Fund Description: Deutsche X-trackers Investment Grade Bond - Interest Rate Hedged 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 Deutsche X-trackers Investment Grade Bond - Interest Rate Hedged ETF seeks investment results that correspond generally to the performance, before fees and expenses, of the DBIQ Investment Grade Bond - Interest Rate Hedged Index. INDEX DESCRIPTION: The DBIQ Investment Grade Bond - Interest Rate Hedged Index is comprised of (a) long positions in U.S. dollar-denominated investment-grade corporate bonds and (b) short positions in U.S. Treasury notes or bonds (Treasury Securities) of, in aggregate, approximate equivalent duration to the investment-grade corporate bonds. By taking these short positions, the Index seeks to mitigate the potential negative impact of rising Treasury interest rates on the performance of investment grade bonds (conversely limiting the potential positive impact of falling interest rates). The short positions are not intended to mitigate other factors influencing the price of investment grade bonds, such as credit risk, which may have a greater impact than rising or falling interest rates. Currently, the bonds eligible for inclusion in the Index include U.S. dollar-denominated corporate bonds that: (i) are issued by companies domiciled in countries classified as developed markets by DBIQ, the index provider; (ii) rated as investment-grade by at least one of these two rating agencies: Moody’s and S&P's; (iii) are from issuers with at least $2 billion outstanding face value; (iv) have at least $750 million of outstanding face value; and (v) have at least three years to maturity. The Index is reconstituted and rebalanced (including a reset of the interest rate hedge) on a monthly basis. FUND STRATEGY: The Fund, using a passive or indexing investment approach, attempts to track the performance of the Index. Relative to a long-only investment in the same investment grade bonds, the Index, and thus the Fund, should outperform in a rising interest rate environment and underperform in a falling or static interest rate environment. In addition, the performance of the Index, and by extension the Fund, depends on many factors beyond rising or falling interest rates, such as the perceived level of credit risk in the investment grade bond positions. These factors may be as or more important to the performance of the Index, and thus the Fund, than the impact of interest rates. As such, there is no guarantee that the Index, and accordingly, the Fund, will have positive performance even in environments of sharply rising interest rates. The Index, and thus the Fund, may be more volatile than a long-only position in the same investment grade bonds. The Fund primarily invests in derivatives as a substitute for obtaining short exposure in Treasury Securities. These derivatives principally include futures contracts to obtain short exposure to Treasury Securities. 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 Fund will normally invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in investment grade corporate bonds. In addition, the Fund will invest at least 80% of its total assets, but typically far more, in instruments that comprise the Index. FUND MANAGEMENT: DBX Advisors LLC. serves as Investment Adviser to the Fund. TDAM USA, Inc. serves as Sub-adviser to the Fund.