Fund Description: Deutsche X-trackers MSCI Emerging Markets Hedged Equity ETF, formerly db X-trackers MSCI Emerging Markets Hedged Equity Fund, formerly db-X MSCI Emerging Markets Currency-Hedged Equity Fund, is an exchange-traded index fund or index ETF which is a separate portfolio of the DBX ETF Trust, an open-end investment management company. INVESTMENT OBJECTIVE: The Deutsche X-trackers MSCI Emerging Markets Hedged Equity ETF seeks investment results that correspond generally to the performance, before fees and expenses, of the MSCI EM US Dollar Hedged Index. INDEX DESCRIPTION: The MSCI EM US Dollar Hedged Index is designed to provide exposure to equity securities in the global emerging markets, while at the same time mitigating exposure to fluctuations between the value of the U.S. dollar and selected emerging market currencies. The Index includes securities from the following 21 countries, which is subject to change over time: Brazil, Chile, China, Colombia, Czech Republic, Egypt, Hungary, India, Indonesia, South Korea, Malaysia, Mexico, Morocco, Peru, Philippines, Poland, Russia, South Africa, Taiwan, Thailand and Turkey. The Index hedges each foreign currency in the Index to U.S. dollars by selling the applicable foreign currency forward at the one-month forward rate published by WM/Reuters. For U.S. investors, international equity investments include two components of return. The first is the return attributable to stock prices in the non-U.S. market or markets in which an investment is made. The second is the return attributable to the value of non-U.S. currencies in these markets relative to the U.S. dollar. The Index and the Fund seek to track the performance of equity securities in these emerging markets that is attributable solely to stock prices. FUND STRATEGY: The Fund, using a passive or indexing investment approach, attempts to approximate the investment performance of the Index. Representative sampling is an indexing strategy that is used which involves investing in a representative sample of securities that collectively has an investment profile similar to the Index. The securities selected are expected to have, in the aggregate, investment characteristics, (based on factors such as market capitalization and industry weightings), fundamental characteristics (such as return variability and yield) and liquidity measures similar to those of the Index. The Fund may or may not hold all of the securities in the Index. The Fund intends to enter into forward currency contracts designed to offset the Fund’s exposure to non-U.S. currencies. A forward currency contract is a contract between two parties to buy or sell a specific currency in the future at an agreed-upon rate. The amount of forward contracts in the Fund is based on the aggregate exposure of the Fund and Index to each non-U.S. currency. While this approach is designed to minimize the impact of currency fluctuations on Fund returns, this does not necessarily eliminate exposure to all currency fluctuations. The return of the forward currency contracts may not perfectly offset the actual fluctuations of non-U.S. currencies relative to the U.S. dollar. The Fund will normally invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the equity securities of issuers from emerging markets countries and in instruments designed to hedge against the Fund’s exposure to non-U.S. currencies. In addition, the Fund will invest at least 80% of its total assets in instruments that comprise the Index. The Fund may also invest in depositary receipts in respect of equity securities that comprise the Index to seek performance that corresponds to the Index. Investments in such depositary receipts will count towards the 80% investment policy with respect to instruments that comprise the Index. The Fund will concentrate its investments (i.e., hold 25% or more of its total assets) in a particular industry or group of industries to the extent that its Index is concentrated. FUND MANAGEMENT: The Adviser, DBX Advisors LLC, has overall responsibility for the general management and administration of the Trust and oversight of the Sub-Adviser. TDAM USA Inc. serves as the Sub-Advisor and is responsible for the investment management of the Fund.