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: 811-00043
Deutsche DWS Investment Trust
(Exact Name of Registrant as Specified in Charter)
875 Third Avenue
New York, NY 10022-6225
(Address of Principal Executive Offices) (Zip Code)
Registrant’s Telephone Number, including Area Code: (212) 454-4500
Diane Kenneally
100 Summer Street
Boston, MA 02110
(Name and Address of Agent for Service)
Date of fiscal year end: | 11/30 |
Date of reporting period: | 5/31/24 |
Item 1. | Reports to Stockholders. |
(a) |
DWS ESG Core Equity Fund
Class A: DESAX
Semi-Annual Shareholder Report—May 31, 2024
This semi-annual shareholder report contains important information about DWS ESG Core Equity Fund ("the Fund") for the period December 1, 2023 to May 31, 2024. You can find additional information about the Fund on the Fund's website at www.dws.com/mutualreports. You can also request this information by contacting us at (800) 728-3337.
What were the Fund costs for the last six months?
(Based on a hypothetical $10,000 investment)
Cost of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | |
---|---|---|
Class A | $44 | 0.80% |
Gross expense ratio as of the latest prospectus: 0.97%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
Key Fund Statistics
Net Assets ($) | 230,399,050 |
Number of Portfolio Holdings | 91 |
Portfolio Turnover Rate (%) | 3 |
Total Net Advisory Fees Paid ($) | 469,994 |
What did the Fund invest in?
Holdings-based data is subject to change.
Asset Allocation
Asset Type | % of Net Assets |
Common Stocks | 98% |
Cash Equivalents | 2% |
Other Assets and Liabilities, Net | 0% |
Total | 100% |
Sector Allocation
Sector | % of Net Assets |
Information Technology | 30% |
Financials | 14% |
Health Care | 12% |
Industrials | 9% |
Communication Services | 9% |
Consumer Discretionary | 9% |
Consumer Staples | 4% |
Energy | 3% |
Materials | 3% |
Real Estate | 3% |
Utilities | 2% |
Total | 98% |
Top Ten Holdings
Holdings | 42.6% of Net Assets |
Microsoft Corp. | 9.7% |
Apple, Inc. | 8.2% |
Alphabet, Inc., Class A | 7.3% |
NVIDIA Corp. | 4.9% |
Cigna Group | 2.5% |
General Electric Co. | 2.4% |
Bank of America Corp. | 2.1% |
Amgen, Inc. | 2.0% |
American Express Co. | 1.8% |
PepsiCo, Inc. | 1.7% |
Additional Information
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, Board fee evaluation reports, and financial statements and other information, please visit www.dws.com/mutualreports. 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 (800) 728-3337.
Householding
In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report and prospectus to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact your financial representative or call DWS toll free at (800) 728-3337.
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. Investing in derivatives entails special risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility. The impact of the use of quantitative models and the analysis of specific metrics on a stock’s performance can be difficult to predict, and stocks that previously possessed certain desirable quantitative characteristics may not continue to demonstrate those same characteristics in the future. Quantitative models also entail the risk that the models themselves may be limited or incorrect. The Fund may lend securities to approved institutions. Please read prospectus for details.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's objectives, risks, charges, and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (800) 728-3337, contacting your financial representative, or visit www.dws.com/mutualreports to view or download a prospectus. Please read the prospectus carefully before you invest.
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 GmbH&Co. KGaA. All rights reserved
DECEF-TSRS-A
R-101123-1 (7/24)
DWS ESG Core Equity Fund
Class C: DESCX
Semi-Annual Shareholder Report—May 31, 2024
This semi-annual shareholder report contains important information about DWS ESG Core Equity Fund ("the Fund") for the period December 1, 2023 to May 31, 2024. You can find additional information about the Fund on the Fund's website at www.dws.com/mutualreports. You can also request this information by contacting us at (800) 728-3337.
What were the Fund costs for the last six months?
(Based on a hypothetical $10,000 investment)
Cost of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | |
---|---|---|
Class C | $84 | 1.55% |
Gross expense ratio as of the latest prospectus: 1.78%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
Key Fund Statistics
Net Assets ($) | 230,399,050 |
Number of Portfolio Holdings | 91 |
Portfolio Turnover Rate (%) | 3 |
Total Net Advisory Fees Paid ($) | 469,994 |
What did the Fund invest in?
Holdings-based data is subject to change.
Asset Allocation
Asset Type | % of Net Assets |
Common Stocks | 98% |
Cash Equivalents | 2% |
Other Assets and Liabilities, Net | 0% |
Total | 100% |
Sector Allocation
Sector | % of Net Assets |
Information Technology | 30% |
Financials | 14% |
Health Care | 12% |
Industrials | 9% |
Communication Services | 9% |
Consumer Discretionary | 9% |
Consumer Staples | 4% |
Energy | 3% |
Materials | 3% |
Real Estate | 3% |
Utilities | 2% |
Total | 98% |
Top Ten Holdings
Holdings | 42.6% of Net Assets |
Microsoft Corp. | 9.7% |
Apple, Inc. | 8.2% |
Alphabet, Inc., Class A | 7.3% |
NVIDIA Corp. | 4.9% |
Cigna Group | 2.5% |
General Electric Co. | 2.4% |
Bank of America Corp. | 2.1% |
Amgen, Inc. | 2.0% |
American Express Co. | 1.8% |
PepsiCo, Inc. | 1.7% |
Additional Information
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, Board fee evaluation reports, and financial statements and other information, please visit www.dws.com/mutualreports. 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 (800) 728-3337.
Householding
In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report and prospectus to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact your financial representative or call DWS toll free at (800) 728-3337.
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. Investing in derivatives entails special risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility. The impact of the use of quantitative models and the analysis of specific metrics on a stock’s performance can be difficult to predict, and stocks that previously possessed certain desirable quantitative characteristics may not continue to demonstrate those same characteristics in the future. Quantitative models also entail the risk that the models themselves may be limited or incorrect. The Fund may lend securities to approved institutions. Please read prospectus for details.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's objectives, risks, charges, and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (800) 728-3337, contacting your financial representative, or visit www.dws.com/mutualreports to view or download a prospectus. Please read the prospectus carefully before you invest.
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 GmbH&Co. KGaA. All rights reserved
DECEF-TSRS-C
R-101123-1 (7/24)
DWS ESG Core Equity Fund
Class S: DESSX
Semi-Annual Shareholder Report—May 31, 2024
This semi-annual shareholder report contains important information about DWS ESG Core Equity Fund ("the Fund") for the period December 1, 2023 to May 31, 2024. You can find additional information about the Fund on the Fund's website at www.dws.com/mutualreports. You can also request this information by contacting us at (800) 728-3337.
What were the Fund costs for the last six months?
