Xtrackers S&P 500 Swap II UCITS ETF 1D USD

The fund is passively managed. INVESTMENT OBJECTIVE: The aim is for your investment to track the performance, before fees and expenses, of the S&P 500 Index (index) which is designed to reflect the performance of shares of 500 companies representing all major US industries. DESCRIPTION OF INDEX: The index contains shares of large companies traded on certain eligible US exchanges. A company’s weighting in the index depends on its relative size based on the combined value of a company’s readily available shares as compared to other companies on the stock markets. INDEX REBALANCING, CALCULATION AND ADMINISTRATION: The index is administered by Standard & Poor's. The index is calculated on a total return net basis which means that all dividends and distributions by the companies are reinvested in the shares after tax. The index is reviewed and rebalanced on a quarterly basis, and may also be rebalanced at other times in order to reflect corporate activity such as mergers and acquisitions. INVESTMENT POLICY: To achieve the aim, the fund will invest in transferable securities and enter into financial contracts (derivatives) with one or more counterparties relating to the transferable securities and the net or gross total return version of the index (swap index), in order to obtain the return on the swap index. The gross total return version of the index calculates the performance of the stocks assuming that all dividends and distributions are reinvested on a gross basis. The swap index shall be selected in the absolute discretion of the Investment Manager. FURTHER INFORMATION: Certain information (including the latest share prices of the fund, indicative net asset values, full disclosure on the composition of the fund's portfolio and information on the index constituents) are available on your local DWS website or at www.Xtrackers.com. Transaction costs and taxes, unexpected fund costs and market conditions such as volatility or liquidity issues may affect the ability of the fund to track the index. The anticipated level of tracking error in normal market conditions is 1 per cent. The currency of the fund is USD. The fund distributes up to four times per annum. You may request the redemption of shares generally on a daily basis.