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ETF sheet · Issuer-declared data
Actively managed: it does not track an index — the declared benchmark is a yardstick for comparison
🇮🇹 Effective capital-gains rate: 25.56%details →

Xtrackers Floating Rate Notes Active UCITS ETF 1cIndex, costs, backtest, listings and taxation

ISIN: IE000F04HGE5Ticker: XFLN (Borsa Italiana) · XFLN (Xetra) · XFLN (SIX)Issuer: Xtrackers
Issuer-declared data
TER
0.12%
Transaction costs
0.06% (issuer estimate, from the KID)
Management
Active management (from the KID)
Replication
Gestione attiva (dal KID)
Income policy
SFDR
Article 6 — does not promote specific ESG characteristics — inferred (issuer documents do not declare art. 8/9) what does it mean?
Fund assets
27.5 mln EUR
Domicile
Ireland
Inception date
4 December 2025
Data as declared by Xtrackers in the issuer’s official files and endpoints · collected on 2 September 2026 (monthly refresh). Facts only, no recommendation.
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Description

Xtrackers Floating Rate Notes Active UCITS ETF 1c is an actively managed ETF: it does not track an index. The declared annual cost (TER) is 0.12%, plus 0.06% in transaction costs estimated by the issuer in the KID. Income is accumulated and reinvested in the fund. The fund has assets of about 27 million euro, was launched on 4 December 2025 and is domiciled in Ireland.

The fund’s objective — in the issuer’s words

The fund is actively managed. The fund is not managed in reference to a benchmark.

Keep reading the KID section ▾

INVESTMENT OBJECTIVE:The objective of the investment policy is to achieve before fees and expenses an excess return over a benchmark reflecting the performance of EUR-denominated, investment grade floating-rate notes with a maturity of up to three years through investment in fixed income securities. INVESTMENT STRATEGY: The fund: i) will invest primarily in floating rate notes issued by issuers contained in the iBoxx EUR FRN Investment Grade 0-3 Capped Index (Performance Benchmark) (Benchmark Issuer Securities); and ii) may also invest from time to time in other fixed income securities, money market instruments, collective investment schemes or other ancillary liquid assets which may include bank deposits, certificates of deposit, fixed or floating rate instruments, commercial paper, and freely transferable promissory notes, for purposes including, but not limited to, investing temporary cash balances and efficient portfolio management in accordance with the Investment Restrictions (together with the Benchmark Issuer Securities, referred to as the “Invested Assets”). The fund does not target any particular level of outperformance of the Performance Benchmark. Investors should note that any outperformance may be minimal, may be negatively impacted by fees and may ultimately be unachievable. The investment manager for the fund is DWS Investment GmbH. The sub-portfolio manager is DWS Investments UK Limited. Both the investment manager and sub-portfolio manager will be responsible for the day-to-day investment management of the Fund, including the allocation of the Invested Assets and cash re-investments. The selection of the Invested Assets may be based on in-depth analysis of various indicators including, but not limited to, analysis of: Relevant industries, the issuer, instrument specific characteristics, and or macroeconomic and market conditions.

INVESTMENT POLICY:The fund may employ techniques and instruments in order to manage risk, reduce costs and improve results. These techniques and instruments may include the use of financial contracts (derivatives). FURTHER INFORMATION: Certain information (including the latest share prices of the fund, indicative net asset values and full disclosure on the composition of the fund's portfolio) is available on your local DWS website or at www.Xtrackers.com. The currency of the fund is EUR. Returns and gains are not distributed but are reinvested in the fund. You may request the redemption of shares generally on a daily basis.

From the KID’s “Objectives” section · 4 August 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

Quick reads

  • TER 0.12%: below the median of bond ETFs we track (0.15%).
Comparisons computed by Rebalix on the declared data in our census; they describe the past and are not indicative of future results.

Official documents

Key Information Document (KID)PDF in English, from the issuer’s site — always the latest filed versionProspectusPDF in English, from the issuer’s site — the fund’s full legal documentFactsheetPDF in English, from the issuer’s site — the fund’s monthly snapshot
The KID is the document the law requires you to read before investing: 3 pages covering risks, costs and scenarios. The link opens the issuer’s published PDF.

