DBX ETF Trust

SCHEDULE OF INVESTMENTS

Xtrackers J.P. Morgan ESG Emerging Markets Sovereign ETF

February 29, 2024 (Unaudited)

 

                                         
     Principal Amount      Value  
SOVEREIGN BONDS - 98.1%      
Argentina - 2.1%      
Argentine Republic Government International Bond      

1.00%, 7/9/29

    $ 20,000      $ 9,288  
0.75% - 1.75%, 7/9/30(a)      65,000        30,019  
3.625% - 5.00%, 7/9/35(a)      115,000        42,909  
4.25% - 5.00%, 1/9/38(a)      78,000        32,711  
3.50% - 4.875%, 7/9/41(a)      56,000        20,132  
3.625% - 5.00%, 7/9/46(a)      16,000        6,235  
     

 

 

  
(Cost $190,501)         141,294  
     

 

 

  
Bahrain - 2.4%      

Bahrain Government International Bond, REGS, 6.00%, 9/19/44

      

(Cost $198,144)

      200,000        161,880  
     

 

 

  
Barbados - 0.2%      

Barbados Government International Bond, REGS, 6.50%, 10/1/29

      

(Cost $11,430)

      12,000        11,426  
     

 

 

  
Bolivia - 0.2%      

Bolivian Government International Bond, REGS, 4.50%, 3/20/28

      

(Cost $17,858)

      20,000        11,811  
     

 

 

  
Brazil - 4.0%      
Brazilian Government International Bond      

2.875%, 6/6/25

      30,000        29,011  
4.625%, 1/13/28      38,000        37,276  
4.50%, 5/30/29      38,000        36,024  
3.875%, 6/12/30      38,000        34,118  
3.75%, 9/12/31      23,000        20,030  
8.25%, 1/20/34      28,000        32,200  
7.125%, 1/20/37      19,000        20,294  
5.625%, 1/7/41      19,000        17,102  
5.00%, 1/27/45      27,000        21,567  
5.625%, 2/21/47      19,000        16,202  
4.75%, 1/14/50      7,000        5,185  
     

 

 

  
(Cost $297,929)         269,009  
     

 

 

  
Chile - 2.7%      
Chile Government International Bond      

3.125%, 1/21/26

      10,000        9,691  
2.55%, 7/27/33      38,000        30,796  
3.10%, 5/7/41      38,000        27,922  
4.34%, 3/7/42      57,000        49,414  
3.86%, 6/21/47      57,000        44,741  
3.10%, 1/22/61      30,000        18,850  
     

 

 

  
(Cost $225,571)         181,414  
     

 

 

  
China - 2.9%      

China Government International Bond, REGS, 3.50%, 10/19/28

      

(Cost $221,753)

      200,000        194,029  
     

 

 

  
Colombia - 3.9%      
Colombia Government International Bond      

8.125%, 5/21/24

      25,000        25,174  
3.875%, 4/25/27      30,000        28,231  
3.00%, 1/30/30      30,000        24,650  
3.25%, 4/22/32      44,000        34,021  
7.375%, 9/18/37      15,000        14,750  
6.125%, 1/18/41      30,000        25,633  
4.125%, 2/22/42      9,000        6,020  
5.625%, 2/26/44      30,000        23,581  
5.00%, 6/15/45      38,000        27,451  
5.20%, 5/15/49      34,000        24,818  
4.125%, 5/15/51      20,000        12,313  
8.75%, 11/14/53      5,000        5,363  
3.875%, 2/15/61      16,000        9,173  
     

 

 

  
(Cost $292,488)         261,178  
     

 

 

  
Costa Rica - 1.7%      

Costa Rica Government International Bond

      
REGS, 6.125%, 2/19/31      34,000        34,599  
REGS, 5.625%, 4/30/43      25,000        22,566  
REGS, 7.158%, 3/12/45      55,000        57,269  
     

 

 

  
(Cost $97,715)         114,434  
     

 

 

