Xtrackers Eurozone Government Bond 1 3 UCITS ETF 2c Usd HedgedIndex, 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 Markit iBoxx EUR Eurozone (DE ES FR IT NL) 1-3 Index (index), while seeking to minimise foreign currency fluctuations at share class level.

DESCRIPTION OF INDEX:The index reflects the performance of tradable debt (bonds) denominated in Euro or preEuro currencies issued by governments of five Eurozone countries: France, Germany, Italy, Netherlands and Spain.

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The composition of the index is rebalanced according to a pre-set methodology. For bonds to be included in the index, they must, on the relevant rebalancing date, have a remaining time to maturity of at least one year and up to three years. The bonds must have a fixed rate of interest and must be part of an issue of debt which has at least €1 billion in principal outstanding.

INDEX REBALANCING, CALCULATION AND ADMINISTRATION:The index is calculated on a total return basis, which means that amounts equivalent to interest payments on the bonds are reinvested in the index. The index is administered by IHS Markit Benchmark Administration Limited and reviewed and rebalanced monthly.

INVESTMENT POLICY:To achieve the aim, the fund will i) attempt to replicate the index, before fees and expenses, by buying a portfolio of securities that may comprise the constituents of the index or other unrelated investments as determined by DWS entities and ii) enter into financial contracts (derivatives) which attempt to reduce the effect of exchange rate fluctuations between the currency of the fund's assets and the currency of your shares. 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 derivatives. The fund may also engage in secured lending of its investments to certain eligible third parties to generate additional income to offset the costs of the fund. 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 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.

this share class is hedged to USD; 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 USD-hedged index series, which the issuer does not publish today.

What tracking difference is and how we compute it →

Countries

ETFs declaring the same index