(Based on a hypothetical $10,000 investment)
Cost of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | |
---|---|---|
Class S | $30 | 0.55% |
Gross expense ratio as of the latest prospectus: 0.72%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
Key Fund Statistics
Net Assets ($) | 230,399,050 |
Number of Portfolio Holdings | 91 |
Portfolio Turnover Rate (%) | 3 |
Total Net Advisory Fees Paid ($) | 469,994 |
What did the Fund invest in?
Holdings-based data is subject to change.
Asset Allocation
Asset Type | % of Net Assets |
Common Stocks | 98% |
Cash Equivalents | 2% |
Other Assets and Liabilities, Net | 0% |
Total | 100% |
Sector Allocation
Sector | % of Net Assets |
Information Technology | 30% |
Financials | 14% |
Health Care | 12% |
Industrials | 9% |
Communication Services | 9% |
Consumer Discretionary | 9% |
Consumer Staples | 4% |
Energy | 3% |
Materials | 3% |
Real Estate | 3% |
Utilities | 2% |
Total | 98% |
Top Ten Holdings
Holdings | 42.6% of Net Assets |
Microsoft Corp. | 9.7% |
Apple, Inc. | 8.2% |
Alphabet, Inc., Class A | 7.3% |
NVIDIA Corp. | 4.9% |
Cigna Group | 2.5% |
General Electric Co. | 2.4% |
Bank of America Corp. | 2.1% |
Amgen, Inc. | 2.0% |
American Express Co. | 1.8% |
PepsiCo, Inc. | 1.7% |
Additional Information
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, Board fee evaluation reports, and financial statements and other information, please visit www.dws.com/mutualreports. 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 (800) 728-3337.
Householding
In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report and prospectus to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact your financial representative or call DWS toll free at (800) 728-3337.
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. Investing in derivatives entails special risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility. The impact of the use of quantitative models and the analysis of specific metrics on a stock’s performance can be difficult to predict, and stocks that previously possessed certain desirable quantitative characteristics may not continue to demonstrate those same characteristics in the future. Quantitative models also entail the risk that the models themselves may be limited or incorrect. The Fund may lend securities to approved institutions. Please read prospectus for details.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's objectives, risks, charges, and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (800) 728-3337, contacting your financial representative, or visit www.dws.com/mutualreports to view or download a prospectus. Please read the prospectus carefully before you invest.
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 GmbH&Co. KGaA. All rights reserved
DECEF-TSRS-S
R-101123-1 (7/24)
DWS ESG Core Equity Fund
Class R: DESRX
Semi-Annual Shareholder Report—May 31, 2024
This semi-annual shareholder report contains important information about DWS ESG Core Equity Fund ("the Fund") for the period December 1, 2023 to May 31, 2024. You can find additional information about the Fund on the Fund's website at www.dws.com/mutualreports. You can also request this information by contacting us at (800) 728-3337.
What were the Fund costs for the last six months?
(Based on a hypothetical $10,000 investment)
Cost of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | |
---|---|---|
Class R | $57 | 1.05% |
Gross expense ratio as of the latest prospectus: 1.35%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
Key Fund Statistics
Net Assets ($) | 230,399,050 |
Number of Portfolio Holdings | 91 |
Portfolio Turnover Rate (%) | 3 |
Total Net Advisory Fees Paid ($) | 469,994 |
What did the Fund invest in?
Holdings-based data is subject to change.
Asset Allocation
Asset Type | % of Net Assets |
Common Stocks | 98% |
Cash Equivalents | 2% |
Other Assets and Liabilities, Net | 0% |
Total | 100% |
Sector Allocation
Sector | % of Net Assets |
Information Technology | 30% |
Financials | 14% |
Health Care | 12% |
Industrials | 9% |
Communication Services | 9% |
Consumer Discretionary | 9% |
Consumer Staples | 4% |
Energy | 3% |
Materials | 3% |
Real Estate | 3% |
Utilities | 2% |
Total | 98% |
Top Ten Holdings
Holdings | 42.6% of Net Assets |
Microsoft Corp. | 9.7% |
Apple, Inc. | 8.2% |
Alphabet, Inc., Class A | 7.3% |
NVIDIA Corp. | 4.9% |
Cigna Group | 2.5% |
General Electric Co. | 2.4% |
Bank of America Corp. | 2.1% |
Amgen, Inc. | 2.0% |
American Express Co. | 1.8% |
PepsiCo, Inc. | 1.7% |
Additional Information
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, Board fee evaluation reports, and financial statements and other information, please visit www.dws.com/mutualreports. 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 (800) 728-3337.
Householding
In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report and prospectus to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact your financial representative or call DWS toll free at (800) 728-3337.
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. Investing in derivatives entails special risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility. The impact of the use of quantitative models and the analysis of specific metrics on a stock’s performance can be difficult to predict, and stocks that previously possessed certain desirable quantitative characteristics may not continue to demonstrate those same characteristics in the future. Quantitative models also entail the risk that the models themselves may be limited or incorrect. The Fund may lend securities to approved institutions. Please read prospectus for details.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's objectives, risks, charges, and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (800) 728-3337, contacting your financial representative, or visit www.dws.com/mutualreports to view or download a prospectus. Please read the prospectus carefully before you invest.
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 GmbH&Co. KGaA. All rights reserved
DECEF-TSRS-R
R-101123-1 (7/24)
DWS ESG Core Equity Fund
Institutional Class: DESGX
Semi-Annual Shareholder Report—May 31, 2024
This semi-annual shareholder report contains important information about DWS ESG Core Equity Fund ("the Fund") for the period December 1, 2023 to May 31, 2024. You can find additional information about the Fund on the Fund's website at www.dws.com/mutualreports. You can also request this information by contacting us at (800) 728-3337.
What were the Fund costs for the last six months?
(Based on a hypothetical $10,000 investment)
Cost of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | |
---|---|---|
Institutional Class | $30 | 0.55% |
Gross expense ratio as of the latest prospectus: 0.68%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
Key Fund Statistics
Net Assets ($) | 230,399,050 |
Number of Portfolio Holdings | 91 |
Portfolio Turnover Rate (%) | 3 |
Total Net Advisory Fees Paid ($) | 469,994 |
What did the Fund invest in?
Holdings-based data is subject to change.
Asset Allocation
Asset Type | % of Net Assets |
Common Stocks | 98% |
Cash Equivalents | 2% |
Other Assets and Liabilities, Net | 0% |
Total | 100% |
Sector Allocation
Sector | % of Net Assets |
Information Technology | 30% |
Financials | 14% |
Health Care | 12% |
Industrials | 9% |
Communication Services | 9% |
Consumer Discretionary | 9% |
Consumer Staples | 4% |
Energy | 3% |
Materials | 3% |
Real Estate | 3% |
Utilities | 2% |
Total | 98% |
Top Ten Holdings
Holdings | 42.6% of Net Assets |
Microsoft Corp. | 9.7% |
Apple, Inc. | 8.2% |
Alphabet, Inc., Class A | 7.3% |
NVIDIA Corp. | 4.9% |
Cigna Group | 2.5% |
General Electric Co. | 2.4% |
Bank of America Corp. | 2.1% |
Amgen, Inc. | 2.0% |
American Express Co. | 1.8% |
PepsiCo, Inc. | 1.7% |
Additional Information
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, Board fee evaluation reports, and financial statements and other information, please visit www.dws.com/mutualreports. 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 (800) 728-3337.
