UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORMN-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number811-22487
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: February 28, 2019
FormN-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 Rule30e-1 under the Investment Company Act of 1940 (17 CFR270.30e-1). The Commission may use the information provided on FormN-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by FormN-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in FormN-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.
The Report to Shareholders is attached herewith.
February 28, 2019
Semi-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
Page | ||||
1 | ||||
Portfolio Summary | ||||
2 | ||||
3 | ||||
4 | ||||
5 | ||||
6 | ||||
7 | ||||
Schedule of Investments | ||||
8 | ||||
22 | ||||
32 | ||||
41 | ||||
46 | ||||
62 | ||||
64 | ||||
66 | ||||
69 | ||||
72 | ||||
Board Considerations in Approval of Investment Advisory Contracts | 81 | |||
83 | ||||
84 |
To our Shareholders:(Unaudited)
Dear Shareholder,
We are pleased to provide this semi-annual report for our five comprehensive factor equity ETFs for the period ended February 28, 2019.
Global economic growth held on in positive territory as the flag bearer, the U.S., anchored robust GDP owing to an improvement in fiscal stimulus and job markets. Despite tax cuts and a stronger currency under the Trump administration, resilient business sentiment drove growth a notch higher in the U.S. Growth in the Eurozone had slowed during the period, weighed down by lower manufacturing index readings in Germany, civil unrest in France and a lack of resolution on Brexit proceedings. Interest rates were, by and large, accommodative from major central banks, namely the European Central Bank (ECB), the Bank of China (BoC), the Bank of Japan (BoJ) and even the Federal Reserve (Fed), which carried out interest rate hikes at a slower pace. However, they failed to improve inflation numbers within their respective economies, which ended lower. In a shift of focus, emerging economies were vulnerable amid a trade war among major economies and a strong USD, which hurt growth factors.
In the U.S., tax reforms provided the required fiscal stimulus, boosting investor confidence, business and government investment, and corporate earnings. Equity markets spiked on these advantageous conditions, reachingall-time highs and validating market sentiments. Job markets witnessed some volatility, partially due to the temporary government shutdown, but the vast retiring workforce and tighter immigration regulations returned the unemployment rate to one of the lowest in the near term. On the flip side, the trade deficit reported the largest gap as a result of the many political battles the government had taken up simultaneously.
The ECB continued to maintain an easy monetary framework with a view to achieve their long-term inflation targets. Eurozone GDP was reduced substantially from the start of the review period, mainly due to a fall in inventories. Household consumption, government spending and fixed investments partly offset the fall and maintained growth. In addition, the ECB promised its support by indicating a longer zero benchmark phase and by unveiling cheaper funding for banks. Unemployment fell to its lowest in the past decade, signaling optimism. Furthermore, the trade surplus widened on the back of steady exports.
China’s GDP growth fell to its lowest point in 28 years, riddled by a fierce trade war with the U.S. and a shadow-banking outburst. The Japanese economy reported a similar fate as growth slipped due to weak output and exports. Following the same trajectory, inflation rates in both countries were a far cry from their central banks’ targets. Equity markets in China and Japan stumbled for a brief phase, before ending at a sideways position for the period.
As the global economic markets continue this long run of the growth cycle, it is expected to move further at a slower pace than before. On the sidelines, however, a dark tunnel ahead of government policy issues like the unfriendly global trade environment and Brexit negotiations remains a source of concern. In such volatile markets, diversifying factors may be a better positioning 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. We believe it takes advantage of the relatively uncorrelated nature of their excess returns, and mitigates the need to try and time a particular market cycle.
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
Assumptions, estimates and opinions contained in this document constitute our judgment as of the date of the document and are subject to change without notice. Any projections are based on a number of assumptions as to market conditions and there can be no guarantee that any projected results will be achieved. Past performance is not a guarantee of future results.
1
DBX ETF Trust
Portfolio Summary(Unaudited)
Xtrackers FTSE Developed ex US Comprehensive Factor ETF (DEEF)
The Xtrackers FTSE Developed ex US Comprehensive Factor ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the FTSE Developed ex US Comprehensive Factor Index (the “Underlying Index”). The Underlying Index is designed to track the equity market performance of companies in developed countries (except the United States) selected on the investment style criteria (“factors”) of value, momentum, quality, low volatility and size. The companies eligible for the Underlying Index are derived from its starting universe, the FTSE Developed ex US Index, which is comprised of large- andmid-capitalization equity securities from developed markets (except the United States). It is not possible to invest directly into an index.
Ten Largest Equity Holdings as of 2/28/19 (8.2% of Net Assets) |
Description | % of Net Assets | |||
Link (Hong Kong) | 1.3% | |||
Dexus (Australia) | 1.0% | |||
Koninklijke Ahold Delhaize NV (Netherlands) | 1.0% | |||
Scentre Group (Australia) | 0.9% | |||
Segro PLC (United Kingdom) | 0.8% | |||
GPT Group (Australia) | 0.7% | |||
Magna International, Inc. (Canada) | 0.7% | |||
Koninklijke DSM NV (Netherlands) | 0.6% | |||
Mirvac Group (Australia) | 0.6% | |||
Rio Tinto Ltd. (United Kingdom) | 0.6% |
Country Diversification* as of 2/28/19 |
Japan | 24.9% | |||
United Kingdom | 13.6% | |||
Australia | 11.7% | |||
Canada | 6.3% | |||
France | 5.1% | |||
Sweden | 4.9% | |||
Germany | 4.9% | |||
Hong Kong | 4.6% | |||
Switzerland | 2.8% | |||
Singapore | 2.7% | |||
Netherlands | 2.7% | |||
South Korea | 2.6% | |||
Spain | 2.2% | |||
Other | 11.0% | |||
|
| |||
Total | 100.0% |
Sector Diversification* as of 2/28/19 |
Industrials | 22.6% | |||
Real Estate | 14.0% | |||
Consumer Discretionary | 10.9% | |||
Materials | 10.1% | |||
Consumer Staples | 8.7% | |||
Utilities | 8.1% | |||
Financials | 7.9% | |||
Communication Services | 4.9% | |||
Energy | 4.4% | |||
Health Care | 4.2% | |||
Information Technology | 4.2% | |||
|
| |||
Total | 100.0% |
* As a percent of total investments excluding securities lending collateral and cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 8.
2
DBX ETF Trust
Portfolio Summary(Unaudited)
Xtrackers FTSE Emerging Comprehensive Factor ETF (DEMG)
Xtrackers FTSE Emerging Comprehensive Factor ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the FTSE 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- andmid-cap equity securities from emerging markets. It is not possible to invest directly into an index.
Ten Largest Equity Holdings as of 2/28/19 (10.2% of Net Assets) |
Description | % of Net Assets | |||
China Petroleum & Chemical Corp. (China) | 1.7% | |||
PetroChina Co. Ltd. (China) | 1.6% | |||
China Shenhua Energy Co. Ltd. (China) | 1.3% | |||
SPAR Group Ltd. (South Africa) | 1.1% | |||
Sime Darby Bhd (Malaysia) | 0.8% | |||
AU Optronics Corp. (Taiwan) | 0.8% | |||
Novatek Microelectronics Corp. (Taiwan) | 0.8% | |||
Pick n Pay Stores Ltd. (South Africa) | 0.7% | |||
Tupras Turkiye Petrol Rafinerileri AS (Turkey) | 0.7% | |||
LUKOIL PJSC (Russia) | 0.7% |
Country Diversification* as of 2/28/19 |
China | 19.2% | |||
Taiwan | 14.7% | |||
South Africa | 11.3% | |||
India | 7.0% | |||
Brazil | 6.9% | |||
Thailand | 6.2% | |||
Malaysia | 5.6% | |||
Mexico | 4.9% | |||
Russia | 4.2% | |||
Turkey | 3.3% | |||
Hong Kong | 3.2% | |||
Chile | 2.9% | |||
Qatar | 2.0% | |||
Other | 8.6% | |||
|
| |||
Total | 100.0% |
Sector Diversification* as of 2/28/19 |
Industrials | 12.8% | |||
Financials | 12.8% | |||
Energy | 12.8% | |||
Consumer Staples | 11.4% | |||
Materials | 11.3% | |||
Utilities | 9.2% | |||
Information Technology | 8.4% | |||
Consumer Discretionary | 7.1% | |||
Communication Services | 5.9% | |||
Real Estate | 5.7% | |||
Health Care | 2.6% | |||
|
| |||
Total | 100.0% |
* As a percent of total investments excluding exchange-traded funds, securities lending collateral and cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 22.
3
DBX ETF Trust
Portfolio Summary(Unaudited)
Xtrackers Russell 1000 Comprehensive Factor ETF (DEUS)
Xtrackers Russell 1000 Comprehensive Factor ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the Russell 1000 Comprehensive Factor Index (the “Underlying Index”). The Underlying Index is designed to track the equity market performance of companies in the United States selected on the investment style criteria (“factors”) of value, momentum, quality, low volatility and size. The companies eligible for the Underlying Index are derived from its starting universe, the Russell 1000 Index, which is comprised oflarge-cap equity securities from issuers in the United States. It is not possible to invest directly into an index.
Ten Largest Equity Holdings as of 2/28/19 (6.6% of Net Assets) |
Description | % of Net Assets | |||
Target Corp. | 0.8% | |||
AutoZone, Inc. | 0.8% | |||
Darden Restaurants, Inc. | 0.7% | |||
Torchmark Corp. | 0.7% | |||
Sysco Corp. | 0.6% | |||
CDW Corp. | 0.6% | |||
TJX Cos., Inc. | 0.6% | |||
UGI Corp. | 0.6% | |||
Starbucks Corp. | 0.6% | |||
Ross Stores, Inc. | 0.6% |
Sector Diversification* as of 2/28/19 |
Industrials | 16.2% | |||
Consumer Discretionary | 15.8% | |||
Information Technology | 15.6% | |||
Financials | 11.2% | |||
Health Care | 9.5% | |||
Utilities | 9.0% | |||
Consumer Staples | 7.0% | |||
Real Estate | 5.5% | |||
Materials | 4.9% | |||
Communication Services | 3.2% | |||
Energy | 2.1% | |||
|
| |||
Total | 100.0% |
* As a percent of total investments excluding securities lending collateral and cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 32.
4
DBX ETF Trust
Portfolio Summary(Unaudited)
Xtrackers Russell 1000 US QARP ETF (QARP)
Xtrackers Russell 1000 US QARP ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the Russell 1000 2Qual/Val 5% Capped Factor Index (the “Underlying Index”). The Underlying Index is designed to track the equity market performance of companies in the United States selected on the investment style criteria (“factors”) of quality and value. The companies eligible for the Underlying Index are derived from its starting universe, the Russell 1000 Index, which is comprised oflarge-cap equity securities from issuers in the United States. It is not possible to invest directly into an index.
Ten Largest Equity Holdings as of 2/28/19 (30.0% of Net Assets) |
Description | % of Net Assets | |||
Apple, Inc. | 4.4% | |||
Alphabet, Inc. | 3.7% | |||
Johnson & Johnson | 3.5% | |||
Exxon Mobil Corp. | 3.4% | |||
Boeing Co. | 3.2% | |||
Procter & Gamble Co. | 2.5% | |||
Intel Corp. | 2.5% | |||
Home Depot, Inc. | 2.3% | |||
Visa, Inc. | 2.3% | |||
Walmart, Inc. | 2.2% |
Sector Diversification* as of 2/28/19 |
Information Technology | 19.5% | |||
Health Care | 14.7% | |||
Consumer Discretionary | 14.0% | |||
Industrials | 13.3% | |||
Consumer Staples | 12.1% | |||
Communication Services | 9.3% | |||
Energy | 7.1% | |||
Financials | 4.3% | |||
Materials | 2.1% | |||
Utilities | 1.9% | |||
Real Estate | 1.7% | |||
|
| |||
Total | 100.0% |
* As a percent of total investments excluding securities lending collateral and cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 41.
5
DBX ETF Trust
Portfolio Summary(Unaudited)
Xtrackers Russell 2000 Comprehensive Factor ETF (DESC)
Xtrackers Russell 2000 Comprehensive Factor ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the Russell 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 ofsmall-cap equity securities from issuers in the United States. It is not possible to invest directly into an index.
Ten Largest Equity Holdings as of 2/28/19 (3.3% of Net Assets) |
Description | % of Net Assets | |||
Genesco, Inc. | 0.5% | |||
Arbor Realty Trust, Inc. | 0.4% | |||
Warrior Met Coal, Inc. | 0.4% | |||
Brinker International, Inc. | 0.3% | |||
Renewable Energy Group, Inc. | 0.3% | |||
ICF International, Inc. | 0.3% | |||
PennyMac Mortgage Investment Trust | 0.3% | |||
National HealthCare Corp. | 0.3% | |||
BJ’s Restaurants, Inc. | 0.3% | |||
Caleres, Inc. | 0.2% |
Sector Diversification* as of 2/28/19 |
Financials | 27.6% | |||
Industrials | 16.4% | |||
Consumer Discretionary | 13.9% | |||
Information Technology | 10.3% | |||
Real Estate | 8.0% | |||
Health Care | 7.5% | |||
Materials | 3.8% | |||
Consumer Staples | 3.4% | |||
Energy | 3.1% | |||
Communication Services | 3.1% | |||
Utilities | 2.9% | |||
|
| |||
Total | 100.0% |
* As a percent of total investments excluding exchange-traded funds, securities lending collateral and cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 46.
6
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 recentsix-month period the Funds limited these expenses; had they not done so, expenses would have been higher. The expense examples below are intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with the ongoing costs of investing in other funds.
The examples in the table are based on an investment of $1,000 invested at the beginning of thesix-month period and held for the entire period (September 1, 2018 to February 28, 2019).
Actual expenses
The first line in the following tables provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading “Expenses Paid During the Period” to estimate the expenses you paid on your account during this period.
Hypothetical example for comparison purposes
The second line in the following tables provides information about hypothetical account values and hypothetical expenses based on the Funds’ actual expense ratios and an assumed rate of return of 5% per year before expenses (which is not the Funds’ actual return). The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Please note that the expenses shown in the tables are meant to highlight your ongoing costs only, and do not reflect any transactional costs. Therefore the second line in the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
Beginning Account Value September 1, 2018 | Ending Account Value February 28, 2019 | Annualized Expense Ratio | Expenses Paid During the Period Per $1,000(1) | |||||||||||||
Xtrackers FTSE Developed ex US Comprehensive Factor ETF |
| |||||||||||||||
Actual | $ | 1,000.00 | $ | 963.40 | 0.35 | % | $ | 1.70 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,023.06 | 0.35 | % | $ | 1.76 | ||||||||
Xtrackers FTSE Emerging Comprehensive Factor ETF |
| |||||||||||||||
Actual | $ | 1,000.00 | $ | 999.70 | 0.50 | % | $ | 2.48 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,022.32 | 0.50 | % | $ | 2.51 | ||||||||
Xtrackers Russell 1000 Comprehensive Factor ETF |
| |||||||||||||||
Actual | $ | 1,000.00 | $ | 961.80 | 0.17 | % | $ | 0.83 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,023.95 | 0.17 | % | $ | 0.85 | ||||||||
Xtrackers Russell 1000 QARP ETF |
| |||||||||||||||
Actual | $ | 1,000.00 | $ | 970.50 | 0.19 | % | $ | 0.93 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,023.85 | 0.19 | % | $ | 0.95 | ||||||||
Xtrackers Russell 2000 Comprehensive Factor ETF |
| |||||||||||||||
Actual | $ | 1,000.00 | $ | 909.00 | 0.30 | % | $ | 1.42 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,023.31 | 0.30 | % | $ | 1.51 |
(1) Expenses are equal to each Fund’s annualized expense ratio, multiplied by the average account value over the period, multiplied by 181 (the number of days in the most recentsix-month period), then divided by 365.
7
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Comprehensive Factor ETF
February 28, 2019 (Unaudited)
Number | Value | |||||||
COMMON STOCKS — 99.5% | ||||||||
Australia — 11.7% | ||||||||
Adelaide Brighton Ltd. | 23,795 | $ | 80,582 | |||||
AGL Energy Ltd. | 21,245 | 320,584 | ||||||
ALS Ltd. | 1,479 | 8,292 | ||||||
Alumina Ltd. | 41,152 | 74,658 | ||||||
Amcor Ltd. | 10,739 | 114,986 | ||||||
APA Group (a) | 14,230 | 101,341 | ||||||
Aristocrat Leisure Ltd. | 6,735 | 117,970 | ||||||
ASX Ltd. | 1,965 | 97,538 | ||||||
Atlas Arteria Ltd. (a) | 20,503 | 103,858 | ||||||
Aurizon Holdings Ltd. | 31,033 | 99,794 | ||||||
AusNet Services | 49,043 | 60,537 | ||||||
Australia & New Zealand Banking Group Ltd. | 596 | 11,873 | ||||||
Bank of Queensland Ltd. | 689 | 4,417 | ||||||
Bendigo & Adelaide Bank Ltd. | 1,197 | 8,397 | ||||||
BHP Group Ltd. | 1,784 | 47,253 | ||||||
BHP Group PLC | 2,610 | 60,613 | ||||||
BlueScope Steel Ltd. | 9,336 | 89,403 | ||||||
Boral Ltd. | 22,099 | 78,297 | ||||||
Brambles Ltd. | 32,841 | 274,769 | ||||||
Caltex Australia Ltd. | 19,394 | 394,619 | ||||||
Challenger Ltd. | 2,567 | 14,702 | ||||||
CIMIC Group Ltd. | 1,651 | 58,906 | ||||||
Coca-Cola Amatil Ltd. | 30,033 | 170,295 | ||||||
Cochlear Ltd. | 1,184 | 143,622 | ||||||
Coles Group Ltd.* | 6,877 | 55,434 | ||||||
Commonwealth Bank of Australia | 112 | 5,893 | ||||||
Computershare Ltd. | 14,052 | 172,453 | ||||||
Crown Resorts Ltd. | 10,199 | 83,155 | ||||||
CSL Ltd. | 308 | 42,458 | ||||||
CSR Ltd. | 32,673 | 78,104 | ||||||
Dexus REIT | 95,705 | 818,434 | ||||||
Domino’s Pizza Enterprises Ltd. (b) | 341 | 10,007 | ||||||
Downer EDI Ltd. | 31,538 | 166,937 | ||||||
DuluxGroup Ltd. | 23,636 | 122,419 | ||||||
Flight Centre Travel Group Ltd. | 1,416 | 46,109 | ||||||
Goodman Group REIT | 49,892 | 454,345 | ||||||
GPT Group REIT | 132,883 | 553,057 | ||||||
Harvey Norman Holdings Ltd. (b) | 20,214 | 51,772 | ||||||
Healthscope Ltd. | 33,119 | 58,671 | ||||||
Iluka Resources Ltd. | 1,365 | 8,905 | ||||||
Incitec Pivot Ltd. | 16,913 | 40,550 | ||||||
Insurance Australia Group Ltd. | 30,461 | 159,285 | ||||||
IOOF Holdings Ltd. (b) | 1,851 | 8,665 | ||||||
Lendlease Group (a) | 21,544 | 197,418 | ||||||
Macquarie Group Ltd. | 456 | 41,734 | ||||||
Magellan Financial Group Ltd. | 3,023 | 74,974 | ||||||
Medibank Pvt Ltd. | 130,755 | 264,193 | ||||||
Metcash Ltd. | 15,056 | 27,957 | ||||||
Mirvac Group REIT | 268,526 | 490,980 | ||||||
National Australia Bank Ltd. | 633 | 11,317 | ||||||
Newcrest Mining Ltd. | 428 | 7,405 | ||||||
Oil Search Ltd. | 12,893 | 76,776 | ||||||
Orica Ltd. | 1,549 | 19,451 | ||||||
Origin Energy Ltd.* | 5,963 | 31,224 | ||||||
Orora Ltd. | 60,620 | 135,854 |
Number | Value | |||||||
Australia (Continued) | ||||||||
OZ Minerals Ltd. | 1,854 | $ | 13,586 | |||||
Perpetual Ltd. | 1,170 | 34,203 | ||||||
Platinum Asset Management Ltd. | 2,125 | 8,345 | ||||||
Qantas Airways Ltd. | 12,119 | 49,404 | ||||||
Ramsay Health Care Ltd. | 987 | 45,489 | ||||||
REA Group Ltd. | 1,027 | 59,578 | ||||||
Scentre Group REIT | 252,845 | 696,161 | ||||||
SEEK Ltd. | 4,707 | 61,685 | ||||||
Seven Group Holdings Ltd. | 747 | 10,284 | ||||||
Shopping Centres Australasia Property Group REIT | 63,872 | 109,515 | ||||||
Sonic Healthcare Ltd. | 10,208 | 175,171 | ||||||
South32 Ltd. | 7,220 | 20,084 | ||||||
Star Entertainment Group Ltd. | 4,952 | 15,607 | ||||||
Stockland REIT | 82,812 | 206,208 | ||||||
Suncorp Group Ltd. | 2,156 | 20,784 | ||||||
Sydney Airport (a) | 7,236 | 37,066 | ||||||
Telstra Corp. Ltd. | 19,922 | 44,363 | ||||||
TPG Telecom Ltd. | 2,567 | 12,163 | ||||||
Transurban Group (a) | 5,246 | 46,541 | ||||||
Treasury Wine Estates Ltd. | 2,325 | 24,779 | ||||||
Vicinity Centres REIT | 161,201 | 282,129 | ||||||
Wesfarmers Ltd. | 6,877 | 162,338 | ||||||
Westpac Banking Corp. | 665 | 12,755 | ||||||
Woodside Petroleum Ltd. | 8,883 | 229,093 | ||||||
Woolworths Group Ltd. | 17,640 | 359,808 | ||||||
|
| |||||||
9,590,381 | ||||||||
|
| |||||||
Austria — 0.2% | ||||||||
ANDRITZ AG | 1,046 | 52,288 | ||||||
OMV AG | 999 | 52,635 | ||||||
Telekom Austria AG* | 2,263 | 16,827 | ||||||
Verbund AG | 340 | 16,385 | ||||||
Vienna Insurance Group AG Wiener Versicherung Gruppe | 173 | 4,176 | ||||||
voestalpine AG | 1,140 | 35,335 | ||||||
|
| |||||||
177,646 | ||||||||
|
| |||||||
Belgium — 0.7% | ||||||||
Ackermans & van Haaren NV | 172 | 27,126 | ||||||
Ageas | 295 | 14,555 | ||||||
Colruyt SA | 1,790 | 127,800 | ||||||
Groupe Bruxelles Lambert SA | 286 | 27,545 | ||||||
KBC Group NV | 61 | 4,523 | ||||||
Proximus SADP | 1,020 | 26,981 | ||||||
Sofina SA | 775 | 151,789 | ||||||
Solvay SA | 480 | 53,794 | ||||||
UCB SA | 1,077 | 90,360 | ||||||
Umicore SA | 537 | 23,236 | ||||||
|
| |||||||
547,709 | ||||||||
|
| |||||||
Bermuda (c) — 0.0% | ||||||||
Hiscox Ltd. | 462 | 9,826 | ||||||
|
| |||||||
Canada — 6.3% | ||||||||
Alimentation Couche-Tard, Inc., Class B | 1,077 | 60,654 | ||||||
Bank of Montreal | 102 | 7,948 | ||||||
Bank of Nova Scotia | 575 | 31,933 | ||||||
BCE, Inc. | 1,002 | 44,523 |
See Notes to Financial Statements. | 8 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Canada (Continued) | ||||||||
Brookfield Asset Management, Inc., Class A | 840 | $ | 37,912 | |||||
Canadian Imperial Bank of Commerce | 638 | 54,077 | ||||||
Canadian National Railway Co. | 1,956 | 167,708 | ||||||
Canadian Natural Resources Ltd. | 1,010 | 28,666 | ||||||
Canadian Pacific Railway Ltd. | 1,067 | 220,303 | ||||||
Canadian Tire Corp. Ltd., Class A | 2,251 | 248,174 | ||||||
Canadian Utilities Ltd., Class A | 1,741 | 46,255 | ||||||
Cenovus Energy, Inc. | 3,565 | 32,645 | ||||||
CGI, Inc.* | 3,618 | 242,381 | ||||||
CI Financial Corp. | 6,982 | 98,607 | ||||||
Constellation Software, Inc. | 153 | 130,547 | ||||||
Dollarama, Inc. | 3,376 | 91,308 | ||||||
Fairfax Financial Holdings Ltd. | 824 | 407,639 | ||||||
Fortis, Inc. | 2,520 | 90,793 | ||||||
Franco-Nevada Corp. | 275 | 20,701 | ||||||
George Weston Ltd. | 1,605 | 114,312 | ||||||
Goldcorp, Inc. | 93 | 981 | ||||||
Great-West Lifeco, Inc. | 520 | 11,948 | ||||||
Husky Energy, Inc. | 6,206 | 68,940 | ||||||
Hydro One Ltd., 144A | 3,112 | 48,795 | ||||||
IGM Financial, Inc. | 1,468 | 38,322 | ||||||
Imperial Oil Ltd. | 1,829 | 49,482 | ||||||
Intact Financial Corp. | 1,917 | 160,114 | ||||||
Inter Pipeline Ltd. | 7,509 | 120,646 | ||||||
Loblaw Cos. Ltd. | 2,423 | 120,580 | ||||||
Magna International, Inc. | 10,204 | 538,015 | ||||||
Manulife Financial Corp. (b) | 2,510 | 42,386 | ||||||
Metro, Inc. | 9,165 | 344,192 | ||||||
National Bank of Canada | 1,710 | 80,618 | ||||||
Nutrien Ltd. | 779 | 42,369 | ||||||
Pembina Pipeline Corp. | 784 | 28,669 | ||||||
Power Corp. of Canada | 3,037 | 64,775 | ||||||
Power Financial Corp. | 890 | 19,848 | ||||||
Restaurant Brands International, Inc. | 958 | 60,535 | ||||||
RioCan Real Estate Investment Trust REIT | 13,009 | 248,327 | ||||||
Rogers Communications, Inc., Class B | 3,619 | 199,801 | ||||||
Royal Bank of Canada | 304 | 23,741 | ||||||
Saputo, Inc. | 4,246 | 138,277 | ||||||
Shaw Communications, Inc., Class B | 8,826 | 181,881 | ||||||
Sun Life Financial, Inc. (b) | 1,620 | 61,282 | ||||||
Suncor Energy, Inc. | 3,085 | 106,253 | ||||||
TELUS Corp. | 2,437 | 88,450 | ||||||
Thomson Reuters Corp. | 659 | 35,807 | ||||||
Toronto-Dominion Bank | 284 | 16,272 | ||||||
Tourmaline Oil Corp. | 1,917 | 29,068 | ||||||
TransCanada Corp. | 1,171 | 52,326 | ||||||
Wheaton Precious Metals Corp. | 607 | 13,191 | ||||||
|
| |||||||
5,212,977 | ||||||||
|
| |||||||
Chile — 0.0% | ||||||||
Antofagasta PLC | 1,503 | 18,728 | ||||||
|
| |||||||
China (c) — 0.1% | ||||||||
Tingyi Cayman Islands Holding Corp. | 9,445 | 13,115 | ||||||
Uni-President China Holdings Ltd. | 12,400 | 11,042 | ||||||
Want Want China Holdings Ltd. | 69,076 | 55,702 | ||||||
|
| |||||||
79,859 | ||||||||
|
|
Number | Value | |||||||
Denmark — 1.5% | ||||||||
Ambu A/S, Class B | 169 | $ | 3,967 | |||||
Carlsberg A/S, Class B | 905 | 109,750 | ||||||
Chr Hansen Holding A/S | 665 | 67,816 | ||||||
Coloplast A/S, Class B | 1,051 | 104,871 | ||||||
DSV A/S | 3,452 | 287,443 | ||||||
GN Store Nord A/S | 2,854 | 137,684 | ||||||
H Lundbeck A/S | 186 | 8,516 | ||||||
ISS A/S | 3,324 | 103,845 | ||||||
Jyske Bank A/S | 222 | 8,704 | ||||||
Novo Nordisk A/S, Class B | 642 | 31,535 | ||||||
Novozymes A/S, Class B | 1,902 | 86,445 | ||||||
Orsted A/S, 144A | 1,721 | 125,024 | ||||||
Pandora A/S | 68 | 3,572 | ||||||
Rockwool International A/S, Class B | 220 | 53,755 | ||||||
Tryg A/S | 2,724 | 74,333 | ||||||
Vestas Wind Systems A/S | 220 | 18,333 | ||||||
William Demant Holding A/S* | 1,359 | 40,859 | ||||||
|
| |||||||
1,266,452 | ||||||||
|
| |||||||
Finland — 1.6% | ||||||||
Elisa OYJ | 4,035 | 169,497 | ||||||
Fortum OYJ (b) | 3,402 | 75,618 | ||||||
Huhtamaki OYJ (b) | 1,362 | 49,365 | ||||||
Kesko OYJ, Class B | 3,394 | 202,822 | ||||||
Kone OYJ, Class B | 1,885 | 92,233 | ||||||
Metso OYJ | 588 | 19,959 | ||||||
Neste OYJ | 1,371 | 131,918 | ||||||
Nokia OYJ | 1,139 | 6,895 | ||||||
Nokian Renkaat OYJ | 1,612 | 57,087 | ||||||
Nordea Bank Abp | 715 | 6,488 | ||||||
Orion OYJ, Class B | 512 | 18,312 | ||||||
Sampo OYJ, Class A | 2,311 | 111,367 | ||||||
Stora Enso OYJ, Class R | 5,869 | 78,760 | ||||||
UPM-Kymmene OYJ | 7,447 | 224,887 | ||||||
Wartsila OYJ Abp | 2,091 | 34,001 | ||||||
|
| |||||||
1,279,209 | ||||||||
|
| |||||||
France — 5.1% | ||||||||
Accor SA | 576 | 24,347 | ||||||
Aeroports de Paris | 104 | 20,203 | ||||||
Air Liquide SA | 699 | 87,276 | ||||||
Airbus SE | 120 | 15,523 | ||||||
Alstom SA | 1,895 | 82,473 | ||||||
Amundi SA, 144A | 185 | 12,378 | ||||||
Arkema SA | 1,612 | 162,706 | ||||||
Atos SE | 334 | 32,107 | ||||||
AXA SA | 291 | 7,388 | ||||||
BioMerieux | 340 | 28,069 | ||||||
Bouygues SA | 1,895 | 71,748 | ||||||
Bureau Veritas SA | 2,124 | 50,839 | ||||||
Capgemini SE | 992 | 118,833 | ||||||
Carrefour SA | 2,266 | 46,445 | ||||||
Cie de Saint-Gobain | 842 | 30,355 | ||||||
Cie Generale des Etablissements Michelin | 1,676 | 201,343 | ||||||
Cie Plastic Omnium SA | 1,077 | 30,267 | ||||||
CNP Assurances | 305 | 7,057 | ||||||
Covivio REIT | 1,068 | 108,236 | ||||||
Danone SA | 461 | 34,819 |
See Notes to Financial Statements. | 9 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
France (Continued) | ||||||||
Dassault Aviation SA | 42 | $ | 70,782 | |||||
Dassault Systemes SE | 227 | 33,254 | ||||||
Edenred | 2,700 | 119,967 | ||||||
Eiffage SA | 1,529 | 149,349 | ||||||
Electricite de France SA | 781 | 11,357 | ||||||
Engie SA | 6,398 | 96,532 | ||||||
EssilorLuxottica SA | 808 | 97,941 | ||||||
Eurazeo SE | 424 | 31,914 | ||||||
Eutelsat Communications SA | 777 | 15,360 | ||||||
Faurecia SA | 635 | 30,326 | ||||||
Gecina SA REIT | 2,731 | 405,517 | ||||||
Getlink SE | 1,789 | 26,442 | ||||||
Hermes International | 37 | 23,459 | ||||||
ICADE REIT | 94 | 8,012 | ||||||
Imerys SA | 285 | 16,220 | ||||||
Ipsen SA | 273 | 37,801 | ||||||
JCDecaux SA | 247 | 7,622 | ||||||
Kering | 54 | 29,521 | ||||||
Klepierre SA REIT | 3,179 | 111,096 | ||||||
Lagardere SCA | 1,478 | 38,288 | ||||||
Legrand SA | 1,108 | 73,177 | ||||||
L’Oreal SA | 50 | 12,634 | ||||||
LVMH Moet Hennessy Louis Vuitton SE | 10 | 3,439 | ||||||
Orange SA | 4,636 | 70,950 | ||||||
Orpea | 56 | 6,609 | ||||||
Pernod Ricard SA | 232 | 39,997 | ||||||
Peugeot SA | 827 | 21,057 | ||||||
Publicis Groupe SA | 1,356 | 75,243 | ||||||
Remy Cointreau SA | 182 | 23,729 | ||||||
Renault SA | 152 | 10,425 | ||||||
Rexel SA | 6,261 | 78,138 | ||||||
Rubis SCA | 1,589 | 94,179 | ||||||
Safran SA | 810 | 110,589 | ||||||
Sanofi | 365 | 30,549 | ||||||
Sartorius Stedim Biotech | 126 | 14,850 | ||||||
Schneider Electric SE | 780 | 60,770 | ||||||
SCOR SE | 726 | 32,729 | ||||||
SEB SA | 276 | 47,582 | ||||||
Societe BIC SA | 393 | 37,210 | ||||||
Sodexo SA | 474 | 52,129 | ||||||
Suez | 1,611 | 20,610 | ||||||
Teleperformance | 1,117 | 199,693 | ||||||
Thales SA | 713 | 87,887 | ||||||
TOTAL SA (b) | 544 | 30,966 | ||||||
Ubisoft Entertainment SA* | 128 | 9,255 | ||||||
Unibail-Rodamco-Westfield REIT | 414 | 66,942 | ||||||
Valeo SA | 404 | 12,766 | ||||||
Veolia Environnement SA | 6,913 | 151,926 | ||||||
Vinci SA | 600 | 57,336 | ||||||
Vivendi SA | 1,239 | 36,259 | ||||||
Wendel SA | 92 | 11,618 | ||||||
Worldline SA, 144A* | 690 | 38,751 | ||||||
|
| |||||||
4,153,166 | ||||||||
|
| |||||||
Germany — 4.6% | ||||||||
adidas AG | 185 | 44,997 | ||||||
Allianz SE | 58 | 12,918 |
Number | Value | |||||||
Germany (Continued) | ||||||||
Axel Springer SE | 593 | $ | 33,864 | |||||
BASF SE | 528 | 40,277 | ||||||
Bayer AG | 69 | 5,522 | ||||||
Bayerische Motoren Werke AG | 121 | 10,239 | ||||||
Beiersdorf AG | 450 | 41,793 | ||||||
Brenntag AG | 3,862 | 191,738 | ||||||
Carl Zeiss Meditec AG | 276 | 23,571 | ||||||
CECONOMY AG* | 770 | 4,340 | ||||||
Continental AG | 338 | 55,423 | ||||||
Covestro AG, 144A | 3,757 | 214,504 | ||||||
Daimler AG | 182 | 10,913 | ||||||
Deutsche Boerse AG | 62 | 7,844 | ||||||
Deutsche Lufthansa AG | 2,974 | 76,027 | ||||||
Deutsche Post AG | 1,583 | 49,246 | ||||||
Deutsche Telekom AG | 1,913 | 31,553 | ||||||
Deutsche Wohnen SE | 7,064 | 329,795 | ||||||
DWS Group GmbH & Co. KGaA, 144A*(d) | 634 | 18,839 | ||||||
E.ON SE | 3,643 | 40,176 | ||||||
Evonik Industries AG | 874 | 24,632 | ||||||
Fielmann AG | 127 | 8,583 | ||||||
Fraport AG Frankfurt Airport Services Worldwide | 228 | 18,335 | ||||||
Fresenius Medical Care AG & Co. KGaA | 715 | 56,080 | ||||||
Fresenius SE & Co. KGaA | 236 | 13,284 | ||||||
FUCHS PETROLUB SE | 630 | 25,718 | ||||||
GEA Group AG | 1,178 | 28,263 | ||||||
GRENKE AG | 68 | 6,946 | ||||||
Hannover Rueck SE | 241 | 35,950 | ||||||
HeidelbergCement AG | 895 | 65,877 | ||||||
Hella GmbH & Co. KGaA | 534 | 24,201 | ||||||
Henkel AG & Co. KGaA | 97 | 9,124 | ||||||
HOCHTIEF AG | 516 | 81,907 | ||||||
HUGO BOSS AG | 951 | 70,410 | ||||||
Infineon Technologies AG | 1,826 | 40,140 | ||||||
Innogy SE* | 703 | 29,867 | ||||||
K+S AG | 360 | 6,868 | ||||||
KION Group AG | 123 | 7,020 | ||||||
LANXESS AG | 1,606 | 87,140 | ||||||
LEG Immobilien AG | 4,117 | 460,177 | ||||||
Merck KGaA | 521 | 53,856 | ||||||
MTU Aero Engines AG | 771 | 165,491 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 93 | 21,932 | ||||||
ProSiebenSat.1 Media SE | 3,399 | 62,082 | ||||||
Puma SE | 130 | 73,349 | ||||||
Rational AG | 43 | 28,203 | ||||||
Rheinmetall AG | 1,296 | 138,780 | ||||||
RWE AG | 941 | 22,995 | ||||||
SAP SE | 122 | 13,086 | ||||||
Scout24 AG, 144A | 450 | 23,725 | ||||||
Siemens AG | 60 | 6,568 | ||||||
Siemens Healthineers AG, 144A | 113 | 4,583 | ||||||
Symrise AG | 872 | 76,934 | ||||||
Telefonica Deutschland Holding AG | 1,307 | 4,295 | ||||||
TUI AG | 17,834 | 189,816 | ||||||
Uniper SE | 9,821 | 286,401 | ||||||
Vonovia SE | 4,912 | 238,498 |
See Notes to Financial Statements. | 10 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Germany (Continued) | ||||||||
Wacker Chemie AG | 403 | $ | 41,328 | |||||
Wirecard AG | 161 | 22,091 | ||||||
Zalando SE, 144A* | 166 | 6,124 | ||||||
|
| |||||||
3,824,238 | ||||||||
|
| |||||||
Hong Kong — 4.6% | ||||||||
AIA Group Ltd. | 3,280 | 32,801 | ||||||
ASM Pacific Technology Ltd. | 582 | 6,165 | ||||||
Cafe de Coral Holdings Ltd. | 5,252 | 13,917 | ||||||
Cathay Pacific Airways Ltd. | 4,882 | 8,209 | ||||||
Champion REIT | 162,726 | 130,184 | ||||||
China Mengniu Dairy Co. Ltd.* | 5,354 | 16,540 | ||||||
CK Asset Holdings Ltd. | 8,549 | 70,953 | ||||||
CK Hutchison Holdings Ltd. | 3,332 | 35,464 | ||||||
CK Infrastructure Holdings Ltd. | 1,912 | 15,942 | ||||||
CLP Holdings Ltd. | 14,881 | 176,302 | ||||||
Dairy Farm International Holdings Ltd. | 4,465 | 39,917 | ||||||
Great Eagle Holdings Ltd. | 3,502 | 17,354 | ||||||
Hang Lung Group Ltd. | 6,678 | 20,970 | ||||||
Hang Lung Properties Ltd. | 15,559 | 36,748 | ||||||
Hang Seng Bank Ltd. | 225 | 5,575 | ||||||
Henderson Land Development Co. Ltd. | 6,741 | 38,128 | ||||||
Hong Kong & China Gas Co. Ltd. | 25,964 | 60,132 | ||||||
Hong Kong Exchanges & Clearing Ltd. | 241 | 8,308 | ||||||
Hongkong Land Holdings Ltd. | 29,800 | 213,666 | ||||||
Hopewell Holdings Ltd. | 22,770 | 104,716 | ||||||
Hysan Development Co. Ltd. | 16,065 | 84,829 | ||||||
Jardine Matheson Holdings Ltd. | 300 | 20,568 | ||||||
Jardine Strategic Holdings Ltd. | 100 | 3,950 | ||||||
Johnson Electric Holdings Ltd. | 2,510 | 6,126 | ||||||
Kerry Logistics Network Ltd. | 15,713 | 26,102 | ||||||
Kerry Properties Ltd. | 48,808 | 203,942 | ||||||
Li & Fung Ltd. | 18,206 | 3,177 | ||||||
Lifestyle International Holdings Ltd. | 27,596 | 48,514 | ||||||
Link REIT | 97,363 | 1,100,788 | ||||||
MTR Corp. Ltd. | 1,728 | 9,928 | ||||||
New World Development Co. Ltd. | 10,181 | 16,264 | ||||||
NWS Holdings Ltd. | 68,583 | 166,001 | ||||||
PCCW Ltd. | 129,568 | 77,908 | ||||||
Power Assets Holdings Ltd. | 13,023 | 90,417 | ||||||
Sa Sa International Holdings Ltd. (b) | 20,140 | 7,158 | ||||||
Shun Tak Holdings Ltd. | 17,591 | 6,969 | ||||||
Sino Land Co. Ltd. | 62,381 | 116,183 | ||||||
Sun Art Retail Group Ltd. | 12,782 | 12,994 | ||||||
Sun Hung Kai Properties Ltd. | 3,629 | 60,100 | ||||||
Swire Pacific Ltd., Class A | 14,969 | 178,012 | ||||||
Swire Pacific Ltd., Class B | 20,711 | 37,835 | ||||||
Swire Properties Ltd. | 33,739 | 135,389 | ||||||
Techtronic Industries Co. Ltd. | 15,414 | 102,992 | ||||||
Television Broadcasts Ltd. | 1,495 | 2,864 | ||||||
Towngas China Co. Ltd.* | 25,362 | 20,226 | ||||||
VTech Holdings Ltd. | 2,305 | 24,152 | ||||||
WH Group Ltd., 144A | 7,180 | 6,375 | ||||||
Wharf Holdings Ltd. | 15,090 | 47,194 | ||||||
Wharf Real Estate Investment Co. Ltd. | 9,420 | 66,182 | ||||||
Wheelock & Co. Ltd. | 6,266 | 42,426 | ||||||
Xinyi Glass Holdings Ltd. | 19,391 | 22,232 |
Number | Value | |||||||
Hong Kong (Continued) | ||||||||
Yue Yuen Industrial Holdings Ltd. | 3,092 | $ | 10,399 | |||||
|
| |||||||
3,810,187 | ||||||||
|
| |||||||
Ireland — 0.8% | ||||||||
CRH PLC | 2,374 | 75,215 | ||||||
DCC PLC | 1,852 | 160,733 | ||||||
Glanbia PLC | 546 | 11,086 | ||||||
James Hardie Industries PLC CDI | 8,423 | 105,709 | ||||||
Kerry Group PLC, Class A | 651 | 67,087 | ||||||
Kingspan Group PLC | 1,548 | 73,082 | ||||||
Paddy Power Betfair PLC | 577 | 46,278 | ||||||
Smurfit Kappa Group PLC | 3,338 | 95,102 | ||||||
|
| |||||||
634,292 | ||||||||
|
| |||||||
Isle of Man — 0.0% | ||||||||
GVC Holdings PLC | 3,339 | 29,156 | ||||||
|
| |||||||
Israel — 1.5% | ||||||||
Airport City Ltd.* | 2,617 | 37,538 | ||||||
Alony Hetz Properties & Investments Ltd. | 2,363 | 25,996 | ||||||
Amot Investments Ltd. | 3,081 | 17,858 | ||||||
Azrieli Group Ltd. | 421 | 23,576 | ||||||
Bank Hapoalim BM | 9,344 | 64,345 | ||||||
Bank LeumiLe-Israel BM | 19,555 | 129,372 | ||||||
Bezeq The Israeli Telecommunication Corp. Ltd. | 40,858 | 35,838 | ||||||
Delek Group Ltd. | 39 | 6,889 | ||||||
Elbit Systems Ltd. | 224 | 29,503 | ||||||
First International Bank of Israel Ltd. | 1,188 | 28,494 | ||||||
Gazit-Globe Ltd. | 812 | 6,345 | ||||||
Harel Insurance Investments & Financial Services Ltd. | 3,687 | 25,919 | ||||||
Israel Chemicals Ltd. | 20,024 | 112,192 | ||||||
Israel Corp. Ltd. | 165 | 46,406 | ||||||
Israel Discount Bank Ltd., Class A | 34,055 | 120,405 | ||||||
Melisron Ltd. | 391 | 18,832 | ||||||
Migdal Insurance & Financial Holding Ltd. | 4,638 | 4,596 | ||||||
Mizrahi Tefahot Bank Ltd. | 1,163 | 22,283 | ||||||
Nice Ltd.* | 1,566 | 184,126 | ||||||
Oil Refineries Ltd.* | 146,591 | 77,844 | ||||||
Paz Oil Co. Ltd. | 588 | 89,908 | ||||||
Phoenix Holdings Ltd. | 3,821 | 22,178 | ||||||
Shufersal Ltd. | 6,017 | 43,012 | ||||||
Strauss Group Ltd. | 1,890 | 47,840 | ||||||
Teva Pharmaceutical Industries Ltd.* | 333 | 5,671 | ||||||
|
| |||||||
1,226,966 | ||||||||
|
| |||||||
Italy — 0.9% | ||||||||
A2A SpA | 74,069 | 131,405 | ||||||
Assicurazioni Generali SpA | 763 | 13,636 | ||||||
Atlantia SpA | 527 | 12,830 | ||||||
Buzzi Unicem SpA | 416 | 8,148 | ||||||
Buzzi UnicemSpA-RSP | 770 | 9,645 | ||||||
Davide Campari-Milano SpA | 2,909 | 27,775 | ||||||
DiaSorin SpA | 164 | 16,107 | ||||||
Enel SpA | 11,181 | 67,733 | ||||||
Eni SpA | 5,205 | 89,888 | ||||||
Ferrari NV | 64 | 8,246 |
See Notes to Financial Statements. | 11 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Italy (Continued) | ||||||||
Italgas SpA | 11,043 | $ | 66,973 | |||||
Mediobanca SpA | 582 | 5,846 | ||||||
Moncler SpA | 1,125 | 43,197 | ||||||
Pirelli & C SpA, 144A* | 929 | 6,241 | ||||||
Poste Italiane SpA, 144A | 1,906 | 17,211 | ||||||
PRADA SpA | 2,006 | 6,427 | ||||||
Prysmian SpA | 573 | 11,712 | ||||||
Recordati SpA | 235 | 8,849 | ||||||
Snam SpA | 13,627 | 67,422 | ||||||
Telecom Italia SpA* | 15,590 | 9,512 | ||||||
Telecom ItaliaSpA-RSP | 22,921 | 12,505 | ||||||
Terna Rete Elettrica Nazionale SpA | 19,600 | 122,038 | ||||||
|
| |||||||
763,346 | ||||||||
|
| |||||||
Japan — 24.8% | ||||||||
ABC-Mart, Inc. | 300 | 17,194 | ||||||
Advantest Corp. | 600 | 14,170 | ||||||
Aeon Co. Ltd. (b) | 11,400 | 240,248 | ||||||
Aeon Mall Co. Ltd. | 600 | 9,788 | ||||||
AGC, Inc. | 3,600 | 124,829 | ||||||
Aica Kogyo Co. Ltd. | 1,500 | 52,214 | ||||||
Ain Holdings, Inc. | 100 | 6,872 | ||||||
Air Water, Inc. | 4,300 | 68,602 | ||||||
Aisin Seiki Co. Ltd. | 1,300 | 50,741 | ||||||
Ajinomoto Co., Inc. | 3,300 | 49,921 | ||||||
Alfresa Holdings Corp. | 6,700 | 194,103 | ||||||
Alps Alpine Co. Ltd. | 400 | 7,858 | ||||||
Amada Holdings Co. Ltd. | 4,800 | 50,492 | ||||||
ANA Holdings, Inc. | 1,600 | 59,389 | ||||||
Aoyama Trading Co. Ltd. | 500 | 12,262 | ||||||
Aozora Bank Ltd. | 300 | 8,651 | ||||||
Ariake Japan Co. Ltd. | 100 | 5,273 | ||||||
Asahi Group Holdings Ltd. | 100 | 4,318 | ||||||
Asahi Intecc Co. Ltd. | 300 | 14,418 | ||||||
Asahi Kasei Corp. | 15,709 | 171,314 | ||||||
Asics Corp. | 800 | 10,650 | ||||||
Astellas Pharma, Inc. | 10,000 | 154,375 | ||||||
Autobacs Seven Co. Ltd. | 3,900 | 65,654 | ||||||
Azbil Corp. | 4,000 | 88,322 | ||||||
Bandai Namco Holdings, Inc. | 2,800 | 119,224 | ||||||
Benesse Holdings, Inc. | 600 | 16,304 | ||||||
Bic Camera, Inc. | 1,200 | 13,626 | ||||||
Bridgestone Corp. | 2,700 | 106,550 | ||||||
Brother Industries Ltd. | 500 | 9,140 | ||||||
Calbee, Inc. | 200 | 5,543 | ||||||
Canon Marketing Japan, Inc. | 500 | 9,405 | ||||||
Canon, Inc. | 5,200 | 149,526 | ||||||
Capcom Co. Ltd. | 2,554 | 51,231 | ||||||
Casio Computer Co. Ltd. | 700 | 9,501 | ||||||
Central Japan Railway Co. | 610 | 136,855 | ||||||
Chubu Electric Power Co., Inc. | 28,500 | 448,673 | ||||||
Chugai Pharmaceutical Co. Ltd. | 200 | 13,600 | ||||||
Chugoku Electric Power Co., Inc. (b) | 24,000 | 311,966 | ||||||
Citizen Watch Co. Ltd. | 4,900 | 27,863 | ||||||
Coca-Cola Bottlers Japan Holdings, Inc. | 175 | 4,509 | ||||||
COMSYS Holdings Corp. | 6,100 | 162,966 | ||||||
Cosmo Energy Holdings Co. Ltd. | 1,290 | 27,163 |
Number | Value | |||||||
Japan (Continued) | ||||||||
Cosmos Pharmaceutical Corp. | 29 | $ | 5,314 | |||||
Dai Nippon Printing Co. Ltd. | 3,700 | 85,686 | ||||||
Daicel Corp. | 5,700 | 60,011 | ||||||
Daido Steel Co. Ltd. | 100 | 4,222 | ||||||
Daifuku Co. Ltd. | 39 | 1,913 | ||||||
Dai-ichi Life Holdings, Inc. | 500 | 7,571 | ||||||
Daiichi Sankyo Co. Ltd. | 429 | 16,059 | ||||||
Daiichikosho Co. Ltd. | 455 | 22,480 | ||||||
Daikin Industries Ltd. | 400 | 43,442 | ||||||
Daito Trust Construction Co. Ltd. | 743 | 103,020 | ||||||
Daiwa House Industry Co. Ltd. | 2,900 | 89,746 | ||||||
Denka Co. Ltd. | 3,000 | 90,415 | ||||||
Denso Corp. | 788 | 33,850 | ||||||
Dentsu, Inc. | 1,234 | 51,546 | ||||||
DIC Corp. | 600 | 19,080 | ||||||
Disco Corp. | 11 | 1,516 | ||||||
East Japan Railway Co. | 900 | 86,184 | ||||||
Ebara Corp. | 600 | 17,032 | ||||||
Eisai Co. Ltd. | 200 | 16,520 | ||||||
Electric Power Development Co. Ltd. | 6,600 | 165,059 | ||||||
Exedy Corp. | 700 | 16,695 | ||||||
Ezaki Glico Co. Ltd. | 100 | 5,067 | ||||||
FamilyMart UNY Holdings Co. Ltd. (b) | 5,244 | 149,566 | ||||||
Fancl Corp. | 400 | 9,073 | ||||||
FANUC Corp. | 100 | 16,565 | ||||||
Fast Retailing Co. Ltd. | 11 | 5,154 | ||||||
FP Corp. | 100 | 6,109 | ||||||
Fuji Electric Co. Ltd. | 1,354 | 42,571 | ||||||
Fuji Media Holdings, Inc. | 800 | 11,714 | ||||||
Fuji Oil Holdings, Inc. | 800 | 26,806 | ||||||
FUJIFILM Holdings Corp. | 3,800 | 170,372 | ||||||
Fujitsu Ltd. | 177 | 11,939 | ||||||
Fukuyama Transporting Co. Ltd. | 1,000 | 41,502 | ||||||
Glory Ltd. | 200 | 4,890 | ||||||
GS Yuasa Corp. | 400 | 8,017 | ||||||
H2O Retailing Corp. | 700 | 9,571 | ||||||
Hakuhodo DY Holdings, Inc. | 9,300 | 142,608 | ||||||
Hamamatsu Photonics KK | 1,100 | 38,735 | ||||||
Hankyu Hanshin Holdings, Inc. | 3,300 | 119,763 | ||||||
Haseko Corp. | 4,500 | 56,230 | ||||||
Heiwa Corp. | 200 | 3,963 | ||||||
Hino Motors Ltd. | 4,000 | 36,759 | ||||||
Hirose Electric Co. Ltd. | 105 | 10,800 | ||||||
HIS Co. Ltd. | 200 | 7,654 | ||||||
Hisamitsu Pharmaceutical Co., Inc. | 900 | 44,466 | ||||||
Hitachi Construction Machinery Co. Ltd. | 1,600 | 39,943 | ||||||
Hitachi High-Technologies Corp. | 600 | 22,826 | ||||||
Hitachi Ltd. | 4,000 | 119,835 | ||||||
Hitachi Metals Ltd. | 500 | 5,093 | ||||||
Hitachi Transport System Ltd. | 1,200 | 35,789 | ||||||
Hokkaido Electric Power Co., Inc. | 3,600 | 22,961 | ||||||
Hokuriku Electric Power Co.* | 12,400 | 105,376 | ||||||
Honda Motor Co. Ltd. | 2,500 | 70,809 | ||||||
Horiba Ltd. | 600 | 30,399 | ||||||
Hoshizaki Corp. | 300 | 20,320 | ||||||
House Foods Group, Inc. | 700 | 28,045 | ||||||
Hoya Corp. | 1,000 | 61,130 |
See Notes to Financial Statements. | 12 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Japan (Continued) | ||||||||
Hulic Co. Ltd. | 800 | $ | 7,352 | |||||
Ibiden Co. Ltd. | 400 | 5,677 | ||||||
Idemitsu Kosan Co. Ltd. | 3,300 | 117,095 | ||||||
IHI Corp. | 400 | 10,550 | ||||||
Iida Group Holdings Co. Ltd. | 400 | 7,309 | ||||||
Inpex Corp. | 3,700 | 35,996 | ||||||
Isetan Mitsukoshi Holdings Ltd. | 6,200 | 61,599 | ||||||
Isuzu Motors Ltd. | 10,400 | 149,059 | ||||||
Ito En Ltd. | 600 | 27,165 | ||||||
ITOCHU Corp. | 8,800 | 157,945 | ||||||
Itochu Techno-Solutions Corp. | 300 | 7,061 | ||||||
Izumi Co. Ltd. | 1,080 | 49,091 | ||||||
J. Front Retailing Co. Ltd. | 1,100 | 12,184 | ||||||
Japan Airlines Co. Ltd. | 4,400 | 160,672 | ||||||
Japan Airport Terminal Co. Ltd. | 100 | 3,971 | ||||||
Japan Petroleum Exploration Co. Ltd. | 200 | 4,166 | ||||||
Japan Steel Works Ltd. | 400 | 7,212 | ||||||
Japan Tobacco, Inc. | 200 | 5,090 | ||||||
JFE Holdings, Inc. | 4,500 | 78,483 | ||||||
JGC Corp. | 900 | 13,089 | ||||||
JSR Corp. | 4,100 | 67,990 | ||||||
JTEKT Corp. | 500 | 6,198 | ||||||
JXTG Holdings, Inc. | 78,250 | 366,015 | ||||||
Kagome Co. Ltd. | 400 | 10,270 | ||||||
Kajima Corp. | 4,000 | 59,217 | ||||||
Kakaku.com, Inc. | 486 | 9,347 | ||||||
Kaken Pharmaceutical Co. Ltd. | 200 | 9,666 | ||||||
Kamigumi Co. Ltd. | 3,800 | 88,105 | ||||||
Kandenko Co. Ltd. | 3,600 | 32,210 | ||||||
Kaneka Corp. | 3,122 | 122,137 | ||||||
Kansai Electric Power Co., Inc. | 9,400 | 140,637 | ||||||
Kansai Mirai Financial Group, Inc.* | 5,100 | 37,751 | ||||||
Kansai Paint Co. Ltd. | 288 | 5,296 | ||||||
Kao Corp. | 1,000 | 75,674 | ||||||
Kawasaki Heavy Industries Ltd. | 500 | 12,846 | ||||||
Kawasaki Kisen Kaisha Ltd.* | 200 | 2,824 | ||||||
KDDI Corp. | 3,800 | 91,774 | ||||||
Keihan Holdings Co. Ltd. | 3,000 | 124,236 | ||||||
Keikyu Corp. | 400 | 6,633 | ||||||
Keio Corp. | 1,300 | 76,374 | ||||||
Keisei Electric Railway Co. Ltd. | 1,200 | 40,963 | ||||||
Kewpie Corp. | 400 | 9,134 | ||||||
Kikkoman Corp. | 1,800 | 89,580 | ||||||
Kinden Corp. | 6,100 | 98,963 | ||||||
Kintetsu Group Holdings Co. Ltd. | 1,600 | 72,296 | ||||||
Kirin Holdings Co. Ltd. | 4,000 | 89,436 | ||||||
Kissei Pharmaceutical Co. Ltd. | 300 | 8,247 | ||||||
Kobayashi Pharmaceutical Co. Ltd. | 300 | 24,201 | ||||||
Koei Tecmo Holdings Co. Ltd. | 240 | 4,301 | ||||||
Koito Manufacturing Co. Ltd. | 600 | 34,711 | ||||||
Kokuyo Co. Ltd. | 3,300 | 48,617 | ||||||
Komatsu Ltd. | 1,191 | 29,219 | ||||||
Komeri Co. Ltd. | 300 | 7,567 | ||||||
Konami Holdings Corp. | 300 | 12,383 | ||||||
Konica Minolta, Inc. | 3,400 | 32,986 | ||||||
Kose Corp. | 69 | 11,169 | ||||||
K’s Holdings Corp. | 6,600 | 60,711 |
Number | Value | |||||||
Japan (Continued) | ||||||||
Kubota Corp. | 1,000 | $ | 13,497 | |||||
Kuraray Co. Ltd. | 3,900 | 52,341 | ||||||
Kurita Water Industries Ltd. | 2,300 | 57,934 | ||||||
Kyocera Corp. | 800 | 44,132 | ||||||
KYORIN Holdings, Inc. | 400 | 7,920 | ||||||
Kyoritsu Maintenance Co. Ltd. | 200 | 9,504 | ||||||
Kyowa Exeo Corp. | 6,900 | 186,260 | ||||||
Kyowa Hakko Kirin Co. Ltd. | 800 | 15,279 | ||||||
Kyudenko Corp. | 100 | 3,423 | ||||||
Kyushu Electric Power Co., Inc. | 11,900 | 141,534 | ||||||
Kyushu Railway Co. | 10,026 | 343,146 | ||||||
Lawson, Inc. (b) | 800 | 48,509 | ||||||
Lintec Corp. | 3,500 | 79,325 | ||||||
Lion Corp. | 706 | 14,479 | ||||||
LIXIL Group Corp. | 200 | 2,711 | ||||||
M3, Inc. | 400 | 6,633 | ||||||
Mabuchi Motor Co. Ltd. | 200 | 6,881 | ||||||
Maeda Corp. | 5,300 | 56,085 | ||||||
Maeda Road Construction Co. Ltd. | 1,200 | 23,511 | ||||||
Makita Corp. | 1,400 | 49,614 | ||||||
Marubeni Corp. | 41,800 | 298,405 | ||||||
Maruha Nichiro Corp. | 700 | 23,361 | ||||||
Marui Group Co. Ltd. | 200 | 3,520 | ||||||
Maruichi Steel Tube Ltd. | 1,150 | 34,607 | ||||||
Matsumotokiyoshi Holdings Co. Ltd. | 700 | 24,021 | ||||||
Mazda Motor Corp. | 600 | 7,047 | ||||||
Medipal Holdings Corp. | 5,300 | 123,597 | ||||||
Megmilk Snow Brand Co. Ltd. | 200 | 4,883 | ||||||
MEIJI Holdings Co. Ltd. | 700 | 55,462 | ||||||
MINEBEA MITSUMI, Inc. | 651 | 10,445 | ||||||
MISUMI Group, Inc. | 500 | 12,132 | ||||||
Mitsubishi Chemical Holdings Corp. | 9,400 | 69,402 | ||||||
Mitsubishi Corp. | 5,200 | 146,630 | ||||||
Mitsubishi Electric Corp. | 4,700 | 58,856 | ||||||
Mitsubishi Estate Co. Ltd. | 700 | 12,029 | ||||||
Mitsubishi Gas Chemical Co., Inc. | 4,000 | 61,157 | ||||||
Mitsubishi Heavy Industries Ltd. | 3,421 | 139,243 | ||||||
Mitsubishi Logistics Corp. | 300 | 7,559 | ||||||
Mitsubishi Materials Corp. | 200 | 5,498 | ||||||
Mitsubishi Motors Corp. | 3,400 | 19,089 | ||||||
Mitsubishi Shokuhin Co. Ltd. | 100 | 2,601 | ||||||
Mitsubishi Tanabe Pharma Corp. | 300 | 4,328 | ||||||
Mitsubishi UFJ Lease & Finance Co. Ltd. | 900 | 4,584 | ||||||
Mitsui & Co. Ltd. | 11,700 | 183,929 | ||||||
Mitsui Chemicals, Inc. | 500 | 12,186 | ||||||
Mitsui Fudosan Co. Ltd. | 700 | 16,585 | ||||||
Mitsui OSK Lines Ltd. | 400 | 9,378 | ||||||
Miura Co. Ltd. | 953 | 21,830 | ||||||
Mizuho Financial Group, Inc. | 4,700 | 7,397 | ||||||
Mochida Pharmaceutical Co. Ltd. | 100 | 10,663 | ||||||
MS&AD Insurance Group Holdings, Inc. | 400 | 12,012 | ||||||
Murata Manufacturing Co. Ltd. | 139 | 21,633 | ||||||
Nabtesco Corp. | 200 | 5,280 | ||||||
Nagase & Co. Ltd. | 4,200 | 61,838 | ||||||
Nagoya Railroad Co. Ltd. | 4,600 | 126,653 | ||||||
Nankai Electric Railway Co. Ltd. | 1,200 | 32,210 | ||||||
NEC Corp. | 800 | 26,698 |
See Notes to Financial Statements. | 13 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Japan (Continued) | ||||||||
NGK Insulators Ltd. | 800 | $ | 12,210 | |||||
NGK Spark Plug Co. Ltd. | 1,200 | 25,505 | ||||||
NH Foods Ltd. | 200 | 7,303 | ||||||
NHK Spring Co. Ltd. | 6,100 | 56,824 | ||||||
Nichirei Corp. | 400 | 9,953 | ||||||
Nidec Corp. | 136 | 16,462 | ||||||
Nifco, Inc. | 300 | 7,627 | ||||||
Nihon Kohden Corp. | 800 | 24,039 | ||||||
Nihon M&A Center, Inc. | 206 | 5,200 | ||||||
Nihon Unisys Ltd. | 2,600 | 67,849 | ||||||
Nikon Corp. | 7,100 | 107,533 | ||||||
Nippo Corp. | 3,400 | 66,155 | ||||||
Nippon Electric Glass Co. Ltd. | 100 | 2,704 | ||||||
Nippon Express Co. Ltd. | 700 | 41,313 | ||||||
Nippon Gas Co. Ltd. | 200 | 6,971 | ||||||
Nippon Kayaku Co. Ltd. | 600 | 7,303 | ||||||
Nippon Paper Industries Co. Ltd. | 1,200 | 23,920 | ||||||
Nippon Shokubai Co. Ltd. | 600 | 40,909 | ||||||
Nippon Steel & Sumitomo Metal Corp. | 4,313 | 77,624 | ||||||
Nippon Telegraph & Telephone Corp. | 400 | 17,251 | ||||||
Nippon Television Holdings, Inc. | 700 | 10,998 | ||||||
Nippon Yusen KK | 3,300 | 52,026 | ||||||
Nipro Corp. | 400 | 5,271 | ||||||
Nishi-Nippon Railroad Co. Ltd. | 1,100 | 26,275 | ||||||
Nissan Chemical Corp. | 1,783 | 90,015 | ||||||
Nissan Motor Co. Ltd. | 3,500 | 30,259 | ||||||
Nisshin Seifun Group, Inc. | 6,000 | 128,710 | ||||||
Nisshinbo Holdings, Inc. | 500 | 4,271 | ||||||
Nissin Foods Holdings Co. Ltd. | 684 | 47,497 | ||||||
Nitori Holdings Co. Ltd. | 43 | 5,363 | ||||||
Nitto Denko Corp. | 400 | 21,351 | ||||||
Noevir Holdings Co. Ltd. | 100 | 4,815 | ||||||
NOF Corp. | 3,300 | 113,686 | ||||||
NOK Corp. | 200 | 3,223 | ||||||
Nomura Real Estate Holdings, Inc. | 800 | 15,156 | ||||||
Nomura Research Institute Ltd. | 710 | 28,892 | ||||||
NS Solutions Corp. | 200 | 5,286 | ||||||
NSK Ltd. | 500 | 4,595 | ||||||
NTT Data Corp. | 4,600 | 50,289 | ||||||
NTT DOCOMO, Inc. | 900 | 20,952 | ||||||
Obayashi Corp. | 5,300 | 51,657 | ||||||
Obic Co. Ltd. | 400 | 38,196 | ||||||
Odakyu Electric Railway Co. Ltd. | 3,600 | 84,114 | ||||||
Oji Holdings Corp. | 22,200 | 132,019 | ||||||
OKUMA Corp. | 200 | 11,031 | ||||||
Olympus Corp. | 489 | 21,634 | ||||||
Omron Corp. | 300 | 12,949 | ||||||
Ono Pharmaceutical Co. Ltd. | 200 | 4,112 | ||||||
Oracle Corp. | 200 | 14,930 | ||||||
Oriental Land Co. Ltd. | 300 | 32,959 | ||||||
ORIX Corp. | 4,300 | 62,267 | ||||||
Osaka Gas Co. Ltd. | 16,000 | 327,704 | ||||||
OSG Corp. | 1,000 | 19,727 | ||||||
Otsuka Corp. | 800 | 28,782 | ||||||
Otsuka Holdings Co. Ltd. | 300 | 12,510 | ||||||
PALTAC CORPORATION | 2,400 | 123,751 | ||||||
Pan Pacific International Holdings Corp. | 400 | 23,859 |
Number | Value | |||||||
Japan (Continued) | ||||||||
Panasonic Corp. | 800 | $ | 7,366 | |||||
Park24 Co. Ltd. | 500 | 12,010 | ||||||
Penta-Ocean Construction Co. Ltd. | 1,200 | 6,047 | ||||||
Persol Holdings Co. Ltd. | 143 | 2,451 | ||||||
Pigeon Corp. | 300 | 12,235 | ||||||
Pilot Corp. | 200 | 9,163 | ||||||
Pola Orbis Holdings, Inc. | 235 | 6,597 | ||||||
Recruit Holdings Co. Ltd. | 1,085 | 30,351 | ||||||
Relo Group, Inc. | 400 | 10,435 | ||||||
Rengo Co. Ltd. | 9,900 | 85,909 | ||||||
Resona Holdings, Inc. | 1,100 | 4,973 | ||||||
Ricoh Co. Ltd. | 600 | 6,091 | ||||||
Rinnai Corp. | 300 | 20,185 | ||||||
Rohm Co. Ltd. | 100 | 6,315 | ||||||
Rohto Pharmaceutical Co. Ltd. | 700 | 18,406 | ||||||
Ryohin Keikaku Co. Ltd. | 94 | 22,309 | ||||||
Sankyo Co. Ltd. | 600 | 22,098 | ||||||
Sankyu, Inc. | 1,400 | 68,541 | ||||||
Santen Pharmaceutical Co. Ltd. | 900 | 14,027 | ||||||
Sanwa Holdings Corp. | 5,000 | 57,986 | ||||||
SCREEN Holdings Co. Ltd. | 100 | 3,989 | ||||||
SCSK Corp. | 500 | 21,874 | ||||||
Secom Co. Ltd. | 1,800 | 155,552 | ||||||
Sega Sammy Holdings, Inc. | 1,000 | 11,642 | ||||||
Seibu Holdings, Inc. | 3,400 | 60,413 | ||||||
Seino Holdings Co. Ltd. | 7,100 | 100,199 | ||||||
Sekisui Chemical Co. Ltd. | 4,000 | 62,774 | ||||||
Sekisui House Ltd. | 5,900 | 88,696 | ||||||
Seven & i Holdings Co. Ltd. (b) | 4,200 | 184,646 | ||||||
SG Holdings Co. Ltd. | 2,400 | 70,284 | ||||||
Shikoku Electric Power Co., Inc. | 5,700 | 71,839 | ||||||
Shimachu Co. Ltd. | 2,818 | 75,766 | ||||||
Shimadzu Corp. | 4,400 | 108,498 | ||||||
Shimamura Co. Ltd. (b) | 100 | 8,453 | ||||||
Shimano, Inc. | 266 | 40,407 | ||||||
Shimizu Corp. | 4,200 | 36,899 | ||||||
Shin-Etsu Chemical Co. Ltd. | 800 | 66,626 | ||||||
Shionogi & Co. Ltd. | 800 | 51,139 | ||||||
Shiseido Co. Ltd. | 300 | 19,802 | ||||||
Showa Denko KK | 743 | 27,666 | ||||||
Showa Shell Sekiyu KK | 5,800 | 87,010 | ||||||
SKY Perfect JSAT Holdings, Inc. | 3,200 | 14,316 | ||||||
Skylark Holdings Co. Ltd. | 3,900 | 59,733 | ||||||
SMC Corp. | 84 | 29,240 | ||||||
Sohgo Security Services Co. Ltd. | 200 | 8,642 | ||||||
Sojitz Corp. | 46,200 | 169,743 | ||||||
Sompo Holdings, Inc. | 500 | 18,671 | ||||||
Sony Corp. | 1,100 | 52,777 | ||||||
Sony Financial Holdings, Inc. | 400 | 7,564 | ||||||
Sotetsu Holdings, Inc. | 3,700 | 111,180 | ||||||
Stanley Electric Co. Ltd. | 1,400 | 40,244 | ||||||
Subaru Corp. | 1,100 | 27,930 | ||||||
Sugi Holdings Co. Ltd. | 700 | 30,403 | ||||||
Sumitomo Bakelite Co. Ltd. | 1,000 | 37,684 | ||||||
Sumitomo Chemical Co. Ltd. | 12,000 | 59,504 | ||||||
Sumitomo Corp. | 17,300 | 248,730 | ||||||
Sumitomo Dainippon Pharma Co. Ltd. | 4,400 | 108,577 |
See Notes to Financial Statements. | 14 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Japan (Continued) | ||||||||
Sumitomo Electric Industries Ltd. | 9,600 | $ | 133,582 | |||||
Sumitomo Forestry Co. Ltd. | 600 | 7,821 | ||||||
Sumitomo Heavy Industries Ltd. | 609 | 20,843 | ||||||
Sumitomo Metal Mining Co. Ltd. | 893 | 26,184 | ||||||
Sumitomo Mitsui Financial Group, Inc. | 100 | 3,541 | ||||||
Sumitomo Mitsui Trust Holdings, Inc. | 100 | 3,790 | ||||||
Sumitomo Osaka Cement Co. Ltd. | 800 | 32,878 | ||||||
Sumitomo Realty & Development Co. Ltd. | 571 | 21,359 | ||||||
Sumitomo Rubber Industries Ltd. | 900 | 11,569 | ||||||
Sundrug Co. Ltd. | 700 | 21,443 | ||||||
Suzuken Co. Ltd. | 5,200 | 284,944 | ||||||
Suzuki Motor Corp. | 3,100 | 158,759 | ||||||
Sysmex Corp. | 300 | 18,053 | ||||||
T&D Holdings, Inc. | 700 | 8,404 | ||||||
Taiheiyo Cement Corp. | 500 | 17,090 | ||||||
Taisei Corp. | 4,534 | 214,237 | ||||||
Taisho Pharmaceutical Holdings Co. Ltd. | 300 | 30,372 | ||||||
Taiyo Nippon Sanso Corp. | 800 | 11,304 | ||||||
Taiyo Yuden Co. Ltd. | 200 | 3,938 | ||||||
Takara Holdings, Inc. | 1,700 | 19,242 | ||||||
Takashimaya Co. Ltd. (b) | 3,400 | 44,745 | ||||||
Takeda Pharmaceutical Co. Ltd. | 258 | 10,358 | ||||||
TDK Corp. | 200 | 15,631 | ||||||
TechnoPro Holdings, Inc. | 200 | 10,798 | ||||||
Teijin Ltd. | 5,400 | 90,566 | ||||||
Terumo Corp. | 858 | 52,565 | ||||||
THK Co. Ltd. | 557 | 13,690 | ||||||
TIS, Inc. | 900 | 41,879 | ||||||
Tobu Railway Co. Ltd. | 3,800 | 106,162 | ||||||
Toda Corp. | 1,000 | 6,351 | ||||||
Toho Co. Ltd. | 500 | 17,876 | ||||||
Toho Gas Co. Ltd. | 4,900 | 222,727 | ||||||
Tohoku Electric Power Co., Inc. | 11,900 | 156,073 | ||||||
Tokai Carbon Co. Ltd. | 200 | 2,774 | ||||||
Tokai Rika Co. Ltd. | 1,200 | 21,958 | ||||||
Tokai Tokyo Financial Holdings, Inc. | 1,100 | 4,753 | ||||||
Tokio Marine Holdings, Inc. | 700 | 34,120 | ||||||
Tokyo Broadcasting System Holdings, Inc. | 300 | 5,754 | ||||||
Tokyo Century Corp. | 200 | 8,920 | ||||||
Tokyo Electric Power Co. Holdings, Inc.* | 23,600 | 147,129 | ||||||
Tokyo Electron Ltd. | 186 | 25,314 | ||||||
Tokyo Gas Co. Ltd. | 11,000 | 302,866 | ||||||
Tokyo Tatemono Co. Ltd. | 300 | 3,485 | ||||||
Tokyu Corp. | 6,600 | 111,877 | ||||||
Tokyu Fudosan Holdings Corp. | 4,300 | 23,756 | ||||||
Toppan Forms Co. Ltd. | 900 | 7,794 | ||||||
Toppan Printing Co. Ltd. | 1,000 | 15,918 | ||||||
Toray Industries, Inc. | 4,600 | 32,045 | ||||||
Toshiba Plant Systems & Services Corp. | 1,100 | 19,941 | ||||||
Tosoh Corp. | 300 | 4,428 | ||||||
TOTO Ltd. | 880 | 33,320 | ||||||
Toyo Seikan Group Holdings Ltd. | 800 | 16,910 | ||||||
Toyo Suisan Kaisha Ltd. | 2,600 | 96,461 | ||||||
Toyobo Co. Ltd. | 500 | 7,092 | ||||||
Toyoda Gosei Co. Ltd. | 1,000 | 22,655 | ||||||
Toyota Boshoku Corp. | 300 | 4,940 |
Number | Value | |||||||
Japan (Continued) | ||||||||
Toyota Industries Corp. | 200 | $ | 10,259 | |||||
Toyota Motor Corp. | 100 | 6,016 | ||||||
Toyota Tsusho Corp. | 4,200 | 133,372 | ||||||
Trend Micro, Inc. | 600 | 29,590 | ||||||
TS Tech Co. Ltd. | 3,800 | 110,771 | ||||||
Tsumura & Co. | 100 | 3,158 | ||||||
Tsuruha Holdings, Inc. | 400 | 35,429 | ||||||
TV Asahi Holdings Corp. | 300 | 5,498 | ||||||
Ube Industries Ltd. | 3,200 | 72,555 | ||||||
Unicharm Corp. | 1,277 | 40,666 | ||||||
Ushio, Inc. | 1,200 | 13,475 | ||||||
USS Co. Ltd. | 900 | 16,396 | ||||||
Wacoal Holdings Corp. | 1,200 | 30,086 | ||||||
Welcia Holdings Co. Ltd. | 400 | 14,193 | ||||||
West Japan Railway Co. | 1,700 | 128,141 | ||||||
Yakult Honsha Co. Ltd. | 200 | 13,421 | ||||||
Yamada Denki Co. Ltd. | 11,700 | 56,545 | ||||||
Yamaha Corp. | 2,381 | 117,211 | ||||||
Yamaha Motor Co. Ltd. | 400 | 8,110 | ||||||
Yamato Holdings Co. Ltd. | 3,400 | 88,543 | ||||||
Yamato Kogyo Co. Ltd. | 400 | 11,067 | ||||||
Yamazaki Baking Co. Ltd. | 1,000 | 17,122 | ||||||
Yaoko Co. Ltd. | 300 | 15,927 | ||||||
Yaskawa Electric Corp. (b) | 621 | 17,656 | ||||||
Yokogawa Electric Corp. | 3,400 | 65,483 | ||||||
Yokohama Rubber Co. Ltd. | 500 | 10,200 | ||||||
Zenkoku Hosho Co. Ltd. | 400 | 14,714 | ||||||
Zensho Holdings Co. Ltd. | 3,700 | 85,952 | ||||||
Zeon Corp. | 900 | 9,184 | ||||||
|
| |||||||
20,437,117 | ||||||||
|
| |||||||
Luxembourg (c) — 0.6% | ||||||||
Aroundtown SA | 46,484 | 391,692 | ||||||
RTL Group SA | 588 | 33,196 | ||||||
SES SA | 2,551 | 51,314 | ||||||
Tenaris SA | 456 | 6,091 | ||||||
|
| |||||||
482,293 | ||||||||
|
| |||||||
Netherlands — 2.7% | ||||||||
Aalberts Industries NV | 1,801 | 66,631 | ||||||
Aegon NV | 2,640 | 14,213 | ||||||
Akzo Nobel NV | 415 | 37,677 | ||||||
ASML Holding NV | 120 | 22,016 | ||||||
ASR Nederland NV | 1,560 | 68,817 | ||||||
EXOR NV | 165 | 10,165 | ||||||
GrandVision NV, 144A | 342 | 7,610 | ||||||
Heineken Holding NV | 293 | 28,376 | ||||||
Heineken NV | 122 | 12,308 | ||||||
Koninklijke Ahold Delhaize NV | 31,565 | 815,009 | ||||||
Koninklijke DSM NV | 4,838 | 520,053 | ||||||
Koninklijke KPN NV | 15,656 | 48,348 | ||||||
Koninklijke Philips NV | 2,030 | 80,905 | ||||||
Koninklijke Vopak NV | 593 | 29,029 | ||||||
NN Group NV | 726 | 31,662 | ||||||
QIAGEN NV* | 708 | 27,104 | ||||||
Randstad NV | 2,432 | 130,020 | ||||||
Royal Dutch Shell PLC, Class A | 586 | 18,313 | ||||||
Royal Dutch Shell PLC, Class B | 655 | 20,600 |
See Notes to Financial Statements. | 15 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Netherlands (Continued) | ||||||||
Signify NV, 144A | 1,374 | $ | 36,533 | |||||
Wolters Kluwer NV | 2,436 | 160,829 | ||||||
|
| |||||||
2,186,218 | ||||||||
|
| |||||||
New Zealand — 1.2% | ||||||||
Air New Zealand Ltd. | 24,170 | 40,685 | ||||||
Auckland International Airport Ltd. | 10,677 | 56,537 | ||||||
Contact Energy Ltd. | 26,905 | 116,065 | ||||||
Fisher & Paykel Healthcare Corp. Ltd. | 11,619 | 116,400 | ||||||
Fletcher Building Ltd.* | 2,982 | 9,938 | ||||||
Kiwi Property Group Ltd. | 45,523 | 43,744 | ||||||
Mercury NZ Ltd. | 25,201 | 63,374 | ||||||
Meridian Energy Ltd. | 25,791 | 64,858 | ||||||
Ryman Healthcare Ltd. | 18,418 | 138,071 | ||||||
SKYCITY Entertainment Group Ltd. | 29,212 | 75,053 | ||||||
Spark New Zealand Ltd. | 97,859 | 248,757 | ||||||
Xero Ltd.* | 818 | 27,643 | ||||||
|
| |||||||
1,001,125 | ||||||||
|
| |||||||
Norway — 0.8% | ||||||||
Aker ASA, Class A | 154 | 11,658 | ||||||
DNB ASA | 470 | 9,019 | ||||||
Equinor ASA | 1,195 | 26,895 | ||||||
Gjensidige Forsikring ASA | 1,109 | 19,906 | ||||||
Mowi ASA (b) | 7,417 | 171,314 | ||||||
Norsk Hydro ASA | 6,567 | 27,232 | ||||||
Orkla ASA | 31,347 | 247,287 | ||||||
Telenor ASA | 4,583 | 89,473 | ||||||
Yara International ASA | 966 | 40,702 | ||||||
|
| |||||||
643,486 | ||||||||
|
| |||||||
Poland — 0.4% | ||||||||
Bank Polska Kasa Opieki SA | 96 | 2,879 | ||||||
CD Projekt SA* | 185 | 9,307 | ||||||
Dino Polska SA, 144A* | 773 | 21,890 | ||||||
Grupa Lotos SA | 5,807 | 146,278 | ||||||
LPP SA | 3 | 6,475 | ||||||
PGE Polska Grupa Energetyczna SA* | 2,576 | 7,908 | ||||||
Polski Koncern Naftowy ORLEN SA | 2,701 | 72,842 | ||||||
Polskie Gornictwo Naftowe i Gazownictwo SA | 10,800 | 19,779 | ||||||
Powszechna Kasa Oszczednosci Bank Polski SA | 1,801 | 18,132 | ||||||
Powszechny Zaklad Ubezpieczen SA | 1,166 | 12,590 | ||||||
|
| |||||||
318,080 | ||||||||
|
| |||||||
Portugal — 0.3% | ||||||||
EDP — Energias de Portugal SA | 40,281 | 147,924 | ||||||
Galp Energia SGPS SA | 7,347 | 120,722 | ||||||
Jeronimo Martins SGPS SA | 804 | 12,131 | ||||||
|
| |||||||
280,777 | ||||||||
|
| |||||||
Singapore — 2.7% | ||||||||
Ascendas Real Estate Investment Trust REIT | 46,900 | 97,188 | ||||||
BOC Aviation Ltd., 144A | 11,933 | 103,219 | ||||||
CapitaLand Commercial Trust REIT | 117,395 | 168,551 | ||||||
CapitaLand Ltd. | 18,800 | 47,584 |
Number | Value | |||||||
Singapore (Continued) | ||||||||
CapitaLand Mall Trust REIT | 108,100 | $ | 192,007 | |||||
City Developments Ltd. | 3,500 | 23,105 | ||||||
ComfortDelGro Corp. Ltd. | 153,500 | 271,511 | ||||||
DBS Group Holdings Ltd. | 700 | 12,869 | ||||||
Frasers Property Ltd. | 4,700 | 5,983 | ||||||
Genting Singapore Ltd. | 40,100 | 30,271 | ||||||
Golden Agri-Resources Ltd. | 40,400 | 8,222 | ||||||
Jardine Cycle & Carriage Ltd. | 593 | 14,632 | ||||||
Keppel Corp. Ltd. | 17,100 | 77,957 | ||||||
M1 Ltd. | 20,900 | 31,864 | ||||||
Oversea-Chinese Banking Corp. Ltd. | 3,945 | 32,291 | ||||||
SATS Ltd. | 28,200 | 107,065 | ||||||
Sembcorp Industries Ltd. | 15,500 | 30,055 | ||||||
SIA Engineering Co. Ltd. | 6,200 | 11,104 | ||||||
Singapore Airlines Ltd. | 17,500 | 129,644 | ||||||
Singapore Exchange Ltd. | 24,100 | 139,834 | ||||||
Singapore Post Ltd. | 33,000 | 24,667 | ||||||
Singapore Press Holdings Ltd. | 45,600 | 83,020 | ||||||
Singapore Technologies Engineering Ltd. | 34,700 | 96,046 | ||||||
Singapore Telecommunications Ltd. | 21,200 | 47,383 | ||||||
StarHub Ltd. | 5,100 | 6,039 | ||||||
Suntec Real Estate Investment Trust REIT | 15,800 | 22,568 | ||||||
United Overseas Bank Ltd. | 2,500 | 46,292 | ||||||
UOL Group Ltd. | 16,816 | 82,512 | ||||||
Venture Corp. Ltd. | 16,900 | 222,632 | ||||||
Wilmar International Ltd. | 20,800 | 49,260 | ||||||
Wing Tai Holdings Ltd. | 17,700 | 26,461 | ||||||
|
| |||||||
2,241,836 | ||||||||
|
| |||||||
South Africa (c) — 0.0% | ||||||||
Investec PLC | 1,792 | 11,746 | ||||||
|
| |||||||
South Korea — 2.6% | ||||||||
Amorepacific Corp. | 43 | 7,646 | ||||||
Cheil Worldwide, Inc. | 1,379 | 30,714 | ||||||
CJ CheilJedang Corp. | 167 | 47,812 | ||||||
CJ Corp. | 54 | 6,002 | ||||||
CJ ENM Co. Ltd. | 41 | 8,687 | ||||||
CJ Logistics Corp.* | 49 | 8,278 | ||||||
Coway Co. Ltd. | 525 | 44,158 | ||||||
Daelim Industrial Co. Ltd. | 457 | 38,032 | ||||||
DB Insurance Co. Ltd. | 346 | 22,304 | ||||||
DGB Financial Group, Inc. | 761 | 5,738 | ||||||
Dongsuh Cos., Inc. | 383 | 6,726 | ||||||
E-MART, Inc. | 247 | 39,531 | ||||||
GS Holdings Corp. | 589 | 28,070 | ||||||
GS Retail Co. Ltd. | 208 | 7,157 | ||||||
Hana Financial Group, Inc. | 297 | 10,259 | ||||||
Hankook Tire Co. Ltd. | 429 | 16,306 | ||||||
Hanon Systems | 515 | 5,701 | ||||||
HDC Hyundai DevelopmentCo-Engineering & Construction, Class E | 894 | 38,273 | ||||||
Hyosung TNC Co. Ltd. | 95 | 14,190 | ||||||
Hyundai Department Store Co. Ltd. | 574 | 49,403 | ||||||
Hyundai Engineering & Construction Co. Ltd. | 397 | 20,191 | ||||||
Hyundai Glovis Co. Ltd. | 301 | 37,334 | ||||||
Hyundai Marine & Fire Insurance Co. Ltd. | 304 | 10,190 |
See Notes to Financial Statements. | 16 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
South Korea (Continued) | ||||||||
Hyundai Mobis Co. Ltd. | 424 | $ | 83,126 | |||||
Hyundai Motor Co. | 236 | 26,544 | ||||||
Hyundai Steel Co. | 652 | 28,899 | ||||||
Industrial Bank of Korea | 1,297 | 16,087 | ||||||
Kangwon Land, Inc. | 588 | 16,155 | ||||||
KB Financial Group, Inc. | 578 | 22,792 | ||||||
KCC Corp. | 11 | 3,125 | ||||||
Kia Motors Corp. | 4,248 | 138,050 | ||||||
Korea Electric Power Corp. | 783 | 24,262 | ||||||
Korea Gas Corp. | 1,244 | 55,414 | ||||||
Korea Zinc Co. Ltd. | 58 | 23,541 | ||||||
KT&G Corp. | 1,823 | 171,002 | ||||||
Kumho Petrochemical Co. Ltd. | 282 | 23,995 | ||||||
LG Chem Ltd. | 52 | 18,055 | ||||||
LG Corp. | 1,249 | 83,289 | ||||||
LG Display Co. Ltd. | 359 | 6,783 | ||||||
LG Electronics, Inc. | 459 | 28,772 | ||||||
LG Household & Health Care Ltd. | 4 | 4,431 | ||||||
LG Uplus Corp. | 12,143 | 161,950 | ||||||
Lotte Chemical Corp. | 40 | 11,345 | ||||||
Lotte Chilsung Beverage Co. Ltd. | 6 | 8,498 | ||||||
LOTTE Fine Chemical Co. Ltd. | 213 | 9,185 | ||||||
Lotte Shopping Co. Ltd. | 94 | 15,963 | ||||||
LS Corp. | 108 | 5,810 | ||||||
NAVER Corp. | 70 | 8,278 | ||||||
NongShim Co. Ltd. | 29 | 6,936 | ||||||
Ottogi Corp. | 9 | 6,114 | ||||||
POSCO | 308 | 72,023 | ||||||
Posco Daewoo Corp. | 325 | 5,476 | ||||||
S-1 Corp. | 333 | 30,200 | ||||||
Samsung C&T Corp. | 69 | 7,086 | ||||||
Samsung Electro-Mechanics Co. Ltd. | 113 | 10,750 | ||||||
Samsung Electronics Co. Ltd. | 213 | 8,541 | ||||||
Samsung Fire & Marine Insurance Co. Ltd. | 220 | 58,976 | ||||||
Shinhan Financial Group Co. Ltd. | 466 | 18,086 | ||||||
Shinsegae Inc. | 40 | 10,154 | ||||||
SK Holdings Co. Ltd. | 57 | 13,810 | ||||||
SK Hynix, Inc. | 763 | 47,488 | ||||||
SK Innovation Co. Ltd. | 935 | 156,291 | ||||||
SK Telecom Co. Ltd. | 370 | 85,698 | ||||||
SKC Co. Ltd. | 129 | 4,439 | ||||||
S-Oil Corp. | 786 | 69,885 | ||||||
Yuhan Corp. | 97 | 22,467 | ||||||
|
| |||||||
2,132,473 | ||||||||
|
| |||||||
Spain — 2.2% | ||||||||
Acciona SA | 365 | 35,511 | ||||||
Acerinox SA | 3,631 | 38,485 | ||||||
ACS Actividades de Construccion y Servicios SA (b) | 5,300 | 235,249 | ||||||
Aena SME SA, 144A | 181 | 32,338 | ||||||
Amadeus IT Group SA | 1,310 | 98,750 | ||||||
Bankinter SA | 1,853 | 15,239 | ||||||
Cellnex Telecom SA, 144A* | 655 | 16,953 | ||||||
Corp. Financiera Alba SA | 1,123 | 56,074 | ||||||
EDP Renovaveis SA | 1,609 | 15,152 |
Number | Value | |||||||
Spain (Continued) | ||||||||
Enagas SA | 6,794 | $ | 193,795 | |||||
Endesa SA | 3,341 | 84,267 | ||||||
Ferrovial SA | 2,721 | 62,774 | ||||||
Fomento de Construcciones y Contratas | 468 | 6,928 | ||||||
Grifols SA | 658 | 17,128 | ||||||
Grupo Catalana Occidente SA | 546 | 19,460 | ||||||
Iberdrola SA | 9,058 | 75,831 | ||||||
Mapfre SA | 1,658 | 4,690 | ||||||
Mediaset Espana Comunicacion SA | 1,253 | 9,414 | ||||||
Merlin Properties Socimi SA REIT | 23,551 | 305,988 | ||||||
Naturgy Energy Group SA | 3,085 | 83,853 | ||||||
Red Electrica Corp. SA | 6,764 | 146,341 | ||||||
Repsol SA | 8,487 | 146,170 | ||||||
Telefonica SA | 6,565 | 56,732 | ||||||
Zardoya Otis SA | 1,733 | 14,504 | ||||||
|
| |||||||
1,771,626 | ||||||||
|
| |||||||
Sweden — 4.9% | ||||||||
Alfa Laval AB | 3,859 | 84,448 | ||||||
Assa Abloy AB, Class B | 4,534 | 93,841 | ||||||
Atlas Copco AB, Class A | 2,667 | 72,304 | ||||||
Atlas Copco AB, Class B | 1,864 | 46,809 | ||||||
Boliden AB | 5,780 | 158,265 | ||||||
Electrolux AB, Series B | 1,311 | 34,328 | ||||||
Elekta AB, Class B | 2,640 | 30,416 | ||||||
Epiroc AB, Class A* | 4,679 | 47,004 | ||||||
Epiroc AB, Class B* | 2,985 | 28,063 | ||||||
Essity AB, Class B | 301 | 8,403 | ||||||
Fastighets AB Balder, Class B* | 7,090 | 208,767 | ||||||
Hennes & Mauritz AB, Class B (b) | 716 | 10,842 | ||||||
Hexagon AB, Class B | 1,138 | 59,892 | ||||||
Husqvarna AB, Class B | 5,205 | 42,686 | ||||||
ICA Gruppen AB (b) | 1,072 | 41,228 | ||||||
Industrivarden AB, Class A | 7,409 | 157,399 | ||||||
Industrivarden AB, Class C | 6,573 | 136,969 | ||||||
Investment AB Latour, Class B | 1,497 | 19,704 | ||||||
Investor AB, Class A | 1,435 | 63,334 | ||||||
Investor AB, Class B | 4,580 | 204,670 | ||||||
Kinnevik AB, Class B | 16,190 | 410,420 | ||||||
L E Lundbergforetagen AB, Class B | 1,494 | 46,095 | ||||||
Lundin Petroleum AB | 2,302 | 75,314 | ||||||
Nibe Industrier AB, Class B | 6,313 | 79,026 | ||||||
Saab AB, Class B | 1,605 | 55,067 | ||||||
Sandvik AB | 12,914 | 212,302 | ||||||
Securitas AB, Class B | 14,295 | 224,320 | ||||||
Skandinaviska Enskilda Banken AB, Class A | 1,412 | 14,382 | ||||||
Skanska AB, Class B | 8,616 | 155,506 | ||||||
SKF AB, Class B | 8,741 | 147,203 | ||||||
Svenska Cellulosa AB SCA, Class B | 32,287 | 297,871 | ||||||
Svenska Handelsbanken AB, Class A | 902 | 10,295 | ||||||
Swedbank AB, Class A | 868 | 15,958 | ||||||
Swedish Match AB | 6,250 | 293,179 | ||||||
Swedish Orphan Biovitrum AB* | 751 | 16,329 | ||||||
Tele2 AB, Class B | 7,773 | 102,439 | ||||||
Telefonaktiebolaget LM Ericsson, Class B | 934 | 8,554 |
See Notes to Financial Statements. | 17 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Sweden (Continued) | ||||||||
Telia Co. AB | 43,439 | $ | 188,661 | |||||
Trelleborg AB, Class B | 3,285 | 54,004 | ||||||
Volvo AB, Class B | 6,322 | 93,145 | ||||||
|
| |||||||
4,049,442 | ||||||||
|
| |||||||
Switzerland — 2.8% | ||||||||
ABB Ltd. | 2,380 | 47,220 | ||||||
Adecco Group AG | 1,477 | 76,889 | ||||||
Baloise Holding AG | 186 | 30,434 | ||||||
Banque Cantonale Vaudoise | 8 | 6,505 | ||||||
Barry Callebaut AG | 37 | 63,846 | ||||||
Chocoladefabriken Lindt & Spruengli AG Participation Certificates | 8 | 52,118 | ||||||
Cie Financiere Richemont SA | 296 | 22,713 | ||||||
Clariant AG* | 1,353 | 29,133 | ||||||
Coca-Cola HBC AG* | 1,794 | 60,514 | ||||||
DKSH Holding AG | 474 | 27,859 | ||||||
Dufry AG* | 50 | 5,079 | ||||||
EMS-Chemie Holding AG | 43 | 24,884 | ||||||
Ferguson PLC | 3,502 | 243,195 | ||||||
Flughafen Zurich AG | 299 | 53,365 | ||||||
Geberit AG | 214 | 85,583 | ||||||
Georg Fischer AG | 104 | 92,391 | ||||||
Givaudan SA | 58 | 145,378 | ||||||
Helvetia Holding AG | 43 | 25,855 | ||||||
Kuehne + Nagel International AG | 393 | 51,383 | ||||||
LafargeHolcim Ltd.* | 101 | 5,008 | ||||||
Logitech International SA | 1,653 | 62,274 | ||||||
Nestle SA | 11 | 998 | ||||||
Novartis AG | 119 | 10,875 | ||||||
OC Oerlikon Corp. AG* | 3,684 | 49,332 | ||||||
Pargesa Holding SA | 242 | 19,920 | ||||||
Partners Group Holding AG | 154 | 111,612 | ||||||
PSP Swiss Property AG | 534 | 54,461 | ||||||
Roche Holding AG | 41 | 11,413 | ||||||
Schindler Holding AG | 122 | 27,114 | ||||||
Schindler Holding AG Participation Certificates | 245 | 55,483 | ||||||
SGS SA | 53 | 135,399 | ||||||
Sika AG | 722 | 97,842 | ||||||
Sonova Holding AG | 475 | 88,997 | ||||||
STMicroelectronics NV | 896 | 14,661 | ||||||
Straumann Holding AG | 53 | 41,444 | ||||||
Sulzer AG | 159 | 15,753 | ||||||
Swatch Group AG — Bearer | 163 | 48,350 | ||||||
Swatch Group AG — Registered | 242 | 13,871 | ||||||
Swiss Life Holding AG* | 65 | 28,383 | ||||||
Swiss Prime Site AG* | 461 | 38,987 | ||||||
Swiss Re AG | 110 | 10,912 | ||||||
Swisscom AG | 229 | 106,225 | ||||||
Temenos AG* | 396 | 57,520 | ||||||
Zurich Insurance Group AG | 104 | 34,451 | ||||||
|
| |||||||
2,285,629 | ||||||||
|
| |||||||
United Kingdom — 13.5% | ||||||||
3i Group PLC | 34,369 | 432,365 | ||||||
Admiral Group PLC | 8,379 | 243,182 | ||||||
Ashmore Group PLC | 7,908 | 44,388 |
Number | Value | |||||||
United Kingdom (Continued) | ||||||||
Ashtead Group PLC | 2,961 | $ | 78,887 | |||||
Associated British Foods PLC | 633 | 18,885 | ||||||
AstraZeneca PLC | 224 | 18,291 | ||||||
Auto Trader Group PLC, 144A | 9,395 | 59,445 | ||||||
Aviva PLC | 3,699 | 20,822 | ||||||
B&M European Value Retail SA | 10,864 | 51,082 | ||||||
Babcock International Group PLC | 5,277 | 37,972 | ||||||
BAE Systems PLC | 23,249 | 144,104 | ||||||
Barclays PLC | 2,068 | 4,515 | ||||||
Barratt Developments PLC | 14,253 | 113,558 | ||||||
Bellway PLC | 2,252 | 90,610 | ||||||
Berkeley Group Holdings PLC | 4,225 | 221,977 | ||||||
BP PLC | 8,671 | 61,634 | ||||||
British Land Co. PLC REIT | 11,396 | 91,584 | ||||||
BT Group PLC | 18,471 | 52,748 | ||||||
Bunzl PLC | 4,900 | 154,660 | ||||||
Burberry Group PLC | 7,058 | 177,383 | ||||||
Centrica PLC | 74,614 | 123,559 | ||||||
Cineworld Group PLC | 5,057 | 18,766 | ||||||
CNH Industrial NV | 3,829 | 41,525 | ||||||
Cobham PLC* | 8,234 | 12,885 | ||||||
Compass Group PLC | 8,240 | 182,484 | ||||||
Croda International PLC | 2,600 | 166,377 | ||||||
Derwent London PLC REIT | 3,286 | 142,747 | ||||||
Diageo PLC | 832 | 32,242 | ||||||
Direct Line Insurance Group PLC | 38,226 | 181,362 | ||||||
Dixons Carphone PLC | 11,543 | 20,382 | ||||||
DS Smith PLC | 4,160 | 18,564 | ||||||
easyJet PLC | 3,292 | 53,748 | ||||||
Experian PLC | 7,655 | 199,922 | ||||||
Fiat Chrysler Automobiles NV* | 360 | 5,322 | ||||||
G4S PLC | 28,702 | 80,133 | ||||||
GlaxoSmithKline PLC | 1,774 | 35,333 | ||||||
Halma PLC | 9,575 | 197,913 | ||||||
Hammerson PLC REIT | 7,713 | 39,159 | ||||||
Hargreaves Lansdown PLC | 1,954 | 45,275 | ||||||
Howden Joinery Group PLC | 20,921 | 137,104 | ||||||
IMI PLC | 6,942 | 87,349 | ||||||
Imperial Brands PLC | 1,235 | 41,239 | ||||||
Inchcape PLC | 11,892 | 89,369 | ||||||
Informa PLC | 8,670 | 81,323 | ||||||
Inmarsat PLC | 2,917 | 15,512 | ||||||
InterContinental Hotels Group PLC | 3,501 | 209,993 | ||||||
International Consolidated Airlines Group SA | 9,044 | 72,056 | ||||||
Intertek Group PLC | 2,626 | 177,646 | ||||||
ITV PLC | 47,979 | 83,664 | ||||||
J Sainsbury PLC | 46,594 | 141,922 | ||||||
JD Sports Fashion PLC | 6,012 | 37,240 | ||||||
Johnson Matthey PLC | 10,103 | 415,637 | ||||||
Kingfisher PLC | 55,076 | 177,354 | ||||||
Legal & General Group PLC | 8,745 | 32,639 | ||||||
Lloyds Banking Group PLC | 6,997 | 5,913 | ||||||
London Stock Exchange Group PLC | 69 | 4,136 | ||||||
Marks & Spencer Group PLC | 23,236 | 84,374 | ||||||
Meggitt PLC | 15,884 | 113,919 | ||||||
Melrose Industries PLC | 5,188 | 12,000 |
See Notes to Financial Statements. | 18 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
United Kingdom (Continued) | ||||||||
Merlin Entertainments PLC, 144A | 3,030 | $ | 14,573 | |||||
Mondi PLC | 7,211 | 165,787 | ||||||
National Grid PLC | 13,201 | 148,880 | ||||||
Next PLC | 2,363 | 159,917 | ||||||
Pearson PLC | 15,014 | 168,947 | ||||||
Pennon Group PLC | 8,560 | 88,580 | ||||||
Persimmon PLC | 6,682 | 216,239 | ||||||
Phoenix Group Holdings PLC | 1,672 | 15,545 | ||||||
Prudential PLC | 569 | 12,034 | ||||||
Quilter PLC, 144A | 6,159 | 10,648 | ||||||
RELX PLC | 2,121 | 48,778 | ||||||
Renishaw PLC | 416 | 23,461 | ||||||
Rentokil Initial PLC | 71,333 | 333,029 | ||||||
Rightmove PLC | 13,314 | 85,375 | ||||||
Rio Tinto Ltd. | 7,034 | 481,217 | ||||||
Rio Tinto PLC | 2,481 | 143,087 | ||||||
Rolls-Royce Holdings PLC* | 11,224 | 142,572 | ||||||
Royal Mail PLC | 92,456 | 347,775 | ||||||
RPC Group PLC | 6,435 | 67,789 | ||||||
RSA Insurance Group PLC | 2,621 | 17,814 | ||||||
Sage Group PLC | 5,657 | 49,736 | ||||||
Schroders PLC | 429 | 15,606 | ||||||
Segro PLC REIT | 77,578 | 682,063 | ||||||
Severn Trent PLC | 2,542 | 68,265 | ||||||
Smith & Nephew PLC | 10,386 | 198,444 | ||||||
Smiths Group PLC | 9,841 | 187,246 | ||||||
Spirax-Sarco Engineering PLC | 600 | 53,191 | ||||||
SSE PLC | 16,549 | 261,611 | ||||||
St James’s Place PLC | 467 | 6,040 | ||||||
Standard Life Aberdeen PLC | 2,520 | 8,271 | ||||||
Subsea 7 SA | 1,356 | 16,596 | ||||||
Tate & Lyle PLC | 15,089 | 139,486 | ||||||
Taylor Wimpey PLC | 49,092 | 118,449 | ||||||
TechnipFMC PLC | 304 | 6,702 | ||||||
Tesco PLC | 26,805 | 80,577 | ||||||
Travis Perkins PLC | 3,035 | 57,969 | ||||||
Unilever NV | 725 | 39,268 | ||||||
Unilever PLC | 1,531 | 81,618 | ||||||
United Utilities Group PLC | 9,538 | 106,592 | ||||||
Vodafone Group PLC | 38,641 | 69,015 | ||||||
Weir Group PLC | 1,120 | 24,431 | ||||||
Whitbread PLC | 2,430 | 156,856 | ||||||
William Hill PLC | 7,761 | 19,361 | ||||||
Wm Morrison Supermarkets PLC | 65,951 | 201,847 | ||||||
WPP PLC | 4,873 | 53,525 | ||||||
|
| |||||||
11,130,991 | ||||||||
|
|
Number | Value | |||||||
United States (c) — 0.4% | ||||||||
Carnival PLC | 2,016 | $ | 113,051 | |||||
Samsonite International SA, 144A* | 11,119 | 33,358 | ||||||
Sims Metal Management Ltd. | 2,932 | 23,655 | ||||||
Waste Connections, Inc. | 1,711 | 142,531 | ||||||
|
| |||||||
312,595 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 81,909,572 | |||||||
|
| |||||||
PREFERRED STOCKS — 0.2% | ||||||||
Germany — 0.2% | ||||||||
FUCHS PETROLUB SE | 875 | 39,157 | ||||||
Henkel AG & Co. KGaA | 189 | 18,904 | ||||||
Porsche Automobil Holding SE | 1,245 | 83,105 | ||||||
Sartorius AG | 64 | 10,159 | ||||||
|
| |||||||
151,325 | ||||||||
|
| |||||||
South Korea — 0.0% | ||||||||
CJ Corp.*(e) | 6 | 40 | ||||||
Hanwha Corp. | 461 | 6,394 | ||||||
Hyundai Motor Co. — 2nd Preferred | 62 | 4,432 | ||||||
|
| |||||||
10,866 | ||||||||
|
| |||||||
Spain — 0.0% | ||||||||
Grifols SA, Class B | 407 | 7,795 | ||||||
|
| |||||||
TOTAL PREFERRED STOCKS | 169,986 | |||||||
|
| |||||||
SECURITIES LENDING COLLATERAL — 1.1% | ||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares” , 2.31% (f)(g) | 890,630 | 890,630 | ||||||
|
| |||||||
CASH EQUIVALENTS — 0.0% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 2.38% (f) | 11,096 | 11,096 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 100.8% (Cost $83,987,192) | $ | 82,981,284 | ||||||
Other assets and liabilities, net — (0.8%) | (655,284 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 82,326,000 | ||||||
|
|
See Notes to Financial Statements. | 19 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2019 is as follows:
Value ($) at 8/31/2018 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2019 | Value ($) at 2/28/2019 | ||||||||||||||||||||||||||||||
COMMON STOCKS—0.0% | ||||||||||||||||||||||||||||||||||||||
Germany—0.0% | ||||||||||||||||||||||||||||||||||||||
DWS Group GmbH & Co. KGaA, 144A*(d) | ||||||||||||||||||||||||||||||||||||||
— | 16,544 | — | — | 2,295 | — | — | 634 | 18,839 | ||||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL—1.1% | ||||||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 2.31% (f)(g) | ||||||||||||||||||||||||||||||||||||||
227,652 | 662,978 | (h) | — | — | — | 2,773 | — | 890,630 | 890,630 | |||||||||||||||||||||||||||||
CASH EQUIVALENTS—0.0% | ||||||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 2.38% (f) | ||||||||||||||||||||||||||||||||||||||
— | 2,065,337 | (2,054,241 | ) | — | — | 543 | — | 11,096 | 11,096 | |||||||||||||||||||||||||||||
|
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| |||||||||||||||||||||
227,652 | 2,744,859 | (2,054,241 | ) | — | 2,295 | 3,316 | — | 902,360 | 920,565 | |||||||||||||||||||||||||||||
|
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|
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|
|
|
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|
|
|
|
|
|
|
|
|
|
* | Non-income producing security. |
(a) | Stapled Security — A security contractually bound to one or more other securities to form a single saleable unit which cannot be sold separately. |
(b) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2019 amounted to $1,165,922, which is 1.4% of net assets. |
(c) | Securities are listed in country of domicile and trade on exchanges within the FTSE Developed ex US Comprehensive Factor Index. |
(d) | Affiliated issuer. The security is owned in proportion with its representation in the index. |
(e) | Investment was valued using significant unobservable inputs. |
(f) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualizedseven-day yield at period end. |
(g) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund heldnon-cash U.S. Treasury securities collateral having a value of $434,944. |
(h) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2019. |
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 February 28, 2019, open futures contract purchased was as follows:
Contract Description | Currency | Number of Contracts | Notional Amount | Contract Value | Expiration Date | Unrealized Appreciation | ||||||||||||
MSCI EAFE Futures | USD | 2 | $ | 166,910 | $186,900 | 3/15/2019 | $ | 19,990 |
For information on the Fund’s policy and additional disclosures regarding open futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
Currency Abbreviations
USD | U.S. Dollar |
See Notes to Financial Statements. | 20 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Developed ex US Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2019 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 (i) | $ | 81,909,572 | $ | — | $ | — | $ | 81,909,572 | ||||||||
Preferred Stocks (i) | 169,946 | — | 40 | 169,986 | ||||||||||||
Short-Term Investments (i) | 901,726 | — | — | 901,726 | ||||||||||||
Derivatives (j) | ||||||||||||||||
Futures Contracts | 19,990 | — | — | 19,990 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 83,001,234 | $ | — | $ | 40 | $ | 83,001,274 | ||||||||
|
|
|
|
|
|
|
|
(i) | See Schedule of Investments for additional detailed categorizations. |
(j) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
During the period ended February 28, 2019, the amount of transfers between Level 3 and Level 1 was $40,835. The investment was transferred from Level 3 to Level 1 due to the availability of a pricing source supported by observable inputs.
