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)
345 Park Avenue
New York, New York 10154
(Address of principal executive offices) (Zip code)
Freddi Klassen
DBX ETF Trust
345 Park Avenue
New York, New York 10154
(Name and address of agent for service)
Registrant’s telephone number, including area code: (212) 250-4352
Date of fiscal year end: August 31
Date of reporting period: August 31, 2018
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. | Reports to Stockholders. |
August 31, 2018
Annual Report
DBX ETF Trust
Xtrackers FTSE Developed ex US Comprehensive Factor ETF (DEEF)
Xtrackers FTSE Emerging Comprehensive Factor ETF (DEMG)
Xtrackers Russell 1000 Comprehensive Factor ETF (DEUS)
Xtrackers Russell 1000 US QARP ETF (QARP)
Xtrackers Russell 2000 Comprehensive Factor ETF (DESC)
DBX ETF Trust
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1 | ||||
3 | ||||
Performance Summary | ||||
6 | ||||
8 | ||||
10 | ||||
12 | ||||
14 | ||||
16 | ||||
Schedule of Investments | ||||
17 | ||||
30 | ||||
41 | ||||
50 | ||||
55 | ||||
70 | ||||
72 | ||||
74 | ||||
77 | ||||
80 | ||||
89 | ||||
91 | ||||
Board Considerations in Approval of Investment Advisory Contracts | 94 | |||
96 | ||||
97 |
To our Shareholders: (Unaudited)
Dear Shareholder,
We are pleased to provide this annual report for our five comprehensive factor equity ETFs for the period ended August 31, 2018.
Most major economies surpassed preliminary estimates and displayed robust economic growth. However, growth in the Eurozone and the UK remained flat. Inflation rates followed suit, as all major economies experienced an uptick, within controlled limits. The Federal Reserve Board (FRB) achieved its long-term inflation objective of 2.0% and indicated room for a further increase in interest rates, sighting the market’s potential. On the other hand, the European Central Bank (ECB) continued its liberal monetary policy in light of the still uncertain Brexit1 negotiations. Elsewhere, the impact of the USD’s strengthening, due to its central bank’s policies, partially impacted emerging markets, though they largely held their ground.
The U.S. economy inched higher after consecutive quarters of stable growth, on lower unemployment levels and private inventory investment. U.S. equity markets bucked the trend by charting record levels while justifying high valuations. The passing of the anticipated U.S. tax bill gave a head start to equity markets, while fixed investment and business optimism pumped the continual streak of the rising economy. The positive job market situation sustained faith for consumer demand to continue, which further fueled ongoing business confidence. On a partially detracting note, trade tariffs2 proved to be rather detrimental for the U.S., as exports fell at a faster pace than imports.
The Eurozone gross domestic product (GDP) rebounded through the review period, as the initial up move came from increasing consumer confidence and higher industrial production. However, these gains were reduced at the end of the review cycle, as the same contributing factors slowed down marginally. Eurozone stabilized its unemployment rates from reaching historical decade lows. This was further incentivized with an increase in wage growth. However, the ECB pledged to keep interest rates at ultra-low levels to support a synchronized uptick across the Eurozone. Exports surpassed imports compared to the previous year, expanding the bloc’s balance of trade position.
Most Asian equity markets soared except Chinese equity indices due to the impending trade tariff discrepancies with the U.S. In addition, the housing curbs implied by the Government of China also affected the real estate sector. Elsewhere, strengthening economies, such as Japan and India, buoyed their equity markets to peak levels despite periodic turbulence. Strong business investment and private consumption in Japan also helped bring down the unemployment rate to its lowest level in more than two decades.
Most developed economies are in the extended phase of economic growth, with equity markets also trading at historic highs. While global growth remains solid and monetary policy tightens, investors would closely monitor central bank actions as they move monetary policies towards normalization, albeit at a varying pace. In such volatile markets, diversifying factors may be a better position than pursuing a single-factor approach. However, whether markets remain relatively calm, or we do in fact witness some episodic volatility, our view is that retaining a diversified factor approach is right. It takes advantage of the relatively uncorrelated nature of their excess returns, and mitigates the need to try and time a particular market cycle.
1
Our team appreciates your trust and looks forward to continue serving your investment needs through innovative index-driven strategies.
Sincerely,
/s/ Freddi Klassen
Freddi Klassen
President and Chief Executive Officer
1 Brexit is a combination of the words “Britain” and “Exit” and describes the exit of the United Kingdom from the European Union.
2 Tariffs are used to restrict imports by increasing the price of goods and services purchased from overseas and making them less attractive to consumers. A specific tariff is levied as a fixed fee based on the type of item.
Assumptions, estimates and opinions contained in this document constitute our judgment as of the date of the document and are subject to change without notice. Any projections are based on a number of assumptions as to market conditions and there can be no guarantee that any projected results will be achieved. Past performance is not a guarantee of future results.
2
DBX ETF Trust
Xtrackers FTSE Developed ex US Comprehensive Factor ETF
The Xtrackers FTSE Developed ex-US Comprehensive Factor ETF (DEEF) seeks investment results that correspond generally to the performance, before fees and expenses, of the FTSE Developed ex-US Comprehensive Factor Index (the DEEF Index). The DEEF index is designed to provide exposure to developed international equities (except the United States) based on five factors — value, momentum, quality, low volatility and size. For the 12-month period ended August 31, 2018, DEEF shares returned 5.32%, compared to the DEEF Index return of 5.96%.
The majority of the sectors contributed positively to performance during the period, with the greatest contributions coming from Materials, Information Technology, and Industrials. Telecommunications and Utilities were the only negative contributors to performance.
Xtrackers FTSE Emerging Comprehensive Factor ETF
The Xtrackers FTSE Emerging Comprehensive Factor ETF (DEMG) seeks investment results that correspond generally to the performance, before fees and expenses, of the FTSE Emerging Comprehensive Factor Index (the DEMG Index). The DEMG index is designed to provide exposure to emerging market equities based on five factors — value, momentum, quality, low volatility, and size. For the 12-month period ended August 31, 2018, DEMG shares returned -5.89%, compared to the DEMG Index return of -5.26%.
The majority of the sectors contributed negatively to performance during the period owing to a combination of factors, such as the USD strengthening, higher crude oil prices, and trade tariff discrepancies. Consumer Discretionary, Utilities, and Information Technology detracted the most from the performance, while Materials and Energy contributed positively to performance. From a geographical perspective, Taiwan (Republic of China), the Russian Federation, and India were the major positive contributors, while Turkey, Brazil, and Poland contributed negatively to performance.
Xtrackers Russell 1000 Comprehensive Factor ETF
The Xtrackers Russell 1000 Comprehensive Factor ETF (DEUS) seeks investment results that correspond generally to the performance, before fees and expenses, of the Russell 1000 Comprehensive Factor Index (the DEUS Index). The DEUS index is designed to provide exposure to large-cap United States equities based on five factors — value, momentum, quality, low volatility and size. For the 12-month period ended August 31, 2018, DEUS shares returned 16.97%, compared to the DEUS Index return of 17.15%.
The majority of the sectors contributed positively to performance during the period, with the greatest contribution coming from Information Technology, Industrials, and Healthcare. Telecommunications was the only negative contributor to performance.
Xtrackers Russell 1000 US QARP ETF
The Xtrackers Russell 1000 US QARP ETF (QARP) seeks investment results that correspond generally to the performance, before fees and expenses, of the Russell 1000 2Qual/Val 5% Capped Factor Index. Russell 1000 2Qual/Val 5% Capped Factor Index is a multifactor index designed to capture exposure to large-cap U.S. equities that exhibit strong quality and value factor characteristics. For the period ended April 5, 2018 (Commencement of Operations) to August 31, 2018, QARP shares returned 9.52%, compared to the QARP Index return of 9.65%.
All sectors contributed negatively to performance during the period, with Consumer Discretionary, Financials, and Industrials detracting the most from performance.
Xtrackers Russell 2000 Comprehensive Factor ETF
The Xtrackers Russell 2000 Comprehensive Factor ETF (DESC) seeks investment results that correspond generally to the performance, before fees and expenses, of the Russell 2000 Comprehensive Factor Index (the DESC Index). The DESC index is designed to provide exposure to small-cap United States equities based on five factors — value, momentum, quality, low volatility and size. For the 12-month period ended August 31, 2018, DESC shares returned 25.08%, compared to the DESC Index return of 25.49%.
3
DBX ETF Trust
Management’s Discussion on Fund Performance (Unaudited) (Continued)
All sectors contributed positively to performance during the period with the greatest contribution coming from Consumer Discretionary, Industrials, and Information Technology.
*************************
Performance data quoted represents past performance and does not guarantee future results. Investment returns and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. To obtain the most recent month-end performance data visit www.Xtrackers.com. Returns assume that dividends and capital gains distributions have been reinvested. See pages 6-15 of this report for additional performance information, including performance data based on market value.
The views expressed in this report reflect those of the portfolio management team only through the end of the period of the report as stated on the cover. The management team’s views are subject to change at any time based on market and other conditions and should not be construed as a recommendation. Current and future portfolio holdings are subject to risk.
4
This Page is Intentionally Left Blank
5
DBX ETF Trust
Performance Summary (Unaudited)
Xtrackers FTSE Developed ex US Comprehensive Factor ETF (DEEF)
Xtrackers FTSE Developed ex US Comprehensive Factor ETF (the “Fund”) seeks investment results that correspond generally to the performance, before fees and expenses, of the FTSE Developed ex US Comprehensive Factor Index (the “Underlying Index”). The Underlying Index is designed to track the equity market performance of companies in developed countries (except the United States) selected on the investment style criteria (“factors”) of value, momentum, quality, low volatility and size. The companies eligible for the Underlying Index are derived from its starting universe, the FTSE Developed ex US Index, which is comprised of large- and mid-capitalization equity securities from developed markets (except the United States). It is not possible to invest directly into an index.
Performance as of 8/31/18 |
Average Annual Total Returns | ||||||||
Net Asset Value | Market Value | FTSE Developed ex US Comprehensive Factor Index | FTSE Developed ex US Net Tax (US RIC) Index | |||||
One Year | 5.32% | 4.61% | 5.96% | 4.92% | ||||
Since Inception1 | 8.44% | 8.38% | 9.25% | 8.18% | ||||
Cumulative Total Returns | ||||||||
Net Asset Value | Market Value | FTSE Developed ex US Comprehensive Factor Index | FTSE Developed ex US Net Tax (US RIC) Index | |||||
One Year | 5.32% | 4.61% | 5.96% | 4.92% | ||||
Since Inception1 | 25.18% | 25.01% | 27.80% | 24.37% |
1 Total returns are calculated based on the commencement of operations, 11/24/15 (“Inception”).
Past performance is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available at www.Xtrackers.com. Performance results assume reinvestment of all dividends and capital gain distributions and do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the sale of fund shares or redemption of fund creation units. The investment return and principal value of shares will vary with changes in market conditions. Shares may be worth more or less than their original cost when they are sold in the market or redeemed. The estimated operating expense ratio as disclosed in the most recent prospectus dated December 29, 2017, was 0.35%, and may differ from the expense ratio disclosed in the Financial Highlights table in this report.
The Fund’s net asset value or “NAV” is calculated by dividing the value of the Fund’s total assets less total liabilities by the number of share outstanding. The price used to calculate market return (“Market Price”) is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which shares of a fund are listed for trading, as of the time that such fund’s NAV is calculated. Since shares of a fund may not have traded in the secondary market until after the fund’s inception, for the period from inception to the first day of secondary trading, the NAV of the fund is used as a proxy for the Market Price to calculate market returns. Market and NAV returns assume that dividends and capital gain distributions have been reinvested at Market Price and NAV, respectively.
An index is a statistical composite that tracks a specified financial market or sector. Unlike a fund, an index does not actually hold a portfolio of securities and therefore does not incur the expenses incurred by a fund. These expenses negatively impact fund performance. Also, market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, market returns would be lower.
6
DBX ETF Trust
Performance Summary (Unaudited)
Xtrackers FTSE Developed ex US Comprehensive Factor ETF (DEEF) (Continued)
Growth of an Assumed $10,000 Investment |
1 Based on Net Asset Value from commencement of operations, 11/24/15.
Sector Diversification* as of 8/31/18 |
Industrials | 23.3% | |||
Consumer Discretionary | 14.7% | |||
Materials | 11.9% | |||
Real Estate | 11.8% | |||
Financials | 8.6% | |||
Consumer Staples | 8.4% | |||
Information Technology | 6.0% | |||
Utilities | 5.1% | |||
Health Care | 4.3% | |||
Energy | 3.6% | |||
Telecommunication Services | 2.3% | |||
|
| |||
Total | 100.0% |
Ten Largest Equity Holdings as of 8/31/18 (7.9% of Net Assets) |
Description | % of Net Assets | |||
Segro PLC (United Kingdom) | 1.0% | |||
Link (Hong Kong) | 1.0% | |||
3i Group PLC (United Kingdom) | 0.9% | |||
Svenska Cellulosa AB SCA (Sweden) | 0.8% | |||
Gecina SA (France) | 0.8% | |||
Magna International, Inc. (Canada) | 0.8% | |||
Koninklijke DSM NV (Netherlands) | 0.8% | |||
DSV A/S (Denmark) | 0.6% | |||
Caltex Australia Ltd. (Australia) | 0.6% | |||
Kinnevik AB (Sweden) | 0.6% |
Country Diversification* as of 8/31/18 |
Japan | 23.2% | |||
United Kingdom | 12.9% | |||
Australia | 8.9% | |||
France | 7.8% | |||
Germany | 5.9% | |||
Sweden | 5.5% | |||
Canada | 5.4% | |||
Hong Kong | 4.4% | |||
Switzerland | 4.0% | |||
South Korea | 3.4% | |||
Netherlands | 2.6% | |||
Singapore | 2.6% | |||
Finland | 2.1% | |||
Denmark | 2.0% | |||
Other | 9.3% | |||
|
| |||
Total | 100.0% |
* As a percent of total investments excluding securities lending collateral.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 17.
7
DBX ETF Trust
Performance Summary (Unaudited)
Xtrackers FTSE Emerging Comprehensive Factor ETF (DEMG)
Xtrackers FTSE Emerging Comprehensive Factor ETF (the “Fund”) seeks investment results that correspond generally to the performance, before fees and expenses, of the FTSE Emerging Comprehensive Factor Index (the “Underlying Index”). The Underlying Index is designed to track the equity market performance of companies in emerging market countries 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 Emerging Index, which is comprised of large- and mid-cap equity securities from emerging markets. It is not possible to invest directly into an index.
Performance as of 8/31/18 |
Average Annual Total Returns | ||||||||
Net Asset Value | Market Value | FTSE Emerging Comprehensive Factor Index | FTSE Emerging Net Tax (US RIC) Index | |||||
One Year | -5.89% | -6.18% | -5.26% | -1.63% | ||||
Since Inception1 | 5.35% | 5.36% | 6.97% | 11.56% | ||||
Cumulative Total Returns | ||||||||
Net Asset Value | Market Value | FTSE Emerging Comprehensive Factor Index | FTSE Emerging Net Tax (US RIC) Index | |||||
One Year | -5.89% | -6.18% | -5.26% | -1.63% | ||||
Since Inception1 | 13.16% | 13.17% | 17.31% | 29.59% |
1 Total returns are calculated based on the commencement of operations, 4/19/16 (“Inception”).
Past performance is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available at www.Xtrackers.com. Performance results assume reinvestment of all dividends and capital gain distributions and do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the sale of fund shares or redemption of fund creation units. The investment return and principal value of shares will vary with changes in market conditions. Shares may be worth more or less than their original cost when they are sold in the market or redeemed. The estimated operating expense ratio as disclosed in the most recent prospectus dated December 29, 2017, was 0.50%, and may differ from the expense ratio disclosed in the Financial Highlights table in this report.
The Fund’s net asset value or “NAV” is calculated by dividing the value of the Fund’s total assets less total liabilities by the number of share outstanding. The price used to calculate market return (“Market Price”) is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which shares of a fund are listed for trading, as of the time that such fund’s NAV is calculated. Since shares of a fund may not have traded in the secondary market until after the fund’s inception, for the period from inception to the first day of secondary trading, the NAV of the fund is used as a proxy for the Market Price to calculate market returns. Market and NAV returns assume that dividends and capital gain distributions have been reinvested at Market Price and NAV, respectively.
An index is a statistical composite that tracks a specified financial market or sector. Unlike a fund, an index does not actually hold a portfolio of securities and therefore does not incur the expenses incurred by a fund. These expenses negatively impact fund performance. Also, market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, market returns would be lower.
8
DBX ETF Trust
Performance Summary (Unaudited)
Xtrackers FTSE Emerging Comprehensive Factor ETF (DEMG) (Continued)
Growth of an Assumed $10,000 Investment |
1 Based on Net Asset Value from commencement of operations, 4/19/16.
Sector Diversification* as of 8/31/18 |
Industrials | 12.1% | |||
Financials | 11.6% | |||
Materials | 11.6% | |||
Energy | 11.0% | |||
Consumer Staples | 10.7% | |||
Information Technology | 10.7% | |||
Consumer Discretionary | 9.5% | |||
Utilities | 8.1% | |||
Real Estate | 6.8% | |||
Telecommunication Services | 4.6% | |||
Health Care | 3.3% | |||
|
| |||
Total | 100.0% |
Ten Largest Equity Holdings as of 8/31/18 (8.6% of Net Assets) |
Description | % of Net Assets | |||
China Petroleum & Chemical Corp. (China) | 1.4% | |||
China Shenhua Energy Co. Ltd. (China) | 1.0% | |||
Kingboard Holdings Ltd. (Hong Kong) | 1.0% | |||
SPAR Group Ltd. (South Africa) | 0.9% | |||
MOL Hungarian Oil & Gas PLC (Hungary) | 0.8% | |||
Thai Oil PCL, NVDR (Thailand) | 0.8% | |||
Sime Darby Bhd (Malaysia) | 0.7% | |||
Synnex Technology International Corp. (Taiwan) | 0.7% | |||
Asustek Computer, Inc. (Taiwan) | 0.7% | |||
Uni-President Enterprises Corp. (Taiwan) | 0.6% |
Country Diversification* as of 8/31/18 |
China | 16.6% | |||
Taiwan | 14.0% | |||
South Africa | 10.0% | |||
India | 7.9% | |||
Brazil | 6.9% | |||
Thailand | 6.8% | |||
Malaysia | 6.0% | |||
Hong Kong | 5.1% | |||
Mexico | 5.0% | |||
Russia | 3.3% | |||
Philippines | 2.6% | |||
Turkey | 2.6% | |||
Chile | 2.6% | |||
Poland | 2.1% | |||
Indonesia | 2.0% | |||
Other | 6.5% | |||
|
| |||
Total | 100.0% |
* As a percent of total investments excluding exchange-traded funds and securities lending collateral.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 30.
9
DBX ETF Trust
Performance Summary (Unaudited)
Xtrackers Russell 1000 Comprehensive Factor ETF (DEUS)
Xtrackers Russell 1000 Comprehensive Factor ETF (the “Fund”) seeks investment results that correspond generally to the performance, before fees and expenses, of the Russell 1000 Comprehensive Factor Index (the “Underlying Index”). The Underlying Index is designed to track the equity market performance of companies in the United States selected on the investment style criteria (“factors”) of value, momentum, quality, low volatility and size. The companies eligible for the Underlying Index are derived from its starting universe, the Russell 1000 Index, which is comprised of large-cap equity securities from issuers in the United States. It is not possible to invest directly into an index.
Performance as of 8/31/18 |
Average Annual Total Returns | ||||||||
Net Asset Value | Market Value | Russell 1000 Comprehensive Factor Index | Russell 1000 Index Total Return | |||||
One Year | 16.97% | 17.00% | 17.15% | 19.82% | ||||
Since Inception1 | 13.63% | 13.64% | 13.88% | 14.94% | ||||
Cumulative Total Returns | ||||||||
Net Asset Value | Market Value | Russell 1000 Comprehensive Factor Index | Russell 1000 Index Total Return | |||||
One Year | 16.97% | 17.00% | 17.15% | 19.82% | ||||
Since Inception1 | 42.51% | 42.55% | 43.40% | 47.13% |
1 Total returns are calculated based on the commencement of operations, 11/24/15 (“Inception”).
Past performance is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available at www.Xtrackers.com. Performance results assume reinvestment of all dividends and capital gain distributions and do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the sale of fund shares or redemption of fund creation units. The investment return and principal value of shares will vary with changes in market conditions. Shares may be worth more or less than their original cost when they are sold in the market or redeemed. Performance for certain funds may reflect a waiver of a portion of investment management fees. Without such waiver, performance would have been lower. The estimated operating expense ratio as disclosed in the most recent prospectus dated December 29, 2017, as supplemented July 17, 2018, was 0.17%, and may differ from the expense ratio disclosed in the Financial Highlights table in this report.
The Fund’s net asset value or “NAV” is calculated by dividing the value of the Fund’s total assets less total liabilities by the number of share outstanding. The price used to calculate market return (“Market Price”) is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which shares of a fund are listed for trading, as of the time that such fund’s NAV is calculated. Since shares of a fund may not have traded in the secondary market until after the fund’s inception, for the period from inception to the first day of secondary trading, the NAV of the fund is used as a proxy for the Market Price to calculate market returns. Market and NAV returns assume that dividends and capital gain distributions have been reinvested at Market Price and NAV, respectively.
An index is a statistical composite that tracks a specified financial market or sector. Unlike a fund, an index does not actually hold a portfolio of securities and therefore does not incur the expenses incurred by a fund. These expenses negatively impact fund performance. Also, market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, market returns would be lower.
10
DBX ETF Trust
Performance Summary (Unaudited)
Xtrackers Russell 1000 Comprehensive Factor ETF (DEUS) (Continued)
Growth of an Assumed $10,000 Investment |
1 Based on Net Asset Value from commencement of operations, 11/24/15.
Sector Diversification* as of 8/31/18 |
Consumer Discretionary | 19.2% | |||
Industrials | 17.3% | |||
Information Technology | 16.5% | |||
Financials | 13.0% | |||
Health Care | 9.5% | |||
Materials | 5.9% | |||
Utilities | 5.7% | |||
Consumer Staples | 5.6% | |||
Real Estate | 4.0% | |||
Energy | 3.1% | |||
Telecommunication Services | 0.2% | |||
|
| |||
Total | 100.0% |
Ten Largest Equity Holdings as of 8/31/18 (7.4% of Net Assets) |
Description | % of Net Assets | |||
Target Corp. | 1.0% | |||
Dollar General Corp. | 0.9% | |||
Ross Stores, Inc. | 0.8% | |||
Lear Corp. | 0.8% | |||
Centene Corp. | 0.7% | |||
Torchmark Corp. | 0.7% | |||
LyondellBasell Industries NV | 0.7% | |||
Valero Energy Corp. | 0.6% | |||
Phillips 66 | 0.6% | |||
CDW Corp. | 0.6% |
* As a percent of total investments excluding securities lending collateral.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 41.
11
DBX ETF Trust
Performance Summary (Unaudited)
Xtrackers Russell 1000 US QARP ETF (QARP)
Xtrackers Russell 1000 US QARP ETF (the “Fund”) seeks investment results that correspond generally to the performance, before fees and expenses, of the Russell 1000 2Qual/Val 5% Capped Factor Index (the “Underlying Index”). The Underlying Index is designed to track the equity market performance of companies in the United States selected on the investment style criteria (“factors”) of quality and value. The companies eligible for the Underlying Index are derived from its starting universe, the Russell 1000 Index, which is comprised of large-cap equity securities from issuers in the United States. It is not possible to invest directly into an index.
Performance as of 8/31/18 |
Cumulative Total Returns | ||||||||
Net Asset Value | Market Value | Russell 1000 2Qual/Val 5% Capped Factor Index | Russell 1000 Index Total Return | |||||
Since Inception1 | 9.52% | 9.56% | 9.65% | 10.72% |
1 Total returns are calculated based on the commencement of operations, 4/5/18 (“Inception”).
Past performance is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available at www.Xtrackers.com. Performance results assume reinvestment of all dividends and capital gain distributions and do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the sale of fund shares or redemption of fund creation units. The investment return and principal value of shares will vary with changes in market conditions. Shares may be worth more or less than their original cost when they are sold in the market or redeemed. The estimated operating expense ratio as disclosed in the most recent prospectus dated January 19, 2018, was 0.19%, and may differ from the expense ratio disclosed in the Financial Highlights table in this report.
The Fund’s net asset value or “NAV” is calculated by dividing the value of the Fund’s total assets less total liabilities by the number of share outstanding. The price used to calculate market return (“Market Price”) is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which shares of a fund are listed for trading, as of the time that such fund’s NAV is calculated. Since shares of a fund may not have traded in the secondary market until after the fund’s inception, for the period from inception to the first day of secondary trading, the NAV of the fund is used as a proxy for the Market Price to calculate market returns. Market and NAV returns assume that dividends and capital gain distributions have been reinvested at Market Price and NAV, respectively.
An index is a statistical composite that tracks a specified financial market or sector. Unlike a fund, an index does not actually hold a portfolio of securities and therefore does not incur the expenses incurred by a fund. These expenses negatively impact fund performance. Also, market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, market returns would be lower.
12
DBX ETF Trust
Performance Summary (Unaudited)
Xtrackers Russell 1000 US QARP ETF (QARP) (Continued)
Growth of an Assumed $10,000 Investment |
1 Based on Net Asset Value from commencement of operations, 4/5/18.
Sector Diversification* as of 8/31/18 |
Information Technology | 26.3% | |||
Consumer Discretionary | 16.2% | |||
Health Care | 15.3% | |||
Industrials | 12.6% | |||
Consumer Staples | 11.2% | |||
Energy | 7.5% | |||
Financials | 4.3% | |||
Materials | 2.3% | |||
Utilities | 1.8% | |||
Real Estate | 1.7% | |||
Telecommunication Services | 0.8% | |||
|
| |||
100.0% |
Ten Largest Equity Holdings as of 8/31/18 (29.1% of Net Assets) |
Description | % of Net Assets | |||
Apple, Inc. | 5.5% | |||
Alphabet, Inc. | 3.9% | |||
Johnson & Johnson | 3.3% | |||
Exxon Mobil Corp. | 3.3% | |||
Home Depot, Inc. | 2.4% | |||
Boeing Co. | 2.4% | |||
Visa, Inc. | 2.2% | |||
Intel Corp. | 2.1% | |||
Walmart, Inc. | 2.0% | |||
Procter & Gamble Co. | 2.0% |
* As a percent of total investments.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 50.
13
DBX ETF Trust
Performance Summary (Unaudited)
Xtrackers Russell 2000 Comprehensive Factor ETF (DESC)
Xtrackers Russell 2000 Comprehensive Factor ETF (the “Fund”) seeks investment results that correspond generally to the performance, before fees and expenses, of the Russell 2000 Comprehensive Factor Index (the “Underlying Index”). The Underlying Index is designed to track the equity market performance of companies in the United States selected on the investment style criteria (“factors”) of value, momentum, quality, low volatility and size. The companies eligible for the Underlying Index are derived from its starting universe, the Russell 2000 Index, which is comprised of small-cap equity securities from issuers in the United States. It is not possible to invest directly into an index.
Performance as of 8/31/18 |
Average Annual Total Returns | ||||||||
Net Asset Value | Market Value | Russell 2000 Comprehensive Factor Index | Russell 2000 Index Total Return | |||||
One Year | 25.08% | 24.74% | 25.49% | 25.45% | ||||
Since Inception1 | 23.47% | 23.42% | 23.85% | 25.67% | ||||
Cumulative Total Returns | ||||||||
Net Asset Value | Market Value | Russell 2000 Comprehensive Factor Index | Russell 2000 Index Total Return | |||||
One Year | 25.08% | 24.74% | 25.49% | 25.45% | ||||
Since Inception1 | 58.28% | 58.15% | 59.34% | 64.47% |
1 Total returns are calculated based on the commencement of operations, 6/28/16 (“Inception”).
Past performance is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available at www.Xtrackers.com. Performance results assume reinvestment of all dividends and capital gain distributions and do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the sale of fund shares or redemption of fund creation units. The investment return and principal value of shares will vary with changes in market conditions. Shares may be worth more or less than their original cost when they are sold in the market or redeemed. The estimated operating expense ratio as disclosed in the most recent prospectus dated December 29, 2017, was 0.30%, and may differ from the expense ratio disclosed in the Financial Highlights table in this report.
The Fund’s net asset value or “NAV” is calculated by dividing the value of the Fund’s total assets less total liabilities by the number of share outstanding. The price used to calculate market return (“Market Price”) is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which shares of a fund are listed for trading, as of the time that such fund’s NAV is calculated. Since shares of a fund may not have traded in the secondary market until after the fund’s inception, for the period from inception to the first day of secondary trading, the NAV of the fund is used as a proxy for the Market Price to calculate market returns. Market and NAV returns assume that dividends and capital gain distributions have been reinvested at Market Price and NAV, respectively.
An index is a statistical composite that tracks a specified financial market or sector. Unlike a fund, an index does not actually hold a portfolio of securities and therefore does not incur the expenses incurred by a fund. These expenses negatively impact fund performance. Also, market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, market returns would be lower.
14
DBX ETF Trust
Performance Summary (Unaudited)
Xtrackers Russell 2000 Comprehensive Factor ETF (DESC) (Continued)
Growth of an Assumed $10,000 Investment |
1 Based on Net Asset Value from commencement of operations, 6/28/16.
Sector Diversification* as of 8/31/18 |
Financials | 28.7% | |||
Consumer Discretionary | 17.3% | |||
Industrials | 17.0% | |||
Information Technology | 10.7% | |||
Health Care | 7.3% | |||
Real Estate | 6.4% | |||
Materials | 4.4% | |||
Energy | 3.1% | |||
Consumer Staples | 2.6% | |||
Utilities | 1.8% | |||
Telecommunication Services | 0.7% | |||
|
| |||
100.0% |
Ten Largest Equity Holdings as of 8/31/18 (3.1% of Net Assets) |
Description | % of Net Assets | |||
DSW, Inc. | 0.4% | |||
Renewable Energy Group, Inc. | 0.3% | |||
Genesco, Inc. | 0.3% | |||
Caleres, Inc. | 0.3% | |||
Materion Corp. | 0.3% | |||
Warrior Met Coal, Inc. | 0.3% | |||
RH | 0.3% | |||
Schnitzer Steel Industries, Inc. | 0.3% | |||
Electro Scientific Industries, Inc. | 0.3% | |||
BJ’s Restaurants, Inc. | 0.3% |
* As a percent of total investments excluding exchange traded funds and securities lending collateral.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 55.
15
DBX ETF Trust
As a shareholder of one or more of the Funds, you incur two types of costs: (1) transaction costs, including brokerage commissions paid on purchases and sales of fund shares, and (2) ongoing costs, including management fees and other Fund expenses. In the most recent six-month period Xtrackers Russell 1000 Comprehensive Factor ETF limited these expenses; had they not done so, expenses would have been higher. The expense examples below are intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with the ongoing costs of investing in other funds.
The examples in the table are based on an investment of $1,000 invested at the beginning of the six-month period and held for the entire period (March 1, 2018 to August 31, 2018), except for Xtrackers Russell 1000 QARP ETF which is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (commencement of operations, as noted below, to August 31, 2018).
Actual expenses
The first line in the following tables provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading “Expenses Paid During the Period” to estimate the expenses you paid on your account during this period.
Hypothetical example for comparison purposes
The second line in the following tables provides information about hypothetical account values and hypothetical expenses based on the Funds’ actual expense ratios and an assumed rate of return of 5% per year before expenses (which is not the Funds’ actual return). The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Please note that the expenses shown in the tables are meant to highlight your ongoing costs only, and do not reflect any transactional costs. Therefore the second line in the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
Beginning Account Value March 1, 2018 | Ending Account Value August 31, 2018 | Annualized Expense Ratio | Expenses Paid During the Period Per $1,000(1) | |||||||||||||
Xtrackers FTSE Developed ex US Comprehensive Factor ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 978.10 | 0.35 | % | $ | 1.75 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,023.44 | 0.35 | % | $ | 1.79 | ||||||||
Xtrackers FTSE Emerging Comprehensive Factor ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 882.40 | 0.50 | % | $ | 2.37 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,022.68 | 0.50 | % | $ | 2.55 | ||||||||
Xtrackers Russell 1000 Comprehensive Factor ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,069.90 | 0.17 | % | $ | 0.89 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,024.35 | 0.17 | % | $ | 0.87 | ||||||||
Xtrackers Russell 1000 QARP ETF | ||||||||||||||||
Actual (2) | $ | 1,000.00 | $ | 1,095.20 | 0.19 | % | $ | 0.81 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,024.25 | 0.19 | % | $ | 0.97 | ||||||||
Xtrackers Russell 2000 Comprehensive Factor ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,163.90 | 0.30 | % | $ | 1.64 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,023.69 | 0.30 | % | $ | 1.53 |
(1) Expenses are equal to each Fund’s annualized expense ratio, multiplied by the average account value over the period, multiplied by 184 (the number of days in the most recent six-month period), then divided by 365.
(2) Expenses are equal to each Fund’s annualized expense ratio, multiplied by the average account value over the period, multiplied by 149 (the number of days in the period April 05, 2018 (commencement of operations) to August 31, 2018), then divided by 365.
16
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Comprehensive Factor ETF
August 31, 2018
Number | Value | |||||||
COMMON STOCKS — 99.4% | ||||||||
Australia — 8.9% | ||||||||
Adelaide Brighton Ltd. | 14,731 | $ | 68,608 | |||||
AGL Energy Ltd. | 3,744 | 56,265 | ||||||
Alumina Ltd. | 38,166 | 79,493 | ||||||
Amcor Ltd. | 6,238 | 64,512 | ||||||
AMP Ltd. | 3,805 | 9,191 | ||||||
Ansell Ltd. | 1,425 | 25,867 | ||||||
APA Group (a) | 6,981 | 50,487 | ||||||
Aristocrat Leisure Ltd. | 7,344 | 167,780 | ||||||
ASX Ltd. | 1,338 | 65,451 | ||||||
Atlas Arteria Ltd. (a) | 12,814 | 63,758 | ||||||
Aurizon Holdings Ltd. | 3,912 | 11,882 | ||||||
AusNet Services | 20,562 | 24,462 | ||||||
Australia & New Zealand Banking Group Ltd. | 406 | 8,662 | ||||||
Bank of Queensland Ltd. | 974 | 8,094 | ||||||
Bendigo & Adelaide Bank Ltd. | 1,789 | 14,995 | ||||||
BHP Billiton Ltd. | 1,214 | 29,157 | ||||||
BHP Billiton PLC | 2,029 | 43,350 | ||||||
BlueScope Steel Ltd. | 4,118 | 51,552 | ||||||
Boral Ltd. | 733 | 3,711 | ||||||
Brambles Ltd. | 11,688 | 92,727 | ||||||
Caltex Australia Ltd. | 15,905 | 347,490 | ||||||
Challenger Ltd. | 2,729 | 21,374 | ||||||
CIMIC Group Ltd. | 1,393 | 49,646 | ||||||
Coca-Cola Amatil Ltd. | 3,161 | 21,466 | ||||||
Cochlear Ltd. | 773 | 120,645 | ||||||
Computershare Ltd. | 8,045 | 111,825 | ||||||
Crown Resorts Ltd. | 8,906 | 91,460 | ||||||
CSL Ltd. | 355 | 58,359 | ||||||
CSR Ltd. | 22,495 | 70,117 | ||||||
Dexus REIT | 34,745 | 269,368 | ||||||
Domain Holdings Australia Ltd. | 3,658 | 9,497 | ||||||
DuluxGroup Ltd. | 12,653 | 71,924 | ||||||
Fairfax Media Ltd. | 12,550 | 7,987 | ||||||
Flight Centre Travel Group Ltd. | 960 | 40,559 | ||||||
Goodman Group REIT | 17,980 | 139,134 | ||||||
GPT Group REIT | 62,359 | 233,157 | ||||||
Harvey Norman Holdings Ltd. (b) | 8,939 | 23,273 | ||||||
Healthscope Ltd. | 5,814 | 9,208 | ||||||
Iluka Resources Ltd. | 928 | 6,228 | ||||||
Incitec Pivot Ltd. | 5,943 | 16,848 | ||||||
Insurance Australia Group Ltd. | 24,756 | 138,215 | ||||||
IOOF Holdings Ltd. | 5,580 | 33,898 | ||||||
LendLease Group (a) | 7,390 | 109,508 | ||||||
Macquarie Group Ltd. | 76 | 7,112 | ||||||
Magellan Financial Group Ltd. | 1,468 | 29,748 | ||||||
Medibank Pvt Ltd. | 73,539 | 161,678 | ||||||
Metcash Ltd. | 17,938 | 35,805 | ||||||
Mirvac Group REIT | 144,790 | 254,451 | ||||||
National Australia Bank Ltd. | 209 | 4,288 | ||||||
Newcrest Mining Ltd. | 531 | 7,446 | ||||||
Oil Search Ltd. | 8,150 | 52,811 | ||||||
Orica Ltd. | 1,783 | 22,682 | ||||||
Origin Energy Ltd.* | 1,535 | 8,825 | ||||||
Orora Ltd. | 37,228 | 95,039 | ||||||
OZ Minerals Ltd. | 1,265 | 8,298 |
Number | Value | |||||||
Australia (Continued) | ||||||||
Perpetual Ltd. | 1,022 | $ | 32,440 | |||||
Platinum Asset Management Ltd. | 6,604 | 25,838 | ||||||
Qantas Airways Ltd. | 10,973 | 51,026 | ||||||
Ramsay Health Care Ltd. | 914 | 36,818 | ||||||
REA Group Ltd. | 640 | 42,179 | ||||||
Scentre Group REIT | 71,522 | 212,589 | ||||||
SEEK Ltd. | 5,125 | 83,023 | ||||||
Shopping Centres Australasia Property Group REIT | 56,747 | 98,905 | ||||||
Sonic Healthcare Ltd. | 5,514 | 104,439 | ||||||
South32 Ltd. | 6,030 | 15,176 | ||||||
Star Entertainment Group Ltd. | 9,999 | 38,977 | ||||||
Stockland REIT | 43,011 | 128,466 | ||||||
Suncorp Group Ltd. | 2,532 | 28,364 | ||||||
Sydney Airport (a) | 4,935 | 25,732 | ||||||
Tabcorp Holdings Ltd. | 1,992 | 6,915 | ||||||
Telstra Corp. Ltd. | 5,535 | 12,409 | ||||||
TPG Telecom Ltd. | 1,750 | 10,935 | ||||||
Transurban Group (a)(c) | 4,682 | 40,835 | ||||||
Treasury Wine Estates Ltd. | 2,665 | 37,525 | ||||||
Vicinity Centres REIT | 102,711 | 205,757 | ||||||
Wesfarmers Ltd. | 3,052 | 113,561 | ||||||
Westpac Banking Corp. | 249 | 5,139 | ||||||
Woodside Petroleum Ltd. | 4,784 | 127,562 | ||||||
Woolworths Group Ltd. | 6,583 | 134,731 | ||||||
|
| |||||||
5,248,714 | ||||||||
|
| |||||||
Austria — 0.4% | ||||||||
ANDRITZ AG | 497 | 29,491 | ||||||
Erste Group Bank AG* | 124 | 4,944 | ||||||
OMV AG | 1,957 | 103,898 | ||||||
Telekom Austria AG* | 4,847 | 41,958 | ||||||
Vienna Insurance Group AG Wiener Versicherung Gruppe | 249 | 6,803 | ||||||
voestalpine AG | 779 | 35,022 | ||||||
|
| |||||||
222,116 | ||||||||
|
| |||||||
Belgium — 0.7% | ||||||||
Ackermans & van Haaren NV | 115 | 20,552 | ||||||
Ageas | 405 | 21,007 | ||||||
bpost SA | 3,981 | 60,446 | ||||||
Colruyt SA | 1,460 | 86,974 | ||||||
KBC Group NV | 123 | 8,758 | ||||||
Proximus SADP | 1,825 | 42,139 | ||||||
Sofina SA | 120 | 23,819 | ||||||
Solvay SA | 445 | 59,361 | ||||||
Telenet Group Holding NV* | 130 | 7,124 | ||||||
UCB SA | 395 | 36,197 | ||||||
Umicore SA | 730 | 40,803 | ||||||
|
| |||||||
407,180 | ||||||||
|
| |||||||
Bermuda (d) — 0.0% | ||||||||
Hiscox Ltd. | 310 | 6,789 | ||||||
|
| |||||||
Canada — 5.3% | ||||||||
Alimentation Couche-Tard, Inc., Class B | 1,047 | 50,168 | ||||||
ARC Resources Ltd. | 325 | 3,452 | ||||||
Bank of Montreal | 64 | 5,250 |
See Notes to Financial Statements. | 17 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
Canada (Continued) | ||||||||
Bank of Nova Scotia | 352 | $ | 20,389 | |||||
BCE, Inc. | 679 | 27,718 | ||||||
Brookfield Asset Management, Inc., Class A | 817 | 34,937 | ||||||
Canadian Imperial Bank of Commerce | 429 | 40,237 | ||||||
Canadian National Railway Co. | 761 | 67,734 | ||||||
Canadian Natural Resources Ltd. | 334 | 11,414 | ||||||
Canadian Pacific Railway Ltd. | 892 | 187,772 | ||||||
Canadian Tire Corp. Ltd., Class A | 1,341 | 167,909 | ||||||
Canadian Utilities Ltd., Class A | 1,040 | 25,323 | ||||||
CGI Group, Inc., Class A* | 2,741 | 180,127 | ||||||
CI Financial Corp. | 9,284 | 149,518 | ||||||
Constellation Software, Inc. | 138 | 105,313 | ||||||
Dollarama, Inc. | 3,552 | 134,431 | ||||||
Fairfax Financial Holdings Ltd. | 36 | 19,780 | ||||||
Fortis, Inc. | 4,380 | 143,498 | ||||||
Franco-Nevada Corp. | 108 | 6,909 | ||||||
George Weston Ltd. | 572 | 44,586 | ||||||
Great-West Lifeco, Inc. | 349 | 8,522 | ||||||
Husky Energy, Inc. | 2,155 | 35,665 | ||||||
Hydro One Ltd., 144A | 1,912 | 28,271 | ||||||
IGM Financial, Inc. | 1,121 | 31,302 | ||||||
Imperial Oil Ltd. | 490 | 15,283 | ||||||
Intact Financial Corp. | 1,310 | 103,980 | ||||||
Inter Pipeline Ltd. | 1,614 | 29,682 | ||||||
Loblaw Cos. Ltd. | 896 | 46,382 | ||||||
Magna International, Inc. | 8,301 | 449,824 | ||||||
Manulife Financial Corp. | 2,225 | 40,748 | ||||||
Metro, Inc. | 4,117 | 129,008 | ||||||
National Bank of Canada | 1,454 | 72,825 | ||||||
Nutrien Ltd. | 532 | 29,922 | ||||||
Pembina Pipeline Corp. | 538 | 18,364 | ||||||
Power Corp. of Canada | 1,876 | 42,082 | ||||||
Power Financial Corp. | 605 | 14,119 | ||||||
Restaurant Brands International, Inc. | 654 | 37,541 | ||||||
RioCan Real Estate Investment Trust REIT | 5,440 | 105,383 | ||||||
Rogers Communications, Inc., Class B | 2,649 | 137,371 | ||||||
Royal Bank of Canada | 251 | 19,954 | ||||||
Saputo, Inc. | 1,514 | 46,397 | ||||||
Shaw Communications, Inc., Class B | 4,299 | 86,775 | ||||||
Sun Life Financial, Inc. (b) | 1,200 | 47,735 | ||||||
Suncor Energy, Inc. | 974 | 40,127 | ||||||
TELUS Corp. | 1,532 | 56,853 | ||||||
Thomson Reuters Corp. | 369 | 16,425 | ||||||
Toronto-Dominion Bank | 269 | 16,225 | ||||||
TransCanada Corp. | 854 | 36,401 | ||||||
|
| |||||||
3,169,631 | ||||||||
|
| |||||||
China (d) — 0.2% | ||||||||
AAC Technologies Holdings, Inc. | 519 | 5,753 | ||||||
Minth Group Ltd. | 5,536 | 22,676 | ||||||
Shui On Land Ltd. | 21,876 | 5,212 | ||||||
Tingyi Cayman Islands Holding Corp. | 10,442 | 18,652 | ||||||
Uni-President China Holdings Ltd. | 12,456 | 12,267 | ||||||
Want Want China Holdings Ltd. | 58,127 | 47,471 | ||||||
|
| |||||||
112,031 | ||||||||
|
|
Number | Value | |||||||
Denmark — 2.0% | ||||||||
Carlsberg A/S, Class B | 920 | $ | 112,566 | |||||
Chr Hansen Holding A/S | 657 | 66,853 | ||||||
Coloplast A/S, Class B | 599 | 64,260 | ||||||
Danske Bank A/S | 171 | 5,043 | ||||||
DSV A/S | 3,848 | 361,403 | ||||||
H Lundbeck A/S | 230 | 13,525 | ||||||
ISS A/S | 1,159 | 40,553 | ||||||
Jyske Bank A/S | 146 | 7,424 | ||||||
Novo Nordisk A/S, Class B | 811 | 39,837 | ||||||
Novozymes A/S, Class B | 1,810 | 99,432 | ||||||
Orsted A/S, 144A | 2,041 | 129,322 | ||||||
Pandora A/S | 189 | 11,318 | ||||||
Rockwool International A/S, Class B | 269 | 116,792 | ||||||
Tryg A/S | 1,850 | 45,560 | ||||||
Vestas Wind Systems A/S | 83 | 5,797 | ||||||
William Demant Holding A/S* | 1,329 | 54,175 | ||||||
|
| |||||||
1,173,860 | ||||||||
|
| |||||||
Finland — 2.1% | ||||||||
Elisa OYJ | 3,672 | 157,437 | ||||||
Fortum OYJ | 3,687 | 93,518 | ||||||
Huhtamaki OYJ | 1,413 | 50,718 | ||||||
Kesko OYJ, Class B | 2,888 | 168,681 | ||||||
Kone OYJ, Class B | 1,771 | 95,837 | ||||||
Metso OYJ | 210 | 7,391 | ||||||
Neste OYJ | 1,592 | 138,551 | ||||||
Nokian Renkaat OYJ | 920 | 38,053 | ||||||
Sampo OYJ, Class A | 1,570 | 80,503 | ||||||
Stora Enso OYJ, Class R | 5,484 | 102,314 | ||||||
UPM-Kymmene OYJ | 6,538 | 252,551 | ||||||
Wartsila OYJ Abp | 3,534 | 74,794 | ||||||
|
| |||||||
1,260,348 | ||||||||
|
| |||||||
France — 7.7% | ||||||||
Accor SA | 534 | 26,778 | ||||||
Aeroports de Paris | 125 | 27,531 | ||||||
Air France-KLM* | 735 | 7,076 | ||||||
Air Liquide SA | 498 | 62,867 | ||||||
Airbus SE | 82 | 10,138 | ||||||
ALD SA, 144A | 642 | 11,989 | ||||||
Alstom SA | 850 | 37,581 | ||||||
Amundi SA, 144A | 128 | 9,248 | ||||||
Arkema SA | 1,001 | 125,667 | ||||||
Atos SE | 1,307 | 156,936 | ||||||
AXA SA | 196 | 4,959 | ||||||
BioMerieux | 849 | 74,777 | ||||||
Bollore SA | 11,961 | 57,392 | ||||||
Bouygues SA | 1,794 | 79,381 | ||||||
Bureau Veritas SA | 1,974 | 50,850 | ||||||
Capgemini SE | 1,082 | 139,424 | ||||||
Carrefour SA | 1,219 | 21,799 | ||||||
Casino Guichard Perrachon SA (b) | 87 | 2,764 | ||||||
Cie de Saint-Gobain | 1,100 | 47,438 | ||||||
Cie Generale des Etablissements Michelin | 1,989 | 235,933 | ||||||
Cie Plastic Omnium SA | 833 | 33,069 | ||||||
CNP Assurances | 210 | 4,855 | ||||||
Danone SA | 142 | 11,205 |
See Notes to Financial Statements. | 18 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
France (Continued) | ||||||||
Dassault Aviation SA | 26 | $ | 48,492 | |||||
Dassault Systemes SE | 272 | 44,179 | ||||||
Edenred | 2,237 | 85,448 | ||||||
Eiffage SA | 2,080 | 234,651 | ||||||
Electricite de France SA | 1,302 | 21,375 | ||||||
Elior Group SA, 144A | 686 | 10,767 | ||||||
Elis SA | 1,468 | 34,075 | ||||||
Engie SA | 5,407 | 79,456 | ||||||
Essilor International SA | 191 | 27,623 | ||||||
Eurazeo SA | 585 | 44,514 | ||||||
Eutelsat Communications SA | 691 | 16,401 | ||||||
Faurecia SA | 943 | 57,909 | ||||||
Fonciere Des Regions REIT | 1,187 | 124,366 | ||||||
Gecina SA REIT | 2,730 | 469,783 | ||||||
Getlink | 2,106 | 26,586 | ||||||
Hermes International | 9 | 5,866 | ||||||
ICADE REIT | 107 | 10,464 | ||||||
Iliad SA | 45 | 5,827 | ||||||
Imerys SA | 516 | 37,163 | ||||||
Ingenico Group SA | 72 | 5,072 | ||||||
Ipsen SA | 250 | 44,547 | ||||||
JCDecaux SA | 351 | 11,590 | ||||||
Kering | 85 | 46,284 | ||||||
Klepierre SA REIT | 1,536 | 55,222 | ||||||
Lagardere SCA | 2,793 | 82,541 | ||||||
Legrand SA | 964 | 72,793 | ||||||
L’Oreal SA | 31 | 7,455 | ||||||
LVMH Moet Hennessy Louis Vuitton SE | 27 | 9,482 | ||||||
Orange SA | 2,060 | 33,436 | ||||||
Orpea | 282 | 38,224 | ||||||
Pernod Ricard SA | 199 | 31,489 | ||||||
Publicis Groupe SA | 1,012 | 65,114 | ||||||
Remy Cointreau SA | 125 | 17,554 | ||||||
Renault SA | 129 | 11,137 | ||||||
Rexel SA | 2,200 | 34,684 | ||||||
Rubis SCA | 1,764 | 104,673 | ||||||
Safran SA | 1,777 | 232,185 | ||||||
Sanofi | 124 | 10,632 | ||||||
Sartorius Stedim Biotech | 166 | 21,091 | ||||||
Schneider Electric SE | 676 | 55,246 | ||||||
SCOR SE | 608 | 24,696 | ||||||
SEB SA | 71 | 13,267 | ||||||
Societe BIC SA | 116 | 10,764 | ||||||
Sodexo SA | 322 | 33,613 | ||||||
Suez | 1,684 | 24,404 | ||||||
Teleperformance | 1,045 | 201,224 | ||||||
Thales SA | 450 | 63,536 | ||||||
TOTAL SA | 373 | 23,379 | ||||||
Ubisoft Entertainment SA* | 210 | 22,640 | ||||||
Unibail-Rodamco-Westfield (a) | 281 | 59,177 | ||||||
Unibail-Rodamco-Westfield CDI* | 7,673 | 80,573 | ||||||
Valeo SA | 885 | 40,271 | ||||||
Veolia Environnement SA | 10,140 | 214,250 | ||||||
Vinci SA | 695 | 66,761 | ||||||
Vivendi SA | 2,488 | 64,699 | ||||||
Worldline SA, 144A* | 237 | 14,449 | ||||||
|
| |||||||
4,572,756 | ||||||||
|
|
Number | Value | |||||||
Germany — 5.7% | ||||||||
1&1 Drillisch AG | 106 | $ | 5,377 | |||||
adidas AG | 107 | 26,754 | ||||||
Allianz SE | 39 | 8,333 | ||||||
Axel Springer SE | 474 | 34,524 | ||||||
BASF SE | 357 | 33,101 | ||||||
Bayer AG | 175 | 16,366 | ||||||
Bayerische Motoren Werke AG | 83 | 8,055 | ||||||
Beiersdorf AG | 281 | 32,792 | ||||||
Brenntag AG | 818 | 49,433 | ||||||
Carl Zeiss Meditec AG | 120 | 10,653 | ||||||
CECONOMY AG | 9,837 | 74,944 | ||||||
Continental AG | 224 | 41,192 | ||||||
Covestro AG, 144A | 1,694 | 144,630 | ||||||
Daimler AG | 125 | 8,101 | ||||||
Deutsche Boerse AG | 82 | 11,353 | ||||||
Deutsche Lufthansa AG | 2,762 | 72,273 | ||||||
Deutsche Post AG | 1,490 | 54,453 | ||||||
Deutsche Telekom AG* | 939 | 15,197 | ||||||
Deutsche Wohnen SE | 5,012 | 253,902 | ||||||
E.ON SE | 4,636 | 49,517 | ||||||
Evonik Industries AG | 1,214 | 45,355 | ||||||
Fielmann AG | 235 | 15,899 | ||||||
Fraport AG Frankfurt Airport Services Worldwide | 473 | 42,618 | ||||||
Fresenius Medical Care AG & Co. KGaA | 816 | 82,846 | ||||||
Fresenius SE & Co. KGaA | 160 | 12,246 | ||||||
FUCHS PETROLUB SE | 531 | 28,574 | ||||||
GEA Group AG | 1,175 | 44,746 | ||||||
Hannover Rueck SE | 188 | 25,877 | ||||||
HeidelbergCement AG | 198 | 15,799 | ||||||
Hella GmbH & Co KGaA | 656 | 39,689 | ||||||
Henkel AG & Co. KGaA | 134 | 14,991 | ||||||
HOCHTIEF AG | 193 | 31,393 | ||||||
HUGO BOSS AG | 853 | 68,301 | ||||||
Infineon Technologies AG | 2,031 | 51,798 | ||||||
Innogy SE* | 940 | 40,849 | ||||||
KION Group AG | 85 | 5,817 | ||||||
LEG Immobilien AG | 2,002 | 244,929 | ||||||
Linde AG | 286 | 65,288 | ||||||
MAN SE | 61 | 6,647 | ||||||
Merck KGaA | 112 | 11,791 | ||||||
METRO AG | 2,263 | 35,427 | ||||||
MTU Aero Engines AG | 566 | 124,398 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 71 | 15,349 | ||||||
OSRAM Licht AG | 802 | 36,093 | ||||||
ProSiebenSat.1 Media SE | 637 | 16,817 | ||||||
Puma SE | 39 | 21,418 | ||||||
Rational AG | 24 | 19,184 | ||||||
Rheinmetall AG | 1,162 | 126,979 | ||||||
RWE AG | 839 | 21,329 | ||||||
SAP SE | 84 | 10,127 | ||||||
Siemens AG | 41 | 5,342 | ||||||
STADA Arzneimittel AG | 159 | 15,014 | ||||||
Symrise AG | 363 | 33,982 | ||||||
Talanx AG | 240 | 9,081 | ||||||
Telefonica Deutschland Holding AG | 889 | 3,706 |
See Notes to Financial Statements. | 19 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
Germany (Continued) | ||||||||
thyssenkrupp AG | 328 | $ | 7,598 | |||||
TUI AG | 16,568 | 306,217 | ||||||
Uniper SE | 8,958 | 274,324 | ||||||
United Internet AG | 354 | 18,666 | ||||||
Vonovia SE | 5,485 | 282,011 | ||||||
Wacker Chemie AG | 433 | 62,597 | ||||||
Wirecard AG | 310 | 68,999 | ||||||
Zalando SE, 144A* | 109 | 5,748 | ||||||
|
| |||||||
3,366,809 | ||||||||
|
| |||||||
Hong Kong — 4.4% | ||||||||
AIA Group Ltd. | 5,236 | 45,163 | ||||||
ASM Pacific Technology Ltd. | 1,392 | 14,685 | ||||||
Bank of East Asia Ltd. | 2,796 | 10,348 | ||||||
BOC Hong Kong Holdings Ltd. | 1,379 | 6,729 | ||||||
Cafe de Coral Holdings Ltd. | 3,581 | 8,723 | ||||||
Cathay Pacific Airways Ltd. | 3,324 | 4,955 | ||||||
Champion REIT | 132,026 | 97,057 | ||||||
China Mengniu Dairy Co. Ltd.* | 10,644 | 30,716 | ||||||
Chow Tai Fook Jewellery Group Ltd. | 6,156 | 5,718 | ||||||
CK Asset Holdings Ltd. | 12,330 | 87,893 | ||||||
CK Hutchison Holdings Ltd. | 4,768 | 54,946 | ||||||
CK Infrastructure Holdings Ltd. | 2,804 | 20,506 | ||||||
CLP Holdings Ltd. | 7,149 | 84,024 | ||||||
Dah Sing Banking Group Ltd. | 2,650 | 5,463 | ||||||
Dah Sing Financial Holdings Ltd. | 731 | 4,545 | ||||||
Dairy Farm International Holdings Ltd. | 1,265 | 11,727 | ||||||
First Pacific Co. Ltd. | 27,840 | 12,698 | ||||||
Galaxy Entertainment Group Ltd. | 899 | 6,655 | ||||||
Great Eagle Holdings Ltd. | 6,381 | 31,422 | ||||||
Hang Lung Group Ltd. | 4,551 | 12,756 | ||||||
Hang Lung Properties Ltd. | 10,614 | 20,961 | ||||||
Hang Seng Bank Ltd. | 449 | 12,173 | ||||||
Henderson Land Development Co. Ltd. | 11,595 | 61,307 | ||||||
Hong Kong & China Gas Co. Ltd. | 17,711 | 36,465 | ||||||
Hong Kong Exchanges & Clearing Ltd. | 453 | 12,894 | ||||||
Hongkong Land Holdings Ltd. | 18,900 | 130,788 | ||||||
Hopewell Highway Infrastructure Ltd. (c) | 50,039 | 25,066 | ||||||
Hopewell Holdings Ltd. | 11,031 | 38,790 | ||||||
Hysan Development Co. Ltd. | 5,953 | 30,528 | ||||||
Jardine Matheson Holdings Ltd. | 200 | 12,624 | ||||||
Jardine Strategic Holdings Ltd. | 100 | 3,630 | ||||||
Johnson Electric Holdings Ltd. | 13,195 | 38,666 | ||||||
Kerry Logistics Network Ltd. | 14,215 | 21,153 | ||||||
Kerry Properties Ltd. | 23,795 | 90,191 | ||||||
Li & Fung Ltd. (b) | 42,413 | 12,050 | ||||||
Lifestyle International Holdings Ltd. | 13,331 | 25,986 | ||||||
Link REIT | 58,932 | 587,150 | ||||||
Melco International Development Ltd. | 3,742 | 9,964 | ||||||
MTR Corp. Ltd. | 2,177 | 11,219 | ||||||
New World Development Co. Ltd. | 15,945 | 21,290 | ||||||
NWS Holdings Ltd. | 43,793 | 78,002 | ||||||
PCCW Ltd. | 28,403 | 15,090 | ||||||
Power Assets Holdings Ltd. | 2,880 | 20,200 | ||||||
Sa Sa International Holdings Ltd. | 13,255 | 7,008 | ||||||
Shangri-La Asia Ltd. | 4,713 | 7,266 | ||||||
Sino Land Co. Ltd. | 31,227 | 52,914 |
Number | Value | |||||||
Hong Kong (Continued) | ||||||||
SJM Holdings Ltd. (b) | 13,621 | $ | 15,410 | |||||
Sun Art Retail Group Ltd. | 13,215 | 15,237 | ||||||
Sun Hung Kai Properties Ltd. | 4,470 | 66,348 | ||||||
Swire Pacific Ltd., Class A | 2,714 | 30,688 | ||||||
Swire Pacific Ltd., Class B | 6,630 | 12,079 | ||||||
Swire Properties Ltd. | 9,818 | 38,590 | ||||||
Techtronic Industries Co. Ltd. | 18,011 | 110,146 | ||||||
Towngas China Co. Ltd.* | 26,299 | 24,225 | ||||||
VTech Holdings Ltd. | 5,464 | 60,461 | ||||||
WH Group Ltd., 144A | 56,902 | 42,918 | ||||||
Wharf Holdings Ltd. | 23,297 | 66,487 | ||||||
Wharf Real Estate Investment Co. Ltd. | 3,419 | 22,673 | ||||||
Wheelock & Co. Ltd. | 4,272 | 26,806 | ||||||
Xinyi Glass Holdings Ltd. | 38,017 | 47,467 | ||||||
Yue Yuen Industrial Holdings Ltd. | 22,104 | 61,252 | ||||||
|
| |||||||
2,580,891 | ||||||||
|
| |||||||
Ireland — 0.8% | ||||||||
CRH PLC | 1,614 | 53,557 | ||||||
DCC PLC | 658 | 59,482 | ||||||
James Hardie Industries PLC CDI | 5,129 | 78,526 | ||||||
Kerry Group PLC, Class A | 567 | 64,816 | ||||||
Kingspan Group PLC | 1,634 | 79,582 | ||||||
Paddy Power Betfair PLC | 63 | 5,744 | ||||||
Smurfit Kappa Group PLC | 3,939 | 160,247 | ||||||
|
| |||||||
501,954 | ||||||||
|
| |||||||
Israel — 1.4% | ||||||||
Airport City Ltd.* | 1,297 | 15,736 | ||||||
Alony Hetz Properties & Investments Ltd. | 2,364 | 24,826 | ||||||
Amot Investments Ltd. | 4,070 | 21,473 | ||||||
Azrieli Group Ltd. | 288 | 14,986 | ||||||
Bank Hapoalim BM | 3,349 | 25,140 | ||||||
Bank Leumi Le-Israel BM | 17,923 | 120,652 | ||||||
Bezeq The Israeli Telecommunication Corp. Ltd. | 35,299 | 42,268 | ||||||
Elbit Systems Ltd. | 520 | 67,207 | ||||||
First International Bank of Israel Ltd. | 808 | 18,751 | ||||||
Frutarom Industries Ltd. | 407 | 41,611 | ||||||
Gazit-Globe Ltd. | 1,076 | 9,895 | ||||||
Harel Insurance Investments & Financial Services Ltd. | 2,509 | 20,521 | ||||||
Israel Chemicals Ltd. | 2,902 | 16,988 | ||||||
Israel Corp. Ltd. | 26 | 7,837 | ||||||
Israel Discount Bank Ltd., Class A | 17,017 | 59,569 | ||||||
Mizrahi Tefahot Bank Ltd. | 967 | 17,487 | ||||||
Nice Ltd.* | 1,469 | 169,453 | ||||||
Oil Refineries Ltd. | 37,192 | 19,519 | ||||||
Paz Oil Co. Ltd. | 165 | 25,598 | ||||||
Phoenix Holdings Ltd. | 1,213 | 6,892 | ||||||
Shikun & Binui Ltd.* | 6,713 | 14,131 | ||||||
Shufersal Ltd. | 4,803 | 31,638 | ||||||
Strauss Group Ltd. | 1,414 | 31,227 | ||||||
Tower Semiconductor Ltd.* | 323 | 7,058 | ||||||
|
| |||||||
830,463 | ||||||||
|
| |||||||
Italy — 0.9% | ||||||||
A2A SpA | 20,789 | 35,822 |
See Notes to Financial Statements. | 20 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
Italy (Continued) | ||||||||
Assicurazioni Generali SpA | 799 | $ | 13,336 | |||||
Atlantia SpA | 1,007 | 21,031 | ||||||
Davide Campari-Milano SpA | 6,047 | 53,647 | ||||||
Enel SpA | 11,404 | 56,524 | ||||||
Eni SpA | 2,644 | 49,159 | ||||||
Ferrari NV | 119 | 15,604 | ||||||
FinecoBank Banca Fineco SpA | 737 | 8,802 | ||||||
Intesa Sanpaolo SpA | 689 | 1,705 | ||||||
Luxottica Group SpA | 124 | 8,241 | ||||||
Mediobanca SpA | 27 | 252 | ||||||
Moncler SpA | 1,020 | 46,237 | ||||||
Poste Italiane SpA, 144A | 659 | 5,085 | ||||||
PRADA SpA | 1,360 | 6,134 | ||||||
Prysmian SpA | 4,313 | 111,504 | ||||||
Recordati SpA | 595 | 20,886 | ||||||
Snam SpA | 12,975 | 53,381 | ||||||
Telecom Italia SpA* | 10,630 | 6,790 | ||||||
Telecom Italia SpA-RSP | 9,433 | 5,256 | ||||||
Terna Rete Elettrica Nazionale SpA | 2,980 | 15,693 | ||||||
|
| |||||||
535,089 | ||||||||
|
| |||||||
Japan — 23.1% | ||||||||
ABC-Mart, Inc. | 200 | 10,930 | ||||||
Aeon Co. Ltd. | 6,800 | 147,578 | ||||||
Aeon Mall Co. Ltd. | 600 | 10,059 | ||||||
AGC, Inc. | 900 | 36,118 | ||||||
Aica Kogyo Co. Ltd. | 2,400 | 92,528 | ||||||
Air Water, Inc. | 2,600 | 46,708 | ||||||
Aisin Seiki Co. Ltd. | 1,800 | 83,438 | ||||||
Ajinomoto Co., Inc. | 400 | 6,803 | ||||||
Alfresa Holdings Corp. | 6,800 | 170,912 | ||||||
Amada Holdings Co. Ltd. | 2,100 | 22,499 | ||||||
ANA Holdings, Inc. | 2,300 | 79,837 | ||||||
Aoyama Trading Co. Ltd. | 400 | 12,175 | ||||||
Aozora Bank Ltd. | 400 | 14,159 | ||||||
Ariake Japan Co. Ltd. | 100 | 9,018 | ||||||
Asahi Group Holdings Ltd. | 200 | 9,053 | ||||||
Asahi Intecc Co. Ltd. | 200 | 7,639 | ||||||
Asahi Kasei Corp. | 8,109 | 119,202 | ||||||
Asics Corp. | 300 | 4,497 | ||||||
Astellas Pharma, Inc. | 4,400 | 74,679 | ||||||
Autobacs Seven Co. Ltd. | 2,500 | 42,567 | ||||||
Azbil Corp. | 2,300 | 100,496 | ||||||
Bandai Namco Holdings, Inc. | 1,900 | 73,851 | ||||||
Benesse Holdings, Inc. | 400 | 12,535 | ||||||
Bic Camera, Inc. | 3,200 | 42,999 | ||||||
Bridgestone Corp. | 3,100 | 114,428 | ||||||
Brother Industries Ltd. | 500 | 10,290 | ||||||
Calbee, Inc. | 200 | 6,376 | ||||||
Canon Marketing Japan, Inc. | 2,000 | 42,404 | ||||||
Canon, Inc. | 4,100 | 131,743 | ||||||
Capcom Co. Ltd. | 154 | 3,598 | ||||||
Central Japan Railway Co. | 510 | 102,635 | ||||||
Chubu Electric Power Co., Inc. | 6,300 | 91,786 | ||||||
Chugai Pharmaceutical Co. Ltd. | 300 | 17,423 | ||||||
Chugoku Electric Power Co., Inc. | 6,200 | 77,608 | ||||||
Ci:z Holdings Co. Ltd. | 200 | 8,622 |
Number | Value | |||||||
Japan (Continued) | ||||||||
Citizen Watch Co. Ltd. | 2,400 | $ | 16,493 | |||||
Coca-Cola Bottlers Japan Holdings, Inc. | 175 | 4,971 | ||||||
COMSYS Holdings Corp. | 3,400 | 92,447 | ||||||
Concordia Financial Group Ltd. | 2,500 | 12,017 | ||||||
Cosmo Energy Holdings Co. Ltd. | 990 | 36,561 | ||||||
Cosmos Pharmaceutical Corp. | 29 | 6,086 | ||||||
Dai Nippon Printing Co. Ltd. | 2,900 | 65,200 | ||||||
Daicel Corp. | 3,800 | 43,077 | ||||||
Daido Steel Co. Ltd. | 100 | 4,572 | ||||||
Daifuku Co. Ltd. | 139 | 7,233 | ||||||
Dai-ichi Life Holdings, Inc. | 100 | 1,909 | ||||||
Daiichi Sankyo Co. Ltd. | 1,329 | 51,993 | ||||||
Daiichikosho Co. Ltd. | 855 | 39,633 | ||||||
Daikin Industries Ltd. | 200 | 25,558 | ||||||
Daikyo, Inc. | 100 | 2,050 | ||||||
Daito Trust Construction Co. Ltd. | 1,943 | 291,752 | ||||||
Daiwa House Industry Co. Ltd. | 2,800 | 85,577 | ||||||
Denka Co. Ltd. | 2,100 | 72,061 | ||||||
Denso Corp. | 788 | 38,055 | ||||||
Dentsu, Inc. | 134 | 6,272 | ||||||
DIC Corp. | 300 | 10,673 | ||||||
Disco Corp. | 111 | 19,901 | ||||||
Don Quijote Holdings Co. Ltd. | 600 | 29,219 | ||||||
Dowa Holdings Co. Ltd. | 100 | 2,999 | ||||||
East Japan Railway Co. | 500 | 45,340 | ||||||
Ebara Corp. | 400 | 13,708 | ||||||
Electric Power Development Co. Ltd. | 3,300 | 87,526 | ||||||
Exedy Corp. | 500 | 15,760 | ||||||
Ezaki Glico Co. Ltd. | 100 | 5,041 | ||||||
FamilyMart UNY Holdings Co. Ltd. | 111 | 9,700 | ||||||
Fast Retailing Co. Ltd. | 11 | 5,140 | ||||||
FP Corp. | 300 | 16,936 | ||||||
Fuji Electric Co. Ltd. | 3,770 | 30,429 | ||||||
Fuji Media Holdings, Inc. | 600 | 10,335 | ||||||
Fuji Oil Holdings, Inc. | 300 | 9,145 | ||||||
FUJIFILM Holdings Corp. | 1,100 | 46,615 | ||||||
Fujikura Ltd. | 500 | 3,093 | ||||||
Fujitsu Ltd. | 1,777 | 13,030 | ||||||
Fukuyama Transporting Co. Ltd. | 400 | 18,830 | ||||||
Furukawa Electric Co. Ltd. | 100 | 3,450 | ||||||
Glory Ltd. | 500 | 13,365 | ||||||
GS Yuasa Corp. | 2,000 | 9,884 | ||||||
H2O Retailing Corp. | 2,100 | 33,067 | ||||||
Hakuhodo DY Holdings, Inc. | 6,600 | 111,602 | ||||||
Hamamatsu Photonics KK | 1,100 | 44,343 | ||||||
Hankyu Hanshin Holdings, Inc. | 2,400 | 85,819 | ||||||
Haseko Corp. | 1,800 | 23,376 | ||||||
Hikari Tsushin, Inc. | 100 | 18,948 | ||||||
Hino Motors Ltd. | 300 | 3,165 | ||||||
Hirose Electric Co. Ltd. | 105 | 12,518 | ||||||
HIS Co. Ltd. | 600 | 19,750 | ||||||
Hisamitsu Pharmaceutical Co., Inc. | 300 | 21,969 | ||||||
Hitachi Chemical Co. Ltd. | 200 | 4,206 | ||||||
Hitachi Construction Machinery Co. Ltd. | 200 | 5,988 | ||||||
Hitachi High-Technologies Corp. | 400 | 15,746 | ||||||
Hitachi Ltd. | 23,000 | 150,485 | ||||||
Hitachi Metals Ltd. | 500 | 5,790 |
See Notes to Financial Statements. | 21 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
Japan (Continued) | ||||||||
Hitachi Transport System Ltd. | 100 | $ | 2,760 | |||||
Hokuriku Electric Power Co.* | 600 | 5,909 | ||||||
Honda Motor Co. Ltd. | 500 | 14,844 | ||||||
Horiba Ltd. | 500 | 31,023 | ||||||
Hoshizaki Corp. | 200 | 19,011 | ||||||
House Foods Group, Inc. | 2,900 | 86,175 | ||||||
Hoya Corp. | 600 | 35,155 | ||||||
Idemitsu Kosan Co. Ltd. | 300 | 15,178 | ||||||
Iida Group Holdings Co. Ltd. | 700 | 12,954 | ||||||
Inpex Corp. | 3,200 | 35,063 | ||||||
Isetan Mitsukoshi Holdings Ltd. | 900 | 10,194 | ||||||
Isuzu Motors Ltd. | 2,500 | 36,231 | ||||||
Ito En Ltd. | 400 | 17,604 | ||||||
ITOCHU Corp. | 4,200 | 73,614 | ||||||
Itochu Techno-Solutions Corp. | 2,000 | 44,370 | ||||||
Itoham Yonekyu Holdings, Inc. | 900 | 6,696 | ||||||
Izumi Co. Ltd. | 580 | 34,784 | ||||||
J. Front Retailing Co. Ltd. | 2,100 | 29,923 | ||||||
Japan Airlines Co. Ltd. | 2,900 | 104,744 | ||||||
Japan Tobacco, Inc. | 200 | 5,270 | ||||||
JFE Holdings, Inc. | 700 | 15,350 | ||||||
JSR Corp. | 4,100 | 79,756 | ||||||
JXTG Holdings, Inc. | 10,150 | 71,618 | ||||||
Kagome Co. Ltd. | 1,200 | 34,089 | ||||||
Kajima Corp. | 24,000 | 173,152 | ||||||
Kakaku.com, Inc. | 186 | 3,445 | ||||||
Kaken Pharmaceutical Co. Ltd. | 100 | 5,149 | ||||||
Kamigumi Co. Ltd. | 3,800 | 77,313 | ||||||
Kandenko Co. Ltd. | 900 | 9,034 | ||||||
Kaneka Corp. | 8,112 | 74,254 | ||||||
Kansai Electric Power Co., Inc. | 3,400 | 48,830 | ||||||
Kansai Paint Co. Ltd. | 288 | 5,706 | ||||||
Kao Corp. | 1,100 | 85,562 | ||||||
Kawasaki Heavy Industries Ltd. | 500 | 13,708 | ||||||
KDDI Corp. | 700 | 18,566 | ||||||
Keihan Holdings Co. Ltd. | 600 | 22,077 | ||||||
Keikyu Corp. | 600 | 10,400 | ||||||
Keio Corp. | 500 | 24,846 | ||||||
Keisei Electric Railway Co. Ltd. | 2,000 | 67,277 | ||||||
Kewpie Corp. | 200 | 4,830 | ||||||
Kikkoman Corp. | 800 | 40,186 | ||||||
Kinden Corp. | 4,200 | 66,399 | ||||||
Kintetsu Group Holdings Co. Ltd. | 1,300 | 51,116 | ||||||
Kirin Holdings Co. Ltd. | 6,100 | 151,145 | ||||||
Kissei Pharmaceutical Co. Ltd. | 100 | 2,963 | ||||||
Kobayashi Pharmaceutical Co. Ltd. | 600 | 43,180 | ||||||
Koito Manufacturing Co. Ltd. | 800 | 49,565 | ||||||
Kokuyo Co. Ltd. | 3,700 | 64,367 | ||||||
Komatsu Ltd. | 1,191 | 33,952 | ||||||
Komeri Co. Ltd. | 600 | 14,761 | ||||||
Konami Holdings Corp. | 300 | 12,594 | ||||||
Konica Minolta, Inc. | 100 | 1,020 | ||||||
Kose Corp. | 69 | 12,756 | ||||||
K’s Holdings Corp. | 7,200 | 87,334 | ||||||
Kubota Corp. | 2,000 | 31,321 | ||||||
Kuraray Co. Ltd. | 12,800 | 186,081 | ||||||
Kurita Water Industries Ltd. | 3,100 | 92,258 |
Number | Value | |||||||
Japan (Continued) | ||||||||
Kyocera Corp. | 500 | $ | 31,609 | |||||
KYORIN Holdings, Inc. | 100 | 2,081 | ||||||
Kyowa Exeo Corp. | 4,700 | 131,821 | ||||||
Kyowa Hakko Kirin Co. Ltd. | 1,000 | 17,766 | ||||||
Kyudenko Corp. | 100 | 3,815 | ||||||
Kyushu Electric Power Co., Inc. | 4,200 | 47,195 | ||||||
Kyushu Railway Co. | 826 | 24,880 | ||||||
Lawson, Inc. | 500 | 29,400 | ||||||
Leopalace21 Corp. | 4,400 | 23,412 | ||||||
Lintec Corp. | 2,100 | 57,573 | ||||||
Lion Corp. | 1,906 | 40,239 | ||||||
LIXIL Group Corp. | 600 | 11,791 | ||||||
M3, Inc. | 200 | 8,829 | ||||||
Mabuchi Motor Co. Ltd. | 100 | 4,153 | ||||||
Maeda Corp. | 2,600 | 31,115 | ||||||
Maeda Road Construction Co. Ltd. | 3,000 | 58,304 | ||||||
Makita Corp. | 1,600 | 72,724 | ||||||
Marubeni Corp. | 13,000 | 106,875 | ||||||
Maruichi Steel Tube Ltd. | 1,250 | 38,384 | ||||||
Matsumotokiyoshi Holdings Co. Ltd. | 1,800 | 68,179 | ||||||
Mazda Motor Corp. | 100 | 1,162 | ||||||
Mebuki Financial Group, Inc. | 3,300 | 11,726 | ||||||
Medipal Holdings Corp. | 5,300 | 107,114 | ||||||
Megmilk Snow Brand Co. Ltd. | 200 | 5,057 | ||||||
MEIJI Holdings Co. Ltd. | 300 | 19,967 | ||||||
MINEBEA MITSUMI, Inc. | 351 | 6,603 | ||||||
Miraca Holdings, Inc. | 108 | 2,990 | ||||||
MISUMI Group, Inc. | 900 | 23,246 | ||||||
Mitsubishi Chemical Holdings Corp. | 7,000 | 62,876 | ||||||
Mitsubishi Corp. | 2,400 | 68,633 | ||||||
Mitsubishi Electric Corp. | 2,800 | 37,877 | ||||||
Mitsubishi Gas Chemical Co., Inc. | 3,200 | 66,721 | ||||||
Mitsubishi Heavy Industries Ltd. | 121 | 4,502 | ||||||
Mitsubishi Materials Corp. | 200 | 5,420 | ||||||
Mitsubishi Shokuhin Co. Ltd. | 100 | 2,764 | ||||||
Mitsubishi Tanabe Pharma Corp. | 500 | 8,355 | ||||||
Mitsui & Co. Ltd. | 3,200 | 53,461 | ||||||
Mitsui Chemicals, Inc. | 500 | 12,959 | ||||||
Mitsui Fudosan Co. Ltd. | 300 | 6,884 | ||||||
Mitsui Mining & Smelting Co. Ltd. | 109 | 3,131 | ||||||
Miura Co. Ltd. | 953 | 26,772 | ||||||
Mochida Pharmaceutical Co. Ltd. | 100 | 7,747 | ||||||
Morinaga & Co. Ltd. | 100 | 3,896 | ||||||
Morinaga Milk Industry Co. Ltd. | 200 | 5,438 | ||||||
MS&AD Insurance Group Holdings, Inc. | 100 | 3,080 | ||||||
Murata Manufacturing Co. Ltd. | 39 | 6,748 | ||||||
Nabtesco Corp. | 2,000 | 52,252 | ||||||
Nagase & Co. Ltd. | 2,700 | 45,120 | ||||||
Nagoya Railroad Co. Ltd. | 2,700 | 61,726 | ||||||
Nankai Electric Railway Co. Ltd. | 700 | 18,263 | ||||||
NGK Insulators Ltd. | 100 | 1,632 | ||||||
NGK Spark Plug Co. Ltd. | 200 | 5,700 | ||||||
NHK Spring Co. Ltd. | 700 | 7,418 | ||||||
Nichirei Corp. | 600 | 15,108 | ||||||
Nidec Corp. | 36 | 5,229 | ||||||
Nifco, Inc. | 1,900 | 52,261 | ||||||
Nihon Kohden Corp. | 400 | 11,724 |
See Notes to Financial Statements. | 22 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
Japan (Continued) | ||||||||
Nihon M&A Center, Inc. | 206 | $ | 5,404 | |||||
Nikon Corp. | 2,800 | 53,710 | ||||||
Nippo Corp. | 2,500 | 46,535 | ||||||
Nippon Electric Glass Co. Ltd. | 200 | 6,439 | ||||||
Nippon Express Co. Ltd. | 1,000 | 62,768 | ||||||
Nippon Kayaku Co. Ltd. | 2,600 | 30,599 | ||||||
Nippon Paper Industries Co. Ltd. | 900 | 16,420 | ||||||
Nippon Shinyaku Co. Ltd. | 100 | 5,889 | ||||||
Nippon Shokubai Co. Ltd. | 200 | 14,772 | ||||||
Nippon Steel & Sumitomo Metal Corp. | 900 | 18,144 | ||||||
Nippon Telegraph & Telephone Corp. | 200 | 8,928 | ||||||
Nippon Television Holdings, Inc. | 700 | 11,616 | ||||||
Nishi-Nippon Financial Holdings, Inc. | 2,100 | 24,450 | ||||||
Nishi-Nippon Railroad Co. Ltd. | 2,100 | 56,229 | ||||||
Nissan Chemical Corp. | 1,083 | 51,764 | ||||||
Nissan Motor Co. Ltd. | 2,400 | 22,510 | ||||||
Nissan Shatai Co. Ltd. | 300 | 2,662 | ||||||
Nisshin Seifun Group, Inc. | 4,800 | 96,229 | ||||||
Nisshinbo Holdings, Inc. | 500 | 5,623 | ||||||
Nissin Foods Holdings Co. Ltd. | 684 | 43,735 | ||||||
Nitori Holdings Co. Ltd. | 243 | 36,970 | ||||||
Nitto Denko Corp. | 200 | 15,562 | ||||||
Noevir Holdings Co. Ltd. | 300 | 17,613 | ||||||
NOF Corp. | 3,600 | 119,800 | ||||||
NOK Corp. | 200 | 3,827 | ||||||
Nomura Real Estate Holdings, Inc. | 600 | 13,035 | ||||||
Nomura Research Institute Ltd. | 510 | 25,434 | ||||||
NS Solutions Corp. | 100 | 3,242 | ||||||
NTT Data Corp. | 500 | 6,439 | ||||||
NTT DOCOMO, Inc. | 500 | 13,009 | ||||||
Obayashi Corp. | 14,700 | 138,005 | ||||||
Obic Co. Ltd. | 400 | 37,661 | ||||||
Odakyu Electric Railway Co. Ltd. | 800 | 17,337 | ||||||
Oji Holdings Corp. | 27,000 | 185,300 | ||||||
Olympus Corp. | 89 | 3,632 | ||||||
Omron Corp. | 600 | 26,920 | ||||||
Ono Pharmaceutical Co. Ltd. | 700 | 18,433 | ||||||
Oracle Corp. | 300 | 25,242 | ||||||
Oriental Land Co. Ltd. | 400 | 42,945 | ||||||
ORIX Corp. | 2,100 | 33,843 | ||||||
Osaka Gas Co. Ltd. | 4,900 | 91,716 | ||||||
OSG Corp. | 700 | 16,104 | ||||||
Otsuka Corp. | 1,100 | 39,929 | ||||||
Otsuka Holdings Co. Ltd. | 100 | 4,699 | ||||||
PALTAC CORPORATION | 2,200 | 119,836 | ||||||
Panasonic Corp. | 2,200 | 26,318 | ||||||
Park24 Co. Ltd. | 200 | 5,880 | ||||||
Penta-Ocean Construction Co. Ltd. | 8,600 | 50,568 | ||||||
Persol Holdings Co. Ltd. | 1,243 | 27,856 | ||||||
Pigeon Corp. | 400 | 19,371 | ||||||
Pola Orbis Holdings, Inc. | 435 | 15,378 | ||||||
Recruit Holdings Co. Ltd. | 1,085 | 33,141 | ||||||
Relo Group, Inc. | 600 | 16,477 | ||||||
Rengo Co. Ltd. | 4,100 | 35,274 | ||||||
Resorttrust, Inc. | 400 | 6,486 | ||||||
Ricoh Co. Ltd. | 600 | 6,304 | ||||||
Rinnai Corp. | 400 | 29,833 |
Number | Value | |||||||
Japan (Continued) | ||||||||
Rohm Co. Ltd. | 100 | $ | 9,045 | |||||
Rohto Pharmaceutical Co. Ltd. | 800 | 25,612 | ||||||
Ryohin Keikaku Co. Ltd. | 94 | 27,975 | ||||||
Sankyo Co. Ltd. | 100 | 3,837 | ||||||
Sankyu, Inc. | 1,900 | 101,096 | ||||||
Santen Pharmaceutical Co. Ltd. | 200 | 3,088 | ||||||
Sanwa Holdings Corp. | 3,800 | 43,660 | ||||||
Sapporo Holdings Ltd. | 400 | 8,387 | ||||||
Sawai Pharmaceutical Co. Ltd. | 87 | 4,653 | ||||||
SCREEN Holdings Co. Ltd. | 100 | 7,584 | ||||||
SCSK Corp. | 100 | 4,762 | ||||||
Secom Co. Ltd. | 900 | 74,226 | ||||||
Sega Sammy Holdings, Inc. | 2,500 | 40,402 | ||||||
Seibu Holdings, Inc. | 2,200 | 39,740 | ||||||
Seino Holdings Co. Ltd. | 4,300 | 65,963 | ||||||
Sekisui Chemical Co. Ltd. | 4,400 | 76,663 | ||||||
Sekisui House Ltd. | 3,500 | 57,242 | ||||||
Seven & i Holdings Co. Ltd. | 1,200 | 48,970 | ||||||
Seven Bank Ltd. | 3,600 | 11,233 | ||||||
Shikoku Electric Power Co., Inc. | 2,100 | 27,972 | ||||||
Shimachu Co. Ltd. | 1,118 | 36,600 | ||||||
Shimadzu Corp. | 2,600 | 77,260 | ||||||
Shimamura Co. Ltd. | 200 | 18,524 | ||||||
Shimano, Inc. | 66 | 10,202 | ||||||
Shimizu Corp. | 4,800 | 42,076 | ||||||
Shin-Etsu Chemical Co. Ltd. | 400 | 37,607 | ||||||
Shionogi & Co. Ltd. | 500 | 29,111 | ||||||
Shiseido Co. Ltd. | 600 | 42,336 | ||||||
Shochiku Co. Ltd. | 45 | 5,523 | ||||||
Showa Denko KK | 943 | 44,988 | ||||||
Showa Shell Sekiyu KK | 7,700 | 155,618 | ||||||
SKY Perfect JSAT Holdings, Inc. | 2,700 | 12,808 | ||||||
Skylark Holdings Co. Ltd. | 600 | 8,587 | ||||||
SMC Corp. | 84 | 28,006 | ||||||
Sohgo Security Services Co. Ltd. | 600 | 26,460 | ||||||
Sojitz Corp. | 4,000 | 13,960 | ||||||
Sompo Holdings, Inc. | 200 | 8,557 | ||||||
Sony Corp. | 300 | 17,175 | ||||||
Sony Financial Holdings, Inc. | 100 | 1,998 | ||||||
Sotetsu Holdings, Inc. | 900 | 28,124 | ||||||
Stanley Electric Co. Ltd. | 1,700 | 58,948 | ||||||
Subaru Corp. | 300 | 8,931 | ||||||
Sugi Holdings Co. Ltd. | 600 | 29,706 | ||||||
Sumitomo Chemical Co. Ltd. | 3,000 | 17,072 | ||||||
Sumitomo Corp. | 4,800 | 78,070 | ||||||
Sumitomo Electric Industries Ltd. | 2,300 | 36,465 | ||||||
Sumitomo Forestry Co. Ltd. | 2,200 | 35,633 | ||||||
Sumitomo Heavy Industries Ltd. | 309 | 10,074 | ||||||
Sumitomo Metal Mining Co. Ltd. | 93 | 3,011 | ||||||
Sumitomo Osaka Cement Co. Ltd. | 4,000 | 17,171 | ||||||
Sumitomo Realty & Development Co. Ltd. | 271 | 9,409 | ||||||
Sumitomo Rubber Industries Ltd. | 2,600 | 38,642 | ||||||
Sundrug Co. Ltd. | 1,100 | 39,582 | ||||||
Suntory Beverage & Food Ltd. | 200 | 8,216 | ||||||
Suzuken Co. Ltd. | 3,200 | 145,737 | ||||||
Suzuki Motor Corp. | 800 | 52,162 | ||||||
Sysmex Corp. | 200 | 17,387 |
See Notes to Financial Statements. | 23 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
Japan (Continued) | ||||||||
T&D Holdings, Inc. | 300 | $ | 4,571 | |||||
Taiheiyo Cement Corp. | 700 | 21,211 | ||||||
Taisei Corp. | 5,234 | 234,594 | ||||||
Taisho Pharmaceutical Holdings Co. Ltd. | 200 | 21,716 | ||||||
Taiyo Nippon Sanso Corp. | 300 | 4,426 | ||||||
Takashimaya Co. Ltd. | 2,500 | 40,447 | ||||||
TDK Corp. | 800 | 90,111 | ||||||
Teijin Ltd. | 2,300 | 45,654 | ||||||
Terumo Corp. | 158 | 8,735 | ||||||
THK Co. Ltd. | 357 | 9,581 | ||||||
TIS, Inc. | 300 | 14,501 | ||||||
Tobu Railway Co. Ltd. | 3,100 | 86,666 | ||||||
Toda Corp. | 1,000 | 6,962 | ||||||
Toho Co. Ltd. | 1,800 | 55,355 | ||||||
Toho Gas Co. Ltd. | 200 | 6,719 | ||||||
Tohoku Electric Power Co., Inc. | 3,500 | 44,001 | ||||||
Tokai Carbon Co. Ltd. | 500 | 8,955 | ||||||
Tokai Rika Co. Ltd. | 300 | 6,334 | ||||||
Tokio Marine Holdings, Inc. | 200 | 9,446 | ||||||
Tokyo Broadcasting System Holdings, Inc. | 300 | 6,339 | ||||||
Tokyo Century Corp. | 100 | 5,537 | ||||||
Tokyo Electron Ltd. | 86 | 14,639 | ||||||
Tokyo Gas Co. Ltd. | 4,400 | 104,479 | ||||||
Tokyu Corp. | 3,900 | 64,434 | ||||||
Tokyu Fudosan Holdings Corp. | 2,400 | 16,385 | ||||||
Toppan Forms Co. Ltd. | 900 | 8,871 | ||||||
Toppan Printing Co. Ltd. | 1,000 | 7,819 | ||||||
Toray Industries, Inc. | 8,700 | 65,412 | ||||||
Tosoh Corp. | 2,300 | 36,216 | ||||||
TOTO Ltd. | 780 | 33,061 | ||||||
Toyo Seikan Group Holdings Ltd. | 100 | 1,897 | ||||||
Toyo Suisan Kaisha Ltd. | 1,400 | 51,702 | ||||||
Toyobo Co. Ltd. | 500 | 9,145 | ||||||
Toyoda Gosei Co. Ltd. | 200 | 5,000 | ||||||
Toyota Boshoku Corp. | 100 | 1,751 | ||||||
Toyota Industries Corp. | 100 | 5,673 | ||||||
Toyota Motor Corp. | 100 | 6,250 | ||||||
Toyota Tsusho Corp. | 100 | 3,418 | ||||||
Trend Micro, Inc. | 600 | 37,877 | ||||||
TS Tech Co. Ltd. | 1,000 | 37,832 | ||||||
Tsumura & Co. | 300 | 10,267 | ||||||
Tsuruha Holdings, Inc. | 400 | 45,777 | ||||||
TV Asahi Holdings Corp. | 300 | 5,592 | ||||||
Ube Industries Ltd. | 2,900 | 73,935 | ||||||
Unicharm Corp. | 877 | 28,726 | ||||||
Ushio, Inc. | 100 | 1,322 | ||||||
USS Co. Ltd. | 2,600 | 49,123 | ||||||
Wacoal Holdings Corp. | 2,800 | 83,077 | ||||||
Welcia Holdings Co. Ltd. | 700 | 32,385 | ||||||
West Japan Railway Co. | 900 | 60,517 | ||||||
Yahoo Japan Corp. (b) | 100 | 344 | ||||||
Yakult Honsha Co. Ltd. | 200 | 14,249 | ||||||
Yamada Denki Co. Ltd. | 10,600 | 52,673 | ||||||
Yamaha Corp. | 981 | 46,978 | ||||||
Yamaha Motor Co. Ltd. | 700 | 17,783 | ||||||
Yamato Holdings Co. Ltd. | 2,100 | 62,573 | ||||||
Yamato Kogyo Co. Ltd. | 300 | 8,631 |
Number | Value | |||||||
Japan (Continued) | ||||||||
Yamazaki Baking Co. Ltd. | 800 | $ | 15,598 | |||||
Yaskawa Electric Corp. | 321 | 10,798 | ||||||
Yokogawa Electric Corp. | 2,200 | 45,216 | ||||||
Yokohama Rubber Co. Ltd. | 500 | 10,529 | ||||||
Zenkoku Hosho Co. Ltd. | 300 | 12,175 | ||||||
Zensho Holdings Co. Ltd. (b) | 2,300 | 46,400 | ||||||
Zeon Corp. | 3,200 | 34,371 | ||||||
|
| |||||||
13,637,222 | ||||||||
|
| |||||||
Jersey Island (d) — 0.0% | ||||||||
Randgold Resources Ltd. | 125 | 8,159 | ||||||
|
| |||||||
Luxembourg (d) — 0.1% | ||||||||
Eurofins Scientific SE | 24 | 13,582 | ||||||
L’Occitane International SA | 4,319 | 7,737 | ||||||
RTL Group SA (b) | 347 | 26,081 | ||||||
|
| |||||||
47,400 | ||||||||
|
| |||||||
Macau (d) — 0.0% | ||||||||
Sands China Ltd. | 1,060 | 5,172 | ||||||
|
| |||||||
Netherlands — 2.6% | ||||||||
Aalberts Industries NV | 2,286 | 98,252 | ||||||
ABN AMRO Group NV, 144A | 199 | 5,402 | ||||||
Aegon NV | 1,063 | 6,389 | ||||||
Akzo Nobel NV | 923 | 86,471 | ||||||
ASML Holding NV | 104 | 21,253 | ||||||
ASR Nederland NV | 1,583 | 75,699 | ||||||
EXOR NV | 163 | 10,617 | ||||||
Heineken Holding NV | 320 | 30,567 | ||||||
Heineken NV | 84 | 8,321 | ||||||
ING Groep NV | 321 | 4,366 | ||||||
Koninklijke Ahold Delhaize NV | 5,578 | 136,030 | ||||||
Koninklijke DSM NV | 4,275 | 449,547 | ||||||
Koninklijke KPN NV | 9,119 | 23,353 | ||||||
Koninklijke Philips NV | 2,862 | 128,169 | ||||||
Koninklijke Vopak NV | 321 | 16,583 | ||||||
NN Group NV | 1,040 | 44,687 | ||||||
QIAGEN NV* | 360 | 13,969 | ||||||
Randstad NV | 1,099 | 68,998 | ||||||
Royal Dutch Shell PLC, Class A | 396 | 12,875 | ||||||
Royal Dutch Shell PLC, Class B | 273 | 9,014 | ||||||
Signify NV, 144A | 5,814 | 163,974 | ||||||
Wolters Kluwer NV | 1,902 | 120,828 | ||||||
|
| |||||||
1,535,364 | ||||||||
|
| |||||||
New Zealand — 1.2% | ||||||||
Air New Zealand Ltd. | 29,353 | 64,270 | ||||||
Auckland International Airport Ltd. | 3,898 | 18,479 | ||||||
Contact Energy Ltd. | 19,316 | 71,130 | ||||||
Fisher & Paykel Healthcare Corp. Ltd. | 10,419 | 113,304 | ||||||
Fletcher Building Ltd. | 3,058 | 12,904 | ||||||
Kiwi Property Group Ltd. | 31,057 | 28,334 | ||||||
Mercury NZ Ltd. | 17,196 | 37,480 | ||||||
Meridian Energy Ltd. | 12,858 | 27,641 | ||||||
Ryman Healthcare Ltd. | 12,566 | 117,476 | ||||||
SKY Network Television Ltd. | 3,848 | 5,489 | ||||||
SKYCITY Entertainment Group Ltd. | 7,124 | 19,191 | ||||||
Spark New Zealand Ltd. | 60,556 | 160,314 |
See Notes to Financial Statements. | 24 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
New Zealand (Continued) | ||||||||
Xero Ltd.* | 966 | $ | 35,678 | |||||
|
| |||||||
711,690 | ||||||||
|
| |||||||
Norway — 1.2% | ||||||||
Aker BP ASA | 593 | 21,060 | ||||||
DNB ASA | 318 | 6,495 | ||||||
Equinor ASA | 1,326 | 34,107 | ||||||
Gjensidige Forsikring ASA | 939 | 15,754 | ||||||
Marine Harvest ASA (b) | 6,767 | 146,584 | ||||||
Norsk Hydro ASA | 17,892 | 99,080 | ||||||
Orkla ASA | 31,353 | 258,691 | ||||||
Telenor ASA | 4,630 | 87,532 | ||||||
Yara International ASA | 1,009 | 46,573 | ||||||
|
| |||||||
715,876 | ||||||||
|
| |||||||
Portugal — 0.4% | ||||||||
EDP — Energias de Portugal SA | 23,892 | 93,541 | ||||||
Galp Energia SGPS SA | 5,527 | 112,344 | ||||||
Jeronimo Martins SGPS SA | 1,661 | 24,940 | ||||||
|
| |||||||
230,825 | ||||||||
|
| |||||||
Singapore — 2.6% | ||||||||
Ascendas Real Estate Investment Trust REIT | 27,200 | 54,398 | ||||||
BOC Aviation Ltd., 144A | 3,734 | 27,355 | ||||||
CapitaLand Commercial Trust REIT | 131,095 | 169,365 | ||||||
CapitaLand Ltd. | 16,600 | 41,559 | ||||||
CapitaLand Mall Trust REIT | 68,600 | 107,152 | ||||||
City Developments Ltd. | 4,600 | 31,158 | ||||||
ComfortDelGro Corp. Ltd. | 27,500 | 45,965 | ||||||
DBS Group Holdings Ltd. | 700 | 12,748 | ||||||
Frasers Property Ltd. | 12,000 | 14,627 | ||||||
Genting Singapore Ltd. | 68,400 | 53,420 | ||||||
Golden Agri-Resources Ltd. | 92,600 | 19,263 | ||||||
Hutchison Port Holdings Trust, Class U | 93,400 | 22,883 | ||||||
Jardine Cycle & Carriage Ltd. | 93 | 2,202 | ||||||
Keppel Corp. Ltd. | 11,400 | 54,335 | ||||||
M1 Ltd. | 8,100 | 9,460 | ||||||
Oversea-Chinese Banking Corp. Ltd. | 4,163 | 34,336 | ||||||
SATS Ltd. | 16,300 | 60,320 | ||||||
Sembcorp Industries Ltd. | 16,700 | 33,277 | ||||||
Sembcorp Marine Ltd. | 2,697 | 3,307 | ||||||
SIA Engineering Co. Ltd. | 6,600 | 14,211 | ||||||
Singapore Airlines Ltd. | 15,600 | 111,587 | ||||||
Singapore Exchange Ltd. | 11,300 | 61,117 | ||||||
Singapore Post Ltd. | 10,600 | 8,897 | ||||||
Singapore Press Holdings Ltd. | 4,400 | 8,992 | ||||||
Singapore Technologies Engineering Ltd. | 14,400 | 35,105 | ||||||
Singapore Telecommunications Ltd. | 4,700 | 11,081 | ||||||
StarHub Ltd. | 14,200 | 16,791 | ||||||
Suntec Real Estate Investment Trust REIT | 19,800 | 27,025 | ||||||
United Overseas Bank Ltd. | 2,700 | 53,328 | ||||||
UOL Group Ltd. | 34,416 | 173,581 | ||||||
Venture Corp. Ltd. | 15,400 | 203,565 | ||||||
Wilmar International Ltd. | 4,000 | 9,343 | ||||||
|
| |||||||
1,531,753 | ||||||||
|
|
Number | Value | |||||||
South Africa (d) — 0.0% | ||||||||
Investec PLC | 1,222 | $ | 8,043 | |||||
|
| |||||||
South Korea — 3.4% | ||||||||
Amorepacific Corp. | 24 | 5,670 | ||||||
AMOREPACIFIC Group | 45 | 3,897 | ||||||
BGF retail Co. Ltd. | 106 | 16,331 | ||||||
BNK Financial Group, Inc. | 396 | 2,967 | ||||||
Cheil Worldwide, Inc. | 763 | 13,229 | ||||||
CJ CheilJedang Corp. | 30 | 9,231 | ||||||
CJ Corp. | 32 | 3,795 | ||||||
Coway Co. Ltd. | 202 | 16,586 | ||||||
Daelim Industrial Co. Ltd. | 120 | 8,829 | ||||||
DB Insurance Co. Ltd. | 515 | 29,610 | ||||||
DGB Financial Group, Inc. | 485 | 4,466 | ||||||
Dongsuh Cos., Inc. | 239 | 4,863 | ||||||
Doosan Corp. | 216 | 22,703 | ||||||
E-MART, Inc. | 171 | 32,951 | ||||||
GS Holdings Corp. | 1,796 | 85,674 | ||||||
Hankook Tire Co. Ltd. | 921 | 38,597 | ||||||
Hanon Systems | 602 | 6,490 | ||||||
Hanwha Chemical Corp. | 547 | 9,951 | ||||||
Hanwha Corp. | 1,366 | 39,085 | ||||||
Hanwha Life Insurance Co. Ltd. | 1,879 | 8,187 | ||||||
HDC Hyundai Development Co-Engineering & Construction* | 103 | 5,172 | ||||||
Hite Jinro Co. Ltd. | 454 | 6,852 | ||||||
Hotel Shilla Co. Ltd. | 86 | 8,344 | ||||||
Hyosung Advanced Materials Corp.* | 16 | 2,300 | ||||||
Hyosung Chemical Corp.* | 11 | 1,868 | ||||||
Hyosung Corp. | 50 | 2,062 | ||||||
Hyosung Heavy Industries Corp.* | 33 | 1,755 | ||||||
Hyosung TNC Co. Ltd.* | 15 | 2,560 | ||||||
Hyundai Construction Equipment Co. Ltd.* | 86 | 9,116 | ||||||
Hyundai Department Store Co. Ltd. | 265 | 23,711 | ||||||
Hyundai Development Co.-Engineering & Construction | 74 | 1,629 | ||||||
Hyundai Electric & Energy System Co. Ltd.* | 86 | 4,574 | ||||||
Hyundai Engineering & Construction Co. Ltd. | 186 | 10,026 | ||||||
Hyundai Glovis Co. Ltd. | 119 | 12,935 | ||||||
Hyundai Heavy Industries Holdings Co. Ltd.* | 120 | 40,695 | ||||||
Hyundai Marine & Fire Insurance Co. Ltd. | 1,189 | 39,735 | ||||||
Hyundai Mobis Co. Ltd. | 116 | 23,343 | ||||||
Hyundai Motor Co. | 122 | 13,700 | ||||||
Hyundai Steel Co. | 116 | 5,554 | ||||||
Industrial Bank of Korea | 1,988 | 26,610 | ||||||
Kangwon Land, Inc. | 398 | 10,351 | ||||||
KB Financial Group, Inc. | 880 | 40,871 | ||||||
KCC Corp. | 26 | 7,579 | ||||||
Kia Motors Corp. | 819 | 23,581 | ||||||
Korea Electric Power Corp. | 402 | 11,015 | ||||||
Korea Gas Corp.* | 233 | 11,010 | ||||||
Korea Investment Holdings Co. Ltd. | 125 | 8,006 | ||||||
Korea Zinc Co. Ltd. | 130 | 47,357 | ||||||
Korean Air Lines Co. Ltd. | 292 | 7,358 | ||||||
KT&G Corp. | 1,494 | 135,556 |
See Notes to Financial Statements. | 25 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
South Korea (Continued) | ||||||||
LG Chem Ltd. | 50 | $ | 16,440 | |||||
LG Corp. | 1,144 | 73,481 | ||||||
LG Display Co. Ltd. | 2,600 | 49,634 | ||||||
LG Electronics, Inc. | 743 | 51,262 | ||||||
LG Household & Health Care Ltd. | 4 | 4,546 | ||||||
LG Uplus Corp. | 2,233 | 31,494 | ||||||
Lotte Chemical Corp. | 21 | 5,961 | ||||||
Lotte Shopping Co. Ltd. | 91 | 14,715 | ||||||
LS Corp. | 303 | 18,292 | ||||||
Mando Corp. | 195 | 6,263 | ||||||
NCSoft Corp. | 29 | 10,095 | ||||||
NH Investment & Securities Co. Ltd. | 650 | 7,854 | ||||||
NongShim Co. Ltd. | 38 | 8,517 | ||||||
Orion Corp. | 329 | 31,625 | ||||||
POSCO | 363 | 106,472 | ||||||
S-1 Corp. | 325 | 25,021 | ||||||
Samsung C&T Corp. | 47 | 5,193 | ||||||
Samsung Electro-Mechanics Co. Ltd. | 161 | 23,286 | ||||||
Samsung Electronics Co. Ltd. | 612 | 26,637 | ||||||
Samsung Fire & Marine Insurance Co. Ltd. | 144 | 34,281 | ||||||
Samsung Life Insurance Co. Ltd. | 186 | 15,456 | ||||||
Samsung Securities Co. Ltd. | 416 | 12,090 | ||||||
Shinhan Financial Group Co. Ltd. | 470 | 18,409 | ||||||
Shinsegae Inc. | 21 | 6,122 | ||||||
SK Holdings Co. Ltd. | 313 | 73,951 | ||||||
SK Hynix, Inc. | 2,523 | 188,123 | ||||||
SK Innovation Co. Ltd. | 416 | 72,127 | ||||||
SK Telecom Co. Ltd. | 231 | 54,474 | ||||||
SKC Co. Ltd. | 85 | 3,593 | ||||||
S-Oil Corp. | 355 | 38,110 | ||||||
Woori Bank | 2,125 | 31,117 | ||||||
Yuhan Corp. | 71 | 15,244 | ||||||
|
| |||||||
1,988,222 | ||||||||
|
| |||||||
Spain — 1.5% | ||||||||
Acciona SA | 125 | 11,030 | ||||||
Acerinox SA | 616 | 8,300 | ||||||
ACS Actividades de Construccion y Servicios SA | 2,664 | 111,212 | ||||||
Aena SME SA, 144A | 149 | 26,438 | ||||||
Amadeus IT Group SA | 1,200 | 111,584 | ||||||
Banco Bilbao Vizcaya Argentaria SA | 578 | 3,611 | ||||||
Banco de Sabadell SA | 969 | 1,490 | ||||||
Bankinter SA | 2,001 | 17,843 | ||||||
CaixaBank SA | 111 | 499 | ||||||
Cellnex Telecom SA, 144A | 577 | 14,850 | ||||||
Corp. Financiera Alba SA | 1,086 | 61,283 | ||||||
Distribuidora Internacional de Alimentacion SA | 2,490 | 5,922 | ||||||
EDP Renovaveis SA | 675 | 6,711 | ||||||
Enagas SA | 3,405 | 94,883 | ||||||
Endesa SA | 1,325 | 29,738 | ||||||
Ferrovial SA | 1,813 | 39,288 | ||||||
Grifols SA | 449 | 13,233 | ||||||
Grupo Catalana Occidente SA | 375 | 15,729 | ||||||
Iberdrola SA | 7,428 | 55,502 | ||||||
Mapfre SA | 1,126 | 3,326 |
Number | Value | |||||||
Spain (Continued) | ||||||||
Mediaset Espana Comunicacion SA | 854 | $ | 6,258 | |||||
Merlin Properties Socimi SA REIT | 4,283 | 59,924 | ||||||
Naturgy Energy Group SA | 1,592 | 42,844 | ||||||
Red Electrica Corp. SA | 4,199 | 88,428 | ||||||
Repsol SA | 1,512 | 29,141 | ||||||
Telefonica SA | 1,602 | 13,023 | ||||||
Zardoya Otis SA | 2,845 | 26,564 | ||||||
|
| |||||||
898,654 | ||||||||
|
| |||||||
Sweden — 5.5% | ||||||||
Alfa Laval AB | 3,285 | 88,125 | ||||||
Assa Abloy AB, Class B | 2,183 | 44,537 | ||||||
Atlas Copco AB, Class A | 1,061 | 30,275 | ||||||
Atlas Copco AB, Class B | 463 | 12,253 | ||||||
Boliden AB | 3,938 | 103,186 | ||||||
Electrolux AB, Series B | 5,027 | 112,244 | ||||||
Epiroc AB, Class A* | 1,194 | 12,415 | ||||||
Epiroc AB, Class B* | 574 | 5,495 | ||||||
Essity AB, Class B | 871 | 22,594 | ||||||
Fastighets AB Balder, Class B* | 3,735 | 106,289 | ||||||
Hennes & Mauritz AB, Class B (b) | 318 | 4,289 | ||||||
Hexagon AB, Class B | 1,095 | 65,102 | ||||||
Husqvarna AB, Class B | 7,198 | 57,275 | ||||||
ICA Gruppen AB (b) | 1,362 | 41,517 | ||||||
Industrivarden AB, Class A | 7,049 | 154,922 | ||||||
Industrivarden AB, Class C | 6,746 | 144,239 | ||||||
Investment AB Latour, Class B | 1,451 | 16,961 | ||||||
Investor AB, Class B | 5,436 | 245,548 | ||||||
Kinnevik AB, Class B | 10,075 | 331,259 | ||||||
L E Lundbergforetagen AB, Class B | 1,380 | 46,401 | ||||||
Lundin Petroleum AB | 2,440 | 84,846 | ||||||
Nordea Bank AB | 487 | 5,266 | ||||||
Saab AB, Class B | 406 | 18,793 | ||||||
Sandvik AB | 6,578 | 115,232 | ||||||
Securitas AB, Class B | 5,871 | 104,550 | ||||||
Skandinaviska Enskilda Banken AB, Class A | 682 | 7,285 | ||||||
Skanska AB, Class B | 1,719 | 32,305 | ||||||
SKF AB, Class B | 3,812 | 73,328 | ||||||
Svenska Cellulosa AB SCA, Class B | 41,219 | 480,248 | ||||||
Svenska Handelsbanken AB, Class A | 617 | 7,486 | ||||||
Swedbank AB, Class A | 447 | 10,411 | ||||||
Swedish Match AB | 5,247 | 280,772 | ||||||
Tele2 AB, Class B | 5,841 | 72,114 | ||||||
Telia Co. AB | 18,176 | 80,690 | ||||||
Trelleborg AB, Class B | 3,290 | 64,349 | ||||||
Volvo AB, Class B | 8,550 | 147,390 | ||||||
|
| |||||||
3,229,991 | ||||||||
|
| |||||||
Switzerland — 4.0% | ||||||||
ABB Ltd. | 2,034 | 48,058 | ||||||
Adecco Group AG | 2,181 | 133,914 | ||||||
Baloise Holding AG | 203 | 31,276 | ||||||
Banque Cantonale Vaudoise | 5 | 3,759 | ||||||
Barry Callebaut AG | 37 | 66,111 | ||||||
Chocoladefabriken Lindt & Spruengli AG Participation Certificates | 6 | 44,763 | ||||||
Cie Financiere Richemont SA | 403 | 35,712 |
See Notes to Financial Statements. | 26 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
Switzerland (Continued) | ||||||||
Clariant AG* | 1,951 | $ | 48,861 | |||||
Coca-Cola HBC AG* | 2,663 | 91,307 | ||||||
DKSH Holding AG | 770 | 56,211 | ||||||
Dufry AG* | 102 | 12,646 | ||||||
EMS-Chemie Holding AG | 44 | 27,844 | ||||||
Ferguson PLC | 1,389 | 111,589 | ||||||
Flughafen Zurich AG | 283 | 58,643 | ||||||
Geberit AG | 156 | 71,104 | ||||||
Georg Fischer AG | 119 | 156,148 | ||||||
Givaudan SA | 50 | 121,911 | ||||||
Helvetia Holding AG | 9 | 5,416 | ||||||
Julius Baer Group Ltd.* | 321 | 17,100 | ||||||
Kuehne + Nagel International AG | 632 | 102,273 | ||||||
LafargeHolcim Ltd.* | 405 | 19,766 | ||||||
Logitech International SA | 1,217 | 60,202 | ||||||
Lonza Group AG* | 45 | 14,513 | ||||||
Nestle SA | 123 | 10,350 | ||||||
Novartis AG | 81 | 6,732 | ||||||
OC Oerlikon Corp. AG* | 4,944 | 72,184 | ||||||
Partners Group Holding AG | 115 | 90,492 | ||||||
PSP Swiss Property AG | 253 | 25,193 | ||||||
Roche Holding AG | 22 | 5,478 | ||||||
Schindler Holding AG | 124 | 28,721 | ||||||
Schindler Holding AG Participation Certificates | 231 | 55,224 | ||||||
SGS SA | 34 | 89,755 | ||||||
Sika AG | 910 | 135,216 | ||||||
Sonova Holding AG | 412 | 78,344 | ||||||
STMicroelectronics NV | 611 | 12,586 | ||||||
Straumann Holding AG | 73 | 58,311 | ||||||
Sulzer AG | 70 | 8,773 | ||||||
Swatch Group AG — Bearer | 147 | 62,868 | ||||||
Swatch Group AG — Registered | 166 | 13,483 | ||||||
Swiss Life Holding AG* | 56 | 20,336 | ||||||
Swiss Prime Site AG* | 290 | 26,793 | ||||||
Swiss Re AG | 72 | 6,489 | ||||||
Swisscom AG | 201 | 89,973 | ||||||
Temenos AG* | 554 | 100,248 | ||||||
Zurich Insurance Group AG | 49 | 14,957 | ||||||
|
| |||||||
2,351,633 | ||||||||
|
| |||||||
Taiwan (d) — 0.0% | ||||||||
FIT Hon Teng Ltd., 144A | 19,885 | 10,159 | ||||||
|
| |||||||
United Kingdom — 12.8% | ||||||||
3i Group PLC | 44,644 | 520,145 | ||||||
Admiral Group PLC | 4,305 | 116,385 | ||||||
Ashmore Group PLC | 5,394 | 24,931 | ||||||
Ashtead Group PLC | 1,443 | 44,300 | ||||||
Associated British Foods PLC | 1,624 | 48,316 | ||||||
AstraZeneca PLC | 148 | 11,147 | ||||||
Auto Trader Group PLC, 144A | 4,438 | 25,905 | ||||||
Aviva PLC | 1,350 | 8,510 | ||||||
B&M European Value Retail SA | 14,498 | 77,731 | ||||||
Babcock International Group PLC | 536 | 4,970 | ||||||
BAE Systems PLC | 10,143 | 79,891 | ||||||
Barratt Developments PLC | 12,222 | 86,100 | ||||||
Bellway PLC | 2,353 | 89,242 |
Number | Value | |||||||
United Kingdom (Continued) | ||||||||
Berkeley Group Holdings PLC | 3,805 | $ | 180,166 | |||||
BP PLC | 6,420 | 45,669 | ||||||
British Land Co. PLC REIT | 978 | 8,079 | ||||||
BT Group PLC | 5,625 | 15,891 | ||||||
Bunzl PLC | 1,740 | 54,232 | ||||||
Burberry Group PLC | 1,870 | 54,347 | ||||||
Centrica PLC | 7,822 | 14,569 | ||||||
CNH Industrial NV | 4,829 | 57,871 | ||||||
Cobham PLC* | 16,756 | 27,093 | ||||||
Compass Group PLC | 5,807 | 125,178 | ||||||
Croda International PLC | 1,701 | 112,755 | ||||||
Derwent London PLC REIT | 2,065 | 81,647 | ||||||
Diageo PLC | 659 | 23,079 | ||||||
Direct Line Insurance Group PLC | 38,433 | 165,295 | ||||||
Dixons Carphone PLC | 2,353 | 5,055 | ||||||
DS Smith PLC | 19,768 | 126,926 | ||||||
easyJet PLC | 2,889 | 57,263 | ||||||
Experian PLC | 2,181 | 54,427 | ||||||
Fiat Chrysler Automobiles NV* | 922 | 15,619 | ||||||
G4S PLC | 7,951 | 25,774 | ||||||
GlaxoSmithKline PLC | 371 | 7,524 | ||||||
Halma PLC | 5,979 | 111,284 | ||||||
Hammerson PLC REIT | 2,735 | 16,747 | ||||||
Hargreaves Lansdown PLC | 1,490 | 42,606 | ||||||
Howden Joinery Group PLC | 12,162 | 77,884 | ||||||
IMI PLC | 3,143 | 49,348 | ||||||
Imperial Brands PLC | 220 | 7,846 | ||||||
Inchcape PLC | 9,121 | 82,037 | ||||||
Informa PLC | 7,646 | 75,766 | ||||||
InterContinental Hotels Group PLC | 2,379 | 147,030 | ||||||
International Consolidated Airlines Group SA | 6,685 | 60,022 | ||||||
Intertek Group PLC | 1,620 | 108,101 | ||||||
ITV PLC | 10,918 | 22,797 | ||||||
J Sainsbury PLC | 16,317 | 68,756 | ||||||
Johnson Matthey PLC | 3,356 | 152,494 | ||||||
Just Eat PLC* | 349 | 3,477 | ||||||
Kingfisher PLC | 49,038 | 174,321 | ||||||
Legal & General Group PLC | 5,965 | 19,716 | ||||||
London Stock Exchange Group PLC | 124 | 7,452 | ||||||
Marks & Spencer Group PLC | 18,669 | 73,183 | ||||||
Meggitt PLC | 14,119 | 98,766 | ||||||
Melrose Industries PLC | 38,778 | 112,345 | ||||||
Merlin Entertainments PLC, 144A | 690 | 3,335 | ||||||
Micro Focus International PLC | 190 | 3,223 | ||||||
Mondi PLC | 1,548 | 43,158 | ||||||
National Grid PLC | 3,705 | 39,006 | ||||||
Next PLC | 4,240 | 303,102 | ||||||
Pearson PLC | 12,725 | 151,732 | ||||||
Pennon Group PLC | 1,402 | 14,006 | ||||||
Persimmon PLC | 5,684 | 179,745 | ||||||
Prudential PLC | 84 | 1,894 | ||||||
Quilter PLC, 144A | 1,996 | 3,654 | ||||||
Reckitt Benckiser Group PLC | 162 | 13,811 | ||||||
RELX NV | 3,505 | 77,810 | ||||||
RELX PLC | 3,508 | 77,968 | ||||||
Rentokil Initial PLC | 66,036 | 278,948 |
See Notes to Financial Statements. | 27 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
United Kingdom (Continued) | ||||||||
Rightmove PLC | 4,820 | $ | 30,826 | |||||
Rio Tinto Ltd. | 5,569 | 292,961 | ||||||
Rio Tinto PLC | 1,532 | 72,859 | ||||||
Rolls-Royce Holdings PLC* | 526 | 6,871 | ||||||
Royal Mail PLC | 46,821 | 272,633 | ||||||
RPC Group PLC | 552 | 5,124 | ||||||
RSA Insurance Group PLC | 1,392 | 11,427 | ||||||
Sage Group PLC | 5,056 | 39,127 | ||||||
Schroders PLC | 407 | 16,267 | ||||||
Segro PLC REIT | 69,771 | 596,888 | ||||||
Severn Trent PLC | 889 | 23,121 | ||||||
Sky PLC | 1,161 | 23,246 | ||||||
Smith & Nephew PLC | 8,584 | 151,457 | ||||||
Smiths Group PLC | 5,923 | 124,060 | ||||||
Spirax-Sarco Engineering PLC | 981 | 90,911 | ||||||
SSE PLC | 4,632 | 75,436 | ||||||
St James’s Place PLC | 996 | 14,648 | ||||||
Standard Life Aberdeen PLC | 2,701 | 11,125 | ||||||
Tate & Lyle PLC | 2,115 | 18,429 | ||||||
Taylor Wimpey PLC | 33,489 | 72,843 | ||||||
Tesco PLC | 17,335 | 55,539 | ||||||
Travis Perkins PLC | 4,406 | 65,886 | ||||||
Unilever NV | 900 | 51,881 | ||||||
Unilever PLC | 1,239 | 70,728 | ||||||
United Utilities Group PLC | 1,129 | 10,882 | ||||||
Vodafone Group PLC | 3,818 | 8,163 | ||||||
Weir Group PLC | 465 | 11,329 | ||||||
Whitbread PLC | 1,785 | 106,630 | ||||||
William Hill PLC | 6,535 | 21,880 | ||||||
Wm Morrison Supermarkets PLC | 29,705 | 101,638 | ||||||
WPP PLC | 1,667 | 27,701 | ||||||
|
| |||||||
7,581,918 | ||||||||
|
| |||||||
United States (d) — 0.5% | ||||||||
Carnival PLC | 1,835 | 110,451 | ||||||
Nexteer Automotive Group Ltd. | 2,192 | 3,692 | ||||||
OneMarket Ltd.* | 1,088 | 830 | ||||||
Samsonite International SA, 144A* | 3,084 | 12,456 |
Number | Value | |||||||
United States (d) (Continued) | ||||||||
Sims Metal Management Ltd. | 4,527 | $ | 41,120 | |||||
Waste Connections, Inc. | 1,507 | 119,698 | ||||||
|
| |||||||
288,247 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 58,768,959 | |||||||
|
| |||||||
PREFERRED STOCKS — 0.2% | ||||||||
Germany — 0.2% | ||||||||
FUCHS PETROLUB SE | 795 | 46,665 | ||||||
Henkel AG & Co. KGaA | 42 | 5,373 | ||||||
Porsche Automobil Holding SE | 444 | 28,165 | ||||||
Sartorius AG | 45 | 8,189 | ||||||
|
| |||||||
88,392 | ||||||||
|
| |||||||
South Korea — 0.0% | ||||||||
Hanwha Corp | 1,469 | 19,333 | ||||||
|
| |||||||
Spain — 0.0% | ||||||||
Grifols SA, Class B | 274 | 5,834 | ||||||
|
| |||||||
TOTAL PREFERRED STOCKS | 113,559 | |||||||
|
| |||||||
RIGHTS — 0.0% | ||||||||
Sweden — 0.0% | ||||||||
Kinnevik AB*, expires 12/31/19 (c) | 10,075 | 0 | ||||||
|
| |||||||
SECURITIES LENDING COLLATERAL — 0.4% |
| |||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 1.85% (e)(f) | 227,652 | 227,652 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 100.0% (Cost $58,887,957) | $ | 59,110,170 | ||||||
Other assets and liabilities, net — 0.0% | 16,266 | |||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 59,126,436 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the year ended August 31, 2018 is as follows:
Value ($) at | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 8/31/2018 | Value ($) at 8/31/2018 | ||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 0.4% |
| |||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 1.85% (e)(f) |
| |||||||||||||||||||||||||||||||
115,119 | 112,533 | — | — | — | 5,608 | — | 227,652 | 227,652 |
* | 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, 2018 amounted to $304,363, which is 0.5% of net assets. |
(c) | Investment was valued using significant unobservable inputs. |
(d) | Securities are listed in country of domicile and trade on exchanges within the FTSE Developed ex US Comprehensive Factor Index. |
(e) | 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. | 28 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Comprehensive Factor ETF (Continued)
August 31, 2018
(f) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. Represents the net increase (purchases cost) or decrease (sales proceeds) in the amount invested in cash collateral for the year ended August 31, 2018. In addition, the Fund held non-cash U.S. Treasury securities collateral having a value of $131,694. |
CDI: | Chess Depositary Interest |
REIT: | Real Estate Investment Trust |
RSP: | Risparmio (Convertible Savings Shares) |
144A: | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
At August 31, 2018, open futures contract purchased was as follows:
Contract Description | Currency | Number of Contracts | Notional Amount | Contract Value | Expiration Date | Unrealized Depreciation | ||||||||||||||||||
MSCI EAFE Futures | USD | 2 | $ | 198,025 | $ | 195,880 | 9/21/2018 | $ | (2,145 | ) |
Currency Abbreviations
USD | U.S. Dollar |
For information on the Fund’s policy and additional disclosures regarding open futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
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, 2018 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
Assets | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stocks (g) | $ | 58,703,058 | $ | — | $ | 65,901 | $ | 58,768,959 | ||||||||
Preferred Stocks (g) | 113,559 | — | — | 113,559 | ||||||||||||
Rights | — | — | 0 | 0 | ||||||||||||
Short-Term Investments | 227,652 | — | — | 227,652 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 59,044,269 | $ | — | $ | 65,901 | $ | 59,110,170 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liabilities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Derivatives (h) | ||||||||||||||||
Futures Contracts | $ | (2,145 | ) | $ | — | $ | — | $ | (2,145 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | (2,145 | ) | $ | — | $ | — | $ | (2,145 | ) | ||||||
|
|
|
|
|
|
|
|
(g) | See Schedule of Investments for additional detailed categorizations. |
(h) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
During the year ended August 31, 2018, the amount of transfers between Level 1 and Level 3 was $10,073. Investments were transferred from Level 1 to Level 3 as a result of a halt in trading on a securities exchange.
