ETF sheet · Issuer-declared data

Xtrackers S P 500 Swap UCITS ETF 5c Eur HedgedIndex, costs, backtest, listings and taxation

ISIN: LU2196472984Ticker: XS5EIssuer: XtrackersCurrency hedging: EUR-hedged share class

North America Equity tracking the S&P 500 INDEX (USD), synthetic (swap) replication, accumulating. Share class in euro (EUR), currency-hedged.

0.20% + 0.00%

TER + KID transaction costs ✓ declared by the issuer

358

rows published by the issuer · holdings ↓ ✓ declared by the issuer

8.6 bn €

fund assets ✓ declared by the issuer

Every figure carries its provenance: ✓ declared by the issuer in its documents · ≈ computed by Rebalix on the declared data.

Fund

Name

Xtrackers S P 500 Swap UCITS ETF 5c Eur Hedged

Declared index

S&P 500 INDEX (USD)

Management

Passive (index-tracking) (from the KID)

Replication

Synthetic (swap)

SFDR

not declared in the sources we read ≈ Rebalix reading: Article 6 (issuer documents do not declare art. 8/9) what does it mean?

Fund assets

8.6 bn EUR

Domicile

Luxembourg

Share class · this page

ISIN

LU2196472984

Ticker

XS5E

Share-class currency

euro (EUR) · currency-hedged

TER

0.20% (period and nature not declared by the source)

Transaction costs

0.00% (issuer estimate, from the KID)

Income policy

Accumulating

Share-class launch

22 September 2021

Data as declared by Xtrackers in the issuer’s official files and endpoints · collected on 17 October 2026 (monthly refresh). Facts only, no recommendation.

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OverviewIn this sectionQuick reads Fund objective What changed over time

Quick reads

TER 0.20%below the median of equity ETFs we track (0.23%).≈ computed by Rebalix
Assetslarger than 95% of equity ETFs we track.≈ computed by Rebalix
358 rowspublished by the issuer; completeness of the list not declared✓ declared by the issuer
Top 10 = 28.8%of the fund✓ declared by the issuer

✓ declared by the issuer · ≈ computed by Rebalix on the declared data in our census. They describe the past and are not indicative of future results.

Description and fund objective

Xtrackers S P 500 Swap UCITS ETF 5c Eur Hedged tracks the issuer-declared index: S&P 500 INDEX (USD). Mind the share class: this is the version hedged to EUR — returns reflect the index plus the effect (and cost) of hedging into that currency. The declared annual cost (TER) is 0.20%, plus 0.00% in transaction costs estimated by the issuer in the KID. Replication is synthetic replication via a swap contract, as the KID declares; income is accumulated and reinvested in the fund. The fund has assets of about 8.6 billion euro, was launched on 22 September 2021 and is domiciled in Luxembourg. In our registry it is the largest by assets among the 4 ETFs declaring the same index.

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

The fund is passively managed.
INVESTMENT OBJECTIVE:The aim is for your investment to reflect the performance of the S&P 500 Index (index) which is designed to reflect the performance of shares of 500 companies representing all major US industries, while seeking to minimise foreign currency fluctuations at share class level.
Keep reading the KID section ▾
DESCRIPTION OF INDEX:The index contains shares of large companies traded on certain eligible US exchanges.
A company’s weighting in the index depends on its relative size based on the combined value of a company’s readily available shares as compared to other companies on the stock markets.
INDEX REBALANCING, CALCULATION AND ADMINISTRATION:The index is administered by Standard & Poor's. 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. Changes to the index are made as needed with no annual or semi-annual reconstitution.
INVESTMENT POLICY:To achieve the aim, the fund will i) invest in transferable securities and enter into financial contracts (derivatives) with one or more swap counterparties relating to transferable securities and the net or gross total return version of the index (swap index), in order to obtain the return on the swap index, and ii) enter into financial contracts (derivatives) which attempt to reduce the effect of exchange rate fluctuations between the currency of the index components and the currency of your shares. The gross total return version of the index calculates the performance of the stocks assuming that all dividends and distributions are reinvested on a gross basis. The swap index shall be selected in the absolute discretion of the Investment Manager. 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.

From the KID’s “Objectives” section · KID acquired on 4 August 2026 · original document ↓

Text generated from the data the issuer declares in official product lists. No recommendation.

What has changed in the fund over time

Every month we snapshot the register and the holdings and keep the picture. The history shows how the fund changes, not only what it is today.

