NEW YORK--(BUSINESS WIRE)--DWS Group today announced plans to close and liquidate five Xtrackers exchange-traded funds (ETFs):
- Xtrackers MSCI South Korea Hedged Equity ETF (DBKO)
- Xtrackers Russell 2000 Comprehensive Factor ETF (DESC)
- Xtrackers FTSE Emerging Comprehensive Factor ETF (DEMG)
- Xtrackers Barclays International Treasury Bond Hedged ETF (IGVT)
- Xtrackers Barclays International Corporate Bond Hedged ETF (IFIX)
The five funds represent 0.23% of Xtrackers U.S. assets under management as of October 18, 2019.
The firm plans to close and liquidate these funds following a regular and ongoing process to review and evolve the Xtrackers product lineup to ensure the business continues to meet clients’ needs. The last day of trading is expected to be November 12, 2019. Creations will be accepted until that time. Proceeds of the liquidations are scheduled to be sent to shareholders on or about November 21, 2019.
When each ETF commences liquidation of its portfolio securities, each ETF may hold cash and securities that may not be consistent with the ETF’s investment objective and strategy. During this period, each ETF is likely to incur higher tracking error than is typical for the ETF.
Shareholders may sell their holdings of an ETF on the applicable stock exchange until the market close on November 12, 2019, and may incur typical transaction fees from their broker-dealer. At the time the liquidation of the ETFs is complete, shares of the ETFs will be individually redeemed. For investors that still hold shares as of November 21, 2019, each ETF will automatically redeem its shares for cash at the ETF’s current net asset value as of close of business on that date. Shareholders generally will recognize a capital gain or loss on the redemptions. The ETFs may or may not, depending upon each ETF’s circumstances, pay one or more dividends or other distributions prior to or along with the redemption payments.
For more information about DWS’s ETFs available in the U.S., visit: www.Xtrackers.com.
DWS Group (DWS) is one of the world's leading asset managers with USD 816 billion of assets under management (as of 30 June 2019). Building on more than 60 years of experience and a reputation for excellence in Germany and across Europe, DWS aims to be recognized by clients globally as a trusted source for integrated investment solutions, stability and innovation across a full spectrum of investment disciplines.
We offer individuals and institutions access to our strong investment capabilities across all major asset classes and solutions aligned to growth trends. Our diverse expertise in Active, Passive and Alternatives asset management – as well as our deep environmental, social and governance focus – complement each other when creating targeted solutions for our clients. Our expertise and on-the-ground-knowledge of our economists, research analysts and investment professionals are brought together in one consistent global CIO View, which guides our strategic investment approach.
DWS wants to innovate and shape the future of investing: with approximately 3,600 employees in offices all over the world, we are local while being one global team.
ETF shares are not individually redeemable, and owners of shares may acquire those shares from the Fund, or tender such shares for the redemption to the Fund, in Creation Units only.
Consider each Fund’s investment objectives, risk factors, and charges and expenses before investing. This and other important information can be found in the Fund’s prospectus, which may be obtained by calling 1-855-DBX-ETFS (1-855-329-3837) or by viewing or downloading a prospectus at www.Xtrackers.com. Please read it carefully before investing.
Xtrackers ETFs are managed by DBX Advisors LLC (the Advisor), and distributed by ALPS Distributors, Inc. (ALPS). The Advisor is a wholly owned subsidiary of DWS Group GmbH & Co. KGaA, and is not affiliated with ALPS.
Risk information: Investing involves risk, including possible loss of principal. Stocks may decline in value. Bond investments are subject to interest-rate, credit, liquidity and market risks to varying degrees. When interest rates rise, bond prices generally fall. Foreign investing involves greater and different risks than investing in US companies, including currency fluctuations, less liquidity, less developed or less efficient trading markets, lack of comprehensive company information, political instability and differing auditing and legal standards. Emerging markets tend to be more volatile and less liquid than the markets of more mature economies, and generally have less diverse and less mature economic structures and less stable political systems than those of developed countries. Funds investing in a single industry, country or in a limited geographic region generally are more volatile than more diversified funds. Performance of a fund may diverge from that of an underlying index due to operating expenses, transaction costs, cash flows, use of sampling strategies or operational inefficiencies. There are additional risks associated with investing in high-yield bonds, aggressive growth stocks, non-diversified/concentrated funds and small- and mid-cap stocks which are more fully explained in the prospectuses, as applicable. An investment in any fund should be considered only as a supplement to a complete investment program for those investors willing to accept the risks associated with that fund. Please read the applicable prospectus for more information.
Indexes are unmanaged and you cannot invest directly in an index. Shares are not individually redeemable, and owners of Shares may acquire those Shares from the index, or tender such Shares for redemption to the index, in Creation Units only.
No bank guarantee | Not FDIC insured | May lose value
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