,000 | | | | 394,336 | |
Bloomin’ Brands, Inc. / OSI Restaurant Partners LLC,144A,5.125%, 4/15/29 | | | 192,000 | | | | 176,183 | |
BlueLinx Holdings, Inc.,144A,6.00%, 11/15/29 | | | 204,000 | | | | 196,212 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Brinker International, Inc.,144A,8.25%, 7/15/30 | | | 224,000 | | | | 238,131 | |
CEC Entertainment LLC,144A,6.75%, 5/1/26 | | | 422,000 | | | | 420,597 | |
Cougar JV Subsidiary LLC,
144A,8.00%, 5/15/32 | | | 438,000 | | | | 461,980 | |
Dave & Buster’s, Inc.,144A,7.625%, 11/1/25 | | | 282,000 | | | | 283,284 | |
eG Global Finance PLC,144A,12.00%, 11/30/28 | | | 704,000 | | | | 767,939 | |
Evergreen Acqco 1 LP / TVI, Inc.,144A,9.75%, 4/26/28 | | | 273,000 | | | | 287,975 | |
Ferrellgas LP / Ferrellgas Finance Corp. | | | | | | | | |
144A,5.375%, 4/1/26 | | | 428,000 | | | | 429,260 | |
144A,5.875%, 4/1/29 | | | 528,000 | | | | 495,003 | |
Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc.,144A,4.625%, 1/15/29 | | | 650,000 | | | | 608,077 | |
Foot Locker, Inc.,144A,4.00%, 10/1/29 (a) | | | 245,000 | | | | 213,283 | |
Gap, Inc. | | | | | | | | |
144A,3.625%, 10/1/29 | | | 481,000 | | | | 431,021 | |
144A,3.875%, 10/1/31 | | | 486,000 | | | | 419,844 | |
Global Auto Holdings Ltd. / AAG FH UK Ltd. | | | | | | | | |
144A,8.375%, 1/15/29 | | | 350,000 | | | | 345,011 | |
144A,8.75%, 1/15/32 | | | 320,000 | | | | 306,407 | |
Group 1 Automotive, Inc. | | | | | | | | |
144A,4.00%, 8/15/28 | | | 480,000 | | | | 454,017 | |
144A,6.375%, 1/15/30 | | | 300,000 | | | | 305,194 | |
GYP Holdings III Corp.,144A,4.625%, 5/1/29 | | | 227,000 | | | | 211,895 | |
Ken Garff Automotive LLC,144A,4.875%, 9/15/28 | | | 259,000 | | | | 250,985 | |
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC,144A,4.75%, 6/1/27 | | | 459,000 | | | | 452,735 | |
Kohl’s Corp. | | | | | | | | |
4.625%, 5/1/31 | | | 331,000 | | | | 273,465 | |
5.55%, 7/17/45 | | | 261,000 | | | | 168,997 | |
LCM Investments Holdings II LLC | | | | | | | | |
144A,4.875%, 5/1/29 | | | 640,000 | | | | 609,666 | |
144A,8.25%, 8/1/31 | | | 546,000 | | | | 580,536 | |
Lithia Motors, Inc. | | | | | | | | |
144A,4.625%, 12/15/27 | | | 245,000 | | | | 238,353 | |
144A,3.875%, 6/1/29 | | | 521,000 | | | | 483,214 | |
144A,4.375%, 1/15/31 | | | 357,000 | | | | 328,833 | |
Macy’s Retail Holdings LLC | | | | | | | | |
144A,5.875%, 4/1/29 (a) | | | 306,000 | | | | 299,703 | |
144A,5.875%, 3/15/30 | | | 272,000 | | | | 263,762 | |
144A,6.125%, 3/15/32 | | | 286,000 | | | | 273,571 | |
4.50%, 12/15/34 | | | 235,000 | | | | 194,373 | |
See Notes to Financial Statements.
DBX ETF Trust | 49
Schedule of Investments
Xtrackers USD High Yield BB-B ex Financials ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
5.125%, 1/15/42 | | | 173,000 | | | | 131,727 | |
4.30%, 2/15/43 | | | 163,000 | | | | 110,771 | |
Marks & Spencer PLC,144A,7.125%, 12/1/37 | | | 184,000 | | | | 197,140 | |
Michaels Cos., Inc.,144A,5.25%, 5/1/28 | | | 552,000 | | | | 433,399 | |
Murphy Oil USA, Inc. | | | | | | | | |
5.625%, 5/1/27 | | | 192,000 | | | | 190,982 | |
4.75%, 9/15/29 | | | 306,000 | | | | 296,876 | |
144A,3.75%, 2/15/31 | | | 320,000 | | | | 289,524 | |
Nordstrom, Inc. | | | | | | | | |
4.00%, 3/15/27 | | | 224,000 | | | | 215,908 | |
6.95%, 3/15/28 | | | 184,000 | | | | 190,114 | |
4.375%, 4/1/30 | | | 320,000 | | | | 293,869 | |
4.25%, 8/1/31 | | | 272,000 | | | | 242,032 | |
5.00%, 1/15/44 | | | 626,000 | | | | 496,559 | |
Papa John’s International, Inc.,144A,3.875%, 9/15/29 | | | 246,000 | | | | 224,959 | |
Patrick Industries, Inc. | | | | | | | | |
144A,7.50%, 10/15/27 | | | 184,000 | | | | 184,657 | |
144A,4.75%, 5/1/29 | | | 214,000 | | | | 200,873 | |
Penske Automotive Group, Inc. | | | | | | | | |
3.50%, 9/1/25 | | | 352,000 | | | | 346,477 | |
3.75%, 6/15/29 (a) | | | 306,000 | | | | 284,812 | |
PetSmart, Inc. / PetSmart Finance Corp. | | | | | | | | |
144A,4.75%, 2/15/28 | | | 768,000 | | | | 734,551 | |
144A,7.75%, 2/15/29 | | | 727,000 | | | | 715,822 | |
QVC, Inc. | | | | | | | | |
4.75%, 2/15/27 | | | 368,000 | | | | 322,309 | |
4.375%, 9/1/28 | | | 320,000 | | | | 240,798 | |
5.45%, 8/15/34 | | | 255,000 | | | | 156,786 | |
5.95%, 3/15/43 | | | 184,000 | | | | 110,394 | |
Raising Cane’s Restaurants LLC,144A,9.375%, 5/1/29 | | | 306,000 | | | | 330,275 | |
Sally Holdings LLC / Sally Capital, Inc.,6.75%, 3/1/32 (a) | | | 376,000 | | | | 383,547 | |
Sizzling Platter LLC / Sizzling Platter Finance Corp.,144A,8.50%, 11/28/25 | | | 214,000 | | | | 215,405 | |
Sonic Automotive, Inc. | | | | | | | | |
144A,4.625%, 11/15/29 | | | 416,000 | | | | 388,764 | |
144A,4.875%, 11/15/31 | | | 326,000 | | | | 298,533 | |
Specialty Building Products Holdings LLC / SBP Finance Corp.,144A,6.375%, 9/30/26 | | | 444,000 | | | | 441,532 | |
Staples, Inc.,144A,10.75%, 9/1/29 | | | 1,521,000 | | | | 1,432,637 | |
Suburban Propane Partners LP/ Suburban Energy Finance Corp. | | | | | | | | |
5.875%, 3/1/27 | | | 214,000 | | | | 213,090 | |
144A,5.00%, 6/1/31 | | | 428,000 | | | | 392,791 | |
Superior Plus LP / Superior General Partner, Inc.,144A,4.50%, 3/15/29 | | | 384,000 | | | | 359,267 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Victoria’s Secret & Co.,144A,4.625%, 7/15/29 (a) | | | 384,000 | | | | 334,637 | |
Victra Holdings LLC / Victra Finance Corp.,144A,7.75%, 2/15/26 | | | 472,000 | | | | 474,044 | |
Vivo Energy Investments BV,144A,5.125%, 9/24/27 | | | 221,000 | | | | 212,182 | |
Walgreens Boots Alliance, Inc. | | | | | | | | |
3.45%, 6/1/26 | | | 930,000 | | | | 884,927 | |
8.125%, 8/15/29 | | | 470,000 | | | | 470,811 | |
3.20%, 4/15/30 | | | 313,000 | | | | 251,961 | |
4.50%, 11/18/34 | | | 200,000 | | | | 156,164 | |
4.80%, 11/18/44 | | | 422,000 | | | | 315,413 | |
4.65%, 6/1/46 | | | 195,000 | | | | 130,844 | |
4.10%, 4/15/50 | | | 415,000 | | | | 269,936 | |
Yum! Brands, Inc. | | | | | | | | |
144A,4.75%, 1/15/30 | | | 512,000 | | | | 502,365 | |
3.625%, 3/15/31 | | | 672,000 | | | | 616,783 | |
4.625%, 1/31/32 | | | 704,000 | | | | 667,229 | |
5.375%, 4/1/32 | | | 653,000 | | | | 647,367 | |
6.875%, 11/15/37 | | | 211,000 | | | | 235,727 | |
5.35%, 11/1/43 | | | 174,000 | | | | 168,210 | |
| | |
(Cost $38,501,340) | | | | | | | 39,424,968 | |
| | |
Consumer, Non-cyclical — 16.4% | | | | | | | | |
Agriculture — 0.3% | | | | | | | | |
Darling Ingredients, Inc. | | | | | | | | |
144A,5.25%, 4/15/27 | | | 306,000 | | | | 304,410 | |
144A,6.00%, 6/15/30 | | | 649,000 | | | | 656,944 | |
Turning Point Brands, Inc.,144A,5.625%, 2/15/26 | | | 153,000 | | | | 151,928 | |
Vector Group Ltd. | | | | | | | | |
144A,10.50%, 11/1/26 | | | 250,000 | | | | 253,266 | |
144A,5.75%, 2/1/29 | | | 570,000 | | | | 577,836 | |
| | |
(Cost $1,854,045) | | | | | | | 1,944,384 | |
| | |
Beverages — 0.1% | | | | | | | | |
Primo Water Holdings, Inc.,144A,4.375%, 4/30/29 | | | | | | | | |
| | |
(Cost $442,185) | | | 480,000 | | | | 455,732 | |
| | |
Commercial Services — 4.5% | | | | | | | | |
ADT Security Corp. | | | | | | | | |
144A,4.125%, 8/1/29 | | | 616,000 | | | | 584,981 | |
144A,4.875%, 7/15/32 | | | 466,000 | | | | 442,974 | |
Adtalem Global Education, Inc.,144A,5.50%, 3/1/28 | | | 268,000 | | | | 263,552 | |
Albion Financing 1 SARL / Aggreko Holdings, Inc.,144A,6.125%, 10/15/26 | | | 366,000 | | | | 364,908 | |
Albion Financing 2 SARL,144A,8.75%, 4/15/27 (a) | | | 276,000 | | | | 282,055 | |
Allied Universal Holdco LLC,144A,7.875%, 2/15/31 | | | 1,505,000 | | | | 1,528,002 | |
See Notes to Financial Statements.
50 | DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield BB-B ex Financials ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Allied Universal Holdco LLC / Allied Universal Finance Corp. / Atlas Luxco 4 SARL,144A,4.625%, 6/1/28 | | | 775,000 | | | | 718,765 | |
Allied Universal Holdco LLC/ Allied Universal Finance Corp/Atlas Luxco 4 SARL,144A,4.625%, 6/1/28 | | | 496,000 | | | | 459,339 | |
Alta Equipment Group, Inc.,144A,9.00%, 6/1/29 | | | 320,000 | | | | 290,762 | |
AMN Healthcare, Inc. | | | | | | | | |
144A,4.625%, 10/1/27 | | | 326,000 | | | | 318,387 | |
144A,4.00%, 4/15/29 | | | 214,000 | | | | 199,621 | |
APi Group DE, Inc. | | | | | | | | |
144A,4.125%, 7/15/29 | | | 206,000 | | | | 193,642 | |
144A,4.75%, 10/15/29 | | | 178,000 | | | | 170,231 | |
APX Group, Inc. | | | | | | | | |
144A,6.75%, 2/15/27 | | | 407,000 | | | | 407,759 | |
144A,5.75%, 7/15/29 | | | 512,000 | | | | 507,290 | |
Avis Budget Car Rental LLC / Avis Budget Finance, Inc. | | | | | | | | |
144A,5.75%, 7/15/27 | | | 256,000 | | | | 250,132 | |
144A,5.75%, 7/15/27 | | | 234,000 | | | | 228,029 | |
144A,4.75%, 4/1/28 (a) | | | 320,000 | | | | 296,731 | |
144A,5.375%, 3/1/29 (a) | | | 386,000 | | | | 353,668 | |
144A,8.00%, 2/15/31 (a) | | | 324,000 | | | | 322,157 | |
Brink’s Co. | | | | | | | | |
144A,4.625%, 10/15/27 | | | 397,000 | | | | 387,781 | |
144A,6.50%, 6/15/29 | | | 250,000 | | | | 258,685 | |
144A,6.75%, 6/15/32 | | | 260,000 | | | | 270,456 | |
Carriage Services, Inc.,144A,4.25%, 5/15/29 | | | 256,000 | | | | 236,370 | |
Champions Financing, Inc.,144A,8.75%, 2/15/29 | | | 380,000 | | | | 389,750 | |
Cimpress PLC,7.00%, 6/15/26 | | | 331,000 | | | | 329,947 | |
CoreCivic, Inc.,8.25%, 4/15/29 | | | 317,000 | | | | 334,409 | |
Garda World Security Corp. 144A,4.625%, 2/15/27 | | | 375,000 | | | | 365,626 | |
144A,7.75%, 2/15/28 | | | 255,000 | | | | 266,816 | |
GEO Group, Inc. | | | | | | | | |
144A,8.625%, 4/15/29 | | | 400,000 | | | | 414,949 | |
144A,10.25%, 4/15/31 | | | 400,000 | | | | 422,593 | |
Graham Holdings Co.,144A,5.75%, 6/1/26 | | | 145,000 | | | | 145,381 | |
Grand Canyon University,5.125%, 10/1/28 | | | 249,000 | | | | 230,032 | |
Herc Holdings, Inc. | | | | | | | | |
144A,5.50%, 7/15/27 | | | 788,000 | | | | 782,242 | |
144A,6.625%, 6/15/29 | | | 515,000 | | | | 529,699 | |
Hertz Corp.,144A,12.625%, 7/15/29 (a) | | | 480,000 | | | | 511,282 | |
Korn Ferry,144A,4.625%, 12/15/27 | | | 245,000 | | | | 238,638 | |
Matthews International Corp.,144A,5.25%, 12/1/25 | | | 184,000 | | | | 180,592 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
NESCO Holdings II, Inc.,144A,5.50%, 4/15/29 | | | 589,000 | | | | 543,833 | |
Port of Newcastle Investments Financing Pty Ltd.,144A,5.90%, 11/24/31 | | | 184,000 | | | | 170,426 | |
Prime Security Services Borrower LLC / Prime Finance, Inc. | | | | | | | | |
144A,5.75%, 4/15/26 | | | 853,000 | | | | 854,603 | |
144A,3.375%, 8/31/27 | | | 666,000 | | | | 630,566 | |
144A,6.25%, 1/15/28 | | | 862,000 | | | | 858,705 | |
RR Donnelley & Sons Co. | | | | | | | | |
144A,9.50%, 8/1/29 | | | 680,000 | | | | 673,688 | |
144A,10.875%, 8/1/29 | | | 310,000 | | | | 303,407 | |
Service Corp. International | | | | | | | | |
4.625%, 12/15/27 | | | 367,000 | | | | 360,097 | |
5.125%, 6/1/29 | | | 509,000 | | | | 502,996 | |
3.375%, 8/15/30 | | | 521,000 | | | | 467,552 | |
4.00%, 5/15/31 | | | 531,000 | | | | 487,277 | |
Sotheby’s,144A,7.375%, 10/15/27 | | | 490,000 | | | | 467,924 | |
Sotheby’s/Bidfair Holdings, Inc.,144A,5.875%, 6/1/29 | | | 184,000 | | | | 158,546 | |
TriNet Group, Inc. | | | | | | | | |
144A,3.50%, 3/1/29 | | | 320,000 | | | | 296,025 | |
144A,7.125%, 8/15/31 | | | 245,000 | | | | 254,089 | |
United Rentals North America, Inc. | | | | | | | | |
5.50%, 5/15/27 | | | 326,000 | | | | 326,100 | |
3.875%, 11/15/27 | | | 489,000 | | | | 471,947 | |
4.875%, 1/15/28 | | | 1,069,000 | | | | 1,054,489 | |
5.25%, 1/15/30 | | | 486,000 | | | | 482,188 | |
4.00%, 7/15/30 | | | 459,000 | | | | 429,184 | |
3.875%, 2/15/31 | | | 706,000 | | | | 651,611 | |
3.75%, 1/15/32 | | | 459,000 | | | | 414,267 | |
144A,6.125%, 3/15/34 | | | 704,000 | | | | 719,121 | |
Upbound Group, Inc.,144A,6.375%, 2/15/29 | | | 276,000 | | | | 269,222 | |
Valvoline, Inc.,144A,3.625%, 6/15/31 | | | 338,000 | | | | 301,016 | |
VM Consolidated, Inc.,144A,5.50%, 4/15/29 | | | 224,000 | | | | 218,002 | |
VT Topco, Inc.,144A,8.50%, 8/15/30 | | | 310,000 | | | | 325,935 | |
Wand NewCo 3, Inc.,144A,7.625%, 1/30/32 | | | 784,000 | | | | 821,342 | |
WASH Multifamily Acquisition, Inc.,144A,5.75%, 4/15/26 | | | 544,000 | | | | 541,501 | |
Williams Scotsman, Inc. | | | | | | | | |
144A,4.625%, 8/15/28 | | | 326,000 | | | | 314,353 | |
144A,6.625%, 6/15/29 | | | 330,000 | | | | 340,704 | |
144A,7.375%, 10/1/31 | | | 320,000 | | | | 336,358 | |
ZipRecruiter, Inc.,144A,5.00%, 1/15/30 | | | 357,000 | | | | 319,756 | |
| | |
(Cost $29,241,993) | | | | | | | 29,845,063 | |
See Notes to Financial Statements.
DBX ETF Trust | 51
Schedule of Investments
Xtrackers USD High Yield BB-B ex Financials ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Cosmetics/Personal Care — 0.6% | | | | | | | | |
Coty, Inc.,144A,5.00%, 4/15/26 | | | 438,000 | | | | 435,989 | |
Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International US LLC | | | | | | | | |
144A,4.75%, 1/15/29 | | | 326,000 | | | | 317,414 | |
144A,6.625%, 7/15/30 | | | 499,000 | | | | 516,796 | |
Edgewell Personal Care Co. | | | | | | | | |
144A,5.50%, 6/1/28 | | | 459,000 | | | | 455,317 | |
144A,4.125%, 4/1/29 | | | 320,000 | | | | 303,278 | |
Perrigo Finance Unlimited Co. | | | | | | | | |
4.375%, 3/15/26 | | | 449,000 | | | | 442,230 | |
4.90%, 6/15/30 | | | 479,000 | | | | 462,939 | |
4.90%, 12/15/44 | | | 195,000 | | | | 160,878 | |
Prestige Brands, Inc. | | | | | | | | |
144A,5.125%, 1/15/28 | | | 251,000 | | | | 247,334 | |
144A,3.75%, 4/1/31 | | | 387,000 | | | | 350,740 | |
| | |
(Cost $3,573,209) | | | | | | | 3,692,915 | |
| | |
Food — 2.6% | | | | | | | | |
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC | | | | | | | | |
144A,3.25%, 3/15/26 | | | 509,000 | | | | 491,731 | |
144A,7.50%, 3/15/26 | | | 337,000 | | | | 340,836 | |
144A,4.625%, 1/15/27 | | | 846,000 | | | | 826,560 | |
144A,5.875%, 2/15/28 | | | 486,000 | | | | 484,792 | |
144A,6.50%, 2/15/28 | | | 450,000 | | | | 455,796 | |
144A,3.50%, 3/15/29 | | | 884,000 | | | | 818,716 | |
144A,4.875%, 2/15/30 | | | 640,000 | | | | 625,512 | |
B&G Foods, Inc.,144A,8.00%, 9/15/28 | | | 511,000 | | | | 531,255 | |
C&S Group Enterprises LLC,144A,5.00%, 12/15/28 | | | 261,000 | | | | 197,160 | |
Chobani LLC / Chobani Finance Corp., Inc.,144A,4.625%, 11/15/28 | | | 280,000 | | | | 270,570 | |
Fiesta Purchaser, Inc.,144A,7.875%, 3/1/31 | | | 320,000 | | | | 336,640 | |
Ingles Markets, Inc.,144A,4.00%, 6/15/31 | | | 234,000 | | | | 210,145 | |
KeHE Distributors LLC / KeHE Finance Corp. / NextWave Distribution, Inc.,144A,9.00%, 2/15/29 | | | 474,000 | | | | 494,513 | |
Lamb Weston Holdings, Inc. | | | | | | | | |
144A,4.875%, 5/15/28 | | | 306,000 | | | | 301,094 | |
144A,4.125%, 1/31/30 | | | 621,000 | | | | 578,048 | |
144A,4.375%, 1/31/32 | | | 459,000 | | | | 422,797 | |
Performance Food Group, Inc. | | | | | | | | |
144A,5.50%, 10/15/27 | | | 679,000 | | | | 675,131 | |
144A,4.25%, 8/1/29 | | | 640,000 | | | | 603,990 | |
Pilgrim’s Pride Corp. | | | | | | | | |
4.25%, 4/15/31 | | | 554,000 | | | | 522,228 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
3.50%, 3/1/32 | | | 544,000 | | | | 481,055 | |
6.25%, 7/1/33 | | | 628,000 | | | | 663,970 | |
6.875%, 5/15/34 | | | 320,000 | | | | 353,732 | |
Post Holdings, Inc. | | | | | | | | |
144A,5.625%, 1/15/28 | | | 234,000 | | | | 233,395 | |
144A,5.50%, 12/15/29 | | | 791,000 | | | | 777,410 | |
144A,4.625%, 4/15/30 | | | 887,000 | | | | 843,013 | |
144A,4.50%, 9/15/31 | | | 628,000 | | | | 584,356 | |
144A,6.25%, 2/15/32 | | | 649,000 | | | | 665,557 | |
144A,6.375%, 3/1/33 | | | 780,000 | | | | 785,694 | |
Safeway, Inc.,7.25%, 2/1/31 | | | 169,000 | | | | 174,395 | |
Simmons Foods Inc/Simmons Prepared Foods Inc/Simmons Pet Food Inc/Simmons Feed,144A,4.625%, 3/1/29 | | | 541,000 | | | | 508,738 | |
US Foods, Inc. | | | | | | | | |
144A,6.875%, 9/15/28 | | | 306,000 | | | | 318,309 | |
144A,4.75%, 2/15/29 | | | 584,000 | | | | 569,427 | |
144A,4.625%, 6/1/30 | | | 320,000 | | | | 306,300 | |
144A,7.25%, 1/15/32 | | | 306,000 | | | | 323,002 | |
| | |
(Cost $16,340,960) | | | | | | | 16,775,867 | |
| | |
Healthcare-Products — 1.5% | | | | | | | | |
Avantor Funding, Inc. | | | | | | | | |
144A,4.625%, 7/15/28 | | | 1,005,000 | | | | 978,035 | |
144A,3.875%, 11/1/29 | | | 520,000 | | | | 485,920 | |
Bausch + Lomb Corp.,144A,8.375%, 10/1/28 | | | 908,000 | | | | 953,595 | |
Embecta Corp.,144A,5.00%, 2/15/30 | | | 320,000 | | | | 288,515 | |
Garden Spinco Corp.,144A,8.625%, 7/20/30 | | | 234,000 | | | | 255,344 | |
Hologic, Inc. | | | | | | | | |
144A,4.625%, 2/1/28 | | | 265,000 | | | | 258,783 | |
144A,3.25%, 2/15/29 | | | 622,000 | | | | 574,442 | |
Medline Borrower LP | | | | | | | | |
144A,3.875%, 4/1/29 | | | 2,882,000 | | | | 2,722,246 | |
144A,5.25%, 10/1/29 | | | 1,601,000 | | | | 1,572,401 | |
Medline Borrower LP/Medline Co.-Issuer, Inc.,144A,6.25%, 4/1/29 | | | 940,000 | | | | 968,975 | |
Sotera Health Holdings LLC,144A,7.375%, 6/1/31 | | | 480,000 | | | | 502,002 | |
Teleflex, Inc. | | | | | | | | |
4.625%, 11/15/27 | | | 324,000 | | | | 317,783 | |
144A,4.25%, 6/1/28 | | | 326,000 | | | | 313,292 | |
| | |
(Cost $9,861,978) | | | | | | | 10,191,333 | |
| | |
Healthcare-Services — 4.8% | | | | | | | | |
Acadia Healthcare Co., Inc. | | | | | | | | |
144A,5.50%, 7/1/28 | | | 296,000 | | | | 293,731 | |
144A,5.00%, 4/15/29 | | | 311,000 | | | | 303,049 | |
Catalent Pharma Solutions, Inc. | | | | | | | | |
144A,5.00%, 7/15/27 | | | 324,000 | | | | 322,228 | |
144A,3.125%, 2/15/29 | | | 337,000 | | | | 328,674 | |
See Notes to Financial Statements.
52 | DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield BB-B ex Financials ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,3.50%, 4/1/30 | | | 426,000 | | | | 416,001 | |
Charles River Laboratories International, Inc. | | | | | | | | |
144A,4.25%, 5/1/28 | | | 330,000 | | | | 318,190 | |
144A,3.75%, 3/15/29 | | | 326,000 | | | | 305,480 | |
144A,4.00%, 3/15/31 | | | 328,000 | | | | 301,849 | |
CHS/Community Health Systems, Inc. | | | | | | | | |
144A,5.625%, 3/15/27 | | | 1,191,000 | | | | 1,152,587 | |
144A,8.00%, 12/15/27 | | | 429,000 | | | | 429,736 | |
144A,6.00%, 1/15/29 | | | 381,000 | | | | 361,461 | |
144A,5.25%, 5/15/30 | | | 971,000 | | | | 870,632 | |
144A,4.75%, 2/15/31 | | | 677,000 | | | | 577,430 | |
144A,10.875%, 1/15/32 | | | 1,467,000 | | | | 1,588,058 | |
Concentra Escrow Issuer Corp.,144A,6.875%, 7/15/32 | | | 416,000 | | | | 435,174 | |
DaVita, Inc. | | | | | | | | |
144A,4.625%, 6/1/30 | | | 1,761,000 | | | | 1,660,446 | |
144A,3.75%, 2/15/31 | | | 961,000 | | | | 855,387 | |
144A,6.875%, 9/1/32 | | | 630,000 | | | | 644,527 | |
Encompass Health Corp. | | | | | | | | |
4.50%, 2/1/28 | | | 512,000 | | | | 500,564 | |
4.75%, 2/1/30 | | | 512,000 | | | | 496,407 | |
4.625%, 4/1/31 | | | 255,000 | | | | 241,457 | |
Fortrea Holdings, Inc.,144A,7.50%, 7/1/30 | | | 349,000 | | | | 355,818 | |
Global Medical Response, Inc.,144A,10.00%, 10/31/28 | | | 375,000 | | | | 374,044 | |
HealthEquity, Inc.,144A,4.50%, 10/1/29 | | | 397,000 | | | | 378,866 | |
Heartland Dental LLC / Heartland Dental Finance Corp.,144A,10.50%, 4/30/28 | | | 459,000 | | | | 491,611 | |
IQVIA, Inc. | | | | | | | | |
144A,5.00%, 10/15/26 | | | 663,000 | | | | 658,415 | |
144A,5.00%, 5/15/27 | | | 714,000 | | | | 708,838 | |
144A,6.50%, 5/15/30 | | | 320,000 | | | | 331,992 | |
Kedrion SpA,144A,6.50%, 9/1/29 | | | 507,000 | | | | 476,580 | |
Legacy LifePoint Health LLC,144A,4.375%, 2/15/27 | | | 367,000 | | | | 358,035 | |
LifePoint Health, Inc. | | | | | | | | |
144A,9.875%, 8/15/30 | | | 512,000 | | | | 561,501 | |
144A,11.00%, 10/15/30 | | | 696,000 | | | | 784,389 | |
Molina Healthcare, Inc. | | | | | | | | |
144A,4.375%, 6/15/28 | | | 512,000 | | | | 492,622 | |
144A,3.875%, 11/15/30 | | | 418,000 | | | | 384,329 | |
144A,3.875%, 5/15/32 | | | 480,000 | | | | 430,670 | |
Pediatrix Medical Group, Inc.,144A,5.375%, 2/15/30 (a) | | | 245,000 | | | | 234,288 | |
Prime Healthcare Services, Inc.,144A,9.375%, 9/1/29 | | | 975,000 | | | | 982,884 | |
Radiology Partners, Inc.,144A,4.275% Cash 3.50% PIK, PIK, 1/31/29 | | | 454,943 | | | | 437,314 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Select Medical Corp.,144A,6.25%, 8/15/26 | | | 780,000 | | | | 783,855 | |
Star Parent, Inc.,144A,9.00%, 10/1/30 | | | 640,000 | | | | 683,217 | |
Tenet Healthcare Corp. | | | | | | | | |
6.25%, 2/1/27 | | | 869,000 | | | | 870,637 | |
5.125%, 11/1/27 | | | 961,000 | | | | 952,637 | |
4.625%, 6/15/28 | | | 368,000 | | | | 359,596 | |
6.125%, 10/1/28 | | | 1,601,000 | | | | 1,603,946 | |
4.25%, 6/1/29 | | | 896,000 | | | | 859,790 | |
4.375%, 1/15/30 | | | 928,000 | | | | 887,219 | |
6.125%, 6/15/30 | | | 1,265,000 | | | | 1,284,218 | |
6.75%, 5/15/31 | | | 864,000 | | | | 895,727 | |
6.875%, 11/15/31 | | | 231,000 | | | | 251,394 | |
Toledo Hospital | | | | | | | | |
Series B, 5.325%, 11/15/28 | | | 200,000 | | | | 196,500 | |
4.982%, 11/15/45 | | | 171,000 | | | | 131,884 | |
6.015%, 11/15/48 | | | 265,000 | | | | 242,995 | |
US Acute Care Solutions LLC,144A,9.75%, 5/15/29 | | | 504,000 | | | | 515,596 | |
| | |
(Cost $29,991,433) | | | | | | | 31,364,475 | |
| | |
Household Products/Wares — 0.2% | | | | | | | | |
ACCO Brands Corp.,144A,4.25%, 3/15/29 | | | 352,000 | | | | 327,728 | |
Central Garden & Pet Co. | | | | | | | | |
5.125%, 2/1/28 | | | 184,000 | | | | 181,697 | |
4.125%, 10/15/30 | | | 324,000 | | | | 297,699 | |
144A,4.125%, 4/30/31 | | | 245,000 | | | | 222,006 | |
Kronos Acquisition Holdings, Inc.,144A,8.25%, 6/30/31 | | | 340,000 | | | | 349,850 | |
| | |
(Cost $1,331,678) | | | | | | | 1,378,980 | |
| | |
Pharmaceuticals — 1.8% | | | | | | | | |
180 Medical, Inc.,144A,3.875%, 10/15/29 | | | 326,000 | | | | 305,705 | |
AdaptHealth LLC | | | | | | | | |
144A,6.125%, 8/1/28 | | | 219,000 | | | | 217,066 | |
144A,4.625%, 8/1/29 | | | 320,000 | | | | 292,005 | |
144A,5.125%, 3/1/30 | | | 387,000 | | | | 353,843 | |
Bausch Health Cos., Inc. | | | | | | | | |
144A,5.50%, 11/1/25 | | | 1,090,000 | | | | 1,049,250 | |
144A,6.125%, 2/1/27 | | | 654,000 | | | | 558,415 | |
144A,4.875%, 6/1/28 | | | 1,019,000 | | | | 761,193 | |
BellRing Brands, Inc.,144A,7.00%, 3/15/30 | | | 549,000 | | | | 570,181 | |
Cheplapharm Arzneimittel GmbH,144A,5.50%, 1/15/28 | | | 326,000 | | | | 313,109 | |
Elanco Animal Health, Inc.,6.65%, 8/28/28 | | | 467,000 | | | | 483,590 | |
Endo Finance Holdings, Inc.,144A,8.50%, 4/15/31 (a) | | | 649,000 | | | | 689,096 | |
Herbalife Nutrition Ltd / HLF Financing, Inc.,144A,7.875%, 9/1/25 | | | 168,000 | | | | 167,255 | |
See Notes to Financial Statements.
DBX ETF Trust | 53
Schedule of Investments
Xtrackers USD High Yield BB-B ex Financials ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
HLF Financing Sarl LLC / Herbalife International, Inc,144A,12.25%, 4/15/29 | | | 520,000 | | | | 519,895 | |
Jazz Securities DAC,144A,4.375%, 1/15/29 | | | 961,000 | | | | 914,555 | |
Mallinckrodt International Finance SA / Mallinckrodt CB LLC,144A,14.75%, 11/14/28 | | | 505,000 | | | | 550,991 | |
Option Care Health, Inc.,144A,4.375%, 10/31/29 | | | 326,000 | | | | 309,224 | |
Organon & Co. / Organon Foreign Debt Co.-Issuer BV | | | | | | | | |
144A,4.125%, 4/30/28 | | | 1,358,000 | | | | 1,298,273 | |
144A,5.125%, 4/30/31 | | | 1,281,000 | | | | 1,199,713 | |
144A,6.75%, 5/15/34 | | | 320,000 | | | | 331,627 | |
144A,7.875%, 5/15/34 | | | 304,000 | | | | 320,318 | |
Owens & Minor, Inc. | | | | | | | | |
144A,4.50%, 3/31/29 | | | 313,000 | | | | 284,831 | |
144A,6.625%, 4/1/30 (a) | | | 354,000 | | | | 342,595 | |
| | |
(Cost $11,353,727) | | | | | | | 11,832,730 | |
| | |
Diversified — 0.1% | | | | | | | | |
Holding Companies-Diversified — 0.1% | | | | | | | | |
Benteler International AG,144A,10.50%, 5/15/28 | | | 306,000 | | | | 325,867 | |
Stena International SA | | | | | | | | |
144A,7.25%, 1/15/31 | | | 461,000 | | | | 474,664 | |
144A,7.625%, 2/15/31 | | | 253,000 | | | | 261,390 | |
| | |
(Cost $1,032,159) | | | | | | | 1,061,921 | |
| | |
Energy — 14.8% | | | | | | | | |
Coal — 0.1% | | | | | | | | |
Alliance Resource Operating Partners LP / Alliance Resource Finance Corp.,144A,8.625%, 6/15/29 | | | 260,000 | | | | 273,343 | |
SunCoke Energy, Inc.,144A,4.875%, 6/30/29 | | | 320,000 | | | | 290,748 | |
| | |
(Cost $553,100) | | | | | | | 564,091 | |
| | |
Energy-Alternate Sources — 0.2% | | | | | | | | |
Sunnova Energy Corp.,144A,5.875%, 9/1/26 | | | 260,000 | | | | 244,257 | |
TerraForm Power Operating LLC | | | | | | | | |
144A,5.00%, 1/31/28 | | | 454,000 | | | | 445,405 | |
144A,4.75%, 1/15/30 | | | 448,000 | | | | 423,068 | |
Topaz Solar Farms LLC,144A,5.75%, 9/30/39 | | | 344,642 | | | | 339,942 | |
| | |
(Cost $1,424,227) | | | | | | | 1,452,672 | |
| | |
Oil & Gas — 7.2% | | | | | | | | |
Aethon United BR LP / Aethon United Finance Corp.,144A,8.25%, 2/15/26 | | | 480,000 | | | | 486,640 | |
Antero Resources Corp. | | | | | | | | |
144A,7.625%, 2/1/29 | | | 261,000 | | | | 270,106 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,5.375%, 3/1/30 | | | 397,000 | | | | 392,190 | |
Ascent Resources Utica Holdings LLC / ARU Finance Corp. | | | | | | | | |
144A,7.00%, 11/1/26 | | | 382,000 | | | | 383,210 | |
144A,9.00%, 11/1/27 | | | 213,000 | | | | 259,677 | |
144A,8.25%, 12/31/28 | | | 328,000 | | | | 337,036 | |
144A,5.875%, 6/30/29 | | | 245,000 | | | | 244,400 | |
Baytex Energy Corp. | | | | | | | | |
144A,8.50%, 4/30/30 | | | 519,000 | | | | 553,040 | |
144A,7.375%, 3/15/32 | | | 374,000 | | | | 387,346 | |
Berry Petroleum Co. LLC,144A,7.00%, 2/15/26 | | | 245,000 | | | | 242,616 | |
Borr IHC Ltd / Borr Finance LLC | | | | | | | | |
144A,10.00%, 11/15/28 | | | 824,683 | | | | 863,771 | |
144A,10.375%, 11/15/30 | | | 336,626 | | | | 359,766 | |
California Resources Corp.,144A,8.25%, 6/15/29 | | | 583,000 | | | | 601,322 | |
Chesapeake Energy Corp. | | | | | | | | |
144A,5.50%, 2/1/26 | | | 320,000 | | | | 319,817 | |
144A,5.875%, 2/1/29 | | | 306,000 | | | | 306,665 | |
144A,6.75%, 4/15/29 | | | 608,000 | | | | 617,085 | |
Chord Energy Corp.,144A,6.375%, 6/1/26 | | | 245,000 | | | | 246,374 | |
CITGO Petroleum Corp. | | | | | | | | |
144A,6.375%, 6/15/26 | | | 408,000 | | | | 410,296 | |
144A,8.375%, 1/15/29 | | | 713,000 | | | | 740,601 | |
Civitas Resources, Inc. | | | | | | | | |
144A,5.00%, 10/15/26 | | | 245,000 | | | | 241,559 | |
144A,8.375%, 7/1/28 | | | 854,000 | | | | 900,341 | |
144A,8.625%, 11/1/30 | | | 640,000 | | | | 695,682 | |
144A,8.75%, 7/1/31 | | | 864,000 | | | | 932,409 | |
CNX Resources Corp. | | | | | | | | |
144A,6.00%, 1/15/29 | | | 316,000 | | | | 316,872 | |
144A,7.375%, 1/15/31 | | | 328,000 | | | | 342,762 | |
144A,7.25%, 3/1/32 | | | 256,000 | | | | 268,051 | |
Comstock Resources, Inc. | | | | | | | | |
144A,6.75%, 3/1/29 | | | 784,000 | | | | 771,174 | |
144A,6.75%, 3/1/29 | | | 256,000 | | | | 251,200 | |
144A,5.875%, 1/15/30 | | | 626,000 | | | | 591,834 | |
Crescent Energy Finance LLC | | | | | | | | |
144A,9.25%, 2/15/28 | | | 632,000 | | | | 670,137 | |
144A,7.625%, 4/1/32 | | | 448,000 | | | | 461,961 | |
144A,7.375%, 1/15/33 | | | 486,000 | | | | 498,496 | |
CrownRock LP / CrownRock Finance, Inc.,144A,5.00%, 5/1/29 | | | 241,000 | | | | 244,324 | |
CVR Energy, Inc. | | | | | | | | |
144A,5.75%, 2/15/28 | | | 256,000 | | | | 241,419 | |
144A,8.50%, 1/15/29 | | | 384,000 | | | | 391,219 | |
Diamond Foreign Asset Co. / Diamond Finance LLC,144A,8.50%, 10/1/30 | | | 352,000 | | | | 371,326 | |
See Notes to Financial Statements.
54 | DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield BB-B ex Financials ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Encino Acquisition Partners Holdings LLC | | | | | | | | |
144A,8.50%, 5/1/28 | | | 448,000 | | | | 461,813 | |
144A,8.75%, 5/1/31 | | | 320,000 | | | | 339,918 | |
Endeavor Energy Resources LP / EER Finance, Inc.,144A,5.75%, 1/30/28 | | | 581,000 | | | | 591,224 | |
Energean PLC,144A,6.50%, 4/30/27 (a) | | | 276,000 | | | | 272,451 | |
EnQuest PLC,144A,11.625%, 11/1/27 | | | 187,000 | | | | 192,413 | |
Gulfport Energy Corp.,144A,8.00%, 5/17/26 | | | 271,000 | | | | 275,273 | |
Harbour Energy PLC,144A,5.50%, 10/15/26 | | | 306,000 | | | | 303,749 | |
Hilcorp Energy I LP / Hilcorp Finance Co. | | | | | | | | |
144A,6.25%, 11/1/28 | | | 397,000 | | | | 399,092 | |
144A,5.75%, 2/1/29 | | | 387,000 | | | | 384,044 | |
144A,6.00%, 4/15/30 | | | 356,000 | | | | 354,170 | |
144A,6.00%, 2/1/31 | | | 394,000 | | | | 389,005 | |
144A,6.25%, 4/15/32 | | | 306,000 | | | | 304,957 | |
144A,8.375%, 11/1/33 | | | 376,000 | | | | 411,790 | |
144A,6.875%, 5/15/34 | | | 320,000 | | | | 323,681 | |
Ithaca Energy North Sea PLC,144A,9.00%, 7/15/26 | | | 383,000 | | | | 389,980 | |
Karoon USA Finance, Inc.,144A,10.50%, 5/14/29 | | | 224,000 | | | | 230,340 | |
Kraken Oil & Gas Partners LLC,144A,7.625%, 8/15/29 | | | 330,000 | | | | 340,110 | |
Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp.,144A,6.00%, 8/1/26 | | | 245,000 | | | | 243,880 | |
Matador Resources Co. | | | | | | | | |
144A,6.875%, 4/15/28 | | | 320,000 | | | | 328,316 | |
144A,6.50%, 4/15/32 | | | 576,000 | | | | 584,574 | |
MEG Energy Corp.,144A,5.875%, 2/1/29 | | | 397,000 | | | | 393,120 | |
Moss Creek Resources Holdings, Inc.,144A,8.25%, 9/1/31 | | | 470,000 | | | | 474,044 | |
Murphy Oil Corp. | | | | | | | | |
5.875%, 12/1/27 | | | 271,000 | | | | 271,587 | |
6.375%, 7/15/28 | | | 228,000 | | | | 230,944 | |
5.875%, 12/1/42 | | | 210,000 | | | | 191,090 | |
Nabors Industries, Inc. | | | | | | | | |
144A,7.375%, 5/15/27 | | | 429,000 | | | | 433,997 | |
144A,9.125%, 1/31/30 | | | 433,000 | | | | 463,999 | |
Noble Finance II LLC,144A,8.00%, 4/15/30 | | | 907,000 | | | | 940,426 | |
Northern Oil & Gas, Inc. | | | | | | | | |
144A,8.125%, 3/1/28 | | | 432,000 | | | | 441,700 | |
144A,8.75%, 6/15/31 | | | 320,000 | | | | 341,799 | |
Parkland Corp. | | | | | | | | |
144A,5.875%, 7/15/27 | | | 324,000 | | | | 323,673 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,4.50%, 10/1/29 | | | 490,000 | | | | 462,548 | |
144A,4.625%, 5/1/30 | | | 519,000 | | | | 485,412 | |
144A,6.625%, 8/15/32 | | | 320,000 | | | | 323,352 | |
PBF Holding Co. LLC / PBF Finance Corp. | | | | | | | | |
6.00%, 2/15/28 (a) | | | 601,000 | | | | 595,098 | |
144A,7.875%, 9/15/30 | | | 306,000 | | | | 318,198 | |
Permian Resources Operating LLC | | | | | | | | |
144A,5.375%, 1/15/26 | | | 177,000 | | | | 176,864 | |
144A,8.00%, 4/15/27 | | | 352,000 | | | | 363,475 | |
144A,5.875%, 7/1/29 | | | 449,000 | | | | 449,051 | |
144A,9.875%, 7/15/31 | | | 326,000 | | | | 365,105 | |
144A,7.00%, 1/15/32 | | | 640,000 | | | | 671,367 | |
144A,6.25%, 2/1/33 | | | 650,000 | | | | 666,513 | |
Precision Drilling Corp.,144A,6.875%, 1/15/29 | | | 256,000 | | | | 259,768 | |
Range Resources Corp. | | | | | | | | |
8.25%, 1/15/29 | | | 387,000 | | | | 401,107 | |
144A,4.75%, 2/15/30 | | | 326,000 | | | | 312,899 | |
Seadrill Finance Ltd.,144A,8.375%, 8/1/30 | | | 372,000 | | | | 392,675 | |
Sitio Royalties Operating Partnership LP / Sitio Finance Corp.,144A,7.875%, 11/1/28 | | | 397,000 | | | | 418,129 | |
SM Energy Co. | | | | | | | | |
6.75%, 9/15/26 | | | 242,000 | | | | 242,227 | |
6.625%, 1/15/27 | | | 255,000 | | | | 255,380 | |
6.50%, 7/15/28 | | | 265,000 | | | | 266,459 | |
144A,6.75%, 8/1/29 | | | 490,000 | | | | 497,647 | |
144A,7.00%, 8/1/32 | | | 470,000 | | | | 481,501 | |
Southwestern Energy Co. | | | | | | | | |
8.375%, 9/15/28 | | | 186,000 | | | | 191,136 | |
5.375%, 2/1/29 | | | 456,000 | | | | 450,177 | |
5.375%, 3/15/30 | | | 768,000 | | | | 761,297 | |
4.75%, 2/1/32 | | | 747,000 | | | | 707,993 | |
Strathcona Resources Ltd/ Alberta,144A,6.875%, 8/1/26 | | | 306,000 | | | | 307,544 | |
Sunoco LP | | | | | | | | |
144A,7.00%, 5/1/29 | | | 480,000 | | | | 500,010 | |
144A,7.25%, 5/1/32 | | | 480,000 | | | | 507,674 | |
Sunoco LP / Sunoco Finance Corp. | | | | | | | | |
6.00%, 4/15/27 | | | 384,000 | | | | 384,556 | |
5.875%, 3/15/28 | | | 264,000 | | | | 264,257 | |
144A,7.00%, 9/15/28 | | | 320,000 | | | | 333,234 | |
4.50%, 5/15/29 | | | 490,000 | | | | 470,452 | |
4.50%, 4/30/30 | | | 512,000 | | | | 486,503 | |
Talos Production, Inc. | | | | | | | | |
144A,9.00%, 2/1/29 | | | 390,000 | | | | 414,309 | |
144A,9.375%, 2/1/31 | | | 400,000 | | | | 427,178 | |
Teine Energy Ltd.,144A,6.875%, 4/15/29 | | | 245,000 | | | | 243,913 | |
See Notes to Financial Statements.
DBX ETF Trust | 55
Schedule of Investments
Xtrackers USD High Yield BB-B ex Financials ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
TGNR Intermediate Holdings LLC,144A,5.50%, 10/15/29 | | | 454,000 | | | | 440,722 | |
Transocean Aquila Ltd.,144A,8.00%, 9/30/28 | | | 209,000 | | | | 214,927 | |
Transocean Poseidon Ltd.,144A,6.875%, 2/1/27 | | | 202,200 | | | | 202,347 | |
Transocean Titan Financing Ltd.,144A,8.375%, 2/1/28 | | | 322,000 | | | | 333,901 | |
Transocean, Inc.,144A,8.75%, 2/15/30 | | | 637,500 | | | | 673,414 | |
Valaris Ltd.,144A,8.375%, 4/30/30 | | | 704,000 | | | | 734,437 | |
Vermilion Energy, Inc.,144A,6.875%, 5/1/30 | | | 259,000 | | | | 260,206 | |
Viper Energy, Inc. | | | | | | | | |
144A,5.375%, 11/1/27 | | | 284,000 | | | | 281,440 | |
144A,7.375%, 11/1/31 | | | 245,000 | | | | 260,155 | |
Vital Energy, Inc. | | | | | | | | |
144A,7.75%, 7/31/29 | | | 183,000 | | | | 185,201 | |
9.75%, 10/15/30 | | | 342,000 | | | | 375,369 | |
144A,7.875%, 4/15/32 | | | 550,000 | | | | 563,084 | |
W&T Offshore, Inc.,144A,11.75%, 2/1/26 | | | 168,000 | | | | 172,417 | |
| | |
(Cost $46,012,108) | | | | | | | 47,392,511 | |
| | |
Oil & Gas Services — 0.9% | | | | | | | | |
Archrock Partners LP / Archrock Partners Finance Corp. | | | | | | | | |
144A,6.875%, 4/1/27 | | | 132,000 | | | | 132,959 | |
144A,6.25%, 4/1/28 | | | 533,000 | | | | 535,251 | |
144A,6.625%, 9/1/32 | | | 450,000 | | | | 455,613 | |
Bristow Group, Inc.,144A,6.875%, 3/1/28 | | | 274,000 | | | | 274,292 | |
Enerflex Ltd.,144A,9.00%, 10/15/27 | | | 400,000 | | | | 414,200 | |
Helix Energy Solutions Group, Inc.,144A,9.75%, 3/1/29 | | | 188,000 | | | | 202,552 | |
Kodiak Gas Services LLC,144A,7.25%, 2/15/29 | | | 475,000 | | | | 491,925 | |
Oceaneering International, Inc.,6.00%, 2/1/28 | | | 184,000 | | | | 186,402 | |
Solaris Midstream Holdings LLC,144A,7.625%, 4/1/26 | | | 245,000 | | | | 246,355 | |
Star Holding LLC,144A,8.75%, 8/1/31 | | | 230,000 | | | | 225,320 | |
USA Compression Partners LP / USA Compression Finance Corp. | | | | | | | | |
6.875%, 9/1/27 | | | 500,000 | | | | 503,892 | |
144A,7.125%, 3/15/29 | | | 634,000 | | | | 651,221 | |
Viridien,144A,8.75%, 4/1/27 | | | 320,000 | | | | 306,554 | |
Weatherford International Ltd.,144A,8.625%, 4/30/30 | | | 1,012,000 | | | | 1,050,321 | |
Welltec International ApS,144A,8.25%, 10/15/26 | | | 179,000 | | | | 182,396 | |
| | |
(Cost $5,693,997) | | | | | | | 5,859,253 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Pipelines — 6.4% | | | | | | | | |
Antero Midstream Partners LP / Antero Midstream Finance Corp. | | | | | | | | |
144A,5.75%, 3/1/27 | | | 398,000 | | | | 396,454 | |
144A,5.75%, 1/15/28 | | | 428,000 | | | | 428,120 | |
144A,5.375%, 6/15/29 | | | 489,000 | | | | 483,146 | |
144A,6.625%, 2/1/32 | | | 389,000 | | | | 400,833 | |
Blue Racer Midstream LLC / Blue Racer Finance Corp. | | | | | | | | |
144A,6.625%, 7/15/26 | | | 142,000 | | | | 141,957 | |
144A,7.00%, 7/15/29 | | | 320,000 | | | | 332,852 | |
144A,7.25%, 7/15/32 | | | 325,000 | | | | 340,757 | |
Buckeye Partners LP | | | | | | | | |
3.95%, 12/1/26 | | | 367,000 | | | | 356,554 | |
4.125%, 12/1/27 | | | 245,000 | | | | 234,993 | |
144A,4.50%, 3/1/28 | | | 320,000 | | | | 306,741 | |
144A,6.875%, 7/1/29 | | | 370,000 | | | | 378,403 | |
5.85%, 11/15/43 | | | 260,000 | | | | 235,152 | |
5.60%, 10/15/44 | | | 204,000 | | | | 172,192 | |
CNX Midstream Partners LP,144A,4.75%, 4/15/30 | | | 245,000 | | | | 228,508 | |
CQP Holdco LP / BIP-V Chinook Holdco LLC | | | | | | | | |
144A,5.50%, 6/15/31 | | | 896,000 | | | | 878,385 | |
144A,7.50%, 12/15/33 | | | 330,000 | | | | 356,547 | |
Delek Logistics Partners LP / Delek Logistics Finance Corp. | | | | | | | | |
144A,7.125%, 6/1/28 | | | 256,000 | | | | 257,985 | |
144A,8.625%, 3/15/29 | | | 682,000 | | | | 717,107 | |
DT Midstream, Inc. | | | | | | | | |
144A,4.125%, 6/15/29 | | | 704,000 | | | | 668,793 | |
144A,4.375%, 6/15/31 | | | 634,000 | | | | 595,729 | |
Energy Transfer LP | | | | | | | | |
8.00%, 5/15/54 | | | 502,000 | | | | 534,104 | |
7.125%, 10/1/54 | | | 260,000 | | | | 263,323 | |
EQM Midstream Partners LP | | | | | | | | |
4.125%, 12/1/26 | | | 306,000 | | | | 300,554 | |
144A,7.50%, 6/1/27 | | | 300,000 | | | | 309,169 | |
144A,6.50%, 7/1/27 | | | 576,000 | | | | 590,395 | |
5.50%, 7/15/28 | | | 544,000 | | | | 547,631 | |
144A,4.50%, 1/15/29 | | | 512,000 | | | | 496,182 | |
144A,6.375%, 4/1/29 | | | 384,000 | | | | 394,774 | |
144A,7.50%, 6/1/30 | | | 316,000 | | | | 344,887 | |
144A,4.75%, 1/15/31 | | | 696,000 | | | | 668,714 | |
6.50%, 7/15/48 | | | 352,000 | | | | 363,578 | |
Genesis Energy LP / Genesis Energy Finance Corp. | | | | | | | | |
8.00%, 1/15/27 | | | 641,000 | | | | 656,330 | |
7.75%, 2/1/28 | | | 416,000 | | | | 423,420 | |
8.25%, 1/15/29 | | | 389,000 | | | | 404,199 | |
8.875%, 4/15/30 | | | 306,000 | | | | 324,801 | |
7.875%, 5/15/32 | | | 448,000 | | | | 459,727 | |
See Notes to Financial Statements.
56 | DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield BB-B ex Financials ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Global Partners LP / GLP Finance Corp. | | | | | | | | |
7.00%, 8/1/27 | | | 256,000 | | | | 258,196 | |
6.875%, 1/15/29 | | | 214,000 | | | | 215,530 | |
144A,8.25%, 1/15/32 | | | 278,000 | | | | 289,001 | |
Harvest Midstream I LP | | | | | | | | |
144A,7.50%, 9/1/28 | | | 512,000 | | | | 523,983 | |
144A,7.50%, 5/15/32 | | | 315,000 | | | | 331,145 | |
Hess Midstream Operations LP | | | | | | | | |
144A,5.625%, 2/15/26 | | | 509,000 | | | | 507,606 | |
144A,5.125%, 6/15/28 | | | 357,000 | | | | 352,920 | |
144A,6.50%, 6/1/29 | | | 398,000 | | | | 410,654 | |
144A,4.25%, 2/15/30 | | | 489,000 | | | | 462,164 | |
144A,5.50%, 10/15/30 | | | 265,000 | | | | 262,537 | |
Howard Midstream Energy Partners LLC | | | | | | | | |
144A,8.875%, 7/15/28 | | | 347,000 | | | | 369,918 | |
144A,7.375%, 7/15/32 | | | 389,000 | | | | 402,717 | |
ITT Holdings LLC,144A,6.50%, 8/1/29 | | | 791,000 | | | | 745,854 | |
Kinetik Holdings LP | | | | | | | | |
144A,6.625%, 12/15/28 | | | 526,000 | | | | 541,981 | |
144A,5.875%, 6/15/30 | | | 653,000 | | | | 655,097 | |
Martin Midstream Partners LP / Martin Midstream Finance Corp.,144A,11.50%, 2/15/28 | | | 255,000 | | | | 279,145 | |
New Fortress Energy, Inc. | | | | | | | | |
144A,6.75%, 9/15/25 | | | 560,000 | | | | 546,077 | |
144A,6.50%, 9/30/26 (a) | | | 973,000 | | | | 842,255 | |
144A,8.75%, 3/15/29 (a) | | | 480,000 | | | | 402,280 | |
NGL Energy Operating LLC / NGL Energy Finance Corp. | | | | | | | | |
144A,8.125%, 2/15/29 | | | 564,000 | | | | 576,813 | |
144A,8.375%, 2/15/32 | | | 843,000 | | | | 867,554 | |
Northriver Midstream Finance LP,144A,6.75%, 7/15/32 | | | 340,000 | | | | 351,049 | |
NuStar Logistics LP | | | | | | | | |
5.75%, 10/1/25 | | | 367,000 | | | | 366,935 | |
6.00%, 6/1/26 | | | 306,000 | | | | 308,862 | |
5.625%, 4/28/27 | | | 337,000 | | | | 337,901 | |
6.375%, 10/1/30 | | | 384,000 | | | | 401,177 | |
Prairie Acquiror LP,144A,9.00%, 8/1/29 | | | 251,000 | | | | 262,531 | |
Rockies Express Pipeline LLC | | | | | | | | |
144A,4.95%, 7/15/29 | | | 355,000 | | | | 339,292 | |
144A,4.80%, 5/15/30 | | | 214,000 | | | | 198,651 | |
144A,7.50%, 7/15/38 | | | 168,000 | | | | 175,207 | |
144A,6.875%, 4/15/40 | | | 316,000 | | | | 306,297 | |
South Bow Canadian Infrastructure Holdings Ltd. | | | | | | | | |
144A,7.50%, 3/1/55 | | | 400,000 | | | | 412,120 | |
144A,7.625%, 3/1/55 | | | 300,000 | | | | 306,300 | |
Summit Midstream Holdings LLC,144A,8.625%, 10/31/29 | | | 375,000 | | | | 389,204 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp. | | | | | | | | |
144A,6.00%, 3/1/27 | | | 283,000 | | | | 282,201 | |
144A,5.50%, 1/15/28 | | | 573,000 | | | | 552,873 | |
144A,7.375%, 2/15/29 | | | 490,000 | | | | 500,786 | |
144A,6.00%, 12/31/30 | | | 444,000 | | | | 423,422 | |
144A,6.00%, 9/1/31 | | | 286,000 | | | | 271,044 | |
Venture Global Calcasieu Pass LLC | | | | | | | | |
144A,3.875%, 8/15/29 | | | 791,000 | | | | 747,799 | |
144A,6.25%, 1/15/30 | | | 640,000 | | | | 665,417 | |
144A,4.125%, 8/15/31 | | | 800,000 | | | | 741,589 | |
144A,3.875%, 11/1/33 | | | 811,000 | | | | 721,433 | |
Venture Global LNG, Inc. | | | | | | | | |
144A,8.125%, 6/1/28 | | | 1,441,000 | | | | 1,509,090 | |
144A,9.50%, 2/1/29 | | | 1,921,000 | | | | 2,164,850 | |
144A,7.00%, 1/15/30 | | | 961,000 | | | | 982,477 | |
144A,8.375%, 6/1/31 | | | 1,441,000 | | | | 1,529,626 | |
144A,9.875%, 2/1/32 | | | 1,281,000 | | | | 1,423,191 | |
| | |
(Cost $40,200,824) | | | | | | | 41,507,747 | |
| | |
Financial — 4.7% | | | | | | | | |
Real Estate — 0.8% | | | | | | | | |
Anywhere Real Estate Group LLC / Anywhere Co.-Issuer Corp.,144A,7.00%, 4/15/30 (a) | | | 422,000 | | | | 374,159 | |
CoreLogic, Inc.,144A,4.50%, 5/1/28 | | | 474,000 | | | | 443,574 | |
Cushman & Wakefield US Borrower LLC | | | | | | | | |
144A,6.75%, 5/15/28 | | | 408,000 | | | | 413,869 | |
144A,8.875%, 9/1/31 | | | 256,000 | | | | 277,209 | |
Five Point Operating Co. LP / Five Point Capital Corp.,144A,10.50%, 1/15/28 | | | 339,561 | | | | 347,660 | |
Greystar Real Estate Partners LLC,144A,7.75%, 9/1/30 | | | 215,000 | | | | 228,777 | |
Howard Hughes Corp. | | | | | | | | |
144A,5.375%, 8/1/28 | | | 480,000 | | | | 466,810 | |
144A,4.125%, 2/1/29 | | | 416,000 | | | | 383,234 | |
144A,4.375%, 2/1/31 | | | 425,000 | | | | 380,947 | |
Hunt Cos., Inc.,144A,5.25%, 4/15/29 | | | 407,000 | | | | 383,645 | |
Kennedy-Wilson, Inc. | | | | | | | | |
4.75%, 3/1/29 | | | 377,000 | | | | 340,303 | |
4.75%, 2/1/30 | | | 397,000 | | | | 350,327 | |
5.00%, 3/1/31 | | | 382,000 | | | | 332,295 | |
Newmark Group, Inc.,7.50%, 1/12/29 | | | 312,000 | | | | 331,932 | |
| | |
(Cost $4,827,827) | | | | | | | 5,054,741 | |
See Notes to Financial Statements.
DBX ETF Trust | 57
Schedule of Investments
Xtrackers USD High Yield BB-B ex Financials ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Real Estate Investment Trusts — 3.9% | | | | | | | | |
Apollo Commercial Real Estate Finance, Inc.,144A,4.625%, 6/15/29 | | | 324,000 | | | | 287,221 | |
Blackstone Mortgage Trust, Inc.,144A,3.75%, 1/15/27 | | | 214,000 | | | | 199,847 | |
Brandywine Operating Partnership LP | | | | | | | | |
3.95%, 11/15/27 | | | 276,000 | | | | 258,564 | |
8.05%, 3/15/28 | | | 214,000 | | | | 227,713 | |
8.875%, 4/12/29 | | | 256,000 | | | | 278,207 | |
4.55%, 10/1/29 | | | 244,000 | | | | 223,571 | |
Brookfield Property REIT, Inc. / BPR Cumulus LLC / BPR Nimbus LLC / GGSI Sellco LL | | | | | | | | |
144A,5.75%, 5/15/26 | | | 533,000 | | | | 531,700 | |
144A,4.50%, 4/1/27 | | | 423,000 | | | | 407,836 | |
CTR Partnership LP / CareTrust Capital Corp.,144A,3.875%, 6/30/28 | | | 265,000 | | | | 249,286 | |
Global Net Lease, Inc. / Global Net Lease Operating Partnership LP,144A,3.75%, 12/15/27 | | | 310,000 | | | | 282,532 | |
Hudson Pacific Properties LP | | | | | | | | |
3.95%, 11/1/27 | | | 252,000 | | | | 223,846 | |
5.95%, 2/15/28 | | | 222,000 | | | | 198,288 | |
4.65%, 4/1/29 | | | 320,000 | | | | 264,538 | |
3.25%, 1/15/30 | | | 254,000 | | | | 187,629 | |
Iron Mountain Information Management Services, Inc.,144A,5.00%, 7/15/32 | | | 447,000 | | | | 425,425 | |
Iron Mountain, Inc. | | | | | | | | |
144A,4.875%, 9/15/27 | | | 654,000 | | | | 642,140 | |
144A,5.25%, 3/15/28 | | | 528,000 | | | | 522,172 | |
144A,5.00%, 7/15/28 | | | 326,000 | | | | 319,959 | |
144A,7.00%, 2/15/29 | | | 640,000 | | | | 664,696 | |
144A,4.875%, 9/15/29 | | | 653,000 | | | | 633,781 | |
144A,5.25%, 7/15/30 | | | 832,000 | | | | 810,989 | |
144A,4.50%, 2/15/31 | | | 704,000 | | | | 660,868 | |
144A,5.625%, 7/15/32 | | | 397,000 | | | | 391,176 | |
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp. | | | | | | | | |
144A,5.25%, 10/1/25 | | | 201,000 | | | | 200,281 | |
144A,4.25%, 2/1/27 | | | 375,000 | | | | 363,916 | |
144A,4.75%, 6/15/29 | | | 420,000 | | | | 404,823 | |
144A,7.00%, 7/15/31 | | | 310,000 | | | | 322,315 | |
MPT Operating Partnership LP / MPT Finance Corp. | | | | | | | | |
5.25%, 8/1/26 (a) | | | 306,000 | | | | 287,838 | |
5.00%, 10/15/27 (a) | | | 886,000 | | | | 751,969 | |
4.625%, 8/1/29 | | | 591,000 | | | | 454,461 | |
3.50%, 3/15/31 | | | 832,000 | | | | 568,300 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Necessity Retail REIT Inc/The / American Finance Operating Partner LP,144A,4.50%, 9/30/28 | | | 326,000 | | | | 299,456 | |
Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co.-Issuer | | | | | | | | |
144A,5.875%, 10/1/28 | | | 474,000 | | | | 471,613 | |
144A,4.875%, 5/15/29 | | | 490,000 | | | | 467,460 | |
144A,7.00%, 2/1/30 | | | 347,000 | | | | 355,684 | |
RHP Hotel Properties LP / RHP Finance Corp. | | | | | | | | |
4.75%, 10/15/27 | | | 468,000 | | | | 458,455 | |
144A,7.25%, 7/15/28 | | | 245,000 | | | | 254,770 | |
144A,4.50%, 2/15/29 | | | 384,000 | | | | 368,553 | |
144A,6.50%, 4/1/32 | | | 654,000 | | | | 673,632 | |
Rithm Capital Corp. | | | | | | | | |
144A,6.25%, 10/15/25 | | | 176,000 | | | | 175,636 | |
144A,8.00%, 4/1/29 | | | 496,000 | | | | 493,642 | |
RLJ Lodging Trust LP | | | | | | | | |
144A,3.75%, 7/1/26 | | | 356,000 | | | | 344,172 | |
144A,4.00%, 9/15/29 | | | 320,000 | | | | 290,438 | |
SBA Communications Corp. | | | | | | | | |
3.875%, 2/15/27 | | | 958,000 | | | | 926,755 | |
3.125%, 2/1/29 | | | 939,000 | | | | 864,083 | |
Service Properties Trust | | | | | | | | |
5.25%, 2/15/26 | | | 214,000 | | | | 208,658 | |
4.75%, 10/1/26 | | | 288,000 | | | | 275,381 | |
4.95%, 2/15/27 | | | 256,000 | | | | 237,342 | |
5.50%, 12/15/27 | | | 288,000 | | | | 270,917 | |
3.95%, 1/15/28 | | | 245,000 | | | | 208,187 | |
8.375%, 6/15/29 | | | 441,000 | | | | 436,790 | |
4.95%, 10/1/29 | | | 272,000 | | | | 210,624 | |
4.375%, 2/15/30 | | | 256,000 | | | | 189,132 | |
144A,8.625%, 11/15/31 | | | 640,000 | | | | 684,626 | |
8.875%, 6/15/32 | | | 324,000 | | | | 305,187 | |
Starwood Property Trust, Inc. | | | | | | | | |
144A,3.625%, 7/15/26 | | | 245,000 | | | | 235,802 | |
144A,4.375%, 1/15/27 | | | 330,000 | | | | 320,563 | |
144A,7.25%, 4/1/29 | | | 384,000 | | | | 399,714 | |
Uniti Group LP / Uniti Group Finance, Inc. / CSL Capital LLC | | | | | | | | |
144A,10.50%, 2/15/28 | | | 1,665,000 | | | | 1,708,383 | |
144A,Series MAY, 10.50%, 2/15/28 | | | 195,000 | | | | 200,081 | |
144A,4.75%, 4/15/28 | | | 365,000 | | | | 320,929 | |
Vornado Realty LP | | | | | | | | |
2.15%, 6/1/26 | | | 253,000 | | | | 239,343 | |
3.40%, 6/1/31 | | | 224,000 | | | | 190,206 | |
XHR LP,144A,4.875%, 6/1/29 | | | 320,000 | | | | 304,525 | |
| | |
(Cost $24,916,178) | | | | | | | 25,636,626 | |
See Notes to Financial Statements.
58 | DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield BB-B ex Financials ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Industrial — 12.4% | | | | | | | | |
Aerospace/Defense — 2.4% | | | | | | | | |
AAR Escrow Issuer LLC,144A,6.75%, 3/15/29 | | | 359,000 | | | | 371,620 | |
Bombardier, Inc. | | | | | | | | |
144A,7.875%, 4/15/27 | | | 270,000 | | | | 270,918 | |
144A,6.00%, 2/15/28 | | | 480,000 | | | | 480,256 | |
144A,7.50%, 2/1/29 (a) | | | 480,000 | | | | 504,277 | |
144A,8.75%, 11/15/30 | | | 459,000 | | | | 500,542 | |
144A,7.25%, 7/1/31 | | | 480,000 | | | | 503,851 | |
144A,7.00%, 6/1/32 (a) | | | 473,000 | | | | 492,389 | |
144A,7.45%, 5/1/34 | | | 345,000 | | | | 376,142 | |
Moog, Inc.,144A,4.25%, 12/15/27 | | | 326,000 | | | | 313,998 | |
Spirit AeroSystems, Inc. | | | | | | | | |
3.85%, 6/15/26 | | | 194,000 | | | | 188,021 | |
144A,9.375%, 11/30/29 | | | 576,000 | | | | 624,978 | |
144A,9.75%, 11/15/30 | | | 768,000 | | | | 859,502 | |
TransDigm, Inc. | | | | | | | | |
5.50%, 11/15/27 | | | 1,743,000 | | | | 1,732,752 | |
144A,6.75%, 8/15/28 | | | 1,336,000 | | | | 1,373,606 | |
4.625%, 1/15/29 | | | 818,000 | | | | 786,965 | |
144A,6.375%, 3/1/29 | | | 1,650,000 | | | | 1,700,426 | |
4.875%, 5/1/29 | | | 459,000 | | | | 443,866 | |
144A,6.875%, 12/15/30 | | | 969,000 | | | | 1,011,861 | |
144A,7.125%, 12/1/31 | | | 652,000 | | | | 688,524 | |
144A,6.625%, 3/1/32 | | | 1,409,000 | | | | 1,465,318 | |
Triumph Group, Inc.,144A,9.00%, 3/15/28 | | | 622,000 | | | | 656,877 | |
| | |
(Cost $14,924,428) | | | | | | | 15,346,689 | |
| | |
Building Materials — 2.3% | | | | | | | | |
AmeriTex HoldCo Intermediate LLC,144A,10.25%, 10/15/28 | | | 325,000 | | | | 345,763 | |
Boise Cascade Co.,144A,4.875%, 7/1/30 | | | 245,000 | | | | 234,447 | |
Builders FirstSource, Inc. | | | | | | | | |
144A,5.00%, 3/1/30 | | | 337,000 | | | | 327,595 | |
144A,4.25%, 2/1/32 | | | 860,000 | | | | 785,736 | |
144A,6.375%, 6/15/32 | | | 429,000 | | | | 441,833 | |
144A,6.375%, 3/1/34 | | | 640,000 | | | | 657,060 | |
Camelot Return Merger Sub, Inc.,144A,8.75%, 8/1/28 (a) | | | 473,000 | | | | 469,332 | |
Cornerstone Building Brands, Inc.,144A,9.50%, 8/15/29 | | | 315,000 | | | | 311,884 | |
Eco Material Technologies, Inc.,144A,7.875%, 1/31/27 | | | 422,000 | | | | 427,424 | |
Emerald Debt Merger Sub LLC,144A,6.625%, 12/15/30 | | | 1,777,000 | | | | 1,819,708 | |
EMRLD Borrower LP / Emerald Co.-Issuer, Inc.,144A,6.75%, 7/15/31 | | | 320,000 | | | | 329,758 | |
Griffon Corp.,5.75%, 3/1/28 | | | 638,000 | | | | 625,459 | |
James Hardie International Finance DAC,144A,5.00%, 1/15/28 | | | 265,000 | | | | 258,034 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
JELD-WEN, Inc. | | | | | | | | |
144A,4.875%, 12/15/27 | | | 265,000 | | | | 256,261 | |
144A,7.00%, 9/1/32 | | | 230,000 | | | | 231,093 | |
Knife River Corp.,144A,7.75%, 5/1/31 | | | 260,000 | | | | 275,258 | |
Louisiana-Pacific Corp.,144A,3.625%, 3/15/29 | | | 234,000 | | | | 217,315 | |
Masterbrand, Inc.,144A,7.00%, 7/15/32 | | | 448,000 | | | | 461,443 | |
Miter Brands Acquisition Holdco, Inc. / MIWD Borrower LLC,144A,6.75%, 4/1/32 | | | 448,000 | | | | 460,388 | |
MIWD Holdco II LLC / MIWD Finance Corp.,144A,5.50%, 2/1/30 | | | 320,000 | | | | 303,395 | |
New Enterprise Stone & Lime Co., Inc.,144A,5.25%, 7/15/28 | | | 358,000 | | | | 346,911 | |
Smyrna Ready Mix Concrete LLC | | | | | | | | |
144A,6.00%, 11/1/28 | | | 696,000 | | | | 694,598 | |
144A,8.875%, 11/15/31 | | | 713,000 | | | | 765,333 | |
Standard Building Solutions, Inc.,144A,6.50%, 8/15/32 | | | 320,000 | | | | 329,699 | |
Standard Industries, Inc. | | | | | | | | |
144A,5.00%, 2/15/27 | | | 544,000 | | | | 536,086 | |
144A,4.75%, 1/15/28 | | | 652,000 | | | | 634,000 | |
144A,4.375%, 7/15/30 | | | 1,012,000 | | | | 946,194 | |
144A,3.375%, 1/15/31 | | | 704,000 | | | | 615,630 | |
Summit Materials LLC / Summit Materials Finance Corp. | | | | | | | | |
144A,6.50%, 3/15/27 | | | 184,000 | | | | 184,451 | |
144A,5.25%, 1/15/29 | | | 454,000 | | | | 449,412 | |
144A,7.25%, 1/15/31 | | | 526,000 | | | | 555,641 | |
| | |
(Cost $14,910,459) | | | | | | | 15,297,141 | |
|
Electrical Components & Equipment — 0.5% | |
Energizer Holdings, Inc. | | | | | | | | |
144A,6.50%, 12/31/27 | | | 184,000 | | | | 185,974 | |
144A,4.75%, 6/15/28 | | | 388,000 | | | | 373,949 | |
144A,4.375%, 3/31/29 | | | 507,000 | | | | 476,639 | |
EnerSys | | | | | | | | |
144A,4.375%, 12/15/27 | | | 179,000 | | | | 174,856 | |
144A,6.625%, 1/15/32 | | | 202,000 | | | | 212,083 | |
WESCO Distribution, Inc. | | | | | | | | |
144A,7.25%, 6/15/28 | | | 851,000 | | | | 873,030 | |
144A,6.375%, 3/15/29 | | | 590,000 | | | | 605,405 | |
144A,6.625%, 3/15/32 | | | 534,000 | | | | 550,123 | |
| | |
(Cost $3,373,476) | | | | | | | 3,452,059 | |
| | |
Electronics — 0.8% | | | | | | | | |
Atkore, Inc.,144A,4.25%, 6/1/31 | | | 246,000 | | | | 223,266 | |
Coherent Corp.,144A,5.00%, 12/15/29 | | | 647,000 | | | | 625,639 | |
EquipmentShare.com, Inc. | | | | | | | | |
144A,9.00%, 5/15/28 | | | 666,000 | | | | 692,435 | |
144A,8.625%, 5/15/32 | | | 380,000 | | | | 397,366 | |
See Notes to Financial Statements.
DBX ETF Trust | 59
Schedule of Investments
Xtrackers USD High Yield BB-B ex Financials ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Imola Merger Corp.,144A,4.75%, 5/15/29 | | | 1,281,000 | | | | 1,232,918 | |
Sensata Technologies BV | | | | | | | | |
144A,4.00%, 4/15/29 | | | 640,000 | | | | 602,584 | |
144A,5.875%, 9/1/30 | | | 324,000 | | | | 323,621 | |
Sensata Technologies, Inc. | | | | | | | | |
144A,4.375%, 2/15/30 | | | 296,000 | | | | 279,518 | |
144A,3.75%, 2/15/31 | | | 459,000 | | | | 414,457 | |
144A,6.625%, 7/15/32 | | | 315,000 | | | | 325,936 | |
TTM Technologies, Inc.,144A,4.00%, 3/1/29 | | | 316,000 | | | | 298,228 | |
| | |
(Cost $5,243,106) | | | | | | | 5,415,968 | |
| | |
Engineering & Construction — 0.9% | | | | | | | | |
AECOM,5.125%, 3/15/27 | | | 638,000 | | | | 638,605 | |
Arcosa, Inc. | | | | | | | | |
144A,4.375%, 4/15/29 | | | 265,000 | | | | 251,305 | |
144A,6.875%, 8/15/32 | | | 390,000 | | | | 406,549 | |
Artera Services LLC,144A,8.50%, 2/15/31 | | | 369,000 | | | | 369,420 | |
ATP Tower Holdings LLC / Andean Tower Partners Colombia SAS / Andean Telecom Par,144A,4.05%, 4/27/26 | | | 240,000 | | | | 229,612 | |
Brand Industrial Services, Inc.,144A,10.375%, 8/1/30 | | | 868,000 | | | | 945,749 | |
Brundage-Bone Concrete Pumping Holdings, Inc.,144A,6.00%, 2/1/26 | | | 200,000 | | | | 199,976 | |
Dycom Industries, Inc.,144A,4.50%, 4/15/29 | | | 326,000 | | | | 312,372 | |
Fluor Corp.,4.25%, 9/15/28 | | | 362,000 | | | | 351,093 | |
Global Infrastructure Solutions, Inc. | | | | | | | | |
144A,5.625%, 6/1/29 | | | 265,000 | | | | 257,793 | |
144A,7.50%, 4/15/32 | | | 192,000 | | | | 194,722 | |
HTA Group Ltd./ Mauritius,
144A,7.50%, 6/4/29 (a) | | | 544,000 | | | | 548,685 | |
Railworks Holdings LP / Railworks Rally, Inc.,144A,8.25%, 11/15/28 | | | 199,000 | | | | 203,310 | |
TopBuild Corp. | | | | | | | | |
144A,3.625%, 3/15/29 | | | 265,000 | | | | 245,727 | |
144A,4.125%, 2/15/32 | | | 320,000 | | | | 291,259 | |
Weekley Homes LLC / Weekley Finance Corp.,144A,4.875%, 9/15/28 | | | 259,000 | | | | 251,163 | |
| | |
(Cost $5,517,622) | | | | | | | 5,697,340 | |
| | |
Environmental Control — 0.9% | | | | | | | | |
Clean Harbors, Inc. | | | | | | | | |
144A,4.875%, 7/15/27 | | | 349,000 | | | | 345,071 | |
144A,5.125%, 7/15/29 | | | 184,000 | | | | 180,730 | |
144A,6.375%, 2/1/31 | | | 326,000 | | | | 333,144 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Enviri Corp.,144A,5.75%, 7/31/27 | | | 311,000 | | | | 303,052 | |
GFL Environmental, Inc. | | | | | | | | |
144A,5.125%, 12/15/26 | | | 323,000 | | | | 321,748 | |
144A,4.00%, 8/1/28 | | | 480,000 | | | | 457,560 | |
144A,3.50%, 9/1/28 | | | 489,000 | | | | 462,367 | |
144A,4.75%, 6/15/29 | | | 459,000 | | | | 444,157 | |
144A,4.375%, 8/15/29 | | | 397,000 | | | | 376,946 | |
144A,6.75%, 1/15/31 | | | 627,000 | | | | 654,950 | |
Madison IAQ LLC,144A,4.125%, 6/30/28 | | | 459,000 | | | | 436,738 | |
Reworld Holding Corp. | | | | | | | | |
144A,4.875%, 12/1/29 | | | 490,000 | | | | 454,679 | |
5.00%, 9/1/30 | | | 245,000 | | | | 224,096 | |
Stericycle, Inc.,144A,3.875%, 1/15/29 | | | 306,000 | | | | 297,130 | |
Waste Pro USA, Inc.,144A,5.50%, 2/15/26 | | | 307,000 | | | | 305,805 | |
Wrangler Holdco Corp.,144A,6.625%, 4/1/32 | | | 330,000 | | | | 340,709 | |
| | |
(Cost $5,730,692) | | | | | | | 5,938,882 | |
| | |
Hand/Machine Tools — 0.1% | | | | | | | | |
Werner FinCo LP / Werner FinCo, Inc.,144A,11.50%, 6/15/28 | | | | | | | | |
| | |
(Cost $274,657) | | | 252,000 | | | | 277,595 | |
|
Machinery-Construction & Mining — 0.2% | |
BWX Technologies, Inc. | | | | | | | | |
144A,4.125%, 6/30/28 | | | 265,000 | | | | 255,724 | |
144A,4.125%, 4/15/29 | | | 256,000 | | | | 244,838 | |
Manitowoc Co., Inc.,144A,9.00%, 4/1/26 | | | 184,000 | | | | 184,323 | |
Terex Corp.,144A,5.00%, 5/15/29 | | | 387,000 | | | | 375,740 | |
Vertiv Group Corp.,144A,4.125%, 11/15/28 | | | 544,000 | | | | 522,213 | |
| | |
(Cost $1,526,126) | | | | | | | 1,582,838 | |
| | |
Machinery-Diversified — 0.6% | | | | | | | | |
ATS Corp.,144A,4.125%, 12/15/28 | | | 214,000 | | | | 200,259 | |
Chart Industries, Inc. | | | | | | | | |
144A,7.50%, 1/1/30 | | | 923,000 | | | | 969,833 | |
144A,9.50%, 1/1/31 | | | 332,000 | | | | 360,591 | |
Esab Corp.,144A,6.25%, 4/15/29 | | | 440,000 | | | | 452,009 | |
Husky Injection Molding Systems Ltd. / Titan Co.- Borrower LLC,144A,9.00%, 2/15/29 | | | 654,000 | | | | 670,403 | |
Mueller Water Products, Inc.,144A,4.00%, 6/15/29 | | | 288,000 | | | | 272,253 | |
TK Elevator US Newco, Inc.,144A,5.25%, 7/15/27 | | | 999,000 | | | | 983,476 | |
| | |
(Cost $3,835,793) | | | | | | | 3,908,824 | |
See Notes to Financial Statements.
60 | DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield BB-B ex Financials ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Metal Fabricate/Hardware — 0.2% | | | | | | | | |
Advanced Drainage Systems, Inc. | | | | | | | | |
144A,5.00%, 9/30/27 | | | 224,000 | | | | 220,537 | |
144A,6.375%, 6/15/30 | | | 306,000 | | | | 311,048 | |
Roller Bearing Co. of America, Inc., 144A,4.375%, 10/15/29 | | | 320,000 | | | | 304,363 | |
Vallourec SACA,144A,7.50%, 4/15/32 | | | 532,000 | | | | 560,205 | |
| | |
(Cost $1,350,745) | | | | | | | 1,396,153 | |
| | |
Miscellaneous Manufacturing — 0.4% | | | | | | | | |
Amsted Industries, Inc. | | | | | | | | |
144A,5.625%, 7/1/27 | | | 260,000 | | | | 259,527 | |
144A,4.625%, 5/15/30 | | | 256,000 | | | | 240,804 | |
Calderys Financing LLC,144A,11.25%, 6/1/28 | | | 337,000 | | | | 365,399 | |
Enpro, Inc.,5.75%, 10/15/26 | | | 232,000 | | | | 230,785 | |
Hillenbrand, Inc. | | | | | | | | |
5.00%, 9/15/26 | | | 230,000 | | | | 229,121 | |
6.25%, 2/15/29 | | | 333,000 | | | | 337,224 | |
3.75%, 3/1/31 | | | 229,000 | | | | 203,378 | |
LSB Industries, Inc.,144A,6.25%, 10/15/28 | | | 306,000 | | | | 299,876 | |
Trinity Industries, Inc.,144A,7.75%, 7/15/28 | | | 375,000 | | | | 392,960 | |
| | |
(Cost $2,481,054) | | | | | | | 2,559,074 | |
| | |
Packaging & Containers — 2.4% | | | | | | | | |
Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC | | | | | | | | |
144A,6.00%, 6/15/27 | | | 367,000 | | | | 365,926 | |
144A,3.25%, 9/1/28 | | | 414,000 | | | | 375,621 | |
Ball Corp. | | | | | | | | |
4.875%, 3/15/26 | | | 164,000 | | | | 163,214 | |
6.875%, 3/15/28 | | | 514,000 | | | | 531,990 | |
6.00%, 6/15/29 | | | 612,000 | | | | 629,717 | |
2.875%, 8/15/30 | | | 822,000 | | | | 726,518 | |
3.125%, 9/15/31 | | | 571,000 | | | | 499,221 | |
Berry Global, Inc. | | | | | | | | |
144A,4.50%, 2/15/26 | | | 178,000 | | | | 175,451 | |
144A,5.625%, 7/15/27 | | | 320,000 | | | | 319,507 | |
Cascades, Inc./Cascades USA, Inc.,144A,5.375%, 1/15/28 | | | 293,000 | | | | 286,153 | |
Clearwater Paper Corp.,144A,4.75%, 8/15/28 | | | 168,000 | | | | 156,805 | |
Clydesdale Acquisition Holdings, Inc. | | | | | | | | |
144A,6.625%, 4/15/29 | | | 320,000 | | | | 319,561 | |
144A,6.875%, 1/15/30 | | | 300,000 | | | | 301,106 | |
Crown Americas LLC,5.25%, 4/1/30 | | | 320,000 | | | | 319,798 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Crown Americas LLC / Crown Americas Capital Corp. V,4.25%, 9/30/26 | | | 259,000 | | | | 254,258 | |
Crown Americas LLC / Crown Americas Capital Corp. VI,4.75%, 2/1/26 | | | 560,000 | | | | 554,688 | |
Crown Cork & Seal Co., Inc.,7.375%, 12/15/26 | | | 224,000 | | | | 234,345 | |
Graphic Packaging International LLC | | | | | | | | |
144A,4.75%, 7/15/27 | | | 192,000 | | | | 188,873 | |
144A,3.50%, 3/15/28 | | | 276,000 | | | | 260,067 | |
144A,3.50%, 3/1/29 | | | 214,000 | | | | 198,764 | |
144A,3.75%, 2/1/30 | | | 251,000 | | | | 232,114 | |
144A,6.375%, 7/15/32 | | | 320,000 | | | | 327,177 | |
Intelligent Packaging Ltd Finco, Inc. / Intelligent Packaging Ltd Co.-Issuer LLC,144A,6.00%, 9/15/28 | | | 450,000 | | | | 441,494 | |
LABL, Inc. | | | | | | | | |
144A,6.75%, 7/15/26 | | | 429,000 | | | | 426,858 | |
144A,5.875%, 11/1/28 | | | 306,000 | | | | 282,263 | |
144A,9.50%, 11/1/28 | | | 192,000 | | | | 196,227 | |
Mauser Packaging Solutions Holding Co.,144A,7.875%, 4/15/27 | | | 1,722,000 | | | | 1,780,427 | |
OI European Group BV,144A,4.75%, 2/15/30 | | | 259,000 | | | | 243,105 | |
Owens-Brockway Glass Container, Inc. | | | | | | | | |
144A,6.625%, 5/13/27 | | | 375,000 | | | | 375,894 | |
144A,7.25%, 5/15/31 (a) | | | 442,000 | | | | 447,248 | |
144A,7.375%, 6/1/32 | | | 199,000 | | | | 199,899 | |
Pactiv Evergreen Group Issuer LLC / Pactiv Evergreen Group Issuer, Inc.,144A,4.375%, 10/15/28 | | | 326,000 | | | | 309,720 | |
Pactiv Evergreen Group Issuer, Inc. /Pactiv Evergreen Group Issuer LLC,144A,4.00%, 10/15/27 | | | 636,000 | | | | 607,197 | |
Sealed Air Corp. | | | | | | | | |
144A,4.00%, 12/1/27 | | | 270,000 | | | | 260,308 | |
144A,6.125%, 2/1/28 | | | 503,000 | | | | 510,913 | |
144A,5.00%, 4/15/29 | | | 260,000 | | | | 255,012 | |
144A,7.25%, 2/15/31 | | | 260,000 | | | | 273,232 | |
144A,6.50%, 7/15/32 | | | 260,000 | | | | 265,959 | |
144A,6.875%, 7/15/33 | | | 285,000 | | | | 305,035 | |
Silgan Holdings, Inc.,4.125%, 2/1/28 | | | 399,000 | | | | 385,402 | |
TriMas Corp.,144A,4.125%, 4/15/29 | | | 265,000 | | | | 246,986 | |
Trivium Packaging Finance BV,144A,5.50%, 8/15/26 | | | 672,000 | | | | 663,565 | |
| | |
(Cost $15,550,991) | | | | | | | 15,897,618 | |
See Notes to Financial Statements.
DBX ETF Trust | 61
Schedule of Investments
Xtrackers USD High Yield BB-B ex Financials ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Transportation — 0.7% | | | | | | | | |
Brightline East LLC,144A,11.00%, 1/31/30 | | | 858,000 | | | | 782,458 | |
Danaos Corp.,144A,8.50%, 3/1/28 | | | 171,000 | | | | 175,768 | |
First Student Bidco, Inc. / First Transit Parent, Inc.,144A,4.00%, 7/31/29 | | | 393,000 | | | | 364,277 | |
Genesee & Wyoming, Inc.,144A,6.25%, 4/15/32 | | | 440,000 | | | | 449,710 | |
GN Bondco LLC,144A,9.50%, 10/15/31 (a) | | | 463,000 | | | | 471,275 | |
Rand Parent LLC,144A,8.50%, 2/15/30 (a) | | | 544,000 | | | | 544,009 | |
RXO, Inc.,144A,7.50%, 11/15/27 | | | 217,000 | | | | 224,892 | |
Watco Cos. LLC / Watco Finance Corp.,144A,7.125%, 8/1/32 | | | 460,000 | | | | 476,326 | |
XPO CNW, Inc.,6.70%, 5/1/34 | | | 192,000 | | | | 199,562 | |
XPO, Inc. | | | | | | | | |
144A,7.125%, 6/1/31 | | | 296,000 | | | | 309,229 | |
144A,7.125%, 2/1/32 | | | 370,000 | | | | 387,084 | |
| | |
(Cost $4,312,602) | | | | | | | 4,384,590 | |
| | |
Technology — 5.0% | | | | | | | | |
Computers — 1.5% | | | | | | | | |
Amentum Escrow Corp.,144A,7.25%, 8/1/32 | | | 650,000 | | | | 679,639 | |
ASGN, Inc.,144A,4.625%, 5/15/28 | | | 357,000 | | | | 344,923 | |
Conduent Business Services LLC / Conduent State & Local Solutions, Inc.,144A,6.00%, 11/1/29 | | | 340,000 | | | | 323,061 | |
Crane NXT Co.,4.20%, 3/15/48 | | | 211,000 | | | | 151,465 | |
Crowdstrike Holdings, Inc.,3.00%, 2/15/29 | | | 489,000 | | | | 448,109 | |
Fortress Intermediate 3, Inc.,144A,7.50%, 6/1/31 | | | 493,000 | | | | 511,438 | |
Insight Enterprises, Inc.,144A,6.625%, 5/15/32 | | | 325,000 | | | | 336,410 | |
KBR, Inc.,144A,4.75%, 9/30/28 | | | 174,000 | | | | 166,720 | |
NCR Atleos Corp.,144A,9.50%, 4/1/29 | | | 874,000 | | | | 962,732 | |
NCR Voyix Corp. | | | | | | | | |
144A,5.00%, 10/1/28 | | | 428,000 | | | | 423,004 | |
144A,5.125%, 4/15/29 | | | 768,000 | | | | 753,141 | |
144A,5.25%, 10/1/30 | | | 276,000 | | | | 267,890 | |
Science Applications International Corp.,144A,4.875%, 4/1/28 | | | 245,000 | | | | 237,625 | |
Seagate HDD Cayman | | | | | | | | |
4.875%, 6/1/27 | | | 309,000 | | | | 307,620 | |
4.091%, 6/1/29 | | | 306,000 | | | | 291,279 | |
8.25%, 12/15/29 | | | 320,000 | | | | 346,926 | |
4.125%, 1/15/31 | | | 169,000 | | | | 153,431 | |
8.50%, 7/15/31 | | | 324,000 | | | | 352,342 | |
9.625%, 12/1/32 | | | 485,000 | | | | 559,306 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
5.75%, 12/1/34 | | | 320,000 | | | | 320,182 | |
Unisys Corp.,144A,6.875%, 11/1/27 | | | 317,000 | | | | 296,720 | |
Western Digital Corp.,4.75%, 2/15/26 | | | 1,473,000 | | | | 1,459,698 | |
| | |
(Cost $9,359,609) | | | | | | | 9,693,661 | |
| | |
Office/Business Equipment — 0.3% | | | | | | | | |
Pitney Bowes, Inc. | | | | | | | | |
144A,6.875%, 3/15/27 | | | 253,000 | | | | 249,815 | |
144A,7.25%, 3/15/29 | | | 224,000 | | | | 217,084 | |
Xerox Corp. | | | | | | | | |
4.80%, 3/1/35 | | | 163,000 | | | | 116,386 | |
6.75%, 12/15/39 | | | 214,000 | | | | 167,508 | |
Xerox Holdings Corp. | | | | | | | | |
144A,5.50%, 8/15/28 | | | 480,000 | | | | 411,100 | |
144A,8.875%, 11/30/29 | | | 330,000 | | | | 309,640 | |
Zebra Technologies Corp.,144A,6.50%, 6/1/32 | | | 320,000 | | | | 330,621 | |
| | |
(Cost $1,782,198) | | | | | | | 1,802,154 | |
| | |
Semiconductors — 0.5% | | | | | | | | |
Amkor Technology, Inc.,144A,6.625%, 9/15/27 | | | 292,000 | | | | 293,691 | |
ams-OSRAM AG,144A,12.25%, 3/30/29 | | | 264,000 | | | | 281,610 | |
Entegris, Inc. | | | | | | | | |
144A,4.375%, 4/15/28 | | | 265,000 | | | | 254,544 | |
144A,4.75%, 4/15/29 | | | 1,032,000 | | | | 1,012,714 | |
144A,3.625%, 5/1/29 | | | 256,000 | | | | 235,704 | |
144A,5.95%, 6/15/30 | | | 566,000 | | | | 573,675 | |
ON Semiconductor Corp.,144A,3.875%, 9/1/28 | | | 459,000 | | | | 436,216 | |
Synaptics, Inc.,144A,4.00%, 6/15/29 | | | 265,000 | | | | 248,045 | |
| | |
(Cost $3,252,952) | | | | | | | 3,336,199 | |
| | |
Software — 2.7% | | | | | | | | |
Camelot Finance SA,144A,4.50%, 11/1/26 | | | 429,000 | | | | 419,477 | |
Capstone Borrower, Inc.,144A,8.00%, 6/15/30 | | | 320,000 | | | | 337,051 | |
Central Parent LLC / CDK Global II LLC / CDK Financing Co., Inc.,144A,8.00%, 6/15/29 | | | 453,000 | | | | 467,718 | |
Central Parent, Inc. / CDK Global, Inc.,144A,7.25%, 6/15/29 | | | 486,000 | | | | 488,422 | |
Clarivate Science Holdings Corp. | | | | | | | | |
144A,3.875%, 7/1/28 | | | 598,000 | | | | 568,418 | |
144A,4.875%, 7/1/29 (a) | | | 590,000 | | | | 568,096 | |
Cloud Software Group, Inc. | | | | | | | | |
144A,6.50%, 3/31/29 | | | 2,561,000 | | | | 2,524,490 | |
144A,8.25%, 6/30/32 | | | 1,153,000 | | | | 1,207,229 | |
Consensus Cloud Solutions, Inc. | | | | | | | | |
144A,6.00%, 10/15/26 | | | 165,000 | | | | 161,826 | |
See Notes to Financial Statements.
62 | DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield BB-B ex Financials ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,6.50%, 10/15/28 (a) | | | 243,000 | | | | 240,093 | |
Dun & Bradstreet Corp.,144A,5.00%, 12/15/29 | | | 282,000 | | | | 279,242 | |
Dye & Durham Ltd.,144A,8.625%, 4/15/29 | | | 350,000 | | | | 366,736 | |
Elastic NV,144A,4.125%, 7/15/29 (a) | | | 382,000 | | | | 355,907 | |
Fair Isaac Corp. | | | | | | | | |
144A,5.25%, 5/15/26 | | | 265,000 | | | | 264,864 | |
144A,4.00%, 6/15/28 | | | 576,000 | | | | 550,089 | |
Helios Software Holdings, Inc. / ION Corporate Solutions Finance SARL | | | | | | | | |
144A,4.625%, 5/1/28 | | | 227,000 | | | | 208,297 | |
144A,8.75%, 5/1/29 | | | 315,000 | | | | 327,985 | |
MicroStrategy, Inc.,144A,6.125%, 6/15/28 | | | 326,000 | | | | 317,765 | |
Open Text Corp. 144A,3.875%, 2/15/28 | | | 584,000 | | | | 553,703 | |
144A,3.875%, 12/1/29 | | | 544,000 | | | | 501,520 | |
Open Text Holdings, Inc. | | | | | | | | |
144A,4.125%, 2/15/30 | | | 576,000 | | | | 534,817 | |
144A,4.125%, 12/1/31 | | | 416,000 | | | | 378,801 | |
PTC, Inc.,144A,4.00%, 2/15/28 | | | 306,000 | | | | 294,620 | |
RingCentral, Inc.,144A,8.50%, 8/15/30 | | | 268,000 | | | | 286,368 | |
ROBLOX Corp.,144A,3.875%, 5/1/30 | | | 649,000 | | | | 597,890 | |
Rocket Software, Inc.,144A,9.00%, 11/28/28 | | | 522,000 | | | | 541,538 | |
SS&C Technologies, Inc. | | | | | | | | |
144A,5.50%, 9/30/27 | | | 1,280,000 | | | | 1,278,678 | |
144A,6.50%, 6/1/32 | | | 493,000 | | | | 508,874 | |
Twilio, Inc. | | | | | | | | |
3.625%, 3/15/29 | | | 320,000 | | | | 295,635 | |
3.875%, 3/15/31 | | | 326,000 | | | | 298,987 | |
UKG, Inc.,144A,6.875%, 2/1/31 | | | 1,601,000 | | | | 1,656,110 | |
ZoomInfo Technologies LLC/ZoomInfo Finance Corp.,144A,3.875%, 2/1/29 | | | 416,000 | | | | 384,539 | |
| | |
(Cost $17,195,282) | | | | | | | 17,765,785 | |
| | |
Utilities — 3.5% | | | | | | | | |
Electric — 3.4% | | | | | | | | |
AES Corp.,7.60%, 1/15/55 | | | 616,000 | | | | 634,535 | |
Algonquin Power & Utilities Corp.,4.75%, 1/18/82 | | | 459,000 | | | | 426,228 | |
Atlantica Sustainable Infrastructure | | | | | | | | |
PLC,144A,4.125%, 6/15/28 | | | 256,000 | | | | 253,662 | |
Calpine Corp. | | | | | | | | |
144A,5.25%, 6/1/26 | | | 187,000 | | | | 185,896 | |
144A,4.50%, 2/15/28 | | | 800,000 | | | | 775,880 | |
144A,5.125%, 3/15/28 | | | 896,000 | | | | 874,313 | |
144A,4.625%, 2/1/29 | | | 428,000 | | | | 408,234 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,5.00%, 2/1/31 | | | 544,000 | | | | 521,618 | |
144A,3.75%, 3/1/31 | | | 574,000 | | | | 524,299 | |
Clearway Energy Operating LLC | | | | | | | | |
144A,4.75%, 3/15/28 | | | 544,000 | | | | 528,498 | |
144A,3.75%, 2/15/31 | | | 592,000 | | | | 537,167 | |
144A,3.75%, 1/15/32 | | | 214,000 | | | | 190,081 | |
DPL, Inc.,4.35%, 4/15/29 | | | 262,000 | | | | 244,956 | |
Edison International | | | | | | | | |
8.125%, 6/15/53 | | | 306,000 | | | | 321,289 | |
7.875%, 6/15/54 | | | 285,000 | | | | 299,065 | |
Electricite de France SA,144A,9.125%, Perpetual | | | 960,000 | | | | 1,084,680 | |
Emera, Inc., Series 16-A, 6.75%, 6/15/76 | | | 778,000 | | | | 780,552 | |
EUSHI Finance, Inc.,144A,7.625%, 12/15/54 | | | 320,000 | | | | 331,649 | |
Leeward Renewable Energy Operations LLC,144A,4.25%, 7/1/29 | | | 245,000 | | | | 230,202 | |
Lightning Power LLC,144A,7.25%, 8/15/32 | | | 975,000 | | | | 1,007,465 | |
NextEra Energy Operating Partners LP | | | | | | | | |
144A,3.875%, 10/15/26 | | | 320,000 | | | | 309,569 | |
144A,4.50%, 9/15/27 | | | 352,000 | | | | 339,971 | |
144A,7.25%, 1/15/29 | | | 480,000 | | | | 502,545 | |
NRG Energy, Inc. | | | | | | | | |
6.625%, 1/15/27 | | | 243,000 | | | | 243,330 | |
5.75%, 1/15/28 | | | 526,000 | | | | 526,118 | |
144A,3.375%, 2/15/29 | | | 320,000 | | | | 293,655 | |
144A,5.25%, 6/15/29 | | | 464,000 | | | | 458,668 | |
144A,3.625%, 2/15/31 | | | 648,000 | | | | 579,763 | |
144A,3.875%, 2/15/32 | | | 294,000 | | | | 263,542 | |
Pattern Energy Operations LP / Pattern Energy Operations, Inc.,144A,4.50%, 8/15/28 | | | 391,000 | | | | 376,001 | |
PG&E Corp. | | | | | | | | |
5.00%, 7/1/28 | | | 653,000 | | | | 639,570 | |
5.25%, 7/1/30 | | | 653,000 | | | | 639,342 | |
Pike Corp. | | | | | | | | |
144A,5.50%, 9/1/28 | | | 400,000 | | | | 389,647 | |
144A,8.625%, 1/31/31 | | | 259,000 | | | | 279,600 | |
Talen Energy Supply LLC,144A,8.625%, 6/1/30 | | | 768,000 | | | | 831,588 | |
TransAlta Corp. | | | | | | | | |
7.75%, 11/15/29 | | | 259,000 | | | | 273,567 | |
6.50%, 3/15/40 | | | 204,000 | | | | 211,885 | |
Vistra Operations Co. LLC | | | | | | | | |
144A,5.50%, 9/1/26 | | | 640,000 | | | | 638,651 | |
144A,5.625%, 2/15/27 | | | 832,000 | | | | 830,748 | |
144A,5.00%, 7/31/27 | | | 832,000 | | | | 823,510 | |
144A,4.375%, 5/1/29 | | | 800,000 | | | | 765,885 | |
144A,7.75%, 10/15/31 | | | 929,000 | | | | 988,475 | |
See Notes to Financial Statements.
DBX ETF Trust | 63
Schedule of Investments
Xtrackers USD High Yield BB-B ex Financials ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,6.875%, 4/15/32 | | | 650,000 | | | | 675,150 | |
| | |
(Cost $21,343,960) | | | | | | | 22,041,049 | |
| | |
Gas — 0.1% | | | | | | | | |
AmeriGas Partners LP / AmeriGas Finance Corp. | | | | | | | | |
5.875%, 8/20/26 | | | 413,000 | | | | 408,457 | |
5.75%, 5/20/27 | | | 332,000 | | | | 324,286 | |
144A,9.375%, 6/1/28 | | | 326,000 | | | | 342,267 | |
| | |
(Cost $1,055,503) | | | | | | | 1,075,010 | |
| | |
TOTAL CORPORATE BONDS | | | | | | | | |
| | |
(Cost $622,278,863) | | | | | | | 641,048,921 | |
| | | | | | | | |
| | | Number of Shares | | | Value $ | |
| | |
SECURITIES LENDING COLLATERAL — 2.6% | | | | | | | | |
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (b)(c) | | | | | | | | |
| | |
(Cost $16,776,173) | | | 16,776,173 | | | | 16,776,173 | |
| | |
CASH EQUIVALENTS — 1.4% | | | | | | | | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (b) | | | | | | | | |
| | |
(Cost $9,081,613) | | | 9,081,613 | | | | 9,081,613 | |
| | |
TOTAL INVESTMENTS — 101.8% | | | | | | | | |
| | |
(Cost $648,136,649) | | | | | | | 666,906,707 | |
| | |
Other assets and liabilities, net — (1.8%) | | | | | | | (11,825,252 | ) |
| | |
NET ASSETS — 100.0% | | | | | | | 655,081,455 | |
A summary of the Fund’s transactions with affiliated investments during the period ended August 31, 2024 is as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Value ($) at 10/27/2023 (Commencement of Operations) | | Purchases Cost ($) | | Sales Proceeds ($) | | Net Realized Gain/(Loss) ($) | | Net Change in Unrealized Appreciation (Depreciation) ($) | | | Income ($) | | Capital Gain Distributions ($) | | Number of Shares at 8/31/2024 | | | Value ($) at 8/31/2024 |
SECURITIES LENDING COLLATERAL — 2.6% | |
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (b)(c) | |
— | | | 16,776,173 | (d) | | | — | | | | — | | | | — | | | | 57,818 | | | | — | | | | 16,776,173 | | | | 16,776,173 | |
CASH EQUIVALENTS — 1.4% | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (b) | |
— | | | 65,858,091 | | | | (56,776,478 | ) | | | — | | | | — | | | | 240,687 | | | | — | | | | 9,081,613 | | | | 9,081,613 | |
— | | | 82,634,264 | | | | (56,776,478 | ) | | | — | | | | — | | | | 298,505 | | | | — | | | | 25,857,786 | | | | 25,857,786 | |
| (a) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at August 31, 2024 amounted to $16,134,348, which is 2.5% of net assets. |
| (b) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
| (c) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. |
| (d) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended August 31, 2024. |
| Perpetual: | Callable security with no stated maturity date. |
| PIK: | Denotes that all or a portion of the income is paid in-kind in the form of additional principal. |
| REIT: | Real Estate Investment Trust |
| 144A: | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
See Notes to Financial Statements.
64 | DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield BB-B ex Financials ETF (Continued)
August 31, 2024
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of August 31, 2024 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 (a) | | $ | — | | | $ | 641,048,921 | | | $ | — | | | $ | 641,048,921 | |
Short-Term Investments (a) | | | 25,857,786 | | | | — | | | | — | | | | 25,857,786 | |
TOTAL | | $ | 25,857,786 | | | $ | 641,048,921 | | | $ | — | | | $ | 666,906,707 | |
| (a) | See Schedule of Investments for additional detailed categorizations. |
See Notes to Financial Statements.
DBX ETF Trust | 65
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
CORPORATE BONDS — 97.9% | | | | | | | | |
| | |
Basic Materials — 4.6% | | | | | | | | |
| | |
Chemicals — 1.9% | | | | | | | | |
Ashland, Inc.,144A,3.375%, 9/1/31 | | | 1,640,000 | | | | 1,438,167 | |
ASP Unifrax Holdings, Inc. | | | | | | | | |
144A,5.25%, 9/30/28 | | | 3,044,000 | | | | 1,578,390 | |
144A,7.50%, 9/30/29 | | | 1,504,000 | | | | 754,249 | |
Avient Corp.,144A,7.125%, 8/1/30 | | | 2,879,000 | | | | 2,998,884 | |
Axalta Coating Systems Dutch Holding B BV,144A,7.25%, 2/15/31 | | | 1,906,000 | | | | 2,020,876 | |
Axalta Coating Systems LLC,144A,3.375%, 2/15/29 | | | 2,569,000 | | | | 2,384,464 | |
Chemours Co. | | | | | | | | |
5.375%, 5/15/27 | | | 1,877,000 | | | | 1,825,469 | |
144A,5.75%, 11/15/28 | | | 3,001,000 | | | | 2,815,557 | |
144A,4.625%, 11/15/29 | | | 2,399,000 | | | | 2,112,848 | |
Consolidated Energy Finance SA | | | | | | | | |
144A,5.625%, 10/15/28 | | | 2,022,000 | | | | 1,641,996 | |
144A,12.00%, 2/15/31 | | | 2,304,000 | | | | 2,270,537 | |
INEOS Finance PLC | | | | | | | | |
144A,6.75%, 5/15/28 (a) | | | 1,616,000 | | | | 1,629,214 | |
144A,7.50%, 4/15/29 (a) | | | 2,764,000 | | | | 2,864,140 | |
INEOS Quattro Finance 2 PLC,144A,9.625%, 3/15/29 | | | 1,525,000 | | | | 1,646,776 | |
Methanex Corp. | | | | | | | | |
5.125%, 10/15/27 | | | 2,706,000 | | | | 2,665,263 | |
5.25%, 12/15/29 | | | 2,656,000 | | | | 2,612,118 | |
NOVA Chemicals Corp. | | | | | | | | |
144A,5.25%, 6/1/27 | | | 3,988,000 | | | | 3,940,804 | |
144A,8.50%, 11/15/28 | | | 1,542,000 | | | | 1,645,909 | |
144A,4.25%, 5/15/29 (a) | | | 2,189,000 | | | | 1,999,122 | |
144A,9.00%, 2/15/30 | | | 2,480,000 | | | | 2,666,950 | |
Olin Corp. | | | | | | | | |
5.125%, 9/15/27 | | | 1,977,000 | | | | 1,954,670 | |
5.625%, 8/1/29 | | | 2,572,000 | | | | 2,566,671 | |
5.00%, 2/1/30 | | | 1,996,000 | | | | 1,931,229 | |
SCIH Salt Holdings, Inc. | | | | | | | | |
144A,4.875%, 5/1/28 | | | 4,234,000 | | | | 4,038,918 | |
144A,6.625%, 5/1/29 | | | 2,726,000 | | | | 2,611,413 | |
Tronox, Inc.,144A,4.625%, 3/15/29 | | | 4,143,000 | | | | 3,779,632 | |
WR Grace Holdings LLC | | | | | | | | |
144A,4.875%, 6/15/27 | | | 2,980,000 | | | | 2,917,860 | |
144A,5.625%, 8/15/29 | | | 4,383,000 | | | | 4,068,134 | |
| | |
(Cost $71,297,148) | | | | | | | 67,380,260 | |
| | |
Forest Products & Paper — 0.1% | | | | | | | | |
Mercer International, Inc.,5.125%, 2/1/29 | | | | | | | | |
| | |
(Cost $3,249,650) | | | 3,313,000 | | | | 2,711,603 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Iron/Steel — 0.7% | | | | | | | | |
ATI, Inc.,7.25%, 8/15/30 (a) | | | 1,660,000 | | | | 1,768,737 | |
Cleveland-Cliffs, Inc. | | | | | | | | |
5.875%, 6/1/27 | | | 2,145,000 | | | | 2,143,544 | |
144A,6.75%, 4/15/30 | | | 2,840,000 | | | | 2,882,833 | |
144A,7.00%, 3/15/32 (a) | | | 5,460,000 | | | | 5,490,061 | |
Metinvest BV,144A,7.75%, 10/17/29 | | | 1,300,000 | | | | 855,842 | |
Mineral Resources Ltd. | | | | | | | | |
144A,8.125%, 5/1/27 | | | 2,743,000 | | | | 2,768,839 | |
144A,8.00%, 11/1/27 | | | 2,580,000 | | | | 2,623,463 | |
144A,9.25%, 10/1/28 | | | 4,240,000 | | | | 4,484,630 | |
144A,8.50%, 5/1/30 | | | 2,374,000 | | | | 2,470,776 | |
United States Steel Corp.,6.875%, 3/1/29 | | | 1,788,000 | | | | 1,804,730 | |
| | |
(Cost $27,263,622) | | | | | | | 27,293,455 | |
| | |
Mining — 1.9% | | | | | | | | |
Alcoa Nederland Holding BV | | | | | | | | |
144A,5.50%, 12/15/27 | | | 2,872,000 | | | | 2,868,385 | |
144A,6.125%, 5/15/28 | | | 1,902,000 | | | | 1,928,248 | |
144A,4.125%, 3/31/29 | | | 1,919,000 | | | | 1,830,223 | |
144A,7.125%, 3/15/31 | | | 2,972,000 | | | | 3,127,739 | |
Arsenal AIC Parent LLC | | | | | | | | |
144A,8.00%, 10/1/30 | | | 2,656,000 | | | | 2,858,905 | |
144A,11.50%, 10/1/31 | | | 1,906,000 | | | | 2,158,067 | |
First Quantum Minerals Ltd. | | | | | | | | |
144A,6.875%, 10/15/27 | | | 5,720,000 | | | | 5,678,197 | |
144A,9.375%, 3/1/29 | | | 6,100,000 | | | | 6,498,049 | |
144A,8.625%, 6/1/31 | | | 5,043,000 | | | | 5,047,326 | |
FMG Resources August 2006 Pty Ltd. | | | | | | | | |
144A,4.50%, 9/15/27 | | | 2,265,000 | | | | 2,193,271 | |
144A,5.875%, 4/15/30 | | | 2,750,000 | | | | 2,748,224 | |
144A,4.375%, 4/1/31 | | | 5,706,000 | | | | 5,240,141 | |
144A,6.125%, 4/15/32 | | | 2,981,000 | | | | 2,980,386 | |
Hudbay Minerals, Inc. | | | | | | | | |
144A,4.50%, 4/1/26 | | | 2,365,000 | | | | 2,337,577 | |
144A,6.125%, 4/1/29 | | | 1,883,000 | | | | 1,902,305 | |
Kaiser Aluminum Corp. | | | | | | | | |
144A,4.625%, 3/1/28 | | | 1,944,000 | | | | 1,848,199 | |
144A,4.50%, 6/1/31 | | | 2,206,000 | | | | 1,984,638 | |
Nexa Resources SA,144A,6.50%, 1/18/28 | | | 1,523,000 | | | | 1,581,803 | |
Novelis Corp. | | | | | | | | |
144A,3.25%, 11/15/26 | | | 3,045,000 | | | | 2,933,948 | |
144A,4.75%, 1/30/30 | | | 6,121,000 | | | | 5,851,705 | |
144A,3.875%, 8/15/31 | | | 2,896,000 | | | | 2,599,553 | |
Vedanta Resources Finance II PLC,144A,9.25%, 4/23/26 | | | 1,835,000 | | | | 1,821,766 | |
| | |
(Cost $67,800,288) | | | | | | | 68,018,655 | |
See Notes to Financial Statements.
66 | DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Communications — 17.2% | | | | | | | | |
Advertising — 1.0% | | | | | | | | |
Clear Channel Outdoor Holdings, Inc. | | | | | | | | |
144A,5.125%, 8/15/27 | | | 4,843,000 | | | | 4,735,108 | |
144A,7.75%, 4/15/28 | | | 3,854,000 | | | | 3,362,842 | |
144A,9.00%, 9/15/28 (a) | | | 2,666,000 | | | | 2,836,339 | |
144A,7.50%, 6/1/29 (a) | | | 3,997,000 | | | | 3,373,341 | |
144A,7.875%, 4/1/30 | | | 3,334,000 | | | | 3,486,270 | |
Lamar Media Corp. | | | | | | | | |
3.75%, 2/15/28 | | | 2,351,000 | | | | 2,254,729 | |
4.00%, 2/15/30 | | | 2,120,000 | | | | 1,981,180 | |
3.625%, 1/15/31 | | | 1,987,000 | | | | 1,800,818 | |
Outfront Media Capital LLC / Outfront Media Capital Corp. | | | | | | | | |
144A,5.00%, 8/15/27 (a) | | | 2,419,000 | | | | 2,404,213 | |
144A,4.25%, 1/15/29 | | | 1,941,000 | | | | 1,833,760 | |
144A,4.625%, 3/15/30 | | | 1,904,000 | | | | 1,786,663 | |
144A,7.375%, 2/15/31 | | | 1,665,000 | | | | 1,772,248 | |
Stagwell Global LLC,144A,5.625%, 8/15/29 | | | 4,188,000 | | | | 3,973,775 | |
| | |
(Cost $37,246,057) | | | | | | | 35,601,286 | |
| | |
Internet — 1.1% | | | | | | | | |
Cogent Communications Group LLC | | | | | | | | |
144A,3.50%, 5/1/26 | | | 1,898,000 | | | | 1,838,435 | |
144A,7.00%, 6/15/27 | | | 1,726,000 | | | | 1,748,669 | |
Gen Digital, Inc. | | | | | | | | |
144A,6.75%, 9/30/27 | | | 3,426,000 | | | | 3,511,931 | |
144A,7.125%, 9/30/30 (a) | | | 2,284,000 | | | | 2,387,678 | |
Go Daddy Operating Co. LLC / GD Finance Co., Inc. | | | | | | | | |
144A,5.25%, 12/1/27 | | | 2,313,000 | | | | 2,307,510 | |
144A,3.50%, 3/1/29 | | | 3,063,000 | | | | 2,850,638 | |
Match Group Holdings II LLC | | | | | | | | |
144A,5.00%, 12/15/27 | | | 1,713,000 | | | | 1,686,633 | |
144A,4.625%, 6/1/28 | | | 1,904,000 | | | | 1,832,474 | |
144A,4.125%, 8/1/30 | | | 1,914,000 | | | | 1,764,721 | |
144A,3.625%, 10/1/31 | | | 1,904,000 | | | | 1,691,926 | |
MercadoLibre, Inc.,3.125%, 1/14/31 | | | 2,249,000 | | | | 2,005,258 | |
Newfold Digital Holdings Group, Inc.,144A,11.75%, 10/15/28 | | | 1,985,000 | | | | 1,973,553 | |
Rakuten Group, Inc. | | | | | | | | |
144A,11.25%, 2/15/27 | | | 6,844,000 | | | | 7,440,386 | |
144A,9.75%, 4/15/29 | | | 7,614,000 | | | | 8,212,651 | |
| | |
(Cost $40,934,273) | | | | | | | 41,252,463 | |
| | |
Media — 9.7% | | | | | | | | |
AMC Networks, Inc. | | | | | | | | |
144A,10.25%, 1/15/29 | | | 3,355,000 | | | | 3,374,711 | |
4.25%, 2/15/29 (a) | | | 3,719,000 | | | | 2,641,188 | |
Cable One, Inc.,144A,4.00%, 11/15/30 (a) | | | 2,475,000 | | | | 1,901,840 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
CCO Holdings LLC / CCO Holdings Capital Corp. | | | | | | | | |
144A,5.50%, 5/1/26 | | | 2,735,000 | | | | 2,730,581 | |
144A,5.125%, 5/1/27 | | | 12,332,000 | | | | 12,096,030 | |
144A,5.00%, 2/1/28 | | | 9,498,000 | | | | 9,159,694 | |
144A,5.375%, 6/1/29 | | | 5,706,000 | | | | 5,417,893 | |
144A,6.375%, 9/1/29 | | | 5,749,000 | | | | 5,683,292 | |
144A,4.75%, 3/1/30 | | | 11,610,000 | | | | 10,593,472 | |
144A,4.50%, 8/15/30 | | | 10,467,000 | | | | 9,344,381 | |
144A,4.25%, 2/1/31 | | | 11,423,000 | | | | 9,921,396 | |
144A,7.375%, 3/1/31 (a) | | | 4,161,000 | | | | 4,237,958 | |
144A,4.75%, 2/1/32 | | | 4,568,000 | | | | 3,984,460 | |
4.50%, 5/1/32 | | | 11,036,000 | | | | 9,433,733 | |
144A,4.50%, 6/1/33 | | | 6,655,000 | | | | 5,569,606 | |
144A,4.25%, 1/15/34 | | | 7,614,000 | | | | 6,146,636 | |
CSC Holdings LLC | | | | | | | | |
144A,5.50%, 4/15/27 (a) | | | 4,972,000 | | | | 4,075,607 | |
144A,5.375%, 2/1/28 | | | 3,807,000 | | | | 2,931,143 | |
144A,7.50%, 4/1/28 | | | 3,982,000 | | | | 2,060,257 | |
144A,11.25%, 5/15/28 (a) | | | 3,807,000 | | | | 3,386,928 | |
144A,11.75%, 1/31/29 | | | 7,804,000 | | | | 6,895,864 | |
144A,6.50%, 2/1/29 | | | 6,662,000 | | | | 5,035,013 | |
144A,5.75%, 1/15/30 | | | 8,566,000 | | | | 3,428,709 | |
144A,4.125%, 12/1/30 | | | 4,188,000 | | | | 2,766,100 | |
144A,4.625%, 12/1/30 (a) | | | 8,892,000 | | | | 3,485,523 | |
144A,3.375%, 2/15/31 (a) | | | 3,814,000 | | | | 2,466,791 | |
144A,4.50%, 11/15/31 | | | 5,672,000 | | | | 3,777,823 | |
144A,5.00%, 11/15/31 (a) | | | 1,902,000 | | | | 717,861 | |
Directv Financing LLC,144A,8.875%, 2/1/30 | | | 2,800,000 | | | | 2,843,593 | |
Directv Financing LLC / Directv Financing Co.-Obligor, Inc.,144A,5.875%, 8/15/27 | | | 14,129,000 | | | | 13,694,864 | |
DISH DBS Corp. | | | | | | | | |
7.75%, 7/1/26 | | | 7,668,000 | | | | 5,166,629 | |
144A,5.25%, 12/1/26 | | | 10,465,000 | | | | 8,984,208 | |
7.375%, 7/1/28 | | | 3,831,000 | | | | 1,975,433 | |
144A,5.75%, 12/1/28 | | | 9,525,000 | | | | 7,346,469 | |
5.125%, 6/1/29 | | | 5,729,000 | | | | 2,614,509 | |
DISH Network Corp.,144A,11.75%, 11/15/27 | | | 13,444,000 | | | | 13,681,085 | |
Gray Escrow II, Inc.,144A,5.375%, 11/15/31 | | | 4,900,000 | | | | 2,810,895 | |
Gray Television, Inc. | | | | | | | | |
144A,7.00%, 5/15/27 (a) | | | 2,567,000 | | | | 2,478,248 | |
144A,10.50%, 7/15/29 | | | 4,818,000 | | | | 4,949,474 | |
144A,4.75%, 10/15/30 | | | 3,061,000 | | | | 1,745,944 | |
iHeartCommunications, Inc. | | | | | | | | |
6.375%, 5/1/26 (a) | | | 3,046,139 | | | | 2,561,358 | |
8.375%, 5/1/27 (a) | | | 3,496,951 | | | | 1,595,709 | |
144A,5.25%, 8/15/27 (a) | | | 2,856,000 | | | | 1,789,349 | |
144A,4.75%, 1/15/28 (a) | | | 1,914,000 | | | | 1,100,107 | |
See Notes to Financial Statements.