Householding
In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report and prospectus to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact your financial representative or call DWS toll free at (800) 728-3337.
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. Investing in derivatives entails special risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility. The impact of the use of quantitative models and the analysis of specific metrics on a stock’s performance can be difficult to predict, and stocks that previously possessed certain desirable quantitative characteristics may not continue to demonstrate those same characteristics in the future. Quantitative models also entail the risk that the models themselves may be limited or incorrect. The Fund may lend securities to approved institutions. Please read prospectus for details.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's objectives, risks, charges, and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (800) 728-3337, contacting your financial representative, or visit www.dws.com/mutualreports to view or download a prospectus. Please read the prospectus carefully before you invest.
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 GmbH&Co. KGaA. All rights reserved
DECEF-TSRS-I
R-101123-1 (7/24)
DWS ESG Core Equity Fund
Class R6: DESUX
Semi-Annual Shareholder Report—May 31, 2024
This semi-annual shareholder report contains important information about DWS ESG Core Equity Fund ("the Fund") for the period December 1, 2023 to May 31, 2024. You can find additional information about the Fund on the Fund's website at www.dws.com/mutualreports. You can also request this information by contacting us at (800) 728-3337.
What were the Fund costs for the last six months?
(Based on a hypothetical $10,000 investment)
Cost of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | |
---|---|---|
Class R6 | $30 | 0.55% |
Gross expense ratio as of the latest prospectus: 0.62%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
Key Fund Statistics
Net Assets ($) | 230,399,050 |
Number of Portfolio Holdings | 91 |
Portfolio Turnover Rate (%) | 3 |
Total Net Advisory Fees Paid ($) | 469,994 |
What did the Fund invest in?
Holdings-based data is subject to change.
Asset Allocation
Asset Type | % of Net Assets |
Common Stocks | 98% |
Cash Equivalents | 2% |
Other Assets and Liabilities, Net | 0% |
Total | 100% |
Sector Allocation
Sector | % of Net Assets |
Information Technology | 30% |
Financials | 14% |
Health Care | 12% |
Industrials | 9% |
Communication Services | 9% |
Consumer Discretionary | 9% |
Consumer Staples | 4% |
Energy | 3% |
Materials | 3% |
Real Estate | 3% |
Utilities | 2% |
Total | 98% |
Top Ten Holdings
Holdings | 42.6% of Net Assets |
Microsoft Corp. | 9.7% |
Apple, Inc. | 8.2% |
Alphabet, Inc., Class A | 7.3% |
NVIDIA Corp. | 4.9% |
Cigna Group | 2.5% |
General Electric Co. | 2.4% |
Bank of America Corp. | 2.1% |
Amgen, Inc. | 2.0% |
American Express Co. | 1.8% |
PepsiCo, Inc. | 1.7% |
Additional Information
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, Board fee evaluation reports, and financial statements and other information, please visit www.dws.com/mutualreports. 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 (800) 728-3337.
Householding
In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report and prospectus to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact your financial representative or call DWS toll free at (800) 728-3337.
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. Investing in derivatives entails special risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility. The impact of the use of quantitative models and the analysis of specific metrics on a stock’s performance can be difficult to predict, and stocks that previously possessed certain desirable quantitative characteristics may not continue to demonstrate those same characteristics in the future. Quantitative models also entail the risk that the models themselves may be limited or incorrect. The Fund may lend securities to approved institutions. Please read prospectus for details.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's objectives, risks, charges, and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (800) 728-3337, contacting your financial representative, or visit www.dws.com/mutualreports to view or download a prospectus. Please read the prospectus carefully before you invest.
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 GmbH&Co. KGaA. All rights reserved
DECEF-TSRS-R6
R-101123-1 (7/24)
(b) Not applicable | |
Item 2. | Code of Ethics. |
Not applicable | |
Item 3. | Audit Committee Financial Expert. |
Not applicable | |
Item 4. | Principal Accountant Fees and Services. |
Not applicable | |
Item 5. | Audit Committee of Listed Registrants. |
Not applicable | |
Item 6. | Investments. |
Not applicable | |
Item 7. | Financial Statements and Financial Highlights for Open-End Management Investment Companies. |
2 | | | DWS ESG Core Equity Fund |
Shares | Value ($) | ||
Common Stocks 98.0% | |||
Communication Services 9.1% | |||
Diversified Telecommunication Services 0.2% | |||
AT&T, Inc. | 24,666 | 449,415 | |
Entertainment 1.6% | |||
Take-Two Interactive Software, Inc.* | 6,321 | 1,013,636 | |
Walt Disney Co. | 25,905 | 2,691,788 | |
Warner Bros Discovery, Inc.* | 5,967 | 49,168 | |
3,754,592 | |||
Interactive Media & Services 7.3% | |||
Alphabet, Inc. “A” * | 96,731 | 16,686,097 | |
Consumer Discretionary 8.4% | |||
Automobile Components 0.6% | |||
Lear Corp. | 11,160 | 1,398,906 | |
Automobiles 1.0% | |||
