Fund Description: Xtrackers MSCI All World ex US High Dividend Yield Equity ETF, formerly Deutsche X-trackers MSCI All World ex US High Dividend Yield Hedged Equity ETF 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 Xtrackers MSCI All World ex US High Dividend Yield Equity ETF seeks investment results that correspond generally to the performance, before fees and expenses, of the MSCI ACWI ex USA High Dividend Yield Index, formerly MSCI ACWI ex USA High Dividend Yield US Dollar Hedged Index. INDEX DESCRIPTION: The MSCI ACWI ex USA High Dividend Yield Index is based on MSCI ACWI ex USA, its parent index, and includes large and mid cap stocks across 46 Developed Markets (DM) and Emerging Markets (EM) countries. The index is designed to reflect the performance of equities in the parent index (excluding REITs) with higher dividend income and quality characteristics than average dividend yields that are both sustainable and persistent. The index also applies quality screens and reviews 12-month past performance to omit stocks with potentially deteriorating fundamentals that could force them to cut or reduce dividends. FUND STRATEGY: The Fund, using a passive or indexing investment approach, attempts to approximate the investment performance of the Index. The Fund uses a representative sampling indexing strategy in seeking to track the Index, meaning it generally will invest in a sample of securities in the index whose risk, return and other characteristics resemble the risk, return and other characteristics of the Index as a whole. 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 enters into forward currency contracts designed to offset the Fund’s exposure to foreign currencies. The Fund hedges each foreign currency in the portfolio to U.S. dollars by selling the applicable foreign currency forward at the one-month forward rate published by WM/Reuters. 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 based on currency weights as of the beginning of each month. 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 equity securities of issuers from countries other than the United States and in instruments designed to hedge against the Fund’s exposure to non-U.S. currencies. FUND MANAGEMENT: DBX Advisors, LLC serves as the Investment Adviser to the Fund. TDAM USA, Inc. serves as the Sub-Adviser to the Fund.