DBX ETF Trust | 67
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
LCPR Senior Secured Financing DAC | | | | | | | | |
144A,6.75%, 10/15/27 | | | 4,420,000 | | | | 4,045,595 | |
144A,5.125%, 7/15/29 (a) | | | 3,122,000 | | | | 2,524,583 | |
McGraw-Hill Education, Inc. | | | | | | | | |
144A,5.75%, 8/1/28 | | | 3,302,000 | | | | 3,239,621 | |
144A,8.00%, 8/1/29 | | | 2,425,000 | | | | 2,417,337 | |
144A,7.375%, 9/1/31 | | | 2,415,000 | | | | 2,495,917 | |
News Corp. | | | | | | | | |
144A,3.875%, 5/15/29 | | | 3,824,000 | | | | 3,599,804 | |
144A,5.125%, 2/15/32 | | | 1,917,000 | | | | 1,865,291 | |
Nexstar Media, Inc. | | | | | | | | |
144A,5.625%, 7/15/27 | | | 6,503,000 | | | | 6,360,433 | |
144A,4.75%, 11/1/28 (a) | | | 3,807,000 | | | | 3,561,131 | |
Radiate Holdco LLC / Radiate Finance, Inc. | | | | | | | | |
144A,4.50%, 9/15/26 | | | 3,369,000 | | | | 2,673,014 | |
144A,6.50%, 9/15/28 | | | 3,845,000 | | | | 2,072,328 | |
Sinclair Television Group, Inc. | | | | | | | | |
144A,5.50%, 3/1/30 (a) | | | 1,845,000 | | | | 1,104,011 | |
144A,4.125%, 12/1/30 (a) | | | 2,807,000 | | | | 1,983,328 | |
Sirius XM Radio, Inc. | | | | | | | | |
144A,3.125%, 9/1/26 | | | 3,933,000 | | | | 3,765,250 | |
144A,5.00%, 8/1/27 | | | 5,692,000 | | | | 5,569,631 | |
144A,4.00%, 7/15/28 | | | 7,604,000 | | | | 7,129,860 | |
144A,5.50%, 7/1/29 | | | 4,743,000 | | | | 4,620,459 | |
144A,4.125%, 7/1/30 | | | 5,705,000 | | | | 5,126,158 | |
144A,3.875%, 9/1/31 | | | 5,711,000 | | | | 4,906,125 | |
Sunrise FinCo I BV,144A,4.875%, 7/15/31 | | | 4,753,000 | | | | 4,427,657 | |
Sunrise HoldCo IV BV,144A,5.50%, 1/15/28 | | | 1,728,000 | | | | 1,706,437 | |
TEGNA, Inc. | | | | | | | | |
144A,4.75%, 3/15/26 | | | 2,087,000 | | | | 2,062,902 | |
4.625%, 3/15/28 | | | 3,807,000 | | | | 3,592,532 | |
5.00%, 9/15/29 | | | 4,188,000 | | | | 3,893,048 | |
Telenet Finance Luxembourg Notes SARL,144A,5.50%, 3/1/28 | | | 3,800,000 | | | | 3,688,186 | |
Univision Communications, Inc. | | | | | | | | |
144A,6.625%, 6/1/27 | | | 5,842,000 | | | | 5,787,655 | |
144A,8.00%, 8/15/28 | | | 5,552,000 | | | | 5,621,650 | |
144A,4.50%, 5/1/29 | | | 3,954,000 | | | | 3,474,318 | |
144A,7.375%, 6/30/30 | | | 3,395,000 | | | | 3,260,999 | |
144A,8.50%, 7/31/31 | | | 1,904,000 | | | | 1,901,551 | |
Virgin Media Finance PLC,144A,5.00%, 7/15/30 | | | 3,517,000 | | | | 3,051,832 | |
Virgin Media Secured Finance PLC | | | | | | | | |
144A,5.50%, 5/15/29 | | | 5,425,000 | | | | 5,146,529 | |
144A,4.50%, 8/15/30 | | | 3,483,000 | | | | 3,078,874 | |
VTR Finance NV,144A,6.375%, 7/15/28 | | | 1,850,000 | | | | 1,703,151 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Ziggo Bond Co. BV | | | | | | | | |
144A,6.00%, 1/15/27 | | | 2,312,000 | | | | 2,306,806 | |
144A,5.125%, 2/28/30 (a) | | | 1,904,000 | | | | 1,720,700 | |
Ziggo BV,144A,4.875%, 1/15/30 | | | 3,780,000 | | | | 3,528,979 | |
| | |
(Cost $397,966,550) | | | | | | | 347,616,046 | |
| | |
Telecommunications — 5.4% | | | | | | | | |
Altice Financing SA | | | | | | | | |
144A,5.00%, 1/15/28 | | | 4,568,000 | | | | 3,674,636 | |
144A,5.75%, 8/15/29 | | | 7,801,000 | | | | 6,018,196 | |
Altice France Holding SA | | | | | | | | |
144A,10.50%, 5/15/27 | | | 5,992,000 | | | | 2,377,224 | |
144A,6.00%, 2/15/28 | | | 4,186,000 | | | | 1,374,059 | |
Altice France SA | | | | | | | | |
144A,8.125%, 2/1/27 (a) | | | 6,632,000 | | | | 5,341,518 | |
144A,5.50%, 1/15/28 | | | 4,193,000 | | | | 2,989,037 | |
144A,5.125%, 1/15/29 | | | 1,808,000 | | | | 1,257,544 | |
144A,5.125%, 7/15/29 | | | 9,505,000 | | | | 6,643,258 | |
144A,5.50%, 10/15/29 | | | 7,594,000 | | | | 5,277,948 | |
C&W Senior Finance Ltd.,144A,6.875%, 9/15/27 | | | 4,641,000 | | | | 4,573,955 | |
CommScope LLC | | | | | | | | |
144A,6.00%, 3/1/26 | | | 5,722,000 | | | | 5,514,577 | |
144A,8.25%, 3/1/27 | | | 3,319,000 | | | | 2,776,967 | |
144A,7.125%, 7/1/28 | | | 2,409,000 | | | | 1,777,341 | |
144A,4.75%, 9/1/29 | | | 4,788,000 | | | | 3,866,310 | |
CommScope Technologies LLC,144A,5.00%, 3/15/27 | | | 2,855,000 | | | | 2,188,684 | |
Connect Finco SARL / Connect US Finco LLC,144A,6.75%, 10/1/26 | | | 7,495,000 | | | | 7,441,329 | |
Consolidated Communications, Inc. | | | | | | | | |
144A,5.00%, 10/1/28 | | | 1,538,000 | | | | 1,349,849 | |
144A,6.50%, 10/1/28 | | | 2,846,000 | | | | 2,611,925 | |
CT Trust,144A,5.125%, 2/3/32 | | | 2,800,000 | | | | 2,518,606 | |
Frontier Communications Holdings LLC | | | | | | | | |
144A,5.875%, 10/15/27 | | | 4,260,000 | | | | 4,248,287 | |
144A,5.00%, 5/1/28 | | | 5,901,000 | | | | 5,735,623 | |
144A,6.75%, 5/1/29 (a) | | | 3,807,000 | | | | 3,675,639 | |
5.875%, 11/1/29 (a) | | | 2,891,189 | | | | 2,662,856 | |
144A,6.00%, 1/15/30 (a) | | | 3,794,000 | | | | 3,503,441 | |
144A,8.75%, 5/15/30 | | | 4,520,000 | | | | 4,765,712 | |
144A,8.625%, 3/15/31 | | | 2,855,000 | | | | 3,023,902 | |
Hughes Satellite Systems Corp. | | | | | | | | |
5.25%, 8/1/26 (a) | | | 2,859,000 | | | | 2,393,137 | |
6.625%, 8/1/26 (a) | | | 2,711,500 | | | | 1,464,978 | |
Iliad Holding SASU | | | | | | | | |
144A,6.50%, 10/15/26 | | | 2,600,000 | | | | 2,625,009 | |
144A,7.00%, 10/15/28 | | | 3,250,000 | | | | 3,301,334 | |
144A,8.50%, 4/15/31 | | | 3,617,000 | | | | 3,836,794 | |
Intelsat Jackson Holdings SA,144A,6.50%, 3/15/30 | | | 11,421,000 | | | | 10,994,976 | |
See Notes to Financial Statements.
68 | DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Level 3 Financing, Inc. | | | | | | | | |
144A,4.25%, 7/1/28 | | | 2,047,000 | | | | 1,448,396 | |
144A,10.50%, 4/15/29 | | | 2,858,000 | | | | 3,077,980 | |
144A,4.875%, 6/15/29 (a) | | | 2,530,000 | | | | 1,979,852 | |
144A,11.00%, 11/15/29 (a) | | | 6,027,000 | | | | 6,614,976 | |
144A,4.50%, 4/1/30 (a) | | | 2,832,000 | | | | 2,090,105 | |
144A,10.50%, 5/15/30 (a) | | | 3,863,000 | | | | 4,158,404 | |
144A,3.875%, 10/15/30 | | | 1,910,000 | | | | 1,309,244 | |
144A,10.75%, 12/15/30 | | | 2,757,000 | | | | 2,982,991 | |
144A,4.00%, 4/15/31 | | | 1,880,000 | | | | 1,268,984 | |
Lumen Technologies, Inc. | | | | | | | | |
144A,4.50%, 1/15/29 | | | 1,683,000 | | | | 956,331 | |
144A,4.125%, 4/15/30 (a) | | | 1,975,000 | | | | 1,483,572 | |
Millicom International Cellular SA | | | | | | | | |
144A,5.125%, 1/15/28 | | | 1,370,700 | | | | 1,327,357 | |
144A,6.25%, 3/25/29 | | | 2,261,700 | | | | 2,239,276 | |
144A,4.50%, 4/27/31 (a) | | | 2,948,000 | | | | 2,629,733 | |
144A,7.375%, 4/2/32 | | | 1,824,000 | | | | 1,849,007 | |
Optics Bidco SpA | | | | | | | | |
144A,Series 2033, 6.375%, 11/15/33 | | | 1,908,000 | | | | 1,915,417 | |
144A,6.00%, 9/30/34 | | | 1,857,000 | | | | 1,810,515 | |
144A,Series 2036, 7.20%, 7/18/36 | | | 1,923,000 | | | | 2,029,338 | |
144A,Series 2038, 7.721%, 6/4/38 | | | 1,936,000 | | | | 2,101,236 | |
Sable International Finance Ltd.,144A,5.75%, 9/7/27 | | | 1,887,000 | | | | 1,868,602 | |
VEON Holdings BV,144A,3.375%, 11/25/27 | | | 3,716,000 | | | | 3,121,440 | |
Viasat, Inc. | | | | | | | | |
144A,5.625%, 9/15/25 | | | 2,421,000 | | | | 2,399,398 | |
144A,5.625%, 4/15/27 | | | 2,284,000 | | | | 2,169,774 | |
144A,6.50%, 7/15/28 | | | 1,538,000 | | | | 1,284,884 | |
144A,7.50%, 5/30/31 (a) | | | 2,788,000 | | | | 2,135,953 | |
Windstream Escrow LLC / Windstream Escrow Finance Corp.,144A,7.75%, 8/15/28 | | | 5,330,000 | | | | 5,208,375 | |
Zayo Group Holdings, Inc. | | | | | | | | |
144A,4.00%, 3/1/27 (a) | | | 5,618,000 | | | | 4,909,901 | |
144A,6.125%, 3/1/28 | | | 4,112,000 | | | | 3,183,161 | |
Zegona Finance PLC,144A,8.625%, 7/15/29 | | | 3,400,000 | | | | 3,538,338 | |
| | |
(Cost $214,958,594) | | | | | | | 194,897,191 | |
| | |
Consumer, Cyclical — 17.5% | | | | | | | | |
| | |
Airlines — 0.9% | | | | | | | | |
Air Canada,144A,3.875%, 8/15/26 | | | 4,553,000 | | | | 4,396,939 | |
American Airlines, Inc. | | | | | | | | |
144A,7.25%, 2/15/28 (a) | | | 2,854,000 | | | | 2,874,417 | |
144A,8.50%, 5/15/29 | | | 3,807,000 | | | | 3,960,369 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Hawaiian Brand Intellectual Property Ltd. / HawaiianMiles Loyalty Ltd.,144A,11.00%, 4/15/29 | | | 3,740,000 | | | | 3,809,901 | |
Spirit Loyalty Cayman Ltd. / Spirit IP Cayman Ltd. | | | | | | | | |
144A,8.00%, 9/20/25 (a) | | | 2,303,868 | | | | 1,440,349 | |
144A,8.00%, 9/20/25 (a) | | | 1,941,019 | | | | 1,213,501 | |
United Airlines, Inc. | | | | | | | | |
144A,4.375%, 4/15/26 | | | 7,614,000 | | | | 7,437,880 | |
144A,4.625%, 4/15/29 | | | 7,354,000 | | | | 7,005,279 | |
| | |
(Cost $34,459,773) | | | | | | | 32,138,635 | |
| | |
Apparel — 0.2% | | | | | | | | |
Hanesbrands, Inc. | | | | | | | | |
144A,4.875%, 5/15/26 | | | 3,424,000 | | | | 3,403,557 | |
144A,9.00%, 2/15/31 (a) | | | 2,284,000 | | | | 2,457,780 | |
Levi Strauss & Co.,144A,3.50%, 3/1/31 (a) | | | 1,904,000 | | | | 1,719,424 | |
| | |
(Cost $7,474,265) | | | | | | | 7,580,761 | |
| | |
Auto Manufacturers — 0.3% | | | | | | | | |
Allison Transmission, Inc. | | | | | | | | |
144A,4.75%, 10/1/27 | | | 1,521,000 | | | | 1,490,307 | |
144A,5.875%, 6/1/29 | | | 1,906,000 | | | | 1,912,791 | |
144A,3.75%, 1/30/31 | | | 3,822,000 | | | | 3,476,956 | |
Aston Martin Capital Holdings Ltd.,144A,10.00%, 3/31/29 | | | 3,993,000 | | | | 4,077,537 | |
| | |
(Cost $11,319,672) | | | | | | | 10,957,591 | |
| | |
Auto Parts & Equipment — 1.7% | | | | | | | | |
Adient Global Holdings Ltd. | | | | | | | | |
144A,4.875%, 8/15/26 | | | 2,976,000 | | | | 2,942,191 | |
144A,7.00%, 4/15/28 | | | 1,897,000 | | | | 1,951,404 | |
144A,8.25%, 4/15/31 (a) | | | 1,904,000 | | | | 2,025,536 | |
American Axle & Manufacturing, Inc. | | | | | | | | |
6.50%, 4/1/27 | | | 1,906,000 | | | | 1,917,253 | |
6.875%, 7/1/28 | | | 1,532,000 | | | | 1,540,817 | |
5.00%, 10/1/29 (a) | | | 2,301,000 | | | | 2,142,905 | |
Clarios Global LP / Clarios US Finance Co. | | | | | | | | |
144A,6.25%, 5/15/26 | | | 3,416,000 | | | | 3,425,322 | |
144A,8.50%, 5/15/27 | | | 5,880,000 | | | | 5,948,720 | |
144A,6.75%, 5/15/28 | | | 2,852,000 | | | | 2,934,759 | |
Dana, Inc. | | | | | | | | |
5.375%, 11/15/27 | | | 1,729,000 | | | | 1,717,404 | |
5.625%, 6/15/28 | | | 1,532,000 | | | | 1,511,323 | |
4.25%, 9/1/30 | | | 1,432,000 | | | | 1,291,312 | |
Goodyear Tire & Rubber Co. | | | | | | | | |
5.00%, 5/31/26 | | | 3,394,000 | | | | 3,354,629 | |
4.875%, 3/15/27 | | | 2,549,000 | | | | 2,492,430 | |
5.00%, 7/15/29 (a) | | | 3,216,000 | | | | 2,989,641 | |
5.25%, 4/30/31 (a) | | | 2,101,000 | | | | 1,905,298 | |
5.25%, 7/15/31 (a) | | | 2,296,000 | | | | 2,084,543 | |
See Notes to Financial Statements.
DBX ETF Trust | 69
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
5.625%, 4/30/33 (a) | | | 1,723,000 | | | | 1,518,852 | |
Tenneco, Inc.,144A,8.00%, 11/17/28 | | | 7,225,000 | | | | 6,761,737 | |
ZF North America Capital, Inc. | | | | | | | | |
144A,6.875%, 4/14/28 | | | 2,117,000 | | | | 2,188,957 | |
144A,7.125%, 4/14/30 | | | 2,284,000 | | | | 2,395,699 | |
144A,6.75%, 4/23/30 | | | 3,179,000 | | | | 3,270,393 | |
144A,6.875%, 4/23/32 | | | 2,659,000 | | | | 2,764,706 | |
| | |
(Cost $62,016,328) | | | | | | | 61,075,831 | |
| | |
Distribution/Wholesale — 0.4% | | | | | | | | |
American Builders & Contractors Supply Co., Inc. | | | | | | | | |
144A,4.00%, 1/15/28 | | | 2,669,000 | | | | 2,573,910 | |
144A,3.875%, 11/15/29 | | | 1,532,000 | | | | 1,419,564 | |
H&E Equipment Services, Inc.,144A,3.875%, 12/15/28 | | | 4,759,000 | | | | 4,412,976 | |
Ritchie Bros Holdings, Inc. | | | | | | | | |
144A,6.75%, 3/15/28 | | | 2,106,000 | | | | 2,169,325 | |
144A,7.75%, 3/15/31 | | | 3,046,000 | | | | 3,241,578 | |
| | |
(Cost $14,246,563) | | | | | | | 13,817,353 | |
| | |
Entertainment — 2.9% | | | | | | | | |
Allwyn Entertainment Financing UK PLC,144A,7.875%, 4/30/29 | | | 2,600,000 | | | | 2,709,044 | |
AMC Entertainment Holdings, Inc.,144A,7.50%, 2/15/29 (a) | | | 3,623,000 | | | | 2,642,415 | |
Banijay Entertainment SAS,144A,8.125%, 5/1/29 | | | 1,521,000 | | | | 1,583,248 | |
Caesars Entertainment, Inc. | | | | | | | | |
144A,8.125%, 7/1/27 (a) | | | 6,133,000 | | | | 6,267,343 | |
144A,4.625%, 10/15/29 (a) | | | 4,568,000 | | | | 4,323,767 | |
144A,7.00%, 2/15/30 | | | 7,597,000 | | | | 7,872,984 | |
144A,6.50%, 2/15/32 | | | 5,703,000 | | | | 5,864,144 | |
Churchill Downs, Inc. | | | | | | | | |
144A,5.50%, 4/1/27 | | | 2,249,000 | | | | 2,244,364 | |
144A,4.75%, 1/15/28 | | | 2,681,000 | | | | 2,616,401 | |
144A,5.75%, 4/1/30 | | | 4,568,000 | | | | 4,543,406 | |
144A,6.75%, 5/1/31 | | | 2,299,000 | | | | 2,365,372 | |
Cinemark USA, Inc. | | | | | | | | |
144A,5.25%, 7/15/28 (a) | | | 2,912,000 | | | | 2,863,071 | |
144A,7.00%, 8/1/32 | | | 1,912,000 | | | | 1,985,872 | |
International Game Technology PLC | | | | | | | | |
144A,4.125%, 4/15/26 | | | 2,855,000 | | | | 2,805,595 | |
144A,6.25%, 1/15/27 | | | 2,859,000 | | | | 2,908,026 | |
144A,5.25%, 1/15/29 | | | 2,852,000 | | | | 2,825,736 | |
Light & Wonder International, Inc. | | | | | | | | |
144A,7.00%, 5/15/28 | | | 2,664,000 | | | | 2,695,750 | |
144A,7.25%, 11/15/29 | | | 2,067,000 | | | | 2,143,177 | |
144A,7.50%, 9/1/31 | | | 2,094,000 | | | | 2,206,333 | |
Live Nation Entertainment, Inc. | | | | | | | | |
144A,6.50%, 5/15/27 | | | 4,562,000 | | | | 4,644,805 | |
144A,4.75%, 10/15/27 | | | 3,617,000 | | | | 3,526,105 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
144A,3.75%, 1/15/28 | | | 1,924,000 | | | | 1,827,688 | |
Merlin Entertainments Group US Holdings, Inc.,144A,7.375%, 2/15/31 | | | 1,976,000 | | | | 1,969,926 | |
Mohegan Tribal Gaming Authority | | | | | | | | |
144A,8.00%, 2/1/26 | | | 4,473,000 | | | | 4,340,575 | |
144A,13.25%, 12/15/27 | | | 1,910,000 | | | | 2,171,527 | |
Motion Bondco DAC,144A,6.625%, 11/15/27 | | | 1,420,000 | | | | 1,344,521 | |
Penn Entertainment, Inc. | | | | | | | | |
144A,5.625%, 1/15/27 | | | 1,329,000 | | | | 1,307,958 | |
144A,4.125%, 7/1/29 (a) | | | 1,594,000 | | | | 1,428,771 | |
Premier Entertainment Sub LLC / Premier Entertainment Finance Corp. | | | | | | | | |
144A,5.625%, 9/1/29 (a) | | | 2,866,000 | | | | 2,138,911 | |
144A,5.875%, 9/1/31 | | | 2,805,000 | | | | 1,948,331 | |
Vail Resorts, Inc.,144A,6.50%, 5/15/32 (a) | | | 2,284,000 | | | | 2,375,645 | |
WMG Acquisition Corp. | | | | | | | | |
144A,3.75%, 12/1/29 | | | 2,056,000 | | | | 1,919,312 | |
144A,3.875%, 7/15/30 (a) | | | 2,037,000 | | | | 1,892,226 | |
144A,3.00%, 2/15/31 (a) | | | 3,036,000 | | | | 2,702,494 | |
Wynn Resorts Finance LLC / Wynn Resorts Capital Corp. | | | | | | | | |
144A,5.125%, 10/1/29 | | | 2,852,000 | | | | 2,792,204 | |
144A,7.125%, 2/15/31 | | | 3,802,000 | | | | 4,037,568 | |
| | |
(Cost $109,254,122) | | | | | | | 105,834,615 | |
| | |
Food Service — 0.2% | | | | | | | | |
Aramark Services, Inc.,144A,5.00%, 2/1/28 | | | 4,375,000 | | | | 4,295,669 | |
TKC Holdings, Inc. | | | | | | | | |
144A,6.875%, 5/15/28 | | | 1,627,000 | | | | 1,621,100 | |
144A,10.50%, 5/15/29 | | | 2,570,000 | | | | 2,566,099 | |
| | |
(Cost $8,745,864) | | | | | | | 8,482,868 | |
| | |
Home Builders — 0.5% | | | | | | | | |
Ashton Woods USA LLC / Ashton Woods Finance Co.,144A,4.625%, 4/1/30 | | | 1,521,000 | | | | 1,432,830 | |
Brookfield Residential Properties, Inc. / Brookfield Residential US LLC | | | | | | | | |
144A,6.25%, 9/15/27 | | | 2,288,000 | | | | 2,284,004 | |
144A,4.875%, 2/15/30 | | | 1,917,000 | | | | 1,788,674 | |
Century Communities, Inc. | | | | | | | | |
6.75%, 6/1/27 | | | 1,888,000 | | | | 1,906,268 | |
144A,3.875%, 8/15/29 | | | 1,914,000 | | | | 1,774,902 | |
Mattamy Group Corp. | | | | | | | | |
144A,5.25%, 12/15/27 | | | 1,904,000 | | | | 1,884,831 | |
144A,4.625%, 3/1/30 | | | 2,277,000 | | | | 2,149,334 | |
Taylor Morrison Communities, Inc. | | | | | | | | |
144A,5.875%, 6/15/27 | | | 1,901,000 | | | | 1,925,515 | |
See Notes to Financial Statements.
70 | DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal
Amount $ | | | Value $ | |
| | |
144A,5.75%, 1/15/28 | | | 1,713,000 | | | | 1,728,722 | |
144A,5.125%, 8/1/30 | | | 1,904,000 | | | | 1,883,265 | |
| | |
(Cost $19,308,833) | | | | | | | 18,758,345 | |
| | |
Home Furnishings — 0.2% | | | | | | | | |
Tempur Sealy International, Inc. | | | | | | | | |
144A,4.00%, 4/15/29 (a) | | | 3,064,000 | | | | 2,844,207 | |
144A,3.875%, 10/15/31 | | | 3,042,000 | | | | 2,678,323 | |
| | |
(Cost $5,958,919) | | | | | | | 5,522,530 | |
| | |
Housewares — 0.5% | | | | | | | | |
Newell Brands, Inc. | | | | | | | | |
5.70%, 4/1/26 | | | 7,549,000 | | | | 7,530,294 | |
6.375%, 9/15/27 (a) | | | 1,904,000 | | | | 1,918,981 | |
6.625%, 9/15/29 | | | 1,887,000 | | | | 1,887,638 | |
Scotts Miracle-Gro Co. | | | | | | | | |
4.50%, 10/15/29 (a) | | | 1,567,000 | | | | 1,485,803 | |
4.00%, 4/1/31 | | | 1,819,000 | | | | 1,631,439 | |
4.375%, 2/1/32 | | | 1,525,000 | | | | 1,371,891 | |
| | |
(Cost $16,408,873) | | | | | | | 15,826,046 | |
| | |
Leisure Time — 2.9% | | | | | | | | |
Carnival Corp. | | | | | | | | |
144A,7.625%, 3/1/26 | | | 5,143,000 | | | | 5,198,544 | |
144A,5.75%, 3/1/27 | | | 10,373,000 | | | | 10,413,838 | |
144A,6.00%, 5/1/29 (a) | | | 7,614,000 | | | | 7,653,220 | |
144A,10.50%, 6/1/30 | | | 3,807,000 | | | | 4,134,859 | |
Carnival Holdings Bermuda Ltd.,
144A,10.375%, 5/1/28 | | | 7,728,000 | | | | 8,365,514 | |
Life Time, Inc. | | | | | | | | |
144A,5.75%, 1/15/26 | | | 3,519,000 | | | | 3,522,181 | |
144A,8.00%, 4/15/26 (a) | | | 1,739,000 | | | | 1,766,370 | |
NCL Corp. Ltd. | | | | | | | | |
144A,5.875%, 3/15/26 | | | 5,421,000 | | | | 5,421,431 | |
144A,5.875%, 2/15/27 | | | 3,804,000 | | | | 3,815,515 | |
144A,8.375%, 2/1/28 | | | 2,279,000 | | | | 2,407,025 | |
144A,8.125%, 1/15/29 | | | 2,998,000 | | | | 3,208,882 | |
144A,7.75%, 2/15/29 (a) | | | 2,279,000 | | | | 2,433,587 | |
Royal Caribbean Cruises Ltd. | | | | | | | | |
144A,4.25%, 7/1/26 | | | 2,471,000 | | | | 2,432,202 | |
144A,5.50%, 8/31/26 | | | 3,802,000 | | | | 3,810,258 | |
144A,5.375%, 7/15/27 | | | 3,854,000 | | | | 3,864,017 | |
3.70%, 3/15/28 | | | 1,940,000 | | | | 1,857,855 | |
144A,5.50%, 4/1/28 | | | 5,781,000 | | | | 5,829,260 | |
144A,7.25%, 1/15/30 | | | 2,698,000 | | | | 2,854,157 | |
144A,6.25%, 3/15/32 | | | 4,852,000 | | | | 5,013,780 | |
144A,6.00%, 2/1/33 | | | 7,430,000 | | | | 7,615,847 | |
Sabre GLBL, Inc. | | | | | | | | |
144A,8.625%, 6/1/27 | | | 3,438,000 | | | | 3,307,417 | |
144A,11.25%, 12/15/27 (a) | | | 2,128,000 | | | | 2,156,745 | |
Viking Cruises Ltd. | | | | | | | | |
144A,5.875%, 9/15/27 | | | 3,141,000 | | | | 3,139,628 | |
144A,7.00%, 2/15/29 | | | 1,903,000 | | | | 1,928,999 | |
| | | | | | | | |
| | | Principal
Amount $ | | | Value $ | |
| | |
144A,9.125%, 7/15/31 | | | 2,741,000 | | | | 3,009,144 | |
| | |
(Cost $104,418,113) | | | | | | | 105,160,275 | |
| | |
Lodging — 2.3% | | | | | | | | |
Boyd Gaming Corp. | | | | | | | | |
4.75%, 12/1/27 | | | 3,801,000 | | | | 3,736,923 | |
144A,4.75%, 6/15/31 | | | 3,424,000 | | | | 3,223,922 | |
Hilton Domestic Operating Co., Inc. | | | | | | | | |
144A,5.75%, 5/1/28 | | | 1,897,000 | | | | 1,901,674 | |
144A,5.875%, 4/1/29 | | | 2,098,000 | | | | 2,139,469 | |
144A,3.75%, 5/1/29 | | | 3,046,000 | | | | 2,867,357 | |
4.875%, 1/15/30 | | | 3,807,000 | | | | 3,738,137 | |
144A,4.00%, 5/1/31 | | | 4,184,000 | | | | 3,868,902 | |
144A,3.625%, 2/15/32 | | | 5,706,000 | | | | 5,118,043 | |
144A,6.125%, 4/1/32 | | | 1,716,000 | | | | 1,760,431 | |
Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand Vacations Borrower Esc | | | | | | | | |
144A,5.00%, 6/1/29 | | | 3,236,000 | | | | 3,061,899 | |
144A,4.875%, 7/1/31 | | | 1,904,000 | | | | 1,708,340 | |
144A,6.625%, 1/15/32 | | | 3,422,000 | | | | 3,465,774 | |
Marriott Ownership Resorts, Inc.,144A,4.50%, 6/15/29 (a) | | | 1,897,000 | | | | 1,766,078 | |
Melco Resorts Finance Ltd. | | | | | | | | |
144A,5.25%, 4/26/26 | | | 1,906,000 | | | | 1,864,921 | |
144A,5.625%, 7/17/27 | | | 2,293,000 | | | | 2,210,721 | |
144A,5.75%, 7/21/28 | | | 3,133,000 | | | | 2,990,036 | |
144A,5.375%, 12/4/29 | | | 4,491,000 | | | | 4,113,580 | |
144A,7.625%, 4/17/32 | | | 2,870,000 | | | | 2,878,455 | |
MGM Resorts International | | | | | | | | |
4.625%, 9/1/26 | | | 1,432,000 | | | | 1,413,642 | |
5.50%, 4/15/27 | | | 2,563,000 | | | | 2,564,446 | |
4.75%, 10/15/28 (a) | | | 2,872,000 | | | | 2,797,600 | |
6.50%, 4/15/32 | | | 2,855,000 | | | | 2,877,480 | |
Station Casinos LLC | | | | | | | | |
144A,4.50%, 2/15/28 | | | 2,634,000 | | | | 2,529,680 | |
144A,4.625%, 12/1/31 | | | 1,901,000 | | | | 1,765,938 | |
144A,6.625%, 3/15/32 | | | 1,917,000 | | | | 1,956,680 | |
Studio City Finance Ltd. | | | | | | | | |
144A,6.50%, 1/15/28 | | | 1,776,000 | | | | 1,710,631 | |
144A,5.00%, 1/15/29 | | | 4,176,000 | | | | 3,733,821 | |
Travel + Leisure Co. | | | | | | | | |
144A,6.625%, 7/31/26 | | | 2,475,000 | | | | 2,520,599 | |
6.00%, 4/1/27 | | | 1,519,000 | | | | 1,524,072 | |
144A,4.50%, 12/1/29 | | | 2,486,000 | | | | 2,319,703 | |
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp.,144A,5.25%, 5/15/27 | | | 3,424,000 | | | | 3,403,367 | |
| | |
(Cost $86,421,779) | | | | | | | 83,532,321 | |
See Notes to Financial Statements.
DBX ETF Trust | 71
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Retail — 4.5% | | | | | | | | |
1011778 BC ULC / New Red Finance, Inc. | | | | | | | | |
144A,3.875%, 1/15/28 | | | 5,936,000 | | | | 5,674,506 | |
144A,4.375%, 1/15/28 | | | 2,857,000 | | | | 2,770,674 | |
144A,3.50%, 2/15/29 | | | 2,800,000 | | | | 2,614,039 | |
144A,6.125%, 6/15/29 | | | 4,500,000 | | | | 4,599,113 | |
144A,4.00%, 10/15/30 | | | 11,177,000 | | | | 10,247,088 | |
Advance Auto Parts, Inc.,3.90%, 4/15/30 (a) | | | 1,921,000 | | | | 1,766,441 | |
Asbury Automotive Group, Inc. | | | | | | | | |
4.50%, 3/1/28 | | | 1,551,000 | | | | 1,505,148 | |
144A,4.625%, 11/15/29 | | | 2,920,000 | | | | 2,783,267 | |
4.75%, 3/1/30 | | | 1,704,000 | | | | 1,630,200 | |
144A,5.00%, 2/15/32 | | | 2,397,000 | | | | 2,259,418 | |
Bath & Body Works, Inc. | | | | | | | | |
5.25%, 2/1/28 | | | 1,687,000 | | | | 1,664,417 | |
7.50%, 6/15/29 (a) | | | 1,847,000 | | | | 1,916,390 | |
144A,6.625%, 10/1/30 | | | 3,231,000 | | | | 3,274,111 | |
Beacon Roofing Supply, Inc.,144A,6.50%, 8/1/30 | | | 2,288,000 | | | | 2,351,883 | |
eG Global Finance PLC,144A,12.00%, 11/30/28 (a) | | | 4,178,000 | | | | 4,562,075 | |
Ferrellgas LP / Ferrellgas Finance Corp. | | | | | | | | |
144A,5.375%, 4/1/26 | | | 2,466,000 | | | | 2,475,063 | |
144A,5.875%, 4/1/29 | | | 3,141,000 | | | | 2,947,423 | |
Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc. | | | | | | | | |
144A,4.625%, 1/15/29 | | | 3,804,000 | | | | 3,561,299 | |
144A,6.75%, 1/15/30 (a) | | | 4,759,000 | | | | 4,285,470 | |
FirstCash, Inc. | | | | | | | | |
144A,4.625%, 9/1/28 | | | 1,904,000 | | | | 1,825,828 | |
144A,5.625%, 1/1/30 | | | 2,094,000 | | | | 2,070,331 | |
144A,6.875%, 3/1/32 | | | 1,914,000 | | | | 1,968,670 | |
Gap, Inc. | | | | | | | | |
144A,3.625%, 10/1/29 | | | 2,815,000 | | | | 2,525,179 | |
144A,3.875%, 10/1/31 | | | 2,870,000 | | | | 2,481,922 | |
Group 1 Automotive, Inc. | | | | | | | | |
144A,4.00%, 8/15/28 | | | 2,800,000 | | | | 2,650,969 | |
144A,6.375%, 1/15/30 | | | 1,900,000 | | | | 1,937,645 | |
Kohl’s Corp.,4.625%, 5/1/31 | | | 1,927,000 | | | | 1,594,340 | |
Lithia Motors, Inc. | | | | | | | | |
144A,4.625%, 12/15/27 | | | 1,530,000 | | | | 1,495,247 | |
144A,3.875%, 6/1/29 | | | 3,046,000 | | | | 2,827,871 | |
144A,4.375%, 1/15/31 | | | 2,090,000 | | | | 1,927,787 | |
Macy’s Retail Holdings LLC | | | | | | | | |
144A,5.875%, 4/1/29 (a) | | | 1,897,000 | | | | 1,861,576 | |
144A,5.875%, 3/15/30 | | | 1,517,000 | | | | 1,472,445 | |
144A,6.125%, 3/15/32 | | | 1,664,000 | | | | 1,593,185 | |
Michaels Cos., Inc. | | | | | | | | |
144A,5.25%, 5/1/28 | | | 3,233,000 | | | | 2,541,811 | |
| | | | | | | | |
| | | Principal
Amount $ | | | Value $ | |
| | |
144A,7.875%, 5/1/29 | | | 4,321,000 | | | | 2,572,810 | |
Murphy Oil USA, Inc. | | | | | | | | |
4.75%, 9/15/29 | | | 1,906,000 | | | | 1,850,962 | |
144A,3.75%, 2/15/31 | | | 1,904,000 | | | | 1,724,429 | |
NMG Holding Co, Inc. / Neiman Marcus Group LLC,144A,7.125%, 4/1/26 | | | 4,174,000 | | | | 4,229,130 | |
Nordstrom, Inc. | | | | | | | | |
4.375%, 4/1/30 | | | 1,897,000 | | | | 1,749,075 | |
4.25%, 8/1/31 | | | 1,635,000 | | | | 1,458,460 | |
Penske Automotive Group, Inc. | | | | | | | | |
3.50%, 9/1/25 | | | 2,097,000 | | | | 2,065,966 | |
3.75%, 6/15/29 | | | 1,901,000 | | | | 1,770,937 | |
PetSmart, Inc. / PetSmart Finance Corp. | | | | | | | | |
144A,4.75%, 2/15/28 | | | 4,568,000 | | | | 4,374,531 | |
144A,7.75%, 2/15/29 | | | 4,378,000 | | | | 4,318,479 | |
QVC, Inc. | | | | | | | | |
4.75%, 2/15/27 | | | 2,094,000 | | | | 1,836,491 | |
4.375%, 9/1/28 | | | 1,974,000 | | | | 1,487,700 | |
Sonic Automotive, Inc. | | | | | | | | |
144A,4.625%, 11/15/29 | | | 2,475,000 | | | | 2,315,667 | |
144A,4.875%, 11/15/31 | | | 1,917,000 | | | | 1,756,890 | |
Staples, Inc. | | | | | | | | |
144A,10.75%, 4/15/27 | | | 40,000 | | | | 37,016 | |
144A,10.75%, 9/1/29 | | | 9,042,000 | | | | 8,528,006 | |
144A,12.75%, 1/15/30 | | | 17,946 | | | | 13,887 | |
Suburban Propane Partners LP/ Suburban Energy Finance Corp.,144A,5.00%, 6/1/31 | | | 2,475,000 | | | | 2,273,094 | |
Walgreens Boots Alliance, Inc. | | | | | | | | |
3.45%, 6/1/26 | | | 5,445,000 | | | | 5,185,626 | |
8.125%, 8/15/29 | | | 2,869,000 | | | | 2,876,516 | |
3.20%, 4/15/30 (a) | | | 1,904,000 | | | | 1,534,352 | |
Yum! Brands, Inc. | | | | | | | | |
144A,4.75%, 1/15/30 | | | 3,043,000 | | | | 2,995,167 | |
3.625%, 3/15/31 | | | 3,997,000 | | | | 3,671,612 | |
4.625%, 1/31/32 | | | 4,188,000 | | | | 3,973,252 | |
5.375%, 4/1/32 | | | 3,807,000 | | | | 3,776,690 | |
| | |
(Cost $169,601,111) | | | | | | | 162,039,576 | |
| | |
Consumer, Non-cyclical — 16.9% | | | | | | | | |
Agriculture — 0.3% | | | | | | | | |
Darling Ingredients, Inc. | | | | | | | | |
144A,5.25%, 4/15/27 | | | 1,917,000 | | | | 1,913,882 | |
144A,6.00%, 6/15/30 | | | 3,807,000 | | | | 3,858,298 | |
Vector Group Ltd. | | | | | | | | |
144A,10.50%, 11/1/26 | | | 1,849,000 | | | | 1,879,241 | |
144A,5.75%, 2/1/29 | | | 3,327,000 | | | | 3,375,668 | |
| | |
(Cost $11,023,504) | | | | | | | 11,027,089 | |
See Notes to Financial Statements.
72 | DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Beverages — 0.1% | | | | | | | | |
Primo Water Holdings, Inc.,144A,4.375%, 4/30/29 | | | | | | | | |
| | |
(Cost $2,828,041) | | | 2,855,000 | | | | 2,713,311 | |
| | |
Commercial Services — 4.5% | | | | | | | | |
ADT Security Corp., 144A,4.125%, 8/1/29 | | | 3,654,000 | | | | 3,473,507 | |
Albion Financing 1 SARL / Aggreko Holdings, Inc.,144A,6.125%, 10/15/26 | | | 2,151,000 | | | | 2,146,270 | |
Albion Financing 2 SARL, 144A,8.75%, 4/15/27 | | | 1,708,000 | | | | 1,747,766 | |
Allied Universal Holdco LLC, 144A,7.875%, 2/15/31 | | | 7,692,000 | | | | 7,816,138 | |
Allied Universal Holdco LLC / Allied Universal Finance Corp. | | | | | | | | |
144A,9.75%, 7/15/27 | | | 4,014,000 | | | | 4,030,899 | |
144A,6.00%, 6/1/29 (a) | | | 3,684,000 | | | | 3,282,171 | |
Allied Universal Holdco LLC / Allied Universal Finance Corp. / Atlas Luxco 4 SARL,144A,4.625%, 6/1/28 | | | 4,766,000 | | | | 4,425,414 | |
APX Group, Inc. | | | | | | | | |
144A,6.75%, 2/15/27 | | | 2,278,000 | | | | 2,284,811 | |
144A,5.75%, 7/15/29 | | | 3,102,000 | | | | 3,076,346 | |
Avis Budget Car Rental LLC / Avis Budget Finance, Inc. | | | | | | | | |
144A,5.75%, 7/15/27 | | | 1,511,000 | | | | 1,481,269 | |
144A,4.75%, 4/1/28 (a) | | | 1,934,000 | | | | 1,795,370 | |
144A,5.375%, 3/1/29 (a) | | | 2,313,000 | | | | 2,121,367 | |
144A,8.00%, 2/15/31 (a) | | | 1,831,000 | | | | 1,822,240 | |
Block, Inc. | | | | | | | | |
2.75%, 6/1/26 | | | 3,804,000 | | | | 3,657,005 | |
3.50%, 6/1/31 | | | 3,754,000 | | | | 3,391,865 | |
144A,6.50%, 5/15/32 | | | 7,708,000 | | | | 8,002,931 | |
Brink’s Co. | | | | | | | | |
144A,4.625%, 10/15/27 | | | 2,284,000 | | | | 2,238,465 | |
144A,6.50%, 6/15/29 | | | 1,530,000 | | | | 1,584,567 | |
144A,6.75%, 6/15/32 | | | 1,521,000 | | | | 1,583,397 | |
Garda World Security Corp. | | | | | | | | |
144A,4.625%, 2/15/27 | | | 2,183,000 | | | | 2,130,646 | |
144A,9.50%, 11/1/27 | | | 2,301,000 | | | | 2,323,842 | |
144A,7.75%, 2/15/28 | | | 1,500,000 | | | | 1,574,665 | |
144A,6.00%, 6/1/29 | | | 1,902,000 | | | | 1,801,099 | |
144A,8.25%, 8/1/32 | | | 2,104,000 | | | | 2,140,119 | |
Herc Holdings, Inc. | | | | | | | | |
144A,5.50%, 7/15/27 | | | 4,470,000 | | | | 4,441,248 | |
144A,6.625%, 6/15/29 | | | 3,039,000 | | | | 3,127,742 | |
Hertz Corp. | | | | | | | | |
144A,4.625%, 12/1/26 (a) | | | 1,904,000 | | | | 1,496,450 | |
144A,12.625%, 7/15/29 (a) | | | 2,860,000 | | | | 3,048,874 | |
144A,5.00%, 12/1/29 (a) | | | 3,807,000 | | | | 2,572,819 | |
| | | | | | | | |
| | | Principal
Amount $ | | | Value $ | |
| | |
Prime Security Services Borrower LLC / Prime Finance, Inc. | | | | | | | | |
144A,5.75%, 4/15/26 | | | 5,199,000 | | | | 5,214,332 | |
144A,3.375%, 8/31/27 | | | 3,854,000 | | | | 3,652,842 | |
144A,6.25%, 1/15/28 | | | 5,115,500 | | | | 5,100,627 | |
RR Donnelley & Sons Co. | | | | | | | | |
144A,9.50%, 8/1/29 | | | 4,001,000 | | | | 3,967,244 | |
144A,10.875%, 8/1/29 | | | 1,759,000 | | | | 1,723,042 | |
Service Corp. International | | | | | | | | |
4.625%, 12/15/27 | | | 2,091,000 | | | | 2,053,773 | |
5.125%, 6/1/29 | | | 2,826,000 | | | | 2,799,728 | |
3.375%, 8/15/30 | | | 3,233,000 | | | | 2,904,181 | |
4.00%, 5/15/31 | | | 3,064,000 | | | | 2,814,329 | |
Shift4 Payments LLC / Shift4 Payments Finance Sub, Inc.,144A,6.75%, 8/15/32 | | | 4,200,000 | | | | 4,335,784 | |
Sotheby’s,144A,7.375%, 10/15/27 | | | 2,912,000 | | | | 2,795,365 | |
United Rentals North America, Inc. | | | | | | | | |
5.50%, 5/15/27 | | | 1,914,000 | | | | 1,921,478 | |
3.875%, 11/15/27 | | | 2,855,000 | | | | 2,758,136 | |
4.875%, 1/15/28 | | | 6,375,000 | | | | 6,293,211 | |
5.25%, 1/15/30 | | | 2,796,000 | | | | 2,775,815 | |
4.00%, 7/15/30 | | | 2,855,000 | | | | 2,672,555 | |
3.875%, 2/15/31 | | | 4,188,000 | | | | 3,869,675 | |
3.75%, 1/15/32 | | | 2,855,000 | | | | 2,578,988 | |
144A,6.125%, 3/15/34 | | | 4,198,000 | | | | 4,293,416 | |
Wand NewCo 3, Inc.,144A,7.625%, 1/30/32 | | | 4,743,000 | | | | 4,973,059 | |
Williams Scotsman, Inc. | | | | | | | | |
144A,4.625%, 8/15/28 | | | 1,904,000 | | | | 1,843,009 | |
144A,6.625%, 6/15/29 | | | 1,912,000 | | | | 1,975,853 | |
144A,7.375%, 10/1/31 | | | 1,914,000 | | | | 2,013,040 | |
| | |
(Cost $164,920,743) | | | | | | | 159,948,784 | |
| | |
Cosmetics/Personal Care — 0.5% | | | | | | | | |
Coty, Inc.,144A,5.00%, 4/15/26 | | | 2,389,000 | | | | 2,383,706 | |
Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International US LLC,144A,6.625%, 7/15/30 | | | 2,855,000 | | | | 2,959,701 | |
Edgewell Personal Care Co. | | | | | | | | |
144A,5.50%, 6/1/28 | | | 2,843,000 | | | | 2,822,889 | |
144A,4.125%, 4/1/29 | | | 1,914,000 | | | | 1,815,810 | |
Perrigo Finance Unlimited Co. | | | | | | | | |
4.375%, 3/15/26 | | | 2,676,000 | | | | 2,638,408 | |
4.90%, 6/15/30 | | | 2,852,000 | | | | 2,758,807 | |
Prestige Brands, Inc. | | | | | | | | |
144A,5.125%, 1/15/28 | | | 1,529,000 | | | | 1,508,156 | |
144A,3.75%, 4/1/31 | | | 2,284,000 | | | | 2,071,977 | |
| | |
(Cost $19,429,828) | | | | | | | 18,959,454 | |
See Notes to Financial Statements.
DBX ETF Trust | 73
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal
Amount $ | | | Value $ | |
| | |
Food — 2.4% | | | | | | | | |
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC | | | | | | | | |
144A,3.25%, 3/15/26 | | | 2,860,000 | | | | 2,765,154 | |
144A,7.50%, 3/15/26 | | | 2,244,000 | | | | 2,275,858 | |
144A,4.625%, 1/15/27 | | | 5,133,000 | | | | 5,020,334 | |
144A,5.875%, 2/15/28 | | | 2,852,000 | | | | 2,847,879 | |
144A,6.50%, 2/15/28 (a) | | | 2,876,000 | | | | 2,916,181 | |
144A,3.50%, 3/15/29 | | | 5,271,000 | | | | 4,900,785 | |
144A,4.875%, 2/15/30 | | | 3,804,000 | | | | 3,731,601 | |
B&G Foods, Inc. | | | | | | | | |
5.25%, 9/15/27 (a) | | | 2,109,000 | | | | 1,997,182 | |
144A,8.00%, 9/15/28 | | | 3,043,000 | | | | 3,167,419 | |
Lamb Weston Holdings, Inc. | | | | | | | | |
144A,4.875%, 5/15/28 | | | 1,904,000 | | | | 1,875,643 | |
144A,4.125%, 1/31/30 | | | 3,693,000 | | | | 3,439,880 | |
144A,4.375%, 1/31/32 | | | 2,665,000 | | | | 2,456,534 | |
Performance Food Group, Inc. | | | | | | | | |
144A,5.50%, 10/15/27 | | | 4,052,000 | | | | 4,034,664 | |
144A,4.25%, 8/1/29 | | | 3,794,000 | | | | 3,584,703 | |
Pilgrim’s Pride Corp. | | | | | | | | |
3.50%, 3/1/32 | | | 3,386,000 | | | | 2,996,789 | |
6.25%, 7/1/33 | | | 3,737,000 | | | | 3,955,715 | |
6.875%, 5/15/34 | | | 1,884,000 | | | | 2,084,953 | |
Post Holdings, Inc. | | | | | | | | |
144A,5.625%, 1/15/28 | | | 1,542,000 | | | | 1,539,703 | |
144A,5.50%, 12/15/29 | | | 4,683,000 | | | | 4,612,893 | |
144A,4.625%, 4/15/30 | | | 5,436,000 | | | | 5,169,985 | |
144A,4.50%, 9/15/31 | | | 3,821,000 | | | | 3,557,918 | |
144A,6.25%, 2/15/32 | | | 3,813,000 | | | | 3,915,040 | |
144A,6.375%, 3/1/33 | | | 4,400,000 | | | | 4,443,120 | |
US Foods, Inc. | | | | | | | | |
144A,6.875%, 9/15/28 | | | 1,912,000 | | | | 1,991,304 | |
144A,4.75%, 2/15/29 | | | 3,444,000 | | | | 3,362,054 | |
144A,4.625%, 6/1/30 | | | 1,908,000 | | | | 1,827,506 | |
144A,7.25%, 1/15/32 | | | 1,914,000 | | | | 2,022,740 | |
| | |
(Cost $88,263,695) | | | | | | | 86,493,537 | |
| | |
Healthcare-Products — 1.5% | | | | | | | | |
Avantor Funding, Inc. | | | | | | | | |
144A,4.625%, 7/15/28 | | | 5,881,000 | | | | 5,729,206 | |
144A,3.875%, 11/1/29 | | | 3,046,000 | | | | 2,855,524 | |
Bausch + Lomb Corp.,144A,8.375%, 10/1/28 | | | 5,226,000 | | | | 5,494,957 | |
Hologic, Inc. | | | | | | | | |
144A,4.625%, 2/1/28 | | | 1,525,000 | | | | 1,490,757 | |
144A,3.25%, 2/15/29 | | | 3,632,000 | | | | 3,357,333 | |
Medline Borrower LP | | | | | | | | |
144A,3.875%, 4/1/29 | | | 17,132,000 | | | | 16,196,134 | |
144A,5.25%, 10/1/29 | | | 9,518,000 | | | | 9,355,258 | |
| | | | | | | | |
| | | Principal
Amount $ | | | Value $ | |
Medline Borrower LP/Medline Co.-Issuer, Inc., 144A,6.25%, 4/1/29 | | | 5,719,000 | | | | 5,902,437 | |
Teleflex, Inc. | | | | | | | | |
4.625%, 11/15/27 | | | 1,904,000 | | | | 1,869,333 | |
144A,4.25%, 6/1/28 | | | 1,906,000 | | | | 1,833,548 | |
| | |
(Cost $38,996,357) | | | | | | | 54,084,487 | |
| | |
Healthcare-Services — 5.0% | | | | | | | | |
Catalent Pharma Solutions, Inc. | | | | | | | | |
144A,5.00%, 7/15/27 | | | 2,162,000 | | | | 2,152,240 | |
144A,3.125%, 2/15/29 | | | 1,993,000 | | | | 1,945,553 | |
144A,3.50%, 4/1/30 | | | 2,205,000 | | | | 2,154,746 | |
Charles River Laboratories International, Inc. | | | | | | | | |
144A,4.25%, 5/1/28 | | | 1,902,000 | | | | 1,839,193 | |
144A,3.75%, 3/15/29 | | | 1,901,000 | | | | 1,782,701 | |
144A,4.00%, 3/15/31 | | | 1,904,000 | | | | 1,753,794 | |
CHS/Community Health Systems, Inc. | | | | | | | | |
144A,5.625%, 3/15/27 | | | 7,233,000 | | | | 7,006,404 | |
144A,8.00%, 12/15/27 | | | 2,651,000 | | | | 2,658,121 | |
144A,6.875%, 4/1/28 | | | 2,245,000 | | | | 1,773,829 | |
144A,6.00%, 1/15/29 | | | 2,448,000 | | | | 2,327,928 | |
144A,6.875%, 4/15/29 (a) | | | 4,745,000 | | | | 4,088,129 | |
144A,6.125%, 4/1/30 | | | 4,779,000 | | | | 3,788,623 | |
144A,5.25%, 5/15/30 | | | 5,843,000 | | | | 5,243,242 | |
144A,4.75%, 2/15/31 | | | 4,093,000 | | | | 3,495,403 | |
144A,10.875%, 1/15/32 | | | 8,455,000 | | | | 9,163,284 | |
Concentra Escrow Issuer Corp.,144A,6.875%, 7/15/32 | | | 2,475,000 | | | | 2,592,171 | |
DaVita, Inc. | | | | | | | | |
144A,4.625%, 6/1/30 | | | 10,618,000 | | | | 10,018,660 | |
144A,3.75%, 2/15/31 | | | 5,752,000 | | | | 5,123,774 | |
144A,6.875%, 9/1/32 | | | 3,625,000 | | | | 3,710,906 | |
Encompass Health Corp. | | | | | | | | |
4.50%, 2/1/28 | | | 3,046,000 | | | | 2,980,356 | |
4.75%, 2/1/30 | | | 3,046,000 | | | | 2,955,369 | |
4.625%, 4/1/31 | | | 1,534,000 | | | | 1,453,833 | |
IQVIA, Inc. | | | | | | | | |
144A,5.00%, 10/15/26 | | | 3,992,000 | | | | 3,969,506 | |
144A,5.00%, 5/15/27 | | | 4,468,000 | | | | 4,439,292 | |
144A,6.50%, 5/15/30 | | | 1,901,000 | | | | 1,977,631 | |
Legacy LifePoint Health LLC,144A,4.375%, 2/15/27 | | | 2,247,000 | | | | 2,194,311 | |
LifePoint Health, Inc. | | | | | | | | |
144A,5.375%, 1/15/29 (a) | | | 1,954,000 | | | | 1,825,912 | |
144A,9.875%, 8/15/30 | | | 3,046,000 | | | | 3,344,298 | |
144A,11.00%, 10/15/30 | | | 4,164,000 | | | | 4,698,016 | |
144A,10.00%, 6/1/32 | | | 3,036,000 | | | | 3,298,836 | |
Molina Healthcare, Inc. | | | | | | | | |
144A,4.375%, 6/15/28 | | | 3,039,000 | | | | 2,926,366 | |
144A,3.875%, 11/15/30 | | | 2,475,000 | | | | 2,277,661 | |
See Notes to Financial Statements.
74 | DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal
Amount $ | | | Value $ | |
| | |
144A,3.875%, 5/15/32 | | | 2,855,000 | | | | 2,564,030 | |
MPH Acquisition Holdings LLC | | | | | | | | |
144A,5.50%, 9/1/28 | | | 3,988,000 | | | | 2,943,749 | |
144A,5.75%, 11/1/28 (a) | | | 3,760,000 | | | | 1,672,414 | |
Radiology Partners, Inc.,144A,4.275% Cash 3.50% PIK, PIK, 1/31/29 (a) | | | 2,680,124 | | | | 2,579,619 | |
Select Medical Corp.,144A,6.25%, 8/15/26 | | | 4,664,000 | | | | 4,690,384 | |
Star Parent, Inc.,144A,9.00%, 10/1/30 | | | 3,807,000 | | | | 4,068,835 | |
Tenet Healthcare Corp. | | | | | | | | |
6.25%, 2/1/27 | | | 5,555,000 | | | | 5,570,632 | |
5.125%, 11/1/27 | | | 5,697,000 | | | | 5,651,869 | |
4.625%, 6/15/28 | | | 2,661,000 | | | | 2,602,344 | |
6.125%, 10/1/28 | | | 9,336,000 | | | | 9,361,814 | |
4.25%, 6/1/29 | | | 5,236,000 | | | | 5,029,607 | |
4.375%, 1/15/30 | | | 5,452,000 | | | | 5,217,371 | |
6.125%, 6/15/30 | | | 7,629,000 | | | | 7,754,436 | |
6.75%, 5/15/31 | | | 5,165,000 | | | | 5,359,932 | |
US Acute Care Solutions LLC,144A,9.75%, 5/15/29 | | | 3,046,000 | | | | 3,119,890 | |
| | |
(Cost $186,683,356) | | | | | | | 179,147,014 | |
| | |
Household Products/Wares — 0.1% | | | | | | | | |
Central Garden & Pet Co. | | | | | | | | |
4.125%, 10/15/30 (a) | | | 1,904,000 | | | | 1,751,272 | |
144A,4.125%, 4/30/31 | | | 1,523,000 | | | | 1,381,476 | |
| | |
(Cost $3,367,490) | | | | | | | 3,132,748 | |
| | |
Pharmaceuticals — 2.5% | | | | | | | | |
AdaptHealth LLC | | | | | | | | |
144A,4.625%, 8/1/29 | | | 1,899,000 | | | | 1,734,728 | |
144A,5.125%, 3/1/30 (a) | | | 2,279,000 | | | | 2,085,476 | |
Bausch Health Americas, Inc. | | | | | | | | |
144A,9.25%, 4/1/26 | | | 2,214,000 | | | | 2,006,892 | |
144A,8.50%, 1/31/27 | | | 2,443,000 | | | | 1,820,230 | |
Bausch Health Cos., Inc. | | | | | | | | |
144A,5.50%, 11/1/25 | | | 6,244,000 | | | | 6,017,655 | |
144A,9.00%, 12/15/25 | | | 2,074,000 | | | | 1,922,677 | |
144A,6.125%, 2/1/27 | | | 3,802,000 | | | | 3,250,330 | |
144A,5.75%, 8/15/27 | | | 1,914,000 | | | | 1,552,426 | |
144A,5.00%, 1/30/28 | | | 1,692,000 | | | | 960,328 | |
144A,4.875%, 6/1/28 | | | 6,071,000 | | | | 4,542,110 | |
144A,11.00%, 9/30/28 | | | 6,753,000 | | | | 6,195,878 | |
144A,5.00%, 2/15/29 | | | 1,651,000 | | | | 860,394 | |
144A,6.25%, 2/15/29 (a) | | | 3,151,000 | | | | 1,673,969 | |
144A,5.25%, 1/30/30 | | | 3,001,000 | | | | 1,504,341 | |
144A,5.25%, 2/15/31 | | | 1,781,000 | | | | 899,414 | |
Cheplapharm Arzneimittel GmbH,144A,5.50%, 1/15/28 | | | 1,897,000 | | | | 1,823,694 | |
Grifols SA,144A,4.75%, 10/15/28 (a) | | | 2,684,000 | | | | 2,551,952 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
HLF Financing Sarl LLC / Herbalife International, Inc,144A,12.25%, 4/15/29 | | | 3,059,000 | | | | 3,061,609 | |
HLF Financing Sarl LLC / Herbalife International, Inc.,144A,4.875%, 6/1/29 | | | 2,284,000 | | | | 1,444,618 | |
Jazz Securities
DAC,144A,4.375%, 1/15/29 | | | 5,692,000 | | | | 5,421,861 | |
Organon & Co. / Organon Foreign Debt Co.-Issuer BV | | | | | | | | |
144A,4.125%, 4/30/28 | | | 7,984,000 | | | | 7,638,639 | |
144A,5.125%, 4/30/31 | | | 7,754,000 | | | | 7,268,667 | |
144A,6.75%, 5/15/34 | | | 1,902,000 | | | | 1,973,485 | |
144A,7.875%, 5/15/34 | | | 1,827,000 | | | | 1,927,355 | |
Owens & Minor, Inc. | | | | | | | | |
144A,4.50%, 3/31/29 (a) | | | 1,835,000 | | | | 1,671,646 | |
144A,6.625%, 4/1/30 (a) | | | 2,117,000 | | | | 2,050,638 | |
Teva Pharmaceutical Finance Netherlands III BV | | | | | | | | |
3.15%, 10/1/26 | | | 12,859,000 | | | | 12,323,812 | |
6.75%, 3/1/28 | | | 4,762,000 | | | | 4,963,004 | |
| | |
(Cost $102,814,598) | | | | | | | 91,147,828 | |
| | |
Diversified — 0.1% | | | | | | | | |
Holding Companies-Diversified — 0.1% | | | | | | | | |
Benteler International AG,144A,10.50%, 5/15/28 | | | | | | | | |
| | |
(Cost $2,015,795) | | | 1,917,000 | | | | 2,043,326 | |
| | |
Energy — 12.6% | | | | | | | | |
Energy-Alternate Sources — 0.2% | | | | | | | | |
Sunnova Energy Corp.,144A,11.75%, 10/1/28 (a) | | | 1,525,000 | | | | 1,417,320 | |
TerraForm Power Operating LLC | | | | | | | | |
144A,5.00%, 1/31/28 | | | 2,665,000 | | | | 2,616,852 | |
144A,4.75%, 1/15/30 | | | 2,665,000 | | | | 2,518,765 | |
| | |
(Cost $6,327,223) | | | | | | | 6,552,937 | |
| | |
Oil & Gas — 5.9% | | | | | | | | |
Antero Resources Corp. | | | | | | | | |
144A,7.625%, 2/1/29 | | | 1,452,000 | | | | 1,506,486 | |
144A,5.375%, 3/1/30 | | | 2,331,000 | | | | 2,304,214 | |
Ascent Resources Utica Holdings LLC / ARU Finance Corp. | | | | | | | | |
144A,7.00%, 11/1/26 | | | 2,301,000 | | | | 2,310,107 | |
144A,8.25%, 12/31/28 | | | 1,955,000 | | | | 2,010,274 | |
144A,5.875%, 6/30/29 | | | 1,519,000 | | | | 1,519,785 | |
Baytex Energy Corp. | | | | | | | | |
144A,8.50%, 4/30/30 | | | 3,192,000 | | | | 3,404,405 | |
144A,7.375%, 3/15/32 | | | 2,182,000 | | | | 2,261,621 | |
California Resources Corp.,144A,8.25%, 6/15/29 | | | 3,410,000 | | | | 3,520,065 | |
See Notes to Financial Statements.
DBX ETF Trust | 75
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal
Amount $ | | | Value $ | |
| | |
Chesapeake Energy Corp. | | | | | | | | |
144A,5.50%, 2/1/26 | | | 1,981,000 | | | | 1,983,392 | |
144A,5.875%, 2/1/29 | | | 1,919,000 | | | | 1,924,744 | |
144A,6.75%, 4/15/29 | | | 3,614,000 | | | | 3,670,263 | |
Civitas Resources, Inc. | | | | | | | | |
144A,5.00%, 10/15/26 | | | 1,532,000 | | | | 1,511,634 | |
144A,8.375%, 7/1/28 | | | 5,172,000 | | | | 5,459,118 | |
144A,8.625%, 11/1/30 | | | 3,743,000 | | | | 4,071,460 | |
144A,8.75%, 7/1/31 | | | 5,163,000 | | | | 5,578,245 | |
CNX Resources Corp. | | | | | | | | |
144A,6.00%, 1/15/29 | | | 1,884,000 | | | | 1,894,081 | |
144A,7.375%, 1/15/31 | | | 1,902,000 | | | | 1,988,935 | |
144A,7.25%, 3/1/32 | | | 1,542,000 | | | | 1,615,648 | |
Comstock Resources, Inc. | | | | | | | | |
144A,6.75%, 3/1/29 | | | 4,599,000 | | | | 4,527,485 | |
144A,6.75%, 3/1/29 | | | 1,521,000 | | | | 1,494,999 | |
144A,5.875%, 1/15/30 | | | 3,674,000 | | | | 3,475,979 | |
Crescent Energy Finance LLC | | | | | | | | |
144A,9.25%, 2/15/28 | | | 3,799,000 | | | | 4,030,674 | |
144A,7.625%, 4/1/32 | | | 2,665,000 | | | | 2,750,331 | |
144A,7.375%, 1/15/33 | | | 2,846,000 | | | | 2,921,465 | |
CVR Energy, Inc. | | | | | | | | |
144A,5.75%, 2/15/28 | | | 1,532,000 | | | | 1,452,294 | |
144A,8.50%, 1/15/29 | | | 2,284,000 | | | | 2,329,040 | |
Encino Acquisition Partners Holdings LLC | | | | | | | | |
144A,8.50%, 5/1/28 | | | 2,656,000 | | | | 2,746,644 | |
144A,8.75%, 5/1/31 | | | 1,901,000 | | | | 2,020,858 | |
Energean PLC,144A,6.50%, 4/30/27 | | | 1,712,000 | | | | 1,692,363 | |
Kosmos Energy Ltd. | | | | | | | | |
144A,7.125%, 4/4/26 | | | 2,466,000 | | | | 2,458,118 | |
144A,7.75%, 5/1/27 | | | 1,464,000 | | | | 1,448,837 | |
144A,7.50%, 3/1/28 | | | 1,711,000 | | | | 1,668,623 | |
Leviathan Bond Ltd. | | | | | | | | |
144A,REGS, 6.50%, 6/30/27 | | | 2,270,815 | | | | 2,180,342 | |
144A,REGS, 6.75%, 6/30/30 | | | 2,107,059 | | | | 1,951,632 | |
Matador Resources Co. | | | | | | | | |
144A,6.875%, 4/15/28 | | | 1,904,000 | | | | 1,954,669 | |
144A,6.50%, 4/15/32 | | | 3,426,000 | | | | 3,479,668 | |
Medco Maple Tree Pte Ltd.,144A,8.96%, 4/27/29 | | | 1,862,000 | | | | 1,967,972 | |
Murphy Oil Corp.,5.875%, 12/1/27 | | | 1,585,000 | | | | 1,593,110 | |
Nabors Industries, Inc. | | | | | | | | |
144A,7.375%, 5/15/27 | | | 2,779,000 | | | | 2,813,485 | |
144A,9.125%, 1/31/30 | | | 2,469,000 | | | | 2,647,783 | |
144A,8.875%, 8/15/31 (a) | | | 2,129,000 | | | | 2,134,936 | |
Noble Finance II LLC,144A,8.00%, 4/15/30 | | | 5,350,000 | | | | 5,551,710 | |
Northern Oil & Gas, Inc. | | | | | | | | |
144A,8.125%, 3/1/28 | | | 2,680,000 | | | | 2,742,321 | |
144A,8.75%, 6/15/31 | | | 1,917,000 | | | | 2,049,988 | |
| | | | | | | | |
| | | Principal
Amount $ | | | Value $ | |
| | |
Parkland Corp. | | | | | | | | |
144A,5.875%, 7/15/27 | | | 1,937,000 | | | | 1,938,937 | |
144A,4.50%, 10/1/29 | | | 3,088,000 | | | | 2,917,202 | |
144A,4.625%, 5/1/30 | | | 2,983,000 | | | | 2,792,158 | |
144A,6.625%, 8/15/32 | | | 1,800,000 | | | | 1,820,168 | |
PBF Holding Co. LLC / PBF Finance Corp. | | | | | | | | |
6.00%, 2/15/28 | | | 3,147,000 | | | | 3,118,537 | |
144A,7.875%, 9/15/30 | | | 1,917,000 | | | | 1,994,989 | |
Permian Resources Operating LLC | | | | | | | | |
144A,8.00%, 4/15/27 | | | 2,099,000 | | | | 2,169,180 | |
144A,5.875%, 7/1/29 | | | 2,736,000 | | | | 2,738,569 | |
144A,9.875%, 7/15/31 | | | 1,901,000 | | | | 2,134,899 | |
144A,7.00%, 1/15/32 | | | 3,804,000 | | | | 3,993,652 | |
144A,6.25%, 2/1/33 | | | 3,800,000 | | | | 3,898,910 | |
Puma International Financing SA,144A,7.75%, 4/25/29 | | | 1,914,000 | | | | 1,962,070 | |
Range Resources Corp. | | | | | | | | |
8.25%, 1/15/29 | | | 2,313,000 | | | | 2,398,759 | |
144A,4.75%, 2/15/30 | | | 1,885,000 | | | | 1,810,437 | |
SM Energy Co. | | | | | | | | |
6.75%, 9/15/26 | | | 1,598,000 | | | | 1,600,728 | |
6.625%, 1/15/27 | | | 1,605,000 | | | | 1,613,123 | |
6.50%, 7/15/28 | | | 1,532,000 | | | | 1,541,768 | |
144A,6.75%, 8/1/29 | | | 2,846,000 | | | | 2,892,748 | |
144A,7.00%, 8/1/32 | | | 2,891,000 | | | | 2,963,769 | |
Southwestern Energy Co. | | | | | | | | |
5.375%, 2/1/29 | | | 2,719,000 | | | | 2,686,085 | |
5.375%, 3/15/30 | | | 4,645,000 | | | | 4,607,476 | |
4.75%, 2/1/32 | | | 4,292,000 | | | | 4,070,563 | |
Sunoco LP | | | | | | | | |
144A,7.00%, 5/1/29 | | | 2,903,000 | | | | 3,026,253 | |
144A,7.25%, 5/1/32 | | | 2,902,000 | | | | 3,071,358 | |
Sunoco LP / Sunoco Finance Corp. | | | | | | | | |
6.00%, 4/15/27 | | | 2,313,000 | | | | 2,320,758 | |
144A,7.00%, 9/15/28 | | | 1,917,000 | | | | 2,001,302 | |
4.50%, 5/15/29 | | | 3,083,000 | | | | 2,962,565 | |
4.50%, 4/30/30 | | | 3,074,000 | | | | 2,923,053 | |
Talos Production, Inc. | | | | | | | | |
144A,9.00%, 2/1/29 | | | 2,383,000 | | | | 2,533,596 | |
144A,9.375%, 2/1/31 | | | 2,379,000 | | | | 2,542,485 | |
TGNR Intermediate Holdings LLC,144A,5.50%, 10/15/29 | | | 2,656,000 | | | | 2,579,981 | |
Transocean, Inc. | | | | | | | | |
144A,8.00%, 2/1/27 | | | 2,494,000 | | | | 2,495,302 | |
144A,8.25%, 5/15/29 | | | 3,405,000 | | | | 3,452,824 | |
144A,8.50%, 5/15/31 | | | 3,426,000 | | | | 3,479,199 | |
Valaris Ltd.,144A,8.375%, 4/30/30 | | | 4,184,000 | | | | 4,368,510 | |
See Notes to Financial Statements.
76 | DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal
Amount $ | | | Value $ | |
| | |
Vital Energy, Inc.,144A,7.875%, 4/15/32 | | | 3,813,000 | | | | 3,906,627 | |
| | |
(Cost $213,811,495) | | | | | | | 213,948,343 | |
| | |
Oil & Gas Services — 0.6% | | | | | | | | |
Archrock Partners LP / Archrock Partners Finance Corp. | | | | | | | | |
144A,6.875%, 4/1/27 | | | 1,883,000 | | | | 1,898,016 | |
144A,6.25%, 4/1/28 | | | 3,216,000 | | | | 3,232,218 | |
144A,6.625%, 9/1/32 | | | 2,587,000 | | | | 2,620,884 | |
USA Compression Partners LP / USA Compression Finance Corp. | | | | | | | | |
6.875%, 9/1/27 | | | 2,846,000 | | | | 2,873,888 | |
144A,7.125%, 3/15/29 | | | 3,914,000 | | | | 4,023,643 | |
Viridien,144A,8.75%, 4/1/27 (a) | | | 1,801,000 | | | | 1,729,595 | |
Weatherford International Ltd.,144A,8.625%, 4/30/30 | | | 6,091,000 | | | | 6,326,703 | |
| | |
(Cost $22,775,776) | | | | | | | 22,704,947 | |
| | |
Pipelines — 5.9% | | | | | | | | |
Antero Midstream Partners LP / Antero Midstream Finance Corp. | | | | | | | | |
144A,5.75%, 3/1/27 | | | 2,505,000 | | | | 2,503,897 | |
144A,5.75%, 1/15/28 | | | 2,505,000 | | | | 2,507,645 | |
144A,5.375%, 6/15/29 | | | 2,836,000 | | | | 2,803,822 | |
144A,6.625%, 2/1/32 | | | 2,308,000 | | | | 2,380,065 | |
Blue Racer Midstream LLC / Blue Racer Finance Corp. | | | | | | | | |
144A,7.00%, 7/15/29 | | | 1,800,000 | | | | 1,873,415 | |
144A,7.25%, 7/15/32 | | | 1,980,000 | | | | 2,078,065 | |
Buckeye Partners LP | | | | | | | | |
3.95%, 12/1/26 | | | 2,297,000 | | | | 2,233,491 | |
4.125%, 12/1/27 | | | 1,532,000 | | | | 1,470,715 | |
144A,4.50%, 3/1/28 | | | 1,904,000 | | | | 1,826,737 | |
144A,6.875%, 7/1/29 | | | 2,290,000 | | | | 2,344,033 | |
CQP Holdco LP / BIP-V Chinook Holdco LLC | | | | | | | | |
144A,5.50%, 6/15/31 | | | 5,330,000 | | | | 5,228,627 | |
144A,7.50%, 12/15/33 | | | 1,905,000 | | | | 2,059,440 | |
Delek Logistics Partners LP / Delek Logistics Finance Corp.,144A,8.625%, 3/15/29 | | | 3,972,000 | | | | 4,179,565 | |
DT Midstream, Inc. | | | | | | | | |
144A,4.125%, 6/15/29 | | | 4,188,000 | | | | 3,982,117 | |
144A,4.375%, 6/15/31 | | | 3,807,000 | | | | 3,579,934 | |
EQM Midstream Partners LP | | | | | | | | |
4.125%, 12/1/26 | | | 1,919,000 | | | | 1,886,535 | |
144A,7.50%, 6/1/27 | | | 1,902,000 | | | | 1,961,691 | |
144A,6.50%, 7/1/27 | | | 3,451,000 | | | | 3,539,404 | |
5.50%, 7/15/28 | | | 3,232,000 | | | | 3,256,172 | |
144A,4.50%, 1/15/29 | | | 3,041,000 | | | | 2,949,680 | |
144A,6.375%, 4/1/29 | | | 2,313,000 | | | | 2,379,735 | |
144A,7.50%, 6/1/30 | | | 1,864,000 | | | | 2,035,564 | |
| | | | | | | | |
| | | Principal
Amount $ | | | Value $ | |
| | |
144A,4.75%, 1/15/31 | | | 4,252,000 | | | | 4,088,282 | |
Genesis Energy LP / Genesis Energy Finance Corp. | | | | | | | | |
8.00%, 1/15/27 | | | 3,741,000 | | | | 3,833,216 | |
7.75%, 2/1/28 | | | 2,497,000 | | | | 2,543,187 | |
8.25%, 1/15/29 | | | 2,277,000 | | | | 2,367,846 | |
8.875%, 4/15/30 | | | 1,904,000 | | | | 2,022,431 | |
7.875%, 5/15/32 | | | 2,665,000 | | | | 2,736,505 | |
Global Partners LP / GLP Finance Corp. | | | | | | | | |
7.00%, 8/1/27 | | | 1,522,000 | | | | 1,537,599 | |
144A,8.25%, 1/15/32 | | | 1,713,000 | | | | 1,782,275 | |
Harvest Midstream I LP | | | | | | | | |
144A,7.50%, 9/1/28 | | | 3,098,000 | | | | 3,179,583 | |
144A,7.50%, 5/15/32 | | | 1,882,000 | | | | 1,979,779 | |
Hess Midstream Operations LP | | | | | | | | |
144A,5.625%, 2/15/26 | | | 2,832,000 | | | | 2,826,464 | |
144A,5.125%, 6/15/28 | | | 2,094,000 | | | | 2,071,380 | |
144A,6.50%, 6/1/29 | | | 2,284,000 | | | | 2,358,525 | |
144A,4.25%, 2/15/30 | | | 2,855,000 | | | | 2,700,246 | |
144A,5.50%, 10/15/30 | | | 1,538,000 | | | | 1,524,668 | |
Howard Midstream Energy Partners LLC | | | | | | | | |
144A,8.875%, 7/15/28 | | | 2,106,000 | | | | 2,246,832 | |
144A,7.375%, 7/15/32 | | | 2,284,000 | | | | 2,366,274 | |
ITT Holdings LLC,144A,6.50%, 8/1/29 | | | 4,639,000 | | | | 4,378,060 | |
New Fortress Energy, Inc. | | | | | | | | |
144A,6.75%, 9/15/25 | | | 3,539,000 | | | | 3,453,243 | |
144A,6.50%, 9/30/26 (a) | | | 5,711,000 | | | | 4,948,275 | |
144A,8.75%, 3/15/29 (a) | | | 2,846,000 | | | | 2,387,521 | |
NGL Energy Operating LLC / NGL Energy Finance Corp. | | | | | | | | |
144A,8.125%, 2/15/29 | | | 3,426,000 | | | | 3,506,590 | |
144A,8.375%, 2/15/32 | | | 4,949,000 | | | | 5,097,727 | |
Northriver Midstream Finance LP,144A,6.75%, 7/15/32 | | | 1,999,000 | | | | 2,065,243 | |
NuStar Logistics LP | | | | | | | | |
5.75%, 10/1/25 | | | 2,313,000 | | | | 2,315,802 | |
6.00%, 6/1/26 | | | 1,902,000 | | | | 1,921,227 | |
5.625%, 4/28/27 | | | 2,095,000 | | | | 2,102,150 | |
6.375%, 10/1/30 | | | 2,170,000 | | | | 2,268,425 | |
Rockies Express Pipeline LLC,144A,4.95%, 7/15/29 | | | 2,109,000 | | | | 2,017,442 | |
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp. | | | | | | | | |
144A,6.00%, 3/1/27 | | | 1,643,000 | | | | 1,639,641 | |
144A,5.50%, 1/15/28 | | | 3,035,000 | | | | 2,930,520 | |
144A,7.375%, 2/15/29 | | | 3,064,000 | | | | 3,134,389 | |
144A,6.00%, 12/31/30 | | | 2,556,000 | | | | 2,439,136 | |
144A,6.00%, 9/1/31 | | | 1,798,000 | | | | 1,705,101 | |
See Notes to Financial Statements.
DBX ETF Trust | 77
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal
Amount $ | | | Value $ | |
| | |
Venture Global Calcasieu Pass LLC | | | | | | | | |
144A,3.875%, 8/15/29 | | | 4,759,000 | | | | 4,502,509 | |
144A,6.25%, 1/15/30 | | | 3,807,000 | | | | 3,960,571 | |
144A,4.125%, 8/15/31 | | | 4,759,000 | | | | 4,414,499 | |
144A,3.875%, 11/1/33 | | | 4,759,000 | | | | 4,236,483 | |
Venture Global LNG, Inc. | | | | | | | | |
144A,8.125%, 6/1/28 | | | 8,538,000 | | | | 8,947,756 | |
144A,9.50%, 2/1/29 | | | 11,421,000 | | | | 12,877,908 | |
144A,7.00%, 1/15/30 | | | 5,666,000 | | | | 5,797,129 | |
144A,8.375%, 6/1/31 | | | 8,566,000 | | | | 9,100,673 | |
144A,9.875%, 2/1/32 | | | 7,619,000 | | | | 8,469,471 | |
| | |
(Cost $213,449,433) | | | | | | | 211,842,932 | |
| | |
Financial — 11.8% | | | | | | | | |
Banks — 0.3% | | | | | | | | |
Freedom Mortgage Corp. | | | | | | | | |
144A,7.625%, 5/1/26 | | | 1,909,000 | | | | 1,918,673 | |
144A,6.625%, 1/15/27 | | | 2,037,000 | | | | 2,014,135 | |
144A,12.00%, 10/1/28 | | | 3,046,000 | | | | 3,318,928 | |
144A,12.25%, 10/1/30 | | | 1,912,000 | | | | 2,123,329 | |
| | |
(Cost $9,079,885) | | | | | | | 9,375,065 | |
| | |
Diversified Financial Services — 4.4% | | | | | | | | |
AG Issuer LLC,144A,6.25%, 3/1/28 | | | 1,851,000 | | | | 1,809,393 | |
AG TTMT Escrow Issuer LLC,144A,8.625%, 9/30/27 | | | 1,904,000 | | | | 1,975,227 | |
Bread Financial Holdings, Inc.,144A,9.75%, 3/15/29 | | | 3,422,000 | | | | 3,694,959 | |
Burford Capital Global Finance LLC,144A,9.25%, 7/1/31 | | | 2,570,000 | | | | 2,750,995 | |
Coinbase Global, Inc. | | | | | | | | |
144A,3.375%, 10/1/28 | | | 3,807,000 | | | | 3,344,767 | |
144A,3.625%, 10/1/31 | | | 2,808,000 | | | | 2,316,169 | |
Credit Acceptance Corp.,144A,9.25%, 12/15/28 | | | 2,284,000 | | | | 2,458,116 | |
Encore Capital Group, Inc. | | | | | | | | |
144A,9.25%, 4/1/29 | | | 1,902,000 | | | | 2,027,058 | |
144A,8.50%, 5/15/30 | | | 1,927,000 | | | | 2,017,971 | |
Enova International, Inc. | | | | | | | | |
144A,11.25%, 12/15/28 | | | 1,542,000 | | | | 1,660,045 | |
144A,9.125%, 8/1/29 | | | 1,905,000 | | | | 1,935,688 | |
goeasy Ltd. | | | | | | | | |
144A,9.25%, 12/1/28 | | | 2,109,000 | | | | 2,269,858 | |
144A,7.625%, 7/1/29 | | | 2,284,000 | | | | 2,357,319 | |
Jane Street Group / JSG Finance, Inc. | | | | | | | | |
144A,4.50%, 11/15/29 | | | 2,404,000 | | | | 2,296,368 | |
144A,7.125%, 4/30/31 | | | 5,358,000 | | | | 5,631,553 | |
Jefferies Finance LLC / JFIN Co.-Issuer Corp.,144A,5.00%, 8/15/28 | | | 3,768,000 | | | | 3,583,944 | |
| | | | | | | | |
| | | Principal
Amount $ | | | Value $ | |
| | |
LD Holdings Group LLC,144A,6.125%, 4/1/28 | | | 2,284,000 | | | | 1,931,817 | |
Macquarie Airfinance Holdings Ltd. | | | | | | | | |
144A,8.375%, 5/1/28 | | | 1,902,000 | | | | 2,017,041 | |
144A,6.40%, 3/26/29 | | | 1,904,000 | | | | 1,982,704 | |
144A,8.125%, 3/30/29 | | | 1,914,000 | | | | 2,036,930 | |
144A,6.50%, 3/26/31 | | | 1,922,000 | | | | 2,027,881 | |
Nationstar Mortgage Holdings, Inc. | | | | | | | | |
144A,5.00%, 2/1/26 | | | 1,901,000 | | | | 1,880,429 | |
144A,6.00%, 1/15/27 | | | 2,297,000 | | | | 2,295,057 | |
144A,5.50%, 8/15/28 | | | 3,225,000 | | | | 3,169,825 | |
144A,6.50%, 8/1/29 | | | 2,750,000 | | | | 2,774,264 | |
144A,5.125%, 12/15/30 | | | 2,418,000 | | | | 2,297,478 | |
144A,5.75%, 11/15/31 | | | 2,301,000 | | | | 2,237,306 | |
144A,7.125%, 2/1/32 | | | 4,032,000 | | | | 4,180,414 | |
Navient Corp. | | | | | | | | |
6.75%, 6/15/26 | | | 1,901,000 | | | | 1,936,610 | |
5.00%, 3/15/27 | | | 2,481,000 | | | | 2,438,208 | |
4.875%, 3/15/28 | | | 1,904,000 | | | | 1,813,867 | |
5.50%, 3/15/29 (a) | | | 2,912,000 | | | | 2,768,048 | |
9.375%, 7/25/30 | | | 1,899,000 | | | | 2,062,758 | |
11.50%, 3/15/31 | | | 1,904,000 | | | | 2,139,041 | |
OneMain Finance Corp. | | | | | | | | |
7.125%, 3/15/26 | | | 6,071,000 | | | | 6,191,194 | |
3.50%, 1/15/27 | | | 2,882,000 | | | | 2,734,825 | |
6.625%, 1/15/28 | | | 2,948,000 | | | | 3,007,405 | |
3.875%, 9/15/28 | | | 2,304,000 | | | | 2,124,037 | |
9.00%, 1/15/29 | | | 3,521,000 | | | | 3,745,728 | |
5.375%, 11/15/29 | | | 2,817,000 | | | | 2,711,550 | |
7.875%, 3/15/30 | | | 2,665,000 | | | | 2,789,546 | |
4.00%, 9/15/30 | | | 3,222,000 | | | | 2,854,217 | |
7.50%, 5/15/31 | | | 2,900,000 | | | | 2,995,564 | |
7.125%, 11/15/31 | | | 2,700,000 | | | | 2,728,867 | |
Osaic Holdings, Inc.,144A,10.75%, 8/1/27 | | | 1,411,000 | | | | 1,453,425 | |
PennyMac Financial Services, Inc. | | | | | | | | |
144A,5.375%, 10/15/25 | | | 2,521,000 | | | | 2,514,765 | |
144A,4.25%, 2/15/29 | | | 2,494,000 | | | | 2,357,831 | |
144A,7.875%, 12/15/29 | | | 3,046,000 | | | | 3,235,406 | |
144A,7.125%, 11/15/30 | | | 2,456,000 | | | | 2,497,185 | |
144A,5.75%, 9/15/31 | | | 1,737,000 | | | | 1,676,460 | |
PRA Group, Inc.,144A,8.875%, 1/31/30 | | | 1,524,000 | | | | 1,577,104 | |
Rocket Mortgage LLC / Rocket Mortgage Co.-Issuer, Inc. | | | | | | | | |
144A,2.875%, 10/15/26 | | | 4,376,000 | | | | 4,165,936 | |
144A,3.625%, 3/1/29 | | | 2,860,000 | | | | 2,657,476 | |
144A,3.875%, 3/1/31 | | | 4,809,000 | | | | 4,390,334 | |
144A,4.00%, 10/15/33 | | | 3,148,000 | | | | 2,778,239 | |
See Notes to Financial Statements.
78 | DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal
Amount $ | | | Value $ | |
| | |
SLM Corp. | | | | | | | | |
4.20%, 10/29/25 | | | 1,904,000 | | | | 1,887,782 | |
3.125%, 11/2/26 | | | 1,897,000 | | | | 1,814,689 | |
Synchrony Financial,7.25%, 2/2/33 | | | 2,855,000 | | | | 2,946,038 | |
United Wholesale Mortgage LLC | | | | | | | | |
144A,5.50%, 11/15/25 | | | 3,024,000 | | | | 3,022,364 | |
144A,5.75%, 6/15/27 | | | 1,927,000 | | | | 1,921,325 | |
144A,5.50%, 4/15/29 | | | 2,661,000 | | | | 2,597,262 | |
| | |
(Cost $161,373,556) | | | | | | | 159,495,662 | |
| | |
Insurance — 2.0% | | | | | | | | |
Acrisure LLC / Acrisure Finance, Inc. | | | | | | | | |
144A,4.25%, 2/15/29 | | | 2,626,000 | | | | 2,462,195 | |
144A,8.50%, 6/15/29 | | | 1,906,000 | | | | 1,980,696 | |
144A,6.00%, 8/1/29 (a) | | | 1,927,000 | | | | 1,842,060 | |
144A,7.50%, 11/6/30 | | | 4,152,000 | | | | 4,265,005 | |
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer | | | | | | | | |
144A,4.25%, 10/15/27 | | | 2,853,000 | | | | 2,752,327 | |
144A,6.75%, 10/15/27 | | | 5,165,000 | | | | 5,146,640 | |
144A,6.75%, 4/15/28 | | | 4,829,000 | | | | 4,923,228 | |
144A,5.875%, 11/1/29 | | | 1,711,000 | | | | 1,670,255 | |
144A,7.00%, 1/15/31 | | | 5,499,000 | | | | 5,688,721 | |
AmWINS Group, Inc.,144A,6.375%, 2/15/29 | | | 2,860,000 | | | | 2,934,208 | |
AssuredPartners, Inc. | | | | | | | | |
144A,5.625%, 1/15/29 | | | 1,947,000 | | | | 1,867,250 | |
144A,7.50%, 2/15/32 | | | 1,974,000 | | | | 2,015,097 | |
FWD Group Holdings Ltd.,144A,8.40%, 4/5/29 (a) | | | 3,421,000 | | | | 3,542,531 | |
Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC,144A,7.25%, 2/15/31 | | | 3,807,000 | | | | 3,920,898 | |
HUB International Ltd. | | | | | | | | |
144A,5.625%, 12/1/29 (a) | | | 1,940,000 | | | | 1,903,463 | |
144A,7.25%, 6/15/30 | | | 12,724,000 | | | | 13,298,641 | |
144A,7.375%, 1/31/32 | | | 7,254,000 | | | | 7,525,024 | |
USI, Inc.,144A,7.50%, 1/15/32 | | | 2,378,000 | | | | 2,493,944 | |
| | |
(Cost $69,129,254) | | | | | | | 70,232,183 | |
| | |
Investment Companies — 0.2% | | | | | | | | |
Icahn Enterprises LP / Icahn Enterprises Finance Corp. | | | | | | | | |
144A,9.75%, 1/15/29 | | | 2,656,000 | | | | 2,792,683 | |
144A,9.00%, 6/15/30 | | | 2,855,000 | | | | 2,890,921 | |
| | |
(Cost $5,592,202) | | | | | | | 5,683,604 | |
| | |
Real Estate — 0.6% | | | | | | | | |
Anywhere Real Estate Group LLC / Anywhere Co.-Issuer Corp.,144A,7.00%, 4/15/30 (a) | | | 2,587,197 | | | | 2,295,811 | |
| | | | | | | | |
| | | Principal
Amount $ | | | Value $ | |
| | |
Anywhere Real Estate Group LLC / Realogy Co-Issuer Corp | | | | | | | | |
144A,5.75%, 1/15/29 (a) | | | 2,062,000 | | | | 1,482,090 | |
144A,5.25%, 4/15/30 | | | 1,716,000 | | | | 1,197,789 | |
Cushman & Wakefield US Borrower LLC | | | | | | | | |
144A,6.75%, 5/15/28 | | | 2,493,000 | | | | 2,530,952 | |
144A,8.875%, 9/1/31 | | | 1,541,000 | | | | 1,670,147 | |
Howard Hughes Corp. | | | | | | | | |
144A,5.375%, 8/1/28 | | | 2,852,000 | | | | 2,776,011 | |
144A,4.125%, 2/1/29 | | | 2,411,000 | | | | 2,223,557 | |
144A,4.375%, 2/1/31 | | | 2,491,000 | | | | 2,234,915 | |
Kennedy-Wilson, Inc. | | | | | | | | |
4.75%, 3/1/29 | | | 2,284,000 | | | | 2,064,187 | |
4.75%, 2/1/30 | | | 2,288,000 | | | | 2,021,050 | |
5.00%, 3/1/31 | | | 2,302,000 | | | | 2,004,484 | |
| | |
(Cost $24,438,653) | | | | | | | 22,500,993 | |
| | |
Real Estate Investment Trusts — 4.0% | | | | | | | | |
Apollo Commercial Real Estate Finance, Inc.,144A,4.625%, 6/15/29 | | | 1,927,000 | | | | 1,710,330 | |
Brandywine Operating Partnership LP | | | | | | | | |
3.95%, 11/15/27 | | | 1,712,000 | | | | 1,611,937 | |
8.875%, 4/12/29 | | | 1,472,000 | | | | 1,601,016 | |
Brookfield Property REIT, Inc. / BPR Cumulus LLC / BPR Nimbus LLC / GGSI Sellco LL | | | | | | | | |
144A,5.75%, 5/15/26 | | | 2,956,000 | | | | 2,951,332 | |
144A,4.50%, 4/1/27 | | | 2,516,000 | | | | 2,428,057 | |
Diversified Healthcare Trust | | | | | | | | |
4.75%, 2/15/28 (a) | | | 1,952,000 | | | | 1,717,220 | |
4.375%, 3/1/31 | | | 1,852,000 | | | | 1,419,644 | |
Global Net Lease, Inc. / Global Net Lease Operating Partnership LP,144A,3.75%, 12/15/27 | | | 1,904,000 | | | | 1,737,347 | |
Hudson Pacific Properties LP | | | | | | | | |
3.95%, 11/1/27 | | | 1,521,000 | | | | 1,352,882 | |
4.65%, 4/1/29 (a) | | | 1,904,000 | | | | 1,576,146 | |
3.25%, 1/15/30 | | | 1,523,000 | | | | 1,126,908 | |
Iron Mountain, Inc. | | | | | | | | |
144A,4.875%, 9/15/27 | | | 3,634,000 | | | | 3,571,534 | |
144A,5.25%, 3/15/28 | | | 3,213,000 | | | | 3,179,622 | |
144A,5.00%, 7/15/28 | | | 1,882,000 | | | | 1,851,953 | |
144A,7.00%, 2/15/29 | | | 3,882,000 | | | | 4,034,765 | |
144A,4.875%, 9/15/29 | | | 3,885,000 | | | | 3,773,764 | |
144A,5.25%, 7/15/30 | | | 5,011,000 | | | | 4,887,583 | |
144A,4.50%, 2/15/31 | | | 4,182,000 | | | | 3,929,376 | |
144A,5.625%, 7/15/32 | | | 2,181,000 | | | | 2,150,366 | |
See Notes to Financial Statements.
DBX ETF Trust | 79
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal
Amount $ | | | Value $ | |
| | |
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp. | | | | | | | | |
144A,4.25%, 2/1/27 | | | 2,359,000 | | | | 2,291,549 | |
144A,4.75%, 6/15/29 | | | 2,408,000 | | | | 2,322,611 | |
144A,7.00%, 7/15/31 | | | 1,927,000 | | | | 2,004,938 | |
MPT Operating Partnership LP / MPT Finance Corp. | | | | | | | | |
5.25%, 8/1/26 (a) | | | 1,840,000 | | | | 1,732,587 | |
5.00%, 10/15/27 (a) | | | 5,428,000 | | | | 4,611,835 | |
4.625%, 8/1/29 (a) | | | 3,449,000 | | | | 2,655,092 | |
3.50%, 3/15/31 | | | 4,957,000 | | | | 3,390,803 | |
Necessity Retail REIT Inc/The / American Finance Operating Partner LP,144A,4.50%, 9/30/28 | | | 1,902,000 | | | | 1,748,966 | |
Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co.-Issuer | | | | | | | | |
144A,5.875%, 10/1/28 | | | 2,644,000 | | | | 2,632,684 | |
144A,4.875%, 5/15/29 | | | 2,855,000 | | | | 2,725,927 | |
144A,7.00%, 2/1/30 | | | 2,094,000 | | | | 2,148,331 | |
RHP Hotel Properties LP / RHP Finance Corp. | | | | | | | | |
4.75%, 10/15/27 | | | 2,614,500 | | | | 2,563,033 | |
144A,7.25%, 7/15/28 | | | 1,710,000 | | | | 1,779,650 | |
144A,4.50%, 2/15/29 | | | 2,281,000 | | | | 2,191,411 | |
144A,6.50%, 4/1/32 | | | 3,804,000 | | | | 3,920,566 | |
Rithm Capital Corp.,144A,8.00%, 4/1/29 | | | 2,950,000 | | | | 2,938,703 | |
RLJ Lodging Trust LP | | | | | | | | |
144A,3.75%, 7/1/26 | | | 1,902,000 | | | | 1,840,527 | |
144A,4.00%, 9/15/29 | | | 1,902,000 | | | | 1,727,802 | |
SBA Communications Corp. | | | | | | | | |
3.875%, 2/15/27 | | | 5,694,000 | | | | 5,515,011 | |
3.125%, 2/1/29 | | | 5,710,000 | | | | 5,259,661 | |
Service Properties Trust | | | | | | | | |
4.75%, 10/1/26 | | | 1,673,000 | | | | 1,601,304 | |
4.95%, 2/15/27 | | | 1,521,000 | | | | 1,411,778 | |
5.50%, 12/15/27 | | | 1,901,000 | | | | 1,790,157 | |
3.95%, 1/15/28 (a) | | | 1,565,000 | | | | 1,331,577 | |
8.375%, 6/15/29 | | | 2,656,000 | | | | 2,632,926 | |
4.95%, 10/1/29 | | | 1,630,000 | | | | 1,263,604 | |
4.375%, 2/15/30 | | | 1,521,000 | | | | 1,125,202 | |
144A,8.625%, 11/15/31 | | | 3,813,000 | | | | 4,082,171 | |
8.875%, 6/15/32 | | | 1,787,000 | | | | 1,684,686 | |
Starwood Property Trust, Inc. | | | | | | | | |
144A,3.625%, 7/15/26 | | | 1,272,000 | | | | 1,225,487 | |
144A,4.375%, 1/15/27 | | | 1,917,000 | | | | 1,864,030 | |
144A,7.25%, 4/1/29 | | | 2,335,000 | | | | 2,433,474 | |
Uniti Group LP / Uniti Fiber Holdings, Inc. / CSL Capital LLC,144A,6.00%, 1/15/30 | | | 2,716,000 | | | | 1,992,783 | |
| | | | | | | | |
| | | Principal
Amount $ | | | Value $ | |
| | |
Uniti Group LP / Uniti Group Finance, Inc. / CSL Capital LLC | | | | | | | | |
144A,10.50%, 2/15/28 | | | 9,898,000 | | | | 10,166,790 | |
144A,4.75%, 4/15/28 | | | 2,197,000 | | | | 1,934,717 | |
144A,6.50%, 2/15/29 | | | 4,160,000 | | | | 3,190,144 | |
Vornado Realty LP,2.15%, 6/1/26 | | | 1,459,000 | | | | 1,380,989 | |
| | |
(Cost $150,848,674) | | | | | | | 143,725,288 | |
| | |
REITS — 0.0% | | | | | | | | |
Office Properties Income Trust,144A,9.00%, 9/30/29 | | | | | | | | |
| | |
(Cost $1,721,028) | | | 2,160,000 | | | | 1,759,903 | |
| | |
Venture Capital — 0.3% | | | | | | | | |
Icahn Enterprises LP / Icahn Enterprises Finance Corp. | | | | | | | | |
6.25%, 5/15/26 | | | 4,705,000 | | | | 4,682,572 | |
5.25%, 5/15/27 | | | 5,493,000 | | | | 5,313,424 | |
4.375%, 2/1/29 | | | 2,702,000 | | | | 2,373,286 | |
| | |
(Cost $12,950,167) | | | | | | | 12,369,282 | |
| | |
Industrial — 9.5% | | | | | | | | |
Aerospace/Defense — 2.4% | | | | | | | | |
Bombardier, Inc. | | | | | | | | |
144A,7.875%, 4/15/27 | | | 3,649,000 | | | | 3,663,691 | |
144A,6.00%, 2/15/28 | | | 2,753,000 | | | | 2,757,085 | |
144A,7.50%, 2/1/29 | | | 2,891,000 | | | | 3,047,571 | |
144A,8.75%, 11/15/30 | | | 2,891,000 | | | | 3,156,264 | |
144A,7.25%, 7/1/31 | | | 2,886,000 | | | | 3,033,013 | |
144A,7.00%, 6/1/32 (a) | | | 2,882,000 | | | | 3,003,738 | |
Spirit AeroSystems, Inc. | | | | | | | | |
4.60%, 6/15/28 (a) | | | 2,681,000 | | | | 2,564,268 | |
144A,9.375%, 11/30/29 | | | 3,419,000 | | | | 3,713,998 | |
144A,9.75%, 11/15/30 | | | 4,572,000 | | | | 5,122,437 | |
TransDigm, Inc. | | | | | | | | |
5.50%, 11/15/27 | | | 9,997,000 | | | | 9,945,018 | |
144A,6.75%, 8/15/28 | | | 7,887,000 | | | | 8,118,862 | |
4.625%, 1/15/29 | | | 4,632,000 | | | | 4,459,852 | |
144A,6.375%, 3/1/29 | | | 10,431,000 | | | | 10,762,820 | |
4.875%, 5/1/29 | | | 2,710,000 | | | | 2,622,898 | |
144A,6.875%, 12/15/30 | | | 5,620,000 | | | | 5,874,288 | |
144A,7.125%, 12/1/31 | | | 3,854,000 | | | | 4,074,715 | |
144A,6.625%, 3/1/32 | | | 8,464,000 | | | | 8,812,886 | |
| | |
(Cost $83,734,264) | | | | | | | 84,733,404 | |
| | |
Building Materials — 1.3% | | | | | | | | |
Builders FirstSource, Inc. | | | | | | | | |
144A,5.00%, 3/1/30 | | | 2,147,000 | | | | 2,089,001 | |
144A,4.25%, 2/1/32 | | | 4,981,000 | | | | 4,555,009 | |
144A,6.375%, 6/15/32 (a) | | | 2,713,000 | | | | 2,796,514 | |
144A,6.375%, 3/1/34 | | | 3,724,000 | | | | 3,827,924 | |
Camelot Return Merger Sub, Inc.,144A,8.75%, 8/1/28 (a) | | | 2,699,000 | | | | 2,680,553 | |
See Notes to Financial Statements.
80 | DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal
Amount $ | | | Value $ | |
| | |
Cornerstone Building Brands, Inc.,144A,9.50%, 8/15/29 | | | 1,901,000 | | | | 1,883,660 | |
Smyrna Ready Mix Concrete LLC | | | | | | | | |
144A,6.00%, 11/1/28 | | | 4,174,000 | | | | 4,169,829 | |
144A,8.875%, 11/15/31 | | | 4,240,000 | | | | 4,555,939 | |
Standard Industries, Inc. | | | | | | | | |
144A,5.00%, 2/15/27 | | | 3,083,000 | | | | 3,048,984 | |
144A,4.75%, 1/15/28 | | | 3,835,000 | | | | 3,733,073 | |
144A,4.375%, 7/15/30 | | | 6,203,000 | | | | 5,805,820 | |
144A,3.375%, 1/15/31 | | | 4,074,000 | | | | 3,566,867 | |
Summit Materials LLC / Summit Materials Finance Corp. | | | | | | | | |
144A,5.25%, 1/15/29 | | | 2,665,000 | | | | 2,640,336 | |
144A,7.25%, 1/15/31 | | | 3,046,000 | | | | 3,220,740 | |
| | |
(Cost $49,533,658) | | | | | | | 48,574,249 | |
|
Electrical Components & Equipment — 0.5% | |
Energizer Holdings, Inc. | | | | | | | | |
144A,4.75%, 6/15/28 | | | 2,221,000 | | | | 2,142,871 | |
144A,4.375%, 3/31/29 | | | 3,012,000 | | | | 2,834,746 | |
WESCO Distribution, Inc. | | | | | | | | |
144A,7.25%, 6/15/28 | | | 5,028,000 | | | | 5,162,434 | |
144A,6.375%, 3/15/29 | | | 3,415,000 | | | | 3,508,434 | |
144A,6.625%, 3/15/32 | | | 3,253,000 | | | | 3,355,287 | |
| | |
(Cost $17,329,839) | | | | | | | 17,003,772 | |
| | |
Electronics — 0.5% | | | | | | | | |
EquipmentShare.com, Inc. | | | | | | | | |
144A,9.00%, 5/15/28 | | | 3,959,000 | | | | 4,121,089 | |
144A,8.625%, 5/15/32 | | | 2,284,000 | | | | 2,391,234 | |
Sensata Technologies BV | | | | | | | | |
144A,4.00%, 4/15/29 | | | 3,854,000 | | | | 3,631,884 | |
144A,5.875%, 9/1/30 | | | 1,941,000 | | | | 1,945,337 | |
Sensata Technologies, Inc. | | | | | | | | |
144A,4.375%, 2/15/30 | | | 1,744,000 | | | | 1,648,572 | |
144A,3.75%, 2/15/31 | | | 2,741,000 | | | | 2,477,703 | |
144A,6.625%, 7/15/32 | | | 1,902,000 | | | | 1,969,221 | |
| | |
(Cost $18,495,237) | | | | | | | 18,185,040 | |
| | |
Engineering & Construction — 0.6% | | | | | | | | |
Aeropuertos Dominicanos Siglo XXI SA,144A,7.00%, 6/30/34 | | | 1,912,000 | | | | 1,984,895 | |
Arcosa, Inc. | | | | | | | | |
144A,4.375%, 4/15/29 | | | 1,450,000 | | | | 1,376,118 | |
144A,6.875%, 8/15/32 | | | 2,300,000 | | | | 2,399,037 | |
Brand Industrial Services, Inc.,144A,10.375%, 8/1/30 | | | 5,082,000 | | | | 5,543,558 | |
Fluor Corp.,4.25%, 9/15/28 | | | 2,155,000 | | | | 2,092,071 | |
HTA Group Ltd./ Mauritius,144A,7.50%, 6/4/29 | | | 3,236,000 | | | | 3,267,329 | |
IHS Holding Ltd. | | | | | | | | |
144A,5.625%, 11/29/26 | | | 1,934,000 | | | | 1,879,664 | |
| | | | | | | | |
| | | Principal
Amount $ | | | Value $ | |
| | |
144A,6.25%, 11/29/28 | | | 1,867,000 | | | | 1,715,857 | |
| | |
(Cost $19,780,391) | | | | | | | 20,258,529 | |
| | |
Environmental Control — 0.8% | | | | | | | | |
Clean Harbors, Inc.,144A,6.375%, 2/1/31 | | | 1,901,000 | | | | 1,944,018 | |
GFL Environmental, Inc. | | | | | | | | |
144A,5.125%, 12/15/26 | | | 1,727,000 | | | | 1,721,920 | |
144A,4.00%, 8/1/28 | | | 2,909,000 | | | | 2,775,693 | |
144A,3.50%, 9/1/28 | | | 2,852,000 | | | | 2,699,265 | |
144A,4.75%, 6/15/29 | | | 2,852,000 | | | | 2,762,085 | |
144A,4.375%, 8/15/29 | | | 2,115,000 | | | | 2,009,939 | |
144A,6.75%, 1/15/31 | | | 3,798,000 | | | | 3,972,055 | |
Madison IAQ LLC | | | | | | | | |
144A,4.125%, 6/30/28 | | | 2,669,000 | | | | 2,541,808 | |
144A,5.875%, 6/30/29 | | | 3,940,000 | | | | 3,758,106 | |
Reworld Holding Corp.,5.00%, 9/1/30 | | | 1,542,000 | | | | 1,413,789 | |
Wrangler Holdco Corp.,144A,6.625%, 4/1/32 | | | 1,912,000 | | | | 1,975,408 | |
| | |
(Cost $27,793,375) | | | | | | | 27,574,086 | |
| | |
Machinery-Diversified — 0.4% | | | | | | | | |
Husky Injection Molding Systems Ltd. / Titan Co.- Borrower LLC,144A,9.00%, 2/15/29 | | | 3,807,000 | | | | 3,907,243 | |
Maxim Crane Works Holdings Capital LLC,144A,11.50%, 9/1/28 | | | 1,902,000 | | | | 1,983,529 | |
SPX FLOW, Inc.,144A,8.75%, 4/1/30 | | | 1,844,000 | | | | 1,927,061 | |
TK Elevator Holdco GmbH,144A,7.625%, 7/15/28 | | | 1,533,000 | | | | 1,536,622 | |
TK Elevator US Newco, Inc.,144A,5.25%, 7/15/27 | | | 5,919,000 | | | | 5,831,458 | |
| | |
(Cost $15,333,342) | | | | | | | 15,185,913 | |
| | |
Miscellaneous Manufacturing — 0.1% | | | | | | | | |
Hillenbrand, Inc.,6.25%, 2/15/29 | | | 1,908,000 | | | | 1,934,590 | |
Trinity Industries, Inc.,144A,7.75%, 7/15/28 | | | 2,188,000 | | | | 2,294,160 | |
| | |
(Cost $4,156,930) | | | | | | | 4,228,750 | |
| | |
Packaging & Containers — 2.4% | | | | | | | | |
Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC | | | | | | | | |
144A,6.00%, 6/15/27 | | | 2,362,000 | | | | 2,363,363 | |
144A,3.25%, 9/1/28 (a) | | | 2,365,000 | | | | 2,148,220 | |
144A,4.00%, 9/1/29 (a) | | | 3,966,000 | | | | 3,428,093 | |
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc. | | | | | | | | |
144A,4.125%, 8/15/26 (a) | | | 4,437,000 | | | | 3,832,418 | |
144A,5.25%, 8/15/27 | | | 3,814,000 | | | | 2,298,432 | |
144A,5.25%, 8/15/27 (a) | | | 3,123,000 | | | | 1,882,014 | |
See Notes to Financial Statements.
DBX ETF Trust | 81
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal
Amount $ | | | Value $ | |
| | |
Ball Corp. | | | | | | | | |
6.875%, 3/15/28 | | | 2,852,000 | | | | 2,954,826 | |
6.00%, 6/15/29 | | | 3,807,000 | | | | 3,921,971 | |
2.875%, 8/15/30 | | | 4,949,000 | | | | 4,378,068 | |
3.125%, 9/15/31 | | | 3,249,000 | | | | 2,843,695 | |
Berry Global, Inc.,144A,5.625%, 7/15/27 (a) | | | 1,904,000 | | | | 1,906,262 | |
Clydesdale Acquisition Holdings, Inc.,144A,6.875%, 1/15/30 | | | 1,901,000 | | | | 1,910,384 | |
Crown Americas LLC,5.25%, 4/1/30 (a) | | | 1,917,000 | | | | 1,917,459 | |
Graphic Packaging International LLC | | | | | | | | |
144A,3.50%, 3/15/28 | | | 1,882,000 | | | | 1,780,977 | |
144A,3.75%, 2/1/30 | | | 1,396,000 | | | | 1,292,174 | |
144A,6.375%, 7/15/32 | | | 1,979,000 | | | | 2,025,861 | |
LABL, Inc. | | | | | | | | |
144A,6.75%, 7/15/26 | | | 2,659,000 | | | | 2,647,944 | |
144A,10.50%, 7/15/27 | | | 2,627,000 | | | | 2,597,334 | |
144A,5.875%, 11/1/28 | | | 1,904,000 | | | | 1,759,874 | |
144A,8.25%, 11/1/29 (a) | | | 1,747,000 | | | | 1,559,220 | |
Mauser Packaging Solutions Holding Co. | | | | | | | | |
144A,7.875%, 4/15/27 | | | 10,253,000 | | | | 10,613,701 | |
144A,9.25%, 4/15/27 | | | 5,115,000 | | | | 5,200,707 | |
OI European Group BV,144A,4.75%, 2/15/30 | | | 1,432,000 | | | | 1,347,172 | |
Owens-Brockway Glass Container, Inc. | | | | | | | | |
144A,6.625%, 5/13/27 | | | 2,572,000 | | | | 2,582,887 | |
144A,7.25%, 5/15/31 (a) | | | 2,618,000 | | | | 2,652,359 | |
Pactiv Evergreen Group Issuer, Inc. /Pactiv Evergreen Group Issuer LLC,144A,4.00%, 10/15/27 (a) | | | 3,807,000 | | | | 3,638,624 | |
Sealed Air Corp. | | | | | | | | |
144A,4.00%, 12/1/27 | | | 1,637,000 | | | | 1,579,983 | |
144A,6.125%, 2/1/28 | | | 2,947,000 | | | | 2,996,409 | |
144A,5.00%, 4/15/29 | | | 1,671,000 | | | | 1,647,205 | |
144A,7.25%, 2/15/31 | | | 1,693,000 | | | | 1,781,276 | |
144A,6.50%, 7/15/32 | | | 1,388,000 | | | | 1,421,288 | |
Silgan Holdings, Inc.,4.125%, 2/1/28 | | | 2,170,000 | | | | 2,098,305 | |
| | |
(Cost $91,460,653) | | | | | | | 87,008,505 | |
| | |
Transportation — 0.2% | | | | | | | | |
Cargo Aircraft Management, Inc.,144A,4.75%, 2/1/28 (a) | | | 2,224,000 | | | | 2,132,666 | |
Seaspan Corp.,144A,5.50%, 8/1/29 | | | 2,896,000 | | | | 2,760,718 | |
XPO, Inc. | | | | | | | | |
144A,7.125%, 6/1/31 | | | 1,705,000 | | | | 1,784,175 | |
144A,7.125%, 2/1/32 (a) | | | 2,225,000 | | | | 2,329,326 | |
| | |
(Cost $8,954,143) | | | | | | | 9,006,885 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Trucking & Leasing — 0.3% | | | | | | | | |
Fortress Transportation and Infrastructure Investors LLC | | | | | | | | |
144A,5.50%, 5/1/28 | | | 3,813,000 | | | | 3,791,851 | |
144A,7.875%, 12/1/30 | | | 1,921,000 | | | | 2,063,373 | |
144A,7.00%, 5/1/31 | | | 2,665,000 | | | | 2,795,260 | |
144A,7.00%, 6/15/32 | | | 3,056,000 | | | | 3,199,100 | |
| | |
(Cost $11,653,544) | | | | | | | 11,849,584 | |
| | |
Technology — 5.1% | | | | | | | | |
| | |
Computers — 1.4% | | | | | | | | |
Amentum Escrow Corp.,144A,7.25%, 8/1/32 | | | 3,805,000 | | | | 3,981,660 | |
CA Magnum Holdings,144A,5.375%, 10/31/26 | | | 3,760,000 | | | | 3,678,186 | |
McAfee Corp.,144A,7.375%, 2/15/30 (a) | | | 7,696,000 | | | | 7,389,103 | |
NCR Atleos Corp.,144A,9.50%, 4/1/29 | | | 5,178,000 | | | | 5,708,973 | |
NCR Voyix Corp. | | | | | | | | |
144A,5.00%, 10/1/28 (a) | | | 2,475,000 | | | | 2,448,067 | |
144A,5.125%, 4/15/29 | | | 4,568,000 | | | | 4,483,136 | |
144A,5.25%, 10/1/30 | | | 1,723,000 | | | | 1,680,988 | |
Seagate HDD Cayman | | | | | | | | |
4.875%, 6/1/27 | | | 1,920,000 | | | | 1,912,939 | |
4.091%, 6/1/29 | | | 1,906,000 | | | | 1,815,753 | |
8.25%, 12/15/29 | | | 1,927,000 | | | | 2,090,764 | |
8.50%, 7/15/31 | | | 1,927,000 | | | | 2,097,164 | |
9.625%, 12/1/32 | | | 2,896,017 | | | | 3,341,595 | |
Western Digital Corp.,4.75%, 2/15/26 | | | 8,649,000 | | | | 8,576,385 | |
| | |
(Cost $49,307,599) | | | | | | | 49,204,713 | |
| | |
Office/Business Equipment — 0.1% | | | | | | | | |
Xerox Holdings Corp. | | | | | | | | |
144A,5.50%, 8/15/28 | | | 2,855,000 | | | | 2,447,089 | |
144A,8.875%, 11/30/29 | | | 1,897,000 | | | | 1,781,665 | |
| | |
(Cost $4,801,224) | | | | | | | 4,228,754 | |
| | |
Semiconductors — 0.5% | | | | | | | | |
ams-OSRAM AG,144A,12.25%, 3/30/29 | | | 1,542,000 | | | | 1,646,787 | |
Entegris, Inc. | | | | | | | | |
144A,4.375%, 4/15/28 | | | 1,541,000 | | | | 1,481,510 | |
144A,4.75%, 4/15/29 | | | 6,090,000 | | | | 5,981,276 | |
144A,3.625%, 5/1/29 | | | 1,542,000 | | | | 1,420,887 | |
144A,5.95%, 6/15/30 | | | 3,407,000 | | | | 3,455,379 | |
ON Semiconductor Corp.,144A,3.875%, 9/1/28 | | | 2,711,000 | | | | 2,578,122 | |
| | |
(Cost $16,417,702) | | | | | | | 16,563,961 | |
| | |
Software — 3.1% | | | | | | | | |
AthenaHealth Group, Inc.,144A,6.50%, 2/15/30 (a) | | | 8,957,000 | | | | 8,576,000 | |
See Notes to Financial Statements.