Transfers between price levels are recognized at the beginning of the reporting period.
See Notes to Financial Statements. | 29 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Emerging Comprehensive Factor ETF
August 31, 2018
Number | Value | |||||||
COMMON STOCKS — 95.5% | ||||||||
Brazil — 5.1% | ||||||||
AES Tiete Energia SA | 599 | $ | 1,404 | |||||
Ambev SA | 242 | 1,107 | ||||||
Atacadao Distribuicao Comercio e Industria Ltda | 654 | 2,308 | ||||||
B3 SA — Brasil Bolsa Balcao | 3,886 | 20,524 | ||||||
Banco BTG Pactual SA | 1,010 | 5,025 | ||||||
Banco do Brasil SA | 47 | 343 | ||||||
Banco Santander Brasil SA | 64 | 537 | ||||||
BB Seguridade Participacoes SA | 1,194 | 7,094 | ||||||
BR Malls Participacoes SA* | 140 | 311 | ||||||
CCR SA | 712 | 1,617 | ||||||
Cia de Saneamento Basico do Estado de Sao Paulo | 1,442 | 8,540 | ||||||
Cia Paranaense de Energia | 145 | 655 | ||||||
Cielo SA | 1,672 | 6,128 | ||||||
Cosan SA | 719 | 6,073 | ||||||
EDP — Energias do Brasil SA | 3,491 | 11,362 | ||||||
Embraer SA | 2,010 | 9,562 | ||||||
Energisa SA | 1,504 | 11,024 | ||||||
Engie Brasil Energia SA | 434 | 3,887 | ||||||
Equatorial Energia SA | 867 | 11,995 | ||||||
Estacio Participacoes SA | 470 | 2,571 | ||||||
Fibria Celulose SA | 378 | 7,264 | ||||||
Fleury SA | 1,933 | 12,057 | ||||||
Grendene SA | 5,172 | 8,988 | ||||||
Guararapes Confeccoes SA | 76 | 1,938 | ||||||
Hypera SA | 1,942 | 12,915 | ||||||
IRB Brasil Resseguros S/A | 926 | 13,359 | ||||||
JBS SA | 485 | 1,107 | ||||||
Klabin SA | 729 | 3,778 | ||||||
Kroton Educacional SA | 1,825 | 4,527 | ||||||
Localiza Rent a Car SA | 882 | 4,609 | ||||||
Lojas Renner SA | 2,787 | 19,130 | ||||||
M Dias Branco SA | 482 | 4,950 | ||||||
Multiplan Empreendimentos Imobiliarios SA | 414 | 1,872 | ||||||
Multiplus SA | 448 | 2,646 | ||||||
Natura Cosmeticos SA | 204 | 1,436 | ||||||
Odontoprev SA | 3,629 | 11,539 | ||||||
Petrobras Distribuidora SA | 306 | 1,469 | ||||||
Porto Seguro SA | 1,397 | 18,608 | ||||||
Qualicorp Consultoria e Corretora de Seguros SA | 3,805 | 14,555 | ||||||
Raia Drogasil SA | 579 | 10,821 | ||||||
Sao Martinho SA | 363 | 1,670 | ||||||
Smiles Fidelidade SA | 209 | 2,633 | ||||||
Sul America SA | 3,021 | 16,842 | ||||||
Suzano Papel e Celulose SA | 358 | 4,111 | ||||||
TIM Participacoes SA | 4,078 | 12,164 | ||||||
Transmissora Alianca de Energia Eletrica SA | 2,866 | 13,982 | ||||||
Ultrapar Participacoes SA | 370 | 3,697 | ||||||
Vale SA | 68 | 885 | ||||||
WEG SA | 988 | 4,590 | ||||||
|
| |||||||
330,209 | ||||||||
|
|
Number | Value | |||||||
Chile — 2.3% | ||||||||
AES Gener SA | 9,001 | $ | 2,278 | |||||
Aguas Andinas SA, Class A | 21,904 | 11,792 | ||||||
Banco de Chile | 28,245 | 4,086 | ||||||
Banco de Credito e Inversiones | 75 | 4,802 | ||||||
Banco Santander Chile | 39,330 | 3,021 | ||||||
Cencosud SA | 1,801 | 4,285 | ||||||
Cia Cervecerias Unidas SA | 1,021 | 13,503 | ||||||
Colbun SA | 45,736 | 9,672 | ||||||
Empresa Nacional de Telecomunicaciones SA | 447 | 3,676 | ||||||
Empresas CMPC SA | 2,421 | 9,577 | ||||||
Empresas COPEC SA | 411 | 6,298 | ||||||
Enel Americas SA | 121,184 | 18,072 | ||||||
Enel Chile SA | 245,880 | 24,123 | ||||||
Engie Energia Chile SA | 4,320 | 7,936 | ||||||
Latam Airlines Group SA | 307 | 2,887 | ||||||
Parque Arauco SA | 3,918 | 9,835 | ||||||
SACI Falabella | 404 | 3,224 | ||||||
SONDA SA | 5,132 | 6,767 | ||||||
|
| |||||||
145,834 | ||||||||
|
| |||||||
China — 16.2% | ||||||||
3SBio, Inc., 144A | 644 | 1,229 | ||||||
Agile Group Holdings Ltd. | 3,503 | 5,722 | ||||||
Agricultural Bank of China Ltd., Class H | 26,172 | 12,671 | ||||||
Air China Ltd., Class H | 10,295 | 9,654 | ||||||
Alibaba Group Holding Ltd., ADR* | 6 | 1,050 | ||||||
Aluminum Corp. of China Ltd., Class H* | 15,870 | 6,713 | ||||||
Angang Steel Co. Ltd., Class H | 4,424 | 4,351 | ||||||
Anhui Conch Cement Co. Ltd., Class H | 6,347 | 38,653 | ||||||
Anhui Expressway Co. Ltd., Class H | 7,417 | 4,300 | ||||||
Anhui Gujing Distillery Co. Ltd., Class B | 1,216 | 7,585 | ||||||
ANTA Sports Products Ltd. | 1,764 | 9,608 | ||||||
BAIC Motor Corp. Ltd., Class H, 144A | 910 | 765 | ||||||
Bank of China Ltd., Class H | 7,861 | 3,535 | ||||||
Bank of Communications Co. Ltd., Class H | 2,315 | 1,672 | ||||||
BBMG Corp., Class H | 150 | 56 | ||||||
Beijing Capital International Airport Co. Ltd., Class H | 4,122 | 4,390 | ||||||
Beijing Jingneng Clean Energy Co. Ltd., Class H | 2,715 | 578 | ||||||
Bengang Steel Plates Co. Ltd., Class B | 13,000 | 4,571 | ||||||
BOE Technology Group Co. Ltd., Class B | 10,969 | 4,276 | ||||||
BYD Electronic International Co. Ltd. | 463 | 487 | ||||||
CAR, Inc.* | 635 | 510 | ||||||
China BlueChemical Ltd., Class H | 3,670 | 1,281 | ||||||
China CITIC Bank Corp. Ltd., Class H | 11,572 | 7,224 | ||||||
China Coal Energy Co. Ltd., Class H | 4,521 | 1,924 | ||||||
China Communications Construction Co. Ltd., Class H | 3,826 | 3,797 | ||||||
China Communications Services Corp. Ltd., Class H | 12,182 | 10,088 | ||||||
China Conch Venture Holdings Ltd. | 8,102 | 27,871 | ||||||
China Construction Bank Corp., Class H | 601 | 532 | ||||||
China Dongxiang Group Co. Ltd. | 43,204 | 7,156 | ||||||
China Eastern Airlines Corp. Ltd., Class H | 5,556 | 3,554 | ||||||
China Everbright Bank Co. Ltd., Class H | 1,593 | 666 |
See Notes to Financial Statements. | 30 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Emerging Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
China (Continued) | ||||||||
China Galaxy Securities Co. Ltd., Class H | 236 | $ | 115 | |||||
China Huarong Asset Management Co. Ltd., Class H, 144A | 2,106 | 437 | ||||||
China International Capital Corp. Ltd., Class H, 144A | 568 | 1,039 | ||||||
China Life Insurance Co. Ltd., Class H | 1,191 | 2,692 | ||||||
China Longyuan Power Group Corp. Ltd., Class H | 1,912 | 1,610 | ||||||
China Machinery Engineering Corp., Class H | 1,431 | 696 | ||||||
China Medical System Holdings Ltd. | 4,725 | 7,826 | ||||||
China Merchants Bank Co. Ltd., Class H | 2,158 | 8,276 | ||||||
China Minsheng Banking Corp. Ltd., Class H | 2,103 | 1,506 | ||||||
China National Building Material Co. Ltd., Class H | 5,490 | 5,134 | ||||||
China Pacific Insurance Group Co. Ltd., Class H | 3,527 | 13,144 | ||||||
China Petroleum & Chemical Corp., Class H | 90,901 | 91,377 | ||||||
China Railway Construction Corp. Ltd., Class H | 1,623 | 1,962 | ||||||
China Railway Group Ltd., Class H | 7,690 | 6,643 | ||||||
China Railway Signal & Communication Corp. Ltd., Class H, 144A | 6,108 | 4,319 | ||||||
China Reinsurance Group Corp., Class H | 19,478 | 3,847 | ||||||
China Resources Pharmaceutical Group Ltd., 144A | 8,212 | 13,141 | ||||||
China Shenhua Energy Co. Ltd., Class H | 29,627 | 66,057 | ||||||
China Southern Airlines Co. Ltd., Class H | 5,656 | 3,740 | ||||||
China Telecom Corp. Ltd., Class H | 863 | 406 | ||||||
China Vanke Co. Ltd., Class H | 5,772 | 20,003 | ||||||
China Zhongwang Holdings Ltd. | 7,355 | 3,448 | ||||||
Chongqing Changan Automobile Co. Ltd., Class B | 2,813 | 2,466 | ||||||
Chongqing Rural Commercial Bank Co. Ltd., Class H | 1,314 | 708 | ||||||
CIFI Holdings Group Co. Ltd. | 13,638 | 7,906 | ||||||
CNOOC Ltd. | 1,823 | 3,224 | ||||||
COSCO SHIPPING Development Co. Ltd., Class H* | 4,374 | 635 | ||||||
COSCO SHIPPING Energy Transportation Co., Ltd., Class H | 6,154 | 2,689 | ||||||
COSCO SHIPPING Holdings Co. Ltd., Class H* | 1,607 | 670 | ||||||
Country Garden Holdings Co. Ltd. | 1,154 | 1,717 | ||||||
Country Garden Services Holdings Co. Ltd.* | 132 | 226 | ||||||
CRRC Corp. Ltd., Class H | 4,555 | 3,772 | ||||||
CSC Financial Co. Ltd., Class H, 144A* | 4,700 | 2,850 | ||||||
CSG Holding Co. Ltd., Class B | 7,598 | 2,924 | ||||||
CSPC Pharmaceutical Group Ltd. | 7,886 | 19,894 | ||||||
Dali Foods Group Co. Ltd., 144A | 6,769 | 4,916 | ||||||
Dalian Port PDA Co. Ltd., Class H | 5,082 | 686 | ||||||
Datang International Power Generation Co. Ltd., Class H | 23,450 | 6,005 | ||||||
Dazhong Transportation Group Co. Ltd., Class B | 4,610 | 2,015 |
Number | Value | |||||||
China (Continued) | ||||||||
Dongfang Electric Corp. Ltd., Class H* | 1,508 | $ | 836 | |||||
Dongfeng Motor Group Co. Ltd., Class H | 5,576 | 6,230 | ||||||
ENN Energy Holdings Ltd. | 3,320 | 30,244 | ||||||
Everbright Securities Co. Ltd., Class H, 144A | 1,121 | 1,093 | ||||||
Foshan Electrical and Lighting Co. Ltd., Class B | 7,040 | 3,812 | ||||||
Fosun International Ltd. | 1,354 | 2,450 | ||||||
Fuyao Glass Industry Group Co. Ltd., Class H, 144A | 4,594 | 16,945 | ||||||
Geely Automobile Holdings Ltd. | 1,418 | 3,013 | ||||||
GF Securities Co. Ltd., Class H | 1,523 | 1,911 | ||||||
GOME Retail Holdings Ltd.*(a) | 8,820 | 854 | ||||||
Great Wall Motor Co. Ltd., Class H | 5,681 | 3,496 | ||||||
Greentown China Holdings Ltd. | 540 | 544 | ||||||
Guangdong Electric Power Development Co. Ltd., Class B | 13,100 | 4,773 | ||||||
Guangshen Railway Co. Ltd., Class H | 7,107 | 3,106 | ||||||
Guangzhou Automobile Group Co. Ltd., Class H | 26,010 | 28,234 | ||||||
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class H | 781 | 2,876 | ||||||
Guangzhou R&F Properties Co. Ltd., Class H | 996 | 2,010 | ||||||
Guotai Junan Securities Co. Ltd., Class H, 144A | 5,053 | 10,429 | ||||||
Haitian International Holdings Ltd. | 3,306 | 6,638 | ||||||
Haitong Securities Co. Ltd., Class H | 877 | 775 | ||||||
Hengan International Group Co. Ltd. | 1,160 | 10,442 | ||||||
Huadian Fuxin Energy Corp. Ltd., Class H | 4,580 | 945 | ||||||
Huadian Power International Corp. Ltd., Class H | 4,259 | 1,585 | ||||||
Huaneng Power International, Inc., Class H | 14,599 | 9,374 | ||||||
Huaneng Renewables Corp. Ltd., Class H | 3,530 | 1,129 | ||||||
Huazhu Group Ltd., ADR (a) | 48 | 1,652 | ||||||
Industrial & Commercial Bank of China Ltd., Class H | 4,244 | 3,125 | ||||||
Inner Mongolia Yitai Coal Co. Ltd., Class B | 2,500 | 3,008 | ||||||
Jiangling Motors Corp. Ltd., Class B | 842 | 913 | ||||||
Jiangsu Expressway Co. Ltd., Class H | 15,630 | 19,754 | ||||||
Jiangxi Copper Co. Ltd., Class H | 8,880 | 10,522 | ||||||
Jinzhou Port Co. Ltd., Class B | 2,500 | 960 | ||||||
KWG Group Holdings Ltd. | 2,972 | 3,177 | ||||||
Lenovo Group Ltd. | 5,151 | 3,360 | ||||||
Li Ning Co. Ltd.* | 1,900 | 2,004 | ||||||
Livzon Pharmaceutical Group, Inc., Class H | 910 | 3,675 | ||||||
Logan Property Holdings Co. Ltd. | 8,477 | 10,584 | ||||||
Longfor Group Holdings Ltd. | 7,015 | 19,484 | ||||||
Luye Pharma Group Ltd., 144A | 5,109 | 4,810 | ||||||
Maanshan Iron & Steel Co. Ltd., Class H | 5,810 | 3,042 | ||||||
Metallurgical Corp. of China Ltd., Class H | 6,080 | 1,665 | ||||||
NetEase, Inc., ADR (a) | 10 | 1,977 | ||||||
New China Life Insurance Co. Ltd., Class H | 995 | 4,507 | ||||||
New Oriental Education & Technology Group, Inc., ADR | 133 | 10,454 | ||||||
Orient Securities Co. Ltd., Class H, 144A | 2,212 | 1,491 | ||||||
People’s Insurance Co. Group of China Ltd., Class H | 11,025 | 4,776 |
See Notes to Financial Statements. | 31 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Emerging Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
China (Continued) | ||||||||
PetroChina Co. Ltd., Class H | 33,774 | $ | 25,130 | |||||
PICC Property & Casualty Co. Ltd., Class H | 10,462 | 11,783 | ||||||
Ping An Insurance Group Co. of China Ltd., Class H | 293 | 2,822 | ||||||
Red Star Macalline Group Corp. Ltd., Class H, 144A | 4,535 | 4,657 | ||||||
Shandong Chenming Paper Holdings Ltd., Class B | 13,870 | 9,755 | ||||||
Shandong Chenming Paper Holdings Ltd., Class H | 3,567 | 2,477 | ||||||
Shandong Weigao Group Medical Polymer Co. Ltd., Class H | 291 | 276 | ||||||
Shanghai Bailian Group Co. Ltd., Class B | 1,223 | 1,296 | ||||||
Shanghai Baosight Software Co. Ltd., Class B | 1,000 | 1,806 | ||||||
Shanghai Chlor-Alkali Chemical Co. Ltd., Class B | 1,600 | 1,019 | ||||||
Shanghai Electric Group Co. Ltd., Class H | 3,150 | 987 | ||||||
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class H | 737 | 2,977 | ||||||
Shanghai Jinjiang International Hotels Development Co. Ltd., Class B | 1,200 | 2,542 | ||||||
Shanghai Jinqiao Export Processing Zone Development Co. Ltd., Class B | 1,100 | 1,296 | ||||||
Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd., Class B | 1,921 | 2,591 | ||||||
Shanghai Mechanical and Electrical Industry Co. Ltd., Class B | 3,562 | 6,123 | ||||||
Shanghai Pharmaceuticals Holding Co. Ltd., Class H | 3,369 | 8,842 | ||||||
Shanghai Zhenhua Heavy Industries Co. Ltd., Class B | 8,520 | 3,357 | ||||||
Shenzhen Expressway Co. Ltd., Class H | 7,172 | 6,954 | ||||||
Shenzhou International Group Holdings Ltd. | 980 | 12,860 | ||||||
Sichuan Expressway Co. Ltd., Class H | 4,375 | 1,310 | ||||||
Sihuan Pharmaceutical Holdings Group Ltd. | 12,030 | 2,667 | ||||||
SINA Corp.* | 90 | 6,386 | ||||||
Sino-Ocean Group Holding Ltd. | 17,490 | 8,891 | ||||||
Sinopec Engineering Group Co. Ltd., Class H | 10,622 | 11,070 | ||||||
Sinopec Shanghai Petrochemical Co. Ltd., Class H | 15,041 | 8,834 | ||||||
Sinopharm Group Co. Ltd., Class H | 416 | 2,070 | ||||||
Sinotrans Ltd., Class H | 2,959 | 1,240 | ||||||
Sinotruk Hong Kong Ltd. (a) | 9,459 | 14,124 | ||||||
SOHO China Ltd. | 3,017 | 1,211 | ||||||
Sunny Optical Technology Group Co. Ltd. | 45 | 572 | ||||||
TAL Education Group, ADR* | 268 | 7,933 | ||||||
Tencent Holdings Ltd. | 15 | 650 | ||||||
TravelSky Technology Ltd., Class H | 269 | 689 | ||||||
Tsingtao Brewery Co. Ltd., Class H | 2,217 | 10,536 | ||||||
Weichai Power Co. Ltd., Class H | 9,253 | 9,808 | ||||||
Weifu High-Technology Group Co. Ltd., Class B | 1,216 | 2,417 | ||||||
Wuxi Biologics Cayman, Inc., 144A* | 198 | 1,955 | ||||||
Wuxi Little Swan Co. Ltd., Class B | 2,647 | 12,748 |
Number | Value | |||||||
China (Continued) | ||||||||
Xinhua Winshare Publishing and Media Co. Ltd., Class H | 2,759 | $ | 1,838 | |||||
Xinjiang Goldwind Science & Technology Co. Ltd., Class H | 701 | 750 | ||||||
Yangzijiang Shipbuilding Holdings Ltd. | 21,774 | 17,005 | ||||||
Yantai Changyu Pioneer Wine Co. Ltd., Class B | 2,257 | 5,783 | ||||||
Yanzhou Coal Mining Co. Ltd., Class H | 2,131 | 2,463 | ||||||
YY, Inc., ADR* | 7 | 535 | ||||||
Zhejiang Expressway Co. Ltd., Class H | 1,478 | 1,173 | ||||||
Zhongsheng Group Holdings Ltd. | 2,928 | 6,424 | ||||||
Zhuzhou CRRC Times Electric Co. Ltd., Class H | 395 | 2,131 | ||||||
Zijin Mining Group Co. Ltd., Class H | 22,773 | 8,501 | ||||||
ZTE Corp., Class H* | 368 | 715 | ||||||
ZTO Express Cayman, Inc., ADR (a) | 239 | 4,412 | ||||||
|
| |||||||
1,042,265 | ||||||||
|
| |||||||
Colombia — 0.7% | ||||||||
Almacenes Exito SA | 2,998 | 15,565 | ||||||
Bancolombia SA | 596 | 6,399 | ||||||
Cemex Latam Holdings SA* | 963 | 1,986 | ||||||
Ecopetrol SA | 1,510 | 1,691 | ||||||
Grupo de Inversiones Suramericana SA | 182 | 2,145 | ||||||
Interconexion Electrica SA ESP | 3,486 | 15,429 | ||||||
|
| |||||||
43,215 | ||||||||
|
| |||||||
Czech Republic — 0.6% | ||||||||
CEZ AS | 635 | 16,166 | ||||||
Komercni banka AS | 96 | 4,013 | ||||||
Moneta Money Bank AS, 144A | 3,019 | 10,607 | ||||||
O2 Czech Republic AS | 155 | 1,840 | ||||||
Philip Morris CR AS | 14 | 9,432 | ||||||
|
| |||||||
42,058 | ||||||||
|
| |||||||
Egypt — 0.7% | ||||||||
Commercial International Bank Egypt SAE, GDR | 3,871 | 18,310 | ||||||
Eastern Tobacco | 1,500 | 8,725 | ||||||
ElSewedy Electric Co. | 1,000 | 10,793 | ||||||
Telecom Egypt Co. | 6,500 | 5,071 | ||||||
|
| |||||||
42,899 | ||||||||
|
| |||||||
Greece — 0.3% | ||||||||
FF Group*(b) | 144 | 804 | ||||||
Hellenic Petroleum SA | 272 | 2,310 | ||||||
Hellenic Telecommunications Organization SA | 186 | 2,378 | ||||||
JUMBO SA | 150 | 2,248 | ||||||
Motor Oil Hellas Corinth Refineries SA | 100 | 2,362 | ||||||
Mytilineos Holdings SA | 83 | 834 | ||||||
OPAP SA | 314 | 3,381 | ||||||
Titan Cement Co. SA | 209 | 4,815 | ||||||
|
| |||||||
19,132 | ||||||||
|
| |||||||
Hong Kong — 5.0% | ||||||||
Beijing Enterprises Holdings Ltd. | 2,646 | 12,692 | ||||||
Beijing Enterprises Water Group Ltd.* | 2,330 | 1,271 |
See Notes to Financial Statements. | 32 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Emerging Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
Hong Kong (Continued) | ||||||||
Bosideng International Holdings Ltd. | 9,873 | $ | 1,245 | |||||
Brilliance China Automotive Holdings Ltd. | 884 | 1,401 | ||||||
China Agri-Industries Holdings Ltd. | 2,651 | 1,054 | ||||||
China Everbright International Ltd. | 2,925 | 2,463 | ||||||
China Everbright Ltd. | 3,376 | 5,910 | ||||||
China Foods Ltd. | 2,641 | 1,312 | ||||||
China Gas Holdings Ltd. | 1,121 | 3,563 | ||||||
China Jinmao Holdings Group Ltd. | 4,465 | 2,105 | ||||||
China Merchants Port Holdings Co. Ltd. | 1,949 | 3,978 | ||||||
China Mobile Ltd. | 100 | 940 | ||||||
China Overseas Land & Investment Ltd. | 4,496 | 14,235 | ||||||
China Power International Development Ltd. | 6,639 | 1,446 | ||||||
China Resources Beer Holdings Co. Ltd. | 1,741 | 7,409 | ||||||
China Resources Cement Holdings Ltd. | 10,053 | 11,732 | ||||||
China Resources Gas Group Ltd. | 2,388 | 10,877 | ||||||
China Resources Land Ltd. | 3,135 | 10,924 | ||||||
China Resources Power Holdings Co. Ltd. | 8,294 | 14,942 | ||||||
China State Construction International Holdings Ltd. | 1,844 | 1,919 | ||||||
China Taiping Insurance Holdings Co. Ltd. | 841 | 2,668 | ||||||
China Traditional Chinese Medicine Holdings Co. Ltd. | 7,231 | 5,270 | ||||||
China Unicom Hong Kong Ltd. | 1,604 | 1,866 | ||||||
CITIC Ltd. | 1,088 | 1,547 | ||||||
COSCO SHIPPING Ports Ltd. | 5,776 | 6,115 | ||||||
Far East Horizon Ltd. | 808 | 765 | ||||||
GCL-Poly Energy Holdings Ltd.*(a) | 12,678 | 856 | ||||||
Guangdong Investment Ltd. | 7,974 | 14,142 | ||||||
Haier Electronics Group Co. Ltd.* | 3,142 | 8,186 | ||||||
Hopson Development Holdings Ltd. | 1,336 | 1,237 | ||||||
Kingboard Holdings Ltd. | 18,132 | 64,453 | ||||||
Kingboard Laminates Holdings Ltd. | 22,950 | 21,667 | ||||||
Kunlun Energy Co. Ltd. | 12,930 | 13,508 | ||||||
Lee & Man Paper Manufacturing Ltd. | 21,229 | 20,339 | ||||||
Nine Dragons Paper Holdings Ltd. | 2,052 | 2,327 | ||||||
Poly Property Group Co. Ltd. | 2,764 | 1,053 | ||||||
Shanghai Industrial Holdings Ltd. | 3,638 | 8,668 | ||||||
Shenzhen International Holdings Ltd. | 4,610 | 8,646 | ||||||
Shenzhen Investment Ltd. | 15,539 | 5,088 | ||||||
Shimao Property Holdings Ltd. | 1,806 | 5,384 | ||||||
Sino Biopharmaceutical Ltd. | 6,409 | 8,117 | ||||||
Yuexiu Property Co. Ltd. | 38,083 | 6,890 | ||||||
|
| |||||||
320,210 | ||||||||
|
| |||||||
Hungary — 1.3% | ||||||||
Magyar Telekom Telecommunications PLC | 8,930 | 13,144 | ||||||
MOL Hungarian Oil & Gas PLC | 5,000 | 51,204 | ||||||
OTP Bank Nyrt | 230 | 8,502 | ||||||
Richter Gedeon Nyrt | 462 | 9,116 | ||||||
|
| |||||||
81,966 | ||||||||
|
| |||||||
India — 7.7% | ||||||||
ABB India Ltd. | 148 | 2,730 | ||||||
ACC Ltd. | 325 | 7,509 | ||||||
Adani Ports & Special Economic Zone Ltd. | 615 | 3,322 | ||||||
Ambuja Cements Ltd. | 1,459 | 4,965 | ||||||
Ashok Leyland Ltd. | 1,131 | 2,058 |
Number | Value | |||||||
India (Continued) | ||||||||
Asian Paints Ltd. | 116 | $ | 2,245 | |||||
Aurobindo Pharma Ltd. | 211 | 2,120 | ||||||
Axis Bank Ltd.* | 120 | 1,099 | ||||||
Bajaj Auto Ltd. | 70 | 2,709 | ||||||
Bajaj Finance Ltd. | 50 | 2,014 | ||||||
Bajaj Holdings & Investment Ltd. | 370 | 16,262 | ||||||
Berger Paints India Ltd. | 302 | 1,425 | ||||||
Bharat Electronics Ltd. | 1,888 | 3,021 | ||||||
Bharat Forge Ltd. | 342 | 3,274 | ||||||
Bharat Heavy Electricals Ltd. | 748 | 850 | ||||||
Bharat Petroleum Corp. Ltd. | 1,349 | 6,887 | ||||||
Bharti Airtel Ltd. | 572 | 3,096 | ||||||
Bharti Infratel Ltd. | 1,257 | 5,085 | ||||||
Biocon Ltd. | 225 | 1,980 | ||||||
Bosch Ltd. | 5 | 1,550 | ||||||
Britannia Industries Ltd. | 47 | 4,464 | ||||||
Cadila Healthcare Ltd. | 38 | 216 | ||||||
Castrol India Ltd. | 870 | 1,948 | ||||||
Cipla Ltd. | 687 | 6,414 | ||||||
Coal India Ltd. | 898 | 3,620 | ||||||
Colgate-Palmolive India Ltd. | 213 | 3,511 | ||||||
Container Corp. Of India Ltd. | 848 | 7,794 | ||||||
Cummins India Ltd. | 188 | 2,036 | ||||||
Dabur India Ltd. | 1,313 | 8,863 | ||||||
Divi’s Laboratories Ltd. | 418 | 7,696 | ||||||
Dr Reddy’s Laboratories Ltd. | 70 | 2,460 | ||||||
Eicher Motors Ltd. | 10 | 3,956 | ||||||
Emami Ltd. | 126 | 1,003 | ||||||
Exide Industries Ltd. | 1,170 | 4,703 | ||||||
GAIL India Ltd. | 2,416 | 12,678 | ||||||
GlaxoSmithKline Consumer Healthcare Ltd. | 26 | 2,825 | ||||||
Godrej Consumer Products Ltd. | 158 | 3,235 | ||||||
Grasim Industries Ltd. | 1,123 | 16,902 | ||||||
Great Eastern Shipping Co. Ltd. | 787 | 3,382 | ||||||
Havells India Ltd. | 483 | 4,939 | ||||||
HCL Technologies Ltd. | 871 | 12,851 | ||||||
Hero MotoCorp Ltd. | 184 | 8,441 | ||||||
Hindalco Industries Ltd. | 1,253 | 4,204 | ||||||
Hindustan Petroleum Corp. Ltd. | 4,580 | 16,389 | ||||||
Hindustan Unilever Ltd. | 223 | 5,597 | ||||||
Hindustan Zinc Ltd. | 188 | 794 | ||||||
Housing Development Finance Corp. Ltd. | 133 | 3,630 | ||||||
ICICI Lombard General Insurance Co. Ltd., 144A | 189 | 2,121 | ||||||
ICICI Prudential Life Insurance Co. Ltd., 144A | 249 | 1,318 | ||||||
Indiabulls Housing Finance Ltd. | 47 | 834 | ||||||
Indian Oil Corp. Ltd. | 2,214 | 4,856 | ||||||
Infosys Ltd. | 576 | 11,703 | ||||||
InterGlobe Aviation Ltd., 144A | 253 | 3,313 | ||||||
ITC Ltd. | 297 | 1,339 | ||||||
JSW Energy Ltd.* | 716 | 736 | ||||||
JSW Steel Ltd. | 4,218 | 23,571 | ||||||
Kansai Nerolac Paints Ltd. | 741 | 5,385 | ||||||
Larsen & Toubro Ltd. | 127 | 2,452 | ||||||
Lupin Ltd. | 93 | 1,221 | ||||||
Mahindra & Mahindra Ltd. | 751 | 10,221 |
See Notes to Financial Statements. | 33 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Emerging Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
India (Continued) | ||||||||
Mangalore Refinery & Petrochemicals Ltd. | 484 | $ | 552 | |||||
Marico Ltd. | 1,163 | 6,058 | ||||||
Maruti Suzuki India Ltd. | 41 | 5,258 | ||||||
Motherson Sumi Systems Ltd. | 224 | 960 | ||||||
Mphasis Ltd. | 1,460 | 25,937 | ||||||
MRF Ltd. | 4 | 4,175 | ||||||
Nestle India Ltd. | 48 | 7,838 | ||||||
NHPC Ltd. | 17,379 | 6,212 | ||||||
NMDC Ltd. | 1,986 | 3,122 | ||||||
NTPC Ltd. | 2,094 | 5,063 | ||||||
Oil & Natural Gas Corp. Ltd. | 2,249 | 5,709 | ||||||
Oil India Ltd. | 1,731 | 5,213 | ||||||
Oracle Financial Services Software Ltd. | 142 | 8,329 | ||||||
Page Industries Ltd. | 21 | 10,190 | ||||||
Petronet LNG Ltd. | 1,346 | 4,707 | ||||||
Pidilite Industries Ltd. | 385 | 6,344 | ||||||
Power Grid Corp. of India Ltd. | 1,256 | 3,568 | ||||||
Rajesh Exports Ltd. | 765 | 7,155 | ||||||
Reliance Industries Ltd. | 163 | 2,854 | ||||||
Reliance Infrastructure Ltd. | 172 | 1,159 | ||||||
Rural Electrification Corp. Ltd. | 1,592 | 2,689 | ||||||
Shree Cement Ltd. | 11 | 2,935 | ||||||
Shriram Transport Finance Co. Ltd. | 109 | 2,053 | ||||||
Siemens Ltd. | 138 | 1,984 | ||||||
Steel Authority of India Ltd.* | 153 | 172 | ||||||
Sun Pharmaceutical Industries Ltd. | 344 | 3,166 | ||||||
Sun TV Network Ltd. | 111 | 1,199 | ||||||
Tata Communications Ltd. | 105 | 799 | ||||||
Tata Consultancy Services Ltd. | 58 | 1,700 | ||||||
Tata Motors Ltd.* | 481 | 1,814 | ||||||
Tata Power Co. Ltd. | 3,264 | 3,530 | ||||||
Tata Steel Ltd. | 106 | 897 | ||||||
Tech Mahindra Ltd. | 2,041 | 22,037 | ||||||
Titan Co. Ltd. | 309 | 3,886 | ||||||
Torrent Pharmaceuticals Ltd. | 105 | 2,684 | ||||||
Torrent Power Ltd. | 60 | 223 | ||||||
UltraTech Cement Ltd. | 30 | 1,893 | ||||||
United Breweries Ltd. | 71 | 1,406 | ||||||
UPL Ltd. | 570 | 5,749 | ||||||
Vakrangee Ltd. | 265 | 145 | ||||||
Vedanta Ltd. | 699 | 2,244 | ||||||
Wipro Ltd. | 1,375 | 5,840 | ||||||
Yes Bank Ltd. | 303 | 1,467 | ||||||
Zee Entertainment Enterprises Ltd. | 762 | 5,371 | ||||||
|
| |||||||
494,108 | ||||||||
|
| |||||||
Indonesia — 1.9% | ||||||||
PT Adaro Energy Tbk | 18,753 | 2,374 | ||||||
PT Astra Agro Lestari Tbk | 1,131 | 1,037 | ||||||
PT Astra International Tbk | 7,506 | 3,694 | ||||||
PT Bank Central Asia Tbk | 2,625 | 4,420 | ||||||
PT Bank Danamon Indonesia Tbk | 7,553 | 3,487 | ||||||
PT Bank Mandiri Persero Tbk | 5,643 | 2,643 | ||||||
PT Bank Negara Indonesia Persero Tbk | 9,450 | 5,004 | ||||||
PT Bank Rakyat Indonesia Persero Tbk | 19,593 | 4,230 | ||||||
PT Bukit Asam Tbk | 9,151 | 2,516 | ||||||
PT Bumi Serpong Damai Tbk* | 80,190 | 6,533 |
Number | Value | |||||||
Indonesia (Continued) | ||||||||
PT Charoen Pokphand Indonesia Tbk | 7,348 | $ | 2,484 | |||||
PT Gudang Garam Tbk | 832 | 4,123 | ||||||
PT Hanjaya Mandala Sampoerna Tbk | 3,301 | 858 | ||||||
PT Indocement Tunggal Prakarsa Tbk | 7,278 | 8,758 | ||||||
PT Indofood CBP Sukses Makmur Tbk | 5,954 | 3,507 | ||||||
PT Indofood Sukses Makmur Tbk | 15,777 | 6,828 | ||||||
PT Jasa Marga Persero Tbk | 25,323 | 7,788 | ||||||
PT Kalbe Farma Tbk | 73,079 | 6,673 | ||||||
PT Media Nusantara Citra Tbk | 9,667 | 594 | ||||||
PT Perusahaan Gas Negara Persero Tbk | 25,599 | 3,719 | ||||||
PT Semen Indonesia Persero Tbk | 20,627 | 13,233 | ||||||
PT Surya Citra Media Tbk | 13,648 | 1,946 | ||||||
PT Telekomunikasi Indonesia Persero Tbk | 33,491 | 7,935 | ||||||
PT Tower Bersama Infrastructure Tbk | 2,101 | 792 | ||||||
PT Unilever Indonesia Tbk | 804 | 2,393 | ||||||
PT United Tractors Tbk | 6,692 | 15,628 | ||||||
PT XL Axiata Tbk* | 4,697 | 1,014 | ||||||
|
| |||||||
124,211 | ||||||||
|
| |||||||
Isle of Man — 0.0% | ||||||||
MAS Real Estate, Inc. | 1,504 | 2,206 | ||||||
|
| |||||||
Malaysia — 5.9% | ||||||||
AirAsia Group Bhd | 17,401 | 14,566 | ||||||
Alliance Bank Malaysia Bhd | 1,948 | 1,958 | ||||||
AMMB Holdings Bhd | 361 | 360 | ||||||
Astro Malaysia Holdings Bhd | 15,857 | 6,714 | ||||||
Axiata Group Bhd | 9,783 | 11,427 | ||||||
British American Tobacco Malaysia Bhd | 134 | 1,104 | ||||||
Bumi Armada Bhd* | 26,000 | 3,511 | ||||||
CIMB Group Holdings Bhd | 6,532 | 9,680 | ||||||
DiGi.Com Bhd | 10,041 | 11,508 | ||||||
FGV Holdings Bhd | 6,317 | 2,321 | ||||||
Gamuda Bhd | 3,962 | 3,567 | ||||||
Genting Bhd | 8,919 | 18,708 | ||||||
Genting Malaysia Bhd | 8,736 | 11,097 | ||||||
HAP Seng Consolidated Bhd | 1,332 | 3,186 | ||||||
Hong Leong Bank Bhd | 783 | 3,917 | ||||||
Hong Leong Financial Group Bhd | 618 | 2,951 | ||||||
IHH Healthcare Bhd | 2,279 | 3,095 | ||||||
IJM Corp. Bhd | 10,978 | 4,995 | ||||||
IOI Corp. Bhd | 5,387 | 5,925 | ||||||
KLCCP Stapled Group (c) | 3,700 | 6,951 | ||||||
Kuala Lumpur Kepong Bhd | 1,925 | 11,551 | ||||||
Malayan Banking Bhd | 1,034 | 2,506 | ||||||
Malaysia Airports Holdings Bhd | 5,765 | 13,117 | ||||||
Maxis Bhd | 4,316 | 6,070 | ||||||
MISC Bhd | 6,889 | 9,941 | ||||||
MMC Corp. Bhd | 2,174 | 735 | ||||||
Nestle Malaysia Bhd | 469 | 16,777 | ||||||
Petronas Chemicals Group Bhd | 8,529 | 19,634 | ||||||
Petronas Dagangan Bhd | 2,919 | 19,320 | ||||||
Petronas Gas Bhd | 1,877 | 8,541 | ||||||
PPB Group Bhd | 2,160 | 8,830 | ||||||
Press Metal Aluminium Holdings Bhd | 3,986 | 4,830 | ||||||
Public Bank Bhd | 1,135 | 6,938 | ||||||
RHB Bank Bhd | 1,731 | 2,275 | ||||||
RHB Bank Bhd*(b) | 400 | 0 |
See Notes to Financial Statements. | 34 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Emerging Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
Malaysia (Continued) | ||||||||
Sime Darby Bhd | 76,247 | $ | 47,312 | |||||
Sime Darby Plantation Bhd | 9,115 | 11,889 | ||||||
Sime Darby Property Bhd | 21,743 | 6,667 | ||||||
Telekom Malaysia Bhd | 4,515 | 3,637 | ||||||
Tenaga Nasional Bhd | 8,801 | 33,581 | ||||||
Westports Holdings Bhd | 5,996 | 5,428 | ||||||
YTL Corp. Bhd | 28,128 | 9,103 | ||||||
YTL Power International Bhd | 11,888 | 3,298 | ||||||
|
| |||||||
379,521 | ||||||||
|
| |||||||
Mexico — 4.9% | ||||||||
Alfa SAB de CV, Class A | 7,323 | 9,625 | ||||||
Alpek SAB de CV | 1,548 | 2,282 | ||||||
Alsea SAB de CV | 2,344 | 8,344 | ||||||
America Movil SAB de CV, Series L | 18,487 | 15,518 | ||||||
Arca Continental SAB de CV | 131 | 805 | ||||||
Banco del Bajio SA, 144A | 765 | 1,780 | ||||||
Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand, Class B | 492 | 778 | ||||||
Becle SAB de CV | 619 | 876 | ||||||
Cemex SAB de CV, Series CPO* | 17,676 | 12,508 | ||||||
Coca-Cola Femsa SAB de CV, Series L | 734 | 4,412 | ||||||
Concentradora Fibra Danhos SA de CV REIT | 4,237 | 7,002 | ||||||
El Puerto de Liverpool SAB de CV, Class C1 | 428 | 3,011 | ||||||
Fibra Uno Administracion SA de CV REIT | 19,365 | 25,380 | ||||||
Fomento Economico Mexicano SAB de CV | 1,350 | 12,900 | ||||||
Gruma SAB de CV, Class B | 361 | 4,570 | ||||||
Grupo Aeroportuario del Centro Norte SAB de CV | 2,045 | 13,478 | ||||||
Grupo Aeroportuario del Pacifico SAB de CV, Class B | 1,932 | 19,930 | ||||||
Grupo Aeroportuario del Sureste SAB de CV, Class B | 342 | 6,402 | ||||||
Grupo Bimbo SAB de CV, Series A | 2,091 | 4,347 | ||||||
Grupo Carso SAB de CV, Series A1 | 450 | 1,664 | ||||||
Grupo Comercial Chedraui SA de CV | 5,770 | 13,682 | ||||||
Grupo Elektra SAB DE CV | 101 | 4,742 | ||||||
Grupo Financiero Banorte SAB de CV, Class O | 1,625 | 11,121 | ||||||
Grupo Financiero Inbursa SAB de CV, Class O | 5,911 | 9,386 | ||||||
Grupo Mexico SAB de CV, Series B | 2,189 | 6,413 | ||||||
Grupo Simec SAB de CV, Series B* | 295 | 839 | ||||||
Grupo Televisa SAB, Series CPO | 868 | 3,130 | ||||||
Industrias Bachoco SAB de CV, Series B | 3,727 | 18,013 | ||||||
Industrias CH SAB de CV, Series B* | 292 | 1,141 | ||||||
Industrias Penoles SAB de CV | 55 | 934 | ||||||
Infraestructura Energetica Nova SAB de CV | 1,664 | 7,732 | ||||||
Kimberly-Clark de Mexico SAB de CV, Class A | 2,076 | 3,644 | ||||||
Megacable Holdings SAB de CV, Series CPO | 2,874 | 13,508 | ||||||
Mexichem SAB de CV | 6,084 | 20,584 | ||||||
Nemak SAB de CV, 144A | 14,340 | 11,970 | ||||||
OHL Mexico SAB de CV | 1,413 | 2,142 |
Number | Value | |||||||
Mexico (Continued) | ||||||||
Organizacion Soriana SAB de CV, Class B* | 1,464 | $ | 2,681 | |||||
Promotora y Operadora de Infraestructura SAB de CV | 1,112 | 11,773 | ||||||
Regional SAB de CV | 936 | 5,743 | ||||||
Telesites SAB de CV* | 1,129 | 879 | ||||||
Wal-Mart de Mexico SAB de CV | 3,230 | 8,935 | ||||||
|
| |||||||
314,604 | ||||||||
|
| |||||||
Peru — 0.3% | ||||||||
Cia de Minas Buenaventura SAA, ADR | 148 | 1,863 | ||||||
Credicorp Ltd. | 87 | 18,867 | ||||||
|
| |||||||
20,730 | ||||||||
|
| |||||||
Philippines — 2.5% | ||||||||
Aboitiz Equity Ventures, Inc. | 5,960 | 5,958 | ||||||
Aboitiz Power Corp. | 4,180 | 2,893 | ||||||
Alliance Global Group, Inc.* | 17,909 | 4,622 | ||||||
Ayala Corp. | 392 | 7,331 | ||||||
Ayala Land, Inc. | 12,462 | 10,372 | ||||||
Bank of the Philippine Islands | 1,929 | 3,382 | ||||||
BDO Unibank, Inc. | 1,151 | 2,801 | ||||||
Bloomberry Resorts Corp. | 3,194 | 570 | ||||||
DMCI Holdings, Inc. | 48,933 | 11,714 | ||||||
Energy Development Corp.* | 8,122 | 1,069 | ||||||
Globe Telecom, Inc. | 85 | 3,364 | ||||||
GT Capital Holdings, Inc. | 725 | 11,878 | ||||||
International Container Terminal Services, Inc. | 4,019 | 7,039 | ||||||
Jollibee Foods Corp. | 3,804 | 20,490 | ||||||
LT Group, Inc. | 11,463 | 3,688 | ||||||
Manila Electric Co. | 2,653 | 18,528 | ||||||
Megaworld Corp. | 83,588 | 7,176 | ||||||
Metro Pacific Investments Corp. | 40,800 | 4,159 | ||||||
Metropolitan Bank & Trust Co. | 1,600 | 2,192 | ||||||
Petron Corp. | 11,745 | 1,990 | ||||||
PLDT, Inc. | 328 | 8,545 | ||||||
Semirara Mining & Power Corp. | 11,774 | 6,386 | ||||||
SM Investments Corp. | 448 | 8,094 | ||||||
SM Prime Holdings, Inc. | 8,815 | 6,430 | ||||||
Universal Robina Corp. | 880 | 2,296 | ||||||
|
| |||||||
162,967 | ||||||||
|
| |||||||
Poland — 2.1% | ||||||||
Alior Bank SA* | 73 | 1,350 | ||||||
Asseco Poland SA | 1,239 | 15,452 | ||||||
Bank Handlowy w Warszawie SA | 20 | 369 | ||||||
Bank Millennium SA* | 256 | 625 | ||||||
Bank Polska Kasa Opieki SA | 22 | 698 | ||||||
Bank Zachodni WBK SA | 11 | 1,124 | ||||||
Budimex SA | 54 | 1,673 | ||||||
CCC SA | 69 | 4,042 | ||||||
CD Projekt SA* | 122 | 6,828 | ||||||
Ciech SA | 113 | 1,615 | ||||||
Cyfrowy Polsat SA* | 66 | 403 | ||||||
Dino Polska SA, 144A* | 151 | 3,746 | ||||||
Enea SA* | 1,414 | 3,281 | ||||||
Eurocash SA | 409 | 2,263 | ||||||
Grupa Azoty SA | 136 | 1,404 |
See Notes to Financial Statements. | 35 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Emerging Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
Poland (Continued) | ||||||||
Grupa Lotos SA | 207 | $ | 3,931 | |||||
LPP SA | 5 | 12,505 | ||||||
mBank SA | 8 | 890 | ||||||
Orange Polska SA* | 8,074 | 10,662 | ||||||
PGE Polska Grupa Energetyczna SA* | 3,618 | 8,847 | ||||||
PLAY Communications SA, 144A | 1,070 | 6,309 | ||||||
Polski Koncern Naftowy ORLEN SA | 957 | 25,545 | ||||||
Polskie Gornictwo Naftowe i Gazownictwo SA* | 5,746 | 9,086 | ||||||
Powszechna Kasa Oszczednosci Bank Polski SA | 190 | 2,179 | ||||||
Powszechny Zaklad Ubezpieczen SA | 479 | 5,812 | ||||||
Tauron Polska Energia SA* | 5,964 | 3,241 | ||||||
|
| |||||||
133,880 | ||||||||
|
| |||||||
Qatar — 0.7% | ||||||||
Al Meera Consumer Goods Co. QSC | 65 | 2,706 | ||||||
Barwa Real Estate Co. | 942 | 9,316 | ||||||
Commercial Bank QSC | 40 | 433 | ||||||
Doha Bank QPSC | 267 | 1,885 | ||||||
Industries Qatar QSC | 145 | 4,938 | ||||||
Masraf Al Rayan QSC | 316 | 3,272 | ||||||
Ooredoo QPSC | 153 | 3,076 | ||||||
Qatar Electricity & Water Co. QSC | 102 | 5,362 | ||||||
Qatar Gas Transport Co. Ltd. | 545 | 2,618 | ||||||
Qatar International Islamic Bank QSC | 103 | 1,585 | ||||||
Qatar Islamic Bank SAQ | 57 | 2,192 | ||||||
Qatar National Bank QPSC | 24 | 1,173 | ||||||
Qatar Navigation QSC | 133 | 2,387 | ||||||
United Development Co. QSC | 641 | 2,447 | ||||||
|
| |||||||
43,390 | ||||||||
|
| |||||||
Romania — 0.0% | ||||||||
NEPI Rockcastle PLC | 253 | 2,417 | ||||||
|
| |||||||
Russia — 2.9% | ||||||||
Aeroflot PJSC | 2,136 | 3,663 | ||||||
Alrosa PJSC | 9,543 | 14,365 | ||||||
Federal Grid Co Unified Energy System PJSC | 313,925 | 760 | ||||||
Gazprom PJSC | 2,468 | 5,495 | ||||||
Inter RAO UES PJSC | 111,891 | 6,711 | ||||||
LSR Group PJSC, GDR | 145 | 296 | ||||||
LUKOIL PJSC | 306 | 21,355 | ||||||
Magnit PJSC | 16 | 964 | ||||||
Magnitogorsk Iron & Steel Works PJSC | 8,294 | 5,966 | ||||||
MMC Norilsk Nickel PJSC | 24 | 3,998 | ||||||
Mobile TeleSystems PJSC | 6,354 | 24,712 | ||||||
Mosenergo PJSC | 98,003 | 2,701 | ||||||
Novatek PJSC | 359 | 5,772 | ||||||
Novolipetsk Steel PJSC | 3,925 | 9,654 | ||||||
Novorossiysk Commercial Sea Port PJSC* | 41,778 | 3,858 | ||||||
PhosAgro PJSC, GDR | 621 | 8,228 | ||||||
Polyus PJSC, GDR | 91 | 2,953 | ||||||
ROSSETI PJSC | 19,737 | 198 | ||||||
Rostelecom PJSC | 6,946 | 6,971 | ||||||
RusHydro PJSC | 196,795 | 1,861 | ||||||
Safmar Financial Investment | 101 | 1,205 |
Number | Value | |||||||
Russia (Continued) | ||||||||
Sberbank of Russia PJSC | 463 | $ | 1,251 | |||||
Severstal PJSC | 914 | 14,739 | ||||||
Surgutneftegas PJSC | 3,668 | 1,565 | ||||||
Tatneft PJSC | 2,562 | 29,788 | ||||||
TMK PJSC | 908 | 952 | ||||||
Unipro PJSC | 87,763 | 3,476 | ||||||
|
| |||||||
183,457 | ||||||||
|
| |||||||
Singapore — 0.1% | ||||||||
Yanlord Land Group Ltd. | 3,498 | 3,881 | ||||||
|
| |||||||
South Africa — 9.8% | ||||||||
Absa Group Ltd. (a) | 348 | 3,861 | ||||||
AECI Ltd. | 1,029 | 7,309 | ||||||
African Rainbow Minerals Ltd. | 99 | 851 | ||||||
Anglo American Platinum Ltd. | 40 | 1,174 | ||||||
Aspen Pharmacare Holdings Ltd. | 399 | 7,936 | ||||||
Attacq Ltd.* | 1,055 | 1,162 | ||||||
AVI Ltd. | 2,368 | 18,750 | ||||||
Barloworld Ltd. | 2,023 | 17,260 | ||||||
Bid Corp. Ltd. | 1,105 | 23,651 | ||||||
Bidvest Group Ltd. | 2,345 | 34,572 | ||||||
Capitec Bank Holdings Ltd. | 78 | 5,338 | ||||||
Clicks Group Ltd. | 2,271 | 31,466 | ||||||
Coronation Fund Managers Ltd. | 615 | 2,416 | ||||||
Dis-Chem Pharmacies Ltd., 144A | 1,897 | 4,380 | ||||||
Discovery Ltd. | 474 | 5,668 | ||||||
Exxaro Resources Ltd. | 771 | 7,833 | ||||||
FirstRand Ltd. (a) | 449 | 2,167 | ||||||
Fortress REIT Ltd., Class A REIT | 13,096 | 14,740 | ||||||
Foschini Group Ltd. | 1,045 | 12,453 | ||||||
Gold Fields Ltd. | 314 | 772 | ||||||
Growthpoint Properties Ltd. REIT | 18,260 | 31,706 | ||||||
Hyprop Investments Ltd. REIT | 1,938 | 13,492 | ||||||
Imperial Holdings Ltd. | 2,356 | 33,155 | ||||||
Investec Ltd. | 483 | 3,170 | ||||||
JSE Ltd. | 272 | 3,007 | ||||||
KAP Industrial Holdings Ltd. | 4,082 | 2,076 | ||||||
Liberty Holdings Ltd. (a) | 291 | 2,312 | ||||||
Massmart Holdings Ltd. | 775 | 5,859 | ||||||
MMI Holdings Ltd. | 582 | 681 | ||||||
Mr Price Group Ltd. | 924 | 14,211 | ||||||
MTN Group Ltd. (a) | 1,084 | 6,584 | ||||||
Nampak Ltd.* | 2,230 | 2,399 | ||||||
Nedbank Group Ltd. (a) | 101 | 1,916 | ||||||
Netcare Ltd. | 2,524 | 5,056 | ||||||
Omnia Holdings Ltd. | 496 | 4,401 | ||||||
Pepkor Holdings Ltd., 144A* | 993 | 1,220 | ||||||
Pick n Pay Stores Ltd. | 3,830 | 18,952 | ||||||
Pioneer Foods Group Ltd. | 103 | 742 | ||||||
PSG Group Ltd. | 49 | 753 | ||||||
Rand Merchant Investment Holdings Ltd. | 3,441 | 9,592 | ||||||
Redefine Properties Ltd. REIT | 12,885 | 9,102 | ||||||
Remgro Ltd. | 721 | 10,551 | ||||||
Resilient REIT Ltd. REIT | 450 | 1,750 | ||||||
Reunert Ltd. | 3,640 | 18,892 | ||||||
RMB Holdings Ltd. | 3,630 | 20,886 | ||||||
Sanlam Ltd. | 755 | 4,088 |
See Notes to Financial Statements. | 36 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Emerging Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
South Africa (Continued) | ||||||||
Santam Ltd. | 362 | $ | 7,491 | |||||
Sappi Ltd. | 640 | 4,385 | ||||||
Sasol Ltd. (a) | 235 | 9,239 | ||||||
Shoprite Holdings Ltd. | 883 | 12,295 | ||||||
SPAR Group Ltd. (a) | 3,997 | 55,926 | ||||||
Standard Bank Group Ltd. | 191 | 2,429 | ||||||
Super Group Ltd.* | 10,653 | 28,648 | ||||||
Telkom SA SOC Ltd. | 845 | 2,900 | ||||||
Tiger Brands Ltd. | 607 | 11,860 | ||||||
Tongaat Hulett Ltd. | 351 | 1,895 | ||||||
Truworths International Ltd. | 2,811 | 16,508 | ||||||
Tsogo Sun Holdings Ltd. | 1,095 | 1,571 | ||||||
Vodacom Group Ltd. | 644 | 5,556 | ||||||
Vukile Property Fund Ltd. REIT | 18,283 | 25,082 | ||||||
Woolworths Holdings Ltd. | 3,901 | 14,436 | ||||||
|
| |||||||
630,533 | ||||||||
|
| |||||||
Spain — 0.1% | ||||||||
AmRest Holdings SE* | 37 | 4,081 | ||||||
|
| |||||||
Taiwan — 13.8% | ||||||||
Acer, Inc.* | 31,907 | 26,697 | ||||||
Advantech Co. Ltd. | 651 | 4,430 | ||||||
ASE Technology Holding Co. Ltd.* | 5,083 | 12,461 | ||||||
Asia Cement Corp. | 7,481 | 10,193 | ||||||
Asustek Computer, Inc. | 4,969 | �� | 42,305 | |||||
AU Optronics Corp. | 86,090 | 37,278 | ||||||
Catcher Technology Co. Ltd. | 1,525 | 18,693 | ||||||
Cathay Financial Holding Co. Ltd. | 1,166 | 1,997 | ||||||
Chang Hwa Commercial Bank Ltd.* | 4,911 | 3,054 | ||||||
Cheng Shin Rubber Industry Co. Ltd. | 3,081 | 4,704 | ||||||
Cheng Uei Precision Industry Co. Ltd. | 8,270 | 7,552 | ||||||
Chicony Electronics Co. Ltd. | 4,366 | 9,183 | ||||||
China Airlines Ltd. | 21,601 | 6,618 | ||||||
China Development Financial Holding Corp. | 18,196 | 6,576 | ||||||
China Life Insurance Co. Ltd. | 7,515 | 7,475 | ||||||
China Motor Corp. | 9,739 | 8,181 | ||||||
China Steel Corp. | 15,734 | 12,883 | ||||||
Chunghwa Telecom Co. Ltd. | 2,785 | 9,838 | ||||||
Compal Electronics, Inc. | 873 | 547 | ||||||
CTBC Financial Holding Co. Ltd. | 15,836 | 11,136 | ||||||
Delta Electronics, Inc. | 2,012 | 8,057 | ||||||
E.Sun Financial Holding Co. Ltd. | 10,603 | 7,802 | ||||||
Eclat Textile Co. Ltd. | 116 | 1,409 | ||||||
Epistar Corp. | 1,107 | 1,276 | ||||||
Eternal Materials Co. Ltd. | 8,332 | 7,297 | ||||||
Eva Airways Corp.* | 13,376 | 6,794 | ||||||
Evergreen Marine Corp. Taiwan Ltd. | 2,170 | 922 | ||||||
Far Eastern International Bank* | 6,474 | 2,371 | ||||||
Far Eastern New Century Corp. | 10,431 | 12,141 | ||||||
Far EasTone Telecommunications Co. Ltd. | 4,955 | 11,809 | ||||||
Feng Hsin Steel Co. Ltd. | 8,706 | 16,440 | ||||||
Feng TAY Enterprise Co. Ltd. | 1,117 | 6,764 | ||||||
First Financial Holding Co. Ltd. | 10,454 | 6,994 | ||||||
Formosa Chemicals & Fibre Corp. | 4,678 | 18,733 | ||||||
Formosa Petrochemical Corp. | 840 | 3,446 | ||||||
Formosa Plastics Corp. | 4,273 | 15,651 | ||||||
Formosa Taffeta Co. Ltd. | 704 | 819 |
Number | Value | |||||||
Taiwan (Continued) | ||||||||
Foxconn Technology Co. Ltd. | 3,574 | $ | 9,076 | |||||
Fubon Financial Holding Co. Ltd. | 1,881 | 3,117 | ||||||
Giant Manufacturing Co. Ltd. | 137 | 591 | ||||||
Hon Hai Precision Industry Co. Ltd. | 2,295 | 6,015 | ||||||
Hua Nan Financial Holdings Co. Ltd. | 6,408 | 3,755 | ||||||
Innolux Corp. | 73,608 | 27,440 | ||||||
Inventec Corp. | 15,448 | 13,856 | ||||||
Largan Precision Co. Ltd. | 11 | 1,685 | ||||||
Lite-On Technology Corp. | 5,635 | 6,779 | ||||||
MediaTek, Inc. | 1,901 | 15,566 | ||||||
Mega Financial Holding Co. Ltd. | 6,305 | 5,296 | ||||||
Nan Ya Plastics Corp. | 7,100 | 19,741 | ||||||
Nanya Technology Corp. | 981 | 2,226 | ||||||
Novatek Microelectronics Corp. | 4,706 | 23,059 | ||||||
Oriental Union Chemical Corp. | 2,635 | 2,792 | ||||||
Pegatron Corp. | 9,949 | 21,443 | ||||||
Pou Chen Corp. | 7,456 | 8,217 | ||||||
President Chain Store Corp. | 2,984 | 32,546 | ||||||
Quanta Computer, Inc. | 807 | 1,387 | ||||||
Realtek Semiconductor Corp. | 2,471 | 11,987 | ||||||
Shin Kong Financial Holding Co. Ltd.* | 26,149 | 10,344 | ||||||
SinoPac Financial Holdings Co. Ltd. | 29,457 | 10,789 | ||||||
Synnex Technology International Corp. | 32,319 | 43,246 | ||||||
Taishin Financial Holding Co. Ltd. | 4,585 | 2,157 | ||||||
Taiwan Business Bank* | 17,368 | 6,276 | ||||||
Taiwan Cement Corp. | 9,315 | 12,844 | ||||||
Taiwan Cooperative Financial Holding Co. Ltd. | 18,440 | 10,956 | ||||||
Taiwan Fertilizer Co. Ltd. | 2,162 | 2,981 | ||||||
Taiwan Glass Industry Corp. | 2,510 | 1,336 | ||||||
Taiwan High Speed Rail Corp. | 5,588 | 4,712 | ||||||
Taiwan Mobile Co. Ltd. | 2,526 | 8,800 | ||||||
Taiwan Secom Co. Ltd. | 2,124 | 6,065 | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd. | 684 | 5,701 | ||||||
Teco Electric and Machinery Co. Ltd. | 4,343 | 3,181 | ||||||
Transcend Information, Inc. | 1,021 | 2,470 | ||||||
U-Ming Marine Transport Corp. | 805 | 895 | ||||||
Unimicron Technology Corp. | 21,899 | 12,548 | ||||||
Uni-President Enterprises Corp. | 15,522 | 39,216 | ||||||
United Microelectronics Corp. | 49,910 | 28,193 | ||||||
Vanguard International Semiconductor Corp. | 3,703 | 8,982 | ||||||
Walsin Lihwa Corp. | 54,905 | 38,790 | ||||||
Wan Hai Lines Ltd. | 3,537 | 1,935 | ||||||
Wistron Corp. | 33,097 | 23,437 | ||||||
Yuanta Financial Holding Co. Ltd. | 15,792 | 7,995 | ||||||
Yulon Motor Co. Ltd. | 298 | 204 | ||||||
Yulon Nissan Motor Co. Ltd. | 242 | 1,911 | ||||||
|
| |||||||
883,064 | ||||||||
|
| |||||||
Thailand — 6.7% | ||||||||
Advanced Info Service PCL, NVDR | 1,546 | 9,541 | ||||||
Airports of Thailand PCL, NVDR | 2,310 | 4,711 | ||||||
Bangkok Bank PCL | 380 | 2,380 | ||||||
Bangkok Dusit Medical Services PCL, NVDR | 8,166 | 6,549 | ||||||
Bangkok Life Assurance PCL, NVDR | 503 | 503 |
See Notes to Financial Statements. | 37 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Emerging Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
Thailand (Continued) | ||||||||
Banpu PCL, NVDR | 22,835 | $ | 14,163 | |||||
BTS Group Holdings PCL, NVDR | 16,077 | 4,543 | ||||||
Bumrungrad Hospital PCL, NVDR | 1,041 | 5,773 | ||||||
Central Pattana PCL, NVDR | 11,816 | 29,784 | ||||||
Charoen Pokphand Foods PCL, NVDR | 3,536 | 2,782 | ||||||
CP ALL PCL, NVDR | 5,332 | 10,996 | ||||||
Delta Electronics Thailand PCL, NVDR | 1,668 | 3,554 | ||||||
Electricity Generating PCL, NVDR | 2,897 | 20,004 | ||||||
Energy Absolute PCL, NVDR | 3,100 | 3,670 | ||||||
Glow Energy PCL, NVDR | 4,813 | 13,823 | ||||||
Home Product Center PCL, NVDR | 29,477 | 13,149 | ||||||
Indorama Ventures PCL, NVDR | 7,728 | 14,167 | ||||||
Intouch Holdings PCL, NVDR | 11,612 | 19,690 | ||||||
IRPC PCL, NVDR | 162,617 | 34,531 | ||||||
Kasikornbank PCL | 254 | 1,645 | ||||||
Kasikornbank PCL, NVDR | 158 | 1,018 | ||||||
Krung Thai Bank PCL, NVDR | 5,798 | 3,437 | ||||||
Land & Houses PCL, NVDR | 89,121 | 30,769 | ||||||
Minor International PCL, NVDR | 6,902 | 8,330 | ||||||
PTT Exploration & Production PCL, NVDR | 3,979 | 17,324 | ||||||
PTT Global Chemical PCL, NVDR | 15,402 | 38,470 | ||||||
PTT PCL, NVDR | 9,840 | 15,784 | ||||||
Ratchaburi Electricity Generating Holding PCL, NVDR | 11,446 | 18,272 | ||||||
Siam Cement PCL | 1,196 | 16,517 | ||||||
Siam City Cement PCL, NVDR | 117 | 843 | ||||||
Siam Commercial Bank PCL, NVDR | 1,040 | 4,703 | ||||||
Thai Oil PCL, NVDR | 18,570 | 47,801 | ||||||
Thai Union Group PCL, NVDR | 6,639 | 3,550 | ||||||
TMB Bank PCL, NVDR | 84,677 | 5,692 | ||||||
Total Access Communication PCL, NVDR | 1,646 | 2,301 | ||||||
|
| |||||||
430,769 | ||||||||
|
| |||||||
Turkey — 2.5% | ||||||||
Akbank TAS | 1,581 | 1,375 | ||||||
Anadolu Efes Biracilik Ve Malt Sanayii AS | 499 | 1,575 | ||||||
Arcelik AS | 368 | 737 | ||||||
Aselsan Elektronik Sanayi Ve Ticaret AS | 655 | 2,554 | ||||||
Aygaz AS | 1,907 | 3,453 | ||||||
BIM Birlesik Magazalar AS | 1,745 | 19,236 | ||||||
Coca-Cola Icecek AS | 162 | 699 | ||||||
Emlak Konut Gayrimenkul Yatirim Ortakligi AS REIT | 4,112 | 1,143 | ||||||
Enka Insaat ve Sanayi AS | 2,072 | 1,605 | ||||||
Eregli Demir ve Celik Fabrikalari TAS | 9,690 | 17,325 | ||||||
Ford Otomotiv Sanayi AS | 987 | 9,978 | ||||||
Haci Omer Sabanci Holding AS | 1,008 | 1,084 | ||||||
KOC Holding AS | 1,722 | 3,895 | ||||||
Migros Ticaret AS* | 364 | 742 | ||||||
Petkim Petrokimya Holding AS | 1,191 | 991 | ||||||
Soda Sanayii AS | 6,807 | 8,326 | ||||||
TAV Havalimanlari Holding AS | 1,372 | 6,829 | ||||||
Tekfen Holding AS | 4,887 | 15,099 | ||||||
Tofas Turk Otomobil Fabrikasi AS | 1,106 | 3,825 | ||||||
Tupras Turkiye Petrol Rafinerileri AS | 1,583 | 28,207 | ||||||
Turk Hava Yollari AO* | 330 | 811 | ||||||
Turk Telekomunikasyon AS* | 2,977 | 1,645 |
Number | Value | |||||||
Turkey (Continued) | ||||||||
Turk Traktor ve Ziraat Makineleri AS | 186 | $ | 1,279 | |||||
Turkcell Iletisim Hizmetleri AS | 5,702 | 9,127 | ||||||
Turkiye Garanti Bankasi AS | 1,663 | 1,494 | ||||||
Turkiye Halk Bankasi AS | 270 | 250 | ||||||
Turkiye Is Bankasi AS, Class C | 1,999 | 1,204 | ||||||
Turkiye Sinai Kalkinma Bankasi AS | 10,001 | 1,148 | ||||||
Turkiye Sise ve Cam Fabrikalari AS | 13,971 | 12,996 | ||||||
Turkiye Vakiflar Bankasi TAO, Class D | 1,889 | 987 | ||||||
Ulker Biskuvi Sanayi AS* | 784 | 1,756 | ||||||
Yapi ve Kredi Bankasi AS* | 3,147 | 798 | ||||||
|
| |||||||
162,173 | ||||||||
|
| |||||||
United Arab Emirates — 0.9% | ||||||||
Abu Dhabi Commercial Bank PJSC | 1,115 | 2,155 | ||||||
Abu Dhabi National Oil Co. for Distribution PJSC | 4,000 | 2,668 | ||||||
Air Arabia PJSC | 32,316 | 8,886 | ||||||
Al Waha Capital PJSC | 4,000 | 2,015 | ||||||
Aldar Properties PJSC | 8,443 | 4,436 | ||||||
DAMAC Properties Dubai Co. PJSC | 4,230 | 2,418 | ||||||
Dana Gas PJSC | 4,260 | 1,287 | ||||||
DP World Ltd. | 141 | 3,017 | ||||||
Dubai Investments PJSC | 4,249 | 2,302 | ||||||
Dubai Islamic Bank PJSC | 1,944 | 2,710 | ||||||
Emaar Development PJSC* | 5,500 | 7,921 | ||||||
Emaar Malls PJSC | 7,670 | 4,176 | ||||||
Emaar Properties PJSC | 4,819 | 6,573 | ||||||
Emirates Telecommunications Group Co. PJSC | 702 | 3,240 | ||||||
First Abu Dhabi Bank PJSC | 506 | 2,039 | ||||||
|
| |||||||
55,843 | ||||||||
|
| |||||||
United Kingdom — 0.5% | ||||||||
Mondi Ltd. | 1,096 | 30,685 | ||||||
|
| |||||||
TOTAL COMMON STOCKS | 6,130,308 | |||||||
|
| |||||||
PREFERRED STOCKS — 2.6% | ||||||||
Brazil — 1.7% | ||||||||
Alpargatas SA | 924 | 2,714 | ||||||
Banco Bradesco SA | 53 | 365 | ||||||
Banco do Estado do Rio Grande do Sul SA, Class B | 374 | 1,330 | ||||||
Bradespar SA | 232 | 1,750 | ||||||
Braskem SA, Class A | 698 | 10,031 | ||||||
Centrais Eletricas Brasileiras SA, Class B* | 108 | 474 | ||||||
Cia Brasileira de Distribuicao | 1,705 | 33,797 | ||||||
Cia de Gas de Sao Paulo — COMGAS, Class A | 509 | 6,466 | ||||||
Cia de Transmissao de Energia Eletrica Paulista | 147 | 2,043 | ||||||
Cia Energetica de Minas Gerais | 62 | 112 | ||||||
Cia Paranaense de Energia, Class B | 22 | 109 | ||||||
Gerdau SA | 176 | 685 | ||||||
Itau Unibanco Holding SA | 308 | 3,160 | ||||||
Itausa — Investimentos Itau SA | 12,566 | 29,249 | ||||||
Telefonica Brasil SA | 1,440 | 13,987 | ||||||
|
| |||||||
106,272 | ||||||||
|
|
See Notes to Financial Statements. | 38 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Emerging Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
Chile — 0.3% | ||||||||
Embotelladora Andina SA, Class B | 1,382 | $ | 5,344 | |||||
Sociedad Quimica y Minera de Chile SA, Class B | 239 | 10,383 | ||||||
|
| |||||||
15,727 | ||||||||
|
| |||||||
Colombia — 0.2% | ||||||||
Bancolombia SA 3.24% | 572 | 6,217 | ||||||
Grupo Aval Acciones y Valores SA | 23,407 | 9,195 | ||||||
|
| |||||||
15,412 | ||||||||
|
| |||||||
Russia — 0.4% | ||||||||
Bashneft PJSC | 417 | 10,460 | ||||||
Surgutneftegas PJSC | 7,816 | 4,342 | ||||||
Tatneft PJSC, Series | 555 | 4,334 | ||||||
Transneft PJSC | 4 | 8,463 | ||||||
|
| |||||||
27,599 | ||||||||
|
| |||||||
TOTAL PREFERRED STOCKS | 165,010 | |||||||
|
| |||||||
EXCHANGE TRADED FUNDS — 1.0% | ||||||||
Global X MSCI Pakistan ETF | 2,150 | 23,758 | ||||||
iShares Core MSCI Emerging Markets ETF | 300 | 15,693 | ||||||
iShares MSCI Emerging Markets ETF | 225 | 9,713 | ||||||
Vanguard FTSE Emerging Markets ETF | 300 | 12,612 | ||||||
|
| |||||||
TOTAL EXCHANGE TRADED FUNDS | 61,776 | |||||||
|
|
Number | Value | |||||||
RIGHTS — 0.0% | ||||||||
Hong Kong — 0.0% | ||||||||
China Everbright International Ltd., expires 09/13/18* | 1,083 | $ | 84 | |||||
|
| |||||||
WARRANT — 0.0% | ||||||||
Thailand — 0.0% | ||||||||
BTS Group Holdings PCL, NVDR*, expires 12/31/19 (b) | 1,786 | 7 | ||||||
|
| |||||||
SECURITIES LENDING COLLATERAL — 1.4% | ||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 1.85% (d)(e) | 90,527 | 90,527 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 100.5% (Cost $6,594,920) | $ | 6,447,712 | ||||||
Other assets and liabilities, net — (0.5%) | (31,231 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 6,416,481 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the year ended August 31, 2018 is as follows:
Value ($) at | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 8/31/2018 | Value ($) at 8/31/2018 | ||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 1.4% |
| |||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 1.85% (d)(e) |
| |||||||||||||||||||||||||||||||
184,866 | — | (94,339) | — | — | 565 | — | 90,527 | 90,527 |
* | 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, 2018 amounted to $94,828, which is 1.5% of net assets. |
(b) | Investment was valued using significant unobservable inputs. |
(c) | Stapled Security — A security contractually bound to one or more other securities to form a single saleable unit which cannot be sold separately. |
(d) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
(e) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. Represents the net increase (purchases cost) or decrease (sales proceeds) in the amount invested in cash collateral for the year ended August 31, 2018. In addition, the Fund held non-cash U.S. Treasury securities collateral having a value of $8,824. |
ADR: | American Depositary Receipt |
CPO: | Ordinary Participation Certificates |
GDR: | Global Depositary Receipt |
NVDR: | Non Voting Depositary Receipt |
PJSC: | Public Joint Stock 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. |
See Notes to Financial Statements. | 39 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Emerging Comprehensive Factor ETF (Continued)
August 31, 2018
At August 31, 2018, open futures contract purchased was as follows:
Contract Description | Currency | Number of Contracts | Notional Amount | Contract Value | Expiration Date | Unrealized Depreciation | ||||||||||||||||||
MSCI Emerging Markets Index Futures | USD | 1 | $ | 56,565 | $ | 52,745 | 9/21/2018 | $ | (3,820 | ) |
Currency Abbreviations
USD | U.S. Dollar |
For information on the Fund’s policy and additional disclosures regarding open futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
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, 2018 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
Assets | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stocks (f) | $ | 6,129,504 | $ | — | $ | 804 | $ | 6,130,308 | ||||||||
Preferred Stocks (f) | 165,010 | — | — | 165,010 | ||||||||||||
Exchange Traded Funds | 61,776 | — | — | 61,776 | ||||||||||||
Rights | — | 84 | — | 84 | ||||||||||||
Warrant | — | — | 7 | 7 | ||||||||||||
Short-Term Investments | 90,527 | — | — | 90,527 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 6,446,817 | $ | 84 | $ | 811 | $ | 6,447,712 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liabilities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Derivatives (g) | ||||||||||||||||
Futures Contracts | $ | (3,820 | ) | $ | — | $ | — | $ | (3,820 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | (3,820 | ) | $ | — | $ | — | $ | (3,820 | ) | ||||||
|
|
|
|
|
|
|
|
(f) | See Schedule of Investments for additional detailed categorizations. |
(g) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
During the year ended August 31, 2018, the amount of transfers between Level 1 and Level 3 was $894. Investments were transferred from Level 1 to Level 3 as a result of a halt in trading on a securities exchange.
Transfers between price levels are recognized at the beginning of the reporting period.