See Notes to Financial Statements. | 21 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Emerging Comprehensive Factor ETF
February 28, 2019 (Unaudited)
Number | Value | |||||||
COMMON STOCKS — 95.8% | ||||||||
Brazil — 4.9% | ||||||||
Ambev SA | 46 | $ | 211 | |||||
Atacadao Distribuicao Comercio e Industria Ltda | 154 | 802 | ||||||
B3 SA — Brasil Bolsa Balcao | 1,636 | 14,304 | ||||||
Banco BTG Pactual SA | 1,095 | 9,971 | ||||||
Banco Santander Brasil SA | 64 | 767 | ||||||
BB Seguridade Participacoes SA | 1,370 | 9,973 | ||||||
CCR SA | 18 | 68 | ||||||
Cia de Saneamento Basico do Estado de Sao Paulo | 668 | 7,009 | ||||||
Cielo SA | 872 | 2,527 | ||||||
Cosan SA | 817 | 9,520 | ||||||
EDP — Energias do Brasil SA | 3,274 | 15,103 | ||||||
Embraer SA | 2,238 | 11,386 | ||||||
Energisa SA | 1,214 | 13,046 | ||||||
Engie Brasil Energia SA | 698 | 7,661 | ||||||
Equatorial Energia SA | 867 | 18,987 | ||||||
Estacio Participacoes SA | 167 | 1,227 | ||||||
Fleury SA | 233 | 1,243 | ||||||
Grendene SA | 2,170 | 5,017 | ||||||
Guararapes Confeccoes SA | 28 | 1,091 | ||||||
Hypera SA | 1,068 | 7,661 | ||||||
IRB Brasil Resseguros S/A | 1,347 | 31,967 | ||||||
JBS SA | 208 | 745 | ||||||
Klabin SA | 729 | 3,507 | ||||||
Kroton Educacional SA | 127 | 371 | ||||||
Localiza Rent a Car SA | 384 | 3,538 | ||||||
Lojas Renner SA | 1,178 | 13,595 | ||||||
M Dias Branco SA | 273 | 3,420 | ||||||
Multiplan Empreendimentos Imobiliarios SA | 167 | 1,121 | ||||||
Odontoprev SA | 557 | 2,465 | ||||||
Petrobras Distribuidora SA | 2,343 | 15,275 | ||||||
Porto Seguro SA | 731 | 10,923 | ||||||
Qualicorp Consultoria e Corretora de Seguros SA | 220 | 909 | ||||||
Raia Drogasil SA | 579 | 10,099 | ||||||
Sao Martinho SA | 2,264 | 11,337 | ||||||
Smiles Fidelidade SA | 68 | 870 | ||||||
Sul America SA | 2,628 | 21,303 | ||||||
Suzano Papel e Celulose SA | 392 | 4,982 | ||||||
TIM Participacoes SA | 3,176 | 10,010 | ||||||
Transmissora Alianca de Energia Eletrica SA | 2,324 | 15,467 | ||||||
Ultrapar Participacoes SA | 85 | 1,210 | ||||||
Vale SA | 68 | 854 | ||||||
WEG SA | 638 | 3,134 | ||||||
|
| |||||||
304,676 | ||||||||
|
| |||||||
Chile — 2.7% | ||||||||
AES Gener SA | 19,001 | 5,690 | ||||||
Aguas Andinas SA, Class A | 15,683 | 9,197 | ||||||
Banco de Chile | 28,245 | 4,491 | ||||||
Banco de Credito e Inversiones SA | 80 | 5,478 | ||||||
Banco Santander Chile | 39,330 | 3,141 | ||||||
Cencosud SA | 5,801 | 10,817 |
Number | Value | |||||||
Chile (Continued) | ||||||||
Cia Cervecerias Unidas SA | 1,212 | $ | 17,167 | |||||
Colbun SA | 45,736 | 10,581 | ||||||
Empresa Nacional de Telecomunicaciones SA | 947 | 9,979 | ||||||
Empresas CMPC SA | 3,921 | 14,730 | ||||||
Empresas COPEC SA | 1,132 | 15,386 | ||||||
Enel Americas SA | 93,684 | 16,310 | ||||||
Enel Chile SA | 165,850 | 17,428 | ||||||
Engie Energia Chile SA | 3,542 | 7,060 | ||||||
Latam Airlines Group SA | 561 | 6,528 | ||||||
Parque Arauco SA | 3,918 | 10,770 | ||||||
SACI Falabella | 570 | 4,439 | ||||||
|
| |||||||
169,192 | ||||||||
| �� | |||||||
China — 19.0% | ||||||||
3SBio, Inc., 144A | 1,038 | 1,716 | ||||||
51job, Inc., ADR*(a) | 45 | 3,252 | ||||||
Agile Group Holdings Ltd. | 2,859 | 3,573 | ||||||
Agricultural Bank of China Ltd., Class H | 43,838 | 20,998 | ||||||
Air China Ltd., Class H | 4,646 | 5,019 | ||||||
Alibaba Group Holding Ltd., ADR*(a) | 6 | 1,098 | ||||||
Aluminum Corp. of China Ltd., Class H* | 791 | 325 | ||||||
Angang Steel Co. Ltd., Class H (a) | 10,698 | 7,959 | ||||||
Anhui Conch Cement Co. Ltd., Class H | 7,048 | 40,314 | ||||||
Anhui Expressway Co. Ltd., Class H | 2,861 | 1,870 | ||||||
Anhui Gujing Distillery Co. Ltd., Class B | 1,916 | 11,570 | ||||||
ANTA Sports Products Ltd. | 768 | 4,501 | ||||||
BAIC Motor Corp. Ltd., Class H, 144A | 910 | 579 | ||||||
Bank of China Ltd., Class H | 13,861 | 6,463 | ||||||
Bank of Communications Co. Ltd., Class H | 2,315 | 1,944 | ||||||
Beijing Capital International Airport Co. Ltd., Class H | 839 | 839 | ||||||
Beijing Jingneng Clean Energy Co. Ltd., Class H | 2,715 | 598 | ||||||
Bengang Steel Plates Co. Ltd., Class B | 9,700 | 2,904 | ||||||
BOE Technology Group Co. Ltd., Class B | 10,969 | 4,346 | ||||||
CAR, Inc.* | 635 | 558 | ||||||
China BlueChemical Ltd., Class H | 8,642 | 2,730 | ||||||
China CITIC Bank Corp. Ltd., Class H | 14,572 | 9,467 | ||||||
China Coal Energy Co. Ltd., Class H | 12,114 | 5,262 | ||||||
China Communications Construction Co. Ltd., Class H | 14,085 | 15,180 | ||||||
China Communications Services Corp. Ltd., Class H | 23,296 | 23,415 | ||||||
China Conch Venture Holdings Ltd. | 8,752 | 29,211 | ||||||
China Construction Bank Corp., Class H | 2,101 | 1,868 | ||||||
China Dongxiang Group Co. Ltd. | 23,300 | 3,354 | ||||||
China Eastern Airlines Corp. Ltd., Class H | 3,738 | 2,386 | ||||||
China Everbright Bank Co. Ltd., Class H | 4,079 | 1,954 | ||||||
China Huarong Asset Management Co. Ltd., Class H, 144A | 2,106 | 483 | ||||||
China Life Insurance Co. Ltd., Class H | 2,546 | 7,006 | ||||||
China Literature Ltd., 144A*(a) | 274 | 1,307 | ||||||
China Longyuan Power Group Corp. Ltd., Class H | 4,993 | 3,727 | ||||||
China Machinery Engineering Corp., Class H | 1,431 | 764 |
See Notes to Financial Statements. | 22 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Emerging Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
China (Continued) | ||||||||
China Medical System Holdings Ltd. | 4,725 | $ | 4,972 | |||||
China Merchants Bank Co. Ltd., Class H | 1,398 | 6,411 | ||||||
China Minsheng Banking Corp. Ltd., Class H | 13,103 | 10,115 | ||||||
China National Building Material Co. Ltd., Class H | 5,490 | 4,371 | ||||||
China Oilfield Services Ltd., Class H | 2,000 | 1,980 | ||||||
China Pacific Insurance Group Co. Ltd., Class H | 2,627 | 9,889 | ||||||
China Petroleum & Chemical Corp., Class H | 123,442 | 106,619 | ||||||
China Railway Construction Corp. Ltd., Class H | 10,395 | 14,964 | ||||||
China Railway Group Ltd., Class H | 27,505 | 27,260 | ||||||
China Railway Signal & Communication Corp. Ltd., Class H, 144A | 921 | 763 | ||||||
China Reinsurance Group Corp., Class H | 19,478 | 4,491 | ||||||
China Resources Pharmaceutical Group Ltd., 144A | 5,189 | 6,954 | ||||||
China Shenhua Energy Co. Ltd., Class H | 31,998 | 78,917 | ||||||
China Southern Airlines Co. Ltd., Class H | 999 | 816 | ||||||
China Telecom Corp. Ltd., Class H | 2,863 | 1,550 | ||||||
China Vanke Co. Ltd., Class H (a) | 3,058 | 11,609 | ||||||
China Zhongwang Holdings Ltd. | 7,355 | 3,898 | ||||||
Chongqing Changan Automobile Co. Ltd., Class B | 1,713 | 978 | ||||||
Chongqing Rural Commercial Bank Co. Ltd., Class H | 109 | 68 | ||||||
CIFI Holdings Group Co. Ltd. | 8,702 | 5,676 | ||||||
CNOOC Ltd. | 1,823 | 3,144 | ||||||
COSCO SHIPPING Development Co. Ltd., | 4,374 | 580 | ||||||
COSCO SHIPPING Energy Transportation Co., Ltd., Class H | 4,008 | 2,359 | ||||||
Country Garden Holdings Co. Ltd. | 699 | 921 | ||||||
Country Garden Services Holdings Co. | 2,982 | 4,908 | ||||||
CRRC Corp. Ltd., Class H | 7,349 | 7,714 | ||||||
CSG Holding Co. Ltd., Class B | 7,598 | 2,710 | ||||||
CSPC Pharmaceutical Group Ltd. | 4,550 | 7,767 | ||||||
Dali Foods Group Co. Ltd., 144A | 6,769 | 4,613 | ||||||
Datang International Power Generation Co. Ltd., Class H | 14,450 | 4,013 | ||||||
Dazhong Transportation Group Co. Ltd., Class B | 1,210 | 632 | ||||||
Dongfeng Motor Group Co. Ltd., Class H | 3,580 | 3,808 | ||||||
ENN Energy Holdings Ltd. | 3,427 | 35,362 | ||||||
Foshan Electrical and Lighting Co. Ltd., Class B | 4,440 | 2,217 | ||||||
Fosun International Ltd. | 2,313 | 3,807 | ||||||
Fuyao Glass Industry Group Co. Ltd., Class H, 144A | 2,344 | 8,376 | ||||||
Geely Automobile Holdings Ltd. | 978 | 1,836 | ||||||
GF Securities Co. Ltd., Class H | 28 | 47 | ||||||
GOME Retail Holdings Ltd.*(a) | 8,820 | 798 | ||||||
Guangdong Electric Power Development Co. Ltd., Class B | 13,100 | 4,639 |
Number | Value | |||||||
China (Continued) | ||||||||
Guangshen Railway Co. Ltd., Class H | 9,809 | $ | 4,261 | |||||
Guangzhou Automobile Group Co. Ltd., Class H | 5,217 | 6,413 | ||||||
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class H | 1,800 | 6,982 | ||||||
Guangzhou R&F Properties Co. Ltd., Class H | 1,563 | 2,923 | ||||||
Guotai Junan Securities Co. Ltd., Class H, 144A | 5,053 | 11,252 | ||||||
Haitian International Holdings Ltd. | 1,029 | 2,249 | ||||||
Hengan International Group Co. Ltd. | 671 | 5,424 | ||||||
Huadian Fuxin Energy Corp. Ltd., Class H | 4,580 | 1,039 | ||||||
Huadian Power International Corp. Ltd., Class H | 22,759 | 9,974 | ||||||
Huaneng Power International, Inc., Class H | 59,599 | 36,747 | ||||||
Huaneng Renewables Corp. Ltd., Class H | 12,138 | 3,696 | ||||||
Huazhu Group Ltd., ADR (a) | 21 | 737 | ||||||
Industrial & Commercial Bank of China Ltd., Class H | 5,617 | 4,322 | ||||||
Inner Mongolia Yitai Coal Co. Ltd., Class B | 4,800 | 5,928 | ||||||
iQIYI, Inc., ADR* | 207 | 5,622 | ||||||
JD.com, Inc., ADR*(a) | 55 | 1,524 | ||||||
Jiangling Motors Corp. Ltd., Class B | 842 | 913 | ||||||
Jiangsu Expressway Co. Ltd., Class H | 8,304 | 11,446 | ||||||
Jiangxi Copper Co. Ltd., Class H | 2,690 | 3,674 | ||||||
Jinzhou Port Co. Ltd., Class B | 400 | 161 | ||||||
Lao Feng Xiang Co. Ltd., Class B | 2,500 | 8,710 | ||||||
Lenovo Group Ltd. | 5,151 | 4,639 | ||||||
Li Ning Co. Ltd.* | 2,765 | 3,875 | ||||||
Livzon Pharmaceutical Group, Inc., Class H | 1,926 | 6,784 | ||||||
Logan Property Holdings Co. Ltd. | 5,943 | 8,464 | ||||||
Longfor Group Holdings Ltd. | 3,165 | 9,394 | ||||||
Luye Pharma Group Ltd., 144A | 7,485 | 5,588 | ||||||
Maanshan Iron & Steel Co. Ltd., Class H | 9,244 | 4,404 | ||||||
Metallurgical Corp. of China Ltd., Class H | 16,004 | 4,689 | ||||||
NetEase, Inc., ADR (a) | 10 | 2,232 | ||||||
New China Life Insurance Co. Ltd., Class H | 319 | 1,544 | ||||||
New Oriental Education & Technology Group, Inc., ADR* | 66 | 5,416 | ||||||
People’s Insurance Co. Group of China Ltd., Class H | 7,012 | 3,180 | ||||||
PetroChina Co. Ltd., Class H | 148,268 | 98,029 | ||||||
PICC Property & Casualty Co. Ltd., Class H | 10,462 | 12,528 | ||||||
Pinduoduo, Inc., ADR* | 51 | 1,527 | ||||||
Ping An Insurance Group Co. of China Ltd., Class H | 193 | 2,032 | ||||||
Qingdao Port International Co. Ltd., Class H, 144A* | 3,096 | 1,980 | ||||||
Red Star Macalline Group Corp. Ltd., Class H, 144A | 5,351 | 5,317 | ||||||
Shandong Chenming Paper Holdings Ltd., Class B | 7,870 | 5,183 | ||||||
Shandong Chenming Paper Holdings Ltd., Class H | 1,185 | 797 | ||||||
Shandong Weigao Group Medical Polymer Co. Ltd., Class H | 1,942 | 1,687 | ||||||
Shanghai Bailian Group Co. Ltd., Class B | 1,223 | 1,283 |
See Notes to Financial Statements. | 23 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Emerging Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
China (Continued) | ||||||||
Shanghai Baosight Software Co. Ltd., Class B | 3,000 | $ | 5,976 | |||||
Shanghai Chlor-Alkali Chemical Co. Ltd., Class B | 6,800 | 4,712 | ||||||
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class H | 564 | 2,001 | ||||||
Shanghai Huayi Group Co. Ltd., Class B | 2,000 | 1,866 | ||||||
Shanghai Jinjiang International Hotels Development Co. Ltd., Class B | 1,700 | 3,653 | ||||||
Shanghai Jinqiao Export Processing Zone Development Co. Ltd., Class B | 400 | 487 | ||||||
Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd., Class B | 1,021 | 1,443 | ||||||
Shanghai Mechanical and Electrical Industry Co. Ltd., Class B | 3,562 | 6,636 | ||||||
Shanghai Pharmaceuticals Holding Co. Ltd., Class H | 4,674 | 10,503 | ||||||
Shanghai Waigaoqiao Free Trade Zone Group Co. Ltd., Class B | 1,200 | 1,600 | ||||||
Shanghai Zhenhua Heavy Industries Co. Ltd., Class B | 8,520 | 3,331 | ||||||
Shenzhen Expressway Co. Ltd., Class H | 5,389 | 5,925 | ||||||
Shenzhou International Group Holdings Ltd. | 830 | 10,362 | ||||||
Sichuan Expressway Co. Ltd., Class H | 4,375 | 1,449 | ||||||
Sihuan Pharmaceutical Holdings Group Ltd. | 728 | 152 | ||||||
SINA Corp.* | 13 | 876 | ||||||
Sino-Ocean Group Holding Ltd. | 4,210 | 1,968 | ||||||
Sinopec Engineering Group Co. Ltd., Class H | 10,622 | 9,648 | ||||||
Sinopec Shanghai Petrochemical Co. Ltd., Class H | 22,541 | 11,429 | ||||||
Sinopharm Group Co. Ltd., Class H | 916 | 4,073 | ||||||
Sinotrans Ltd., Class H | 2,959 | 1,391 | ||||||
Sinotruk Hong Kong Ltd. | 5,209 | 9,476 | ||||||
SOHO China Ltd.* | 16,173 | 6,902 | ||||||
TAL Education Group, ADR*(a) | 107 | 3,809 | ||||||
Tencent Holdings Ltd. | 65 | 2,781 | ||||||
TravelSky Technology Ltd., Class H | 269 | 780 | ||||||
Tsingtao Brewery Co. Ltd., Class H | 4,667 | 19,798 | ||||||
Weichai Power Co. Ltd., Class H | 15,753 | 21,874 | ||||||
Weifu High-Technology Group Co. Ltd., Class B | 3,616 | 7,205 | ||||||
Wuxi Little Swan Co. Ltd., Class B | 1,047 | 6,922 | ||||||
Xinhua Winshare Publishing and Media Co. Ltd., Class H | 4,740 | 3,502 | ||||||
Xinjiang Goldwind Science & Technology Co. Ltd., Class H | 701 | 804 | ||||||
Yangzijiang Shipbuilding Holdings Ltd. | 10,374 | 10,979 | ||||||
Yantai Changyu Pioneer Wine Co. Ltd., Class B | 3,057 | 6,640 | ||||||
Yanzhou Coal Mining Co. Ltd., Class H | 4,796 | 4,760 | ||||||
YY, Inc., ADR* | 7 | 494 | ||||||
Zhongsheng Group Holdings Ltd. | 678 | 1,575 | ||||||
Zhuzhou CRRC Times Electric Co. Ltd., Class H | 790 | 4,433 |
Number | Value | |||||||
China (Continued) | ||||||||
Zijin Mining Group Co. Ltd., Class H | 38,366 | $ | 16,422 | |||||
ZTO Express Cayman, Inc., ADR | 509 | 10,119 | ||||||
|
| |||||||
1,184,417 | ||||||||
|
| |||||||
Colombia — 0.5% | ||||||||
Almacenes Exito SA | 3,398 | 16,112 | ||||||
Bancolombia SA | 330 | 3,856 | ||||||
CEMEX Latam Holdings SA* | 454 | 737 | ||||||
Corp. Financiera Colombiana SA* | 125 | 994 | ||||||
Ecopetrol SA | 608 | 616 | ||||||
Grupo de Inversiones Suramericana SA | 182 | 2,069 | ||||||
Interconexion Electrica SA ESP | 1,348 | 6,120 | ||||||
|
| |||||||
30,504 | ||||||||
|
| |||||||
Czech Republic — 0.4% | ||||||||
CEZ AS | 535 | 12,984 | ||||||
Komercni banka as | 39 | 1,640 | ||||||
Moneta Money Bank AS, 144A | 1,590 | 5,640 | ||||||
O2 Czech Republic AS | 55 | 600 | ||||||
Philip Morris CR AS | 11 | 7,100 | ||||||
|
| |||||||
27,964 | ||||||||
|
| |||||||
Egypt — 1.1% | ||||||||
Abou Kir Fertilizers & Chemical Industries | 2,500 | 3,572 | ||||||
Commercial International Bank Egypt SAE, GDR | 2,651 | 10,564 | ||||||
Eastern Tobacco | 10,750 | 10,241 | ||||||
Egypt Kuwait Holding Co. SAE | 12,500 | 18,175 | ||||||
Egyptian Financial Group-Hermes Holding Co.* | 4,000 | 3,900 | ||||||
ElSewedy Electric Co. | 14,000 | 13,752 | ||||||
Global Telecom Holding SAE* | 12,000 | 3,253 | ||||||
Talaat Moustafa Group | 3,931 | 2,527 | ||||||
Telecom Egypt Co. | 6,500 | 5,524 | ||||||
|
| |||||||
71,508 | ||||||||
|
| |||||||
Greece — 0.6% | ||||||||
FF Group*(b) | 144 | 787 | ||||||
Hellenic Petroleum SA | 162 | 1,483 | ||||||
Hellenic Telecommunications Organization SA | 186 | 2,362 | ||||||
JUMBO SA | 150 | 2,442 | ||||||
Motor Oil Hellas Corinth Refineries SA | 725 | 17,667 | ||||||
Mytilineos Holdings SA | 590 | 6,161 | ||||||
OPAP SA | 441 | 4,519 | ||||||
Titan Cement Co. SA | 89 | 1,952 | ||||||
|
| |||||||
37,373 | ||||||||
|
| |||||||
Hong Kong — 3.2% | ||||||||
Beijing Enterprises Holdings Ltd. | 1,971 | 11,563 | ||||||
Bosideng International Holdings Ltd. | 11,636 | 2,238 | ||||||
China Agri-Industries Holdings Ltd. | 2,651 | 942 | ||||||
China Everbright International Ltd. | 820 | 802 | ||||||
China Everbright Ltd. | 1,664 | 3,362 | ||||||
China Gas Holdings Ltd. | 1,121 | 3,684 | ||||||
China Merchants Port Holdings Co. Ltd. | 259 | 544 | ||||||
China Mobile Ltd. | 200 | 2,104 | ||||||
China Overseas Land & Investment Ltd. | 902 | 3,321 |
See Notes to Financial Statements. | 24 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Emerging Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Hong Kong (Continued) | ||||||||
China Power International Development Ltd. | 14,639 | $ | 3,692 | |||||
China Resources Beer Holdings Co. Ltd. | 1,209 | 4,505 | ||||||
China Resources Cement Holdings Ltd. | 9,955 | 10,602 | ||||||
China Resources Gas Group Ltd. | 3,266 | 14,188 | ||||||
China Resources Land Ltd. | 1,865 | 6,961 | ||||||
China Resources Power Holdings Co. Ltd. | 11,544 | 21,883 | ||||||
China State Construction International Holdings Ltd. | 1,060 | 1,121 | ||||||
China Taiping Insurance Holdings Co. Ltd. | 569 | 1,761 | ||||||
China Traditional Chinese Medicine Holdings Co. Ltd. | 6,267 | 4,136 | ||||||
China Unicom Hong Kong Ltd. | 2,604 | 3,088 | ||||||
CIMC Enric Holdings Ltd. | 1,065 | 951 | ||||||
CITIC Ltd. | 2,919 | 4,440 | ||||||
COSCO SHIPPING Ports Ltd. | 8,884 | 9,439 | ||||||
Far East Horizon Ltd. | 808 | 902 | ||||||
Guangdong Investment Ltd. | 12,739 | 24,440 | ||||||
Haier Electronics Group Co. Ltd.* | 3,784 | 11,280 | ||||||
Hopson Development Holdings Ltd. | 1,336 | 1,236 | ||||||
Jiayuan International Group Ltd. | 4,816 | 2,344 | ||||||
Kingboard Holdings Ltd. | 645 | 2,260 | ||||||
Kingboard Laminates Holdings Ltd. | 1,235 | 1,513 | ||||||
Kunlun Energy Co. Ltd. | 7,040 | 7,731 | ||||||
Lee & Man Paper Manufacturing Ltd. | 6,265 | 5,770 | ||||||
Poly Property Group Co. Ltd. | 73 | 28 | ||||||
Shanghai Industrial Holdings Ltd. | 2,045 | 4,585 | ||||||
Shenzhen International Holdings Ltd. | 3,189 | 6,581 | ||||||
Shenzhen Investment Ltd. | 4,733 | 1,767 | ||||||
Shimao Property Holdings Ltd. | 1,806 | 4,270 | ||||||
Sino Biopharmaceutical Ltd. | 5,050 | 4,381 | ||||||
Yuexiu Property Co. Ltd. | 8,030 | 1,852 | ||||||
|
| |||||||
196,267 | ||||||||
|
| |||||||
Hungary — 0.9% | ||||||||
Magyar Telekom Telecommunications PLC | 8,055 | 13,575 | ||||||
MOL Hungarian Oil & Gas PLC | 3,183 | 37,178 | ||||||
OTP Bank Nyrt | 66 | 2,793 | ||||||
Richter Gedeon Nyrt | 276 | 5,348 | ||||||
|
| |||||||
58,894 | ||||||||
|
| |||||||
India — 6.9% | ||||||||
ABB India Ltd. | 87 | 1,501 | ||||||
ACC Ltd. | 187 | 3,739 | ||||||
Adani Ports & Special Economic Zone Ltd. | 415 | 1,901 | ||||||
Ambuja Cements Ltd. | 1,459 | 4,350 | ||||||
Ashok Leyland Ltd. | 1,915 | 2,329 | ||||||
Asian Paints Ltd. | 311 | 6,144 | ||||||
Aurobindo Pharma Ltd. | 211 | 2,112 | ||||||
Axis Bank Ltd.* | 120 | 1,197 | ||||||
Bajaj Auto Ltd. | 144 | 5,872 | ||||||
Bajaj Finance Ltd. | 33 | 1,229 | ||||||
Bajaj Holdings & Investment Ltd. | 287 | 12,771 | ||||||
Berger Paints India Ltd. | 820 | 3,516 | ||||||
Bharat Forge Ltd. | 342 | 2,466 | ||||||
Bharat Heavy Electricals Ltd. | 354 | 321 | ||||||
Bharat Petroleum Corp. Ltd. | 1,632 | 7,745 | ||||||
Bharti Airtel Ltd. | 372 | 1,663 |
Number | Value | |||||||
India (Continued) | ||||||||
Bharti Infratel Ltd. | 757 | $ | 3,125 | |||||
Biocon Ltd. | 225 | 1,966 | ||||||
Bosch Ltd. | 5 | 1,337 | ||||||
Britannia Industries Ltd. | 80 | 3,438 | ||||||
Cadila Healthcare Ltd. | 38 | 170 | ||||||
Castrol India Ltd. | 870 | 1,892 | ||||||
Cipla Ltd. | 619 | 4,826 | ||||||
Coal India Ltd. | 1,817 | 5,832 | ||||||
Colgate-Palmolive India Ltd. | 213 | 3,763 | ||||||
Container Corp. Of India Ltd. | 613 | 4,074 | ||||||
Cummins India Ltd. | 81 | 797 | ||||||
Dabur India Ltd. | 1,054 | 6,491 | ||||||
Divi’s Laboratories Ltd. | 232 | 5,396 | ||||||
DLF Ltd. | 474 | 1,098 | ||||||
Dr Reddy’s Laboratories Ltd. | 162 | 5,994 | ||||||
Eicher Motors Ltd. | 10 | 2,793 | ||||||
Emami Ltd. | 126 | 694 | ||||||
Exide Industries Ltd. | 1,705 | 5,268 | ||||||
GAIL India Ltd. | 2,416 | 11,617 | ||||||
GlaxoSmithKline Consumer Healthcare Ltd. | 60 | 6,086 | ||||||
Glenmark Pharmaceuticals Ltd. | 487 | 4,085 | ||||||
Godrej Consumer Products Ltd. | 237 | 2,242 | ||||||
Godrej Industries Ltd. | 203 | 1,407 | ||||||
Havells India Ltd. | 808 | 8,126 | ||||||
HCL Technologies Ltd. | 1,176 | 17,425 | ||||||
Hero MotoCorp Ltd. | 214 | 7,907 | ||||||
Hindalco Industries Ltd. | 1,516 | 4,172 | ||||||
Hindustan Petroleum Corp. Ltd. | 642 | 2,016 | ||||||
Hindustan Unilever Ltd. | 141 | 3,435 | ||||||
Hindustan Zinc Ltd. | 188 | 712 | ||||||
Housing Development Finance Corp. Ltd. | 133 | 3,443 | ||||||
ICICI Lombard General Insurance Co. Ltd., 144A | 80 | 1,047 | ||||||
ICICI Prudential Life Insurance Co. Ltd., 144A | 249 | 1,119 | ||||||
Indiabulls Housing Finance Ltd. | 47 | 433 | ||||||
Indian Oil Corp. Ltd. | 2,214 | 4,501 | ||||||
Infosys Ltd. | 3,288 | 33,945 | ||||||
InterGlobe Aviation Ltd., 144A | 142 | 2,247 | ||||||
ITC Ltd. | 297 | 1,153 | ||||||
JSW Energy Ltd.* | 716 | 649 | ||||||
JSW Steel Ltd. | 3,487 | 13,781 | ||||||
Kansai Nerolac Paints Ltd. | 468 | 2,962 | ||||||
Larsen & Toubro Infotech Ltd., 144A | 189 | 4,569 | ||||||
Larsen & Toubro Ltd. | 50 | 909 | ||||||
Lupin Ltd. | 93 | 999 | ||||||
Mahindra & Mahindra Ltd. | 751 | 6,820 | ||||||
Marico Ltd. | 1,395 | 6,663 | ||||||
Maruti Suzuki India Ltd. | 41 | 3,937 | ||||||
Motherson Sumi Systems Ltd. | 336 | 768 | ||||||
Mphasis Ltd. | 1,064 | 15,576 | ||||||
MRF Ltd. | 5 | 3,996 | ||||||
Nestle India Ltd. | 37 | 5,535 | ||||||
NHPC Ltd. | 10,330 | 3,333 | ||||||
NMDC Ltd. | 2,623 | 3,714 | ||||||
NTPC Ltd. | 1,594 | 3,166 |
See Notes to Financial Statements. | 25 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Emerging Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
India (Continued) | ||||||||
Oil & Natural Gas Corp. Ltd. | 2,234 | $ | 4,669 | |||||
Oil India Ltd. | 2,981 | 7,318 | ||||||
Oracle Financial Services Software Ltd. | 118 | 5,810 | ||||||
Page Industries Ltd. | 15 | 4,700 | ||||||
Petronet LNG Ltd. | 2,238 | 7,036 | ||||||
Pidilite Industries Ltd. | 485 | 7,858 | ||||||
Power Grid Corp. of India Ltd. | 654 | 1,681 | ||||||
Rajesh Exports Ltd. | 202 | 1,647 | ||||||
Reliance Industries Ltd. | 103 | 1,783 | ||||||
Reliance Infrastructure Ltd. | 172 | 297 | ||||||
Shree Cement Ltd. | 11 | 2,566 | ||||||
Shriram Transport Finance Co. Ltd. | 43 | 691 | ||||||
Siemens Ltd. | 55 | 767 | ||||||
Steel Authority of India Ltd.* | 2,470 | 1,676 | ||||||
Sun Pharmaceutical Industries Ltd. | 241 | 1,508 | ||||||
Sun TV Network Ltd. | 111 | 949 | ||||||
Tata Communications Ltd. | 105 | 871 | ||||||
Tata Consultancy Services Ltd. | 86 | 2,398 | ||||||
Tata Power Co. Ltd. | 3,264 | 3,004 | ||||||
Tata Steel Ltd. | 342 | 2,406 | ||||||
Tech Mahindra Ltd. | 2,186 | 25,514 | ||||||
Titan Co. Ltd. | 309 | 4,454 | ||||||
Torrent Pharmaceuticals Ltd. | 70 | 1,773 | ||||||
Torrent Power Ltd. | 60 | 205 | ||||||
UltraTech Cement Ltd. | 46 | 2,475 | ||||||
United Breweries Ltd. | 262 | 4,950 | ||||||
UPL Ltd. | 247 | 3,048 | ||||||
Vedanta Ltd. | 401 | 955 | ||||||
Wipro Ltd. | 1,758 | 9,118 | ||||||
Yes Bank Ltd. | 475 | 1,544 | ||||||
Zee Entertainment Enterprises Ltd. | 926 | 6,076 | ||||||
|
| |||||||
432,052 | ||||||||
|
| |||||||
Indonesia — 1.4% | ||||||||
PT Adaro Energy Tbk | 33,848 | 3,152 | ||||||
PT Astra Agro Lestari Tbk | 1,131 | 997 | ||||||
PT Astra International Tbk | 9,226 | 4,689 | ||||||
PT Bank Central Asia Tbk | 1,731 | 3,393 | ||||||
PT Bank Danamon Indonesia Tbk | 3,592 | 2,177 | ||||||
PT Bank Mandiri Persero Tbk | 5,643 | 2,858 | ||||||
PT Bank Negara Indonesia Persero Tbk | 1,940 | 1,214 | ||||||
PT Bank Rakyat Indonesia Persero Tbk | 15,854 | 4,339 | ||||||
PT Bukit Asam Tbk | 16,186 | 4,579 | ||||||
PT Bumi Serpong Damai Tbk* | 25,190 | 2,426 | ||||||
PT Charoen Pokphand Indonesia Tbk | 10,830 | 5,620 | ||||||
PT Gudang Garam Tbk | 832 | 5,051 | ||||||
PT Hanjaya Mandala Sampoerna Tbk | 3,301 | 892 | ||||||
PT Indocement Tunggal Prakarsa Tbk | 1,011 | 1,382 | ||||||
PT Indofood CBP Sukses Makmur Tbk | 8,407 | 6,111 | ||||||
PT Indofood Sukses Makmur Tbk | 7,439 | 3,741 | ||||||
PT Jasa Marga Persero Tbk | 9,020 | 3,350 | ||||||
PT Kalbe Farma Tbk | 25,608 | 2,721 | ||||||
PT Media Nusantara Citra Tbk | 9,667 | 643 | ||||||
PT Perusahaan Gas Negara Persero Tbk | 20,054 | 3,621 | ||||||
PT Semen Indonesia Persero Tbk | 2,921 | 2,627 | ||||||
PT Surya Citra Media Tbk | 13,648 | 1,698 | ||||||
PT Telekomunikasi Indonesia Persero Tbk | 26,491 | 7,269 |
Number | Value | |||||||
Indonesia (Continued) | ||||||||
PT Tower Bersama Infrastructure Tbk | 2,101 | $ | 594 | |||||
PT Unilever Indonesia Tbk | 501 | 1,733 | ||||||
PT United Tractors Tbk | 4,642 | 8,744 | ||||||
|
| |||||||
85,621 | ||||||||
|
| |||||||
Isle of Man — 0.0% | ||||||||
MAS Real Estate, Inc. | 695 | 1,121 | ||||||
|
| |||||||
Malaysia — 5.6% | ||||||||
AirAsia Group Bhd | 10,201 | 6,949 | ||||||
Alliance Bank Malaysia Bhd | 3,148 | 3,066 | ||||||
AMMB Holdings Bhd | 561 | 617 | ||||||
Astro Malaysia Holdings Bhd | 5,457 | 2,201 | ||||||
Axiata Group Bhd | 4,983 | 5,098 | ||||||
British American Tobacco Malaysia Bhd | 634 | 5,254 | ||||||
Bumi Armada Bhd* | 21,000 | 929 | ||||||
CIMB Group Holdings Bhd | 3,004 | 4,321 | ||||||
Dialog Group Bhd | 16,200 | 12,868 | ||||||
DiGi.Com Bhd | 13,441 | 15,039 | ||||||
FGV Holdings Bhd* | 1,917 | 528 | ||||||
Gamuda Bhd | 2,362 | 1,708 | ||||||
Genting Bhd | 6,319 | 11,452 | ||||||
Genting Malaysia Bhd | 5,236 | 4,507 | ||||||
HAP Seng Consolidated Bhd | 1,332 | 3,226 | ||||||
Hartalega Holdings Bhd | 6,400 | 7,869 | ||||||
Hong Leong Bank Bhd | 383 | 2,004 | ||||||
Hong Leong Financial Group Bhd | 418 | 2,025 | ||||||
IHH Healthcare Bhd | 2,979 | 4,198 | ||||||
IJM Corp. Bhd | 1,878 | 831 | ||||||
IOI Corp. Bhd | 3,587 | 3,961 | ||||||
KLCCP Stapled Group (c) | 3,200 | 6,169 | ||||||
Kuala Lumpur Kepong Bhd | 2,425 | 14,753 | ||||||
Malayan Banking Bhd | 1,045 | 2,449 | ||||||
Malaysia Airports Holdings Bhd | 3,265 | 6,560 | ||||||
Maxis Bhd | 6,216 | 8,208 | ||||||
MISC Bhd | 6,389 | 10,841 | ||||||
MMC Corp. Bhd | 2,174 | 572 | ||||||
Nestle Malaysia Bhd | 369 | 13,430 | ||||||
Petronas Chemicals Group Bhd | 8,829 | 20,018 | ||||||
Petronas Dagangan Bhd | 3,719 | 24,418 | ||||||
Petronas Gas Bhd | 3,177 | 14,125 | ||||||
PPB Group Bhd | 2,660 | 12,010 | ||||||
Press Metal Aluminium Holdings Bhd | 3,186 | 3,314 | ||||||
Public Bank Bhd | 935 | 5,748 | ||||||
RHB Bank Bhd | 2,431 | 3,384 | ||||||
RHB Bank Bhd*(b) | 400 | 0 | ||||||
Sime Darby Bhd | 97,847 | 52,214 | ||||||
Sime Darby Plantation Bhd | 3,615 | 4,534 | ||||||
Sime Darby Property Bhd | 8,543 | 2,206 | ||||||
Telekom Malaysia Bhd | 1,515 | 1,136 | ||||||
Tenaga Nasional Bhd | 5,501 | 18,154 | ||||||
Westports Holdings Bhd | 8,196 | 7,437 | ||||||
YTL Corp. Bhd | 30,828 | 8,036 | ||||||
YTL Power International Bhd | 39,788 | 8,708 | ||||||
|
| |||||||
347,075 | ||||||||
|
| |||||||
Mexico — 4.9% | ||||||||
ALEATICA SAB de CV | 785 | 790 |
See Notes to Financial Statements. | 26 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Emerging Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Mexico (Continued) | ||||||||
Alfa SAB de CV, Class A | 15,573 | $ | 17,739 | |||||
Alpek SAB de CV* | 3,356 | 4,929 | ||||||
Alsea SAB de CV | 3,506 | 8,881 | ||||||
America Movil SAB de CV, Series L | 10,987 | 7,914 | ||||||
Arca Continental SAB de CV | 131 | 739 | ||||||
Banco del Bajio SA, 144A | 3,132 | 6,050 | ||||||
Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand, Class B | 492 | 676 | ||||||
Becle SAB de CV | 619 | 871 | ||||||
Cemex SAB de CV, Series CPO* | 14,914 | 7,322 | ||||||
Coca-Cola Femsa SAB de CV, Series L | 902 | 5,458 | ||||||
Concentradora Fibra Danhos SA de CV REIT | 4,237 | 6,047 | ||||||
El Puerto de Liverpool SAB de CV, Class C1 | 1,044 | 6,551 | ||||||
Fibra Uno Administracion SA de CV REIT | 14,859 | 20,573 | ||||||
Fomento Economico Mexicano SAB de CV | 3,431 | 31,140 | ||||||
Gruma SAB de CV, Class B | 500 | 5,419 | ||||||
Grupo Aeroportuario del Centro Norte SAB de CV | 2,860 | 16,304 | ||||||
Grupo Aeroportuario del Pacifico SAB de CV, Class B | 1,140 | 10,625 | ||||||
Grupo Aeroportuario del Sureste SAB de CV, Class B | 239 | 4,055 | ||||||
Grupo Bimbo SAB de CV, Series A | 3,357 | 6,660 | ||||||
Grupo Carso SAB de CV, Series A1 | 1,500 | 5,556 | ||||||
Grupo Comercial Chedraui SA de CV | 8,522 | 16,686 | ||||||
Grupo Elektra SAB DE CV | 21 | 1,094 | ||||||
Grupo Financiero Banorte SAB de CV, Class O | 1,105 | 6,012 | ||||||
Grupo Financiero Inbursa SAB de CV, Class O | 4,446 | 6,636 | ||||||
Grupo Mexico SAB de CV, Series B | 2,918 | 7,313 | ||||||
Grupo Televisa SAB, Series CPO | 1,079 | 2,528 | ||||||
Industrias Bachoco SAB de CV, Series B | 2,438 | 9,469 | ||||||
Industrias Penoles SAB de CV | 55 | 729 | ||||||
Infraestructura Energetica Nova SAB de CV | 1,014 | 3,901 | ||||||
Kimberly-Clark de Mexico SAB de CV, Class A* | 3,734 | 6,036 | ||||||
Megacable Holdings SAB de CV, Series CPO | 3,566 | 16,294 | ||||||
Mexichem SAB de CV | 7,834 | 18,990 | ||||||
Nemak SAB de CV, 144A | 13,145 | 9,209 | ||||||
Organizacion Soriana SAB de CV, | 1,114 | 1,337 | ||||||
Promotora y Operadora de Infraestructura SAB de CV | 869 | 8,562 | ||||||
Regional SAB de CV | 1,075 | 5,592 | ||||||
Telesites SAB de CV* | 1,129 | 701 | ||||||
Wal-Mart de Mexico SAB de CV | 2,780 | 7,192 | ||||||
|
| |||||||
302,580 | ||||||||
|
| |||||||
Peru — 0.2% | ||||||||
Cia de Minas Buenaventura SAA, ADR (a) | 72 | 1,198 | ||||||
Credicorp Ltd. | 42 | 10,223 | ||||||
|
| |||||||
11,421 | ||||||||
|
|
Number | Value | |||||||
Philippines — 1.7% | ||||||||
Aboitiz Power Corp. | 9,180 | $ | 6,186 | |||||
Alliance Global Group, Inc. | 12,909 | 3,419 | ||||||
Ayala Corp. | 292 | 5,222 | ||||||
Ayala Land, Inc. | 6,462 | 5,497 | ||||||
Bank of the Philippine Islands | 1,279 | 2,077 | ||||||
BDO Unibank, Inc. | 821 | 2,026 | ||||||
Bloomberry Resorts Corp. | 1,894 | 418 | ||||||
DMCI Holdings, Inc. | 11,833 | 2,608 | ||||||
Energy Development Corp.*(b) | 8,122 | 1,079 | ||||||
Globe Telecom, Inc. | 85 | 3,123 | ||||||
GT Capital Holdings, Inc. | 415 | 7,663 | ||||||
International Container Terminal Services, Inc. | 2,099 | 4,708 | ||||||
Jollibee Foods Corp. | 1,804 | 10,736 | ||||||
LT Group, Inc. | 2,663 | 762 | ||||||
Manila Electric Co. | 2,883 | 20,491 | ||||||
Megaworld Corp. | 38,588 | 3,857 | ||||||
Metro Pacific Investments Corp. | 32,500 | 2,953 | ||||||
Metropolitan Bank & Trust Co. | 1,040 | 1,528 | ||||||
Petron Corp. | 18,145 | 2,340 | ||||||
PLDT, Inc. | 203 | 4,043 | ||||||
Semirara Mining & Power Corp. | 3,874 | 1,685 | ||||||
SM Investments Corp. | 273 | 4,962 | ||||||
SM Prime Holdings, Inc. | 4,815 | 3,570 | ||||||
Universal Robina Corp.* | 1,330 | 3,500 | ||||||
|
| |||||||
104,453 | ||||||||
|
| |||||||
Qatar — 2.0% | ||||||||
Al Meera Consumer Goods Co. QSC | 109 | 4,625 | ||||||
Barwa Real Estate Co.* | 2,243 | 24,395 | ||||||
Commercial Bank QSC | 292 | 3,216 | ||||||
Doha Bank QPSC | 423 | 2,382 | ||||||
Gulf International Services QSC* | 500 | 1,932 | ||||||
Industries Qatar QSC | 245 | 8,950 | ||||||
Masraf Al Rayan QSC | 510 | 5,169 | ||||||
Ooredoo QPSC | 353 | 6,495 | ||||||
Qatar Electricity & Water Co. QSC* | 423 | 20,505 | ||||||
Qatar Gas Transport Co. Ltd. | 2,160 | 11,865 | ||||||
Qatar International Islamic Bank QSC | 229 | 4,425 | ||||||
Qatar Islamic Bank SAQ | 168 | 6,700 | ||||||
Qatar National Bank QPSC | 92 | 4,755 | ||||||
Qatar Navigation QSC | 526 | 9,751 | ||||||
United Development Co. QSC | 1,630 | 6,196 | ||||||
Vodafone Qatar QSC* | 500 | 1,127 | ||||||
|
| |||||||
122,488 | ||||||||
|
| |||||||
Russia — 3.2% | ||||||||
Aeroflot PJSC | 1,062 | 1,565 | ||||||
Alrosa PJSC | 6,588 | 9,508 | ||||||
Federal Grid Co Unified Energy System PJSC | 313,925 | 796 | ||||||
Gazprom PJSC | 3,334 | 8,044 | ||||||
Inter RAO UES PJSC | 256,891 | 15,262 | ||||||
LUKOIL PJSC | 496 | 41,406 | ||||||
Magnitogorsk Iron & Steel Works PJSC | 9,871 | 6,666 | ||||||
MMC Norilsk Nickel PJSC | 1 | 214 | ||||||
Mobile TeleSystems PJSC | 6,056 | 23,251 |
See Notes to Financial Statements. | 27 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Emerging Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Russia (Continued) | ||||||||
Mosenergo PJSC | 28,003 | $ | 900 | |||||
Novatek PJSC | 259 | 4,246 | ||||||
Novolipetsk Steel PJSC | 2,678 | 6,439 | ||||||
PhosAgro PJSC | 46 | 1,784 | ||||||
Polyus PJSC, GDR | 13 | 533 | ||||||
Rostelecom PJSC | 18,316 | 20,263 | ||||||
RusHydro PJSC | 281,795 | 2,125 | ||||||
RussNeft PJSC* | 200 | 1,749 | ||||||
Sberbank of Russia PJSC | 463 | 1,460 | ||||||
Severstal PJSC | 799 | 12,474 | ||||||
Surgutneftegas PJSC | 23,668 | 9,227 | ||||||
Tatneft PJSC | 1,712 | 20,163 | ||||||
TMK PJSC | 908 | 666 | ||||||
Unipro PJSC | 297,763 | 12,246 | ||||||
|
| |||||||
200,987 | ||||||||
|
| |||||||
Singapore — 0.1% | ||||||||
Yanlord Land Group Ltd. | 4,598 | 4,730 | ||||||
|
| |||||||
South Africa — 11.2% | ||||||||
Absa Group Ltd. (a) | 920 | 11,817 | ||||||
AECI Ltd. | 1,916 | 13,341 | ||||||
African Rainbow Minerals Ltd. | 99 | 1,181 | ||||||
Anglo American Platinum Ltd. | 40 | 2,181 | ||||||
Aspen Pharmacare Holdings Ltd. | 313 | 3,104 | ||||||
Attacq Ltd. REIT | 1,055 | 1,180 | ||||||
AVI Ltd. | 2,996 | 19,080 | ||||||
Barloworld Ltd. | 1,202 | 10,781 | ||||||
Bid Corp. Ltd. | 295 | 6,183 | ||||||
Bidvest Group Ltd. (a) | 2,038 | 30,160 | ||||||
Capitec Bank Holdings Ltd. | 129 | 11,984 | ||||||
Clicks Group Ltd. | 1,966 | 25,262 | ||||||
Coronation Fund Managers Ltd. | 355 | 1,076 | ||||||
Dis-Chem Pharmacies Ltd., 144A | 637 | 1,169 | ||||||
Discovery Ltd. | 931 | 10,203 | ||||||
Exxaro Resources Ltd. | 325 | 3,507 | ||||||
Famous Brands Ltd.* | 292 | 1,869 | ||||||
FirstRand Ltd. (a) | 990 | 4,528 | ||||||
Foschini Group Ltd. | 924 | 11,290 | ||||||
Growthpoint Properties Ltd. REIT | 20,019 | 34,770 | ||||||
Hyprop Investments Ltd. REIT | 2,891 | 15,933 | ||||||
Imperial Logistics Ltd. | 769 | 3,524 | ||||||
Investec Ltd. | 747 | 4,865 | ||||||
JSE Ltd. | 420 | 4,825 | ||||||
KAP Industrial Holdings Ltd. | 14,582 | 8,141 | ||||||
Liberty Holdings Ltd. (a) | 591 | 4,329 | ||||||
Massmart Holdings Ltd. | 1,425 | 8,829 | ||||||
MMI Holdings Ltd.* | 2,007 | 2,227 | ||||||
Motus Holdings Ltd.* | 630 | 4,055 | ||||||
Mr Price Group Ltd. | 1,409 | 21,635 | ||||||
MTN Group Ltd. (a) | 2,036 | 12,094 | ||||||
MultiChoice Group Ltd.* | 6 | 45 | ||||||
Nampak Ltd.* | 888 | 723 | ||||||
Naspers Ltd., Class N | 6 | 1,300 | ||||||
Nedbank Group Ltd. (a) | 489 | 9,891 | ||||||
Netcare Ltd. | 9,024 | 16,328 | ||||||
Old Mutual Ltd. (a) | 5,903 | 9,761 | ||||||
Omnia Holdings Ltd. | 196 | 832 |
Number | Value | |||||||
South Africa (Continued) | ||||||||
Pepkor Holdings Ltd., 144A | 2,213 | $ | 3,145 | |||||
Pick n Pay Stores Ltd. | 9,257 | 45,646 | ||||||
Pioneer Foods Group Ltd. | 437 | 2,502 | ||||||
PSG Group Ltd. | 153 | 2,827 | ||||||
Rand Merchant Investment Holdings Ltd. | 4,358 | 10,312 | ||||||
Redefine Properties Ltd. REIT | 21,164 | 14,616 | ||||||
Remgro Ltd. | 721 | 10,318 | ||||||
Reunert Ltd. | 4,090 | 20,363 | ||||||
RMB Holdings Ltd. | 3,630 | 20,685 | ||||||
Sanlam Ltd. | 1,555 | 8,703 | ||||||
Santam Ltd. | 599 | 13,250 | ||||||
Sappi Ltd. | 1,861 | 9,563 | ||||||
Sasol Ltd. (a) | 160 | 4,892 | ||||||
Shoprite Holdings Ltd. (a) | 2,000 | 24,424 | ||||||
SPAR Group Ltd. | 4,767 | 67,708 | ||||||
Standard Bank Group Ltd. | 601 | 8,282 | ||||||
Super Group Ltd.* | 4,244 | 10,184 | ||||||
Telkom SA SOC Ltd. | 2,595 | 12,923 | ||||||
Tiger Brands Ltd. | 414 | 7,841 | ||||||
Tongaat Hulett Ltd. | 75 | 150 | ||||||
Truworths International Ltd. (a) | 2,811 | 14,609 | ||||||
Tsogo Sun Holdings Ltd. | 5,368 | 7,880 | ||||||
Vodacom Group Ltd. | 172 | 1,421 | ||||||
Vukile Property Fund Ltd. REIT | 22,348 | 31,980 | ||||||
Woolworths Holdings Ltd. (a) | 2,004 | 6,528 | ||||||
|
| |||||||
694,755 | ||||||||
|
| |||||||
Taiwan — 14.6% | ||||||||
Acer, Inc.* | 5,759 | 3,808 | ||||||
Advantech Co. Ltd. | 1,342 | 10,247 | ||||||
ASE Technology Holding Co. Ltd.* | 11,583 | 23,673 | ||||||
Asia Cement Corp. | 10,089 | 12,719 | ||||||
Asustek Computer, Inc. | 1,849 | 13,187 | ||||||
AU Optronics Corp. | 137,387 | 50,667 | ||||||
Capital Securities Corp. | 3,500 | 1,053 | ||||||
Catcher Technology Co. Ltd. | 1,590 | 12,089 | ||||||
Cathay Financial Holding Co. Ltd. | 2,666 | 3,924 | ||||||
Chailease Holding Co. Ltd. | 3,920 | 15,412 | ||||||
Chang Hwa Commercial Bank Ltd. | 3,198 | 1,922 | ||||||
Cheng Shin Rubber Industry Co. Ltd. | 1,399 | 1,989 | ||||||
Chicony Electronics Co. Ltd. | 11,158 | 24,653 | ||||||
China Airlines Ltd. | 10,563 | 3,484 | ||||||
China Development Financial Holding Corp. | 37,196 | 12,050 | ||||||
China Life Insurance Co. Ltd. | 7,515 | 7,020 | ||||||
China Motor Corp. | 11,552 | 9,083 | ||||||
China Steel Corp. | 28,058 | 23,248 | ||||||
Chunghwa Telecom Co. Ltd. | 3,285 | 11,421 | ||||||
Compal Electronics, Inc. | 22,542 | 13,990 | ||||||
CTBC Financial Holding Co. Ltd. | 17,181 | 11,639 | ||||||
Delta Electronics, Inc. | 1,586 | 7,910 | ||||||
E.Sun Financial Holding Co. Ltd. | 5,225 | 3,752 | ||||||
Eclat Textile Co. Ltd. | 268 | 3,070 | ||||||
Epistar Corp. | 1,107 | 982 | ||||||
Eternal Materials Co. Ltd. | 8,332 | 6,917 | ||||||
Eva Airways Corp. | 19,295 | 9,686 | ||||||
Evergreen Marine Corp. Taiwan Ltd. | 6,285 | 2,542 |
See Notes to Financial Statements. | 28 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Emerging Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Taiwan (Continued) | ||||||||
Far Eastern International Bank | 3,399 | $ | 1,193 | |||||
Far Eastern New Century Corp. | 13,308 | 13,188 | ||||||
Far EasTone Telecommunications Co. Ltd. | 6,455 | 15,122 | ||||||
Feng Hsin Steel Co. Ltd. | 12,111 | 23,296 | ||||||
Feng TAY Enterprise Co. Ltd. | 1,640 | 10,311 | ||||||
First Financial Holding Co. Ltd. | 5,454 | 3,686 | ||||||
Formosa Chemicals & Fibre Corp. | 7,178 | 24,606 | ||||||
Formosa Petrochemical Corp. | 840 | 3,180 | ||||||
Formosa Plastics Corp. | 6,773 | 22,557 | ||||||
Formosa Taffeta Co. Ltd. | 7,529 | 8,697 | ||||||
Foxconn Technology Co. Ltd. | 5,325 | 10,918 | ||||||
Fubon Financial Holding Co. Ltd. | 3,352 | 4,956 | ||||||
Giant Manufacturing Co. Ltd. | 554 | 3,051 | ||||||
Globalwafers Co. Ltd. | 200 | 2,177 | ||||||
Hon Hai Precision Industry Co. Ltd. | 484 | 1,143 | ||||||
Hua Nan Financial Holdings Co. Ltd. | 4,809 | 2,953 | ||||||
Innolux Corp. | 52,959 | 17,638 | ||||||
Inventec Corp. | 11,162 | 8,632 | ||||||
Largan Precision Co. Ltd. | 11 | 1,558 | ||||||
Lite-On Technology Corp. | 14,907 | 21,578 | ||||||
MediaTek, Inc. | 290 | 2,638 | ||||||
Mega Financial Holding Co. Ltd. | 6,305 | 5,583 | ||||||
Nan Ya Plastics Corp. | 9,450 | 23,612 | ||||||
Nanya Technology Corp. | 519 | 1,049 | ||||||
Novatek Microelectronics Corp. | 8,706 | 48,372 | ||||||
Oriental Union Chemical Corp. | 17,861 | 15,205 | ||||||
Pegatron Corp. | 3,990 | 6,845 | ||||||
Pou Chen Corp. | 12,152 | 15,320 | ||||||
President Chain Store Corp. | 2,810 | 29,080 | ||||||
Quanta Computer, Inc. | 4,455 | 8,280 | ||||||
Realtek Semiconductor Corp. | 221 | 1,278 | ||||||
Shin Kong Financial Holding Co. Ltd. | 23,933 | 7,178 | ||||||
SinoPac Financial Holdings Co. Ltd. | 18,457 | 6,447 | ||||||
Synnex Technology International Corp. | 7,096 | 8,646 | ||||||
Taishin Financial Holding Co. Ltd. | 4,585 | 2,078 | ||||||
Taiwan Business Bank | 6,065 | 2,237 | ||||||
Taiwan Cement Corp. | 13,815 | 17,237 | ||||||
Taiwan Cooperative Financial Holding Co. Ltd. | 6,440 | 3,997 | ||||||
Taiwan Fertilizer Co. Ltd. | 8,162 | 11,934 | ||||||
Taiwan Glass Industry Corp. | 8,551 | 3,793 | ||||||
Taiwan High Speed Rail Corp. | 5,588 | 5,992 | ||||||
Taiwan Mobile Co. Ltd. | 3,276 | 11,709 | ||||||
Taiwan Secom Co. Ltd. | 2,984 | 8,377 | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd. | 484 | 3,759 | ||||||
Teco Electric and Machinery Co. Ltd. | 8,343 | 5,164 | ||||||
Transcend Information, Inc. | 4,329 | 9,677 | ||||||
U-Ming Marine Transport Corp. | 805 | 804 | ||||||
Unimicron Technology Corp. | 8,321 | 6,516 | ||||||
Uni-President Enterprises Corp. | 9,793 | 23,865 | ||||||
United Microelectronics Corp. | 100,683 | 37,458 | ||||||
Vanguard International Semiconductor Corp. | 4,703 | 10,590 | ||||||
Walsin Lihwa Corp. | 55,445 | 32,698 | ||||||
Wan Hai Lines Ltd. | 6,636 | 3,439 | ||||||
Wistron Corp. | 11,464 | 7,953 |
Number | Value | |||||||
Taiwan (Continued) | ||||||||
Yuanta Financial Holding Co. Ltd. | 22,945 | $ | 13,010 | |||||
Yulon Nissan Motor Co. Ltd. | 242 | 1,879 | ||||||
|
| |||||||
906,276 | ||||||||
|
| |||||||
Thailand — 6.1% | ||||||||
Advanced Info Service PCL, NVDR | 1,546 | $ | 8,929 | |||||
Airports of Thailand PCL, NVDR | 2,310 | 4,948 | ||||||
Bangkok Bank PCL | 380 | 2,520 | ||||||
Bangkok Dusit Medical Services PCL, NVDR | 11,166 | 8,362 | ||||||
Bangkok Life Assurance PCL, NVDR | 503 | 455 | ||||||
Banpu PCL, NVDR | 29,335 | 15,174 | ||||||
Berli Jucker PCL, NVDR | 2,800 | 4,398 | ||||||
BTS Group Holdings PCL, NVDR | 16,077 | 5,306 | ||||||
Bumrungrad Hospital PCL, NVDR | 741 | 4,385 | ||||||
Central Pattana PCL, NVDR | 7,816 | 18,726 | ||||||
Charoen Pokphand Foods PCL, NVDR | 6,536 | 5,444 | ||||||
CP ALL PCL, NVDR | 5,332 | 13,155 | ||||||
Delta Electronics Thailand PCL, NVDR | 1,668 | 3,838 | ||||||
Electricity Generating PCL, NVDR | 1,897 | 16,073 | ||||||
Energy Absolute PCL, NVDR | 1,100 | 1,667 | ||||||
Glow Energy PCL, NVDR | 4,813 | 13,899 | ||||||
Home Product Center PCL, NVDR | 29,477 | 14,031 | ||||||
Indorama Ventures PCL, NVDR | 5,428 | 8,871 | ||||||
Intouch Holdings PCL, NVDR | 11,612 | 20,451 | ||||||
IRPC PCL, NVDR | 107,617 | 20,149 | ||||||
Kasikornbank PCL | 254 | 1,596 | ||||||
Kasikornbank PCL, NVDR | 158 | 990 | ||||||
Krung Thai Bank PCL, NVDR | 8,798 | 5,388 | ||||||
Land & Houses PCL, NVDR | 89,121 | 29,695 | ||||||
Minor International PCL, NVDR | 5,902 | 7,258 | ||||||
PTT Exploration & Production PCL, NVDR | 2,179 | 8,609 | ||||||
PTT Global Chemical PCL, NVDR | 15,402 | 35,191 | ||||||
PTT PCL, NVDR | 9,840 | 15,144 | ||||||
Ratchaburi Electricity Generating Holding PCL, NVDR | 9,446 | 16,262 | ||||||
Siam Cement PCL | 1,196 | 17,990 | ||||||
Siam Cement PCL, NVDR | 700 | 10,529 | ||||||
Siam City Cement PCL, NVDR | 117 | 828 | ||||||
Siam Commercial Bank PCL, NVDR | 1,340 | 5,698 | ||||||
Thai Oil PCL, NVDR | 10,570 | 24,234 | ||||||
Thai Union Group PCL, NVDR | 8,139 | 4,778 | ||||||
TMB Bank PCL, NVDR | 64,677 | 4,680 | ||||||
Total Access Communication PCL, NVDR | 1,646 | 2,651 | ||||||
|
| |||||||
382,302 | ||||||||
|
| |||||||
Turkey — 3.3% | ||||||||
Anadolu Efes Biracilik Ve Malt Sanayii AS | 1,121 | 4,216 | ||||||
Arcelik AS | 75 | 293 | ||||||
Aselsan Elektronik Sanayi Ve Ticaret AS | 480 | 2,206 | ||||||
BIM Birlesik Magazalar AS | 762 | 12,243 | ||||||
Coca-Cola Icecek AS | 162 | 1,020 | ||||||
Emlak Konut Gayrimenkul Yatirim Ortakligi AS REIT | 1,982 | 569 | ||||||
Enerjisa Enerji AS, 144A | 2,532 | 2,687 | ||||||
Enka Insaat ve Sanayi AS | 4,460 | 4,181 | ||||||
Eregli Demir ve Celik Fabrikalari TAS | 9,015 | 15,752 | ||||||
Ford Otomotiv Sanayi AS | 847 | 8,805 |
See Notes to Financial Statements. | 29 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Emerging Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Turkey (Continued) | ||||||||
Haci Omer Sabanci Holding AS | 800 | $ | 1,369 | |||||
KOC Holding AS | 2,434 | 8,506 | ||||||
Petkim Petrokimya Holding AS | 10,785 | 11,141 | ||||||
Soda Sanayii AS | 5,080 | 7,257 | ||||||
TAV Havalimanlari Holding AS | 1,021 | 5,325 | ||||||
Tekfen Holding AS | 4,576 | 22,648 | ||||||
Tofas Turk Otomobil Fabrikasi AS | 532 | 2,112 | ||||||
Tupras Turkiye Petrol Rafinerileri AS | 1,629 | 43,825 | ||||||
Turk Hava Yollari AO* | 7,177 | 19,026 | ||||||
Turk Telekomunikasyon AS* | 1,050 | 1,069 | ||||||
Turkcell Iletisim Hizmetleri AS | 6,577 | 17,632 | ||||||
Turkiye Garanti Bankasi AS | 263 | 440 | ||||||
Turkiye Sise ve Cam Fabrikalari AS | 8,971 | 11,336 | ||||||
Ulker Biskuvi Sanayi AS | 182 | 661 | ||||||
|
| |||||||
204,319 | ||||||||
|
| |||||||
United Arab Emirates — 0.9% | ||||||||
Abu Dhabi Commercial Bank PJSC | 2,087 | 5,415 | ||||||
Abu Dhabi National Oil Co. for Distribution PJSC | 5,769 | 3,503 | ||||||
Air Arabia PJSC | 32,316 | 8,341 | ||||||
Al Waha Capital PJSC | 8,000 | 3,158 | ||||||
Aldar Properties PJSC | 14,773 | 7,159 | ||||||
Dana Gas PJSC | 4,260 | 1,040 | ||||||
DP World Ltd. | 141 | 2,257 | ||||||
Dubai Investments PJSC | 4,249 | 1,481 | ||||||
Dubai Islamic Bank PJSC | 1,944 | 2,763 | ||||||
Emaar Development PJSC | 6,093 | 6,470 | ||||||
Emaar Malls PJSC | 7,670 | 3,654 | ||||||
Emaar Properties PJSC | 1,820 | 2,428 | ||||||
Emirates Telecommunications Group Co. PJSC | 877 | 4,030 | ||||||
First Abu Dhabi Bank PJSC | 506 | 2,094 | ||||||
|
| |||||||
53,793 | ||||||||
|
| |||||||
United Kingdom — 0.4% | ||||||||
Mondi Ltd. | 971 | 22,874 | ||||||
|
| |||||||
TOTAL COMMON STOCKS | 5,957,642 | |||||||
|
| |||||||
PREFERRED STOCKS — 3.1% | ||||||||
Brazil — 1.9% | ||||||||
Alpargatas SA | 401 | 2,051 | ||||||
Banco Bradesco SA | 53 | 611 | ||||||
Banco do Estado do Rio Grande do Sul SA, Class B | 374 | 2,493 | ||||||
Bradespar SA | 523 | 4,019 | ||||||
Braskem SA, Class A | 522 | 7,572 | ||||||
Cia Brasileira de Distribuicao | 1,078 | 26,764 | ||||||
Cia de Gas de Sao Paulo — COMGAS, Class A | 435 | 9,405 | ||||||
Cia de Transmissao de Energia Eletrica Paulista | 97 | 1,997 | ||||||
Cia Energetica de Minas Gerais | 1,644 | 6,312 | ||||||
Cia Paranaense de Energia, Class B | 22 | 210 | ||||||
Gerdau SA | 176 | 710 | ||||||
Itau Unibanco Holding SA | 687 | 6,454 |
Number | Value | |||||||
Brazil (Continued) | ||||||||
Itausa - Investimentos Itau SA | 11,803 | $ | 38,932 | |||||
Telefonica Brasil SA | 1,040 | 12,976 | ||||||
|
| |||||||
120,506 | ||||||||
|
| |||||||
Chile — 0.2% | ||||||||
Embotelladora Andina SA, Class B | 1,382 | 5,181 | ||||||
Sociedad Quimica y Minera de Chile SA, Class B | 116 | 4,827 | ||||||
|
| |||||||
10,008 | ||||||||
|
| |||||||
Colombia — 0.1% | ||||||||
Bancolombia SA | 404 | 4,870 | ||||||
Grupo Aval Acciones y Valores SA | 12,742 | 4,863 | ||||||
|
| |||||||
9,733 | ||||||||
|
| |||||||
Russia — 0.9% | ||||||||
Bashneft PJSC | 417 | 11,751 | ||||||
Surgutneftegas PJSC | 40,669 | 24,795 | ||||||
Tatneft PJSC | 555 | 4,620 | ||||||
Transneft PJSC | 5 | 12,944 | ||||||
|
| |||||||
54,110 | ||||||||
|
| |||||||
TOTAL PREFERRED STOCKS | 194,357 | |||||||
|
| |||||||
RIGHTS — 0.0% | ||||||||
Taiwan — 0.0% | ||||||||
CTBC Financial Holding Co. Ltd.*, | 115 | 0 | ||||||
|
| |||||||
WARRANT — 0.0% | ||||||||
Thailand — 0.0% | ||||||||
BTS Group Holdings PCL, NVDR*, | 1,786 | 41 | ||||||
|
| |||||||
EXCHANGE-TRADED FUNDS — 0.9% |
| |||||||
Global X MSCI Pakistan ETF (a) | 2,800 | 24,892 | ||||||
iShares Core MSCI Emerging Markets ETF | 340 | 17,381 | ||||||
Vanguard FTSE Emerging Markets ETF | 225 | 9,364 | ||||||
|
| |||||||
TOTAL EXCHANGE-TRADED FUNDS | 51,637 | |||||||
|
| |||||||
SECURITIES LENDING COLLATERAL — 2.9% |
| |||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares” , 2.31% (d)(e) | 179,047 | 179,047 | ||||||
|
| |||||||
CASH EQUIVALENTS — 0.0% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 2.38% (d) | 1,671 | 1,671 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 102.7% (Cost $6,271,020) | $ | 6,384,395 | ||||||
Other assets and liabilities, net — (2.7%) | (166,652 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 6,217,743 | ||||||
|
|
See Notes to Financial Statements. | 30 |
DBX ETF Trust
Schedule of Investments
Xtrackers FTSE Emerging Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2019 is as follows:
Value ($) at 8/31/2018 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2019 | Value ($) at 2/28/2019 | ||||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL —2.9% | ||||||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 2.31% (d)(e) | ||||||||||||||||||||||||||||||||||||||
90,527 | 88,520 | (f) | — | — | — | 215 | — | 179,047 | 179,047 | |||||||||||||||||||||||||||||
CASH EQUIVALENTS —0.0% | ||||||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 2.38% (d) | ||||||||||||||||||||||||||||||||||||||
— | 127,781 | (126,110 | ) | — | — | 25 | — | 1,671 | 1,671 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||
90,527 | 216,301 | (126,110 | ) | — | — | 240 | — | 180,718 | 180,718 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* | Non-income producing security. |
(a) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2019 amounted to $167,536, which is 2.7% 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 annualizedseven-day yield at period end. |
(e) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund heldnon-cash U.S. Treasury securities collateral having a value of $32,748. |
(f) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2019. |
ADR: | American Depositary Receipt |
CPO: | Ordinary Participation Certificates |
GDR: | Global Depositary Receipt |
NVDR: | Non Voting Depositary Receipt |
PJSC: | Public Joint Stock Company |
QSC: | Qatari Shareholders Company |
REIT: | Real Estate Investment Trust |
144A: | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2019 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) | $ | 5,955,776 | $ | — | $ | 1,866 | $ | 5,957,642 | ||||||||
Preferred Stocks (g) | 194,357 | — | — | 194,357 | ||||||||||||
Rights | 0 | — | — | 0 | ||||||||||||
Warrant | 41 | — | — | 41 | ||||||||||||
Exchange-Traded Funds | 51,637 | — | — | 51,637 | ||||||||||||
Short-Term Investments (g) | 180,718 | — | — | 180,718 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 6,382,529 | $ | — | $ | 1,866 | $ | 6,384,395 | ||||||||
|
|
|
|
|
|
|
|
(g) | See Schedule of Investments for additional detailed categorizations. |
During the period ended February 28, 2019, the amount of transfers between Level 1 and Level 3 was $1,069.The investments were transferred from Level 1 to Level 3 due to the lack of observable market data due to a decrease in market activity.
See Notes to Financial Statements. | 31 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 Comprehensive Factor ETF
February 28, 2019 (Unaudited)
Number | Value | |||||||
COMMON STOCKS — 99.6% | ||||||||
Communication Services — 3.1% | ||||||||
Activision Blizzard, Inc. | 797 | $ | 33,586 | |||||
Alphabet, Inc., Class A* | 33 | 37,176 | ||||||
Alphabet, Inc., Class C* | 24 | 26,878 | ||||||
AMC Networks, Inc., Class A*(a) | 2,478 | 162,829 | ||||||
AT&T, Inc. | 1,403 | 43,661 | ||||||
Cable One, Inc. (a) | 100 | 94,899 | ||||||
CBS Corp., Class B | 5,546 | 278,465 | ||||||
CenturyLink, Inc. (a) | 4,084 | 53,868 | ||||||
Charter Communications, Inc., Class A* | 479 | 165,212 | ||||||
Cinemark Holdings, Inc. (a) | 7,724 | 290,654 | ||||||
Comcast Corp., Class A | 2,794 | 108,044 | ||||||
Discovery, Inc., Class A* | 2,933 | 84,764 | ||||||
Discovery, Inc., Class C* | 4,473 | 121,889 | ||||||
Electronic Arts, Inc.* | 1,105 | 105,837 | ||||||
IAC/InterActiveCorp* | 329 | 70,093 | ||||||
Interpublic Group of Companies, Inc. (a) | 46,037 | 1,060,232 | ||||||
John Wiley & Sons, Inc., Class A | 3,588 | 186,181 | ||||||
Liberty Broadband Corp., Class A* | 121 | 10,808 | ||||||
Liberty Broadband Corp., Class C* | 614 | 54,953 | ||||||
Liberty Media Corp-Liberty SiriusXM, Class A* | 2,024 | 82,782 | ||||||
Liberty Media Corp-Liberty SiriusXM, Class C* | 4,180 | 172,258 | ||||||
Live Nation Entertainment, Inc.*(a) | 5,203 | 294,282 | ||||||
Madison Square Garden Co., Class A* | 854 | 246,072 | ||||||
News Corp., Class A | 2,938 | 38,253 | ||||||
News Corp., Class B | 1,547 | 20,591 | ||||||
Omnicom Group, Inc. (a) | 13,259 | 1,003,706 | ||||||
Sirius XM Holdings, Inc. (a) | 25,580 | 151,689 | ||||||
Take-Two Interactive Software, Inc.* | 632 | 55,148 | ||||||
Telephone & Data Systems, Inc. | 6,321 | 202,588 | ||||||
T-Mobile US, Inc.* | 1,804 | 130,267 | ||||||
Tribune Media Co., Class A | 351 | 16,227 | ||||||
TripAdvisor, Inc.*(a) | 215 | 11,431 | ||||||
Twenty-First Century Fox, Inc., Class A | 2,401 | 121,082 | ||||||
Twenty-First Century Fox, Inc., Class B | 1,184 | 59,389 | ||||||
United States Cellular Corp.* | 284 | 13,260 | ||||||
Verizon Communications, Inc. | 1,842 | 104,847 | ||||||
Viacom, Inc., Class B | 5,811 | 169,797 | ||||||
Walt Disney Co. | 2,031 | 229,178 | ||||||
Zayo Group Holdings, Inc.* | 652 | 16,170 | ||||||
|
| |||||||
6,129,046 | ||||||||
|
| |||||||
Consumer Discretionary — 15.7% | ||||||||
Advance Auto Parts, Inc. | 2,522 | 408,009 | ||||||
Aptiv PLC | 2,068 | 171,871 | ||||||
Aramark | 2,485 | 75,296 | ||||||
AutoNation, Inc.*(a) | 481 | 16,960 | ||||||
AutoZone, Inc.* | 1,584 | 1,487,328 | ||||||
Best Buy Co., Inc. | 6,437 | 443,123 | ||||||
Booking Holdings, Inc.* | 79 | 134,066 | ||||||
BorgWarner, Inc. | 3,063 | 124,388 | ||||||
Bright Horizons Family Solutions, Inc.* | 2,066 | 256,184 | ||||||
Brunswick Corp. | 5,792 | 305,470 | ||||||
Burlington Stores, Inc.* | 1,728 | 293,311 | ||||||
Capri Holdings Ltd.* | 527 | 24,031 |
Number | Value | |||||||
Consumer Discretionary (Continued) | ||||||||
CarMax, Inc.*(a) | 1,605 | $ | 99,671 | |||||
Carnival Corp. | 6,238 | 360,307 | ||||||
Carter’s, Inc. (a) | 1,543 | 150,350 | ||||||
Chipotle Mexican Grill, Inc.* | 480 | 291,614 | ||||||
Choice Hotels International, Inc. (a) | 2,126 | 169,740 | ||||||
Columbia Sportswear Co. | 1,406 | 144,748 | ||||||
D.R. Horton, Inc. | 1,673 | 65,063 | ||||||
Darden Restaurants, Inc. | 12,345 | 1,383,998 | ||||||
Dick’s Sporting Goods, Inc. (a) | 7,396 | 288,888 | ||||||
Dollar General Corp. | 8,861 | 1,049,674 | ||||||
Dollar Tree, Inc.* | 1,411 | 135,922 | ||||||
Domino’s Pizza, Inc. (a) | 1,884 | 472,771 | ||||||
Dunkin’ Brands Group, Inc. (a) | 3,210 | 229,355 | ||||||
eBay, Inc. | 4,316 | 160,339 | ||||||
Expedia Group, Inc. | 1,110 | 136,874 | ||||||
Extended Stay America, Inc. | 5,239 | 95,559 | ||||||
Foot Locker, Inc. | 6,720 | 399,974 | ||||||
Ford Motor Co. | 11,598 | 101,714 | ||||||
frontdoor, Inc.* | 9,933 | 317,856 | ||||||
Gap, Inc. (a) | 2,434 | 61,824 | ||||||
Garmin Ltd. | 7,008 | 588,462 | ||||||
Garrett Motion, Inc.* | 10,891 | 182,315 | ||||||
General Motors Co. | 4,378 | 172,843 | ||||||
Gentex Corp. (a) | 35,695 | 726,036 | ||||||
Genuine Parts Co. | 2,340 | 254,545 | ||||||
Goodyear Tire & Rubber Co. | 2,007 | 39,698 | ||||||
Graham Holdings Co., Class B (a) | 447 | 305,618 | ||||||
Grand Canyon Education, Inc.* | 3,582 | 414,366 | ||||||
H&R Block, Inc. (a) | 20,505 | 495,196 | ||||||
Hanesbrands, Inc. (a) | 5,147 | 95,683 | ||||||
Harley-Davidson, Inc. (a) | 3,486 | 129,400 | ||||||
Hasbro, Inc. (a) | 7,036 | 597,356 | ||||||
Hilton Grand Vacations, Inc.* | 622 | 19,773 | ||||||
Hilton Worldwide Holdings, Inc. | 1,608 | 133,625 | ||||||
Home Depot, Inc. | 725 | 134,227 | ||||||
Hyatt Hotels Corp., Class A | 2,252 | 163,878 | ||||||
Kohl’s Corp. | 6,918 | 467,173 | ||||||
L Brands, Inc. | 824 | 21,539 | ||||||
Las Vegas Sands Corp. | 990 | 60,816 | ||||||
Lear Corp. | 2,050 | 311,744 | ||||||
Leggett & Platt, Inc. (a) | 5,084 | 230,915 | ||||||
Lennar Corp., Class A | 468 | 22,455 | ||||||
LKQ Corp.* | 1,776 | 49,195 | ||||||
Lowe’s Cos., Inc. | 5,527 | 580,832 | ||||||
Lululemon Athletica, Inc.* | 574 | 86,341 | ||||||
Macy’s, Inc. (a) | 6,523 | 161,705 | ||||||
Marriott International, Inc., Class A | 1,818 | 227,741 | ||||||
McDonald’s Corp. | 714 | 131,262 | ||||||
MGM Resorts International | 1,687 | 45,127 | ||||||
Michaels Cos., Inc.*(a) | 1,225 | 17,322 | ||||||
Newell Brands, Inc. (a) | 1,534 | 24,897 | ||||||
NIKE, Inc., Class B | 4,795 | 411,075 | ||||||
Nordstrom, Inc. (a) | 7,392 | 349,494 | ||||||
Norwegian Cruise Line Holdings Ltd.* | 2,899 | 160,981 | ||||||
NVR, Inc.* | 49 | 128,380 | ||||||
O’Reilly Automotive, Inc.* | 2,526 | 939,571 | ||||||
Penske Automotive Group, Inc. (a) | 496 | 22,042 |
See Notes to Financial Statements. | 32 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Consumer Discretionary (Continued) | ||||||||
Polaris Industries, Inc. (a) | 875 | $ | 74,576 | |||||
Pool Corp. (a) | 2,576 | 410,975 | ||||||
PulteGroup, Inc. | 5,171 | 139,617 | ||||||
PVH Corp. | 796 | 91,413 | ||||||
Qurate Retail, Inc.* | 2,345 | 42,233 | ||||||
Ralph Lauren Corp. | 3,604 | 451,113 | ||||||
Ross Stores, Inc. | 11,732 | 1,112,546 | ||||||
Royal Caribbean Cruises Ltd. | 1,420 | 168,242 | ||||||
Service Corp. International | 9,378 | 387,687 | ||||||
ServiceMaster Global Holdings, Inc.* | 4,842 | 218,665 | ||||||
Six Flags Entertainment Corp. | 2,242 | 124,902 | ||||||
Starbucks Corp. | 15,960 | 1,121,350 | ||||||
Tapestry, Inc. | 7,704 | 269,178 | ||||||
Target Corp. | 22,061 | 1,602,511 | ||||||
Tiffany & Co. (a) | 5,889 | 559,691 | ||||||
TJX Cos., Inc. | 22,916 | 1,175,362 | ||||||
Toll Brothers, Inc. | 1,315 | 46,814 | ||||||
Tractor Supply Co. | 9,157 | 873,120 | ||||||
Ulta Beauty, Inc.* | 1,619 | 505,921 | ||||||
Urban Outfitters, Inc.* | 1,844 | 56,887 | ||||||
Vail Resorts, Inc. (a) | 1,618 | 337,175 | ||||||
VF Corp. | 5,271 | 460,475 | ||||||
Visteon Corp.*(a) | 411 | 35,206 | ||||||
Wendy’s Co. (a) | 2,983 | 51,695 | ||||||
Whirlpool Corp. | 600 | 84,906 | ||||||
Williams-Sonoma, Inc. (a) | 8,088 | 470,398 | ||||||
Wyndham Destinations, Inc. | 2,056 | 92,582 | ||||||
Wyndham Hotels & Resorts, Inc. | 4,745 | 249,445 | ||||||
Yum China Holdings, Inc. | 2,502 | 104,383 | ||||||
Yum! Brands, Inc. | 7,074 | 668,493 | ||||||
|
| |||||||
30,747,467 | ||||||||
|
| |||||||
Consumer Staples — 7.0% | ||||||||
Altria Group, Inc. | 1,736 | 90,984 | ||||||
Archer-Daniels-Midland Co. | 22,317 | 948,473 | ||||||
Brown-Forman Corp., Class A | 886 | 43,680 | ||||||
Brown-Forman Corp., Class B (a) | 2,407 | 119,122 | ||||||
Bunge Ltd. | 6,167 | 327,344 | ||||||
Campbell Soup Co. | 434 | 15,633 | ||||||
Casey’s General Stores, Inc. (a) | 3,845 | 518,075 | ||||||
Church & Dwight Co., Inc. | 5,540 | 364,532 | ||||||
Clorox Co. | 3,153 | 498,269 | ||||||
Coca-Cola Co. | 827 | 37,496 | ||||||
Colgate-Palmolive Co. | 3,899 | 256,827 | ||||||
Conagra Brands, Inc. (a) | 7,774 | 181,678 | ||||||
Constellation Brands, Inc., Class A | 840 | 142,094 | ||||||
Costco Wholesale Corp. | 3,477 | 760,559 | ||||||
Energizer Holdings, Inc. (a) | 801 | 36,750 | ||||||
Estee Lauder Cos., Inc., Class A | 4,747 | 744,994 | ||||||
Flowers Foods, Inc. (a) | 11,017 | 225,518 | ||||||
General Mills, Inc. | 2,139 | 100,811 | ||||||
Herbalife Nutrition Ltd.* | 1,543 | 86,562 | ||||||
Hershey Co. | 4,128 | 456,887 | ||||||
Hormel Foods Corp. (a) | 12,799 | 554,965 | ||||||
Ingredion, Inc. | 1,338 | 123,698 | ||||||
JM Smucker Co. | 3,740 | 396,103 | ||||||
Kellogg Co. | 4,722 | 265,660 |
Number | Value | |||||||
Consumer Staples (Continued) | ||||||||
Kimberly-Clark Corp. | 4,510 | $ | 526,903 | |||||
Kroger Co. | 32,578 | 955,513 | ||||||
Lamb Weston Holdings, Inc. | 5,784 | 400,889 | ||||||
McCormick & Co., Inc. (a) | 435 | 59,151 | ||||||
Molson Coors Brewing Co., Class B | 3,510 | 216,427 | ||||||
Mondelez International, Inc., Class A | 4,485 | 211,513 | ||||||
Monster Beverage Corp.* | 1,067 | 68,107 | ||||||
Nu Skin Enterprises, Inc., Class A | 616 | 37,028 | ||||||
PepsiCo, Inc. | 998 | 115,409 | ||||||
Philip Morris International, Inc. | 988 | 85,897 | ||||||
Post Holdings, Inc.* | 2,132 | 217,208 | ||||||
Procter & Gamble Co. | 1,227 | 120,921 | ||||||
Seaboard Corp. | 9 | 35,093 | ||||||
Sprouts Farmers Market, Inc.*(a) | 10,362 | 241,642 | ||||||
Sysco Corp. | 18,448 | 1,246,162 | ||||||
TreeHouse Foods, Inc.*(a) | 2,012 | 121,887 | ||||||
Tyson Foods, Inc., Class A | 2,889 | 178,136 | ||||||
US Foods Holding Corp.* | 21,321 | 751,352 | ||||||
Walgreens Boots Alliance, Inc. | 10,725 | 763,513 | ||||||
Walmart, Inc. | 664 | 65,729 | ||||||
|
| |||||||
13,715,194 | ||||||||
|
| |||||||
Energy — 2.1% | ||||||||
Anadarko Petroleum Corp. | 966 | 42,021 | ||||||
Antero Resources Corp.*(a) | 1,178 | 10,202 | ||||||
Apache Corp. (a) | 3,491 | 115,831 | ||||||
Apergy Corp.* | 2,884 | 121,070 | ||||||
Cabot Oil & Gas Corp. (a) | 2,286 | 56,281 | ||||||
Centennial Resource Development, Inc., Class A*(a) | 2,262 | 20,516 | ||||||
Cheniere Energy, Inc.* | 1,114 | 71,797 | ||||||
Chevron Corp. | 939 | 112,286 | ||||||
Cimarex Energy Co. | 1,030 | 74,067 | ||||||
Concho Resources, Inc. | 595 | 65,450 | ||||||
ConocoPhillips | 2,616 | 177,496 | ||||||
Devon Energy Corp. | 741 | 21,867 | ||||||
Diamondback Energy, Inc. | 400 | 41,172 | ||||||
EOG Resources, Inc. | 1,617 | 151,998 | ||||||
Equitrans Midstream Corp. | 1,468 | 25,896 | ||||||
Exxon Mobil Corp. | 828 | 65,437 | ||||||
Halliburton Co. | 1,738 | 53,339 | ||||||
Helmerich & Payne, Inc. | 1,315 | 71,273 | ||||||
HollyFrontier Corp. | 5,645 | 289,024 | ||||||
Kinder Morgan, Inc. | 2,401 | 46,003 | ||||||
Marathon Petroleum Corp. | 5,724 | 354,945 | ||||||
Murphy Oil Corp. (a) | 1,048 | 30,287 | ||||||
National Oilwell Varco, Inc. | 1,700 | 47,838 | ||||||
Noble Energy, Inc. (a) | 574 | 12,714 | ||||||
Occidental Petroleum Corp. | 5,470 | 361,841 | ||||||
ONEOK, Inc. | 1,214 | 78,012 | ||||||
PBF Energy, Inc., Class A | 2,663 | 82,739 | ||||||
Phillips 66 | 6,999 | 674,424 | ||||||
Pioneer Natural Resources Co. | 841 | 118,539 | ||||||
Schlumberger Ltd. | 969 | 42,694 | ||||||
Valero Energy Corp. | 8,336 | 679,884 | ||||||
|
| |||||||
4,116,943 | ||||||||
|
|
See Notes to Financial Statements. | 33 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Financials — 11.2% | ||||||||
Affiliated Managers Group, Inc. | 162 | $ | 17,757 | |||||
Aflac, Inc. | 8,208 | 403,341 | ||||||
AGNC Investment Corp. REIT | 8,780 | 154,967 | ||||||
Alleghany Corp. | 126 | 81,013 | ||||||
Allstate Corp. | 2,943 | 277,760 | ||||||
Ally Financial, Inc. | 3,695 | 100,098 | ||||||
American Express Co. | 2,024 | 218,066 | ||||||
American Financial Group, Inc. | 1,910 | 190,351 | ||||||
American National Insurance Co. | 314 | 46,218 | ||||||
Ameriprise Financial, Inc. | 356 | 46,860 | ||||||
Annaly Capital Management, Inc. REIT | 25,024 | 253,493 | ||||||
Aon PLC | 2,968 | 509,101 | ||||||
Arch Capital Group Ltd.* | 5,445 | 177,888 | ||||||
Arthur J Gallagher & Co. | 8,711 | 699,319 | ||||||
Associated Banc-Corp. | 2,445 | 56,920 | ||||||
Assurant, Inc. | 1,219 | 125,545 | ||||||
Assured Guaranty Ltd. | 15,416 | 643,772 | ||||||
Athene Holding, Ltd., Class A* | 2,375 | 105,806 | ||||||
AXA Equitable Holdings, Inc. (a) | 2,167 | 41,433 | ||||||
Bank of Hawaii Corp. (a) | 450 | 37,003 | ||||||
Bank of New York Mellon Corp. | 1,457 | 76,463 | ||||||
BankUnited, Inc. | 2,098 | 76,556 | ||||||
BB&T Corp. | 3,823 | 194,858 | ||||||
Berkshire Hathaway, Inc., Class B* | 223 | 44,890 | ||||||
BGC Partners, Inc., Class A | 5,847 | 35,842 | ||||||
BlackRock, Inc. | 36 | 15,956 | ||||||
BOK Financial Corp. | 264 | 23,876 | ||||||
Brown & Brown, Inc. | 11,371 | 336,809 | ||||||
Capital One Financial Corp. | 1,496 | 125,036 | ||||||
Cboe Global Markets, Inc. | 1,187 | 113,845 | ||||||
Charles Schwab Corp. | 386 | 17,760 | ||||||
Chimera Investment Corp. REIT (a) | 16,619 | 307,285 | ||||||
Chubb Ltd. | 921 | 123,322 | ||||||
Cincinnati Financial Corp. | 3,820 | 331,652 | ||||||
CIT Group, Inc. | 1,376 | 70,135 | ||||||
Citigroup, Inc. | 267 | 17,083 | ||||||
Citizens Financial Group, Inc. | 1,906 | 70,408 | ||||||
CME Group, Inc. | 484 | 88,044 | ||||||
CNA Financial Corp. | 973 | 42,053 | ||||||
Comerica, Inc. | 1,120 | 97,563 | ||||||
Commerce Bancshares, Inc. (a) | 1,667 | 104,904 | ||||||
Credit Acceptance Corp.* | 354 | 155,710 | ||||||
Cullen/Frost Bankers, Inc. (a) | 742 | 76,931 | ||||||
Discover Financial Services | 4,924 | 352,608 | ||||||
E*TRADE Financial Corp. | 1,438 | 70,448 | ||||||
East West Bancorp, Inc. | 870 | 47,511 | ||||||
Eaton Vance Corp. (a) | 4,244 | 177,611 | ||||||
Erie Indemnity Co., Class A | 2,253 | 401,530 | ||||||
Evercore, Inc., Class A | 3,576 | 329,350 | ||||||
Everest Re Group Ltd. | 1,124 | 254,148 | ||||||
FactSet Research Systems, Inc. (a) | 2,309 | 543,007 | ||||||
Fidelity National Financial, Inc. | 9,329 | 327,355 | ||||||
Fifth Third Bancorp | 4,446 | 122,621 | ||||||
First American Financial Corp. | 3,017 | 153,233 | ||||||
First Citizens BancShares, Inc., Class A | 117 | 51,080 | ||||||
First Hawaiian, Inc. | 457 | 12,321 | ||||||
First Horizon National Corp. (a) | 33 | 516 |
Number | Value | |||||||
Financials (Continued) | ||||||||
First Republic Bank (a) | 927 | $ | 97,316 | |||||
FNB Corp. (a) | 3,645 | 44,615 | ||||||
Franklin Resources, Inc. (a) | 8,148 | 265,706 | ||||||
Goldman Sachs Group, Inc. | 93 | 18,293 | ||||||
Hanover Insurance Group, Inc. | 1,842 | 218,664 | ||||||
Hartford Financial Services Group, Inc. | 1,448 | 71,473 | ||||||
Huntington Bancshares, Inc. | 10,728 | 154,590 | ||||||
Interactive Brokers Group, Inc., Class A (a) | 317 | 17,508 | ||||||
Intercontinental Exchange, Inc. | 1,771 | 136,633 | ||||||
Invesco Ltd. | 977 | 18,905 | ||||||
Jefferies Financial Group, Inc. | 7,994 | 162,038 | ||||||
KeyCorp | 5,994 | 105,854 | ||||||
Lazard Ltd., Class A | 4,249 | 159,040 | ||||||
Legg Mason, Inc. | 204 | 5,967 | ||||||
Lincoln National Corp. | 809 | 50,579 | ||||||
Loews Corp. | 4,723 | 224,909 | ||||||
LPL Financial Holdings, Inc. | 2,379 | 179,400 | ||||||
M&T Bank Corp. | 1,039 | 179,809 | ||||||
Markel Corp.* | 37 | 37,181 | ||||||
MarketAxess Holdings, Inc. (a) | 870 | 212,176 | ||||||
Marsh & McLennan Cos., Inc. | 8,086 | 752,160 | ||||||
Mercury General Corp. (a) | 1,815 | 96,141 | ||||||
MetLife, Inc. | 1,586 | 71,671 | ||||||
MFA Financial, Inc. REIT | 15,496 | 112,656 | ||||||
Moody’s Corp. | 1,555 | 269,202 | ||||||
Morgan Stanley | 72 | 3,023 | ||||||
Morningstar, Inc. | 1,673 | 211,735 | ||||||
MSCI, Inc. | 3,035 | 560,625 | ||||||
Nasdaq, Inc. | 3,915 | 358,497 | ||||||
Navient Corp. | 1,272 | 15,544 | ||||||
New Residential Investment Corp. REIT | 13,326 | 220,412 | ||||||
New York Community Bancorp, Inc. (a) | 2,991 | 37,417 | ||||||
Northern Trust Corp. | 983 | 91,616 | ||||||
Old Republic International Corp. | 22,208 | 463,259 | ||||||
PacWest Bancorp (a) | 1,341 | 55,008 | ||||||
People’s United Financial, Inc. (a) | 2,541 | 45,128 | ||||||
Pinnacle Financial Partners, Inc. (a) | 277 | 16,257 | ||||||
PNC Financial Services Group, Inc. | 585 | 73,722 | ||||||
Popular, Inc. | 2,034 | 114,677 | ||||||
Principal Financial Group, Inc. | 641 | 33,742 | ||||||
Progressive Corp. | 12,842 | 936,182 | ||||||
Prosperity Bancshares, Inc. (a) | 878 | 65,367 | ||||||
Prudential Financial, Inc. | 677 | 64,890 | ||||||
Raymond James Financial, Inc. | 2,400 | 198,192 | ||||||
Regions Financial Corp. | 5,910 | 96,924 | ||||||
Reinsurance Group of America, Inc. | 1,599 | 231,039 | ||||||
RenaissanceRe Holdings Ltd. | 190 | 27,939 | ||||||
S&P Global, Inc. | 2,678 | 536,591 | ||||||
Santander Consumer USA Holdings, Inc. (a) | 1,171 | 24,052 | ||||||
SEI Investments Co. | 2,130 | 112,357 | ||||||
Signature Bank | 227 | 30,817 | ||||||
SLM Corp.*(a) | 1,417 | 15,658 | ||||||
Starwood Property Trust, Inc. REIT | 2,377 | 53,316 | ||||||
State Street Corp. | 506 | 36,366 | ||||||
SunTrust Banks, Inc. | 2,519 | 163,408 |
See Notes to Financial Statements. | 34 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Financials (Continued) | ||||||||
SVB Financial Group* | 122 | $ | 30,153 | |||||
Synchrony Financial | 2,090 | 68,155 | ||||||
Synovus Financial Corp. | 628 | 24,919 | ||||||
T. Rowe Price Group, Inc. | 4,077 | 409,453 | ||||||
TCF Financial Corp. | 2,126 | 48,685 | ||||||
TD Ameritrade Holding Corp. | 1,528 | 86,072 | ||||||
Torchmark Corp. | 15,455 | 1,275,965 | ||||||
Travelers Cos., Inc. | 2,205 | 293,067 | ||||||
Two Harbors Investment Corp. REIT | 9,040 | 125,385 | ||||||
Umpqua Holdings Corp. | 2,393 | 43,505 | ||||||
Unum Group | 705 | 26,339 | ||||||
US Bancorp | 1,310 | 67,714 | ||||||
Voya Financial, Inc. | 594 | 30,039 | ||||||
W.R. Berkley Corp. | 3,784 | 316,569 | ||||||
Webster Financial Corp. | 1,188 | 68,215 | ||||||
Wells Fargo & Co. | 200 | 9,978 | ||||||
Western Alliance Bancorp* | 372 | 17,212 | ||||||
White Mountains Insurance Group Ltd. | 458 | 430,241 | ||||||
Willis Towers Watson PLC | 1,462 | 251,493 | ||||||
Wintrust Financial Corp. | 826 | 60,851 | ||||||
Zions Bancorp NA (a) | 1,477 | 75,475 | ||||||
|
| |||||||
21,892,762 | ||||||||
|
| |||||||
Health Care — 9.4% | ||||||||
Abbott Laboratories | 364 | 28,254 | ||||||
AbbVie, Inc. | 763 | 60,460 | ||||||
ABIOMED, Inc.* | 22 | 7,359 | ||||||
Acadia Healthcare Co., Inc.*(a) | 1,467 | 38,567 | ||||||
Agilent Technologies, Inc. | 2,998 | 238,161 | ||||||
Alexion Pharmaceuticals, Inc.* | 248 | 33,562 | ||||||
Align Technology, Inc.* | 282 | 73,030 | ||||||
Allergan PLC | 94 | 12,945 | ||||||
AmerisourceBergen Corp. | 5,862 | 488,305 | ||||||
Amgen, Inc. | 1,209 | 229,807 | ||||||
Anthem, Inc. | 1,422 | 427,638 | ||||||
Baxter International, Inc. | 5,602 | 418,637 | ||||||
Becton Dickinson and Co. | 83 | 20,650 | ||||||
Biogen, Inc.* | 376 | 123,332 | ||||||
Bio-Rad Laboratories, Inc., Class A* | 223 | 60,411 | ||||||
Bio-Techne Corp. | 1,337 | 259,244 | ||||||
Boston Scientific Corp.* | 6,307 | 253,037 | ||||||
Bristol-Myers Squibb Co. | 2,763 | 142,737 | ||||||
Bruker Corp. | 1,477 | 56,436 | ||||||
Cantel Medical Corp. | 505 | 37,128 | ||||||
Cardinal Health, Inc. | 7,804 | 424,069 | ||||||
Catalent, Inc.* | 937 | 40,497 | ||||||
Celgene Corp.* | 431 | 35,825 | ||||||
Centene Corp.* | 14,018 | 853,556 | ||||||
Cerner Corp.* | 4,685 | 262,126 | ||||||
Charles River Laboratories International, Inc.* | 1,799 | 255,764 | ||||||
Chemed Corp. | 1,325 | 436,587 | ||||||
Cigna Corp. | 5,173 | 902,378 | ||||||
Cooper Cos., Inc. | 1,212 | 346,620 | ||||||
Covetrus, Inc.*(a) | 2,968 | 106,195 | ||||||
CVS Health Corp. | 6,322 | 365,601 | ||||||
Danaher Corp. | 1,801 | 228,763 |
Number | Value | |||||||
Health Care (Continued) | ||||||||
DaVita, Inc.* | 1,158 | $ | 65,890 | |||||
Edwards Lifesciences Corp.* | 1,853 | 313,694 | ||||||
Elanco Animal Health, Inc.*(a) | 324 | 9,798 | ||||||
Eli Lilly & Co. | 1,337 | 168,850 | ||||||
Encompass Health Corp. | 5,024 | 317,215 | ||||||
Gilead Sciences, Inc. | 2,557 | 166,256 | ||||||
HCA Healthcare, Inc. | 3,913 | 544,063 | ||||||
Henry Schein, Inc.*(a) | 7,417 | 439,828 | ||||||
Hill-Rom Holdings, Inc. | 2,370 | 251,338 | ||||||
Hologic, Inc.* | 1,618 | 76,289 | ||||||
Humana, Inc. | 3,038 | 865,952 | ||||||
ICU Medical, Inc.* | 488 | 119,931 | ||||||
IDEXX Laboratories, Inc.* | 1,133 | 239,097 | ||||||
Illumina, Inc.* | 152 | 47,541 | ||||||
Integra LifeSciences Holdings Corp.* | 554 | 30,520 | ||||||
Intuitive Surgical, Inc.* | 352 | 192,759 | ||||||
IQVIA Holdings, Inc.* | 1,642 | 230,044 | ||||||
Jazz Pharmaceuticals PLC* | 947 | 132,608 | ||||||
Johnson & Johnson | 400 | 54,656 | ||||||
Laboratory Corp. of America Holdings* | 2,544 | 377,123 | ||||||
Masimo Corp.* | 1,706 | 223,964 | ||||||
McKesson Corp. | 2,065 | 262,585 | ||||||
MEDNAX, Inc.* | 1,645 | 54,137 | ||||||
Medtronic PLC | 1,418 | 128,329 | ||||||
Merck & Co., Inc. | 1,225 | 99,580 | ||||||
Mettler-Toledo International, Inc.* | 326 | 221,977 | ||||||
Molina Healthcare, Inc.*(a) | 755 | 101,646 | ||||||
Mylan N.V.* | 1,077 | 28,422 | ||||||
PerkinElmer, Inc. (a) | 1,255 | 118,171 | ||||||
Perrigo Co. PLC (a) | 276 | 13,441 | ||||||
Pfizer, Inc. | 1,912 | 82,885 | ||||||
PRA Health Sciences, Inc.* | 169 | 18,080 | ||||||
Premier, Inc., Class A* | 7,750 | 283,495 | ||||||
QIAGEN NV* | 2,518 | 96,767 | ||||||
Quest Diagnostics, Inc. | 5,419 | 469,014 | ||||||
Regeneron Pharmaceuticals, Inc.* | 104 | 44,797 | ||||||
ResMed, Inc. | 4,299 | 440,347 | ||||||
STERIS PLC | 2,582 | 312,319 | ||||||
Stryker Corp. | 967 | 182,289 | ||||||
Teleflex, Inc. (a) | 239 | 69,272 | ||||||
Thermo Fisher Scientific, Inc. | 462 | 119,921 | ||||||
United Therapeutics Corp.* | 929 | 117,323 | ||||||
UnitedHealth Group, Inc. | 356 | 86,230 | ||||||
Universal Health Services, Inc., Class B | 5,310 | 737,187 | ||||||
Varian Medical Systems, Inc.* | 4,141 | 556,385 | ||||||
Veeva Systems, Inc., Class A* | 388 | 45,749 | ||||||
Vertex Pharmaceuticals, Inc.* | 31 | 5,851 | ||||||
Waters Corp.* | 1,434 | 347,343 | ||||||
WellCare Health Plans, Inc.* | 1,642 | 416,378 | ||||||
West Pharmaceutical Services, Inc. | 3,520 | 368,720 | ||||||
Zimmer Biomet Holdings, Inc. | 1,334 | 165,576 | ||||||
Zoetis, Inc. | 3,897 | 367,214 | ||||||
|
| |||||||
18,496,527 | ||||||||
|
| |||||||
Industrials — 16.2% | ||||||||
3M Co. | 501 | 103,902 | ||||||
Acuity Brands, Inc. | 350 | 45,542 |
See Notes to Financial Statements. | 35 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Industrials (Continued) | ||||||||
ADT, Inc. | 6,373 | $ | 50,984 | |||||
AECOM*(a) | 4,101 | 126,967 | ||||||
AGCO Corp. | 1,313 | 88,733 | ||||||
Air Lease Corp. | 1,405 | 52,491 | ||||||
Alaska Air Group, Inc. (a) | 6,476 | 399,569 | ||||||
Allegion PLC | 2,568 | 231,017 | ||||||
Allison Transmission Holdings, Inc. | 12,607 | 626,568 | ||||||
AMERCO | 203 | 78,072 | ||||||
American Airlines Group, Inc. | 530 | 18,884 | ||||||
AMETEK, Inc. | 3,956 | 314,818 | ||||||
AO Smith Corp. | 2,336 | 121,308 | ||||||
Arconic, Inc. | 1,015 | 18,767 | ||||||
Arcosa, Inc. | 5,663 | 189,654 | ||||||
Armstrong World Industries, Inc. | 367 | 26,857 | ||||||
Boeing Co. | 443 | 194,902 | ||||||
BWX Technologies, Inc. (a) | 1,013 | 53,031 | ||||||
C.H. Robinson Worldwide, Inc. | 6,162 | 556,922 | ||||||
Carlisle Cos., Inc. | 1,483 | 182,528 | ||||||
Caterpillar, Inc. | 631 | 86,662 | ||||||
Cintas Corp. | 2,575 | 531,995 | ||||||
Clean Harbors, Inc.* | 2,196 | 149,328 | ||||||
Copart, Inc.*(a) | 9,548 | 560,181 | ||||||
CoStar Group, Inc.* | 469 | 214,582 | ||||||
Crane Co. | 2,897 | 244,999 | ||||||
CSX Corp. | 2,072 | 150,572 | ||||||
Cummins, Inc. | 3,626 | 558,730 | ||||||
Curtiss-Wright Corp. | 1,347 | 166,072 | ||||||
Deere & Co. | 1,043 | 171,094 | ||||||
Delta Air Lines, Inc. | 7,277 | 360,794 | ||||||
Donaldson Co., Inc. (a) | 7,850 | 404,981 | ||||||
Dover Corp. | 7,435 | 673,091 | ||||||
Eaton Corp. PLC | 5,945 | 474,233 | ||||||
Emerson Electric Co. | 8,488 | 578,457 | ||||||
Equifax, Inc. | 1,943 | 212,778 | ||||||
Expeditors International of Washington, Inc. | 11,076 | 830,146 | ||||||
Fastenal Co. (a) | 7,592 | 477,840 | ||||||
FedEx Corp. | 1,168 | 211,408 | ||||||
Flowserve Corp. (a) | 2,545 | 113,023 | ||||||
Fluor Corp. | 3,723 | 139,985 | ||||||
Fortive Corp. | 2,375 | 193,729 | ||||||
Fortune Brands Home & Security, Inc. | 1,221 | 57,533 | ||||||
General Dynamics Corp. | 2,285 | 388,953 | ||||||
Genesee & Wyoming, Inc., Class A* | 1,124 | 92,168 | ||||||
Graco, Inc. | 6,679 | 313,646 | ||||||
Harris Corp. | 1,855 | 305,945 | ||||||
HD Supply Holdings, Inc.* | 9,133 | 392,810 | ||||||
HEICO Corp. | 846 | 79,296 | ||||||
HEICO Corp., Class A | 1,233 | 98,628 | ||||||
Hexcel Corp. | 3,612 | 260,570 | ||||||
Honeywell International, Inc. | 1,054 | 162,390 | ||||||
Hubbell, Inc. | 1,288 | 152,048 | ||||||
Huntington Ingalls Industries, Inc. | 1,959 | 410,234 | ||||||
IDEX Corp. | 2,429 | 350,019 | ||||||
IHS Markit Ltd.* | 3,082 | 163,870 | ||||||
Illinois Tool Works, Inc. | 1,212 | 174,625 | ||||||
Ingersoll-Rand PLC | 9,166 | 967,563 |
Number | Value | |||||||
Industrials (Continued) | ||||||||
ITT, Inc. | 5,038 | $ | 290,995 | |||||
Jacobs Engineering Group, Inc. | 1,321 | 97,463 | ||||||
JB Hunt Transport Services, Inc. | 4,558 | 490,760 | ||||||
JetBlue Airways Corp.* | 9,456 | 157,915 | ||||||
Johnson Controls International PLC | 10,549 | 372,063 | ||||||
Kansas City Southern | 2,132 | 231,620 | ||||||
KAR Auction Services, Inc. | 7,772 | 366,450 | ||||||
Kirby Corp.*(a) | 4,671 | 346,682 | ||||||
L3 Technologies, Inc. | 1,416 | 299,838 | ||||||
Landstar System, Inc. | 2,980 | 323,866 | ||||||
Lennox International, Inc. | 1,438 | 352,669 | ||||||
Lincoln Electric Holdings, Inc. (a) | 1,831 | 158,235 | ||||||
Lockheed Martin Corp. | 957 | 296,105 | ||||||
Macquarie Infrastructure Corp. (a) | 503 | 20,568 | ||||||
ManpowerGroup, Inc. | 171 | 14,407 | ||||||
Masco Corp. | 2,729 | 102,501 | ||||||
Middleby Corp.*(a) | 645 | 79,071 | ||||||
MSC Industrial Direct Co., Inc., Class A | 3,356 | 283,280 | ||||||
Nielsen Holdings PLC | 1,885 | 49,387 | ||||||
Nordson Corp. (a) | 368 | 49,960 | ||||||
Norfolk Southern Corp. | 1,820 | 326,326 | ||||||
Northrop Grumman Corp. | 635 | 184,125 | ||||||
nVent Electric PLC | 11,872 | 326,243 | ||||||
Old Dominion Freight Line, Inc. | 1,972 | 297,318 | ||||||
Oshkosh Corp. | 996 | 77,499 | ||||||
Owens Corning | 337 | 16,826 | ||||||
PACCAR, Inc. | 5,919 | 401,308 | ||||||
Parker-Hannifin Corp. | 2,150 | 378,744 | ||||||
Pentair PLC | 7,626 | 324,410 | ||||||
Quanta Services, Inc. | 4,815 | 171,607 | ||||||
Raytheon Co. | 2,162 | 403,213 | ||||||
Regal Beloit Corp. | 2,214 | 185,445 | ||||||
Republic Services, Inc. | 5,087 | 398,973 | ||||||
Resideo Technologies, Inc.* | 12,047 | 309,608 | ||||||
Robert Half International, Inc. | 10,964 | 747,635 | ||||||
Rockwell Automation, Inc. | 2,379 | 424,794 | ||||||
Rollins, Inc. (a) | 4,697 | 186,283 | ||||||
Roper Technologies, Inc. | 894 | 289,343 | ||||||
Ryder System, Inc. | 450 | 27,972 | ||||||
Schneider National, Inc., Class B | 2,287 | 50,062 | ||||||
Sensata Technologies Holding PLC* | 3,126 | 158,582 | ||||||
Snap-on, Inc. (a) | 2,743 | 438,880 | ||||||
Southwest Airlines Co. | 4,509 | 252,684 | ||||||
Spirit AeroSystems Holdings, Inc., Class A | 4,436 | 438,277 | ||||||
Stanley Black & Decker, Inc. | 1,083 | 143,422 | ||||||
Stericycle, Inc.*(a) | 347 | 15,469 | ||||||
Teledyne Technologies, Inc.* | 868 | 204,883 | ||||||
Textron, Inc. | 7,084 | 384,661 | ||||||
Timken Co. | 1,155 | 50,115 | ||||||
Toro Co. | 6,513 | 446,662 | ||||||
TransDigm Group, Inc.* | 774 | 335,986 | ||||||
TransUnion | 1,932 | 124,730 | ||||||
Union Pacific Corp. | 1,287 | 215,830 | ||||||
United Continental Holdings, Inc.* | 2,214 | 194,411 | ||||||
United Parcel Service, Inc., Class B | 1,001 | 110,310 | ||||||
United Technologies Corp. | 1,454 | 182,724 |
See Notes to Financial Statements. | 36 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Industrials (Continued) | ||||||||
USG Corp. | 2,300 | $ | 99,153 | |||||
Valmont Industries, Inc. | 607 | 82,910 | ||||||
Verisk Analytics, Inc.* | 1,721 | 217,586 | ||||||
W.W. Grainger, Inc. (a) | 1,726 | 526,033 | ||||||
WABCO Holdings, Inc.* | 1,169 | 160,773 | ||||||
Wabtec Corp. | 1,331 | 97,509 | ||||||
Waste Management, Inc. | 8,527 | 863,359 | ||||||
Watsco, Inc. (a) | 1,611 | 231,807 | ||||||
WESCO International, Inc.* | 567 | 30,873 | ||||||
Xylem, Inc. | 4,831 | 364,982 | ||||||
|
| |||||||
31,640,674 | ||||||||
|
| |||||||
Information Technology — 15.5% | ||||||||
Accenture PLC, Class A | 2,314 | 373,433 | ||||||
Adobe, Inc.* | 675 | 177,187 | ||||||
Akamai Technologies, Inc.* | 4,275 | 297,797 | ||||||
Alliance Data Systems Corp. | 570 | 98,610 | ||||||
Amdocs Ltd. | 10,833 | 601,990 | ||||||
Amphenol Corp., Class A | 4,067 | 382,176 | ||||||
Analog Devices, Inc. | 4,416 | 472,335 | ||||||
ANSYS, Inc.* | 2,623 | 464,953 | ||||||
Apple, Inc. | 1,725 | 298,684 | ||||||
Applied Materials, Inc. | 3,027 | 116,055 | ||||||
Arista Networks, Inc.* | 127 | 36,227 | ||||||
ARRIS International PLC* | 3,140 | 99,475 | ||||||
Arrow Electronics, Inc.* | 2,010 | 160,197 | ||||||
Aspen Technology, Inc.* | 4,497 | 452,893 | ||||||
Autodesk, Inc.* | 71 | 11,574 | ||||||
Automatic Data Processing, Inc. | 3,130 | 478,984 | ||||||
Avnet, Inc. | 10,373 | 451,122 | ||||||
Black Knight, Inc.* | 1,188 | 62,073 | ||||||
Booz Allen Hamilton Holding Corp. | 10,346 | 546,890 | ||||||
Broadcom, Inc. | 271 | 74,623 | ||||||
Broadridge Financial Solutions, Inc. | 7,108 | 719,685 | ||||||
Cadence Design Systems, Inc.* | 3,593 | 205,699 | ||||||
CDK Global, Inc. | 1,215 | 70,482 | ||||||
CDW Corp. | 12,909 | 1,212,026 | ||||||
Cisco Systems, Inc. | 4,852 | 251,188 | ||||||
Citrix Systems, Inc. | 6,548 | 690,814 | ||||||
Cognex Corp. (a) | 349 | 18,637 | ||||||
Cognizant Technology Solutions Corp., Class A | 8,850 | 628,173 | ||||||
Conduent, Inc.* | 1,368 | 20,000 | ||||||
CoreLogic, Inc.* | 1,949 | 71,470 | ||||||
Corning, Inc. | 4,428 | 154,139 | ||||||
Cypress Semiconductor Corp. | 3,354 | 51,752 | ||||||
Dell Technologies, Inc., Class C* | 2,739 | 152,891 | ||||||
DocuSign, Inc.* | 248 | 13,677 | ||||||
Dolby Laboratories, Inc., Class A | 3,606 | 233,669 | ||||||
EPAM Systems, Inc.* | 1,953 | 315,956 | ||||||
Euronet Worldwide, Inc.*(a) | 1,639 | 220,150 | ||||||
F5 Networks, Inc.* | 6,061 | 1,019,097 | ||||||
Fair Isaac Corp.* | 1,397 | 346,205 | ||||||
Fidelity National Information Services, Inc. | 1,961 | 212,082 | ||||||
First Data Corp., Class A* | 849 | 21,344 | ||||||
Fiserv, Inc.*(a) | 6,001 | 508,225 |
Number | Value | |||||||
Information Technology (Continued) | ||||||||
FleetCor Technologies, Inc.* | 675 | $ | 157,464 | |||||
FLIR Systems, Inc. | 5,626 | 289,458 | ||||||
Fortinet, Inc.* | 4,070 | 353,235 | ||||||
Genpact Ltd. | 4,245 | 141,019 | ||||||
Global Payments, Inc. | 578 | 75,360 | ||||||
GoDaddy, Inc., Class A* | 465 | 34,712 | ||||||
Hewlett Packard Enterprise Co. | 22,621 | 370,532 | ||||||
HP, Inc. | 46,079 | 909,139 | ||||||
Intel Corp. | 4,077 | 215,918 | ||||||
International Business Machines Corp. | 1,463 | 202,084 | ||||||
Intuit, Inc. | 2,607 | 644,268 | ||||||
Jabil, Inc. | 8,927 | 253,527 | ||||||
Jack Henry & Associates, Inc. | 3,656 | 484,895 | ||||||
Juniper Networks, Inc. | 23,943 | 648,376 | ||||||
Keysight Technologies, Inc.* | 5,464 | 461,216 | ||||||
KLA-Tencor Corp. | 5,423 | 626,302 | ||||||
Lam Research Corp. | 2,363 | 416,101 | ||||||
Leidos Holdings, Inc. | 8,402 | 542,685 | ||||||
Littelfuse, Inc. (a) | 736 | 142,114 | ||||||
Manhattan Associates, Inc.* | 2,433 | 133,207 | ||||||
Marvell Technology Group Ltd. | 2,867 | 57,197 | ||||||
Mastercard, Inc., Class A | 466 | 104,743 | ||||||
Maxim Integrated Products, Inc. | 7,990 | 434,896 | ||||||
Microchip Technology, Inc. (a) | 2,873 | 249,578 | ||||||
Micron Technology, Inc.* | 851 | 34,789 | ||||||
Microsoft Corp. | 1,309 | 146,647 | ||||||
MKS Instruments, Inc. | 1,674 | 138,724 | ||||||
Monolithic Power Systems, Inc. (a) | 1,407 | 188,693 | ||||||
Motorola Solutions, Inc. | 7,043 | 1,007,994 | ||||||
National Instruments Corp. | 5,030 | 235,102 | ||||||
NCR Corp.* | 1,007 | 28,216 | ||||||
NetApp, Inc. | 14,024 | 914,365 | ||||||
Nuance Communications, Inc.* | 1,720 | 28,844 | ||||||
NVIDIA Corp. | 142 | 21,905 | ||||||
NXP Semiconductors NV | 622 | 56,801 | ||||||
ON Semiconductor Corp.* | 5,299 | 113,823 | ||||||
Oracle Corp. | 1,974 | 102,905 | ||||||
Palo Alto Networks, Inc.* | 274 | 67,478 | ||||||
Paychex, Inc. | 6,175 | 475,599 | ||||||
Paycom Software, Inc.*(a) | 167 | 30,349 | ||||||
PayPal Holdings, Inc.* | 820 | 80,417 | ||||||
Pegasystems, Inc. | 961 | 63,147 | ||||||
PTC, Inc.* | 1,805 | 167,540 | ||||||
Qorvo, Inc.* | 795 | 55,761 | ||||||
QUALCOMM, Inc. | 483 | 25,787 | ||||||
Red Hat, Inc.* | 993 | 181,322 | ||||||
RingCentral, Inc., Class A* | 193 | 20,321 | ||||||
Sabre Corp. | 15,180 | 340,487 | ||||||
salesforce.com, Inc.* | 737 | 120,610 | ||||||
ServiceNow, Inc.* | 318 | 76,142 | ||||||
Skyworks Solutions, Inc. | 1,959 | 159,972 | ||||||
SS&C Technologies Holdings, Inc. | 2,405 | 148,100 | ||||||
Symantec Corp. | 705 | 15,855 | ||||||
Synopsys, Inc.* | 4,835 | 491,623 | ||||||
Teradata Corp.* | 2,727 | 131,905 | ||||||
Teradyne, Inc. | 7,454 | 304,347 | ||||||
Texas Instruments, Inc. | 3,003 | 317,657 |
See Notes to Financial Statements. | 37 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Information Technology (Continued) | ||||||||
Total System Services, Inc. | 4,920 | $ | 464,448 | |||||
Trimble, Inc.*(a) | 1,653 | 66,137 | ||||||
Tyler Technologies, Inc.* | 1,012 | 207,247 | ||||||
Ubiquiti Networks, Inc. | 116 | 16,749 | ||||||
Ultimate Software Group, Inc.* | 572 | 189,618 | ||||||
VeriSign, Inc.* | 2,802 | 498,868 | ||||||
Versum Materials, Inc. | 2,938 | 143,962 | ||||||
Visa, Inc., Class A | 708 | 104,869 | ||||||
VMware, Inc., Class A (a) | 1,442 | 247,750 | ||||||
Western Union Co. (a) | 11,954 | 213,618 | ||||||
WEX, Inc.* | 336 | 59,828 | ||||||
Worldpay, Inc., Class A* | 1,283 | 122,911 | ||||||
Xerox Corp. | 3,696 | 114,206 | ||||||
Xilinx, Inc. | 6,275 | 786,258 | ||||||
Zebra Technologies Corp., Class A* | 436 | 87,422 | ||||||
|
| |||||||
30,359,783 | ||||||||
|
| |||||||
Materials — 4.9% | ||||||||
Air Products & Chemicals, Inc. | 4,065 | 736,497 | ||||||
Albemarle Corp. (a) | 285 | 26,018 | ||||||
Alcoa Corp.* | 874 | 25,783 | ||||||
AptarGroup, Inc. | 3,645 | 370,806 | ||||||
Ashland Global Holdings, Inc. | 3,473 | 268,741 | ||||||
Avery Dennison Corp. | 2,002 | 216,296 | ||||||
Axalta Coating Systems Ltd.* | 1,792 | 47,900 | ||||||
Ball Corp. | 14,472 | 792,776 | ||||||
Bemis Co., Inc. (a) | 4,855 | 256,829 | ||||||
Berry Global Group, Inc.* | 3,007 | 157,777 | ||||||
Cabot Corp. | 2,444 | 114,575 | ||||||
Celanese Corp. | 3,503 | 358,322 | ||||||
CF Industries Holdings, Inc. | 2,417 | 101,997 | ||||||
Crown Holdings, Inc.*(a) | 2,500 | 135,725 | ||||||
Domtar Corp. | 3,483 | 177,320 | ||||||
Eagle Materials, Inc. | 212 | 16,205 | ||||||
Eastman Chemical Co. | 5,712 | 472,325 | ||||||
Ecolab, Inc. | 2,080 | 351,333 | ||||||
FMC Corp. | 464 | 41,528 | ||||||
Graphic Packaging Holding Co. (a) | 4,854 | 59,122 | ||||||
International Flavors & Fragrances, Inc. (a) | 1,172 | 149,430 | ||||||
International Paper Co. | 3,719 | 170,405 | ||||||
Linde PLC | 878 | 152,105 | ||||||
LyondellBasell Industries NV, Class A | 5,882 | 503,029 | ||||||
Martin Marietta Materials, Inc. | 528 | 99,158 | ||||||
Mosaic Co. | 6,175 | 193,092 | ||||||
NewMarket Corp. (a) | 346 | 151,894 | ||||||
Newmont Mining Corp. | 2,855 | 97,413 | ||||||
Nucor Corp. | 9,618 | 582,562 | ||||||
Olin Corp. | 432 | 11,171 | ||||||
Owens-Illinois, Inc. | 1,416 | 28,207 | ||||||
Packaging Corp. of America | 1,841 | 175,981 | ||||||
PPG Industries, Inc. | 3,813 | 426,942 | ||||||
Reliance Steel & Aluminum Co. | 4,580 | 408,765 | ||||||
Royal Gold, Inc. (a) | 142 | 12,554 | ||||||
RPM International, Inc. | 7,467 | 432,115 | ||||||
ScottsMiracle-Gro Co. (a) | 383 | 31,368 | ||||||
Sealed Air Corp. (a) | 1,656 | 72,235 |
Number | Value | |||||||
Materials (Continued) | ||||||||
Sherwin-Williams Co. | 78 | $ | 33,790 | |||||
Silgan Holdings, Inc. | 917 | 25,960 | ||||||
Sonoco Products Co. (a) | 3,449 | 199,663 | ||||||
Southern Copper Corp. (a) | 877 | 31,230 | ||||||
Steel Dynamics, Inc. | 7,636 | 284,975 | ||||||
Valvoline, Inc. (a) | 10,247 | 192,541 | ||||||
Vulcan Materials Co. | 527 | 58,739 | ||||||
W.R. Grace & Co. (a) | 2,698 | 209,554 | ||||||
Westlake Chemical Corp. (a) | 277 | 19,354 | ||||||
WestRock Co. | 2,504 | 93,599 | ||||||
|
| |||||||
9,575,706 | ||||||||
|
| |||||||
Real Estate — 5.5% | ||||||||
Alexandria Real Estate Equities, Inc. REIT | 242 | 32,885 | ||||||
American Campus Communities, Inc. REIT | 1,003 | 45,195 | ||||||
American Homes 4 Rent, Class A REIT | 558 | 12,187 | ||||||
American Tower Corp. REIT | 863 | 152,017 | ||||||
Apartment Investment & Management Co., Class A REIT | 668 | 32,685 | ||||||
Apple Hospitality REIT, Inc. REIT | 6,674 | 109,988 | ||||||
AvalonBay Communities, Inc. REIT | 1,647 | 320,556 | ||||||
Boston Properties, Inc. REIT | 834 | 110,663 | ||||||
Brandywine Realty Trust REIT | 1,764 | 27,730 | ||||||
Brixmor Property Group, Inc. REIT | 7,482 | 130,636 | ||||||
Brookfield Property REIT, Inc., Class A REIT | 6,293 | 123,469 | ||||||
Camden Property Trust REIT | 1,314 | 128,890 | ||||||
CBRE Group, Inc., Class A* | 13,189 | 656,285 | ||||||
Columbia Property Trust, Inc. REIT | 3,843 | 83,124 | ||||||
CoreSite Realty Corp. REIT | 452 | 46,217 | ||||||
Corporate Office Properties Trust REIT | 1,115 | 28,979 | ||||||
Crown Castle International Corp. REIT | 585 | 69,469 | ||||||
CubeSmart REIT | 4,456 | 136,532 | ||||||
Digital Realty Trust, Inc. REIT (a) | 439 | 49,660 | ||||||
Douglas Emmett, Inc. REIT | 674 | 26,016 | ||||||
Duke Realty Corp. REIT | 6,490 | 191,909 | ||||||
EPR Properties REIT | 4,345 | 319,271 | ||||||
Equinix, Inc. REIT | 19 | 8,046 | ||||||
Equity Commonwealth REIT | 809 | 26,414 | ||||||
Equity LifeStyle Properties, Inc. REIT | 2,755 | 299,303 | ||||||
Equity Residential REIT | 2,514 | 185,257 | ||||||
Essex Property Trust, Inc. REIT | 711 | 198,966 | ||||||
Extra Space Storage, Inc. REIT | 4,389 | 421,081 | ||||||
Federal Realty Investment Trust REIT | 1,064 | 142,140 | ||||||
Gaming and Leisure Properties, Inc. REIT | 8,639 | 314,287 | ||||||
HCP, Inc. REIT | 6,196 | 190,651 | ||||||
Healthcare Trust of America, Inc., Class A REIT | 922 | 26,268 | ||||||
Highwoods Properties, Inc. REIT | 2,321 | 107,486 | ||||||
Hospitality Properties Trust REIT | 5,543 | 150,049 | ||||||
Host Hotels & Resorts, Inc. REIT | 18,865 | 369,943 | ||||||
Howard Hughes Corp.*(a) | 192 | 21,385 | ||||||
Hudson Pacific Properties, Inc. REIT | 935 | 31,061 | ||||||
Iron Mountain, Inc. REIT (a) | 1,925 | 68,183 | ||||||
Jones Lang LaSalle, Inc. | 2,413 | 398,435 | ||||||
Kilroy Realty Corp. REIT | 772 | 56,904 |
See Notes to Financial Statements. | 38 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Real Estate (Continued) | ||||||||
Kimco Realty Corp. REIT | 5,673 | $ | 99,788 | |||||
Lamar Advertising Co., Class A REIT (a) | 5,670 | 439,822 | ||||||
Liberty Property Trust REIT | 4,446 | 210,429 | ||||||
Life Storage, Inc. REIT | 832 | 81,203 | ||||||
Macerich Co. REIT | 590 | 25,724 | ||||||
Medical Properties Trust, Inc. REIT | 13,488 | 245,886 | ||||||
Mid-America Apartment Communities, Inc. REIT | 1,422 | 147,291 | ||||||
National Retail Properties, Inc. REIT | 3,962 | 206,420 | ||||||
Omega Healthcare Investors, Inc. REIT (a) | 2,340 | 84,006 | ||||||
Outfront Media, Inc. REIT | 4,271 | 95,841 | ||||||
Paramount Group, Inc. REIT | 2,030 | 29,151 | ||||||
Park Hotels & Resorts, Inc. REIT | 9,559 | 298,623 | ||||||
Prologis, Inc. REIT | 4,352 | 304,901 | ||||||
Public Storage REIT | 1,906 | 403,100 | ||||||
Rayonier, Inc. REIT | 6,048 | 178,235 | ||||||
Realogy Holdings Corp. (a) | 1,055 | 14,348 | ||||||
Realty Income Corp. REIT (a) | 2,181 | 150,838 | ||||||
Regency Centers Corp. REIT | 802 | 52,330 | ||||||
Retail Properties of America, Inc., Class A REIT | 19,426 | 242,048 | ||||||
SBA Communications Corp. REIT* | 375 | 67,710 | ||||||
Senior Housing Properties Trust REIT (a) | 2,159 | 27,959 | ||||||
Simon Property Group, Inc. REIT | 2,222 | 402,538 | ||||||
SL Green Realty Corp. REIT | 352 | 31,933 | ||||||
Spirit Realty Capital, Inc. REIT | 1,574 | 60,819 | ||||||
STORE Capital Corp. REIT | 2,738 | 88,903 | ||||||
Sun Communities, Inc. REIT | 448 | 50,879 | ||||||
Taubman Centers, Inc. REIT | 402 | 21,459 | ||||||
UDR, Inc. REIT | 1,248 | 55,436 | ||||||
Ventas, Inc. REIT | 2,072 | 130,018 | ||||||
VEREIT, Inc. REIT | 5,298 | 42,225 | ||||||
VICI Properties, Inc. REIT | 2,367 | 50,441 | ||||||
Vornado Realty Trust REIT | 772 | 51,963 | ||||||
Weingarten Realty Investors REIT | 8,322 | 239,757 | ||||||
Welltower, Inc. REIT | 772 | 57,367 | ||||||
Weyerhaeuser Co. REIT | 2,420 | 60,234 | ||||||
WP Carey, Inc. REIT (a) | 2,282 | 168,571 | ||||||
|
| |||||||
10,768,418 | ||||||||
|
| |||||||
Utilities — 9.0% | ||||||||
AES Corp. | 34,199 | 589,249 | ||||||
Alliant Energy Corp. | 8,900 | 408,243 | ||||||
Ameren Corp. | 11,987 | 853,954 | ||||||
American Electric Power Co., Inc. | 6,387 | 518,305 | ||||||
American Water Works Co., Inc. | 3,953 | 401,704 | ||||||
Aqua America, Inc. (a) | 3,404 | 122,340 | ||||||
Atmos Energy Corp. (a) | 6,107 | 603,677 | ||||||
Avangrid, Inc. | 1,528 | 73,879 |
Number | Value | |||||||
Utilities (Continued) | ||||||||
CenterPoint Energy, Inc. | 19,816 | $ | 597,254 | |||||
CMS Energy Corp. | 10,621 | 577,782 | ||||||
Consolidated Edison, Inc. | 10,184 | 839,671 | ||||||
Dominion Energy, Inc. | 5,644 | 418,164 | ||||||
DTE Energy Co. | 6,375 | 787,695 | ||||||
Duke Energy Corp. | 3,654 | 327,618 | ||||||
Edison International | 5,068 | 303,523 | ||||||
Entergy Corp. | 9,767 | 911,554 | ||||||
Evergy, Inc. | 5,397 | 301,746 | ||||||
Eversource Energy | 6,673 | 465,842 | ||||||
Exelon Corp. | 20,373 | 989,924 | ||||||
FirstEnergy Corp. | 11,376 | 463,572 | ||||||
Hawaiian Electric Industries, Inc. (a) | 8,129 | 311,178 | ||||||
MDU Resources Group, Inc. | 10,711 | 282,985 | ||||||
National Fuel Gas Co. (a) | 5,750 | 346,092 | ||||||
NextEra Energy, Inc. | 1,415 | 265,624 | ||||||
NiSource, Inc. (a) | 7,104 | 191,666 | ||||||
NRG Energy, Inc. | 1,935 | 80,651 | ||||||
OGE Energy Corp. | 11,717 | 498,207 | ||||||
Pinnacle West Capital Corp. | 5,165 | 484,167 | ||||||
PPL Corp. (a) | 11,873 | 381,954 | ||||||
Public Service Enterprise Group, Inc. | 8,610 | 506,354 | ||||||
Sempra Energy (a) | 3,845 | 463,092 | ||||||
Southern Co. | 6,268 | 311,457 | ||||||
UGI Corp. | 21,055 | 1,155,919 | ||||||
Vistra Energy Corp.*(a) | 22,237 | 579,051 | ||||||
WEC Energy Group, Inc. | 7,044 | 537,316 | ||||||
Xcel Energy, Inc. | 10,888 | 597,316 | ||||||
|
| |||||||
17,548,725 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 194,991,245 | |||||||
|
| |||||||
SECURITIES LENDING COLLATERAL — 0.1% | ||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 2.31% (b)(c) | 161,960 | 161,960 | ||||||
|
| |||||||
CASH EQUIVALENTS — 0.2% | ||||||||
DWS Government Money Market Series “Institutional Shares” , 2.38%(b) | 358,657 | 358,657 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 99.9% | ||||||||
(Cost $179,882,160) | $ | 195,511,862 | ||||||
Other assets and liabilities, net — 0.1% | 160,878 | |||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 195,672,740 | ||||||
|
|
See Notes to Financial Statements. | 39 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2019 is as follows:
Value ($) at 8/31/2018 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2019 | Value ($) at 2/28/2019 | ||||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL —0.1% | ||||||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 2.31% (b)(c) | ||||||||||||||||||||||||||||||||||||||
64,770 | 97,190 | (d) | — | — | — | 3,510 | — | 161,960 | 161,960 | |||||||||||||||||||||||||||||
CASH EQUIVALENTS —0.2% | ||||||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 2.38% (b) | ||||||||||||||||||||||||||||||||||||||
— | 4,564,291 | (4,205,634 | ) | — | — | 9,078 | — | 358,657 | 358,657 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||
64,770 | 4,661,481 | (4,205,634 | ) | — | — | 12,588 | — | 520,617 | 520,617 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* | Non-income producing security. |
(a) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2019 amounted to $21,477,775, which is 11.0% of net assets. |
(b) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualizedseven-day yield at period end. |
(c) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund heldnon-cash U.S. Treasury securities collateral having a value of $21,848,170. |
(d) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2019. |
REIT: | Real Estate Investment Trust |
At February 28, 2019, 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 | 1 | $ | 125,237 | $ | 139,235 | 3/15/2019 | $ | 13,998 | |||||||||||||||
E-Mini S&P MidCap 400 Futures | USD | 1 | 165,090 | 191,080 | 3/15/2019 | 25,990 | ||||||||||||||||||
|
| |||||||||||||||||||||||
Total unrealized appreciation | $ | 39,988 | ||||||||||||||||||||||
|
|
For information on the Fund’s policy and additional disclosures regarding open futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
Currency Abbreviations
USD | U.S. Dollar |
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2019 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) | $ | 194,991,245 | $ | — | $ | — | $ | 194,991,245 | ||||||||
Short-Term Investments (e) | 520,617 | — | — | 520,617 | ||||||||||||
Derivatives (f) | ||||||||||||||||
Futures Contracts | 39,988 | — | — | 39,988 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 195,551,850 | $ | — | $ | — | $ | 195,551,850 | ||||||||
|
|
|
|
|
|
|
|
(e) | See Schedule of Investments for additional detailed categorizations. |
(f) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
See Notes to Financial Statements. | 40 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 US QARP ETF
February 28, 2019 (Unaudited)
Number | Value | |||||||
COMMON STOCKS — 99.6% | ||||||||
Communication Services — 9.3% | ||||||||
Alphabet, Inc., Class A* | 2,040 | $ | 2,298,162 | |||||
Alphabet, Inc., Class C* | 2,140 | 2,396,629 | ||||||
AT&T, Inc. | 17,340 | 539,621 | ||||||
Charter Communications, Inc., Class A*(a) | 792 | 273,169 | ||||||
Comcast Corp., Class A | 22,794 | 881,444 | ||||||
Electronic Arts, Inc.* | 2,580 | 247,113 | ||||||
Facebook, Inc., Class A* | 12,578 | 2,030,718 | ||||||
GCI Liberty, Inc., Class A* | 658 | 35,229 | ||||||
Interpublic Group of Companies, Inc. | 4,500 | 103,635 | ||||||
John Wiley & Sons, Inc., Class A | 373 | 19,355 | ||||||
Liberty Broadband Corp., Class A* | 588 | 52,520 | ||||||
Liberty Broadband Corp., Class C* | 2,788 | 249,526 | ||||||
Live Nation Entertainment, Inc.*(a) | 588 | 33,257 | ||||||
Omnicom Group, Inc. | 2,106 | 159,424 | ||||||
Verizon Communications, Inc. | 8,902 | 506,702 | ||||||
Viacom, Inc., Class B | 1,740 | 50,843 | ||||||
Walt Disney Co. | 16,192 | 1,827,105 | ||||||
|
| |||||||
11,704,452 | ||||||||
|
| |||||||
Consumer Discretionary — 13.9% | ||||||||
Advance Auto Parts, Inc. | 572 | 92,538 | ||||||
Aptiv PLC | 1,070 | 88,928 | ||||||
AutoZone, Inc.* | 274 | 257,278 | ||||||
Best Buy Co., Inc. | 7,797 | 536,745 | ||||||
Booking Holdings, Inc.* | 205 | 347,893 | ||||||
BorgWarner, Inc. | 2,697 | 109,525 | ||||||
Brunswick Corp. | 1,531 | 80,745 | ||||||
Burlington Stores, Inc.* | 661 | 112,198 | ||||||
Capri Holdings Ltd.* | 2,977 | 135,751 | ||||||
Carnival Corp. | 4,701 | 271,530 | ||||||
Carter’s, Inc. (a) | 666 | 64,895 | ||||||
Chipotle Mexican Grill, Inc.* | 192 | 116,646 | ||||||
D.R. Horton, Inc. | 1,633 | 63,507 | ||||||
Darden Restaurants, Inc. | 1,628 | 182,515 | ||||||
Dick’s Sporting Goods, Inc. (a) | 2,404 | 93,900 | ||||||
Dollar General Corp. | 4,030 | 477,394 | ||||||
Dollar Tree, Inc.* | 1,809 | 174,261 | ||||||
Domino’s Pizza, Inc. (a) | 280 | 70,263 | ||||||
eBay, Inc. | 11,411 | 423,919 | ||||||
Expedia Group, Inc. | 693 | 85,454 | ||||||
Foot Locker, Inc. | 3,078 | 183,203 | ||||||
Gap, Inc. (a) | 6,435 | 163,449 | ||||||
Garmin Ltd. | 1,502 | 126,123 | ||||||
Garrett Motion, Inc.* | 97 | 1,624 | ||||||
Gentex Corp. | 5,353 | 108,880 | ||||||
Genuine Parts Co. | 767 | 83,434 | ||||||
Grand Canyon Education, Inc.* | 368 | 42,570 | ||||||
H&R Block, Inc. (a) | 2,203 | 53,202 | ||||||
Hanesbrands, Inc. (a) | 3,579 | 66,534 | ||||||
Hasbro, Inc. (a) | 1,447 | 122,850 | ||||||
Home Depot, Inc. | 15,831 | 2,930,951 | ||||||
Kohl’s Corp. | 2,412 | 162,882 | ||||||
L Brands, Inc. | 2,697 | 70,500 | ||||||
Las Vegas Sands Corp. | 2,892 | 177,656 | ||||||
Lear Corp. | 1,539 | 234,036 |
Number | Value | |||||||
Consumer Discretionary (Continued) | ||||||||
Leggett & Platt, Inc. (a) | 1,168 | $ | 53,051 | |||||
Lowe’s Cos., Inc. | 9,098 | 956,109 | ||||||
Lululemon Athletica, Inc.* | 856 | 128,760 | ||||||
Macy’s, Inc. (a) | 2,209 | 54,761 | ||||||
McDonald’s Corp. | 1,531 | 281,459 | ||||||
NIKE, Inc., Class B | 13,709 | 1,175,273 | ||||||
Nordstrom, Inc. (a) | 2,294 | 108,460 | ||||||
NVR, Inc.* | 63 | 165,060 | ||||||
O’Reilly Automotive, Inc.* | 1,065 | 396,137 | ||||||
Polaris Industries, Inc. (a) | 953 | 81,224 | ||||||
Pool Corp. (a) | 269 | 42,916 | ||||||
PulteGroup, Inc. | 2,794 | 75,438 | ||||||
Ralph Lauren Corp. | 1,047 | 131,053 | ||||||
Ross Stores, Inc. | 6,047 | 573,437 | ||||||
Royal Caribbean Cruises Ltd. | 1,075 | 127,366 | ||||||
Skechers U.S.A., Inc., Class A* | 2,631 | 88,481 | ||||||
Starbucks Corp. | 15,144 | 1,064,017 | ||||||
Tapestry, Inc. | 3,784 | 132,213 | ||||||
Target Corp. | 9,513 | 691,024 | ||||||
Thor Industries, Inc. (a) | 1,426 | 92,077 | ||||||
Tiffany & Co. | 1,073 | 101,978 | ||||||
TJX Cos., Inc. | 21,306 | 1,092,785 | ||||||
Toll Brothers, Inc. | 1,428 | 50,837 | ||||||
Tractor Supply Co. | 2,510 | 239,328 | ||||||
Ulta Beauty, Inc.* | 672 | 209,993 | ||||||
Urban Outfitters, Inc.* | 1,612 | 49,730 | ||||||
VF Corp. | 3,151 | 275,271 | ||||||
Visteon Corp.*(a) | 575 | 49,255 | ||||||
Whirlpool Corp. | 579 | 81,934 | ||||||
Williams-Sonoma, Inc. (a) | 2,117 | 123,125 | ||||||
Wyndham Hotels & Resorts, Inc. | 787 | 41,373 | ||||||
Yum China Holdings, Inc. | 3,625 | 151,235 | ||||||
Yum! Brands, Inc. | 3,436 | 324,702 | ||||||
|
| |||||||
17,523,641 | ||||||||
|
| |||||||
Consumer Staples — 12.0% | ||||||||
Altria Group, Inc. | 9,959 | 521,951 | ||||||
Archer-Daniels-Midland Co. | 2,765 | 117,512 | ||||||
Bunge Ltd. | 1,441 | 76,488 | ||||||
Campbell Soup Co. | 2,414 | 86,952 | ||||||
Clorox Co. | 882 | 139,382 | ||||||
Colgate-Palmolive Co. | 7,864 | 518,002 | ||||||
Costco Wholesale Corp. | 9,967 | 2,180,182 | ||||||
Estee Lauder Cos., Inc., Class A | 556 | 87,259 | ||||||
Flowers Foods, Inc. (a) | 1,415 | 28,965 | ||||||
General Mills, Inc. | 4,112 | 193,799 | ||||||
Herbalife Nutrition Ltd.* | 968 | 54,305 | ||||||
Hershey Co. | 1,255 | 138,903 | ||||||
Hormel Foods Corp. (a) | 3,457 | 149,896 | ||||||
Ingredion, Inc. | 583 | 53,898 | ||||||
JM Smucker Co. | 672 | 71,172 | ||||||
Kimberly-Clark Corp. | 3,562 | 416,148 | ||||||
Kroger Co. | 9,091 | 266,639 | ||||||
Lamb Weston Holdings, Inc. | 1,348 | 93,430 | ||||||
Molson Coors Brewing Co., Class B | 1,434 | 88,420 | ||||||
Monster Beverage Corp.* | 2,777 | 177,256 | ||||||
Nu Skin Enterprises, Inc., Class A | 856 | 51,454 |
See Notes to Financial Statements. | 41 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 US QARP ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Consumer Staples (Continued) | ||||||||
PepsiCo, Inc. | 7,188 | $ | 831,220 | |||||
Philip Morris International, Inc. | 14,908 | 1,296,102 | ||||||
Procter & Gamble Co. | 31,682 | 3,122,261 | ||||||
Sprouts Farmers Market, Inc.*(a) | 3,453 | 80,524 | ||||||
Sysco Corp. | 4,605 | 311,068 | ||||||
Tyson Foods, Inc., Class A | 669 | 41,251 | ||||||
US Foods Holding Corp.* | 1,539 | 54,234 | ||||||
Walgreens Boots Alliance, Inc. | 15,733 | 1,120,032 | ||||||
Walmart, Inc. | 27,913 | 2,763,108 | ||||||
|
| |||||||
15,131,813 | ||||||||
|
| |||||||
Energy — 7.1% | ||||||||
Antero Resources Corp.*(a) | 2,601 | 22,525 | ||||||
Apache Corp. (a) | 3,651 | 121,140 | ||||||
Baker Hughes a GE Co. (a) | 757 | 19,970 | ||||||
Chevron Corp. | 16,480 | 1,970,678 | ||||||
Cimarex Energy Co. | 1,160 | 83,416 | ||||||
Concho Resources, Inc. | 653 | 71,830 | ||||||
Exxon Mobil Corp. | 53,510 | 4,228,895 | ||||||
HollyFrontier Corp. | 1,718 | 87,962 | ||||||
Marathon Petroleum Corp. | 8,325 | 516,233 | ||||||
Occidental Petroleum Corp. | 3,925 | 259,639 | ||||||
PBF Energy, Inc., Class A | 2,091 | 64,967 | ||||||
Phillips 66 | 6,323 | 609,284 | ||||||
Valero Energy Corp. | 10,153 | 828,079 | ||||||
|
| |||||||
8,884,618 | ||||||||
|
| |||||||
Financials — 4.3% | ||||||||
Affiliated Managers Group, Inc. | 971 | 106,431 | ||||||
Aon PLC | 478 | 81,991 | ||||||
Assured Guaranty Ltd. | 2,793 | 116,636 | ||||||
Berkshire Hathaway, Inc., Class B* | 580 | 116,754 | ||||||
BGC Partners, Inc., Class A | 2,369 | 14,522 | ||||||
Cboe Global Markets, Inc. | 278 | 26,663 | ||||||
Credit Acceptance Corp.* | 461 | 202,775 | ||||||
Eaton Vance Corp. (a) | 2,032 | 85,039 | ||||||
Erie Indemnity Co., Class A | 485 | 86,437 | ||||||
Evercore, Inc., Class A | 1,519 | 139,900 | ||||||
Everest Re Group Ltd. | 176 | 39,795 | ||||||
Fidelity National Financial, Inc. | 4,513 | 158,361 | ||||||
Franklin Resources, Inc. (a) | 12,491 | 407,332 | ||||||
Jefferies Financial Group, Inc. | 1,903 | 38,574 | ||||||
Lazard Ltd., Class A | 6,904 | 258,417 | ||||||
Marsh & McLennan Cos., Inc. | 12,340 | 1,147,867 | ||||||
Moody’s Corp. | 1,624 | 281,147 | ||||||
MSCI, Inc. | 971 | 179,363 | ||||||
Progressive Corp. | 471 | 34,336 | ||||||
S&P Global, Inc. | 4,306 | 862,793 | ||||||
SEI Investments Co. | 2,494 | 131,559 | ||||||
T. Rowe Price Group, Inc. | 4,222 | 424,015 | ||||||
Torchmark Corp. | 5,174 | 427,165 | ||||||
White Mountains Insurance Group Ltd. | 94 | 88,303 | ||||||
|
| |||||||
5,456,175 | ||||||||
|
| |||||||
Health Care — 14.6% | ||||||||
Abbott Laboratories | 401 | 31,126 | ||||||
AbbVie, Inc. | 10,546 | 835,665 | ||||||
Agilent Technologies, Inc. | 472 | 37,496 |
Number | Value | |||||||
Health Care (Continued) | ||||||||
Align Technology, Inc.* | 100 | $ | 25,897 | |||||
Allergan PLC | 385 | 53,018 | ||||||
AmerisourceBergen Corp. | 1,044 | 86,965 | ||||||
Amgen, Inc. | 6,705 | 1,274,486 | ||||||
Anthem, Inc. | 500 | 150,365 | ||||||
Baxter International, Inc. | 5,373 | 401,524 | ||||||
Biogen, Inc.* | 3,131 | 1,026,999 | ||||||
Bristol-Myers Squibb Co. | 19,182 | 990,942 | ||||||
Cardinal Health, Inc. | 1,151 | 62,545 | ||||||
Celgene Corp.* | 7,668 | 637,364 | ||||||
Centene Corp.* | 6,888 | 419,410 | ||||||
Cerner Corp.* | 2,503 | 140,043 | ||||||
Chemed Corp. | 89 | 29,326 | ||||||
Cigna Corp. | 5,981 | 1,043,326 | ||||||
Covetrus, Inc.* | 182 | 6,512 | ||||||
CVS Health Corp. | 13,585 | 785,621 | ||||||
Edwards Lifesciences Corp.* | 1,431 | 242,254 | ||||||
Eli Lilly & Co. | 1,342 | 169,481 | ||||||
Exelixis, Inc.* | 1,353 | 30,294 | ||||||
Gilead Sciences, Inc. | 19,189 | 1,247,669 | ||||||
HCA Healthcare, Inc. | 1,936 | 269,182 | ||||||
Henry Schein, Inc.*(a) | 470 | 27,871 | ||||||
Humana, Inc. | 2,007 | 572,075 | ||||||
Johnson & Johnson | 31,920 | 4,361,549 | ||||||
McKesson Corp. | 3,826 | 486,514 | ||||||
Merck & Co., Inc. | 585 | 47,555 | ||||||
Mettler-Toledo International, Inc.* | 175 | 119,159 | ||||||
Pfizer, Inc. | 8,438 | 365,787 | ||||||
Regeneron Pharmaceuticals, Inc.* | 577 | 248,537 | ||||||
United Therapeutics Corp.* | 1,045 | 131,973 | ||||||
UnitedHealth Group, Inc. | 7,411 | 1,795,092 | ||||||