82 | DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Central Parent LLC / CDK Global II LLC / CDK Financing Co., Inc.,144A,8.00%, 6/15/29 | | | 2,885,000 | | | | 2,981,030 | |
Central Parent, Inc. / CDK Global, Inc.,144A,7.25%, 6/15/29 | | | 2,846,000 | | | | 2,862,334 | |
Clarivate Science Holdings Corp. | | | | | | | | |
144A,3.875%, 7/1/28 | | | 3,554,000 | | | | 3,381,320 | |
144A,4.875%, 7/1/29 | | | 3,431,000 | | | | 3,308,324 | |
Cloud Software Group, Inc. | | | | | | | | |
144A,6.50%, 3/31/29 | | | 15,228,000 | | | | 15,021,492 | |
144A,9.00%, 9/30/29 | | | 14,711,000 | | | | 14,818,567 | |
144A,8.25%, 6/30/32 | | | 6,688,000 | | | | 7,006,737 | |
Fair Isaac Corp. | | | | | | | | |
144A,5.25%, 5/15/26 | | | 1,518,000 | | | | 1,520,205 | |
144A,4.00%, 6/15/28 | | | 3,469,000 | | | | 3,315,935 | |
MicroStrategy, Inc.,144A,6.125%, 6/15/28 | | | 1,922,000 | | | | 1,883,059 | |
Open Text Corp. | | | | | | | | |
144A,3.875%, 2/15/28 | | | 3,415,000 | | | | 3,240,122 | |
144A,3.875%, 12/1/29 | | | 3,151,000 | | | | 2,907,748 | |
Open Text Holdings, Inc. | | | | | | | | |
144A,4.125%, 2/15/30 | | | 3,415,000 | | | | 3,174,280 | |
144A,4.125%, 12/1/31 | | | 2,475,000 | | | | 2,255,589 | |
PTC, Inc.,144A,4.00%, 2/15/28 | | | 1,917,000 | | | | 1,854,571 | |
RingCentral, Inc.,144A,8.50%, 8/15/30 | | | 1,529,000 | | | | 1,634,932 | |
ROBLOX Corp.,144A,3.875%, 5/1/30 | | | 3,794,000 | | | | 3,498,002 | |
Rocket Software, Inc. | | | | | | | | |
144A,9.00%, 11/28/28 | | | 3,016,000 | | | | 3,131,373 | |
144A,6.50%, 2/15/29 | | | 2,186,000 | | | | 1,997,618 | |
SS&C Technologies, Inc. | | | | | | | | |
144A,5.50%, 9/30/27 | | | 7,669,000 | | | | 7,667,714 | |
144A,6.50%, 6/1/32 | | | 2,876,000 | | | | 2,970,831 | |
Twilio, Inc. | | | | | | | | |
3.625%, 3/15/29 | | | 1,919,000 | | | | 1,774,403 | |
3.875%, 3/15/31 | | | 1,906,000 | | | | 1,750,417 | |
UKG, Inc.,144A,6.875%, 2/1/31 | | | 9,518,000 | | | | 9,853,529 | |
| | |
(Cost $111,500,175) | | | | | | | 112,386,132 | |
| | |
Utilities — 2.6% | | | | | | | | |
| | |
Electric — 2.4% | | | | | | | | |
Calpine Corp. | | | | | | | | |
144A,5.25%, 6/1/26 | | | 1,619,000 | | | | 1,614,910 | |
144A,4.50%, 2/15/28 | | | 4,818,000 | | | | 4,676,785 | |
144A,5.125%, 3/15/28 | | | 5,396,000 | | | | 5,269,197 | |
144A,4.625%, 2/1/29 | | | 2,503,000 | | | | 2,389,507 | |
144A,5.00%, 2/1/31 | | | 3,143,000 | | | | 3,015,652 | |
144A,3.75%, 3/1/31 | | | 3,422,000 | | | | 3,127,891 | |
Clearway Energy Operating LLC | | | | | | | | |
144A,4.75%, 3/15/28 | | | 3,253,000 | | | | 3,163,216 | |
144A,3.75%, 2/15/31 | | | 3,522,000 | | | | 3,198,370 | |
| | | | | | | | |
| | | Principal Amount $ | | | Value $ | |
| | |
Continuum Energy Aura Pte Ltd.,144A,9.50%, 2/24/27 | | | 1,664,000 | | | | 1,728,750 | |
NextEra Energy Operating Partners LP | | | | | | | | |
144A,3.875%, 10/15/26 | | | 1,784,000 | | | | 1,727,408 | |
144A,4.50%, 9/15/27 | | | 2,119,000 | | | | 2,048,559 | |
144A,7.25%, 1/15/29 (a) | | | 2,849,000 | | | | 2,985,365 | |
NRG Energy, Inc. | | | | | | | | |
5.75%, 1/15/28 | | | 3,264,000 | | | | 3,270,495 | |
144A,3.375%, 2/15/29 | | | 1,801,000 | | | | 1,654,219 | |
144A,5.25%, 6/15/29 | | | 2,861,000 | | | | 2,830,267 | |
144A,3.625%, 2/15/31 | | | 3,937,000 | | | | 3,525,703 | |
PG&E Corp. | | | | | | | | |
5.00%, 7/1/28 | | | 3,807,000 | | | | 3,731,938 | |
5.25%, 7/1/30 | | | 3,807,000 | | | | 3,729,750 | |
Talen Energy Supply LLC,144A,8.625%, 6/1/30 | | | 4,568,000 | | | | 4,950,511 | |
TransAlta Corp.,7.75%, 11/15/29 | | | 1,542,000 | | | | 1,633,252 | |
Vistra Operations Co. LLC | | | | | | | | |
144A,5.50%, 9/1/26 | | | 3,726,000 | | | | 3,724,981 | |
144A,5.625%, 2/15/27 | | | 4,985,000 | | | | 4,980,991 | |
144A,5.00%, 7/31/27 | | | 5,075,000 | | | | 5,026,740 | |
144A,4.375%, 5/1/29 | | | 4,853,000 | | | | 4,649,302 | |
144A,7.75%, 10/15/31 | | | 5,552,000 | | | | 5,911,520 | |
144A,6.875%, 4/15/32 | | | 3,684,000 | | | | 3,828,940 | |
| | |
(Cost $90,740,838) | | | | | | | 88,394,219 | |
| | |
Gas — 0.2% | | | | | | | | |
AmeriGas Partners LP / AmeriGas Finance Corp. | | | | | | | | |
5.875%, 8/20/26 | | | 2,245,000 | | | | 2,222,045 | |
5.75%, 5/20/27 | | | 1,960,000 | | | | 1,915,959 | |
144A,9.375%, 6/1/28 | | | 2,158,000 | | | | 2,267,529 | |
| | |
(Cost $6,610,519) | | | | | | | 6,405,533 | |
| | |
TOTAL CORPORATE BONDS | | | | | | | | |
| | |
(Cost $3,649,794,583) | | | | | | | 3,525,178,452 | |
| | | Number of Shares | | | | |
| | |
SECURITIES LENDING COLLATERAL — 6.6% | | | | | | | | |
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (b)(c) | | | | | | | | |
| | |
(Cost $238,972,214) | | | 238,972,214 | | | | 238,972,214 | |
See Notes to Financial Statements.
DBX ETF Trust | 83
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number of Shares | | | Value $ | |
| | |
CASH EQUIVALENTS — 1.1% | | | | | | | | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (b) | | | | | | | | |
| | |
(Cost $40,830,834) | | | 40,830,834 | | | | 40,830,834 | |
| | |
TOTAL INVESTMENTS — 105.6% | | | | | | | | |
(Cost $3,929,597,631) | | | | | | | 3,804,981,500 | |
Other assets and liabilities, net — (5.6%) | | | | | | | (202,004,945 | ) |
| | |
NET ASSETS — 100.0% | | | | | | | 3,602,976,555 | |
A summary of the Fund’s transactions with affiliated investments during the year ended August 31, 2024 is as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Value ($) at 8/31/2023 | | | Purchases Cost ($) | | | Sales Proceeds ($) | | | Net Realized Gain/(Loss) ($) | | | Net Change in Unrealized Appreciation (Depreciation) ($) | | | Income ($) | | | Capital Gain Distributions ($) | | | Number of Shares at 8/31/2024 | | | Value ($) at 8/31/2024 | |
| | SECURITIES LENDING COLLATERAL — 6.6% | |
| | DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (b)(c) | |
| | — | | | | 238,972,214 | (d) | | | — | | | | — | | | | — | | | | 1,571,846 | | | | — | | | | 238,972,214 | | | | 238,972,214 | |
|
| | CASH EQUIVALENTS — 1.1% | |
| | DWS Government Money Market Series “Institutional Shares”, 5.24% (b) | |
| | 49,189,697 | | | | 485,622,676 | | | | (493,981,539 | ) | | | — | | | | — | | | | 1,604,675 | | | | — | | | | 40,830,834 | | | | 40,830,834 | |
| | 49,189,697 | | | | 724,594,890 | | | | (493,981,539 | ) | | | — | | | | — | | | | 3,176,521 | | | | — | | | | 279,803,048 | | | | 279,803,048 | |
| (a) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at August 31, 2024 amounted to $233,785,709, which is 6.5% of net assets. |
| (b) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
| (c) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. |
| (d) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the year ended August 31, 2024. |
| PIK: | Denotes that all or a portion of the income is paid in-kind in the form of additional principal. |
| 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. |
See Notes to Financial Statements.
84 | DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2024
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of August 31, 2024 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 (a) | | $ | — | | | $ | 3,525,178,452 | | | $ | — | | | $ | 3,525,178,452 | |
Short-Term Investments (a) | | | 279,803,048 | | | | — | | | | — | | | | 279,803,048 | |
| | | | |
TOTAL | | $ | 279,803,048 | | | $ | 3,525,178,452 | | | $ | — | | | $ | 3,804,981,500 | |
| (a) | See Schedule of Investments for additional detailed categorizations. |
See Notes to Financial Statements.
DBX ETF Trust | 85
Statements of Assets and Liabilities
August 31, 2024
| | | | | | | | | | | | | | | | |
| | | 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 | | $ | 12,265,154 | | | $ | 216,334,395 | | | $ | — | | | $ | 101,211,427 | |
Investment in affiliated securities at value | | | — | | | | — | | | | 42,469,668 | | | | — | |
Investment in DWS Government Money Market Series | | | 127,410 | | | | 3,352,412 | | | | 260,490 | | | | 1,306,482 | |
Investment in DWS Government & Agency Securities Portfolio* | | | 1,027,697 | | | | 4,418,701 | | | | — | | | | 4,160,683 | |
Foreign currency at value | | | 4 | | | | 552 | | | | — | | | | 111 | |
Receivables: | | | | | | | | | | | | | | | | |
Investment securities sold | | | 490,707 | | | | 6,504,387 | | | | — | | | | 3,614,798 | |
Interest | | | 235,633 | | | | 2,927,038 | | | | 1,245 | | | | 1,687,619 | |
Affiliated securities lending income | | | 788 | | | | 903 | | | | — | | | | 4,250 | |
Total assets | | $ | 14,147,393 | | | $ | 233,538,388 | | | $ | 42,731,403 | | | $ | 111,985,370 | |
| | | | |
Liabilities | | | | | | | | | | | | | | | | |
Due to custodian | | $ | 2,512 | | | $ | — | | | $ | — | | | $ | 506 | |
Payable upon return of securities loaned | | | 1,027,697 | | | | 4,418,701 | | | | — | | | | 4,160,683 | |
Payables: | | | | | | | | | | | | | | | | |
Investment securities purchased | | | 533,345 | | | | 7,959,118 | | | | — | | | | 4,232,818 | |
Investment advisory fees | | | 2,095 | | | | 36,898 | | | | 9,154 | | | | 18,005 | |
Total liabilities | | | 1,565,649 | | | | 12,414,717 | | | | 9,154 | | | | 8,412,012 | |
Net Assets, at value | | $ | 12,581,744 | | | $ | 221,123,671 | | | $ | 42,722,249 | | | $ | 103,573,358 | |
| | | | |
Net Assets Consist of | | | | | | | | | | | | | | | | |
Paid-in capital | | $ | 24,958,877 | | | $ | 287,974,690 | | | $ | 44,248,211 | | | $ | 105,775,201 | |
Distributable earnings (loss) | | | (12,377,133 | ) | | | (66,851,019 | ) | | | (1,525,962 | ) | | | (2,201,843 | ) |
Net Assets, at value | | $ | 12,581,744 | | | $ | 221,123,671 | | | $ | 42,722,249 | | | $ | 103,573,358 | |
Number of Common Shares outstanding | | | 300,001 | | | | 4,700,001 | | | | 1,800,001 | | | | 2,300,001 | |
Net Asset Value | | $ | 41.94 | | | $ | 47.05 | | | $ | 23.73 | | | $ | 45.03 | |
| | | | |
Investment in non-affiliated securities at cost | | $ | 12,651,035 | | | $ | 215,891,183 | | | $ | – | | | $ | 99,912,545 | |
Investment in affiliated securities at cost | | $ | – | | | $ | – | | | $ | 44,034,163 | | | $ | – | |
Value of securities loaned | | $ | 1,005,099 | | | $ | 4,323,910 | | | $ | — | | | $ | 4,068,197 | |
Investment in DWS Government Money Market Series at cost | | $ | 127,410 | | | $ | 3,352,412 | | | $ | 260,490 | | | $ | 1,306,482 | |
Investment in DWS Government & Agency Securities Portfolio at cost* | | $ | 1,027,697 | | | $ | 4,418,701 | | | $ | — | | | $ | 4,160,683 | |
Foreign currency at cost | | $ | 4 | | | $ | 512 | | | $ | — | | | $ | 107 | |
| * | Represents collateral on securities loaned. |
See Notes to Financial Statements.
86 | DBX ETF Trust
Statements of Assets and Liabilities (Continued)
August 31, 2024
| | | | | | | | |
| | | Xtrackers USD High Yield BB-B ex Financials ETF | | | Xtrackers USD High Yield Corporate Bond ETF | |
| | |
Assets | | | | | | | | |
Investment in non-affiliated securities at value | | $ | 641,048,921 | | | $ | 3,525,178,452 | |
Investment in DWS Government Money Market Series | | | 9,081,613 | | | | 40,830,834 | |
Investment in DWS Government & Agency Securities Portfolio* | | | 16,776,173 | | | | 238,972,214 | |
Foreign currency at value | | | — | | | | 8,054 | |
Receivables: | | | | | | | | |
Investment securities sold | | | 20,084,954 | | | | 84,504,977 | |
Interest | | | 10,249,342 | | | | 58,594,865 | |
Affiliated securities lending income | | | 17,670 | | | | 163,061 | |
Total assets | | $ | 697,258,673 | | | $ | 3,948,252,457 | |
| | |
Liabilities | | | | | | | | |
Due to custodian | | $ | — | | | $ | 2,938 | |
Payable upon return of securities loaned | | | 16,776,173 | | | | 238,972,214 | |
Payables: | | | | | | | | |
Investment securities purchased | | | 17,098,841 | | | | 87,911,934 | |
Capital shares | | | 8,191,173 | | | | 18,242,195 | |
Investment advisory fees | | | 111,031 | | | | 146,621 | |
Total liabilities | | | 42,177,218 | | | | 345,275,902 | |
Net Assets, at value | | $ | 655,081,455 | | | $ | 3,602,976,555 | |
| | |
Net Assets Consist of | | | | | | | | |
Paid-in capital | | $ | 633,947,474 | | | $ | 4,020,177,330 | |
Distributable earnings (loss) | | | 21,133,981 | | | | (417,200,775 | ) |
Net Assets, at value | | $ | 655,081,455 | | | $ | 3,602,976,555 | |
Number of Common Shares outstanding | | | 12,000,001 | | | | 98,787,501 | |
Net Asset Value | | $ | 54.59 | | | $ | 36.47 | |
| | |
Investment in non-affiliated securities at cost | | $ | 622,278,863 | | | $ | 3,649,794,583 | |
Value of securities loaned | | $ | 16,134,348 | | | $ | 233,785,709 | |
Investment in DWS Government Money Market Series at cost | | $ | 9,081,613 | | | $ | 40,830,834 | |
Investment in DWS Government & Agency Securities Portfolio at cost* | | $ | 16,776,173 | | | $ | 238,972,214 | |
Foreign currency at cost | | $ | — | | | $ | 7,650 | |
| * | Represents collateral on securities loaned. |
See Notes to Financial Statements.
DBX ETF Trust | 87
Statements of Operations
August 31, 2024
| | | | | | | | | | | | | | | | |
| | | 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 | |
| | | | |
Investment Income | | | | | | | | | | | | | | | | |
Unaffiliated interest income | | $ | 952,057 | | | $ | 11,691,376 | | | $ | — | | | $ | 7,332,752 | |
Affiliated dividend income | | | — | | | | — | | | | 2,712,119 | | | | — | |
Income distributions from affiliated funds | | | 6,106 | | | | 124,292 | | | | 15,069 | | | | 62,061 | |
Affiliated securities lending income | | | 6,561 | | | | 18,028 | | | | 4,259 | | | | 35,238 | |
Payments by affiliates (see note 6) | | | — | | | | 2,730 | | | | — | | | | 549 | |
Total investment income | | | 964,724 | | | | 11,836,426 | | | | 2,731,447 | | | | 7,430,600 | |
| | | | |
Expenses | | | | | | | | | | | | | | | | |
Investment advisory fees | | | 41,401 | | | | 535,891 | | | | 130,715 | | | | 196,430 | |
Other expenses | | | 58 | | | | 2,150 | | | | 58 | | | | 173 | |
Total expenses | | | 41,459 | | | | 538,041 | | | | 130,773 | | | | 196,603 | |
Less fees waived (see note 3): | | | | | | | | | | | | | | | | |
Waiver | | | (17,317 | ) | | | (105,312 | ) | | | (32,167 | ) | | | (1,316 | ) |
Net expenses | | | 24,142 | | | | 432,729 | | | | 98,606 | | | | 195,287 | |
| Net investment income (loss) | | | 940,582 | | | | 11,403,697 | | | | 2,632,841 | | | | 7,235,313 | |
| | | | |
Realized and Unrealized Gain (Loss) | | | | | | | | | | | | | | | | |
| | | | |
Net realized gain (loss) from: | | | | | | | | | | | | | | | | |
Investments | | | (219,599 | ) | | | (2,779,844 | ) | | | — | | | | (706,450 | ) |
In-kind redemptions | | | — | | | | 68,685 | | | | — | | | | 362,202 | |
In-kind redemptions in affiliates | | | — | | | | — | | | | (15,616 | ) | | | — | |
Net realized gain (loss) | | | (219,599 | ) | | | (2,711,159 | ) | | | (15,616 | ) | | | (344,248 | ) |
Net change in unrealized appreciation (depreciation) on: | | | | | | | | | | | | | | | | |
Investments | | | 822,321 | | | | 13,481,542 | | | | — | | | | 3,611,517 | |
Investments in affiliates | | | — | | | | — | | | | 2,328,271 | | | | — | |
Foreign currency translations | | | — | | | | 9 | | | | — | | | | 2 | |
Net change in unrealized appreciation (depreciation) | | | 822,321 | | | | 13,481,551 | | | | 2,328,271 | | | | 3,611,519 | |
Net realized and unrealized gain (loss) on investments and foreign currency transactions | | | 602,722 | | | | 10,770,392 | | | | 2,312,655 | | | | 3,267,271 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | | $ | 1,543,304 | | | $ | 22,174,089 | | | $ | 4,945,496 | | | $ | 10,502,584 | |
| | | | | | | | | | | | | | | | | |
See Notes to Financial Statements.
88 | DBX ETF Trust
Statements of Operations (Continued)
August 31, 2024
| | | | | | | | |
| | | Xtrackers USD High Yield BB-B ex Financials ETF(1) | | | Xtrackers USD High Yield Corporate Bond ETF | |
| | |
Investment Income | | | | | | | | |
Unaffiliated interest income | | $ | 33,302,192 | | | $ | 202,596,198 | |
Income distributions from affiliated funds | | | 240,687 | | | | 1,604,675 | |
Affiliated securities lending income | | | 57,818 | | | | 1,571,846 | |
Payments by affiliates (see note 6) | | | — | | | | 43,823 | |
Total investment income | | | 33,600,697 | | | | 205,816,542 | |
| | |
Expenses | | | | | | | | |
Investment advisory fees | | | 933,188 | | | | 6,350,601 | |
Excise tax expense | | | 42,337 | | | | — | |
Other expenses | | | — | | | | 4,150 | |
Total expenses | | | 975,525 | | | | 6,354,751 | |
Less fees waived (see note 3): | | | | | | | | |
Waiver | | | (5,274 | ) | | | (4,040,037 | ) |
Net expenses | | | 970,251 | | | | 2,314,714 | |
Net investment income (loss) | | | 32,630,446 | | | | 203,501,828 | |
| | |
Realized and Unrealized Gain (Loss) | | | | | | | | |
Net realized gain (loss) from: | | | | | | | | |
Investments | | | (2,467,759 | ) | | | (50,878,577 | ) |
In-kind redemptions | | | 1,548,044 | | | | (56,806,936 | ) |
Foreign currency transactions | | | — | | | | (1 | ) |
Payments by Affiliates (see note 6) | | | — | | | | 2,709 | |
Net realized gain (loss) | | | (919,715 | ) | | | (107,682,805 | ) |
| | |
Net change in unrealized appreciation (depreciation) on: | | | | | | | | |
Investments | | | 18,770,058 | | | | 262,068,605 | |
Foreign currency translations | | | — | | | | 182 | |
Net change in unrealized appreciation (depreciation) | | | 18,770,058 | | | | 262,068,787 | |
Net realized and unrealized gain (loss) on investments and foreign currency transactions | | | 17,850,343 | | | | 154,385,982 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | | $ | 50,480,789 | | | $ | 357,887,810 | |
| | | | | | | | | |
| (1) | For the period October 27, 2023 (commencement of operations) through August 31, 2024. |
See Notes to Financial Statements.
DBX ETF Trust | 89
Statements of Changes in Net Assets
| | | | | | | | | | | | | | | | |
| | | Xtrackers High Beta High Yield Bond ETF | | | Xtrackers Low Beta High Yield Bond ETF | |
| | | Year Ended
August 31, 2024 | | | Year Ended
August 31, 2023 | | | Year Ended
August 31, 2024 | | | Year Ended
August 31, 2023 | |
| | | | |
Increase (Decrease) in Net Assets from Operations | | | | | | | | | | | | | | | | |
Net investment income (loss) | | $ | 940,582 | | | $ | 955,857 | | | $ | 11,403,697 | | | $ | 40,419,959 | |
Net realized gain (loss) | | | (219,599 | ) | | | (871,494 | ) | | | (2,711,159 | ) | | | (89,042,061 | ) |
Net change in net unrealized appreciation (depreciation) | | | 822,321 | | | | 981,672 | | | | 13,481,551 | | | | 90,607,924 | |
Net increase (decrease) in net assets resulting from operations | | | 1,543,304 | | | | 1,066,035 | | | | 22,174,089 | | | | 41,985,822 | |
Distributions to Shareholders | | | (940,617 | ) | | | (974,644 | ) | | | (12,519,886 | ) | | | (44,403,017 | ) |
Fund Shares Transactions | | | | | | | | | | | | | | | | |
Proceeds from shares sold | | | — | | | | 1,901,084 | | | | 13,667,202 | | | | 223,270,378 | |
Value of shares redeemed | | | — | | | | (1,965,874 | ) | | | (25,205,838 | ) | | | (1,438,511,784 | ) |
| Net increase (decrease) in net assets resulting from fund share transactions | | | — | | | | (64,790 | ) | | | (11,538,636 | ) | | | (1,215,241,406 | ) |
Total net increase (decrease) in Net Assets | | | 602,687 | | | | 26,601 | | | | (1,884,433 | ) | | | (1,217,658,601 | ) |
Net Assets | | | | | | | | | | | | | | | | |
Beginning of year | | | 11,979,057 | | | | 11,952,456 | | | | 223,008,104 | | | | 1,440,666,705 | |
End of year | | $ | 12,581,744 | | | $ | 11,979,057 | | | $ | 221,123,671 | | | $ | 223,008,104 | |
| | | | |
Changes in Shares Outstanding | | | | | | | | | | | | | | | | |
Shares outstanding, beginning of year | | | 300,001 | | | | 300,001 | | | | 4,950,001 | | | | 31,950,001 | |
Shares sold | | | — | | | | 50,000 | | | | 300,000 | | | | 4,950,000 | |
Shares redeemed | | | — | | | | (50,000 | ) | | | (550,000 | ) | | | (31,950,000 | ) |
Shares outstanding, end of year | | | 300,001 | | | | 300,001 | | | | 4,700,001 | | | | 4,950,001 | |
See Notes to Financial Statements.
90 | 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 | |
| | | Year Ended August 31, 2024 | | | Year Ended August 31, 2023 | | | Year Ended August 31, 2024 | | | Year Ended August 31, 2023 | |
| | | | |
Increase (Decrease) in Net Assets from Operations | | | | | | | | | | | | | | | | |
Net investment income (loss) | | $ | 2,632,841 | | | $ | 2,659,209 | | | $ | 7,235,313 | | | $ | 4,766,172 | |
Net realized gain (loss) | | | (15,616 | ) | | | (288,554 | ) | | | (344,248 | ) | | | (4,050,667 | ) |
Net change in net unrealized appreciation (depreciation) | | | 2,328,271 | | | | 868,253 | | | | 3,611,519 | | | | 4,643,666 | |
Net increase (decrease) in net assets resulting from operations | | | 4,945,496 | | | | 3,238,908 | | | | 10,502,584 | | | | 5,359,171 | |
Distributions to Shareholders | | | (2,639,060 | ) | | | (2,798,892 | ) | | | (7,056,553 | ) | | | (4,721,603 | ) |
Fund Shares Transactions | | | | | | | | | | | | | | | | |
Proceeds from shares sold | | | 2,286,891 | | | | 1,679,445 | | | | 28,559,885 | | | | 25,919,023 | |
Value of shares redeemed | | | (5,797,115 | ) | | | (7,782,030 | ) | | | (11,133,837 | ) | | | (29,934,486 | ) |
| Net increase (decrease) in net assets resulting from fund share transactions | | | (3,510,224 | ) | | | (6,102,585 | ) | | | 17,426,048 | | | | (4,015,463 | ) |
Total net increase (decrease) in Net Assets | | | (1,203,788 | ) | | | (5,662,569 | ) | | | 20,872,079 | | | | (3,377,895 | ) |
Net Assets | | | | | | | | | | | | | | | | |
Beginning of year | | | 43,926,037 | | | | 49,588,606 | | | | 82,701,279 | | | | 86,079,174 | |
End of year | | $ | 42,722,249 | | | $ | 43,926,037 | | | $ | 103,573,358 | | | $ | 82,701,279 | |
| | | | |
Changes in Shares Outstanding | | | | | | | | | | | | | | | | |
Shares outstanding, beginning of year | | | 1,950,001 | | | | 2,225,001 | | | | 1,900,001 | | | | 2,000,001 | |
Shares sold | | | 100,000 | | | | 75,000 | | | | 650,000 | | | | 600,000 | |
Shares redeemed | | | (250,000 | ) | | | (350,000 | ) | | | (250,000 | ) | | | (700,000 | ) |
Shares outstanding, end of year | | | 1,800,001 | | | | 1,950,001 | | | | 2,300,001 | | | | 1,900,001 | |
See Notes to Financial Statements.
DBX ETF Trust | 91
Statements of Changes in Net Assets (Continued)
| | | | | | | | | | | | |
| | | Xtrackers USD High Yield BB-B ex Financials ETF | | | Xtrackers USD High Yield Corporate Bond ETF | |
| | | For the Period October 27, 2023(1) to August 31, 2024 | | | Year Ended August 31, 2024 | | | Year Ended August 31, 2023 | |
| | | |
Increase (Decrease) in Net Assets from Operations | | | | | | | | | | | | |
Net investment income (loss) | | $ | 32,630,446 | | | $ | 203,501,828 | | | $ | 216,469,674 | |
Net realized gain (loss) | | | (919,715 | ) | | | (107,682,805 | ) | | | (151,014,625 | ) |
Net change in net unrealized appreciation (depreciation) | | | 18,770,058 | | | | 262,068,787 | | | | 187,819,556 | |
Net increase (decrease) in net assets resulting from operations | | | 50,480,789 | | | | 357,887,810 | | | | 253,274,605 | |
Distributions to Shareholders | | | (27,841,510 | ) | | | (206,009,266 | ) | | | (218,918,420 | ) |
Fund Shares Transactions | | | | | | | | | | | | |
Proceeds from shares sold | | | 659,400,164 | | | | 3,055,914,014 | | | | 6,278,010,067 | |
Value of shares redeemed | | | (26,958,038 | ) | | | (3,463,978,979 | ) | | | (6,068,454,467 | ) |
| Net increase (decrease) in net assets resulting from fund share transactions | | | 632,442,126 | | | | (408,064,965 | ) | | | 209,555,600 | |
Total net increase (decrease) in Net Assets | | | 655,081,405 | | | | (256,186,421 | ) | | | 243,911,785 | |
Net Assets | | | | | | | | | | | | |
Beginning of period | | | 50 | | | | 3,859,162,976 | | | | 3,615,251,191 | |
End of period | | $ | 655,081,455 | | | $ | 3,602,976,555 | | | $ | 3,859,162,976 | |
| | | |
Changes in Shares Outstanding | | | | | | | | | | | | |
Shares outstanding, beginning of period | | | 1 | | | | 111,587,501 | | | | 105,187,501 | |
Shares sold | | | 12,500,000 | | | | 87,300,000 | | | | 183,900,000 | |
Shares redeemed | | | (500,000 | ) | | | (100,100,000 | ) | | | (177,500,000 | ) |
Shares outstanding, end of period | | | 12,000,001 | | | | 98,787,501 | | | | 111,587,501 | |
| (1) | Commencement of Operations. |
See Notes to Financial Statements.
92 | DBX ETF Trust
Financial Highlights
Xtrackers High Beta High Yield Bond ETF
| | | | | | | | | | | | | | | | | | | | |
| | | Years Ended August 31, | |
| | | | | |
| | | 2024 | | | 2023 | | | 2022 | | | 2021 | | | 2020 | |
| | | | | |
Selected Per Share Data | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of year | | $ | 39.93 | | | $ | 39.84 | | | $ | 48.35 | | | $ | 46.55 | | | $ | 48.61 | |
Income (loss) from investment operations: | | | | | | | | | | | | | | | | | | | | |
Net investment income (loss)(a) | | | 3.14 | | | | 2.90 | | | | 2.51 | | | | 2.60 | | | | 3.01 | (b) |
Net realized and unrealized gain (loss) | | | 2.01 | | | | 0.15 | | | | (8.37 | ) | | | 2.65 | | | | (1.95 | )(b) |
Total from investment operations | | | 5.15 | | | | 3.05 | | | | (5.86 | ) | | | 5.25 | | | | 1.06 | |
Less distributions from: | | | | | | | | | | | | | | | | | | | | |
Net investment income | | | (3.14 | ) | | | (2.96 | ) | | | (2.65 | ) | | | (3.45 | ) | | | (3.12 | ) |
Total from distributions | | | (3.14 | ) | | | (2.96 | ) | | | (2.65 | ) | | | (3.45 | ) | | | (3.12 | ) |
Net Asset Value, end of year | | $ | 41.94 | | | $ | 39.93 | | | $ | 39.84 | | | $ | 48.35 | | | $ | 46.55 | |
Total Return (%)(c) | | | 13.58 | | | | 8.11 | | | | (12.56 | ) | | | 11.67 | | | | 2.46 | |
| | | | | |
Ratios to Average Net Assets and Supplemental Data | | | | | | | | | | | | | | | | | | | | |
Net Assets, end of year ($ millions) | | | 13 | | | | 12 | | | | 12 | | | | 197 | | | | | |
Ratio of expenses before fee waiver (%) | | | 0.34 | | | | 0.35 | | | | 0.35 | | | | 0.35 | | | | 0.35 | |
Ratio of expenses after fee waiver (%) | | | 0.20 | | | | 0.20 | | | | 0.20 | | | | 0.20 | | | | 0.20 | |
Ratio of net investment income (loss) (%) | | | 7.77 | | | | 7.40 | | | | 5.61 | | | | 5.45 | | | | 6.50 | (b) |
Portfolio turnover rate (%)(d) | | | 52 | | | | 58 | | | | 55 | | | | 98 | | | | 98 | |
| (a) | Based on average shares outstanding during the period. |
| (b) | 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, increase to net realized and unrealized gain (loss) from investments per share by $0.04 and decrease to the ratio of net investment income to average net assets of 0.08%. Per share data and ratios for years prior to August 31, 2020 have not been restated to reflect this change in presentation. |
| (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. |
See Notes to Financial Statements.
DBX ETF Trust | 93
Financial Highlights (Continued)
Xtrackers Low Beta High Yield Bond ETF
| | | | | | | | | | | | | | | | | | | | |
| | | Years Ended August 31, | |
| | | | | |
| | | 2024 | | | 2023 | | | 2022 | | | 2021 | | | 2020 | |
| | | | | |
Selected Per Share Data | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of year | | $ | 45.05 | | | $ | 45.09 | | | $ | 51.05 | | | $ | 50.50 | | | $ | 50.62 | |
Income (loss) from investment operations: | | | | | | | | | | | | | | | | | | | | |
Net investment income (loss)(a) | | | 2.40 | | | | 2.24 | | | | 1.69 | | | | 1.45 | | | | 2.02 | (b) |
Net realized and unrealized gain (loss) | | | 2.23 | | | | 0.14 | | | | (5.87 | ) | | | 1.07 | | | | 0.12 | (b) |
Total from investment operations | | | 4.63 | | | | 2.38 | | | | (4.18 | ) | | | 2.52 | | | | 2.14 | |
Less distributions from: | | | | | | | | | | | | | | | | | | | | |
Net investment income | | | (2.63 | ) | | | (2.42 | ) | | | (1.78 | ) | | | (1.97 | ) | | | (2.26 | ) |
Total from distributions | | | (2.63 | ) | | | (2.42 | ) | | | (1.78 | ) | | | (1.97 | ) | | | (2.26 | ) |
Net Asset Value, end of year | | $ | 47.05 | | | $ | 45.05 | | | $ | 45.09 | | | $ | 51.05 | | | $ | 50.50 | |
Total Return (%)(c) | | | 10.68 | | | | 5.44 | | | | (8.36 | ) | | | 5.12 | | | | 4.42 | |
| | | | | |
Ratios to Average Net Assets and Supplemental Data | | | | | | | | | | | | | | | | | | | | |
Net Assets, end of year ($ millions) | | | 221 | | | | 223 | | | | 1,441 | | | | 750 | | | | 38 | |
Ratio of expenses before fee waiver (%) | | | 0.25 | | | | 0.25 | | | | 0.25 | | | | 0.25 | | | | 0.25 | |
Ratio of expenses after fee waiver (%) | | | 0.20 | | | | 0.20 | | | | 0.20 | | | | 0.20 | | | | 0.20 | |
Ratio of net investment income (loss) (%) | | | 5.27 | | | | 4.97 | | | | 3.53 | | | | 2.89 | | | | 4.09 | (b) |
Portfolio turnover rate (%)(d) | | | 50 | | | | 52 | | | | 68 | | | | 88 | | | | 111 | |
| (a) | Based on average shares outstanding during the period. |
| (b) | 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 $0.23, increase to net realized and unrealized gain (loss) from investments per share by $0.23 and decrease to the ratio of net investment income to average net assets of 0.47%. Per share data and ratios for years prior to August 31, 2020 have not been restated to reflect this change in presentation. |
| (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. |
See Notes to Financial Statements.
94 | DBX ETF Trust
Financial Highlights (Continued)
Xtrackers Risk Managed USD High Yield Strategy ETF
| | | | | | | | | | | | |
| | | Years Ended August 31, | | | Period Ended | |
| | | 2024 | | | 2023 | | | 8/31/2022(a) | |
| | | |
Selected Per Share Data | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 22.53 | | | $ | 22.29 | | | $ | 25.00 | |
Income (loss) from investment operations: | | | | | | | | | | | | |
Net investment income (loss)(b) | | | 1.38 | | | | 1.28 | | | | 0.58 | |
Net realized and unrealized gain (loss) | | | 1.20 | | | | 0.29 | | | | (2.84) | |
Total from investment operations | | | 2.58 | | | | 1.57 | | | | (2.26) | |
Less distributions from: | | | | | | | | | | | | |
Net investment income | | | (1.38 | ) | | | (1.33 | ) | | | (0.45) | |
Total from distributions | | | (1.38 | ) | | | (1.33 | ) | | | (0.45) | |
Net Asset Value, end of period | | $ | 23.73 | | | $ | 22.53 | | | $ | 22.29 | |
Total Return (%)(c) | | | 11.92 | | | | 7.27 | | | | (9.12)** | |
| | | |
Ratios to Average Net Assets and Supplemental Data | | | | | | | | | | | | |
Net Assets, end of period ($ millions) | | | 43 | | | | 44 | | | | 50 | |
Ratio of expenses before fee waiver (%)(d) | | | 0.30 | | | | 0.30 | | | | 0.30* | |
Ratio of expenses after fee waiver (%)(d) | | | 0.23 | | | | 0.15 | | | | 0.15* | |
Ratio of net investment income (loss) (%) | | | 6.04 | | | | 5.74 | | | | 4.54* | |
Portfolio turnover rate (%)(e) | | | 0 | (f) | | | 0 | (f) | | | 0**(f) | |
| (a) | For the period February 10, 2022 (commencement of operations) through August 31, 2022. |
| (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) | 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 include these indirect fees and expenses. |
| (e) | Portfolio turnover rate does not include securities received or delivered from processing creations or redemptions. |
| (f) | Amount is less than 0.5%. |
See Notes to Financial Statements.
DBX ETF Trust | 95
Financial Highlights (Continued)
Xtrackers Short Duration High Yield Bond ETF
| | | | | | | | | | | | | | | | | | | | |
| | | Years Ended August 31, | |
| | | | | |
| | | 2024 | | | 2023 | | | 2022 | | | 2021 | | | 2020 | |
| | | | | |
Selected Per Share Data | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of year | | $ | 43.53 | | | $ | 43.04 | | | $ | 47.89 | | | $ | 46.57 | | | $ | 49.13 | |
Income (loss) from investment operations: | | | | | | | | | | | | | | | | | | | | |
Net investment income (loss)(a) | | | 3.23 | | | | 2.71 | | | | 2.04 | | | | 2.34 | | | | 2.69 | (b) |
Net realized and unrealized gain (loss) | | | 1.44 | | | | 0.45 | | | | (4.76 | ) | | | 1.67 | | | | (2.47 | )(b) |
Total from investment operations | | | 4.67 | | | | 3.16 | | | | (2.72 | ) | | | 4.01 | | | | 0.22 | |
Less distributions from: | | | | | | | | | | | | | | | | | | | | |
Net investment income | | | (3.17 | ) | | | (2.67 | ) | | | (2.13 | ) | | | (2.69 | ) | | | (2.78 | ) |
Total from distributions | | | (3.17 | ) | | | (2.67 | ) | | | (2.13 | ) | | | (2.69 | ) | | | (2.78 | ) |
Net Asset Value, end of year | | $ | 45.03 | | | $ | 43.53 | | | $ | 43.04 | | | $ | 47.89 | | | $ | 46.57 | |
Total Return (%)(c) | | | 11.25 | | | | 7.65 | | | | (5.84 | ) | | | 8.86 | | | | 0.61 | |
| | | | | |
Ratios to Average Net Assets and Supplemental Data | | | | | | | | | | | | | | | | | | | | |
Net Assets, end of year ($ millions) | | | 104 | | | | 83 | | | | 86 | | | | 77 | | | | 37 | |
Ratio of expenses before fee waiver (%) | | | 0.20 | | | | 0.20 | | | | 0.20 | | | | 0.20 | | | | 0.20 | |
Ratio of expenses after fee waiver (%) | | | 0.20 | | | | 0.20 | | | | 0.20 | | | | 0.20 | | | | 0.20 | |
Ratio of net investment income (loss) (%) | | | 7.36 | | | | 6.30 | | | | 4.48 | | | | 4.95 | | | | 6.13 | (b) |
Portfolio turnover rate (%)(d) | | | 56 | | | | 49 | | | | 46 | | | | 52 | | | | 150 | |
| (a) | Based on average shares outstanding during the period. |
| (b) | 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%. Per share data and ratios for years prior to August 31, 2020 have not been restated to reflect this change in presentation. |
| (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. |
See Notes to Financial Statements.
96 | DBX ETF Trust
Financial Highlights (Continued)
Xtrackers USD High Yield BB-B ex Financials ETF
| | | | |
| | | Period Ended
8/31/2024(a) | |
| |
Selected Per Share Data | | | | |
Net Asset Value, beginning of period | | $ | 50.00 | |
Income (loss) from investment operations: | | | | |
Net investment income (loss)(b) | | | 3.14 | |
Net realized and unrealized gain (loss) | | | 4.03 | |
Total from investment operations | | | 7.17 | |
Less distributions from: | | | | |
Net investment income | | | (2.58 | ) |
Total from distributions | | | (2.58 | ) |
Net Asset Value, end of period | | $ | 54.59 | |
Total Return (%)(c) | | | 14.62 | ** |
| |
Ratios to Average Net Assets and Supplemental Data | | | | |
Net Assets, end of period ($ millions) | | | 655 | |
Ratio of expenses before fee waiver (%)(d) | | | 0.21 | * |
Ratio of expenses after fee waiver (%)(d) | | | 0.21 | * |
Ratio of net investment income (loss) (%) | | | 6.93 | * |
Portfolio turnover rate (%)(e) | | | 32 | ** |
| (a) | For the period October 27, 2023 (commencement of operations) through August 31, 2024. |
| (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) | Includes excise tax expense. Excluding this expense, the ratio of expenses would have been 0.20%. |
| (e) | Portfolio turnover rate does not include securities received or delivered from processing creations or redemptions. |
See Notes to Financial Statements.
DBX ETF Trust | 97
Financial Highlights (Continued)
Xtrackers USD High Yield Corporate Bond ETF
| | | | | | | | | | | | | | | | | | | | |
| | | Years Ended August 31, | |
| | | | | |
| | | 2024 | | | 2023 | | | 2022 | | | 2021 | | | 2020(a) | |
| | | | | |
Selected Per Share Data | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of year | | $ | 34.58 | | | $ | 34.37 | | | $ | 40.31 | | | $ | 39.06 | (a) | | $ | 40.19 | |
Income (loss) from investment operations: | | | | | | | | | | | | | | | | | | | | |
Net investment income (loss)(b) | | | 2.16 | | | | 1.94 | | | | 1.61 | | | | 1.70 | | | | 2.03 | (c) |
Net realized and unrealized gain (loss) | | | 1.91 | | | | 0.25 | | | | (5.80 | ) | | | 1.79 | | | | (0.95 | )(c) |
Total from investment operations | | | 4.07 | | | | 2.19 | | | | (4.19 | ) | | | 3.49 | | | | 1.08 | |
Less distributions from: | | | | | | | | | | | | | | | | | | | | |
Net investment income | | | (2.18 | ) | | | (1.98 | ) | | | (1.75 | ) | | | (2.24 | ) | | | (2.21 | ) |
Total from distributions | | | (2.18 | ) | | | (1.98 | ) | | | (1.75 | ) | | | (2.24 | ) | | | (2.21 | ) |
Net Asset Value, end of year | | $ | 36.47 | | | $ | 34.58 | | | $ | 34.37 | | | $ | 40.31 | | | $ | 39.06 | |
Total Return (%)(d) | | | 12.26 | | | | 6.63 | | | | (10.67 | ) | | | 8.31 | | | | 2.91 | |
| | | | | |
Ratios to Average Net Assets and Supplemental Data | | | | | | | | | | | | | | | | | | | | |
Net Assets, end of year ($ millions) | | | 3,603 | | | | 3,859 | | | | 3,615 | | | | 6,666 | | | | 6,209 | |
Ratio of expenses before fee waiver (%) | | | 0.19 | | | | 0.20 | | | | 0.20 | | | | 0.20 | | | | 0.20 | |
Ratio of expenses after fee waiver (%) | | | 0.07 | | | | 0.15 | | | | 0.15 | | | | 0.15 | | | | 0.15 | |
Ratio of net investment income (loss) (%) | | | 6.15 | | | | 5.69 | | | | 4.24 | | | | 4.27 | | | | 5.27 | (c) |
Portfolio turnover rate (%)(e) | | | 31 | | | | 26 | | | | 24 | | | | 37 | | | | 54 | |
| (a) | 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. |
| (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 $0.12, 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%. 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. |
See Notes to Financial Statements.
98 | DBX ETF Trust
Notes to Financial Statements
1. Organization
DBX ETF Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end registered management investment company organized as a Delaware statutory trust.
As of August 31, 2024, the Trust consists of thirty-nine 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 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 BB-B ex Financials 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”).
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 and Xtrackers USD High Yield Corporate Bond ETF offers shares that are listed and traded on the NYSE Arca, Inc. (“NYSE Arca”). Xtrackers USD High Yield BB-B ex Financials ETF offers shares that are listed and traded on the Cboe Bats BZX Exchange. Inc. (“Cboe”). Unlike conventional mutual funds, each Fund issues and redeems shares on a continuous basis, at net asset value (“NAV”), only in large specified lots consisting of 50,000 shares, 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 seek investment results that correspond generally to the performance, before fees and expenses, of a particular index (the “Underlying Index”). The underlying indices for the Funds are:
| | |
| Fund | | Underlying Index |
Xtrackers High Beta High Yield Bond ETF | | Solactive USD High Yield Corporates Total Market High Beta Index |
Xtrackers Low Beta High Yield Bond ETF | | Solactive USD High Yield Corporates Total Market Low Beta Index |
Xtrackers Risk Managed USD High Yield Strategy ETF | | 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 BB-B ex Financials ETF | | ICE BofA BB-B Non-FNCL Non-Distressed US HY Constrained 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 ICE BofA BB-B Non-FNCL Non-Distressed US HY Constrained Index is a subset of the ICE BofA US High Yield Index which is designed to track the performance of US dollar denominated below investment grade corporate debt publicly issued in the US domestic market. 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.
DBX ETF Trust | 99
Each Fund is entitled to use its respective Underlying Index pursuant to a licensing agreement between the Index Provider and DBX. There is no direct charge to the Funds in connection with these licensing agreements.
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 are diversified series of the Trust. Xtrackers Risk Managed USD High Yield Strategy ETF and Xtrackers USD High Yield BB-B ex Financials ETF are non-diversified and are not limited by the 1940 Act with regard to the percentage of its assets that may be invested in the securities of a single issuer. This means the securities of a particular issuer (or securities of issuers in particular industries) may dominate the Underlying Index of the Fund and, consequently, the Fund’s investment portfolio. This may adversely affect the Fund’s performance or subject the Fund’s shares to greater price volatility than that experienced by more diversified investment companies.
Pursuant to the Trust’s organizational documents, the Trust’s officers and trustees are indemnified against certain liabilities that may arise out of the performance of their duties to the Funds. Additionally, in the normal course of business the Trust enters into contracts that contain a variety of representations that provide indemnification for certain liabilities. The Trust’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Funds that have not yet occurred. However, the Trust expects the risk of loss to be remote.
2. Significant Accounting Policies
The financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”), which require management to make certain estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. Each Fund qualifies as an investment company under Topic 946 of the Accounting Standards Codification of U.S. GAAP. The following is a summary of significant accounting policies followed by the Funds.
Security Valuation The NAV of each Fund’s shares is calculated each business day as of the close of regular trading on the New York Stock Exchange, generally 4:00 p.m. Eastern Time. NAV per share is calculated by dividing a Fund’s net assets by the number of Fund shares outstanding.
The Funds’ Board has designated the Advisor as the valuation designee for the Funds pursuant to Rule 2a-5 under the 1940 Act. The Advisor’s Pricing Committee (the “Pricing Committee”) typically values securities using readily available market quotations or prices supplied by independent pricing services (which are considered fair values under Rule 2a-5). The Advisor has adopted fair valuation procedures that provide methodologies for fair valuing securities.
Various inputs are used in determining the value of the Funds’ investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, and credit risk). Level 3 includes significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
Corporate and sovereign debt securities are valued at prices supplied by independent pricing services approved by the Pricing Committee. Such services may use various pricing techniques which take into account appropriate factors such as yield, quality, coupon rate, maturity, type of issue, trading characteristics and other data, as well 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 Pricing Committee and are generally categorized as Level 3. In accordance with the Funds’ valuation procedures, factors considered in determining value may include, but are not limited to, the type of the security; the size of the holding; the initial cost of the security; the existence of any contractual restrictions on the security’s disposition; the price and extent of public trading in similar securities of the issuer or of comparable companies;
100 | DBX ETF Trust
quotations or evaluated prices from broker-dealers and/or pricing services; information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities); an analysis of the company’s or issuer’s financial statements; an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold; length of time of a halt in trading of the security; movement in the security’s proxy index; and with respect to debt securities, the maturity, coupon, creditworthiness, currency denomination and the movement of the market in which the security is normally traded. The value determined under these procedures may differ from published values for the same securities.
Fair value pricing could result in a difference between the prices used to calculate a Fund’s NAV and the prices used by the Fund’s Underlying Index, which in turn could result in a difference between the Fund’s performance and the performance of the Fund’s Underlying Index.
Disclosure about the classification of the fair value measurements is included in a table following the Fund’s Schedule of Investments.
Cash. Cash consists of cash held at banks and is on deposit with major financial institutions.
Investment Transactions and Investment Income. Investment transactions are recorded as of the date that the securities are purchased or sold (trade date). Realized gains and losses from the sale or disposition of securities 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. Distributions of income and capital gains from investments in affiliated funds are recorded on the ex-dividend date.
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.
The Funds file tax returns with the Internal Revenue Service, the State of New York, and various other states. Specific to U.S. federal and state taxes, generally, each of the tax years in the four-year period ended August 31, 2024 (or since the Fund’s inception if the Fund commenced operations less than four years prior to August 31, 2024), remains subject to examination by taxing authorities. Specific to foreign countries in which the applicable Funds invest, all open tax years remain subject to examination by taxing authorities in the respective jurisdictions. The open tax years vary by each jurisdiction in which each Fund invests.
The Funds recognize interest and penalties, if any, related to uncertain tax positions as income tax expense on the Statements of Operations. For the year ended August 31, 2024, the Funds did not incur any interest or penalties.
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As of August 31, 2024, the components of accumulated earnings (losses) on a tax basis were as follows:
| | | | | | | | | | | | | | | | |
| | | Undistributed
Ordinary Income* | | | Capital and Other Gains (Losses) | | | Unrealized
Appreciation
(Depreciation) | | | Total Accumulated
Earnings (Losses) | |
Xtrackers High Beta High Yield Bond ETF | | $ | 82,451 | | | $ | (12,029,109) | | | | $ (430,475) | | | | $ (12,377,133) | |
Xtrackers Low Beta High Yield Bond ETF | | | 968,497 | | | | (67,401,723) | | | | (417,793) | | | | (66,851,019) | |
Xtrackers Risk Managed USD High Yield Strategy ETF | | | 38,533 | | | | — | | | | (1,564,495) | | | | (1,525,962) | |
Xtrackers Short Duration High Yield Bond ETF | | | 718,627 | | | | (3,746,257) | | | | 825,787 | | | | (2,201,843) | |
Xtrackers USD High Yield BB-B ex Financials ETF | | | 4,924,632 | | | | (2,455,928) | | | | 18,665,277 | | | | 21,133,981 | |
Xtrackers USD High Yield Corporate Bond ETF | | | 20,306,870 | | | | (282,894,979) | | | | (154,612,666) | | | | (417,200,775) | |
| * | For tax purposes short-term capital gain distributions are considered ordinary income distributions. |
The tax character of dividends and distributions declared for the years ended August 31, 2024 and August 31, 2023 were as follows:
| | | | |
| | | Year Ended August 31, 2024 |
| |
| | | Ordinary Income* |
Xtrackers High Beta High Yield Bond ETF | | $ | 940,617 | |
Xtrackers Low Beta High Yield Bond ETF | | | 12,519,886 | |
Xtrackers Risk Managed USD High Yield Strategy ETF | | | 2,639,060 | |
Xtrackers Short Duration High Yield Bond ETF | | | 7,056,553 | |
Xtrackers USD High Yield BB-B ex Financials ETF | | | 27,841,510 | |
Xtrackers USD High Yield Corporate Bond ETF | | | 206,009,266 | |
| |
| | | Year Ended August 31, 2023 |
| |
| | | Ordinary Income* |
Xtrackers High Beta High Yield Bond ETF | | $ | 974,644 | |
Xtrackers Low Beta High Yield Bond ETF | | | 44,403,017 | |
Xtrackers Risk Managed USD High Yield Strategy ETF | | | 2,798,892 | |
Xtrackers Short Duration High Yield Bond ETF | | | 4,721,603 | |
Xtrackers USD High Yield Corporate Bond ETF | | | 218,918,420 | |
| * | For tax purposes short-term capital gain distributions are considered ordinary income distributions. |
At August 31, 2024, 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 | | $ | 2,967,939 | | | $ | 9,061,170 | | | $ | 12,029,109 | |
Xtrackers Low Beta High Yield Bond ETF | | | 35,140,341 | | | | 32,261,382 | | | | 67,401,723 | |
Xtrackers Short Duration High Yield Bond ETF | | | 1,062,717 | | | | 2,683,540 | | | | 3,746,257 | |
Xtrackers USD High Yield BB-B ex Financials ETF | | | 2,455,928 | | | | — | | | | 2,455,928 | |
Xtrackers USD High Yield Corporate Bond ETF | | | 36,642,174 | | | | 246,252,805 | | | | 282,894,979 | |
Capital losses incurred after October 31 (“post-October capital losses”) and late year ordinary losses incurred after December 31 within the taxable year are deemed to arise on the first business day of each Fund’s next taxable year. During the fiscal year ended August 31, 2024, the Funds had no post-October capital losses.
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For the fiscal year ended August 31, 2024, the effect of permanent “book/tax” reclassifications to the components of net assets are included below. These differences are primarily due to redemptions-in-kind and non-deductible excise tax expense.
| | | | | | | | |
| | | Distributable
earnings (loss) | | | Paid-In Capital | |
Xtrackers Low Beta High Yield Bond ETF | | $ | 129,967 | | | $ | (129,967) | |
Xtrackers Risk Managed USD High Yield Strategy ETF | | | 15,616 | | | | (15,616) | |
Xtrackers Short Duration High Yield Bond ETF | | | (223,894) | | | | 223,894 | |
Xtrackers USD High Yield BB-B ex Financials ETF | | | (1,505,298) | | | | 1,505,298 | |
Xtrackers USD High Yield Corporate Bond ETF | | | 75,307,221 | | | | (75,307,221) | |
As of August 31, 2024, 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 | | $ | 13,850,736 | | | $ | (430,475) | | | $ | 314,067 | | | $ | (744,542) | |
Xtrackers Low Beta High Yield Bond ETF | | | 224,523,341 | | | | (417,833) | | | | 3,534,130 | | | | (3,951,963) | |
Xtrackers Risk Managed USD High Yield Strategy ETF | | | 44,294,653 | | | | (1,564,495) | | | | — | | | | (1,564,495) | |
Xtrackers Short Duration High Yield Bond ETF | | | 105,852,809 | | | | 825,783 | | | | 2,589,929 | | | | (1,764,146) | |
Xtrackers USD High Yield BB-B ex Financials ETF | | | 648,241,430 | | | | 18,665,277 | | | | 19,635,637 | | | | (970,360) | |
Xtrackers USD High Yield Corporate Bond ETF | | | 3,959,594,570 | | | | (154,613,070) | | | | 36,262,269 | | | | (190,875,339) | |
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 August 31, 2024, 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. National Financial Services LLC (Fidelity Agency Lending) serves as securities lending agent for Xtrackers Risk Managed USD High Yield Strategy ETF and Xtrackers USD High Yield BB-B ex Financials ETF and lends securities to certain financial institutions under the terms of its securities lending agreements. Prior to September 27, 2023, the Bank of New York Mellon served as securities lending agent for the 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. Effective September 27, 2023, Deutsche Bank AG serves as securities lending agent for 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 and lends securities of the Funds to certain financial institutions under the terms of its 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 or liquid, unencumbered assets having a value at least equal to the value of the securities loaned. When the collateral falls below specified amounts, the securities lending agent will use its best effort to obtain additional collateral on the next business day to meet required amounts under the securities lending agreement. During the year ended August 31, 2024, the Funds invested the cash collateral, if any, into a joint trading account in affiliated money market funds, including DWS Government & Agency Securities Portfolio, managed by DWS Investment Management Americas, Inc. DWS Investment Management Americas, Inc. receives a management/
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administration fee (0.13% annualized effective rate as of August 31, 2024) on the cash collateral invested in DWS Government & Agency Securities Portfolio. The Funds receive compensation for lending their securities either in the form of fees or by earning interest on invested cash collateral, net of borrower rebates and fees paid to a securities lending agent. Either the Funds or the borrower may terminate the loan at any time and the borrower, after notice, is required to return borrowed securities within a standard time period. There may be risks of delay and costs in recovery of securities or even loss of rights in the collateral should the borrower of the securities fail financially. If the Funds are not able to recover securities lent, the Funds may sell the collateral and purchase a replacement investment in the market, incurring the risk that the value of the replacement security is greater than the value of the collateral. The Funds are also subject to all investment risks associated with the reinvestment of any cash collateral received, including, but not limited to, interest rate, credit and liquidity risk associated with such investments.
As of August 31, 2024, the Fund listed below had securities on loan. The value of the related collateral exceeded the value of the securities loaned at period end.
| | | | | | | | | | | | | | | | | | | | |
| Remaining Contractual Maturity of the Agreements, as of August 31, 2024 | | | | | | | | | |
| Securities Lending Transactions | | Overnight and Continuous | | | <30 Days | | | Between 30 & 90 Days | | | >90 Days | | | Total |
Xtrackers High Beta High Yield Bond ETF | | | | | | | | | | | | | | | | | | | | |
Corporate Bonds | | $ | 1,027,697 | | | $ | — | | | $ | — | | | $ | — | | | $ | 1,027,697 | |
Gross amount of recognized liabilities and cash collateral for securities lending transactions | | | | | | | | | | | $ | 1,027,697 | |
Xtrackers Low Beta High Yield Bond ETF | | | | | | | | | | | | | | | | | | | | |
Corporate Bonds | | $ | 4,418,701 | | | $ | — | | | $ | — | | | $ | — | | | $ | 4,418,701 | |
Gross amount of recognized liabilities and cash collateral for securities lending transactions | | | | | | | | | | | $ | 4,418,701 | |
Xtrackers Short Duration High Yield Bond ETF | | | | | | | | | | | | | | | | | | | | |
Corporate Bonds | | $ | 4,160,683 | | | $ | — | | | $ | — | | | $ | — | | | $ | 4,160,683 | |
Gross amount of recognized liabilities and cash collateral for securities lending transactions | | | | | | | | | | | $ | 4,160,683 | |
Xtrackers USD High Yield BB-B ex Financials ETF | | | | | | | | | | | | | | | | | | | | |
Corporate Bonds | | $ | 16,776,173 | | | $ | — | | | $ | — | | | $ | — | | | $ | 16,776,173 | |
Gross amount of recognized liabilities and cash collateral for securities lending transactions | | | | | | | | | | | $ | 16,776,173 | |
Xtrackers USD High Yield Corporate Bond ETF | | | | | | | | | | | | | | | | | | | | |
Corporate Bonds | | $ | 238,972,214 | | | $ | — | | | $ | — | | | $ | — | | | $ | 238,972,214 | |
Gross amount of recognized liabilities and cash collateral for securities lending transactions | | | | | | | | | | | $ | 238,972,214 | |
As of August 31, 2024, 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, an affiliated money market fund managed by DWS Investment Management Americas, Inc. (“DIMA”), also an indirect, wholly owned subsidiary of DWS Group GmbH & Co. KGaA. DWS Government Money Market Series 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 and seeks to maintain a stable net asset value. The Funds indirectly bear their proportionate share of the expenses of their investment in DWS Government Money Market Series. 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 DWS Government Money Market Series.
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.
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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, (through August 12, 2024 for Xtrackers High Beta High Yield Bond ETF, Xtrackers Low Beta High Yield Bond ETF and Xtrackers USD High Yield Corporate Bond ETF), 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 BB-B ex Financials ETF | | | 0.20% | |
Xtrackers USD High Yield Corporate Bond ETF | | | 0.20% | |
Effective August 13, 2024, for its investment advisory services to the Funds below, the Advisor was entitled to receive a 0.02 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 | | | 0.20% | |
Xtrackers Low Beta High Yield Bond ETF | | | 0.20% | |
Xtrackers USD High Yield Corporate Bond ETF | | | 0.05% | |
The Advisor for Xtrackers High Beta High Yield Bond ETF had contractually agreed, until August 12, 2024, 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 year ended August 31, 2024, the Advisor waived $17,187 of expenses to the Fund.
The Advisor for Xtrackers Low Beta High Yield Bond ETF had contractually agreed, until August 12, 2024, 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 year ended August 31, 2024, the Advisor waived $102,609 of expenses to the Fund.
The Advisor for Xtrackers Risk Managed USD High Yield Strategy ETF has contractually agreed, until December 22, 2026, to waive a portion of its management fees in an amount equal to the acquired fund’s fees and expenses attributable to the Fund’s investments in affiliated funds. For the year ended August 31, 2024, the Advisor waived $31,849 of the expenses of the Fund which were attributable to the Fund’s investments in affiliated funds.
For the period from September 1, 2023 through November 16, 2023 the Advisor for Xtrackers USD High Yield Corporate Bond ETF had contractually agreed, 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. Effective November 17, 2023 until August 12, 2024, the Advisor had contractually agreed 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 0.05% of the fund’s average daily net assets. For the year ended August 31, 2024, the Advisor waived $4,005,742 of expenses to the Fund.
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The Advisor for the Funds below has contractually agreed to waive a portion of its unitary advisory fee in an amount equal to the acquired fund’s fees and expenses attributable to the Funds’ investments in affiliated cash management vehicles. For the year ended year, the Advisor waived expenses of the Funds as follows:
| | | | |
| | | Expenses Waived |
Xtrackers High Beta High Yield Bond ETF | | $ | 130 | |
Xtrackers Low Beta High Yield Bond ETF | | | 2,703 | |
Xtrackers Risk Managed USD High Yield Strategy ETF | | | 318 | |
Xtrackers Short Duration High Yield Bond ETF | | | 1,316 | |
Xtrackers USD High Yield BB-B ex Financials ETF | | | 5,274 | |
Xtrackers USD High Yield Corporate Bond ETF | | | 34,295 | |
Out of the unitary advisory fee, the Advisor pays substantially all expenses of each Fund, including the cost of transfer 44036.00 agency, custody, fund administration, legal, audit and other services, and expenses of the Independent Trustees. Each Fund is responsible for the payment of interest expense, acquired fund fees and expenses, taxes, brokerage expenses, distribution fees or expenses, if any, litigation expenses and extraordinary expenses.
The Bank of New York Mellon, a wholly-owned subsidiary of The Bank of New York Mellon Corporation, serves as Administrator, Custodian, Accounting Agent and Transfer Agent for each Fund.
ALPS Distributors, Inc. (the “Distributor”) serves as the distributor of Creation Units for each Fund on an agency basis. The Distributor does not maintain a secondary market in shares of the Funds.
The Board of Trustees is currently comprised of three Independent Trustees. The Advisor paid retainer fees and attendance fees to each Independent Trustee; retainer fees to the Chairman of the Board of Trustees and 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).
Affiliated Securities Lending Agent Fees. Effective September 27, 2023, Deutsche Bank AG serves as securities lending agent for the funds listed below. For the year ended August 31, 2024, the Funds incurred securities lending agent fees to Deutsche Bank AG as follows:
| | | | |
| | | Securities Lending Agent Fees |
Xtrackers High Beta High Yield Bond ETF | | $ | 518 | |
Xtrackers Low Beta High Yield Bond ETF | | | 1,384 | |
Xtrackers Short Duration High Yield Bond ETF | | | 2,784 | |
Xtrackers USD High Yield Corporate Bond ETF | | | 123,331 | |
4. Investment Portfolio Transactions
For the year ended August 31, 2024, 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 | | $ | 6,157,401 | | | $ | 6,217,540 | |
Xtrackers Low Beta High Yield Bond ETF | | | 105,509,136 | | | | 107,729,737 | |
Xtrackers Short Duration High Yield Bond ETF | | | 56,028,658 | | | | 53,361,758 | |
Xtrackers USD High Yield BB-B ex Financials ETF | | | 155,096,598 | | | | 157,479,613 | |
Xtrackers USD High Yield Corporate Bond ETF | | | 1,045,382,633 | | | | 1,025,412,378 | |
For the year ended August 31, 2024, the cost of in-kind purchases and proceeds from in-kind sales were as follows:
| | | | | | | | |
| | | Purchases | | | Sales | |
Xtrackers Low Beta High Yield Bond ETF | | $ | 13,314,745 | | | $ | 24,731,898 | |
Xtrackers Risk Managed USD High Yield Strategy ETF | | | 2,259,368 | | | | 5,720,412 | |
Xtrackers Short Duration High Yield Bond ETF | | | 23,549,646 | | | | 11,109,883 | |
Xtrackers USD High Yield BB-B ex Financials ETF | | | 647,180,324 | | | | 26,456,853 | |
Xtrackers USD High Yield Corporate Bond ETF | | | 2,982,043,463 | | | | 3,401,278,190 | |
106 | DBX ETF Trust
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 year ended August 31, 2024, 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 | | $ | 1,025,535 | | | $ | 2,152,222 | | | $ | (343 | ) |
Xtrackers Low Beta High Yield Bond ETF | | | 2,152,222 | | | | 1,025,535 | | | | (43,297 | ) |
5. Fund Share Transactions
As of August 31, 2024, 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. Payments by Affiliates
During the year ended August 31, 2024, the Advisor and the securities lending agent, Deutsche Bank AG, agreed to reimburse the Funds and amounts below for securities lending income in connection to an operational delay with the lending agent transition (see Securities Lending note 2.)
The amounts reimbursed were less than 0.01% of the Funds’ average net assets, thus having no impact on the Funds’ total return.
| | | | |
| DBX Advisors LLC | | Amount |
Xtrackers Low Beta High Yield Bond ETF | | $ | 1,820 | |
Xtrackers Short Duration High Yield Bond ETF | | | 366 | |
Xtrackers USD High Yield Corporate Bond ETF | | | 29,215 | |
| |
| Deutsche Bank AG | | Amount |
Xtrackers Low Beta High Yield Bond ETF | | $ | 910 | |
Xtrackers Short Duration High Yield Bond ETF | | | 183 | |
Xtrackers USD High Yield Corporate Bond ETF | | | 14,608 | |
During the year ended August 31, 2024, Xtrackers USD High Yield Corporate Bond ETF was reimbursed by Deutsche Bank AG, the Fund’s securities lending agent, $2,709 for a loss on a trade executed incorrectly. The amount compensated was less than 0.01% of the Fund’s average net assets, thus having no impact on the Fund’s total return.
7. 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
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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.
8. 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. Each Fund may borrow money under this credit facility to the extent necessary for temporary or emergency purposes, including the funding of shareholder redemption requests, trade settlements, and as necessary to distribute to shareholders any income necessary to maintain each Funds’ status as a regulated investment company. Borrowings are charged an interest rate of 1.25% per annum plus the greater of the Federal Funds Effective Rate or the Secured Overnight Financing Rate plus .10%. Each Fund may borrow up to the lesser of 33 percent of its net assets as permitted by the 1940 Act or 25 percent of adjusted total net assets. The Fund had no outstanding loans at August 31, 2024.
108 | DBX ETF Trust
Report of Independent Registered Public Accounting Firm
To the Shareholders of
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 BB-B ex Financials ETF and Xtrackers USD High Yield Corporate Bond ETF and the Board of Trustees of DBX ETF Trust
Opinion on the Financial Statements
We have audited the accompanying statements of assets and liabilities of Xtrackers 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, and Xtrackers USD High Yield BB-B ex Financials ETF (collectively referred to as the “Funds”), (six of the funds constituting DBX ETF Trust (the “Trust”)), including the schedules of investments, as of August 31, 2024, and the related statements of operations and changes in net assets, and the financial highlights for each of the periods indicated in the table below and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds (six of the funds constituting DBX ETF Trust) at August 31, 2024, and the results of their operations, changes in net assets and financial highlights for each of the periods indicated in the table below, in conformity with U.S. generally accepted accounting principles.
| | | | | | |
| Individual fund constituting the DBX ETF Trust | | Statement of operations | | Statements of changes in net assets | | Financial highlights |
Xtrackers High Beta High Yield Bond ETF Xtrackers Low Beta High Yield Bond ETF Xtrackers Short Duration High Yield Bond ETF Xtrackers USD High Yield Corporate Bond ETF | | For the year ended August 31, 2024 | | For each of the two years in the period ended August 31, 2024 | | For each of the five years in the period ended August 31, 2024 |
| Xtrackers Risk Managed USD High Yield Strategy ETF | | For the year ended August 31, 2024 | | For each of the two years in the period ended August 31, 2024 | | For each of the two years in the period ended August 31, 2024 and the period from February 10, 2022 (commencement of operations) through August 31, 2022 |
| Xtrackers USD High Yield BB-B ex Financials ETF | | For the period from October 27, 2023 (commencement of operations) through August 31, 2024 |
Basis for Opinion
These financial statements are the responsibility of the Trust’s management. Our responsibility is to express an opinion on each of the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Trust in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Trust is not required to have, nor were we engaged to perform, an audit of the Trust’s internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Trust’s internal control over financial reporting. Accordingly, we express no such opinion.
DBX ETF Trust | 109
Report of Independent Registered Public Accounting Firm (Continued)
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of August 31, 2024, by correspondence with the custodian, brokers and others; when replies were not received from brokers and others, we performed other auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.
We have served as the auditor of one or more investment companies in the DWS family of funds since at least 1979, but we are unable to determine the specific year.
New York, New York
October 24, 2024
110 | DBX ETF Trust
Board Considerations in Approval of Investment Advisory Contracts (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 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 14-15, 2024 (the “February 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 Risk Managed USD High Yield Strategy ETF, Xtrackers Short Duration High Yield Bond ETF and Xtrackers USD High Yield Corporate Bond ETF (each a “Fund,” and collectively, the “Funds”). In addition, after discussions at the meeting of the Board of Trustees (“Board” or “Trustees”) held on May 8, 2024 (the “May Meeting”), the Trustees unanimously approved the continuance of the Investment Advisory Agreements for each Fund for a new annual period ending on May 31, 2025. The Independent Trustees were advised throughout the review and Meetings 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 February Meeting from DBX Advisors LLC (“DBX” or the “Advisor”) for purposes of reviewing the agreement’s terms, including statistical information prepared by Broadridge Financial Solutions Inc. (“Broadridge”) regarding (a) fee and expense information for each Fund (including the fee and expense components and any amounts waived or reimbursed) as compared to a peer group of other exchange-traded funds (“ETFs”) selected pursuant to Broadridge’s proprietary methodology (each, a “Peer Group”) and (b) each Fund’s tracking error as compared to its underlying index over the previous five years (or since inception, if shorter). The Independent Trustees met with representatives of the Advisor on February 14, 2024 to review financial reports and other information provided by the Advisor and inquire further with regard to the financial information provided, and asked questions of the Advisor during this meeting. The Independent Trustees also took into consideration the discussions they had with management before and during the Meeting and among themselves during their Executive Sessions held during the February Meeting and May Meeting including confirmation at the May Meeting from the Advisor that there had been no material changes to the information presented to the Board in connection with the approval of the Investment Advisory Agreement at the February Meeting.
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
DBX ETF Trust | 111
Board Considerations in Approval of Investment Advisory Contracts (Unaudited) (Continued)
such as portfolio management compliance services and the preparation and filing of certain reports on behalf of the Trust. The Board also considered, among other things, the professional experience, qualifications and performance of the senior management and key professional personnel of the Advisor, including portfolio management.
The Board considered that the Advisor provides, at its own expense, office facilities and equipment for use by the Funds and supervisory persons responsible for supervising and monitoring the Trust’s service providers. 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 Risk Managed USD High Yield Strategy ETF |
The Board considered, however, the following additional factors in connection with those Funds:
| | - | Xtrackers Risk Managed USD High Yield Strategy ETF’s advisory fees and total expenses were below the average and equal to 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.
112 | 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. The Board also acknowledged that the concept of economies of scale is a complex subject as to determining with a fair degree of certainty whether economies of scale exist, to what extent they exist, whether scale can result in additional expenses, and alternative ways advisers can share benefits of economies of scale.
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.
DBX ETF Trust | 113
Tax Information (Unaudited)
Form 1099-DIV and other year-end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisors.
114 | 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 Climate Action Equity ETF (USCA)
Xtrackers MSCI USA ESG Leaders Equity ETF (USSG)
Xtrackers Net Zero Pathway Paris Aligned US Equity ETF (USNZ)
Xtrackers RREEF Global Natural Resources ETF (NRES)
Table of Contents
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.
DBX ETF Trust | 1
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
COMMON STOCKS — 96.7% | | | | | | | | |
| | |
Brazil — 3.2% | | | | | | | | |
| | |
Ambev SA | | | 73,170 | | | | 166,152 | |
| | |
Atacadao SA* | | | 11,395 | | | | 18,048 | |
| | |
B3 SA — Brasil Bolsa Balcao | | | 87,546 | | | | 196,013 | |
| | |
Banco Bradesco SA | | | 17,101 | | | | 42,697 | |
| | |
Banco BTG Pactual S.A | | | 25,688 | | | | 161,296 | |
| | |
Banco do Brasil SA | | | 17,810 | | | | 88,432 | |
| | |
Banco Santander Brasil SA | | | 4,766 | | | | 26,425 | |
| | |
BB Seguridade Participacoes SA | | | 12,488 | | | | 80,992 | |
| | |
BRF SA* | | | 2,253 | | | | 10,435 | |
| | |
Caixa Seguridade Participacoes S/A | | | 11,226 | | | | 32,410 | |
| | |
CCR SA | | | 20,844 | | | | 48,767 | |
| | |
Centrais Eletricas Brasileiras SA | | | 19,564 | | | | 144,226 | |
| | |
Cia de Saneamento Basico do Estado de Sao Paulo | | | 3,481 | | | | 58,227 | |
| | |
Companhia Paranaense de Energia | | | 15,738 | | | | 26,066 | |
| | |
CPFL Energia SA | | | 46 | | | | 277 | |
| | |
Embraer SA* | | | 3,657 | | | | 30,240 | |
| | |
Energisa SA | | | 4,401 | | | | 36,765 | |
| | |
Engie Brasil Energia SA | | | 4,526 | | | | 36,091 | |
| | |
Equatorial Energia SA | | | 4,946 | | | | 29,868 | |
| | |
Hapvida Participacoes e Investimentos SA*, 144A | | | 55,286 | | | | 41,392 | |
| | |
Hypera SA | | | 8,237 | | | | 41,510 | |
| | |
Itau Unibanco Holding SA | | | 4,712 | | | | 26,467 | |
| | |
Klabin SA | | | 15,002 | | | | 57,192 | |
| | |
Localiza Rent a Car SA | | | 9,474 | | | | 69,207 | |
| | |
Localiza Rent a Car SA* | | | 85 | | | | 609 | |
| | |
Lojas Renner SA | | | 19,274 | | | | 57,890 | |
| | |
Multiplan Empreendimentos Imobiliarios SA | | | 7,613 | | | | 34,467 | |
| | |
Natura & Co. Holding SA | | | 9,809 | | | | 23,469 | |
| | |
NU Holdings Ltd.*, Class A | | | 30,977 | | | | 463,726 | |
| | |
Pagseguro Digital Ltd.*, Class A | | | 3,686 | | | | 40,804 | |
| | |
Porto Seguro SA | | | 1,295 | | | | 7,788 | |
| | |
Raia Drogasil SA | | | 22,247 | | | | 108,263 | |
| | |
Rede D’Or Sao Luiz SA, 144A | | | 17,488 | | | | 98,598 | |
| | |
Rumo SA | | | 21,848 | | | | 84,293 | |
| | |
Sendas Distribuidora SA* | | | 20,402 | | | | 34,476 | |
| | |
StoneCo Ltd.*, Class A | | | 4,892 | | | | 64,868 | |
| | |
Suzano SA | | | 11,810 | | | | 114,695 | |
| | |
Telefonica Brasil SA | | | 7,866 | | | | 71,989 | |
| | |
TIM SA | | | 16,504 | | | | 52,048 | |
| | |
TOTVS SA | | | 8,795 | | | | 46,543 | |
| | |
WEG SA | | | 12,375 | | | | 118,324 | |
| | |
XP, Inc., Series BDR | | | 3,548 | | | | 65,155 | |
| | |
XP, Inc., Class A | | | 3,160 | | | | 58,176 | |
| | |
(Cost $2,892,030) | | | | | | | 3,015,376 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Chile — 0.4% | | | | | | | | |
| | |
Banco de Chile | | | 455,832 | | | | 57,470 | |
| | |
Banco de Credito e Inversiones SA | | | 1,963 | | | | 59,924 | |
| | |
Banco Santander Chile | | | 693,485 | | | | 35,548 | |
| | |
Cencosud SA | | | 22,140 | | | | 44,671 | |
| | |
Cia Sud Americana de Vapores SA | | | 279,419 | | | | 16,919 | |
| | |
Empresas CMPC SA | | | 12,215 | | | | 21,022 | |
| | |
Enel Americas SA | | | 239,087 | | | | 25,528 | |
| | |
Falabella SA* | | | 13,113 | | | | 46,194 | |
| | |
Latam Airlines Group SA | | | 3,362,202 | | | | 43,307 | |
| | |
(Cost $287,355) | | | | | | | 350,583 | |
| | |
China — 24.9% | | | | | | | | |
| | |
360 Security Technology, Inc., Class A | | | 17,241 | | | | 17,029 | |
| | |
37 Interactive Entertainment Network Technology Group Co. Ltd., Class A | | | 4,998 | | | | 9,838 | |
| | |
3peak, Inc.*, Class A | | | 1,035 | | | | 11,647 | |
| | |
AAC Technologies Holdings, Inc. | | | 6,531 | | | | 27,755 | |
| | |
Accelink Technologies Co. Ltd., Class A | | | 1,795 | | | | 7,378 | |
| | |
ACM Research Shanghai, Inc., Class A | | | 1,043 | | | | 13,463 | |
| | |
Advanced Micro-Fabrication Equipment, Inc., China, Class A | | | 1,123 | | | | 21,400 | |
| | |
AECC Aero-Engine Control Co. Ltd., Class A | | | 172 | | | | 465 | |
| | |
Agricultural Bank of China Ltd., Class A | | | 55,453 | | | | 35,367 | |
| | |
Agricultural Bank of China Ltd., Class H | | | 277,227 | | | | 122,613 | |
| | |
Aier Eye Hospital Group Co. Ltd., Class A | | | 20,215 | | | | 27,668 | |
| | |
Air China Ltd.*, Class A | | | 4,250 | | | | 4,186 | |
| | |
Air China Ltd.*, Class H | | | 24,104 | | | | 10,321 | |
| | |
Aisino Corp., Class A | | | 7,414 | | | | 8,202 | |
| | |
Akeso, Inc.*, 144A | | | 7,146 | | | | 44,981 | |
| | |
Alibaba Group Holding Ltd. | | | 248,767 | | | | 2,597,568 | |
| | |
Amlogic Shanghai Co. Ltd., Class A | | | 1,840 | | | | 14,111 | |
| | |
Angang Steel Co. Ltd.*, Class A | | | 12,510 | | | | 3,583 | |
| | |
Angel Yeast Co. Ltd., Class A | | | 1,289 | | | | 5,686 | |
| | |
Anhui Expressway Co. Ltd., Class A | | | 7,000 | | | | 14,895 | |
| | |
Anhui Expressway Co. Ltd., Class H | | | 8,999 | | | | 10,637 | |
| | |
Anjoy Foods Group Co. Ltd., Class A | | | 391 | | | | 4,210 | |
| | |
Anker Innovations Technology Co. Ltd., Class A | | | 767 | | | | 6,827 | |
| | |
ANTA Sports Products Ltd. | | | 12,996 | | | | 127,954 | |
| | |
Apeloa Pharmaceutical Co. Ltd., Class A | | | 4,648 | | | | 9,746 | |
See Notes to Financial Statements.
2 | DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
APT Medical, Inc., Class A | | | 191 | | | | 9,303 | |
| | |
Asia – Potash International Investment Guangzhou Co. Ltd.*, Class A | | | 2,290 | | | | 5,613 | |
| | |
ASR Microelectronics Co. Ltd.*, Class A | | | 2,853 | | | | 13,031 | |
| | |
Asymchem Laboratories Tianjin Co. Ltd., Class A | | | 1,688 | | | | 15,165 | |
| | |
Asymchem Laboratories Tianjin Co. Ltd., Class H, 144A | | | 1,402 | | | | 7,459 | |
| | |
Autobio Diagnostics Co. Ltd., Class A | | | 1,606 | | | | 9,255 | |
| | |
Autohome, Inc., ADR | | | 1,589 | | | | 39,979 | |
| | |
Avary Holding Shenzhen Co. Ltd., Class A | | | 1,362 | | | | 6,880 | |
| | |
AVIC Industry-Finance Holdings Co. Ltd., Class A | | | 50,149 | | | | 15,851 | |
| | |
BAIC BluePark New Energy Technology Co. Ltd.*, Class A | | | 9,996 | | | | 9,464 | |
| | |
Baidu, Inc.*, ADR | | | 53 | | | | 4,485 | |
| | |
Baidu, Inc.*, Class A | | | 35,130 | | | | 373,575 | |
| | |
Bank of Beijing Co. Ltd., Class A | | | 21,761 | | | | 16,120 | |
| | |
Bank of Changsha Co. Ltd., Class A | | | 6,526 | | | | 6,639 | |
| | |
Bank of Chengdu Co. Ltd., Class A | | | 4,405 | | | | 8,658 | |
| | |
Bank of China Ltd., Class A | | | 32,308 | | | | 21,837 | |
| | |
Bank of China Ltd., Class H | | | 800,608 | | | | 363,334 | |
| | |
Bank of Chongqing Co. Ltd., Class A | | | 10,425 | | | | 10,018 | |
| | |
Bank of Chongqing Co. Ltd., Class H | | | 15,554 | | | | 9,850 | |
| | |
Bank of Communications Co. Ltd., Class A | | | 28,031 | | | | 28,122 | |
| | |
Bank of Communications Co. Ltd., Class H | | | 74,792 | | | | 54,173 | |
| | |
Bank of Guiyang Co. Ltd., Class A | | | 13,839 | | | | 9,842 | |
| | |
Bank of Hangzhou Co. Ltd., Class A | | | 9,551 | | | | 17,169 | |
| | |
Bank of Jiangsu Co. Ltd., Class A | | | 16,852 | | | | 18,476 | |
| | |
Bank of Nanjing Co. Ltd., Class A | | | 8,684 | | | | 12,155 | |
| | |
Bank of Ningbo Co. Ltd., Class A | | | 6,215 | | | | 17,758 | |
| | |
Bank of Shanghai Co. Ltd., Class A | | | 19,395 | | | | 19,376 | |
| | |
Bank of Suzhou Co. Ltd., Class A | | | 11,980 | | | | 11,850 | |
| | |
Bank of Zhengzhou Co. Ltd.*, Class A | | | 30,078 | | | | 7,385 | |
| | |
Baoshan Iron & Steel Co. Ltd., Class A | | | 4,105 | | | | 3,452 | |
| | |
BBMG Corp., Class A | | | 1,399 | | | | 265 | |
| | |
Beijing Capital Eco-Environment Protection Group Co. Ltd., Class A | | | 14,500 | | | | 5,688 | |
| | |
Beijing Compass Technology Development Co. Ltd.*, Class A | | | 2,700 | | | | 13,609 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Beijing Dabeinong Technology Group Co. Ltd., Class A | | | 6,942 | | | | 3,908 | |
| | |
Beijing E-Hualu Information Technology Co. Ltd.*, Class A | | | 5,239 | | | | 11,029 | |
| | |
Beijing Enlight Media Co. Ltd., Class A | | | 11,237 | | | | 11,289 | |
| | |
Beijing Kingsoft Office Software, Inc., Class A | | | 895 | | | | 23,011 | |
| | |
Beijing New Building Materials PLC, Class A | | | 830 | | | | 3,026 | |
| | |
Beijing Originwater Technology Co. Ltd., Class A | | | 9,958 | | | | 4,904 | |
| | |
Beijing Roborock Technology Co. Ltd., Class A | | | 158 | | | | 5,047 | |
| | |
Beijing Shiji Information Technology Co. Ltd., Class A | | | 18,874 | | | | 14,221 | |
| | |
Beijing Tiantan Biological Products Corp. Ltd., Class A | | | 4,070 | | | | 13,651 | |
| | |
Beijing Tong Ren Tang Co. Ltd. | | | 1,991 | | | | 9,881 | |
| | |
Beijing Ultrapower Software Co. Ltd., Class A | | | 7,944 | | | | 9,987 | |
| | |
Beijing United Information Technology Co. Ltd., Class A | | | 1,813 | | | | 5,045 | |
| | |
Beijing Wantai Biological Pharmacy Enterprise Co. Ltd., Class A | | | 1,444 | | | | 14,464 | |
| | |
Beijing-Shanghai High Speed Railway Co. Ltd., Class A | | | 54,152 | | | | 41,491 | |
| | |
Bethel Automotive Safety Systems Co. Ltd., Class A | | | 1,807 | | | | 9,485 | |
| | |
Betta Pharmaceuticals Co. Ltd., Class A | | | 3,020 | | | | 15,128 | |
| | |
BGI Genomics Co. Ltd., Class A | | | 2,549 | | | | 13,006 | |
| | |
Bilibili, Inc.*, Class Z | | | 5,030 | | | | 73,899 | |
| | |
Bloomage Biotechnology Corp. Ltd., Class A | | | 1,490 | | | | 10,575 | |
| | |
BOC International China Co. Ltd., Class A | | | 9,263 | | | | 11,659 | |
| | |
BOE Technology Group Co. Ltd., Class A | | | 15,318 | | | | 8,343 | |
| | |
BTG Hotels Group Co. Ltd., Class A | | | 4,771 | | | | 7,924 | |
| | |
BYD Co. Ltd., Class A | | | 800 | | | | 28,155 | |
| | |
BYD Co. Ltd., Class H | | | 8,481 | | | | 262,245 | |
| | |
By-health Co. Ltd., Class A | | | 2,852 | | | | 4,543 | |
| | |
Caida Securities Co. Ltd., Class A | | | 8,555 | | | | 6,917 | |
| | |
Caitong Securities Co. Ltd., Class A | | | 13,019 | | | | 11,977 | |
| | |
Cambricon Technologies Corp. Ltd.*, Class A | | | 707 | | | | 25,607 | |
| | |
Cathay Biotech, Inc., Class A | | | 1,902 | | | | 9,686 | |
| | |
CECEP Solar Energy Co. Ltd., Class A | | | 11,772 | | | | 6,993 | |
| | |
CECEP Wind-Power Corp., Class A | | | 24,744 | | | | 9,776 | |
| | |
CETC Cyberspace Security Technology Co. Ltd., Class A | | | 2,612 | | | | 4,600 | |
See Notes to Financial Statements.
DBX ETF Trust | 3
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
CGN Power Co. Ltd., Class A | | | 19,723 | | | | 13,303 | |
| | |
CGN Power Co. Ltd., Class H, 144A | | | 203,995 | | | | 83,163 | |
| | |
Changchun High-Tech Industry Group Co. Ltd., Class A | | | 1,256 | | | | 14,589 | |
| | |
Changjiang Securities Co. Ltd., Class A | | | 15,262 | | | | 10,660 | |
| | |
Changzhou Xingyu Automotive Lighting Systems Co. Ltd., Class A | | | 891 | | | | 14,672 | |
| | |
Chaozhou Three-Circle Group Co. Ltd., Class A | | | 3,663 | | | | 16,229 | |
| | |
Chengdu Xingrong Environment Co. Ltd., Class A | | | 11,200 | | | | 10,588 | |
| | |
Chengxin Lithium Group Co. Ltd., Class A | | | 3,361 | | | | 5,681 | |
| | |
Chifeng Jilong Gold Mining Co. Ltd., Class A | | | 3,343 | | | | 8,203 | |
| | |
China Baoan Group Co. Ltd., Class A | | | 6,278 | | | | 6,732 | |
| | |
China Cinda Asset Management Co. Ltd., Class H | | | 229,670 | | | | 18,549 | |
| | |
China CITIC Bank Corp. Ltd., Class A | | | 22,027 | | | | 19,115 | |
| | |
China CITIC Bank Corp. Ltd., Class H | | | 106,369 | | | | 61,500 | |
| | |
China Communications Services Corp. Ltd., Class H | | | 28,147 | | | | 14,398 | |
| | |
China Construction Bank Corp., Class A | | | 9,153 | | | | 9,725 | |
| | |
China Construction Bank Corp., Class H | | | 899,517 | | | | 636,549 | |
| | |
China Eastern Airlines Corp. Ltd.*, Class A | | | 8,262 | | | | 4,418 | |
| | |
China Eastern Airlines Corp. Ltd.*, Class H | | | 33,020 | | | | 8,466 | |
| | |
China Energy Engineering Corp. Ltd., Class A | | | 1,261 | | | | 379 | |
| | |
China Energy Engineering Corp. Ltd., Class H | | | 58,712 | | | | 6,247 | |
| | |
China Enterprise Co. Ltd., Class A | | | 26,453 | | | | 9,443 | |
| | |
China Everbright Bank Co. Ltd., Class A | | | 61,809 | | | | 26,688 | |
| | |
China Everbright Bank Co. Ltd., Class H | | | 63,877 | | | | 19,162 | |
| | |
China Feihe Ltd., 144A | | | 16,349 | | | | 8,782 | |
| | |
China Film Co. Ltd., Class A | | | 6,794 | | | | 9,529 | |
| | |
China Galaxy Securities Co. Ltd., Class A | | | 16,528 | | | | 25,957 | |
| | |
China Galaxy Securities Co. Ltd., Class H | | | 36,879 | | | | 19,526 | |
| | |
China Great Wall Securities Co. Ltd., Class A | | | 11,825 | | | | 11,263 | |
| | |
China Greatwall Technology Group Co. Ltd.*, Class A | | | 7,570 | | | | 8,577 | |
| | |
China Green Electricity Investment of Tianjin Co. Ltd., Class A | | | 12,600 | | | | 15,148 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
China International Capital Corp. Ltd., Class A | | | 5,265 | | | | 21,240 | |
| | |
China International Capital Corp. Ltd., Class H, 144A | | | 33,953 | | | | 36,432 | |
| | |
China Jushi Co. Ltd., Class A | | | 4,119 | | | | 5,818 | |
| | |
China Life Insurance Co. Ltd., Class H | | | 63,637 | | | | 96,430 | |
| | |
China Literature Ltd.*, 144A | | | 8,315 | | | | 26,329 | |
| | |
China Merchants Bank Co. Ltd., Class A | | | 14,978 | | | | 67,947 | |
| | |
China Merchants Bank Co. Ltd., Class H | | | 33,958 | | | | 140,831 | |
| | |
China Merchants Expressway Network & Technology Holdings Co. Ltd., Class A | | | 9,073 | | | | 15,414 | |
| | |
China Merchants Securities Co. Ltd., Class A | | | 11,339 | | | | 23,408 | |
| | |
China Merchants Securities Co. Ltd., Class H, 144A | | | 25,642 | | | | 19,428 | |
| | |
China Merchants Shekou Industrial Zone Holdings Co. Ltd., Class A | | | 11,120 | | | | 14,483 | |
| | |
China Minsheng Banking Corp. Ltd., Class A | | | 39,492 | | | | 19,114 | |
| | |
China Minsheng Banking Corp. Ltd., Class H | | | 74,353 | | | | 26,785 | |
| | |
China National Chemical Engineering Co. Ltd., Class A | | | 3,498 | | | | 3,386 | |
| | |
China National Medicines Corp. Ltd., Class A | | | 618 | | | | 2,567 | |
| | |
China National Nuclear Power Co. Ltd., Class A | | | 9,300 | | | | 14,356 | |
| | |
China National Software & Service Co. Ltd.*, Class A | | | 2,962 | | | | 12,877 | |
| | |
China Pacific Insurance Group Co. Ltd., Class A | | | 1,942 | | | | 8,122 | |
| | |
China Pacific Insurance Group Co. Ltd., Class H | | | 19,113 | | | | 49,863 | |
| | |
China Railway Signal & Communication Corp. Ltd., Class A | | | 601 | | | | 441 | |
| | |
China Railway Signal & Communication Corp. Ltd., Class H, 144A | | | 21,369 | | | | 7,725 | |
| | |
China Rare Earth Resources And Technology Co. Ltd., Class A | | | 4,493 | | | | 14,074 | |
| | |
China Resources Double Crane Pharmaceutical Co. Ltd., Class A | | | 4,700 | | | | 13,662 | |
| | |
China Resources Microelectronics Ltd., Class A | | | 2,100 | | | | 10,285 | |
| | |
China Resources Mixc Lifestyle Services Ltd., 144A | | | 11,634 | | | | 38,629 | |
| | |
China Resources Pharmaceutical Group Ltd., 144A | | | 13,017 | | | | 9,178 | |
| | |
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd., Class A | | | 2,862 | | | | 18,144 | |
See Notes to Financial Statements.
4 | DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
China Science Publishing & Media Ltd., Class A | | | 2,992 | | | | 7,215 | |
| | |
China South Publishing & Media Group Co. Ltd., Class A | | | 4,363 | | | | 7,782 | |
| | |
China Southern Airlines Co. Ltd.*, Class A | | | 490 | | | | 394 | |
| | |
China Southern Airlines Co. Ltd.*, Class H | | | 14,732 | | | | 5,175 | |
| | |
China Three Gorges Renewables Group Co. Ltd., Class A | | | 33,874 | | | | 21,843 | |
| | |
China Tourism Group Duty Free Corp. Ltd., Class A | | | 2,854 | | | | 24,569 | |
| | |
China Tourism Group Duty Free Corp. Ltd., Class H, 144A | | | 1,973 | | | | 11,572 | |
| | |
China Tower Corp. Ltd., Class H, 144A | | | 432,372 | | | | 53,212 | |
| | |
China United Network Communications Ltd., Class A | | | 24,471 | | | | 16,022 | |
| | |
China Vanke Co. Ltd.*, Class A | | | 9,262 | | | | 8,835 | |
| | |
China Vanke Co. Ltd.*, Class H | | | 39,643 | | | | 20,888 | |
| | |
China World Trade Center Co. Ltd., Class A | | | 3,200 | | | | 9,712 | |
| | |
China Yangtze Power Co. Ltd., Class A | | | 31,176 | | | | 129,244 | |
| | |
China Zhenhua Group Science & Technology Co. Ltd., Class A | | | 1,617 | | | | 8,606 | |
| | |
China Zheshang Bank Co. Ltd., Class A | | | 30,900 | | | | 11,423 | |
| | |
China Zheshang Bank Co. Ltd., Class H | | | 77,183 | | | | 20,383 | |
| | |
Chinalin Securities Co. Ltd., Class A | | | 4,025 | | | | 5,378 | |
| | |
Chinese Universe Publishing and Media Group Co. Ltd., Class A | | | 5,900 | | | | 11,472 | |
| | |
Chongqing Brewery Co. Ltd., Class A | | | 613 | | | | 4,811 | |
| | |
Chongqing Rural Commercial Bank Co. Ltd., Class A | | | 10,079 | | | | 7,097 | |
| | |
Chongqing Rural Commercial Bank Co. Ltd., Class H | | | 39,833 | | | | 19,405 | |
| | |
Chongqing Taiji Industry Group Co. Ltd., Class A | | | 1,398 | | | | 4,464 | |
| | |
Chongqing Water Group Co. Ltd., Class A | | | 8,800 | | | | 5,886 | |
| | |
Chongqing Zhifei Biological Products Co. Ltd., Class A | | | 4,072 | | | | 13,244 | |
| | |
Chow Tai Seng Jewellery Co. Ltd., Class A | | | 5,800 | | | | 8,904 | |
| | |
CITIC Securities Co. Ltd., Class A | | | 15,138 | | | | 41,204 | |
| | |
CITIC Securities Co. Ltd., Class H | | | 36,826 | | | | 55,614 | |
| | |
CNGR Advanced Material Co. Ltd., Class A | | | 98 | | | | 400 | |
| | |
CNPC Capital Co. Ltd., Class A | | | 458 | | | | 337 | |
| | |
Contemporary Amperex Technology Co. Ltd., Class A | | | 209 | | | | 5,436 | |
| | |
COSCO SHIPPING Development Co. Ltd., Class A | | | 14,838 | | | | 4,941 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
COSCO SHIPPING Development Co. Ltd., Class H | | | 89,041 | | | | 10,730 | |
| | |
COSCO SHIPPING Holdings Co. Ltd., Class A | | | 248 | | | | 438 | |
| | |
Country Garden Holdings Co. Ltd.* (a) | | | 1,231,515 | | | | 76,571 | |
| | |
Country Garden Services Holdings Co. Ltd. | | | 12,109 | | | | 6,939 | |
| | |
CRRC Corp. Ltd., Class A | | | 4,663 | | | | 4,698 | |
| | |
CSC Financial Co. Ltd., Class A | | | 5,801 | | | | 15,732 | |
| | |
CSC Financial Co. Ltd., Class H, 144A | | | 33,237 | | | | 22,498 | |
| | |
CSPC Innovation Pharmaceutical Co. Ltd., Class A | | | 4,300 | | | | 14,707 | |
| | |
CSSC Science & Technology Co. Ltd., Class A | | | 5,500 | | | | 8,770 | |
| | |
DaShenLin Pharmaceutical Group Co. Ltd., Class A | | | 5,053 | | | | 9,633 | |
| | |
DHC Software Co. Ltd., Class A | | | 12,926 | | | | 8,299 | |
| | |
Do-Fluoride New Materials Co. Ltd., Class A | | | 2,412 | | | | 3,397 | |
| | |
Dong-E-E-Jiao Co. Ltd., Class A | | | 1,825 | | | | 12,842 | |
| | |
Dongfeng Motor Group Co. Ltd.*, Class H | | | 12,517 | | | | 3,370 | |
| | |
Dongxing Securities Co. Ltd., Class A | | | 11,646 | | | | 13,442 | |
| | |
East Buy Holding Ltd.*, 144A | | | 10,624 | | | | 17,706 | |
| | |
East Money Information Co. Ltd., Class A | | | 24,578 | | | | 37,455 | |
| | |
Eastroc Beverage Group Co. Ltd., Class A | | | 763 | | | | 24,540 | |
| | |
Easyhome New Retail Group Co. Ltd., Class A | | | 20,130 | | | | 7,328 | |
| | |
Ecovacs Robotics Co. Ltd., Class A | | | 953 | | | | 5,402 | |
| | |
Edifier Technology Co. Ltd., Class A | | | 4,400 | | | | 6,457 | |
| | |
Empyrean Technology Co. Ltd., Class A | | | 1,600 | | | | 16,686 | |
| | |
ENN Energy Holdings Ltd. | | | 1,912 | | | | 12,476 | |
| | |
Eoptolink Technology, Inc. Ltd., Class A | | | 1,100 | | | | 14,557 | |
| | |
Everbright Securities Co. Ltd., Class A | | | 8,182 | | | | 16,960 | |
| | |
Everbright Securities Co. Ltd., Class H, 144A | | | 25,651 | | | | 16,771 | |
| | |
Everdisplay Optronics Shanghai Co. Ltd.*, Class A | | | 35,000 | | | | 10,420 | |
| | |
Fangda Carbon New Material Co. Ltd., Class A | | | 6,320 | | | | 3,683 | |
| | |
First Capital Securities Co. Ltd., Class A | | | 15,763 | | | | 11,677 | |
| | |
Focus Media Information Technology Co. Ltd., Class A | | | 18,500 | | | | 14,958 | |
| | |
Foshan Haitian Flavouring & Food Co. Ltd., Class A | | | 3,838 | | | | 20,038 | |
| | |
Founder Securities Co. Ltd., Class A | | | 13,774 | | | | 13,508 | |
See Notes to Financial Statements.
DBX ETF Trust | 5
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Foxconn Industrial Internet Co. Ltd., Class A | | | 6,163 | | | | 17,801 | |
| | |
Fujian Sunner Development Co. Ltd., Class A | | | 196 | | | | 337 | |
| | |
Full Truck Alliance Co. Ltd., ADR | | | 10,723 | | | | 77,742 | |
| | |
Fuyao Glass Industry Group Co. Ltd., Class A | | | 1,270 | | | | 8,582 | |
| | |
Fuyao Glass Industry Group Co. Ltd., Class H, 144A | | | 6,976 | | | | 39,842 | |
| | |
GalaxyCore, Inc., Class A | | | 8,330 | | | | 12,953 | |
| | |
Gan & Lee Pharmaceuticals Co. Ltd., Class A | | | 1,917 | | | | 11,055 | |
| | |
Ganfeng Lithium Group Co. Ltd., Class A | | | 844 | | | | 3,255 | |
| | |
Ganfeng Lithium Group Co. Ltd., Class H, 144A | | | 3,571 | | | | 7,929 | |
| | |
G-bits Network Technology Xiamen Co. Ltd., Class A | | | 578 | | | | 15,773 | |
| | |
GDS Holdings Ltd.*, Class A | | | 7,205 | | | | 15,351 | |
| | |
GEM Co. Ltd., Class A | | | 518 | | | | 436 | |
| | |
Gemdale Corp., Class A | | | 13,308 | | | | 6,610 | |
| | |
Genscript Biotech Corp.* | | | 23,023 | | | | 34,887 | |
| | |
GF Securities Co. Ltd., Class A | | | 9,756 | | | | 16,299 | |
| | |
GF Securities Co. Ltd., Class H | | | 31,613 | | | | 25,330 | |
| | |
Giant Biogene Holding Co. Ltd., 144A | | | 5,923 | | | | 31,322 | |
| | |
Giant Network Group Co. Ltd., Class A | | | 5,031 | | | | 6,779 | |
| | |
GigaDevice Semiconductor, Inc.*, Class A | | | 808 | | | | 8,252 | |
| | |
Ginlong Technologies Co. Ltd., Class A | | | 1,072 | | | | 9,015 | |
| | |
Glodon Co. Ltd., Class A | | | 11,079 | | | | 16,196 | |
| | |
GoerTek, Inc., Class A | | | 180 | | | | 539 | |
| | |
Goldwind Science & Technology Co. Ltd., Class A | | | 3,125 | | | | 3,642 | |
| | |
Goldwind Science & Technology Co. Ltd., Class H | | | 6,983 | | | | 4,046 | |
| | |
GoodWe Technologies Co. Ltd., Class A | | | 901 | | | | 6,096 | |
| | |
Gree Electric Appliances, Inc. of Zhuhai, Class A | | | 3,760 | | | | 21,063 | |
| | |
Greenland Holdings Corp. Ltd.*, Class A | | | 19,349 | | | | 3,850 | |
| | |
Greentown China Holdings Ltd. | | | 21,980 | | | | 17,414 | |
| | |
GRG Banking Equipment Co. Ltd., Class A | | | 4,595 | | | | 6,108 | |
| | |
Guangdong Haid Group Co. Ltd., Class A | | | 106 | | | | 579 | |
| | |
Guangdong Provincial Expressway Development Co. Ltd., Class A | | | 7,300 | | | | 11,372 | |
| | |
Guangzhou Automobile Group Co. Ltd., Class H | | | 7,161 | | | | 2,286 | |
| | |
Guangzhou Baiyun International Airport Co. Ltd., Class A | | | 10,307 | | | | 13,278 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class A | | | 696 | | | | 2,827 | |
| | |
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class H | | | 3,231 | | | | 8,052 | |
| | |
Guangzhou Haige Communications Group, Inc. Co., Class A | | | 12,182 | | | | 15,556 | |
| | |
Guangzhou Kingmed Diagnostics Group Co. Ltd., Class A | | | 1,371 | | | | 5,322 | |
| | |
Guangzhou Port Co. Ltd., Class A | | | 21,192 | | | | 9,300 | |
| | |
Guangzhou Shiyuan Electronic Technology Co. Ltd., Class A | | | 952 | | | | 4,227 | |
| | |
Guangzhou Tinci Materials Technology Co. Ltd., Class A | | | 2,374 | | | | 4,807 | |
| | |
Guangzhou Yuexiu Capital Holdings Group Co. Ltd., Class A | | | 14,772 | | | | 10,422 | |
| | |
Guolian Securities Co. Ltd., Class A | | | 9,302 | | | | 12,679 | |
| | |
Guolian Securities Co. Ltd., Class H | | | 54,346 | | | | 19,856 | |
| | |
Guosen Securities Co. Ltd., Class A (a) | | | 11,558 | | | | 14,743 | |
| | |
Guotai Junan Securities Co. Ltd., Class A | | | 8,222 | | | | 17,124 | |
| | |
Guotai Junan Securities Co. Ltd., Class H, 144A | | | 21,213 | | | | 22,544 | |
| | |
Guoyuan Securities Co. Ltd., Class A | | | 13,895 | | | | 12,450 | |
| | |
H World Group Ltd., ADR | | | 2,110 | | | | 64,228 | |
| | |
Haidilao International Holding Ltd., 144A | | | 18,963 | | | | 31,895 | |
| | |
Haier Smart Home Co. Ltd., Class A | | | 1,200 | | | | 4,187 | |
| | |
Haier Smart Home Co. Ltd., Class H | | | 18,166 | | | | 56,009 | |
| | |
Hainan Airlines Holding Co. Ltd.*, Class A | | | 41,902 | | | | 6,267 | |
| | |
Hainan Airport Infrastructure Co. Ltd.*, Class A | | | 27,715 | | | | 12,358 | |
| | |
Haisco Pharmaceutical Group Co. Ltd., Class A | | | 3,308 | | | | 14,563 | |
| | |
Haitian International Holdings Ltd. | | | 4,512 | | | | 12,610 | |
| | |
Haitong Securities Co. Ltd., Class A | | | 12,743 | | | | 15,499 | |
| | |
Haitong Securities Co. Ltd., Class H | | | 56,710 | | | | 25,227 | |
| | |
Hangjin Technology Co. Ltd., Class A | | | 3,900 | | | | 8,662 | |
| | |
Hangzhou Binjiang Real Estate Group Co. Ltd., Class A | | | 10,784 | | | | 12,812 | |
| | |
Hangzhou Chang Chuan Technology Co. Ltd., Class A | | | 2,614 | | | | 11,268 | |
See Notes to Financial Statements.
6 | DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Hangzhou First Applied Material Co. Ltd., Class A | | | 6,219 | | | | 13,505 | |
| | |
Hangzhou Great Star Industrial Co. Ltd., Class A | | | 2,243 | | | | 8,463 | |
| | |
Hangzhou Lion Microelectronics Co. Ltd., Class A | | | 2,651 | | | | 7,362 | |
| | |
Hangzhou Oxygen Plant Group Co. Ltd., Class A | | | 1,474 | | | | 3,771 | |
| | |
Hangzhou Robam Appliances Co. Ltd., Class A | | | 1,270 | | | | 3,321 | |
| | |
Hangzhou Silan Microelectronics Co. Ltd.*, Class A | | | 3,796 | | | | 10,134 | |
| | |
Hangzhou Tigermed Consulting Co. Ltd., Class A | | | 1,756 | | | | 12,604 | |
| | |
Hangzhou Tigermed Consulting Co. Ltd., Class H, 144A | | | 4,189 | | | | 15,815 | |
| | |
Hansoh Pharmaceutical Group Co. Ltd., 144A | | | 20,316 | | | | 51,985 | |
| | |
Haohua Chemical Science & Technology Co. Ltd., Class A | | | 1,277 | | | | 4,849 | |
| | |
Hebei Yangyuan Zhihui Beverage Co. Ltd., Class A | | | 3,424 | | | | 8,962 | |
| | |
Hefei Meiya Optoelectronic Technology, Inc., Class A | | | 1,766 | | | | 3,224 | |
| | |
Heilongjiang Agriculture Co. Ltd., Class A | | | 4,171 | | | | 7,586 | |
| | |
Hengan International Group Co. Ltd. | | | 1,055 | | | | 3,388 | |
| | |
Hengdian Group DMEGC Magnetics Co. Ltd., Class A | | | 1,530 | | | | 2,606 | |
| | |
Hengtong Optic-electric Co. Ltd., Class A | | | 2,782 | | | | 5,551 | |
| | |
Hithink RoyalFlush Information Network Co. Ltd., Class A | | | 1,410 | | | | 20,475 | |
| | |
HLA Group Corp. Ltd., Class A | | | 6,000 | | | | 5,037 | |
| | |
Hongta Securities Co. Ltd., Class A | | | 11,263 | | | | 10,505 | |
| | |
Hoshine Silicon Industry Co. Ltd., Class A | | | 1,446 | | | | 10,169 | |
| | |
Hoymiles Power Electronics, Inc., Class A | | | 884 | | | | 16,509 | |
| | |
Hoyuan Green Energy Co. Ltd., Class A | | | 116 | | | | 230 | |
| | |
Hua Hong Semiconductor Ltd., 144A | | | 11,529 | | | | 25,126 | |
| | |
Huaan Securities Co. Ltd., Class A | | | 18,581 | | | | 11,825 | |
| | |
Huadong Medicine Co. Ltd., Class A | | | 2,489 | | | | 10,354 | |
| | |
Huafon Chemical Co. Ltd., Class A | | | 4,285 | | | | 4,480 | |
| | |
Huagong Tech Co. Ltd., Class A | | | 2,477 | | | | 10,447 | |
| | |
Hualan Biological Engineering, Inc., Class A | | | 4,595 | | | | 9,771 | |
| | |
Huali Industrial Group Co. Ltd., Class A | | | 457 | | | | 4,172 | |
| | |
Huaneng Lancang River Hydropower, Inc., Class A | | | 12,240 | | | | 18,981 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Huatai Securities Co. Ltd., Class A | | | 8,839 | | | | 15,690 | |
| | |
Huatai Securities Co. Ltd., Class H, 144A | | | 24,820 | | | | 27,332 | |
| | |
Huaxi Securities Co. Ltd., Class A | | | 11,350 | | | | 10,410 | |
| | |
Huaxia Bank Co. Ltd., Class A | | | 16,963 | | | | 14,409 | |
| | |
Huaxia Eye Hospital Group Co. Ltd., Class A | | | 4,800 | | | | 11,622 | |
| | |
Hubei Feilihua Quartz Glass Co. Ltd., Class A | | | 2,263 | | | | 10,058 | |
| | |
Huizhou Desay Sv Automotive Co. Ltd., Class A | | | 584 | | | | 7,514 | |
| | |
Humanwell Healthcare Group Co. Ltd., Class A | | | 3,342 | | | | 9,455 | |
| | |
Hundsun Technologies, Inc., Class A | | | 6,414 | | | | 14,779 | |
| | |
Hygeia Healthcare Holdings Co. Ltd.*, 144A | | | 8,157 | | | | 20,475 | |
| | |
Hygon Information Technology Co. Ltd., Class A | | | 2,896 | | | | 32,442 | |
| | |
IEIT Systems Co. Ltd., Class A | | | 1,700 | | | | 7,767 | |
| | |
Iflytek Co. Ltd., Class A | | | 4,459 | | | | 21,638 | |
| | |
Imeik Technology Development Co. Ltd., Class A | | | 848 | | | | 17,345 | |
| | |
Industrial & Commercial Bank of China Ltd., Class A | | | 40,790 | | | | 34,419 | |
| | |
Industrial & Commercial Bank of China Ltd., Class H | | | 659,378 | | | | 379,546 | |
| | |
Industrial Bank Co. Ltd., Class A | | | 14,845 | | | | 34,583 | |
| | |
Industrial Securities Co. Ltd., Class A | | | 17,053 | | | | 12,440 | |
| | |
Ingenic Semiconductor Co. Ltd., Class A | | | 1,859 | | | | 12,245 | |
| | |
Inner Mongolia Yili Industrial Group Co. Ltd., Class A | | | 1,811 | | | | 5,783 | |
| | |
Innovation New Material Technology Co. Ltd., Class A | | | 18,300 | | | | 10,380 | |
| | |
Innovent Biologics, Inc.*, 144A | | | 21,484 | | | | 116,917 | |
| | |
iQIYI, Inc.*, ADR | | | 8,924 | | | | 19,187 | |
| | |
Isoftstone Information Technology Group Co. Ltd., Class A | | | 2,237 | | | | 10,742 | |
| | |
J&T Global Express Ltd.* | | | 80,210 | | | | 62,108 | |
| | |
Jafron Biomedical Co. Ltd., Class A | | | 3,595 | | | | 12,722 | |
| | |
Jason Furniture Hangzhou Co. Ltd., Class A | | | 1,005 | | | | 3,412 | |
| | |
JCHX Mining Management Co. Ltd., Class A | | | 900 | | | | 5,186 | |
| | |
JD Health International, Inc.*, 144A | | | 21,027 | | | | 63,482 | |
| | |
JD Logistics, Inc.*, 144A | | | 20,302 | | | | 24,856 | |
| | |
JD.com, Inc., Class A | | | 22,929 | | | | 315,111 | |
| | |
Jiangsu Changshu Rural Commercial Bank Co. Ltd., Class A | | | 8,700 | | | | 7,930 | |
See Notes to Financial Statements.
DBX ETF Trust | 7
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Jiangsu Eastern Shenghong Co. Ltd., Class A | | | 3,177 | | | | 3,492 | |
| | |
Jiangsu Financial Leasing Co. Ltd., Class A | | | 21,600 | | | | 13,959 | |
| | |
Jiangsu Hengrui Pharmaceuticals Co. Ltd., Class A | | | 8,568 | | | | 53,352 | |
| | |
Jiangsu Nhwa Pharmaceutical Co. Ltd., Class A | | | 3,025 | | | | 10,872 | |
| | |
Jiangsu Pacific Quartz Co. Ltd., Class A | | | 3,500 | | | | 12,100 | |
| | |
Jiangsu Phoenix Publishing & Media Corp. Ltd., Class A | | | 3,757 | | | | 5,635 | |
| | |
Jiangsu Yangnong Chemical Co. Ltd., Class A | | | 91 | | | | 650 | |
| | |
Jiangsu Yoke Technology Co. Ltd., Class A | | | 764 | | | | 6,012 | |
| | |
Jiangsu Yuyue Medical Equipment & Supply Co. Ltd., Class A | | | 2,430 | | | | 11,342 | |
| | |
Jiangxi Special Electric Motor Co. Ltd.*, Class A | | | 3,270 | | | | 3,138 | |
| | |
Jinduicheng Molybdenum Co. Ltd., Class A | | | 5,400 | | | | 7,521 | |
| | |
Jinko Solar Co. Ltd., Class A | | | 4,127 | | | | 4,187 | |
| | |
Joincare Pharmaceutical Group Industry Co. Ltd., Class A | | | 5,900 | | | | 8,333 | |
| | |
Jonjee Hi-Tech Industrial And Commercial Holding Co. Ltd., Class A | | | 1,085 | | | | 2,690 | |
| | |
Juneyao Airlines Co. Ltd., Class A | | | 2,723 | | | | 4,031 | |
| | |
J-Yuan Trust Co. Ltd.*, Class A | | | 44,500 | | | | 15,761 | |
| | |
Kanzhun Ltd., ADR | | | 3,983 | | | | 49,628 | |
| | |
KE Holdings, Inc., ADR | | | 8,425 | | | | 125,027 | |
| | |
Keda Industrial Group Co. Ltd., Class A | | | 212 | | | | 210 | |
| | |
Kingdee International Software Group Co. Ltd.* | | | 55,995 | | | | 44,291 | |
| | |
Kingnet Network Co. Ltd., Class A | | | 6,334 | | | | 8,294 | |
| | |
Kingsoft Corp. Ltd. | | | 19,484 | | | | 53,578 | |
| | |
Kuaishou Technology*, 144A | | | 27,169 | | | | 140,366 | |
| | |
Kuang-Chi Technologies Co. Ltd.*, Class A | | | 6,511 | | | | 16,032 | |
| | |
Kunlun Tech Co. Ltd., Class A | | | 2,908 | | | | 11,145 | |
| | |
LB Group Co. Ltd., Class A | | | 637 | | | | 1,465 | |
| | |
Lenovo Group Ltd. | | | 128,276 | | | | 157,706 | |
| | |
Lens Technology Co. Ltd., Class A | | | 185 | | | | 459 | |
| | |
Lepu Medical Technology Beijing Co. Ltd., Class A | | | 4,446 | | | | 6,292 | |
| | |
Li Auto, Inc.*, Class A | | | 19,335 | | | | 195,447 | |
| | |
Li Ning Co. Ltd. | | | 22,692 | | | | 42,647 | |
| | |
Liaoning Port Co. Ltd., Class A | | | 36,147 | | | | 6,325 | |
| | |
Livzon Pharmaceutical Group, Inc., Class A | | | 1,010 | | | | 5,125 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Livzon Pharmaceutical Group, Inc., Class H | | | 3,223 | | | | 10,247 | |
| | |
Longfor Group Holdings Ltd., 144A | | | 38,641 | | | | 43,642 | |
| | |
LONGi Green Energy Technology Co. Ltd., Class A | | | 6,060 | | | | 11,809 | |
| | |
Lufax Holding Ltd., ADR | | | 3,528 | | | | 8,009 | |
| | |
Luxshare Precision Industry Co. Ltd., Class A | | | 4,911 | | | | 27,316 | |
| | |
Mango Excellent Media Co. Ltd., Class A | | | 4,030 | | | | 11,009 | |
| | |
Maxscend Microelectronics Co. Ltd., Class A | | | 1,474 | | | | 13,800 | |
| | |
MeiHua Holdings Group Co. Ltd., Class A | | | 4,932 | | | | 6,688 | |
| | |
Meinian Onehealth Healthcare Holdings Co. Ltd., Class A | | | 13,923 | | | | 6,817 | |
| | |
Meituan*, Class B, 144A | | | 72,757 | | | | 1,102,492 | |
| | |
Metallurgical Corp. of China Ltd., Class A | | | 902 | | | | 375 | |
| | |
Metallurgical Corp. of China Ltd., Class H | | | 17,693 | | | | 3,107 | |
| | |
Midea Group Co. Ltd., Class A | | | 3,800 | | | | 34,718 | |
| | |
Ming Yang Smart Energy Group Ltd., Class A | | | 5,010 | | | | 6,454 | |
| | |
MINISO Group Holding Ltd. | | | 8,096 | | | | 34,147 | |
| | |
Minmetals Capital Co. Ltd., Class A | | | 25,800 | | | | 14,962 | |
| | |
Minth Group Ltd.* | | | 6,994 | | | | 11,172 | |
| | |
Montage Technology Co. Ltd., Class A | | | 2,474 | | | | 18,373 | |
| | |
Muyuan Foods Co. Ltd.*, Class A | | | 1,614 | | | | 8,782 | |
| | |
Nanjing King-Friend Biochemical Pharmaceutical Co. Ltd., Class A | | | 5,876 | | | | 9,377 | |
| | |
Nanjing Securities Co. Ltd., Class A | | | 12,090 | | | | 12,897 | |
| | |
NARI Technology Co. Ltd., Class A | | | 3,837 | | | | 13,330 | |
| | |
National Silicon Industry Group Co. Ltd., Class A | | | 8,300 | | | | 17,204 | |
| | |
NAURA Technology Group Co. Ltd., Class A | | | 532 | | | | 23,892 | |
| | |
NavInfo Co. Ltd.*, Class A | | | 10,681 | | | | 11,032 | |
| | |
NetEase, Inc. | | | 28,626 | | | | 468,635 | |
| | |
New China Life Insurance Co. Ltd., Class A | | | 66 | | | | 308 | |
| | |
New Hope Liuhe Co. Ltd.*, Class A | | | 3,910 | | | | 4,971 | |
| | |
New Oriental Education & Technology Group, Inc.* | | | 13,242 | | | | 79,787 | |
| | |
New Oriental Education & Technology Group, Inc.*, ADR | | | 203 | | | | 12,480 | |
| | |
Ninestar Corp.*, Class A | | | 3,563 | | | | 12,534 | |
| | |
Ningbo Deye Technology Co. Ltd., Class A | | | 1,356 | | | | 17,350 | |
| | |
Ningbo Joyson Electronic Corp., Class A | | | 2,700 | | | | 5,463 | |
See Notes to Financial Statements.
