Xtrackers S P 500 Defensive Shareholder Yield UCITS ETF 1cIndex, costs, backtest, listings and taxation

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The fund is passively managed.

INVESTMENT OBJECTIVE:The aim is for your investment to reflect the performance of the S&P 500 Resilient Shareholder Yield Index (index) which is designed to reflect the performance of large capitalisation US companies with high shareholder yields.

DESCRIPTION OF INDEX:The index aims to measure the performance of 100 companies with high and resilient shareholder yields from the S&P 500 Index (Parent Index).

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Companies from the Parent Index which meet certain eligibility criteria, including but not limited to those having a “Composite Score”, a positive shareholder yield below a certain threshold and not classified within certain sectors as defined in the index methodology will constitute the eligible universe (Eligible Universe). Companies from the Eligible Universe are ranked by order of their shareholder yield and the highest ranking 50% of companies are selected; these companies are then ranked by their Composite Score (based on free cash flow to debt, return on equity, shareholder yield and sustained shareholder capital return growth) and the highest ranking companies are selected for inclusion in the index until a target count of 100 is reached.

INDEX REBALANCING, CALCULATION AND ADMINISTRATION:The index is calculated on a total return net basis which means that all dividends and distributions by the companies are reinvested in the shares after tax. The composition of the index is reviewed on a semi-annual basis.

INVESTMENT POLICY:To achieve the aim, the fund will attempt to replicate the index, before fees and expenses, by buying all or a substantial number of the securities in the index. 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, full disclosure on the composition of the fund's portfolio and information on the index constituents) are available on your local DWS website or at www.Xtrackers.com. Transaction costs and taxes, unexpected fund costs and market conditions such as volatility or liquidity issues may affect the ability of the fund to track the index. The anticipated level of tracking error in normal market conditions is 1 per cent. The currency of the fund is USD. Returns and gains are not distributed but are reinvested in the fund. You may request the redemption of shares generally on a daily basis.

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