Universal Health Services, Inc., Class B | 786 | 109,120 | ||||||
Varian Medical Systems, Inc.* | 772 | 103,726 | ||||||
West Pharmaceutical Services, Inc. | 574 | 60,127 | ||||||
|
| |||||||
18,426,595 | ||||||||
|
| |||||||
Industrials — 13.2% | ||||||||
3M Co. | 4,966 | 1,029,899 | ||||||
Acuity Brands, Inc. | 770 | 100,192 | ||||||
AGCO Corp. | 395 | 26,694 | ||||||
Alaska Air Group, Inc. (a) | 2,383 | 147,031 | ||||||
Allison Transmission Holdings, Inc. | 1,445 | 71,816 | ||||||
American Airlines Group, Inc. (a) | 3,160 | 112,591 | ||||||
AO Smith Corp. | 1,417 | 73,585 | ||||||
Boeing Co. | 9,150 | 4,025,634 | ||||||
C.H. Robinson Worldwide, Inc. | 868 | 78,450 | ||||||
Cintas Corp. | 196 | 40,494 | ||||||
Copa Holdings SA, Class A | 499 | 43,997 | ||||||
Copart, Inc.*(a) | 1,325 | 77,738 | ||||||
Crane Co. | 295 | 24,948 | ||||||
Cummins, Inc. | 3,833 | 590,627 | ||||||
Curtiss-Wright Corp. | 195 | 24,042 | ||||||
Delta Air Lines, Inc. | 11,974 | 593,671 | ||||||
Donaldson Co., Inc. (a) | 1,073 | 55,356 | ||||||
Dover Corp. | 967 | 87,543 | ||||||
Eaton Corp. PLC | 3,273 | 261,087 | ||||||
Emerson Electric Co. | 3,456 | 235,526 | ||||||
Equifax, Inc. | 1,906 | 208,726 |
See Notes to Financial Statements. | 42 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 US QARP ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Industrials (Continued) | ||||||||
Expeditors International of Washington, Inc. | 2,314 | $ | 173,434 | |||||
Fastenal Co. (a) | 3,085 | 194,170 | ||||||
FedEx Corp. | 2,605 | 471,505 | ||||||
Fluor Corp. | 946 | 35,570 | ||||||
Fortive Corp. | 665 | 54,244 | ||||||
Fortune Brands Home & Security, Inc. | 1,229 | 57,910 | ||||||
General Dynamics Corp. | 3,804 | 647,517 | ||||||
Graco, Inc. | 1,617 | 75,934 | ||||||
HD Supply Holdings, Inc.* | 1,550 | 66,666 | ||||||
Honeywell International, Inc. | 971 | 149,602 | ||||||
Hubbell, Inc. | 404 | 47,692 | ||||||
Huntington Ingalls Industries, Inc. | 747 | 156,429 | ||||||
Illinois Tool Works, Inc. | 2,410 | 347,233 | ||||||
Ingersoll-Rand PLC | 2,802 | 295,779 | ||||||
ITT, Inc. | 1,543 | 89,124 | ||||||
Jacobs Engineering Group, Inc. | 2,390 | 176,334 | ||||||
JB Hunt Transport Services, Inc. | 1,250 | 134,588 | ||||||
JetBlue Airways Corp.* | 8,327 | 139,061 | ||||||
Kansas City Southern | 487 | 52,908 | ||||||
Kirby Corp.*(a) | 536 | 39,782 | ||||||
L3 Technologies, Inc. | 111 | 23,504 | ||||||
Landstar System, Inc. | 462 | 50,210 | ||||||
Lennox International, Inc. | 287 | 70,387 | ||||||
Lockheed Martin Corp. | 3,369 | 1,042,402 | ||||||
ManpowerGroup, Inc. | 389 | 32,773 | ||||||
MSC Industrial Direct Co., Inc., Class A | 464 | 39,166 | ||||||
Northrop Grumman Corp. | 387 | 112,215 | ||||||
nVent Electric PLC | 2,026 | 55,674 | ||||||
Old Dominion Freight Line, Inc. | 659 | 99,357 | ||||||
Oshkosh Corp. | 380 | 29,568 | ||||||
Owens Corning | 1,213 | 60,565 | ||||||
PACCAR, Inc. | 2,584 | 175,195 | ||||||
Parker-Hannifin Corp. | 278 | 48,972 | ||||||
Pentair PLC | 1,618 | 68,830 | ||||||
Quanta Services, Inc. | 2,603 | 92,771 | ||||||
Raytheon Co. | 2,398 | 447,227 | ||||||
Resideo Technologies, Inc.* | 176 | 4,523 | ||||||
Robert Half International, Inc. | 2,295 | 156,496 | ||||||
Rockwell Automation, Inc. | 767 | 136,956 | ||||||
Snap-on, Inc. (a) | 664 | 106,240 | ||||||
Southwest Airlines Co. | 12,196 | 683,464 | ||||||
Spirit AeroSystems Holdings, Inc., Class A | 1,538 | 151,954 | ||||||
Stanley Black & Decker, Inc. | 269 | 35,624 | ||||||
Terex Corp. (a) | 1,053 | 35,370 | ||||||
Toro Co. | 1,534 | 105,202 | ||||||
Union Pacific Corp. | 1,733 | 290,624 | ||||||
United Continental Holdings, Inc.* | 1,926 | 169,122 | ||||||
United Parcel Service, Inc., Class B | 1,906 | 210,041 | ||||||
United Technologies Corp. | 371 | 46,624 | ||||||
W.W. Grainger, Inc. (a) | 650 | 198,100 | ||||||
WABCO Holdings, Inc.* | 390 | 53,637 | ||||||
Waste Management, Inc. | 4,103 | 415,429 | ||||||
Watsco, Inc. (a) | 308 | 44,318 | ||||||
XPO Logistics, Inc.*(a) | 381 | 19,183 | ||||||
|
| |||||||
16,626,852 | ||||||||
|
|
Number | Value | |||||||
Information Technology — 19.4% | ||||||||
Accenture PLC, Class A | 7,678 | $ | 1,239,076 | |||||
Akamai Technologies, Inc.* | 1,359 | 94,668 | ||||||
Alliance Data Systems Corp. (a) | 201 | 34,773 | ||||||
Amdocs Ltd. | 1,736 | 96,470 | ||||||
Apple, Inc. | 31,870 | 5,518,290 | ||||||
Applied Materials, Inc. | 12,505 | 479,442 | ||||||
Arista Networks, Inc.* | 274 | 78,158 | ||||||
Aspen Technology, Inc.* | 308 | 31,019 | ||||||
Automatic Data Processing, Inc. | 3,721 | 569,425 | ||||||
Booz Allen Hamilton Holding Corp. | 766 | 40,491 | ||||||
Broadridge Financial Solutions, Inc. | 917 | 92,846 | ||||||
CDW Corp. | 1,036 | 97,270 | ||||||
Cisco Systems, Inc. | 5,818 | 301,198 | ||||||
Citrix Systems, Inc. | 975 | 102,862 | ||||||
Cognex Corp. (a) | 975 | 52,065 | ||||||
Cognizant Technology Solutions Corp., Class A | 7,003 | 497,073 | ||||||
Coherent, Inc.*(a) | 212 | 28,213 | ||||||
Corning, Inc. | 5,083 | 176,939 | ||||||
Dolby Laboratories, Inc., Class A | 563 | 36,482 | ||||||
EPAM Systems, Inc.* | 205 | 33,165 | ||||||
Euronet Worldwide, Inc.*(a) | 376 | 50,504 | ||||||
F5 Networks, Inc.* | 851 | 143,087 | ||||||
First Solar, Inc.*(a) | 1,630 | 85,657 | ||||||
FLIR Systems, Inc. | 964 | 49,598 | ||||||
Fortinet, Inc.* | 862 | 74,813 | ||||||
Hewlett Packard Enterprise Co. | 2,295 | 37,592 | ||||||
HP, Inc. | 20,014 | 394,876 | ||||||
Intel Corp. | 58,189 | 3,081,689 | ||||||
International Business Machines Corp. | 4,993 | 689,683 | ||||||
Intuit, Inc. | 1,626 | 401,833 | ||||||
IPG Photonics Corp.*(a) | 274 | 42,478 | ||||||
Jabil, Inc. | 2,494 | 70,830 | ||||||
Jack Henry & Associates, Inc. | 596 | 79,047 | ||||||
Juniper Networks, Inc. | 3,536 | 95,755 | ||||||
Lam Research Corp. (a) | 1,059 | 186,479 | ||||||
Leidos Holdings, Inc. | 787 | 50,832 | ||||||
Littelfuse, Inc. (a) | 110 | 21,240 | ||||||
Manhattan Associates, Inc.* | 692 | 37,887 | ||||||
Marvell Technology Group Ltd. | 3,544 | 70,703 | ||||||
Mastercard, Inc., Class A | 11,152 | 2,506,635 | ||||||
Micron Technology, Inc.* | 15,739 | 643,410 | ||||||
Microsoft Corp. | 3,653 | 409,246 | ||||||
MKS Instruments, Inc. | 595 | 49,308 | ||||||
National Instruments Corp. | 781 | 36,504 | ||||||
NetApp, Inc. | 2,593 | 169,064 | ||||||
Paychex, Inc. | 2,870 | 221,047 | ||||||
PayPal Holdings, Inc.* | 1,743 | 170,936 | ||||||
Qorvo, Inc.* | 756 | 53,026 | ||||||
QUALCOMM, Inc. | 3,361 | 179,444 | ||||||
Red Hat, Inc.* | 268 | 48,937 | ||||||
Skyworks Solutions, Inc. | 2,798 | 228,485 | ||||||
Teradyne, Inc. | 2,971 | 121,306 | ||||||
Texas Instruments, Inc. | 9,963 | 1,053,886 | ||||||
Versum Materials, Inc. | 1,075 | 52,675 | ||||||
Visa, Inc., Class A (a) | 19,478 | 2,885,081 | ||||||
VMware, Inc., Class A (a) | 496 | 85,218 |
See Notes to Financial Statements. | 43 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 US QARP ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Information Technology (Continued) | ||||||||
Xilinx, Inc. | 2,227 | $ | 279,043 | |||||
|
| |||||||
24,457,759 | ||||||||
|
| |||||||
Materials — 2.1% | ||||||||
Air Products & Chemicals, Inc. | 368 | 66,674 | ||||||
Alcoa Corp.* | 4,042 | 119,239 | ||||||
Avery Dennison Corp. | 668 | 72,171 | ||||||
Ball Corp. (a) | 1,619 | 88,689 | ||||||
Cabot Corp. | 559 | 26,206 | ||||||
Celanese Corp. | 863 | 88,276 | ||||||
CF Industries Holdings, Inc. | 1,264 | 53,341 | ||||||
Chemours Co. (a) | 1,051 | 39,969 | ||||||
DowDuPont, Inc. | 775 | 41,253 | ||||||
Eagle Materials, Inc. | 276 | 21,097 | ||||||
Eastman Chemical Co. | 844 | 69,790 | ||||||
Freeport-McMoRan, Inc. | 13,321 | 171,841 | ||||||
LyondellBasell Industries NV, Class A | 9,386 | 802,691 | ||||||
Newmont Mining Corp. (a) | 5,274 | 179,949 | ||||||
Nucor Corp. | 3,432 | 207,876 | ||||||
Packaging Corp. of America | 583 | 55,729 | ||||||
PPG Industries, Inc. | 1,839 | 205,913 | ||||||
Reliance Steel & Aluminum Co. | 475 | 42,394 | ||||||
Sherwin-Williams Co. | 178 | 77,110 | ||||||
Steel Dynamics, Inc. | 3,181 | 118,715 | ||||||
United States Steel Corp. (a) | 1,449 | 32,472 | ||||||
Westlake Chemical Corp. (a) | 292 | 20,402 | ||||||
WestRock Co. | 1,614 | 60,331 | ||||||
|
| |||||||
2,662,128 | ||||||||
|
| |||||||
Real Estate — 1.8% | ||||||||
CBRE Group, Inc., Class A* | 7,765 | 386,386 | ||||||
Equity Residential REIT | 3,271 | 241,040 | ||||||
Host Hotels & Resorts, Inc. REIT | 3,130 | 61,379 | ||||||
Jones Lang LaSalle, Inc. | 790 | 130,445 | ||||||
Lamar Advertising Co., Class A REIT (a) | 1,623 | 125,896 | ||||||
Public Storage REIT | 2,503 | 529,359 | ||||||
Realogy Holdings Corp. (a) | 1,046 | 14,226 | ||||||
Retail Properties of America, Inc., Class A REIT | 3,534 | 44,034 | ||||||
Simon Property Group, Inc. REIT | 3,172 | 574,640 | ||||||
Weingarten Realty Investors REIT | 2,859 | 82,368 | ||||||
|
| |||||||
2,189,773 | ||||||||
|
|
Number | Value | |||||||
Utilities — 1.9% | ||||||||
Ameren Corp. | 1,739 | $ | 123,886 | |||||
American Electric Power Co., Inc. | 2,314 | 187,781 | ||||||
CenterPoint Energy, Inc. | 3,626 | 109,288 | ||||||
Consolidated Edison, Inc. | 4,224 | 348,269 | ||||||
DTE Energy Co. | 1,135 | 140,241 | ||||||
Edison International | 3,053 | 182,844 | ||||||
Entergy Corp. | 1,074 | 100,236 | ||||||
Exelon Corp. | 8,171 | 397,029 | ||||||
MDU Resources Group, Inc. | 970 | 25,627 | ||||||
National Fuel Gas Co. (a) | 581 | 34,970 | ||||||
NRG Energy, Inc. | 2,586 | 107,785 | ||||||
PG&E Corp.* | 4,224 | 71,935 | ||||||
Pinnacle West Capital Corp. | 567 | 53,151 | ||||||
Public Service Enterprise Group, Inc. | 938 | 55,164 | ||||||
Sempra Energy (a) | 1,164 | 140,192 | ||||||
UGI Corp. | 979 | 53,747 | ||||||
Vistra Energy Corp.*(a) | 2,391 | 62,262 | ||||||
Xcel Energy, Inc. | 2,483 | 136,217 | ||||||
|
| |||||||
2,330,624 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 125,394,430 | |||||||
|
| |||||||
SECURITIES LENDING COLLATERAL — 0.1% |
| |||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares” , 2.31% (b)(c) | 111,047 | 111,047 | ||||||
|
| |||||||
CASH EQUIVALENTS — 0.2% | ||||||||
DWS Government Money Market Series “Institutional Shares” , 2.38% (b) | 260,348 | 260,348 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 99.9% | ||||||||
(Cost $121,730,058) | $ | 125,765,825 | ||||||
Other assets and liabilities, net — 0.1% | 153,912 | |||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 125,919,737 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2019 is as follows:
Value ($) at 8/31/2018 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2019 | Value ($) at 2/28/2019 | ||||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL —0.1% | ||||||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares” , 2.31% (b)(c) | ||||||||||||||||||||||||||||||||||||||
— | 111,047 | (d) | — | — | — | 1,170 | — | 111,047 | 111,047 | |||||||||||||||||||||||||||||
CASH EQUIVALENTS —0.2% | ||||||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares” , 2.38% (b) | ||||||||||||||||||||||||||||||||||||||
— | 835,489 | (575,141 | ) | — | — | 895 | — | 260,348 | 260,348 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||
— | 946,536 | (575,141 | ) | — | — | 2,065 | — | 371,395 | 371,395 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See Notes to Financial Statements. | 44 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 1000 US QARP ETF(Continued)
February 28, 2019 (Unaudited)
* | Non-income producing security. |
(a) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2019 amounted to $6,671,667, which is 5.3% of net assets. |
(b) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualizedseven-day yield at period end. |
(c) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund heldnon-cash U.S. Treasury securities collateral having a value of $6,714,482. |
(d) | Represents the net increase (purchases cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2019. |
REIT: | Real Estate Investment Trust |
At February 28, 2019, open futures contract purchased was as follows:
Contract Description | Currency | Number of Contracts | Notional Amount | Contract Value | Expiration Date | Unrealized Appreciation | ||||||||||||||
E-Mini S&P 500 Futures | USD | 3 | $ | 404,187 | $417,705 | 3/15/2019 | $ | 13,518 |
For information on the Fund’s policy and additional disclosures regarding open futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
Currency Abbreviations
USD | U.S. Dollar |
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2019 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) | $ | 125,394,430 | $ | — | $ | — | $ | 125,394,430 | ||||||||
Short-Term Investments (e) | 371,395 | — | — | 371,395 | ||||||||||||
Derivatives (f) | ||||||||||||||||
Futures Contract | 13,518 | — | — | 13,518 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 125,779,343 | $ | — | $ | — | $ | 125,779,343 | ||||||||
|
|
|
|
|
|
|
|
(e) | See Schedule of Investments for additional detailed categorizations. |
(f) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
See Notes to Financial Statements. | 45 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 2000 Comprehensive Factor ETF
February 28, 2019 (Unaudited)
Number | Value | |||||||
COMMON STOCKS — 98.9% | ||||||||
Communication Services — 3.0% | ||||||||
AMC Entertainment Holdings, Inc., Class A (a) | 773 | $ | 10,845 | |||||
ATN International, Inc. | 196 | 11,002 | ||||||
Boingo Wireless, Inc.* | 339 | 7,583 | ||||||
Care.com, Inc.* | 189 | 4,761 | ||||||
Cars.com, Inc.*(a) | 455 | 10,711 | ||||||
Cincinnati Bell, Inc.*(a) | 227 | 2,202 | ||||||
Clear Channel Outdoor Holdings, Inc., Class A* | 234 | 1,282 | ||||||
Cogent Communications Holdings, Inc. | 145 | 7,063 | ||||||
Consolidated Communications Holdings, Inc. (a) | 678 | 6,733 | ||||||
Daily Journal Corp.*(a) | 6 | 1,350 | ||||||
Emerald Expositions Events, Inc. | 96 | 1,208 | ||||||
Entravision Communications Corp., Class A | 444 | 1,754 | ||||||
Eros International PLC*(a) | 157 | 1,509 | ||||||
EW Scripps Co., Class A | 155 | 3,278 | ||||||
Gannett Co., Inc. (a) | 1,283 | 15,062 | ||||||
Glu Mobile, Inc.* | 330 | 2,963 | ||||||
Gray Television, Inc.*(a) | 338 | 7,406 | ||||||
Hemisphere Media Group, Inc.* | 399 | 5,546 | ||||||
IMAX Corp.* | 273 | 6,254 | ||||||
Iridium Communications, Inc.* | 326 | 6,941 | ||||||
Liberty Latin America Ltd., Class A* | 112 | 2,197 | ||||||
Liberty Media Corp.-Liberty Braves, Class A* | 54 | 1,499 | ||||||
Liberty Media Corp.-Liberty Braves, Class C* | 122 | 3,396 | ||||||
Liberty TripAdvisor Holdings, Inc., Class A* | 245 | 3,697 | ||||||
Loral Space & Communications, Inc.* | 234 | 9,573 | ||||||
Marcus Corp. | 485 | 20,559 | ||||||
Meredith Corp. (a) | 29 | 1,661 | ||||||
MSG Networks, Inc., Class A*(a) | 787 | 18,998 | ||||||
National CineMedia, Inc. | 1,307 | 10,116 | ||||||
New Media Investment Group, Inc. | 821 | 10,936 | ||||||
New York Times Co., Class A (a) | 210 | 6,899 | ||||||
Nexstar Media Group, Inc., Class A (a) | 24 | 2,346 | ||||||
Ooma, Inc.* | 267 | 4,355 | ||||||
ORBCOMM, Inc.* | 222 | 1,565 | ||||||
pdvWireless, Inc.*(a) | 42 | 1,650 | ||||||
QuinStreet, Inc.*(a) | 706 | 9,453 | ||||||
Reading International, Inc., Class A* | 393 | 6,331 | ||||||
Rosetta Stone, Inc.* | 471 | 7,588 | ||||||
Saga Communications, Inc., Class A | 47 | 1,579 | ||||||
Scholastic Corp. | 403 | 17,051 | ||||||
Shenandoah Telecommunications Co. | 209 | 9,288 | ||||||
Sinclair Broadcast Group, Inc., Class A | 121 | 4,368 | ||||||
Spok Holdings, Inc. | 520 | 7,181 | ||||||
TechTarget, Inc.* | 414 | 6,864 | ||||||
TEGNA, Inc. | 586 | 7,718 | ||||||
Travelzoo* | 136 | 1,805 | ||||||
Tribune Publishing Co.* | 16 | 193 | ||||||
TrueCar, Inc.* | 145 | 1,050 | ||||||
Vonage Holdings Corp.*(a) | 637 | 6,548 |
Number | Value | |||||||
Communication Services (Continued) | ||||||||
WideOpenWest, Inc.* | 352 | $ | 2,893 | |||||
World Wrestling Entertainment, Inc., Class A (a) | 56 | 4,687 | ||||||
Yelp, Inc.*(a) | 56 | 2,087 | ||||||
|
| |||||||
311,584 | ||||||||
|
| |||||||
Consumer Discretionary — 13.8% | ||||||||
1-800-Flowers.com, Inc., Class A* | 421 | 7,511 | ||||||
Aaron’s, Inc. | 195 | 10,587 | ||||||
Abercrombie & Fitch Co., Class A (a) | 551 | 12,094 | ||||||
Acushnet Holdings Corp. (a) | 180 | 4,484 | ||||||
Adtalem Global Education, Inc.* | 124 | 5,977 | ||||||
American Eagle Outfitters, Inc. | 519 | 10,588 | ||||||
American Outdoor Brands Corp.* | 204 | 2,560 | ||||||
American Public Education, Inc.* | 339 | 10,953 | ||||||
America’sCar-Mart, Inc.* | 137 | 11,179 | ||||||
Asbury Automotive Group, Inc.* | 221 | 15,866 | ||||||
Ascena Retail Group, Inc.* | 2,423 | 5,379 | ||||||
At Home Group, Inc.* | 111 | 2,717 | ||||||
Barnes & Noble Education, Inc.*(a) | 487 | 3,355 | ||||||
Barnes & Noble, Inc. (a) | 939 | 5,916 | ||||||
Bassett Furniture Industries, Inc. | 97 | 1,916 | ||||||
BBX Capital Corp. | 961 | 5,881 | ||||||
Beazer Homes USA, Inc.*(a) | 123 | 1,491 | ||||||
Bed Bath & Beyond, Inc. (a) | 301 | 5,036 | ||||||
Belmond Ltd., Class A*(a) | 305 | 7,579 | ||||||
Big Lots, Inc. (a) | 262 | 8,261 | ||||||
Biglari Holdings, Inc., Class B* | 13 | 1,742 | ||||||
BJ’s Restaurants, Inc. (a) | 546 | 26,121 | ||||||
Bloomin’ Brands, Inc. | 898 | 18,571 | ||||||
Boot Barn Holdings, Inc.*(a) | 183 | 5,216 | ||||||
Boyd Gaming Corp. (a) | 119 | 3,541 | ||||||
Brinker International, Inc. | 626 | 28,652 | ||||||
Buckle, Inc. (a) | 636 | 12,205 | ||||||
Caleres, Inc. (a) | 774 | 24,071 | ||||||
Callaway Golf Co. | 1,014 | 17,451 | ||||||
Career Education Corp.* | 399 | 6,631 | ||||||
Carriage Services, Inc. | 165 | 3,467 | ||||||
Carrols Restaurant Group, Inc.* | 689 | 7,365 | ||||||
Cato Corp., Class A | 1,259 | 19,817 | ||||||
Cavco Industries, Inc.* | 95 | 13,151 | ||||||
Century Casinos, Inc.* | 199 | 1,678 | ||||||
Century Communities, Inc.*(a) | 67 | 1,530 | ||||||
Cheesecake Factory, Inc. (a) | 342 | 16,177 | ||||||
Chegg, Inc.*(a) | 57 | 2,259 | ||||||
Chico’s FAS, Inc. (a) | 2,069 | 12,083 | ||||||
Children’s Place, Inc. | 106 | 10,129 | ||||||
Churchill Downs, Inc. | 39 | 3,658 | ||||||
Chuy’s Holdings, Inc.* | 233 | 5,212 | ||||||
Citi Trends, Inc. | 496 | 10,733 | ||||||
Container Store Group, Inc.* | 253 | 1,728 | ||||||
Cooper Tire & Rubber Co. (a) | 335 | 10,707 | ||||||
Cooper-Standard Holdings, Inc.* | 67 | 4,027 | ||||||
Core-Mark Holding Co., Inc. | 53 | 1,670 | ||||||
Cracker Barrel Old Country Store, Inc. | 45 | 7,290 | ||||||
Crocs, Inc.* | 576 | 14,792 | ||||||
Culp, Inc. | 170 | 3,154 |
See Notes to Financial Statements. | 46 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 2000 Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Consumer Discretionary (Continued) | ||||||||
Dana, Inc. | 133 | $ | 2,627 | |||||
Dave & Buster’s Entertainment, Inc. | 203 | 10,420 | ||||||
Deckers Outdoor Corp.* | 127 | 18,790 | ||||||
Del Frisco’s Restaurant Group, Inc.*(a) | 244 | 2,067 | ||||||
Del Taco Restaurants, Inc.* | 618 | 6,390 | ||||||
Denny’s Corp.* | 1,180 | 20,603 | ||||||
Dillard’s, Inc., Class A (a) | 152 | 11,938 | ||||||
Dine Brands Global, Inc. (a) | 42 | 4,166 | ||||||
Dorman Products, Inc.* | 117 | 9,465 | ||||||
Drive Shack, Inc.*(a) | 400 | 1,764 | ||||||
DSW, Inc., Class A (a) | 774 | 22,918 | ||||||
Duluth Holdings, Inc., Class B*(a) | 70 | 1,778 | ||||||
El Pollo Loco Holdings, Inc.* | 527 | 7,974 | ||||||
Eldorado Resorts, Inc.*(a) | 9 | 434 | ||||||
Escalade, Inc. | 336 | 4,099 | ||||||
Ethan Allen Interiors, Inc. (a) | 376 | 7,550 | ||||||
Etsy, Inc.*(a) | 31 | 2,209 | ||||||
Express, Inc.*(a) | 1,082 | 5,626 | ||||||
Fiesta Restaurant Group, Inc.*(a) | 381 | 5,742 | ||||||
Five Below, Inc.* | 36 | 4,333 | ||||||
Flexsteel Industries, Inc. | 59 | 1,469 | ||||||
Fossil Group, Inc.*(a) | 197 | 3,081 | ||||||
Fox Factory Holding Corp.*(a) | 117 | 7,415 | ||||||
Funko, Inc., Class A*(a) | 77 | 1,532 | ||||||
GameStop Corp., Class A (a) | 718 | 8,401 | ||||||
Genesco, Inc.*(a) | 974 | 47,015 | ||||||
Gentherm, Inc.* | 183 | 7,503 | ||||||
G-III Apparel Group Ltd.* | 237 | 8,440 | ||||||
GNC Holdings, Inc., Class A*(a) | 636 | 1,895 | ||||||
Group 1 Automotive, Inc. (a) | 67 | 4,166 | ||||||
Groupon, Inc.* | 217 | 710 | ||||||
Guess?, Inc. (a) | 512 | 11,464 | ||||||
Habit Restaurants, Inc., Class A*(a) | 1,364 | 15,372 | ||||||
Hamilton Beach Brands Holding Co., Class A (a) | 92 | 2,233 | ||||||
Haverty Furniture Cos., Inc. | 601 | 14,640 | ||||||
Helen of Troy Ltd.* | 83 | 9,305 | ||||||
Hibbett Sports, Inc.*(a) | 552 | 10,234 | ||||||
Hooker Furniture Corp. | 101 | 3,171 | ||||||
Houghton Mifflin Harcourt Co.* | 351 | 2,776 | ||||||
Hovnanian Enterprises, Inc., Class A* | 1,044 | 707 | ||||||
Hudson Ltd., Class A* | 288 | 4,291 | ||||||
International Speedway Corp., Class A | 393 | 16,997 | ||||||
iRobot Corp.*(a) | 60 | 7,504 | ||||||
J Alexander’s Holdings, Inc.* | 525 | 4,793 | ||||||
Jack in the Box, Inc. (a) | 42 | 3,383 | ||||||
Johnson Outdoors, Inc., Class A | 88 | 5,776 | ||||||
K12, Inc.* | 616 | 19,737 | ||||||
KB Home | 216 | 4,927 | ||||||
Kirkland’s, Inc.* | 291 | 3,399 | ||||||
Lands’ End, Inc.* | 79 | 1,440 | ||||||
Laureate Education, Inc., Class A*(a) | 261 | 3,991 | ||||||
La-Z-Boy, Inc. | 518 | 17,824 | ||||||
LCI Industries (a) | 51 | 4,156 | ||||||
Leaf Group Ltd.* | 102 | 829 | ||||||
LGI Homes, Inc.*(a) | 29 | 1,714 | ||||||
Liberty Expedia Holdings, Inc., Class A* | 366 | 16,214 |
Number | Value | |||||||
Consumer Discretionary (Continued) | ||||||||
Lifetime Brands, Inc. | 238 | $ | 2,490 | |||||
Lindblad Expeditions Holdings, Inc.* | 476 | 6,469 | ||||||
Liquidity Services, Inc.* | 193 | 1,332 | ||||||
Lithia Motors, Inc., Class A | 45 | 4,062 | ||||||
Lumber Liquidators Holdings, Inc.* | 109 | 1,287 | ||||||
M/I Homes, Inc.* | 128 | 3,333 | ||||||
Malibu Boats, Inc., Class A* | 85 | 3,928 | ||||||
Marine Products Corp. | 185 | 2,620 | ||||||
MarineMax, Inc.*(a) | 629 | 12,347 | ||||||
Marriott Vacations Worldwide Corp. | 10 | 973 | ||||||
MasterCraft Boat Holdings, Inc.* | 108 | 2,664 | ||||||
MDC Holdings, Inc. | 285 | 8,219 | ||||||
Meritage Homes Corp.*(a) | 76 | 3,333 | ||||||
Modine Manufacturing Co.* | 472 | 7,094 | ||||||
Monarch Casino & Resort, Inc.* | 122 | 5,350 | ||||||
Monro, Inc. (a) | 153 | 11,675 | ||||||
Motorcar Parts of America, Inc.*(a) | 51 | 1,055 | ||||||
Movado Group, Inc. (a) | 290 | 10,159 | ||||||
Murphy USA, Inc.* | 192 | 14,932 | ||||||
Nathan’s Famous, Inc. | 47 | 3,341 | ||||||
National Vision Holdings, Inc.*(a) | 96 | 3,226 | ||||||
Nautilus, Inc.* | 449 | 2,932 | ||||||
Noodles & Co.* | 186 | 1,458 | ||||||
Nutrisystem, Inc. (a) | 124 | 5,367 | ||||||
Office Depot, Inc. | 540 | 1,874 | ||||||
Ollie’s Bargain Outlet Holdings, Inc.*(a) | 61 | 5,381 | ||||||
Oxford Industries, Inc. (a) | 249 | 19,678 | ||||||
Papa John’s International, Inc. (a) | 245 | 10,709 | ||||||
Party City Holdco, Inc.*(a) | 424 | 4,414 | ||||||
Penn National Gaming, Inc.*(a) | 210 | 5,219 | ||||||
PetMed Express, Inc. (a) | 133 | 3,066 | ||||||
Planet Fitness, Inc., Class A* | 166 | 9,758 | ||||||
PlayAGS, Inc.* | 89 | 2,117 | ||||||
Potbelly Corp.* | 636 | 5,355 | ||||||
Quotient Technology, Inc.*(a) | 164 | 1,645 | ||||||
RCI Hospitality Holdings, Inc. | 152 | 3,555 | ||||||
Red Lion Hotels Corp.* | 263 | 2,099 | ||||||
Red Robin Gourmet Burgers, Inc.* | 115 | 3,497 | ||||||
Red Rock Resorts, Inc., Class A | 165 | 4,640 | ||||||
Regis Corp.*(a) | 254 | 4,595 | ||||||
Rent-A-Center, Inc.* | 722 | 13,436 | ||||||
RH*(a) | 59 | 9,062 | ||||||
Rocky Brands, Inc. | 331 | 9,913 | ||||||
RTW RetailWinds, Inc.*(a) | 1,177 | 3,578 | ||||||
Ruth’s Hospitality Group, Inc. | 784 | 19,929 | ||||||
Sally Beauty Holdings, Inc.*(a) | 831 | 15,016 | ||||||
SeaWorld Entertainment, Inc.* | 174 | 4,748 | ||||||
Shake Shack, Inc., Class A* | 107 | 5,900 | ||||||
Shiloh Industries, Inc.*(a) | 225 | 1,402 | ||||||
Shoe Carnival, Inc. (a) | 465 | 17,735 | ||||||
Shutterfly, Inc.* | 170 | 7,618 | ||||||
Shutterstock, Inc. (a) | 78 | 3,614 | ||||||
Signet Jewelers Ltd. (a) | 321 | 9,023 | ||||||
Skyline Champion Corp. | 71 | 1,410 | ||||||
Sleep Number Corp.*(a) | 494 | 21,563 | ||||||
Sonic Automotive, Inc., Class A (a) | 320 | 4,810 | ||||||
Sotheby’s*(a) | 131 | 5,747 |
See Notes to Financial Statements. | 47 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 2000 Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Consumer Discretionary (Continued) | ||||||||
Speedway Motorsports, Inc. | 96 | $ | 1,695 | |||||
Sportsman’s Warehouse Holdings, Inc.* | 384 | 2,415 | ||||||
Stamps.com, Inc.*(a) | 19 | 1,786 | ||||||
Standard Motor Products, Inc. | 431 | 21,248 | ||||||
Steven Madden Ltd. (a) | 379 | 12,503 | ||||||
Stoneridge, Inc.* | 245 | 7,245 | ||||||
Strategic Education, Inc. | 57 | 7,454 | ||||||
Sturm Ruger & Co., Inc. | 321 | 18,281 | ||||||
Superior Group of Cos., Inc. | 81 | 1,408 | ||||||
Tailored Brands, Inc. (a) | 340 | 4,406 | ||||||
Taylor Morrison Home Corp., Class A* | 215 | 3,606 | ||||||
Tenneco, Inc., Class A | 77 | 2,664 | ||||||
Texas Roadhouse, Inc. | 124 | 7,850 | ||||||
Tile Shop Holdings, Inc. | 353 | 2,252 | ||||||
Tilly’s, Inc., Class A | 496 | 6,016 | ||||||
TopBuild Corp.* | 86 | 5,117 | ||||||
Tower International, Inc. | 282 | 7,233 | ||||||
Town Sports International Holdings, Inc.* | 192 | 1,046 | ||||||
TRI Pointe Group, Inc.*(a) | 332 | 4,183 | ||||||
Tupperware Brands Corp. (a) | 140 | 4,215 | ||||||
Unifi, Inc.*(a) | 143 | 3,163 | ||||||
Universal Electronics, Inc.* | 75 | 2,504 | ||||||
Vera Bradley, Inc.* | 321 | 3,066 | ||||||
Vista Outdoor, Inc.*(a) | 643 | 5,729 | ||||||
Weyco Group, Inc. | 339 | 10,278 | ||||||
William Lyon Homes, Class A* | 87 | 1,231 | ||||||
Wingstop, Inc. | 141 | 9,392 | ||||||
Winmark Corp. (a) | 75 | 12,919 | ||||||
Winnebago Industries, Inc. (a) | 83 | 2,708 | ||||||
Wolverine World Wide, Inc. | 149 | 5,328 | ||||||
ZAGG, Inc.*(a) | 147 | 1,705 | ||||||
Zumiez, Inc.*(a) | 357 | 8,818 | ||||||
|
| |||||||
1,414,771 | ||||||||
|
| |||||||
Consumer Staples — 3.3% | ||||||||
Alico, Inc. (a) | 63 | 1,906 | ||||||
Andersons, Inc. | 294 | 10,866 | ||||||
B&G Foods, Inc. (a) | 173 | 4,259 | ||||||
BJ’s Wholesale Club Holdings, Inc.*(a) | 210 | 5,317 | ||||||
Boston Beer Co, Inc., Class A*(a) | 61 | 19,066 | ||||||
Calavo Growers, Inc. (a) | 151 | 12,855 | ||||||
Cal-Maine Foods, Inc. (a) | 283 | 12,480 | ||||||
Central Garden & Pet Co., Class A* | 37 | 1,030 | ||||||
Chefs’ Warehouse, Inc.*(a) | 209 | 6,690 | ||||||
Coca-Cola Consolidated, Inc. | 32 | 7,932 | ||||||
Craft Brew Alliance, Inc.* | 76 | 1,296 | ||||||
Darling Ingredients, Inc.* | 333 | 7,319 | ||||||
Dean Foods Co. (a) | 659 | 2,643 | ||||||
Edgewell Personal Care Co.*(a) | 91 | 4,037 | ||||||
Farmer Brothers Co.*(a) | 28 | 668 | ||||||
Fresh Del Monte Produce, Inc. | 123 | 3,405 | ||||||
Freshpet, Inc.*(a) | 194 | 7,997 | ||||||
Hostess Brands, Inc.*(a) | 431 | 5,232 | ||||||
Ingles Markets, Inc., Class A | 386 | 12,012 | ||||||
Inter Parfums, Inc. | 121 | 8,926 | ||||||
J&J Snack Foods Corp. (a) | 48 | 7,453 | ||||||
John B Sanfilippo & Son, Inc. (a) | 256 | 17,787 |
Number | Value | |||||||
Consumer Staples (Continued) | ||||||||
Lancaster Colony Corp. (a) | 30 | $ | 4,703 | |||||
Landec Corp.* | 430 | 5,521 | ||||||
Limoneira Co. | 198 | 4,633 | ||||||
Medifast, Inc. | 86 | 10,959 | ||||||
MGP Ingredients, Inc. (a) | 86 | 7,039 | ||||||
National Beverage Corp. (a) | 14 | 960 | ||||||
Natural Grocers by Vitamin Cottage, Inc.* | 230 | 3,266 | ||||||
Natural Health Trends Corp. (a) | 67 | 852 | ||||||
Nature’s Sunshine Products, Inc.* | 128 | 1,062 | ||||||
Oil-Dri Corp. of America | 112 | 3,265 | ||||||
Performance Food Group Co.* | 301 | 11,598 | ||||||
PriceSmart, Inc. (a) | 96 | 6,207 | ||||||
Primo Water Corp.*(a) | 600 | 8,802 | ||||||
Sanderson Farms, Inc. (a) | 63 | 7,258 | ||||||
Seneca Foods Corp., Class A*(a) | 123 | 3,631 | ||||||
Simply Good Foods Co.* | 541 | 11,069 | ||||||
Smart & Final Stores, Inc.* | 348 | 2,158 | ||||||
SpartanNash Co. | 199 | 3,777 | ||||||
Tootsie Roll Industries, Inc. (a) | 116 | 4,314 | ||||||
Turning Point Brands, Inc. (a) | 121 | 4,948 | ||||||
United Natural Foods, Inc.*(a) | 158 | 2,372 | ||||||
Universal Corp. | 196 | 11,631 | ||||||
USANA Health Sciences, Inc.* | 43 | 4,235 | ||||||
Vector Group Ltd. (a) | 326 | 3,821 | ||||||
Village Super Market, Inc., Class A | 516 | 15,815 | ||||||
WD-40 Co. (a) | 109 | 19,508 | ||||||
Weis Markets, Inc. (a) | 319 | 16,049 | ||||||
|
| |||||||
340,629 | ||||||||
|
| |||||||
Energy — 3.1% | ||||||||
Abraxas Petroleum Corp.* | 854 | 1,067 | ||||||
Adams Resources & Energy, Inc. | 64 | 2,543 | ||||||
Archrock, Inc. | 541 | 5,280 | ||||||
Ardmore Shipping Corp.* | 308 | 1,734 | ||||||
C&J Energy Services, Inc.*(a) | 96 | 1,658 | ||||||
Cactus, Inc., Class A* | 231 | 8,376 | ||||||
Callon Petroleum Co.*(a) | 215 | 1,645 | ||||||
Carrizo Oil & Gas, Inc.*(a) | 202 | 2,218 | ||||||
Clean Energy Fuels Corp.* | 770 | 1,763 | ||||||
CONSOL Energy, Inc.* | 167 | 6,338 | ||||||
CVR Energy, Inc. (a) | 40 | 1,622 | ||||||
Delek US Holdings, Inc. (a) | 123 | 4,352 | ||||||
DHT Holdings, Inc. (a) | 954 | 4,121 | ||||||
Diamond Offshore Drilling, Inc.*(a) | 179 | 1,709 | ||||||
Dorian LPG Ltd.*(a) | 277 | 1,634 | ||||||
Dril-Quip, Inc.*(a) | 209 | 8,905 | ||||||
Evolution Petroleum Corp. | 947 | 6,695 | ||||||
Exterran Corp.* | 273 | 4,660 | ||||||
Frank’s International NV*(a) | 331 | 2,072 | ||||||
FTS International, Inc.* | 479 | 4,929 | ||||||
GasLog Ltd. (a) | 107 | 1,725 | ||||||
Green Plains, Inc. | 267 | 4,165 | ||||||
Gulfport Energy Corp.*(a) | 420 | 3,217 | ||||||
Hallador Energy Co. | 303 | 1,627 | ||||||
Helix Energy Solutions Group, Inc.*(a) | 401 | 2,967 | ||||||
Isramco, Inc.* | 16 | 1,815 | ||||||
Keane Group, Inc.* | 184 | 2,028 |
See Notes to Financial Statements. | 48 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 2000 Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Energy (Continued) | ||||||||
KLX Energy Services Holdings, Inc.* | 620 | $ | 16,343 | |||||
Laredo Petroleum, Inc.*(a) | 252 | 864 | ||||||
Liberty Oilfield Services, Inc., Class A (a) | 740 | 12,121 | ||||||
Mammoth Energy Services, Inc. | 128 | 2,943 | ||||||
Matador Resources Co.* | 152 | 2,827 | ||||||
Matrix Service Co.* | 575 | 12,012 | ||||||
Midstates Petroleum Co., Inc.* | 26 | 225 | ||||||
NACCO Industries, Inc., Class A (a) | 52 | 1,902 | ||||||
Natural Gas Services Group, Inc.* | 146 | 2,698 | ||||||
Newpark Resources, Inc.*(a) | 956 | 8,451 | ||||||
Nine Energy Service, Inc.* | 128 | 3,356 | ||||||
Noble Corp. PLC* | 933 | 2,808 | ||||||
Northern Oil and Gas, Inc.* | 600 | 1,422 | ||||||
Oceaneering International, Inc.*(a) | 304 | 4,697 | ||||||
Oil States International, Inc.*(a) | 332 | 5,690 | ||||||
Overseas Shipholding Group, Inc., Class A* | 547 | 1,078 | ||||||
Panhandle Oil and Gas, Inc., Class A | 142 | 2,332 | ||||||
Par Pacific Holdings, Inc.* | 630 | 10,647 | ||||||
PDC Energy, Inc.*(a) | 120 | 4,448 | ||||||
Profire Energy, Inc.* | 490 | 916 | ||||||
ProPetro Holding Corp.* | 393 | 7,805 | ||||||
Renewable Energy Group, Inc.* | 1,060 | 28,164 | ||||||
REX American Resources Corp.*(a) | 94 | 7,493 | ||||||
RigNet, Inc.* | 96 | 1,486 | ||||||
Ring Energy, Inc.* | 24 | 148 | ||||||
Rowan Cos. PLC, Class A* | 518 | 5,859 | ||||||
SEACOR Holdings, Inc.*(a) | 334 | 14,916 | ||||||
SEACOR Marine Holdings, Inc.*(a) | 157 | 2,154 | ||||||
SemGroup Corp., Class A (a) | 121 | 1,905 | ||||||
Ship Finance International Ltd. (a) | 362 | 4,485 | ||||||
SilverBow Resources, Inc.* | 289 | 6,503 | ||||||
Solaris Oilfield Infrastructure, Inc., Class A (a) | 77 | 1,309 | ||||||
Southwestern Energy Co.*(a) | 1,185 | 5,013 | ||||||
SRC Energy, Inc.*(a) | 810 | 3,726 | ||||||
Superior Energy Services, Inc.* | 282 | 1,320 | ||||||
Teekay Corp. (a) | 178 | 730 | ||||||
Teekay Tankers Ltd., Class A | 1,452 | 1,554 | ||||||
TETRA Technologies, Inc.* | 546 | 1,305 | ||||||
Unit Corp.*(a) | 101 | 1,571 | ||||||
US Silica Holdings, Inc. (a) | 109 | 1,624 | ||||||
W&T Offshore, Inc.*(a) | 614 | 3,199 | ||||||
World Fuel Services Corp. | 869 | 24,063 | ||||||
|
| |||||||
314,977 | ||||||||
|
| |||||||
Financials — 27.3% | ||||||||
1st Constitution Bancorp | 262 | 4,892 | ||||||
1st Source Corp. | 153 | 7,275 | ||||||
ACNB Corp. | 280 | 11,032 | ||||||
AG Mortgage Investment Trust, Inc. REIT | 1,122 | 19,949 | ||||||
Allegiance Bancshares, Inc.* | 111 | 4,247 | ||||||
Amalgamated Bank, Class A | 84 | 1,488 | ||||||
American Equity Investment Life Holding Co. | 338 | 10,698 | ||||||
American National Bankshares, Inc. | 166 | 5,943 | ||||||
Ameris Bancorp | 96 | 3,914 | ||||||
AMERISAFE, Inc. | 248 | 15,651 |
Number | Value | |||||||
Financials (Continued) | ||||||||
Ames National Corp. | 182 | $ | 5,065 | |||||
Anworth Mortgage Asset Corp. REIT | 2,635 | 11,225 | ||||||
Apollo Commercial Real Estate Finance, Inc. REIT (a) | 613 | 11,132 | ||||||
Arbor Realty Trust, Inc. REIT (a) | 3,394 | 43,918 | ||||||
Ares Commercial Real Estate Corp. REIT | 917 | 13,993 | ||||||
Argo Group International Holdings Ltd. | 194 | 13,485 | ||||||
Arlington Asset Investment Corp., Class A | 735 | 6,093 | ||||||
ARMOUR Residential REIT, Inc. REIT (a) | 730 | 14,636 | ||||||
Arrow Financial Corp. | 285 | 10,095 | ||||||
Artisan Partners Asset Management, Inc., Class A | 237 | 6,233 | ||||||
Atlantic Capital Bancshares, Inc.* | 603 | 11,626 | ||||||
Auburn National Bancorporation, Inc. | 78 | 2,630 | ||||||
Axos Financial, Inc.*(a) | 255 | 8,231 | ||||||
Banc of California, Inc. (a) | 524 | 9,076 | ||||||
BancFirst Corp. | 100 | 5,638 | ||||||
Banco Latinoamericano de Comercio Exterior SA, Class E | 315 | 6,590 | ||||||
Bancorp, Inc.* | 379 | 3,438 | ||||||
BancorpSouth Bank (a) | 159 | 5,182 | ||||||
Bank of Commerce Holdings | 455 | 5,164 | ||||||
Bank of Marin Bancorp | 280 | 12,460 | ||||||
Bank of NT Butterfield & Son Ltd. | 150 | 6,111 | ||||||
Bank of Princeton | 110 | 3,578 | ||||||
Bank7 Corp.* | 80 | 1,280 | ||||||
BankFinancial Corp. | 273 | 4,270 | ||||||
Bankwell Financial Group, Inc. | 131 | 3,965 | ||||||
Banner Corp. | 253 | 15,719 | ||||||
Bar Harbor Bankshares (a) | 276 | 7,126 | ||||||
Baycom Corp.* | 147 | 3,391 | ||||||
BCB Bancorp, Inc. | 302 | 3,962 | ||||||
Beneficial Bancorp, Inc. | 567 | 9,140 | ||||||
Berkshire Hills Bancorp, Inc. (a) | 226 | 7,078 | ||||||
Blackstone Mortgage Trust, Inc., Class A REIT | 222 | 7,655 | ||||||
Blucora, Inc.* | 202 | 5,432 | ||||||
Blue Hills Bancorp, Inc. | 381 | 9,479 | ||||||
Boston Private Financial Holdings, Inc. | 586 | 6,968 | ||||||
Bridge Bancorp, Inc. | 194 | 6,396 | ||||||
Bridgewater Bancshares, Inc.* | 287 | 3,203 | ||||||
BrightSphere Investment Group PLC | 653 | 9,240 | ||||||
Brookline Bancorp, Inc. | 641 | 10,243 | ||||||
Bryn Mawr Bank Corp. | 203 | 8,274 | ||||||
BSB Bancorp, Inc.* | 286 | 10,096 | ||||||
Business First Bancshares, Inc. | 109 | 2,694 | ||||||
Byline Bancorp, Inc.* | 179 | 3,659 | ||||||
C&F Financial Corp. | 93 | 4,798 | ||||||
Cadence BanCorp (a) | 664 | 13,273 | ||||||
Cambridge Bancorp | 61 | 5,062 | ||||||
Camden National Corp. | 273 | 12,244 | ||||||
Cannae Holdings, Inc.* | 912 | 20,903 | ||||||
Capital Bancorp, Inc.* | 134 | 1,583 | ||||||
Capital City Bank Group, Inc. | 224 | 5,528 | ||||||
Capitol Federal Financial, Inc. | 746 | 9,974 | ||||||
Capstar Financial Holdings, Inc. | 54 | 905 | ||||||
Capstead Mortgage Corp. REIT (a) | 1,713 | 14,218 |
See Notes to Financial Statements. | 49 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 2000 Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Financials (Continued) | ||||||||
Carolina Financial Corp. | 169 | $ | 6,189 | |||||
Cathay General Bancorp | 151 | 5,865 | ||||||
CB Financial Services, Inc. | 122 | 3,156 | ||||||
CBTX, Inc. | 279 | 9,293 | ||||||
CenterState Banks Corp. | 220 | 5,821 | ||||||
Central Pacific Financial Corp. | 388 | 11,322 | ||||||
Central Valley Community Bancorp | 263 | 5,121 | ||||||
Century Bancorp, Inc., Class A | 66 | 5,105 | ||||||
Chemical Financial Corp. (a) | 89 | 4,079 | ||||||
Chemung Financial Corp. | 68 | 3,167 | ||||||
Cherry Hill Mortgage Investment Corp. REIT (a) | 875 | 16,222 | ||||||
Citizens & Northern Corp. (a) | 332 | 8,712 | ||||||
Citizens, Inc.*(a) | 859 | 5,867 | ||||||
City Holding Co. (a) | 175 | 14,024 | ||||||
Civista Bancshares, Inc. (a) | 332 | 7,082 | ||||||
CNB Financial Corp. | 316 | 8,785 | ||||||
CNO Financial Group, Inc. | 329 | 5,603 | ||||||
Coastal Financial Corp.* | 102 | 1,668 | ||||||
Codorus Valley Bancorp, Inc. | 193 | 4,377 | ||||||
Cohen & Steers, Inc. | 94 | 3,925 | ||||||
Colony Credit Real Estate, Inc. REIT (a) | 521 | 9,081 | ||||||
Columbia Banking System, Inc. (a) | 121 | 4,583 | ||||||
Columbia Financial, Inc.* | 138 | 2,212 | ||||||
Community Bank System, Inc. (a) | 126 | 8,164 | ||||||
Community Bankers Trust Corp.* | 619 | 4,940 | ||||||
Community Financial Corp. | 65 | 1,954 | ||||||
Community Trust Bancorp, Inc. | 225 | 9,626 | ||||||
ConnectOne Bancorp, Inc. | 375 | 8,089 | ||||||
County Bancorp, Inc. | 57 | 1,088 | ||||||
Cowen, Inc.*(a) | 126 | 1,950 | ||||||
Crawford & Co., Class B | 175 | 1,799 | ||||||
Curo Group Holdings Corp.*(a) | 233 | 2,568 | ||||||
Customers Bancorp, Inc.*(a) | 417 | 8,920 | ||||||
CVB Financial Corp. (a) | 198 | 4,512 | ||||||
Diamond Hill Investment Group, Inc. | 68 | 9,653 | ||||||
Dime Community Bancshares, Inc. | 348 | 6,953 | ||||||
Donegal Group, Inc., Class A | 244 | 3,287 | ||||||
Donnelley Financial Solutions, Inc.*(a) | 482 | 6,849 | ||||||
Dynex Capital, Inc. REIT | 2,078 | 12,676 | ||||||
Eagle Bancorp, Inc.*(a) | 135 | 7,991 | ||||||
Elevate Credit, Inc.* | 89 | 390 | ||||||
EMC Insurance Group, Inc. | 234 | 7,472 | ||||||
Employers Holdings, Inc. | 294 | 12,248 | ||||||
Encore Capital Group, Inc.* | 113 | 3,865 | ||||||
Enova International, Inc.* | 753 | 19,217 | ||||||
Enstar Group Ltd.*(a) | 13 | 2,319 | ||||||
Entegra Financial Corp.* | 143 | 3,436 | ||||||
Enterprise Bancorp, Inc. | 159 | 5,043 | ||||||
Enterprise Financial Services Corp. | 267 | 12,063 | ||||||
Equity Bancshares, Inc., Class A* | 215 | 7,308 | ||||||
Esquire Financial Holdings, Inc.* | 154 | 3,513 | ||||||
ESSA Bancorp, Inc. | 334 | 5,341 | ||||||
Essent Group Ltd.* | 175 | 7,550 | ||||||
Evans Bancorp, Inc. | 158 | 5,633 | ||||||
Exantas Capital Corp. REIT (a) | 1,460 | 15,841 | ||||||
EZCORP, Inc., Class A*(a) | 657 | 6,419 |
Number | Value | |||||||
Financials (Continued) | ||||||||
Farmers & Merchants Bancorp, Inc. | 129 | $ | 3,949 | |||||
Farmers National Banc Corp. | 460 | 6,771 | ||||||
FB Financial Corp. (a) | 97 | 3,439 | ||||||
FBL Financial Group, Inc., Class A (a) | 80 | 5,590 | ||||||
Federal Agricultural Mortgage Corp., Class C | 169 | 13,836 | ||||||
Federated Investors, Inc., Class B (a) | 280 | 8,330 | ||||||
FedNat Holding Co. | 444 | 8,103 | ||||||
FGL Holdings* | 988 | 8,200 | ||||||
Fidelity D&D Bancorp, Inc. | 111 | 6,464 | ||||||
Fidelity Southern Corp. | 593 | 19,320 | ||||||
Financial Institutions, Inc. | 299 | 9,012 | ||||||
First BanCorp | 1,409 | 16,218 | ||||||
First Bancorp, Inc. | 213 | 5,613 | ||||||
First Bancorp/Southern Pines NC | 253 | 9,915 | ||||||
First Bancshares, Inc. | 241 | 7,895 | ||||||
First Bank | 259 | 2,997 | ||||||
First Busey Corp. | 350 | 9,429 | ||||||
First Business Financial Services, Inc. | 265 | 5,846 | ||||||
First Choice Bancorp | 82 | 1,911 | ||||||
First Commonwealth Financial Corp. | 529 | 7,438 | ||||||
First Community Bancshares, Inc. (a) | 366 | 13,121 | ||||||
First Community Corp. | 223 | 4,471 | ||||||
First Defiance Financial Corp. | 360 | 11,138 | ||||||
First Financial Bancorp | 245 | 6,794 | ||||||
First Financial Bankshares, Inc. | 105 | 6,809 | ||||||
First Financial Corp. | 248 | 11,006 | ||||||
First Financial Northwest, Inc. | 213 | 3,455 | ||||||
First Foundation, Inc. | 390 | 5,948 | ||||||
First Guaranty Bancshares, Inc. | 89 | 1,859 | ||||||
First Internet Bancorp | 90 | 1,944 | ||||||
First Interstate BancSystem, Inc., Class A | 275 | 11,451 | ||||||
First Merchants Corp. | 178 | 7,189 | ||||||
FirstMid-Illinois Bancshares, Inc. | 53 | 1,850 | ||||||
First Midwest Bancorp, Inc. | 358 | 8,288 | ||||||
First Northwest Bancorp | 220 | 3,546 | ||||||
First of Long Island Corp. | 200 | 4,672 | ||||||
First Savings Financial Group, Inc. | 51 | 2,668 | ||||||
First United Corp. | 265 | 4,585 | ||||||
FirstCash, Inc. | 111 | 9,730 | ||||||
Flagstar Bancorp, Inc. (a) | 23 | 751 | ||||||
Flushing Financial Corp. | 326 | 7,566 | ||||||
Focus Financial Partners, Inc., Class A* | 52 | 1,968 | ||||||
Franklin Financial Network, Inc. (a) | 238 | 7,806 | ||||||
FS Bancorp, Inc. | 83 | 4,304 | ||||||
Fulton Financial Corp. (a) | 346 | 5,944 | ||||||
GAIN Capital Holdings, Inc. (a) | 239 | 1,649 | ||||||
GAMCO Investors, Inc., Class A | 177 | 3,625 | ||||||
Genworth Financial, Inc., Class A*(a) | 2,021 | 7,821 | ||||||
German American Bancorp, Inc. | 255 | 7,897 | ||||||
Glacier Bancorp, Inc. (a) | 150 | 6,573 | ||||||
Global Indemnity Ltd. | 95 | 3,665 | ||||||
Granite Point Mortgage Trust, Inc. REIT (a) | 781 | 14,855 | ||||||
Great Ajax Corp. REIT (a) | 395 | 5,226 | ||||||
Great Southern Bancorp, Inc. | 183 | 10,363 | ||||||
Great Western Bancorp, Inc. | 228 | 8,561 |
See Notes to Financial Statements. | 50 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 2000 Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Financials (Continued) | ||||||||
Green Dot Corp., Class A* | 72 | $ | 4,648 | |||||
Greene County Bancorp, Inc. | 70 | 2,205 | ||||||
Greenhill & Co., Inc. (a) | 234 | 5,508 | ||||||
Greenlight Capital Re Ltd., Class A*(a) | 176 | 1,969 | ||||||
Guaranty Bancshares, Inc. (a) | 255 | 7,844 | ||||||
Hallmark Financial Services, Inc.* | 265 | 2,769 | ||||||
Hamilton Lane, Inc., Class A (a) | 248 | 11,577 | ||||||
Hancock Whitney Corp. | 83 | 3,625 | ||||||
Hanmi Financial Corp. | 245 | 5,655 | ||||||
HarborOne Bancorp, Inc.*(a) | 134 | 2,161 | ||||||
HCI Group, Inc. (a) | 136 | 6,278 | ||||||
Health Insurance Innovations, Inc., Class A*(a) | 82 | 3,051 | ||||||
Heartland Financial USA, Inc. | 186 | 9,038 | ||||||
Heritage Commerce Corp. | 605 | 8,452 | ||||||
Heritage Financial Corp. (a) | 350 | 11,522 | ||||||
Heritage Insurance Holdings, Inc. | 124 | 1,850 | ||||||
Hilltop Holdings, Inc. | 111 | 2,133 | ||||||
Hingham Institution for Savings | 29 | 5,678 | ||||||
Home Bancorp, Inc. | 143 | 5,058 | ||||||
Home BancShares, Inc. (a) | 187 | 3,643 | ||||||
HomeStreet, Inc.* | 416 | 11,606 | ||||||
HomeTrust Bancshares, Inc. | 322 | 8,768 | ||||||
Hope Bancorp, Inc. (a) | 440 | 6,415 | ||||||
Horace Mann Educators Corp. | 300 | 11,757 | ||||||
Horizon Bancorp, Inc. | 556 | 9,825 | ||||||
Houlihan Lokey, Inc. | 288 | 13,242 | ||||||
Howard Bancorp, Inc.* | 132 | 1,752 | ||||||
IBERIABANK Corp. | 45 | 3,520 | ||||||
Independence Holding Co. | 210 | 8,020 | ||||||
Independent Bank Corp. | 478 | 11,114 | ||||||
Independent Bank Corp./Rockland MA (a) | 137 | 11,663 | ||||||
Independent Bank Group, Inc. | 194 | 11,244 | ||||||
International Bancshares Corp. | 187 | 7,633 | ||||||
INTL. FCStone, Inc.* | 386 | 16,791 | ||||||
Invesco Mortgage Capital, Inc. REIT | 1,016 | 16,175 | ||||||
Investar Holding Corp. | 215 | 5,233 | ||||||
Investment Technology Group, Inc. | 241 | 7,285 | ||||||
Investors Bancorp, Inc. | 393 | 4,940 | ||||||
Investors Title Co. | 46 | 7,839 | ||||||
James River Group Holdings Ltd. | 322 | 13,231 | ||||||
Kearny Financial Corp. (a) | 482 | 6,550 | ||||||
Kemper Corp. | 52 | 4,321 | ||||||
Kingstone Cos., Inc. (a) | 275 | 4,623 | ||||||
Kinsale Capital Group, Inc. | 264 | 17,625 | ||||||
KKR Real Estate Finance Trust, Inc. REIT | 210 | 4,278 | ||||||
Ladder Capital Corp. REIT | 738 | 13,542 | ||||||
Ladenburg Thalmann Financial Services, Inc. | 1,180 | 3,469 | ||||||
Lakeland Bancorp, Inc. | 441 | 7,378 | ||||||
Lakeland Financial Corp. (a) | 191 | 9,229 | ||||||
LCNB Corp. | 176 | 2,992 | ||||||
LegacyTexas Financial Group, Inc. | 239 | 9,973 | ||||||
Level One Bancorp, Inc. | 73 | 1,686 | ||||||
Live Oak Bancshares, Inc. (a) | 49 | 794 | ||||||
Luther Burbank Corp. | 232 | 2,427 | ||||||
Macatawa Bank Corp. | 700 | 7,637 |
Number | Value | |||||||
Financials (Continued) | ||||||||
Malvern Bancorp, Inc.* | 92 | $ | 1,910 | |||||
Marlin Business Services Corp. | 307 | 7,227 | ||||||
MB Financial, Inc. | 149 | 6,745 | ||||||
MBT Financial Corp. | 490 | 5,424 | ||||||
Mercantile Bank Corp. | 252 | 8,727 | ||||||
Merchants Bancorp | 74 | 1,543 | ||||||
Meridian Bancorp, Inc. | 387 | 6,304 | ||||||
Meta Financial Group, Inc. (a) | 212 | 4,950 | ||||||
Metropolitan Bank Holding Corp.* | 94 | 3,622 | ||||||
MGIC Investment Corp.* | 421 | 5,465 | ||||||
Mid Penn Bancorp, Inc. | 81 | 1,984 | ||||||
Middlefield Banc Corp. | 88 | 3,692 | ||||||
Midland States Bancorp, Inc. | 258 | 6,579 | ||||||
MidSouth Bancorp, Inc. (a) | 295 | 3,360 | ||||||
MidWestOne Financial Group, Inc. | 197 | 6,125 | ||||||
Moelis & Co., Class A | 283 | 12,625 | ||||||
Mr Cooper Group, Inc.*(a) | 296 | 4,040 | ||||||
MutualFirst Financial, Inc. | 142 | 4,464 | ||||||
MVB Financial Corp. | 257 | 3,932 | ||||||
National Bank Holdings Corp., Class A | 287 | 10,369 | ||||||
National Bankshares, Inc. | 131 | 5,175 | ||||||
National Commerce Corp.* | 170 | 7,427 | ||||||
National General Holdings Corp. | 367 | 9,472 | ||||||
National Western Life Group, Inc., Class A | 30 | 9,240 | ||||||
Navigators Group, Inc. | 215 | 15,003 | ||||||
NBT Bancorp, Inc. (a) | 271 | 10,469 | ||||||
Nelnet, Inc., Class A (a) | 139 | 7,620 | ||||||
New York Mortgage Trust, Inc. REIT (a) | 2,384 | 14,304 | ||||||
NI Holdings, Inc.* | 225 | 3,395 | ||||||
Nicolet Bankshares, Inc.* | 137 | 7,867 | ||||||
NMI Holdings, Inc., Class A* | 540 | 13,041 | ||||||
Northeast Bancorp | 164 | 3,326 | ||||||
Northfield Bancorp, Inc. (a) | 443 | 6,605 | ||||||
Northrim BanCorp, Inc. | 196 | 7,352 | ||||||
Northwest Bancshares, Inc. (a) | 739 | 13,745 | ||||||
Norwood Financial Corp. | 175 | 5,362 | ||||||
Oak Valley Bancorp | 164 | 2,927 | ||||||
OceanFirst Financial Corp. | 354 | 8,921 | ||||||
OFG Bancorp | 853 | 17,649 | ||||||
Ohio Valley Banc Corp. | 96 | 3,505 | ||||||
Old Line Bancshares, Inc. | 257 | 7,360 | ||||||
Old National Bancorp (a) | 466 | 8,285 | ||||||
Old Second Bancorp, Inc. | 724 | 10,339 | ||||||
On Deck Capital, Inc.* | 675 | 4,145 | ||||||
OP Bancorp | 276 | 2,506 | ||||||
Oppenheimer Holdings, Inc., Class A | 263 | 7,422 | ||||||
Opus Bank | 122 | 2,778 | ||||||
Orchid Island Capital, Inc. REIT (a) | 825 | 5,511 | ||||||
Origin Bancorp, Inc. (a) | 132 | 4,760 | ||||||
Oritani Financial Corp. (a) | 664 | 11,919 | ||||||
Orrstown Financial Services, Inc. (a) | 200 | 4,084 | ||||||
Pacific City Financial Corp. | 424 | 7,208 | ||||||
Pacific Mercantile Bancorp* | 238 | 1,964 | ||||||
Pacific Premier Bancorp, Inc. | 101 | 3,015 | ||||||
Park National Corp. (a) | 70 | 7,011 | ||||||
Parke Bancorp, Inc. | 297 | 6,590 | ||||||
PCSB Financial Corp. | 294 | 5,977 |
See Notes to Financial Statements. | 51 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 2000 Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Financials (Continued) | ||||||||
PDL Community Bancorp* | 137 | $ | 1,793 | |||||
Peapack Gladstone Financial Corp. | 224 | 6,514 | ||||||
Penns Woods Bancorp, Inc. | 116 | 5,088 | ||||||
PennyMac Financial Services, Inc. (a) | 320 | 7,462 | ||||||
PennyMac Mortgage Investment Trust REIT | 1,322 | 26,942 | ||||||
Peoples Bancorp of North Carolina, Inc. | 133 | 3,751 | ||||||
Peoples Bancorp, Inc. | 354 | 11,802 | ||||||
Peoples Financial Services Corp. | 151 | 6,606 | ||||||
People’s Utah Bancorp | 268 | 7,868 | ||||||
Piper Jaffray Cos. | 133 | 9,305 | ||||||
PJT Partners, Inc., Class A | 153 | 7,073 | ||||||
PRA Group, Inc.*(a) | 193 | 6,213 | ||||||
Preferred Bank (a) | 129 | 6,607 | ||||||
Premier Financial Bancorp, Inc. | 366 | 6,065 | ||||||
Primerica, Inc. (a) | 50 | 6,252 | ||||||
ProAssurance Corp. | 142 | 5,765 | ||||||
Protective Insurance Corp., Class B | 239 | 5,045 | ||||||
Provident Bancorp, Inc.* | 85 | 1,958 | ||||||
Provident Financial Services, Inc. (a) | 353 | 9,690 | ||||||
Prudential Bancorp, Inc. | 247 | 4,488 | ||||||
Pzena Investment Management, Inc., Class A | 625 | 6,225 | ||||||
QCR Holdings, Inc. | 169 | 6,042 | ||||||
Radian Group, Inc. | 286 | 5,823 | ||||||
RBB Bancorp | 199 | 4,308 | ||||||
Ready Capital Corp. REIT (a) | 743 | 11,985 | ||||||
Redwood Trust, Inc. REIT | 206 | 3,152 | ||||||
Regional Management Corp.* | 387 | 10,523 | ||||||
Reliant Bancorp, Inc. (a) | 107 | 2,348 | ||||||
Renasant Corp. | 168 | 6,431 | ||||||
Republic Bancorp, Inc., Class A | 198 | 8,958 | ||||||
Republic First Bancorp, Inc.* | 235 | 1,504 | ||||||
Riverview Bancorp, Inc. | 561 | 4,342 | ||||||
RLI Corp. (a) | 116 | 8,180 | ||||||
S&T Bancorp, Inc. (a) | 269 | 11,131 | ||||||
Safety Insurance Group, Inc. | 202 | 18,047 | ||||||
Sandy Spring Bancorp, Inc. | 246 | 8,627 | ||||||
SB One Bancorp | 162 | 3,831 | ||||||
Seacoast Banking Corp. of Florida* | 303 | 8,793 | ||||||
Select Bancorp, Inc.* | 279 | 3,228 | ||||||
Selective Insurance Group, Inc. | 143 | 9,432 | ||||||
ServisFirst Bancshares, Inc. (a) | 160 | 5,595 | ||||||
Shore Bancshares, Inc. | 325 | 5,119 | ||||||
SI Financial Group, Inc. | 329 | 4,853 | ||||||
Sierra Bancorp | 321 | 8,651 | ||||||
Silvercrest Asset Management Group, Inc., Class A | 317 | 4,752 | ||||||
Simmons First National Corp., Class A (a) | 169 | 4,534 | ||||||
SmartFinancial, Inc.* | 167 | 3,277 | ||||||
South State Corp. (a) | 65 | 4,618 | ||||||
Southern First Bancshares, Inc.* | 154 | 5,867 | ||||||
Southern Missouri Bancorp, Inc. | 123 | 4,450 | ||||||
Southern National Bancorp of Virginia, Inc. | 298 | 4,723 | ||||||
Southside Bancshares, Inc. (a) | 270 | 9,374 | ||||||
Spirit of Texas Bancshares, Inc.* | 115 | 2,484 |
Number | Value | |||||||
Financials (Continued) | ||||||||
State Auto Financial Corp. (a) | 148 | $ | 4,983 | |||||
Sterling Bancorp, Inc. | 188 | 1,897 | ||||||
Stewart Information Services Corp. | 465 | 19,962 | ||||||
Stifel Financial Corp. (a) | 114 | 6,205 | ||||||
Stock Yards Bancorp, Inc. | 212 | 7,551 | ||||||
Summit Financial Group, Inc. | 178 | 4,345 | ||||||
Territorial Bancorp, Inc. | 185 | 5,199 | ||||||
Third Point Reinsurance Ltd.* | 680 | 7,269 | ||||||
Timberland Bancorp, Inc. | 202 | 6,181 | ||||||
Tiptree, Inc. | 553 | 3,390 | ||||||
Tompkins Financial Corp. (a) | 127 | 10,212 | ||||||
Towne Bank | 199 | 5,486 | ||||||
TPG RE Finance Trust, Inc. REIT | 472 | 9,449 | ||||||
TriCo Bancshares | 208 | 8,366 | ||||||
TriState Capital Holdings, Inc.* | 323 | 7,303 | ||||||
Triumph Bancorp, Inc.* | 268 | 9,077 | ||||||
Trupanion, Inc.*(a) | 86 | 2,610 | ||||||
TrustCo Bank Corp. | 1,094 | 9,266 | ||||||
Trustmark Corp. (a) | 288 | 10,218 | ||||||
UMB Financial Corp. (a) | 69 | 4,748 | ||||||
Union Bankshares Corp. | 326 | 11,596 | ||||||
Union Bankshares, Inc. | 60 | 2,790 | ||||||
United Bankshares, Inc. (a) | 157 | 6,027 | ||||||
United Community Banks, Inc. | 269 | 7,449 | ||||||
United Community Financial Corp. | 1,099 | 11,012 | ||||||
United Financial Bancorp, Inc. | 540 | 8,386 | ||||||
United Fire Group, Inc. | 293 | 14,281 | ||||||
United Insurance Holdings Corp. (a) | 187 | 3,063 | ||||||
United Security Bancshares | 325 | 3,510 | ||||||
Unity Bancorp, Inc. | 228 | 5,037 | ||||||
Universal Insurance Holdings, Inc. | 529 | 20,652 | ||||||
Univest Financial Corp. | 359 | 9,517 | ||||||
Valley National Bancorp (a) | 562 | 5,935 | ||||||
Veritex Holdings, Inc. | 356 | 9,972 | ||||||
Virtus Investment Partners, Inc. (a) | 27 | 2,762 | ||||||
Waddell & Reed Financial, Inc., Class A (a) | 593 | 10,976 | ||||||
Walker & Dunlop, Inc. | 384 | 21,427 | ||||||
Washington Federal, Inc. (a) | 194 | 5,952 | ||||||
Washington Trust Bancorp, Inc. | 167 | 8,751 | ||||||
Waterstone Financial, Inc. | 845 | 14,230 | ||||||
WesBanco, Inc. | 213 | 9,038 | ||||||
West Bancorporation, Inc. | 305 | 7,052 | ||||||
Westamerica Bancorporation (a) | 146 | 9,385 | ||||||
Western Asset Mortgage Capital Corp. REIT | 1,851 | 18,566 | ||||||
Western New England Bancorp, Inc. | 565 | 5,548 | ||||||
Westwood Holdings Group, Inc. | 109 | 4,213 | ||||||
WisdomTree Investments, Inc. | 310 | 2,412 | ||||||
World Acceptance Corp.*(a) | 80 | 9,840 | ||||||
WSFS Financial Corp. | 192 | 8,310 | ||||||
|
| |||||||
2,808,263 | ||||||||
|
| |||||||
Health Care — 7.5% | ||||||||
Acceleron Pharma, Inc.*(a) | 32 | 1,409 | ||||||
Accuray, Inc.* | 2,510 | 12,098 | ||||||
Acorda Therapeutics, Inc.*(a) | 117 | 1,725 | ||||||
Addus HomeCare Corp.*(a) | 196 | 13,173 | ||||||
Allakos, Inc.* | 27 | 1,079 |
See Notes to Financial Statements. | 52 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 2000 Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Health Care (Continued) | ||||||||
Allscripts Healthcare Solutions, Inc.*(a) | 319 | $ | 3,420 | |||||
AMAG Pharmaceuticals, Inc.* | 156 | 2,323 | ||||||
Amedisys, Inc.* | 43 | 5,345 | ||||||
American Renal Associates Holdings, Inc.* | 134 | 1,674 | ||||||
AMN Healthcare Services, Inc.* | 116 | 5,801 | ||||||
Amphastar Pharmaceuticals, Inc.*(a) | 338 | 8,399 | ||||||
AngioDynamics, Inc.* | 736 | 16,494 | ||||||
ANI Pharmaceuticals, Inc.*(a) | 24 | 1,579 | ||||||
Anika Therapeutics, Inc.* | 98 | 3,198 | ||||||
Arcus Biosciences, Inc.* | 170 | 2,004 | ||||||
Arvinas, Inc.*(a) | 88 | 1,704 | ||||||
AtriCure, Inc.* | 193 | 6,164 | ||||||
Atrion Corp. | 18 | 14,155 | ||||||
Avanos Medical, Inc.*(a) | 45 | 2,119 | ||||||
Avrobio, Inc.*(a) | 74 | 1,233 | ||||||
AxoGen, Inc.* | 47 | 868 | ||||||
BioSpecifics Technologies Corp.* | 151 | 10,487 | ||||||
Brookdale Senior Living, Inc.* | 803 | 5,428 | ||||||
Cambrex Corp.*(a) | 201 | 8,309 | ||||||
Capital Senior Living Corp.* | 59 | 295 | ||||||
Cardiovascular Systems, Inc.* | 215 | 7,604 | ||||||
CareDx, Inc.* | 63 | 1,961 | ||||||
Civitas Solutions, Inc.* | 316 | 5,612 | ||||||
Community Health Systems, Inc.*(a) | 508 | 2,515 | ||||||
Computer Programs & Systems, Inc. | 152 | 5,007 | ||||||
CONMED Corp. | 184 | 14,150 | ||||||
Corcept Therapeutics, Inc.*(a) | 119 | 1,484 | ||||||
CorVel Corp.* | 130 | 8,749 | ||||||
Crinetics Pharmaceuticals, Inc.*(a) | 52 | 1,243 | ||||||
Cross Country Healthcare, Inc.* | 160 | 1,398 | ||||||
CryoLife, Inc.* | 86 | 2,544 | ||||||
Cutera, Inc.*(a) | 77 | 1,318 | ||||||
CytomX Therapeutics, Inc.* | 116 | 1,301 | ||||||
Eagle Pharmaceuticals, Inc.* | 35 | 1,752 | ||||||
Eidos Therapeutics, Inc.* | 91 | 1,681 | ||||||
Emergent BioSolutions, Inc.* | 83 | 4,843 | ||||||
Enanta Pharmaceuticals, Inc.*(a) | 141 | 14,458 | ||||||
ENDO International PLC* | 237 | 2,605 | ||||||
Ensign Group, Inc. | 327 | 16,170 | ||||||
Evolent Health, Inc., Class A*(a) | 80 | 1,055 | ||||||
Evolus, Inc.* | 131 | 3,464 | ||||||
FONAR Corp.* | 149 | 3,226 | ||||||
Genesis Healthcare, Inc., Class A* | 1,159 | 1,588 | ||||||
Genomic Health, Inc.* | 52 | 3,950 | ||||||
Glaukos Corp.*(a) | 85 | 6,304 | ||||||
Globus Medical, Inc., Class A* | 201 | 9,787 | ||||||
Haemonetics Corp.* | 85 | 7,384 | ||||||
Halozyme Therapeutics, Inc.*(a) | 132 | 2,277 | ||||||
Harvard Bioscience, Inc.* | 306 | 1,230 | ||||||
HealthEquity, Inc.*(a) | 40 | 3,219 | ||||||
HealthStream, Inc. | 492 | 13,678 | ||||||
Heska Corp.*(a) | 95 | 7,770 | ||||||
HMS Holdings Corp.* | 179 | 6,168 | ||||||
Homology Medicines, Inc.* | 111 | 3,272 | ||||||
Horizon Pharma PLC* | 56 | 1,625 | ||||||
Innoviva, Inc.*(a) | 408 | 6,406 |
Number | Value | |||||||
Health Care (Continued) | ||||||||
Inogen, Inc.*(a) | 28 | $ | 3,009 | |||||
Inovalon Holdings, Inc., Class A*(a) | 208 | 2,733 | ||||||
Integer Holdings Corp.* | 75 | 6,822 | ||||||
Intersect ENT, Inc.* | 74 | 2,515 | ||||||
IntriCon Corp.* | 83 | 2,234 | ||||||
iRadimed Corp.*(a) | 17 | 425 | ||||||
iRhythm Technologies, Inc.*(a) | 42 | 4,023 | ||||||
Ironwood Pharmaceuticals, Inc.*(a) | 57 | 812 | ||||||
Kezar Life Sciences, Inc.* | 58 | 1,180 | ||||||
Kindred Biosciences, Inc.* | 124 | 1,342 | ||||||
LeMaitre Vascular, Inc. | 160 | 4,787 | ||||||
LHC Group, Inc.* | 41 | 4,497 | ||||||
Ligand Pharmaceuticals, Inc.*(a) | 32 | 3,971 | ||||||
LivaNova PLC* | 61 | 5,685 | ||||||
LogicBio Therapeutics, Inc.* | 144 | 1,320 | ||||||
Luminex Corp. (a) | 745 | 18,983 | ||||||
MacroGenics, Inc.* | 139 | 2,780 | ||||||
Magellan Health, Inc.* | 91 | 6,198 | ||||||
Mallinckrodt PLC* | 656 | 16,374 | ||||||
MediciNova, Inc.* | 287 | 2,626 | ||||||
Medidata Solutions, Inc.*(a) | 26 | 1,950 | ||||||
Medpace Holdings, Inc.*(a) | 102 | 5,605 | ||||||
Meridian Bioscience, Inc. | 1,258 | 21,474 | ||||||
Merit Medical Systems, Inc.*(a) | 94 | 5,239 | ||||||
Momenta Pharmaceuticals, Inc.* | 149 | 2,099 | ||||||
Myriad Genetics, Inc.*(a) | 178 | 5,523 | ||||||
National HealthCare Corp. | 324 | 26,377 | ||||||
National Research Corp. | 145 | 5,645 | ||||||
Natus Medical, Inc.* | 111 | 3,067 | ||||||
Neogen Corp.* | 125 | 7,745 | ||||||
NeoGenomics, Inc.*(a) | 345 | 6,762 | ||||||
Nevro Corp.*(a) | 19 | 875 | ||||||
NextGen Healthcare, Inc.*(a) | 514 | 8,995 | ||||||
NuVasive, Inc.*(a) | 86 | 5,065 | ||||||
Omnicell, Inc.*(a) | 74 | 6,286 | ||||||
OraSure Technologies, Inc.* | 183 | 1,967 | ||||||
Orthofix Medical, Inc.* | 267 | 16,314 | ||||||
Osmotica Pharmaceuticals PLC* | 167 | 1,201 | ||||||
Oxford Immunotec Global PLC* | 260 | 4,339 | ||||||
Palatin Technologies, Inc.* | 458 | 452 | ||||||
Patterson Cos., Inc. (a) | 213 | 4,803 | ||||||
PDL BioPharma, Inc.*(a) | 5,339 | 19,381 | ||||||
Phibro Animal Health Corp., Class A | 209 | 6,124 | ||||||
Prestige Consumer Healthcare, Inc.*(a) | 158 | 4,623 | ||||||
Principia Biopharma, Inc.* | 57 | 2,019 | ||||||
Providence Service Corp.* | 283 | 20,184 | ||||||
Quidel Corp.*(a) | 32 | 2,098 | ||||||
R1 RCM, Inc.*(a) | 240 | 2,374 | ||||||
RadNet, Inc.* | 1,067 | 14,554 | ||||||
Retrophin, Inc.*(a) | 80 | 1,805 | ||||||
RTI Surgical, Inc.* | 949 | 4,726 | ||||||
SeaSpine Holdings Corp.* | 101 | 1,549 | ||||||
Select Medical Holdings Corp.* | 507 | 7,514 | ||||||
Simulations Plus, Inc. (a) | 324 | 6,645 | ||||||
Solid Biosciences, Inc.* | 52 | 556 | ||||||
STAAR Surgical Co.*(a) | 190 | 6,992 | ||||||
Supernus Pharmaceuticals, Inc.*(a) | 140 | 5,718 |
See Notes to Financial Statements. | 53 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 2000 Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Health Care (Continued) | ||||||||
Surmodics, Inc.* | 333 | $ | 19,431 | |||||
Tactile Systems Technology, Inc.*(a) | 212 | 16,114 | ||||||
Tenet Healthcare Corp.*(a) | 482 | 13,776 | ||||||
Tivity Health, Inc.*(a) | 180 | 3,852 | ||||||
Tricida, Inc.*(a) | 47 | 1,087 | ||||||
Triple-S Management Corp., Class B* | 86 | 2,188 | ||||||
US Physical Therapy, Inc. (a) | 185 | 20,394 | ||||||
Utah Medical Products, Inc. | 131 | 11,119 | ||||||
Vanda Pharmaceuticals, Inc.* | 342 | 6,922 | ||||||
Varex Imaging Corp.* | 204 | 6,414 | ||||||
Vocera Communications, Inc.* | 249 | 8,252 | ||||||
Wright Medical Group NV* | 90 | 2,818 | ||||||
Xencor, Inc.* | 104 | 3,155 | ||||||
|
| |||||||
765,764 | ||||||||
|
| |||||||
Industrials — 16.3% | ||||||||
AAON, Inc. (a) | 198 | 7,892 | ||||||
AAR Corp. | 221 | 8,073 | ||||||
Acacia Research Corp.* | 531 | 1,620 | ||||||
ACCO Brands Corp. | 538 | 5,003 | ||||||
Actuant Corp., Class A | 307 | 7,506 | ||||||
Advanced Disposal Services, Inc.* | 329 | 8,725 | ||||||
Advanced Drainage Systems, Inc. | 339 | 8,617 | ||||||
Aegion Corp.* | 307 | 5,330 | ||||||
Aerojet Rocketdyne Holdings, Inc.*(a) | 212 | 7,897 | ||||||
Aerovironment, Inc.*(a) | 160 | 12,747 | ||||||
Air Transport Services Group, Inc.* | 400 | 9,308 | ||||||
Aircastle Ltd. | 343 | 6,812 | ||||||
Alamo Group, Inc. | 79 | 7,587 | ||||||
Albany International Corp., Class A | 116 | 8,996 | ||||||
Allegiant Travel Co. (a) | 30 | 3,963 | ||||||
Allied Motion Technologies, Inc. | 98 | 4,082 | ||||||
Altra Industrial Motion Corp. | 103 | 3,276 | ||||||
Ameresco, Inc., Class A*(a) | 96 | 1,572 | ||||||
Apogee Enterprises, Inc. (a) | 170 | 6,067 | ||||||
Applied Industrial Technologies, Inc. | 28 | 1,628 | ||||||
ArcBest Corp. (a) | 351 | 12,225 | ||||||
Argan, Inc. | 335 | 15,577 | ||||||
Armstrong Flooring, Inc.* | 535 | 7,672 | ||||||
ASGN, Inc.* | 100 | 6,441 | ||||||
Astec Industries, Inc. | 118 | 4,503 | ||||||
Astronics Corp.* | 83 | 2,986 | ||||||
Atkore International Group, Inc.* | 819 | 18,919 | ||||||
Atlas Air Worldwide Holdings, Inc.*(a) | 172 | 9,243 | ||||||
Avis Budget Group, Inc.* | 74 | 2,651 | ||||||
Axon Enterprise, Inc.* | 161 | 8,667 | ||||||
AZZ, Inc. | 149 | 6,857 | ||||||
Barnes Group, Inc. | 99 | 5,749 | ||||||
Barrett Business Services, Inc. | 117 | 9,189 | ||||||
Beacon Roofing Supply, Inc.* | 19 | 689 | ||||||
Blue Bird Corp.*(a) | 424 | 7,886 | ||||||
BlueLinx Holdings, Inc.*(a) | 65 | 2,083 | ||||||
BMC Stock Holdings, Inc.* | 316 | 6,045 | ||||||
Brady Corp., Class A (a) | 357 | 16,890 | ||||||
Briggs & Stratton Corp. (a) | 331 | 4,339 | ||||||
BrightView Holdings, Inc.* | 135 | 1,822 | ||||||
Brink’s Co. (a) | 10 | 789 |
Number | Value | |||||||
Industrials (Continued) | ||||||||
Builders FirstSource, Inc.* | 105 | $ | 1,463 | |||||
Caesarstone Ltd. (a) | 173 | 2,906 | ||||||
CAI International, Inc.*(a) | 92 | 2,168 | ||||||
Casella Waste Systems, Inc., Class A* | 417 | 14,712 | ||||||
CBIZ, Inc.* | 991 | 20,444 | ||||||
CECO Environmental Corp.* | 461 | 3,513 | ||||||
Charah Solutions, Inc.* | 204 | 1,236 | ||||||
Chart Industries, Inc.* | 51 | 4,502 | ||||||
Cimpress NV* | 37 | 3,053 | ||||||
Columbus McKinnon Corp. | 284 | 10,636 | ||||||
Comfort Systems USA, Inc. | 206 | 11,046 | ||||||
Commercial Vehicle Group, Inc.* | 167 | 1,336 | ||||||
Continental Building Products, Inc.* | 445 | 12,829 | ||||||
Costamare, Inc. | 897 | 4,664 | ||||||
Covanta Holding Corp. (a) | 448 | 7,607 | ||||||
Covenant Transportation Group, Inc., Class A* | 132 | 3,011 | ||||||
CRA International, Inc. | 273 | 13,639 | ||||||
CSW Industrials, Inc.* | 377 | 21,406 | ||||||
Cubic Corp. | 77 | 4,751 | ||||||
Daseke, Inc.* | 194 | 921 | ||||||
Deluxe Corp. | 105 | 4,886 | ||||||
DMC Global, Inc. | 139 | 6,530 | ||||||
Douglas Dynamics, Inc. | 350 | 14,763 | ||||||
Ducommun, Inc.* | 192 | 8,147 | ||||||
DXP Enterprises, Inc.* | 105 | 3,714 | ||||||
Dycom Industries, Inc.*(a) | 25 | 1,127 | ||||||
Eastern Co. | 202 | 5,878 | ||||||
Echo Global Logistics, Inc.* | 356 | 8,551 | ||||||
EMCOR Group, Inc. | 130 | 9,377 | ||||||
Encore Wire Corp. | 354 | 20,971 | ||||||
EnerSys | 109 | 8,046 | ||||||
Ennis, Inc. | 951 | 20,161 | ||||||
EnPro Industries, Inc. (a) | 65 | 4,458 | ||||||
ESCO Technologies, Inc. | 193 | 13,354 | ||||||
Esterline Technologies Corp.* | 77 | 9,375 | ||||||
Exponent, Inc. | 361 | 20,443 | ||||||
Federal Signal Corp. | 301 | 7,399 | ||||||
Forrester Research, Inc. | 169 | 8,484 | ||||||
Forward Air Corp. | 259 | 16,744 | ||||||
Foundation Building Materials, Inc.* | 313 | 3,481 | ||||||
Franklin Covey Co.* | 223 | 5,802 | ||||||
Franklin Electric Co., Inc. | 173 | 9,205 | ||||||
FreightCar America, Inc.*(a) | 171 | 1,325 | ||||||
FTI Consulting, Inc.* | 182 | 13,497 | ||||||
GATX Corp. (a) | 126 | 10,017 | ||||||
Gencor Industries, Inc.* | 197 | 2,622 | ||||||
Generac Holdings, Inc.* | 133 | 6,857 | ||||||
General Finance Corp.* | 431 | 4,655 | ||||||
Gibraltar Industries, Inc.* | 272 | 11,016 | ||||||
Global Brass & Copper Holdings, Inc. | 344 | 11,610 | ||||||
GMS, Inc.* | 102 | 1,994 | ||||||
Gorman-Rupp Co. | 344 | 11,631 | ||||||
GP Strategies Corp.* | 58 | 971 | ||||||
Graham Corp. | 204 | 4,621 | ||||||
Granite Construction, Inc. | 148 | 6,891 | ||||||
Great Lakes Dredge & Dock Corp.* | 766 | 6,817 |
See Notes to Financial Statements. | 54 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 2000 Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Industrials (Continued) | ||||||||
Greenbrier Cos., Inc. (a) | 153 | $ | 6,311 | |||||
Griffon Corp. | 342 | 6,101 | ||||||
H&E Equipment Services, Inc. | 82 | 2,361 | ||||||
Harsco Corp.* | 310 | 6,938 | ||||||
Hawaiian Holdings, Inc. (a) | 215 | 6,396 | ||||||
Healthcare Services Group, Inc. (a) | 60 | 2,291 | ||||||
Heartland Express, Inc. (a) | 173 | 3,476 | ||||||
Heidrick & Struggles International, Inc. | 548 | 23,624 | ||||||
Herc Holdings, Inc.* | 41 | 1,804 | ||||||
Heritage-Crystal Clean, Inc.* | 349 | 8,432 | ||||||
Herman Miller, Inc. | 291 | 10,674 | ||||||
Hertz Global Holdings, Inc.* | 29 | 554 | ||||||
Hillenbrand, Inc. | 308 | 13,641 | ||||||
HNI Corp. | 287 | 11,087 | ||||||
Hub Group, Inc., Class A* | 201 | 8,639 | ||||||
Hurco Cos., Inc. | 254 | 10,892 | ||||||
Huron Consulting Group, Inc.* | 168 | 7,698 | ||||||
Hyster-Yale Materials Handling, Inc. | 96 | 6,495 | ||||||
ICF International, Inc. | 360 | 27,187 | ||||||
IES Holdings, Inc.* | 242 | 4,448 | ||||||
Infrastructure and Energy Alternatives, Inc.* | 194 | 1,209 | ||||||
InnerWorkings, Inc.*(a) | 342 | 1,659 | ||||||
Insperity, Inc. | 101 | 12,753 | ||||||
Insteel Industries, Inc. (a) | 457 | 10,397 | ||||||
Interface, Inc. | 354 | 6,283 | ||||||
John Bean Technologies Corp. (a) | 35 | 3,280 | ||||||
Kadant, Inc. | 56 | 4,897 | ||||||
Kaman Corp. | 181 | 11,146 | ||||||
KBR, Inc. | 690 | 13,634 | ||||||
Kelly Services, Inc., Class A | 247 | 5,960 | ||||||
Kennametal, Inc. (a) | 106 | 3,995 | ||||||
KeyW Holding Corp.* | 177 | 1,310 | ||||||
Kforce, Inc. | 308 | 11,399 | ||||||
Kimball International, Inc., Class B | 605 | 9,492 | ||||||
Knoll, Inc. | 556 | 11,765 | ||||||
Korn Ferry | 246 | 12,002 | ||||||
Kratos Defense & Security Solutions, Inc.*(a) | 125 | 2,149 | ||||||
Lawson Products, Inc.* | 42 | 1,326 | ||||||
LB Foster Co., Class A* | 176 | 3,047 | ||||||
Lindsay Corp. (a) | 135 | 12,483 | ||||||
LSC Communications, Inc. | 68 | 575 | ||||||
Lydall, Inc.* | 101 | 2,843 | ||||||
Manitex International, Inc.* | 226 | 1,727 | ||||||
Manitowoc Co., Inc.*(a) | 57 | 1,025 | ||||||
Marten Transport Ltd. | 497 | 9,269 | ||||||
Masonite International Corp.* | 151 | 8,373 | ||||||
MasTec, Inc.* | 81 | 3,498 | ||||||
Matson, Inc. | 381 | 13,758 | ||||||
Matthews International Corp., Class A (a) | 174 | 6,920 | ||||||
McGrath RentCorp | 328 | 19,628 | ||||||
Mercury Systems, Inc.*(a) | 64 | 4,065 | ||||||
Meritor, Inc.* | 529 | 11,786 | ||||||
Mesa Air Group, Inc.* | 235 | 2,366 | ||||||
Milacron Holdings Corp.* | 324 | 4,533 | ||||||
Miller Industries, Inc. | 471 | 15,972 |
Number | Value | |||||||
Industrials (Continued) | ||||||||
Mistras Group, Inc.* | 128 | $ | 2,020 | |||||
Mobile Mini, Inc. (a) | 247 | 8,894 | ||||||
Moog, Inc., Class A | 73 | 6,859 | ||||||
MRC Global, Inc.*(a) | 521 | 8,784 | ||||||
MSA Safety, Inc. | 46 | 4,756 | ||||||
Mueller Industries, Inc. | 396 | 13,088 | ||||||
Mueller Water Products, Inc., Class A | 701 | 7,318 | ||||||
MYR Group, Inc.* | 296 | 9,928 | ||||||
National Presto Industries, Inc. (a) | 128 | 14,354 | ||||||
Navigant Consulting, Inc. | 972 | 20,013 | ||||||
NCI Building Systems, Inc.* | 202 | 1,418 | ||||||
Nexeo Solutions, Inc.*(a) | 1,190 | 11,817 | ||||||
NOW, Inc.*(a) | 532 | 7,677 | ||||||
NV5 Global, Inc.*(a) | 87 | 6,896 | ||||||
Omega Flex, Inc. | 29 | 2,143 | ||||||
Orion Group Holdings, Inc.* | 233 | 990 | ||||||
PAM Transportation Services, Inc.* | 79 | 4,002 | ||||||
Park-Ohio Holdings Corp. | 118 | 3,751 | ||||||
Patrick Industries, Inc.*(a) | 3 | 136 | ||||||
PGT Innovations, Inc.* | 491 | 7,404 | ||||||
Pitney Bowes, Inc. (a) | 714 | 5,134 | ||||||
Powell Industries, Inc. | 179 | 5,744 | ||||||
Preformed Line Products Co. | 79 | 4,716 | ||||||
Primoris Services Corp. | 595 | 13,905 | ||||||
Proto Labs, Inc.* | 43 | 4,859 | ||||||
Quad/Graphics, Inc. (a) | 290 | 4,231 | ||||||
Quanex Building Products Corp. | 212 | 3,644 | ||||||
Radiant Logistics, Inc.* | 1,190 | 7,604 | ||||||
Raven Industries, Inc. | 423 | 16,886 | ||||||
RBC Bearings, Inc.* | 50 | 7,008 | ||||||
Resources Connection, Inc. | 486 | 8,442 | ||||||
Rexnord Corp.* | 278 | 7,414 | ||||||
RR Donnelley & Sons Co. (a) | 917 | 4,933 | ||||||
Rush Enterprises, Inc., Class A | 126 | 5,282 | ||||||
Rush Enterprises, Inc., Class B | 38 | 1,569 | ||||||
Saia, Inc.* | 130 | 8,601 | ||||||
Simpson Manufacturing Co., Inc. (a) | 159 | 9,529 | ||||||
SiteOne Landscape Supply, Inc.*(a) | 41 | 2,202 | ||||||
SkyWest, Inc. | 108 | 5,836 | ||||||
SP Plus Corp.* | 260 | 8,944 | ||||||
Spartan Motors, Inc. | 170 | 1,554 | ||||||
Spirit Airlines, Inc.* | 57 | 3,206 | ||||||
SPX Corp.* | 207 | 7,527 | ||||||
SPX FLOW, Inc.* | 66 | 2,278 | ||||||
Standex International Corp. | 104 | 8,529 | ||||||
Steelcase, Inc., Class A | 1,275 | 22,325 | ||||||
Sterling Construction Co., Inc.* | 126 | 1,841 | ||||||
Sun Hydraulics Corp. | 104 | 4,948 | ||||||
Sunrun, Inc.* | 227 | 3,521 | ||||||
Systemax, Inc. | 34 | 689 | ||||||
Team, Inc.* | 228 | 3,561 | ||||||
Tennant Co. | 8 | 506 | ||||||
Tetra Tech, Inc. | 234 | 14,045 | ||||||
Thermon Group Holdings, Inc.* | 187 | 4,653 | ||||||
Titan International, Inc. | 56 | 351 | ||||||
Titan Machinery, Inc.* | 142 | 2,728 | ||||||
TPI Composites, Inc.* | 307 | 9,274 |
See Notes to Financial Statements. | 55 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 2000 Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Industrials (Continued) | ||||||||
Trex Co., Inc.*(a) | 35 | $ | 2,623 | |||||
TriMas Corp.* | 463 | 14,969 | ||||||
TriNet Group, Inc.* | 73 | 4,474 | ||||||
Triton International Ltd/Bermuda (a) | 67 | 2,205 | ||||||
TrueBlue, Inc.* | 382 | 8,794 | ||||||
Tutor Perini Corp.*(a) | 77 | 1,449 | ||||||
Twin Disc, Inc.* | 127 | 2,247 | ||||||
UniFirst Corp. | 74 | 10,643 | ||||||
Universal Forest Products, Inc. | 406 | 12,574 | ||||||
Universal Logistics Holdings, Inc. | 200 | 4,430 | ||||||
US Ecology, Inc. | 190 | 10,902 | ||||||
US Xpress Enterprises, Inc., Class A*(a) | 201 | 1,759 | ||||||
USA Truck, Inc.* | 336 | 5,779 | ||||||
Vectrus, Inc.* | 54 | 1,456 | ||||||
Veritiv Corp.* | 63 | 1,820 | ||||||
Viad Corp. | 291 | 16,849 | ||||||
Vicor Corp.*(a) | 114 | 3,623 | ||||||
VSE Corp. (a) | 86 | 3,040 | ||||||
Wabash National Corp. | 132 | 1,959 | ||||||
WageWorks, Inc.* | 83 | 2,731 | ||||||
Watts Water Technologies, Inc., Class A | 125 | 10,068 | ||||||
Werner Enterprises, Inc. (a) | 206 | 7,113 | ||||||
Wesco Aircraft Holdings, Inc.* | 860 | 7,301 | ||||||
Willdan Group, Inc.* | 134 | 5,076 | ||||||
Willis Lease Finance Corp.* | 197 | 8,286 | ||||||
Woodward, Inc. | 34 | 3,276 | ||||||
|
| |||||||
1,670,472 | ||||||||
|
| |||||||
Information Technology — 10.1% | ||||||||
3D Systems Corp.*(a) | 194 | 2,739 | ||||||
8x8, Inc.*(a) | 300 | 5,901 | ||||||
A10 Networks, Inc.* | 220 | 1,536 | ||||||
ACI Worldwide, Inc.* | 215 | 6,852 | ||||||
Advanced Energy Industries, Inc.*(a) | 95 | 4,785 | ||||||
Agilysys, Inc.* | 312 | 6,521 | ||||||
Alarm.com Holdings, Inc.*(a) | 70 | 4,594 | ||||||
Ambarella, Inc*(a) | 45 | 1,817 | ||||||
Amber Road, Inc.* | 161 | 1,584 | ||||||
American Software, Inc., Class A | 597 | 6,919 | ||||||
Amkor Technology, Inc.* | 184 | 1,616 | ||||||
Anixter International, Inc.* | 149 | 8,743 | ||||||
Appfolio, Inc., Class A* | 191 | 13,805 | ||||||
Arlo Technologies, Inc.*(a) | 575 | 2,490 | ||||||
Avaya Holdings Corp.* | 141 | 2,184 | ||||||
AVX Corp. | 167 | 3,039 | ||||||
Axcelis Technologies, Inc.* | 158 | 3,321 | ||||||
AXT, Inc.*(a) | 313 | 1,396 | ||||||
Badger Meter, Inc. (a) | 233 | 13,710 | ||||||
Bel Fuse, Inc., Class B | 196 | 4,792 | ||||||
Belden, Inc. (a) | 63 | 3,893 | ||||||
Benchmark Electronics, Inc. | 597 | 16,358 | ||||||
Benefitfocus, Inc.*(a) | 45 | 2,210 | ||||||
Blackbaud, Inc. (a) | 33 | 2,549 | ||||||
Blackline, Inc.*(a) | 56 | 2,931 | ||||||
Bottomline Technologies DE, Inc.* | 168 | 8,380 | ||||||
Box, Inc., Class A* | 105 | 2,125 | ||||||
Brooks Automation, Inc. (a) | 119 | 3,821 |
Number | Value | |||||||
Information Technology (Continued) | ||||||||
Cabot Microelectronics Corp. | 94 | $ | 10,631 | |||||
CACI International, Inc., Class A* | 51 | 9,295 | ||||||
CalAmp Corp.* | 227 | 3,155 | ||||||
Carbon Black, Inc.* | 141 | 1,846 | ||||||
Carbonite, Inc.* | 34 | 791 | ||||||
Cardtronics PLC, Class A* | 225 | 6,640 | ||||||
Casa Systems, Inc.* | 135 | 1,376 | ||||||
Cass Information Systems, Inc. | 139 | 7,260 | ||||||
CEVA, Inc.*(a) | 79 | 2,198 | ||||||
Ciena Corp.* | 302 | 12,883 | ||||||
Cirrus Logic, Inc.* | 158 | 6,341 | ||||||
Cision Ltd.* | 364 | 4,739 | ||||||
Clearfield, Inc.* | 127 | 1,844 | ||||||
Cohu, Inc. | 328 | 5,868 | ||||||
CommVault Systems, Inc.* | 89 | 5,998 | ||||||
Comtech Telecommunications Corp. | 313 | 8,294 | ||||||
Control4 Corp.* | 53 | 955 | ||||||
Cornerstone OnDemand, Inc.* | 82 | 4,633 | ||||||
Coupa Software, Inc.*(a) | 53 | 4,992 | ||||||
Cray, Inc.*(a) | 55 | 1,349 | ||||||
Cree, Inc.*(a) | 44 | 2,394 | ||||||
CSG Systems International, Inc. | 227 | 9,432 | ||||||
CTS Corp. | 476 | 15,289 | ||||||
Daktronics, Inc. | 743 | 6,033 | ||||||
DASAN Zhone Solutions, Inc.* | 107 | 1,480 | ||||||
Digi International, Inc.* | 780 | 10,296 | ||||||
Diodes, Inc.* | 337 | 13,591 | ||||||
Ebix, Inc. (a) | 33 | 1,923 | ||||||
eGain Corp.* | 173 | 1,962 | ||||||
Electronics For Imaging, Inc.*(a) | 224 | 6,057 | ||||||
Ellie Mae, Inc.*(a) | 26 | 2,587 | ||||||
Endurance International Group Holdings, Inc.*(a) | 229 | 1,603 | ||||||
Entegris, Inc. (a) | 118 | 4,169 | ||||||
Envestnet, Inc.* | 110 | 6,711 | ||||||
ePlus, Inc.* | 225 | 20,124 | ||||||
Everbridge, Inc.*(a) | 34 | 2,404 | ||||||
Everi Holdings, Inc.* | 331 | 2,545 | ||||||
EVERTEC, Inc. | 542 | 15,512 | ||||||
Evo Payments, Inc., Class A* | 98 | 2,619 | ||||||
ExlService Holdings, Inc.* | 138 | 8,473 | ||||||
Fabrinet* | 311 | 18,194 | ||||||
FARO Technologies, Inc.* | 90 | 4,123 | ||||||
Finisar Corp.* | 102 | 2,498 | ||||||
Fitbit, Inc., Class A*(a) | 171 | 1,012 | ||||||
Five9, Inc.* | 115 | 6,100 | ||||||
FormFactor, Inc.* | 396 | 6,277 | ||||||
GTT Communications, Inc.*(a) | 19 | 594 | ||||||
Hackett Group, Inc. | 450 | 7,317 | ||||||
Harmonic, Inc.*(a) | 370 | 2,042 | ||||||
I3 Verticals, Inc., Class A* | 76 | 1,599 | ||||||
II-VI, Inc.*(a) | 71 | 3,016 | ||||||
Immersion Corp.*(a) | 137 | 1,230 | ||||||
Information Services Group, Inc.* | 1,032 | 4,448 | ||||||
Inphi Corp.* | 105 | 4,538 | ||||||
Insight Enterprises, Inc.* | 59 | 3,293 | ||||||
Instructure, Inc.*(a) | 85 | 3,972 |
See Notes to Financial Statements. | 56 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 2000 Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Information Technology (Continued) | ||||||||
Integrated Device Technology, Inc.* | 75 | $ | 3,625 | |||||
InterDigital, Inc. | 140 | 9,762 | ||||||
Iteris, Inc.* | 39 | 168 | ||||||
Itron, Inc.* | 26 | 1,378 | ||||||
j2 Global, Inc. (a) | 65 | 5,526 | ||||||
KEMET Corp. | 359 | 6,803 | ||||||
Kimball Electronics, Inc.* | 778 | 12,059 | ||||||
Knowles Corp.*(a) | 440 | 7,163 | ||||||
KVH Industries, Inc.* | 170 | 1,931 | ||||||
Lattice Semiconductor Corp.* | 541 | 6,384 | ||||||
Limelight Networks, Inc.* | 468 | 1,367 | ||||||
LivePerson, Inc.* | 357 | 9,982 | ||||||
LiveRamp Holdings, Inc.*(a) | 144 | 7,740 | ||||||
Lumentum Holdings, Inc.* | 54 | 2,686 | ||||||
ManTech International Corp., Class A | 321 | 17,446 | ||||||
MAXIMUS, Inc. | 71 | 5,018 | ||||||
Mesa Laboratories, Inc. (a) | 42 | 9,664 | ||||||
Methode Electronics, Inc. | 161 | 4,518 | ||||||
MicroStrategy, Inc., Class A* | 74 | 10,471 | ||||||
Mitek Systems, Inc.* | 199 | 2,151 | ||||||
MobileIron, Inc.* | 363 | 1,837 | ||||||
Model N, Inc.* | 101 | 1,747 | ||||||
Monotype Imaging Holdings, Inc. | 189 | 3,704 | ||||||
MTS Systems Corp. (a) | 152 | 8,102 | ||||||
Nanometrics, Inc.* | 398 | 11,327 | ||||||
Napco Security Technologies, Inc.* | 475 | 10,208 | ||||||
NETGEAR, Inc.*(a) | 221 | 7,923 | ||||||
NetScout Systems, Inc.*(a) | 187 | 5,118 | ||||||
New Relic, Inc.* | 31 | 3,278 | ||||||
NIC, Inc. | 399 | 6,819 | ||||||
nLight, Inc.* | 93 | 1,989 | ||||||
Novanta, Inc.* | 88 | 7,192 | ||||||
NVE Corp. (a) | 107 | 11,002 | ||||||
OneSpan, Inc.*(a) | 326 | 6,944 | ||||||
OSI Systems, Inc.*(a) | 186 | 16,154 | ||||||
PAR Technology Corp.*(a) | 278 | 7,498 | ||||||
Park Electrochemical Corp. | 502 | 8,730 | ||||||
Paylocity Holding Corp.* | 50 | 4,379 | ||||||
PC Connection, Inc. | 411 | 16,539 | ||||||
PDF Solutions, Inc.*(a) | 43 | 512 | ||||||
Perficient, Inc.* | 641 | 18,339 | ||||||
PFSweb, Inc.* | 400 | 2,504 | ||||||
Photronics, Inc.* | 1,635 | 16,039 | ||||||
Plantronics, Inc. | 168 | 8,440 | ||||||
Plexus Corp.* | 238 | 14,699 | ||||||
Power Integrations, Inc. (a) | 82 | 5,991 | ||||||
Presidio, Inc. | 185 | 3,077 | ||||||
PRGX Global, Inc.* | 631 | 5,919 | ||||||
Progress Software Corp. | 170 | 6,253 | ||||||
PROS Holdings, Inc.*(a) | 59 | 2,513 | ||||||
Q2 Holdings, Inc.*(a) | 119 | 8,190 | ||||||
QAD, Inc., Class A | 123 | 5,567 | ||||||
Qualys, Inc.*(a) | 55 | 4,600 | ||||||
Quantenna Communications, Inc.* | 521 | 9,456 | ||||||
Rambus, Inc.* | 308 | 3,163 | ||||||
Rapid7, Inc.* | 142 | 6,536 | ||||||
Rogers Corp.* | 33 | 5,123 |
Number | Value | |||||||
Information Technology (Continued) | ||||||||
Rudolph Technologies, Inc.* | 345 | $ | 7,790 | |||||
SailPoint Technologies Holding, Inc.* | 58 | 1,789 | ||||||
Sanmina Corp.* | 245 | 7,825 | ||||||
ScanSource, Inc.* | 298 | 11,190 | ||||||
Science Applications International Corp. | 144 | 10,757 | ||||||
SecureWorks Corp., Class A*(a) | 182 | 4,039 | ||||||
Semtech Corp.* | 121 | 6,660 | ||||||
Silicon Laboratories, Inc.* | 26 | 2,107 | ||||||
SMART Global Holdings, Inc.*(a) | 11 | 322 | ||||||
SPS Commerce, Inc.* | 155 | 16,551 | ||||||
Stratasys Ltd.*(a) | 193 | 5,493 | ||||||
SVMK, Inc.*(a) | 235 | 3,565 | ||||||
Sykes Enterprises, Inc.* | 458 | 13,552 | ||||||
Synaptics, Inc.*(a) | 35 | 1,465 | ||||||
Tech Data Corp.* | 14 | 1,431 | ||||||
TiVo Corp. (a) | 313 | 3,139 | ||||||
Trade Desk, Inc., Class A*(a) | 5 | 988 | ||||||
Travelport Worldwide Ltd. | 776 | 12,199 | ||||||
TTEC Holdings, Inc. | 31 | 1,062 | ||||||
TTM Technologies, Inc.*(a) | 565 | 6,848 | ||||||
Tucows, Inc., Class A* | 29 | 2,248 | ||||||
Ultra Clean Holdings, Inc.*(a) | 134 | 1,427 | ||||||
Unisys Corp.* | 267 | 3,607 | ||||||
Upland Software, Inc.* | 50 | 1,755 | ||||||
Varonis Systems, Inc.* | 86 | 4,899 | ||||||
Verint Systems, Inc.* | 110 | 5,858 | ||||||
ViaSat, Inc.*(a) | 37 | 2,795 | ||||||
Viavi Solutions, Inc.* | 349 | 4,582 | ||||||
Virtusa Corp.* | 152 | 7,671 | ||||||
Vishay Intertechnology, Inc. | 543 | 11,903 | ||||||
Vishay Precision Group, Inc.* | 330 | 11,504 | ||||||
Workiva, Inc.* | 164 | 8,110 | ||||||
Xperi Corp. | 216 | 5,184 | ||||||
Zix Corp.* | 1,161 | 10,484 | ||||||
|
| |||||||
1,041,208 | ||||||||
|
| |||||||
Materials — 3.8% | ||||||||
Advanced Emissions Solutions, Inc. | 241 | 2,849 | ||||||
AdvanSix, Inc.* | 180 | 5,895 | ||||||
AK Steel Holding Corp.*(a) | 527 | 1,592 | ||||||
Allegheny Technologies, Inc.*(a) | 98 | 2,806 | ||||||
American Vanguard Corp. | 365 | 6,855 | ||||||
Balchem Corp. | 82 | 7,276 | ||||||
Boise Cascade Co. | 288 | 8,032 | ||||||
Carpenter Technology Corp. | 153 | 7,182 | ||||||
Chase Corp. | 69 | 6,662 | ||||||
Clearwater Paper Corp.*(a) | 98 | 2,803 | ||||||
Coeur Mining, Inc.*(a) | 284 | 1,357 | ||||||
Commercial Metals Co. (a) | 452 | 7,481 | ||||||
Compass Minerals International, Inc. (a) | 128 | 6,705 | ||||||
Ferro Corp.* | 215 | 4,169 | ||||||
FutureFuel Corp. | 693 | 12,779 | ||||||
Gold Resource Corp. | 538 | 2,523 | ||||||
Greif, Inc., Class A | 89 | 3,578 | ||||||
Greif, Inc., Class B | 16 | 727 | ||||||
Hawkins, Inc. | 238 | 9,810 | ||||||
Haynes International, Inc. | 25 | 879 |
See Notes to Financial Statements. | 57 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 2000 Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Materials (Continued) | ||||||||
HB Fuller Co. (a) | 25 | $ | 1,262 | |||||
Hecla Mining Co. | 698 | 1,675 | ||||||
Ingevity Corp.* | 62 | 7,144 | ||||||
Innophos Holdings, Inc. | 95 | 3,154 | ||||||
Innospec, Inc. | 222 | 18,173 | ||||||
Kaiser Aluminum Corp. | 141 | 15,437 | ||||||
Koppers Holdings, Inc.* | 48 | 1,180 | ||||||
Kraton Corp.* | 115 | 4,092 | ||||||
Louisiana-Pacific Corp. | 403 | 10,184 | ||||||
Materion Corp. | 398 | 22,996 | ||||||
Minerals Technologies, Inc. | 110 | 6,512 | ||||||
Myers Industries, Inc. | 343 | 6,544 | ||||||
Neenah, Inc. (a) | 108 | 7,299 | ||||||
Olympic Steel, Inc. | 122 | 2,369 | ||||||
OMNOVA Solutions, Inc.* | 414 | 3,374 | ||||||
PH Glatfelter Co. | 279 | 3,753 | ||||||
PolyOne Corp. | 129 | 4,208 | ||||||
PQ Group Holdings, Inc.* | 96 | 1,572 | ||||||
Quaker Chemical Corp. (a) | 60 | 12,539 | ||||||
Rayonier Advanced Materials, Inc. (a) | 67 | 944 | ||||||
Schnitzer Steel Industries, Inc., Class A | 708 | 17,204 | ||||||
Schweitzer-Mauduit International, Inc. | 236 | 9,100 | ||||||
Sensient Technologies Corp. (a) | 92 | 5,952 | ||||||
Stepan Co. | 200 | 18,820 | ||||||
Summit Materials, Inc., Class A* | 92 | 1,564 | ||||||
SunCoke Energy, Inc.* | 322 | 3,194 | ||||||
Synalloy Corp. (a) | 388 | 5,925 | ||||||
TimkenSteel Corp.*(a) | 128 | 1,595 | ||||||
Trecora Resources*(a) | 164 | 1,574 | ||||||
Tredegar Corp. | 548 | 9,546 | ||||||
Trinseo SA | 87 | 4,367 | ||||||
UFP Technologies, Inc.* | 293 | 9,815 | ||||||
United States Lime & Minerals, Inc. | 53 | 3,816 | ||||||
Universal Stainless & Alloy Products, Inc.* | 113 | 2,077 | ||||||
US Concrete, Inc.*(a) | 28 | 1,123 | ||||||
Verso Corp., Class A* | 369 | 7,251 | ||||||
Warrior Met Coal, Inc. | 1,417 | 41,490 | ||||||
Worthington Industries, Inc. | 189 | 7,430 | ||||||
|
| |||||||
388,214 | ||||||||
|
| |||||||
Real Estate — 7.9% | ||||||||
Acadia Realty Trust REIT | 309 | 8,803 | ||||||
Agree Realty Corp. REIT | 213 | 14,000 | ||||||
Alexander & Baldwin, Inc. REIT*(a) | 348 | 7,980 | ||||||
Alexander’s, Inc. REIT | 11 | 4,199 | ||||||
Altisource Portfolio Solutions SA* | 60 | 1,504 | ||||||
American Assets Trust, Inc. REIT | 192 | 8,340 | ||||||
Americold Realty Trust REIT | 48 | 1,380 | ||||||
Armada Hoffler Properties, Inc. REIT | 922 | 14,107 | ||||||
Ashford Hospitality Trust, Inc. REIT | 982 | 5,264 | ||||||
Bluerock Residential Growth REIT, Inc. REIT | 377 | 3,996 | ||||||
Braemar Hotels & Resorts, Inc. REIT | 1,392 | 18,124 | ||||||
BRT Apartments Corp. REIT | 391 | 5,200 | ||||||
CareTrust REIT, Inc. REIT | 489 | 10,924 | ||||||
CatchMark Timber Trust, Inc., Class A REIT (a) | 263 | 2,512 |
Number | Value | |||||||
Real Estate (Continued) | ||||||||
CBL & Associates Properties, Inc. REIT (a) | 1,554 | $ | 3,326 | |||||
Cedar Realty Trust, Inc. REIT | 913 | 3,177 | ||||||
Chatham Lodging Trust REIT | 552 | 11,029 | ||||||
Chesapeake Lodging Trust REIT (a) | 486 | 14,638 | ||||||
City Office REIT, Inc. REIT | 549 | 6,039 | ||||||
Clipper Realty, Inc. REIT | 363 | 4,777 | ||||||
Community Healthcare Trust, Inc. REIT | 278 | 9,922 | ||||||
Consolidated-Tomoka Land Co. | 119 | 7,033 | ||||||
CoreCivic, Inc. REIT | 516 | 10,929 | ||||||
CorEnergy Infrastructure Trust, Inc. REIT (a) | 278 | 10,136 | ||||||
CorePoint Lodging, Inc. REIT | 511 | 7,139 | ||||||
Cousins Properties, Inc. REIT | 736 | 7,007 | ||||||
DiamondRock Hospitality Co. REIT | 926 | 9,899 | ||||||
Easterly Government Properties, Inc. REIT | 336 | 6,041 | ||||||
EastGroup Properties, Inc. REIT | 79 | 8,347 | ||||||
Essential Properties Realty Trust, Inc. REIT | 278 | 4,718 | ||||||
Farmland Partners, Inc. REIT | 238 | 1,223 | ||||||
First Industrial Realty Trust, Inc. REIT | 215 | 7,207 | ||||||
Forestar Group, Inc.* | 64 | 1,086 | ||||||
Four Corners Property Trust, Inc. REIT | 432 | 11,832 | ||||||
Franklin Street Properties Corp. REIT | 576 | 4,170 | ||||||
FRP Holdings, Inc.* | 199 | 10,199 | ||||||
GEO Group, Inc. REIT | 464 | 10,542 | ||||||
Getty Realty Corp. REIT | 379 | 12,488 | ||||||
Gladstone Commercial Corp. REIT | 381 | 7,864 | ||||||
Gladstone Land Corp. REIT | 202 | 2,468 | ||||||
Global Medical REIT, Inc. REIT | 418 | 4,305 | ||||||
Global Net Lease, Inc. REIT (a) | 564 | 10,062 | ||||||
Hannon Armstrong Sustainable Infrastructure Capital, Inc. REIT | 357 | 8,789 | ||||||
Healthcare Realty Trust, Inc. REIT | 124 | 3,925 | ||||||
Hersha Hospitality Trust REIT (a) | 1,064 | 20,056 | ||||||
HFF, Inc., Class A | 282 | 12,746 | ||||||
Independence Realty Trust, Inc. REIT (a) | 1,166 | 12,080 | ||||||
Industrial Logistics Properties Trust REIT | 353 | 7,364 | ||||||
InfraREIT, Inc. REIT | 530 | 11,315 | ||||||
Innovative Industrial Properties, Inc. REIT | 149 | 11,770 | ||||||
Investors Real Estate Trust REIT (a) | 94 | 5,676 | ||||||
iStar, Inc. REIT (a) | 922 | 8,067 | ||||||
Jernigan Capital, Inc. REIT (a) | 320 | 6,864 | ||||||
Kennedy-Wilson Holdings, Inc. (a) | 292 | 6,068 | ||||||
Kite Realty Group Trust REIT | 443 | 6,973 | ||||||
Lexington Realty Trust REIT | 902 | 8,380 | ||||||
LTC Properties, Inc. REIT | 259 | 11,505 | ||||||
Mack-Cali Realty Corp. REIT | 396 | 8,320 | ||||||
Marcus & Millichap, Inc.* | 234 | 9,037 | ||||||
Maui Land & Pineapple Co., Inc.* | 122 | 1,392 | ||||||
MedEquities Realty Trust, Inc. REIT | 503 | 5,357 | ||||||
Monmouth Real Estate Investment Corp. REIT | 597 | 7,916 | ||||||
National Health Investors, Inc. REIT | 100 | 7,803 | ||||||
National Storage Affiliates Trust REIT | 368 | 10,422 | ||||||
New Senior Investment Group, Inc. REIT | 736 | 3,798 | ||||||
Newmark Group, Inc., Class A | 834 | 7,723 | ||||||
NexPoint Residential Trust, Inc. REIT (a) | 433 | 15,562 |
See Notes to Financial Statements. | 58 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 2000 Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Real Estate (Continued) | ||||||||
NorthStar Realty Europe Corp. REIT | 323 | $ | 5,795 | |||||
Office Properties Income Trust REIT | 176 | 5,370 | ||||||
One Liberty Properties, Inc. REIT | 409 | 11,787 | ||||||
Pebblebrook Hotel Trust REIT | 104 | 3,329 | ||||||
Pennsylvania Real Estate Investment Trust REIT (a) | 472 | 2,903 | ||||||
Physicians Realty Trust REIT | 281 | 5,078 | ||||||
Piedmont Office Realty Trust, Inc., Class A REIT (a) | 603 | 12,343 | ||||||
PotlatchDeltic Corp. REIT | 190 | 6,838 | ||||||
Preferred Apartment Communities, Inc., Class A REIT | 361 | 5,502 | ||||||
PS Business Parks, Inc. REIT | 45 | 6,623 | ||||||
QTS Realty Trust, Inc., Class A REIT (a) | 92 | 3,839 | ||||||
RE/MAX Holdings, Inc., Class A (a) | 187 | 7,336 | ||||||
Retail Opportunity Investments Corp. REIT | 387 | 6,645 | ||||||
Rexford Industrial Realty, Inc. REIT | 197 | 6,753 | ||||||
RLJ Lodging Trust REIT | 303 | 5,627 | ||||||
RMR Group, Inc., Class A | 129 | 9,230 | ||||||
RPT Realty REIT (a) | 1,009 | 12,794 | ||||||
Ryman Hospitality Properties, Inc. REIT | 125 | 10,124 | ||||||
Sabra Health Care REIT, Inc. REIT | 307 | 5,563 | ||||||
Safehold, Inc. REIT (a) | 119 | 2,279 | ||||||
Saul Centers, Inc. REIT | 81 | 4,590 | ||||||
Seritage Growth Properties, Class A REIT (a) | 88 | 3,885 | ||||||
Spirit MTA REIT | 909 | 6,681 | ||||||
St Joe Co.*(a) | 255 | 3,963 | ||||||
STAG Industrial, Inc. REIT | 178 | 4,927 | ||||||
Stratus Properties, Inc.* | 71 | 1,725 | ||||||
Summit Hotel Properties, Inc. REIT (a) | 811 | 9,237 | ||||||
Sunstone Hotel Investors, Inc. REIT | 434 | 6,532 | ||||||
Tanger Factory Outlet Centers, Inc. REIT (a) | 388 | 8,377 | ||||||
Tejon Ranch Co.*(a) | 192 | 3,550 | ||||||
Terreno Realty Corp. REIT | 237 | 9,693 | ||||||
Tier REIT, Inc. REIT | 430 | 10,427 | ||||||
UMH Properties, Inc. REIT | 437 | 5,978 | ||||||
Universal Health Realty Income Trust REIT | 147 | 10,947 | ||||||
Urban Edge Properties REIT (a) | 259 | 5,030 | ||||||
Urstadt Biddle Properties, Inc., Class A REIT | 533 | 11,150 | ||||||
Washington Prime Group, Inc. REIT (a) | 3,087 | 17,843 | ||||||
Washington Real Estate Investment Trust REIT | 239 | 6,331 | ||||||
Whitestone REIT | 650 | 8,456 | ||||||
Xenia Hotels & Resorts, Inc. REIT | 462 | 9,023 | ||||||
|
| |||||||
816,947 | ||||||||
|
| |||||||
Utilities — 2.8% | ||||||||
ALLETE, Inc. | 82 | 6,646 | ||||||
American States Water Co. (a) | 172 | 12,234 | ||||||
AquaVenture Holdings, Ltd* | 90 | 1,991 | ||||||
Artesian Resources Corp., Class A | 204 | 8,005 | ||||||
Atlantic Power Corp.* | 2,603 | 7,002 |
Number | Value | |||||||
Utilities (Continued) | ||||||||
Avista Corp. | 141 | $ | 5,698 | |||||
Black Hills Corp. (a) | 121 | 8,589 | ||||||
California Water Service Group | 244 | 12,693 | ||||||
Chesapeake Utilities Corp. | 139 | 12,511 | ||||||
Clearway Energy, Inc., Class A | 590 | 8,708 | ||||||
Clearway Energy, Inc., Class C | 523 | 7,840 | ||||||
Connecticut Water Service, Inc. (a) | 142 | 9,525 | ||||||
Consolidated Water Co. Ltd. | 516 | 6,816 | ||||||
El Paso Electric Co. | 179 | 9,630 | ||||||
Global Water Resources, Inc. | 159 | 1,512 | ||||||
IDACORP, Inc. | 59 | 5,806 | ||||||
MGE Energy, Inc. | 137 | 8,757 | ||||||
Middlesex Water Co. | 217 | 12,775 | ||||||
New Jersey Resources Corp. (a) | 287 | 13,891 | ||||||
Northwest Natural Holding Co. | 183 | 11,752 | ||||||
NorthWestern Corp. | 142 | 9,733 | ||||||
ONE Gas, Inc. | 70 | 6,052 | ||||||
Ormat Technologies, Inc. (a) | 56 | 3,126 | ||||||
Otter Tail Corp. | 280 | 14,078 | ||||||
Pattern Energy Group, Inc., Class A (a) | 193 | 4,026 | ||||||
PNM Resources, Inc. | 173 | 7,557 | ||||||
Portland General Electric Co. | 158 | 7,922 | ||||||
Pure Cycle Corp.* | 425 | 4,310 | ||||||
RGC Resources, Inc. | 126 | 3,473 | ||||||
SJW Group | 182 | 11,133 | ||||||
South Jersey Industries, Inc. | 225 | 6,514 | ||||||
Southwest Gas Holdings, Inc. | 91 | 7,457 | ||||||
Spark Energy, Inc., Class A | 173 | 1,728 | ||||||
Spire, Inc. | 89 | 7,059 | ||||||
Unitil Corp. | 312 | 17,132 | ||||||
York Water Co. (a) | 167 | 6,087 | ||||||
|
| |||||||
289,768 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 10,162,597 | |||||||
|
| |||||||
RIGHTS — 0.0% | ||||||||
Financials — 0.0% | ||||||||
New Star Financial, Inc. CVR*(b) | 509 | 275 | ||||||
|
| |||||||
Materials — 0.0% | ||||||||
A Schulman, Inc. CVR*(b) | 392 | 169 | ||||||
|
| |||||||
TOTAL RIGHTS | 444 | |||||||
|
| |||||||
EXCHANGE-TRADED FUNDS — 0.3% | ||||||||
iShares Edge MSCI Multifactor USASmall-Cap ETF | 400 | 16,512 | ||||||
VanguardSmall-Cap ETF | 100 | 15,461 | ||||||
|
| |||||||
TOTAL EXCHANGE-TRADED FUNDS | 31,973 | |||||||
|
| |||||||
SECURITIES LENDING COLLATERAL — 2.2% |
| |||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares” , 2.31% (c)(d) | 226,111 | 226,111 | ||||||
|
|
See Notes to Financial Statements. | 59 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 2000 Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
CASH EQUIVALENTS — 0.7% | ||||||||
DWS Government Money Market Series “Institutional Shares” , 2.38% (c) | 74,530 | $ | 74,530 | |||||
|
| |||||||
TOTAL INVESTMENTS — 102.1% (Cost $9,590,089) | $ | 10,495,655 | ||||||
Other assets and liabilities, net — (2.1%) | (215,098 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 10,280,557 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2019 is as follows:
Value ($) at 8/31/2018 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2019 | Value ($) at 2/28/2019 | ||||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL —2.2% | ||||||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares” , 2.31% (c)(d) | ||||||||||||||||||||||||||||||||||||||
311,072 | — | (84,961 | )(e) | — | — | 2,193 | — | 226,111 | 226,111 | |||||||||||||||||||||||||||||
CASH EQUIVALENTS —0.7% | ||||||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares” , 2.38% (c) | ||||||||||||||||||||||||||||||||||||||
— | 438,415 | (363,885 | ) | — | — | 659 | — | 74,530 | 74,530 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||
311,072 | 438,415 | (448,846 | ) | — | — | 2,852 | — | 300,641 | 300,641 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* | Non-income producing security. |
(a) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2019 amounted to $2,598,225, which is 25.3% 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 annualizedseven-day yield at period end. |
(d) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund heldnon-cash U.S. Treasury securities collateral having a value of $2,435,042. |
(e) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2019. |
CVR: | Contingent Value Rights |
REIT: | Real Estate Investment Trust |
At February 28, 2019, 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 | USD | 1 | $ | 67,385 | $ | 78,775 | 3/15/2019 | $ | 11,390 |
For information on the Fund’s policy and additional disclosures regarding open futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
Currency Abbreviations
USD | U.S. Dollar |
See Notes to Financial Statements. | 60 |
DBX ETF Trust
Schedule of Investments
Xtrackers Russell 2000 Comprehensive Factor ETF(Continued)
February 28, 2019 (Unaudited)
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2019 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) | $ | 10,162,597 | $ | — | $ | — | $ | 10,162,597 | ||||||||
Rights (f) | — | — | 444 | 444 | ||||||||||||
Exchange-Traded Funds | 31,973 | — | — | 31,973 | ||||||||||||
Short-Term Investments (f) | 300,641 | — | — | 300,641 | ||||||||||||
Derivatives (g) | ||||||||||||||||
Futures Contracts | 11,390 | — | — | 11,390 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 10,506,601 | $ | — | $ | 444 | $ | 10,507,045 | ||||||||
|
|
|
|
|
|
|
|
(f) | See Schedule of Investments for additional detailed categorizations. |
(g) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
See Notes to Financial Statements. | 61 |
DBX ETF Trust
February 28, 2019 (Unaudited)
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 | ||||||||||||||||
Investment innon-affiliated securities at value | $ | 82,060,719 | $ | 6,203,677 | $ | 194,991,245 | $ | 125,394,430 | ||||||||
Investment in affiliated securities at value | 18,839 | — | — | — | ||||||||||||
Investment in DWS Government Money Market Series | 11,096 | 1,671 | 358,657 | 260,348 | ||||||||||||
Investment in DWS Government & Agency Securities Portfolio* | 890,630 | 179,047 | 161,960 | 111,047 | ||||||||||||
Foreign currency at value | 116,760 | 5,308 | — | — | ||||||||||||
Deposit with broker for futures contracts | 9,000 | — | 14,200 | 18,000 | ||||||||||||
Receivables: | ||||||||||||||||
Dividends | 158,795 | 8,893 | 332,405 | 264,138 | ||||||||||||
Securities lending income | 385 | 44 | 1,911 | 396 | ||||||||||||
Foreign tax reclaim | 9,731 | 535 | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Assets | $ | 83,275,955 | $ | 6,399,175 | $ | 195,860,378 | $ | 126,048,359 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liabilities | ||||||||||||||||
Payable upon return of securities loaned | $ | 890,630 | $ | 179,047 | $ | 161,960 | $ | 111,047 | ||||||||
Payables: | ||||||||||||||||
Investment securities purchased | 38,461 | — | — | — | ||||||||||||
Investment advisory fees | 20,434 | 2,385 | 24,348 | 16,015 | ||||||||||||
Variation margin on futures contracts | 430 | — | 1,330 | 1,560 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Liabilities | 949,955 | 181,432 | 187,638 | 128,622 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Assets, at value | $ | 82,326,000 | $ | 6,217,743 | $ | 195,672,740 | $ | 125,919,737 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net Assets Consist of | ||||||||||||||||
Paid-in capital | $ | 84,745,447 | $ | 6,407,649 | $ | 190,657,389 | $ | 122,093,751 | ||||||||
Distributable earnings (loss) | (2,419,447 | ) | (189,906 | ) | 5,015,351 | 3,825,986 | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Assets, at value | $ | 82,326,000 | $ | 6,217,743 | $ | 195,672,740 | $ | 125,919,737 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Number of Common Shares outstanding | 3,000,001 | 250,001 | 6,050,001 | 4,800,001 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Asset Value | $ | 27.44 | $ | 24.87 | $ | 32.34 | $ | 26.23 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Investment innon-affiliated securities at cost | $ | 83,068,922 | $ | 6,090,302 | $ | 179,361,543 | $ | 121,358,663 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Investment in affiliated securities at cost | $ | 16,544 | $ | — | $ | — | $ | — | ||||||||
|
|
|
|
|
|
|
| |||||||||
Value of securities loaned | $ | 1,165,922 | $ | 167,536 | $ | 21,477,775 | $ | 6,671,667 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Investment in DWS Government Money Market Series at cost | $ | 11,096 | $ | 1,671 | $ | 358,657 | $ | 260,348 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Investment in DWS Government & Agency Securities Portfolio at cost* | $ | 890,630 | $ | 179,047 | $ | 161,960 | $ | 111,047 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Non-cash collateral for securities on loan | $ | 434,944 | $ | 32,748 | $ | 21,848,170 | $ | 6,714,482 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Foreign currency at cost | $ | 116,559 | $ | 5,304 | $ | — | $ | — | ||||||||
|
|
|
|
|
|
|
|
* | Represents collateral on securities loaned. |
See Notes to Financial Statements. | 62 |
DBX ETF Trust
Statements of Assets and Liabilities(Continued)
February 28, 2019 (Unaudited)
Xtrackers Russell 2000 Comprehensive Factor ETF | ||||
Assets | ||||
Investment innon-affiliated securities at value | $ | 10,195,014 | ||
Investment in DWS Government Money Market Series | 74,530 | |||
Investment in DWS Government & Agency Securities Portfolio* | 226,111 | |||
Deposit with broker for futures contracts | 3,550 | |||
Receivables: | ||||
Dividends | 9,714 | |||
Securities lending income | 394 | |||
|
| |||
Total Assets | $ | 10,509,313 | ||
|
| |||
Liabilities | ||||
Payable upon return of securities loaned | $ | 226,111 | ||
Payables: | ||||
Investment advisory fees | 2,315 | |||
Variation margin on futures contracts | 330 | |||
|
| |||
Total Liabilities | 228,756 | |||
|
| |||
Net Assets, at value | $ | 10,280,557 | ||
|
| |||
Net Assets Consist of | ||||
Paid-in capital | $ | 10,216,042 | ||
Distributable earnings (loss) | 64,515 | |||
|
| |||
Net Assets, at value | $ | 10,280,557 | ||
|
| |||
Number of Common Shares outstanding | 300,001 | |||
|
| |||
Net Asset Value | $ | 34.27 | ||
|
| |||
Investment innon-affiliated securities at cost | $ | 9,289,448 | ||
|
| |||
Value of securities loaned | $ | 2,598,225 | ||
|
| |||
Investment in DWS Government Money Market Series at cost | $ | 74,530 | ||
|
| |||
Investment in DWS Government & Agency Securities Portfolio at cost* | $ | 226,111 | ||
|
| |||
Non-cash collateral for securities on loan | $ | 2,435,042 | ||
|
|
* | Represents collateral on securities loaned. |
See Notes to Financial Statements. | 63 |
DBX ETF Trust
For the Six Months Ended February 28, 2019 (Unaudited)
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 | |||||||||||||
Investment Income | ||||||||||||||||
Unaffiliated dividend income* | $ | 658,238 | $ | 66,922 | $ | 1,618,332 | $ | 824,279 | ||||||||
Income distributions from affiliated funds | 543 | 25 | 9,078 | 895 | ||||||||||||
Unaffiliatednon-cash dividend income | 60,348 | — | — | — | ||||||||||||
Affiliated securities lending income | 2,773 | 215 | 3,510 | 1,170 | ||||||||||||
Unaffiliated securities lending income, net of borrower rebates | — | — | 4,957 | 121 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total investment income | 721,902 | 67,162 | 1,635,877 | 826,465 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Expenses | ||||||||||||||||
Investment advisory fees | 108,223 | 15,061 | 138,396 | 71,634 | ||||||||||||
Other expenses | 57 | 57 | 57 | 30 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total expenses | 108,280 | 15,118 | 138,453 | 71,664 | ||||||||||||
Less fees waived (see note 3): | ||||||||||||||||
Waiver | (15 | ) | (2 | ) | (367 | ) | (26 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net expenses | 108,265 | 15,116 | 138,086 | 71,638 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Investment income (loss) | 613,637 | 52,046 | 1,497,791 | 754,827 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Realized and Unrealized Gain (Loss) | ||||||||||||||||
Net realized gain (loss) from: | ||||||||||||||||
Investments | (1,427,755 | ) | (322,583 | ) | (8,783,794 | ) | (15,975 | ) | ||||||||
In-kind redemptions | 375,384 | — | 2,866,750 | (83,541 | ) | |||||||||||
Futures contracts | (37,597 | ) | (4,285 | ) | (116,060 | ) | — | |||||||||
Foreign currency transactions | (4,326 | ) | (2,475 | ) | — | — | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized gain (loss) | (1,094,294 | ) | (329,343 | ) | (6,033,104 | ) | (99,516 | ) | ||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||
Investments** | (1,230,416 | ) | 264,134 | (1,154,074 | ) | 66,544 | ||||||||||
Investments in affiliates | 2,295 | — | — | — | ||||||||||||
Futures contracts | 22,135 | 3,820 | (13,115 | ) | 13,518 | |||||||||||
Foreign currency translations | 970 | 2,106 | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net change in unrealized appreciation (depreciation) | (1,205,016 | ) | 270,060 | (1,167,189 | ) | 80,062 | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized and unrealized gain (loss) on investments, futures and foreign currency transactions | (2,299,310 | ) | (59,283 | ) | (7,200,293 | ) | (19,454 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | (1,685,673 | ) | $ | (7,237 | ) | $ | (5,702,502 | ) | $ | 735,373 | |||||
|
|
|
|
|
|
|
| |||||||||
* Unaffiliated foreign tax withheld | $ | 65,130 | $ | 5,423 | $ | 117 | $ | 11 | ||||||||
** Net of change in deferred foreign taxes | $ | — | $ | (3,551 | ) | $ | — | $ | — |
See Notes to Financial Statements. | 64 |
DBX ETF Trust
Statements of Operations(Continued)
For the Six Months Ended February 28, 2019 (Unaudited)
Xtrackers Russell 2000 Comprehensive Factor ETF | ||||
Investment Income | ||||
Unaffiliated dividend income* | $ | 104,060 | ||
Income distributions from affiliated funds | 659 | |||
Affiliated securities lending income | 2,193 | |||
|
| |||
Total investment income | 106,912 | |||
|
| |||
Expenses | ||||
Investment advisory fees | 15,037 | |||
Other expenses | 57 | |||
|
| |||
Total expenses | 15,094 | |||
Less fees waived (see note 3): | ||||
Waiver | (23 | ) | ||
|
| |||
Net expenses | 15,071 | |||
|
| |||
Net Investment income (loss) | 91,841 | |||
|
| |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) from: | ||||
Investments | (466,323 | ) | ||
Futures contracts | (17,060 | ) | ||
Foreign currency transactions | (3 | ) | ||
|
| |||
Net realized gain (loss) | (483,386 | ) | ||
Net change in unrealized appreciation (depreciation) on: | ||||
Investments | (661,402 | ) | ||
Futures contracts | 8,445 | |||
Foreign currency translations | 24 | |||
|
| |||
Net change in unrealized appreciation (depreciation) | (652,933 | ) | ||
|
| |||
Net realized and unrealized gain (loss) on investments, futures and foreign currency transactions | (1,136,319 | ) | ||
|
| |||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | (1,044,478 | ) | |
|
| |||
* Unaffiliated foreign tax withheld | $ | 18 |
See Notes to Financial Statements. | 65 |
DBX ETF Trust
Xtrackers FTSE Developed ex US Comprehensive Factor ETF | Xtrackers FTSE Emerging Comprehensive Factor ETF | |||||||||||||||
For the Six Months Ended February 28, 2019 (Unaudited) | Year Ended August 31, 2018 | For the Six Months Ended February 28, 2019 (Unaudited) | Year Ended August 31, 2018 | |||||||||||||
Increase (Decrease) in Net Assets from Operations | ||||||||||||||||
Net investment income (loss) | $ | 613,637 | $ | 1,186,134 | $ | 52,046 | $ | 228,551 | ||||||||
Net realized gain (loss) | (1,094,294 | ) | 96,967 | (329,343 | ) | 837,875 | ||||||||||
Net change in net unrealized appreciation (depreciation) | (1,205,016 | ) | (463,370 | ) | 270,060 | (1,468,661 | ) | |||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from operations | (1,685,673 | ) | 819,731 | (7,237 | ) | (402,235 | ) | |||||||||
|
|
|
|
|
|
|
| |||||||||
Distributions to Shareholders | (751,764 | ) | (1,119,637 | )* | (191,501 | ) | (534,323 | )** | ||||||||
|
|
|
|
|
|
|
| |||||||||
Fund Shares Transactions | ||||||||||||||||
Proceeds from shares sold | 30,817,665 | 45,367,454 | — | — | ||||||||||||
Value of shares redeemed | (5,180,664 | ) | (1,436,896 | ) | — | (5,735,711 | ) | |||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from fund share transactions | 25,637,001 | 43,930,558 | — | (5,735,711 | ) | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Total net increase (decrease) in Net Assets | 23,199,564 | 43,630,652 | (198,738 | ) | (6,672,269 | ) | ||||||||||
Net Assets | ||||||||||||||||
Beginning of period | 59,126,436 | 15,495,784 | 6,416,481 | 13,088,750 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
End of period | $ | 82,326,000 | $ | 59,126,436 | *** | $ | 6,217,743 | $ | 6,416,481 | *** | ||||||
|
|
|
|
|
|
|
| |||||||||
Changes in Shares Outstanding | ||||||||||||||||
Shares outstanding, beginning of period | 2,050,001 | 550,001 | 250,001 | 450,001 | ||||||||||||
Shares sold | 1,150,000 | 1,550,000 | — | — | ||||||||||||
Shares redeemed | (200,000 | ) | (50,000 | ) | — | (200,000 | ) | |||||||||
|
|
|
|
|
|
|
| |||||||||
Shares outstanding, end of period | 3,000,001 | 2,050,001 | 250,001 | 250,001 | ||||||||||||
|
|
|
|
|
|
|
|
* | Includes distributions from net investment income. |
** | Includes distributions from net investment income of $342,332 and net realized gains of $191,991. |
*** | Includes undistributed net investment income of $434,377 and $72,089 respectively. |
See Notes to Financial Statements. | 66 |
DBX ETF Trust
Statements of Changes in Net Assets(Continued)