Tesla, Inc.* | 12,861 | 2,290,287 | |
Hotels, Restaurants & Leisure 2.1% | |||
Hilton Worldwide Holdings, Inc. | 17,162 | 3,442,697 | |
Hyatt Hotels Corp. “A” | 9,308 | 1,372,651 | |
4,815,348 | |||
Household Durables 0.7% | |||
PulteGroup, Inc. | 13,802 | 1,619,250 | |
Leisure Products 0.4% | |||
Brunswick Corp. | 12,134 | 1,001,419 | |
Specialty Retail 2.7% | |||
Best Buy Co., Inc. | 20,972 | 1,778,845 | |
Five Below, Inc.* | 5,427 | 749,632 | |
Lowe’s Companies, Inc. | 9,219 | 2,040,072 | |
TJX Companies, Inc. | 15,590 | 1,607,329 | |
6,175,878 | |||
Textiles, Apparel & Luxury Goods 0.9% | |||
PVH Corp. | 8,301 | 996,203 | |
Tapestry, Inc. | 26,949 | 1,172,012 | |
2,168,215 |
DWS ESG Core Equity Fund | | | 3 |
Shares | Value ($) | ||
Consumer Staples 3.9% | |||
Beverages 2.5% | |||
Keurig Dr Pepper, Inc. | 28,268 | 968,179 | |
Molson Coors Beverage Co. “B” | 17,317 | 949,145 | |
PepsiCo, Inc. | 22,565 | 3,901,488 | |
5,818,812 | |||
Consumer Staples Distribution & Retail 0.5% | |||
Performance Food Group Co.* | 15,401 | 1,071,910 | |
Food Products 0.3% | |||
Kellanova | 13,322 | 803,849 | |
Personal Care Products 0.6% | |||
Coty, Inc. “A” * | 122,406 | 1,268,126 | |
Energy 3.3% | |||
Energy Equipment & Services 0.9% | |||
Schlumberger NV | 16,231 | 744,840 | |
TechnipFMC PLC | 53,957 | 1,413,134 | |
2,157,974 | |||
Oil, Gas & Consumable Fuels 2.4% | |||
Cheniere Energy, Inc. | 5,972 | 942,322 | |
Chevron Corp. | 8,621 | 1,399,188 | |
Exxon Mobil Corp. | 20,985 | 2,460,701 | |
Valero Energy Corp. | 4,433 | 696,602 | |
5,498,813 | |||
Financials 14.2% | |||
Banks 4.3% | |||
Bank of America Corp. | 119,245 | 4,768,607 | |
Citigroup, Inc. | 46,099 | 2,872,429 | |
JPMorgan Chase & Co. | 11,536 | 2,337,540 | |
9,978,576 | |||
Capital Markets 5.0% | |||
Ameriprise Financial, Inc. | 3,634 | 1,586,641 | |
KKR & Co., Inc. | 32,257 | 3,317,310 | |
MSCI, Inc. | 2,171 | 1,075,036 | |
The Goldman Sachs Group, Inc. | 8,012 | 3,657,638 | |
Tradeweb Markets, Inc. “A” | 16,064 | 1,751,136 | |
11,387,761 | |||
Consumer Finance 1.8% | |||
American Express Co. | 16,937 | 4,064,880 |
4 | | | DWS ESG Core Equity Fund |
Shares | Value ($) | ||
Financial Services 1.3% | |||
Fidelity National Information Services, Inc. | 11,026 | 836,653 | |
Mastercard, Inc. “A” | 2,114 | 945,106 | |
PayPal Holdings, Inc.* | 20,752 | 1,307,169 | |
3,088,928 | |||
Insurance 1.8% | |||
Cincinnati Financial Corp. | 8,922 | 1,049,049 | |
Hartford Financial Services Group, Inc. | 29,374 | 3,038,740 | |
4,087,789 | |||
Health Care 11.9% | |||
Biotechnology 4.6% | |||
Amgen, Inc. | 14,979 | 4,581,327 | |
Biogen, Inc.* | 5,875 | 1,321,522 | |
Regeneron Pharmaceuticals, Inc.* | 1,941 | 1,902,491 | |
Vertex Pharmaceuticals, Inc.* | 6,191 | 2,819,010 | |
10,624,350 | |||
Health Care Equipment & Supplies 0.8% | |||
Align Technology, Inc.* | 3,137 | 806,868 | |
Hologic, Inc.* | 13,808 | 1,018,754 | |
1,825,622 | |||
Health Care Providers & Services 5.2% | |||
Centene Corp.* | 34,864 | 2,495,914 | |
Cigna Group | 16,674 | 5,746,194 | |
CVS Health Corp. | 9,392 | 559,763 | |
HCA Healthcare, Inc. | 9,285 | 3,154,579 | |
11,956,450 | |||
Pharmaceuticals 1.3% | |||
Bristol-Myers Squibb Co. | 21,660 | 890,009 | |
Merck & Co., Inc. | 16,112 | 2,022,701 | |
2,912,710 | |||
Industrials 9.4% | |||
Aerospace & Defense 3.2% | |||
General Electric Co. | 33,684 | 5,562,576 | |
Howmet Aerospace, Inc. | 21,633 | 1,831,233 | |
7,393,809 | |||
Air Freight & Logistics 0.7% | |||
United Parcel Service, Inc. “B” | 11,703 | 1,625,898 |
DWS ESG Core Equity Fund | | | 5 |
Shares | Value ($) | ||
Building Products 0.9% | |||
Owens Corning | 11,590 | 2,098,601 | |
Commercial Services & Supplies 1.4% | |||
Republic Services, Inc. | 17,833 | 3,302,493 | |
Electrical Equipment 1.0% | |||
ChargePoint Holdings, Inc.* | 53,189 | 89,357 | |
Ge Vernova, Inc.* | 7,093 | 1,247,659 | |
Sunrun, Inc.* | 21,032 | 304,123 | |
Vertiv Holdings Co. | 5,974 | 585,870 | |
2,227,009 | |||
Machinery 0.4% | |||
Deere & Co. | 2,119 | 794,117 | |
Professional Services 1.0% | |||
Verisk Analytics, Inc. | 8,942 | 2,260,359 | |
Trading Companies & Distributors 0.8% | |||
WESCO International, Inc. | 10,555 | 1,894,517 | |
Information Technology 30.4% | |||
Communications Equipment 0.9% | |||
Cisco Systems, Inc. | 44,304 | 2,060,136 | |
Semiconductors & Semiconductor Equipment 8.0% | |||
Advanced Micro Devices, Inc.* | 14,738 | 2,459,772 | |
Lam Research Corp. | 2,177 | 2,029,922 | |
Micron Technology, Inc. | 14,828 | 1,853,500 | |
NVIDIA Corp. | 10,228 | 11,213,263 | |
Skyworks Solutions, Inc. | 10,503 | 973,208 | |
18,529,665 | |||
Software 13.2% | |||
Adobe, Inc.* | 2,932 | 1,304,036 | |
Microsoft Corp. | 53,614 | 22,256,781 | |
Oracle Corp. | 19,596 | 2,296,455 | |
RingCentral, Inc. “A” * | 20,650 | 706,230 | |
Salesforce, Inc. | 13,345 | 3,128,602 | |
Zoom Video Communications, Inc. “A” * | 12,752 | 782,208 | |
30,474,312 | |||
Technology Hardware, Storage & Peripherals 8.3% | |||
Apple, Inc. | 98,866 | 19,006,989 |
6 | | | DWS ESG Core Equity Fund |
Shares | Value ($) | ||
Materials 3.3% | |||
Chemicals 1.8% | |||
DuPont de Nemours, Inc. | 29,339 | 2,410,492 | |
International Flavors & Fragrances, Inc. | 17,145 | 1,649,006 | |
4,059,498 | |||
Containers & Packaging 0.9% | |||
Ball Corp. | 30,419 | 2,111,991 | |
Metals & Mining 0.6% | |||
Newmont Corp. | 17,014 | 713,567 | |
Nucor Corp. | 4,031 | 680,635 | |
1,394,202 | |||
Real Estate 2.4% | |||
Health Care REITs 0.1% | |||
Medical Properties Trust, Inc. (a) | 66,982 | 359,024 | |
Specialized REITs 2.3% | |||
Digital Realty Trust, Inc. | 9,411 | 1,367,795 | |