  
Dominican Republic - 3.7%      

Dominican Republic International Bond

      
REGS, 6.875%, 1/29/26      35,000        35,477  
REGS, 6.00%, 7/19/28      40,000        39,940  
REGS, 4.50%, 1/30/30      50,000        45,535  
REGS, 5.30%, 1/21/41      57,000        48,030  
REGS, 7.45%, 4/30/44      57,000        59,850  
REGS, 6.40%, 6/5/49      6,000        5,612  
REGS, 5.875%, 1/30/60      16,000        13,554  
     

 

 

  
(Cost $259,303)         247,998  
     

 

 

  
Ecuador - 1.4%      
Ecuador Government International Bond      

144A, 6.00% - 6.90%, 7/31/30(a)

      20,000        12,296  
144A, 3.50% - 6.90%, 7/31/35(a)      56,000        26,915  
REGS, 3.50% - 6.90%, 7/31/35(a)      45,000        21,628  
144A, 2.50% - 6.90%, 7/31/40(a)      44,000        19,402  
REGS, 2.50% - 6.90%, 7/31/40(a)      28,000        12,346  
     

 

 

  
(Cost $121,305)         92,587  
     

 

 

  

                                         
Egypt - 2.7%      

Egypt Government International Bond, REGS, 7.600%, 3/1/29

      

(Cost $200,646)

      200,000        182,032  
     

 

 

  
El Salvador - 1.0%      

El Salvador Government International Bond

      
REGS, 6.375%, 1/18/27      19,000        16,398  
REGS, 8.625%, 2/28/29      25,000        21,875  
REGS, 7.65%, 6/15/35      27,000        20,368  
REGS, 7.625%, 2/1/41      12,000        8,788  
REGS, 7.125%, 1/20/50      5,000        3,431  
     

 

 

  
(Cost $74,342)         70,860  
     

 

 

  
Gabon - 2.9%      

Gabon Government International Bond, REGS, 6.95%, 6/16/25

      

(Cost $186,393)

      200,000        193,364  
     

 

 

  
Ghana - 0.6%      

Ghana Government International Bond, REGS, 6.375%, 2/11/27*

      
(Cost $39,323)      100,000        43,688  
     

 

 

  
Guatemala - 1.1%      

Guatemala Government Bond, REGS, 4.90%, 6/1/30

      

(Cost $77,515)

      75,000        71,430  
     

 

 

  
Honduras - 0.1%      

Honduras Government International Bond

      
REGS, 6.25%, 1/19/27      5,000        4,810  
REGS, 5.625%, 6/24/30      5,000        4,386  
     

 

 

  
(Cost $8,764)         9,196  
     

 

 

  
Hungary - 3.0%      

Hungary Government International Bond, 7.625%, 3/29/41

      

(Cost $205,622)

      174,000        199,407  
     

 

 

  
Indonesia - 3.8%      

Indonesia Government International Bond

      
REGS, 4.75%, 1/8/26      60,000        59,812  
REGS, 7.75%, 1/17/38      100,000        122,957  
REGS, 6.75%, 1/15/44      40,000        46,512  
3.05%, 3/12/51      25,000        17,626  
4.45%, 4/15/70      15,000        12,521  
     

 

 

  
(Cost $282,507)         259,428  
     

 

 

  
Ivory Coast (Cote D’Ivoire) - 0.7%      

Ivory Coast Government International Bond, REGS, 5.75%, 12/31/32

      

(Cost $53,232)

      53,694        50,659  
     

 

 

  
Jamaica - 1.2%      
Jamaica Government International Bond      

6.75%, 4/28/28

      35,000        36,111  
7.875%, 7/28/45      40,000        46,521  
     

 

 

  
(Cost $82,379)         82,632  
     

 

 

  
Jordan - 2.9%      

Jordan Government International Bond, REGS, 5.75%, 1/31/27

      

(Cost $203,505)

      200,000        193,358  
     

 

 

  
Kuwait - 2.9%      

Kuwait International Government Bond, REGS, 3.50%, 3/20/27

      

(Cost $209,324)

      200,000        194,047  
     

 

 

  
Malaysia - 0.2%      

Malaysia Wakala Sukuk Bhd, REGS, 3.075%, 4/28/51

      

(Cost $12,938)

      17,000        12,592  
     

 

 