Xtrackers Russell 1000 Comprehensive Factor ETF | Xtrackers Russell 1000 US QARP ETF | |||||||||||||||
For the Six Months Ended February 28, 2019 (Unaudited) | Year Ended August 31, 2018 | For the Six Months Ended February 28, 2019 (Unaudited) | For the Period April 5, 2018(1) to August 31, 2018 | |||||||||||||
Increase (Decrease) in Net Assets from Operations | ||||||||||||||||
Net investment income (loss) | $ | 1,497,791 | $ | 2,300,079 | $ | 754,827 | $ | 415,425 | ||||||||
Net realized gain (loss) | (6,033,104 | ) | 7,060,292 | (99,516 | ) | 27,083 | ||||||||||
Net change in net unrealized appreciation (depreciation) | (1,167,189 | ) | 12,374,293 | 80,062 | 3,969,223 | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from operations | (5,702,502 | ) | 21,734,664 | 735,373 | 4,411,731 | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Distributions to Shareholders | (1,445,495 | ) | (2,163,877 | )* | (629,493 | ) | (177,934 | )* | ||||||||
|
|
|
|
|
|
|
| |||||||||
Fund Shares Transactions | ||||||||||||||||
Proceeds from shares sold | 48,776,191 | 104,881,632 | 70,338,320 | 64,987,902 | ||||||||||||
Value of shares redeemed | (17,294,132 | ) | (53,325,864 | ) | (5,938,233 | ) | (7,807,954 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from fund share transactions | 31,482,059 | 51,555,768 | 64,400,087 | 57,179,948 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total net increase (decrease) in Net Assets | 24,334,062 | 71,126,555 | 64,505,967 | 61,413,745 | ||||||||||||
Net Assets | ||||||||||||||||
Beginning of period | 171,338,678 | 100,212,123 | 61,413,770 | 25 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
End of period | $ | 195,672,740 | $ | 171,338,678 | ** | $ | 125,919,737 | $ | 61,413,770 | ** | ||||||
|
|
|
|
|
|
|
| |||||||||
Changes in Shares Outstanding | ||||||||||||||||
Shares outstanding, beginning of period | 5,050,001 | 3,400,001 | 2,250,001 | 1 | ||||||||||||
Shares sold | 1,550,000 | 3,300,000 | 2,800,000 | 2,550,000 | ||||||||||||
Shares redeemed | (550,000 | ) | (1,650,000 | ) | (250,000 | ) | (300,000 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Shares outstanding, end of period | 6,050,001 | 5,050,001 | 4,800,001 | 2,250,001 | ||||||||||||
|
|
|
|
|
|
|
|
(1) | Commencement of Operations. |
* | Includes distributions from net investment income. |
** | Includes undistributed net investment income of $471,966 and $237,491 respectively. |
See Notes to Financial Statements. | 67 |
DBX ETF Trust
Statements of Changes in Net Assets(Continued)
Xtrackers Russell 2000 Comprehensive Factor ETF | ||||||||
For the Six Months Ended February 28, 2019 (Unaudited) | Year Ended August 31, 2018 | |||||||
Increase (Decrease) in Net Assets from Operations | ||||||||
Net investment income (loss) | $ | 91,841 | $ | 136,931 | ||||
Net realized gain (loss) | (483,386 | ) | 684,775 | |||||
Net change in net unrealized appreciation (depreciation) | (652,933 | ) | 1,083,245 | |||||
|
|
|
| |||||
Net increase (decrease) in net assets resulting from operations | (1,044,478 | ) | 1,904,951 | |||||
|
|
|
| |||||
Distributions to Shareholders | (95,400 | ) | (222,095 | )* | ||||
|
|
|
| |||||
Fund Shares Transactions | ||||||||
Proceeds from shares sold | — | 10,288,658 | ||||||
Value of shares redeemed | — | (5,225,663 | ) | |||||
|
|
|
| |||||
Net increase (decrease) in net assets resulting from fund share transactions | — | 5,062,995 | ||||||
|
|
|
| |||||
Total net increase (decrease) in Net Assets | (1,139,878 | ) | 6,745,851 | |||||
Net Assets | ||||||||
Beginning of period | 11,420,435 | 4,674,584 | ||||||
|
|
|
| |||||
End of period | $ | 10,280,557 | $ | 11,420,435 | ** | |||
|
|
|
| |||||
Changes in Shares Outstanding | ||||||||
Shares outstanding, beginning of period | 300,001 | 150,001 | ||||||
Shares sold | — | 300,000 | ||||||
Shares redeemed | — | (150,000 | ) | |||||
|
|
|
| |||||
Shares outstanding, end of period | 300,001 | 300,001 | ||||||
|
|
|
|
* | Includes distributions from net investment income of $115,343 and net realized gains of $106,752. |
** | Includes undistributed net investment income of $34,581. |
See Notes to Financial Statements. | 68 |
DBX ETF Trust
Xtrackers FTSE Developed ex US Comprehensive Factor ETF Selected Per Share Data | For the Six Months Ended 2/28/2019 (Unaudited) | Years Ended August 31, | Period Ended 8/31/2016(a) | |||||||||||||
2018 | 2017 | |||||||||||||||
Net Asset Value, beginning of period | $ | 28.84 | $ | 28.17 | $ | 25.41 | $ | 25.00 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Income (loss) from investment operations: | ||||||||||||||||
Net investment income (loss)(c) | 0.26 | 0.77 | 0.54 | 0.52 | ||||||||||||
Net realized and unrealized gain (loss) | (1.31 | ) | 0.72 | (d) | 3.19 | (d) | 0.27 | |||||||||
|
|
|
|
|
|
|
| |||||||||
Total from investment operations | (1.05 | ) | 1.49 | 3.73 | 0.79 | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Less distributions from: |
| |||||||||||||||
Net investment income | (0.35 | ) | (0.82 | ) | (0.97 | ) | (0.38 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total distributions | (0.35 | ) | (0.82 | ) | (0.97 | ) | (0.38 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net Asset Value, end of period | $ | 27.44 | $ | 28.84 | $ | 28.17 | $ | 25.41 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Return (%) | (3.66 | )(e)** | 5.32 | 15.16 | 3.21 | ** | ||||||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||||||
Net Assets, end of period ($ millions) | 82 | 59 | 15 | 3 | ||||||||||||
Ratio of expenses before fee waiver (%) | 0.35 | * | 0.35 | 0.35 | 0.36 | * | ||||||||||
Ratio of expenses after fee waiver (%) | 0.35 | * | 0.35 | 0.35 | 0.36 | * | ||||||||||
Ratio of net investment income (loss) (%) | 1.98 | * | 2.62 | 2.10 | 2.77 | * | ||||||||||
Portfolio turnover rate (%)(f) | 27 | ** | 45 | 45 | 35 | ** | ||||||||||
Xtrackers FTSE Emerging Comprehensive Factor ETF Selected Per Share Data | For the Six Months Ended 2/28/2019 (Unaudited) | Years Ended August 31, | Period Ended 8/31/2016(b) | |||||||||||||
2018 | 2017 | |||||||||||||||
Net Asset Value, beginning of period | $ | 25.67 | $ | 29.09 | $ | 25.73 | $ | 25.00 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Income (loss) from investment operations: | ||||||||||||||||
Net investment income (loss)(c) | 0.21 | 0.82 | 0.88 | 0.38 | ||||||||||||
Net realized and unrealized gain (loss) | (0.25 | ) | (2.46 | ) | 3.27 | 0.41 | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Total from investment operations | (0.04 | ) | (1.64 | ) | 4.15 | 0.79 | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Less distributions from: |
| |||||||||||||||
Net investment income | (0.32 | ) | (1.01 | ) | (0.61 | ) | (0.06 | ) | ||||||||
Net realized gains | (0.44 | ) | (0.77 | ) | (0.18 | ) | — | |||||||||
|
|
|
|
|
|
|
| |||||||||
Total distributions | (0.76 | ) | (1.78 | ) | (0.79 | ) | (0.06 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net Asset Value, end of period | $ | 24.87 | $ | 25.67 | $ | 29.09 | $ | 25.73 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Return (%) | (0.03 | )(e)** | (5.89 | ) | 16.56 | 3.16 | ** | |||||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||||||
Net Assets, end of period ($ millions) | 6 | 6 | 13 | 3 | ||||||||||||
Ratio of expenses before fee waiver (%) | 0.50 | * | 0.50 | 0.50 | 0.50 | * | ||||||||||
Ratio of expenses after fee waiver (%) | 0.50 | * | 0.50 | 0.50 | 0.50 | * | ||||||||||
Ratio of net investment income (loss) (%) | 1.73 | * | 2.90 | 3.28 | 4.14 | * | ||||||||||
Portfolio turnover rate (%)(f) | 28 | ** | 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) | Total return would have been lower if certain expenses had not been reimbursed by the Advisor. |
(f) | Portfolio turnover rate does not include securities received or delivered from processing creations or redemptions. |
* | Annualized. |
** | Not Annualized. |
See Notes to Financial Statements. | 69 |
DBX ETF Trust
Financial Highlights(Continued)
Xtrackers Russell 1000 Comprehensive Factor ETF Selected Per Share Data | For the Six Months Ended 2/28/2019 (Unaudited) | Years Ended August 31, | Period Ended 8/31/2016(a) | |||||||||||||
2018 | 2017 | |||||||||||||||
Net Asset Value, beginning of period | $ | 33.93 | $ | 29.47 | $ | 26.76 | $ | 25.00 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Income (loss) from investment operations: | ||||||||||||||||
Net investment income (loss)(c) | 0.29 | 0.52 | 0.51 | 0.40 | ||||||||||||
Net realized and unrealized gain (loss) | (1.60 | ) | 4.44 | 2.85 | 1.60 | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Total from investment operations | (1.31 | ) | 4.96 | 3.36 | 2.00 | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Less distributions from: |
| |||||||||||||||
Net investment income | (0.28 | ) | (0.50 | ) | (0.65 | ) | (0.24 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total distributions | (0.28 | ) | (0.50 | ) | (0.65 | ) | (0.24 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net Asset Value, end of period | $ | 32.34 | $ | 33.93 | $ | 29.47 | $ | 26.76 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Return (%) | (3.82 | )(d)** | 16.97 | (d) | 12.75 | (d) | 8.06 | ** | ||||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||||||
Net Assets, end of period ($ millions) | 196 | 171 | 100 | 21 | ||||||||||||
Ratio of expenses before fee waiver (%) | 0.17 | * | 0.19 | 0.23 | 0.25 | * | ||||||||||
Ratio of expenses after fee waiver (%) | 0.17 | * | 0.18 | 0.21 | 0.25 | * | ||||||||||
Ratio of net investment income (loss) (%) | 1.84 | * | 1.62 | 1.83 | 2.01 | * | ||||||||||
Portfolio turnover rate (%)(e) | 20 | ** | 45 | 67 | 64 | ** | ||||||||||
Xtrackers Russell 1000 US QARP ETF Selected Per Share Data | For the Six Months Ended 2/28/2019 (Unaudited) | Period Ended 8/31/2018(b) | ||||||||||||||
Net Asset Value, beginning of period | $ | 27.29 | $ | 25.00 | ||||||||||||
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| |||||||||||||
Income (loss) from investment operations: | ||||||||||||||||
Net investment income (loss)(c) | 0.25 | 0.21 | ||||||||||||||
Net realized and unrealized gain (loss) | (1.07 | ) | 2.16 | |||||||||||||
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Total from investment operations | (0.82 | ) | 2.37 | |||||||||||||
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Less distributions from: |
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Net investment income | (0.24 | ) | (0.08 | ) | ||||||||||||
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Total distributions | (0.24 | ) | (0.08 | ) | ||||||||||||
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Net Asset Value, end of period | $ | 26.23 | $ | 27.29 | ||||||||||||
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Total Return (%) | (2.95 | )(d)** | 9.52 | ** | ||||||||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||||||
Net Assets, end of period ($ millions) | 126 | 61 | ||||||||||||||
Ratio of expenses before fee waiver (%) | 0.19 | * | 0.19 | * | ||||||||||||
Ratio of expenses after fee waiver (%) | 0.19 | * | 0.19 | * | ||||||||||||
Ratio of net investment income (loss) (%) | 2.00 | * | 2.00 | * | ||||||||||||
Portfolio turnover rate (%)(e) | 1 | ** | 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. | 70 |
DBX ETF Trust
Financial Highlights(Continued)
Xtrackers Russell 2000 Comprehensive Factor ETF Selected Per Share Data | For the Six Months Ended 2/28/2019 (Unaudited) | Years Ended August 31, | Period Ended 8/31/2016(a) | |||||||||||||
2018 | 2017 | |||||||||||||||
Net Asset Value, beginning of period | $ | 38.07 | $ | 31.16 | $ | 27.82 | $ | 25.00 | ||||||||
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Income (loss) from investment operations: | ||||||||||||||||
Net investment income (loss)(b) | 0.31 | 0.49 | 0.46 | 0.09 | ||||||||||||
Net realized and unrealized gain (loss) | (3.79 | ) | 7.23 | 3.35 | 2.73 | |||||||||||
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Total from investment operations | (3.48 | ) | 7.72 | 3.81 | 2.82 | |||||||||||
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Less distributions from: |
| |||||||||||||||
Net investment income | (0.32 | ) | (0.45 | ) | (0.46 | ) | — | |||||||||
Net realized gains | — | (0.36 | ) | (0.01 | ) | — | ||||||||||
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Total distributions | (0.32 | ) | (0.81 | ) | (0.47 | ) | — | |||||||||
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Net Asset Value, end of period | $ | 34.27 | $ | 38.07 | $ | 31.16 | $ | 27.82 | ||||||||
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| |||||||||
Total Return (%) | (9.10 | )(c)** | 25.08 | 13.72 | 11.28 | ** | ||||||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||||||
Net Assets, end of period ($ millions) | 10 | 11 | 5 | 3 | ||||||||||||
Ratio of expenses before fee waiver (%) | 0.30 | * | 0.30 | 0.30 | 0.30 | * | ||||||||||
Ratio of expenses after fee waiver (%) | 0.30 | * | 0.30 | 0.30 | 0.30 | * | ||||||||||
Ratio of net investment income (loss) (%) | 1.83 | * | 1.42 | 1.51 | 1.79 | * | ||||||||||
Portfolio turnover rate (%)(d) | 20 | ** | 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) | Total return would have been lower if certain expenses had not been reimbursed by the Advisor. |
(d) | Portfolio turnover rate does not include securities received or delivered from processing creations or redemptions. |
* | Annualized. |
** | Not Annualized. |
See Notes to Financial Statements. | 71 |
DBX ETF Trust
1. Organization
DBX ETF Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “Act”), as anopen-end registered management investment company organized as a Delaware statutory trust.
As of February 28, 2019, the Trust consists of thirty-eight 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 (“NAV”), only in large specified lots consisting of 50,000 shares, each called a “Creation Unit”, to authorized participants who have entered into agreements with the Funds’ distributor. Shares are not individually redeemable securities of the Funds, and owners of the shares may acquire those shares from the Funds, or tender such shares for redemption to the Funds, in Creation Units only.
The investment objective of each Fund is to track the performance, before fees and expenses, of a particular index (the “Underlying Index”). The underlying indices for the Funds are:
Fund | Underlying Index | |
Xtrackers FTSE Developed ex US Comprehensive Factor ETF | FTSE Developed ex US Comprehensive Factor Index | |
Xtrackers FTSE Emerging Comprehensive Factor ETF Xtrackers Russell 1000 Comprehensive Factor ETF Xtrackers Russell 1000 US QARP ETF Xtrackers Russell 2000 Comprehensive Factor ETF | FTSE Emerging Comprehensive Factor Index Russell 1000 Comprehensive Factor Index Russell 1000 2Qual/Val 5% Capped Factor Index 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- andmid-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- andmid-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 oflarge-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 companies eligible for the Underlying Index are derived from its starting universe, the Russell 1000 Index, which
72
DBX ETF Trust
Notes to Financial Statements(Unaudited) (Continued)
is comprised oflarge-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 reallocatedpro-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 ofsmall-cap equity securities from issuers in the United States. The Underlying Index is rebalanced semiannually in June and December after the close of business on the third Friday of the review month.
Each Fund is entitled to use its respective Underlying Index pursuant to a licensing agreement between the Index Provider and DBX. There is no charge to the Funds in connection with these licensing agreements.
Each Fund, except Xtrackers FTSE Developed ex US Comprehensive Factor ETF and Xtrackers Russell 1000 Comprehensive Factor ETF, isnon-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.
In October 2018, the Securities and Exchange Commission adopted amendments to certain disclosure requirements in Securities Act ReleaseNo. 33-10532, Disclosure Update and Simplification, which is intended to facilitate the disclosure of information to investors and simplify compliance without significantly altering the total mix of information provided to investors. Effective with the current reporting period, the Funds adopted the amendments with the impacts being that the Funds are no longer required to present components of distributable earnings on the Statement of Assets and Liabilities or the sources of distributable earnings and the amount of undistributed net investment income on the Statements of Changes in Net Assets.
Security Valuation The NAV of each Fund’s shares is calculated each business day as of the close of regular trading on the New York Stock Exchange, generally 4:00 p.m. Eastern Time. NAV per share is calculated by dividing a Fund’s net assets by the number of Fund shares outstanding.
Various inputs are used in determining the value of the Funds’ investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, and credit risk). Level 3 includes significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
Equity securities and ETFs are valued at the most recent sale price or official closing price reported on the exchange (U.S. or foreign) orover-the-counter market on which they trade. Securities for which no sales are
73
DBX ETF Trust
Notes to Financial Statements(Unaudited) (Continued)
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 inopen-end investment companies are valued at their NAV each business day and are categorized as Level 1.
Futures contracts are generally valued at the settlement prices established each day on the exchange on which they are traded and are categorized as Level 1.
Securities and other assets for which market quotations are not readily available or for which the above valuation procedures are deemed not to reflect fair value are valued in a manner that is intended to reflect their fair value as determined in accordance with procedures approved by the Board and are generally categorized as Level 3. In accordance with the Funds’ valuation procedures, factors considered in determining value may include, but are not limited to, the type of the security; the size of the holding; the initial cost of the security; the existence of any contractual restrictions on the security’s disposition; the price and extent of public trading in similar securities of the issuer or of comparable companies; quotations or evaluated prices from broker-dealers and/or pricing services; information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities); an analysis of the company’s or issuer’s financial statements; an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold; and with respect to debt securities, the maturity, coupon, creditworthiness, currency denomination and the movement of the market in which the security is normally traded. The value determined under these procedures may differ from published values for the same securities.
Fair value pricing could result in a difference between the prices used to calculate a Fund’s NAV and the prices used by the Fund’s Underlying Index, which in turn could result in a difference between the Fund’s performance and the performance of the Fund’s Underlying Index.
Disclosure about the classification of the fair value measurements is included in a table following the Fund’s Schedule of Investments.
Cash Cash consists of cash held at banks and is on deposit with major financial institutions.
Investment Transactions and Investment Income Investment transactions are recorded as of the date that the securities are purchased or sold (trade date). Realized gains and losses from the sale or disposition of securities are calculated on the identified cost-method. Dividend income is net of any foreign taxes withheld at source. Certain dividends from foreign securities may be recorded subsequent to theex-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 theex-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.
74
DBX ETF Trust
Notes to Financial Statements(Unaudited) (Continued)
In accordance with U.S. GAAP requirements regarding accounting for uncertainties in income taxes, management has analyzed the Funds’ tax positions taken or expected to be taken on foreign, federal and state income tax returns for all open tax years and has concluded that no provision for income tax is required in the Funds’ financial statements.
The Funds recognize interest and penalties, if any, related to uncertain tax positions as income tax expense on the Statements of Operations. For the period ended August 31, 2018, the Funds did not incur any interest or penalties.
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 and late year ordinary 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 |
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 | ) |
The tax character of current year distributions will be determined at the end of the current fiscal year.
Foreign Taxes The Funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, capital gains on investments, certain foreign currency transactions or other corporate events. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which the Funds invest. These foreign taxes, if any, are paid by the Funds and are reflected in their Statements of Operations as follows: foreign taxes withheld at source are presented as a reduction of income, foreign taxes on capital gains from sales of investments and foreign currency transactions are included in their respective net realized gain (loss) categories, and deferred foreign taxes on unrealized gains are included in net change in unrealized appreciation (depreciation). Foreign taxes payable as of February 28, 2019, 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.
75
DBX ETF Trust
Notes to Financial Statements(Unaudited) (Continued)
Net realized and unrealized gains and losses on foreign currency transactions represent net gains and losses between trade and settlement dates on securities transactions, the acquisition and disposition of foreign currencies, and the difference between the amount of net investment income accrued and the U.S. dollar amount actually received. The portion of both realized and unrealized gains and losses on investments that results from fluctuations in foreign currency exchange rates is not separately disclosed, but is included with net realized and unrealized gain/appreciation and loss/depreciation on investments.
Securities Lending The Funds may lend securities to certain financial institutions under the terms of their securities lending agreement. During the term of the loans, the Funds continue to receive interest and dividends generated by the securities and to participate in any changes in their market value. The Funds require the borrowers of the securities to maintain collateral with the Funds consisting of cash and/or securities issued or guaranteed by the U.S. Government, its agencies or instrumentalities having a value at least equal to the value of the securities loaned. When the collateral falls below specified amounts, the lending agent will use its best effort to obtain additional collateral on the next business day to meet required amounts under the securities lending agreement. During the period ended February 28, 2019, 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 (0.11% annualized effective rate as of February 28, 2019) on the cash collateral invested in DWS Government & Agency Securities Portfolio. The Funds receive compensation for lending its securities either in the form of fees or by earning interest on invested cash collateral net of borrower rebates and fees paid to a lending agent. Either the Fund or the borrower may terminate the loan at any time and the borrower, after notice, is required to return borrowed securities within a standard time period. There may be risks of delay and costs in recovery of securities or even loss of rights in the collateral should the borrower of the securities fail financially. If the Funds are not able to recover securities lent, the Funds may sell the collateral and purchase a replacement investment in the market, incurring the risk that the value of the replacement security is greater than the value of the collateral. The Funds are also subject to all investment risks associated with the reinvestment of any cash collateral received, including, but not limited to, interest rate, credit and liquidity risk associated with such investments.
As of February 28, 2019, 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 February 28, 2019 | ||||||||||||||||||||
Securities Lending Transactions | Overnight and Continuous | <30 Days | Between 30 & 90 days | >90 days | Total | |||||||||||||||
Xtrackers FTSE Developed ex US Comprehensive Factor ETF |
| |||||||||||||||||||
Common Stocks | $ | 890,630 | $ | — | $ | 32,332 | $ | 402,612 | $ | 1,325,574 | ||||||||||
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Gross amount of recognized liabilities for securities lending transactions |
| $ | 1,325,574 | |||||||||||||||||
Xtrackers FTSE Emerging Comprehensive Factor ETF |
| |||||||||||||||||||
Common Stocks | $ | 179,047 | $ | 107 | $ | 79 | $ | 32,562 | $ | 211,795 | ||||||||||
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Gross amount of recognized liabilities for securities lending transactions |
| $ | 211,795 | |||||||||||||||||
Xtrackers Russell 1000 Comprehensive Factor ETF |
| |||||||||||||||||||
Common Stocks | $ | 161,960 | $ | 151,145 | $ | 294,232 | $ | 21,402,793 | $ | 22,010,130 | ||||||||||
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Gross amount of recognized liabilities for securities lending transactions |
| $ | 22,010,130 | |||||||||||||||||
Xtrackers Russell 1000 US QARP ETF |
| |||||||||||||||||||
Common Stocks | $ | 111,047 | $ | 77,379 | $ | 142,129 | $ | 6,494,974 | $ | 6,825,529 | ||||||||||
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Gross amount of recognized liabilities for securities lending transactions |
| $ | 6,825,529 | |||||||||||||||||
Xtrackers Russell 2000 Comprehensive Factor ETF |
| |||||||||||||||||||
Common Stocks | $ | 226,111 | $ | 19,675 | $ | 36,239 | $ | 2,379,128 | $ | 2,661,153 | ||||||||||
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Gross amount of recognized liabilities for securities lending transactions |
| $ | 2,661,153 |
76
DBX ETF Trust
Notes to Financial Statements(Unaudited) (Continued)
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. ornon-U.S. exchange. No Fund will use futures for speculative purposes. Futures contracts provide for the future sale by one party and purchase by another party of a specified amount of a specific instrument or index at a specified future time and at a specified price. For the period ended February 28, 2019, 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 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 February 28, 2019 is included in a table following the Funds’ Schedule of Investments.
The following tables summarize the value of the Funds’ derivative instruments held as of February 28, 2019 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* | $ | 19,990 | Unrealized depreciation on futures contracts* | $ | — | ||||||||
Xtrackers Russell 1000 Comprehensive Factor ETF | ||||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | 39,988 | Unrealized depreciation on futures contracts* | $ | — | ||||||||
Xtrackers Russell 1000 US QARP ETF | ||||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | 13,518 | Unrealized depreciation on futures contracts* | $ | — | ||||||||
Xtrackers Russell 2000 Comprehensive Factor ETF | ||||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | 11,390 | 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. |
77
DBX ETF Trust
Notes to Financial Statements(Unaudited) (Continued)
Additionally, the amount of realized and unrealized gains and losses on derivative instruments recognized in the Funds’ earnings during the period ended February 28, 2019 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 | $ | (37,597 | ) | |
Xtrackers FTSE Emerging Comprehensive Factor ETF | (4,285 | ) | ||
Xtrackers Russell 1000 Comprehensive Factor ETF | (116,060 | ) | ||
Xtrackers Russell 2000 Comprehensive Factor ETF | (17,060 | ) | ||
Net Change in Unrealized Appreciation (Depreciation) on: | ||||
Futures Contracts — Equity Contracts | ||||
Xtrackers FTSE Developed ex US Comprehensive Factor ETF | $ | 22,135 | ||
Xtrackers FTSE Emerging Comprehensive Factor ETF | 3,820 | |||
Xtrackers Russell 1000 Comprehensive Factor ETF | (13,115 | ) | ||
Xtrackers Russell 1000 US QARP ETF | 13,518 | |||
Xtrackers Russell 2000 Comprehensive Factor ETF | 8,445 |
For the period ended February 28, 2019 the average monthly volume of derivatives was as follows:
Futures Contracts (Contract Value) | ||||
Xtrackers FTSE Developed ex US Comprehensive Factor ETF | $ | 213,596 | ||
Xtrackers FTSE Emerging Comprehensive Factor ETF | 7,535 | |||
Xtrackers Russell 1000 Comprehensive Factor ETF | 1,020,630 | |||
Xtrackers Russell 1000 US QARP ETF | 78,990 | |||
Xtrackers Russell 2000 Comprehensive Factor ETF | 77,947 |
Affiliated Cash Management Vehicles The Funds may invest uninvested cash balances in DWS Government Money Market Series and DWS ESG Liquidity Fund, affiliated money market funds which are managed by DWS Investment Management Americas, Inc. (“DIMA”), also an indirect, wholly owned subsidiary of DWS Group GmbH & Co. KGaA. Each affiliated money market fund is managed in accordance with Rule2a-7 under the 1940 Act, which governs the quality, maturity, diversity and liquidity of instruments in which a money market fund may invest. DWS Government Money Market Series seeks to maintain a stable net asset value, and DWS ESG Liquidity Fund maintains a floating net asset value. The Funds indirectly bear their proportionate share of the expenses of each affiliated money market fund in which they invest. The Advisor will waive an amount of the unitary management fee payable to the Advisor by the Funds equal to such acquired fund’s fees and expenses on the Funds’ assets invested in the affiliated money market funds.
3. Investment Advisory and Other Agreements
The Advisor has overall responsibility for the general management and administration of the Funds, subject to the supervision of the Funds’ Board of Trustees. Under an investment advisory agreement between the Trust, on behalf of the Funds, and the Advisor (the “Investment Advisory Agreement”), the Advisor is responsible for arrangingsub-advisory, transfer agency, custody, fund administration, and all othernon-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 | % |
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DBX ETF Trust
Notes to Financial Statements(Unaudited) (Continued)
Unitary Management Fee | ||||
Xtrackers Russell 1000 Comprehensive Factor ETF | 0.17 | % | ||
Xtrackers Russell 1000 US QARP ETF | 0.19 | % | ||
Xtrackers Russell 2000 Comprehensive Factor ETF | 0.30 | % |
The Advisor for the Funds below has contractually agreed to waive a portion of its management fees in an amount equal to the acquired fund’s fees and expenses attributable to the Funds’ investments in affiliated cash management vehicles. For the period ended February 28, 2019, the Advisor waived expenses of the Fund’s as follows:
Expenses Waived | ||||
Xtrackers FTSE Developed ex US Comprehensive Factor ETF | $ | 15 | ||
Xtrackers FTSE Emerging Comprehensive Factor ETF | 2 | |||
Xtrackers Russell 1000 Comprehensive Factor ETF | 367 | |||
Xtrackers Russell 1000 US QARP ETF | 26 | |||
Xtrackers Russell 2000 Comprehensive Factor ETF | 23 |
Effective March 5, 2019, the Advisor for Xtrackers FTSE Developed ex US Comprehensive Factor ETF has contractually agreed, until March 5, 2020, to waive a portion of its management fees to the extent necessary to prevent the operating expenses of the Fund from exceeding 0.24% of the Fund’s average daily net assets.
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).
4. Investment Portfolio Transactions
For the period ended February 28, 2019, the cost of investments purchased and proceeds from sale of investments (excludingin-kind transactions and short-term investments) were as follows:
Purchases | Sales | |||||||
Xtrackers FTSE Developed ex US Comprehensive Factor ETF | $ | 18,625,054 | $ | 17,336,781 | ||||
Xtrackers FTSE Emerging Comprehensive Factor ETF | 1,733,387 | 1,824,901 | ||||||
Xtrackers Russell 1000 Comprehensive Factor ETF | 34,987,114 | 33,648,277 | ||||||
Xtrackers Russell 1000 US QARP ETF | 513,422 | 742,655 | ||||||
Xtrackers Russell 2000 Comprehensive Factor ETF | 2,025,107 | 2,023,207 |
For the period ended February 28, 2019, the cost ofin-kind purchases and proceeds fromin-kind sales were as follows:
Purchases | Sales | |||||||
Xtrackers FTSE Developed ex US Comprehensive Factor ETF | $ | 29,201,704 | $ | 5,020,014 | ||||
Xtrackers Russell 1000 Comprehensive Factor ETF | 48,724,541 | 17,171,682 | ||||||
Xtrackers Russell 1000 US QARP ETF | 70,330,901 | 5,937,790 |
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Notes to Financial Statements(Unaudited) (Continued)
5. Fund Share Transactions
As of February 28, 2019, 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 thein-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 theone-month LIBOR Rate. The Fund may borrow up to the lesser of apro-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 February 28, 2019.
Pro-rata Share | ||||
Xtrackers FTSE Emerging Comprehensive Factor ETF | $ | 525,000 |
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DBX ETF Trust
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
After discussions at the meeting of the Board of Trustees (“Board” or “Trustees”) held on February11-12, 2019 (the “Meeting”), the Trustees, including the Independent Trustees (those not affiliated with DBX ETF Trust (the “Trust”) or its service providers), unanimously approved the continuance of the Investment Advisory Agreement with respect toXtrackers 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 (each a “Fund,” and collectively, the “Funds”). The Independent Trustees were advised throughout the review and Meeting by K&L Gates LLP (“Independent Trustee Counsel”).
Before reaching their decision to approve the Investment Advisory Agreement for another annual period, the Independent Trustees evaluated the materials furnished to them in advance of the Meeting from DBX Advisors LLC (“DBX” or the “Advisor”) for purposes of reviewing the agreement’s terms and also took into consideration the discussions they had with management during the Meeting and among themselves during their Executive Sessions held on February 11 and February 12, 2019. The Independent Trustees also noted that they had received and should take into consideration a substantial amount of information furnished throughout the year at regular Board meetings, which information included, among other things, an analysis of each Fund’s investment performance and related financial information, presentations given by DBX, as well as its periodic reports on brokerage commissions, portfolio execution and other services provided to the Funds.
In reaching its decision to continue in effect the Investment Advisory Agreement for another annual period, the Board considered all factors it believed relevant, including (1) the nature, extent and quality of the services provided to the Funds and their shareholders; (2) the financial resources of DBX and its resulting ability to perform its obligations under the Investment Advisory Agreement; (3) the competitiveness of the advisory fee; (4) the total cost of the services provided by and the profits realized by the Advisor from its relationship with the Funds; (5) the extent to which economies of scale have been realized, and if the Funds’ shareholders have benefitted from those economies; and (6) fall out benefits, if any, enjoyed by the Advisor.
The Board reached a determination, with the assistance of Dechert LLP (“Trust Counsel”) and through the exercise of its business judgment, that approval of the Investment Advisory Agreement and the compensation to be received thereunder is in the best interests of each Fund and its shareholders as well as consistent with the Board’s duties under state and federal law. The Board reached this conclusion based on multiple factors.
Nature, Extent and Quality of Services. The Board reviewed in detail the nature, extent and quality of services provided by the Advisor under the Investment Advisory Agreement. In doing so, the Board considered the information it had received from and the discussions it had with the Advisor continuously during the prior year, in addition to the information the Advisor had provided in response to the Board’s requests prior to the Meeting. The Board considered that these services include, among other things, furnishing a continuous investment program for the Funds, including arranging for, or implementing, the purchase and sale of portfolio securities, the provision of general corporate services such as portfolio management compliance services and the preparation and filing of certain reports on behalf of the Trust. The Board also considered, among other things, the professional experience, qualifications and performance of the senior management and key professional personnel of the Advisor, including portfolio management.
The Board considered that the Advisor provides, at its own expense, office facilities and equipment for use by the Funds and supervisory persons responsible for supervising and monitoring the Trust’s service providers. The Board also considered that the Advisor pays or arranges for the compensation of officers of the Trust who are also officers or employees of the Advisor or one of its Deutsche Bank affiliates, except as may otherwise be determined by the Board. In addition, the Board considered that the Advisor arranges for the provision of transfer agency, custody, fund administration and accounting, and othernon-distribution services necessary for the Funds’ operations. The Board also considered that in addition to managing the Funds’ portfolios directly, the Advisor provides oversight ofday-to-day operations, including monitoring tracking error, providing services in
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DBX ETF Trust
Board Considerations in Approval of Investment Advisory Contracts (Unaudited) (Continued)
connection with the creation and redemption of creation units and assistance in meeting legal, compliance and regulatory requirements applicable to the Funds. The Trustees took into consideration that tracking error for each Fund during the year was in an expected range.
Based on its review, the Board concluded that the nature, extent, and quality of services provided by the Advisor under the Investment Advisory Agreement are reasonable and appropriate in relation to the fees paid to the Advisor, taking special consideration of the fact that the advisory fee is a unitary fee and, as a result, a portion of the unitary advisory fee will be used to compensate the Funds’ service providers. The Board considered the staffing of the Advisor, including the training, qualifications and experience of investment personnel in managing the Funds. The Board also considered the expertise of the Advisor in supervising third party service providers to the Funds, such as the administrator and the custodian, noting the Advisor’s extensive work with these service providers (including onsite due diligence sessions) to conduct such supervision. The Board further considered the compliance program of the Advisor, which supports the Funds’ compliance program.
Advisor’s Financial Resources. In connection with the assessment of the ability of the Advisor to perform its duties under the Investment Advisory Agreement, the Board considered the Advisor’s financial condition and whether it has the resources necessary to carry out its functions. The Board concluded that the Advisor has the financial resources necessary to perform its obligations under the Investment Advisory Agreement.
Reasonableness of Advisory Fee. The Board compared each Fund’s advisory fee to that of other pertinent exchange-traded funds (“ETFs”) and noted that each Fund’s fee is competitive with the fees of its respective peer group. The Board agreed that it was familiar with the Advisor’s methodology for selecting each Fund’s peer group and believed that the Funds’ peer groups were appropriate. The Board considered that the fee for each of the Funds is a unitary fee pursuant to which the Advisor pays all of the Funds’ costs (subject to certain specified exceptions). The Board also considered that each Fund’s portfolio is managed on aday-to-day basis by the Advisor and that the Advisor also provides oversight ofday-to-day operations, including monitoring tracking error, providing services in connection with creation and redemption units and assistance in meeting legal and regulatory requirements applicable to the Funds. Based on its review, the Board concluded that the advisory fee for each Fund is reasonable in light of the services provided.
Costs of Services and Profitability. The Board considered the expenses of the Advisor in developing and rendering services provided to the Funds and the information provided by the Advisor to the Board regarding the Funds’ profitability. The Board considered that the Advisor had provided extensive information about the Advisor’s profitability and the Advisor’s methodology in determining profitability. While the Advisor had provided information about the Advisor’s expenses relating to marketing the Funds, the Board considered the Advisor’s profitability without accounting for such expenses. The Board determined that, although only some of the Funds were profitable as of this time, the Advisor’s profitability with respect to each profitable Fund was not excessive. The Board considered whether the Advisor would benefit in other ways from its relationships with the Funds and concluded that there were no materialfall-out benefits likely to accrue to the Advisor related to the operation of the Funds.
Economies of Scale. The Board considered that certain Funds had attracted a substantial amount of assets, but determined that those Funds were not experiencing economies of scale beyond what was reflected in each Fund’s unitary fee, which the Board noted was very competitive. The Board considered that the other Funds were not experiencing economies of scale at this time and determined to revisit this matter after the Funds had attracted more assets.
Given all the information available to it and considering all material factors, the Board concluded that the Investment Advisory Agreement was fair and reasonable and it was unanimously approved.
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DBX ETF Trust
Proxy Voting Policies and Procedures
The Funds’ policies and procedures for voting proxies for portfolio securities and information about how each Fund voted proxies related to its portfolio securities during the most recent12-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 FormN-Q or FormN-PORT (available for filings after March 31, 2019). 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 at855-329-3837.
Information about each Fund’s portfolio holdings is available daily at www.Xtrackers.com.
Discount & Premium Information
Information regarding how often shares of each Fund traded on NYSE Arca at a price above (i.e.,at a premium) or below (i.e., at a discount) the NAV of the Fund can be found at www.Xtrackers.com.
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DBX ETF Trust
DBX Advisors LLC (“Advisors”) collectsnon-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 anynon-public personal information about you to anyone, other than as set forth below, as permitted by applicable law and regulation. Advisors may disclosenon-public personal information about you to the funds in which you invest, to Advisors’ affiliates, and tonon-affiliated companies that work with Advisors to service your account(s), or to provide services or process transactions that you have requested. Advisors may disclosenon-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 disclosenon-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 yournon-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 thanmedium-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 arenon-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 NYSE Arca, Inc. Transactions in Fund shares may result in brokerage commissions and may generate tax consequences. There can be no assurance that an active trading market for shares of a Fund will develop or be maintained.
DBX ETF Trust Funds are distributed by ALPS Distributors, Inc. (“ALPS”). The Funds are managed by DBX Advisors LLC which is not affiliated with ALPS.
The brand DWS represents DWS Group GmbH & Co. KGaA and any of its subsidiaries such as DWS Distributors, Inc. which offers investment products or 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 © 2019 DWS Group. All rights reserved. XtrackersTM is a trademark of DWS Investment GmbH. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
Not FDIC Insured | No Bank Guarantee | May Lose Value
DBX ETF Trust
Investment advisor DBX Advisors LLC 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-045855-4 (4/19) DBX003833 (4/20)
February 28, 2019
Semi-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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Board Considerations in Approval of Investment Advisory Contracts | 88 | |||
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To our Shareholders:(Unaudited)
Dear Shareholder,
We are pleased to provide this semi-annual report on our ETFs tracking the fixed income market for the period ended February 28, 2019.
Global economic activity moderated to its long-term trend during the reporting period, led by a relatively strong U.S., but weakened activity in Europe, China and Japan. Despite previous rate hikes and a weaker global backdrop, the U.S. economy remained on a solid footing backed by strong employment, a patient Federal Reserve Board (FRB) and potential relief around U.S.-China trade tensions. Meanwhile, Eurozone growth slowed, undermined by Germany’s poor manufacturing Purchasing Managers’ Index, auto manufacturing contraction, and civil unrest in France. The region is also prone to ano-deal Brexit becoming more likely given the region’s sizeable trade surplus with the U.K. Emerging-market (EM) capital flows were affected by tighter USD funding conditions, while uncertainty on trade talks and country-specific risks added to the woes.
Global equity markets posted positive performance during the reporting period, recovering from losses due to the deepsell-off late in 2018. U.S. equities have also been more resilient than other markets due to tightening liquidity conditions and trade frictions. With the progress on trade talks and resolution of the U.S. government shutdown already baked in, the focus will turn increasingly towards economic growth prospects and their impact on corporate earnings. Meanwhile, major central banks are moving towards a dovish stance owing to the backdrop of rising macro-economic challenges. The FRB raised its key interest rate by .25% and kept the rate unchanged at its December and January meetings, respectively. Although the dot plot was left unchanged this year, the FRB highlighted its data-dependency and caution in terms of further rate hikes. U.S. government debt yields experienced a decline as global growth fears continued to weigh on equity markets and buoyed safe-haven assets.
Although the Eurozone faced headwinds from weak economics and unsettled politics, the economy is likely to improve from strengthening labor markets and the continued accommodative monetary stance. The European Central Bank (ECB) announced the end of net asset purchases and focused its attention on quantitative easing reinvestments. The ECB also signaled keeping its rate low at least through the end of 2019 and revised its growth forecast slightly downward. In addition, European equities trailed the global and U.S. benchmarks due to weaker earnings in Europe relative to the rest of the world. On the other hand, political uncertainty, and concerns over Italian banks, continued to weigh on sovereign spreads. Elsewhere, the Bank of Japan decided to stand pat on monetary policy, to maintain its yield curve control policy and purchase of assets other than long-term Japanese government bonds. The Bank of England decided to stand down on any policy changes towards the end of the period due to uncertainty around an amicable Brexit.
Global risk appetite remains soft as the market frets about slowing growth and U.S.-China trade turbulence. However, favorable employment rates, some acceleration in wage growth, along with fiscal easing should instill confidence in central banks to tighten policy further. That said, we feel major central banks’ aggregate balance sheets will shrink in 2019, marking a significant shift from quantitative easing to quantitative tightening, which could push yields higher. Given this economic backdrop of a rising rate environment, hedging interest rate exposure would play a significant role in managing investments in fixed income markets.
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 (IFIX)
The Xtrackers Barclays International Corporate Bond Hedged ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the 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.
Quality* as of 2/28/19 |
Description | % of Market Value | |||
AAA | 2.3% | |||
AA | 22.4% | |||
A | 32.3% | |||
BBB | 43.0% | |||
|
| |||
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 2/28/19 |
Netherlands | 19.2% | |||
United Kingdom | 16.0% | |||
United States | 15.8% | |||
France | 13.5% | |||
Canada | 9.3% | |||
Germany | 6.2% | |||
Australia | 4.2% | |||
Japan | 4.0% | |||
Italy | 3.8% | |||
Spain | 2.4% | |||
Other | 5.6% | |||
|
| |||
Total | 100.0% |
Sector Diversification* as of 2/28/19 |
Financial | 40.6% | |||
Consumer,Non-cyclical | 14.2% | |||
Consumer, Cyclical | 9.4% | |||
Utilities | 8.6% | |||
Industrial | 8.0% | |||
Communications | 8.0% | |||
Energy | 4.9% | |||
Technology | 3.0% | |||
Basic Materials | 2.9% | |||
Government | 0.4% | |||
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| |||
Total | 100.0% |
Modified duration as of 2/28/19: 5.5 years
Modified duration is an approximate measure of a fund’s sensitivity to movements in interest rates based on the current rate environment.
* As a percent of total investments excluding cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 9.
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DBX ETF Trust
Portfolio Summary(Unaudited)
Xtrackers Barclays International Treasury Bond Hedged ETF (IGVT)
The Xtrackers Barclays International Treasury Bond Hedged ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the 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 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.
Quality* as of 2/28/19 |
Description | % of Market Value | |||
AAA | 20.9% | |||
AA | 28.3% | |||
A | 37.6% | |||
BBB | 13.1% | |||
BB | 0.1% | |||
|
| |||
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 2/28/19 |
Japan | 24.2% | |||
France | 7.0% | |||
United Kingdom | 7.0% | |||
Italy | 6.2% | |||
Germany | 4.7% | |||
Spain | 4.6% | |||
Belgium | 4.5% | |||
South Korea | 4.4% | |||
Australia | 4.3% | |||
Canada | 4.3% | |||
Netherlands | 4.2% | |||
Austria | 2.9% | |||
Other | 21.7% | |||
|
| |||
Total | 100.0% |
Modified duration as of 2/28/19: 8.2 years
Modified duration is an approximate measure of a fund’s sensitivity to movements in interest rates based on the current rate environment.
* As a percent of total investments excluding cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 14.
3
DBX ETF Trust
Portfolio Summary(Unaudited)
Xtrackers High Beta High Yield Bond ETF (HYUP)
The Xtrackers High Beta High Yield Bond ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the Solactive USD High Yield Corporates Total Market High Beta Index (the “Underlying Index”). The Underlying Index is designed to track the performance of the segment of the 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.
Quality* as of 2/28/19 |
Description | % of Market Value | |||
BBB | 3.5% | |||
BB | 38.8% | |||
B | 45.5% | |||
CCC | 11.9% | |||
CC | 0.3% | |||
|
| |||
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 2/28/19 |
United States | 79.8% | |||
Luxembourg | 5.6% | |||
Canada | 4.0% | |||
Netherlands | 2.5% | |||
Other | 8.1% | |||
|
| |||
Total | 100.0% |
Sector Diversification* as of 2/28/19 |
Communications | 26.3% | |||
Consumer,Non-cyclical | 19.9% | |||
Consumer, Cyclical | 12.2% | |||
Energy | 11.6% | |||
Financial | 9.7% | |||
Industrial | 8.0% | |||
Technology | 5.4% | |||
Basic Materials | 4.5% | |||
Utilities | 2.3% | |||
Diversified | 0.1% | |||
|
| |||
Total | 100.0% |
Modified duration as of 2/28/19: 4.5 years
Modified duration is an approximate measure of a fund’s sensitivity to movements in interest rates based on the current rate environment.
* As a percent of total investments excluding securities lending collateral and cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 21.
4
DBX ETF Trust
Portfolio Summary(Unaudited)
Xtrackers Low Beta High Yield Bond ETF (HYDW)
The Xtrackers Low Beta High Yield Bond ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the Solactive USD High Yield Corporates Total Market Low Beta Index (the “Underlying Index”). The Underlying Index is designed to track the performance of the segment of the 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.
Quality* as of 2/28/19 |
Description | % of Market Value | |||
BBB | 13.8% | |||
BB | 76.1% | |||
B | 10.1% | |||
|
| |||
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 2/28/19 |
United States | 91.0% | |||
Canada | 2.9% | |||
Other | 6.1% | |||
|
| |||
Total | 100.0% |
Sector Diversification* as of 2/28/19 |
Communications | 20.6% | |||
Consumer,Non-cyclical | 16.9% | |||
Energy | 15.9% | |||
Consumer, Cyclical | 13.4% | |||
Industrial | 10.5% | |||
Financial | 9.0% | |||
Technology | 5.5% | |||
Basic Materials | 4.7% | |||
Utilities | 3.5% | |||
|
| |||
Total | 100.0% |
Modified duration as of 2/28/19: 4.0 years
Modified duration is an approximate measure of a fund’s sensitivity to movements in interest rates based on the current rate environment.
* As a percent of total investments excluding securities lending collateral and cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 32.
5
DBX ETF Trust
Portfolio Summary(Unaudited)
Xtrackers Short Duration High Yield Bond ETF (SHYL)
The Xtrackers Short Duration High Yield Bond ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the Solactive USD High Yield Corporates Total Market0-5 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.
Quality* as of 2/28/19 |
Description | % of Market Value | |||
BBB | 8.8% | |||
BB | 53.8% | |||
B | 29.8% | |||
CCC | 7.0% | |||
CC | 0.6% | |||
|
| |||
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 2/28/19 |
United States | 85.2% | |||
Luxembourg | 3.7% | |||
Canada | 3.2% | |||
Ireland | 2.3% | |||
United Kingdom | 2.2% | |||
Other | 3.4% | |||
|
| |||
Total | 100.0% |
Sector Diversification* as of 2/28/19 |
Communications | 22.1% | |||
Consumer,Non-cyclical | 18.9% | |||
Energy | 13.3% | |||
Consumer, Cyclical | 12.2% | |||
Financial | 10.4% | |||
Industrial | 9.5% | |||
Technology | 6.2% | |||
Basic Materials | 5.8% | |||
Utilities | 1.6% | |||
|
| |||
Total | 100.0% |
Modified duration as of 2/28/19: 2.7 years
Modified duration is an approximate measure of a fund’s sensitivity to movements in interest rates based on the current rate environment.
* As a percent of total investments excluding securities lending collateral and cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 41.
6
DBX ETF Trust
Portfolio Summary(Unaudited)
Xtrackers USD High Yield Corporate Bond ETF (HYLB)
The Xtrackers USD High Yield Corporate Bond ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the Solactive USD High Yield Corporates Total Market Index (the “Underlying Index”). The Underlying Index is designed to track the performance of a basket of U.S. dollar-denominated high yield liquid corporate bonds. It is not possible to invest directly into an index.
Quality* as of 2/28/19 |
Description | % of Market Value | |||
BBB | 8.5% | |||
BB | 55.6% | |||
B | 29.5% | |||
CCC | 6.2% | |||
C | 0.2% | |||
|
| |||
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 2/28/19 |
United States | 85.2% | |||
Canada | 3.5% | |||
Luxembourg | 3.3% | |||
Other | 8.0% | |||
|
| |||
Total | 100.0% |
Sector Diversification* as of 2/28/19 |
Communications | 23.6% | |||
Consumer,Non-cyclical | 18.5% | |||
Energy | 13.5% | |||
Consumer, Cyclical | 12.7% | |||
Financial | 9.5% | |||
Industrial | 9.3% | |||
Technology | 5.3% | |||
Basic Materials | 4.7% | |||
Utilities | 2.9% | |||
Diversified | 0% | |||
|
| |||
Total | 100.0% |
Modified duration as of 2/28/19: 4.2 years
Modified duration is an approximate measure of a fund’s sensitivity to movements in interest rates based on the current rate environment.
* As a percent of total investments excluding securities lending collateral and cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 50.
7
DBX ETF Trust
As a shareholder of one or more of the Funds, you incur two types of costs: (1) transaction costs, including brokerage commissions paid on purchases and sales of fund shares, and (2) ongoing costs, including management fees and other Fund expenses. In the most recentsix-month period the Funds limited these expenses; had they not done so, expenses would have been higher. The expense examples below are intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with the ongoing costs of investing in other funds.
The examples in the tables are based on an investment of $1,000 invested at the beginning of thesix-month period and held for the entire period (September 1, 2018 to February 28, 2019).
Actual expenses
The first line in the following tables provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading “Expenses Paid During the Period” to estimate the expenses you paid on your account during this period.
Hypothetical example for comparison purposes
The second line in the following tables provides information about hypothetical account values and hypothetical expenses based on the Funds’ actual expense ratios and an assumed rate of return of 5% per year before expenses (which is not the Funds’ actual return). The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Please note that the expenses shown in the tables are meant to highlight your ongoing costs only, and do not reflect any transactional costs. Therefore the second line in the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
Beginning Account Value September 1, 2018 | Ending Account Value February 28, 2019 | Annualized Expense Ratio | Expenses Paid During the Period Per $1,000(1) | |||||||||||||
Xtrackers Barclays International Corporate Bond Hedged ETF |
| |||||||||||||||
Actual | $ | 1,000.00 | $ | 1,020.10 | 0.30 | % | $ | 1.50 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,023.31 | 0.30 | % | $ | 1.51 | ||||||||
Xtrackers Barclays International Treasury Bond Hedged ETF |
| |||||||||||||||
Actual | $ | 1,000.00 | $ | 1,029.90 | 0.25 | % | $ | 1.26 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,023.55 | 0.25 | % | $ | 1.25 | ||||||||
Xtrackers High Beta High Yield Bond ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,016.90 | 0.35 | % | $ | 1.75 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,023.06 | 0.35 | % | $ | 1.76 | ||||||||
Xtrackers Low Beta High Yield Bond ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,030.20 | 0.25 | % | $ | 1.26 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,023.55 | 0.25 | % | $ | 1.25 | ||||||||
Xtrackers Short Duration High Yield Bond ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,021.30 | 0.20 | % | $ | 1.00 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,023.80 | 0.20 | % | $ | 1.00 | ||||||||
Xtrackers USD High Yield Corporate Bond ETF | ||||||||||||||||
Actual | $ | 1,000.00 | $ | 1,023.30 | 0.20 | % | $ | 1.00 | ||||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,023.80 | 0.20 | % | $ | 1.00 |
(1) Expenses are equal to each Fund’s annualized expense ratio, multiplied by the average account value over the period, multiplied by 181 (the number of days in the most recentsix-month period), then divided by 365.
8
DBX ETF Trust
Xtrackers Barclays International Corporate Bond Hedged ETF
February 28, 2019 (Unaudited)
Principal | Value | |||||||||||
CORPORATE BONDS — 97.8% |
| |||||||||||
Australia — 4.1% |
| |||||||||||
BHP Billiton Finance Ltd., REGS Series MTN, | AUD | 50,000 | $ | 35,706 | ||||||||
National Australia Bank Ltd., REGS Series GMTN, | EUR | 15,000 | 17,519 | |||||||||
QPH Finance Co. Pty Ltd. Series MTN, | AUD | 50,000 | 37,071 | |||||||||
Wesfarmers Ltd., REGS Series EMTN, | EUR | 100,000 | 116,959 | |||||||||
|
| |||||||||||
207,255 | ||||||||||||
|
| |||||||||||
Austria — 1.0% | ||||||||||||
OMV AG, REGS Series EMTN, | EUR | 35,000 | 39,969 | |||||||||
Vienna Insurance Group AG Wiener Versicherung Gruppe, REGS | EUR | 10,000 | 12,068 | |||||||||
|
| |||||||||||
52,037 | ||||||||||||
|
| |||||||||||
Belgium — 1.7% | ||||||||||||
Anheuser-Busch InBev SA/NV, REGS Series EMTN, 0.625%, 3/17/20 | EUR | 35,000 | 40,076 | |||||||||
Series EMTN, 1.75%, 3/07/25 | GBP | 25,000 | 31,943 | |||||||||
Series EMTN, 2.75%, 3/17/36 | EUR | 10,000 | 12,012 | |||||||||
|
| |||||||||||
84,031 | ||||||||||||
|
| |||||||||||
Canada — 9.2% | ||||||||||||
407 International, Inc. Series MTN, | CAD | 60,000 | 45,200 | |||||||||
Bank of Montreal Series DPNT, | CAD | 50,000 | 38,835 | |||||||||
Bank of Nova Scotia Series DPNT, | CAD | 50,000 | 38,552 | |||||||||
Bell Canada, Inc., REGS Series MTN, | CAD | 15,000 | 11,326 | |||||||||
Brookfield Asset Management, Inc. Series MTN, | CAD | 25,000 | 18,856 | |||||||||
Canadian Natural Resources Ltd. Series MTN, | CAD | 10,000 | 7,518 | |||||||||
CU, Inc. | CAD | 20,000 | 17,225 | |||||||||
Hydro One, Inc. Series MTN, | CAD | 20,000 | 15,064 | |||||||||
Inter Pipeline Ltd. Series MTN, | CAD | 100,000 | 74,854 | |||||||||
Loblaw Cos. Ltd. Series MTN, | CAD | 10,000 | 9,205 | |||||||||
McGill University Series B, | CAD | 5,000 | 4,234 | |||||||||
Metro, Inc. Series MTN, | CAD | 20,000 | 15,345 | |||||||||
OMERS Realty Corp. Series 9, 3.244%, 10/04/27 | CAD | 10,000 | 7,723 |
Principal | Value | |||||||||||
Canada (Continued) | ||||||||||||
Royal Bank of Canada Series DPNT, | CAD | 35,000 | $ | 26,412 | ||||||||
Royal Office Finance LP Series A, | CAD | 35,999 | 32,450 | |||||||||
Shaw Communications, Inc. | CAD | 30,000 | 23,074 | |||||||||
Suncor Energy, Inc. Series MTN, | CAD | 10,000 | 7,676 | |||||||||
Toronto-Dominion Bank Series DPNT, | CAD | 85,000 | 66,440 | |||||||||
|
| |||||||||||
459,989 | ||||||||||||
|
| |||||||||||
France — 13.2% | ||||||||||||
BNP Paribas SA Series EMTN, | EUR | 40,000 | 50,691 | |||||||||
Bouygues SA, REGS | EUR | 50,000 | 60,188 | |||||||||
Engie SA, REGS Series EMTN, | EUR | 5,000 | 9,828 | |||||||||
Klepierre SA, REGS Series EMTN, | EUR | 50,000 | 59,887 | |||||||||
LVMH Moet Hennessy Louis Vuitton SE, REGS | GBP | 10,000 | 13,066 | |||||||||
Series EMTN, 0.75%, 5/26/24 | EUR | 30,000 | 34,628 | |||||||||
Orange SA, REGS Series EMTN, | EUR | 100,000 | 128,161 | |||||||||
PSA Tresorerie GIE | EUR | 5,000 | 7,111 | |||||||||
RCI Banque SA, REGS Series EMTN, | EUR | 15,000 | 16,626 | |||||||||
Sodexo SA, REGS | EUR | 100,000 | 110,439 | |||||||||
Suez, REGS Series EMTN, | EUR | 50,000 | 72,142 | |||||||||
Total Capital International SA, REGS Series EMTN, | GBP | 10,000 | 13,300 | |||||||||
Total Capital SA, REGS Series EMTN, | EUR | 50,000 | 70,806 | |||||||||
Veolia Environnement SA Series EMTN, | EUR | 10,000 | 17,697 | |||||||||
|
| |||||||||||
664,570 | ||||||||||||
|
| |||||||||||
Germany — 6.0% | ||||||||||||
BASF SE, REGS Series EMTN, | EUR | 50,000 | 59,018 | |||||||||
Series DIP, | EUR | 10,000 | 11,352 | |||||||||
Bayer AG, REGS | EUR | 35,000 | 40,598 | |||||||||
Commerzbank AG, REGS Series EMTN, | EUR | 10,000 | 11,468 | |||||||||
Daimler AG, REGS Series EMTN, | EUR | 30,000 | 33,413 | |||||||||
Deutsche Boerse AG, REGS | EUR | 10,000 | 11,745 |
See Notes to Financial Statements. | 9 |
DBX ETF Trust
Schedule of Investments
Xtrackers Barclays International Corporate Bond Hedged ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||||||
Germany (Continued) | ||||||||||||
Deutsche Post AG, REGS | EUR | 15,000 | $ | 19,356 | ||||||||
Series EMTN, 1.00%, 12/13/27 | EUR | 15,000 | 17,013 | |||||||||
E.ON SE, REGS Series EMTN, | EUR | 10,000 | 11,486 | |||||||||
Henkel AG & Co. KGaA, REGS Series EMTN, | EUR | 10,000 | 11,363 | |||||||||
HOCHTIEF AG, REGS Series EMTN, | EUR | 15,000 | 17,585 | |||||||||
Infineon Technologies AG, REGS | EUR | 25,000 | 29,404 | |||||||||
Merck KGaA, REGS, | EUR | 25,000 | 30,126 | |||||||||
|
| |||||||||||
303,927 | ||||||||||||
|
| |||||||||||
Ireland — 1.2% | ||||||||||||
Fresenius Finance Ireland PLC, REGS | EUR | 30,000 | 35,747 | |||||||||
GE Capital European Funding Unlimited Co. Series EMTN, | EUR | 5,000 | 7,673 | |||||||||
GE Capital UK Funding Unlimited Co. Series EMTN, | GBP | 10,000 | 17,274 | |||||||||
|
| |||||||||||
60,694 | ||||||||||||
|
| |||||||||||
Italy — 3.7% | ||||||||||||
Assicurazioni Generali SpA, REGS Series EMTN, | EUR | 50,000 | 68,374 | |||||||||
UniCredit SpA, REGS Series EMTN, | EUR | 100,000 | 119,419 | |||||||||
|
| |||||||||||
187,793 | ||||||||||||
|
| |||||||||||
Japan — 3.6% | ||||||||||||
Aozora Bank Ltd. Series 615, | JPY | 10,000,000 | 89,973 | |||||||||
Shinkin Central Bank Series 323, | JPY | 10,000,000 | 89,684 | |||||||||
|
| |||||||||||
179,657 | ||||||||||||
|
| |||||||||||
Luxembourg — 1.6% | ||||||||||||
Hannover Finance Luxembourg SA | EUR | 50,000 | 61,364 | |||||||||
HeidelbergCement Finance Luxembourg SA, REGS Series EMTN, | EUR | 15,000 | 16,587 | |||||||||
|
| |||||||||||
77,951 | ||||||||||||
|
| |||||||||||
Netherlands — 18.9% | ||||||||||||
ABN AMRO Bank NV, REGS Series EMTN, | EUR | 30,000 | 34,489 | |||||||||
Allianz Finance II BV, REGS Series 61, | EUR | 100,000 | 134,990 | |||||||||
BMW Finance NV, REGS Series EMTN, | EUR | 40,000 | 45,513 |
Principal | Value | |||||||||||
Netherlands (Continued) | ||||||||||||
Cooperatieve Rabobank UA Series GMTN, | GBP | 10,000 | $ | 19,130 | ||||||||
Cooperatieve Rabobank UA, REGS Series EMTN, 4.75%, 6/06/22 | EUR | 65,000 | 85,060 | |||||||||
Series GMTN, 1.375%, 2/03/27 | EUR | 15,000 | 18,052 | |||||||||
Deutsche Telekom International Finance BV, REGS Series EMTN, | EUR | 20,000 | 23,085 | |||||||||
E.ON International Finance BV Series EMTN, | GBP | 15,000 | 27,005 | |||||||||
Enel Finance International NV Series EMTN, | EUR | 30,000 | 41,203 | |||||||||
Evonik Finance BV, REGS Series EMTN, | EUR | 20,000 | 21,307 | |||||||||
innogy Finance BV, REGS Series EMTN, 1.25%, 10/19/27 | EUR | 10,000 | 11,335 | |||||||||
Series EMTN, 6.25%, 6/03/30 | GBP | 15,000 | 26,015 | |||||||||
Series EMTN, 5.75%, 2/14/33 | EUR | 10,000 | 16,307 | |||||||||
Linde Finance BV, REGS Series EMTN, | EUR | 15,000 | 17,223 | |||||||||
Naturgy Finance BV, REGS Series EMTN, | EUR | 100,000 | 126,313 | |||||||||
Roche Finance Europe BV, REGS Series EMTN, | EUR | 25,000 | 29,298 | |||||||||
Shell International Finance BV, REGS Series EMTN, | CHF | 25,000 | 26,191 | |||||||||
Siemens Financieringsmaatschappij NV, REGS Series EMTN, | EUR | 50,000 | 66,523 | |||||||||
Telefonica Europe BV, REGS Series EMTN, | EUR | 10,000 | 16,092 | |||||||||
Volkswagen Financial Services NV, REGS Series EMTN, | GBP | 40,000 | 51,987 | |||||||||
Volkswagen International Finance NV, REGS | EUR | 50,000 | 58,730 | |||||||||
Vonovia Finance BV, REGS Series DIP, | EUR | 45,000 | 52,092 | |||||||||
|
| |||||||||||
947,940 | ||||||||||||
|
| |||||||||||
Spain — 2.3% | ||||||||||||
Banco Santander SA, REGS Series EMTN, | EUR | 100,000 | 116,725 | |||||||||
|
| |||||||||||
United Kingdom — 15.7% | ||||||||||||
Barclays Bank PLC, REGS Series EMTN, | EUR | 50,000 | 65,271 | |||||||||
BAT International Finance PLC, REGS Series EMTN, | EUR | 50,000 | 59,834 |
See Notes to Financial Statements. | 10 |
DBX ETF Trust
Schedule of Investments
Xtrackers Barclays International Corporate Bond Hedged ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||||||
United Kingdom (Continued) | ||||||||||||
Credit Agricole SA, REGS Series EMTN, | EUR | 100,000 | $ | 131,285 | ||||||||
GlaxoSmithKline Capital PLC Series EMTN, | EUR | 25,000 | 34,186 | |||||||||
Heathrow Funding Ltd., REGS | GBP | 50,000 | 74,762 | |||||||||
HSBC Bank PLC Series EMTN, | GBP | 50,000 | 77,096 | |||||||||
HSBC Bank PLC, REGS | EUR | 50,000 | 61,069 | |||||||||
Lloyds Bank PLC, REGS | EUR | 100,000 | 115,986 | |||||||||
Series EMTN, 7.625%, 4/22/25 | GBP | 10,000 | 16,748 | |||||||||
Segro PLC | GBP | 15,000 | 26,280 | |||||||||
Severn Trent Utilities Finance PLC, REGS | GBP | 10,000 | 17,488 | |||||||||
Southern Electric Power Distribution PLC, REGS | GBP | 10,000 | 16,766 | |||||||||
THFC Funding No 1 PLC | GBP | 25,000 | 41,783 | |||||||||
Vodafone Group PLC, REGS Series EMTN, | GBP | 30,000 | 52,360 | |||||||||
|
| |||||||||||
790,914 | ||||||||||||
|
| |||||||||||
United States — 15.6% | ||||||||||||
Apple, Inc. Series EMTN, | EUR | 100,000 | 117,718 | |||||||||
AT&T, Inc. | EUR | 100,000 | 122,823 | |||||||||
FedEx Corp. | EUR | 50,000 | 57,932 | |||||||||
General Electric Co. Series EMTN, | GBP | 15,000 | 22,810 | |||||||||
Goldman Sachs Group, Inc., REGS Series EMTN, 1.25%, 5/01/25 | EUR | 30,000 | 34,134 | |||||||||
Series EMTN, 1.00%, 11/24/25 | CHF | 5,000 | 5,031 |
Principal | Value | |||||||||||
United States (Continued) | ||||||||||||
Johnson & Johnson | GBP | 50,000 | $ | 79,952 | ||||||||
JPMorgan Chase & Co., REGS Series EMTN, | CHF | 5,000 | 5,118 | |||||||||
Kraft Heinz Foods Co., REGS | EUR | 100,000 | 114,170 | |||||||||
Prologis LP | EUR | 100,000 | 115,859 | |||||||||
Verizon Communications, Inc., REGS Series MTN, | AUD | 20,000 | 14,485 | |||||||||
Walmart, Inc. | GBP | 50,000 | 91,674 | |||||||||
|
| |||||||||||
781,706 | ||||||||||||
|
| |||||||||||
TOTAL CORPORATE BONDS | 4,915,189 | |||||||||||
|
| |||||||||||
SOVEREIGN BOND — 0.3% |
| |||||||||||
Japan — 0.3% |
| |||||||||||
Japan Government Ten Year Bond Series 345, | JPY | 2,000,000 | 18,285 | |||||||||
|
| |||||||||||
TOTAL SOVEREIGN BOND | 18,285 | |||||||||||
|
| |||||||||||
Number | ||||||||||||
CASH EQUIVALENTS — 0.3% |
| |||||||||||
DWS Government Money Market Series “Institutional Shares”, 2.38% (b) | 14,461 | 14,461 | ||||||||||
|
| |||||||||||
TOTAL INVESTMENTS — 98.4% (Cost $4,903,834) | $ | 4,947,935 | ||||||||||
Other assets and liabilities, net — 1.6% | 79,597 | |||||||||||
|
| |||||||||||
NET ASSETS — 100.0% | $ | 5,027,532 | ||||||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2019 is as follows:
| Value ($) at 8/31/2018 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2019 | Value ($) at 2/28/2019 | |||||||||||||||||||||||||||||
CASH EQUIVALENTS —0.3% | ||||||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 2.38% (b) | ||||||||||||||||||||||||||||||||||||||
— | 150,530 | (136,069 | ) | — | — | 173 | — | 14,461 | 14,461 |
(a) | Perpetual, callable security with no stated maturity date. |
(b) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualizedseven-day yield at period end. |
DIP: | Debtor In Possession |
DPNT: | Deposit Note |
See Notes to Financial Statements. | 11 |
DBX ETF Trust
Schedule of Investments
Xtrackers Barclays International Corporate Bond Hedged ETF(Continued)
February 28, 2019 (Unaudited)
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 February 28, 2019, 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 | 3/5/2019 | AUD | 124,689 | USD | 90,951 | $ | 2,495 | $ | — | |||||||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | CAD | 599,670 | USD | 456,811 | 1,060 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | CAD | 9,550 | USD | 7,277 | 19 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | CHF | 36,600 | USD | 36,988 | 298 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | EUR | 2,990,380 | USD | 3,439,311 | 36,418 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | EUR | 1,500 | USD | 1,725 | 18 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | GBP | 554,051 | USD | 729,851 | — | (5,210 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | JPY | 22,020,000 | USD | 202,766 | 5,133 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | USD | 88,710 | AUD | 124,689 | — | (254 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | USD | 462,582 | CAD | 609,220 | 428 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | USD | 36,740 | CHF | 36,600 | — | (50 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | USD | 3,406,854 | EUR | 2,991,880 | — | (2,254 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | USD | 7,509 | GBP | 5,700 | 53 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | USD | 729,362 | GBP | 548,351 | — | (1,863 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | USD | 197,808 | JPY | 22,020,000 | — | (175 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 4/3/2019 | AUD | 124,689 | USD | 88,749 | 248 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 4/3/2019 | CAD | 609,220 | USD | 462,909 | — | (436 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 4/3/2019 | CHF | 36,600 | USD | 36,840 | 46 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 4/3/2019 | EUR | 2,991,880 | USD | 3,415,066 | 1,816 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 4/3/2019 | EUR | 67,850 | USD | 77,453 | 47 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 4/3/2019 | GBP | 548,351 | USD | 730,431 | 1,799 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 4/3/2019 | JPY | 22,020,000 | USD | 198,264 | 154 | — | |||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||
Total unrealized appreciation (depreciation) | $ | 50,032 | $ | (10,242 | ) | |||||||||||||||||||||||
|
|
|
|
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.
Currency Abbreviations
AUD | Australian Dollar |
CAD | Canadian Dollar |
CHF | Swiss Franc |
EUR | Euro |
GBP | Pound Sterling |
JPY | Japanese Yen |
USD | U.S. Dollar |
See Notes to Financial Statements. | 12 |
DBX ETF Trust
Schedule of Investments
Xtrackers Barclays International Corporate Bond Hedged ETF(Continued)
February 28, 2019 (Unaudited)
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2019 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 (c) | $ | — | $ | 4,915,189 | $ | — | $ | 4,915,189 | ||||||||
Sovereign Bond | — | 18,285 | — | 18,285 | ||||||||||||
Short-Term Investments | 14,461 | — | — | 14,461 | ||||||||||||
Derivatives (d) | ||||||||||||||||
Forward Foreign Currency Contracts | — | 50,032 | — | 50,032 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 14,461 | $ | 4,983,506 | $ | — | $ | 4,997,967 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liabilities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Derivatives (d) | ||||||||||||||||
Forward Foreign Currency Contracts | $ | — | $ | (10,242 | ) | $ | — | $ | (10,242 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | — | $ | (10,242 | ) | $ | — | $ | (10,242 | ) | ||||||
|
|
|
|
|
|
|
|
(c) | See Schedule of Investments for additional detailed categorizations. |
(d) | Derivatives include unrealized appreciation (depreciation) on forward foreign currency contracts. |
See Notes to Financial Statements. | 13 |
DBX ETF Trust
Schedule of Investments
XtrackersBarclays International Treasury Bond Hedged ETF
February 28, 2019 (Unaudited)
Principal | Value | |||||||||||
SOVEREIGN BONDS — 98.9% |
| |||||||||||
Australia — 4.3% |
| |||||||||||
Australia Government Bond | AUD | 20,000 | $ | 14,618 | ||||||||
5.75%, 7/15/22, REGS | AUD | 10,000 | 8,049 | |||||||||
2.25%, 11/21/22 | AUD | 140,000 | 101,502 | |||||||||
5.50%, 4/21/23, REGS | AUD | 50,000 | 40,913 | |||||||||
3.25%, 4/21/25, REGS | AUD | 50,000 | 38,382 | |||||||||
4.25%, 4/21/26, REGS | AUD | 20,000 | 16,386 | |||||||||
4.75%, 4/21/27, REGS | AUD | 25,000 | 21,390 | |||||||||
2.75%, 11/21/27, REGS | AUD | 25,000 | 18,726 | |||||||||
2.25%, 5/21/28, REGS | AUD | 20,000 | 14,384 | |||||||||
2.75%, 11/21/28, REGS | AUD | 140,000 | 104,986 | |||||||||
4.50%, 4/21/33, REGS | AUD | 25,000 | 22,557 | |||||||||
3.25%, 6/21/39, REGS | AUD | 10,000 | 7,903 | |||||||||
3.00%, 3/21/47, REGS | AUD | 20,000 | 15,107 | |||||||||
|
| |||||||||||
424,903 | ||||||||||||
|
| |||||||||||
Austria — 2.9% | ||||||||||||
Republic of Austria Government Bond | EUR | 25,000 | 30,140 | |||||||||
3.65%, 4/20/22, 144A, REGS | EUR | 40,000 | 51,212 | |||||||||
1.65%, 10/21/24, 144A, REGS | EUR | 5,000 | 6,233 | |||||||||
0.75%, 10/20/26, 144A, REGS | EUR | 10,000 | 11,826 | |||||||||
0.50%, 4/20/27, 144A, REGS | EUR | 5,000 | 5,780 | |||||||||
6.25%, 7/15/27 | EUR | 5,000 | 8,502 | |||||||||
0.75%, 2/20/28, 144A, REGS | EUR | 50,000 | 58,641 | |||||||||
2.40%, 5/23/34, 144A, REGS | EUR | 50,000 | 69,070 | |||||||||
3.15%, 6/20/44, 144A, REGS | EUR | 5,000 | 8,152 | |||||||||
1.50%, 2/20/47, 144A, REGS | EUR | 30,000 | 36,030 | |||||||||
|
| |||||||||||
285,586 | ||||||||||||
|
| |||||||||||
Belgium — 4.4% | ||||||||||||
Kingdom of Belgium Government Bond | EUR | 35,000 | 42,468 | |||||||||
4.25%, 9/28/21, 144A, REGS | EUR | 20,000 | 25,495 | |||||||||
4.00%, 3/28/22 | EUR | 5,000 | 6,455 | |||||||||
0.20%, 10/22/23, 144A, REGS | EUR | 55,000 | 63,515 | |||||||||
0.80%, 6/22/25, 144A, REGS | EUR | 25,000 | 29,632 | |||||||||
1.00%, 6/22/26, 144A, REGS | EUR | 25,000 | 29,929 | |||||||||
0.80%, 6/22/27, 144A, REGS | EUR | 40,000 | 46,859 | |||||||||
5.50%, 3/28/28 | EUR | 10,000 | 16,413 | |||||||||
0.80%, 6/22/28, 144A, REGS | EUR | 15,000 | 17,429 | |||||||||
1.00%, 6/22/31, 144A, REGS | EUR | 25,000 | 28,881 | |||||||||
1.25%, 4/22/33, REGS | EUR | 30,000 | 35,205 | |||||||||
3.00%, 6/22/34, 144A, REGS | EUR | 2,000 | 2,889 | |||||||||
5.00%, 3/28/35, 144A, REGS | EUR | 5,000 | 8,917 | |||||||||
4.25%, 3/28/41, 144A, REGS | EUR | 23,000 | 40,106 | |||||||||
1.60%, 6/22/47, 144A, REGS | EUR | 35,000 | 39,664 | |||||||||
2.15%, 6/22/66, 144A, REGS | EUR | 5,000 | 6,017 | |||||||||
|
| |||||||||||
439,874 | ||||||||||||
|
| |||||||||||
Canada — 4.3% | ||||||||||||
Canadian Government Bond | CAD | 75,000 | 58,192 | |||||||||
2.25%, 2/01/21 | CAD | 85,000 | 65,160 | |||||||||
0.75%, 3/01/21 | CAD | 30,000 | 22,342 |
Principal | Value | |||||||||||
Canada (Continued) | ||||||||||||
1.00%, 9/01/22 | CAD | 80,000 | $ | 59,157 | ||||||||
1.50%, 6/01/23 | CAD | 50,000 | 37,508 | |||||||||
8.00%, 6/01/27 | CAD | 25,000 | 27,726 | |||||||||
2.00%, 6/01/28 | CAD | 80,000 | 61,093 | |||||||||
5.75%, 6/01/29 | CAD | 10,000 | 10,248 | |||||||||
5.75%, 6/01/33 | CAD | 23,000 | 25,418 | |||||||||
3.50%, 12/01/45 | CAD | 27,000 | 25,881 | |||||||||
2.75%, 12/01/48 | CAD | 35,000 | 29,884 | |||||||||
|
| |||||||||||
422,609 | ||||||||||||
|
| |||||||||||
Cyprus — 0.1% | ||||||||||||
Cyprus Government International Bond | EUR | 7,000 | 8,340 | |||||||||
|
| |||||||||||
Czech Republic — 0.5% | ||||||||||||
Czech Republic Government Bond 5.70%, 5/25/24, REGS | CZK | 500,000 | 26,649 | |||||||||
1.00%, 6/26/26, REGS | CZK | 600,000 | 25,136 | |||||||||
|
| |||||||||||
51,785 | ||||||||||||
|
| |||||||||||
Denmark — 1.2% | ||||||||||||
Denmark Government Bond | DKK | 200,000 | 34,354 | |||||||||
0.50%, 11/15/27 | DKK | 200,000 | 31,601 | |||||||||
0.50%, 11/15/29, 144A, REGS | DKK | 325,000 | 50,682 | |||||||||
|
| |||||||||||
116,637 | ||||||||||||
|
| |||||||||||
Finland — 1.5% | ||||||||||||
Finland Government Bond | EUR | 35,000 | 40,325 | |||||||||
1.625%, 9/15/22, 144A, REGS | EUR | 25,000 | 30,386 | |||||||||
2.00%, 4/15/24, 144A, REGS | EUR | 25,000 | 31,504 | |||||||||
4.00%, 7/04/25, 144A, REGS | EUR | 5,000 | 7,127 | |||||||||
0.75%, 4/15/31, 144A, REGS | EUR | 20,000 | 22,996 | |||||||||
1.375%, 4/15/47, 144A, REGS | EUR | 10,000 | 12,164 | |||||||||
|
| |||||||||||
144,502 | ||||||||||||
|
| |||||||||||
France — 7.0% | ||||||||||||
French Republic Government Bond OAT | EUR | 50,000 | 57,594 | |||||||||
3.75%, 4/25/21, REGS | EUR | 25,000 | 31,003 | |||||||||
5/25/22, REGS | EUR | 50,000 | 57,458 | |||||||||
3/25/23, REGS | EUR | 70,000 | 80,276 | |||||||||
4.25%, 10/25/23, REGS | EUR | 10,000 | 13,719 | |||||||||
2.25%, 5/25/24, REGS | EUR | 100,000 | 127,509 | |||||||||
3.50%, 4/25/26, REGS | EUR | 6,000 | 8,442 | |||||||||
0.50%, 5/25/26, REGS | EUR | 60,000 | 69,625 | |||||||||
1.00%, 5/25/27, REGS | EUR | 10,000 | 11,962 | |||||||||
2.75%, 10/25/27, REGS | EUR | 10,000 | 13,671 | |||||||||
0.75%, 5/25/28, REGS | EUR | 5,000 | 5,814 | |||||||||
0.75%, 11/25/28, REGS | EUR | 30,000 | 34,704 | |||||||||
2.50%, 5/25/30, REGS | EUR | 25,000 | 33,937 | |||||||||
4.75%, 4/25/35, REGS | EUR | 8,000 | 14,166 | |||||||||
1.25%, 5/25/36, 144A, REGS | EUR | 10,000 | 11,541 | |||||||||
1.75%, 6/25/39, 144A, REGS | EUR | 35,000 | 43,198 | |||||||||
4.50%, 4/25/41, REGS | EUR | 2,000 | 3,678 |
See Notes to Financial Statements. | 14 |
DBX ETF Trust
Schedule of Investments
Xtrackers Barclays International Treasury Bond Hedged ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||||||
France (Continued) | ||||||||||||
3.25%, 5/25/45, REGS | EUR | 30,000 | $ | 47,515 | ||||||||
1.75%, 5/25/66, 144A, REGS | EUR | 20,000 | 22,400 | |||||||||
|
| |||||||||||
688,212 | ||||||||||||
|
| |||||||||||
Germany — 4.7% | ||||||||||||
Bundesrepublik Deutschland Bundesanleihe | EUR | 25,000 | 30,466 | |||||||||
1.75%, 7/04/22, REGS | EUR | 50,000 | 61,110 | |||||||||
1.75%, 2/15/24, REGS | EUR | 75,000 | 94,102 | |||||||||
0.50%, 2/15/26, REGS | EUR | 15,000 | 17,813 | |||||||||
0.25%, 2/15/27, REGS | EUR | 20,000 | 23,265 | |||||||||
0.50%, 2/15/28, REGS | EUR | 11,000 | 12,989 | |||||||||
4.75%, 7/04/28, REGS | EUR | 2,000 | 3,263 | |||||||||
0.25%, 8/15/28, REGS | EUR | 30,000 | 34,510 | |||||||||
6.25%, 1/04/30, REGS | EUR | 2,000 | 3,762 | |||||||||
4.75%, 7/04/34, REGS | EUR | 20,000 | 37,341 | |||||||||
3.25%, 7/04/42, REGS | EUR | 20,000 | 35,378 | |||||||||
2.50%, 7/04/44, REGS | EUR | 15,000 | 23,992 | |||||||||
2.50%, 8/15/46, REGS | EUR | 5,000 | 8,118 | |||||||||
1.25%, 8/15/48, REGS | EUR | 6,000 | 7,622 | |||||||||
Bundesschatzanweisungen | EUR | 60,000 | 68,813 | |||||||||
|
| |||||||||||
462,544 | ||||||||||||
|
| |||||||||||
Hungary — 0.4% | ||||||||||||
Hungary Government Bond | HUF | 7,000,000 | 25,425 | |||||||||
3.00%, 6/26/24 | HUF | 5,000,000 | 18,901 | |||||||||
|
| |||||||||||
44,326 | ||||||||||||
|
| |||||||||||
Indonesia — 1.6% | ||||||||||||
Indonesia Treasury Bond | IDR | 400,000,000 | 29,382 | |||||||||
8.375%, 9/15/26 | IDR | 500,000,000 | 36,796 | |||||||||
8.25%, 5/15/29 | IDR | 900,000,000 | 66,200 | |||||||||
6.375%, 4/15/42 | IDR | 400,000,000 | 22,498 | |||||||||
|
| |||||||||||
154,876 | ||||||||||||
|
| |||||||||||
Ireland — 1.6% | ||||||||||||
Ireland Government Bond | EUR | 20,000 | 26,470 | |||||||||
5.40%, 3/13/25 | EUR | 35,000 | 52,173 | |||||||||
1.00%, 5/15/26, REGS | EUR | 10,000 | 11,878 | |||||||||
0.90%, 5/15/28, REGS | EUR | 50,000 | 58,045 | |||||||||
2.40%, 5/15/30, REGS | EUR | 5,000 | 6,583 | |||||||||
2.00%, 2/18/45, REGS | EUR | 5,000 | 6,177 | |||||||||
|
| |||||||||||
161,326 | ||||||||||||
|
| |||||||||||
Israel — 0.7% | ||||||||||||
Israel Government Bond — Fixed | ILS | 110,000 | 40,410 | |||||||||
2.00%, 3/31/27 | ILS | 100,000 | 28,094 | |||||||||
|
| |||||||||||
68,504 | ||||||||||||
|
| |||||||||||
Italy — 6.2% | ||||||||||||
Italy Buoni Poliennali Del Tesoro | EUR | 30,000 | 34,029 | |||||||||
3.75%, 3/01/21 | EUR | 55,000 | 66,462 |
Principal | Value | |||||||||||
Italy (Continued) | ||||||||||||
3.75%, 8/01/21, 144A, REGS | EUR | 35,000 | $ | 42,578 | ||||||||
5.00%, 3/01/22 | EUR | 5,000 | 6,334 | |||||||||
0.95%, 3/15/23 | EUR | 30,000 | 33,436 | |||||||||
1.85%, 5/15/24 | EUR | 55,000 | 62,593 | |||||||||
1.45%, 11/15/24, REGS | EUR | 10,000 | 11,056 | |||||||||
1.45%, 5/15/25 | EUR | 40,000 | 43,849 | |||||||||
7.25%, 11/01/26 | EUR | 50,000 | 76,131 | |||||||||
6.50%, 11/01/27 | EUR | 5,000 | 7,403 | |||||||||
2.00%, 2/01/28, REGS | EUR | 60,000 | 65,276 | |||||||||
4.75%, 9/01/28, 144A, REGS | EUR | 10,000 | 13,377 | |||||||||
5.25%, 11/01/29 | EUR | 10,000 | 13,820 | |||||||||
3.50%, 3/01/30, 144A, REGS | EUR | 20,000 | 23,954 | |||||||||
1.65%, 3/01/32, 144A, REGS | EUR | 30,000 | 29,260 | |||||||||
5.00%, 8/01/34, 144A, REGS | EUR | 20,000 | 27,468 | |||||||||
2.95%, 9/01/38, 144A, REGS | EUR | 15,000 | 15,873 | |||||||||
4.75%, 9/01/44, 144A, REGS | EUR | 25,000 | 33,269 | |||||||||
2.80%, 3/01/67, 144A, REGS | EUR | 4,000 | 3,722 | |||||||||
|
| |||||||||||
609,890 | ||||||||||||
|
| |||||||||||
Japan — 23.9% | ||||||||||||
Japan Government Five Year Bond | JPY | 23,000,000 | 207,178 | |||||||||
0.10%, 6/20/21 | JPY | 4,000,000 | 36,099 | |||||||||
0.10%, 9/20/21 | JPY | 20,000,000 | 180,616 | |||||||||
0.10%, 6/20/22 | JPY | 3,000,000 | 27,149 | |||||||||
0.10%, 12/20/22 | JPY | 2,000,000 | 18,129 | |||||||||
0.10%, 3/20/23 | JPY | 2,000,000 | 18,142 | |||||||||
Japan Government Forty Year Bond | JPY | 5,000,000 | 55,421 | |||||||||
0.40%, 3/20/56 | JPY | 1,000,000 | 8,179 | |||||||||
Japan Government Ten Year Bond 1.20%, 12/20/20 | JPY | 10,000,000 | 91,908 | |||||||||
1.00%, 12/20/21 | JPY | 1,000,000 | 9,263 | |||||||||
0.90%, 6/20/22 | JPY | 5,000,000 | 46,437 | |||||||||
0.80%, 9/20/22 | JPY | 6,000,000 | 55,678 | |||||||||
0.60%, 3/20/23 | JPY | 2,000,000 | 18,501 | |||||||||
0.80%, 6/20/23 | JPY | 1,000,000 | 9,346 | |||||||||
0.60%, 12/20/23 | JPY | 2,000,000 | 18,603 | |||||||||
0.60%, 3/20/24 | JPY | 1,000,000 | 9,318 | |||||||||
0.30%, 12/20/24 | JPY | 22,000,000 | 202,670 | |||||||||
0.40%, 3/20/25 | JPY | 3,000,000 | 27,834 | |||||||||
0.10%, 9/20/26 | JPY | 1,000,000 | 9,143 | |||||||||
0.10%, 12/20/26 | JPY | 2,000,000 | 18,285 | |||||||||
0.10%, 12/20/27 | JPY | 4,000,000 | 36,490 | |||||||||
0.10%, 3/20/28 | JPY | 1,000,000 | 9,114 | |||||||||
0.10%, 6/20/28 | JPY | 1,000,000 | 9,103 | |||||||||
0.10%, 12/20/28 | JPY | 22,000,000 | 199,821 | |||||||||
Japan Government Thirty Year Bond | JPY | 1,000,000 | 11,586 | |||||||||
1.40%, 12/20/32 | JPY | 1,000,000 | 10,487 | |||||||||
2.50%, 3/20/38 | JPY | 9,000,000 | 111,966 | |||||||||
2.00%, 9/20/41 | JPY | 4,000,000 | 47,404 | |||||||||
1.90%, 9/20/42 | JPY | 1,000,000 | 11,735 | |||||||||
1.80%, 3/20/43 | JPY | 1,000,000 | 11,572 | |||||||||
1.60%, 6/20/45 | JPY | 1,000,000 | 11,261 |
See Notes to Financial Statements. | 15 |
DBX ETF Trust
Schedule of Investments
Xtrackers Barclays International Treasury Bond Hedged ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||||||
Japan (Continued) | ||||||||||||
1.40%, 9/20/45 | JPY | 1,200,000 | $ | 13,011 | ||||||||
0.50%, 9/20/46 | JPY | 17,000,000 | 149,798 | |||||||||
Japan Government Twenty Year Bond | JPY | 4,000,000 | 38,335 | |||||||||
2.10%, 9/20/25 | JPY | 17,500,000 | 180,372 | |||||||||
1.80%, 9/20/30 | JPY | 4,000,000 | 43,073 | |||||||||
1.90%, 6/20/31 | JPY | 1,000,000 | 10,949 | |||||||||
1.70%, 9/20/32 | JPY | 9,000,000 | 97,499 | |||||||||
1.70%, 6/20/33 | JPY | 5,000,000 | 54,426 | |||||||||
1.50%, 6/20/34 | JPY | 22,000,000 | 234,885 | |||||||||
|
| |||||||||||
2,360,786 | ||||||||||||
|
| |||||||||||
Lithuania — 0.1% | ||||||||||||
Lithuania Government International Bond | EUR | 5,000 | 5,814 | |||||||||
|
| |||||||||||
Luxembourg — 0.1% | ||||||||||||
Luxembourg Government Bond | EUR | 5,000 | 6,277 | |||||||||
|
| |||||||||||
Malaysia — 1.7% | ||||||||||||
Malaysia Government Bond | MYR | 350,000 | 86,246 | |||||||||
5.248%, 9/15/28 | MYR | 250,000 | 67,552 | |||||||||
Malaysia Government Investment Issue | MYR | 75,000 | 18,938 | |||||||||
|
| |||||||||||
172,736 | ||||||||||||
|
| |||||||||||
Mexico — 1.7% | ||||||||||||
Mexican Bonos | MXN | 1,000,000 | 49,646 | |||||||||
5.75%, 3/05/26 | MXN | 1,700,000 | 77,245 | |||||||||
7.50%, 6/03/27 | MXN | 500,000 | 24,935 | |||||||||
7.75%, 11/23/34 | MXN | 300,000 | 14,559 | |||||||||
|
| |||||||||||
166,385 | ||||||||||||
|
| |||||||||||
Netherlands — 4.1% | ||||||||||||
Netherlands Government Bond | EUR | 10,000 | 12,007 | |||||||||
1/15/22, 144A, REGS | EUR | 45,000 | 51,832 | |||||||||
7.50%, 1/15/23, 144A, REGS | EUR | 50,000 | 74,304 | |||||||||
1.75%, 7/15/23, 144A, REGS | EUR | 10,000 | 12,387 | |||||||||
2.00%, 7/15/24, 144A, REGS | EUR | 50,000 | 63,501 | |||||||||
0.50%, 7/15/26, 144A, REGS | EUR | 5,000 | 5,870 | |||||||||
0.75%, 7/15/27, 144A, REGS | EUR | 60,000 | 71,442 | |||||||||
2.50%, 1/15/33, 144A, REGS | EUR | 25,000 | 35,761 | |||||||||
4.00%, 1/15/37, 144A, REGS | EUR | 5,000 | 8,864 | |||||||||
3.75%, 1/15/42, 144A, REGS | EUR | 20,000 | 36,909 | |||||||||
2.75%, 1/15/47, 144A, REGS | EUR | 22,500 | 37,453 | |||||||||
|
| |||||||||||
410,330 | ||||||||||||
|
| |||||||||||
New Zealand — 0.5% | ||||||||||||
New Zealand Government Bond | NZD | 30,000 | 21,549 | |||||||||
4.50%, 4/15/27, REGS | NZD | 30,000 | 24,297 | |||||||||
|
| |||||||||||
45,846 | ||||||||||||
|
|
Principal | Value | |||||||||||
Norway — 0.5% | ||||||||||||
Norway Government Bond | NOK | 100,000 | $ | 12,350 | ||||||||
3.00%, 3/14/24, 144A, REGS | NOK | 200,000 | 25,202 | |||||||||
2.00%, 4/26/28, 144A, REGS | NOK | 100,000 | 11,963 | |||||||||
|
| |||||||||||
49,515 | ||||||||||||
|
| |||||||||||
Poland — 1.1% | ||||||||||||
Republic of Poland Government Bond | PLN | 75,000 | 21,018 | |||||||||
3.25%, 7/25/25 | PLN | 150,000 | 41,253 | |||||||||
2.50%, 7/25/26 | PLN | 175,000 | 45,874 | |||||||||
|
| |||||||||||
108,145 | ||||||||||||
|
| |||||||||||
Portugal — 1.8% | ||||||||||||
Portugal Obrigacoes do Tesouro OT | EUR | 10,000 | 12,122 | |||||||||
2.20%, 10/17/22, 144A, REGS | EUR | 25,000 | 30,788 | |||||||||
4.95%, 10/25/23, 144A, REGS | EUR | 30,000 | 41,710 | |||||||||
5.65%, 2/15/24, 144A, REGS | EUR | 5,000 | 7,181 | |||||||||
2.875%, 10/15/25, 144A, REGS | EUR | 15,000 | 19,445 | |||||||||
2.125%, 10/17/28, 144A, REGS | EUR | 40,000 | 48,769 | |||||||||
3.875%, 2/15/30, 144A, REGS | EUR | 5,000 | 7,000 | |||||||||
4.10%, 2/15/45, 144A, REGS | EUR | 10,000 | 14,682 | |||||||||
|
| |||||||||||
181,697 | ||||||||||||
|
| |||||||||||
Russia — 0.8% | ||||||||||||
Russian Federal Bond—OFZ | RUB | 2,500,000 | 37,938 | |||||||||
8.15%, 2/03/27 | RUB | 3,000,000 | 45,686 | |||||||||
|
| |||||||||||
83,624 | ||||||||||||
|
| |||||||||||
Singapore — 1.0% | ||||||||||||
Singapore Government Bond | SGD | 9,000 | 6,855 | |||||||||
3.00%, 9/01/24 | SGD | 65,000 | 50,337 | |||||||||
2.875%, 7/01/29 | SGD | 50,000 | 38,953 | |||||||||
|
| |||||||||||
96,145 | ||||||||||||
|
| |||||||||||
Slovak Republic — 0.5% | ||||||||||||
Slovakia Government Bond | EUR | 20,000 | 25,551 | |||||||||
0.625%, 5/22/26 | EUR | 15,000 | 17,332 | |||||||||
1.875%, 3/09/37, REGS | EUR | 5,000 | 6,106 | |||||||||
2.00%, 10/17/47, REGS | EUR | 2,000 | 2,401 | |||||||||
|
| |||||||||||
51,390 | ||||||||||||
|
| |||||||||||
Slovenia — 0.5% | ||||||||||||
Slovenia Government Bond | EUR | 15,000 | 17,893 | |||||||||
1.00%, 3/06/28, REGS | EUR | 25,000 | 28,912 | |||||||||
|
| |||||||||||
46,805 | ||||||||||||
|
| |||||||||||
South Korea — 4.3% | ||||||||||||
Korea International Bond | USD | 425,000 | 429,318 | |||||||||
|
|
See Notes to Financial Statements. | 16 |
DBX ETF Trust
Schedule of Investments
Xtrackers Barclays International Treasury Bond Hedged ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||||||
Spain — 4.5% | ||||||||||||
Spain Government Bond | EUR | 25,000 | $ | 29,857 | ||||||||
1.15%, 7/30/20 | EUR | 40,000 | 46,419 | |||||||||
0.75%, 7/30/21 | EUR | 25,000 | 29,057 | |||||||||
5.85%, 1/31/22, 144A, REGS | EUR | 5,000 | 6,670 | |||||||||
0.40%, 4/30/22 | EUR | 70,000 | 80,810 | |||||||||
5.90%, 7/30/26, 144A, REGS | EUR | 45,000 | 69,875 | |||||||||
1.40%, 7/30/28, 144A, REGS | EUR | 45,000 | 52,217 | |||||||||
6.00%, 1/31/29 | EUR | 10,000 | 16,480 | |||||||||
1.95%, 7/30/30, 144A, REGS | EUR | 5,000 | 6,012 | |||||||||
4.20%, 1/31/37, 144A, REGS | EUR | 35,000 | 53,677 | |||||||||
4.70%, 7/30/41, 144A, REGS | EUR | 8,000 | 13,219 | |||||||||
2.70%, 10/31/48, 144A, REGS | EUR | 35,000 | 42,213 | |||||||||
|
| |||||||||||
446,506 | ||||||||||||
|
| |||||||||||
Sweden — 0.8% | ||||||||||||
Sweden Government Bond | SEK | 350,000 | 43,541 | |||||||||
1.00%, 11/12/26, REGS | SEK | 300,000 | 34,353 | |||||||||
|
| |||||||||||
77,894 | ||||||||||||
|
| |||||||||||
Switzerland — 1.0% | ||||||||||||
Swiss Confederation Government Bond | CHF | 10,000 | 11,889 | |||||||||
1.50%, 7/24/25, REGS | CHF | 10,000 | 11,340 | |||||||||
0.50%, 5/27/30, REGS | CHF | 45,000 | 48,686 | |||||||||
0.50%, 6/27/32, REGS | CHF | 2,000 | 2,153 | |||||||||
4.00%, 1/06/49, REGS | CHF | 10,000 | 20,658 | |||||||||
|
| |||||||||||
94,726 | ||||||||||||
|
| |||||||||||
Thailand — 1.7% | ||||||||||||
Thailand Government Bond | THB | 1,000,000 | 34,431 | |||||||||
2.125%, 12/17/26 | THB | 3,000,000 | 93,298 | |||||||||
2.875%, 6/17/46 | THB | 1,400,000 | 42,132 | |||||||||
|
| |||||||||||
169,861 | ||||||||||||
|
| |||||||||||
United Kingdom — 6.9% | ||||||||||||
United Kingdom Gilt | GBP | 5,000 | 7,706 |
Principal | Value | |||||||||||
United Kingdom (Continued) | ||||||||||||
3.75%, 9/07/21 | GBP | 30,000 | $ | 42,701 | ||||||||
1.75%, 9/07/22, REGS | GBP | 25,000 | 34,146 | |||||||||
2.25%, 9/07/23, REGS | GBP | 70,000 | 98,148 | |||||||||
5.00%, 3/07/25, REGS | GBP | 10,000 | 16,329 | |||||||||
1.50%, 7/22/26, REGS | GBP | 20,000 | 27,256 | |||||||||
4.25%, 12/07/27, REGS | GBP | 60,000 | 99,861 | |||||||||
4.75%, 12/07/30, REGS | GBP | 5,000 | 9,026 | |||||||||
4.25%, 6/07/32, REGS | GBP | 13,000 | 22,877 | |||||||||
4.25%, 6/07/32, REGS | GBP | 4,000 | 7,039 | |||||||||
4.25%, 3/07/36, REGS | GBP | 40,000 | 73,124 | |||||||||
4.75%, 12/07/38, REGS | GBP | 10,000 | 19,955 | |||||||||
4.50%, 12/07/42, REGS | GBP | 5,000 | 10,084 | |||||||||
3.25%, 1/22/44, REGS | GBP | 10,000 | 17,005 | |||||||||
4.25%, 12/07/46, REGS | GBP | 57,000 | 115,309 | |||||||||
4.25%, 12/07/49, REGS | GBP | 3,000 | 6,267 | |||||||||
1.75%, 7/22/57, REGS | GBP | 45,000 | 60,088 | |||||||||
3.50%, 7/22/68, REGS | GBP | 4,000 | 8,454 | |||||||||
1.625%, 10/22/71, REGS | GBP | 4,000 | 5,183 | |||||||||
|
| |||||||||||
680,558 | ||||||||||||
|
| |||||||||||
TOTAL SOVEREIGN BONDS | 9,768,272 | |||||||||||
|
| |||||||||||
Number | ||||||||||||
CASH EQUIVALENTS — 2.0% | ||||||||||||
DWS Government Money Market Series “Institutional Shares”, 2.38% (a) | 201,127 | 201,127 | ||||||||||
|
| |||||||||||
TOTAL INVESTMENTS — 100.9% (Cost $9,976,790) | $ | 9,969,399 | ||||||||||
Other assets and liabilities, net — (0.9%) | (87,884 | ) | ||||||||||
|
| |||||||||||
NET ASSETS — 100.0% | $ | 9,881,515 | ||||||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2019 is as follows:
Value ($) at 8/31/2018 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2019 | Value ($) at 2/28/2019 | ||||||||||||||||||||||||||||||
CASH EQUIVALENTS —2.0% | ||||||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 2.38% (a) | ||||||||||||||||||||||||||||||||||||||
— | 1,730,177 | (1,529,050 | ) | — | — | 324 | — | 201,127 | 201,127 |
(a) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualizedseven-day yield at period end. |
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. |
See Notes to Financial Statements. | 17 |
DBX ETF Trust
Schedule of Investments
Xtrackers Barclays International Treasury Bond Hedged ETF(Continued)
February 28, 2019 (Unaudited)
As of February 28, 2019, 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 | 3/5/2019 | AUD | 300,715 | USD | 219,348 | $ | 6,016 | $ | — | |||||||||||||
The Bank of Nova Scotia | 3/5/2019 | AUD | 304,700 | USD | 216,319 | 160 | — | |||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | CAD | 282,320 | USD | 213,557 | — | (1,007 | ) | ||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | CAD | 278,167 | USD | 211,900 | 492 | — | |||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | CHF | 44,276 | USD | 44,745 | 361 | — | |||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | CHF | 50,870 | USD | 50,847 | — | (147 | ) | ||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | CZK | 574,000 | USD | 25,591 | 114 | — | |||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | DKK | 432,000 | USD | 66,550 | 659 | — | |||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | DKK | 338,000 | USD | 51,396 | — | (157 | ) | ||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | EUR | 1,767,100 | USD | 2,004,846 | — | (6,020 | ) | ||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | EUR | 1,711,194 | USD | 1,968,087 | 20,840 | — | |||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | GBP | 300,000 | USD | 391,314 | — | (6,697 | ) | ||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | GBP | 259,915 | USD | 342,386 | — | (2,444 | ) | ||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | HUF | 5,400,000 | USD | 19,636 | 175 | — | |||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | IDR | 1,221,000,000 | USD | 87,102 | 350 | — | |||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | IDR | 997,332,318 | USD | 70,608 | — | (253 | ) | ||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | ILS | 144,779 | USD | 39,912 | — | (46 | ) | ||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | JPY | 654,264 | USD | 6,025 | 153 | — | |||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | JPY | 131,598,700 | USD | 1,189,518 | 8,401 | — | |||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | JPY | 129,256,449 | USD | 1,190,229 | 30,134 | — | |||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | MXN | 1,576,450 | USD | 81,650 | — | (45 | ) | ||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | MXN | 1,767,489 | USD | 92,511 | 917 | — | |||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | MYR | 367,540 | USD | 90,008 | — | (365 | ) | ||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | MYR | 346,200 | USD | 84,687 | — | (439 | ) | ||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | NOK | 211,800 | USD | 25,174 | 415 | — | |||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | NZD | 29,400 | USD | 20,403 | 380 | — | |||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | NZD | 38,400 | USD | 26,187 | 33 | — | |||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | PLN | 183,200 | USD | 47,953 | — | (470 | ) | ||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | PLN | 236,300 | USD | 63,680 | 1,221 | — | |||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | RUB | 2,639,500 | USD | 40,154 | 148 | — | |||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | RUB | 2,953,810 | USD | 44,945 | 175 | — | |||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | SEK | 312,700 | USD | 33,396 | — | (474 | ) | ||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | SEK | 417,550 | USD | 46,249 | 1,022 | — | |||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | SGD | 61,300 | USD | 45,612 | 268 | — | |||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | SGD | 70,900 | USD | 52,371 | — | (74 | ) | ||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | THB | 2,954,700 | USD | 94,570 | 797 | — | |||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | THB | 2,444,007 | USD | 78,268 | 703 | — | |||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | USD | 430,723 | AUD | 605,415 | — | (1,233 | ) | ||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | USD | 425,579 | CAD | 560,487 | 394 | — | |||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | USD | 95,509 | CHF | 95,146 | — | (131 | ) | ||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | USD | 25,515 | CZK | 574,000 | — | (38 | ) | ||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | USD | 117,516 | DKK | 770,000 | — | (72 | ) | ||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | USD | 3,960,733 | EUR | 3,478,294 | — | (2,620 | ) | ||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | USD | 26,099 | GBP | 19,812 | 185 | — | |||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | USD | 718,391 | GBP | 540,103 | — | (1,835 | ) | ||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | USD | 19,467 | HUF | 5,400,000 | — | (6 | ) | ||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | USD | 157,664 | IDR | 2,218,332,318 | — | (51 | ) | ||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | USD | 39,959 | ILS | 144,779 | — | (1 | ) | ||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | USD | 2,349,168 | JPY | 261,509,413 | — | (2,084 | ) | ||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | USD | 169,134 | MXN | 3,259,139 | — | (240 | ) | ||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | USD | 4,438 | MXN | 84,800 | — | (44 | ) | ||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | USD | 175,452 | MYR | 713,740 | 47 | — | |||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | USD | 24,782 | NOK | 211,800 | — | (24 | ) | ||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | USD | 46,206 | NZD | 67,800 | — | (29 | ) | ||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | USD | 111,023 | PLN | 419,500 | — | (141 | ) | ||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | USD | 84,881 | RUB | 5,593,310 | — | (104 | ) |
See Notes to Financial Statements. | 18 |
DBX ETF Trust
Schedule of Investments
Xtrackers Barclays International Treasury Bond Hedged ETF(Continued)
February 28, 2019 (Unaudited)
Counterparty | Settlement Date | Currency To Deliver | Currency To Receive | Unrealized Appreciation | Unrealized Depreciation | |||||||||||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | USD | 79,111 | SEK | 730,250 | $ | — | $ | (13 | ) | ||||||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | USD | 97,839 | SGD | 132,200 | — | (50 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 3/5/2019 | USD | 170,980 | THB | 5,398,707 | 357 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 4/3/2019 | AUD | 605,415 | USD | 430,910 | 1,204 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 4/3/2019 | CAD | 560,487 | USD | 425,879 | — | (401 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 4/3/2019 | CHF | 95,146 | USD | 95,769 | 120 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 4/3/2019 | CZK | 620,820 | USD | 27,617 | 39 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 4/3/2019 | CZK | 574,000 | USD | 25,534 | 36 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 4/3/2019 | DKK | 770,000 | USD | 117,813 | 50 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 4/3/2019 | EUR | 3,478,294 | USD | 3,970,281 | 2,111 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 4/3/2019 | EUR | 25,120 | USD | 28,675 | 17 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 4/3/2019 | GBP | 540,103 | USD | 719,444 | 1,772 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 4/3/2019 | HUF | 7,095,780 | USD | 25,637 | 7 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 4/3/2019 | HUF | 5,400,000 | USD | 19,509 | 4 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 4/3/2019 | ILS | 144,779 | USD | 40,029 | — | (5 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 4/3/2019 | ILS | 107,985 | USD | 29,858 | — | (2 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 4/3/2019 | JPY | 2,306,670 | USD | 20,770 | 17 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 4/3/2019 | JPY | 261,509,413 | USD | 2,354,583 | 1,824 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 4/3/2019 | MXN | 3,259,139 | USD | 168,367 | 262 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 4/3/2019 | MYR | 713,740 | USD | 175,435 | 40 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 4/3/2019 | NOK | 211,800 | USD | 24,814 | 23 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 4/3/2019 | NOK | 222,140 | USD | 25,991 | — | (10 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 4/3/2019 | NZD | 67,800 | USD | 46,231 | 26 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 4/3/2019 | PLN | 419,500 | USD | 111,111 | 126 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 4/3/2019 | RUB | 5,593,310 | USD | 84,541 | 120 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 4/3/2019 | SEK | 730,250 | USD | 79,283 | — | (4 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 4/3/2019 | SGD | 132,200 | USD | 97,880 | 43 | — | |||||||||||||||||||||
The Bank of Nova Scotia | 4/3/2019 | THB | 5,398,707 | USD | 170,883 | — | (563 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 4/3/2019 | USD | 29,040 | GBP | 21,800 | — | (73 | ) | ||||||||||||||||||||
The Bank of Nova Scotia | 4/4/2019 | IDR | 2,218,332,318 | USD | 156,983 | — | (146 | ) | ||||||||||||||||||||
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Total unrealized appreciation (depreciation) | $ | 82,758 | $ | (28,558 | ) | |||||||||||||||||||||||
|
|
|
|
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.