Iron Mountain, Inc. | 48,166 | 3,886,514 | |
5,254,309 | |||
Utilities 1.7% | |||
Multi-Utilities 0.4% | |||
WEC Energy Group, Inc. | 11,220 | 909,156 | |
Water Utilities 1.3% | |||
American Water Works Co., Inc. | 22,862 | 2,989,664 | |
Total Common Stocks (Cost $134,798,943) | 225,651,706 | ||
Securities Lending Collateral 0.1% | |||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares” , 5.24% (b) (c) (Cost $316,050) | 316,050 | 316,050 | |
Cash Equivalents 2.0% | |||
DWS Central Cash Management Government Fund, 5.35% (b) (Cost $4,662,787) | 4,662,787 | 4,662,787 |
DWS ESG Core Equity Fund | | | 7 |
% of Net Assets | Value ($) | ||
Total Investment Portfolio (Cost $139,777,780) | 100.1 | 230,630,543 | |
Other Assets and Liabilities, Net | (0.1 ) | (231,493 ) | |
Net Assets | 100.0 | 230,399,050 |
Value ($) at 11/30/2023 | Pur- chases Cost ($) | Sales Proceeds ($) | Net Real- ized Gain/ (Loss) ($) | Net Change in Unreal- ized Appreci- ation (Depreci- ation) ($) | Income ($) | Capital Gain Distri- butions ($) | Number of Shares at 5/31/2024 | Value ($) at 5/31/2024 |
Securities Lending Collateral 0.1% | ||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares” , 5.24% (b) (c) | ||||||||
106,376 | 209,674 (d) | — | — | — | 5,260 | — | 316,050 | 316,050 |
Cash Equivalents 2.0% | ||||||||
DWS Central Cash Management Government Fund, 5.35% (b) | ||||||||
2,711,010 | 14,493,295 | 12,541,518 | — | — | 52,998 | — | 4,662,787 | 4,662,787 |
2,817,386 | 14,702,969 | 12,541,518 | — | — | 58,258 | — | 4,978,837 | 4,978,837 |
* | 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 May 31, 2024 amounted to $322,672, which is 0.1% of net assets. |
(b) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
(c) | Represents 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 May 31, 2024. |
REIT: Real Estate Investment Trust |
8 | | | DWS ESG Core Equity Fund |
Assets | Level 1 | Level 2 | Level 3 | Total |
Common Stocks (a) | $225,651,706 | $— | $— | $225,651,706 |
Short-Term Investments (a) | 4,978,837 | — | — | 4,978,837 |
Total | $230,630,543 | $— | $— | $230,630,543 |
(a) | See Investment Portfolio for additional detailed categorizations. |
DWS ESG Core Equity Fund | | | 9 |
Assets | |
Investments in non-affiliated securities, at value (cost $134,798,943) — including $322,672 of securities loaned | $225,651,706 |
Investment in DWS Government & Agency Securities Portfolio (cost $316,050)* | 316,050 |
Investment in DWS Central Cash Management Government Fund (cost $4,662,787) | 4,662,787 |
Receivable for Fund shares sold | 61,438 |
Dividends receivable | 197,437 |
Affiliated securities lending income receivable | 1,054 |
Other assets | 67,176 |
Total assets | 230,957,648 |
Liabilities | |
Payable upon return of securities loaned | 316,050 |
Payable for Fund shares redeemed | 49,969 |
Accrued management fee | 59,398 |
Accrued Trustees' fees | 2,784 |
Other accrued expenses and payables | 130,397 |
Total liabilities | 558,598 |
Net assets, at value | $230,399,050 |
Net Assets Consist of | |
Distributable earnings (loss) | 94,647,935 |
Paid-in capital | 135,751,115 |
Net assets, at value | $230,399,050 |
10 | | | DWS ESG Core Equity Fund |
Net Asset Value | |
Class A | |
Net Asset Value and redemption price per share ($39,766,584 ÷ 1,764,719 outstanding shares of beneficial interest, $.01 par value, unlimited number of shares authorized) | $22.53 |
Maximum offering price per share (100 ÷ 94.25 of $22.53) | $23.90 |
Class C | |
Net Asset Value, offering and redemption price (subject to contingent deferred sales charge) per share ($903,990 ÷ 41,964 outstanding shares of beneficial interest, $.01 par value, unlimited number of shares authorized) | $21.54 |
Class R | |
Net Asset Value, offering and redemption price per share ($35,050,951 ÷ 1,557,423 outstanding shares of beneficial interest, $.01 par value, unlimited number of shares authorized) | $22.51 |
Class R6 | |
Net Asset Value, offering and redemption price per share ($2,086,558 ÷ 93,000 outstanding shares of beneficial interest, $.01 par value, unlimited number of shares authorized) | $22.44 |
Class S | |
Net Asset Value, offering and redemption price per share ($127,201,034 ÷ 5,658,188 outstanding shares of beneficial interest, $.01 par value, unlimited number of shares authorized) | $22.48 |
Institutional Class | |
Net Asset Value, offering and redemption price per share ($25,389,933 ÷ 1,128,435 outstanding shares of beneficial interest, $.01 par value, unlimited number of shares authorized) | $22.50 |
DWS ESG Core Equity Fund | | | 11 |
Investment Income | |
Income: | |
Dividends | $1,292,907 |
Income distributions — DWS Central Cash Management Government Fund | 52,998 |
Affiliated securities lending income | 5,260 |
Total income | 1,351,165 |
Expenses: | |
Management fee | 503,734 |
Services to shareholders | 148,711 |
Distribution and service fees | 132,912 |
Custodian and accounting fees | 16,615 |
Professional fees | 35,807 |
Reports to shareholders | 10,126 |
Registration fees | 33,758 |
Trustees' fees and expenses | 5,917 |
Other | 10,962 |
Total expenses before expense reductions | 898,542 |
Expense reductions | (167,547 ) |
Total expenses after expense reductions | 730,995 |
Net investment income | 620,170 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) from investments | 3,432,947 |
Change in net unrealized appreciation (depreciation) on investments | 32,600,388 |
Net gain (loss) | 36,033,335 |
Net increase (decrease) in net assets resulting from operations | $36,653,505 |
12 | | | DWS ESG Core Equity Fund |
Six Months Ended May 31, 2024 | Year Ended November 30, | |