  
Mexico - 3.6%      
Mexico Government International Bond      

4.125%, 1/21/26

      8,000        7,856  
3.25%, 4/16/30      21,000        18,669  
MTN, 8.30%, 8/15/31      30,000        35,664  
Series A, MTN, 7.50%, 4/8/33      19,000        21,379  
Series A, MTN, 6.75%, 9/27/34      15,000        15,890  
6.05%, 1/11/40      30,000        29,538  
MTN, 4.75%, 3/8/44      34,000        28,134  
5.55%, 1/21/45      15,000        13,882  
4.60%, 1/23/46      25,000        20,039  
4.60%, 2/10/48      30,000        23,803  
6.338%, 5/4/53      10,000        9,785  
3.771%, 5/24/61      16,000        10,347  
5.75%, 10/12/10      10,000        8,629  
     

 

 

  
(Cost $291,688)         243,615  
     

 

 

  
Mongolia - 0.3%      

Mongolia Government International Bond, REGS, 5.125%, 4/7/26

      

(Cost $18,045)

      19,000        18,413  
     

 

 

  
Oman - 3.0%      

Oman Government International Bond, REGS, 5.625%, 1/17/28

      

(Cost $178,847)

      200,000        200,656  
     

 

 

  

                                         
Panama - 3.2%      
Panama Government International Bond      

3.875%, 3/17/28

      47,000        42,741  
9.375%, 4/1/29      10,000        11,101  
3.16%, 1/23/30      19,000        15,643  
6.40%, 2/14/35      23,000        21,275  
6.70%, 1/26/36      38,000        35,944  
4.50%, 4/16/50      8,000        5,235  
4.30%, 4/29/53      19,000        11,964  
4.50%, 4/1/56      47,000        29,886  
3.87%, 7/23/60      55,000        30,834  
4.50%, 1/19/63      19,000        11,827  
     

 

 

  
(Cost $316,878)         216,450  
     

 

 

  
Papua New Guinea - 0.1%      

Papua New Guinea Government International Bond, REGS, 8.375%, 10/4/28

      

(Cost $10,241)

      11,000        10,368  
     

 

 

  
Paraguay - 1.2%      

Paraguay Government International Bond

      
REGS, 4.70%, 3/27/27      30,000        29,114  
REGS, 5.60%, 3/13/48      20,000        17,776  
REGS, 5.40%, 3/30/50      37,000        31,956  
     

 

 

  
(Cost $78,981)         78,846  
     

 

 

  
Peru - 3.1%      
Peruvian Government International Bond      

4.125%, 8/25/27

      10,000        9,708  
2.783%, 1/23/31      41,000        34,937  
8.75%, 11/21/33      38,000        46,711  
3.00%, 1/15/34      38,000        31,017  
6.55%, 3/14/37      25,000        27,028  
3.30%, 3/11/41      28,000        20,823  
5.625%, 11/18/50      25,000        24,796  
2.78%, 12/1/60(b)      20,000        11,532  
     

 

 

  
(Cost $265,676)         206,552  
     

 

 

  
Philippines - 3.2%      
Philippine Government International Bond      

9.50%, 2/2/30

      61,000        74,877  
1.648%, 6/10/31      30,000        23,870  
3.95%, 1/20/40      19,000        16,338  
3.70%, 3/1/41      38,000        31,200  
3.70%, 2/2/42      57,000        46,455  
4.20%, 3/29/47      28,000        23,461  
     

 

 

  
(Cost $261,180)         216,201  
     

 

 

  
Poland - 3.0%      
Republic of Poland Government International Bond      

3.25%, 4/6/26

      54,000        52,608  
5.75%, 11/16/32      67,000        70,059  
4.875%, 10/4/33      27,000        26,553  
5.50%, 4/4/53      55,000        55,160  
     

 

 

  
(Cost $208,347)         204,380  
     

 

 

  
Qatar - 4.1%      
Qatar Government International Bond      

144A, 9.75%, 6/15/30

      160,000        205,450  
144A, 6.40%, 1/20/40      60,000        67,875  
     

 

 

  
(Cost $296,563)         273,325  
     

 

 