See Notes to Financial Statements. | 40 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 Comprehensive Factor ETF
August 31, 2018
Number | Value | |||||||
COMMON STOCKS — 98.8% | ||||||||
Consumer Discretionary — 19.0% | ||||||||
Adient PLC (a) | 714 | $ | 30,909 | |||||
Advance Auto Parts, Inc. | 726 | 119,086 | ||||||
AMC Networks, Inc., Class A* | 1,524 | 95,722 | ||||||
Aptiv PLC | 3,136 | 275,999 | ||||||
Aramark | 5,513 | 226,474 | ||||||
AutoNation, Inc.*(a) | 2,130 | 96,596 | ||||||
AutoZone, Inc.* | 967 | 741,573 | ||||||
Best Buy Co., Inc. | 6,301 | 501,308 | ||||||
Booking Holdings, Inc.* | 33 | 64,401 | ||||||
BorgWarner, Inc. | 10,183 | 445,710 | ||||||
Bright Horizons Family Solutions, Inc.* | 2,100 | 250,803 | ||||||
Brunswick Corp. | 3,256 | 216,264 | ||||||
Burlington Stores, Inc.* | 1,956 | 328,960 | ||||||
Cable One, Inc. | 62 | 51,940 | ||||||
CarMax, Inc.*(a) | 1,739 | 135,729 | ||||||
Carnival Corp. | 4,700 | 289,003 | ||||||
Carter’s, Inc. | 4,504 | 477,109 | ||||||
CBS Corp., Class B | 1,970 | 104,449 | ||||||
Charter Communications, Inc., Class A* | 165 | 51,216 | ||||||
Chipotle Mexican Grill, Inc.* | 110 | 52,270 | ||||||
Choice Hotels International, Inc. | 1,766 | 137,836 | ||||||
Cinemark Holdings, Inc. (a) | 2,136 | 79,716 | ||||||
Columbia Sportswear Co. | 1,166 | 105,756 | ||||||
Comcast Corp., Class A | 1,153 | 42,649 | ||||||
D.R. Horton, Inc. | 8,882 | 395,338 | ||||||
Darden Restaurants, Inc. | 3,974 | 461,143 | ||||||
Dick’s Sporting Goods, Inc. (a) | 702 | 26,283 | ||||||
Discovery, Inc., Class A* | 586 | 16,308 | ||||||
Discovery, Inc., Class C* | 1,816 | 46,562 | ||||||
Dollar General Corp. | 13,621 | 1,467,390 | ||||||
Dollar Tree, Inc.* | 7,799 | 627,898 | ||||||
Domino’s Pizza, Inc. | 1,081 | 322,743 | ||||||
Dunkin’ Brands Group, Inc. (a) | 1,378 | 100,442 | ||||||
Expedia Group, Inc. (a) | 154 | 20,097 | ||||||
Extended Stay America, Inc. | 3,113 | 62,820 | ||||||
Foot Locker, Inc. | 1,371 | 67,590 | ||||||
Ford Motor Co. | 21,686 | 205,583 | ||||||
Gap, Inc. | 9,924 | 301,193 | ||||||
Garmin Ltd. | 7,280 | 496,059 | ||||||
General Motors Co. | 5,428 | 195,679 | ||||||
Gentex Corp. | 29,756 | 695,695 | ||||||
Genuine Parts Co. | 1,154 | 115,227 | ||||||
Goodyear Tire & Rubber Co. | 1,667 | 37,824 | ||||||
Graham Holdings Co., Class B | 211 | 118,719 | ||||||
Grand Canyon Education, Inc.* | 2,686 | 320,010 | ||||||
H&R Block, Inc. (a) | 4,408 | 119,281 | ||||||
Hanesbrands, Inc. (a) | 4,287 | 75,194 | ||||||
Harley-Davidson, Inc. (a) | 1,631 | 69,513 | ||||||
Hasbro, Inc. | 1,725 | 171,310 | ||||||
Hilton Grand Vacations, Inc.* | 3,376 | 110,260 | ||||||
Hilton Worldwide Holdings, Inc. | 2,254 | 174,956 | ||||||
Home Depot, Inc. | 605 | 121,466 | ||||||
Hyatt Hotels Corp., Class A | 2,935 | 227,052 | ||||||
International Game Technology PLC (a) | 811 | 17,063 | ||||||
Interpublic Group of Companies, Inc. (a) | 17,573 | 410,330 | ||||||
John Wiley & Sons, Inc., Class A | 5,208 | 336,176 |
Number | Value | |||||||
Consumer Discretionary (Continued) | ||||||||
Kohl’s Corp. | 7,265 | $ | 574,734 | |||||
L Brands, Inc. (a) | 684 | 18,078 | ||||||
Las Vegas Sands Corp. | 830 | 54,299 | ||||||
Lear Corp. | 7,894 | 1,280,407 | ||||||
Leggett & Platt, Inc. (a) | 2,677 | 121,643 | ||||||
Lennar Corp., Class A | 2,055 | 106,182 | ||||||
Liberty Broadband Corp., Class A* | 369 | 29,889 | ||||||
Liberty Broadband Corp., Class C* | 967 | 78,414 | ||||||
Liberty Media Corp-Liberty SiriusXM, Class A* | 1,684 | 78,710 | ||||||
Liberty Media Corp-Liberty SiriusXM, Class C* | 3,480 | 163,699 | ||||||
Lions Gate Entertainment Corp., Class B | 1,332 | 29,903 | ||||||
Live Nation Entertainment, Inc.*(a) | 5,351 | 265,838 | ||||||
LKQ Corp.* | 3,245 | 112,017 | ||||||
Lowe’s Cos., Inc. | 3,209 | 348,979 | ||||||
Lululemon Athletica, Inc.* | 826 | 127,972 | ||||||
Macy’s, Inc. | 6,571 | 240,170 | ||||||
Madison Square Garden Co., Class A* | 620 | 187,203 | ||||||
Marriott International, Inc., Class A | 2,470 | 312,381 | ||||||
McDonald’s Corp. | 594 | 96,365 | ||||||
MGM Resorts International | 1,407 | 40,789 | ||||||
Michael Kors Holdings Ltd.* | 3,275 | 237,831 | ||||||
Michaels Cos., Inc.*(a) | 2,825 | 47,997 | ||||||
Mohawk Industries, Inc.* | 690 | 132,197 | ||||||
News Corp., Class A | 6,130 | 80,119 | ||||||
News Corp., Class B | 1,287 | 17,503 | ||||||
NIKE, Inc., Class B | 4,482 | 368,420 | ||||||
Nordstrom, Inc. (a) | 3,500 | 219,975 | ||||||
Norwegian Cruise Line Holdings Ltd.* | 2,176 | 116,655 | ||||||
NVR, Inc.* | 229 | 611,075 | ||||||
Omnicom Group, Inc. | 5,001 | 346,669 | ||||||
O’Reilly Automotive, Inc.* | 2,184 | 732,557 | ||||||
Penske Automotive Group, Inc. | 416 | 21,894 | ||||||
Polaris Industries, Inc. (a) | 3,191 | 346,064 | ||||||
Pool Corp. (a) | 2,370 | 389,296 | ||||||
PulteGroup, Inc. (a) | 20,589 | 575,463 | ||||||
PVH Corp. | 1,563 | 223,759 | ||||||
Qurate Retail, Inc.* | 1,537 | 31,954 | ||||||
Ralph Lauren Corp. | 3,082 | 409,320 | ||||||
Ross Stores, Inc. | 13,519 | 1,294,850 | ||||||
Royal Caribbean Cruises Ltd. | 1,379 | 169,038 | ||||||
Service Corp. International | 9,273 | 389,095 | ||||||
ServiceMaster Global Holdings, Inc.* | 3,264 | 196,721 | ||||||
Sirius XM Holdings, Inc. | 17,963 | 127,537 | ||||||
Six Flags Entertainment Corp. (a) | 3,309 | 223,523 | ||||||
Starbucks Corp. | 2,820 | 150,729 | ||||||
Tapestry, Inc. | 4,905 | 248,634 | ||||||
Target Corp. | 19,591 | 1,714,213 | ||||||
Thor Industries, Inc. (a) | 3,091 | 295,005 | ||||||
Tiffany & Co. | 2,403 | 294,728 | ||||||
TJX Cos., Inc. | 7,381 | 811,689 | ||||||
Toll Brothers, Inc. | 9,791 | 354,728 | ||||||
Tractor Supply Co. | 10,785 | 952,100 | ||||||
Tribune Media Co., Class A | 291 | 10,735 | ||||||
Twenty-First Century Fox, Inc., Class A | 3,713 | 168,570 | ||||||
Twenty-First Century Fox, Inc., Class B | 1,678 | 75,342 |
See Notes to Financial Statements. | 41 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
Consumer Discretionary (Continued) | ||||||||
Ulta Beauty, Inc.* | 241 | $ | 62,660 | |||||
Urban Outfitters, Inc.*(a) | 2,160 | 100,397 | ||||||
Vail Resorts, Inc. | 154 | 45,900 | ||||||
VF Corp. | 6,388 | 588,526 | ||||||
Viacom, Inc., Class B | 1,134 | 33,204 | ||||||
Visteon Corp.*(a) | 3,768 | 415,950 | ||||||
Walt Disney Co. | 987 | 110,564 | ||||||
Wendy’s Co. | 1,852 | 32,688 | ||||||
Whirlpool Corp. | 880 | 109,982 | ||||||
Williams-Sonoma, Inc. (a) | 5,369 | 377,065 | ||||||
Wyndham Destinations, Inc. | 4,358 | 192,624 | ||||||
Wyndham Hotels & Resorts, Inc. | 3,642 | 206,684 | ||||||
Wynn Resorts Ltd. | 74 | 10,977 | ||||||
Yum China Holdings, Inc. | 3,391 | 131,164 | ||||||
Yum! Brands, Inc. | 6,285 | 546,104 | ||||||
|
| |||||||
32,472,828 | ||||||||
|
| |||||||
Consumer Staples — 5.5% | ||||||||
Altria Group, Inc. | 496 | 29,026 | ||||||
Archer-Daniels-Midland Co. | 10,438 | 526,075 | ||||||
Brown-Forman Corp., Class A | 738 | 38,848 | ||||||
Brown-Forman Corp., Class B | 3,908 | 204,076 | ||||||
Bunge Ltd. | 3,536 | 229,769 | ||||||
Campbell Soup Co. (a) | 1,276 | 50,338 | ||||||
Casey’s General Stores, Inc. (a) | 1,591 | 181,645 | ||||||
Church & Dwight Co., Inc. (a) | 1,907 | 107,898 | ||||||
Clorox Co. (a) | 1,632 | 236,607 | ||||||
Coca-Cola Co. | 178 | 7,934 | ||||||
Colgate-Palmolive Co. | 1,703 | 113,096 | ||||||
Conagra Brands, Inc. | 6,234 | 229,100 | ||||||
Constellation Brands, Inc., Class A | 1,167 | 242,969 | ||||||
Costco Wholesale Corp. | 3,595 | 838,102 | ||||||
Energizer Holdings, Inc. | 1,799 | 114,398 | ||||||
Estee Lauder Cos., Inc., Class A | 2,010 | 281,641 | ||||||
Flowers Foods, Inc. (a) | 7,710 | 155,357 | ||||||
General Mills, Inc. | 3,014 | 138,674 | ||||||
Hain Celestial Group, Inc.* | 1,024 | 29,246 | ||||||
Herbalife Nutrition Ltd.* | 708 | 40,066 | ||||||
Hershey Co. | 1,727 | 173,598 | ||||||
Hormel Foods Corp. (a) | 7,329 | 286,930 | ||||||
Ingredion, Inc. | 2,984 | 301,593 | ||||||
JM Smucker Co. (a) | 2,083 | 215,341 | ||||||
Kellogg Co. (a) | 1,597 | 114,649 | ||||||
Kimberly-Clark Corp. | 1,709 | 197,458 | ||||||
Kroger Co. | 25,276 | 796,194 | ||||||
Lamb Weston Holdings, Inc. | 12,337 | 833,981 | ||||||
McCormick & Co., Inc. (a) | 321 | 40,087 | ||||||
Molson Coors Brewing Co., Class B | 1,041 | 69,476 | ||||||
Mondelez International, Inc., Class A | 1,684 | 71,941 | ||||||
Monster Beverage Corp.* | 1,171 | 71,302 | ||||||
Nu Skin Enterprises, Inc., Class A | 254 | 20,218 | ||||||
PepsiCo, Inc. | 411 | 46,036 | ||||||
Philip Morris International, Inc. | 275 | 21,420 | ||||||
Pinnacle Foods, Inc. | 1,862 | 123,674 | ||||||
Post Holdings, Inc.* | 305 | 29,664 | ||||||
Procter & Gamble Co. | 606 | 50,268 | ||||||
Seaboard Corp. | 9 | 33,163 |
Number | Value | |||||||
Consumer Staples (Continued) | ||||||||
Sprouts Farmers Market, Inc.*(a) | 3,607 | $ | 95,477 | |||||
Sysco Corp. | 11,049 | 826,686 | ||||||
Tyson Foods, Inc., Class A | 2,793 | 175,428 | ||||||
US Foods Holding Corp.* | 24,707 | 805,201 | ||||||
Walgreens Boots Alliance, Inc. | 2,433 | 166,807 | ||||||
Walmart, Inc. | 720 | 69,019 | ||||||
|
| |||||||
9,430,476 | ||||||||
|
| |||||||
Energy — 3.1% | ||||||||
Anadarko Petroleum Corp. | 564 | 36,322 | ||||||
Andeavor | 609 | 93,049 | ||||||
Antero Resources Corp.*(a) | 978 | 18,103 | ||||||
Apache Corp. (a) | 1,524 | 66,797 | ||||||
Apergy Corp.* | 1,986 | 89,807 | ||||||
Cabot Oil & Gas Corp. | 1,719 | 40,964 | ||||||
Centennial Resource Development, Inc., Class A*(a) | 1,901 | 36,632 | ||||||
Cheniere Energy, Inc.* | 591 | 39,556 | ||||||
Chevron Corp. | 592 | 70,128 | ||||||
Cimarex Energy Co. | 1,961 | 165,665 | ||||||
Concho Resources, Inc.* | 923 | 126,589 | ||||||
ConocoPhillips | 1,981 | 145,465 | ||||||
Devon Energy Corp. | 1,576 | 67,658 | ||||||
Diamondback Energy, Inc. (a) | 740 | 89,599 | ||||||
Energen Corp.* | 333 | 25,824 | ||||||
EOG Resources, Inc. | 1,355 | 160,202 | ||||||
Exxon Mobil Corp. | 403 | 32,309 | ||||||
Halliburton Co. | 3,074 | 122,622 | ||||||
Helmerich & Payne, Inc. (a) | 505 | 33,113 | ||||||
HollyFrontier Corp. | 4,154 | 309,556 | ||||||
Kinder Morgan, Inc. | 700 | 12,390 | ||||||
Marathon Petroleum Corp. | 8,937 | 735,426 | ||||||
Murphy Oil Corp. | 868 | 26,760 | ||||||
National Oilwell Varco, Inc. (a) | 1,420 | 66,839 | ||||||
Occidental Petroleum Corp. | 4,105 | 327,866 | ||||||
ONEOK, Inc. | 567 | 37,371 | ||||||
PBF Energy, Inc., Class A | 2,223 | 115,418 | ||||||
Phillips 66 | 8,290 | 982,448 | ||||||
Pioneer Natural Resources Co. | 541 | 94,513 | ||||||
Schlumberger Ltd. | 674 | 42,570 | ||||||
Valero Energy Corp. | 9,307 | 1,097,109 | ||||||
|
| |||||||
5,308,670 | ||||||||
|
| |||||||
Financials — 12.8% | ||||||||
Affiliated Managers Group, Inc. | 1,598 | 233,452 | ||||||
Aflac, Inc. | 8,006 | 370,197 | ||||||
AGNC Investment Corp. REIT | 4,669 | 88,804 | ||||||
Alleghany Corp. | 62 | 39,170 | ||||||
Allstate Corp. | 3,426 | 344,553 | ||||||
Ally Financial, Inc. | 7,926 | 213,051 | ||||||
American Express Co. | 2,219 | 235,170 | ||||||
American Financial Group, Inc. | 1,514 | 168,599 | ||||||
American National Insurance Co. | 127 | 16,299 | ||||||
Ameriprise Financial, Inc. | 937 | 133,017 | ||||||
Annaly Capital Management, Inc. REIT | 13,659 | 145,059 | ||||||
Aon PLC | 1,700 | 247,452 | ||||||
Arch Capital Group Ltd.* | 2,552 | 78,015 | ||||||
Arthur J Gallagher & Co. | 6,709 | 483,987 |
See Notes to Financial Statements. | 42 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
Financials (Continued) | ||||||||
Associated Banc-Corp. | 2,041 | $ | 55,617 | |||||
Assurant, Inc. | 631 | 64,879 | ||||||
Assured Guaranty Ltd. | 2,662 | 108,450 | ||||||
Athene Holding, Ltd., Class A* | 1,760 | 87,402 | ||||||
AXA Equitable Holdings, Inc. | 831 | 19,071 | ||||||
Bank of Hawaii Corp. (a) | 370 | 30,758 | ||||||
Bank of New York Mellon Corp. | 1,456 | 75,930 | ||||||
Bank OZK (a) | 921 | 37,264 | ||||||
BankUnited, Inc. | 4,307 | 167,069 | ||||||
BB&T Corp. | 3,183 | 164,434 | ||||||
Berkshire Hathaway, Inc., Class B* | 183 | 38,196 | ||||||
BGC Partners, Inc., Class A | 12,836 | 159,423 | ||||||
BlackRock, Inc. | 88 | 42,157 | ||||||
BOK Financial Corp. (a) | 224 | 22,971 | ||||||
Brighthouse Financial, Inc.* | 676 | 28,061 | ||||||
Brown & Brown, Inc. | 10,309 | 314,218 | ||||||
Capital One Financial Corp. | 1,922 | 190,451 | ||||||
Cboe Global Markets, Inc. | 2,678 | 269,942 | ||||||
Charles Schwab Corp. | 326 | 16,558 | ||||||
Chimera Investment Corp. REIT | 8,811 | 164,149 | ||||||
Chubb Ltd. | 666 | 90,070 | ||||||
Cincinnati Financial Corp. | 2,197 | 168,444 | ||||||
CIT Group, Inc. | 1,153 | 62,539 | ||||||
Citigroup, Inc. | 227 | 16,171 | ||||||
Citizens Financial Group, Inc. | 2,293 | 94,380 | ||||||
CME Group, Inc. | 404 | 70,591 | ||||||
CNA Financial Corp. | 357 | 16,029 | ||||||
Comerica, Inc. | 1,277 | 124,482 | ||||||
Commerce Bancshares, Inc. | 1,123 | 79,800 | ||||||
Credit Acceptance Corp.*(a) | 414 | 189,078 | ||||||
Cullen/Frost Bankers, Inc. | 622 | 68,974 | ||||||
Discover Financial Services | 6,581 | 514,108 | ||||||
E*TRADE Financial Corp.* | 1,527 | 89,879 | ||||||
East West Bancorp, Inc. | 1,291 | 81,837 | ||||||
Eaton Vance Corp. | 5,172 | 272,720 | ||||||
Erie Indemnity Co., Class A | 833 | 102,900 | ||||||
Evercore, Inc., Class A | 5,087 | 539,985 | ||||||
Everest Re Group Ltd. | 461 | 102,812 | ||||||
FactSet Research Systems, Inc. (a) | 1,255 | 287,884 | ||||||
Fidelity National Financial, Inc. | 21,394 | 857,899 | ||||||
Fifth Third Bancorp | 7,644 | 224,963 | ||||||
First American Financial Corp. | 7,593 | 431,738 | ||||||
First Citizens BancShares, Inc., Class A | 97 | 46,076 | ||||||
First Hawaiian, Inc. | 377 | 10,929 | ||||||
First Horizon National Corp. (a) | 1,747 | 32,180 | ||||||
First Republic Bank | 430 | 43,684 | ||||||
FNB Corp. (a) | 1,200 | 16,140 | ||||||
Franklin Resources, Inc. | 4,575 | 145,211 | ||||||
Goldman Sachs Group, Inc. | 73 | 17,360 | ||||||
Hanover Insurance Group, Inc. | 1,952 | 239,100 | ||||||
Hartford Financial Services Group, Inc. | 332 | 16,723 | ||||||
Huntington Bancshares, Inc. (a) | 8,944 | 144,982 | ||||||
Interactive Brokers Group, Inc., Class A | 739 | 45,936 | ||||||
Intercontinental Exchange, Inc. | 1,203 | 91,705 | ||||||
Invesco Ltd. | 3,553 | 85,627 | ||||||
Jefferies Financial Group, Inc. | 7,891 | 183,229 | ||||||
KeyCorp | 4,994 | 105,224 |
Number | Value | |||||||
Financials (Continued) | ||||||||
Lazard Ltd., Class A | 14,553 | $ | 700,581 | |||||
Legg Mason, Inc. | 2,003 | 62,494 | ||||||
Lincoln National Corp. | 669 | 43,873 | ||||||
Loews Corp. | 3,939 | 198,171 | ||||||
LPL Financial Holdings, Inc. | 3,183 | 210,842 | ||||||
M&T Bank Corp. | 859 | 152,172 | ||||||
Markel Corp.* | 37 | 44,726 | ||||||
MarketAxess Holdings, Inc. (a) | 329 | 62,451 | ||||||
Marsh & McLennan Cos., Inc. | 5,211 | 441,007 | ||||||
Mercury General Corp. | 596 | 32,124 | ||||||
MetLife, Inc. | 1,326 | 60,850 | ||||||
MFA Financial, Inc. REIT | 9,920 | 75,987 | ||||||
Moody’s Corp. | 2,159 | 384,345 | ||||||
Morgan Stanley | 598 | 29,200 | ||||||
Morningstar, Inc. | 1,620 | 230,558 | ||||||
MSCI, Inc. | 2,910 | 524,557 | ||||||
Nasdaq, Inc. | 3,434 | 327,741 | ||||||
New Residential Investment Corp. REIT | 13,040 | 242,153 | ||||||
New York Community Bancorp, Inc. (a) | 5,307 | 57,156 | ||||||
Northern Trust Corp. | 823 | 88,440 | ||||||
Old Republic International Corp. | 14,753 | 327,222 | ||||||
PacWest Bancorp | 1,121 | 56,599 | ||||||
People’s United Financial, Inc. (a) | 3,526 | 65,266 | ||||||
Pinnacle Financial Partners, Inc. | 237 | 15,298 | ||||||
PNC Financial Services Group, Inc. | 718 | 103,062 | ||||||
Popular, Inc. | 1,253 | 63,076 | ||||||
Principal Financial Group, Inc. | 1,375 | 75,886 | ||||||
Progressive Corp. | 13,989 | 944,677 | ||||||
Prosperity Bancshares, Inc. (a) | 433 | 32,406 | ||||||
Prudential Financial, Inc. | 786 | 77,225 | ||||||
Raymond James Financial, Inc. | 2,000 | 186,080 | ||||||
Regions Financial Corp. | 9,104 | 177,164 | ||||||
Reinsurance Group of America, Inc. | 1,854 | 264,844 | ||||||
S&P Global, Inc. | 2,362 | 489,052 | ||||||
Santander Consumer USA Holdings, Inc. | 971 | 20,954 | ||||||
SEI Investments Co. | 5,930 | 374,064 | ||||||
Signature Bank | 187 | 21,643 | ||||||
SLM Corp.* | 1,177 | 13,794 | ||||||
Starwood Property Trust, Inc. REIT (a) | 1,023 | 22,537 | ||||||
State Street Corp. | 1,478 | 128,453 | ||||||
Sterling Bancorp | 596 | 13,619 | ||||||
SunTrust Banks, Inc. | 2,777 | 204,276 | ||||||
SVB Financial Group* | 102 | 32,921 | ||||||
Synchrony Financial | 8,633 | 273,407 | ||||||
Synovus Financial Corp. | 1,835 | 91,860 | ||||||
T. Rowe Price Group, Inc. | 6,387 | 740,189 | ||||||
TCF Financial Corp. | 1,766 | 44,768 | ||||||
TD Ameritrade Holding Corp. | 719 | 42,112 | ||||||
Texas Capital Bancshares, Inc.* | 176 | 15,646 | ||||||
Torchmark Corp. | 13,212 | 1,161,599 | ||||||
Travelers Cos., Inc. | 1,553 | 204,375 | ||||||
Two Harbors Investment Corp. REIT | 5,228 | 81,661 | ||||||
Umpqua Holdings Corp. | 3,257 | 69,700 | ||||||
Unum Group | 1,301 | 47,981 | ||||||
US Bancorp | 805 | 43,559 | ||||||
Voya Financial, Inc. | 494 | 24,735 | ||||||
W.R. Berkley Corp. | 2,476 | 193,772 |
See Notes to Financial Statements. | 43 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
Financials (Continued) | ||||||||
Webster Financial Corp. | 988 | $ | 64,595 | |||||
Western Alliance Bancorp* | 1,041 | 60,014 | ||||||
White Mountains Insurance Group Ltd. | 305 | 283,025 | ||||||
Willis Towers Watson PLC | 630 | 92,780 | ||||||
Wintrust Financial Corp. | 686 | 60,745 | ||||||
XL Group Ltd. | 210 | 12,052 | ||||||
Zions Bancorporation (a) | 2,121 | 113,028 | ||||||
|
| |||||||
21,966,363 | ||||||||
|
| |||||||
Health Care — 9.4% | ||||||||
Abbott Laboratories | 304 | 20,319 | ||||||
AbbVie, Inc. | 1,371 | 131,589 | ||||||
ABIOMED, Inc.* | 42 | 17,076 | ||||||
Acadia Healthcare Co., Inc.*(a) | 480 | 19,934 | ||||||
Aetna, Inc. | 1,469 | 294,197 | ||||||
Agilent Technologies, Inc. | 3,465 | 234,026 | ||||||
Alexion Pharmaceuticals, Inc.* | 208 | 25,426 | ||||||
Align Technology, Inc.* | 322 | 124,450 | ||||||
AmerisourceBergen Corp. | 2,354 | 211,789 | ||||||
Amgen, Inc. | 889 | 177,631 | ||||||
Anthem, Inc. | 1,876 | 496,633 | ||||||
Baxter International, Inc. | 5,604 | 416,769 | ||||||
Becton Dickinson and Co. | 604 | 158,169 | ||||||
Biogen, Inc.* | 415 | 146,698 | ||||||
Bio-Rad Laboratories, Inc., Class A* | 183 | 59,530 | ||||||
Bio-Techne Corp. | 884 | 169,878 | ||||||
Boston Scientific Corp.* | 4,182 | 148,712 | ||||||
Bristol-Myers Squibb Co. | 2,303 | 139,447 | ||||||
Bruker Corp. | 2,068 | 73,579 | ||||||
Cantel Medical Corp. | 1,525 | 147,925 | ||||||
Cardinal Health, Inc. | 525 | 27,400 | ||||||
Catalent, Inc.* | 777 | 32,479 | ||||||
Celgene Corp.* | 221 | 20,873 | ||||||
Centene Corp.* | 7,957 | 1,165,541 | ||||||
Cerner Corp.* | 3,905 | 254,255 | ||||||
Charles River Laboratories International, Inc.* | 1,499 | 185,141 | ||||||
Chemed Corp. | 1,184 | 383,071 | ||||||
Cigna Corp. | 3,209 | 604,383 | ||||||
Cooper Cos., Inc. | 639 | 163,443 | ||||||
CVS Health Corp. | 2,899 | 218,121 | ||||||
Danaher Corp. | 1,501 | 155,414 | ||||||
DaVita, Inc.* | 1,677 | 116,199 | ||||||
Edwards Lifesciences Corp.* | 1,420 | 204,821 | ||||||
Eli Lilly & Co. | 995 | 105,122 | ||||||
Encompass Health Corp. | 5,505 | 449,153 | ||||||
Envision Healthcare Corp.* | 259 | 11,748 | ||||||
Express Scripts Holding Co.* | 9,680 | 852,034 | ||||||
Gilead Sciences, Inc. | 2,731 | 206,819 | ||||||
HCA Healthcare, Inc. | 4,691 | 629,110 | ||||||
Henry Schein, Inc.*(a) | 1,523 | 118,307 | ||||||
Hill-Rom Holdings, Inc. | 1,238 | 120,420 | ||||||
Hologic, Inc.* | 1,356 | 53,915 | ||||||
Humana, Inc. | 2,857 | 952,124 | ||||||
ICU Medical, Inc.* | 537 | 164,322 | ||||||
IDEXX Laboratories, Inc.* | 761 | 193,324 | ||||||
Illumina, Inc.* | 132 | 46,838 |
Number | Value | |||||||
Health Care (Continued) | ||||||||
Integra LifeSciences Holdings Corp.* | 454 | $ | 26,999 | |||||
Intuitive Surgical, Inc.* | 337 | 188,720 | ||||||
IQVIA Holdings, Inc.* | 1,731 | 219,993 | ||||||
Jazz Pharmaceuticals PLC* | 488 | 83,409 | ||||||
Johnson & Johnson | 178 | 23,975 | ||||||
Laboratory Corp. of America Holdings* | 2,124 | 367,176 | ||||||
Masimo Corp.* | 682 | 80,401 | ||||||
McKesson Corp. | 2,508 | 322,905 | ||||||
MEDNAX, Inc.* | 1,365 | 64,633 | ||||||
Medtronic PLC | 577 | 55,629 | ||||||
Merck & Co., Inc. | 540 | 37,039 | ||||||
Mettler-Toledo International, Inc.* | 266 | 155,466 | ||||||
Molina Healthcare, Inc.*(a) | 594 | 81,972 | ||||||
Mylan N.V.* | 1,629 | 63,743 | ||||||
PerkinElmer, Inc. (a) | 1,353 | 125,058 | ||||||
Perrigo Co. PLC (a) | 710 | 54,322 | ||||||
Pfizer, Inc. | 1,592 | 66,100 | ||||||
PRA Health Sciences, Inc.* | 142 | 14,995 | ||||||
QIAGEN NV* | 1,311 | 51,090 | ||||||
Quest Diagnostics, Inc. | 2,285 | 251,304 | ||||||
ResMed, Inc. | 2,211 | 246,327 | ||||||
STERIS PLC | 2,392 | 273,693 | ||||||
Stryker Corp. | 734 | 124,362 | ||||||
Teleflex, Inc. | 370 | 91,549 | ||||||
Thermo Fisher Scientific, Inc. | 478 | 114,290 | ||||||
United Therapeutics Corp.* | 334 | 41,079 | ||||||
UnitedHealth Group, Inc. | 386 | 103,626 | ||||||
Universal Health Services, Inc., Class B | 3,129 | 407,271 | ||||||
Varian Medical Systems, Inc.* | 2,923 | 327,434 | ||||||
Veeva Systems, Inc., Class A* | 202 | 21,081 | ||||||
Waters Corp.* | 1,194 | 226,239 | ||||||
WellCare Health Plans, Inc.* | 1,583 | 478,968 | ||||||
West Pharmaceutical Services, Inc. | 1,410 | 165,040 | ||||||
Zimmer Biomet Holdings, Inc. | 621 | 76,774 | ||||||
Zoetis, Inc. | 3,666 | 332,140 | ||||||
|
| |||||||
16,012,956 | ||||||||
|
| |||||||
Industrials — 17.1% | ||||||||
3M Co. | 327 | 68,971 | ||||||
Acuity Brands, Inc. | 108 | 16,507 | ||||||
ADT, Inc. (a) | 5,305 | 47,480 | ||||||
AECOM*(a) | 2,364 | 79,525 | ||||||
AGCO Corp. | 2,403 | 143,363 | ||||||
Air Lease Corp. (a) | 3,055 | 141,172 | ||||||
Alaska Air Group, Inc. (a) | 675 | 45,556 | ||||||
Allegion PLC (a) | 1,305 | 113,822 | ||||||
Allison Transmission Holdings, Inc. | 9,400 | 466,804 | ||||||
AMERCO (a) | 241 | 90,349 | ||||||
American Airlines Group, Inc. (a) | 1,071 | 43,354 | ||||||
AMETEK, Inc. | 3,895 | 299,759 | ||||||
AO Smith Corp. | 4,264 | 247,653 | ||||||
Armstrong World Industries, Inc.* | 640 | 44,672 | ||||||
Boeing Co. | 363 | 124,433 | ||||||
BWX Technologies, Inc. | 4,221 | 258,832 | ||||||
C.H. Robinson Worldwide, Inc. | 7,270 | 698,502 | ||||||
Carlisle Cos., Inc. | 1,801 | 228,385 | ||||||
Caterpillar, Inc. | 1,209 | 167,870 |
See Notes to Financial Statements. | 44 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
Industrials (Continued) | ||||||||
Cintas Corp. | 515 | $ | 109,886 | |||||
Clean Harbors, Inc.* | 513 | 35,187 | ||||||
Copa Holdings SA, Class A | 360 | 28,778 | ||||||
Copart, Inc.* | 9,806 | 630,624 | ||||||
CoStar Group, Inc.* | 326 | 144,144 | ||||||
Crane Co. | 2,117 | 193,240 | ||||||
CSX Corp. | 1,375 | 101,970 | ||||||
Cummins, Inc. | 2,679 | 379,882 | ||||||
Curtiss-Wright Corp. | 2,558 | 342,644 | ||||||
Deere & Co. | 1,368 | 196,718 | ||||||
Delta Air Lines, Inc. | 5,232 | 305,967 | ||||||
Donaldson Co., Inc. (a) | 3,757 | 190,104 | ||||||
Dover Corp. | 6,195 | 531,965 | ||||||
Dun & Bradstreet Corp. | 1,226 | 175,220 | ||||||
Eaton Corp. PLC | 4,294 | 357,003 | ||||||
Emerson Electric Co. | 4,290 | 329,172 | ||||||
Equifax, Inc. | 826 | 110,659 | ||||||
Expeditors International of Washington, Inc. | 8,928 | 654,244 | ||||||
Fastenal Co. | 6,949 | 405,544 | ||||||
FedEx Corp. | 1,556 | 379,586 | ||||||
Flowserve Corp. (a) | 929 | 48,419 | ||||||
Fluor Corp. | 5,170 | 296,810 | ||||||
Fortive Corp. | 2,455 | 206,171 | ||||||
Fortune Brands Home & Security, Inc. | 2,307 | 122,225 | ||||||
Gardner Denver Holdings, Inc.* | 403 | 11,268 | ||||||
Gates Industrial Corp. PLC*(a) | 723 | 13,180 | ||||||
General Dynamics Corp. | 1,263 | 244,264 | ||||||
Genesee & Wyoming, Inc., Class A*(a) | 936 | 82,265 | ||||||
Graco, Inc. | 7,719 | 362,870 | ||||||
Harris Corp. | 1,406 | 228,489 | ||||||
HD Supply Holdings, Inc.* | 9,399 | 428,500 | ||||||
HEICO Corp. (a) | 706 | 64,020 | ||||||
HEICO Corp., Class A | 1,417 | 105,567 | ||||||
Hexcel Corp. | 4,801 | 317,442 | ||||||
Honeywell International, Inc. | 662 | 105,298 | ||||||
Hubbell, Inc. | 1,068 | 134,952 | ||||||
Huntington Ingalls Industries, Inc. | 2,754 | 673,270 | ||||||
IDEX Corp. | 2,309 | 353,762 | ||||||
IHS Markit Ltd.* | 1,720 | 94,600 | ||||||
Illinois Tool Works, Inc. | 1,283 | 178,183 | ||||||
Ingersoll-Rand PLC | 3,977 | 402,830 | ||||||
ITT, Inc. | 6,765 | 399,879 | ||||||
Jacobs Engineering Group, Inc. | 6,291 | 457,293 | ||||||
JB Hunt Transport Services, Inc. | 5,968 | 720,636 | ||||||
JetBlue Airways Corp.* | 5,211 | 99,426 | ||||||
Johnson Controls International PLC | 1,704 | 64,360 | ||||||
Kansas City Southern | 2,070 | 240,037 | ||||||
KAR Auction Services, Inc. | 8,125 | 509,356 | ||||||
Kirby Corp.*(a) | 3,946 | 344,486 | ||||||
L3 Technologies, Inc. | 1,375 | 293,865 | ||||||
Landstar System, Inc. | 3,053 | 353,537 | ||||||
Lennox International, Inc. (a) | 1,054 | 234,842 | ||||||
Lincoln Electric Holdings, Inc. | 1,004 | 94,537 | ||||||
Lockheed Martin Corp. | 829 | 265,620 | ||||||
ManpowerGroup, Inc. | 665 | 62,330 | ||||||
Masco Corp. | 4,085 | 155,107 |
Number | Value | |||||||
Industrials (Continued) | ||||||||
Middleby Corp.*(a) | 353 | $ | 42,904 | |||||
MSC Industrial Direct Co., Inc., Class A | 1,738 | 148,564 | ||||||
Nielsen Holdings PLC | 2,984 | 77,584 | ||||||
Nordson Corp. | 610 | 84,802 | ||||||
Norfolk Southern Corp. | 1,770 | 307,697 | ||||||
Northrop Grumman Corp. | 701 | 209,241 | ||||||
nVent Electric PLC | 9,907 | 278,288 | ||||||
Old Dominion Freight Line, Inc. | 2,400 | 365,760 | ||||||
Oshkosh Corp. | 1,700 | 119,442 | ||||||
Owens Corning | 3,730 | 211,193 | ||||||
PACCAR, Inc. | 5,984 | 409,425 | ||||||
Parker-Hannifin Corp. | 686 | 120,462 | ||||||
Pentair PLC | 5,992 | 260,532 | ||||||
Quanta Services, Inc.* | 6,099 | 210,964 | ||||||
Raytheon Co. | 1,800 | 358,992 | ||||||
Regal Beloit Corp. | 1,176 | 98,431 | ||||||
Republic Services, Inc. | 2,911 | 213,551 | ||||||
Robert Half International, Inc. | 10,224 | 799,312 | ||||||
Rockwell Automation, Inc. | 1,722 | 311,613 | ||||||
Rockwell Collins, Inc. | 100 | 13,595 | ||||||
Rollins, Inc. (a) | 2,224 | 133,618 | ||||||
Roper Technologies, Inc. | 619 | 184,691 | ||||||
Ryder System, Inc. | 1,629 | 125,172 | ||||||
Schneider National, Inc., Class B | 5,679 | 153,617 | ||||||
Sensata Technologies Holding PLC* | 5,210 | 275,870 | ||||||
Snap-on, Inc. (a) | 2,135 | 377,425 | ||||||
Southwest Airlines Co. | 3,767 | 230,917 | ||||||
Spirit AeroSystems Holdings, Inc., Class A | 6,016 | 514,368 | ||||||
Stanley Black & Decker, Inc. | 2,280 | 320,408 | ||||||
Stericycle, Inc.*(a) | 287 | 17,705 | ||||||
Teledyne Technologies, Inc.* | 1,016 | 241,056 | ||||||
Textron, Inc. | 6,931 | 478,447 | ||||||
Timken Co. | 1,922 | 93,505 | ||||||
Toro Co. | 2,084 | 126,686 | ||||||
TransDigm Group, Inc.* | 721 | 252,350 | ||||||
TransUnion | 2,188 | 164,756 | ||||||
Trinity Industries, Inc. | 737 | 26,414 | ||||||
Union Pacific Corp. | 1,067 | 160,712 | ||||||
United Continental Holdings, Inc.* | 422 | 36,891 | ||||||
United Parcel Service, Inc., Class B | 758 | 93,143 | ||||||
United Rentals, Inc.* | 488 | 76,065 | ||||||
United Technologies Corp. | 805 | 106,019 | ||||||
Univar, Inc.* | 828 | 23,035 | ||||||
USG Corp.* | 1,815 | 78,227 | ||||||
Valmont Industries, Inc. | 507 | 71,183 | ||||||
Verisk Analytics, Inc.* | 1,438 | 171,251 | ||||||
W.W. Grainger, Inc. (a) | 1,818 | 643,699 | ||||||
WABCO Holdings, Inc.* | 2,122 | 261,176 | ||||||
Wabtec Corp. (a) | 767 | 83,081 | ||||||
Waste Management, Inc. | 6,994 | 635,755 | ||||||
Watsco, Inc. | 2,086 | 365,029 | ||||||
Welbilt, Inc.*(a) | 1,712 | 37,887 | ||||||
WESCO International, Inc.* | 905 | 55,341 | ||||||
Xylem, Inc. | 5,132 | 389,570 | ||||||
|
| |||||||
29,346,663 | ||||||||
|
|
See Notes to Financial Statements. | 45 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
Information Technology — 16.3% | ||||||||
Accenture PLC, Class A | 1,423 | $ | 240,587 | |||||
Activision Blizzard, Inc. | 1,579 | 113,846 | ||||||
Adobe Systems, Inc.* | 523 | 137,816 | ||||||
Akamai Technologies, Inc.* | 3,895 | 292,670 | ||||||
Alliance Data Systems Corp. | 310 | 73,960 | ||||||
Alphabet, Inc., Class A* | 17 | 20,941 | ||||||
Alphabet, Inc., Class C* | 24 | 29,237 | ||||||
Amdocs Ltd. | 8,590 | 560,755 | ||||||
Amphenol Corp., Class A | 3,815 | 360,823 | ||||||
ANSYS, Inc.* | 2,984 | 554,964 | ||||||
Apple, Inc. | 791 | 180,055 | ||||||
Applied Materials, Inc. | 6,330 | 272,317 | ||||||
Arista Networks, Inc.* | 107 | 31,991 | ||||||
ARRIS International PLC* | 812 | 21,039 | ||||||
Arrow Electronics, Inc.* | 1,330 | 103,115 | ||||||
Aspen Technology, Inc.* | 4,279 | 493,625 | ||||||
Automatic Data Processing, Inc. | 2,411 | 353,814 | ||||||
Black Knight, Inc.* | 988 | 52,759 | ||||||
Booz Allen Hamilton Holding Corp. | 7,666 | 392,193 | ||||||
Broadcom, Inc. | 138 | 30,226 | ||||||
Broadridge Financial Solutions, Inc. | 5,336 | 721,107 | ||||||
CA, Inc. | 11,787 | 516,271 | ||||||
Cadence Design Systems, Inc.* | 3,560 | 167,462 | ||||||
CDK Global, Inc. | 2,654 | 165,397 | ||||||
CDW Corp. | 11,181 | 979,008 | ||||||
Cisco Systems, Inc. | 2,356 | 112,546 | ||||||
Citrix Systems, Inc.* | 4,592 | 523,580 | ||||||
Cognex Corp. (a) | 1,168 | 62,838 | ||||||
Cognizant Technology Solutions Corp., Class A | 7,089 | 555,990 | ||||||
Conduent, Inc.*(a) | 6,098 | 141,352 | ||||||
CoreLogic, Inc.* | 2,208 | 112,255 | ||||||
Corning, Inc. | 2,700 | 90,477 | ||||||
Cypress Semiconductor Corp. | 2,794 | 48,085 | ||||||
Dell Technologies, Inc., Class V* | 3,456 | 332,363 | ||||||
Dolby Laboratories, Inc., Class A | 3,710 | 260,405 | ||||||
DXC Technology Co. | 401 | 36,527 | ||||||
eBay, Inc.* | 10,077 | 348,765 | ||||||
EchoStar Corp., Class A* | 308 | 14,784 | ||||||
Electronic Arts, Inc.* | 1,276 | 144,711 | ||||||
EPAM Systems, Inc.* | 2,120 | 303,012 | ||||||
Euronet Worldwide, Inc.*(a) | 685 | 66,993 | ||||||
F5 Networks, Inc.* | 4,152 | 785,226 | ||||||
Facebook, Inc., Class A* | 86 | 15,113 | ||||||
Fair Isaac Corp.* | 1,157 | 267,244 | ||||||
Fidelity National Information Services, Inc. | 1,534 | 165,933 | ||||||
First Data Corp., Class A* | 517 | 13,297 | ||||||
Fiserv, Inc.* | 3,742 | 299,622 | ||||||
FleetCor Technologies, Inc.* | 674 | 144,061 | ||||||
FLIR Systems, Inc. | 6,831 | 428,577 | ||||||
Fortinet, Inc.* | 4,430 | 371,057 | ||||||
Genpact Ltd. | 5,413 | 165,854 | ||||||
Global Payments, Inc. | 478 | 59,549 | ||||||
GoDaddy, Inc., Class A* | 385 | 31,362 | ||||||
Guidewire Software, Inc.* | 1,103 | 110,929 | ||||||
Hewlett Packard Enterprise Co. | 21,218 | 350,734 |
Number | Value | |||||||
Information Technology (Continued) | ||||||||
HP, Inc. | 31,050 | $ | 765,382 | |||||
IAC/InterActiveCorp* | 232 | 45,750 | ||||||
Intel Corp. | 2,508 | 121,462 | ||||||
International Business Machines Corp. | 953 | 139,595 | ||||||
Intuit, Inc. | 1,927 | 422,919 | ||||||
IPG Photonics Corp.* | 606 | 106,341 | ||||||
Jabil, Inc. | 5,316 | 157,141 | ||||||
Jack Henry & Associates, Inc. | 2,484 | 393,565 | ||||||
Juniper Networks, Inc. | 10,196 | 289,872 | ||||||
Keysight Technologies, Inc.* | 180 | 11,680 | ||||||
KLA-Tencor Corp. | 2,806 | 326,085 | ||||||
Lam Research Corp. | 2,299 | 397,934 | ||||||
Leidos Holdings, Inc. | 7,196 | 509,261 | ||||||
Littelfuse, Inc. | 1,013 | 226,466 | ||||||
Manhattan Associates, Inc.* | 876 | 50,799 | ||||||
Marvell Technology Group Ltd. | 10,663 | 220,511 | ||||||
Mastercard, Inc., Class A | 386 | 83,206 | ||||||
Maxim Integrated Products, Inc. | 7,498 | 453,404 | ||||||
Microchip Technology, Inc. (a) | 3,356 | 288,717 | ||||||
Micron Technology, Inc.* | 711 | 37,342 | ||||||
Microsoft Corp. | 663 | 74,475 | ||||||
MKS Instruments, Inc. | 6,653 | 618,064 | ||||||
Monolithic Power Systems, Inc. | 1,277 | 191,384 | ||||||
Motorola Solutions, Inc. | 6,959 | 893,257 | ||||||
National Instruments Corp. | 2,526 | 120,616 | ||||||
NCR Corp.*(a) | 560 | 15,910 | ||||||
NetApp, Inc. | 9,601 | 833,463 | ||||||
NVIDIA Corp. | 122 | 34,243 | ||||||
NXP Semiconductors NV* | 862 | 80,287 | ||||||
ON Semiconductor Corp.* | 9,657 | 206,080 | ||||||
Oracle Corp. | 399 | 19,383 | ||||||
Palo Alto Networks, Inc.* | 187 | 43,225 | ||||||
Paychex, Inc. | 4,266 | 312,484 | ||||||
PayPal Holdings, Inc.* | 923 | 85,221 | ||||||
Pegasystems, Inc. | 279 | 17,772 | ||||||
PTC, Inc.* | 556 | 55,567 | ||||||
Qorvo, Inc.* | 412 | 32,997 | ||||||
QUALCOMM, Inc. | 1,301 | 89,392 | ||||||
Red Hat, Inc.* | 2,613 | 386,018 | ||||||
RingCentral, Inc., Class A*(a) | 153 | 14,252 | ||||||
Sabre Corp. | 6,245 | 163,057 | ||||||
salesforce.com, Inc.* | 769 | 117,411 | ||||||
ServiceNow, Inc.* | 258 | 50,661 | ||||||
Skyworks Solutions, Inc. | 2,130 | 194,469 | ||||||
SS&C Technologies Holdings, Inc. | 2,005 | 118,977 | ||||||
Symantec Corp. | 585 | 11,794 | ||||||
Synopsys, Inc.* | 5,160 | 527,042 | ||||||
Take-Two Interactive Software, Inc.* | 1,301 | 173,762 | ||||||
Teradata Corp.* | 3,064 | 127,064 | ||||||
Teradyne, Inc. | 13,564 | 558,701 | ||||||
Texas Instruments, Inc. | 2,927 | 328,995 | ||||||
Total System Services, Inc. | 5,566 | 540,681 | ||||||
Trimble, Inc.* | 1,373 | 57,803 | ||||||
Tyler Technologies, Inc.* | 983 | 242,752 | ||||||
Ultimate Software Group, Inc.* | 420 | 130,061 | ||||||
VeriSign, Inc.* | 3,095 | 490,898 | ||||||
Versum Materials, Inc. | 6,011 | 239,178 |
See Notes to Financial Statements. | 46 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
Information Technology (Continued) | ||||||||
Visa, Inc., Class A | 588 | $ | 86,371 | |||||
VMware, Inc., Class A* | 1,865 | 285,830 | ||||||
Western Digital Corp. | 720 | 45,533 | ||||||
Western Union Co. (a) | 7,906 | 149,582 | ||||||
WEX, Inc.* | 276 | 52,501 | ||||||
Worldpay, Inc., Class A* | 1,519 | 147,935 | ||||||
Xerox Corp. | 2,864 | 79,791 | ||||||
Xilinx, Inc. | 6,222 | 484,258 | ||||||
Zebra Technologies Corp., Class A* | 494 | 84,840 | ||||||
|
| |||||||
27,890,688 | ||||||||
|
| |||||||
Materials — 5.9% | ||||||||
Air Products & Chemicals, Inc. | 1,387 | 230,644 | ||||||
Albemarle Corp. (a) | 604 | 57,694 | ||||||
Alcoa Corp.* | 734 | 32,788 | ||||||
AptarGroup, Inc. | 2,127 | 222,718 | ||||||
Ashland Global Holdings, Inc. | 732 | 61,634 | ||||||
Avery Dennison Corp. | 6,431 | 676,413 | ||||||
Axalta Coating Systems Ltd.* | 1,492 | 45,506 | ||||||
Ball Corp. | 5,577 | 233,565 | ||||||
Bemis Co., Inc. | 2,568 | 126,551 | ||||||
Berry Global Group, Inc.* | 1,111 | 53,028 | ||||||
Cabot Corp. | 4,232 | 274,741 | ||||||
Celanese Corp., Series A | 4,560 | 532,745 | ||||||
CF Industries Holdings, Inc. | 3,664 | 190,345 | ||||||
Crown Holdings, Inc.* | 1,177 | 50,387 | ||||||
Domtar Corp. | 4,855 | 247,120 | ||||||
Eagle Materials, Inc. | 1,080 | 99,716 | ||||||
Eastman Chemical Co. | 8,338 | 809,036 | ||||||
Ecolab, Inc. | 1,507 | 226,773 | ||||||
FMC Corp. | 972 | 83,057 | ||||||
Graphic Packaging Holding Co. (a) | 13,625 | 193,748 | ||||||
Huntsman Corp. | 1,015 | 30,947 | ||||||
International Flavors & Fragrances, Inc. (a) | 1,298 | 169,116 | ||||||
International Paper Co. | 3,942 | 201,594 | ||||||
LyondellBasell Industries NV, Class A | 9,916 | 1,118,327 | ||||||
Martin Marietta Materials, Inc. | 264 | 52,462 | ||||||
Mosaic Co. | 6,063 | 189,590 | ||||||
NewMarket Corp. (a) | 94 | 37,698 | ||||||
Newmont Mining Corp. | 1,712 | 53,123 | ||||||
Nucor Corp. | 8,224 | 514,000 | ||||||
Olin Corp. | 3,819 | 117,358 | ||||||
Owens-Illinois, Inc.* | 1,176 | 20,780 | ||||||
Packaging Corp. of America | 2,759 | 303,269 | ||||||
PPG Industries, Inc. | 2,940 | 324,988 | ||||||
Praxair, Inc. | 2,438 | 385,667 | ||||||
Reliance Steel & Aluminum Co. | 6,134 | 539,117 | ||||||
Royal Gold, Inc. | 122 | 9,304 | ||||||
RPM International, Inc. | 2,566 | 173,205 | ||||||
Scotts Miracle-Gro Co. (a) | 1,585 | 118,431 | ||||||
Sealed Air Corp. | 2,280 | 91,451 | ||||||
Sherwin-Williams Co. | 58 | 26,424 | ||||||
Silgan Holdings, Inc. | 757 | 20,628 | ||||||
Sonoco Products Co. (a) | 2,159 | 120,990 | ||||||
Southern Copper Corp. (a) | 737 | 32,163 | ||||||
Steel Dynamics, Inc. | 8,001 | 365,886 |
Number | Value | |||||||
Materials (Continued) | ||||||||
Valvoline, Inc. (a) | 1,821 | $ | 39,188 | |||||
Vulcan Materials Co. | 369 | 40,885 | ||||||
W.R. Grace & Co. | 2,254 | 159,268 | ||||||
Westlake Chemical Corp. | 1,510 | 142,801 | ||||||
WestRock Co. | 3,917 | 215,748 | ||||||
|
| |||||||
10,062,617 | ||||||||
|
| |||||||
Real Estate — 3.9% | ||||||||
Alexandria Real Estate Equities, Inc. REIT | 202 | 25,927 | ||||||
American Homes 4 Rent, Class A REIT | 458 | 10,626 | ||||||
American Tower Corp. REIT | 484 | 72,174 | ||||||
Apple Hospitality REIT, Inc. REIT | 5,570 | 98,310 | ||||||
AvalonBay Communities, Inc. REIT | 435 | 79,731 | ||||||
Boston Properties, Inc. REIT | 417 | 54,398 | ||||||
Brandywine Realty Trust REIT | 1,464 | 24,537 | ||||||
Brixmor Property Group, Inc. REIT | 3,303 | 60,181 | ||||||
Camden Property Trust REIT | 699 | 66,447 | ||||||
CBRE Group, Inc., Class A* | 17,197 | 839,386 | ||||||
Columbia Property Trust, Inc. REIT | 1,676 | 40,358 | ||||||
CoreSite Realty Corp. REIT | 372 | 43,327 | ||||||
Crown Castle International Corp. REIT | 302 | 34,437 | ||||||
CubeSmart REIT | 3,716 | 113,524 | ||||||
Digital Realty Trust, Inc. REIT | 168 | 20,879 | ||||||
Douglas Emmett, Inc. REIT | 554 | 21,639 | ||||||
Duke Realty Corp. REIT | 3,083 | 87,835 | ||||||
EPR Properties REIT (a) | 1,029 | 72,215 | ||||||
Equinix, Inc. REIT | 19 | 8,286 | ||||||
Equity LifeStyle Properties, Inc. REIT | 1,482 | 143,576 | ||||||
Equity Residential REIT | 864 | 58,536 | ||||||
Essex Property Trust, Inc. REIT | 214 | 52,704 | ||||||
Extra Space Storage, Inc. REIT | 3,366 | 310,379 | ||||||
Federal Realty Investment Trust REIT | 518 | 67,656 | ||||||
Gaming and Leisure Properties, Inc. REIT | 5,165 | 184,855 | ||||||
HCP, Inc. REIT | 928 | 25,084 | ||||||
Highwoods Properties, Inc. REIT | 1,381 | 68,691 | ||||||
Hospitality Properties Trust REIT | 3,360 | 97,406 | ||||||
Host Hotels & Resorts, Inc. REIT | 14,195 | 305,618 | ||||||
Howard Hughes Corp.*(a) | 153 | 19,947 | ||||||
Hudson Pacific Properties, Inc. REIT | 775 | 26,226 | ||||||
Iron Mountain, Inc. REIT (a) | 1,242 | 44,836 | ||||||
Jones Lang LaSalle, Inc. | 3,827 | 583,694 | ||||||
Kilroy Realty Corp. REIT | 460 | 33,644 | ||||||
Kimco Realty Corp. REIT | 2,260 | 38,669 | ||||||
Lamar Advertising Co., Class A REIT | 3,069 | 236,466 | ||||||
Liberty Property Trust REIT | 2,701 | 118,169 | ||||||
Life Storage, Inc. REIT | 692 | 67,539 | ||||||
Macerich Co. REIT | 490 | 28,783 | ||||||
Medical Properties Trust, Inc. REIT (a) | 7,170 | 107,908 | ||||||
Mid-America Apartment Communities, Inc. REIT | 366 | 37,903 | ||||||
National Retail Properties, Inc. REIT (a) | 2,066 | 95,222 | ||||||
Omega Healthcare Investors, Inc. REIT (a) | 730 | 24,127 | ||||||
Outfront Media, Inc. REIT | 2,455 | 48,781 | ||||||
Park Hotels & Resorts, Inc. REIT | 6,366 | 212,943 | ||||||
Prologis, Inc. REIT | 5,111 | 343,357 | ||||||
Public Storage REIT | 864 | 183,669 | ||||||
Rayonier, Inc. REIT | 5,044 | 175,683 |
See Notes to Financial Statements. | 47 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
Real Estate (Continued) | ||||||||
Realogy Holdings Corp. (a) | 1,765 | $ | 37,753 | |||||
Realty Income Corp. REIT (a) | 787 | 46,095 | ||||||
Regency Centers Corp. REIT | 482 | 31,826 | ||||||
Retail Properties of America, Inc., Class A REIT | 13,385 | 170,391 | ||||||
SBA Communications Corp. REIT* | 315 | 48,897 | ||||||
Senior Housing Properties Trust REIT | 1,233 | 23,563 | ||||||
Simon Property Group, Inc. REIT | 1,268 | 232,082 | ||||||
SL Green Realty Corp. REIT | 163 | 17,017 | ||||||
Spirit Realty Capital, Inc. REIT | 2,632 | 22,030 | ||||||
STORE Capital Corp. REIT | 1,960 | 56,468 | ||||||
Sun Communities, Inc. REIT | 368 | 37,970 | ||||||
Taubman Centers, Inc. REIT | 197 | 12,728 | ||||||
UDR, Inc. REIT | 327 | 13,070 | ||||||
Ventas, Inc. REIT | 462 | 27,660 | ||||||
Vici Properties, Inc. REIT | 1,403 | 29,337 | ||||||
Vornado Realty Trust REIT | 342 | 26,334 | ||||||
Weingarten Realty Investors REIT | 5,536 | 171,228 | ||||||
Weyerhaeuser Co. REIT | 3,352 | 116,348 | ||||||
WP Carey, Inc. REIT | 1,578 | 105,063 | ||||||
|
| |||||||
6,742,148 | ||||||||
|
| |||||||
Telecommunication Services — 0.2% | ||||||||
AT&T, Inc. | 625 | 19,962 | ||||||
CenturyLink, Inc. | 883 | 18,861 | ||||||
Telephone & Data Systems, Inc. | 2,055 | 61,732 | ||||||
T-Mobile US, Inc.* | 686 | 45,303 | ||||||
Verizon Communications, Inc. | 1,534 | 83,404 | ||||||
Zayo Group Holdings, Inc.* | 2,265 | 78,505 | ||||||
|
| |||||||
307,767 | ||||||||
|
| |||||||
Utilities — 5.6% | ||||||||
AES Corp. | 15,726 | 211,672 | ||||||
Alliant Energy Corp. | 6,220 | 266,465 | ||||||
Ameren Corp. | 7,291 | 461,010 | ||||||
American Electric Power Co., Inc. | 3,658 | 262,388 | ||||||
American Water Works Co., Inc. | 3,012 | 263,640 | ||||||
Aqua America, Inc. (a) | 3,628 | 134,889 | ||||||
Atmos Energy Corp. | 2,239 | 206,503 | ||||||
Avangrid, Inc. (a) | 1,268 | 62,563 | ||||||
CenterPoint Energy, Inc. | 11,124 | 309,136 | ||||||
CMS Energy Corp. | 5,855 | 288,300 | ||||||
Consolidated Edison, Inc. | 6,618 | 522,359 |
Number | Value | |||||||
Utilities (Continued) | ||||||||
Dominion Energy, Inc. | 1,276 | $ | 90,303 | |||||
DTE Energy Co. | 3,267 | 363,094 | ||||||
Duke Energy Corp. | 1,791 | 145,501 | ||||||
Edison International | 2,464 | 161,959 | ||||||
Entergy Corp. (a) | 5,507 | 460,330 | ||||||
Evergy, Inc. | 3,018 | 172,177 | ||||||
Eversource Energy | 4,069 | 254,028 | ||||||
Exelon Corp. | 13,921 | 608,487 | ||||||
FirstEnergy Corp. | 11,912 | 445,271 | ||||||
Hawaiian Electric Industries, Inc. (a) | 5,720 | 201,744 | ||||||
MDU Resources Group, Inc. | 6,496 | 181,173 | ||||||
National Fuel Gas Co. (a) | 2,443 | 135,660 | ||||||
NextEra Energy, Inc. | 1,175 | 199,867 | ||||||
NiSource, Inc. | 4,793 | 129,747 | ||||||
NRG Energy, Inc. | 2,120 | 75,027 | ||||||
OGE Energy Corp. | 4,525 | 166,656 | ||||||
PG&E Corp. | 1,378 | 63,636 | ||||||
Pinnacle West Capital Corp. | 2,502 | 196,532 | ||||||
PPL Corp. (a) | 2,534 | 75,361 | ||||||
Public Service Enterprise Group, Inc. | 8,837 | 462,617 | ||||||
Sempra Energy | 2,056 | 238,660 | ||||||
Southern Co. | 2,916 | 127,662 | ||||||
UGI Corp. | 5,996 | 324,084 | ||||||
Vectren Corp. | 4,088 | 291,066 | ||||||
Vistra Energy Corp.* | 19,746 | 464,821 | ||||||
WEC Energy Group, Inc. | 4,593 | 310,395 | ||||||
Xcel Energy, Inc. | 6,763 | 324,962 | ||||||
|
| |||||||
9,659,745 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 169,200,921 | |||||||
|
| |||||||
SECURITIES LENDING COLLATERAL — 0.0% |
| |||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 1.85% (b)(c) | 64,770 | 64,770 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 98.8% (Cost $152,481,915) | $ | 169,265,691 | ||||||
Other assets and liabilities, net — 1.2% | 2,072,987 | |||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 171,338,678 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the year ended August 31, 2018 is as follows:
Value ($) at | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 8/31/2018 | Value ($) at 8/31/2018 | ||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 0.0% |
| |||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 1.85% (b)(c) |
| |||||||||||||||||||||||||||||||
1,722,761 | — | (1,657,991) | — | — | 13,173 | — | 64,770 | 64,770 |
* | 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, 2018 amounted to $10,196,709, which is 6.0% of net assets. |
See Notes to Financial Statements. | 48 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 Comprehensive Factor ETF (Continued)
August 31, 2018
(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. Represents the net increase (purchases cost) or decrease (sales proceeds) in the amount invested in cash collateral for the year ended August 31, 2018. In addition, the Fund held non-cash U.S. Treasury securities collateral having a value of $10,338,863. |
REIT: | Real Estate Investment Trust |
At August 31, 2018, open futures contracts purchased were as follows:
Contract Description | Currency | Number of Contracts | Notional Amount | Contract Value | Expiration Date | Unrealized Appreciation | ||||||||||||||||||
E-Mini S&P 500 Futures | USD | 7 | $ | 977,622 | $ | 1,015,735 | 9/21/2018 | $ | 38,113 | |||||||||||||||
E-Mini S&P MidCap 400 Futures | USD | 5 | 1,007,810 | 1,022,800 | 9/21/2018 | 14,990 | ||||||||||||||||||
|
| |||||||||||||||||||||||
Total net unrealized appreciation | $ | 53,103 | ||||||||||||||||||||||
|
|
Currency Abbreviations
USD | U.S. Dollar |
For information on the Fund’s policy and additional disclosures regarding open futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
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, 2018 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 (d) | $ | 169,200,921 | $ | — | $ | — | $ | 169,200,921 | ||||||||
Short-Term Investments | 64,770 | — | — | 64,770 | ||||||||||||
Derivatives (e) | ||||||||||||||||
Futures Contracts | 53,103 | — | — | 53,103 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 169,318,794 | $ | — | $ | — | $ | 169,318,794 | ||||||||
|
|
|
|
|
|
|
|
(d) | See Schedule of Investments for additional detailed categorizations. |
(e) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
There have been no transfers between fair value measurement levels during year ended August 31, 2018.
See Notes to Financial Statements. | 49 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 US QARP ETF
August 31, 2018
Number | Value | |||||||
COMMON STOCKS — 99.8% | ||||||||
Consumer Discretionary — 16.2% | ||||||||
Advance Auto Parts, Inc. | 266 | $ | 43,632 | |||||
Aptiv PLC | 509 | 44,797 | ||||||
AutoZone, Inc.* | 121 | 92,792 | ||||||
Best Buy Co., Inc. | 3,653 | 290,633 | ||||||
Booking Holdings, Inc.* | 97 | 189,300 | ||||||
BorgWarner, Inc. | 1,269 | 55,544 | ||||||
Brunswick Corp. | 715 | 47,490 | ||||||
Burlington Stores, Inc.* | 304 | 51,127 | ||||||
Carnival Corp. | 2,202 | 135,401 | ||||||
Carter’s, Inc. | 309 | 32,732 | ||||||
Charter Communications, Inc., Class A* | 376 | 116,710 | ||||||
Chipotle Mexican Grill, Inc.* | 88 | 41,816 | ||||||
Comcast Corp., Class A | 10,613 | 392,575 | ||||||
D.R. Horton, Inc. | 766 | 34,095 | ||||||
Darden Restaurants, Inc. | 761 | 88,306 | ||||||
Dick’s Sporting Goods, Inc. (a) | 1,129 | 42,270 | ||||||
Dollar General Corp. | 1,888 | 203,394 | ||||||
Dollar Tree, Inc.* | 840 | 67,628 | ||||||
Domino’s Pizza, Inc. | 127 | 37,917 | ||||||
Expedia Group, Inc. (a) | 308 | 40,194 | ||||||
Foot Locker, Inc. | 1,446 | 71,288 | ||||||
Gap, Inc. | 3,018 | 91,596 | ||||||
Garmin Ltd. | 696 | 47,425 | ||||||
GCI Liberty, Inc., Class A* | 301 | 14,773 | ||||||
Gentex Corp. | 2,497 | 58,380 | ||||||
Genuine Parts Co. | 359 | 35,846 | ||||||
Grand Canyon Education, Inc.* | 164 | 19,539 | ||||||
H&R Block, Inc. (a) | 1,030 | 27,872 | ||||||
Hanesbrands, Inc. (a) | 1,675 | 29,380 | ||||||
Hasbro, Inc. | 682 | 67,729 | ||||||
Home Depot, Inc. | 7,411 | 1,487,906 | ||||||
Interpublic Group of Companies, Inc. | 2,103 | 49,105 | ||||||
John Wiley & Sons, Inc., Class A | 169 | 10,909 | ||||||
Kohl’s Corp. (a) | 1,178 | 93,192 | ||||||
L Brands, Inc. | 1,269 | 33,540 | ||||||
Las Vegas Sands Corp. | 1,362 | 89,102 | ||||||
Lear Corp. | 723 | 117,271 | ||||||
Leggett & Platt, Inc. (a) | 556 | 25,265 | ||||||
Liberty Broadband Corp., Class A* | 282 | 22,842 | ||||||
Liberty Broadband Corp., Class C* | 1,309 | 106,147 | ||||||
Live Nation Entertainment, Inc.*(a) | 282 | 14,010 | ||||||
Lowe’s Cos., Inc. | 4,261 | 463,384 | ||||||
Lululemon Athletica, Inc.* | 397 | 61,507 | ||||||
Macy’s, Inc. | 1,129 | 41,265 | ||||||
McDonald’s Corp. | 715 | 115,994 | ||||||
Michael Kors Holdings Ltd.* | 1,396 | 101,378 | ||||||
NIKE, Inc., Class B | 6,416 | 527,395 | ||||||
Nordstrom, Inc. (a) | 1,070 | 67,250 | ||||||
NVR, Inc.* | 25 | 66,711 | ||||||
Omnicom Group, Inc. | 1,025 | 71,053 | ||||||
O’Reilly Automotive, Inc.* | 503 | 168,716 | ||||||
Polaris Industries, Inc. (a) | 443 | 48,043 | ||||||
Pool Corp. (a) | 153 | 25,132 | ||||||
PulteGroup, Inc. | 1,315 | 36,754 | ||||||
Ralph Lauren Corp. | 486 | 64,546 | ||||||
Ross Stores, Inc. | 2,874 | 275,272 |
Number | Value | |||||||
Consumer Discretionary (Continued) | ||||||||
Royal Caribbean Cruises Ltd. | 515 | $ | 63,129 | |||||
Skechers U.S.A., Inc., Class A*(a) | 1,232 | 36,319 | ||||||
Starbucks Corp. | 7,101 | 379,548 | ||||||
Tapestry, Inc. | 1,700 | 86,173 | ||||||
Target Corp. | 4,427 | 387,363 | ||||||
Thor Industries, Inc. (a) | 661 | 63,086 | ||||||
Tiffany & Co. | 512 | 62,797 | ||||||
TJX Cos., Inc. | 4,961 | 545,561 | ||||||
Toll Brothers, Inc. | 663 | 24,020 | ||||||
Tractor Supply Co. | 1,231 | 108,673 | ||||||
Ulta Beauty, Inc.* | 315 | 81,900 | ||||||
Urban Outfitters, Inc.* | 745 | 34,628 | ||||||
VF Corp. | 1,468 | 135,247 | ||||||
Viacom, Inc., Class B | 822 | 24,068 | ||||||
Visteon Corp.*(a) | 269 | 29,695 | ||||||
Walt Disney Co. | 7,596 | 850,904 | ||||||
Whirlpool Corp. | 308 | 38,494 | ||||||
Williams-Sonoma, Inc. | 995 | 69,879 | ||||||
Wyndham Hotels & Resorts, Inc. | 379 | 21,508 | ||||||
Yum China Holdings, Inc. | 1,687 | 65,253 | ||||||
Yum! Brands, Inc. | 1,600 | 139,024 | ||||||
|
| |||||||
9,943,139 | ||||||||
|
| |||||||
Consumer Staples — 11.1% | ||||||||
Altria Group, Inc. | 4,655 | 272,411 | ||||||
Archer-Daniels-Midland Co. | 1,286 | 64,814 | ||||||
Bunge Ltd. | 676 | 43,926 | ||||||
Campbell Soup Co. (a) | 1,139 | 44,934 | ||||||
Clorox Co. (a) | 423 | 61,327 | ||||||
Colgate-Palmolive Co. | 3,687 | 244,854 | ||||||
Costco Wholesale Corp. | 4,641 | 1,081,956 | ||||||
Estee Lauder Cos., Inc., Class A | 250 | 35,030 | ||||||
Flowers Foods, Inc. (a) | 976 | 19,666 | ||||||
General Mills, Inc. | 1,919 | 88,293 | ||||||
Herbalife Nutrition Ltd.* | 458 | 25,918 | ||||||
Hershey Co. | 592 | 59,508 | ||||||
Hormel Foods Corp. (a) | 1,621 | 63,462 | ||||||
Ingredion, Inc. | 277 | 27,996 | ||||||
JM Smucker Co. (a) | 359 | 37,113 | ||||||
Kimberly-Clark Corp. | 1,675 | 193,530 | ||||||
Kroger Co. | 4,246 | 133,749 | ||||||
Lamb Weston Holdings, Inc. | 634 | 42,858 | ||||||
Molson Coors Brewing Co., Class B | 669 | 44,649 | ||||||
Monster Beverage Corp.* | 1,298 | 79,035 | ||||||
Nu Skin Enterprises, Inc., Class A | 397 | 31,601 | ||||||
PepsiCo, Inc. | 3,363 | 376,690 | ||||||
Philip Morris International, Inc. | 6,988 | 544,295 | ||||||
Procter & Gamble Co. | 14,774 | 1,225,503 | ||||||
Sprouts Farmers Market, Inc.* | 1,617 | 42,802 | ||||||
Sysco Corp. | 2,157 | 161,387 | ||||||
Tyson Foods, Inc., Class A | 312 | 19,597 | ||||||
US Foods Holding Corp.* | 723 | 23,563 | ||||||
Walgreens Boots Alliance, Inc. | 7,366 | 505,013 | ||||||
Walmart, Inc. | 13,017 | 1,247,810 | ||||||
|
| |||||||
6,843,290 | ||||||||
|
| |||||||
Energy — 7.5% | ||||||||
Antero Resources Corp.*(a) | 1,207 | 22,342 | ||||||
Apache Corp. (a) | 1,713 | 75,081 |
See Notes to Financial Statements. | 50 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 US QARP ETF (Continued)
August 31, 2018
Number | Value | |||||||
Energy (Continued) | ||||||||
Baker Hughes a GE Co. (a) | 349 | $ | 11,507 | |||||
Chevron Corp. | 7,680 | 909,773 | ||||||
Cimarex Energy Co. | 548 | 46,295 | ||||||
Concho Resources, Inc.* | 296 | 40,596 | ||||||
Exxon Mobil Corp. | 25,091 | 2,011,545 | ||||||
HollyFrontier Corp. | 800 | 59,616 | ||||||
Marathon Petroleum Corp. | 3,888 | 319,944 | ||||||
Newfield Exploration Co.* | 508 | 13,858 | ||||||
Occidental Petroleum Corp. | 1,834 | 146,482 | ||||||
PBF Energy, Inc., Class A | 969 | 50,310 | ||||||
Phillips 66 | 2,957 | 350,434 | ||||||
Valero Energy Corp. | 4,747 | 559,576 | ||||||
|
| |||||||
4,617,359 | ||||||||
|
| |||||||
Financials — 4.3% | ||||||||
Affiliated Managers Group, Inc. | 461 | 67,348 | ||||||
Aon PLC | 223 | 32,460 | ||||||
Assured Guaranty Ltd. | 1,488 | 60,621 | ||||||
Berkshire Hathaway, Inc., Class B* | 278 | 58,024 | ||||||
BGC Partners, Inc., Class A | 1,118 | 13,886 | ||||||
Cboe Global Markets, Inc. | 125 | 12,600 | ||||||
Credit Acceptance Corp.* | 206 | 94,082 | ||||||
Eaton Vance Corp. | 961 | 50,674 | ||||||
Erie Indemnity Co., Class A | 283 | 34,959 | ||||||
Evercore, Inc., Class A | 703 | 74,623 | ||||||
Everest Re Group Ltd. | 74 | 16,503 | ||||||
Fidelity National Financial, Inc. | 2,116 | 84,852 | ||||||
Franklin Resources, Inc. (a) | 5,848 | 185,616 | ||||||
Jefferies Financial Group, Inc. | 883 | 20,503 | ||||||
Lazard Ltd., Class A | 3,232 | 155,588 | ||||||
Marsh & McLennan Cos., Inc. | 5,769 | 488,230 | ||||||
Moody’s Corp. | 757 | 134,761 | ||||||
MSCI, Inc. | 461 | 83,100 | ||||||
Progressive Corp. | 216 | 14,587 | ||||||
S&P Global, Inc. | 2,011 | 416,378 | ||||||
SEI Investments Co. | 1,168 | 73,677 | ||||||
T. Rowe Price Group, Inc. | 1,978 | 229,230 | ||||||
Torchmark Corp. | 2,292 | 201,513 | ||||||
White Mountains Insurance Group Ltd. | 43 | 39,902 | ||||||
|
| |||||||
2,643,717 | ||||||||
|
| |||||||
Health Care — 15.3% | ||||||||
Abbott Laboratories | 197 | 13,167 | ||||||
AbbVie, Inc. | 4,944 | 474,525 | ||||||
Aetna, Inc. | 131 | 26,235 | ||||||
Agilent Technologies, Inc. | 217 | 14,656 | ||||||
Align Technology, Inc.* | 49 | 18,938 | ||||||
Allergan PLC | 181 | 34,700 | ||||||
AmerisourceBergen Corp. | 483 | 43,456 | ||||||
Amgen, Inc. | 3,143 | 628,003 | ||||||
Anthem, Inc. | 246 | 65,124 | ||||||
Baxter International, Inc. | 2,517 | 187,189 | ||||||
Biogen, Inc.* | 1,459 | 515,742 | ||||||
Bristol-Myers Squibb Co. | 8,946 | 541,680 | ||||||
Cardinal Health, Inc. | 539 | 28,130 | ||||||
Celgene Corp.* | 3,588 | 338,887 | ||||||
Centene Corp.* | 1,608 | 235,540 |
Number | Value | |||||||
Health Care (Continued) | ||||||||
Cerner Corp.* | 1,177 | $ | 76,634 | |||||
Chemed Corp. | 38 | 12,295 | ||||||
Cigna Corp. | 2,082 | 392,124 | ||||||
CVS Health Corp. | 6,250 | 470,250 | ||||||
Edwards Lifesciences Corp.* | 666 | 96,064 | ||||||
Eli Lilly & Co. | 628 | 66,348 | ||||||
Exelixis, Inc.* | 639 | 12,007 | ||||||
Express Scripts Holding Co.* | 2,933 | 258,163 | ||||||
Gilead Sciences, Inc. | 8,913 | 674,981 | ||||||
HCA Healthcare, Inc. | 916 | 122,845 | ||||||
Henry Schein, Inc.*(a) | 215 | 16,701 | ||||||
Humana, Inc. | 936 | 311,931 | ||||||
Johnson & Johnson | 14,954 | 2,014,154 | ||||||
McKesson Corp. | 1,786 | 229,948 | ||||||
Merck & Co., Inc. | 279 | 19,137 | ||||||
Mettler-Toledo International, Inc.* | 79 | 46,172 | ||||||
Pfizer, Inc. | 3,950 | 164,004 | ||||||
Regeneron Pharmaceuticals, Inc.* | 271 | 110,229 | ||||||
United Therapeutics Corp.* | 484 | 59,527 | ||||||
UnitedHealth Group, Inc. | 3,432 | 921,355 | ||||||
Universal Health Services, Inc., Class B | 410 | 53,366 | ||||||
Varian Medical Systems, Inc.* | 364 | 40,775 | ||||||
West Pharmaceutical Services, Inc. | 268 | 31,369 | ||||||
|
| |||||||
9,366,351 | ||||||||
|
| |||||||
Industrials — 12.5% | ||||||||
3M Co. | 2,323 | 489,967 | ||||||
Acuity Brands, Inc. | 362 | 55,328 | ||||||
AGCO Corp. | 191 | 11,395 | ||||||
Alaska Air Group, Inc. (a) | 1,108 | 74,779 | ||||||
Allison Transmission Holdings, Inc. | 680 | 33,769 | ||||||
American Airlines Group, Inc. (a) | 1,538 | 62,258 | ||||||
AO Smith Corp. | 652 | 37,868 | ||||||
Boeing Co. | 4,277 | 1,466,113 | ||||||
C.H. Robinson Worldwide, Inc. | 409 | 39,297 | ||||||
Cintas Corp. | 94 | 20,057 | ||||||
Copa Holdings SA, Class A | 244 | 19,505 | ||||||
Copart, Inc.* | 611 | 39,293 | ||||||
Crane Co. | 142 | 12,962 | ||||||
Cummins, Inc. | 1,793 | 254,247 | ||||||
Curtiss-Wright Corp. | 93 | 12,457 | ||||||
Delta Air Lines, Inc. | 5,608 | 327,956 | ||||||
Donaldson Co., Inc. (a) | 512 | 25,907 | ||||||
Dover Corp. | 457 | 39,243 | ||||||
Eaton Corp. PLC | 1,539 | 127,952 | ||||||
Emerson Electric Co. | 1,620 | 124,303 | ||||||
Equifax, Inc. | 886 | 118,697 | ||||||
Expeditors International of Washington, Inc. | 1,090 | 79,875 | ||||||
Fastenal Co. | 1,453 | 84,797 | ||||||
FedEx Corp. | 1,229 | 299,815 | ||||||
Fluor Corp. | 436 | 25,031 | ||||||
Fortive Corp. | 308 | 25,866 | ||||||
Fortune Brands Home & Security, Inc. | 667 | 35,338 | ||||||
General Dynamics Corp. | 1,750 | 338,450 | ||||||
Graco, Inc. | 861 | 40,476 | ||||||
HD Supply Holdings, Inc.* | 734 | 33,463 |
See Notes to Financial Statements. | 51 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 US QARP ETF (Continued)
August 31, 2018
Number | Value | |||||||
Industrials (Continued) | ||||||||
Honeywell International, Inc. | 461 | $ | 73,327 | |||||
Hubbell, Inc. | 202 | 25,525 | ||||||
Huntington Ingalls Industries, Inc. | 335 | 81,897 | ||||||
Illinois Tool Works, Inc. | 1,135 | 157,629 | ||||||
Ingersoll-Rand PLC | 1,323 | 134,007 | ||||||
ITT, Inc. | 727 | 42,973 | ||||||
Jacobs Engineering Group, Inc. | 1,115 | 81,049 | ||||||
JB Hunt Transport Services, Inc. | 587 | 70,880 | ||||||
JetBlue Airways Corp.* | 4,068 | 77,617 | ||||||
Kansas City Southern | 232 | 26,903 | ||||||
Kirby Corp.*(a) | 206 | 17,984 | ||||||
L3 Technologies, Inc. | 60 | 12,823 | ||||||
Landstar System, Inc. | 207 | 23,971 | ||||||
Lennox International, Inc. (a) | 134 | 29,857 | ||||||
Lockheed Martin Corp. | 1,584 | 507,529 | ||||||
ManpowerGroup, Inc. | 185 | 17,340 | ||||||
MSC Industrial Direct Co., Inc., Class A | 209 | 17,865 | ||||||
Northrop Grumman Corp. | 183 | 54,624 | ||||||
nVent Electric PLC | 955 | 26,826 | ||||||
Old Dominion Freight Line, Inc. | 302 | 46,025 | ||||||
Oshkosh Corp. | 176 | 12,366 | ||||||
Owens Corning | 616 | 34,878 | ||||||
PACCAR, Inc. | 1,207 | 82,583 | ||||||
Parker-Hannifin Corp. | 125 | 21,950 | ||||||
Pentair PLC | 751 | 32,653 | ||||||
Quanta Services, Inc.* | 1,226 | 42,407 | ||||||
Raytheon Co. | 1,123 | 223,971 | ||||||
Robert Half International, Inc. | 1,071 | 83,731 | ||||||
Rockwell Automation, Inc. | 359 | 64,965 | ||||||
Snap-on, Inc. (a) | 307 | 54,271 | ||||||
Southwest Airlines Co. | 5,706 | 349,778 | ||||||
Spirit AeroSystems Holdings, Inc., Class A | 722 | 61,731 | ||||||
Stanley Black & Decker, Inc. | 116 | 16,301 | ||||||
Terex Corp. (a) | 492 | 19,065 | ||||||
Toro Co. | 667 | 40,547 | ||||||
Union Pacific Corp. | 815 | 122,755 | ||||||
United Continental Holdings, Inc.* | 906 | 79,203 | ||||||
United Parcel Service, Inc., Class B | 886 | 108,872 | ||||||
United Technologies Corp. | 167 | 21,994 | ||||||
W.W. Grainger, Inc. | 293 | 103,743 | ||||||
WABCO Holdings, Inc.* | 186 | 22,893 | ||||||
Waste Management, Inc. | 1,908 | 173,437 | ||||||
Watsco, Inc. | 155 | 27,123 | ||||||
XPO Logistics, Inc.* | 177 | 18,850 | ||||||
|
| |||||||
7,703,182 | ||||||||
|
| |||||||
Information Technology — 26.3% | ||||||||
Accenture PLC, Class A | 3,598 | 608,314 | ||||||
Akamai Technologies, Inc.* | 645 | 48,465 | ||||||
Alliance Data Systems Corp. | 99 | 23,619 | ||||||
Alphabet, Inc., Class A* | 968 | 1,192,382 | ||||||
Alphabet, Inc., Class C* | 1,002 | 1,220,626 | ||||||
Amdocs Ltd. | 818 | 53,399 | ||||||
Apple, Inc. | 14,889 | 3,389,183 | ||||||
Applied Materials, Inc. | 5,853 | 251,796 | ||||||
Arista Networks, Inc.* | 121 | 36,177 |
Number | Value | |||||||
Information Technology (Continued) | ||||||||
Aspen Technology, Inc.* | 156 | $ | 17,996 | |||||
Automatic Data Processing, Inc. | 1,732 | 254,171 | ||||||
Booz Allen Hamilton Holding Corp. | 358 | 18,315 | ||||||
Broadridge Financial Solutions, Inc. | 461 | 62,299 | ||||||
CDW Corp. | 475 | 41,591 | ||||||
Cisco Systems, Inc. | 2,717 | 129,791 | ||||||
Citrix Systems, Inc.* | 465 | 53,019 | ||||||
Cognex Corp. | 465 | 25,017 | ||||||
Cognizant Technology Solutions Corp., Class A | 3,280 | 257,250 | ||||||
Coherent, Inc.*(a) | 110 | 20,966 | ||||||
Corning, Inc. | 2,380 | 79,754 | ||||||
Dolby Laboratories, Inc., Class A | 257 | 18,039 | ||||||
eBay, Inc.* | 5,342 | 184,887 | ||||||
Electronic Arts, Inc.* | 1,179 | 133,710 | ||||||
EPAM Systems, Inc.* | 103 | 14,722 | ||||||
Euronet Worldwide, Inc.*(a) | 172 | 16,822 | ||||||
F5 Networks, Inc.* | 392 | 74,135 | ||||||
Facebook, Inc., Class A* | 5,855 | 1,028,899 | ||||||
First Solar, Inc.* | 763 | 39,737 | ||||||
FLIR Systems, Inc. | 454 | 28,484 | ||||||
Fortinet, Inc.* | 448 | 37,524 | ||||||
Hewlett Packard Enterprise Co. | 1,071 | 17,704 | ||||||
HP, Inc. | 9,364 | 230,823 | ||||||
Intel Corp. | 27,169 | 1,315,795 | ||||||
International Business Machines Corp. | 2,341 | 342,910 | ||||||
Intuit, Inc. | 759 | 166,578 | ||||||
IPG Photonics Corp.* | 121 | 21,233 | ||||||
Jabil, Inc. | 1,168 | 34,526 | ||||||
Jack Henry & Associates, Inc. (a) | 290 | 45,948 | ||||||
Juniper Networks, Inc. | 1,649 | 46,881 | ||||||
Lam Research Corp. | 498 | 86,199 | ||||||
Leidos Holdings, Inc. | 380 | 26,893 | ||||||
Littelfuse, Inc. | 59 | 13,190 | ||||||
Manhattan Associates, Inc.* | 308 | 17,861 | ||||||
Marvell Technology Group Ltd. | 1,657 | 34,267 | ||||||
Mastercard, Inc., Class A | 5,206 | 1,122,205 | ||||||
Micron Technology, Inc.* | 7,362 | 386,652 | ||||||
Microsoft Corp. | 1,715 | 192,646 | ||||||
MKS Instruments, Inc. | 289 | 26,848 | ||||||
National Instruments Corp. | 308 | 14,707 | ||||||
NetApp, Inc. | 1,216 | 105,561 | ||||||
Paychex, Inc. | 1,340 | 98,155 | ||||||
PayPal Holdings, Inc.* | 825 | 76,172 | ||||||
Qorvo, Inc.* | 410 | 32,837 | ||||||
QUALCOMM, Inc. | 1,576 | 108,287 | ||||||
Red Hat, Inc.* | 121 | 17,875 | ||||||
Skyworks Solutions, Inc. | 1,319 | 120,425 | ||||||
Teradyne, Inc. | 1,390 | 57,254 | ||||||
Texas Instruments, Inc. | 4,659 | 523,672 | ||||||
Versum Materials, Inc. | 514 | 20,452 | ||||||
Visa, Inc., Class A | 9,080 | 1,333,761 | ||||||
VMware, Inc., Class A* | 241 | 36,936 | ||||||
Xilinx, Inc. | 1,099 | 85,535 | ||||||
|
| |||||||
16,121,877 | ||||||||
|
|
See Notes to Financial Statements. | 52 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 US QARP ETF (Continued)
August 31, 2018
Number | Value | |||||||
Materials — 2.3% | ||||||||
Air Products & Chemicals, Inc. | 164 | $ | 27,271 | |||||
Alcoa Corp.* | 1,900 | 84,873 | ||||||
Avery Dennison Corp. | 311 | 32,711 | ||||||
Ball Corp. (a) | 752 | 31,494 | ||||||
Cabot Corp. | 253 | 16,425 | ||||||
Celanese Corp., Series A | 404 | 47,199 | ||||||
CF Industries Holdings, Inc. | 601 | 31,222 | ||||||
Chemours Co. | 490 | 21,364 | ||||||
DowDuPont, Inc. | 367 | 25,738 | ||||||
Eagle Materials, Inc. | 123 | 11,357 | ||||||
Eastman Chemical Co. | 385 | 37,356 | ||||||
Freeport-McMoRan, Inc. | 6,232 | 87,560 | ||||||
LyondellBasell Industries NV, Class A | 4,337 | 489,127 | ||||||
Newmont Mining Corp. | 2,469 | 76,613 | ||||||
Nucor Corp. | 1,596 | 99,750 | ||||||
Packaging Corp. of America | 277 | 30,448 | ||||||
PPG Industries, Inc. | 870 | 96,170 | ||||||
Reliance Steel & Aluminum Co. | 220 | 19,336 | ||||||
Sherwin-Williams Co. | 76 | 34,624 | ||||||
Steel Dynamics, Inc. | 1,498 | 68,503 | ||||||
United States Steel Corp. | 684 | 20,301 | ||||||
Westlake Chemical Corp. (a) | 139 | 13,145 | ||||||
WestRock Co. | 747 | 41,145 | ||||||
|
| |||||||
1,443,732 | ||||||||
|
| |||||||
Real Estate — 1.7% | ||||||||
CBRE Group, Inc., Class A* | 3,634 | 177,375 | ||||||
Equity Residential REIT | 1,537 | 104,132 | ||||||
Host Hotels & Resorts, Inc. REIT | 1,455 | 31,326 | ||||||
Jones Lang LaSalle, Inc. | 359 | 54,755 | ||||||
Lamar Advertising Co., Class A REIT | 718 | 55,322 | ||||||
Public Storage REIT | 1,177 | 250,207 | ||||||
Realogy Holdings Corp. | 485 | 10,374 | ||||||
Retail Properties of America, Inc., Class A REIT | 1,647 | 20,966 | ||||||
Simon Property Group, Inc. REIT | 1,489 | 272,532 | ||||||
Weingarten Realty Investors REIT | 1,329 | 41,106 | ||||||
|
| |||||||
1,018,095 | ||||||||
|
|
Number | Value | |||||||
Telecommunication Services — 0.8% | ||||||||
AT&T, Inc. | 8,108 | $ | 258,969 | |||||
Verizon Communications, Inc. | 4,159 | 226,125 | ||||||
|
| |||||||
485,094 | ||||||||
|
| |||||||
Utilities — 1.8% | ||||||||
Ameren Corp. | 821 | 51,912 | ||||||
American Electric Power Co., Inc. | 1,090 | 78,186 | ||||||
CenterPoint Energy, Inc. | 1,588 | 44,131 | ||||||
Consolidated Edison, Inc. | 1,980 | 156,281 | ||||||
DTE Energy Co. | 523 | 58,126 | ||||||
Edison International | 1,421 | 93,402 | ||||||
Entergy Corp. (a) | 513 | 42,882 | ||||||
Exelon Corp. | 3,823 | 167,103 | ||||||
MDU Resources Group, Inc. | 460 | 12,829 | ||||||
National Fuel Gas Co. | 275 | 15,271 | ||||||
NRG Energy, Inc. | 1,209 | 42,787 | ||||||
PG&E Corp. | 1,980 | 91,436 | ||||||
Pinnacle West Capital Corp. | 261 | 20,502 | ||||||
Public Service Enterprise Group, Inc. | 428 | 22,406 | ||||||
SCANA Corp. | 341 | 13,074 | ||||||
Sempra Energy | 552 | 64,076 | ||||||
UGI Corp. | 469 | 25,349 | ||||||
Vistra Energy Corp.* | 1,116 | 26,271 | ||||||
Xcel Energy, Inc. | 1,157 | 55,594 | ||||||
|
| |||||||
1,081,618 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 61,267,454 | |||||||
|
| |||||||
TOTAL INVESTMENTS — 99.8% (Cost $57,298,231) | $ | 61,267,454 | ||||||
Other assets and liabilities, net — 0.2% | 146,316 | |||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 61,413,770 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the period ended August 31, 2018 is as follows:
Value ($) at | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 8/31/18 | Value ($) at 8/31/18 | ||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 0.0% |
| |||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 1.85% (b)(c) |
| |||||||||||||||||||||||||||||||
— | — | — | — | — | 499 | — | — | — |
* | 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, 2018 amounted to $1,363,976, which is 2.2% of net assets. The Fund held non-cash U.S. Treasury securities collateral having a value of $1,395,789. |
(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. |
REIT: | Real Estate Investment Trust |
See Notes to Financial Statements. | 53 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 US QARP ETF (Continued)
August 31, 2018
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, 2018 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 (d) | $ | 61,267,454 | $ | — | $ | — | $ | 61,267,454 | ||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 61,267,454 | $ | — | $ | — | $ | 61,267,454 | ||||||||
|
|
|
|
|
|
|
|
(d) | See Schedule of Investments for additional detailed categorizations. |
There have been no transfers between fair value measurement levels during the period ended August 31, 2018.
