DBX ETF Trust NPORT-P Xtrackers RREEF Global Natural Resources ETF (Nov 2024 report)

DBX

ETF

Trust

|

1

Schedule

of

Investments

Xtrackers

RREEF

Global

Natural

Resources

ETF

November

30,

2024

(Unaudited)

Number

of

Shares

Value

$

COMMON

STOCKS

—

98.3%

Brazil

—

3.4%

Suzano

SA,

ADR

20,154

208,594

Vale

SA

82,824

815,388

(Cost

$1,057,232)

1,023,982

Canada

—

19.3%

Agnico

Eagle

Mines

Ltd.

5,230

440,991

ARC

Resources

Ltd.

32,054

590,875

Barrick

Gold

Corp.

46,190

808,898

Canadian

Natural

Resources

Ltd.

16,779

569,466

Franco-Nevada

Corp.

4,105

502,633

Ivanhoe

Mines

Ltd.,

Class

A

*

48,325

650,592

Ivanhoe

Mines

Ltd.,

Class

A

*

171

2,324

Nutrien

Ltd.

24,762

1,156,615

Suncor

Energy,

Inc.

12,619

502,093

Teck

Resources

Ltd.,

Class

B

13,945

651,062

(Cost

$5,854,232)

5,875,549

Finland

—

4.1%

Stora

Enso

OYJ,

Class

R

47,865

464,702

UPM-

Kymmene

OYJ

29,656

779,935

(Cost

$1,599,101)

1,244,637

France

—

2.0%

TotalEnergies

SE

(Cost

$709,177)

10,728

622,860

India

—

1.5%

Reliance

Industries

Ltd.,

GDR,

144A

(Cost

$539,039)

7,502

452,371

Ireland

—

3.7%

Smurfit

WestRock

PLC

16,459

905,574

Smurfit

WestRock

PLC

3,883

213,411

(Cost

$937,452)

1,118,985

Luxembourg

—

2.1%

ArcelorMittal

SA

(Cost

$597,418)

25,800

649,639

Norway

—

2.3%

Norsk

Hydro

ASA

(Cost

$635,181)

114,505

707,451

Singapore

—

1.1%

Wilmar

International

Ltd.

(Cost

$350,095)

150,500

345,758

South

Africa

—

1.5%

Gold

Fields

Ltd.

(Cost

$454,984)

32,640

462,828

South

Korea

—

1.5%

POSCO

Holdings,

Inc.

(Cost

$572,456)

2,241

453,806

Number

of

Shares

Value

$

Switzerland

—

5.6%

Glencore

PLC

*

242,821

1,172,670

SIG

Group

AG

*

27,838

550,440

(Cost

$1,809,476)

1,723,110

United

Kingdom

—

14.6%

Anglo

American

PLC

19,482

624,141

DS

Smith

PLC

67,910

502,797

Mondi

PLC

34,581

523,275

Rio

Tinto

PLC

11,864

744,412

Shell

PLC,

ADR

31,801

2,058,797

(Cost

$4,418,833)

4,453,422

United

States

—

35.6%

Avery

Dennison

Corp.

1,840

378,948

Berry

Global

Group,

Inc.

3,877

280,346

Bunge

Global

SA

4,070

365,242

Chevron

Corp.

5,964

965,751

Cleveland-Cliffs,

Inc.

*

45,581

567,483

ConocoPhillips

4,784

518,299

Corteva

,

Inc.

20,859

1,298,264

Coterra

Energy,

Inc.

14,966

399,891

Darling

Ingredients,

Inc.

*

3,239

131,277

Diamondback

Energy,

Inc.

2,100

372,939

Exxon

Mobil

Corp.

19,291

2,275,566

FMC

Corp.

2,340

138,271

Freeport-McMoRan,

Inc.

20,040

885,768

Graphic

Packaging

Holding

Co.

11,970

360,177

Ingredion,

Inc.

980

144,393

Mosaic

Co.

13,823

365,757

Newmont

Corp.

5,269

220,982

Nucor

Corp.

1,092

168,921

Sealed

Air

Corp.

7,461

273,073

Valero

Energy

Corp.

1,642

228,369

Weyerhaeuser

Co.

REIT

16,559

534,193

(Cost

$10,681,215)

10,873,910

TOTAL

COMMON

STOCKS

(Cost

$30,215,891)

30,008,308

PREFERRED

STOCKS

—

0.5%

Brazil

—

0.5%

Petroleo

Brasileiro

SA

(Cost

$159,444)

25,610

166,854

CASH

EQUIVALENTS

—

0.6%

DWS

Government

Money

Market

Series

"Institutional

Shares",

4.59%

(a)

(Cost

$173,573)

173,573

173,573

2

|

DBX

ETF

Trust

Schedule

of

Investments

Xtrackers

RREEF

Global

Natural

Resources

ETF

(Continued)

November

30,

2024

(Unaudited)

For

information

on

the

Fund’s

policies

regarding

the

valuation

of

investments

and

other

significant

accounting

policies,

please

refer

to

the

Fund’s

most

recent

semi-annual

or

annual

financial

statements.