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 |
See Notes to Financial Statements. | 19 |
DBX ETF Trust
Schedule of Investments
Xtrackers Barclays International Treasury Bond Hedged ETF(Continued)
February 28, 2019 (Unaudited)
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2019 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 (b) | $ | — | $ | 9,768,272 | $ | — | $ | 9,768,272 | ||||||||
Short-Term Investments | 201,127 | — | — | 201,127 | ||||||||||||
Derivatives (c) | ||||||||||||||||
Forward Foreign Currency Contracts | — | 82,758 | — | 82,758 | ||||||||||||
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|
|
|
|
|
| |||||||||
TOTAL | $ | 201,127 | $ | 9,851,030 | $ | — | $ | 10,052,157 | ||||||||
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| |||||||||
Liabilities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Derivatives (c) | ||||||||||||||||
Forward Foreign Currency Contracts | $ | — | $ | (28,558 | ) | $ | — | $ | (28,558 | ) | ||||||
|
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|
|
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TOTAL | $ | — | $ | (28,558 | ) | $ | — | $ | (28,558 | ) | ||||||
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(b) | See Schedule of Investments for additional detailed categorizations. |
(c) | Derivatives include unrealized appreciation (depreciation) on forward foreign currency contracts. |
See Notes to Financial Statements. | 20 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF
February 28, 2019 (Unaudited)
Principal | Value | |||||||
CORPORATE BONDS — 97.5% |
| |||||||
Basic Materials — 4.4% |
| |||||||
Chemicals — 2.3% |
| |||||||
Chemours Co. | $ | 250,000 | $ | 261,250 | ||||
5.375%, 5/15/27 | 150,000 | 146,250 | ||||||
Consolidated Energy Finance SA | 200,000 | 196,000 | ||||||
6.50%, 5/15/26, 144A | 100,000 | 95,250 | ||||||
Element Solutions, Inc., 144A | 250,000 | 254,220 | ||||||
Hexion, Inc. | 350,000 | 299,250 | ||||||
10.375%, 2/01/22, 144A (a) | 200,000 | 170,500 | ||||||
INEOS Group Holdings SA, 144A | 220,000 | 214,225 | ||||||
NOVA Chemicals Corp. | 150,000 | 149,063 | ||||||
5.25%, 6/01/27, 144A | 700,000 | 660,625 | ||||||
OCI NV, 144A | 200,000 | 207,750 | ||||||
Olin Corp. | 300,000 | 292,500 | ||||||
SPCM SA, 144A | 250,000 | 246,250 | ||||||
Starfruit Finco BV / Starfruit US Holdco LLC, 144A | 150,000 | 149,250 | ||||||
|
| |||||||
3,342,383 | ||||||||
|
| |||||||
Iron/Steel — 0.7% | ||||||||
AK Steel Corp. | 150,000 | 126,750 | ||||||
Allegheny Technologies, Inc. | 155,000 | 170,353 | ||||||
Cleveland-Cliffs, Inc. | 388,000 | 380,240 | ||||||
United States Steel Corp. | 246,000 | 243,540 | ||||||
6.25%, 3/15/26 | 200,000 | 190,000 | ||||||
|
| |||||||
1,110,883 | ||||||||
|
| |||||||
Mining — 1.4% | ||||||||
Alcoa Nederland Holding BV | 150,000 | 161,250 | ||||||
6.125%, 5/15/28, 144A | 200,000 | 205,250 | ||||||
Aleris International, Inc., 144A | 100,000 | 104,500 | ||||||
Constellium NV, 144A | 500,000 | 492,300 | ||||||
FMG Resources August 2006 Pty Ltd. | 150,000 | 150,000 | ||||||
5.125%, 5/15/24, 144A (a) | 150,000 | 149,062 | ||||||
Freeport-McMoRan, Inc. | 270,000 | 267,975 | ||||||
Hudbay Minerals, Inc., 144A | 310,000 | 323,175 |
Principal | Value | |||||||
Mining (Continued) | ||||||||
Joseph T Ryerson & Son, Inc., 144A | $ | 172,000 | $ | 180,815 | ||||
|
| |||||||
2,034,327 | ||||||||
|
| |||||||
Communications — 25.6% | ||||||||
Advertising — 0.0% |
| |||||||
Acosta, Inc., 144A | 215,000 | 38,700 | ||||||
|
| |||||||
Internet — 1.7% | ||||||||
Netflix, Inc. | 517,000 | 539,774 | ||||||
6.375%, 5/15/29, 144A | 300,000 | 319,407 | ||||||
Symantec Corp., 144A | 400,000 | 399,110 | ||||||
Zayo Group LLC / Zayo Capital, Inc. | 500,000 | 508,750 | ||||||
6.375%, 5/15/25 | 413,000 | 411,451 | ||||||
5.75%, 1/15/27, 144A | 385,000 | 374,412 | ||||||
|
| |||||||
2,552,904 | ||||||||
|
| |||||||
Media — 10.9% | ||||||||
Altice Financing SA | 600,000 | 615,000 | ||||||
7.50%, 5/15/26, 144A | 900,000 | 873,000 | ||||||
Altice Finco SA, 144A | 100,000 | 101,500 | ||||||
Altice Luxembourg SA | 820,000 | 817,950 | ||||||
7.625%, 2/15/25, 144A | 520,000 | 463,775 | ||||||
Cablevision Systems Corp. | 250,000 | 258,516 | ||||||
CBS Radio, Inc., 144A | 150,000 | 149,250 | ||||||
CCO Holdings LLC / CCO Holdings Capital Corp. | 450,000 | 461,250 | ||||||
5.125%, 5/01/27, 144A | 1,200,000 | 1,184,004 | ||||||
5.875%, 5/01/27, 144A | 50,000 | 51,484 | ||||||
5.00%, 2/01/28, 144A | 500,000 | 482,187 | ||||||
Cengage Learning, Inc., 144A | 175,000 | 147,000 | ||||||
Clear Channel Worldwide Holdings, Inc., 144A | 500,000 | 525,625 | ||||||
CSC Holdings LLC | 250,000 | 250,540 | ||||||
7.75%, 7/15/25, 144A (a) | 175,000 | 187,250 | ||||||
5.50%, 4/15/27, 144A | 550,000 | 552,607 | ||||||
5.375%, 2/01/28, 144A | 200,000 | 197,000 | ||||||
7.50%, 4/01/28, 144A | 250,000 | 265,000 | ||||||
6.50%, 2/01/29, 144A | 450,000 | 471,661 | ||||||
DISH DBS Corp. | 600,000 | 615,000 | ||||||
5.875%, 7/15/22 | 784,000 | 751,660 | ||||||
5.00%, 3/15/23 | 350,000 | 312,812 | ||||||
5.875%, 11/15/24 | 550,000 | 465,272 | ||||||
7.75%, 7/01/26 | 625,000 | 542,188 |
See Notes to Financial Statements. | 21 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Media (Continued) | ||||||||
Gray Television, Inc. | $ | 30,000 | $ | 29,963 | ||||
5.875%, 7/15/26, 144A | 300,000 | 303,750 | ||||||
7.00%, 5/15/27, 144A | 250,000 | 265,000 | ||||||
Meredith Corp. | 400,000 | 415,120 | ||||||
Nexstar Broadcasting, Inc., 144A | 400,000 | 398,000 | ||||||
Sinclair Television Group, Inc., 144A | 300,000 | 282,750 | ||||||
Sirius XM Radio, Inc., 144A | 450,000 | 441,563 | ||||||
Telenet Finance Luxembourg Notes Sarl, 144A | 200,000 | 193,500 | ||||||
Univision Communications, Inc. | 350,000 | 318,500 | ||||||
5.125%, 2/15/25, 144A | 400,000 | 351,000 | ||||||
UPC Holding BV, 144A | 650,000 | 669,500 | ||||||
UPCB Finance IV Ltd., 144A | 400,000 | 410,000 | ||||||
Virgin Media Secured Finance PLC, 144A | 400,000 | 401,916 | ||||||
Ziggo Bond Co. BV | 200,000 | 194,940 | ||||||
6.00%, 1/15/27, 144A | 100,000 | 95,000 | ||||||
Ziggo BV, 144A | 550,000 | 532,125 | ||||||
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| |||||||
16,044,158 | ||||||||
|
| |||||||
Telecommunications — 13.0% | ||||||||
Altice France SA | 250,000 | 250,938 | ||||||
7.375%, 5/01/26, 144A | 1,750,000 | 1,721,563 | ||||||
8.125%, 2/01/27, 144A | 450,000 | 453,375 | ||||||
C&W Senior Financing DAC, 144A | 300,000 | 295,500 | ||||||
CenturyLink, Inc. | 540,000 | 556,875 | ||||||
Series Y, 7.50%, 4/01/24 (a) | 506,000 | 536,518 | ||||||
5.625%, 4/01/25 | 150,000 | 143,394 | ||||||
Cincinnati Bell, Inc., 144A | 200,000 | 182,000 | ||||||
CommScope Finance LLC | 200,000 | 204,090 | ||||||
6.00%, 3/01/26, 144A | 500,000 | 512,500 | ||||||
CommScope Technologies LLC | 400,000 | 379,000 | ||||||
5.00%, 3/15/27, 144A | 150,000 | 134,670 | ||||||
CommScope, Inc., 144A | 850,000 | 819,187 | ||||||
Consolidated Communications, Inc. | 160,000 | 150,000 | ||||||
DKT Finance ApS, 144A | 200,000 | 215,500 |
Principal | Value | |||||||
Telecommunications (Continued) | ||||||||
Frontier Communications Corp. | $ | 226,000 | $ | 155,375 | ||||
10.50%, 9/15/22 (a) | 600,000 | 432,000 | ||||||
7.125%, 1/15/23 | 200,000 | 119,000 | ||||||
7.625%, 4/15/24 | 250,000 | 142,500 | ||||||
6.875%, 1/15/25 (a) | 259,000 | 141,155 | ||||||
11.00%, 9/15/25 | 1,070,000 | 688,812 | ||||||
8.50%, 4/01/26, 144A | 500,000 | 466,250 | ||||||
GTH Finance BV, 144A | 200,000 | 213,389 | ||||||
GTT Communications, Inc., 144A | 150,000 | 130,125 | ||||||
Hughes Satellite Systems Corp. | 450,000 | 443,812 | ||||||
Inmarsat Finance PLC | 350,000 | 351,750 | ||||||
6.50%, 10/01/24, 144A | 100,000 | 99,750 | ||||||
Intelsat Connect Finance SA, 144A | 350,000 | 340,375 | ||||||
Intelsat Jackson Holdings SA | 400,000 | 367,000 | ||||||
8.50%, 10/15/24, 144A | 900,000 | 913,230 | ||||||
9.75%, 7/15/25, 144A | 650,000 | 677,625 | ||||||
Intelsat Luxembourg SA | 100,000 | 98,000 | ||||||
8.125%, 6/01/23 | 300,000 | 252,000 | ||||||
Level 3 Financing, Inc. | 230,000 | 231,725 | ||||||
5.25%, 3/15/26 | 447,000 | 439,178 | ||||||
Sprint Communications, Inc. | 720,000 | 842,256 | ||||||
6.00%, 11/15/22 | 215,000 | 218,655 | ||||||
Sprint Corp. | 1,200,000 | 1,287,312 | ||||||
7.125%, 6/15/24 | 1,350,000 | 1,393,875 | ||||||
7.625%, 2/15/25 | 100,000 | 105,000 | ||||||
7.625%, 3/01/26 | 400,000 | 416,000 | ||||||
Telecom Italia SpA, 144A | 500,000 | 490,625 | ||||||
VEON Holdings BV, 144A | 300,000 | 294,750 | ||||||
Wind Tre SpA, 144A | 700,000 | 607,110 | ||||||
WTT Investment Ltd., 144A | 200,000 | 198,548 | ||||||
|
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19,112,292 | ||||||||
|
| |||||||
Consumer, Cyclical — 11.9% |
| |||||||
Airlines — 0.1% |
| |||||||
Virgin Australia Holdings Ltd., 144A | 120,000 | 122,820 | ||||||
|
| |||||||
Apparel — 0.2% | ||||||||
Hanesbrands, Inc., 144A | 350,000 | 346,500 | ||||||
|
|
See Notes to Financial Statements. | 22 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Auto Manufacturers — 0.8% | ||||||||
Jaguar Land Rover Automotive PLC | $ | 250,000 | $ | 242,187 | ||||
4.50%, 10/01/27, 144A (a) | 125,000 | 97,800 | ||||||
Navistar International Corp., 144A | 400,000 | 414,412 | ||||||
Tesla, Inc., 144A | 500,000 | 446,875 | ||||||
|
| |||||||
1,201,274 | ||||||||
|
| |||||||
Auto Parts & Equipment — 1.1% | ||||||||
Adient Global Holdings Ltd., 144A | 270,000 | 207,900 | ||||||
American Axle & Manufacturing, Inc. | 164,000 | 168,305 | ||||||
6.25%, 4/01/25 (a) | 150,000 | 150,202 | ||||||
6.25%, 3/15/26 | 198,000 | 194,495 | ||||||
6.50%, 4/01/27 (a) | 170,000 | 168,513 | ||||||
Dana, Inc. | 225,000 | 224,156 | ||||||
Goodyear Tire & Rubber Co. | 50,000 | 47,563 | ||||||
4.875%, 3/15/27 | 450,000 | 415,688 | ||||||
Tenneco, Inc. | 100,000 | 86,000 | ||||||
|
| |||||||
1,662,822 | ||||||||
|
| |||||||
Distribution/Wholesale — 0.4% | ||||||||
American Builders & Contractors Supply Co., Inc., 144A | 200,000 | 204,000 | ||||||
Core & Main LP, 144A | 150,000 | 145,125 | ||||||
KAR Auction Services, Inc., 144A | 300,000 | 293,250 | ||||||
|
| |||||||
642,375 | ||||||||
|
| |||||||
Entertainment — 2.5% | ||||||||
AMC Entertainment Holdings, Inc. | 200,000 | 185,250 | ||||||
5.875%, 11/15/26 | 180,000 | 162,468 | ||||||
6.125%, 5/15/27 | 137,000 | 123,471 | ||||||
Caesars Resort Collection LLC / CRC Finco, Inc., 144A | 500,000 | 475,625 | ||||||
Cirsa Finance International Sarl, 144A | 200,000 | 205,500 | ||||||
Eldorado Resorts, Inc. | 324,000 | 331,322 | ||||||
6.00%, 9/15/26, 144A | 100,000 | 102,250 | ||||||
International Game Technology PLC | 450,000 | 480,938 | ||||||
6.25%, 1/15/27, 144A | 200,000 | 208,625 | ||||||
Mohegan Gaming & Entertainment, 144A | 150,000 | 147,750 | ||||||
Scientific Games International, Inc. | 700,000 | 738,500 | ||||||
5.00%, 10/15/25, 144A | 350,000 | 339,938 |
Principal | Value | |||||||
Entertainment (Continued) | ||||||||
Six Flags Entertainment Corp., 144A | $ | 200,000 | $ | 197,000 | ||||
|
| |||||||
3,698,637 | ||||||||
|
| |||||||
Home Builders — 0.9% | ||||||||
Beazer Homes USA, Inc. | 200,000 | 208,250 | ||||||
5.875%, 10/15/27 | 107,000 | 93,892 | ||||||
CalAtlantic Group, Inc. | 75,000 | 75,187 | ||||||
K Hovnanian Enterprises, Inc., 144A | 250,000 | 176,250 | ||||||
Mattamy Group Corp., 144A | 150,000 | 144,891 | ||||||
PulteGroup, Inc. | 100,000 | 101,125 | ||||||
5.00%, 1/15/27 | 70,000 | 67,288 | ||||||
Toll Brothers Finance Corp. | 200,000 | 197,000 | ||||||
4.35%, 2/15/28 | 138,000 | 130,238 | ||||||
William Lyon Homes, Inc. | 150,000 | 140,250 | ||||||
|
| |||||||
1,334,371 | ||||||||
|
| |||||||
Home Furnishings — 0.3% | ||||||||
Tempur Sealy International, Inc. | 350,000 | 350,437 | ||||||
|
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Leisure Time — 0.3% | ||||||||
24 Hour Fitness Worldwide, Inc., 144A 8.00%, 6/01/22 (a) | 100,000 | 98,500 | ||||||
Viking Cruises Ltd., 144A | 270,000 | 260,887 | ||||||
|
| |||||||
359,387 | ||||||||
|
| |||||||
Lodging — 1.6% | ||||||||
Boyd Gaming Corp. | 225,000 | 235,406 | ||||||
6.00%, 8/15/26 | 200,000 | 205,875 | ||||||
Diamond Resorts International, Inc. | 20,000 | 20,150 | ||||||
10.75%, 9/01/24, 144A | 250,000 | 238,750 | ||||||
Melco Resorts Finance Ltd., 144A | 250,000 | 241,404 | ||||||
MGM Resorts International | 100,000 | 102,250 | ||||||
4.625%, 9/01/26 | 350,000 | 334,250 | ||||||
Station Casinos LLC, 144A | 150,000 | 146,062 | ||||||
Wyndham Destinations, Inc. | 150,000 | 149,438 | ||||||
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp. | 300,000 | 299,715 | ||||||
5.25%, 5/15/27, 144A | 450,000 | 431,016 | ||||||
|
| |||||||
2,404,316 | ||||||||
|
|
See Notes to Financial Statements. | 23 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Retail — 3.3% | ||||||||
1011778 BC ULC / New Red Finance, Inc., 144A | $ | 850,000 | $ | 825,031 | ||||
Asbury Automotive Group, Inc. | 200,000 | 204,000 | ||||||
Beacon Roofing Supply, Inc., 144A | 430,000 | 401,916 | ||||||
Ferrellgas LP / Ferrellgas Finance Corp. | 350,000 | 315,000 | ||||||
6.75%, 6/15/23 (a) | 100,000 | 90,000 | ||||||
Golden Nugget, Inc. | 320,000 | 322,400 | ||||||
8.75%, 10/01/25, 144A | 280,000 | 289,100 | ||||||
IRB Holding Corp., 144A | 150,000 | 142,125 | ||||||
JC Penney Corp., Inc. | 150,000 | 129,000 | ||||||
8.625%, 3/15/25, 144A | 120,000 | 72,000 | ||||||
L Brands, Inc. | 150,000 | 129,937 | ||||||
Neiman Marcus Group Ltd. LLC, 144A | 330,000 | 173,250 | ||||||
Penske Automotive Group, Inc. | 100,000 | 98,495 | ||||||
PetSmart, Inc. | 800,000 | 546,000 | ||||||
5.875%, 6/01/25, 144A | 275,000 | 220,000 | ||||||
8.875%, 6/01/25, 144A (a) | 75,000 | 51,000 | ||||||
Rite Aid Corp., 144A | 518,000 | 443,538 | ||||||
Staples, Inc., 144A | 300,000 | 295,500 | ||||||
Suburban Propane Partners LP/Suburban Energy Finance Corp. | 150,000 | 148,875 | ||||||
|
| |||||||
4,897,167 | ||||||||
|
| |||||||
Storage / Warehousing — 0.1% | ||||||||
Algeco Global Finance PLC, 144A | 150,000 | 150,375 | ||||||
|
| |||||||
Toys/Games/Hobbies — 0.3% | ||||||||
Mattel, Inc., 144A | 400,000 | 394,500 | ||||||
|
| |||||||
Consumer,Non-cyclical — 19.4% | ||||||||
Agriculture — 0.1% |
| |||||||
Vector Group Ltd., 144A | 250,000 | 222,500 | ||||||
|
| |||||||
Commercial Services — 4.8% | ||||||||
Ahern Rentals, Inc., 144A | 130,000 | 120,575 | ||||||
APX Group, Inc. | 500,000 | 499,375 | ||||||
7.875%, 12/01/22 | 350,000 | 349,125 | ||||||
Avis Budget Car Rental LLC / Avis Budget Finance, Inc. | 200,000 | 203,000 |
Principal | Value | |||||||
Commercial Services (Continued) | ||||||||
Hertz Corp. | $ | 300,000 | $ | 300,000 | ||||
7.375%, 1/15/21 (a) | 233,000 | 233,437 | ||||||
7.625%, 6/01/22, 144A | 350,000 | 358,750 | ||||||
6.25%, 10/15/22 | 80,000 | 76,200 | ||||||
5.50%, 10/15/24, 144A | 225,000 | 192,375 | ||||||
Jaguar Holding Co. II / Pharmaceutical Product Development LLC, 144A | 400,000 | 404,000 | ||||||
Laureate Education, Inc., 144A | 250,000 | 271,250 | ||||||
Monitronics International, Inc. | 160,000 | 39,200 | ||||||
Nielsen Co. Luxembourg SARL, 144A | 200,000 | 198,500 | ||||||
Nielsen Finance LLC / Nielsen Finance Co., 144A | 610,000 | 611,525 | ||||||
Prime Security Services Borrower LLC / Prime Finance, Inc., 144A | 644,000 | 680,708 | ||||||
Refinitiv US Holdings, Inc. | 300,000 | 303,375 | ||||||
8.25%, 11/15/26, 144A | 500,000 | 490,469 | ||||||
ServiceMaster Co. LLC, 144A | 200,000 | 201,500 | ||||||
Star Merger Sub, Inc. | 200,000 | 201,067 | ||||||
10.25%, 2/15/27, 144A | 200,000 | 206,250 | ||||||
Team Health Holdings, Inc., 144A | 233,000 | 186,982 | ||||||
United Rentals North America, Inc. | 350,000 | 366,188 | ||||||
4.875%, 1/15/28 | 250,000 | 239,062 | ||||||
Verscend Escrow Corp., 144A | 300,000 | 307,875 | ||||||
|
| |||||||
7,040,788 | ||||||||
|
| |||||||
Cosmetics/Personal Care — 0.4% | ||||||||
Avon Products, Inc. | 178,000 | 171,770 | ||||||
Coty, Inc., 144A | 200,000 | 193,240 | ||||||
Revlon Consumer Products Corp. | 150,000 | 130,875 | ||||||
6.25%, 8/01/24 (a) | 110,000 | 64,075 | ||||||
|
| |||||||
559,960 | ||||||||
|
| |||||||
Food — 2.6% | ||||||||
Albertsons Cos. LLC / Safeway, Inc. / New Albertsons LP / Albertson’s LLC | 295,000 | 296,475 | ||||||
5.75%, 3/15/25 | 400,000 | 382,000 | ||||||
7.50%, 3/15/26, 144A | 250,000 | 258,750 | ||||||
B&G Foods, Inc. | 300,000 | 287,625 | ||||||
JBS Investments GmbH, 144A | 300,000 | 311,028 |
See Notes to Financial Statements. | 24 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Food (Continued) | ||||||||
JBS USA LUX SA / JBS USA Finance, Inc., 144A | $ | 300,000 | $ | 311,250 | ||||
Pilgrim’s Pride Corp. | 250,000 | 250,625 | ||||||
5.875%, 9/30/27, 144A | 230,000 | 226,550 | ||||||
Post Holdings, Inc. | 250,000 | 251,562 | ||||||
5.00%, 8/15/26, 144A | 700,000 | 676,375 | ||||||
5.75%, 3/01/27, 144A | 250,000 | 247,188 | ||||||
5.625%, 1/15/28, 144A | 80,000 | 77,600 | ||||||
Sigma Holdco BV, 144A | 200,000 | 184,500 | ||||||
|
| |||||||
3,761,528 | ||||||||
|
| |||||||
Healthcare-Products — 1.8% | ||||||||
Avantor, Inc. | 330,000 | 337,631 | ||||||
9.00%, 10/01/25, 144A | 700,000 | 751,625 | ||||||
Kinetic Concepts, Inc. / KCI USA, Inc., 144A | 54,000 | 58,590 | ||||||
Mallinckrodt International Finance SA | 158,000 | 128,770 | ||||||
Mallinckrodt International Finance SA / Mallinckrodt CB LLC | 200,000 | 200,020 | ||||||
5.75%, 8/01/22, 144A (a) | 270,000 | 255,150 | ||||||
5.625%, 10/15/23, 144A | 250,000 | 219,923 | ||||||
5.50%, 4/15/25, 144A | 200,000 | 163,938 | ||||||
Ortho-Clinical Diagnostics, Inc. / Ortho-Clinical Diagnostics SA, 144A | 450,000 | 435,375 | ||||||
Sotera Health Holdings LLC, 144A | 150,000 | 151,500 | ||||||
|
| |||||||
2,702,522 | ||||||||
|
| |||||||
Healthcare-Services — 5.9% | ||||||||
Acadia Healthcare Co., Inc. | 250,000 | 249,375 | ||||||
AHP Health Partners, Inc., 144A | 200,000 | 211,000 | ||||||
CHS/Community Health Systems, Inc. | 300,000 | 294,750 | ||||||
6.875%, 2/01/22 (a) | 762,000 | 502,920 | ||||||
6.25%, 3/31/23 | 1,036,000 | 1,001,035 | ||||||
11.00%, 6/30/23, 144A (a) | 950,000 | 876,375 | ||||||
8.625%, 1/15/24, 144A (a) | 200,000 | 206,500 | ||||||
8.125%, 6/30/24, 144A (a) | 96,000 | 81,120 | ||||||
DaVita, Inc. | 550,000 | 545,875 | ||||||
5.00%, 5/01/25 | 475,000 | 460,156 | ||||||
Envision Healthcare Corp., 144A | 300,000 | 271,500 | ||||||
MEDNAX, Inc., 144A | 150,000 | 151,207 | ||||||
MPH Acquisition Holdings LLC, 144A | 450,000 | 453,091 |
Principal | Value | |||||||
Healthcare-Services (Continued) | ||||||||
Quorum Health Corp. | $ | 83,000 | $ | 76,567 | ||||
RegionalCare Hospital Partners Holdings Inc / LifePoint Health Inc, 144A | 500,000 | 513,750 | ||||||
RegionalCare Hospital Partners Holdings, Inc., 144A | 51,000 | 54,634 | ||||||
Surgery Center Holdings, Inc., 144A | 250,000 | 255,625 | ||||||
Tenet Healthcare Corp. | 850,000 | 910,563 | ||||||
6.75%, 6/15/23 | 400,000 | 411,500 | ||||||
5.125%, 5/01/25 | 250,000 | 248,438 | ||||||
7.00%, 8/01/25 (a) | 475,000 | 477,969 | ||||||
6.25%, 2/01/27, 144A | 400,000 | 412,250 | ||||||
|
| |||||||
8,666,200 | ||||||||
|
| |||||||
Household Products/Wares — 0.1% | ||||||||
Prestige Brands, Inc., 144A | 150,000 | 151,500 | ||||||
|
| |||||||
Pharmaceuticals — 3.7% | ||||||||
Bausch Health Americas, Inc., 144A | 300,000 | 324,000 | ||||||
Bausch Health Cos., Inc. | 300,000 | 299,625 | ||||||
5.875%, 5/15/23, 144A | 900,000 | 898,875 | ||||||
6.125%, 4/15/25, 144A | 1,015,000 | 979,475 | ||||||
5.50%, 11/01/25, 144A | 400,000 | 405,000 | ||||||
9.00%, 12/15/25, 144A | 1,005,000 | 1,080,375 | ||||||
Endo Dac / Endo Finance LLC / Endo Finco, Inc. | 500,000 | 416,875 | ||||||
6.00%, 2/01/25, 144A | 320,000 | 248,000 | ||||||
Endo Finance LLC, 144A | 300,000 | 282,000 | ||||||
Endo Finance LLC / Endo Finco, Inc., 144A | 150,000 | 124,406 | ||||||
Horizon Pharma USA, Inc. | 200,000 | 207,000 | ||||||
Vizient, Inc., 144A | 150,000 | 162,563 | ||||||
|
| |||||||
5,428,194 | ||||||||
|
| |||||||
Diversified — 0.1% | ||||||||
Holding Companies-Diversified — 0.1% |
| |||||||
Stena AB, 144A | 150,000 | 141,000 | ||||||
|
| |||||||
Energy — 11.3% | ||||||||
Coal — 0.1% |
| |||||||
Peabody Energy Corp., 144A | 170,000 | 167,790 | ||||||
|
| |||||||
Energy-Alternate Sources — 0.1% | ||||||||
TerraForm Power Operating LLC, 144A | 200,000 | 190,750 | ||||||
|
|
See Notes to Financial Statements. | 25 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Oil & Gas — 9.7% | ||||||||
Ascent Resources Utica Holdings LLC / ARU Finance Corp. | $ | 326,000 | $ | 352,895 | ||||
7.00%, 11/01/26, 144A | 200,000 | 194,000 | ||||||
Baytex Energy Corp., 144A | 150,000 | 148,500 | ||||||
Brazos Valley Longhorn LLC / Brazos Valley Longhorn Finance Corp. | 150,000 | 152,813 | ||||||
Bruin E&P Partners LLC, 144A | 150,000 | 147,375 | ||||||
California Resources Corp., 144A | 650,000 | 520,812 | ||||||
Calumet Specialty Products Partners LP / Calumet Finance Corp. | 510,000 | 474,300 | ||||||
Carrizo Oil & Gas, Inc. | 225,000 | 223,031 | ||||||
Chesapeake Energy Corp. | 100,000 | 102,750 | ||||||
7.00%, 10/01/24 (a) | 200,000 | 198,500 | ||||||
8.00%, 1/15/25 (a) | 284,000 | 290,035 | ||||||
7.50%, 10/01/26 (a) | 100,000 | 99,000 | ||||||
8.00%, 6/15/27 (a) | 600,000 | 597,000 | ||||||
CITGO Petroleum Corp., 144A | 108,000 | 108,000 | ||||||
CrownRock LP / CrownRock Finance, Inc., 144A | 345,000 | 335,512 | ||||||
Denbury Resources, Inc. | 155,000 | 157,131 | ||||||
9.25%, 3/31/22, 144A | 100,000 | 100,750 | ||||||
7.50%, 2/15/24, 144A | 200,000 | 179,500 | ||||||
Diamond Offshore Drilling, Inc. | 150,000 | 142,500 | ||||||
Ensco PLC | 346,000 | 269,430 | ||||||
5.20%, 3/15/25 (a) | 375,000 | 289,687 | ||||||
7.75%, 2/01/26 | 50,000 | 42,125 | ||||||
EP Energy LLC / Everest Acquisition Finance, Inc. | 550,000 | 261,250 | ||||||
8.00%, 11/29/24, 144A (a) | 200,000 | 142,000 | ||||||
8.00%, 2/15/25, 144A | 55,000 | 24,475 | ||||||
7.75%, 5/15/26, 144A | 250,000 | 222,500 | ||||||
Extraction Oil & Gas, Inc. | 100,000 | 90,000 | ||||||
5.625%, 2/01/26, 144A | 300,000 | 250,500 | ||||||
Gulfport Energy Corp. | 575,000 | 524,687 | ||||||
Hilcorp Energy I LP / Hilcorp Finance Co. | 200,000 | 199,750 | ||||||
6.25%, 11/01/28, 144A | 150,000 | 147,750 | ||||||
Jones Energy Holdings LLC / Jones Energy Finance Corp. | 100,000 | 6,000 | ||||||
9.25%, 3/15/23, 144A (a) | 150,000 | 94,500 |
Principal | Value | |||||||
Oil & Gas (Continued) | ||||||||
MEG Energy Corp. | $ | 250,000 | $ | 229,063 | ||||
7.00%, 3/31/24, 144A | 290,000 | 266,800 | ||||||
6.50%, 1/15/25, 144A | 280,000 | 276,150 | ||||||
Nabors Industries, Inc. | 200,000 | 196,750 | ||||||
5.50%, 1/15/23 (a) | 100,000 | 94,250 | ||||||
5.75%, 2/01/25 | 300,000 | 267,000 | ||||||
Noble Holding International Ltd. | 347,000 | 310,131 | ||||||
7.95%, 4/01/25 (a) | 50,000 | 44,000 | ||||||
7.875%, 2/01/26, 144A | 225,000 | 211,219 | ||||||
Oasis Petroleum, Inc. | 237,000 | 237,296 | ||||||
6.25%, 5/01/26, 144A (a) | 150,000 | 143,250 | ||||||
Parkland Fuel Corp., 144A | 100,000 | 98,750 | ||||||
PBF Holding Co LLC / PBF Finance Corp. | 145,000 | 149,423 | ||||||
PBF Holding Co. LLC / PBF Finance Corp. | 50,000 | 51,375 | ||||||
PDC Energy, Inc. | 120,000 | 119,100 | ||||||
5.75%, 5/15/26 | 175,000 | 168,438 | ||||||
Precision Drilling Corp., 144A | 200,000 | 197,500 | ||||||
Puma International Financing SA | 200,000 | 178,052 | ||||||
5.00%, 1/24/26, 144A | 325,000 | 279,509 | ||||||
QEP Resources, Inc. | 150,000 | 141,375 | ||||||
Range Resources Corp. | 200,000 | 184,188 | ||||||
Rowan Cos., Inc. | 400,000 | 374,250 | ||||||
Sable Permian Resources Land LLC / AEPB Finance Corp. | 350,000 | 143,500 | ||||||
7.375%, 11/01/21, 144A (a) | 50,000 | 20,500 | ||||||
Sanchez Energy Corp. | 300,000 | 49,500 | ||||||
6.125%, 1/15/23 | 184,000 | 28,060 | ||||||
7.25%, 2/15/23, 144A (a) | 200,000 | 173,500 | ||||||
SM Energy Co. | 100,000 | 94,625 | ||||||
5.625%, 6/01/25 | 275,000 | 258,500 | ||||||
6.75%, 9/15/26 (a) | 100,000 | 96,250 | ||||||
6.625%, 1/15/27 (a) | 100,000 | 95,750 | ||||||
Southwestern Energy Co. | 307,000 | 305,373 | ||||||
7.50%, 4/01/26 | 200,000 | 208,500 | ||||||
7.75%, 10/01/27 (a) | 150,000 | 156,054 | ||||||
Transocean, Inc. | 70,000 | 68,600 | ||||||
9.00%, 7/15/23, 144A | 300,000 | 317,625 | ||||||
7.50%, 1/15/26, 144A | 550,000 | 533,500 |
See Notes to Financial Statements. | 26 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Oil & Gas (Continued) | ||||||||
Whiting Petroleum Corp. | $ | 150,000 | $ | 151,500 | ||||
6.625%, 1/15/26 (a) | 300,000 | 295,500 | ||||||
|
| |||||||
14,303,764 | ||||||||
|
| |||||||
Oil & Gas Services — 1.1% | ||||||||
Bristow Group, Inc. | 150,000 | 46,500 | ||||||
KCA Deutag UK Finance PLC, 144A | 200,000 | 160,500 | ||||||
McDermott Technology Americas, Inc. / McDermott Technology US, Inc., 144A | 400,000 | 333,500 | ||||||
SESI LLC | 320,000 | 297,600 | ||||||
7.75%, 9/15/24 | 107,000 | 91,485 | ||||||
Weatherford International Ltd. | 274,000 | 246,600 | ||||||
4.50%, 4/15/22 | 200,000 | 138,500 | ||||||
8.25%, 6/15/23 | 300,000 | 215,250 | ||||||
9.875%, 2/15/24 (a) | 150,000 | 108,750 | ||||||
|
| |||||||
1,638,685 | ||||||||
|
| |||||||
Pipelines — 0.3% | ||||||||
Genesis Energy LP / Genesis Energy Finance Corp. | 200,000 | 192,500 | ||||||
6.25%, 5/15/26 | 170,000 | 158,100 | ||||||
|
| |||||||
350,600 | ||||||||
|
| |||||||
Financial — 9.4% | ||||||||
Banks — 0.9% |
| |||||||
Freedom Mortgage Corp. | 250,000 | 235,625 | ||||||
8.25%, 4/15/25, 144A | 100,000 | 94,500 | ||||||
Intesa Sanpaolo SpA | 450,000 | 417,326 | ||||||
5.71%, 1/15/26, 144A | 570,000 | 534,091 | ||||||
|
| |||||||
1,281,542 | ||||||||
|
| |||||||
Diversified Financial Services — 5.0% | ||||||||
Blackstone CQP Holdco LP, 144A | 500,000 | 500,625 | ||||||
Jefferies Finance LLC / JFINCo-Issuer Corp. | 150,000 | 150,675 | ||||||
6.875%, 4/15/22, 144A | 500,000 | 501,250 | ||||||
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., 144A | 150,000 | 141,375 | ||||||
Lincoln Finance Ltd., 144A | 100,000 | 102,125 | ||||||
Lions Gate Capital Holdings LLC | 100,000 | 102,750 | ||||||
5.875%, 11/01/24, 144A | 200,000 | 203,500 | ||||||
LPL Holdings, Inc., 144A | 300,000 | 304,125 |
Principal | Value | |||||||
Diversified Financial Services (Continued) | ||||||||
Nationstar Mortgage Holdings, Inc. | $ | 250,000 | $ | 255,000 | ||||
9.125%, 7/15/26, 144A | 300,000 | 307,500 | ||||||
Nationstar Mortgage LLC / Nationstar Capital Corp. | 150,000 | 150,562 | ||||||
Navient Corp. | 200,000 | 204,500 | ||||||
Series MTN, 7.25%, 1/25/22 | 70,000 | 73,675 | ||||||
6.50%, 6/15/22 | 250,000 | 257,500 | ||||||
5.50%, 1/25/23 | 650,000 | 644,312 | ||||||
7.25%, 9/25/23 | 500,000 | 517,500 | ||||||
Series MTN, 6.125%, 3/25/24 | 100,000 | 98,000 | ||||||
5.875%, 10/25/24 | 100,000 | 96,375 | ||||||
6.75%, 6/15/26 | 200,000 | 192,500 | ||||||
NFP Corp., 144A | 225,000 | 216,000 | ||||||
Quicken Loans, Inc. | 445,000 | 441,440 | ||||||
5.25%, 1/15/28, 144A | 230,000 | 210,450 | ||||||
Springleaf Finance Corp. | 250,000 | 260,625 | ||||||
5.625%, 3/15/23 | 281,000 | 286,269 | ||||||
6.125%, 3/15/24 | 250,000 | 253,438 | ||||||
6.875%, 3/15/25 | 600,000 | 615,750 | ||||||
7.125%, 3/15/26 | 327,000 | 331,701 | ||||||
|
| |||||||
7,419,522 | ||||||||
|
| |||||||
Insurance — 1.0% | ||||||||
Acrisure LLC / Acrisure Finance, Inc. | 250,000 | 256,406 | ||||||
7.00%, 11/15/25, 144A | 250,000 | 222,020 | ||||||
Alliant Holdings Intermediate LLC / Alliant HoldingsCo-Issuer, 144A | 200,000 | 207,625 | ||||||
Ardonagh Midco 3 PLC, 144A | 130,000 | 115,050 | ||||||
AssuredPartners, Inc., 144A | 150,000 | 143,250 | ||||||
Genworth Holdings, Inc. | 200,000 | 196,050 | ||||||
HUB International Ltd., 144A | 400,000 | 393,000 | ||||||
|
| |||||||
1,533,401 | ||||||||
|
| |||||||
Real Estate — 0.8% | ||||||||
Howard Hughes Corp., 144A | 315,000 | 312,637 | ||||||
Kennedy-Wilson, Inc. | 309,000 | 303,593 | ||||||
Realogy Group LLC / Realogy Co.-Issuer Corp., 144A | 200,000 | 182,000 | ||||||
Washington Prime Group LP | 150,000 | 136,973 | ||||||
WeWork Cos., Inc., 144A | 200,000 | 186,670 | ||||||
|
| |||||||
1,121,873 | ||||||||
|
|
See Notes to Financial Statements. | 27 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Real Estate Investment Trusts — 1.5% | ||||||||
CBL & Associates LP | $ | 100,000 | $ | 82,000 | ||||
5.95%, 12/15/26 (a) | 200,000 | 153,500 | ||||||
ESH Hospitality, Inc., 144A | 410,000 | 408,975 | ||||||
Iron Mountain, Inc. | 230,000 | 231,078 | ||||||
4.875%, 9/15/27, 144A | 420,000 | 399,525 | ||||||
5.25%, 3/15/28, 144A | 200,000 | 192,500 | ||||||
iStar, Inc. | 133,000 | 130,673 | ||||||
Starwood Property Trust, Inc. | 150,000 | 146,295 | ||||||
Uniti Group LP / Uniti Fiber Holdings, Inc. / CSL Capital LLC, 144A | 30,000 | 25,050 | ||||||
Uniti Group LP / Uniti Group Finance, Inc. / CSL Capital LLC | 100,000 | �� | 93,250 | |||||
8.25%, 10/15/23 | 494,000 | 431,015 | ||||||
|
| |||||||
2,293,861 | ||||||||
|
| |||||||
Venture Capital — 0.2% | ||||||||
Icahn Enterprises LP / Icahn Enterprises Finance Corp. | 250,000 | 262,813 | ||||||
|
| |||||||
Industrial — 7.8% | ||||||||
Aerospace/Defense — 2.0% |
| |||||||
Bombardier, Inc. | 200,000 | 220,750 | ||||||
6.00%, 10/15/22, 144A | 150,000 | 151,500 | ||||||
6.125%, 1/15/23, 144A | 800,000 | 808,000 | ||||||
7.50%, 12/01/24, 144A | 560,000 | 571,200 | ||||||
7.50%, 3/15/25, 144A (a) | 300,000 | 303,750 | ||||||
TransDigm, Inc. | 100,000 | 101,250 | ||||||
6.50%, 5/15/25 | 250,000 | 250,000 | ||||||
6.375%, 6/15/26 | 431,000 | 420,225 | ||||||
Triumph Group, Inc. | 150,000 | 142,875 | ||||||
|
| |||||||
2,969,550 | ||||||||
|
| |||||||
Building Materials — 1.6% | ||||||||
Builders FirstSource, Inc., 144A | 200,000 | 196,000 | ||||||
Griffon Corp. | 305,000 | 302,331 | ||||||
JELD-WEN, Inc. | 126,000 | 118,912 | ||||||
4.875%, 12/15/27, 144A | 135,000 | 125,381 | ||||||
NCI Building Systems, Inc., 144A | 209,000 | 198,028 | ||||||
Standard Industries, Inc. | 385,000 | 392,219 | ||||||
6.00%, 10/15/25, 144A | 425,000 | 445,719 | ||||||
5.00%, 2/15/27, 144A | 140,000 | 133,700 |
Principal | Value | |||||||
Building Materials (Continued) | ||||||||
Standard Industries, Inc./NJ, 144A | $ | 210,000 | $ | 196,875 | ||||
Summit Materials LLC / Summit Materials Finance Corp. | 176,000 | 181,280 | ||||||
|
| |||||||
2,290,445 | ||||||||
|
| |||||||
Electrical Components & Equipment — 0.3% | ||||||||
Energizer Holdings, Inc. | 200,000 | 196,000 | ||||||
7.75%, 1/15/27, 144A | 300,000 | 320,250 | ||||||
|
| |||||||
516,250 | ||||||||
|
| |||||||
Electronics — 0.2% | ||||||||
Sensata Technologies BV, 144A | 220,000 | 223,300 | ||||||
|
| |||||||
Engineering & Construction — 0.4% | ||||||||
AECOM | 300,000 | 286,125 | ||||||
Brand Industrial Services, Inc., 144A | 341,000 | 309,457 | ||||||
|
| |||||||
595,582 | ||||||||
|
| |||||||
Environmental Control — 0.3% | ||||||||
Covanta Holding Corp. | 150,000 | 153,562 | ||||||
5.875%, 7/01/25 | 150,000 | 150,188 | ||||||
GFL Environmental, Inc., 144A | 150,000 | 142,031 | ||||||
|
| |||||||
445,781 | ||||||||
|
| |||||||
Machinery-Construction & Mining — 0.2% | ||||||||
Vertiv Group Corp., 144A | 250,000 | 251,250 | ||||||
|
| |||||||
Machinery-Diversified — 0.1% | ||||||||
Cloud Crane LLC, 144A | 162,000 | 172,935 | ||||||
|
| |||||||
Metal Fabricate/Hardware — 0.5% | ||||||||
Novelis Corp. | 200,000 | 202,000 | ||||||
5.875%, 9/30/26, 144A | 570,000 | 557,175 | ||||||
|
| |||||||
759,175 | ||||||||
|
| |||||||
Packaging & Containers — 1.8% | ||||||||
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc. | 350,000 | 364,770 | ||||||
6.00%, 2/15/25, 144A | 650,000 | 643,500 | ||||||
BWAY Holding Co. | 530,000 | 523,216 | ||||||
7.25%, 4/15/25, 144A | 350,000 | 333,375 | ||||||
Flex Acquisition Co., Inc. | 190,000 | 180,500 | ||||||
7.875%, 7/15/26, 144A | 150,000 | 144,000 | ||||||
Multi-Color Corp., 144A | 200,000 | 203,250 |
See Notes to Financial Statements. | 28 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Packaging & Containers (Continued) | ||||||||
Reynolds Group Issuer, Inc. / Reynolds Group Issuer LLC / Reynolds Group Issuer Luxembourg, 144A | $ | 250,000 | $ | 256,094 | ||||
|
| |||||||
2,648,705 | ||||||||
|
| |||||||
Transportation — 0.3% | ||||||||
Hornbeck Offshore Services, Inc. | 100,000 | 55,000 | ||||||
Kenan Advantage Group, Inc., 144A | 150,000 | 146,719 | ||||||
XPO Logistics, Inc., 144A | 250,000 | 252,218 | ||||||
|
| |||||||
453,937 | ||||||||
|
| |||||||
Trucking & Leasing — 0.1% | ||||||||
Fortress Transportation & Infrastructure Investors LLC, 144A | 150,000 | 153,300 | ||||||
|
| |||||||
Technology — 5.3% | ||||||||
Computers — 2.1% |
| |||||||
Banff Merger Sub, Inc., 144A | 450,000 | 437,062 | ||||||
Dell International LLC / EMC Corp., 144A | 623,000 | 661,139 | ||||||
Exela Intermediate LLC / Exela Finance, Inc., 144A | 270,000 | 276,413 | ||||||
Harland Clarke Holdings Corp. | 250,000 | 248,750 | ||||||
8.375%, 8/15/22, 144A | 200,000 | 187,750 | ||||||
NCR Corp. | 300,000 | 301,467 | ||||||
6.375%, 12/15/23 | 75,000 | 76,273 | ||||||
Sungard Availability Services Capital, Inc., 144A | 125,000 | 12,500 | ||||||
West Corp., 144A | 350,000 | 291,375 | ||||||
Western Digital Corp. | 700,000 | 663,250 | ||||||
|
| |||||||
3,155,979 | ||||||||
|
| |||||||
Office/Business Equipment — 0.6% | ||||||||
Pitney Bowes, Inc. | 266,000 | 254,695 | ||||||
4.625%, 3/15/24 | 200,000 | 184,000 | ||||||
Xerox Corp. | 400,000 | 393,000 | ||||||
|
| |||||||
831,695 | ||||||||
|
| |||||||
Semiconductors — 0.1% | ||||||||
Qorvo, Inc., 144A | 200,000 | 204,000 | ||||||
|
| |||||||
Software — 2.5% | ||||||||
CDK Global, Inc. | 100,000 | 103,250 | ||||||
4.875%, 6/01/27 | 200,000 | 197,542 |
Principal | Value | |||||||
Software (Continued) | ||||||||
Change Healthcare Holdings LLC / Change Healthcare Finance, Inc., 144A | $ | 370,000 | $ | 362,489 | ||||
Infor US, Inc. | 600,000 | 614,112 | ||||||
Informatica LLC, 144A | 150,000 | 152,643 | ||||||
Nuance Communications, Inc. | 200,000 | 204,500 | ||||||
Open Text Corp., 144A | 230,000 | 242,554 | ||||||
Rackspace Hosting, Inc., 144A | 390,000 | 342,225 | ||||||
Riverbed Technology, Inc., 144A | 150,000 | 104,625 | ||||||
Solera LLC / Solera Finance, Inc., 144A | 500,000 | 544,375 | ||||||
TIBCO Software, Inc., 144A | 400,000 | 425,250 | ||||||
Veritas US, Inc. / Veritas Bermuda Ltd., 144A | 400,000 | 339,616 | ||||||
|
| |||||||
3,633,181 | ||||||||
|
| |||||||
Utilities — 2.3% | ||||||||
Electric — 1.6% |
| |||||||
Calpine Corp. | 300,000 | 297,750 | ||||||
5.50%, 2/01/24 | 100,000 | 96,625 | ||||||
5.75%, 1/15/25 | 550,000 | 528,000 | ||||||
5.25%, 6/01/26, 144A | 360,000 | 354,150 | ||||||
Clearway Energy Operating LLC | 170,000 | 167,450 | ||||||
5.75%, 10/15/25, 144A | 225,000 | 221,906 | ||||||
InterGen NV, 144A | 200,000 | 181,000 | ||||||
Talen Energy Supply LLC | 1,000 | 968 | ||||||
9.50%, 7/15/22, 144A | 131,000 | 140,170 | ||||||
10.50%, 1/15/26, 144A | 400,000 | 416,000 | ||||||
|
| |||||||
2,404,019 | ||||||||
|
| |||||||
Gas — 0.7% | ||||||||
AmeriGas Partners LP / AmeriGas Finance Corp. | 125,000 | 126,875 | ||||||
5.50%, 5/20/25 | 250,000 | 248,750 | ||||||
5.875%, 8/20/26 | 200,000 | 201,440 | ||||||
5.75%, 5/20/27 | 180,000 | 177,300 | ||||||
NGL Energy Partners LP / NGL Energy Finance Corp. | 200,000 | 207,250 | ||||||
|
| |||||||
961,615 | ||||||||
|
| |||||||
TOTAL CORPORATE BONDS | 143,710,120 | |||||||
|
|
See Notes to Financial Statements. | 29 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
SECURITIES LENDING COLLATERAL — 9.7% |
| |||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 2.31% (b)(c) (Cost $14,261,434) | 14,261,434 | $ | 14,261,434 | |||||
|
| |||||||
CASH EQUIVALENTS — 0.5% |
| |||||||
DWS Government Money Market Series “Institutional Shares”, 2.38% (b) (Cost $668,889) | 668,889 | 668,889 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 107.7% (Cost $162,732,390) | $ | 158,640,443 | ||||||
Other assets and liabilities, net — (7.7%) | (11,294,268 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 147,346,175 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2019 is as follows:
Value ($) at 8/31/2018 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2019 | Value ($) at 2/28/2019 | ||||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL —9.7% | ||||||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 2.31% (b)(c) | ||||||||||||||||||||||||||||||||||||||
7,697,440 | 6,563,994 | (d) | — | — | — | 87,274 | — | 14,261,434 | 14,261,434 | |||||||||||||||||||||||||||||
CASH EQUIVALENTS —0.5% | ||||||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 2.38% (b) | ||||||||||||||||||||||||||||||||||||||
— | 8,078,209 | (7,409,320 | ) | — | — | 7,589 | — | 668,889 | 668,889 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||
7,697,440 | 14,642,203 | (7,409,320 | ) | — | — | 94,863 | — | 14,930,323 | 14,930,323 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2019 amounted to $14,534,307, which is 9.9% of net assets. |
(b) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualizedseven-day yield at period end. |
(c) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund heldnon-cash U.S. Treasury securities collateral having a value of $833,741. |
(d) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2019. |
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. |
See Notes to Financial Statements. | 30 |
DBX ETF Trust
Schedule of Investments
Xtrackers High Beta High Yield Bond ETF(Continued)
February 28, 2019 (Unaudited)
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2019 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 (e) | $ | — | $ | 143,710,120 | $ | — | $ | 143,710,120 | ||||||||
Short-Term Investments (e) | 14,930,323 | — | — | 14,930,323 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 14,930,323 | $ | 143,710,120 | $ | — | $ | 158,640,443 | ||||||||
|
|
|
|
|
|
|
|
(e) | See Schedule of Investments for additional detailed categorizations. |
See Notes to Financial Statements. | 31 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF
February 28, 2019 (Unaudited)
Principal | Value | |||||||
CORPORATE BONDS — 98.4% |
| |||||||
Basic Materials — 4.6% |
| |||||||
Chemicals — 2.1% |
| |||||||
Ashland LLC | $ | 350,000 | $ | 360,937 | ||||
Blue Cube Spinco LLC | 225,000 | 252,619 | ||||||
10.00%, 10/15/25 | 175,000 | 201,250 | ||||||
CF Industries, Inc. | 175,000 | 181,781 | ||||||
3.45%, 6/01/23 | 250,000 | 242,812 | ||||||
Chemours Co. | 419,000 | 436,305 | ||||||
Huntsman International LLC | 400,000 | 410,050 | ||||||
Momentive Performance Materials, Inc. | 350,000 | 378,438 | ||||||
PolyOne Corp. | 225,000 | 231,188 | ||||||
PQ Corp., 144A | 56,000 | 58,433 | ||||||
WR Grace & Co.-Conn, 144A | 300,000 | 310,167 | ||||||
|
| |||||||
3,063,980 | ||||||||
|
| |||||||
Iron/Steel — 0.6% | ||||||||
Allegheny Technologies, Inc. | 200,000 | 206,560 | ||||||
Steel Dynamics, Inc. | 306,000 | 308,104 | ||||||
5.25%, 4/15/23 | 410,000 | 418,712 | ||||||
|
| |||||||
933,376 | ||||||||
|
| |||||||
Mining — 1.9% | ||||||||
Alcoa Nederland Holding BV, 144A | 240,000 | 254,700 | ||||||
FMG Resources August 2006 Pty Ltd., 144A 4.75%, 5/15/22 | 300,000 | 301,125 | ||||||
Freeport-McMoRan, Inc. | 300,000 | 300,840 | ||||||
4.00%, 11/14/21 | 250,000 | 250,938 | ||||||
3.55%, 3/01/22 | 650,000 | 644,312 | ||||||
6.875%, 2/15/23 | 250,000 | 265,000 | ||||||
3.875%, 3/15/23 | 655,000 | 647,127 | ||||||
|
| |||||||
2,664,042 | ||||||||
|
| |||||||
Communications — 20.2% |
| |||||||
Advertising — 0.9% |
| |||||||
Lamar Media Corp. | 456,000 | 466,260 | ||||||
5.375%, 1/15/24 | 100,000 | 103,250 | ||||||
Outfront Media Capital LLC / Outfront Media Capital Corp. | 481,000 | 490,163 | ||||||
5.625%, 2/15/24 | 260,000 | 267,150 | ||||||
|
| |||||||
1,326,823 | ||||||||
|
|
Principal | Value | |||||||
Internet — 1.9% | ||||||||
Match Group, Inc., 144A | $ | 150,000 | $ | 149,104 | ||||
Netflix, Inc. | 190,000 | 196,887 | ||||||
5.50%, 2/15/22 | 250,000 | 262,813 | ||||||
5.75%, 3/01/24 (a) | 125,000 | 133,184 | ||||||
5.875%, 2/15/25 | 250,000 | 265,625 | ||||||
4.375%, 11/15/26 (a) | 350,000 | 336,658 | ||||||
4.875%, 4/15/28 | 562,000 | 548,653 | ||||||
Symantec Corp. | 300,000 | 303,488 | ||||||
3.95%, 6/15/22 | 125,000 | 125,027 | ||||||
VeriSign, Inc. | 20,000 | 20,391 | ||||||
5.25%, 4/01/25 | 150,000 | 155,862 | ||||||
4.75%, 7/15/27 | 225,000 | 223,031 | ||||||
|
| |||||||
2,720,723 | ||||||||
|
| |||||||
Media — 9.9% | ||||||||
AMC Networks, Inc. | 200,000 | 203,250 | ||||||
5.00%, 4/01/24 | 425,000 | 422,743 | ||||||
4.75%, 8/01/25 | 230,000 | 224,034 | ||||||
Cable One, Inc., 144A | 132,000 | 134,640 | ||||||
Cablevision Systems Corp. | 150,000 | 157,500 | ||||||
CCO Holdings LLC / CCO Holdings Capital Corp. | 200,000 | 200,875 | ||||||
5.25%, 9/30/22 | 500,000 | 510,625 | ||||||
4.00%, 3/01/23, 144A (a) | 30,000 | 29,700 | ||||||
5.125%, 5/01/23, 144A | 900,000 | 918,090 | ||||||
5.75%, 9/01/23 | 280,000 | 285,950 | ||||||
5.75%, 1/15/24 | 342,000 | 351,191 | ||||||
5.875%, 4/01/24, 144A | 550,000 | 574,062 | ||||||
5.375%, 5/01/25, 144A | 200,000 | 205,250 | ||||||
5.75%, 2/15/26, 144A | 855,000 | 882,522 | ||||||
Clear Channel Worldwide Holdings, Inc. Series A, 6.50%, 11/15/22 | 200,000 | 205,250 | ||||||
Series B, 6.50%, 11/15/22 | 700,000 | 719,250 | ||||||
CSC Holdings LLC | 393,000 | 419,528 | ||||||
5.125%, 12/15/21, 144A | 300,000 | 301,692 | ||||||
5.125%, 12/15/21, 144A | 150,000 | 150,846 | ||||||
5.375%, 7/15/23, 144A | 400,000 | 412,080 | ||||||
6.625%, 10/15/25, 144A | 290,000 | 306,675 | ||||||
10.875%, 10/15/25, 144A | 580,000 | 674,250 | ||||||
5.50%, 5/15/26, 144A | 500,000 | 506,875 | ||||||
DISH DBS Corp. | 350,000 | 353,500 | ||||||
Nexstar Broadcasting, Inc. | 98,000 | 100,450 | ||||||
Quebecor Media, Inc. | 400,000 | 416,375 | ||||||
Sinclair Television Group, Inc. | 375,000 | 376,406 |
See Notes to Financial Statements. | 32 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Media (Continued) | ||||||||
Sirius XM Radio, Inc. | $ | 525,000 | $ | 525,656 | ||||
4.625%, 5/15/23, 144A | 150,000 | 152,438 | ||||||
6.00%, 7/15/24, 144A | 450,000 | 468,000 | ||||||
5.375%, 4/15/25, 144A | 234,000 | 239,338 | ||||||
5.375%, 7/15/26, 144A | 400,000 | 402,500 | ||||||
TEGNA, Inc. | 345,000 | 357,938 | ||||||
Tribune Media Co. | 450,000 | 460,125 | ||||||
Unitymedia GmbH, 144A | 400,000 | 416,000 | ||||||
Unitymedia Hessen GmbH & Co. KG / Unitymedia NRW GmbH, 144A | 50,000 | 51,438 | ||||||
Videotron Ltd. | 271,000 | 278,114 | ||||||
5.375%, 6/15/24, 144A | 300,000 | 313,185 | ||||||
5.125%, 4/15/27, 144A | 75,000 | 76,313 | ||||||
Virgin Media Secured Finance PLC | 200,000 | 204,930 | ||||||
5.50%, 1/15/25, 144A | 200,000 | 203,750 | ||||||
|
| |||||||
14,193,334 | ||||||||
|
| |||||||
Telecommunications — 7.5% | ||||||||
CenturyLink, Inc. | 50,000 | 50,952 | ||||||
Series S, 6.45%, 6/15/21 | 500,000 | 520,600 | ||||||
CommScope, Inc., 144A | 200,000 | 201,000 | ||||||
Hughes Satellite Systems Corp. | 350,000 | 376,250 | ||||||
Intelsat Jackson Holdings SA | 175,000 | 203,437 | ||||||
8.00%, 2/15/24, 144A | 440,000 | 460,350 | ||||||
Level 3 Financing, Inc. | 216,000 | 217,415 | ||||||
5.375%, 8/15/22 | 550,000 | 554,812 | ||||||
5.625%, 2/01/23 | 100,000 | 101,000 | ||||||
5.125%, 5/01/23 | 280,000 | 282,825 | ||||||
Level 3 Parent LLC | 200,000 | 202,750 | ||||||
Nokia OYJ | 222,000 | 218,048 | ||||||
4.375%, 6/12/27 | 150,000 | 147,768 | ||||||
Qwest Corp. | 375,000 | 400,237 | ||||||
Sable International Finance Ltd., 144A | 200,000 | 208,500 | ||||||
Sprint Communications, Inc. | 411,000 | 425,385 | ||||||
7.00%, 8/15/20 | 475,000 | 496,328 | ||||||
Sprint Corp. | 800,000 | 847,000 | ||||||
Telefonaktiebolaget LM Ericsson | 325,000 | 328,734 |
Principal | Value | |||||||
Telecommunications (Continued) | ||||||||
T-Mobile USA, Inc. | $ | 400,000 | $ | 412,000 | ||||
6.50%, 1/15/24 | 350,000 | 364,000 | ||||||
6.00%, 4/15/24 | 350,000 | 364,438 | ||||||
6.375%, 3/01/25 | 660,000 | 688,463 | ||||||
5.125%, 4/15/25 | 520,000 | 535,113 | ||||||
6.50%, 1/15/26 | 575,000 | 615,969 | ||||||
4.50%, 2/01/26 | 200,000 | 197,748 | ||||||
5.375%, 4/15/27 | 325,000 | 334,750 | ||||||
4.75%, 2/01/28 | 450,000 | 438,705 | ||||||
VEON Holdings BV | 300,000 | 295,500 | ||||||
5.95%, 2/13/23, 144A | 300,000 | 310,101 | ||||||
|
| |||||||
10,800,178 | ||||||||
|
| |||||||
Consumer, Cyclical — 13.2% |
| |||||||
Airlines — 0.3% |
| |||||||
Air Canada, 144A | 150,000 | 161,250 | ||||||
American Airlines Group, Inc., 144A | 200,000 | 202,000 | ||||||
United Continental Holdings, Inc. | 120,000 | 119,850 | ||||||
|
| |||||||
483,100 | ||||||||
|
| |||||||
Apparel — 0.4% | ||||||||
Hanesbrands, Inc., 144A | 318,000 | 319,240 | ||||||
Levi Strauss & Co. | 200,000 | 205,000 | ||||||
|
| |||||||
524,240 | ||||||||
|
| |||||||
Auto Manufacturers — 1.0% | ||||||||
Allison Transmission, Inc., 144A | 350,000 | 353,500 | ||||||
Fiat Chrysler Automobiles NV | 500,000 | 505,000 | ||||||
5.25%, 4/15/23 | 500,000 | 509,250 | ||||||
|
| |||||||
1,367,750 | ||||||||
|
| |||||||
Auto Parts & Equipment — 0.2% | ||||||||
Goodyear Tire & Rubber Co. | 322,000 | 322,403 | ||||||
|
| |||||||
Distribution/Wholesale — 0.4% | ||||||||
HD Supply, Inc., 144A | 300,000 | 306,000 | ||||||
LKQ Corp. | 227,000 | 229,270 | ||||||
|
| |||||||
535,270 | ||||||||
|
| |||||||
Entertainment — 1.1% | ||||||||
Cinemark USA, Inc. | 247,000 | 251,631 | ||||||
4.875%, 6/01/23 | 200,000 | 200,250 | ||||||
International Game Technology PLC, 144A | 450,000 | 472,500 | ||||||
Live Nation Entertainment, Inc., 144A | 194,000 | 193,030 |
See Notes to Financial Statements. | 33 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Entertainment (Continued) | ||||||||
Merlin Entertainments PLC, 144A | $ | 150,000 | $ | 155,438 | ||||
Six Flags Entertainment Corp., 144A | 340,000 | 335,750 | ||||||
|
| |||||||
1,608,599 | ||||||||
|
| |||||||
Food Service — 0.8% | ||||||||
Aramark Services, Inc. | 455,000 | 466,375 | ||||||
5.00%, 4/01/25, 144A | 125,000 | 127,500 | ||||||
4.75%, 6/01/26 | 300,000 | 298,500 | ||||||
5.00%, 2/01/28, 144A | 300,000 | 297,000 | ||||||
|
| |||||||
1,189,375 | ||||||||
|
| |||||||
Home Builders — 2.2% | ||||||||
Brookfield Residential Properties, Inc., 144A | 249,000 | 249,934 | ||||||
KB Home | 200,000 | 212,250 | ||||||
Lennar Corp. | 105,000 | 107,362 | ||||||
4.125%, 1/15/22 | 300,000 | 299,625 | ||||||
4.875%, 12/15/23 | 450,000 | 458,437 | ||||||
4.50%, 4/30/24 | 185,000 | 184,075 | ||||||
5.875%, 11/15/24 | 183,000 | 192,836 | ||||||
4.75%, 5/30/25 | 70,000 | 70,547 | ||||||
4.75%, 11/29/27 | 250,000 | 243,750 | ||||||
PulteGroup, Inc. | 270,000 | 273,038 | ||||||
5.50%, 3/01/26 | 253,000 | 255,846 | ||||||
Taylor Morrison Communities, Inc. | 150,000 | 154,875 | ||||||
Taylor Morrison Communities, Inc. / Taylor Morrison Holdings II, Inc., 144A | 217,000 | 218,085 | ||||||
Toll Brothers Finance Corp. | 150,000 | 158,063 | ||||||
4.375%, 4/15/23 | 125,000 | 125,563 | ||||||
|
| |||||||
3,204,286 | ||||||||
|
| |||||||
Housewares — 0.1% | ||||||||
ScottsMiracle-Gro Co. | 150,000 | 155,250 | ||||||
|
| |||||||
Leisure Time — 0.4% | ||||||||
NCL Corp. Ltd., 144A | 204,000 | 208,013 | ||||||
Sabre GLBL, Inc. | 70,000 | 71,750 | ||||||
5.25%, 11/15/23, 144A | 280,000 | 287,000 | ||||||
|
| |||||||
566,763 | ||||||||
|
| |||||||
Lodging — 3.4% | ||||||||
Boyd Gaming Corp. | 250,000 | 262,187 | ||||||
Hilton Domestic Operating Co., Inc. | 347,000 | 343,096 | ||||||
5.125%, 5/01/26, 144A | 550,000 | 554,125 |
Principal | Value | |||||||
Lodging (Continued) | ||||||||
Hilton Worldwide Finance LLC / Hilton Worldwide Finance Corp. | $ | 280,000 | $ | 279,300 | ||||
4.875%, 4/01/27 | 300,000 | 299,625 | ||||||
Jack Ohio Finance LLC / Jack Ohio Finance 1 Corp., 144A | 250,000 | 258,125 | ||||||
MGM Resorts International | 200,000 | 204,050 | ||||||
6.75%, 10/01/20 | �� | 383,000 | 400,235 | |||||
6.625%, 12/15/21 | 650,000 | 693,875 | ||||||
7.75%, 3/15/22 | 225,000 | 247,500 | ||||||
6.00%, 3/15/23 | 365,000 | 382,794 | ||||||
Studio City Co. Ltd., 144A | 400,000 | 416,120 | ||||||
Wyndham Destinations, Inc. | 300,000 | 299,265 | ||||||
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp., 144A | 180,000 | 178,425 | ||||||
|
| |||||||
4,818,722 | ||||||||
|
| |||||||
Retail — 2.9% | ||||||||
1011778 BC ULC / New Red Finance, Inc. 4.625%, 1/15/22, 144A | 480,000 | 483,000 | ||||||
4.25%, 5/15/24, 144A | 500,000 | 488,125 | ||||||
Group 1 Automotive, Inc. | 175,000 | 176,531 | ||||||
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC | 300,000 | 303,975 | ||||||
5.25%, 6/01/26, 144A | 400,000 | 408,000 | ||||||
4.75%, 6/01/27, 144A | 294,000 | 290,325 | ||||||
L Brands, Inc. | 300,000 | 313,500 | ||||||
5.625%, 2/15/22 | 350,000 | 357,000 | ||||||
5.625%, 10/15/23 (a) | 150,000 | 149,625 | ||||||
Michaels Stores, Inc., 144A | 283,000 | 283,920 | ||||||
Penske Automotive Group, Inc. | 150,000 | 153,000 | ||||||
QVC, Inc. | 150,000 | 156,392 | ||||||
4.375%, 3/15/23 | 200,000 | 201,895 | ||||||
4.85%, 4/01/24 | 155,000 | 156,170 | ||||||
4.45%, 2/15/25 | 300,000 | 292,327 | ||||||
|
| |||||||
4,213,785 | ||||||||
|
| |||||||
Consumer,Non-cyclical — 16.6% |
| |||||||
Commercial Services — 3.5% |
| |||||||
ADT Security Corp. | 195,000 | 206,212 | ||||||
3.50%, 7/15/22 | 485,000 | 478,937 | ||||||
4.125%, 6/15/23 | 300,000 | 295,125 | ||||||
Brink’s Co., 144A | 150,000 | 143,250 | ||||||
Gartner, Inc., 144A | 326,000 | 329,260 |
See Notes to Financial Statements. | 34 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Commercial Services (Continued) | ||||||||
Herc Rentals, Inc. | $ | 197,000 | $ | 206,358 | ||||
7.75%, 6/01/24, 144A (a) | 174,000 | 186,450 | ||||||
Nielsen Co. Luxembourg SARL, 144A | 425,000 | 429,781 | ||||||
Service Corp. International | 68,000 | 68,850 | ||||||
5.375%, 5/15/24 | 325,000 | 333,125 | ||||||
4.625%, 12/15/27 | 220,000 | 218,075 | ||||||
United Rentals North America, Inc. | 450,000 | 460,350 | ||||||
5.75%, 11/15/24 | 100,000 | 103,375 | ||||||
5.50%, 7/15/25 | 268,000 | 274,700 | ||||||
4.625%, 10/15/25 | 425,000 | 414,375 | ||||||
5.875%, 9/15/26 | 200,000 | 205,250 | ||||||
4.875%, 1/15/28 | 600,000 | 573,750 | ||||||
WEX, Inc., 144A | 150,000 | 149,250 | ||||||
|
| |||||||
5,076,473 | ||||||||
|
| |||||||
Cosmetics/Personal Care — 0.6% | ||||||||
Avon Products, Inc. | 200,000 | 204,250 | ||||||
Edgewell Personal Care Co. | 310,000 | 313,047 | ||||||
First Quality Finance Co., Inc. | 216,000 | 217,080 | ||||||
5.00%, 7/01/25, 144A | 150,000 | 147,000 | ||||||
|
| |||||||
881,377 | ||||||||
|
| |||||||
Food — 1.8% | ||||||||
B&G Foods, Inc. | 200,000 | 200,437 | ||||||
Darling Ingredients, Inc. | 180,000 | 182,475 | ||||||
JBS USA LUX SA / JBS USA Finance, Inc. | 250,000 | 253,125 | ||||||
5.875%, 7/15/24, 144A | 200,000 | 206,350 | ||||||
5.75%, 6/15/25, 144A | 400,000 | 406,500 | ||||||
Lamb Weston Holdings, Inc. | 325,000 | 327,438 | ||||||
4.875%, 11/01/26, 144A | 285,000 | 286,781 | ||||||
Post Holdings, Inc., 144A | 350,000 | 352,188 | ||||||
TreeHouse Foods, Inc., 144A | 225,000 | 232,594 | ||||||
US Foods, Inc., 144A | 180,000 | 183,375 | ||||||
|
| |||||||
2,631,263 | ||||||||
|
| |||||||
Healthcare-Products — 0.9% | ||||||||
Hill-Rom Holdings, Inc., 144A | 150,000 | 155,063 | ||||||
Hologic, Inc., 144A | 500,000 | 493,750 | ||||||
Kinetic Concepts, Inc. / KCI USA, Inc., 144A | 230,000 | 235,175 |
Principal | Value | |||||||
Healthcare-Products (Continued) | ||||||||
Teleflex, Inc. | $ | 334,000 | $ | 339,845 | ||||
4.625%, 11/15/27 | 50,000 | 49,816 | ||||||
|
| |||||||
1,273,649 | ||||||||
|
| |||||||
Healthcare-Services — 7.9% | ||||||||
Catalent Pharma Solutions, Inc., 144A | 150,000 | 149,250 | ||||||
Centene Corp. | 470,000 | 477,050 | ||||||
4.75%, 5/15/22 | 225,000 | 230,062 | ||||||
6.125%, 2/15/24 | 500,000 | 524,062 | ||||||
4.75%, 1/15/25 | 395,000 | 398,950 | ||||||
5.375%, 6/01/26, 144A | 700,000 | 728,000 | ||||||
Charles River Laboratories International, Inc., 144A | 150,000 | 156,375 | ||||||
DaVita, Inc. | 400,000 | 408,272 | ||||||
Encompass Health Corp. | 376,000 | 381,283 | ||||||
HCA Healthcare, Inc. | 413,000 | 433,790 | ||||||
HCA, Inc. | 755,000 | 829,556 | ||||||
5.875%, 5/01/23 | 350,000 | 371,000 | ||||||
5.375%, 2/01/25 | 875,000 | 909,729 | ||||||
5.875%, 2/15/26 | 525,000 | 555,844 | ||||||
5.375%, 9/01/26 | 350,000 | 359,625 | ||||||
5.625%, 9/01/28 | 600,000 | 621,750 | ||||||
5.875%, 2/01/29 | 325,000 | 341,250 | ||||||
MEDNAX, Inc., 144A | 275,000 | 278,781 | ||||||
Molina Healthcare, Inc. | 200,000 | 206,938 | ||||||
Select Medical Corp. | 200,000 | 201,500 | ||||||
Tenet Healthcare Corp. | 150,000 | 152,250 | ||||||
6.00%, 10/01/20 | 150,000 | 155,625 | ||||||
4.50%, 4/01/21 | 550,000 | 559,625 | ||||||
4.375%, 10/01/21 | 490,000 | 498,575 | ||||||
4.625%, 7/15/24 | 700,000 | 700,875 | ||||||
WellCare Health Plans, Inc. | 400,000 | 409,880 | ||||||
5.375%, 8/15/26, 144A | 250,000 | 257,813 | ||||||
|
| |||||||
11,297,710 | ||||||||
|
| |||||||
Household Products/Wares — 0.5% | ||||||||
Prestige Brands, Inc., 144A | 125,000 | 125,860 | ||||||
Spectrum Brands, Inc. | 200,000 | 205,000 | ||||||
5.75%, 7/15/25 | 329,000 | 323,654 | ||||||
|
| |||||||
654,514 | ||||||||
|
|
See Notes to Financial Statements. | 35 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Pharmaceuticals — 1.4% | ||||||||
Bausch Health Cos., Inc. | $ | 460,000 | $ | 477,250 | ||||
7.00%, 3/15/24, 144A | 750,000 | 792,187 | ||||||
Elanco Animal Health, Inc. | 100,000 | 101,168 | ||||||
4.272%, 8/28/23, 144A | 350,000 | 355,557 | ||||||
4.90%, 8/28/28, 144A | 250,000 | 259,903 | ||||||
|
| |||||||
1,986,065 | ||||||||
|
| |||||||
Energy — 15.7% |
| |||||||
Coal — 0.1% |
| |||||||
Peabody Energy Corp., 144A | 175,000 | 177,188 | ||||||
|
| |||||||
Energy-Alternate Sources — 0.2% | ||||||||
TerraForm Power Operating LLC, 144A | 208,000 | 207,108 | ||||||
|
| |||||||
Oil & Gas — 7.9% | ||||||||
Aker BP ASA | 100,000 | 103,020 | ||||||
5.875%, 3/31/25, 144A | 150,000 | 154,522 | ||||||
Antero Resources Corp. | 725,000 | 730,437 | ||||||
5.625%, 6/01/23 | 40,000 | 40,250 | ||||||
5.00%, 3/01/25 (a) | 425,000 | 410,125 | ||||||
Baytex Energy Corp., 144A | 236,000 | 233,640 | ||||||
Callon Petroleum Co. | 250,000 | 253,125 | ||||||
Chesapeake Energy Corp. | 287,000 | 295,610 | ||||||
CNX Resources Corp. | 475,000 | 480,937 | ||||||
Continental Resources, Inc. | 460,000 | 465,279 | ||||||
4.50%, 4/15/23 | 600,000 | 612,052 | ||||||
3.80%, 6/01/24 | 250,000 | 247,204 | ||||||
4.375%, 1/15/28 | 410,000 | 409,074 | ||||||
Diamondback Energy, Inc. | 350,000 | 355,687 | ||||||
4.75%, 11/01/24 | 86,000 | 87,397 | ||||||
5.375%, 5/31/25 | 300,000 | 311,250 | ||||||
Endeavor Energy Resources LP / EER Finance, Inc. | 150,000 | 157,687 | ||||||
5.75%, 1/30/28, 144A | 205,000 | 219,350 | ||||||
Hilcorp Energy I LP / Hilcorp Finance Co., 144A | 150,000 | 144,937 | ||||||
Matador Resources Co. | 350,000 | 350,000 | ||||||
Murphy Oil Corp. | 200,000 | 198,516 | ||||||
4.45%, 12/01/22 | 250,000 | 249,078 | ||||||
6.875%, 8/15/24 | 150,000 | 158,813 | ||||||
5.75%, 8/15/25 | 190,000 | 193,442 | ||||||
Nabors Industries, Inc. | 300,000 | 302,625 |
Principal | Value | |||||||
Oil & Gas (Continued) | ||||||||
Parsley Energy LLC / Parsley Finance Corp. | $ | 215,000 | $ | 220,913 | ||||
5.375%, 1/15/25, 144A | 250,000 | 251,875 | ||||||
5.25%, 8/15/25, 144A | 350,000 | 348,145 | ||||||
QEP Resources, Inc. | 200,000 | 197,250 | ||||||
5.25%, 5/01/23 | 200,000 | 193,500 | ||||||
Range Resources Corp. | 150,000 | 152,625 | ||||||
5.00%, 3/15/23 | 402,000 | 389,940 | ||||||
Seven Generations Energy Ltd. | 200,000 | 205,500 | ||||||
6.875%, 6/30/23, 144A | 210,000 | 216,825 | ||||||
5.375%, 9/30/25, 144A | 200,000 | 193,250 | ||||||
SM Energy Co. | 150,000 | 150,000 | ||||||
Sunoco LP / Sunoco Finance Corp. | 350,000 | 355,250 | ||||||
5.50%, 2/15/26 | 200,000 | 199,160 | ||||||
Whiting Petroleum Corp. | 275,000 | 279,813 | ||||||
WPX Energy, Inc. | 389,000 | 403,588 | ||||||
5.25%, 9/15/24 (a) | 250,000 | 250,313 | ||||||
5.75%, 6/01/26 | 200,000 | 202,000 | ||||||
|
| |||||||
11,374,004 | ||||||||
|
| |||||||
Pipelines — 7.5% | ||||||||
Antero Midstream Partners LP / Antero Midstream Finance Corp. | 200,000 | 201,000 | ||||||
5.75%, 3/01/27, 144A | 250,000 | 252,500 | ||||||
Blue Racer Midstream LLC / Blue Racer Finance Corp., 144A | 250,000 | 254,687 | ||||||
Cheniere Corpus Christi Holdings LLC | 400,000 | 444,000 | ||||||
5.875%, 3/31/25 | 650,000 | 693,881 | ||||||
5.125%, 6/30/27 | 475,000 | 485,687 | ||||||
Cheniere Energy Partners LP | 530,000 | 538,612 | ||||||
5.625%, 10/01/26, 144A | 386,000 | 394,202 | ||||||
Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp. | 115,000 | 118,625 | ||||||
5.75%, 4/01/25 | 275,000 | 278,180 | ||||||
DCP Midstream Operating LP | 300,000 | 306,000 | ||||||
3.875%, 3/15/23 | 150,000 | 149,250 | ||||||
5.375%, 7/15/25 | 276,000 | 287,730 | ||||||
Energy Transfer LP | 325,000 | 346,125 | ||||||
4.25%, 3/15/23 | 355,000 | 360,396 | ||||||
5.875%, 1/15/24 | 405,000 | 435,375 | ||||||
5.50%, 6/01/27 | 400,000 | 421,000 | ||||||
EnLink Midstream Partners LP | 320,000 | 312,000 | ||||||
4.85%, 7/15/26 | 306,000 | 300,645 |
See Notes to Financial Statements. | 36 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Pipelines (Continued) | ||||||||
Genesis Energy LP / Genesis Energy Finance Corp. | $ | 300,000 | $ | 306,750 | ||||
NGPL PipeCo LLC | 300,000 | 304,500 | ||||||
4.875%, 8/15/27, 144A | 250,000 | 252,422 | ||||||
NuStar Logistics LP | 220,000 | 223,850 | ||||||
5.625%, 4/28/27 | 150,000 | 150,938 | ||||||
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp. | 125,000 | 125,156 | ||||||
5.50%, 9/15/24, 144A | 263,000 | 269,983 | ||||||
5.50%, 1/15/28, 144A | 250,000 | 250,625 | ||||||
Targa Resources Partners LP / Targa Resources Partners Finance Corp. | 200,000 | 203,248 | ||||||
4.25%, 11/15/23 | 150,000 | 148,500 | ||||||
6.75%, 3/15/24 | 295,000 | 310,119 | ||||||
5.125%, 2/01/25 | 200,000 | 202,000 | ||||||
5.875%, 4/15/26, 144A | 390,000 | 407,550 | ||||||
5.375%, 2/01/27 | 350,000 | 353,504 | ||||||
6.50%, 7/15/27, 144A | 250,000 | 265,000 | ||||||
5.00%, 1/15/28 | 145,000 | 141,194 | ||||||
6.875%, 1/15/29, 144A | 200,000 | 213,375 | ||||||
|
| |||||||
10,708,609 | ||||||||
|
| |||||||
Financial — 8.9% |
| |||||||
Banks — 1.0% |
| |||||||
CIT Group, Inc. | 250,000 | 252,500 | ||||||
5.00%, 8/15/22 | 325,000 | 336,375 | ||||||
5.00%, 8/01/23 | 361,000 | 375,584 | ||||||
4.75%, 2/16/24 | 200,000 | 204,000 | ||||||
5.25%, 3/07/25 | 120,000 | 126,000 | ||||||
6.125%, 3/09/28 | 100,000 | 108,750 | ||||||
|
| |||||||
1,403,209 | ||||||||
|
| |||||||
Diversified Financial Services — 2.6% | ||||||||
Ally Financial, Inc. | 400,000 | 419,500 | ||||||
7.50%, 9/15/20 | 500,000 | 531,875 | ||||||
5.125%, 9/30/24 | 350,000 | 368,375 | ||||||
4.625%, 3/30/25 | 375,000 | 383,325 | ||||||
5.75%, 11/20/25 | 350,000 | 372,312 | ||||||
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., 144A | 253,000 | 257,428 | ||||||
Navient Corp. Series MTN, | 341,000 | 356,969 | ||||||
5.00%, 10/26/20 | 300,000 | 304,587 | ||||||
Springleaf Finance Corp. | 275,000 | 295,144 | ||||||
7.75%, 10/01/21 | 300,000 | 323,148 | ||||||
Vantiv LLC / Vanitv Issuer Corp., 144A | 120,000 | 116,250 | ||||||
|
| |||||||
3,728,913 | ||||||||
|
|
Principal | Value | |||||||
Insurance — 0.1% | ||||||||
Radian Group, Inc. | $ | 150,000 | $ | 146,625 | ||||
|
| |||||||
Real Estate — 0.1% | ||||||||
Realogy Group LLC / Realogy Co.-Issuer Corp., 144A | 150,000 | 149,813 | ||||||
|
| |||||||
Real Estate Investment Trusts — 4.0% | ||||||||
CyrusOne LP / CyrusOne Finance Corp. | 200,000 | 204,000 | ||||||
5.375%, 3/15/27 | 170,000 | 173,400 | ||||||
Equinix, Inc. | 620,000 | 638,987 | ||||||
5.75%, 1/01/25 | 175,000 | 182,875 | ||||||
5.875%, 1/15/26 | 350,000 | 367,500 | ||||||
5.375%, 5/15/27 | 400,000 | 415,000 | ||||||
Iron Mountain, Inc., 144A | 400,000 | 400,000 | ||||||
iStar, Inc. | 150,000 | 151,125 | ||||||
MGM Growth Properties Operating Partnership LP / MGP FinanceCo-Issuer, Inc. | 335,000 | 347,144 | ||||||
4.50%, 9/01/26 | 250,000 | 240,832 | ||||||
5.75%, 2/01/27, 144A | 250,000 | 256,250 | ||||||
MPT Operating Partnership LP / MPT Finance Corp. | 150,000 | 157,875 | ||||||
5.25%, 8/01/26 | 515,000 | 524,656 | ||||||
5.00%, 10/15/27 | 254,000 | 252,730 | ||||||
SBA Communications Corp. | 150,000 | 152,250 | ||||||
4.00%, 10/01/22 | 450,000 | 447,750 | ||||||
4.875%, 9/01/24 | 350,000 | 350,875 | ||||||
Starwood Property Trust, Inc. | 150,000 | 149,438 | ||||||
5.00%, 12/15/21 | 300,000 | 307,125 | ||||||
|
| |||||||
5,719,812 | ||||||||
|
| |||||||
Venture Capital — 1.1% | ||||||||
Icahn Enterprises LP / Icahn Enterprises Finance Corp. | 728,000 | 736,190 | ||||||
5.875%, 2/01/22 | 424,000 | 430,360 | ||||||
6.25%, 2/01/22 | 400,000 | 412,920 | ||||||
|
| |||||||
1,579,470 | ||||||||
|
| |||||||
Industrial — 10.3% |
| |||||||
Aerospace/Defense — 2.6% |
| |||||||
Arconic, Inc. | 345,000 | 357,506 | ||||||
5.40%, 4/15/21 | 300,000 | 309,703 | ||||||
5.87%, 2/23/22 (a) | 450,000 | 471,937 | ||||||
5.125%, 10/01/24 | 368,000 | 365,470 | ||||||
Bombardier, Inc., 144A | 400,000 | 419,040 |
See Notes to Financial Statements. | 37 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Aerospace/Defense (Continued) | ||||||||
TransDigm, Inc. | $ | 400,000 | $ | 408,400 | ||||
6.25%, 3/15/26, 144A | 1,400,000 | 1,435,000 | ||||||
|
| |||||||
3,767,056 | ||||||||
|
| |||||||
Building Materials — 0.2% | ||||||||
Standard Industries, Inc., 144A | 150,000 | 153,750 | ||||||
USG Corp., 144A | 175,000 | 177,130 | ||||||
|
| |||||||
330,880 | ||||||||
|
| |||||||
Electronics — 0.4% | ||||||||
Itron, Inc., 144A | 150,000 | 146,250 | ||||||
Sensata Technologies BV | 250,000 | 257,812 | ||||||
5.625%, 11/01/24, 144A | 100,000 | 105,375 | ||||||
|
| |||||||
509,437 | ||||||||
|
| |||||||
Engineering & Construction — 0.3% | ||||||||
AECOM | 349,000 | 365,421 | ||||||
MasTec, Inc. | 125,000 | 125,781 | ||||||
|
| |||||||
491,202 | ||||||||
|
| |||||||
Environmental Control — 0.3% | ||||||||
Advanced Disposal Services, Inc., 144A | 150,000 | 152,250 | ||||||
Clean Harbors, Inc. | 300,000 | 300,750 | ||||||
|
| |||||||
453,000 | ||||||||
|
| |||||||
Hand/Machine Tools — 0.3% | ||||||||
Colfax Corp. | 200,000 | 206,750 | ||||||
6.375%, 2/15/26, 144A | 150,000 | 156,562 | ||||||
|
| |||||||
363,312 | ||||||||
|
| |||||||
Machinery-Diversified — 0.1% | ||||||||
Welbilt, Inc. | 150,000 | 162,000 | ||||||
|
| |||||||
Packaging & Containers — 4.3% | ||||||||
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc. | 250,000 | 250,175 | ||||||
4.625%, 5/15/23, 144A | 300,000 | 303,000 | ||||||
Ball Corp. | 514,000 | 525,565 | ||||||
5.00%, 3/15/22 | 200,000 | 207,875 | ||||||
4.00%, 11/15/23 | 100,000 | 100,500 | ||||||
5.25%, 7/01/25 | 550,000 | 578,875 | ||||||
4.875%, 3/15/26 | 200,000 | 204,500 | ||||||
Berry Global, Inc. | 175,000 | 177,844 | ||||||
5.125%, 7/15/23 | 350,000 | 351,750 | ||||||
4.50%, 2/15/26, 144A | 150,000 | 142,312 |
Principal | Value | |||||||
Packaging & Containers (Continued) | ||||||||
Crown Americas LLC / Crown Americas Capital Corp. IV | $ | 305,000 | $ | 308,812 | ||||
Graphic Packaging International LLC | 227,000 | 231,540 | ||||||
Owens-Brockway Glass Container, Inc. | 170,000 | 175,493 | ||||||
5.875%, 8/15/23, 144A | 250,000 | 264,063 | ||||||
Reynolds Group Issuer, Inc. / Reynolds Group Issuer LLC / Reynolds Group Issuer Lu | 1,066,018 | 1,069,483 | ||||||
5.125%, 7/15/23, 144A | 575,000 | 575,719 | ||||||
Sealed Air Corp. | 100,000 | 104,500 | ||||||
5.125%, 12/01/24, 144A | 225,000 | 232,551 | ||||||
5.50%, 9/15/25, 144A | 300,000 | 313,500 | ||||||
|
| |||||||
6,118,057 | ||||||||
|
| |||||||
Transportation — 0.5% | ||||||||
XPO Logistics, Inc. | 504,000 | 514,710 | ||||||
6.125%, 9/01/23, 144A | 150,000 | 150,188 | ||||||
|
| |||||||
664,898 | ||||||||
|
| |||||||
Trucking & Leasing — 1.3% | ||||||||
Avolon Holdings Funding Ltd. | 270,000 | 277,479 | ||||||
5.125%, 10/01/23, 144A | 300,000 | 303,750 | ||||||
Park Aerospace Holdings Ltd. | 600,000 | 615,726 | ||||||
4.50%, 3/15/23, 144A | 320,000 | 318,400 | ||||||
5.50%, 2/15/24, 144A | 400,000 | 414,500 | ||||||
|
| |||||||
1,929,855 | ||||||||
|
| |||||||
Technology — 5.4% |
| |||||||
Computers — 1.5% |
| |||||||
Dell International LLC / EMC Corp., 144A | 717,000 | 731,651 | ||||||
Dell, Inc. | 100,000 | 101,687 | ||||||
EMC Corp. | 635,000 | 629,088 | ||||||
3.375%, 6/01/23 | 350,000 | 336,317 | ||||||
Leidos Holdings, Inc. | 200,000 | 204,870 | ||||||
NCR Corp. | 200,000 | 199,500 | ||||||
|
| |||||||
2,203,113 | ||||||||
|
| |||||||
Office/Business Equipment — 0.9% | ||||||||
CDW LLC / CDW Finance Corp. | 150,000 | 151,875 | ||||||
5.50%, 12/01/24 | 200,000 | 209,500 | ||||||
5.00%, 9/01/25 | 250,000 | 252,500 | ||||||
Pitney Bowes, Inc. | 200,000 | 195,000 |
See Notes to Financial Statements. | 38 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Office/Business Equipment (Continued) | ||||||||
Xerox Corp. | $ | 400,000 | $ | 407,000 | ||||
|
| |||||||
1,215,875 | ||||||||
|
| |||||||
Semiconductors — 0.1% | ||||||||
Amkor Technology, Inc. | 161,000 | 162,610 | ||||||
|
| |||||||
Software — 2.9% | ||||||||
CDK Global, Inc. | 180,000 | 183,150 | ||||||
First Data Corp. | 565,000 | 579,481 | ||||||
5.00%, 1/15/24, 144A | 646,000 | 663,368 | ||||||
5.75%, 1/15/24, 144A | 706,000 | 729,439 | ||||||
IQVIA, Inc. | 270,000 | 275,400 | ||||||
5.00%, 10/15/26, 144A | 400,000 | 408,500 | ||||||
MSCI, Inc. | 500,000 | 515,000 | ||||||
5.75%, 8/15/25, 144A | 100,000 | 104,500 | ||||||
5.375%, 5/15/27, 144A | 354,000 | 366,390 | ||||||
Open Text Corp., 144A | 320,000 | 330,000 | ||||||
|
| |||||||
4,155,228 | ||||||||
|
| |||||||
Utilities — 3.5% |
| |||||||
Electric — 3.5% |
| |||||||
AES Corp. | 100,000 | 100,561 | ||||||
4.50%, 3/15/23 | 50,000 | 50,500 | ||||||
4.875%, 5/15/23 | 410,000 | 414,997 | ||||||
5.50%, 4/15/25 | 185,000 | 191,244 | ||||||
6.00%, 5/15/26 | 225,000 | 237,938 | ||||||
5.125%, 9/01/27 | 150,000 | 154,500 | ||||||
Calpine Corp. | 250,000 | 254,375 | ||||||
5.875%, 1/15/24, 144A | 200,000 | 204,500 |
Principal | Value | |||||||
Electric (Continued) | ||||||||
NextEra Energy Operating Partners LP | $ | 325,000 | $ | 320,531 | ||||
4.50%, 9/15/27, 144A | 105,000 | 100,406 | ||||||
NRG Energy, Inc. | 350,000 | 363,125 | ||||||
7.25%, 5/15/26 | 300,000 | 325,125 | ||||||
6.625%, 1/15/27 | 471,000 | 502,645 | ||||||
5.75%, 1/15/28 | 256,000 | 263,680 | ||||||
Vistra Energy Corp. | 200,000 | 206,250 | ||||||
7.625%, 11/01/24 | 342,000 | 364,230 | ||||||
Vistra Operations Co. LLC | 375,000 | 390,000 | ||||||
5.625%, 2/15/27, 144A | 550,000 | 567,875 | ||||||
|
| |||||||
5,012,482 | ||||||||
|
| |||||||
TOTAL CORPORATE BONDS | 141,226,806 | |||||||
|
| |||||||
Number | ||||||||
SECURITIES LENDING COLLATERAL — 1.4% | ||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 2.31% (b)(c) | 2,001,021 | 2,001,021 | ||||||
|
| |||||||
CASH EQUIVALENTS — 1.6% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 2.38% (b) | 2,298,360 | 2,298,360 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 101.4% (Cost $145,085,176) | $ | 145,526,187 | ||||||
Other assets and liabilities, net — (1.4%) | (2,013,757 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 143,512,430 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2019 is as follows:
Value ($) at 8/31/2018 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2019 | Value ($) at 2/28/2019 | ||||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL —1.4% | ||||||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 2.31% (b)(c) | ||||||||||||||||||||||||||||||||||||||
2,990,054 | — | (989,033 | )(d) | — | — | 7,497 | — | 2,001,021 | 2,001,021 | |||||||||||||||||||||||||||||
CASH EQUIVALENTS —1.6% | ||||||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 2.38% (b) | ||||||||||||||||||||||||||||||||||||||
— | 10,506,275 | (8,207,915 | ) | — | — | 16,584 | — | 2,298,360 | 2,298,360 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||
2,990,054 | 10,506,275 | (9,196,948 | ) | — | — | 24,081 | — | 4,299,381 | 4,299,381 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2019 amounted to $2,706,437, which is 1.9% of net assets. |
See Notes to Financial Statements. | 39 |
DBX ETF Trust
Schedule of Investments
Xtrackers Low Beta High Yield Bond ETF(Continued)
February 28, 2019 (Unaudited)
(b) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualizedseven-day yield at period end. |
(c) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund heldnon-cash U.S. Treasury securities collateral having a value of $806,301. |
(d) | Represents the net increase (purchases cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2019. |
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 February 28, 2019 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 (e) | $ | — | $ | 141,226,806 | $ | — | $ | 141,226,806 | ||||||||
Short-Term Investments (e) | 4,299,381 | — | — | 4,299,381 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 4,299,381 | $ | 141,226,806 | $ | — | $ | 145,526,187 | ||||||||
|
|
|
|
|
|
|
|
(e) | See Schedule of Investments for additional detailed categorizations. |
See Notes to Financial Statements. | 40 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF
February 28, 2019 (Unaudited)
Principal | Value | |||||||
CORPORATE BONDS — 97.0% | ||||||||
Basic Materials — 5.6% | ||||||||
Chemicals — 3.0% | ||||||||
Ashland LLC | $ | 116,000 | $ | 119,625 | ||||
CF Industries, Inc. | 283,000 | 293,966 | ||||||
Chemours Co. | 117,000 | 121,832 | ||||||
Hexion, Inc. | 200,000 | 171,000 | ||||||
10.375%, 2/01/22, 144A (a) | 47,000 | 40,067 | ||||||
Huntsman International LLC | 165,000 | 169,146 | ||||||
Momentive Performance Materials, Inc. | 73,000 | 78,931 | ||||||
NOVA Chemicals Corp., 144A | 89,000 | 88,444 | ||||||
OCI NV, 144A | 44,000 | 45,705 | ||||||
PolyOne Corp. | 89,000 | 91,448 | ||||||
WR Grace & Co.-Conn, 144A | 111,000 | 114,762 | ||||||
|
| |||||||
1,334,926 | ||||||||
|
| |||||||
Iron/Steel — 0.6% | ||||||||
AK Steel Corp. | 34,000 | 34,425 | ||||||
Allegheny Technologies, Inc. | 32,000 | 33,050 | ||||||
7.875%, 8/15/23 | 70,000 | 76,933 | ||||||
Steel Dynamics, Inc. | 134,000 | 134,921 | ||||||
|
| |||||||
279,329 | ||||||||
|
| |||||||
Mining — 2.0% | ||||||||
Aleris International, Inc., 144A | 45,000 | 47,025 | ||||||
FMG Resources August 2006 Pty Ltd., 144A | 169,000 | 169,634 | ||||||
Freeport-McMoRan, Inc. | 89,000 | 89,334 | ||||||
3.55%, 3/01/22 | 178,000 | 176,442 | ||||||
6.875%, 2/15/23 | 89,000 | 94,340 | ||||||
3.875%, 3/15/23 | 178,000 | 175,860 | ||||||
Joseph T Ryerson & Son, Inc., 144A | 134,000 | 140,868 | ||||||
|
| |||||||
893,503 | ||||||||
|
| |||||||
Communications — 21.4% |
| |||||||
Advertising — 0.3% |
| |||||||
Lamar Media Corp. | 54,000 | 55,215 | ||||||
Outfront Media Capital LLC / Outfront Media Capital Corp. | 66,000 | 67,257 | ||||||
|
| |||||||
122,472 | ||||||||
|
|
Principal | Value | |||||||
Internet — 1.4% | ||||||||
Netflix, Inc. | $ | 111,000 | $ | 115,024 | ||||
5.50%, 2/15/22 | 88,000 | 92,510 | ||||||
Symantec Corp. | 89,000 | 90,035 | ||||||
3.95%, 6/15/22 | 89,000 | 89,019 | ||||||
VeriSign, Inc. | 89,000 | 90,741 | ||||||
Zayo Group LLC / Zayo Capital, Inc. | 134,000 | 136,345 | ||||||
|
| |||||||
613,674 | ||||||||
|
| |||||||
Media — 8.7% | ||||||||
Altice Financing SA, 144A | 200,000 | 205,000 | ||||||
Altice Luxembourg SA, 144A | 325,000 | 324,187 | ||||||
AMC Networks, Inc. | 66,000 | 67,072 | ||||||
Cablevision Systems Corp. | 169,000 | 177,450 | ||||||
5.875%, 9/15/22 | 22,000 | 22,749 | ||||||
CCO Holdings LLC / CCO Holdings Capital Corp. | 298,000 | 304,332 | ||||||
4.00%, 3/01/23, 144A (a) | 218,000 | 215,820 | ||||||
Clear Channel Worldwide Holdings, Inc. | 96,000 | 98,520 | ||||||
Series B, 6.50%, 11/15/22 | 216,000 | 221,940 | ||||||
CSC Holdings LLC | 89,000 | 95,008 | ||||||
5.125%, 12/15/21, 144A | 294,000 | 295,658 | ||||||
5.375%, 7/15/23, 144A | 200,000 | 206,040 | ||||||
DISH DBS Corp. | 168,000 | 171,780 | ||||||
5.125%, 5/01/20 | 134,000 | 135,340 | ||||||
6.75%, 6/01/21 | 178,000 | 182,450 | ||||||
5.875%, 7/15/22 | 156,000 | 149,565 | ||||||
5.00%, 3/15/23 | 200,000 | 178,750 | ||||||
Quebecor Media, Inc. | 158,000 | 164,468 | ||||||
Sinclair Television Group, Inc. | 89,000 | 89,334 | ||||||
Sirius XM Radio, Inc., 144A | 218,000 | 218,273 | ||||||
TEGNA, Inc. | 133,000 | 137,988 | ||||||
Tribune Media Co. | 103,000 | 105,318 | ||||||
Univision Communications, Inc., 144A | 116,000 | 105,560 | ||||||
|
| |||||||
3,872,602 | ||||||||
|
| |||||||
Telecommunications — 11.0% | ||||||||
Anixter, Inc. | 66,000 | 67,898 |
See Notes to Financial Statements. | 41 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Telecommunications (Continued) | ||||||||
CenturyLink, Inc. | $ | 89,000 | $ | 90,696 | ||||
Series S, 6.45%, 6/15/21 | 156,000 | 162,427 | ||||||
Series T, 5.80%, 3/15/22 | 200,000 | 206,250 | ||||||
Series W, 6.75%, 12/01/23 (a) | 45,000 | 46,842 | ||||||
CommScope, Inc., 144A | 92,000 | 92,460 | ||||||
Consolidated Communications, Inc. | 36,000 | 33,750 | ||||||
Frontier Communications Corp. | 45,000 | 45,056 | ||||||
8.75%, 4/15/22 | 102,000 | 70,125 | ||||||
10.50%, 9/15/22 (a) | 196,000 | 141,120 | ||||||
7.125%, 1/15/23 | 84,000 | 49,980 | ||||||
GTH Finance BV, 144A | 200,000 | 213,389 | ||||||
Hughes Satellite Systems Corp. | 111,000 | 111,902 | ||||||
7.625%, 6/15/21 | 178,000 | 191,350 | ||||||
Inmarsat Finance PLC, 144A | 50,000 | 50,250 | ||||||
Intelsat Connect Finance SA, 144A | 111,000 | 107,948 | ||||||
Intelsat Jackson Holdings SA | 54,000 | 62,775 | ||||||
5.50%, 8/01/23 | 232,000 | 212,860 | ||||||
Intelsat Luxembourg SA | 191,000 | 187,180 | ||||||
8.125%, 6/01/23 | 75,000 | 63,000 | ||||||
Level 3 Financing, Inc. | 89,000 | 89,779 | ||||||
5.625%, 2/01/23 | 134,000 | 135,340 | ||||||
5.125%, 5/01/23 | 59,000 | 59,595 | ||||||
5.375%, 1/15/24 | 100,000 | 100,750 | ||||||
Level 3 Parent LLC | 65,000 | 65,894 | ||||||
Nokia OYJ | 111,000 | 109,024 | ||||||
Qwest Corp. | 111,000 | 118,470 | ||||||
Sprint Communications, Inc. | 95,000 | 98,325 | ||||||
7.00%, 8/15/20 | 138,000 | 144,196 | ||||||
11.50%, 11/15/21 | 178,000 | 208,224 | ||||||
6.00%, 11/15/22 | 200,000 | 203,400 | ||||||
Sprint Corp. | 223,000 | 236,101 | ||||||
7.875%, 9/15/23 | 477,000 | 511,707 | ||||||
Telecom Italia Capital SA | 26,000 | 26,307 | ||||||
Telefonaktiebolaget LM Ericsson | 119,000 | 120,367 | ||||||
T-Mobile USA, Inc. | 89,000 | 89,445 | ||||||
6.00%, 3/01/23 | 62,000 | 63,860 | ||||||
VEON Holdings BV, 144A | 200,000 | 197,000 |
Principal | Value | |||||||
Telecommunications (Continued) | ||||||||
WTT Investment Ltd., 144A | $ | 112,000 | $ | 111,187 | ||||
|
| |||||||
4,896,229 | ||||||||
|
| |||||||
Consumer, Cyclical — 11.8% |
| |||||||
Airlines — 0.8% |
| |||||||
American Airlines Group, Inc. | 89,000 | 90,112 | ||||||
4.625%, 3/01/20, 144A | 186,000 | 187,860 | ||||||
Virgin Australia Holdings Ltd., 144A | 58,000 | 59,363 | ||||||
|
| |||||||
337,335 | ||||||||
|
| |||||||
Auto Manufacturers — 1.4% | ||||||||
Fiat Chrysler Automobiles NV | 100,000 | 101,000 | ||||||
5.25%, 4/15/23 | 250,000 | 254,625 | ||||||
Jaguar Land Rover Automotive PLC | 50,000 | 49,938 | ||||||
3.50%, 3/15/20, 144A (a) | 200,000 | 198,190 | ||||||
|
| |||||||
603,753 | ||||||||
|
| |||||||
Auto Parts & Equipment — 0.3% | ||||||||
American Axle & Manufacturing, Inc. | 45,000 | 46,181 | ||||||
Goodyear Tire & Rubber Co. | 89,000 | 89,111 | ||||||
|
| |||||||
135,292 | ||||||||
|
| |||||||
Distribution/Wholesale — 0.1% | ||||||||
LKQ Corp. | 68,000 | 68,680 | ||||||
|
| |||||||
Entertainment — 1.6% | ||||||||
Cinemark USA, Inc. | 187,000 | 190,506 | ||||||
4.875%, 6/01/23 | 60,000 | 60,075 | ||||||
International Game Technology PLC, 144A | 175,000 | 183,750 | ||||||
Scientific Games International, Inc. | 245,000 | 258,475 | ||||||
|
| |||||||
692,806 | ||||||||
|
| |||||||
Food Service — 0.1% | ||||||||
Aramark Services, Inc. | 50,000 | 51,250 | ||||||
|
| |||||||
Home Builders — 1.9% | ||||||||
Beazer Homes USA, Inc. | 134,000 | 139,527 | ||||||
K Hovnanian Enterprises, Inc., 144A | 45,000 | 36,337 | ||||||
KB Home | 89,000 | 94,451 | ||||||
Lennar Corp. | 22,000 | 22,138 | ||||||
8.375%, 1/15/21 | 87,000 | 94,286 | ||||||
4.125%, 1/15/22 | 134,000 | 133,833 | ||||||
4.75%, 11/15/22 | 45,000 | 46,167 |
See Notes to Financial Statements. | 42 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Home Builders (Continued) | ||||||||
Mattamy Group Corp., 144A | $ | 45,000 | $ | 44,888 | ||||
PulteGroup, Inc. | 100,000 | 101,125 | ||||||
Taylor Morrison Communities, Inc. / Taylor Morrison Holdings II, Inc., 144A | 80,000 | 80,400 | ||||||
Toll Brothers Finance Corp. | 62,000 | 62,279 | ||||||
|
| |||||||
855,431 | ||||||||
|
| |||||||
Home Furnishings — 0.2% | ||||||||
Tempur Sealy International, Inc. | 89,000 | 90,113 | ||||||
|
| |||||||
Leisure Time — 0.3% | ||||||||
24 Hour Fitness Worldwide, Inc., 144A 8.00%, 6/01/22 (a) | 66,000 | 65,010 | ||||||
Sabre GLBL, Inc., 144A | 66,000 | 67,650 | ||||||
|
| |||||||
132,660 | ||||||||
|
| |||||||
Lodging — 2.5% | ||||||||
Boyd Gaming Corp. | 111,000 | 116,411 | ||||||
Diamond Resorts International, Inc., 144A | 59,000 | 59,442 | ||||||
Jack Ohio Finance LLC / Jack Ohio Finance 1 Corp., 144A | 89,000 | 91,892 | ||||||
MGM Resorts International | 223,000 | 227,516 | ||||||
6.625%, 12/15/21 | 89,000 | 95,008 | ||||||
7.75%, 3/15/22 | 66,000 | 72,600 | ||||||
6.00%, 3/15/23 | 200,000 | 209,750 | ||||||
Studio City Co. Ltd., 144A | 100,000 | 104,030 | ||||||
Wyndham Destinations, Inc. | 90,000 | 89,780 | ||||||
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp., 144A | 54,000 | 53,528 | ||||||
|
| |||||||
1,119,957 | ||||||||
|
| |||||||
Retail — 2.5% | ||||||||
1011778 BC ULC / New Red Finance, Inc., 144A | 202,000 | 203,263 | ||||||
Ferrellgas LP / Ferrellgas Finance Corp. | 54,000 | 48,600 | ||||||
6.75%, 1/15/22 | 54,000 | 48,330 | ||||||
6.75%, 6/15/23 (a) | 45,000 | 40,500 | ||||||
Group 1 Automotive, Inc. | 45,000 | 45,394 | ||||||
JC Penney Corp., Inc., 144A | 58,000 | 49,880 | ||||||
L Brands, Inc. | 45,000 | 47,025 |
Principal | Value | |||||||
Retail (Continued) | ||||||||
6.694%, 1/15/27 | $ | 62,000 | $ | 59,055 | ||||
Neiman Marcus Group Ltd. LLC, 144A | 98,000 | 51,450 | ||||||
Penske Automotive Group, Inc. | 89,000 | 90,780 | ||||||
PetSmart, Inc., 144A | 193,000 | 131,722 | ||||||
QVC, Inc. | 134,000 | 139,710 | ||||||
Rite Aid Corp., 144A | 201,000 | 172,106 | ||||||
|
| |||||||
1,127,815 | ||||||||
|
| |||||||
Storage / Warehousing — 0.1% | ||||||||
Algeco Global Finance PLC, 144A | 25,000 | 25,062 | ||||||
|
| |||||||
Consumer,Non-cyclical — 18.4% | ||||||||
Commercial Services — 5.3% |
| |||||||
ADT Security Corp. | 178,000 | 188,235 | ||||||
4.125%, 6/15/23 | 133,000 | 130,839 | ||||||
Ahern Rentals, Inc., 144A | 45,000 | 41,737 | ||||||
APX Group, Inc. | 178,000 | 177,777 | ||||||
7.875%, 12/01/22 | 103,000 | 102,742 | ||||||
Avis Budget Car Rental LLC / Avis Budget Finance, Inc. | 71,000 | 72,065 | ||||||
Herc Rentals, Inc., 144A | 133,000 | 139,318 | ||||||
Hertz Corp. | 170,000 | 170,000 | ||||||
7.375%, 1/15/21 (a) | 73,000 | 73,137 | ||||||
7.625%, 6/01/22, 144A | 107,000 | 109,675 | ||||||
6.25%, 10/15/22 | 36,000 | 34,290 | ||||||
Jaguar Holding Co. II / Pharmaceutical Product Development LLC, 144A | 134,000 | 135,340 | ||||||
Monitronics International, Inc. | 46,000 | 11,270 | ||||||
Nielsen Co. Luxembourg SARL, 144A | 111,000 | 112,249 | ||||||
Nielsen Finance LLC / Nielsen Finance Co. | 45,000 | 45,113 | ||||||
5.00%, 4/15/22, 144A | 224,000 | 224,560 | ||||||
Prime Security Services Borrower LLC / Prime Finance, Inc., 144A | 215,000 | 227,255 | ||||||
Service Corp. International | 196,000 | 198,450 | ||||||
United Rentals North America, Inc. | 89,000 | 91,047 | ||||||
WEX, Inc., 144A | 89,000 | 88,555 | ||||||
|
| |||||||
2,373,654 | ||||||||
|
|
See Notes to Financial Statements. | 43 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Cosmetics/Personal Care — 0.6% | ||||||||
Avon Products, Inc. | $ | 45,000 | $ | 45,956 | ||||
7.00%, 3/15/23 (a) | 66,000 | 63,690 | ||||||
Edgewell Personal Care Co. | 89,000 | 89,875 | ||||||
Revlon Consumer Products Corp. | 66,000 | 57,585 | ||||||
|
| |||||||
257,106 | ||||||||
|
| |||||||
Food — 1.0% | ||||||||
B&G Foods, Inc. | 45,000 | 45,098 | ||||||
Darling Ingredients, Inc. | 198,000 | 200,723 | ||||||
JBS Investments GmbH, 144A | 200,000 | 202,552 | ||||||
|
| |||||||
448,373 | ||||||||
|
| |||||||
Healthcare-Products — 1.6% | ||||||||
Hill-Rom Holdings, Inc., 144A | 71,000 | 73,396 | ||||||
Kinetic Concepts, Inc. / KCI USA, Inc., 144A | 101,000 | 109,585 | ||||||
Mallinckrodt International Finance SA / Mallinckrodt CB LLC | 111,000 | 111,011 | ||||||
5.75%, 8/01/22, 144A (a) | 89,000 | 84,105 | ||||||
5.625%, 10/15/23, 144A | 134,000 | 117,879 | ||||||
Ortho-Clinical Diagnostics, Inc. / Ortho-Clinical Diagnostics SA, 144A | 143,000 | 138,353 | ||||||
Sotera Health Holdings LLC, 144A | 79,000 | 79,790 | ||||||
|
| |||||||
714,119 | ||||||||
|
| |||||||
Healthcare-Services — 7.3% | ||||||||
Acadia Healthcare Co., Inc. | 89,000 | 88,777 | ||||||
Centene Corp. | 214,000 | 217,210 | ||||||
4.75%, 5/15/22 | 104,000 | 106,340 | ||||||
CHS/Community Health Systems, Inc. | 45,000 | 44,212 | ||||||
6.875%, 2/01/22 (a) | 238,000 | 157,080 | ||||||
6.25%, 3/31/23 | 268,000 | 258,955 | ||||||
11.00%, 6/30/23, 144A (a) | 156,000 | 143,910 | ||||||
8.625%, 1/15/24, 144A (a) | 100,000 | 103,250 | ||||||
8.125%, 6/30/24, 144A (a) | 134,000 | 113,230 | ||||||
DaVita, Inc. | 111,000 | 113,295 | ||||||
HCA Healthcare, Inc. | 78,000 | 81,927 | ||||||
HCA, Inc. | 200,000 | 219,750 | ||||||
5.875%, 5/01/23 | 150,000 | 159,000 | ||||||
Molina Healthcare, Inc. | 111,000 | 114,850 |
Principal | Value | |||||||
Healthcare-Services (Continued) | ||||||||
Quorum Health Corp. | $ | 49,000 | $ | 45,203 | ||||
RegionalCare Hospital Partners Holdings, Inc., 144A | 84,000 | 89,985 | ||||||
Surgery Center Holdings, Inc., 144A | 40,000 | 40,900 | ||||||
Tenet Healthcare Corp. | 186,000 | 188,790 | ||||||
6.00%, 10/01/20 | 186,000 | 192,975 | ||||||
4.50%, 4/01/21 | 89,000 | 90,558 | ||||||
4.375%, 10/01/21 | 134,000 | 136,345 | ||||||
8.125%, 4/01/22 | 357,000 | 382,436 | ||||||
6.75%, 6/15/23 | 134,000 | 137,853 | ||||||
|
| |||||||
3,226,831 | ||||||||
|
| |||||||
Household Products/Wares — 0.2% | ||||||||
Spectrum Brands, Inc. | 89,000 | 91,225 | ||||||
|
| |||||||
Pharmaceuticals — 2.4% | ||||||||
Bausch Health Cos., Inc. | 134,000 | 139,025 | ||||||
5.50%, 3/01/23, 144A | 178,000 | 177,777 | ||||||
5.875%, 5/15/23, 144A | 303,000 | 302,621 | ||||||
Elanco Animal Health, Inc., 144A | 100,000 | 101,588 | ||||||
Endo Dac / Endo Finance LLC / Endo Finco, Inc., 144A | 200,000 | 166,750 | ||||||
Endo Finance LLC, 144A | 85,000 | 79,900 | ||||||
Endo Finance LLC / Endo Finco, Inc., 144A | 93,000 | 77,132 | ||||||
|
| |||||||
1,044,793 | ||||||||
|
| |||||||
Energy — 12.8% |
| |||||||
Coal — 0.1% |
| |||||||
Peabody Energy Corp., 144A | 75,000 | 75,938 | ||||||
|
| |||||||
Energy-Alternate Sources — 0.2% | ||||||||
TerraForm Power Operating LLC, 144A | 89,000 | 88,618 | ||||||
|
| |||||||
Oil & Gas — 9.0% | ||||||||
Antero Resources Corp. | 100,000 | 100,750 | ||||||
5.125%, 12/01/22 | 239,000 | 240,279 | ||||||
Ascent Resources Utica Holdings LLC / ARU Finance Corp., 144A | 58,000 | 62,785 | ||||||
Baytex Energy Corp., 144A | 45,000 | 44,550 | ||||||
Bruin E&P Partners LLC, 144A | 66,000 | 64,845 | ||||||
California Resources Corp., 144A | 232,000 | 185,890 |
See Notes to Financial Statements. | 44 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Oil & Gas (Continued) | ||||||||
Calumet Specialty Products Partners LP / Calumet Finance Corp. | $ | 112,000 | $ | 104,160 | ||||
Carrizo Oil & Gas, Inc. | 111,000 | 110,029 | ||||||
Chesapeake Energy Corp. | 69,000 | 71,070 | ||||||
6.125%, 2/15/21 | 45,000 | 46,237 | ||||||
4.875%, 4/15/22 (a) | 134,000 | 129,310 | ||||||
Citgo Holding, Inc., 144A | 156,000 | 160,485 | ||||||
CITGO Petroleum Corp., 144A | 73,000 | 73,000 | ||||||
CNX Resources Corp. | 178,000 | 180,225 | ||||||
Continental Resources, Inc. | 218,000 | 222,379 | ||||||
Denbury Resources, Inc. | 111,000 | 111,832 | ||||||
7.50%, 2/15/24, 144A | 50,000 | 44,875 | ||||||
Jones Energy Holdings LLC / Jones Energy Finance Corp., 144A | 50,000 | 31,500 | ||||||
MEG Energy Corp., 144A | 80,000 | 73,300 | ||||||
Murphy Oil Corp. | 89,000 | 88,672 | ||||||
Nabors Industries, Inc. | 178,000 | 179,557 | ||||||
4.625%, 9/15/21 | 45,000 | 44,269 | ||||||
5.50%, 1/15/23 | 66,000 | 62,205 | ||||||
Noble Holding International Ltd. | 50,000 | 44,687 | ||||||
Oasis Petroleum, Inc. | 89,000 | 89,111 | ||||||
PBF Holding Co. LLC / PBF Finance Corp. | 50,000 | 51,375 | ||||||
QEP Resources, Inc. | 89,000 | 87,776 | ||||||
5.25%, 5/01/23 | 36,000 | 34,830 | ||||||
Range Resources Corp. | 54,000 | 53,460 | ||||||
5.00%, 3/15/23 | 111,000 | 107,670 | ||||||
Rowan Cos., Inc. | 70,000 | 65,494 | ||||||
Sable Permian Resources Land LLC / AEPB Finance Corp. | 54,000 | 22,140 | ||||||
13.00%, 11/30/20, 144A | 178,000 | 183,340 | ||||||
7.375%, 11/01/21, 144A (a) | 36,000 | 14,760 | ||||||
Sanchez Energy Corp., 144A | 60,000 | 52,050 | ||||||
SM Energy Co. | 74,000 | 74,000 | ||||||
5.00%, 1/15/24 (a) | 50,000 | 47,313 | ||||||
Sunoco LP / Sunoco Finance Corp. | 156,000 | 158,340 |
Principal | Value | |||||||
Oil & Gas (Continued) | ||||||||
Transocean, Inc. | $ | 66,000 | $ | 64,680 | ||||
9.00%, 7/15/23, 144A | 111,000 | 117,521 | ||||||
Whiting Petroleum Corp. | 98,000 | 99,715 | ||||||
6.25%, 4/01/23 (a) | 45,000 | 45,450 | ||||||
WPX Energy, Inc. | 149,000 | 154,588 | ||||||
|
| |||||||
4,000,504 | ||||||||
|
| |||||||
Oil & Gas Services — 1.0% | ||||||||
Bristow Group, Inc. | 36,000 | 11,160 | ||||||
KCA Deutag UK Finance PLC | 75,000 | 60,187 | ||||||
9.625%, 4/01/23, 144A | 50,000 | 38,375 | ||||||
SESI LLC | 89,000 | 82,770 | ||||||
Weatherford International Ltd. | 89,000 | 80,100 | ||||||
4.50%, 4/15/22 | 89,000 | 61,633 | ||||||
8.25%, 6/15/23 | 66,000 | 47,355 | ||||||
9.875%, 2/15/24 | 75,000 | 54,375 | ||||||
|
| |||||||
435,955 | ||||||||
|
| |||||||
Pipelines — 2.5% | ||||||||
Blue Racer Midstream LLC / Blue Racer Finance Corp., 144A | 89,000 | 90,669 | ||||||
Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp. | 134,000 | 138,224 | ||||||
DCP Midstream Operating LP | 89,000 | 88,555 | ||||||
Energy Transfer LP | 105,000 | 111,825 | ||||||
4.25%, 3/15/23 | 89,000 | 90,353 | ||||||
Genesis Energy LP / Genesis Energy Finance Corp. | 200,000 | 204,500 | ||||||
NGPL PipeCo LLC, 144A | 89,000 | 90,335 | ||||||
NuStar Logistics LP | 89,000 | 90,557 | ||||||
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp., 144A | 100,000 | 100,125 | ||||||
Targa Resources Partners LP / Targa Resources Partners Finance Corp. | 100,000 | 99,000 | ||||||
|
| |||||||
1,104,143 | ||||||||
|
| |||||||
Financial — 10.1% |
| |||||||
Banks — 0.7% |
| |||||||
CIT Group, Inc. | 178,000 | 184,230 | ||||||
5.00%, 8/01/23 | 89,000 | 92,596 | ||||||
|
| |||||||
276,826 | ||||||||
|
|
See Notes to Financial Statements. | 45 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Diversified Financial Services — 5.5% | ||||||||
Ally Financial, Inc. | $ | 147,000 | $ | 147,808 | ||||
8.00%, 3/15/20 | 148,000 | 155,215 | ||||||
4.125%, 3/30/20 | 88,000 | 88,660 | ||||||
7.50%, 9/15/20 | 79,000 | 84,036 | ||||||
4.125%, 2/13/22 | 89,000 | 89,807 | ||||||
4.625%, 5/19/22 | 22,000 | 22,467 | ||||||
Blackstone CQP Holdco LP, 144A | 223,000 | 223,279 | ||||||
Jefferies Finance LLC / JFIN Co.-Issuer Corp., 144A | 25,000 | 25,594 | ||||||
Jefferies Finance LLC / JFINCo-Issuer Corp. | 50,000 | 50,225 | ||||||
6.875%, 4/15/22, 144A | 75,000 | 75,187 | ||||||
Lincoln Finance Ltd., 144A | 100,000 | 102,125 | ||||||
Nationstar Mortgage Holdings, Inc., 144A | 89,000 | 90,780 | ||||||
Navient Corp. | 68,000 | 68,043 | ||||||
Series MTN, 8.00%, 3/25/20 | 200,000 | 209,366 | ||||||
5.00%, 10/26/20 | 111,000 | 112,697 | ||||||
5.875%, 3/25/21 | 89,000 | 91,002 | ||||||
Series MTN, 7.25%, 1/25/22 | 111,000 | 116,828 | ||||||
6.50%, 6/15/22 | 223,000 | 229,690 | ||||||
5.50%, 1/25/23 | 45,000 | 44,606 | ||||||
7.25%, 9/25/23 | 45,000 | 46,575 | ||||||
Springleaf Finance Corp. | 178,000 | 191,734 | ||||||
6.125%, 5/15/22 | 89,000 | 92,783 | ||||||
5.625%, 3/15/23 | 89,000 | 90,669 | ||||||
|
| |||||||
2,449,176 | ||||||||
|
| |||||||
Insurance — 0.5% | ||||||||
Acrisure LLC / Acrisure Finance, Inc., 144A | 100,000 | 102,562 | ||||||
Ardonagh Midco 3 PLC, 144A | 50,000 | 44,250 | ||||||
Genworth Holdings, Inc. | 79,000 | 77,440 | ||||||
|
| |||||||
224,252 | ||||||||
|
| |||||||
Real Estate — 0.3% | ||||||||
Realogy Group LLC / Realogy Co.-Issuer Corp. | 89,000 | 88,889 | ||||||
4.875%, 6/01/23, 144A (a) | 49,000 | 44,590 | ||||||
|
| |||||||
133,479 | ||||||||
|
| |||||||
Real Estate Investment Trusts — 2.4% | ||||||||
CBL & Associates LP | 45,000 | 36,900 | ||||||
Equinix, Inc. | 101,000 | 104,093 | ||||||
5.375%, 4/01/23 | 119,000 | 121,529 | ||||||
Iron Mountain, Inc. | 89,000 | 89,000 | ||||||
6.00%, 8/15/23 | 104,000 | 106,860 |
Principal | Value | |||||||
Real Estate Investment Trusts (Continued) | ||||||||
iStar, Inc. | $ | 66,000 | $ | 66,495 | ||||
5.25%, 9/15/22 | 36,000 | 35,370 | ||||||
SBA Communications Corp. | 89,000 | 90,335 | ||||||
4.00%, 10/01/22 | 89,000 | 88,555 | ||||||
Starwood Property Trust, Inc. | 111,000 | 113,636 | ||||||
Uniti Group LP / Uniti Group Finance, Inc. / CSL Capital LLC | 119,000 | 110,967 | ||||||
8.25%, 10/15/23 | 111,000 | 96,848 | ||||||
|
| |||||||
1,060,588 | ||||||||
|
| |||||||
Venture Capital — 0.7% | ||||||||
Icahn Enterprises LP / Icahn Enterprises Finance Corp. | 223,000 | 226,345 | ||||||
6.25%, 2/01/22 | 89,000 | 91,875 | ||||||
|
| |||||||
318,220 | ||||||||
|
| |||||||
Industrial — 9.3% |
| |||||||
Aerospace/Defense — 2.6% |
| |||||||
Arconic, Inc. | 197,000 | 203,371 | ||||||
5.87%, 2/23/22 | 200,000 | 209,750 | ||||||
Bombardier, Inc. | 134,000 | 140,379 | ||||||
8.75%, 12/01/21, 144A | 111,000 | 122,516 | ||||||
5.75%, 3/15/22, 144A | 91,000 | 91,637 | ||||||
6.00%, 10/15/22, 144A (a) | 116,000 | 117,160 | ||||||
6.125%, 1/15/23, 144A | 125,000 | 126,250 | ||||||
TransDigm, Inc. | 134,000 | 136,814 | ||||||
|
| |||||||
1,147,877 | ||||||||
|
| |||||||
Building Materials — 0.6% | ||||||||
Griffon Corp. | 108,000 | 107,055 | ||||||
Summit Materials LLC / Summit Materials Finance Corp. | 165,000 | 169,950 | ||||||
|
| |||||||
277,005 | ||||||||
|
| |||||||
Electronics — 0.1% | ||||||||
Sensata Technologies BV, 144A | 45,000 | 46,406 | ||||||
|
| |||||||
Engineering & Construction — 0.2% | ||||||||
MasTec, Inc. | 66,000 | 66,413 | ||||||
|
| |||||||
Environmental Control — 0.1% | ||||||||
GFL Environmental, Inc., 144A | 45,000 | 42,609 | ||||||
|
| |||||||
Packaging & Containers — 3.4% | ||||||||
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc., 144A | 200,000 | 202,000 |
See Notes to Financial Statements. | 46 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Packaging & Containers (Continued) | ||||||||
Ball Corp. | $ | 139,000 | $ | 144,473 | ||||
4.00%, 11/15/23 | 112,000 | 112,560 | ||||||
Berry Global, Inc. | 45,000 | 45,731 | ||||||
6.00%, 10/15/22 | 129,000 | 132,870 | ||||||
Crown Americas LLC / Crown Americas Capital Corp. IV | 62,000 | 62,775 | ||||||
Graphic Packaging International LLC | 45,000 | 45,900 | ||||||
Owens-Brockway Glass Container, | 174,000 | 179,622 | ||||||
Reynolds Group Issuer, Inc. / Reynolds Group Issuer LLC / Reynolds Group Issuer Lu | 259,721 | 260,565 | ||||||
5.125%, 7/15/23, 144A | 156,000 | 156,195 | ||||||
Sealed Air Corp. | 61,000 | 63,745 | ||||||
4.875%, 12/01/22, 144A | 89,000 | 91,003 | ||||||
|
| |||||||
1,497,439 | ||||||||
|
| |||||||
Transportation — 0.6% | ||||||||
Hornbeck Offshore Services, Inc. | 45,000 | 24,750 | ||||||
Kenan Advantage Group, Inc., 144A | 45,000 | 44,016 | ||||||
XPO Logistics, Inc. | 117,000 | 119,486 | ||||||
6.125%, 9/01/23, 144A | 89,000 | 89,111 | ||||||
|
| |||||||
277,363 | ||||||||
|
| |||||||
Trucking & Leasing — 1.7% | ||||||||
Avolon Holdings Funding Ltd., 144A | 89,000 | 90,112 | ||||||
Fortress Transportation & Infrastructure Investors LLC, 144A | 125,000 | 127,750 | ||||||
Park Aerospace Holdings Ltd. | 200,000 | 205,242 | ||||||
4.50%, 3/15/23, 144A | 151,000 | 150,245 | ||||||
5.50%, 2/15/24, 144A | 175,000 | 181,344 | ||||||
|
| |||||||
754,693 | ||||||||
|
| |||||||
Technology — 6.0% |
| |||||||
Computers — 2.5% |
| |||||||
Dell International LLC / EMC Corp., 144A | 203,000 | 207,148 | ||||||
Dell, Inc. | 198,000 | 200,228 | ||||||
EMC Corp. | 89,000 | 88,171 | ||||||
3.375%, 6/01/23 | 125,000 | 120,113 | ||||||
Exela Intermediate LLC / Exela Finance, | 114,000 | 116,708 |
Principal | Value | |||||||
Computers (Continued) | ||||||||
Harland Clarke Holdings Corp. | $ | 156,000 | $ | 155,220 | ||||
8.375%, 8/15/22, 144A | 45,000 | 42,244 | ||||||
NCR Corp. | 89,000 | 89,435 | ||||||
6.375%, 12/15/23 | 89,000 | 90,510 | ||||||
Sungard Availability Services Capital, | 45,000 | 4,500 | ||||||
|
| |||||||
1,114,277 | ||||||||
|
| |||||||
Office/Business Equipment — 0.7% | ||||||||
CDW LLC / CDW Finance Corp. | 66,000 | 66,825 | ||||||
Pitney Bowes, Inc. | 89,000 | 84,105 | ||||||
Xerox Corp. | 178,000 | 174,885 | ||||||
|
| |||||||
325,815 | ||||||||
|
| |||||||
Semiconductors — 0.2% | ||||||||
Amkor Technology, Inc. | 72,000 | 72,720 | ||||||
|
| |||||||
Software — 2.6% | ||||||||
First Data Corp. | 163,000 | 167,178 | ||||||
5.00%, 1/15/24, 144A | 150,000 | 154,033 | ||||||
Infor US, Inc. | 134,000 | 137,151 | ||||||
Informatica LLC, 144A | 111,000 | 112,956 | ||||||
IQVIA, Inc., 144A | 112,000 | 114,240 | ||||||
Open Text Corp., 144A | 105,187 | |||||||
102,000 | ||||||||
Riverbed Technology, Inc., 144A | 54,000 | 37,665 | ||||||
TIBCO Software, Inc., 144A | 134,000 | 142,459 | ||||||
Veritas US, Inc. / Veritas Bermuda Ltd., 144A | 200,000 | 191,000 | ||||||
|
| |||||||
1,161,869 | ||||||||
|
| |||||||
Utilities — 1.6% |
| |||||||
Electric — 1.4% |
| |||||||
AES Corp. | 178,000 | 179,780 | ||||||
4.875%, 5/15/23 | 72,000 | 72,877 | ||||||
Calpine Corp. | 95,000 | 96,662 | ||||||
5.375%, 1/15/23 | 111,000 | 110,168 | ||||||
5.50%, 2/01/24 | 100,000 | 96,625 | ||||||
Talen Energy Supply LLC, 144A | 71,000 | 75,970 | ||||||
|
| |||||||
632,082 | ||||||||
|
|
See Notes to Financial Statements. | 47 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Gas — 0.2% | ||||||||
NGL Energy Partners LP / NGL Energy Finance Corp. | $ | 66,000 | $ | 68,393 | ||||
|
| |||||||
TOTAL CORPORATE BONDS | 43,061,650 | |||||||
|
| |||||||
Number | ||||||||
SECURITIES LENDING COLLATERAL — 7.3% |
| |||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 2.31% (b)(c) | 3,229,873 | 3,229,873 | ||||||
|
|
Number | Value | |||||||
CASH EQUIVALENTS — 2.0% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 2.38% (b) | 900,974 | $ | 900,974 | |||||
|
| |||||||
TOTAL INVESTMENTS — 106.3% (Cost $47,366,830) | $ | 47,192,497 | ||||||
Other assets and liabilities, net — (6.3%) | (2,781,370 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 44,411,127 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2019 is as follows:
Value ($) at 8/31/2018 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2019 | Value ($) at 2/28/2019 | ||||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL —7.3% | ||||||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares” , 2.31% (b)(c) | ||||||||||||||||||||||||||||||||||||||
2,437,670 | 792,203 | (d) | — | — | — | 18,632 | — | 3,229,873 | 3,229,873 | |||||||||||||||||||||||||||||
CASH EQUIVALENTS —2.0% | ||||||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares” , 2.38% (b) | ||||||||||||||||||||||||||||||||||||||
— | 5,236,599 | (4,335,625 | ) | — | — | 3,035 | — | 900,974 | 900,974 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||
2,437,670 | 6,028,802 | (4,335,625 | ) | — | — | 21,667 | — | 4,130,847 | 4,130,847 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2019 amounted to $3,537,264, which is 8.0% of net assets. |
(b) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualizedseven-day yield at period end. |
(c) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund heldnon-cash U.S. Treasury securities collateral having a value of $435,484. |
(d) | Represents the net increase (purchases cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2019. |
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. |
See Notes to Financial Statements. | 48 |
DBX ETF Trust
Schedule of Investments
Xtrackers Short Duration High Yield Bond ETF(Continued)
February 28, 2019 (Unaudited)
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2019 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 (e) | $ | — | $ | 43,061,650 | $ | — | $ | 43,061,650 | ||||||||
Short-Term Investments (e) | 4,130,847 | — | — | 4,130,847 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 4,130,847 | $ | 43,061,650 | $ | — | $ | 47,192,497 | ||||||||
|
|
|
|
|
|
|
|
(e) | See Schedule of Investments for additional detailed categorizations. |
See Notes to Financial Statements. | 49 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF
February 28, 2019 (Unaudited)
Principal | Value | |||||||
CORPORATE BONDS — 97.9% | ||||||||
Basic Materials — 4.6% | ||||||||
Chemicals — 2.3% | ||||||||
Ashland LLC | $ | 3,254,000 | $ | 3,355,687 | ||||
Blue Cube Spinco LLC | 1,881,000 | 2,111,893 | ||||||
10.00%, 10/15/25 | 1,696,000 | 1,950,400 | ||||||
CF Industries, Inc. | 1,882,000 | 1,954,927 | ||||||
3.45%, 6/01/23 | 2,080,000 | 2,020,200 | ||||||