See Notes to Financial Statements. | 54 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 2000 Comprehensive Factor ETF
August 31, 2018
Number | Value | |||||||
COMMON STOCKS — 98.9% | ||||||||
Consumer Discretionary — 17.1% | ||||||||
1-800-Flowers.com, Inc., Class A* | 717 | $ | 8,640 | |||||
Aaron’s, Inc. | 136 | 6,762 | ||||||
Abercrombie & Fitch Co., Class A (a) | 981 | 21,258 | ||||||
Acushnet Holdings Corp. | 119 | 3,219 | ||||||
Adtalem Global Education, Inc.*(a) | 187 | 8,948 | ||||||
AMC Entertainment Holdings, Inc., Class A (a) | 196 | 3,734 | ||||||
American Axle & Manufacturing Holdings, Inc.*(a) | 9 | 159 | ||||||
American Eagle Outfitters, Inc. | 674 | 17,497 | ||||||
American Outdoor Brands Corp.* | 101 | 1,417 | ||||||
American Public Education, Inc.* | 339 | 11,780 | ||||||
America’s Car-Mart, Inc.* | 155 | 12,935 | ||||||
Asbury Automotive Group, Inc.*(a) | 241 | 17,954 | ||||||
Ascena Retail Group, Inc.* | 3,008 | 13,777 | ||||||
At Home Group, Inc.* | 111 | 3,819 | ||||||
AV Homes, Inc.* | 152 | 3,260 | ||||||
Barnes & Noble, Inc. (a) | 778 | 4,084 | ||||||
Bassett Furniture Industries, Inc. | 216 | 5,044 | ||||||
BBX Capital Corp. | 1,271 | 9,444 | ||||||
Beazer Homes USA, Inc.* | 510 | 6,533 | ||||||
Bed Bath & Beyond, Inc. (a) | 109 | 1,955 | ||||||
Belmond Ltd., Class A* | 186 | 3,115 | ||||||
Big Lots, Inc. (a) | 262 | 11,279 | ||||||
Biglari Holdings, Inc., Class B* | 23 | 4,544 | ||||||
BJ’s Restaurants, Inc. | 400 | 30,280 | ||||||
Bloomin’ Brands, Inc. | 593 | 11,445 | ||||||
Bluegreen Vacations Corp. | 97 | 1,812 | ||||||
Bojangles’, Inc.*(a) | 176 | 2,570 | ||||||
Boot Barn Holdings, Inc.*(a) | 112 | 3,352 | ||||||
Boyd Gaming Corp. | 119 | 4,334 | ||||||
Brinker International, Inc. (a) | 541 | 23,955 | ||||||
Buckle, Inc. (a) | 831 | 21,398 | ||||||
Caleres, Inc. (a) | 831 | 33,639 | ||||||
Callaway Golf Co. (a) | 856 | 19,525 | ||||||
Cambium Learning Group, Inc.* | 745 | 9,968 | ||||||
Career Education Corp.* | 324 | 5,168 | ||||||
Carriage Services, Inc. | 203 | 4,622 | ||||||
Carrols Restaurant Group, Inc.* | 504 | 7,963 | ||||||
Cato Corp., Class A | 643 | 13,792 | ||||||
Cavco Industries, Inc.* | 66 | 16,196 | ||||||
Century Casinos, Inc.* | 199 | 1,592 | ||||||
Century Communities, Inc.*(a) | 67 | 1,960 | ||||||
Cheesecake Factory, Inc. (a) | 206 | 10,953 | ||||||
Chegg, Inc.* | 10 | 324 | ||||||
Chico’s FAS, Inc. | 2,396 | 21,852 | ||||||
Children’s Place, Inc. | 134 | 18,860 | ||||||
Churchill Downs, Inc. | 13 | 3,674 | ||||||
Chuy’s Holdings, Inc.*(a) | 304 | 8,801 | ||||||
Citi Trends, Inc. | 793 | 24,535 | ||||||
Clear Channel Outdoor Holdings, Inc., Class A | 234 | 1,065 | ||||||
Conn’s, Inc.* | 48 | 1,968 | ||||||
Container Store Group, Inc.* | 253 | 2,859 | ||||||
Cooper Tire & Rubber Co. (a) | 195 | 5,626 | ||||||
Cooper-Standard Holdings, Inc.* | 115 | 15,919 |
Number | Value | |||||||
Consumer Discretionary (Continued) | ||||||||
Cracker Barrel Old Country Store, Inc. (a) | 35 | $ | 5,218 | |||||
Crocs, Inc.* | 1,455 | 30,060 | ||||||
Culp, Inc. | 103 | 2,611 | ||||||
Daily Journal Corp.*(a) | 6 | 1,431 | ||||||
Dana, Inc. | 398 | 7,789 | ||||||
Dave & Buster’s Entertainment, Inc.* | 47 | 2,734 | ||||||
Deckers Outdoor Corp.* | 127 | 15,474 | ||||||
Del Frisco’s Restaurant Group, Inc.* | 329 | 3,109 | ||||||
Del Taco Restaurants, Inc.* | 309 | 3,995 | ||||||
Denny’s Corp.* | 1,179 | 17,768 | ||||||
Dillard’s, Inc., Class A | 125 | 9,822 | ||||||
Dine Brands Global, Inc. (a) | 42 | 3,504 | ||||||
Dorman Products, Inc.*(a) | 60 | 4,859 | ||||||
Drive Shack, Inc.* | 1,016 | 6,299 | ||||||
DSW, Inc., Class A (a) | 1,291 | 42,939 | ||||||
El Pollo Loco Holdings, Inc.*(a) | 203 | 2,416 | ||||||
Eldorado Resorts, Inc.*(a) | 9 | 432 | ||||||
Emerald Expositions Events, Inc. | 96 | 1,500 | ||||||
Entravision Communications Corp., Class A | 1,057 | 5,549 | ||||||
Eros International PLC*(a) | 157 | 1,774 | ||||||
Escalade, Inc. | 336 | 4,469 | ||||||
Ethan Allen Interiors, Inc. (a) | 376 | 8,366 | ||||||
EW Scripps Co., Class A (a) | 70 | 1,027 | ||||||
Express, Inc.*(a) | 2,306 | 25,873 | ||||||
Fiesta Restaurant Group, Inc.*(a) | 295 | 8,481 | ||||||
Five Below, Inc.* | 77 | 8,968 | ||||||
Flexsteel Industries, Inc. | 59 | 2,105 | ||||||
Fossil Group, Inc.* | 197 | 4,466 | ||||||
Fox Factory Holding Corp.* | 157 | 10,370 | ||||||
Francesca’s Holdings Corp.*(a) | 142 | 892 | ||||||
Funko, Inc., Class A* | 270 | 6,863 | ||||||
GameStop Corp., Class A (a) | 400 | 5,308 | ||||||
Gannett Co., Inc. (a) | 2,364 | 24,302 | ||||||
Genesco, Inc.*(a) | 713 | 36,256 | ||||||
Gentherm, Inc.*(a) | 105 | 5,166 | ||||||
G-III Apparel Group Ltd.*(a) | 237 | 10,779 | ||||||
GNC Holdings, Inc., Class A*(a) | 317 | 983 | ||||||
Gray Television, Inc.*(a) | 254 | 4,432 | ||||||
Group 1 Automotive, Inc. (a) | 109 | 8,403 | ||||||
Groupon, Inc.*(a) | 217 | 927 | ||||||
Guess?, Inc. (a) | 1,101 | 26,974 | ||||||
Habit Restaurants, Inc., Class A*(a) | 165 | 2,731 | ||||||
Hamilton Beach Brands Holding Co., Class A | 177 | 4,098 | ||||||
Haverty Furniture Cos., Inc. | 321 | 7,094 | ||||||
Helen of Troy Ltd.* | 94 | 11,181 | ||||||
Hemisphere Media Group, Inc.* | 154 | 2,110 | ||||||
Hibbett Sports, Inc.* | 832 | 17,098 | ||||||
Hooker Furniture Corp. | 164 | 6,896 | ||||||
Houghton Mifflin Harcourt Co.* | 155 | 1,000 | ||||||
Hovnanian Enterprises, Inc., Class A* | 1,044 | 1,629 | ||||||
Hudson Ltd., Class A*(a) | 371 | 7,643 | ||||||
ILG, Inc. | 106 | 3,618 | ||||||
IMAX Corp.* | 273 | 6,415 | ||||||
Installed Building Products, Inc.*(a) | 28 | 1,303 | ||||||
International Speedway Corp., Class A | 436 | 19,249 | ||||||
iRobot Corp.*(a) | 24 | 2,724 |
See Notes to Financial Statements. | 55 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 2000 Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
Consumer Discretionary (Continued) | ||||||||
J Alexander’s Holdings, Inc.* | 367 | $ | 4,551 | |||||
Jack in the Box, Inc. | 59 | 5,348 | ||||||
Johnson Outdoors, Inc., Class A | 140 | 14,179 | ||||||
K12, Inc.* | 300 | 4,968 | ||||||
KB Home (a) | 576 | 14,314 | ||||||
Kirkland’s, Inc.*(a) | 531 | 4,827 | ||||||
Lands’ End, Inc.* | 79 | 2,030 | ||||||
Laureate Education, Inc., Class A* | 75 | 1,198 | ||||||
La-Z-Boy, Inc. | 468 | 15,561 | ||||||
LCI Industries (a) | 113 | 10,503 | ||||||
LGI Homes, Inc.*(a) | 138 | 7,949 | ||||||
Liberty Expedia Holdings, Inc., Class A* | 174 | 8,030 | ||||||
Liberty Latin America Ltd., Class A*(a) | 112 | 2,208 | ||||||
Liberty Media Corp.-Liberty Braves, Class C* | 68 | 1,807 | ||||||
Liberty TripAdvisor Holdings, Inc., Class A* | 326 | 5,167 | ||||||
Lifetime Brands, Inc. | 29 | 338 | ||||||
Lindblad Expeditions Holdings, Inc.* | 476 | 7,230 | ||||||
Lithia Motors, Inc., Class A (a) | 77 | 6,653 | ||||||
Loral Space & Communications, Inc.* | 175 | 7,761 | ||||||
Lumber Liquidators Holdings, Inc.*(a) | 109 | 1,900 | ||||||
M/I Homes, Inc.* | 239 | 6,192 | ||||||
Malibu Boats, Inc., Class A* | 403 | 19,429 | ||||||
Marcus Corp. | 301 | 12,221 | ||||||
Marine Products Corp. | 185 | 3,633 | ||||||
MarineMax, Inc.*(a) | 188 | 4,230 | ||||||
Marriott Vacations Worldwide Corp. (a) | 20 | 2,380 | ||||||
MCBC Holdings, Inc.* | 508 | 14,006 | ||||||
MDC Holdings, Inc. (a) | 179 | 5,674 | ||||||
Meredith Corp. (a) | 113 | 5,836 | ||||||
Meritage Homes Corp.* | 113 | 4,876 | ||||||
Modine Manufacturing Co.* | 867 | 14,609 | ||||||
Monarch Casino & Resort, Inc.* | 267 | 12,562 | ||||||
Monro, Inc. (a) | 214 | 15,183 | ||||||
Motorcar Parts of America, Inc.*(a) | 130 | 3,450 | ||||||
Movado Group, Inc. | 290 | 12,354 | ||||||
MSG Networks, Inc., Class A*(a) | 513 | 12,466 | ||||||
Murphy USA, Inc.* | 155 | 12,862 | ||||||
Nathan’s Famous, Inc. | 26 | 2,306 | ||||||
National CineMedia, Inc. | 883 | 8,035 | ||||||
National Vision Holdings, Inc.* | 45 | 1,991 | ||||||
Nautilus, Inc.*(a) | 275 | 4,029 | ||||||
New Media Investment Group, Inc. (a) | 1,214 | 19,303 | ||||||
New York & Co., Inc.* | 1,177 | 5,355 | ||||||
New York Times Co., Class A (a) | 210 | 4,893 | ||||||
Nexstar Media Group, Inc., Class A (a) | 41 | 3,362 | ||||||
Noodles & Co.* | 186 | 2,288 | ||||||
Nutrisystem, Inc. (a) | 77 | 2,849 | ||||||
Ollie’s Bargain Outlet Holdings, Inc.*(a) | 88 | 7,665 | ||||||
Overstock.com, Inc.*(a) | 15 | 438 | ||||||
Oxford Industries, Inc. (a) | 229 | 21,318 | ||||||
Papa John’s International, Inc. (a) | 74 | 3,413 | ||||||
Party City Holdco, Inc.* | 202 | 3,101 | ||||||
Penn National Gaming, Inc.*(a) | 491 | 16,920 | ||||||
Perry Ellis International, Inc.* | 394 | 10,847 | ||||||
PetMed Express, Inc. (a) | 213 | 7,815 | ||||||
Pinnacle Entertainment, Inc.* | 570 | 19,517 |
Number | Value | |||||||
Consumer Discretionary (Continued) | ||||||||
Planet Fitness, Inc., Class A* | 355 | $ | 18,236 | |||||
PlayAGS, Inc.* | 89 | 2,852 | ||||||
Potbelly Corp.*(a) | 834 | 11,301 | ||||||
RCI Hospitality Holdings, Inc. | 245 | 7,945 | ||||||
Reading International, Inc., Class A* | 306 | 4,927 | ||||||
Red Lion Hotels Corp.*(a) | 440 | 6,006 | ||||||
Red Robin Gourmet Burgers, Inc.*(a) | 189 | 7,806 | ||||||
Red Rock Resorts, Inc., Class A | 346 | 11,293 | ||||||
Regis Corp.*(a) | 1,059 | 22,652 | ||||||
Rent-A-Center, Inc.* | 326 | 4,805 | ||||||
RH* | 203 | 32,277 | ||||||
Rocky Brands, Inc. | 386 | 11,638 | ||||||
Ruth’s Hospitality Group, Inc. | 602 | 18,542 | ||||||
Saga Communications, Inc., Class A | 47 | 1,786 | ||||||
Sally Beauty Holdings, Inc.*(a) | 452 | 6,961 | ||||||
Scholastic Corp. | 255 | 10,720 | ||||||
SeaWorld Entertainment, Inc.* | 104 | 3,049 | ||||||
Shake Shack, Inc., Class A* | 137 | 8,282 | ||||||
Shoe Carnival, Inc. (a) | 439 | 19,518 | ||||||
Shutterfly, Inc.*(a) | 92 | 7,147 | ||||||
Signet Jewelers Ltd. (a) | 100 | 6,420 | ||||||
Sinclair Broadcast Group, Inc., Class A | 171 | 4,950 | ||||||
Skyline Champion Corp. | 71 | 2,053 | ||||||
Sleep Number Corp.*(a) | 445 | 14,996 | ||||||
Sonic Automotive, Inc., Class A (a) | 481 | 10,341 | ||||||
Sonic Corp. (a) | 283 | 10,148 | ||||||
Sotheby’s*(a) | 131 | 6,291 | ||||||
Speedway Motorsports, Inc. | 96 | 1,717 | ||||||
Standard Motor Products, Inc. (a) | 225 | 11,423 | ||||||
Steven Madden Ltd. | 223 | 12,967 | ||||||
Stoneridge, Inc.* | 377 | 11,284 | ||||||
Strategic Education, Inc. | 148 | 20,538 | ||||||
Sturm Ruger & Co., Inc. | 132 | 8,639 | ||||||
Superior Group of Cos., Inc. | 156 | 2,956 | ||||||
Tailored Brands, Inc. (a) | 340 | 8,004 | ||||||
Taylor Morrison Home Corp., Class A* | 215 | 4,184 | ||||||
TEGNA, Inc. | 414 | 4,819 | ||||||
Tenneco, Inc. | 157 | 6,718 | ||||||
Texas Roadhouse, Inc. (a) | 98 | 6,757 | ||||||
Tilly’s, Inc., Class A | 371 | 8,726 | ||||||
TopBuild Corp.* | 124 | 7,723 | ||||||
Tower International, Inc. | 461 | 15,582 | ||||||
Town Sports International Holdings, Inc.* | 192 | 1,757 | ||||||
TRI Pointe Group, Inc.*(a) | 597 | 8,651 | ||||||
tronc, Inc.* | 125 | 2,062 | ||||||
Tupperware Brands Corp. (a) | 101 | 3,285 | ||||||
Unifi, Inc.* | 225 | 7,157 | ||||||
Universal Electronics, Inc.*(a) | 22 | 950 | ||||||
Vera Bradley, Inc.* | 533 | 7,814 | ||||||
Vista Outdoor, Inc.* | 133 | 2,457 | ||||||
Weyco Group, Inc. (a) | 295 | 10,464 | ||||||
WideOpenWest, Inc.*(a) | 352 | 4,101 | ||||||
William Lyon Homes, Class A* | 443 | 8,669 | ||||||
Wingstop, Inc. | 205 | 13,725 | ||||||
Winmark Corp. (a) | 57 | 8,504 | ||||||
Wolverine World Wide, Inc. | 149 | 5,838 | ||||||
World Wrestling Entertainment, Inc., Class A (a) | 98 | 8,566 |
See Notes to Financial Statements. | 56 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 2000 Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
Consumer Discretionary (Continued) | ||||||||
ZAGG, Inc.*(a) | 1,108 | $ | 17,950 | |||||
Zoe’s Kitchen, Inc.* | 476 | 6,521 | ||||||
Zumiez, Inc.*(a) | 633 | 19,718 | ||||||
|
| |||||||
1,957,744 | ||||||||
|
| |||||||
Consumer Staples — 2.6% | ||||||||
Alico, Inc. (a) | 63 | 2,035 | ||||||
Andersons, Inc. | 188 | 7,680 | ||||||
B&G Foods, Inc. (a) | 64 | 2,045 | ||||||
Boston Beer Co, Inc., Class A*(a) | 73 | 22,130 | ||||||
Calavo Growers, Inc. (a) | 170 | 17,994 | ||||||
Central Garden & Pet Co.*(a) | 49 | 1,945 | ||||||
Central Garden & Pet Co., Class A* | 230 | 8,356 | ||||||
Chefs’ Warehouse, Inc.* | 397 | 11,672 | ||||||
Coca-Cola Bottling Co. Consolidated (a) | 18 | 3,052 | ||||||
Craft Brew Alliance, Inc.* | 76 | 1,440 | ||||||
Darling Ingredients, Inc.* | 333 | 6,587 | ||||||
Dean Foods Co. (a) | 328 | 2,499 | ||||||
Edgewell Personal Care Co.*(a) | 46 | 2,598 | ||||||
Farmer Brothers Co.* | 88 | 2,552 | ||||||
Fresh Del Monte Produce, Inc. | 138 | 5,167 | ||||||
Freshpet, Inc.* | 155 | 5,758 | ||||||
Hostess Brands, Inc.*(a) | 130 | 1,529 | ||||||
Ingles Markets, Inc., Class A (a) | 227 | 8,161 | ||||||
Inter Parfums, Inc. | 119 | 7,771 | ||||||
J&J Snack Foods Corp. (a) | 39 | 5,674 | ||||||
John B Sanfilippo & Son, Inc. (a) | 109 | 7,965 | ||||||
Lancaster Colony Corp. | 23 | 3,594 | ||||||
Landec Corp.* | 430 | 5,783 | ||||||
Limoneira Co. | 122 | 3,764 | ||||||
Medifast, Inc. | 113 | 25,849 | ||||||
MGP Ingredients, Inc. (a) | 111 | 8,559 | ||||||
National Beverage Corp.*(a) | 2 | 236 | ||||||
Natural Grocers by Vitamin Cottage, Inc.* | 230 | 4,464 | ||||||
Nature’s Sunshine Products, Inc.* | 128 | 1,152 | ||||||
Oil-Dri Corp. of America | 112 | 4,553 | ||||||
Performance Food Group Co.* | 110 | 3,641 | ||||||
PriceSmart, Inc. (a) | 64 | 5,558 | ||||||
Primo Water Corp.* | 281 | 5,620 | ||||||
Sanderson Farms, Inc. (a) | 92 | 9,730 | ||||||
Seneca Foods Corp., Class A* | 74 | 2,390 | ||||||
SpartanNash Co. | 125 | 2,669 | ||||||
Tootsie Roll Industries, Inc. (a) | 116 | 3,341 | ||||||
Turning Point Brands, Inc. | 121 | 4,073 | ||||||
United Natural Foods, Inc.*(a) | 611 | 21,697 | ||||||
Universal Corp. | 42 | 2,511 | ||||||
USANA Health Sciences, Inc.* | 41 | 5,410 | ||||||
Vector Group Ltd. (a) | 179 | 2,780 | ||||||
Village Super Market, Inc., Class A (a) | 401 | 11,701 | ||||||
WD-40 Co. (a) | 63 | 11,179 | ||||||
Weis Markets, Inc. (a) | 169 | 7,874 | ||||||
|
| |||||||
292,738 | ||||||||
|
| |||||||
Energy — 3.0% | ||||||||
Abraxas Petroleum Corp.* | 854 | 1,921 | ||||||
Adams Resources & Energy, Inc. | 99 | 4,544 | ||||||
Archrock, Inc. | 378 | 4,782 | ||||||
Ardmore Shipping Corp.* | 308 | 2,156 |
Number | Value | |||||||
Energy (Continued) | ||||||||
Bristow Group, Inc.*(a) | 165 | $ | 1,808 | |||||
C&J Energy Services, Inc.*(a) | 96 | 2,011 | ||||||
Cactus, Inc., Class A* | 231 | 7,896 | ||||||
Callon Petroleum Co.*(a) | 215 | 2,429 | ||||||
Carrizo Oil & Gas, Inc.*(a) | 202 | 4,892 | ||||||
Cloud Peak Energy, Inc.* | 185 | 437 | ||||||
CONSOL Energy, Inc.* | 442 | 18,962 | ||||||
CVR Energy, Inc. (a) | 83 | 3,158 | ||||||
Delek US Holdings, Inc. | 86 | 4,687 | ||||||
DHT Holdings, Inc. | 292 | 1,367 | ||||||
Diamond Offshore Drilling, Inc.*(a) | 327 | 5,696 | ||||||
Dorian LPG Ltd.*(a) | 100 | 762 | ||||||
Dril-Quip, Inc.*(a) | 110 | 5,791 | ||||||
Era Group, Inc.* | 78 | 931 | ||||||
Evolution Petroleum Corp. | 517 | 5,196 | ||||||
Exterran Corp.* | 273 | 7,477 | ||||||
FTS International, Inc.*(a) | 151 | 1,666 | ||||||
GasLog Ltd. (a) | 186 | 3,125 | ||||||
Green Plains, Inc. (a) | 166 | 2,947 | ||||||
Gulfport Energy Corp.*(a) | 239 | 2,811 | ||||||
Hallador Energy Co. | 303 | 1,851 | ||||||
Helix Energy Solutions Group, Inc.* | 401 | �� | 3,753 | |||||
Isramco, Inc.* | 16 | 1,867 | ||||||
Keane Group, Inc.* | 184 | 2,260 | ||||||
Laredo Petroleum, Inc.*(a) | 252 | 2,089 | ||||||
Liberty Oilfield Services, Inc., Class A*(a) | 208 | 4,085 | ||||||
Mammoth Energy Services, Inc. | 54 | 1,484 | ||||||
Matador Resources Co.*(a) | 152 | 4,976 | ||||||
Matrix Service Co.* | 120 | 2,508 | ||||||
McDermott International, Inc.*(a) | 139 | 2,688 | ||||||
Midstates Petroleum Co., Inc.* | 217 | 2,524 | ||||||
NACCO Industries, Inc., Class A | 134 | 4,710 | ||||||
Natural Gas Services Group, Inc.* | 146 | 3,227 | ||||||
Newpark Resources, Inc.*(a) | 1,155 | 12,128 | ||||||
Nine Energy Service, Inc.* | 69 | 2,069 | ||||||
Noble Corp. PLC* | 933 | 5,691 | ||||||
Northern Oil and Gas, Inc.*(a) | 831 | 2,867 | ||||||
Oceaneering International, Inc.*(a) | 126 | 3,562 | ||||||
Oil States International, Inc.* | 240 | 8,124 | ||||||
Overseas Shipholding Group, Inc., Class A* | 547 | 1,876 | ||||||
Panhandle Oil and Gas, Inc., Class A | 54 | 1,007 | ||||||
Par Pacific Holdings, Inc.* | 630 | 12,795 | ||||||
PDC Energy, Inc.*(a) | 64 | 3,372 | ||||||
PHI, Inc.* | 208 | 1,695 | ||||||
Profire Energy, Inc.* | 490 | 1,397 | ||||||
ProPetro Holding Corp.*(a) | 764 | 11,628 | ||||||
Renewable Energy Group, Inc.* | 1,355 | 36,517 | ||||||
REX American Resources Corp.* | 55 | 4,432 | ||||||
Ring Energy, Inc.*(a) | 312 | 3,682 | ||||||
Rowan Cos. PLC, Class A* | 518 | 7,273 | ||||||
SEACOR Holdings, Inc.* | 493 | 25,365 | ||||||
SemGroup Corp., Class A (a) | 121 | 2,928 | ||||||
Ship Finance International Ltd. | 675 | 9,585 | ||||||
SilverBow Resources, Inc.* | 165 | 5,092 | ||||||
Solaris Oilfield Infrastructure, Inc., Class A*(a) | 267 | 4,598 |
See Notes to Financial Statements. | 57 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 2000 Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
Energy (Continued) | ||||||||
Southwestern Energy Co.*(a) | 418 | $ | 2,349 | |||||
SRC Energy, Inc.*(a) | 513 | 4,776 | ||||||
Superior Energy Services, Inc.* | 282 | 2,538 | ||||||
Teekay Corp. (a) | 825 | 5,594 | ||||||
TETRA Technologies, Inc.*(a) | 2,024 | 9,290 | ||||||
Unit Corp.*(a) | 101 | 2,655 | ||||||
US Silica Holdings, Inc. (a) | 109 | 2,310 | ||||||
W&T Offshore, Inc.*(a) | 614 | 4,157 | ||||||
WildHorse Resource Development Corp.* | 92 | 2,000 | ||||||
World Fuel Services Corp. | 279 | 7,820 | ||||||
|
| |||||||
346,646 | ||||||||
|
| |||||||
Financials — 28.4% | ||||||||
1st Constitution Bancorp | 262 | 5,541 | ||||||
1st Source Corp. | 153 | 8,566 | ||||||
Access National Corp. (a) | 214 | 5,808 | ||||||
ACNB Corp. | 172 | 6,158 | ||||||
AG Mortgage Investment Trust, Inc. REIT | 1,041 | 19,571 | ||||||
Allegiance Bancshares, Inc.* | 155 | 6,905 | ||||||
American Equity Investment Life Holding Co. | 280 | 10,385 | ||||||
American National Bankshares, Inc. | 166 | 6,831 | ||||||
Ameris Bancorp | 96 | 4,766 | ||||||
AMERISAFE, Inc. | 281 | 17,928 | ||||||
Ames National Corp. | 182 | 5,505 | ||||||
Anworth Mortgage Asset Corp. REIT | 1,657 | 8,086 | ||||||
Apollo Commercial Real Estate Finance, Inc. REIT | 613 | 11,911 | ||||||
Arbor Realty Trust, Inc. REIT (a) | 2,423 | 29,706 | ||||||
Ares Commercial Real Estate Corp. REIT | 812 | 11,871 | ||||||
Argo Group International Holdings Ltd. | 194 | 12,358 | ||||||
Arlington Asset Investment Corp., Class A (a) | 564 | 5,736 | ||||||
ARMOUR Residential REIT, Inc. REIT (a) | 498 | 11,713 | ||||||
Arrow Financial Corp. (a) | 277 | 10,900 | ||||||
Artisan Partners Asset Management, Inc., Class A (a) | 422 | 13,989 | ||||||
Atlantic Capital Bancshares, Inc.* | 512 | 9,344 | ||||||
Auburn National Bancorporation, Inc. (a) | 78 | 3,619 | ||||||
Banc of California, Inc. (a) | 419 | 8,443 | ||||||
BancFirst Corp. | 100 | 6,380 | ||||||
Banco Latinoamericano de Comercio Exterior SA, Class E | 548 | 11,327 | ||||||
Bancorp, Inc.* | 600 | 6,018 | ||||||
BancorpSouth Bank | 159 | 5,533 | ||||||
Bank of Commerce Holdings | 296 | 3,818 | ||||||
Bank of Marin Bancorp | 140 | 12,341 | ||||||
Bank of NT Butterfield & Son Ltd. | 107 | 5,654 | ||||||
Bank of Princeton* | 110 | 3,619 | ||||||
BankFinancial Corp. | 363 | 5,790 | ||||||
Bankwell Financial Group, Inc. | 131 | 4,126 | ||||||
Banner Corp. | 195 | 12,544 | ||||||
Bar Harbor Bankshares | 276 | 8,128 | ||||||
Baycom Corp.* | 147 | 3,851 | ||||||
BCB Bancorp, Inc. | 424 | 6,296 | ||||||
Beneficial Bancorp, Inc. | 567 | 9,979 | ||||||
Berkshire Hills Bancorp, Inc. (a) | 190 | 8,027 |
Number | Value | |||||||
Financials (Continued) | ||||||||
Blackstone Mortgage Trust, Inc., Class A REIT (a) | 181 | $ | 6,165 | |||||
Blucora, Inc.* | 151 | 5,466 | ||||||
Blue Hills Bancorp, Inc. | 443 | 10,189 | ||||||
BofI Holding, Inc.* | 255 | 9,496 | ||||||
Boston Private Financial Holdings, Inc. | 586 | 8,468 | ||||||
Bridge Bancorp, Inc. | 248 | 8,680 | ||||||
BrightSphere Investment Group PLC | 945 | 11,992 | ||||||
Brookline Bancorp, Inc. | 641 | 11,634 | ||||||
Bryn Mawr Bank Corp. | 242 | 11,810 | ||||||
BSB Bancorp, Inc.*(a) | 303 | 10,090 | ||||||
Business First Bancshares, Inc. | 109 | 2,821 | ||||||
Byline Bancorp, Inc.* | 179 | 4,087 | ||||||
C&F Financial Corp. | 141 | 8,784 | ||||||
Cadence BanCorp (a) | 204 | 5,763 | ||||||
Cambridge Bancorp | 61 | 5,461 | ||||||
Camden National Corp. | 273 | 12,487 | ||||||
Cannae Holdings, Inc.* | 812 | 15,785 | ||||||
Capital City Bank Group, Inc. | 281 | 6,890 | ||||||
Capitol Federal Financial, Inc. | 643 | 8,494 | ||||||
Capstar Financial Holdings, Inc. | 146 | 2,551 | ||||||
Capstead Mortgage Corp. REIT | 1,227 | 10,307 | ||||||
Carolina Financial Corp. (a) | 169 | 6,954 | ||||||
Cathay General Bancorp | 123 | 5,203 | ||||||
CB Financial Services, Inc. | 122 | 3,916 | ||||||
CBTX, Inc. | 173 | 6,327 | ||||||
CenterState Banks Corp. | 227 | 6,951 | ||||||
Central Pacific Financial Corp. | 288 | 8,159 | ||||||
Central Valley Community Bancorp | 214 | 4,625 | ||||||
Century Bancorp, Inc., Class A | 93 | 6,626 | ||||||
Charter Financial Corp. | 418 | 10,412 | ||||||
Chemical Financial Corp. | 89 | 5,084 | ||||||
Chemung Financial Corp. | 121 | 5,082 | ||||||
Cherry Hill Mortgage Investment Corp. REIT | 683 | 12,704 | ||||||
Citizens & Northern Corp. | 293 | 8,207 | ||||||
Citizens, Inc.*(a) | 859 | 7,216 | ||||||
City Holding Co. (a) | 175 | 14,189 | ||||||
Civista Bancshares, Inc. (a) | 332 | 7,928 | ||||||
CNB Financial Corp. | 424 | 13,072 | ||||||
CNO Financial Group, Inc. | 417 | 9,011 | ||||||
CoBiz Financial, Inc. | 556 | 12,816 | ||||||
Codorus Valley Bancorp, Inc. | 264 | 8,261 | ||||||
Cohen & Steers, Inc. | 133 | 5,529 | ||||||
Colony Credit Real Estate, Inc. REIT | 600 | 12,048 | ||||||
Columbia Banking System, Inc. (a) | 121 | 5,112 | ||||||
Columbia Financial, Inc.* | 138 | 2,336 | ||||||
Community Bank System, Inc. (a) | 97 | 6,415 | ||||||
Community Bankers Trust Corp.* | 619 | 5,602 | ||||||
Community Financial Corp. | 65 | 2,164 | ||||||
Community Trust Bancorp, Inc. | 225 | 11,115 | ||||||
ConnectOne Bancorp, Inc. | 571 | 14,075 | ||||||
County Bancorp, Inc. | 95 | 2,373 | ||||||
Crawford & Co., Class B | 175 | 1,526 | ||||||
Curo Group Holdings Corp.* | 98 | 3,024 | ||||||
Customers Bancorp, Inc.* | 491 | 12,128 | ||||||
CVB Financial Corp. | 301 | 7,239 |
See Notes to Financial Statements. | 58 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 2000 Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
Financials (Continued) | ||||||||
Diamond Hill Investment Group, Inc. | 77 | $ | 14,367 | |||||
Dime Community Bancshares, Inc. | 431 | 7,823 | ||||||
Donegal Group, Inc., Class A | 244 | 3,526 | ||||||
Donnelley Financial Solutions, Inc.* | 302 | 6,309 | ||||||
Dynex Capital, Inc. REIT | 1,848 | 11,846 | ||||||
Eagle Bancorp, Inc.* | 107 | 5,762 | ||||||
Elevate Credit, Inc.* | 399 | 3,735 | ||||||
EMC Insurance Group, Inc. | 193 | 4,956 | ||||||
Employers Holdings, Inc. | 294 | 13,480 | ||||||
Encore Capital Group, Inc.*(a) | 375 | 14,531 | ||||||
Enova International, Inc.* | 610 | 20,252 | ||||||
Enstar Group Ltd.*(a) | 13 | 2,776 | ||||||
Entegra Financial Corp.* | 246 | 6,765 | ||||||
Enterprise Bancorp, Inc. | 142 | 5,108 | ||||||
Enterprise Financial Services Corp. | 267 | 15,032 | ||||||
Equity Bancshares, Inc., Class A* | 253 | 10,269 | ||||||
Esquire Financial Holdings, Inc.* | 84 | 2,184 | ||||||
ESSA Bancorp, Inc. | 251 | 4,036 | ||||||
Essent Group Ltd.* | 260 | 11,274 | ||||||
Evans Bancorp, Inc. | 158 | 7,513 | ||||||
Exantas Capital Corp. REIT (a) | 828 | 9,812 | ||||||
EZCORP, Inc., Class A*(a) | 1,217 | 13,509 | ||||||
Farmers & Merchants Bancorp, Inc. | 251 | 11,418 | ||||||
Farmers National Banc Corp. | 460 | 7,291 | ||||||
FB Financial Corp. | 97 | 4,266 | ||||||
FBL Financial Group, Inc., Class A (a) | 80 | 6,508 | ||||||
FCB Financial Holdings, Inc., Class A* | 128 | 6,630 | ||||||
Federal Agricultural Mortgage Corp., Class C | 218 | 16,801 | ||||||
Federated Investors, Inc., Class B (a) | 481 | 11,140 | ||||||
FedNat Holding Co. | 318 | 8,363 | ||||||
FGL Holdings* | 703 | 6,123 | ||||||
Fidelity D&D Bancorp, Inc. | 145 | 8,626 | ||||||
Fidelity Southern Corp. | 445 | 10,813 | ||||||
Financial Institutions, Inc. | 299 | 9,658 | ||||||
First BanCorp* | 1,409 | 12,329 | ||||||
First Bancorp, Inc. | 213 | 6,237 | ||||||
First Bancorp/Southern Pines NC | 294 | 12,266 | ||||||
First Bancshares, Inc. | 241 | 9,893 | ||||||
First Bank | 374 | 5,348 | ||||||
First Busey Corp. | 350 | 11,217 | ||||||
First Business Financial Services, Inc. | 265 | 5,872 | ||||||
First Choice Bancorp | 82 | 2,226 | ||||||
First Commonwealth Financial Corp. | 529 | 8,861 | ||||||
First Community Bancshares, Inc. | 366 | 12,287 | ||||||
First Community Corp. (a) | 176 | 4,426 | ||||||
First Connecticut Bancorp, Inc. | 234 | 7,418 | ||||||
First Defiance Financial Corp. | 360 | 11,516 | ||||||
First Financial Bancorp | 187 | 5,872 | ||||||
First Financial Bankshares, Inc. (a) | 130 | 7,852 | ||||||
First Financial Corp. | 189 | 9,724 | ||||||
First Financial Northwest, Inc. | 213 | 3,719 | ||||||
First Foundation, Inc.* | 509 | 8,236 | ||||||
First Guaranty Bancshares, Inc. (a) | 89 | 2,224 | ||||||
First Internet Bancorp | 193 | 6,070 | ||||||
First Interstate BancSystem, Inc., Class A | 218 | 10,126 | ||||||
First Merchants Corp. | 178 | 8,565 |
Number | Value | |||||||
Financials (Continued) | ||||||||
First Mid-Illinois Bancshares, Inc. | 53 | $ | 2,178 | |||||
First Midwest Bancorp, Inc. | 290 | 7,882 | ||||||
First Northwest Bancorp* | 220 | 3,683 | ||||||
First of Long Island Corp. | 268 | 5,842 | ||||||
First Savings Financial Group, Inc. (a) | 51 | 3,625 | ||||||
First United Corp. | 265 | 5,340 | ||||||
FirstCash, Inc. | 129 | 10,488 | ||||||
Flagstar Bancorp, Inc.* | 23 | 760 | ||||||
Flushing Financial Corp. | 326 | 8,450 | ||||||
Franklin Financial Network, Inc.*(a) | 119 | 4,599 | ||||||
FS Bancorp, Inc. | 123 | 7,175 | ||||||
Fulton Financial Corp. | 346 | 6,297 | ||||||
GAIN Capital Holdings, Inc. (a) | 164 | 1,209 | ||||||
GAMCO Investors, Inc., Class A (a) | 177 | 4,575 | ||||||
Genworth Financial, Inc., Class A* | 1,252 | 5,822 | ||||||
German American Bancorp, Inc. (a) | 255 | 9,585 | ||||||
Glacier Bancorp, Inc. (a) | 185 | 8,451 | ||||||
Global Indemnity Ltd. | 95 | 3,746 | ||||||
Granite Point Mortgage Trust, Inc. REIT (a) | 497 | 9,513 | ||||||
Great Ajax Corp. REIT | 395 | 5,388 | ||||||
Great Southern Bancorp, Inc. | 183 | 10,852 | ||||||
Great Western Bancorp, Inc. | 185 | 8,055 | ||||||
Green Bancorp, Inc. | 312 | 7,488 | ||||||
Green Dot Corp., Class A* | 107 | 9,167 | ||||||
Greene County Bancorp, Inc. | 46 | 1,608 | ||||||
Greenhill & Co., Inc. (a) | 176 | 4,840 | ||||||
Greenlight Capital Re Ltd., Class A*(a) | 176 | 2,262 | ||||||
Guaranty Bancorp | 290 | 9,062 | ||||||
Guaranty Bancshares, Inc. | 150 | 4,717 | ||||||
Hallmark Financial Services, Inc.* | 265 | 2,976 | ||||||
Hamilton Lane, Inc., Class A | 248 | 12,097 | ||||||
Hancock Whitney Corp. | 83 | 4,279 | ||||||
Hanmi Financial Corp. | 338 | 8,822 | ||||||
Hannon Armstrong Sustainable Infrastructure Capital, Inc. REIT (a) | 230 | 4,959 | ||||||
HarborOne Bancorp, Inc.*(a) | 134 | 2,641 | ||||||
HCI Group, Inc. (a) | 74 | 2,997 | ||||||
Health Insurance Innovations, Inc., Class A* | 82 | 4,338 | ||||||
Heartland Financial USA, Inc. (a) | 246 | 14,957 | ||||||
Heritage Commerce Corp. | 722 | 11,436 | ||||||
Heritage Financial Corp. (a) | 444 | 16,117 | ||||||
Heritage Insurance Holdings, Inc. | 213 | 3,120 | ||||||
Hilltop Holdings, Inc. | 111 | 2,303 | ||||||
Hingham Institution for Savings | 29 | 6,293 | ||||||
Home Bancorp, Inc. | 180 | 8,235 | ||||||
Home BancShares, Inc. (a) | 107 | 2,505 | ||||||
HomeStreet, Inc.* | 478 | 14,077 | ||||||
HomeTrust Bancshares, Inc.* | 255 | 7,344 | ||||||
Hope Bancorp, Inc. (a) | 373 | 6,531 | ||||||
Horace Mann Educators Corp. | 355 | 16,436 | ||||||
Horizon Bancorp, Inc. | 556 | 11,359 | ||||||
Houlihan Lokey, Inc. | 528 | 24,832 | ||||||
Howard Bancorp, Inc.* | 132 | 2,303 | ||||||
IBERIABANK Corp. | 45 | 3,899 | ||||||
Independence Holding Co. | 313 | 11,033 |
See Notes to Financial Statements. | 59 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 2000 Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
Financials (Continued) | ||||||||
Independent Bank Corp. | 378 | $ | 9,431 | |||||
Independent Bank Corp./Rockland MA (a) | 118 | 10,750 | ||||||
Independent Bank Group, Inc. (a) | 100 | 6,925 | ||||||
International Bancshares Corp. | 148 | 6,934 | ||||||
INTL. FCStone, Inc.* | 332 | 18,512 | ||||||
Invesco Mortgage Capital, Inc. REIT | 1,016 | 16,490 | ||||||
Investar Holding Corp. | 215 | 5,902 | ||||||
Investment Technology Group, Inc. | 197 | 4,310 | ||||||
Investors Bancorp, Inc. | 265 | 3,392 | ||||||
Investors Title Co. | 35 | 6,790 | ||||||
James River Group Holdings Ltd. | 281 | 11,507 | ||||||
Kearny Financial Corp. (a) | 373 | 5,110 | ||||||
Kemper Corp. | 345 | 28,066 | ||||||
Kingstone Cos., Inc. | 362 | 6,715 | ||||||
Kinsale Capital Group, Inc. | 343 | 20,844 | ||||||
KKR Real Estate Finance Trust, Inc. | 90 | 1,908 | ||||||
Ladder Capital Corp. REIT | 647 | 11,238 | ||||||
Ladenburg Thalmann Financial Services, Inc. | 2,753 | 9,498 | ||||||
Lakeland Bancorp, Inc. | 441 | 8,511 | ||||||
Lakeland Financial Corp. (a) | 225 | 11,086 | ||||||
LCNB Corp. | 176 | 3,274 | ||||||
LegacyTexas Financial Group, Inc. | 239 | 11,059 | ||||||
LendingTree, Inc.*(a) | 7 | 1,773 | ||||||
Live Oak Bancshares, Inc. | 49 | 1,482 | ||||||
Luther Burbank Corp. | 232 | 2,645 | ||||||
Macatawa Bank Corp. | 700 | 8,729 | ||||||
Maiden Holdings Ltd. | 196 | 745 | ||||||
Malvern Bancorp, Inc.* | 160 | 3,936 | ||||||
Marlin Business Services Corp. | 246 | 7,036 | ||||||
MB Financial, Inc. | 77 | 3,731 | ||||||
MBT Financial Corp. | 490 | 5,365 | ||||||
Mercantile Bank Corp. | 323 | 11,437 | ||||||
Merchants Bancorp | 74 | 1,932 | ||||||
Meridian Bancorp, Inc. | 531 | 9,505 | ||||||
Meta Financial Group, Inc. (a) | 112 | 9,699 | ||||||
Metropolitan Bank Holding Corp.* | 94 | 3,877 | ||||||
MGIC Investment Corp.* | 601 | 7,645 | ||||||
Mid Penn Bancorp, Inc. (a) | 144 | 4,385 | ||||||
Middlefield Banc Corp. | 55 | 2,728 | ||||||
Midland States Bancorp, Inc. | 193 | 6,645 | ||||||
MidSouth Bancorp, Inc. (a) | 295 | 4,528 | ||||||
MidWestOne Financial Group, Inc. | 162 | 5,433 | ||||||
Moelis & Co., Class A | 357 | 20,724 | ||||||
MTGE Investment Corp. REIT | 1,105 | 21,658 | ||||||
MutualFirst Financial, Inc. | 142 | 5,396 | ||||||
MVB Financial Corp. | 418 | 7,624 | ||||||
National Bank Holdings Corp., Class A | 234 | 9,395 | ||||||
National Bankshares, Inc. | 167 | 7,682 | ||||||
National Commerce Corp.* | 224 | 9,856 | ||||||
National General Holdings Corp. | 312 | 8,521 | ||||||
National Western Life Group, Inc., Class A | 30 | 9,779 | ||||||
Navigators Group, Inc. | 189 | 13,230 | ||||||
NBT Bancorp, Inc. (a) | 227 | 9,189 | ||||||
Nelnet, Inc., Class A | 200 | 11,530 | ||||||
New York Mortgage Trust, Inc. REIT | 2,034 | 13,018 | ||||||
NI Holdings, Inc.* | 137 | 2,313 |
Number | Value | |||||||
Financials (Continued) | ||||||||
Nicolet Bankshares, Inc.* | 137 | $ | 7,584 | |||||
NMI Holdings, Inc., Class A*(a) | 1,016 | 21,946 | ||||||
Northeast Bancorp | 305 | 6,649 | ||||||
Northfield Bancorp, Inc. (a) | 546 | 8,889 | ||||||
Northrim BanCorp, Inc. | 237 | 10,558 | ||||||
Northwest Bancshares, Inc. (a) | 639 | 11,643 | ||||||
Norwood Financial Corp. | 175 | 6,867 | ||||||
Oak Valley Bancorp | 287 | 6,018 | ||||||
OceanFirst Financial Corp. | 278 | 8,118 | ||||||
Ocwen Financial Corp.* | 486 | 2,031 | ||||||
OFG Bancorp | 1,235 | 20,007 | ||||||
Ohio Valley Banc Corp. | 193 | 8,135 | ||||||
Old Line Bancshares, Inc. | 257 | 8,789 | ||||||
Old National Bancorp | 378 | 7,673 | ||||||
Old Second Bancorp, Inc. | 724 | 11,186 | ||||||
On Deck Capital, Inc.* | 641 | 5,269 | ||||||
OP Bancorp* | 439 | 5,312 | ||||||
Oppenheimer Holdings, Inc., Class A | 521 | 16,255 | ||||||
Opus Bank | 214 | 6,067 | ||||||
Orchid Island Capital, Inc. REIT (a) | 590 | 4,685 | ||||||
Origin Bancorp, Inc. | 132 | 5,349 | ||||||
Oritani Financial Corp. (a) | 572 | 9,266 | ||||||
Orrstown Financial Services, Inc. | 200 | 5,210 | ||||||
Pacific Mercantile Bancorp* | 238 | 2,404 | ||||||
Pacific Premier Bancorp, Inc.* | 218 | 8,622 | ||||||
Park National Corp. (a) | 70 | 7,711 | ||||||
Parke Bancorp, Inc. | 197 | 4,541 | ||||||
PCSB Financial Corp. | 199 | 4,083 | ||||||
PDL Community Bancorp*(a) | 137 | 2,033 | ||||||
Peapack Gladstone Financial Corp. | 298 | 9,956 | ||||||
Penns Woods Bancorp, Inc. | 116 | 5,252 | ||||||
PennyMac Financial Services, Inc., Class A | 640 | 13,536 | ||||||
PennyMac Mortgage Investment Trust REIT (a) | 1,090 | 21,778 | ||||||
Peoples Bancorp of North Carolina, Inc. | 133 | 4,059 | ||||||
Peoples Bancorp, Inc. | 322 | 11,547 | ||||||
Peoples Financial Services Corp. | 192 | 8,828 | ||||||
People’s Utah Bancorp (a) | 313 | 11,315 | ||||||
PHH Corp.* | 436 | 4,731 | ||||||
Piper Jaffray Cos. | 203 | 15,631 | ||||||
PJT Partners, Inc., Class A | 209 | 12,105 | ||||||
PRA Group, Inc.*(a) | 193 | 7,054 | ||||||
Preferred Bank (a) | 193 | 11,814 | ||||||
Premier Financial Bancorp, Inc. | 281 | 5,480 | ||||||
Primerica, Inc. | 79 | 9,658 | ||||||
ProAssurance Corp. | 107 | 5,173 | ||||||
Protective Insurance Corp., Class B | 363 | 8,531 | ||||||
Provident Bancorp, Inc.* | 85 | 2,406 | ||||||
Provident Financial Services, Inc. | 353 | 8,906 | ||||||
Prudential Bancorp, Inc. | 194 | 3,566 | ||||||
Pzena Investment Management, Inc., Class A | 625 | 5,675 | ||||||
QCR Holdings, Inc. | 169 | 7,352 | ||||||
Radian Group, Inc. | 319 | 6,485 | ||||||
RBB Bancorp | 199 | 5,701 | ||||||
Redwood Trust, Inc. REIT | 117 | 1,987 |
See Notes to Financial Statements. | 60 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 2000 Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
Financials (Continued) | ||||||||
Regional Management Corp.* | 492 | $ | 16,398 | |||||
Reliant Bancorp, Inc. (a) | 107 | 2,948 | ||||||
Renasant Corp. | 168 | 7,844 | ||||||
Republic Bancorp, Inc., Class A | 198 | 9,625 | ||||||
Republic First Bancorp, Inc.*(a) | 235 | 1,833 | ||||||
Riverview Bancorp, Inc. | 864 | 8,510 | ||||||
RLI Corp. | 116 | 8,929 | ||||||
S&T Bancorp, Inc. (a) | 305 | 14,231 | ||||||
Safety Insurance Group, Inc. | 229 | 22,144 | ||||||
Sandy Spring Bancorp, Inc. | 204 | 7,956 | ||||||
SB One Bancorp | 162 | 4,504 | ||||||
Seacoast Banking Corp. of Florida* | 357 | 11,288 | ||||||
Select Bancorp, Inc.* | 169 | 2,165 | ||||||
Selective Insurance Group, Inc. | 168 | 10,786 | ||||||
ServisFirst Bancshares, Inc. (a) | 208 | 8,965 | ||||||
Shore Bancshares, Inc. | 325 | 6,107 | ||||||
SI Financial Group, Inc. | 329 | 4,557 | ||||||
Sierra Bancorp | 321 | 9,524 | ||||||
Silvercrest Asset Management Group, Inc., Class A | 317 | 5,024 | ||||||
Simmons First National Corp., Class A | 169 | 5,340 | ||||||
SmartFinancial, Inc.* | 167 | 4,105 | ||||||
South State Corp. | 43 | 3,545 | ||||||
Southern First Bancshares, Inc.* | 203 | 8,445 | ||||||
Southern Missouri Bancorp, Inc. | 162 | 6,480 | ||||||
Southern National Bancorp of Virginia, Inc. | 298 | 5,230 | ||||||
Southside Bancshares, Inc. (a) | 207 | 7,369 | ||||||
State Auto Financial Corp. (a) | 148 | 4,646 | ||||||
State Bank Financial Corp. | 378 | 12,315 | ||||||
Sterling Bancorp, Inc. | 188 | 2,303 | ||||||
Stewart Information Services Corp. | 359 | 16,076 | ||||||
Stifel Financial Corp. | 147 | 8,213 | ||||||
Stock Yards Bancorp, Inc. | 255 | 9,869 | ||||||
Summit Financial Group, Inc. | 291 | 7,333 | ||||||
Sutherland Asset Management Corp. REIT | 650 | 11,148 | ||||||
Territorial Bancorp, Inc. | 185 | 5,528 | ||||||
Third Point Reinsurance Ltd.* | 909 | 12,181 | ||||||
Timberland Bancorp, Inc. | 274 | 9,730 | ||||||
Tiptree, Inc. | 307 | 1,996 | ||||||
Tompkins Financial Corp. (a) | 127 | 11,159 | ||||||
Towne Bank | 199 | 6,487 | ||||||
TPG RE Finance Trust, Inc. REIT | 295 | 6,092 | ||||||
TriCo Bancshares | 472 | 18,351 | ||||||
TriState Capital Holdings, Inc.* | 256 | 7,616 | ||||||
Triumph Bancorp, Inc.* | 398 | 16,895 | ||||||
Trupanion, Inc.* | 208 | 7,944 | ||||||
TrustCo Bank Corp. | 1,429 | 13,218 | ||||||
Trustmark Corp. (a) | 241 | 8,551 | ||||||
UMB Financial Corp. | 69 | 5,192 | ||||||
Union Bankshares Corp. | 166 | 6,906 | ||||||
Union Bankshares, Inc. | 89 | 4,673 | ||||||
United Bankshares, Inc. (a) | 68 | 2,679 | ||||||
United Community Banks, Inc. | 269 | 8,161 | ||||||
United Community Financial Corp. | 1,099 | 11,375 | ||||||
United Financial Bancorp, Inc. | 540 | 9,596 |
Number | Value | |||||||
Financials (Continued) | ||||||||
United Fire Group, Inc. | 251 | $ | 12,432 | |||||
United Insurance Holdings Corp. (a) | 187 | 3,895 | ||||||
United Security Bancshares | 457 | 5,073 | ||||||
Unity Bancorp, Inc. | 294 | 7,174 | ||||||
Universal Insurance Holdings, Inc. | 589 | 26,269 | ||||||
Univest Corp. of Pennsylvania | 421 | 11,999 | ||||||
Valley National Bancorp | 413 | 4,977 | ||||||
Veritex Holdings, Inc.* | 244 | 7,471 | ||||||
Virtus Investment Partners, Inc. (a) | 27 | 3,483 | ||||||
Waddell & Reed Financial, Inc., Class A (a) | 763 | 15,275 | ||||||
Walker & Dunlop, Inc. | 344 | 18,748 | ||||||
Washington Federal, Inc. (a) | 194 | 6,615 | ||||||
Washington Trust Bancorp, Inc. | 167 | 10,020 | ||||||
Waterstone Financial, Inc. | 529 | 8,940 | ||||||
WesBanco, Inc. | 432 | 21,319 | ||||||
West Bancorporation, Inc. | 305 | 7,366 | ||||||
Westamerica Bancorporation (a) | 121 | 7,748 | ||||||
Western Asset Mortgage Capital Corp. REIT | 1,461 | 16,261 | ||||||
Western New England Bancorp, Inc. | 565 | 6,017 | ||||||
Westwood Holdings Group, Inc. | 232 | 13,347 | ||||||
WisdomTree Investments, Inc. (a) | 310 | 2,548 | ||||||
WMIH Corp.* | 1,482 | 2,238 | ||||||
World Acceptance Corp.*(a) | 87 | 10,319 | ||||||
WSFS Financial Corp. | 243 | 11,858 | ||||||
|
| |||||||
3,237,580 | ||||||||
|
| |||||||
Health Care — 7.2% | ||||||||
Accuray, Inc.*(a) | 499 | 1,996 | ||||||
Acorda Therapeutics, Inc.*(a) | 59 | 1,699 | ||||||
Addus HomeCare Corp.* | 176 | 11,422 | ||||||
Allscripts Healthcare Solutions, Inc.* | 338 | 4,938 | ||||||
AMAG Pharmaceuticals, Inc.* | 156 | 3,806 | ||||||
Amedisys, Inc.* | 69 | 8,626 | ||||||
American Renal Associates Holdings, Inc.*(a) | 134 | 2,941 | ||||||
AMN Healthcare Services, Inc.*(a) | 177 | 10,319 | ||||||
Amphastar Pharmaceuticals, Inc.*(a) | 338 | 6,415 | ||||||
AngioDynamics, Inc.* | 803 | 18,003 | ||||||
ANI Pharmaceuticals, Inc.*(a) | 54 | 3,143 | ||||||
Anika Therapeutics, Inc.* | 140 | 5,795 | ||||||
AtriCure, Inc.*(a) | 78 | 2,695 | ||||||
Atrion Corp. | 16 | 10,481 | ||||||
Audentes Therapeutics, Inc.* | 54 | 1,966 | ||||||
Avanos Medical, Inc.* | 45 | 3,244 | ||||||
AxoGen, Inc.*(a) | 47 | 2,061 | ||||||
BioSpecifics Technologies Corp.* | 60 | 3,218 | ||||||
Brookdale Senior Living, Inc.* | 263 | 2,609 | ||||||
Cambrex Corp.*(a) | 130 | 8,762 | ||||||
Capital Senior Living Corp.*(a) | 59 | 523 | ||||||
Cardiovascular Systems, Inc.* | 139 | 5,356 | ||||||
CareDx, Inc.* | 151 | 3,671 | ||||||
Civitas Solutions, Inc.* | 241 | 3,856 | ||||||
Computer Programs & Systems, Inc. (a) | 81 | 2,211 | ||||||
Concert Pharmaceuticals, Inc.* | 241 | 3,801 | ||||||
CONMED Corp. | 145 | 11,662 | ||||||
Corcept Therapeutics, Inc.* | 216 | 3,244 |
See Notes to Financial Statements. | 61 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 2000 Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
Health Care (Continued) | ||||||||
CorVel Corp.* | 200 | $ | 11,890 | |||||
Cross Country Healthcare, Inc.* | 160 | 1,602 | ||||||
CryoLife, Inc.*(a) | 135 | 4,684 | ||||||
Cutera, Inc.*(a) | 599 | 20,366 | ||||||
CytomX Therapeutics, Inc.* | 290 | 6,522 | ||||||
Diplomat Pharmacy, Inc.*(a) | 26 | 537 | ||||||
Emergent BioSolutions, Inc.* | 170 | 10,540 | ||||||
Enanta Pharmaceuticals, Inc.*(a) | 83 | 7,547 | ||||||
ENDO International PLC*(a) | 237 | 4,065 | ||||||
Ensign Group, Inc. | 591 | 23,090 | ||||||
Evolus, Inc.* | 69 | 1,766 | ||||||
FONAR Corp.* | 71 | 1,860 | ||||||
Genomic Health, Inc.* | 99 | 6,056 | ||||||
Glaukos Corp.*(a) | 61 | 4,171 | ||||||
Globus Medical, Inc., Class A* | 152 | 8,097 | ||||||
Haemonetics Corp.* | 118 | 13,174 | ||||||
Halozyme Therapeutics, Inc.* | 126 | 2,320 | ||||||
Harvard Bioscience, Inc.* | 727 | 4,326 | ||||||
HealthEquity, Inc.*(a) | 62 | 5,841 | ||||||
HealthStream, Inc. | 239 | 7,583 | ||||||
Heska Corp.*(a) | 43 | 4,601 | ||||||
HMS Holdings Corp.* | 247 | 7,916 | ||||||
Homology Medicines, Inc.*(a) | 111 | 1,848 | ||||||
Horizon Pharma PLC* | 125 | 2,643 | ||||||
Innoviva, Inc.* | 508 | 7,376 | ||||||
Inogen, Inc.* | 28 | 7,417 | ||||||
Inovalon Holdings, Inc., Class A*(a) | 208 | 2,288 | ||||||
Integer Holdings Corp.* | 116 | 9,268 | ||||||
Intersect ENT, Inc.* | 74 | 2,168 | ||||||
IntriCon Corp.* | 83 | 6,134 | ||||||
Invacare Corp. (a) | 98 | 1,490 | ||||||
iRhythm Technologies, Inc.*(a) | 42 | 3,910 | ||||||
Ironwood Pharmaceuticals, Inc.* | 57 | 1,097 | ||||||
K2M Group Holdings, Inc.*(a) | 121 | 3,308 | ||||||
Lannett Co., Inc.*(a) | 102 | 546 | ||||||
LeMaitre Vascular, Inc. (a) | 253 | 9,490 | ||||||
LHC Group, Inc.* | 41 | 4,056 | ||||||
LifePoint Health, Inc.* | 157 | 10,111 | ||||||
Ligand Pharmaceuticals, Inc.*(a) | 22 | 5,713 | ||||||
LivaNova PLC* | 44 | 5,524 | ||||||
Luminex Corp. | 677 | 19,098 | ||||||
MacroGenics, Inc.*(a) | 139 | 3,040 | ||||||
Magellan Health, Inc.* | 206 | 15,141 | ||||||
Mallinckrodt PLC* | 113 | 3,894 | ||||||
MediciNova, Inc.* | 287 | 3,493 | ||||||
Medidata Solutions, Inc.*(a) | 26 | 2,209 | ||||||
Medpace Holdings, Inc.* | 128 | 7,653 | ||||||
Meridian Bioscience, Inc. | 777 | 12,199 | ||||||
Merit Medical Systems, Inc.*(a) | 170 | 10,004 | ||||||
Momenta Pharmaceuticals, Inc.* | 149 | 3,949 | ||||||
Myriad Genetics, Inc.* | 178 | 8,863 | ||||||
National HealthCare Corp. | 201 | 15,491 | ||||||
National Research Corp., Class A | 230 | 9,005 | ||||||
Natus Medical, Inc.*(a) | 111 | 4,140 | ||||||
Neogen Corp.*(a) | 90 | 8,410 | ||||||
NeoGenomics, Inc.* | 232 | 3,213 | ||||||
Nevro Corp.*(a) | 19 | 1,281 |
Number | Value | |||||||
Health Care (Continued) | ||||||||
NuVasive, Inc.* | 15 | $ | 1,053 | |||||
NxStage Medical, Inc.* | 284 | 8,049 | ||||||
Omnicell, Inc.*(a) | 96 | 6,600 | ||||||
OraSure Technologies, Inc.* | 183 | 2,930 | ||||||
Orthofix Medical, Inc.* | 320 | 17,139 | ||||||
Oxford Immunotec Global PLC* | 156 | 2,296 | ||||||
Palatin Technologies, Inc.* | 2,343 | 2,366 | ||||||
Patterson Cos., Inc. | 127 | 2,864 | ||||||
PDL BioPharma, Inc.* | 7,853 | 19,004 | ||||||
Phibro Animal Health Corp., Class A | 209 | 9,865 | ||||||
Pieris Pharmaceuticals, Inc.* | 423 | 2,343 | ||||||
Prestige Consumer Healthcare, Inc.*(a) | 67 | 2,580 | ||||||
Providence Service Corp.* | 377 | 25,312 | ||||||
Quality Systems, Inc.* | 236 | 5,402 | ||||||
Quidel Corp.* | 32 | 2,460 | ||||||
R1 RCM, Inc.* | 240 | 2,393 | ||||||
RadNet, Inc.* | 1,256 | 17,396 | ||||||
Retrophin, Inc.* | 80 | 2,535 | ||||||
RTI Surgical, Inc.* | 352 | 1,575 | ||||||
Select Medical Holdings Corp.* | 589 | 11,662 | ||||||
Simulations Plus, Inc. | 324 | 6,755 | ||||||
Solid Biosciences, Inc.* | 52 | 2,219 | ||||||
STAAR Surgical Co.* | 322 | 15,359 | ||||||
Supernus Pharmaceuticals, Inc.* | 100 | 4,430 | ||||||
Surmodics, Inc.* | 359 | 28,271 | ||||||
Tactile Systems Technology, Inc.*(a) | 212 | 14,346 | ||||||
Tenet Healthcare Corp.* | 275 | 9,273 | ||||||
Tivity Health, Inc.*(a) | 180 | 6,192 | ||||||
Triple-S Management Corp., Class B* | 375 | 8,164 | ||||||
Tyme Technologies, Inc.* | 595 | 1,327 | ||||||
US Physical Therapy, Inc. | 235 | 29,434 | ||||||
Utah Medical Products, Inc. | 169 | 15,354 | ||||||
Vanda Pharmaceuticals, Inc.* | 116 | 2,242 | ||||||
Varex Imaging Corp.*(a) | 204 | 6,406 | ||||||
Vocera Communications, Inc.* | 131 | 4,344 | ||||||
Wright Medical Group NV* | 1 | 29 | ||||||
Xencor, Inc.*(a) | 60 | 2,507 | ||||||
|
| |||||||
824,963 | ||||||||
|
| |||||||
Industrials — 16.9% | ||||||||
AAON, Inc. (a) | 118 | 4,767 | ||||||
AAR Corp. | 272 | 12,694 | ||||||
Acacia Research Corp.* | 531 | 2,071 | ||||||
ACCO Brands Corp. | 845 | 10,478 | ||||||
Actuant Corp., Class A (a) | 167 | 4,918 | ||||||
Advanced Disposal Services, Inc.* | 329 | 8,778 | ||||||
Advanced Drainage Systems, Inc. | 321 | 10,063 | ||||||
Aegion Corp.*(a) | 524 | 13,079 | ||||||
Aerojet Rocketdyne Holdings, Inc.* | 458 | 16,080 | ||||||
Air Transport Services Group, Inc.* | 349 | 7,102 | ||||||
Aircastle Ltd. | 265 | 5,544 | ||||||
Alamo Group, Inc. | 119 | 11,341 | ||||||
Albany International Corp., Class A | 116 | 8,949 | ||||||
Allegiant Travel Co. (a) | 43 | 5,859 | ||||||
Allied Motion Technologies, Inc. | 98 | 4,786 | ||||||
Altra Industrial Motion Corp. (a) | 220 | 8,591 | ||||||
Ameresco, Inc., Class A* | 16 | 230 |
See Notes to Financial Statements. | 62 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 2000 Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
Industrials (Continued) | ||||||||
American Railcar Industries, Inc. | 67 | $ | 3,070 | |||||
Apogee Enterprises, Inc. (a) | 113 | 5,562 | ||||||
Applied Industrial Technologies, Inc. | 174 | 13,407 | ||||||
ArcBest Corp. | 464 | 22,318 | ||||||
Argan, Inc. | 96 | 3,821 | ||||||
Armstrong Flooring, Inc.* | 230 | 4,027 | ||||||
ASGN, Inc.* | 100 | 9,259 | ||||||
Astec Industries, Inc. (a) | 163 | 7,930 | ||||||
Astronics Corp.* | 83 | 3,611 | ||||||
Atkore International Group, Inc.* | 210 | 5,750 | ||||||
Atlas Air Worldwide Holdings, Inc.* | 172 | 10,475 | ||||||
Avis Budget Group, Inc.* | 246 | 7,653 | ||||||
Axon Enterprise, Inc.*(a) | 65 | 4,437 | ||||||
AZZ, Inc. | 95 | 5,106 | ||||||
Barnes Group, Inc. | 99 | 6,738 | ||||||
Barrett Business Services, Inc. | 162 | 12,155 | ||||||
Beacon Roofing Supply, Inc.* | 95 | 3,523 | ||||||
Blue Bird Corp.*(a) | 375 | 8,606 | ||||||
BlueLinx Holdings, Inc.* | 65 | 2,335 | ||||||
BMC Stock Holdings, Inc.* | 404 | 9,090 | ||||||
Brady Corp., Class A | 315 | 12,742 | ||||||
Briggs & Stratton Corp. (a) | 331 | 6,673 | ||||||
Brink’s Co. | 10 | 751 | ||||||
Builders FirstSource, Inc.* | 225 | 3,514 | ||||||
Caesarstone Ltd. (a) | 16 | 303 | ||||||
CAI International, Inc.*(a) | 217 | 5,857 | ||||||
Casella Waste Systems, Inc., Class A* | 637 | 18,078 | ||||||
CBIZ, Inc.* | 839 | 20,052 | ||||||
Chart Industries, Inc.*(a) | 51 | 3,853 | ||||||
Cimpress NV* | 22 | 3,080 | ||||||
Columbus McKinnon Corp. | 393 | 16,714 | ||||||
Comfort Systems USA, Inc. | 248 | 14,235 | ||||||
Commercial Vehicle Group, Inc.* | 609 | 5,944 | ||||||
Continental Building Products, Inc.* | 461 | 17,195 | ||||||
Costamare, Inc. | 621 | 4,366 | ||||||
Covanta Holding Corp. (a) | 354 | 6,248 | ||||||
Covenant Transportation Group, Inc., Class A* | 281 | 8,393 | ||||||
CRA International, Inc. | 459 | 26,236 | ||||||
CSW Industrials, Inc.* | 412 | 23,072 | ||||||
Cubic Corp. (a) | 155 | 11,733 | ||||||
Daseke, Inc.*(a) | 858 | 7,713 | ||||||
Deluxe Corp. | 148 | 8,765 | ||||||
DMC Global, Inc. | 139 | 5,456 | ||||||
Douglas Dynamics, Inc. | 470 | 21,526 | ||||||
Ducommun, Inc.* | 83 | 3,377 | ||||||
DXP Enterprises, Inc.* | 58 | 2,662 | ||||||
Dycom Industries, Inc.*(a) | 50 | 4,195 | ||||||
Eastern Co. | 147 | 4,336 | ||||||
Echo Global Logistics, Inc.* | 519 | 17,231 | ||||||
EMCOR Group, Inc. | 130 | 10,413 | ||||||
Encore Wire Corp. | 354 | 17,788 | ||||||
EnerSys | 76 | 6,307 | ||||||
Engility Holdings, Inc.* | 74 | 2,569 | ||||||
Ennis, Inc. | 1,119 | 24,394 | ||||||
EnPro Industries, Inc. | 102 | 7,657 | ||||||
ESCO Technologies, Inc. | 90 | 6,088 |
Number | Value | |||||||
Industrials (Continued) | ||||||||
Essendant, Inc. | 812 | $ | 11,717 | |||||
Esterline Technologies Corp.* | 30 | 2,579 | ||||||
Evoqua Water Technologies Corp.*(a) | 126 | 2,442 | ||||||
Exponent, Inc. | 307 | 16,071 | ||||||
Federal Signal Corp. | 301 | 7,835 | ||||||
Forrester Research, Inc. (a) | 169 | 8,315 | ||||||
Forward Air Corp. | 259 | 16,643 | ||||||
Foundation Building Materials, Inc.* | 479 | 6,615 | ||||||
Franklin Covey Co.* | 97 | 2,483 | ||||||
Franklin Electric Co., Inc. (a) | 149 | 7,286 | ||||||
FreightCar America, Inc.* | 171 | 2,892 | ||||||
FTI Consulting, Inc.* | 254 | 19,360 | ||||||
GATX Corp. (a) | 107 | 9,036 | ||||||
Gencor Industries, Inc.* | 197 | 2,541 | ||||||
Generac Holdings, Inc.* | 169 | 9,378 | ||||||
General Finance Corp.* | 293 | 3,999 | ||||||
Gibraltar Industries, Inc.*(a) | 190 | 8,626 | ||||||
Global Brass & Copper Holdings, Inc. | 271 | 10,447 | ||||||
GMS, Inc.* | 240 | 5,964 | ||||||
Gorman-Rupp Co. | 302 | 11,071 | ||||||
GP Strategies Corp.* | 58 | 1,105 | ||||||
Graham Corp. | 204 | 5,673 | ||||||
Granite Construction, Inc. (a) | 218 | 9,958 | ||||||
Great Lakes Dredge & Dock Corp.*(a) | 766 | 4,194 | ||||||
Greenbrier Cos., Inc. | 29 | 1,682 | ||||||
Griffon Corp. | 81 | 1,478 | ||||||
H&E Equipment Services, Inc. | 477 | 16,604 | ||||||
Harsco Corp.* | 405 | 11,441 | ||||||
Hawaiian Holdings, Inc. (a) | 148 | 6,142 | ||||||
HC2 Holdings, Inc.*(a) | 158 | 991 | ||||||
Healthcare Services Group, Inc. (a) | 60 | 2,473 | ||||||
Heartland Express, Inc. (a) | 173 | 3,538 | ||||||
Heidrick & Struggles International, Inc. | 660 | 29,172 | ||||||
Herc Holdings, Inc.* | 182 | 9,570 | ||||||
Heritage-Crystal Clean, Inc.* | 472 | 10,998 | ||||||
Herman Miller, Inc. | 429 | 16,431 | ||||||
Hertz Global Holdings, Inc.* | 124 | 2,184 | ||||||
Hillenbrand, Inc. | 269 | 13,759 | ||||||
HNI Corp. | 156 | 6,880 | ||||||
Hub Group, Inc., Class A* | 168 | 8,879 | ||||||
Hurco Cos., Inc. | 322 | 13,814 | ||||||
Huron Consulting Group, Inc.* | 97 | 4,802 | ||||||
Hyster-Yale Materials Handling, Inc. | 96 | 5,923 | ||||||
ICF International, Inc. | 327 | 26,700 | ||||||
IES Holdings, Inc.*(a) | 242 | 4,634 | ||||||
InnerWorkings, Inc.*(a) | 342 | 2,674 | ||||||
Insperity, Inc. | 136 | 16,300 | ||||||
Insteel Industries, Inc. | 235 | 9,012 | ||||||
Interface, Inc. | 638 | 15,025 | ||||||
JELD-WEN Holding, Inc.* | 56 | 1,362 | ||||||
John Bean Technologies Corp. | 35 | 4,141 | ||||||
Kadant, Inc. | 72 | 7,276 | ||||||
Kaman Corp. | 181 | 11,803 | ||||||
KBR, Inc. | 690 | 14,476 | ||||||
Kelly Services, Inc., Class A | 349 | 8,798 | ||||||
Kennametal, Inc. (a) | 106 | 4,329 | ||||||
Kforce, Inc. | 474 | 19,932 |
See Notes to Financial Statements. | 63 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 2000 Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
Industrials (Continued) | ||||||||
Kimball International, Inc., Class B | 605 | $ | 10,569 | |||||
KLX, Inc.* | 83 | 6,129 | ||||||
Knoll, Inc. | 469 | 11,040 | ||||||
Korn/Ferry International | 279 | 18,729 | ||||||
Kratos Defense & Security Solutions, Inc.*(a) | 125 | 1,670 | ||||||
Lawson Products, Inc.* | 42 | 1,415 | ||||||
LB Foster Co., Class A* | 176 | 4,004 | ||||||
Lindsay Corp. (a) | 100 | 9,577 | ||||||
LSC Communications, Inc. (a) | 68 | 832 | ||||||
Lydall, Inc.* | 169 | 7,233 | ||||||
Manitex International, Inc.* | 303 | 3,206 | ||||||
Manitowoc Co., Inc.* | 321 | 7,444 | ||||||
Marten Transport Ltd. | 578 | 12,745 | ||||||
Masonite International Corp.* | 91 | 6,092 | ||||||
MasTec, Inc.*(a) | 81 | 3,548 | ||||||
Matson, Inc. | 292 | 10,909 | ||||||
Matthews International Corp., Class A (a) | 81 | 4,204 | ||||||
McGrath RentCorp | 373 | 21,634 | ||||||
Mercury Systems, Inc.*(a) | 70 | 3,816 | ||||||
Meritor, Inc.* | 257 | 5,567 | ||||||
Milacron Holdings Corp.* | 218 | 4,622 | ||||||
Miller Industries, Inc. | 407 | 11,722 | ||||||
Mistras Group, Inc.* | 128 | 2,920 | ||||||
Mobile Mini, Inc. | 247 | 10,596 | ||||||
Moog, Inc., Class A | 115 | 9,075 | ||||||
MRC Global, Inc.*(a) | 373 | 7,688 | ||||||
MSA Safety, Inc. | 23 | 2,325 | ||||||
Mueller Industries, Inc. | 453 | 14,482 | ||||||
Mueller Water Products, Inc., Class A | 203 | 2,349 | ||||||
MYR Group, Inc.* | 411 | 14,290 | ||||||
National Presto Industries, Inc. | 73 | 9,680 | ||||||
Navigant Consulting, Inc.* | 850 | 20,307 | ||||||
Navistar International Corp.* | 19 | 828 | ||||||
NCI Building Systems, Inc.* | 382 | 6,456 | ||||||
Nexeo Solutions, Inc.*(a) | 731 | 7,317 | ||||||
NN, Inc. (a) | 79 | 1,580 | ||||||
NOW, Inc.*(a) | 90 | 1,547 | ||||||
NV5 Global, Inc.* | 87 | 7,695 | ||||||
Omega Flex, Inc. | 29 | 2,574 | ||||||
Orion Group Holdings, Inc.* | 570 | 4,913 | ||||||
PAM Transportation Services, Inc.* | 89 | 5,186 | ||||||
Park-Ohio Holdings Corp. | 118 | 4,891 | ||||||
Patrick Industries, Inc.*(a) | 48 | 3,072 | ||||||
PGT Innovations, Inc.* | 632 | 15,358 | ||||||
Pitney Bowes, Inc. | 268 | 1,946 | ||||||
Powell Industries, Inc. (a) | 107 | 4,189 | ||||||
Preformed Line Products Co. | 168 | 13,726 | ||||||
Primoris Services Corp. | 524 | 13,131 | ||||||
Proto Labs, Inc.* | 61 | 9,482 | ||||||
Quad/Graphics, Inc. (a) | 290 | 6,603 | ||||||
Quanex Building Products Corp. | 310 | 5,084 | ||||||
Radiant Logistics, Inc.* | 6 | 26 | ||||||
Raven Industries, Inc. | 272 | 13,165 | ||||||
RBC Bearings, Inc.* | 50 | 7,491 | ||||||
Reis, Inc. | 117 | 2,697 | ||||||
Resources Connection, Inc. | 1,095 | 18,122 |
Number | Value | |||||||
Industrials (Continued) | ||||||||
Rexnord Corp.* | 222 | $ | 6,445 | |||||
RR Donnelley & Sons Co. (a) | 449 | 2,272 | ||||||
Rush Enterprises, Inc., Class A | 258 | 11,084 | ||||||
Rush Enterprises, Inc., Class B | 76 | 3,367 | ||||||
Saia, Inc.* | 158 | 12,522 | ||||||
Simpson Manufacturing Co., Inc. (a) | 199 | 15,277 | ||||||
SiteOne Landscape Supply, Inc.*(a) | 41 | 3,705 | ||||||
SkyWest, Inc. | 195 | 12,734 | ||||||
SP Plus Corp.* | 412 | 16,027 | ||||||
Spartan Motors, Inc. | 1,260 | 18,207 | ||||||
Sparton Corp.* | 251 | 3,205 | ||||||
Spirit Airlines, Inc.* | 57 | 2,709 | ||||||
SPX Corp.* | 257 | 8,735 | ||||||
SPX FLOW, Inc.* | 110 | 5,273 | ||||||
Standex International Corp. | 50 | 5,395 | ||||||
Steelcase, Inc., Class A | 639 | 9,329 | ||||||
Sterling Construction Co., Inc.* | 288 | 4,190 | ||||||
Sun Hydraulics Corp. (a) | 181 | 9,112 | ||||||
Sunrun, Inc.*(a) | 227 | 2,978 | ||||||
Systemax, Inc. | 91 | 3,322 | ||||||
Team, Inc.*(a) | 104 | 2,423 | ||||||
Tennant Co. | 8 | 612 | ||||||
Tetra Tech, Inc. | 139 | 9,702 | ||||||
Textainer Group Holdings Ltd.*(a) | 200 | 3,020 | ||||||
Thermon Group Holdings, Inc.* | 264 | 7,075 | ||||||
Titan International, Inc. | 56 | 419 | ||||||
Titan Machinery, Inc.*(a) | 286 | 5,165 | ||||||
TPI Composites, Inc.*(a) | 284 | 7,961 | ||||||
Trex Co., Inc.*(a) | 61 | 5,167 | ||||||
TriMas Corp.* | 513 | 15,749 | ||||||
TriNet Group, Inc.* | 73 | 4,312 | ||||||
Triton International Ltd/Bermuda (a) | 114 | 4,307 | ||||||
TrueBlue, Inc.* | 382 | 11,193 | ||||||
Tutor Perini Corp.*(a) | 77 | 1,567 | ||||||
Twin Disc, Inc.* | 127 | 3,245 | ||||||
UniFirst Corp. | 64 | 11,853 | ||||||
Universal Forest Products, Inc. | 497 | 18,618 | ||||||
Universal Logistics Holdings, Inc. | 321 | 11,749 | ||||||
US Ecology, Inc. (a) | 148 | 10,767 | ||||||
USA Truck, Inc.* | 336 | 7,362 | ||||||
Vectrus, Inc.* | 54 | 1,772 | ||||||
Viad Corp. | 332 | 20,451 | ||||||
VSE Corp. | 206 | 7,947 | ||||||
Wabash National Corp. | 132 | 2,408 | ||||||
WageWorks, Inc.*(a) | 32 | 1,712 | ||||||
Watts Water Technologies, Inc., Class A | 145 | 11,955 | ||||||
Werner Enterprises, Inc. (a) | 283 | 10,485 | ||||||
Willdan Group, Inc.*(a) | 43 | 1,349 | ||||||
Willis Lease Finance Corp.* | 121 | 4,148 | ||||||
Woodward, Inc. | 34 | 2,739 | ||||||
|
| |||||||
1,923,790 | ||||||||
|
| |||||||
Information Technology — 10.5% | ||||||||
8x8, Inc.* | 226 | 5,130 | ||||||
ACI Worldwide, Inc.* | 136 | 3,864 | ||||||
Acxiom Corp.* | 179 | 8,179 | ||||||
Advanced Energy Industries, Inc.* | 95 | 5,660 |
See Notes to Financial Statements. | 64 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 2000 Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
Information Technology (Continued) | ||||||||
Agilysys, Inc.* | 312 | $ | 5,014 | |||||
Alarm.com Holdings, Inc.*(a) | 70 | 3,940 | ||||||
Alpha & Omega Semiconductor Ltd.* | 242 | 3,439 | ||||||
Ambarella, Inc*(a) | 45 | 1,724 | ||||||
American Software, Inc., Class A | 772 | 13,881 | ||||||
Amkor Technology, Inc.* | 184 | 1,606 | ||||||
Anixter International, Inc.* | 72 | 5,191 | ||||||
Appfolio, Inc., Class A* | 235 | 20,069 | ||||||
Apptio, Inc., Class A* | 103 | 3,996 | ||||||
Avaya Holdings Corp.* | 170 | 3,971 | ||||||
AVX Corp. | 252 | 5,330 | ||||||
Axcelis Technologies, Inc.* | 303 | 6,121 | ||||||
AXT, Inc.*(a) | 313 | 2,473 | ||||||
Badger Meter, Inc. (a) | 233 | 12,803 | ||||||
Bel Fuse, Inc., Class B | 40 | 1,146 | ||||||
Belden, Inc. (a) | 63 | 4,581 | ||||||
Benchmark Electronics, Inc. | 406 | 10,495 | ||||||
Blackbaud, Inc. (a) | 33 | 3,451 | ||||||
Blackline, Inc.*(a) | 56 | 2,955 | ||||||
Bottomline Technologies DE, Inc.* | 227 | 14,975 | ||||||
Box, Inc., Class A* | 184 | 4,519 | ||||||
Brooks Automation, Inc. (a) | 264 | 10,404 | ||||||
Cabot Microelectronics Corp. | 114 | 12,851 | ||||||
CACI International, Inc., Class A* | 51 | 9,945 | ||||||
CalAmp Corp.* | 227 | 5,334 | ||||||
Carbonite, Inc.* | 34 | 1,413 | ||||||
Cardtronics PLC, Class A* | 76 | 2,667 | ||||||
Care.com, Inc.* | 189 | 3,672 | ||||||
Cars.com, Inc.* | 307 | 8,261 | ||||||
Cass Information Systems, Inc. (a) | 83 | 5,937 | ||||||
CEVA, Inc.* | 79 | 2,417 | ||||||
Ciena Corp.* | 218 | 6,884 | ||||||
Cirrus Logic, Inc.*(a) | 60 | 2,637 | ||||||
Cision Ltd.* | 175 | 3,169 | ||||||
Cohu, Inc. | 697 | 18,387 | ||||||
CommVault Systems, Inc.* | 64 | 4,458 | ||||||
Comtech Telecommunications Corp. | 551 | 19,753 | ||||||
Control4 Corp.* | 137 | 4,440 | ||||||
Convergys Corp. | 515 | 12,736 | ||||||
Cornerstone OnDemand, Inc.* | 56 | 3,167 | ||||||
Coupa Software, Inc.* | 53 | 3,801 | ||||||
Cray, Inc.*(a) | 55 | 1,193 | ||||||
Cree, Inc.*(a) | 107 | 5,148 | ||||||
CSG Systems International, Inc. | 186 | 6,947 | ||||||
CTS Corp. | 615 | 22,724 | ||||||
Daktronics, Inc. (a) | 1,114 | 9,035 | ||||||
Diebold Nixdorf, Inc. (a) | 168 | 798 | ||||||
Digi International, Inc.* | 519 | 6,981 | ||||||
Diodes, Inc.* | 380 | 14,410 | ||||||
Ebix, Inc. (a) | 33 | 2,628 | ||||||
eGain Corp.* | 173 | 2,474 | ||||||
Electro Scientific Industries, Inc.*(a) | 1,446 | 31,740 | ||||||
Electronics For Imaging, Inc.* | 81 | 2,818 | ||||||
Ellie Mae, Inc.*(a) | 2 | 211 | ||||||
Endurance International Group Holdings, Inc.*(a) | 229 | 2,210 | ||||||
Entegris, Inc. | 174 | 5,899 |
Number | Value | |||||||
Information Technology (Continued) | ||||||||
Envestnet, Inc.*(a) | 140 | $ | 8,848 | |||||
ePlus, Inc.* | 206 | 21,352 | ||||||
Etsy, Inc.* | 86 | 4,187 | ||||||
Everbridge, Inc.*(a) | 59 | 3,552 | ||||||
Everi Holdings, Inc.* | 423 | 3,667 | ||||||
EVERTEC, Inc. | 493 | 11,857 | ||||||
ExlService Holdings, Inc.* | 138 | 8,843 | ||||||
Extreme Networks, Inc.* | 300 | 1,881 | ||||||
Fabrinet* | 292 | 13,978 | ||||||
FARO Technologies, Inc.* | 135 | 9,207 | ||||||
Fitbit, Inc., Class A*(a) | 171 | 1,029 | ||||||
Five9, Inc.* | 88 | 4,228 | ||||||
FormFactor, Inc.* | 494 | 7,632 | ||||||
Glu Mobile, Inc.* | 330 | 2,541 | ||||||
GTT Communications, Inc.*(a) | 73 | 3,143 | ||||||
Hackett Group, Inc. | 241 | 4,933 | ||||||
II-VI, Inc.*(a) | 113 | 5,622 | ||||||
Immersion Corp.* | 137 | 1,592 | ||||||
Imperva, Inc.* | 40 | 1,886 | ||||||
Information Services Group, Inc.* | 724 | 3,584 | ||||||
Inphi Corp.* | 64 | 2,372 | ||||||
Insight Enterprises, Inc.* | 8 | 441 | ||||||
Instructure, Inc.*(a) | 123 | 5,037 | ||||||
Integrated Device Technology, Inc.* | 138 | 5,864 | ||||||
InterDigital, Inc. | 86 | 7,104 | ||||||
Iteris, Inc.* | 408 | 2,101 | ||||||
Itron, Inc.* | 26 | 1,726 | ||||||
j2 Global, Inc. (a) | 23 | 1,899 | ||||||
KEMET Corp.* | 359 | 9,277 | ||||||
Kimball Electronics, Inc.* | 693 | 13,721 | ||||||
Knowles Corp.*(a) | 221 | 4,007 | ||||||
KVH Industries, Inc.* | 170 | 2,116 | ||||||
Lattice Semiconductor Corp.* | 333 | 2,727 | ||||||
Leaf Group Ltd.* | 242 | 2,674 | ||||||
Limelight Networks, Inc.* | 1,468 | 7,443 | ||||||
LivePerson, Inc.* | 286 | 7,693 | ||||||
Majesco* | 221 | 1,580 | ||||||
ManTech International Corp., Class A | 444 | 29,446 | ||||||
MAXIMUS, Inc. | 92 | 6,118 | ||||||
Mesa Laboratories, Inc. | 30 | 6,022 | ||||||
Methode Electronics, Inc. | 220 | 8,723 | ||||||
MicroStrategy, Inc., Class A* | 23 | 3,427 | ||||||
MINDBODY, Inc., Class A*(a) | 75 | 2,783 | ||||||
Mitek Systems, Inc.*(a) | 199 | 1,443 | ||||||
Monotype Imaging Holdings, Inc. | 189 | 3,893 | ||||||
MTS Systems Corp. | 184 | 9,954 | ||||||
Nanometrics, Inc.* | 300 | 13,143 | ||||||
Napco Security Technologies, Inc.* | 328 | 4,953 | ||||||
NETGEAR, Inc.*(a) | 297 | 21,042 | ||||||
NetScout Systems, Inc.*(a) | 89 | 2,225 | ||||||
New Relic, Inc.* | 31 | 3,186 | ||||||
NIC, Inc. (a) | 266 | 4,469 | ||||||
Novanta, Inc.* | 111 | 8,503 | ||||||
NVE Corp. | 123 | 13,983 | ||||||
OneSpan, Inc.* | 326 | 6,113 | ||||||
OSI Systems, Inc.*(a) | 49 | 3,817 | ||||||
PAR Technology Corp.* | 352 | 9,039 |
See Notes to Financial Statements. | 65 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 2000 Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
Information Technology (Continued) | ||||||||
Park Electrochemical Corp. | 427 | $ | 9,129 | |||||
Paylocity Holding Corp.* | 50 | 3,972 | ||||||
PC Connection, Inc. | 320 | 12,704 | ||||||
PDF Solutions, Inc.* | 43 | 375 | ||||||
Perficient, Inc.* | 581 | 16,692 | ||||||
Perspecta, Inc. | 138 | 3,210 | ||||||
PFSweb, Inc.* | 657 | 5,657 | ||||||
Photronics, Inc.* | 741 | 7,929 | ||||||
Plantronics, Inc. | 130 | 8,739 | ||||||
Plexus Corp.* | 210 | 13,291 | ||||||
Power Integrations, Inc. | 82 | 6,015 | ||||||
Presidio, Inc.*(a) | 61 | 922 | ||||||
PRGX Global, Inc.* | 904 | 8,633 | ||||||
Progress Software Corp. | 321 | 13,139 | ||||||
PROS Holdings, Inc.* | 59 | 2,176 | ||||||
Q2 Holdings, Inc.*(a) | 87 | 5,420 | ||||||
QAD, Inc., Class A | 156 | 9,461 | ||||||
Qualys, Inc.* | 82 | 7,466 | ||||||
Quantenna Communications, Inc.* | 141 | 2,576 | ||||||
QuinStreet, Inc.* | 631 | 9,572 | ||||||
Quotient Technology, Inc.*(a) | 164 | 2,452 | ||||||
Rambus, Inc.* | 564 | 6,892 | ||||||
Rapid7, Inc.* | 142 | 5,417 | ||||||
Rogers Corp.* | 81 | 11,184 | ||||||
Rosetta Stone, Inc.* | 471 | 7,442 | ||||||
Rudolph Technologies, Inc.* | 416 | 11,565 | ||||||
Sanmina Corp.* | 188 | 5,790 | ||||||
ScanSource, Inc.* | 234 | 9,512 | ||||||
Science Applications International Corp. | 54 | 4,872 | ||||||
SecureWorks Corp., Class A*(a) | 182 | 2,422 | ||||||
Semtech Corp.* | 84 | 5,019 | ||||||
ServiceSource International, Inc.* | 547 | 1,745 | ||||||
Shutterstock, Inc. (a) | 27 | 1,486 | ||||||
Silicon Laboratories, Inc.* | 26 | 2,548 | ||||||
SMART Global Holdings, Inc.*(a) | 55 | 1,814 | ||||||
SPS Commerce, Inc.* | 91 | 8,943 | ||||||
Stamps.com, Inc.*(a) | 19 | 4,721 | ||||||
Stratasys Ltd.*(a) | 102 | 2,545 | ||||||
Sykes Enterprises, Inc.* | 279 | 8,437 | ||||||
Synaptics, Inc.*(a) | 77 | 3,716 | ||||||
Syntel, Inc.* | 117 | 4,767 | ||||||
Tech Data Corp.* | 14 | 1,019 | ||||||
TechTarget, Inc.* | 414 | 9,932 | ||||||
TiVo Corp. | 155 | 2,116 | ||||||
Trade Desk, Inc., Class A*(a) | 23 | 3,263 | ||||||
Travelport Worldwide Ltd. | 614 | 11,402 | ||||||
Travelzoo* | 136 | 1,686 | ||||||
TTEC Holdings, Inc. | 31 | 812 | ||||||
TTM Technologies, Inc.*(a) | 355 | 6,639 | ||||||
Tucows, Inc., Class A*(a) | 29 | 1,698 | ||||||
Ultra Clean Holdings, Inc.*(a) | 225 | 3,434 | ||||||
Unisys Corp.*(a) | 149 | 2,771 | ||||||
Varonis Systems, Inc.* | 61 | 4,508 | ||||||
Verint Systems, Inc.* | 81 | 3,933 | ||||||
ViaSat, Inc.*(a) | 15 | 942 | ||||||
Viavi Solutions, Inc.* | 349 | 3,909 | ||||||
Virtusa Corp.* | 297 | 17,303 |
Number | Value | |||||||
Information Technology (Continued) | ||||||||
Vishay Intertechnology, Inc. | 820 | $ | 19,516 | |||||
Vishay Precision Group, Inc.* | 429 | 18,576 | ||||||
Web.com Group, Inc.* | 186 | 5,199 | ||||||
Workiva, Inc.* | 165 | 6,080 | ||||||
Xcerra Corp.* | 1,006 | 14,567 | ||||||
XO Group, Inc.* | 593 | 17,826 | ||||||
Xperi Corp. | 140 | 2,198 | ||||||
Yelp, Inc.* | 120 | 5,654 | ||||||
Zix Corp.* | 353 | 1,959 | ||||||
|
| |||||||
1,202,997 | ||||||||
|
| |||||||
Materials — 4.4% | ||||||||
Advanced Emissions Solutions, Inc. | 241 | 2,752 | ||||||
AdvanSix, Inc.* | 489 | 16,548 | ||||||
Allegheny Technologies, Inc.*(a) | 98 | 2,649 | ||||||
American Vanguard Corp. | 497 | 10,884 | ||||||
Balchem Corp. | 60 | 6,653 | ||||||
Boise Cascade Co. (a) | 487 | 21,282 | ||||||
Carpenter Technology Corp. | 115 | 6,862 | ||||||
Chase Corp. | 69 | 8,553 | ||||||
Clearwater Paper Corp.* | 69 | 2,004 | ||||||
Coeur Mining, Inc.*(a) | 284 | 1,613 | ||||||
Commercial Metals Co. | 452 | 9,763 | ||||||
Compass Minerals International, Inc. (a) | 148 | 9,257 | ||||||
Ferro Corp.* | 347 | 7,617 | ||||||
FutureFuel Corp. | 412 | 6,110 | ||||||
GCP Applied Technologies, Inc.* | 139 | 3,503 | ||||||
Gold Resource Corp. (a) | 868 | 4,479 | ||||||
Greif, Inc., Class A | 89 | 4,911 | ||||||
Greif, Inc., Class B | 16 | 910 | ||||||
Hawkins, Inc. | 84 | 3,469 | ||||||
Haynes International, Inc. (a) | 211 | 8,313 | ||||||
HB Fuller Co. (a) | 25 | 1,425 | ||||||
Hecla Mining Co. | 161 | 457 | ||||||
Ingevity Corp.* | 98 | 9,899 | ||||||
Innophos Holdings, Inc. | 154 | 6,731 | ||||||
Innospec, Inc. | 174 | 13,502 | ||||||
Kaiser Aluminum Corp. | 163 | 17,863 | ||||||
KapStone Paper and Packaging Corp. | 207 | 7,110 | ||||||
KMG Chemicals, Inc. | 20 | 1,550 | ||||||
Koppers Holdings, Inc.* | 253 | 8,969 | ||||||
Kraton Corp.* | 425 | 19,988 | ||||||
Kronos Worldwide, Inc. (a) | 88 | 1,771 | ||||||
Louisiana-Pacific Corp. | 298 | 8,690 | ||||||
Materion Corp. | 527 | 33,623 | ||||||
Minerals Technologies, Inc. | 83 | 5,573 | ||||||
Myers Industries, Inc. | 343 | 7,632 | ||||||
Neenah, Inc. (a) | 108 | 9,855 | ||||||
Olympic Steel, Inc. | 216 | 4,761 | ||||||
OMNOVA Solutions, Inc.* | 414 | 3,747 | ||||||
PH Glatfelter Co. (a) | 325 | �� | 6,250 | |||||
PolyOne Corp. | 129 | 5,452 | ||||||
Quaker Chemical Corp. | 60 | 10,808 | ||||||
Rayonier Advanced Materials, Inc. (a) | 53 | 1,108 | ||||||
Schnitzer Steel Industries, Inc., Class A (a) | 1,209 | 31,857 | ||||||
Schweitzer-Mauduit International, Inc. | 236 | 9,603 | ||||||
Sensient Technologies Corp. (a) | 57 | 4,048 |
See Notes to Financial Statements. | 66 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 2000 Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
Materials (Continued) | ||||||||
Stepan Co. | 101 | $ | 9,010 | |||||
Summit Materials, Inc., Class A*(a) | 92 | 1,957 | ||||||
SunCoke Energy, Inc.* | 479 | 5,346 | ||||||
Synalloy Corp. | 465 | 10,672 | ||||||
TimkenSteel Corp.*(a) | 128 | 1,793 | ||||||
Trecora Resources* | 386 | 5,404 | ||||||
Tredegar Corp. | 735 | 16,133 | ||||||
Trinseo SA | 116 | 8,949 | ||||||
Tronox Ltd., Class A (a) | 97 | 1,570 | ||||||
UFP Technologies, Inc.* | 251 | 8,848 | ||||||
United States Lime & Minerals, Inc. | 34 | 2,580 | ||||||
Universal Stainless & Alloy Products, Inc.* | 113 | 3,422 | ||||||
US Concrete, Inc.*(a) | 28 | 1,350 | ||||||
Verso Corp., Class A* | 429 | 13,466 | ||||||
Warrior Met Coal, Inc. (a) | 1,393 | 33,502 | ||||||
Worthington Industries, Inc. | 141 | 6,568 | ||||||
|
| |||||||
500,974 | ||||||||
|
| |||||||
Real Estate — 6.3% | ||||||||
Acadia Realty Trust REIT (a) | 183 | 5,219 | ||||||
Agree Realty Corp. REIT | 191 | 10,900 | ||||||
Alexander & Baldwin, Inc. REIT (a) | 348 | 8,168 | ||||||
Alexander’s, Inc. REIT | 6 | 2,166 | ||||||
Altisource Portfolio Solutions SA*(a) | 68 | 2,458 | ||||||
American Assets Trust, Inc. REIT | 131 | 5,175 | ||||||
Americold Realty Trust REIT | 99 | 2,465 | ||||||
Armada Hoffler Properties, Inc. REIT | 758 | 11,817 | ||||||
Ashford Hospitality Trust, Inc. REIT | 1,426 | 9,255 | ||||||
Bluerock Residential Growth REIT, Inc. REIT (a) | 85 | 841 | ||||||
Braemar Hotels & Resorts, Inc. REIT | 1,392 | 16,078 | ||||||
BRT Apartments Corp. REIT | 619 | 7,967 | ||||||
CareTrust REIT, Inc. REIT | 261 | 4,815 | ||||||
CatchMark Timber Trust, Inc., Class A REIT | 441 | 5,530 | ||||||
CBL & Associates Properties, Inc. REIT (a) | 861 | 3,840 | ||||||
Cedar Realty Trust, Inc. REIT | 913 | 4,081 | ||||||
Chatham Lodging Trust REIT | 552 | 11,840 | ||||||
Chesapeake Lodging Trust REIT | 486 | 15,994 | ||||||
City Office REIT, Inc. REIT | 428 | 5,526 | ||||||
Clipper Realty, Inc. REIT | 201 | 2,452 | ||||||
Community Healthcare Trust, Inc. REIT (a) | 211 | 6,547 | ||||||
Consolidated-Tomoka Land Co. | 148 | 9,291 | ||||||
CoreCivic, Inc. REIT | 224 | 5,799 | ||||||
CorEnergy Infrastructure Trust, Inc. REIT (a) | 315 | 11,790 | ||||||
CorePoint Lodging, Inc. REIT | 155 | 3,232 | ||||||
Cousins Properties, Inc. REIT | 506 | 4,731 | ||||||
DiamondRock Hospitality Co. REIT | 668 | 7,989 | ||||||
Easterly Government Properties, Inc. REIT | 336 | 6,804 | ||||||
EastGroup Properties, Inc. REIT (a) | 60 | 5,836 | ||||||
Education Realty Trust, Inc. REIT | 82 | 3,393 | ||||||
Farmland Partners, Inc. REIT (a) | 238 | 1,680 | ||||||
First Industrial Realty Trust, Inc. REIT | 169 | 5,486 | ||||||
Forestar Group, Inc.*(a) | 210 | 5,397 | ||||||
Four Corners Property Trust, Inc. REIT | 367 | 9,887 |
Number | Value | |||||||
Real Estate (Continued) | ||||||||
Franklin Street Properties Corp. REIT | 377 | $ | 3,231 | |||||
FRP Holdings, Inc.*(a) | 107 | 6,987 | ||||||
GEO Group, Inc. REIT | 206 | 5,226 | ||||||
Getty Realty Corp. REIT | 331 | 9,635 | ||||||
Gladstone Commercial Corp. REIT | 271 | 5,396 | ||||||
Gladstone Land Corp. REIT (a) | 202 | 2,767 | ||||||
Global Medical REIT, Inc. REIT | 239 | 2,287 | ||||||
Global Net Lease, Inc. REIT (a) | 311 | 6,746 | ||||||
Government Properties Income Trust REIT (a) | 186 | 3,145 | ||||||
Gramercy Property Trust REIT | 90 | 2,462 | ||||||
Healthcare Realty Trust, Inc. REIT | 80 | 2,477 | ||||||
Hersha Hospitality Trust REIT (a) | 845 | 19,942 | ||||||
HFF, Inc., Class A | 534 | 24,249 | ||||||
Independence Realty Trust, Inc. REIT (a) | 806 | 8,326 | ||||||
Industrial Logistics Properties Trust REIT (a) | 160 | 3,851 | ||||||
InfraREIT, Inc. REIT | 466 | 9,735 | ||||||
Innovative Industrial Properties, Inc. REIT | 131 | 5,947 | ||||||
Investors Real Estate Trust REIT (a) | 680 | 3,706 | ||||||
iStar, Inc. REIT | 621 | 6,949 | ||||||
Jernigan Capital, Inc. REIT | 117 | 2,341 | ||||||
Kennedy-Wilson Holdings, Inc. (a) | 170 | 3,647 | ||||||
Kite Realty Group Trust REIT | 327 | 5,716 | ||||||
LaSalle Hotel Properties REIT (a) | 181 | 6,355 | ||||||
Lexington Realty Trust REIT | 665 | 6,211 | ||||||
LTC Properties, Inc. REIT | 161 | 7,478 | ||||||
Mack-Cali Realty Corp. REIT | 136 | 2,970 | ||||||
Marcus & Millichap, Inc.* | 289 | 10,523 | ||||||
MedEquities Realty Trust, Inc. REIT | 503 | 5,387 | ||||||
Monmouth Real Estate Investment Corp. REIT | 597 | 10,382 | ||||||
National Health Investors, Inc. REIT (a) | 77 | 6,102 | ||||||
National Storage Affiliates Trust REIT | 368 | 10,437 | ||||||
New Senior Investment Group, Inc. REIT | 736 | 4,666 | ||||||
Newmark Group, Inc., Class A | 253 | 3,251 | ||||||
NexPoint Residential Trust, Inc. REIT | 373 | 12,048 | ||||||
NorthStar Realty Europe Corp. REIT | 177 | 2,428 | ||||||
One Liberty Properties, Inc. REIT | 355 | 10,220 | ||||||
Pebblebrook Hotel Trust REIT (a) | 229 | 8,842 | ||||||
Pennsylvania Real Estate Investment Trust REIT (a) | 472 | 4,814 | ||||||
Physicians Realty Trust REIT | 159 | 2,781 | ||||||
Piedmont Office Realty Trust, Inc., Class A REIT | 315 | 6,250 | ||||||
PotlatchDeltic Corp. REIT | 141 | 6,810 | ||||||
Preferred Apartment Communities, Inc., Class A REIT (a) | 453 | 8,073 | ||||||
PS Business Parks, Inc. REIT | 29 | 3,783 | ||||||
QTS Realty Trust, Inc., Class A REIT | 57 | 2,607 | ||||||
Ramco-Gershenson Properties Trust REIT (a) | 1,009 | 14,086 | ||||||
RE/MAX Holdings, Inc., Class A | 220 | 10,835 | ||||||
Retail Opportunity Investments Corp. REIT (a) | 276 | 5,448 | ||||||
Rexford Industrial Realty, Inc. REIT | 197 | 6,403 | ||||||
RLJ Lodging Trust REIT | 227 | 4,974 |
See Notes to Financial Statements. | 67 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 2000 Comprehensive Factor ETF (Continued)
August 31, 2018
Number | Value | |||||||
Real Estate (Continued) | ||||||||
RMR Group, Inc., Class A | 152 | $ | 14,356 | |||||
Ryman Hospitality Properties, Inc. REIT | 82 | 7,276 | ||||||
Sabra Health Care REIT, Inc. REIT (a) | 93 | 2,193 | ||||||
Safety Income & Growth, Inc. REIT | 45 | 743 | ||||||
Saul Centers, Inc. REIT | 81 | 4,860 | ||||||
Select Income REIT | 233 | 4,788 | ||||||
Seritage Growth Properties, Class A REIT (a) | 26 | 1,339 | ||||||
Spirit MTA REIT* | 507 | 5,435 | ||||||
St Joe Co.* | 356 | 6,123 | ||||||
STAG Industrial, Inc. REIT | 178 | 5,139 | ||||||
Stratus Properties, Inc.* | 71 | 2,158 | ||||||
Summit Hotel Properties, Inc. REIT (a) | 463 | 6,357 | ||||||
Sunstone Hotel Investors, Inc. REIT | 314 | 5,269 | ||||||
Tanger Factory Outlet Centers, Inc. REIT (a) | 270 | 6,496 | ||||||
Tejon Ranch Co.*(a) | 192 | 4,268 | ||||||
Terreno Realty Corp. REIT | 237 | 9,103 | ||||||
Tier REIT, Inc. REIT | 491 | 11,705 | ||||||
UMH Properties, Inc. REIT | 270 | 4,309 | ||||||
Universal Health Realty Income Trust REIT | 99 | 7,549 | ||||||
Urban Edge Properties REIT | 144 | 3,292 | ||||||
Urstadt Biddle Properties, Inc., Class A REIT | 599 | 13,627 | ||||||
Washington Prime Group, Inc. REIT (a) | 1,963 | 15,194 | ||||||
Washington Real Estate Investment Trust REIT | 155 | 4,892 | ||||||
Whitestone REIT (a) | 545 | 7,434 | ||||||
Xenia Hotels & Resorts, Inc. REIT | 462 | 11,208 | ||||||
|
| |||||||
718,494 | ||||||||
|
| |||||||
Telecommunication Services — 0.7% | ||||||||
ATN International, Inc. | 93 | 6,810 | ||||||
Boingo Wireless, Inc.* | 518 | 17,136 | ||||||
Cincinnati Bell, Inc.*(a) | 666 | 8,658 | ||||||
Cogent Communications Holdings, Inc. (a) | 145 | 7,932 | ||||||
Consolidated Communications Holdings, Inc. (a) | 204 | 2,409 | ||||||
Intelsat SA* | 63 | 1,384 | ||||||
Iridium Communications, Inc.* | 326 | 6,602 | ||||||
Ooma, Inc.* | 267 | 4,272 | ||||||
ORBCOMM, Inc.* | 222 | 2,395 | ||||||
Shenandoah Telecommunications Co. | 209 | 7,973 | ||||||
Spok Holdings, Inc. | 264 | 4,052 | ||||||
Vonage Holdings Corp.* | 789 | 11,188 | ||||||
|
| |||||||
80,811 | ||||||||
|
| |||||||
Utilities — 1.8% | ||||||||
ALLETE, Inc. | 58 | 4,355 | ||||||
American States Water Co. (a) | 153 | 9,246 | ||||||
Artesian Resources Corp., Class A | 147 | 5,282 | ||||||
Atlantic Power Corp.* | 1,324 | 2,913 | ||||||
Avista Corp. | 141 | 7,235 | ||||||
Black Hills Corp. (a) | 68 | 4,002 | ||||||
California Water Service Group (a) | 244 | 10,041 | ||||||
Chesapeake Utilities Corp. | 117 | 10,062 |
Number | Value | |||||||
Utilities (Continued) | ||||||||
Connecticut Water Service, Inc. (a) | 112 | $ | 7,673 | |||||
Consolidated Water Co. Ltd. | 354 | 4,779 | ||||||
El Paso Electric Co. | 204 | 12,505 | ||||||
Global Water Resources, Inc. | 159 | 1,566 | ||||||
IDACORP, Inc. | 34 | 3,327 | ||||||
MGE Energy, Inc. | 76 | 4,974 | ||||||
Middlesex Water Co. | 141 | 6,458 | ||||||
New Jersey Resources Corp. (a) | 92 | 4,195 | ||||||
Northwest Natural Gas Co. | 121 | 7,853 | ||||||
NorthWestern Corp. | 127 | 7,615 | ||||||
NRG Yield, Inc., Class A | 590 | 11,617 | ||||||
NRG Yield, Inc., Class C | 523 | 10,381 | ||||||
ONE Gas, Inc. | 46 | 3,612 | ||||||
Ormat Technologies, Inc. (a) | 56 | 2,948 | ||||||
Otter Tail Corp. | 240 | 11,496 | ||||||
Pattern Energy Group, Inc., Class A (a) | 121 | 2,466 | ||||||
PNM Resources, Inc. | 143 | 5,570 | ||||||
Portland General Electric Co. | 84 | 3,898 | ||||||
Pure Cycle Corp.* | 329 | 3,701 | ||||||
RGC Resources, Inc. | 126 | 3,393 | ||||||
SJW Group | 142 | 8,223 | ||||||
South Jersey Industries, Inc. | 107 | 3,550 | ||||||
Southwest Gas Holdings, Inc. | 52 | 4,021 | ||||||
Spire, Inc. | 55 | 4,100 | ||||||
Unitil Corp. | 213 | 10,767 | ||||||
York Water Co. (a) | 120 | 3,612 | ||||||
|
| |||||||
207,436 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 11,294,173 | |||||||
|
| |||||||
RIGHTS — 0.0% | ||||||||
Financials — 0.0% | ||||||||
New Star Financial, Inc. CVR*(b) | 509 | 275 | ||||||
|
| |||||||
Materials — 0.0% | ||||||||
A Schulman, Inc. CVR*(b) | 392 | 749 | ||||||
|
| |||||||
TOTAL RIGHTS | 1,024 | |||||||
|
| |||||||
EXCHANGE TRADED FUNDS — 0.3% | ||||||||
iShares Edge MSCI Multifactor USA Small-Cap ETF | 400 | 17,944 | ||||||
Vanguard Small-Cap ETF | 79 | 13,087 | ||||||
|
| |||||||
TOTAL EXCHANGE TRADED FUNDS | 31,031 | |||||||
|
| |||||||
SECURITIES LENDING COLLATERAL — 2.7% |
| |||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 1.85% (c)(d) | 311,072 | 311,072 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 101.9% (Cost $10,070,332) | $ | 11,637,300 | ||||||
Other assets and liabilities, net — (1.9%) | (216,865 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 11,420,435 | ||||||
|
|
See Notes to Financial Statements. | 68 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 2000 Comprehensive Factor ETF (Continued)
August 31, 2018
A summary of the Fund’s transactions with affiliated investments during the year ended August 31, 2018 is as follows:
Value ($) at | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 8/31/2018 | Value ($) at 8/31/2018 | ||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 2.7% |
| |||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 1.85% (c)(d) |
| |||||||||||||||||||||||||||||||
371,772 | — | (60,700) | — | — | 7,565 | — | 311,072 | 311,072 |
* | 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, 2018 amounted to $2,631,972, which is 23.0% of net assets. |
(b) | Investment was valued using significant unobservable inputs. |
(c) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
(d) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. Represents the net increase (purchases cost) or decrease (sales proceeds) in the amount invested in cash collateral for the year ended August 31, 2018. In addition, the Fund held non-cash U.S. Treasury securities collateral having a value of $2,363,422. |
CVR: | Contingent Value Rights |
REIT: | Real Estate Investment Trust |
At August 31, 2018, open futures contract purchased was as follows:
Contract Description | Currency | Number of Contracts | Notional Amount | Contract Value | Expiration Date | Unrealized Appreciation | ||||||||||||||||||
E-Mini Russell 2000 Futures | USD | 1 | $ | 84,085 | $ | 87,030 | 9/21/2018 | $ | 2,945 |
Currency Abbreviations
USD | U.S. Dollar |
For information on the Fund’s policy and additional disclosures regarding open futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
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, 2018 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.
Assets | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stocks (e) | $ | 11,294,173 | $ | — | $ | — | $ | 11,294,173 | ||||||||
Rights (e) | — | — | 1,024 | 1,024 | ||||||||||||
Exchange Traded Funds | 31,031 | — | — | 31,031 | ||||||||||||
Short-Term Investments | 311,072 | — | — | 311,072 | ||||||||||||
Derivatives (f) | ||||||||||||||||
Futures Contracts | 2,945 | — | — | 2,945 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 11,639,221 | $ | — | $ | 1,024 | $ | 11,640,245 | ||||||||
|
|
|
|
|
|
|
|
(e) | See Schedule of Investments for additional detailed categorizations. |
(f) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
There have been no transfers between fair value measurement levels during the year ended August 31, 2018.
See Notes to Financial Statements. | 69 |
DBX ETF Trust
August 31, 2018
Xtrackers FTSE Developed ex US Comprehensive Factor ETF | Xtrackers FTSE Emerging Comprehensive Factor ETF | Xtrackers Russell 1000 Comprehensive Factor ETF | Xtrackers Russell 1000 US QARP ETF | |||||||||||||
Assets | ||||||||||||||||
Investments in non-affiliated securities at value | $ | 58,882,518 | $ | 6,357,185 | $ | 169,200,921 | $ | 61,267,454 | ||||||||
Investment in DWS Government & Agency Securities Portfolio* | 227,652 | 90,527 | 64,770 | — | ||||||||||||
Cash | 18,126 | 15,571 | 1,827,430 | 15,486 | ||||||||||||
Foreign currency at value | 113,681 | 29,863 | — | — | ||||||||||||
Deposit with broker for futures contracts | 9,000 | 2,600 | 78,100 | — | ||||||||||||
Receivables: | ||||||||||||||||
Investment securities sold | — | 5,250 | — | — | ||||||||||||
Variation margin on futures contracts | — | 310 | 2,435 | — | ||||||||||||
Dividends | 108,699 | 18,675 | 252,765 | 140,310 | ||||||||||||
Securities lending income | 79 | 36 | 1,225 | 151 | ||||||||||||
Foreign tax reclaim | 13,530 | 408 | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Assets | $ | 59,373,285 | $ | 6,520,425 | $ | 171,427,646 | $ | 61,423,401 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liabilities | ||||||||||||||||
Payable upon return of securities loaned | $ | 227,652 | $ | 90,527 | $ | 64,770 | $ | — | ||||||||
Payables: | ||||||||||||||||
Investment securities purchased | 320 | 7,132 | — | — | ||||||||||||
Investment advisory fees | 17,467 | 2,734 | 24,198 | 9,631 | ||||||||||||
Variation margin on futures contracts | 1,410 | — | — | — | ||||||||||||
Deferred foreign tax payable | — | 3,551 | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Liabilities | 246,849 | 103,944 | 88,968 | 9,631 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Assets, at value | $ | 59,126,436 | $ | 6,416,481 | $ | 171,338,678 | $ | 61,413,770 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net Assets Consist of | ||||||||||||||||
Paid-in capital | $ | 59,108,446 | $ | 6,407,649 | $ | 159,175,330 | $ | 57,693,664 | ||||||||
Undistributed net investment income | 434,377 | 72,089 | 471,966 | 237,491 | ||||||||||||
Accumulated net realized gain (loss) | (635,959 | ) | 93,407 | (5,145,497 | ) | (486,608 | ) | |||||||||
Net unrealized appreciation (depreciation) | 219,572 | (156,664 | )** | 16,836,879 | 3,969,223 | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Assets, at value | $ | 59,126,436 | $ | 6,416,481 | $ | 171,338,678 | $ | 61,413,770 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Number of Common Shares outstanding | 2,050,001 | 250,001 | 5,050,001 | 2,250,001 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Asset Value | $ | 28.84 | $ | 25.67 | $ | 33.93 | $ | 27.29 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Investments in non-affiliated securities at cost | $ | 58,660,305 | $ | 6,504,393 | $ | 152,417,145 | $ | 57,298,231 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Value of securities loaned | $ | 304,363 | $ | 94,828 | $ | 10,196,709 | $ | 1,363,976 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Investment in DWS Government & Agency Securities Portfolio at cost* | $ | 227,652 | $ | 90,527 | $ | 64,770 | $ | — | ||||||||
|
|
|
|
|
|
|
| |||||||||
Non-cash collateral for securities on loan | $ | 131,694 | $ | 8,824 | $ | 10,338,863 | $ | 1,395,789 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Foreign currency at cost | $ | 113,866 | $ | 31,070 | $ | — | $ | — | ||||||||
|
|
|
|
|
|
|
|
* | Represents collateral on securities loaned. |
** | Net of deferred foreign taxes $3,551. |
See Notes to Financial Statements. | 70 |
DBX ETF Trust
Statements of Assets and Liabilities (Continued)
August 31, 2018
Xtrackers Russell 2000 Comprehensive Factor ETF | ||||
Assets | ||||
Investments in non-affiliated securities at value | $ | 11,326,228 | ||
Investment in DWS Government & Agency Securities Portfolio* | 311,072 | |||
Cash | 80,270 | |||
Foreign currency at value | 3,006 | |||
Deposit with broker for futures contracts | 3,450 | |||
Receivables: | ||||
Variation margin on futures contracts | 285 | |||
Dividends | 9,288 | |||
Securities lending income | 766 | |||
|
| |||
Total Assets | $ | 11,734,365 | ||
|
| |||
Liabilities | ||||
Payable upon return of securities loaned | $ | 311,072 | ||
Payables: | ||||
Investment advisory fees | 2,858 | |||
|
| |||
Total Liabilities | 313,930 | |||
|
| |||
Net Assets, at value | $ | 11,420,435 | ||
|
| |||
Net Assets Consist of | ||||
Paid-in capital | $ | 10,216,042 | ||
Undistributed net investment income | 34,581 | |||
Accumulated net realized gain (loss) | (400,077 | ) | ||
Net unrealized appreciation (depreciation) | 1,569,889 | |||
|
| |||
Net Assets, at value | $ | 11,420,435 | ||
|
| |||
Number of Common Shares outstanding | 300,001 | |||
|
| |||
Net Asset Value | $ | 38.07 | ||
|
| |||
Investments in non-affiliated securities at cost | $ | 9,759,260 | ||
|
| |||
Value of securities loaned | $ | 2,631,972 | ||
|
| |||
Investment in DWS Government & Agency Securities Portfolio at cost* | $ | 311,072 | ||
|
| |||
Non-cash collateral for securities on loan | $ | 2,363,422 | ||
|
| |||
Foreign currency at cost | $ | 3,030 | ||
|
|
* | Represents collateral on securities loaned. |
See Notes to Financial Statements. | 71 |
DBX ETF Trust
For the Year Ended August 31, 2018
Xtrackers FTSE Developed ex US Comprehensive Factor ETF | Xtrackers FTSE Emerging Comprehensive Factor ETF | Xtrackers Russell 1000 Comprehensive Factor ETF | Xtrackers Russell 1000 US QARP ETF(1) | |||||||||||||
Investment Income | ||||||||||||||||
Unaffiliated dividend income* | $ | 1,335,099 | $ | 267,461 | $ | 2,541,025 | $ | 454,085 | ||||||||
Affiliated securities lending income | 5,608 | 565 | 13,173 | 499 | ||||||||||||
Unaffiliated securities lending income, net of borrower rebates | 3,791 | — | — | 242 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Income | 1,344,498 | 268,026 | 2,554,198 | 454,826 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Expenses | ||||||||||||||||
Investment advisory fees | 158,307 | 39,418 | 266,075 | 39,401 | ||||||||||||
Other expenses | 57 | 57 | 57 | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Expenses | 158,364 | 39,475 | 266,132 | 39,401 | ||||||||||||
Less fees waived (See Note 3): | ||||||||||||||||
Waiver | — | — | (12,013 | ) | — | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Expenses | 158,364 | 39,475 | 254,119 | 39,401 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Investment income (loss) | 1,186,134 | 228,551 | 2,300,079 | 415,425 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Realized and Unrealized Gain (Loss) | ||||||||||||||||
Net realized gain (loss) from: | ||||||||||||||||
Investments | (116,857 | ) | 351,358 | (4,125,896 | ) | (483,439 | ) | |||||||||
In-kind redemptions | 231,066 | 472,542 | 11,023,861 | 513,937 | ||||||||||||
Futures contracts | (8,665 | ) | 24,902 | 162,327 | (3,415 | ) | ||||||||||
Foreign currency transactions | (8,577 | ) | (10,927 | ) | — | — | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized gain (loss) | 96,967 | 837,875 | 7,060,292 | 27,083 | ||||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||
Investments** | (460,659 | ) | (1,463,565 | ) | 12,322,093 | 3,969,223 | ||||||||||
Futures contracts | (2,145 | ) | (628 | ) | 52,200 | — | ||||||||||
Foreign currency translations | (566 | ) | (4,468 | ) | — | — | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net change in unrealized appreciation (depreciation) | (463,370 | ) | (1,468,661 | ) | 12,374,293 | 3,969,223 | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized and unrealized gain (loss) on investments, futures and foreign currency transactions | (366,403 | ) | (630,786 | ) | 19,434,585 | 3,996,306 | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 819,731 | $ | (402,235 | ) | $ | 21,734,664 | $ | 4,411,731 | |||||||
|
|
|
|
|
|
|
| |||||||||
* Unaffiliated foreign tax withheld | $ | 131,341 | $ | 32,910 | $ | 92 | $ | 21 | ||||||||
** Net of change in deferred foreign taxes | $ | — | $ | 3,551 | $ | — | $ | — |
(1) | For the period April 5, 2018 (commencement of operations) through August 31, 2018. |
See Notes to Financial Statements. | 72 |
DBX ETF Trust
Statements of Operations (Continued)
For the Year Ended August 31, 2018
Xtrackers Russell 2000 Comprehensive Factor ETF | ||||
Investment Income | ||||
Unaffiliated dividend income* | $ | 156,840 | ||
Affiliated securities lending income | 7,565 | |||
Unaffiliated securities lending income, net of borrower rebates | 1,525 | |||
|
| |||
Total Investment Income | 165,930 | |||
|
| |||
Expenses | ||||
Investment advisory fees | 28,942 | |||
Other expenses | 57 | |||
|
| |||
Total Expenses | 28,999 | |||
|
| |||
Net Investment income (loss) | 136,931 | |||
|
| |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) from: | ||||
Investments | (417,430 | ) | ||
In-kind redemptions | 1,093,938 | |||
Futures contracts | 8,245 | |||
Foreign currency transactions | 22 | |||
|
| |||
Net realized gain (loss) | 684,775 | |||
Net change in unrealized appreciation (depreciation) on: | ||||
Investments | 1,080,324 | |||
Futures contracts | 2,945 | |||
Foreign currency translations | (24 | ) | ||
|
| |||
Net change in unrealized appreciation (depreciation) | 1,083,245 | |||
|
| |||
Net realized and unrealized gain (loss) on investments, futures and foreign currency transactions | 1,768,020 | |||
|
| |||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 1,904,951 | ||
|
| |||
* Unaffiliated foreign tax withheld | $ | 13 |
See Notes to Financial Statements. | 73 |
DBX ETF Trust
Xtrackers FTSE Developed ex US Comprehensive Factor ETF | Xtrackers FTSE Emerging Comprehensive Factor ETF | |||||||||||||||
Year Ended August 31, 2018 | Year Ended August 31, 2017 | Year Ended August 31, 2018 | Year Ended August 31, 2017 | |||||||||||||
Increase (Decrease) in Net Assets from Operations | ||||||||||||||||
Net investment income (loss) | $ | 1,186,134 | $ | 172,195 | $ | 228,551 | $ | 276,844 | ||||||||
Net realized gain (loss) | 96,967 | (1,054,509 | ) | 837,875 | 170,658 | |||||||||||
Net change in net unrealized appreciation (depreciation) | (463,370 | ) | 601,541 | (1,468,661 | ) | 1,284,361 | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from operations | 819,731 | (280,773 | ) | (402,235 | ) | 1,731,863 | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Distributions to Shareholders from | ||||||||||||||||
Net investment income | (1,119,637 | ) | (163,100 | ) | (342,332 | ) | (132,417 | ) | ||||||||
Net realized gains | — | — | (191,991 | ) | (17,533 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Total distributions | (1,119,637 | ) | (163,100 | ) | (534,323 | ) | (149,950 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Fund Shares Transactions | ||||||||||||||||
Proceeds from shares sold | 45,367,454 | 40,231,926 | — | 8,933,809 | ||||||||||||
Value of shares redeemed | (1,436,896 | ) | (26,833,500 | ) | (5,735,711 | ) | — | |||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from fund share transactions | 43,930,558 | 13,398,426 | (5,735,711 | ) | 8,933,809 | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Total net increase (decrease) in Net Assets | 43,630,652 | 12,954,553 | (6,672,269 | ) | 10,515,722 | |||||||||||
Net Assets | ||||||||||||||||
Beginning of year | 15,495,784 | 2,541,231 | 13,088,750 | 2,573,028 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
End of year | $ | 59,126,436 | $ | 15,495,784 | $ | 6,416,481 | $ | 13,088,750 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Undistributed net investment income | $ | 434,377 | $ | 141,041 | $ | 72,089 | $ | 199,229 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Changes in Shares Outstanding | ||||||||||||||||
Shares outstanding, beginning of year | 550,001 | 100,001 | 450,001 | 100,001 | ||||||||||||
Shares sold | 1,550,000 | 1,550,000 | — | 350,000 | ||||||||||||
Shares redeemed | (50,000 | ) | (1,100,000 | ) | (200,000 | ) | — | |||||||||
|
|
|
|
|
|
|
| |||||||||
Shares outstanding, end of year | 2,050,001 | 550,001 | 250,001 | 450,001 | ||||||||||||
|
|
|
|
|
|
|
|
See Notes to Financial Statements. | 74 |
DBX ETF Trust
Statements of Changes in Net Assets (Continued)
Xtrackers Russell 1000 Comprehensive Factor ETF | Xtrackers Russell 1000 US QARP ETF | |||||||||||
Year Ended August 31, 2018 | Year Ended August 31, 2017 | For the Period April 5, 2018(1) to August 31, 2018 | ||||||||||
Increase (Decrease) in Net Assets from Operations | ||||||||||||
Net investment income (loss) | $ | 2,300,079 | $ | 1,206,077 | $ | 415,425 | ||||||
Net realized gain (loss) | 7,060,292 | 4,629,252 | 27,083 | |||||||||
Net change in net unrealized appreciation (depreciation) | 12,374,293 | 3,653,530 | 3,969,223 | |||||||||
|
|
|
|
|
| |||||||
Net increase (decrease) in net assets resulting from operations | 21,734,664 | 9,488,859 | 4,411,731 | |||||||||
|
|
|
|
|
| |||||||
Distributions to Shareholders from | ||||||||||||
Net investment income | (2,163,877 | ) | (964,811 | ) | (177,934 | ) | ||||||
|
|
|
|
|
| |||||||
Total distributions | (2,163,877 | ) | (964,811 | ) | (177,934 | ) | ||||||
|
|
|
|
|
| |||||||
Fund Shares Transactions | ||||||||||||
Proceeds from shares sold | 104,881,632 | 146,512,353 | 64,987,902 | |||||||||
Value of shares redeemed | (53,325,864 | ) | (76,229,711 | ) | (7,807,954 | ) | ||||||
|
|
|
|
|
| |||||||
Net increase (decrease) in net assets resulting from fund share transactions | 51,555,768 | 70,282,642 | 57,179,948 | |||||||||
|
|
|
|
|
| |||||||
Total net increase (decrease) in Net Assets | 71,126,555 | 78,806,690 | 61,413,745 | |||||||||
Net Assets | ||||||||||||
Beginning of period | 100,212,123 | 21,405,433 | 25 | |||||||||
|
|
|
|
|
| |||||||
End of period | $ | 171,338,678 | $ | 100,212,123 | $ | 61,413,770 | ||||||
|
|
|
|
|
| |||||||
Undistributed net investment income | $ | 471,966 | $ | 327,015 | $ | 237,491 | ||||||
|
|
|
|
|
| |||||||
Changes in Shares Outstanding | ||||||||||||
Shares outstanding, beginning of period | 3,400,001 | 800,001 | 1 | |||||||||
Shares sold | 3,300,000 | 5,350,000 | 2,550,000 | |||||||||
Shares redeemed | (1,650,000 | ) | (2,750,000 | ) | (300,000 | ) | ||||||
|
|
|
|
|
| |||||||
Shares outstanding, end of period | 5,050,001 | 3,400,001 | 2,250,001 | |||||||||
|
|
|
|
|
|
(1) | Commencement of Operations. |
See Notes to Financial Statements. | 75 |
DBX ETF Trust
Statements of Changes in Net Assets (Continued)
Xtrackers Russell 2000 Comprehensive Factor ETF | ||||||||
Year Ended August 31, 2018 | Year Ended August 31, 2017 | |||||||
Increase (Decrease) in Net Assets from Operations | ||||||||
Net investment income (loss) | $ | 136,931 | $ | 58,101 | ||||
Net realized gain (loss) | 684,775 | 106,736 | ||||||
Net change in net unrealized appreciation (depreciation) | 1,083,245 | 215,038 | ||||||
|
|
|
| |||||
Net increase (decrease) in net assets resulting from operations | 1,904,951 | 379,875 | ||||||
|
|
|
| |||||
Distributions to Shareholders from | ||||||||
Net investment income | (115,343 | ) | (54,188 | ) | ||||
Net realized gains | (106,752 | ) | (843 | ) | ||||
|
|
|
| |||||
Total distributions | (222,095 | ) | (55,031 | ) | ||||
|
|
|
| |||||
Fund Shares Transactions | ||||||||
Proceeds from shares sold | 10,288,658 | 1,567,483 | ||||||
Value of shares redeemed | (5,225,663 | ) | — | |||||
|
|
|
| |||||
Net increase (decrease) in net assets resulting from fund share transactions | 5,062,995 | 1,567,483 | ||||||
|
|
|
| |||||
Total net increase (decrease) in Net Assets | 6,745,851 | 1,892,327 | ||||||
Net Assets | ||||||||
Beginning of year | 4,674,584 | 2,782,257 | ||||||
|
|
|
| |||||
End of year | $ | 11,420,435 | $ | 4,674,584 | ||||
|
|
|
| |||||
Undistributed net investment income | $ | 34,581 | $ | 12,922 | ||||
|
|
|
| |||||
Changes in Shares Outstanding | ||||||||
Shares outstanding, beginning of year | 150,001 | 100,001 | ||||||
Shares sold | 300,000 | 50,000 | ||||||
Shares redeemed | (150,000 | ) | — | |||||
|
|
|
| |||||
Shares outstanding, end of year | 300,001 | 150,001 | ||||||
|
|
|
|
See Notes to Financial Statements. | 76 |
DBX ETF Trust
Xtrackers FTSE Developed ex US Comprehensive Factor ETF Selected Per Share Data | Year Ended 8/31/2018 | Year Ended 8/31/2017 | Period Ended 8/31/2016(a) | |||||||||
Net Asset Value, beginning of period | $ | 28.17 | $ | 25.41 | $ | 25.00 | ||||||
|
|
|
|
|
| |||||||
Income (loss) from investment operations: | ||||||||||||
Net investment income (loss)(c) | 0.77 | 0.54 | 0.52 | |||||||||
Net realized and unrealized gain (loss) | 0.72 | (d) | 3.19 | (d) | 0.27 | |||||||
|
|
|
|
|
| |||||||
Total from investment operations | 1.49 | 3.73 | 0.79 | |||||||||
|
|
|
|
|
| |||||||
Less distributions from: | ||||||||||||
Net investment income | (0.82 | ) | (0.97 | ) | (0.38 | ) | ||||||
|
|
|
|
|
| |||||||
Total distributions | (0.82 | ) | (0.97 | ) | (0.38 | ) | ||||||
|
|
|
|
|
| |||||||
Net Asset Value, end of period | $ | 28.84 | $ | 28.17 | $ | 25.41 | ||||||
|
|
|
|
|
| |||||||
Total Return (%) | 5.32 | 15.16 | 3.21 | ** | ||||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||
Net Assets, end of period ($ millions) | 59 | 15 | 3 | |||||||||
Ratio of expenses (%) | 0.35 | 0.35 | 0.36 | * | ||||||||
Ratio of net investment income (loss) (%) | 2.62 | 2.10 | 2.77 | * | ||||||||
Portfolio turnover rate (%)(e) | 45 | 45 | 35 | ** | ||||||||
Xtrackers FTSE Emerging Comprehensive Factor ETF Selected Per Share Data | Year Ended 8/31/2018 | Year Ended 8/31/2017 | Period Ended 8/31/2016(b) | |||||||||
Net Asset Value, beginning of period | $ | 29.09 | $ | 25.73 | $ | 25.00 | ||||||
|
|
|
|
|
| |||||||
Income (loss) from investment operations: | ||||||||||||
Net investment income (loss)(c) | 0.82 | 0.88 | 0.38 | |||||||||
Net realized and unrealized gain (loss) | (2.46 | ) | 3.27 | 0.41 | ||||||||
|
|
|
|
|
| |||||||
Total from investment operations | (1.64 | ) | 4.15 | 0.79 | ||||||||
|
|
|
|
|
| |||||||
Less distributions from: |
| |||||||||||
Net investment income | (1.01 | ) | (0.61 | ) | (0.06 | ) | ||||||
Net realized gains | (0.77 | ) | (0.18 | ) | — | |||||||
|
|
|
|
|
| |||||||
Total distributions | (1.78 | ) | (0.79 | ) | (0.06 | ) | ||||||
|
|
|
|
|
| |||||||
Net Asset Value, end of period | $ | 25.67 | $ | 29.09 | $ | 25.73 | ||||||
|
|
|
|
|
| |||||||
Total Return (%) | (5.89 | ) | 16.56 | 3.16 | ** | |||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||
Net Assets, end of period ($ millions) | 6 | 13 | 3 | |||||||||
Ratio of expenses (%) | 0.50 | 0.50 | 0.50 | * | ||||||||
Ratio of net investment income (loss) (%) | 2.90 | 3.28 | 4.14 | * | ||||||||
Portfolio turnover rate (%)(e) | 74 | 48 | 1 | ** |
(a) | For the period November 24, 2015 (commencement of operations) through August 31, 2016. |
(b) | For the period April 19, 2016 (commencement of operations) through August 31, 2016. |
(c) | Based on average shares outstanding during the period. |
(d) | Because of the timing of subscriptions and redemptions in relation to fluctuating markets at value, the amount shown may not agree with the change in aggregate gains and losses. |
(e) | Portfolio turnover rate does not include securities received or delivered from processing creations or redemptions. |
* | Annualized. |
** | Not Annualized. |
See Notes to Financial Statements. | 77 |
DBX ETF Trust
Financial Highlights (Continued)
Xtrackers Russell 1000 Comprehensive Factor ETF Selected Per Share Data | Year Ended 8/31/2018 | Year Ended 8/31/2017 | Period Ended 8/31/2016(a) | |||||||||
Net Asset Value, beginning of period | $ | 29.47 | $ | 26.76 | $ | 25.00 | ||||||
|
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|
|
|
| |||||||
Income (loss) from investment operations: | ||||||||||||
Net investment income (loss)(c) | 0.52 | 0.51 | 0.40 | |||||||||
Net realized and unrealized gain (loss) | 4.44 | 2.85 | 1.60 | |||||||||
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|
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| |||||||
Total from investment operations | 4.96 | 3.36 | 2.00 | |||||||||
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| |||||||
Less distributions from: | ||||||||||||
Net investment income | (0.50 | ) | (0.65 | ) | (0.24 | ) | ||||||
|
|
|
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|
| |||||||
Total distributions | (0.50 | ) | (0.65 | ) | (0.24 | ) | ||||||
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|
| |||||||
Net Asset Value, end of period | $ | 33.93 | $ | 29.47 | $ | 26.76 | ||||||
|
|
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|
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| |||||||
Total Return (%) | 16.97 | (d) | 12.75 | (d) | 8.06 | ** | ||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||
Net Assets, end of period ($ millions) | 171 | 100 | 21 | |||||||||
Ratio of expenses before fee waiver (%) | 0.19 | 0.23 | 0.25 | * | ||||||||
Ratio of expenses after fee waiver (%) | 0.18 | 0.21 | 0.25 | * | ||||||||
Ratio of net investment income (loss) (%) | 1.62 | 1.83 | 2.01 | * | ||||||||
Portfolio turnover rate (%)(e) | 45 | 67 | 64 | ** | ||||||||
Xtrackers Russell 1000 US QARP ETF Selected Per Share Data | Period Ended 8/31/2018(b) | |||||||||||
Net Asset Value, beginning of period | $ | 25.00 | ||||||||||
|
| |||||||||||
Income (loss) from investment operations: | ||||||||||||
Net investment income (loss)(c) | 0.21 | |||||||||||
Net realized and unrealized gain (loss) | 2.16 | |||||||||||
|
| |||||||||||
Total from investment operations | 2.37 | |||||||||||
|
| |||||||||||
Less distributions from: | ||||||||||||
Net investment income | (0.08 | ) | ||||||||||
|
| |||||||||||
Total distributions | (0.08 | ) | ||||||||||
|
| |||||||||||
Net Asset Value, end of period | $ | 27.29 | ||||||||||
|
| |||||||||||
Total Return (%) | 9.52 | ** | ||||||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||
Net Assets, end of period ($ millions) | 61 | |||||||||||
Ratio of expenses (%) | 0.19 | * | ||||||||||
Ratio of net investment income (loss) (%) | 2.00 | * | ||||||||||
Portfolio turnover rate (%)(e) | 26 | ** |
(a) | For the period November 24, 2015 (commencement of operations) through August 31, 2016. |
(b) | For the period April 5, 2018 (commencement of operations) through August 31, 2018. |
(c) | Based on average shares outstanding during the period. |
(d) | The Total Return would have been lower if certain fees had not been reimbursed by the Advisor. |
(e) | Portfolio turnover rate does not include securities received or delivered from processing creations or redemptions. |
* | Annualized. |
** | Not Annualized. |
See Notes to Financial Statements. | 78 |
DBX ETF Trust
Financial Highlights (Continued)
Xtrackers Russell 2000 Comprehensive Factor ETF Selected Per Share Data | Year Ended 8/31/2018 | Year Ended 8/31/2017 | Period Ended 8/31/2016(a) | |||||||||
Net Asset Value, beginning of period | $ | 31.16 | $ | 27.82 | $ | 25.00 | ||||||
|
|
|
|
|
| |||||||
Income (loss) from investment operations: | ||||||||||||
Net investment income (loss)(b) | 0.49 | 0.46 | 0.09 | |||||||||
Net realized and unrealized gain (loss) | 7.23 | 3.35 | 2.73 | |||||||||
|
|
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|
|
| |||||||
Total from investment operations | 7.72 | 3.81 | 2.82 | |||||||||
|
|
|
|
|
| |||||||
Less distributions from: |
| |||||||||||
Net investment income | (0.45 | ) | (0.46 | ) | — | |||||||
Net realized gains | (0.36 | ) | (0.01 | ) | — | |||||||
|
|
|
|
|
| |||||||
Total distributions | (0.81 | ) | (0.47 | ) | — | |||||||
|
|
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|
|
| |||||||
Net Asset Value, end of period | $ | 38.07 | $ | 31.16 | $ | 27.82 | ||||||
|
|
|
|
|
| |||||||
Total Return (%) | 25.08 | 13.72 | 11.28 | ** | ||||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||
Net Assets, end of period ($ millions) | 11 | 5 | 3 | |||||||||
Ratio of expenses (%) | 0.30 | 0.30 | 0.30 | * | ||||||||
Ratio of net investment income (loss) (%) | 1.42 | 1.51 | 1.79 | * | ||||||||
Portfolio turnover rate (%)(c) | 60 | 53 | 2 | ** |
(a) | For the period June 28, 2016 (commencement of operations) through August 31, 2016. |
(b) | Based on average shares outstanding during the period. |
(c) | Portfolio turnover rate does not include securities received or delivered from processing creations or redemptions. |
* | Annualized. |
** | Not Annualized. |
See Notes to Financial Statements. | 79 |
DBX ETF Trust
1. Organization
DBX ETF Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “Act”), as an open-end registered management investment company organized as a Delaware statutory trust.