8 | DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Ningbo Orient Wires & Cables Co. Ltd., Class A | | | 95 | | | | 646 | |
| | |
Ningbo Sanxing Medical Electric Co. Ltd., Class A | | | 2,400 | | | | 11,135 | |
| | |
Ningbo Shanshan Co. Ltd., Class A | | | 2,912 | | | | 2,905 | |
| | |
Ningbo Tuopu Group Co. Ltd., Class A | | | 1,970 | | | | 9,357 | |
| | |
Ningbo Zhoushan Port Co. Ltd., Class A | | | 13,888 | | | | 6,702 | |
| | |
NIO, Inc.*(b), ADR | | | 23,332 | | | | 94,261 | |
| | |
Nongfu Spring Co. Ltd., Class H, 144A | | | 30,521 | | | | 111,122 | |
| | |
OFILM Group Co. Ltd.*, Class A | | | 5,100 | | | | 5,994 | |
| | |
Onewo, Inc., Class H | | | 3,712 | | | | 8,271 | |
| | |
Oppein Home Group, Inc., Class A | | | 557 | | | | 3,486 | |
| | |
Orient Securities Co. Ltd., Class A | | | 12,465 | | | | 14,810 | |
| | |
Orient Securities Co. Ltd., Class H, 144A | | | 41,364 | | | | 17,499 | |
| | |
Oriental Pearl Group Co. Ltd., Class A | | | 15,300 | | | | 13,536 | |
| | |
Ovctek China, Inc., Class A | | | 3,744 | | | | 7,602 | |
| | |
Pacific Securities Co. Ltd.*, Class A | | | 26,050 | | | | 11,689 | |
| | |
People.cn Co. Ltd., Class A | | | 3,782 | | | | 9,392 | |
| | |
People’s Insurance Co. Group of China Ltd., Class A | | | 560 | | | | 474 | |
| | |
People’s Insurance Co. Group of China Ltd., Class H | | | 43,669 | | | | 16,515 | |
| | |
Perfect World Co. Ltd., Class A | | | 6,806 | | | | 7,299 | |
| | |
Pharmaron Beijing Co. Ltd., Class A | | | 2,235 | | | | 6,304 | |
| | |
Pharmaron Beijing Co. Ltd., Class H, 144A | | | 12,431 | | | | 14,247 | |
| | |
PICC Property & Casualty Co. Ltd., Class H | | | 53,963 | | | | 69,872 | |
| | |
Ping An Bank Co. Ltd., Class A | | | 12,570 | | | | 18,020 | |
| | |
Ping An Insurance Group Co. of China Ltd., Class A | | | 10,813 | | | | 67,179 | |
| | |
Ping An Insurance Group Co. of China Ltd., Class H | | | 104,554 | | | | 501,297 | |
| | |
Piotech, Inc., Class A | | | 951 | | | | 17,230 | |
| | |
Poly Developments and Holdings Group Co. Ltd., Class A | | | 13,146 | | | | 15,062 | |
| | |
Poly Property Services Co. Ltd., Class H | | | 804 | | | | 2,654 | |
| | |
Pop Mart International Group Ltd., 144A | | | 10,567 | | | | 62,112 | |
| | |
Postal Savings Bank of China Co. Ltd., Class A | | | 6,362 | | | | 4,246 | |
| | |
Postal Savings Bank of China Co. Ltd., Class H, 144A | | | 74,072 | | | | 39,788 | |
| | |
Qi An Xin Technology Group, Inc.*, Class A | | | 4,463 | | | | 14,232 | |
| | |
Qifu Technology, Inc., ADR | | | 1,024 | | | | 27,126 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Qinghai Salt Lake Industry Co. Ltd.*, Class A | | | 4,511 | | | | 9,312 | |
| | |
Quzhou Xin’an Development Co. Ltd.*, Class A | | | 31,749 | | | | 7,526 | |
| | |
Range Intelligent Computing Technology Group Co. Ltd., Class A | | | 4,600 | | | | 15,500 | |
| | |
Raytron Technology Co. Ltd., Class A | | | 3,186 | | | | 11,387 | |
| | |
Remegen Co. Ltd.*, Class A | | | 3,613 | | | | 13,066 | |
| | |
Remegen Co. Ltd.*, Class H, 144A | | | 7,633 | | | | 12,193 | |
| | |
Rockchip Electronics Co. Ltd., Class A | | | 1,628 | | | | 12,299 | |
| | |
Ruijie Networks Co. Ltd., Class A | | | 3,000 | | | | 13,432 | |
| | |
SAIC Motor Corp. Ltd., Class A | | | 2,298 | | | | 4,073 | |
| | |
Sanan Optoelectronics Co. Ltd., Class A | | | 7,478 | | | | 11,027 | |
| | |
Sangfor Technologies, Inc., Class A | | | 1,502 | | | | 9,872 | |
| | |
Sany Heavy Industry Co. Ltd., Class A | | | 1,908 | | | | 4,340 | |
| | |
SDIC Capital Co. Ltd., Class A | | | 14,427 | | | | 11,827 | |
| | |
Sealand Securities Co. Ltd., Class A | | | 25,444 | | | | 10,591 | |
| | |
Seazen Holdings Co. Ltd.*, Class A | | | 2,910 | | | | 4,213 | |
| | |
SenseTime Group, Inc.*, Class B, 144A | | | 338,357 | | | | 51,185 | |
| | |
Seres Group Co. Ltd.*, Class A | | | 1,465 | | | | 15,818 | |
| | |
SF Holding Co. Ltd., Class A | | | 4,000 | | | | 20,516 | |
| | |
SG Micro Corp., Class A | | | 1,679 | | | | 17,235 | |
| | |
Shandong Gold Mining Co. Ltd., Class A | | | 2,341 | | | | 8,919 | |
| | |
Shandong Gold Mining Co. Ltd., Class H, 144A | | | 8,074 | | | | 15,609 | |
| | |
Shandong Hi-speed Co. Ltd., Class A | | | 10,188 | | | | 13,053 | |
| | |
Shandong Linglong Tyre Co. Ltd., Class A | | | 1,327 | | | | 3,146 | |
| | |
Shandong Pharmaceutical Glass Co. Ltd., Class A | | | 3,800 | | | | 13,137 | |
| | |
Shandong Publishing & Media Co. Ltd., Class A | | | 6,500 | | | | 10,887 | |
| | |
Shandong Sinocera Functional Material Co. Ltd., Class A | | | 2,577 | | | | 5,673 | |
| | |
Shandong Weigao Group Medical Polymer Co. Ltd., Class H | | | 40,368 | | | | 22,822 | |
| | |
Shanghai Aiko Solar Energy Co. Ltd.*, Class A | | | 5,224 | | | | 5,985 | |
| | |
Shanghai Baosight Software Co. Ltd., Class A | | | 4,956 | | | | 20,476 | |
| | |
Shanghai Baosight Software Co. Ltd., Class B | | | 17,778 | | | | 26,703 | |
| | |
Shanghai BOCHU Electronic Technology Corp. Ltd., Class A | | | 771 | | | | 17,590 | |
See Notes to Financial Statements.
DBX ETF Trust | 9
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class A | | | 3,431 | | | | 10,912 | |
| | |
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class H | | | 13,770 | | | | 21,996 | |
| | |
Shanghai Fudan Microelectronics Group Co. Ltd., Class A | | | 3,139 | | | | 12,265 | |
| | |
Shanghai Fudan Microelectronics Group Co. Ltd., Class H | | | 5,532 | | | | 7,744 | |
| | |
Shanghai International Airport Co. Ltd., Class A | | | 3,663 | | | | 17,124 | |
| | |
Shanghai International Port Group Co. Ltd., Class A | | | 15,550 | | | | 12,989 | |
| | |
Shanghai Jinjiang International Hotels Co. Ltd., Class A | | | 2,666 | | | | 9,077 | |
| | |
Shanghai Junshi Biosciences Co. Ltd.*, Class A | | | 3,432 | | | | 12,843 | |
| | |
Shanghai Junshi Biosciences Co. Ltd.*, Class H, 144A | | | 8,462 | | | | 12,909 | |
| | |
Shanghai Lingang Holdings Corp. Ltd., Class A | | | 7,911 | | | | 9,924 | |
| | |
Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd., Class A | | | 8,308 | | | | 9,273 | |
| | |
Shanghai M&G Stationery, Inc., Class A | | | 1,991 | | | | 7,526 | |
| | |
Shanghai Moons’ Electric Co. Ltd., Class A | | | 2,000 | | | | 10,109 | |
| | |
Shanghai Pharmaceuticals Holding Co. Ltd., Class A | | | 154 | | | | 404 | |
| | |
Shanghai Pudong Development Bank Co. Ltd., Class A | | | 22,241 | | | | 26,456 | |
| | |
Shanghai Putailai New Energy Technology Co. Ltd., Class A | | | 2,088 | | | | 3,403 | |
| | |
Shanghai RAAS Blood Products Co. Ltd., Class A | | | 13,772 | | | | 13,933 | |
| | |
Shanghai Rural Commercial Bank Co. Ltd., Class A | | | 12,372 | | | | 11,522 | |
| | |
Shanghai United Imaging Healthcare Co. Ltd., Class A | | | 1,439 | | | | 21,464 | |
| | |
Shanghai Yuyuan Tourist Mart Group Co. Ltd., Class A | | | 10,747 | | | | 7,840 | |
| | |
Shanghai Zhangjiang High-Tech Park Development Co. Ltd., Class A | | | 5,321 | | | | 13,072 | |
| | |
Shanghai Zhonggu Logistics Co. Ltd., Class A | | | 8,400 | | | | 9,861 | |
| | |
Shanjin International Gold Co. Ltd., Class A | | | 5,882 | | | | 13,329 | |
| | |
Shanxi Securities Co. Ltd., Class A | | | 15,819 | | | | 10,982 | |
| | |
Shengyi Technology Co. Ltd., Class A | | | 2,345 | | | | 5,834 | |
| | |
Shennan Circuits Co. Ltd., Class A | | | 534 | | | | 7,594 | |
| | |
Shenwan Hongyuan Group Co. Ltd., Class A | | | 34,840 | | | | 22,221 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Shenzhen Capchem Technology Co. Ltd., Class A | | | 1,016 | | | | 4,661 | |
| | |
Shenzhen Fastprint Circuit Tech Co. Ltd., Class A | | | 8,700 | | | | 11,404 | |
| | |
Shenzhen Goodix Technology Co. Ltd., Class A | | | 1,482 | | | | 13,270 | |
| | |
Shenzhen Hepalink Pharmaceutical Group Co. Ltd.*, Class A | | | 3,431 | | | | 4,715 | |
| | |
Shenzhen Inovance Technology Co. Ltd., Class A | | | 3,301 | | | | 20,168 | |
| | |
Shenzhen Kaifa Technology Co. Ltd., Class A | | | 222 | | | | 430 | |
| | |
Shenzhen Kangtai Biological Products Co. Ltd., Class A | | | 6,644 | | | | 13,519 | |
| | |
Shenzhen Kedali Industry Co. Ltd., Class A | | | 10 | | | | 104 | |
| | |
Shenzhen Longsys Electronics Co. Ltd.*, Class A | | | 800 | | | | 8,286 | |
| | |
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A | | | 1,588 | | | | 56,197 | |
| | |
Shenzhen New Industries Biomedical Engineering Co. Ltd., Class A | | | 2,125 | | | | 20,051 | |
| | |
Shenzhen Overseas Chinese Town Co. Ltd.*, Class A | | | 26,566 | | | | 7,197 | |
| | |
Shenzhen Salubris Pharmaceuticals Co. Ltd., Class A | | | 3,246 | | | | 13,809 | |
| | |
Shenzhen SC New Energy Technology Corp., Class A | | | 1,996 | | | | 13,015 | |
| | |
Shenzhen Sunlord Electronics Co. Ltd., Class A | | | 2,164 | | | | 7,692 | |
| | |
Shenzhen Transsion Holdings Co. Ltd., Class A | | | 1,640 | | | | 18,513 | |
| | |
Shenzhou International Group Holdings Ltd. | | | 13,141 | | | | 108,492 | |
| | |
Shijiazhuang Yiling Pharmaceutical Co. Ltd., Class A | | | 3,725 | | | | 8,121 | |
| | |
Sichuan Chuantou Energy Co. Ltd., Class A | | | 8,559 | | | | 20,773 | |
| | |
Sichuan Kelun Pharmaceutical Co. Ltd., Class A | | | 2,215 | | | | 9,583 | |
| | |
Sichuan Kelun-Biotech Biopharmaceutical Co. Ltd.* | | | 516 | | | | 10,849 | |
| | |
Sichuan Swellfun Co. Ltd., Class A | | | 1,560 | | | | 7,315 | |
| | |
Silergy Corp. | | | 5,084 | | | | 74,933 | |
| | |
Sinocelltech Group Ltd.*, Class A | | | 1,940 | | | | 9,261 | |
| | |
Sinolink Securities Co. Ltd., Class A | | | 11,793 | | | | 12,231 | |
| | |
Sinoma Science & Technology Co. Ltd., Class A | | | 1,848 | | | | 2,600 | |
| | |
Sinomine Resource Group Co. Ltd., Class A | | | 2,206 | | | | 8,825 | |
| | |
Sinopharm Group Co. Ltd., Class H | | | 10,212 | | | | 23,801 | |
See Notes to Financial Statements.
10 | DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Sinotrans Ltd., Class H | | | 10,917 | | | | 4,982 | |
| | |
Skshu Paint Co. Ltd., Class A | | | 1,523 | | | | 6,372 | |
| | |
Smoore International Holdings Ltd., 144A | | | 29,322 | | | | 33,982 | |
| | |
Songcheng Performance Development Co. Ltd., Class A | | | 8,146 | | | | 8,931 | |
| | |
Sonoscape Medical Corp., Class A | | | 3,100 | | | | 13,385 | |
| | |
SooChow Securities Co. Ltd., Class A | | | 13,624 | | | | 11,977 | |
| | |
Southwest Securities Co. Ltd., Class A | | | 23,929 | | | | 12,662 | |
| | |
Spring Airlines Co. Ltd., Class A | | | 689 | | | | 4,908 | |
| | |
StarPower Semiconductor Ltd., Class A | | | 1,140 | | | | 12,346 | |
| | |
Sungrow Power Supply Co. Ltd., Class A | | | 2,104 | | | | 22,860 | |
| | |
Sunny Optical Technology Group Co. Ltd. | | | 7,619 | | | | 47,177 | |
| | |
Sunresin New Materials Co. Ltd., Class A | | | 2,367 | | | | 13,420 | |
| | |
Sunwoda Electronic Co. Ltd., Class A | | | 194 | | | | 460 | |
| | |
SUPCON Technology Co. Ltd., Class A | | | 2,205 | | | | 12,268 | |
| | |
Suzhou Dongshan Precision Manufacturing Co. Ltd., Class A | | | 210 | | | | 705 | |
| | |
Suzhou Maxwell Technologies Co. Ltd., Class A | | | 1,133 | | | | 13,063 | |
| | |
Suzhou TFC Optical Communication Co. Ltd., Class A | | | 1,200 | | | | 13,002 | |
| | |
TAL Education Group*, ADR | | | 4,555 | | | | 36,622 | |
| | |
Talkweb Information System Co. Ltd.*, Class A | | | 8,500 | | | | 14,225 | |
| | |
TangShan Port Group Co. Ltd., Class A | | | 18,874 | | | | 13,183 | |
| | |
Tasly Pharmaceutical Group Co. Ltd., Class A | | | 4,041 | | | | 8,114 | |
| | |
TCL Technology Group Corp., Class A | | | 618 | | | | 341 | |
| | |
Tencent Holdings Ltd. | | | 98,354 | | | | 4,816,577 | |
| | |
Tencent Music Entertainment Group, ADR | | | 9,959 | | | | 103,972 | |
| | |
Thunder Software Technology Co. Ltd., Class A | | | 2,196 | | | | 10,634 | |
| | |
Tianfeng Securities Co. Ltd.*, Class A | | | 42,689 | | | | 14,457 | |
| | |
Tianjin Pharmaceutical Da Re Tang Group Corp. Ltd., Class A | | | 1,970 | | | | 8,003 | |
| | |
Tianqi Lithium Corp., Class A | | | 917 | | | | 3,400 | |
| | |
Tianqi Lithium Corp., Class H | | | 964 | | | | 2,437 | |
| | |
Tianshui Huatian Technology Co. Ltd., Class A | | | 4,517 | | | | 5,080 | |
| | |
Titan Wind Energy Suzhou Co. Ltd., Class A | | | 4,200 | | | | 4,249 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Tongcheng Travel Holdings Ltd. | | | 21,786 | | | | 40,665 | |
| | |
TongFu Microelectronics Co. Ltd., Class A | | | 112 | | | | 314 | |
| | |
Tonghua Dongbao Pharmaceutical Co. Ltd., Class A | | | 7,194 | | | | 8,070 | |
| | |
Topchoice Medical Corp., Class A | | | 1,572 | | | | 9,631 | |
| | |
Topsports International Holdings Ltd., 144A | | | 46,969 | | | | 17,522 | |
| | |
TravelSky Technology Ltd., Class H | | | 23,962 | | | | 29,767 | |
| | |
Trip.com Group Ltd.*, ADR | | | 648 | | | | 30,547 | |
| | |
Trip.Com Group Ltd.* | | | 8,185 | | | | 388,453 | |
| | |
Tsinghua Tongfang Co. Ltd.*, Class A | | | 11,642 | | | | 8,082 | |
| | |
Unigroup Guoxin Microelectronics Co. Ltd., Class A | | | 2,320 | | | | 15,582 | |
| | |
Uni-President China Holdings Ltd. | | | 8,845 | | | | 7,813 | |
| | |
Unisplendour Corp. Ltd., Class A | | | 3,090 | | | | 8,607 | |
| | |
Universal Scientific Industrial Shanghai Co. Ltd., Class A | | | 2,133 | | | | 4,773 | |
| | |
Venustech Group, Inc., Class A | | | 7,282 | | | | 13,573 | |
| | |
Verisilicon Microelectronics Shanghai Co. Ltd.*, Class A | | | 2,413 | | | | 9,602 | |
| | |
Vipshop Holdings Ltd., ADR | | | 3,679 | | | | 46,135 | |
| | |
Walvax Biotechnology Co. Ltd., Class A | | | 7,626 | | | | 11,180 | |
| | |
Wanda Film Holding Co. Ltd.*, Class A | | | 4,094 | | | | 5,673 | |
| | |
Wangfujing Group Co. Ltd., Class A | | | 4,694 | | | | 8,379 | |
| | |
Wangsu Science & Technology Co. Ltd., Class A | | | 13,700 | | | | 13,899 | |
| | |
Wanhua Chemical Group Co. Ltd., Class A | | | 900 | | | | 9,270 | |
| | |
Weibo Corp., ADR | | | 2,740 | | | | 20,495 | |
| | |
Weichai Power Co. Ltd., Class A | | | 4,707 | | | | 8,608 | |
| | |
Weichai Power Co. Ltd., Class H | | | 23,097 | | | | 35,354 | |
| | |
Weihai Guangwei Composites Co. Ltd., Class A | | | 2,822 | | | | 11,110 | |
| | |
Western Mining Co. Ltd., Class A | | | 1,475 | | | | 3,257 | |
| | |
Western Securities Co. Ltd., Class A | | | 14,332 | | | | 13,125 | |
| | |
Western Superconducting Technologies Co. Ltd., Class A | | | 2,657 | | | | 13,493 | |
| | |
Will Semiconductor Co. Ltd., Class A | | | 949 | | | | 12,123 | |
| | |
Wingtech Technology Co. Ltd., Class A | | | 1,115 | | | | 4,106 | |
| | |
Winner Medical Co. Ltd., Class A | | | 1,471 | | | | 5,307 | |
| | |
Winning Health Technology Group Co. Ltd., Class A | | | 12,624 | | | | 9,708 | |
| | |
WUS Printed Circuit Kunshan Co. Ltd., Class A | | | 2,243 | | | | 10,289 | |
See Notes to Financial Statements.
DBX ETF Trust | 11
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
WuXi AppTec Co. Ltd., Class A | | | 4,828 | | | | 26,691 | |
| | |
WuXi AppTec Co. Ltd., Class H, 144A | | | 7,696 | | | | 33,841 | |
| | |
Wuxi Autowell Technology Co. Ltd., Class A | | | 1,969 | | | | 10,027 | |
| | |
Wuxi Biologics Cayman, Inc.*, 144A | | | 64,919 | | | | 93,379 | |
| | |
Wuxi Lead Intelligent Equipment Co. Ltd., Class A | | | 136 | | | | 276 | |
| | |
WuXi XDC Cayman, Inc.* | | | 6,301 | | | | 16,196 | |
| | |
Xiamen C & D, Inc., Class A | | | 4,817 | | | | 4,955 | |
| | |
Xiamen Faratronic Co. Ltd., Class A | | | 1,197 | | | | 14,446 | |
| | |
Xiaomi Corp.*, Class B, 144A | | | 152,486 | | | | 381,195 | |
| | |
Xinyi Solar Holdings Ltd. | | | 54,556 | | | | 21,332 | |
| | |
XPeng, Inc.*, Class A | | | 17,608 | | | | 71,896 | |
| | |
Yadea Group Holdings Ltd., 144A | | | 13,479 | | | | 19,008 | |
| | |
Yangzhou Yangjie Electronic Technology Co. Ltd., Class A | | | 1,684 | | | | 8,637 | |
| | |
Yealink Network Technology Corp. Ltd., Class A | | | 2,982 | | | | 13,873 | |
| | |
Yifeng Pharmacy Chain Co. Ltd., Class A | | | 2,348 | | | | 6,683 | |
| | |
Yongan Futures Co. Ltd., Class A | | | 13,400 | | | | 21,687 | |
| | |
Yonghui Superstores Co. Ltd.*, Class A | | | 12,467 | | | | 4,116 | |
| | |
YongXing Special Materials Technology Co. Ltd., Class A | | | 753 | | | | 3,452 | |
| | |
Yonyou Network Technology Co. Ltd.*, Class A | | | 11,350 | | | | 13,949 | |
| | |
Youngor Fashion Co. Ltd., Class A | | | 7,507 | | | | 7,658 | |
| | |
YTO Express Group Co. Ltd., Class A | | | 2,354 | | | | 5,069 | |
| | |
Yunda Holding Co. Ltd., Class A | | | 3,365 | | | | 3,333 | |
| | |
Yunnan Baiyao Group Co. Ltd., Class A | | | 2,263 | | | | 17,262 | |
| | |
Yunnan Botanee Bio-Technology Group Co. Ltd., Class A | | | 1,425 | | | | 8,455 | |
| | |
Yunnan Energy New Material Co. Ltd., Class A | | | 1,912 | | | | 7,260 | |
| | |
Yunnan Yuntianhua Co. Ltd., Class A | | | 173 | | | | 504 | |
| | |
Zai Lab Ltd.*, ADR | | | 959 | | | | 19,122 | |
| | |
Zai Lab Ltd.* | | | 10,806 | | | | 21,112 | |
| | |
Zangge Mining Co. Ltd., Class A | | | 2,698 | | | | 9,160 | |
| | |
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., Class A | | | 626 | | | | 18,425 | |
| | |
Zhaojin Mining Industry Co. Ltd., Class H | | | 15,950 | | | | 26,214 | |
| | |
Zhefu Holding Group Co. Ltd., Class A | | | 15,112 | | | | 6,056 | |
| | |
Zhejiang Century Huatong Group Co. Ltd.*, Class A | | | 17,026 | | | | 7,856 | |
| | |
Zhejiang China Commodities City Group Co. Ltd., Class A | | | 13,446 | | | | 15,690 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Zhejiang Chint Electrics Co. Ltd., Class A | | | 2,637 | | | | 6,530 | |
| | |
Zhejiang Dahua Technology Co. Ltd., Class A | | | 5,932 | | | | 11,484 | |
| | |
Zhejiang Dingli Machinery Co. Ltd., Class A | | | 1,460 | | | | 9,977 | |
| | |
Zhejiang Expressway Co. Ltd., Class H | | | 28,300 | | | | 18,249 | |
| | |
Zhejiang Huahai Pharmaceutical Co. Ltd., Class A | | | 5,532 | | | | 13,137 | |
| | |
Zhejiang Jingsheng Mechanical & Electrical Co. Ltd., Class A | | | 2,495 | | | | 8,337 | |
| | |
Zhejiang Jinke Tom Culture Industry Co. Ltd.*, Class A | | | 15,092 | | | | 7,539 | |
| | |
Zhejiang Jiuzhou Pharmaceutical Co. Ltd., Class A | | | 3,976 | | | | 7,131 | |
| | |
Zhejiang Juhua Co. Ltd., Class A | | | 1,207 | | | | 2,797 | |
| | |
Zhejiang Leapmotor Technology Co. Ltd.*, 144A | | | 7,768 | | | | 21,460 | |
| | |
Zhejiang NHU Co. Ltd., Class A | | | 4,696 | | | | 12,815 | |
| | |
Zhejiang Shuanghuan Driveline Co. Ltd., Class A | | | 4,100 | | | | 12,132 | |
| | |
Zhejiang Supor Co. Ltd., Class A | | | 696 | | | | 4,891 | |
| | |
Zhejiang Wanfeng Auto Wheel Co. Ltd., Class A | | | 3,500 | | | | 6,573 | |
| | |
Zhejiang Weiming Environment Protection Co. Ltd., Class A | | | 2,823 | | | | 7,282 | |
| | |
Zhejiang Weixing New Building Materials Co. Ltd., Class A | | | 2,204 | | | | 3,695 | |
| | |
Zheshang Securities Co. Ltd., Class A | | | 10,479 | | | | 16,546 | |
| | |
ZhongAn Online P&C Insurance Co. Ltd.*, Class H, 144A | | | 8,467 | | | | 11,007 | |
| | |
Zhongfu Shenying Carbon Fiber Co. Ltd., Class A | | | 3,956 | | | | 9,796 | |
| | |
Zhongji Innolight Co. Ltd., Class A | | | 1,200 | | | | 18,439 | |
| | |
Zhongsheng Group Holdings Ltd. | | | 1,961 | | | | 2,250 | |
| | |
Zhongtai Securities Co. Ltd., Class A | | | 15,262 | | | | 12,555 | |
| | |
Zhuhai Huafa Properties Co. Ltd., Class A | | | 11,320 | | | | 8,817 | |
| | |
Zhuzhou CRRC Times Electric Co. Ltd., Class H | | | 3,443 | | | | 11,917 | |
| | |
Zhuzhou Kibing Group Co. Ltd., Class A | | | 3,978 | | | | 3,003 | |
| | |
Zijin Mining Group Co. Ltd., Class A | | | 9,793 | | | | 22,109 | |
| | |
Zijin Mining Group Co. Ltd., Class H | | | 52,095 | | | | 105,654 | |
| | |
ZTE Corp., Class A | | | 2,264 | | | | 7,932 | |
| | |
ZTE Corp., Class H | | | 8,691 | | | | 17,515 | |
| | |
ZTO Express Cayman, Inc., ADR | | | 528 | | | | 11,320 | |
| | |
ZTO Express Cayman, Inc. | | | 3,851 | | | | 84,520 | |
| | |
(Cost $30,730,854) | | | | | | | 23,520,626 | |
| | |
Colombia — 0.1% | | | | | | | | |
| | |
Bancolombia SA | | | 3,515 | | | | 32,062 | |
See Notes to Financial Statements.
12 | DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Ecopetrol SA | | | 37,196 | | | | 18,358 | |
| | |
Interconexion Electrica SA ESP | | | 5,107 | | | | 22,273 | |
| | |
(Cost $65,002) | | | | | | | 72,693 | |
| | |
Czech Republic — 0.1% | | | | | | | | |
| | |
CEZ AS | | | 1,262 | | | | 48,249 | |
| | |
Komercni Banka AS | | | 816 | | | | 27,697 | |
| | |
(Cost $90,700) | | | | | | | 75,946 | |
| | |
Egypt — 0.1% | | | | | | | | |
| | |
Abou Kir Fertilizers & Chemical Industries | | | 130 | | | | 155 | |
| | |
Commercial International Bank - Egypt (CIB) | | | 19,257 | | | | 34,490 | |
| | |
EFG Holding S.A.E.* | | | 24,347 | | | | 11,968 | |
| | |
E-Finance for Digital & Financial Investments | | | 28,157 | | | | 13,494 | |
| | |
Misr Fertilizers Production Co. SAE | | | 7,323 | | | | 6,663 | |
| | |
Talaat Moustafa Group | | | 18,550 | | | | 22,510 | |
| | |
(Cost $101,643) | | | | | | | 89,280 | |
| | |
Greece — 0.4% | | | | | | | | |
| | |
Alpha Services and Holdings SA | | | 20,771 | | | | 35,556 | |
| | |
Athens International Airport SA | | | 1,584 | | | | 13,851 | |
| | |
Eurobank Ergasias Services and Holdings SA | | | 24,701 | | | | 56,433 | |
| | |
Hellenic Telecommunications Organization SA | | | 3,821 | | | | 62,004 | |
| | |
JUMBO SA | | | 1,310 | | | | 33,177 | |
| | |
Metlen Energy & Metals SA | | | 437 | | | | 16,466 | |
| | |
National Bank of Greece SA | | | 6,231 | | | | 54,197 | |
| | |
Piraeus Financial Holdings SA | | | 8,856 | | | | 38,309 | |
| | |
Star Bulk Carriers Corp. | | | 658 | | | | 14,061 | |
| | |
Terna Energy SA | | | 1,312 | | | | 27,753 | |
| | |
(Cost $331,380) | | | | | | | 351,807 | |
| | |
Hong Kong — 0.6% | | | | | | | | |
| | |
Beijing Enterprises Water Group Ltd. | | | 31,351 | | | | 9,164 | |
| | |
BOC Hong Kong Holdings Ltd. | | | 36,277 | | | | 114,406 | |
| | |
Brilliance China Automotive Holdings Ltd. | | | 26,254 | | | | 10,939 | |
| | |
C&D International Investment Group Ltd. | | | 12,306 | | | | 19,909 | |
| | |
China Medical System Holdings Ltd. | | | 29,985 | | | | 27,370 | |
| | |
China Merchants Port Holdings Co. Ltd. | | | 18,272 | | | | 27,407 | |
| | |
China Overseas Land & Investment Ltd. | | | 40,579 | | | | 64,403 | |
| | |
China Resources Land Ltd. | | | 30,153 | | | | 85,622 | |
| | |
China Ruyi Holdings Ltd.* | | | 124,257 | | | | 36,001 | |
| | |
China State Construction International Holdings Ltd. | | | 24,680 | | | | 35,183 | |
| | |
China Taiping Insurance Holdings Co. Ltd. | | | 1,501 | | | | 1,947 | |
| | | | | | | | |
| | | Number
of Shares | | | Value $ | |
| | |
China Traditional Chinese Medicine Holdings Co. Ltd.* | | | 54,184 | | | | 29,452 | |
| | |
Far East Horizon Ltd. | | | 42,004 | | | | 29,347 | |
| | |
Shandong Hi-Speed Holdings Group Ltd.* | | | 55,395 | | | | 39,130 | |
| | |
Want Want China Holdings Ltd. | | | 39,583 | | | | 22,886 | |
| | |
Yuexiu Property Co. Ltd. | | | 25,680 | | | | 13,432 | |
| | |
(Cost $678,348) | | | | | | | 566,598 | |
| | |
Hungary — 0.2% | | | | | | | | |
| | |
OTP Bank Nyrt | | | 2,291 | | | | 118,155 | |
| | |
Richter Gedeon Nyrt | | | 2,524 | | | | 76,651 | |
| | |
(Cost $200,682) | | | | | | | 194,806 | |
| | |
India — 18.9% | | | | | | | | |
| | |
ABB India Ltd. | | | 529 | | | | 50,055 | |
| | |
Adani Energy Solutions Ltd.* | | | 3,937 | | | | 47,288 | |
| | |
Adani Green Energy Ltd.* | | | 6,386 | | | | 139,958 | |
| | |
Adani Ports & Special Economic Zone Ltd. | | | 12,018 | | | | 212,343 | |
| | |
Adani Wilmar Ltd.* | | | 2,636 | | | | 11,377 | |
| | |
Aditya Birla Capital Ltd.* | | | 8,755 | | | | 22,976 | |
| | |
Alkem Laboratories Ltd. | | | 544 | | | | 40,022 | |
| | |
Ambuja Cements Ltd. | | | 4,030 | | | | 29,649 | |
| | |
APL Apollo Tubes Ltd. | | | 994 | | | | 17,328 | |
| | |
Apollo Hospitals Enterprise Ltd. | | | 1,740 | | | | 143,718 | |
| | |
Ashok Leyland Ltd. | | | 10,215 | | | | 31,234 | |
| | |
Asian Paints Ltd. | | | 4,073 | | | | 151,845 | |
| | |
Astral Ltd. | | | 1,761 | | | | 40,300 | |
| | |
AU Small Finance Bank Ltd., 144A | | | 6,741 | | | | 55,353 | |
| | |
Aurobindo Pharma Ltd. | | | 4,796 | | | | 89,743 | |
| | |
Avenue Supermarts Ltd.*, 144A | | | 2,473 | | | | 145,289 | |
| | |
Axis Bank Ltd., GDR | | | 518 | | | | 36,053 | |
| | |
Axis Bank Ltd. | | | 19,447 | | | | 272,502 | |
| | |
Bajaj Auto Ltd. | | | 678 | | | | 88,045 | |
| | |
Bajaj Finance Ltd. | | | 2,697 | | | | 231,531 | |
| | |
Bajaj Finserv Ltd. | | | 6,576 | | | | 139,802 | |
| | |
Bajaj Holdings & Investment Ltd. | | | 462 | | | | 55,402 | |
| | |
Bandhan Bank Ltd., 144A | | | 6,413 | | | | 15,315 | |
| | |
Bank of Baroda | | | 12,654 | | | | 37,734 | |
| | |
Bank of India | | | 12,081 | | | | 16,960 | |
| | |
Berger Paints India Ltd. | | | 4,338 | | | | 29,536 | |
| | |
Bharat Forge Ltd. | | | 3,013 | | | | 57,012 | |
| | |
Bharti Airtel Ltd. | | | 41,703 | | | | 790,118 | |
| | |
Biocon Ltd. | | | 9,297 | | | | 39,806 | |
| | |
Bosch Ltd. | | | 100 | | | | 38,618 | |
| | |
Britannia Industries Ltd. | | | 1,227 | | | | 85,660 | |
| | |
Canara Bank | | | 20,109 | | | | 26,740 | |
| | |
CG Power & Industrial Solutions Ltd. | | | 8,182 | | | | 67,908 | |
| | |
Cholamandalam Investment and Finance Co. Ltd. | | | 4,735 | | | | 82,177 | |
| | |
Cipla Ltd. | | | 8,999 | | | | 177,563 | |
See Notes to Financial Statements.
DBX ETF Trust | 13
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | | Value $ | |
| | |
Colgate-Palmolive India Ltd. | | | 2,379 | | | | 103,258 | |
| | |
Container Corp. Of India Ltd. | | | 3,414 | | | | 39,285 | |
| | |
Coromandel International Ltd. | | | 1,148 | | | | 24,066 | |
| | |
Cummins India Ltd. | | | 1,938 | | | | 86,528 | |
| | |
Dabur India Ltd. | | | 6,147 | | | | 46,697 | |
| | |
Deepak Nitrite Ltd. | | | 1,066 | | | | 36,999 | |
| | |
Delhivery Ltd.* | | | 5,581 | | | | 27,901 | |
| | |
Divi’s Laboratories Ltd. | | | 2,108 | | | | 128,029 | |
| | |
Dixon Technologies India Ltd. | | | 443 | | | | 69,568 | |
| | |
DLF Ltd. | | | 5,883 | | | | 59,278 | |
| | |
Dr. Reddy’s Laboratories Ltd. | | | 2,420 | | | | 202,881 | |
| | |
Eicher Motors Ltd. | | | 989 | | | | 58,494 | |
| | |
Embassy Office Parks REIT | | | 13,223 | | | | 61,193 | |
| | |
Exide Industries Ltd. | | | 5,024 | | | | 29,525 | |
| | |
FSN E-Commerce Ventures Ltd.* | | | 19,322 | | | | 47,849 | |
| | |
Gland Pharma Ltd., 144A | | | 1,096 | | | | 24,025 | |
| | |
GMR Airports Infrastructure Ltd.* | | | 14,907 | | | | 16,793 | |
| | |
Godrej Consumer Products Ltd. | | | 6,521 | | | | 115,163 | |
| | |
Godrej Properties Ltd.* | | | 1,633 | | | | 56,644 | |
| | |
Grasim Industries Ltd. | | | 1,447 | | | | 46,562 | |
| | |
Gujarat Fluorochemicals Ltd. | | | 211 | | | | 7,988 | |
| | |
Havells India Ltd. | | | 1,196 | | | | 27,085 | |
| | |
HCL Technologies Ltd. | | | 17,397 | | | | 363,668 | |
| | |
HDFC Asset Management Co. Ltd., 144A | | | 1,250 | | | | 65,882 | |
| | |
HDFC Bank Ltd. | | | 53,724 | | | | 1,048,522 | |
| | |
HDFC Life Insurance Co. Ltd., 144A | | | 9,865 | | | | 86,886 | |
| | |
Hero MotoCorp Ltd. | | | 1,044 | | | | 67,907 | |
| | |
Hindalco Industries Ltd. | | | 8,726 | | | | 72,969 | |
| | |
Hindustan Unilever Ltd. | | | 14,451 | | | | 478,649 | |
| | |
Hindustan Zinc Ltd. | | | 3,529 | | | | 21,070 | |
| | |
Honeywell Automation India Ltd. | | | 50 | | | | 30,385 | |
| | |
ICICI Bank Ltd. | | | 49,586 | | | | 726,722 | |
| | |
ICICI Lombard General Insurance Co. Ltd., 144A | | | 2,652 | | | | 67,722 | |
| | |
ICICI Prudential Life Insurance Co. Ltd., 144A | | | 4,106 | | | | 36,871 | |
| | |
IDFC First Bank Ltd.* | | | 35,677 | | | | 31,410 | |
| | |
Indian Bank | | | 2,543 | | | | 17,201 | |
| | |
Indian Hotels Co. Ltd. | | | 12,057 | | | | 93,082 | |
| | |
Indian Railway Catering & Tourism Corp. Ltd. | | | 4,288 | | | | 47,690 | |
| | |
Indian Railway Finance Corp. Ltd., 144A | | | 32,749 | | | | 69,745 | |
| | |
Indus Towers Ltd.* | | | 6,207 | | | | 33,932 | |
| | |
IndusInd Bank Ltd. | | | 5,746 | | | | 97,644 | |
| | |
Info Edge India Ltd. | | | 1,015 | | | | 92,928 | |
| | |
Infosys Ltd. | | | 68,751 | | | | 1,593,291 | |
| | |
InterGlobe Aviation Ltd.*, 144A | | | 834 | | | | 48,029 | |
| | |
Jio Financial Services Ltd.* | | | 45,571 | | | | 174,794 | |
| | |
JSW Steel Ltd. | | | 6,820 | | | | 76,526 | |
| | | | | | | | |
| | | Number
of Shares | | | Value $ | |
| | |
Jubilant Foodworks Ltd. | | | 4,774 | | | | 37,015 | |
| | |
Kalyan Jewellers India Ltd. | | | 5,748 | | | | 42,162 | |
| | |
Kotak Mahindra Bank Ltd. | | | 10,633 | | | | 225,766 | |
| | |
L&T Technology Services Ltd., 144A | | | 520 | | | | 35,440 | |
| | |
Life Insurance Corp. Of India | | | 3,376 | | | | 42,838 | |
| | |
Linde India Ltd. | | | 384 | | | | 33,081 | |
| | |
LTIMindtree Ltd., 144A | | | 1,307 | | | | 95,932 | |
| | |
Lupin Ltd. | | | 4,230 | | | | 112,983 | |
| | |
Macrotech Developers Ltd., 144A | | | 4,065 | | | | 60,773 | |
| | |
Mahindra & Mahindra Financial Services Ltd. | | | 10,283 | | | | 38,541 | |
| | |
Mahindra & Mahindra Ltd. | | | 7,424 | | | | 248,325 | |
| | |
MakeMyTrip Ltd.* | | | 837 | | | | 80,494 | |
| | |
Mankind Pharma Ltd.* | | | 501 | | | | 14,860 | |
| | |
Marico Ltd. | | | 6,228 | | | | 48,055 | |
| | |
Maruti Suzuki India Ltd. | | | 1,164 | | | | 172,134 | |
| | |
Max Financial Services Ltd.* | | | 2,601 | | | | 33,333 | |
| | |
Max Healthcare Institute Ltd. | | | 10,504 | | | | 108,013 | |
| | |
Mphasis Ltd. | | | 998 | | | | 36,946 | |
| | |
Muthoot Finance Ltd. | | | 1,325 | | | | 31,057 | |
| | |
Nestle India Ltd. | | | 3,713 | | | | 110,709 | |
| | |
NHPC Ltd. | | | 39,938 | | | | 45,771 | |
| | |
NMDC Ltd. | | | 14,314 | | | | 38,001 | |
| | |
Oberoi Realty Ltd. | | | 1,663 | | | | 35,142 | |
| | |
One 97 Communications Ltd.* | | | 5,481 | | | | 40,641 | |
| | |
Oracle Financial Services Software Ltd. | | | 457 | | | | 59,876 | |
| | |
Page Industries Ltd. | | | 106 | | | | 53,739 | |
| | |
Patanjali Foods Ltd. | | | 259 | | | | 5,997 | |
| | |
PB Fintech Ltd.* | | | 3,606 | | | | 76,197 | |
| | |
Persistent Systems Ltd. | | | 1,492 | | | | 91,985 | |
| | |
Phoenix Mills Ltd. | | | 1,104 | | | | 49,617 | |
| | |
PI Industries Ltd. | | | 779 | | | | 41,754 | |
| | |
Pidilite Industries Ltd. | | | 1,657 | | | | 61,705 | |
| | |
Power Finance Corp. Ltd. | | | 14,659 | | | | 96,050 | |
| | |
Power Grid Corp. of India Ltd. | | | 43,642 | | | | 175,564 | |
| | |
Prestige Estates Projects Ltd. | | | 2,193 | | | | 47,409 | |
| | |
Procter & Gamble Hygiene & Health Care Ltd. | | | 201 | | | | 39,582 | |
| | |
Punjab National Bank | | | 26,599 | | | | 36,969 | |
| | |
Rail Vikas Nigam Ltd. | | | 5,713 | | | | 41,374 | |
| | |
REC Ltd. | | | 13,025 | | | | 96,246 | |
| | |
Samvardhana Motherson International Ltd. | | | 26,631 | | | | 62,006 | |
| | |
SBI Cards & Payment Services Ltd. | | | 4,290 | | | | 36,992 | |
| | |
SBI Life Insurance Co. Ltd., 144A | | | 4,361 | | | | 96,209 | |
| | |
Schaeffler India Ltd. | | | 639 | | | | 30,031 | |
| | |
Shriram Finance Ltd. | | | 2,572 | | | | 98,269 | |
| | |
Sona Blw Precision Forgings Ltd., 144A | | | 4,873 | | | | 39,703 | |
See Notes to Financial Statements.
14 | DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | | Value $ | |
| | |
SRF Ltd. | | | 1,969 | | | | 60,208 | |
| | |
State Bank of India | | | 16,810 | | | | 163,468 | |
| | |
Sun Pharmaceutical Industries Ltd. | | | 17,590 | | | | 382,048 | |
| | |
Sundaram Finance Ltd. | | | 1,019 | | | | 61,363 | |
| | |
Supreme Industries Ltd. | | | 831 | | | | 52,362 | |
| | |
Suzlon Energy Ltd.* | | | 141,928 | | | | 128,337 | |
| | |
Tata Communications Ltd. | | | 2,014 | | | | 47,110 | |
| | |
Tata Consultancy Services Ltd. | | | 19,625 | | | | 1,065,530 | |
| | |
Tata Consumer Products Ltd. | | | 6,290 | | | | 90,006 | |
| | |
Tata Elxsi Ltd. | | | 575 | | | | 54,851 | |
| | |
Tata Motors Ltd. | | | 19,094 | | | | 253,003 | |
| | |
Tata Steel Ltd. | | | 53,932 | | | | 98,230 | |
| | |
Tech Mahindra Ltd. | | | 12,440 | | | | 242,730 | |
| | |
Thermax Ltd. | | | 470 | | | | 24,504 | |
| | |
Titan Co. Ltd. | | | 3,831 | | | | 162,846 | |
| | |
Torrent Pharmaceuticals Ltd. | | | 1,825 | | | | 75,835 | |
| | |
Trent Ltd. | | | 2,462 | | | | 210,142 | |
| | |
Tube Investments of India Ltd. | | | 1,278 | | | | 61,420 | |
| | |
TVS Motor Co. Ltd. | | | 2,895 | | | | 97,107 | |
| | |
UltraTech Cement Ltd. | | | 862 | | | | 116,157 | |
| | |
Union Bank of India Ltd. | | | 13,364 | | | | 19,366 | |
| | |
United Spirits Ltd. | | | 5,313 | | | | 93,396 | |
| | |
UNO Minda Ltd. | | | 2,284 | | | | 31,968 | |
| | |
UPL Ltd. | | | 5,092 | | | | 36,327 | |
| | |
Varun Beverages Ltd. | | | 6,382 | | | | 114,208 | |
| | |
Vedant Fashions Ltd. | | | 899 | | | | 13,403 | |
| | |
Vodafone Idea Ltd.* | | | 386,185 | | | | 72,014 | |
| | |
Voltas Ltd. | | | 3,645 | | | | 75,778 | |
| | |
Wipro Ltd. | | | 28,432 | | | | 182,515 | |
| | |
Yes Bank Ltd.* | | | 183,064 | | | | 51,533 | |
| | |
Zomato Ltd.* | | | 80,354 | | | | 240,024 | |
| | |
Zydus Lifesciences Ltd. | | | 4,690 | | | | 63,071 | |
| | |
(Cost $12,391,539) | | | | | | | 17,822,442 | |
| | |
Indonesia — 1.5% | | | | | | | | |
| | |
Amman Mineral Internasional PT* | | | 170,834 | | | | 117,721 | |
| | |
GoTo Gojek Tokopedia Tbk PT* | | | 13,073,433 | | | | 43,987 | |
| | |
Mayora Indah Tbk PT | | | 29,481 | | | | 5,074 | |
| | |
Pantai Indah Kapuk Dua Tbk PT | | | 24,805 | | | | 12,439 | |
| | |
PT Astra International Tbk | | | 98,299 | | | | 32,438 | |
| | |
PT Bank Central Asia Tbk | | | 508,158 | | | | 339,484 | |
| | |
PT Bank Mandiri Persero Tbk | | | 354,693 | | | | 163,519 | |
| | |
PT Bank Negara Indonesia Persero Tbk | | | 117,002 | | | | 40,502 | |
| | |
PT Bank Rakyat Indonesia Persero Tbk | | | 690,715 | | | | 230,164 | |
| | |
PT Barito Pacific Tbk | | | 360,907 | | | | 26,738 | |
| | |
PT Chandra Asri Pacific Tbk | | | 79,262 | | | | 51,158 | |
| | |
PT Charoen Pokphand Indonesia Tbk | | | 40,690 | | | | 12,795 | |
| | |
PT Dayamitra Telekomunikasi | | | 344,922 | | | | 14,841 | |
| | | | | | | | |
| | | Number
of Shares | | | Value $ | |
| | |
PT Indofood CBP Sukses Makmur Tbk | | | 22,975 | | | | 17,059 | |
| | |
PT Indosat Tbk | | | 29,720 | | | | 19,951 | |
| | |
PT Kalbe Farma Tbk | | | 306,725 | | | | 32,746 | |
| | |
PT Merdeka Copper Gold Tbk* | | | 69,644 | | | | 10,635 | |
| | |
PT Sarana Menara Nusantara Tbk | | | 486,476 | | | | 26,283 | |
| | |
PT Sumber Alfaria Trijaya Tbk | | | 223,222 | | | | 41,886 | |
| | |
PT Telkom Indonesia Persero Tbk | | | 792,789 | | | | 156,968 | |
| | |
PT Unilever Indonesia Tbk | | | 140,225 | | | | 20,596 | |
| | |
(Cost $1,426,411) | | | | | | | 1,416,984 | |
| | |
Ireland — 1.1% | | | | | | | | |
| | |
PDD Holdings, Inc., ADR * | | | | | | | | |
| | |
(Cost $1,247,626) | | | 10,433 | | | | 1,002,716 | |
| | |
Kazakhstan — 0.0% | | | | | | | | |
| | |
Solidcore Resources PLC *(a) | | | | | | | | |
| | |
(Cost $548,413) | | | 28,889 | | | | 0 | |
| | |
Kuwait — 0.5% | | | | | | | | |
| | |
Agility Public Warehousing Co. KSC | | | 25,231 | | | | 21,132 | |
| | |
Boubyan Bank KSCP | | | 13,163 | | | | 25,323 | |
| | |
Gulf Bank KSCP | | | 34,809 | | | | 36,102 | |
| | |
Kuwait Finance House KSCP | | | 74,534 | | | | 177,282 | |
| | |
Mabanee Co KPSC | | | 13,050 | | | | 36,633 | |
| | |
Mobile Telecommunications Co. KSCP | | | 31,050 | | | | 47,441 | |
| | |
National Bank of Kuwait SAKP | | | 52,451 | | | | 150,669 | |
| | |
(Cost $456,907) | | | | | | | 494,582 | |
| | |
Malaysia — 1.1% | | | | | | | | |
| | |
AMMB Holdings Bhd | | | 27,700 | | | | 33,323 | |
| | |
Axiata Group Bhd | | | 74,452 | | | | 43,922 | |
| | |
Celcomdigi Bhd | | | 38,600 | | | | 34,559 | |
| | |
CIMB Group Holdings Bhd | | | 67,404 | | | | 127,869 | |
| | |
Gamuda Bhd | | | 36,378 | | | | 63,120 | |
| | |
Hong Leong Bank Bhd | | | 6,600 | | | | 32,401 | |
| | |
IHH Healthcare Bhd | | | 44,800 | | | | 64,985 | |
| | |
IJM Corp. Bhd | | | 29,200 | | | | 19,388 | |
| | |
Inari Amertron Bhd | | | 34,400 | | | | 25,069 | |
| | |
Kuala Lumpur Kepong Bhd | | | 764 | | | | 3,846 | |
| | |
Malayan Banking Bhd | | | 48,756 | | | | 121,594 | |
| | |
Malaysia Airports Holdings Bhd | | | 11,962 | | | | 29,057 | |
| | |
Maxis Bhd | | | 45,400 | | | | 40,542 | |
| | |
MR DIY Group M Bhd, 144A | | | 23,750 | | | | 11,319 | |
| | |
Nestle Malaysia Bhd | | | 619 | | | | 15,180 | |
| | |
Petronas Chemicals Group Bhd | | | 1,000 | | | | 1,344 | |
| | |
PPB Group Bhd | | | 5,700 | | | | 19,253 | |
| | |
Press Metal Aluminium Holdings Bhd | | | 13,300 | | | | 15,292 | |
| | |
Public Bank Bhd | | | 125,000 | | | | 139,387 | |
| | |
QL Resources Bhd | | | 5,300 | | | | 7,970 | |
| | |
RHB Bank Bhd | | | 26,036 | | | | 36,923 | |
See Notes to Financial Statements.
DBX ETF Trust | 15
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | | Value $ | |
| | |
Sime Darby Bhd | | | 16,500 | | | | 9,467 | |
| | |
Sunway Bhd | | | 30,300 | | | | 28,740 | |
| | |
Telekom Malaysia Bhd | | | 43,000 | | | | 67,248 | |
| | |
TIME dotCom Bhd | | | 22,300 | | | | 25,898 | |
| | |
YTL Corp. Bhd | | | 41,900 | | | | 28,111 | |
| | |
(Cost $835,906) | | | | | | | 1,045,807 | |
| | |
Mexico — 2.1% | | | | | | | | |
| | |
America Movil SAB de CV, Series B | | | 500,622 | | | | 415,391 | |
| | |
Arca Continental SAB de CV | | | 8,275 | | | | 74,285 | |
| | |
Cemex SAB de CV, Series CPO | | | 71,193 | | | | 43,380 | |
| | |
Coca-Cola Femsa SAB de CV | | | 9,455 | | | | 79,632 | |
| | |
El Puerto de Liverpool SAB de CV, Class C1 | | | 2,878 | | | | 16,660 | |
| | |
Fibra Uno Administracion SA de CV REIT | | | 36,835 | | | | 43,483 | |
| | |
Fomento Economico Mexicano SAB de CV | | | 19,417 | | | | 199,117 | |
| | |
Gruma SAB de CV, Class B | | | 1,356 | | | | 24,948 | |
| | |
Grupo Aeroportuario del Pacifico SAB de CV, Class B | | | 4,272 | | | | 75,845 | |
| | |
Grupo Aeroportuario del Sureste SAB de CV, Class B | | | 2,025 | | | | 54,423 | |
| | |
Grupo Bimbo SAB de CV, Series A | | | 22,813 | | | | 81,836 | |
| | |
Grupo Carso SAB de CV, Series A1 | | | 5,998 | | | | 36,108 | |
| | |
Grupo Comercial Chedraui SA de CV | | | 6,409 | | | | 48,696 | |
| | |
Grupo Elektra SAB DE CV (a) | | | 759 | | | | 36,510 | |
| | |
Grupo Financiero Banorte SAB de CV, Class O | | | 28,022 | | | | 194,298 | |
| | |
Grupo Financiero Inbursa SAB de CV*, Class O | | | 14,477 | | | | 34,497 | |
| | |
Grupo Mexico SAB de CV, Series B | | | 30,448 | | | | 156,204 | |
| | |
Industrias Penoles SAB de CV* | | | 1,453 | | | | 17,481 | |
| | |
Kimberly-Clark de Mexico SAB de CV, Class A | | | 25,406 | | | | 41,631 | |
| | |
Prologis Property Mexico SA de CV REIT | | | 12,876 | | | | 41,116 | |
| | |
Wal-Mart de Mexico SAB de CV | | | 82,207 | | | | 262,676 | |
| | |
(Cost $2,236,162) | | | | | | | 1,978,217 | |
| | |
Netherlands — 0.0% | | | | | | | | |
| | |
Nebius Group N.V., Class A *(a) | | | | | | | | |
| | |
(Cost $1,831,428) | | | 28,401 | | | | 0 | |
| | |
Philippines — 0.6% | | | | | | | | |
| | |
Ayala Corp. | | | 3,210 | | | | 34,587 | |
| | |
Ayala Land, Inc. | | | 74,500 | | | | 46,836 | |
| | |
Bank of the Philippine Islands | | | 22,214 | | | | 49,334 | |
| | |
BDO Unibank, Inc. | | | 21,088 | | | | 57,386 | |
| | |
Globe Telecom, Inc. | | | 800 | | | | 31,345 | |
| | |
International Container Terminal Services, Inc. | | | 9,960 | | | | 70,279 | |
| | | | | | | | |
| | | Number
of Shares | | | Value $ | |
| | |
Jollibee Foods Corp. | | | 6,610 | | | | 30,584 | |
| | |
Metropolitan Bank & Trust Co. | | | 13,410 | | | | 17,554 | |
| | |
PLDT, Inc. | | | 1,550 | | | | 41,407 | |
| | |
SM Investments Corp. | | | 4,930 | | | | 77,703 | |
| | |
SM Prime Holdings, Inc. | | | 123,400 | | | | 68,018 | |
| | |
Universal Robina Corp. | | | 5,090 | | | | 8,249 | |
| | |
(Cost $508,443) | | | | | | | 533,282 | |
| | |
Qatar — 0.6% | | | | | | | | |
| | |
Commercial Bank PSQC | | | 27,137 | | | | 30,446 | |
| | |
Dukhan Bank | | | 29,764 | | | | 31,146 | |
| | |
Industries Qatar QSC | | | 21,363 | | | | 75,689 | |
| | |
Masraf Al Rayan QSC | | | 55,483 | | | | 35,048 | |
| | |
Mesaieed Petrochemical Holding Co. | | | 26,410 | | | | 11,968 | |
| | |
Ooredoo QPSC | | | 14,116 | | | | 42,724 | |
| | |
Qatar International Islamic Bank QSC | | | 18,157 | | | | 54,356 | |
| | |
Qatar Islamic Bank QPSC | | | 11,952 | | | | 64,142 | |
| | |
Qatar National Bank QPSC | | | 42,854 | | | | 186,435 | |
| | |
(Cost $516,382) | | | | | | | 531,954 | |
| | |
Russia — 0.0% | | | | | | | | |
| | |
Alrosa PJSC* (a) | | | 246,725 | | | | 0 | |
| | |
GMK Norilskiy Nickel PAO* (a) | | | 559,300 | | | | 0 | |
| | |
Mobile TeleSystems PJSC*, ADR (a) | | | 25,457 | | | | 0 | |
| | |
Mobile TeleSystems PJSC* (a) | | | 32,151 | | | | 0 | |
| | |
Novolipetsk Steel PJSC* (a) | | | 121,611 | | | | 0 | |
| | |
PIK-Spetsializirovannyy Zastroyshchik PAO* (a) | | | 21,692 | | | | 0 | |
| | |
Polyus PJSC* (a) | | | 2,793 | | | | 0 | |
| | |
Sberbank of Russia PJSC* (a) | | | 989,954 | | | | 0 | |
| | |
United Co. RUSAL International PJSC* (a) | | | 255,320 | | | | 0 | |
| | |
(Cost $7,879,354) | | | | | | | 0 | |
| | |
Saudi Arabia — 2.6% | | | | | | | | |
| | |
Advanced Petrochemical Co.* | | | 1,550 | | | | 15,634 | |
| | |
Al Rajhi Bank | | | 19,036 | | | | 446,909 | |
| | |
Al Rajhi Co. For Co.-Operative Insurance* | | | 728 | | | | 39,188 | |
| | |
Alinma Bank | | | 16,444 | | | | 136,719 | |
| | |
Almarai Co. JSC | | | 3,732 | | | | 54,101 | |
| | |
Arab National Bank | | | 12,645 | | | | 65,034 | |
| | |
Arabian Internet & Communications Services Co. | | | 457 | | | | 35,341 | |
| | |
Bank AlBilad | | | 8,693 | | | | 89,186 | |
| | |
Bank Al-Jazira* | | | 7,916 | | | | 37,211 | |
| | |
Banque Saudi Fransi | | | 8,291 | | | | 75,341 | |
| | |
Bupa Arabia for Cooperative Insurance Co. | | | 1,050 | | | | 65,027 | |
| | |
Co. for Cooperative Insurance | | | 748 | | | | 31,454 | |
| | |
Dr Sulaiman Al Habib Medical Services Group Co. | | | 945 | | | | 77,058 | |
| | |
Etihad Etisalat Co. | | | 5,580 | | | | 75,092 | |
See Notes to Financial Statements.
16 | DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | | Value $ | |
| | |
Jarir Marketing Co. | | | 10,334 | | | | 35,194 | |
| | |
Mouwasat Medical Services Co. | | | 1,257 | | | | 34,837 | |
| | |
Nahdi Medical Co. | | | 688 | | | | 24,384 | |
| | |
Riyad Bank | | | 10,444 | | | | 71,805 | |
| | |
Riyadh Cables Group Co. | | | 638 | | | | 18,974 | |
| | |
Sahara International Petrochemical Co. | | | 3,043 | | | | 23,395 | |
| | |
Saudi Awwal Bank | | | 7,132 | | | | 66,234 | |
| | |
Saudi Basic Industries Corp. | | | 12,392 | | | | 247,008 | |
| | |
Saudi Industrial Investment Group | | | 6,779 | | | | 35,154 | |
| | |
Saudi Kayan Petrochemical Co.* | | | 4,676 | | | | 10,729 | |
| | |
Saudi National Bank | | | 27,647 | | | | 257,860 | |
| | |
Saudi Research & Media Group* | | | 563 | | | | 39,428 | |
| | |
Saudi Telecom Co. | | | 29,665 | | | | 339,923 | |
| | |
Savola Group* | | | 1,269 | | | | 8,995 | |
| | |
Yanbu National Petrochemical Co. | | | 4,255 | | | | 45,582 | |
| | |
(Cost $2,210,387) | | | | | | | 2,502,797 | |
| | |
Singapore — 0.0% | | | | | | | | |
| | |
BOC Aviation Ltd., 144A | | | | | | | | |
| | |
(Cost $28,980) | | | 3,710 | | | | 31,961 | |
| | |
South Africa — 2.9% | | | | | | | | |
| | |
Absa Group Ltd. | | | 13,751 | | | | 136,201 | |
| | |
Anglo American Platinum Ltd. | | | 336 | | | | 11,649 | |
| | |
Aspen Pharmacare Holdings Ltd. | | | 6,300 | | | | 85,156 | |
| | |
Bid Corp. Ltd. | | | 5,459 | | | | 138,094 | |
| | |
Bidvest Group Ltd. | | | 3,781 | | | | 62,012 | |
| | |
Capitec Bank Holdings Ltd. | | | 954 | | | | 157,215 | |
| | |
Clicks Group Ltd. | | | 4,258 | | | | 89,618 | |
| | |
Discovery Ltd. | | | 5,878 | | | | 50,652 | |
| | |
FirstRand Ltd. | | | 45,753 | | | | 221,563 | |
| | |
Gold Fields Ltd. | | | 14,417 | | | | 201,326 | |
| | |
Harmony Gold Mining Co. Ltd. | | | 5,466 | | | | 54,882 | |
| | |
Impala Platinum Holdings Ltd. | | | 7,076 | | | | 30,687 | |
| | |
Investec Ltd. | | | 4,306 | | | | 32,891 | |
| | |
MTN Group Ltd. | | | 27,733 | | | | 138,798 | |
| | |
MultiChoice Group* | | | 6,273 | | | | 38,949 | |
| | |
Naspers Ltd., Class N | | | 2,910 | | | | 602,774 | |
| | |
Nedbank Group Ltd. | | | 3,107 | | | | 51,919 | |
| | |
Northam Platinum Holdings Ltd. | | | 2,507 | | | | 14,887 | |
| | |
OUTsurance Group Ltd. | | | 10,003 | | | | 26,891 | |
| | |
Pepkor Holdings Ltd., 144A | | | 18,454 | | | | 22,762 | |
| | |
Sanlam Ltd. | | | 26,560 | | | | 132,972 | |
| | |
Shoprite Holdings Ltd. | | | 5,242 | | | | 91,548 | |
| | |
Sibanye Stillwater Ltd. | | | 29,873 | | | | 28,990 | |
| | |
Standard Bank Group Ltd. | | | 12,198 | | | | 164,884 | |
| | |
Vodacom Group Ltd. | | | 11,384 | | | | 70,554 | |
| | |
Woolworths Holdings Ltd. | | | 16,135 | | | | 58,760 | |
| | |
(Cost $2,737,349) | | | | | | | 2,716,634 | |
| | | | | | | | |
| | | Number
of Shares | | | Value $ | |
| | |
South Korea — 9.9% | | | | | | | | |
| | |
Alteogen, Inc.* | | | 411 | | | | 98,146 | |
| | |
Amorepacific Corp. | | | 302 | | | | 28,124 | |
| | |
AMOREPACIFIC Group | | | 216 | | | | 4,026 | |
| | |
BNK Financial Group, Inc. | | | 1,430 | | | | 10,876 | |
| | |
Celltrion Pharm, Inc.* | | | 386 | | | | 19,938 | |
| | |
Celltrion, Inc. | | | 2,471 | | | | 375,501 | |
| | |
Cheil Worldwide, Inc. | | | 1,128 | | | | 15,334 | |
| | |
CJ CheilJedang Corp. | | | 30 | | | | 7,231 | |
| | |
CJ Corp. | | | 108 | | | | 9,047 | |
| | |
CJ ENM Co. Ltd.* | | | 241 | | | | 13,098 | |
| | |
CJ Logistics Corp. | | | 47 | | | | 3,318 | |
| | |
CosmoAM&T Co. Ltd.* | | | 371 | | | | 29,772 | |
| | |
Coway Co. Ltd. | | | 579 | | | | 29,127 | |
| | |
Daewoo Engineering & Construction Co. Ltd.* | | | 112 | | | | 338 | |
| | |
DB HiTek Co. Ltd. | | | 184 | | | | 5,613 | |
| | |
DB Insurance Co. Ltd. | | | 109 | | | | 9,465 | |
| | |
Dongsuh Cos., Inc. | | | 112 | | | | 1,562 | |
| | |
Doosan Co. Ltd. | | | 100 | | | | 11,191 | |
| | |
Doosan Enerbility Co. Ltd.* | | | 3,695 | | | | 50,065 | |
| | |
Doosan Fuel Cell Co. Ltd.* | | | 573 | | | | 8,021 | |
| | |
Doosan Robotics, Inc.* | | | 250 | | | | 13,175 | |
| | |
Ecopro BM Co. Ltd.* | | | 325 | | | | 40,946 | |
| | |
Ecopro Materials Co. Ltd.* | | | 369 | | | | 25,082 | |
| | |
E-MART, Inc. | | | 175 | | | | 8,345 | |
| | |
Enchem Co. Ltd.* | | | 233 | | | | 33,402 | |
| | |
F&F Co. Ltd. / New | | | 251 | | | | 11,011 | |
| | |
Fila Holdings Corp. | | | 814 | | | | 25,806 | |
| | |
Green Cross Corp. | | | 159 | | | | 20,341 | |
| | |
Hana Financial Group, Inc. | | | 4,698 | | | | 217,694 | |
| | |
Hanjin Kal Corp. | | | 419 | | | | 21,548 | |
| | |
Hankook Tire & Technology Co. Ltd. | | | 47 | | | | 1,527 | |
| | |
Hanmi Pharm. Co. Ltd. | | | 94 | | | | 22,201 | |
| | |
Hanmi Science Co. Ltd. | | | 614 | | | | 15,145 | |
| | |
Hanmi Semiconductor Co. Ltd. | | | 631 | | | | 54,085 | |
| | |
Hanon Systems | | | 2,302 | | | | 6,971 | |
| | |
Hansol Chemical Co. Ltd. | | | 133 | | | | 14,357 | |
| | |
Hanwha Solutions Corp. | | | 1,505 | | | | 29,067 | |
| | |
HD Hyundai Infracore Co. Ltd.* | | | 63 | | | | 339 | |
| | |
HLB, Inc.* | | | 1,236 | | | | 83,088 | |
| | |
HMM Co. Ltd. | | | 1,190 | | | | 15,117 | |
| | |
Hugel, Inc.* | | | 114 | | | | 23,255 | |
| | |
HYBE Co. Ltd. | | | 399 | | | | 55,078 | |
| | |
Hyundai Autoever Corp. | | | 153 | | | | 18,474 | |
| | |
Hyundai Engineering & Construction Co. Ltd. | | | 595 | | | | 14,253 | |
| | |
Hyundai Glovis Co. Ltd. | | | 303 | | | | 25,404 | |
| | |
Hyundai Mobis Co. Ltd. | | | 490 | | | | 79,781 | |
| | |
Hyundai Motor Co. | | | 1,305 | | | | 249,599 | |
| | |
Industrial Bank of Korea | | | 3,119 | | | | 32,244 | |
See Notes to Financial Statements.
DBX ETF Trust | 17
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | | Value $ | |
| | |
JYP Entertainment Corp. | | | 606 | | | | 23,181 | |
| | |
Kakao Corp. | | | 5,121 | | | | 142,607 | |
| | |
Kakao Games Corp.* | | | 1,366 | | | | 18,682 | |
| | |
KakaoBank Corp. | | | 1,822 | | | | 30,143 | |
| | |
Kakaopay Corp.* | | | 976 | | | | 18,375 | |
| | |
KB Financial Group, Inc. | | | 5,985 | | | | 384,857 | |
| | |
KCC Corp. | | | 2 | | | | 429 | |
| | |
KEPCO Engineering & Construction Co., Inc. | | | 409 | | | | 20,544 | |
| | |
KEPCO Plant Service & Engineering Co. Ltd. | | | 275 | | | | 8,574 | |
| | |
Kia Corp. | | | 1,910 | | | | 151,702 | |
| | |
KIWOOM Securities Co. Ltd. | | | 234 | | | | 23,665 | |
| | |
Korea Investment Holdings Co. Ltd. | | | 883 | | | | 48,121 | |
| | |
Korea Zinc Co. Ltd. | | | 32 | | | | 12,816 | |
| | |
Korean Air Lines Co. Ltd. | | | 491 | | | | 8,105 | |
| | |
Krafton, Inc.* | | | 501 | | | | 122,639 | |
| | |
KT Corp. | | | 1,232 | | | | 35,599 | |
| | |
KT&G Corp. | | | 1,788 | | | | 144,823 | |
| | |
Kum Yang Co. Ltd.* | | | 534 | | | | 18,508 | |
| | |
Kumho Petrochemical Co. Ltd. | | | 26 | | | | 2,664 | |
| | |
L&F Co. Ltd.* | | | 323 | | | | 22,680 | |
| | |
LEENO Industrial, Inc. | | | 150 | | | | 21,975 | |
| | |
LG Chem Ltd. | | | 469 | | | | 112,875 | |
| | |
LG Corp. | | | 236 | | | | 13,992 | |
| | |
LG Display Co. Ltd.* | | | 2,926 | | | | 24,664 | |
| | |
LG Electronics, Inc. | | | 1,087 | | | | 80,883 | |
| | |
LG Energy Solution Ltd.* | | | 554 | | | | 160,910 | |
| | |
LG H&H Co. Ltd. | | | 42 | | | | 11,146 | |
| | |
LG Innotek Co. Ltd. | | | 283 | | | | 58,894 | |
| | |
LG Uplus Corp. | | | 3,623 | | | | 26,443 | |
| | |
Lotte Energy Materials Corp. | | | 415 | | | | 12,162 | |
| | |
Lotte Shopping Co. Ltd. | | | 223 | | | | 10,417 | |
| | |
LS Electric Co. Ltd. | | | 79 | | | | 9,870 | |
| | |
Meritz Financial Group, Inc. | | | 1,324 | | | | 90,490 | |
| | |
Mirae Asset Securities Co. Ltd. | | | 6,327 | | | | 39,596 | |
| | |
NAVER Corp. | | | 2,659 | | | | 336,592 | |
| | |
NCSoft Corp. | | | 281 | | | | 39,462 | |
| | |
Netmarble Corp.*, 144A | | | 301 | | | | 13,722 | |
| | |
NH Investment & Securities Co. Ltd. | | | 2,806 | | | | 28,693 | |
| | |
Orion Corp. | | | 127 | | | | 8,746 | |
| | |
Pan Ocean Co. Ltd. | | | 1,462 | | | | 4,055 | |
| | |
Pearl Abyss Corp.* | | | 768 | | | | 19,547 | |
| | |
Posco DX Co. Ltd. | | | 881 | | | | 17,543 | |
| | |
POSCO Future M Co. Ltd. | | | 314 | | | | 50,420 | |
| | |
S-1 Corp. | | | 293 | | | | 13,007 | |
| | |
Sam Chun Dang Pharm Co. Ltd.* | | | 248 | | | | 29,333 | |
| | |
Samsung Biologics Co. Ltd.*, 144A | | | 296 | | | | 217,150 | |
| | |
Samsung C&T Corp. | | | 714 | | | | 78,944 | |
| | | | | | | | |
| | | Number
of Shares | | | Value $ | |
| | |
Samsung Card Co. Ltd. | | | 748 | | | | 24,330 | |
| | |
Samsung E&A Co. Ltd.* | | | 2,068 | | | | 39,244 | |
| | |
Samsung Electro-Mechanics Co. Ltd. | | | 947 | | | | 101,233 | |
| | |
Samsung Electronics Co. Ltd. | | | 45,034 | | | | 2,504,792 | |
| | |
Samsung Fire & Marine Insurance Co. Ltd. | | | 386 | | | | 100,123 | |
| | |
Samsung Life Insurance Co. Ltd. | | | 941 | | | | 68,470 | |
| | |
Samsung SDI Co. Ltd. | | | 851 | | | | 225,515 | |
| | |
Samsung SDS Co. Ltd. | | | 584 | | | | 65,882 | |
| | |
Samsung Securities Co. Ltd. | | | 1,317 | | | | 46,583 | |
| | |
Samyang Foods Co. Ltd. | | | 49 | | | | 18,139 | |
| | |
Shinhan Financial Group Co. Ltd. | | | 7,179 | | | | 301,487 | |
| | |
Shinsegae, Inc. | | | 110 | | | | 12,401 | |
| | |
SK Biopharmaceuticals Co. Ltd.* | | | 780 | | | | 67,148 | |
| | |
SK Bioscience Co. Ltd.* | | | 678 | | | | 28,169 | |
| | |
SK Hynix, Inc. | | | 5,150 | | | | 669,652 | |
| | |
SK IE Technology Co. Ltd.*, 144A | | | 785 | | | | 19,333 | |
| | |
SK Innovation Co. Ltd.* | | | 265 | | | | 21,821 | |
| | |
SK Square Co. Ltd.* | | | 1,534 | | | | 90,144 | |
| | |
SK Telecom Co. Ltd. | | | 1,764 | | | | 72,892 | |
| | |
SKC Co. Ltd.* | | | 159 | | | | 15,330 | |
| | |
Soulbrain Co. Ltd. | | | 54 | | | | 9,580 | |
| | |
Wemade Co. Ltd.* | | | 561 | | | | 13,985 | |
| | |
WONIK IPS Co. Ltd.* | | | 335 | | | | 8,564 | |
| | |
Woori Financial Group, Inc. | | | 6,510 | | | | 78,070 | |
| | |
Yuhan Corp. | | | 1,058 | | | | 111,673 | |
| | |
(Cost $8,214,935) | | | | | | | 9,371,933 | |
| | |
Taiwan — 19.9% | | | | | | | | |
| | |
Accton Technology Corp. | | | 6,580 | | | | 104,490 | |
| | |
Acer, Inc. | | | 36,542 | | | | 49,975 | |
| | |
Advantech Co. Ltd. | | | 7,133 | | | | 77,819 | |
| | |
Airtac International Group | | | 1,383 | | | | 37,396 | |
| | |
Alchip Technologies Ltd. | | | 932 | | | | 77,205 | |
| | |
ASE Technology Holding Co. Ltd. | | | 57,577 | | | | 276,276 | |
| | |
Asia Cement Corp. | | | 820 | | | | 1,156 | |
| | |
Asia Vital Components Co. Ltd. | | | 4,505 | | | | 85,340 | |
| | |
ASMedia Technology, Inc. | | | 505 | | | | 27,942 | |
| | |
ASPEED Technology, Inc. | | | 484 | | | | 74,590 | |
| | |
Asustek Computer, Inc. | | | 10,836 | | | | 181,898 | |
| | |
AUO Corp.* | | | 94,874 | | | | 48,786 | |
| | |
Catcher Technology Co. Ltd. | | | 7,067 | | | | 52,135 | |
| | |
Cathay Financial Holding Co. Ltd. | | | 183,153 | | | | 363,558 | |
| | |
Chailease Holding Co. Ltd. | | | 26,261 | | | | 119,443 | |
| | |
Chang Hwa Commercial Bank Ltd. | | | 72,620 | | | | 40,067 | |
| | |
Chicony Electronics Co. Ltd. | | | 10,639 | | | | 53,877 | |
| | |
China Airlines Ltd. | | | 173 | | | | 111 | |
| | |
China Steel Corp. | | | 86,617 | | | | 60,245 | |
| | |
Chroma ATE, Inc. | | | 4,630 | | | | 47,255 | |
| | |
Chunghwa Telecom Co. Ltd. | | | 63,137 | | | | 244,732 | |
See Notes to Financial Statements.
18 | DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | | Value $ | |
| | |
Compal Electronics, Inc. | | | 497 | | | | 516 | |
| | |
CTBC Financial Holding Co. Ltd. | | | 287,454 | | | | 293,385 | |
| | |
Delta Electronics, Inc. | | | 31,613 | | | | 394,792 | |
| | |
E Ink Holdings, Inc. | | | 12,852 | | | | 122,534 | |
| | |
E.Sun Financial Holding Co. Ltd. | | | 252,429 | | | | 222,523 | |
| | |
Eclat Textile Co. Ltd. | | | 3,755 | | | | 62,916 | |
| | |
Elite Material Co. Ltd. | | | 4,877 | | | | 70,891 | |
| | |
eMemory Technology, Inc. | | | 897 | | | | 73,885 | |
| | |
Eva Airways Corp. | | | 13,669 | | | | 15,105 | |
| | |
Evergreen Marine Corp. Taiwan Ltd. | | | 2,313 | | | | 13,593 | |
| | |
Far Eastern New Century Corp. | | | 24,503 | | | | 27,766 | |
| | |
Far EasTone Telecommunications Co. Ltd. | | | 32,629 | | | | 92,308 | |
| | |
Feng TAY Enterprise Co. Ltd. | | | 11,706 | | | | 53,425 | |
| | |
First Financial Holding Co. Ltd. | | | 175,225 | | | | 149,262 | |
| | |
Formosa Chemicals & Fibre Corp. | | | 27,223 | | | | 37,273 | |
| | |
Formosa Plastics Corp. | | | 43,743 | | | | 70,558 | |
| | |
Formosa Sumco Technology Corp. | | | 1,069 | | | | 4,962 | |
| | |
Fortune Electric Co. Ltd. | | | 2,033 | | | | 42,389 | |
| | |
Foxconn Technology Co. Ltd. | | | 14,914 | | | | 31,889 | |
| | |
Fubon Financial Holding Co. Ltd. | | | 133,249 | | | | 382,794 | |
| | |
Giant Manufacturing Co. Ltd. | | | 5,401 | | | | 40,351 | |
| | |
Gigabyte Technology Co. Ltd. | | | 5,000 | | | | 40,794 | |
| | |
Global Unichip Corp. | | | 1,129 | | | | 39,351 | |
| | |
Globalwafers Co. Ltd. | | | 3,401 | | | | 51,509 | |
| | |
Gold Circuit Electronics Ltd. | | | 5,054 | | | | 33,335 | |
| | |
Highwealth Construction Corp. | | | 24,273 | | | | 42,263 | |
| | |
Hiwin Technologies Corp. | | | 450 | | | | 3,038 | |
| | |
Hon Hai Precision Industry Co. Ltd. | | | 107,879 | | | | 622,184 | |
| | |
Hotai Motor Co. Ltd. | | | 4,269 | | | | 88,076 | |
| | |
Hua Nan Financial Holdings Co. Ltd. | | | 145,090 | | | | 115,655 | |
| | |
Innolux Corp.* | | | 97,042 | | | | 47,929 | |
| | |
International Games System Co. Ltd. | | | 4,067 | | | | 99,037 | |
| | |
Inventec Corp. | | | 51,447 | | | | 73,335 | |
| | |
Jentech Precision Industrial Co. Ltd. | | | 1,540 | | | | 65,230 | |
| | |
KGI Financial Holding Co. Ltd. | | | 267,080 | | | | 134,417 | |
| | |
King Slide Works Co. Ltd. | | | 1,000 | | | | 39,544 | |
| | |
King Yuan Electronics Co. Ltd. | | | 14,235 | | | | 53,843 | |
| | |
Largan Precision Co. Ltd. | | | 918 | | | | 89,533 | |
| | |
Lite-On Technology Corp. | | | 31,180 | | | | 104,291 | |
| | |
Lotes Co. Ltd. | | | 1,348 | | | | 64,471 | |
| | |
Macronix International Co. Ltd. | | | 5,453 | | | | 4,722 | |
| | |
MediaTek, Inc. | | | 14,418 | | | | 558,872 | |
| | |
Mega Financial Holding Co. Ltd. | | | 195,936 | | | | 238,565 | |
| | |
Merida Industry Co. Ltd. | | | 4,066 | | | | 30,632 | |
| | |
Micro-Star International Co. Ltd. | | | 10,868 | | | | 62,341 | |
| | | | | | | | |
| | | Number
of Shares | | | Value $ | |
| | |
momo.com, Inc. | | | 1,117 | | | | 13,618 | |
| | |
Nan Ya Plastics Corp. | | | 49,857 | | | | 70,601 | |
| | |
Nan Ya Printed Circuit Board Corp. | | | 3,344 | | | | 15,366 | |
| | |
Nanya Technology Corp.* | | | 21,618 | | | | 35,613 | |
| | |
Nien Made Enterprise Co. Ltd. | | | 3,531 | | | | 51,878 | |
| | |
Novatek Microelectronics Corp. | | | 5,704 | | | | 96,285 | |
| | |
Oneness Biotech Co. Ltd.* | | | 6,347 | | | | 32,142 | |
| | |
Pegatron Corp. | | | 24,295 | | | | 77,844 | |
| | |
PharmaEssentia Corp.* | | | 4,058 | | | | 88,670 | |
| | |
Phison Electronics Corp. | | | 1,485 | | | | 24,696 | |
| | |
Polaris Group* | | | 2,991 | | | | 5,946 | |
| | |
Pou Chen Corp. | | | 28,140 | | | | 30,568 | |
| | |
Powerchip Semiconductor Manufacturing Corp.* | | | 32,756 | | | | 22,117 | |
| | |
Powertech Technology, Inc. | | | 8,011 | | | | 36,436 | |
| | |
Quanta Computer, Inc. | | | 37,247 | | | | 312,041 | |
| | |
Realtek Semiconductor Corp. | | | 4,293 | | | | 71,796 | |
| | |
Ruentex Development Co. Ltd. | | | 27,522 | | | | 42,371 | |
| | |
Ruentex Industries Ltd. | | | 11,184 | | | | 28,423 | |
| | |
Shanghai Commercial & Savings Bank Ltd. | | | 64,658 | | | | 81,353 | |
| | |
Shihlin Electric & Engineering Corp. | | | 2,000 | | | | 13,786 | |
| | |
Shin Kong Financial Holding Co. Ltd.* | | | 261,413 | | | | 105,415 | |
| | |
Sino-American Silicon Products, Inc. | | | 6,012 | | | | 37,399 | |
| | |
SinoPac Financial Holdings Co. Ltd. | | | 174,330 | | | | 130,788 | |
| | |
Synnex Technology International Corp. | | | 9,482 | | | | 21,371 | |
| | |
TA Chen Stainless Pipe | | | 93 | | | | 106 | |
| | |
Taishin Financial Holding Co. Ltd. | | | 151,124 | | | | 87,396 | |
| | |
Taiwan Business Bank | | | 85,543 | | | | 42,250 | |
| | |
Taiwan Cooperative Financial Holding Co. Ltd. | | | 121,881 | | | | 98,678 | |
| | |
Taiwan Fertilizer Co. Ltd. | | | 850 | | | | 1,592 | |
| | |
Taiwan High Speed Rail Corp. | | | 43,474 | | | | 40,634 | |
| | |
Taiwan Mobile Co. Ltd. | | | 38,876 | | | | 136,109 | |
| | |
Taiwan Semiconductor Manufacturing Co. Ltd. | | | 290,128 | | | | 8,561,451 | |
| | |
Tatung Co. Ltd.* | | | 22,274 | | | | 31,890 | |
| | |
TCC Group Holdings Co. Ltd. | | | 34,670 | | | | 35,710 | |
| | |
Teco Electric and Machinery Co. Ltd. | | | 2,261 | | | | 3,467 | |
| | |
Tripod Technology Corp. | | | 5,735 | | | | 37,020 | |
| | |
Unimicron Technology Corp. | | | 16,205 | | | | 82,823 | |
| | |
Uni-President Enterprises Corp. | | | 37,211 | | | | 96,081 | |
| | |
United Microelectronics Corp. | | | 183,789 | | | | 318,859 | |
| | |
Vanguard International Semiconductor Corp. | | | 14,755 | | | | 56,732 | |
| | |
VisEra Technologies Co. Ltd. | | | 2,140 | | | | 20,671 | |
See Notes to Financial Statements.
DBX ETF Trust | 19
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | | Value $ | |
| | |
Voltronic Power Technology Corp. | | | 594 | | | | 37,044 | |
| | |
Walsin Lihwa Corp. | | | 624 | | | | 686 | |
| | |
Walsin Technology Corp. | | | 5,015 | | | | 17,323 | |
| | |
Wan Hai Lines Ltd. | | | 1,039 | | | | 2,692 | |
| | |
Win Semiconductors Corp.* | | | 5,206 | | | | 22,295 | |
| | |
Winbond Electronics Corp. | | | 27,183 | | | | 20,436 | |
| | |
Wistron Corp. | | | 40,163 | | | | 127,432 | |
| | |
Wiwynn Corp. | | | 1,218 | | | | 72,341 | |
| | |
WPG Holdings Ltd. | | | 9,511 | | | | 24,142 | |
| | |
WT Microelectronics Co. Ltd. | | | 10,999 | | | | 40,571 | |
| | |
Yageo Corp. | | | 4,571 | | | | 93,878 | |
| | |
Yang Ming Marine Transport Corp. | | | 1,164 | | | | 2,347 | |
| | |
Yuanta Financial Holding Co. Ltd. | | | 193,625 | | | | 193,080 | |
| | |
Yulon Finance Corp. | | | 7,141 | | | | 32,145 | |
| | |
Yulon Motor Co. Ltd. | | | 6,606 | | | | 11,254 | |
| | |
Zhen Ding Technology Holding Ltd. | | | 8,530 | | | | 36,131 | |
| | |
(Cost $13,015,513) | | | | | | | 18,762,169 | |
| | |
Thailand — 1.8% | | | | | | | | |
| | |
Advanced Info Service PCL, NVDR | | | 18,700 | | | | 136,472 | |
| | |
Airports of Thailand PCL, NVDR | | | 48,400 | | | | 85,445 | |
| | |
Asset World Corp. PCL, NVDR | | | 185,100 | | | | 18,157 | |
| | |
Bangkok Bank PCL, NVDR | | | 6,800 | | | | 28,329 | |
| | |
Bangkok Dusit Medical Services PCL, NVDR | | | 188,200 | | | | 154,308 | |
| | |
Bangkok Expressway & Metro PCL, NVDR | | | 119,400 | | | | 26,988 | |
| | |
Berli Jucker PCL, NVDR | | | 22,100 | | | | 14,692 | |
| | |
BTS Group Holdings PCL, NVDR* | | | 144,700 | | | | 18,128 | |
| | |
Bumrungrad Hospital PCL, NVDR | | | 10,800 | | | | 78,180 | |
| | |
Carabao Group PCL, NVDR | | | 6,300 | | | | 12,797 | |
| | |
Central Pattana PCL, NVDR | | | 36,000 | | | | 63,288 | |
| | |
Central Retail Corp. PCL, NVDR | | | 47,200 | | | | 41,140 | |
| | |
Charoen Pokphand Foods PCL, NVDR | | | 11,800 | | | | 8,577 | |
| | |
Com7 PCL, NVDR | | | 12,800 | | | | 9,266 | |
| | |
CP ALL PCL, NVDR | | | 92,800 | | | | 165,886 | |
| | |
CP Axtra PCL, NVDR | | | 28,400 | | | | 26,013 | |
| | |
Delta Electronics Thailand PCL, NVDR | | | 75,600 | | | | 237,890 | |
| | |
Energy Absolute PCL, NVDR | | | 36,500 | | | | 7,118 | |
| | |
Home Product Center PCL, NVDR | | | 85,600 | | | | 22,889 | |
| | |
Indorama Ventures PCL, NVDR | | | 4,800 | | | | 2,425 | |
| | |
Intouch Holdings PCL, NVDR | | | 20,100 | | | | 48,995 | |
| | |
Kasikornbank PCL, NVDR | | | 5,100 | | | | 21,548 | |
| | |
KCE Electronics PCL, NVDR | | | 10,100 | | | | 11,340 | |
| | |
Krung Thai Bank PCL, NVDR | | | 28,100 | | | | 15,194 | |
| | | | | | | | |
| | | Number
of Shares | | | Value $ | |
| | |
Krungthai Card PCL, NVDR | | | 15,700 | | | | 19,367 | |
| | |
Land & Houses PCL, NVDR | | | 191,600 | | | | 31,985 | |
| | |
Minor International PCL, NVDR | | | 63,983 | | | | 51,043 | |
| | |
Muangthai Capital PCL, NVDR | | | 15,500 | | | | 20,036 | |
| | |
Ngern Tid Lor PCL, NVDR | | | 51,614 | | | | 25,163 | |
| | |
Osotspa PCL, NVDR | | | 19,100 | | | | 12,641 | |
| | |
PTT Global Chemical PCL, NVDR | | | 6,800 | | | | 5,023 | |
| | |
SCB X PCL, NVDR | | | 8,200 | | | | 25,924 | |
| | |
Siam Global House PCL, NVDR | | | 21,509 | | | | 9,406 | |
| | |
Srisawad Corp. PCL, NVDR | | | 27,180 | | | | 30,517 | |
| | |
Thai Beverage PCL | | | 136,100 | | | | 55,340 | |
| | |
Thai Life Insurance PCL, NVDR | | | 32,700 | | | | 7,536 | |
| | |
Thai Union Group PCL, NVDR | | | 23,700 | | | | 10,994 | |
| | |
Tisco Financial Group PCL, NVDR | | | 5,800 | | | | 16,366 | |
| | |
TMBThanachart Bank PCL, NVDR | | | 262,277 | | | | 14,336 | |
| | |
True Corp. PCL, NVDR* | | | 247,169 | | | | 75,221 | |
| | |
WHA Corp. PCL, NVDR | | | 175,200 | | | | 27,436 | |
| | |
(Cost $1,880,967) | | | | | | | 1,693,399 | |
| | |
Turkey — 0.8% | | | | | | | | |
| | |
Akbank TAS | | | 22,225 | | | | 38,033 | |
| | |
Akfen Yenilenebilir Enerji AS* | | | 16,300 | | | | 10,440 | |
| | |
Anadolu Anonim Turk Sigorta Sirketi* | | | 2,117 | | | | 4,778 | |
| | |
Anadolu Efes Biracilik Ve Malt Sanayii AS | | | 2,728 | | | | 17,832 | |
| | |
Astor Transformator Enerji Turizm Insaat Ve Petrol Sanayi Ticaret AS | | | 3,946 | | | | 8,745 | |
| | |
Aydem Yenilenebilir Enerji AS | | | 8,210 | | | | 6,135 | |
| | |
Bera Holding AS | | | 11,047 | | | | 4,802 | |
| | |
BIM Birlesik Magazalar AS | | | 6,752 | | | | 107,022 | |
| | |
Borusan Yatirim ve Pazarlama AS | | | 240 | | | | 12,856 | |
| | |
Bosch Fren Sistemleri Sanayi ve Ticaret AS | | | 610 | | | | 13,031 | |
| | |
Celebi Hava Servisi AS | | | 158 | | | | 8,617 | |
| | |
Coca-Cola Icecek AS | | | 11,039 | | | | 19,733 | |
| | |
Deva Holding AS | | | 5,130 | | | | 10,285 | |
| | |
Dogus Otomotiv Servis Ve Ticaret AS | | | 2,208 | | | | 15,509 | |
| | |
Eczacibasi Yatirim Holding Ortakligi AS | | | 579 | | | | 3,600 | |
| | |
Ege Endustri Ve Ticaret AS | | | 16 | | | | 4,757 | |
| | |
Eis Eczacibasi Ilac Ve Sinai Ve Finansal Yatirimlar Sanayi Ve Ticaret AS | | | 9,744 | | | | 14,129 | |
| | |
Emlak Konut Gayrimenkul Yatirim Ortakligi AS* REIT | | | 31,008 | | | | 10,631 | |
| | |
Girisim Elektrik Taahhut Ticaret VE Sanayi AS* | | | 4,942 | | | | 6,322 | |
| | |
Haci Omer Sabanci Holding AS | | | 15,019 | | | | 38,795 | |
| | |
Hektas Ticaret TAS* | | | 24,453 | | | | 8,369 | |
See Notes to Financial Statements.
20 | DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | | Value $ | |
| | |
Is Gayrimenkul Yatirim Ortakligi AS* REIT | | | 32,422 | | | | 15,132 | |
| | |
Is Yatirim Menkul Degerler AS | | | 17,919 | | | | 19,125 | |
| | |
Kiler Holding AS* | | | 16,159 | | | | 15,168 | |
| | |
Kontrolmatik Enerji Ve Muhendislik AS* | | | 3,542 | | | | 5,117 | |
| | |
Koza Altin Isletmeleri AS* | | | 23,225 | | | | 17,138 | |
| | |
Mavi Giyim Sanayi Ve Ticaret AS, Class B, 144A | | | 5,425 | | | | 16,800 | |
| | |
MIA Teknoloji AS* | | | 9,934 | | | | 14,142 | |
| | |
MLP Saglik Hizmetleri AS*, 144A | | | 2,417 | | | | 23,394 | |
| | |
Pegasus Hava Tasimaciligi AS* | | | 2,216 | | | | 14,784 | |
| | |
Reeder Teknoloji Sanayi VE Ticaret AS* | | | 13,189 | | | | 13,131 | |
| | |
Reysas Tasimacilik VE Lojistik Ticaret AS* | | | 7,667 | | | | 10,465 | |
| | |
Sarkuysan Elektrolitik Bakir Sanayi Ve Ticaret AS | | | 9,470 | | | | 6,516 | |
| | |
Sasa Polyester Sanayi AS* | | | 139,166 | | | | 20,098 | |
| | |
Selcuk Ecza Deposu Ticaret Ve Sanayi AS | | | 2,123 | | | | 3,396 | |
| | |
Smart Gunes Enerjisi Teknolojileri ArGe Uretim Sanayi VE Ticaret AS* | | | 7,629 | | | | 9,696 | |
| | |
TAV Havalimanlari Holding AS* | | | 3,079 | | | | 22,585 | |
| | |
Torunlar Gayrimenkul Yatirim Ortakligi AS REIT | | | 6,210 | | | | 8,731 | |
| | |
Turk Hava Yollari AO* | | | 4,673 | | | | 41,218 | |
| | |
Turk Telekomunikasyon AS* | | | 10,260 | | | | 14,564 | |
| | |
Turkcell Iletisim Hizmetleri AS | | | 22,236 | | | | 64,192 | |
| | |
Turkiye Is Bankasi AS, Class C | | | 72,640 | | | | 28,187 | |
| | |
Turkiye Sigorta AS | | | 28,143 | | | | 10,392 | |
| | |
Turkiye Sinai Kalkinma Bankasi AS* | | | 24,236 | | | | 8,217 | |
| | |
(Cost $712,346) | | | | | | | 766,609 | |
| | |
United Arab Emirates — 2.2% | | | | | | | | |
| | |
Abu Dhabi Commercial Bank PJSC | | | 30,613 | | | | 73,013 | |
| | |
Abu Dhabi Islamic Bank PJSC | | | 20,237 | | | | 69,534 | |
| | |
Aldar Properties PJSC | | | 40,764 | | | | 81,464 | |
| | |
Alpha Dhabi Holding PJSC* | | | 20,853 | | | | 68,130 | |
| | |
Borouge PLC | | | 38,544 | | | | 26,445 | |
| | |
Dubai Islamic Bank PJSC | | | 21,651 | | | | 36,371 | |
| | |
Emaar Properties PJSC | | | 63,726 | | | | 146,437 | |
| | |
Emirates NBD Bank PJSC | | | 24,063 | | | | 129,064 | |
| | |
Emirates Telecommunications Group Co. PJSC | | | 57,797 | | | | 285,452 | |
| | |
First Abu Dhabi Bank PJSC | | | 44,112 | | | | 160,936 | |
| | |
International Holding Co. PJSC* | | | 9,426 | | | | 1,037,068 | |
| | |
(Cost $1,686,512) | | | | | | | 2,113,914 | |
| | |
United States — 0.2% | | | | | | | | |
| | |
BeiGene Ltd.*, ADR | | | 296 | | | | 56,767 | |
| | |
BeiGene Ltd.* | | | 3,283 | | | | 49,200 | |
| | |
BeiGene Ltd.*, Class A | | | 719 | | | | 14,759 | |
| | | | | | | | |
| | | Number
of Shares | | | Value $ | |
| | |
Parade Technologies Ltd. | | | 1,089 | | | | 27,336 | |
| | |
(Cost $168,027) | | | | | | | 148,062 | |
| | |
TOTAL COMMON STOCKS
(Cost $95,911,581) | | | | | | | 91,171,177 | |
| | |
PREFERRED STOCKS — 1.4% | | | | | | | | |
| | |
Brazil — 0.7% | | | | | | | | |
| | |
Banco Bradesco SA | | | 53,987 | | | | 149,093 | |
| | |
Centrais Eletricas Brasileiras SA, Class B | | | 4,944 | | | | 40,280 | |
| | |
Cia Energetica de Minas Gerais | | | 26,685 | | | | 54,800 | |
| | |
Companhia Paranaense de Energia, Class B | | | 18,087 | | | | 33,310 | |
| | |
Itau Unibanco Holding SA | | | 48,609 | | | | 315,002 | |
| | |
Itausa SA | | | 56,248 | | | | 108,855 | |
| | |
Klabin SA | | | 2 | | | | 2 | |
| | |
(Cost $577,873) | | | | | | | 701,342 | |
| | |
Chile — 0.1% | | | | | | | | |
| | |
Sociedad Quimica y Minera de Chile SA, Class B | | | | | | | | |
| | |
(Cost $75,099) | | | 1,563 | | | | 60,686 | |
| | |
Colombia — 0.1% | | | | | | | | |
| | |
Bancolombia SA | | | | | | | | |
| | |
(Cost $55,116) | | | 7,961 | | | | 66,497 | |
| | |
Russia — 0.0% | | | | | | | | |
| | |
Sberbank of Russia PJSC *(a) | | | | | | | | |
| | |
(Cost $275,893) | | | 71,636 | | | | 0 | |
| | |
South Korea — 0.5% | | | | | | | | |
| | |
Doosan Co. Ltd. | | | 136 | | | | 8,033 | |
| | |
Hyundai Motor Co. | | | 159 | | | | 21,603 | |
| | |
Hyundai Motor Co. - 2nd Preferred | | | 200 | | | | 27,698 | |
| | |
LG Chem Ltd. | | | 108 | | | | 17,503 | |
| | |
Samsung Electronics Co. Ltd. | | | 7,897 | | | | 354,695 | |
| | |
(Cost $404,037) | | | | | | | 429,532 | |
| | |
TOTAL PREFERRED STOCKS
(Cost $1,388,018) | | | | | | | 1,258,057 | |
| | |
RIGHTS — 0.0% | | | | | | | | |
| | |
Brazil — 0.0% | | | | | | | | |
| | |
Equatorial Energia SA* , expires 10/4/24 | | | | | | | | |
| | |
(Cost $0) | | | 325 | | | | 109 | |
| | |
Saudi Arabia — 0.0% | | | | | | | | |
| | |
Savola Group* , expires 9/24/24 | | | | | | | | |
| | |
(Cost $4,968) | | | 1,425 | | | | 6,045 | |
| | |
Thailand — 0.0% | | | | | | | | |
| | |
BTS Group Holdings* , expires 10/31/24 (a) | | | | | | | | |
See Notes to Financial Statements.
DBX ETF Trust | 21
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | | Value $ | |
| | |
(Cost $0) | | | 31,622 | | | | 0 | |
| | |
TOTAL RIGHTS | | | | | | | | |
(Cost $4,968) | | | | | | | 6,154 | |
| | |
WARRANTS — 0.0% | | | | | | | | |
| | |
Thailand — 0.0% | | | | | | | | |
| | |
BTS Group Holdings PCL*, expires 11/7/24 | | | 400 | | | | 0 | |
| | |
BTS Group Holdings PCL*, expires 11/20/26 | | | 800 | | | | 2 | |
| | |
(Cost $0) | | | | | | | 2 | |
| | |
TOTAL WARRANTS | | | | | | | | |
(Cost $0) | | | | | | | 2 | |
| | |
SECURITIES LENDING COLLATERAL — 0.1% | | | | | | | | |
| | |
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (c)(d) | | | | | | | | |
(Cost $89,242) | | | 89,242 | | | | 89,242 | |
| | |
CASH EQUIVALENTS — 2.4% | | | | | | | | |
| | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (c) | | | | | | | | |
(Cost $2,308,436) | | | 2,308,436 | | | | 2,308,436 | |
| | |
TOTAL INVESTMENTS — 100.6% | | | | | | | | |
| | |
(Cost $99,702,245) | | | | | | | 94,833,068 | |
| | |
Other assets and liabilities, net — (0.6%) | | | | | | | (570,164 | ) |
| | |
NET ASSETS — 100.0% | | | | | | | 94,262,904 | |
A summary of the Fund’s transactions with affiliated investments during the year ended August 31, 2024 is as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Value ($) at 8/31/2023 | | Purchases Cost
($) | | Sales
Proceeds ($) | | Net Realized Gain/(Loss) ($) | | Net Change in Unrealized
Appreciation
(Depreciation)
($) | | Income ($) | | Capital Gain
Distributions
($) | | Number of
Shares at
8/31/2024 | | Value ($) at
8/31/2024 |
| | | | | | |
SECURITIES LENDING COLLATERAL — 0.1% | | | | | | | | | | | | | | | | | | | | | | | | | |
| |
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (c)(d) | | | | | |
| | | | | | | | |
— | | | 89,242 | (e) | | | — | | | | — | | | | — | | | | 10,098 | | | | — | | | | 89,242 | | | | 89,242 | |
| | | | | | | |
CASH EQUIVALENTS — 2.4% | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (c) | | | | | | | | | | | | | |
| | | | | | | | |
1,488,084 | | | 214,513,330 | | | | (213,692,978 | ) | | | — | | | | — | | | | 176,732 | | | | — | | | | 2,308,436 | | | | 2,308,436 | |
| | | | | | | | | |
1,488,084 | | | 214,602,572 | | | | (213,692,978 | ) | | | — | | | | — | | | | 186,830 | | | | — | | | | 2,397,678 | | | | 2,397,678 | |
| * | Non-income producing security. |
| (a) | Investment was valued using significant unobservable inputs. |
See Notes to Financial Statements.
22 | DBX ETF Trust
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
August 31, 2024
| (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 August 31, 2024 amounted to $82,732, which is 0.1% of net assets. |
| (c) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
| (d) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. |
| (e) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the year ended August 31, 2024. |
| ADR: | American Depositary Receipt |
| CPO: | Ordinary Participation Certificates |
| GDR: | Global Depositary Receipt |
| KSC: | Kuwait Shareholding Company |
| KSCP: | Kuwait Shareholding Company Public |
| NVDR: | Non Voting Depositary Receipt |
| PJSC: | Public Joint Stock Company |
| PSQC: | Public Shareholders Qatari Company |
| QPSC: | Qatari Public Shareholders Company |
| QSC: | Qatari Shareholders Company |
| REIT: | Real Estate Investment Trust |
| SAE: | Societe Anonyme Egyptienne |
| 144A: | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
Securities are listed in country of domicile.
At August 31, 2024, open futures contracts purchased were as follows:
| | | | | | | | | | | | | | | | | | | | |
| Contract Description | | Currency | | Number of
Contracts | | Notional
Amount ($) | | Contract Value
($) | | Expiration
Date | | Unrealized
Appreciation ($) |
| | | | | | |
MSCI Emerging Markets Index Future | | USD | | 46 | | | 2,502,430 | | | | 2,530,000 | | | | 9/20/2024 | | | | 27,570 | |
For information on the Fund’s policy and additional disclosures regarding futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
Currency Abbreviations
USD U.S. Dollar
See Notes to Financial Statements.
DBX ETF Trust | 23
Schedule of Investments
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (Continued)
August 31, 2024
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of August 31, 2024 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
| | | | | | | | | | | | | | | | |
Assets | | | Level 1 | | | | Level 2 | | | | Level 3 | | | | Total | |
| | | | |
Common Stocks (a) | | $ | 91,043,353 | | | $ | — | | | $ | 127,824 | | | $ | 91,171,177 | |
| | | | |
Preferred Stocks (a) | | | 1,258,057 | | | | — | | | | 0 | | | | 1,258,057 | |
| | | | |
Rights (a) | | | 6,154 | | | | — | | | | 0 | | | | 6,154 | |
| | | | |
Warrants | | | 2 | | | | — | | | | — | | | | 2 | |
| | | | |
Short-Term Investments (a) | | | 2,397,678 | | | | — | | | | — | | | | 2,397,678 | |
| | | | |
Derivatives (b) | | | | | | | | | | | | | | | | |
| | | | |
Futures Contracts | | | 27,570 | | | | — | | | | — | | | | 27,570 | |
| | | | |
TOTAL | | $ | 94,732,814 | | | $ | — | | | $ | 127,824 | | | $ | 94,860,638 | |
| (a) | See Schedule of Investments for additional detailed categorizations. |
| (b) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
During the year ended August 31, 2024, the amount of transfers from Level 1 to Level 3 was $406,729. The investment was transferred from Level 1 to Level 3 due to the lack of observable market data due to a decrease in market activity. Transfers between price levels are recognized at the beginning of the reporting period.
See Notes to Financial Statements.
24 | DBX ETF Trust
Schedule of Investments
Xtrackers MSCI EAFE ESG Leaders Equity ETF
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
COMMON STOCKS — 99.2% | | | | | | | | |
| | |
Australia — 6.1% | | | | | | | | |
| | |
ANZ Group Holdings Ltd. | | | 17,917 | | | | 369,563 | |
| | |
APA Group (a) | | | 7,770 | | | | 40,014 | |
| | |
Aristocrat Leisure Ltd. | | | 3,435 | | | | 127,510 | |
| | |
ASX Ltd. | | | 1,148 | | | | 47,685 | |
| | |
BlueScope Steel Ltd. | | | 2,576 | | | | 36,110 | |
| | |
Brambles Ltd. | | | 8,365 | | | | 103,467 | |
| | |
CAR Group Ltd. | | | 2,031 | | | | 52,172 | |
| | |
Cochlear Ltd. | | | 395 | | | | 80,501 | |
| | |
Coles Group Ltd. | | | 8,165 | | | | 104,096 | |
| | |
Computershare Ltd. | | | 3,125 | | | | 60,281 | |
| | |
CSL Ltd. | | | 2,879 | | | | 600,007 | |
| | |
Endeavour Group Ltd. | | | 8,782 | | | | 31,819 | |
| | |
Fortescue Ltd. | | | 10,155 | | | | 125,883 | |
| | |
Goodman Group REIT | | | 10,162 | | | | 230,290 | |
| | |
GPT Group REIT | | | 10,921 | | | | 36,457 | |
| | |
Macquarie Group Ltd. | | | 2,157 | | | | 315,609 | |
| | |
Mineral Resources Ltd. | | | 1,042 | | | | 28,386 | |
| | |
Northern Star Resources Ltd. | | | 6,965 | | | | 72,115 | |
| | |
Orica Ltd. | | | 2,904 | | | | 34,994 | |
| | |
Pilbara Minerals Ltd. | | | 17,339 | | | | 34,941 | |
| | |
QBE Insurance Group Ltd. | | | 8,999 | | | | 96,411 | |
| | |
Ramsay Health Care Ltd. | | | 1,081 | | | | 30,475 | |
| | |
REA Group Ltd. | | | 325 | | | | 48,292 | |
| | |
SEEK Ltd. | | | 2,115 | | | | 33,077 | |
| | |
Suncorp Group Ltd. | | | 7,652 | | | | 91,741 | |
| | |
Transurban Group (a) | | | 18,526 | | | | 170,322 | |
| | |
WiseTech Global Ltd. | | | 998 | | | | 80,492 | |
Woodside Energy Group Ltd. | | | 11,399 | | | | 210,294 | |
| | |
(Cost $2,890,012) | | | | | | | 3,293,004 | |
| | |
Austria — 0.2% | | | | | | | | |
| | |
OMV AG | | | 892 | | | | 38,882 | |
| | |
Verbund AG | | | 421 | | | | 35,952 | |
| | |
voestalpine AG | | | 731 | | | | 17,866 | |
| | |
(Cost $103,012) | | | | | | | 92,700 | |
| | |
Belgium — 0.4% | | | | | | | | |
| | |
Ageas SA/NV | | | 906 | | | | 46,653 | |
| | |
KBC Group NV | | | 1,402 | | | | 109,159 | |
| | |
Lotus Bakeries NV | | | 2 | | | | 25,193 | |
| | |
Warehouses De Pauw CVA REIT | | | 1,031 | | | | 27,549 | |
| | |
(Cost $193,395) | | | | | | | 208,554 | |
| | |
Chile — 0.1% | | | | | | | | |
| | |
Antofagasta PLC | | | | | | | | |
| | |
(Cost $45,554) | | | 2,296 | | | | 55,915 | |
| | |
Denmark — 6.8% | | | | | | | | |
| | |
A.P. Moller — Maersk A/S, Class A | | | 19 | | | | 27,618 | |
| | |
A.P. Moller — Maersk A/S, Class B | | | 27 | | | | 40,328 | |
| | |
Coloplast A/S, Class B | | | 764 | | | | 104,329 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
DSV A/S | | | 1,015 | | | | 181,503 | |
| | |
Genmab A/S* | | | 394 | | | | 109,542 | |
| | |
Novo Nordisk A/S, Class B | | | 19,245 | | | | 2,679,152 | |
| | |
Novonesis (Novozymes) B, Class B | | | 2,212 | | | | 153,625 | |
| | |
Orsted AS*, 144A | | | 1,099 | | | | 63,703 | |
| | |
Pandora A/S | | | 479 | | | | 83,949 | |
| | |
ROCKWOOL A/S, Class B | | | 57 | | | | 24,733 | |
| | |
Tryg A/S | | | 1,917 | | | | 42,786 | |
| | |
Vestas Wind Systems A/S* | | | 5,971 | | | | 137,255 | |
| | |
(Cost $2,009,934) | | | | | | | 3,648,523 | |
| | |
Finland — 1.5% | | | | | | | | |
| | |
Elisa OYJ | | | 850 | | | | 42,546 | |
| | |
Kesko OYJ, Class B | | | 1,676 | | | | 34,070 | |
| | |
Kone OYJ, Class B | | | 1,988 | | | | 107,385 | |
| | |
Metso Corp. | | | 4,017 | | | | 40,818 | |
| | |
Neste OYJ | | | 2,547 | | | | 59,628 | |
| | |
Nokia OYJ | | | 31,625 | | | | 139,253 | |
| | |
Orion OYJ, Class B | | | 651 | | | | 34,567 | |
| | |
Sampo OYJ, Class A | | | 2,671 | | | | 119,473 | |
| | |
Stora Enso OYJ, Class R | | | 3,417 | | | | 44,234 | |
| | |
UPM-Kymmene OYJ | | | 3,192 | | | | 108,046 | |
| | |
Wartsila OYJ Abp | | | 2,885 | | | | 63,932 | |
| | |
(Cost $806,419) | | | | | | | 793,952 | |
| | |
France — 11.4% | | | | | | | | |
| | |
Aeroports de Paris SA | | | 212 | | | | 27,808 | |
| | |
AXA SA | | | 10,851 | | | | 413,178 | |
| | |
BNP Paribas SA | | | 6,135 | | | | 424,970 | |
| | |
Bouygues SA | | | 1,120 | | | | 40,180 | |
| | |
Carrefour SA | | | 3,212 | | | | 51,837 | |
| | |
Cie Generale des Etablissements Michelin SCA | | | 4,032 | | | | 158,482 | |
| | |
Covivio SA REIT | | | 330 | | | | 18,410 | |
| | |
Credit Agricole SA | | | 6,457 | | | | 101,169 | |
| | |
Danone SA | | | 3,820 | | | | 265,541 | |
| | |
Dassault Systemes SE | | | 3,951 | | | | 154,292 | |
| | |
Eiffage SA | | | 447 | | | | 46,906 | |
| | |
Eurazeo SE | | | 255 | | | | 20,125 | |
| | |
Gecina SA REIT | | | 273 | | | | 30,067 | |
| | |
Getlink SE | | | 1,818 | | | | 32,831 | |
| | |
Hermes International SCA | | | 188 | | | | 451,363 | |
| | |
Kering SA | | | 450 | | | | 129,009 | |
| | |
L’Oreal SA | | | 1,434 | | | | 629,521 | |
| | |
LVMH Moet Hennessy Louis Vuitton SE | | | 1,644 | | | | 1,227,054 | |
| | |
Publicis Groupe SA | | | 1,354 | | | | 149,005 | |
| | |
Rexel SA | | | 1,263 | | | | 31,931 | |
| | |
Schneider Electric SE | | | 3,260 | | | | 828,872 | |
| | |
TotalEnergies SE | | | 12,901 | | | | 888,081 | |
| | |
(Cost $5,359,962) | | | | | | | 6,120,632 | |
See Notes to Financial Statements.