Increase (Decrease) in Net Assets | (Unaudited) | 2023 |
Operations: | ||
Net investment income | $620,170 | $1,730,355 |
Net realized gain (loss) | 3,432,947 | 3,815,693 |
Change in net unrealized appreciation (depreciation) | 32,600,388 | 17,020,222 |
Net increase (decrease) in net assets resulting from operations | 36,653,505 | 22,566,270 |
Distributions to shareholders: | ||
Class A | (893,350 ) | (1,126,644 ) |
Class C | (22,324 ) | (58,400 ) |
Class R | (726,513 ) | (1,035,033 ) |
Class R6 | (55,433 ) | (42,231 ) |
Class S | (3,182,015 ) | (3,898,831 ) |
Institutional Class | (583,944 ) | (683,361 ) |
Total distributions | (5,463,579 ) | (6,844,500 ) |
Fund share transactions: | ||
Proceeds from shares sold | 9,478,645 | 13,743,396 |
Reinvestment of distributions | 5,274,889 | 6,642,320 |
Payments for shares redeemed | (16,153,617 ) | (26,089,301 ) |
Net increase (decrease) in net assets from Fund share transactions | (1,400,083 ) | (5,703,585 ) |
Increase (decrease) in net assets | 29,789,843 | 10,018,185 |
Net assets at beginning of period | 200,609,207 | 190,591,022 |
Net assets at end of period | $230,399,050 | $200,609,207 |
DWS ESG Core Equity Fund | | | 13 |
DWS ESG Core Equity Fund — Class A | ||||||
Six Months Ended 5/31/24 | Years Ended November 30, | |||||
(Unaudited) | 2023 | 2022 | 2021 | 2020 | 2019 | |
Selected Per Share Data | ||||||
Net asset value, beginning of period | $19.50 | $18.03 | $21.62 | $17.23 | $15.97 | $17.54 |
Income (loss) from investment operations: | ||||||
Net investment incomea | .05 | .14 | .13 | .10 | .13 | .15 |
Net realized and unrealized gain (loss) | 3.49 | 1.96 | (1.23 ) | 4.95 | 2.26 | .95 |
Total from investment operations | 3.54 | 2.10 | (1.10 ) | 5.05 | 2.39 | 1.10 |
Less distributions from: | ||||||
Net investment income | (.14 ) | (.15 ) | (.11 ) | (.14 ) | (.11 ) | (.16 ) |
Net realized gains | (.37 ) | (.48 ) | (2.38 ) | (.52 ) | (1.02 ) | (2.51 ) |
Total distributions | (.51 ) | (.63 ) | (2.49 ) | (.66 ) | (1.13 ) | (2.67 ) |
Net asset value, end of period | $22.53 | $19.50 | $18.03 | $21.62 | $17.23 | $15.97 |
Total Return (%)b | 18.48 c* | 12.38 c | (5.93 )c | 30.24 | 15.90 | 9.70 c |
Ratios to Average Net Assets and Supplemental Data | ||||||
Net assets, end of period ($ millions) | 40 | 34 | 32 | 38 | 31 | 40 |
Ratio of expenses before expense reductions (%) | .93 ** | .97 | .97 | .95 | .99 | 1.25 |
Ratio of expenses after expense reductions (%) | .80 ** | .80 | .91 | .95 | .99 | 1.17 |
Ratio of net investment income (%) | .45 ** | .79 | .75 | .53 | .86 | 1.01 |
Portfolio turnover rate (%) | 3 * | 11 | 17 | 27 | 17 | 121 |
a | Based on average shares outstanding during the period. |
b | Total return does not reflect the effect of any sales charges. |
c | Total return would have been lower had certain expenses not been reduced. |
* | Not annualized |
** | Annualized |
14 | | | DWS ESG Core Equity Fund |
DWS ESG Core Equity Fund — Class C | ||||||
Six Months Ended 5/31/24 | Years Ended November 30, | |||||
(Unaudited) | 2023 | 2022 | 2021 | 2020 | 2019 | |
Selected Per Share Data | ||||||
Net asset value, beginning of period | $18.60 | $17.21 | $20.78 | $16.58 | $15.42 | $17.00 |
Income (loss) from investment operations: | ||||||
Net investment income (loss)a | (.03 ) | .01 | (.01 ) | (.05 ) | .01 | .04 |
Net realized and unrealized gain (loss) | 3.34 | 1.87 | (1.18 ) | 4.77 | 2.17 | .93 |
Total from investment operations | 3.31 | 1.88 | (1.19 ) | 4.72 | 2.18 | .97 |
Less distributions from: | ||||||
Net investment income | — | (.01 ) | — | (.00 )* | — | (.04 ) |
Net realized gains | (.37 ) | (.48 ) | (2.38 ) | (.52 ) | (1.02 ) | (2.51 ) |
Total distributions | (.37 ) | (.49 ) | (2.38 ) | (.52 ) | (1.02 ) | (2.55 ) |
Net asset value, end of period | $21.54 | $18.60 | $17.21 | $20.78 | $16.58 | $15.42 |
Total Return (%)b | 18.04 c** | 11.53 c | (6.64 )c | 29.23 | 14.99 | 8.95 c |
Ratios to Average Net Assets and Supplemental Data | ||||||
Net assets, end of period ($ millions) | 1 | 1 | 2 | 3 | 4 | 6 |
Ratio of expenses before expense reductions (%) | 1.81 *** | 1.78 | 1.76 | 1.74 | 1.74 | 1.99 |
Ratio of expenses after expense reductions (%) | 1.55 *** | 1.55 | 1.70 | 1.74 | 1.74 | 1.92 |
Ratio of net investment income (loss) (%) | (.31 )*** | .03 | (.06 ) | (.27 ) | .10 | .26 |
Portfolio turnover rate (%) | 3 ** | 11 | 17 | 27 | 17 | 121 |
a | Based on average shares outstanding during the period. |
b | Total return does not reflect the effect of any sales charges. |
c | Total return would have been lower had certain expenses not been reduced. |
* | Amount is less than $.005. |
** | Not annualized |
*** | Annualized |
DWS ESG Core Equity Fund | | | 15 |
DWS ESG Core Equity Fund — Class R | ||||||
Six Months Ended 5/31/24 | Years Ended November 30, | |||||
(Unaudited) | 2023 | 2022 | 2021 | 2020 | 2019 | |
Selected Per Share Data | ||||||
Net asset value, beginning of period | $19.45 | $17.97 | $21.53 | $17.18 | $15.93 | $17.49 |
Income (loss) from investment operations: | ||||||
Net investment incomea | .02 | .10 | .08 | .04 | .08 | .11 |
Net realized and unrealized gain (loss) | 3.50 | 1.95 | (1.23 ) | 4.92 | 2.25 | .96 |
Total from investment operations | 3.52 | 2.05 | (1.15 ) | 4.96 | 2.33 | 1.07 |
Less distributions from: | ||||||
Net investment income | (.09 ) | (.09 ) | (.03 ) | (.09 ) | (.06 ) | (.12 ) |
Net realized gains | (.37 ) | (.48 ) | (2.38 ) | (.52 ) | (1.02 ) | (2.51 ) |
Total distributions | (.46 ) | (.57 ) | (2.41 ) | (.61 ) | (1.08 ) | (2.63 ) |
Net asset value, end of period | $22.51 | $19.45 | $17.97 | $21.53 | $17.18 | $15.93 |