As of August 31, 2018, the Trust consists of thirty-four 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 Comprehensive Factor ETF |
Xtrackers FTSE Emerging Comprehensive Factor ETF |
Xtrackers Russell 1000 Comprehensive Factor ETF |
Xtrackers Russell 1000 US QARP ETF |
Xtrackers Russell 2000 Comprehensive Factor 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, only in large specified lots consisting of 50,000 shares, each called a “Creation Unit”, to authorized participants who have entered into agreements with the Funds’ distributor. Shares are not individually redeemable securities of the Funds, and owners of the shares may acquire those shares from the Funds, or tender such shares for redemption to the Funds, in Creation Units only.
The investment objective of each Fund is to track the performance, before fees and expenses, of a particular index (the “Underlying Index”). The underlying indices for the Funds are:
Fund | Underlying Index | |
Xtrackers FTSE Developed ex US Comprehensive Factor ETF | FTSE Developed ex US Comprehensive Factor Index | |
Xtrackers FTSE Emerging Comprehensive Factor ETF | FTSE Emerging Comprehensive Factor Index | |
Xtrackers Russell 1000 Comprehensive Factor ETF | Russell 1000 Comprehensive Factor Index | |
Xtrackers Russell 1000 US QARP ETF | Russell 1000 2Qual/Val 5% Capped Factor Index | |
Xtrackers Russell 2000 Comprehensive Factor ETF | Russell 2000 Comprehensive Factor Index |
The FTSE Developed ex US Comprehensive Factor Index is designed to track the equity market performance of companies in developed countries (except the United States) selected on the investment style criteria (“factors”) of value, momentum, quality, low volatility and size. The companies eligible for the Underlying Index are derived from its starting universe, the FTSE Developed ex US Index, which is comprised of large- and mid-capitalization equity securities from developed markets (except the United States). The Underlying Index is rebalanced semiannually in March and September after the close of business on the third Friday of the review month.
The FTSE Emerging Comprehensive Factor Index is designed to track the equity market performance of companies in emerging market countries 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 Emerging Index, which is comprised of large- and mid-cap equity securities from emerging markets. The Underlying Index is rebalanced semiannually in March and September after the close of business on the third Friday of the review month.
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.
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
80
DBX ETF Trust
Notes to Financial Statements (Continued)
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.
The Russell 2000 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 2000 Index, which is comprised of small-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 each Index Provider and DBX. There is no charge to the Funds in connection with these licensing agreements.
Each Fund is non-diversified and is not limited by the Act with regard to the percentage of its assets that may be invested in the securities of a single issuer. The securities of a particular issuer (or securities of issuers in particular industries) may dominate the underlying index of such a 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 Net Asset Value (“NAV”), of each Fund’s shares is calculated each business day as of the close of regular trading on the New York Stock Exchange, generally 4:00 p.m. Eastern Time. NAV per share is calculated by dividing a Fund’s net assets by the number of Fund shares outstanding.
Various inputs are used in determining the value of the Funds’ investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, and credit risk). Level 3 includes significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
Equity securities and ETFs are valued at the most recent sale price or official closing price reported on the exchange (U.S. or foreign) or over-the-counter market on which they trade. Securities 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 are generally categorized as Level 1.
Investments in open-end investment companies are valued at their net asset value each business day and are categorized as Level 1.
81
DBX ETF Trust
Notes to Financial Statements (Continued)
Futures contracts are generally valued at the settlement prices established each day on the exchange on which they are traded and are categorized as Level 1.
Securities and other assets for which market quotations are not readily available or for which the above valuation procedures are deemed not to reflect fair value are valued in a manner that is intended to reflect their fair value as determined in accordance with procedures approved by the Board and are generally categorized as Level 3. In accordance with the Funds’ valuation procedures, factors considered in determining value may include, but are not limited to, the type of the security; the size of the holding; the initial cost of the security; the existence of any contractual restrictions on the security’s disposition; the price and extent of public trading in similar securities of the issuer or of comparable companies; quotations or evaluated prices from broker-dealers and/or pricing services; information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities); an analysis of the company’s or issuer’s financial statements; an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold; and with respect to debt securities, the maturity, coupon, creditworthiness, currency denomination and the movement of the market in which the security is normally traded. The value determined under these procedures may differ from published values for the same securities.
Fair value pricing could result in a difference between the prices used to calculate a Fund’s net asset value 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.
In accordance with U.S. GAAP requirements regarding accounting for uncertainties in income taxes, management has analyzed the Funds’ tax positions taken or expected to be taken on foreign, federal and state income tax returns for all open tax years and has concluded that no provision for income tax is required in the Funds’ financial statements.
82
DBX ETF Trust
Notes to Financial Statements (Continued)
The Funds recognize interest and penalties, if any, related to uncertain tax positions as income tax expense on the Statements of Operations. For the period ended August 31, 2018, the Funds did not incur any interest or penalties.
As of August 31, 2018, 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 FTSE Developed ex US Comprehensive Factor ETF | $ | 434,377 | $ | — | $ | (180,943 | ) | $ | (235,444 | ) | $ | 17,990 | ||||||||
Xtrackers FTSE Emerging Comprehensive Factor ETF | 153,014 | 29,492 | — | (173,674 | ) | 8,832 | ||||||||||||||
Xtrackers Russell 1000 Comprehensive Factor ETF | 471,966 | — | (3,636,406 | ) | 15,327,788 | 12,163,348 | ||||||||||||||
Xtrackers Russell 1000 US QARP ETF | 237,491 | — | (342,023 | ) | 3,824,638 | 3,720,106 | ||||||||||||||
Xtrackers Russell 2000 Comprehensive Factor ETF | 34,581 | — | (322,521 | ) | 1,492,333 | 1,204,393 |
The tax character of dividends and distributions declared for the periods ended August 31, 2018 and August 31, 2017 were as follows:
Period Ended August 31, 2018 | ||||||||
Ordinary Income* | Long Term Capital Gains | |||||||
Xtrackers FTSE Developed ex US Comprehensive Factor ETF | $ | 1,119,637 | $ | — | ||||
Xtrackers FTSE Emerging Comprehensive Factor ETF | 531,525 | 2,798 | ||||||
Xtrackers Russell 1000 Comprehensive Factor ETF | 2,163,877 | — | ||||||
Xtrackers Russell 1000 US QARP ETF | 177,934 | — | ||||||
Xtrackers Russell 2000 Comprehensive Factor ETF | 217,731 | 4,364 | ||||||
Year Ended August 31, 2017 | ||||||||
Ordinary Income* | Long Term Capital Gains | |||||||
Xtrackers FTSE Developed ex US Comprehensive Factor ETF | $ | 163,100 | $ | — | ||||
Xtrackers FTSE Emerging Comprehensive Factor ETF | 149,950 | — | ||||||
Xtrackers Russell 1000 Comprehensive Factor ETF | 964,811 | — | ||||||
Xtrackers Russell 2000 Comprehensive Factor ETF | 54,712 | 319 |
* | For tax purposes short-term capital gain distributions are considered ordinary income distributions. |
At August 31, 2018, 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 Comprehensive Factor ETF | $ | 165,066 | $ | 15,877 | $ | 180,943 | ||||||
Xtrackers Russell 1000 Comprehensive Factor ETF | 778,819 | — | 778,819 | |||||||||
Xtrackers Russell 2000 Comprehensive Factor ETF | 85,257 | 8,642 | 93,899 |
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 period ended August 31, 2018, the Funds incurred and will elect to defer post-October capital losses as follows:
Post-October Losses on Capital | ||||
Xtrackers Russell 1000 Comprehensive Factor ETF | $ | 2,857,587 | ||
Xtrackers Russell 1000 US QARP ETF | 342,023 | |||
Xtrackers Russell 2000 Comprehensive Factor ETF | 228,622 |
In order to present paid-in capital accumulated net realized gains or losses on the Statements of Assets and Liabilities that more closely represent their tax character, certain adjustments have been made to additional
83
DBX ETF Trust
Notes to Financial Statements (Continued)
paid-in capital, undistributed net investment income or loss and accumulated net realized gains or losses on investments. These differences are primarily due to investments in futures, redemptions-in-kind, foreign currency, equalization, partnership investments and passive foreign investment companies (“PFICs”). For the period ended August 31, 2018, the adjustments were as follows:
Undistributed Net Investment Income (Loss) | Undistributed Capital Gains (Accumulated Losses) | Paid-In Capital | ||||||||||
Xtrackers FTSE Developed ex US Comprehensive Factor ETF | $ | 226,839 | $ | (441,076 | ) | $ | 214,237 | |||||
Xtrackers FTSE Emerging Comprehensive Factor ETF | (13,359 | ) | (691,584 | ) | 704,943 | |||||||
Xtrackers Russell 1000 Comprehensive Factor ETF | 8,749 | (10,822,368 | ) | 10,813,619 | ||||||||
Xtrackers Russell 1000 US QARP ETF | — | (513,691 | ) | 513,691 | ||||||||
Xtrackers Russell 2000 Comprehensive Factor ETF | 71 | (1,084,336 | ) | 1,084,265 |
As of August 31, 2018, the aggregate cost of investments for federal income tax purposes, the net unrealized appreciation or (depreciation) and the aggregated gross unrealized appreciation (depreciation) on investments were as follows:
Aggregate Tax Cost | Net Unrealized Appreciation (Depreciation) | Aggregate Gross Unrealized Appreciation | Aggregate Gross Unrealized (Depreciation) | |||||||||||||
Xtrackers FTSE Developed ex US Comprehensive Factor ETF | $ | 59,345,118 | $ | (234,948 | ) | $ | 3,302,210 | $ | (3,537,158 | ) | ||||||
Xtrackers FTSE Emerging Comprehensive Factor ETF | 6,615,750 | (168,038 | ) | 615,117 | (783,155 | ) | ||||||||||
Xtrackers Russell 1000 Comprehensive Factor ETF | 153,937,903 | 15,327,788 | 18,097,094 | (2,769,306 | ) | |||||||||||
Xtrackers Russell 1000 US QARP ETF | 57,442,816 | 3,824,638 | 5,006,729 | (1,182,091 | ) | |||||||||||
Xtrackers Russell 2000 Comprehensive Factor ETF | 10,144,943 | 1,492,357 | 1,730,369 | (238,012 | ) |
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). Foreign taxes payable as of August 31, 2018, 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 year end. Purchases and sales of investment securities, income and expenses are translated into U.S. dollars at the prevailing exchange rates on the respective dates of the transactions.
Net realized and unrealized gains and losses on foreign currency transactions represent net gains and losses between trade and settlement dates on securities transactions, the acquisition and disposition of foreign currencies, and the difference between the amount of net investment income accrued and the U.S. dollar amount actually received. The portion of both realized and unrealized gains and losses on investments that results from fluctuations in foreign currency exchange rates is not separately disclosed, but is included with net realized and unrealized gain/appreciation and loss/depreciation on investments.
Securities Lending The Funds may lend securities to certain financial institutions under the terms of their securities lending agreement. During the term of the loans the Funds continue to receive interest and dividends generated by the securities and to participate in any changes in their market value. The Funds require the borrowers of the securities to maintain collateral with the Funds consisting of cash and/or U.S. Treasury securities having a value at least equal to the value of the securities loaned. When the collateral falls below specified amounts, the lending agent will use its best effort to obtain additional collateral on the next business day to meet required amounts under the securities lending agreement. During the period ended August 31, 2018, the Funds
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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 (0.14% annualized effective rate as of August 31, 2018) on the cash collateral invested in DWS Government & Agency Securities Portfolio. The Funds receive compensation for lending their securities either in the form of fees or by earning interest on invested cash collateral net of borrower rebates and fees paid to a lending agent. Either the Fund or the borrower may terminate the loan at any time and the borrower, after notice, is required to return borrowed securities within a standard time period. There may be risks of delay and costs in recovery of securities or even loss of rights in the collateral should the borrower of the securities fail financially. If the Funds are not able to recover securities lent, the Funds may sell the collateral and purchase a replacement investment in the market, incurring the risk that the value of the replacement security is greater than the value of the collateral. The Funds are also subject to all investment risks associated with the reinvestment of any cash collateral received, including, but not limited to, interest rate, credit and liquidity risk associated with such investments.
As of August 31, 2018, the Funds listed below had securities on loan, which were classified as Common Stocks in the Schedule of Investments. 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, 2018 | ||||||||||||||||||||
Overnight and Continuous | <30 Days | Between 30 & 90 days | >90 days | Total | ||||||||||||||||
Securities Lending Transactions |
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Xtrackers FTSE Developed ex US Comprehensive Factor ETF |
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Common Stocks | $ | 227,652 | $ | — | $ | — | $ | 131,694 | $ | 359,346 | ||||||||||
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Gross amount of recognized liabilities for securities lending transactions |
| $ | 359,346 | |||||||||||||||||
Xtrackers FTSE Emerging Comprehensive Factor ETF |
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Common Stocks | $ | 90,527 | $ | 170 | $ | 302 | $ | 8,352 | $ | 99,351 | ||||||||||
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Gross amount of recognized liabilities for securities lending transactions |
| $ | 99,351 | |||||||||||||||||
Xtrackers Russell 1000 Comprehensive Factor ETF |
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Common Stocks | $ | 64,770 | $ | 107,813 | $ | 602,773 | $ | 9,628,277 | $ | 10,403,633 | ||||||||||
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Gross amount of recognized liabilities for securities lending transactions |
| $ | 10,403,633 | |||||||||||||||||
Xtrackers Russell 1000 US QARP ETF |
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Common Stocks | $ | — | $ | 1,037 | $ | 72,884 | $ | 1,321,868 | $ | 1,395,789 | ||||||||||
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Gross amount of recognized liabilities for securities lending transactions |
| $ | 1,395,789 | |||||||||||||||||
Xtrackers Russell 2000 Comprehensive Factor ETF |
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Common Stocks | $ | 311,072 | $ | 69,140 | $ | 146,186 | $ | 2,148,096 | $ | 2,674,494 | ||||||||||
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Gross amount of recognized liabilities for securities lending transactions |
| $ | 2,674,494 |
Derivatives
Futures Contracts Each Fund may enter into futures contracts. These futures contracts will be used to simulate investment in the respective Underlying Index, to facilitate trading or to reduce transaction costs. Each Fund will enter into futures contracts that are traded on a U.S. or non-U.S. exchange. No Fund will use futures for speculative purposes. Futures contracts provide for the future sale by one party and purchase by another party of a specified amount of a specific instrument or index at a specified future time and at a specified price. For the period ended August 31, 2018, Xtrackers FTSE Developed ex US Comprehensive Factor ETF, Xtrackers FTSE Emerging Comprehensive Factor ETF, Xtrackers Russell 1000 Comprehensive Factor ETF, Xtrackers Russell 1000 US QARP ETF and Xtrackers Russell 2000 Comprehensive Factor 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
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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, 2018 is included in a table following the Funds’ Schedule of Investments.
The following tables summarize the value of the Funds’ derivative instruments held as of August 31, 2018 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 Comprehensive Factor ETF | ||||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | — | Unrealized depreciation on futures contracts* | $ | 2,145 | ||||||||
Xtrackers FTSE Emerging Comprehensive Factor ETF | ||||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | — | Unrealized depreciation on futures contracts* | $ | 3,820 | ||||||||
Xtrackers Russell 1000 Comprehensive Factor ETF | ||||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | 53,103 | Unrealized depreciation on futures contracts* | $ | — | ||||||||
Xtrackers Russell 2000 Comprehensive Factor ETF | ||||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | 2,945 | Unrealized depreciation on futures contracts* | $ | — |
* | Includes cumulative appreciation or cumulative depreciation of futures contracts as disclosed in the Schedule of Investments. Unsettled variation margin is disclosed separately within the Statement of Assets and Liabilities. |
Additionally, the amount of realized and unrealized gains and losses on derivative instruments recognized in the Funds’ earnings during the period ended August 31, 2018 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 Comprehensive Factor ETF | $ | (8,665 | ) | |
Xtrackers FTSE Emerging Comprehensive Factor ETF | 24,902 | |||
Xtrackers Russell 1000 Comprehensive Factor ETF | 162,327 | |||
Xtrackers Russell 1000 US QARP ETF | (3,415 | ) | ||
Xtrackers Russell 2000 Comprehensive Factor ETF | 8,245 | |||
Net Change in Unrealized Appreciation (Depreciation) on: | ||||
Futures Contracts — Equity Contracts | ||||
Xtrackers FTSE Developed ex US Comprehensive Factor ETF | $ | (2,145 | ) | |
Xtrackers FTSE Emerging Comprehensive Factor ETF | (628 | ) | ||
Xtrackers Russell 1000 Comprehensive Factor ETF | 52,200 | |||
Xtrackers Russell 2000 Comprehensive Factor ETF | 2,945 |
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Notes to Financial Statements (Continued)
For the period ended August 31, 2018 the average monthly volume of derivatives was as follows:
Futures Contracts (Contract Value) | ||||
Xtrackers FTSE Developed ex US Comprehensive Factor ETF | $ | 76,574 | ||
Xtrackers FTSE Emerging Comprehensive Factor ETF | 246,031 | |||
Xtrackers Russell 1000 Comprehensive Factor ETF | 1,425,422 | |||
Xtrackers Russell 1000 US QARP ETF | 35,670 | |||
Xtrackers Russell 2000 Comprehensive Factor ETF | 31,687 |
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 management fee from each Fund based on each Fund’s average daily net assets, computed and accrued daily and payable monthly, at an annual rate equal to:
Unitary Management Fee | ||||
Xtrackers FTSE Developed ex US Comprehensive Factor ETF | 0.35 | % | ||
Xtrackers FTSE Emerging Comprehensive Factor ETF | 0.50 | % | ||
Xtrackers Russell 1000 US QARP ETF | 0.19 | % | ||
Xtrackers Russell 2000 Comprehensive Factor ETF | 0.30 | % |
For its investment advisory services to Xtrackers Russell 1000 Comprehensive Factor ETF for the period from September 1, 2017 through July 16, 2018, the Advisor received a unitary management fee based on the Fund’s average daily net assets, computed and accrued daily and payable monthly, at an annual rate equal to 0.19%.
For the period from February 20, 2018 through July 16, 2018, the Advisor had voluntarily agreed to waive a portion of its unitary management fee to the extent necessary to prevent the operating expenses of Xtrackers Russell 1000 Comprehensive Factor ETF from exceeding 0.17% of the Fund’s average daily net assets. For the period from February 20, 2018 through July 16, 2018, the Advisor waived $12,013 of expenses to the Fund.
Effective July 17, 2018 the Board of Trustees approved a reduction in Xtrackers Russell 1000 Comprehensive Factor ETF’s unitary management fee to 0.17% and accordingly terminated the Advisor’s voluntary expense limitation.
Out of the unitary management 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, taxes, brokerage expenses, distribution fees or expenses, if any, litigation expenses and extraordinary expenses.
The Bank of New York Mellon, a wholly-owned subsidiary of The Bank of New York Mellon Corporation, serves as Administrator, Custodian, Accounting Agent, Lending Agent and Transfer Agent for each Fund.
ALPS Distributors, Inc. (the “Distributor”) serves as the distributor of Creation Units for each Fund on an agency basis. The Distributor does not maintain a secondary market in shares of the Funds.
The Board of Trustees is currently comprised of four Trustees, including 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).
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4. Investment Portfolio Transactions
For the period ended August 31, 2018, 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 Comprehensive Factor ETF | $ | 24,653,694 | $ | 20,451,107 | ||||
Xtrackers FTSE Emerging Comprehensive Factor ETF | 5,743,264 | 7,625,463 | ||||||
Xtrackers Russell 1000 Comprehensive Factor ETF | 63,306,460 | 64,056,761 | ||||||
Xtrackers Russell 1000 US QARP ETF (1) | 12,409,926 | 12,452,860 | ||||||
Xtrackers Russell 2000 Comprehensive Factor ETF | 5,579,119 | 7,472,148 |
For the period ended August 31, 2018, the cost of in-kind purchases and proceeds from in-kind sales were as follows:
Purchases | Sales | |||||||
Xtrackers FTSE Developed ex US Comprehensive Factor ETF | $ | 40,983,645 | $ | 1,433,977 | ||||
Xtrackers FTSE Emerging Comprehensive Factor ETF | — | 3,070,168 | ||||||
Xtrackers Russell 1000 Comprehensive Factor ETF | 104,668,033 | 52,875,560 | ||||||
Xtrackers Russell 1000 US QARP ETF (1) | 65,068,258 | 7,756,284 | ||||||
Xtrackers Russell 2000 Comprehensive Factor ETF | 10,278,996 | 3,471,258 |
(1) | For the period April 5, 2018 (commencement of operations) through August 31, 2018. |
5. Fund Share Transactions
As of August 31, 2018, there were unlimited Fund shares, no par value, authorized by the Trust. Fund shares are issued and redeemed by each Fund only in Creation Units or multiples thereof. Except when aggregated in Creation Units, shares of each Fund are not redeemable. Transactions in capital shares for each Fund are disclosed in detail in the Statements of Changes in Net Assets. The consideration for the purchase of Creation Units of a Fund generally consists of the in-kind contribution of a designated portfolio of securities constituting a portfolio sampling representation of the securities included in the respective Fund’s underlying index and an amount of cash, which under certain circumstances may include cash in lieu of portfolio securities. Investors purchasing and redeeming Creation Units pay a purchase transaction fee and a redemption transaction fee to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units.
6. Investing in Emerging Markets
The securities of issuers located in emerging markets tend to be more volatile and less liquid than securities of issuers located in more mature economies, and emerging markets generally have less diverse and less mature economic structures and less stable political systems than those of developed countries. The securities of issuers located or doing substantial business in emerging markets are often subject to rapid and large changes in price.
7. Line of Credit
The Trust has entered into a senior unsecured credit facility with a syndication of banks which allows the Xtrackers FTSE Emerging Comprehensive Factor ETF and certain other funds managed by the Advisor to borrow up to $105 million. The Fund may borrow money under this credit facility to the extent necessary for temporary or emergency purposes, including the funding of shareholder redemption requests, trade settlements, and as necessary to distribute to shareholders any income necessary to maintain the Fund’s status as a regulated investment company. Borrowings are charged an interest rate of 1.25% per annum plus the greater of the Federal Funds Effective Rate or the one-month LIBOR Rate. The Fund may borrow up to the lesser of a pro-rata share of the credit facility at the amount listed below or 33 percent of its net assets as permitted by the Act. The Fund had no outstanding loans at August 31, 2018.
Pro-rata Share | ||||
Xtrackers FTSE Emerging Comprehensive Factor ETF | $ | 525,000 |
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DBX ETF Trust
To the Shareholders of
Xtrackers FTSE Developed ex US Comprehensive Factor ETF, Xtrackers FTSE Emerging Comprehensive Factor ETF, Xtrackers Russell 1000 Comprehensive Factor ETF, Xtrackers Russell 1000 US QARP ETF, Xtrackers Russell 2000 Comprehensive Factor 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 Comprehensive Factor ETF, Xtrackers FTSE Emerging Comprehensive Factor ETF, Xtrackers Russell 1000 Comprehensive Factor ETF, Xtrackers Russell 1000 US QARP ETF, and Xtrackers Russell 2000 Comprehensive Factor ETF (collectively referred to as the “Funds”), (five of the funds constituting DBX ETF Trust), including the schedules of investments, as of August 31, 2018, 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, 2018, 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. general 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 Comprehensive Factor ETF
Xtrackers Russell 1000 Comprehensive Factor ETF | For the year ended August 31, 2018 | For each of the two years in the period ended August 31, 2018 | For each of the two years in the period ended August 31, 2018 and the period from November 24, 2015 (commencement of operations) through August 31, 2016 | |||
Xtrackers FTSE Emerging Comprehensive Factor ETF | For the year ended August 31, 2018 | For each of the two years in the period ended August 31, 2018 | For each of the two years in the period ended August 31, 2018 and the period from April 19, 2016 (commencement of operations) through August 31, 2016 | |||
X-trackers Russell 2000 Comprehensive Factor ETF | For the year ended August 31, 2018 | For each of the two years in the period ended August 31, 2018 | For each of the two years in the period ended August 31, 2018 and the period from June 28, 2016 (commencement of operations) through August 31, 2016 | |||
Xtrackers Russell 1000 US QARP ETF | For the period from April 5, 2018 (commencement of operations) through August 31, 2018 |
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.
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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 the 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, 2018, by correspondence with the custodians and brokers or by other appropriate auditing procedures where replies from brokers were not received. 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 29, 2018
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DBX ETF Trust
Name, Year of Birth and Address | Position(s) Held with Fund | Terms of Office and Length of Time Served | Principal Occupation(s) During Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships held by Trustee | |||||
Independent Trustees | ||||||||||
Stephen R. Byers (1953) 345 Park Avenue New York, New York 10154 | Trustee, Chairman of the Board and Member of the Audit and Nominating Committees; formerly, Lead Independent Trustee | Trustee since 2011 (Chairman | Independent Director (2011-present); Independent Consultant (2014-present); formerly, Director of Investment Management, the Dreyfus Corporation (2000-2006) and Vice Chairman and Chief Investment Officer (2002-2006). | 34 | The Arbitrage Funds; Sierra Income Corporation; Mutual Fund Directors Forum. | |||||
George O. Elston (1964) 345 Park Avenue New York, New York 10154 | Trustee, Chairman of the Audit Committee and Member of the Nominating Committee | Trustee since 2011 (Chairman | Chief Executive Officer, 2X Oncology, Inc. (2017-present); Senior Vice President and Chief Financial Officer, Juniper Pharmaceuticals, Inc. (2014-2016); Senior Vice President and Chief Financial Officer, KBI BioPharma Inc. (2013-2014); Managing Partner, Chatham Street Partners (2010-2013). | 34 | ||||||
J. David Officer (1948) 345 Park Avenue New York, New York 10154 | Trustee, Chairman of the Nominating Committee and Member of the Audit Committee | Trustee since 2011 (Chairman | Independent Director (2010-present); formerly, Vice Chairman, the Dreyfus Corporation (2006-2009); President, The Dreyfus Family of Funds, Inc. (2006-2009). | 34 | Ilex Partners (Asia), LLC; Old Westbury Funds. |
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DBX ETF Trust
Trustees and Officers (Unaudited) (Continued)
Name, Year of Birth and Address | Position(s) Held with Fund | Terms of Office and Length of Time Served | Principal Occupation(s) During Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships held by Trustee | |||||
Interested Trustee | ||||||||||
Michael Gilligan (1966) 345 Park Avenue New York, New York 10154 | Trustee Treasurer, Chief Financial Officer and Controller | Trustee since 2016; Treasurer, Chief Financial Officer and Controller since 2010 | Director in the Finance Division at DWS Investment Management Americas, Inc. (2008-present); Manager, Treasurer and Chief Financial Officer of the Advisor (2010-present); Chief Financial Officer of Global Passive Asset Management Platform (2012-present); Chief Financial Officer of RREEF America LLC (2018-present). | 34 | The Advisor, DBX Strategic Advisors LLC and DB Commodity Services LLC | |||||
Name, Year of Birth and Address | Position(s) Held with Fund | Terms of Office and Length of Time Served | Principal Occupation(s) During Past 5 Years | |||||||
Officers | ||||||||||
Freddi Klassen (1975) 345 Park Avenue New York, New York 10154 | President and Chief Executive Officer | Since 2016 | Director in DWS and Chief of Staff Office in the Americas for the Traditional Asset Classes Department (2014-present); Manager and Chief Operating Officer of DWS Investment Management Americas, Inc. (2018-present), the Advisor and DBX Strategic Advisors LLC and DB Commodity Services LLC (2016-present); Global Chief Operating Officer for Equities Technology in the Investment Bank Division at Deutsche Bank AG (2013-2014); Chief Operating Officer for Exchange Traded Funds and Systematic Funds in Europe (2008-2013). | |||||||
Fiona Bassett (1974) 345 Park Avenue New York, New York 10154 | Chief Operating Officer | Since 2014 | Managing Director in DWS and Head of Passive Americas Asset Management Platform (2014-present); Manager and Chief Executive Officer and Chief Investment Officer of the Advisor (2014-present); Managing Director, COO Global Key Projects and Integration at Deutsche Asset Management (2012-2014); Managing Director at Deutsche Bank AG (2004-2012). |
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DBX ETF Trust
Trustees and Officers (Unaudited) (Continued)
Name, Year of Birth and Address | Position(s) Held with Fund | Terms of Office and Length of Time Served | Principal Occupation(s) During Past 5 Years | |||||||
Frank Gecsedi (1967) 345 Park Avenue New York, New York 10154 | Chief Compliance Officer | Since 2010 | Director in the DWS Compliance Department (2016-present), Vice President in the Deutsche Asset Management Compliance Department at Deutsche Bank AG (2013-2016) and Chief Compliance Officer of the Advisor (2010-present); Vice President in Deutsche Bank’s Global Markets Legal, Risk and Capital Division (2010-2012). | |||||||
Bryan Richards (1978) 345 Park Avenue New York New York 10154 | Vice President | Since 2016 | Managing Director in DWS (2018-present); Director in DWS (2014-2018); Portfolio Manager in the Passive Asset Management Department at Deutsche Bank AG (2011-present); Primary Portfolio Manager for the PowerShares DB Commodity ETFs (2011-2015). | |||||||
Leslie Lowenbraun (1953) 345 Park Avenue New York, New York 10154 | Secretary | Since 2016 | Director in U.S. Retail Passive Legal of DWS (2018-present) and Chief Legal Officer of the Advisor (2017-present); Vice President in U.S. Retail Passive Legal of DWS (2014-2018) ; Counsel at Skadden, Arps, Slate, Meagher & Flom LLP (2005-2014). | |||||||
Amy McDonald (1978) One International Place Boston, Massachusetts 02110 | Assistant Secretary | Since 2018 | Vice President in U.S. Retail Passive Legal of DWS (2018-present); Vice President, Fidelity Investments Asset Management Compliance (2016-2017); Legal Counsel and Senior Legal Counsel, Fidelity Investments (2010-2016). | |||||||
Kevin Teevan (1973) 345 Park Avenue New York, New York 10154 | Assistant Treasurer | Since 2018 | Vice President in Finance for U.S. Traditional Asset Classes of DWS (2018-present); Vice President in Chief Operating Office for Global Transaction Banking at Deutsche Bank AG (2014-2017); Vice President in Finance for U.S. Passive Asset Management Platform at Deutsche Bank AG (2011-2014). | |||||||
Christina A. Morse (1964) BNY Mellon Asset Servicing, Atlantic Terminal Office Tower, 2 Hanson Place Brooklyn, NY 11217 | Assistant Secretary | Since 2016 | Vice President at BNY Mellon-Asset Servicing (2014-present); Vice President and Counsel at Lord Abbett & Co. LLC (2013-2014). |
Each Trustee serves until his or her successor is duly elected or appointed and qualified. Each officer serves until he or she resigns, is removed, dies, retires or becomes disqualified.
The Funds’ SAI includes additional information about the Funds’ Trustees and is available by calling 855-329-3837, or on the Company’s website at www.Xtrackers.com
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Xtrackers Russell 1000 US QARP ETF
At a meeting held on November 14, 2017, the Board of Trustees (“Board” or “Trustees”), including the Independent Trustees (those not affiliated with DBX ETF Trust (the “Trust”) or its service providers), unanimously approved the Investment Advisory Agreement with respect to Xtrackers Russell 1000 US QARP ETF (the “Fund”). The Independent Trustees were advised throughout the review and meetings by Independent Trustees’ Counsel.
In reaching this decision, the Board considered all factors it believed relevant, including (1) the nature, extent and quality of the services to be provided to the Fund and its shareholders; (2) the financial resources of DBX Advisors LLC (“DBX” or the “Advisor”) and its expected ability to perform its obligations under the Investment Advisory Agreement; (3) the competitiveness of the advisory fee; (4) the total cost of the services to be provided by and the anticipated profits that could be realized by the Advisor from its relationship with the Fund; and (5) the extent to which economies of scale would be realized as the Fund grows, and if the Fund’s shareholders would benefit from those economies.
The Board reached a determination, with the assistance of Trust Counsel and through the exercise of its business judgment, that approval of the Investment Advisory Agreement and the compensation to be received thereunder would be in the best interests of the Fund and its shareholders as well as consistent with the Board’s duties under state and federal law. The Board reached this conclusion based on its evaluation of the following multiple factors in consultation with Independent Trustees’ Counsel:
The Board considered the following in determining whether to approve the Investment Advisory Agreement:
Nature, Extent and Quality of Services. The Board reviewed in detail the nature, extent and quality of services to be provided by the Advisor under the Investment Advisory Agreement. The Board noted that these services include, among other things, furnishing a continuous investment program for the Fund, including arranging for, or implementing, the purchase and sale of portfolio securities, the provision of general corporate services such as portfolio management compliance services and the preparation and filing of certain reports on behalf of the Trust. The Board also considered, among other things, the professional experience and qualifications of the senior management and key professional personnel of the Advisor, including portfolio management. The Board noted that the Advisor will provide, at its own expense, office facilities and equipment for use by the Fund and supervisory persons responsible for supervising and monitoring the Trust’s service providers. The Board also took into account that the Advisor will pay, or arrange for payment of, the compensation of officers of the Trust who are also officers or employees of the Advisor or one of its Deutsche Bank affiliates, except as may otherwise be determined by the Board. The Board also considered that the Advisor arranges for the provision of transfer agency, custody, fund administration and accounting, and other non-distribution services necessary for the Fund’s operations. The Board also noted that in addition to managing the Fund’s portfolio directly, the Advisor would provide oversight of day-to-day operations, including monitoring tracking error, providing services in connection with the creation and redemption of creation units and assistance in meeting legal, compliance and regulatory requirements applicable to the Fund.
Based on its review, the Board concluded that the nature, extent, and quality of services to be provided by the Advisor under the Investment Advisory Agreement are reasonable and appropriate in relation to the fee to be paid to the Advisor, taking special consideration of the fact that the advisory fee is a unitary fee and, as a result, a portion of the unitary advisory fee will be used to compensate the Fund’s service providers. The Board considered the staffing of the Advisor, including the training, qualifications and experience of investment personnel in managing the Fund. The Board also drew upon its experience as Trustees of the other exchange traded funds currently managed by the Advisor and considered the expertise of the Advisor in supervising third party service providers to those funds, such as the administrator and the custodian (which would also provide those services to the Fund), noting the Advisor’s extensive work with these service providers (including onsite due diligence sessions) to conduct such supervision (which would cover the Fund as well). The Board further considered the compliance program of the Advisor, which supports the compliance program of the Advisor’s currently-managed funds (which would also cover the Fund).
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DBX ETF Trust
Board Considerations in Approval of Investment Advisory
Contracts (Unaudited) (Continued)
Advisor’s Financial Resources. In connection with the assessment of the ability of the Advisor to perform its duties under the Investment Advisory Agreement, the Board considered the Advisor’s financial condition and whether it has the resources necessary to carry out its functions. The Board concluded that the Advisor has the financial resources necessary to perform its obligations under the Investment Advisory Agreement.
Reasonableness of Advisory Fee. The Board compared the Fund’s proposed advisory fee to that of other pertinent exchange-traded funds (“ETFs”), and noted that the Fund’s fee is competitive with the fees of its peer group. The Board stated that it is familiar with the Advisor’s methodology for selecting a fund’s peer group and believed that the Fund’s peer group was appropriate. The Board noted that the proposed fee for the Fund is a unitary fee pursuant to which the Advisor pays all of the Fund’s costs (subject to certain exceptions). The Board also noted that the Fund’s portfolio would be managed on a day-to-day basis by the Advisor and that the Advisor also would provide oversight of day-to-day operations, including monitoring tracking error, providing services in connection with creation and redemption units and assistance in meeting legal and regulatory requirements applicable to the Fund. Based on its review, the Board concluded that the advisory fee for the Fund is reasonable in light of the services provided.
Costs of Services and Profitability. The Board considered the anticipated expenses of the Advisor in developing and rendering services to be provided to the Fund and the likelihood and level of profits in the early years of the Fund’s operations. The Board noted that because the Fund is new, it was difficult to estimate the profitability of the Fund to the Advisor at this time. The Board considered whether the Advisor would benefit in other ways from its relationships with the Fund and concluded that there were no material fall-out benefits likely to accrue to the Advisor related to the operation of the Fund.
Economies of Scale. The Board noted that because the Fund was new, it was difficult to estimate whether the Fund would experience economies of scale. The Board determined to evaluate economies of scale on an ongoing basis as a result of asset growth of the Fund.
Given all the information available to it and considering all material factors, the Board concluded that the Investment Advisory Agreement was fair and reasonable, and it was unanimously approved.
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DBX ETF Trust
Proxy Voting Policies and Procedures
The Funds’ policies and procedures for voting proxies for portfolio securities and information about how each Fund voted proxies related to its portfolio securities during the most recent 12-month period ended June 30 are available on our Web site — www.Xtrackers.com (click on “Resources” and “Proxy Voting” at the top of the page) — or on the SEC’s Web site — www.sec.gov. To obtain a written copy of the Funds’ policies and procedures without charge, upon request, call us toll free at (855) 329-3837.
Quarterly Portfolio Disclosure
The Funds are required to file their complete schedule of portfolio holdings with the SEC for their first and third fiscal quarters on Form N-Q. Copies of the filings are available without charge, upon request on the SEC’s website at www.sec.gov and are available by calling the Trust at 855-329-3837. You can also obtain copies of Form N-Q by (i) visiting the SEC’s Public Reference Room in Washington, DC (information on the operation of the Public Reference Room may be obtained by calling 800-SEC-0330); (ii) sending your request and a duplicating fee to the SEC’s Public Reference Room, Washington, DC 20549-0102; or (iii) sending your request electronically to publicinfo@sec.gov.
Information about each Fund’s portfolio holdings is available daily at www.Xtrackers.com.
Discount & Premium Information
Information regarding how often shares of each Fund traded on NYSE Arca at a price above (i.e., at a premium) or below (i.e., at a discount) the Net Asset Value of the Fund can be found at www.Xtrackers.com.
Tax Information
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, 2018.
Qualified Dividend Income* | Dividends Received Deduction* | |||||||
Xtrackers FTSE Developed ex US Comprehensive Factor ETF | 79% | 0% | ||||||
Xtrackers FTSE Emerging Comprehensive Factor ETF | 38% | 0% | ||||||
Xtrackers Russell 1000 Comprehensive Factor ETF | 94% | 87% | ||||||
Xtrackers Russell 1000 US QARP ETF | 100% | 99% | ||||||
Xtrackers Russell 2000 Comprehensive Factor ETF | 61% | 58% |
* 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 Income | |||||||
Xtrackers FTSE Developed ex US Comprehensive Factor ETF | $1,466,039 | $101,893 | ||||||
Xtrackers FTSE Emerging Comprehensive Factor ETF | 296,246 | 31,348 |
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DBX ETF Trust
DBX Advisors LLC (“Advisors”) collects non-public information about you from the following sources: (i) information received from you on applications or other forms; and (ii) information about your transactions with the Advisors, Advisors’ affiliates and third-party service providers and vendors. Advisors does not disclose any non-public personal information about you to anyone, other than as set forth below, as permitted by applicable law and regulation. Advisors may disclose non-public personal information about you to the funds in which you invest, to Advisors’ affiliates, and to non-affiliated companies that work with Advisors to service your account(s), or to provide services or process transactions that you have requested. Advisors may disclose non-public personal information in situations that may include, but are not limited to, in response to legal and/or regulatory inquiries and the proposed or actual sale, assignment merger or other transfer of all or a portion of Advisors’ business to another business entity. Advisors may also disclose non-public personal information about you to parties representing you, such as your investment representative, your accountant, your tax advisor, or to other third parties at your direction/consent. Advisors will not sell, rent, license or trade your personal and financial information to or with third parties for their own direct marketing use unless you give us general or specific consent to do so. If you decide to close your account(s) or become an inactive customer, Advisors will adhere to the privacy policies and practices as described in this notice. Advisors restricts access to your personal and account information to those employees who need to know that information to provide products and services to you. Advisors maintains reasonable and customary physical, electronic and procedural safeguards to guard your non-public personal information.
Advisors reserves the right, at their discretion, to change, modify, add, or remove portions of this Privacy Policy Notice, and any of the policies described herein, at any time. Advisors will indicate any such changes to the Privacy Policy Notice at the privacy link which can be found at www.Xtrackers.com. At all times, you are bound by the then-current version of the Privacy Policy and all applicable laws. Advisors highly recommends that you review this Privacy Policy Notice from time to time to ensure that you are familiar with the most recent version. The examples contained in this Privacy Policy Notice are illustrations; they are not intended to be exclusive.
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DBX ETF Trust
This report is intended for the shareholders of the DBX ETF Trust.
This report must be preceded or accompanied by a prospectus.
Investing involves risk, including the possible loss of principal. Stocks may decline in value. With respect to DEEF and DEMG, 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. Further, with respect to DEMG only, 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 concentrating in a single industry (or groups of industries), country or in a limited geographic region to the extent the Underlying Indexes are so concentrated, generally are more volatile than more diversified funds. Additionally, with respect to DESC only, small company stocks tend to be more volatile and less liquid than medium-sized or large company stocks. Because the Funds seek to provide exposure to stocks based on the following multifactors — value, momentum, quality, low volatility and size — it is expected, exposure to such investment factors will detract from performance in some market environments, as more fully explained in the Funds’ prospectus. These funds are non-diversified and can take larger positions in fewer issues, increasing their potential risk. Performance of a Fund may diverge from that of its Underlying Index due to operating expenses, transaction costs, cash flows, use of sampling strategies or operational inefficiencies. An investment in any Fund should be considered only as a supplement to a complete investment program for those investors willing to accept the risks associated with that Fund. Please read the prospectus for more information.
Shares of the Funds are bought and sold at market price (not NAV) throughout the day on the New York Stock Exchange. Transactions in Fund shares may result in brokerage commissions and may generate tax consequences. There can be no assurance that an active trading market for shares of a Fund will develop or be maintained.
DBX ETF Trust Funds are distributed by ALPS Distributors, Inc. (“ALPS”). The Funds are managed by DBX Advisors LLC which is not affiliated with ALPS.
The brand DWS represents DWS Group GmbH & Co. KGaA and any of its subsidiaries such as DWS Distributors, Inc. which offers investment products or Deutsche Investment Management Americas Inc. and RREEF America L.L.C. which offer advisory services.
The Funds are not in any way sponsored, endorsed, sold or promoted by the London Stock Exchange Group companies, which include FTSE International Limited (“FTSE”), Frank Russell Company (“Russell”), MTS Next Limited (“MTS”) and FTSE TX Global Debt Capital Markets Inc (“FTSE TMX”) (together “LSEG”). LSEG makes no claim, prediction, warranty or representation whatsoever, expressly or impliedly, either as to (i) the results to be obtained from the use of each Fund’s Index, (ii) the figure at which each Fund’s Index is said to stand at any particular time on any particular day or otherwise, or (iii) the suitability of each Fund’s Index for the purpose to which it is being put in connection with each Fund. LSEG has not provided nor will it provide any financial or investment advice or recommendation in relation to each Fund’s Index, to the advisor or to its clients. Each Fund’s Index is calculated by FTSE, Russell, or its agent. LSEG shall not be (a) liable (whether in negligence or otherwise) to any person for any error in each Fund’s Index or (b) under any obligation to advise any person of any error therein.
All rights in each Fund’s Index vest in FTSE. FTSE®”, “Russell®”, “MTS®”, “FTSE TMX®” and “FTSE Russell”, and other service marks and trademarks related to the FTSE or Russell indexes are trademarks of the London Stock Exchange Group companies and are used by FTSE, MTS, FTSE TMX and Russell under license.
Copyright © 2018 DWS Group. All rights reserved. XtrackersTM is a trademark of Deutsche Asset Management International GmbH. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
Not FDIC Insured | No Bank Guarantee | May Lose Value
DBX ETF Trust
Investment advisor DBX Advisors LLC 345 Park Avenue New York, NY 10154 | Administrator, custodian, fund accounting agent, lending agent & transfer agent The Bank of New York Mellon 240 Greenwich Street New York, NY 10286 | Distributor ALPS Distributors, Inc. 1290 Broadway Suite 1100 Denver, CO 80203 | ||
Independent registered public accounting firm Ernst & Young LLP 5 Times Square New York, NY 10036 | Legal counsel Dechert LLP 1095 Avenue of the Americas New York, NY 10036 |
R-047731-3 (10/18) DBX003550 (10/19)
August 31, 2018
Annual Report
DBX ETF Trust
Xtrackers Barclays International Corporate Bond Hedged ETF (IFIX)
Xtrackers Barclays International Treasury Bond Hedged ETF (IGVT)
Xtrackers High Beta High Yield Bond ETF (HYUP)
Xtrackers Low Beta High Yield Bond ETF (HYDW)
Xtrackers Short Duration High Yield Bond ETF (SHYL)
Xtrackers USD High Yield Corporate Bond ETF (HYLB)
DBX ETF Trust
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Schedule of Investments | ||||
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To our Shareholders: (Unaudited)
Dear Shareholder,
We are pleased to provide this annual report for our flagship ETFs tracking the fixed income market for the period ended August 31, 2018.
Global economies accelerated over the reporting period despite concerns around trade negotiations and political risk. In the U.S., macro-economic indicators remained positive on fiscal support, solid capital expenditures and increased consumer spending. Alongside, a case for monetary tightening was supported by rising inflation. Meanwhile, the Eurozone remained resilient following strong domestic demand and favorable labor market conditions. Global equity markets echoed this sentiment and grew in parallel, amid brief bouts of volatility. Japan’s economy maintained its momentum, mainly against the backdrop of highly accommodative financial conditions and significant government spending. Elsewhere, aggregate growth in emerging markets stabilized further, despite rising U.S. Treasury rates, strengthening U.S. dollar and trade fears.
With the economy recovering steadily, the U.S. Federal Reserve Bank (FRB) hiked its rates three times over the reporting period and remained steadfast in its aim to revive accommodative monetary policy and signaled two more hikes this year and four in 2019. The U.S. Treasury yield curve continued its flattening trend, with the US 10-yr benchmark Treasury yield surging to 2.86% at the end of the reporting period. The rise in yields was attributed to strong inflation data, which, in turn, reflected the notable rise in crude prices. The spread between the 2-year and 10-year treasury notes is also around its narrowest in a decade, amid a strengthening U.S. dollar. High-yield corporate bonds proved resilient in the face of rising yields, as spreads hovered around multi-year lows, backed by strong corporate earnings and low default rates.
The Eurozone economy grew on solid income growth and easier financial conditions. The European Central Bank (ECB) outlined plans to conclude its hallmark quantitative easing program by the end of the year, following reduced monthly net asset purchases of Euro 15 billion in the last quarter. The ECB also pledged to keep interest rates at ultra-low levels until September 2019. In the U.K, the Bank of England (BoE) unanimously increased bank rates, considering strong labor market and credit growth. With signs of a recovery and reduced political tension, yield spreads between Germany and other European nations narrowed, signaling increasing investor confidence. Furthermore, high-yield corporate bonds, both in the U.S. and globally, produced lower 10-year standard deviations than their equity counterparts, and by a pretty wide margin.
Macro-economic data across the globe remains encouraging, suggesting solid fundamentals. Overall, central banks continue to normalize monetary policies, albeit at a varying pace. With this gradual transition to less accommodative monetary policies, fixed income markets are likely to experience increased bouts of volatility in a rising interest rate environment. Meanwhile, rising trade tensions, increased debt, and uncertainty about the path in monetary policy adjustments in developed economies are the potential downside risks to the global economy. Despite generous central banks, we see no widespread misallocation of capital in the real economy like in the past cycles. In this scenario, fixed income investments could continue to deliver the necessary diversification benefits and income potential that the asset class has historically helped to provide.
Our team appreciates your trust and looks forward to serving your investment needs through innovative index-driven strategies.
Sincerely,
/s/ Freddi Klassen
Freddi Klassen
President and Chief Executive Officer
Assumptions, estimates and opinions contained in this document constitute our judgment as of the date of the document and are subject to change without notice. Any projections are based on a number of assumptions as to market conditions and there can be no guarantee that any projected results will be achieved. Past performance is not a guarantee of future results.
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DBX ETF Trust
Xtrackers Barclays International Corporate Bond Hedged ETF
The Xtrackers Barclays International Corporate Bond Hedged ETF (IFIX) seeks investment results that correspond generally to the performance, before fees and expenses, of the Barclays Global Aggregate Corporate Ex USD Bond Index (USD Hedged) (the IFIX Index). The IFIX Index is designed to track the performance of investment grade corporate debt publicly issued in developed and emerging markets (excluding all securities denominated in U.S dollars) in the industrial, utility and financial sectors, while mitigating exposure to fluctuations between the value of the U.S. dollar and the currencies of the countries included in the Underlying Index. For the 12-month period ended August 31, 2018, IFIX shares returned 1.65%, compared to the IFIX Index return of 2.24%.
European corporate bonds formed a significant part of the portfolio. From a geographical perspective, Austria, Belgium, Switzerland, and Sweden were the major positive contributors, while Italy, France, U.K., Canada and Germany contributed negatively to performance. The Fund entered into forward foreign currency contracts during the period to hedge against changes in the value of the U.S. dollar against specified non-U.S. currencies. The currency hedging strategy contributed positively to performance.
Xtrackers Barclays International Treasury Bond Hedged ETF
The Xtrackers Barclays International Treasury Bond Hedged ETF (IGVT) seeks investment results that correspond generally to the performance, before fees and expenses, of the Barclays Global Aggregate Treasury Ex USD Issuer Diversified Bond Index (USD Hedged) (the IGVT Index). The IGVT Index is designed to track the performance of investment grade sovereign debt publicly issued in the developed and emerging markets and denominated in the issuer’s own domestic currency (excluding all securities denominated in U.S. dollars), while mitigating exposure to fluctuations between the value of the U.S. dollar and the currencies of the countries included in the underlying Index. For the 12-month period ended August 31, 2018, IGVT shares returned 1.34%, compared to the IGVT Index return of 2.08%.
Japanese and European sovereign bonds formed a significant part of the portfolio. From a geographical perspective, Netherlands and Russia were the major positive contributors, while Korea and Japan contributed negatively to performance. The Fund entered into forward foreign currency contracts during the period to hedge against changes in the value of the U.S. dollar against specified non-US currencies. The currency hedging strategy contributed positively to performance.
Xtrackers High Beta High Yield Bond ETF
The Xtrackers High Beta High Yield Bond ETF (HYUP) seeks investment results that correspond generally to the performance, before fees and expenses, of the Solactive USD High Yield Corporates Total Market High Beta Index (the HYUP Index). The HYUP Index is designed to track the performance of the segment of the U.S. dollar denominated high yield corporate bond market that exhibits higher overall beta to the broader high yield corporate fixed income market. For the period January 11, 2018 (commencement of operations) to August 31, 2018, HYUP shares returned 2.01%, compared to the HYUP Index return of 2.14%.
The financial sector was the primary positive contributor to performance, while energy and industrials contributed negatively to performance.
Xtrackers Low Beta High Yield Bond ETF
The Xtrackers Low Beta High Yield Bond ETF (HYDW) seeks investment results that correspond generally to the performance, before fees and expenses, of the Solactive USD High Yield Corporates Total Market Low Beta Index (the HYDW Index). The HYDW 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. For the period January 11, 2018 (commencement of operations) to August 31, 2018, HYDW shares returned 0.68%, compared to the HYDW Index return of 0.83%.
The industrial sector was the primary positive contributor to performance, while financials and communications contributed negatively to performance.
3
DBX ETF Trust
Management’s Discussion of Fund Performance (Unaudited) (Continued)
Xtrackers Short Duration High Yield Bond ETF
The Xtrackers Short Duration High Yield Bond ETF (SHYL) seeks investment results that correspond generally to the performance, before fees and expenses, of the Solactive USD High Yield Corporates Total Market 0-5 Year Index (the SHYL Index). The SHYL Index is designed to track the performance of short-term publicly issued U.S dollar denominated below investment grade corporate debt. For the period January 10, 2018 (commencement of operations) to August 31, 2018, SHYL shares returned 2.41%, compared to the SHYL Index return of 2.49%.
The industrial and transportation sectors were the major positive contributors to performance, while technology and financials contributed negatively to performance.
Xtrackers USD High Yield Corporate Bond ETF
The Xtrackers USD High Yield Corporate Bond ETF (HYLB) seeks investment results that correspond generally to the performance, before fees and expenses, of the Solactive USD High Yield Corporates Total Market Index (the HYLB Index). The HYLB Index is designed to track the performance of a basket of U.S. dollar denominated high yield liquid corporate bonds. For the 12-month period ended August 31, 2018, HYLB shares returned 2.76%, compared to the HYLB Index return of 2.95%.
The energy sector was the primary positive contributor to performance, while communications contributed negatively to performance.
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Performance data quoted represents past performance and does not guarantee future results. Investment returns and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. To obtain the most recent month-end performance data visit www.Xtrackers.com. Returns assume that dividends and capital gains distributions have been reinvested. See pages 6-17 of this report for additional performance information, including performance data based on market value.
The views expressed in this report reflect those of the portfolio management team only through the end of the period of the report as stated on the cover. The management team’s views are subject to change at any time based on market and other conditions and should not be construed as a recommendation. Current and future portfolio holdings are subject to risk.
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DBX ETF Trust
Performance Summary (Unaudited)
Xtrackers Barclays International Corporate Bond Hedged ETF (IFIX)
Xtrackers Barclays International Corporate Bond Hedged ETF (the “Fund”) seeks investment results that correspond generally to the performance, before fees and expenses, of the Barclays Global Aggregate Corporate Ex USD Bond Index (USD Hedged) (the “Underlying Index”). The Underlying Index is designed to track the performance of investment grade corporate debt publicly issued in developed and emerging markets (excluding all securities denominated in U.S. dollars) in the industrial, utility and financial sectors while mitigating exposure to fluctuations between the value of the U.S. dollar and the currencies of the countries included in the Underlying Index. It is not possible to invest directly into an index.
Performance as of 8/31/18 |
Average Annual Total Returns | ||||||||
Net Asset Value | Market Value | Barclays Global Aggregate Corporate Ex USD Bond Index (USD Hedged) | Bloomberg Barclays Global Aggregate Bond Index | |||||
One Year | 1.65% | 1.57% | 2.24% | -1.36% | ||||
Since Inception1 | 2.36% | 2.42% | 2.80% | 0.41% | ||||
Cumulative Total Returns | ||||||||
Net Asset Value | Market Value | Barclays Global Aggregate Corporate Ex USD Bond Index (USD Hedged) | Bloomberg Barclays Global Aggregate Bond Index | |||||
One Year | 1.65% | 1.57% | 2.24% | -1.36% | ||||
Since Inception1 | 4.41% | 4.53% | 5.26% | 0.76% |
1 Total returns are calculated based on the commencement of operations, 10/25/16 (“Inception”).
Past performance is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available at www.Xtrackers.com. Performance results assume reinvestment of all dividends and capital gain distributions and do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the sale of fund shares or redemption of fund creation units. The investment return and principal value of shares will vary with changes in market conditions. Shares may be worth more or less than their original cost when they are sold in the market or redeemed. The estimated operating expense ratio as disclosed in the most recent prospectus dated December 29, 2017, as supplemented April 4, 2018 and June 7, 2018, was 0.30%, and may differ from the expense ratio disclosed in the Financial Highlights table in this report.
The Fund’s net asset value or “NAV” is calculated by dividing the value of the Fund’s total assets less total liabilities by the number of share outstanding. The price used to calculate market return (“Market Price”) is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which shares of a fund are listed for trading, as of the time that such fund’s NAV is calculated. Since shares of a fund may not have traded in the secondary market until after the fund’s inception, for the period from inception to the first day of secondary trading, the NAV of the fund is used as a proxy for the Market Price to calculate market returns. Market and NAV returns assume that dividends and capital gain distributions have been reinvested at Market Price and NAV, respectively.
An index is a statistical composite that tracks a specified financial market or sector. Unlike a fund, an index does not actually hold a portfolio of securities and therefore does not incur the expenses incurred by a fund. These expenses negatively impact fund performance. Also, market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, market returns would be lower.
6
DBX ETF Trust
Performance Summary (Unaudited)
Xtrackers Barclays International Corporate Bond Hedged ETF (IFIX) (Continued)
Growth of an Assumed $10,000 Investment |
1 Based on Net Asset Value from commencement of operations, 10/25/16.
Sector Diversification* as of 8/31/18 |
Financial | 44.0% | |||
Consumer, Non-cyclical | 12.9% | |||
Communications | 10.2% | |||
Industrial | 8.4% | |||
Utilities | 7.6% | |||
Consumer, Cyclical | 6.5% | |||
Energy | 5.0% | |||
Technology | 2.5% | |||
Basic Materials | 2.5% | |||
Government | 0.4% | |||
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| |||
Total | 100.0% |
Modified duration as of 8/31/18: 5.6 years
Modified duration is an approximate measure of a fund’s sensitivity to movements in interest rates based on the current rate environment.
Quality* as of 8/31/18 |
Description | % of Market Value | |||
AAA | 2.0% | |||
AA | 21.3% | |||
A | 37.3% | |||
BBB | 39.4% | |||
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| |||
Total | 100.0% |
The quality ratings represent the higher of Moody’s Investor Services, Inc. (“Moody’s”), Fitch Ratings, Inc. (“Fitch”) or Standard & Poor’s Corporation (“S&P”) credit ratings. The ratings of Moody’s, Fitch and S&P represent their opinions as to the quality of the securities they rate. Credit quality measures a bond issuer’s ability to repay interest and principal in a timely manner and is measured on a scale that ranges from AAA (highest) to D (lowest). Ratings are relative and subjective and are not absolute standards of quality. Credit quality does not remove market risk and is subject to change.
Country Diversification* as of 8/31/18 |
United Kingdom | 19.1% | |||
United States | 17.1% | |||
Netherlands | 16.9% | |||
France | 13.4% | |||
Canada | 10.7% | |||
Japan | 4.1% | |||
Australia | 4.0% | |||
Italy | 3.9% | |||
Spain | 3.6% | |||
Germany | 3.4% | |||
Other | 3.8% | |||
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| |||
Total | 100.0% |
* As a percent of total investments.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 19.
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DBX ETF Trust
Performance Summary (Unaudited)
Xtrackers Barclays International Treasury Bond Hedged ETF (IGVT)
Xtrackers Barclays International Treasury Bond Hedged ETF (the “Fund”) seeks investment results that correspond generally to the performance, before fees and expenses, of the Barclays Global Aggregate Treasury Ex USD Issuer Diversified Bond Index (USD Hedged) (the “Underlying Index”). The Underlying Index is designed to track the performance of investment grade sovereign debt publicly issued in the developed and emerging markets and denominated in the issuer’s own domestic currency (excluding all securities denominated in U.S. dollars) while at the same time mitigating exposure to fluctuations between the value of the U.S. dollar and the currencies of the countries included in the Underlying Index. It is not possible to invest directly into an index.
Performance as of 8/31/18 |
Average Annual Total Returns | ||||||||
Net Asset Value | Market Value | Barclays Global Aggregate Treasury Ex USD Issuer Diversified Bond Index (USD Hedged) | Bloomberg Barclays Global Aggregate Bond Index | |||||
One Year | 1.34% | 1.32% | 2.08% | -1.36% | ||||
Since Inception1 | 0.57% | 0.68% | 1.08% | 0.41% | ||||
Cumulative Total Returns | ||||||||
Net Asset Value | Market Value | Barclays Global Aggregate Treasury Ex USD Issuer Diversified Bond Index (USD Hedged) | Bloomberg Barclays Global Aggregate Bond Index | |||||
One Year | 1.34% | 1.32% | 2.08% | -1.36% | ||||
Since Inception1 | 1.07% | 1.27% | 2.01% | 0.76% |
1 Total returns are calculated based on the commencement of operations, 10/25/16 (“Inception”).
Past performance is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available at www.Xtrackers.com. Performance results assume reinvestment of all dividends and capital gain distributions and do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the sale of fund shares or redemption of fund creation units. The investment return and principal value of shares will vary with changes in market conditions. Shares may be worth more or less than their original cost when they are sold in the market or redeemed. The estimated operating expense ratio as disclosed in the most recent prospectus dated December 29, 2017, as supplemented April 4, 2018 and June 7, 2018, was 0.25%, and may differ from the expense ratio disclosed in the Financial Highlights table in this report.
The Fund’s net asset value or “NAV” is calculated by dividing the value of the Fund’s total assets less total liabilities by the number of share outstanding. The price used to calculate market return (“Market Price”) is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which shares of a fund are listed for trading, as of the time that such fund’s NAV is calculated. Since shares of a fund may not have traded in the secondary market until after the fund’s inception, for the period from inception to the first day of secondary trading, the NAV of the fund is used as a proxy for the Market Price to calculate market returns. Market and NAV returns assume that dividends and capital gain distributions have been reinvested at Market Price and NAV, respectively.
An index is a statistical composite that tracks a specified financial market or sector. Unlike a fund, an index does not actually hold a portfolio of securities and therefore does not incur the expenses incurred by a fund. These expenses negatively impact fund performance. Also, market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, market returns would be lower.
8
DBX ETF Trust
Performance Summary (Unaudited)
Xtrackers Barclays International Treasury Bond Hedged ETF (IGVT) (Continued)
Growth of an Assumed $10,000 Investment |
1 Based on Net Asset Value from commencement of operations, 10/25/16.
Country Diversification* as of 8/31/18 |
Japan | 24.4% | |||
France | 7.2% | |||
United Kingdom | 6.9% | |||
Italy | 6.1% | |||
Germany | 4.9% | |||
Spain | 4.6% | |||
Belgium | 4.5% | |||
Canada | 4.3% | |||
Australia | 4.3% | |||
Netherlands | 4.0% | |||
South Korea | 3.9% | |||
Austria | 3.0% | |||
Ireland | 2.0% | |||
Other | 19.9% | |||
|
| |||
Total | 100.0% |
Modified duration as of 8/31/18: 8.0 years
Modified duration is an approximate measure of a fund’s sensitivity to movements in interest rates based on the current rate environment.
Quality* as of 8/31/18 |
Description | % of Market Value | |||
AAA | 21.6% | |||
AA | 22.3% | |||
A | 42.4% | |||
BBB | 13.7% | |||
|
| |||
Total | 100.0% |
The quality ratings represent the higher of Moody’s Investor Services, Inc. (“Moody’s”), Fitch Ratings, Inc. (“Fitch”) or Standard & Poor’s Corporation (“S&P”) credit ratings. The ratings of Moody’s, Fitch and S&P represent their opinions as to the quality of the securities they rate. Credit quality measures a bond issuer’s ability to repay interest and principal in a timely manner and is measured on a scale that ranges from AAA (highest) to D (lowest). Ratings are relative and subjective and are not absolute standards of quality. Credit quality does not remove market risk and is subject to change.
* As a percent of total investments.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 23.
9
DBX ETF Trust
Performance Summary (Unaudited)
Xtrackers High Beta High Yield Bond ETF (HYUP)
Xtrackers High Beta High Yield Bond ETF (the “Fund”) seeks investment results that correspond generally to the performance, before fees and expenses, of the Solactive USD High Yield Corporates Total Market High Beta Index (the “Underlying Index”). The Underlying Index is designed to track the performance of the segment of the U.S. dollar-denominated high yield corporate bond market that exhibits higher overall beta to the broader high yield corporate fixed income market. It is not possible to invest directly into an index.
Performance as of 8/31/18 |
Cumulative Total Returns | ||||||||
Net Asset Value | Market Value | Solactive USD High Yield Corporates Total Market High Beta Index | Solactive USD High Yield Corporates Total Market Index | |||||
Since Inception1 | 2.01% | 2.01% | 2.14% | 1.57% |
1 Total returns are calculated based on the commencement of operations, 1/11/18 (“Inception”).
Past performance is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available at www.Xtrackers.com. Performance results assume reinvestment of all dividends and capital gain distributions and do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the sale of fund shares or redemption of fund creation units. The investment return and principal value of shares will vary with changes in market conditions. Shares may be worth more or less than their original cost when they are sold in the market or redeemed. The estimated operating expense ratio as disclosed in the most recent prospectus dated January 10, 2018, as supplemented April 4, 2018 and June 7, 2018, was 0.35%, and may differ from the expense ratio disclosed in the Financial Highlights table in this report.
The Fund’s net asset value or “NAV” is calculated by dividing the value of the Fund’s total assets less total liabilities by the number of share outstanding. The price used to calculate market return (“Market Price”) is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which shares of a fund are listed for trading, as of the time that such fund’s NAV is calculated. Since shares of a fund may not have traded in the secondary market until after the fund’s inception, for the period from inception to the first day of secondary trading, the NAV of the fund is used as a proxy for the Market Price to calculate market returns. Market and NAV returns assume that dividends and capital gain distributions have been reinvested at Market Price and NAV, respectively.
An index is a statistical composite that tracks a specified financial market or sector. Unlike a fund, an index does not actually hold a portfolio of securities and therefore does not incur the expenses incurred by a fund. These expenses negatively impact fund performance. Also, market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, market returns would be lower.
10
DBX ETF Trust
Performance Summary (Unaudited)
Xtrackers High Beta High Yield Bond ETF (HYUP) (Continued)
Growth of an Assumed $10,000 Investment |
1 Based on Net Asset Value from commencement of operations, 1/11/18.
Sector Diversification* as of 8/31/18 |
Communications | 25.3% | |||
Consumer, Non-cyclical | 18.9% | |||
Consumer, Cyclical | 12.2% | |||
Energy | 11.9% | |||
Financial | 11.5% | |||
Industrial | 7.9% | |||
Technology | 5.4% | |||
Basic Materials | 4.3% | |||
Utilities | 2.5% | |||
Diversified | 0.1% | |||
|
| |||
Total | 100.0% |
Modified duration as of 8/31/18: 4.7 years
Modified duration is an approximate measure of a fund’s sensitivity to movements in interest rates based on the current rate environment.
Quality* as of 8/31/18 |
Description | % of Market Value | |||
BBB | 3.6% | |||
BB | 38.9% | |||
B | 45.0% | |||
CCC | 11.8% | |||
CC | 0.6% | |||
C | 0.1% | |||
|
| |||
Total | 100% |
The quality ratings represent the higher of Moody’s Investor Services, Inc. (“Moody’s”), Fitch Ratings, Inc. (“Fitch”) or Standard & Poor’s Corporation (“S&P”) credit ratings. The ratings of Moody’s, Fitch and S&P represent their opinions as to the quality of the securities they rate. Credit quality measures a bond issuer’s ability to repay interest and principal in a timely manner and is measured on a scale that ranges from AAA (highest) to D (lowest). Ratings are relative and subjective and are not absolute standards of quality. Credit quality does not remove market risk and is subject to change.
Country Diversification* as of 8/31/18 |
United States | 80.4% | |||
Luxembourg | 5.3% | |||
Canada | 3.9% | |||
Netherlands | 2.4% | |||
Other | 8.0% | |||
|
| |||
Total | 100.0% |
* As a percent of total investments excluding securities lending collateral.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 28.
11
DBX ETF Trust
Performance Summary (Unaudited)
Xtrackers Low Beta High Yield Bond ETF (HYDW)
Xtrackers Low Beta High Yield Bond ETF (the “Fund”) seeks investment results that correspond generally to the performance, before fees and expenses, of the Solactive USD High Yield Corporates Total Market Low Beta Index (the “Underlying Index”). The Underlying Index is designed to track the performance of the segment of the U.S. dollar-denominated high yield corporate bond market that exhibits lower overall beta to the broader high yield corporate fixed income market. It is not possible to invest directly into an index.
Performance as of 8/31/18 |
Cumulative Total Returns | ||||||||
Net Asset Value | Market Value | Solactive USD High Yield Corporates Total Market Low Beta Index | Solactive USD High Yield Corporates Total Market Index | |||||
Since Inception1 | 0.68% | 0.81% | 0.83% | 1.57% |
1 Total returns are calculated based on the commencement of operations, 1/11/18 (“Inception”).
Past performance is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available at www.Xtrackers.com. Performance results assume reinvestment of all dividends and capital gain distributions and do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the sale of fund shares or redemption of fund creation units. The investment return and principal value of shares will vary with changes in market conditions. Shares may be worth more or less than their original cost when they are sold in the market or redeemed. The estimated operating expense ratio as disclosed in the most recent prospectus dated January 10, 2018, as supplemented April 4, 2018 and June 7, 2018, was 0.25%, and may differ from the expense ratio disclosed in the Financial Highlights table in this report.
The Fund’s net asset value or “NAV” is calculated by dividing the value of the Fund’s total assets less total liabilities by the number of share outstanding. The price used to calculate market return (“Market Price”) is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which shares of a fund are listed for trading, as of the time that such fund’s NAV is calculated. Since shares of a fund may not have traded in the secondary market until after the fund’s inception, for the period from inception to the first day of secondary trading, the NAV of the fund is used as a proxy for the Market Price to calculate market returns. Market and NAV returns assume that dividends and capital gain distributions have been reinvested at Market Price and NAV, respectively.
An index is a statistical composite that tracks a specified financial market or sector. Unlike a fund, an index does not actually hold a portfolio of securities and therefore does not incur the expenses incurred by a fund. These expenses negatively impact fund performance. Also, market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, market returns would be lower.
12
DBX ETF Trust
Performance Summary (Unaudited)
Xtrackers Low Beta High Yield Bond ETF (HYDW) (Continued)
Growth of an Assumed $10,000 Investment |
1 Based on Net Asset Value from commencement of operations, 1/11/18.
Sector Diversification* as of 8/31/18 |
Communications | 20.7% | |||
Consumer, Non-cyclical | 19.0% | |||
Energy | 15.1% | |||
Consumer, Cyclical | 13.3% | |||
Industrial | 8.6% | |||
Technology | 7.6% | |||
Financial | 7.1% | |||
Basic Materials | 5.3% | |||
Utilities | 3.3% | |||
|
| |||
Total | 100.0% |
Modified duration as of 8/31/18: 3.9 years
Modified duration is an approximate measure of a fund’s sensitivity to movements in interest rates based on the current rate environment.
Quality* as of 8/31/18 |
Description | % of Market Value | |||
BBB | 12.7% | |||
BB | 72.0% | |||
B | 14.0% | |||
CCC | 1.3% | |||
|
| |||
Total | 100.0% |
The quality ratings represent the higher of Moody’s Investor Services, Inc. (“Moody’s”), Fitch Ratings, Inc. (“Fitch”) or Standard & Poor’s Corporation (“S&P”) credit ratings. The ratings of Moody’s, Fitch and S&P represent their opinions as to the quality of the securities they rate. Credit quality measures a bond issuer’s ability to repay interest and principal in a timely manner and is measured on a scale that ranges from AAA (highest) to D (lowest). Ratings are relative and subjective and are not absolute standards of quality. Credit quality does not remove market risk and is subject to change.
Country Diversification* as of 8/31/18 |
United States | 90.8% | |||
Canada | 3.0% | |||
Other | 6.2% | |||
|
| |||
Total | 100.0% |
* As a percent of total investments excluding securities lending collateral.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 38.
13
DBX ETF Trust
Performance Summary (Unaudited)
Xtrackers Short Duration High Yield Bond ETF (SHYL)
Xtrackers Short Duration High Yield Bond ETF (the “Fund”) seeks investment results that correspond generally to the performance, before fees and expenses, of the Solactive USD High Yield Corporates Total Market 0-5 Year Index (the “Underlying Index”). The Underlying Index is designed to track the performance of short-term publicly issued U.S. dollar-denominated below investment grade corporate debt. It is not possible to invest directly into an index.
Performance as of 8/31/18 |
Cumulative Total Returns | ||||||||
Net Asset Value | Market Value | Solactive USD High Yield Corporates Total Market 0-5 Year Index | Solactive USD High Yield Corporates Total Market Index | |||||
Since Inception1 | 2.41% | 2.45% | 2.49% | 1.26% |
1 Total returns are calculated based on the commencement of operations, 1/10/18 (“Inception”).
Past performance is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available at www.Xtrackers.com. Performance results assume reinvestment of all dividends and capital gain distributions and do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the sale of fund shares or redemption of fund creation units. The investment return and principal value of shares will vary with changes in market conditions. Shares may be worth more or less than their original cost when they are sold in the market or redeemed. The estimated operating expense ratio as disclosed in the most recent prospectus dated January 10, 2018, as supplemented April 4, 2018 and June 7, 2018, was 0.20%, and may differ from the expense ratio disclosed in the Financial Highlights table in this report.
The Fund’s net asset value or “NAV” is calculated by dividing the value of the Fund’s total assets less total liabilities by the number of share outstanding. The price used to calculate market return (“Market Price”) is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which shares of a fund are listed for trading, as of the time that such fund’s NAV is calculated. Since shares of a fund may not have traded in the secondary market until after the fund’s inception, for the period from inception to the first day of secondary trading, the NAV of the fund is used as a proxy for the Market Price to calculate market returns. Market and NAV returns assume that dividends and capital gain distributions have been reinvested at Market Price and NAV, respectively.
An index is a statistical composite that tracks a specified financial market or sector. Unlike a fund, an index does not actually hold a portfolio of securities and therefore does not incur the expenses incurred by a fund. These expenses negatively impact fund performance. Also, market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, market returns would be lower.
14
DBX ETF Trust
Performance Summary (Unaudited)
Xtrackers Short Duration High Yield Bond ETF (SHYL) (Continued)
Growth of an Assumed $10,000 Investment |
1 Based on Net Asset Value from commencement of operations, 1/10/18.
Sector Diversification* as of 8/31/18 |
Communications | 22.6% | |||
Consumer, Non-cyclical | 22.1% | |||
Energy | 13.4% | |||
Consumer, Cyclical | 10.8% | |||
Financial | 9.3% | |||
Industrial | 8.2% | |||
Basic Materials | 6.0% | |||
Technology | 5.9% | |||
Utilities | 1.7% | |||
|
| |||
Total | 100.0% |
Modified duration as of 8/31/18: 2.9 years
Modified duration is an approximate measure of a fund’s sensitivity to movements in interest rates based on the current rate environment.
Quality* as of 8/31/18 |
Description | % of Market Value | |||
BBB | 10.4% | |||
BB | 48.7% | |||
B | 31.0% | |||
CCC | 9.2% | |||
CC | 0.6% | |||
C | 0.1% | |||
|
| |||
Total | 100% |
The quality ratings represent the higher of Moody’s Investor Services, Inc. (“Moody’s”), Fitch Ratings, Inc. (“Fitch”) or Standard & Poor’s Corporation (“S&P”) credit ratings. The ratings of Moody’s, Fitch and S&P represent their opinions as to the quality of the securities they rate. Credit quality measures a bond issuer’s ability to repay interest and principal in a timely manner and is measured on a scale that ranges from AAA (highest) to D (lowest). Ratings are relative and subjective and are not absolute standards of quality. Credit quality does not remove market risk and is subject to change.
Country Diversification* as of 8/31/18 |
United States | 83.7% | |||
Luxembourg | 4.9% | |||
Canada | 3.0% | |||
Netherlands | 2.2% | |||
United Kingdom | 2.1% | |||
Other | 4.1% | |||
|
| |||
Total | 100.0% |
* As a percent of total investments excluding securities lending collateral.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 47.
15
DBX ETF Trust
Performance Summary (Unaudited)
Xtrackers USD High Yield Corporate Bond ETF (HYLB)
Xtrackers USD High Yield Corporate Bond ETF (the “Fund”) seeks investment results that correspond generally to the performance, before fees and expenses, of the Solactive USD High Yield Corporates Total Market Index (the “Underlying Index”). The Underlying Index is designed to track the performance of a basket of U.S. dollar-denominated high yield liquid corporate bonds. It is not possible to invest directly into an index.
Performance as of 8/31/18 |
Average Annual Total Returns | ||||||||
Net Asset Value | Market Value | Solactive USD High Yield Corporates Total Market Index | iBoxx USD Liquid High Yield Index | |||||
One Year | 2.76% | 2.51% | 2.95% | 3.19% | ||||
Since Inception1 | 5.30% | 5.20% | 5.64% | 5.49% | ||||
Cumulative Total Returns | ||||||||
Net Asset Value | Market Value | Solactive USD High Yield Corporates Total Market Index | iBoxx USD Liquid High Yield Index | |||||
One Year | 2.76% | 2.51% | 2.95% | 3.19% | ||||
Since Inception1 | 9.38% | 9.20% | 9.99% | 9.69% |
1 Total returns are calculated based on the commencement of operations, 12/7/16 (“Inception”).
Past performance is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available at www.Xtrackers.com. Performance results assume reinvestment of all dividends and capital gain distributions and do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the sale of fund shares or redemption of fund creation units. The investment return and principal value of shares will vary with changes in market conditions. Shares may be worth more or less than their original cost when they are sold in the market or redeemed. Performance for certain funds may reflect a waiver of a portion of investment management fees. Without such wavier, performance would have been lower. The estimated operating expense ratio as disclosed in the most recent prospectus dated December 29, 2017, as supplemented April 4, 2018 and June 7, 2018, was 0.20%, and may differ from the expense ratio disclosed in the Financial Highlights table in this report.
The Fund’s net asset value or “NAV” is calculated by dividing the value of the Fund’s total assets less total liabilities by the number of share outstanding. The price used to calculate market return (“Market Price”) is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which shares of a fund are listed for trading, as of the time that such fund’s NAV is calculated. Since shares of a fund may not have traded in the secondary market until after the fund’s inception, for the period from inception to the first day of secondary trading, the NAV of the fund is used as a proxy for the Market Price to calculate market returns. Market and NAV returns assume that dividends and capital gain distributions have been reinvested at Market Price and NAV, respectively.
An index is a statistical composite that tracks a specified financial market or sector. Unlike a fund, an index does not actually hold a portfolio of securities and therefore does not incur the expenses incurred by a fund. These expenses negatively impact fund performance. Also, market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, market returns would be lower.
16
DBX ETF Trust
Performance Summary (Unaudited)
Xtrackers USD High Yield Corporate Bond ETF (HYLB) (Continued)
Growth of an Assumed $10,000 Investment |
1 Based on Net Asset Value from commencement of operations, 12/7/16.
Sector Diversification* as of 8/31/18 |
Communications | 23.2% | |||
Consumer, Non-cyclical | 18.8% | |||
Energy | 13.8% | |||
Consumer, Cyclical | 12.6% | |||
Financial | 9.1% | |||
Industrial | 8.1% | |||
Technology | 6.4% | |||
Basic Materials | 4.9% | |||
Utilities | 3.0% | |||
Diversified | 0.1% | |||
|
| |||
Total | 100.0% |
Modified duration as of 8/31/18: 4.4 years
Modified duration is an approximate measure of a fund’s sensitivity to movements in interest rates based on the current rate environment.
Quality* as of 8/31/18 |
Description | % of Market Value | |||
BBB | 8.2% | |||
BB | 53.8% | |||
B | 30.5% | |||
CCC | 7.2% | |||
CC | 0.3% | |||
C | 0.0% | |||
|
| |||
Total | 100% |
The quality ratings represent the higher of Moody’s Investor Services, Inc. (“Moody’s”), Fitch Ratings, Inc. (“Fitch”) or Standard & Poor’s Corporation (“S&P”) credit ratings. The ratings of Moody’s, Fitch and S&P represent their opinions as to the quality of the securities they rate. Credit quality measures a bond issuer’s ability to repay interest and principal in a timely manner and is measured on a scale that ranges from AAA (highest) to D (lowest). Ratings are relative and subjective and are not absolute standards of quality. Credit quality does not remove market risk and is subject to change.
Country Diversification* as of 8/31/18 |
United States | 84.7% | |||
Canada | 3.5% | |||
Luxembourg | 3.4% | |||
Other | 8.4% | |||
|
| |||
Total | 100.0% |
* As a percent of total investments excluding securities lending collateral.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 54.
17
DBX ETF Trust
As a shareholder of one or more of the Funds, you incur two types of costs: (1) transaction costs, including brokerage commissions paid on purchases and sales of fund shares, and (2) ongoing costs, including management fees and other Fund expenses. In the most recent six-month period Xtrackers USD High Yield Corporate Bond ETF limited these expenses; had they not done so, expenses would have been higher. The expense examples below are intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with the ongoing costs of investing in other funds.
The examples in the tables are based on an investment of $1,000 invested at the beginning of the six-month period and held for the entire period (March 1, 2018 to August 31, 2018).
Actual expenses
The first line in the following tables provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading “Expenses Paid During the Period” to estimate the expenses you paid on your account during this period.
Hypothetical example for comparison purposes
The second line in the following tables provides information about hypothetical account values and hypothetical expenses based on the Funds’ actual expense ratios and an assumed rate of return of 5% per year before expenses (which is not the Funds’ actual return). The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Please note that the expenses shown in the tables are meant to highlight your ongoing costs only, and do not reflect any transactional costs. Therefore the second line in the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
Beginning Account Value March 1, 2018 | Ending Account Value | Annualized Expense Ratio | Expenses Paid During the Period Per $1,000(1) | |||||||||||||
Xtrackers Barclays International Corporate Bond Hedged ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,012.40 | 0.30 | % | $ | 1.52 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,023.69 | 0.30 | % | $ | 1.53 | ||||||||
Xtrackers Barclays International Treasury Bond Hedged ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,013.50 | 0.25 | % | $ | 1.27 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,023.95 | 0.25 | % | $ | 1.28 | ||||||||
Xtrackers High Beta High Yield Bond ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,029.80 | 0.35 | % | $ | 1.79 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,023.44 | 0.35 | % | $ | 1.79 | ||||||||
Xtrackers Low Beta High Yield Bond ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,017.50 | 0.25 | % | $ | 1.27 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,023.95 | 0.25 | % | $ | 1.28 | ||||||||
Xtrackers Short Duration High Yield Bond ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,026.50 | 0.20 | % | $ | 1.02 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,024.20 | 0.20 | % | $ | 1.02 | ||||||||
Xtrackers USD High Yield Corporate Bond ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,024.80 | 0.20 | % | $ | 1.02 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,024.20 | 0.20 | % | $ | 1.02 |
(1) Expenses are equal to each Fund’s annualized expense ratio, multiplied by the average account value over the period, multiplied by 184 (the number of days in the most recent six-month period), then divided by 365.
18
DBX ETF Trust
Schedule of Investments
Xtrackers Barclays International Corporate Bond Hedged ETF
August 31, 2018
Principal | Value | |||||||||||
CORPORATE BONDS — 97.6% | ||||||||||||
Australia — 3.9% | ||||||||||||
BHP Billiton Finance Ltd., REGS Series MTN, | AUD | 50,000 | $ | 36,245 | ||||||||
QPH Finance Co. Pty Ltd. Series MTN, | AUD | 50,000 | 37,874 | |||||||||
Wesfarmers Ltd., REGS Series EMTN, | EUR | 100,000 | 120,335 | |||||||||
|
| |||||||||||
194,454 | ||||||||||||
|
| |||||||||||
Austria — 0.3% | ||||||||||||
Vienna Insurance Group AG Wiener Versicherung Gruppe, REGS 3.75%, 3/02/46 | EUR | 10,000 | 12,369 | |||||||||
|
| |||||||||||
Belgium — 1.7% | ||||||||||||
Anheuser-Busch InBev SA/NV, REGS Series EMTN, 0.625%, 3/17/20 | EUR | 35,000 | 41,080 | |||||||||
Series EMTN, 1.75%, 3/07/25 | GBP | 25,000 | 31,695 | |||||||||
Series EMTN, 2.75%, 3/17/36 | EUR | 10,000 | 12,168 | |||||||||
|
| |||||||||||
84,943 | ||||||||||||
|
| |||||||||||
Canada — 10.5% | ||||||||||||
407 International, Inc. Series MTN, | CAD | 60,000 | 45,121 | |||||||||
Bank of Montreal Series DPNT, | CAD | 50,000 | 38,351 | |||||||||
Bank of Nova Scotia Series DPNT, | CAD | 50,000 | 38,081 | |||||||||
Bell Canada, Inc., REGS Series MTN, | CAD | 15,000 | 11,424 | |||||||||
Brookfield Asset Management, Inc. Series MTN, | CAD | 25,000 | 18,984 | |||||||||
CU, Inc. | CAD | 20,000 | 17,534 | |||||||||
Hydro One, Inc. Series MTN, | CAD | 20,000 | 15,466 | |||||||||
Inter Pipeline Ltd. Series MTN, | CAD | 100,000 | 74,812 | |||||||||
Metro, Inc. Series MTN, | CAD | 110,000 | 84,835 | |||||||||
Royal Bank of Canada Series DPNT, | CAD | 35,000 | 26,249 | |||||||||
Royal Office Finance LP Series A, | CAD | 36,410 | 32,734 | |||||||||
Shaw Communications, Inc. | CAD | 30,000 | 23,126 | |||||||||
Suncor Energy, Inc. Series MTN, | CAD | 25,000 | 19,335 | |||||||||
Toronto-Dominion Bank Series DPNT, | CAD | 100,000 | 77,530 | |||||||||
|
| |||||||||||
523,582 | ||||||||||||
|
| |||||||||||
France — 13.1% | ||||||||||||
BNP Paribas SA Series EMTN, | EUR | 40,000 | 51,779 |
Principal | Value | |||||||||||
France (Continued) | ||||||||||||
Bouygues SA, REGS | EUR | 50,000 | $ | 60,465 | ||||||||
BPCE SA, REGS Series EMTN, | EUR | 100,000 | 117,576 | |||||||||
Klepierre SA, REGS Series EMTN, | EUR | 50,000 | 62,419 | |||||||||
LVMH Moet Hennessy Louis Vuitton SE, REGS Series EMTN, | EUR | 30,000 | 35,351 | |||||||||
Orange SA, REGS Series EMTN, | EUR | 100,000 | 131,238 | |||||||||
Suez, REGS Series EMTN, | EUR | 50,000 | 74,047 | |||||||||
Total Capital International SA, REGS Series EMTN, | EUR | 100,000 | 125,732 | |||||||||
|
| |||||||||||
658,607 | ||||||||||||
|
| |||||||||||
Germany — 3.3% | ||||||||||||
BASF SE, REGS Series EMTN, | EUR | 50,000 | 60,869 | |||||||||
Series DIP, 1.625%, 11/15/37 | EUR | 10,000 | 11,162 | |||||||||
Daimler AG, REGS Series EMTN, | EUR | 30,000 | 34,153 | |||||||||
Deutsche Boerse AG, REGS | EUR | 10,000 | 11,762 | |||||||||
Deutsche Post AG, REGS | EUR | 15,000 | 19,775 | |||||||||
Series EMTN, 1.00%, 12/13/27 | EUR | 15,000 | 17,092 | |||||||||
E.ON SE, REGS Series EMTN, 1.625%, 5/22/29 | EUR | 10,000 | 11,739 | |||||||||
|
| |||||||||||
166,552 | ||||||||||||
|
| |||||||||||
Italy — 3.8% | ||||||||||||
Assicurazioni Generali SpA, REGS Series EMTN, | EUR | 50,000 | 69,604 | |||||||||
UniCredit SpA, REGS Series EMTN, | EUR | 100,000 | 121,626 | |||||||||
|
| |||||||||||
191,230 | ||||||||||||
|
| |||||||||||
Japan — 3.6% | ||||||||||||
Aozora Bank Ltd. Series 615, | JPY | 10,000,000 | 90,239 | |||||||||
Shinkin Central Bank Series 323, | JPY | 10,000,000 | 89,835 | |||||||||
|
| |||||||||||
180,074 | ||||||||||||
|
| |||||||||||
Luxembourg — 1.9% | ||||||||||||
Hannover Finance Luxembourg SA | EUR | 50,000 | 63,912 | |||||||||
HeidelbergCement Finance Luxembourg SA, REGS | EUR | 25,000 | 31,886 | |||||||||
|
| |||||||||||
95,798 | ||||||||||||
|
|
See Notes to Financial Statements. | 19 |
DBX ETF Trust
Schedule of Investments
Xtrackers Barclays International Corporate Bond Hedged ETF (Continued)
August 31, 2018
Principal | Value | |||||||||||
Netherlands — 16.5% | ||||||||||||
ABN AMRO Bank NV, REGS Series EMTN, | EUR | 30,000 | $ | 35,372 | ||||||||
Allianz Finance II BV, REGS Series 61, | EUR | 100,000 | 137,888 | |||||||||
BMW Finance NV, REGS Series EMTN, | EUR | 40,000 | 46,505 | |||||||||
Cooperatieve Rabobank UA, REGS Series EMTN, 4.75%, 6/06/22 | EUR | 65,000 | 88,214 | |||||||||
Series GMTN, 1.375%, 2/03/27 | EUR | 15,000 | 18,129 | |||||||||
Deutsche Telekom International Finance BV, REGS Series EMTN, 1.375%, 1/30/27 | EUR | 50,000 | 58,500 | |||||||||
Evonik Finance BV, REGS | EUR | 20,000 | 21,653 | |||||||||
Gas Natural Fenosa Finance BV, REGS | EUR | 100,000 | 129,439 | |||||||||
innogy Finance BV, REGS | EUR | 10,000 | 16,860 | |||||||||
Shell International Finance BV, REGS Series EMTN, | CHF | 25,000 | 26,628 | |||||||||
Siemens Financieringsmaatschappij NV, REGS Series EMTN, | EUR | 50,000 | 67,752 | |||||||||
Telefonica Europe BV, REGS Series EMTN, | EUR | 10,000 | 16,443 | |||||||||
Volkswagen Financial Services NV, REGS Series EMTN, | GBP | 40,000 | 51,458 | |||||||||
Volkswagen International Finance NV, REGS | EUR | 50,000 | 60,433 | |||||||||
Vonovia Finance BV, REGS Series DIP, | EUR | 45,000 | 52,809 | |||||||||
|
| |||||||||||
828,083 | ||||||||||||
|
| |||||||||||
Spain — 3.6% | ||||||||||||
Banco Santander SA, REGS Series EMTN, | EUR | 100,000 | 116,526 | |||||||||
Telefonica Emisiones SAU, REGS Series EMTN, | EUR | 50,000 | 61,293 | |||||||||
|
| |||||||||||
177,819 | ||||||||||||
|
| |||||||||||
United Kingdom — 18.7% | ||||||||||||
Aviva PLC | GBP | 15,000 | 20,439 | |||||||||
Barclays Bank PLC, REGS Series EMTN, | EUR | 50,000 | 68,124 | |||||||||
BAT International Finance PLC, REGS Series EMTN, | EUR | 50,000 | 62,277 |
Principal | Value | |||||||||||
United Kingdom (Continued) | ||||||||||||
Credit Agricole SA, REGS Series EMTN, | EUR | 100,000 | $ | 134,038 | ||||||||
Eastern Power Networks PLC, REGS Series EMTN, | GBP | 60,000 | 112,695 | |||||||||
Heathrow Funding Ltd., REGS | GBP | 50,000 | 74,278 | |||||||||
HSBC Bank PLC, REGS Series EMTN, | EUR | 50,000 | 63,484 | |||||||||
Series EMTN, 4.75%, 3/24/46 | GBP | 50,000 | 77,522 | |||||||||
Lloyds Bank PLC, REGS | EUR | 100,000 | 119,134 | |||||||||
Series EMTN, 7.625%, 4/22/25 | GBP | 10,000 | 16,514 | |||||||||
Segro PLC | GBP | 15,000 | 26,499 | |||||||||
THFC Funding No 1 PLC | GBP | 25,000 | 41,253 | |||||||||
Vodafone Group PLC, REGS | GBP | 30,000 | 51,815 | |||||||||
Wellcome Trust Finance PLC | GBP | 50,000 | 71,027 | |||||||||
|
| |||||||||||
939,099 | ||||||||||||
|
| |||||||||||
United States — 16.7% | ||||||||||||
Apple, Inc. Series EMTN, | EUR | 100,000 | 120,528 | |||||||||
AT&T, Inc. | EUR | 100,000 | 126,831 | |||||||||
Bristol-Myers Squibb Co. | EUR | 100,000 | 118,082 | |||||||||
FedEx Corp. | EUR | 50,000 | 59,096 | |||||||||
General Electric Co. Series EMTN, | GBP | 25,000 | 39,586 | |||||||||
Goldman Sachs Group, Inc., REGS Series EMTN, | EUR | 30,000 | 34,599 | |||||||||
Kraft Heinz Foods Co., REGS | EUR | 100,000 | 117,359 | |||||||||
Prologis LP | EUR | 100,000 | 119,075 | |||||||||
Verizon Communications, Inc., REGS Series MTN, | AUD | 20,000 | 14,501 | |||||||||
Walmart, Inc. | GBP | 50,000 | 89,360 | |||||||||
|
| |||||||||||
839,017 | ||||||||||||
|
| |||||||||||
TOTAL CORPORATE BONDS | 4,891,627 | |||||||||||
|
|
See Notes to Financial Statements. | 20 |
DBX ETF Trust
Schedule of Investments
Xtrackers Barclays International Corporate Bond Hedged ETF (Continued)
August 31, 2018
Principal | Value | |||||||||||
SOVEREIGN BOND — 0.4% | ||||||||||||
Japan — 0.4% | ||||||||||||
Japan Government Ten Year Bond | JPY | 2,000,000 | $ | 18,094 | ||||||||
|
| |||||||||||
TOTAL SOVEREIGN BOND | 18,094 | |||||||||||
|
| |||||||||||
TOTAL INVESTMENTS — 98.0% (Cost $4,819,615) | $ | 4,909,721 | ||||||||||
Other assets and liabilities, net — 2.0% | 101,248 | |||||||||||
|
| |||||||||||
NET ASSETS — 100.0% | $ | 5,010,969 | ||||||||||
|
|
DIP: | Debtor In Possession |
DPNT: | Deposit Note |
EMTN: | Euro Medium Term Note |
GMTN: | Global Medium Term Note |
MTN: | Medium Term Note |
REGS: | Securities sold under Regulation S may not be offered, sold or delivered within the United States or to, or for the account or benefit of, U.S. persons, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933. |
As of August 31, 2018, the Fund had the following forward foreign currency contracts outstanding:
Counterparty | Settlement Date | Currency To Deliver | Currency To Receive | Unrealized Appreciation | Unrealized Depreciation | |||||||||||||||||||||||
The Bank of Nova Scotia | 9/5/2018 | CAD | 522,470 | USD | 401,511 | $ | 1,112 | $ | — | |||||||||||||||||||
The Bank of Nova Scotia | 9/5/2018 | CAD | 144,000 | USD | 110,662 | 307 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 9/5/2018 | USD | 511,124 | CAD | 666,470 | — | (370 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | AUD | 124,689 | USD | 92,702 | 3,063 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | CAD | 21,000 | USD | 16,103 | 10 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | CHF | 77,600 | USD | 78,599 | — | (1,504 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | EUR | 7,700 | USD | 9,031 | 89 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | EUR | 2,963,530 | USD | 3,475,835 | 34,373 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | GBP | 567,101 | USD | 744,881 | 9,487 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | GBP | 43,500 | USD | 55,957 | — | (452 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | JPY | 22,020,000 | USD | 197,133 | — | (1,132 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | USD | 90,175 | AUD | 124,689 | — | (536 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | USD | 16,105 | CAD | 21,000 | — | (12 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | USD | 52,554 | CHF | 52,000 | 1,123 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | USD | 26,471 | CHF | 25,600 | — | (45 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | USD | 3,396,524 | EUR | 2,919,230 | — | (6,507 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | USD | 60,057 | EUR | 52,000 | 329 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | USD | 77,496 | GBP | 59,000 | — | (987 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | USD | 716,943 | GBP | 551,601 | — | (1,648 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | USD | 198,584 | JPY | 22,020,000 | — | (319 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 10/3/2018 | AUD | 124,689 | USD | 90,168 | 530 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 10/3/2018 | CAD | 21,000 | USD | 16,114 | 11 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 10/3/2018 | CAD | 666,470 | USD | 511,395 | 364 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 10/3/2018 | CHF | 25,600 | USD | 26,531 | 44 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 10/3/2018 | EUR | 2,919,230 | USD | 3,403,238 | 6,322 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 10/3/2018 | EUR | 15,000 | USD | 17,490 | 36 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 10/3/2018 | GBP | 2,900 | USD | 3,774 | 9 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 10/3/2018 | GBP | 551,601 | USD | 717,716 | 1,623 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 10/3/2018 | JPY | 22,020,000 | USD | 198,954 | 309 | — | |||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||
Total unrealized appreciation (depreciation) | $ | 59,141 | $ | (13,512 | ) | |||||||||||||||||||||||
|
|
|
|
See Notes to Financial Statements. | 21 |
DBX ETF Trust
Schedule of Investments
Xtrackers Barclays International Corporate Bond Hedged ETF (Continued)
August 31, 2018
Currency Abbreviations
AUD | Australian Dollar |
CAD | Canadian Dollar |
CHF | Swiss Franc |
EUR | Euro |
GBP | Pound Sterling |
JPY | Japanese Yen |
USD | U.S. Dollar |
For information on the Fund’s policy and additional disclosures regarding forward foreign currency contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
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, 2018 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) | $ | — | $ | 4,891,627 | $ | — | $ | 4,891,627 | ||||||||
Sovereign Bond | — | 18,094 | — | 18,094 | ||||||||||||
Derivatives (b) | ||||||||||||||||
Forward Foreign Currency Contracts | — | 59,141 | — | 59,141 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | — | $ | 4,968,862 | $ | — | $ | 4,968,862 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liabilities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Derivatives (b) | ||||||||||||||||
Forward Foreign Currency Contracts | $ | — | $ | (13,512 | ) | $ | — | $ | (13,512 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | — | $ | (13,512 | ) | $ | — | $ | (13,512 | ) | ||||||
|
|
|
|
|
|
|
|
(a) | See Schedule of Investments for additional detailed categorizations. |
(b) | Derivatives include unrealized appreciation (depreciation) on forward foreign currency contracts. |
There have been no transfers between fair value measurement levels during the year ended August 31, 2018.