  
Romania - 4.0%      

Romanian Government International Bond

      
REGS, 6.625%, 2/17/28      30,000        30,945  
REGS, 5.875%, 1/30/29      40,000        39,767  
REGS, 3.00%, 2/14/31      20,000        16,730  
REGS, 3.625%, 3/27/32      20,000        16,975  
REGS, 7.125%, 1/17/33      36,000        38,034  
REGS, 6.00%, 5/25/34      20,000        19,587  
144A, 6.125%, 1/22/44      40,000        38,160  
REGS, 6.125%, 1/22/44      20,000        19,080  
REGS, 5.125%, 6/15/48      20,000        16,648  
REGS, 4.00%, 2/14/51      34,000        23,716  
REGS, 7.625%, 1/17/53      10,000        10,948  
     

 

 

  
(Cost $305,453)         270,590  
     

 

 

  
Saudi Arabia - 5.3%      

Saudi Government International Bond

      
REGS, 2.25%, 2/2/33      200,000        159,500  
REGS, 4.875%, 7/18/33      200,000        196,000  
     

 

 

  
(Cost $396,079)         355,500  
     

 

 

  
South Africa - 3.3%      
Republic of South Africa Government International Bond      

5.875%, 9/16/25

      50,000        50,010  
4.85%, 9/27/27      50,000        47,719  
4.30%, 10/12/28      35,000        31,609  
5.875%, 4/20/32      5,000        4,530  
5.65%, 9/27/47      10,000        7,322  
6.30%, 6/22/48      35,000        27,781  
5.75%, 9/30/49      60,000        43,912  
7.30%, 4/20/52      8,000        6,980  
     

 

 

  
(Cost $228,723)         219,863  
     

 

 

  
Sri Lanka - 0.9%      

Sri Lanka Government International Bond

      
REGS, 6.85%, 3/14/24*(c)      15,000        8,188  
REGS, 7.55%, 3/28/30*(c)      100,000        53,564  
     

 

 

  
(Cost $89,006)         61,752  
     

 

 

  
Trinidad and Tobago - 0.4%      

Trinidad & Tobago Government International Bond, REGS, 4.50%, 8/4/26

      

(Cost $28,575)

      28,000        27,164  
     

 

 

  
Turkey - 4.1%      
Turkiye Government International Bond      

7.375%, 2/5/25

      30,000        30,509  
4.75%, 1/26/26      26,000        25,366  
4.25%, 4/14/26      42,000        40,376  
4.875%, 10/9/26      38,000        36,718  

                                         
9.875%, 1/15/28      10,000        10,994  
5.125%, 2/17/28      10,000        9,458  
6.125%, 10/24/28      38,000        37,035  
5.25%, 3/13/30      10,000        9,001  
6.875%, 3/17/36      20,000        18,724  
6.00%, 1/14/41      10,000        8,163  
4.875%, 4/16/43      20,000        13,936  
6.625%, 2/17/45      24,000        20,470  
5.75%, 5/11/47      23,000        17,299  
     

 

 

  
(Cost $268,321)         278,049  
     

 

 

  
Ukraine - 0.9%      

Ukraine Government International Bond

      
REGS, 7.75%, 9/1/29*      150,000        42,850  
144A, 9.75%, 11/1/30*      60,000        18,042  
     

 

 

  
(Cost $162,141)         60,892  
     

 

 

  
United Arab Emirates - 2.5%      

Abu Dhabi Government International Bond, REGS, 4.125%, 10/11/47

      

(Cost $243,761)

      200,000        167,685  
     

 

 

  
Uruguay - 3.6%      
Uruguay Government International Bond      

4.375%, 10/27/27

      20,000        19,780  
4.375%, 1/23/31      46,000        44,850  
7.875%, 1/15/33      27,000        32,276  
7.625%, 3/21/36      20,000        24,075  
4.125%, 11/20/45      17,000        14,824  
5.10%, 6/18/50      63,000        60,543  
4.975%, 4/20/55      50,000        46,631  
     

 

 

  
(Cost $301,706)         242,979  
     

 

 

  
TOTAL SOVEREIGN BONDS      
(Cost $7,520,698)         6,603,033  
     

 

 

  
     Number of
Shares		         
SECURITIES LENDING COLLATERAL - 0.2%

 

   

DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.27%(d)(e)

      

(Cost $10,620)

      10,620        10,620  
     

 

 

  
CASH EQUIVALENTS - 0.5%      

DWS Government Money Market Series “Institutional Shares”, 5.28%(d)

      

(Cost $33,717)

      33,717        33,717  
     

 

 

  

TOTAL INVESTMENTS - 98.8%

(Cost $7,565,035)

         6,647,370  
Other assets and liabilities, net - 1.2%         80,412  
     

 

 

  
NET ASSETS - 100.0%         6,727,782  
     

 

 

  

For information on the Fund’s policies regarding the valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual or annual financial statements.