Chemours Co. | 2,227,000 | 2,318,975 | ||||||
7.00%, 5/15/25 | 2,762,000 | 2,886,290 | ||||||
5.375%, 5/15/27 | 1,241,000 | 1,209,975 | ||||||
Consolidated Energy Finance SA | 1,618,000 | 1,585,640 | ||||||
6.50%, 5/15/26, 144A | 888,000 | 845,820 | ||||||
Element Solutions, Inc., 144A | 2,410,000 | 2,450,681 | ||||||
Hexion, Inc. | 4,065,000 | 3,475,575 | ||||||
10.375%, 2/01/22, 144A (a) | 1,785,000 | 1,521,712 | ||||||
Huntsman International LLC | 1,777,000 | 1,821,647 | ||||||
5.125%, 11/15/22 | 1,271,000 | 1,332,961 | ||||||
INEOS Group Holdings SA, 144A | 1,644,000 | 1,600,845 | ||||||
Momentive Performance Materials, Inc. | 3,367,000 | 3,640,569 | ||||||
NOVA Chemicals Corp. | 1,595,000 | 1,585,031 | ||||||
4.875%, 6/01/24, 144A | 3,324,000 | 3,230,762 | ||||||
5.00%, 5/01/25, 144A | 1,587,000 | 1,521,536 | ||||||
5.25%, 6/01/27, 144A | 2,965,000 | 2,798,219 | ||||||
OCI NV, 144A | 1,803,000 | 1,872,866 | ||||||
Olin Corp. | 1,184,000 | 1,198,800 | ||||||
5.00%, 2/01/30 | 1,755,000 | 1,711,125 | ||||||
Perstorp Holding AB, 144A | 920,000 | 996,188 | ||||||
PolyOne Corp. | 1,627,000 | 1,671,743 | ||||||
PQ Corp., 144A | 2,317,000 | 2,417,674 | ||||||
SPCM SA, 144A | 1,370,000 | 1,349,450 | ||||||
Starfruit Finco BV / Starfruit US Holdco LLC, 144A | 1,791,000 | 1,782,045 | ||||||
WR Grace & Co.-Conn, 144A | 1,856,000 | 1,918,900 | ||||||
|
| |||||||
60,138,136 | ||||||||
|
|
Principal | Value | |||||||
Iron/Steel — 0.7% | ||||||||
AK Steel Corp. | $ | 1,345,000 | $ | 1,361,812 | ||||
7.00%, 3/15/27 (a) | 1,219,000 | 1,030,055 | ||||||
Allegheny Technologies, Inc. | 1,471,000 | 1,519,249 | ||||||
7.875%, 8/15/23 | 1,531,000 | 1,682,646 | ||||||
Cleveland-Cliffs, Inc. | 1,202,000 | 1,202,000 | ||||||
5.75%, 3/01/25 | 3,096,000 | 3,034,080 | ||||||
Steel Dynamics, Inc. | 1,308,000 | 1,316,992 | ||||||
5.25%, 4/15/23 | 1,119,000 | 1,142,779 | ||||||
5.50%, 10/01/24 | 1,344,000 | 1,384,320 | ||||||
United States Steel Corp. | 2,354,000 | 2,330,460 | ||||||
6.25%, 3/15/26 | 1,843,000 | 1,750,850 | ||||||
|
| |||||||
17,755,243 | ||||||||
|
| |||||||
Mining — 1.6% | ||||||||
Alcoa Nederland Holding BV | 2,266,000 | 2,404,792 | ||||||
7.00%, 9/30/26, 144A | 2,134,000 | 2,294,050 | ||||||
6.125%, 5/15/28, 144A | 1,072,000 | 1,100,140 | ||||||
Aleris International, Inc., 144A | 918,000 | 959,310 | ||||||
Constellium NV | 459,000 | 451,931 | ||||||
6.625%, 3/01/25, 144A (a) | 2,952,000 | 2,981,520 | ||||||
5.875%, 2/15/26, 144A | 1,222,000 | 1,191,450 | ||||||
FMG Resources August 2006 Pty Ltd. | 2,183,000 | 2,191,186 | ||||||
5.125%, 3/15/23, 144A | 1,863,000 | 1,863,000 | ||||||
5.125%, 5/15/24, 144A (a) | 2,042,000 | 2,029,238 | ||||||
Freeport-McMoRan, Inc. | 3,002,000 | 3,010,406 | ||||||
4.00%, 11/14/21 | 2,229,000 | 2,237,359 | ||||||
3.55%, 3/01/22 | 2,501,000 | 2,479,116 | ||||||
6.875%, 2/15/23 | 3,482,000 | 3,690,920 | ||||||
3.875%, 3/15/23 | 4,546,000 | 4,491,357 | ||||||
4.55%, 11/14/24 (a) | 5,006,000 | 4,968,455 | ||||||
Hudbay Minerals, Inc. | 942,000 | 974,782 | ||||||
7.625%, 1/15/25, 144A | 2,075,000 | 2,163,188 | ||||||
Joseph T Ryerson & Son, Inc., 144A | 1,777,000 | 1,868,071 | ||||||
|
| |||||||
43,350,271 | ||||||||
|
| |||||||
Communications — 23.1% | ||||||||
Advertising — 0.4% | ||||||||
Acosta, Inc., 144A | 1,954,000 | 351,720 | ||||||
Lamar Media Corp. | 1,431,000 | 1,463,197 | ||||||
5.375%, 1/15/24 | 1,915,000 | 1,977,238 | ||||||
5.75%, 2/01/26 | 1,045,000 | 1,097,250 | ||||||
Outfront Media Capital LLC / Outfront Media Capital Corp. | 2,119,000 | 2,159,367 |
See Notes to Financial Statements. | 50 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Advertising (Continued) | ||||||||
5.625%, 2/15/24 | $ | 1,170,000 | $ | 1,202,175 | ||||
5.875%, 3/15/25 | 1,921,000 | 1,974,404 | ||||||
|
| |||||||
10,225,351 | ||||||||
|
| |||||||
Internet — 1.8% | ||||||||
Match Group, Inc., 144A | 1,131,000 | 1,124,248 | ||||||
Netflix, Inc. | 2,395,000 | 2,481,819 | ||||||
5.50%, 2/15/22 | 1,839,000 | 1,933,249 | ||||||
5.75%, 3/01/24 (a) | 295,000 | 314,314 | ||||||
5.875%, 2/15/25 | 2,872,000 | 3,051,500 | ||||||
4.375%, 11/15/26 (a) | 3,045,000 | 2,928,924 | ||||||
4.875%, 4/15/28 | 4,183,000 | 4,083,654 | ||||||
5.875%, 11/15/28, 144A | 6,126,000 | 6,395,850 | ||||||
6.375%, 5/15/29, 144A | 2,285,000 | 2,432,817 | ||||||
Symantec Corp. | 2,807,000 | 2,839,638 | ||||||
3.95%, 6/15/22 | 834,000 | 834,179 | ||||||
5.00%, 4/15/25, 144A | 3,332,000 | 3,324,583 | ||||||
VeriSign, Inc. | 2,237,000 | 2,280,756 | ||||||
5.25%, 4/01/25 | 1,237,000 | 1,285,342 | ||||||
4.75%, 7/15/27 | 1,883,000 | 1,866,524 | ||||||
Zayo Group LLC / Zayo Capital, Inc. | 4,755,000 | 4,838,212 | ||||||
6.375%, 5/15/25 | 2,672,000 | 2,661,980 | ||||||
5.75%, 1/15/27, 144A | 4,739,000 | 4,608,677 | ||||||
|
| |||||||
49,286,266 | ||||||||
|
| |||||||
Media — 10.5% | ||||||||
Altice Financing SA | 5,654,000 | 5,795,350 | ||||||
7.50%, 5/15/26, 144A | 7,751,000 | 7,518,470 | ||||||
Altice Finco SA, 144A | 862,000 | 874,930 | ||||||
Altice Luxembourg SA | 9,473,000 | 9,449,317 | ||||||
7.625%, 2/15/25, 144A (a) | 4,591,000 | 4,094,598 | ||||||
AMC Networks, Inc. | 1,317,000 | 1,338,401 | ||||||
5.00%, 4/01/24 | 2,780,000 | 2,765,238 | ||||||
4.75%, 8/01/25 | 2,644,000 | 2,575,421 | ||||||
Cable One, Inc., 144A | 1,277,000 | 1,302,540 | ||||||
Cablevision Systems Corp. | 1,392,000 | 1,461,600 | ||||||
5.875%, 9/15/22 | 1,647,000 | 1,703,101 | ||||||
CBS Radio, Inc., 144A | 1,040,000 | 1,034,800 | ||||||
CCO Holdings LLC / CCO Holdings Capital Corp. | 1,097,000 | 1,101,799 | ||||||
5.25%, 9/30/22 | 3,390,000 | 3,462,037 | ||||||
5.125%, 2/15/23 | 2,290,000 | 2,332,938 | ||||||
4.00%, 3/01/23, 144A (a) | 1,451,000 | 1,436,490 | ||||||
5.125%, 5/01/23, 144A | 4,465,000 | 4,554,747 | ||||||
5.75%, 9/01/23 | 1,219,000 | 1,244,904 |
Principal | Value | |||||||
Media (Continued) | ||||||||
5.75%, 1/15/24 | $ | 3,040,000 | $ | 3,121,700 | ||||
5.875%, 4/01/24, 144A | 4,106,000 | 4,285,638 | ||||||
5.375%, 5/01/25, 144A | 2,123,000 | 2,178,729 | ||||||
5.75%, 2/15/26, 144A | 8,007,000 | 8,264,745 | ||||||
5.50%, 5/01/26, 144A | 3,283,000 | 3,365,075 | ||||||
5.125%, 5/01/27, 144A | 9,576,000 | 9,448,352 | ||||||
5.875%, 5/01/27, 144A | 2,405,000 | 2,476,398 | ||||||
5.00%, 2/01/28, 144A | 7,993,000 | 7,708,249 | ||||||
Cengage Learning, Inc., 144A | 1,701,000 | 1,428,840 | ||||||
Clear Channel Worldwide Holdings, Inc. | 2,109,000 | 2,164,361 | ||||||
Series B, 6.50%, 11/15/22 | 5,729,000 | 5,886,548 | ||||||
9.25%, 2/15/24, 144A | 6,400,000 | 6,728,000 | ||||||
CSC Holdings LLC | 2,912,000 | 3,108,560 | ||||||
5.125%, 12/15/21, 144A | 2,021,000 | 2,032,398 | ||||||
5.125%, 12/15/21, 144A | 1,628,000 | 1,637,182 | ||||||
5.375%, 7/15/23, 144A | 1,861,000 | 1,917,202 | ||||||
5.25%, 6/01/24 | 1,982,000 | 1,986,281 | ||||||
7.75%, 7/15/25, 144A (a) | 2,465,000 | 2,637,550 | ||||||
6.625%, 10/15/25, 144A | 4,098,000 | 4,333,635 | ||||||
10.875%, 10/15/25, 144A | 4,978,000 | 5,786,925 | ||||||
5.50%, 5/15/26, 144A | 3,488,000 | 3,535,960 | ||||||
5.50%, 4/15/27, 144A | 3,519,000 | 3,535,680 | ||||||
5.375%, 2/01/28, 144A | 3,830,000 | 3,772,550 | ||||||
7.50%, 4/01/28, 144A | 3,045,000 | 3,227,700 | ||||||
6.50%, 2/01/29, 144A | 5,100,000 | 5,345,489 | ||||||
DISH DBS Corp. | 3,680,000 | 3,716,800 | ||||||
6.75%, 6/01/21 | 5,443,000 | 5,579,075 | ||||||
5.875%, 7/15/22 | 5,961,000 | 5,715,109 | ||||||
5.00%, 3/15/23 | 4,035,000 | 3,606,281 | ||||||
5.875%, 11/15/24 | 6,342,000 | 5,365,015 | ||||||
7.75%, 7/01/26 | 6,088,000 | 5,281,340 | ||||||
Gray Television, Inc. | 1,537,000 | 1,535,079 | ||||||
5.875%, 7/15/26, 144A | 2,300,000 | 2,328,750 | ||||||
7.00%, 5/15/27, 144A | 2,144,000 | 2,272,640 | ||||||
Meredith Corp. | 4,039,000 | 4,191,674 | ||||||
Nexstar Broadcasting, Inc. | 1,123,000 | 1,151,075 | ||||||
5.625%, 8/01/24, 144A | 2,653,000 | 2,639,735 | ||||||
Quebecor Media, Inc. | 2,543,000 | 2,647,104 | ||||||
Sinclair Television Group, Inc. | 959,000 | 962,596 | ||||||
6.125%, 10/01/22 | 1,696,000 | 1,737,891 | ||||||
5.625%, 8/01/24, 144A | 2,333,000 | 2,359,246 | ||||||
5.125%, 2/15/27, 144A | 960,000 | 904,800 | ||||||
Sirius XM Radio, Inc. | 2,867,000 | 2,870,584 | ||||||
4.625%, 5/15/23, 144A | 1,243,000 | 1,263,199 | ||||||
6.00%, 7/15/24, 144A | 4,476,000 | 4,655,040 | ||||||
5.375%, 4/15/25, 144A | 2,666,000 | 2,726,818 |
See Notes to Financial Statements. | 51 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Media (Continued) | ||||||||
5.375%, 7/15/26, 144A | $ | 3,441,000 | $ | 3,462,506 | ||||
5.00%, 8/01/27, 144A | 4,569,000 | 4,483,331 | ||||||
TEGNA, Inc. | 300,000 | 303,375 | ||||||
6.375%, 10/15/23 | 2,687,000 | 2,787,763 | ||||||
Telenet Finance Luxembourg Notes Sarl, 144A | 2,800,000 | 2,709,000 | ||||||
Tribune Media Co. | 3,831,000 | 3,917,198 | ||||||
Unitymedia GmbH, 144A | 2,599,000 | 2,702,960 | ||||||
Unitymedia Hessen GmbH & Co. KG / Unitymedia NRW GmbH, 144A | 2,507,000 | 2,579,076 | ||||||
Univision Communications, Inc. | 3,010,000 | 2,739,100 | ||||||
5.125%, 2/15/25, 144A | 4,801,000 | 4,212,878 | ||||||
UPC Holding BV, 144A | 2,137,000 | 2,201,110 | ||||||
UPCB Finance IV Ltd., 144A | 3,306,000 | 3,388,650 | ||||||
Videotron Ltd. | 2,688,000 | 2,758,560 | ||||||
5.375%, 6/15/24, 144A | 2,098,000 | 2,190,207 | ||||||
5.125%, 4/15/27, 144A | 1,221,000 | 1,242,368 | ||||||
Virgin Media Finance PLC | 1,514,000 | 1,559,420 | ||||||
5.75%, 1/15/25, 144A | 775,000 | 774,031 | ||||||
Virgin Media Secured Finance PLC | 1,190,000 | 1,219,334 | ||||||
5.50%, 1/15/25, 144A | 1,723,000 | 1,755,306 | ||||||
5.25%, 1/15/26, 144A | 2,529,000 | 2,541,114 | ||||||
5.50%, 8/15/26, 144A | 1,669,000 | 1,664,828 | ||||||
Ziggo Bond Co. BV | 1,213,000 | 1,182,311 | ||||||
6.00%, 1/15/27, 144A | 1,779,000 | 1,690,050 | ||||||
Ziggo BV, 144A | 5,766,000 | 5,578,605 | ||||||
|
| |||||||
277,113,360 | ||||||||
|
| |||||||
Telecommunications — 10.4% | ||||||||
Altice France SA | 4,148,000 | 4,163,555 | ||||||
7.375%, 5/01/26, 144A | 15,274,000 | 15,025,797 | ||||||
8.125%, 2/01/27, 144A | 5,055,000 | 5,092,912 | ||||||
Anixter, Inc. | 1,304,000 | 1,341,490 | ||||||
C&W Senior Financing Dac, 144A | 1,610,000 | 1,646,225 | ||||||
C&W Senior Financing DAC, 144A | 1,906,000 | 1,877,410 | ||||||
CenturyLink, Inc. | 3,547,000 | 3,614,570 | ||||||
Series S, 6.45%, 6/15/21 | 3,385,000 | 3,524,462 | ||||||
Series T, 5.80%, 3/15/22 | 3,801,000 | 3,919,781 | ||||||
Series W, 6.75%, 12/01/23 (a) | 2,228,000 | 2,319,214 |
Principal | Value | |||||||
Telecommunications (Continued) | ||||||||
Series Y, 7.50%, 4/01/24 (a) | $ | 3,035,000 | $ | 3,218,048 | ||||
5.625%, 4/01/25 | 1,558,000 | 1,489,386 | ||||||
Cincinnati Bell, Inc., 144A | 1,971,000 | 1,793,610 | ||||||
Commscope Finance LLC, 144A | 2,700,000 | 2,808,000 | ||||||
CommScope Finance LLC | 3,600,000 | 3,673,620 | ||||||
6.00%, 3/01/26, 144A | 4,300,000 | 4,407,500 | ||||||
CommScope Technologies LLC | 4,635,000 | 4,391,662 | ||||||
5.00%, 3/15/27, 144A | 1,993,000 | 1,789,315 | ||||||
CommScope, Inc. | 1,810,000 | 1,819,050 | ||||||
5.50%, 6/15/24, 144A | 2,075,000 | 1,999,781 | ||||||
Consolidated Communications, Inc. | 1,652,000 | 1,548,750 | ||||||
DKT Finance ApS, 144A | 853,000 | 919,107 | ||||||
Frontier Communications Corp. | 1,590,000 | 1,093,125 | ||||||
10.50%, 9/15/22 (a) | 5,904,000 | 4,250,880 | ||||||
7.125%, 1/15/23 | 2,211,000 | 1,315,545 | ||||||
7.625%, 4/15/24 | 1,577,000 | 898,890 | ||||||
6.875%, 1/15/25 (a) | 2,991,000 | 1,630,095 | ||||||
11.00%, 9/15/25 | 10,748,000 | 6,919,025 | ||||||
8.50%, 4/01/26, 144A | 5,100,000 | 4,755,750 | ||||||
GTH Finance BV | 1,496,000 | 1,524,176 | ||||||
7.25%, 4/26/23, 144A | 2,541,000 | 2,711,107 | ||||||
GTT Communications, Inc., 144A | 1,704,000 | 1,478,220 | ||||||
Hughes Satellite Systems Corp. | 2,077,000 | 2,232,775 | ||||||
5.25%, 8/01/26 | 2,108,000 | 2,068,475 | ||||||
6.625%, 8/01/26 | 2,343,000 | 2,310,784 | ||||||
Inmarsat Finance PLC | 2,685,000 | 2,698,425 | ||||||
6.50%, 10/01/24, 144A | 1,366,000 | 1,362,585 | ||||||
Intelsat Connect Finance SA, 144A | 3,665,000 | 3,564,212 | ||||||
Intelsat Jackson Holdings SA | 2,664,000 | 3,096,900 | ||||||
5.50%, 8/01/23 | 5,596,000 | 5,134,330 | ||||||
8.00%, 2/15/24, 144A | 3,800,000 | 3,975,750 | ||||||
8.50%, 10/15/24, 144A | 7,418,000 | 7,527,045 | ||||||
9.75%, 7/15/25, 144A | 4,913,000 | 5,121,802 | ||||||
Intelsat Luxembourg SA | 1,489,000 | 1,459,220 | ||||||
8.125%, 6/01/23 | 3,052,000 | 2,563,680 | ||||||
Level 3 Financing, Inc. | 1,016,000 | 1,022,655 | ||||||
5.375%, 8/15/22 | 3,264,000 | 3,292,560 | ||||||
5.625%, 2/01/23 | 2,361,000 | 2,384,610 | ||||||
5.125%, 5/01/23 | 2,279,000 | 2,301,995 | ||||||
5.375%, 1/15/24 | 3,034,000 | 3,056,755 | ||||||
5.375%, 5/01/25 | 2,145,000 | 2,145,000 |
See Notes to Financial Statements. | 52 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Telecommunications (Continued) | ||||||||
5.25%, 3/15/26 | $ | 2,560,000 | $ | 2,515,200 | ||||
Level 3 Parent LLC | 1,717,000 | 1,740,609 | ||||||
Nokia OYJ | 1,971,000 | 1,935,916 | ||||||
4.375%, 6/12/27 | 1,200,000 | 1,182,144 | ||||||
Qwest Corp. | 2,052,000 | 2,190,100 | ||||||
Sable International Finance Ltd., 144A | 1,287,000 | 1,341,698 | ||||||
Sprint Communications, Inc. | 2,509,000 | 2,596,815 | ||||||
7.00%, 8/15/20 | 4,670,000 | 4,879,683 | ||||||
11.50%, 11/15/21 | 3,899,000 | 4,561,050 | ||||||
6.00%, 11/15/22 | 6,741,000 | 6,855,597 | ||||||
Sprint Corp. | 7,454,000 | 7,891,923 | ||||||
7.875%, 9/15/23 | 10,180,000 | 10,920,697 | ||||||
7.125%, 6/15/24 | 7,469,000 | 7,711,743 | ||||||
7.625%, 2/15/25 | 5,361,000 | 5,629,050 | ||||||
7.625%, 3/01/26 | 4,488,000 | 4,667,520 | ||||||
Telecom Italia SpA, 144A | 4,402,000 | 4,319,463 | ||||||
Telefonaktiebolaget LM Ericsson | 2,956,000 | 2,989,963 | ||||||
T-Mobile USA, Inc. | 1,266,000 | 1,272,330 | ||||||
6.00%, 3/01/23 | 3,741,000 | 3,853,230 | ||||||
6.50%, 1/15/24 | 2,525,000 | 2,626,000 | ||||||
6.00%, 4/15/24 | 4,366,000 | 4,546,098 | ||||||
6.375%, 3/01/25 | 5,364,000 | 5,595,323 | ||||||
5.125%, 4/15/25 | 1,246,000 | 1,282,212 | ||||||
6.50%, 1/15/26 | 5,503,000 | 5,895,089 | ||||||
4.50%, 2/01/26 | 2,624,000 | 2,594,454 | ||||||
5.375%, 4/15/27 | 1,272,000 | 1,310,160 | ||||||
4.75%, 2/01/28 | 4,489,000 | 4,376,326 | ||||||
VEON Holdings BV | 1,849,000 | 1,821,265 | ||||||
5.95%, 2/13/23, 144A | 1,496,000 | 1,546,370 | ||||||
4.95%, 6/16/24, 144A | 1,296,000 | 1,273,320 | ||||||
Wind Tre SpA, 144A | 6,018,000 | 5,219,411 | ||||||
WTT Investment Ltd., 144A | 1,744,000 | 1,731,341 | ||||||
|
| |||||||
275,151,716 | ||||||||
|
| |||||||
Consumer, Cyclical — 12.4% | ||||||||
Airlines — 0.1% | ||||||||
Air Canada, 144A | 1,350,000 | 1,451,250 | ||||||
American Airlines Group, Inc., 144A | 1,453,000 | 1,467,530 | ||||||
United Continental Holdings, Inc. | 655,000 | 654,181 | ||||||
|
| |||||||
3,572,961 | ||||||||
|
|
Principal | Value | |||||||
Apparel — 0.2% | ||||||||
Hanesbrands, Inc. | $ | 2,893,000 | $ | 2,904,283 | ||||
4.875%, 5/15/26, 144A | 2,356,000 | 2,332,440 | ||||||
Levi Strauss & Co. | 1,488,000 | 1,525,200 | ||||||
|
| |||||||
6,761,923 | ||||||||
|
| |||||||
Auto Manufacturers — 1.0% | ||||||||
Allison Transmission, Inc. | 3,049,000 | 3,079,490 | ||||||
4.75%, 10/01/27, 144A | 949,000 | 913,412 | ||||||
Fiat Chrysler Automobiles NV | 5,314,000 | 5,367,140 | ||||||
5.25%, 4/15/23 | 3,871,000 | 3,942,614 | ||||||
Jaguar Land Rover Automotive PLC | 1,699,000 | 1,683,624 | ||||||
5.625%, 2/01/23, 144A (a) | 1,187,000 | 1,149,906 | ||||||
4.50%, 10/01/27, 144A (a) | 1,702,000 | 1,331,645 | ||||||
Navistar International Corp., 144A | 3,115,000 | 3,227,233 | ||||||
Tesla, Inc., 144A | 5,157,000 | 4,609,069 | ||||||
|
| |||||||
25,304,133 | ||||||||
|
| |||||||
Auto Parts & Equipment — 0.7% | ||||||||
Adient Global Holdings Ltd., 144A | 2,604,000 | 2,005,080 | ||||||
American Axle & Manufacturing, Inc. | 1,450,000 | 1,488,062 | ||||||
6.25%, 4/01/25 (a) | 1,945,000 | 1,947,626 | ||||||
6.25%, 3/15/26 | 1,000,000 | 982,300 | ||||||
6.50%, 4/01/27 (a) | 1,547,000 | 1,533,464 | ||||||
Dana, Inc. | 1,127,000 | 1,122,774 | ||||||
Goodyear Tire & Rubber Co. | 2,730,000 | 2,733,412 | ||||||
5.00%, 5/31/26 (a) | 2,847,000 | 2,708,209 | ||||||
4.875%, 3/15/27 (a) | 1,953,000 | 1,804,084 | ||||||
Tenneco, Inc. | 1,434,000 | 1,233,240 | ||||||
|
| |||||||
17,558,251 | ||||||||
|
| |||||||
Distribution/Wholesale — 0.4% | ||||||||
American Builders & Contractors Supply Co., Inc., 144A | 1,516,000 | 1,546,320 | ||||||
Core & Main LP, 144A | 1,409,000 | 1,363,207 | ||||||
HD Supply, Inc., 144A | 2,209,000 | 2,253,180 | ||||||
KAR Auction Services, Inc., 144A | 2,555,000 | 2,497,513 | ||||||
LKQ Corp. | 1,983,000 | 2,002,830 | ||||||
|
| |||||||
9,663,050 | ||||||||
|
|
See Notes to Financial Statements. | 53 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Entertainment — 1.8% | ||||||||
AMC Entertainment Holdings, Inc. | $ | 1,644,000 | $ | 1,522,755 | ||||
5.875%, 11/15/26 | 1,570,000 | 1,417,082 | ||||||
6.125%, 5/15/27 | 1,508,000 | 1,359,085 | ||||||
Caesars Resort Collection LLC / CRC Finco, Inc., 144A | 4,906,000 | 4,666,832 | ||||||
Cinemark USA, Inc. | 930,000 | 947,437 | ||||||
4.875%, 6/01/23 | 2,846,000 | 2,849,557 | ||||||
Cirsa Finance International Sarl, 144A | 1,666,000 | 1,711,815 | ||||||
Eldorado Resorts, Inc. | 2,741,000 | 2,802,947 | ||||||
6.00%, 9/15/26, 144A | 1,555,000 | 1,589,988 | ||||||
International Game Technology PLC | 5,301,000 | 5,566,050 | ||||||
6.50%, 2/15/25, 144A (a) | 2,986,000 | 3,191,288 | ||||||
6.25%, 1/15/27, 144A | 2,015,000 | 2,101,897 | ||||||
Live Nation Entertainment, Inc., 144A | 1,603,000 | 1,594,985 | ||||||
Merlin Entertainments PLC, 144A | 942,000 | 976,148 | ||||||
Mohegan Gaming & Entertainment, 144A | 1,870,000 | 1,841,950 | ||||||
Scientific Games International, Inc. | 6,202,000 | 6,543,110 | ||||||
5.00%, 10/15/25, 144A | 3,817,000 | 3,707,261 | ||||||
Six Flags Entertainment Corp. | 2,896,000 | 2,859,800 | ||||||
5.50%, 4/15/27, 144A | 1,286,000 | 1,266,710 | ||||||
|
| |||||||
48,516,697 | ||||||||
|
| |||||||
Food Service — 0.3% | ||||||||
Aramark Services, Inc. | 2,819,000 | 2,889,475 | ||||||
5.00%, 4/01/25, 144A | 1,038,000 | 1,058,760 | ||||||
4.75%, 6/01/26 | 2,004,000 | 1,993,980 | ||||||
5.00%, 2/01/28, 144A | 3,446,000 | 3,411,540 | ||||||
|
| |||||||
9,353,755 | ||||||||
|
| |||||||
Home Builders — 1.5% | ||||||||
Beazer Homes USA, Inc. | 1,756,000 | 1,828,435 | ||||||
5.875%, 10/15/27 | 1,082,000 | 949,455 | ||||||
Brookfield Residential Properties, Inc., 144A | 1,695,000 | 1,701,356 | ||||||
K Hovnanian Enterprises, Inc. | 1,327,000 | 1,071,552 | ||||||
10.50%, 7/15/24, 144A (a) | 1,112,000 | 783,960 | ||||||
KB Home | 883,000 | 937,084 | ||||||
Lennar Corp. | 2,052,000 | 2,098,170 | ||||||
4.125%, 1/15/22 | 1,473,000 | 1,471,159 | ||||||
4.75%, 11/15/22 | 1,799,000 | 1,845,662 |
Principal | Value | |||||||
Home Builders (Continued) | ||||||||
4.875%, 12/15/23 | $ | 555,000 | $ | 565,406 | ||||
4.50%, 4/30/24 | 2,296,000 | 2,284,520 | ||||||
5.875%, 11/15/24 | 1,387,000 | 1,461,551 | ||||||
4.75%, 5/30/25 | 1,518,000 | 1,529,859 | ||||||
5.25%, 6/01/26 | 165,000 | 166,237 | ||||||
4.75%, 11/29/27 | 3,004,000 | 2,928,900 | ||||||
Mattamy Group Corp. | 1,304,000 | 1,300,740 | ||||||
6.50%, 10/01/25, 144A | 1,250,000 | 1,207,422 | ||||||
Meritage Homes Corp. | 1,102,000 | 1,137,815 | ||||||
PulteGroup, Inc. | 1,829,000 | 1,849,576 | ||||||
5.50%, 3/01/26 | 1,726,000 | 1,745,418 | ||||||
5.00%, 1/15/27 | 2,539,000 | 2,440,614 | ||||||
Taylor Morrison Communities, Inc. | 546,000 | 563,745 | ||||||
Taylor Morrison Communities, Inc. / Taylor Morrison Holdings II, Inc., 144A | 1,174,000 | 1,179,870 | ||||||
Toll Brothers Finance Corp. | 1,268,000 | 1,336,155 | ||||||
4.375%, 4/15/23 | 1,213,000 | 1,218,459 | ||||||
4.875%, 3/15/27 | 1,251,000 | 1,232,235 | ||||||
4.35%, 2/15/28 | 1,264,000 | 1,192,900 | ||||||
William Lyon Homes, Inc. | 1,466,000 | 1,326,730 | ||||||
|
| |||||||
39,354,985 | ||||||||
|
| |||||||
Home Furnishings — 0.1% | ||||||||
Tempur Sealy International, Inc. | 1,178,000 | 1,192,725 | ||||||
5.50%, 6/15/26 | 1,946,000 | 1,948,433 | ||||||
|
| |||||||
3,141,158 | ||||||||
|
| |||||||
Housewares — 0.0% | ||||||||
ScottsMiracle-Gro Co. | 1,051,000 | 1,087,785 | ||||||
|
| |||||||
Leisure Time — 0.4% | ||||||||
24 Hour Fitness Worldwide, Inc., 144A | 1,848,000 | 1,820,280 | ||||||
Carlson Travel, Inc., 144A | 923,000 | 918,385 | ||||||
NCL Corp. Ltd., 144A | 1,242,000 | 1,266,430 | ||||||
Sabre GLBL, Inc. | 1,089,000 | 1,116,225 | ||||||
5.25%, 11/15/23, 144A | 1,727,000 | 1,770,175 | ||||||
Viking Cruises Ltd., 144A | 2,910,000 | 2,811,788 | ||||||
|
| |||||||
9,703,283 | ||||||||
|
| |||||||
Lodging — 2.4% | ||||||||
Boyd Gaming Corp. | 2,545,000 | 2,669,069 | ||||||
6.375%, 4/01/26 | 2,760,000 | 2,887,650 | ||||||
6.00%, 8/15/26 | 1,856,000 | 1,910,520 |
See Notes to Financial Statements. | 54 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Lodging (Continued) | ||||||||
Diamond Resorts International, Inc. | $ | 1,438,000 | $ | 1,448,785 | ||||
10.75%, 9/01/24, 144A (a) | 2,092,000 | 1,997,860 | ||||||
Hilton Domestic Operating Co., Inc. | 3,154,000 | 3,118,517 | ||||||
5.125%, 5/01/26, 144A | 4,685,000 | 4,720,137 | ||||||
Hilton Worldwide Finance LLC / Hilton Worldwide Finance Corp. | 2,526,000 | 2,519,685 | ||||||
4.875%, 4/01/27 | 1,456,000 | 1,454,180 | ||||||
Jack Ohio Finance LLC / Jack Ohio Finance 1 Corp., 144A | 2,090,000 | 2,157,925 | ||||||
Melco Resorts Finance Ltd., 144A | 1,894,000 | 1,828,877 | ||||||
MGM Resorts International | 2,772,000 | 2,828,133 | ||||||
6.75%, 10/01/20 | 1,413,000 | 1,476,585 | ||||||
6.625%, 12/15/21 | 4,032,000 | 4,304,160 | ||||||
7.75%, 3/15/22 | 2,046,000 | 2,250,600 | ||||||
6.00%, 3/15/23 | 3,068,000 | 3,217,565 | ||||||
5.75%, 6/15/25 | 3,304,000 | 3,378,340 | ||||||
4.625%, 9/01/26 | 2,076,000 | 1,982,580 | ||||||
Station Casinos LLC, 144A | 1,696,000 | 1,651,480 | ||||||
Studio City Co. Ltd., 144A | 2,773,000 | 2,884,752 | ||||||
Wyndham Destinations, Inc. | 1,742,000 | 1,737,732 | ||||||
3.90%, 3/01/23 | 1,053,000 | 1,026,017 | ||||||
5.75%, 4/01/27 | 1,126,000 | 1,121,778 | ||||||
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp. | 1,429,000 | 1,416,496 | ||||||
5.50%, 3/01/25, 144A | 5,279,000 | 5,273,985 | ||||||
5.25%, 5/15/27, 144A | 2,678,000 | 2,565,022 | ||||||
|
| |||||||
63,828,430 | ||||||||
|
| |||||||
Retail — 3.2% | ||||||||
1011778 BC ULC / New Red Finance, Inc. | 4,200,000 | 4,226,250 | ||||||
4.25%, 5/15/24, 144A | 4,234,000 | 4,133,443 | ||||||
5.00%, 10/15/25, 144A | 7,985,000 | 7,750,441 | ||||||
Asbury Automotive Group, Inc. | 2,051,000 | 2,092,020 | ||||||
Beacon Roofing Supply, Inc., 144A | 4,379,000 | 4,092,997 | ||||||
Ferrellgas LP / Ferrellgas Finance Corp. | 1,423,000 | 1,280,700 | ||||||
6.75%, 1/15/22 (a) | 1,832,000 | 1,639,640 | ||||||
6.75%, 6/15/23 (a) | 1,098,000 | 988,200 | ||||||
Golden Nugget, Inc. | 3,580,000 | 3,606,850 | ||||||
8.75%, 10/01/25, 144A | 2,269,000 | 2,342,742 | ||||||
Group 1 Automotive, Inc. | 1,891,000 | 1,907,546 | ||||||
IRB Holding Corp., 144A | 1,385,000 | 1,312,287 |
Principal | Value | |||||||
Retail (Continued) | ||||||||
JC Penney Corp., Inc. | $ | 1,352,000 | $ | 1,162,720 | ||||
8.625%, 3/15/25, 144A | 1,150,000 | 690,000 | ||||||
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC | 3,535,000 | 3,581,839 | ||||||
5.25%, 6/01/26, 144A | 3,226,000 | 3,290,520 | ||||||
4.75%, 6/01/27, 144A | 1,952,000 | 1,927,600 | ||||||
L Brands, Inc. | 3,914,000 | 4,090,130 | ||||||
5.625%, 2/15/22 | 1,315,000 | 1,341,300 | ||||||
5.625%, 10/15/23 (a) | 1,944,000 | 1,939,140 | ||||||
6.694%, 1/15/27 | 823,000 | 783,907 | ||||||
5.25%, 2/01/28 | 574,000 | 497,227 | ||||||
Michaels Stores, Inc., 144A | 1,326,000 | 1,330,310 | ||||||
Neiman Marcus Group Ltd. LLC, 144A | 2,731,000 | 1,433,775 | ||||||
Penske Automotive Group, Inc. | 1,358,000 | 1,385,160 | ||||||
5.50%, 5/15/26 | 1,489,000 | 1,466,591 | ||||||
PetSmart, Inc. | 5,889,000 | 4,019,242 | ||||||
5.875%, 6/01/25, 144A | 4,241,000 | 3,392,800 | ||||||
8.875%, 6/01/25, 144A (a) | 1,687,000 | 1,147,160 | ||||||
QVC, Inc. | 346,000 | 360,743 | ||||||
4.375%, 3/15/23 | 2,354,000 | 2,376,310 | ||||||
4.85%, 4/01/24 | 2,131,000 | 2,147,092 | ||||||
4.45%, 2/15/25 | 1,621,000 | 1,579,539 | ||||||
Rite Aid Corp., 144A | 5,355,000 | 4,585,219 | ||||||
Staples, Inc., 144A | 2,976,000 | 2,931,360 | ||||||
Suburban Propane Partners LP/Suburban Energy Finance Corp. | 2,066,000 | 2,050,505 | ||||||
|
| |||||||
84,883,305 | ||||||||
|
| |||||||
Storage / Warehousing — 0.1% | ||||||||
Algeco Global Finance PLC, 144A | 1,529,000 | 1,532,822 | ||||||
|
| |||||||
Toys/Games/Hobbies — 0.2% | ||||||||
Mattel, Inc., 144A | 4,277,000 | 4,218,191 | ||||||
|
| |||||||
Consumer,Non-cyclical — 18.1% | ||||||||
Agriculture — 0.1% | ||||||||
Vector Group Ltd., 144A | 2,578,000 | 2,294,420 | ||||||
|
| |||||||
Commercial Services — 4.2% | ||||||||
ADT Security Corp. | 2,826,000 | 2,988,495 | ||||||
3.50%, 7/15/22 | 3,707,000 | 3,660,662 | ||||||
4.125%, 6/15/23 | 1,793,000 | 1,763,864 | ||||||
Ahern Rentals, Inc., 144A | 1,808,000 | 1,676,920 |
See Notes to Financial Statements. | 55 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Commercial Services (Continued) | ||||||||
APX Group, Inc. | $ | 1,844,000 | $ | 1,841,695 | ||||
7.875%, 12/01/22 | 3,075,000 | 3,067,312 | ||||||
7.625%, 9/01/23 (a) | 896,000 | 794,080 | ||||||
Avis Budget Car Rental LLC / Avis Budget Finance, Inc. | 2,115,000 | 2,146,725 | ||||||
Brink’s Co., 144A | 1,738,000 | 1,659,790 | ||||||
Gartner, Inc., 144A | 2,410,000 | 2,434,100 | ||||||
Herc Rentals, Inc. | 1,262,000 | 1,321,945 | ||||||
7.75%, 6/01/24, 144A (a) | 993,000 | 1,064,049 | ||||||
Hertz Corp. | 1,869,000 | 1,869,000 | ||||||
7.375%, 1/15/21 (a) | 1,830,000 | 1,833,431 | ||||||
7.625%, 6/01/22, 144A | 3,920,000 | 4,018,000 | ||||||
6.25%, 10/15/22 | 1,416,000 | 1,348,740 | ||||||
5.50%, 10/15/24, 144A | 2,297,000 | 1,963,935 | ||||||
Jaguar Holding Co. II / Pharmaceutical Product Development LLC, 144A | 3,152,000 | 3,183,520 | ||||||
Laureate Education, Inc., 144A | 2,338,000 | 2,536,730 | ||||||
Monitronics International, Inc. | 954,000 | 233,730 | ||||||
Nielsen Co. Luxembourg SARL | 1,848,000 | 1,868,790 | ||||||
5.00%, 2/01/25, 144A (a) | 1,672,000 | 1,659,460 | ||||||
Nielsen Finance LLC / Nielsen Finance Co. | 2,302,000 | 2,307,755 | ||||||
5.00%, 4/15/22, 144A | 6,766,000 | 6,782,915 | ||||||
Prime Security Services Borrower LLC / Prime Finance, Inc., 144A | 6,250,000 | 6,606,250 | ||||||
Refinitiv US Holdings, Inc. | 3,594,000 | 3,634,433 | ||||||
8.25%, 11/15/26, 144A | 4,684,000 | 4,594,711 | ||||||
Service Corp. International | 749,000 | 758,363 | ||||||
5.375%, 5/15/24 | 3,121,000 | 3,199,025 | ||||||
4.625%, 12/15/27 | 1,777,000 | 1,761,451 | ||||||
ServiceMaster Co. LLC, 144A | 2,358,000 | 2,375,685 | ||||||
Star Merger Sub, Inc. | 2,000,000 | 2,010,670 | ||||||
10.25%, 2/15/27, 144A | 2,200,000 | 2,268,750 | ||||||
Team Health Holdings, Inc., 144A | 2,562,000 | 2,056,005 | ||||||
United Rentals North America, Inc. | 1,921,000 | 1,965,183 | ||||||
5.75%, 11/15/24 | 3,212,000 | 3,320,405 | ||||||
5.50%, 7/15/25 | 3,038,000 | 3,113,950 | ||||||
4.625%, 10/15/25 | 2,812,000 | 2,741,700 | ||||||
5.875%, 9/15/26 | 3,892,000 | 3,994,165 |
Principal | Value | |||||||
Commercial Services (Continued) | ||||||||
6.50%, 12/15/26 | $ | 2,519,000 | $ | 2,635,504 | ||||
5.50%, 5/15/27 | 3,255,000 | 3,263,138 | ||||||
4.875%, 1/15/28 | 3,672,000 | 3,511,350 | ||||||
Verscend Escrow Corp., 144A | 3,232,000 | 3,316,840 | ||||||
WEX, Inc., 144A | 1,081,000 | 1,075,595 | ||||||
|
| |||||||
112,228,816 | ||||||||
|
| |||||||
Cosmetics/Personal Care — 0.5% | ||||||||
Avon International Operations, Inc., 144A | 480,000 | 496,800 | ||||||
Avon Products, Inc. | 1,263,000 | 1,289,839 | ||||||
7.00%, 3/15/23 | 1,208,000 | 1,165,720 | ||||||
Coty, Inc., 144A | 1,621,000 | 1,566,210 | ||||||
Edgewell Personal Care Co. | 1,588,000 | 1,613,805 | ||||||
4.70%, 5/24/22 | 2,185,000 | 2,206,479 | ||||||
First Quality Finance Co., Inc. | 1,891,000 | 1,900,455 | ||||||
5.00%, 7/01/25, 144A | 899,000 | 881,020 | ||||||
Revlon Consumer Products Corp. | 1,535,000 | 1,339,287 | ||||||
6.25%, 8/01/24 (a) | 1,152,000 | 671,040 | ||||||
|
| |||||||
13,130,655 | ||||||||
|
| |||||||
Food — 2.2% | ||||||||
Albertsons Cos. LLC / Safeway, Inc. / New Albertsons LP / Albertson’s LLC | 3,528,000 | 3,545,640 | ||||||
5.75%, 3/15/25 | 4,374,000 | 4,177,170 | ||||||
7.50%, 3/15/26, 144A | 1,400,000 | 1,449,000 | ||||||
B&G Foods, Inc. | 826,000 | 827,807 | ||||||
5.25%, 4/01/25 (a) | 3,052,000 | 2,926,105 | ||||||
Darling Ingredients, Inc. | 1,849,000 | 1,874,424 | ||||||
JBS Investments GmbH | 1,517,000 | 1,536,357 | ||||||
7.25%, 4/03/24, 144A (a) | 2,723,000 | 2,823,097 | ||||||
JBS USA LUX SA / JBS USA Finance, Inc. | 1,547,000 | 1,566,337 | ||||||
5.875%, 7/15/24, 144A | 1,650,000 | 1,702,387 | ||||||
5.75%, 6/15/25, 144A | 2,864,000 | 2,910,540 | ||||||
6.75%, 2/15/28, 144A | 2,730,000 | 2,832,375 | ||||||
Lamb Weston Holdings, Inc. | 2,508,000 | 2,526,810 | ||||||
4.875%, 11/01/26, 144A | 2,320,000 | 2,334,500 | ||||||
Pilgrim’s Pride Corp. | 3,007,000 | 3,014,518 | ||||||
5.875%, 9/30/27, 144A | 2,666,000 | 2,626,010 | ||||||
Post Holdings, Inc. | 2,829,000 | 2,846,681 | ||||||
5.00%, 8/15/26, 144A | 5,053,000 | 4,882,461 |
See Notes to Financial Statements. | 56 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Food (Continued) | ||||||||
5.75%, 3/01/27, 144A | $ | 3,797,000 | $ | 3,754,284 | ||||
5.625%, 1/15/28, 144A | 2,764,000 | 2,681,080 | ||||||
Sigma Holdco BV, 144A | 1,505,000 | 1,388,363 | ||||||
TreeHouse Foods, Inc., 144A | 1,611,000 | 1,665,371 | ||||||
US Foods, Inc., 144A | 1,657,000 | 1,688,069 | ||||||
|
| |||||||
57,579,386 | ||||||||
|
| |||||||
Healthcare-Products — 1.3% | ||||||||
Avantor, Inc. | 4,343,000 | 4,443,432 | ||||||
9.00%, 10/01/25, 144A | 6,035,000 | 6,480,081 | ||||||
Hill-Rom Holdings, Inc., 144A | 974,000 | 1,006,872 | ||||||
Hologic, Inc. | 2,771,000 | 2,736,363 | ||||||
4.625%, 2/01/28, 144A | 1,533,000 | 1,487,010 | ||||||
Kinetic Concepts, Inc. / KCI USA, Inc. | 961,175 | 982,801 | ||||||
12.50%, 11/01/21, 144A | 1,448,000 | 1,571,080 | ||||||
Mallinckrodt International Finance SA | 1,173,000 | 955,995 | ||||||
Mallinckrodt International Finance SA / Mallinckrodt CB LLC | 2,213,000 | 2,213,221 | ||||||
5.75%, 8/01/22, 144A (a) | 2,701,000 | 2,552,445 | ||||||
5.625%, 10/15/23, 144A (a) | 2,424,000 | 2,132,369 | ||||||
5.50%, 4/15/25, 144A (a) | 1,854,000 | 1,519,705 | ||||||
Ortho-Clinical Diagnostics, Inc. / Ortho-Clinical Diagnostics SA, 144A | 3,910,000 | 3,782,925 | ||||||
Sotera Health Holdings LLC, 144A | 805,000 | 813,050 | ||||||
Teleflex, Inc. | 1,164,000 | 1,184,370 | ||||||
4.625%, 11/15/27 | 1,571,000 | 1,565,219 | ||||||
|
| |||||||
35,426,938 | ||||||||
|
| |||||||
Healthcare-Services — 6.9% | ||||||||
Acadia Healthcare Co., Inc. | 2,171,000 | 2,165,572 | ||||||
AHP Health Partners, Inc., 144A | 1,214,000 | 1,280,770 | ||||||
Catalent Pharma Solutions, Inc., 144A | 1,137,000 | 1,131,315 | ||||||
Centene Corp. | 3,507,000 | 3,559,605 | ||||||
4.75%, 5/15/22 | 4,258,000 | 4,353,805 | ||||||
6.125%, 2/15/24 | 1,875,000 | 1,965,234 | ||||||
4.75%, 1/15/25 | 3,251,000 | 3,283,510 | ||||||
5.375%, 6/01/26, 144A | 5,278,000 | 5,489,120 | ||||||
Charles River Laboratories International, Inc., 144A | 1,259,000 | 1,312,507 |
Principal | Value | |||||||
Healthcare-Services (Continued) | ||||||||
CHS/Community Health Systems, Inc. | $ | 3,070,000 | $ | 3,016,275 | ||||
6.875%, 2/01/22 (a) | 6,764,000 | 4,464,240 | ||||||
6.25%, 3/31/23 | 9,688,000 | 9,361,030 | ||||||
11.00%, 6/30/23, 144A (a) | 4,780,000 | 4,409,550 | ||||||
8.625%, 1/15/24, 144A (a) | 3,341,000 | 3,449,582 | ||||||
8.125%, 6/30/24, 144A (a) | 4,306,000 | 3,638,570 | ||||||
DaVita, Inc. | 3,835,000 | 3,914,308 | ||||||
5.125%, 7/15/24 | 4,660,000 | 4,625,050 | ||||||
5.00%, 5/01/25 | 4,737,000 | 4,588,969 | ||||||
Eagle Holding Co. II LLC, 144A | 186,000 | 186,930 | ||||||
Encompass Health Corp. | 3,848,000 | 3,902,064 | ||||||
Envision Healthcare Corp., 144A | 3,593,000 | 3,251,665 | ||||||
HCA Healthcare, Inc. | 3,505,000 | 3,681,442 | ||||||
HCA, Inc. | 5,603,000 | 6,156,296 | ||||||
5.875%, 5/01/23 | 3,626,000 | 3,843,560 | ||||||
5.375%, 2/01/25 | 7,689,000 | 7,994,176 | ||||||
5.25%, 4/15/25 | 140,000 | 148,378 | ||||||
5.875%, 2/15/26 | 4,326,000 | 4,580,152 | ||||||
5.25%, 6/15/26 | 30,000 | 31,685 | ||||||
5.375%, 9/01/26 | 2,423,000 | 2,489,632 | ||||||
5.625%, 9/01/28 | 4,068,000 | 4,215,465 | ||||||
5.875%, 2/01/29 | 3,498,000 | 3,672,900 | ||||||
MEDNAX, Inc. | 1,997,000 | 2,024,459 | ||||||
6.25%, 1/15/27, 144A | 2,987,000 | 3,011,045 | ||||||
Molina Healthcare, Inc. | 2,286,000 | 2,365,296 | ||||||
MPH Acquisition Holdings LLC, 144A | 4,620,000 | 4,651,739 | ||||||
Quorum Health Corp. | 1,170,000 | 1,079,325 | ||||||
RegionalCare Hospital Partners Holdings Inc / LifePoint Health Inc, 144A | 3,933,000 | 4,041,157 | ||||||
RegionalCare Hospital Partners Holdings, Inc., 144A | 2,720,000 | 2,913,800 | ||||||
Select Medical Corp. | 1,911,000 | 1,925,333 | ||||||
Surgery Center Holdings, Inc., 144A | 800,000 | 818,000 | ||||||
Tenet Healthcare Corp. | 1,699,000 | 1,724,485 | ||||||
6.00%, 10/01/20 | 5,741,000 | 5,956,288 | ||||||
4.50%, 4/01/21 | 2,639,000 | 2,685,183 | ||||||
4.375%, 10/01/21 | 3,173,000 | 3,228,528 | ||||||
8.125%, 4/01/22 | 7,668,000 | 8,214,345 | ||||||
6.75%, 6/15/23 (a) | 5,862,000 | 6,030,533 | ||||||
4.625%, 7/15/24 | 5,691,000 | 5,698,114 |
See Notes to Financial Statements. | 57 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Healthcare-Services (Continued) | ||||||||
5.125%, 5/01/25 | $ | 4,523,000 | $ | 4,494,731 | ||||
7.00%, 8/01/25 (a) | 1,683,000 | 1,693,519 | ||||||
6.25%, 2/01/27, 144A | 3,600,000 | 3,710,250 | ||||||
WellCare Health Plans, Inc. | 3,945,000 | 4,042,442 | ||||||
5.375%, 8/15/26, 144A | 2,194,000 | 2,262,563 | ||||||
|
| |||||||
182,734,492 | ||||||||
|
| |||||||
Household Products/Wares — 0.3% | ||||||||
Prestige Brands, Inc. | 1,099,000 | 1,106,561 | ||||||
6.375%, 3/01/24, 144A (a) | 2,034,000 | 2,054,340 | ||||||
Spectrum Brands, Inc. | 1,112,000 | 1,139,800 | ||||||
5.75%, 7/15/25 | 3,264,000 | 3,210,960 | ||||||
|
| |||||||
7,511,661 | ||||||||
|
| |||||||
Pharmaceuticals — 2.6% | ||||||||
Bausch Health Americas, Inc. | 4,074,000 | 4,399,920 | ||||||
8.50%, 1/31/27, 144A | 3,384,000 | 3,523,590 | ||||||
Bausch Health Cos., Inc. | 3,577,000 | 3,711,138 | ||||||
5.50%, 3/01/23, 144A | 3,014,000 | 3,010,232 | ||||||
5.875%, 5/15/23, 144A | 8,435,000 | 8,424,456 | ||||||
7.00%, 3/15/24, 144A | 6,034,000 | 6,373,413 | ||||||
6.125%, 4/15/25, 144A | 9,025,000 | 8,709,125 | ||||||
5.50%, 11/01/25, 144A | 5,497,000 | 5,565,713 | ||||||
9.00%, 12/15/25, 144A | 3,978,000 | 4,276,350 | ||||||
Elanco Animal Health, Inc. | 1,475,000 | 1,492,232 | ||||||
4.272%, 8/28/23, 144A | 2,851,000 | 2,896,262 | ||||||
4.90%, 8/28/28, 144A | 1,712,000 | 1,779,813 | ||||||
Endo Dac / Endo Finance LLC / Endo Finco, Inc. | 5,032,000 | 4,195,430 | ||||||
6.00%, 2/01/25, 144A | 3,672,000 | 2,845,800 | ||||||
Endo Finance LLC, 144A | 1,918,000 | 1,802,920 | ||||||
Endo Finance LLC / Endo Finco, Inc., 144A | 2,425,000 | 2,011,234 | ||||||
Horizon Pharma USA, Inc. | 1,323,000 | 1,369,305 | ||||||
Vizient, Inc., 144A | 2,372,000 | 2,570,655 | ||||||
|
| |||||||
68,957,588 | ||||||||
|
| |||||||
Diversified — 0.1% | ||||||||
Holding Companies-Diversified — 0.1% |
| |||||||
Stena AB, 144A | 1,497,000 | 1,407,180 | ||||||
|
| |||||||
Energy — 13.2% | ||||||||
Coal — 0.1% | ||||||||
Peabody Energy Corp. | 1,791,000 | 1,813,388 | ||||||
6.375%, 3/31/25, 144A | 1,427,000 | 1,408,449 | ||||||
|
| |||||||
3,221,837 | ||||||||
|
|
Principal | Value | |||||||
Energy-Alternate Sources — 0.1% | ||||||||
TerraForm Power Operating LLC | $ | 1,270,000 | $ | 1,264,551 | ||||
5.00%, 1/31/28, 144A | 2,217,000 | 2,114,464 | ||||||
|
| |||||||
3,379,015 | ||||||||
|
| |||||||
Oil & Gas — 8.8% | ||||||||
Aker BP ASA | 755,000 | 777,801 | ||||||
5.875%, 3/31/25, 144A | 1,534,000 | 1,580,250 | ||||||
Antero Resources Corp. | 3,217,000 | 3,241,127 | ||||||
5.125%, 12/01/22 | 2,877,000 | 2,892,392 | ||||||
5.625%, 6/01/23 | 2,696,000 | 2,712,850 | ||||||
5.00%, 3/01/25 (a) | 1,570,000 | 1,515,050 | ||||||
Ascent Resources Utica Holdings LLC / ARU Finance Corp. | 3,517,000 | 3,807,152 | ||||||
7.00%, 11/01/26, 144A | 1,602,000 | 1,553,940 | ||||||
Baytex Energy Corp. | 950,000 | 940,500 | ||||||
5.625%, 6/01/24, 144A | 1,020,000 | 920,550 | ||||||
Brazos Valley Longhorn LLC / Brazos Valley Longhorn Finance Corp. | 2,060,000 | 2,098,625 | ||||||
Bruin E&P Partners LLC, 144A | 1,610,000 | 1,581,825 | ||||||
California Resources Corp., 144A | 6,585,000 | 5,276,231 | ||||||
Callon Petroleum Co. | 2,299,000 | 2,327,737 | ||||||
6.375%, 7/01/26 | 685,000 | 688,425 | ||||||
Calumet Specialty Products Partners LP / Calumet Finance Corp. | 2,345,000 | 2,180,850 | ||||||
Carrizo Oil & Gas, Inc. | 1,893,000 | 1,876,436 | ||||||
Chesapeake Energy Corp. | 1,269,000 | 1,307,070 | ||||||
6.125%, 2/15/21 | 1,344,000 | 1,380,960 | ||||||
4.875%, 4/15/22 (a) | 1,435,000 | 1,384,775 | ||||||
7.00%, 10/01/24 (a) | 2,352,000 | 2,334,360 | ||||||
8.00%, 1/15/25 (a) | 3,946,000 | 4,029,852 | ||||||
7.50%, 10/01/26 (a) | 1,102,000 | 1,090,980 | ||||||
8.00%, 6/15/27 (a) | 3,974,000 | 3,954,130 | ||||||
CITGO Petroleum Corp., 144A | 1,634,000 | 1,634,000 | ||||||
CNX Resources Corp. | 3,679,000 | 3,724,987 | ||||||
Continental Resources, Inc. | 4,153,000 | 4,200,662 | ||||||
4.50%, 4/15/23 | 4,694,000 | 4,788,284 | ||||||
3.80%, 6/01/24 | 3,124,000 | 3,089,063 | ||||||
4.375%, 1/15/28 | 2,842,000 | 2,835,580 | ||||||
CrownRock LP / CrownRock Finance, Inc., 144A | 3,528,000 | 3,430,980 |
See Notes to Financial Statements. | 58 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Oil & Gas (Continued) | ||||||||
Denbury Resources, Inc. | $ | 3,111,000 | $ | 3,153,776 | ||||
9.25%, 3/31/22, 144A | 1,603,000 | 1,615,022 | ||||||
7.50%, 2/15/24, 144A | 510,000 | 457,725 | ||||||
Diamond Offshore Drilling, Inc. | 1,555,000 | 1,477,250 | ||||||
Diamondback Energy, Inc. | 2,146,000 | 2,180,872 | ||||||
4.75%, 11/01/24 | 1,349,000 | 1,370,921 | ||||||
5.375%, 5/31/25 | 2,352,000 | 2,440,200 | ||||||
Endeavor Energy Resources LP / EER Finance, Inc. | 1,849,000 | 1,943,761 | ||||||
5.75%, 1/30/28, 144A | 1,184,000 | 1,266,880 | ||||||
Ensco PLC | 1,645,000 | 1,280,961 | ||||||
5.20%, 3/15/25 | 1,263,000 | 975,667 | ||||||
7.75%, 2/01/26 | 3,787,000 | 3,190,547 | ||||||
EP Energy LLC / Everest Acquisition Finance, Inc. | 2,622,000 | 1,245,450 | ||||||
8.00%, 11/29/24, 144A (a) | 1,608,000 | 1,141,680 | ||||||
8.00%, 2/15/25, 144A (a) | 2,921,000 | 1,299,845 | ||||||
7.75%, 5/15/26, 144A | 3,203,000 | 2,850,670 | ||||||
Extraction Oil & Gas, Inc. | 1,516,000 | 1,364,400 | ||||||
5.625%, 2/01/26, 144A | 2,133,000 | 1,781,055 | ||||||
Gulfport Energy Corp. | 1,895,000 | 1,729,187 | ||||||
6.375%, 5/15/25 | 1,765,000 | 1,586,294 | ||||||
6.375%, 1/15/26 | 1,523,000 | 1,344,047 | ||||||
Hilcorp Energy I LP / Hilcorp Finance Co. | 1,374,000 | 1,327,627 | ||||||
5.75%, 10/01/25, 144A | 1,409,000 | 1,407,239 | ||||||
6.25%, 11/01/28, 144A | 1,933,000 | 1,904,005 | ||||||
Jones Energy Holdings LLC / Jones Energy Finance Corp. | 1,263,000 | 75,780 | ||||||
9.25%, 3/15/23, 144A (a) | 1,179,000 | 742,770 | ||||||
Matador Resources Co. | 3,110,000 | 3,110,000 | ||||||
MEG Energy Corp. | 2,145,000 | 1,965,356 | ||||||
7.00%, 3/31/24, 144A | 3,395,000 | 3,123,400 | ||||||
6.50%, 1/15/25, 144A | 2,438,000 | 2,404,478 | ||||||
Murphy Oil Corp. | 1,691,000 | 1,678,449 | ||||||
4.45%, 12/01/22 | 2,342,000 | 2,333,361 | ||||||
6.875%, 8/15/24 | 1,543,000 | 1,633,655 | ||||||
5.75%, 8/15/25 | 1,008,000 | 1,026,260 | ||||||
Nabors Industries, Inc. | 2,000,000 | 2,017,500 | ||||||
4.625%, 9/15/21 | 1,991,000 | 1,958,646 | ||||||
5.50%, 1/15/23 (a) | 2,079,000 | 1,959,458 | ||||||
5.75%, 2/01/25 | 2,324,000 | 2,068,360 |
Principal | Value | |||||||
Oil & Gas (Continued) | ||||||||
Noble Holding International Ltd. | $ | 2,293,000 | $ | 2,049,369 | ||||
7.95%, 4/01/25 (a) | 1,249,000 | 1,099,120 | ||||||
7.875%, 2/01/26, 144A (a) | 2,267,000 | 2,128,146 | ||||||
Oasis Petroleum, Inc. | 2,312,000 | 2,314,890 | ||||||
6.25%, 5/01/26, 144A (a) | 1,151,000 | 1,099,205 | ||||||
Parkland Fuel Corp., 144A | 1,734,000 | 1,712,325 | ||||||
Parsley Energy LLC / Parsley Finance Corp. | 768,000 | 789,120 | ||||||
5.375%, 1/15/25, 144A | 2,583,000 | 2,602,373 | ||||||
5.25%, 8/15/25, 144A | 1,855,000 | 1,845,169 | ||||||
5.625%, 10/15/27, 144A | 1,329,000 | 1,322,355 | ||||||
PBF Holding Co LLC / PBF Finance Corp. | 2,056,000 | 2,118,708 | ||||||
PBF Holding Co. LLC / PBF Finance Corp. | 1,411,000 | 1,449,803 | ||||||
PDC Energy, Inc. | 1,544,000 | 1,532,420 | ||||||
5.75%, 5/15/26 | 1,408,000 | 1,355,200 | ||||||
Precision Drilling Corp., 144A | 1,006,000 | 993,425 | ||||||
Puma International Financing SA | 1,450,000 | 1,290,877 | ||||||
5.00%, 1/24/26, 144A | 2,250,000 | 1,935,063 | ||||||
QEP Resources, Inc. | 1,449,000 | 1,429,076 | ||||||
5.25%, 5/01/23 | 1,901,000 | 1,839,218 | ||||||
5.625%, 3/01/26 | 1,413,000 | 1,331,753 | ||||||
Range Resources Corp. | 1,316,000 | 1,339,030 | ||||||
5.00%, 8/15/22 | 1,649,000 | 1,632,510 | ||||||
5.00%, 3/15/23 | 2,342,000 | 2,271,740 | ||||||
4.875%, 5/15/25 (a) | 2,325,000 | 2,141,180 | ||||||
Rowan Cos., Inc. | 1,904,000 | 1,781,430 | ||||||
7.375%, 6/15/25 (a) | 1,402,000 | 1,219,740 | ||||||
Sable Permian Resources Land LLC / AEPB Finance Corp. | 1,319,000 | 540,790 | ||||||
13.00%, 11/30/20, 144A | 1,415,000 | 1,457,450 | ||||||
7.375%, 11/01/21, 144A (a) | 1,408,000 | 577,280 | ||||||
Sanchez Energy Corp. | 1,120,000 | 184,800 | ||||||
6.125%, 1/15/23 | 2,811,000 | 428,678 | ||||||
7.25%, 2/15/23, 144A (a) | 1,897,000 | 1,645,648 | ||||||
Seven Generations Energy Ltd. | 996,000 | 1,023,390 | ||||||
6.875%, 6/30/23, 144A | 1,351,000 | 1,394,908 | ||||||
5.375%, 9/30/25, 144A | 2,678,000 | 2,587,618 | ||||||
SM Energy Co. | 1,031,000 | 1,031,000 | ||||||
5.00%, 1/15/24 | 1,666,000 | 1,576,453 |
See Notes to Financial Statements. | 59 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Oil & Gas (Continued) | ||||||||
5.625%, 6/01/25 | $ | 1,578,000 | $ | 1,483,320 | ||||
6.75%, 9/15/26 | 1,600,000 | 1,540,000 | ||||||
6.625%, 1/15/27 (a) | 1,478,000 | 1,415,185 | ||||||
Southwestern Energy Co. | 2,297,000 | 2,284,826 | ||||||
7.50%, 4/01/26 | 2,000,000 | 2,085,000 | ||||||
7.75%, 10/01/27 (a) | 1,879,000 | 1,954,836 | ||||||
Sunoco LP / Sunoco Finance Corp. | 2,628,000 | 2,667,420 | ||||||
5.50%, 2/15/26 | 1,437,000 | 1,430,965 | ||||||
5.875%, 3/15/28 | 404,000 | 398,950 | ||||||
Transocean, Inc. | 3,500,000 | 3,705,625 | ||||||
7.25%, 11/01/25, 144A | 1,840,000 | 1,766,400 | ||||||
7.50%, 1/15/26, 144A | 2,113,000 | 2,049,610 | ||||||
Whiting Petroleum Corp. | 2,499,000 | 2,542,733 | ||||||
6.25%, 4/01/23 (a) | 1,213,000 | 1,225,130 | ||||||
6.625%, 1/15/26 (a) | 2,992,000 | 2,947,120 | ||||||
WPX Energy, Inc. | 1,316,000 | 1,365,350 | ||||||
8.25%, 8/01/23 | 1,726,000 | 1,943,908 | ||||||
5.25%, 9/15/24 | 1,464,000 | 1,465,830 | ||||||
5.75%, 6/01/26 (a) | 1,756,000 | 1,773,560 | ||||||
|
| |||||||
232,707,006 | ||||||||
|
| |||||||
Oil & Gas Services — 0.6% | ||||||||
Bristow Group, Inc. | 1,105,000 | 342,550 | ||||||
KCA Deutag UK Finance PLC | 1,224,000 | 982,260 | ||||||
9.625%, 4/01/23, 144A | 1,401,000 | 1,075,267 | ||||||
McDermott Technology Americas, Inc. / McDermott Technology US, Inc., 144A | 3,784,000 | 3,154,910 | ||||||
SESI LLC | 2,491,000 | 2,316,630 | ||||||
7.75%, 9/15/24 | 1,514,000 | 1,294,470 | ||||||
Weatherford International Ltd. | 2,299,000 | 2,069,100 | ||||||
4.50%, 4/15/22 (a) | 1,714,000 | 1,186,945 | ||||||
8.25%, 6/15/23 | 2,153,000 | 1,544,778 | ||||||
9.875%, 2/15/24 (a) | 2,320,000 | 1,682,000 | ||||||
|
| |||||||
15,648,910 | ||||||||
|
| |||||||
Pipelines — 3.6% | ||||||||
Antero Midstream Partners LP / Antero Midstream Finance Corp. | 1,400,000 | 1,407,000 | ||||||
5.75%, 3/01/27, 144A | 2,000,000 | 2,020,000 | ||||||
Blue Racer Midstream LLC / Blue Racer Finance Corp., 144A | 3,231,000 | 3,291,581 | ||||||
Cheniere Corpus Christi Holdings LLC | 3,633,000 | 4,032,630 | ||||||
5.875%, 3/31/25 | 4,459,000 | 4,760,027 | ||||||
5.125%, 6/30/27 | 4,708,000 | 4,813,930 |
Principal | Value | |||||||
Pipelines (Continued) | ||||||||
Cheniere Energy Partners LP | $ | 4,330,000 | $ | 4,400,362 | ||||
5.625%, 10/01/26, 144A | 3,179,000 | 3,246,554 | ||||||
Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp. | 1,965,000 | 2,026,937 | ||||||
5.75%, 4/01/25 | 1,355,000 | 1,370,667 | ||||||
DCP Midstream Operating LP | 998,000 | 1,017,960 | ||||||
4.75%, 9/30/21, 144A | 1,790,000 | 1,825,800 | ||||||
3.875%, 3/15/23 | 1,162,000 | 1,156,190 | ||||||
5.375%, 7/15/25 | 2,478,000 | 2,583,315 | ||||||
Energy Transfer LP | 3,135,000 | 3,338,775 | ||||||
4.25%, 3/15/23 | 2,960,000 | 3,004,992 | ||||||
5.875%, 1/15/24 | 3,359,000 | 3,610,925 | ||||||
5.50%, 6/01/27 | 3,044,000 | 3,203,810 | ||||||
EnLink Midstream Partners LP | 2,112,000 | 2,059,200 | ||||||
4.15%, 6/01/25 | 1,730,000 | 1,654,312 | ||||||
4.85%, 7/15/26 | 1,837,000 | 1,804,852 | ||||||
Genesis Energy LP / Genesis Energy Finance Corp. | 2,967,000 | 3,033,758 | ||||||
6.00%, 5/15/23 | 1,100,000 | 1,105,489 | ||||||
6.50%, 10/01/25 | 1,300,000 | 1,251,250 | ||||||
6.25%, 5/15/26 | 1,384,000 | 1,287,120 | ||||||
NGPL PipeCo LLC | 2,023,000 | 2,053,345 | ||||||
4.875%, 8/15/27, 144A | 2,193,000 | 2,214,245 | ||||||
NuStar Logistics LP | 2,376,000 | 2,417,580 | ||||||
5.625%, 4/28/27 | 1,243,000 | 1,250,769 | ||||||
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp. | 392,000 | 392,490 | ||||||
5.50%, 9/15/24, 144A | 3,053,000 | 3,134,057 | ||||||
5.50%, 1/15/28, 144A | 2,138,000 | 2,143,345 | ||||||
Targa Resources Partners LP / Targa Resources Partners Finance Corp. | 1,684,000 | 1,711,348 | ||||||
4.25%, 11/15/23 | 1,647,000 | 1,630,530 | ||||||
6.75%, 3/15/24 | 1,302,000 | 1,368,728 | ||||||
5.125%, 2/01/25 | 1,004,000 | 1,014,040 | ||||||
5.875%, 4/15/26, 144A | 2,939,000 | 3,071,255 | ||||||
5.375%, 2/01/27 | 1,657,000 | 1,673,587 | ||||||
6.50%, 7/15/27, 144A | 2,488,000 | 2,637,280 | ||||||
5.00%, 1/15/28 | 2,283,000 | 2,223,071 | ||||||
6.875%, 1/15/29, 144A | 2,393,000 | 2,553,032 | ||||||
|
| |||||||
94,796,138 | ||||||||
|
| |||||||
Financial — 9.3% | ||||||||
Banks — 0.9% | ||||||||
CIT Group, Inc. | 1,481,000 | 1,495,810 | ||||||
5.00%, 8/15/22 | 3,104,000 | 3,212,640 | ||||||
5.00%, 8/01/23 | 2,283,000 | 2,375,233 |
See Notes to Financial Statements. | 60 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Banks (Continued) | ||||||||
4.75%, 2/16/24 | $ | 1,696,000 | $ | 1,729,920 | ||||
5.25%, 3/07/25 | 1,629,000 | 1,710,450 | ||||||
6.125%, 3/09/28 | 1,185,000 | 1,288,688 | ||||||
Freedom Mortgage Corp. | 1,292,000 | 1,217,710 | ||||||
8.25%, 4/15/25, 144A | 1,991,000 | 1,881,495 | ||||||
Intesa Sanpaolo SpA | 5,481,000 | 5,083,037 | ||||||
5.71%, 1/15/26, 144A | 4,313,000 | 4,041,285 | ||||||
|
| |||||||
24,036,268 | ||||||||
|
| |||||||
Diversified Financial Services — 4.0% | ||||||||
Ally Financial, Inc. | 2,284,000 | 2,395,345 | ||||||
4.125%, 3/30/20 | 2,074,000 | 2,089,555 | ||||||
7.50%, 9/15/20 | 1,180,000 | 1,255,225 | ||||||
4.25%, 4/15/21 | 2,484,000 | 2,521,260 | ||||||
4.125%, 2/13/22 | 1,717,000 | 1,732,560 | ||||||
4.625%, 5/19/22 | 1,178,000 | 1,203,032 | ||||||
5.125%, 9/30/24 | 2,426,000 | 2,553,365 | ||||||
4.625%, 3/30/25 | 2,041,000 | 2,086,310 | ||||||
5.75%, 11/20/25 (a) | 3,166,000 | 3,367,832 | ||||||
Blackstone CQP Holdco LP, 144A | 5,542,000 | 5,548,927 | ||||||
Jefferies Finance LLC / JFIN Co.-Issuer Corp. | ||||||||
7.375%, 4/01/20, 144A | 1,998,000 | 2,006,991 | ||||||
7.50%, 4/15/21, 144A | 979,000 | 1,002,251 | ||||||
6.875%, 4/15/22, 144A | 1,264,000 | 1,267,160 | ||||||
7.25%, 8/15/24, 144A | 1,261,000 | 1,232,627 | ||||||
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp. | 936,000 | 952,380 | ||||||
5.25%, 10/01/25, 144A | 1,083,000 | 1,020,728 | ||||||
Lincoln Finance Ltd., 144A | 1,040,000 | 1,062,100 | ||||||
Lions Gate Capital Holdings LLC | 1,500,000 | 1,541,250 | ||||||
5.875%, 11/01/24, 144A | 1,304,000 | 1,326,820 | ||||||
LPL Holdings, Inc., 144A | 2,121,000 | 2,150,164 | ||||||
Nationstar Mortgage Holdings, Inc. | 3,066,000 | 3,127,320 | ||||||
9.125%, 7/15/26, 144A | 2,477,000 | 2,538,925 | ||||||
Nationstar Mortgage LLC / Nationstar Capital Corp. | 1,598,000 | 1,603,993 | ||||||
Navient Corp. | 5,797,000 | 6,068,474 | ||||||
5.00%, 10/26/20 | 1,543,000 | 1,566,592 | ||||||
5.875%, 3/25/21 | 1,720,000 | 1,758,700 | ||||||
6.625%, 7/26/21 | 2,210,000 | 2,290,113 | ||||||
Series MTN, 7.25%, 1/25/22 | 3,177,000 | 3,343,793 | ||||||
6.50%, 6/15/22 | 1,301,000 | 1,340,030 | ||||||
5.50%, 1/25/23 | 2,781,000 | 2,756,666 |
Principal | Value | |||||||
Diversified Financial Services (Continued) | ||||||||
7.25%, 9/25/23 | $ | 1,832,000 | $ | 1,896,120 | ||||
Series MTN, 6.125%, 3/25/24 | 2,840,000 | 2,783,200 | ||||||
5.875%, 10/25/24 | 1,171,000 | 1,128,551 | ||||||
6.75%, 6/25/25 | 1,339,000 | 1,313,894 | ||||||
6.75%, 6/15/26 | 1,692,000 | 1,628,550 | ||||||
NFP Corp., 144A | 2,072,000 | 1,989,120 | ||||||
Quicken Loans, Inc. | 3,542,000 | 3,513,664 | ||||||
5.25%, 1/15/28, 144A | 3,214,000 | 2,940,810 | ||||||
Springleaf Finance Corp. | 2,538,000 | 2,723,909 | ||||||
7.75%, 10/01/21 | 2,076,000 | 2,236,184 | ||||||
6.125%, 5/15/22 | 3,146,000 | 3,279,705 | ||||||
5.625%, 3/15/23 | 2,780,000 | 2,832,125 | ||||||
6.125%, 3/15/24 | 2,200,000 | 2,230,250 | ||||||
6.875%, 3/15/25 | 3,800,000 | 3,899,750 | ||||||
7.125%, 3/15/26 | 5,071,000 | 5,143,896 | ||||||
Vantiv LLC / Vanitv Issuer Corp., 144A | 1,480,000 | 1,433,750 | ||||||
|
| |||||||
105,683,966 | ||||||||
|
| |||||||
Insurance — 0.6% | ||||||||
Acrisure LLC / Acrisure Finance, Inc. | 2,200,000 | 2,256,375 | ||||||
7.00%, 11/15/25, 144A | 2,700,000 | 2,397,816 | ||||||
Alliant Holdings Intermediate LLC / Alliant HoldingsCo-Issuer, 144A | 2,014,000 | 2,090,783 | ||||||
Ardonagh Midco 3 PLC, 144A | 1,449,000 | 1,282,365 | ||||||
AssuredPartners, Inc., 144A | 1,395,000 | 1,332,225 | ||||||
Genworth Holdings, Inc. | 2,071,000 | 2,030,098 | ||||||
HUB International Ltd., 144A | 3,590,000 | 3,527,175 | ||||||
Radian Group, Inc. | 1,274,580 | 1,245,902 | ||||||
|
| |||||||
16,162,739 | ||||||||
|
| |||||||
Real Estate — 0.5% | ||||||||
Howard Hughes Corp., 144A | 3,006,000 | 2,983,455 | ||||||
Kennedy-Wilson, Inc. | 3,670,000 | 3,605,775 | ||||||
Realogy Group LLC / Realogy Co.-Issuer Corp., 144A | 1,907,000 | 1,735,370 | ||||||
Washington Prime Group LP | 2,100,000 | 1,917,628 | ||||||
WeWork Cos., Inc., 144A | 2,072,000 | 1,933,901 | ||||||
|
| |||||||
12,176,129 | ||||||||
|
|
See Notes to Financial Statements. | 61 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Real Estate Investment Trusts — 2.7% | ||||||||
CBL & Associates LP | $ | 1,475,000 | $ | 1,209,500 | ||||
5.95%, 12/15/26 (a) | 1,825,000 | 1,400,687 | ||||||
CyrusOne LP / CyrusOne Finance Corp. | 1,946,000 | 1,984,920 | ||||||
5.375%, 3/15/27 | 1,577,000 | 1,608,540 | ||||||
Equinix, Inc. | 1,705,000 | 1,757,216 | ||||||
5.375%, 4/01/23 | 3,362,000 | 3,433,442 | ||||||
5.75%, 1/01/25 | 1,537,000 | 1,606,165 | ||||||
5.875%, 1/15/26 | 3,260,000 | 3,423,000 | ||||||
5.375%, 5/15/27 | 3,754,000 | 3,894,775 | ||||||
ESH Hospitality, Inc., 144A | 4,102,000 | 4,091,745 | ||||||
Iron Mountain, Inc. | 745,000 | 745,000 | ||||||
6.00%, 8/15/23 | 1,975,000 | 2,029,312 | ||||||
5.75%, 8/15/24 | 2,451,000 | 2,462,489 | ||||||
4.875%, 9/15/27, 144A | 3,255,000 | 3,096,319 | ||||||
5.25%, 3/15/28, 144A | 2,749,000 | 2,645,912 | ||||||
iStar, Inc. | 1,115,000 | 1,123,362 | ||||||
5.25%, 9/15/22 | 1,848,000 | 1,815,660 | ||||||
MGM Growth Properties Operating Partnership LP / MGP FinanceCo-Issuer, Inc. | 3,302,000 | 3,421,698 | ||||||
4.50%, 9/01/26 | 1,554,000 | 1,497,015 | ||||||
5.75%, 2/01/27, 144A | 1,994,000 | 2,043,850 | ||||||
MPT Operating Partnership LP / MPT Finance Corp. | 1,527,000 | 1,607,168 | ||||||
5.25%, 8/01/26 | 1,556,000 | 1,585,175 | ||||||
5.00%, 10/15/27 | 4,100,000 | 4,079,500 | ||||||
Realogy Group LLC / Realogy Co.-Issuer Corp., 144A | 629,000 | 628,214 | ||||||
SBA Communications Corp. | 2,278,000 | 2,312,170 | ||||||
4.00%, 10/01/22 | 2,353,000 | 2,341,235 | ||||||
4.875%, 9/01/24 | 3,071,000 | 3,078,678 | ||||||
Starwood Property Trust, Inc. | 2,398,000 | 2,389,008 | ||||||
5.00%, 12/15/21 | 1,707,000 | 1,747,541 | ||||||
4.75%, 3/15/25 | 1,087,000 | 1,060,151 | ||||||
Uniti Group LP / Uniti Fiber Holdings, Inc. / CSL Capital LLC, 144A | 1,828,000 | 1,526,380 | ||||||
Uniti Group LP / Uniti Group Finance, Inc. / CSL Capital LLC | 1,246,000 | 1,161,895 | ||||||
8.25%, 10/15/23 | 3,638,000 | 3,174,155 | ||||||
|
| |||||||
71,981,877 | ||||||||
|
| |||||||
Venture Capital — 0.6% | ||||||||
Icahn Enterprises LP / Icahn Enterprises Finance Corp. | 3,685,000 | 3,726,456 |
Principal | Value | |||||||
Venture Capital (Continued) | ||||||||
5.875%, 2/01/22 | $ | 5,440,000 | $ | 5,521,600 | ||||
6.25%, 2/01/22 | 3,434,000 | 3,544,918 | ||||||
6.75%, 2/01/24 | 1,565,000 | 1,645,206 | ||||||
6.375%, 12/15/25 | 1,530,000 | 1,577,813 | ||||||
|
| |||||||
16,015,993 | ||||||||
|
| |||||||
Industrial — 9.1% | ||||||||
Aerospace/Defense — 2.4% | ||||||||
Arconic, Inc. | 2,140,000 | 2,217,575 | ||||||
5.40%, 4/15/21 | 4,290,000 | 4,428,746 | ||||||
5.87%, 2/23/22 (a) | 2,401,000 | 2,518,049 | ||||||
5.125%, 10/01/24 | 3,785,000 | 3,758,978 | ||||||
Bombardier, Inc. | 2,447,000 | 2,563,477 | ||||||
8.75%, 12/01/21, 144A | 4,961,000 | 5,475,704 | ||||||
5.75%, 3/15/22, 144A | 1,373,000 | 1,382,611 | ||||||
6.00%, 10/15/22, 144A (a) | 3,025,000 | 3,055,250 | ||||||
6.125%, 1/15/23, 144A (a) | 3,589,000 | 3,624,890 | ||||||
7.50%, 12/01/24, 144A | 2,962,000 | 3,021,240 | ||||||
7.50%, 3/15/25, 144A (a) | 4,415,000 | 4,470,187 | ||||||
Transdigm UK Holdings PLC, 144A | 199,000 | 194,523 | ||||||
Transdigm, Inc., 144A | 1,400,000 | 1,410,360 | ||||||
TransDigm, Inc. | 4,524,000 | 4,619,004 | ||||||
6.50%, 7/15/24 | 3,348,000 | 3,389,850 | ||||||
6.50%, 5/15/25 | 2,028,000 | 2,028,000 | ||||||
6.25%, 3/15/26, 144A | 11,400,000 | 11,685,000 | ||||||
6.375%, 6/15/26 | 2,974,000 | 2,899,650 | ||||||
Triumph Group, Inc. | 1,560,000 | 1,485,900 | ||||||
|
| |||||||
64,228,994 | ||||||||
|
| |||||||
Building Materials — 1.0% | ||||||||
Builders FirstSource, Inc., 144A | 2,093,000 | 2,051,140 | ||||||
Griffon Corp. | 3,640,000 | 3,608,150 | ||||||
Jeld-Wen, Inc. | 1,104,000 | 1,041,900 | ||||||
4.875%, 12/15/27, 144A | 1,052,000 | 977,045 | ||||||
NCI Building Systems, Inc., 144A | 1,790,000 | 1,696,025 | ||||||
Standard Industries, Inc. | 1,126,000 | 1,154,150 | ||||||
5.375%, 11/15/24, 144A | 4,039,000 | 4,114,731 | ||||||
6.00%, 10/15/25, 144A | 3,136,000 | 3,288,880 | ||||||
5.00%, 2/15/27, 144A | 1,210,000 | 1,155,550 | ||||||
Standard Industries, Inc./NJ, 144A | 3,427,000 | 3,212,812 | ||||||
Summit Materials LLC / Summit Materials Finance Corp. | 2,190,000 | 2,255,700 | ||||||
USG Corp., 144A | 1,262,000 | 1,277,359 | ||||||
|
| |||||||
25,833,442 | ||||||||
|
|
See Notes to Financial Statements. | 62 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Electrical Components & Equipment — 0.2% | ||||||||
Energizer Holdings, Inc. | $ | 1,547,000 | $ | 1,516,060 | ||||
6.375%, 7/15/26, 144A | 1,776,000 | 1,798,200 | ||||||
7.75%, 1/15/27, 144A | 1,595,000 | 1,702,662 | ||||||
|
| |||||||
5,016,922 | ||||||||
|
| |||||||
Electronics — 0.2% | ||||||||
Itron, Inc., 144A | 984,000 | 959,400 | ||||||
Sensata Technologies BV | 975,000 | 1,005,468 | ||||||
5.625%, 11/01/24, 144A | 1,001,000 | 1,054,804 | ||||||
5.00%, 10/01/25, 144A | 2,392,000 | 2,427,880 | ||||||
|
| |||||||
5,447,552 | ||||||||
|
| |||||||
Engineering & Construction — 0.3% | ||||||||
AECOM | 2,436,000 | 2,550,614 | ||||||
5.125%, 3/15/27 | 2,976,000 | 2,838,360 | ||||||
Brand Industrial Services, Inc., 144A | 2,895,000 | 2,627,212 | ||||||
MasTec, Inc. | 1,248,000 | 1,255,800 | ||||||
|
| |||||||
9,271,986 | ||||||||
|
| |||||||
Environmental Control — 0.3% | ||||||||
Advanced Disposal Services, Inc., 144A | 1,109,000 | 1,125,635 | ||||||
Clean Harbors, Inc. | 2,310,000 | 2,315,775 | ||||||
Covanta Holding Corp. | 828,000 | 847,665 | ||||||
5.875%, 7/01/25 | 1,714,000 | 1,716,142 | ||||||
6.00%, 1/01/27 | 1,175,000 | 1,183,813 | ||||||
GFL Environmental, Inc., 144A | 1,330,000 | 1,259,344 | ||||||
|
| |||||||
8,448,374 | ||||||||
|
| |||||||
Hand/Machine Tools — 0.1% | ||||||||
Colfax Corp. | 1,700,000 | 1,757,375 | ||||||
6.375%, 2/15/26, 144A | 1,100,000 | 1,148,125 | ||||||
|
| |||||||
2,905,500 | ||||||||
|
| |||||||
Machinery-Construction & Mining — 0.1% | ||||||||
Vertiv Group Corp., 144A | 2,209,000 | 2,220,045 | ||||||
|
| |||||||
Machinery-Diversified — 0.1% | ||||||||
Cloud Crane LLC, 144A | 1,716,000 | 1,831,830 | ||||||
Welbilt, Inc. | 588,000 | 635,040 | ||||||
|
| |||||||
2,466,870 | ||||||||
|
| |||||||
Metal Fabricate/Hardware — 0.3% | ||||||||
Novelis Corp. | 3,759,000 | 3,796,590 | ||||||
5.875%, 9/30/26, 144A | 4,197,000 | 4,102,568 | ||||||
|
| |||||||
7,899,158 | ||||||||
|
|
Principal | Value | |||||||
Packaging & Containers — 3.0% | ||||||||
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc. | $ | 2,557,000 | $ | 2,558,790 | ||||
4.625%, 5/15/23, 144A | 2,392,000 | 2,415,920 | ||||||
7.25%, 5/15/24, 144A | 5,929,000 | 6,179,204 | ||||||
6.00%, 2/15/25, 144A | 4,767,000 | 4,719,330 | ||||||
Ball Corp. | 3,257,000 | 3,330,282 | ||||||
5.00%, 3/15/22 | 2,392,000 | 2,486,185 | ||||||
4.00%, 11/15/23 | 2,856,000 | 2,870,280 | ||||||
5.25%, 7/01/25 | 2,949,000 | 3,103,822 | ||||||
4.875%, 3/15/26 | 2,485,000 | 2,540,912 | ||||||
Berry Global, Inc. | 1,364,000 | 1,386,165 | ||||||
6.00%, 10/15/22 | 1,035,000 | 1,066,050 | ||||||
5.125%, 7/15/23 | 2,034,000 | 2,044,170 | ||||||
4.50%, 2/15/26, 144A | 1,428,000 | 1,354,815 | ||||||
BWAY Holding Co. | 4,667,000 | 4,607,262 | ||||||
7.25%, 4/15/25, 144A (a) | 3,816,000 | 3,634,740 | ||||||
Crown Americas LLC / Crown Americas Capital Corp. IV | 2,559,000 | 2,590,987 | ||||||
Crown Americas LLC / Crown Americas Capital Corp. VI | 299,000 | 300,682 | ||||||
Flex Acquisition Co., Inc. | 1,719,000 | 1,633,050 | ||||||
7.875%, 7/15/26, 144A | 1,483,000 | 1,423,680 | ||||||
Graphic Packaging International LLC | 1,016,000 | 1,036,320 | ||||||
Multi-Color Corp., 144A | 2,150,000 | 2,184,938 | ||||||
Owens-Brockway Glass Container, Inc. | 1,481,000 | 1,528,851 | ||||||
5.875%, 8/15/23, 144A | 1,738,000 | 1,835,763 | ||||||
Reynolds Group Issuer, Inc. / Reynolds Group Issuer LLC / Reynolds Group Issuer Lu | 8,276,180 | 8,303,077 | ||||||
5.125%, 7/15/23, 144A | 4,666,000 | 4,671,833 | ||||||
Reynolds Group Issuer, Inc. / Reynolds Group Issuer LLC / Reynolds Group Issuer Luxembourg, 144A | 2,245,000 | 2,299,722 | ||||||
Sealed Air Corp. | 1,498,000 | 1,565,410 | ||||||
4.875%, 12/01/22, 144A | 1,217,000 | 1,244,383 | ||||||
5.25%, 4/01/23, 144A | 1,041,000 | 1,076,134 | ||||||
5.125%, 12/01/24, 144A | 1,242,000 | 1,283,682 | ||||||
5.50%, 9/15/25, 144A (a) | 759,000 | 793,155 | ||||||
|
| |||||||
78,069,594 | ||||||||
|
| |||||||
Transportation — 0.4% | ||||||||
Hornbeck Offshore Services, Inc. | 1,240,000 | 682,000 | ||||||
Kenan Advantage Group, Inc., 144A | 1,112,000 | 1,087,681 |
See Notes to Financial Statements. | 63 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Transportation (Continued) | ||||||||
XPO Logistics, Inc. | $ | 3,790,000 | $ | 3,870,537 | ||||
6.125%, 9/01/23, 144A | 2,353,000 | 2,355,941 | ||||||
6.75%, 8/15/24, 144A | 2,200,000 | 2,219,514 | ||||||
|
| |||||||
10,215,673 | ||||||||
|
| |||||||
Trucking & Leasing — 0.7% | ||||||||
Avolon Holdings Funding Ltd. | 1,464,000 | 1,504,553 | ||||||
5.125%, 10/01/23, 144A | 2,446,000 | 2,476,575 | ||||||
5.25%, 5/15/24, 144A | 112,000 | 115,080 | ||||||
Fortress Transportation & Infrastructure Investors LLC, 144A | 1,900,000 | 1,941,800 | ||||||
Park Aerospace Holdings Ltd. | 5,525,000 | 5,669,810 | ||||||
4.50%, 3/15/23, 144A | 3,077,000 | 3,061,615 | ||||||
5.50%, 2/15/24, 144A | 4,043,000 | 4,189,559 | ||||||
|
| |||||||
18,958,992 | ||||||||
|
| |||||||
Technology — 5.2% | ||||||||
Computers — 1.8% | ||||||||
Banff Merger Sub, Inc., 144A | 4,329,000 | 4,204,541 | ||||||
Dell International LLC / EMC Corp. | 8,562,000 | 8,736,956 | ||||||
7.125%, 6/15/24, 144A (a) | 4,030,000 | 4,276,713 | ||||||
Dell, Inc. | 1,510,000 | 1,535,481 | ||||||
Diebold Nixdorf, Inc. | 1,042,000 | 890,910 | ||||||
EMC Corp. | 2,142,000 | 2,122,058 | ||||||
3.375%, 6/01/23 | 2,964,000 | 2,848,124 | ||||||
Exela Intermediate LLC / Exela Finance, Inc., 144A | 3,085,000 | 3,158,269 | ||||||
Harland Clarke Holdings Corp. | 2,031,000 | 2,020,845 | ||||||
8.375%, 8/15/22, 144A | 2,364,000 | 2,219,205 | ||||||
Leidos Holdings, Inc. | 1,094,000 | 1,120,639 | ||||||
NCR Corp. | 853,000 | 850,867 | ||||||
5.00%, 7/15/22 | 2,129,000 | 2,139,411 | ||||||
6.375%, 12/15/23 | 2,148,000 | 2,184,452 | ||||||
Sungard Availability Services Capital, Inc., 144A | 1,172,000 | 117,200 | ||||||
West Corp., 144A | 3,349,000 | 2,788,042 | ||||||
Western Digital Corp. | 6,738,000 | 6,384,255 | ||||||
|
| |||||||
47,597,968 | ||||||||
|
|
Principal | Value | |||||||
Office/Business Equipment — 0.7% | ||||||||
CDW LLC / CDW Finance Corp. | $ | 923,000 | $ | 934,537 | ||||
5.50%, 12/01/24 | 1,842,000 | 1,929,495 | ||||||
5.00%, 9/01/25 | 2,714,000 | 2,741,140 | ||||||
Pitney Bowes, Inc. | 1,947,000 | 1,898,325 | ||||||
4.375%, 5/15/22 | 1,439,000 | 1,377,843 | ||||||
4.95%, 4/01/23 | 1,183,000 | 1,117,935 | ||||||
4.625%, 3/15/24 (a) | 1,253,000 | 1,152,760 | ||||||
Xerox Corp. | 3,061,000 | 3,114,568 | ||||||
3.625%, 3/15/23 | 2,854,000 | 2,804,055 | ||||||
|
| |||||||
17,070,658 | ||||||||
|
| |||||||
Semiconductors — 0.1% | ||||||||
Amkor Technology, Inc. | 1,106,000 | 1,117,060 | ||||||
Qorvo, Inc., 144A | 2,162,000 | 2,205,240 | ||||||
Sensata Technologies UK Financing Co. PLC, 144A | 154,000 | 163,047 | ||||||
|
| |||||||
3,485,347 | ||||||||
|
| |||||||
Software — 2.6% | ||||||||
CDK Global, Inc. | 1,406,000 | 1,430,605 | ||||||
5.875%, 6/15/26 | 1,898,000 | 1,959,685 | ||||||
4.875%, 6/01/27 | 1,719,000 | 1,697,873 | ||||||
Change Healthcare Holdings LLC / Change Healthcare Finance, Inc., 144A | 3,405,000 | 3,335,878 | ||||||
First Data Corp. | 4,256,000 | 4,365,081 | ||||||
5.00%, 1/15/24, 144A | 5,315,000 | 5,457,894 | ||||||
5.75%, 1/15/24, 144A | 6,138,000 | 6,341,782 | ||||||
Infor US, Inc. | 5,022,000 | 5,140,117 | ||||||
Informatica LLC, 144A | 2,003,000 | 2,038,293 | ||||||
IQVIA, Inc. | 2,434,000 | 2,482,680 | ||||||
5.00%, 10/15/26, 144A | 3,230,000 | 3,298,637 | ||||||
MSCI, Inc. | 2,663,000 | 2,742,890 | ||||||
5.75%, 8/15/25, 144A | 2,537,000 | 2,651,165 | ||||||
4.75%, 8/01/26, 144A | 1,551,000 | 1,554,877 | ||||||
5.375%, 5/15/27, 144A | 1,242,000 | 1,285,470 | ||||||
Nuance Communications, Inc. | 1,313,000 | 1,342,543 | ||||||
Open Text Corp. | 2,991,000 | 3,084,469 | ||||||
5.875%, 6/01/26, 144A | 2,105,000 | 2,219,891 | ||||||
Rackspace Hosting, Inc., 144A | 3,546,000 | 3,111,615 | ||||||
Riverbed Technology, Inc., 144A | 1,080,000 | 753,300 |
See Notes to Financial Statements. | 64 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF(Continued)
February 28, 2019 (Unaudited)
Principal | Value | |||||||
Software (Continued) | ||||||||
Solera LLC / Solera Finance, Inc., 144A | $ | 5,810,000 | $ | 6,325,638 | ||||
TIBCO Software, Inc., 144A | 2,706,000 | 2,876,816 | ||||||
Veritas US, Inc. / Veritas Bermuda Ltd. | 1,430,000 | 1,365,650 | ||||||
10.50%, 2/01/24, 144A | 2,189,000 | 1,858,549 | ||||||
|
| |||||||
68,721,398 | ||||||||
|
| |||||||
Utilities — 2.8% | ||||||||
Electric — 2.4% | ||||||||
AES Corp. | 1,989,000 | 2,000,158 | ||||||
4.50%, 3/15/23 | 1,101,000 | 1,112,010 | ||||||
4.875%, 5/15/23 | 1,734,000 | 1,755,133 | ||||||
5.50%, 4/15/25 | 1,874,000 | 1,937,247 | ||||||
6.00%, 5/15/26 | 1,642,000 | 1,736,415 | ||||||
5.125%, 9/01/27 | 1,347,000 | 1,387,410 | ||||||
Calpine Corp. | 1,998,000 | 2,032,965 | ||||||
5.375%, 1/15/23 | 3,709,000 | 3,681,183 | ||||||
5.875%, 1/15/24, 144A | 1,108,000 | 1,132,930 | ||||||
5.50%, 2/01/24 | 1,975,000 | 1,908,344 | ||||||
5.75%, 1/15/25 | 4,642,000 | 4,456,320 | ||||||
5.25%, 6/01/26, 144A | 3,630,000 | 3,571,013 | ||||||
Clearway Energy Operating LLC | 2,000,000 | 1,970,000 | ||||||
5.75%, 10/15/25, 144A | 1,311,000 | 1,292,974 | ||||||
InterGen NV, 144A | 1,446,000 | 1,308,630 | ||||||
NextEra Energy Operating Partners LP | 1,509,000 | 1,488,251 | ||||||
4.50%, 9/15/27, 144A | 1,632,000 | 1,560,600 | ||||||
NRG Energy, Inc. | 2,204,000 | 2,286,650 | ||||||
7.25%, 5/15/26 | 2,692,000 | 2,917,455 | �� | |||||
6.625%, 1/15/27 | 3,711,000 | 3,960,333 | ||||||
5.75%, 1/15/28 | 2,419,000 | 2,491,570 | ||||||
Talen Energy Supply LLC | 1,178,000 | 1,260,460 | ||||||
6.50%, 6/01/25 | 1,873,000 | 1,678,208 | ||||||
10.50%, 1/15/26, 144A | 1,696,000 | 1,763,840 |
Principal | Value | |||||||
Electric (Continued) | ||||||||
Vistra Energy Corp. | $ | 1,849,000 | $ | 1,906,781 | ||||
7.625%, 11/01/24 | 5,425,000 | 5,777,625 | ||||||
Vistra Operations Co. LLC | 3,163,000 | 3,289,520 | ||||||
5.625%, 2/15/27, 144A | 3,200,000 | 3,304,000 | ||||||
|
| |||||||
64,968,025 | ||||||||
|
| |||||||
Gas — 0.4% | ||||||||
AmeriGas Partners LP / AmeriGas Finance Corp. | 2,084,000 | 2,115,260 | ||||||
5.50%, 5/20/25 | 1,976,000 | 1,966,120 | ||||||
5.875%, 8/20/26 | 2,201,000 | 2,216,847 | ||||||
5.75%, 5/20/27 | 1,277,000 | 1,257,845 | ||||||
NGL Energy Partners LP / NGL Energy Finance Corp. | 1,856,000 | 1,923,280 | ||||||
9,479,352 | ||||||||
|
| |||||||
TOTAL CORPORATE BONDS | 2,590,887,936 | |||||||
|
| |||||||
Number | ||||||||
SECURITIES LENDING COLLATERAL — 6.0% |
| |||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 2.31% (b)(c) | 159,828,582 | 159,828,582 | ||||||
|
| |||||||
CASH EQUIVALENTS — 0.9% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 2.38% (b) | 23,260,630 | 23,260,630 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 104.8% (Cost $2,782,549,481) | $ | 2,773,977,148 | ||||||
Other assets and liabilities, net — (4.8%) | (128,871,656 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 2,645,105,492 | ||||||
|
|
See Notes to Financial Statements. | 65 |
DBX ETF Trust
Schedule of Investments
Xtrackers USD High Yield Corporate Bond ETF(Continued)
February 28, 2019 (Unaudited)
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2019 is as follows:
Value ($) at 8/31/2018 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2019 | Value ($) at 2/28/2019 | ||||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL —6.0% | ||||||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares” , 2.31% (b)(c) | ||||||||||||||||||||||||||||||||||||||
111,668,629 | 48,159,953 | (d) | — | — | — | 844,008 | — | 159,828,582 | 159,828,582 | |||||||||||||||||||||||||||||
CASH EQUIVALENTS —0.9% | ||||||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares” , 2.38% (b) | ||||||||||||||||||||||||||||||||||||||
— | 142,119,281 | (118,858,651 | ) | — | — | 98,368 | — | 23,260,630 | 23,260,630 | |||||||||||||||||||||||||||||
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| |||||||||||||||||||||
111,668,629 | 190,279,234 | (118,858,651 | ) | — | — | 942,376 | — | 183,089,212 | 183,089,212 | |||||||||||||||||||||||||||||
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(a) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2019 amounted to $167,650,742, which is 6.3% of net assets. |
(b) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualizedseven-day yield at period end. |
(c) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund heldnon-cash U.S. Treasury securities collateral having a value of $14,397,588. |
(d) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2019. |
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 February 28, 2019 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 (e) | $ | — | $ | 2,590,887,936 | $ | — | $ | 2,590,887,936 | ||||||||
Short-Term Investments (e) | 183,089,212 | — | — | 183,089,212 | ||||||||||||
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| |||||||||
TOTAL | $ | 183,089,212 | $ | 2,590,887,936 | $ | — | $ | 2,773,977,148 | ||||||||
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(e) | See Schedule of Investments for additional detailed categorizations. |
See Notes to Financial Statements. | 66 |
This Page is Intentionally Left Blank
67
DBX ETF Trust
February 28, 2019 (Unaudited)
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 | ||||||||||||||||
Investment innon-affiliated securities at value | $ | 4,933,474 | $ | 9,768,272 | $ | 143,710,120 | $ | 141,226,806 | ||||||||
Investment in DWS Government Money Market Series | 14,461 | 201,127 | 668,889 | 2,298,360 | ||||||||||||
Investment in DWS Government & Agency Securities Portfolio* | — | — | 14,261,434 | 2,001,021 | ||||||||||||
Foreign currency at value | 13,792 | — | — | — | ||||||||||||
Unrealized appreciation on forward foreign currency contracts | 50,032 | 82,758 | — | — | ||||||||||||
Receivables: | ||||||||||||||||
Investment securities sold | — | 74,011 | 5,971,928 | 4,161,246 | ||||||||||||
Capital shares | — | 1,956 | — | — | ||||||||||||
Interest | 68,227 | 86,316 | 2,692,734 | 1,986,849 | ||||||||||||
Securities lending income | — | — | 13,868 | 936 | ||||||||||||
Foreign tax reclaim | 161 | 1,982 | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Assets | $ | 5,080,147 | $ | 10,216,422 | $ | 167,318,973 | $ | 151,675,218 | ||||||||
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| |||||||||
Liabilities | ||||||||||||||||
Due to custodian | $ | — | $ | 29 | $ | — | $ | — | ||||||||
Due to foreign custodian | — | 82,906 | — | — | ||||||||||||
Payable upon return of securities loaned | — | — | 14,261,434 | 2,001,021 | ||||||||||||
Unrealized depreciation on forward foreign currency contracts | 10,242 | 28,558 | — | — | ||||||||||||
Payables: | ||||||||||||||||
Investment securities purchased | 41,219 | 222,334 | 5,672,318 | 6,134,479 | ||||||||||||
Investment advisory fees | 1,154 | 1,080 | 39,046 | 27,288 | ||||||||||||
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| |||||||||
Total Liabilities | 52,615 | 334,907 | 19,972,798 | 8,162,788 | ||||||||||||
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|
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|
|
| |||||||||
Net Assets, at value | $ | 5,027,532 | $ | 9,881,515 | $ | 147,346,175 | $ | 143,512,430 | ||||||||
|
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|
|
| |||||||||
Net Assets Consist of | ||||||||||||||||
Paid-in capital | $ | 5,009,594 | $ | 9,953,183 | $ | 151,979,020 | $ | 144,466,465 | ||||||||
Distributable earnings (loss) | 17,938 | (71,668 | ) | (4,632,845 | ) | (954,035 | ) | |||||||||
|
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|
|
|
|
|
| |||||||||
Net Assets, at value | $ | 5,027,532 | $ | 9,881,515 | $ | 147,346,175 | $ | 143,512,430 | ||||||||
|
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| |||||||||
Number of Common Shares outstanding | 100,001 | 200,001 | 3,050,001 | 2,900,001 | ||||||||||||
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| |||||||||
Net Asset Value | $ | 50.27 | $ | 49.41 | $ | 48.31 | $ | 49.49 | ||||||||
|
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| |||||||||
Investment innon-affiliated securities at cost | $ | 4,889,373 | $ | 9,775,663 | $ | 147,802,067 | $ | 140,785,795 | ||||||||
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| |||||||||
Value of securities loaned | $ | — | $ | — | $ | 14,534,307 | $ | 2,706,437 | ||||||||
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| |||||||||
Investment in DWS Government Money Market Series at cost | $ | 14,461 | $ | 201,127 | $ | 668,889 | $ | 2,298,360 | ||||||||
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| |||||||||
Investment in DWS Government & Agency Securities Portfolio at cost* | $ | — | $ | — | $ | 14,261,434 | $ | 2,001,021 | ||||||||
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| |||||||||
Non-cash collateral for securities on loan | $ | — | $ | — | $ | 833,741 | $ | 806,301 | ||||||||
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| |||||||||
Foreign currency at cost | $ | 13,662 | $ | (83,387 | ) | $ | — | $ | — | |||||||
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* | Represents collateral on securities loaned. |
See Notes to Financial Statements. | 68 |
DBX ETF Trust
Statements of Assets and Liabilities(Continued)
February 28, 2019 (Unaudited)
Xtrackers Short Duration High Yield Bond ETF | Xtrackers USD High Yield Corporate Bond ETF | |||||||
Assets | ||||||||
Investment innon-affiliated securities at value | $ | 43,061,650 | $ | 2,590,887,936 | ||||
Investment in DWS Government Money Market Series | 900,974 | 23,260,630 | ||||||
Investment in DWS Government & Agency Securities Portfolio* | 3,229,873 | 159,828,582 | ||||||
Receivables: | ||||||||
Investment securities sold | 528,285 | 63,139,979 | ||||||
Capital shares | — | 12,196,114 | ||||||
Interest | 754,315 | 42,718,777 | ||||||
Securities lending income | 2,805 | 150,263 | ||||||
|
|
|
| |||||
Total Assets | $ | 48,477,902 | $ | 2,892,182,281 | ||||
|
|
|
| |||||
Liabilities | ||||||||
Due to custodian | $ | — | $ | 187 | ||||
Payable upon return of securities loaned | 3,229,873 | 159,828,582 | ||||||
Payables: | ||||||||
Investment securities purchased | 830,170 | 86,874,668 | ||||||
Investment advisory fees | 6,732 | 373,352 | ||||||
|
|
|
| |||||
Total Liabilities | 4,066,775 | 247,076,789 | ||||||
|
|
|
| |||||
Net Assets, at value | $ | 44,411,127 | $ | 2,645,105,492 | ||||
|
|
|
| |||||
Net Assets Consist of | ||||||||
Paid-in capital | $ | 44,948,114 | $ | 2,654,472,079 | ||||
Distributable earnings (loss) | (536,987 | ) | (9,366,587 | ) | ||||
|
|
|
| |||||
Net Assets, at value | $ | 44,411,127 | $ | 2,645,105,492 | ||||
|
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|
| |||||
Number of Common Shares outstanding | 900,001 | 53,400,001 | ||||||
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| |||||
Net Asset Value | $ | 49.35 | $ | 49.53 | ||||
|
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| |||||
Investment innon-affiliated securities at cost | $ | 43,235,983 | $ | 2,599,460,269 | ||||
|
|
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| |||||
Value of securities loaned | $ | 3,537,264 | $ | 167,650,742 | ||||
|
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|
| |||||
Investment in DWS Government Money Market Series at cost | $ | 900,974 | $ | 23,260,630 | ||||
|
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|
| |||||
Investment in DWS Government & Agency Securities Portfolio at cost* | $ | 3,229,873 | $ | 159,828,582 | ||||
|
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| |||||
Non-cash collateral for securities on loan | $ | 435,484 | $ | 14,397,588 | ||||
|
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|
|
* | Represents collateral on securities loaned. |
See Notes to Financial Statements. | 69 |
DBX ETF Trust
For the Six Months Ended February 28, 2019 (Unaudited)
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 | |||||||||||||
Investment Income | ||||||||||||||||
Unaffiliated interest income* | $ | 33,469 | $ | 28,050 | $ | 5,141,281 | $ | 3,333,376 | ||||||||
Income distributions from affiliated funds | 173 | 324 | 7,589 | 16,584 | ||||||||||||
Affiliated securities lending income | — | — | 87,274 | 7,497 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Income | 33,642 | 28,374 | 5,236,144 | 3,357,457 | ||||||||||||
|
|
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|
|
|
|
| |||||||||
Expenses | ||||||||||||||||
Investment advisory fees | 7,404 | 6,210 | 250,285 | 171,708 | ||||||||||||
Other expenses | 57 | 57 | 299 | 299 | ||||||||||||
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|
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| |||||||||
Total expenses | 7,461 | 6,267 | 250,584 | 172,007 | ||||||||||||
|
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|
| |||||||||
Less fees waived (see note 3): | ||||||||||||||||
Waiver | (6 | ) | (10 | ) | (275 | ) | (593 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net Expenses | 7,455 | 6,257 | 250,309 | 171,414 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Investment income (loss) | 26,187 | 22,117 | 4,985,835 | 3,186,043 | ||||||||||||
|
|
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|
|
|
|
| |||||||||
Realized and Unrealized Gain (Loss) | ||||||||||||||||
Net realized gain (loss) from: | ||||||||||||||||
Investments | (835 | ) | (10,501 | ) | (1,086,372 | ) | (838,045 | ) | ||||||||
Foreign currency transactions | (2,032 | ) | (464 | ) | — | — | ||||||||||
Forward foreign currency contracts | 126,548 | 55,842 | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized gain (loss) | 123,681 | 44,877 | (1,086,372 | ) | (838,045 | ) | ||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||
Investments | (46,005 | ) | 44,981 | (1,491,528 | ) | 1,912,859 | ||||||||||
Foreign currency translations | 1,440 | 1,331 | — | — | ||||||||||||
Forward foreign currency contracts | (5,839 | ) | 20,282 | — | — | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Net change in unrealized appreciation (depreciation) | (50,404 | ) | 66,594 | (1,491,528 | ) | 1,912,859 | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized and unrealized gain (loss) on investments and foreign currency transactions | 73,277 | 111,471 | (2,577,900 | ) | 1,074,814 | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 99,464 | $ | 133,588 | $ | 2,407,935 | $ | 4,260,857 | ||||||||
|
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|
|
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|
|
| |||||||||
* Unaffiliated foreign tax withheld | $ | 407 | $ | 556 | $ | — | $ | — |
See Notes to Financial Statements. | 70 |
DBX ETF Trust
Statements of Operations(Continued)
For the Six Months Ended February 28, 2019 (Unaudited)
Xtrackers Short Duration High Yield Bond ETF | Xtrackers USD High Yield Corporate Bond ETF | |||||||
Investment Income | ||||||||
Unaffiliated interest income | $ | 1,301,723 | $ | 62,547,014 | ||||
Income distributions from affiliated funds | 3,035 | 98,368 | ||||||
Affiliated securities lending income | 18,632 | 844,008 | ||||||
|
|
|
| |||||
Total Investment Income | 1,323,390 | 63,489,390 | ||||||
|
|
|
| |||||
Expenses | ||||||||
Investment advisory fees | 43,832 | 2,001,391 | ||||||
Other expenses | 43 | 2,142 | ||||||
|
|
|
| |||||
Total expenses | 43,875 | 2,003,533 | ||||||
|
|
|
| |||||
Less fees waived (see note 3): | ||||||||
Waiver | (103 | ) | (3,417 | ) | ||||
|
|
|
| |||||
Net Expenses | 43,772 | 2,000,116 | ||||||
|
|
|
| |||||
Net Investment income (loss) | 1,279,618 | 61,489,274 | ||||||
|
|
|
| |||||
Realized and Unrealized Gain (Loss) | ||||||||
Net realized gain (loss) from: | ||||||||
Investments | (350,456 | ) | (7,093,313 | ) | ||||
In-kind redemptions | (167,334 | ) | (1,028,862 | ) | ||||
|
|
|
| |||||
Net realized gain (loss) | (517,790 | ) | (8,122,175 | ) | ||||
Net change in unrealized appreciation (depreciation) on: | ||||||||
Investments | 48,425 | 2,667,827 | ||||||
|
|
|
| |||||
Net change in unrealized appreciation (depreciation) | 48,425 | 2,667,827 | ||||||
|
|
|
| |||||
Net realized and unrealized gain (loss) on investments and foreign currency transactions | (469,365 | ) | (5,454,348 | ) | ||||
|
|
|
| |||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 810,253 | $ | 56,034,926 | ||||
|
|
|
|
See Notes to Financial Statements. | 71 |
DBX ETF Trust
Xtrackers Barclays International Corporate Bond Hedged ETF | Xtrackers Barclays International Treasury Bond Hedged ETF | |||||||||||||||
For the Six Months Ended February 28, 2019 (Unaudited) | Year Ended August 31, 2018 | For the Six Months Ended February 28, 2019 (Unaudited) | Year Ended August 31, 2018 | |||||||||||||
Increase (Decrease) in Net Assets from Operations | ||||||||||||||||
Net investment income (loss) | $ | 26,187 | $ | 38,156 | $ | 22,117 | $ | 33,401 | ||||||||
Net realized gain (loss) | 123,681 | 247,480 | 44,877 | 175,195 | ||||||||||||
Net change in net unrealized appreciation (depreciation) | (50,404 | ) | (203,014 | ) | 66,594 | (143,716 | ) | |||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from operations | 99,464 | 82,622 | 133,588 | 64,880 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Distributions to Shareholders | (82,901 | ) | (113,203 | )* | (102,765 | ) | (63,240 | )* | ||||||||
|
|
|
|
|
|
|
| |||||||||
Fund Shares Transactions | ||||||||||||||||
Proceeds from shares sold | — | — | 4,951,893 | — | ||||||||||||
Value of shares redeemed | — | — | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from fund share transactions | — | — | 4,951,893 | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total net increase (decrease) in Net Assets | 16,563 | (30,581 | ) | 4,982,716 | 1,640 | |||||||||||
Net Assets | ||||||||||||||||
Beginning of period | 5,010,969 | 5,041,550 | 4,898,799 | 4,897,159 | ||||||||||||
|
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|
|
|
|
|
| |||||||||
End of period | $ | 5,027,532 | $ | 5,010,969 | ** | $ | 9,881,515 | $ | 4,898,799 | ** | ||||||
|
|
|
|
|
|
|
| |||||||||
Changes in Shares Outstanding | ||||||||||||||||
Shares outstanding, beginning of period | 100,001 | 100,001 | 100,001 | 100,001 | ||||||||||||
Shares sold | — | — | 100,000 | — | ||||||||||||
Shares redeemed | — | — | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Shares outstanding, end of period | 100,001 | 100,001 | 200,001 | 100,001 | ||||||||||||
|
|
|
|
|
|
|
|
* | Includes distributions from net investment income. |
** | Includes undistributed net investment income of $66,185 and $16,001 respectively. |
See Notes to Financial Statements. | 72 |
DBX ETF Trust
Statements of Changes in Net Assets(Continued)
Xtrackers High Beta High Yield Bond ETF | Xtrackers Low Beta High Yield Bond ETF | |||||||||||||||
For the Six Months Ended February 28, 2019 (Unaudited) | For the Period January 11, 2018(1) to August 31, 2018 | For the Six Months Ended February 28, 2019 (Unaudited) | For the Period January 11, 2018(1) to August 31, 2018 | |||||||||||||
Increase (Decrease) in Net Assets from Operations | ||||||||||||||||
Net investment income (loss) | $ | 4,985,835 | $ | 5,906,468 | $ | 3,186,043 | $ | 3,668,878 | ||||||||
Net realized gain (loss) | (1,086,372 | ) | (250,530 | ) | (838,045 | ) | (1,084,231 | ) | ||||||||
Net change in net unrealized appreciation (depreciation) | (1,491,528 | ) | (2,600,419 | ) | 1,912,859 | (1,471,848 | ) | |||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from operations | 2,407,935 | 3,055,519 | 4,260,857 | 1,112,799 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Distributions to Shareholders | (4,969,597 | ) | (5,126,702 | )* | (3,189,450 | ) | (3,138,241 | )* | ||||||||
|
|
|
|
|
|
|
| |||||||||
Fund Shares Transactions | ||||||||||||||||
Proceeds from shares sold | 2,394,746 | 149,584,224 | 4,799,209 | 139,667,206 | ||||||||||||
Value of shares redeemed | — | — | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from fund share transactions | 2,394,746 | 149,584,224 | 4,799,209 | 139,667,206 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total net increase (decrease) in Net Assets | (166,916 | ) | 147,513,041 | 5,870,616 | 137,641,764 | |||||||||||
Net Assets | ||||||||||||||||
Beginning of period | 147,513,091 | 50 | 137,641,814 | 50 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
End of period | $ | 147,346,175 | $ | 147,513,091 | ** | $ | 143,512,430 | $ | 137,641,814 | ** | ||||||
|
|
|
|
|
|
|
| |||||||||
Changes in Shares Outstanding | ||||||||||||||||
Shares outstanding, beginning of period | 3,000,001 | 1 | 2,800,001 | 1 | ||||||||||||
Shares sold | 50,000 | 3,000,000 | 100,000 | 2,800,000 | ||||||||||||
Shares redeemed | — | — | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Shares outstanding, end of period | 3,050,001 | 3,000,001 | 2,900,001 | 2,800,001 | ||||||||||||
|
|
|
|
|
|
|
|
(1) | Commencement of Operations. |
* | Includes distributions from net investment income. |
** | Includes undistributed net investment income of $779,766 and $530,637 respectively. |
See Notes to Financial Statements. | 73 |
DBX ETF Trust
Statements of Changes in Net Assets(Continued)
Xtrackers Short Duration High Yield Bond ETF | Xtrackers USD High Yield Corporate Bond ETF | |||||||||||||||
For the Six Months Ended February 28, 2019 (Unaudited) | For the Period January 10, 2018(1) to August 31, 2018 | For the Six Months Ended February 28, 2019 (Unaudited) | Year Ended August 31, 2018 | |||||||||||||
Increase (Decrease) in Net Assets from Operations | ||||||||||||||||
Net investment income (loss) | $ | 1,279,618 | $ | 1,195,352 | $ | 61,489,274 | $ | 52,854,950 | ||||||||
Net realized gain (loss) | (517,790 | ) | (64,402 | ) | (8,122,175 | ) | (1,691,911 | ) | ||||||||
Net change in net unrealized appreciation (depreciation) | 48,425 | (222,758 | ) | 2,667,827 | (13,361,568 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from operations | 810,253 | 908,192 | 56,034,926 | 37,801,471 | ||||||||||||
|
|
|
|
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|
|
| |||||||||
Distributions to Shareholders | (1,238,175 | ) | (1,017,257 | )* | (59,247,471 | ) | (45,466,199 | )* | ||||||||
|
|
|
|
|
|
|
| |||||||||
Fund Shares Transactions | ||||||||||||||||
Proceeds from shares sold | 9,805,392 | 39,864,822 | 1,854,616,467 | 1,813,276,805 | ||||||||||||
Value of shares redeemed | (4,722,150 | ) | — | (1,001,916,471 | ) | (230,205,552 | ) | |||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) in net assets resulting from fund share transactions | 5,083,242 | 39,864,822 | 852,699,996 | 1,583,071,253 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total net increase (decrease) in Net Assets | 4,655,320 | 39,755,757 | 849,487,451 | 1,575,406,525 | ||||||||||||
Net Assets | ||||||||||||||||
Beginning of period | 39,755,807 | 50 | 1,795,618,041 | 220,211,516 | ||||||||||||
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| |||||||||
End of period | $ | 44,411,127 | $ | 39,755,807 | ** | $ | 2,645,105,492 | $ | 1,795,618,041 | ** | ||||||
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| |||||||||
Changes in Shares Outstanding | ||||||||||||||||
Shares outstanding, beginning of period | 800,001 | 1 | 36,000,001 | 4,300,001 | ||||||||||||
Shares sold | 200,000 | 800,000 | 38,050,000 | 36,350,000 | ||||||||||||
Shares redeemed | (100,000 | ) | — | (20,650,000 | ) | (4,650,000 | ) | |||||||||
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| |||||||||
Shares outstanding, end of period | 900,001 | 800,001 | 53,400,001 | 36,000,001 | ||||||||||||
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|
|
|
(1) | Commencement of Operations. |
* | Includes distributions from net investment income. |
** | Includes undistributed net investment income of $178,095 and $8,479,077 respectively. |
See Notes to Financial Statements. | 74 |
DBX ETF Trust
Xtrackers Barclays International Corporate Bond Hedged ETF Selected Per Share Data | For the Six Months Ended 2/28/2019 (Unaudited) | Year Ended 8/31/2018 | Period Ended 8/31/2017(a) | |||||||||
Net Asset Value, beginning of period | $ | 50.11 | $ | 50.42 | $ | 50.00 | ||||||
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|
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| |||||||
Income (loss) from investment operations: | ||||||||||||
Net investment income (loss)(b) | 0.26 | 0.38 | 0.43 | |||||||||
Net realized and unrealized gain (loss) | 0.73 | 0.44 | 0.91 | |||||||||
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|
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| |||||||
Total from investment operations | 0.99 | 0.82 | 1.34 | |||||||||
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| |||||||
Less distributions from: | ||||||||||||
Net investment income | (0.83 | ) | (1.13 | ) | (0.92 | ) | ||||||
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|
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| |||||||
Total distributions | (0.83 | ) | (1.13 | ) | (0.92 | ) | ||||||
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| |||||||
Net Asset Value, end of period | $ | 50.27 | $ | 50.11 | $ | 50.42 | ||||||
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| |||||||
Total Return (%) | 2.01 | (c)** | 1.65 | 2.72 | ** | |||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||
Net Assets, end of period ($ millions) | 5 | 5 | 5 | |||||||||
Ratio of expenses before fee waiver (%) | 0.30 | * | 0.30 | 0.30 | * | |||||||
Ratio of expenses after fee waiver (%) | 0.30 | * | 0.30 | 0.30 | * | |||||||
Ratio of net investment income (loss) (%) | 1.05 | * | 0.76 | 1.01 | * | |||||||
Portfolio turnover rate (%)(d) | 17 | ** | 28 | 36 | ** | |||||||
Xtrackers Barclays International Treasury Bond Hedged ETF Selected Per Share Data | For the Six Months Ended 2/28/2019 (Unaudited) | Year Ended 8/31/2018 | Period Ended 8/31/2017(a) | |||||||||
Net Asset Value, beginning of period | $ | 48.99 | $ | 48.97 | $ | 50.00 | ||||||
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| |||||||
Income (loss) from investment operations: | ||||||||||||
Net investment income (loss)(b) | 0.21 | 0.33 | 0.25 | |||||||||
Net realized and unrealized gain (loss) | 1.24 | 0.32 | (0.40 | ) | ||||||||
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| |||||||
Total from investment operations | 1.45 | 0.65 | (0.15 | ) | ||||||||
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| |||||||
Less distributions from: | ||||||||||||
Net investment income | (0.26 | ) | (0.63 | ) | (0.88 | ) | ||||||
Net realized gains | (0.77 | ) | — | — | ||||||||
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| |||||||
Total distributions | (1.03 | ) | (0.63 | ) | (0.88 | ) | ||||||
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Net Asset Value, end of period | $ | 49.41 | $ | 48.99 | $ | 48.97 | ||||||
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| |||||||
Total Return (%) | 2.99 | (c)** | 1.34 | (0.27 | )(e)** | |||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||
Net Assets, end of period ($ millions) | 10 | 5 | 5 | |||||||||
Ratio of expenses before fee waiver (%) | 0.25 | * | 0.25 | 0.25 | * | |||||||
Ratio of expenses after fee waiver (%) | 0.25 | * | 0.25 | 0.25 | * | |||||||
Ratio of net investment income (loss) (%) | 0.90 | * | 0.68 | 0.60 | * | |||||||
Portfolio turnover rate (%)(d) | 12 | ** | 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) | Total return would have been lower if certain expenses had not been reimbursed by the Advisor. |
(d) | Portfolio turnover rate does not include securities received or delivered from processing creations or redemptions. |
(e) | 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. | 75 |
DBX ETF Trust
Financial Highlights(Continued)
Xtrackers High Beta High Yield Bond ETF Selected Per Share Data | For the Six Months Ended 2/28/2019 (Unaudited) | Period Ended 8/31/2018(a) | ||||||
Net Asset Value, beginning of period | $ | 49.17 | $ | 50.00 | ||||
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| |||||
Income (loss) from investment operations: | ||||||||
Net investment income (loss)(b) | 1.64 | 2.07 | ||||||
Net realized and unrealized gain (loss) | (0.86 | ) | (1.11 | ) | ||||
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Total from investment operations | 0.78 | 0.96 | ||||||
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| |||||
Less distributions from: | ||||||||
Net investment income | (1.64 | ) | (1.79 | ) | ||||
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| |||||
Total distributions | (1.64 | ) | (1.79 | ) | ||||
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Net Asset Value, end of period | $ | 48.31 | $ | 49.17 | ||||
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| |||||
Total Return (%) | 1.69 | (c)** | 2.01 | ** | ||||
Ratios to Average Net Assets and Supplemental Data | ||||||||
Net Assets, end of period ($ millions) | 147 | 148 | ||||||
Ratio of expenses before fee waiver (%) | 0.35 | * | 0.35 | * | ||||
Ratio of expenses after fee waiver (%) | 0.35 | * | 0.35 | * | ||||
Ratio of net investment income (loss) (%) | 6.97 | * | 6.71 | * | ||||
Portfolio turnover rate (%)(d) | 22 | ** | 34 | ** | ||||
Xtrackers Low Beta High Yield Bond ETF Selected Per Share Data | For the Six Months Ended 2/28/2019 (Unaudited) | Period Ended 8/31/2018(a) | ||||||
Net Asset Value, beginning of period | $ | 49.16 | $ | 50.00 | ||||
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| |||||
Income (loss) from investment operations: | ||||||||
Net investment income (loss)(b) | 1.12 | 1.37 | ||||||
Net realized and unrealized gain (loss) | 0.33 | (1.05 | ) | |||||
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| |||||
Total from investment operations | 1.45 | 0.32 | ||||||
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| |||||
Less distributions from: | ||||||||
Net investment income | (1.12 | ) | (1.16 | ) | ||||
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| |||||
Total distributions | (1.12 | ) | (1.16 | ) | ||||
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| |||||
Net Asset Value, end of period | $ | 49.49 | $ | 49.16 | ||||
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| |||||
Total Return (%) | 3.02 | (c)** | 0.68 | ** | ||||
Ratios to Average Net Assets and Supplemental Data | ||||||||
Net Assets, end of period ($ millions) | 144 | 138 | ||||||
Ratio of expenses before fee waiver (%) | 0.25 | * | 0.25 | * | ||||
Ratio of expenses after fee waiver (%) | 0.25 | * | 0.25 | * | ||||
Ratio of net investment income (loss) (%) | 4.64 | * | 4.44 | * | ||||
Portfolio turnover rate (%)(d) | 27 | ** | 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) | Total return would have been lower if certain expenses had not been reimbursed by the Advisor. |
(d) | Portfolio turnover rate does not include securities received or delivered from processing creations or redemptions. |
* | Annualized. |
** | Not Annualized. |
See Notes to Financial Statements. | 76 |
DBX ETF Trust
Financial Highlights(Continued)
Xtrackers Short Duration High Yield Bond ETF Selected Per Share Data | For the Six Months Ended 2/28/2019 (Unaudited) | Period Ended 8/31/2018(a) | ||||||||||
Net Asset Value, beginning of period | $ | 49.69 | $ | 50.00 | ||||||||
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| |||||||||
Income (loss) from investment operations: | ||||||||||||
Net investment income (loss)(c) | 1.41 | 1.76 | ||||||||||
Net realized and unrealized gain (loss) | (0.39 | ) | (0.59 | ) | ||||||||
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|
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| |||||||||
Total from investment operations | 1.02 | 1.17 | ||||||||||
|
|
|
| |||||||||
Less distributions from: | ||||||||||||
Net investment income | (1.36 | ) | (1.48 | ) | ||||||||
|
|
|
| |||||||||
Total distributions | (1.36 | ) | (1.48 | ) | ||||||||
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| |||||||||
Net Asset Value, end of period | $ | 49.35 | $ | 49.69 | ||||||||
|
|
|
| |||||||||
Total Return (%) | 2.13 | (d)** | 2.41 | ** | ||||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||
Net Assets, end of period ($ millions) | 44 | 40 | ||||||||||
Ratio of expenses before fee waiver (%) | 0.20 | * | 0.20 | * | ||||||||
Ratio of expenses after fee waiver (%) | 0.20 | * | 0.20 | * | ||||||||
Ratio of net investment income (loss) (%) | 5.84 | * | 5.56 | * | ||||||||
Portfolio turnover rate (%)(e) | 22 | ** | 37 | ** | ||||||||
Xtrackers USD High Yield Corporate Bond ETF Selected Per Share Data | For the Six Months Ended 2/28/2019 (Unaudited) | Year Ended 8/31/2018 | Period Ended 8/31/2017(b) | |||||||||
Net Asset Value, beginning of period | $ | 49.88 | $ | 51.21 | $ | 50.00 | ||||||
|
|
|
|
|
| |||||||
Income (loss) from investment operations: | ||||||||||||
Net investment income (loss)(c) | 1.48 | 2.89 | 2.07 | |||||||||
Net realized and unrealized gain (loss) | (0.36 | ) | (1.53 | ) | 1.11 | |||||||
|
|
|
|
|
| |||||||
Total from investment operations | 1.12 | 1.36 | 3.18 | |||||||||
|
|
|
|
|
| |||||||
Less distributions from: | ||||||||||||
Net investment income | (1.47 | ) | (2.69 | ) | (1.97 | ) | ||||||
|
|
|
|
|
| |||||||
Total distributions | (1.47 | ) | (2.69 | ) | (1.97 | ) | ||||||
|
|
|
|
|
| |||||||
Net Asset Value, end of period | $ | 49.53 | $ | 49.88 | $ | 51.21 | ||||||
|
|
|
|
|
| |||||||
Total Return (%) | 2.33 | (d)** | 2.76 | (d) | 6.43 | ** | ||||||
Ratios to Average Net Assets and Supplemental Data | ||||||||||||
Net Assets, end of period ($ millions) | 2,645 | 1,796 | 220 | |||||||||
Ratio of expenses before fee waiver (%) | 0.20 | * | 0.20 | 0.25 | * | |||||||
Ratio of expenses after fee waiver (%) | 0.20 | * | 0.20 | 0.25 | * | |||||||
Ratio of net investment income (loss) (%) | 6.14 | * | 5.86 | 5.57 | * | |||||||
Portfolio turnover rate (%)(e) | 12 | ** | 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) | Total return would have been lower if certain expenses had not been reimbursed by the Advisor. |
(e) | Portfolio turnover rate does not include securities received or delivered from processing creations or redemptions. |
* | Annualized. |
** | Not Annualized. |
See Notes to Financial Statements. | 77 |
DBX ETF Trust
1. Organization
DBX ETF Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “Act”), as anopen-end registered management investment company organized as a Delaware statutory trust.