DBX ETF Trust | 25
Schedule of Investments
Xtrackers MSCI EAFE ESG Leaders Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Germany — 3.5% | | | | | | | | |
| | |
adidas AG | | | 971 | | | | 249,354 | |
| | |
Beiersdorf AG | | | 595 | | | | 86,113 | |
| | |
Commerzbank AG | | | 6,258 | | | | 92,683 | |
| | |
Covestro AG*, 144A | | | 1,121 | | | | 68,742 | |
| | |
Deutsche Boerse AG | | | 1,127 | | | | 253,113 | |
| | |
Deutsche Lufthansa AG(b) | | | 3,621 | | | | 23,600 | |
| | |
Evonik Industries AG | | | 1,494 | | | | 33,157 | |
| | |
GEA Group AG | | | 899 | | | | 42,192 | |
| | |
Heidelberg Materials AG | | | 788 | | | | 83,438 | |
| | |
Henkel AG & Co. KGaA | | | 624 | | | | 51,907 | |
| | |
Knorr-Bremse AG | | | 427 | | | | 35,141 | |
| | |
LEG Immobilien SE | | | 457 | | | | 44,040 | |
| | |
Merck KGaA | | | 762 | | | | 148,322 | |
| | |
MTU Aero Engines AG | | | 313 | | | | 93,544 | |
| | |
Muenchener Rueckversicherungs- Gesellschaft AG in Muenchen | | | 808 | | | | 437,618 | |
| | |
Puma SE | | | 641 | | | | 27,735 | |
| | |
Symrise AG | | | 777 | | | | 102,390 | |
| | |
Zalando SE*, 144A | | | 1,352 | | | | 35,079 | |
| | |
(Cost $1,539,751) | | | | | | | 1,908,168 | |
| | |
Hong Kong — 1.9% | | | | | | | | |
| | |
AIA Group Ltd. | | | 66,707 | | | | 474,194 | |
| | |
CK Infrastructure Holdings Ltd. | | | 3,826 | | | | 28,399 | |
| | |
Hang Seng Bank Ltd. | | | 4,559 | | | | 55,114 | |
| | |
Hong Kong & China Gas Co. Ltd. | | | 67,605 | | | | 55,035 | |
| | |
Hong Kong Exchanges & Clearing Ltd. | | | 7,107 | | | | 219,030 | |
| | |
MTR Corp. Ltd. | | | 9,522 | | | | 33,630 | |
| | |
Prudential PLC | | | 16,182 | | | | 138,662 | |
| | |
Sino Land Co. Ltd. | | | 24,791 | | | | 26,570 | |
| | |
Swire Pacific Ltd., Class A | | | 2,148 | | | | 18,230 | |
| | |
(Cost $1,398,481) | | | | | | | 1,048,864 | |
| | |
Ireland — 0.8% | | | | | | | | |
| | |
AerCap Holdings NV | | | 1,213 | | | | 118,170 | |
| | |
DCC PLC | | | 606 | | | | 42,649 | |
| | |
James Hardie Industries PLC CDI* | | | 2,553 | | | | 95,410 | |
| | |
Kerry Group PLC, Class A | | | 929 | | | | 93,371 | |
| | |
Kingspan Group PLC | | | 927 | | | | 80,754 | |
| | |
(Cost $397,963) | | | | | | | 430,354 | |
| | |
Italy — 2.1% | | | | | | | | |
| | |
Enel SpA | | | 48,625 | | | | 369,441 | |
| | |
FinecoBank Banca Fineco SpA | | | 3,662 | | | | 62,606 | |
| | |
Generali | | | 6,108 | | | | 168,213 | |
| | |
Intesa Sanpaolo SpA | | | 87,190 | | | | 363,314 | |
| | |
Mediobanca Banca di Credito Finanziario SpA | | | 2,950 | | | | 49,911 | |
| | |
Moncler SpA | | | 1,332 | | | | 81,711 | |
| | |
Nexi SpA*, 144A | | | 3,511 | | | | 24,538 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Poste Italiane SpA, 144A | | | 2,722 | | | | 37,813 | |
| | |
(Cost $1,029,606) | | | | | | | 1,157,547 | |
| | |
Japan — 25.0% | | | | | | | | |
| | |
Aeon Co. Ltd. | | | 3,900 | | | | 97,738 | |
| | |
Ajinomoto Co., Inc. | | | 2,800 | | | | 107,631 | |
| | |
ANA Holdings, Inc. | | | 900 | | | | 18,206 | |
| | |
Asahi Kasei Corp. | | | 7,400 | | | | 52,449 | |
| | |
Asics Corp. | | | 4,100 | | | | 80,969 | |
| | |
Astellas Pharma, Inc. | | | 10,700 | | | | 133,525 | |
| | |
Bandai Namco Holdings, Inc. | | | 3,600 | | | | 77,313 | |
| | |
Bridgestone Corp. | | | 3,400 | | | | 132,680 | |
| | |
Brother Industries Ltd. | | | 1,600 | | | | 29,675 | |
| | |
Chugai Pharmaceutical Co. Ltd. | | | 4,000 | | | | 202,850 | |
| | |
Concordia Financial Group Ltd. | | | 5,800 | | | | 32,704 | |
| | |
Dai Nippon Printing Co. Ltd. | | | 1,165 | | | | 41,998 | |
| | |
Daifuku Co. Ltd. | | | 1,948 | | | | 37,567 | |
| | |
Daiichi Sankyo Co. Ltd. | | | 11,000 | | | | 461,440 | |
| | |
Daikin Industries Ltd. | | | 1,571 | | | | 199,713 | |
| | |
Daiwa House Industry Co. Ltd. | | | 3,300 | | | | 101,739 | |
| | |
Daiwa Securities Group, Inc. | | | 8,200 | | | | 60,484 | |
| | |
Denso Corp. | | | 11,200 | | | | 172,340 | |
| | |
Eisai Co. Ltd. | | | 1,508 | | | | 63,373 | |
| | |
ENEOS Holdings, Inc. | | | 17,000 | | | | 92,177 | |
| | |
FANUC Corp. | | | 5,625 | | | | 165,615 | |
| | |
Fast Retailing Co. Ltd. | | | 1,132 | | | | 362,678 | |
| | |
Fuji Electric Co. Ltd. | | | 850 | | | | 50,881 | |
| | |
FUJIFILM Holdings Corp. | | | 6,650 | | | | 178,347 | |
| | |
Fujitsu Ltd. | | | 10,010 | | | | 184,072 | |
| | |
Hankyu Hanshin Holdings, Inc. | | | 1,300 | | | | 39,918 | |
| | |
Hitachi Construction Machinery Co. Ltd. | | | 600 | | | | 14,629 | |
| | |
Hitachi Ltd. | | | 27,600 | | | | 677,087 | |
| | |
Hoya Corp. | | | 2,099 | | | | 296,892 | |
| | |
Ibiden Co. Ltd. | | | 700 | | | | 24,283 | |
| | |
Isuzu Motors Ltd. | | | 3,400 | | | | 51,267 | |
| | |
ITOCHU Corp. | | | 7,100 | | | | 375,760 | |
| | |
JFE Holdings, Inc. | | | 3,500 | | | | 48,436 | |
| | |
Kao Corp. | | | 2,784 | | | | 125,142 | |
| | |
KDDI Corp. | | | 9,202 | | | | 310,367 | |
| | |
Kikkoman Corp. | | | 4,100 | | | | 46,264 | |
| | |
Komatsu Ltd. | | | 5,500 | | | | 153,209 | |
| | |
Konami Group Corp. | | | 600 | | | | 54,167 | |
| | |
Kubota Corp. | | | 5,900 | | | | 82,459 | |
| | |
LY Corp. | | | 16,300 | | | | 44,745 | |
| | |
Marubeni Corp. | | | 8,500 | | | | 145,184 | |
| | |
MatsukiyoCocokara & Co. | | | 2,000 | | | | 32,252 | |
| | |
Mazda Motor Corp. | | | 3,300 | | | | 27,695 | |
| | |
McDonald’s Holdings Co. Japan Ltd. | | | 500 | | | | 22,012 | |
| | |
MEIJI Holdings Co. Ltd. | | | 1,300 | | | | 32,374 | |
| | |
Mitsubishi Chemical Group Corp. | | | 8,000 | | | | 46,636 | |
See Notes to Financial Statements.
26 | DBX ETF Trust
Schedule of Investments
Xtrackers MSCI EAFE ESG Leaders Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Mitsubishi Estate Co. Ltd. | | | 6,800 | | | | 116,778 | |
| | |
Mitsui Chemicals, Inc. | | | 900 | | | | 24,051 | |
| | |
Mitsui Fudosan Co. Ltd. | | | 15,800 | | | | 170,148 | |
| | |
Mizuho Financial Group, Inc. | | | 14,300 | | | | 295,517 | |
| | |
MS&AD Insurance Group Holdings, Inc. | | | 7,700 | | | | 176,893 | |
| | |
NEC Corp. | | | 1,500 | | | | 132,533 | |
| | |
Nippon Paint Holdings Co. Ltd. | | | 5,750 | | | | 36,418 | |
| | |
Nitori Holdings Co. Ltd. | | | 492 | | | | 73,392 | |
| | |
Nitto Denko Corp. | | | 850 | | | | 70,724 | |
| | |
Nomura Holdings, Inc. | | | 17,800 | | | | 103,703 | |
| | |
Nomura Research Institute Ltd. | | | 2,300 | | | | 77,559 | |
| | |
Obayashi Corp. | | | 3,700 | | | | 47,367 | |
| | |
Omron Corp. | | | 1,013 | | | | 41,924 | |
| | |
Oriental Land Co. Ltd. | | | 6,425 | | | | 175,975 | |
| | |
ORIX Corp. | | | 6,800 | | | | 170,181 | |
| | |
Osaka Gas Co. Ltd. | | | 2,200 | | | | 54,303 | |
| | |
Pan Pacific International Holdings Corp. | | | 2,300 | | | | 58,572 | |
| | |
Panasonic Holdings Corp. | | | 13,900 | | | | 115,750 | |
| | |
Rakuten Group, Inc.* | | | 9,100 | | | | 64,592 | |
| | |
Recruit Holdings Co. Ltd. | | | 8,850 | | | | 549,885 | |
| | |
Renesas Electronics Corp. | | | 10,000 | | | | 172,659 | |
| | |
Ricoh Co. Ltd. | | | 3,300 | | | | 34,449 | |
| | |
Rohm Co. Ltd. | | | 1,800 | | | | 22,561 | |
| | |
Secom Co. Ltd. | | | 1,300 | | | | 94,818 | |
| | |
Seiko Epson Corp. | | | 1,900 | | | | 35,369 | |
| | |
Sekisui Chemical Co. Ltd. | | | 2,300 | | | | 34,996 | |
| | |
Sekisui House Ltd. | | | 3,600 | | | | 92,815 | |
| | |
Seven & i Holdings Co. Ltd. | | | 13,300 | | | | 191,683 | |
| | |
SG Holdings Co. Ltd. | | | 2,100 | | | | 22,795 | |
| | |
Shimadzu Corp. | | | 1,440 | | | | 47,916 | |
| | |
Shin-Etsu Chemical Co. Ltd. | | | 10,775 | | | | 475,238 | |
| | |
Shiseido Co. Ltd. | | | 2,400 | | | | 53,751 | |
| | |
SoftBank Corp. | | | 17,000 | | | | 237,945 | |
| | |
SoftBank Group Corp. | | | 6,100 | | | | 352,120 | |
| | |
Sompo Holdings, Inc. | | | 5,620 | | | | 132,390 | |
| | |
Sony Group Corp. | | | 7,433 | | | | 724,897 | |
| | |
Subaru Corp. | | | 3,600 | | | | 68,252 | |
| | |
Sumitomo Electric Industries Ltd. | | | 4,300 | | | | 71,128 | |
| | |
Sumitomo Metal Mining Co. Ltd. | | | 1,553 | | | | 43,559 | |
| | |
Sumitomo Mitsui Financial Group, Inc. | | | 7,453 | | | | 488,830 | |
| | |
Sumitomo Mitsui Trust Holdings, Inc. | | | 3,900 | | | | 96,506 | |
| | |
Sysmex Corp. | | | 3,100 | | | | 60,039 | |
| | |
T&D Holdings, Inc. | | | 3,000 | | | | 50,448 | |
| | |
TDK Corp. | | | 2,325 | | | | 157,236 | |
| | |
TIS, Inc. | | | 1,300 | | | | 32,526 | |
| | |
Tokio Marine Holdings, Inc. | | | 11,200 | | | | 423,524 | |
| | |
Tokyo Electron Ltd. | | | 2,722 | | | | 482,409 | |
| | |
Tokyo Gas Co. Ltd. | | | 2,200 | | | | 55,059 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Tokyu Corp. | | | 3,000 | | | | 36,726 | |
| | |
Toray Industries, Inc. | | | 8,600 | | | | 44,322 | |
| | |
TOTO Ltd. | | | 800 | | | | 27,763 | |
| | |
Unicharm Corp. | | | 2,500 | | | | 87,205 | |
| | |
West Japan Railway Co. | | | 2,600 | | | | 49,623 | |
| | |
Yamaha Motor Co. Ltd. | | | 5,300 | | | | 46,119 | |
| | |
Yokogawa Electric Corp. | | | 1,279 | | | | 35,909 | |
| | |
Zensho Holdings Co. Ltd. | | | 600 | | | | 31,326 | |
| | |
ZOZO, Inc. | | | 900 | | | | 28,699 | |
| | |
(Cost $10,754,010) | | | | | | | 13,488,817 | |
| | |
Luxembourg — 0.1% | | | | | | | | |
| | |
Eurofins Scientific SE | | | | | | | | |
| | |
(Cost $46,112) | | | 768 | | | | 43,899 | |
| | |
Netherlands — 7.0% | | | | | | | | |
| | |
Akzo Nobel NV | | | 997 | | | | 63,677 | |
| | |
ASML Holding NV | | | 2,386 | | | | 2,144,545 | |
| | |
ASR Nederland NV | | | 915 | | | | 44,817 | |
| | |
ING Groep NV | | | 19,583 | | | | 355,364 | |
| | |
JDE Peet’s NV | | | 727 | | | | 16,674 | |
| | |
Koninklijke Ahold Delhaize NV | | | 5,626 | | | | 193,424 | |
| | |
Koninklijke KPN NV | | | 23,181 | | | | 94,759 | |
| | |
NN Group NV | | | 1,672 | | | | 81,969 | |
| | |
OCI NV | | | 551 | | | | 17,449 | |
| | |
Prosus NV* | | | 8,412 | | | | 312,206 | |
| | |
QIAGEN NV* | | | 1,298 | | | | 59,582 | |
| | |
Universal Music Group NV | | | 4,923 | | | | 128,766 | |
| | |
Wolters Kluwer NV | | | 1,491 | | | | 254,407 | |
| | |
(Cost $2,537,621) | | | | | | | 3,767,639 | |
| | |
New Zealand — 0.3% | | | | | | | | |
| | |
Mercury NZ Ltd. | | | 3,877 | | | | 15,160 | |
| | |
Meridian Energy Ltd. | | | 7,383 | | | | 29,286 | |
| | |
Spark New Zealand Ltd. | | | 11,064 | | | | 24,851 | |
| | |
Xero Ltd.* | | | 850 | | | | 82,379 | |
| | |
(Cost $142,189) | | | | | | | 151,676 | |
| | |
Norway — 1.0% | | | | | | | | |
| | |
Aker BP ASA | | | 1,886 | | | | 45,208 | |
| | |
DNB Bank ASA | | | 5,353 | | | | 113,254 | |
| | |
Equinor ASA | | | 5,041 | | | | 133,970 | |
| | |
Gjensidige Forsikring ASA | | | 1,177 | | | | 20,879 | |
| | |
Mowi ASA | | | 2,701 | | | | 47,098 | |
| | |
Norsk Hydro ASA | | | 8,105 | | | | 45,452 | |
| | |
Orkla ASA | | | 4,419 | | | | 39,300 | |
| | |
Salmar ASA | | | 442 | | | | 22,993 | |
| | |
Telenor ASA | | | 3,826 | | | | 47,499 | |
| | |
Yara International ASA | | | 898 | | | | 26,180 | |
| | |
(Cost $577,563) | | | | | | | 541,833 | |
| | |
Portugal — 0.2% | | | | | | | | |
| | |
Galp Energia SGPS SA | | | 2,718 | | | | 56,440 | |
| | |
Jeronimo Martins SGPS SA | | | 1,629 | | | | 30,185 | |
| | |
(Cost $65,366) | | | | | | | 86,625 | |
See Notes to Financial Statements.
DBX ETF Trust | 27
Schedule of Investments
Xtrackers MSCI EAFE ESG Leaders Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Singapore — 0.8% | | | | | | | | |
| | |
CapitaLand Ascendas REIT REIT | | | 22,900 | | | | 50,598 | |
| | |
CapitaLand Integrated Commercial Trust REIT | | | 32,165 | | | | 52,315 | |
| | |
CapitaLand Investment Ltd. | | | 15,600 | | | | 32,434 | |
| | |
Grab Holdings Ltd.*, Class A | | | 11,836 | | | | 38,112 | |
| | |
Keppel Ltd. | | | 9,000 | | | | 42,602 | |
| | |
Sembcorp Industries Ltd. | | | 5,200 | | | | 19,668 | |
| | |
Singapore Exchange Ltd. | | | 5,300 | | | | 44,036 | |
| | |
United Overseas Bank Ltd. | | | 7,500 | | | | 180,617 | |
| | |
(Cost $426,797) | | | | | | | 460,382 | |
| | |
Spain — 2.0% | | | | | | | | |
| | |
ACS Actividades de Construccion y Servicios SA | | | 1,123 | | | | 51,114 | |
| | |
Amadeus IT Group SA | | | 2,709 | | | | 182,734 | |
| | |
Banco de Sabadell SA | | | 31,874 | | | | 68,552 | |
| | |
Cellnex Telecom SA*, 144A | | | 3,152 | | | | 121,869 | |
| | |
Iberdrola SA | | | 36,379 | | | | 516,235 | |
| | |
Redeia Corp. SA | | | 2,407 | | | | 45,773 | |
| | |
Repsol SA | | | 7,196 | | | | 99,207 | |
| | |
(Cost $946,729) | | | | | | | 1,085,484 | |
| | |
Sweden — 3.7% | | | | | | | | |
| | |
Alfa Laval AB | | | 1,734 | | | | 77,872 | |
| | |
Assa Abloy AB, Class B | | | 5,958 | | | | 192,632 | |
| | |
Atlas Copco AB, Class A | | | 15,924 | | | | 289,457 | |
| | |
Atlas Copco AB, Class B | | | 9,439 | | | | 150,423 | |
| | |
Boliden AB | | | 1,637 | | | | 50,193 | |
| | |
Epiroc AB, Class A | | | 3,954 | | | | 76,371 | |
| | |
Epiroc AB, Class B | | | 2,338 | | | | 41,620 | |
| | |
EQT AB | | | 2,187 | | | | 73,208 | |
| | |
Essity AB, Class B | | | 3,680 | | | | 111,973 | |
| | |
Evolution AB, 144A | | | 1,072 | | | | 111,641 | |
| | |
H & M Hennes & Mauritz AB, Class B | | | 3,415 | | | | 54,189 | |
| | |
Holmen AB, Class B | | | 458 | | | | 18,793 | |
| | |
Husqvarna AB, Class B | | | 2,103 | | | | 14,194 | |
| | |
Nibe Industrier AB, Class B | | | 9,150 | | | | 45,246 | |
| | |
Sandvik AB | | | 6,304 | | | | 134,381 | |
| | |
SKF AB, Class B | | | 2,052 | | | | 38,923 | |
| | |
Svenska Cellulosa AB SCA, Class B | | | 3,672 | | | | 51,114 | |
| | |
Svenska Handelsbanken AB, Class A | | | 8,499 | | | | 87,889 | |
| | |
Tele2 AB, Class B | | | 3,250 | | | | 36,972 | |
| | |
Telia Co. AB | | | 14,101 | | | | 43,842 | |
| | |
Volvo AB, Class A | | | 1,216 | | | | 32,796 | |
| | |
Volvo AB, Class B | | | 9,401 | | | | 250,247 | |
| | |
(Cost $1,763,568) | | | | | | | 1,983,976 | |
| | |
Switzerland — 10.1% | | | | | | | | |
| | |
ABB Ltd. | | | 9,489 | | | | 543,874 | |
| | |
Alcon, Inc. | | | 2,968 | | | | 287,897 | |
| | |
Baloise Holding AG | | | 282 | | | | 54,542 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Banque Cantonale Vaudoise | | | 180 | | | | 19,285 | |
| | |
Chocoladefabriken Lindt & Spruengli AG Participation Certificates | | | 12 | | | | 158,689 | |
| | |
Clariant AG* | | | 1,265 | | | | 19,889 | |
| | |
Coca-Cola HBC AG* | | | 1,345 | | | | 49,848 | |
| | |
DSM-Firmenich AG | | | 1,102 | | | | 150,036 | |
| | |
Geberit AG | | | 201 | | | | 128,164 | |
| | |
Givaudan SA | | | 55 | | | | 282,374 | |
| | |
Julius Baer Group Ltd. | | | 1,216 | | | | 70,958 | |
| | |
Kuehne + Nagel International AG | | | 288 | | | | 89,307 | |
| | |
Logitech International SA | | | 935 | | | | 84,656 | |
| | |
Lonza Group AG | | | 442 | | | | 289,440 | |
| | |
Novartis AG | | | 11,746 | | | | 1,413,756 | |
| | |
SGS SA | | | 916 | | | | 102,175 | |
| | |
SIG Group AG* | | | 1,851 | | | | 39,138 | |
| | |
Sika AG | | | 909 | | | | 291,412 | |
| | |
Sonova Holding AG | | | 296 | | | | 103,196 | |
| | |
STMicroelectronics NV | | | 4,039 | | | | 128,624 | |
| | |
Swiss Life Holding AG | | | 174 | | | | 140,685 | |
| | |
Swiss Prime Site AG | | | 461 | | | | 51,944 | |
| | |
Swiss Re AG | | | 1,795 | | | | 244,778 | |
| | |
Swisscom AG | | | 156 | | | | 98,644 | |
| | |
Temenos AG | | | 389 | | | | 27,096 | |
| | |
VAT Group AG, 144A | | | 162 | | | | 83,478 | |
| | |
Zurich Insurance Group AG | | | 874 | | | | 506,198 | |
| | |
(Cost $4,305,829) | | | | | | | 5,460,083 | |
| | |
United Kingdom — 14.2% | | | | | | | | |
| | |
3i Group PLC | | | 5,779 | | | | 241,447 | |
| | |
Admiral Group PLC | | | 1,527 | | | | 58,560 | |
| | |
Anglo American PLC | | | 7,534 | | | | 218,726 | |
| | |
Ashtead Group PLC | | | 2,632 | | | | 186,723 | |
| | |
Associated British Foods PLC | | | 1,963 | | | | 64,239 | |
| | |
AstraZeneca PLC | | | 9,251 | | | | 1,613,870 | |
| | |
Auto Trader Group PLC, 144A | | | 5,409 | | | | 60,496 | |
| | |
Aviva PLC | | | 15,948 | | | | 105,762 | |
| | |
Barratt Developments PLC | | | 8,175 | | | | 54,494 | |
| | |
Berkeley Group Holdings PLC | | | 656 | | | | 42,969 | |
| | |
BT Group PLC | | | 37,474 | | | | 68,458 | |
| | |
Bunzl PLC | | | 2,036 | | | | 94,724 | |
| | |
Coca-Cola Europacific Partners PLC | | | 1,235 | | | | 99,405 | |
| | |
Croda International PLC | | | 793 | | | | 42,803 | |
| | |
Endeavour Mining PLC | | | 1,067 | | | | 22,633 | |
| | |
HSBC Holdings PLC | | | 110,881 | | | | 971,551 | |
| | |
Informa PLC | | | 8,304 | | | | 91,019 | |
| | |
Intertek Group PLC | | | 968 | | | | 62,974 | |
| | |
J Sainsbury PLC | | | 9,996 | | | | 38,413 | |
| | |
Kingfisher PLC | | | 11,455 | | | | 42,786 | |
| | |
Land Securities Group PLC REIT | | | 3,990 | | | | 33,010 | |
| | |
Legal & General Group PLC | | | 35,065 | | | | 103,136 | |
| | |
Lloyds Banking Group PLC | | | 376,245 | | | | 289,271 | |
See Notes to Financial Statements.
28 | DBX ETF Trust
Schedule of Investments
Xtrackers MSCI EAFE ESG Leaders Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
M&G PLC | | | 12,445 | | | | 35,067 | |
| | |
Mondi PLC | | | 2,658 | | | | 51,421 | |
| | |
National Grid PLC | | | 28,732 | | | | 377,082 | |
| | |
Phoenix Group Holdings PLC | | | 4,126 | | | | 30,665 | |
| | |
Reckitt Benckiser Group PLC | | | 4,194 | | | | 240,652 | |
| | |
RELX PLC | | | 11,128 | | | | 517,578 | |
| | |
Rentokil Initial PLC | | | 15,198 | | | | 96,474 | |
| | |
Sage Group PLC | | | 5,991 | | | | 79,603 | |
| | |
Schroders PLC | | | 4,516 | | | | 20,322 | |
| | |
Segro PLC REIT | | | 7,598 | | | | 86,995 | |
| | |
Smiths Group PLC | | | 1,999 | | | | 47,342 | |
| | |
Spirax Group PLC | | | 440 | | | | 44,498 | |
| | |
Taylor Wimpey PLC | | | 21,734 | | | | 46,002 | |
| | |
Tesco PLC | | | 42,839 | | | | 199,137 | |
| | |
Unilever PLC | | | 14,889 | | | | 960,000 | |
| | |
Vodafone Group PLC | | | 135,357 | | | | 132,388 | |
| | |
Whitbread PLC | | | 1,052 | | | | 39,888 | |
| | |
WPP PLC | | | 6,476 | | | | 61,637 | |
| | |
(Cost $6,401,689) | | | | | | | 7,674,220 | |
| | |
TOTAL COMMON STOCKS (Cost $43,741,562) | | | | | | | 53,502,847 | |
| | |
PREFERRED STOCKS — 0.3% | | | | | | | | |
| | |
Germany — 0.3% | | | | | | | | |
| | |
Henkel AG & Co. KGaA | | | 1,018 | | | | 93,256 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Sartorius AG | | | 151 | | | | 41,685 | |
| | |
(Cost $126,548) | | | | | | | 134,941 | |
| | |
EXCHANGE-TRADED FUNDS — 0.1% | | | | | | | | |
| | |
iShares ESG Aware MSCI EAFE ETF (b)
(Cost $53,467) | | | 700 | | | | 58,345 | |
| | |
SECURITIES LENDING COLLATERAL — 0.1% | | | | | | | | |
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (c)(d)
(Cost $83,698) | | | 83,698 | | | | 83,698 | |
| | |
CASH EQUIVALENTS — 0.1% | | | | | | | | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (c)
(Cost $41,263) | | | 41,263 | | | | 41,263 | |
| | |
TOTAL INVESTMENTS — 99.8% | | | | | | | | |
(Cost $44,046,538) | | | | | | | 53,821,094 | |
| | |
Other assets and liabilities, net — 0.2% | | | | | | | 86,030 | |
| | |
NET ASSETS — 100.0% | | | | | | | 53,907,124 | |
A summary of the Fund’s transactions with affiliated investments during the year ended August 31, 2024 is as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | Net Change | | | | | | | | | | |
| | | | | | | | | in Unrealized | | | | | | | | | | |
| | | | | | | Net Realized | | Appreciation | | | | Capital Gain | | Number of | | | | |
| Value ($) at | | Purchases Cost | | Sales | | Gain/(Loss) | | (Depreciation) | | | | Distributions | | Shares at | | Value ($) at | | |
| 8/31/2023 | | ($) | | Proceeds ($) | | ($) | | ($) | | Income ($) | | ($) | | 8/31/2024 | | 8/31/2024 | | |
| | | | | | | |
SECURITIES LENDING COLLATERAL — 0.1% | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | |
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (c)(d) | | | | | | | | | | | | | | | | | |
| | | | | | | | | |
— | | | 83,698 | (e) | | | — | | | | — | | | | — | | | | 571 | | | | — | | | | 83,698 | | | | 83,698 | | | | | |
| | | | | | | | |
CASH EQUIVALENTS — 0.1% | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (c) | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | |
11,252 | | | 2,648,983 | | | | (2,618,972 | ) | | | — | | | | — | | | | 2,324 | | | | — | | | | 41,263 | | | | 41,263 | | | | | |
| | | | | | | | | |
11,252 | | | 2,732,681 | | | | (2,618,972 | ) | | | — | | | | — | | | | 2,895 | | | | — | | | | 124,961 | | | | 124,961 | | | | | |
| * | 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 August 31, 2024 amounted to $81,202, which is 0.2% of net assets. |
| (c) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
| (d) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. |
| (e) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the year ended August 31, 2024. |
See Notes to Financial Statements.
DBX ETF Trust | 29
Schedule of Investments
Xtrackers MSCI EAFE ESG Leaders Equity ETF (Continued)
August 31, 2024
| CDI: | Chess Depositary Interests |
| CVA: | Credit Valuation Adjustment |
| REIT: | Real Estate Investment Trust |
| 144A: | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
Securities are listed in country of domicile.
At August 31, 2024, open futures contracts purchased were as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Contract Description | | Currency | | | | Number of
Contracts | | | | Notional
Amount ($) | | | | Contract Value
($) | | | | Expiration
Date | | | | Unrealized
Appreciation
(Depreciation) ($) |
| | | | | | | | | | | |
Micro EURO STOXX 50 Futures | | | EUR | | | | | | | | 3 | | | | | | | | 16,389 | | | | | | | | 16,507 | | | | | | | | 9/20/2024 | | | | | | | | 118 | |
| | | | | | | | | | | |
MINI TOPIX Index Futures | | | JPY | | | | | | | | 3 | | | | | | | | 59,415 | | | | | | | | 55,950 | | | | | | | | 9/12/2024 | | | | | | | | (3,465 | ) |
| | | | | | | | | | | |
MSCI EAFE Futures | | | USD | | | | | | | | 1 | | | | | | | | 116,975 | | | | | | | | 122,925 | | | | | | | | 9/20/2024 | | | | | | | | 5,950 | |
| | | | | | | | | | | |
Total net unrealized appreciation | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,603 | |
For information on the Fund’s policy and additional disclosures regarding futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
Currency Abbreviations
See Notes to Financial Statements.
30 | DBX ETF Trust
Schedule of Investments
Xtrackers MSCI EAFE ESG Leaders Equity ETF (Continued)
August 31, 2024
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of August 31, 2024 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Assets | | Level 1 | | | | Level 2 | | | | Level 3 | | | | Total |
| | | | | | | |
Common Stocks (a) | | $ | 53,502,847 | | | | | | | $ | — | | | | | | | $ | — | | | | | | | $ | 53,502,847 | |
| | | | | | | |
Preferred Stocks | | | 134,941 | | | | | | | | — | | | | | | | | — | | | | | | | | 134,941 | |
| | | | | | | |
Exchange-Traded Funds | | | 58,345 | | | | | | | | — | | | | | | | | — | | | | | | | | 58,345 | |
| | | | | | | |
Short-Term Investments (a) | | | 124,961 | | | | | | | | — | | | | | | | | — | | | | | | | | 124,961 | |
| | | | | | | |
Derivatives (b) | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Futures Contracts | | | 6,068 | | | | | | | | — | | | | | | | | — | | | | | | | | 6,068 | |
| | | | | | | |
TOTAL | | $ | 53,827,162 | | | | | | | $ | — | | | | | | | $ | — | | | | | | | $ | 53,827,162 | |
| | | | | | | |
| Liabilities | | Level 1 | | | | Level 2 | | | | Level 3 | | | | Total |
| | | | | | | |
Derivatives (b) | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Futures Contracts | | $ | (3,465 | ) | | | | | | $ | — | | | | | | | $ | — | | | | | | | $ | (3,465 | ) |
| | | | | | | |
TOTAL | | $ | (3,465 | ) | | | | | | $ | — | | | | | | | $ | — | | | | | | | $ | (3,465 | ) |
| (a) | See Schedule of Investments for additional detailed categorizations. |
| (b) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
See Notes to Financial Statements.
DBX ETF Trust | 31
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
COMMON STOCKS — 98.8% | | | | | | | | |
| | |
Brazil — 2.2% | | | | | | | | |
| | |
Atacadao SA* | | | 4,126 | | | | 6,535 | |
| | |
B3 SA - Brasil Bolsa Balcao | | | 36,246 | | | | 81,154 | |
| | |
Banco do Brasil SA | | | 11,382 | | | | 56,515 | |
| | |
CCR SA | | | 7,060 | | | | 16,518 | |
| | |
Cia Siderurgica Nacional SA | | | 4,500 | | | | 9,424 | |
| | |
Cosan SA | | | 8,349 | | | | 19,696 | |
| | |
CPFL Energia SA | | | 1,381 | | | | 8,313 | |
| | |
Energisa SA | | | 1,404 | | | | 11,729 | |
| | |
Engie Brasil Energia SA | | | 1,244 | | | | 9,920 | |
| | |
Equatorial Energia SA | | | 7,606 | | | | 45,932 | |
| | |
Hapvida Participacoes e
Investimentos SA*, 144A | | | 33,365 | | | | 24,980 | |
| | |
Klabin SA | | | 5,646 | | | | 21,524 | |
| | |
Localiza Rent a Car SA* | | | 61 | | | | 437 | |
| | |
Localiza Rent a Car SA | | | 6,088 | | | | 44,472 | |
| | |
Natura & Co. Holding SA | | | 6,237 | | | | 14,923 | |
| | |
PRIO SA | | | 5,351 | | | | 44,257 | |
| | |
Raia Drogasil SA | | | 8,606 | | | | 41,880 | |
| | |
Rede D’Or Sao Luiz SA, 144A | | | 5,247 | | | | 29,583 | |
| | |
Rumo SA | | | 8,622 | | | | 33,265 | |
| | |
Sendas Distribuidora SA* | | | 8,796 | | | | 14,864 | |
| | |
Telefonica Brasil SA | | | 2,834 | | | | 25,936 | |
| | |
TIM SA | | | 5,043 | | | | 15,904 | |
| | |
TOTVS SA | | | 3,923 | | | | 20,760 | |
| | |
Ultrapar Participacoes SA | | | 4,964 | | | | 20,475 | |
| | |
(Cost $668,365) | | | | | | | 618,996 | |
| | |
Chile — 0.3% | | | | | | | | |
| | |
Empresas CMPC SA | | | 7,977 | | | | 13,729 | |
| | |
Empresas Copec SA | | | 2,668 | | | | 17,422 | |
| | |
Enel Americas SA | | | 145,631 | | | | 15,549 | |
| | |
Falabella SA* | | | 5,724 | | | | 20,164 | |
| | |
Latam Airlines Group SA | | | 853,783 | | | | 10,997 | |
| | |
(Cost $84,851) | | | | | | | 77,861 | |
| | |
China — 24.4% | | | | | | | | |
| | |
37 Interactive Entertainment Network Technology Group Co. Ltd., Class A | | | 1,000 | | | | 1,968 | |
| | |
AAC Technologies Holdings, Inc. | | | 4,879 | | | | 20,735 | |
| | |
Agricultural Bank of China Ltd., Class A | | | 35,800 | | | | 22,833 | |
| | |
Agricultural Bank of China Ltd., Class H | | | 186,363 | | | | 82,426 | |
| | |
Aier Eye Hospital Group Co. Ltd., Class A | | | 4,300 | | | | 5,885 | |
| | |
Air China Ltd.*, Class A | | | 500 | | | | 492 | |
| | |
Alibaba Group Holding Ltd. | | | 100,549 | | | | 1,049,910 | |
| | |
Angel Yeast Co. Ltd., Class A | | | 200 | | | | 882 | |
| | |
Anhui Conch Cement Co. Ltd., Class A | | | 1,700 | | | | 5,018 | |
| | |
Anhui Conch Cement Co. Ltd., Class H | | | 8,533 | | | | 18,465 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Anjoy Foods Group Co. Ltd., Class A | | | 100 | | | | 1,077 | |
| | |
Baidu, Inc.*, Class A | | | 15,290 | | | | 162,595 | |
| | |
Beijing Tong Ren Tang Co. Ltd. | | | 600 | | | | 2,978 | |
| | |
Bilibili, Inc.*, Class Z | | | 1,519 | | | | 22,316 | |
| | |
BYD Co. Ltd., Class A | | | 777 | | | | 27,346 | |
| | |
BYD Co. Ltd., Class H | | | 6,792 | | | | 210,019 | |
| | |
By-health Co. Ltd., Class A | | | 300 | | | | 478 | |
| | |
China Construction Bank Corp., Class A | | | 4,500 | | | | 4,781 | |
| | |
China Construction Bank Corp., Class H | | | 635,130 | | | | 449,454 | |
| | |
China Eastern Airlines Corp. Ltd.*, Class A | | | 7,100 | | | | 3,797 | |
| | |
China Feihe Ltd., 144A | | | 24,804 | | | | 13,324 | |
| | |
China Jushi Co. Ltd., Class A | | | 1,828 | | | | 2,582 | |
| | |
China Literature Ltd.*, 144A | | | 2,801 | | | | 8,869 | |
| | |
China Mengniu Dairy Co. Ltd. | | | 21,414 | | | | 36,457 | |
| | |
China Merchants Bank Co. Ltd., Class A | | | 8,134 | | | | 36,900 | |
| | |
China Merchants Bank Co. Ltd., Class H | | | 26,168 | | | | 108,525 | |
| | |
China Merchants Shekou Industrial Zone Holdings Co. Ltd., Class A | | | 3,600 | | | | 4,689 | |
| | |
China Minsheng Banking Corp. Ltd., Class A | | | 14,300 | | | | 6,921 | |
| | |
China Minsheng Banking Corp. Ltd., Class H | | | 42,320 | | | | 15,245 | |
| | |
China National Building Material Co. Ltd., Class H | | | 28,744 | | | | 8,291 | |
| | |
China Resources Pharmaceutical Group Ltd., 144A | | | 11,070 | | | | 7,805 | |
| | |
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd., Class A | | | 520 | | | | 3,297 | |
| | |
China Southern Airlines Co. Ltd.*, Class A | | | 3,674 | | | | 2,955 | |
| | |
China Three Gorges Renewables Group Co. Ltd., Class A | | | 12,810 | | | | 8,260 | |
| | |
China Tourism Group Duty Free Corp. Ltd., Class A | | | 800 | | | | 6,887 | |
| | |
China Vanke Co. Ltd.*, Class A | | | 4,385 | | | | 4,183 | |
| | |
China Vanke Co. Ltd.*, Class H | | | 15,367 | | | | 8,097 | |
| | |
China Yangtze Power Co. Ltd., Class A | | | 10,100 | | | | 41,871 | |
| | |
Chongqing Zhifei Biological Products Co. Ltd., Class A | | | 800 | | | | 2,602 | |
| | |
CITIC Ltd. | | | 39,068 | | | | 39,016 | |
| | |
CMOC Group Ltd., Class A | | | 4,524 | | | | 4,781 | |
| | |
CMOC Group Ltd., Class H | | | 25,630 | | | | 20,897 | |
| | |
CNGR Advanced Material Co. Ltd., Class A | | | 420 | | | | 1,713 | |
| | |
Contemporary Amperex Technology Co. Ltd., Class A | | | 1,795 | | | | 46,690 | |
| | |
CSPC Innovation Pharmaceutical Co. Ltd., Class A | | | 600 | | | | 2,052 | |
See Notes to Financial Statements.
32 | DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
CSPC Pharmaceutical Group Ltd. | | | 55,576 | | | | 34,341 | |
| | |
ENN Energy Holdings Ltd. | | | 5,192 | | | | 33,879 | |
| | |
ENN Natural Gas Co. Ltd., Class A | | | 1,200 | | | | 2,992 | |
| | |
Fosun International Ltd. | | | 17,016 | | | | 8,835 | |
| | |
Ganfeng Lithium Group Co. Ltd., Class A | | | 664 | | | | 2,561 | |
| | |
GEM Co. Ltd., Class A | | | 1,200 | | | | 1,011 | |
| | |
Genscript Biotech Corp.* | | | 7,910 | | | | 11,986 | |
| | |
Goldwind Science & Technology Co. Ltd., Class A | | | 1,700 | | | | 1,981 | |
| | |
Great Wall Motor Co. Ltd., Class A | | | 1,100 | | | | 3,595 | |
| | |
Great Wall Motor Co. Ltd., Class H | | | 15,253 | | | | 21,940 | |
| | |
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class A | | | 300 | | | | 1,219 | |
| | |
H World Group Ltd., ADR | | | 1,380 | | | | 42,007 | |
| | |
Haier Smart Home Co. Ltd., Class A | | | 2,700 | | | | 9,422 | |
| | |
Haier Smart Home Co. Ltd., Class H | | | 16,422 | | | | 50,632 | |
| | |
Haitian International Holdings Ltd. | | | 3,835 | | | | 10,718 | |
| | |
Hangzhou Tigermed Consulting Co. Ltd., Class A | | | 200 | | | | 1,436 | |
| | |
Hansoh Pharmaceutical Group Co. Ltd., 144A | | | 7,839 | | | | 20,059 | |
| | |
Henan Shuanghui Investment & Development Co. Ltd., Class A | | | 1,642 | | | | 5,380 | |
| | |
Huadong Medicine Co. Ltd., Class A | | | 600 | | | | 2,496 | |
| | |
Huatai Securities Co. Ltd., Class A | | | 3,356 | | | | 5,957 | |
| | |
Huatai Securities Co. Ltd., Class H, 144A | | | 8,624 | | | | 9,497 | |
| | |
Imeik Technology Development Co. Ltd., Class A | | | 140 | | | | 2,864 | |
| | |
Industrial & Commercial Bank of China Ltd., Class A | | | 26,500 | | | | 22,361 | |
| | |
Industrial & Commercial Bank of China Ltd., Class H | | | 457,242 | | | | 263,194 | |
| | |
Industrial Bank Co. Ltd., Class A | | | 6,700 | | | | 15,608 | |
| | |
Inner Mongolia Yili Industrial Group Co. Ltd., Class A | | | 2,650 | | | | 8,462 | |
| | |
Innovent Biologics, Inc.*, 144A | | | 7,822 | | | | 42,568 | |
| | |
JD Logistics, Inc.*, 144A | | | 13,209 | | | | 16,172 | |
| | |
JD.com, Inc., Class A | | | 16,342 | | | | 224,586 | |
| | |
Jiangsu Eastern Shenghong Co. Ltd., Class A | | | 1,600 | | | | 1,759 | |
| | |
Jiangsu Expressway Co. Ltd., Class H | | | 7,064 | | | | 6,964 | |
| | |
Jiangsu Hengrui Pharmaceuticals Co. Ltd., Class A | | | 2,700 | | | | 16,813 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Jiangsu Zhongtian Technology Co. Ltd., Class A | | | 1,500 | | | | 2,743 | |
| | |
Kanzhun Ltd., ADR | | | 1,757 | | | | 21,892 | |
| | |
KE Holdings, Inc., ADR | | | 4,365 | | | | 64,777 | |
| | |
Kingdee International Software Group Co. Ltd.* | | | 18,914 | | | | 14,961 | |
| | |
Kingsoft Corp. Ltd. | | | 6,179 | | | | 16,991 | |
| | |
Kuaishou Technology*, 144A | | | 15,007 | | | | 77,532 | |
| | |
Kuang-Chi Technologies Co. Ltd.*, Class A | | | 1,100 | | | | 2,708 | |
| | |
Lenovo Group Ltd. | | | 53,308 | | | | 65,538 | |
| | |
Li Auto, Inc.*, Class A | | | 8,250 | | | | 83,395 | |
| | |
Livzon Pharmaceutical Group, Inc., Class A | | | 300 | | | | 1,522 | |
| | |
Longfor Group Holdings Ltd., 144A | | | 13,294 | | | | 15,015 | |
| | |
MINISO Group Holding Ltd. | | | 2,664 | | | | 11,236 | |
| | |
NetEase, Inc. | | | 12,907 | | | | 211,300 | |
| | |
NIO, Inc.*, Class A | | | 8,977 | | | | 38,668 | |
| | |
Nongfu Spring Co. Ltd., Class H, 144A | | | 13,667 | | | | 49,759 | |
| | |
Offshore Oil Engineering Co. Ltd., Class A | | | 1,800 | | | | 1,394 | |
| | |
Orient Securities Co. Ltd., Class A | | | 3,000 | | | | 3,564 | |
| | |
Pharmaron Beijing Co. Ltd., Class A | | | 750 | | | | 2,115 | |
| | |
Pop Mart International Group Ltd., 144A | | | 3,220 | | | | 18,927 | |
| | |
Postal Savings Bank of China Co. Ltd., Class H, 144A | | | 55,065 | | | | 29,578 | |
| | |
SF Holding Co. Ltd., Class A | | | 2,188 | | | | 11,222 | |
| | |
Shandong Nanshan Aluminum Co. Ltd., Class A | | | 4,300 | | | | 2,227 | |
| | |
Shandong Weigao Group Medical Polymer Co. Ltd., Class H | | | 17,011 | | | | 9,617 | |
| | |
Shanghai Electric Group Co. Ltd.*, Class A | | | 4,200 | | | | 2,151 | |
| | |
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class A | | | 826 | | | | 2,627 | |
| | |
Shanghai M&G Stationery, Inc., Class A | | | 400 | | | | 1,512 | |
| | |
Shanghai Pharmaceuticals Holding Co. Ltd., Class A | | | 1,278 | | | | 3,354 | |
| | |
Shanghai Pharmaceuticals Holding Co. Ltd., Class H | | | 5,091 | | | | 7,049 | |
| | |
Shanghai Putailai New Energy Technology Co. Ltd., Class A | | | 1,052 | | | | 1,714 | |
| | |
Shenzhen Inovance Technology Co. Ltd., Class A | | | 624 | | | | 3,813 | |
| | |
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A | | | 448 | | | | 15,854 | |
| | |
Shenzhen New Industries Biomedical Engineering Co. Ltd., Class A | | | 200 | | | | 1,887 | |
| | |
Shenzhou International Group Holdings Ltd. | | | 5,507 | | | | 45,466 | |
See Notes to Financial Statements.
DBX ETF Trust | 33
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Sichuan Kelun Pharmaceutical Co. Ltd., Class A | | | 600 | | | | 2,596 | |
| | |
Sinopharm Group Co. Ltd., Class H | | | 8,868 | | | | 20,668 | |
| | |
Sinotruk Hong Kong Ltd. | | | 4,708 | | | | 11,769 | |
| | |
Sungrow Power Supply Co. Ltd., Class A | | | 938 | | | | 10,191 | |
| | |
Sunny Optical Technology Group Co. Ltd. | | | 4,645 | | | | 28,762 | |
| | |
Sunwoda Electronic Co. Ltd., Class A | | | 800 | | | | 1,895 | |
| | |
Tencent Holdings Ltd. | | | 43,334 | | | | 2,122,146 | |
| | |
Tianqi Lithium Corp., Class A | | | 600 | | | | 2,225 | |
| | |
Tongcheng Travel Holdings Ltd. | | | 8,100 | | | | 15,119 | |
| | |
Vipshop Holdings Ltd., ADR | | | 2,362 | | | | 29,619 | |
| | |
Weichai Power Co. Ltd., Class A | | | 2,700 | | | | 4,937 | |
| | |
Weichai Power Co. Ltd., Class H | | | 13,000 | | | | 19,899 | |
| | |
Western Mining Co. Ltd., Class A | | | 1,000 | | | | 2,208 | |
| | |
WuXi AppTec Co. Ltd., Class A | | | 1,088 | | | | 6,015 | |
| | |
WuXi AppTec Co. Ltd., Class H, 144A | | | 2,489 | | | | 10,945 | |
| | |
Wuxi Biologics Cayman, Inc.*, 144A | | | 23,048 | | | | 33,152 | |
| | |
XPeng, Inc.*, Class A | | | 8,377 | | | | 34,204 | |
| | |
Yadea Group Holdings Ltd., 144A | | | 8,450 | | | | 11,916 | |
| | |
Yihai Kerry Arawana Holdings Co. Ltd., Class A | | | 700 | | | | 2,555 | |
| | |
Yum China Holdings, Inc. | | | 2,602 | | | | 87,974 | |
| | |
Yunnan Baiyao Group Co. Ltd., Class A | | | 806 | | | | 6,148 | |
| | |
Yunnan Energy New Material Co. Ltd., Class A | | | 358 | | | | 1,359 | |
| | |
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., Class A | | | 100 | | | | 2,943 | |
| | |
Zhejiang Chint Electrics Co. Ltd., Class A | | | 2,712 | | | | 6,716 | |
| | |
Zhejiang Expressway Co. Ltd., Class H | | | 11,942 | | | | 7,701 | |
| | |
Zhejiang Leapmotor Technology Co. Ltd.*, 144A | | | 3,327 | | | | 9,191 | |
| | |
Zoomlion Heavy Industry Science and Technology Co. Ltd., Class A | | | 3,800 | | | | 3,389 | |
| | |
ZTO Express Cayman, Inc. | | | 2,885 | | | | 63,319 | |
| | |
(Cost $8,372,638) | | | | | | | 6,841,328 | |
| | |
Colombia — 0.1% | | | | | | | | |
| | |
Bancolombia SA | | | 1,711 | | | | 15,607 | |
| | |
Interconexion Electrica SA ESP | | | 2,679 | | | | 11,684 | |
| | |
(Cost $30,945) | | | | | | | 27,291 | |
| | |
Czech Republic — 0.1% | | | | | | | | |
| | |
Komercni Banka AS | | | 454 | | | | 15,410 | |
| | |
Moneta Money Bank AS, 144A | | | 1,657 | | | | 7,987 | |
| | |
(Cost $20,179) | | | | | | | 23,397 | |
| | | | | | | | |
| | | Number of Shares | | Value $ |
| | |
Egypt — 0.1% | | | | | | | | |
| | |
Commercial International Bank - Egypt (CIB) | | | | | | | | |
| | |
(Cost $22,592) | | | 14,744 | | | | 26,407 | |
| | |
Greece — 0.6% | | | | | | | | |
| | |
Alpha Services and Holdings SA | | | 14,485 | | | | 24,796 | |
| | |
Eurobank Ergasias Services and Holdings SA | | | 17,815 | | | | 40,701 | |
| | |
Hellenic Telecommunications Organization SA | | | 1,233 | | | | 20,008 | |
| | |
Metlen Energy & Metals SA | | | 719 | | | | 27,091 | |
| | |
National Bank of Greece SA | | | 5,181 | | | | 45,064 | |
| | |
(Cost $109,380) | | | | | | | 157,660 | |
| | |
Hong Kong — 1.2% | | | | | | | | |
| | |
Alibaba Health Information Technology Ltd.* | | | 36,842 | | | | 14,217 | |
| | |
Beijing Enterprises Water Group Ltd. | | | 28,772 | | | | 8,410 | |
| | |
Bosideng International Holdings Ltd. | | | 26,391 | | | | 12,958 | |
| | |
China Merchants Port Holdings Co. Ltd. | | | 7,436 | | | | 11,153 | |
| | |
China Overseas Land & Investment Ltd. | | | 25,691 | | | | 40,774 | |
| | |
China Resources Gas Group Ltd. | | | 6,347 | | | | 21,400 | |
| | |
China Resources Land Ltd. | | | 21,105 | | | | 59,930 | |
| | |
China Ruyi Holdings Ltd.* | | | 41,857 | | | | 12,127 | |
| | |
Chow Tai Fook Jewellery Group Ltd. | | | 13,756 | | | | 11,727 | |
| | |
Far East Horizon Ltd. | | | 10,270 | | | | 7,176 | |
| | |
Geely Automobile Holdings Ltd. | | | 37,214 | | | | 42,078 | |
| | |
Kunlun Energy Co. Ltd. | | | 26,615 | | | | 26,648 | |
| | |
Orient Overseas International Ltd. | | | 836 | | | | 11,628 | |
| | |
Sino Biopharmaceutical Ltd. | | | 68,556 | | | | 28,388 | |
| | |
Want Want China Holdings Ltd. | | | 32,681 | | | | 18,895 | |
| | |
(Cost $479,908) | | | | | | | 327,509 | |
| | |
Hungary — 0.1% | | | | | | | | |
| | |
MOL Hungarian Oil & Gas PLC | | | | | | | | |
| | |
(Cost $24,663) | | | 2,959 | | | | 22,478 | |
| | |
India — 17.9% | | | | | | | | |
| | |
ABB India Ltd. | | | 366 | | | | 34,632 | |
| | |
Adani Green Energy Ltd.* | | | 2,144 | | | | 46,989 | |
| | |
APL Apollo Tubes Ltd. | | | 1,116 | | | | 19,455 | |
| | |
Ashok Leyland Ltd. | | | 9,600 | | | | 29,354 | |
| | |
Asian Paints Ltd. | | | 2,599 | | | | 96,893 | |
| | |
Astral Ltd. | | | 795 | | | | 18,193 | |
| | |
AU Small Finance Bank Ltd., 144A | | | 2,381 | | | | 19,551 | |
| | |
Axis Bank Ltd. | | | 14,977 | | | | 209,866 | |
| | |
Balkrishna Industries Ltd. | | | 514 | | | | 17,342 | |
| | |
Bharti Airtel Ltd. | | | 16,949 | | | | 321,121 | |
| | |
Britannia Industries Ltd. | | | 747 | | | | 52,150 | |
See Notes to Financial Statements.
34 | DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Cipla Ltd. | | | 3,420 | | | | 67,482 | |
| | |
Colgate-Palmolive India Ltd. | | | 919 | | | | 39,888 | |
| | |
Dabur India Ltd. | | | 3,519 | | | | 26,733 | |
| | |
Eicher Motors Ltd. | | | 870 | | | | 51,456 | |
| | |
GAIL India Ltd. | | | 14,638 | | | | 41,484 | |
| | |
GMR Airports Infrastructure Ltd.* | | | 14,178 | | | | 15,971 | |
| | |
Grasim Industries Ltd. | | | 1,710 | | | | 55,025 | |
| | |
Havells India Ltd. | | | 1,700 | | | | 38,498 | |
| | |
HCL Technologies Ltd. | | | 6,300 | | | | 131,696 | |
| | |
HDFC Bank Ltd. | | | 28,165 | | | | 549,691 | |
| | |
Hero MotoCorp Ltd. | | | 802 | | | | 52,166 | |
| | |
Hindalco Industries Ltd. | | | 8,514 | | | | 71,196 | |
| | |
Hindustan Unilever Ltd. | | | 5,479 | | | | 181,477 | |
| | |
ICICI Prudential Life Insurance Co. Ltd., 144A | | | 2,296 | | | | 20,618 | |
| | |
Indian Hotels Co. Ltd. | | | 5,552 | | | | 42,862 | |
| | |
Info Edge India Ltd. | | | 483 | | | | 44,221 | |
| | |
Infosys Ltd. | | | 15,268 | | | | 353,833 | |
| | |
Infosys Ltd., ADR | | | 6,651 | | | | 154,835 | |
| | |
InterGlobe Aviation Ltd.*, 144A | | | 1,167 | | | | 67,206 | |
| | |
Kotak Mahindra Bank Ltd. | | | 7,199 | | | | 152,853 | |
| | |
Macrotech Developers Ltd., 144A | | | 2,008 | | | | 30,020 | |
| | |
Mahindra & Mahindra Ltd. | | | 6,160 | | | | 206,045 | |
| | |
Marico Ltd. | | | 3,537 | | | | 27,292 | |
| | |
Max Healthcare Institute Ltd. | | | 5,022 | | | | 51,641 | |
| | |
Nestle India Ltd. | | | 2,221 | | | | 66,223 | |
| | |
PI Industries Ltd. | | | 494 | | | | 26,478 | |
| | |
Pidilite Industries Ltd. | | | 1,000 | | | | 37,239 | |
| | |
Power Grid Corp. of India Ltd. | | | 31,262 | | | | 125,762 | |
| | |
Reliance Industries Ltd. | | | 20,143 | | | | 725,120 | |
| | |
Shree Cement Ltd. | | | 63 | | | | 19,141 | |
| | |
Siemens Ltd. | | | 591 | | | | 48,572 | |
| | |
Sona Blw Precision Forgings Ltd., 144A | | | 2,733 | | | | 22,267 | |
| | |
SRF Ltd. | | | 830 | | | | 25,380 | |
| | |
Supreme Industries Ltd. | | | 429 | | | | 27,031 | |
| | |
Suzlon Energy Ltd.* | | | 63,804 | | | | 57,694 | |
| | |
Tata Consumer Products Ltd. | | | 3,981 | | | | 56,966 | |
| | |
Thermax Ltd. | | | 279 | | | | 14,546 | |
| | |
Torrent Pharmaceuticals Ltd. | | | 733 | | | | 30,459 | |
| | |
Trent Ltd. | | | 1,217 | | | | 103,876 | |
| | |
TVS Motor Co. Ltd. | | | 1,588 | | | | 53,266 | |
| | |
Union Bank of India Ltd. | | | 10,282 | | | | 14,900 | |
| | |
UPL Ltd. | | | 3,029 | | | | 21,609 | |
| | |
Vedanta Ltd. | | | 9,143 | | | | 51,067 | |
| | |
Zomato Ltd.* | | | 44,249 | | | | 132,175 | |
| | |
(Cost $3,597,821) | | | | | | | 4,999,506 | |
| | |
Indonesia — 1.2% | | | | | | | | |
| | |
Amman Mineral Internasional PT* | | | 43,971 | | | | 30,300 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
PT Bank Rakyat Indonesia Persero Tbk | | | 451,814 | | | | 150,556 | |
| | |
PT Barito Pacific Tbk | | | 202,380 | | | | 14,994 | |
| | |
PT Chandra Asri Pacific Tbk | | | 52,103 | | | | 33,629 | |
| | |
PT Kalbe Farma Tbk | | | 142,363 | | | | 15,199 | |
| | |
PT Merdeka Copper Gold Tbk* | | | 66,750 | | | | 10,193 | |
| | |
PT Telkom Indonesia Persero Tbk | | | 333,840 | | | | 66,098 | |
| | |
PT Unilever Indonesia Tbk | | | 51,759 | | | | 7,602 | |
| | |
(Cost $387,964) | | | | | | | 328,571 | |
| | |
Kazakhstan — 0.0% | | | | | | | | |
| | |
Solidcore Resources PLC* (a) | | | 487 | | | | 1,485 | |
| | |
Solidcore Resources PLC* (a) | | | 1,583 | | | | 0 | |
| | |
(Cost $40,174) | | | | | | | 1,485 | |
| | |
Kuwait — 0.6% | | | | | | | | |
| | |
Kuwait Finance House KSCP | | | 68,558 | | | | 163,068 | |
| | |
Mabanee Co KPSC | | | 4,498 | | | | 12,626 | |
| | |
(Cost $157,557) | | | | | | | 175,694 | |
| | |
Malaysia — 2.2% | | | | | | | | |
| | |
AMMB Holdings Bhd | | | 15,600 | | | | 18,767 | |
| | |
Axiata Group Bhd | | | 17,983 | | | | 10,609 | |
| | |
Celcomdigi Bhd | | | 23,200 | | | | 20,771 | |
| | |
CIMB Group Holdings Bhd | | | 45,973 | | | | 87,213 | |
| | |
Gamuda Bhd | | | 12,859 | | | | 22,312 | |
| | |
IHH Healthcare Bhd | | | 15,200 | | | | 22,048 | |
| | |
Kuala Lumpur Kepong Bhd | | | 2,670 | | | | 13,441 | |
| | |
Malayan Banking Bhd | | | 36,653 | | | | 91,410 | |
| | |
Malaysia Airports Holdings Bhd | | | 6,328 | | | | 15,372 | |
| | |
Maxis Bhd | | | 11,700 | | | | 10,448 | |
| | |
MR DIY Group M Bhd, 144A | | | 14,100 | | | | 6,720 | |
| | |
Nestle Malaysia Bhd | | | 500 | | | | 12,261 | |
| | |
Petronas Chemicals Group Bhd | | | 18,300 | | | | 24,598 | |
| | |
Petronas Dagangan Bhd | | | 1,900 | | | | 9,266 | |
| | |
Petronas Gas Bhd | | | 5,300 | | | | 22,414 | |
| | |
PPB Group Bhd | | | 3,300 | | | | 11,146 | |
| | |
Press Metal Aluminium Holdings Bhd | | | 25,400 | | | | 29,205 | |
| | |
Public Bank Bhd | | | 98,175 | | | | 109,474 | |
| | |
QL Resources Bhd | | | 7,400 | | | | 11,128 | |
| | |
RHB Bank Bhd | | | 10,083 | | | | 14,299 | |
| | |
SD Guthrie Bhd | | | 13,900 | | | | 14,728 | |
| | |
Sime Darby Bhd | | | 20,200 | | | | 11,590 | |
| | |
Telekom Malaysia Bhd | | | 5,800 | | | | 9,071 | |
| | |
YTL Corp. Bhd | | | 21,100 | | | | 14,156 | |
| | |
YTL Power International Bhd | | | 15,900 | | | | 14,272 | |
| | |
(Cost $519,873) | | | | | | | 626,719 | |
| | |
Mexico — 2.4% | | | | | | | | |
| | |
America Movil SAB de CV, Series B | | | 123,612 | | | | 102,567 | |
| | |
Arca Continental SAB de CV | | | 3,394 | | | | 30,468 | |
| | |
Cemex SAB de CV, Series CPO | | | 97,734 | | | | 59,552 | |
See Notes to Financial Statements.
DBX ETF Trust | 35
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Fibra Uno Administracion SA de CV REIT | | | 18,492 | | | | 21,829 | |
| | |
Fomento Economico Mexicano SAB de CV | | | 11,841 | | | | 121,427 | |
| | |
Grupo Aeroportuario del Pacifico SAB de CV, Class B | | | 2,555 | | | | 45,362 | |
| | |
Grupo Aeroportuario del Sureste SAB de CV, Class B | | | 1,210 | | | | 32,520 | |
| | |
Grupo Bimbo SAB de CV, Series A | | | 8,796 | | | | 31,554 | |
| | |
Grupo Financiero Banorte SAB de CV, Class O | | | 17,434 | | | | 120,883 | |
| | |
Orbia Advance Corp. SAB de CV | | | 5,347 | | | | 5,730 | |
| | |
Wal-Mart de Mexico SAB de CV | | | 34,120 | | | | 109,023 | |
| | |
(Cost $662,607) | | | | | | | 680,915 | |
| | |
Netherlands — 0.1% | | | | | | | | |
| | |
NEPI Rockcastle NV * | | | | | | | | |
| | |
(Cost $24,867) | | | 3,824 | | | | 31,064 | |
| | |
Peru — 0.3% | | | | | | | | |
| | |
Credicorp Ltd. | | | | | | | | |
| | |
(Cost $62,468) | | | 454 | | | | 80,971 | |
| | |
Philippines — 0.2% | | | | | | | | |
| | |
Ayala Corp. | | | 1,320 | | | | 14,223 | |
| | |
JG Summit Holdings, Inc. | | | 17,770 | | | | 7,437 | |
| | |
PLDT, Inc. | | | 515 | | | | 13,758 | |
| | |
SM Investments Corp. | | | 1,432 | | | | 22,570 | |
| | |
(Cost $69,717) | | | | | | | 57,988 | |
| | |
Poland — 1.1% | | | | | | | | |
| | |
Allegro.eu SA*, 144A | | | 3,908 | | | | 38,522 | |
| | |
Budimex SA | | | 85 | | | | 13,249 | |
| | |
CD Projekt SA | | | 442 | | | | 20,955 | |
| | |
KGHM Polska Miedz SA | | | 926 | | | | 33,280 | |
| | |
mBank SA* | | | 103 | | | | 17,068 | |
| | |
ORLEN SA* | | | 3,669 | | | | 61,123 | |
| | |
Powszechna Kasa Oszczednosci Bank Polski SA | | | 5,864 | | | | 87,882 | |
| | |
Santander Bank Polska SA | | | 230 | | | | 30,944 | |
| | |
(Cost $219,311) | | | | | | | 303,023 | |
| | |
Qatar — 0.6% | | | | | | | | |
| | |
Qatar Fuel QSC | | | 3,952 | | | | 15,793 | |
| | |
Qatar Gas Transport Co. Ltd. | | | 17,822 | | | | 22,002 | |
| | |
Qatar National Bank QPSC | | | 31,185 | | | | 135,669 | |
| | |
(Cost $196,976) | | | | | | | 173,464 | |
| | |
Russia — 0.0% | | | | | | | | |
| | |
Gazprom PJSC* (a) | | | 68,905 | | | | 0 | |
| | |
LUKOIL PJSC* (a) | | | 2,409 | | | | 0 | |
| | |
Mobile TeleSystems PJSC*, ADR (a) | | | 2,662 | | | | 0 | |
| | |
Moscow Exchange MICEX-RTS PJSC* (a) | | | 8,602 | | | | 0 | |
| | |
Novatek PJSC* (a) | | | 5,300 | | | | 0 | |
| | |
Novolipetsk Steel PJSC* (a) | | | 8,462 | | | | 0 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
PhosAgro PJSC* (a) | | | 168 | | | | 0 | |
| | |
PhosAgro PJSC*, GDR (a) | | | 300 | | | | 0 | |
| | |
PhosAgro PJSC, GDR* (a) | | | 4 | | | | 0 | |
| | |
Polyus PJSC* (a) | | | 193 | | | | 0 | |
| | |
(Cost $634,818) | | | | | | | 0 | |
| | |
Saudi Arabia — 2.3% | | | | | | | | |
| | |
ACWA Power Co. | | | 984 | | | | 110,446 | |
| | |
Alinma Bank | | | 8,041 | | | | 66,855 | |
| | |
Bank AlBilad | | | 3,978 | | | | 40,812 | |
| | |
Dr Sulaiman Al Habib Medical Services Group Co. | | | 559 | | | | 45,583 | |
| | |
Etihad Etisalat Co. | | | 2,550 | | | | 34,316 | |
| | |
Mobile Telecommunications Co. Saudi Arabia | | | 3,000 | | | | 8,938 | |
| | |
Saudi Arabian Oil Co., 144A | | | 24,315 | | | | 181,102 | |
| | |
Saudi Basic Industries Corp. | | | 6,017 | | | | 119,936 | |
| | |
Saudi Electricity Co. | | | 5,739 | | | | 26,825 | |
| | |
Savola Group* | | | 2,273 | | | | 16,112 | |
| | |
(Cost $641,347) | | | | | | | 650,925 | |
| | |
Singapore — 0.0% | | | | | | | | |
| | |
BOC Aviation Ltd., 144A | | | | | | | | |
| | |
(Cost $11,623) | | | 1,457 | | | | 12,552 | |
| | |
South Africa — 4.9% | | | | | | | | |
| | |
Absa Group Ltd. | | | 5,260 | | | | 52,099 | |
| | |
Anglo American Platinum Ltd. | | | 454 | | | | 15,741 | |
| | |
Aspen Pharmacare Holdings Ltd. | | | 2,580 | | | | 34,873 | |
| | |
Bid Corp. Ltd. | | | 2,121 | | | | 53,654 | |
| | |
Bidvest Group Ltd. | | | 2,289 | | | | 37,542 | |
| | |
Capitec Bank Holdings Ltd. | | | 558 | | | | 91,956 | |
| | |
Clicks Group Ltd. | | | 1,595 | | | | 33,570 | |
| | |
Discovery Ltd. | | | 3,532 | | | | 30,436 | |
| | |
FirstRand Ltd. | | | 32,986 | | | | 159,737 | |
| | |
Gold Fields Ltd. | | | 5,954 | | | | 83,145 | |
| | |
Impala Platinum Holdings Ltd. | | | 5,889 | | | | 25,539 | |
| | |
Kumba Iron Ore Ltd. | | | 440 | | | | 8,746 | |
| | |
MTN Group Ltd. | | | 11,506 | | | | 57,585 | |
| | |
Naspers Ltd., Class N | | | 1,191 | | | | 246,702 | |
| | |
Nedbank Group Ltd. | | | 3,039 | | | | 50,782 | |
| | |
Northam Platinum Holdings Ltd. | | | 2,332 | | | | 13,848 | |
| | |
Old Mutual Ltd. | | | 32,825 | | | | 23,849 | |
| | |
Pepkor Holdings Ltd., 144A | | | 16,454 | | | | 20,295 | |
| | |
Sanlam Ltd. | | | 12,032 | | | | 60,238 | |
| | |
Sasol Ltd. | | | 3,929 | | | | 30,445 | |
| | |
Shoprite Holdings Ltd. | | | 3,426 | | | | 59,833 | |
| | |
Sibanye Stillwater Ltd. | | | 19,424 | | | | 18,850 | |
| | |
Standard Bank Group Ltd. | | | 8,913 | | | | 120,480 | |
| | |
Vodacom Group Ltd. | | | 4,310 | | | | 26,712 | |
| | |
Woolworths Holdings Ltd. | | | 5,473 | | | | 19,932 | |
| | |
(Cost $1,348,429) | | | | | | | 1,376,589 | |
| | |
South Korea — 6.1% | | | | | | | | |
| | |
Amorepacific Corp. | | | 202 | | | | 18,811 | |
See Notes to Financial Statements.
36 | DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
CJ CheilJedang Corp. | | | 47 | | | | 11,329 | |
| | |
Coway Co. Ltd. | | | 375 | | | | 18,864 | |
| | |
Doosan Bobcat, Inc. | | | 381 | | | | 11,351 | |
| | |
Doosan Enerbility Co. Ltd.* | | | 3,022 | | | | 40,946 | |
| | |
Hana Financial Group, Inc. | | | 1,977 | | | | 91,609 | |
| | |
Hanjin Kal Corp. | | | 178 | | | | 9,154 | |
| | |
Hanwha Solutions Corp. | | | 772 | | | | 14,910 | |
| | |
HD Hyundai Co. Ltd. | | | 305 | | | | 18,471 | |
| | |
HD Hyundai Electric Co. Ltd. | �� | | 145 | | | | 33,161 | |
| | |
HMM Co. Ltd. | | | 1,658 | | | | 21,063 | |
| | |
HYBE Co. Ltd. | | | 138 | | | | 19,049 | |
| | |
Hyundai Engineering & Construction Co. Ltd. | | | 524 | | | | 12,552 | |
| | |
Hyundai Glovis Co. Ltd. | | | 260 | | | | 21,799 | |
| | |
Kakao Corp. | | | 1,959 | | | | 54,553 | |
| | |
KakaoBank Corp. | | | 1,099 | | | | 18,182 | |
| | |
KB Financial Group, Inc. | | | 2,564 | | | | 164,875 | |
| | |
Korea Zinc Co. Ltd. | | | 55 | | | | 22,027 | |
| | |
Korean Air Lines Co. Ltd. | | | 1,048 | | | | 17,299 | |
| | |
Krafton, Inc.* | | | 192 | | | | 46,999 | |
| | |
Kumho Petrochemical Co. Ltd. | | | 119 | | | | 12,195 | |
| | |
LG Chem Ltd. | | | 330 | | | | 79,421 | |
| | |
LG Corp. | | | 651 | | | | 38,597 | |
| | |
LG Display Co. Ltd.* | | | 2,107 | | | | 17,760 | |
| | |
LG Electronics, Inc. | | | 716 | | | | 53,277 | |
| | |
LG Energy Solution Ltd.* | | | 302 | | | | 87,716 | |
| | |
LG H&H Co. Ltd. | | | 67 | | | | 17,780 | |
| | |
LG Uplus Corp. | | | 1,461 | | | | 10,664 | |
| | |
Lotte Chemical Corp. | | | 134 | | | | 8,296 | |
| | |
Mirae Asset Securities Co. Ltd. | | | 1,197 | | | | 7,491 | |
| | |
NAVER Corp. | | | 860 | | | | 108,864 | |
| | |
NCSoft Corp. | | | 98 | | | | 13,763 | |
| | |
Netmarble Corp.*, 144A | | | 150 | | | | 6,838 | |
| | |
POSCO Future M Co. Ltd. | | | 209 | | | | 33,560 | |
| | |
Samsung C&T Corp. | | | 557 | | | | 61,585 | |
| | |
Samsung E&A Co. Ltd.* | | | 992 | | | | 18,825 | |
| | |
Samsung SDI Co. Ltd. | | | 366 | | | | 96,990 | |
| | |
Shinhan Financial Group Co. Ltd. | | | 2,862 | | | | 120,192 | |
| | |
SK Biopharmaceuticals Co. Ltd.* | | | 211 | | | | 18,165 | |
| | |
SK Bioscience Co. Ltd.* | | | 184 | | | | 7,645 | |
| | |
SK Innovation Co. Ltd.* | | | 413 | | | | 34,008 | |
| | |
SK Square Co. Ltd.* | | | 638 | | | | 37,492 | |
| | |
SK Telecom Co. Ltd. | | | 370 | | | | 15,289 | |
| | |
SK, Inc. | | | 243 | | | | 26,049 | |
| | |
SKC Co. Ltd.* | | | 130 | | | | 12,534 | |
| | |
Woori Financial Group, Inc. | | | 4,041 | | | | 48,461 | |
| | |
Yuhan Corp. | | | 376 | | | | 39,687 | |
| | |
(Cost $1,944,917) | | | | | | | 1,700,148 | |
| | |
Taiwan — 25.4% | | | | | | | | |
| | |
Acer, Inc. | | | 18,941 | | | | 25,904 | |
| | |
Airtac International Group | | | 909 | | | | 24,579 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
AUO Corp.* | | | 43,513 | | | | 22,375 | |
| | |
Cathay Financial Holding Co. Ltd. | | | 61,095 | | | | 121,273 | |
| | |
Chailease Holding Co. Ltd. | | | 9,180 | | | | 41,753 | |
| | |
China Airlines Ltd. | | | 21,022 | | | | 13,537 | |
| | |
China Steel Corp. | | | 79,930 | | | | 55,594 | |
| | |
Chunghwa Telecom Co. Ltd. | | | 25,058 | | | | 97,130 | |
| | |
CTBC Financial Holding Co. Ltd. | | | 103,403 | | | | 105,536 | |
| | |
Delta Electronics, Inc. | | | 13,377 | | | | 167,056 | |
| | |
E.Sun Financial Holding Co. Ltd. | | | 92,642 | | | | 81,666 | |
| | |
Eva Airways Corp. | | | 17,784 | | | | 19,652 | |
| | |
Evergreen Marine Corp. Taiwan Ltd. | | | 6,987 | | | | 41,062 | |
| | |
Far Eastern New Century Corp. | | | 20,050 | | | | 22,720 | |
| | |
Far EasTone Telecommunications Co. Ltd. | | | 12,313 | | | | 34,834 | |
| | |
First Financial Holding Co. Ltd. | | | 75,117 | | | | 63,987 | |
| | |
Fubon Financial Holding Co. Ltd. | | | 52,438 | | | | 150,643 | |
| | |
Hotai Motor Co. Ltd. | | | 2,140 | | | | 44,151 | |
| | |
Hua Nan Financial Holdings Co. Ltd. | | | 53,655 | | | | 42,770 | |
| | |
Lite-On Technology Corp. | | | 13,000 | | | | 43,482 | |
| | |
MediaTek, Inc. | | | 10,121 | | | | 392,311 | |
| | |
Mega Financial Holding Co. Ltd. | | | 78,814 | | | | 95,961 | |
| | |
Nan Ya Plastics Corp. | | | 32,034 | | | | 45,362 | |
| | |
PharmaEssentia Corp.* | | | 1,580 | | | | 34,524 | |
| | |
President Chain Store Corp. | | | 3,406 | | | | 29,972 | |
| | |
Shanghai Commercial & Savings Bank Ltd. | | | 25,000 | | | | 31,455 | |
| | |
SinoPac Financial Holdings Co. Ltd. | | | 74,830 | | | | 56,140 | |
| | |
Taishin Financial Holding Co. Ltd. | | | 72,642 | | | | 42,009 | |
| | |
Taiwan Cooperative Financial Holding Co. Ltd. | | | 71,698 | | | | 58,049 | |
| | |
Taiwan High Speed Rail Corp. | | | 13,623 | | | | 12,733 | |
| | |
Taiwan Mobile Co. Ltd. | | | 12,023 | | | | 42,094 | |
| | |
Taiwan Semiconductor Manufacturing Co. Ltd. | | | 162,722 | | | | 4,801,800 | |
| | |
Uni-President Enterprises Corp. | | | 32,748 | | | | 84,557 | |
| | |
United Microelectronics Corp. | | | 72,869 | | | | 126,422 | |
| | |
Voltronic Power Technology Corp. | | | 425 | | | | 26,504 | |
| | |
Wan Hai Lines Ltd. | | | 4,523 | | | | 11,721 | |
| | |
(Cost $3,767,411) | | | | | | | 7,111,318 | |
| | |
Thailand — 2.0% | | | | | | | | |
| | |
Advanced Info Service PCL, NVDR | | | 7,700 | | | | 56,194 | |
| | |
Airports of Thailand PCL, NVDR | | | 28,400 | | | | 50,137 | |
| | |
Bangkok Dusit Medical Services PCL, NVDR | | | 75,200 | | | | 61,658 | |
| | |
Bangkok Expressway & Metro PCL | | | 51,100 | | | | 11,550 | |
| | |
Bumrungrad Hospital PCL, NVDR | | | 3,500 | | | | 25,336 | |
See Notes to Financial Statements.
DBX ETF Trust | 37
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Central Retail Corp. PCL, NVDR | | | 12,600 | | | | 10,982 | |
| | |
Charoen Pokphand Foods PCL, NVDR | | | 21,200 | | | | 15,409 | |
| | |
CP ALL PCL, NVDR | | | 37,200 | | | | 66,497 | |
| | |
Delta Electronics Thailand PCL, NVDR | | | 21,000 | | | | 66,081 | |
| | |
Gulf Energy Development PCL, NVDR | | | 20,000 | | | | 29,990 | |
| | |
Home Product Center PCL, NVDR | | | 39,700 | | | | 10,616 | |
| | |
Intouch Holdings PCL, NVDR | | | 5,900 | | | | 14,382 | |
| | |
Kasikornbank PCL, NVDR | | | 4,200 | | | | 17,746 | |
| | |
Minor International PCL, NVDR | | | 21,054 | | | | 16,796 | |
| | |
PTT Exploration & Production PCL, NVDR | | | 9,500 | | | | 39,718 | |
| | |
PTT Global Chemical PCL, NVDR | | | 15,500 | | | | 11,449 | |
| | |
PTT Oil & Retail Business PCL, NVDR | | | 20,200 | | | | 9,251 | |
| | |
SCG Packaging PCL, NVDR | | | 8,900 | | | | 6,390 | |
| | |
Siam Cement PCL, NVDR | | | 5,300 | | | | 36,017 | |
| | |
Thai Oil PCL, NVDR | | | 5,400 | | | | 8,456 | |
| | |
(Cost $603,002) | | | | | | | 564,655 | |
| | |
Turkey — 0.6% | | | | | | | | |
| | |
Akbank TAS | | | 20,738 | | | | 35,488 | |
| | |
Haci Omer Sabanci Holding AS | | | 7,273 | | | | 18,786 | |
| | |
KOC Holding AS | | | 5,089 | | | | 27,829 | |
| | |
Turk Hava Yollari AO* | | | 3,645 | | | | 32,151 | |
| | |
Turkiye Is Bankasi AS, Class C | | | 57,831 | | | | 22,441 | |
| | |
Yapi ve Kredi Bankasi AS | | | 23,098 | | | | 21,153 | |
| | |
(Cost $105,131) | | | | | | | 157,848 | |
| | |
United Arab Emirates — 1.6% | | | | | | | | |
| | |
Abu Dhabi Commercial Bank PJSC | | | 19,923 | | | | 47,517 | |
| | |
Abu Dhabi Islamic Bank PJSC | | | 9,395 | | | | 32,281 | |
| | |
Aldar Properties PJSC | | | 26,719 | | | | 53,396 | |
| | |
Emaar Properties PJSC | | | 43,697 | | | | 100,412 | |
| | |
Emirates Telecommunications Group Co. PJSC | | | 22,681 | | | | 112,018 | |
| | |
First Abu Dhabi Bank PJSC | | | 29,159 | | | | 106,382 | |
| | |
(Cost $421,103) | | | | | | | 452,006 | |
| | |
United States — 0.2% | | | | | | | | |
| | |
BeiGene Ltd. * | | | | | | | | |
| | |
(Cost $51,647) | | | 4,558 | | | | 68,308 | |
| | |
TOTAL COMMON STOCKS | | | | | | | | |
| | |
(Cost $25,282,284) | | | | | | | 27,676,676 | |
| | |
PREFERRED STOCKS — 1.6% | | | | | | | | |
| | |
Brazil — 1.3% | | | | | | | | |
| | |
Banco Bradesco SA | | | 34,595 | | | | 95,539 | |
| | |
Cia Energetica de Minas Gerais | | | 12,321 | | | | 25,303 | |
| | |
Companhia Paranaense de Energia, Class B | | | 7,124 | | | | 13,120 | |
| | |
Gerdau SA | | | 9,370 | | | | 30,278 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Itau Unibanco Holding SA | | | 32,069 | | | | 207,817 | |
| | |
Klabin SA | | | 1 | | | | 1 | |
| | |
(Cost $350,617) | | | | | | | 372,058 | |
| | |
Chile — 0.2% | | | | | | | | |
| | |
Sociedad Quimica y Minera de Chile SA, Class B | | | | | | | | |
| | |
(Cost $60,597) | | | 969 | | | | 37,623 | |
| | |
Colombia — 0.1% | | | | | | | | |
| | |
Bancolombia SA | | | | | | | | |
| | |
(Cost $21,437) | | | 3,129 | | | | 26,136 | |
| | |
South Korea — 0.0% | | | | | | | | |
| | |
LG Chem Ltd. | | | | | | | | |
| | |
(Cost $11,393) | | | 53 | | | | 8,589 | |
| | |
TOTAL PREFERRED STOCKS | | | | | | | | |
| | |
(Cost $444,044) | | | | | | | 444,406 | |
| | |
RIGHTS — 0.0% | | | | | | | | |
| | |
Brazil — 0.0% | | | | | | | | |
| | |
Equatorial Energia SA* , expires 10/4/24 | | | | | | | | |
| | |
(Cost $0) | | | 452 | | | | 152 | |
| | |
Saudi Arabia — 0.0% | | | | | | | | |
| | |
Savola Group* , expires 9/24/24 | | | | | | | | |
| | |
(Cost $7,199) | | | 1,992 | | | | 8,451 | |
| | |
TOTAL RIGHTS | | | | | | | | |
| | |
(Cost $7,199) | | | | | | | 8,603 | |
| | |
WARRANTS — 0.0% | | | | | | | | |
| | |
Thailand — 0.0% | | | | | | | | |
| | |
BTS Group Holdings PCL*, expires 11/7/24 | | | 3,050 | | | | 1 | |
| | |
BTS Group Holdings PCL*, expires 11/20/26 | | | 6,100 | | | | 11 | |
| | |
TOTAL WARRANTS | | | | | | | | |
| | |
(Cost $0) | | | | | | | 12 | |
| | |
EXCHANGE-TRADED FUNDS — 0.1% | | | | | | | | |
| | |
iShares ESG Aware MSCI EM ETF | | | | | | | | |
| | |
(Cost $26,760) | | | 800 | | | | 27,440 | |
| | |
SECURITIES LENDING COLLATERAL — 0.2% | | | | | | | | |
| | |
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (b)(c) | | | | | | | | |
| | |
(Cost $34,336) | | | 34,336 | | | | 34,336 | |
See Notes to Financial Statements.
38 | DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
CASH EQUIVALENTS — 0.7% | | | | | | | | |
| | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (b) | | | | | | | | |
| | |
(Cost $203,173) | | | 203,173 | | | | 203,173 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
TOTAL INVESTMENTS — 101.4% | | | | | | | | |
| | |
(Cost $25,997,796) | | | | | | | 28,394,646 | |
| |
Other assets and liabilities, net (d) — (1.4%) | | | | (378,505 | ) |
| | |
NET ASSETS — 100.0% | | | | | | | 28,016,141 | |
A summary of the Fund’s transactions with affiliated investments during the year ended August 31, 2024 is as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Value ($) at 8/31/2023 | | Purchases Cost
($) | | Sales
Proceeds ($) | | Net Realized
Gain/(Loss)
($) | | Net Change
in Unrealized Appreciation (Depreciation) ($) | | Income ($) | | Capital Gain
Distributions
($) | | Number of
Shares at
8/31/2024 | | Value ($) at
8/31/2024 | | |
| | | | | | | | |
EXCHANGE-TRADED FUNDS — 0.0% | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (e) | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | |
2,689 | | | 34,856 | | | | (37,982 | ) | | | 468 | | | | (31 | ) | | | 400 | | | | — | | | | — | | | | — | | | | | |
| | | | | | | |
SECURITIES LENDING COLLATERAL — 0.2% | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | |
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (b)(c) | | | | | | | | | | | | | | | | | |
| | | | | | | | | |
— | | | 34,336 | (f) | | | — | | | | — | | | | — | | | | 179 | | | | — | | | | 34,336 | | | | 34,336 | | | | | |
| | | | | | | | |
CASH EQUIVALENTS — 0.7% | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (b) | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | |
191,969 | | | 1,472,932 | | | | (1,461,728 | ) | | | — | | | | — | | | | 1,886 | | | | — | | | | 203,173 | | | | 203,173 | | | | | |
| | | | | | | | | |
194,658 | | | 1,542,124 | | | | (1,499,710 | ) | | | 468 | | | | (31 | ) | | | 2,465 | | | | — | | | | 237,509 | | | | 237,509 | | | | | |
| * | Non-income producing security. |
| (a) | Investment was valued using significant unobservable inputs. |
| (b) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
| (c) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. |
| (d) | “Other assets and liabilities, net” includes pending sales that are on loan. The value of securities loaned at August 31, 2024 amounted to $31,831, which is 0.1% of net assets. |
| (e) | Affiliated fund advised by DBX Advisors LLC. |
| (f) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the year ended August 31, 2024. |
| ADR: | American Depositary Receipt |
| CPO: | Ordinary Participation Certificates |
| GDR: | Global Depositary Receipt |
| KSCP: | Kuwait Shareholding Company Public |
| NVDR: | Non Voting Depositary Receipt |
| PJSC: | Public Joint Stock Company |
| QPSC: | Qatari Public Shareholders Company |
| QSC: | Qatari Shareholders Company |
| REIT: | Real Estate Investment Trust |
| 144A: | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
Securities are listed in country of domicile.
See Notes to Financial Statements.
DBX ETF Trust | 39
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (Continued)
August 31, 2024
At August 31, 2024, open futures contracts purchased were as follows:
| | | | | | | | | | | | | | | | | | | | |
| Contract Description | | Currency | | Number of
Contracts | | Notional
Amount ($) | | Contract Value
($) | | Expiration
Date | | Unrealized
Appreciation ($) |
| | | | | | |
MSCI Emerging Markets Index Future | | USD | | 1 | | | 54,950 | | | | 55,000 | | | | 9/20/2024 | | | | 50 | |
For information on the Fund’s policy and additional disclosures regarding futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
Currency Abbreviations
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of August 31, 2024 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
| | | | | | | | | | | | | | | | |
| Assets | | Level 1 | | Level 2 | | Level 3 | | Total |
| | | | |
Common Stocks (a) | | $ | 27,675,191 | | | $ | — | | | $ | 1,485 | | | $ | 27,676,676 | |
| | | | |
Preferred Stocks (a) | | | 444,406 | | | | — | | | | — | | | | 444,406 | |
| | | | |
Rights (a) | | | 8,603 | | | | — | | | | — | | | | 8,603 | |
| | | | |
Warrants | | | 12 | | | | — | | | | — | | | | 12 | |
| | | | |
Exchange-Traded Funds | | | 27,440 | | | | — | | | | — | | | | 27,440 | |
| | | | |
Short-Term Investments (a) | | | 237,509 | | | | — | | | | — | | | | 237,509 | |
| | | | |
Derivatives (b) | | | | | | | | | | | | | | | | |
Futures Contracts | | | 50 | | | | — | | | | — | | | | 50 | |
| | | | |
TOTAL | | $ | 28,393,211 | | | $ | — | | | $ | 1,485 | | | $ | 28,394,696 | |
| (a) | See Schedule of Investments for additional detailed categorizations. |
| (b) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
See Notes to Financial Statements.
40 | DBX ETF Trust
Schedule of Investments
Xtrackers MSCI USA Climate Action Equity ETF
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
COMMON STOCKS — 99.5% | | | | | | | | |
| | |
Communication Services — 10.8% | | | | | | | | |
| | |
Alphabet, Inc., Class A | | | 312,358 | | | | 51,033,050 | |
| | |
Alphabet, Inc., Class C | | | 268,689 | | | | 44,363,241 | |
| | |
AT&T, Inc. | | | 452,867 | | | | 9,012,053 | |
| | |
Charter Communications, Inc., Class A * | | | 5,896 | | | | 2,049,096 | |
| | |
Comcast Corp., Class A | | | 250,973 | | | | 9,931,002 | |
| | |
Liberty Media Corp.-Liberty Formula One, Class C * | | | 12,581 | | | | 981,947 | |
| | |
Match Group, Inc. * | | | 16,337 | | | | 607,900 | |
| | |
Meta Platforms, Inc., Class A | | | 139,138 | | | | 72,534,031 | |
| | |
Netflix, Inc. * | | | 27,400 | | | | 19,216,990 | |
| | |
Pinterest, Inc., Class A * | | | 37,219 | | | | 1,192,497 | |
| | |
Snap, Inc., Class A * | | | 67,004 | | | | 625,817 | |
| | |
T-Mobile US, Inc. | | | 34,015 | | | | 6,759,461 | |
| | |
Verizon Communications, Inc. | | | 266,304 | | | | 11,126,181 | |
| | |
Walt Disney Co. | | | 116,143 | | | | 10,497,004 | |
| | |
(Cost $169,358,689) | | | | | | | 239,930,270 | |
| | |
Consumer Discretionary — 10.9% | | | | | | | | |
| | |
Airbnb, Inc., Class A * | | | 28,170 | | | | 3,304,623 | |
| | |
Amazon.com, Inc. * | | | 570,226 | | | | 101,785,341 | |
| | |
Booking Holdings, Inc. | | | 2,161 | | | | 8,447,846 | |
| | |
Chipotle Mexican Grill, Inc. * | | | 88,087 | | | | 4,939,919 | |
| | |
Deckers Outdoor Corp. * | | | 1,627 | | | | 1,560,765 | |
| | |
eBay, Inc. | | | 32,693 | | | | 1,932,156 | |
| | |
Ford Motor Co. | | | 246,130 | | | | 2,754,195 | |
| | |
Garmin Ltd. | | | 9,660 | | | | 1,770,581 | |
| | |
General Motors Co. | | | 72,806 | | | | 3,624,283 | |
| | |
Hilton Worldwide Holdings, Inc. | | | 15,914 | | | | 3,495,351 | |
| | |
Home Depot, Inc. | | | 62,776 | | | | 23,132,956 | |
| | |
Hyatt Hotels Corp., Class A | | | 3,036 | | | | 461,229 | |
| | |
Las Vegas Sands Corp. | | | 24,354 | | | | 949,562 | |
| | |
Lululemon Athletica, Inc. * | | | 7,302 | | | | 1,894,650 | |
| | |
Marriott International, Inc., Class A | | | 15,566 | | | | 3,653,185 | |
| | |
McDonald’s Corp. | | | 45,667 | | | | 13,182,236 | |
| | |
MercadoLibre, Inc. * | | | 2,890 | | | | 5,958,197 | |
| | |
MGM Resorts International * | | | 14,555 | | | | 547,122 | |
| | |
NIKE, Inc., Class B | | | 76,632 | | | | 6,384,978 | |
| | |
Starbucks Corp. | | | 71,569 | | | | 6,768,280 | |
| | |
Tesla, Inc. * | | | 182,233 | | | | 39,017,908 | |
| | |
Ulta Beauty, Inc. * | | | 3,048 | | | | 1,075,456 | |
| | |
Williams-Sonoma, Inc. | | | 7,708 | | | | 1,035,416 | |
| | |
Wynn Resorts Ltd. | | | 6,599 | | | | 507,331 | |
| | |
Yum! Brands, Inc. | | | 17,931 | | | | 2,419,251 | |
| | |
(Cost $211,837,664) | | | | | | | 240,602,817 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Consumer Staples — 5.4% | | | | | | | | |
| | |
Campbell Soup Co. | | | 12,264 | | | | 609,766 | |
| | |
Church & Dwight Co., Inc. | | | 15,859 | | | | 1,615,715 | |
| | |
Clorox Co. | | | 8,000 | | | | 1,266,480 | |
| | |
Coca-Cola Co. | | | 259,295 | | | | 18,791,109 | |
| | |
Colgate-Palmolive Co. | | | 50,261 | | | | 5,352,796 | |
| | |
Constellation Brands, Inc., Class A | | | 10,335 | | | | 2,487,738 | |
| | |
Estee Lauder Cos., Inc., Class A | | | 14,572 | | | | 1,335,669 | |
| | |
General Mills, Inc. | | | 35,400 | | | | 2,559,066 | |
| | |
Hershey Co. | | | 9,791 | | | | 1,890,250 | |
| | |
Kellanova | | | 17,626 | | | | 1,420,832 | |
| | |
Keurig Dr Pepper, Inc. | | | 67,180 | | | | 2,459,460 | |
| | |
Kimberly-Clark Corp. | | | 21,617 | | | | 3,127,115 | |
| | |
McCormick & Co., Inc. | | | 16,299 | | | | 1,304,409 | |
| | |
Molson Coors Beverage Co., Class B | | | 11,581 | | | | 625,027 | |
| | |
Mondelez International, Inc., Class A | | | 85,321 | | | | 6,126,901 | |
| | |
Monster Beverage Corp. * | | | 49,165 | | | | 2,317,146 | |
| | |
PepsiCo, Inc. | | | 87,001 | | | | 15,040,733 | |
| | |
Procter & Gamble Co. | | | 149,864 | | | | 25,707,671 | |
| | |
Target Corp. | | | 29,550 | | | | 4,539,471 | |
| | |
Walmart, Inc. | | | 280,685 | | | | 21,677,303 | |
| | |
(Cost $108,008,073) | | | | | | | 120,254,657 | |
| | |
Energy — 3.8% | | | | | | | | |
| | |
Baker Hughes Co. | | | 64,767 | | | | 2,277,855 | |
| | |
Chevron Corp. | | | 111,081 | | | | 16,434,434 | |
| | |
ConocoPhillips | | | 74,485 | | | | 8,475,648 | |
| | |
Diamondback Energy, Inc. | | | 11,080 | | | | 2,161,819 | |
| | |
EOG Resources, Inc. | | | 36,760 | | | | 4,735,423 | |
| | |
Exxon Mobil Corp. | | | 284,248 | | | | 33,524,209 | |
| | |
Hess Corp. | | | 17,845 | | | | 2,463,681 | |
| | |
Kinder Morgan, Inc. | | | 128,787 | | | | 2,777,936 | |
| | |
Marathon Oil Corp. | | | 39,753 | | | | 1,138,923 | |
| | |
Occidental Petroleum Corp. | | | 42,436 | | | | 2,418,003 | |
| | |
ONEOK, Inc. | | | 37,306 | | | | 3,445,582 | |
| | |
Schlumberger NV | | | 91,254 | | | | 4,014,264 | |
| | |
(Cost $79,227,133) | | | | | | | 83,867,777 | |
| | |
Financials — 13.1% | | | | | | | | |
| | |
American Express Co. | | | 36,427 | | | | 9,421,844 | |
| | |
American International Group, Inc. | | | 42,677 | | | | 3,288,263 | |
| | |
Aon PLC, Class A | | | 12,563 | | | | 4,318,154 | |
| | |
Apollo Global Management, Inc. | | | 25,083 | | | | 2,902,856 | |
| | |
Arch Capital Group Ltd. * | | | 23,700 | | | | 2,680,233 | |
| | |
Arthur J Gallagher & Co. | | | 13,690 | | | | 4,005,283 | |
| | |
Bank of America Corp. | | | 449,497 | | | | 18,317,003 | |
| | |
Bank of New York Mellon Corp. | | | 47,764 | | | | 3,258,460 | |
| | |
BlackRock, Inc. | | | 9,430 | | | | 8,504,068 | |
See Notes to Financial Statements.
DBX ETF Trust | 41
Schedule of Investments
Xtrackers MSCI USA Climate Action Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Blackstone, Inc. | | | 45,828 | | | | 6,524,074 | |
| | |
Block, Inc. * | | | 35,290 | | | | 2,331,963 | |
| | |
Carlyle Group, Inc. | | | 14,469 | | | | 580,641 | |
| | |
Cboe Global Markets, Inc. | | | 6,608 | | | | 1,357,283 | |
| | |
Charles Schwab Corp. | | | 95,331 | | | | 6,206,048 | |
| | |
Chubb Ltd. | | | 24,522 | | | | 6,968,662 | |
| | |
CME Group, Inc. | | | 22,735 | | | | 4,904,849 | |
| | |
Discover Financial Services | | | 15,824 | | | | 2,194,947 | |
| | |
FactSet Research Systems, Inc. | | | 2,413 | | | | 1,020,313 | |
| | |
Fidelity National Information Services, Inc. | | | 36,518 | | | | 3,010,909 | |
| | |
Fiserv, Inc. * | | | 37,399 | | | | 6,529,865 | |
| | |
Global Payments, Inc. | | | 16,219 | | | | 1,800,471 | |
| | |
Goldman Sachs Group, Inc. | | | 20,544 | | | | 10,482,576 | |
| | |
Hartford Financial Services Group, Inc. | | | 19,565 | | | | 2,271,497 | |
| | |
Intercontinental Exchange, Inc. | | | 36,247 | | | | 5,855,703 | |
| | |
Jack Henry & Associates, Inc. | | | 4,509 | | | | 780,192 | |
| | |
JPMorgan Chase & Co. | | | 182,588 | | | | 41,045,782 | |
| | |
Marsh & McLennan Cos., Inc. | | | 31,102 | | | | 7,076,016 | |
| | |
Mastercard, Inc., Class A | | | 52,776 | | | | 25,508,752 | |
| | |
Moody’s Corp. | | | 10,409 | | | | 5,076,886 | |
| | |
Morgan Stanley | | | 77,690 | | | | 8,049,461 | |
| | |
Nasdaq, Inc. | | | 27,455 | | | | 1,978,956 | |
| | |
Northern Trust Corp. | | | 12,587 | | | | 1,148,060 | |
| | |
PayPal Holdings, Inc. * | | | 63,179 | | | | 4,576,055 | |
| | |
Progressive Corp. | | | 37,051 | | | | 9,344,262 | |
| | |
S&P Global, Inc. | | | 20,244 | | | | 10,390,031 | |
| | |
State Street Corp. | | | 19,165 | | | | 1,669,272 | |
| | |
T. Rowe Price Group, Inc. | | | 14,422 | | | | 1,529,309 | |
| | |
Tradeweb Markets, Inc., Class A | | | 7,185 | | | | 849,554 | |
| | |
Travelers Cos., Inc. | | | 14,748 | | | | 3,363,576 | |
| | |
US Bancorp | | | 98,023 | | | | 4,629,626 | |
| | |
Visa, Inc., Class A | | | 100,174 | | | | 27,685,088 | |
| | |
W.R. Berkley Corp. | | | 19,271 | | | | 1,150,479 | |
| | |
Wells Fargo & Co. | | | 224,246 | | | | 13,111,664 | |
| | |
Willis Towers Watson PLC | | | 6,341 | | | | 1,852,270 | |
| | |
(Cost $216,751,711) | | | | | | | 289,551,256 | |
| | |
Health Care — 13.1% | | | | | | | | |
| | |
Abbott Laboratories | | | 109,867 | | | | 12,444,635 | |
| | |
AbbVie, Inc. | | | 112,112 | | | | 22,008,707 | |
| | |
Agilent Technologies, Inc. | | | 18,779 | | | | 2,683,895 | |
| | |
Amgen, Inc. | | | 33,874 | | | | 11,308,157 | |
| | |
Biogen, Inc. * | | | 9,340 | | | | 1,912,458 | |
| | |
Boston Scientific Corp. * | | | 94,161 | | | | 7,701,428 | |
| | |
Bristol-Myers Squibb Co. | | | 128,384 | | | | 6,412,781 | |
| | |
Catalent, Inc. * | | | 11,371 | | | | 693,176 | |
| | |
Charles River Laboratories International, Inc. * | | | 3,313 | | | | 655,146 | |
| | |
CVS Health Corp. | | | 79,510 | | | | 4,551,152 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Danaher Corp. | | | 43,150 | | | | 11,620,726 | |
| | |
DaVita, Inc. * | | | 3,342 | | | | 504,375 | |
| | |
Edwards Lifesciences Corp. * | | | 37,858 | | | | 2,648,546 | |
| | |
Eli Lilly & Co. | | | 51,188 | | | | 49,141,504 | |
| | |
Gilead Sciences, Inc. | | | 79,989 | | | | 6,319,131 | |
| | |
Humana, Inc. | | | 7,624 | | | | 2,702,479 | |
| | |
IDEXX Laboratories, Inc. * | | | 5,347 | | | | 2,573,671 | |
| | |
Illumina, Inc. * | | | 10,093 | | | | 1,326,220 | |
| | |
Incyte Corp. * | | | 11,622 | | | | 763,100 | |
| | |
IQVIA Holdings, Inc. * | | | 11,763 | | | | 2,958,983 | |
| | |
Johnson & Johnson | | | 152,579 | | | | 25,306,753 | |
| | |
Labcorp Holdings, Inc. | | | 5,304 | | | | 1,219,337 | |
| | |
McKesson Corp. | | | 8,316 | | | | 4,665,941 | |
| | |
Merck & Co., Inc. | | | 160,309 | | | | 18,988,601 | |
| | |
Mettler-Toledo International, Inc. * | | | 1,346 | | | | 1,937,002 | |
| | |
Pfizer, Inc. | | | 357,700 | | | | 10,376,877 | |
| | |
Regeneron Pharmaceuticals, Inc. * | | | 6,825 | | | | 8,085,509 | |
| | |
Revvity, Inc. | | | 7,633 | | | | 935,348 | |
| | |
Teleflex, Inc. | | | 2,859 | | | | 700,941 | |
| | |
Thermo Fisher Scientific, Inc. | | | 24,162 | | | | 14,861,321 | |
| | |
UnitedHealth Group, Inc. | | | 58,419 | | | | 34,478,894 | |
| | |
Vertex Pharmaceuticals, Inc. * | | | 16,476 | | | | 8,170,284 | |
| | |
Waters Corp. * | | | 3,766 | | | | 1,304,354 | |
| | |
West Pharmaceutical Services, Inc. | | | 4,608 | | | | 1,445,207 | |
| | |
Zimmer Biomet Holdings, Inc. | | | 12,982 | | | | 1,498,902 | |
| | |
Zoetis, Inc. | | | 28,873 | | | | 5,297,907 | |
| | |
(Cost $245,754,163) | | | | | | | 290,203,448 | |
| | |
Industrials — 7.1% | | | | | | | | |
| | |
3M Co. | | | 35,505 | | | | 4,782,168 | |
| | |
AECOM | | | 8,531 | | | | 854,294 | |
| | |
AMETEK, Inc. | | | 14,990 | | | | 2,564,040 | |
| | |
Automatic Data Processing, Inc. | | | 25,984 | | | | 7,169,245 | |
| | |
Booz Allen Hamilton Holding Corp. | | | 8,617 | | | | 1,368,207 | |
| | |
Broadridge Financial Solutions, Inc. | | | 7,343 | | | | 1,563,031 | |
| | |
Carlisle Cos., Inc. | | | 3,170 | | | | 1,343,446 | |
| | |
Caterpillar, Inc. | | | 31,054 | | | | 11,058,329 | |
| | |
Cintas Corp. | | | 5,745 | | | | 4,625,414 | |
| | |
Copart, Inc. * | | | 54,546 | | | | 2,888,756 | |
| | |
CSX Corp. | | | 124,050 | | | | 4,251,194 | |
| | |
Cummins, Inc. | | | 8,569 | | | | 2,680,812 | |
| | |
Dayforce, Inc. * | | | 9,588 | | | | 548,146 | |
| | |
Deere & Co. | | | 16,701 | | | | 6,442,244 | |
| | |
Dover Corp. | | | 8,965 | | | | 1,667,759 | |
| | |
Eaton Corp. PLC | | | 25,332 | | | | 7,775,151 | |
| | |
Emerson Electric Co. | | | 36,746 | | | | 3,872,661 | |
| | |
Equifax, Inc. | | | 7,895 | | | | 2,424,791 | |
See Notes to Financial Statements.
42 | DBX ETF Trust
Schedule of Investments
Xtrackers MSCI USA Climate Action Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Expeditors International of Washington, Inc. | | | 9,107 | | | | 1,123,895 | |
| | |
FedEx Corp. | | | 15,255 | | | | 4,557,736 | |
| | |
Fortive Corp. | | | 22,760 | | | | 1,693,344 | |
| | |
Graco, Inc. | | | 10,975 | | | | 914,766 | |
| | |
Hubbell, Inc. | | | 3,354 | | | | 1,341,332 | |
| | |
IDEX Corp. | | | 4,769 | | | | 984,703 | |
| | |
Illinois Tool Works, Inc. | | | 18,910 | | | | 4,787,634 | |
| | |
JB Hunt Transport Services, Inc. | | | 5,336 | | | | 924,195 | |
| | |
Johnson Controls International PLC | | | 43,538 | | | | 3,171,743 | |
| | |
Lennox International, Inc. | | | 1,995 | | | | 1,177,429 | |
| | |
Norfolk Southern Corp. | | | 14,289 | | | | 3,660,270 | |
| | |
Old Dominion Freight Line, Inc. | | | 12,526 | | | | 2,415,013 | |
| | |
Owens Corning | | | 5,416 | | | | 913,842 | |
| | |
PACCAR, Inc. | | | 32,970 | | | | 3,171,055 | |
| | |
Paychex, Inc. | | | 20,373 | | | | 2,672,938 | |
| | |
Paycom Software, Inc. | | | 3,137 | | | | 510,641 | |
| | |
Pentair PLC | | | 10,494 | | | | 930,713 | |
| | |
Quanta Services, Inc. | | | 9,217 | | | | 2,535,873 | |
| | |
Republic Services, Inc. | | | 13,830 | | | | 2,879,544 | |
| | |
Rockwell Automation, Inc. | | | 7,264 | | | | 1,976,026 | |
| | |
Trane Technologies PLC | | | 14,311 | | | | 5,175,716 | |
| | |
TransUnion | | | 12,430 | | | | 1,203,348 | |
| | |
Uber Technologies, Inc. * | | | 118,548 | | | | 8,669,415 | |
| | |
Union Pacific Corp. | | | 38,599 | | | | 9,884,818 | |
| | |
United Parcel Service, Inc., Class B | | | 46,310 | | | | 5,953,151 | |
| | |
Verisk Analytics, Inc. | | | 8,994 | | | | 2,453,743 | |
| | |
Waste Connections, Inc. | | | 16,441 | | | | 3,066,247 | |
| | |
Waste Management, Inc. | | | 25,308 | | | | 5,366,308 | |
| | |
Westinghouse Air Brake Technologies Corp. | | | 11,136 | | | | 1,888,332 | |
| | |
Xylem, Inc. | | | 15,128 | | | | 2,080,554 | |
| | |
(Cost $125,952,973) | | | | | | | 155,964,012 | |
| | |
Information Technology — 28.3% | | | | | | | | |
| | |
Accenture PLC, Class A | | | 39,773 | | | | 13,600,377 | |
| | |
Adobe, Inc. * | | | 28,356 | | | | 16,287,970 | |
| | |
Advanced Micro Devices, Inc. * | | | 102,288 | | | | 15,195,905 | |
| | |
Akamai Technologies, Inc. * | | | 9,871 | | | | 1,005,263 | |
| | |
Analog Devices, Inc. | | | 31,862 | | | | 7,482,472 | |
| | |
ANSYS, Inc. * | | | 5,665 | | | | 1,820,844 | |
| | |
Apple, Inc. | | | 539,002 | | | | 123,431,458 | |
| | |
Aspen Technology, Inc. * | | | 1,794 | | | | 420,047 | |
| | |
Atlassian Corp., Class A * | | | 10,012 | | | | 1,657,987 | |
| | |
Autodesk, Inc. * | | | 13,501 | | | | 3,488,659 | |
| | |
Bentley Systems, Inc., Class B | | | 9,951 | | | | 512,178 | |
| | |
Broadcom, Inc. | | | 280,782 | | | | 45,716,925 | |
| | |
Cadence Design Systems, Inc. * | | | 17,568 | | | | 4,724,562 | |
| | |
Cisco Systems, Inc. | | | 256,493 | | | | 12,963,156 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Cloudflare, Inc., Class A * | | | 19,117 | | | | 1,570,270 | |
| | |
Cognizant Technology Solutions Corp., Class A | | | 31,459 | | | | 2,446,567 | |
| | |
Crowdstrike Holdings, Inc., Class A * | | | 14,544 | | | | 4,032,760 | |
| | |
Dell Technologies, Inc., Class C | | | 17,854 | | | | 2,062,851 | |
| | |
First Solar, Inc. * | | | 6,509 | | | | 1,479,951 | |
| | |
Fortinet, Inc. * | | | 41,036 | | | | 3,147,872 | |
| | |
Gartner, Inc. * | | | 4,873 | | | | 2,397,321 | |
| | |
Gen Digital, Inc. | | | 35,750 | | | | 945,945 | |
| | |
Hewlett Packard Enterprise Co. | | | 79,924 | | | | 1,548,128 | |
| | |
HubSpot, Inc. * | | | 3,163 | | | | 1,578,559 | |
| | |
Intel Corp. | | | 269,825 | | | | 5,946,943 | |
| | |
International Business Machines Corp. | | | 57,959 | | | | 11,715,253 | |
| | |
Intuit, Inc. | | | 17,703 | | | | 11,157,493 | |
| | |
Manhattan Associates, Inc. * | | | 3,881 | | | | 1,026,253 | |
| | |
Microsoft Corp. | | | 243,387 | | | | 101,526,453 | |
| | |
NVIDIA Corp. | | | 1,079,190 | | | | 128,822,910 | |
| | |
Okta, Inc. * | | | 9,973 | | | | 785,174 | |
| | |
Oracle Corp. | | | 104,345 | | | | 14,742,905 | |
| | |
Palantir Technologies, Inc., Class A * | | | 128,494 | | | | 4,044,991 | |
| | |
Palo Alto Networks, Inc. * | | | 20,364 | | | | 7,386,430 | |
| | |
PTC, Inc. * | | | 7,435 | | | | 1,331,534 | |
| | |
QUALCOMM, Inc. | | | 70,758 | | | | 12,403,878 | |
| | |
Roper Technologies, Inc. | | | 6,737 | | | | 3,735,060 | |
| | |
Salesforce, Inc. | | | 61,381 | | | | 15,523,255 | |
| | |
ServiceNow, Inc. * | | | 12,974 | | | | 11,092,770 | |
| | |
Snowflake, Inc., Class A * | | | 19,038 | | | | 2,174,711 | |
| | |
Synopsys, Inc. * | | | 9,641 | | | | 5,009,271 | |
| | |
Texas Instruments, Inc. | | | 57,669 | | | | 12,360,774 | |
| | |
Trimble, Inc. * | | | 15,278 | | | | 866,110 | |
| | |
Twilio, Inc., Class A * | | | 10,899 | | | | 684,021 | |
| | |
Workday, Inc., Class A * | | | 13,273 | | | | 3,493,321 | |
| | |
Zscaler, Inc. * | | | 5,632 | | | | 1,126,287 | |
| | |
(Cost $433,494,374) | | | | | | | 626,473,824 | |
| | |
Materials — 2.4% | | | | | | | | |
| | |
Albemarle Corp. | | | 7,453 | | | | 672,633 | |
| | |
Avery Dennison Corp. | | | 5,175 | | | | 1,148,074 | |
| | |
Ball Corp. | | | 20,264 | | | | 1,293,046 | |
| | |
Corteva, Inc. | | | 43,991 | | | | 2,520,684 | |
| | |
CRH PLC | | | 43,390 | | | | 3,938,510 | |
| | |
Crown Holdings, Inc. | | | 7,734 | | | | 699,231 | |
| | |
DuPont de Nemours, Inc. | | | 26,218 | | | | 2,208,867 | |
| | |
Ecolab, Inc. | | | 16,286 | | | | 4,123,290 | |
| | |
Freeport-McMoRan, Inc. | | | 90,798 | | | | 4,020,535 | |
| | |
Linde PLC | | | 30,522 | | | | 14,597,147 | |
| | |
Martin Marietta Materials, Inc. | | | 3,875 | | | | 2,069,870 | |
| | |
Newmont Corp. | | | 73,919 | | | | 3,946,535 | |
See Notes to Financial Statements.
DBX ETF Trust | 43
Schedule of Investments
Xtrackers MSCI USA Climate Action Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Nucor Corp. | | | 15,088 | | | | 2,292,018 | |
| | |
PPG Industries, Inc. | | | 14,999 | | | | 1,945,820 | |
| | |
RPM International, Inc. | | | 7,916 | | | | 920,235 | |
| | |
Sherwin-Williams Co. | | | 15,667 | | | | 5,786,920 | |
| | |
Steel Dynamics, Inc. | | | 10,029 | | | | 1,198,566 | |
| | |
(Cost $44,306,334) | | | | | | | 53,381,981 | |
| | |
Real Estate — 2.3% | | | | | | | | |
| | |
Alexandria Real Estate Equities, Inc. REIT | | | 10,592 | | | | 1,266,485 | |
| | |
American Tower Corp. REIT | | | 29,550 | | | | 6,620,973 | |
| | |
AvalonBay Communities, Inc. REIT | | | 8,905 | | | | 2,010,126 | |
| | |
BXP, Inc. REIT | | | 9,221 | | | | 693,604 | |
| | |
CBRE Group, Inc., Class A * | | | 19,207 | | | | 2,211,494 | |
| | |
Crown Castle, Inc. REIT | | | 27,400 | | | | 3,069,348 | |
| | |
Digital Realty Trust, Inc. REIT | | | 19,817 | | | | 3,004,455 | |
| | |
Equinix, Inc. REIT | | | 6,005 | | | | 5,010,332 | |
| | |
Equity Residential REIT | | | 21,380 | | | | 1,600,934 | |
| | |
Healthpeak Properties, Inc. REIT | | | 45,424 | | | | 1,012,047 | |
| | |
Kimco Realty Corp. REIT | | | 41,237 | | | | 959,173 | |
| | |
Prologis, Inc. REIT | | | 58,545 | | | | 7,483,222 | |
| | |
Realty Income Corp. REIT | | | 53,379 | | | | 3,315,370 | |
| | |
Regency Centers Corp. REIT | | | 10,743 | | | | 780,909 | |
| | |
Simon Property Group, Inc. REIT | | | 21,049 | | | | 3,522,550 | |
| | |
VICI Properties, Inc. REIT | | | 65,053 | | | | 2,177,974 | |
| | |
Welltower, Inc. REIT | | | 37,936 | | | | 4,578,116 | |
| | |
Weyerhaeuser Co. REIT | | | 45,286 | | | | 1,380,770 | |
| | |
(Cost $43,646,176) | | | | | | | 50,697,882 | |
| | |
Utilities — 2.3% | | | | | | | | |
| | |
Alliant Energy Corp. | | | 16,192 | | | | 943,508 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
American Electric Power Co., Inc. | | | 33,931 | | | | 3,402,601 | |
| | |
American Water Works Co., Inc. | | | 12,380 | | | | 1,771,825 | |
| | |
Atmos Energy Corp. | | | 9,571 | | | | 1,251,312 | |
| | |
Consolidated Edison, Inc. | | | 22,153 | | | | 2,249,859 | |
| | |
Constellation Energy Corp. | | | 19,971 | | | | 3,928,296 | |
| | |
Dominion Energy, Inc. | | | 53,794 | | | | 3,007,085 | |
| | |
Duke Energy Corp. | | | 48,847 | | | | 5,566,116 | |
| | |
Essential Utilities, Inc. | | | 16,014 | | | | 624,386 | |
| | |
Eversource Energy | | | 22,476 | | | | 1,517,804 | |
| | |
Exelon Corp. | | | 63,921 | | | | 2,434,751 | |
| | |
NextEra Energy, Inc. | | | 129,822 | | | | 10,451,969 | |
| | |
Public Service Enterprise Group, Inc. | | | 31,935 | | | | 2,578,751 | |
| | |
Sempra | | | 40,420 | | | | 3,321,716 | |
| | |
Southern Co. | | | 69,941 | | | | 6,042,902 | |
| | |
Xcel Energy, Inc. | | | 35,453 | | | | 2,170,787 | |
| | |
(Cost $46,690,922) | | | | | | | 51,263,668 | |
| | |
TOTAL COMMON STOCKS | | | | | | | | |
| | |
(Cost $1,725,028,212) | | | | | | | 2,202,191,592 | |
| | |
CASH EQUIVALENTS — 0.2% | | | | | | | | |
| | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (a) | | | | | | | | |
| | |
(Cost $3,995,298) | | | 3,995,298 | | | | 3,995,298 | |
| | |
TOTAL INVESTMENTS — 99.7% | | | | | | | | |
| | |
(Cost $1,729,023,510) | | | | | | | 2,206,186,890 | |
| | |
Other assets and liabilities, net — 0.3% | | | | | | | 6,262,463 | |
| | |
NET ASSETS — 100.0% | | | | | | | 2,212,449,353 | |
A summary of the Fund’s transactions with affiliated investments during the year ended August 31, 2024 is as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Value ($) at 8/31/2023 | | Purchases Cost
($) | | Sales Proceeds ($) | | Net Realized
Gain/(Loss)
($) | | Net Change
in Unrealized
Appreciation
(Depreciation)
($) | | Income ($) | | Capital Gain
Distributions
($) | | Number of
Shares at
8/31/2024 | | Value ($) at
8/31/2024 |
| | | | | | |
SECURITIES LENDING COLLATERAL — 0.0% | | | | | | | | | | | | | | | | | | | | | | | | | |
| |
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (a)(b) | | | | | |
| | | | | | | | |
565,175 | | | — | | | | (565,175 | ) (c) | | | — | | | | — | | | | 14,444 | | | | — | | | | — | | | | — | |
| | | | | | | |
CASH EQUIVALENTS — 0.2% | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (a) | | | | | | | | | | | | | |
| | | | | | | | |
6,190,253 | | | 40,568,835 | | | | (42,763,790 | ) | | | — | | | | — | | | | 200,730 | | | | — | | | | 3,995,298 | | | | 3,995,298 | |
| | | | | | | | | |
6,755,428 | | | 40,568,835 | | | | (43,328,965 | ) | | | — | | | | — | | | | 215,174 | | | | — | | | | 3,995,298 | | | | 3,995,298 | |
| * | Non-income producing security. |
| (a) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
| (b) | Represents collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. |
See Notes to Financial Statements.
44 | DBX ETF Trust
Schedule of Investments
Xtrackers MSCI USA Climate Action Equity ETF (Continued)
August 31, 2024
| (c) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the year ended August 31, 2024. |
| REIT: | Real Estate Investment Trust |
At August 31, 2024, open futures contracts purchased were as follows:
| | | | | | | | | | | | | | | | | | | | | | | | |
| Contract Description | | Currency | | Number of
Contracts | | Notional
Amount ($) | | Contract Value
($) | | Expiration
Date | | Unrealized
Appreciation ($) |
| | | | | | |
E-Mini S&P 500 ESG Futures | | | USD | | | | 15 | | | | 3,709,951 | | | | 3,769,500 | | | | 9/20/2024 | | | | 59,549 | |
| | | | | | |
S&P 500 E-Mini Futures | | | USD | | | | 10 | | | | 2,861,137 | | | | 2,861,250 | | | | 12/20/2024 | | | | 113 | |
| | | | | | |
S&P 500 E-Mini Futures | | | USD | | | | 3 | | | | 847,500 | | | | 849,150 | | | | 9/20/2024 | | | | 1,650 | |
| | | | | | |
S&P Mid 400 E-Mini Futures | | | USD | | | | 6 | | | | 1,801,740 | | | | 1,858,860 | | | | 9/20/2024 | | | | 57,120 | |
| | | | | | | |
Total unrealized appreciation | | | | | | | | | | | | | | | | | | | | | | | 118,432 | |
For information on the Fund’s policy and additional disclosures regarding futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
Currency Abbreviations
USD U.S. Dollar
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of August 31, 2024 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
| | | | | | | | | | | | | | | | |
| Assets | | Level 1 | | Level 2 | | Level 3 | | Total |
| | | | |
Common Stocks (a) | | $ | 2,202,191,592 | | | $ | — | | | $ | — | | | $ | 2,202,191,592 | |
| | | | |
Short-Term Investments (a) | | | 3,995,298 | | | | — | | | | — | | | | 3,995,298 | |
| | | | |
Derivatives (b) | | | | | | | | | | | | | | | | |
Futures Contracts | | | 118,432 | | | | — | | | | — | | | | 118,432 | |
| | | | |
TOTAL | | $ | 2,206,305,322 | | | $ | — | | | $ | — | | | $ | 2,206,305,322 | |
| (a) | See Schedule of Investments for additional detailed categorizations. |
| (b) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
See Notes to Financial Statements.