Fund performance

issuer-declared net asset value (NAV) · EUR · from Dec 2025 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+1.9%
Annualised
+2.6%
Volatility (ann.)
0.1%
Max drawdown
-0.01%
-3%-1%+1%+3%+5%Dec 2025Feb 2026Apr 2026Jun 2026Sept 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+2%Dec 2025Sept 2026
Tip: drag across the chart to zoom into a period.

Drawdown — distance from previous peak

This isn’t the return: it shows how far the fund is below its previous peak. 0% = you’re at the peak; below zero = how much you’re down and haven’t recovered yet.
0%-1%-2%-3%-4%20252026−0.01% · 13 Mar 2026
Max drawdown
-0.01%
peak → trough
Trough
13 Mar 2026
from the 11 Mar 2026 peak
Recovery time
3 days
recovery only: trough to break-even
Underwater
5 days
decline + recovery: peak to break-even · → recovered on 16 Mar 2026

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
11 Mar 202613 Mar 2026-0.01%16 Mar 20265
18 Mar 202620 Mar 2026-0.01%25 Mar 20267
02 Mar 202603 Mar 2026-0.00%04 Mar 20262
26 Mar 202627 Mar 2026-0.00%30 Mar 20264
29 Apr 202630 Apr 2026-0.00%01 May 20262

Calendar-year returns

2025
0.2%
2026
1.8%
Source: Xtrackers. Issuer-declared historical series; inflation: Eurostat and national statistical institutes, latest available July 2026 — for later days the index stays at the last published value (institutes publish with a few weeks’ lag). The «adjusted for inflation» view expresses value in today’s purchasing power for the selected country; volatility always stays nominal, as elsewhere on the site (deflating it would add artificial swings caused by the monthly cadence of the price index). Past performance is not indicative of future results: these are facts, not a recommendation.

Risk indicators· EUR

Full history
Volatility (ann.)0.12%
Max drawdown-0.01%
Sharpe2.57
Sortino4.63
Windows longer than the available price history cannot be computed and are not shown: they will appear on their own as time passes. Computed from the daily NAV series, always in nominal terms. Sharpe and Sortino use the ECB main refinancing rate averaged over the period (last year: 2.22%), weighted by days in force, as the risk-free rate. Same formulas as our public methodology: sample standard deviation annualised over 252 days; Sortino with downside deviation. Past performance is not indicative of future results. Figures in EUR, the fund's currency; the table follows the currency selected in the chart.

Duration and maturities

Duration · modified duration
0.13years

Price sensitivity to rates: the longer, the more the fund moves. What is duration →

Source: product page Xtrackers, data as of 20 August 2026. Values as declared by the issuer, not computed by us; updated with the monthly document.

Portfolio holdings

Securities in portfolio
178
Top-10 weight
10.5%

Top 10 holdings

-
1.85%
AMAZON.COM INC
1.45%
AT+T INC
1.09%
KBC IFIMA SA
1.09%
NTT FINANCE CORP
1.02%
AUST + NZ BANKING GROUP
0.91%
GOLDMAN SACHS GROUP INC
0.88%
CA AUTOBANK SPA IE
0.73%
CAIXABANK SA
0.73%
MORGAN STANLEY
0.73%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustralia: 4%AustriaAzerbaijanBurundiBelgium: 1.8%BeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanada: 12.3%SwitzerlandChileChinaIvory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech RepublicGermany: 9%DjiboutiDenmark: 3.3%Dominican RepublicAlgeriaEcuadorEgyptEritreaSpain: 2.6%EstoniaEthiopiaFinland: 3.5%FijiFalkland IslandsFrance: 10.5%GabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesiaIndiaIreland: 3.3%IranIraqIcelandIsraelItaly: 2%JamaicaJordanJapan: 1.4%KazakhstanKenyaKyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourg: 2.2%LatviaMoroccoMoldovaMadagascarMexicoMacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlands: 10.4%Norway: 0.7%NepalNew ZealandOmanPakistanPanamaPeruPhilippinesPapua New GuineaPolandPuerto RicoNorth KoreaPortugalParaguayQatarRomaniaRussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSweden: 4.3%SwazilandSyriaChadTogoThailandTajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwanUnited Republic of TanzaniaUgandaUkraineUruguayUnited States of America: 18.6%UzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth AfricaZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
United States18.6%
Canada12.3%
France10.5%
United Kingdom10.5%
Netherlands10.4%
Germany9%
Sweden4.3%
⬇ Download the full portfolio — Excel, 178 rows
Full portfolio declared by Xtrackers, as of 2 September 2026: this is the summary. Percentages may not sum to 100 due to cash, derivatives and rounding.
Fund historyFund-assets (AUM) chart year by year and monthly basket snapshots.Open the history →