As of February 28, 2019, the Trust consists of thirty-eight 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, Inc. (“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 (“NAV”), only in large specified lots consisting of 50,000 shares, each called a “Creation Unit”, to authorized participants who have entered into agreements with the Funds’ distributor. Shares are not individually redeemable securities of the Funds, and owners of the shares may acquire those shares from the Funds, or tender such shares for redemption to the Funds, in Creation Units only.
The investment objective of each Fund is to track the performance, before fees and expenses, of a particular index (the “Underlying Index”). The underlying indices for the Funds are:
Fund | Underlying Index | |
Xtrackers 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 Market0-5 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 new1-month forward contracts based on the newly determined weights of currency to be sold for the next month’s index calculation. The
78
DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
currency weights are determined as of the last calendar day of the preceding month. This means that no changes 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 Market0-5 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 the Index Provider and DBX. There is no charge to the Funds in connection with these licensing agreements.
Each Fund isnon-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.
In October 2018, the Securities and Exchange Commission adopted amendments to certain disclosure requirements in Securities Act ReleaseNo. 33-10532, Disclosure Update and Simplification, which is intended to facilitate the disclosure of information to investors and simplify compliance without significantly altering the total mix of information provided to investors. Effective with the current reporting period, the Funds adopted the amendments with the impacts being that the Funds are no longer required to present components of distributable earnings on the Statement of Assets and Liabilities or the sources of distributable earnings and the amount of undistributed net investment income on the Statements of Changes in Net Assets.
Security Valuation The NAV, of each Fund’s shares is calculated each business day as of the close of regular trading on the New York Stock Exchange, generally 4:00 p.m. Eastern Time. NAV per share is calculated by dividing a Fund’s net assets by the number of Fund shares outstanding.
Various inputs are used in determining the value of the Funds’ investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in
79
DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
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.
Investments inopen-end investment companies are valued at their NAV 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 Fund’s 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 the Fund’s Schedule of Investments.
Cash Cash consists of cash held at banks and is on deposit with major financial institutions.
Investment Transactions and Investment Income Investment transactions are recorded as of the date that the securities are purchased or sold (trade date). Realized gains and losses from the sale or disposition of securities are calculated on the identified cost-method. Interest income is recorded on the accrual basis. All premiums and discounts are amortized/accreted for both tax and financial reporting purposes.
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
80
DBX ETF Trust
Notes to Financial Statements (Unaudited) (Continued)
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 theex-dividend date. The amount of dividends and distributions from net investment income and net realized capital gains are determined in accordance with Federal income tax regulations which may differ from U.S. GAAP. These “book/tax” differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified at the end of the year within the components of net assets based on their federal tax treatment; temporary differences do not require reclassification. Dividends and distributions, which exceed earnings and profits for the full year for tax purposes, are reported as a tax return of capital.
In accordance with U.S. GAAP requirements regarding accounting for uncertainties in income taxes, management has analyzed the Funds’ tax positions taken or expected to be taken on foreign, federal and state income tax returns for all open tax years and has concluded that no provision for income tax is required in the Funds’ financial statements.
The Funds recognize interest and penalties, if any, related to uncertain tax positions as income tax expense on the Statements of Operations. For the period ended February 28, 2019, the Funds did not incur any interest or penalties.
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 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 |
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 | ) |
The tax character of current year distributions will be determined at the end of the current fiscal year.
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Notes to Financial Statements (Unaudited) (Continued)
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 February 28, 2019, if any, are disclosed in the Funds’ Statements of Assets and Liabilities.
Foreign Currency Translations The books and records of the Funds are maintained in U.S. dollars. Investment securities and other assets and liabilities denominated in a foreign currency are translated into U.S. dollars at the prevailing exchange rates at period end. Purchases and sales of investment securities, income and expenses are translated into U.S. dollars at the prevailing exchange rates on the respective dates of the transactions.
Net realized and unrealized gains and losses on foreign currency transactions represent net gains and losses between trade and settlement dates on securities transactions, the acquisition and disposition of foreign currencies, and the difference between the amount of net investment income accrued and the U.S. dollar amount actually received. The portion of both realized and unrealized gains and losses on investments that results from fluctuations in foreign currency exchange rates is not separately disclosed, but is included with net realized and unrealized gain/appreciation and loss/depreciation on investments.
Securities Lending The Funds may lend securities to certain financial institutions under the terms of their securities lending agreement. During the term of the loans the Funds continue to receive interest and dividends generated by the securities and to participate in any changes in their market value. The Funds require the borrowers of the securities to maintain collateral with the Funds consisting of cash and/or securities issued or guaranteed by the U.S. Government, its agencies or instrumentalities having a value at least equal to the value of the securities loaned. When the collateral falls below specified amounts, the lending agent will use its best effort to obtain additional collateral on the next business day to meet required amounts under the securities lending agreement. During the period ended February 28, 2019, 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 (0.11% annualized effective rate as of February 28, 2019) on the cash collateral invested in DWS Government & Agency Securities Portfolio. The Funds receive compensation for lending their securities either in the form of fees or by earning interest on invested cash collateral net of borrower rebates and fees paid to a lending agent. Either the Fund or the borrower may terminate the loan at any time and the borrower, after notice, is required to return borrowed securities within a standard time period. There may be risks of delay and costs in recovery of securities or even loss of rights in the collateral should the borrower of the securities fail financially. If the Funds are not able to recover securities lent, the Funds may sell the collateral and purchase a replacement investment in the market, incurring the risk that the value of the replacement security is greater than the value of the collateral. The Funds are also subject to all investment risks associated with the reinvestment of any cash collateral received, including, but not limited to, interest rate, credit and liquidity risk associated with such investments.
As of February 28, 2019, 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 February 28, 2019 | ||||||||||||||||||||
Securities Lending Transactions | Overnight and Continuous | <30 Days | Between 30 & 90 days | >90 days | Total | |||||||||||||||
Xtrackers High Beta High Yield Bond ETF |
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Corporate Bonds | $ | 14,261,434 | $ | 10,292 | $ | 7,318 | $ | 816,131 | $ | 15,095,175 | ||||||||||
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Gross amount of recognized liabilities for securities lending transactions |
| $ | 15,095,175 | |||||||||||||||||
Xtrackers Low Beta High Yield Bond ETF |
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Corporate Bonds | $ | 2,001,021 | $ | 20,085 | $ | 13,904 | $ | 772,312 | $ | 2,807,322 | ||||||||||
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Gross amount of recognized liabilities for securities lending transactions |
| $ | 2,807,322 |
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Notes to Financial Statements (Unaudited) (Continued)
Remaining Contractual Maturity of the Agreements, as of February 28, 2019 | ||||||||||||||||||||
Securities Lending Transactions | Overnight and Continuous | <30 Days | Between 30 & 90 days | >90 days | Total | |||||||||||||||
Xtrackers Short Duration High Yield Bond ETF |
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Corporate Bonds | $ | 3,229,873 | $ | 10,507 | $ | 7,280 | $ | 417,697 | $ | 3,665,357 | ||||||||||
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Gross amount of recognized liabilities for securities lending transactions |
| $ | 3,665,357 | |||||||||||||||||
Xtrackers USD High Yield Corporate Bond ETF |
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Corporate Bonds | $ | 159,828,582 | $ | 298,254 | $ | 279,294 | $ | 13,820,040 | $ | 174,226,170 | ||||||||||
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Gross amount of recognized liabilities for securities lending transactions |
| $ | 174,226,170 |
During the period ended February 28, 2019, 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 tonon-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.
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 period ended February 28, 2019, the Funds invested in forward currency contracts to hedge against changes in the value of the U.S. dollar against specifiednon-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 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 February 28, 2019 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 period ended February 28, 2019.
The following tables summarize the value of the Funds’ derivative instruments held as of February 28, 2019 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 | $ | 50,032 | Unrealized depreciation on forward foreign currency contracts | $ | 10,242 | ||||||||
Xtrackers Barclays International Treasury Bond Hedged ETF | ||||||||||||||
Foreign exchange contracts | Unrealized appreciation on forward foreign currency contracts | $ | 82,758 | Unrealized depreciation on forward foreign currency contracts | $ | 28,558 |
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Notes to Financial Statements (Unaudited) (Continued)
Additionally, the amount of realized and unrealized gains and losses on derivative instruments recognized in the Funds’ earnings during the period ended February 28, 2019 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 | $ | 126,548 | ||
Xtrackers Barclays International Treasury Bond Hedged ETF | 55,842 | |||
Net Change in Unrealized Appreciation (Depreciation) on: | ||||
Forward Foreign Currency Contracts — Foreign Exchange Contracts | ||||
Xtrackers Barclays International Corporate Bond Hedged ETF | $ | (5,839 | ) | |
Xtrackers Barclays International Treasury Bond Hedged ETF | 20,282 |
For the period ended February 28, 2019 the average monthly volume of derivatives was as follows:
Forward Foreign Currency Contracts (Contract Value) | ||||
Xtrackers Barclays International Corporate Bond Hedged ETF | $ | (4,946,275 | ) | |
Xtrackers Barclays International Treasury Bond Hedged ETF | (5,363,329 | ) |
As of February 28, 2019, 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 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 | $ | 50,032 | $ | (10,242 | ) | $ | — | $ | 39,790 | $ | 10,242 | $ | (10,242 | ) | $ | — | $ | — | ||||||||||||||
Xtrackers Barclays International Treasury Bond Hedged ETF |
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The Bank of Nova Scotia | $ | 82,758 | $ | (28,558 | ) | $ | — | $ | 54,200 | $ | 28,558 | $ | (28,558 | ) | $ | — | $ | — |
Affiliated Cash Management Vehicles The Funds may invest uninvested cash balances in DWS Government Money Market Series and DWS ESG Liquidity Fund, affiliated money market funds which are managed by DWS Investment Management Americas, Inc. (“DIMA”), also an indirect, wholly owned subsidiary of DWS Group GmbH & Co. KGaA. Each affiliated money market fund is managed in accordance with Rule2a-7 under the 1940 Act, which governs the quality, maturity, diversity and liquidity of instruments in which a money market fund may invest. DWS Government Money Market Series seeks to maintain a stable net asset value, and DWS ESG Liquidity Fund maintains a floating net asset value. The Funds indirectly bear their proportionate share of the expenses of each affiliated money market fund in which they invest. The Advisor will waive an amount of the unitary management fee payable to the Advisor by the Funds equal to such acquired fund’s fees and expenses on the Funds’ assets invested in the affiliated money market funds.
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Notes to Financial Statements (Unaudited) (Continued)
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 arrangingsub-advisory, transfer agency, custody, fund administration, and all othernon-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 | % | ||
Xtrackers USD High Yield Corporate Bond ETF | 0.20 | % |
The Advisor for the Funds below has contractually agreed to waive a portion of its management fees in an amount equal to the acquired fund’s fees and expenses attributable to the Funds’ investments in affiliated cash management vehicles. For the period ended February 28, 2019, the Advisor waived expenses of the Fund’s as follows:
Expenses Waived | ||||
Xtrackers Barclays International Corporate Bond Hedged ETF | $ | 6 | ||
Xtrackers Barclays International Treasury Bond Hedged ETF | 10 | |||
Xtrackers High Beta High Yield Bond ETF | 275 | |||
Xtrackers Low Beta High Yield Bond ETF | 593 | |||
Xtrackers Short Duration High Yield Bond ETF | 103 | |||
Xtrackers USD High Yield Corporate Bond ETF | 3,417 |
Effective March 29, 2019, the Advisor for Xtrackers USD High Yield Corporate Bond ETF has contractually agreed, until March 30, 2020, to waive a portion of its management fees to the extent necessary to prevent the operating expenses of the Fund from exceeding 0.15% of the Fund’s average daily net assets.
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 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).
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Notes to Financial Statements (Unaudited) (Continued)
4. Investment Portfolio Transactions
For the period ended February 28, 2019, the cost of investments purchased and proceeds from sale of investments (excludingin-kind transactions and short-term investments) were as follows:
Purchases | Sales | |||||||
Xtrackers Barclays International Corporate Bond Hedged ETF | $ | 941,694 | $ | 839,402 | ||||
Xtrackers Barclays International Treasury Bond Hedged ETF | 5,634,746 | 651,703 | ||||||
Xtrackers High Beta High Yield Bond ETF | 31,332,419 | 31,367,248 | ||||||
Xtrackers Low Beta High Yield Bond ETF | 38,955,621 | 37,077,014 | ||||||
Xtrackers Short Duration High Yield Bond ETF | 9,303,171 | 9,673,144 | ||||||
Xtrackers USD High Yield Corporate Bond ETF | 243,912,146 | 247,930,910 |
For the period ended February 28, 2019, the cost ofin-kind purchases and proceeds fromin-kind sales were as follows:
Purchases | Sales | |||||||
Xtrackers High Beta High Yield Bond ETF | $ | 2,214,785 | $ | — | ||||
Xtrackers Low Beta High Yield Bond ETF | 4,698,443 | — | ||||||
Xtrackers Short Duration High Yield Bond ETF | 9,787,869 | 4,624,840 | ||||||
Xtrackers USD High Yield Corporate Bond ETF | 1,828,209,113 | 981,776,870 |
Transactions with Affiliates. The Funds may purchase securities from, or sell securities to, an affiliated fund provided the affiliation is solely due to having a common investment advisor, common officers, or common trustees. During the period ended February 28, 2019, the Funds engaged in securities purchases and securities sales with an affiliated fund in compliance with Rule17a-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 | $ | 11,194,994 | $ | 17,168,985 | $ | (144,827 | ) | |||||
Xtrackers Low Beta High Yield Bond ETF | 17,168,985 | 11,194,994 | (503,246 | ) |
5. Fund Share Transactions
As of February 28, 2019, 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 thein-kind contribution of a designated portfolio of securities constituting a portfolio sampling representation of the securities included in the respective Fund’s Underlying Index and an amount of cash, which under certain circumstances may include cash in lieu of portfolio securities. Investors purchasing and redeeming Creation Units pay a purchase transaction fee and a redemption transaction fee to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units.
6. Concentration of Ownership
From time to time, the Funds may have a concentration of several shareholder accounts holding a significant percentage of shares outstanding. Investment activities of these shareholders could have a material impact on the Fund. At February 28, 2019, there was one affiliated shareholder account for the fund listed below holding a significant percentage of the shares outstanding:
Approximate Percent of Outstanding Shares Held | ||||
Xtrackers Barclays International Treasury Bond Hedged ETF | 18 | % |
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Notes to Financial Statements (Unaudited) (Continued)
7. Investing in High-Yield Debt Securities
High-yield debt securities or junk bonds are generally regarded as speculative with respect to the issuer’s continuing ability to meet principal and interest payments. A fund’s performance could be hurt if an issuer of a debt security suffers an adverse change in financial condition that results in the issuer not making timely payments of interest or principal, a security downgrade or an inability to meet a financial obligation. High-yield debt securities’ total return and yield may generally be expected to fluctuate more than the total return and yield of investment-grade debt securities. A real or perceived economic downturn or an increase in market interest rates could cause a decline in the value of high-yield debt securities, result in increased redemptions and/or result in increased portfolio turnover, which could result in a decline in 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.
8. 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 theone-month LIBOR Rate. Each Fund may borrow up to the lesser of apro-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 February 28, 2019.
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 |
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DBX ETF Trust
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
After discussions at the meeting of the Board of Trustees (“Board” or “Trustees”) held on February11-12, 2019 (the “Meeting”), the Trustees, including the Independent Trustees (those not affiliated with DBX ETF Trust (the “Trust”) or its service providers), unanimously approved the continuance of the Investment Advisory Agreement with respect toXtrackers 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 (each a “Fund,” and collectively, the “Funds”). The Independent Trustees were advised throughout the review and Meeting by K&L Gates LLP (“Independent Trustee Counsel”).
Before reaching their decision to approve the Investment Advisory Agreement for another annual period, the Independent Trustees evaluated the materials furnished to them in advance of the Meeting from DBX Advisors LLC (“DBX” or the “Advisor”) for purposes of reviewing the agreement’s terms and also took into consideration the discussions they had with management during the Meeting and among themselves during their Executive Sessions held on February 11 and February 12, 2019. The Independent Trustees also noted that they had received and should take into consideration a substantial amount of information furnished throughout the year at regular Board meetings, which information included, among other things, an analysis of each Fund’s investment performance and related financial information, presentations given by DBX, as well as its periodic reports on brokerage commissions, portfolio execution and other services provided to the Funds.
In reaching its decision to continue in effect the Investment Advisory Agreement for another annual period, the Board considered all factors it believed relevant, including (1) the nature, extent and quality of the services provided to the Funds and their shareholders; (2) the financial resources of DBX and its resulting ability to perform its obligations under the Investment Advisory Agreement; (3) the competitiveness of the advisory fee; (4) the total cost of the services provided by and the profits realized by the Advisor from its relationship with the Funds; (5) the extent to which economies of scale have been realized, and if the Funds’ shareholders have benefitted from those economies; and (6) fall out benefits, if any, enjoyed by the Advisor.
The Board reached a determination, with the assistance of Dechert LLP (“Trust Counsel”) and through the exercise of its business judgment, that approval of the Investment Advisory Agreement and the compensation to be received thereunder is in the best interests of each Fund and its shareholders as well as consistent with the Board’s duties under state and federal law. The Board reached this conclusion based on multiple factors.
Nature, Extent and Quality of Services. The Board reviewed in detail the nature, extent and quality of services provided by the Advisor under the Investment Advisory Agreement. In doing so, the Board considered the information it had received from and the discussions it had with the Advisor continuously during the prior year, in addition to the information the Advisor had provided in response to the Board’s requests prior to the Meeting. The Board considered that these services include, among other things, furnishing a continuous investment program for the Funds, including arranging for, or implementing, the purchase and sale of portfolio securities, the provision of general corporate services such as portfolio management compliance services and the preparation and filing of certain reports on behalf of the Trust. The Board also considered, among other things, the professional experience, qualifications and performance of the senior management and key professional personnel of the Advisor, including portfolio management.
The Board considered that the Advisor provides, at its own expense, office facilities and equipment for use by the Funds and supervisory persons responsible for supervising and monitoring the Trust’s service providers. The Board also considered that the Advisor pays or arranges for the compensation of officers of the Trust who are also officers or employees of the Advisor or one of its Deutsche Bank affiliates, except as may otherwise be determined by the Board. In addition, the Board considered that the Advisor arranges for the provision of transfer agency, custody, fund administration and accounting, and othernon-distribution services necessary for the Funds’ operations. The Board also considered that in addition to managing the Funds’ portfolios directly, the Advisor provides oversight ofday-to-day operations, including monitoring tracking error, providing services in
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connection with the creation and redemption of creation units and assistance in meeting legal, compliance and regulatory requirements applicable to the Funds. The Trustees took into consideration that tracking error for each Fund during the year was in an expected range.
Based on its review, the Board concluded that the nature, extent, and quality of services provided by the Advisor under the Investment Advisory Agreement are reasonable and appropriate in relation to the fees paid to the Advisor, taking special consideration of the fact that the advisory fee is a unitary fee and, as a result, a portion of the unitary advisory fee will be used to compensate the Funds’ service providers. The Board considered the staffing of the Advisor, including the training, qualifications and experience of investment personnel in managing the Funds. The Board also considered the expertise of the Advisor in supervising third party service providers to the Funds, such as the administrator and the custodian, noting the Advisor’s extensive work with these service providers (including onsite due diligence sessions) to conduct such supervision. The Board further considered the compliance program of the Advisor, which supports the Funds’ compliance program.
Advisor’s Financial Resources. In connection with the assessment of the ability of the Advisor to perform its duties under the Investment Advisory Agreement, the Board considered the Advisor’s financial condition and whether it has the resources necessary to carry out its functions. The Board concluded that the Advisor has the financial resources necessary to perform its obligations under the Investment Advisory Agreement.
Reasonableness of Advisory Fee. The Board compared each Fund’s advisory fee to that of other pertinent exchange-traded funds (“ETFs”) and noted that each Fund’s fee is competitive with the fees of its respective peer group. The Board agreed that it was familiar with the Advisor’s methodology for selecting each Fund’s peer group and believed that the Funds’ peer groups were appropriate. The Board considered that the fee for each of the Funds is a unitary fee pursuant to which the Advisor pays all of the Funds’ costs (subject to certain specified exceptions). The Board also considered that each Fund’s portfolio is managed on aday-to-day basis by the Advisor and that the Advisor also provides oversight ofday-to-day operations, including monitoring tracking error, providing services in connection with creation and redemption units and assistance in meeting legal and regulatory requirements applicable to the Funds. Based on its review, the Board concluded that the advisory fee for each Fund is reasonable in light of the services provided.
Costs of Services and Profitability. The Board considered the expenses of the Advisor in developing and rendering services provided to the Funds and the information provided by the Advisor to the Board regarding the Funds’ profitability. The Board considered that the Advisor had provided extensive information about the Advisor’s profitability and the Advisor’s methodology in determining profitability. While the Advisor had provided information about the Advisor’s expenses relating to marketing the Funds, the Board considered the Advisor’s profitability without accounting for such expenses. The Board determined that, although only some of the Funds were profitable as of this time, the Advisor’s profitability with respect to each profitable Fund was not excessive. The Board considered whether the Advisor would benefit in other ways from its relationships with the Funds and concluded that there were no materialfall-out benefits likely to accrue to the Advisor related to the operation of the Funds.
Economies of Scale. The Board considered that certain Funds had attracted a substantial amount of assets, but determined that those Funds were not experiencing economies of scale beyond what was reflected in each Fund’s unitary fee, which the Board noted was very competitive. The Board considered that the other Funds were not experiencing economies of scale at this time and determined to revisit this matter after the Funds had attracted more assets.
Given all the information available to it and considering all material factors, the Board concluded that the Investment Advisory Agreement was fair and reasonable and it was unanimously approved.
89
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 or Form N-PORT (available for filings after March 31, 2019). Copies of the filings are available without charge, upon request on the SEC’s website at www.sec.gov and are available by calling the Trust at 855-329-3837.
Information about each Fund’s portfolio holdings is available daily at www.Xtrackers.com.
Discount/Premium Information
Information regarding how often shares of each Fund traded on NYSE Arca or Cboe, as applicable, at a price above (i.e., at a premium) or below (i.e., at a discount) the NAV of the Fund can be found at www.Xtrackers.com.
90
DBX ETF Trust
DBX Advisors LLC (“Advisors”) collectsnon-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 anynon-public personal information about you to anyone, other than as set forth below, as permitted by applicable law and regulation. Advisors may disclosenon-public personal information about you to the funds in which you invest, to Advisors’ affiliates, and tonon-affiliated companies that work with Advisors to service your account(s), or to provide services or process transactions that you have requested. Advisors may disclosenon-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 disclosenon-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 yournon-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. 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”) andnon-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 arenon-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 NYSE Arca, Inc. or Cboe BZX Exchange, Inc., as applicable. Transactions in Fund shares may result in brokerage commissions and may generate tax consequences. There can be no assurance that an active trading market for shares of a Fund will develop or be maintained.
DBX ETF Trust Funds are distributed by ALPS Distributors, Inc. (“ALPS”) The Funds are managed by DBX Advisors LLC which is not affiliated with ALPS.
The brand DWS represents DWS Group GmbH & Co. KGaA and any of its subsidiaries such as DWS Distributors, Inc. which offers investment products or DWS Investment Management Americas Inc. and RREEF America L.L.C. which offer advisory services.
HYUP, HYDW, SHYL, and HYLB 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 © 2019 DWS Group. All rights reserved. XtrackersTM is a trademark of DWS Investment GmbH. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
Not FDIC Insured | No Bank Guarantee | May Lose Value
DBX ETF Trust
Investment advisor DBX Advisors LLC 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-050032-3 (4/19) DBX003834 (4/20)
February 28, 2019
Semi-Annual Report
DBX ETF Trust
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF (ACSG)
Xtrackers MSCI EAFE ESG Leaders Equity ETF (EASG)
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (EMSG)
DBX ETF Trust
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Board Considerations in Approval of Investment Advisory Contracts | 42 | |||
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To our Shareholders:(Unaudited)
Dear Shareholder,
We are pleased to provide this semi-annual report for our three comprehensive ESG equity ETFs for the period ended February 28, 2019.
While ESG investing has recently become a large and fast-growing market segment, environmental, social and governance factors have been part of DWS’s core DNA for more than 20 years. More thanone-quarter of assets under management globally are now being invested according to the premise that ESG factors can materially affect a company’s performance and market value1. Our goal is to provide investors with solutions that allow them to invest along with their values while also ensuring cost-efficient access to markets.
The global economy witnessed moderate growth in the reporting period, driven by relatively strong growth in the U.S. compared with sluggish growth in Eurozone, China, and Japan. Tighter monetary policy, geopolitical uncertainty across regions, and maturing global cycles contributed to more turbulent markets. Interest rates were, by and large, accommodative from major central banks, namely the European Central Bank, the Bank of China, the Bank of Japan, and even the Federal Reserve, which carried out interest rate hikes at a slower pace. Meanwhile, emerging markets face headwinds from a strong U.S. dollar and contractionary U.S. monetary policy.
Sustainable investing strategies have helped listed companies improve their performance on material ESG issues and should continue to do so. In a major development, the 24th Conference of Parties (COP) to the United Nations Framework Convention on Climate Changes was held at Katowice, Poland, in December. Major pledges were announced during the conference to cement the Paris agreement, which includes the World Bank’s doubling its fund forlow-carbon projects to $200 billion between 2021 and 2025. The European Bank for Reconstruction and Development (EBRD) also updated its strategy, ceasing to finance thermal coal mining and any upstream oil exploration. Subsequently, as part of the Institutional Investors Group on Climate Change, California Public Employees’ Retirement System and other asset owners have urged G7 governments to develop strict national plans to cut greenhouse gas emissions by 2020.
In the Eurozone, aggregate growth slowed toward the end of 2018, due to auto downturns, a weak industrial sector, and staggered consumer confidence. The U.K. faced subdued growth owing to low business confidence and Brexit uncertainty. Germany avoided a technical recession in the fourth quarter, resulting in flat growth. Government consumption and solid fixed investment growth helped balance the slowdown in the automobile sector due to the introduction of new emissions-testing standards and weak external demand. France witnessed moderate growth, backed by strong growth in exports despite the “Gilets Jaunes” protests.
Growth in most Asian countries was upbeat in spite of the downward pressure on regional growth due to the trade spat between the U.S. and China. This expansion was backed by bold government spending, declining unemployment rates, increased private consumption, and an improvement in the external sector. The Chinese economy continues to grow at a decelerated pace, due to efforts to tackle financial deleveraging and relatively relaxed monetary policies. The global economy is expected to grow, albeit at a slower pace, in 2019 as the market frets about ongoing trade tensions and monetary tightening. 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 McKinsey as of 2017
Assumptions, estimates and opinions contained in this document constitute our judgment as of the date of the document and are subject to change without notice. Any projections are based on a number of assumptions as to market conditions and there can be no guarantee that any projected results will be achieved. Past performance is not a guarantee of future results.
1
DBX ETF Trust
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF (ACSG)
The Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the MSCI ACWI ex USA ESG Leaders Index (the “Underlying Index”). The Underlying Index is a capitalization weighted index that provides exposure to companies with high environmental, social and governance (“ESG”) performance relative to their sector peers and is constructed using regional indexes that provide exposure to large- and medium-capitalization companies from developed and emerging markets countries (excluding the United States). It is not possible to invest directly into an index.
Ten Largest Equity Holdings as of 2/28/19 (14.3% of Net Assets) |
Description | % of Net Assets | |||
Tencent Holdings Ltd. (China) | 2.3% | |||
Alibaba Group Holding Ltd. (China) | 2.3% | |||
Roche Holding AG (Switzerland) | 1.9% | |||
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) | 1.8% | |||
TOTAL SA (France) | 1.3% | |||
Toronto-Dominion Bank (Canada) | 1.0% | |||
SAP SE (Germany) | 1.0% | |||
GlaxoSmithKline PLC (United Kingdom) | 0.9% | |||
Naspers Ltd. (South Africa) | 0.9% | |||
Allianz SE (Germany) | 0.9% |
Country Diversification* as of 2/28/19 |
Japan | 15.9% | |||
United Kingdom | 8.8% | |||
Canada | 7.6% | |||
China | 7.5% | |||
France | 7.2% | |||
Germany | 6.7% | |||
Australia | 6.5% | |||
Switzerland | 5.4% | |||
Taiwan | 4.0% | |||
Netherlands | 3.0% | |||
Spain | 2.8% | |||
South Africa | 2.7% | |||
South Korea | 2.6% | |||
Sweden | 2.4% | |||
Hong Kong | 2.2% | |||
Other | 14.7% | |||
|
| |||
Total | 100.0% |
Sector Diversification* as of 2/28/19 |
Financials | 22.1% | |||
Consumer Discretionary | 12.7% | |||
Industrials | 11.3% | |||
Information Technology | 9.3% | |||
Consumer Staples | 8.7% | |||
Health Care | 8.5% | |||
Materials | 7.6% | |||
Communication Services | 7.6% | |||
Energy | 5.6% | |||
Utilities | 3.4% | |||
Real Estate | 3.2% | |||
|
| |||
100.0% |
* As a percent of total investments excluding securities lending collateral and cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 6.
2
DBX ETF Trust
Xtrackers MSCI EAFE ESG Leaders Equity ETF (EASG)
The Xtrackers MSCI EAFE ESG Leaders Equity ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the MSCI EAFE ESG Leaders Index (the “Underlying Index”). The Underlying Index s a capitalization weighted index that provides exposure to companies with high environmental, social and governance (“ESG”) performance relative to their sector peers and consists of large- and medium-capitalization companies across developed markets countries, excluding Canada and the United States. It is not possible to invest directly into an index.
Ten Largest Equity Holdings as of 2/28/19 (15.2% of Net Assets) |
Description | % of Net Assets | |||
Roche Holding AG (Switzerland) | 2.8% | |||
TOTAL SA (France) | 2.0% | |||
SAP SE (Germany) | 1.5% | |||
GlaxoSmithKline PLC (United Kingdom) | 1.4% | |||
Allianz SE (Germany) | 1.4% | |||
Commonwealth Bank of Australia (Australia) | 1.3% | |||
Novo Nordisk A/S (Denmark) | 1.3% | |||
Siemens AG (Germany) | 1.2% | |||
Unilever NV (United Kingdom) | 1.2% | |||
ASML Holding NV (Netherlands) | 1.1% |
Country Diversification* as of 2/28/19 |
Japan | 23.5% | |||
United Kingdom | 13.0% | |||
France | 10.7% | |||
Germany | 9.9% | |||
Australia | 9.7% | |||
Switzerland | 8.0% | |||
Netherlands | 4.4% | |||
Spain | 4.3% | |||
Sweden | 3.6% | |||
Denmark | 2.6% | |||
Hong Kong | 2.4% | |||
Other | 7.9% | |||
|
| |||
Total | 100.0% |
Sector Diversification* as of 2/28/19 |
Financials | 19.8% | |||
Industrials | 13.8% | |||
Health Care | 11.4% | |||
Consumer Discretionary | 11.3% | |||
Consumer Staples | 10.1% | |||
Materials | 8.3% | |||
Information Technology | 7.7% | |||
Communication Services | 5.6% | |||
Energy | 4.4% | |||
Utilities | 3.9% | |||
Real Estate | 3.7% | |||
|
| |||
Total | 100.0% |
* As a percent of total investments excluding securities lending collateral and cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 17.
3
DBX ETF Trust
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (EMSG)
The Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the MSCI Emerging Markets ESG Leaders Index (the “Underlying Index”). The Underlying Index is a capitalization weighted index that provides exposure to companies with high environmental, social and governance (“ESG”) performance relative to their sector peers and consists of large- and medium-capitalization companies across emerging markets countries. It is not possible to invest directly into an index.
Ten Largest Equity Holdings as of 2/28/19 (37.2% of Net Assets) |
Description | % of Net Assets | |||
Tencent Holdings Ltd. (China) | 8.8% | |||
Alibaba Group Holding Ltd. (China) | 8.5% | |||
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) | 6.9% | |||
Naspers Ltd. (South Africa) | 3.4% | |||
China Construction Bank Corp. (China) | 3.1% | |||
Itau Unibanco Holding SA (Brazil) | 1.6% | |||
LUKOIL PJSC (Russia) | 1.4% | |||
Banco Bradesco SA (Brazil) | 1.4% | |||
SK Hynix, Inc. (South Korea) | 1.3% | |||
Infosys Ltd. (India) | 0.8% |
Country Diversification* as of 2/28/19 |
China | 30.0% | |||
Taiwan | 16.1% | |||
South Africa | 10.6% | |||
South Korea | 10.2% | |||
Brazil | 7.1% | |||
Indonesia | 3.9% | |||
Thailand | 3.6% | |||
Malaysia | 3.4% | |||
Russia | 2.5% | |||
Mexico | 2.0% | |||
Other | 10.6% | |||
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| |||
Total | 100.0% |
Sector Diversification* as of 2/28/19 |
Financials | 23.6% | |||
Consumer Discretionary | 19.1% | |||
Information Technology | 15.1% | |||
Communication Services | 14.5% | |||
Consumer Staples | 5.8% | |||
Materials | 5.4% | |||
Industrials | 4.8% | |||
Energy | 4.4% | |||
Real Estate | 2.6% | |||
Health Care | 2.6% | |||
Utilities | 2.1% | |||
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| |||
100.0% |
* As a percent of total investments excluding exchange-traded funds, securities lending collateral and cash equivalents.
Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 23.
4
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 recentsix-month period the Funds limited these expenses; had they not done so, expenses would have been higher. The expense examples below are intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with the ongoing costs of investing in other funds.
The examples in the table are based on an investment of $1,000 invested at the beginning of the period and held for the entire period (commencement of operations, as noted below, to February 28, 2019).
Actual expenses
The first line in the following tables provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading “Expenses Paid During the Period” to estimate the expenses you paid on your account during this period.
Hypothetical example for comparison purposes
The second line in the following tables provides information about hypothetical account values and hypothetical expenses based on the Funds’ actual expense ratios and an assumed rate of return of 5% per year before expenses (which is not the Funds’ actual return). The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Please note that the expenses shown in the tables are meant to highlight your ongoing costs only, and do not reflect any transactional costs. Therefore the second line in the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
Beginning Account Value September 1, 2018 | Ending Account Value February 28, 2019 | Annualized Expense Ratio | Expenses Paid During the Period Per $1,000 | |||||||||||||
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF |
| |||||||||||||||
Actual | $ | 1,000.00 | $ | 1,036.30 | 0.16 | % | $ | 0.38 | (3) | |||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,024.00 | 0.16 | % | $ | 0.80 | (1) | |||||||
Xtrackers MSCI EAFE ESG Leaders Equity ETF |
| |||||||||||||||
Actual | $ | 1,000.00 | $ | 977.30 | 0.14 | % | $ | 0.67 | (2) | |||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,024.10 | 0.14 | % | $ | 0.70 | (1) | |||||||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF |
| |||||||||||||||
Actual | $ | 1,000.00 | $ | 1,038.70 | 0.19 | % | $ | 0.45 | (3) | |||||||
Hypothetical (5% return before expenses) | $ | 1,000.00 | $ | 1,023.85 | 0.19 | % | $ | 0.95 | (1) |
(1) Expenses (hypothetical expenses as if each Fund had been in existence from September 1, 2018) are equal to each Fund’s annualized expense ratio, multiplied by the average account value over the period, multiplied by 181 (the number of days in the most recentsix-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 176 (the number of days in the period September 6, 2018 (commencement of operations) to February 28, 2019), then divided by 365.
(3) Expenses are equal to each Fund’s annualized expense ratio, multiplied by the average account value over the period, multiplied by 85 (the number of days in the period December 6, 2018 (commencement of operations) to February 28, 2019), then divided by 365.
5
DBX ETF Trust
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF
February 28, 2019 (Unaudited)
Number | Value | |||||||
COMMON STOCKS — 96.3% | ||||||||
Australia — 6.4% | ||||||||
AGL Energy Ltd. | 458 | $ | 6,911 | |||||
Amcor Ltd. | 818 | 8,759 | ||||||
AMP Ltd. | 2,188 | 3,674 | ||||||
APA Group (a) | 835 | 5,946 | ||||||
ASX Ltd. | 155 | 7,694 | ||||||
Aurizon Holdings Ltd. | 1,511 | 4,859 | ||||||
AusNet Services | 892 | 1,101 | ||||||
Australia & New Zealand Banking Group Ltd. | 2,104 | 41,913 | ||||||
Bendigo & Adelaide Bank Ltd. | 349 | 2,448 | ||||||
BlueScope Steel Ltd. | 405 | 3,878 | ||||||
Boral Ltd. | 903 | 3,199 | ||||||
Brambles Ltd. | 1,155 | 9,663 | ||||||
Caltex Australia Ltd. | 178 | 3,622 | ||||||
Coca-Cola Amatil Ltd. | 374 | 2,121 | ||||||
Cochlear Ltd. | 42 | 5,095 | ||||||
Commonwealth Bank of Australia | 1,307 | 68,763 | ||||||
Computershare Ltd. | 382 | 4,688 | ||||||
CSL Ltd. | 341 | 47,007 | ||||||
Dexus REIT | 757 | 6,474 | ||||||
Flight Centre Travel Group Ltd. | 61 | 1,986 | ||||||
Fortescue Metals Group Ltd. | 1,107 | 4,773 | ||||||
Goodman Group REIT | 1,141 | 10,391 | ||||||
GPT Group REIT | 1,286 | 5,352 | ||||||
Harvey Norman Holdings Ltd. (b) | 753 | 1,929 | ||||||
Insurance Australia Group Ltd. | 1,678 | 8,774 | ||||||
Lendlease Group (a) | 426 | 3,904 | ||||||
Macquarie Group Ltd. | 247 | 22,606 | ||||||
Mirvac Group REIT | 2,834 | 5,182 | ||||||
National Australia Bank Ltd. | 1,989 | 35,561 | ||||||
Newcrest Mining Ltd. | 545 | 9,430 | ||||||
Orica Ltd. | 274 | 3,441 | ||||||
Origin Energy Ltd.* | 1,289 | 6,749 | ||||||
Ramsay Health Care Ltd. | 100 | 4,609 | ||||||
Scentre Group REIT | 3,950 | 10,876 | ||||||
SEEK Ltd. | 253 | 3,315 | ||||||
Stockland REIT | 1,811 | 4,509 | ||||||
Sydney Airport (a) | 803 | 4,113 | ||||||
Telstra Corp. Ltd. | 3,062 | 6,819 | ||||||
Transurban Group (a) | 1,875 | 16,635 | ||||||
Wesfarmers Ltd. | 868 | 20,490 | ||||||
Westpac Banking Corp. | 2,504 | 48,028 | ||||||
Woodside Petroleum Ltd. | 663 | 17,099 | ||||||
|
| |||||||
494,386 | ||||||||
|
| |||||||
Austria — 0.1% | ||||||||
OMV AG | 100 | 5,269 | ||||||
voestalpine AG | 83 | 2,572 | ||||||
|
| |||||||
7,841 | ||||||||
|
| |||||||
Belgium — 0.5% | ||||||||
Colruyt SA | 42 | 2,999 | ||||||
KBC Group NV | 182 | 13,496 | ||||||
Solvay SA | 55 | 6,164 | ||||||
UCB SA | 93 | 7,802 | ||||||
Umicore SA | 149 | 6,447 | ||||||
|
| |||||||
36,908 | ||||||||
|
|
Number | Value | |||||||
Brazil — 0.7% | ||||||||
Atacadao Distribuicao Comercio e Industria Ltda | 300 | $ | 1,561 | |||||
B3 SA — Brasil Bolsa Balcao | 1,535 | 13,421 | ||||||
BR Malls Participacoes SA | 662 | 2,364 | ||||||
Cielo SA | 960 | 2,783 | ||||||
Cosan SA | 109 | 1,270 | ||||||
Engie Brasil Energia SA | 121 | 1,328 | ||||||
Klabin SA | 521 | 2,506 | ||||||
Kroton Educacional SA | 1,070 | 3,130 | ||||||
Localiza Rent a Car SA | 385 | 3,547 | ||||||
Lojas Renner SA | 613 | 7,074 | ||||||
M Dias Branco SA | 87 | 1,090 | ||||||
Multiplan Empreendimentos Imobiliarios SA | 246 | 1,651 | ||||||
Natura Cosmeticos SA | 138 | 1,780 | ||||||
TIM Participacoes SA | 689 | 2,172 | ||||||
Ultrapar Participacoes SA | 256 | 3,646 | ||||||
WEG SA | 575 | 2,824 | ||||||
|
| |||||||
52,147 | ||||||||
|
| |||||||
Canada — 7.4% | ||||||||
Agnico Eagle Mines Ltd. | 171 | 7,267 | ||||||
Alimentation Couche-Tard, Inc., Class B | 327 | 18,416 | ||||||
AltaGas Ltd. | 186 | 2,497 | ||||||
ARC Resources Ltd. | 242 | 1,826 | ||||||
Aurora Cannabis, Inc.* | 487 | 3,668 | ||||||
Bank of Montreal | 466 | 36,310 | ||||||
Bank of Nova Scotia | 917 | 50,926 | ||||||
BlackBerry Ltd.* | 378 | 3,283 | ||||||
CAE, Inc. | 193 | 4,067 | ||||||
Canadian Imperial Bank of Commerce | 324 | 27,462 | ||||||
Canadian National Railway Co. | 551 | 47,243 | ||||||
Canadian Tire Corp. Ltd., Class A | 43 | 4,741 | ||||||
Canopy Growth Corp.* | 148 | 7,010 | ||||||
Cenovus Energy, Inc. | 762 | 6,978 | ||||||
CGI, Inc.* | 201 | 13,466 | ||||||
Emera, Inc. | 59 | 2,097 | ||||||
Empire Co. Ltd., Class A | 130 | 3,017 | ||||||
Enbridge, Inc. | 1,488 | 55,001 | ||||||
Encana Corp. | 1,109 | 8,134 | ||||||
First Capital Realty, Inc. | 176 | 2,862 | ||||||
Fortis, Inc. | 333 | 11,998 | ||||||
Franco-Nevada Corp. | 136 | 10,238 | ||||||
Gildan Activewear, Inc. | 165 | 5,896 | ||||||
Hydro One Ltd., 144A | 206 | 3,230 | ||||||
Loblaw Cos. Ltd. | 141 | 7,017 | ||||||
Lundin Mining Corp. | 473 | 2,399 | ||||||
Magna International, Inc. | 232 | 12,232 | ||||||
Metro, Inc. | 185 | 6,948 | ||||||
Nutrien Ltd. | 457 | 24,856 | ||||||
Open Text Corp. | 217 | 8,219 | ||||||
PrairieSky Royalty Ltd. | 128 | 1,863 | ||||||
Rogers Communications, Inc., Class B | 269 | 14,851 | ||||||
Sun Life Financial, Inc. | 457 | 17,287 | ||||||
Suncor Energy, Inc. | 1,176 | 40,504 | ||||||
Teck Resources Ltd., Class B | 372 | 8,330 | ||||||
Toronto-Dominion Bank | 1,370 | 78,497 |
See Notes to Financial Statements. | 6 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Canada (Continued) | ||||||||
Vermilion Energy, Inc. | 98 | $ | 2,505 | |||||
Wheaton Precious Metals Corp. | 310 | 6,737 | ||||||
WSP Global, Inc. | 69 | 3,651 | ||||||
|
| |||||||
573,529 | ||||||||
|
| |||||||
Chile — 0.3% | ||||||||
Empresa Nacional de Telecomunicaciones SA | 142 | 1,496 | ||||||
Empresas CMPC SA | 870 | 3,268 | ||||||
Empresas COPEC SA | 267 | 3,629 | ||||||
Enel Americas SA | 20,835 | 3,627 | ||||||
Latam Airlines Group SA | 241 | 2,805 | ||||||
SACI Falabella | 691 | 5,382 | ||||||
|
| |||||||
20,207 | ||||||||
|
| |||||||
China — 7.3% | ||||||||
3SBio, Inc., 144A | 961 | 1,589 | ||||||
51job, Inc., ADR*(b) | 19 | 1,373 | ||||||
AAC Technologies Holdings, Inc. | 587 | 3,488 | ||||||
Air China Ltd., Class H | 1,505 | 1,626 | ||||||
Alibaba Group Holding Ltd., ADR*(b) | 963 | 176,258 | ||||||
ANTA Sports Products Ltd. | 846 | 4,958 | ||||||
BAIC Motor Corp. Ltd., Class H, 144A | 2,439 | 1,550 | ||||||
Baozun, Inc., ADR*(b) | 37 | 1,386 | ||||||
BYD Co. Ltd., Class H (b) | 520 | 3,325 | ||||||
BYD Electronic International Co. Ltd. | 923 | 1,181 | ||||||
China CITIC Bank Corp. Ltd., Class H | 7,225 | 4,694 | ||||||
China Conch Venture Holdings Ltd. | 1,074 | 3,585 | ||||||
China Construction Bank Corp., Class H | 70,999 | 63,132 | ||||||
China Longyuan Power Group Corp. Ltd., Class H | 2,531 | 1,889 | ||||||
China Medical System Holdings Ltd. | 1,129 | 1,188 | ||||||
China Merchants Bank Co. Ltd., Class H | 2,873 | 13,176 | ||||||
China Minsheng Banking Corp. Ltd., Class H | 5,002 | 3,861 | ||||||
China Molybdenum Co. Ltd., Class H | 2,790 | 1,336 | ||||||
China Resources Pharmaceutical Group Ltd., 144A | 1,134 | 1,520 | ||||||
China Shenhua Energy Co. Ltd., Class H | 2,532 | 6,245 | ||||||
China Vanke Co. Ltd., Class H | 927 | 3,519 | ||||||
Country Garden Services Holdings Co. Ltd.* | 762 | 1,254 | ||||||
CSPC Pharmaceutical Group Ltd. | 3,457 | 5,901 | ||||||
Ctrip.com International Ltd., ADR* | 308 | 10,512 | ||||||
Dongfeng Motor Group Co. Ltd., Class H | 2,457 | 2,614 | ||||||
ENN Energy Holdings Ltd. | 577 | 5,954 | ||||||
Fosun International Ltd. | 1,660 | 2,732 | ||||||
Geely Automobile Holdings Ltd. | 3,802 | 7,139 | ||||||
Genscript Biotech Corp.* | 673 | 1,259 | ||||||
GOME Retail Holdings Ltd.* | 15,484 | 1,400 | ||||||
Guangzhou Automobile Group Co. Ltd., Class H | 2,280 | 2,803 | ||||||
HengTen Networks Group Ltd.* | 34,321 | 1,224 | ||||||
Huaneng Renewables Corp. Ltd., Class H | 3,894 | 1,186 | ||||||
Jiangsu Expressway Co. Ltd., Class H | 979 | 1,349 | ||||||
Lenovo Group Ltd. | 5,418 | 4,880 | ||||||
New Oriental Education & Technology Group, Inc., ADR* | 111 | 9,109 |
Number | Value | |||||||
China (Continued) | ||||||||
Shandong Weigao Group Medical Polymer Co. Ltd., Class H | 1,701 | $ | 1,478 | |||||
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class H | 431 | 1,529 | ||||||
Shanghai Pharmaceuticals Holding Co. Ltd., Class H | 766 | 1,721 | ||||||
Shenzhou International Group Holdings Ltd. | 602 | 7,516 | ||||||
Sinopharm Group Co. Ltd., Class H | 908 | 4,037 | ||||||
SOHO China Ltd.* | 2,427 | 1,036 | ||||||
Tencent Holdings Ltd. | 4,224 | 180,695 | ||||||
Vipshop Holdings Ltd., ADR* | 385 | 2,764 | ||||||
Wuxi Biologics Cayman, Inc., 144A* | 354 | 3,360 | ||||||
Zhejiang Expressway Co. Ltd., Class H | 1,141 | 1,190 | ||||||
Zhongsheng Group Holdings Ltd. | 723 | 1,680 | ||||||
|
| |||||||
567,201 | ||||||||
|
| |||||||
Colombia — 0.1% | ||||||||
Grupo Argos SA | 309 | 1,798 | ||||||
Interconexion Electrica SA ESP | 400 | 1,816 | ||||||
|
| |||||||
3,614 | ||||||||
|
| |||||||
Czech Republic — 0.1% | ||||||||
CEZ AS | 92 | 2,233 | ||||||
Komercni banka as | 46 | 1,934 | ||||||
|
| |||||||
4,167 | ||||||||
|
| |||||||
Denmark — 1.7% | ||||||||
Chr Hansen Holding A/S | 73 | 7,444 | ||||||
Coloplast A/S, Class B | 91 | 9,080 | ||||||
Genmab A/S* | 45 | 7,785 | ||||||
H Lundbeck A/S | 52 | 2,381 | ||||||
ISS A/S | 111 | 3,468 | ||||||
Novo Nordisk A/S, Class B | 1,331 | 65,379 | ||||||
Novozymes A/S, Class B | 172 | 7,817 | ||||||
Orsted A/S, 144A | 137 | 9,953 | ||||||
Pandora A/S | 83 | 4,360 | ||||||
Tryg A/S (b) | 104 | 2,838 | ||||||
Vestas Wind Systems A/S | 143 | 11,916 | ||||||
William Demant Holding A/S* | 75 | 2,255 | ||||||
|
| |||||||
134,676 | ||||||||
|
| |||||||
Egypt — 0.0% | ||||||||
Commercial International Bank Egypt SAE | 767 | 3,072 | ||||||
|
| |||||||
Finland — 1.1% | ||||||||
Metso OYJ | 72 | 2,444 | ||||||
Neste OYJ | 91 | 8,756 | ||||||
Nokia OYJ | 4,133 | 25,018 | ||||||
Nokian Renkaat OYJ | 85 | 3,010 | ||||||
Nordea Bank Abp | 2,230 | 20,235 | ||||||
Orion OYJ, Class B | 74 | 2,647 | ||||||
Stora Enso OYJ, Class R | 402 | 5,395 | ||||||
UPM-Kymmene OYJ | 391 | 11,808 | ||||||
Wartsila OYJ Abp | 318 | 5,171 | ||||||
|
| |||||||
84,484 | ||||||||
|
|
See Notes to Financial Statements. | 7 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
France — 7.0% | ||||||||
Accor SA | 156 | $ | 6,594 | |||||
Air Liquide SA | 312 | 38,956 | ||||||
Atos SE | 73 | 7,017 | ||||||
AXA SA | 1,445 | 36,685 | ||||||
Bouygues SA | 159 | 6,020 | ||||||
Capgemini SE | 126 | 15,094 | ||||||
Carrefour SA | 432 | 8,855 | ||||||
Casino Guichard Perrachon SA (b) | 41 | 2,170 | ||||||
Cie de Saint-Gobain | 370 | 13,339 | ||||||
Cie Generale des Etablissements Michelin | 125 | 15,017 | ||||||
CNP Assurances | 144 | 3,332 | ||||||
Credit Agricole SA | 859 | 10,987 | ||||||
Danone SA | 450 | 33,989 | ||||||
Eiffage SA | 49 | 4,786 | ||||||
EssilorLuxottica SA | 212 | 25,698 | ||||||
Eurazeo SE | 39 | 2,935 | ||||||
Gecina SA REIT | 34 | 5,049 | ||||||
Getlink SE | 349 | 5,158 | ||||||
Imerys SA | 31 | 1,764 | ||||||
Ingenico Group SA | 43 | 2,890 | ||||||
Ipsen SA | 26 | 3,600 | ||||||
JCDecaux SA | 55 | 1,697 | ||||||
Kering | 57 | 31,161 | ||||||
L’Oreal SA | 189 | 47,756 | ||||||
Natixis SA | 739 | 4,066 | ||||||
Orange SA | 1,454 | 22,252 | ||||||
Renault SA | 145 | 9,945 | ||||||
Rexel SA | 231 | 2,883 | ||||||
Schneider Electric SE | 398 | 31,008 | ||||||
Societe BIC SA | 18 | 1,704 | ||||||
TOTAL SA | 1,775 | 101,039 | ||||||
Unibail-Rodamco-Westfield REIT | 100 | 16,170 | ||||||
Vivendi SA | 752 | 22,007 | ||||||
Wendel SA | 22 | 2,778 | ||||||
|
| |||||||
544,401 | ||||||||
|
| |||||||
Germany — 6.3% | ||||||||
adidas AG | 139 | 33,808 | ||||||
Allianz SE | 315 | 70,160 | ||||||
BASF SE | 690 | 52,634 | ||||||
Bayerische Motoren Werke AG | 249 | 21,070 | ||||||
Beiersdorf AG | 74 | 6,873 | ||||||
Commerzbank AG* | 724 | 5,981 | ||||||
Deutsche Boerse AG | 142 | 17,964 | ||||||
Deutsche Post AG | 725 | 22,554 | ||||||
Deutsche Wohnen SE | 258 | 12,045 | ||||||
E.ON SE | 1,581 | 17,436 | ||||||
Evonik Industries AG | 131 | 3,692 | ||||||
Fraport AG Frankfurt Airport Services Worldwide | 39 | 3,136 | ||||||
HeidelbergCement AG | 117 | 8,612 | ||||||
Henkel AG & Co. KGaA | 73 | 6,866 | ||||||
Merck KGaA | 94 | 9,717 | ||||||
METRO AG | 139 | 2,337 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 114 | 26,884 | ||||||
OSRAM Licht AG (b) | 72 | 3,124 |
Number | Value | |||||||
Germany (Continued) | ||||||||
ProSiebenSat.1 Media SE | 175 | $ | 3,196 | |||||
RWE AG | 368 | 8,993 | ||||||
SAP SE | 730 | 78,304 | ||||||
Siemens AG | 570 | 62,394 | ||||||
Symrise AG | 92 | 8,117 | ||||||
Telefonica Deutschland Holding AG | 511 | 1,679 | ||||||
|
| |||||||
487,576 | ||||||||
|
| |||||||
Greece — 0.0% | ||||||||
Hellenic Telecommunications Organization SA | 190 | 2,412 | ||||||
|
| |||||||
Hong Kong — 2.1% | ||||||||
Alibaba Pictures Group Ltd.* | 10,672 | 1,971 | ||||||
ASM Pacific Technology Ltd. | 245 | 2,595 | ||||||
Beijing Enterprises Water Group Ltd.* | 4,229 | 2,532 | ||||||
BOC Hong Kong Holdings Ltd. | 2,732 | 11,415 | ||||||
Brilliance China Automotive Holdings Ltd. | 2,635 | 2,581 | ||||||
China Agri-Industries Holdings Ltd. | 3,075 | 1,093 | ||||||
China Everbright International Ltd. | 2,618 | 2,561 | ||||||
China First Capital Group Ltd.* | 2,400 | 1,064 | ||||||
China Mengniu Dairy Co. Ltd.* | 2,095 | 6,472 | ||||||
China Overseas Land & Investment Ltd. | 2,894 | 10,655 | ||||||
CLP Holdings Ltd. | 1,189 | 14,087 | ||||||
Fullshare Holdings Ltd.*(b) | 5,068 | 1,014 | ||||||
Hang Lung Properties Ltd. | 1,674 | 3,954 | ||||||
Hang Seng Bank Ltd. | 563 | 13,950 | ||||||
Hong Kong & China Gas Co. Ltd. | 6,570 | 15,216 | ||||||
Hong Kong Exchanges & Clearing Ltd. | 874 | 30,129 | ||||||
Hysan Development Co. Ltd. | 572 | 3,020 | ||||||
Jiayuan International Group Ltd. | 737 | 359 | ||||||
Lee & Man Paper Manufacturing Ltd. | 1,293 | 1,191 | ||||||
MTR Corp. Ltd. | 1,120 | 6,435 | ||||||
Shangri-La Asia Ltd. | 1,109 | 1,577 | ||||||
Shenzhen Investment Ltd. | 985 | 368 | ||||||
Sino Biopharmaceutical Ltd. | 5,142 | 4,461 | ||||||
Swire Pacific Ltd., Class A | 432 | 5,137 | ||||||
Swire Properties Ltd. | 1,018 | 4,085 | ||||||
Techtronic Industries Co. Ltd. | 1,030 | 6,882 | ||||||
Wharf Real Estate Investment Co. Ltd. | 943 | 6,625 | ||||||
Yue Yuen Industrial Holdings Ltd. | 609 | 2,048 | ||||||
|
| |||||||
163,477 | ||||||||
|
| |||||||
Hungary — 0.1% | ||||||||
MOL Hungarian Oil & Gas PLC | 233 | 2,722 | ||||||
OTP Bank Nyrt | 153 | 6,475 | ||||||
|
| |||||||
9,197 | ||||||||
|
| |||||||
India — 0.2% | ||||||||
Axis Bank Ltd., GDR* | 124 | 6,163 | ||||||
Infosys Ltd., ADR (b) | 1,197 | 12,832 | ||||||
|
| |||||||
18,995 | ||||||||
|
| |||||||
Indonesia — 0.9% | ||||||||
PT Adaro Energy Tbk | 13,090 | 1,219 | ||||||
PT Astra International Tbk | 15,008 | 7,628 | ||||||
PT Bank Central Asia Tbk | 7,453 | 14,609 | ||||||
PT Bank Danamon Indonesia Tbk | 2,313 | 1,402 |
See Notes to Financial Statements. | 8 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Indonesia (Continued) | ||||||||
PT Bank Mandiri Persero Tbk | 13,891 | $ | 7,036 | |||||
PT Bank Negara Indonesia Persero Tbk | 5,468 | 3,421 | ||||||
PT Bank Rakyat Indonesia Persero Tbk | 40,841 | 11,177 | ||||||
PT Indah Kiat Pulp & Paper Corp. Tbk | 2,093 | 1,640 | ||||||
PT Indofood CBP Sukses Makmur Tbk | 2,597 | 1,888 | ||||||
PT Indofood Sukses Makmur Tbk | 2,981 | 1,499 | ||||||
PT Kalbe Farma Tbk | 15,558 | 1,653 | ||||||
PT Pabrik Kertas Tjiwi Kimia Tbk | 1,518 | 1,206 | ||||||
PT Perusahaan Gas Negara Persero Tbk | 8,505 | 1,536 | ||||||
PT Telekomunikasi Indonesia Persero Tbk | 37,772 | 10,364 | ||||||
PT Unilever Indonesia Tbk | 1,238 | 4,284 | ||||||
PT United Tractors Tbk | 1,262 | 2,377 | ||||||
|
| |||||||
72,939 | ||||||||
|
| |||||||
Ireland — 0.5% | ||||||||
CRH PLC | 613 | 19,433 | ||||||
DCC PLC | 67 | 5,815 | ||||||
Kerry Group PLC, Class A | 114 | 11,748 | ||||||
|
| |||||||
36,996 | ||||||||
|
| |||||||
Israel — 0.2% | ||||||||
Bank Hapoalim BM | 859 | 5,915 | ||||||
Bank LeumiLe-Israel BM | 1,118 | 7,396 | ||||||
Mizrahi Tefahot Bank Ltd. | 116 | 2,223 | ||||||
|
| |||||||
15,534 | ||||||||
|
| |||||||
Italy — 0.7% | ||||||||
Assicurazioni Generali SpA | 857 | 15,316 | ||||||
Intesa Sanpaolo SpA | 10,857 | 26,815 | ||||||
Recordati SpA | 76 | 2,862 | ||||||
Snam SpA | 1,436 | 7,105 | ||||||
|
| |||||||
52,098 | ||||||||
|
| |||||||
Japan — 15.5% | ||||||||
Aeon Co. Ltd. (b) | 500 | 10,537 | ||||||
AEON Financial Service Co. Ltd. | 100 | 1,966 | ||||||
Aeon Mall Co. Ltd. | 100 | 1,631 | ||||||
AGC, Inc. | 100 | 3,468 | ||||||
Ajinomoto Co., Inc. | 300 | 4,538 | ||||||
Amada Holdings Co. Ltd. | 300 | 3,156 | ||||||
ANA Holdings, Inc. | 100 | 3,712 | ||||||
Asahi Kasei Corp. | 900 | 9,815 | ||||||
Asics Corp. | 100 | 1,331 | ||||||
Astellas Pharma, Inc. | 1,400 | 21,613 | ||||||
Bridgestone Corp. | 500 | 19,731 | ||||||
Casio Computer Co. Ltd. | 200 | 2,715 | ||||||
Central Japan Railway Co. | 100 | 22,435 | ||||||
Chugai Pharmaceutical Co. Ltd. | 200 | 13,600 | ||||||
CyberAgent, Inc. | 100 | 3,113 | ||||||
Dai Nippon Printing Co. Ltd. | 200 | 4,632 | ||||||
Daicel Corp. | 200 | 2,106 | ||||||
Daifuku Co. Ltd. | 100 | 4,905 | ||||||
Daikin Industries Ltd. | 200 | 21,721 | ||||||
Daiwa House Industry Co. Ltd. | 400 | 12,379 | ||||||
Denso Corp. | 300 | 12,887 | ||||||
Dentsu, Inc. | 200 | 8,354 | ||||||
East Japan Railway Co. | 200 | 19,152 | ||||||
Eisai Co. Ltd. | 200 | 16,520 |
Number | Value | |||||||
Japan (Continued) | ||||||||
Fujitsu Ltd. | 200 | $ | 13,491 | |||||
Hino Motors Ltd. | 200 | 1,838 | ||||||
Hitachi Chemical Co. Ltd. | 100 | 1,816 | ||||||
Hitachi Construction Machinery Co. Ltd. | 100 | 2,496 | ||||||
Hitachi High-Technologies Corp. | 100 | 3,804 | ||||||
Hitachi Metals Ltd. | 200 | 2,037 | ||||||
Honda Motor Co. Ltd. | 1,200 | 33,989 | ||||||
Hulic Co. Ltd. | 200 | 1,838 | ||||||
Inpex Corp. | 700 | 6,810 | ||||||
J. Front Retailing Co. Ltd. (b) | 200 | 2,215 | ||||||
Japan Retail Fund Investment Corp. REIT | 2 | 4,032 | ||||||
JFE Holdings, Inc. | 400 | 6,976 | ||||||
Kajima Corp. | 300 | 4,441 | ||||||
Kansai Paint Co. Ltd. | 100 | 1,839 | ||||||
Kao Corp. | 400 | 30,270 | ||||||
Kawasaki Heavy Industries Ltd. | 100 | 2,569 | ||||||
KDDI Corp. | 1,300 | 31,396 | ||||||
Keio Corp. | 100 | 5,875 | ||||||
Keyence Corp. | 100 | 58,327 | ||||||
Kikkoman Corp. | 100 | 4,977 | ||||||
Kobe Steel Ltd. | 200 | 1,583 | ||||||
Komatsu Ltd. | 700 | 17,173 | ||||||
Konica Minolta, Inc. | 300 | 2,911 | ||||||
Kubota Corp. | 700 | 9,448 | ||||||
Kuraray Co. Ltd. | 200 | 2,684 | ||||||
Kurita Water Industries Ltd. | 100 | 2,519 | ||||||
Kyocera Corp. | 200 | 11,033 | ||||||
Kyushu Railway Co. | 100 | 3,423 | ||||||
Marui Group Co. Ltd. | 200 | 3,520 | ||||||
Mazda Motor Corp. | 400 | 4,698 | ||||||
McDonald’s Holdings Co. Japan Ltd. | 100 | 4,483 | ||||||
Mitsubishi Chemical Holdings Corp. | 900 | 6,645 | ||||||
Mitsubishi Electric Corp. | 1,400 | 17,531 | ||||||
Mitsubishi Estate Co. Ltd. | 900 | 15,466 | ||||||
Mitsubishi Materials Corp. | 100 | 2,749 | ||||||
Mitsubishi UFJ Lease & Finance Co. Ltd. | 300 | 1,528 | ||||||
Mitsui Chemicals, Inc. | 100 | 2,437 | ||||||
Mitsui Fudosan Co. Ltd. | 700 | 16,585 | ||||||
Mitsui OSK Lines Ltd. | 100 | 2,345 | ||||||
Mizuho Financial Group, Inc. | 17,300 | 27,227 | ||||||
Murata Manufacturing Co. Ltd. | 100 | 15,563 | ||||||
Nabtesco Corp. | 100 | 2,640 | ||||||
Nagoya Railroad Co. Ltd. | 100 | 2,753 | ||||||
NEC Corp. | 200 | 6,674 | ||||||
NGK Insulators Ltd. | 200 | 3,052 | ||||||
NGK Spark Plug Co. Ltd. | 100 | 2,125 | ||||||
Nikon Corp. | 200 | 3,029 | ||||||
Nintendo Co. Ltd. | 100 | 27,345 | ||||||
Nippon Express Co. Ltd. | 100 | 5,902 | ||||||
Nippon Prologis REIT, Inc. REIT | 1 | 2,127 | ||||||
Nippon Yusen KK | 100 | 1,577 | ||||||
Nitori Holdings Co. Ltd. | 100 | 12,473 | ||||||
Nitto Denko Corp. | 100 | 5,338 | ||||||
Nomura Real Estate Holdings, Inc. | 100 | 1,895 | ||||||
Nomura Research Institute Ltd. | 100 | 4,069 | ||||||
NSK Ltd. | 300 | 2,757 | ||||||
NTT DOCOMO, Inc. | 1,000 | 23,280 |
See Notes to Financial Statements. | 9 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Japan (Continued) | ||||||||
Obayashi Corp. | 400 | $ | 3,899 | |||||
Odakyu Electric Railway Co. Ltd. | 200 | 4,673 | ||||||
Omron Corp. | 100 | 4,316 | ||||||
Oriental Land Co. Ltd. | 100 | 10,986 | ||||||
Osaka Gas Co. Ltd. | 300 | 6,144 | ||||||
Otsuka Corp. | 100 | 3,598 | ||||||
Panasonic Corp. | 1,600 | 14,732 | ||||||
Rakuten, Inc. | 600 | 4,722 | ||||||
Recruit Holdings Co. Ltd. | 800 | 22,379 | ||||||
Resona Holdings, Inc. | 1,500 | 6,782 | ||||||
Secom Co. Ltd. | 200 | 17,284 | ||||||
Sekisui Chemical Co. Ltd. | 300 | 4,708 | ||||||
Sekisui House Ltd. | 400 | 6,013 | ||||||
Seven & i Holdings Co. Ltd. | 600 | 26,378 | ||||||
Sharp Corp. | 200 | 2,339 | ||||||
Shimadzu Corp. | 200 | 4,932 | ||||||
Shimizu Corp. | 400 | 3,514 | ||||||
Shin-Etsu Chemical Co. Ltd. | 300 | 24,985 | ||||||
Shiseido Co. Ltd. | 300 | 19,802 | ||||||
Showa Denko KK | 100 | 3,724 | ||||||
Showa Shell Sekiyu KK | 100 | 1,500 | ||||||
Sohgo Security Services Co. Ltd. | 100 | 4,321 | ||||||
Sompo Holdings, Inc. | 200 | 7,469 | ||||||
Sony Corp. | 900 | 43,181 | ||||||
Stanley Electric Co. Ltd. | 100 | 2,875 | ||||||
Sumitomo Chemical Co. Ltd. | 1,100 | 5,455 | ||||||
Sumitomo Electric Industries Ltd. | 500 | 6,957 | ||||||
Sumitomo Heavy Industries Ltd. | 100 | 3,423 | ||||||
Sumitomo Metal Mining Co. Ltd. | 200 | 5,864 | ||||||
Sumitomo Mitsui Trust Holdings, Inc. | 200 | 7,580 | ||||||
Sumitomo Rubber Industries Ltd. | 100 | 1,286 | ||||||
Suntory Beverage & Food Ltd. | 100 | 4,411 | ||||||
Sysmex Corp. | 100 | 6,018 | ||||||
T&D Holdings, Inc. | 400 | 4,802 | ||||||
Taisei Corp. | 200 | 9,450 | ||||||
Takashimaya Co. Ltd. (b) | 100 | 1,316 | ||||||
Takeda Pharmaceutical Co. Ltd. | 1,100 | 44,160 | ||||||
TDK Corp. | 100 | 7,815 | ||||||
Teijin Ltd. | 100 | 1,677 | ||||||
Tobu Railway Co. Ltd. | 100 | 2,794 | ||||||
Toho Co. Ltd. | 100 | 3,575 | ||||||
Toho Gas Co. Ltd. | 100 | 4,545 | ||||||
Tokyo Electron Ltd. | 100 | 13,609 | ||||||
Tokyo Gas Co. Ltd. | 300 | 8,260 | ||||||
Tokyu Corp. | 400 | 6,780 | ||||||
Tokyu Fudosan Holdings Corp. | 400 | 2,210 | ||||||
Toppan Printing Co. Ltd. | 200 | 3,184 | ||||||
Toray Industries, Inc. | 1,000 | 6,966 | ||||||
TOTO Ltd. | 100 | 3,786 | ||||||
Toyo Suisan Kaisha Ltd. | 100 | 3,710 | ||||||
Toyota Tsusho Corp. | 200 | 6,351 | ||||||
Unicharm Corp. | 300 | 9,554 | ||||||
USS Co. Ltd. | 200 | 3,644 | ||||||
West Japan Railway Co. | 100 | 7,538 | ||||||
Yakult Honsha Co. Ltd. | 100 | 6,710 | ||||||
Yamada Denki Co. Ltd. | 400 | 1,933 | ||||||
Yamaha Corp. | 100 | 4,923 |
Number | Value | |||||||
Japan (Continued) | ||||||||
Yamaha Motor Co. Ltd. | 200 | $ | 4,055 | |||||
Yaskawa Electric Corp. (b) | 200 | 5,686 | ||||||
Yokogawa Electric Corp. | 200 | 3,852 | ||||||
|
| |||||||
1,204,775 | ||||||||
|
| |||||||
Luxembourg — 0.2% | ||||||||
Millicom International Cellular SA SDR | 52 | 3,132 | ||||||
SES SA | 269 | 5,411 | ||||||
Tenaris SA | 322 | 4,301 | ||||||
|
| |||||||
12,844 | ||||||||
|
| |||||||
Malaysia — 0.8% | ||||||||
AMMB Holdings Bhd | 1,400 | 1,539 | ||||||
Axiata Group Bhd | 2,100 | 2,148 | ||||||
CIMB Group Holdings Bhd | 3,400 | 4,891 | ||||||
DiGi.Com Bhd | 2,500 | 2,797 | ||||||
HAP Seng Consolidated Bhd | 500 | 1,211 | ||||||
Hartalega Holdings Bhd | 1,000 | 1,230 | ||||||
Hong Leong Bank Bhd | 500 | 2,617 | ||||||
IHH Healthcare Bhd | 1,900 | 2,677 | ||||||
Malayan Banking Bhd | 2,800 | 6,562 | ||||||
Malaysia Airports Holdings Bhd | 900 | 1,808 | ||||||
Maxis Bhd | 2,100 | 2,773 | ||||||
MISC Bhd | 900 | 1,527 | ||||||
Nestle Malaysia Bhd | 100 | 3,640 | ||||||
PPB Group Bhd | 700 | 3,161 | ||||||
Press Metal Aluminium Holdings Bhd | 1,100 | 1,144 | ||||||
Public Bank Bhd | 2,100 | 12,910 | ||||||
RHB Bank Bhd | 900 | 1,253 | ||||||
Sime Darby Bhd | 2,000 | 1,067 | ||||||
Tenaga Nasional Bhd | 2,300 | 7,590 | ||||||
Top Glove Corp. Bhd | 1,000 | 1,117 | ||||||
Westports Holdings Bhd | 1,100 | 998 | ||||||
|
| |||||||
64,660 | ||||||||
|
| |||||||
Mexico — 0.5% | ||||||||
Alfa SAB de CV, Class A | 2,091 | 2,382 | ||||||
Alsea SAB de CV | 700 | 1,773 | ||||||
Arca Continental SAB de CV | 349 | 1,968 | ||||||
Cemex SAB de CV, Series CPO* | 11,057 | 5,428 | ||||||
Coca-Cola Femsa SAB de CV, Series L | 384 | 2,324 | ||||||
Fomento Economico Mexicano SAB de CV | 1,459 | 13,242 | ||||||
Gruma SAB de CV, Class B | 161 | 1,745 | ||||||
Grupo Aeroportuario del Sureste SAB de CV, Class B | 173 | 2,936 | ||||||
Grupo Bimbo SAB de CV, Series A | 1,236 | 2,452 | ||||||
Industrias Penoles SAB de CV | 103 | 1,365 | ||||||
Infraestructura Energetica Nova SAB de CV | 331 | 1,273 | ||||||
Kimberly-Clark de Mexico SAB de CV, Class A* | 1,156 | 1,869 | ||||||
|
| |||||||
38,757 | ||||||||
|
| |||||||
Netherlands — 3.0% | ||||||||
Aegon NV | 1,443 | 7,769 | ||||||
Akzo Nobel NV | 165 | 14,980 | ||||||
ASML Holding NV | 307 | 56,325 | ||||||
EXOR NV | 85 | 5,236 | ||||||
ING Groep NV | 2,860 | 37,882 |
See Notes to Financial Statements. | 10 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Netherlands (Continued) | ||||||||
Koninklijke Ahold Delhaize NV | 920 | $ | 23,754 | |||||
Koninklijke DSM NV | 136 | 14,619 | ||||||
Koninklijke KPN NV | 2,496 | 7,708 | ||||||
Koninklijke Philips NV | 698 | 27,819 | ||||||
Koninklijke Vopak NV | 47 | 2,301 | ||||||
NN Group NV | 237 | 10,336 | ||||||
QIAGEN NV* | 164 | 6,278 | ||||||
Wolters Kluwer NV | 216 | 14,261 | ||||||
|
| |||||||
229,268 | ||||||||
|
| |||||||
New Zealand — 0.1% | ||||||||
Auckland International Airport Ltd. | 706 | 3,738 | ||||||
Fletcher Building Ltd.* | 728 | 2,426 | ||||||
Meridian Energy Ltd. | 827 | 2,080 | ||||||
Ryman Healthcare Ltd. | 374 | 2,804 | ||||||
|
| |||||||
11,048 | ||||||||
|
| |||||||
Norway — 0.7% | ||||||||
Aker BP ASA | 70 | 2,375 | ||||||
Equinor ASA | 831 | 18,703 | ||||||
Mowi ASA (b) | 310 | 7,160 | ||||||
Norsk Hydro ASA | 954 | 3,956 | ||||||
Orkla ASA | 628 | 4,954 | ||||||
Schibsted ASA, Class B | 73 | 2,708 | ||||||
Telenor ASA | 537 | 10,484 | ||||||
|
| |||||||
50,340 | ||||||||
|
| |||||||
Philippines — 0.4% | ||||||||
Aboitiz Equity Ventures, Inc. | 1,620 | 1,911 | ||||||
Ayala Land, Inc. | 6,000 | 5,104 | ||||||
Bank of the Philippine Islands | 790 | 1,283 | ||||||
BDO Unibank, Inc. | 1,500 | 3,701 | ||||||
Globe Telecom, Inc. | 30 | 1,102 | ||||||
JG Summit Holdings, Inc. | 1,700 | 2,176 | ||||||
Manila Electric Co. | 150 | 1,066 | ||||||
Metropolitan Bank & Trust Co. | 1,400 | 2,057 | ||||||
PLDT, Inc. | 70 | 1,394 | ||||||
SM Investments Corp. | 160 | 2,908 | ||||||
SM Prime Holdings, Inc. | 8,000 | 5,932 | ||||||
|
| |||||||
28,634 | ||||||||
|
| |||||||
Poland — 0.3% | ||||||||
Bank Millennium SA* | 409 | 936 | ||||||
Bank Polska Kasa Opieki SA | 118 | 3,538 | ||||||
CD Projekt SA* | 53 | 2,667 | ||||||
KGHM Polska Miedz SA* | 94 | 2,520 | ||||||
mBank SA | 10 | 1,131 | ||||||
Polski Koncern Naftowy ORLEN SA | 218 | 5,879 | ||||||
Polskie Gornictwo Naftowe i Gazownictwo SA | 1,193 | 2,185 | ||||||
Powszechny Zaklad Ubezpieczen SA | 423 | 4,568 | ||||||
Santander Bank Polska SA | 23 | 2,291 | ||||||
|
| |||||||
25,715 | ||||||||
|
| |||||||
Portugal — 0.2% | ||||||||
EDP — Energias de Portugal SA | 1,827 | 6,709 | ||||||
Galp Energia SGPS SA | 353 | 5,800 | ||||||
Jeronimo Martins SGPS SA | 203 | 3,063 | ||||||
|
| |||||||
15,572 | ||||||||
|
|
Number | Value | |||||||
Qatar — 0.0% | ||||||||
Commercial Bank QSC | 138 | $ | 1,520 | |||||
Ooredoo QPSC | 67 | 1,233 | ||||||
|
| |||||||
2,753 | ||||||||
|
| |||||||
Romania — 0.0% | ||||||||
NEPI Rockcastle PLC | 275 | 2,315 | ||||||
|
| |||||||
Russia — 0.6% | ||||||||
Inter RAO UES PJSC | 26,571 | 1,579 | ||||||
LUKOIL PJSC | 356 | 29,719 | ||||||
Novatek PJSC, GDR | 66 | 11,438 | ||||||
PhosAgro PJSC, GDR | 105 | 1,434 | ||||||
Polymetal International PLC | 125 | 1,476 | ||||||
Polyus PJSC | 21 | 1,743 | ||||||
|
| |||||||
47,389 | ||||||||
|
| |||||||
Singapore — 0.9% | ||||||||
Ascendas Real Estate Investment Trust REIT | 1,700 | 3,523 | ||||||
BOC Aviation Ltd., 144A | 179 | 1,548 | ||||||
CapitaLand Commercial Trust REIT | 1,800 | 2,584 | ||||||
CapitaLand Ltd. | 1,800 | 4,556 | ||||||
CapitaLand Mall Trust REIT | 1,800 | 3,197 | ||||||
City Developments Ltd. | 300 | 1,981 | ||||||
DBS Group Holdings Ltd. | 1,300 | 23,899 | ||||||
Jardine Cycle & Carriage Ltd. | 100 | 2,468 | ||||||
Keppel Corp. Ltd. | 1,200 | 5,471 | ||||||
Singapore Airlines Ltd. | 400 | 2,963 | ||||||
Singapore Press Holdings Ltd. | 1,400 | 2,549 | ||||||
Singapore Telecommunications Ltd. | 6,000 | 13,410 | ||||||
UOL Group Ltd. | 200 | 981 | ||||||
|
| |||||||
69,130 | ||||||||
|
| |||||||
South Africa — 2.6% | ||||||||
Absa Group Ltd. (b) | 507 | 6,512 | ||||||
Anglo American Platinum Ltd. (b) | 37 | 2,017 | ||||||
Aspen Pharmacare Holdings Ltd. | 289 | 2,866 | ||||||
Bid Corp. Ltd. | 268 | 5,617 | ||||||
Bidvest Group Ltd. (b) | 240 | 3,552 | ||||||
Clicks Group Ltd. | 194 | 2,493 | ||||||
Exxaro Resources Ltd. | 171 | 1,845 | ||||||
FirstRand Ltd. | 2,454 | 11,223 | ||||||
Foschini Group Ltd. | 192 | 2,346 | ||||||
Growthpoint Properties Ltd. REIT | 2,335 | 4,056 | ||||||
Hyprop Investments Ltd. REIT | 255 | 1,405 | ||||||
Investec Ltd. | 267 | 1,739 | ||||||
Investec PLC | 465 | 3,048 | ||||||
Kumba Iron Ore Ltd. | 42 | 1,115 | ||||||
Life Healthcare Group Holdings Ltd. | 934 | 1,798 | ||||||
Mr Price Group Ltd. | 212 | 3,255 | ||||||
MTN Group Ltd. | 1,249 | 7,419 | ||||||
MultiChoice Group Ltd.* | 320 | 2,391 | ||||||
Naspers Ltd., Class N | 325 | 70,395 | ||||||
Nedbank Group Ltd. (b) | 290 | 5,866 | ||||||
Netcare Ltd. | 936 | 1,694 | ||||||
Pick n Pay Stores Ltd. | 305 | 1,504 | ||||||
Redefine Properties Ltd. REIT | 4,370 | 3,018 | ||||||
Remgro Ltd. | 410 | 5,867 |
See Notes to Financial Statements. | 11 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
South Africa (Continued) | ||||||||
Resilient REIT Ltd. REIT | 256 | $ | 1,120 | |||||
RMB Holdings Ltd. | 489 | 2,787 | ||||||
Sanlam Ltd. | 1,309 | 7,326 | ||||||
Sappi Ltd. | 422 | 2,169 | ||||||
Sasol Ltd. (b) | 419 | 12,811 | ||||||
Shoprite Holdings Ltd. (b) | 317 | 3,871 | ||||||
SPAR Group Ltd. | 143 | 2,031 | ||||||
Standard Bank Group Ltd. | 927 | 12,775 | ||||||
Vodacom Group Ltd. | 442 | 3,650 | ||||||
Woolworths Holdings Ltd. (b) | 771 | 2,511 | ||||||
|
| |||||||
204,092 | ||||||||
|
| |||||||
South Korea — 2.5% | ||||||||
Amorepacific Corp. | 27 | 4,801 | ||||||
AMOREPACIFIC Group | 25 | 1,629 | ||||||
BNK Financial Group, Inc. | 241 | 1,519 | ||||||
CJ CheilJedang Corp. | 7 | 2,004 | ||||||
CJ Corp. | 12 | 1,334 | ||||||
Coway Co. Ltd. | 41 | 3,449 | ||||||
Daelim Industrial Co. Ltd. | 21 | 1,748 | ||||||
DGB Financial Group, Inc. | 217 | 1,636 | ||||||
GS Engineering & Construction Corp. | 46 | 1,751 | ||||||
GS Holdings Corp. | 38 | 1,811 | ||||||
Hana Financial Group, Inc. | 223 | 7,703 | ||||||
Hankook Tire Co. Ltd. | 59 | 2,243 | ||||||
Hanon Systems | 153 | 1,694 | ||||||
Hanwha Chemical Corp. | 92 | 1,914 | ||||||
Hotel Shilla Co. Ltd. | 24 | 1,750 | ||||||
Hyundai Engineering & Construction Co. Ltd. | 57 | 2,899 | ||||||
Hyundai Marine & Fire Insurance Co. Ltd. | 48 | 1,609 | ||||||
Industrial Bank of Korea | 189 | 2,344 | ||||||
KB Financial Group, Inc. | 294 | 11,593 | ||||||
LG Chem Ltd. | 36 | 12,499 | ||||||
LG Corp. | 70 | 4,668 | ||||||
LG Display Co. Ltd. | 169 | 3,193 | ||||||
LG Electronics, Inc. | 81 | 5,077 | ||||||
LG Household & Health Care Ltd. | 7 | 7,755 | ||||||
LG Innotek Co. Ltd. | 18 | 1,728 | ||||||
Lotte Chemical Corp. | 13 | 3,687 | ||||||
Lotte Corp. | 25 | 1,180 | ||||||
NAVER Corp. | 106 | 12,535 | ||||||
OCI Co. Ltd. | 14 | 1,344 | ||||||
Samsung Electro-Mechanics Co. Ltd. | 40 | 3,805 | ||||||
Samsung Fire & Marine Insurance Co. Ltd. | 23 | 6,166 | ||||||
Samsung SDI Co. Ltd. | 40 | 8,447 | ||||||
Samsung SDS Co. Ltd. | 27 | 5,534 | ||||||
Shinhan Financial Group Co. Ltd. | 317 | 12,303 | ||||||
SK Holdings Co. Ltd. | 24 | 5,815 | ||||||
SK Hynix, Inc. | 427 | 26,576 | ||||||
SK Innovation Co. Ltd. | 47 | 7,856 | ||||||
SK Telecom Co. Ltd. | 17 | 3,938 | ||||||
S-Oil Corp. | 33 | 2,934 | ||||||
Yuhan Corp. | 6 | 1,390 | ||||||
|
| |||||||
193,861 | ||||||||
|
|
Number | Value | |||||||
Spain — 2.8% | ||||||||
Amadeus IT Group SA | 329 | $ | 24,801 | |||||
Banco Bilbao Vizcaya Argentaria SA | 4,875 | 30,387 | ||||||
Banco de Sabadell SA | 4,377 | 4,991 | ||||||
Bankinter SA | 505 | 4,153 | ||||||
CaixaBank SA | 2,656 | 9,484 | ||||||
Enagas SA | 147 | 4,193 | ||||||
Ferrovial SA | 332 | 7,659 | ||||||
Grifols SA | 216 | 5,623 | ||||||
Iberdrola SA | 4,589 | 38,418 | ||||||
Industria de Diseno Textil SA | 837 | 25,295 | ||||||
Naturgy Energy Group SA | 237 | 6,442 | ||||||
Red Electrica Corp. SA | 328 | 7,096 | ||||||
Repsol SA | 1,018 | 17,533 | ||||||
Telefonica SA | 3,458 | 29,883 | ||||||
|
| |||||||
215,958 | ||||||||
|
| |||||||
Sweden — 2.4% | ||||||||
Assa Abloy AB, Class B | 730 | 15,109 | ||||||
Atlas Copco AB, Class A | 517 | 14,016 | ||||||
Atlas Copco AB, Class B | 253 | 6,353 | ||||||
Boliden AB | 195 | 5,339 | ||||||
Essity AB, Class B | 444 | 12,395 | ||||||
Hennes & Mauritz AB, Class B | 651 | 9,858 | ||||||
Husqvarna AB, Class B | 321 | 2,633 | ||||||
ICA Gruppen AB (b) | 60 | 2,308 | ||||||
Investor AB, Class B | 348 | 15,551 | ||||||
Kinnevik AB, Class B | 194 | 4,918 | ||||||
L E Lundbergforetagen AB, Class B | 72 | 2,222 | ||||||
Sandvik AB | 803 | 13,201 | ||||||
Skandinaviska Enskilda Banken AB, Class A | 1,160 | 11,815 | ||||||
Skanska AB, Class B | 250 | 4,512 | ||||||
SKF AB, Class B | 253 | 4,261 | ||||||
Svenska Handelsbanken AB, Class A | 1,080 | 12,326 | ||||||
Swedbank AB, Class A | 651 | 11,968 | ||||||
Tele2 AB, Class B | 361 | 4,758 | ||||||
Telefonaktiebolaget LM Ericsson, Class B | 2,360 | 21,614 | ||||||
Telia Co. AB | 2,049 | 8,899 | ||||||
|
| |||||||
184,056 | ||||||||
|
| |||||||
Switzerland — 5.3% | ||||||||
ABB Ltd. | 1,387 | 27,519 | ||||||
Adecco Group AG | 120 | 6,247 | ||||||
Chocoladefabriken Lindt & Spruengli AG Participation Certificates | 1 | 6,515 | ||||||
Cie Financiere Richemont SA | 394 | 30,232 | ||||||
Clariant AG* | 145 | 3,122 | ||||||
Coca-Cola HBC AG* | 147 | 4,958 | ||||||
Ferguson PLC | 170 | 11,805 | ||||||
Givaudan SA | 7 | 17,546 | ||||||
Kuehne + Nagel International AG | 41 | 5,361 | ||||||
LafargeHolcim Ltd.* | 353 | 17,505 | ||||||
Lonza Group AG* | 53 | 14,764 | ||||||
Roche Holding AG | 524 | 145,859 | ||||||
SGS SA | 4 | 10,219 | ||||||
Sika AG | 95 | 12,874 | ||||||
Sonova Holding AG | 41 | 7,682 |
See Notes to Financial Statements. | 12 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Switzerland (Continued) | ||||||||
STMicroelectronics NV | 524 | $ | 8,574 | |||||
Straumann Holding AG | 8 | 6,256 | ||||||
Swiss Re AG | 230 | 22,815 | ||||||
Swisscom AG | 19 | 8,813 | ||||||
Vifor Pharma AG | 33 | 4,139 | ||||||
Zurich Insurance Group AG | 111 | 36,770 | ||||||
|
| |||||||
409,575 | ||||||||
|
| |||||||
Taiwan — 3.9% | ||||||||
Acer, Inc.* | 2,216 | 1,465 | ||||||
Advantech Co. Ltd. | 243 | 1,855 | ||||||
ASE Technology Holding Co. Ltd.* | 2,612 | 5,338 | ||||||
Asustek Computer, Inc. | 526 | 3,751 | ||||||
AU Optronics Corp. | 5,940 | 2,191 | ||||||
Catcher Technology Co. Ltd. | 471 | 3,581 | ||||||
Chailease Holding Co. Ltd. | 940 | 3,696 | ||||||
Cheng Shin Rubber Industry Co. Ltd. | 1,499 | 2,131 | ||||||
China Steel Corp. | 8,819 | 7,307 | ||||||
Chunghwa Telecom Co. Ltd. | 2,878 | 10,006 | ||||||
Compal Electronics, Inc. | 3,481 | 2,160 | ||||||
CTBC Financial Holding Co. Ltd. | 13,085 | 8,865 | ||||||
Delta Electronics, Inc. | 1,485 | 7,407 | ||||||
E.Sun Financial Holding Co. Ltd. | 7,058 | 5,068 | ||||||
Eclat Textile Co. Ltd. | 144 | 1,649 | ||||||
Far Eastern New Century Corp. | 2,498 | 2,476 | ||||||
Far EasTone Telecommunications Co. Ltd. | 1,268 | 2,971 | ||||||
Feng TAY Enterprise Co. Ltd. | 263 | 1,654 | ||||||
First Financial Holding Co. Ltd. | 6,887 | 4,654 | ||||||
Fubon Financial Holding Co. Ltd. | 5,213 | 7,707 | ||||||
Giant Manufacturing Co. Ltd. | 300 | 1,652 | ||||||
Hiwin Technologies Corp. | 162 | 1,458 | ||||||
Hotai Motor Co. Ltd. | 331 | 3,598 | ||||||
Innolux Corp. | 7,081 | 2,358 | ||||||
Inventec Corp. | 1,950 | 1,508 | ||||||
Lite-On Technology Corp. | 1,579 | 2,286 | ||||||
MediaTek, Inc. | 1,101 | 10,017 | ||||||
Micro-Star International Co. Ltd. | 513 | 1,363 | ||||||
Nan Ya Plastics Corp. | 4,026 | 10,060 | ||||||
President Chain Store Corp. | 448 | 4,636 | ||||||
Quanta Computer, Inc. | 1,910 | 3,550 | ||||||
SinoPac Financial Holdings Co. Ltd. | 7,805 | 2,726 | ||||||
Taishin Financial Holding Co. Ltd. | 7,276 | 3,298 | ||||||
Taiwan Business Bank | 3,165 | 1,167 | ||||||
Taiwan High Speed Rail Corp. | 1,537 | 1,648 | ||||||
Taiwan Mobile Co. Ltd. | 1,259 | 4,500 | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd. | 18,308 | 142,174 | ||||||
Uni-President Enterprises Corp. | 3,686 | 8,982 | ||||||
United Microelectronics Corp. | 9,051 | 3,367 | ||||||
Vanguard International Semiconductor Corp. | 647 | 1,457 | ||||||
Wistron Corp. | 2,104 | 1,460 | ||||||
Yuanta Financial Holding Co. Ltd. | 7,871 | 4,463 | ||||||
|
| |||||||
303,660 | ||||||||
|
| |||||||
Thailand — 0.9% | ||||||||
Advanced Info Service PCL, NVDR | 800 | 4,620 | ||||||
Airports of Thailand PCL, NVDR | 3,100 | 6,640 |
Number | Value | |||||||
Thailand (Continued) | ||||||||
Bangkok Dusit Medical Services PCL, NVDR | 1,700 | $ | 1,273 | |||||
Banpu PCL, NVDR | 2,800 | 1,448 | ||||||
BTS Group Holdings PCL, NVDR | 7,800 | 2,574 | ||||||
Bumrungrad Hospital PCL, NVDR | 300 | 1,775 | ||||||
Central Pattana PCL, NVDR | 1,400 | 3,354 | ||||||
CP ALL PCL, NVDR | 3,400 | 8,389 | ||||||
Delta Electronics Thailand PCL, NVDR | 700 | 1,610 | ||||||
Electricity Generating PCL, NVDR | 200 | 1,695 | ||||||
Glow Energy PCL, NVDR | 600 | 1,733 | ||||||
Home Product Center PCL, NVDR | 4,800 | 2,285 | ||||||
Indorama Ventures PCL, NVDR | 1,800 | 2,942 | ||||||
IRPC PCL, NVDR | 6,600 | 1,236 | ||||||
Kasikornbank PCL, NVDR | 900 | 5,641 | ||||||
Krung Thai Bank PCL, NVDR | 3,900 | 2,389 | ||||||
Land & Houses PCL, NVDR | 4,800 | 1,599 | ||||||
Minor International PCL, NVDR | 1,600 | 1,967 | ||||||
PTT Global Chemical PCL, NVDR | 1,700 | 3,884 | ||||||
Robinson PCL, NVDR | 700 | 1,433 | ||||||
Siam Cement PCL, NVDR | 300 | 4,513 | ||||||
Siam Commercial Bank PCL, NVDR | 1,400 | 5,953 | ||||||
Thai Oil PCL, NVDR | 700 | 1,605 | ||||||
TMB Bank PCL, NVDR | 21,600 | 1,563 | ||||||
True Corp. PCL, NVDR | 5,900 | 1,011 | ||||||
|
| |||||||
73,132 | ||||||||
|
| |||||||
Turkey — 0.1% | ||||||||
KOC Holding AS | 746 | 2,607 | ||||||
Tupras Turkiye Petrol Rafinerileri AS | 99 | 2,663 | ||||||
|
| |||||||
5,270 | ||||||||
|
| |||||||
United Arab Emirates — 0.3% | ||||||||
Abu Dhabi Commercial Bank PJSC | 1,592 | 4,131 | ||||||
DP World Ltd. | 137 | 2,193 | ||||||
Dubai Islamic Bank PJSC | 1,453 | 2,065 | ||||||
First Abu Dhabi Bank PJSC | 1,987 | 8,223 | ||||||
NMC Health PLC | 76 | 2,733 | ||||||
|
| |||||||
19,345 | ||||||||
|
| |||||||
United Kingdom — 8.6% | ||||||||
3i Group PLC | 768 | 9,662 | ||||||
Associated British Foods PLC | 262 | 7,817 | ||||||
Aviva PLC | 2,991 | 16,836 | ||||||
Barratt Developments PLC | 808 | 6,438 | ||||||
Berkeley Group Holdings PLC | 102 | 5,359 | ||||||
British Land Co. PLC REIT | 710 | 5,706 | ||||||
BT Group PLC | 6,174 | 17,631 | ||||||
Burberry Group PLC | 313 | 7,866 | ||||||
CNH Industrial NV | 738 | 8,004 | ||||||
Coca-Cola European Partners PLC | 165 | 7,778 | ||||||
Compass Group PLC | 1,158 | 25,645 | ||||||
ConvaTec Group PLC, 144A | 1,027 | 1,812 | ||||||
Croda International PLC | 88 | 5,631 | ||||||
easyJet PLC | 117 | 1,910 | ||||||
GlaxoSmithKline PLC | 3,661 | 72,916 | ||||||
InterContinental Hotels Group PLC | 132 | 7,917 | ||||||
Intertek Group PLC | 116 | 7,847 | ||||||
ITV PLC | 2,732 | 4,764 |
See Notes to Financial Statements. | 13 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
United Kingdom (Continued) | ||||||||
J Sainsbury PLC | 1,332 | $ | 4,057 | |||||
John Wood Group PLC | 502 | 3,475 | ||||||
Johnson Matthey PLC | 140 | 5,760 | ||||||
Kingfisher PLC | 1,799 | 5,793 | ||||||
Legal & General Group PLC | 4,727 | 17,642 | ||||||
London Stock Exchange Group PLC | 231 | 13,848 | ||||||
Marks & Spencer Group PLC | 1,285 | 4,666 | ||||||
Meggitt PLC | 540 | 3,873 | ||||||
Merlin Entertainments PLC, 144A | 570 | 2,742 | ||||||
Mondi Ltd. | 111 | 2,615 | ||||||
Mondi PLC | 235 | 5,403 | ||||||
National Grid PLC | 2,532 | 28,556 | ||||||
Next PLC | 114 | 7,715 | ||||||
Pearson PLC | 580 | 6,527 | ||||||
Prudential PLC | 1,895 | 40,077 | ||||||
Reckitt Benckiser Group PLC | 490 | 37,586 | ||||||
RELX PLC | 1,426 | 32,794 | ||||||
Royal Mail PLC | 660 | 2,483 | ||||||
RSA Insurance Group PLC | 778 | 5,288 | ||||||
Schroders PLC | 107 | 3,892 | ||||||
Segro PLC REIT | 854 | 7,508 | ||||||
Smith & Nephew PLC | 632 | 12,076 | ||||||
SSE PLC | 712 | 11,255 | ||||||
Standard Chartered PLC | 2,017 | 16,140 | ||||||
Standard Life Aberdeen PLC | 1,754 | 5,757 | ||||||
Taylor Wimpey PLC | 2,688 | 6,486 | ||||||
Tesco PLC | 7,183 | 21,592 | ||||||
Unilever NV | 1,159 | 62,774 | ||||||
Unilever PLC | 829 | 44,194 | ||||||
Whitbread PLC | 139 | 8,972 | ||||||
Wm Morrison Supermarkets PLC | 1,741 | 5,328 | ||||||
WPP PLC | 924 | 10,149 | ||||||
|
| |||||||
668,562 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 7,466,568 | |||||||
|
| |||||||
PREFERRED STOCKS — 1.4% | ||||||||
Brazil — 1.0% | ||||||||
Banco Bradesco SA | 2,451 | 28,279 | ||||||
Cia Brasileira de Distribuicao | 118 | 2,930 | ||||||
Cia Energetica de Minas Gerais | 642 | 2,465 | ||||||
Itau Unibanco Holding SA | 3,538 | 33,236 |
Number | Value | |||||||
Brazil (Continued) | ||||||||
Itausa — Investimentos Itau SA | 3,246 | $ | 10,707 | |||||
Telefonica Brasil SA | 338 | 4,217 | ||||||
|
| |||||||
81,834 | ||||||||
|
| |||||||
Chile — 0.1% | ||||||||
Embotelladora Andina SA, Class B | 379 | 1,421 | ||||||
Sociedad Quimica y Minera de Chile SA, Class B | 92 | 3,828 | ||||||
|
| |||||||
5,249 | ||||||||
|
| |||||||
Germany — 0.3% | ||||||||
Bayerische Motoren Werke AG | 36 | 2,661 | ||||||
Henkel AG & Co. KGaA | 134 | 13,403 | ||||||
Sartorius AG | 27 | 4,286 | ||||||
|
| |||||||
20,350 | ||||||||
|
| |||||||
South Korea — 0.0% | ||||||||
CJ Corp.*(c) | 1 | 7 | ||||||
LG Household & Health Care Ltd. | 2 | 1,332 | ||||||
|
| |||||||
1,339 | ||||||||
|
| |||||||
TOTAL PREFERRED STOCKS | 108,772 | |||||||
|
| |||||||
RIGHTS — 0.0% | ||||||||
Taiwan — 0.0% | ||||||||
CTBC Financial Holding Co. Ltd.*, expires 4/1/ 2019 | 87 | 0 | ||||||
|
| |||||||
SECURITIES LENDING COLLATERAL — 1.0% | ||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares” , 2.31% (d)(e) | 79,663 | 79,663 | ||||||
|
| |||||||
CASH EQUIVALENTS — 1.9% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 2.38% (d) | 150,318 | 150,318 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 100.6% | $ | 7,805,321 | ||||||
Other assets and liabilities, net — (0.6%) | (47,200 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 7,758,121 | ||||||
|
|
See Notes to Financial Statements. | 14 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF(Continued)
February 28, 2019 (Unaudited)
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2019 is as follows:
Value ($) at 12/6/2018 (Commencement of Operations) | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2019 | Value ($) at 2/28/2019 | ||||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL—1.0% | ||||||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 2.31% (d)(e) | ||||||||||||||||||||||||||||||||||||||
— | 79,663 | (f) | — | — | — | 203 | — | 79,663 | 79,663 | |||||||||||||||||||||||||||||
CASH EQUIVALENTS—1.9% | ||||||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 2.38% (d) | ||||||||||||||||||||||||||||||||||||||
— | 1,945,647 | (1,795,329 | ) | — | — | 973 | — | 150,318 | 150,318 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||
— | 2,025,310 | (1,795,329 | ) | — | — | 1,176 | — | 229,981 | 229,981 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* | Non-income producing security. |
(a) | Stapled Security — A security contractually bound to one or more other securities to form a single saleable unit which cannot be sold separately. |
(b) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2019 amounted to $254,291, which is 3.3% of net assets. |
(c) | Investment was valued using significant unobservable inputs. |
(d) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualizedseven-day yield at period end. |
(e) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund heldnon-cash U.S. Treasury securities collateral having a value of $193,484. |
(f) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2019. |
ADR: | American Depositary Receipt |
CPO: | Ordinary Participation Certificates |
GDR: | Global Depositary Receipt |
NVDR: | Non Voting Depositary Receipt |
PJSC: | Public Joint Stock Company |
QSC: | Qatari Shareholders Company |
REIT: | Real Estate Investment Trust |
SDR: | Swedish Depositary Receipt |
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 February 28, 2019, open futures contract purchased was as follows:
Contract Description | Currency | Number of Contracts | Notional Amount | Contract Value | Expiration Date | Unrealized Depreciation | ||||||||||||||||||
SGX NIFTY 50 Futures | USD | 8 | $ | 173,942 | $ | 173,920 | 3/28/2019 | $ | (22 | ) |
For information on the Fund’s policy and additional disclosures regarding open futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
Currency Abbreviations
USD | U.S. Dollar |
See Notes to Financial Statements. | 15 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF(Continued)
February 28, 2019 (Unaudited)
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2019 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) | $ | 7,466,568 | $ | — | $ | — | $ | 7,466,568 | ||||||||
Preferred Stocks (g) | 108,765 | — | 7 | 108,772 | ||||||||||||
Rights | 0 | — | — | 0 | ||||||||||||
Short-Term Investments (g) | 229,981 | — | — | 229,981 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 7,805,314 | $ | — | $ | 7 | $ | 7,805,321 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liabilities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Derivatives (h) | ||||||||||||||||
Futures Contract | $ | (22 | ) | $ | — | $ | — | $ | (22 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | (22 | ) | $ | — | $ | — | $ | (22 | ) | ||||||
|
|
|
|
|
|
|
|
(g) | See Schedule of Investments for additional detailed categorizations. |
(h) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
See Notes to Financial Statements. | 16 |
DBX ETF Trust
Xtrackers MSCI EAFE ESG Leaders Equity ETF
February 28, 2019 (Unaudited)
Number | Value | |||||||
COMMON STOCKS — 99.3% | ||||||||
Australia — 9.7% | ||||||||
AGL Energy Ltd. | 687 | $ | 10,367 | |||||
Amcor Ltd. | 1,240 | 13,277 | ||||||
AMP Ltd. | 2,991 | 5,022 | ||||||
APA Group (a) | 1,232 | 8,774 | ||||||
ASX Ltd. | 200 | 9,928 | ||||||
Aurizon Holdings Ltd. | 2,166 | 6,965 | ||||||
AusNet Services | 2,103 | 2,596 | ||||||
Australia & New Zealand Banking Group Ltd. | 3,020 | 60,160 | ||||||
Bendigo & Adelaide Bank Ltd. | 504 | 3,535 | ||||||
BlueScope Steel Ltd. | 570 | 5,458 | ||||||
Boral Ltd. | 1,212 | 4,294 | ||||||
Brambles Ltd. | 1,661 | 13,897 | ||||||
Caltex Australia Ltd. | 271 | 5,514 | ||||||
Coca-Cola Amatil Ltd. | 522 | 2,960 | ||||||
Cochlear Ltd. | 59 | 7,157 | ||||||
Commonwealth Bank of Australia | 1,858 | 97,753 | ||||||
Computershare Ltd. | 508 | 6,234 | ||||||
CSL Ltd. | 477 | 65,755 | ||||||
Dexus REIT | 1,054 | 9,013 | ||||||
Flight Centre Travel Group Ltd. | 57 | 1,856 | ||||||
Fortescue Metals Group Ltd. | 1,644 | 7,088 | ||||||
Goodman Group REIT | 1,780 | 16,210 | ||||||
GPT Group REIT | 1,875 | 7,804 | ||||||
Harvey Norman Holdings Ltd. (b) | 560 | 1,434 | ||||||
Insurance Australia Group Ltd. | 2,420 | 12,655 | ||||||
Lendlease Group (a) | 601 | 5,507 | ||||||
Macquarie Group Ltd. | 338 | 30,934 | ||||||
Mirvac Group REIT | 3,776 | 6,904 | ||||||
National Australia Bank Ltd. | 2,877 | 51,437 | ||||||
Newcrest Mining Ltd. | 824 | 14,257 | ||||||
Orica Ltd. | 392 | 4,922 | ||||||
Origin Energy Ltd.* | 1,832 | 9,593 | ||||||
Ramsay Health Care Ltd. | 146 | 6,729 | ||||||
Scentre Group REIT | 5,571 | 15,339 | ||||||
SEEK Ltd. | 340 | 4,456 | ||||||
Stockland REIT | 2,477 | 6,168 | ||||||
Sydney Airport (a) | 1,240 | 6,352 | ||||||
Telstra Corp. Ltd. | 4,329 | 9,640 | ||||||
Transurban Group (a) | 2,788 | 24,734 | ||||||
Wesfarmers Ltd. | 1,183 | 27,926 | ||||||
Westpac Banking Corp. | 3,618 | 69,396 | ||||||
Woodside Petroleum Ltd. | 985 | 25,403 | ||||||
|
| |||||||
705,403 | ||||||||
|
| |||||||
Austria — 0.2% | ||||||||
OMV AG | 155 | 8,167 | ||||||
voestalpine AG | 127 | 3,936 | ||||||
|
| |||||||
12,103 | ||||||||
|
| |||||||
Belgium — 0.7% | ||||||||
Colruyt SA | 62 | 4,427 | ||||||
KBC Group NV | 262 | 19,428 | ||||||
Solvay SA | 78 | 8,741 | ||||||
UCB SA | 130 | 10,907 | ||||||
Umicore SA | 216 | 9,346 | ||||||
|
| |||||||
52,849 | ||||||||
|
|
Number | Value | |||||||
Denmark — 2.6% | ||||||||
Chr Hansen Holding A/S | 101 | $ | 10,300 | |||||
Coloplast A/S, Class B | 123 | 12,273 | ||||||
Genmab A/S* | 63 | 10,899 | ||||||
H Lundbeck A/S | 72 | 3,297 | ||||||
ISS A/S | 175 | 5,467 | ||||||
Novo Nordisk A/S, Class B | 1,904 | 93,525 | ||||||
Novozymes A/S, Class B | 227 | 10,317 | ||||||
Orsted A/S, 144A | 197 | 14,311 | ||||||
Pandora A/S | 113 | 5,936 | ||||||
Tryg A/S (b) | 136 | 3,711 | ||||||
Vestas Wind Systems A/S | 211 | 17,582 | ||||||
William Demant Holding A/S* | 104 | 3,127 | ||||||
|
| |||||||
190,745 | ||||||||
|
| |||||||
Finland — 1.7% | ||||||||
Metso OYJ | 108 | 3,666 | ||||||
Neste OYJ | 133 | 12,797 | ||||||
Nokia OYJ | 5,868 | 35,521 | ||||||
Nokian Renkaat OYJ | 117 | 4,143 | ||||||
Nordea Bank Abp | 3,223 | 29,246 | ||||||
Orion OYJ, Class B | 107 | 3,827 | ||||||
Stora Enso OYJ, Class R | 571 | 7,663 | ||||||
UPM-Kymmene OYJ | 556 | 16,790 | ||||||
Wartsila OYJ Abp | 457 | 7,431 | ||||||
|
| |||||||
121,084 | ||||||||
|
| |||||||
France — 10.6% | ||||||||
Accor SA | 191 | 8,073 | ||||||
Air Liquide SA | 447 | 55,812 | ||||||
Atos SE | 101 | 9,709 | ||||||
AXA SA | 2,024 | 51,384 | ||||||
Bouygues SA | 230 | 8,708 | ||||||
Capgemini SE | 172 | 20,604 | ||||||
Carrefour SA | 606 | 12,421 | ||||||
Casino Guichard Perrachon SA (b) | 57 | 3,017 | ||||||
Cie de Saint-Gobain | 520 | 18,747 | ||||||
Cie Generale des Etablissements Michelin | 177 | 21,264 | ||||||
CNP Assurances | 187 | 4,327 | ||||||
Credit Agricole SA | 1,188 | 15,194 | ||||||
Danone SA | 643 | 48,566 | ||||||
Eiffage SA | 87 | 8,498 | ||||||
EssilorLuxottica SA | 294 | 35,637 | ||||||
Eurazeo SE | 47 | 3,538 | ||||||
Gecina SA REIT | 48 | 7,127 | ||||||
Getlink SE | 504 | 7,449 | ||||||
Imerys SA | 39 | 2,220 | ||||||
Ingenico Group SA | 62 | 4,167 | ||||||
Ipsen SA | 39 | 5,400 | ||||||
JCDecaux SA | 106 | 3,271 | ||||||
Kering | 78 | 42,642 | ||||||
L’Oreal SA | 263 | 66,454 | ||||||
Natixis SA | 996 | 5,480 | ||||||
Orange SA | 2,138 | 32,720 | ||||||
Renault SA | 187 | 12,825 | ||||||
Rexel SA | 322 | 4,019 | ||||||
Schneider Electric SE | 590 | 45,967 | ||||||
Societe BIC SA | 26 | 2,462 |
See Notes to Financial Statements. | 17 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI EAFE ESG Leaders Equity ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
France (Continued) | ||||||||
TOTAL SA | 2,542 | $ | 144,700 | |||||
Unibail-Rodamco-Westfield REIT | 150 | 24,254 | ||||||
Vivendi SA | 1,108 | 32,425 | ||||||
Wendel SA | 28 | 3,536 | ||||||
|
| |||||||
772,617 | ||||||||
|
| |||||||
Germany — 9.5% | ||||||||
adidas AG | 188 | 45,727 | ||||||