See Notes to Financial Statements. | 22 |
DBX ETF Trust
Schedule of Investments
Xtrackers Barclays International Treasury Bond Hedged ETF
August 31, 2018
Principal | Value | |||||||||||
SOVEREIGN BONDS — 97.7% | ||||||||||||
Australia — 4.2% | ||||||||||||
Australia Government Bond | AUD | 25,000 | $ | 18,696 | ||||||||
5.75%, 7/15/22, REGS | AUD | 10,000 | 8,173 | |||||||||
5.50%, 4/21/23, REGS | AUD | 50,000 | 41,254 | |||||||||
3.25%, 4/21/25, REGS | AUD | 50,000 | 37,943 | |||||||||
4.25%, 4/21/26, REGS | AUD | 20,000 | 16,210 | |||||||||
4.75%, 4/21/27, REGS | AUD | 25,000 | 21,144 | |||||||||
2.75%, 11/21/27, REGS | AUD | 25,000 | 18,323 | |||||||||
2.25%, 5/21/28, REGS | AUD | 20,000 | 14,044 | |||||||||
4.50%, 4/21/33, REGS | AUD | 25,000 | 21,890 | |||||||||
3.25%, 6/21/39, REGS | AUD | 10,000 | 7,558 | |||||||||
|
| |||||||||||
205,235 | ||||||||||||
|
| |||||||||||
Austria — 2.9% | ||||||||||||
Republic of Austria Government Bond | EUR | 25,000 | 31,430 | |||||||||
1.65%, 10/21/24, 144A, REGS | EUR | 5,000 | 6,373 | |||||||||
0.75%, 10/20/26, 144A, REGS | EUR | 10,000 | 11,963 | |||||||||
0.50%, 4/20/27, 144A, REGS | EUR | 5,000 | 5,825 | |||||||||
6.25%, 7/15/27 | EUR | 5,000 | 8,754 | |||||||||
2.40%, 5/23/34, 144A, REGS | EUR | 50,000 | 70,094 | |||||||||
3.15%, 6/20/44, 144A, REGS | EUR | 5,000 | 8,253 | |||||||||
|
| |||||||||||
142,692 | ||||||||||||
|
| |||||||||||
Belgium — 4.4% | ||||||||||||
Kingdom of Belgium Government Bond | EUR | 15,000 | 18,075 | |||||||||
4.25%, 9/28/21, 144A, REGS | EUR | 20,000 | 26,555 | |||||||||
4.00%, 3/28/22 | EUR | 5,000 | 6,707 | |||||||||
0.80%, 6/22/25, 144A, REGS | EUR | 25,000 | 30,071 | |||||||||
1.00%, 6/22/26, 144A, REGS | EUR | 25,000 | 30,326 | |||||||||
5.50%, 3/28/28 | EUR | 10,000 | 16,915 | |||||||||
1.00%, 6/22/31, 144A, REGS | EUR | 25,000 | 29,133 | |||||||||
5.00%, 3/28/35, 144A, REGS | EUR | 5,000 | 9,122 | |||||||||
4.25%, 3/28/41, 144A, REGS | EUR | 23,000 | 40,972 | |||||||||
2.15%, 6/22/66, 144A, REGS | EUR | 5,000 | 6,210 | |||||||||
|
| |||||||||||
214,086 | ||||||||||||
|
| |||||||||||
Canada — 4.2% | ||||||||||||
Canadian Government Bond | CAD | 75,000 | 58,898 | |||||||||
0.75%, 3/01/21 | CAD | 30,000 | 22,247 | |||||||||
1.50%, 6/01/23 | CAD | 50,000 | 37,192 | |||||||||
8.00%, 6/01/27 | CAD | 25,000 | 27,906 | |||||||||
5.75%, 6/01/29 | CAD | 10,000 | 10,215 | |||||||||
5.75%, 6/01/33 | CAD | 23,000 | 25,316 | |||||||||
3.50%, 12/01/45 | CAD | 27,000 | 25,862 | |||||||||
|
| |||||||||||
207,636 | ||||||||||||
|
| |||||||||||
Czech Republic — 0.5% | ||||||||||||
Czech Republic Government Bond | CZK | 600,000 | 24,954 | |||||||||
|
| |||||||||||
Denmark — 1.4% | ||||||||||||
Denmark Government Bond | DKK | 200,000 | 34,961 |
Principal | Value | |||||||||||
Denmark (Continued) | ||||||||||||
0.50%, 11/15/27 | DKK | 200,000 | $ | 31,722 | ||||||||
|
| |||||||||||
66,683 | ||||||||||||
|
| |||||||||||
Finland — 1.3% | ||||||||||||
Finland Government Bond | EUR | 25,000 | 31,264 | |||||||||
4.00%, 7/04/25, 144A, REGS | EUR | 5,000 | 7,323 | |||||||||
0.75%, 4/15/31, 144A, REGS | EUR | 20,000 | 23,198 | |||||||||
|
| |||||||||||
61,785 | ||||||||||||
|
| |||||||||||
France — 7.1% | ||||||||||||
French Republic Government Bond OAT | EUR | 50,000 | 64,528 | |||||||||
4.25%, 10/25/23, REGS | EUR | 10,000 | 14,211 | |||||||||
2.25%, 5/25/24, REGS | EUR | 100,000 | 130,919 | |||||||||
3.50%, 4/25/26, REGS | EUR | 6,000 | 8,670 | |||||||||
1.00%, 5/25/27, REGS | EUR | 10,000 | 12,123 | |||||||||
2.75%, 10/25/27, REGS | EUR | 10,000 | 13,940 | |||||||||
2.50%, 5/25/30, REGS | EUR | 25,000 | 34,541 | |||||||||
4.75%, 4/25/35, REGS | EUR | 8,000 | 14,513 | |||||||||
4.50%, 4/25/41, REGS | EUR | 2,000 | 3,755 | |||||||||
3.25%, 5/25/45, REGS | EUR | 30,000 | 48,423 | |||||||||
|
| |||||||||||
345,623 | ||||||||||||
|
| |||||||||||
Germany — 4.8% | ||||||||||||
Bundesrepublik Deutschland Bundesanleihe | EUR | 20,000 | 24,774 | |||||||||
2.00%, 1/04/22, REGS | EUR | 25,000 | 31,447 | |||||||||
1.75%, 2/15/24, REGS | EUR | 75,000 | 96,424 | |||||||||
0.25%, 2/15/27, REGS | EUR | 20,000 | 23,407 | |||||||||
0.50%, 2/15/28, REGS | EUR | 11,000 | 13,042 | |||||||||
4.75%, 7/04/28, REGS | EUR | 2,000 | 3,330 | |||||||||
6.25%, 1/04/30, REGS | EUR | 2,000 | 3,842 | |||||||||
3.25%, 7/04/42, REGS | EUR | 20,000 | 35,161 | |||||||||
2.50%, 8/15/46, REGS | EUR | 2,000 | 3,198 | |||||||||
|
| |||||||||||
234,625 | ||||||||||||
|
| |||||||||||
Hungary — 0.4% | ||||||||||||
Hungary Government Bond | HUF | 5,000,000 | 18,135 | |||||||||
|
| |||||||||||
Indonesia — 1.1% | ||||||||||||
Indonesia Treasury Bond | IDR | 500,000,000 | 34,266 | |||||||||
6.375%, 4/15/42 | IDR | 400,000,000 | 21,317 | |||||||||
|
| |||||||||||
55,583 | ||||||||||||
|
| |||||||||||
Ireland — 1.9% | ||||||||||||
Ireland Government Bond | EUR | 50,000 | 76,885 | |||||||||
1.00%, 5/15/26, REGS | EUR | 10,000 | 11,993 | |||||||||
2.40%, 5/15/30, REGS | EUR | 5,000 | 6,659 | |||||||||
|
| |||||||||||
95,537 | ||||||||||||
|
| |||||||||||
Israel — 0.9% | ||||||||||||
Israel Government Bond — Fixed | ILS | 110,000 | 42,220 | |||||||||
|
|
See Notes to Financial Statements. | 23 |
DBX ETF Trust
Schedule of Investments
Xtrackers Barclays International Treasury Bond Hedged ETF (Continued)
August 31, 2018
Principal | Value | |||||||||||
Italy — 6.0% | ||||||||||||
Italy Buoni Poliennali Del Tesoro | EUR | 15,000 | $ | 18,200 | ||||||||
0.20%, 10/15/20 | EUR | 30,000 | 33,825 | |||||||||
3.75%, 8/01/21, REGS | EUR | 35,000 | 42,433 | |||||||||
0.95%, 3/15/23 | EUR | 30,000 | 32,473 | |||||||||
1.45%, 11/15/24 | EUR | 10,000 | 10,627 | |||||||||
7.25%, 11/01/26 | EUR | 50,000 | 74,955 | |||||||||
6.50%, 11/01/27 | EUR | 5,000 | 7,261 | |||||||||
5.25%, 11/01/29 | EUR | 10,000 | 13,564 | |||||||||
5.00%, 8/01/34, REGS | EUR | 20,000 | 27,203 | |||||||||
4.75%, 9/01/44, 144A, REGS | EUR | 25,000 | 33,274 | |||||||||
|
| |||||||||||
293,815 | ||||||||||||
|
| |||||||||||
Japan — 23.8% | ||||||||||||
Japan Government Five Year Bond | JPY | 4,000,000 | 36,211 | |||||||||
0.10%, 6/20/22 | JPY | 3,000,000 | 27,198 | |||||||||
0.10%, 3/20/23 | JPY | 2,000,000 | 18,147 | |||||||||
Japan Government Forty Year Bond | JPY | 5,000,000 | 51,576 | |||||||||
Japan Government Ten Year Bond | JPY | 20,000,000 | 185,412 | |||||||||
1.00%, 12/20/21 | JPY | 1,000,000 | 9,325 | |||||||||
0.90%, 6/20/22 | JPY | 5,000,000 | 46,682 | |||||||||
0.80%, 9/20/22 | JPY | 6,000,000 | 55,930 | |||||||||
0.60%, 3/20/23 | JPY | 2,000,000 | 18,555 | |||||||||
0.80%, 6/20/23 | JPY | 1,000,000 | 9,379 | |||||||||
0.60%, 12/20/23 | JPY | 2,000,000 | 18,632 | |||||||||
0.40%, 3/20/25 | JPY | 3,000,000 | 27,763 | |||||||||
0.10%, 12/20/26 | JPY | 2,000,000 | 18,094 | |||||||||
0.10%, 12/20/27 | JPY | 4,000,000 | 36,070 | |||||||||
0.10%, 3/20/28 | JPY | 1,000,000 | 9,008 | |||||||||
Japan Government Thirty Year Bond | JPY | 1,000,000 | 11,591 | |||||||||
1.40%, 12/20/32 | JPY | 1,000,000 | 10,337 | |||||||||
2.50%, 3/20/38 | JPY | 9,000,000 | 109,306 | |||||||||
2.00%, 9/20/41 | JPY | 4,000,000 | 45,859 | |||||||||
1.90%, 9/20/42 | JPY | 1,000,000 | 11,313 | |||||||||
1.80%, 3/20/43 | JPY | 1,000,000 | 11,138 | |||||||||
1.60%, 6/20/45 | JPY | 1,000,000 | 10,772 | |||||||||
1.40%, 9/20/45 | JPY | 1,200,000 | 12,410 | |||||||||
Japan Government Twenty Year Bond | JPY | 22,000,000 | 227,482 | |||||||||
1.70%, 9/20/32 | JPY | 9,000,000 | 96,254 | |||||||||
1.70%, 6/20/33 | JPY | 5,000,000 | 53,686 | |||||||||
|
| |||||||||||
1,168,130 | ||||||||||||
|
| |||||||||||
Lithuania — 0.1% | ||||||||||||
Lithuania Government International Bond | EUR | 5,000 | 5,922 | |||||||||
|
| |||||||||||
Luxembourg — 0.1% | ||||||||||||
Luxembourg Government Bond | EUR | 5,000 | 6,439 | |||||||||
|
| |||||||||||
Malaysia — 1.3% | ||||||||||||
Malaysia Government Bond | MYR | 250,000 | 65,694 | |||||||||
|
|
Principal | Value | |||||||||||
Mexico — 1.9% | ||||||||||||
Mexican Bonos | MXN | 1,000,000 | $ | 50,048 | ||||||||
7.50%, 6/03/27 | MXN | 500,000 | 25,494 | |||||||||
7.75%, 11/23/34 | MXN | 300,000 | 15,365 | |||||||||
|
| |||||||||||
90,907 | ||||||||||||
|
| |||||||||||
Netherlands — 3.9% | ||||||||||||
Netherlands Government Bond | EUR | 20,000 | 23,508 | |||||||||
7.50%, 1/15/23, 144A, REGS | EUR | 50,000 | 77,985 | |||||||||
1.75%, 7/15/23, 144A, REGS | EUR | 10,000 | 12,722 | |||||||||
2.50%, 1/15/33, 144A, REGS | EUR | 25,000 | 36,123 | |||||||||
2.75%, 1/15/47, 144A, REGS | EUR | 25,000 | 41,503 | |||||||||
|
| |||||||||||
191,841 | ||||||||||||
|
| |||||||||||
New Zealand — 0.4% | ||||||||||||
New Zealand Government Bond | NZD | 30,000 | 20,547 | |||||||||
|
| |||||||||||
Norway — 0.8% | ||||||||||||
Norway Government Bond | NOK | 300,000 | 38,260 | |||||||||
|
| |||||||||||
Poland — 1.3% | ||||||||||||
Republic of Poland Government Bond | PLN | 75,000 | 21,786 | |||||||||
3.25%, 7/25/25 | PLN | 150,000 | 41,254 | |||||||||
|
| |||||||||||
63,040 | ||||||||||||
|
| |||||||||||
Portugal — 1.7% | ||||||||||||
Portugal Obrigacoes do Tesouro OT | EUR | 10,000 | 12,626 | |||||||||
2.20%, 10/17/22, 144A, REGS | EUR | 25,000 | 31,206 | |||||||||
2.875%, 10/15/25, 144A, REGS | EUR | 15,000 | 19,160 | |||||||||
3.875%, 2/15/30, 144A, REGS | EUR | 5,000 | 6,790 | |||||||||
4.10%, 2/15/45, 144A, REGS | EUR | 10,000 | 13,899 | |||||||||
|
| |||||||||||
83,681 | ||||||||||||
|
| |||||||||||
Russia — 0.7% | ||||||||||||
Russian Federal Bond — OFZ | RUB | 2,500,000 | 36,863 | |||||||||
|
| |||||||||||
Singapore — 0.8% | ||||||||||||
Singapore Government Bond | SGD | 50,000 | 37,959 | |||||||||
|
| |||||||||||
Slovak Republic — 0.7% | ||||||||||||
Slovakia Government Bond | EUR | 20,000 | 26,331 | |||||||||
1.875%, 3/09/37, REGS | EUR | 5,000 | 6,280 | |||||||||
|
| |||||||||||
32,611 | ||||||||||||
|
| |||||||||||
Slovenia — 0.4% | ||||||||||||
Slovenia Government Bond | EUR | 15,000 | 18,045 | |||||||||
|
| |||||||||||
South Korea — 3.9% | ||||||||||||
Korea International Bond | USD | 200,000 | 188,815 | |||||||||
|
|
See Notes to Financial Statements. | 24 |
DBX ETF Trust
Schedule of Investments
Xtrackers Barclays International Treasury Bond Hedged ETF (Continued)
August 31, 2018
Principal | Value | |||||||||||
Spain — 4.5% | ||||||||||||
Spain Government Bond | EUR | 10,000 | $ | 12,244 | ||||||||
4.00%, 4/30/20, 144A, REGS | EUR | 25,000 | 31,096 | |||||||||
0.75%, 7/30/21 | EUR | 25,000 | 29,714 | |||||||||
5.90%, 7/30/26, 144A, REGS | EUR | 45,000 | 71,087 | |||||||||
6.00%, 1/31/29 | EUR | 10,000 | 16,660 | |||||||||
1.95%, 7/30/30, 144A, REGS | EUR | 5,000 | 5,971 | |||||||||
4.20%, 1/31/37, 144A, REGS | EUR | 35,000 | 53,710 | |||||||||
|
| |||||||||||
220,482 | ||||||||||||
|
| |||||||||||
Sweden — 0.9% | ||||||||||||
Sweden Government Bond | SEK | 350,000 | 44,316 | |||||||||
|
| |||||||||||
Switzerland — 0.9% | ||||||||||||
Swiss Confederation Government Bond | CHF | 10,000 | 12,400 | |||||||||
1.50%, 7/24/25, REGS | CHF | 10,000 | 11,624 | |||||||||
4.00%, 1/06/49, REGS | CHF | 10,000 | 20,411 | |||||||||
|
| |||||||||||
44,435 | ||||||||||||
|
| |||||||||||
Thailand — 1.8% | ||||||||||||
Thailand Government Bond | THB | 3,000,000 | 88,363 | |||||||||
|
|
Principal | Value | |||||||||||
United Kingdom — 6.7% | ||||||||||||
United Kingdom Gilt | GBP | 25,000 | $ | 34,362 | ||||||||
8.00%, 6/07/21, REGS | GBP | 5,000 | 7,765 | |||||||||
1.75%, 9/07/22, REGS | GBP | 25,000 | 33,458 | |||||||||
2.25%, 9/07/23, REGS | GBP | 10,000 | 13,738 | |||||||||
5.00%, 3/07/25, REGS | GBP | 10,000 | 16,108 | |||||||||
1.50%, 7/22/26, REGS | GBP | 20,000 | 26,440 | |||||||||
4.75%, 12/07/30, REGS | GBP | 5,000 | 8,840 | |||||||||
4.25%, 6/07/32, REGS | GBP | 13,000 | 22,417 | |||||||||
4.25%, 6/07/32, REGS | GBP | 5,000 | 8,622 | |||||||||
4.75%, 12/07/38, REGS | GBP | 10,000 | 19,649 | |||||||||
4.50%, 12/07/42, REGS | GBP | 5,000 | 9,961 | |||||||||
4.25%, 12/07/46, REGS | GBP | 57,000 | 114,279 | |||||||||
4.25%, 12/07/49, REGS | GBP | 3,000 | 6,224 | |||||||||
3.50%, 7/22/68, REGS | GBP | 4,000 | 8,489 | |||||||||
|
| |||||||||||
330,352 | ||||||||||||
|
| |||||||||||
TOTAL SOVEREIGN BONDS | 4,785,311 | |||||||||||
|
| |||||||||||
TOTAL INVESTMENTS — 97.7% (Cost $4,837,683) | $ | 4,785,311 | ||||||||||
Other assets and liabilities, net — 2.3% | 113,488 | |||||||||||
|
| |||||||||||
NET ASSETS — 100.0% | $ | 4,898,799 | ||||||||||
|
|
OFZ: | Obligatsyi Federal’novo Zaima “Federal Loan Obligation” |
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. |
As of August 31, 2018, the Fund had the following forward foreign currency contracts outstanding:
Counterparty | Settlement Date | Currency To Deliver | Currency To Receive | Unrealized Appreciation | Unrealized Depreciation | |||||||||||||||||
The Bank of Nova Scotia | 9/5/2018 | CAD | 273,667 | USD | 210,309 | $ | 583 | $ | — | |||||||||||||
The Bank of Nova Scotia | 9/5/2018 | RUB | 2,639,500 | USD | 42,139 | 3,053 | — | |||||||||||||||
The Bank of Nova Scotia | 9/5/2018 | USD | 209,879 | CAD | 273,667 | — | (152 | ) | ||||||||||||||
The Bank of Nova Scotia | 9/5/2018 | USD | 39,189 | RUB | 2,639,500 | — | (102 | ) | ||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | AUD | 284,135 | USD | 211,244 | 6,980 | — | |||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | CHF | 44,276 | USD | 44,846 | — | (858 | ) | ||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | CZK | 677,000 | USD | 30,996 | 511 | — | |||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | DKK | 432,000 | USD | 68,015 | 716 | — | |||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | EUR | 1,711,282 | USD | 2,007,111 | 19,849 | — | |||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | GBP | 262,565 | USD | 344,877 | 4,392 | — | |||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | HUF | 5,400,000 | USD | 19,742 | 546 | — | |||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | IDR | 900,000,000 | USD | 62,198 | 1,142 | — | |||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | ILS | 157,500 | USD | 42,972 | — | (736 | ) | ||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | JPY | 2,800,000 | USD | 25,083 | — | (128 | ) | ||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | JPY | 128,558,343 | USD | 1,150,915 | — | (6,610 | ) | ||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | MXN | 1,767,489 | USD | 94,192 | 1,768 | — | |||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | MYR | 266,200 | USD | 65,430 | 663 | — | |||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | NOK | 342,000 | USD | 42,031 | 1,240 | — | |||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | NZD | 29,400 | USD | 20,013 | 562 | — | |||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | PLN | 258,800 | USD | 70,804 | 977 | — |
See Notes to Financial Statements. | 25 |
DBX ETF Trust
Schedule of Investments
Xtrackers Barclays International Treasury Bond Hedged ETF (Continued)
August 31, 2018
Counterparty | Settlement Date | Currency To Deliver | Currency To Receive | Unrealized Appreciation | Unrealized Depreciation | |||||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | SEK | 417,550 | USD | 47,636 | $ | 1,957 | $ | — | |||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | SGD | 63,300 | USD | 46,519 | 397 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | THB | 2,954,700 | USD | 89,061 | — | (1,228 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | USD | 205,486 | AUD | 284,135 | — | (1,222 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | USD | 45,782 | CHF | 44,276 | — | (78 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | USD | 30,612 | CZK | 677,000 | — | (128 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | USD | 67,420 | DKK | 432,000 | — | (121 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | USD | 6,991 | EUR | 5,961 | — | (69 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | USD | 1,984,141 | EUR | 1,705,321 | — | (3,801 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | USD | 341,269 | GBP | 262,565 | — | (785 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | USD | 19,268 | HUF | 5,400,000 | — | (72 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | USD | 61,100 | IDR | 900,000,000 | — | (44 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | USD | 43,757 | ILS | 157,500 | — | (50 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | USD | 1,177,421 | JPY | 130,558,343 | — | (1,889 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | USD | 7,162 | JPY | 800,000 | 41 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | USD | 92,439 | MXN | 1,767,489 | — | (15 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | USD | 64,777 | MYR | 266,200 | — | (10 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | USD | 40,896 | NOK | 342,000 | — | (105 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | USD | 19,507 | NZD | 29,400 | — | (56 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | USD | 70,317 | PLN | 258,800 | — | (491 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | USD | 45,702 | SEK | 417,550 | — | (22 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | USD | 46,203 | SGD | 63,300 | — | (80 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 9/6/2018 | USD | 90,199 | THB | 2,954,700 | 90 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 10/3/2018 | AUD | 4,200 | USD | 3,037 | 18 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 10/3/2018 | AUD | 284,135 | USD | 205,469 | 1,207 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 10/3/2018 | CAD | 273,667 | USD | 209,990 | 149 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 10/3/2018 | CHF | 44,276 | USD | 45,887 | 76 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 10/3/2018 | CZK | 677,000 | USD | 30,637 | 124 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 10/3/2018 | DKK | 432,000 | USD | 67,561 | 117 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 10/3/2018 | EUR | 1,705,321 | USD | 1,988,063 | 3,693 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 10/3/2018 | GBP | 262,565 | USD | 341,636 | 773 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 10/3/2018 | HUF | 5,400,000 | USD | 19,300 | 70 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 10/3/2018 | IDR | 900,000,000 | USD | 59,622 | — | (1,228 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 10/3/2018 | ILS | 157,500 | USD | 43,837 | 47 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 10/3/2018 | JPY | 130,558,343 | USD | 1,179,613 | 1,831 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 10/3/2018 | MXN | 1,767,489 | USD | 92,037 | 12 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 10/3/2018 | MYR | 266,200 | USD | 64,455 | — | (268 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 10/3/2018 | NOK | 342,000 | USD | 40,939 | 104 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 10/3/2018 | NZD | 29,400 | USD | 19,505 | 54 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 10/3/2018 | PLN | 258,800 | USD | 70,346 | 485 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 10/3/2018 | RUB | 2,639,500 | USD | 39,071 | 100 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 10/3/2018 | SEK | 417,550 | USD | 45,796 | 20 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 10/3/2018 | SGD | 63,300 | USD | 46,216 | 76 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 10/3/2018 | THB | 2,954,700 | USD | 90,243 | — | (114 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 10/3/2018 | USD | 4,663 | CZK | 103,000 | — | (21 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 10/3/2018 | USD | 10,727 | EUR | 9,200 | — | (22 | ) | ||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||
Total unrealized appreciation (depreciation) | $ | 54,423 | $ | (20,505 | ) | |||||||||||||||||||||||
|
|
|
|
See Notes to Financial Statements. | 26 |
DBX ETF Trust
Schedule of Investments
Xtrackers Barclays International Treasury Bond Hedged ETF (Continued)
August 31, 2018
Currency Abbreviations
AUD | Australian Dollar |
CAD | Canadian Dollar |
CHF | Swiss Franc |
CZK | Czech Koruna |
DKK | Danish Krone |
EUR | Euro |
GBP | Pound Sterling |
HUF | Hungarian Forint |
IDR | Indonesian Rupiah |
ILS | Israeli Shekel |
JPY | Japanese Yen |
MXN | Mexican Peso |
MYR | Malaysian Ringgit |
NOK | Norwegian Krone |
NZD | New Zealand Dollar |
PLN | Polish Zloty |
RUB | Russian Ruble |
SEK | Swedish Krona |
SGD | Singapore Dollar |
THB | Thai Baht |
USD | U.S. Dollar |
For information on the Fund’s policy and additional disclosures regarding forward foreign currency contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
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, 2018 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 | ||||||||||||
Sovereign Bonds (a) | $ | — | $ | 4,785,311 | $ | — | $ | 4,785,311 | ||||||||
Derivatives (b) | ||||||||||||||||
Forward Foreign Currency Contracts | — | 54,423 | — | 54,423 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | — | $ | 4,839,734 | $ | — | $ | 4,839,734 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liabilities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Derivatives (b) | ||||||||||||||||
Forward Foreign Currency Contracts | $ | — | $ | (20,505 | ) | $ | — | $ | (20,505 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | — | $ | (20,505 | ) | $ | — | $ | (20,505 | ) | ||||||
|
|
|
|
|
|
|
|
(a) | See Schedule of Investments for additional detailed categorizations. |
(b) | Derivatives include unrealized appreciation (depreciation) on forward foreign currency contracts. |
There have been no transfers between fair value measurement levels during the year ended August 31, 2018.
See Notes to Financial Statements. | 27 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF
August 31, 2018
Principal | Value | |||||||
CORPORATE BONDS — 97.6% | ||||||||
Basic Materials — 4.2% | ||||||||
Chemicals — 2.0% | ||||||||
Chemours Co. | $ | 150,000 | $ | 147,750 | ||||
Consolidated Energy Finance SA, 144A | 200,000 | 207,100 | ||||||
Hexion, Inc. | 350,000 | 332,062 | ||||||
10.375%, 2/01/22, 144A | 200,000 | 197,806 | ||||||
INEOS Group Holdings SA, 144A | 220,000 | 217,705 | ||||||
NOVA Chemicals Corp. | 150,000 | 150,562 | ||||||
5.25%, 6/01/27, 144A | 750,000 | 714,375 | ||||||
OCI NV, 144A | 200,000 | 207,750 | ||||||
Olin Corp. | 300,000 | 287,625 | ||||||
Platform Specialty Products Corp., 144A | 250,000 | 248,438 | ||||||
SPCM SA, 144A | 250,000 | 239,608 | ||||||
|
| |||||||
2,950,781 | ||||||||
|
| |||||||
Iron/Steel — 0.9% | ||||||||
AK Steel Corp. | 150,000 | 142,875 | ||||||
Allegheny Technologies, Inc. | 200,000 | 204,000 | ||||||
7.875%, 8/15/23 | 155,000 | 166,431 | ||||||
Cleveland-Cliffs, Inc. | 342,000 | 337,147 | ||||||
U.S. Steel Corp. | 200,000 | 199,750 | ||||||
United States Steel Corp. | 246,000 | 250,920 | ||||||
|
| |||||||
1,301,123 | ||||||||
|
| |||||||
Mining — 1.3% | ||||||||
Alcoa Nederland Holding BV | 150,000 | 162,562 | ||||||
6.125%, 5/15/28, 144A | 200,000 | 207,000 | ||||||
Constellium NV, 144A | 500,000 | 500,625 | ||||||
FMG Resources August 2006 Pty Ltd. | 300,000 | 295,515 | ||||||
5.125%, 5/15/24, 144A (a) | 150,000 | 145,688 | ||||||
Freeport-McMoRan, Inc. | 270,000 | 261,225 | ||||||
Hudbay Minerals, Inc., 144A | 310,000 | 316,588 | ||||||
|
| |||||||
1,889,203 | ||||||||
|
| |||||||
Communications — 24.7% | ||||||||
Advertising — 0.1% | ||||||||
Acosta, Inc., 144A | 315,000 | 144,112 | ||||||
|
|
Principal | Value | |||||||
Internet — 1.2% | ||||||||
Netflix, Inc., 144A | $ | 500,000 | $ | 503,655 | ||||
Symantec Corp., 144A | 400,000 | 397,710 | ||||||
Zayo Group LLC / Zayo Capital, Inc. | 479,000 | 502,351 | ||||||
5.75%, 1/15/27, 144A | 385,000 | 386,925 | ||||||
|
| |||||||
1,790,641 | ||||||||
|
| |||||||
Media — 12.0% | ||||||||
Altice Financing SA | 600,000 | 605,244 | ||||||
7.50%, 5/15/26, 144A | 700,000 | 670,250 | ||||||
Altice Finco SA, 144A | 100,000 | 101,250 | ||||||
Altice France SA | 250,000 | 247,813 | ||||||
7.375%, 5/01/26, 144A | 1,750,000 | 1,725,938 | ||||||
8.125%, 2/01/27, 144A | 450,000 | 457,875 | ||||||
Altice Luxembourg SA | 620,000 | 599,850 | ||||||
7.625%, 2/15/25, 144A (a) | 520,000 | 482,581 | ||||||
Altice US Finance I Corp., 144A | 500,000 | 492,500 | ||||||
Cablevision Systems Corp. | 250,000 | 255,000 | ||||||
CCO Holdings LLC / CCO Holdings Capital Corp. | 500,000 | 498,125 | ||||||
5.50%, 5/01/26, 144A | 450,000 | 445,500 | ||||||
5.125%, 5/01/27, 144A | 1,200,000 | 1,147,500 | ||||||
5.875%, 5/01/27, 144A | 50,000 | 49,562 | ||||||
5.00%, 2/01/28, 144A | 500,000 | 470,765 | ||||||
Cengage Learning, Inc., 144A | 175,000 | 151,480 | ||||||
Cequel Communications Holdings I LLC / Cequel Capital Corp. | 375,000 | 400,781 | ||||||
7.50%, 4/01/28, 144A | 250,000 | 261,875 | ||||||
CSC Holdings LLC | 250,000 | 243,125 | ||||||
5.50%, 4/15/27, 144A | 550,000 | 536,937 | ||||||
5.375%, 2/01/28, 144A | 200,000 | 192,190 | ||||||
DISH DBS Corp. | 500,000 | 508,750 | ||||||
5.875%, 7/15/22 | 690,000 | 664,987 | ||||||
5.00%, 3/15/23 (a) | 350,000 | 312,812 | ||||||
5.875%, 11/15/24 | 550,000 | 480,563 | ||||||
7.75%, 7/01/26 | 650,000 | 589,063 | ||||||
Gray Television, Inc. | 30,000 | 29,475 | ||||||
5.875%, 7/15/26, 144A | 300,000 | 300,750 | ||||||
Meredith Corp., 144A | 400,000 | 406,000 | ||||||
Nexstar Broadcasting, Inc., 144A | 500,000 | 492,600 |
See Notes to Financial Statements. | 28 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Media (Continued) | ||||||||
Sinclair Television Group, Inc., 144A | $ | 300,000 | $ | 279,000 | ||||
Sirius XM Radio, Inc., 144A | 450,000 | 437,058 | ||||||
Telenet Finance Luxembourg Notes Sarl, 144A | 200,000 | 188,000 | ||||||
Univision Communications, Inc. | 350,000 | 333,375 | ||||||
5.125%, 2/15/25, 144A | 485,000 | 446,200 | ||||||
UPC Holding BV, 144A | 650,000 | 606,938 | ||||||
UPCB Finance IV Ltd., 144A | 400,000 | 396,040 | ||||||
Virgin Media Secured Finance PLC, 144A | 400,000 | 390,580 | ||||||
Ziggo Bond Finance BV | 200,000 | 187,750 | ||||||
6.00%, 1/15/27, 144A | 100,000 | 91,000 | ||||||
Ziggo BV, 144A | 550,000 | 519,409 | ||||||
|
| |||||||
17,696,491 | ||||||||
|
| |||||||
Telecommunications — 11.4% | ||||||||
CenturyLink, Inc. | ||||||||
Series T, 5.80%, 3/15/22 | 600,000 | 616,320 | ||||||
Series Y, 7.50%, 4/01/24 (a) | 506,000 | 542,685 | ||||||
Cincinnati Bell, Inc., 144A | 200,000 | 177,000 | ||||||
CommScope Technologies LLC, 144A | 150,000 | 146,250 | ||||||
CommScope, Inc., 144A | 850,000 | 863,812 | ||||||
Consolidated Communications, Inc. | 160,000 | 151,800 | ||||||
DKT Finance ApS, 144A | 200,000 | 212,000 | ||||||
Frontier Communications Corp. | 200,000 | 162,000 | ||||||
10.50%, 9/15/22 | 700,000 | 619,500 | ||||||
7.125%, 1/15/23 | 200,000 | 137,250 | ||||||
7.625%, 4/15/24 | 250,000 | 158,750 | ||||||
6.875%, 1/15/25 | 175,000 | 103,250 | ||||||
11.00%, 9/15/25 | 1,070,000 | 823,900 | ||||||
8.50%, 4/01/26, 144A | 500,000 | 472,275 | ||||||
GTH Finance BV, 144A | 200,000 | 208,553 | ||||||
GTT Communications, Inc., 144A | 150,000 | 142,500 | ||||||
Hughes Satellite Systems Corp. | 450,000 | 432,000 | ||||||
Inmarsat Finance PLC, 144A | 100,000 | 103,000 | ||||||
Intelsat Connect Finance SA, 144A | 350,000 | 349,282 | ||||||
Intelsat Jackson Holdings SA | 600,000 | 602,250 |
Principal | Value | |||||||
Telecommunications (Continued) | ||||||||
7.50%, 4/01/21 | $ | 175,000 | $ | 176,969 | ||||
5.50%, 8/01/23 | 250,000 | 228,675 | ||||||
9.75%, 7/15/25, 144A | 750,000 | 795,937 | ||||||
Intelsat Luxembourg SA | 592,000 | 573,500 | ||||||
8.125%, 6/01/23 | 300,000 | 261,375 | ||||||
Level 3 Financing, Inc. | 330,000 | 330,825 | ||||||
5.25%, 3/15/26 | 447,000 | 439,222 | ||||||
Nokia OYJ | 150,000 | 144,563 | ||||||
Sprint Communications, Inc. | 770,000 | 910,525 | ||||||
6.00%, 11/15/22 | 215,000 | 218,158 | ||||||
Sprint Corp. | 650,000 | 683,111 | ||||||
7.875%, 9/15/23 | 1,100,000 | 1,186,625 | ||||||
7.125%, 6/15/24 | 1,350,000 | 1,404,000 | ||||||
7.625%, 2/15/25 | 100,000 | 106,375 | ||||||
7.625%, 3/01/26 | 400,000 | 421,064 | ||||||
VEON Holdings BV, 144A | 400,000 | 380,120 | ||||||
Wind Tre SpA, 144A | 700,000 | 629,766 | ||||||
Windstream Services LLC / Windstream Finance Corp. | 475,000 | 384,750 | ||||||
9.00%, 6/30/25, 144A | 126,000 | 91,665 | ||||||
8.625%, 10/31/25, 144A | 245,000 | 229,688 | ||||||
WTT Investment Ltd., 144A | 200,000 | 200,878 | ||||||
|
| |||||||
16,822,168 | ||||||||
|
| |||||||
Consumer, Cyclical — 12.0% | ||||||||
Apparel — 0.2% | ||||||||
Hanesbrands, Inc., 144A | 350,000 | 338,625 | ||||||
|
| |||||||
Auto Manufacturers — 0.9% | ||||||||
Jaguar Land Rover Automotive PLC | 250,000 | 247,500 | ||||||
4.50%, 10/01/27, 144A | 125,000 | 106,406 | ||||||
Navistar International Corp., 144A | 500,000 | 522,500 | ||||||
Tesla, Inc., 144A | 500,000 | 434,375 | ||||||
|
| |||||||
1,310,781 | ||||||||
|
| |||||||
Auto Parts & Equipment — 0.9% | ||||||||
Adient Global Holdings Ltd., 144A | 500,000 | 452,500 | ||||||
American Axle & Manufacturing, Inc. | 150,000 | 149,812 | ||||||
6.50%, 4/01/27 (a) | 170,000 | 168,938 | ||||||
Goodyear Tire & Rubber Co. | 50,000 | 47,125 | ||||||
4.875%, 3/15/27 (a) | 450,000 | 414,000 |
See Notes to Financial Statements. | 29 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Auto Parts & Equipment (Continued) | ||||||||
Tenneco, Inc. | $ | 100,000 | $ | 89,000 | ||||
|
| |||||||
1,321,375 | ||||||||
|
| |||||||
Distribution/Wholesale — 0.4% | ||||||||
American Builders & Contractors Supply Co., Inc., 144A | 200,000 | 201,240 | ||||||
Core & Main LP, 144A | 150,000 | 144,750 | ||||||
KAR Auction Services, Inc., 144A | 300,000 | 294,750 | ||||||
|
| |||||||
640,740 | ||||||||
|
| |||||||
Entertainment — 2.1% | ||||||||
AMC Entertainment Holdings, Inc. | 200,000 | 194,876 | ||||||
5.875%, 11/15/26 | 230,000 | 224,825 | ||||||
6.125%, 5/15/27 | 150,000 | 147,750 | ||||||
Caesars Resort Collection LLC / CRC Finco, Inc., 144A | 500,000 | 479,375 | ||||||
Eldorado Resorts, Inc. | 324,000 | 330,885 | ||||||
International Game Technology PLC, 144A | 450,000 | 474,750 | ||||||
LHMC Finco Sarl, 144A | 200,000 | 202,000 | ||||||
Mohegan Gaming & Entertainment, 144A | 100,000 | 93,125 | ||||||
Scientific Games International, Inc., 144A | 350,000 | 333,375 | ||||||
Six Flags Entertainment Corp., 144A | 540,000 | 531,900 | ||||||
|
| |||||||
3,012,861 | ||||||||
|
| |||||||
Food Service — 0.2% | ||||||||
Aramark Services, Inc., 144A | 300,000 | 294,375 | ||||||
|
| |||||||
Home Builders — 1.2% | ||||||||
CalAtlantic Group, Inc. | 75,000 | 75,281 | ||||||
K Hovnanian Enterprises, Inc., 144A | 250,000 | 248,750 | ||||||
Lennar Corp. | 24,000 | 23,872 | ||||||
4.75%, 11/29/27 | 250,000 | 239,688 | ||||||
Mattamy Group Corp., 144A | 150,000 | 148,530 | ||||||
PulteGroup, Inc. | 453,000 | 451,301 | ||||||
5.00%, 1/15/27 | 70,000 | 66,938 | ||||||
Toll Brothers Finance Corp. | 200,000 | 192,000 | ||||||
4.35%, 2/15/28 | 100,000 | 92,000 |
Principal | Value | |||||||
Home Builders (Continued) | ||||||||
William Lyon Homes, Inc., 144A | $ | 150,000 | $ | 145,545 | ||||
|
| |||||||
1,683,905 | ||||||||
|
| |||||||
Home Furnishings — 0.2% | ||||||||
Tempur Sealy International, Inc. | 350,000 | 342,125 | ||||||
|
| |||||||
Leisure Time — 0.6% | ||||||||
24 Hour Fitness Worldwide, Inc., 144A | 100,000 | 100,532 | ||||||
Sabre GLBL, Inc. | 70,000 | 70,875 | ||||||
5.25%, 11/15/23, 144A | 430,000 | 433,066 | ||||||
Viking Cruises Ltd., 144A | 270,000 | 265,950 | ||||||
|
| |||||||
870,423 | ||||||||
|
| |||||||
Lodging — 1.7% | ||||||||
Boyd Gaming Corp. | 225,000 | 230,906 | ||||||
6.00%, 8/15/26 | 200,000 | 202,500 | ||||||
Diamond Resorts International, Inc. | 20,000 | 20,994 | ||||||
10.75%, 9/01/24, 144A | 300,000 | 314,250 | ||||||
Melco Resorts Finance Ltd., 144A | 250,000 | 237,983 | ||||||
MGM Resorts International | 350,000 | 331,625 | ||||||
Station Casinos LLC, 144A | 50,000 | 48,437 | ||||||
Studio City Co. Ltd., 144A | 400,000 | 411,000 | ||||||
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp. | 300,000 | 297,570 | ||||||
5.25%, 5/15/27, 144A | 450,000 | 421,313 | ||||||
|
| |||||||
2,516,578 | ||||||||
|
| |||||||
Retail — 3.3% | ||||||||
1011778 BC ULC / New Red Finance, Inc., 144A | 850,000 | 824,500 | ||||||
Asbury Automotive Group, Inc. | 200,000 | 201,500 | ||||||
Beacon Roofing Supply, Inc., 144A | 430,000 | 398,825 | ||||||
Ferrellgas LP / Ferrellgas Finance Corp. | 500,000 | 460,000 | ||||||
6.75%, 6/15/23 | 100,000 | 86,500 | ||||||
Golden Nugget, Inc. | 320,000 | 326,000 | ||||||
8.75%, 10/01/25, 144A | 280,000 | 296,100 | ||||||
IRB Holding Corp., 144A | 150,000 | 143,625 | ||||||
JC Penney Corp., Inc., 144A | 150,000 | 135,375 |
See Notes to Financial Statements. | 30 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Retail (Continued) | ||||||||
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC, 144A | $ | 194,000 | $ | 185,270 | ||||
L Brands, Inc. | 300,000 | 258,375 | ||||||
Neiman Marcus Group Ltd. LLC, 144A | 330,000 | 225,225 | ||||||
PetSmart, Inc. | 800,000 | 542,000 | ||||||
5.875%, 6/01/25, 144A | 275,000 | 224,468 | ||||||
8.875%, 6/01/25, 144A | 50,000 | 34,000 | ||||||
Sears Holdings Corp. | 175,000 | 71,094 | ||||||
Staples, Inc., 144A | 300,000 | 284,220 | ||||||
Suburban Propane Partners LP/Suburban Energy Finance Corp. | 150,000 | 147,750 | ||||||
|
| |||||||
4,844,827 | ||||||||
|
| |||||||
Storage / Warehousing — 0.1% | ||||||||
Algeco Global Finance PLC, 144A | 150,000 | 154,875 | ||||||
|
| |||||||
Toys/Games/Hobbies — 0.2% | ||||||||
Mattel, Inc., 144A | 300,000 | 294,582 | ||||||
|
| |||||||
Consumer, Non-cyclical — 18.4% | ||||||||
Agriculture — 0.1% | ||||||||
Vector Group Ltd., 144A | 250,000 | 240,625 | ||||||
|
| |||||||
Commercial Services — 4.9% | ||||||||
ADT Corp. | 300,000 | 286,125 | ||||||
Ahern Rentals, Inc., 144A | 130,000 | 128,544 | ||||||
APX Group, Inc. | 500,000 | 501,250 | ||||||
7.875%, 12/01/22 | 350,000 | 358,312 | ||||||
Avis Budget Car Rental LLC / Avis Budget Finance, Inc. | 115,000 | 114,712 | ||||||
5.50%, 4/01/23 | 300,000 | 299,625 | ||||||
Brink’s Co., 144A | 150,000 | 140,625 | ||||||
Gartner, Inc., 144A | 200,000 | 203,000 | ||||||
Herc Rentals, Inc., 144A | 174,000 | 188,520 | ||||||
Hertz Corp. | 425,000 | 424,868 | ||||||
7.375%, 1/15/21 (a) | 150,000 | 150,562 | ||||||
7.625%, 6/01/22, 144A | 350,000 | 348,250 | ||||||
6.25%, 10/15/22 (a) | 70,000 | 65,625 | ||||||
5.50%, 10/15/24, 144A | 225,000 | 189,563 |
Principal | Value | |||||||
Commercial Services (Continued) | ||||||||
Jaguar Holding Co. II / Pharmaceutical Product Development LLC, 144A | $ | 400,000 | $ | 403,000 | ||||
Laureate Education, Inc., 144A | 50,000 | 54,063 | ||||||
Monitronics International, Inc. | 160,000 | 118,400 | ||||||
Nielsen Co. Luxembourg SARL, 144A | 200,000 | 195,000 | ||||||
Nielsen Finance LLC / Nielsen Finance Co., 144A | 610,000 | 593,866 | ||||||
Prime Security Services Borrower LLC / Prime Finance, Inc., 144A | 730,000 | 783,874 | ||||||
RR Donnelley & Sons Co. | 50,000 | 52,938 | ||||||
ServiceMaster Co. LLC, 144A | 200,000 | 197,000 | ||||||
Team Health Holdings, Inc., 144A | 333,000 | 290,543 | ||||||
United Rentals North America, Inc. | 850,000 | 812,281 | ||||||
Verscend Escrow Corp., 144A | 300,000 | 308,160 | ||||||
|
| |||||||
7,208,706 | ||||||||
|
| |||||||
Cosmetics/Personal Care — 0.8% | ||||||||
Avon Products, Inc. | 400,000 | 401,536 | ||||||
7.00%, 3/15/23 | 50,000 | 43,125 | ||||||
Coty, Inc., 144A | 200,000 | 188,625 | ||||||
First Quality Finance Co., Inc., 144A | 400,000 | 376,000 | ||||||
Revlon Consumer Products Corp. | 150,000 | 123,750 | ||||||
6.25%, 8/01/24 | 100,000 | 58,500 | ||||||
|
| |||||||
1,191,536 | ||||||||
|
| |||||||
Food — 2.1% | ||||||||
Albertsons Cos. LLC / Safeway, Inc. / New Albertson’s, Inc. / Albertson’s LLC | 295,000 | 286,150 | ||||||
5.75%, 3/15/25 | 400,000 | 364,000 | ||||||
B&G Foods, Inc. | 200,000 | 194,750 | ||||||
Pilgrim’s Pride Corp. | 250,000 | 242,500 | ||||||
5.875%, 9/30/27, 144A | 230,000 | 219,075 | ||||||
Post Holdings, Inc. | 650,000 | 650,000 | ||||||
5.00%, 8/15/26, 144A | 700,000 | 673,750 | ||||||
5.75%, 3/01/27, 144A | 250,000 | 247,500 | ||||||
5.625%, 1/15/28, 144A | 80,000 | 77,600 |
See Notes to Financial Statements. | 31 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Food (Continued) | ||||||||
Sigma Holdco BV, 144A | $ | 200,000 | $ | 190,000 | ||||
|
| |||||||
3,145,325 | ||||||||
|
| |||||||
Healthcare-Products — 2.2% | ||||||||
Avantor, Inc. | 330,000 | 335,775 | ||||||
9.00%, 10/01/25, 144A | 700,000 | 723,625 | ||||||
DJO Finance LLC / DJO Finance Corp., 144A | 350,000 | 363,230 | ||||||
Kinetic Concepts, Inc. / KCI USA, Inc. | 230,000 | 238,050 | ||||||
12.50%, 11/01/21, 144A | 54,000 | 59,400 | ||||||
Mallinckrodt International Finance SA | 158,000 | 137,855 | ||||||
Mallinckrodt International Finance SA / Mallinckrodt CB LLC | 370,000 | 346,875 | ||||||
5.625%, 10/15/23, 144A (a) | 250,000 | 224,063 | ||||||
5.50%, 4/15/25, 144A (a) | 200,000 | 171,750 | ||||||
Ortho-Clinical Diagnostics, Inc. / Ortho-Clinical Diagnostics SA, 144A | 450,000 | 443,812 | ||||||
Sotera Health Holdings LLC, 144A | 150,000 | 154,785 | ||||||
|
| |||||||
3,199,220 | ||||||||
|
| |||||||
Healthcare-Services — 4.2% | ||||||||
AHP Health Partners, Inc., 144A | 200,000 | 210,500 | ||||||
CHS/Community Health Systems, Inc. | 100,000 | 97,000 | ||||||
6.875%, 2/01/22 | 862,000 | 443,930 | ||||||
6.25%, 3/31/23 | 980,000 | 935,900 | ||||||
11.00%, 6/30/23, 144A (a) | 1,000,000 | 900,000 | ||||||
8.125%, 6/30/24, 144A (a) | 96,000 | 79,440 | ||||||
DaVita, Inc. | 475,000 | 452,437 | ||||||
HCA, Inc. | 300,000 | 301,500 | ||||||
MPH Acquisition Holdings LLC, 144A | 450,000 | 466,875 | ||||||
Surgery Center Holdings, Inc., 144A | 250,000 | 261,563 | ||||||
Tenet Healthcare Corp. | 850,000 | 901,000 | ||||||
6.75%, 6/15/23 | 400,000 | 401,500 | ||||||
5.125%, 5/01/25 | 150,000 | 149,250 | ||||||
7.00%, 8/01/25 | 575,000 | 576,078 | ||||||
|
| |||||||
6,176,973 | ||||||||
|
| |||||||
Pharmaceuticals — 4.1% | ||||||||
Bausch Health Cos., Inc. | 450,000 | 457,990 | ||||||
5.625%, 12/01/21, 144A | 300,000 | 298,125 | ||||||
5.50%, 3/01/23, 144A | 300,000 | 284,289 | ||||||
5.875%, 5/15/23, 144A | 900,000 | 863,775 |
Principal | Value | |||||||
Pharmaceuticals (Continued) | ||||||||
Endo Dac / Endo Finance LLC / Endo Finco, Inc. | $ | 500,000 | $ | 432,500 | ||||
6.00%, 2/01/25, 144A | 320,000 | 266,400 | ||||||
Endo Finance LLC, 144A | 300,000 | 279,000 | ||||||
Endo Finance LLC / Endo Finco, Inc., 144A | 150,000 | 129,000 | ||||||
Horizon Pharma, Inc. | 200,000 | 204,500 | ||||||
Valeant Pharmaceuticals International, 144A | 300,000 | 318,984 | ||||||
Valeant Pharmaceuticals International, Inc. | 915,000 | 854,381 | ||||||
5.50%, 11/01/25, 144A | 400,000 | 400,500 | ||||||
9.00%, 12/15/25, 144A | 1,005,000 | 1,066,556 | ||||||
Vizient, Inc., 144A | 150,000 | 164,625 | ||||||
|
| |||||||
6,020,625 | ||||||||
|
| |||||||
Diversified — 0.1% | ||||||||
Holding Companies-Diversified — 0.1% |
| |||||||
Stena AB, 144A | 150,000 | 141,375 | ||||||
|
| |||||||
Energy — 11.6% | ||||||||
Oil & Gas — 10.0% | ||||||||
Ascent Resources Utica Holdings LLC / ARU Finance Corp., 144A | 350,000 | 388,500 | ||||||
Baytex Energy Corp., 144A | 386,000 | 377,315 | ||||||
Bruin E&P Partners LLC, 144A | 150,000 | 155,625 | ||||||
California Resources Corp., 144A | 600,000 | 540,750 | ||||||
Calumet Specialty Products Partners LP / Calumet Finance Corp. | 660,000 | 653,400 | ||||||
Chesapeake Energy Corp. | 284,000 | 290,745 | ||||||
8.00%, 6/15/27 (a) | 600,000 | 609,000 | ||||||
Citgo Holding, Inc., 144A | 500,000 | 536,250 | ||||||
CITGO Petroleum Corp., 144A | 100,000 | 101,250 | ||||||
Continental Resources, Inc. | 460,000 | 466,205 | ||||||
CrownRock LP / CrownRock Finance, Inc., 144A | 445,000 | 433,875 | ||||||
Denbury Resources, Inc. | 155,000 | 167,400 | ||||||
9.25%, 3/31/22, 144A | 100,000 | 107,125 | ||||||
Diamond Offshore Drilling, Inc. | 150,000 | 153,375 |
See Notes to Financial Statements. | 32 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Oil & Gas (Continued) | ||||||||
Endeavor Energy Resources LP / EER Finance, Inc., 144A | $ | 105,000 | $ | 105,131 | ||||
Ensco PLC | 346,000 | 288,477 | ||||||
5.20%, 3/15/25 (a) | 375,000 | 315,000 | ||||||
EP Energy LLC / Everest Acquisition Finance, Inc. | 550,000 | 435,875 | ||||||
8.00%, 11/29/24, 144A | 250,000 | 251,875 | ||||||
8.00%, 2/15/25, 144A | 55,000 | 40,012 | ||||||
7.75%, 5/15/26, 144A | 200,000 | 205,000 | ||||||
Extraction Oil & Gas, Inc., 144A | 300,000 | 282,375 | ||||||
Gulfport Energy Corp. | 625,000 | 620,312 | ||||||
Hilcorp Energy I LP / Hilcorp Finance Co., 144A | 200,000 | 199,500 | ||||||
Jones Energy Holdings LLC / Jones Energy Finance Corp. | 100,000 | 61,500 | ||||||
9.25%, 3/15/23, 144A | 150,000 | 152,625 | ||||||
Jupiter Resources, Inc., 144A | 350,000 | 177,625 | ||||||
MEG Energy Corp. | 250,000 | 228,125 | ||||||
7.00%, 3/31/24, 144A | 390,000 | 355,875 | ||||||
6.50%, 1/15/25, 144A | 30,000 | 29,962 | ||||||
Nabors Industries, Inc., 144A | 300,000 | 289,377 | ||||||
Noble Holding International Ltd. | 347,000 | 340,927 | ||||||
7.95%, 4/01/25 (a) | 50,000 | 47,750 | ||||||
7.875%, 2/01/26, 144A (a) | 175,000 | 180,031 | ||||||
Oasis Petroleum, Inc., 144A | 150,000 | 152,813 | ||||||
Parkland Fuel Corp., 144A | 100,000 | 100,250 | ||||||
PBF Holding Co LLC / PBF Finance Corp. | 145,000 | 153,338 | ||||||
PDC Energy, Inc. | 175,000 | 170,406 | ||||||
Precision Drilling Corp., 144A | 200,000 | 206,250 | ||||||
Puma International Financing SA, 144A | 325,000 | 287,404 | ||||||
QEP Resources, Inc. | 125,000 | 120,000 | ||||||
Range Resources Corp. | 200,000 | 192,500 | ||||||
Rowan Cos., Inc. | 400,000 | 374,000 | ||||||
Sable Permian Resources Land LLC / AEPB Finance Corp. | 350,000 | 225,750 | ||||||
7.375%, 11/01/21, 144A | 50,000 | 31,500 |
Principal | Value | |||||||
Oil & Gas (Continued) | ||||||||
Sanchez Energy Corp. | $ | 550,000 | $ | 385,000 | ||||
6.125%, 1/15/23 | 150,000 | 85,448 | ||||||
SM Energy Co. | 100,000 | 97,500 | ||||||
5.625%, 6/01/25 (a) | 275,000 | 273,625 | ||||||
6.75%, 9/15/26 (a) | 50,000 | 52,063 | ||||||
6.625%, 1/15/27 | 100,000 | 103,254 | ||||||
Southwestern Energy Co. | 460,000 | 462,300 | ||||||
7.75%, 10/01/27 | 150,000 | 159,375 | ||||||
Sunoco LP / Sunoco Finance Corp. | 100,000 | 96,000 | ||||||
5.875%, 3/15/28, 144A | 100,000 | 96,000 | ||||||
Transocean, Inc. | 70,000 | 69,475 | ||||||
9.00%, 7/15/23, 144A | 50,000 | 54,063 | ||||||
7.50%, 1/15/26, 144A | 550,000 | 561,688 | ||||||
Ultra Resources, Inc. | 50,000 | 24,625 | ||||||
7.125%, 4/15/25, 144A (a) | 230,000 | 102,925 | ||||||
Whiting Petroleum Corp. | 400,000 | 417,500 | ||||||
Wildhorse Resource Development Corp. | 150,000 | 151,875 | ||||||
|
| |||||||
14,795,096 | ||||||||
|
| |||||||
Oil & Gas Services — 1.2% | ||||||||
Bristow Group, Inc. | 260,000 | 184,600 | ||||||
KCA Deutag UK Finance PLC, 144A | 200,000 | 200,500 | ||||||
McDermott Technology Americas, Inc. / McDermott Technology US, Inc., 144A | 400,000 | 426,620 | ||||||
SESI LLC | 100,000 | 103,750 | ||||||
Weatherford International Ltd. | 274,000 | 269,548 | ||||||
4.50%, 4/15/22 | 200,000 | 175,000 | ||||||
8.25%, 6/15/23 (a) | 300,000 | 279,750 | ||||||
9.875%, 2/15/24 | 150,000 | 142,500 | ||||||
|
| |||||||
1,782,268 | ||||||||
|
| |||||||
Pipelines — 0.4% | ||||||||
Genesis Energy LP / Genesis Energy Finance Corp. | 250,000 | 243,125 | ||||||
6.25%, 5/15/26 | 170,000 | 160,650 | ||||||
NuStar Logistics LP | 150,000 | 150,000 | ||||||
|
| |||||||
553,775 | ||||||||
|
| |||||||
Financial — 11.2% | ||||||||
Banks — 0.8% | ||||||||
CIT Group, Inc. | 200,000 | 209,500 |
See Notes to Financial Statements. | 33 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Banks (Continued) | ||||||||
Freedom Mortgage Corp. | $ | 250,000 | $ | 242,813 | ||||
8.25%, 4/15/25, 144A | 100,000 | 97,125 | ||||||
Intesa Sanpaolo SpA | 450,000 | 407,683 | ||||||
5.71%, 1/15/26, 144A | 270,000 | 245,506 | ||||||
|
| |||||||
1,202,627 | ||||||||
|
| |||||||
Diversified Financial Services — 5.0% | ||||||||
Ally Financial, Inc. | 750,000 | 780,000 | ||||||
Blackstone CQP Holdco LP, 144A | 500,000 | 503,926 | ||||||
Curo Group Holdings Corp., 144A | 150,000 | 148,875 | ||||||
Jefferies Finance LLC / JFIN Co-Issuer Corp., 144A | 500,000 | 507,500 | ||||||
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., 144A | 250,000 | 235,312 | ||||||
Lincoln Finance Ltd., 144A | 100,000 | 103,375 | ||||||
LPL Holdings, Inc., 144A | 400,000 | 392,000 | ||||||
Nationstar Mortgage Holdings, Inc. | 200,000 | 208,000 | ||||||
9.125%, 7/15/26, 144A | 300,000 | 313,125 | ||||||
Nationstar Mortgage LLC / Nationstar Capital Corp. | 150,000 | 150,375 | ||||||
Navient Corp. Series MTN, | 70,000 | 74,288 | ||||||
6.50%, 6/15/22 | 250,000 | 258,825 | ||||||
5.50%, 1/25/23 | 650,000 | 645,118 | ||||||
7.25%, 9/25/23 | 500,000 | 530,000 | ||||||
Series MTN, 6.125%, 3/25/24 | 100,000 | 99,750 | ||||||
5.875%, 10/25/24 | 100,000 | 97,250 | ||||||
6.75%, 6/15/26 | 200,000 | 196,750 | ||||||
NFP Corp., 144A | 125,000 | 123,125 | ||||||
Quicken Loans, Inc. | 445,000 | 442,775 | ||||||
5.25%, 1/15/28, 144A | 230,000 | 211,600 | ||||||
Springleaf Finance Corp. | 250,000 | 258,125 | ||||||
5.625%, 3/15/23 | 281,000 | 281,000 | ||||||
6.875%, 3/15/25 | 500,000 | 501,400 | ||||||
7.125%, 3/15/26 | 300,000 | 299,084 | ||||||
|
| |||||||
7,361,578 | ||||||||
|
| |||||||
Insurance — 1.1% | ||||||||
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 144A | 200,000 | 208,000 | ||||||
Ardonagh Midco 3 PLC, 144A | 130,000 | 132,600 |
Principal | Value | |||||||
Insurance (Continued) | ||||||||
AssuredPartners, Inc., 144A | $ | 150,000 | $ | 147,375 | ||||
Genworth Holdings, Inc. | 650,000 | 676,000 | ||||||
4.80%, 2/15/24 | 25,000 | 22,375 | ||||||
HUB International Ltd., 144A | 400,000 | 398,420 | ||||||
|
| |||||||
1,584,770 | ||||||||
|
| |||||||
Real Estate — 0.7% | ||||||||
Howard Hughes Corp., 144A | 300,000 | 297,000 | ||||||
Kennedy-Wilson, Inc. | 309,000 | 307,841 | ||||||
Realogy Group LLC / Realogy Co.-Issuer Corp., 144A | 300,000 | 282,000 | ||||||
WeWork Cos., Inc., 144A | 200,000 | 194,780 | ||||||
|
| |||||||
1,081,621 | ||||||||
|
| |||||||
Real Estate Investment Trusts — 2.8% | ||||||||
CBL & Associates LP | 100,000 | 84,760 | ||||||
5.95%, 12/15/26 | 200,000 | 163,000 | ||||||
CyrusOne LP / CyrusOne Finance Corp. | 150,000 | 151,125 | ||||||
Equinix, Inc. | 250,000 | 255,000 | ||||||
ESH Hospitality, Inc., 144A | 410,000 | 398,212 | ||||||
Iron Mountain, Inc. | 230,000 | 228,563 | ||||||
4.875%, 9/15/27, 144A | 420,000 | 391,272 | ||||||
5.25%, 3/15/28, 144A | 200,000 | 190,250 | ||||||
iStar, Inc. | 300,000 | 297,750 | ||||||
MGM Growth Properties Operating Partnership LP / MGP Finance Co-Issuer, Inc. | 250,000 | 239,375 | ||||||
MPT Operating Partnership LP / MPT Finance Corp. | 515,000 | 517,575 | ||||||
5.00%, 10/15/27 | 54,000 | 53,055 | ||||||
SBA Communications Corp. | 350,000 | 346,220 | ||||||
Starwood Property Trust, Inc. | 150,000 | 142,875 | ||||||
Uniti Group LP / Uniti Fiber Holdings, Inc. / CSL Capital LLC, 144A | 30,000 | 27,253 | ||||||
Uniti Group LP / Uniti Group Finance, Inc. / CSL Capital LLC | 100,000 | 96,250 | ||||||
8.25%, 10/15/23 | 494,000 | 467,912 | ||||||
|
| |||||||
4,050,447 | ||||||||
|
|
See Notes to Financial Statements. | 34 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Venture Capital — 0.8% | ||||||||
Icahn Enterprises LP / Icahn Enterprises Finance Corp. | $ | 100,000 | $ | 102,079 | ||||
6.25%, 2/01/22 | 850,000 | 875,415 | ||||||
6.75%, 2/01/24 | 250,000 | 259,063 | ||||||
|
| |||||||
1,236,557 | ||||||||
|
| |||||||
Industrial — 7.7% | ||||||||
Aerospace/Defense — 1.8% | ||||||||
Bombardier, Inc. | 150,000 | 151,125 | ||||||
6.125%, 1/15/23, 144A | 800,000 | 810,000 | ||||||
7.50%, 12/01/24, 144A | 560,000 | 590,100 | ||||||
7.50%, 3/15/25, 144A | 100,000 | 103,250 | ||||||
TransDigm, Inc. | 100,000 | 101,875 | ||||||
6.50%, 5/15/25 | 500,000 | 510,000 | ||||||
6.375%, 6/15/26 | 431,000 | 436,657 | ||||||
|
| |||||||
2,703,007 | ||||||||
|
| |||||||
Building Materials — 1.3% | ||||||||
Builders FirstSource, Inc., 144A | 300,000 | 292,500 | ||||||
Griffon Corp. | 305,000 | 302,042 | ||||||
Jeld-Wen, Inc. | 100,000 | 93,500 | ||||||
4.875%, 12/15/27, 144A | 100,000 | 93,500 | ||||||
Standard Industries, Inc. | 385,000 | 387,406 | ||||||
6.00%, 10/15/25, 144A | 425,000 | 436,764 | ||||||
5.00%, 2/15/27, 144A | 140,000 | 133,350 | ||||||
Standard Industries, Inc./NJ, 144A | 210,000 | 196,413 | ||||||
|
| |||||||
1,935,475 | ||||||||
|
| |||||||
Electronics — 0.1% | ||||||||
Itron, Inc., 144A | 150,000 | 143,355 | ||||||
|
| |||||||
Engineering & Construction — 0.7% | ||||||||
AECOM | 300,000 | 295,500 | ||||||
Brand Industrial Services, Inc., 144A | 341,000 | 351,656 | ||||||
Pisces Midco, Inc., 144A | 100,000 | 103,000 | ||||||
StandardAero Aviation Holdings, Inc., 144A | 200,000 | 216,000 | ||||||
|
| |||||||
966,156 | ||||||||
|
| |||||||
Environmental Control — 0.3% | ||||||||
Covanta Holding Corp. | 150,000 | 151,500 | ||||||
5.875%, 7/01/25 | 150,000 | 149,920 |
Principal | Value | |||||||
Environmental Control (Continued) | ||||||||
GFL Environmental, Inc., 144A | $ | 150,000 | $ | 142,875 | ||||
|
| |||||||
444,295 | ||||||||
|
| |||||||
Machinery-Construction & Mining — 0.4% | ||||||||
BlueLine Rental Finance Corp. / BlueLine Rental LLC, 144A | 300,000 | 315,750 | ||||||
Vertiv Group Corp., 144A | 250,000 | 258,125 | ||||||
|
| |||||||
573,875 | ||||||||
|
| |||||||
Machinery-Diversified — 0.1% | ||||||||
Cloud Crane LLC, 144A | 112,000 | 122,080 | ||||||
|
| |||||||
Metal Fabricate/Hardware — 0.5% | ||||||||
Novelis Corp. | 200,000 | 203,000 | ||||||
5.875%, 9/30/26, 144A | 570,000 | 556,491 | ||||||
|
| |||||||
759,491 | ||||||||
|
| |||||||
Packaging & Containers — 2.0% | ||||||||
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc. | 150,000 | 158,250 | ||||||
6.00%, 2/15/25, 144A | 650,000 | 637,000 | ||||||
Berry Global, Inc., 144A | 200,000 | 188,000 | ||||||
BWAY Holding Co. | 530,000 | 528,012 | ||||||
7.25%, 4/15/25, 144A | 250,000 | 244,375 | ||||||
Flex Acquisition Co., Inc. | 190,000 | 183,825 | ||||||
7.875%, 7/15/26, 144A | 150,000 | 150,562 | ||||||
Multi-Color Corp., 144A | 200,000 | 187,000 | ||||||
Owens-Brockway Glass Container, Inc., 144A | 350,000 | 360,063 | ||||||
Reynolds Group Issuer, Inc. / Reynolds Group Issuer LLC / Reynolds Group Issuer Luxembourg, 144A | 250,000 | 254,469 | ||||||
|
| |||||||
2,891,556 | ||||||||
|
| |||||||
Transportation — 0.1% | ||||||||
Hornbeck Offshore Services, Inc. | 100,000 | 72,500 | ||||||
Kenan Advantage Group, Inc., 144A | 150,000 | 154,688 | ||||||
|
| |||||||
227,188 | ||||||||
|
| |||||||
Trucking & Leasing — 0.4% | ||||||||
Park Aerospace Holdings Ltd. | 120,000 | 118,950 | ||||||
5.50%, 2/15/24, 144A | 500,000 | 515,000 | ||||||
|
| |||||||
633,950 | ||||||||
|
|
See Notes to Financial Statements. | 35 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Technology — 5.3% | ||||||||
Computers — 1.7% | ||||||||
Banff Merger Sub, Inc., 144A | $ | 450,000 | $ | 452,250 | ||||
Exela Intermediate LLC / Exela Finance, Inc., 144A | 270,000 | 284,175 | ||||||
Harland Clarke Holdings Corp. | 250,000 | 228,750 | ||||||
8.375%, 8/15/22, 144A | 300,000 | 282,750 | ||||||
NCR Corp. | 300,000 | 294,000 | ||||||
6.375%, 12/15/23 | 75,000 | 75,468 | ||||||
Sungard Availability Services Capital, Inc., 144A | 125,000 | 63,750 | ||||||
West Corp., 144A | 350,000 | 320,250 | ||||||
Western Digital Corp. | 550,000 | 540,268 | ||||||
|
| |||||||
2,541,661 | ||||||||
|
| |||||||
Office/Business Equipment — 0.6% | ||||||||
CDW LLC / CDW Finance Corp. | 350,000 | 349,563 | ||||||
Pitney Bowes, Inc. | 300,000 | 274,875 | ||||||
4.625%, 3/15/24 (a) | 200,000 | 180,340 | ||||||
|
| |||||||
804,778 | ||||||||
|
| |||||||
Semiconductors — 0.2% | ||||||||
Sensata Technologies BV, 144A | 220,000 | 220,550 | ||||||
STATS ChipPAC Pte Ltd., 144A | 100,000 | 101,500 | ||||||
|
| |||||||
322,050 | ||||||||
|
| |||||||
Software — 2.8% | ||||||||
CDK Global, Inc. | 200,000 | 197,500 | ||||||
Change Healthcare Holdings LLC / Change Healthcare Finance, Inc., 144A | 370,000 | 363,062 | ||||||
Infor US, Inc. | 706,000 | 718,687 | ||||||
Informatica LLC, 144A | 150,000 | 153,375 | ||||||
IQVIA, Inc., 144A | 400,000 | 396,500 | ||||||
MSCI, Inc., 144A | 300,000 | 309,000 | ||||||
Nuance Communications, Inc. | 300,000 | 300,375 | ||||||
Open Text Corp., 144A | 230,000 | 238,050 | ||||||
Rackspace Hosting, Inc., 144A | 390,000 | 384,881 |
Principal | Value | |||||||
Software (Continued) | ||||||||
Riverbed Technology, Inc., 144A | $ | 150,000 | $ | 139,313 | ||||
Solera LLC / Solera Finance, Inc., 144A | 500,000 | 551,250 | ||||||
Veritas US, Inc. / Veritas Bermuda Ltd., 144A | 400,000 | 346,000 | ||||||
|
| |||||||
4,097,993 | ||||||||
|
| |||||||
Utilities — 2.4% | ||||||||
Electric — 1.9% | ||||||||
Calpine Corp. | 300,000 | 286,125 | ||||||
5.50%, 2/01/24 | 100,000 | 92,173 | ||||||
5.75%, 1/15/25 | 550,000 | 501,875 | ||||||
5.25%, 6/01/26, 144A | 360,000 | 341,219 | ||||||
InterGen NV, 144A | 200,000 | 199,100 | ||||||
NRG Energy, Inc. | 300,000 | 324,000 | ||||||
6.625%, 1/15/27 | 300,000 | 315,375 | ||||||
5.75%, 1/15/28, 144A | 206,000 | 208,575 | ||||||
Talen Energy Supply LLC | 50,000 | 43,625 | ||||||
9.50%, 7/15/22, 144A | 100,000 | 97,000 | ||||||
10.50%, 1/15/26, 144A | 400,000 | 352,000 | ||||||
|
| |||||||
2,761,067 | ||||||||
|
| |||||||
Gas — 0.5% | ||||||||
AmeriGas Partners LP / AmeriGas Finance Corp. | 250,000 | 246,250 | ||||||
5.875%, 8/20/26 | 200,000 | 199,500 | ||||||
5.75%, 5/20/27 | 180,000 | 178,650 | ||||||
NGL Energy Partners LP / NGL Energy Finance Corp. | 200,000 | 205,250 | ||||||
|
| |||||||
829,650 | ||||||||
|
| |||||||
TOTAL CORPORATE BONDS | 143,951,342 | |||||||
|
| |||||||
Number | ||||||||
SECURITIES LENDING COLLATERAL — 5.2% |
| |||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 1.85% (b)(c) | 7,697,440 | 7,697,440 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 102.8% (Cost $154,249,201) | $ | 151,648,782 | ||||||
Other assets and liabilities, net — (2.8%) | (4,135,691 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 147,513,091 | ||||||
|
|
See Notes to Financial Statements. | 36 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF (Continued)
August 31, 2018
A summary of the Fund’s transactions with affiliated investments during the period ended August 31, 2018 is as follows:
Value ($) at | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 8/31/2018 | Value ($) at 8/31/2018 | ||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 5.2% |
| |||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 1.85% (b)(c) |
| |||||||||||||||||||||||||||||||
— | 7,697,440 | — | — | — | 101,727 | — | 7,697,440 | 7,697,440 |
(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, 2018 amounted to $7,549,624, which is 5.1% 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. Represents the net increase (purchases cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended August 31, 2018. In addition, the Fund held non-cash U.S. Treasury securities collateral having a value of $199,001. |
MTN: | Medium Term Note |
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, 2018 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 (d) | $ | — | $ | 143,951,342 | $ | — | $ | 143,951,342 | ||||||||
Short-Term Investments | 7,697,440 | — | — | 7,697,440 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 7,697,440 | $ | 143,951,342 | $ | — | $ | 151,648,782 | ||||||||
|
|
|
|
|
|
|
|
(d) | See Schedule of Investments for additional detailed categorizations. |
There have been no transfers between fair value measurement levels during the period ended August 31, 2018.
See Notes to Financial Statements. | 37 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF
August 31, 2018
Principal | Value | |||||||
CORPORATE BONDS — 97.4% | ||||||||
Basic Materials — 5.1% | ||||||||
Chemicals — 2.6% | ||||||||
Ashland LLC | $ | 350,000 | $ | 354,445 | ||||
Blue Cube Spinco LLC | 225,000 | 256,219 | ||||||
10.00%, 10/15/25 | 175,000 | 203,437 | ||||||
CF Industries, Inc. | 175,000 | 185,500 | ||||||
3.45%, 6/01/23 | 250,000 | 240,938 | ||||||
Chemours Co. | 419,000 | 439,426 | ||||||
7.00%, 5/15/25 | 250,000 | 268,125 | ||||||
Huntsman International LLC | 400,000 | 410,700 | ||||||
Momentive Performance Materials, Inc. | 350,000 | 374,500 | ||||||
Platform Specialty Products Corp., 144A | 300,000 | 307,875 | ||||||
PolyOne Corp. | 225,000 | 232,661 | ||||||
PQ Corp., 144A | 56,000 | 58,730 | ||||||
WR Grace & Co.-Conn, 144A | 300,000 | 309,000 | ||||||
|
| |||||||
3,641,556 | ||||||||
|
| |||||||
Iron/Steel — 0.5% | ||||||||
Steel Dynamics, Inc. | 300,000 | 304,575 | ||||||
5.25%, 4/15/23 | 410,000 | 417,811 | ||||||
|
| |||||||
722,386 | ||||||||
|
| |||||||
Mining — 2.0% | ||||||||
Alcoa Nederland Holding BV, 144A | 240,000 | 255,600 | ||||||
Freeport-McMoRan, Inc. | 300,000 | 298,245 | ||||||
4.00%, 11/14/21 | 250,000 | 248,673 | ||||||
3.55%, 3/01/22 | 650,000 | 628,875 | ||||||
6.875%, 2/15/23 | 250,000 | 268,125 | ||||||
3.875%, 3/15/23 | 530,000 | 510,787 | ||||||
Joseph T Ryerson & Son, Inc., 144A | 247,000 | 272,935 | ||||||
Teck Resources Ltd., 144A | 200,000 | 220,000 | ||||||
|
| |||||||
2,703,240 | ||||||||
|
| |||||||
Communications — 20.2% | ||||||||
Advertising — 0.9% | ||||||||
Lamar Media Corp. | 450,000 | 460,125 | ||||||
5.375%, 1/15/24 | 100,000 | 102,250 | ||||||
Outfront Media Capital LLC / Outfront Media Capital Corp. | 581,000 | 586,078 |
Principal | Value | |||||||
Advertising (Continued) | ||||||||
5.625%, 2/15/24 | $ | 150,000 | $ | 152,250 | ||||
|
| |||||||
1,300,703 | ||||||||
|
| |||||||
Internet — 2.3% | ||||||||
Match Group, Inc., 144A | 131,000 | 129,362 | ||||||
Netflix, Inc. | 190,000 | 196,412 | ||||||
5.50%, 2/15/22 | 250,000 | 259,062 | ||||||
5.75%, 3/01/24 | 375,000 | 384,844 | ||||||
5.875%, 2/15/25 | 250,000 | 258,750 | ||||||
4.375%, 11/15/26 (a) | 225,000 | 213,118 | ||||||
4.875%, 4/15/28, 144A | 400,000 | 379,500 | ||||||
Symantec Corp. | 150,000 | 151,349 | ||||||
3.95%, 6/15/22 | 125,000 | 121,539 | ||||||
VeriSign, Inc. | 20,000 | 20,384 | ||||||
5.25%, 4/01/25 | 150,000 | 152,820 | ||||||
4.75%, 7/15/27 | 325,000 | 314,438 | ||||||
Zayo Group LLC / Zayo Capital, Inc. | 500,000 | 517,835 | ||||||
|
| |||||||
3,099,413 | ||||||||
|
| |||||||
Media — 9.8% | ||||||||
Altice US Finance I Corp., 144A | 400,000 | 403,500 | ||||||
AMC Networks, Inc. | 425,000 | 419,156 | ||||||
4.75%, 8/01/25 | 180,000 | 174,150 | ||||||
Cable One, Inc., 144A | 100,000 | 102,000 | ||||||
Cablevision Systems Corp. | 150,000 | 158,250 | ||||||
CCO Holdings LLC / CCO Holdings Capital Corp. | 200,000 | 201,625 | ||||||
5.25%, 9/30/22 | 500,000 | 504,375 | ||||||
4.00%, 3/01/23, 144A | 30,000 | 28,687 | ||||||
5.125%, 5/01/23, 144A | 900,000 | 902,250 | ||||||
5.75%, 9/01/23 | 280,000 | 285,600 | ||||||
5.75%, 1/15/24 | 83,000 | 84,646 | ||||||
5.875%, 4/01/24, 144A | 500,000 | 511,250 | ||||||
5.75%, 2/15/26, 144A | 800,000 | 802,000 | ||||||
Cequel Communications Holdings I LLC / Cequel Capital Corp. | 300,000 | 301,500 | ||||||
5.125%, 12/15/21, 144A | 150,000 | 150,561 | ||||||
Clear Channel Worldwide Holdings, Inc. | 627,000 | 631,703 | ||||||
Series B, 6.50%, 11/15/22 | 650,000 | 667,875 | ||||||
CSC Holdings LLC | 393,000 | 417,562 | ||||||
10.125%, 1/15/23, 144A | 400,000 | 439,000 | ||||||
6.625%, 10/15/25, 144A | 290,000 | 301,963 | ||||||
10.875%, 10/15/25, 144A | 580,000 | 676,425 |
See Notes to Financial Statements. | 38 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Media (Continued) | ||||||||
DISH DBS Corp. | $ | 350,000 | $ | 362,687 | ||||
5.125%, 5/01/20 | 500,000 | 504,375 | ||||||
Quebecor Media, Inc. | 400,000 | 416,000 | ||||||
Sinclair Television Group, Inc. | 450,000 | 452,813 | ||||||
Sirius XM Radio, Inc. | 350,000 | 345,170 | ||||||
6.00%, 7/15/24, 144A | 300,000 | 312,480 | ||||||
5.375%, 4/15/25, 144A | 234,000 | 238,095 | ||||||
5.375%, 7/15/26, 144A | 400,000 | 400,000 | ||||||
TEGNA, Inc. | 445,000 | 462,800 | ||||||
Tribune Media Co. | 450,000 | 459,000 | ||||||
Unitymedia GmbH, 144A | 400,000 | 420,000 | ||||||
Unitymedia Hessen GmbH & Co. KG / Unitymedia NRW GmbH, 144A | 50,000 | 51,063 | ||||||
Videotron Ltd. | 205,000 | 209,356 | ||||||
5.375%, 6/15/24, 144A | 300,000 | 309,375 | ||||||
Virgin Media Secured Finance PLC | 200,000 | 205,500 | ||||||
5.50%, 1/15/25, 144A | 200,000 | 197,750 | ||||||
|
| |||||||
13,510,542 | ||||||||
|
| |||||||
Telecommunications — 7.2% | ||||||||
CenturyLink, Inc. | 50,000 | 51,250 | ||||||
Series S, 6.45%, 6/15/21 | 500,000 | 522,500 | ||||||
CommScope, Inc., 144A | 200,000 | 201,750 | ||||||
Hughes Satellite Systems Corp. | 250,000 | 270,000 | ||||||
Inmarsat Finance PLC, 144A | 350,000 | 352,625 | ||||||
Intelsat Jackson Holdings SA | 250,000 | 291,250 | ||||||
8.00%, 2/15/24, 144A | 350,000 | 369,250 | ||||||
Level 3 Financing, Inc. | 216,000 | 217,553 | ||||||
5.375%, 8/15/22 | 600,000 | 607,500 | ||||||
5.625%, 2/01/23 | 100,000 | 101,471 | ||||||
5.125%, 5/01/23 | 280,000 | 280,445 | ||||||
Level 3 Parent LLC | 200,000 | 202,000 | ||||||
Nokia OYJ | 175,000 | 171,479 | ||||||
Qwest Corp. | 225,000 | 241,604 | ||||||
Sable International Finance Ltd., 144A | 100,000 | 104,375 | ||||||
Sprint Communications, Inc. | 300,000 | 312,375 | ||||||
7.00%, 8/15/20 | 475,000 | 498,750 |
Principal | Value | |||||||
Telecommunications (Continued) | ||||||||
Telecom Italia SpA, 144A | $ | 500,000 | $ | 500,625 | ||||
Telefonaktiebolaget LM Ericsson | 200,000 | 198,042 | ||||||
T-Mobile USA, Inc. | 400,000 | 412,680 | ||||||
6.50%, 1/15/24 | 350,000 | 363,125 | ||||||
6.00%, 4/15/24 | 350,000 | 364,000 | ||||||
6.375%, 3/01/25 | 310,000 | 323,175 | ||||||
5.125%, 4/15/25 | 500,000 | 505,230 | ||||||
6.50%, 1/15/26 | 575,000 | 609,322 | ||||||
4.50%, 2/01/26 | 150,000 | 143,250 | ||||||
5.375%, 4/15/27 | 325,000 | 327,502 | ||||||
4.75%, 2/01/28 | 450,000 | 424,373 | ||||||
VEON Holdings BV | 500,000 | 482,705 | ||||||
7.504%, 3/01/22, 144A | 200,000 | 213,598 | ||||||
5.95%, 2/13/23, 144A | 200,000 | 200,440 | ||||||
|
| |||||||
9,864,244 | ||||||||
|
| |||||||
Consumer, Cyclical — 13.0% | ||||||||
Airlines — 0.5% | ||||||||
Air Canada, 144A | 150,000 | 162,000 | ||||||
American Airlines Group, Inc. | 20,000 | 20,350 | ||||||
4.625%, 3/01/20, 144A | 300,000 | 302,925 | ||||||
United Continental Holdings, Inc. | 220,000 | 216,425 | ||||||
|
| |||||||
701,700 | ||||||||
|
| |||||||
Apparel — 0.3% | ||||||||
Hanesbrands, Inc., 144A | 250,000 | 245,000 | ||||||
Levi Strauss & Co. | 200,000 | 202,000 | ||||||
|
| |||||||
447,000 | ||||||||
|
| |||||||
Auto Manufacturers — 1.1% | ||||||||
Allison Transmission, Inc., 144A | 350,000 | 345,625 | ||||||
Fiat Chrysler Automobiles NV | 900,000 | 907,875 | ||||||
5.25%, 4/15/23 (a) | 100,000 | 101,875 | ||||||
Jaguar Land Rover Automotive PLC, 144A | 200,000 | 200,000 | ||||||
|
| |||||||
1,555,375 | ||||||||
|
| |||||||
Auto Parts & Equipment — 0.6% | ||||||||
American Axle & Manufacturing, Inc. | 164,000 | 168,305 | ||||||
Dana, Inc. | 225,000 | 224,156 | ||||||
Goodyear Tire & Rubber Co. | 472,000 | 472,000 | ||||||
|
| |||||||
864,461 | ||||||||
|
|
See Notes to Financial Statements. | 39 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Distribution/Wholesale — 0.4% | ||||||||
HD Supply, Inc., 144A | $ | 370,000 | $ | 389,888 | ||||
LKQ Corp. | 100,000 | 100,750 | ||||||
|
| |||||||
490,638 | ||||||||
|
| |||||||
Entertainment — 1.3% | ||||||||
Cinemark USA, Inc. | 75,000 | 75,750 | ||||||
4.875%, 6/01/23 | 200,000 | 198,500 | ||||||
International Game Technology PLC | 250,000 | 255,625 | ||||||
6.25%, 2/15/22, 144A | 450,000 | 466,650 | ||||||
Live Nation Entertainment, Inc., 144A | 170,000 | 167,663 | ||||||
Scientific Games International, Inc. | 550,000 | 583,742 | ||||||
|
| |||||||
1,747,930 | ||||||||
|
| |||||||
Food Service — 0.5% | ||||||||
Aramark Services, Inc. | 391,000 | 398,034 | ||||||
4.75%, 6/01/26 | 300,000 | 296,250 | ||||||
|
| |||||||
694,284 | ||||||||
|
| |||||||
Home Builders — 1.9% | ||||||||
Beazer Homes USA, Inc. | 700,000 | 741,783 | ||||||
Brookfield Residential Properties, Inc., 144A | 80,000 | 80,680 | ||||||
KB Home | 200,000 | 211,500 | ||||||
Lennar Corp. | 50,000 | 50,500 | ||||||
4.75%, 4/01/21 (a) | 105,000 | 106,706 | ||||||
4.125%, 1/15/22 | 100,000 | 99,750 | ||||||
4.875%, 12/15/23 | 600,000 | 603,000 | ||||||
4.50%, 4/30/24 | 100,000 | 98,405 | ||||||
5.875%, 11/15/24 | 150,000 | 156,390 | ||||||
4.75%, 5/30/25 | 70,000 | 69,125 | ||||||
PulteGroup, Inc. | 270,000 | 272,106 | ||||||
Taylor Morrison Communities, Inc. / Taylor Morrison Holdings II, Inc., 144A | 30,000 | 30,075 | ||||||
Toll Brothers Finance Corp. | 150,000 | 156,938 | ||||||
|
| |||||||
2,676,958 | ||||||||
|
| |||||||
Housewares — 0.1% | ||||||||
Scotts Miracle-Gro Co. | 150,000 | 153,000 | ||||||
|
| |||||||
Leisure Time — 0.2% | ||||||||
NCL Corp. Ltd., 144A | 204,000 | 205,785 | ||||||
|
|
Principal | Value | |||||||
Lodging — 3.2% | ||||||||
Boyd Gaming Corp. | $ | 250,000 | $ | 263,750 | ||||
Hilton Domestic Operating Co., Inc. | 30,000 | 29,250 | ||||||
5.125%, 5/01/26, 144A | 550,000 | 553,437 | ||||||
Hilton Worldwide Finance LLC / Hilton Worldwide Finance Corp. | 280,000 | 277,200 | ||||||
4.875%, 4/01/27 | 350,000 | 345,188 | ||||||
Jack Ohio Finance LLC / Jack Ohio Finance 1 Corp., 144A | 200,000 | 207,500 | ||||||
MGM Resorts International | 200,000 | 204,500 | ||||||
6.75%, 10/01/20 | 383,000 | 403,586 | ||||||
6.625%, 12/15/21 | 650,000 | 689,000 | ||||||
7.75%, 3/15/22 | 225,000 | 247,781 | ||||||
6.00%, 3/15/23 | 250,000 | 260,163 | ||||||
Studio City Finance Ltd., 144A | 250,000 | 253,375 | ||||||
Wyndham Destinations, Inc. | 300,000 | 290,232 | ||||||
4.50%, 4/01/27 | 150,000 | 144,045 | ||||||
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp., 144A | 180,000 | 173,250 | ||||||
|
| |||||||
4,342,257 | ||||||||
|
| |||||||
Retail — 2.9% | ||||||||
1011778 BC ULC / New Red Finance, Inc. 4.625%, 1/15/22, 144A | 480,000 | 481,200 | ||||||
4.25%, 5/15/24, 144A | 400,000 | 383,000 | ||||||
Group 1 Automotive, Inc. | 175,000 | 174,125 | ||||||
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC | 300,000 | 300,000 | ||||||
5.25%, 6/01/26, 144A | 400,000 | 401,000 | ||||||
L Brands, Inc. | 200,000 | 203,250 | ||||||
5.625%, 10/15/23 (a) | 150,000 | 150,750 | ||||||
6.694%, 1/15/27, 144A | 200,000 | 189,500 | ||||||
Michaels Stores, Inc., 144A | 283,000 | 284,415 | ||||||
Penske Automotive Group, Inc. | 150,000 | 153,094 | ||||||
QVC, Inc. | 150,000 | 153,174 | ||||||
4.375%, 3/15/23 | 150,000 | 148,508 | ||||||
4.85%, 4/01/24 | 55,000 | 55,070 | ||||||
4.45%, 2/15/25 | 450,000 | 432,713 | ||||||
Rite Aid Corp., 144A | 518,000 | 467,339 | ||||||
|
| |||||||
3,977,138 | ||||||||
|
|
See Notes to Financial Statements. | 40 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Consumer, Non-cyclical — 18.5% | ||||||||
Commercial Services — 2.4% | ||||||||
ADT Corp. | $ | 45,000 | $ | 47,700 | ||||
3.50%, 7/15/22 | 535,000 | 508,250 | ||||||
Herc Rentals, Inc., 144A | 197,000 | 207,096 | ||||||
Nielsen Co. Luxembourg SARL, 144A | 350,000 | 351,312 | ||||||
Service Corp. International | 68,000 | 69,171 | ||||||
5.375%, 5/15/24 | 175,000 | 179,156 | ||||||
4.625%, 12/15/27 | 220,000 | 211,750 | ||||||
United Rentals North America, Inc. | 650,000 | 659,425 | ||||||
5.75%, 11/15/24 | 100,000 | 103,595 | ||||||
5.50%, 7/15/25 | 268,000 | 274,365 | ||||||
4.625%, 10/15/25 | 500,000 | 490,000 | ||||||
WEX, Inc., 144A | 150,000 | 150,938 | ||||||
|
| |||||||
3,252,758 | ||||||||
|
| |||||||
Cosmetics/Personal Care — 0.3% | ||||||||
Edgewell Personal Care Co. | 310,000 | 309,318 | ||||||
First Quality Finance Co., Inc., 144A | 116,000 | 115,130 | ||||||
|
| |||||||
424,448 | ||||||||
|
| |||||||
Food — 1.2% | ||||||||
B&G Foods, Inc. | 200,000 | 199,500 | ||||||
Darling Ingredients, Inc. | 330,000 | 334,537 | ||||||
Lamb Weston Holdings, Inc. | 225,000 | 222,187 | ||||||
4.875%, 11/01/26, 144A | 285,000 | 281,438 | ||||||
TreeHouse Foods, Inc. | 410,000 | 411,538 | ||||||
6.00%, 2/15/24, 144A (a) | 75,000 | 76,219 | ||||||
US Foods, Inc., 144A | 180,000 | 182,250 | ||||||
|
| |||||||
1,707,669 | ||||||||
|
| |||||||
Healthcare-Products — 0.6% | ||||||||
Hill-Rom Holdings, Inc., 144A | 150,000 | 155,250 | ||||||
Hologic, Inc., 144A | 400,000 | 387,000 | ||||||
Teleflex, Inc. | 300,000 | 297,000 | ||||||
|
| |||||||
839,250 | ||||||||
|
| |||||||
Healthcare-Services — 12.2% | ||||||||
Acadia Healthcare Co., Inc. | 300,000 | 307,500 | ||||||
Catalent Pharma Solutions, Inc., 144A | 150,000 | 143,812 |
Principal | Value | |||||||
Healthcare-Services (Continued) | ||||||||
Centene Corp. | $ | 470,000 | $ | 480,575 | ||||
4.75%, 5/15/22 | 225,000 | 230,062 | ||||||
6.125%, 2/15/24 | 500,000 | 526,875 | ||||||
4.75%, 1/15/25 | 395,000 | 397,962 | ||||||
Centene Corp., 144A | 550,000 | 569,156 | ||||||
Charles River Laboratories International, Inc., 144A | 150,000 | 152,625 | ||||||
DaVita, Inc. | 400,000 | 406,500 | ||||||
5.125%, 7/15/24 | 550,000 | 533,016 | ||||||
Encompass Health Corp. | 376,000 | 382,110 | ||||||
Envision Healthcare Corp. | 250,000 | 255,000 | ||||||
5.625%, 7/15/22 | 305,000 | 314,150 | ||||||
6.25%, 12/01/24, 144A | 280,000 | 300,300 | ||||||
HCA Healthcare, Inc. | 413,000 | 432,618 | ||||||
HCA, Inc. | 950,000 | 988,475 | ||||||
7.50%, 2/15/22 | 905,000 | 995,500 | ||||||
5.875%, 3/15/22 | 600,000 | 639,000 | ||||||
4.75%, 5/01/23 | 525,000 | 534,844 | ||||||
5.875%, 5/01/23 | 350,000 | 368,375 | ||||||
5.00%, 3/15/24 | 500,000 | 512,500 | ||||||
5.375%, 2/01/25 | 875,000 | 887,189 | ||||||
5.25%, 4/15/25 | 300,000 | 310,125 | ||||||
5.875%, 2/15/26 | 350,000 | 362,688 | ||||||
5.25%, 6/15/26 | 550,000 | 567,875 | ||||||
5.375%, 9/01/26 | 350,000 | 352,625 | ||||||
4.50%, 2/15/27 | 400,000 | 397,000 | ||||||
LifePoint Health, Inc. | 320,000 | 326,400 | ||||||
5.875%, 12/01/23 | 200,000 | 210,302 | ||||||
5.375%, 5/01/24 | 210,000 | 218,925 | ||||||
MEDNAX, Inc., 144A | 200,000 | 200,000 | ||||||
Molina Healthcare, Inc. | 200,000 | 205,000 | ||||||
Select Medical Corp. | 400,000 | 405,500 | ||||||
Tenet Healthcare Corp. | 150,000 | 156,375 | ||||||
4.50%, 4/01/21 | 550,000 | 552,063 | ||||||
4.375%, 10/01/21 | 490,000 | 491,225 | ||||||
7.50%, 1/01/22, 144A | 520,000 | 546,489 | ||||||
4.625%, 7/15/24 | 500,000 | 491,015 | ||||||
WellCare Health Plans, Inc. | 400,000 | 410,000 | ||||||
5.375%, 8/15/26, 144A | 250,000 | 258,125 | ||||||
|
| |||||||
16,819,876 | ||||||||
|
|
See Notes to Financial Statements. | 41 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Household Products/Wares — 0.6% | ||||||||
Prestige Brands, Inc., 144A | $ | 200,000 | $ | 201,000 | ||||
Spectrum Brands, Inc. | 200,000 | 206,250 | ||||||
5.75%, 7/15/25 | 379,000 | 384,685 | ||||||
|
| |||||||
791,935 | ||||||||
|
| |||||||
Pharmaceuticals — 1.2% | ||||||||
Bausch Health Cos., Inc., 144A | 210,000 | 217,875 | ||||||
Elanco Animal Health, Inc. | 350,000 | 352,261 | ||||||
4.90%, 8/28/28, 144A | 250,000 | 252,215 | ||||||
Bausch Health Cos., Inc., 144A | 750,000 | 794,062 | ||||||
|
| |||||||
1,616,413 | ||||||||
|
| |||||||
Energy — 14.7% | ||||||||
Coal — 0.1% | ||||||||
Peabody Energy Corp. | 25,000 | 25,187 | ||||||
6.375%, 3/31/25, 144A (a) | 170,000 | 172,975 | ||||||
|
| |||||||
198,162 | ||||||||
|
| |||||||
Energy-Alternate Sources — 0.4% | ||||||||
TerraForm Power Operating LLC | 450,000 | 439,875 | ||||||
5.00%, 1/31/28, 144A | 100,000 | 94,000 | ||||||
|
| |||||||
533,875 | ||||||||
|
| |||||||
Oil & Gas — 8.2% | ||||||||
Aker BP ASA | 100,000 | 103,187 | ||||||
5.875%, 3/31/25, 144A | 150,000 | 156,187 | ||||||
Antero Resources Corp. | 725,000 | 739,500 | ||||||
5.625%, 6/01/23 | 40,000 | 41,362 | ||||||
5.00%, 3/01/25 (a) | 425,000 | 430,312 | ||||||
Carrizo Oil & Gas, Inc. | 225,000 | 231,187 | ||||||
Chesapeake Energy Corp. | 200,000 | 208,500 | ||||||
8.00%, 12/15/22, 144A | 330,000 | 347,325 | ||||||
CNX Resources Corp. | 400,000 | 400,980 | ||||||
Continental Resources, Inc. | 600,000 | 614,471 | ||||||
3.80%, 6/01/24 | 150,000 | 147,912 | ||||||
4.375%, 1/15/28 | 410,000 | 408,184 | ||||||
Diamondback Energy, Inc. | 300,000 | 307,875 | ||||||
Endeavor Energy Resources LP / EER Finance, Inc., 144A | 150,000 | 150,375 | ||||||
Hilcorp Energy I LP / Hilcorp Finance Co., 144A | 150,000 | 145,687 |
Principal | Value | |||||||
Oil & Gas (Continued) | ||||||||
Murphy Oil Corp. | $ | 100,000 | $ | 98,887 | ||||
4.45%, 12/01/22 | 250,000 | 250,155 | ||||||
6.875%, 8/15/24 | 150,000 | 158,869 | ||||||
5.75%, 8/15/25 | 190,000 | 190,903 | ||||||
Nabors Industries, Inc. | 300,000 | 302,593 | ||||||
4.625%, 9/15/21 | 200,000 | 199,702 | ||||||
Newfield Exploration Co. | 500,000 | 535,625 | ||||||
5.375%, 1/01/26 | 195,000 | 204,263 | ||||||
Oasis Petroleum, Inc. | 237,000 | 241,740 | ||||||
Parsley Energy LLC / Parsley Finance Corp. | 150,000 | 156,750 | ||||||
5.375%, 1/15/25, 144A | 250,000 | 253,100 | ||||||
5.25%, 8/15/25, 144A | 350,000 | 349,125 | ||||||
PDC Energy, Inc. | 120,000 | 120,000 | ||||||
QEP Resources, Inc. | 200,000 | 202,060 | ||||||
5.25%, 5/01/23 | 200,000 | 196,000 | ||||||
Range Resources Corp. | 150,000 | 154,125 | ||||||
5.00%, 3/15/23 | 402,000 | 395,287 | ||||||
Sable Permian Resources Land LLC / AEPB Finance Corp., 144A | 150,000 | 166,500 | ||||||
Seven Generations Energy Ltd. | 200,000 | 207,500 | ||||||
6.875%, 6/30/23, 144A | 200,000 | 209,000 | ||||||
5.375%, 9/30/25, 144A | 200,000 | 194,500 | ||||||
SM Energy Co. | 150,000 | 155,063 | ||||||
Southwestern Energy Co. | 250,000 | 245,000 | ||||||
Sunoco LP / Sunoco Finance Corp., 144A | 350,000 | 346,164 | ||||||
Whiting Petroleum Corp. | 225,000 | 231,188 | ||||||
6.25%, 4/01/23 | 150,000 | 154,875 | ||||||
WPX Energy, Inc. | 389,000 | 403,588 | ||||||
5.25%, 9/15/24 | 300,000 | 303,750 | ||||||
5.75%, 6/01/26 | 200,000 | 202,500 | ||||||
|
| |||||||
11,261,856 | ||||||||
|
| |||||||
Oil & Gas Services — 0.2% | ||||||||
SESI LLC | 320,000 | 325,200 | ||||||
|
| |||||||
Pipelines — 5.8% | ||||||||
Blue Racer Midstream LLC / Blue Racer Finance Corp., 144A | 150,000 | 153,747 | ||||||
Cheniere Corpus Christi Holdings LLC | 200,000 | 222,000 | ||||||
5.875%, 3/31/25 | 100,000 | 106,625 | ||||||
5.125%, 6/30/27 | 875,000 | 893,594 |
See Notes to Financial Statements. | 42 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Pipelines (Continued) | ||||||||
Cheniere Energy Partners LP | $ | 500,000 | $ | 501,250 | ||||
Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp. | 90,000 | 93,262 | ||||||
5.75%, 4/01/25 | 250,000 | 256,250 | ||||||
DCP Midstream Operating LP | 300,000 | 305,250 | ||||||
3.875%, 3/15/23 | 150,000 | 146,625 | ||||||
5.375%, 7/15/25 | 150,000 | 154,125 | ||||||
Energy Transfer Equity LP | 325,000 | 350,594 | ||||||
4.25%, 3/15/23 | 150,000 | 150,795 | ||||||
5.875%, 1/15/24 | 250,000 | 266,250 | ||||||
5.50%, 6/01/27 | 550,000 | 578,187 | ||||||
EnLink Midstream Partners LP | 250,000 | 244,037 | ||||||
4.85%, 7/15/26 | 300,000 | 291,913 | ||||||
Genesis Energy LP / Genesis Energy Finance Corp. | 350,000 | 358,750 | ||||||
NGPL PipeCo LLC, 144A | 350,000 | 354,021 | ||||||
NuStar Logistics LP | 220,000 | 222,475 | ||||||
Rockies Express Pipeline LLC, 144A | 250,000 | 259,063 | ||||||
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp., 144A | 350,000 | 354,375 | ||||||
Targa Resources Partners LP / Targa Resources Partners Finance Corp. | 250,000 | 250,825 | ||||||
5.25%, 5/01/23 | 350,000 | 355,250 | ||||||
6.75%, 3/15/24 | 295,000 | 310,488 | ||||||
5.875%, 4/15/26, 144A | 250,000 | 256,563 | ||||||
5.375%, 2/01/27 | 350,000 | 349,125 | ||||||
5.00%, 1/15/28, 144A | 145,000 | 141,194 | ||||||
|
| |||||||
7,926,633 | ||||||||
|
| |||||||
Financial — 7.0% | ||||||||
Banks — 0.9% | ||||||||
CIT Group, Inc. | 250,000 | 251,562 | ||||||
5.00%, 8/15/22 | 325,000 | 332,312 | ||||||
5.00%, 8/01/23 | 361,000 | 367,769 | ||||||
4.75%, 2/16/24 | 200,000 | 200,750 | ||||||
5.25%, 3/07/25 | 100,000 | 101,938 | ||||||
|
| |||||||
1,254,331 | ||||||||
|
| |||||||
Diversified Financial Services — 2.9% | ||||||||
Ally Financial, Inc. | 300,000 | 301,875 | ||||||
7.50%, 9/15/20 | 500,000 | 535,000 | ||||||
5.125%, 9/30/24 | 350,000 | 358,750 | ||||||
4.625%, 3/30/25 | 350,000 | 350,875 |
Principal | Value | |||||||
Diversified Financial Services (Continued) | ||||||||
Jefferies Finance LLC / JFIN Co-Issuer Corp., 144A | $ | 150,000 | $ | 153,375 | ||||
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., 144A | 200,000 | 201,250 | ||||||
Lions Gate Capital Holdings LLC, 144A | 200,000 | 207,250 | ||||||
Navient Corp. | 341,000 | 362,398 | ||||||
5.00%, 10/26/20 | 300,000 | 301,563 | ||||||
5.875%, 3/25/21 | 200,000 | 205,310 | ||||||
Springleaf Finance Corp. | 300,000 | 304,875 | ||||||
8.25%, 12/15/20 | 275,000 | 298,031 | ||||||
7.75%, 10/01/21 | 200,000 | 216,750 | ||||||
Vantiv LLC / Vanitv Issuer Corp., 144A | 120,000 | 114,750 | ||||||
|
| |||||||
3,912,052 | ||||||||
|
| |||||||
Insurance — 0.1% | ||||||||
Radian Group, Inc. | 150,000 | 148,500 | ||||||
|
| |||||||
Real Estate — 0.1% | ||||||||
Realogy Group LLC / Realogy Co.-Issuer Corp., 144A | 150,000 | 150,188 | ||||||
|
| |||||||
Real Estate Investment Trusts — 2.6% | ||||||||
CyrusOne LP / CyrusOne Finance Corp. | 200,000 | 203,000 | ||||||
Equinix, Inc. | 620,000 | 640,026 | ||||||
5.75%, 1/01/25 | 325,000 | 336,375 | ||||||
5.875%, 1/15/26 | 250,000 | 260,000 | ||||||
Iron Mountain, Inc., 144A | 550,000 | 552,750 | ||||||
iStar, Inc. | 150,000 | 149,625 | ||||||
MGM Growth Properties Operating Partnership LP / MGP Finance Co-Issuer, Inc. | 335,000 | 345,887 | ||||||
MPT Operating Partnership LP / MPT Finance Corp. | 150,000 | 158,895 | ||||||
SBA Communications Corp. | 450,000 | 442,233 | ||||||
Starwood Property Trust, Inc. | 150,000 | 146,625 | ||||||
5.00%, 12/15/21 | 300,000 | 303,000 | ||||||
|
| |||||||
3,538,416 | ||||||||
|
| |||||||
Venture Capital — 0.4% | ||||||||
Icahn Enterprises LP / Icahn Enterprises Finance Corp. | 578,000 | 588,664 | ||||||
|
|
See Notes to Financial Statements. | 43 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Industrial — 8.3% | ||||||||
Aerospace/Defense — 2.2% | ||||||||
Arconic, Inc. | $ | 250,000 | $ | 260,937 | ||||
5.40%, 4/15/21 | 300,000 | 309,123 | ||||||
5.87%, 2/23/22 | 450,000 | 470,070 | ||||||
5.125%, 10/01/24 | 300,000 | 302,288 | ||||||
Bombardier, Inc. | 400,000 | 421,500 | ||||||
8.75%, 12/01/21, 144A | 400,000 | 442,000 | ||||||
KLX, Inc., 144A | 200,000 | 207,500 | ||||||
TransDigm, Inc. | 275,000 | 276,031 | ||||||
6.00%, 7/15/22 | 400,000 | 405,000 | ||||||
|
| |||||||
3,094,449 | ||||||||
|
| |||||||
Building Materials — 0.4% | ||||||||
Standard Industries, Inc., 144A | 150,000 | 153,795 | ||||||
Summit Materials LLC / Summit Materials Finance Corp. | 176,000 | 179,300 | ||||||
USG Corp., 144A | 175,000 | 177,574 | ||||||
|
| |||||||
510,669 | ||||||||
|
| |||||||
Electrical Components & Equipment — 0.2% | ||||||||
Energizer Holdings, Inc., 144A | 250,000 | 250,000 | ||||||
|
| |||||||
Engineering & Construction — 0.3% | ||||||||
AECOM | 335,000 | 359,251 | ||||||
MasTec, Inc. | 125,000 | 123,437 | ||||||
|
| |||||||
482,688 | ||||||||
|
| |||||||
Environmental Control — 0.3% | ||||||||
Clean Harbors, Inc. | 300,000 | 301,500 | ||||||
Covanta Holding Corp. | 150,000 | 153,000 | ||||||
|
| |||||||
454,500 | ||||||||
|
| |||||||
Machinery-Diversified — 0.1% | ||||||||
Welbilt, Inc. | 150,000 | 165,000 | ||||||
|
| |||||||
Packaging & Containers — 4.0% | ||||||||
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc. | 250,000 | 247,187 | ||||||
4.625%, 5/15/23, 144A | 300,000 | 298,125 | ||||||
Ball Corp. | 814,000 | 827,227 | ||||||
5.00%, 3/15/22 | 200,000 | 207,250 | ||||||
4.00%, 11/15/23 | 100,000 | 98,125 | ||||||
5.25%, 7/01/25 | 550,000 | 569,250 |
Principal | Value | |||||||
Packaging & Containers (Continued) | ||||||||
Berry Global, Inc. | $ | 175,000 | $ | 178,500 | ||||
5.125%, 7/15/23 | 350,000 | 349,562 | ||||||
Crown Americas LLC / Crown Americas Capital Corp. IV | 305,000 | 305,763 | ||||||
Graphic Packaging International LLC | 200,000 | 203,122 | ||||||
Owens-Brockway Glass Container, Inc., 144A | 170,000 | 171,063 | ||||||
Reynolds Group Issuer, Inc. / Reynolds Group Issuer LLC / Reynolds Group Issuer Lu | 920,652 | 922,954 | ||||||
5.125%, 7/15/23, 144A | 575,000 | 573,563 | ||||||
Sealed Air Corp. | 225,000 | 228,938 | ||||||
5.50%, 9/15/25, 144A | 300,000 | 305,250 | ||||||
|
| |||||||
5,485,879 | ||||||||
|
| |||||||
Transportation — 0.4% | ||||||||
XPO Logistics, Inc. | 374,000 | 387,733 | ||||||
6.125%, 9/01/23, 144A | 150,000 | 155,063 | ||||||
|
| |||||||
542,796 | ||||||||
|
| |||||||
Trucking & Leasing — 0.4% | ||||||||
Park Aerospace Holdings Ltd., 144A | 500,000 | 511,250 | ||||||
|
| |||||||
Technology — 7.4% | ||||||||
Computers — 1.9% | ||||||||
Dell International LLC / EMC Corp. | 680,000 | 701,362 | ||||||
7.125%, 6/15/24, 144A | 548,000 | 585,950 | ||||||
Dell, Inc. | 100,000 | 102,000 | ||||||
EMC Corp. | 435,000 | 425,573 | ||||||
3.375%, 6/01/23 | 350,000 | 330,743 | ||||||
Leidos Holdings, Inc. | 200,000 | 204,060 | ||||||
NCR Corp. | 200,000 | 197,000 | ||||||
|
| |||||||
2,546,688 | ||||||||
|
| |||||||
Office/Business Equipment — 0.3% | ||||||||
CDW LLC / CDW Finance Corp. | 150,000 | 153,375 | ||||||
5.50%, 12/01/24 | 200,000 | 209,000 | ||||||
|
| |||||||
362,375 | ||||||||
|
| |||||||
Semiconductors — 1.3% | ||||||||
Amkor Technology, Inc. | 150,000 | 153,000 | ||||||
Micron Technology, Inc. | 206,000 | 214,219 |
See Notes to Financial Statements. | 44 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Semiconductors (Continued) | ||||||||
NXP BV / NXP Funding LLC | $ | 105,000 | $ | 106,181 | ||||
4.125%, 6/01/21, 144A | 100,000 | 100,375 | ||||||
3.875%, 9/01/22, 144A | 900,000 | 894,375 | ||||||
4.625%, 6/01/23, 144A | 125,000 | 127,187 | ||||||
Sensata Technologies BV, 144A | 250,000 | 250,938 | ||||||
|
| |||||||
1,846,275 | ||||||||
|
| |||||||
Software — 3.9% | ||||||||
BMC Software Finance, Inc., 144A | 500,000 | 511,730 | ||||||
CDK Global, Inc. | 180,000 | 184,950 | ||||||
First Data Corp. | 565,000 | 576,385 | ||||||
7.00%, 12/01/23, 144A | 775,000 | 808,325 | ||||||
5.00%, 1/15/24, 144A | 646,000 | 649,747 | ||||||
5.75%, 1/15/24, 144A | 700,000 | 716,625 | ||||||
Infor US, Inc., 144A | 200,000 | 203,250 | ||||||
IQVIA, Inc., 144A | 250,000 | 251,875 | ||||||
MSCI, Inc., 144A | 500,000 | 516,250 | ||||||
Nuance Communications, Inc., 144A | 250,000 | 250,156 | ||||||
Open Text Corp., 144A | 270,000 | 280,125 | ||||||
TIBCO Software, Inc., 144A | 400,000 | 428,500 | ||||||
|
| |||||||
5,377,918 | ||||||||
|
| |||||||
Utilities — 3.2% | ||||||||
Electric — 3.0% | ||||||||
AES Corp. | 100,000 | 100,520 | ||||||
4.50%, 3/15/23 | 50,000 | 50,188 | ||||||
4.875%, 5/15/23 | 410,000 | 417,175 | ||||||
5.50%, 4/15/25 | 185,000 | 191,012 | ||||||
6.00%, 5/15/26 | 425,000 | 451,562 | ||||||
5.125%, 9/01/27 | 100,000 | 101,250 |
Principal | Value | |||||||
Electric (Continued) | ||||||||
Calpine Corp. | $ | 250,000 | $ | 255,312 | ||||
5.875%, 1/15/24, 144A | 200,000 | 202,250 | ||||||
DPL, Inc. | 34,000 | 36,932 | ||||||
NextEra Energy Operating Partners LP | 300,000 | 293,250 | ||||||
4.50%, 9/15/27, 144A | 50,000 | 47,688 | ||||||
NRG Energy, Inc. | 350,000 | 364,000 | ||||||
NRG Yield Operating LLC | 170,000 | 171,700 | ||||||
Vistra Energy Corp. | 505,000 | 527,094 | ||||||
5.875%, 6/01/23 | 200,000 | 206,750 | ||||||
7.625%, 11/01/24 | 342,000 | 369,360 | ||||||
Vistra Operations Co. LLC, 144A | 375,000 | 380,513 | ||||||
|
| |||||||
4,166,556 | ||||||||
|
| |||||||
Gas — 0.2% | ||||||||
AmeriGas Partners LP / AmeriGas Finance Corp. | 225,000 | 224,438 | ||||||
|
| |||||||
TOTAL CORPORATE BONDS | 134,010,317 | |||||||
|
| |||||||
Number |
| |||||||
SECURITIES LENDING COLLATERAL — 2.2% |
| |||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 1.85% (b)(c) | 2,990,054 | 2,990,054 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 99.6% (Cost $138,472,219) | $ | 137,000,371 | ||||||
Other assets and liabilities, net — 0.4% | 641,443 | |||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 137,641,814 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the period ended August 31, 2018 is as follows:
Value ($) at of Operations | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 8/31/2018 | Value ($) at 8/31/2018 | ||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 2.2% |
| |||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 1.85% (b)(c) |
| |||||||||||||||||||||||||||||||
— | 2,990,054 | — | — | — | 8,278 | — | 2,990,054 | 2,990,054 |
(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, 2018 amounted to $2,879,002, which is 2.1% of net assets. |
See Notes to Financial Statements. | 45 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF (Continued)
August 31, 2018
(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. Represents the net increase (purchases cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended August 31, 2018. |
MTN: | Medium Term Note |
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, 2018 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 (d) | $ | — | $ | 134,010,317 | $ | — | $ | 134,010,317 | ||||||||
Short-Term Investments | 2,990,054 | — | — | 2,990,054 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 2,990,054 | $ | 134,010,317 | $ | — | $ | 137,000,371 | ||||||||
|
|
|
|
|
|
|
|
(d) | See Schedule of Investments for additional detailed categorizations. |
There have been no transfers between fair value measurement levels during the period ended August 31, 2018.