Total Return (%)b | 18.38 * | 12.07 | (6.17 ) | 29.74 | 15.57 | 9.45 |
Ratios to Average Net Assets and Supplemental Data | ||||||
Net assets, end of period ($ millions) | 35 | 31 | 33 | 41 | 35 | 38 |
Ratio of expenses before expense reductions (%) | 1.33 ** | 1.35 | 1.36 | 1.32 | 1.36 | 1.61 |
Ratio of expenses after expense reductions (%) | 1.05 ** | 1.05 | 1.24 | 1.29 | 1.29 | 1.43 |
Ratio of net investment income (%) | .20 ** | .54 | .42 | .18 | .55 | .75 |
Portfolio turnover rate (%) | 3 * | 11 | 17 | 27 | 17 | 121 |
a | Based on average shares outstanding during the period. |
b | Total return would have been lower had certain expenses not been reduced. |
* | Not annualized |
** | Annualized |
16 | | | DWS ESG Core Equity Fund |
DWS ESG Core Equity Fund — Class R6 | ||||||
Six Months Ended 5/31/24 | Years Ended November 30, | |||||
(Unaudited) | 2023 | 2022 | 2021 | 2020 | 2019 | |
Selected Per Share Data | ||||||
Net asset value, beginning of period | $19.44 | $18.00 | $21.59 | $17.22 | $15.95 | $17.54 |
Income (loss) from investment operations: | ||||||
Net investment incomea | .07 | .18 | .20 | .17 | .18 | .19 |
Net realized and unrealized gain (loss) | 3.49 | 1.95 | (1.23 ) | 4.93 | 2.26 | .95 |
Total from investment operations | 3.56 | 2.13 | (1.03 ) | 5.10 | 2.44 | 1.14 |
Less distributions from: | ||||||
Net investment income | (.19 ) | (.21 ) | (.18 ) | (.21 ) | (.15 ) | (.22 ) |
Net realized gains | (.37 ) | (.48 ) | (2.38 ) | (.52 ) | (1.02 ) | (2.51 ) |
Total distributions | (.56 ) | (.69 ) | (2.56 ) | (.73 ) | (1.17 ) | (2.73 ) |
Net asset value, end of period | $22.44 | $19.44 | $18.00 | $21.59 | $17.22 | $15.95 |
Total Return (%) | 18.68 b* | 12.64 b | (5.58 )b | 30.65 | 16.32 | 10.02 |
Ratios to Average Net Assets and Supplemental Data | ||||||
Net assets, end of period ($ millions) | 2 | 2 | 1 | 1 | 1 | 1 |
Ratio of expenses before expense reductions (%) | .59 ** | .62 | .62 | .59 | .64 | .89 |
Ratio of expenses after expense reductions (%) | .55 ** | .55 | .59 | .59 | .64 | .89 |
Ratio of net investment income (%) | .69 ** | 1.02 | 1.10 | .88 | 1.19 | 1.27 |
Portfolio turnover rate (%) | 3 * | 11 | 17 | 27 | 17 | 121 |
a | Based on average shares outstanding during the period. |
b | Total return would have been lower had certain expenses not been reduced. |
* | Not annualized |
** | Annualized |
DWS ESG Core Equity Fund | | | 17 |
DWS ESG Core Equity Fund — Class S | ||||||
Six Months Ended 5/31/24 | Years Ended November 30, | |||||
(Unaudited) | 2023 | 2022 | 2021 | 2020 | 2019 | |
Selected Per Share Data | ||||||
Net asset value, beginning of period | $19.48 | $18.02 | $21.60 | $17.22 | $15.97 | $17.54 |
Income (loss) from investment operations: | ||||||
Net investment incomea | .07 | .19 | .18 | .15 | .16 | .18 |
Net realized and unrealized gain (loss) | 3.49 | 1.94 | (1.22 ) | 4.94 | 2.26 | .96 |
Total from investment operations | 3.56 | 2.13 | (1.04 ) | 5.09 | 2.42 | 1.14 |
Less distributions from: | ||||||
Net investment income | (.19 ) | (.19 ) | (.16 ) | (.19 ) | (.15 ) | (.20 ) |
Net realized gains | (.37 ) | (.48 ) | (2.38 ) | (.52 ) | (1.02 ) | (2.51 ) |
Total distributions | (.56 ) | (.67 ) | (2.54 ) | (.71 ) | (1.17 ) | (2.71 ) |
Net asset value, end of period | $22.48 | $19.48 | $18.02 | $21.60 | $17.22 | $15.97 |
Total Return (%) | 18.64 b* | 12.63 b | (5.64 )b | 30.56 | 16.14 | 10.02 b |
Ratios to Average Net Assets and Supplemental Data | ||||||
Net assets, end of period ($ millions) | 127 | 111 | 104 | 120 | 101 | 103 |
Ratio of expenses before expense reductions (%) | .69 ** | .72 | .73 | .70 | .74 | 1.00 |
Ratio of expenses after expense reductions (%) | .55 ** | .55 | .67 | .70 | .74 | .92 |
Ratio of net investment income (%) | .70 ** | 1.04 | 1.00 | .78 | 1.09 | 1.26 |
Portfolio turnover rate (%) | 3 * | 11 | 17 | 27 | 17 | 121 |
a | Based on average shares outstanding during the period. |
b | Total return would have been lower had certain expenses not been reduced. |
* | Not annualized |
** | Annualized |
18 | | | DWS ESG Core Equity Fund |
DWS ESG Core Equity Fund — Institutional Class | ||||||
Six Months Ended 5/31/24 | Years Ended November 30, | |||||
(Unaudited) | 2023 | 2022 | 2021 | 2020 | 2019 | |
Selected Per Share Data | ||||||
Net asset value, beginning of period | $19.49 | $18.04 | $21.64 | $17.25 | $15.98 | $17.55 |
Income (loss) from investment operations: | ||||||
Net investment incomea | .07 | .19 | .18 | .16 | .17 | .18 |
Net realized and unrealized gain (loss) | 3.50 | 1.94 | (1.22 ) | 4.94 | 2.27 | .96 |
Total from investment operations | 3.57 | 2.13 | (1.04 ) | 5.10 | 2.44 | 1.14 |
Less distributions from: | ||||||
Net investment income | (.19 ) | (.20 ) | (.18 ) | (.19 ) | (.15 ) | (.20 ) |
Net realized gains | (.37 ) | (.48 ) | (2.38 ) | (.52 ) | (1.02 ) | (2.51 ) |
Total distributions | (.56 ) | (.68 ) | (2.56 ) | (.71 ) | (1.17 ) | (2.71 ) |
Net asset value, end of period | $22.50 | $19.49 | $18.04 | $21.64 | $17.25 | $15.98 |
Total Return (%) | 18.69 b* | 12.61 b | (5.65 )b | 30.61 | 16.27 | 10.02 b |
Ratios to Average Net Assets and Supplemental Data | ||||||
Net assets, end of period ($ millions) | 25 | 21 | 18 | 22 | 15 | 16 |
Ratio of expenses before expense reductions (%) | .65 ** | .68 | .67 | .65 | .68 | .96 |
Ratio of expenses after expense reductions (%) | .55 ** | .55 | .64 | .65 | .68 | .91 |
Ratio of net investment income (%) | .70 ** | 1.05 | 1.02 | .82 | 1.16 | 1.27 |
Portfolio turnover rate (%) | 3 * | 11 | 17 | 27 | 17 | 121 |
a | Based on average shares outstanding during the period. |
b | Total return would have been lower had certain expenses not been reduced. |