A

summary

of

the

Fund’s

transactions

with

affiliated

investments

during

the

period ended

November

30,

2024

is

as

follows:

Securities

are

listed

in

country

of domicile.

At

November

30,

2024 the

Xtrackers

RREEF

Global

Natural

Resources

ETF had

the

following

sector

diversification:

Number

of

Shares

Value

$

TOTAL

INVESTMENTS

—

99.4%

(Cost

$30,548,908)  

30,348,735

Other

assets

and

liabilities,

net

—

0.6%

179,789

NET

ASSETS

—

100.0%

30,528,524

 *

Value

($)

at

8/31/2024

Purchases

Cost

($)

Sales

Proceeds

($)

Net

Realized

Gain/(Loss)

($)

Net

Change

in

Unrealized

Appreciation

(Depreciation)

($)

Income

($)

Capital

Gain

Distributions

($)

Number

of

Shares

at

11/30/2024

Value

($)

at

11/30/2024

CASH

EQUIVALENTS

—

0.6%

DWS

Government

Money

Market

Series

"Institutional

Shares",

4.59% (a)

—

3,301,645

(3,128,072)

—

—

1,846

—

173,573

173,573

*

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

GDR:

Global

Depositary

Receipt

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.

Sector

Diversification

Market

Value

$

As

a

%

of

Total

Investments

excluding

Cash

Equivalents

Metals

&

Mining

10,529,990

34

.9

Oil,

Gas

&

Consumable

Fuels

9,724,131

32

.2

Containers

&

Packaging

3,464,766

11

.5

Chemicals

2,958,906

9

.8

Paper

&

Forest

Products

1,976,506

6

.6

Food

Products

986,670

3

.2

Specialized

REITs

534,193

1

.8

Total

30,175,162

100

.0

DBX

ETF

Trust

|

3

Schedule

of

Investments

Xtrackers

RREEF

Global

Natural

Resources

ETF

(Continued)

November

30,

2024

(Unaudited)

Fair

Value

Measurements

Various

inputs

are

used

in

determining

the

value

of

the

Fund’s

investments.

These

inputs

are

summarized

in

three

broad

levels.

Level

1

includes

quoted

prices

in

active

markets

for

identical

securities.

Level

2

includes

other

significant

observable

inputs

(including

quoted

prices

for

similar

securities,

interest

rates,

prepayment

speeds

and

credit

risk).

Level

3

includes

significant

unobservable

inputs

(including

the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments).

The

level

assigned

to

the

securities

valuations

may

not

be

an

indication

of

the

risk

or

liquidity

associated

with

investing

in

those

securities.

The

following

is

a

summary

of

the

inputs

used

as

of

November

30,

2024

in

valuing

the

Fund’s

investments.

OBTAIN

A

FUND

PROSPECTUS

To

obtain

a

summary

prospectus,

or

prospectus,

download

one

from

www.Xtrackers.com,

talk

to

your

financial

representative

or

call

(844)

851-

4255.

Investing

involves

risk,

including

the

possible

loss

of

principal.

We

advise

you

to

carefully

consider

the

product's

objectives,

risks,

charges

and

expenses

before

investing.

The

summary

prospectus

and

prospectus

contain

this

and

other

important

information

about

the

investment

product.

Please

read

the

prospectus

carefully

before

you

invest.

Xtrackers

ETFs

(“ETFs”)

are

managed

by

DBX

Advisors

LLC

(the

“Adviser”),

and

distributed

by

ALPS

Distributors,

Inc.

(“ALPS”).

The

Adviser

is

a

subsidiary

of

DWS

Group

GmbH

&

Co.

KGaA,

and

is

not

affiliated

with

ALPS.

Shares

are

not

individually

redeemable,

and

owners

of

Shares

may

acquire

those

Shares

from

the

Fund,

or

tender

such

Shares

for

redemption

to

the

Fund,

in

Creation

Units

only.

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.

NO

BANK

GUARANTEE

|

NOT

FDIC

INSURED

|

MAY

LOSE

VALUE

NRES-PH1

R-089711-2

(5/25)

DBX006037

(5/25) 

Assets

Level

1

Level

2

Level

3

Total

Common

Stocks

(a)

$

30,008,308

$

—

$

—

$

30,008,308

Preferred

Stocks

166,854

—

—

166,854

Short-Term

Investments

(a)

173,573

—

—

173,573

TOTAL

$

30,348,735

$

—

$

—

$

30,348,735

(a)

See

Schedule

of

Investments

for

additional

detailed

categorizations.