See Notes to Financial Statements. | 46 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF
August 31, 2018
Principal | Value | |||||||
CORPORATE BONDS — 97.2% | ||||||||
Basic Materials — 5.8% | ||||||||
Chemicals — 2.8% | ||||||||
Ashland LLC | $ | 130,000 | $ | 131,651 | ||||
CF Industries, Inc. | 250,000 | 265,000 | ||||||
Hexion, Inc. | 225,000 | 213,469 | ||||||
10.375%, 2/01/22, 144A | 25,000 | 24,726 | ||||||
Huntsman International LLC | 135,000 | 138,611 | ||||||
Momentive Performance Materials, Inc. | 50,000 | 53,500 | ||||||
Perstorp Holding AB, 144A | 75,000 | 81,937 | ||||||
Platform Specialty Products Corp., 144A | 100,000 | 102,625 | ||||||
WR Grace & Co.-Conn, 144A | 100,000 | 103,000 | ||||||
|
| |||||||
1,114,519 | ||||||||
|
| |||||||
Iron/Steel — 1.0% | ||||||||
AK Steel Corp. | 350,000 | 358,750 | ||||||
Allegheny Technologies, Inc. | 36,000 | 36,720 | ||||||
|
| |||||||
395,470 | ||||||||
|
| |||||||
Mining — 2.0% | ||||||||
Aleris International, Inc., 144A | 100,000 | 106,750 | ||||||
FMG Resources August 2006 Pty Ltd., 144A | 137,000 | 134,952 | ||||||
Freeport-McMoRan, Inc. | 200,000 | 193,500 | ||||||
6.875%, 2/15/23 | 100,000 | 107,250 | ||||||
3.875%, 3/15/23 | 200,000 | 192,750 | ||||||
Joseph T Ryerson & Son, Inc., 144A | 50,000 | 55,250 | ||||||
|
| |||||||
790,452 | ||||||||
|
| |||||||
Communications — 22.0% | ||||||||
Advertising — 0.8% | ||||||||
Acosta, Inc., 144A | 60,000 | 27,450 | ||||||
Outfront Media Capital LLC / Outfront Media Capital Corp. | 275,000 | 277,403 | ||||||
|
| |||||||
304,853 | ||||||||
|
| |||||||
Internet — 1.9% | ||||||||
Netflix, Inc. | 225,000 | 232,594 | ||||||
5.50%, 2/15/22 | 25,000 | 25,906 | ||||||
Symantec Corp. | 100,000 | 100,899 | ||||||
3.95%, 6/15/22 | 100,000 | 97,232 |
Principal | Value | |||||||
Internet (Continued) | ||||||||
Zayo Group LLC / Zayo Capital, Inc. | $ | 300,000 | $ | 310,701 | ||||
|
| |||||||
767,332 | ||||||||
|
| |||||||
Media — 8.0% | ||||||||
Altice Financing SA, 144A | 200,000 | 201,748 | ||||||
Altice Luxembourg SA, 144A | 250,000 | 241,875 | ||||||
Cablevision Systems Corp. | 89,000 | 93,895 | ||||||
5.875%, 9/15/22 | 25,000 | 25,500 | ||||||
CCO Holdings LLC / CCO Holdings Capital Corp. | 300,000 | 302,625 | ||||||
4.00%, 3/01/23, 144A | 100,000 | 95,625 | ||||||
Cequel Communications Holdings I LLC / Cequel Capital Corp., 144A | 275,000 | 276,028 | ||||||
Clear Channel Worldwide Holdings, Inc. | 225,000 | 226,688 | ||||||
Series A, 6.50%, 11/15/22 | 75,000 | 76,781 | ||||||
Series B, 6.50%, 11/15/22 | 125,000 | 128,438 | ||||||
CSC Holdings LLC | 100,000 | 106,250 | ||||||
DISH DBS Corp. | 200,000 | 207,250 | ||||||
5.125%, 5/01/20 | 100,000 | 100,875 | ||||||
6.75%, 6/01/21 | 200,000 | 203,500 | ||||||
5.875%, 7/15/22 | 175,000 | 168,656 | ||||||
5.00%, 3/15/23 (a) | 175,000 | 156,406 | ||||||
Quebecor Media, Inc. | 177,000 | 184,080 | ||||||
Sinclair Television Group, Inc. | 75,000 | 75,469 | ||||||
Sirius XM Radio, Inc., 144A | 100,000 | 98,620 | ||||||
Tribune Media Co. | 100,000 | 102,000 | ||||||
Univision Communications, Inc., 144A | 100,000 | 95,250 | ||||||
|
| |||||||
3,167,559 | ||||||||
|
| |||||||
Telecommunications — 11.3% | ||||||||
Anixter, Inc. | 75,000 | 77,437 | ||||||
CenturyLink, Inc. | 100,000 | 102,500 | ||||||
Series S, 6.45%, 6/15/21 | 75,000 | 78,375 | ||||||
Series T, 5.80%, 3/15/22 | 225,000 | 231,120 | ||||||
CommScope, Inc., 144A | 50,000 | 50,438 | ||||||
Consolidated Communications, Inc. | 40,000 | 37,950 | ||||||
Frontier Communications Corp. | 50,000 | 50,437 | ||||||
8.75%, 4/15/22 | 95,000 | 76,950 | ||||||
10.50%, 9/15/22 (a) | 175,000 | 154,875 | ||||||
7.125%, 1/15/23 | 70,000 | 48,038 |
See Notes to Financial Statements. | 47 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Telecommunications (Continued) | ||||||||
Hughes Satellite Systems Corp. | $ | 125,000 | $ | 128,456 | ||||
7.625%, 6/15/21 | 150,000 | 162,000 | ||||||
Inmarsat Finance PLC, 144A | 50,000 | 50,375 | ||||||
Intelsat Jackson Holdings SA | 100,000 | 100,375 | ||||||
7.50%, 4/01/21 | 225,000 | 227,531 | ||||||
9.50%, 9/30/22, 144A | 60,000 | 69,900 | ||||||
5.50%, 8/01/23 | 200,000 | 182,940 | ||||||
Intelsat Luxembourg SA | 165,000 | 159,844 | ||||||
8.125%, 6/01/23 | 85,000 | 74,056 | ||||||
Level 3 Financing, Inc. | 100,000 | 101,250 | ||||||
Level 3 Parent LLC | 73,000 | 73,730 | ||||||
Nokia OYJ | 125,000 | 122,485 | ||||||
Qwest Corp. | 75,000 | 80,535 | ||||||
Sable International Finance Ltd., 144A | 50,000 | 52,188 | ||||||
Sprint Communications, Inc. | 655,000 | 687,750 | ||||||
11.50%, 11/15/21 | 100,000 | 118,250 | ||||||
6.00%, 11/15/22 | 125,000 | 126,836 | ||||||
Sprint Corp. | 100,000 | 105,094 | ||||||
Telecom Italia Capital SA | 200,000 | 206,000 | ||||||
Telefonaktiebolaget LM Ericsson | 108,000 | 106,943 | ||||||
T-Mobile USA, Inc. | 100,000 | 99,625 | ||||||
VEON Holdings BV | 200,000 | 193,082 | ||||||
7.504%, 3/01/22, 144A | 200,000 | 213,598 | ||||||
Windstream Services LLC / Windstream Finance Corp., 144A | 50,000 | 40,500 | ||||||
WTT Investment Ltd., 144A | 112,000 | 112,491 | ||||||
|
| |||||||
4,503,954 | ||||||||
|
| |||||||
Consumer, Cyclical — 10.5% | ||||||||
Airlines — 0.8% | ||||||||
American Airlines Group, Inc. | 100,000 | 101,750 | ||||||
4.625%, 3/01/20, 144A | 163,000 | 164,589 | ||||||
Virgin Australia Holdings Ltd., 144A | 66,000 | 66,677 | ||||||
|
| |||||||
333,016 | ||||||||
|
| |||||||
Auto Manufacturers — 1.4% | ||||||||
Fiat Chrysler Automobiles NV | 100,000 | 100,875 | ||||||
5.25%, 4/15/23 | 250,000 | 254,687 |
Principal | Value | |||||||
Auto Manufacturers (Continued) | ||||||||
Jaguar Land Rover Automotive PLC, 144A | $ | 200,000 | $ | 197,750 | ||||
|
| |||||||
553,312 | ||||||||
|
| |||||||
Distribution/Wholesale — 0.1% | ||||||||
LKQ Corp. | 50,000 | 50,375 | ||||||
|
| |||||||
Entertainment — 1.3% | ||||||||
Cinemark USA, Inc. | 100,000 | 101,000 | ||||||
International Game Technology PLC, 144A | 175,000 | 181,475 | ||||||
Scientific Games International, Inc. | 200,000 | 212,270 | ||||||
|
| |||||||
494,745 | ||||||||
|
| |||||||
Home Builders — 1.9% | ||||||||
Beazer Homes USA, Inc. | 200,000 | 211,938 | ||||||
K Hovnanian Enterprises, Inc., 144A | 50,000 | 50,250 | ||||||
KB Home | 100,000 | 100,750 | ||||||
Lennar Corp. | 25,000 | 25,156 | ||||||
4.50%, 11/15/19 | 25,000 | 25,250 | ||||||
8.375%, 1/15/21 | 98,000 | 108,045 | ||||||
4.125%, 1/15/22 | 50,000 | 49,875 | ||||||
4.75%, 11/15/22 | 50,000 | 50,250 | ||||||
Taylor Morrison Communities, Inc. / Taylor Morrison Holdings II, Inc., 144A | 90,000 | 90,225 | ||||||
Toll Brothers Finance Corp. | 50,000 | 49,949 | ||||||
|
| |||||||
761,688 | ||||||||
|
| |||||||
Leisure Time — 0.2% | ||||||||
24 Hour Fitness Worldwide, Inc., 144A 8.00%, 6/01/22 (a) | 75,000 | 75,399 | ||||||
|
| |||||||
Lodging — 2.5% | ||||||||
Boyd Gaming Corp. | 100,000 | 105,500 | ||||||
Jack Ohio Finance LLC / Jack Ohio Finance 1 Corp., 144A | 100,000 | 103,750 | ||||||
MGM Resorts International | 250,000 | 255,625 | ||||||
7.75%, 3/15/22 | 75,000 | 82,594 | ||||||
6.00%, 3/15/23 | 225,000 | 234,146 | ||||||
Studio City Co. Ltd., 144A | 100,000 | 102,750 | ||||||
Wyndham Destinations, Inc. | 100,000 | 96,744 | ||||||
|
| |||||||
981,109 | ||||||||
|
|
See Notes to Financial Statements. | 48 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Retail — 2.3% | ||||||||
1011778 BC ULC / New Red Finance, Inc., 144A | $ | 200,000 | $ | 200,500 | ||||
Ferrellgas LP / Ferrellgas Finance Corp. | 50,000 | 46,000 | ||||||
6.75%, 1/15/22 | 60,000 | 53,700 | ||||||
Group 1 Automotive, Inc. | 50,000 | 49,750 | ||||||
L Brands, Inc., 144A | 70,000 | 66,325 | ||||||
Neiman Marcus Group Ltd. LLC, 144A | 100,000 | 68,250 | ||||||
PetSmart, Inc., 144A | 152,000 | 102,980 | ||||||
QVC, Inc. | 150,000 | 153,174 | ||||||
Rite Aid Corp., 144A | 168,000 | 151,570 | ||||||
Sears Holdings Corp. | 50,000 | 20,312 | ||||||
|
| |||||||
912,561 | ||||||||
|
| |||||||
Consumer, Non-cyclical — 21.5% | ||||||||
Commercial Services — 5.4% | ||||||||
ADT Corp. | 200,000 | 212,000 | ||||||
4.125%, 6/15/23 | 125,000 | 119,219 | ||||||
Ahern Rentals, Inc., 144A | 50,000 | 49,440 | ||||||
APX Group, Inc. | 50,000 | 50,125 | ||||||
7.875%, 12/01/22 | 116,000 | 118,755 | ||||||
Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 144A | 25,000 | �� | 24,937 | |||||
Herc Rentals, Inc., 144A | 44,000 | 46,255 | ||||||
Hertz Corp. | 190,000 | 189,941 | ||||||
7.375%, 1/15/21 (a) | 82,000 | 82,307 | ||||||
7.625%, 6/01/22, 144A | 75,000 | 74,625 | ||||||
6.25%, 10/15/22 (a) | 40,000 | 37,500 | ||||||
Jaguar Holding Co. II / Pharmaceutical Product Development LLC, 144A | 100,000 | 100,750 | ||||||
Monitronics International, Inc. | 80,000 | 59,200 | ||||||
Nielsen Co. Luxembourg SARL, 144A | 125,000 | 125,469 | ||||||
Nielsen Finance LLC / Nielsen Finance Co. | 300,000 | 300,000 | ||||||
Prime Security Services Borrower LLC / Prime Finance, Inc., 144A | 75,000 | 80,535 | ||||||
RR Donnelley & Sons Co. | 50,000 | 52,938 |
Principal | Value | |||||||
Commercial Services (Continued) | ||||||||
Service Corp. International | $ | 220,000 | $ | 223,787 | ||||
United Rentals North America, Inc. | 100,000 | 101,450 | ||||||
WEX, Inc., 144A | 100,000 | 100,625 | ||||||
|
| |||||||
2,149,858 | ||||||||
|
| |||||||
Cosmetics/Personal Care — 0.7% | ||||||||
Avon Products, Inc. | 50,000 | 50,192 | ||||||
7.00%, 3/15/23 | 75,000 | 64,688 | ||||||
Edgewell Personal Care Co. | 100,000 | 99,780 | ||||||
Revlon Consumer Products Corp. | 53,000 | 43,725 | ||||||
|
| |||||||
258,385 | ||||||||
|
| |||||||
Food — 1.2% | ||||||||
Darling Ingredients, Inc. | 223,000 | 226,067 | ||||||
TreeHouse Foods, Inc. | 255,000 | 255,956 | ||||||
|
| |||||||
482,023 | ||||||||
|
| |||||||
Healthcare-Products — 1.6% | ||||||||
DJO Finance LLC / DJO Finance Corp., 144A | 75,000 | 77,835 | ||||||
Kinetic Concepts, Inc. / KCI USA, Inc., 144A | 98,000 | 107,800 | ||||||
Mallinckrodt International Finance SA / Mallinckrodt CB LLC | 225,000 | 225,281 | ||||||
5.75%, 8/01/22, 144A | 100,000 | 93,750 | ||||||
Ortho-Clinical Diagnostics, Inc. / Ortho-Clinical Diagnostics SA, 144A | 150,000 | 147,938 | ||||||
|
| |||||||
652,604 | ||||||||
|
| |||||||
Healthcare-Services — 9.8% | ||||||||
Centene Corp. | 240,000 | 245,400 | ||||||
4.75%, 5/15/22 | 92,000 | 94,070 | ||||||
CHS/Community Health Systems, Inc. | 50,000 | 48,500 | ||||||
6.875%, 2/01/22 | 197,000 | 101,455 | ||||||
6.25%, 3/31/23 | 300,000 | 286,500 | ||||||
11.00%, 6/30/23, 144A (a) | 125,000 | 112,500 | ||||||
8.125%, 6/30/24, 144A (a) | 110,000 | 91,025 | ||||||
DaVita, Inc. | 125,000 | 127,031 | ||||||
Envision Healthcare Corp. | 50,000 | 51,000 | ||||||
5.625%, 7/15/22 | 169,000 | 174,070 | ||||||
HCA Healthcare, Inc. | 200,000 | 209,500 |
See Notes to Financial Statements. | 49 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Healthcare-Services (Continued) | ||||||||
HCA, Inc. | $ | 25,000 | $ | 25,100 | ||||
4.25%, 10/15/19 | 100,000 | 101,366 | ||||||
6.50%, 2/15/20 | 200,000 | 208,100 | ||||||
5.875%, 3/15/22 | 300,000 | 319,500 | ||||||
4.75%, 5/01/23 | 250,000 | 254,687 | ||||||
LifePoint Health, Inc. | 100,000 | 102,000 | ||||||
Quorum Health Corp. | 40,000 | 40,000 | ||||||
RegionalCare Hospital Partners Holdings, Inc., 144A | 75,000 | 80,063 | ||||||
Surgery Center Holdings, Inc., 144A | 25,000 | 26,156 | ||||||
Tenet Healthcare Corp. | 117,000 | 118,024 | ||||||
4.75%, 6/01/20 | 158,000 | 160,370 | ||||||
6.00%, 10/01/20 | 150,000 | 156,375 | ||||||
4.50%, 4/01/21 | 100,000 | 100,375 | ||||||
4.375%, 10/01/21 | 150,000 | 150,375 | ||||||
7.50%, 1/01/22, 144A | 100,000 | 105,094 | ||||||
8.125%, 4/01/22 | 275,000 | 291,500 | ||||||
6.75%, 6/15/23 | 100,000 | 100,375 | ||||||
|
| |||||||
3,880,511 | ||||||||
|
| |||||||
Pharmaceuticals — 2.8% | ||||||||
Bausch Health Cos., Inc. | 150,000 | 152,663 | ||||||
5.625%, 12/01/21, 144A | 400,000 | 397,500 | ||||||
6.50%, 3/15/22, 144A | 50,000 | 51,875 | ||||||
5.50%, 3/01/23, 144A | 200,000 | 189,526 | ||||||
5.875%, 5/15/23, 144A | 100,000 | 95,975 | ||||||
Endo Dac / Endo Finance LLC / Endo Finco, Inc., 144A | 200,000 | 173,000 | ||||||
Endo Finance LLC, 144A | 26,000 | 24,180 | ||||||
Endo Finance LLC / Endo Finco, Inc., 144A | 50,000 | 43,000 | ||||||
|
| |||||||
1,127,719 | ||||||||
|
| |||||||
Energy — 13.1% | ||||||||
Energy-Alternate Sources — 0.1% | ||||||||
TerraForm Power Operating LLC, 144A | 50,000 | 48,875 | ||||||
|
| |||||||
Oil & Gas — 9.7% | ||||||||
Antero Resources Corp. | 268,000 | 272,020 | ||||||
Ascent Resources Utica Holdings LLC / ARU Finance Corp., 144A | 100,000 | 111,000 | ||||||
Baytex Energy Corp., 144A | 50,000 | 48,875 | ||||||
California Resources Corp., 144A | 215,000 | 193,769 |
Principal | Value | |||||||
Oil & Gas (Continued) | ||||||||
Calumet Specialty Products Partners LP / Calumet Finance Corp. | $ | 75,000 | $ | 74,250 | ||||
Carrizo Oil & Gas, Inc. | 50,000 | 51,375 | ||||||
Chesapeake Energy Corp. | 78,000 | 81,315 | ||||||
6.125%, 2/15/21 | 50,000 | 51,250 | ||||||
4.875%, 4/15/22 | 50,000 | 48,500 | ||||||
8.00%, 12/15/22, 144A | 100,000 | 105,250 | ||||||
Citgo Holding, Inc., 144A | 150,000 | 160,875 | ||||||
CITGO Petroleum Corp., 144A | 80,000 | 81,000 | ||||||
CNX Resources Corp. | 200,000 | 200,490 | ||||||
Continental Resources, Inc. | 200,000 | 204,824 | ||||||
Denbury Resources, Inc., 144A | 100,000 | 107,125 | ||||||
Jones Energy Holdings LLC / Jones Energy Finance Corp. | 85,000 | 52,275 | ||||||
Jupiter Resources, Inc., 144A | 115,000 | 58,362 | ||||||
MEG Energy Corp., 144A | 61,000 | 55,662 | ||||||
Murphy Oil Corp. | 100,000 | 100,062 | ||||||
Nabors Industries, Inc. | 200,000 | 201,729 | ||||||
4.625%, 9/15/21 | 25,000 | 24,963 | ||||||
5.50%, 1/15/23 (a) | 50,000 | 50,118 | ||||||
Newfield Exploration Co. | 100,000 | 106,000 | ||||||
QEP Resources, Inc. | 100,000 | 101,030 | ||||||
Range Resources Corp. | 60,000 | 59,400 | ||||||
5.00%, 3/15/23 | 100,000 | 98,330 | ||||||
Rowan Cos., Inc. | 79,000 | 73,865 | ||||||
Sable Permian Resources Land LLC / AEPB Finance Corp. | 60,000 | 38,700 | ||||||
13.00%, 11/30/20, 144A | 200,000 | 222,000 | ||||||
7.375%, 11/01/21, 144A | 40,000 | 25,200 | ||||||
Sanchez Energy Corp. | 50,000 | 35,000 | ||||||
6.125%, 1/15/23 | 125,000 | 71,206 | ||||||
SM Energy Co. | 38,000 | 39,282 | ||||||
Southwestern Energy Co. | 97,000 | 95,060 | ||||||
Sunoco LP / Sunoco Finance Corp., 144A | 175,000 | 173,082 |
See Notes to Financial Statements. | 50 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Oil & Gas (Continued) | ||||||||
Transocean, Inc. | $ | 75,000 | $ | 74,437 | ||||
9.00%, 7/15/23, 144A | 50,000 | 54,063 | ||||||
Ultra Resources, Inc., 144A | 52,000 | 25,610 | ||||||
Whiting Petroleum Corp. | 60,000 | 61,650 | ||||||
6.25%, 4/01/23 | 50,000 | 51,625 | ||||||
WPX Energy, Inc. | 117,000 | 121,388 | ||||||
|
| |||||||
3,862,017 | ||||||||
|
| |||||||
Oil & Gas Services — 0.9% | ||||||||
Bristow Group, Inc. | 40,000 | 28,400 | ||||||
KCA Deutag UK Finance PLC, 144A | 75,000 | 75,188 | ||||||
Weatherford International Ltd. | 100,000 | 98,375 | ||||||
4.50%, 4/15/22 | 100,000 | 87,500 | ||||||
8.25%, 6/15/23 (a) | 50,000 | 46,625 | ||||||
|
| |||||||
336,088 | ||||||||
|
| |||||||
Pipelines — 2.4% | ||||||||
Blue Racer Midstream LLC / Blue Racer Finance Corp., 144A | 100,000 | 102,498 | ||||||
DCP Midstream Operating LP | 100,000 | 97,750 | ||||||
Energy Transfer Equity LP | 118,000 | 127,292 | ||||||
4.25%, 3/15/23 | 100,000 | 100,530 | ||||||
Genesis Energy LP / Genesis Energy Finance Corp. | 175,000 | 179,375 | ||||||
NGPL PipeCo LLC, 144A | 100,000 | 101,125 | ||||||
Rockies Express Pipeline LLC, 144A | 100,000 | 103,625 | ||||||
Targa Resources Partners LP / Targa Resources Partners Finance Corp. | 125,000 | 125,413 | ||||||
|
| |||||||
937,608 | ||||||||
|
| |||||||
Financial — 9.0% | ||||||||
Banks — 0.6% | ||||||||
CIT Group, Inc. | 150,000 | 153,375 | ||||||
5.00%, 8/01/23 | 100,000 | 101,875 | ||||||
|
| |||||||
255,250 | ||||||||
|
| |||||||
Diversified Financial Services — 5.2% | ||||||||
Ally Financial, Inc. | 100,000 | 100,625 | ||||||
8.00%, 3/15/20 | 150,000 | 159,562 | ||||||
7.50%, 9/15/20 | 250,000 | 267,500 | ||||||
4.125%, 2/13/22 | 100,000 | 99,750 |
Principal | Value | |||||||
Diversified Financial Services (Continued) | ||||||||
Blackstone CQP Holdco LP, 144A | $ | 150,000 | $ | 151,178 | ||||
Jefferies Finance LLC / JFIN Co.-Issuer Corp., 144A | 25,000 | 25,875 | ||||||
Jefferies Finance LLC / JFIN Co-Issuer Corp. | 25,000 | 25,562 | ||||||
6.875%, 4/15/22, 144A | 75,000 | 76,125 | ||||||
Lincoln Finance Ltd., 144A | 100,000 | 103,375 | ||||||
Navient Corp. | 200,000 | 212,550 | ||||||
5.00%, 10/26/20 | 125,000 | 125,651 | ||||||
Series MTN, 7.25%, 1/25/22 | 50,000 | 53,063 | ||||||
6.50%, 6/15/22 | 250,000 | 258,825 | ||||||
5.50%, 1/25/23 | 50,000 | 49,625 | ||||||
Springleaf Finance Corp. | 150,000 | 162,563 | ||||||
6.125%, 5/15/22 | 100,000 | 103,250 | ||||||
5.625%, 3/15/23 | 100,000 | 100,000 | ||||||
|
| |||||||
2,075,079 | ||||||||
|
| |||||||
Insurance — 0.3% | ||||||||
Genworth Holdings, Inc. | 70,000 | 72,800 | ||||||
4.90%, 8/15/23 | 50,000 | 45,125 | ||||||
|
| |||||||
117,925 | ||||||||
|
| |||||||
Real Estate — 0.3% | ||||||||
Realogy Group LLC / Realogy Co.-Issuer Corp., 144A | 100,000 | 100,125 | ||||||
|
| |||||||
Real Estate Investment Trusts — 1.7% | ||||||||
Equinix, Inc. | 84,000 | 86,713 | ||||||
5.375%, 4/01/23 | 100,000 | 102,625 | ||||||
Iron Mountain, Inc., 144A | 100,000 | 100,500 | ||||||
iStar, Inc. | 75,000 | 74,813 | ||||||
5.25%, 9/15/22 | 40,000 | 39,700 | ||||||
SBA Communications Corp. | 50,000 | 50,750 | ||||||
4.00%, 10/01/22 | 100,000 | 98,274 | ||||||
Starwood Property Trust, Inc. | 125,000 | 126,250 | ||||||
|
| |||||||
679,625 | ||||||||
|
| |||||||
Venture Capital — 0.9% | ||||||||
Icahn Enterprises LP / Icahn Enterprises Finance Corp. | 250,000 | 255,197 | ||||||
6.25%, 2/01/22 | 100,000 | 102,990 | ||||||
|
| |||||||
358,187 | ||||||||
|
|
See Notes to Financial Statements. | 51 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Industrial — 8.0% | ||||||||
Aerospace/Defense — 2.7% | ||||||||
Arconic, Inc. | $ | 150,000 | $ | 154,561 | ||||
5.87%, 2/23/22 | 200,000 | 208,920 | ||||||
Bombardier, Inc. | 150,000 | 158,063 | ||||||
8.75%, 12/01/21, 144A | 100,000 | 110,500 | ||||||
5.75%, 3/15/22, 144A | 102,000 | 102,765 | ||||||
6.00%, 10/15/22, 144A | 100,000 | 100,750 | ||||||
6.125%, 1/15/23, 144A | 80,000 | 81,000 | ||||||
KLX, Inc., 144A | 100,000 | 103,750 | ||||||
TransDigm, Inc. | 50,000 | 50,625 | ||||||
|
| |||||||
1,070,934 | ||||||||
|
| |||||||
Building Materials — 0.4% | ||||||||
Griffon Corp. | 51,000 | 50,505 | ||||||
Summit Materials LLC / Summit Materials Finance Corp. | 100,000 | 101,875 | ||||||
|
| |||||||
152,380 | ||||||||
|
| |||||||
Engineering & Construction — 0.1% | ||||||||
MasTec, Inc. | 50,000 | 49,375 | ||||||
|
| |||||||
Environmental Control — 0.1% | ||||||||
GFL Environmental, Inc., 144A | 50,000 | 47,625 | ||||||
|
| |||||||
Packaging & Containers — 3.7% | ||||||||
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc., 144A | 200,000 | 198,750 | ||||||
Ball Corp. | 156,000 | 161,655 | ||||||
Berry Global, Inc. | 50,000 | 51,000 | ||||||
6.00%, 10/15/22 | 345,000 | 356,212 | ||||||
Crown Americas LLC / Crown Americas Capital Corp. IV | 70,000 | 70,175 | ||||||
Graphic Packaging International LLC | 50,000 | 50,780 | ||||||
Owens-Brockway Glass Container, Inc., 144A | 52,000 | 52,325 | ||||||
Reynolds Group Issuer, Inc. / Reynolds Group Issuer LLC / Reynolds Group Issuer Lu | 193,822 | 194,306 | ||||||
5.125%, 7/15/23, 144A | 175,000 | 174,563 | ||||||
Sealed Air Corp. | 69,000 | 72,968 | ||||||
4.875%, 12/01/22, 144A | 75,000 | 75,656 | ||||||
|
| |||||||
1,458,390 | ||||||||
|
|
Principal | Value | |||||||
Transportation — 0.4% | ||||||||
Hornbeck Offshore Services, Inc. | $ | 50,000 | $ | 36,250 | ||||
XPO Logistics, Inc., 144A | 131,000 | 135,810 | ||||||
|
| |||||||
172,060 | ||||||||
|
| |||||||
Trucking & Leasing — 0.6% | ||||||||
Park Aerospace Holdings Ltd. | 125,000 | 127,813 | ||||||
4.50%, 3/15/23, 144A | 100,000 | 99,125 | ||||||
|
| |||||||
226,938 | ||||||||
|
| |||||||
Technology — 5.7% | ||||||||
Computers — 2.4% | ||||||||
Dell International LLC / EMC Corp., 144A | 103,000 | 106,236 | ||||||
Dell, Inc. | 273,000 | 278,460 | ||||||
EMC Corp. | 100,000 | 97,833 | ||||||
3.375%, 6/01/23 | 100,000 | 94,498 | ||||||
Exela Intermediate LLC / Exela Finance, Inc., 144A | 100,000 | 105,250 | ||||||
Harland Clarke Holdings Corp., 144A | 175,000 | 160,125 | ||||||
NCR Corp. | 100,000 | 98,000 | ||||||
Sungard Availability Services Capital, Inc., 144A | 50,000 | 25,500 | ||||||
|
| |||||||
965,902 | ||||||||
|
| |||||||
Office/Business Equipment — 0.2% | ||||||||
Pitney Bowes, Inc. | 100,000 | 89,750 | ||||||
|
| |||||||
Semiconductors — 1.5% | ||||||||
Amkor Technology, Inc. | 50,000 | 51,000 | ||||||
NXP BV / NXP Funding LLC | 250,000 | 250,937 | ||||||
3.875%, 9/01/22, 144A | 200,000 | 198,750 | ||||||
STATS ChipPAC Pte Ltd., 144A | 107,000 | 108,605 | ||||||
|
| |||||||
609,292 | ||||||||
|
| |||||||
Software — 1.6% | ||||||||
BMC Software Finance, Inc., 144A | 145,000 | 148,402 | ||||||
First Data Corp., 144A | 100,000 | 102,015 | ||||||
Infor US, Inc. | 150,000 | 152,695 | ||||||
Riverbed Technology, Inc., 144A | 50,000 | 46,438 | ||||||
TIBCO Software, Inc., 144A | 150,000 | 160,687 | ||||||
|
| |||||||
610,237 | ||||||||
|
|
See Notes to Financial Statements. | 52 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Utilities — 1.6% | ||||||||
Electric — 1.6% | ||||||||
AES Corp. | $ | 200,000 | $ | 200,750 | ||||
Calpine Corp. | 125,000 | 119,219 | ||||||
DPL, Inc. | 10,000 | 10,862 | ||||||
NRG Energy, Inc. | 100,000 | 103,500 | ||||||
Talen Energy Supply LLC | 29,000 | 25,303 | ||||||
9.50%, 7/15/22, 144A (a) | 80,000 | 77,600 | ||||||
Vistra Energy Corp. | 100,000 | 104,375 | ||||||
|
| |||||||
641,609 | ||||||||
|
| |||||||
TOTAL CORPORATE BONDS (Cost $38,845,473) | 38,622,715 | |||||||
|
|
Number | Value | |||||||
SECURITIES LENDING COLLATERAL — 6.1% |
| |||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 1.85% (b)(c) | 2,437,670 | $ | 2,437,670 | |||||
|
| |||||||
TOTAL INVESTMENTS — 103.3% (Cost $41,283,143) | $ | 41,060,385 | ||||||
Other assets and liabilities, net — (3.3%) | (1,304,578 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 39,755,807 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the period ended August 31, 2018 is as follows:
Value ($) at Commencement | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 8/31/2018 | Value ($) at 8/31/2018 | ||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 6.1% |
| |||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 1.85% (b)(c) |
| |||||||||||||||||||||||||||||||
— | 2,437,670 | — | — | — | 17,830 | — | 2,437,670 | 2,437,670 |
(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, 2018 amounted to $2,359,140, which is 5.9% 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. Represents the net increase (purchases cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended August 31, 2018. In addition, the Fund held non-cash U.S. Treasury securities collateral having a value of $30,709. |
MTN: | Medium Term Note |
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, 2018 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 (d) | $ | — | $ | 38,622,715 | $ | — | $ | 38,622,715 | ||||||||
Short-Term Investments | 2,437,670 | — | — | 2,437,670 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 2,437,670 | $ | 38,622,715 | $ | — | $ | 41,060,385 | ||||||||
|
|
|
|
|
|
|
|
(d) | See Schedule of Investments for additional detailed categorizations. |
There have been no transfers between fair value measurement levels during the period ended August 31, 2018.
See Notes to Financial Statements. | 53 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF
August 31, 2018
Principal | Value | |||||||
CORPORATE BONDS — 97.7% |
| |||||||
Basic Materials — 4.8% |
| |||||||
Chemicals — 2.5% |
| |||||||
Ashland LLC | $ | 1,805,000 | $ | 1,827,923 | ||||
Blue Cube Spinco LLC | 2,800,000 | 3,188,500 | ||||||
10.00%, 10/15/25 | 1,098,000 | 1,276,425 | ||||||
CF Industries, Inc. | 1,016,000 | 1,076,960 | ||||||
3.45%, 6/01/23 | 1,132,000 | 1,090,965 | ||||||
Chemours Co. | 1,157,000 | 1,213,404 | ||||||
7.00%, 5/15/25 | 2,250,000 | 2,413,125 | ||||||
5.375%, 5/15/27 | 777,000 | 765,345 | ||||||
Consolidated Energy Finance SA | 1,000,000 | 1,035,500 | ||||||
6.50%, 5/15/26, 144A | 700,000 | 706,125 | ||||||
Hexion, Inc. | 2,703,000 | 2,564,471 | ||||||
10.375%, 2/01/22, 144A | 1,328,000 | 1,313,432 | ||||||
Huntsman International LLC | 1,194,000 | 1,225,939 | ||||||
5.125%, 11/15/22 | 1,528,000 | 1,581,480 | ||||||
INEOS Group Holdings SA, 144A | 1,205,000 | 1,192,432 | ||||||
Momentive Performance Materials, Inc. | 1,791,000 | 1,916,370 | ||||||
NOVA Chemicals Corp. | 1,400,000 | 1,405,250 | ||||||
4.875%, 6/01/24, 144A | 1,842,000 | 1,807,462 | ||||||
5.00%, 5/01/25, 144A | 1,147,000 | 1,109,722 | ||||||
5.25%, 6/01/27, 144A | 1,924,000 | 1,832,610 | ||||||
OCI NV, 144A | 1,510,000 | 1,568,512 | ||||||
Olin Corp. | 666,000 | 661,005 | ||||||
5.00%, 2/01/30 | 625,000 | 599,219 | ||||||
Perstorp Holding AB, 144A | 631,000 | 689,368 | ||||||
Platform Specialty Products Corp. | 2,409,000 | 2,472,236 | ||||||
5.875%, 12/01/25, 144A (a) | 1,538,000 | 1,528,388 | ||||||
PolyOne Corp. | 1,395,000 | 1,442,500 | ||||||
PQ Corp., 144A | 1,257,000 | 1,318,279 | ||||||
SPCM SA, 144A | 1,462,000 | 1,401,225 | ||||||
WR Grace & Co.-Conn, 144A | 1,418,000 | 1,460,540 | ||||||
|
| |||||||
43,684,712 | ||||||||
|
| |||||||
Iron/Steel — 0.7% | ||||||||
AK Steel Corp. | 1,045,000 | 1,071,125 | ||||||
7.00%, 3/15/27 (a) | 788,000 | 750,570 |
Principal | Value | |||||||
Iron/Steel (Continued) | ||||||||
Allegheny Technologies, Inc. | $ | 810,000 | $ | 826,200 | ||||
7.875%, 8/15/23 (a) | 1,081,000 | 1,160,724 | ||||||
Cleveland-Cliffs, Inc. | 572,000 | 559,130 | ||||||
5.75%, 3/01/25 (a) | 2,400,000 | 2,365,944 | ||||||
Steel Dynamics, Inc. | 727,000 | 738,087 | ||||||
5.25%, 4/15/23 | 1,913,000 | 1,949,442 | ||||||
5.50%, 10/01/24 | 477,000 | 490,117 | ||||||
United States Steel Corp. | 2,116,000 | 2,158,320 | ||||||
6.25%, 3/15/26 | 921,000 | 919,849 | ||||||
|
| |||||||
12,989,508 | ||||||||
|
| |||||||
Mining — 1.6% | ||||||||
Alcoa Nederland Holding BV | 2,015,000 | 2,145,975 | ||||||
7.00%, 9/30/26, 144A | 847,000 | 917,936 | ||||||
6.125%, 5/15/28, 144A | 1,035,000 | 1,071,225 | ||||||
Aleris International, Inc., 144A | 500,000 | 533,750 | ||||||
Constellium NV | 799,000 | 799,999 | ||||||
6.625%, 3/01/25, 144A (a) | 1,623,000 | 1,655,460 | ||||||
5.875%, 2/15/26, 144A | 693,000 | 680,872 | ||||||
FMG Resources August 2006 Pty Ltd. | 1,133,000 | 1,116,062 | ||||||
5.125%, 3/15/23, 144A (a) | 1,377,000 | 1,349,460 | ||||||
5.125%, 5/15/24, 144A (a) | 1,294,000 | 1,256,798 | ||||||
Freeport-McMoRan, Inc. | 2,000,000 | 1,988,300 | ||||||
4.00%, 11/14/21 | 3,144,000 | 3,127,305 | ||||||
3.55%, 3/01/22 | 1,757,000 | 1,699,898 | ||||||
6.875%, 2/15/23 | 1,800,000 | 1,930,500 | ||||||
3.875%, 3/15/23 | 3,119,000 | 3,005,936 | ||||||
4.55%, 11/14/24 (a) | 2,178,000 | 2,107,215 | ||||||
Hudbay Minerals, Inc. | 170,000 | 173,825 | ||||||
7.625%, 1/15/25, 144A | 1,779,000 | 1,816,804 | ||||||
Joseph T Ryerson & Son, Inc., 144A | 1,140,000 | 1,259,700 | ||||||
Teck Resources Ltd., 144A | 470,000 | 517,000 | ||||||
|
| |||||||
29,154,020 | ||||||||
|
| |||||||
Communications — 22.6% |
| |||||||
Advertising — 0.4% |
| |||||||
Acosta, Inc., 144A | 1,554,000 | 710,955 | ||||||
Lamar Media Corp. | 998,000 | 1,020,455 | ||||||
5.375%, 1/15/24 | 2,015,000 | 2,060,338 | ||||||
5.75%, 2/01/26 | 496,000 | 517,080 | ||||||
Outfront Media Capital LLC / Outfront Media Capital Corp. | 1,090,000 | 1,099,527 |
See Notes to Financial Statements. | 54 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Advertising (Continued) | ||||||||
5.625%, 2/15/24 | $ | 1,060,000 | $ | 1,075,900 | ||||
5.875%, 3/15/25 | 675,000 | 683,437 | ||||||
|
| |||||||
7,167,692 | ||||||||
|
| |||||||
Internet — 1.7% | ||||||||
Match Group, Inc., 144A | 1,000,000 | 987,500 | ||||||
Netflix, Inc. | 1,200,000 | 1,240,500 | ||||||
5.50%, 2/15/22 | 1,734,000 | 1,796,857 | ||||||
5.75%, 3/01/24 | 842,000 | 864,102 | ||||||
5.875%, 2/15/25 | 732,000 | 757,620 | ||||||
4.375%, 11/15/26 (a) | 3,750,000 | 3,551,963 | ||||||
4.875%, 4/15/28, 144A | 2,731,000 | 2,591,036 | ||||||
5.875%, 11/15/28, 144A | 3,255,000 | 3,278,794 | ||||||
Symantec Corp. | 1,263,000 | 1,274,356 | ||||||
3.95%, 6/15/22 | 767,000 | 745,765 | ||||||
5.00%, 4/15/25, 144A | 2,052,000 | 2,040,253 | ||||||
VeriSign, Inc. | 1,800,000 | 1,834,560 | ||||||
5.25%, 4/01/25 | 759,000 | 773,269 | ||||||
4.75%, 7/15/27 | 1,225,000 | 1,185,188 | ||||||
Zayo Group LLC / Zayo Capital, Inc. | 2,542,000 | 2,632,673 | ||||||
6.375%, 5/15/25 | 2,481,000 | 2,601,949 | ||||||
5.75%, 1/15/27, 144A | 2,973,000 | 2,987,865 | ||||||
|
| |||||||
31,144,250 | ||||||||
|
| |||||||
Media — 11.1% | ||||||||
Altice Financing SA | 4,055,000 | 4,090,441 | ||||||
7.50%, 5/15/26, 144A | 5,254,000 | 5,030,705 | ||||||
Altice Finco SA, 144A | 1,000,000 | 1,012,500 | ||||||
Altice France SA | 3,284,000 | 3,255,265 | ||||||
7.375%, 5/01/26, 144A | 10,065,000 | 9,926,606 | ||||||
8.125%, 2/01/27, 144A | 3,650,000 | 3,713,875 | ||||||
Altice Luxembourg SA | 5,542,000 | 5,361,885 | ||||||
7.625%, 2/15/25, 144A (a) | 2,629,000 | 2,439,817 | ||||||
Altice US Finance I Corp. | 1,820,000 | 1,835,925 | ||||||
5.50%, 5/15/26, 144A | 3,032,000 | 2,986,520 | ||||||
AMC Networks, Inc. | 465,000 | 466,162 | ||||||
5.00%, 4/01/24 | 2,056,000 | 2,027,730 | ||||||
4.75%, 8/01/25 | 1,900,000 | 1,838,250 | ||||||
Cable One, Inc., 144A | 1,100,000 | 1,122,000 | ||||||
Cablevision Systems Corp. | 1,554,000 | 1,639,470 | ||||||
5.875%, 9/15/22 | 1,074,000 | 1,095,480 | ||||||
CBS Radio, Inc., 144A | 850,000 | 818,125 |
Principal | Value | |||||||
Media (Continued) | ||||||||
CCO Holdings LLC / CCO Holdings Capital Corp. | $ | 689,000 | $ | 694,598 | ||||
5.25%, 9/30/22 | 1,731,000 | 1,746,146 | ||||||
5.125%, 2/15/23 | 1,937,000 | 1,944,264 | ||||||
4.00%, 3/01/23, 144A | 1,775,000 | 1,697,344 | ||||||
5.125%, 5/01/23, 144A | 2,439,000 | 2,445,097 | ||||||
5.75%, 9/01/23 | 1,271,000 | 1,296,420 | ||||||
5.75%, 1/15/24 | 1,531,000 | 1,561,360 | ||||||
5.875%, 4/01/24, 144A | 3,051,000 | 3,119,647 | ||||||
5.375%, 5/01/25, 144A | 2,100,000 | 2,092,125 | ||||||
5.75%, 2/15/26, 144A | 4,908,000 | 4,920,270 | ||||||
5.50%, 5/01/26, 144A | 2,129,000 | 2,107,710 | ||||||
5.125%, 5/01/27, 144A | 5,097,000 | 4,874,006 | ||||||
5.875%, 5/01/27, 144A | 1,752,000 | 1,736,670 | ||||||
5.00%, 2/01/28, 144A | 6,041,000 | 5,687,783 | ||||||
Cengage Learning, Inc., 144A | 1,288,000 | 1,114,893 | ||||||
Cequel Communications Holdings I LLC / Cequel Capital Corp. | 1,561,000 | 1,568,805 | ||||||
5.125%, 12/15/21, 144A | 2,275,000 | 2,283,508 | ||||||
7.75%, 7/15/25, 144A | 993,000 | 1,061,269 | ||||||
7.50%, 4/01/28, 144A | 2,000,000 | 2,095,000 | ||||||
Clear Channel Worldwide Holdings, Inc. | 3,576,000 | 3,602,820 | ||||||
Series A, 6.50%, 11/15/22 | 1,600,000 | 1,638,000 | ||||||
Series B, 6.50%, 11/15/22 | 3,929,000 | 4,037,047 | ||||||
CSC Holdings LLC | 1,610,000 | 1,710,625 | ||||||
10.125%, 1/15/23, 144A | 3,453,000 | 3,789,668 | ||||||
5.25%, 6/01/24 | 1,231,000 | 1,197,147 | ||||||
6.625%, 10/15/25, 144A | 1,994,000 | 2,076,253 | ||||||
10.875%, 10/15/25, 144A | 2,831,000 | 3,301,654 | ||||||
5.50%, 4/15/27, 144A | 1,752,000 | 1,710,390 | ||||||
5.375%, 2/01/28, 144A | 2,857,000 | 2,745,434 | ||||||
DISH DBS Corp. | 1,965,000 | 2,036,231 | ||||||
5.125%, 5/01/20 | 3,270,000 | 3,298,612 | ||||||
6.75%, 6/01/21 | 3,902,000 | 3,970,285 | ||||||
5.875%, 7/15/22 (a) | 3,800,000 | 3,662,250 | ||||||
5.00%, 3/15/23 (a) | 2,443,000 | 2,183,431 | ||||||
5.875%, 11/15/24 | 3,944,000 | 3,446,070 | ||||||
7.75%, 7/01/26 | 3,990,000 | 3,615,937 | ||||||
Gray Television, Inc. | 925,000 | 908,813 | ||||||
5.875%, 7/15/26, 144A | 1,133,000 | 1,135,833 | ||||||
Meredith Corp., 144A | 2,552,000 | 2,590,280 | ||||||
Nexstar Broadcasting, Inc., 144A | 1,443,500 | 1,422,136 | ||||||
Quebecor Media, Inc. | 1,700,000 | 1,768,000 | ||||||
Sinclair Television Group, Inc. | 708,000 | 712,425 | ||||||
6.125%, 10/01/22 | 919,000 | 945,605 |
See Notes to Financial Statements. | 55 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Media (Continued) | ||||||||
5.625%, 8/01/24, 144A | $ | 1,300,000 | $ | 1,283,750 | ||||
5.125%, 2/15/27, 144A | 850,000 | 790,500 | ||||||
Sirius XM Radio, Inc. | 3,458,000 | 3,410,280 | ||||||
4.625%, 5/15/23, 144A | 987,000 | 986,013 | ||||||
6.00%, 7/15/24, 144A | 1,560,000 | 1,624,896 | ||||||
5.375%, 4/15/25, 144A | 1,636,000 | 1,664,630 | ||||||
5.375%, 7/15/26, 144A | 1,744,000 | 1,744,000 | ||||||
5.00%, 8/01/27, 144A | 2,900,000 | 2,816,596 | ||||||
TEGNA, Inc. | 201,000 | 203,010 | ||||||
6.375%, 10/15/23 | 2,304,000 | 2,396,160 | ||||||
Telenet Finance Luxembourg Notes Sarl, 144A | 1,800,000 | 1,692,000 | ||||||
Tribune Media Co. | 2,200,000 | 2,244,000 | ||||||
Unitymedia GmbH, 144A | 2,100,000 | 2,205,000 | ||||||
Unitymedia Hessen GmbH & Co. KG / Unitymedia NRW GmbH, 144A | 1,269,000 | 1,295,966 | ||||||
Univision Communications, Inc. | 2,286,000 | 2,177,415 | ||||||
5.125%, 2/15/25, 144A | 2,995,000 | 2,755,400 | ||||||
UPC Holding BV, 144A | 950,000 | 887,063 | ||||||
UPCB Finance IV Ltd., 144A | 2,301,000 | 2,278,220 | ||||||
Videotron Ltd. | 1,676,000 | 1,711,615 | ||||||
5.375%, 6/15/24, 144A | 1,181,000 | 1,217,906 | ||||||
5.125%, 4/15/27, 144A | 1,069,000 | 1,060,983 | ||||||
Virgin Media Finance PLC | 600,000 | 621,000 | ||||||
6.00%, 10/15/24, 144A | 1,085,000 | 1,075,506 | ||||||
5.75%, 1/15/25, 144A | 723,000 | 699,503 | ||||||
Virgin Media Secured Finance PLC | 275,000 | 282,563 | ||||||
5.50%, 1/15/25, 144A | 590,000 | 583,363 | ||||||
5.25%, 1/15/26, 144A | 2,300,000 | 2,245,835 | ||||||
5.50%, 8/15/26, 144A | 1,333,000 | 1,313,005 | ||||||
Ziggo Bond Finance BV | 1,100,000 | 1,032,625 | ||||||
6.00%, 1/15/27, 144A | 1,240,000 | 1,128,400 | ||||||
Ziggo BV, 144A | 3,598,000 | 3,397,879 | ||||||
|
| |||||||
199,037,699 | ||||||||
|
| |||||||
Telecommunications — 9.4% | ||||||||
Anixter, Inc. | 751,500 | 775,924 | ||||||
CenturyLink, Inc. | 1,568,000 | 1,607,200 | ||||||
Series S, 6.45%, 6/15/21 | 2,404,000 | 2,512,180 | ||||||
Series T, 5.80%, 3/15/22 | 2,942,000 | 3,022,022 | ||||||
Series W, 6.75%, 12/01/23 (a) | 1,700,000 | 1,776,500 |
Principal | Value | |||||||
Telecommunications (Continued) | ||||||||
Series Y, 7.50%, 4/01/24 (a) | $ | 1,895,000 | $ | 2,032,387 | ||||
5.625%, 4/01/25 (a) | 1,170,000 | 1,146,600 | ||||||
Cincinnati Bell, Inc., 144A | 1,300,000 | 1,150,500 | ||||||
CommScope Technologies LLC | 2,696,000 | 2,803,840 | ||||||
5.00%, 3/15/27, 144A | 1,335,000 | 1,301,625 | ||||||
CommScope, Inc. | 1,218,000 | 1,228,657 | ||||||
5.50%, 6/15/24, 144A | 1,610,000 | 1,636,162 | ||||||
Consolidated Communications, Inc. | 784,000 | 743,820 | ||||||
DKT Finance ApS, 144A | 700,000 | 742,000 | ||||||
Frontier Communications Corp. | 1,600,000 | 1,296,000 | ||||||
10.50%, 9/15/22 (a) | 3,900,000 | 3,451,500 | ||||||
7.125%, 1/15/23 | 2,100,000 | 1,441,125 | ||||||
7.625%, 4/15/24 | 2,000,000 | 1,270,000 | ||||||
6.875%, 1/15/25 (a) | 1,650,000 | 973,500 | ||||||
11.00%, 9/15/25 (a) | 5,896,000 | 4,539,920 | ||||||
8.50%, 4/01/26, 144A | 3,389,000 | 3,201,080 | ||||||
GTH Finance BV | 500,000 | 507,252 | ||||||
7.25%, 4/26/23, 144A | 1,580,000 | 1,647,567 | ||||||
GTT Communications, Inc., 144A | 1,425,000 | 1,353,750 | ||||||
Hughes Satellite Systems Corp. | 1,985,000 | 2,143,800 | ||||||
5.25%, 8/01/26 | 1,525,000 | 1,464,000 | ||||||
6.625%, 8/01/26 | 1,241,000 | 1,191,360 | ||||||
Inmarsat Finance PLC | 2,200,000 | 2,216,500 | ||||||
6.50%, 10/01/24, 144A | 721,000 | 742,630 | ||||||
Intelsat Connect Finance SA, 144A | 2,000,000 | 1,995,900 | ||||||
Intelsat Jackson Holdings SA | 5,200,000 | 5,219,500 | ||||||
7.50%, 4/01/21 | 2,642,000 | 2,671,722 | ||||||
9.50%, 9/30/22, 144A | 1,702,000 | 1,982,830 | ||||||
5.50%, 8/01/23 | 3,660,000 | 3,347,802 | ||||||
8.00%, 2/15/24, 144A | 1,162,000 | 1,225,910 | ||||||
9.75%, 7/15/25, 144A | 2,506,000 | 2,659,492 | ||||||
Intelsat Luxembourg SA | 3,761,000 | 3,643,469 | ||||||
8.125%, 6/01/23 | 2,539,000 | 2,212,104 | ||||||
Level 3 Financing, Inc. | 819,000 | 824,889 | ||||||
5.375%, 8/15/22 | 1,457,000 | 1,475,212 | ||||||
5.625%, 2/01/23 | 1,960,000 | 1,988,832 | ||||||
5.125%, 5/01/23 | 1,619,000 | 1,621,574 | ||||||
5.375%, 1/15/24 | 1,659,000 | 1,663,148 | ||||||
5.375%, 5/01/25 | 1,102,000 | 1,090,980 | ||||||
5.25%, 3/15/26 | 1,555,000 | 1,527,943 | ||||||
Level 3 Parent LLC | 1,301,000 | 1,314,010 |
See Notes to Financial Statements. | 56 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Telecommunications (Continued) | ||||||||
Nokia OYJ | $ | 2,165,000 | $ | 2,121,440 | ||||
4.375%, 6/12/27 | 637,000 | 613,909 | ||||||
Qwest Corp. | 1,362,000 | 1,462,509 | ||||||
Sable International Finance Ltd., 144A | 1,508,000 | 1,573,975 | ||||||
Sprint Communications, Inc. | 2,405,000 | 2,504,206 | ||||||
7.00%, 8/15/20 | 3,007,000 | 3,157,350 | ||||||
11.50%, 11/15/21 | 2,500,000 | 2,956,250 | ||||||
6.00%, 11/15/22 | 3,574,000 | 3,626,502 | ||||||
Sprint Corp. | 4,562,000 | 4,794,388 | ||||||
7.875%, 9/15/23 | 7,576,000 | 8,172,610 | ||||||
7.125%, 6/15/24 | 4,313,000 | 4,485,520 | ||||||
7.625%, 2/15/25 | 3,500,000 | 3,723,125 | ||||||
7.625%, 3/01/26 | 3,200,000 | 3,368,512 | ||||||
Telecom Italia SpA, 144A | 3,146,000 | 3,149,933 | ||||||
Telefonaktiebolaget LM Ericsson | 1,679,000 | 1,662,560 | ||||||
T-Mobile USA, Inc. | 2,868,000 | 2,857,245 | ||||||
6.00%, 3/01/23 | 1,973,000 | 2,035,544 | ||||||
6.50%, 1/15/24 | 1,382,000 | 1,433,825 | ||||||
6.00%, 4/15/24 | 2,102,000 | 2,186,080 | ||||||
6.375%, 3/01/25 | 4,158,000 | 4,334,715 | ||||||
5.125%, 4/15/25 | 836,000 | 844,745 | ||||||
6.50%, 1/15/26 | 3,123,000 | 3,309,412 | ||||||
4.50%, 2/01/26 | 2,220,000 | 2,120,100 | ||||||
5.375%, 4/15/27 | 796,000 | 802,129 | ||||||
4.75%, 2/01/28 | 2,144,000 | 2,021,899 | ||||||
VEON Holdings BV | 700,000 | 675,787 | ||||||
7.504%, 3/01/22, 144A | 1,240,000 | 1,324,308 | ||||||
5.95%, 2/13/23, 144A | 1,750,000 | 1,753,850 | ||||||
4.95%, 6/16/24, 144A | 1,700,000 | 1,615,510 | ||||||
Wind Tre SpA, 144A | 3,750,000 | 3,373,744 | ||||||
Windstream Services LLC / Windstream Finance Corp. | 179,000 | 96,660 | ||||||
10.50%, 6/30/24, 144A | 1,077,000 | 872,370 | ||||||
9.00%, 6/30/25, 144A | 2,187,000 | 1,591,043 | ||||||
8.625%, 10/31/25, 144A | 1,300,000 | 1,218,750 | ||||||
WTT Investment Ltd., 144A | 1,165,000 | 1,170,112 | ||||||
|
| |||||||
169,395,335 | ||||||||
|
| |||||||
Consumer, Cyclical — 12.3% |
| |||||||
Airlines — 0.3% |
| |||||||
Air Canada, 144A | 944,000 | 1,019,520 | ||||||
American Airlines Group, Inc. | 1,642,000 | 1,670,735 | ||||||
4.625%, 3/01/20, 144A | 1,278,000 | 1,290,460 |
Principal | Value | |||||||
Airlines (Continued) | ||||||||
United Continental Holdings, Inc. | $ | 550,000 | $ | 541,063 | ||||
Virgin Australia Holdings Ltd. | 195,000 | 196,999 | ||||||
7.875%, 10/15/21, 144A | 300,000 | 296,250 | ||||||
|
| |||||||
5,015,027 | ||||||||
|
| |||||||
Apparel — 0.2% | ||||||||
Hanesbrands, Inc. | 1,848,000 | 1,811,040 | ||||||
4.875%, 5/15/26, 144A | 1,700,500 | 1,645,234 | ||||||
Levi Strauss & Co. | 1,015,000 | 1,025,150 | ||||||
|
| |||||||
4,481,424 | ||||||||
|
| |||||||
Auto Manufacturers — 0.9% | ||||||||
Allison Transmission, Inc. | 1,076,000 | 1,062,550 | ||||||
4.75%, 10/01/27, 144A | 997,000 | 939,672 | ||||||
Fiat Chrysler Automobiles NV | 3,294,000 | 3,322,822 | ||||||
5.25%, 4/15/23 (a) | 2,217,000 | 2,258,569 | ||||||
Jaguar Land Rover Automotive PLC | 1,127,000 | 1,127,000 | ||||||
3.50%, 3/15/20, 144A | 497,000 | 491,409 | ||||||
5.625%, 2/01/23, 144A (a) | 748,000 | 740,520 | ||||||
4.50%, 10/01/27, 144A (a) | 1,200,000 | 1,021,500 | ||||||
Navistar International Corp., 144A | 2,416,000 | 2,524,720 | ||||||
Tesla, Inc., 144A | 3,441,000 | 2,989,369 | ||||||
|
| |||||||
16,478,131 | ||||||||
|
| |||||||
Auto Parts & Equipment — 0.7% | ||||||||
Adient Global Holdings Ltd., 144A | 1,885,000 | 1,705,925 | ||||||
American Axle & Manufacturing, Inc. | 577,000 | 592,146 | ||||||
6.25%, 4/01/25 (a) | 2,137,000 | 2,134,329 | ||||||
6.25%, 3/15/26 | 627,000 | 619,946 | ||||||
6.50%, 4/01/27 (a) | 813,000 | 807,919 | ||||||
Dana, Inc. | 1,000,000 | 996,250 | ||||||
Goodyear Tire & Rubber Co. | 2,114,000 | 2,114,000 | ||||||
5.00%, 5/31/26 (a) | 1,358,000 | 1,279,915 | ||||||
4.875%, 3/15/27 (a) | 1,246,000 | 1,146,320 | ||||||
Tenneco, Inc. | 1,171,000 | 1,042,190 | ||||||
|
| |||||||
12,438,940 | ||||||||
|
| |||||||
Distribution/Wholesale — 0.4% | ||||||||
American Builders & Contractors Supply Co., Inc., 144A | 1,263,000 | 1,270,831 | ||||||
Core & Main LP, 144A | 950,000 | 916,750 |
See Notes to Financial Statements. | 57 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Distribution/Wholesale (Continued) | ||||||||
HD Supply, Inc., 144A | $ | 1,671,000 | $ | 1,760,816 | ||||
KAR Auction Services, Inc., 144A | 1,617,000 | 1,588,702 | ||||||
LKQ Corp. | 1,093,000 | 1,101,198 | ||||||
Univar USA, Inc., 144A | 520,000 | 536,900 | ||||||
|
| |||||||
7,175,197 | ||||||||
|
| |||||||
Entertainment — 1.8% | ||||||||
AMC Entertainment Holdings, Inc. | 2,000,000 | 1,948,760 | ||||||
5.875%, 11/15/26 (a) | 659,000 | 644,172 | ||||||
6.125%, 5/15/27 (a) | 1,042,000 | 1,026,370 | ||||||
Caesars Resort Collection LLC / CRC Finco, Inc., 144A | 3,093,000 | 2,965,414 | ||||||
Cinemark USA, Inc. | 1,148,000 | 1,159,480 | ||||||
4.875%, 6/01/23 | 1,844,000 | 1,830,170 | ||||||
Eldorado Resorts, Inc. | 1,800,000 | 1,838,250 | ||||||
International Game Technology PLC | 1,700,000 | 1,738,250 | ||||||
6.25%, 2/15/22, 144A | 3,013,000 | 3,124,481 | ||||||
6.50%, 2/15/25, 144A | 2,072,000 | 2,185,960 | ||||||
LHMC Finco Sarl, 144A | 1,125,000 | 1,136,250 | ||||||
Live Nation Entertainment, Inc., 144A | 1,117,000 | 1,101,641 | ||||||
Merlin Entertainments PLC, 144A | 405,000 | 413,100 | ||||||
Mohegan Gaming & Entertainment, 144A | 1,116,000 | 1,039,275 | ||||||
Scientific Games International, Inc. | 4,580,000 | 4,860,983 | ||||||
5.00%, 10/15/25, 144A | 2,400,000 | 2,286,000 | ||||||
Six Flags Entertainment Corp. | 1,526,000 | 1,503,110 | ||||||
5.50%, 4/15/27, 144A | 905,000 | 900,475 | ||||||
|
| |||||||
31,702,141 | ||||||||
|
| |||||||
Food Service — 0.3% | ||||||||
Aramark Services, Inc. | 1,887,000 | 1,920,947 | ||||||
5.00%, 4/01/25, 144A | 1,154,000 | 1,164,098 | ||||||
4.75%, 6/01/26 | 1,124,000 | 1,109,950 | ||||||
5.00%, 2/01/28, 144A | 1,600,000 | 1,570,000 | ||||||
|
| |||||||
5,764,995 | ||||||||
|
| |||||||
Home Builders — 1.5% | ||||||||
Beazer Homes USA, Inc. | 1,495,000 | 1,584,237 | ||||||
5.875%, 10/15/27 | 800,000 | 686,000 |
Principal | Value | |||||||
Home Builders (Continued) | ||||||||
Brookfield Residential Properties, Inc., 144A | $ | 425,000 | $ | 428,612 | ||||
Brookfield Residential Properties, Inc. / Brookfield Residential US Corp., 144A | 433,000 | 438,412 | ||||||
K Hovnanian Enterprises, Inc. | 1,158,000 | 1,163,790 | ||||||
10.50%, 7/15/24, 144A | 609,000 | 605,955 | ||||||
KB Home | 1,000,000 | 1,057,500 | ||||||
Lennar Corp. | 435,000 | 439,350 | ||||||
4.75%, 4/01/21 (a) | 962,000 | 977,633 | ||||||
4.125%, 1/15/22 | 870,000 | 867,825 | ||||||
4.75%, 11/15/22 | 1,562,000 | 1,569,810 | ||||||
4.875%, 12/15/23 | 795,000 | 798,975 | ||||||
4.50%, 4/30/24 | 1,097,000 | 1,079,503 | ||||||
5.875%, 11/15/24 | 1,400,000 | 1,459,640 | ||||||
4.75%, 5/30/25 | 505,000 | 498,687 | ||||||
4.75%, 11/29/27 | 1,783,000 | 1,709,451 | ||||||
Mattamy Group Corp. | 862,000 | 881,395 | ||||||
6.50%, 10/01/25, 144A | 752,000 | 744,630 | ||||||
Meritage Homes Corp. | 830,000 | 840,375 | ||||||
PulteGroup, Inc. | 1,104,000 | 1,112,611 | ||||||
5.50%, 3/01/26 | 1,388,000 | 1,382,795 | ||||||
5.00%, 1/15/27 | 1,274,000 | 1,218,263 | ||||||
Taylor Morrison Communities, Inc. / Taylor Morrison Holdings II, Inc., 144A | 1,173,000 | 1,175,933 | ||||||
Toll Brothers Finance Corp. | 1,146,000 | 1,199,003 | ||||||
4.375%, 4/15/23 (a) | 908,000 | 907,065 | ||||||
4.875%, 3/15/27 | 542,000 | 520,320 | ||||||
4.35%, 2/15/28 | 709,000 | 652,280 | ||||||
William Lyon Homes, Inc. | 900,000 | 856,125 | ||||||
|
| |||||||
26,856,175 | ||||||||
|
| |||||||
Home Furnishings — 0.1% | ||||||||
Tempur Sealy International, Inc. | 961,000 | 965,805 | ||||||
5.50%, 6/15/26 | 1,083,000 | 1,058,632 | ||||||
|
| |||||||
2,024,437 | ||||||||
|
| |||||||
Housewares — 0.0% | ||||||||
Scotts Miracle-Gro Co. | 588,000 | 599,760 | ||||||
|
| |||||||
Leisure Time — 0.4% | ||||||||
24 Hour Fitness Worldwide, Inc., 144A | 1,339,000 | 1,346,123 | ||||||
Carlson Travel, Inc., 144A | 400,000 | 403,000 |
See Notes to Financial Statements. | 58 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Leisure Time (Continued) | ||||||||
NCL Corp. Ltd., 144A | $ | 738,000 | $ | 744,458 | ||||
Sabre GLBL, Inc. | 1,609,000 | 1,629,113 | ||||||
5.25%, 11/15/23, 144A | 765,000 | 770,454 | ||||||
Viking Cruises Ltd., 144A | 1,400,000 | 1,379,000 | ||||||
VOC Escrow Ltd., 144A | 125,000 | 121,041 | ||||||
|
| |||||||
6,393,189 | ||||||||
|
| |||||||
Lodging — 2.3% | ||||||||
Boyd Gaming Corp. | 1,965,000 | 2,073,075 | ||||||
6.375%, 4/01/26 | 1,424,000 | 1,461,380 | ||||||
6.00%, 8/15/26 | 1,338,000 | 1,354,725 | ||||||
Diamond Resorts International, Inc. | 1,126,000 | 1,181,951 | ||||||
10.75%, 9/01/24, 144A (a) | 1,366,000 | 1,430,885 | ||||||
Hilton Domestic Operating Co., Inc. | 1,573,000 | 1,533,675 | ||||||
5.125%, 5/01/26, 144A | 2,716,000 | 2,732,975 | ||||||
Hilton Worldwide Finance LLC / Hilton Worldwide Finance Corp. | 2,422,000 | 2,397,780 | ||||||
4.875%, 4/01/27 | 947,000 | 933,979 | ||||||
Jack Ohio Finance LLC / Jack Ohio Finance 1 Corp., 144A | 1,287,000 | 1,335,262 | ||||||
Melco Resorts Finance Ltd., 144A | 1,400,000 | 1,332,702 | ||||||
MGM Resorts International | 555,000 | 567,487 | ||||||
6.75%, 10/01/20 | 965,000 | 1,016,869 | ||||||
6.625%, 12/15/21 | 3,417,000 | 3,622,020 | ||||||
7.75%, 3/15/22 | 1,086,000 | 1,195,957 | ||||||
6.00%, 3/15/23 | 1,803,000 | 1,876,292 | ||||||
5.75%, 6/15/25 | 2,681,000 | 2,713,172 | ||||||
4.625%, 9/01/26 | 1,140,000 | 1,080,150 | ||||||
Station Casinos LLC, 144A | 1,069,000 | 1,035,594 | ||||||
Studio City Co. Ltd., 144A | 2,132,000 | 2,190,630 | ||||||
Studio City Finance Ltd., 144A | 1,000,000 | 1,013,500 | ||||||
Wyndham Destinations, Inc. | 1,400,000 | 1,312,500 | ||||||
4.50%, 4/01/27 | 800,000 | 768,240 | ||||||
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp. | 2,005,000 | 1,929,813 | ||||||
5.50%, 3/01/25, 144A | 1,912,000 | 1,896,513 | ||||||
5.25%, 5/15/27, 144A | 2,394,000 | 2,241,383 | ||||||
|
| |||||||
42,228,509 | ||||||||
|
|
Principal | Value | |||||||
Retail — 3.1% | ||||||||
1011778 BC ULC / New Red Finance, Inc. | $ | 2,440,000 | $ | 2,446,100 | ||||
4.25%, 5/15/24, 144A | 3,035,000 | 2,906,012 | ||||||
5.00%, 10/15/25, 144A | 5,400,000 | 5,238,000 | ||||||
Asbury Automotive Group, Inc. | 1,200,000 | 1,209,000 | ||||||
Beacon Roofing Supply, Inc., 144A | 2,500,000 | 2,318,750 | ||||||
Ferrellgas LP / Ferrellgas Finance Corp. | 1,560,000 | 1,435,200 | ||||||
6.75%, 1/15/22 (a) | 362,000 | 323,990 | ||||||
6.75%, 6/15/23 | 1,285,000 | 1,111,525 | ||||||
Golden Nugget, Inc. | 2,061,000 | 2,099,644 | ||||||
8.75%, 10/01/25, 144A | 1,900,000 | 2,009,250 | ||||||
Group 1 Automotive, Inc. | 1,200,000 | 1,194,000 | ||||||
IRB Holding Corp., 144A | 1,000,000 | 957,500 | ||||||
JC Penney Corp., Inc. | 1,098,000 | 990,945 | ||||||
8.625%, 3/15/25, 144A (a) | 667,000 | 496,915 | ||||||
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC | 1,823,000 | 1,823,000 | ||||||
5.25%, 6/01/26, 144A | 1,744,000 | 1,748,360 | ||||||
4.75%, 6/01/27, 144A | 1,820,000 | 1,738,100 | ||||||
L Brands, Inc. | 885,000 | 933,675 | ||||||
5.625%, 2/15/22 | 552,000 | 560,970 | ||||||
6.694%, 1/15/27, 144A | 2,700,000 | 2,558,250 | ||||||
5.25%, 2/01/28 (a) | 75,000 | 64,594 | ||||||
Michaels Stores, Inc., 144A | 875,000 | 879,375 | ||||||
Neiman Marcus Group Ltd. LLC, 144A | 1,917,000 | 1,308,352 | ||||||
Penske Automotive Group, Inc. | 969,000 | 988,986 | ||||||
5.50%, 5/15/26 | 1,069,000 | 1,050,292 | ||||||
PetSmart, Inc. | 3,253,000 | 2,203,907 | ||||||
5.875%, 6/01/25, 144A | 3,150,000 | 2,571,188 | ||||||
8.875%, 6/01/25, 144A | 1,088,000 | 739,840 | ||||||
QVC, Inc. | 601,000 | 613,717 | ||||||
4.375%, 3/15/23 | 1,197,000 | 1,185,093 | ||||||
4.85%, 4/01/24 | 1,843,000 | 1,845,353 | ||||||
4.45%, 2/15/25 | 1,070,000 | 1,028,895 | ||||||
Rite Aid Corp., 144A | 3,450,000 | 3,112,590 | ||||||
Sears Holdings Corp. | 491,000 | 199,469 | ||||||
Staples, Inc., 144A | 2,034,000 | 1,927,012 | ||||||
Suburban Propane Partners LP/Suburban Energy Finance Corp. | 1,178,000 | 1,160,330 | ||||||
|
| |||||||
54,978,179 | ||||||||
|
|
See Notes to Financial Statements. | 59 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Storage / Warehousing — 0.1% | ||||||||
Algeco Global Finance PLC, 144A | $ | 1,188,000 | $ | 1,226,610 | ||||
|
| |||||||
Toys/Games/Hobbies — 0.2% | ||||||||
Mattel, Inc., 144A | 2,945,000 | 2,891,813 | ||||||
|
| |||||||
Consumer, Non-cyclical — 18.4% |
| |||||||
Agriculture — 0.1% |
| |||||||
Vector Group Ltd., 144A | 1,600,000 | 1,540,000 | ||||||
|
| |||||||
Commercial Services — 3.7% | ||||||||
ADT Corp. | 3,089,000 | 3,274,340 | ||||||
3.50%, 7/15/22 | 2,173,000 | 2,064,350 | ||||||
4.125%, 6/15/23 (a) | 269,000 | 256,559 | ||||||
Ahern Rentals, Inc., 144A | 1,345,000 | 1,329,936 | ||||||
APX Group, Inc. | 2,110,000 | 2,115,275 | ||||||
7.875%, 12/01/22 (a) | 1,585,000 | 1,622,644 | ||||||
7.625%, 9/01/23 (a) | 780,000 | 706,875 | ||||||
Avis Budget Car Rental LLC / Avis Budget Finance, Inc. | 937,000 | 934,657 | ||||||
5.50%, 4/01/23 (a) | 1,234,000 | 1,232,457 | ||||||
Brink’s Co., 144A | 1,063,000 | 996,562 | ||||||
Gartner, Inc., 144A | 1,620,000 | 1,644,300 | ||||||
Herc Rentals, Inc. | 1,000,000 | 1,051,250 | ||||||
7.75%, 6/01/24, 144A | 1,105,000 | 1,197,212 | ||||||
Hertz Corp. | 1,097,000 | 1,096,660 | ||||||
7.375%, 1/15/21 (a) | 911,000 | 914,416 | ||||||
7.625%, 6/01/22, 144A (a) | 2,349,000 | 2,337,255 | ||||||
6.25%, 10/15/22 (a) | 898,000 | 841,875 | ||||||
5.50%, 10/15/24, 144A (a) | 1,800,000 | 1,516,500 | ||||||
Jaguar Holding Co. II / Pharmaceutical Product Development LLC, 144A | 1,955,000 | 1,969,662 | ||||||
Laureate Education, Inc., 144A | 1,400,000 | 1,513,750 | ||||||
Monitronics International, Inc. | 934,000 | 691,160 | ||||||
Nielsen Co. Luxembourg SARL | 1,072,000 | 1,076,020 | ||||||
5.00%, 2/01/25, 144A | 1,000,000 | 975,000 | ||||||
Nielsen Finance LLC / Nielsen Finance Co. | 700,000 | 700,000 | ||||||
5.00%, 4/15/22, 144A | 4,661,000 | 4,537,717 | ||||||
Prime Security Services Borrower LLC / Prime Finance, Inc., 144A | 4,415,000 | 4,740,827 | ||||||
RR Donnelley & Sons Co. | 1,248,000 | 1,321,320 |
Principal | Value | |||||||
Commercial Services (Continued) | ||||||||
Service Corp. International | $ | 712,000 | $ | 724,257 | ||||
5.375%, 5/15/24 | 1,799,000 | 1,841,726 | ||||||
4.625%, 12/15/27 | 1,089,000 | 1,048,163 | ||||||
ServiceMaster Co. LLC, 144A | 1,600,000 | 1,576,000 | ||||||
Team Health Holdings, Inc., 144A | 1,649,000 | 1,438,753 | ||||||
United Rentals North America, Inc. | 2,294,000 | 2,327,263 | ||||||
5.75%, 11/15/24 | 1,864,000 | 1,931,011 | ||||||
5.50%, 7/15/25 | 2,000,000 | 2,047,500 | ||||||
4.625%, 10/15/25 | 1,321,000 | 1,294,580 | ||||||
5.875%, 9/15/26 | 3,500,000 | 3,618,125 | ||||||
5.50%, 5/15/27 | 2,164,000 | 2,164,000 | ||||||
4.875%, 1/15/28 | 1,173,000 | 1,120,948 | ||||||
Verscend Escrow Corp., 144A | 2,200,000 | 2,259,840 | ||||||
WEX, Inc., 144A | 687,000 | 691,294 | ||||||
|
| |||||||
66,742,039 | ||||||||
|
| |||||||
Cosmetics/Personal Care — 0.5% | ||||||||
Avon Products, Inc. | 1,200,000 | 1,204,608 | ||||||
7.00%, 3/15/23 | 927,000 | 799,537 | ||||||
Coty, Inc., 144A | 1,200,000 | 1,131,750 | ||||||
Edgewell Personal Care Co. | 931,000 | 942,638 | ||||||
4.70%, 5/24/22 | 830,000 | 828,174 | ||||||
First Quality Finance Co., Inc. | 1,336,000 | 1,325,980 | ||||||
5.00%, 7/01/25, 144A | 771,000 | 724,740 | ||||||
Revlon Consumer Products Corp. | 1,257,000 | 1,037,025 | ||||||
6.25%, 8/01/24 | 600,000 | 351,000 | ||||||
|
| |||||||
8,345,452 | ||||||||
|
| |||||||
Food — 1.7% | ||||||||
Albertsons Cos. LLC / Safeway, Inc. / New Albertsons LP / Albertson’s LLC | 1,958,000 | 1,899,260 | ||||||
5.75%, 3/15/25 | 2,800,000 | 2,548,000 | ||||||
B&G Foods, Inc. | 1,487,000 | 1,483,282 | ||||||
5.25%, 4/01/25 (a) | 1,271,000 | 1,237,636 | ||||||
Barry Callebaut Services NV, 144A | 400,000 | 416,400 | ||||||
Darling Ingredients, Inc. | 663,000 | 672,116 | ||||||
Lamb Weston Holdings, Inc. | 2,975,000 | 2,937,812 | ||||||
4.875%, 11/01/26, 144A | 501,000 | 494,738 | ||||||
Pilgrim’s Pride Corp. | 1,521,000 | 1,475,370 | ||||||
5.875%, 9/30/27, 144A | 2,101,000 | 2,001,203 |
See Notes to Financial Statements. | 60 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Food (Continued) | ||||||||
Post Holdings, Inc. | $ | 1,750,000 | $ | 1,750,000 | ||||
5.00%, 8/15/26, 144A | 2,999,000 | 2,886,538 | ||||||
5.75%, 3/01/27, 144A | 2,767,000 | 2,739,330 | ||||||
5.625%, 1/15/28, 144A | 2,204,000 | 2,137,880 | ||||||
Sigma Holdco BV, 144A | 1,375,000 | 1,306,250 | ||||||
TreeHouse Foods, Inc. | 800,000 | 803,000 | ||||||
6.00%, 2/15/24, 144A (a) | 1,800,000 | 1,829,250 | ||||||
US Foods, Inc., 144A | 1,575,000 | 1,594,688 | ||||||
|
| |||||||
30,212,753 | ||||||||
|
| |||||||
Healthcare-Products — 1.4% | ||||||||
Avantor, Inc. | 2,777,000 | 2,825,597 | ||||||
9.00%, 10/01/25, 144A | 4,009,000 | 4,144,304 | ||||||
DJO Finance LLC / DJO Finance Corp., 144A | 1,867,000 | 1,937,573 | ||||||
Hill-Rom Holdings, Inc., 144A | 516,000 | 534,060 | ||||||
Hologic, Inc. | 1,500,000 | 1,451,250 | ||||||
4.625%, 2/01/28, 144A | 1,085,000 | 1,022,612 | ||||||
Kinetic Concepts, Inc. / KCI USA, Inc. | 900,000 | 931,500 | ||||||
12.50%, 11/01/21, 144A | 1,400,000 | 1,540,000 | ||||||
Mallinckrodt International Finance SA | 932,000 | 813,170 | ||||||
Mallinckrodt International Finance SA / Mallinckrodt CB LLC | 1,275,000 | 1,276,594 | ||||||
5.75%, 8/01/22, 144A | 1,950,000 | 1,828,125 | ||||||
5.625%, 10/15/23, 144A (a) | 1,565,000 | 1,402,631 | ||||||
5.50%, 4/15/25, 144A (a) | 1,490,000 | 1,279,538 | ||||||
Ortho-Clinical Diagnostics, Inc. / Ortho-Clinical Diagnostics SA, 144A | 2,600,000 | 2,564,250 | ||||||
Sotera Health Holdings LLC, 144A | 890,000 | 918,391 | ||||||
Teleflex, Inc. | 511,000 | 505,890 | ||||||
4.625%, 11/15/27 | 1,116,000 | 1,067,175 | ||||||
|
| |||||||
26,042,660 | ||||||||
|
| |||||||
Healthcare-Services — 7.9% | ||||||||
Acadia Healthcare Co., Inc. | 1,400,000 | 1,435,000 | ||||||
AHP Health Partners, Inc., 144A | 1,110,000 | 1,168,275 | ||||||
Catalent Pharma Solutions, Inc., 144A | 760,000 | 728,650 | ||||||
Centene Corp. | 1,647,000 | 1,684,057 | ||||||
4.75%, 5/15/22 | 4,717,000 | 4,823,132 |
Principal | Value | |||||||
Healthcare-Services (Continued) | ||||||||
6.125%, 2/15/24 | $ | 1,308,000 | $ | 1,378,305 | ||||
4.75%, 1/15/25 | 1,675,000 | 1,687,562 | ||||||
5.375%, 6/01/26, 144A | 3,500,000 | 3,621,905 | ||||||
Charles River Laboratories International, Inc., 144A | 1,000,000 | 1,017,500 | ||||||
CHS/Community Health Systems, Inc. | 2,000,000 | 1,940,000 | ||||||
6.875%, 2/01/22 | 5,150,000 | 2,652,250 | ||||||
6.25%, 3/31/23 | 6,450,000 | 6,159,750 | ||||||
11.00%, 6/30/23, 144A (a) | 3,409,000 | 3,068,100 | ||||||
8.625%, 1/15/24, 144A | 1,600,000 | 1,672,000 | ||||||
8.125%, 6/30/24, 144A (a) | 2,552,000 | 2,111,780 | ||||||
DaVita, Inc. | 1,650,000 | 1,676,812 | ||||||
5.125%, 7/15/24 | 3,311,000 | 3,208,756 | ||||||
5.00%, 5/01/25 | 3,100,000 | 2,952,750 | ||||||
Eagle Holding Co. II LLC, 144A | 350,000 | 355,250 | ||||||
Encompass Health Corp. | 2,700,000 | 2,743,875 | ||||||
Envision Healthcare Corp. | 1,800,000 | 1,836,000 | ||||||
5.625%, 7/15/22 | 1,950,000 | 2,008,500 | ||||||
6.25%, 12/01/24, 144A | 1,200,000 | 1,287,000 | ||||||
HCA Healthcare, Inc. | 3,105,000 | 3,252,488 | ||||||
HCA, Inc. | 1,185,000 | 1,201,187 | ||||||
6.50%, 2/15/20 | 4,160,000 | 4,328,480 | ||||||
7.50%, 2/15/22 | 3,979,000 | 4,376,900 | ||||||
5.875%, 3/15/22 | 3,319,000 | 3,534,735 | ||||||
4.75%, 5/01/23 | 1,507,000 | 1,535,256 | ||||||
5.875%, 5/01/23 | 1,756,000 | 1,848,190 | ||||||
5.00%, 3/15/24 | 3,928,000 | 4,026,200 | ||||||
5.375%, 2/01/25 | 5,414,000 | 5,489,417 | ||||||
5.25%, 4/15/25 | 2,743,000 | 2,835,576 | ||||||
5.875%, 2/15/26 | 2,344,000 | 2,428,970 | ||||||
5.25%, 6/15/26 | 4,430,000 | 4,573,975 | ||||||
5.375%, 9/01/26 | 2,190,000 | 2,206,425 | ||||||
4.50%, 2/15/27 | 1,339,000 | 1,328,958 | ||||||
5.625%, 9/01/28 | 2,000,000 | 2,010,000 | ||||||
LifePoint Health, Inc. | 1,251,000 | 1,276,020 | ||||||
5.875%, 12/01/23 | 1,400,000 | 1,472,114 | ||||||
5.375%, 5/01/24 | 1,164,000 | 1,213,470 | ||||||
MEDNAX, Inc., 144A | 1,473,000 | 1,473,000 | ||||||
Molina Healthcare, Inc. | 1,288,000 | 1,320,200 | ||||||
MPH Acquisition Holdings LLC, 144A | 3,254,000 | 3,376,025 | ||||||
One Call Corp., 144A | 800,000 | 684,000 | ||||||
Quorum Health Corp. | 840,000 | 840,000 |
See Notes to Financial Statements. | 61 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Healthcare-Services (Continued) | ||||||||
RegionalCare Hospital Partners Holdings, Inc., 144A | $ | 1,700,000 | $ | 1,814,750 | ||||
Select Medical Corp. | 1,594,000 | 1,615,918 | ||||||
Surgery Center Holdings, Inc., 144A | 827,000 | 865,249 | ||||||
Tenet Healthcare Corp. | 1,180,000 | 1,197,700 | ||||||
6.00%, 10/01/20 | 2,485,000 | 2,590,613 | ||||||
4.50%, 4/01/21 | 2,203,000 | 2,211,261 | ||||||
4.375%, 10/01/21 | 2,875,000 | 2,882,188 | ||||||
7.50%, 1/01/22, 144A | 1,583,000 | 1,663,638 | ||||||
8.125%, 4/01/22 | 6,089,000 | 6,454,340 | ||||||
6.75%, 6/15/23 | 3,147,000 | 3,158,801 | ||||||
4.625%, 7/15/24 | 3,518,000 | 3,454,782 | ||||||
5.125%, 5/01/25 | 2,150,000 | 2,139,250 | ||||||
7.00%, 8/01/25 | 1,015,000 | 1,016,903 | ||||||
WellCare Health Plans, Inc. | 1,601,000 | 1,641,025 | ||||||
5.375%, 8/15/26, 144A | 1,500,000 | 1,548,750 | ||||||
|
| |||||||
142,103,963 | ||||||||
|
| |||||||
Household Products/Wares — 0.3% | ||||||||
Prestige Brands, Inc. | 138,000 | 138,690 | ||||||
6.375%, 3/01/24, 144A (a) | 1,600,000 | 1,622,480 | ||||||
Spectrum Brands, Inc. | 611,000 | 630,094 | ||||||
5.75%, 7/15/25 | 2,293,000 | 2,327,395 | ||||||
|
| |||||||
4,718,659 | ||||||||
|
| |||||||
Pharmaceuticals — 2.8% | ||||||||
Bausch Health Cos., Inc. | 3,000,500 | 3,053,774 | ||||||
5.625%, 12/01/21, 144A | 2,800,000 | 2,782,500 | ||||||
6.50%, 3/15/22, 144A | 3,101,000 | 3,217,287 | ||||||
5.50%, 3/01/23, 144A | 2,400,000 | 2,274,312 | ||||||
5.875%, 5/15/23, 144A | 5,942,000 | 5,702,834 | ||||||
7.00%, 3/15/24, 144A | 2,979,000 | 3,154,016 | ||||||
6.125%, 4/15/25, 144A | 6,236,000 | 5,822,865 | ||||||
5.50%, 11/01/25, 144A | 3,774,000 | 3,778,718 | ||||||
9.00%, 12/15/25, 144A | 3,030,000 | 3,215,588 | ||||||
9.25%, 4/01/26, 144A | 2,163,000 | 2,299,875 | ||||||
8.50%, 1/31/27, 144A | 1,550,000 | 1,596,500 | ||||||
Elanco Animal Health, Inc. | 1,800,000 | 1,811,628 | ||||||
4.90%, 8/28/28, 144A | 1,600,000 | 1,614,174 | ||||||
Endo Dac / Endo Finance LLC / Endo Finco, Inc. | 3,154,000 | 2,728,210 | ||||||
6.00%, 2/01/25, 144A | 1,887,000 | 1,570,927 | ||||||
Endo Finance LLC, 144A | 1,900,000 | 1,767,000 | ||||||
Endo Finance LLC / Endo Finco, Inc., 144A | 1,727,000 | 1,485,220 |
Principal | Value | |||||||
Pharmaceuticals (Continued) | ||||||||
Horizon Pharma, Inc. | $ | 862,000 | $ | 881,395 | ||||
Vizient, Inc., 144A | 1,475,000 | 1,618,813 | ||||||
|
| |||||||
50,375,636 | ||||||||
|
| |||||||
Diversified — 0.1% |
| |||||||
Holding Companies-Diversified — 0.1% |
| |||||||
Spectrum Brands Holdings, Inc. | 1,008,000 | 1,038,240 | ||||||
Stena AB, 144A | 736,000 | 693,680 | ||||||
|
| |||||||
1,731,920 | ||||||||
|
| |||||||
Energy — 13.5% |
| |||||||
Coal — 0.1% |
| |||||||
Peabody Energy Corp. | 974,000 | 981,305 | ||||||
6.375%, 3/31/25, 144A (a) | 1,195,000 | 1,215,913 | ||||||
|
| |||||||
2,197,218 | ||||||||
|
| |||||||
Energy-Alternate Sources — 0.1% | ||||||||
TerraForm Power Operating LLC | 775,000 | 757,563 | ||||||
5.00%, 1/31/28, 144A | 1,413,000 | 1,328,220 | ||||||
|
| |||||||
2,085,783 | ||||||||
|
| |||||||
Oil & Gas — 9.4% | ||||||||
Aker BP ASA | 670,000 | 691,356 | ||||||
5.875%, 3/31/25, 144A | 765,000 | 796,556 | ||||||
Antero Resources Corp. | 1,852,000 | 1,889,040 | ||||||
5.125%, 12/01/22 | 1,952,000 | 1,981,280 | ||||||
5.625%, 6/01/23 | 1,213,000 | 1,254,303 | ||||||
5.00%, 3/01/25 | 1,750,500 | 1,772,381 | ||||||
Ascent Resources Utica Holdings LLC / ARU Finance Corp., 144A | 3,145,000 | 3,490,950 | ||||||
Baytex Energy Corp. | 489,000 | 477,997 | ||||||
5.625%, 6/01/24, 144A | 515,000 | 489,250 | ||||||
Bruin E&P Partners LLC, 144A | 1,000,000 | 1,037,500 | ||||||
California Resources Corp., 144A | 4,568,000 | 4,116,910 | ||||||
Calumet Specialty Products Partners LP / Calumet Finance Corp. | 1,800,000 | 1,782,000 | ||||||
Carrizo Oil & Gas, Inc. | 1,627,000 | 1,671,742 | ||||||
Chesapeake Energy Corp. | 417,000 | 434,722 | ||||||
6.125%, 2/15/21 | 1,545,000 | 1,583,625 | ||||||
4.875%, 4/15/22 (a) | 1,176,000 | 1,140,720 | ||||||
8.00%, 12/15/22, 144A | 2,619,000 | 2,756,497 | ||||||
8.00%, 1/15/25 | 2,215,000 | 2,267,606 | ||||||
8.00%, 6/15/27 | 2,529,000 | 2,566,935 |
See Notes to Financial Statements. | 62 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Oil & Gas (Continued) | ||||||||
Citgo Holding, Inc., 144A | $ | 3,152,000 | $ | 3,380,520 | ||||
CITGO Petroleum Corp., 144A | 1,588,000 | 1,607,850 | ||||||
CNX Resources Corp. | 1,902,000 | 1,906,660 | ||||||
Continental Resources, Inc. | 3,060,000 | 3,101,278 | ||||||
4.50%, 4/15/23 | 2,510,000 | 2,570,536 | ||||||
3.80%, 6/01/24 | 1,608,000 | 1,585,614 | ||||||
4.375%, 1/15/28 | 2,070,000 | 2,060,830 | ||||||
CrownRock LP / CrownRock Finance, Inc., 144A | 2,068,000 | 2,016,300 | ||||||
Denbury Resources, Inc. | 1,325,000 | 1,431,000 | ||||||
9.25%, 3/31/22, 144A | 793,000 | 849,501 | ||||||
Diamond Offshore Drilling, Inc. | 1,015,000 | 1,037,837 | ||||||
Diamondback Energy, Inc. | 958,000 | 967,580 | ||||||
5.375%, 5/31/25 | 1,012,000 | 1,038,565 | ||||||
Endeavor Energy Resources LP / EER Finance, Inc. | 1,000,000 | 1,002,500 | ||||||
5.75%, 1/30/28, 144A | 1,148,000 | 1,149,435 | ||||||
Ensco PLC | 1,171,000 | 976,321 | ||||||
5.20%, 3/15/25 (a) | 2,135,000 | 1,793,400 | ||||||
7.75%, 2/01/26 | 1,438,000 | 1,378,682 | ||||||
EP Energy LLC / Everest Acquisition Finance, Inc. | 2,066,000 | 1,637,305 | ||||||
8.00%, 11/29/24, 144A (a) | 1,277,000 | 1,286,577 | ||||||
8.00%, 2/15/25, 144A | 1,942,000 | 1,412,805 | ||||||
7.75%, 5/15/26, 144A | 1,755,000 | 1,798,875 | ||||||
Extraction Oil & Gas, Inc. | 1,915,000 | 1,958,087 | ||||||
5.625%, 2/01/26, 144A | 666,000 | 626,872 | ||||||
Gulfport Energy Corp. | 1,679,000 | 1,666,407 | ||||||
6.375%, 5/15/25 | 1,700,000 | 1,691,500 | ||||||
6.375%, 1/15/26 | 151,000 | 147,603 | ||||||
Hilcorp Energy I LP / Hilcorp Finance Co. | 1,200,000 | 1,165,500 | ||||||
5.75%, 10/01/25, 144A | 1,475,000 | 1,471,313 | ||||||
Jones Energy Holdings LLC / Jones Energy Finance Corp. | 1,000,000 | 615,000 | ||||||
9.25%, 3/15/23, 144A | 729,000 | 741,758 | ||||||
Jupiter Resources, Inc., 144A | 2,000,000 | 1,015,000 | ||||||
MEG Energy Corp. | 1,597,000 | 1,457,263 | ||||||
7.00%, 3/31/24, 144A | 1,700,000 | 1,551,250 | ||||||
6.50%, 1/15/25, 144A | 2,150,000 | 2,147,313 |
Principal | Value | |||||||
Oil & Gas (Continued) | ||||||||
Murphy Oil Corp. | $ | 903,000 | $ | 892,953 | ||||
4.45%, 12/01/22 | 1,441,000 | 1,441,893 | ||||||
6.875%, 8/15/24 | 693,000 | 733,975 | ||||||
5.75%, 8/15/25 | 852,000 | 856,050 | ||||||
Nabors Industries, Inc. | 1,150,000 | 1,159,939 | ||||||
4.625%, 9/15/21 | 1,057,000 | 1,055,427 | ||||||
5.50%, 1/15/23 (a) | 1,999,000 | 2,003,736 | ||||||
5.75%, 2/01/25, 144A | 1,206,000 | 1,163,295 | ||||||
Newfield Exploration Co. | 1,673,000 | 1,773,380 | ||||||
5.625%, 7/01/24 | 2,000,000 | 2,142,500 | ||||||
5.375%, 1/01/26 | 1,273,000 | 1,333,468 | ||||||
Noble Holding International Ltd. | 1,500,000 | 1,473,750 | ||||||
7.95%, 4/01/25 (a) | 991,000 | 946,405 | ||||||
7.875%, 2/01/26, 144A (a) | 1,423,000 | 1,463,911 | ||||||
Oasis Petroleum, Inc. | 1,283,000 | 1,308,660 | ||||||
6.25%, 5/01/26, 144A | 800,000 | 815,000 | ||||||
Parkland Fuel Corp., 144A | 1,050,000 | 1,052,625 | ||||||
Parsley Energy LLC / Parsley Finance Corp. | 569,000 | 594,605 | ||||||
5.375%, 1/15/25, 144A | 2,759,000 | 2,793,212 | ||||||
5.25%, 8/15/25, 144A | 1,022,000 | 1,019,445 | ||||||
5.625%, 10/15/27, 144A | 414,000 | 420,210 | ||||||
PBF Holding Co LLC / PBF Finance Corp. | 807,000 | 853,403 | ||||||
PBF Holding Co. LLC / PBF Finance Corp. | 1,741,000 | 1,828,050 | ||||||
PDC Energy, Inc. | 1,900,000 | 1,900,000 | ||||||
5.75%, 5/15/26 | 330,000 | 321,338 | ||||||
Precision Drilling Corp., 144A | 744,000 | 767,250 | ||||||
Puma International Financing SA | 1,000,000 | 902,240 | ||||||
5.00%, 1/24/26, 144A | 1,300,000 | 1,149,616 | ||||||
QEP Resources, Inc. | 701,000 | 708,220 | ||||||
5.25%, 5/01/23 | 1,370,000 | 1,342,600 | ||||||
5.625%, 3/01/26 | 1,164,000 | 1,117,440 | ||||||
Range Resources Corp. | 1,221,000 | 1,254,578 | ||||||
5.00%, 8/15/22 | 1,107,000 | 1,095,930 | ||||||
5.00%, 3/15/23 | 1,600,000 | 1,573,280 | ||||||
4.875%, 5/15/25 (a) | 1,428,000 | 1,374,450 | ||||||
Rowan Cos., Inc. | 1,200,000 | 1,122,000 | ||||||
7.375%, 6/15/25 (a) | 1,036,000 | 999,740 |
See Notes to Financial Statements. | 63 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Oil & Gas (Continued) | ||||||||
Sable Permian Resources Land LLC / AEPB Finance Corp. | $ | 1,110,000 | $ | 715,950 | ||||
13.00%, 11/30/20, 144A | 780,000 | 865,800 | ||||||
7.375%, 11/01/21, 144A (a) | 1,205,000 | 759,150 | ||||||
Sanchez Energy Corp. | 886,000 | 620,200 | ||||||
6.125%, 1/15/23 | 2,400,000 | 1,367,160 | ||||||
7.25%, 2/15/23, 144A (a) | 1,131,000 | 1,105,553 | ||||||
Seven Generations Energy Ltd. | 750,000 | 778,125 | ||||||
6.875%, 6/30/23, 144A | 1,016,000 | 1,061,720 | ||||||
5.375%, 9/30/25, 144A | 1,045,000 | 1,016,263 | ||||||
SM Energy Co. | 760,000 | 785,650 | ||||||
5.00%, 1/15/24 (a) | 1,200,000 | 1,170,000 | ||||||
5.625%, 6/01/25 (a) | 1,022,000 | 1,016,890 | ||||||
6.75%, 9/15/26 (a) | 955,000 | 994,394 | ||||||
6.625%, 1/15/27 | 1,000,000 | 1,032,540 | ||||||
Southwestern Energy Co. | 1,560,000 | 1,528,800 | ||||||
6.20%, 1/23/25 | 1,350,000 | 1,356,750 | ||||||
7.50%, 4/01/26 | 2,377,000 | 2,501,793 | ||||||
7.75%, 10/01/27 (a) | 974,000 | 1,034,875 | ||||||
Sunoco LP / Sunoco Finance Corp. | 1,900,000 | 1,879,176 | ||||||
5.50%, 2/15/26, 144A | 1,600,000 | 1,536,000 | ||||||
5.875%, 3/15/28, 144A | 775,000 | 744,000 | ||||||
Transocean, Inc. | 1,424,000 | 1,413,320 | ||||||
9.00%, 7/15/23, 144A | 2,008,000 | 2,171,150 | ||||||
7.50%, 1/15/26, 144A | 1,201,000 | 1,226,521 | ||||||
Ultra Resources, Inc. | 1,382,000 | 680,635 | ||||||
7.125%, 4/15/25, 144A (a) | 860,000 | 384,850 | ||||||
Whiting Petroleum Corp. | 2,100,000 | 2,157,750 | ||||||
6.25%, 4/01/23 | 496,950 | 513,101 | ||||||
6.625%, 1/15/26 (a) | 1,987,000 | 2,073,931 | ||||||
WildHorse Resource Development Corp., 144A | 880,000 | 891,000 | ||||||
WPX Energy, Inc. | 289,000 | 299,838 | ||||||
8.25%, 8/01/23 | 1,350,000 | 1,539,000 | ||||||
5.25%, 9/15/24 | 2,023,000 | 2,048,288 | ||||||
5.75%, 6/01/26 | 500,000 | 506,250 | ||||||
|
| |||||||
168,977,204 | ||||||||
|
| |||||||
Oil & Gas Services — 0.7% | ||||||||
Bristow Group, Inc. | 885,000 | 628,350 | ||||||
KCA Deutag UK Finance PLC | 920,000 | 922,300 | ||||||
9.625%, 4/01/23, 144A | 891,000 | 868,725 |
Principal | Value | |||||||
Oil & Gas Services (Continued) | ||||||||
McDermott Technology Americas, Inc. / McDermott Technology US, Inc., 144A | $ | 2,287,000 | $ | 2,439,200 | ||||
SESI LLC | 755,000 | 767,269 | ||||||
7.75%, 9/15/24 | 1,376,000 | 1,427,600 | ||||||
Transocean Phoenix 2 Ltd., 144A | 170,000 | 180,200 | ||||||
Transocean Proteus Ltd., 144A | 170,000 | 174,797 | ||||||
Weatherford International Ltd. | 1,855,000 | 1,824,856 | ||||||
4.50%, 4/15/22 (a) | 1,097,000 | 959,875 | ||||||
8.25%, 6/15/23 (a) | 1,232,000 | 1,148,840 | ||||||
9.875%, 2/15/24 (a) | 1,610,000 | 1,529,500 | ||||||
|
| |||||||
12,871,512 | ||||||||
|
| |||||||
Pipelines — 3.2% | ||||||||
Blue Racer Midstream LLC / Blue Racer Finance Corp., 144A | 1,582,000 | 1,621,518 | ||||||
Cheniere Corpus Christi Holdings LLC | 3,914,000 | 4,344,540 | ||||||
5.875%, 3/31/25 | 2,358,000 | 2,514,217 | ||||||
5.125%, 6/30/27 | 2,660,000 | 2,716,525 | ||||||
Cheniere Energy Partners LP | 2,458,000 | 2,464,145 | ||||||
Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp. | 1,300,000 | 1,347,125 | ||||||
5.75%, 4/01/25 | 1,275,000 | 1,306,875 | ||||||
DCP Midstream Operating LP | 674,000 | 690,850 | ||||||
4.75%, 9/30/21, 144A | 983,000 | 1,000,202 | ||||||
3.875%, 3/15/23 | 989,000 | 966,747 | ||||||
5.375%, 7/15/25 | 1,175,000 | 1,207,312 | ||||||
Energy Transfer Equity LP | 1,996,000 | 2,153,185 | ||||||
4.25%, 3/15/23 | 2,168,000 | 2,179,490 | ||||||
5.875%, 1/15/24 | 2,347,000 | 2,499,555 | ||||||
5.50%, 6/01/27 | 1,909,000 | 2,006,836 | ||||||
EnLink Midstream Partners LP | 2,500,000 | 2,440,370 | ||||||
4.85%, 7/15/26 | 1,000,000 | 973,045 | ||||||
Genesis Energy LP / Genesis Energy Finance Corp. | 2,907,000 | 2,979,675 | ||||||
6.00%, 5/15/23 | 552,000 | 545,790 | ||||||
6.50%, 10/01/25 | 700,000 | 680,750 | ||||||
6.25%, 5/15/26 | 623,000 | 588,735 | ||||||
NGPL PipeCo LLC | 1,900,000 | 1,921,375 | ||||||
4.875%, 8/15/27, 144A | 1,146,000 | 1,159,168 | ||||||
NuStar Logistics LP | 1,092,000 | 1,104,285 | ||||||
5.625%, 4/28/27 | 925,000 | 925,000 |
See Notes to Financial Statements. | 64 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Pipelines (Continued) | ||||||||
Rockies Express Pipeline LLC, 144A | $ | 1,023,000 | $ | 1,060,084 | ||||
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp. | 2,233,000 | 2,294,408 | ||||||
5.50%, 1/15/28, 144A | 1,281,000 | 1,297,013 | ||||||
Targa Resources Partners LP / Targa Resources Partners Finance Corp. | 245,000 | 245,809 | ||||||
5.25%, 5/01/23 | 1,727,000 | 1,752,905 | ||||||
4.25%, 11/15/23 | 1,108,000 | 1,077,530 | ||||||
6.75%, 3/15/24 | 997,000 | 1,049,343 | ||||||
5.125%, 2/01/25 | 106,000 | 106,795 | ||||||
5.875%, 4/15/26, 144A | 2,424,000 | 2,487,630 | ||||||
5.375%, 2/01/27 | 1,132,000 | 1,129,170 | ||||||
5.00%, 1/15/28, 144A | 1,500,000 | 1,460,625 | ||||||
|
| |||||||
56,298,627 | ||||||||
|
| |||||||
Financial — 8.9% |
| |||||||
Banks — 0.9% |
| |||||||
CIT Group, Inc. | 1,000,000 | 1,032,500 | ||||||
4.125%, 3/09/21 | 1,225,000 | 1,232,656 | ||||||
5.00%, 8/15/22 | 1,570,000 | 1,605,325 | ||||||
5.00%, 8/01/23 | 2,174,000 | 2,214,762 | ||||||
4.75%, 2/16/24 | 800,000 | 803,000 | ||||||
5.25%, 3/07/25 | 957,000 | 975,542 | ||||||
6.125%, 3/09/28 | 544,000 | 569,840 | ||||||
Freedom Mortgage Corp. | 1,032,000 | 1,002,330 | ||||||
8.25%, 4/15/25, 144A | 1,250,000 | 1,214,063 | ||||||
Intesa Sanpaolo SpA | 3,753,000 | 3,400,079 | ||||||
5.71%, 1/15/26, 144A | 2,972,000 | 2,702,387 | ||||||
|
| |||||||
16,752,484 | ||||||||
|
| |||||||
Diversified Financial Services — 3.9% | ||||||||
Ally Financial, Inc. | 682,000 | 686,262 | ||||||
8.00%, 3/15/20 | 2,260,000 | 2,404,075 | ||||||
4.125%, 3/30/20 | 1,523,000 | 1,532,519 | ||||||
7.50%, 9/15/20 | 1,198,000 | 1,281,860 | ||||||
4.25%, 4/15/21 | 1,125,000 | 1,130,827 | ||||||
4.125%, 2/13/22 | 1,508,000 | 1,504,230 | ||||||
4.625%, 5/19/22 | 970,000 | 978,487 | ||||||
5.125%, 9/30/24 | 1,132,000 | 1,160,300 | ||||||
4.625%, 3/30/25 | 1,400,000 | 1,403,500 | ||||||
5.75%, 11/20/25 | 1,935,000 | 2,012,400 | ||||||
Blackstone CQP Holdco LP, 144A | 2,521,000 | 2,540,796 | ||||||
Curo Group Holdings Corp., 144A | 1,300,000 | 1,290,250 | ||||||
Jefferies Finance LLC / JFIN Co.-Issuer Corp., 144A | 630,000 | 652,050 |
Principal | Value | |||||||
Diversified Financial Services (Continued) | ||||||||
Jefferies Finance LLC / JFIN Co-Issuer Corp. | $ | 1,774,000 | $ | 1,813,915 | ||||
6.875%, 4/15/22, 144A | 896,000 | 909,440 | ||||||
7.25%, 8/15/24, 144A | 801,000 | 790,987 | ||||||
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp. | 283,000 | 284,769 | ||||||
5.25%, 10/01/25, 144A | 950,000 | 894,187 | ||||||
Lincoln Finance Ltd., 144A | 445,000 | 460,019 | ||||||
Lions Gate Capital Holdings LLC, 144A | 1,100,000 | 1,139,875 | ||||||
LPL Holdings, Inc., 144A | 1,510,000 | 1,479,800 | ||||||
Nationstar Mortgage Holdings, Inc. | 1,000,000 | 1,040,000 | ||||||
9.125%, 7/15/26, 144A | 1,800,000 | 1,878,750 | ||||||
Nationstar Mortgage LLC / Nationstar Capital Corp. | 1,489,000 | 1,492,722 | ||||||
Navient Corp. | 2,562,000 | 2,722,766 | ||||||
5.00%, 10/26/20 | 1,300,000 | 1,306,773 | ||||||
5.875%, 3/25/21 | 1,800,000 | 1,847,790 | ||||||
6.625%, 7/26/21 | 895,000 | 934,156 | ||||||
Series MTN, 7.25%, 1/25/22 | 2,756,000 | 2,924,805 | ||||||
6.50%, 6/15/22 | 790,000 | 817,887 | ||||||
5.50%, 1/25/23 | 1,869,000 | 1,854,964 | ||||||
7.25%, 9/25/23 | 1,200,000 | 1,272,000 | ||||||
Series MTN, 6.125%, 3/25/24 | 1,779,000 | 1,774,553 | ||||||
5.875%, 10/25/24 | 1,568,000 | 1,524,880 | ||||||
6.75%, 6/25/25 | 422,000 | 422,000 | ||||||
6.75%, 6/15/26 | 1,000,000 | 983,750 | ||||||
NFP Corp., 144A | 1,580,000 | 1,556,300 | ||||||
Quicken Loans, Inc. | 3,000,000 | 2,985,000 | ||||||
5.25%, 1/15/28, 144A | 1,664,000 | 1,530,880 | ||||||
Springleaf Finance Corp. | 1,013,000 | 1,029,461 | ||||||
8.25%, 12/15/20 | 1,370,000 | 1,484,738 | ||||||
7.75%, 10/01/21 | 1,226,000 | 1,328,678 | ||||||
6.125%, 5/15/22 | 4,085,000 | 4,217,763 | ||||||
5.625%, 3/15/23 | 1,955,000 | 1,955,000 | ||||||
6.875%, 3/15/25 | 1,777,000 | 1,781,976 | ||||||
7.125%, 3/15/26 | 2,400,000 | 2,392,668 | ||||||
Vantiv LLC / Vanitv Issuer Corp., 144A | 1,068,000 | 1,021,275 | ||||||
|
| |||||||
70,432,083 | ||||||||
|
| |||||||
Insurance — 0.6% | ||||||||
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 144A | 1,539,000 | 1,600,560 | ||||||
Ardonagh Midco 3 PLC, 144A | 1,448,000 | 1,476,960 |
See Notes to Financial Statements. | 65 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Insurance (Continued) | ||||||||
AssuredPartners, Inc., 144A | $ | 1,071,000 | $ | 1,052,257 | ||||
Genworth Holdings, Inc. | 1,400,000 | 1,456,000 | ||||||
4.90%, 8/15/23 | 969,000 | 874,523 | ||||||
4.80%, 2/15/24 (a) | 700,000 | 626,500 | ||||||
HUB International Ltd., 144A | 2,360,000 | 2,350,678 | ||||||
Radian Group, Inc. | 1,040,000 | 1,029,600 | ||||||
|
| |||||||
10,467,078 | ||||||||
|
| |||||||
Real Estate — 0.4% | ||||||||
Howard Hughes Corp., 144A | 2,197,000 | 2,175,030 | ||||||
Kennedy-Wilson, Inc. | 1,900,000 | 1,892,875 | ||||||
Realogy Group LLC / Realogy Co.-Issuer Corp. | 540,000 | 540,675 | ||||||
4.875%, 6/01/23, 144A | 1,618,000 | 1,520,920 | ||||||
WeWork Cos., Inc., 144A | 1,300,000 | 1,266,070 | ||||||
|
| |||||||
7,395,570 | ||||||||
|
| |||||||
Real Estate Investment Trusts — 2.5% | ||||||||
CBL & Associates LP | 750,000 | 635,700 | ||||||
5.95%, 12/15/26 (a) | 1,175,000 | 957,625 | ||||||
CyrusOne LP / CyrusOne Finance Corp. | 1,237,000 | 1,255,555 | ||||||
5.375%, 3/15/27 | 1,325,000 | 1,334,937 | ||||||
Equinix, Inc. | 1,572,000 | 1,622,776 | ||||||
5.375%, 4/01/23 | 2,000,000 | 2,052,500 | ||||||
5.75%, 1/01/25 | 1,975,000 | 2,044,125 | ||||||
5.875%, 1/15/26 | 1,624,000 | 1,688,960 | ||||||
5.375%, 5/15/27 | 1,887,000 | 1,924,740 | ||||||
ESH Hospitality, Inc., 144A | 2,145,000 | 2,083,331 | ||||||
Iron Mountain, Inc. | 199,000 | 199,995 | ||||||
6.00%, 8/15/23 | 1,274,000 | 1,310,628 | ||||||
5.75%, 8/15/24 | 2,204,000 | 2,190,225 | ||||||
4.875%, 9/15/27, 144A | 2,100,000 | 1,956,360 | ||||||
5.25%, 3/15/28, 144A | 1,767,000 | 1,680,859 | ||||||
iStar, Inc. | 1,095,000 | 1,092,262 | ||||||
5.25%, 9/15/22 | 700,000 | 694,750 | ||||||
MGM Growth Properties Operating Partnership LP / MGP Finance Co-Issuer, Inc. | 2,700,000 | 2,787,750 | ||||||
4.50%, 9/01/26 | 539,000 | 516,093 | ||||||
MPT Operating Partnership LP / MPT Finance Corp. | 872,000 | 923,710 |
Principal | Value | |||||||
Real Estate Investment Trusts (Continued) | ||||||||
5.25%, 8/01/26 | $ | 1,871,000 | $ | 1,880,355 | ||||
5.00%, 10/15/27 | 1,966,000 | 1,931,595 | ||||||
SBA Communications Corp. | 1,596,000 | 1,619,940 | ||||||
4.00%, 10/01/22 | 2,189,000 | 2,151,218 | ||||||
4.875%, 9/01/24 | 1,662,000 | 1,644,050 | ||||||
Starwood Property Trust, Inc. | 1,206,000 | 1,178,865 | ||||||
5.00%, 12/15/21 | 987,000 | 996,870 | ||||||
4.75%, 3/15/25 | 973,000 | 926,783 | ||||||
Uniti Group LP / Uniti Fiber Holdings, Inc. / CSL Capital LLC, 144A | 1,094,000 | 993,833 | ||||||
Uniti Group LP / Uniti Group Finance, Inc. / CSL Capital LLC | 750,000 | 721,875 | ||||||
8.25%, 10/15/23 | 2,500,000 | 2,367,975 | ||||||
|
| |||||||
45,366,240 | ||||||||
|
| |||||||
Venture Capital — 0.6% | ||||||||
Icahn Enterprises LP / Icahn Enterprises Finance Corp. | 1,186,000 | 1,207,882 | ||||||
5.875%, 2/01/22 | 3,842,000 | 3,921,875 | ||||||
6.25%, 2/01/22 | 1,914,000 | 1,971,229 | ||||||
6.75%, 2/01/24 | 1,402,000 | 1,452,822 | ||||||
6.375%, 12/15/25 | 1,375,000 | 1,395,625 | ||||||
|
| |||||||
9,949,433 | ||||||||
|
| |||||||
Industrial — 8.0% |
| |||||||
Aerospace/Defense — 2.1% |
| |||||||
Arconic, Inc. | 1,600,000 | 1,670,000 | ||||||
5.40%, 4/15/21 | 2,721,000 | 2,803,746 | ||||||
5.87%, 2/23/22 | 1,223,000 | 1,277,546 | ||||||
5.125%, 10/01/24 | 2,500,000 | 2,519,062 | ||||||
Bombardier, Inc. | 1,671,000 | 1,760,816 | ||||||
8.75%, 12/01/21, 144A | 3,697,000 | 4,085,185 | ||||||
5.75%, 3/15/22, 144A (a) | 759,000 | 764,692 | ||||||
6.00%, 10/15/22, 144A | 2,508,000 | 2,526,810 | ||||||
6.125%, 1/15/23, 144A | 2,950,000 | 2,986,875 | ||||||
7.50%, 12/01/24, 144A | 1,641,000 | 1,729,204 | ||||||
7.50%, 3/15/25, 144A | 2,426,000 | 2,504,845 | ||||||
KLX, Inc., 144A | 2,332,000 | 2,419,450 | ||||||
TransDigm, Inc. | 953,000 | 956,574 | ||||||
6.00%, 7/15/22 | 2,498,000 | 2,529,225 | ||||||
6.50%, 7/15/24 | 2,388,000 | 2,432,775 | ||||||
6.50%, 5/15/25 | 1,270,000 | 1,295,400 | ||||||
6.375%, 6/15/26 | 1,959,000 | 1,984,712 | ||||||
Triumph Group, Inc. | 1,000,000 | 973,750 | ||||||
|
| |||||||
37,220,667 | ||||||||
|
|
See Notes to Financial Statements. | 66 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Building Materials — 0.9% | ||||||||
Builders FirstSource, Inc., 144A | $ | 1,575,000 | $ | 1,535,625 | ||||
Griffon Corp. | 1,984,000 | 1,964,755 | ||||||
Jeld-Wen, Inc. | 502,000 | 469,370 | ||||||
4.875%, 12/15/27, 144A | 655,000 | 612,425 | ||||||
Standard Industries, Inc. | 1,281,000 | 1,313,410 | ||||||
5.375%, 11/15/24, 144A | 2,600,000 | 2,616,250 | ||||||
6.00%, 10/15/25, 144A | 2,068,000 | 2,125,242 | ||||||
5.00%, 2/15/27, 144A | 920,000 | 876,300 | ||||||
Standard Industries, Inc./NJ, 144A | 1,622,000 | 1,517,057 | ||||||
Summit Materials LLC / Summit Materials Finance Corp. | 1,675,000 | 1,706,406 | ||||||
USG Corp., 144A | 1,000,000 | 1,014,710 | ||||||
|
| |||||||
15,751,550 | ||||||||
|
| |||||||
Electrical Components & Equipment — 0.1% | ||||||||
Energizer Gamma Acquisition, Inc., 144A | 1,015,000 | 1,051,794 | ||||||
Energizer Holdings, Inc., 144A | 1,252,000 | 1,252,000 | ||||||
|
| |||||||
2,303,794 | ||||||||
|
| |||||||
Electronics — 0.0% | ||||||||
Itron, Inc., 144A | 600,000 | 573,420 | ||||||
|
| |||||||
Engineering & Construction — 0.5% | ||||||||
AECOM | 2,185,000 | 2,343,172 | ||||||
5.125%, 3/15/27 | 1,203,000 | 1,184,955 | ||||||
Brand Industrial Services, Inc., 144A | 2,113,000 | 2,179,031 | ||||||
MasTec, Inc. | 910,000 | 898,625 | ||||||
Pisces Midco, Inc., 144A | 1,359,000 | 1,399,770 | ||||||
StandardAero Aviation Holdings, Inc., 144A | 500,000 | 540,000 | ||||||
|
| |||||||
8,545,553 | ||||||||
|
| |||||||
Environmental Control — 0.3% | ||||||||
Advanced Disposal Services, Inc., 144A | 645,000 | 646,612 | ||||||
Clean Harbors, Inc. | 1,751,000 | 1,759,755 | ||||||
Covanta Holding Corp. | 700,000 | 714,000 | ||||||
5.875%, 3/01/24 | 642,000 | 648,420 | ||||||
5.875%, 7/01/25 | 802,000 | 801,575 |
Principal | Value | |||||||
Environmental Control (Continued) | ||||||||
GFL Environmental, Inc., 144A | $ | 1,023,000 | $ | 974,408 | ||||
|
| |||||||
5,544,770 | ||||||||
|
| |||||||
Machinery-Construction & Mining — 0.2% | ||||||||
BlueLine Rental Finance Corp. / BlueLine Rental LLC, 144A | 2,451,000 | 2,579,677 | ||||||
Vertiv Group Corp., 144A | 1,430,000 | 1,476,475 | ||||||
|
| |||||||
4,056,152 | ||||||||
|
| |||||||
Machinery-Diversified — 0.1% | ||||||||
Cloud Crane LLC, 144A | 678,000 | 739,020 | ||||||
Welbilt, Inc. | 516,000 | 567,600 | ||||||
|
| |||||||
1,306,620 | ||||||||
|
| |||||||
Metal Fabricate/Hardware — 0.3% | ||||||||
Novelis Corp. | 1,964,000 | 1,993,460 | ||||||
5.875%, 9/30/26, 144A | 3,035,000 | 2,963,070 | ||||||
|
| |||||||
4,956,530 | ||||||||
|
| |||||||
Packaging & Containers — 2.8% | ||||||||
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc. | 1,167,000 | 1,153,871 | ||||||
4.625%, 5/15/23, 144A | 2,242,000 | 2,227,987 | ||||||
7.25%, 5/15/24, 144A | 3,512,000 | 3,705,160 | ||||||
6.00%, 2/15/25, 144A | 2,901,000 | 2,842,980 | ||||||
Ball Corp. | 1,275,000 | 1,295,719 | ||||||
5.00%, 3/15/22 | 1,753,000 | 1,816,546 | ||||||
4.00%, 11/15/23 | 1,935,000 | 1,898,719 | ||||||
5.25%, 7/01/25 | 2,209,000 | 2,286,315 | ||||||
4.875%, 3/15/26 | 1,531,000 | 1,527,172 | ||||||
Berry Global, Inc. | 220,000 | 224,400 | ||||||
6.00%, 10/15/22 | 917,000 | 946,802 | ||||||
5.125%, 7/15/23 | 1,630,000 | 1,627,962 | ||||||
4.50%, 2/15/26, 144A | 1,350,000 | 1,269,000 | ||||||
BWAY Holding Co. | 2,073,000 | 2,065,226 | ||||||
7.25%, 4/15/25, 144A | 3,028,000 | 2,959,870 | ||||||
Crown Americas LLC / Crown Americas Capital Corp. IV | 1,347,000 | 1,350,368 | ||||||
Crown Americas LLC / Crown Americas Capital Corp. VI, 144A | 150,000 | 144,375 | ||||||
Flex Acquisition Co., Inc. | 1,394,000 | 1,348,695 | ||||||
7.875%, 7/15/26, 144A | 775,000 | 777,906 | ||||||
Graphic Packaging International LLC | 645,000 | 655,068 |
See Notes to Financial Statements. | 67 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Packaging & Containers (Continued) | ||||||||
Multi-Color Corp., 144A | $ | 1,331,000 | $ | 1,244,485 | ||||
Owens-Brockway Glass Container, Inc. | 1,431,000 | 1,439,944 | ||||||
5.875%, 8/15/23, 144A | 1,267,000 | 1,303,426 | ||||||
Reynolds Group Issuer, Inc. / Reynolds Group Issuer LLC / Reynolds Group Issuer Lu | 4,053,337 | 4,063,470 | ||||||
6.875%, 2/15/21 | 1,905 | 1,932 | ||||||
5.125%, 7/15/23, 144A | 3,413,000 | 3,404,468 | ||||||
Reynolds Group Issuer, Inc. / Reynolds Group Issuer LLC / Reynolds Group Issuer Luxembourg, 144A | 1,073,000 | 1,092,180 | ||||||
Sealed Air Corp. | 1,055,000 | 1,115,663 | ||||||
4.875%, 12/01/22, 144A | 1,600,000 | 1,614,000 | ||||||
5.25%, 4/01/23, 144A | 710,000 | 724,200 | ||||||
5.125%, 12/01/24, 144A | 783,000 | 796,703 | ||||||
5.50%, 9/15/25, 144A | 458,000 | 466,015 | ||||||
|
| |||||||
49,390,627 | ||||||||
|
| |||||||
Transportation — 0.3% | ||||||||
Hornbeck Offshore Services, Inc. | 638,000 | 462,550 | ||||||
Kenan Advantage Group, Inc., 144A | 864,000 | 891,000 | ||||||
XPO Logistics, Inc. | 1,687,000 | 1,748,947 | ||||||
6.125%, 9/01/23, 144A | 2,200,000 | 2,274,250 | ||||||
|
| |||||||
5,376,747 | ||||||||
|
| |||||||
Trucking & Leasing — 0.4% | ||||||||
Park Aerospace Holdings Ltd. | 3,303,000 | 3,377,318 | ||||||
4.50%, 3/15/23, 144A | 2,100,000 | 2,081,625 | ||||||
5.50%, 2/15/24, 144A | 2,457,000 | 2,530,710 | ||||||
|
| |||||||
7,989,653 | ||||||||
|
| |||||||
Technology — 6.2% |
| |||||||
Computers — 1.8% |
| |||||||
Banff Merger Sub, Inc., 144A | 3,000,000 | 3,015,000 | ||||||
Dell International LLC / EMC Corp. | 5,503,000 | 5,675,877 | ||||||
7.125%, 6/15/24, 144A | 2,335,000 | 2,496,703 | ||||||
Dell, Inc. | 1,319,000 | 1,345,380 | ||||||
Diebold Nixdorf, Inc. | 830,000 | 590,337 | ||||||