Share-class launch
22 September 2021
declared by the issuer
Basket snapshots
3 monthly
since August 2026
Dated events
none so far
TER, index, name, tax: every change is an event

Open the history →

Italian taxation

Ordinary rate on income and gains: 26%
Share of tax-favoured government bonds: not available in the issuer sources consulted by Rebalix
Effective rate for this fund: cannot be determined by Rebalix with the available data

For individuals resident in Italy, outside business activity. Any tax-favoured component may reduce the effective levy. The intermediary may hold tax information not published on the issuer’s website; the absence of the figure on Rebalix does not imply a zero favoured share.

Deep-dive into this fund’s taxation →

PerformanceIn this sectionChart Backtest Tracking difference

Fund performance

issuer-declared net asset value (NAV) · EUR · from Sept 2021 to Oct 2026

Adjusted for inflationCompare with the index

Compare with another ETF

Only funds we hold a history for. Three at a time, at most.

Return

+64.5%

Annualised

+10.3%

Volatility (ann.)

16.9%

Max drawdown

-26.38%

22 Sept 2021 → 16 Oct 20265 years and 1 month · +64.5%

Accumulating class: income is reinvested inside the fund and already reflected in the NAV; no distribution is left out of the chart.

Calculations on the NAV: issuer total-return series not available.

Currency-hedged share class: our figures are computed on the issuer’s NAV, where the hedge is applied at the daily fixing. NAV and exchange prices can differ, so comparison sites using the price may show different returns and volatility: any specific gap can only be judged by comparing the series, dates and method used. Details in the methodology.

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.

Max drawdown

-26.38%

peak → trough

Trough

12 Oct 2022

from the 04 Jan 2022 peak

Recovery time

478 days

recovery only: trough to break-even · ≈ 1 year and 4 months

Underwater

759 days

decline + recovery: peak to break-even · ≈ 2 years and 1 month · → recovered on 02 Feb 2024

The five worst falls in the period

From the peak of	Trough	Depth	Back to break-even	Days underwater
04 Jan 2022	12 Oct 2022	-26.38%	02 Feb 2024	759
19 Feb 2025	08 Apr 2025	-18.71%	27 Jun 2025	128
12 Jan 2026	30 Mar 2026	-9.47%	15 Apr 2026	93
16 Jul 2024	05 Aug 2024	-8.46%	19 Sept 2024	65
28 Mar 2024	19 Apr 2024	-5.56%	15 May 2024	48

Calendar-year returns

2021

8.5%

since launch, 22 Sept

2022

-21.1%

2023

22.8%

2024

22.6%

2025

15.1%

2026

10.7%

2021: the share class was launched on 22 September 2021; the return runs from launch to 31 December 2021 and is not a full year.

Month-by-month returns

2026Year 10.7%

Jan

1.3

Feb

-0.9

Mar

-5.3

Apr

10.0

May

5.1

Jun

-1.1

Jul

-0.2

Aug

2.6

Sept

-0.5

Oct

0.1

Nov

Dec

2025Year 15.1%

Jan

2.6

Feb

-1.4

Mar

-5.6

Apr

-0.9

May

6.2

Jun

4.8

Jul

2.0

Aug

1.8

Sept

3.4

Oct

2.1

Nov

0.1

Dec

-0.2

2024Year 22.6%

Jan

1.6

Feb

5.2

Mar

3.1

Apr

-4.3

May

4.8

Jun

3.5

Jul

1.0

Aug

2.2

Sept

2.0

Oct

-1.1

Nov

5.8

Dec

-2.6

2023Year 22.8%

Jan

6.0

Feb

-2.8

Mar

3.4

Apr

1.4

May

0.3

Jun

6.3

Jul

3.0

Aug

-1.8

Sept

-5.0

Oct

-2.2

Nov

8.9

Dec

4.4

2022Year -21.1%

Jan

-5.2

Feb

-3.0

Mar

3.5

Apr

-9.1

May

-0.0

Jun

-8.6

Jul

9.1

Aug

-4.5

Sept

-9.7

Oct

7.6

Nov

5.0

Dec

-6.0

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sept	Oct	Nov	Dec	Year
2026	1.3	-0.9	-5.3	10.0	5.1	-1.1	-0.2	2.6	-0.5	0.1			10.7
2025	2.6	-1.4	-5.6	-0.9	6.2	4.8	2.0	1.8	3.4	2.1	0.1	-0.2	15.1
2024	1.6	5.2	3.1	-4.3	4.8	3.5	1.0	2.2	2.0	-1.1	5.8	-2.6	22.6
2023	6.0	-2.8	3.4	1.4	0.3	6.3	3.0	-1.8	-5.0	-2.2	8.9	4.4	22.8
2022	-5.2	-3.0	3.5	-9.1	-0.0	-8.6	9.1	-4.5	-9.7	7.6	5.0	-6.0	-21.1
2021										7.2	-0.7	4.3	8.5(since launch)

From month-end NAVs, over the fund’s full history, on the series shown in the chart (dividends reinvested: where declared). Deeper colour = larger move.