DBX ETF Trust | 45
Schedule of Investments
Xtrackers MSCI USA ESG Leaders Equity ETF
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
COMMON STOCKS — 99.4% | | | | | | | | |
| | |
Communication Services — 9.3% | | | | | | | | |
| | |
Alphabet, Inc., Class A | | | 235,008 | | | | 38,395,607 | |
| | |
Alphabet, Inc., Class C | | | 202,144 | | | | 33,375,996 | |
| | |
Charter Communications, Inc., Class A * | | | 3,663 | | | | 1,273,039 | |
| | |
Comcast Corp., Class A | | | 157,562 | | | | 6,234,728 | |
| | |
Electronic Arts, Inc. | | | 10,105 | | | | 1,534,141 | |
| | |
Fox Corp., Class A | | | 9,556 | | | | 395,332 | |
| | |
Fox Corp., Class B | | | 5,908 | | | | 227,044 | |
| | |
Interpublic Group of Cos., Inc. | | | 15,132 | | | | 493,455 | |
| | |
Omnicom Group, Inc. | | | 7,637 | | | | 766,984 | |
| | |
Take-Two Interactive Software, Inc. * | | | 6,430 | | | | 1,039,795 | |
| | |
Verizon Communications, Inc. | | | 167,576 | | | | 7,001,325 | |
| | |
Walt Disney Co. | | | 73,225 | | | | 6,618,076 | |
| | |
(Cost $89,654,330) | | | | | | | 97,355,522 | |
| | |
Consumer Discretionary — 9.7% | | | | | | | | |
| | |
Aptiv PLC * | | | 10,980 | | | | 785,399 | |
| | |
AutoZone, Inc. * | | | 690 | | | | 2,195,221 | |
| | |
Bath & Body Works, Inc. | | | 8,286 | | | | 254,877 | |
| | |
Best Buy Co., Inc. | | | 8,187 | | | | 821,975 | |
| | |
Booking Holdings, Inc. | | | 1,366 | | | | 5,340,008 | |
| | |
Burlington Stores, Inc. * | | | 2,598 | | | | 696,888 | |
| | |
CarMax, Inc. * | | | 6,142 | | | | 519,306 | |
| | |
D.R. Horton, Inc. | | | 11,681 | | | | 2,204,906 | |
| | |
Darden Restaurants, Inc. | | | 4,589 | | | | 725,750 | |
| | |
Deckers Outdoor Corp. * | | | 1,034 | | | | 991,906 | |
| | |
Dick’s Sporting Goods, Inc. | | | 2,289 | | | | 542,401 | |
| | |
Domino’s Pizza, Inc. | | | 1,362 | | | | 564,154 | |
| | |
DoorDash, Inc., Class A * | | | 12,227 | | | | 1,573,737 | |
| | |
eBay, Inc. | | | 20,949 | | | | 1,238,086 | |
| | |
Genuine Parts Co. | | | 5,520 | | | | 790,795 | |
| | |
Hilton Worldwide Holdings, Inc. | | | 10,048 | | | | 2,206,943 | |
| | |
Home Depot, Inc. | | | 39,564 | | | | 14,579,334 | |
| | |
LKQ Corp. | | | 10,959 | | | | 455,785 | |
| | |
Lowe’s Cos., Inc. | | | 22,781 | | | | 5,661,079 | |
| | |
Lululemon Athletica, Inc. * | | | 4,598 | | | | 1,193,043 | |
| | |
McDonald’s Corp. | | | 28,850 | | | | 8,327,841 | |
| | |
MercadoLibre, Inc. * | | | 1,829 | | | | 3,770,776 | |
| | |
NIKE, Inc., Class B | | | 48,249 | | | | 4,020,107 | |
| | |
NVR, Inc. * | | | 126 | | | | 1,155,730 | |
| | |
O’Reilly Automotive, Inc. * | | | 2,353 | | | | 2,658,819 | |
| | |
Pool Corp. | | | 1,539 | | | | 541,143 | |
| | |
PulteGroup, Inc. | | | 8,668 | | | | 1,141,142 | |
| | |
Rivian Automotive, Inc., Class A *(a) | | | 27,201 | | | | 384,350 | |
| | |
Royal Caribbean Cruises Ltd. * | | | 9,558 | | | | 1,573,438 | |
| | |
Tesla, Inc. * | | | 114,760 | | | | 24,571,264 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
TJX Cos., Inc. | | | 45,411 | | | | 5,325,348 | |
| | |
Tractor Supply Co. | | | 4,266 | | | | 1,141,368 | |
| | |
Ulta Beauty, Inc. * | | | 1,931 | | | | 681,334 | |
| | |
Williams-Sonoma, Inc. | | | 5,139 | | | | 690,322 | |
| | |
Yum! Brands, Inc. | | | 11,216 | | | | 1,513,263 | |
| | |
(Cost $102,619,135) | | | | | | | 100,837,838 | |
| | |
Consumer Staples — 5.5% | | | | | | | | |
| | |
Albertsons Cos., Inc., Class A | | | 13,548 | | | | 265,812 | |
| | |
Bunge Global SA | | | 5,607 | | | | 568,438 | |
| | |
Campbell Soup Co. | | | 7,738 | | | | 384,733 | |
| | |
Church & Dwight Co., Inc. | | | 9,497 | | | | 967,554 | |
| | |
Clorox Co. | | | 4,824 | | | | 763,687 | |
| | |
Coca-Cola Co. | | | 163,397 | | | | 11,841,380 | |
| | |
Colgate-Palmolive Co. | | | 31,036 | | | | 3,305,334 | |
| | |
Conagra Brands, Inc. | | | 19,119 | | | | 596,513 | |
| | |
General Mills, Inc. | | | 22,537 | | | | 1,629,200 | |
| | |
Hormel Foods Corp. | | | 11,636 | | | | 378,752 | |
| | |
J M Smucker Co. | | | 4,235 | | | | 485,670 | |
| | |
Kellanova | | | 10,905 | | | | 879,052 | |
| | |
Keurig Dr Pepper, Inc. | | | 42,406 | | | | 1,552,484 | |
| | |
Kimberly-Clark Corp. | | | 13,440 | | | | 1,944,230 | |
| | |
Kroger Co. | | | 27,141 | | | | 1,444,173 | |
| | |
Lamb Weston Holdings, Inc. | | | 5,756 | | | | 356,411 | |
| | |
McCormick & Co., Inc. | | | 10,527 | | | | 842,476 | |
| | |
PepsiCo, Inc. | | | 54,836 | | | | 9,480,048 | |
| | |
Procter & Gamble Co. | | | 94,374 | | | | 16,188,916 | |
| | |
Target Corp. | | | 18,463 | | | | 2,836,286 | |
| | |
Walgreens Boots Alliance, Inc. | | | 28,059 | | | | 259,546 | |
| | |
(Cost $53,394,155) | | | | | | | 56,970,695 | |
| | |
Energy — 1.9% | | | | | | | | |
| | |
Baker Hughes Co. | | | 39,453 | | | | 1,387,562 | |
| | |
Cheniere Energy, Inc. | | | 9,218 | | | | 1,707,727 | |
| | |
Halliburton Co. | | | 35,869 | | | | 1,115,167 | |
| | |
HF Sinclair Corp. | | | 6,415 | | | | 315,233 | |
| | |
Marathon Petroleum Corp. | | | 14,469 | | | | 2,562,749 | |
| | |
ONEOK, Inc. | | | 23,269 | | | | 2,149,125 | |
| | |
Phillips 66 | | | 17,140 | | | | 2,404,914 | |
| | |
Schlumberger NV | | | 56,690 | | | | 2,493,793 | |
| | |
Targa Resources Corp. | | | 8,439 | | | | 1,239,689 | |
| | |
Valero Energy Corp. | | | 13,139 | | | | 1,927,886 | |
| | |
Williams Cos., Inc. | | | 48,181 | | | | 2,205,244 | |
| | |
(Cost $15,592,855) | | | | | | | 19,509,089 | |
| | |
Financials — 12.3% | | | | | | | | |
| | |
Aflac, Inc. | | | 21,811 | | | | 2,407,062 | |
| | |
Allstate Corp. | | | 10,552 | | | | 1,993,695 | |
| | |
Ally Financial, Inc. | | | 11,208 | | | | 484,073 | |
| | |
American Express Co. | | | 22,991 | | | | 5,946,622 | |
| | |
Ameriprise Financial, Inc. | | | 4,115 | | | | 1,849,446 | |
See Notes to Financial Statements.
46 | DBX ETF Trust
Schedule of Investments
Xtrackers MSCI USA ESG Leaders Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Annaly Capital Management, Inc. REIT | | | 18,438 | | | | 371,710 | |
| | |
Arch Capital Group Ltd. * | | | 14,962 | | | | 1,692,053 | |
| | |
Assurant, Inc. | | | 2,291 | | | | 449,838 | |
| | |
Bank of New York Mellon Corp. | | | 30,160 | | | | 2,057,515 | |
| | |
BlackRock, Inc. | | | 5,960 | | | | 5,374,788 | |
| | |
Capital One Financial Corp. | | | 15,259 | | | | 2,242,005 | |
| | |
Cboe Global Markets, Inc. | | | 4,235 | | | | 869,869 | |
| | |
Charles Schwab Corp. | | | 60,397 | | | | 3,931,845 | |
| | |
Citizens Financial Group, Inc. | | | 19,451 | | | | 837,365 | |
| | |
Discover Financial Services | | | 10,005 | | | | 1,387,793 | |
| | |
Equitable Holdings, Inc. | | | 12,943 | | | | 550,336 | |
| | |
FactSet Research Systems, Inc. | | | 1,496 | | | | 632,569 | |
| | |
Fidelity National Information Services, Inc. | | | 22,249 | | | | 1,834,430 | |
| | |
Fiserv, Inc. * | | | 23,626 | | | | 4,125,100 | |
| | |
Franklin Resources, Inc. | | | 10,779 | | | | 218,167 | |
| | |
Hartford Financial Services Group, Inc. | | | 11,883 | | | | 1,379,616 | |
| | |
Huntington Bancshares, Inc. | | | 58,064 | | | | 869,218 | |
| | |
Intercontinental Exchange, Inc. | | | 22,915 | | | | 3,701,918 | |
| | |
KeyCorp | | | 35,843 | | | | 611,482 | |
| | |
LPL Financial Holdings, Inc. | | | 2,973 | | | | 666,963 | |
| | |
MarketAxess Holdings, Inc. | | | 1,514 | | | | 366,978 | |
| | |
Marsh & McLennan Cos., Inc. | | | 19,626 | | | | 4,465,111 | |
| | |
Mastercard, Inc., Class A | | | 33,248 | | | | 16,070,088 | |
| | |
Moody’s Corp. | | | 6,616 | | | | 3,226,888 | |
| | |
Morgan Stanley | | | 49,070 | | | | 5,084,143 | |
| | |
Nasdaq, Inc. | | | 17,292 | | | | 1,246,407 | |
| | |
Northern Trust Corp. | | | 7,902 | | | | 720,741 | |
| | |
PayPal Holdings, Inc. * | | | 39,703 | | | | 2,875,688 | |
| | |
PNC Financial Services Group, Inc. | | | 15,870 | | | | 2,937,378 | |
| | |
Principal Financial Group, Inc. | | | 9,154 | | | | 745,319 | |
| | |
Progressive Corp. | | | 23,400 | | | | 5,901,480 | |
| | |
Prudential Financial, Inc. | | | 14,312 | | | | 1,734,042 | |
| | |
Raymond James Financial, Inc. | | | 8,038 | | | | 961,104 | |
| | |
Regions Financial Corp. | | | 36,631 | | | | 857,898 | |
| | |
S&P Global, Inc. | | | 12,776 | | | | 6,557,154 | |
| | |
State Street Corp. | | | 11,690 | | | | 1,018,199 | |
| | |
Synchrony Financial | | | 15,715 | | | | 789,836 | |
| | |
T. Rowe Price Group, Inc. | | | 8,815 | | | | 934,743 | |
| | |
Travelers Cos., Inc. | | | 9,139 | | | | 2,084,332 | |
| | |
Truist Financial Corp. | | | 53,460 | | | | 2,376,832 | |
| | |
US Bancorp | | | 62,234 | | | | 2,939,312 | |
| | |
Visa, Inc., Class A | | | 63,071 | | | | 17,430,932 | |
| | |
Willis Towers Watson PLC | | | 4,088 | | | | 1,194,146 | |
| | |
(Cost $103,662,032) | | | | | | | 129,004,229 | |
| | |
Health Care — 11.9% | | | | | | | | |
| | |
Agilent Technologies, Inc. | | | 11,758 | | | | 1,680,453 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Align Technology, Inc. * | | | 2,865 | | | | 679,635 | |
| | |
Amgen, Inc. | | | 21,404 | | | | 7,145,297 | |
| | |
Avantor, Inc. * | | | 28,140 | | | | 727,138 | |
| | |
Biogen, Inc. * | | | 5,775 | | | | 1,182,489 | |
| | |
Bio-Techne Corp. | | | 6,296 | | | | 465,841 | |
| | |
Bristol-Myers Squibb Co. | | | 80,837 | | | | 4,037,808 | |
| | |
Catalent, Inc. * | | | 7,021 | | | | 428,000 | |
| | |
Cencora, Inc. | | | 7,165 | | | | 1,716,519 | |
| | |
Cigna Group | | | 11,324 | | | | 4,097,136 | |
| | |
Cooper Cos., Inc. * | | | 7,786 | | | | 823,214 | |
| | |
Danaher Corp. | | | 26,639 | | | | 7,174,149 | |
| | |
DaVita, Inc. * | | | 2,216 | | | | 334,439 | |
| | |
Dexcom, Inc. * | | | 15,495 | | | | 1,074,423 | |
| | |
Edwards Lifesciences Corp. * | | | 24,224 | | | | 1,694,711 | |
| | |
Elevance Health, Inc. | | | 9,257 | | | | 5,155,131 | |
| | |
Eli Lilly & Co. | | | 32,300 | | | | 31,008,646 | |
| | |
GE HealthCare Technologies, Inc. | | | 17,325 | | | | 1,469,507 | |
| | |
Gilead Sciences, Inc. | | | 49,746 | | | | 3,929,934 | |
| | |
HCA Healthcare, Inc. | | | 8,009 | | | | 3,168,280 | |
| | |
Henry Schein, Inc. * | | | 5,039 | | | | 355,502 | |
| | |
Hologic, Inc. * | | | 9,380 | | | | 762,031 | |
| | |
Humana, Inc. | | | 4,769 | | | | 1,690,467 | |
| | |
IDEXX Laboratories, Inc. * | | | 3,351 | | | | 1,612,937 | |
| | |
Insulet Corp. * | | | 2,812 | | | | 570,189 | |
| | |
IQVIA Holdings, Inc. * | | | 7,279 | | | | 1,831,033 | |
| | |
Johnson & Johnson | | | 96,165 | | | | 15,949,927 | |
| | |
Labcorp Holdings, Inc. | | | 3,345 | | | | 768,982 | |
| | |
Merck & Co., Inc. | | | 101,087 | | | | 11,973,755 | |
| | |
Mettler-Toledo International, Inc. * | | | 857 | | | | 1,233,292 | |
| | |
Molina Healthcare, Inc. * | | | 2,352 | | | | 822,706 | |
| | |
Neurocrine Biosciences, Inc. * | | | 3,865 | | | | 491,087 | |
| | |
Quest Diagnostics, Inc. | | | 4,414 | | | | 692,866 | |
| | |
Solventum Corp. * | | | 5,667 | | | | 363,311 | |
| | |
STERIS PLC | | | 3,954 | | | | 953,309 | |
| | |
Teleflex, Inc. | | | 1,791 | | | | 439,100 | |
| | |
Waters Corp. * | | | 2,405 | | | | 832,972 | |
| | |
West Pharmaceutical Services, Inc. | | | 2,930 | | | | 918,936 | |
| | |
Zimmer Biomet Holdings, Inc. | | | 8,206 | | | | 947,465 | |
| | |
Zoetis, Inc. | | | 18,288 | | | | 3,355,665 | |
| | |
(Cost $103,363,894) | | | | | | | 124,558,282 | |
| | |
Industrials — 8.4% | | | | | | | | |
| | |
3M Co. | | | 22,054 | | | | 2,970,453 | |
| | |
Allegion PLC | | | 3,524 | | | | 489,272 | |
| | |
Automatic Data Processing, Inc. | | | 16,461 | | | | 4,541,754 | |
| | |
Axon Enterprise, Inc. * | | | 3,011 | | | | 1,098,925 | |
| | |
Broadridge Financial Solutions, Inc. | | | 4,662 | | | | 992,353 | |
See Notes to Financial Statements.
DBX ETF Trust | 47
Schedule of Investments
Xtrackers MSCI USA ESG Leaders Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
C.H. Robinson Worldwide, Inc. | | | 4,477 | | | | 463,414 | |
| | |
Carrier Global Corp. | | | 33,056 | | | | 2,405,816 | |
| | |
Caterpillar, Inc. | | | 19,541 | | | | 6,958,550 | |
| | |
Cintas Corp. | | | 3,641 | | | | 2,931,442 | |
| | |
CNH Industrial NV | | | 33,477 | | | | 346,152 | |
| | |
CSX Corp. | | | 77,949 | | | | 2,671,312 | |
| | |
Cummins, Inc. | | | 5,465 | | | | 1,709,725 | |
| | |
Dayforce, Inc. * | | | 6,063 | | | | 346,622 | |
| | |
Deere & Co. | | | 10,459 | | | | 4,034,455 | |
| | |
Delta Air Lines, Inc. | | | 6,334 | | | | 269,132 | |
| | |
Dover Corp. | | | 5,527 | | | | 1,028,188 | |
| | |
Eaton Corp. PLC | | | 15,969 | | | | 4,901,365 | |
| | |
EMCOR Group, Inc. | | | 1,840 | | | | 723,230 | |
| | |
Expeditors International of Washington, Inc. | | | 5,700 | | | | 703,437 | |
| | |
Ferguson Enterprises, Inc. | | | 8,211 | | | | 1,689,085 | |
| | |
Fortive Corp. | | | 13,934 | | | | 1,036,689 | |
| | |
Fortune Brands Innovations, Inc. | | | 4,681 | | | | 371,718 | |
| | |
General Electric Co. | | | 43,764 | | | | 7,642,070 | |
| | |
Graco, Inc. | | | 7,008 | | | | 584,117 | |
| | |
IDEX Corp. | | | 2,884 | | | | 595,488 | |
| | |
Illinois Tool Works, Inc. | | | 11,917 | | | | 3,017,146 | |
| | |
Ingersoll Rand, Inc. | | | 16,331 | | | | 1,493,470 | |
| | |
JB Hunt Transport Services, Inc. | | | 3,236 | | | | 560,475 | |
| | |
Johnson Controls International PLC | | | 27,054 | | | | 1,970,884 | |
| | |
Knight-Swift Transportation Holdings, Inc. | | | 5,988 | | | | 313,651 | |
| | |
Lennox International, Inc. | | | 1,277 | | | | 753,673 | |
| | |
Old Dominion Freight Line, Inc. | | | 7,923 | | | | 1,527,554 | |
| | |
Owens Corning | | | 3,497 | | | | 590,049 | |
| | |
Paychex, Inc. | | | 12,963 | | | | 1,700,746 | |
| | |
Pentair PLC | | | 6,597 | | | | 585,088 | |
| | |
Quanta Services, Inc. | | | 6,030 | | | | 1,659,034 | |
| | |
Rockwell Automation, Inc. | | | 4,794 | | | | 1,304,112 | |
| | |
Toro Co. | | | 3,848 | | | | 356,325 | |
| | |
Trane Technologies PLC | | | 9,056 | | | | 3,275,193 | |
| | |
TransUnion | | | 7,749 | | | | 750,181 | |
| | |
Union Pacific Corp. | | | 24,409 | | | | 6,250,901 | |
| | |
United Parcel Service, Inc., Class B | | | 28,954 | | | | 3,722,037 | |
| | |
United Rentals, Inc. | | | 2,680 | | | | 1,986,577 | |
| | |
Veralto Corp. | | | 9,608 | | | | 1,080,227 | |
| | |
W.W. Grainger, Inc. | | | 1,768 | | | | 1,741,338 | |
| | |
Xylem, Inc. | | | 10,039 | | | | 1,380,664 | |
| | |
(Cost $72,415,588) | | | | | | | 87,524,089 | |
| | |
Information Technology — 34.2% | | | | | | | | |
| | |
Accenture PLC, Class A | | | 25,163 | | | | 8,604,488 | |
| | |
Adobe, Inc. * | | | 17,728 | | | | 10,183,140 | |
| | |
Advanced Micro Devices, Inc. * | | | 64,627 | | | | 9,600,987 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Akamai Technologies, Inc. * | | | 6,047 | | | | 615,826 | |
| | |
ANSYS, Inc. * | | | 3,634 | | | | 1,168,040 | |
| | |
Applied Materials, Inc. | | | 33,055 | | | | 6,520,429 | |
| | |
Aspen Technology, Inc. * | | | 1,098 | | | | 257,086 | |
| | |
Atlassian Corp., Class A * | | | 6,158 | | | | 1,019,765 | |
| | |
Autodesk, Inc. * | | | 8,605 | | | | 2,223,532 | |
| | |
Cadence Design Systems, Inc. * | | | 10,880 | | | | 2,925,958 | |
| | |
DocuSign, Inc. * | | | 8,463 | | | | 501,094 | |
| | |
Enphase Energy, Inc. * | | | 5,316 | | | | 643,449 | |
| | |
Fair Isaac Corp. * | | | 999 | | | | 1,728,540 | |
| | |
First Solar, Inc. * | | | 3,988 | | | | 906,752 | |
| | |
Gartner, Inc. * | | | 3,167 | | | | 1,558,037 | |
| | |
Gen Digital, Inc. | | | 23,006 | | | | 608,739 | |
| | |
Hewlett Packard Enterprise Co. | | | 51,931 | | | | 1,005,903 | |
| | |
HP, Inc. | | | 40,314 | | | | 1,458,560 | |
| | |
HubSpot, Inc. * | | | 1,923 | | | | 959,712 | |
| | |
Intel Corp. | | | 169,747 | | | | 3,741,224 | |
| | |
International Business Machines Corp. | | | 36,667 | | | | 7,411,501 | |
| | |
Intuit, Inc. | | | 11,184 | | | | 7,048,828 | |
| | |
Juniper Networks, Inc. | | | 12,464 | | | | 484,600 | |
| | |
Keysight Technologies, Inc. * | | | 6,914 | | | | 1,065,586 | |
| | |
Lam Research Corp. | | | 5,264 | | | | 4,321,797 | |
| | |
Manhattan Associates, Inc. * | | | 2,383 | | | | 630,137 | |
| | |
Marvell Technology, Inc. | | | 34,315 | | | | 2,616,176 | |
| | |
Microsoft Corp. | | | 282,331 | | | | 117,771,553 | |
| | |
NetApp, Inc. | | | 8,125 | | | | 980,850 | |
| | |
NVIDIA Corp. | | | 983,656 | | | | 117,419,017 | |
| | |
NXP Semiconductors NV | | | 10,174 | | | | 2,608,207 | |
| | |
Palo Alto Networks, Inc. * | | | 12,938 | | | | 4,692,871 | |
| | |
PTC, Inc. * | | | 5,116 | | | | 916,224 | |
| | |
Salesforce, Inc. | | | 38,719 | | | | 9,792,035 | |
| | |
Seagate Technology Holdings PLC | | | 7,983 | | | | 794,708 | |
| | |
ServiceNow, Inc. * | | | 8,183 | | | | 6,996,465 | |
| | |
Synopsys, Inc. * | | | 6,094 | | | | 3,166,321 | |
| | |
Texas Instruments, Inc. | | | 36,330 | | | | 7,786,972 | |
| | |
Trimble, Inc. * | | | 9,760 | | | | 553,294 | |
| | |
Twilio, Inc., Class A * | | | 7,025 | | | | 440,889 | |
| | |
Western Digital Corp. * | | | 12,859 | | | | 843,422 | |
| | |
Workday, Inc., Class A * | | | 8,418 | | | | 2,215,533 | |
| | |
Zscaler, Inc. * | | | 3,701 | | | | 740,126 | |
| | |
(Cost $233,534,489) | | | | | | | 357,528,373 | |
| | |
Materials — 2.8% | | | | | | | | |
| | |
Air Products and Chemicals, Inc. | | | 8,882 | | | | 2,476,746 | |
| | |
Avery Dennison Corp. | | | 3,082 | | | | 683,742 | |
| | |
Ball Corp. | | | 12,734 | | | | 812,557 | |
| | |
CRH PLC | | | 27,451 | | | | 2,491,727 | |
| | |
Ecolab, Inc. | | | 10,270 | | | | 2,600,159 | |
See Notes to Financial Statements.
48 | DBX ETF Trust
Schedule of Investments
Xtrackers MSCI USA ESG Leaders Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
International Flavors & Fragrances, Inc. | | | 10,247 | | | | 1,065,585 | |
| | |
International Paper Co. | | | 14,059 | | | | 680,737 | |
| | |
Linde PLC | | | 19,228 | | | | 9,195,791 | |
| | |
LyondellBasell Industries NV, Class A | | | 10,187 | | | | 1,005,457 | |
| | |
Martin Marietta Materials, Inc. | | | 2,461 | | | | 1,314,568 | |
| | |
Newmont Corp. | | | 46,242 | | | | 2,468,860 | |
| | |
Nucor Corp. | | | 9,611 | | | | 1,460,007 | |
| | |
PPG Industries, Inc. | | | 9,287 | | | | 1,204,802 | |
| | |
Smurfit WestRock PLC | | | 20,626 | | | | 978,085 | |
| | |
Steel Dynamics, Inc. | | | 6,044 | | | | 722,318 | |
| | |
(Cost $25,955,042) | | | | | | | 29,161,141 | |
| | |
Real Estate — 2.3% | | | | | | | | |
| | |
American Tower Corp. REIT | | | 18,616 | | | | 4,171,101 | |
| | |
BXP, Inc. REIT | | | 5,719 | | | | 430,183 | |
| | |
CBRE Group, Inc., Class A * | | | 12,057 | | | | 1,388,243 | |
| | |
Crown Castle, Inc. REIT | | | 17,122 | | | | 1,918,007 | |
| | |
Digital Realty Trust, Inc. REIT | | | 12,977 | | | | 1,967,443 | |
| | |
Equinix, Inc. REIT | | | 3,794 | | | | 3,165,562 | |
| | |
Healthpeak Properties, Inc. REIT | | | 26,747 | | | | 595,923 | |
| | |
Iron Mountain, Inc. REIT | | | 12,254 | | | | 1,387,888 | |
| | |
Prologis, Inc. REIT | | | 36,849 | | | | 4,710,039 | |
| | |
SBA Communications Corp. REIT | | | 4,193 | | | | 950,385 | |
| | |
Welltower, Inc. REIT | | | 23,890 | | | | 2,883,045 | |
| | |
Weyerhaeuser Co. REIT | | | 28,201 | | | | 859,849 | |
| | |
(Cost $24,430,969) | | | | | | | 24,427,668 | |
| | |
Utilities — 1.1% | | | | | | | | |
| | |
American Water Works Co., Inc. | | | 7,709 | | | | 1,103,312 | |
| | |
Atmos Energy Corp. | | | 6,281 | | | | 821,178 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
CMS Energy Corp. | | | 11,906 | | | | 807,941 | |
| | |
Consolidated Edison, Inc. | | | 13,779 | | | | 1,399,395 | |
| | |
Edison International | | | 15,149 | | | | 1,318,417 | |
| | |
Essential Utilities, Inc. | | | 11,347 | | | | 442,420 | |
| | |
Eversource Energy | | | 13,730 | | | | 927,187 | |
| | |
Exelon Corp. | | | 39,340 | | | | 1,498,461 | |
| | |
NiSource, Inc. | | | 17,933 | | | | 592,865 | |
| | |
NRG Energy, Inc. | | | 8,529 | | | | 725,050 | |
| | |
Sempra | | | 25,209 | | | | 2,071,676 | |
| | |
(Cost $11,237,263) | | | | | | | 11,707,902 | |
| | |
TOTAL COMMON STOCKS | | | | | | | | |
(Cost $835,859,752) | | | | | | | 1,038,584,828 | |
| | |
SECURITIES LENDING COLLATERAL — 0.1% | | | | | | | | |
| | |
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (b)(c) | | | | | | | | |
(Cost $354,960) | | | 354,960 | | | | 354,960 | |
| | |
CASH EQUIVALENTS — 0.1% | | | | | | | | |
| | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (b) | | | | | | | | |
(Cost $1,394,044) | | | 1,394,044 | | | | 1,394,044 | |
| | |
TOTAL INVESTMENTS — 99.6% | | | | | | | | |
| | |
(Cost $837,608,756) | | | | | | | 1,040,333,832 | |
| | |
Other assets and liabilities, net — 0.4% | | | | | | | 4,334,200 | |
| | |
NET ASSETS — 100.0% | | | | | | | 1,044,668,032 | |
A summary of the Fund’s transactions with affiliated investments during the year ended August 31, 2024 is as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Value ($) at 8/31/2023 | | Purchases Cost
($) | | Sales Proceeds ($) | | Net Realized
Gain/(Loss)
($) | | Net Change
in Unrealized
Appreciation
(Depreciation)
($) | | Income ($) | | Capital Gain
Distributions
($) | | Number of
Shares at
8/31/2024 | | Value ($) at
8/31/2024 |
| | | | | | |
SECURITIES LENDING COLLATERAL — 0.1% | | | | | | | | | | | | | | | | | | | | | | | | | |
| |
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (b)(c) | | | | | |
| | | | | | | | |
— | | | 354,960 | (d) | | | — | | | | — | | | | — | | | | 27,686 | | | | — | | | | 354,960 | | | | 354,960 | |
| | | | | | | |
CASH EQUIVALENTS — 0.1% | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (b) | | | | | | | | | | | | | |
| | | | | | | | |
4,273,305 | | | 22,548,299 | | | | (25,427,560 | ) | | | — | | | | — | | | | 168,639 | | | | — | | | | 1,394,044 | | | | 1,394,044 | |
| | | | | | | | | |
4,273,305 | | | 22,903,259 | | | | (25,427,560 | ) | | | — | | | | — | | | | 196,325 | | | | — | | | | 1,749,004 | | | | 1,749,004 | |
| * | Non-income producing security. |
| (a) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at August 31, 2024 amounted to $344,923, which is 0.0% of net assets. |
| (b) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
See Notes to Financial Statements.
DBX ETF Trust | 49
Schedule of Investments
Xtrackers MSCI USA ESG Leaders Equity ETF (Continued)
August 31, 2024
| (c) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. |
| (d) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the year ended August 31, 2024. |
| REIT: | Real Estate Investment Trust |
At August 31, 2024, open futures contracts purchased were as follows:
| | | | | | | | | | | | | | | | | | | | | | | | |
| Contract Description | | Currency | | Number of
Contracts | | Notional
Amount ($) | | Contract Value
($) | | Expiration
Date | | Unrealized
Appreciation ($) |
| | | | | | |
E-Mini S&P 500 ESG Futures | | | USD | | | | 8 | | | | 1,989,548 | | | | 2,010,400 | | | | 9/20/2024 | | | | 20,852 | |
| | | | | | |
S&P 500 E-Mini Futures | | | USD | | | | 11 | | | | 3,147,251 | | | | 3,147,375 | | | | 12/20/2024 | | | | 124 | |
| | | | | | |
S&P Mid 400 E-Mini Futures | | | USD | | | | 1 | | | | 295,580 | | | | 309,810 | | | | 9/20/2024 | | | | 14,230 | |
| | | | | | | |
Total unrealized appreciation | | | | | | | | | | | | | | | | | | | | | | | 35,206 | |
For information on the Fund’s policy and additional disclosures regarding futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
Currency Abbreviations
USD U.S. Dollar
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of August 31, 2024 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
| | | | | | | | | | | | | | | | |
| Assets | | Level 1 | | Level 2 | | Level 3 | | Total |
| | | | |
Common Stocks (a) | | $ | 1,038,584,828 | | | $ | — | | | $ | — | | | $ | 1,038,584,828 | |
| | | | |
Short-Term Investments (a) | | | 1,749,004 | | | | — | | | | — | | | | 1,749,004 | |
| | | | |
Derivatives (b) | | | | | | | | | | | | | | | | |
Futures Contracts | | | 35,206 | | | | — | | | | — | | | | 35,206 | |
| | | | | |
TOTAL | | $ | 1,040,369,038 | | | $ | — | | | $ | — | | | $ | 1,040,369,038 | |
| (a) | See Schedule of Investments for additional detailed categorizations. |
| (b) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
See Notes to Financial Statements.
50 | DBX ETF Trust
Schedule of Investments
Xtrackers Net Zero Pathway Paris Aligned US Equity ETF
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
COMMON STOCKS — 99.4% | | | | | | | | |
| | |
Communication Services — 9.7% | | | | | | | | |
| | |
Alphabet, Inc., Class A | | | 27,475 | | | | 4,488,866 | |
| | |
Alphabet, Inc., Class C | | | 24,459 | | | | 4,038,425 | |
| | |
AT&T, Inc. | | | 33,217 | | | | 661,018 | |
| | |
Charter Communications, Inc., Class A * | | | 457 | | | | 158,826 | |
| | |
Comcast Corp., Class A | | | 18,593 | | | | 735,725 | |
| | |
Electronic Arts, Inc. | | | 1,120 | | | | 170,038 | |
| | |
Fox Corp., Class A | | | 1,040 | | | | 43,025 | |
| | |
Fox Corp., Class B | | | 491 | | | | 18,869 | |
| | |
Live Nation Entertainment, Inc. * | | | 762 | | | | 74,425 | |
| | |
Meta Platforms, Inc., Class A | | | 12,626 | | | | 6,582,060 | |
| | |
Netflix, Inc. * | | | 1,982 | | | | 1,390,076 | |
| | |
Omnicom Group, Inc. | | | 929 | | | | 93,299 | |
| | |
Pinterest, Inc., Class A * | | | 2,799 | | | | 89,680 | |
| | |
ROBLOX Corp., Class A * | | | 2,355 | | | | 103,596 | |
| | |
Sirius XM Holdings, Inc. (a) | | | 4,481 | | | | 14,742 | |
| | |
Snap, Inc., Class A * | | | 4,993 | | | | 46,635 | |
| | |
Spotify Technology SA * | | | 685 | | | | 234,873 | |
| | |
Take-Two Interactive Software, Inc. * | | | 779 | | | | 125,972 | |
| | |
T-Mobile US, Inc. | | | 2,263 | | | | 449,703 | |
| | |
Trade Desk, Inc., Class A * | | | 2,084 | | | | 217,841 | |
| | |
Verizon Communications, Inc. | | | 19,587 | | | | 818,345 | |
| | |
Walt Disney Co. | | | 8,700 | | | | 786,306 | |
| | |
Warner Bros Discovery, Inc. * | | | 10,608 | | | | 83,167 | |
| | |
Warner Music Group Corp., Class A | | | 995 | | | | 28,467 | |
| | |
(Cost $14,837,585) | | | | | | | 21,453,979 | |
| | |
Consumer Discretionary — 5.9% | | | | | | | | |
| | |
Airbnb, Inc., Class A * | | | 2,146 | | | | 251,747 | |
| | |
Aptiv PLC * | | | 4,090 | | | | 292,558 | |
| | |
AutoZone, Inc. * | | | 166 | | | | 528,126 | |
| | |
Best Buy Co., Inc. | | | 2,127 | | | | 213,551 | |
| | |
Booking Holdings, Inc. | | | 162 | | | | 633,295 | |
| | |
Chipotle Mexican Grill, Inc. * | | | 6,639 | | | | 372,315 | |
| | |
D.R. Horton, Inc. | | | 2,714 | | | | 512,295 | |
| | |
Domino’s Pizza, Inc. | | | 159 | | | | 65,859 | |
| | |
DoorDash, Inc., Class A * | | | 3,797 | | | | 488,712 | |
| | |
eBay, Inc. | | | 6,868 | | | | 405,899 | |
| | |
Expedia Group, Inc. * | | | 710 | | | | 98,754 | |
| | |
Ford Motor Co. | | | 18,258 | | | | 204,307 | |
| | |
Garmin Ltd. | | | 2,036 | | | | 373,178 | |
| | |
General Motors Co. | | | 6,221 | | | | 309,681 | |
| | |
Genuine Parts Co. | | | 2,267 | | | | 324,770 | |
| | |
Home Depot, Inc. | | | 5,021 | | | | 1,850,238 | |
| | |
Lennar Corp., Class A | | | 2,515 | | | | 457,881 | |
| | |
Lennar Corp., Class B | | | 695 | | | | 117,337 | |
| | |
Lowe’s Cos., Inc. | | | 3,203 | | | | 795,946 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Lululemon Athletica, Inc. * | | | 1,364 | | | | 353,917 | |
| | |
McDonald’s Corp. | | | 3,387 | | | | 977,691 | |
| | |
MercadoLibre, Inc. * | | | 360 | | | | 742,198 | |
| | |
NIKE, Inc., Class B | | | 8,915 | | | | 742,798 | |
| | |
NVR, Inc. * | | | 41 | | | | 376,071 | |
| | |
O’Reilly Automotive, Inc. * | | | 505 | | | | 570,635 | |
| | |
PulteGroup, Inc. | | | 2,786 | | | | 366,777 | |
| | |
Tractor Supply Co. | | | 969 | | | | 259,256 | |
| | |
Ulta Beauty, Inc. * | | | 823 | | | | 290,387 | |
| | |
Yum! Brands, Inc. | | | 814 | | | | 109,825 | |
| | |
(Cost $10,563,369) | | | | | | | 13,086,004 | |
| | |
Consumer Staples — 5.2% | | | | | | | | |
| | |
Archer-Daniels-Midland Co. | | | 12 | | | | 732 | |
| | |
Campbell Soup Co. | | | 5,243 | | | | 260,682 | |
| | |
Church & Dwight Co., Inc. | | | 3,378 | | | | 344,151 | |
| | |
Clorox Co. | | | 2,278 | | | | 360,630 | |
| | |
Coca-Cola Co. | | | 21,693 | | | | 1,572,092 | |
| | |
Colgate-Palmolive Co. | | | 5,639 | | | | 600,553 | |
| | |
Conagra Brands, Inc. | | | 7,816 | | | | 243,859 | |
| | |
Estee Lauder Cos., Inc., Class A | | | 3,381 | | | | 309,902 | |
| | |
General Mills, Inc. | | | 5,690 | | | | 411,330 | |
| | |
Hershey Co. | | | 1,933 | | | | 373,185 | |
| | |
Hormel Foods Corp. | | | 6,271 | | | | 204,121 | |
| | |
Kellanova | | | 4,854 | | | | 391,281 | |
| | |
Keurig Dr Pepper, Inc. | | | 11,944 | | | | 437,270 | |
| | |
Kimberly-Clark Corp. | | | 3,032 | | | | 438,609 | |
| | |
Kraft Heinz Co. | | | 9,501 | | | | 336,620 | |
| | |
McCormick & Co., Inc. | | | 4,450 | | | | 356,134 | |
| | |
Mondelez International, Inc., Class A | | | 9,492 | | | | 681,621 | |
| | |
PepsiCo, Inc. | | | 7,786 | | | | 1,346,044 | |
| | |
Procter & Gamble Co. | | | 12,155 | | | | 2,085,069 | |
| | |
Sysco Corp. | | | 5,374 | | | | 419,011 | |
| | |
Target Corp. | | | 3,131 | | | | 480,984 | |
| | |
Tyson Foods, Inc., Class A | | | 33 | | | | 2,122 | |
| | |
(Cost $11,051,012) | | | | | | | 11,656,002 | |
| | |
Financials — 11.5% | | | | | | | | |
| | |
Aflac, Inc. | | | 2,402 | | | | 265,085 | |
| | |
Allstate Corp. | | | 794 | | | | 150,018 | |
| | |
American Express Co. | | | 2,787 | | | | 720,857 | |
| | |
American International Group, Inc. | | | 2,731 | | | | 210,424 | |
| | |
Ameriprise Financial, Inc. | | | 421 | | | | 189,214 | |
| | |
Aon PLC, Class A | | | 953 | | | | 327,565 | |
| | |
Apollo Global Management, Inc. | | | 2,045 | | | | 236,668 | |
| | |
Arch Capital Group Ltd. * | | | 1,698 | | | | 192,027 | |
| | |
Ares Management Corp., Class A | | | 1,022 | | | | 149,621 | |
| | |
Arthur J Gallagher & Co. | | | 1,065 | | | | 311,587 | |
| | |
Bank of America Corp. | | | 31,707 | | | | 1,292,060 | |
| | |
Bank of New York Mellon Corp. | | | 3,911 | | | | 266,808 | |
See Notes to Financial Statements.
DBX ETF Trust | 51
Schedule of Investments
Xtrackers Net Zero Pathway Paris Aligned US Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
BlackRock, Inc. | | | 717 | | | | 646,598 | |
| | |
Block, Inc. * | | | 2,614 | | | | 172,733 | |
| | |
Capital One Financial Corp. | | | 1,385 | | | | 203,498 | |
| | |
Cboe Global Markets, Inc. | | | 595 | | | | 122,213 | |
| | |
Charles Schwab Corp. | | | 7,182 | | | | 467,548 | |
| | |
Chubb Ltd. | | | 1,885 | | | | 535,679 | |
| | |
Cincinnati Financial Corp. | | | 689 | | | | 94,414 | |
| | |
Citigroup, Inc. | | | 8,878 | | | | 556,118 | |
| | |
Citizens Financial Group, Inc. | | | 1,237 | | | | 53,253 | |
| | |
CME Group, Inc. | | | 1,795 | | | | 387,253 | |
| | |
Coinbase Global, Inc., Class A * | | | 983 | | | | 180,243 | |
| | |
Corpay, Inc. * | | | 401 | | | | 126,536 | |
| | |
Discover Financial Services | | | 1,267 | | | | 175,746 | |
| | |
Everest Group Ltd. | | | 116 | | | | 45,500 | |
| | |
Fidelity National Financial, Inc. | | | 794 | | | | 46,814 | |
| | |
Fidelity National Information Services, Inc. | | | 2,648 | | | | 218,328 | |
| | |
Fifth Third Bancorp | | | 3,210 | | | | 137,035 | |
| | |
Fiserv, Inc. * | | | 2,884 | | | | 503,546 | |
| | |
Global Payments, Inc. | | | 1,446 | | | | 160,520 | |
| | |
Goldman Sachs Group, Inc. | | | 1,547 | | | | 789,357 | |
| | |
Hartford Financial Services Group, Inc. | | | 1,062 | | | | 123,298 | |
| | |
Huntington Bancshares, Inc. | | | 8,024 | | | | 120,119 | |
| | |
Interactive Brokers Group, Inc., Class A | | | 645 | | | | 83,134 | |
| | |
Intercontinental Exchange, Inc. | | | 2,802 | | | | 452,663 | |
| | |
JPMorgan Chase & Co. | | | 13,482 | | | | 3,030,754 | |
| | |
KeyCorp | | | 3,027 | | | | 51,641 | |
| | |
KKR & Co., Inc. | | | 3,376 | | | | 417,847 | |
| | |
M&T Bank Corp. | | | 632 | | | | 108,773 | |
| | |
Markel Group, Inc. * | | | 56 | | | | 89,638 | |
| | |
Marsh & McLennan Cos., Inc. | | | 2,369 | | | | 538,971 | |
| | |
Mastercard, Inc., Class A | | | 3,916 | | | | 1,892,759 | |
| | |
MetLife, Inc. | | | 2,096 | | | | 162,398 | |
| | |
Moody’s Corp. | | | 797 | | | | 388,729 | |
| | |
Morgan Stanley | | | 6,119 | | | | 633,990 | |
| | |
MSCI, Inc. | | | 370 | | | | 214,818 | |
| | |
Nasdaq, Inc. | | | 2,130 | | | | 153,530 | |
| | |
Northern Trust Corp. | | | 1,177 | | | | 107,354 | |
| | |
PayPal Holdings, Inc. * | | | 5,158 | | | | 373,594 | |
| | |
PNC Financial Services Group, Inc. | | | 1,819 | | | | 336,679 | |
| | |
Principal Financial Group, Inc. | | | 715 | | | | 58,215 | |
| | |
Progressive Corp. | | | 2,673 | | | | 674,131 | |
| | |
Prudential Financial, Inc. | | | 1,242 | | | | 150,481 | |
| | |
Raymond James Financial, Inc. | | | 995 | | | | 118,972 | |
| | |
Regions Financial Corp. | | | 2,049 | | | | 47,988 | |
| | |
Rocket Cos., Inc., Class A * | | | 2,236 | | | | 43,937 | |
| | |
S&P Global, Inc. | | | 1,513 | | | | 776,532 | |
| | |
State Street Corp. | | | 1,643 | | | | 143,105 | |
| | |
Synchrony Financial | | | 2,206 | | | | 110,874 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
T. Rowe Price Group, Inc. | | | 1,183 | | | | 125,445 | |
| | |
Travelers Cos., Inc. | | | 943 | | | | 215,070 | |
| | |
Truist Financial Corp. | | | 5,773 | | | | 256,668 | |
| | |
US Bancorp | | | 6,577 | | | | 310,632 | |
| | |
Visa, Inc., Class A | | | 7,487 | | | | 2,069,182 | |
| | |
W.R. Berkley Corp. | | | 1,258 | | | | 75,103 | |
| | |
Wells Fargo & Co. | | | 16,097 | | | | 941,192 | |
| | |
Willis Towers Watson PLC | | | 497 | | | | 145,179 | |
| | |
(Cost $18,406,802) | | | | | | | 25,478,261 | |
| | |
Health Care — 17.3% | | | | | | | | |
| | |
Abbott Laboratories | | | 10,441 | | | | 1,182,652 | |
| | |
AbbVie, Inc. | | | 9,707 | | | | 1,905,581 | |
| | |
Agilent Technologies, Inc. | | | 1,536 | | | | 219,525 | |
| | |
Align Technology, Inc. * | | | 1,267 | | | | 300,558 | |
| | |
Alnylam Pharmaceuticals, Inc. * | | | 1,536 | | | | 403,492 | |
| | |
Amgen, Inc. | | | 3,253 | | | | 1,085,949 | |
| | |
Avantor, Inc. * | | | 13,335 | | | | 344,576 | |
| | |
Baxter International, Inc. | | | 8,794 | | | | 333,644 | |
| | |
Becton Dickinson and Co. | | | 2,411 | | | | 584,450 | |
| | |
Biogen, Inc. * | | | 1,727 | | | | 353,621 | |
| | |
BioMarin Pharmaceutical, Inc. * | | | 3,812 | | | | 347,692 | |
| | |
Boston Scientific Corp. * | | | 10,053 | | | | 822,235 | |
| | |
Bristol-Myers Squibb Co. | | | 15,485 | | | | 773,476 | |
| | |
Cardinal Health, Inc. | | | 1,922 | | | | 216,648 | |
| | |
Cencora, Inc. | | | 1,593 | | | | 381,635 | |
| | |
Centene Corp. * | | | 2,779 | | | | 219,069 | |
| | |
Cigna Group | | | 1,235 | | | | 446,835 | |
| | |
Cooper Cos., Inc. * | | | 3,651 | | | | 386,020 | |
| | |
CVS Health Corp. | | | 9,974 | | | | 570,912 | |
| | |
Danaher Corp. | | | 4,075 | | | | 1,097,438 | |
| | |
Dexcom, Inc. * | | | 4,052 | | | | 280,966 | |
| | |
Edwards Lifesciences Corp. * | | | 5,395 | | | | 377,434 | |
| | |
Elevance Health, Inc. | | | 1,083 | | | | 603,112 | |
| | |
Eli Lilly & Co. | | | 4,235 | | | | 4,065,685 | |
| | |
GE HealthCare Technologies, Inc. | | | 4,985 | | | | 422,828 | |
| | |
Gilead Sciences, Inc. | | | 9,412 | | | | 743,548 | |
| | |
HCA Healthcare, Inc. | | | 912 | | | | 360,778 | |
| | |
Hologic, Inc. * | | | 4,152 | | | | 337,308 | |
| | |
Humana, Inc. | | | 610 | | | | 216,227 | |
| | |
IDEXX Laboratories, Inc. * | | | 887 | | | | 426,940 | |
| | |
Illumina, Inc. * | | | 2,907 | | | | 381,980 | |
| | |
Incyte Corp. * | | | 4,758 | | | | 312,410 | |
| | |
Intuitive Surgical, Inc. * | | | 2,201 | | | | 1,084,279 | |
| | |
IQVIA Holdings, Inc. * | | | 838 | | | | 210,799 | |
| | |
Johnson & Johnson | | | 12,866 | | | | 2,133,955 | |
| | |
Labcorp Holdings, Inc. | | | 482 | | | | 110,807 | |
| | |
McKesson Corp. | | | 921 | | | | 516,755 | |
| | |
Medtronic PLC | | | 9,015 | | | | 798,549 | |
| | |
Merck & Co., Inc. | | | 13,788 | | | | 1,633,189 | |
See Notes to Financial Statements.
52 | DBX ETF Trust
Schedule of Investments
Xtrackers Net Zero Pathway Paris Aligned US Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Mettler-Toledo International, Inc. * | | | 276 | | | | 397,186 | |
| | |
Moderna, Inc. * | | | 3,582 | | | | 277,247 | |
| | |
Pfizer, Inc. | | | 35,039 | | | | 1,016,481 | |
| | |
Quest Diagnostics, Inc. | | | 517 | | | | 81,153 | |
| | |
Regeneron Pharmaceuticals, Inc. * | | | 718 | | | | 850,607 | |
| | |
ResMed, Inc. | | | 1,969 | | | | 482,444 | |
| | |
Royalty Pharma PLC, Class A | | | 11,302 | | | | 328,097 | |
| | |
STERIS PLC | | | 1,557 | | | | 375,393 | |
| | |
Stryker Corp. | | | 2,179 | | | | 785,355 | |
| | |
Thermo Fisher Scientific, Inc. | | | 2,263 | | | | 1,391,903 | |
| | |
UnitedHealth Group, Inc. | | | 4,308 | | | | 2,542,582 | |
| | |
Veeva Systems, Inc., Class A * | | | 700 | | | | 151,508 | |
| | |
Vertex Pharmaceuticals, Inc. * | | | 1,703 | | | | 844,501 | |
| | |
Waters Corp. * | | | 1,089 | | | | 377,175 | |
| | |
West Pharmaceutical Services, Inc. | | | 1,088 | | | | 341,229 | |
| | |
Zimmer Biomet Holdings, Inc. | | | 3,238 | | | | 373,859 | |
| | |
Zoetis, Inc. | | | 3,563 | | | | 653,775 | |
| | |
(Cost $32,848,469) | | | | | | | 38,264,052 | |
| | |
Industrials — 4.9% | | | | | | | | |
| | |
Automatic Data Processing, Inc. | | | 1,941 | | | | 535,541 | |
| | |
Broadridge Financial Solutions, Inc. | | | 534 | | | | 113,667 | |
| | |
Carrier Global Corp. | | | 3,766 | | | | 274,090 | |
| | |
Cintas Corp. | | | 441 | | | | 355,058 | |
| | |
Copart, Inc. * | | | 8,506 | | | | 450,478 | |
| | |
Deere & Co. | | | 1,662 | | | | 641,100 | |
| | |
Delta Air Lines, Inc. | | | 5,924 | | | | 251,711 | |
| | |
Dover Corp. | | | 1,519 | | | | 282,580 | |
| | |
Equifax, Inc. | | | 653 | | | | 200,556 | |
| | |
Expeditors International of Washington, Inc. | | | 2,260 | | | | 278,907 | |
| | |
Fastenal Co. | | | 6,531 | | | | 445,937 | |
| | |
FedEx Corp. | | | 1,720 | | | | 513,884 | |
| | |
Ferguson Enterprises, Inc. | | | 2,071 | | | | 426,025 | |
| | |
JB Hunt Transport Services, Inc. | | | 1,748 | | | | 302,754 | |
| | |
Johnson Controls International PLC | | | 3,317 | | | | 241,643 | |
| | |
Masco Corp. | | | 3,448 | | | | 274,323 | |
| | |
Old Dominion Freight Line, Inc. | | | 2,214 | | | | 426,859 | |
| | |
Otis Worldwide Corp. | | | 4,107 | | | | 388,892 | |
| | |
PACCAR, Inc. | | | 2,529 | | | | 243,239 | |
| | |
Paychex, Inc. | | | 1,532 | | | | 200,998 | |
| | |
Rollins, Inc. | | | 1,840 | | | | 92,331 | |
| | |
Snap-on, Inc. | | | 1,037 | | | | 294,238 | |
| | |
Southwest Airlines Co. | | | 7,439 | | | | 215,136 | |
| | |
SS&C Technologies Holdings, Inc. | | | 979 | | | | 73,513 | |
| | |
Trane Technologies PLC | | | 5 | | | | 1,808 | |
| | |
TransUnion | | | 1,135 | | | | 109,879 | |
| | |
Uber Technologies, Inc. * | | | 12,677 | | | | 927,069 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
United Airlines Holdings, Inc. * | | | 3,887 | | | | 171,183 | |
| | |
United Parcel Service, Inc., Class B | | | 5,007 | | | | 643,650 | |
| | |
Verisk Analytics, Inc. | | | 686 | | | | 187,155 | |
| | |
W.W. Grainger, Inc. | | | 377 | | | | 371,315 | |
| | |
Waste Management, Inc. | | | 2,907 | | | | 616,400 | |
| | |
Westinghouse Air Brake Technologies Corp. | | | 1,433 | | | | 242,994 | |
| | |
(Cost $8,987,943) | | | | | | | 10,794,913 | |
| | |
Information Technology — 37.0% | | | | | | | | |
| | |
Accenture PLC, Class A | | | 3,151 | | | | 1,077,484 | |
| | |
Adobe, Inc. * | | | 2,075 | | | | 1,191,901 | |
| | |
Advanced Micro Devices, Inc. * | | | 8,669 | | | | 1,287,867 | |
| | |
Akamai Technologies, Inc. * | | | 721 | | | | 73,427 | |
| | |
Amdocs Ltd. | | | 585 | | | | 50,877 | |
| | |
Analog Devices, Inc. | | | 3,292 | | | | 773,093 | |
| | |
Apple, Inc. | | | 86,263 | | | | 19,754,227 | |
| | |
Applied Materials, Inc. | | | 4,719 | | | | 930,870 | |
| | |
Arista Networks, Inc. * | | | 1,719 | | | | 607,460 | |
| | |
ARM Holdings PLC, ADR * (a) | | | 1,551 | | | | 206,097 | |
| | |
Atlassian Corp., Class A * | | | 761 | | | | 126,022 | |
| | |
Autodesk, Inc. * | | | 1,023 | | | | 264,343 | |
| | |
Broadcom, Inc. | | | 22,503 | | | | 3,663,938 | |
| | |
Cadence Design Systems, Inc. * | | | 1,284 | | | | 345,306 | |
| | |
CDW Corp. | | | 634 | | | | 143,056 | |
| | |
Cisco Systems, Inc. | | | 23,384 | | | | 1,181,827 | |
| | |
Cloudflare, Inc., Class A * | | | 1,422 | | | | 116,803 | |
| | |
Cognizant Technology Solutions Corp., Class A | | | 2,345 | | | | 182,371 | |
| | |
Corning, Inc. | | | 7,920 | | | | 331,452 | |
| | |
Crowdstrike Holdings, Inc., Class A * | | | 1,072 | | | | 297,244 | |
| | |
Datadog, Inc., Class A * | | | 1,244 | | | | 144,627 | |
| | |
Enphase Energy, Inc. * | | | 2,781 | | | | 336,612 | |
| | |
Fair Isaac Corp. * | | | 117 | | | | 202,442 | |
| | |
Fortinet, Inc. * | | | 2,894 | | | | 221,999 | |
| | |
Gartner, Inc. * | | | 356 | | | | 175,138 | |
| | |
Gen Digital, Inc. | | | 2,810 | | | | 74,353 | |
| | |
GLOBALFOUNDRIES, Inc. * | | | 3,425 | | | | 159,879 | |
| | |
HP, Inc. | | | 8,046 | | | | 291,104 | |
| | |
HubSpot, Inc. * | | | 233 | | | | 116,283 | |
| | |
Intel Corp. | | | 26,230 | | | | 578,109 | |
| | |
Intuit, Inc. | | | 1,281 | | | | 807,363 | |
| | |
Keysight Technologies, Inc. * | | | 2,363 | | | | 364,186 | |
| | |
KLA Corp. | | | 873 | | | | 715,362 | |
| | |
Lam Research Corp. | | | 820 | | | | 673,228 | |
| | |
Marvell Technology, Inc. | | | 6,329 | | | | 482,523 | |
| | |
Microchip Technology, Inc. | | | 4,636 | | | | 380,894 | |
| | |
Micron Technology, Inc. | | | 6,700 | | | | 644,808 | |
| | |
Microsoft Corp. | | | 43,701 | | | | 18,229,435 | |
| | |
MongoDB, Inc. * | | | 340 | | | | 98,869 | |
See Notes to Financial Statements.
DBX ETF Trust | 53
Schedule of Investments
Xtrackers Net Zero Pathway Paris Aligned US Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Monolithic Power Systems, Inc. | | | 477 | | | | 445,842 | |
| | |
Motorola Solutions, Inc. | | | 1,357 | | | | 599,848 | |
| | |
NetApp, Inc. | | | 2,590 | | | | 312,665 | |
| | |
NVIDIA Corp. | | | 119,835 | | | | 14,304,704 | |
| | |
Okta, Inc. * | | | 780 | | | | 61,409 | |
| | |
ON Semiconductor Corp. * | | | 4,640 | | | | 361,317 | |
| | |
Oracle Corp. | | | 7,295 | | | | 1,030,711 | |
| | |
Palo Alto Networks, Inc. * | | | 1,503 | | | | 545,168 | |
| | |
QUALCOMM, Inc. | | | 6,257 | | | | 1,096,852 | |
| | |
Salesforce, Inc. | | | 4,411 | | | | 1,115,542 | |
| | |
Seagate Technology Holdings PLC | | | 2,603 | | | | 259,129 | |
| | |
ServiceNow, Inc. * | | | 954 | | | | 815,670 | |
| | |
Skyworks Solutions, Inc. | | | 2,516 | | | | 275,728 | |
| | |
Snowflake, Inc., Class A * | | | 1,440 | | | | 164,491 | |
| | |
Super Micro Computer, Inc. * | | | 474 | | | | 207,470 | |
| | |
Synopsys, Inc. * | | | 718 | | | | 373,058 | |
| | |
TE Connectivity Ltd. | | | 2,838 | | | | 435,917 | |
| | |
Teradyne, Inc. | | | 1,962 | | | | 268,264 | |
| | |
Texas Instruments, Inc. | | | 5,286 | | | | 1,133,001 | |
| | |
VeriSign, Inc. * | | | 422 | | | | 77,606 | |
| | |
Western Digital Corp. * | | | 2,972 | | | | 194,934 | |
| | |
Workday, Inc., Class A * | | | 982 | | | | 258,453 | |
| | |
Zebra Technologies Corp., Class A * | | | 902 | | | | 311,533 | |
| | |
Zoom Video Communications, Inc., Class A* | | | 1,184 | | | | 81,791 | |
| | |
Zscaler, Inc. * | | | 451 | | | | 90,191 | |
| | |
(Cost $54,811,782) | | | | | | | 82,124,173 | |
| | |
Materials — 1.9% | | | | | | | | |
| | |
Ball Corp. | | | 4,521 | | | | 288,485 | |
| | |
Corteva, Inc. | | | 7,652 | | | | 438,460 | |
| | |
CRH PLC | | | 5,147 | | | | 467,193 | |
| | |
Ecolab, Inc. | | | 2,145 | | | | 543,071 | |
| | |
International Flavors & Fragrances, Inc. | | | 3,200 | | | | 332,768 | |
| | |
International Paper Co. | | | 2,322 | | | | 112,431 | |
| | |
Martin Marietta Materials, Inc. | | | 636 | | | | 339,726 | |
| | |
Nucor Corp. | | | 1,322 | | | | 200,825 | |
| | |
Packaging Corp. of America | | | 1,558 | | | | 326,463 | |
| | |
PPG Industries, Inc. | | | 2,612 | | | | 338,855 | |
| | |
Sherwin-Williams Co. | | | 1,819 | | | | 671,884 | |
| | |
Southern Copper Corp. | | | 2,369 | | | | 240,975 | |
| | |
(Cost $3,459,104) | | | | | | | 4,301,136 | |
| | |
Real Estate — 4.8% | | | | | | | | |
| | |
Alexandria Real Estate Equities, Inc. REIT | | | 2,822 | | | | 337,427 | |
| | |
American Tower Corp. REIT | | | 3,412 | | | | 764,493 | |
| | |
AvalonBay Communities, Inc. REIT | | | 1,844 | | | | 416,246 | |
| | |
CBRE Group, Inc., Class A * | | | 1,104 | | | | 127,115 | |
| | |
CoStar Group, Inc. * | | | 1,938 | | | | 149,807 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Crown Castle, Inc. REIT | | | 4,542 | | | | 508,795 | |
| | |
Digital Realty Trust, Inc. REIT | | | 3,074 | | | | 466,049 | |
| | |
Equinix, Inc. REIT | | | 747 | | | | 623,267 | |
| | |
Equity Residential REIT | | | 5,132 | | | | 384,284 | |
| | |
Essex Property Trust, Inc. REIT | | | 1,164 | | | | 351,284 | |
| | |
Extra Space Storage, Inc. REIT | | | 2,595 | | | | 459,315 | |
| | |
Healthpeak Properties, Inc. REIT | | | 15,420 | | | | 343,558 | |
| | |
Invitation Homes, Inc. REIT | | | 9,519 | | | | 350,680 | |
| | |
Iron Mountain, Inc. REIT | | | 3,928 | | | | 444,885 | |
| | |
Mid-America Apartment Communities, Inc. REIT | | | 2,228 | | | | 361,760 | |
| | |
Prologis, Inc. REIT | | | 6,402 | | | | 818,304 | |
| | |
Public Storage REIT | | | 1,601 | | | | 550,296 | |
| | |
Realty Income Corp. REIT | | | 8,632 | | | | 536,133 | |
| | |
SBA Communications Corp. REIT | | | 1,769 | | | | 400,962 | |
| | |
Simon Property Group, Inc. REIT | | | 3,110 | | | | 520,458 | |
| | |
Ventas, Inc. REIT | | | 6,616 | | | | 410,920 | |
| | |
VICI Properties, Inc. REIT | | | 13,728 | | | | 459,613 | |
| | |
Welltower, Inc. REIT | | | 5,221 | | | | 630,070 | |
| | |
Weyerhaeuser Co. REIT | | | 11,443 | | | | 348,897 | |
| | |
(Cost $9,621,546) | | | | | | | 10,764,618 | |
| | |
Utilities — 1.2% | | | | | | | | |
| | |
American Water Works Co., Inc. | | | 8,523 | | | | 1,219,812 | |
| | |
Edison International | | | 15,496 | | | | 1,348,617 | |
| | |
(Cost $2,253,145) | | | | | | | 2,568,429 | |
| | |
TOTAL COMMON STOCKS | | | | | | | | |
(Cost $166,840,757) | | | | | | | 220,491,567 | |
| | |
EXCHANGE-TRADED FUNDS — 0.4% | | | | | | | | |
| | |
iShares Paris-Aligned Climate MSCI USA ETF (a) | | | 4,800 | | | | 297,984 | |
| | |
Vanguard Mid-Cap ETF | | | 280 | | | | 72,296 | |
| | |
Xtrackers MSCI USA Climate Action Equity ETF (b) | | | 8,700 | | | | 307,443 | |
(Cost $572,371) | | | | | | | 677,723 | |
| | |
SECURITIES LENDING COLLATERAL — 0.2% | | | | | | | | |
| | |
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (c)(d) | | | | | | | | |
(Cost $512,450) | | | 512,450 | | | | 512,450 | |
| | |
CASH EQUIVALENTS — 0.1% | | | | | | | | |
| | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (c) | | | | | | | | |
(Cost $307,334) | | | 307,334 | | | | 307,334 | |
See Notes to Financial Statements.
54 | DBX ETF Trust
Schedule of Investments
Xtrackers Net Zero Pathway Paris Aligned US Equity ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
TOTAL INVESTMENTS — 100.1% | | | | | | | | |
| | |
(Cost $168,232,912) | | | | | | | 221,989,074 | |
| | |
Other assets and liabilities, net — (0.1%) | | | | | | | (311,714 | ) |
| | |
NET ASSETS — 100.0% | | | | | | | 221,677,360 | |
A summary of the Fund’s transactions with affiliated investments during the year ended August 31, 2024 is as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Value ($) at 8/31/2023 | | Purchases Cost ($) | | Sales Proceeds ($) | | Net Realized Gain/(Loss) ($) | | Net Change in Unrealized Appreciation (Depreciation) ($) | | Income ($) | | Capital Gain Distributions ($) | | Number of Shares at 8/31/2024 | | Value ($) at 8/31/2024 |
| | | | | | |
EXCHANGE-TRADED FUNDS — 0.2% | | | | | | | | | | | | | | | | | | | | | | | | | |
| |
Xtrackers MSCI USA Climate Action Equity ETF (b) | | | | | |
| | | | | | | | |
— | | | 276,414 | | | | — | | | | — | | | | 31,029 | | | | 799 | | | | — | | | | 8,700 | | | | 307,443 | |
| | | | | | |
SECURITIES LENDING COLLATERAL — 0.2% | | | | | | | | | | | | | | | | | | | | | | | | | |
| |
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (c)(d) | | | | | |
| | | | | | | | |
67,850 | | | 444,600 | (e) | | | — | | | | — | | | | — | | | | 8,994 | | | | — | | | | 512,450 | | | | 512,450 | |
| | | | | | |
CASH EQUIVALENTS — 0.1% | | | | | | | | | | | | | | | | | | | | | | | | | |
| |
DWS Government Money Market Series “Institutional Shares”, 5.24% (c) | | | | | |
| | | | | | | | |
334,935 | | | 3,665,838 | | | | (3,693,439 | ) | | | — | | | | — | | | | 17,724 | | | | — | | | | 307,334 | | | | 307,334 | |
| | | | | | | | | |
402,785 | | | 4,386,852 | | | | (3,693,439 | ) | | | — | | | | 31,029 | | | | 27,517 | | | | — | | | | 828,484 | | | | 1,127,227 | |
| * | Non-income producing security. |
| (a) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at August 31, 2024 amounted to $505,572, which is 0.2% of net assets. |
| (b) | Affiliated fund advised by DBX Advisors LLC. |
| (c) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
| (d) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. |
| (e) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the year ended August 31, 2024. |
| ADR: | American Depositary Receipt |
| REIT: | Real Estate Investment Trust |
At August 31, 2024, open futures contracts purchased were as follows:
| | | | | | | | | | | | | | | | | | | | |
| Contract Description | | Currency | | Number of
Contracts | | Notional
Amount ($) | | Contract Value
($) | | Expiration
Date | | Unrealized
Appreciation ($) |
| | | | | | |
Micro E-Mini S&P 500 Futures | | USD | | 14 | | | 390,158 | | | | 396,270 | | | | 9/20/2024 | | | | 6,112 | |
For information on the Fund’s policy and additional disclosures regarding futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
Currency Abbreviations
USD U.S. Dollar
See Notes to Financial Statements.
DBX ETF Trust | 55
Schedule of Investments
Xtrackers Net Zero Pathway Paris Aligned US Equity ETF (Continued)
August 31, 2024
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of August 31, 2024 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
| | | | | | | | | | | | | | | | |
| Assets | | Level 1 | | Level 2 | | Level 3 | | Total |
| | | | |
Common Stocks (a) | | $ | 220,491,567 | | | $ | — | | | $ | — | | | $ | 220,491,567 | |
| | | | |
Exchange-Traded Funds | | | 677,723 | | | | — | | | | — | | | | 677,723 | |
| | | | |
Short-Term Investments (a) | | | 819,784 | | | | — | | | | — | | | | 819,784 | |
| | | | |
Derivatives (b) | | | | | | | | | | | | | | | | |
Futures Contracts | | | 6,112 | | | | — | | | | — | | | | 6,112 | |
| | | | | |
TOTAL | | $ | 221,995,186 | | | $ | — | | | $ | — | | | $ | 221,995,186 | |
| (a) | See Schedule of Investments for additional detailed categorizations. |
| (b) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
See Notes to Financial Statements.
56 | DBX ETF Trust
Schedule of Investments
Xtrackers RREEF Global Natural Resources ETF
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
COMMON STOCKS — 99.9% | | | | | | | | |
| | |
Australia — 0.8% | | | | | | | | |
| | |
Northern Star Resources Ltd. | | | 24,249 | | | | 251,072 | |
| | |
South32 Ltd. | | | 4,244 | | | | 9,042 | |
| | |
(Cost $248,913) | | | | | | | 260,114 | |
| | |
Brazil — 4.6% | | | | | | | | |
| | |
Petroleo Brasileiro SA, ADR | | | 8,091 | | | | 123,226 | |
| | |
Suzano SA, ADR | | | 46,162 | | | | 449,618 | |
| | |
Vale SA, ADR | | | 80,584 | | | | 847,744 | |
| | |
(Cost $1,513,976) | | | | | | | 1,420,588 | |
| | |
Canada — 17.2% | | | | | | | | |
| | |
Agnico Eagle Mines Limited/Mines Agnico Eagle Limitee | | | 3,603 | | | | 293,533 | |
| | |
ARC Resources Ltd. | | | 31,371 | | | | 580,518 | |
| | |
Barrick Gold Corp. | | | 45,206 | | | | 912,673 | |
| | |
Cenovus Energy, Inc. | | | 56,998 | | | | 1,056,858 | |
| | |
Franco-Nevada Corp. | | | 3,306 | | | | 403,662 | |
| | |
Imperial Oil Ltd. | | | 2,629 | | | | 197,992 | |
| | |
Ivanhoe Mines Ltd.*, Class A | | | 32,657 | | | | 435,427 | |
| | |
Ivanhoe Mines Ltd.*, Class A | | | 167 | | | | 2,226 | |
| | |
Nutrien Ltd. | | | 24,332 | | | | 1,178,371 | |
| | |
Teck Resources Ltd., Class B | | | 5,583 | | | | 267,313 | |
| | |
Wheaton Precious Metals Corp. | | | 134 | | | | 8,281 | |
| | |
(Cost $5,173,206) | | | | | | | 5,336,854 | |
| | |
Finland — 5.3% | | | | | | | | |
| | |
Neste OYJ | | | 5,625 | | | | 131,687 | |
| | |
Stora Enso OYJ, Class R | | | 47,263 | | | | 611,829 | |
| | |
UPM-Kymmene OYJ | | | 26,344 | | | | 891,718 | |
| | |
(Cost $1,618,916) | | | | | | | 1,635,234 | |
| | |
France — 4.3% | | | | | | | | |
| | |
TotalEnergies SE | | | | | | | | |
| | |
(Cost $1,311,181) | | | 19,392 | | | | 1,334,909 | |
| | |
Ireland — 3.3% | | | | | | | | |
| | |
Smurfit WestRock PLC | | | 16,227 | | | | 769,484 | |
| | |
Smurfit WestRock PLC | | | 5,186 | | | | 244,752 | |
| | |
(Cost $983,714) | | | | | | | 1,014,236 | |
| | |
Japan — 0.0% | | | | | | | | |
| | |
Nippon Steel Corp. | | | | | | | | |
| | |
(Cost $6,520) | | | 300 | | | | 6,820 | |
| | |
Luxembourg — 1.5% | | | | | | | | |
| | |
ArcelorMittal SA | | | | | | | | |
| | |
(Cost $451,576) | | | 19,405 | | | | 454,719 | |
| | |
Norway — 2.6% | | | | | | | | |
| | |
Equinor ASA | | | 848 | | | | 22,536 | |
| | |
Norsk Hydro ASA | | | 139,651 | | | | 783,149 | |
| | |
(Cost $802,733) | | | | | | | 805,685 | |
| | |
Singapore — 0.5% | | | | | | | | |
| | |
Wilmar International Ltd. | | | | | | | | |
| | |
(Cost $137,475) | | | 58,100 | | | | 139,962 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
South Africa — 2.3% | | | | | | | | |
| | |
Gold Fields Ltd. | | | 44,838 | | | | 626,141 | |
| | |
Gold Fields Ltd., ADR | | | 5,529 | | | | 75,969 | |
| | |
(Cost $723,545) | | | | | | | 702,110 | |
| | |
South Korea — 1.5% | | | | | | | | |
| | |
POSCO Holdings, Inc. | | | | | | | | |
| | |
(Cost $475,505) | | | 1,853 | | | | 471,625 | |
| | |
Switzerland — 5.3% | | | | | | | | |
| | |
Glencore PLC* | | | 226,886 | | | | 1,195,125 | |
| | |
SIG Group AG* | | | 20,933 | | | | 442,617 | |
| | |
(Cost $1,587,637) | | | | | | | 1,637,742 | |
| | |
United Kingdom — 18.6% | | | | | | | | |
| | |
Amcor PLC | | | 13,009 | | | | 148,823 | |
| | |
Amcor PLC CDI | | | 415 | | | | 4,699 | |
| | |
Anglo American PLC | | | 19,067 | | | | 553,549 | |
| | |
BP PLC | | | 57,672 | | | | 325,466 | |
| | |
DS Smith PLC | | | 96,342 | | | | 592,570 | |
| | |
Mondi PLC | | | 27,899 | | | | 539,728 | |
| | |
Rio Tinto PLC | | | 21,725 | | | | 1,361,935 | |
| | |
Shell PLC | | | 63,183 | | | | 2,226,256 | |
| | |
(Cost $5,646,859) | | | | | | | 5,753,026 | |
| | |
United States — 32.1% | | | | | | | | |
| | |
Archer-Daniels-Midland Co. | | | 8,851 | | | | 539,823 | |
| | |
Bunge Global SA | | | 4,068 | | | | 412,414 | |
| | |
Chesapeake Energy Corp. | | | 957 | | | | 71,287 | |
| | |
Chevron Corp. | | | 2,295 | | | | 339,545 | |
| | |
Commercial Metals Co. | | | 5,921 | | | | 317,306 | |
| | |
ConocoPhillips | | | 7,693 | | | | 875,387 | |
| | |
Corteva, Inc. | | | 20,546 | | | | 1,177,286 | |
| | |
Coterra Energy, Inc. | | | 7,300 | | | | 177,609 | |
| | |
Darling Ingredients, Inc.* | | | 3,285 | | | | 137,083 | |
| | |
Diamondback Energy, Inc. | | | 1,292 | | | | 252,082 | |
| | |
Exxon Mobil Corp. | | | 13,432 | | | | 1,584,170 | |
| | |
FMC Corp. | | | 2,290 | | | | 147,888 | |
| | |
Freeport-McMoRan, Inc. | | | 14,468 | | | | 640,643 | |
| | |
Graphic Packaging Holding Co. | | | 7,400 | | | | 221,482 | |
| | |
Hess Corp. | | | 535 | | | | 73,862 | |
| | |
Ingredion, Inc. | | | 959 | | | | 128,803 | |
| | |
International Paper Co. | | | 11,501 | | | | 556,878 | |
| | |
Mosaic Co. | | | 13,529 | | | | 386,524 | |
| | |
Newmont Corp. | | | 5,157 | | | | 275,332 | |
| | |
Reliance, Inc. | | | 37 | | | | 10,606 | |
| | |
Schlumberger NV | | | 10,681 | | | | 469,857 | |
| | |
Sealed Air Corp. | | | 7,302 | | | | 255,205 | |
| | |
Silgan Holdings, Inc. | | | 3,292 | | | | 172,073 | |
| | |
Valero Energy Corp. | | | 2,906 | | | | 426,397 | |
See Notes to Financial Statements.
DBX ETF Trust | 57
Schedule of Investments
Xtrackers RREEF Global Natural Resources ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Weyerhaeuser Co. REIT | | | 9,034 | | | | 275,447 | |
| | |
(Cost $9,769,349) | | | | | | | 9,924,989 | |
| | |
TOTAL COMMON STOCKS | | | | | | | | |
| | |
(Cost $30,451,105) | | | | | | | 30,898,613 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
TOTAL INVESTMENTS — 99.9% | | | | | | | | |
| | |
(Cost $30,451,105) | | | | | | | 30,898,613 | |
| | |
Other assets and liabilities, net — 0.1% | | | | | | | 40,978 | |
| | |
NET ASSETS — 100.0% | | | | | | | 30,939,591 | |
A summary of the Fund’s transactions with affiliated investments during the period ended August 31, 2024 is as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | |
Value ($) at
2/27/2024
(Commencement
of Operations) | | Purchases Cost
($) | | Sales
Proceeds ($) | | Net Realized
Gain/(Loss)
($) | | | Net Change
in Unrealized
Appreciation
(Depreciation)
($) | | | Income ($) | | Capital Gain Distributions ($) | | | Number of Shares at 8/31/2024 | | | Value ($) at
8/31/2024 | |
| | | | | | |
CASH EQUIVALENTS — 0.0% | | | | | | | | | | | | | | | | | | | | | | |
| |
DWS Government Money Market Series “Institutional Shares”, 5.24% (a) | | | | | |
| | | | | | | | |
— | | 3,391,343 | | (3,391,343) | | | — | | | | — | | | 2,656 | | | — | | | | — | | | | — | |
| * | Non-income producing security. |
| (a) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
| ADR: | American Depositary Receipt |
| CDI: | Chess Depositary Interests |
| REIT: | Real Estate Investment Trust |
Securities are listed in country of domicile.
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of August 31, 2024 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
| | | | | | | | | | | | | | | | |
| Assets | | Level 1 | | Level 2 | | Level 3 | | Total |
| | | | | |
Common Stocks (a) | | $ | 30,898,613 | | | $ | — | | | $ | — | | | $ | 30,898,613 | |
| | | | | |
TOTAL | | $ | 30,898,613 | | | $ | — | | | $ | — | | | $ | 30,898,613 | |
| (a) | See Schedule of Investments for additional detailed categorizations. |
See Notes to Financial Statements.
58 | DBX ETF Trust
Statements of Assets and Liabilities
August 31, 2024
| | | | | | | | | | | | | | | | |
| | | Xtrackers | | | | | | |
| | | Emerging | | | | | | |
| | | Markets | | | | Xtrackers MSCI | | |
| | | Carbon | | Xtrackers MSCI | | Emerging | | Xtrackers MSCI |
| | | Reduction | | EAFE ESG | | Markets ESG | | USA Climate |
| | | and Climate | | Leaders Equity | | Leaders Equity | | Action Equity |
| | | Improvers ETF | | ETF | | ETF | | ETF |
| | | | | |
Assets | | | | | | | | | | | | | | | | |
Investment in non-affiliated securities at value | | $ | 92,435,390 | | | $ | 53,696,133 | | | $ | 28,157,137 | | | $ | 2,202,191,592 | |
Investment in DWS Government Money Market Series | | | 2,308,436 | | | | 41,263 | | | | 203,173 | | | | 3,995,298 | |
Investment in DWS Government & Agency Securities Portfolio* | | | 89,242 | | | | 83,698 | | | | 34,336 | | | | — | |
Foreign currency at value | | | 186,412 | | | | 50,414 | | | | 16,291 | | | | — | |
Deposit with broker for futures contracts | | | 85,698 | | | | 10,745 | | | | 1,865 | | | | 469,590 | |
Receivables: | | | | | | | | | | | | | | | | |
Investment securities sold | | | — | | | | 250,237 | | | | 506,236 | | | | 5,613,492 | |
Capital shares | | | — | | | | — | | | | — | | | | 10,602,758 | |
Variation margin on futures contracts | | | — | | | | 4,414 | | | | 6,199 | | | | — | |
Dividends | | | 119,035 | | | | 80,847 | | | | 30,539 | | | | 2,569,840 | |
Interest | | | 9,605 | | | | 192 | | | | 360 | | | | 14,818 | |
Affiliated securities lending income | | | 51 | | | | 3 | | | | 6 | | | | — | |
Foreign tax reclaim | | | 12,817 | | | | 80,447 | | | | 332 | | | | — | |
Total assets | | $ | 95,246,686 | | | $ | 54,298,393 | | | $ | 28,956,474 | | | $ | 2,225,457,388 | |
| | | | |
Liabilities | | | | | | | | | | | | | | | | |
Payable upon return of securities loaned | | $ | 89,242 | | | $ | 83,698 | | | $ | 34,336 | | | $ | — | |
Payables: | | | | | | | | | | | | | | | | |
Investment securities purchased | | | — | | | | 301,616 | | | | 689,873 | | | | 12,737,855 | |
Investment advisory fees | | | 11,515 | | | | 5,955 | | | | 4,701 | | | | 126,398 | |
Variation margin on futures contracts | | | 2,645 | | | | — | | | | — | | | | 143,782 | |
Deferred foreign tax | | | 880,380 | | | | — | | | | 211,423 | | | | — | |
Total liabilities | | | 983,782 | | | | 391,269 | | | | 940,333 | | | | 13,008,035 | |
Net Assets, at value | | $ | 94,262,904 | | | $ | 53,907,124 | | | $ | 28,016,141 | | | $ | 2,212,449,353 | |
| | | | |
Net Assets Consist of | | | | | | | | | | | | | | | | |
Paid-in capital | | $ | 179,433,654 | | | $ | 46,987,923 | | | $ | 29,794,589 | | | $ | 1,732,090,300 | |
Distributable earnings (loss) | | | (85,170,750 | ) | | | 6,919,201 | | | | (1,778,448 | ) | | | 480,359,053 | |
| | | | |
Net Assets, at value | | $ | 94,262,904 | | | $ | 53,907,124 | | | $ | 28,016,141 | | | $ | 2,212,449,353 | |
Number of Common Shares outstanding | | | 3,100,001 | | | | 1,650,001 | | | | 1,050,001 | | | | 62,600,001 | |
Net Asset Value | | $ | 30.41 | | | $ | 32.67 | | | $ | 26.68 | | | $ | 35.34 | |
| | | | |
Investment in non-affiliated securities at cost | | $ | 97,304,567 | | | $ | 43,921,577 | | | $ | 25,760,287 | | | $ | 1,725,028,212 | |
Value of securities loaned | | $ | 82,732 | | | $ | 81,202 | | | $ | 31,831 | | | $ | — | |
Investment in DWS Government Money Market Series at cost | | $ | 2,308,436 | | | $ | 41,263 | | | $ | 203,173 | | | $ | 3,995,298 | |
Investment in DWS Government & Agency Securities Portfolio at cost* | | $ | 89,242 | | | $ | 83,698 | | | $ | 34,336 | | | $ | — | |
Foreign currency at cost | | $ | 186,287 | | | $ | 47,946 | | | $ | 16,647 | | | $ | — | |
| * | Represents collateral on securities loaned. |
See Notes to Financial Statements.
DBX ETF Trust | 59
Statements of Assets and Liabilities (Continued)
August 31, 2024
| | | | | | | | | | | | |
| | | Xtrackers | | Xtrackers Net | | Xtrackers |
| | | MSCI USA ESG | | Zero Pathway | | RREEF Global |
| | | Leaders Equity | | Paris Aligned | | Natural |
| | | ETF | | US Equity ETF | | Resources ETF |
| | | | |
Assets | | | | | | | | | | | | |
Investment in non-affiliated securities at value | | $ | 1,038,584,828 | | | $ | 220,861,847 | | | $ | 30,898,613 | |
Investment in affiliated securities at value | | | — | | | | 307,443 | | | | — | |
Investment in DWS Government Money Market Series | | | 1,394,044 | | | | 307,334 | | | | — | |
Investment in DWS Government & Agency Securities Portfolio* | | | 354,960 | | | | 512,450 | | | | — | |
Foreign currency at value | | | — | | | | — | | | | 522,644 | |
Deposit with broker for futures contracts | | | 269,830 | | | | 21,252 | | | | — | |
Receivables: | | | | | | | | | | | | |
Investment securities sold | | | 5,862,488 | | | | — | | | | 564,246 | |
Capital shares | | | — | | | | — | | | | 7,973,878 | |
Variation margin on futures contracts | | | — | | | | 3,570 | | | | — | |
Dividends | | | 1,144,813 | | | | 188,602 | | | | 66,854 | |
Interest | | | 4,960 | | | | 1,147 | | | | 106 | |
Affiliated securities lending income | | | 6 | | | | 3,982 | | | | — | |
Foreign tax reclaim | | | — | | | | — | | | | 4,279 | |
Total assets | | $ | 1,047,615,929 | | | $ | 222,207,627 | | | $ | 40,030,620 | |
| | | |
Liabilities | | | | | | | | | | | | |
Due to custodian | | $ | — | | | $ | — | | | $ | 233,913 | |
Payable upon return of securities loaned | | | 354,960 | | | | 512,450 | | | | — | |
Payables: | | | | | | | | | | | | |
Investment securities purchased | | | 2,366,632 | | | | — | | | | 8,852,798 | |
Capital shares | | | — | | | | — | | | | 50 | |
Investment advisory fees | | | 77,608 | | | | 17,817 | | | | 4,268 | |
Variation margin on futures contracts | | | 148,697 | | | | — | | | | — | |
Total liabilities | | | 2,947,897 | | | | 530,267 | | | | 9,091,029 | |
Net Assets, at value | | $ | 1,044,668,032 | | | $ | 221,677,360 | | | $ | 30,939,591 | |
| | | |
Net Assets Consist of | | | | | | | | | | | | |
Paid-in capital | | $ | 929,735,255 | | | $ | 169,616,838 | | | $ | 30,187,387 | |
Distributable earnings (loss) | | | 114,932,777 | | | | 52,060,522 | | | | 752,204 | |
| | | |
Net Assets, at value | | $ | 1,044,668,032 | | | $ | 221,677,360 | | | $ | 30,939,591 | |
Number of Common Shares outstanding | | | 20,000,001 | | | | 6,050,001 | | | | 1,150,001 | |
Net Asset Value | | $ | 52.23 | | | $ | 36.64 | | | $ | 26.90 | |
| | | |
Investment in non-affiliated securities at cost | | $ | 835,859,752 | | | $ | 167,136,714 | | | $ | 30,451,105 | |
Investment in affiliated securities at cost | | $ | – | | | $ | 276,414 | | | $ | – | |
Value of securities loaned | | $ | 344,923 | | | $ | 505,572 | | | $ | — | |
Investment in DWS Government Money Market Series at cost | | $ | 1,394,044 | | | $ | 307,334 | | | $ | — | |
Investment in DWS Government & Agency Securities Portfolio at cost* | | $ | 354,960 | | | $ | 512,450 | | | $ | — | |
Foreign currency at cost | | $ | — | | | $ | — | | | $ | 522,102 | |
| * | Represents collateral on securities loaned. |
See Notes to Financial Statements.
60 | DBX ETF Trust
Statements of Operations
For the Year Ended August 31, 2024
| | | | | | | | | | | | | | | | |
| | | Xtrackers | | | | | | |
| | | Emerging | | | | | | |
| | | Markets | | | | Xtrackers MSCI | | |
| | | Carbon | | Xtrackers MSCI | | Emerging | | Xtrackers MSCI |
| | | Reduction | | EAFE ESG | | Markets ESG | | USA Climate |
| | | and Climate | | Leaders Equity | | Leaders Equity | | Action Equity |
| | | Improvers ETF | | ETF | | ETF | | ETF |
| | | | | |
Investment Income | | | | | | | | | | | | | | | | |
Unaffiliated dividend income* | | $ | 8,138,842 | | | $ | 1,289,222 | | | $ | 644,958 | | | $ | 29,828,703 | |
Affiliated dividend income | | | — | | | | — | | | | 400 | | | | — | |
Income distributions from affiliated funds | | | 176,732 | | | | 2,324 | | | | 1,886 | | | | 200,730 | |
Affiliated securities lending income | | | 10,098 | | | | 571 | | | | 179 | | | | 14,444 | |
Payments by affiliates (see note 6) | | | 10,667 | | | | — | | | | — | | | | — | |
Unaffiliated securities lending income, net of borrower rebates | | | — | | | | — | | | | — | | | | 598 | |
Total investment income | | | 8,336,339 | | | | 1,292,117 | | | | 647,423 | | | | 30,044,475 | |
| | | | |
Expenses | | | | | | | | | | | | | | | | |
Investment advisory fees | | | 674,756 | | | | 66,165 | | | | 51,138 | | | | 1,471,431 | |
Other expenses | | | 58 | | | | 58 | | | | 58 | | | | 30 | |
Total expenses | | | 674,814 | | | | 66,223 | | | | 51,196 | | | | 1,471,461 | |
Less fees waived (see note 3): | | | | | | | | | | | | | | | | |
Waiver | | | (3,739 | ) | | | (56 | ) | | | (50 | ) | | | (4,337 | ) |
Net expenses | | | 671,075 | | | | 66,167 | | | | 51,146 | | | | 1,467,124 | |
Net investment income (loss) | | | 7,665,264 | | | | 1,225,950 | | | | 596,277 | | | | 28,577,351 | |
| | | | |
Realized and Unrealized Gain (Loss) | | | | | | | | | | | | | | | | |
Net realized gain (loss) from: | | | | | | | | | | | | | | | | |
Investments** | | | (24,375,698 | ) | | | (489,997 | ) | | | (746,065 | ) | | | (13,975,444 | ) |
Investments in affiliates | | | — | | | | — | | | | 468 | | | | — | |
In-kind redemptions | | | (7,441,681 | ) | | | 471,545 | | | | — | | | | 244,305,038 | |
Futures contracts | | | 326,605 | | | | 14,187 | | | | 2,357 | | | | 892,735 | |
Foreign currency transactions | | | (749,430 | ) | | | (970 | ) | | | (39,445 | ) | | | — | |
Payments by Affiliates (see note 6) | | | 1,394 | | | | — | | | | — | | | | — | |
Net realized gain (loss) | | | (32,238,810 | ) | | | (5,235 | ) | | | (782,685 | ) | | | 231,222,329 | |
Net change in unrealized appreciation (depreciation) on: | | | | | | | | | | | | | | | | |
Investments*** | | | 83,244,734 | | | | 7,812,253 | | | | 3,774,029 | | | | 253,807,988 | |
Investments in affiliates | | | — | | | | — | | | | (31 | ) | | | — | |
Futures contracts | | | 70,558 | | | | 948 | | | | (485 | ) | | | (24,756 | ) |
Foreign currency translations | | | 35,678 | | | | 6,946 | | | | 28,563 | | | | — | |
Net change in unrealized appreciation (depreciation) | | | 83,350,970 | | | | 7,820,147 | | | | 3,802,076 | | | | 253,783,232 | |
| Net realized and unrealized gain (loss) on investments, futures and foreign currency transactions | | | 51,112,160 | | | | 7,814,912 | | | | 3,019,391 | | | | 485,005,561 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | | $ | 58,777,424 | | | $ | 9,040,862 | | | $ | 3,615,668 | | | $ | 513,582,912 | |
| | | | |
* Unaffiliated foreign tax withheld | | $ | 1,090,777 | | | $ | 139,719 | | | $ | 84,560 | | | $ | 3,058 | |
** Including foreign taxes | | $ | 3,143,578 | | | $ | — | | | $ | 20,150 | | | $ | — | |
*** Net of change in deferred foreign taxes | | $ | (497,421 | ) | | $ | — | | | $ | (186,717 | ) | | $ | — | |
See Notes to Financial Statements.
DBX ETF Trust | 61
Statements of Operations (Continued)
For the Year Ended August 31, 2024
| | | | | | | | | | | | |
| | | | | | | Xtrackers |
| | | Xtrackers | | Xtrackers Net | | RREEF Global |
| | | MSCI USA ESG | | Zero Pathway | | Natural |
| | | Leaders Equity | | Paris Aligned | | Resources |
| | | ETF | | US Equity ETF | | ETF(1) |
| | | | |
Investment Income | | | | | | | | | | | | |
Unaffiliated dividend income* | | $ | 14,526,891 | | | $ | 2,407,430 | | | $ | 220,482 | |
Affiliated dividend income | | | — | | | | 799 | | | | — | |
Income distributions from affiliated funds | | | 168,639 | | | | 17,724 | | | | 2,656 | |
Affiliated securities lending income | | | 27,686 | | | | 8,994 | | | | — | |
Payments by affiliates (see note 6) | | | 8,669 | | | | — | | | | — | |
Unaffiliated securities lending income, net of borrower rebates | | | — | | | | 9,109 | | | | — | |
Total investment income | | | 14,731,885 | | | | 2,444,056 | | | | 223,138 | |
| | | |
Expenses | | | | | | | | | | | | |
Investment advisory fees | | | 1,084,077 | | | | 176,717 | | | | 26,025 | |
Other expenses | | | 58 | | | | 58 | | | | — | |
Total expenses | | | 1,084,135 | | | | 176,775 | | | | 26,025 | |
Less fees waived (see note 3): | | | | | | | | | | | | |
Waiver | | | (107,196 | ) | | | (443 | ) | | | (61 | ) |
Net expenses | | | 976,939 | | | | 176,332 | | | | 25,964 | |
Net investment income (loss) | | | 13,754,946 | | | | 2,267,724 | | | | 197,174 | |
| | | |
Realized and Unrealized Gain (Loss) | | | | | | | | | | | | |
Net realized gain (loss) from: | | | | | | | | | | | | |
Investments | | | (13,085,479 | ) | | | (1,660,714 | ) | | | 221,415 | |
In-kind redemptions | | | 151,554,714 | | | | 7,078,072 | | | | — | |
Futures contracts | | | 755,895 | | | | 90,786 | | | | — | |
Foreign currency transactions | | | — | | | | — | | | | 1,090 | |
Net realized gain (loss) | | | 139,225,130 | | | | 5,508,144 | | | | 222,505 | |
Net change in unrealized appreciation (depreciation) on: | | | | | | | | | | | | |
Investments | | | 91,128,729 | | | | 37,314,297 | | | | 447,508 | |
Investments in affiliates | | | — | | | | 31,029 | | | | — | |
Futures contracts | | | (77,061 | ) | | | 4,882 | | | | — | |
Foreign currency translations | | | — | | | | — | | | | 2,742 | |
Net change in unrealized appreciation (depreciation) | | | 91,051,668 | | | | 37,350,208 | | | | 450,250 | |
| Net realized and unrealized gain (loss) on investments, futures and foreign currency transactions | | | 230,276,798 | | | | 42,858,352 | | | | 672,755 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | | $ | 244,031,744 | | | $ | 45,126,076 | | | $ | 869,929 | |
| | | |
* Unaffiliated foreign tax withheld | | $ | 7,715 | | | $ | — | | | $ | 11,599 | |
| (1) | For the period February 27, 2024 (commencement of operations) through August 31, 2024. |
See Notes to Financial Statements.
62 | DBX ETF Trust
Statements of Changes in Net Assets
| | | | | | | | | | | | | | | | |
| | | Xtrackers Emerging Markets | | | | |
| | | Carbon Reduction and Climate | | Xtrackers MSCI EAFE ESG |
| | | Improvers ETF | | Leaders Equity ETF |
| | | | |
| | | Year Ended | | Year Ended | | Year Ended | | Year Ended |
| | | August 31, 2024 | | August 31, 2023 | | August 31, 2024 | | August 31, 2023 |
| | | | |
Increase (Decrease) in Net Assets from Operations | | | | | | | | | | | | | | | | |
Net investment income (loss) | | $ | 7,665,264 | | | $ | 11,115,481 | | | $ | 1,225,950 | | | $ | 1,044,986 | |
Net realized gain (loss) | | | (32,238,810 | ) | | | (18,487,055 | ) | | | (5,235 | ) | | | (735,306 | ) |
Net change in net unrealized appreciation (depreciation) | | | 83,350,970 | | | | 17,309,303 | | | | 7,820,147 | | | | 5,026,694 | |
Net increase (decrease) in net assets resulting from operations | | | 58,777,424 | | | | 9,937,729 | | | | 9,040,862 | | | | 5,336,374 | |
Distributions to Shareholders | | | (8,720,560 | ) | | | (12,833,632 | ) | | | (1,250,289 | ) | | | (957,399 | ) |
Fund Shares Transactions | | | | | | | | | | | | | | | | |
Proceeds from shares sold | | | 329,006,403 | | | | 2,359,527 | | | | 4,517,522 | | | | 13,833,465 | |
Value of shares redeemed | | | (777,045,199 | ) | | | — | | | | (1,584,526 | ) | | | (4,135,077 | ) |
| Net increase (decrease) in net assets resulting from fund share transactions | | | (448,038,796 | ) | | | 2,359,527 | | | | 2,932,996 | | | | 9,698,388 | |
Total net increase (decrease) in Net Assets | | | (397,981,932 | ) | | | (536,376 | ) | | | 10,723,569 | | | | 14,077,363 | |
Net Assets | | | | | | | | | | | | | | | | |
Beginning of year | | | 492,244,836 | | | | 492,781,212 | | | | 43,183,555 | | | | 29,106,192 | |
End of year | | $ | 94,262,904 | | | $ | 492,244,836 | | | $ | 53,907,124 | | | $ | 43,183,555 | |
| | | | |
Changes in Shares Outstanding | | | | | | | | | | | | | | | | |
Shares outstanding, beginning of year | | | 18,400,001 | | | | 18,300,001 | | | | 1,550,001 | | | | 1,200,001 | |
Shares sold | | | 12,150,000 | | | | 100,000 | | | | 150,000 | | | | 500,000 | |
Shares redeemed | | | (27,450,000 | ) | | | — | | | | (50,000 | ) | | | (150,000 | ) |
Shares outstanding, end of year | | | 3,100,001 | | | | 18,400,001 | | | | 1,650,001 | | | | 1,550,001 | |
See Notes to Financial Statements.
DBX ETF Trust | 63
Statements of Changes in Net Assets (Continued)
| | | | | | | | | | | | | | | | |
| | | Xtrackers MSCI Emerging | | Xtrackers MSCI USA Climate |
| | | Markets ESG Leaders Equity ETF | | Action Equity ETF |
| | | | |
| | | | | | | | | For the Period |
| | | Year Ended | | Year Ended | | Year Ended | | April 4, 2023(1) to |
| | | August 31, 2024 | | August 31, 2023 | | August 31, 2024 | | August 31, 2023 |
| | | | |
Increase (Decrease) in Net Assets from Operations | | | | | | | | | | | | | | | | |
Net investment income (loss) | | $ | 596,277 | | | $ | 539,869 | | | $ | 28,577,351 | | | $ | 13,732,996 | |
Net realized gain (loss) | | | (782,685 | ) | | | (1,939,343 | ) | | | 231,222,329 | | | | 24,723,533 | |
Net change in net unrealized appreciation (depreciation) | | | 3,802,076 | | | | 1,411,821 | | | | 253,783,232 | | | | 223,498,580 | |
Net increase (decrease) in net assets resulting from operations | | | 3,615,668 | | | | 12,347 | | | | 513,582,912 | | | | 261,955,109 | |
Distributions to Shareholders | | | (586,531 | ) | | | (495,191 | ) | | | (32,682,806 | ) | | | (6,700,040 | ) |
Fund Shares Transactions | | | | | | | | | | | | | | | | |
Proceeds from shares sold | | | — | | | | 4,573,005 | | | | 575,108,072 | | | | 2,206,770,268 | |
Value of shares redeemed | | | — | | | | (2,277,610 | ) | | | (1,118,683,278 | ) | | | (186,900,909 | ) |
| Net increase (decrease) in net assets resulting from fund share transactions | | | — | | | | 2,295,395 | | | | (543,575,206 | ) | | | 2,019,869,359 | |
Total net increase (decrease) in Net Assets | | | 3,029,137 | | | | 1,812,551 | | | | (62,675,100 | ) | | | 2,275,124,428 | |
Net Assets | | | | | | | | | | | | | | | | |
Beginning of period | | | 24,987,004 | | | | 23,174,453 | | | | 2,275,124,453 | | | | 25 | |
End of period | | $ | 28,016,141 | | | $ | 24,987,004 | | | $ | 2,212,449,353 | | | $ | 2,275,124,453 | |
| | | | |
Changes in Shares Outstanding | | | | | | | | | | | | | | | | |
Shares outstanding, beginning of period | | | 1,050,001 | | | | 950,001 | | | | 81,100,001 | | | | 1 | |
Shares sold | | | — | | | | 200,000 | | | | 19,000,000 | | | | 88,350,000 | |
Shares redeemed | | | — | | | | (100,000 | ) | | | (37,500,000 | ) | | | (7,250,000 | ) |
Shares outstanding, end of period | | | 1,050,001 | | | | 1,050,001 | | | | 62,600,001 | | | | 81,100,001 | |
| (1) | Commencement of Operations. |
See Notes to Financial Statements.
64 | DBX ETF Trust
Statements of Changes in Net Assets (Continued)
| | | | | | | | | | | | | | | | |
| | | Xtrackers MSCI USA ESG Leaders | | Xtrackers Net Zero Pathway Paris |
| | | Equity ETF | | Aligned US Equity ETF |
| | | | |
| | | Year Ended | | Year Ended | | Year Ended | | Year Ended |
| | | August 31, 2024 | | August 31, 2023 | | August 31, 2024 | | August 31, 2023 |
| | | | |
Increase (Decrease) in Net Assets from Operations | | | | | | | | | | | | | | | | |
Net investment income (loss) | | $ | 13,754,946 | | | $ | 36,167,624 | | | $ | 2,267,724 | | | $ | 1,476,161 | |
Net realized gain (loss) | | | 139,225,130 | | | | 502,735,282 | | | | 5,508,144 | | | | 1,416,539 | |
Net change in net unrealized appreciation (depreciation) | | | 91,051,668 | | | | (225,613,355 | ) | | | 37,350,208 | | | | 14,860,113 | |
Net increase (decrease) in net assets resulting from operations | | | 244,031,744 | | | | 313,289,551 | | | | 45,126,076 | | | | 17,752,813 | |
Distributions to Shareholders | | | (14,649,602 | ) | | | (41,345,101 | ) | | | (2,136,306 | ) | | | (1,268,208 | ) |
Fund Shares Transactions | | | | | | | | | | | | | | | | |
Proceeds from shares sold | | | 189,393,361 | | | | 240,179,457 | | | | 45,647,060 | | | | 64,054,316 | |
Value of shares redeemed | | | (656,999,562 | ) | | | (2,288,923,620 | ) | | | (14,855,434 | ) | | | (8,280,393 | ) |
| Net increase (decrease) in net assets resulting from fund share transactions | | | (467,606,201 | ) | | | (2,048,744,163 | ) | | | 30,791,626 | | | | 55,773,923 | |
Total net increase (decrease) in Net Assets | | | (238,224,059 | ) | | | (1,776,799,713 | ) | | | 73,781,396 | | | | 72,258,528 | |
Net Assets | | | | | | | | | | | | | | | | |
Beginning of year | | | 1,282,892,091 | | | | 3,059,691,804 | | | | 147,895,964 | | | | 75,637,436 | |
End of year | | $ | 1,044,668,032 | | | $ | 1,282,892,091 | | | $ | 221,677,360 | | | $ | 147,895,964 | |
| | | | |
Changes in Shares Outstanding | | | | | | | | | | | | | | | | |
Shares outstanding, beginning of year | | | 30,650,001 | | | | 85,300,001 | | | | 5,100,001 | | | | 3,000,001 | |
Shares sold | | | 4,050,000 | | | | 6,650,000 | | | | 1,400,000 | | | | 2,400,000 | |
Shares redeemed | | | (14,700,000 | ) | | | (61,300,000 | ) | | | (450,000 | ) | | | (300,000 | ) |
Shares outstanding, end of year | | | 20,000,001 | | | | 30,650,001 | | | | 6,050,001 | | | | 5,100,001 | |
See Notes to Financial Statements.
DBX ETF Trust | 65
Statements of Changes in Net Assets (Continued)
| | | | |
| | | Xtrackers
RREEF Global
Natural
Resources ETF |
| | | For the Period
February 27,
2024(1) to
August 31, 2024 |
| |
Increase (Decrease) in Net Assets from Operations | | | | |
Net investment income (loss) | | $ | 197,174 | |
Net realized gain (loss) | | | 222,505 | |
Net change in net unrealized appreciation (depreciation) | | | 450,250 | |
Net increase (decrease) in net assets resulting from operations | | | 869,929 | |
Distributions to Shareholders | | | (117,725 | ) |
| |
Fund Shares Transactions | | | | |
Proceeds from shares sold | | | 30,187,362 | |
Value of shares redeemed | | | — | |
Net increase (decrease) in net assets resulting from fund share transactions | | | 30,187,362 | |
Total net increase (decrease) in Net Assets | | | 30,939,566 | |
| |
Net Assets | | | | |
Beginning of period | | | 25 | |
End of period | | $ | 30,939,591 | |
| |
Changes in Shares Outstanding | | | | |
Shares outstanding, beginning of period | | | 1 | |
Shares sold | | | 1,150,000 | |
Shares redeemed | | | — | |
Shares outstanding, end of period | | | 1,150,001 | |
| (1) | Commencement of Operations. |
See Notes to Financial Statements.
66 | DBX ETF Trust
Financial Highlights
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF
| | | | | | | | | | | | | | | | | | | | |
| | | Years Ended August 31, |
| | | 2024 | | 2023 | | 2022 | | 2021 | | 2020 |
| | | | | |
Selected Per Share Data | | | | | | | | | | | | | | | | | | | | |
| | | | | |
Net Asset Value, beginning of year | | $ | 26.75 | | | $ | 26.93 | | | $ | 34.69 | | | $ | 27.90 | | | $ | 25.42 | |
| | | | | |
Income (loss) from investment operations: | | | | | | | | | | | | | | | | | | | | |
| | | | | |
Net investment income (loss)(a) | | | 0.47 | | | | 0.60 | | | | 0.70 | | | | 0.57 | | | | 0.68 | |
| | | | | |
Net realized and unrealized gain (loss) | | | 3.48 | | | | (0.08 | ) | | | (7.88 | ) | | | 6.86 | | | | 2.53 | |
| | | | | |
Total from investment operations | | | 3.95 | | | | 0.52 | | | | (7.18 | ) | | | 7.43 | | | | 3.21 | |
| | | | | |
Less distributions from: | | | | | | | | | | | | | | | | | | | | |
| | | | | |
Net investment income | | | (0.29 | ) | | | (0.70 | ) | | | (0.58 | ) | | | (0.64 | ) | | | (0.73 | ) |
| | | | | |
Total from distributions | | | (0.29 | ) | | | (0.70 | ) | | | (0.58 | ) | | | (0.64 | ) | | | (0.73 | ) |
| | | | | |
Net Asset Value, end of year | | $ | 30.41 | | | $ | 26.75 | | | $ | 26.93 | | | $ | 34.69 | | | $ | 27.90 | |
| | | | | |
Total Return (%)(b) | | | 14.88 | | | | 2.01 | | | | (20.81 | ) | | | 26.80 | | | | 12.74 | |
| | | | | |
Ratios to Average Net Assets and Supplemental Data | | | | | | | | | | | | | | | | | | | | |
| | | | | |
Net Assets, end of year ($ millions) | | | 94 | | | | 492 | | | | 493 | | | | 496 | | | | 8 | |
| | | | | |
Ratio of expenses before fee waiver (%) | | | 0.15 | | | | 0.15 | | | | 0.15 | | | | 0.16 | | | | 0.16 | |
| | | | | |
Ratio of expenses after fee waiver (%) | | | 0.15 | | | | 0.15 | | | | 0.15 | | | | 0.16 | | | | 0.16 | |
| | | | | |
Ratio of net investment income (loss) (%) | | | 1.70 | | | | 2.30 | | | | 2.30 | | | | 1.97 | | | | 2.61 | |
| | | | | |
Portfolio turnover rate (%)(c) | | | 79 | | | | 16 | | | | 33 | | | | 17 | | | | 13 | |
| (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. |
See Notes to Financial Statements.
DBX ETF Trust | 67
Financial Highlights (Continued)
Xtrackers MSCI EAFE ESG Leaders Equity ETF
| | | | | | | | | | | | | | | | | | | | |
| | | Years Ended August 31, |
| | | 2024 | | 2023 | | 2022 | | 2021 | | 2020 |
| | | | | |
Selected Per Share Data | | | | | | | | | | | | | | | | | | | | |
| | | | | |
Net Asset Value, beginning of year | | $ | 27.86 | | | $ | 24.26 | | | $ | 31.79 | | | $ | 25.96 | | | $ | 24.10 | |
| | | | | |
Income (loss) from investment operations: | | | | | | | | | | | | | | | | | | | | |
| | | | | |
Net investment income (loss)(a) | | | 0.77 | | | | 0.78 | | | | 0.85 | | | | 0.72 | | | | 0.59 | |
| | | | | |
Net realized and unrealized gain (loss) | | | 4.82 | | | | 3.51 | | | | (7.57 | ) | | | 5.80 | | | | 1.83 | |
| | | | | |
Total from investment operations | | | 5.59 | | | | 4.29 | | | | (6.72 | ) | | | 6.52 | | | | 2.42 | |
| | | | | |
Less distributions from: | | | | | | | | | | | | | | | | | | | | |
| | | | | |
Net investment income | | | (0.78 | ) | | | (0.69 | ) | | | (0.81 | ) | | | (0.69 | ) | | | (0.56 | ) |
| | | | | |
Total from distributions | | | (0.78 | ) | | | (0.69 | ) | | | (0.81 | ) | | | (0.69 | ) | | | (0.56 | ) |
| | | | | |
Net Asset Value, end of year | | $ | 32.67 | | | $ | 27.86 | | | $ | 24.26 | | | $ | 31.79 | | | $ | 25.96 | |
| | | | | |
Total Return (%)(b) | | | 20.32 | | | | 17.79 | | | | (21.40 | ) | | | 25.28 | | | | 10.12 | |
| | | | | |
Ratios to Average Net Assets and Supplemental Data | | | | | | | | | | | | | | | | | | | | |
| | | | | |
Net Assets, end of year ($ millions) | | | 54 | | | | 43 | | | | 29 | | | | 19 | | | | 12 | |
| | | | | |
Ratio of expenses before fee waiver (%) | | | 0.14 | | | | 0.14 | | | | 0.14 | | | | 0.14 | | | | 0.14 | |
| | | | | |
Ratio of expenses after fee waiver (%) | | | 0.14 | | | | 0.14 | | | | 0.14 | | | | 0.14 | | | | 0.14 | |
| | | | | |
Ratio of net investment income (loss) (%) | | | 2.59 | | | | 2.92 | | | | 3.04 | | | | 2.45 | | | | 2.39 | |
| | | | | |
Portfolio turnover rate (%)(c) | | | 12 | | | | 25 | | | | 22 | | | | 22 | | | | 16 | |
| (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. |
See Notes to Financial Statements.
68 | DBX ETF Trust
Financial Highlights (Continued)
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF
| | | | | | | | | | | | | | | | | | | | |
| | | Years Ended August 31, |
| | | 2024 | | 2023 | | 2022 | | 2021 | | 2020 |
| | | | | |
Selected Per Share Data | | | | | | | | | | | | | | | | | | | | |
| | | | | |
Net Asset Value, beginning of year | | $ | 23.80 | | | $ | 24.39 | | | $ | 33.60 | | | $ | 28.57 | | | $ | 24.70 | |
| | | | | |
Income (loss) from investment operations: | | | | | | | | | | | | | | | | | | | | |
| | | | | |
Net investment income (loss)(a) | | | 0.57 | | | | 0.53 | | | | 0.64 | | | | 0.49 | | | | 0.86 | |
| | | | | |
Net realized and unrealized gain (loss) | | | 2.87 | | | | (0.65 | ) | | | (9.14 | ) | | | 4.77 | | | | 4.07 | |
| | | | | |
Total from investment operations | | | 3.44 | | | | (0.12 | ) | | | (8.50 | ) | | | 5.26 | | | | 4.93 | |
| | | | | |
Less distributions from: | | | | | | | | | | | | | | | | | | | | |
| | | | | |
Net investment income | | | (0.56 | ) | | | (0.47 | ) | | | (0.71 | ) | | | (0.23 | ) | | | (1.06 | ) |
| | | | | |
Net realized gains | | | – | | | | – | | | | – | | | | – | | | | (0.00 | )(b) |
| | | | | |
Total from distributions | | | (0.56 | ) | | | (0.47 | ) | | | (0.71 | ) | | | (0.23 | ) | | | (1.06 | ) |
| | | | | |
Net Asset Value, end of year | | $ | 26.68 | | | $ | 23.80 | | | $ | 24.39 | | | $ | 33.60 | | | $ | 28.57 | |
| | | | | |
Total Return (%)(c) | | | 14.74 | | | | (0.51 | ) | | | (25.55 | ) | | | 18.43 | | | | 20.32 | |
| | | | | |
Ratios to Average Net Assets and Supplemental Data | | | | | | | | | | | | | | | | | | | | |
| | | | | |
Net Assets, end of year ($ millions) | | | 28 | | | | 25 | | | | 23 | | | | 25 | | | | 9 | |
| | | | | |
Ratio of expenses before fee waiver (%) | | | 0.20 | | | | 0.20 | | | | 0.20 | | | | 0.20 | | | | 0.20 | |
| | | | | |
Ratio of expenses after fee waiver (%) | | | 0.20 | | | | 0.20 | | | | 0.20 | | | | 0.20 | | | | 0.20 | |
| | | | | |
Ratio of net investment income (loss) (%) | | | 2.33 | | | | 2.21 | | | | 2.22 | | | | 1.48 | | | | 3.38 | |
| | | | | |
Portfolio turnover rate (%)(d) | | | 14 | | | | 23 | | | | 24 | | | | 26 | | | | 17 | |
| (a) | Based on average shares outstanding during the period. |
| (b) | Amount represents less than $0.005. |
| (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. |
See Notes to Financial Statements.
DBX ETF Trust | 69
Financial Highlights (Continued)
Xtrackers MSCI USA Climate Action Equity ETF
| | | | | | | | |
| | | Year Ended | | Period Ended |
| | | 8/31/2024 | | 8/31/2023(a) |
| | |
Selected Per Share Data | | | | | | | | |
| | |
Net Asset Value, beginning of period | | $ | 28.05 | | | $ | 25.00 | |
| | |
Income (loss) from investment operations: | | | | | | | | |
| | |
Net investment income (loss)(b) | | | 0.42 | | | | 0.17 | |
| | |
Net realized and unrealized gain (loss) | | | 7.32 | | | | 2.96 | |
| | |
Total from investment operations | | | 7.74 | | | | 3.13 | |
| | |
Less distributions from: | | | | | | | | |
| | |
Net investment income | | | (0.41 | ) | | | (0.08 | ) |
| | |
Net realized gains | | | (0.04 | ) | | | – | |
| | |
Total from distributions | | | (0.45 | ) | | | (0.08 | ) |
| | |
Net Asset Value, end of period | | $ | 35.34 | | | $ | 28.05 | |
| | |
Total Return (%)(c) | | | 27.85 | | | | 12.55 | ** |
| | |
Ratios to Average Net Assets and Supplemental Data | | | | | | | | |
| | |
Net Assets, end of period ($ millions) | | | 2,212 | | | | 2,275 | |
| | |
Ratio of expenses before fee waiver (%) | | | 0.07 | | | | 0.07 | * |
| | |
Ratio of expenses after fee waiver (%) | | | 0.07 | | | | 0.07 | * |
| | |
Ratio of net investment income (loss) (%) | | | 1.36 | | | | 1.57 | * |
| | |
Portfolio turnover rate (%)(d) | | | 20 | | | | 7 | ** |
| (a) | For the period April 4, 2023 (commencement of operations) through August 31, 2023. |
| (b) | Based on average shares outstanding during the period. |
| (c) | Total Return would have been lower if certain expenses had not been reimbursed by the Advisor. |
| (d) | Portfolio turnover rate does not include securities received or delivered from processing creations or redemptions. |
See Notes to Financial Statements.
70 | DBX ETF Trust
Financial Highlights (Continued)
Xtrackers MSCI USA ESG Leaders Equity ETF
| | | | | | | | | | | | | | | | | | | | |
| | | Years Ended August 31, |
| | | 2024 | | 2023 | | 2022 | | 2021 | | 2020 |
| | | | | |
Selected Per Share Data | | | | | | | | | | | | | | | | | | | | |
| | | | | |
Net Asset Value, beginning of year | | $ | 41.86 | | | $ | 35.87 | | | $ | 41.89 | | | $ | 31.84 | | | $ | 26.69 | |
| | | | | |
Income (loss) from investment operations: | | | | | | | | | | | | | | | | | | | | |
| | | | | |
Net investment income (loss)(a) | | | 0.58 | | | | 0.57 | | | | 0.53 | | | | 0.50 | | | | 0.51 | |
| | | | | |
Net realized and unrealized gain (loss) | | | 10.41 | | | | 6.04 | | | | (6.04 | ) | | | 10.05 | | | | 5.10 | |
| | | | | |
Total from investment operations | | | 10.99 | | | | 6.61 | | | | (5.51 | ) | | | 10.55 | | | | 5.61 | |
| | | | | |
Less distributions from: | | | | | | | | | | | | | | | | | | | | |
| | | | | |
Net investment income | | | (0.62 | ) | | | (0.62 | ) | | | (0.51 | ) | | | (0.50 | ) | | | (0.46 | ) |
| | | | | |
Total from distributions | | | (0.62 | ) | | | (0.62 | ) | | | (0.51 | ) | | | (0.50 | ) | | | (0.46 | ) |
| | | | | |
Net Asset Value, end of year | | $ | 52.23 | | | $ | 41.86 | | | $ | 35.87 | | | $ | 41.89 | | | $ | 31.84 | |
| | | | | |
Total Return (%)(b) | | | 26.52 | | | | 18.68 | | | | (13.29 | ) | | | 33.48 | | | | 21.42 | |
| | | | | |
Ratios to Average Net Assets and Supplemental Data | | | | | | | | | | | | | | | | | | | | |
| | | | | |
Net Assets, end of year ($ millions) | | | 1,045 | | | | 1,283 | | | | 3,060 | | | | 3,889 | | | | 2,666 | |
| | | | | |
Ratio of expenses before fee waiver (%) | | | 0.10 | | | | 0.10 | | | | 0.10 | | | | 0.10 | | | | 0.10 | |
| | | | | |
Ratio of expenses after fee waiver (%) | | | 0.09 | | | | 0.09 | | | | 0.09 | | | | 0.09 | | | | 0.09 | |
| | | | | |
Ratio of net investment income (loss) (%) | | | 1.26 | | | | 1.56 | | | | 1.32 | | | | 1.39 | | | | 1.83 | |
| | | | | |
Portfolio turnover rate (%)(c) | | | 7 | | | | 6 | | | | 6 | | | | 12 | | | | 9 | |
| (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. |
See Notes to Financial Statements.