EMC Corp. | 1,379,000 | 1,349,115 | ||||||
3.375%, 6/01/23 (a) | 2,104,000 | 1,988,237 | ||||||
Exela Intermediate LLC / Exela Finance, Inc., 144A | 2,000,000 | 2,105,000 |
Principal | Value | |||||||
Computers (Continued) | ||||||||
Harland Clarke Holdings Corp. | $ | 1,500,000 | $ | 1,372,500 | ||||
8.375%, 8/15/22, 144A | 1,700,000 | 1,602,250 | ||||||
Leidos Holdings, Inc. | 1,454,000 | 1,483,516 | ||||||
NCR Corp. | 1,044,000 | 1,028,340 | ||||||
5.00%, 7/15/22 | 1,366,000 | 1,338,680 | ||||||
6.375%, 12/15/23 | 1,272,000 | 1,279,950 | ||||||
Sungard Availability Services Capital, Inc., 144A | 900,000 | 459,000 | ||||||
West Corp., 144A | 2,276,000 | 2,082,540 | ||||||
Western Digital Corp. | 4,230,000 | 4,155,150 | ||||||
|
| |||||||
33,367,575 | ||||||||
|
| |||||||
Office/Business Equipment — 0.4% | ||||||||
CDW LLC / CDW Finance Corp. | 571,000 | 583,848 | ||||||
5.50%, 12/01/24 | 1,340,000 | 1,400,300 | ||||||
5.00%, 9/01/25 | 1,300,000 | 1,298,375 | ||||||
Pitney Bowes, Inc. | 546,000 | 520,406 | ||||||
4.375%, 5/15/22 | 1,404,000 | 1,286,415 | ||||||
4.70%, 4/01/23 | 586,000 | 525,935 | ||||||
4.625%, 3/15/24 (a) | 910,000 | 820,547 | ||||||
|
| |||||||
6,435,826 | ||||||||
|
| |||||||
Semiconductors — 0.9% | ||||||||
Amkor Technology, Inc. | 1,000,000 | 1,020,000 | ||||||
Micron Technology, Inc. | 1,402,000 | 1,457,940 | ||||||
NXP BV / NXP Funding LLC | 1,503,000 | 1,519,909 | ||||||
4.125%, 6/01/21, 144A | 2,655,000 | 2,664,956 | ||||||
4.625%, 6/15/22, 144A | 1,410,540 | 1,431,289 | ||||||
3.875%, 9/01/22, 144A | 1,892,000 | 1,880,175 | ||||||
4.625%, 6/01/23, 144A | 1,430,000 | 1,455,025 | ||||||
Qorvo, Inc., 144A | 875,000 | 881,562 | ||||||
Sensata Technologies BV | 1,128,000 | 1,132,230 | ||||||
5.625%, 11/01/24, 144A | 501,000 | 520,414 | ||||||
5.00%, 10/01/25, 144A | 1,279,000 | 1,282,197 | ||||||
Sensata Technologies UK Financing Co. PLC, 144A | 350,000 | 369,688 | ||||||
STATS ChipPAC Pte Ltd., 144A | 553,000 | 561,295 | ||||||
|
| |||||||
16,176,680 | ||||||||
|
| |||||||
Software — 3.1% | ||||||||
BMC Software Finance, Inc., 144A | 2,680,000 | 2,742,873 |
See Notes to Financial Statements. | 68 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2018
Principal | Value | |||||||
Software (Continued) | ||||||||
CDK Global, Inc. | $ | 569,000 | $ | 584,647 | ||||
5.875%, 6/15/26 | 500,000 | 514,570 | ||||||
4.875%, 6/01/27 | 1,775,000 | 1,752,812 | ||||||
Change Healthcare Holdings LLC / Change Healthcare Finance, Inc., 144A | 1,900,000 | 1,864,375 | ||||||
First Data Corp. | 1,164,000 | 1,187,455 | ||||||
7.00%, 12/01/23, 144A | 6,544,000 | 6,825,392 | ||||||
5.00%, 1/15/24, 144A | 4,519,000 | 4,545,210 | ||||||
5.75%, 1/15/24, 144A | 4,700,000 | 4,811,625 | ||||||
Infor US, Inc. | 675,000 | 685,969 | ||||||
6.50%, 5/15/22 | 3,800,000 | 3,868,286 | ||||||
Informatica LLC, 144A | 1,260,000 | 1,288,350 | ||||||
IQVIA, Inc. | 1,611,000 | 1,623,083 | ||||||
5.00%, 10/15/26, 144A | 2,122,000 | 2,103,432 | ||||||
MSCI, Inc. | 2,116,000 | 2,184,770 | ||||||
5.75%, 8/15/25, 144A | 1,162,000 | 1,220,100 | ||||||
4.75%, 8/01/26, 144A | 921,000 | 916,395 | ||||||
5.375%, 5/15/27, 144A | 809,000 | 833,270 | ||||||
Nuance Communications, Inc. | 369,000 | 369,231 | ||||||
5.625%, 12/15/26 | 1,300,000 | 1,301,625 | ||||||
Open Text Corp. | 1,734,000 | 1,799,025 | ||||||
5.875%, 6/01/26, 144A | 1,218,000 | 1,260,630 | ||||||
Rackspace Hosting, Inc., 144A | 2,387,000 | 2,355,671 | ||||||
Riverbed Technology, Inc., 144A | 1,132,000 | 1,051,345 | ||||||
Solera LLC / Solera Finance, Inc., 144A | 3,842,000 | 4,235,805 | ||||||
TIBCO Software, Inc., 144A | 1,762,000 | 1,887,542 | ||||||
Veritas US, Inc. / Veritas Bermuda Ltd. | 762,000 | 733,425 | ||||||
10.50%, 2/01/24, 144A (a) | 1,375,000 | 1,189,375 | ||||||
|
| |||||||
55,736,288 | ||||||||
|
| |||||||
Utilities — 2.9% | ||||||||
Electric — 2.6% | ||||||||
AES Corp. | 391,000 | 393,033 | ||||||
4.50%, 3/15/23 | 1,465,000 | 1,470,494 | ||||||
4.875%, 5/15/23 | 1,292,000 | 1,314,610 | ||||||
5.50%, 4/15/25 | 1,110,000 | 1,146,075 | ||||||
6.00%, 5/15/26 | 1,684,000 | 1,789,250 | ||||||
5.125%, 9/01/27 | 920,000 | 931,500 | ||||||
Calpine Corp. | 1,595,000 | 1,628,894 | ||||||
5.375%, 1/15/23 (a) | 2,491,000 | 2,375,791 | ||||||
5.875%, 1/15/24, 144A | 1,017,000 | 1,028,441 | ||||||
5.50%, 2/01/24 | 1,359,000 | 1,252,631 | ||||||
5.75%, 1/15/25 (a) | 2,730,000 | 2,491,125 | ||||||
5.25%, 6/01/26, 144A | 2,556,000 | 2,422,654 |
Principal | Value | |||||||
Electric (Continued) | ||||||||
DPL, Inc. | $ | 817,000 | $ | 887,466 | ||||
InterGen NV, 144A | 900,000 | 895,950 | ||||||
NextEra Energy Operating Partners LP | 1,243,000 | 1,215,033 | ||||||
4.50%, 9/15/27, 144A | 1,050,000 | 1,001,438 | ||||||
NRG Energy, Inc. | 1,054,000 | 1,090,890 | ||||||
6.25%, 5/01/24 | 2,400,000 | 2,496,000 | ||||||
7.25%, 5/15/26 | 2,130,000 | 2,300,400 | ||||||
6.625%, 1/15/27 | 2,144,000 | 2,253,880 | ||||||
5.75%, 1/15/28, 144A (a) | 1,210,000 | 1,225,125 | ||||||
NRG Yield Operating LLC | 1,162,000 | 1,173,620 | ||||||
Talen Energy Supply LLC | 1,400,000 | 1,221,500 | ||||||
9.50%, 7/15/22, 144A (a) | 1,227,000 | 1,190,190 | ||||||
6.50%, 6/01/25 | 1,071,000 | 803,250 | ||||||
10.50%, 1/15/26, 144A (a) | 1,010,000 | 888,800 | ||||||
Vistra Energy Corp. | 1,720,000 | 1,795,250 | ||||||
5.875%, 6/01/23 | 2,155,000 | 2,227,731 | ||||||
7.625%, 11/01/24 | 3,891,000 | 4,202,280 | ||||||
Vistra Operations Co. LLC, 144A | 1,000,000 | 1,014,700 | ||||||
|
| |||||||
46,128,001 | ||||||||
|
| |||||||
Gas — 0.3% | ||||||||
AmeriGas Partners LP / AmeriGas Finance Corp. | 1,459,000 | 1,455,352 | ||||||
5.50%, 5/20/25 | 1,452,000 | 1,430,220 | ||||||
5.875%, 8/20/26 | 1,066,000 | 1,063,335 | ||||||
5.75%, 5/20/27 | 939,000 | 931,958 | ||||||
NGL Energy Partners LP / NGL Energy Finance Corp. | 1,397,000 | 1,433,671 | ||||||
|
| |||||||
6,314,536 | ||||||||
|
| |||||||
TOTAL CORPORATE BONDS | 1,754,609,046 | |||||||
|
| |||||||
Number |
| |||||||
SECURITIES LENDING COLLATERAL — 6.2% |
| |||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 1.85% (b)(c) (Cost $111,668,629) | 111,668,629 | 111,668,629 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 103.9% (Cost $1,877,517,835) | $ | 1,866,277,675 | ||||||
Other assets and liabilities, net — (3.9%) | (70,659,634 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 1,795,618,041 | ||||||
|
|
See Notes to Financial Statements. | 69 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF (Continued)
August 31, 2018
A summary of the Fund’s transactions with affiliated investments during the year ended August 31, 2018 is as follows:
Value ($) at | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 8/31/2018 | Value ($) at 8/31/2018 | ||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL — 6.2% |
| |||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 1.85% (b)(c) |
| |||||||||||||||||||||||||||||||
17,754,544 | 93,914,085 | — | — | — | 834,471 | — | 111,668,629 | 111,668,629 |
(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, 2018 amounted to $132,490,764, which is 7.4% 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. Represents the net increase (purchases cost) or decrease (sales proceeds) in the amount invested in cash collateral for the year ended August 31, 2018. In addition, the Fund held non-cash U.S. Treasury securities collateral having a value of $26,636,855. |
MTN: | Medium Term Note |
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, 2018 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 (d) | $ | — | $ | 1,754,609,046 | $ | — | $ | 1,754,609,046 | ||||||||
Short-Term Investments | 111,668,629 | — | — | 111,668,629 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 111,668,629 | $ | 1,754,609,046 | $ | — | $ | 1,866,277,675 | ||||||||
|
|
|
|
|
|
|
|
(d) | See Schedule of Investments for additional detailed categorizations. |
There have been no transfers between fair value measurement levels during the year ended August 31, 2018.
See Notes to Financial Statements. | 70 |
This Page is Intentionally Left Blank
71
DBX ETF Trust
August 31, 2018
Xtrackers Barclays International Corporate Bond Hedged ETF | Xtrackers Barclays International Treasury Bond Hedged ETF | Xtrackers High Beta High Yield Bond ETF | Xtrackers Low Beta High Yield Bond ETF | |||||||||||||
Assets | ||||||||||||||||
Investments in non-affiliated securities at value | $ | 4,909,721 | $ | 4,785,311 | $ | 143,951,342 | $ | 134,010,317 | ||||||||
Investment in DWS Government & Agency Securities Portfolio* | — | — | 7,697,440 | 2,990,054 | ||||||||||||
Cash | 21,586 | 768 | 1,050,308 | 2,736,964 | ||||||||||||
Foreign currency at value | 2,615 | 27,230 | — | — | ||||||||||||
Unrealized appreciation on forward foreign currency contracts | 59,141 | 54,423 | — | — | ||||||||||||
Receivables: | ||||||||||||||||
Investment securities sold | — | 156,381 | 4,102,314 | 4,675,826 | ||||||||||||
Interest | 64,744 | 45,188 | 2,673,262 | 1,952,845 | ||||||||||||
Securities lending income | — | — | 14,821 | 1,616 | ||||||||||||
Foreign tax reclaim | — | 729 | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Assets | $ | 5,057,807 | $ | 5,070,030 | $ | 159,489,487 | $ | 146,367,622 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liabilities | ||||||||||||||||
Payable upon return of securities loaned | $ | — | $ | — | $ | 7,697,440 | $ | 2,990,054 | ||||||||
Unrealized depreciation on forward foreign currency contracts | 13,512 | 20,505 | — | — | ||||||||||||
Payables: | ||||||||||||||||
Investment securities purchased | 32,049 | 149,686 | 4,235,221 | 5,706,619 | ||||||||||||
Investment advisory fees | 1,277 | 1,040 | 43,735 | 29,135 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Liabilities | 46,838 | 171,231 | 11,976,396 | 8,725,808 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Assets, at value | $ | 5,010,969 | $ | 4,898,799 | $ | 147,513,091 | $ | 137,641,814 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net Assets Consist of | ||||||||||||||||
Paid-in capital | $ | 5,009,594 | $ | 5,001,290 | $ | 149,584,274 | $ | 139,667,256 | ||||||||
Undistributed net investment income | 66,185 | 16,001 | 779,766 | 530,637 | ||||||||||||
Accumulated net realized gain (loss) | (198,936 | ) | (98,992 | ) | (250,530 | ) | (1,084,231 | ) | ||||||||
Net unrealized appreciation (depreciation) | 134,126 | (19,500 | ) | (2,600,419 | ) | (1,471,848 | ) | |||||||||
|
|
|
|
|
|
|
| |||||||||
Net Assets, at value | $ | 5,010,969 | $ | 4,898,799 | $ | 147,513,091 | $ | 137,641,814 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Number of Common Shares outstanding | 100,001 | 100,001 | 3,000,001 | 2,800,001 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Asset Value | $ | 50.11 | $ | 48.99 | $ | 49.17 | $ | 49.16 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Investments in non-affiliated securities at cost | $ | 4,819,615 | $ | 4,837,683 | $ | 146,551,761 | $ | 135,482,165 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Value of securities loaned | $ | — | $ | — | $ | 7,549,624 | $ | 2,879,002 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Investment in DWS Government & Agency Securities Portfolio at cost* | $ | — | $ | — | $ | 7,697,440 | $ | 2,990,054 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Non-cash collateral for securities on loan | $ | — | $ | — | $ | 199,001 | $ | — | ||||||||
|
|
|
|
|
|
|
| |||||||||
Foreign currency at cost | $ | 2,644 | $ | 27,400 | $ | — | $ | — | ||||||||
|
|
|
|
|
|
|
|
* | Represents collateral on securities loaned. |
See Notes to Financial Statements. | 72 |
DBX ETF Trust
Statements of Assets and Liabilities (Continued)
August 31, 2018
Xtrackers Short Duration High Yield Bond ETF | Xtrackers USD High Yield Corporate Bond ETF | |||||||
Assets | ||||||||
Investments in non-affiliated securities at value | $ | 38,622,715 | $ | 1,754,609,046 | ||||
Investment in DWS Government & Agency Securities Portfolio* | 2,437,670 | 111,668,629 | ||||||
Cash | 1,338,046 | 17,371,160 | ||||||
Receivables: | ||||||||
Investment securities sold | 879,657 | 20,549,637 | ||||||
Interest | 699,511 | 29,513,215 | ||||||
Securities lending income | 2,537 | 160,879 | ||||||
|
|
|
| |||||
Total Assets | $ | 43,980,136 | $ | 1,933,872,566 | ||||
|
|
|
| |||||
Liabilities | ||||||||
Payable upon return of securities loaned | $ | 2,437,670 | $ | 111,668,629 | ||||
Payables: | ||||||||
Investment securities purchased | 1,779,922 | 26,285,127 | ||||||
Investment advisory fees | 6,737 | 300,769 | ||||||
|
|
|
| |||||
Total Liabilities | 4,224,329 | 138,254,525 | ||||||
|
|
|
| |||||
Net Assets, at value | $ | 39,755,807 | $ | 1,795,618,041 | ||||
|
|
|
| |||||
Net Assets Consist of | ||||||||
Paid-in capital | $ | 39,864,872 | $ | 1,801,772,083 | ||||
Undistributed net investment income | 178,095 | 8,479,077 | ||||||
Accumulated net realized gain (loss) | (64,402 | ) | (3,392,959 | ) | ||||
Net unrealized appreciation (depreciation) | (222,758 | ) | (11,240,160 | ) | ||||
|
|
|
| |||||
Net Assets, at value | $ | 39,755,807 | $ | 1,795,618,041 | ||||
|
|
|
| |||||
Number of Common Shares outstanding | 800,001 | 36,000,001 | ||||||
|
|
|
| |||||
Net Asset Value | $ | 49.69 | $ | 49.88 | ||||
|
|
|
| |||||
Investments in non-affiliated securities at cost | $ | 38,845,473 | $ | 1,765,849,206 | ||||
|
|
|
| |||||
Value of securities loaned | $ | 2,359,140 | $ | 132,490,764 | ||||
|
|
|
| |||||
Investment in DWS Government & Agency Securities Portfolio at cost* | $ | 2,437,670 | $ | 111,668,629 | ||||
|
|
|
| |||||
Non-cash collateral for securities on loan | $ | 30,709 | $ | 26,636,855 | ||||
|
|
|
|
* | Represents collateral on securities loaned. |
See Notes to Financial Statements. | 73 |
DBX ETF Trust
For the Year Ended August 31, 2018
Xtrackers Barclays International Corporate Bond Hedged ETF | Xtrackers Barclays International Treasury Bond Hedged ETF | Xtrackers High Beta High Yield Bond ETF(1) | Xtrackers Low Beta High Yield Bond ETF(1) | |||||||||||||
Investment Income | ||||||||||||||||
Unaffiliated interest income* | $ | 53,207 | $ | 45,668 | $ | 6,098,976 | $ | 3,867,375 | ||||||||
Affiliated securities lending income | — | — | 101,727 | 8,278 | ||||||||||||
Unaffiliated securities lending income, net of borrower rebates | — | — | 13,633 | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Income | 53,207 | 45,668 | 6,214,336 | 3,875,653 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Expenses | ||||||||||||||||
Investment advisory fees | 14,994 | 12,210 | 307,868 | 206,775 | ||||||||||||
Other expenses | 57 | 57 | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Expenses | 15,051 | 12,267 | 307,868 | 206,775 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Investment income (loss) | 38,156 | 33,401 | 5,906,468 | 3,668,878 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Realized and Unrealized Gain (Loss) | ||||||||||||||||
Net realized gain (loss) from: | ||||||||||||||||
Investments | 99,607 | 34,230 | (250,530 | ) | (1,084,231 | ) | ||||||||||
Foreign currency transactions | 4,923 | 993 | — | — | ||||||||||||
Forward foreign currency contracts | 142,950 | 139,972 | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized gain (loss) | 247,480 | 175,195 | (250,530 | ) | (1,084,231 | ) | ||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||
Investments | (259,085 | ) | (194,410 | ) | (2,600,419 | ) | (1,471,848 | ) | ||||||||
Foreign currency translations | (4,487 | ) | (2,381 | ) | — | — | ||||||||||
Forward foreign currency contracts | 60,558 | 53,075 | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net change in unrealized appreciation (depreciation) | (203,014 | ) | (143,716 | ) | (2,600,419 | ) | (1,471,848 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized and unrealized gain (loss) on investments and foreign currency transactions | 44,466 | 31,479 | (2,850,949 | ) | (2,556,079 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 82,622 | $ | 64,880 | $ | 3,055,519 | $ | 1,112,799 | ||||||||
|
|
|
|
|
|
|
| |||||||||
* Unaffiliated foreign tax withheld | $ | 131 | $ | 911 | $ | 650 | $ | — |
(1) | For the period January 11, 2018 (commencement of operations) through August 31, 2018. |
See Notes to Financial Statements. | 74 |
DBX ETF Trust
Statements of Operations (Continued)
For the Year Ended August 31, 2018
Xtrackers Short Duration High Yield Bond ETF(1) | Xtrackers USD High Yield Corporate Bond ETF | |||||||
Investment Income | ||||||||
Unaffiliated interest income* | $ | 1,220,504 | $ | 53,772,576 | ||||
Affiliated securities lending income | 17,830 | 834,471 | ||||||
Unaffiliated securities lending income, net of borrower rebates | — | 70,356 | ||||||
|
|
|
| |||||
Total Investment Income | 1,238,334 | 54,677,403 | ||||||
|
|
|
| |||||
Expenses | ||||||||
Investment advisory fees | 42,982 | 1,829,122 | ||||||
Other expenses | — | 855 | ||||||
|
|
|
| |||||
Total Expenses | 42,982 | 1,829,977 | ||||||
|
|
|
| |||||
Less fees waived (See Note 3): | ||||||||
Waiver | — | (7,524 | ) | |||||
|
|
|
| |||||
Net Expenses | 42,982 | 1,822,453 | ||||||
|
|
|
| |||||
Net Investment income (loss) | 1,195,352 | 52,854,950 | ||||||
|
|
|
| |||||
Realized and Unrealized Gain (Loss) | ||||||||
Net realized gain (loss) from: | ||||||||
Investments | (64,402 | ) | (3,086,970 | ) | ||||
In-kind redemptions | — | 1,370,059 | ||||||
Payments by Affiliates (See Note 9) | — | 25,000 | ||||||
|
|
|
| |||||
Net realized gain (loss) | (64,402 | ) | (1,691,911 | ) | ||||
Net change in unrealized appreciation (depreciation) on: | ||||||||
Investments | (222,758 | ) | (13,361,568 | ) | ||||
|
|
|
| |||||
Net change in unrealized appreciation (depreciation) | (222,758 | ) | (13,361,568 | ) | ||||
|
|
|
| |||||
Net realized and unrealized gain (loss) on investments | (287,160 | ) | (15,053,479 | ) | ||||
|
|
|
| |||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 908,192 | $ | 37,801,471 | ||||
|
|
|
| |||||
* Unaffiliated foreign tax withheld | $ | 193 | $ | — |
(1) | For the period January 10, 2018 (commencement of operations) through August 31, 2018. |
See Notes to Financial Statements. | 75 |
DBX ETF Trust
Xtrackers Barclays International Corporate Bond Hedged ETF | Xtrackers Barclays International Treasury Bond Hedged ETF | |||||||||||||||
Year Ended August 31, 2018 | For the Period October 25, 2016(1) to August 31, 2017 | Year Ended August 31, 2018 | For the Period October 25, 2016(1) to August 31, 2017 | |||||||||||||
Increase (Decrease) in Net Assets from Operations | ||||||||||||||||
Net investment income (loss) | $ | 38,156 | $ | 43,069 | $ | 33,401 | $ | 25,064 | ||||||||
Net realized gain (loss) | 247,480 | (256,450 | ) | 175,195 | (165,134 | ) | ||||||||||
Net change in net unrealized appreciation (depreciation) | (203,014 | ) | 337,140 | (143,716 | ) | 124,216 | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from operations | 82,622 | 123,759 | 64,880 | (15,854 | ) | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Distributions to Shareholders from | ||||||||||||||||
Net investment income | (113,203 | ) | (91,803 | ) | (63,240 | ) | (88,277 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total distributions | (113,203 | ) | (91,803 | ) | (63,240 | ) | (88,277 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Fund Shares Transactions | ||||||||||||||||
Proceeds from shares sold | — | 5,009,544 | — | 5,001,240 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from fund share transactions | — | 5,009,544 | — | 5,001,240 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total net increase (decrease) in Net Assets | (30,581 | ) | 5,041,500 | 1,640 | 4,897,109 | |||||||||||
Net Assets | ||||||||||||||||
Beginning of period | 5,041,550 | 50 | 4,897,159 | 50 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
End of period | $ | 5,010,969 | $ | 5,041,550 | $ | 4,898,799 | $ | 4,897,159 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Distributions in excess of net investment income | $ | — | $ | — | $ | — | $ | (20,509 | ) | |||||||
|
|
|
|
|
|
|
| |||||||||
Undistributed net investment income | $ | 66,185 | $ | 13,177 | $ | 16,001 | $ | — | ||||||||
|
|
|
|
|
|
|
| |||||||||
Changes in Shares Outstanding | ||||||||||||||||
Shares outstanding, beginning of period | 100,001 | 1 | 100,001 | 1 | ||||||||||||
Shares sold | — | 100,000 | — | 100,000 | ||||||||||||
Shares redeemed | — | — | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Shares outstanding, end of period | 100,001 | 100,001 | 100,001 | 100,001 | ||||||||||||
|
|
|
|
|
|
|
|
(1) | Commencement of Operations. |
See Notes to Financial Statements. | 76 |
DBX ETF Trust
Statements of Changes in Net Assets (Continued)
Xtrackers High Beta High Yield Bond ETF | Xtrackers Low Beta High Yield Bond ETF | Xtrackers Short Duration High Yield Bond ETF | ||||||||||
For the Period January 11, 2018(1) to August 31, 2018 | For the Period January 11, 2018(1) to August 31, 2018 | For the Period January 10, 2018(1) to August 31, 2018 | ||||||||||
Increase (Decrease) in Net Assets from Operations | ||||||||||||
Net investment income (loss) | $ | 5,906,468 | $ | 3,668,878 | $ | 1,195,352 | ||||||
Net realized gain (loss) | (250,530 | ) | (1,084,231 | ) | (64,402 | ) | ||||||
Net change in net unrealized appreciation (depreciation) | (2,600,419 | ) | (1,471,848 | ) | (222,758 | ) | ||||||
|
|
|
|
|
| |||||||
Net increase (decrease) in net assets resulting from operations | 3,055,519 | 1,112,799 | 908,192 | |||||||||
|
|
|
|
|
| |||||||
Distributions to Shareholders from | ||||||||||||
Net investment income | (5,126,702 | ) | (3,138,241 | ) | (1,017,257 | ) | ||||||
|
|
|
|
|
| |||||||
Total distributions | (5,126,702 | ) | (3,138,241 | ) | (1,017,257 | ) | ||||||
|
|
|
|
|
| |||||||
Fund Shares Transactions | ||||||||||||
Proceeds from shares sold | 149,584,224 | 139,667,206 | 39,864,822 | |||||||||
|
|
|
|
|
| |||||||
Net increase (decrease) in net assets resulting from fund share transactions | 149,584,224 | 139,667,206 | 39,864,822 | |||||||||
|
|
|
|
|
| |||||||
Total net increase (decrease) in Net Assets | 147,513,041 | 137,641,764 | 39,755,757 | |||||||||
Net Assets | ||||||||||||
Beginning of period | 50 | 50 | 50 | |||||||||
|
|
|
|
|
| |||||||
End of period | $ | 147,513,091 | $ | 137,641,814 | $ | 39,755,807 | ||||||
|
|
|
|
|
| |||||||
Undistributed net investment income | $ | 779,766 | $ | 530,637 | $ | 178,095 | ||||||
|
|
|
|
|
| |||||||
Changes in Shares Outstanding | ||||||||||||
Shares outstanding, beginning of period | 1 | 1 | 1 | |||||||||
Shares sold | 3,000,000 | 2,800,000 | 800,000 | |||||||||
Shares redeemed | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Shares outstanding, end of period | 3,000,001 | 2,800,001 | 800,001 | |||||||||
|
|
|
|
|
|
(1) | Commencement of Operations. |
See Notes to Financial Statements. | 77 |
DBX ETF Trust
Statements of Changes in Net Assets (Continued)
Xtrackers USD High Yield Corporate Bond ETF | ||||||||
Year Ended August 31, 2018 | For the Period December 7, 2016(1) to August 31, 2017 | |||||||
Increase (Decrease) in Net Assets from Operations | ||||||||
Net investment income (loss) | $ | 52,854,950 | $ | 6,672,981 | ||||
Net realized gain (loss) | (1,691,911 | ) | 498,452 | |||||
Net change in net unrealized appreciation (depreciation) | (13,361,568 | ) | 2,121,408 | |||||
|
|
|
| |||||
Net increase (decrease) in net assets resulting from operations | 37,801,471 | 9,292,841 | ||||||
|
|
|
| |||||
Distributions to Shareholders from | ||||||||
Net investment income | (45,466,199 | ) | (6,310,827 | ) | ||||
|
|
|
| |||||
Total distributions | (45,466,199 | ) | (6,310,827 | ) | ||||
|
|
|
| |||||
Fund Shares Transactions | ||||||||
Proceeds from shares sold | 1,813,276,805 | 275,645,051 | ||||||
Value of shares redeemed | (230,205,552 | ) | (58,415,599 | ) | ||||
|
|
|
| |||||
Net increase (decrease) in net assets resulting from fund share transactions | 1,583,071,253 | 217,229,452 | ||||||
|
|
|
| |||||
Total net increase (decrease) in Net Assets | 1,575,406,525 | 220,211,466 | ||||||
Net Assets | ||||||||
Beginning of period | 220,211,516 | 50 | ||||||
|
|
|
| |||||
End of period | $ | 1,795,618,041 | $ | 220,211,516 | ||||
|
|
|
| |||||
Undistributed net investment income | $ | 8,479,077 | $ | 1,090,326 | ||||
|
|
|
| |||||
Changes in Shares Outstanding | ||||||||
Shares outstanding, beginning of period | 4,300,001 | 1 | ||||||
Shares sold | 36,350,000 | 5,450,000 | ||||||
Shares redeemed | (4,650,000 | ) | (1,150,000 | ) | ||||
|
|
|
| |||||
Shares outstanding, end of period | 36,000,001 | 4,300,001 | ||||||
|
|
|
|
(1) | Commencement of Operations. |
See Notes to Financial Statements. | 78 |
DBX ETF Trust
Xtrackers Barclays International Corporate Bond Hedged ETF Selected Per Share Data | Year Ended 8/31/2018 | Period Ended 8/31/2017(a) | ||||||
Net Asset Value, beginning of period | $ | 50.42 | $ | 50.00 | ||||
|
|
|
| |||||
Income (loss) from investment operations: | ||||||||
Net investment income (loss)(b) | 0.38 | 0.43 | ||||||
Net realized and unrealized gain (loss) | 0.44 | 0.91 | ||||||
|
|
|
| |||||
Total from investment operations | 0.82 | 1.34 | ||||||
|
|
|
| |||||
Less distributions from: | ||||||||
Net investment income | (1.13 | ) | (0.92 | ) | ||||
|
|
|
| |||||
Total distributions | (1.13 | ) | (0.92 | ) | ||||
|
|
|
| |||||
Net Asset Value, end of period | $ | 50.11 | $ | 50.42 | ||||
|
|
|
| |||||
Total Return (%) | 1.65 | 2.72 | ** | |||||
Ratios to Average Net Assets and Supplemental Data | ||||||||
Net Assets, end of period ($ millions) | 5 | 5 | ||||||
Ratio of expenses (%) | 0.30 | 0.30 | * | |||||
Ratio of net investment income (loss) (%) | 0.76 | 1.01 | * | |||||
Portfolio turnover rate (%)(c) | 28 | 36 | ** | |||||
Xtrackers Barclays International Treasury Bond Hedged ETF Selected Per Share Data | Year Ended 8/31/2018 | Period Ended 8/31/2017(a) | ||||||
Net Asset Value, beginning of period | $ | 48.97 | $ | 50.00 | ||||
|
|
|
| |||||
Income (loss) from investment operations: | ||||||||
Net investment income (loss)(b) | 0.33 | 0.25 | ||||||
Net realized and unrealized gain (loss) | 0.32 | (0.40 | ) | |||||
|
|
|
| |||||
Total from investment operations | 0.65 | (0.15 | ) | |||||
|
|
|
| |||||
Less distributions from: | ||||||||
Net investment income | (0.63 | ) | (0.88 | ) | ||||
|
|
|
| |||||
Total distributions | (0.63 | ) | (0.88 | ) | ||||
|
|
|
| |||||
Net Asset Value, end of period | $ | 48.99 | $ | 48.97 | ||||
|
|
|
| |||||
Total Return (%) | 1.34 | (0.27 | )(d)** | |||||
Ratios to Average Net Assets and Supplemental Data | ||||||||
Net Assets, end of period ($ millions) | 5 | 5 | ||||||
Ratio of expenses (%) | 0.25 | 0.25 | * | |||||
Ratio of net investment income (loss) (%) | 0.68 | 0.60 | * | |||||
Portfolio turnover rate (%)(c) | 31 | 44 | ** |
(a) | For the period October 25, 2016 (commencement of operations) through August 31, 2017. |
(b) | Based on average shares outstanding during the period. |
(c) | Portfolio turnover rate does not include securities received or delivered from processing creations or redemptions. |
(d) | The Fund’s total return includes a reimbursement by the Advisor for a realized loss on a trade executed incorrectly, which otherwise would have reduced total return by 0.03%. |
* | Annualized. |
** | Not Annualized. |
See Notes to Financial Statements. | 79 |
DBX ETF Trust
Financial Highlights (Continued)
Xtrackers High Beta High Yield Bond ETF Selected Per Share Data | Period Ended 8/31/2018(a) | |||
Net Asset Value, beginning of period | $ | 50.00 | ||
|
| |||
Income (loss) from investment operations: | ||||
Net investment income (loss)(b) | 2.07 | |||
Net realized and unrealized gain (loss) | (1.11 | ) | ||
|
| |||
Total from investment operations | 0.96 | |||
|
| |||
Less distributions from: |
| |||
Net investment income | (1.79 | ) | ||
|
| |||
Total distributions | (1.79 | ) | ||
|
| |||
Net Asset Value, end of period | $ | 49.17 | ||
|
| |||
Total Return (%) | 2.01 | ** | ||
Ratios to Average Net Assets and Supplemental Data | ||||
Net Assets, end of period ($ millions) | 148 | |||
Ratio of expenses (%) | 0.35 | * | ||
Ratio of net investment income (loss) (%) | 6.71 | * | ||
Portfolio turnover rate (%)(c) | 34 | ** | ||
Xtrackers Low Beta High Yield Bond ETF Selected Per Share Data | Period Ended 8/31/2018(a) | |||
Net Asset Value, beginning of period | $ | 50.00 | ||
|
| |||
Income (loss) from investment operations: | ||||
Net investment income (loss)(b) | 1.37 | |||
Net realized and unrealized gain (loss) | (1.05 | ) | ||
|
| |||
Total from investment operations | 0.32 | |||
|
| |||
Less distributions from: |
| |||
Net investment income | (1.16 | ) | ||
|
| |||
Total distributions | (1.16 | ) | ||
|
| |||
Net Asset Value, end of period | $ | 49.16 | ||
|
| |||
Total Return (%) | 0.68 | ** | ||
Ratios to Average Net Assets and Supplemental Data | ||||
Net Assets, end of period ($ millions) | 138 | |||
Ratio of expenses (%) | 0.25 | * | ||
Ratio of net investment income (loss) (%) | 4.44 | * | ||
Portfolio turnover rate (%)(c) | 52 | ** |
(a) | For the period January 11, 2018 (commencement of operations) through August 31, 2018. |
(b) | Based on average shares outstanding during the period. |
(c) | Portfolio turnover rate does not include securities received or delivered from processing creations or redemptions. |
* | Annualized. |
** | Not Annualized. |
See Notes to Financial Statements. | 80 |
DBX ETF Trust
Financial Highlights (Continued)
Xtrackers Short Duration High Yield Bond ETF Selected Per Share Data | Period Ended 8/31/2018(a) | |||||||
Net Asset Value, beginning of period | $ | 50.00 | ||||||
|
| |||||||
Income (loss) from investment operations: | ||||||||
Net investment income (loss)(c) | 1.76 | |||||||
Net realized and unrealized gain (loss) | (0.59 | ) | ||||||
|
| |||||||
Total from investment operations | 1.17 | |||||||
|
| |||||||
Less distributions from: |
| |||||||
Net investment income | (1.48 | ) | ||||||
|
| |||||||
Total distributions | (1.48 | ) | ||||||
|
| |||||||
Net Asset Value, end of period | $ | 49.69 | ||||||
|
| |||||||
Total Return (%) | 2.41 | ** | ||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||
Net Assets, end of period ($ millions) | 40 | |||||||
Ratio of expenses (%) | 0.20 | * | ||||||
Ratio of net investment income (loss) (%) | 5.56 | * | ||||||
Portfolio turnover rate (%)(d) | 37 | ** | ||||||
Xtrackers USD High Yield Corporate Bond ETF Selected Per Share Data | Year Ended 8/31/2018 | Period Ended 8/31/2017(b) | ||||||
Net Asset Value, beginning of period | $ | 51.21 | $ | 50.00 | ||||
|
|
|
| |||||
Income (loss) from investment operations: | ||||||||
Net investment income (loss)(c) | 2.89 | 2.07 | ||||||
Net realized and unrealized gain (loss) | (1.53 | ) | 1.11 | |||||
|
|
|
| |||||
Total from investment operations | 1.36 | 3.18 | ||||||
|
|
|
| |||||
Less distributions from: |
| |||||||
Net investment income | (2.69 | ) | (1.97 | ) | ||||
|
|
|
| |||||
Total distributions | (2.69 | ) | (1.97 | ) | ||||
|
|
|
| |||||
Net Asset Value, end of period | $ | 49.88 | $ | 51.21 | ||||
|
|
|
| |||||
Total Return (%) | 2.76 | (e) | 6.43 | ** | ||||
Ratios to Average Net Assets and Supplemental Data | ||||||||
Net Assets, end of period ($ millions) | 1,796 | 220 | ||||||
Ratio of expenses before fee waiver (%) | 0.20 | * | 0.25 | * | ||||
Ratio of expenses after fee waiver (%) | 0.20 | * | 0.25 | * | ||||
Ratio of net investment income (loss) (%) | 5.86 | * | 5.57 | * | ||||
Portfolio turnover rate (%)(d) | 32 | ** | 36 | ** |
(a) | For the period January 10, 2018 (commencement of operations) through August 31, 2018. |
(b) | For the period December 7, 2016 (commencement of operations) through August 31, 2017. |
(c) | Based on average shares outstanding during the period. |
(d) | Portfolio turnover rate does not include securities received or delivered from processing creations or redemptions. |
(e) | The Total Return would have been lower if certain fees had not been reimbursed by the Advisor. |
* | Annualized. |
** | Not Annualized. |
See Notes to Financial Statements. | 81 |
DBX ETF Trust
1. Organization
DBX ETF Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “Act”), as an open-end registered management investment company organized as a Delaware statutory trust.
As of August 31, 2018, the Trust consists of thirty-four 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 Barclays International Corporate Bond Hedged ETF |
Xtrackers Barclays International Treasury Bond Hedged ETF |
Xtrackers High Beta High Yield Bond ETF |
Xtrackers Low Beta High Yield Bond ETF |
Xtrackers Short Duration High Yield Bond ETF |
Xtrackers USD High Yield Corporate Bond ETF |
DBX Advisors LLC (“DBX” or the “Advisor”), an indirect, wholly-owned subsidiary of DWS Group Gmbh & Co. KGaA (“DWS Group”), serves as investment advisor to the Funds and has overall responsibility for the general management and administration of the Funds, subject to the supervision of the Funds’ Board of Trustees (“Board”).
Xtrackers Barclays International Corporate Bond Hedged ETF and Xtrackers Barclays International Treasury Bond Hedged ETF offer shares that are listed and traded on the Cboe BZX Exchange (“Cboe”). 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 offer 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, 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 shares may acquire those shares from the Funds, or tender such shares for redemption to the Funds, in Creation Units only.
The investment objective of each Fund is to track the performance, before fees and expenses, of a particular index (the “Underlying Index”). The underlying indices for the Funds are:
Fund | Underlying Index | |
Xtrackers Barclays International Corporate Bond Hedged ETF | Barclays Global Aggregate Corporate Ex USD Bond Index (USD Hedged) | |
Xtrackers Barclays International Treasury Bond Hedged ETF | Barclays Global Aggregate Treasury Ex USD Issuer Diversified Bond Index (USD Hedged) | |
Xtrackers High Beta High Yield Bond ETF | Solactive USD High Yield Corporates Total Market High Beta Index | |
Xtrackers Low Beta High Yield Bond ETF | Solactive USD High Yield Corporates Total Market Low Beta Index | |
Xtrackers Short Duration High Yield Bond ETF | Solactive USD High Yield Corporates Total Market 0-5 Year Index | |
Xtrackers USD High Yield Corporate Bond ETF | Solactive USD High Yield Corporates Total Market Index |
The Barclays Global Aggregate Corporate Ex USD Bond Index (USD Hedged) is designed to track the performance of investment grade corporate debt publicly issued in developed and emerging markets (excluding all securities denominated in U.S. dollars) in the industrial, utility and financial sectors while mitigating exposure to fluctuations between the value of the U.S. dollar and the currencies of the countries included in the Underlying Index. The Barclays Global Aggregate Treasury Ex USD Issuer Diversified Bond Index (USD Hedged) is designed to track the performance of investment grade sovereign debt publicly issued in the developed and emerging markets and denominated in the issuer’s own domestic currency (excluding all securities denominated in U.S. dollars) while mitigating exposure to fluctuations between the value of the U.S. dollar and the currencies of the countries included in the Underlying Index. The Barclays Hedged Indices are rebalanced monthly on the last trading day of the month, when the index will reflect the effect of rolling into new 1-month forward contracts based on the newly determined weights of currency to be sold for the next month’s index calculation. The currency weights are determined as of the last calendar day of the preceding month. This means that no changes
82
DBX ETF Trust
Notes to Financial Statements (Continued)
in the weights are made during the month to account for changes in the Underlying Index due to price movement of constituent securities. With respect to the bond components of the Underlying Index, the Underlying Index is rebalanced on the last calendar day of the month. No changes are made to constituent holdings other than on month end rebalancing dates.
The Solactive USD High Yield Corporates Total Market High Beta Index is designed to track the performance of the segment of the U.S. dollar-denominated high yield corporate bond market that exhibits higher overall beta to the broader high yield corporate fixed income market. The Solactive USD High Yield Corporates Total Market Low Beta Index is designed to track the performance of the segment of the U.S. dollar-denominated high yield corporate bond market that exhibits lower overall beta to the broader high yield corporate fixed income market. The Solactive USD High Yield Corporates Total Market 0-5 Year Index is designed to track the performance of short-term publicly issued U.S. dollar-denominated below investment grade corporate debt. The Solactive USD High Yield Corporates Total Market Index is designed to track the performance of a basket of U.S. dollar-denominated high yield liquid corporate bonds. The Solactive Indexes are rebalanced monthly on the last business day of each month.
Each Fund is entitled to use its respective Underlying Index pursuant to a licensing agreement between each Index Provider and DBX. There is no charge to the Funds in connection with these licensing agreements.
Each Fund is non-diversified and is not limited by the Act with regard to the percentage of its assets that may be invested in the securities of a single issuer. The securities of a particular issuer (or securities of issuers in particular industries) may dominate the underlying index of such a 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 Net Asset Value (“NAV”), of each Fund’s shares is calculated each business day as of the close of regular trading on the New York Stock Exchange, generally 4:00 p.m. Eastern Time. NAV per share is calculated by dividing a Fund’s net assets by the number of Fund shares outstanding.
Various inputs are used in determining the value of the Funds’ investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, and credit risk). Level 3 includes significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
Corporate and sovereign debt securities are valued at prices supplied by independent pricing services approved by the Funds’ Board. Such services may use various pricing techniques which take into account appropriate factors such as yield, quality, coupon rate, maturity, type of issue, trading characteristics and other data, as well as broker quotes. If the pricing services are unable to provide valuations, securities are valued at the mean between the bid and ask quotations or evaluated prices, as applicable, obtained from broker dealers. These securities are generally categorized as Level 2.
83
DBX ETF Trust
Notes to Financial Statements (Continued)
Investments in open-end investment companies are valued at their net asset value each business day and are categorized as Level 1.
Forward currency contracts are valued at the prevailing forward exchange rate of the underlying currencies and are categorized as Level 2.
Securities and other assets for which market quotations are not readily available or for which the above valuation procedures are deemed not to reflect fair value are valued in a manner that is intended to reflect their fair value as determined in accordance with procedures approved by the Board and are generally categorized as Level 3. In accordance with the Funds’ valuation procedures, factors considered in determining value may include, but are not limited to, the type of the security; the size of the holding; the initial cost of the security; the existence of any contractual restrictions on the security’s disposition; the price and extent of public trading in similar securities of the issuer or of comparable companies; quotations or evaluated prices from broker-dealers and/or pricing services; information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities); an analysis of the company’s or issuer’s financial statements; an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold; length of time of a halt in trading of the security; movement in the security’s proxy index; and with respect to debt securities, the maturity, coupon, creditworthiness, currency denomination and the movement of the market in which the security is normally traded. The value determined under these procedures may differ from published values for the same securities.
Fair value pricing could result in a difference between the prices used to calculate a Fund’s NAV and the prices used by the Fund’s underlying index, which in turn could result in a difference between the Fund’s performance and the performance of the Fund’s underlying index.
Disclosure about the classification of the fair value measurements is included in a table following each 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.
Accounting Standard Update In March 2017, the Financial Accounting Standards Board issued Accounting Standards Update 2017-08, Receivables-Nonrefundable fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities which amends the amortization period for certain purchased callable debt securities. Under the new guidance, premium amortization of purchased callable debt securities that have explicit, non-contingent call features and are callable at fixed prices will be amortized to the earliest call date. The guidance will be applied on a modified retrospective basis and is effective for fiscal years, and their interim periods, beginning after December 15, 2018. Management is currently evaluating the impact of this guidance to the Funds.
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
84
DBX ETF Trust
Notes to Financial Statements (Continued)
reclassification. Dividends and distributions, which exceed earnings and profits for the full year for tax purposes, are reported as a tax return of capital.
In accordance with U.S. GAAP requirements regarding accounting for uncertainties in income taxes, management has analyzed the Funds’ tax positions taken or expected to be taken on foreign, federal and state income tax returns for all open tax years and has concluded that no provision for income tax is required in the Funds’ financial statements.
The Funds’ recognize interest and penalties, if any, related to uncertain tax positions as income tax expense on the Statements of Operations. For the year ended August 31, 2018, the Funds did not incur any interest or penalties.
As of August 31, 2018, 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 Barclays International Corporate Bond Hedged ETF | $ | 66,185 | $ | (121,016 | ) | $ | 56,206 | $ | 1,375 | |||||||
Xtrackers Barclays International Treasury Bond Hedged ETF | 16,001 | (25,743 | ) | (92,749 | ) | (102,491 | ) | |||||||||
Xtrackers High Beta High Yield Bond ETF | 779,766 | (213,295 | ) | (2,637,654 | ) | (2,071,183 | ) | |||||||||
Xtrackers Low Beta High Yield Bond ETF | 530,637 | (1,075,625 | ) | (1,480,454 | ) | (2,025,442 | ) | |||||||||
Xtrackers Short Duration High Yield Bond ETF | 178,095 | (49,118 | ) | (238,042 | ) | (109,065 | ) | |||||||||
Xtrackers USD High Yield Corporate Bond ETF | 8,479,077 | (1,472,733 | ) | (13,160,386 | ) | (6,154,042 | ) |
The tax character of dividends and distributions declared for the periods ended August 31, 2018 and August 31, 2017 were as follows:
Period Ended August 31, 2018 | ||||
Ordinary Income* | ||||
Xtrackers Barclays International Corporate Bond Hedged ETF | $ | 113,203 | ||
Xtrackers Barclays International Treasury Bond Hedged ETF | 63,240 | |||
Xtrackers High Beta High Yield Bond ETF | 5,126,702 | |||
Xtrackers Low Beta High Yield Bond ETF | 3,138,241 | |||
Xtrackers Short Duration High Yield Bond ETF | 1,017,257 | |||
Xtrackers USD High Yield Corporate Bond ETF | 45,466,199 | |||
Period Ended August 31, 2017 | ||||
Ordinary Income* | ||||
Xtrackers Barclays International Corporate Bond Hedged ETF | $ | 91,803 | ||
Xtrackers Barclays International Treasury Bond Hedged ETF | 88,277 | |||
Xtrackers USD High Yield Corporate Bond ETF | 6,310,827 |
* | For tax purposes short-term capital gain distributions are considered ordinary income distributions. |
At August 31, 2018, 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 Barclays International Corporate Bond Hedged ETF | $ | 48,787 | $ | 72,229 | $ | 121,016 | ||||||
Xtrackers Barclays International Treasury Bond Hedged ETF | 25,743 | — | 25,743 | |||||||||
Xtrackers USD High Yield Corporate Bond ETF | 1,726 | — | 1,726 |
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
85
DBX ETF Trust
Notes to Financial Statements (Continued)
taxable year. During the period ended August 31, 2018, the following Funds incurred and will elect to defer post-October capital losses as follows:
Post-October Losses on Capital | ||||
Xtrackers High Beta High Yield Bond ETF | $ | 213,295 | ||
Xtrackers Low Beta High Yield Bond ETF | 1,075,625 | |||
Xtrackers Short Duration High Yield Bond ETF | 49,118 | |||
Xtrackers USD High Yield Corporate Bond ETF | 1,471,007 |
In order to present paid-in capital and accumulated net realized gains or losses on the Statements of Assets and Liabilities that more closely represent their tax character, certain adjustments have been made to additional paid-in capital, undistributed net investment income or loss and accumulated net realized gains or losses on investments. These differences are primarily due to redemptions-in-kind and foreign currency. For the period ended August 31, 2018, the adjustments were as follows:
Undistributed Net Investment Income (Loss) | Undistributed Capital Gains (Accumulated Losses) | Paid-In Capital | ||||||||||
Xtrackers Barclays International Corporate Bond Hedged ETF | $ | 128,055 | $ | (128,055 | ) | $ | — | |||||
Xtrackers Barclays International Treasury Bond Hedged ETF | 66,349 | (66,349 | ) | — | ||||||||
Xtrackers USD High Yield Corporate Bond ETF | — | (961,905 | ) | 961,905 |
As of August 31, 2018, the aggregate cost of investments for federal income tax purposes, the net unrealized appreciation (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 Barclays International Corporate Bond Hedged ETF | $ | 4,851,536 | $ | 57,815 | $ | 130,313 | $ | (72,498 | ) | |||||||
Xtrackers Barclays International Treasury Bond Hedged ETF | 4,876,867 | (74,547 | ) | 90,504 | (165,051 | ) | ||||||||||
Xtrackers High Beta High Yield Bond ETF | 154,286,436 | (2,637,654 | ) | 1,556,723 | (4,194,377 | ) | ||||||||||
Xtrackers Low Beta High Yield Bond ETF | 138,480,825 | (1,480,454 | ) | 240,562 | (1,721,016 | ) | ||||||||||
Xtrackers Short Duration High Yield Bond ETF | 41,298,427 | (238,042 | ) | 272,032 | (510,074 | ) | ||||||||||
Xtrackers USD High Yield Corporate Bond ETF | 1,879,438,061 | (13,160,386 | ) | 10,074,831 | (23,235,217 | ) |
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. Foreign taxes payable as of August 31, 2018, if any, are disclosed in the Funds’ Statements of Assets and Liabilities.
Foreign Currency Translations The books and records of the Fund 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 year 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.
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DBX ETF Trust
Notes to Financial Statements (Continued)
Securities Lending The Funds may lend securities to certain financial institutions under the terms of their securities lending agreement. During the term of the loans the Funds continue to receive interest and dividends generated by the securities and to participate in any changes in their market value. The Funds require the borrowers of the securities to maintain collateral with the Funds consisting of cash and/or U.S. Treasury securities having a value at least equal to the value of the securities loaned. When the collateral falls below specified amounts, the lending agent will use its best effort to obtain additional collateral on the next business day to meet required amounts under the securities lending agreement. During the year ended August 31, 2018, 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 (0.14% annualized effective rate as of August 31, 2018) on the cash collateral invested in DWS Government & Agency Securities Portfolio. The Funds receive compensation for lending their securities either in the form of fees or by earning interest on invested cash collateral net of borrower rebates and fees paid to a lending agent. Either the Fund or the borrower may terminate the loan at any time and the borrower, after notice, is required to return borrowed securities within a standard time period. There may be risks of delay and costs in recovery of securities or even loss of rights in the collateral should the borrower of the securities fail financially. If the Funds are not able to recover securities lent, the Funds may sell the collateral and purchase a replacement investment in the market, incurring the risk that the value of the replacement security is greater than the value of the collateral. The Funds are also subject to all investment risks associated with the reinvestment of any cash collateral received, including, but not limited to, interest rate, credit and liquidity risk associated with such investments.
As of August 31, 2018, the Funds listed below had securities on loan, which were classified as bonds in the Schedule of Investments. The value of the related collateral exceeded the value of the securities loaned at year end.
Remaining Contractual Maturity of the Agreements, as of August 31, 2018 | ||||||||||||||||||||
Overnight and Continuous | <30 Days | Between 30 & 90 days | >90 days | Total | ||||||||||||||||
Securities Lending Transactions |
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Xtrackers High Beta High Yield Bond ETF |
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Corporate Bonds | $ | 7,697,440 | $ | — | $ | — | $ | 199,001 | $ | 7,896,441 | ||||||||||
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Gross amount of recognized liabilities for securities lending transactions |
| $ | 7,896,441 | |||||||||||||||||
Xtrackers Low Beta High Yield Bond ETF |
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Corporate Bonds | $ | 2,990,054 | $ | — | $ | — | $ | — | $ | 2,990,054 | ||||||||||
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Gross amount of recognized liabilities for securities lending transactions |
| $ | 2,990,054 | |||||||||||||||||
Xtrackers Short Duration High Yield Bond ETF |
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Corporate Bonds | $ | 2,437,670 | $ | — | $ | — | $ | 30,709 | $ | 2,468,379 | ||||||||||
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Gross amount of recognized liabilities for securities lending transactions |
| $ | 2,468,379 | |||||||||||||||||
Xtrackers USD High Yield Corporate Bond ETF |
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Corporate Bonds | $ | 111,668,629 | $ | 1,370,312 | $ | 575,249 | $ | 24,691,294 | $ | 138,305,484 | ||||||||||
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Gross amount of recognized liabilities for securities lending transactions |
| $ | 138,305,484 |
During the year ended August 31, 2018, Xtrackers Barclays International Corporate Bond Hedged ETF and Xtrackers Barclays International Treasury Bond Hedged ETF had no securities on loan.
Derivatives
Forward Foreign Currency Contracts Xtrackers Barclays International Corporate Bond Hedged ETF and Xtrackers Barclays International Treasury Bond Hedged ETF enter into forward foreign currency contracts (“forward currency contracts”) designed to offset the Fund’s exposure to non-U.S. currencies. In addition, the Funds may enter into forward currency contracts to facilitate local securities settlements or to protect against currency exposure in connection with distributions to Shareholders.
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DBX ETF Trust
Notes to Financial Statements (Continued)
A forward currency contract is a commitment to purchase or sell a foreign currency at a future date at a negotiated forward rate. For the year ended August 31, 2018, the Funds invested in forward currency contracts to hedge against changes in the value of the U.S. dollar against specified non-U.S. currencies.
The gain or loss arising from the difference between the original contract and the closing of such contract would be included in net realized gain or loss on forward foreign currency contracts. Risks may arise from the potential inability of a counterparty to meet the terms of a contract and from unanticipated movements in the value of a foreign currency relative to the U.S. dollar. The face or contract amount, in U.S. dollars reflects the total exposure the Fund has in that particular currency contract.
A summary of the open forward currency contracts as of August 31, 2018 is included in a table following the Funds’ Schedule of Investments. The investment in forward currency contracts short vs. U.S. dollars had a contract value generally indicative of a range of the total exposure the respective Fund had to the value of non U.S. currencies during the year ended August 31, 2018.
The following tables summarize the value of the Funds’ derivative instruments held as of August 31, 2018 and the related location in the accompanying Statement of Assets and Liabilities, presented by primary underlying risk exposure:
Asset Derivatives | Liability Derivatives | |||||||||||||
Xtrackers Barclays International Corporate Bond Hedged ETF | ||||||||||||||
Foreign exchange contracts | Unrealized appreciation on forward foreign currency contracts | $ | 59,141 | Unrealized depreciation on forward foreign currency contracts | $ | 13,512 | ||||||||
Xtrackers Barclays International Treasury Bond Hedged ETF | ||||||||||||||
Foreign exchange contracts | Unrealized appreciation on forward foreign currency contracts | $ | 54,423 | Unrealized depreciation on forward foreign currency contracts | $ | 20,505 |
Additionally, the amount of realized and unrealized gains and losses on derivative instruments recognized in the Funds’ earnings during the year ended August 31, 2018 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: | ||||
Forward Foreign Currency Contracts — Foreign Exchange Contracts | ||||
Xtrackers Barclays International Corporate Bond Hedged ETF | $ | 142,950 | ||
Xtrackers Barclays International Treasury Bond Hedged ETF | 139,972 | |||
Net Change in Unrealized Appreciation (Depreciation) on: | ||||
Forward Foreign Currency Contracts — Foreign Exchange Contracts | ||||
Xtrackers Barclays International Corporate Bond Hedged ETF | $ | 60,558 | ||
Xtrackers Barclays International Treasury Bond Hedged ETF | 53,075 |
For the year ended August 31, 2018 the average monthly volume of derivatives was as follows:
Forward Foreign Currency Contracts (Contract Value) | ||||
Xtrackers Barclays International Corporate Bond Hedged ETF | $ | (4,978,586 | ) | |
Xtrackers Barclays International Treasury Bond Hedged ETF | (4,666,913 | ) |
As of August 31, 2018, the Funds have transactions subject to enforceable master netting agreements which govern the terms of certain transactions, and reduce the counterparty risk associated with such transactions. Master netting agreements allow a Fund to close out and net total exposure to a counterparty in the event of a deterioration in the credit quality or contractual default with respect to all of the transactions with a counterparty. As defined by the master netting agreement, the Funds may have collateral agreements with certain
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Notes to Financial Statements (Continued)
counterparties to mitigate risk. Interest expense from collateral received, if any, is included in Other expenses on the Statements of Operations. For financial reporting purposes the Statement of Assets and Liabilities generally shows derivatives assets and liabilities on a gross basis, which reflects the full risks and exposures prior to netting. A reconciliation of the gross amounts on the Statement of Assets and Liabilities to the net amounts by counterparty, including any collateral exposure, is included in the following tables:
Gross Amounts of Assets Presented in the Statement of Assets and Liabilities | Financial Instruments and Derivatives Available for Offset | Collateral Received | Net Amount of Derivatives Assets | Gross Amounts of Liabilities Presented in the Statement of Assets and Liabilities | Financial Instruments and Derivatives Available for Offset | Collateral Pledged | Net Amount of Derivatives Liabilities | |||||||||||||||||||||||||
Xtrackers Barclays International Corporate Bond Hedged ETF |
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The Bank of Nova Scotia | $ | 59,141 | $ | (13,512 | ) | $ | — | $ | 45,629 | $ | 13,512 | $ | (13,512 | ) | $ | — | $ | — | ||||||||||||||
Xtrackers Barclays International Treasury Bond Hedged ETF |
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The Bank of Nova Scotia | $ | 54,423 | $ | (20,505 | ) | $ | — | $ | 33,918 | $ | 20,505 | $ | (20,505 | ) | $ | — | $ | — |
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 management fee from each Fund based on each Fund’s average daily net assets, computed and accrued daily and payable monthly, at an annual rate equal to:
Unitary Management Fee | ||||
Xtrackers Barclays International Corporate Bond Hedged ETF | 0.30 | % | ||
Xtrackers Barclays International Treasury Bond Hedged ETF | 0.25 | % | ||
Xtrackers High Beta High Yield Bond ETF | 0.35 | % | ||
Xtrackers Low Beta High Yield Bond ETF | 0.25 | % | ||
Xtrackers Short Duration High Yield Bond ETF | 0.20 | % |
For its investment advisory services to Xtrackers USD High Yield Corporate Bond ETF for the period from September 1, 2017 through November 14, 2017, the Advisor received a unitary management fee based on the Fund’s average daily net assets, computed and accrued daily and payable monthly, at an annual rate equal to 0.25%.
For the period from October 27, 2017 through November 14, 2017, the Advisor had voluntarily agreed to waive a portion of its unitary management fee to the extent necessary to prevent the operating expenses of Xtrackers USD High Yield Corporate Bond ETF from exceeding 0.20% of the Fund’s average daily net assets. For the period from October 27, 2017 through November 14, 2017, the Advisor waived $ 7,524 of expenses to the Fund.
Effective November 15, 2017 the Board of Trustees approved a reduction in Xtrackers USD High Yield Corporate Bond ETF’s unitary management fee to 0.20% and accordingly terminated the Advisor’s voluntary expense limitation.
Out of the unitary management 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, taxes, brokerage expenses, distribution fees or expenses, if any, litigation expenses and extraordinary expenses.
The Bank of New York Mellon, a wholly-owned subsidiary of The Bank of New York Mellon Corporation, serves as Administrator, Custodian, Accounting Agent, Lending Agent and Transfer Agent for each Fund.
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Notes to Financial Statements (Continued)
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 four Trustees, including three Independent Trustees. The Advisor paid retainer fees and attendance fees to each Independent Trustee; retainer fees to the Chairman of the Board of Trustees and the Chairman of the Audit Committee; and attendance fees to each member of the Audit Committee (which is comprised of all of the Funds’ Independent Trustees).
4. Investment Portfolio Transactions
For the year ended August 31, 2018, 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 Barclays International Corporate Bond Hedged ETF | $ | 1,519,970 | $ | 1,362,916 | ||||
Xtrackers Barclays International Treasury Bond Hedged ETF | 1,698,490 | 1,485,430 | ||||||
Xtrackers High Beta High Yield Bond ETF (1) | 45,236,505 | 42,246,446 | ||||||
Xtrackers Low Beta High Yield Bond ETF (1) | 61,204,247 | 60,064,574 | ||||||
Xtrackers Short Duration High Yield Bond ETF (2) | 14,955,168 | 11,226,038 | ||||||
Xtrackers USD High Yield Corporate Bond ETF | 305,011,434 | 285,173,401 |
For the year ended August 31, 2018, the cost of in-kind purchases and proceeds from in-kind sales were as follows:
Purchases | Sales | |||||||
Xtrackers High Beta High Yield Bond ETF (1) | $ | 143,600,935 | $ | — | ||||
Xtrackers Low Beta High Yield Bond ETF (1) | 136,115,847 | — | ||||||
Xtrackers Short Duration High Yield Bond ETF (2) | 35,280,852 | — | ||||||
Xtrackers USD High Yield Corporate Bond ETF | 1,762,395,270 | 226,607,256 |
(1) | For the period January 11, 2018 (commencement of operations) through August 31, 2018. |
(2) | For the period January 10, 2018 (commencement of operations) through August 31, 2018. |
Transactions with Affiliates. The Funds may purchase securities from, or sell securities to, an affiliated fund provided the affiliation is solely due to having a common investment advisor, common officers, or common trustees. During the period ended August 31, 2018, 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) | $ | 8,870,359 | $ | 18,066,056 | $ | 25,809 | ||||||
Xtrackers Low Beta High Yield Bond ETF (1) | 18,066,056 | 8,870,359 | (281,145 | ) |
(1) | For the period January 11, 2018 (commencement of operations) through August 31, 2018. |
5. Fund Share Transactions
As of August 31, 2018, 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.
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DBX ETF Trust
Notes to Financial Statements (Continued)
6. Concentration of Ownership
From time to time, the Funds may have a concentration of several shareholder accounts holding a significant percentage of shares outstanding. Investment activities of these shareholders could have a material impact on the Fund. At August 31, 2018, 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 Barclays International Corporate Bond Hedged ETF | 60 | % | ||
Xtrackers Barclays International Treasury Bond Hedged ETF | 18 | % |
7. Line of Credit
The Trust has entered into a senior unsecured credit facility with a syndication of banks which allows the Xtrackers Barclays International Corporate Bond Hedged ETF, Xtrackers Barclays International Treasury Bond Hedged ETF, 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 Fund’s status as a regulated investment company. Borrowings are charged an interest rate of 1.25% per annum plus the greater of the Federal Funds Effective Rate or the one-month LIBOR Rate. Each Fund may borrow up to the lesser of a pro-rata share of the credit facility at the amount listed below or 33 percent of its net assets as permitted by the Act. The Funds had no outstanding loans at August 31, 2018.
Pro-rata Share | ||||
Xtrackers Barclays International Corporate Bond Hedged ETF | $ | 1,050,000 | ||
Xtrackers Barclays International Treasury Bond Hedged ETF | 1,050,000 | |||
Xtrackers USD High Yield Corporate Bond ETF | 5,250,000 |
8. 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 net asset value of a fund, reduce liquidity for certain investments and/or increase costs. High-yield debt securities are often thinly traded and can be more difficult to sell and value accurately than investment-grade debt securities as there may be no established secondary market. Investments in high-yield debt securities could increase liquidity risk for a fund. In addition, the market for high-yield debt securities can experience sudden and sharp volatility which is generally associated more with investments in stocks.
9. Payments by Affiliates
During the year ended August 31, 2018, the Advisor agreed to reimburse the Xtrackers USD High Yield Corporate Bond ETF $25,000 for a loss incurred on trades executed incorrectly. The amount of the loss was less than 0.01% of the Fund’s average net assets thus having no impact on the Fund’s total return.
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DBX ETF Trust
To the Shareholders of Xtrackers Barclays International Corporate Bond Hedged ETF, Xtrackers Barclays International Treasury Bond Hedged ETF, 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, 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 Barclays International Corporate Bond Hedged ETF, Xtrackers Barclays International Treasury Bond Hedged ETF, 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 (collectively referred to as the “Funds”), (six of the funds constituting DBX ETF Trust), including the schedules of investments, as of August 31, 2018, 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, 2018, 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. general accepted accounting principles.
Individual fund constituting the DBX ETF Trust | Statement of operations | Statements of changes in net assets | Financial highlights | |||
Xtrackers Barclays International Corporate Bond Hedged ETF
Xtrackers Barclays International Treasury Bond Hedged ETF | For the year ended August 31, 2018 | For the year ended August 31, 2018 and the period from October 25, 2016 (commencement of operations) through August 31, 2017 | ||||
Xtrackers USD High Yield Corporate Bond ETF | For the year ended August 31, 2018 | For the year ended August 31, 2018 and the period from December 7, 2016 (commencement of operations) through August 31, 2017 | ||||
Xtrackers High Beta High Yield Bond ETF
Xtrackers Low Beta High Yield Bond ETF | For the period from January 11, 2018 (commencement of operations) through August 31, 2018 | |||||
Xtrackers Short Duration High Yield Bond ETF | For the period from January 10, 2018 (commencement of operations) through August 31, 2018 |
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 the 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.
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DBX ETF Trust
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, 2018, by correspondence with the custodians and brokers or by other appropriate auditing procedures where replies from brokers were not received. 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 29, 2018
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DBX ETF Trust
Name, Year of Birth and Address | Position(s) Held with Fund | Terms of Office and Length of Time Served | Principal Occupation(s) During Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships held by Trustee | |||||
Independent Trustees | ||||||||||
Stephen R. Byers (1953) 345 Park Avenue New York, New York 10154 | Trustee, Chairman of the Board and Member of the Audit and Nominating Committees; formerly, Lead Independent Trustee | Trustee since 2011 (Chairman | Independent Director (2011-present); Independent Consultant (2014-present); formerly, Director of Investment Management, the Dreyfus Corporation (2000-2006) and Vice Chairman and Chief Investment Officer (2002-2006). | 34 | The Arbitrage Funds; Sierra Income Corporation; Mutual Fund Directors Forum. | |||||
George O. Elston (1964) 345 Park Avenue New York, New York 10154 | Trustee, Chairman of the Audit Committee and Member of the Nominating Committee | Trustee since 2011 (Chairman | Chief Executive Officer, 2X Oncology, Inc. (2017-present); Senior Vice President and Chief Financial Officer, Juniper Pharmaceuticals, Inc. (2014-2016); Senior Vice President and Chief Financial Officer, KBI BioPharma Inc. (2013-2014); Managing Partner, Chatham Street Partners (2010-2013). | 34 | ||||||
J. David Officer (1948) 345 Park Avenue New York, New York 10154 | Trustee, Chairman of the Nominating Committee and Member of the Audit Committee | Trustee since 2011 (Chairman | Independent Director (2010-present); formerly, Vice Chairman, the Dreyfus Corporation (2006-2009); President, The Dreyfus Family of Funds, Inc. (2006-2009). | 34 | Ilex Partners (Asia), LLC; Old Westbury Funds. |
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DBX ETF Trust
Trustees and Officers (Unaudited) (Continued)
Name, Year of Birth and Address | Position(s) Held with Fund | Terms of Office and Length of Time Served | Principal Occupation(s) During Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships held by Trustee | |||||
Interested Trustee | ||||||||||
Michael Gilligan (1966) 345 Park Avenue New York, New York 10154 | Trustee Treasurer, Chief Financial Officer and Controller | Trustee since 2016; Treasurer, Chief Financial Officer and Controller since 2010 | Director in the Finance Division at DWS Investment Management Americas, Inc. (2008-present); Manager, Treasurer and Chief Financial Officer of the Advisor (2010-present); Chief Financial Officer of Global Passive Asset Management Platform (2012-present); Chief Financial Officer of RREEF America LLC (2018-present). | 34 | The Advisor, DBX Strategic Advisors LLC and DB Commodity Services LLC | |||||
Name, Year of Birth and Address | Position(s) Held with Fund | Terms of Office and Length of Time Served | Principal Occupation(s) During Past 5 Years | |||||||
Officers | ||||||||||
Freddi Klassen (1975) 345 Park Avenue New York, New York 10154 | President and Chief Executive Officer | Since 2016 | Director in DWS and Chief of Staff Office in the Americas for the Traditional Asset Classes Department (2014-present); Manager and Chief Operating Officer of DWS Investment Management Americas, Inc. (2018-present), the Advisor and DBX Strategic Advisors LLC and DB Commodity Services LLC (2016-present); Global Chief Operating Officer for Equities Technology in the Investment Bank Division at Deutsche Bank AG (2013-2014); Chief Operating Officer for Exchange Traded Funds and Systematic Funds in Europe (2008-2013). | |||||||
Fiona Bassett (1974) 345 Park Avenue New York, New York 10154 | Chief Operating Officer | Since 2014 | Managing Director in DWS and Head of Passive Americas Asset Management Platform (2014-present); Manager and Chief Executive Officer and Chief Investment Officer of the Advisor (2014-present); Managing Director, COO Global Key Projects and Integration at Deutsche Asset Management (2012-2014); Managing Director at Deutsche Bank AG (2004-2012). |
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DBX ETF Trust
Trustees and Officers (Unaudited) (Continued)
Name, Year of Birth and Address | Position(s) Held with Fund | Terms of Office and Length of Time Served | Principal Occupation(s) During Past 5 Years | |||||||
Frank Gecsedi (1967) 345 Park Avenue New York, New York 10154 | Chief Compliance Officer | Since 2010 | Director in the DWS Compliance Department (2016-present), Vice President in the Deutsche Asset Management Compliance Department at Deutsche Bank AG (2013-2016) and Chief Compliance Officer of the Advisor (2010-present); Vice President in Deutsche Bank’s Global Markets Legal, Risk and Capital Division (2010-2012). | |||||||
Bryan Richards (1978) 345 Park Avenue New York New York 10154 | Vice President | Since 2016 | Managing Director in DWS (2018-present); Director in DWS (2014-2018); Portfolio Manager in the Passive Asset Management Department at Deutsche Bank AG (2011-present); Primary Portfolio Manager for the PowerShares DB Commodity ETFs (2011-2015). | |||||||
Leslie Lowenbraun (1953) 345 Park Avenue New York, New York 10154 | Secretary | Since 2016 | Director in U.S. Retail Passive Legal of DWS (2018-present) and Chief Legal Officer of the Advisor (2017-present); Vice President in U.S. Retail Passive Legal of DWS (2014-2018) ; Counsel at Skadden, Arps, Slate, Meagher & Flom LLP (2005-2014). | |||||||
Amy McDonald (1978) One International Place Boston, Massachusetts 02110 | Assistant Secretary | Since 2018 | Vice President in U.S. Retail Passive Legal of DWS (2018-present); Vice President, Fidelity Investments Asset Management Compliance (2016-2017); Legal Counsel and Senior Legal Counsel, Fidelity Investments (2010-2016). | |||||||
Kevin Teevan (1973) 345 Park Avenue New York, New York 10154 | Assistant Treasurer | Since 2018 | Vice President in Finance for U.S. Traditional Asset Classes of DWS (2018-present); Vice President in Chief Operating Office for Global Transaction Banking at Deutsche Bank AG (2014-2017); Vice President in Finance for U.S. Passive Asset Management Platform at Deutsche Bank AG (2011-2014). | |||||||
Christina A. Morse (1964) BNY Mellon Asset Servicing, Atlantic Terminal Office Tower, 2 Hanson Place Brooklyn, NY 11217 | Assistant Secretary | Since 2016 | Vice President at BNY Mellon-Asset Servicing (2014-present); Vice President and Counsel at Lord Abbett & Co. LLC (2013-2014). |
Each Trustee serves until his or her successor is duly elected or appointed and qualified. Each officer serves until he or she resigns, is removed, dies, retires or becomes disqualified.
The Funds’ SAI includes additional information about the Funds’ Trustees and is available by calling 855-329-3837, or on the Company’s website at www.Xtrackers.com
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DBX ETF Trust
Proxy Voting Policies and Procedures
The Funds’ policies and procedures for voting proxies for portfolio securities and information about how each Fund voted proxies related to its portfolio securities during the most recent 12-month period ended June 30 are available on our Web site — www.Xtrackers.com (click on “Resources” and “Proxy Voting” at the top of the page) — or on the SEC’s Web site — www.sec.gov. To obtain a written copy of the Funds’ policies and procedures without charge, upon request, call us toll free at 855-329-3837.
Quarterly Portfolio Disclosure
The Funds are required to file their complete schedule of portfolio holdings with the SEC for their first and third fiscal quarters on Form N-Q. Copies of the filings are available without charge, upon request on the SEC’s website at www.sec.gov and are available by calling the Trust at 855-329-3837. You can also obtain copies of Form N-Q by (i) visiting the SEC’s Public Reference Room in Washington, DC (information on the operation of the Public Reference Room may be obtained by calling 800-SEC-0330); (ii) sending your request and a duplicating fee to the SEC’s Public Reference Room, Washington, DC 20549-0102; or (iii) sending your request electronically to publicinfo@sec.gov.
Information about each Fund’s portfolio holdings is available daily at www.Xtrackers.com.
Discount/Premium Information
Information regarding how often shares of each Fund traded on NYSE Arca or Cboe, as applicable, at a price above (i.e., at a premium) or below (i.e., at a discount) the Net Asset Value of the Fund can be found at www.Xtrackers.com.
Tax Information
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.
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DBX ETF Trust
DBX Advisors LLC (“Advisors”) collects non-public information about you from the following sources: (i) information received from you on applications or other forms; and (ii) information about your transactions with the Advisors, Advisors’ affiliates and third-party service providers and vendors. Advisors does not disclose any non-public personal information about you to anyone, other than as set forth below, as permitted by applicable law and regulation. Advisors may disclose non-public personal information about you to the funds in which you invest, to Advisors’ affiliates, and to non-affiliated companies that work with Advisors to service your account(s), or to provide services or process transactions that you have requested. Advisors may disclose non-public personal information in situations that may include, but are not limited to, in response to legal and/or regulatory inquiries and the proposed or actual sale, assignment merger or other transfer of all or a portion of Advisors’ business to another business entity. Advisors may also disclose non-public personal information about you to parties representing you, such as your investment representative, your accountant, your tax advisor, or to other third parties at your direction/consent. Advisors will not sell, rent, license or trade your personal and financial information to or with third parties for their own direct marketing use unless you give us general or specific consent to do so. If you decide to close your account(s) or become an inactive customer, Advisors will adhere to the privacy policies and practices as described in this notice. Advisors restricts access to your personal and account information to those employees who need to know that information to provide products and services to you. Advisors maintains reasonable and customary physical, electronic and procedural safeguards to guard your non-public personal information.
Advisors reserves the right, at their discretion, to change, modify, add, or remove portions of this Privacy Policy Notice, and any of the policies described herein, at any time. Advisors will indicate any such changes to the Privacy Policy Notice at the privacy link which can be found at www.Xtrackers.com. At all times, you are bound by the then-current version of the Privacy Policy and all applicable laws. Advisors highly recommends that you review this Privacy Policy Notice from time to time to ensure that you are familiar with the most recent version. The examples contained in this Privacy Policy Notice are illustrations; they are not intended to be exclusive.
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This report is intended for the shareholders of the DBX ETF Trust.
This report must be preceded or accompanied by a prospectus.
Investing involves risk, including the possible loss of principal. Bond investments are subject to interest rate, credit, liquidity and market risks to varying degrees. When interest rates rise, bond prices generally fall. Foreign investing involves greater and different risks than investing in U.S. companies, including currency fluctuations, less liquidity, less developed or less efficient trading markets, lack of comprehensive company information, political instability and differing auditing and legal standards. 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, or group of industries, country or in a limited geographic region generally are more volatile than more diversified funds. Investments in lower-quality (“junk bonds”) and non-rated securities present greater risk of loss than investments in higher-quality securities. Distressed securities are speculative and involve substantial risks beyond the risks of investing in junk bonds, such as no interest payments or repayment of principal, or the loss of the entire investment in the distressed security. These funds are non-diversified and can take larger positions in fewer issues, increasing their potential risk. Credit risk refers to the ability of an issuer to make timely payments of principal and interest. Investing in derivatives entails special risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility. A Fund’s use of forward currency contracts may not be successful in hedging currency exchange rates changes and could eliminate some or all of the benefit of an increase in the value of a foreign currency versus the U.S. dollar. Performance of the Funds may diverge from that of the Underlying Index due to operating expenses, transaction costs, cash flows, use of sampling strategies or operational inefficiencies. An investment in these Funds should be considered only as a supplement to a complete investment program for those investors willing to accept the risks associated with the Funds. Please read the prospectus for more information.
Shares of the Funds are bought and sold at market price (not NAV) throughout the day on the New York Stock Exchange or Cboe BZX Exchange, Inc., as applicable. Transactions in Fund shares may result in brokerage commissions and may generate tax consequences. There can be no assurance that an active trading market for shares of a Fund will develop or be maintained.
DBX ETF Trust Funds are distributed by ALPS Distributors, Inc. (“ALPS”) The Funds are managed by DBX Advisors LLC which is not affiliated with ALPS.
The brand DWS represents DWS Group GmbH & Co. KGaA and any of its subsidiaries such as DWS Distributors, Inc. which offers investment products or DWS Investment Management Americas Inc. and RREEF America L.L.C. which offer advisory services.
HYUP, HYDW, SHYL, and HYLB are not sponsored, promoted, sold or supported in any other manner by Solactive AG (the “Licensor”) nor does the trademark or the Index Price at any time or in any other respect.
Barclays Bank PLC and its affiliates (“Barclays”) are not the issuer or producer of Xtrackers Barclays International Treasury Bond Hedged ETF or Xtrackers Barclays International Corporate Bond Hedged ETF (the “Funds”) and Barclays has no responsibilities, obligations or duties to investors in the Funds.
Copyright © 2018 DWS Group. All rights reserved. XtrackersTM is a trademark of DWS Group GmbH. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
Not FDIC Insured | No Bank Guarantee | May Lose Value
DBX ETF Trust
Investment advisor DBX Advisors LLC 345 Park Avenue New York, NY 10154 | Administrator, custodian, fund accounting agent, lending agent & transfer agent The Bank of New York Mellon 240 Greenwich Street New York, NY 10286 | Distributor ALPS Distributors, Inc. 1290 Broadway Suite 1100 Denver, CO 80203 | ||
Independent registered public accounting firm Ernst & Young LLP 5 Times Square New York, NY 10036 | Legal counsel Dechert LLP 1095 Avenue of the Americas New York, NY 10036 |
R-052201-2 (10/18) DBX003551 (10/19)
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. |
(c) | 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. |
(d) | 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 $259,680 for 2018 and $168,680 for 2017. |
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 2018 and $25,000 for 2017. These services consisted of security counts related to Rule 17f-2 under the Investment Company Act of 1940. |
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 $168,555 for 2018 and $193,242 for 2017. |
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 2018 and $0 for 2017. |
(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. |
(f) | Not Applicable |
(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 2018 and $0 for 2017. |
(h) | The registrant’s audit committee of the board of directors 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. |
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 in securities of unaffiliated issuers as of the close of the reporting period is included as part of the report to shareholders filed under Item 1 of this form. |
(b) | Not applicable. |
Item 7. | Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies. |
Not applicable.
Item 8. | Portfolio Managers of Closed-End Management Investment Companies. |
Not applicable.
Item 9. | Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers. |
Not applicable.
Item 10. | Submission of Matters to a Vote of Security Holders. |
There were no material changes to the procedures by which shareholders may recommend nominees to the Registrant’s Board of Trustees.
Item 11. | Controls and Procedures. |
(a) | The Chief Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on the evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report. |
(b) | There have been no changes in the registrant’s internal control over financial reporting that occurred during the last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal controls over financial reporting. |
Item 12. | Disclosure of Securities Lending Activities for Closed-End Management Investment Companies |
Not applicable.
Item 13. | Exhibits. |
(a)(1) | Code of ethics, or any amendment thereto, that is the subject of disclosure required by Item 2 is attached hereto. |
(a)(2) | Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto. |
(a)(3) | Not applicable. |
(a)(4) | Not applicable. |
(b) | Certifications pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) | DBX ETF Trust | |||
By (Signature and Title)* | /s/ Freddi Klassen | |||
Freddi Klassen | ||||
President and Chief Executive Officer |
Date November 2, 2018
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title)* | /s/ Freddi Klassen | |||
Freddi Klassen | ||||
President and Chief Executive Officer |
Date November 2, 2018
By (Signature and Title)* | /s/ Michael Gilligan | |||
Michael Gilligan | ||||
Treasurer, Chief Financial Officer and Controller |
Date November 2, 2018
* | Print the name and title of each signing officer under his or her signature. |