Method and sources

Source: Xtrackers. Issuer-declared historical series; inflation: Eurostat and national statistical institutes, latest available August 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.

Tracking difference — fund vs index

We do not publish a tracking difference for this share class — and it is not an oversight.

this share class is hedged to EUR; the index the issuer places next to it in its documents is the unhedged, foreign-currency version. Subtracting one from the other does not measure replication quality: it measures the exchange rate. In a year when the currency moves 5%, “the TD” would come out near 5 points — a plausible-looking number, with decimals, and wrong.

Other sites publish that number. We would rather show one figure less than one figure wrong: the TD will return here the day we have the EUR-hedged index series, which the issuer does not publish today.

What tracking difference is and how we compute it →

RiskIn this sectionRisk

Risk indicators· EUR

Last year

Volatility (ann.)12.76%

Max drawdown-9.47%

Sharpe0.90

Sortino1.31

Last 3 years

Volatility (ann.)14.69%

Max drawdown-18.71%

Sharpe1.05

Sortino1.54

Last 5 years

Volatility (ann.)16.97%

Max drawdown-26.38%

Sharpe0.50

Sortino0.71

	Last year	Last 3 years	Last 5 years
Volatility (ann.)	12.76%	14.69%	16.97%
Max drawdown	-9.47%	-18.71%	-26.38%
Sharpe	0.90	1.05	0.50
Sortino	1.31	1.54	0.71

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: 2.25%), 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.

PortfolioIn this sectionHoldings

Portfolio holdings

Rows in the published list

358

Top-10 weight

28.8%

Top 10 holdings

MICROSOFT CORP

4.91%

NVIDIA CORP

4.68%

TESLA INC

3.22%

APPLE INC

2.90%

WALMART INC

2.51%

AMAZON.COM INC

2.29%

ADVANCED MICRO DEVICES

2.24%

MICRON TECHNOLOGY INC

2.01%

PALO ALTO NETWORKS INC

2.01%

KLA CORP

1.99%

⬇ Download the published holdings — Excel, 358 rows

Holdings as published by Xtrackers, holdings as at 2 October 2026: 358 rows archived by Rebalix, summarised here. Rebalix has no statement from the issuer on the completeness of this list. Weights are reported without rescaling and may not sum to 100%. Synthetic replication: the list shows the substitute basket (securities held as swap collateral), which can differ substantially from the replicated index. The fund’s economic exposure is that of its declared index. How Rebalix verifies portfolio holdings →

StructureIn this sectionIndex Same index Exchanges

Index tracked

S&P 500 INDEX (USD)

This fund belongs to the S&P 500 family: compare all census ETFs in this family →

ETFs declaring the same index

Fund	TER	Income	Fund size
Xtrackers S P 500 UCITS ETF 4c compare ⇄ Xtrackers · 3 classes	0.03%	Acc.	3.7 mld EUR
Xtrackers S P 500 Swap Ii UCITS ETF 1c compare ⇄ Xtrackers · 2 classes	0.04%	Dist. · Acc.	5.2 mld EUR
Xtrackers S P 500 Swap UCITS ETF 1d compare ⇄ Xtrackers · 2 classes	0.07%	Dist. · Acc.	8.6 mld EUR

4 ETFs in our census declare this index (including this fund). Funds declaring the exact same index, word for word, in official product lists. Differently-worded variants (or other index versions) are not shown: a short list beats a wrong match. Sorted as follows: Milan-listed classes first, then the others; within each group by ascending TER, then by descending assets. A dash “—” = not declared by the issuer in the files we read — not a zero.