Italian taxation

Effective rate on capital gains
25.56%
White-list share
3.29%
From the government-bond («white list») share certified by the issuer every semester: 12.5% on that portion, 26% on the rest.
Deep-dive into this fund’s taxation →

Where it shows up commission-free in Italy

According to the official lists published by the brokers (downloaded and cross-checked by us), these share classes of the fund appear tradable with zero fees:

IE000F04HGE5XFLN
  • Directazero within the savings plan (buys)
  • Finecozero on buys (single orders and savings plan) — promo list renewed monthly: check it is still listed
Full terms, traps and method in the observatory: Free savings plans and zero-commission ETFs: the broker survey

Official lists verified on 3 September 2026. We record published terms — this is neither an invitation to open accounts nor a recommendation: lists change, the broker’s documents prevail. Trade Republic, Scalable Capital and Trading 212 publish no per-ISIN lists and don’t appear here.

Stock exchange listings

ExchangeTickerTrading since
Borsa Italiana (ETFplus)XFLN20 May 2026
Börse DüsseldorfXFLN20 Jan 2026
Börse FrankfurtXFLN20 Jan 2026
Börse HamburgXFLN13 May 2026
Börse HannoverXFLN30 Jan 2026
Börse München / gettexXFLN20 Jan 2026
Börse StuttgartXFLN27 Feb 2026
Tradegate ExchangeXFLN22 Jan 2026
Xetra (Deutsche Börse)XFLN20 Jan 2026
+ 10 more trading venues (MTFs and professional platforms).
Trading venues from the official ESMA register (FIRDS); per-exchange tickers from the issuer’s tax documents and official listings. A dash “—” = that venue does not publish the item (ticker, currency or start date) in the sources we read. The same fund may trade in different currencies depending on the exchange: check the trading currency with your broker. Non-EU listings (e.g. UK, Mexico) not included.

Frequently asked questions

How much does XFLN cost?
The issuer-declared TER is 0.12% per year; the transaction costs estimated in the KID are 0.06%.
How is XFLN taxed in Italy?
On sale, the capital gain is taxed at an effective 25.56% rate (white-list share 3.29%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of XFLN?
The fund size declared by Xtrackers is about 27 million euro.
When was XFLN launched?
The fund was launched on 4 December 2025: it has been trading for 275 days: the page fills up as the issuer publishes data.
Is XFLN actively or passively managed?
It is an ACTIVELY managed ETF: the manager picks the holdings, it does not replicate an index.
Does XFLN pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Accumulating”).
Where does XFLN trade?
Per the official ESMA register it trades on 9 main exchanges, including Borsa Italiana (ETFplus) (XFLN), Börse Düsseldorf (XFLN), Börse Frankfurt (XFLN), Börse Hamburg (XFLN), Börse Hannover (XFLN), Börse München / gettex (XFLN).
How many securities does XFLN hold?
The declared portfolio holds 178 securities; the top 10 positions weigh 10.5%.
Transparency note
The data in this sheet is declared by Xtrackers in the issuer’s official files and endpoints, collected by Rebalix with a monthly refresh; taxation derives from the issuer’s tax documents (Italian Law Decree 138/2011). This is factual information for informational purposes only: it is not financial or tax advice, nor an investment recommendation. Read the fund’s KID and prospectus before investing.