DBX ETF Trust | 71
Financial Highlights (Continued)
Xtrackers Net Zero Pathway Paris Aligned US Equity ETF
| | | | | | | | | | | | |
| | | Years Ended August 31, | | Period Ended |
| | | 2024 | | 2023 | | 8/31/2022(a) |
| | | |
Selected Per Share Data | | | | | | | | | | | | |
| | | |
Net Asset Value, beginning of period | | $ | 29.00 | | | $ | 25.21 | | | $ | 25.00 | |
| | | |
Income (loss) from investment operations: | | | | | | | | | | | | |
| | | |
Net investment income (loss)(b) | | | 0.41 | | | | 0.39 | | | | 0.07 | |
| | | |
Net realized and unrealized gain (loss) | | | 7.62 | | | | 3.74 | | | | 0.14 | |
| | | |
Total from investment operations | | | 8.03 | | | | 4.13 | | | | 0.21 | |
| | | |
Less distributions from: | | | | | | | | | | | | |
| | | |
Net investment income | | | (0.39 | ) | | | (0.34 | ) | | | – | |
| | | |
Net realized gains | | | – | | | | (0.00 | )(c) | | | – | |
| | | |
Total from distributions | | | (0.39 | ) | | | (0.34 | ) | | | – | |
| | | |
Net Asset Value, end of period | | $ | 36.64 | | | $ | 29.00 | | | $ | 25.21 | |
| | | |
Total Return (%)(d) | | | 27.94 | | | | 16.60 | | | | 0.84 | ** |
| | | |
Ratios to Average Net Assets and Supplemental Data | | | | | | | | | | | | |
| | | |
Net Assets, end of period ($ millions) | | | 222 | | | | 148 | | | | 76 | |
| | | |
Ratio of expenses before fee waiver (%) | | | 0.10 | | | | 0.10 | | | | 0.10 | * |
| | | |
Ratio of expenses after fee waiver (%) | | | 0.10 | | | | 0.10 | | | | 0.10 | * |
| | | |
Ratio of net investment income (loss) (%) | | | 1.28 | | | | 1.49 | | | | 1.50 | * |
| | | |
Portfolio turnover rate (%)(e) | | | 11 | | | | 8 | | | | 11 | ** |
| (a) | For the period June 28, 2022 (commencement of operations) through August 31, 2022. |
| (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. |
See Notes to Financial Statements.
72 | DBX ETF Trust
Financial Highlights (Continued)
Xtrackers RREEF Global Natural Resources ETF
| | | | |
| | | Period Ended |
| | | 8/31/2024(a) |
| |
Selected Per Share Data | | | | |
| |
Net Asset Value, beginning of period | | $ | 25.00 | |
| |
Income (loss) from investment operations: | | | | |
| |
Net investment income (loss)(b) | | | 0.46 | |
| |
Net realized and unrealized gain (loss) | | | 1.72 | |
| |
Total from investment operations | | | 2.18 | |
| |
Less distributions from: | | | | |
| |
Net investment income | | | (0.28 | ) |
| |
Total from distributions | | | (0.28 | ) |
| |
Net Asset Value, end of period | | $ | 26.90 | |
| |
Total Return (%)(c) | | | 8.75 | ** |
| |
Ratios to Average Net Assets and Supplemental Data | | | | |
| |
Net Assets, end of period ($ millions) | | | 31 | |
| |
Ratio of expenses before fee waiver (%) | | | 0.45 | * |
| |
Ratio of expenses after fee waiver (%) | | | 0.45 | * |
| |
Ratio of net investment income (loss) (%) | | | 3.41 | * |
| |
Portfolio turnover rate (%)(d) | | | 49 | ** |
| (a) | For the period February 27, 2024 (commencement of operations) through August 31, 2024. |
| (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. |
See Notes to Financial Statements.
DBX ETF Trust | 73
Notes to Financial Statements
1. Organization
DBX ETF Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end registered management investment company organized as a Delaware statutory trust.
As of August 31, 2024, the Trust consists of thirty-nine 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 Climate Action Equity ETF
Xtrackers MSCI USA ESG Leaders Equity ETF
Xtrackers Net Zero Pathway Paris Aligned US Equity ETF
Xtrackers RREEF Global Natural Resources 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”), except Xtrackers RREEF Global Natural Resources ETF which offers shares that are listed and traded on the Nasdaq Stock Market (“NASDAQ”). 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 RREEF Global Natural Resources ETF which lots consists of 25,000 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 of the following Funds is to seek investment results that correspond generally to the performance, before fees and expenses, of a particular index (the “Underlying Index”). The underlying indices for the Funds are:
| | |
| Fund | | Underlying Index |
| Xtrackers 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 Climate Action Equity ETF | | MSCI USA Climate Action Index |
| Xtrackers MSCI USA ESG Leaders Equity ETF | | MSCI USA ESG Leaders Index |
| Xtrackers Net Zero Pathway Paris Aligned US Equity ETF | | Solactive ISS ESG United States Net Zero Pathway Enhanced Index |
The Solactive ISS Emerging Markets Carbon Reduction & Climate Improvers Index NTR (the “EMCR 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 EMCR Index is then weighted in such a manner seeking to align its constituents 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. Under normal circumstances, 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, as defined by the index provider. 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.
74 | DBX ETF Trust
The MSCI USA Climate Action Index is comprised of large and mid-capitalization companies in the United States that the Underlying Index’s methodology assesses as leading their sector peers in taking action relating to a climate transition. Under normal circumstances, the Underlying Index is rebalanced on a semi-annual basis, and reviewed and reweighted on an ongoing basis. 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.
The 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. Under normal circumstances, 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 Solactive ISS ESG United States Net Zero Pathway Enhanced Index is comprised of large and mid-capitalization companies in the United States that meet certain ESG criteria. The constituents of the Underlying Index are weighted in such a manner seeking to comply with the European Union Paris-aligned Benchmark standards, while incorporating recommendations of the Net Zero Investment Framework published, from time to time, by the Institutional Investors Group on Climate Change. Under normal circumstances, the Underlying Index is rebalanced semi-annually in February and August. The Fund rebalances its portfolio in accordance with the Underlying Index, and, therefore, any changes to the Underlying Index’s rebalance schedule will result in corresponding changes to the Fund’s rebalance schedule.
Each Fund is entitled to use its respective Underlying Index pursuant to a licensing agreement between its respective index provider and DBX. There is no direct charge to the Funds in connection with these licensing agreements.
Xtrackers RREEF Global Resources ETF “NRES” seeks total return from both capital appreciation and current income. NRES is an actively-managed exchange-traded fund (“ETF”) that does not seek to replicate the performance of a specific index. Under normal circumstances, NRES invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes (calculated at the time of any investment), in securities of companies in the natural resources sector.
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF, Xtrackers MSCI EAFE ESG Leaders Equity ETF and Xtrackers MSCI USA ESG Leaders Equity ETF are diversified series of the Trust. Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF, Xtrackers MSCI USA Climate Action Equity ETF, Xtrackers Net Zero Pathway Paris Aligned US Equity ETF and Xtrackers RREEF Global Natural Resources ETF are non-diversified and are not limited by the 1940 Act with regard to the percentage of its assets that may be invested in the securities of a single issuer. This means the securities of a particular issuer (or securities of issuers in particular industries) may dominate the Underlying Index of the Fund and, consequently, the Fund’s investment portfolio. This may adversely affect the Fund’s performance or subject the Fund’s shares to greater price volatility than that experienced by more diversified investment companies. Each Fund may change its diversification status over time and then change it back again, without shareholder approval, solely as a result of a change in relative market capitalization or index weighting of one or more constituents of the index each Fund tracks.
Pursuant to the Trust’s organizational documents, the Trust’s officers and trustees are indemnified against certain liabilities that may arise out of the performance of their duties to the Funds. Additionally, in the normal course of business the Trust enters into contracts that contain a variety of representations that provide indemnification for certain liabilities. The Trust’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Funds that have not yet occurred. However, the Trust expects the risk of loss to be remote.
2.Significant Accounting Policies
The financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”), which require management to make certain estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. Each Fund qualifies as an investment company under Topic 946 of the Accounting Standards Codification of U.S. GAAP. The following is a summary of significant accounting policies followed by the Funds.
Security Valuation The NAV of each Fund’s shares is calculated each business day as of the close of regular trading on the New York Stock Exchange, generally 4:00 p.m. Eastern Time. NAV per share is calculated by dividing a Fund’s net assets by the number of Fund shares outstanding.
DBX ETF Trust | 75
The Funds’ Board has designated the Advisor as the valuation designee for the Funds pursuant to Rule 2a-5 under the 1940 Act. The Advisor’s Pricing Committee (the “Pricing Committee”) typically values securities using readily available market quotations or prices supplied by independent pricing services (which are considered fair values under Rule 2a-5). The Advisor has adopted fair valuation procedures that provide methodologies for fair valuing securities.
Various inputs are used in determining the value of the Funds’ investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, and credit risk). Level 3 includes significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
Equity securities and ETFs are valued at the most recent sale price or official closing price reported on the exchange (U.S. or foreign) or over-the-counter market on which they trade. Securities or ETFs for which no sales are reported are valued at the calculated mean between the most recent bid and asked quotations on the relevant market or, if a mean cannot be determined, at the most recent bid quotation. Equity securities and ETFs are generally categorized as Level 1.
Corporate and sovereign debt securities are valued at prices supplied by independent pricing services approved by the Pricing Committee. Such services may use various pricing techniques which take into account appropriate factors such as yield, quality, coupon rate, maturity, type of issue, trading characteristics and other data, as well as broker quotes. If the pricing services are unable to provide valuations, securities are valued at the mean between the bid and ask quotations or evaluated prices, as applicable, obtained from broker-dealers. These securities are generally categorized as Level 2.
Investments in open-end investment companies are valued at their NAV each business day and are categorized as Level 1.
Futures contracts are generally valued at the settlement prices established each day on the exchange on which they are traded and are categorized as Level 1.
Securities and other assets for which market quotations are not readily available or for which the above valuation procedures are deemed not to reflect fair value are valued in a manner that is intended to reflect their fair value as determined in accordance with procedures approved by the Pricing Committee and are generally categorized as Level 3. In accordance with the Funds’ valuation procedures, factors considered in determining value may include, but are not limited to, the type of the security; the size of the holding; the initial cost of the security; the existence of any contractual restrictions on the security’s disposition; the price and extent of public trading in similar securities of the issuer or of comparable companies; quotations or evaluated prices from broker-dealers and/or pricing services; information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities); an analysis of the company’s or issuer’s financial statements; an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold; and with respect to debt securities, the maturity, coupon, creditworthiness, currency denomination and the movement of the market in which the security is normally traded. The value determined under these procedures may differ from published values for the same securities.
Fair value pricing could result in a difference between the prices used to calculate a Fund’s NAV and the prices used by the Fund’s Underlying Index, which in turn could result in a difference between the Fund’s performance and the performance of the Fund’s Underlying Index.
Disclosure about the classification of the fair value measurements is included in a table following the Fund’s Schedule of
Investments.
Cash. Cash consists of cash held at banks and is on deposit with major financial institutions.
Investment Transactions and Investment Income. Investment transactions are recorded as of the date that the securities are purchased or sold (trade date). Realized gains and losses from the sale or disposition of securities are calculated on the identified cost-method. Dividend income is net of any foreign taxes withheld at source. Certain dividends from foreign securities may be recorded subsequent to the ex-dividend date as soon as the fund is informed of such dividends. Interest income is recorded on the accrual basis. Distributions received from foreign domiciled corporations, generally determined to be passive foreign investment companies for tax reporting purposes, are included in dividend income.
Tax Information and Dividends and Distributions to Shareholders. It is each Fund’s policy to comply with all requirements of the Internal Revenue Code of 1986, as amended (“the Code”). Each Fund intends to qualify for and to elect treatment as a separate Regulated Investment Company (“RIC”) under Subchapter M of the Code. It is the policy of Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF, Xtrackers MSCI EAFE ESG Leaders Equity ETF and Xtrackers
76 | DBX ETF Trust
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 MSCI USA Climate Action Equity ETF, Xtrackers Net Zero Pathway Paris Aligned US Equity ETF and Xtrackers RREEF Global Natural Resources 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.
The Funds file tax returns with the Internal Revenue Service, the State of New York, and various other states. Specific to U.S. federal and state taxes, generally, each of the tax years in the four-year period ended August 31, 2024 (or since the Fund’s inception if the Fund commenced operations less than four years prior to August 31, 2024), remains subject to examination by taxing authorities. Specific to foreign countries in which the applicable Funds invest, all open tax years remain subject to examination by taxing authorities in the respective jurisdictions. The open tax years vary by each jurisdiction in which each Fund invests.
The Funds recognize interest and penalties, if any, related to uncertain tax positions as income tax expense on the Statements of Operations. For the year ended August 31, 2024, the Funds did not incur any interest or penalties.
As of August 31, 2024, the components of accumulated earnings (losses) on a tax basis were as follows:
| | | | | | | | | | | | | | | | | | | | |
| | | Undistributed Ordinary Income* | | Undistributed Long-Term Capital Gains | | Capital and Other Gains (Losses) | | Unrealized Appreciation (Depreciation) | | Total Accumulated Earnings (Losses) |
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | | $ | 2,420,336 | | | $ | — | | | $ | (80,324,552 | ) | | $ | (7,266,534 | ) | | $ | (85,170,750 | ) |
Xtrackers MSCI EAFE ESG Leaders Equity ETF | | | 317,447 | | | | — | | | | (2,214,332 | ) | | | 8,816,086 | | | | 6,919,201 | |
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | | | 401,222 | | | | — | | | | (3,399,961 | ) | | | 1,220,291 | | | | (1,778,448 | ) |
Xtrackers MSCI USA Climate Action Equity ETF | | | 6,006,303 | | | | — | | | | (158,307 | ) | | | 474,511,057 | | | | 480,359,053 | |
Xtrackers MSCI USA ESG Leaders Equity ETF | | | 2,640,543 | | | | — | | | | (70,296,771 | ) | | | 182,589,005 | | | | 114,932,777 | |
Xtrackers Net Zero Pathway Paris Aligned US Equity ETF | | | 553,047 | | | | — | | | | (1,383,880 | ) | | | 52,891,355 | | | | 52,060,522 | |
Xtrackers RREEF Global Natural Resources ETF | | | 351,015 | | | | 995 | | | | — | | | | 400,194 | | | | 752,204 | |
The tax character of dividends and distributions declared for the years ended August 31, 2024 and August 31, 2023 were as follows:
| | | | | | | | |
| | | Year Ended August 31, 2024 |
| | | Ordinary Income* | | Long Term Capital Gains |
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | | $ | 8,720,560 | | | $ | — | |
Xtrackers MSCI EAFE ESG Leaders Equity ETF | | | 1,250,289 | | | | — | |
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | | | 586,531 | | | | — | |
Xtrackers MSCI USA Climate Action Equity ETF | | | 32,457,740 | | | | 225,066 | |
Xtrackers MSCI USA ESG Leaders Equity ETF | | | 14,649,602 | | | | — | |
Xtrackers Net Zero Pathway Paris Aligned US Equity ETF | | | 2,136,306 | | | | — | |
Xtrackers RREEF Global Natural Resources ETF | | | 117,725 | | | | — | |
| | | | |
| | | Year Ended August |
| | | 31, 2023 |
| | | Ordinary Income* |
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | | $ | 12,833,632 | |
Xtrackers MSCI EAFE ESG Leaders Equity ETF | | | 957,399 | |
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | | | 495,191 | |
DBX ETF Trust | 77
| | | | |
| | | Year Ended August |
| | | 31, 2023 |
| | | Ordinary Income* |
Xtrackers MSCI USA Climate Action Equity ETF | | | 6,700,040 | |
Xtrackers MSCI USA ESG Leaders Equity ETF | | | 41,345,101 | |
Xtrackers Net Zero Pathway Paris Aligned US Equity ETF | | | 1,268,208 | |
| * | For tax purposes short-term capital gain distributions are considered ordinary income distributions. |
At August 31, 2024, 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 | | $ | 19,232,299 | | | $ | 61,092,253 | | | $ | 80,324,552 | |
Xtrackers MSCI EAFE ESG Leaders Equity ETF | | | 600,681 | | | | 1,613,651 | | | | 2,214,332 | |
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | | | 884,105 | | | | 2,515,856 | | | | 3,399,961 | |
Xtrackers MSCI USA ESG Leaders Equity ETF | | | 15,906,539 | | | | 54,390,232 | | | | 70,296,771 | |
Xtrackers Net Zero Pathway Paris Aligned US Equity ETF | | | 580,526 | | | | 803,354 | | | | 1,383,880 | |
Capital losses incurred after October 31 (“post-October capital losses”) and late year ordinary losses incurred after December
31 within the taxable year are deemed to arise on the first business day of each Fund’s next taxable year. During the fiscal year ended August 31, 2024, the following Funds incurred and will elect to defer post-October capital losses and late year ordinary losses as follows:
| | | | |
| | | Post-October |
| | | Losses on Capital |
Xtrackers MSCI USA Climate Action Equity ETF | | $ | 155,159 | |
For the fiscal year ended August 31, 2024, the effect of permanent “book/tax” reclassifications to the components of net assets are included below. These differences are primarily due to redemptions-in-kind.
| | | | | | | | |
| | | Distributable | | |
| | | earnings (loss) | | Paid-In Capital |
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | | $ | 8,796,047 | | | $ | (8,796,047 | ) |
Xtrackers MSCI EAFE ESG Leaders Equity ETF | | | (445,264 | ) | | | 445,264 | |
Xtrackers MSCI USA Climate Action Equity ETF | | | (232,386,756 | ) | | | 232,386,756 | |
Xtrackers MSCI USA ESG Leaders Equity ETF | | | (144,094,774 | ) | | | 144,094,774 | |
Xtrackers Net Zero Pathway Paris Aligned US Equity ETF | | | (7,068,665 | ) | | | 7,068,665 | |
As of August 31, 2024, 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:
| | | | | | | | | | | | | | | | |
| | | | | Net Unrealized | | Aggregate Gross | | Aggregate Gross |
| | | | | Appreciation | | Unrealized | | Unrealized |
| | | Aggregate Tax Cost | | (Depreciation) | | Appreciation | | (Depreciation) |
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | | $ | 101,211,410 | | | $ | (6,378,342 | ) | | $ | 15,741,994 | | | $ | (22,120,336 | ) |
Xtrackers MSCI EAFE ESG Leaders Equity ETF | | | 45,008,834 | | | | 8,808,795 | | | | 10,951,665 | | | | (2,142,870 | ) |
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | | | 26,950,148 | | | | 1,444,498 | | | | 5,796,995 | | | | (4,352,497 | ) |
Xtrackers MSCI USA Climate Action Equity ETF | | | 1,731,675,833 | | | | 474,511,057 | | | | 509,457,751 | | | | (34,946,694 | ) |
Xtrackers MSCI USA ESG Leaders Equity ETF | | | 857,744,827 | | | | 182,589,005 | | | | 238,747,591 | | | | (56,158,586 | ) |
Xtrackers Net Zero Pathway Paris Aligned US Equity ETF | | | 169,097,719 | | | | 52,891,355 | | | | 56,392,925 | | | | (3,501,570 | ) |
Xtrackers RREEF Global Natural Resources ETF | | | 30,501,161 | | | | 397,452 | | | | 704,189 | | | | (306,737 | ) |
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
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foreign currency transactions are included in their respective net realized gain (loss) categories, and deferred foreign taxes on unrealized gains are included in net change in unrealized appreciation (depreciation). Receivables and payables related to foreign taxes as of August 31, 2024, 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. National Financial Services LLC (Fidelity Agency Lending) serves as securities lending agent for Xtrackers MSCI EAFE ESG Leaders Equity ETF, Xtrackers Net Zero Pathway Paris Aligned US Equity ETF and Xtrackers MSCI USA Climate Action Equity ETF and lends securities to certain financial institutions under the terms of its securities lending agreements. Prior to September 27, 2023, the Bank of New York Mellon served as securities lending agent for Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF, Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF and Xtrackers MSCI USA ESG Leaders Equity ETF. Effective September 27, 2023, Deutsche Bank AG serves as securities lending agent for Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF, Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF and Xtrackers MSCI USA ESG Leaders Equity ETF and lends securities to certain financial institutions under the terms of its securities lending agreements. 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 or liquid, unencumbered assets having a value at least equal to the value of the securities loaned. When the collateral falls below specified amounts, the securities lending agent will use its best effort to obtain additional collateral on the next business day to meet required amounts under the securities lending agreement. During the year ended August 31, 2024, the Funds invested the cash collateral, if any, into a joint trading account in affiliated money market funds, including DWS Government & Agency Securities Portfolio, managed by DWS Investment Management Americas, Inc. DWS Investment Management Americas, Inc. receives a management/ administration fee (0.13% annualized effective rate as of August 31, 2024) on the cash collateral invested in DWS Government & Agency Securities Portfolio. The Funds receive compensation for lending their securities either in the form of fees or by earning interest on invested cash collateral, net of borrower rebates and fees paid to a securities lending agent. Either the Funds or the borrower may terminate the loan at any time and the borrower, after notice, is required to return borrowed securities within a standard time period. There may be risks of delay and costs in recovery of securities or even loss of rights in the collateral should the borrower of the securities fail financially. If the Funds are not able to recover securities lent, the Funds may sell the collateral and purchase a replacement investment in the market, incurring the risk that the value of the replacement security is greater than the value of the collateral. The Funds are also subject to all investment risks associated with the reinvestment of any cash collateral received, including, but not limited to, interest rate, credit and liquidity risk associated with such investments.
As of August 31, 2024, the Funds listed below had securities on loan. The value of the related collateral exceeded the value of the securities loaned at period end.
| | | | | | | | | | | | | | | | | | | | |
| Remaining Contractual Maturity of the Agreements, as of August 31, 2024 | | | | | | | | | | | | |
| | | Overnight | | | | | | Between | | | | | | |
| | | and | | | | | | 30 & 90 | | | | | | |
| Securities Lending Transactions | | Continuous | | | <30 Days | | | Days | | | >90 Days | | | Total |
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | | | | | | | | | | | | | | | | | |
Common Stocks | | $ | 89,242 | | | $ | — | | | $ | — | | | $ | — | | | $ | 89,242 | |
Gross amount of recognized liabilities and cash collateral for securities lending transactions | | | | | | | $ | 89,242 | |
Xtrackers MSCI EAFE ESG Leaders Equity ETF | | | | | | | | | | | | | | | | | | | | |
Common Stocks | | $ | 25,353 | | | $ | — | | | $ | — | | | $ | — | | | $ | 25,353 | |
Exchange-Traded Funds | | $ | 58,345 | | | $ | — | | | $ | — | | | $ | — | | | $ | 58,345 | |
Total Borrowings | | $ | 83,698 | | | $ | — | | | $ | — | | | $ | — | | | $ | 83,698 | |
Gross amount of recognized liabilities and cash collateral for securities lending transactions | | | $ | 83,698 | |
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | | | | | | | | | | | | | | | | | | | | |
Common Stocks | | $ | 34,336 | | | $ | — | | | $ | — | | | $ | — | | | $ | 34,336 | |
Gross amount of recognized liabilities and cash collateral for securities lending transactions | | | | | | | | | | | $ | 34,336 | |
DBX ETF Trust | 79
| | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| | | | | |
Xtrackers MSCI USA ESG Leaders Equity ETF | | | | | | | | | | | | | | | | | | | | |
Common Stocks | | $ | 354,960 | | | $ | — | | | $ | — | | | $ | — | | | $ | 354,960 | |
Gross amount of recognized liabilities and cash collateral for securities lending transactions | | | | | | | | | | | $ | 354,960 | |
| | | | | |
Xtrackers Net Zero Pathway Paris Aligned US Equity ETF | | | | | | | | | | | | | | | | | | | | |
Common Stocks | | $ | 220,674 | | | $ | — | | | $ | — | | | $ | — | | | $ | 220,674 | |
Exchange-Traded Funds | | $ | 291,776 | | | $ | — | | | $ | — | | | $ | — | | | $ | 291,776 | |
Total Borrowings | | $ | 512,450 | | | $ | — | | | $ | — | | | $ | — | | | $ | 512,450 | |
Gross amount of recognized liabilities and cash collateral for securities lending transactions | | | | | | | $ | 512,450 | |
Derivatives
Futures Contracts. Each Fund may enter into futures contracts. For each fund, except, Xtrackers RREEF Global Natural Resources ETF, these futures contracts will be used to simulate investment in the respective Underlying Index, to facilitate trading or to reduce transaction costs. For Xtrackers RREEF Global Natural Resources ETF these futures will be used for liquidity purposes. Each Fund will enter into futures contracts that are traded on a U.S. or non-U.S. exchange. No Fund will use futures for speculative purposes. Futures contracts provide for the future sale by one party and purchase by another party of a specified amount of a specific instrument or index at a specified future time and at a specified price. For the year ended August 31, 2024, 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 Climate Action Equity ETF, Xtrackers MSCI USA ESG Leaders Equity ETF and Xtrackers Net Zero Pathway Paris Aligned US Equity ETF utilized futures in order to simulate investment in the Funds’ Underlying Index. To the extent required by law, liquid assets committed to futures contracts will be maintained.
At the time each Fund enters into a futures contract, each Fund deposits and maintains as collateral an initial margin with the broker, as required by the exchange on which the transaction is affected. Pursuant to the contract, each Fund agrees to receive from or pay to the broker an amount of cash equal to the daily fluctuation in the value of the contract. Such receipts or payments are known as variation margin and are recorded by each Fund as unrealized gains or losses. Risks may arise from the potential inability of a counterparty to meet the terms of the contract. The credit/counterparty risk for exchange-traded futures contracts is generally less than privately negotiated futures contracts, since the clearinghouse, which is the issuer or counterparty to each exchange-traded future, provides a guarantee of performance. The guarantee is supported by a daily payment system (i.e., margin requirements).
Use of long futures contracts subjects each Fund to risk of loss in excess of the amounts shown on the Statement of Assets and Liabilities, up to the notional value of the futures contracts. Use of short futures contracts subjects each Fund to unlimited risk of loss. Under some circumstances, futures exchanges may establish daily limits on the amount that the price of a futures contract can vary from the previous day’s settlement price, which could effectively prevent liquidation of unfavorable positions.
A summary of the open futures contracts as of August 31, 2024 is included in a table following the Funds’ Schedule of Investments.
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The following tables summarize the value of the Funds’ derivative instruments held as of August 31, 2024 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* | | $ | 27,570 | | | Unrealized depreciation on futures contracts* | | $ | — | |
| | | Total | | $ | 27,570 | | | Total | | $ | — | |
| | | | | | | | | | | | |
Xtrackers MSCI EAFE ESG Leaders Equity ETF | | | | |
Equity contracts | | Unrealized appreciation on futures contracts* | | $ | 6,068 | | | Unrealized depreciation on futures contracts* | | $ | 3,465 | |
| | | Total | | $ | 6,068 | | | Total | | $ | 3,465 | |
| | | | | | | | | | | | |
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | | | | |
Equity contracts | | Unrealized appreciation on futures contracts* | | $ | 50 | | | Unrealized depreciation on futures contracts* | | $ | — | |
| | | Total | | $ | 50 | | | Total | | $ | — | |
| | | | | | | | | | | | |
Xtrackers MSCI USA Climate Action Equity ETF | | | | |
Equity contracts | | Unrealized appreciation on futures contracts* | | $ | 118,432 | | | Unrealized depreciation on futures contracts* | | $ | — | |
| | | Total | | $ | 118,432 | | | Total | | $ | — | |
| | | | | | | | | | | | |
Xtrackers MSCI USA ESG Leaders Equity ETF | | | | |
Equity contracts | | Unrealized appreciation on futures contracts* | | $ | 35,206 | | | Unrealized depreciation on futures contracts* | | $ | — | |
| | | Total | | $ | 35,206 | | | Total | | $ | — | |
| | | | | | | | | | | | |
Xtrackers Net Zero Pathway Paris Aligned US Equity ETF | | | | |
Equity contracts | | Unrealized appreciation on futures contracts* | | $ | 6,112 | | | Unrealized depreciation on futures contracts* | | $ | — | |
| | | Total | | $ | 6,112 | | | Total | | $ | — | |
| * | Futures contracts are reported in the table above using cumulative appreciation or cumulative depreciation of futures contracts, as reported in the futures contracts table following each Fund’s Schedule of Investments; within the Statement of Assets and Liabilities, the variation margin at period end is reported as Receivable (Payable) variation margin on futures contracts. |
Additionally, the amount of realized and unrealized gains and losses on derivative instruments recognized in the Funds’ earnings during the year ended August 31, 2024 and the related location in the accompanying Statement of Operations is summarized in the following tables by primary underlying risk exposure:
| | | | |
| | | Futures Contracts |
| Net Realized Gain (Loss) from: | | — Equity Contracts |
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | | $ | 326,605 | |
Xtrackers MSCI EAFE ESG Leaders Equity ETF | | | 14,187 | |
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | | | 2,357 | |
Xtrackers MSCI USA Climate Action Equity ETF | | | 892,735 | |
Xtrackers MSCI USA ESG Leaders Equity ETF | | | 755,895 | |
Xtrackers Net Zero Pathway Paris Aligned US Equity ETF | | | 90,786 | |
| | | |
| | | Futures Contracts |
| Net Change in Unrealized Appreciation (Depreciation) on: | | — Equity Contracts |
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | | $ | 70,558 | |
Xtrackers MSCI EAFE ESG Leaders Equity ETF | | | 948 | |
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | | | (485 | ) |
Xtrackers MSCI USA Climate Action Equity ETF | | | (24,756 | ) |
Xtrackers MSCI USA ESG Leaders Equity ETF | | | (77,061 | ) |
Xtrackers Net Zero Pathway Paris Aligned US Equity ETF | | | 4,882 | |
DBX ETF Trust | 81
For the year ended August 31, 2024 the average monthly volume of derivatives was as follows:
| | | | |
| | | Futures Contracts |
| | | (Contract Value) |
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | | $ | 3,624,572 | |
Xtrackers MSCI EAFE ESG Leaders Equity ETF | | | 226,378 | |
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | | | 59,606 | |
Xtrackers MSCI USA Climate Action Equity ETF | | | 12,586,272 | |
Xtrackers MSCI USA ESG Leaders Equity ETF | | | 3,526,875 | |
Xtrackers Net Zero Pathway Paris Aligned US Equity ETF | | | 372,726 | |
Affiliated Cash Management Vehicles. The Funds may invest uninvested cash balances in DWS Government Money Market Series, an affiliated money market fund managed by DWS Investment Management Americas, Inc. (“DIMA”), also an indirect, wholly owned subsidiary of DWS Group GmbH & Co. KGaA. DWS Government Money Market Series 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 and seeks to maintain a stable net asset value. The Funds indirectly bear their proportionate share of the expenses of their investment in DWS Government Money Market Series. 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 DWS Government Money Market Series.
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.
RREEF America L.L.C. (“RREEF”) an affiliate of the Advisor serves as the Sub-Advisor to the Xtrackers RREEF Global Natural
Resources ETF. The Sub-Advisor is responsible for day-to-day management of the Fund, subject to supervision of the Advisor.
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 (through August 12, 2024 for the Xtrackers MSCI USA ESG Leaders Equity ETF), 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 Climate Action Equity ETF | | | 0.07 | % |
Xtrackers MSCI USA ESG Leaders Equity ETF | | | 0.10 | % |
Xtrackers Net Zero Pathway Paris Aligned US Equity ETF | | | 0.10 | % |
Xtrackers RREEF Global Natural Resources ETF | | | 0.45 | % |
Effective August 13, 2024, for its investment advisory services to the Fund below, the Advisor was entitled to receive a unitary advisory fee based on the Fund’s average daily net assets, computed and accrued daily and payable monthly, at an annual rate equal to:
| | | | |
| | | Unitary Advisory |
| | | Fee |
Xtrackers MSCI USA ESG Leaders Equity ETF | | | 0.09 | % |
For the period September 1, 2023 through August 12, 2024, the Advisor for the Xtrackers MSCI USA ESG Leaders Equity ETF had 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 nine basis points of the Fund’s average daily net assets. For the year ended August 31, 2024, the Advisor waived $103,584 of expenses to the Fund.
82 | DBX ETF Trust
The Advisor for the Funds below has contractually agreed to waive a portion of its unitary advisory fee in an amount equal to the acquired fund’s fees and expenses attributable to the Funds’ investments in affiliated Funds. For the year ended August 31, 2024, the Advisor waived expenses of the Funds as follows:
| | | | |
| | | Expenses Waived |
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | | $ | 3,739 | |
Xtrackers MSCI EAFE ESG Leaders Equity ETF | | | 56 | |
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | | | 50 | |
Xtrackers MSCI USA Climate Action Equity ETF | | | 4,337 | |
Xtrackers MSCI USA ESG Leaders Equity ETF | | | 3,612 | |
Xtrackers Net Zero Pathway Paris Aligned US Equity ETF | | | 443 | |
Xtrackers RREEF Global Natural Resources ETF | | | 61 | |
Out of the unitary advisory fee, the Advisor pays substantially all expenses of each Fund, including the cost of transfer agency, custody, fund administration, legal, audit and other services, and expenses of the Independent Trustees. Each Fund is responsible for the payment of interest expense, acquired fund fees and expenses, taxes, brokerage expenses, distribution fees or expenses, if any, litigation expenses and extraordinary expenses.
The Bank of New York Mellon, a wholly-owned subsidiary of The Bank of New York Mellon Corporation, serves as Administrator, Custodian, Accounting Agent and Transfer Agent for each Fund.
ALPS Distributors, Inc. (the “Distributor”) serves as the distributor of Creation Units for each Fund on an agency basis. The Distributor does not maintain a secondary market in shares of the Funds.
The Board of Trustees is currently comprised of three Independent Trustees. The Advisor paid retainer fees and attendance fees to each Independent Trustee; retainer fees to the Chairman of the Board of Trustees and Chairman of the Audit Committee; and attendance fees to each member of the Audit Committee (which is comprised of all of the Funds’ Independent Trustees).
Affiliated Securities Lending Agent Fees. Effective September 27, 2023, Deutsche Bank AG serves as securities lending agent for the funds listed below. For the period ended August 31, 2024, the Funds incurred securities lending agent fees to Deutsche Bank AG as follows:
| | | | |
| | | Securities Lending |
| | | Agent Fees |
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | | $ | 761 | |
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | | | 14 | |
Xtrackers MSCI USA ESG Leaders Equity ETF | | | 2,085 | |
4. Investment Portfolio Transactions
For the year ended August 31, 2024, 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 | | $ | 346,026,330 | | | $ | 637,980,272 | |
Xtrackers MSCI EAFE ESG Leaders Equity ETF | | | 7,339,498 | | | | 5,801,239 | |
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | | | 3,497,469 | | | | 3,528,726 | |
Xtrackers MSCI USA Climate Action Equity ETF | | | 412,029,509 | | | | 421,882,716 | |
Xtrackers MSCI USA ESG Leaders Equity ETF | | | 75,408,813 | | | | 75,380,616 | |
Xtrackers Net Zero Pathway Paris Aligned US Equity ETF | | | 19,069,641 | | | | 19,015,277 | |
Xtrackers RREEF Global Natural Resources ETF | | | 9,705,132 | | | | 6,835,763 | |
DBX ETF Trust | 83
For the year ended August 31, 2024, 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 | | $ | 55,396,935 | | | $ | 215,608,053 | |
Xtrackers MSCI EAFE ESG Leaders Equity ETF | | | 2,916,594 | | | | 1,552,704 | |
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | | | — | | | | — | |
Xtrackers MSCI USA Climate Action Equity ETF | | | 575,110,507 | | | | 1,113,067,628 | |
Xtrackers MSCI USA ESG Leaders Equity ETF | | | 189,286,298 | | | | 656,956,419 | |
Xtrackers Net Zero Pathway Paris Aligned US Equity ETF | | | 45,639,833 | | | | 14,674,399 | |
Xtrackers RREEF Global Natural Resources ETF | | | 27,362,311 | | | | — | |
5. Fund Share Transactions
As of August 31, 2024, 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. Payments by Affiliates
During the year ended August 31, 2024, the Advisor and the securities lending agent, Deutsche Bank AG, agreed to reimburse the Funds and amounts below for securities lending income in connection to an operational delay with the lending agent transition (see Securities Lending note 2.)
The amounts reimbursed were less than 0.01% of the Funds’ average net assets, thus having no impact on the Funds’ total return.
| | | | |
| DBX Advisors LLC | | Amount |
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | | $ | 6,765 | |
Xtrackers MSCI USA ESG Leaders Equity ETF | | | 5,779 | |
| | | | |
| Deutsche Bank AG | | Amount |
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | | $ | 3,383 | |
Xtrackers MSCI USA ESG Leaders Equity ETF | | | 2,890 | |
During the year ended August 31, 2024, the Advisor agreed to reimburse Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF $1,394 for losses on trades executed incorrectly and $519 for interest. The amount compensated was less than 0.01% of the Fund’s average net assets, thus having no impact on the Fund’s total return.
7. Investing in Emerging Markets
Investing in emerging markets may involve special risks and considerations not typically associated with investing in developed markets. These risks include revaluation of currencies, high rates of inflation or deflation, repatriation restrictions on income and capital, and future adverse political, social and economic developments. Moreover, securities issued in these markets may be less liquid, subject to government ownership controls or delayed settlements, and may have prices that are more volatile or less easily assessed than those of comparable securities of issuers in developed markets. There is also substantially less publicly available information about emerging market issuers than there is about issuers in developed countries. Therefore, disclosure of certain material information may not be made, and less information may be available to the Funds and other investors than would be the case if the Funds’ investments were restricted to securities of issuers in developed countries. Investments in emerging markets are often considered speculative.
84 | DBX ETF Trust
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 or regulatory limitations; restrictions on foreign ownership which require U.S. investors to invest in offshore special purpose companies to obtain indirect exposure to Chinese issuers; custody risks associated with investing through Stock Connect, a Qualified Foreign Investor (“QFI”) 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; different and less stringent financial reporting standards; and increased political pressure from the U.S. and other countries to restrict the ability of investors outside China to invest in Chinese issuers.
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 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 Secured Overnight Financing Rate plus .10%. Each Fund may borrow up to the lesser of 33 percent of its net assets as permitted by the 1940 Act or 25 percent of adjusted total net assets. The Funds had no outstanding loans at August 31, 2024.
9. Concentration of Ownership
From time to time, the Funds may have a concentration of several shareholder accounts holding a significant percentage of shares outstanding. Investment activities of these shareholders could have a material impact on the Fund. At August 31,
2024, there was one affiliated shareholder account for the fund listed below holding a significant percentage of the shares outstanding:
| | | | | | | | |
| | | Approximate | | | |
| | | Percent of | | | |
| | | Outstanding | | | |
| | | Shares Held | | | |
Xtrackers RREEF Global Natural Resources ETF | | | 35% | | | | | |
10. Name and Strategy Change
Effective on or about November 4, 2024 (the “Effective Date”), Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF will change its name to Xtrackers MSCI Emerging Markets Climate Selection ETF, and the Fund’s ticker symbol will change from EMSG to EMCS. At that time, the Fund will change its current investment objective of seeking investment results that correspond generally to the performance, before fees and expenses, of the MSCI Emerging Markets ESG Leaders Index, to seeking investment results that correspond generally to the performance, before the Fund’s fees and expenses, of the MSCI Global Climate 500 Emerging Markets Selection Index. In addition, as of the Effective Date, the Advisor has agreed, until December 31, 2025, to waive a portion of its management fees and/or reimburse 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 0.15% of the Fund’s average daily net assets.
DBX ETF Trust | 85
Report of Independent Registered Public Accounting Firm
To the Shareholders of
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 Net Zero Pathway Paris Aligned US Equity ETF, Xtrackers MSCI USA Climate Action Equity ETF and Xtrackers RREEF Global Natural Resources ETF, and the Board of Trustees of DBX ETF Trust
Opinion on the Financial Statements
We have audited the accompanying statements of assets and liabilities of Xtrackers 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 Net Zero Pathway Paris Aligned US Equity ETF, and Xtrackers MSCI USA Climate Action Equity ETF, Xtrackers RREEF Global Natural Resources ETF (collectively referred to as the “Funds”), (seven of the funds constituting DBX ETF Trust (the “Trust”)), including the schedules of investments, as of August 31, 2024, and the related statements of operations and changes in net assets, and the financial highlights for each of the periods indicated in the table below and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds (seven of the funds constituting DBX ETF Trust) at August 31, 2024, and the results of their operations, changes in net assets and financial highlights for each of the periods indicated in the table below, in conformity with U.S. generally accepted accounting principles.
| | | | | | |
| Individual fund constituting the DBX ETF Trust | | Statement of operations | | Statements of changes in net assets | | Financial highlights |
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF Xtrackers MSCI EAFE ESG Leaders Equity ETF Xtrackers MSCI USA ESG Leaders Equity ETF | | For the year ended August 31, 2024 | | For each of the two years in the period ended August 31, 2024 | | For each of the five years in the period ended August 31, 2024 |
| Xtrackers Net Zero Pathway Paris Aligned US Equity ETF | | For the year ended August 31, 2024 | | For each of the two years in the period ended August 31, 2024 | | For each of the two years in the period ended August 31, 2024 and the period from June 28, 2022 (commencement of operations) through August 31, 2022 |
| Xtrackers MSCI USA Climate Action Equity ETF | | For the year ended August 31, 2024 | | For the year ended August 31, 2024 and the period from April 4, 2023 (commencement of operations) through August 31, 2023 |
| Xtrackers RREEF Global Natural Resources ETF | | For the period from February 27, 2024 (commencement of operations) through August 31, 2024 |
Basis for Opinion
These financial statements are the responsibility of the Trust’s management. Our responsibility is to express an opinion on each of the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Trust in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
86 | DBX ETF Trust
Report of Independent Registered Public Accounting Firm (Continued)
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Trust is not required to have, nor were we engaged to perform, an audit of the Trust’s internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Trust’s internal control over financial reporting. Accordingly, we express no such opinion.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of August 31, 2024, by correspondence with the custodian, brokers and others; when replies were not received from brokers and others, we performed other auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.
We have served as the auditor of one or more investment companies in the DWS family of funds since at least 1979, but we are unable to determine the specific year.
New York, New York
October 24, 2024
DBX ETF Trust | 87
Board Considerations in Approval of Investment Advisory Contracts (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 Climate Action Equity ETF, Xtrackers MSCI USA ESG Leaders Equity ETF and Xtrackers Net Zero Pathway Paris Aligned US Equity 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 14-15, 2024 (the “February
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, and Xtrackers Net Zero Pathway Paris Aligned US Equity ETF (each a “Fund,” and collectively, the “Funds”). In addition, after discussions at the meeting of the Board of Trustees (“Board” or “Trustees”) held on May 8, 2024 (the “May Meeting”), the Trustees unanimously approved the continuance of the Investment Advisory Agreements for each Fund for a new annual period ending on May 31, 2025. At the May Meeting the Board also unanimously approved the continuance of the Investment Advisory Agreement for an annual period ending on May 31, 2025 with respect to the following Fund which was not subject to approval at the February Meeting: Xtrackers MSCI USA Climate Action Equity ETF. The Independent Trustees were advised throughout the review and Meetings 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 February 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 applicable Fund’s tracking error as compared to its underlying index over the previous five years (or since inception, if shorter). The Independent Trustees met with representatives of the Advisor on February 14, 2024 to review financial reports and other information provided by the Advisor and inquire further with regard to the financial information provided, and asked questions of the Advisor during this meeting. The Independent Trustees also took into consideration the discussions they had with management before and during the Meeting and among themselves during their Executive Sessions held during the February Meeting and May Meeting including confirmation at the May Meeting from the Advisor that there had been no material changes to the information presented to the Board in connection with the approval of the Investment Advisory Agreement at the February Meeting.
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
88 | DBX ETF Trust
Board Considerations in Approval of Investment Advisory Contracts (Unaudited)(Continued)
to the information the Advisor had provided in response to the Board’s requests prior to the Meeting. The Board considered that these services include, among other things, furnishing a continuous investment program for the Funds, including arranging for, or implementing, the purchase and sale of portfolio securities, the provision of general corporate services such as portfolio management compliance services and the preparation and filing of certain reports on behalf of the Trust. The Board also considered, among other things, the professional experience, qualifications and performance of the senior management and key professional personnel of the Advisor, including portfolio management.
The Board considered that the Advisor provides, at its own expense, office facilities and equipment for use by the Funds and supervisory persons responsible for supervising and monitoring the Trust’s service providers. 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 applicable 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 applicable Fund during the year was in an expected range.
Based on its review, the Board concluded that the nature, extent, and quality of services provided by the Advisor under the Investment Advisory Agreement are reasonable and appropriate in relation to the fees paid to the Advisor, taking special consideration of the fact that the advisory fee is a unitary fee and, as a result, a portion of the unitary advisory fee will be used to compensate the Funds’ service providers. The Board considered the staffing of the Advisor, including the training, qualifications and experience of investment personnel in managing the Funds. The Board also considered the expertise of the Advisor in supervising third party service providers to the Funds, such as the administrator and the custodian, noting the Advisor’s extensive work with these service providers (including onsite due diligence sessions) to conduct such supervision. The Board further considered the compliance program of the Advisor, which supports the Funds’ compliance program.
Advisor’s Financial Resources. In connection with the assessment of the ability of the Advisor to perform its duties under the Investment Advisory Agreement, the Board considered the Advisor’s financial condition and whether it has the resources necessary to carry out its functions. The Board concluded that the Advisor has the financial resources necessary to perform its obligations under the Investment Advisory Agreement.
Reasonableness of Advisory Fee. The Board compared each Fund’s advisory fee and total expenses to those of the other ETFs in its Peer Group. The Board noted that due to the special characteristics of certain Funds, there were limitations faced by Broadridge in providing comparable funds in the Peer Groups and the information in the Broadridge reports accordingly may or may not provide meaningful direct comparisons to the Funds. The Board also noted that the advisory fees and total expenses (after waivers/reimbursements) for the Funds were below or equal to the average and/or median of the ETFs in each Fund’s respective Peer Group compiled by Broadridge.
The Board accordingly noted that each Fund’s fee is competitive with the fees of applicable peer ETFs.
The Board considered that the fee for each of the Funds is a unitary fee pursuant to which the Advisor pays all of the Funds’ costs (subject to certain specified exceptions). The Board considered that each Fund’s fee had been priced to scale when it was established. The Board also considered that each Fund’s portfolio is managed on a day-to-day basis by the Advisor and that the Advisor also provides oversight of day-to-day operations, including monitoring tracking error, providing services in connection with creation and redemption units and assistance in meeting legal and regulatory requirements applicable to the Funds. Based on its review, the Board concluded that the advisory fee for each Fund is reasonable in light of the services provided.
Costs of Services and Profitability. The Board considered the expenses of the Advisor in developing and rendering services provided to the Funds and the information provided by the Advisor to the Board regarding the Funds’ profitability. The Board considered that the Advisor had provided extensive information about the Advisor’s profitability and the Advisor’s methodology in determining profitability. While the Advisor had provided information about the Advisor’s expenses relating
DBX ETF Trust | 89
Board Considerations in Approval of Investment Advisory Contracts (Unaudited)(Continued)
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. The Board also acknowledged that the concept of economies of scale is a complex subject as to determining with a fair degree of certainty whether economies of scale exist, to what extent they exist, whether scale can result in additional expenses, and alternative ways advisors can share benefits of economies of scale.
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.
90 | DBX ETF Trust
Tax Information (Unaudited)
Form 1099-DIV and other year-end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisors.
Each Fund designates the following amounts or, if subsequently determined to be different, the maximum allowable for its period ended August 31, 2024.
| | | | | | | | |
| | | Qualified Dividend
Income* | | Dividends
Received
Reduction* |
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | | | 82 | % | | | — | % |
Xtrackers MSCI EAFE ESG Leaders Equity ETF | | | 100 | % | | | — | % |
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | | | 72 | % | | | — | % |
Xtrackers MSCI USA Climate Action Equity ETF | | | 94 | % | | | 91 | % |
Xtrackers MSCI USA ESG Leaders Equity ETF | | | 100 | % | | | 98 | % |
Xtrackers Net Zero Pathway Paris Aligned US Equity ETF | | | 100 | % | | | 95 | % |
Xtrackers RREEF Global Natural Resources ETF | | | 46 | % | | | 5 | % |
| * | The above percentage is based on ordinary income dividends paid to shareholders during each Fund’s fiscal year. |
Each Fund intends to elect to pass through to shareholders the credit for taxes paid to foreign countries. The gross foreign source income and foreign taxes paid are as follows:
| | | | | | | | |
| | | Gross Foreign
Income | | Foreign Taxes Paid |
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | | $ | 9,229,436 | | | $ | 1,090,714 | |
Xtrackers MSCI EAFE ESG Leaders Equity ETF | | | 1,422,267 | | | | 137,152 | |
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | | | 727,869 | | | | 84,560 | |
Xtrackers RREEF Global Natural Resources ETF | | | 190,358 | | | | 11,023 | |
DBX ETF Trust | 91
Xtrackers S&P 500 ESG ETF (SNPE)
Xtrackers S&P 500 Growth ESG ETF (SNPG)
Xtrackers S&P 500 Value ESG ETF (SNPV)
Xtrackers S&P ESG Dividend Aristocrats ETF (SNPD)
Xtrackers S&P MidCap 400 ESG ETF (MIDE)
Table of Contents
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.
DBX ETF Trust | 1
Schedule of Investments
Xtrackers S&P 500 ESG ETF
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
COMMON STOCKS — 99.7% | | | | | | | | |
| | |
Communication Services — 7.1% | | | | | | | | |
| | |
Alphabet, Inc., Class A | | | 242,333 | | | | 39,592,366 | |
| | |
Alphabet, Inc., Class C | | | 201,694 | | | | 33,301,696 | |
| | |
AT&T, Inc. | | | 295,730 | | | | 5,885,027 | |
| | |
Comcast Corp., Class A | | | 162,140 | | | | 6,415,880 | |
| | |
Electronic Arts, Inc. | | | 9,952 | | | | 1,510,913 | |
| | |
Interpublic Group of Cos., Inc. | | | 14,435 | | | | 470,725 | |
| | |
News Corp., Class A | | | 16,454 | | | | 466,142 | |
| | |
News Corp., Class B | | | 5,062 | | | | 148,975 | |
| | |
Omnicom Group, Inc. | | | 8,753 | | | | 879,064 | |
| | |
Paramount Global, Class B (a) | | | 20,705 | | | | 216,781 | |
| | |
Take-Two Interactive Software, Inc. * | | | 6,443 | | | | 1,041,897 | |
| | |
T-Mobile US, Inc. | | | 21,352 | | | | 4,243,069 | |
| | |
Walt Disney Co. | | | 75,137 | | | | 6,790,882 | |
| | |
(Cost $93,177,490) | | | | | | | 100,963,417 | |
| | |
Consumer Discretionary — 7.2% | | | | | | | | |
| | |
Aptiv PLC * | | | 11,621 | | | | 831,250 | |
| | |
Bath & Body Works, Inc. | | | 9,105 | | | | 280,070 | |
| | |
Best Buy Co., Inc. | | | 8,321 | | | | 835,428 | |
| | |
BorgWarner, Inc. | | | 9,868 | | | | 336,203 | |
| | |
Caesars Entertainment, Inc. * | | | 9,657 | | | | 363,489 | |
| | |
CarMax, Inc. * | | | 6,356 | | | | 537,400 | |
| | |
Carnival Corp. * | | | 40,839 | | | | 673,843 | |
| | |
Chipotle Mexican Grill, Inc. * | | | 56,308 | | | | 3,157,753 | |
| | |
D.R. Horton, Inc. | | | 12,147 | | | | 2,292,868 | |
| | |
Deckers Outdoor Corp. * | | | 1,057 | | | | 1,013,970 | |
| | |
eBay, Inc. | | | 21,255 | | | | 1,256,171 | |
| | |
Etsy, Inc. * | | | 4,720 | | | | 260,025 | |
| | |
Expedia Group, Inc. * | | | 5,345 | | | | 743,436 | |
| | |
General Motors Co. | | | 46,903 | | | | 2,334,831 | |
| | |
Genuine Parts Co. | | | 5,660 | | | | 810,852 | |
| | |
Hasbro, Inc. | | | 5,914 | | | | 403,098 | |
| | |
Hilton Worldwide Holdings, Inc. | | | 10,282 | | | | 2,258,338 | |
| | |
Home Depot, Inc. | | | 40,832 | | | | 15,046,592 | |
| | |
Las Vegas Sands Corp. | | | 15,910 | | | | 620,331 | |
| | |
LKQ Corp. | | | 10,684 | | | | 444,348 | |
| | |
Lowe’s Cos., Inc. | | | 23,487 | | | | 5,836,520 | |
| | |
Lululemon Athletica, Inc. * | | | 4,726 | | | | 1,226,255 | |
| | |
Marriott International, Inc., Class A | | | 10,030 | | | | 2,353,941 | |
| | |
McDonald’s Corp. | | | 29,737 | | | | 8,583,882 | |
| | |
MGM Resorts International * | | | 10,507 | | | | 394,958 | |
| | |
Mohawk Industries, Inc. * | | | 2,521 | | | | 391,108 | |
| | |
NIKE, Inc., Class B | | | 49,762 | | | | 4,146,170 | |
| | |
Norwegian Cruise Line Holdings Ltd. * | | | 17,157 | | | | 306,939 | |
| | |
Pool Corp. | | | 1,565 | | | | 550,285 | |
| | |
PulteGroup, Inc. | | | 8,609 | | | | 1,133,375 | |
| | |
Ralph Lauren Corp. | | | 1,701 | | | | 291,313 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Ross Stores, Inc. | | | 13,701 | | | | 2,063,508 | |
| | |
Royal Caribbean Cruises Ltd. * | | | 10,189 | | | | 1,677,313 | |
| | |
Starbucks Corp. | | | 46,300 | | | | 4,378,591 | |
| | |
Tapestry, Inc. | | | 10,160 | | | | 416,255 | |
| | |
Tesla, Inc. * | | | 114,288 | | | | 24,470,204 | |
| | |
TJX Cos., Inc. | | | 46,691 | | | | 5,475,454 | |
| | |
Tractor Supply Co. | | | 4,379 | | | | 1,171,601 | |
| | |
Ulta Beauty, Inc. * | | | 2,005 | | | | 707,444 | |
| | |
Wynn Resorts Ltd. | | | 3,731 | | | | 286,839 | |
| | |
Yum! Brands, Inc. | | | 11,432 | | | | 1,542,405 | |
| | |
(Cost $94,070,330) | | | | | | | 101,904,656 | |
| | |
Consumer Staples — 6.7% | | | | | | | | |
| | |
Archer-Daniels-Midland Co. | | | 20,112 | | | | 1,226,631 | |
| | |
Campbell Soup Co. | | | 9,132 | | | | 454,043 | |
| | |
Coca-Cola Co. | | | 160,002 | | | | 11,595,345 | |
| | |
Colgate-Palmolive Co. | | | 33,595 | | | | 3,577,867 | |
| | |
Conagra Brands, Inc. | | | 20,138 | | | | 628,306 | |
| | |
Costco Wholesale Corp. | | | 18,400 | | | | 16,419,792 | |
| | |
Estee Lauder Cos., Inc., Class A | | | 9,959 | | | | 912,842 | |
| | |
General Mills, Inc. | | | 22,951 | | | | 1,659,128 | |
| | |
Hershey Co. | | | 6,392 | | | | 1,234,039 | |
| | |
Hormel Foods Corp. | | | 13,141 | | | | 427,739 | |
| | |
J M Smucker Co. | | | 4,567 | | | | 523,744 | |
| | |
Kellanova | | | 10,807 | | | | 871,152 | |
| | |
Keurig Dr Pepper, Inc. | | | 43,342 | | | | 1,586,751 | |
| | |
Kraft Heinz Co. | | | 31,604 | | | | 1,119,730 | |
| | |
Kroger Co. | | | 27,881 | | | | 1,483,548 | |
| | |
Lamb Weston Holdings, Inc. | | | 5,795 | | | | 358,826 | |
| | |
McCormick & Co., Inc. | | | 10,735 | | | | 859,122 | |
| | |
Molson Coors Beverage Co., Class B | | | 8,543 | | | | 461,066 | |
| | |
Mondelez International, Inc., Class A | | | 55,029 | | | | 3,951,632 | |
| | |
PepsiCo, Inc. | | | 56,831 | | | | 9,824,943 | |
| | |
Procter & Gamble Co. | | | 97,440 | | | | 16,714,858 | |
| | |
Sysco Corp. | | | 19,814 | | | | 1,544,898 | |
| | |
Target Corp. | | | 18,930 | | | | 2,908,027 | |
| | |
Tyson Foods, Inc., Class A | | | 11,010 | | | | 708,053 | |
| | |
Walgreens Boots Alliance, Inc. | | | 30,392 | | | | 281,126 | |
| | |
Walmart, Inc. | | | 175,667 | | | | 13,566,762 | |
| | |
(Cost $86,537,623) | | | | | | | 94,899,970 | |
| | |
Energy — 4.2% | | | | | | | | |
| | |
Baker Hughes Co. | | | 43,111 | | | | 1,516,214 | |
| | |
Chevron Corp. | | | 70,899 | | | | 10,489,507 | |
| | |
Devon Energy Corp. | | | 25,906 | | | | 1,160,071 | |
| | |
Diamondback Energy, Inc. | | | 7,314 | | | | 1,427,034 | |
| | |
EQT Corp. | | | 24,478 | | | | 820,258 | |
| | |
Exxon Mobil Corp. | | | 185,400 | | | | 21,866,076 | |
| | |
Halliburton Co. | | | 36,208 | | | | 1,125,707 | |
| | |
Hess Corp. | | | 11,299 | | | | 1,559,940 | |
| | |
Kinder Morgan, Inc. | | | 78,305 | | | | 1,689,039 | |
See Notes to Financial Statements.
2 | DBX ETF Trust
Schedule of Investments
Xtrackers S&P 500 ESG ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Marathon Petroleum Corp. | | | 14,576 | | | | 2,581,701 | |
| | |
Occidental Petroleum Corp. | | | 26,848 | | | | 1,529,799 | |
| | |
ONEOK, Inc. | | | 23,601 | | | | 2,179,788 | |
| | |
Phillips 66 | | | 17,649 | | | | 2,476,331 | |
| | |
Schlumberger NV | | | 58,441 | | | | 2,570,820 | |
| | |
Targa Resources Corp. | | | 9,635 | | | | 1,415,381 | |
| | |
Valero Energy Corp. | | | 13,514 | | | | 1,982,909 | |
| | |
Williams Cos., Inc. | | | 49,857 | | | | 2,281,955 | |
| | |
(Cost $55,934,448) | | | | | | | 58,672,530 | |
| | |
Financials — 14.2% | | | | | | | | |
| | |
Aflac, Inc. | | | 21,396 | | | | 2,361,263 | |
| | |
Allstate Corp. | | | 11,261 | | | | 2,127,653 | |
| | |
American Express Co. | | | 23,438 | | | | 6,062,239 | |
| | |
American International Group, Inc. | | | 27,774 | | | | 2,139,987 | |
| | |
Ameriprise Financial, Inc. | | | 4,032 | | | | 1,812,142 | |
| | |
Aon PLC, Class A | | | 8,905 | | | | 3,060,827 | |
| | |
Arch Capital Group Ltd. * | | | 15,910 | | | | 1,799,262 | |
| | |
Arthur J Gallagher & Co. | | | 8,874 | | | | 2,596,266 | |
| | |
Assurant, Inc. | | | 2,561 | | | | 502,852 | |
| | |
Bank of America Corp. | | | 281,507 | | | | 11,471,410 | |
| | |
Bank of New York Mellon Corp. | | | 30,801 | | | | 2,101,244 | |
| | |
BlackRock, Inc. | | | 5,772 | | | | 5,205,247 | |
| | |
Capital One Financial Corp. | | | 15,456 | | | | 2,270,950 | |
| | |
Cboe Global Markets, Inc. | | | 4,307 | | | | 884,658 | |
| | |
Charles Schwab Corp. | | | 60,999 | | | | 3,971,035 | |
| | |
Chubb Ltd. | | | 16,642 | | | | 4,729,324 | |
| | |
Citigroup, Inc. | | | 79,012 | | | | 4,949,312 | |
| | |
Citizens Financial Group, Inc. | | | 18,268 | | | | 786,437 | |
| | |
CME Group, Inc. | | | 14,736 | | | | 3,179,145 | |
| | |
Corpay, Inc. * | | | 2,917 | | | | 920,459 | |
| | |
Discover Financial Services | | | 10,792 | | | | 1,496,958 | |
| | |
Everest Group Ltd. | | | 1,798 | | | | 705,248 | |
| | |
FactSet Research Systems, Inc. | | | 1,714 | | | | 724,748 | |
| | |
Fidelity National Information Services, Inc. | | | 22,525 | | | | 1,857,186 | |
| | |
Fifth Third Bancorp | | | 28,485 | | | | 1,216,025 | |
| | |
Fiserv, Inc. * | | | 23,986 | | | | 4,187,956 | |
| | |
Franklin Resources, Inc. | | | 12,537 | | | | 253,749 | |
| | |
Global Payments, Inc. | | | 10,547 | | | | 1,170,822 | |
| | |
Globe Life, Inc. | | | 4,042 | | | | 424,612 | |
| | |
Goldman Sachs Group, Inc. | | | 13,311 | | | | 6,791,938 | |
| | |
Hartford Financial Services Group, Inc. | | | 12,031 | | | | 1,396,799 | |
| | |
Huntington Bancshares, Inc. | | | 61,391 | | | | 919,023 | |
| | |
Intercontinental Exchange, Inc. | | | 23,370 | | | | 3,775,423 | |
| | |
Invesco Ltd. | | | 20,732 | | | | 354,310 | |
| | |
Jack Henry & Associates, Inc. | | | 2,915 | | | | 504,382 | |
| | |
JPMorgan Chase & Co. | | | 118,617 | | | | 26,665,102 | |
| | |
KeyCorp | | | 36,817 | | | | 628,098 | |
| | |
M&T Bank Corp. | | | 7,210 | | | | 1,240,913 | |
| | |
MarketAxess Holdings, Inc. | | | 1,703 | | | | 412,790 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Marsh & McLennan Cos., Inc. | | | 20,230 | | | | 4,602,527 | |
| | |
Mastercard, Inc., Class A | | | 33,914 | | | | 16,391,993 | |
| | |
MetLife, Inc. | | | 24,805 | | | | 1,921,891 | |
| | |
Moody’s Corp. | | | 6,436 | | | | 3,139,095 | |
| | |
Morgan Stanley | | | 51,161 | | | | 5,300,791 | |
| | |
MSCI, Inc. | | | 3,222 | | | | 1,870,661 | |
| | |
Nasdaq, Inc. | | | 16,476 | | | | 1,187,590 | |
| | |
Northern Trust Corp. | | | 8,894 | | | | 811,222 | |
| | |
PayPal Holdings, Inc. * | | | 43,695 | | | | 3,164,829 | |
| | |
PNC Financial Services Group, Inc. | | | 16,632 | | | | 3,078,417 | |
| | |
Principal Financial Group, Inc. | | | 8,661 | | | | 705,179 | |
| | |
Prudential Financial, Inc. | | | 15,163 | | | | 1,837,149 | |
| | |
Raymond James Financial, Inc. | | | 8,203 | | | | 980,833 | |
| | |
Regions Financial Corp. | | | 40,449 | | | | 947,316 | |
| | |
S&P Global, Inc. | | | 13,142 | | | | 6,745,000 | |
| | |
State Street Corp. | | | 11,935 | | | | 1,039,539 | |
| | |
Synchrony Financial | | | 16,298 | | | | 819,137 | |
| | |
T. Rowe Price Group, Inc. | | | 9,682 | | | | 1,026,679 | |
| | |
Travelers Cos., Inc. | | | 9,348 | | | | 2,131,998 | |
| | |
Truist Financial Corp. | | | 56,340 | | | | 2,504,876 | |
| | |
US Bancorp | | | 63,075 | | | | 2,979,032 | |
| | |
Visa, Inc., Class A | | | 65,022 | | | | 17,970,130 | |
| | |
Willis Towers Watson PLC | | | 4,215 | | | | 1,231,244 | |
| | |
(Cost $166,617,453) | | | | | | | 200,044,922 | |
| | |
Health Care — 12.8% | | | | | | | | |
| | |
Abbott Laboratories | | | 71,962 | | | | 8,151,136 | |
| | |
AbbVie, Inc. | | | 72,840 | | | | 14,299,220 | |
| | |
Agilent Technologies, Inc. | | | 11,968 | | | | 1,710,467 | |
| | |
Amgen, Inc. | | | 22,146 | | | | 7,392,999 | |
| | |
Baxter International, Inc. | | | 21,489 | | | | 815,293 | |
| | |
Becton Dickinson and Co. | | | 11,833 | | | | 2,868,438 | |
| | |
Biogen, Inc. * | | | 6,102 | | | | 1,249,445 | |
| | |
Bio-Rad Laboratories, Inc., Class A * | | | 774 | | | | 261,086 | |
| | |
Boston Scientific Corp. * | | | 60,220 | | | | 4,925,394 | |
| | |
Bristol-Myers Squibb Co. | | | 82,865 | | | | 4,139,107 | |
| | |
Cardinal Health, Inc. | | | 9,993 | | | | 1,126,411 | |
| | |
Cencora, Inc. | | | 7,005 | | | | 1,678,188 | |
| | |
Centene Corp. * | | | 21,843 | | | | 1,721,884 | |
| | |
Charles River Laboratories International, Inc. * | | | 2,356 | | | | 465,899 | |
| | |
Cigna Group | | | 11,789 | | | | 4,265,378 | |
| | |
CVS Health Corp. | | | 51,519 | | | | 2,948,948 | |
| | |
Danaher Corp. | | | 27,204 | | | | 7,326,309 | |
| | |
DaVita, Inc. * | | | 2,191 | | | | 330,666 | |
| | |
Edwards Lifesciences Corp. * | | | 24,796 | | | | 1,734,728 | |
| | |
Elevance Health, Inc. | | | 9,668 | | | | 5,384,012 | |
| | |
Eli Lilly & Co. | | | 32,994 | | | | 31,674,900 | |
| | |
Gilead Sciences, Inc. | | | 51,016 | | | | 4,030,264 | |
| | |
Hologic, Inc. * | | | 9,443 | | | | 767,149 | |
| | |
Humana, Inc. | | | 4,962 | | | | 1,758,880 | |
See Notes to Financial Statements.
DBX ETF Trust | 3
Schedule of Investments
Xtrackers S&P 500 ESG ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
IDEXX Laboratories, Inc. * | | | 3,367 | | | | 1,620,638 | |
| | |
Incyte Corp. * | | | 7,193 | | | | 472,292 | |
| | |
Medtronic PLC | | | 54,826 | | | | 4,856,487 | |
| | |
Merck & Co., Inc. | | | 105,108 | | | | 12,450,043 | |
| | |
Mettler-Toledo International, Inc. * | | | 895 | | | | 1,287,977 | |
| | |
Moderna, Inc. * | | | 14,217 | | | | 1,100,396 | |
| | |
Pfizer, Inc. | | | 233,784 | | | | 6,782,074 | |
| | |
Quest Diagnostics, Inc. | | | 4,773 | | | | 749,218 | |
| | |
Regeneron Pharmaceuticals, Inc. * | | | 4,349 | | | | 5,152,217 | |
| | |
ResMed, Inc. | | | 5,966 | | | | 1,461,789 | |
| | |
Revvity, Inc. | | | 4,893 | | | | 599,588 | |
| | |
Stryker Corp. | | | 14,201 | | | | 5,118,324 | |
| | |
Teleflex, Inc. | | | 1,847 | | | | 452,829 | |
| | |
UnitedHealth Group, Inc. | | | 37,943 | | | | 22,393,959 | |
| | |
Waters Corp. * | | | 2,535 | | | | 877,997 | |
| | |
Zimmer Biomet Holdings, Inc. | | | 8,944 | | | | 1,032,674 | |
| | |
Zoetis, Inc. | | | 18,750 | | | | 3,440,437 | |
| | |
(Cost $156,539,438) | | | | | | | 180,875,140 | |
| | |
Industrials — 7.6% | | | | | | | | |
| | |
Allegion PLC | | | 3,414 | | | | 474,000 | |
| | |
American Airlines Group, Inc. * | | | 29,574 | | | | 314,076 | |
| | |
AMETEK, Inc. | | | 9,352 | | | | 1,599,660 | |
| | |
Automatic Data Processing, Inc. | | | 16,877 | | | | 4,656,533 | |
| | |
Axon Enterprise, Inc. * | | | 2,846 | | | | 1,038,705 | |
| | |
Broadridge Financial Solutions, Inc. | | | 5,083 | | | | 1,081,967 | |
| | |
C.H. Robinson Worldwide, Inc. | | | 4,815 | | | | 498,401 | |
| | |
Carrier Global Corp. | | | 33,984 | | | | 2,473,356 | |
| | |
Caterpillar, Inc. | | | 20,125 | | | | 7,166,512 | |
| | |
Cintas Corp. | | | 3,493 | | | | 2,812,284 | |
| | |
CSX Corp. | | | 80,597 | | | | 2,762,059 | |
| | |
Cummins, Inc. | | | 5,530 | | | | 1,730,060 | |
| | |
Dayforce, Inc. * | | | 6,085 | | | | 347,879 | |
| | |
Deere & Co. | | | 10,630 | | | | 4,100,416 | |
| | |
Delta Air Lines, Inc. | | | 25,919 | | | | 1,101,298 | |
| | |
Dover Corp. | | | 5,989 | | | | 1,114,134 | |
| | |
Eaton Corp. PLC | | | 16,397 | | | | 5,032,731 | |
| | |
Emerson Electric Co. | | | 23,395 | | | | 2,465,599 | |
| | |
Fortive Corp. | | | 15,210 | | | | 1,131,624 | |
| | |
General Electric Co. | | | 45,207 | | | | 7,894,046 | |
| | |
Hubbell, Inc. | | | 2,190 | | | | 875,825 | |
| | |
IDEX Corp. | | | 2,969 | | | | 613,039 | |
| | |
Illinois Tool Works, Inc. | | | 11,029 | | | | 2,792,322 | |
| | |
Ingersoll Rand, Inc. | | | 17,090 | | | | 1,562,881 | |
| | |
JB Hunt Transport Services, Inc. | | | 3,498 | | | | 605,854 | |
| | |
Johnson Controls International PLC | | | 27,706 | | | | 2,018,382 | |
| | |
Masco Corp. | | | 8,828 | | | | 702,356 | |
| | |
Norfolk Southern Corp. | | | 9,197 | | | | 2,355,904 | |
| | |
Otis Worldwide Corp. | | | 16,272 | | | | 1,540,796 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
PACCAR, Inc. | | | 22,555 | | | | 2,169,340 | |
| | |
Parker-Hannifin Corp. | | | 5,290 | | | | 3,175,058 | |
| | |
Paychex, Inc. | | | 13,728 | | | | 1,801,114 | |
| | |
Pentair PLC | | | 7,290 | | | | 646,550 | |
| | |
Quanta Services, Inc. | | | 6,070 | | | | 1,670,039 | |
| | |
Republic Services, Inc. | | | 8,782 | | | | 1,828,500 | |
| | |
Rockwell Automation, Inc. | | | 4,842 | | | | 1,317,169 | |
| | |
Stanley Black & Decker, Inc. | | | 6,000 | | | | 614,160 | |
| | |
Trane Technologies PLC | | | 9,635 | | | | 3,484,594 | |
| | |
Uber Technologies, Inc. * | | | 86,152 | | | | 6,300,296 | |
| | |
Union Pacific Corp. | | | 24,992 | | | | 6,400,201 | |
| | |
United Parcel Service, Inc., Class B | | | 29,637 | | | | 3,809,836 | |
| | |
United Rentals, Inc. | | | 2,746 | | | | 2,035,500 | |
| | |
Verisk Analytics, Inc. | | | 5,975 | | | | 1,630,100 | |
| | |
W.W. Grainger, Inc. | | | 1,790 | | | | 1,763,007 | |
| | |
Waste Management, Inc. | | | 15,028 | | | | 3,186,537 | |
| | |
Westinghouse Air Brake Technologies Corp. | | | 7,220 | | | | 1,224,295 | |
| | |
Xylem, Inc. | | | 10,241 | | | | 1,408,445 | |
| | |
(Cost $88,272,470) | | | | | | | 107,327,440 | |
| | |
Information Technology — 33.6% | | | | | | | | |
| | |
Accenture PLC, Class A | | | 25,999 | | | | 8,890,358 | |
| | |
Adobe, Inc. * | | | 18,547 | | | | 10,653,582 | |
| | |
Advanced Micro Devices, Inc. * | | | 66,296 | | | | 9,848,934 | |
| | |
Akamai Technologies, Inc. * | | | 6,138 | | | | 625,094 | |
| | |
Apple, Inc. | | | 595,426 | | | | 136,352,554 | |
| | |
Applied Materials, Inc. | | | 34,454 | | | | 6,796,396 | |
| | |
Autodesk, Inc. * | | | 8,740 | | | | 2,258,416 | |
| | |
Cisco Systems, Inc. | | | 166,599 | | | | 8,419,913 | |
| | |
Hewlett Packard Enterprise Co. | | | 52,919 | | | | 1,025,041 | |
| | |
HP, Inc. | | | 36,741 | | | | 1,329,289 | |
| | |
Intel Corp. | | | 176,516 | | | | 3,890,413 | |
| | |
KLA Corp. | | | 5,542 | | | | 4,541,281 | |
| | |
Lam Research Corp. | | | 5,395 | | | | 4,429,349 | |
| | |
Micron Technology, Inc. | | | 45,302 | | | | 4,359,864 | |
| | |
Microsoft Corp. | | | 307,027 | | | | 128,073,243 | |
| | |
NVIDIA Corp. | | | 1,016,413 | | | | 121,329,220 | |
| | |
ON Semiconductor Corp. * | | | 18,518 | | | | 1,441,997 | |
| | |
QUALCOMM, Inc. | | | 46,273 | | | | 8,111,657 | |
| | |
Salesforce, Inc. | | | 40,017 | | | | 10,120,299 | |
| | |
TE Connectivity Ltd. | | | 12,450 | | | | 1,912,320 | |
| | |
Western Digital Corp. * | | | 13,176 | | | | 864,214 | |
| | |
(Cost $341,492,739) | | | | | | | 475,273,434 | |
| | |
Materials — 2.5% | | | | | | | | |
| | |
Air Products and Chemicals, Inc. | | | 9,090 | | | | 2,534,747 | |
| | |
Albemarle Corp. | | | 4,901 | | | | 442,315 | |
| | |
Amcor PLC | | | 63,443 | | | | 725,788 | |
| | |
Avery Dennison Corp. | | | 3,094 | | | | 686,404 | |
| | |
Ball Corp. | | | 13,506 | | | | 861,818 | |
See Notes to Financial Statements.
4 | DBX ETF Trust
Schedule of Investments
Xtrackers S&P 500 ESG ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
CF Industries Holdings, Inc. | | | 8,337 | | | | 692,721 | |
| | |
Corteva, Inc. | | | 28,550 | | | | 1,635,915 | |
| | |
Dow, Inc. | | | 28,426 | | | | 1,523,065 | |
| | |
Ecolab, Inc. | | | 10,305 | | | | 2,609,020 | |
| | |
FMC Corp. | | | 5,822 | | | | 375,985 | |
| | |
Freeport-McMoRan, Inc. | | | 58,632 | | | | 2,596,225 | |
| | |
International Flavors & Fragrances, Inc. | | | 10,376 | | | | 1,079,000 | |
| | |
Linde PLC | | | 19,881 | | | | 9,508,088 | |
| | |
LyondellBasell Industries NV, Class A | | | 10,732 | | | | 1,059,248 | |
| | |
Mosaic Co. | | | 14,220 | | | | 406,266 | |
| | |
Newmont Corp. | | | 46,941 | | | | 2,506,180 | |
| | |
PPG Industries, Inc. | | | 10,033 | | | | 1,301,581 | |
| | |
Sherwin-Williams Co. | | | 9,655 | | | | 3,566,267 | |
| | |
Smurfit WestRock PLC | | | 21,405 | | | | 1,015,025 | |
| | |
(Cost $32,599,771) | | | | | | | 35,125,658 | |
| | |
Real Estate — 2.5% | | | | | | | | |
| | |
Alexandria Real Estate Equities, Inc. REIT | | | 6,649 | | | | 795,021 | |
| | |
American Tower Corp. REIT | | | 19,049 | | | | 4,268,119 | |
| | |
AvalonBay Communities, Inc. REIT | | | 5,945 | | | | 1,341,965 | |
| | |
BXP, Inc. REIT | | | 6,420 | | | | 482,912 | |
| | |
CBRE Group, Inc., Class A * | | | 11,905 | | | | 1,370,742 | |
| | |
CoStar Group, Inc. * | | | 16,740 | | | | 1,294,002 | |
| | |
Digital Realty Trust, Inc. REIT | | | 13,244 | | | | 2,007,923 | |
| | |
Equinix, Inc. REIT | | | 3,866 | | | | 3,225,636 | |
| | |
Equity Residential REIT | | | 13,614 | | | | 1,019,416 | |
| | |
Extra Space Storage, Inc. REIT | | | 9,097 | | | | 1,610,169 | |
| | |
Federal Realty Investment Trust REIT | | | 3,176 | | | | 365,240 | |
| | |
Healthpeak Properties, Inc. REIT | | | 30,610 | | | | 681,991 | |
| | |
Host Hotels & Resorts, Inc. REIT | | | 32,179 | | | | 569,568 | |
| | |
Iron Mountain, Inc. REIT | | | 12,231 | | | | 1,385,283 | |
| | |
Kimco Realty Corp. REIT | | | 27,249 | | | | 633,812 | |
| | |
Prologis, Inc. REIT | | | 37,635 | | | | 4,810,506 | |
| | |
Public Storage REIT | | | 6,384 | | | | 2,194,308 | |
| | |
Regency Centers Corp. REIT | | | 6,416 | | | | 466,379 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
SBA Communications Corp. REIT | | | 4,705 | | | | 1,066,435 | |
| | |
UDR, Inc. REIT | | | 13,629 | | | | 606,627 | |
| | |
Ventas, Inc. REIT | | | 17,873 | | | | 1,110,092 | |
| | |
Welltower, Inc. REIT | | | 24,392 | | | | 2,943,626 | |
| | |
Weyerhaeuser Co. REIT | | | 31,330 | | | | 955,252 | |
| | |
(Cost $32,929,547) | | | | | | | 35,205,024 | |
| | |
Utilities — 1.3% | | | | | | | | |
| | |
American Water Works Co., Inc. | | | 8,280 | | | | 1,185,034 | |
| | |
Consolidated Edison, Inc. | | | 14,123 | | | | 1,434,332 | |
| | |
Edison International | | | 16,417 | | | | 1,428,772 | |
| | |
Entergy Corp. | | | 9,113 | | | | 1,099,848 | |
| | |
Eversource Energy | | | 14,847 | | | | 1,002,618 | |
| | |
Exelon Corp. | | | 40,512 | | | | 1,543,102 | |
| | |
NextEra Energy, Inc. | | | 83,835 | | | | 6,749,556 | |
| | |
Public Service Enterprise Group, Inc. | | | 21,291 | | | | 1,719,248 | |
| | |
Sempra | | | 25,558 | | | | 2,100,356 | |
| | |
(Cost $17,068,637) | | | | | | | 18,262,866 | |
| | |
TOTAL COMMON STOCKS | | | | | | | | |
| | |
(Cost $1,165,239,946) | | | | | | | 1,408,555,057 | |
| | |
SECURITIES LENDING | | | | | | | | |
| | |
COLLATERAL — 0.0% | | | | | | | | |
| | |
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (b)(c)
(Cost $181,933) | | | 181,933 | | | | 181,933 | |
| | |
CASH EQUIVALENTS — 0.2% | | | | | | | | |
| | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (b)
(Cost $2,883,809) | | | 2,883,809 | | | | 2,883,809 | |
| | |
TOTAL INVESTMENTS — 99.9%
(Cost $1,168,305,688) | | | | | | | 1,411,620,799 | |
| | |
Other assets and liabilities, net — 0.1% | | | | | | | 1,495,682 | |
| | |
NET ASSETS — 100.0% | | | | | | | 1,413,116,481 | |
See Notes to Financial Statements.
DBX ETF Trust | 5
Schedule of Investments
Xtrackers S&P 500 ESG ETF (Continued)
August 31, 2024
A summary of the Fund’s transactions with affiliated investments during the year ended August 31, 2024 is as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Value ($) at 8/31/2023 | | Purchases Cost
($) | | Sales
Proceeds ($) | | Net Realized Gain/(Loss) ($) | | Net Change in Unrealized
Appreciation
(Depreciation)
($) | | Income ($) | | Capital Gain
Distributions
($) | | Number of
Shares at
8/31/2024 | | Value ($) at 8/31/2024 |
| | | | | | |
SECURITIES LENDING COLLATERAL — 0.0% | | | | | | | | | | | | | | | | | | | | | | | | | |
| |
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (b)(c) | | | | | |
| | | | | | | | |
— | | | 181,933 | (d) | | | — | | | | — | | | | — | | | | 105 | | | | — | | | | 181,933 | | | | 181,933 | |
| | | | | | | |
CASH EQUIVALENTS — 0.2% | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (b) | | | | | | | | | | | | | |
| | | | | | | | |
1,432,502 | | | 18,533,485 | | | | (17,082,178 | ) | | | — | | | | — | | | | 112,507 | | | | — | | | | 2,883,809 | | | | 2,883,809 | |
| | | | | | | | | |
1,432,502 | | | 18,715,418 | | | | (17,082,178 | ) | | | — | | | | — | | | | 112,612 | | | | — | | | | 3,065,742 | | | | 3,065,742 | |
| * | Non-income producing security. |
| (a) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at August 31, 2024 amounted to $177,025, which is 0.0% of net assets. |
| (b) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
| (c) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. |
| (d) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the year ended August 31, 2024. |
| REIT: | Real Estate Investment Trust |
At August 31, 2024, open futures contracts purchased were as follows:
| | | | | | | | | | | | | | | | | | | | |
| Contract Description | | Currency | | Number of
Contracts | | Notional
Amount ($) | | Contract Value
($) | | Expiration
Date | | Unrealized
Appreciation ($) |
| | | | | | |
E-Mini S&P 500 ESG Futures | | USD | | 16 | | | 3,931,220 | | | | 4,020,800 | | | | 9/20/2024 | | | | 89,580 | |
For information on the Fund’s policy and additional disclosures regarding futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
Currency Abbreviations
USD U.S. Dollar
See Notes to Financial Statements.
6 | DBX ETF Trust
Schedule of Investments
Xtrackers S&P 500 ESG ETF (Continued)
August 31, 2024
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of August 31, 2024 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
| | | | | | | | | | | | | | | | |
Assets | | | Level 1 | | | | Level 2 | | | | Level 3 | | | | Total | |
| | | | |
Common Stocks (a) | | $ | 1,408,555,057 | | | $ | — | | | $ | — | | | $ | 1,408,555,057 | |
| | | | |
Short-Term Investments (a) | | | 3,065,742 | | | | — | | | | — | | | | 3,065,742 | |
| | | | |
Derivatives (b) | | | | | | | | | | | | | | | | |
| | | | |
Futures Contracts | | | 89,580 | | | | — | | | | — | | | | 89,580 | |
| | | | |
TOTAL | | $ | 1,411,710,379 | | | $ | — | | | $ | — | | | $ | 1,411,710,379 | |
| (a) | See Schedule of Investments for additional detailed categorizations. |
| (b) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
See Notes to Financial Statements.
DBX ETF Trust | 7
Schedule of Investments
Xtrackers S&P 500 Growth ESG ETF
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
COMMON STOCKS — 99.7% | | | | | | | | |
| | |
Communication Services — 16.6% | | | | | | | | |
| | |
Alphabet, Inc., Class A | | | 3,446 | | | | 563,008 | |
| | |
Alphabet, Inc., Class C | | | 2,854 | | | | 471,224 | |
| | |
Electronic Arts, Inc. | | | 92 | | | | 13,967 | |
| | |
Meta Platforms, Inc., Class A | | | 2,043 | | | | 1,065,036 | |
| | |
Take-Two Interactive Software, Inc. * | | | 76 | | | | 12,290 | |
| | |
(Cost $1,734,875) | | | | | | | 2,125,525 | |
| | |
Consumer Discretionary — 11.4% | | | | | | | | |
| | |
Caesars Entertainment, Inc. * | | | 137 | | | | 5,157 | |
| | |
Carnival Corp. * | | | 676 | | | | 11,154 | |
| | |
Chipotle Mexican Grill, Inc. * | | | 1,295 | | | | 72,623 | |
| | |
D.R. Horton, Inc. | | | 280 | | | | 52,853 | |
| | |
Deckers Outdoor Corp. * | | | 24 | | | | 23,023 | |
| | |
Etsy, Inc. * | | | 46 | | | | 2,534 | |
| | |
Expedia Group, Inc. * | | | 121 | | | | 16,830 | |
| | |
Hilton Worldwide Holdings, Inc. | | | 238 | | | | 52,274 | |
| | |
Home Depot, Inc. | | | 347 | | | | 127,869 | |
| | |
Las Vegas Sands Corp. | | | 219 | | | | 8,539 | |
| | |
Lululemon Athletica, Inc. * | | | 108 | | | | 28,023 | |
| | |
Marriott International, Inc., Class A | | | 227 | | | | 53,275 | |
| | |
McDonald’s Corp. | | | 300 | | | | 86,598 | |
| | |
MGM Resorts International * | | | 161 | | | | 6,052 | |
| | |
NIKE, Inc., Class B | | | 492 | | | | 40,993 | |
| | |
Norwegian Cruise Line Holdings Ltd. * | | | 422 | | | | 7,549 | |
| | |
Pool Corp. | | | 19 | | | | 6,681 | |
| | |
PulteGroup, Inc. | | | 201 | | | | 26,462 | |
| | |
Ralph Lauren Corp. | | | 18 | | | | 3,083 | |
| | |
Ross Stores, Inc. | | | 318 | | | | 47,894 | |
| | |
Royal Caribbean Cruises Ltd. * | | | 223 | | | | 36,710 | |
| | |
Starbucks Corp. | | | 631 | | | | 59,674 | |
| | |
Tesla, Inc. * | | | 2,586 | | | | 553,688 | |
| | |
TJX Cos., Inc. | | | 696 | | | | 81,620 | |
| | |
Tractor Supply Co. | | | 40 | | | | 10,702 | |
| | |
Ulta Beauty, Inc. * | | | 31 | | | | 10,938 | |
| | |
Wynn Resorts Ltd. | | | 95 | | | | 7,304 | |
| | |
Yum! Brands, Inc. | | | 112 | | | | 15,111 | |
| | |
(Cost $1,308,964) | | | | | | | 1,455,213 | |
| | |
Consumer Staples — 4.5% | | | | | | | | |
| | |
Coca-Cola Co. | | | 1,435 | | | | 103,994 | |
| | |
Colgate-Palmolive Co. | | | 308 | | | | 32,802 | |
| | |
Costco Wholesale Corp. | | | 176 | | | | 157,059 | |
| | |
Hershey Co. | | | 49 | | | | 9,460 | |
| | |
Lamb Weston Holdings, Inc. | | | 83 | | | | 5,139 | |
| | |
Mondelez International, Inc., Class A | | | 536 | | | | 38,490 | |
| | |
PepsiCo, Inc. | | | 469 | | | | 81,081 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Procter & Gamble Co. | | | 870 | | | | 149,240 | |
| | |
(Cost $498,119) | | | | | | | 577,265 | |
| | |
Energy — 2.0% | | | | | | | | |
| | |
APA Corp. | | | 349 | | | | 9,943 | |
| | |
Coterra Energy, Inc. | | | 430 | | | | 10,462 | |
| | |
Diamondback Energy, Inc. | | | 170 | | | | 33,168 | |
| | |
EOG Resources, Inc. | | | 362 | | | | 46,633 | |
| | |
Hess Corp. | | | 264 | | | | 36,448 | |
| | |
Marathon Oil Corp. | | | 269 | | | | 7,707 | |
| | |
Marathon Petroleum Corp. | | | 175 | | | | 30,996 | |
| | |
ONEOK, Inc. | | | 355 | | | | 32,788 | |
| | |
Targa Resources Corp. | | | 212 | | | | 31,143 | |
| | |
Williams Cos., Inc. | | | 411 | | | | 18,811 | |
| | |
(Cost $235,446) | | | | | | | 258,099 | |
| | |
Financials — 7.4% | | | | | | | | |
| | |
American Express Co. | | | 377 | | | | 97,511 | |
| | |
Aon PLC, Class A | | | 105 | | | | 36,091 | |
| | |
Arch Capital Group Ltd. * | | | 354 | | | | 40,034 | |
| | |
Arthur J Gallagher & Co. | | | 106 | | | | 31,012 | |
| | |
Cboe Global Markets, Inc. | | | 59 | | | | 12,119 | |
| | |
FactSet Research Systems, Inc. | | | 15 | | | | 6,343 | |
| | |
Marsh & McLennan Cos., Inc. | | | 243 | | | | 55,285 | |
| | |
Mastercard, Inc., Class A | | | 559 | | | | 270,187 | |
| | |
Moody’s Corp. | | | 71 | | | | 34,629 | |
| | |
MSCI, Inc. | | | 40 | | | | 23,224 | |
| | |
S&P Global, Inc. | | | 134 | | | | 68,774 | |
| | |
Visa, Inc., Class A | | | 982 | | | | 271,395 | |
| | |
(Cost $796,758) | | | | | | | 946,604 | |
| | |
Health Care — 10.6% | | | | | | | | |
| | |
AbbVie, Inc. | | | 618 | | | | 121,320 | |
| | |
Boston Scientific Corp. * | | | 770 | | | | 62,978 | |
| | |
DaVita, Inc. * | | | 25 | | | | 3,773 | |
| | |
Dexcom, Inc. * | | | 230 | | | | 15,948 | |
| | |
Edwards Lifesciences Corp. * | | | 213 | | | | 14,901 | |
| | |
Eli Lilly & Co. | | | 664 | | | | 637,453 | |
| | |
IDEXX Laboratories, Inc. * | | | 41 | | | | 19,735 | |
| | |
Merck & Co., Inc. | | | 958 | | | | 113,475 | |
| | |
Mettler-Toledo International, Inc. * | | | 8 | | | | 11,513 | |
| | |
Regeneron Pharmaceuticals, Inc. * | | | 60 | | | | 71,081 | |
| | |
STERIS PLC | | | 53 | | | | 12,778 | |
| | |
Stryker Corp. | | | 206 | | | | 74,247 | |
| | |
UnitedHealth Group, Inc. | | | 330 | | | | 194,766 | |
| | |
Waters Corp. * | | | 19 | | | | 6,581 | |
| | |
(Cost $1,011,721) | | | | | | | 1,360,549 | |
| | |
Industrials — 8.9% | | | | | | | | |
| | |
Allegion PLC | | | 29 | | | | 4,026 | |
| | |
AMETEK, Inc. | | | 109 | | | | 18,644 | |
| | |
Automatic Data Processing, Inc. | | | 152 | | | | 41,938 | |
See Notes to Financial Statements.
8 | DBX ETF Trust
Schedule of Investments
Xtrackers S&P 500 Growth ESG ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Broadridge Financial Solutions, Inc. | | | 58 | | | | 12,346 | |
| | |
Carrier Global Corp. | | | 381 | | | | 27,729 | |
| | |
Caterpillar, Inc. | | | 268 | | | | 95,435 | |
| | |
Cintas Corp. | | | 45 | | | | 36,230 | |
| | |
CSX Corp. | | | 932 | | | | 31,940 | |
| | |
Dayforce, Inc. * | | | 74 | | | | 4,231 | |
| | |
Deere & Co. | | | 140 | | | | 54,004 | |
| | |
Delta Air Lines, Inc. | | | 341 | | | | 14,489 | |
| | |
Eaton Corp. PLC | | | 234 | | | | 71,822 | |
| | |
General Electric Co. | | | 444 | | | | 77,531 | |
| | |
Hubbell, Inc. | | | 22 | | | | 8,798 | |
| | |
Illinois Tool Works, Inc. | | | 122 | | | | 30,888 | |
| | |
Ingersoll Rand, Inc. | | | 296 | | | | 27,069 | |
| | |
Otis Worldwide Corp. | | | 137 | | | | 12,973 | |
| | |
PACCAR, Inc. | | | 363 | | | | 34,913 | |
| | |
Parker-Hannifin Corp. | | | 95 | | | | 57,019 | |
| | |
Paychex, Inc. | | | 110 | | | | 14,432 | |
| | |
Pentair PLC | | | 100 | | | | 8,869 | |
| | |
Quanta Services, Inc. | | | 96 | | | | 26,413 | |
| | |
Republic Services, Inc. | | | 115 | | | | 23,944 | |
| | |
Rockwell Automation, Inc. | | | 52 | | | | 14,146 | |
| | |
Trane Technologies PLC | | | 148 | | | | 53,526 | |
| | |
Uber Technologies, Inc. * | | | 1,971 | | | | 144,139 | |
| | |
Union Pacific Corp. | | | 260 | | | | 66,583 | |
| | |
United Rentals, Inc. | | | 63 | | | | 46,699 | |
| | |
Verisk Analytics, Inc. | | | 70 | | | | 19,097 | |
| | |
W.W. Grainger, Inc. | | | 31 | | | | 30,533 | |
| | |
Waste Management, Inc. | | | 165 | | | | 34,987 | |
| | |
(Cost $1,028,461) | | | | | | | 1,145,393 | |
| | |
Information Technology — 35.5% | | | | | | | | |
| | |
Accenture PLC, Class A | | | 321 | | | | 109,766 | |
| | |
Adobe, Inc. * | | | 423 | | | | 242,976 | |
| | |
Advanced Micro Devices, Inc. * | | | 1,525 | | | | 226,554 | |
| | |
Akamai Technologies, Inc. * | | | 61 | | | | 6,212 | |
| | |
Apple, Inc. | | | 5,132 | | | | 1,175,228 | |
| | |
Autodesk, Inc. * | | | 106 | | | | 27,391 | |
| | |
KLA Corp. | | | 127 | | | | 104,068 | |
| | |
Lam Research Corp. | | | 123 | | | | 100,984 | |
| | |
Microsoft Corp. | | | 2,595 | | | | 1,082,478 | |
| | |
NVIDIA Corp. | | | 9,303 | | | | 1,110,499 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
ON Semiconductor Corp. * | | | 179 | | | | 13,939 | |
| | |
QUALCOMM, Inc. | | | 549 | | | | 96,240 | |
| | |
Salesforce, Inc. | | | 916 | | | | 231,656 | |
| | |
TE Connectivity Ltd. | | | 104 | | | | 15,974 | |
| | |
(Cost $3,255,239) | | | | | | | 4,543,965 | |
| | |
Materials — 1.7% | | | | | | | | |
| | |
CF Industries Holdings, Inc. | | | 89 | | | | 7,395 | |
| | |
Ecolab, Inc. | | | 124 | | | | 31,395 | |
| | |
Freeport-McMoRan, Inc. | | | 679 | | | | 30,066 | |
| | |
Linde PLC | | | 236 | | | | 112,867 | |
| | |
Sherwin-Williams Co. | | | 111 | | | | 41,000 | |
| | |
(Cost $185,206) | | | | | | | 222,723 | |
| | |
Real Estate — 1.1% | | | | | | | | |
| | |
American Tower Corp. REIT | | | 183 | | | | 41,003 | |
| | |
CoStar Group, Inc. * | | | 168 | | | | 12,986 | |
| | |
Digital Realty Trust, Inc. REIT | | | 116 | | | | 17,587 | |
| | |
Equinix, Inc. REIT | | | 43 | | | | 35,878 | |
| | |
Host Hotels & Resorts, Inc. REIT | | | 366 | | | | 6,478 | |
| | |
Iron Mountain, Inc. REIT | | | 128 | | | | 14,497 | |
| | |
SBA Communications Corp. REIT | | | 44 | | | | 9,973 | |
| | |
(Cost $123,373) | | | | | | | 138,402 | |
| | |
TOTAL COMMON STOCKS | | | | | | | | |
| | |
(Cost $10,178,162) | | | | | | | 12,773,738 | |
| | |
EXCHANGE-TRADED FUNDS — 0.3% | | | | | | | | |
| | |
SPDR Portfolio S&P 500 Growth ETF | | | | | | | | |
| | |
(Cost $30,312) | | | 400 | | | | 32,300 | |
| | |
CASH EQUIVALENTS — 0.0% | | | | | | | | |
| | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (a) | | | | | | | | |
| | |
(Cost $5,966) | | | 5,966 | | | | 5,966 | |
| | |
TOTAL INVESTMENTS — 100.0% | | | | | | | | |
| | |
(Cost $10,214,440) | | | | | | | 12,812,004 | |
| | |
Other assets and liabilities, net — 0.0% | | | | | | | 5,188 | |
| | |
NET ASSETS — 100.0% | | | | | | | 12,817,192 | |
See Notes to Financial Statements.
DBX ETF Trust | 9
Schedule of Investments
Xtrackers S&P 500 Growth ESG ETF (Continued)
August 31, 2024
A summary of the Fund’s transactions with affiliated investments during the year ended August 31, 2024 is as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Value ($) at 8/31/2023 | | Purchases Cost
($) | | Sales
Proceeds ($) | | Net Realized Gain/(Loss) ($) | | Net Change in Unrealized
Appreciation
(Depreciation)
($) | | Income ($) | | Capital Gain
Distributions
($) | | Number of
Shares at
8/31/2024 | | Value ($) at
8/31/2024 |
| | | | | | | |
CASH EQUIVALENTS — 0.0% | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (a) | | | | | | | | | | | | | |
| | | | | | | | |
1,630 | | | 161,955 | | | | (157,619 | ) | | | — | | | | — | | | | 283 | | | | — | | | | 5,966 | | | | 5,966 | |
| * | Non-income producing security. |
| (a) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
| REIT: | Real Estate Investment Trust |
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of August 31, 2024 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Assets | | Level 1 | | | | Level 2 | | | | Level 3 | | | | Total |
| | | | | | | |
Common Stocks (a) | | $ | 12,773,738 | | | | | | | $ | — | | | | | | | $ | — | | | | | | | $ | 12,773,738 | |
| | | | | | | |
Exchange-Traded Funds | | | 32,300 | | | | | | | | — | | | | | | | | — | | | | | | | | 32,300 | |
| | | | | | | |
Short-Term Investments (a) | | | 5,966 | | | | | | | | — | | | | | | | | — | | | | | | | | 5,966 | |
| | | | | | | |
TOTAL | | $ | 12,812,004 | | | | | | | $ | — | | | | | | | $ | — | | | | | | | $ | 12,812,004 | |
| (a) | See Schedule of Investments for additional detailed categorizations. |
See Notes to Financial Statements.
10 | DBX ETF Trust
Schedule of Investments
Xtrackers S&P 500 Value ESG ETF
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
COMMON STOCKS — 99.4% | | | | | | | | |
| | |
Communication Services — 4.4% | | | | | | | | |
| | |
AT&T, Inc. | | | 3,233 | | | | 64,337 | |
| | |
Comcast Corp., Class A | | | 1,765 | | | | 69,841 | |
| | |
Interpublic Group of Cos., Inc. | | | 169 | | | | 5,511 | |
| | |
News Corp., Class A | | | 167 | | | | 4,731 | |
| | |
News Corp., Class B | | | 83 | | | | 2,443 | |
| | |
Omnicom Group, Inc. | | | 87 | | | | 8,737 | |
| | |
Paramount Global, Class B (a) | | | 274 | | | | 2,869 | |
| | |
Take-Two Interactive Software, Inc. * | | | 35 | | | | 5,660 | |
| | |
T-Mobile US, Inc. | | | 230 | | | | 45,706 | |
| | |
Walt Disney Co. | | | 822 | | | | 74,292 | |
| | |
(Cost $266,262) | | | | | | | 284,127 | |
| | |
Consumer Discretionary — 5.8% | | | | | | | | |
| | |
Aptiv PLC * | | | 123 | | | | 8,798 | |
| | |
Best Buy Co., Inc. | | | 84 | | | | 8,434 | |
| | |
BorgWarner, Inc. | | | 101 | | | | 3,441 | |
| | |
Caesars Entertainment, Inc. * | | | 53 | | | | 1,995 | |
| | |
Carnival Corp. * | | | 115 | | | | 1,898 | |
| | |
eBay, Inc. | | | 228 | | | | 13,475 | |
| | |
Etsy, Inc. * | | | 38 | | | | 2,093 | |
| | |
General Motors Co. | | | 508 | | | | 25,288 | |
| | |
Hasbro, Inc. | | | 62 | | | | 4,226 | |
| | |
Home Depot, Inc. | | | 282 | | | | 103,917 | |
| | |
Las Vegas Sands Corp. | | | 60 | | | | 2,339 | |
| | |
Lowe’s Cos., Inc. | | | 259 | | | | 64,362 | |
| | |
McDonald’s Corp. | | | 182 | | | | 52,536 | |
| | |
MGM Resorts International * | | | 55 | | | | 2,067 | |
| | |
Mohawk Industries, Inc. * | | | 30 | | | | 4,654 | |
| | |
NIKE, Inc., Class B | | | 305 | | | | 25,413 | |
| | |
Ralph Lauren Corp. | | | 10 | | | | 1,713 | |
| | |
Starbucks Corp. | | | 204 | | | | 19,292 | |
| | |
Tapestry, Inc. | | | 101 | | | | 4,138 | |
| | |
Tractor Supply Co. | | | 28 | | | | 7,491 | |
| | |
Ulta Beauty, Inc. * | | | 7 | | | | 2,470 | |
| | |
Yum! Brands, Inc. | | | 67 | | | | 9,040 | |
| | |
(Cost $335,664) | | | | | | | 369,080 | |
| | |
Consumer Staples — 10.3% | | | | | | | | |
| | |
Archer-Daniels-Midland Co. | | | 235 | | | | 14,333 | |
| | |
Campbell Soup Co. | | | 87 | | | | 4,326 | |
| | |
Coca-Cola Co. | | | 1,070 | | | | 77,543 | |
| | |
Colgate-Palmolive Co. | | | 229 | | | | 24,389 | |
| | |
Conagra Brands, Inc. | | | 210 | | | | 6,552 | |
| | |
Estee Lauder Cos., Inc., Class A | | | 102 | | | | 9,349 | |
| | |
General Mills, Inc. | | | 250 | | | | 18,073 | |
| | |
Hershey Co. | | | 41 | | | | 7,915 | |
| | |
Hormel Foods Corp. | | | 128 | | | | 4,166 | |
| | |
J M Smucker Co. | | | 47 | | | | 5,390 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Kellanova | | | 116 | | | | 9,351 | |
| | |
Keurig Dr Pepper, Inc. | | | 458 | | | | 16,767 | |
| | |
Kraft Heinz Co. | | | 351 | | | | 12,436 | |
| | |
Kroger Co. | | | 305 | | | | 16,229 | |
| | |
Lamb Weston Holdings, Inc. | | | 22 | | | | 1,362 | |
| | |
McCormick & Co., Inc. | | | 111 | | | | 8,883 | |
| | |
Molson Coors Beverage Co., Class B | | | 81 | | | | 4,372 | |
| | |
Mondelez International, Inc., Class A | | | 360 | | | | 25,852 | |
| | |
PepsiCo, Inc. | | | 397 | | | | 68,633 | |
| | |
Procter & Gamble Co. | | | 648 | | | | 111,158 | |
| | |
Sysco Corp. | | | 219 | | | | 17,075 | |
| | |
Target Corp. | | | 209 | | | | 32,107 | |
| | |
Tyson Foods, Inc., Class A | | | 126 | | | | 8,103 | |
| | |
Walgreens Boots Alliance, Inc. | | | 315 | | | | 2,914 | |
| | |
Walmart, Inc. | | | 1,923 | | | | 148,513 | |
| | |
(Cost $565,906) | | | | | | | 655,791 | |
| | |
Energy — 4.9% | | | | | | | | |
| | |
Baker Hughes Co. | | | 440 | | | | 15,475 | |
| | |
Chevron Corp. | | | 773 | | | | 114,365 | |
| | |
Devon Energy Corp. | | | 282 | | | | 12,628 | |
| | |
EQT Corp. | | | 263 | | | | 8,813 | |
| | |
Halliburton Co. | | | 392 | | | | 12,187 | |
| | |
Kinder Morgan, Inc. | | | 886 | | | | 19,111 | |
| | |
Marathon Petroleum Corp. | | | 73 | | | | 12,930 | |
| | |
Occidental Petroleum Corp. | | | 310 | | | | 17,664 | |
| | |
ONEOK, Inc. | | | 97 | | | | 8,959 | |
| | |
Phillips 66 | | | 189 | | | | 26,519 | |
| | |
Schlumberger NV | | | 649 | | | | 28,549 | |
| | |
Valero Energy Corp. | | | 150 | | | | 22,009 | |
| | |
Williams Cos., Inc. | | | 327 | | | | 14,967 | |
| | |
(Cost $319,737) | | | | | | | 314,176 | |
| | |
Financials — 25.7% | | | | | | | | |
| | |
Aflac, Inc. | | | 232 | | | | 25,604 | |
| | |
Allstate Corp. | | | 116 | | | | 21,917 | |
| | |
American Express Co. | | | 75 | | | | 19,399 | |
| | |
American International Group, Inc. | | | 304 | | | | 23,423 | |
| | |
Ameriprise Financial, Inc. | | | 21 | | | | 9,438 | |
| | |
Aon PLC, Class A | | | 47 | | | | 16,155 | |
| | |
Arthur J Gallagher & Co. | | | 47 | | | | 13,751 | |
| | |
Assurant, Inc. | | | 23 | | | | 4,516 | |
| | |
Bank of America Corp. | | | 3,073 | | | | 125,225 | |
| | |
Bank of New York Mellon Corp. | | | 334 | | | | 22,785 | |
| | |
BlackRock, Inc. | | | 63 | | | | 56,814 | |
| | |
Blackstone, Inc. | | | 89 | | | | 12,670 | |
| | |
Capital One Financial Corp. | | | 174 | | | | 25,566 | |
| | |
Cboe Global Markets, Inc. | | | 22 | | | | 4,519 | |
| | |
Charles Schwab Corp. | | | 674 | | | | 43,877 | |
| | |
Chubb Ltd. | | | 183 | | | | 52,005 | |
See Notes to Financial Statements.
DBX ETF Trust | 11
Schedule of Investments
Xtrackers S&P 500 Value ESG ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Citigroup, Inc. | | | 862 | | | | 53,996 | |
| | |
Citizens Financial Group, Inc. | | | 205 | | | | 8,825 | |
| | |
CME Group, Inc. | | | 105 | | | | 22,653 | |
| | |
Discover Financial Services | | | 51 | | | | 7,074 | |
| | |
FactSet Research Systems, Inc. | | | 11 | | | | 4,651 | |
| | |
Fidelity National Information Services, Inc. | | | 247 | | | | 20,365 | |
| | |
Fifth Third Bancorp | | | 300 | | | | 12,807 | |
| | |
Fiserv, Inc. * | | | 127 | | | | 22,174 | |
| | |
Franklin Resources, Inc. | | | 130 | | | | 2,631 | |
| | |
Global Payments, Inc. | | | 115 | | | | 12,766 | |
| | |
Globe Life, Inc. | | | 49 | | | | 5,147 | |
| | |
Goldman Sachs Group, Inc. | | | 146 | | | | 74,497 | |
| | |
Hartford Financial Services Group, Inc. | | | 131 | | | | 15,209 | |
| | |
Huntington Bancshares, Inc. | | | 637 | | | | 9,536 | |
| | |
Intercontinental Exchange, Inc. | | | 261 | | | | 42,165 | |
| | |
Invesco Ltd. | | | 256 | | | | 4,375 | |
| | |
Jack Henry & Associates, Inc. | | | 32 | | | | 5,537 | |
| | |
JPMorgan Chase & Co. | | | 1,294 | | | | 290,891 | |
| | |
KeyCorp | | | 412 | | | | 7,029 | |
| | |
M&T Bank Corp. | | | 73 | | | | 12,564 | |
| | |
MarketAxess Holdings, Inc. | | | 15 | | | | 3,636 | |
| | |
Mastercard, Inc., Class A | | | 104 | | | | 50,267 | |
| | |
MetLife, Inc. | | | 270 | | | | 20,920 | |
| | |
Moody’s Corp. | | | 37 | | | | 18,046 | |
| | |
Morgan Stanley | | | 566 | | | | 58,643 | |
| | |
MSCI, Inc. | | | 15 | | | | 8,709 | |
| | |
Nasdaq, Inc. | | | 184 | | | | 13,263 | |
| | |
Northern Trust Corp. | | | 90 | | | | 8,209 | |
| | |
PayPal Holdings, Inc. * | | | 472 | | | | 34,187 | |
| | |
PNC Financial Services Group, Inc. | | | 181 | | | | 33,501 | |
| | |
Principal Financial Group, Inc. | | | 97 | | | | 7,898 | |
| | |
Prudential Financial, Inc. | | | 159 | | | | 19,264 | |
| | |
Raymond James Financial, Inc. | | | 83 | | | | 9,924 | |
| | |
Regions Financial Corp. | | | 407 | | | | 9,532 | |
| | |
S&P Global, Inc. | | | 81 | | | | 41,572 | |
| | |
State Street Corp. | | | 133 | | | | 11,584 | |
| | |
Synchrony Financial | | | 179 | | | | 8,997 | |
| | |
T. Rowe Price Group, Inc. | | | 99 | | | | 10,498 | |
| | |
Travelers Cos., Inc. | | | 100 | | | | 22,807 | |
| | |
Truist Financial Corp. | | | 608 | | | | 27,032 | |
| | |
US Bancorp | | | 708 | | | | 33,439 | |
| | |
Visa, Inc., Class A | | | 241 | | | | 66,605 | |
| | |
Willis Towers Watson PLC | | | 45 | | | | 13,145 | |
| | |
(Cost $1,301,258) | | | | | | | 1,644,234 | |
| | |
Health Care — 20.5% | | | | | | | | |
| | |
Abbott Laboratories | | | 785 | | | | 88,917 | |
| | |
AbbVie, Inc. | | | 502 | | | | 98,548 | |
| | |
Agilent Technologies, Inc. | | | 135 | | | | 19,294 | |
| | |
Amgen, Inc. | | | 242 | | | | 80,787 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Baxter International, Inc. | | | 223 | | | | 8,461 | |
| | |
Becton Dickinson and Co. | | | 131 | | | | 31,756 | |
| | |
Biogen, Inc. * | | | 64 | | | | 13,105 | |
| | |
Bio-Rad Laboratories, Inc., Class A * | | | 12 | | | | 4,048 | |
| | |
Boston Scientific Corp. * | | | 301 | | | | 24,619 | |
| | |
Bristol-Myers Squibb Co. | | | 917 | | | | 45,804 | |
| | |
Cardinal Health, Inc. | | | 107 | | | | 12,061 | |
| | |
Catalent, Inc. * | | | 80 | | | | 4,877 | |
| | |
Cencora, Inc. | | | 73 | | | | 17,489 | |
| | |
Centene Corp. * | | | 246 | | | | 19,392 | |
| | |
Charles River Laboratories International, Inc. * | | | 23 | | | | 4,548 | |
| | |
Cigna Group | | | 129 | | | | 46,673 | |
| | |
CVS Health Corp. | | | 554 | | | | 31,711 | |
| | |
Danaher Corp. | | | 297 | | | | 79,985 | |
| | |
DaVita, Inc. * | | | 14 | | | | 2,113 | |
| | |
Edwards Lifesciences Corp. * | | | 168 | | | | 11,753 | |
| | |
Elevance Health, Inc. | | | 104 | | | | 57,917 | |
| | |
Gilead Sciences, Inc. | | | 562 | | | | 44,398 | |
| | |
Humana, Inc. | | | 54 | | | | 19,141 | |
| | |
Incyte Corp. * | | | 82 | | | | 5,384 | |
| | |
IQVIA Holdings, Inc. * | | | 50 | | | | 12,577 | |
| | |
Medtronic PLC | | | 601 | | | | 53,237 | |
| | |
Merck & Co., Inc. | | | 685 | | | | 81,138 | |
| | |
Mettler-Toledo International, Inc. * | | | 6 | | | | 8,634 | |
| | |
Moderna, Inc. * | | | 146 | | | | 11,300 | |
| | |
Pfizer, Inc. | | | 2,557 | | | | 74,179 | |
| | |
Quest Diagnostics, Inc. | | | 49 | | | | 7,691 | |
| | |
Regeneron Pharmaceuticals, Inc. * | | | 19 | | | | 22,509 | |
| | |
Revvity, Inc. | | | 54 | | | | 6,617 | |
| | |
Stryker Corp. | | | 54 | | | | 19,463 | |
| | |
Thermo Fisher Scientific, Inc. | | | 106 | | | | 65,197 | |
| | |
UnitedHealth Group, Inc. | | | 257 | | | | 151,681 | |
| | |
Waters Corp. * | | | 16 | | | | 5,542 | |
| | |
Zoetis, Inc. | | | 91 | | | | 16,698 | |
| | |
(Cost $1,195,868) | | | | | | | 1,309,244 | |
| | |
Industrials — 9.3% | | | | | | | | |
| | |
Allegion PLC | | | 24 | | | | 3,332 | |
| | |
American Airlines Group, Inc. * | | | 288 | | | | 3,059 | |
| | |
AMETEK, Inc. | | | 53 | | | | 9,066 | |
| | |
Automatic Data Processing, Inc. | | | 113 | | | | 31,178 | |
| | |
Broadridge Financial Solutions, Inc. | | | 22 | | | | 4,683 | |
| | |
C.H. Robinson Worldwide, Inc. | | | 52 | | | | 5,383 | |
| | |
Carrier Global Corp. | | | 191 | | | | 13,901 | |
| | |
Caterpillar, Inc. | | | 94 | | | | 33,473 | |
| | |
Cintas Corp. | | | 18 | | | | 14,492 | |
| | |
CSX Corp. | | | 435 | | | | 14,907 | |
| | |
Cummins, Inc. | | | 63 | | | | 19,710 | |
See Notes to Financial Statements.
12 | DBX ETF Trust
Schedule of Investments
Xtrackers S&P 500 Value ESG ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Dayforce, Inc. * | | | 31 | | | | 1,772 | |
| | |
Deere & Co. | | | 51 | | | | 19,673 | |
| | |
Delta Air Lines, Inc. | | | 124 | | | | 5,269 | |
| | |
Dover Corp. | | | 62 | | | | 11,534 | |
| | |
Eaton Corp. PLC | | | 70 | | | | 21,485 | |
| | |
Emerson Electric Co. | | | 260 | | | | 27,401 | |
| | |
General Electric Co. | | | 282 | | | | 49,243 | |
| | |
Hubbell, Inc. | | | 13 | | | | 5,199 | |
| | |
IDEX Corp. | | | 33 | | | | 6,814 | |
| | |
Illinois Tool Works, Inc. | | | 65 | | | | 16,457 | |
| | |
Ingersoll Rand, Inc. | | | 41 | | | | 3,749 | |
| | |
JB Hunt Transport Services, Inc. | | | 36 | | | | 6,235 | |
| | |
Johnson Controls International PLC | | | 300 | | | | 21,855 | |
| | |
Masco Corp. | | | 44 | | | | 3,501 | |
| | |
Norfolk Southern Corp. | | | 103 | | | | 26,384 | |
| | |
Otis Worldwide Corp. | | | 109 | | | | 10,321 | |
| | |
PACCAR, Inc. | | | 62 | | | | 5,963 | |
| | |
Parker-Hannifin Corp. | | | 12 | | | | 7,202 | |
| | |
Paychex, Inc. | | | 85 | | | | 11,152 | |
| | |
Pentair PLC | | | 31 | | | | 2,749 | |
| | |
Quanta Services, Inc. | | | 20 | | | | 5,503 | |
| | |
Republic Services, Inc. | | | 39 | | | | 8,120 | |
| | |
Rockwell Automation, Inc. | | | 26 | | | | 7,073 | |
| | |
Stanley Black & Decker, Inc. | | | 67 | | | | 6,858 | |
| | |
Trane Technologies PLC | | | 31 | | | | 11,211 | |
| | |
Union Pacific Corp. | | | 152 | | | | 38,926 | |
| | |
United Parcel Service, Inc., Class B | | | 331 | | | | 42,550 | |
| | |
Verisk Analytics, Inc. | | | 29 | | | | 7,912 | |
| | |
W.W. Grainger, Inc. | | | 5 | | | | 4,925 | |
| | |
Waste Management, Inc. | | | 89 | | | | 18,872 | |
| | |
Westinghouse Air Brake Technologies Corp. | | | 79 | | | | 13,396 | |
| | |
Xylem, Inc. | | | 112 | | | | 15,403 | |
| | |
(Cost $499,953) | | | | | | | 597,891 | |
| | |
Information Technology — 6.6% | | | | | | | | |
| | |
Accenture PLC, Class A | | | 131 | | | | 44,796 | |
| | |
Akamai Technologies, Inc. * | | | 45 | | | | 4,583 | |
| | |
Analog Devices, Inc. | | | 94 | | | | 22,075 | |
| | |
Autodesk, Inc. * | | | 45 | | | | 11,628 | |
| | |
Cisco Systems, Inc. | | | 1,832 | | | | 92,589 | |
| | |
First Solar, Inc. * | | | 47 | | | | 10,687 | |
| | |
Hewlett Packard Enterprise Co. | | | 572 | | | | 11,080 | |
| | |
HP, Inc. | | | 384 | | | | 13,893 | |
| | |
Intel Corp. | | | 1,924 | | | | 42,405 | |
| | |
Keysight Technologies, Inc. * | | | 77 | | | | 11,867 | |
| | |
Micron Technology, Inc. | | | 500 | | | | 48,120 | |
| | |
Motorola Solutions, Inc. | | | 31 | | | | 13,703 | |
| | |
NetApp, Inc. | | | 57 | | | | 6,881 | |
| | |
NXP Semiconductors NV | | | 28 | | | | 7,178 | |
| | |
ON Semiconductor Corp. * | | | 105 | | | | 8,176 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
QUALCOMM, Inc. | | | 240 | | | | 42,072 | |
| | |
Seagate Technology Holdings PLC | | | 51 | | | | 5,077 | |
| | |
TE Connectivity Ltd. | | | 83 | | | | 12,749 | |
| | |
Western Digital Corp. * | | | 143 | | | | 9,379 | |
| | |
(Cost $390,101) | | | | | | | 418,938 | |
| | |
Materials — 4.1% | | | | | | | | |
| | |
Air Products and Chemicals, Inc. | | | 101 | | | | 28,164 | |
| | |
Albemarle Corp. | | | 52 | | | | 4,693 | |
| | |
Amcor PLC | | | 636 | | | | 7,276 | |
| | |
Ball Corp. | | | 139 | | | | 8,869 | |
| | |
Corteva, Inc. | | | 309 | | | | 17,706 | |
| | |
Dow, Inc. | | | 329 | | | | 17,628 | |
| | |
Ecolab, Inc. | | | 55 | | | | 13,925 | |
| | |
FMC Corp. | | | 55 | | | | 3,552 | |
| | |
Freeport-McMoRan, Inc. | | | 315 | | | | 13,948 | |
| | |
International Flavors & Fragrances, Inc. | | | 112 | | | | 11,647 | |
| | |
Linde PLC | | | 105 | | | | 50,216 | |
| | |
LyondellBasell Industries NV, Class A | | | 113 | | | | 11,153 | |
| | |
Newmont Corp. | | | 525 | | | | 28,030 | |
| | |
PPG Industries, Inc. | | | 104 | | | | 13,492 | |
| | |
Sherwin-Williams Co. | | | 52 | | | | 19,207 | |
| | |
Smurfit WestRock PLC | | | 230 | | | | 10,906 | |
| | |
(Cost $219,473) | | | | | | | 260,412 | |
| | |
Real Estate — 4.7% | | | | | | | | |
| | |
Alexandria Real Estate Equities, Inc. REIT | | | 69 | | | | 8,250 | |
| | |
American Tower Corp. REIT | | | 125 | | | | 28,008 | |
| | |
AvalonBay Communities, Inc. REIT | | | 66 | | | | 14,898 | |
| | |
BXP, Inc. REIT | | | 64 | | | | 4,814 | |
| | |
CBRE Group, Inc., Class A * | | | 131 | | | | 15,083 | |
| | |
Digital Realty Trust, Inc. REIT | | | 84 | | | | 12,735 | |
| | |
Equinix, Inc. REIT | | | 23 | | | | 19,190 | |
| | |
Equity Residential REIT | | | 152 | | | | 11,382 | |
| | |
Extra Space Storage, Inc. REIT | | | 98 | | | | 17,346 | |
| | |
Federal Realty Investment Trust REIT | | | 42 | | | | 4,830 | |
| | |
Healthpeak Properties, Inc. REIT | | | 311 | | | | 6,929 | |
| | |
Host Hotels & Resorts, Inc. REIT | | | 178 | | | | 3,151 | |
| | |
Iron Mountain, Inc. REIT | | | 63 | | | | 7,135 | |
| | |
Kimco Realty Corp. REIT | | | 293 | | | | 6,815 | |
| | |
Prologis, Inc. REIT | | | 419 | | | | 53,557 | |
| | |
Public Storage REIT | | | 40 | | | | 13,749 | |
| | |
Regency Centers Corp. REIT | | | 72 | | | | 5,234 | |
| | |
SBA Communications Corp. REIT | | | 28 | | | | 6,347 | |
| | |
UDR, Inc. REIT | | | 133 | | | | 5,920 | |
| | |
Ventas, Inc. REIT | | | 177 | | | | 10,993 | |
| | |
Welltower, Inc. REIT | | | 272 | | | | 32,825 | |
| | |
Weyerhaeuser Co. REIT | | | 321 | | | | 9,787 | |
See Notes to Financial Statements.