A summary of the Fund’s transactions with affiliated investments during the period ended February 29, 2024 is as follows:

 

Value ($) at
5/31/2023

  

Purchases
Cost ($)

  

Sales

Proceeds ($)

  

Net Realized
Gain/(Loss)

($)

  

Net Change in
Unrealized
Appreciation
(Depreciation)
($)

  

Income
($)

  

Capital Gain
Distributions
($)

  

Number of
Shares at
2/29/2024

  

Value ($) at
2/29/2024

SECURITIES LENDING COLLATERAL — 0.2%

DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 5.27%(d)(e)

—    10,620(f)   —    —    —    15   —    10,620   10,620

CASH EQUIVALENTS — 0.5%

DWS Government Money Market Series “Institutional Shares”, 5.28%(d)

29,514   609,530   (605,327)   —    —    1,677   —    33,717   33,717

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

29,514   620,150   (605,327)   —    —    1,692   —    44,337   44,337

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

 

*

Non-income producing security.

(a)

Security is a “step-up” bond where the coupon increases or steps-up at a predetermined date. The range of rates shown is the current coupon rate through the final coupon rate, date shown is the final maturity date.

(b)

All or a portion of these securities were on loan. In addition, “Other assets and liabilities, net” may include pending sales that are also on loan. The value of securities loaned at February 29, 2024 amounted to $10,297, which is 0.2% of net assets.

(c)

Defaulted security or security for which income has been deemed uncollectible.

(d)

Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end.

(e)

Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates.

(f)

Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended February 29, 2024.

 

MTN:

Medium Term Note

REGS:

Securities sold under Regulation S may not be offered, sold or delivered within the United States or to, or for the account or benefit of, U.S. persons, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933.

144A:

Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers.

Fair Value Measurements

Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.

The following is a summary of the inputs used as of February 29, 2024 in valuing the Fund’s investments.

 

Assets

    Level 1      Level 2      Level 3      Total  
Sovereign Bonds(a)    $ —       $ 6,603,033      $  —       $ 6,603,033  
Short-Term Investments(a)      44,337        —         —         44,337  
  

 

 

     

 

 

     

 

 

     

 

 

  
TOTAL    $ 44,337      $ 6,603,033      $ —       $ 6,647,370  
  

 

 

     

 

 

     

 

 

     

 

 

  

 

(a)

See Schedule of Investments for additional detailed categorizations.

OBTAIN A FUND PROSPECTUS

To obtain a summary prospectus, or prospectus, download one from www.Xtrackers.com, talk to your financial representative or call (855) 329-3837. Investing involves risk, including the possible loss of principal. We advise you to carefully consider the product’s objectives, risks, charges and expenses before investing. The summary prospectus and prospectus contain this and other important information about the investment product. Please read the prospectus carefully before you invest. Xtrackers ETFs (“ETFs”) are managed by DBX Advisors LLC (the “Adviser”), and distributed by ALPS Distributors, Inc. (“ALPS”). The Adviser is a subsidiary of DWS Group GmbH & Co. KGaA, and is not affiliated with ALPS. Shares are not individually redeemable, and owners of Shares may acquire those Shares from the Fund, or tender such Shares for redemption to the Fund, in Creation Units only.

The brand DWS represents DWS Group GmbH & Co. KGaA and any of its subsidiaries such as DWS Distributors, Inc. which offers investment products or DWS Investment Management Americas Inc. and RREEF America L.L.C. which offer advisory services.

NO BANK GUARANTEE | NOT FDIC INSURED | MAY LOSE VALUE

ESEB-PH3

R-089711-1 (5/24) DBX005195 (5/24)