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:

LU2196472984

Directazero within the savings plan (buys)
Directazero on single buys from 1,000 €, agreement until 31 December 2026
Finecozero on buys (single orders and savings plan) — promo list renewed monthly: check it is still listed
Moneyfarmzero within the savings plan (buys), agreement until 22 May 2027
Moneyfarmzero on single buys from 1,000 €, agreement until 22 May 2027

Full terms, traps and method in the observatory: Free savings plans and zero-commission ETFs: the broker survey

Official lists verified on 15 October 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

Exchanges with a ticker available· in alphabetical order

Exchange	Ticker	Exchange source	Registered since
Borsa Italiana (ETFplus)	XS5Efrom mapping	ESMA register (FIRDS)	27 Oct 2021
Börse Düsseldorf	XS5Efrom mapping	ESMA register (FIRDS)	12 Oct 2021
Börse Frankfurt	XS5Efrom mapping	ESMA register (FIRDS)	28 Sept 2021
Börse Hamburg	XS5Efrom mapping	ESMA register (FIRDS)	13 Oct 2021
Börse Hannover	XS5Efrom mapping	ESMA register (FIRDS)	9 Dec 2024
Börse München / gettex	XS5Efrom mapping	ESMA register (FIRDS)	28 Sept 2021
Börse Stuttgart	XS5Efrom mapping	ESMA register (FIRDS)	30 Sept 2021
Tradegate Exchange	XS5Efrom mapping	ESMA register (FIRDS)	27 Oct 2021
Xetra (Deutsche Börse)	XS5Efrom mapping	ESMA register (FIRDS)	28 Sept 2021

from mapping — ticker obtained by ISIN→exchange mapping under the open FIGI standard, not read from the exchange’s list.

Each row is one exchange: the operator with all its markets and segments (regulated market and Freiverkehr included). “Registered since”: admission date in the ESMA register (FIRDS), not necessarily the first trading day; a dash = date not recorded in the sources.

+ 6 other trading platforms (platforms for professional participants and segments without admission to listing, such as an exchange operator’s dark books or auctions): they are not exchanges and are not listed.

Exchanges are taken from the official ESMA register (FIRDS) and, where FIRDS does not cover the exchange (London, Zurich) or does not record the current listing, from the issuers’ product lists and documents: the “Exchange source” column says so row by row. Each exchange is a single row, with all its markets and segments. Tickers come from the issuers’ product lists and tax documents or, where indicated, from ISIN→exchange mapping under the open FIGI standard (OpenFIGI). Activity on a dark book, an auction or an ancillary platform does not prove a listing on the exchange that operates it. Rebalix mainly covers venues in the European Economic Area, Switzerland and the United Kingdom: when the issuer declares current listings in other jurisdictions too, they appear with their source, outside the ESMA register perimeter. Terminated or cancelled listings are not shown. The same fund may trade in different currencies depending on the exchange: check the trading currency with your broker.

DocumentsIn this sectionDocuments FAQ

Official documents

Key Information Document (KID)PDF in English, from the issuer’s site — always the latest filed version ProspectusPDF in English, from the issuer’s site — the fund’s full legal document FactsheetPDF 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.

Frequently asked questions

Which index does Xtrackers S P 500 Swap UCITS ETF 5c Eur Hedged track?

The issuer Xtrackers declares the benchmark: S&P 500 INDEX (USD).

How much does XS5E cost?

The issuer-declared TER is 0.20% per year (period and nature not declared by the source); the transaction costs estimated in the KID are 0.00%.

What is the fund size of XS5E?

The fund size declared by Xtrackers is about 8.6 billion euro.

When was XS5E launched?

The fund was launched on 22 September 2021: it has 5 years of history.

How does XS5E replicate its index?

It is a passively managed ETF: it follows the declared index. Synthetic (swap) (issuer wording: “Sintetica - swap (dal KID)”).

Does XS5E pay dividends?

No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Accumulating”).

Where does XS5E trade?

Per the official ESMA register (FIRDS) and the issuer’s documents it is listed on 9 exchanges with a ticker available, including Borsa Italiana (ETFplus) (XS5E), Börse Düsseldorf (XS5E), Börse Frankfurt (XS5E), Börse Hamburg (XS5E), Börse Hannover (XS5E), Börse München / gettex (XS5E).

What was XS5E's worst fall?

Over the available history (since 2021), the maximum drawdown was -26.38%, reached in October 2022. Past performance is not indicative of future results.

How many positions does XS5E publish?

The list published by the issuer and archived by Rebalix has 358 rows; the top 10 weigh 28.8%. The issuer does not declare the list as complete: rows are reported as published, weights included, even where a position has zero weight.

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.

Do you represent the issuer? Report a correction or an update