DBX ETF Trust | 13
Schedule of Investments
Xtrackers S&P 500 Value ESG ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
(Cost $256,265) | | | | | | | 298,978 | |
| | |
Utilities — 3.1% | | | | | | | | |
| | |
American Water Works Co., Inc. | | | 86 | | | | 12,308 | |
| | |
Consolidated Edison, Inc. | | | 160 | | | | 16,250 | |
| | |
Edison International | | | 169 | | | | 14,708 | |
| | |
Entergy Corp. | | | 93 | | | | 11,224 | |
| | |
Eversource Energy | | | 154 | | | | 10,400 | |
| | |
Exelon Corp. | | | 438 | | | | 16,683 | |
| | |
NextEra Energy, Inc. | | | 927 | | | | 74,633 | |
| | |
Public Service Enterprise Group, Inc. | | | 229 | | | | 18,492 | |
| | |
Sempra | | | 289 | | | | 23,750 | |
| | |
(Cost $170,272) | | | | | | | 198,448 | |
| | |
TOTAL COMMON STOCKS | | | | | | | | |
| | |
(Cost $5,520,759) | | | | | | | 6,351,319 | |
| | |
EXCHANGE-TRADED FUNDS — 0.4% | | | | | | | | |
| | |
SPDR Portfolio S&P 500 Value ETF
(Cost $22,977) | | | 525 | | | | 27,600 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
SECURITIES LENDING | | | | | | | | |
| | |
COLLATERAL — 0.0% | | | | | | | | |
| | |
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (b)(c)
(Cost $2,333) | | | 2,333 | | | | 2,333 | |
| | |
CASH EQUIVALENTS — 0.1% | | | | | | | | |
| | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (b)
(Cost $2,715) | | | 2,715 | | | | 2,715 | |
| | |
TOTAL INVESTMENTS — 99.9% | | | | | | | | |
| | |
(Cost $5,548,784) | | | | | | | 6,383,967 | |
| | |
Other assets and liabilities, net — 0.1% | | | | | | | 7,693 | |
| | |
NET ASSETS — 100.0% | | | | | | | 6,391,660 | |
A summary of the Fund’s transactions with affiliated investments during the year ended August 31, 2024 is as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Value ($) at 8/31/2023 | | Purchases Cost
($) | | Sales
Proceeds ($) | | Net Realized Gain/(Loss) ($) | | Net Change in Unrealized
Appreciation
(Depreciation)
($) | | Income ($) | | Capital Gain
Distributions
($) | | Number of
Shares at
8/31/2024 | | Value ($) at
8/31/2024 |
| | | | | | |
SECURITIES LENDING COLLATERAL — 0.0% | | | | | | | | | | | | | | | | | | | | | | | | | |
| |
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (b)(c) | | | | | |
| | | | | | | | |
— | | | 2,333 | (d) | | | — | | | | — | | | | — | | | | — | | | | — | | | | 2,333 | | | | 2,333 | |
| | | | | | | |
CASH EQUIVALENTS — 0.1% | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (b) | | | | | | | | | | | | | |
| | | | | | | | |
493 | | | 204,131 | | | | (201,909 | ) | | | — | | | | — | | | | 188 | | | | — | | | | 2,715 | | | | 2,715 | |
| | | | | | | | | |
493 | | | 206,464 | | | | (201,909 | ) | | | — | | | | — | | | | 188 | | | | — | | | | 5,048 | | | | 5,048 | |
| * | Non-income producing security. |
| (a) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at August 31, 2024 amounted to $2,270, 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. |
| (d) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the year ended August 31, 2024. |
| REIT: | Real Estate Investment Trust |
See Notes to Financial Statements.
14 | DBX ETF Trust
Schedule of Investments
Xtrackers S&P 500 Value ESG ETF (Continued)
August 31, 2024
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of August 31, 2024 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Assets | | Level 1 | | | | Level 2 | | | | Level 3 | | | | Total |
| | | | | | | |
Common Stocks (a) | | $ | 6,351,319 | | | | | | | $ | — | | | | | | | $ | — | | | | | | | $ | 6,351,319 | |
| | | | | | | |
Exchange-Traded Funds | | | 27,600 | | | | | | | | — | | | | | | | | — | | | | | | | | 27,600 | |
| | | | | | | |
Short-Term Investments (a) | | | 5,048 | | | | | | | | — | | | | | | | | — | | | | | | | | 5,048 | |
| | | | | | | |
TOTAL | | $ | 6,383,967 | | | | | | | $ | — | | | | | | | $ | — | | | | | | | $ | 6,383,967 | |
| (a) | See Schedule of Investments for additional detailed categorizations. |
See Notes to Financial Statements.
DBX ETF Trust | 15
Schedule of Investments
Xtrackers S&P ESG Dividend Aristocrats ETF
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
COMMON STOCKS — 98.7% | | | | | | | | |
| | |
Consumer Discretionary — 8.2% | | | | | | | | |
| | |
Best Buy Co., Inc. | | | 1,728 | | | | 173,491 | |
| | |
Genuine Parts Co. | | | 427 | | | | 61,172 | |
| | |
Lowe’s Cos., Inc. | | | 248 | | | | 61,628 | |
| | |
McDonald’s Corp. | | | 196 | | | | 56,577 | |
| | |
NIKE, Inc., Class B | | | 332 | | | | 27,662 | |
| | |
Polaris, Inc. | | | 887 | | | | 75,085 | |
| | |
(Cost $420,765) | | | | | | | 455,615 | |
| | |
Consumer Staples — 18.7% | | | | | | | | |
| | |
Archer-Daniels-Midland Co. | | | 1,124 | | | | 68,553 | |
| | |
Brown-Forman Corp., Class B | | | 765 | | | | 34,876 | |
| | |
Church & Dwight Co., Inc. | | | 299 | | | | 30,462 | |
| | |
Coca-Cola Co. | | | 1,309 | | | | 94,863 | |
| | |
Colgate-Palmolive Co. | | | 778 | | | | 82,857 | |
| | |
Hormel Foods Corp. | | | 2,796 | | | | 91,010 | |
| | |
J M Smucker Co. | | | 723 | | | | 82,914 | |
| | |
Kimberly-Clark Corp. | | | 776 | | | | 112,256 | |
| | |
McCormick & Co., Inc. | | | 964 | | | | 77,149 | |
| | |
PepsiCo, Inc. | | | 441 | | | | 76,240 | |
| | |
Procter & Gamble Co. | | | 440 | | | | 75,478 | |
| | |
Sysco Corp. | | | 966 | | | | 75,319 | |
| | |
Target Corp. | | | 588 | | | | 90,328 | |
| | |
Walmart, Inc. | | | 648 | | | | 50,045 | |
| | |
(Cost $1,004,130) | | | | | | | 1,042,350 | |
| | |
Energy — 3.7% | | | | | | | | |
| | |
Chevron Corp. | | | 677 | | | | 100,162 | |
| | |
Exxon Mobil Corp. | | | 906 | | | | 106,854 | |
| | |
(Cost $215,391) | | | | | | | 207,016 | |
| | |
Financials — 8.7% | | | | | | | | |
| | |
Aflac, Inc. | | | 710 | | | | 78,356 | |
| | |
Chubb Ltd. | | | 164 | | | | 46,605 | |
| | |
FactSet Research Systems, Inc. | | | 45 | | | | 19,028 | |
| | |
Franklin Resources, Inc. | | | 4,285 | | | | 86,728 | |
| | |
Jack Henry & Associates, Inc. | | | 200 | | | | 34,606 | |
| | |
S&P Global, Inc. | | | 45 | | | | 23,096 | |
| | |
SEI Investments Co. | | | 628 | | | | 42,472 | |
| | |
T. Rowe Price Group, Inc. | | | 1,259 | | | | 133,504 | |
| | |
W.R. Berkley Corp. | | | 333 | | | | 19,880 | |
| | |
(Cost $448,155) | | | | | | | 484,275 | |
| | |
Health Care — 8.5% | | | | | | | | |
| | |
Abbott Laboratories | | | 483 | | | | 54,709 | |
| | |
AbbVie, Inc. | | | 703 | | | | 138,006 | |
| | |
Becton Dickinson and Co. | | | 183 | | | | 44,361 | |
| | |
Cardinal Health, Inc. | | | 511 | | | | 57,600 | |
| | |
Medtronic PLC | | | 1,136 | | | | 100,627 | |
| | |
Perrigo Co. PLC | | | 2,506 | | | | 72,925 | |
| | |
West Pharmaceutical Services, Inc. | | | 19 | | | | 5,959 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
(Cost $421,075) | | | | | | | 474,187 | |
| | |
Industrials — 16.7% | | | | | | | | |
| | |
ABM Industries, Inc. | | | 1,095 | | | | 62,579 | |
| | |
Automatic Data Processing, Inc. | | | 249 | | | | 68,702 | |
| | |
C.H. Robinson Worldwide, Inc. | | | 889 | | | | 92,020 | |
| | |
Carlisle Cos., Inc. | | | 94 | | | | 39,837 | |
| | |
Caterpillar, Inc. | | | 153 | | | | 54,483 | |
| | |
Cintas Corp. | | | 36 | | | | 28,984 | |
| | |
Donaldson Co., Inc. | | | 601 | | | | 43,711 | |
| | |
Dover Corp. | | | 238 | | | | 44,275 | |
| | |
Emerson Electric Co. | | | 562 | | | | 59,229 | |
| | |
Expeditors International of Washington, Inc. | | | 237 | | | | 29,248 | |
| | |
Illinois Tool Works, Inc. | | | 225 | | | | 56,966 | |
| | |
Lincoln Electric Holdings, Inc. | | | 152 | | | | 29,429 | |
| | |
MSA Safety, Inc. | | | 171 | | | | 31,230 | |
| | |
Nordson Corp. | | | 107 | | | | 27,452 | |
| | |
Pentair PLC | | | 486 | | | | 43,103 | |
| | |
Republic Services, Inc. | | | 186 | | | | 38,727 | |
| | |
Stanley Black & Decker, Inc. | | | 925 | | | | 94,683 | |
| | |
Toro Co. | | | 433 | | | | 40,096 | |
| | |
Waste Management, Inc. | | | 210 | | | | 44,529 | |
| | |
(Cost $775,588) | | | | | | | 929,283 | |
| | |
Information Technology — 7.9% | | | | | | | | |
| | |
Analog Devices, Inc. | | | 240 | | | | 56,361 | |
| | |
Badger Meter, Inc. | | | 89 | | | | 18,418 | |
| | |
International Business Machines Corp. | | | 599 | | | | 121,076 | |
| | |
Microchip Technology, Inc. | | | 623 | | | | 51,186 | |
| | |
QUALCOMM, Inc. | | | 418 | | | | 73,275 | |
| | |
Roper Technologies, Inc. | | | 26 | | | | 14,415 | |
| | |
Texas Instruments, Inc. | | | 481 | | | | 103,097 | |
| | |
(Cost $349,522) | | | | | | | 437,828 | |
| | |
Materials — 8.5% | | | | | | | | |
| | |
Air Products and Chemicals, Inc. | | | 273 | | | | 76,126 | |
| | |
Albemarle Corp. | | | 318 | | | | 28,700 | |
| | |
AptarGroup, Inc. | | | 254 | | | | 38,910 | |
| | |
Ecolab, Inc. | | | 151 | | | | 38,230 | |
| | |
HB Fuller Co. | | | 314 | | | | 26,897 | |
| | |
Linde PLC | | | 80 | | | | 38,260 | |
| | |
Nucor Corp. | | | 181 | | | | 27,496 | |
| | |
PPG Industries, Inc. | | | 362 | | | | 46,962 | |
| | |
RPM International, Inc. | | | 448 | | | | 52,080 | |
| | |
Sherwin-Williams Co. | | | 74 | | | | 27,334 | |
| | |
Sonoco Products Co. | | | 1,053 | | | | 59,568 | |
| | |
Stepan Co. | | | 170 | | | | 13,197 | |
| | |
(Cost $454,718) | | | | | | | 473,760 | |
| | |
Real Estate — 6.6% | | | | | | | | |
| | |
Essex Property Trust, Inc. REIT | | | 384 | | | | 115,887 | |
| | |
Federal Realty Investment Trust REIT | | | 984 | | | | 113,160 | |
See Notes to Financial Statements.
16 | DBX ETF Trust
Schedule of Investments
Xtrackers S&P ESG Dividend Aristocrats ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Realty Income Corp. REIT | | | 2,260 | | | | 140,369 | |
| | |
(Cost $313,279) | | | | | | | 369,416 | |
| | |
Utilities — 11.2% | | | | | | | | |
| | |
California Water Service Group | | | 686 | | | | 37,956 | |
| | |
Edison International | | | 1,551 | | | | 134,983 | |
| | |
Eversource Energy | | | 1,874 | | | | 126,551 | |
| | |
NextEra Energy, Inc. | | | 1,276 | | | | 102,731 | |
| | |
ONE Gas, Inc. | | | 869 | | | | 59,909 | |
| | |
Spire, Inc. | | | 844 | | | | 55,679 | |
| | |
UGI Corp. | | | 4,138 | | | | 103,078 | |
| | |
(Cost $545,722) | | | | | | | 620,887 | |
| | |
TOTAL COMMON STOCKS | | | | | | | | |
(Cost $4,948,345) | | | | | | | 5,494,617 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
EXCHANGE-TRADED FUNDS — 1.2% | | | | | | | | |
| | |
ProShares S&P 500 Dividend Aristocrats ETF
(Cost $59,905) | | | 615 | | | | 64,458 | |
| | |
CASH EQUIVALENTS — 0.0% | | | | | | | | |
| | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (a)
(Cost $2,341) | | | 2,341 | | | | 2,341 | |
| | |
TOTAL INVESTMENTS — 99.9% | | | | | | | | |
| | |
(Cost $5,010,591) | | | | | | | 5,561,416 | |
| | |
Other assets and liabilities, net — 0.1% | | | | | | | 8,270 | |
| | |
NET ASSETS — 100.0% | | | | | | | 5,569,686 | |
A summary of the Fund’s transactions with affiliated investments during the year ended August 31, 2024 is as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Value ($) at 8/31/2023 | | Purchases Cost
($) | | Sales
Proceeds ($) | | Net Realized Gain/(Loss) ($) | | Net Change in Unrealized
Appreciation
(Depreciation)
($) | | Income ($) | | Capital Gain
Distributions
($) | | Number of
Shares at
8/31/2024 | | Value ($) at
8/31/2024 |
| | | | | | | |
CASH EQUIVALENTS — 0.0% | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (a) | | | | | | | | | | | | | |
| | | | | | | | |
1,971 | | | 243,199 | | | | (242,829 | ) | | | — | | | | — | | | | 290 | | | | — | | | | 2,341 | | | | 2,341 | |
| (a) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
| REIT: | Real Estate Investment Trust |
See Notes to Financial Statements.
DBX ETF Trust | 17
Schedule of Investments
Xtrackers S&P ESG Dividend Aristocrats ETF (Continued)
August 31, 2024
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of August 31, 2024 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Assets | | Level 1 | | | | Level 2 | | | | Level 3 | | | | Total |
| | | | | | | |
Common Stocks (a) | | $ | 5,494,617 | | | | | | | $ | — | | | | | | | $ | — | | | | | | | $ | 5,494,617 | |
| | | | | | | |
Exchange-Traded Funds | | | 64,458 | | | | | | | | — | | | | | | | | — | | | | | | | | 64,458 | |
| | | | | | | |
Short-Term Investments (a) | | | 2,341 | | | | | | | | — | | | | | | | | — | | | | | | | | 2,341 | |
| | | | | | | |
TOTAL | | $ | 5,561,416 | | | | | | | $ | — | | | | | | | $ | — | | | | | | | $ | 5,561,416 | |
| (a) | See Schedule of Investments for additional detailed categorizations. |
See Notes to Financial Statements.
18 | DBX ETF Trust
Schedule of Investments
Xtrackers S&P MidCap 400 ESG ETF
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
COMMON STOCKS — 98.3% | | | | | | | | |
| | |
Communication Services — 1.0% | | | | | | | | |
| | |
Frontier Communications | | | | | | | | |
| | |
Parent, Inc. * | | | 687 | | | | 19,785 | |
| | |
Nexstar Media Group, Inc. | | | 95 | | | | 16,234 | |
| | |
TEGNA, Inc. | | | 545 | | | | 7,565 | |
| | |
Ziff Davis, Inc. * | | | 136 | | | | 6,646 | |
| | |
ZoomInfo Technologies, Inc. * | | | 873 | | | | 8,634 | |
| | |
(Cost $68,282) | | | | | | | 58,864 | |
| | |
Consumer Discretionary — 14.9% | | | | | | | | |
| | |
Adient PLC * | | | 269 | | | | 6,085 | |
| | |
Aramark | | | 820 | | | | 30,037 | |
| | |
Autoliv, Inc. | | | 225 | | | | 23,056 | |
| | |
AutoNation, Inc. * | | | 76 | | | | 13,526 | |
| | |
Boyd Gaming Corp. | | | 205 | | | | 12,304 | |
| | |
Brunswick Corp. | | | 203 | | | | 16,047 | |
| | |
Burlington Stores, Inc. * | | | 194 | | | | 52,038 | |
| | |
Capri Holdings Ltd. * | | | 365 | | | | 13,038 | |
| | |
Carter’s, Inc. | | | 109 | | | | 7,183 | |
| | |
Choice Hotels International, Inc. | | | 73 | | | | 9,314 | |
| | |
Churchill Downs, Inc. | | | 206 | | | | 28,628 | |
| | |
Dick’s Sporting Goods, Inc. | | | 177 | | | | 41,942 | |
| | |
Floor & Decor Holdings, Inc., Class A * | | | 332 | | | | 37,330 | |
| | |
Gap, Inc. | | | 667 | | | | 14,961 | |
| | |
Goodyear Tire & Rubber Co. * | | | 885 | | | | 7,806 | |
| | |
Grand Canyon Education, Inc. * | | | 95 | | | | 13,776 | |
| | |
H&R Block, Inc. | | | 427 | | | | 27,033 | |
| | |
Harley-Davidson, Inc. | | | 374 | | | | 14,003 | |
| | |
Helen of Troy Ltd. * | | | 70 | | | | 3,737 | |
| | |
Hyatt Hotels Corp., Class A | | | 140 | | | | 21,269 | |
| | |
KB Home | | | 223 | | | | 18,667 | |
| | |
Lear Corp. | | | 175 | | | | 20,414 | |
| | |
Lithia Motors, Inc. | | | 84 | | | | 25,291 | |
| | |
Macy’s, Inc. | | | 855 | | | | 13,312 | |
| | |
Marriott Vacations Worldwide Corp. | | | 98 | | | | 7,252 | |
| | |
Nordstrom, Inc. | | | 287 | | | | 6,412 | |
| | |
Penske Automotive Group, Inc. | | | 57 | | | | 9,696 | |
| | |
Planet Fitness, Inc., Class A * | | | 266 | | | | 21,602 | |
| | |
Polaris, Inc. | | | 170 | | | | 14,390 | |
| | |
PVH Corp. | | | 176 | | | | 17,369 | |
| | |
Service Corp. International | | | 448 | | | | 35,065 | |
| | |
Taylor Morrison Home Corp. * | | | 325 | | | | 21,882 | |
| | |
Tempur Sealy International, Inc. | | | 530 | | | | 27,788 | |
| | |
Texas Roadhouse, Inc. | | | 206 | | | | 34,762 | |
| | |
Thor Industries, Inc. | | | 166 | | | | 17,805 | |
| | |
Toll Brothers, Inc. | | | 316 | | | | 45,526 | |
| | |
TopBuild Corp. * | | | 98 | | | | 38,516 | |
| | |
Travel + Leisure Co. | | | 214 | | | | 9,472 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Under Armour, Inc., Class A * | | | 557 | | | | 4,283 | |
| | |
Under Armour, Inc., Class C * | | | 563 | | | | 4,200 | |
| | |
Valvoline, Inc. * | | | 402 | | | | 16,964 | |
| | |
Visteon Corp. * | | | 82 | | | | 8,301 | |
| | |
Wendy’s Co. | | | 493 | | | | 8,342 | |
| | |
Whirlpool Corp. | | | 175 | | | | 17,551 | |
| | |
Williams-Sonoma, Inc. | | | 400 | | | | 53,732 | |
| | |
Wyndham Hotels & Resorts, Inc. | | | 245 | | | | 19,281 | |
| | |
(Cost $820,317) | | | | | | | 910,988 | |
| | |
Consumer Staples — 3.5% | | | | | | | | |
| | |
BJ’s Wholesale Club Holdings, Inc. * | | | 415 | | | | 33,183 | |
| | |
Coty, Inc., Class A * | | | 1,200 | | | | 11,256 | |
| | |
Darling Ingredients, Inc. * | | | 495 | | | | 20,656 | |
| | |
elf Beauty, Inc. * | | | 169 | | | | 25,315 | |
| | |
Ingredion, Inc. | | | 199 | | | | 26,728 | |
| | |
Pilgrim’s Pride Corp. * | | | 118 | | | | 5,496 | |
| | |
Post Holdings, Inc. * | | | 157 | | | | 18,176 | |
| | |
Sprouts Farmers Market, Inc. * | | | 311 | | | | 32,360 | |
| | |
US Foods Holding Corp. * | | | 684 | | | | 40,500 | |
| | |
(Cost $183,282) | | | | | | | 213,670 | |
| | |
Energy — 4.8% | | | | | | | | |
| | |
Antero Midstream Corp. | | | 1,062 | | | | 15,792 | |
| | |
Antero Resources Corp. * | | | 905 | | | | 24,426 | |
| | |
Chesapeake Energy Corp. | | | 338 | | | | 25,178 | |
| | |
Civitas Resources, Inc. | | | 282 | | | | 17,295 | |
| | |
CNX Resources Corp. * | | | 475 | | | | 13,143 | |
| | |
DT Midstream, Inc. | | | 298 | | | | 23,420 | |
| | |
HF Sinclair Corp. | | | 460 | | | | 22,604 | |
| | |
Murphy Oil Corp. | | | 445 | | | | 16,590 | |
| | |
NOV, Inc. | | | 1,209 | | | | 21,484 | |
| | |
Ovintiv, Inc. | | | 764 | | | | 32,722 | |
| | |
Range Resources Corp. | | | 736 | | | | 21,992 | |
| | |
Southwestern Energy Co. * | | | 3,375 | | | | 21,532 | |
| | |
Valaris Ltd. * | | | 195 | | | | 11,907 | |
| | |
Weatherford International PLC | | | 230 | | | | 24,136 | |
| | |
(Cost $304,003) | | | | | | | 292,221 | |
| | |
Financials — 18.0% | | | | | | | | |
| | |
Affiliated Managers Group, Inc. | | | 99 | | | | 17,209 | |
| | |
Ally Financial, Inc. | | | 845 | | | | 36,496 | |
| | |
Annaly Capital Management, Inc. REIT | | | 1,518 | | | | 30,603 | |
| | |
Associated Banc-Corp. | | | 438 | | | | 10,021 | |
| | |
Bank OZK | | | 332 | | | | 14,392 | |
| | |
Brighthouse Financial, Inc. * | | | 188 | | | | 8,629 | |
| | |
Cadence Bank | | | 570 | | | | 18,400 | |
| | |
CNO Financial Group, Inc. | | | 323 | | | | 11,279 | |
| | |
Columbia Banking System, Inc. | | | 661 | | | | 16,644 | |
| | |
Commerce Bancshares, Inc. | | | 366 | | | | 23,409 | |
| | |
Cullen/Frost Bankers, Inc. | | | 197 | | | | 22,109 | |
| | |
East West Bancorp, Inc. | | | 428 | | | | 35,982 | |
See Notes to Financial Statements.
DBX ETF Trust | 19
Schedule of Investments
Xtrackers S&P MidCap 400 ESG ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Equitable Holdings, Inc. | | | 945 | | | | 40,181 | |
| | |
Erie Indemnity Co., Class A | | | 76 | | | | 38,626 | |
| | |
Essent Group Ltd. | | | 330 | | | | 21,216 | |
| | |
Euronet Worldwide, Inc. * | | | 130 | | | | 14,028 | |
| | |
Evercore, Inc., Class A | | | 107 | | | | 26,294 | |
| | |
Federated Hermes, Inc. | | | 241 | | | | 8,266 | |
| | |
Fidelity National Financial, Inc. | | | 785 | | | | 46,284 | |
| | |
First American Financial Corp. | | | 320 | | | | 20,416 | |
| | |
First Horizon Corp. | | | 1,648 | | | | 27,340 | |
| | |
FNB Corp. | | | 1,123 | | | | 16,823 | |
| | |
Glacier Bancorp, Inc. | | | 351 | | | | 16,602 | |
| | |
Hanover Insurance Group, Inc. | | | 110 | | | | 16,169 | |
| | |
Janus Henderson Group PLC | | | 391 | | | | 14,706 | |
| | |
Jefferies Financial Group, Inc. | | | 518 | | | | 31,054 | |
| | |
MGIC Investment Corp. | | | 804 | | | | 20,446 | |
| | |
New York Community Bancorp, Inc. (a) | | | 801 | | | | 8,683 | |
| | |
Old National Bancorp. | | | 977 | | | | 19,393 | |
| | |
Pinnacle Financial Partners, Inc. | | | 235 | | | | 23,399 | |
| | |
Primerica, Inc. | | | 106 | | | | 27,902 | |
| | |
Reinsurance Group of America, Inc. | | | 205 | | | | 45,256 | |
| | |
RenaissanceRe Holdings Ltd. | | | 165 | | | | 42,040 | |
| | |
RLI Corp. | | | 124 | | | | 19,108 | |
| | |
SEI Investments Co. | | | 307 | | | | 20,762 | |
| | |
Selective Insurance Group, Inc. | | | 188 | | | | 17,104 | |
| | |
SLM Corp. | | | 700 | | | | 15,442 | |
| | |
Starwood Property Trust, Inc. REIT | | | 921 | | | | 19,194 | |
| | |
Stifel Financial Corp. | | | 320 | | | | 28,205 | |
| | |
Synovus Financial Corp. | | | 455 | | | | 20,985 | |
| | |
Texas Capital Bancshares, Inc. * | | | 139 | | | | 9,344 | |
| | |
UMB Financial Corp. | | | 129 | | | | 13,363 | |
| | |
Unum Group | | | 550 | | | | 30,520 | |
| | |
Valley National Bancorp | | | 1,257 | | | | 10,911 | |
| | |
Voya Financial, Inc. | | | 304 | | | | 21,532 | |
| | |
Webster Financial Corp. | | | 528 | | | | 25,043 | |
| | |
Western Union Co. | | | 1,034 | | | | 12,615 | |
| | |
WEX, Inc. * | | | 135 | | | | 25,788 | |
| | |
Wintrust Financial Corp. | | | 189 | | | | 20,563 | |
| | |
Zions Bancorp NA | | | 457 | | | | 22,649 | |
| | |
(Cost $976,431) | | | | | | | 1,103,425 | |
| | |
Health Care — 7.5% | | | | | | | | |
| | |
Acadia Healthcare Co., Inc. * | | | 284 | | | | 23,268 | |
| | |
Amedisys, Inc. * | | | 105 | | | | 10,291 | |
| | |
Azenta, Inc. * | | | 164 | | | | 8,121 | |
| | |
Cytokinetics, Inc. * | | | 350 | | | | 19,978 | |
| | |
Doximity, Inc., Class A * | | | 385 | | | | 14,160 | |
| | |
Encompass Health Corp. | | | 306 | | | | 28,473 | |
| | |
Enovis Corp. * | | | 146 | | | | 6,804 | |
| | |
Envista Holdings Corp. * | | | 535 | | | | 9,769 | |
| | |
Exelixis, Inc. * | | | 894 | | | | 23,271 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Haemonetics Corp. * | | | 159 | | | | 12,017 | |
| | |
Halozyme Therapeutics, Inc. * | | | 389 | | | | 24,838 | |
| | |
HealthEquity, Inc. * | | | 275 | | | | 21,879 | |
| | |
Jazz Pharmaceuticals PLC * | | | 194 | | | | 22,500 | |
| | |
Lantheus Holdings, Inc. * | | | 212 | | | | 22,572 | |
| | |
LivaNova PLC * | | | 170 | | | | 8,566 | |
| | |
Neogen Corp. * | | | 581 | | | | 10,022 | |
| | |
Neurocrine Biosciences, Inc. * | | | 304 | | | | 38,626 | |
| | |
Option Care Health, Inc. * | | | 522 | | | | 16,715 | |
| | |
Progyny, Inc. * | | | 246 | | | | 5,779 | |
| | |
R1 RCM, Inc. * | | | 625 | | | | 8,819 | |
| | |
Repligen Corp. * | | | 160 | | | | 24,149 | |
| | |
Tenet Healthcare Corp. * | | | 300 | | | | 49,752 | |
| | |
United Therapeutics Corp. * | | | 138 | | | | 50,170 | |
| | |
(Cost $423,795) | | | | | | | 460,539 | |
| | |
Industrials — 21.3% | | | | | | | | |
| | |
Acuity Brands, Inc. | | | 93 | | | | 23,687 | |
| | |
Advanced Drainage Systems, Inc. | | | 207 | | | | 32,449 | |
| | |
AGCO Corp. | | | 192 | | | | 17,480 | |
| | |
Avis Budget Group, Inc. | | | 55 | | | | 4,509 | |
| | |
Brink’s Co. | | | 133 | | | | 14,754 | |
| | |
Carlisle Cos., Inc. | | | 145 | | | | 61,451 | |
| | |
Chart Industries, Inc. * | | | 130 | | | | 15,912 | |
| | |
Clean Harbors, Inc. * | | | 153 | | | | 37,623 | |
| | |
Comfort Systems USA, Inc. | | | 108 | | | | 38,180 | |
| | |
Concentrix Corp. | | | 139 | | | | 10,457 | |
| | |
Crane Co. | | | 150 | | | | 23,757 | |
| | |
Donaldson Co., Inc. | | | 366 | | | | 26,619 | |
| | |
EMCOR Group, Inc. | | | 145 | | | | 56,994 | |
| | |
EnerSys | | | 127 | | | | 12,869 | |
| | |
Esab Corp. | | | 176 | | | | 18,475 | |
| | |
ExlService Holdings, Inc. * | | | 486 | | | | 17,758 | |
| | |
Flowserve Corp. | | | 405 | | | | 20,201 | |
| | |
Fortune Brands Innovations, Inc. | | | 385 | | | | 30,573 | |
| | |
FTI Consulting, Inc. * | | | 107 | | | | 24,429 | |
| | |
GATX Corp. | | | 111 | | | | 15,662 | |
| | |
Genpact Ltd. | | | 514 | | | | 20,164 | |
| | |
GXO Logistics, Inc. * | | | 369 | | | | 18,468 | |
| | |
Insperity, Inc. | | | 113 | | | | 10,621 | |
| | |
ITT, Inc. | | | 249 | | | | 34,666 | |
| | |
Kirby Corp. * | | | 181 | | | | 21,706 | |
| | |
Knight-Swift Transportation Holdings, Inc. | | | 494 | | | | 25,876 | |
| | |
Landstar System, Inc. | | | 111 | | | | 20,264 | |
| | |
Lennox International, Inc. | | | 100 | | | | 59,019 | |
| | |
Lincoln Electric Holdings, Inc. | | | 173 | | | | 33,495 | |
| | |
ManpowerGroup, Inc. | | | 144 | | | | 10,644 | |
| | |
MasTec, Inc. * | | | 186 | | | | 21,042 | |
| | |
Maximus, Inc. | | | 190 | | | | 17,529 | |
| | |
MDU Resources Group, Inc. | | | 635 | | | | 16,313 | |
See Notes to Financial Statements.
20 | DBX ETF Trust
Schedule of Investments
Xtrackers S&P MidCap 400 ESG ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
MSA Safety, Inc. | | | 114 | | | | 20,820 | |
| | |
MSC Industrial Direct Co., Inc., Class A | | | 135 | | | | 11,102 | |
| | |
nVent Electric PLC | | | 515 | | | | 34,999 | |
| | |
Owens Corning | | | 268 | | | | 45,220 | |
| | |
Regal Rexnord Corp. | | | 202 | | | | 33,898 | |
| | |
Ryder System, Inc. | | | 140 | | | | 20,334 | |
| | |
Sensata Technologies Holding PLC | | | 468 | | | | 18,041 | |
| | |
Simpson Manufacturing Co., Inc. | | | 126 | | | | 23,066 | |
| | |
Stericycle, Inc. * | | | 288 | | | | 17,067 | |
| | |
Terex Corp. | | | 210 | | | | 11,922 | |
| | |
Tetra Tech, Inc. | | | 170 | | | | 40,416 | |
| | |
Timken Co. | | | 205 | | | | 17,329 | |
| | |
Toro Co. | | | 317 | | | | 29,354 | |
| | |
Trex Co., Inc. * | | | 330 | | | | 21,034 | |
| | |
Valmont Industries, Inc. | | | 62 | | | | 17,717 | |
| | |
Watsco, Inc. | | | 99 | | | | 47,067 | |
| | |
Watts Water Technologies, Inc., Class A | | | 85 | | | | 16,720 | |
| | |
WESCO International, Inc. | | | 135 | | | | 22,326 | |
| | |
XPO, Inc. * | | | 354 | | | | 40,575 | |
| | |
(Cost $1,126,574) | | | | | | | 1,302,653 | |
| | |
Information Technology — 9.6% | | | | | | | | |
| | |
Allegro MicroSystems, Inc. * | | | 265 | | | | 6,501 | |
| | |
Amkor Technology, Inc. | | | 325 | | | | 10,693 | |
| | |
Arrow Electronics, Inc. * | | | 165 | | | | 22,288 | |
| | |
ASGN, Inc. * | | | 139 | | | | 13,366 | |
| | |
Avnet, Inc. | | | 282 | | | | 15,561 | |
| | |
Belden, Inc. | | | 123 | | | | 13,195 | |
| | |
Blackbaud, Inc. * | | | 124 | | | | 10,366 | |
| | |
Ciena Corp. * | | | 446 | | | | 25,712 | |
| | |
Cirrus Logic, Inc. * | | | 166 | | | | 24,185 | |
| | |
Coherent Corp. * | | | 405 | | | | 31,570 | |
| | |
CommVault Systems, Inc. * | | | 138 | | | | 21,445 | |
| | |
Dolby Laboratories, Inc., Class A | | | 187 | | | | 13,344 | |
| | |
Dropbox, Inc., Class A * | | | 756 | | | | 19,006 | |
| | |
Dynatrace, Inc. * | | | 738 | | | | 37,358 | |
| | |
Kyndryl Holdings, Inc. * | | | 712 | | | | 16,867 | |
| | |
Littelfuse, Inc. | | | 76 | | | | 20,687 | |
| | |
Lumentum Holdings, Inc. * | | | 199 | | | | 11,464 | |
| | |
MACOM Technology Solutions Holdings, Inc. * | | | 169 | | | | 18,460 | |
| | |
Manhattan Associates, Inc. * | | | 187 | | | | 49,448 | |
| | |
Novanta, Inc. * | | | 111 | | | | 20,344 | |
| | |
Onto Innovation, Inc. * | | | 151 | | | | 32,196 | |
| | |
Power Integrations, Inc. | | | 168 | | | | 11,273 | |
| | |
Pure Storage, Inc., Class A * | | | 945 | | | | 48,469 | |
| | |
Rambus, Inc. * | | | 332 | | | | 14,847 | |
| | |
Silicon Laboratories, Inc. * | | | 100 | | | | 11,837 | |
| | |
Synaptics, Inc. * | | | 125 | | | | 10,178 | |
| | |
Teradata Corp. * | | | 288 | | | | 8,133 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Universal Display Corp. | | | 133 | | | | 25,765 | |
| | |
Vontier Corp. | | | 477 | | | | 16,709 | |
| | |
Wolfspeed, Inc. * | | | 371 | | | | 3,617 | |
| | |
(Cost $564,420) | | | | | | | 584,884 | |
| | |
Materials — 7.4% | | | | | | | | |
| | |
Alcoa Corp. | | | 757 | | | | 24,300 | |
| | |
AptarGroup, Inc. | | | 205 | | | | 31,404 | |
| | |
Arcadium Lithium PLC * | | | 3,041 | | | | 8,241 | |
| | |
Ashland, Inc. | | | 157 | | | | 14,051 | |
| | |
Avient Corp. | | | 285 | | | | 14,002 | |
| | |
Axalta Coating Systems Ltd. * | | | 674 | | | | 24,601 | |
| | |
Berry Global Group, Inc. | | | 360 | | | | 24,790 | |
| | |
Cabot Corp. | | | 173 | | | | 18,184 | |
| | |
Cleveland-Cliffs, Inc. * | | | 1,470 | | | | 19,198 | |
| | |
Commercial Metals Co. | | | 360 | | | | 19,292 | |
| | |
Crown Holdings, Inc. | | | 364 | | | | 32,909 | |
| | |
Eagle Materials, Inc. | | | 106 | | | | 27,321 | |
| | |
Graphic Packaging Holding Co. | | | 933 | | | | 27,925 | |
| | |
Greif, Inc., Class A | | | 75 | | | | 4,689 | |
| | |
Louisiana-Pacific Corp. | | | 198 | | | | 19,216 | |
| | |
Royal Gold, Inc. | | | 201 | | | | 28,174 | |
| | |
RPM International, Inc. | | | 400 | | | | 46,500 | |
| | |
Scotts Miracle-Gro Co. | | | 124 | | | | 8,802 | |
| | |
Sonoco Products Co. | | | 304 | | | | 17,197 | |
| | |
United States Steel Corp. | | | 683 | | | | 25,893 | |
| | |
Westlake Corp. | | | 100 | | | | 14,544 | |
| | |
(Cost $444,205) | | | | | | | 451,233 | |
| | |
Real Estate — 8.5% | | | | | | | | |
| | |
Agree Realty Corp. REIT | | | 310 | | | | 22,633 | |
| | |
American Homes 4 Rent, Class A REIT | | | 1,000 | | | | 39,770 | |
| | |
Brixmor Property Group, Inc. REIT | | | 925 | | | | 25,336 | |
| | |
COPT Defense Properties REIT | | | 331 | | | | 9,861 | |
| | |
Cousins Properties, Inc. REIT | | | 447 | | | | 12,744 | |
| | |
CubeSmart REIT | | | 695 | | | | 36,022 | |
| | |
EastGroup Properties, Inc. REIT | | | 146 | | | | 27,214 | |
| | |
Equity LifeStyle Properties, Inc. REIT | | | 564 | | | | 41,008 | |
| | |
Healthcare Realty Trust, Inc. REIT | | | 1,176 | | | | 20,933 | |
| | |
Jones Lang LaSalle, Inc. * | | | 145 | | | | 37,008 | |
| | |
Kilroy Realty Corp. REIT | | | 340 | | | | 12,332 | |
| | |
Kite Realty Group Trust REIT | | | 686 | | | | 17,891 | |
| | |
NNN REIT, Inc. REIT | | | 558 | | | | 26,220 | |
| | |
Omega Healthcare Investors, Inc. REIT | | | 749 | | | | 29,615 | |
| | |
Park Hotels & Resorts, Inc. REIT | | | 660 | | | | 10,085 | |
| | |
PotlatchDeltic Corp. REIT | | | 234 | | | | 10,170 | |
| | |
Rayonier, Inc. REIT | | | 430 | | | | 13,248 | |
| | |
Rexford Industrial Realty, Inc. REIT | | | 670 | | | | 34,116 | |
See Notes to Financial Statements.
DBX ETF Trust | 21
Schedule of Investments
Xtrackers S&P MidCap 400 ESG ETF (Continued)
August 31, 2024
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
Sabra Health Care REIT, Inc. REIT | | | 750 | | | | 12,780 | |
| | |
STAG Industrial, Inc. REIT | | | 560 | | | | 22,725 | |
| | |
Vornado Realty Trust REIT | | | 503 | | | | 17,288 | |
| | |
WP Carey, Inc. REIT | | | 675 | | | | 40,514 | |
| | |
(Cost $475,913) | | | | | | | 519,513 | |
| | |
Utilities — 1.8% | | | | | | | | |
| | |
Essential Utilities, Inc. | | | 765 | | | | 29,827 | |
| | |
National Fuel Gas Co. | | | 288 | | | | 17,211 | |
| | |
New Jersey Resources Corp. | | | 310 | | | | 14,356 | |
| | |
ONE Gas, Inc. | | | 178 | | | | 12,271 | |
| | |
Ormat Technologies, Inc. | | | 170 | | | | 12,670 | |
| | |
Spire, Inc. | | | 177 | | | | 11,677 | |
| | |
UGI Corp. | | | 618 | | | | 15,395 | |
| | |
(Cost $119,193) | | | | | | | 113,407 | |
| | |
TOTAL COMMON STOCKS | | | | | | | | |
(Cost $5,506,415) | | | | | | | 6,011,397 | |
| | |
EXCHANGE-TRADED FUNDS — 1.1% | | | | | | | | |
| | |
iShares ESG Screened S&P Mid-Cap ETF | | | 1,075 | | | | 44,940 | |
| | |
SPDR S&P MidCap 400 ETF Trust | | | 40 | | | | 22,612 | |
(Cost $59,095) | | | | | | | 67,552 | |
| | | | | | | | |
| | | Number
of Shares | | Value $ |
| | |
SECURITIES LENDING COLLATERAL — 0.0% | | | | | | | | |
| | |
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (b)(c)
(Cost $11) | | | 11 | | | | 11 | |
| | |
CASH EQUIVALENTS — 0.5% | | | | | | | | |
| | |
DWS Government Money Market Series “Institutional Shares”, 5.24% (b) (Cost $28,664) | | | 28,664 | | | | 28,664 | |
| | |
TOTAL INVESTMENTS — 99.9% | | | | | | | | |
| | |
(Cost $5,594,185) | | | | | | | 6,107,624 | |
| | |
Other assets and liabilities, net — 0.1% | | | | | | | 5,442 | |
| | |
NET ASSETS — 100.0% | | | | | | | 6,113,066 | |
A summary of the Fund’s transactions with affiliated investments during the year ended August 31, 2024 is as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Value ($) at 8/31/2023 | | Purchases Cost
($) | | Sales
Proceeds ($) | | Net Realized
Gain/(Loss)
($) | | Net Change in Unrealized
Appreciation
(Depreciation)
($) | | Income ($) | | Capital Gain
Distributions
($) | | Number of
Shares at
8/31/2024 | | Value ($) at
8/31/2024 |
| | | | | | |
SECURITIES LENDING COLLATERAL — 0.0% | | | | | | | | | | | | | | | | | | | | | | | | | |
|
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.21% (b)(c) | |
| | | | | | | | |
77,625 | | | — | | | | (77,614) | (d) | | | — | | | | — | | | | 106 | | | | — | | | | 11 | | | | 11 | |
| | | | | | | |
CASH EQUIVALENTS — 0.5% | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
DWS Government Money Market Series “Institutional Shares”, 5.24% (b) | |
| | | | | | | | |
9,093 | | | 441,798 | | | | (422,227) | | | | — | | | | — | | | | 1,128 | | | | — | | | | 28,664 | | | | 28,664 | |
| | | | | | | | |
86,718 | | | 441,798 | | | | (499,841) | | | | — | | | | — | | | | 1,234 | | | | — | | | | 28,675 | | | | 28,675 | |
| * | Non-income producing security. |
| (a) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at August 31, 2024 amounted to $11, which is 0.0% of net assets. |
| (b) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
| (c) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. |
| (d) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the year ended August 31, 2024. |
REIT: Real Estate Investment Trust
See Notes to Financial Statements.
22 | DBX ETF Trust
Schedule of Investments
Xtrackers S&P MidCap 400 ESG ETF (Continued)
August 31, 2024
At August 31, 2024, open futures contracts purchased were as follows:
| | | | | | | | | | | | | | | | | | | | |
| Contract Description | | Currency | | Number of
Contracts | | Notional
Amount ($) | | Contract Value
($) | | Expiration
Date | | Unrealized
Appreciation ($) |
| | | | | | |
Micro E-mini S&P MidCap 400 Index Futures | | USD | | 1 | | | 29,600 | | | | 30,981 | | | | 9/20/2024 | | | | 1,381 | |
For information on the Fund’s policy and additional disclosures regarding futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
Currency Abbreviations
USD U.S. Dollar
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of August 31, 2024 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
| | | | | | | | | | | | | | | | |
| Assets | | Level 1 | | Level 2 | | Level 3 | | Total |
| | | | |
Common Stocks (a) | | $ | 6,011,397 | | | $ | — | | | $ | — | | | $ | 6,011,397 | |
| | | | |
Exchange-Traded Funds | | | 67,552 | | | | — | | | | — | | | | 67,552 | |
| | | | |
Short-Term Investments (a) | | | 28,675 | | | | — | | | | — | | | | 28,675 | |
| | | | |
Derivatives (b) | | | | | | | | | | | | | | | | |
Futures Contracts | | | 1,381 | | | | — | | | | — | | | | 1,381 | |
| | | | |
TOTAL | | $ | 6,109,005 | | | $ | — | | | $ | — | | | $ | 6,109,005 | |
| (a) | See Schedule of Investments for additional detailed categorizations. |
| (b) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
See Notes to Financial Statements.
DBX ETF Trust | 23
Statements of Assets and Liabilities
August 31, 2024
| | | | | | | | | | | | | | | | |
| | | Xtrackers S&P 500 ESG ETF | | Xtrackers S&P 500 Growth ESG ETF | | Xtrackers S&P 500 Value ESG ETF | | Xtrackers S&P ESG Dividend Aristocrats ETF |
| | | | | |
Assets | | | | | | | | | | | | | | | | |
Investment in non-affiliated securities at value | | $ | 1,408,555,057 | | | $ | 12,806,038 | | | $ | 6,378,919 | | | $ | 5,559,075 | |
Investment in DWS Government Money Market Series | | | 2,883,809 | | | | 5,966 | | | | 2,715 | | | | 2,341 | |
Investment in DWS Government & Agency Securities Portfolio* | | | 181,933 | | | | — | | | | 2,333 | | | | — | |
Deposit with broker for futures contracts | | | 167,200 | | | | — | | | | — | | | | — | |
Receivables: | | | | | | | | | | | | | | | | |
Capital shares | | | 43,997,925 | | | | — | | | | — | | | | — | |
Variation margin on futures contracts | | | 32,160 | | | | — | | | | — | | | | — | |
Dividends | | | 1,578,923 | | | | 6,719 | | | | 10,794 | | | | 8,939 | |
Interest | | | 10,666 | | | | 51 | | | | 15 | | | | 15 | |
Affiliated securities lending income | | | 8 | | | | — | | | | — | | | | — | |
Total assets | | $ | 1,457,407,681 | | | $ | 12,818,774 | | | $ | 6,394,776 | | | $ | 5,570,370 | |
| | | | |
Liabilities | | | | | | | | | | | | | | | | |
Payable upon return of securities loaned | | $ | 181,933 | | | $ | — | | | $ | 2,333 | | | $ | — | |
Payables: | | | | | | | | | | | | | | | | |
Investment securities purchased | | | 43,998,346 | | | | — | | | | — | | | | — | |
Investment advisory fees | | | 110,921 | | | | 1,582 | | | | 783 | | | | 684 | |
Total liabilities | | | 44,291,200 | | | | 1,582 | | | | 3,116 | | | | 684 | |
Net Assets, at value | | $ | 1,413,116,481 | | | $ | 12,817,192 | | | $ | 6,391,660 | | | $ | 5,569,686 | |
| | | | |
Net Assets Consist of | | | | | | | | | | | | | | | | |
Paid-in capital | | $ | 1,194,840,882 | | | $ | 10,386,016 | | | $ | 5,610,934 | | | $ | 5,331,119 | |
Distributable earnings (loss) | | | 218,275,599 | | | | 2,431,176 | | | | 780,726 | | | | 238,567 | |
Net Assets, at value | | $ | 1,413,116,481 | | | $ | 12,817,192 | | | $ | 6,391,660 | | | $ | 5,569,686 | |
Number of Common Shares outstanding | | | 27,300,001 | | | | 300,001 | | | | 200,001 | | | | 200,001 | |
Net Asset Value | | $ | 51.76 | | | $ | 42.72 | | | $ | 31.96 | | | $ | 27.85 | |
| | | | |
Investment in non-affiliated securities at cost | | $ | 1,165,239,946 | | | $ | 10,208,474 | | | $ | 5,543,736 | | | $ | 5,008,250 | |
Value of securities loaned | | $ | 177,025 | | | $ | — | | | $ | 2,270 | | | $ | — | |
Investment in DWS Government Money Market Series at cost | | $ | 2,883,809 | | | $ | 5,966 | | | $ | 2,715 | | | $ | 2,341 | |
Investment in DWS Government & Agency Securities Portfolio at cost* | | $ | 181,933 | | | $ | — | | | $ | 2,333 | | | $ | — | |
| * | Represents collateral on securities loaned. |
See Notes to Financial Statements.
24 | DBX ETF Trust
Statements of Assets and Liabilities (Continued)
August 31, 2024
| | | | |
| | | Xtrackers S&P
MidCap 400
ESG ETF |
| | |
Assets | | | | |
Investment in non-affiliated securities at value | | $ | 6,078,949 | |
Investment in DWS Government Money Market Series | | | 28,664 | |
Investment in DWS Government & Agency Securities Portfolio* | | | 11 | |
Deposit with broker for futures contracts | | | 1,925 | |
Receivables: | | | | |
Variation margin on futures contracts | | | 211 | |
Dividends | | | 3,940 | |
Interest | | | 126 | |
Total assets | | $ | 6,113,826 | |
| |
Liabilities | | | | |
Payable upon return of securities loaned | | $ | 11 | |
Payables: | | | | |
Investment advisory fees | | | 749 | |
Total liabilities | | | 760 | |
Net Assets, at value | | $ | 6,113,066 | |
| |
Net Assets Consist of | | | | |
Paid-in capital | | $ | 6,097,883 | |
Distributable earnings (loss) | | | 15,183 | |
Net Assets, at value | | $ | 6,113,066 | |
Number of Common Shares outstanding | | | 200,001 | |
Net Asset Value | | $ | 30.57 | |
| |
Investment in non-affiliated securities at cost | | $ | 5,565,510 | |
Value of securities loaned | | $ | 11 | |
Investment in DWS Government Money Market Series at cost | | $ | 28,664 | |
Investment in DWS Government & Agency Securities Portfolio at cost* | | $ | 11 | |
| * | Represents collateral on securities loaned. |
See Notes to Financial Statements.
DBX ETF Trust | 25
Statements of Operations
For the Year Ended August 31, 2024
| | | | | | | | | | | | | | | | |
| | | Xtrackers S&P 500 ESG ETF | | Xtrackers S&P 500 Growth ESG ETF | | Xtrackers S&P 500 Value ESG ETF | | Xtrackers S&P ESG Dividend
Aristocrats ETF |
| | | | | |
Investment Income | | | | | | | | | | | | | | | | |
Unaffiliated dividend income* | | $ | 15,144,325 | | | $ | 75,564 | | | $ | 127,809 | | | $ | 146,032 | |
Income distributions from affiliated funds | | | 112,507 | | | | 283 | | | | 188 | | | | 290 | |
Affiliated securities lending income | | | 105 | | | | — | | | | — | | | | — | |
Payments by affiliates (see note 6) | | | 1,521 | | | | 104 | | | | 200 | | | | 43 | |
Total investment income | | | 15,258,458 | | | | 75,951 | | | | 128,197 | | | | 146,365 | |
| | | | |
Expenses | | | | | | | | | | | | | | | | |
Investment advisory fees | | | 1,157,322 | | | | 12,622 | | | | 8,635 | | | | 7,606 | |
Other expenses | | | 58 | | | | 58 | | | | 58 | | | | 58 | |
Total expenses | | | 1,157,380 | | | | 12,680 | | | | 8,693 | | | | 7,664 | |
Less fees waived (see note 3): | | | | | | | | | | | | | | | | |
Waiver | | | (101,377 | ) | | | (6 | ) | | | (4 | ) | | | (7 | ) |
Net expenses | | | 1,056,003 | | | | 12,674 | | | | 8,689 | | | | 7,657 | |
Net investment income (loss) | | | 14,202,455 | | | | 63,277 | | | | 119,508 | | | | 138,708 | |
| | | | |
Realized and Unrealized Gain (Loss) | | | | | | | | | | | | | | | | |
Net realized gain (loss) from: | | | | | | | | | | | | | | | | |
Investments | | | (15,465,115 | ) | | | (122,734 | ) | | | (59,470 | ) | | | (265,311 | ) |
In-kind redemptions | | | 54,485,765 | | | | 842,598 | | | | 605,373 | | | | 249,886 | |
Futures contracts | | | 540,811 | | | | — | | | | — | | | | (1,189 | ) |
Net realized gain (loss) | | | 39,561,461 | | | | 719,864 | | | | 545,903 | | | | (16,614 | ) |
Net change in unrealized appreciation (depreciation) on: | | | | | | | | | | | | | | | | |
Investments | | | 198,872,727 | | | | 1,494,326 | | | | 514,753 | | | | 560,820 | |
Futures contracts | | | 67,057 | | | | — | | | | — | | | | — | |
Net change in unrealized appreciation (depreciation) | | | 198,939,784 | | | | 1,494,326 | | | | 514,753 | | | | 560,820 | |
| Net realized and unrealized gain (loss) on investments and futures | | | 238,501,245 | | | | 2,214,190 | | | | 1,060,656 | | | | 544,206 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | | $ | 252,703,700 | | | $ | 2,277,467 | | | $ | 1,180,164 | | | $ | 682,914 | |
| | | | |
* Unaffiliated foreign tax withheld | | $ | 3,870 | | | $ | — | | | $ | 24 | | | $ | — | |
See Notes to Financial Statements.
26 | DBX ETF Trust
Statements of Operations (Continued)
For the Year Ended August 31, 2024
| | | | |
| | | Xtrackers S&P
MidCap 400
ESG ETF |
| | |
Investment Income | | | | |
Unaffiliated dividend income | | $ | 136,888 | |
Income distributions from affiliated funds | | | 1,128 | |
Affiliated securities lending income | | | 106 | |
Total investment income | | | 138,122 | |
| |
Expenses | | | | |
Investment advisory fees | | | 13,604 | |
Other expenses | | | 58 | |
Total expenses | | | 13,662 | |
Less fees waived (see note 3): | | | | |
Waiver | | | (26 | ) |
Net expenses | | | 13,636 | |
Net investment income (loss) | | | 124,486 | |
| |
Realized and Unrealized Gain (Loss) | | | | |
Net realized gain (loss) from: | | | | |
Investments | | | (398,135 | ) |
In-kind redemptions | | | 1,953,158 | |
Futures contracts | | | (1,142 | ) |
Net realized gain (loss) | | | 1,553,881 | |
Net change in unrealized appreciation (depreciation) on: | | | | |
Investments | | | (278,685 | ) |
Futures contracts | | | 1,381 | |
Net change in unrealized appreciation (depreciation) | | | (277,304 | ) |
| Net realized and unrealized gain (loss) on investments and futures | | | 1,276,577 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | | $ | 1,401,063 | |
See Notes to Financial Statements.
DBX ETF Trust | 27
Statements of Changes in Net Assets
| | | | | | | | | | | | | | | | |
| | | Xtrackers S&P 500 ESG ETF | | Xtrackers S&P 500 Growth ESG ETF |
| | | | | | | | | For the Period |
| | | | | | | | | November 9, |
| | | Year Ended | | Year Ended | | Year Ended | | 2022(1) to |
| | | August 31, 2024 | | August 31, 2023 | | August 31, 2024 | | August 31, 2023 |
| | | | |
Increase (Decrease) in Net Assets from Operations | | | | | | | | | | | | | | | | |
Net investment income (loss) | | $ | 14,202,455 | | | $ | 11,849,356 | | | $ | 63,277 | | | $ | 51,749 | |
Net realized gain (loss) | | | 39,561,461 | | | | 25,225,191 | | | | 719,864 | | | | 457,486 | |
Net change in net unrealized appreciation (depreciation) | | | 198,939,784 | | | | 83,799,483 | | | | 1,494,326 | | | | 1,103,238 | |
Net increase (decrease) in net assets resulting from operations | | | 252,703,700 | | | | 120,874,030 | | | | 2,277,467 | | | | 1,612,473 | |
Distributions to Shareholders | | | (13,345,373 | ) | | | (11,480,600 | ) | | | (62,788 | ) | | | (37,566 | ) |
Fund Shares Transactions | | | | | | | | | | | | | | | | |
Proceeds from shares sold | | | 520,593,214 | | | | 315,559,828 | | | | 7,653,913 | | | | 7,802,232 | |
Value of shares redeemed | | | (231,988,742 | ) | | | (287,664,724 | ) | | | (3,618,529 | ) | | | (2,810,035 | ) |
Net increase (decrease) in net assets resulting from fund share transactions | | | 288,604,472 | | | | 27,895,104 | | | | 4,035,384 | | | | 4,992,197 | |
Total net increase (decrease) in Net Assets | | | 527,962,799 | | | | 137,288,534 | | | | 6,250,063 | | | | 6,567,104 | |
Net Assets | | | | | | | | | | | | | | | | |
Beginning of period | | | 885,153,682 | | | | 747,865,148 | | | | 6,567,129 | | | | 25 | |
End of period | | $ | 1,413,116,481 | | | $ | 885,153,682 | | | $ | 12,817,192 | | | $ | 6,567,129 | |
| | | | |
Changes in Shares Outstanding | | | | | | | | | | | | | | | | |
Shares outstanding, beginning of period | | | 21,400,001 | | | | 21,000,001 | | | | 200,001 | | | | 1 | |
Shares sold | | | 11,000,000 | | | | 8,450,000 | | | | 200,000 | | | | 300,000 | |
Shares redeemed | | | (5,100,000 | ) | | | (8,050,000 | ) | | | (100,000 | ) | | | (100,000 | ) |
Shares outstanding, end of period | | | 27,300,001 | | | | 21,400,001 | | | | 300,001 | | | | 200,001 | |
| (1) | Commencement of Operations. |
See Notes to Financial Statements.
28 | DBX ETF Trust
Statements of Changes in Net Assets (Continued)
| | | | | | | | | | | | | | | | |
| | | Xtrackers S&P 500 Value ESG ETF | | | Xtrackers S&P ESG Dividend Aristocrats ETF | |
| | | | | | For the Period | | | | | | For the Period | |
| | | | | | November 9, | | | | | | November 9, | |
| | | Year Ended | | | 2022(1) to | | | Year Ended | | | 2022(1) to | |
| | | August 31, 2024 | | | August 31, 2023 | | | August 31, 2024 | | | August 31, 2023 | |
| | | | |
Increase (Decrease) in Net Assets from Operations | | | | | | | | | | | | | | | | |
Net investment income (loss) | | $ | 119,508 | | | $ | 93,322 | | | $ | 138,708 | | | $ | 111,874 | |
Net realized gain (loss) | | | 545,903 | | | | (23,756 | ) | | | (16,614 | ) | | | 9,247 | |
Net change in net unrealized appreciation (depreciation) | | | 514,753 | | | | 320,430 | | | | 560,820 | | | | (9,995 | ) |
Net increase (decrease) in net assets resulting from operations | | | 1,180,164 | | | | 389,996 | | | | 682,914 | | | | 111,126 | |
Distributions to Shareholders | | | (112,622 | ) | | | (72,462 | ) | | | (135,267 | ) | | | (87,024 | ) |
Fund Shares Transactions | | | | | | | | | | | | | | | | |
Proceeds from shares sold | | | 2,852,603 | | | | 5,000,000 | | | | 1,270,790 | | | | 6,282,907 | |
Value of shares redeemed | | | (2,846,044 | ) | | | — | | | | (1,259,701 | ) | | | (1,296,084 | ) |
Net increase (decrease) in net assets resulting from fund share transactions | | | 6,559 | | | | 5,000,000 | | | | 11,089 | | | | 4,986,823 | |
Total net increase (decrease) in Net Assets | | | 1,074,101 | | | | 5,317,534 | | | | 558,736 | | | | 5,010,925 | |
Net Assets | | | | | | | | | | | | | | | | |
Beginning of period | | | 5,317,559 | | | | 25 | | | | 5,010,950 | | | | 25 | |
End of period | | $ | 6,391,660 | | | $ | 5,317,559 | | | $ | 5,569,686 | | | $ | 5,010,950 | |
| | | | |
Changes in Shares Outstanding | | | | | | | | | | | | | | | | |
Shares outstanding, beginning of period | | | 200,001 | | | | 1 | | | | 200,001 | | | | 1 | |
Shares sold | | | 100,000 | | | | 200,000 | | | | 50,000 | | | | 250,000 | |
Shares redeemed | | | (100,000 | ) | | | — | | | | (50,000 | ) | | | (50,000 | ) |
Shares outstanding, end of period | | | 200,001 | | | | 200,001 | | | | 200,001 | | | | 200,001 | |
| (1) | Commencement of Operations. |
See Notes to Financial Statements.
DBX ETF Trust | 29
Statements of Changes in Net Assets (Continued)
| | | | | | | | |
| | | Xtrackers S&P MidCap 400 ESG
ETF |
| | | Year Ended | | Year Ended |
| | | August 31, 2024 | | August 31, 2023 |
| | |
Increase (Decrease) in Net Assets from Operations | | | | | | | | |
Net investment income (loss) | | $ | 124,486 | | | $ | 164,321 | |
Net realized gain (loss) | | | 1,553,881 | | | | (229,076 | ) |
Net change in net unrealized appreciation (depreciation) | | | (277,304 | ) | | | 1,170,609 | |
Net increase (decrease) in net assets resulting from operations | | | 1,401,063 | | | | 1,105,854 | |
Distributions to Shareholders | | | (136,516 | ) | | | (160,493 | ) |
Fund Shares Transactions | | | | | | | | |
Proceeds from shares sold | | | 2,870,020 | | | | — | |
Value of shares redeemed | | | (9,974,426 | ) | | | — | |
Net increase (decrease) in net assets resulting from fund share transactions | | | (7,104,406 | ) | | | — | |
Total net increase (decrease) in Net Assets | | | (5,839,859 | ) | | | 945,361 | |
Net Assets | | | | | | | | |
Beginning of period | | | 11,952,925 | | | | 11,007,564 | |
End of period | | $ | 6,113,066 | | | $ | 11,952,925 | |
| | |
Changes in Shares Outstanding | | | | | | | | |
Shares outstanding, beginning of period | | | 450,001 | | | | 450,001 | |
Shares sold | | | 100,000 | | | | — | |
Shares redeemed | | | (350,000 | ) | | | — | |
Shares outstanding, end of period | | | 200,001 | | | | 450,001 | |
See Notes to Financial Statements.
30 | DBX ETF Trust
Financial Highlights
Xtrackers S&P 500 ESG ETF
| | | | | | | | | | | | | | | | | | | | |
| | | Years Ended August 31, |
| | | | | |
| | | 2024 | | 2023 | | 2022 | | 2021 | | 2020 |
| | | | | |
Selected Per Share Data | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of year | | $ | 41.36 | | | $ | 35.61 | | | $ | 39.93 | | | $ | 31.08 | | | $ | 25.30 | |
Income (loss) from investment operations: | | | | | | | | | | | | | | | | | | | | |
Net investment income (loss)(a) | | | 0.61 | | | | 0.60 | | | | 0.53 | | | | 0.49 | | | | 0.50 | |
Net realized and unrealized gain (loss) | | | 10.38 | | | | 5.72 | | | | (4.32 | ) | | | 8.79 | | | | 5.85 | |
Total from investment operations | | | 10.99 | | | | 6.32 | | | | (3.79 | ) | | | 9.28 | | | | 6.35 | |
Less distributions from: | | | | | | | | | | | | | | | | | | | | |
Net investment income | | | (0.59 | ) | | | (0.57 | ) | | | (0.53 | ) | | | (0.43 | ) | | | (0.57 | ) |
Total from distributions | | | (0.59 | ) | | | (0.57 | ) | | | (0.53 | ) | | | (0.43 | ) | | | (0.57 | ) |
Net Asset Value, end of year | | $ | 51.76 | | | $ | 41.36 | | | $ | 35.61 | | | $ | 39.93 | | | $ | 31.08 | |
Total Return (%)(b) | | | 26.79 | | | | 17.99 | | | | (9.59 | ) | | | 30.16 | | | | 25.71 | |
| | | | | |
Ratios to Average Net Assets and Supplemental Data | | | | | | | | | | | | | | | | | | | | |
Net Assets, end of year ($ millions) | | | 1,413 | | | | 885 | | | | 748 | | | | 745 | | | | 270 | |
Ratio of expenses before fee waiver (%) | | | 0.11 | | | | 0.11 | | | | 0.11 | | | | 0.11 | | | | 0.11 | |
Ratio of expenses after fee waiver (%) | | | 0.10 | | | | 0.10 | | | | 0.10 | | | | 0.10 | | | | 0.11 | |
Ratio of net investment income (loss) (%) | | | 1.34 | | | | 1.63 | | | | 1.37 | | | | 1.41 | | | | 1.86 | |
Portfolio turnover rate (%)(c) | | | 11 | | | | 9 | | | | 6 | | | | 13 | | | | 11 | |
| (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. |
See Notes to Financial Statements.
DBX ETF Trust | 31
Financial Highlights (Continued)
Xtrackers S&P 500 Growth ESG ETF
| | | | | | | | |
| | | Year Ended | | Period Ended |
| | |
| | | 8/31/2024 | | 8/31/2023(a) |
| | |
Selected Per Share Data | | | | | | | | |
Net Asset Value, beginning of period | | $ | 32.84 | | | $ | 25.00 | |
Income (loss) from investment operations: | | | | | | | | |
Net investment income (loss)(b) | | | 0.28 | | | | 0.26 | |
Net realized and unrealized gain (loss) | | | 9.90 | | | | 7.77 | |
Total from investment operations | | | 10.18 | | | | 8.03 | |
Less distributions from: | | | | | | | | |
Net investment income | | | (0.30 | ) | | | (0.19 | ) |
Total from distributions | | | (0.30 | ) | | | (0.19 | ) |
Net Asset Value, end of period | | $ | 42.72 | | | $ | 32.84 | |
Total Return (%)(c) | | | 31.22 | | | | 32.23 | ** |
| | |
Ratios to Average Net Assets and Supplemental Data | | | | | | | | |
Net Assets, end of period ($ millions) | | | 13 | | | | 7 | |
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) (%) | | | 0.75 | | | | 1.11 | * |
Portfolio turnover rate (%)(d) | | | 54 | | | | 57 | ** |
| (a) | For the period November 9, 2022 (commencement of operations) through August 31, 2023. |
| (b) | Based on average shares outstanding during the period. |
| (c) | Total Return would have been lower if certain expenses had not been reimbursed by the Advisor. |
| (d) | Portfolio turnover rate does not include securities received or delivered from processing creations or redemptions. |
See Notes to Financial Statements.
32 | DBX ETF Trust
Financial Highlights (Continued)
Xtrackers S&P 500 Value ESG ETF
| | | | | | | | |
| | | Year Ended | | Period Ended |
| | |
| | | 8/31/2024 | | 8/31/2023(a) |
| | |
Selected Per Share Data | | | | | | | | |
Net Asset Value, beginning of period | | $ | 26.59 | | | $ | 25.00 | |
Income (loss) from investment operations: | | | | | | | | |
Net investment income (loss)(b) | | | 0.60 | | | | 0.47 | |
Net realized and unrealized gain (loss) | | | 5.30 | | | | 1.48 | |
Total from investment operations | | | 5.90 | | | | 1.95 | |
Less distributions from: | | | | | | | | |
Net investment income | | | (0.53 | ) | | | (0.36 | ) |
Total from distributions | | | (0.53 | ) | | | (0.36 | ) |
Net Asset Value, end of period | | $ | 31.96 | | | $ | 26.59 | |
Total Return (%)(c) | | | 22.45 | | | | 7.91 | ** |
| | |
Ratios to Average Net Assets and Supplemental Data | | | | | | | | |
Net Assets, end of period ($ millions) | | | 6 | | | | 5 | |
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) (%) | | | 2.08 | | | | 2.23 | * |
Portfolio turnover rate (%)(d) | | | 42 | | | | 66 | ** |
| (a) | For the period November 9, 2022 (commencement of operations) through August 31, 2023. |
| (b) | Based on average shares outstanding during the period. |
| (c) | Total Return would have been lower if certain expenses had not been reimbursed by the Advisor. |
| (d) | Portfolio turnover rate does not include securities received or delivered from processing creations or redemptions. |
See Notes to Financial Statements.
DBX ETF Trust | 33
Financial Highlights (Continued)
Xtrackers S&P ESG Dividend Aristocrats ETF
| | | | | | | | |
| | | Year Ended | | Period Ended |
| | |
| | | 8/31/2024 | | 8/31/2023(a) |
| | |
Selected Per Share Data | | | | | | | | |
Net Asset Value, beginning of period | | $ | 25.05 | | | $ | 25.00 | |
Income (loss) from investment operations: | | | | | | | | |
Net investment income (loss)(b) | | | 0.69 | | | | 0.56 | |
Net realized and unrealized gain (loss) | | | 2.79 | | | | (0.07 | ) |
Total from investment operations | | | 3.48 | | | | 0.49 | |
Less distributions from: | | | | | | | | |
Net investment income | | | (0.68 | ) | | | (0.44 | ) |
Total from distributions | | | (0.68 | ) | | | (0.44 | ) |
Net Asset Value, end of period | | $ | 27.85 | | | $ | 25.05 | |
Total Return (%)(c) | | | 14.15 | | | | 1.99 | ** |
| | |
Ratios to Average Net Assets and Supplemental Data | | | | | | | | |
Net Assets, end of period ($ millions) | | | 6 | | | | 5 | |
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) (%) | | | 2.74 | | | | 2.74 | * |
Portfolio turnover rate (%)(d) | | | 36 | | | | 29 | ** |
| (a) | For the period November 9, 2022 (commencement of operations) through August 31, 2023. |
| (b) | Based on average shares outstanding during the period. |
| (c) | Total Return would have been lower if certain expenses had not been reimbursed by the Advisor. |
| (d) | Portfolio turnover rate does not include securities received or delivered from processing creations or redemptions. |
See Notes to Financial Statements.
34 | DBX ETF Trust
Financial Highlights (Continued)
Xtrackers S&P MidCap 400 ESG ETF
| | | | | | | | | | | | | | | | |
| | | Years Ended August 31, | | Period Ended |
| | | | |
| | | 2024 | | 2023 | | 2022 | | 8/31/2021(a) |
| | | | |
Selected Per Share Data | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 26.56 | | | $ | 24.46 | | | $ | 27.39 | | | $ | 25.00 | |
Income (loss) from investment operations: | | | | | | | | | | | | | | | | |
Net investment income (loss)(b) | | | 0.38 | | | | 0.37 | | | | 0.32 | | | | 0.14 | |
Net realized and unrealized gain (loss) | | | 4.02 | | | | 2.09 | | | | (2.94 | ) | | | 2.33 | |
Total from investment operations | | | 4.40 | | | | 2.46 | | | | (2.62 | ) | | | 2.47 | |
Less distributions from: | | | | | | | | | | | | | | | | |
Net investment income | | | (0.39 | ) | | | (0.36 | ) | | | (0.31 | ) | | | (0.08 | ) |
Total from distributions | | | (0.39 | ) | | | (0.36 | ) | | | (0.31 | ) | | | (0.08 | ) |
Net Asset Value, end of period | | $ | 30.57 | | | $ | 26.56 | | | $ | 24.46 | | | $ | 27.39 | |
Total Return (%)(c) | | | 16.70 | | | | 10.18 | | | | (9.64 | ) | | | 9.92 | ** |
| | | | |
Ratios to Average Net Assets and Supplemental Data | | | | | | | | | | | | | | | | |
Net Assets, end of period ($ millions) | | | 6 | | | | 12 | | | | 11 | | | | 11 | |
Ratio of expenses before fee waiver (%) | | | 0.15 | | | | 0.15 | | | | 0.15 | | | | 0.15 | * |
Ratio of expenses after fee waiver (%) | | | 0.15 | | | | 0.15 | | | | 0.15 | | | | 0.15 | * |
Ratio of net investment income (loss) (%) | | | 1.38 | | | | 1.45 | | | | 1.24 | | | | 1.00 | * |
Portfolio turnover rate (%)(d) | | | 35 | | | | 39 | | | | 41 | | | | 27 | ** |
| (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. |
See Notes to Financial Statements.
DBX ETF Trust | 35
Notes to Financial Statements
1. Organization
DBX ETF Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end registered management investment company organized as a Delaware statutory trust.
As of August 31, 2024, the Trust consists of thirty-nine investment series of exchange-traded funds (“ETFs”) (each a “Fund” and collectively, the “Funds”) in operation and trading. These financial statements report on the Funds listed below:
Xtrackers S&P 500 ESG ETF
Xtrackers S&P 500 Growth ESG ETF
Xtrackers S&P 500 Value ESG ETF
Xtrackers S&P ESG Dividend Aristocrats ETF
Xtrackers S&P MidCap 400 ESG ETF
DBX Advisors LLC (“DBX” or the “Advisor”), an indirect, wholly-owned subsidiary of DWS Group GmbH & Co. KGaA (“DWS Group”), serves as investment advisor to the Funds and has overall responsibility for the general management and administration of the Funds, subject to the supervision of the Funds’ Board of Trustees (“Board”).
Xtrackers S&P 500 ESG ETF, Xtrackers S&P MidCap 400 ESG ETF offers shares that are listed and traded on the NYSE Arca, Inc. (“NYSE Arca”). Xtrackers S&P 500 Growth ESG ETF, Xtrackers S&P 500 Value ESG ETF and Xtrackers S&P ESG Dividend Aristocrats ETF offers shares that are listed and traded on the Cboe BZX Exchange, Inc. (“Cboe”). Unlike conventional mutual funds, each Fund issues and redeems shares on a continuous basis, at net asset value (“NAV”), only in large specified lots consisting of 50,000 shares, each called a “Creation Unit”, to authorized participants who have entered into agreements with the Funds’ distributor. Shares are not individually redeemable securities of the Funds, and owners of the shares may acquire those shares from the Funds, or tender such shares for redemption to the Funds, in Creation Units only.
The investment objective of each Fund is to seek investment results that correspond generally to the performance, before fees and expenses, of a particular index (the “Underlying Index”). The underlying indices for the Funds are:
| | |
| Fund | | Underlying Index |
| Xtrackers S&P 500 ESG ETF | | S&P 500 ESG Index |
| Xtrackers S&P 500 Growth ESG ETF | | S&P 500 Growth ESG Index |
| Xtrackers S&P 500 Value ESG ETF | | S&P 500 Value ESG Index |
| Xtrackers S&P ESG Dividend Aristocrats ETF | | S&P ESG High Yield Dividend Aristocrats Index |
| Xtrackers S&P MidCap 400 ESG ETF | | S&P MidCap 400 ESG Index |
S&P 500 ESG Index is a market capitalization weighted index that is designed to measure the performance of companies meeting environmental, social and governance (ESG) criteria, while maintaining similar overall industry group weights as the S&P 500 Index. Under normal circumstances, the Underlying Index is rebalanced annually, effective after the close of the last business day of April. The Fund rebalances its portfolio in accordance with the Underlying Index, and therefore, any changes to the Underlying Index’s rebalance schedule will result in corresponding changes to the Fund’s rebalance schedule.
S&P 500 Growth ESG Index is a market capitalization weighted index that provides exposure to companies with high environmental, social and governance (ESG) performance relative to their sector peers, while maintaining similar overall industry group weights as the S&P 500 Growth Index. Under normal circumstances, the Underlying Index is rebalanced annually, effective after the close of the last business day of April. In addition, the Underlying Index reweights quarterly after the close of business on the last working day of July, October and January. The Fund rebalances/reweights its portfolio in accordance with the Underlying Index, and therefore, any changes to the Underlying Index’s rebalance/reweighting schedule will result in corresponding changes to the Fund’s rebalance/reweighting schedule.
S&P 500 Value ESG Index is a market capitalization weighted index that provides exposure to companies with high environmental, social and governance (ESG) performance relative to their sector peers, while maintaining similar overall industry group weights as the S&P 500 Value Index. Under normal circumstances, the Underlying Index is rebalanced annually, effective after the close of the last business day of April. In addition, the Underlying Index reweights quarterly after the close of business on the last working day of July, October and January. The Fund rebalances/reweights its portfolio in accordance with the Underlying Index, and therefore, any changes to the Underlying Index’s rebalance/reweighting schedule will result in corresponding changes to the Fund’s rebalance/reweighting schedule.
36 | DBX ETF Trust
S&P ESG High Yield Dividend Aristocrats Index is designed to measure the performance of constituents from the S&P High Yield Dividend Aristocrats Index that meet certain environmental, social and governance (“ESG”) criteria. The S&P High Yield Dividend Aristocrats Index measures the performance of companies within the S&P Composite 1500 Index that have followed a policy of consistently increasing dividends every year for at least 20 years. Under normal circumstances, the Underlying Index is rebalanced annually, effective after the close of the last business day of January. Constituent weights are updated quarterly after the close of the last business day in April, July and October. The Fund rebalances its portfolio in accordance with the Underlying Index, and therefore, any changes to the Underlying Index’s rebalance schedule will result in corresponding changes to the Fund’s rebalance schedule.
S&P MidCap 400 ESG Index is a market capitalization weighted index that is designed to measure the performance of companies meeting environmental, social and governance (ESG) criteria, while maintaining similar overall industry group weights as the S&P MidCap 400 Index. Under normal circumstances, the Underlying Index is rebalanced annually, effective after the close of the last business day of April. The Fund rebalances its portfolio in accordance with the Underlying Index, and, therefore, any changes to the Underlying Index’s rebalance schedule will result in corresponding changes to the Fund’s rebalance schedule.
Each Fund is entitled to use its respective Underlying Index pursuant to a licensing agreement between its respective index provider and DBX. There is no direct charge to the Funds in connection with these licensing agreements.
Xtrackers S&P MidCap 400 ESG ETF is a diversified series of the Trust. Xtrackers S&P 500 ESG ETF, Xtrackers S&P 500 Growth ESG ETF, Xtrackers S&P 500 Value ESG ETF and Xtrackers S&P ESG Dividend Aristocrats ETF are non-diversified and are not limited by the 1940 Act with regard to the percentage of their assets that may be invested in the securities of a single issuer. This means the securities of a particular issuer (or securities of issuers in particular industries) may dominate the Underlying Index of the Fund and, consequently, the Fund’s investment portfolio. This may adversely affect the Fund’s performance or subject the Fund’s shares to greater price volatility than that experienced by more diversified investment companies. Each Fund may change its diversification status over time and then change it back again, without shareholder approval, solely as a result of a change in relative market capitalization or index weighting of one or more constituents of the index each Fund tracks.
Pursuant to the Trust’s organizational documents, the Trust’s officers and trustees are indemnified against certain liabilities that may arise out of the performance of their duties to the Funds. Additionally, in the normal course of business the Trust enters into contracts that contain a variety of representations that provide indemnification for certain liabilities. The Trust’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Funds that have not yet occurred. However, the Trust expects the risk of loss to be remote.
2. Significant Accounting Policies
The financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”), which require management to make certain estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. Each Fund qualifies as an investment company under Topic 946 of the Accounting Standards Codification of U.S. GAAP. The following is a summary of significant accounting policies followed by the Funds.
Security Valuation The NAV of each Fund’s shares is calculated each business day as of the close of regular trading on the New York Stock Exchange, generally 4:00 p.m. Eastern Time. NAV per share is calculated by dividing a Fund’s net assets by the number of Fund shares outstanding.
The Funds’ Board has designated the Advisor as the valuation designee for the Funds pursuant to Rule 2a-5 under the 1940 Act. The Advisor’s Pricing Committee (the “Pricing Committee”) typically values securities using readily available market quotations or prices supplied by independent pricing services (which are considered fair values under Rule 2a-5). The Advisor has adopted fair valuation procedures that provide methodologies for fair valuing securities.
Various inputs are used in determining the value of the Funds’ investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, and credit risk). Level 3 includes significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
DBX ETF Trust | 37
Equity securities and ETFs are valued at the most recent sale price or official closing price reported on the exchange (U.S. or foreign) or over-the-counter market on which they trade. Securities or ETFs for which no sales are reported are valued at the calculated mean between the most recent bid and asked quotations on the relevant market or, if a mean cannot be determined, at the most recent bid quotation. Equity securities and ETFs are generally categorized as Level 1.
Investments in open-end investment companies are valued at their NAV each business day and are categorized as Level 1.
Futures contracts are generally valued at the settlement prices established each day on the exchange on which they are traded and are categorized as Level 1.
Securities and other assets for which market quotations are not readily available or for which the above valuation procedures are deemed not to reflect fair value are valued in a manner that is intended to reflect their fair value as determined in accordance with procedures approved by the Pricing Committee and are generally categorized as Level 3. In accordance with the Funds’ valuation procedures, factors considered in determining value may include, but are not limited to, the type of the security; the size of the holding; the initial cost of the security; the existence of any contractual restrictions on the security’s disposition; the price and extent of public trading in similar securities of the issuer or of comparable companies; quotations or evaluated prices from broker-dealers and/or pricing services; information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities); an analysis of the company’s or issuer’s financial statements; an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold; and with respect to debt securities, the maturity, coupon, creditworthiness, currency denomination and the movement of the market in which the security is normally traded. The value determined under these procedures may differ from published values for the same securities.
Fair value pricing could result in a difference between the prices used to calculate a Fund’s NAV and the prices used by the Fund’s Underlying Index, which in turn could result in a difference between the Fund’s performance and the performance of the Fund’s Underlying Index.
Disclosure about the classification of the fair value measurements is included in a table following the Fund’s Schedule of
Investments.
Cash. Cash consists of cash held at banks and is on deposit with major financial institutions.
Investment Transactions and Investment Income. Investment transactions are recorded as of the date that the securities are purchased or sold (trade date). Realized gains and losses from the sale or disposition of securities are calculated on the identified cost-method. Dividend income is net of any foreign taxes withheld at source. Certain dividends from foreign securities may be recorded subsequent to the ex-dividend date as soon as the Fund is informed of such dividends. Interest income is recorded on the accrual basis.
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.
The Funds file tax returns with the Internal Revenue Service, the State of New York, and various other states. Each of the tax years in the four-year period ended August 31, 2024 (or since the Fund’s inception if the Fund commenced operations less than four years prior to August 31, 2024), remains subject to examination by taxing authorities.
The Funds recognize interest and penalties, if any, related to uncertain tax positions as income tax expense on the Statements of Operations. For the year ended August 31, 2024, the Funds did not incur any interest or penalties.
38 | DBX ETF Trust
As of August 31, 2024, the components of accumulated earnings (losses) on a tax basis were as follows:
| | | | | | | | | | | | | | | | |
| | | | | | | Unrealized | | Total |
| | | Undistributed | | Capital and Other | | Appreciation | | Accumulated |
| | | Ordinary Income* | | Gains (Losses) | | (Depreciation) | | Earnings (Losses) |
Xtrackers S&P 500 ESG ETF | | $ | 3,450,255 | | | $ | (14,611,646 | ) | | $ | 229,436,990 | | | $ | 218,275,599 | |
Xtrackers S&P 500 Growth ESG ETF | | | 14,672 | | | | (83,035 | ) | | | 2,499,539 | | | | 2,431,176 | |
Xtrackers S&P 500 Value ESG ETF | | | 27,746 | | | | (51,896 | ) | | | 804,876 | | | | 780,726 | |
Xtrackers S&P ESG Dividend Aristocrats ETF | | | 28,291 | | | | (300,208 | ) | | | 510,484 | | | | 238,567 | |
Xtrackers S&P MidCap 400 ESG ETF | | | 22,242 | | | | (448,354 | ) | | | 441,295 | | | | 15,183 | |
The tax character of dividends and distributions declared for the years ended August 31, 2024 and August 31, 2023 were as
follows:
| | | | |
| | | Year Ended August |
| | | 31, 2024 |
| | | Ordinary Income* |
Xtrackers S&P 500 ESG ETF | | $ | 13,345,373 | |
Xtrackers S&P 500 Growth ESG ETF | | | 62,788 | |
Xtrackers S&P 500 Value ESG ETF | | | 112,622 | |
Xtrackers S&P ESG Dividend Aristocrats ETF | | | 135,267 | |
Xtrackers S&P MidCap 400 ESG ETF | | | 136,516 | |
| | | | |
| | | Year Ended August |
| | | 31, 2023 |
| | | Ordinary Income* |
Xtrackers S&P 500 ESG ETF | | $ | 11,480,600 | |
Xtrackers S&P 500 Growth ESG ETF | | | 37,566 | |
Xtrackers S&P 500 Value ESG ETF | | | 72,462 | |
Xtrackers S&P ESG Dividend Aristocrats ETF | | | 87,024 | |
Xtrackers S&P MidCap 400 ESG ETF | | | 160,493 | |
* For tax purposes short-term capital gain distributions are considered ordinary income distributions.
At August 31, 2024, for Federal income tax purposes, the Funds have capital loss carryforwards available as shown in the table below, to the extent provided by regulations, to offset future capital gains for an unlimited period. To the extent that these loss carryforwards are used to offset future capital gains, it is probable that the capital gains so offset will not be distributed to shareholders.
| | | | | | | | | | | | |
| | | Short-Term | | Long-Term | | Total Amount |
Xtrackers S&P 500 ESG ETF | | $ | 4,827,577 | | | $ | 9,780,992 | | | $ | 14,608,569 | |
Xtrackers S&P 500 Growth ESG ETF | | | 60,669 | | | | 22,366 | | | | 83,035 | |
Xtrackers S&P 500 Value ESG ETF | | | 6,519 | | | | 45,317 | | | | 51,836 | |
Xtrackers S&P ESG Dividend Aristocrats ETF | | | 117,488 | | | | 182,720 | | | | 300,208 | |
Xtrackers S&P MidCap 400 ESG ETF | | | 86,883 | | | | 361,471 | | | | 448,354 | |
For the fiscal year ended August 31, 2024, the effect of permanent “book/tax” reclassifications to the components of net assets are included below. These differences are primarily due to redemptions-in-kind.
| | | | | | | | |
| | | Distributable | | |
| | | earnings (loss) | | Paid-In Capital |
Xtrackers S&P 500 ESG ETF | | $ | (49,986,236 | ) | | $ | 49,986,236 | |
Xtrackers S&P 500 Growth ESG ETF | | | (836,925 | ) | | | 836,925 | |
Xtrackers S&P 500 Value ESG ETF | | | (604,350 | ) | | | 604,350 | |
Xtrackers S&P ESG Dividend Aristocrats ETF | | | (245,450 | ) | | | 245,450 | |
Xtrackers S&P MidCap 400 ESG ETF | | | (1,533,774 | ) | | | 1,533,774 | |
DBX ETF Trust | 39
As of August 31, 2024, 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:
| | | | | | | | | | | | | | | | |
| | | | | Net Unrealized | | Aggregate Gross | | Aggregate Gross |
| | | | | Appreciation | | Unrealized | | Unrealized |
| | | Aggregate Tax Cost | | (Depreciation) | | Appreciation | | (Depreciation) |
Xtrackers S&P 500 ESG ETF | | $ | 1,182,183,809 | | | $ | 229,436,990 | | | $ | 268,421,487 | | | $ | (38,984,497 | ) |
Xtrackers S&P 500 Growth ESG ETF | | | 10,312,465 | | | | 2,499,539 | | | | 2,572,319 | | | | (72,780 | ) |
Xtrackers S&P 500 Value ESG ETF | | | 5,579,091 | | | | 804,876 | | | | 969,909 | | | | (165,033 | ) |
Xtrackers S&P ESG Dividend Aristocrats ETF | | | 5,050,932 | | | | 510,484 | | | | 704,178 | | | | (193,694 | ) |
Xtrackers S&P MidCap 400 ESG ETF | | | 5,666,329 | | | | 441,295 | | | | 837,757 | | | | (396,462 | ) |
Foreign Taxes. The Funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, capital gains on investments, certain foreign currency transactions or other corporate events. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which the Funds invest. These foreign taxes, if any, are paid by the Funds and are reflected in their Statements of Operations as follows: foreign taxes withheld at source are presented as a reduction of income, foreign taxes on capital gains from sales of investments and foreign currency transactions are included in their respective net realized gain (loss) categories, and deferred foreign taxes on unrealized gains are included in net change in unrealized appreciation (depreciation). Receivables and payables related to foreign taxes as of August 31, 2024, 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. National Financial Services LLC (Fidelity Agency Lending) serves as securities lending agent for Xtrackers S&P MidCap 400 ESG ETF and lends securities to certain financial institutions under the terms of its securities lending agreements. Prior to September 27, 2023, the Bank of New York Mellon served as securities lending agent for Xtrackers S&P 500 ESG ETF, Xtrackers S&P 500 Growth ESG ETF, Xtrackers S&P 500 Value ESG ETF and Xtrackers S&P ESG Dividend Aristocrats ETF. Effective September 27, 2023, Deutsche Bank AG serves as securities lending agent for Xtrackers S&P 500 ESG ETF, Xtrackers S&P 500 Growth ESG ETF, Xtrackers S&P 500 Value ESG ETF and Xtrackers S&P ESG Dividend Aristocrats ETF and lends securities to certain financial institutions under the terms of its securities lending agreements. 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 or liquid, unencumbered assets having a value at least equal to the value of the securities loaned. When the collateral falls below specified amounts, the securities lending agent will use its best effort to obtain additional collateral on the next business day to meet required amounts under the securities lending agreement. During the year ended August 31, 2024, the Funds invested the cash collateral, if any, into a joint trading account in affiliated money market funds, including DWS Government & Agency Securities Portfolio, managed by DWS Investment Management Americas, Inc. DWS Investment Management Americas, Inc. receives a management/ administration fee (0.13% annualized effective rate as of August 31, 2024) on the cash collateral invested in DWS Government & Agency Securities Portfolio. The Funds receive compensation for lending their securities either in the form of fees or by earning interest on invested cash collateral, net of borrower rebates and fees paid to a securities lending agent. Either the Funds or the borrower may terminate the loan at any time and the borrower, after notice, is required to return borrowed securities within a standard time period. There may be risks of delay and costs in recovery of securities or even loss of rights in the collateral should the borrower of the securities fail financially. If the Funds are not able to recover securities lent, the Funds may sell the collateral and purchase a replacement investment in the market, incurring the risk that the value of the replacement security is greater than the value of the collateral. The Funds are also subject to all investment risks associated with the reinvestment of any cash collateral received, including, but not limited to, interest rate, credit and liquidity risk associated with such investments.
40 | DBX ETF Trust
As of August 31, 2024, the Funds listed below had securities on loan. The value of the related collateral exceeded the value of the securities loaned at period end.
| | | | | | | | | | | | | | | | | | | | |
| Remaining Contractual Maturity of the Agreements, as of August 31, 2024 | | | | | | | | | | | | |
| | | Overnight | | | | | | Between | | | | | | |
| | | and | | | | | | 30 & 90 | | | | | | |
| Securities Lending Transactions | | Continuous | | | <30 Days | | | Days | | | >90 Days | | | Total |
Xtrackers S&P 500 ESG ETF | | | | | | | | | | | | | | | | | |
Common Stocks | | $ | 181,933 | | | $ | — | | | $ | — | | | $ | — | | | $ | 181,933 | |
Gross amount of recognized liabilities and cash collateral for securities lending transactions | | | | | | | $ | 181,933 | |
Xtrackers S&P 500 Value ESG ETF | | | | | | | | | | | | | | | | | | | | |
Common Stocks | | $ | 2,333 | | | $ | — | | | $ | — | | | $ | — | | | $ | 2,333 | |
Gross amount of recognized liabilities and cash collateral for securities lending transactions | | | | | | | | | | | $ | 2,333 | |
Xtrackers S&P MidCap 400 ESG ETF | | | | | | | | | | | | | | | | | | | | |
Common Stocks | | $ | 11 | | | $ | — | | | $ | — | | | $ | — | | | $ | 11 | |
Gross amount of recognized liabilities and cash collateral for securities lending transactions | | | | | | | | | | | $ | 11 | |
As of August 31, 2024, Xtrackers S&P 500 Growth ESG ETF and Xtrackers S&P ESG Dividend Aristocrats ETF had no securities on loan.
Derivatives
Futures Contracts. Each Fund may enter into futures contracts. These futures contracts will be used to simulate investment in the respective Underlying Index, to facilitate trading or to reduce transaction costs. Each Fund will enter into futures contracts that are traded on a U.S. or non-U.S. exchange. No Fund will use futures for speculative purposes. Futures contracts provide for the future sale by one party and purchase by another party of a specified amount of a specific instrument or index at a specified future time and at a specified price. For the year ended August 31, 2024, Xtrackers S&P 500 ESG ETF, Xtrackers S&P ESG Dividend Aristocrats ETF and Xtrackers S&P MidCap 400 ESG ETF utilized futures in order to simulate investment in the Funds’ Underlying Index. To the extent required by law, liquid assets committed to futures contracts will be maintained.
At the time each Fund enters into a futures contract, each Fund deposits and maintains as collateral an initial margin with the broker, as required by the exchange on which the transaction is affected. Pursuant to the contract, each Fund agrees to receive from or pay to the broker an amount of cash equal to the daily fluctuation in the value of the contract. Such receipts or payments are known as variation margin and are recorded by each Fund as unrealized gains or losses. Risks may arise from the potential inability of a counterparty to meet the terms of the contract. The credit/counterparty risk for exchange-traded futures contracts is generally less than privately negotiated futures contracts, since the clearinghouse, which is the issuer or counterparty to each exchange-traded future, provides a guarantee of performance. The guarantee is supported by a daily payment system (i.e., margin requirements).
Use of long futures contracts subjects each Fund to risk of loss in excess of the amounts shown on the Statement of Assets and Liabilities, up to the notional value of the futures contracts. Use of short futures contracts subjects each Fund to unlimited risk of loss. Under some circumstances, futures exchanges may establish daily limits on the amount that the price of a futures contract can vary from the previous day’s settlement price, which could effectively prevent liquidation of unfavorable positions.
A summary of the open futures contracts as of August 31, 2024 is included in a table following the Funds’ Schedule of Investments.
DBX ETF Trust | 41
The following tables summarize the value of the Funds’ derivative instruments held as of August 31, 2024 and the related location in the accompanying Statement of Assets and Liabilities, presented by primary underlying risk exposure:
| | | | | | | | | | | | |
| | | Asset Derivatives | | | | | Liability Derivatives | | |
Xtrackers S&P 500 ESG ETF | | | | |
Equity contracts | | Unrealized appreciation on futures contracts* | | $ | 89,580 | | | Unrealized depreciation on futures contracts* | | $ | — | |
| | | Total | | $ | 89,580 | | | Total | | $ | — | |
| | | | | | | | | | | | |
Xtrackers S&P MidCap 400 ESG ETF | | | | |
Equity contracts | | Unrealized appreciation on futures contracts* | | $ | 1,381 | | | Unrealized depreciation on futures contracts* | | $ | — | |
| | | Total | | $ | 1,381 | | | Total | | $ | — | |
| * | Futures contracts are reported in the table above using cumulative appreciation or cumulative depreciation of futures contracts, as reported in the futures contracts table following each Fund’s Schedule of Investments; within the Statement of Assets and Liabilities, the variation margin at period end is reported as Receivable (Payable) variation margin on futures contracts. |
Additionally, the amount of realized and unrealized gains and losses on derivative instruments recognized in the Funds’ earnings during the year ended August 31, 2024 and the related location in the accompanying Statement of Operations is summarized in the following tables by primary underlying risk exposure:
| | | | |
| | | Futures Contracts |
| Net Realized Gain (Loss) from: | | — Equity Contracts |
Xtrackers S&P 500 ESG ETF | | $ | 540,811 | |
Xtrackers S&P ESG Dividend Aristocrats ETF | | | (1,189 | ) |
Xtrackers S&P MidCap 400 ESG ETF | | | (1,142 | ) |
| | | | |
| | | Futures Contracts |
| Net Change in Unrealized Appreciation (Depreciation) on: | | — Equity Contracts |
Xtrackers S&P 500 ESG ETF | | $ | 67,057 | |
Xtrackers S&P MidCap 400 ESG ETF | | | 1,381 | |
For the year ended August 31, 2024 the average monthly volume of derivatives was as follows:
| | | | |
| | | Futures Contracts |
| | | (Contract Value) |
Xtrackers S&P 500 ESG ETF | | $ | 2,527,065 | |
Xtrackers S&P ESG Dividend Aristocrats ETF | | | 1,949 | |
Xtrackers S&P MidCap 400 ESG ETF | | | 20,769 | |
Affiliated Cash Management Vehicles. The Funds may invest uninvested cash balances in DWS Government Money
Market Series, an affiliated money market fund managed by DWS Investment Management Americas, Inc. (“DIMA”), also an indirect, wholly owned subsidiary of DWS Group GmbH & Co. KGaA. DWS Government Money Market Series 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 and seeks to maintain a stable net asset value. The Funds indirectly bear their proportionate share of the expenses of their investment in DWS Government Money Market Series. 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 DWS Government Money Market Series.
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.
42 | DBX ETF Trust
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 (through August 12, 2024 for the Xtrackers S&P 500 ESG ETF), computed and accrued daily and payable monthly, at an annual rate equal to:
| | | | |
| | | Unitary Advisory |
| | | Fee |
Xtrackers S&P 500 ESG ETF | | | 0.11 | % |
Xtrackers S&P 500 Growth ESG ETF | | | 0.15 | % |
Xtrackers S&P 500 Value ESG ETF | | | 0.15 | % |
Xtrackers S&P ESG Dividend Aristocrats ETF | | | 0.15 | % |
Xtrackers S&P MidCap 400 ESG ETF | | | 0.15 | % |
Effective August 13, 2024, for its investment advisory services to the Fund below, the Advisor was entitled to receive a unitary advisory fee based on the Fund’s average daily net assets, computed and accrued daily and payable monthly, at an annual rate equal to:
| | | | |
| | | Unitary Advisory |
| | | Fee |
Xtrackers S&P 500 ESG ETF | | | 0.10 | % |
The Advisor for the Xtrackers S&P 500 ESG ETF had contractually agreed through August 12, 2024 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. For the year ended August 31, 2024, the Advisor waived $98,895 of expenses to the Fund.
The Advisor for the Funds below has contractually agreed to waive a portion of its unitary advisory fee in an amount equal to the acquired fund’s fees and expenses attributable to the Funds’ investments in affiliated Funds. For the year ended August 31, 2024, the Advisor waived expenses of the Funds as follows:
| | | | |
| | | Expenses Waived |
Xtrackers S&P 500 ESG ETF | | $ | 2,482 | |
Xtrackers S&P 500 Growth ESG ETF | | | 6 | |
Xtrackers S&P 500 Value ESG ETF | | | 4 | |
Xtrackers S&P ESG Dividend Aristocrats ETF | | | 7 | |
Xtrackers S&P MidCap 400 ESG ETF | | | 26 | |
Out of the unitary advisory fee, the Advisor pays substantially all expenses of each Fund, including the cost of transfer agency, custody, fund administration, legal, audit and other services, and expenses of the Independent Trustees. Each Fund is responsible for the payment of interest expense, acquired fund fees and expenses, taxes, brokerage expenses, distribution fees or expenses, if any, litigation expenses and extraordinary expenses.
The Bank of New York Mellon, a wholly-owned subsidiary of The Bank of New York Mellon Corporation, serves as Administrator, Custodian, Accounting Agent and Transfer Agent for each Fund.
ALPS Distributors, Inc. (the “Distributor”) serves as the distributor of Creation Units for each Fund on an agency basis. The
Distributor does not maintain a secondary market in shares of the Funds.
The Board of Trustees is currently comprised of three Independent Trustees. The Advisor paid retainer fees and attendance fees to each Independent Trustee; retainer fees to the Chairman of the Board of Trustees and Chairman of the Audit Committee; and attendance fees to each member of the Audit Committee (which is comprised of all of the Funds’ Independent Trustees).
DBX ETF Trust | 43
Affiliated Securities Lending Agent Fees. Effective September 27, 2023, Deutsche Bank AG serves as securities lending agent for the funds listed below. For the period ended August 31, 2024, the Funds incurred securities lending agent fees to Deutsche Bank AG as follows:
| | | | |
| | | Securities Lending |
| | | Agent Fees |
Xtrackers S&P 500 ESG ETF | | $ | 9 | |
4. Investment Portfolio Transactions
For the year ended August 31, 2024, the cost of investments purchased and proceeds from sale of investments (excluding in-kind transactions and short-term investments) were as follows:
| | | | | | | | |
| | | Purchases | | Sales |
Xtrackers S&P 500 ESG ETF | | $ | 118,334,959 | | | $ | 119,677,021 | |
Xtrackers S&P 500 Growth ESG ETF | | | 4,661,298 | | | | 4,707,368 | |
Xtrackers S&P 500 Value ESG ETF | | | 2,560,801 | | | | 2,470,465 | |
Xtrackers S&P ESG Dividend Aristocrats ETF | | | 1,906,256 | | | | 1,873,492 | |
Xtrackers S&P MidCap 400 ESG ETF | | | 3,201,538 | | | | 3,230,279 | |
For the year ended August 31, 2024, the cost of in-kind purchases and proceeds from in-kind sales were as follows:
| | | | | | | | |
| | | Purchases | | Sales |
Xtrackers S&P 500 ESG ETF | | $ | 520,587,339 | | | $ | 230,845,373 | |
Xtrackers S&P 500 Growth ESG ETF | | | 7,604,369 | | | | 3,524,152 | |
Xtrackers S&P 500 Value ESG ETF | | | 2,779,609 | | | | 2,857,574 | |
Xtrackers S&P ESG Dividend Aristocrats ETF | | | 1,270,787 | | | | 1,288,457 | |
Xtrackers S&P MidCap 400 ESG ETF | | | 2,870,047 | | | | 9,960,367 | |
5. Fund Share Transactions
As of August 31, 2024, 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. Payments by Affiliates
During the year ended August 31, 2024, the Advisor and the securities lending agent, Deutsche Bank AG, agreed to reimburse the Funds and amounts below for securities lending income in connection to an operational delay with the lending agent transition (see Securities Lending note 2.)
The amounts reimbursed were less than 0.01% of the Funds’ average net assets, thus having no impact on the Funds’ total return.
| | | | |
| DBX Advisors LLC | | Amount |
Xtrackers S&P 500 ESG ETF | | $ | 1,014 | |
Xtrackers S&P 500 Growth ESG ETF | | | 69 | |
Xtrackers S&P 500 Value ESG ETF | | | 133 | |
Xtrackers S&P ESG Dividend Aristocrats ETF | | | 29 | |
44 | DBX ETF Trust
| | | | |
| Deutsche Bank AG | | Amount |
Xtrackers S&P 500 ESG ETF | | $ | 507 | |
Xtrackers S&P 500 Growth ESG ETF | | | 35 | |
Xtrackers S&P 500 Value ESG ETF | | | 67 | |
Xtrackers S&P ESG Dividend Aristocrats ETF | | | 14 | |
7. Concentration of Ownership
From time to time, the Funds may have a concentration of several shareholder accounts holding a significant percentage of shares outstanding. Investment activities of these shareholders could have a material impact on the Fund. At August 31,
2024, there was one affiliated shareholder account for each of the funds listed below holding a significant percentage of the shares outstanding:
| | | | |
| | | Approximate |
| | | Percent of |
| | | Outstanding |
| | | Shares Held |
Xtrackers S&P 500 Growth ESG ETF | | | 60 | % |
Xtrackers S&P 500 Value ESG ETF | | | 90 | % |
Xtrackers S&P ESG Dividend Aristocrats ETF | | | 65 | % |
DBX ETF Trust | 45
Report of Independent Registered Public Accounting Firm
To the Shareholders of
Xtrackers S&P 500 ESG ETF, Xtrackers S&P MidCap 400 ESG ETF, Xtrackers S&P ESG Dividend Aristocrats ETF, Xtrackers S&P 500 Growth ESG ETF and Xtrackers S&P 500 Value ESG ETF and the Board of Trustees of DBX ETF Trust
Opinion on the Financial Statements
We have audited the accompanying statements of assets and liabilities of Xtrackers S&P 500 ESG ETF, Xtrackers S&P MidCap 400 ESG ETF, Xtrackers S&P ESG Dividend Aristocrats ETF, Xtrackers S&P 500 Growth ESG ETF, and Xtrackers S&P 500 Value ESG ETF (collectively referred to as the “Funds”), (five of the funds constituting DBX ETF Trust (the “Trust”)), including the schedules of investments, as of August 31, 2024, and the related statements of operations and changes in net assets, and the financial highlights for each of the periods indicated in the table below and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds (five of the funds constituting DBX ETF Trust) at August 31, 2024, and the results of their operations, changes in net assets and financial highlights for each of the periods indicated in the table below, in conformity with U.S. generally accepted accounting principles.
| | | | | | |
| Individual fund constituting the DBX ETF Trust | | Statement of operations | | Statements of changes in net assets | | Financial highlights |
| Xtrackers S&P 500 ESG ETF | | For the year ended August 31, 2024 | | For each of the two years in the period ended August 31, 2024 | | For each of the five years in the period ended August 31, 2024 |
| Xtrackers S&P MidCap 400 ESG ETF | | For the year ended August 31, 2024 | | For each of the two years in the period ended August 31, 2024 | | For each of the three years in the period ended August 31, 2024 and the period from February 24, 2021 (commencement of operations) through August 31, 2021 |
Xtrackers S&P ESG Dividend Aristocrats ETF Xtrackers S&P 500 Growth ESG ETF Xtrackers S&P 500 Value ESG ETF | | For the year ended August 31, 2024 | | For the year ended August 31, 2024 and the period from November 9, 2022 (commencement of operations) through August 31, 2023 |
Basis for Opinion
These financial statements are the responsibility of the Trust’s management. Our responsibility is to express an opinion on each of the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Trust in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Trust is not required to have, nor were we engaged to perform, an audit of the Trust’s internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Trust’s internal control over financial reporting. Accordingly, we express no such opinion.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation
46 | DBX ETF Trust
Report of Independent Registered Public Accounting Firm (Continued)
of securities owned as of August 31, 2024, by correspondence with the custodian, brokers and others; when replies were not received from brokers and others, we performed other auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.
We have served as the auditor of one or more investment companies in the DWS family of funds since at least 1979, but we are unable to determine the specific year.
New York, New York
October 24, 2024
DBX ETF Trust | 47
Board Considerations in Approval of Investment Advisory Contracts (Unaudited)
Xtrackers S&P 500 ESG ETF, Xtrackers S&P 500 Growth ESG ETF, Xtrackers S&P 500 Value ESG ETF, Xtrackers S&P ESG Dividend Aristocrats ETF and Xtrackers S&P MidCap 400 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 14-15, 2024 (the “February 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 S&P 500 ESG ETF, Xtrackers S&P 500 Growth ESG ETF, Xtrackers S&P 500 Value ESG ETF, Xtrackers S&P ESG Dividend Aristocrats ETF and Xtrackers S&P MidCap 400 ESG ETF (each a “Fund,” and collectively, the “Funds”). In addition, after discussions at the meeting of the Board of Trustees (“Board” or “Trustees”) held on May 8, 2024 (the “May Meeting”), the Trustees unanimously approved the continuance of the Investment Advisory Agreements for each Fund for a new annual period ending on May 31, 2025. The Independent Trustees were advised throughout the review and Meetings 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 February Meeting from DBX Advisors LLC (“DBX” or the “Advisor”) for purposes of reviewing the agreement’s terms, including statistical information prepared by Broadridge Financial Solutions Inc. (“Broadridge”) regarding (a) fee and expense information for each Fund (including the fee and expense components and any amounts waived or reimbursed) as compared to a peer group of other exchange-traded funds (“ETFs”) selected pursuant to Broadridge’s proprietary methodology (each, a “Peer Group”) and (b) each Fund’s tracking error as compared to its underlying index over the previous five years (or since inception, if shorter). The Independent Trustees met with representatives of the Advisor on February 14, 2024 to review financial reports and other information provided by the Advisor and inquire further with regard to the financial information provided, and asked questions of the Advisor during this meeting. The Independent Trustees also took into consideration the discussions they had with management before and during the Meeting and among themselves during their Executive Sessions held during the February Meeting and May Meeting including confirmation at the May Meeting from the Advisor that there had been no material changes to the information presented to the Board in connection with the approval of the Investment Advisory Agreement at the February Meeting.
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
48 | DBX ETF Trust
Board Considerations in Approval of Investment Advisory Contracts (Unaudited) (Continued)
such as portfolio management compliance services and the preparation and filing of certain reports on behalf of the Trust. The Board also considered, among other things, the professional experience, qualifications and performance of the senior management and key professional personnel of the Advisor, including portfolio management.
The Board considered that the Advisor provides, at its own expense, office facilities and equipment for use by the Funds and supervisory persons responsible for supervising and monitoring the Trust’s service providers. The Board also considered that the Advisor pays or arranges for the compensation of officers of the Trust who are also officers or employees of the Advisor or one of its DWS Group affiliates, except as may otherwise be determined by the Board. In addition, the Board considered that the Advisor arranges for the provision of transfer agency, custody, fund administration and accounting, and other non-distribution services necessary for the Funds’ operations. The Board also considered that in addition to managing the Funds’ portfolios directly, the Advisor provides oversight of day-to-day operations, including monitoring tracking error, providing services in connection with the creation and redemption of creation units and assistance in meeting legal, compliance and regulatory requirements applicable to the Funds.
The Board considered the information regarding each Fund’s tracking error compared to its underlying index that had been provided by the Advisor and by Broadridge. The Board took note of the detailed information provided by the Advisor throughout the year with respect to each Fund’s tracking error and the sources thereof. The Trustees noted that tracking error for each Fund during the year was in an expected range.
Based on its review, the Board concluded that the nature, extent, and quality of services provided by the Advisor under the Investment Advisory Agreement are reasonable and appropriate in relation to the fees paid to the Advisor, taking special consideration of the fact that the advisory fee is a unitary fee and, as a result, a portion of the unitary advisory fee will be used to compensate the Funds’ service providers. The Board considered the staffing of the Advisor, including the training, qualifications and experience of investment personnel in managing the Funds. The Board also considered the expertise of the Advisor in supervising third party service providers to the Funds, such as the administrator and the custodian, noting the Advisor’s extensive work with these service providers (including onsite due diligence sessions) to conduct such supervision. The Board further considered the compliance program of the Advisor, which supports the Funds’ compliance program.
Advisor’s Financial Resources. In connection with the assessment of the ability of the Advisor to perform its duties under the Investment Advisory Agreement, the Board considered the Advisor’s financial condition and whether it has the resources necessary to carry out its functions. The Board concluded that the Advisor has the financial resources necessary to perform its obligations under the Investment Advisory Agreement.
Reasonableness of Advisory Fee. The Board compared each Fund’s advisory fee and total expenses to those of the other ETFs in its Peer Group. The Board noted that due to the special characteristics of certain Funds, there were limitations faced by Broadridge in providing comparable funds in the Peer Groups and the information in the Broadridge reports accordingly may or may not provide meaningful direct comparisons to the Funds. The Board also noted that the advisory fees and total expenses (after waivers/reimbursements) for the Funds were below or equal to the average and/or median of the ETFs in each Fund’s respective Peer Group compiled by Broadridge.
The Board accordingly noted that each Fund’s fee is competitive with the fees of applicable peer ETFs.
The Board considered that the fee for each of the Funds is a unitary fee pursuant to which the Advisor pays all of the Funds’ costs (subject to certain specified exceptions). The Board considered that each Fund’s fee had been priced to scale when it was established. The Board also considered that each Fund’s portfolio is managed on a day-to-day basis by the Advisor and that the Advisor also provides oversight of day-to-day operations, including monitoring tracking error, providing services in connection with creation and redemption units and assistance in meeting legal and regulatory requirements applicable to the Funds. Based on its review, the Board concluded that the advisory fee for each Fund is reasonable in light of the services provided.
Costs of Services and Profitability. The Board considered the expenses of the Advisor in developing and rendering services provided to the Funds and the information provided by the Advisor to the Board regarding the Funds’ profitability. The Board considered that the Advisor had provided extensive information about the Advisor’s profitability and the Advisor’s methodology in determining profitability. While the Advisor had provided information about the Advisor’s expenses relating to marketing the Funds, the Board considered the Advisor’s profitability without accounting for such expenses. The Board determined that, although only some of the Funds were profitable as of this time, the Advisor’s profitability with respect
DBX ETF Trust | 49
Board Considerations in Approval of Investment Advisory Contracts (Unaudited) (Continued)
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. The Board also acknowledged that the concept of economies of scale is a complex subject as to determining with a fair degree of certainty whether economies of scale exist, to what extent they exist, whether scale can result in additional expenses, and alternative ways advisors can share benefits of economies of scale.
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.
50 | DBX ETF Trust
Tax Information (Unaudited)
Form 1099-DIV and other year-end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisors.
Each Fund designates the following amounts or, if subsequently determined to be different, the maximum allowable for its period ended August 31, 2024.
| | | | | | | | |
| | | Qualified Dividend
Income* | | Dividends
Received
Reduction* |
Xtrackers S&P 500 ESG ETF | | | 100 | % | | | 99 | % |
Xtrackers S&P 500 Growth ESG ETF | | | 100 | % | | | 100 | % |
Xtrackers S&P 500 Value ESG ETF | | | 100 | % | | | 94 | % |
Xtrackers S&P ESG Dividend Aristocrats ETF | | | 100 | % | | | 92 | % |
Xtrackers S&P MidCap 400 ESG ETF | | | 100 | % | | | 93 | % |
| * | The above percentage is based on ordinary income dividends paid to shareholders during each Fund’s fiscal year. |
DBX ETF Trust | 51
| | (b) | The Financial Highlights are included with the Financial Statements under Item 7(a). |
Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.
Not applicable.
Item 9. Proxy Disclosures for Open-End Management Investment Companies.
Not applicable.
Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.
Not Applicable. The Independent Trustees are paid by the Advisor out of the unitary advisory fee. See Note 3 to the Financial Statements under Item 7.
Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.
Included under Item 7.
Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 13. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 15. Submission of Matters to a Vote of Security Holders.
There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant’s board of trustees.
Item 16. Controls and Procedures.
| (a) | The registrant’s principal executive officer and principal financial officer have 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 have been no changes in the registrant’s internal control over financial reporting that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant’s internal controls over financial reporting. |
Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item 18. Recovery of Erroneously Awarded Compensation.
Not Applicable.
Item 19. Exhibits.
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/ Arne Noack |
| | Arne Noack |
| | Principal Executive Officer |
|
| Date November 1, 2024 |
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/ Arne Noack |
| | Arne Noack |
| | Principal Executive Officer |
|
| Date November 1, 2024 |
| |
| By (Signature and Title) | | /s/ Diane Kenneally |
| | Diane Kenneally |
| | Principal Financial Officer |
|
| Date November 1, 2024 |
