Xtrackers Scalable Msci Ac World Leveraged Daily Swap Xtrackers 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 provide a leveraged return of the MSCI ACWI Index (Underlying Index) by entering into swaps on a leveraged version of the Underlying Index, the MSCI ACWI Leveraged 2X Select Index Daily (index). It is expected that in the majority of circumstances, the rate of targeted leverage will be 200% (2X) but such targeted rate of leverage may vary between 150% (1.5X) and 200% (2X).

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The sub-portfolio manager for the fund is DWS Investments UK Limited. DWS Investments UK Limited has appointed Scalable Capital Bank GmbH (Portfolio Construction Advisor) to provide investment advisory services with regard to the composition of the portfolio, including the swap agreements (Proposed Composition). DESCRIPTION OF THE INDEX: The index reflects a 2X leveraged performance of the Underlying Index on a daily basis, less a rate of interest. This means that the level of the index should rise and fall at double the rate of the Underlying Index. The interest rate taken from the index level is based on on a EUR secured overnight interest rate (€STR). The Underlying Index is designed to reflect the performance of listed equity securities of large and medium capitalisation companies across developed and emerging market countries globally. A company’s weighting in the Underlying Index depends on its relative size.

INDEX REBALANCING, CALCULATION AND ADMINISTRATION:The Underlying Index is administered by MSCI Limited. The index is reviewed and rebalanced quarterly. The Underlying 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.

INVESTMENT POLICY:To achieve the aim, the fund will enter into financial contracts (derivatives) with one or more swap counterparties to swap most subscription proceeds for the return on the index. 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 2 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.