* | Not annualized |
** | Annualized |
DWS ESG Core Equity Fund | | | 19 |
20 | | | DWS ESG Core Equity Fund |
DWS ESG Core Equity Fund | | | 21 |
22 | | | DWS ESG Core Equity Fund |
DWS ESG Core Equity Fund | | | 23 |
24 | | | DWS ESG Core Equity Fund |
First $250 million of the Fund’s average daily net assets | .465% |
Next $750 million of such net assets | .460% |
Next $1.5 billion of such net assets | .455% |
Next $5.0 billion of such net assets | .445% |
Next $5.0 billion of such net assets | .435% |
Next $5.0 billion of such net assets | .425% |
Over $17.5 billion of such net assets | .400% |
DWS ESG Core Equity Fund | | | 25 |
Class A | .80% |
Class C | 1.55% |
Class R | 1.05% |
Class R6 | .55% |
Class S | .55% |
Institutional Class | .55% |
Class A | $24,858 |
Class C | 1,360 |
Class R | 46,871 |
Class R6 | 422 |
Class S | 82,788 |
Institutional Class | 11,248 |
$167,547 |
Services to Shareholders | Total Aggregated | Unpaid at May 31, 2024 |
Class A | $6,520 | $2,223 |
Class C | 321 | 141 |
Class R | 81 | 45 |
Class R6 | 110 | 34 |
Class S | 33,640 | 11,983 |
Institutional Class | 333 | 130 |
$41,005 | $14,556 |
26 | | | DWS ESG Core Equity Fund |
Sub-Recordkeeping | Total Aggregated |
Class A | $14,717 |
Class C | 922 |
Class R | 41,666 |
Class S | 30,563 |
Institutional Class | 7,333 |
$95,201 |
Distribution Fee | Total Aggregated | Unpaid at May 31, 2024 |
Class C | $3,854 | $571 |
Class R | 41,666 | 7,305 |
$45,520 | $7,876 |
DWS ESG Core Equity Fund | | | 27 |
Service Fee | Total Aggregated | Unpaid at May 31, 2024 | Annualized Rate |
Class A | $44,536 | $16,481 | .24% |
Class C | 1,240 | 477 | .24% |
Class R | 41,616 | 14,109 | .25% |
$87,392 | $31,067 |
28 | | | DWS ESG Core Equity Fund |
Six Months Ended May 31, 2024 | Year Ended November 30, 2023 | |||
Shares | Dollars | Shares | Dollars | |
Shares sold | ||||
Class A | 66,513 | $1,384,938 | 89,240 | $1,617,779 |
Class C | 2,630 | 52,721 | 9,235 | 158,458 |
Class R | 76,895 | 1,638,687 | 78,825 | 1,435,084 |
Class R6 | 5,127 | 106,726 | 38,339 | 658,657 |
Class S | 137,954 | 2,952,272 | 179,202 | 3,256,470 |
Institutional Class | 158,671 | 3,343,301 | 371,862 | 6,616,948 |
$9,478,645 | $13,743,396 |
DWS ESG Core Equity Fund | | | 29 |
Six Months Ended May 31, 2024 | Year Ended November 30, 2023 | |||
Shares | Dollars | Shares | Dollars | |
Shares issued to shareholders in reinvestment of distributions | ||||
Class A | 43,069 | $857,933 | 67,179 | $1,084,936 |
Class C | 1,169 | 22,324 | 3,764 | 58,373 |
Class R | 36,490 | 726,513 | 64,128 | 1,035,033 |
Class R6 | 2,798 | 55,433 | 2,630 | 42,231 |
Class S | 156,142 | 3,099,416 | 236,536 | 3,805,886 |
Institutional Class | 25,844 | 513,270 | 38,229 | 615,861 |
$5,274,889 | $6,642,320 | |||
Shares redeemed | ||||
Class A | (104,594 ) | $(2,178,115 ) | (198,176 ) | $(3,536,129 ) |
Class C | (30,686 ) | (606,746 ) | (59,346 ) | (1,029,751 ) |
Class R | (160,139 ) | (3,362,636 ) | (355,305 ) | (6,386,002 ) |
Class R6 | (15,334 ) | (314,794 ) | (1,578 ) | (28,538 ) |
Class S | (353,998 ) | (7,406,862 ) | (497,372 ) | (8,878,532 ) |
Institutional Class | (107,916 ) | (2,284,464 ) | (351,171 ) | (6,230,349 ) |
$(16,153,617 ) | $(26,089,301 ) | |||
Net increase (decrease) | ||||
Class A | 4,988 | $64,756 | (41,757 ) | $(833,414 ) |
Class C | (26,887 ) | (531,701 ) | (46,347 ) | (812,920 ) |
Class R | (46,754 ) | (997,436 ) | (212,352 ) | (3,915,885 ) |
Class R6 | (7,409 ) | (152,635 ) | 39,391 | 672,350 |
Class S | (59,902 ) | (1,355,174 ) | (81,634 ) | (1,816,176 ) |
Institutional Class | 76,599 | 1,572,107 | 58,920 | 1,002,460 |
$(1,400,083 ) | $(5,703,585 ) |
30 | | | DWS ESG Core Equity Fund |
DWS ESG Core Equity Fund | | | 31 |
32 | | | DWS ESG Core Equity Fund |
DWS ESG Core Equity Fund | | | 33 |
34 | | | DWS ESG Core Equity Fund |
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 | ||
Item 11. | Statement Regarding Basis for Approval of Investment Advisory Contract. | |
Not applicable | ||
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. | |
There were no material changes to the procedures by which shareholders may recommend nominees to the Fund’s Board. The primary function of the Nominating and Governance Committee is to identify and recommend individuals for membership on the Board and oversee the administration of the Board Governance Guidelines. Shareholders may recommend candidates for Board positions by forwarding their correspondence by U.S. mail or courier service to Keith R. Fox, DWS Funds Board Chair, c/o Thomas R. Hiller, Ropes & Gray LLP, Prudential Tower, 800 Boylston Street, Boston, MA 02199-3600. | ||
Item 16. | Controls and Procedures. | |
(a) | The Chief Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on the evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report. | |
(b) | There have been no changes in the registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is 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 | |
(a)(1) | Not applicable | |
(a)(2) | Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT. | |
(b) | Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) is furnished and attached hereto as Exhibit 99.906CERT. |
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: | DWS ESG Core Equity Fund, a series of Deutsche DWS Investment Trust |
By: | /s/Hepsen Uzcan Hepsen Uzcan Principal Executive Officer |
Date: | 7/30/24 |
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: | /s/Hepsen Uzcan Hepsen Uzcan Principal Executive Officer |
Date: | 7/30/24 |
By: | /s/Diane Kenneally Diane Kenneally Principal Financial Officer |
Date: | 7/30/24 |