Allianz SE | 447 | 99,560 | ||||||
BASF SE | 981 | 74,832 | ||||||
Bayerische Motoren Werke AG | 343 | 29,024 | ||||||
Beiersdorf AG | 102 | 9,473 | ||||||
Commerzbank AG* | 1,033 | 8,534 | ||||||
Deutsche Boerse AG | 201 | 25,428 | ||||||
Deutsche Post AG | 1,057 | 32,882 | ||||||
Deutsche Wohnen SE | 373 | 17,414 | ||||||
E.ON SE | 2,286 | 25,211 | ||||||
Evonik Industries AG | 167 | 4,707 | ||||||
Fraport AG Frankfurt Airport Services Worldwide | 46 | 3,699 | ||||||
HeidelbergCement AG | 154 | 11,335 | ||||||
Henkel AG & Co. KGaA | 110 | 10,346 | ||||||
Merck KGaA | 133 | 13,748 | ||||||
METRO AG | 182 | 3,060 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 158 | 37,260 | ||||||
OSRAM Licht AG (b) | 103 | 4,469 | ||||||
ProSiebenSat.1 Media SE | 246 | 4,493 | ||||||
RWE AG | 538 | 13,147 | ||||||
SAP SE | 1,042 | 111,771 | ||||||
Siemens AG | 814 | 89,103 | ||||||
Symrise AG | 127 | 11,205 | ||||||
Telefonica Deutschland Holding AG | 747 | 2,455 | ||||||
|
| |||||||
688,883 | ||||||||
|
| |||||||
Hong Kong — 2.4% | ||||||||
ASM Pacific Technology Ltd. | 285 | 3,019 | ||||||
BOC Hong Kong Holdings Ltd. | 3,841 | 16,050 | ||||||
CLP Holdings Ltd. | 1,722 | 20,401 | ||||||
Hang Lung Properties Ltd. | 2,150 | 5,078 | ||||||
Hang Seng Bank Ltd. | 793 | 19,649 | ||||||
Hong Kong & China Gas Co. Ltd. | 9,625 | 22,291 | ||||||
Hong Kong Exchanges & Clearing Ltd. | 1,277 | 44,021 | ||||||
Hysan Development Co. Ltd. | 667 | 3,522 | ||||||
MTR Corp. Ltd. | 1,860 | 10,686 | ||||||
Shangri-La Asia Ltd. | 519 | 738 | ||||||
Swire Pacific Ltd., Class A | 526 | 6,255 | ||||||
Swire Properties Ltd. | 1,261 | 5,060 | ||||||
Techtronic Industries Co. Ltd. | 1,248 | 8,339 | ||||||
Wharf Real Estate Investment Co. Ltd. | 1,262 | 8,866 | ||||||
Yue Yuen Industrial Holdings Ltd. | 726 | 2,442 | ||||||
|
| |||||||
176,417 | ||||||||
|
| |||||||
Ireland — 0.7% | ||||||||
CRH PLC | 830 | 26,312 | ||||||
DCC PLC | 107 | 9,287 | ||||||
Kerry Group PLC, Class A | 176 | 18,137 | ||||||
|
| |||||||
53,736 | ||||||||
|
|
Number | Value | |||||||
Israel — 0.3% | ||||||||
Bank Hapoalim BM | 1,117 | $ | 7,692 | |||||
Bank LeumiLe-Israel BM | 1,563 | 10,341 | ||||||
Mizrahi Tefahot Bank Ltd. | 150 | 2,874 | ||||||
|
| |||||||
20,907 | ||||||||
|
| |||||||
Italy — 1.1% | ||||||||
Assicurazioni Generali SpA | 1,236 | 22,090 | ||||||
Intesa Sanpaolo SpA | 15,520 | 38,332 | ||||||
Recordati SpA | 107 | 4,029 | ||||||
Snam SpA | 2,342 | 11,587 | ||||||
|
| |||||||
76,038 | ||||||||
|
| |||||||
Japan — 23.4% | ||||||||
Aeon Co. Ltd. (b) | 600 | 12,645 | ||||||
AEON Financial Service Co. Ltd. | 100 | 1,966 | ||||||
Aeon Mall Co. Ltd. | 100 | 1,631 | ||||||
AGC, Inc. | 200 | 6,935 | ||||||
Ajinomoto Co., Inc. | 500 | 7,564 | ||||||
Amada Holdings Co. Ltd. | 400 | 4,208 | ||||||
ANA Holdings, Inc. | 100 | 3,712 | ||||||
Asahi Kasei Corp. | 1,300 | 14,177 | ||||||
Asics Corp. | 200 | 2,663 | ||||||
Astellas Pharma, Inc. | 2,000 | 30,875 | ||||||
Benesse Holdings, Inc. | 100 | 2,717 | ||||||
Bridgestone Corp. | 600 | 23,678 | ||||||
Casio Computer Co. Ltd. | 200 | 2,715 | ||||||
Central Japan Railway Co. | 100 | 22,435 | ||||||
Chugai Pharmaceutical Co. Ltd. | 200 | 13,600 | ||||||
CyberAgent, Inc. | 100 | 3,113 | ||||||
Dai Nippon Printing Co. Ltd. | 200 | 4,632 | ||||||
Daicel Corp. | 300 | 3,158 | ||||||
Daifuku Co. Ltd. | 100 | 4,905 | ||||||
Daikin Industries Ltd. | 300 | 32,582 | ||||||
Daiwa House Industry Co. Ltd. | 600 | 18,568 | ||||||
Denso Corp. | 500 | 21,479 | ||||||
Dentsu, Inc. | 200 | 8,354 | ||||||
East Japan Railway Co. | 300 | 28,728 | ||||||
Eisai Co. Ltd. | 300 | 24,780 | ||||||
Fast Retailing Co. Ltd. | 100 | 46,856 | ||||||
Fujitsu Ltd. | 200 | 13,491 | ||||||
Hino Motors Ltd. | 300 | 2,757 | ||||||
Hitachi Chemical Co. Ltd. | 100 | 1,816 | ||||||
Hitachi Construction Machinery Co. Ltd. | 100 | 2,496 | ||||||
Hitachi High-Technologies Corp. | 100 | 3,804 | ||||||
Hitachi Metals Ltd. | 200 | 2,037 | ||||||
Honda Motor Co. Ltd. | 1,700 | 48,150 | ||||||
Hulic Co. Ltd. | 300 | 2,757 | ||||||
Inpex Corp. | 1,100 | 10,702 | ||||||
J. Front Retailing Co. Ltd. (b) | 200 | 2,215 | ||||||
Japan Retail Fund Investment Corp. REIT | 3 | 6,047 | ||||||
JFE Holdings, Inc. | 500 | 8,720 | ||||||
Kajima Corp. | 500 | 7,402 | ||||||
Kaneka Corp. | 100 | 3,912 | ||||||
Kansai Paint Co. Ltd. | 200 | 3,678 | ||||||
Kao Corp. | 500 | 37,837 | ||||||
Kawasaki Heavy Industries Ltd. | 200 | 5,138 | ||||||
KDDI Corp. | 1,900 | 45,887 |
See Notes to Financial Statements. | 18 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI EAFE ESG Leaders Equity ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Japan (Continued) | ||||||||
Keio Corp. | 100 | $ | 5,875 | |||||
Keyence Corp. | 100 | 58,327 | ||||||
Kikkoman Corp. | 200 | 9,953 | ||||||
Kobayashi Pharmaceutical Co. Ltd. | 100 | 8,067 | ||||||
Kobe Steel Ltd. | 300 | 2,374 | ||||||
Komatsu Ltd. | 1,000 | 24,533 | ||||||
Konica Minolta, Inc. | 500 | 4,851 | ||||||
Kubota Corp. | 1,000 | 13,497 | ||||||
Kuraray Co. Ltd. | 300 | 4,026 | ||||||
Kurita Water Industries Ltd. | 100 | 2,519 | ||||||
Kyocera Corp. | 300 | 16,550 | ||||||
Kyushu Railway Co. | 200 | 6,845 | ||||||
Lawson, Inc. | 100 | 6,064 | ||||||
Marui Group Co. Ltd. | 200 | 3,520 | ||||||
Mazda Motor Corp. | 600 | 7,047 | ||||||
McDonald’s Holdings Co. Japan Ltd. | 100 | 4,483 | ||||||
Mitsubishi Chemical Holdings Corp. | 1,300 | 9,598 | ||||||
Mitsubishi Electric Corp. | 1,900 | 23,793 | ||||||
Mitsubishi Estate Co. Ltd. | 1,200 | 20,622 | ||||||
Mitsubishi Materials Corp. | 100 | 2,749 | ||||||
Mitsubishi UFJ Lease & Finance Co. Ltd. | 400 | 2,037 | ||||||
Mitsui Chemicals, Inc. | 200 | 4,874 | ||||||
Mitsui Fudosan Co. Ltd. | 900 | 21,324 | ||||||
Mitsui OSK Lines Ltd. | 100 | 2,345 | ||||||
Mizuho Financial Group, Inc. | 25,300 | 39,818 | ||||||
Murata Manufacturing Co. Ltd. | 200 | 31,126 | ||||||
Nabtesco Corp. | 100 | 2,640 | ||||||
Nagoya Railroad Co. Ltd. | 200 | 5,507 | ||||||
NEC Corp. | 300 | 10,012 | ||||||
NGK Insulators Ltd. | 300 | 4,579 | ||||||
NGK Spark Plug Co. Ltd. | 200 | 4,251 | ||||||
Nikon Corp. | 300 | 4,544 | ||||||
Nintendo Co. Ltd. | 100 | 27,345 | ||||||
Nippon Express Co. Ltd. | 100 | 5,902 | ||||||
Nippon Prologis REIT, Inc. REIT | 2 | 4,254 | ||||||
Nippon Yusen KK | 200 | 3,153 | ||||||
Nitori Holdings Co. Ltd. | 100 | 12,473 | ||||||
Nitto Denko Corp. | 200 | 10,676 | ||||||
Nomura Real Estate Holdings, Inc. | 100 | 1,895 | ||||||
Nomura Research Institute Ltd. | 100 | 4,069 | ||||||
NSK Ltd. | 400 | 3,676 | ||||||
NTT DOCOMO, Inc. | 1,400 | 32,592 | ||||||
Obayashi Corp. | 700 | 6,823 | ||||||
Odakyu Electric Railway Co. Ltd. | 300 | 7,010 | ||||||
Omron Corp. | 200 | 8,633 | ||||||
Oriental Land Co. Ltd. | 200 | 21,973 | ||||||
Osaka Gas Co. Ltd. | 400 | 8,193 | ||||||
Otsuka Corp. | 100 | 3,598 | ||||||
Panasonic Corp. | 2,300 | 21,178 | ||||||
Rakuten, Inc. | 900 | 7,082 | ||||||
Recruit Holdings Co. Ltd. | 1,200 | 33,568 | ||||||
Resona Holdings, Inc. | 2,200 | 9,947 | ||||||
Secom Co. Ltd. | 200 | 17,284 | ||||||
Sekisui Chemical Co. Ltd. | 400 | 6,277 | ||||||
Sekisui House Ltd. | 700 | 10,523 | ||||||
Seven & i Holdings Co. Ltd. | 800 | 35,171 | ||||||
Sharp Corp. | 200 | 2,339 |
Number | Value | |||||||
Japan (Continued) | ||||||||
Shimadzu Corp. | 200 | $ | 4,932 | |||||
Shimizu Corp. | 600 | 5,271 | ||||||
Shin-Etsu Chemical Co. Ltd. | 400 | 33,313 | ||||||
Shiseido Co. Ltd. | 400 | 26,403 | ||||||
Showa Denko KK | 100 | 3,723 | ||||||
Showa Shell Sekiyu KK | 200 | 3,000 | ||||||
Sohgo Security Services Co. Ltd. | 100 | 4,321 | ||||||
Sompo Holdings, Inc. | 400 | 14,937 | ||||||
Sony Corp. | 1,300 | 62,372 | ||||||
Stanley Electric Co. Ltd. | 100 | 2,875 | ||||||
Sumitomo Chemical Co. Ltd. | 1,500 | 7,438 | ||||||
Sumitomo Electric Industries Ltd. | 800 | 11,132 | ||||||
Sumitomo Heavy Industries Ltd. | 100 | 3,423 | ||||||
Sumitomo Metal Mining Co. Ltd. | 200 | 5,864 | ||||||
Sumitomo Mitsui Trust Holdings, Inc. | 300 | 11,370 | ||||||
Sumitomo Rubber Industries Ltd. | 200 | 2,571 | ||||||
Suntory Beverage & Food Ltd. | 200 | 8,821 | ||||||
Sysmex Corp. | 200 | 12,036 | ||||||
T&D Holdings, Inc. | 600 | 7,204 | ||||||
Taisei Corp. | 200 | 9,450 | ||||||
Takashimaya Co. Ltd. (b) | 100 | 1,316 | ||||||
Takeda Pharmaceutical Co. Ltd. | 1,500 | 60,218 | ||||||
TDK Corp. | 100 | 7,815 | ||||||
Teijin Ltd. | 200 | 3,354 | ||||||
Tobu Railway Co. Ltd. | 200 | 5,587 | ||||||
Toho Co. Ltd. | 100 | 3,575 | ||||||
Toho Gas Co. Ltd. | 100 | 4,545 | ||||||
Tokyo Electron Ltd. | 200 | 27,219 | ||||||
Tokyo Gas Co. Ltd. | 400 | 11,013 | ||||||
Tokyu Corp. | 500 | 8,476 | ||||||
Tokyu Fudosan Holdings Corp. | 500 | 2,762 | ||||||
Toppan Printing Co. Ltd. | 300 | 4,775 | ||||||
Toray Industries, Inc. | 1,500 | 10,450 | ||||||
TOTO Ltd. | 100 | 3,786 | ||||||
Toyo Suisan Kaisha Ltd. | 100 | 3,710 | ||||||
Toyoda Gosei Co. Ltd. | 100 | 2,266 | ||||||
Toyota Tsusho Corp. | 200 | 6,351 | ||||||
Unicharm Corp. | 400 | 12,738 | ||||||
USS Co. Ltd. | 100 | 1,822 | ||||||
West Japan Railway Co. | 200 | 15,075 | ||||||
Yakult Honsha Co. Ltd. | 100 | 6,710 | ||||||
Yamada Denki Co. Ltd. | 500 | 2,416 | ||||||
Yamaha Corp. | 100 | 4,923 | ||||||
Yamaha Motor Co. Ltd. | 300 | 6,082 | ||||||
Yaskawa Electric Corp. (b) | 300 | 8,529 | ||||||
Yokogawa Electric Corp. | 200 | 3,852 | ||||||
|
| |||||||
1,701,327 | ||||||||
|
| |||||||
Luxembourg — 0.3% | ||||||||
Millicom International Cellular SA SDR | 70 | 4,216 | ||||||
SES SA | 378 | 7,604 | ||||||
Tenaris SA | 474 | 6,331 | ||||||
|
| |||||||
18,151 | ||||||||
|
| |||||||
Netherlands — 4.4% | ||||||||
Aegon NV | 1,841 | 9,911 | ||||||
Akzo Nobel NV | 232 | 21,063 |
See Notes to Financial Statements. | 19 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI EAFE ESG Leaders Equity ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Netherlands (Continued) | ||||||||
ASML Holding NV | 433 | $ | 79,441 | |||||
EXOR NV | 113 | 6,961 | ||||||
ING Groep NV | 4,112 | 54,465 | ||||||
Koninklijke Ahold Delhaize NV | 1,255 | 32,404 | ||||||
Koninklijke DSM NV | 194 | 20,854 | ||||||
Koninklijke KPN NV | 3,551 | 10,966 | ||||||
Koninklijke Philips NV | 985 | 39,257 | ||||||
Koninklijke Vopak NV | 71 | 3,476 | ||||||
NN Group NV | 313 | 13,651 | ||||||
QIAGEN NV* | 234 | 8,958 | ||||||
Wolters Kluwer NV | 303 | 20,005 | ||||||
|
| |||||||
321,412 | ||||||||
|
| |||||||
New Zealand — 0.2% | ||||||||
Auckland International Airport Ltd. | 1,116 | 5,909 | ||||||
Fletcher Building Ltd.* | 879 | 2,929 | ||||||
Meridian Energy Ltd. | 1,311 | 3,297 | ||||||
Ryman Healthcare Ltd. | 402 | 3,014 | ||||||
|
| |||||||
15,149 | ||||||||
|
| |||||||
Norway — 1.0% | ||||||||
Aker BP ASA | 107 | 3,631 | ||||||
Equinor ASA | 1,223 | 27,525 | ||||||
Mowi ASA (b) | 433 | 10,001 | ||||||
Norsk Hydro ASA | 1,587 | 6,581 | ||||||
Orkla ASA | 857 | 6,761 | ||||||
Schibsted ASA, Class B | 100 | 3,709 | ||||||
Telenor ASA | 793 | 15,482 | ||||||
|
| |||||||
73,690 | ||||||||
|
| |||||||
Portugal — 0.3% | ||||||||
EDP - Energias de Portugal SA | 2,674 | 9,820 | ||||||
Galp Energia SGPS SA | 522 | 8,577 | ||||||
Jeronimo Martins SGPS SA | 268 | 4,044 | ||||||
|
| |||||||
22,441 | ||||||||
|
| |||||||
Singapore — 1.3% | ||||||||
Ascendas Real Estate Investment Trust REIT | 2,700 | 5,595 | ||||||
CapitaLand Commercial Trust REIT | 2,700 | 3,877 | ||||||
CapitaLand Ltd. | 2,700 | 6,834 | ||||||
CapitaLand Mall Trust REIT | 2,700 | 4,796 | ||||||
City Developments Ltd. | 400 | 2,641 | ||||||
DBS Group Holdings Ltd. | 1,900 | 34,929 | ||||||
Jardine Cycle & Carriage Ltd. | 100 | 2,467 | ||||||
Keppel Corp. Ltd. | 1,500 | 6,838 | ||||||
Singapore Airlines Ltd. | 600 | 4,445 | ||||||
Singapore Press Holdings Ltd. | 1,700 | 3,095 | ||||||
Singapore Telecommunications Ltd. | 8,500 | 18,998 | ||||||
UOL Group Ltd. | 500 | 2,453 | ||||||
|
| |||||||
96,968 | ||||||||
|
| |||||||
South Africa — 0.1% | ||||||||
Investec PLC | 705 | 4,621 | ||||||
|
| |||||||
Spain — 4.2% | ||||||||
Amadeus IT Group SA | 471 | 35,505 | ||||||
Banco Bilbao Vizcaya Argentaria SA | 7,137 | 44,487 | ||||||
Banco de Sabadell SA | 5,886 | 6,712 |
Number | Value | |||||||
Spain (Continued) | ||||||||
Bankinter SA | 710 | $ | 5,839 | |||||
CaixaBank SA | 3,735 | 13,338 | ||||||
Enagas SA | 234 | 6,675 | ||||||
Ferrovial SA | 513 | 11,835 | ||||||
Grifols SA | 310 | 8,069 | ||||||
Iberdrola SA | 6,536 | 54,718 | ||||||
Industria de Diseno Textil SA | 1,107 | 33,455 | ||||||
Naturgy Energy Group SA | 367 | 9,975 | ||||||
Red Electrica Corp. SA | 462 | 9,995 | ||||||
Repsol SA | 1,460 | 25,145 | ||||||
Telefonica SA | 4,955 | 42,819 | ||||||
|
| |||||||
308,567 | ||||||||
|
| |||||||
Sweden — 3.6% | ||||||||
Assa Abloy AB, Class B | 1,037 | 21,463 | ||||||
Atlas Copco AB, Class A | 703 | 19,059 | ||||||
Atlas Copco AB, Class B | 404 | 10,145 | ||||||
Boliden AB | 297 | 8,132 | ||||||
Essity AB, Class B | 632 | 17,644 | ||||||
Hennes & Mauritz AB, Class B | 917 | 13,886 | ||||||
Husqvarna AB, Class B | 440 | 3,608 | ||||||
ICA Gruppen AB (b) | 86 | 3,308 | ||||||
Investor AB, Class B | 460 | 20,557 | ||||||
Kinnevik AB, Class B | 246 | 6,236 | ||||||
L E Lundbergforetagen AB, Class B | 82 | 2,530 | ||||||
Sandvik AB | 1,184 | 19,465 | ||||||
Skandinaviska Enskilda Banken AB, Class A | 1,632 | 16,623 | ||||||
Skanska AB, Class B | 355 | 6,407 | ||||||
SKF AB, Class B | 451 | 7,595 | ||||||
Svenska Handelsbanken AB, Class A | 1,608 | 18,352 | ||||||
Swedbank AB, Class A | 955 | 17,557 | ||||||
Tele2 AB, Class B | 529 | 6,972 | ||||||
Telefonaktiebolaget LM Ericsson, Class B | 3,197 | 29,280 | ||||||
Telia Co. AB | 2,965 | 12,877 | ||||||
|
| |||||||
261,696 | ||||||||
|
| |||||||
Switzerland — 8.0% | ||||||||
ABB Ltd. | 1,937 | 38,431 | ||||||
Adecco Group AG | 171 | 8,902 | ||||||
Chocoladefabriken Lindt & Spruengli AG Participation Certificates | 1 | 6,515 | ||||||
Cie Financiere Richemont SA | 552 | 42,356 | ||||||
Clariant AG* | 205 | 4,414 | ||||||
Coca-Cola HBC AG* | 216 | 7,286 | ||||||
Ferguson PLC | 241 | 16,736 | ||||||
Givaudan SA | 10 | 25,065 | ||||||
Kuehne + Nagel International AG | 60 | 7,845 | ||||||
LafargeHolcim Ltd.* | 522 | 25,885 | ||||||
Lonza Group AG* | 77 | 21,449 | ||||||
Roche Holding AG | 741 | 206,263 | ||||||
SGS SA | 6 | 15,328 | ||||||
Sika AG | 134 | 18,159 | ||||||
Sonova Holding AG | 58 | 10,867 | ||||||
STMicroelectronics NV | 730 | 11,945 | ||||||
Straumann Holding AG | 11 | 8,602 | ||||||
Swiss Re AG | 334 | 33,132 |
See Notes to Financial Statements. | 20 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI EAFE ESG Leaders Equity ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Switzerland (Continued) | ||||||||
Swisscom AG | 30 | $ | 13,916 | |||||
Vifor Pharma AG | 47 | 5,895 | ||||||
Zurich Insurance Group AG | 159 | 52,670 | ||||||
|
| |||||||
581,661 | ||||||||
|
| |||||||
United Arab Emirates — 0.1% | ||||||||
NMC Health PLC | 108 | 3,884 | ||||||
|
| |||||||
United Kingdom — 12.9% | ||||||||
3i Group PLC | 1,021 | 12,844 | ||||||
Associated British Foods PLC | 370 | 11,039 | ||||||
Aviva PLC | 4,188 | 23,574 | ||||||
Barratt Developments PLC | 1,066 | 8,493 | ||||||
Berkeley Group Holdings PLC | 135 | 7,093 | ||||||
British Land Co. PLC REIT | 971 | 7,803 | ||||||
BT Group PLC | 9,145 | 26,116 | ||||||
Burberry Group PLC | 425 | 10,681 | ||||||
CNH Industrial NV | 1,061 | 11,506 | ||||||
Coca-Cola European Partners PLC | 228 | 10,748 | ||||||
Compass Group PLC | 1,677 | 37,139 | ||||||
ConvaTec Group PLC, 144A | 1,435 | 2,532 | ||||||
Croda International PLC | 136 | 8,703 | ||||||
easyJet PLC | 165 | 2,694 | ||||||
GlaxoSmithKline PLC | 5,208 | 103,727 | ||||||
InterContinental Hotels Group PLC | 176 | 10,557 | ||||||
Intertek Group PLC | 169 | 11,433 | ||||||
ITV PLC | 3,817 | 6,656 | ||||||
J Sainsbury PLC | 1,808 | 5,507 | ||||||
John Wood Group PLC | 625 | 4,326 | ||||||
Johnson Matthey PLC | 201 | 8,269 | ||||||
Kingfisher PLC | 2,079 | 6,695 | ||||||
Legal & General Group PLC | 6,237 | 23,278 | ||||||
London Stock Exchange Group PLC | 328 | 19,663 | ||||||
Marks & Spencer Group PLC | 1,589 | 5,770 | ||||||
Meggitt PLC | 838 | 6,010 | ||||||
Merlin Entertainments PLC, 144A | 733 | 3,525 | ||||||
Mondi PLC | 385 | 8,851 | ||||||
National Grid PLC | 3,526 | 39,766 | ||||||
Next PLC | 140 | 9,475 | ||||||
Pearson PLC | 892 | 10,037 | ||||||
Prudential PLC | 2,680 | 56,678 | ||||||
Reckitt Benckiser Group PLC | 706 | 54,155 | ||||||
RELX PLC | 2,109 | 48,502 | ||||||
Royal Mail PLC | 957 | 3,600 |
Number | Value | |||||||
United Kingdom (Continued) | ||||||||
RSA Insurance Group PLC | 1,116 | $ | 7,585 | |||||
Schroders PLC | 106 | 3,856 | ||||||
Segro PLC REIT | 1,065 | 9,363 | ||||||
Smith & Nephew PLC | 920 | 17,578 | ||||||
SSE PLC | 1,075 | 16,994 | ||||||
Standard Chartered PLC | 2,986 | 23,894 | ||||||
Standard Life Aberdeen PLC | 2,439 | 8,005 | ||||||
Taylor Wimpey PLC | 3,532 | 8,522 | ||||||
Tesco PLC | 10,375 | 31,188 | ||||||
Unilever NV | 1,639 | 88,772 | ||||||
Unilever PLC | 1,176 | 62,693 | ||||||
Whitbread PLC | 189 | 12,200 | ||||||
Wm Morrison Supermarkets PLC | 2,326 | 7,119 | ||||||
WPP PLC | 1,321 | 14,510 | ||||||
|
| |||||||
939,724 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 7,220,073 | |||||||
|
| |||||||
PREFERRED STOCKS — 0.4% | ||||||||
Germany — 0.4% | ||||||||
Bayerische Motoren Werke AG | 49 | 3,621 | ||||||
Henkel AG & Co. KGaA | 184 | 18,405 | ||||||
Sartorius AG | 37 | 5,873 | ||||||
|
| |||||||
27,899 | ||||||||
|
| |||||||
TOTAL PREFERRED STOCKS | 27,899 | |||||||
|
| |||||||
SECURITIES LENDING COLLATERAL — 0.6% |
| |||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 2.31% (c)(d) | 46,390 | 46,390 | ||||||
|
| |||||||
CASH EQUIVALENTS — 0.0% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 2.38%(c) | 55 | 55 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 100.3% | $ | 7,294,417 | ||||||
Other assets and liabilities, net — (0.3%) | (25,366 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 7,269,051 | ||||||
|
|
See Notes to Financial Statements. | 21 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI EAFE ESG Leaders Equity ETF(Continued)
February 28, 2019 (Unaudited)
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2019 is as follows:
Value ($) at 9/6/2018 (Commencement of Operations) | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2019 | Value ($) at 2/28/2019 | ||||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL—0.6% | ||||||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio "DWS Government Cash Institutional Shares", 2.31% (c)(d) | ||||||||||||||||||||||||||||||||||||||
— | 46,390 | (e) | — | — | — | 414 | — | 46,390 | 46,390 | |||||||||||||||||||||||||||||
CASH EQUIVALENTS—0.0% | ||||||||||||||||||||||||||||||||||||||
DWS Government Money Market Series "Institutional Shares", 2.38% (c) | ||||||||||||||||||||||||||||||||||||||
— | 66,776 | (66,721 | ) | — | — | 30 | — | 55 | 55 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||
— | 113,166 | (66,721 | ) | — | — | 444 | — | 46,445 | 46,445 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* | Non-income producing security. |
(a) | Stapled Security — A security contractually bound to one or more other securities to form a single saleable unit which cannot be sold separately. |
(b) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2019 amounted to $47,016, which is 0.6% of net assets. |
(c) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualizedseven-day yield at period end. |
(d) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund heldnon-cash U.S. Treasury securities collateral having a value of $9,989. |
(e) | Represents the net increase (purchases cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2019. |
REIT: | Real Estate Investment Trust |
SDR: | Swedish Depositary Receipt |
144A: | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2019 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) | $ | 7,220,073 | $ | — | $ | — | $ | 7,220,073 | ||||||||
Preferred Stocks (f) | 27,899 | — | — | 27,899 | ||||||||||||
Short-Term Investments (f) | 46,445 | — | — | 46,445 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 7,294,417 | $ | — | $ | — | $ | 7,294,417 | ||||||||
|
|
|
|
|
|
|
|
(f) | See Schedule of Investments for additional detailed categorizations. |
See Notes to Financial Statements. | 22 |
DBX ETF Trust
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF
February 28, 2019 (Unaudited)
Number | Value | |||||||
COMMON STOCKS — 87.2% | ||||||||
Brazil — 2.5% | ||||||||
Atacadao Distribuicao Comercio e Industria Ltda | 1,300 | $ | 6,766 | |||||
B3 SA — Brasil Bolsa Balcao | 5,739 | 50,178 | ||||||
BR Malls Participacoes SA | 2,537 | 9,058 | ||||||
Cielo SA | 3,879 | 11,243 | ||||||
Cosan SA | 326 | 3,799 | ||||||
Engie Brasil Energia SA | 350 | 3,841 | ||||||
Klabin SA | 1,931 | 9,289 | ||||||
Kroton Educacional SA | 3,772 | 11,034 | ||||||
Localiza Rent a Car SA | 1,452 | 13,377 | ||||||
Lojas Renner SA | 2,095 | 24,178 | ||||||
M Dias Branco SA | 392 | 4,911 | ||||||
Multiplan Empreendimentos Imobiliarios SA | 899 | 6,034 | ||||||
Natura Cosmeticos SA | 610 | 7,869 | ||||||
TIM Participacoes SA | 2,741 | 8,639 | ||||||
Ultrapar Participacoes SA | 850 | 12,105 | ||||||
WEG SA | 2,394 | 11,759 | ||||||
|
| |||||||
194,080 | ||||||||
|
| |||||||
Chile — 1.0% | ||||||||
Aguas Andinas SA, Class A | 5,049 | 2,961 | ||||||
Empresa Nacional de Telecomunicaciones SA | 565 | 5,954 | ||||||
Empresas CMPC SA | 4,117 | 15,466 | ||||||
Empresas COPEC SA | 818 | 11,118 | ||||||
Enel Americas SA | 71,028 | 12,365 | ||||||
Latam Airlines Group SA | 702 | 8,169 | ||||||
SACI Falabella | 2,384 | 18,567 | ||||||
|
| |||||||
74,600 | ||||||||
|
| |||||||
China — 27.5% | ||||||||
3SBio, Inc., 144A | 3,404 | 5,629 | ||||||
51job, Inc., ADR*(a) | 72 | 5,203 | ||||||
AAC Technologies Holdings, Inc. | 2,322 | 13,799 | ||||||
Air China Ltd., Class H | 5,074 | 5,481 | ||||||
Alibaba Group Holding Ltd., ADR*(a) | 3,628 | 664,033 | ||||||
ANTA Sports Products Ltd. | 3,061 | 17,938 | ||||||
BAIC Motor Corp. Ltd., Class H, 144A | 5,332 | 3,389 | ||||||
Baozun, Inc., ADR*(a) | 109 | 4,082 | ||||||
BBMG Corp., Class H | 5,287 | 1,940 | ||||||
BYD Co. Ltd., Class H | 1,785 | 11,415 | ||||||
BYD Electronic International Co. Ltd. | 2,176 | 2,783 | ||||||
CAR, Inc.* | 2,318 | 2,038 | ||||||
China CITIC Bank Corp. Ltd., Class H | 23,804 | 15,465 | ||||||
China Conch Venture Holdings Ltd. | 4,737 | 15,811 | ||||||
China Construction Bank Corp., Class H | 268,938 | 239,138 | ||||||
China Eastern Airlines Corp. Ltd., Class H | 3,797 | 2,423 | ||||||
China Everbright Bank Co. Ltd., Class H | 5,368 | 2,571 | ||||||
China Longyuan Power Group Corp. Ltd., Class H | 8,106 | 6,051 | ||||||
China Medical System Holdings Ltd. | 3,767 | 3,964 | ||||||
China Merchants Bank Co. Ltd., Class H | 10,776 | 49,420 | ||||||
China Minsheng Banking Corp. Ltd., Class H | 17,450 | 13,471 | ||||||
China Molybdenum Co. Ltd., Class H | 8,934 | 4,279 |
Number | Value | |||||||
China (Continued) | ||||||||
China Resources Pharmaceutical Group Ltd., 144A | 4,506 | $ | 6,039 | |||||
China Shenhua Energy Co. Ltd., Class H | 8,315 | 20,507 | ||||||
China Vanke Co. Ltd., Class H | 3,355 | 12,737 | ||||||
Country Garden Services Holdings Co. Ltd.* | 3,274 | 5,389 | ||||||
CSPC Pharmaceutical Group Ltd. | 13,034 | 22,250 | ||||||
Ctrip.com International Ltd., ADR* | 1,126 | 38,430 | ||||||
Dongfeng Motor Group Co. Ltd., Class H | 8,276 | 8,803 | ||||||
ENN Energy Holdings Ltd. | 2,108 | 21,752 | ||||||
Fosun International Ltd. | 6,760 | 11,126 | ||||||
Geely Automobile Holdings Ltd. | 13,708 | 25,740 | ||||||
Genscript Biotech Corp.* | 3,076 | 5,752 | ||||||
GOME Retail Holdings Ltd.* | 25,581 | 2,314 | ||||||
Greentown Service Group Co. Ltd. | 2,970 | 2,709 | ||||||
Guangzhou Automobile Group Co. Ltd., Class H | 8,354 | 10,270 | ||||||
HengTen Networks Group Ltd.* | 62,558 | 2,231 | ||||||
Huaneng Renewables Corp. Ltd., Class H | 11,456 | 3,488 | ||||||
Inner Mongolia Yitai Coal Co. Ltd., Class B | 900 | 1,112 | ||||||
Jiangsu Expressway Co. Ltd., Class H | 3,806 | 5,246 | ||||||
Lenovo Group Ltd. | 20,504 | 18,467 | ||||||
New Oriental Education & Technology Group, Inc., ADR* | 399 | 32,742 | ||||||
Shandong Weigao Group Medical Polymer Co. Ltd., Class H | 6,303 | 5,476 | ||||||
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class H | 1,806 | 6,407 | ||||||
Shanghai Pharmaceuticals Holding Co. Ltd., Class H | 2,468 | 5,546 | ||||||
Shenzhou International Group Holdings Ltd. | 2,208 | 27,566 | ||||||
Shui On Land Ltd. | 8,670 | 2,165 | ||||||
Sihuan Pharmaceutical Holdings Group Ltd. | 12,629 | 2,639 | ||||||
Sinopharm Group Co. Ltd., Class H | 3,330 | 14,805 | ||||||
Sinotrans Ltd., Class H | 6,709 | 3,154 | ||||||
SOHO China Ltd.* | 5,067 | 2,162 | ||||||
Tencent Holdings Ltd. | 16,000 | 684,451 | ||||||
Tong Ren Tang Technologies Co. Ltd., Class H | 1,719 | 2,251 | ||||||
Vipshop Holdings Ltd., ADR* | 1,178 | 8,458 | ||||||
Wuxi Biologics Cayman, Inc., 144A* | 1,388 | 13,173 | ||||||
Xinjiang Goldwind Science & Technology Co. Ltd., Class H | 1,819 | 2,086 | ||||||
Yuzhou Properties Co. Ltd. | 3,559 | 1,736 | ||||||
Zhejiang Expressway Co. Ltd., Class H | 4,006 | 4,180 | ||||||
Zhongsheng Group Holdings Ltd. | 1,521 | 3,534 | ||||||
|
| |||||||
2,137,216 | ||||||||
|
| |||||||
Colombia — 0.2% | ||||||||
Cementos Argos SA | 1,301 | 3,435 | ||||||
Grupo Argos SA | 981 | 5,709 | ||||||
Interconexion Electrica SA ESP | 1,175 | 5,335 | ||||||
|
| |||||||
14,479 | ||||||||
|
|
See Notes to Financial Statements. | 23 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Czech Republic — 0.3% | ||||||||
CEZ AS | 449 | $ | 10,898 | |||||
Komercni banka as | 243 | 10,218 | ||||||
|
| |||||||
21,116 | ||||||||
|
| |||||||
Egypt — 0.2% | ||||||||
Commercial International Bank Egypt SAE | 3,850 | 15,422 | ||||||
|
| |||||||
Greece — 0.1% | ||||||||
Hellenic Telecommunications Organization SA | 703 | 8,926 | ||||||
Titan Cement Co. SA | 87 | 1,908 | ||||||
|
| |||||||
10,834 | ||||||||
|
| |||||||
Hong Kong — 1.8% | ||||||||
Alibaba Pictures Group Ltd.* | 44,122 | 8,150 | ||||||
Beijing Enterprises Water Group Ltd.* | 15,746 | 9,428 | ||||||
Brilliance China Automotive Holdings Ltd. | 8,511 | 8,338 | �� | |||||
China Agri-Industries Holdings Ltd. | 7,473 | 2,656 | ||||||
China Everbright International Ltd. | 9,420 | 9,216 | ||||||
China First Capital Group Ltd.* | 9,309 | 4,127 | ||||||
China Mengniu Dairy Co. Ltd.* | 7,778 | 24,028 | ||||||
China Overseas Land & Investment Ltd. | 10,568 | 38,907 | ||||||
China Travel International Investment Hong Kong Ltd. | 6,529 | 1,938 | ||||||
Fullshare Holdings Ltd.*(a) | 19,148 | 3,830 | ||||||
Jiayuan International Group Ltd. | 2,854 | 1,389 | ||||||
Lee & Man Paper Manufacturing Ltd. | 4,104 | 3,780 | ||||||
Shenzhen Investment Ltd. | 11,065 | 4,130 | ||||||
Sino Biopharmaceutical Ltd. | 19,339 | 16,777 | ||||||
Towngas China Co. Ltd.* | 2,203 | 1,757 | ||||||
|
| |||||||
138,451 | ||||||||
|
| |||||||
Hungary — 0.5% | ||||||||
MOL Hungarian Oil & Gas PLC | 753 | 8,795 | ||||||
OTP Bank Nyrt | 659 | 27,890 | ||||||
|
| |||||||
36,685 | ||||||||
|
| |||||||
India — 1.2% | ||||||||
Axis Bank Ltd., GDR* | 425 | 21,123 | ||||||
Infosys Ltd., ADR (a) | 5,831 | 62,508 | ||||||
Wipro Ltd., ADR | 2,316 | 12,969 | ||||||
|
| |||||||
96,600 | ||||||||
|
| |||||||
Indonesia — 3.5% | ||||||||
PT Adaro Energy Tbk | 23,840 | 2,220 | ||||||
PT Astra International Tbk | 57,181 | 29,063 | ||||||
PT Bank Central Asia Tbk | 27,863 | 54,617 | ||||||
PT Bank Danamon Indonesia Tbk | 8,287 | 5,022 | ||||||
PT Bank Mandiri Persero Tbk | 52,221 | 26,449 | ||||||
PT Bank Negara Indonesia Persero Tbk | 20,011 | 12,518 | ||||||
PT Bank Rakyat Indonesia Persero Tbk | 155,125 | 42,455 | ||||||
PT Indah Kiat Pulp & Paper Corp. Tbk | 7,865 | 6,164 | ||||||
PT Indofood CBP Sukses Makmur Tbk | 8,771 | 6,375 | ||||||
PT Indofood Sukses Makmur Tbk | 13,019 | 6,548 | ||||||
PT Kalbe Farma Tbk | 60,044 | 6,381 | ||||||
PT Pabrik Kertas Tjiwi Kimia Tbk | 4,382 | 3,481 | ||||||
PT Pakuwon Jati Tbk | 62,529 | 2,756 | ||||||
PT Perusahaan Gas Negara Persero Tbk | 29,323 | 5,294 | ||||||
PT Surya Citra Media Tbk | 24,010 | 2,987 |
Number | Value | |||||||
Indonesia (Continued) | ||||||||
PT Telekomunikasi Indonesia Persero Tbk | 141,803 | $ | 38,909 | |||||
PT Unilever Indonesia Tbk | 4,583 | 15,858 | ||||||
PT United Tractors Tbk | 3,936 | 7,415 | ||||||
|
| |||||||
274,512 | ||||||||
|
| |||||||
Malaysia — 3.1% | ||||||||
Alliance Bank Malaysia Bhd | 2,700 | 2,629 | ||||||
AMMB Holdings Bhd | 4,400 | 4,837 | ||||||
Axiata Group Bhd | 7,400 | 7,570 | ||||||
CIMB Group Holdings Bhd | 12,400 | 17,839 | ||||||
DiGi.Com Bhd | 8,900 | 9,958 | ||||||
HAP Seng Consolidated Bhd | 1,900 | 4,602 | ||||||
Hartalega Holdings Bhd | 4,100 | 5,041 | ||||||
Hong Leong Bank Bhd | 2,000 | 10,466 | ||||||
IHH Healthcare Bhd | 7,000 | 9,864 | ||||||
IOI Properties Group Bhd | 4,100 | 1,623 | ||||||
Malayan Banking Bhd | 10,300 | 24,139 | ||||||
Malaysia Airports Holdings Bhd | 3,100 | 6,228 | ||||||
Maxis Bhd | 7,400 | 9,772 | ||||||
MISC Bhd | 3,000 | 5,090 | ||||||
Nestle Malaysia Bhd | 200 | 7,279 | ||||||
PPB Group Bhd | 2,300 | 10,384 | ||||||
Press Metal Aluminium Holdings Bhd | 3,700 | 3,849 | ||||||
Public Bank Bhd | 8,100 | 49,797 | ||||||
RHB Bank Bhd | 2,900 | 4,036 | ||||||
Sime Darby Bhd | 7,200 | 3,842 | ||||||
Sime Darby Property Bhd | 7,700 | 1,988 | ||||||
SP Setia Bhd Group | 3,500 | 1,971 | ||||||
Telekom Malaysia Bhd | 4,000 | 3,000 | ||||||
Tenaga Nasional Bhd | 7,900 | 26,071 | ||||||
Top Glove Corp. Bhd | 4,000 | 4,466 | ||||||
Westports Holdings Bhd | 3,200 | 2,904 | ||||||
YTL Corp. Bhd | 6,600 | 1,721 | ||||||
|
| |||||||
240,966 | ||||||||
|
| |||||||
Mexico — 1.8% | ||||||||
Alfa SAB de CV, Class A | 7,804 | 8,890 | ||||||
Alsea SAB de CV | 1,665 | 4,217 | ||||||
Arca Continental SAB de CV | 1,339 | 7,552 | ||||||
Cemex SAB de CV, Series CPO* | 40,930 | 20,094 | ||||||
Coca-Cola Femsa SAB de CV, Series L | 1,451 | 8,780 | ||||||
Fomento Economico Mexicano SAB de CV | 5,703 | 51,760 | ||||||
Gruma SAB de CV, Class B | 634 | 6,871 | ||||||
Grupo Aeroportuario del Sureste SAB de CV, Class B | 626 | 10,622 | ||||||
Grupo Bimbo SAB de CV, Series A | 4,778 | 9,479 | ||||||
Industrias Penoles SAB de CV | 289 | 3,830 | ||||||
Infraestructura Energetica Nova SAB de CV | 805 | 3,097 | ||||||
Kimberly-Clark de Mexico SAB de CV, Class A* | 4,286 | 6,929 | ||||||
|
| |||||||
142,121 | ||||||||
|
| |||||||
Philippines — 1.4% | ||||||||
Aboitiz Equity Ventures, Inc. | 4,390 | 5,178 | ||||||
Alliance Global Group, Inc. | 6,100 | 1,616 | ||||||
Ayala Land, Inc. | 21,800 | 18,546 | ||||||
Bank of the Philippine Islands | 2,980 | 4,840 | ||||||
BDO Unibank, Inc. | 5,620 | 13,865 |
See Notes to Financial Statements. | 24 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
Philippines (Continued) | ||||||||
Globe Telecom, Inc. | 105 | $ | 3,857 | |||||
JG Summit Holdings, Inc. | 6,800 | 8,704 | ||||||
Manila Electric Co. | 680 | 4,833 | ||||||
Metropolitan Bank & Trust Co. | 5,230 | 7,685 | ||||||
PLDT, Inc. | 295 | 5,875 | ||||||
SM Investments Corp. | 610 | 11,087 | ||||||
SM Prime Holdings, Inc. | 29,500 | 21,874 | ||||||
|
| |||||||
107,960 | ||||||||
|
| |||||||
Poland — 1.3% | ||||||||
Bank Handlowy w Warszawie SA | 91 | 1,587 | ||||||
Bank Millennium SA* | 1,981 | 4,535 | ||||||
Bank Polska Kasa Opieki SA | 457 | 13,703 | ||||||
CD Projekt SA* | 216 | 10,867 | ||||||
Jastrzebska Spolka Weglowa SA* | 187 | 2,851 | ||||||
KGHM Polska Miedz SA* | 342 | 9,169 | ||||||
mBank SA | 40 | 4,525 | ||||||
Polski Koncern Naftowy ORLEN SA | 804 | 21,683 | ||||||
Polskie Gornictwo Naftowe i Gazownictwo SA | 3,989 | 7,305 | ||||||
Powszechny Zaklad Ubezpieczen SA | 1,726 | 18,637 | ||||||
Santander Bank Polska SA | 100 | 9,962 | ||||||
|
| |||||||
104,824 | ||||||||
|
| |||||||
Qatar — 0.1% | ||||||||
Commercial Bank QSC | 529 | 5,826 | ||||||
Ooredoo QPSC | 244 | 4,489 | ||||||
|
| |||||||
10,315 | ||||||||
|
| |||||||
Romania — 0.1% | ||||||||
NEPI Rockcastle PLC | 1,020 | 8,587 | ||||||
|
| |||||||
Russia — 2.3% | ||||||||
Inter RAO UES PJSC | 110,479 | 6,564 | ||||||
LUKOIL PJSC | 1,335 | 111,445 | ||||||
Novatek PJSC, GDR | 245 | 42,458 | ||||||
PhosAgro PJSC, GDR | 519 | 7,090 | ||||||
Polymetal International PLC | 563 | 6,647 | ||||||
Polyus PJSC | 82 | 6,807 | ||||||
|
| |||||||
181,011 | ||||||||
|
| |||||||
Singapore — 0.1% | ||||||||
BOC Aviation Ltd., 144A | 534 | 4,619 | ||||||
|
| |||||||
South Africa — 9.7% | ||||||||
Absa Group Ltd. | 1,947 | 25,009 | ||||||
Anglo American Platinum Ltd. (a) | 138 | 7,524 | ||||||
Aspen Pharmacare Holdings Ltd. | 1,080 | 10,711 | ||||||
Bid Corp. Ltd. | 1,015 | 21,272 | ||||||
Bidvest Group Ltd. | 953 | 14,103 | ||||||
Clicks Group Ltd. | 748 | 9,611 | ||||||
Exxaro Resources Ltd. | 522 | 5,633 | ||||||
FirstRand Ltd. | 9,515 | 43,515 | ||||||
Foschini Group Ltd. | 587 | 7,173 | ||||||
Growthpoint Properties Ltd. REIT | 7,701 | 13,375 | ||||||
Hyprop Investments Ltd. REIT | 561 | 3,092 | ||||||
Investec Ltd. | 841 | 5,477 | ||||||
Kumba Iron Ore Ltd. | 161 | 4,275 | ||||||
Liberty Holdings Ltd. | 359 | 2,630 |
Number | Value | |||||||
South Africa (Continued) | ||||||||
Life Healthcare Group Holdings Ltd. | 4,045 | $ | 7,785 | |||||
Mr Price Group Ltd. | 745 | 11,439 | ||||||
MTN Group Ltd. | 4,685 | 27,830 | ||||||
MultiChoice Group Ltd.* | 1,223 | 9,138 | ||||||
Naspers Ltd., Class N | 1,223 | 264,901 | ||||||
Nedbank Group Ltd. | 1,122 | 22,695 | ||||||
Netcare Ltd. | 3,462 | 6,264 | ||||||
Pick n Pay Stores Ltd. | 1,143 | 5,636 | ||||||
Redefine Properties Ltd. REIT | 12,871 | 8,889 | ||||||
Remgro Ltd. | 1,515 | 21,680 | ||||||
Resilient REIT Ltd. REIT | 652 | 2,853 | ||||||
RMB Holdings Ltd. | 1,851 | 10,548 | ||||||
Sanlam Ltd. | 4,975 | 27,844 | ||||||
Sappi Ltd. | 1,529 | 7,857 | ||||||
Sasol Ltd. | 1,593 | 48,706 | ||||||
Shoprite Holdings Ltd. | 1,285 | 15,692 | ||||||
SPAR Group Ltd. | 537 | 7,627 | ||||||
Standard Bank Group Ltd. | 3,522 | 48,537 | ||||||
Vodacom Group Ltd. | 1,864 | 15,395 | ||||||
Woolworths Holdings Ltd. | 2,782 | 9,062 | ||||||
|
| |||||||
753,778 | ||||||||
|
| |||||||
South Korea — 9.3% | ||||||||
Amorepacific Corp. | 91 | 16,182 | ||||||
AMOREPACIFIC Group | 84 | 5,475 | ||||||
BNK Financial Group, Inc. | 601 | 3,789 | ||||||
CJ CheilJedang Corp. | 26 | 7,444 | ||||||
CJ Corp. | 40 | 4,446 | ||||||
Coway Co. Ltd. | 151 | 12,701 | ||||||
Daelim Industrial Co. Ltd. | 75 | 6,242 | ||||||
DGB Financial Group, Inc. | 399 | 3,008 | ||||||
GS Engineering & Construction Corp. | 161 | 6,127 | ||||||
GS Holdings Corp. | 61 | 2,907 | ||||||
Hana Financial Group, Inc. | 818 | 28,256 | ||||||
Hankook Tire Co. Ltd. | 215 | 8,172 | ||||||
Hanon Systems | 560 | 6,199 | ||||||
Hanwha Chemical Corp. | 324 | 6,741 | ||||||
Hotel Shilla Co. Ltd. | 87 | 6,343 | ||||||
Hyundai Engineering & Construction Co. Ltd. | 215 | 10,935 | ||||||
Hyundai Marine & Fire Insurance Co. Ltd. | 172 | 5,765 | ||||||
Industrial Bank of Korea | 613 | 7,603 | ||||||
KB Financial Group, Inc. | 1,082 | 42,666 | ||||||
Korea Gas Corp. | 58 | 2,584 | ||||||
LG Chem Ltd. | 129 | 44,789 | ||||||
LG Corp. | 268 | 17,871 | ||||||
LG Display Co. Ltd. | 732 | 13,830 | ||||||
LG Electronics, Inc. | 303 | 18,993 | ||||||
LG Household & Health Care Ltd. | 26 | 28,804 | ||||||
LG Innotek Co. Ltd. | 52 | 4,993 | ||||||
Lotte Chemical Corp. | 49 | 13,898 | ||||||
Lotte Corp. | 48 | 2,266 | ||||||
NAVER Corp. | 408 | 48,248 | ||||||
OCI Co. Ltd. | 55 | 5,281 | ||||||
Samsung Card Co. Ltd. | 121 | 3,663 | ||||||
Samsung Electro-Mechanics Co. Ltd. | 172 | 16,363 | ||||||
Samsung Fire & Marine Insurance Co. Ltd. | 88 | 23,590 |
See Notes to Financial Statements. | 25 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
South Korea (Continued) | ||||||||
Samsung SDI Co. Ltd. | 160 | $ | 33,787 | |||||
Samsung SDS Co. Ltd. | 109 | 22,339 | ||||||
Shinhan Financial Group Co. Ltd. | 1,165 | 45,214 | ||||||
SK Holdings Co. Ltd. | 89 | 21,564 | ||||||
SK Hynix, Inc. | 1,644 | 102,321 | ||||||
SK Innovation Co. Ltd. | 167 | 27,915 | ||||||
SK Telecom Co. Ltd. | 62 | 14,360 | ||||||
S-Oil Corp. | 107 | 9,514 | ||||||
Yuhan Corp. | 26 | 6,022 | ||||||
|
| |||||||
719,210 | ||||||||
|
| |||||||
Taiwan — 14.7% | ||||||||
Acer, Inc.* | 8,433 | 5,576 | ||||||
Advantech Co. Ltd. | 1,069 | 8,163 | ||||||
ASE Technology Holding Co. Ltd.* | 10,399 | 21,253 | ||||||
Asustek Computer, Inc. | 2,000 | 14,264 | ||||||
AU Optronics Corp. | 25,617 | 9,447 | ||||||
Catcher Technology Co. Ltd. | 1,834 | 13,944 | ||||||
Chailease Holding Co. Ltd. | 3,635 | 14,291 | ||||||
Cheng Shin Rubber Industry Co. Ltd. | 5,417 | 7,701 | ||||||
Chicony Electronics Co. Ltd. | 1,909 | 4,218 | ||||||
China Airlines Ltd. | 5,225 | 1,723 | ||||||
China Steel Corp. | 33,135 | 27,454 | ||||||
Chunghwa Telecom Co. Ltd. | 11,029 | 38,344 | ||||||
Compal Electronics, Inc. | 11,412 | 7,082 | ||||||
CTBC Financial Holding Co. Ltd. | 47,564 | 32,223 | ||||||
Delta Electronics, Inc. | 5,853 | 29,192 | ||||||
E.Sun Financial Holding Co. Ltd. | 27,432 | 19,698 | ||||||
Eclat Textile Co. Ltd. | 519 | 5,944 | ||||||
Eva Airways Corp. | 4,674 | 2,346 | ||||||
Evergreen Marine Corp. Taiwan Ltd. | 4,295 | 1,738 | ||||||
Far Eastern New Century Corp. | 8,178 | 8,105 | ||||||
Far EasTone Telecommunications Co. Ltd. | 4,679 | 10,962 | ||||||
Feng TAY Enterprise Co. Ltd. | 895 | 5,627 | ||||||
First Financial Holding Co. Ltd. | 23,805 | 16,088 | ||||||
Fubon Financial Holding Co. Ltd. | 19,057 | 28,174 | ||||||
Giant Manufacturing Co. Ltd. | 1,023 | 5,634 | ||||||
Hiwin Technologies Corp. | 542 | 4,878 | ||||||
Hotai Motor Co. Ltd. | 679 | 7,380 | ||||||
Innolux Corp. | 26,122 | 8,700 | ||||||
Inventec Corp. | 6,651 | 5,143 | ||||||
Lite-On Technology Corp. | 6,161 | 8,918 | ||||||
MediaTek, Inc. | 4,236 | 38,539 | ||||||
Micro-Star International Co. Ltd. | 1,908 | 5,071 | ||||||
Nan Ya Plastics Corp. | 15,456 | 38,619 | ||||||
President Chain Store Corp. | 1,677 | 17,355 | ||||||
Quanta Computer, Inc. | 7,852 | 14,594 | ||||||
Ruentex Development Co. Ltd. | 1,335 | 2,104 | ||||||
SinoPac Financial Holdings Co. Ltd. | 24,355 | 8,507 | ||||||
Standard Foods Corp. | 739 | 1,266 | ||||||
Taishin Financial Holding Co. Ltd. | 24,708 | 11,199 | ||||||
Taiwan Business Bank | 10,829 | 3,994 | ||||||
Taiwan High Speed Rail Corp. | 4,767 | 5,111 | ||||||
Taiwan Mobile Co. Ltd. | 4,439 | 15,866 | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd. | 68,596 | 532,694 | ||||||
Uni-President Enterprises Corp. | 13,477 | 32,843 |
Number | Value | |||||||
Taiwan (Continued) | ||||||||
United Microelectronics Corp. | 34,340 | $ | 12,776 | |||||
Vanguard International Semiconductor Corp. | 2,846 | 6,408 | ||||||
Wistron Corp. | 7,286 | 5,054 | ||||||
Yuanta Financial Holding Co. Ltd. | 30,144 | 17,091 | ||||||
|
| |||||||
1,143,301 | ||||||||
|
| |||||||
Thailand — 3.3% | ||||||||
Advanced Info Service PCL, NVDR | 2,900 | 16,749 | ||||||
Airports of Thailand PCL, NVDR | 11,500 | 24,633 | ||||||
Bangkok Dusit Medical Services PCL, NVDR | 10,800 | 8,088 | ||||||
Banpu PCL, NVDR | 6,900 | 3,569 | ||||||
BTS Group Holdings PCL, NVDR | 16,200 | 5,347 | ||||||
Bumrungrad Hospital PCL, NVDR | 1,100 | 6,510 | ||||||
Central Pattana PCL, NVDR | 5,200 | 12,459 | ||||||
CP ALL PCL, NVDR | 14,700 | 36,269 | ||||||
Delta Electronics Thailand PCL, NVDR | 3,200 | 7,362 | ||||||
Electricity Generating PCL, NVDR | 800 | 6,778 | ||||||
Energy Absolute PCL, NVDR | 800 | 1,212 | ||||||
Glow Energy PCL, NVDR | 2,000 | 5,776 | ||||||
Home Product Center PCL, NVDR | 14,500 | 6,902 | ||||||
Indorama Ventures PCL, NVDR | 5,000 | 8,171 | ||||||
IRPC PCL, NVDR | 17,400 | 3,258 | ||||||
Kasikornbank PCL, NVDR | 3,100 | 19,429 | ||||||
Krung Thai Bank PCL, NVDR | 9,500 | 5,818 | ||||||
Land & Houses PCL, NVDR | 20,800 | 6,931 | ||||||
Minor International PCL, NVDR | 6,100 | 7,501 | ||||||
PTT Global Chemical PCL, NVDR | 5,000 | 11,424 | ||||||
Robinson PCL, NVDR | 2,200 | 4,503 | ||||||
Siam Cement PCL, NVDR | 1,100 | 16,546 | ||||||
Siam Commercial Bank PCL, NVDR | 4,900 | 20,836 | ||||||
Thai Oil PCL, NVDR | 1,900 | 4,356 | ||||||
TMB Bank PCL, NVDR | 19,600 | 1,418 | ||||||
True Corp. PCL, NVDR | 34,100 | 5,843 | ||||||
|
| |||||||
257,688 | ||||||||
|
| |||||||
Turkey — 0.3% | ||||||||
Arcelik AS | 536 | 2,092 | ||||||
KOC Holding AS | 2,136 | 7,465 | ||||||
Tupras Turkiye Petrol Rafinerileri AS | 275 | 7,398 | ||||||
Turkiye Sise ve Cam Fabrikalari AS | 2,055 | 2,597 | ||||||
|
| |||||||
19,552 | ||||||||
|
| |||||||
United Arab Emirates — 0.8% | ||||||||
Abu Dhabi Commercial Bank PJSC | 5,791 | 15,025 | ||||||
DP World Ltd. | 372 | 5,956 | ||||||
Dubai Islamic Bank PJSC | 4,587 | 6,519 | ||||||
First Abu Dhabi Bank PJSC | 7,759 | 32,109 | ||||||
|
| |||||||
59,609 | ||||||||
|
| |||||||
United Kingdom — 0.1% | ||||||||
Mondi Ltd. | 388 | 9,140 | ||||||
|
| |||||||
TOTAL COMMON STOCKS | 6,776,676 | |||||||
|
|
See Notes to Financial Statements. | 26 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF(Continued)
February 28, 2019 (Unaudited)
Number | Value | |||||||
PREFERRED STOCKS — 4.4% | ||||||||
Brazil — 4.0% | ||||||||
Banco Bradesco SA | 9,414 | $ | 108,618 | |||||
Cia Brasileira de Distribuicao | 447 | 11,098 | ||||||
Cia Energetica de Minas Gerais | 2,285 | 8,774 | ||||||
Itau Unibanco Holding SA | 13,343 | 125,345 | ||||||
Itausa — Investimentos Itau SA | 12,104 | 39,924 | ||||||
Telefonica Brasil SA | 1,292 | 16,119 | ||||||
|
| |||||||
309,878 | ||||||||
|
| |||||||
Chile — 0.3% | ||||||||
Embotelladora Andina SA, Class B | 1,207 | 4,525 | ||||||
Sociedad Quimica y Minera de Chile SA, Class B | 362 | 15,065 | ||||||
|
| |||||||
19,590 | ||||||||
|
| |||||||
South Korea — 0.1% | ||||||||
Amorepacific Corp. | 25 | 2,478 | ||||||
CJ Corp.*(b) | 6 | 40 | ||||||
LG Chem Ltd. | 18 | 3,521 | ||||||
LG Household & Health Care Ltd. | 6 | 3,996 | ||||||
|
| |||||||
10,035 | ||||||||
|
| |||||||
TOTAL PREFERRED STOCKS | 339,503 | |||||||
|
|
Number | Value | |||||||
RIGHTS — 0.0% | ||||||||
Taiwan — 0.0% | ||||||||
CTBC Financial Holding Co. Ltd.*, expires 4/1/2019 | 319 | $ | 0 | |||||
|
| |||||||
EXCHANGE- TRADED FUNDS — 0.3% | ||||||||
iShares MSCI Emerging Markets ETF | 510 | 21,644 | ||||||
|
| |||||||
Taiwan — 0.0% | ||||||||
SECURITIES LENDING COLLATERAL — 0.1% |
| |||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares” , 2.31% (c)(d) | 10,850 | 10,850 | ||||||
|
| |||||||
CASH EQUIVALENTS — 7.8% | ||||||||
DWS Government Money Market Series “Institutional Shares”, 2.38% (c) | 608,756 | 608,756 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 99.8% | $ | 7,757,429 | ||||||
Other assets and liabilities, net — 0.2% | 11,843 | |||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 7,769,272 | ||||||
|
|
A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2019 is as follows:
Value ($) at 12/6/2018 (Commencement of Operations) | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 2/28/2019 | Value ($) at 2/28/2019 | ||||||||||||||||||||||||||||||
SECURITIES LENDING COLLATERAL—0.1% | ||||||||||||||||||||||||||||||||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 2.31% (c)(d) | ||||||||||||||||||||||||||||||||||||||
— | 10,850 | (e) | — | — | — | 14 | — | 10,850 | 10,850 | |||||||||||||||||||||||||||||
CASH EQUIVALENTS—7.8% | ||||||||||||||||||||||||||||||||||||||
DWS Government Money Market Series “Institutional Shares”, 2.38% (c) | ||||||||||||||||||||||||||||||||||||||
— | 1,828,004 | (1,219,248 | ) | — | — | 3,492 | — | 608,756 | 608,756 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||
— | 1,838,854 | (1,219,248 | ) | — | — | 3,506 | — | 619,606 | 619,606 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* | Non-income producing security. |
(a) | All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 28, 2019 amounted to $705,839, which is 9.1% 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 annualizedseven-day yield at period end. |
(d) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. In addition, the Fund heldnon-cash U.S. Treasury securities collateral having a value of $715,375. |
(e) | Represents the net increase (purchases cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 28, 2019. |
ADR: | American Depositary Receipt |
CPO: | Ordinary Participation Certificates |
GDR: | Global Depositary Receipt |
NVDR: | Non Voting Depositary Receipt |
PJSC: | Public Joint Stock Company |
QSC: | Qatari Shareholders Company |
See Notes to Financial Statements. | 27 |
DBX ETF Trust
Schedule of Investments
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF(Continued)
February 28, 2019 (Unaudited)
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. |
At February 28, 2019, open futures contract purchased was as follows:
Contract Description | Currency | Number of Contracts | Notional Amount | Contract Value | Expiration Date | Unrealized Depreciation | ||||||||||||||||||
SGX NIFTY 50 Futures | USD | 29 | $ | 630,539 | $ | 630,460 | 3/28/2019 | $ | (79 | ) |
For information on the Fund’s policy and additional disclosures regarding open futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.
Currency Abbreviations
USD | U.S. Dollar |
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2019 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) | $ | 6,776,676 | $ | — | $ | — | $ | 6,776,676 | ||||||||
Preferred Stocks (f) | 339,463 | — | 40 | 339,503 | ||||||||||||
Rights | 0 | — | — | 0 | ||||||||||||
Exchange-Traded Funds | 21,644 | — | — | 21,644 | ||||||||||||
Short-Term Investments (f) | 619,606 | — | — | 619,606 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | 7,757,389 | $ | — | $ | 40 | $ | 7,757,429 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liabilities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Derivatives (g) | ||||||||||||||||
Futures Contract | $ | (79 | ) | $ | — | $ | — | $ | (79 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL | $ | (79 | ) | $ | — | $ | — | $ | (79 | ) | ||||||
|
|
|
|
|
|
|
|
(f) | See Schedule of Investments for additional detailed categorizations. |
(g) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
See Notes to Financial Statements. | 28 |
This Page is Intentionally Left Blank
29
DBX ETF Trust
February 28, 2019 (Unaudited)
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF | Xtrackers MSCI EAFE ESG Leaders Equity ETF | Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | ||||||||||
Assets | ||||||||||||
Investment innon-affiliated securities at value | $ | 7,575,340 | $ | 7,247,972 | $ | 7,137,823 | ||||||
Investment in DWS Government Money Market Series | 150,318 | 55 | 608,756 | |||||||||
Investment in DWS Government & Agency Securities Portfolio* | 79,663 | 46,390 | 10,850 | |||||||||
Foreign currency at value | 106,163 | 8,238 | 29,720 | |||||||||
Deposit with broker for futures contracts | 7,477 | — | 27,119 | |||||||||
Receivables: | ||||||||||||
Investment securities sold | 9,311 | 4,613 | 45,849 | |||||||||
Variation margin on futures contracts | 4,945 | — | 3,655 | |||||||||
Dividends | 16,506 | 13,434 | 23,294 | |||||||||
Interest | 273 | 1 | 1,117 | |||||||||
Securities lending income | 53 | 27 | — | |||||||||
Foreign tax reclaim | 291 | 910 | — | |||||||||
|
|
|
|
|
| |||||||
Total Assets | $ | 7,950,340 | $ | 7,321,640 | $ | 7,888,183 | ||||||
|
|
|
|
|
| |||||||
Liabilities | ||||||||||||
Payable upon return of securities loaned | $ | 79,663 | $ | 46,390 | $ | 10,850 | ||||||
Payables: | ||||||||||||
Investment securities purchased | 111,624 | 5,432 | 106,902 | |||||||||
Investment advisory fees | 932 | 767 | 1,159 | |||||||||
|
|
|
|
|
| |||||||
Total Liabilities | 192,219 | 52,589 | 118,911 | |||||||||
|
|
|
|
|
| |||||||
Net Assets, at value | $ | 7,758,121 | $ | 7,269,051 | $ | 7,769,272 | ||||||
|
|
|
|
|
| |||||||
Net Assets Consist of | ||||||||||||
Paid-in capital | $ | 7,501,563 | $ | 7,507,639 | $ | 7,485,979 | ||||||
Distributable earnings (loss) | 256,558 | (238,588 | ) | 283,293 | ||||||||
|
|
|
|
|
| |||||||
Net Assets, at value | $ | 7,758,121 | $ | 7,269,051 | $ | 7,769,272 | ||||||
|
|
|
|
|
| |||||||
Number of Common Shares outstanding | 300,001 | 300,001 | 300,001 | |||||||||
|
|
|
|
|
| |||||||
Net Asset Value | $ | 25.86 | $ | 24.23 | $ | 25.90 | ||||||
|
|
|
|
|
| |||||||
Investment innon-affiliated securities at cost | $ | 7,344,717 | $ | 7,494,675 | $ | 6,886,672 | ||||||
|
|
|
|
|
| |||||||
Value of securities loaned | $ | 254,291 | $ | 47,016 | $ | 705,839 | ||||||
|
|
|
|
|
| |||||||
Investment in DWS Government Money Market Series at cost | $ | 150,318 | $ | 55 | $ | 608,756 | ||||||
|
|
|
|
|
| |||||||
Investment in DWS Government & Agency Securities Portfolio at cost* | $ | 79,663 | $ | 46,390 | $ | 10,850 | ||||||
|
|
|
|
|
| |||||||
Non-cash collateral for securities on loan | $ | 193,484 | $ | 9,989 | $ | 715,375 | ||||||
|
|
|
|
|
| |||||||
Foreign currency at cost | $ | 105,222 | $ | 8,173 | $ | 29,114 | ||||||
|
|
|
|
|
|
* | Represents collateral on securities loaned. |
See Notes to Financial Statements. | 30 |
DBX ETF Trust
For the Six Months Ended February 28, 2019 (Unaudited)
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF(1) | Xtrackers MSCI EAFE ESG Leaders Equity ETF(2) | Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF(1) | ||||||||||
Investment Income | ||||||||||||
Unaffiliated dividend income* | $ | 32,321 | $ | 68,343 | $ | 29,210 | ||||||
Income distribution from affiliated funds | 973 | 30 | 3,492 | |||||||||
Unaffiliatednon-cash dividend income | 2,190 | 11,236 | 8,370 | |||||||||
Affiliated securities lending income | 203 | 414 | 14 | |||||||||
Unaffiliated securities lending income, net of borrower rebates | — | — | 17 | |||||||||
|
|
|
|
|
| |||||||
Total investment income | 35,687 | 80,023 | 41,103 | |||||||||
|
|
|
|
|
| |||||||
Expenses | ||||||||||||
Investment advisory fees | 2,750 | 4,803 | 3,457 | |||||||||
|
|
|
|
|
| |||||||
Total expenses | 2,750 | 4,803 | 3,457 | |||||||||
|
|
|
|
|
| |||||||
Less fees waived (see note 3): | ||||||||||||
Waiver | (37 | ) | (1 | ) | (105 | ) | ||||||
|
|
|
|
|
| |||||||
Net Expenses | 2,713 | 4,802 | 3,352 | |||||||||
|
|
|
|
|
| |||||||
Net Investment income (loss) | 32,974 | 75,221 | 37,751 | |||||||||
|
|
|
|
|
| |||||||
Realized and Unrealized Gain (Loss) | ||||||||||||
Net realized gain (loss) from: | ||||||||||||
Investments | (375 | ) | (7,848 | ) | 2,672 | |||||||
Investments in affiliates | — | (18 | ) | — | ||||||||
Futures contracts | 1,007 | — | (7,267 | ) | ||||||||
Foreign currency transactions | 4,674 | (2,689 | ) | 17,249 | ||||||||
|
|
|
|
|
| |||||||
Net realized gain (loss) | 5,306 | (10,555 | ) | 12,654 | ||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||
Investments | 230,623 | (246,703 | ) | 251,151 | ||||||||
Futures contracts | (22 | ) | — | (79 | ) | |||||||
Foreign currency translations | 961 | 77 | 587 | |||||||||
|
|
|
|
|
| |||||||
Net change in unrealized appreciation (depreciation) | 231,562 | (246,626 | ) | 251,659 | ||||||||
|
|
|
|
|
| |||||||
Net realized and unrealized gain (loss) on investments, futures and foreign currency transactions | 236,868 | (257,181 | ) | 264,313 | ||||||||
|
|
|
|
|
| |||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 269,842 | $ | (181,960 | ) | $ | 302,064 | |||||
|
|
|
|
|
| |||||||
* Unaffiliated foreign tax withheld | $ | 3,705 | $ | 6,727 | $ | 4,254 |
(1) | For the period December 6, 2018 (commencement of operations) through February 28, 2019. |
(2) | For the period September 6, 2018 (commencement of operations) through February 28, 2019. |
See Notes to Financial Statements. | 31 |
DBX ETF Trust
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF | Xtrackers MSCI EAFE ESG Leaders Equity ETF | Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | ||||||||||
For the Period December 6, 2018(1) to February 28, 2019 | For the Period September 6, 2018(1) to February 28, 2019 | For the Period December 6, 2018(1) to February 28, 2019 | ||||||||||
Increase (Decrease) in Net Assets from Operations | ||||||||||||
Net investment income (loss) | $ | 32,974 | $ | 75,221 | $ | 37,751 | ||||||
Net realized gain (loss) | 5,306 | (10,555 | ) | 12,654 | ||||||||
Net change in net unrealized appreciation (depreciation) | 231,562 | (246,626 | ) | 251,659 | ||||||||
|
|
|
|
|
| |||||||
Net increase (decrease) in net assets resulting from operations | 269,842 | (181,960 | ) | 302,064 | ||||||||
|
|
|
|
|
| |||||||
Distributions to Shareholders | (13,284 | ) | (56,628 | ) | (18,771 | ) | ||||||
|
|
|
|
|
| |||||||
Fund Shares Transactions | ||||||||||||
Proceeds from shares sold | 7,501,538 | 7,507,614 | 7,485,954 | |||||||||
Value of shares redeemed | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Net increase (decrease) in net assets resulting from fund share transactions | 7,501,538 | 7,507,614 | 7,485,954 | |||||||||
|
|
|
|
|
| |||||||
Total net increase (decrease) in Net Assets | 7,758,096 | 7,269,026 | 7,769,247 | |||||||||
Net Assets | ||||||||||||
Beginning of period | 25 | 25 | 25 | |||||||||
|
|
|
|
|
| |||||||
End of period | $ | 7,758,121 | $ | 7,269,051 | $ | 7,769,272 | ||||||
|
|
|
|
|
| |||||||
Changes in Shares Outstanding | ||||||||||||
Shares outstanding, beginning of period | 1 | 1 | 1 | |||||||||
Shares sold | 300,000 | 300,000 | 300,000 | |||||||||
Shares redeemed | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Shares outstanding, end of period | 300,001 | 300,001 | 300,001 | |||||||||
|
|
|
|
|
|
(1) | Commencement of Operations. |
See Notes to Financial Statements. | 32 |
DBX ETF Trust
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF Selected Per Share Data | Period Ended 2/28/2019(a) | |||
Net Asset Value, beginning of period | $ | 25.00 | ||
|
| |||
Income (loss) from investment operations: | ||||
Net investment income (loss) (c) | 0.11 | |||
Net realized and unrealized gain (loss) | 0.79 | |||
|
| |||
Total from investment operations | 0.90 | |||
|
| |||
Less distributions from: | ||||
Net investment income | (0.04 | ) | ||
|
| |||
Total distributions | (0.04 | ) | ||
|
| |||
Net Asset Value, end of period | $ | 25.86 | ||
|
| |||
Total Return (%) | 3.63 | (d)** | ||
Ratios to Average Net Assets and Supplemental Data | ||||
Net Assets, end of period ($ millions) | 8 | |||
Ratio of expenses before fee waiver (%) | 0.16 | * | ||
Ratio of expenses after fee waiver (%) | 0.16 | * | ||
Ratio of net investment income (loss) (%) | 1.92 | * | ||
Portfolio turnover rate (%) (e) | 0 | ** | ||
Xtrackers MSCI EAFE ESG Leaders Equity ETF Selected Per Share Data | Period Ended 2/28/2019(b) | |||
Net Asset Value, beginning of period | $ | 25.00 | ||
|
| |||
Income (loss) from investment operations: | ||||
Net investment income (loss) (c) | 0.25 | |||
Net realized and unrealized gain (loss) | (0.83 | ) | ||
|
| |||
Total from investment operations | (0.58 | ) | ||
|
| |||
Less distributions from: |
| |||
Net investment income | (0.18 | ) | ||
Net realized gains | (0.01 | ) | ||
|
| |||
Total distributions | (0.19 | ) | ||
|
| |||
Net Asset Value, end of period | $ | 24.23 | ||
|
| |||
Total Return (%) | (2.27 | )(d)** | ||
Ratios to Average Net Assets and Supplemental Data | ||||
Net Assets, end of period ($ millions) | 7 | |||
Ratio of expenses before fee waiver (%) | 0.14 | * | ||
Ratio of expenses after fee waiver (%) | 0.14 | * | ||
Ratio of net investment income (loss) (%) | 2.19 | * | ||
Portfolio turnover rate (%) (e) | 2 | ** |
(a) | For the period December 6, 2018 (commencement of operations) through February 28, 2019. |
(b) | For the period September 6, 2018 (commencement of operations) through February 28, 2019. |
(c) | Based on average shares outstanding during the period. |
(d) | Total return would have been lower if certain expenses had not been reimbursed by the Advisor. |
(e) | Portfolio turnover rate does not include securities received or delivered from processing creations or redemptions. |
* | Annualized. |
** | Not Annualized. |
See Notes to Financial Statements. | 33 |
DBX ETF Trust
Financial Highlights(Continued)
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF Selected Per Share Data | Period Ended 2/28/2019(a) | |||
Net Asset Value, beginning of period | $ | 25.00 | ||
|
| |||
Income (loss) from investment operations: | ||||
Net investment income (loss)(b) | 0.13 | |||
Net realized and unrealized gain (loss) | 0.83 | |||
|
| |||
Total from investment operations | 0.96 | |||
|
| |||
Less distributions from: |
| |||
Net investment income | (0.06 | ) | ||
|
| |||
Total distributions | (0.06 | ) | ||
|
| |||
Net Asset Value, end of period | $ | 25.90 | ||
|
| |||
Total Return (%) | 3.87 | (c)** | ||
Ratios to Average Net Assets and Supplemental Data | ||||
Net Assets, end of period ($ millions) | 8 | |||
Ratio of expenses before fee waiver (%) | 0.20 | * | ||
Ratio of expenses after fee waiver (%) | 0.19 | * | ||
Ratio of net investment income (loss) (%) | 2.18 | * | ||
Portfolio turnover rate (%)(d) | 1 | ** |
(a) | For the period December 6, 2018 (commencement of operations) through February 28, 2019. |
(b) | Based on average shares outstanding during the period. |
(c) | Total return would have been lower if certain expenses had not been reimbursed by the Advisor. |
(d) | Portfolio turnover rate does not include securities received or delivered from processing creations or redemptions. |
* | Annualized. |
** | Not Annualized. |
See Notes to Financial Statements. | 34 |
DBX ETF Trust
1. Organization
DBX ETF Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “Act”), as anopen-end registered management investment company organized as a Delaware statutory trust.
As of February 28, 2019, the Trust consists of thirty-eight 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 MSCI ACWI ex USA ESG Leaders Equity ETF |
Xtrackers MSCI EAFE ESG Leaders Equity ETF |
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF |
DBX Advisors LLC (“DBX” or the “Advisor”), an indirect, wholly-owned subsidiary of DWS Group Gmbh & Co. KGaA (“DWS Group”), serves as investment advisor to the Funds and has overall responsibility for the general management and administration of the Funds, subject to the supervision of the Funds’ Board of Trustees (“Board”).
Each Fund offers shares that are listed and traded on the NYSE Arca, Inc. (“NYSE Arca”). Unlike conventional mutual funds, each Fund issues and redeems shares on a continuous basis, at net asset value (“NAV”), only in large specified lots consisting of 50,000 shares, each called a “Creation Unit”, to authorized participants who have entered into agreements with the Funds’ distributor. Shares are not individually redeemable securities of the Funds, and owners of the shares may acquire those shares from the Funds, or tender such shares for redemption to the Funds, in Creation Units only.
The investment objective of each Fund is to track the performance, before fees and expenses, of a particular index (the “Underlying Index”). The underlying indices for the Funds are:
Fund | Underlying Index | |
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF | MSCI ACWI ex USA ESG Leaders Index | |
Xtrackers MSCI EAFE ESG Leaders Equity ETF Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | MSCI EAFE ESG Leaders Index MSCI Emerging Markets ESG Leaders Index |
The MSCI ACWI ex USA ESG Leaders Index is a capitalization weighted index that provides exposure to companies with high environmental, social and governance (“ESG”) performance relative to their sector peers. The Underlying Index is constructed using regional indexes that provide exposure to large- and medium-capitalization companies from developed and emerging markets countries (excluding the United States). The Underlying Index is rebalanced quarterly in February, May, August and November, and thus the Fund rebalances its portfolio in a corresponding fashion.
The MSCI EAFE ESG Leaders Index is a capitalization weighted index that provides exposure to companies with high environmental, social and governance (“ESG”) performance relative to their sector peers. The Underlying Index consists of large- and medium-capitalization companies across developed markets countries, excluding Canada and the United States. The Underlying Index is rebalanced quarterly in February, May, August and November, and thus the Fund rebalances its portfolio in a corresponding fashion.
The MSCI Emerging Markets ESG Leaders Index is a capitalization weighted index that provides exposure to companies with high environmental, social and governance (“ESG”) performance relative to their sector peers. The Underlying Index consists of large- and medium-capitalization companies across emerging markets countries. The Underlying Index is rebalanced quarterly in February, May, August and November, and thus the Fund rebalances its portfolio in a corresponding fashion.
Each Fund is entitled to use its respective Underlying Index pursuant to a licensing agreement between the Index Provider and DBX. There is no charge to the Funds in connection with these licensing agreements.
Each Fund isnon-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.
35
DBX ETF Trust
Notes to Financial Statements(Unaudited) (Continued)
Pursuant to the Trust’s organizational documents, the Trust’s officers and trustees are indemnified against certain liabilities that may arise out of the performance of their duties to the Funds. Additionally, in the normal course of business the Trust enters into contracts that contain a variety of representations that provide indemnification for certain liabilities. The Trust’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Funds that have not yet occurred. However, the Trust expects the risk of loss to be remote.
2. Significant Accounting Policies
The financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”), which require management to make certain estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. Each Fund qualifies as an investment company under Topic 946 of Accounting Standards Codification of U.S. GAAP. The following is a summary of significant accounting policies followed by the Funds.
Security Valuation The NAV of each Fund’s shares is calculated each business day as of the close of regular trading on the New York Stock Exchange, generally 4:00 p.m. Eastern Time. NAV per share is calculated by dividing a Fund’s net assets by the number of Fund shares outstanding.
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) orover-the-counter market on which they trade. Securities or ETFs for which no sales are reported are valued at the calculated mean between the most recent bid and asked quotations on the relevant market or, if a mean cannot be determined, at the most recent bid quotation. Equity securities and ETFs are generally categorized as Level 1.
Investments inopen-end investment companies are valued at their NAV each business day and are categorized as Level 1.
Futures contracts are generally valued at the settlement prices established each day on the exchange on which they are traded and are categorized as Level 1.
Securities and other assets for which market quotations are not readily available or for which the above valuation procedures are deemed not to reflect fair value are valued in a manner that is intended to reflect their fair value as determined in accordance with procedures approved by the Board and are generally categorized as Level 3. In accordance with the Funds’ valuation procedures, factors considered in determining value may include, but are not limited to, the type of the security; the size of the holding; the initial cost of the security; the existence of any contractual restrictions on the security’s disposition; the price and extent of public trading in similar securities of the issuer or of comparable companies; quotations or evaluated prices from broker-dealers and/or pricing services; information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities); an analysis of the company’s or issuer’s financial statements; an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold; and with respect to debt securities, the maturity, coupon, creditworthiness, currency denomination and the movement of the market in which the security is normally traded. The value determined under these procedures may differ from published values for the same securities.
Fair value pricing could result in a difference between the prices used to calculate a Fund’s NAV and the prices used by the Fund’s Underlying Index, which in turn could result in a difference between the Fund’s performance and the performance of the Fund’s Underlying Index.
Disclosure about the classification of the fair value measurements is included in a table following the Fund’s Schedule of Investments.
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DBX ETF Trust
Notes to Financial Statements(Unaudited) (Continued)
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 theex-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 each Fund to pay out dividends from net investment income, if any, to investors semi-annually. 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 theex-dividend date. The amount of dividends and distributions from net investment income and net realized capital gains are determined in accordance with Federal income tax regulations which may differ from U.S. GAAP. These “book/tax” differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified at the end of the year within the components of net assets based on their federal tax treatment; temporary differences do not require reclassification. Dividends and distributions, which exceed earnings and profits for the full year for tax purposes, are reported as a tax return of capital.
In accordance with U.S. GAAP requirements regarding accounting for uncertainties in income taxes, management has analyzed the Funds’ tax positions taken or expected to be taken on foreign, federal and state income tax returns for all open tax years and has concluded that no provision for income tax is required in the Funds’ financial statements.
The Funds recognize interest and penalties, if any, related to uncertain tax positions as income tax expense on the Statements of Operations. For the period ended February 28, 2019, the Funds did not incur any interest or penalties.
The tax character of current year distributions will be determined at the end of the current fiscal year.
Foreign Taxes The Funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, capital gains on investments, certain foreign currency transactions or other corporate events. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which the Funds invest. These foreign taxes, if any, are paid by the Funds and are reflected in their Statements of Operations as follows: foreign taxes withheld at source are presented as a reduction of income, foreign taxes on capital gains from sales of investments and foreign currency transactions are included in their respective net realized gain (loss) categories, and deferred foreign taxes on unrealized gains are included in net change in unrealized appreciation (depreciation). Foreign taxes payable as of February 28, 2019, if any, are disclosed in the Funds’ Statements of Assets and Liabilities.
Foreign Currency Translations The books and records of the Funds are maintained in U.S. dollars. Investment securities and other assets and liabilities denominated in a foreign currency are translated into U.S. dollars at the prevailing exchange rates at period end. Purchases and sales of investment securities, income and expenses are translated into U.S. dollars at the prevailing exchange rates on the respective dates of the transactions.
Net realized and unrealized gains and losses on foreign currency transactions represent net gains and losses between trade and settlement dates on securities transactions, the acquisition and disposition of foreign currencies, and the difference between the amount of net investment income accrued and the U.S. dollar amount
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DBX ETF Trust
Notes to Financial Statements(Unaudited) (Continued)
actually received. The portion of both realized and unrealized gains and losses on investments that results from fluctuations in foreign currency exchange rates is not separately disclosed, but is included with net realized and unrealized gain/appreciation and loss/depreciation on investments.
Securities Lending The Funds may lend securities to certain financial institutions under the terms of their securities lending agreement. During the term of the loans, the Funds continue to receive interest and dividends generated by the securities and to participate in any changes in their market value. The Funds require the borrowers of the securities to maintain collateral with the Funds consisting of cash and/or securities issued or guaranteed by the U.S. Government, its agencies or instrumentalities having a value at least equal to the value of the securities loaned. When the collateral falls below specified amounts, the lending agent will use its best effort to obtain additional collateral on the next business day to meet required amounts under the securities lending agreement. During the period ended February 28, 2019, 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 (0.11% annualized effective rate as of February 28, 2019) on the cash collateral invested in DWS Government & Agency Securities Portfolio. The Funds receive compensation for lending its securities either in the form of fees or by earning interest on invested cash collateral net of borrower rebates and fees paid to a lending agent. Either the Fund or the borrower may terminate the loan at any time and the borrower, after notice, is required to return borrowed securities within a standard time period. There may be risks of delay and costs in recovery of securities or even loss of rights in the collateral should the borrower of the securities fail financially. If the Funds are not able to recover securities lent, the Funds may sell the collateral and purchase a replacement investment in the market, incurring the risk that the value of the replacement security is greater than the value of the collateral. The Funds are also subject to all investment risks associated with the reinvestment of any cash collateral received, including, but not limited to, interest rate, credit and liquidity risk associated with such investments.
As of February 28, 2019, 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 February 28, 2019 | ||||||||||||||||||||
Securities Lending Transactions | Overnight and Continuous | <30 Days | Between 30 & 90 days | >90 days | Total | |||||||||||||||
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF |
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Common Stocks | $ | 79,663 | $ | — | $ | 113 | $ | 193,371 | $ | 273,147 | ||||||||||
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Gross amount of recognized liabilities for securities lending transactions |
| $ | 273,147 | |||||||||||||||||
Xtrackers MSCI EAFE ESG Leaders Equity ETF |
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Common Stocks | $ | 46,390 | $ | — | $ | 4 | $ | 9,985 | $ | 56,379 | ||||||||||
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Gross amount of recognized liabilities for securities lending transactions |
| $ | 56,379 | |||||||||||||||||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF |
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Common Stocks | $ | 10,850 | $ | 16,974 | $ | 26,053 | $ | 672,348 | $ | 726,225 | ||||||||||
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Gross amount of recognized liabilities for securities lending transactions |
| $ | 726,225 |
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. ornon-U.S. exchange. No Fund will use futures for speculative purposes. Futures contracts provide for the future sale by one party and purchase by another party of a specified amount of a specific instrument or index at a specified future time and at a specified price. For the period ended February 28, 2019, Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF and Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF utilized futures in order to simulate investment in the Funds’ Underlying Index. To the extent required by law, liquid assets committed to futures contracts will be maintained.
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DBX ETF Trust
Notes to Financial Statements(Unaudited) (Continued)
At the time each Fund enters into a futures contract, each Fund deposits and maintains as collateral an initial margin with the broker, as required by the exchange on which the transaction is affected. Pursuant to the contract, each Fund agrees to receive from or pay to the broker an amount of cash equal to the daily fluctuation in the value of the contract. Such receipts or payments are known as variation margin and are recorded by each Fund as unrealized gains or losses. Risks may arise from the potential inability of a counterparty to meet the terms of the contract. The credit/counterparty risk for exchange-traded futures contracts is generally less than privately negotiated futures contracts, since the clearinghouse, which is the issuer or counterparty to each exchange-traded future, provides a guarantee of performance. The guarantee is supported by a daily payment system (i.e., margin requirements).
Use of long futures contracts subjects each Fund to risk of loss in excess of the amounts shown on the Statement of Assets and Liabilities, up to the notional value of the futures contracts. Use of short futures contracts subjects each Fund to unlimited risk of loss. Under some circumstances, futures exchanges may establish daily limits on the amount that the price of a futures contract can vary from the previous day’s settlement price, which could effectively prevent liquidation of unfavorable positions.
A summary of the open futures contracts as of February 28, 2019 is included in a table following the Funds’ Schedule of Investments.
The following tables summarize the value of the Funds’ derivative instruments held as of February 28, 2019 and the related location in the accompanying Statement of Assets and Liabilities, presented by primary underlying risk exposure:
Asset Derivatives | Liability Derivatives | |||||||||||||
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF | ||||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | — | Unrealized depreciation on futures contracts* | $ | 22 | ||||||||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | ||||||||||||||
Equity contracts | Unrealized appreciation on futures contracts* | $ | — | Unrealized depreciation on futures contracts* | $ | 79 |
* | Includes cumulative appreciation or cumulative depreciation of futures contracts as disclosed in the Schedule of Investments. Unsettled variation margin is disclosed separately within the Statement of Assets and Liabilities. |
Additionally, the amount of realized and unrealized gains and losses on derivative instruments recognized in the Funds’ earnings during the period ended February 28, 2019 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 MSCI ACWI ex USA ESG Leaders Equity ETF | $ | 1,007 | ||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | (7,267 | ) | ||
Net Change in Unrealized Appreciation (Depreciation) on: | ||||
Futures Contracts — Equity Contracts | ||||
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF | $ | (22 | ) | |
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | (79 | ) |
For the period ended February 28, 2019 the average monthly volume of derivatives was as follows:
Futures Contracts (Contract Value) | ||||
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF | $ | 233,191 | ||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | 665,051 |
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DBX ETF Trust
Notes to Financial Statements(Unaudited) (Continued)
Affiliated Cash Management Vehicles The Funds may invest uninvested cash balances in DWS Government Money Market Series and DWS ESG Liquidity Fund, affiliated money market funds which are managed by DWS Investment Management Americas, Inc. (“DIMA”), also an indirect, wholly owned subsidiary of DWS Group GmbH & Co. KGaA. Each affiliated money market fund is managed in accordance with Rule2a-7 under the 1940 Act, which governs the quality, maturity, diversity and liquidity of instruments in which a money market fund may invest. DWS Government Money Market Series seeks to maintain a stable net asset value, and DWS ESG Liquidity Fund maintains a floating net asset value. The Funds indirectly bear their proportionate share of the expenses of each affiliated money market fund in which they invest. The Advisor will waive an amount of the unitary management fee payable to the Advisor by the Funds equal to such acquired fund’s fees and expenses on the Funds’ assets invested in the affiliated money market funds.
3. Investment Advisory and Other Agreements
The Advisor has overall responsibility for the general management and administration of the Funds, subject to the supervision of the Funds’ Board of Trustees. Under an investment advisory agreement between the Trust, on behalf of the Funds, and the Advisor (the “Investment Advisory Agreement”), the Advisor is responsible for arrangingsub-advisory, transfer agency, custody, fund administration, and all othernon-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 MSCI ACWI ex USA ESG Leaders Equity ETF | 0.16 | % | ||
Xtrackers MSCI EAFE ESG Leaders Equity ETF | 0.14 | % | ||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | 0.20 | % |
The Advisor for the Funds below has contractually agreed to waive a portion of its management fees in an amount equal to the acquired fund’s fees and expenses attributable to the Funds’ investments in affiliated cash management vehicles. For the period ended February 28, 2019, the Advisor waived expenses of the Fund’s as follows:
Expenses Waived | ||||
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF | $ | 37 | ||
Xtrackers MSCI EAFE ESG Leaders Equity ETF | 1 | |||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | 105 |
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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DBX ETF Trust
Notes to Financial Statements(Unaudited) (Continued)
4. Investment Portfolio Transactions
For the period ended February 28, 2019, the cost of investments purchased and proceeds from sale of investments (excludingin-kind transactions and short-term investments) were as follows:
Purchases | Sales | |||||||
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF (1) | $ | 7,368,210 | $ | 24,694 | ||||
Xtrackers MSCI EAFE ESG Leaders Equity ETF (2) | 7,667,253 | 166,629 | ||||||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (1) | 6,952,212 | 69,447 |
(1) | For the period December 6, 2018 (commencement of operations) through February 28, 2019. |
(2) | For the period September 6, 2018 (commencement of operations) through February 28, 2019. |
5. Fund Share Transactions
As of February 28, 2019, 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 thein-kind contribution of a designated portfolio of securities constituting a portfolio sampling representation of the securities included in the respective Fund’s Underlying Index and an amount of cash, which under certain circumstances may include cash in lieu of portfolio securities. Investors purchasing and redeeming Creation Units pay a purchase transaction fee and a redemption transaction fee to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units.
6. Concentration of Ownership
From time to time, the Funds may have a concentration of several shareholder accounts holding a significant percentage of shares outstanding. Investment activities of these shareholders could have a material impact on the Fund. At February 28, 2019, 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 MSCI ACWI ex USA ESG Leaders Equity ETF | 92 | % | ||
Xtrackers MSCI EAFE ESG Leaders Equity ETF | 98 | % | ||
Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | 97 | % |
7. Investing in Emerging Markets
The securities of issuers located in emerging markets tend to be more volatile and less liquid than securities of issuers located in more mature economies, and emerging markets generally have less diverse and less mature economic structures and less stable political systems than those of developed countries. The securities of issuers located or doing substantial business in emerging markets are often subject to rapid and large changes in price.
41
DBX ETF Trust
Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF, Xtrackers MSCI EAFE ESG Leaders Equity ETF and Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF
After discussions at the meeting of the Board of Trustees (“Board” or “Trustees”) held onFebruary 11-12, 2019 (the “Meeting”), the Trustees, including the Independent Trustees (those not affiliated with DBX ETF Trust (the “Trust”) or its service providers), unanimously approved the continuance1 of the Investment Advisory Agreement with respect toXtrackers MSCI ACWI ex USA ESG Leaders Equity ETF, Xtrackers MSCI EAFE ESG Leaders Equity ETF and Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF (each a “Fund,” and collectively, the “Funds”). The Independent Trustees were advised throughout the review and Meeting by K&L Gates LLP (“Independent Trustee Counsel”).
Before reaching their decision to approve the Investment Advisory Agreement for another annual period, the Independent Trustees evaluated the materials furnished to them in advance of the Meeting from DBX Advisors LLC (“DBX” or the “Advisor”) for purposes of reviewing the agreement’s terms and also took into consideration the discussions they had with management during the Meeting and among themselves during their Executive Sessions held on February 11 and February 12, 2019. The Independent Trustees also noted that they had received and should take into consideration a substantial amount of information furnished throughout the year at regular Board meetings, which information included, among other things, an analysis of each Fund’s investment performance and related financial information, presentations given by DBX, as well as its periodic reports on brokerage commissions, portfolio execution and other services provided to the Funds.
In reaching its decision to continue in effect the Investment Advisory Agreement for another annual period, the Board considered all factors it believed relevant, including (1) the nature, extent and quality of the services provided to the Funds and their shareholders; (2) the financial resources of DBX and its resulting ability to perform its obligations under the Investment Advisory Agreement; (3) the competitiveness of the advisory fee; (4) the total cost of the services provided by and the profits realized by the Advisor from its relationship with the Funds; (5) the extent to which economies of scale have been realized, and if the Funds’ shareholders have benefitted from those economies; and (6) fall out benefits, if any, enjoyed by the Advisor.
The Board reached a determination, with the assistance of Dechert LLP (“Trust Counsel”) and through the exercise of its business judgment, that approval of the Investment Advisory Agreement and the compensation to be received thereunder is in the best interests of each Fund and its shareholders as well as consistent with the Board’s duties under state and federal law. The Board reached this conclusion based on multiple factors.
Nature, Extent and Quality of Services. The Board reviewed in detail the nature, extent and quality of services provided by the Advisor under the Investment Advisory Agreement. In doing so, the Board considered the information it had received from and the discussions it had with the Advisor continuously during the prior year, in addition to the information the Advisor had provided in response to the Board’s requests prior to the Meeting. The Board considered that these services include, among other things, furnishing a continuous investment program for the Funds, including arranging for, or implementing, the purchase and sale of portfolio securities, the provision of general corporate services such as portfolio management compliance services and the preparation and filing of certain reports on behalf of the Trust. The Board also considered, among other things, the professional experience, qualifications and performance of the senior management and key professional personnel of the Advisor, including portfolio management.
The Board considered that the Advisor provides, at its own expense, office facilities and equipment for use by the Funds and supervisory persons responsible for supervising and monitoring the Trust’s service providers. The Board also considered that the Advisor pays or arranges for the compensation of officers of the Trust who are also officers or employees of the Advisor or one of its Deutsche Bank affiliates, except as may otherwise be determined by the Board. In addition, the Board considered that the Advisor arranges for the provision of transfer agency, custody, fund administration and accounting, and othernon-distribution services necessary for the Funds’ operations. The Board also considered that in addition to managing the Funds’ portfolios directly, the Advisor provides oversight ofday-to-day operations, including monitoring tracking error, providing services in
1 At a meeting held on November 14, 2017, the Board, including the Independent Trustees (those not affiliated with the Trust or its service providers), unanimously approved the initial Investment Advisory Agreement with the Funds.
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DBX ETF Trust
Board Considerations in Approval of Investment Advisory Contracts(Unaudited) (Continued)
connection with the creation and redemption of creation units and assistance in meeting legal, compliance and regulatory requirements applicable to the Funds. The Trustees took into consideration that tracking error for each Fund during the year was in an expected range.
Based on its review, the Board concluded that the nature, extent, and quality of services provided by the Advisor under the Investment Advisory Agreement are reasonable and appropriate in relation to the fees paid to the Advisor, taking special consideration of the fact that the advisory fee is a unitary fee and, as a result, a portion of the unitary advisory fee will be used to compensate the Funds’ service providers. The Board considered the staffing of the Advisor, including the training, qualifications and experience of investment personnel in managing the Funds. The Board also considered the expertise of the Advisor in supervising third party service providers to the Funds, such as the administrator and the custodian, noting the Advisor’s extensive work with these service providers (including onsite due diligence sessions) to conduct such supervision. The Board further considered the compliance program of the Advisor, which supports the Funds’ compliance program.
Advisor’s Financial Resources. In connection with the assessment of the ability of the Advisor to perform its duties under the Investment Advisory Agreement, the Board considered the Advisor’s financial condition and whether it has the resources necessary to carry out its functions. The Board concluded that the Advisor has the financial resources necessary to perform its obligations under the Investment Advisory Agreement.
Reasonableness of Advisory Fee. The Board compared each Fund’s advisory fee to that of other pertinent exchange-traded funds (“ETFs”) and noted that each Fund’s fee is competitive with the fees of its respective peer group. The Board agreed that it was familiar with the Advisor’s methodology for selecting each Fund’s peer group and believed that the Funds’ peer groups were appropriate. The Board considered that the fee for each of the Funds is a unitary fee pursuant to which the Advisor pays all of the Funds’ costs (subject to certain specified exceptions). The Board also considered that each Fund’s portfolio is managed on aday-to-day basis by the Advisor and that the Advisor also provides oversight ofday-to-day operations, including monitoring tracking error, providing services in connection with creation and redemption units and assistance in meeting legal and regulatory requirements applicable to the Funds. Based on its review, the Board concluded that the advisory fee for each Fund is reasonable in light of the services provided.
Costs of Services and Profitability. The Board considered the expenses of the Advisor in developing and rendering services provided to the Funds and the information provided by the Advisor to the Board regarding the Funds’ profitability. The Board considered that the Advisor had provided extensive information about the Advisor’s profitability and the Advisor’s methodology in determining profitability. While the Advisor had provided information about the Advisor’s expenses relating to marketing the Funds, the Board considered the Advisor’s profitability without accounting for such expenses. The Board determined that, although only some of the Funds were profitable as of this time, the Advisor’s profitability with respect to each profitable Fund was not excessive. The Board considered whether the Advisor would benefit in other ways from its relationships with the Funds and concluded that there were no materialfall-out benefits likely to accrue to the Advisor related to the operation of the Funds.
Economies of Scale. The Board considered that certain Funds had attracted a substantial amount of assets, but determined that those Funds were not experiencing economies of scale beyond what was reflected in each Fund’s unitary fee, which the Board noted was very competitive. The Board considered that the other Funds were not experiencing economies of scale at this time and determined to revisit this matter after the Funds had attracted more assets.
Given all the information available to it and considering all material factors, the Board concluded that the Investment Advisory Agreement was fair and reasonable and it was unanimously approved.
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DBX ETF Trust
Proxy Voting Policies and Procedures
The Funds’ policies and procedures for voting proxies for portfolio securities and information about how each Fund voted proxies related to its portfolio securities during the most recent12-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 FormN-Q or Form N-PORT (available for filings after March 31, 2019). 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 at855-329-3837.
Information about each Fund’s portfolio holdings is available daily at www.Xtrackers.com.
Discount & Premium Information
Information regarding how often shares of each Fund traded on NYSE Arca at a price above (i.e.,at a premium) or below (i.e., at a discount) the NAV of the Fund can be found at www.Xtrackers.com.
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DBX ETF Trust
DBX Advisors LLC (“Advisors”) collectsnon-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 anynon-public personal information about you to anyone, other than as set forth below, as permitted by applicable law and regulation. Advisors may disclosenon-public personal information about you to the funds in which you invest, to Advisors’ affiliates, and tonon-affiliated companies that work with Advisors to service your account(s), or to provide services or process transactions that you have requested. Advisors may disclosenon-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 disclosenon-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 yournon-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.
45
DBX ETF Trust
This report is intended for the shareholders of the DBX ETF Trust.
This report must be preceded or accompanied by a prospectus.
Investing involves risk, including the possible loss of principal. ESG criteria in a Fund’s investment strategy does not guarantee a return or protect against loss. Stocks may decline in value. Foreign investing involves greater and different risks than investing in US companies, including currency fluctuations, less liquidity, less developed or less efficient trading markets, lack of comprehensive company information, political instability and differing auditing and legal standards. With respect to EMSG and ACSG, 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. These Funds arenon-diversified and can take larger positions in fewer issues, increasing its potential risk. Performance of a Fund may diverge from that of its Underlying Index due to operating expenses, transaction costs, cash flows, use of sampling strategies or operational inefficiencies. An investment in any Fund should be considered only as a supplement to a complete investment program for those investors willing to accept the risks associated with the 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 NYSE Arca, Inc. Transactions in Fund shares may result in brokerage commissions and may generate tax consequences. There can be no assurance that an active trading market for shares of a Fund will develop or be maintained.
DBX ETF Trust Funds are distributed by ALPS Distributors, Inc. (“ALPS”). The Funds are managed by DBX Advisors LLC which is not affiliated with ALPS.
The brand DWS represents DWS Group GmbH & Co. KGaA and any of its subsidiaries such as DWS Distributors, Inc. which offers investment products or Deutsche Investment Management Americas Inc. and RREEF America L.L.C. which offer advisory services.
The Funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such Funds or securities or any index on which such Funds or securities are based. The prospectus contains a more detailed description of the limited relationship MSCI has with DBX and any related funds.
Copyright © 2019 DWS Group. All rights reserved. XtrackersTM is a trademark of DWS Investment GmbH. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
Not FDIC Insured | No Bank Guarantee | May Lose Value
DBX ETF Trust
Investment advisor DBX Advisors LLC 345 Park Avenue New York, NY 10154 | Administrator, custodian, 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-065808-1 (4/19) DBX003835 (4/20)
Item 2. | Code of Ethics. |
Not applicable.
Item 3. | Audit Committee Financial Expert. |
Not applicable.
Item 4. | Principal Accountant Fees and Services. |
Not applicable.
Item 5. | Audit Committee of Listed Registrants. |
Not applicable.
Item 6. | Investments. |
(a) | Schedule of Investments in securities of unaffiliated issuers as of the close of the reporting period is included as part of the report to shareholders filed under Item 1 of this form. |
(b) | Not applicable. |
Item 7. | Disclosure of Proxy Voting Policies and Procedures forClosed-End Management Investment Companies. |
Not applicable.
Item 8. | Portfolio Managers ofClosed-End Management Investment Companies. |
Not applicable.
Item 9. | Purchases of Equity Securities byClosed-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.
[Please verify, please provide further information if this statement is not correct.]
Item 11. | Controls and Procedures. |
(a) | The Chief Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on the evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report. |
(b) | There were no changes in the registrant’s internal control over financial reporting (as defined in Rule30a-3(d) under the 1940 Act (17 CFR270.30a-3(d))) that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 12. | Disclosure of Securities Lending Activities forClosed-End Management Investment Companies. |
Not applicable.
Item 13. | Exhibits. |
(a)(1) | Not applicable. | |
(a)(2) | Certifications pursuant to Rule30a-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 Rule30a-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 5/3/2019
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 5/3/2019
By (Signature and Title)* | /s/ Michael Gilligan | |
Michael Gilligan | ||
Treasurer, Chief Financial Officer and Controller |
Date 5/3/2019
* | Print the name and title of each signing officer under his or her signature. |