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Name

As of 11/19/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Xtrackers Municipal Infrastructure Revenue Bond ETF

RVNU | ETF

$25.77

$124 M

3.14%

$0.81

0.15%

Vitals

YTD Return

2.9%

1 yr return

9.2%

3 Yr Avg Return

-1.4%

5 Yr Avg Return

1.0%

Net Assets

$124 M

Holdings in Top 10

13.0%

52 WEEK LOW AND HIGH

$25.7
$24.39
$26.16

Expenses

OPERATING FEES

Expense Ratio 0.15%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 10.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 11/19/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Xtrackers Municipal Infrastructure Revenue Bond ETF

RVNU | ETF

$25.77

$124 M

3.14%

$0.81

0.15%

RVNU - Profile

Distributions

  • YTD Total Return 2.9%
  • 3 Yr Annualized Total Return -1.4%
  • 5 Yr Annualized Total Return 1.0%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.42%
DIVIDENDS
  • Dividend Yield 3.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Xtrackers Municipal Infrastructure Revenue Bond ETF
  • Fund Family Name
    XTRACKERS
  • Inception Date
    Jun 04, 2013
  • Shares Outstanding
    6250001
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Brandon Matsui

Fund Description

The fund, using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the Solactive Municipal Infrastructure Revenue Bond Index (the “Underlying Index”), which is designed to track the performance of the US long-term tax exempt bond market, consisting of infrastructure revenue bonds. The fund uses a representative sampling indexing strategy in seeking to track the Underlying Index, meaning that it will generally invest in a sample of securities in the index whose risk, return and other characteristics resemble the risk, return and other characteristics of the Underlying Index as a whole. The fund will invest at least 80% of its total assets (but typically far more) in instruments that comprise the Underlying Index.The Underlying Index is comprised of tax-exempt municipal securities issued by states, cities, counties, districts, their respective agencies, and other tax-exempt issuers. The Underlying Index is intended to track bonds that have been issued with the intention of funding federal, state and local infrastructure projects, such as water and sewer systems, public sewer systems, toll roads, bridges, tunnels and many other public use projects.As of July 31, 2024, the Underlying Index consisted of 791 securities (171 issuers) with an average amount outstanding of approximately $92 million and a minimum amount outstanding of approximately $40 million. The Underlying Index is a total return index, which assumes that any cash distributions are reinvested back into the Underlying Index.The Underlying Index is designed to only hold those bonds issued by state and local municipalities where the interest and principal repayments are generated from dedicated revenue streams or double-barreled entities (whose bonds are backed by both a dedicated revenue stream and a general obligation pledge).The Underlying Index may include private activity bonds, industrial development bonds, special tax bonds and transportation bonds.Private activity bonds are issued by municipalities and other public authorities to finance development of industrial facilities for use by a private enterprise. The private enterprise pays the principal and interest on the bond, and the issuer does not pledge its full faith, credit and taxing power for repayment.Industrial development bonds are a specific type of revenue bond backed by the credit and security of a private user and therefore have more potential risk. The interest from industrial development bonds, when distributed by the fund as “exempt-interest dividends” to shareholders, may be subject to the US federal alternative minimum tax applicable to individuals (“AMT”).Special tax bonds are payable for and secured by the revenues derived by a municipality from a particular tax (e.g., tax on the rental of a hotel room, on the purchase of food and beverages, on the rental of automobiles or on the consumption of liquor). Special tax bonds are not secured by the general tax revenues of the municipality, and they do not represent general obligations of the municipality.Transportation bonds are obligations of issuers that own and operate public transit systems, ports, highways, turnpikes, bridges and other transportation systems.In order to be eligible for inclusion in the Underlying Index, the municipal securities must be offered publicly; meet a minimum amount outstanding and deal amount; be investment-grade; have a fixed-rate coupon payment; and are not prefunded/escrowed to maturity. Municipal bonds which are subject to the AMT and state and local taxes are eligible for inclusion in the Underlying Index. The Underlying Index does not attempt to achieve a particular duration (which is a measure of a bond’s sensitivity to interest rates), but the Underlying Index limits eligibility for inclusion to municipal securities which have a stated final maturity of 10 years or longer and are not callable for at least the next 5 years. Under normal circumstances, the Underlying Index is reconstituted and rebalanced on a monthly basis. The fund changes its portfolio in accordance with the Underlying Index, and, therefore, any changes to the Underlying Index’s reconstitution and rebalancing schedule will result in corresponding changes to the fund’s schedule of portfolio changes. Any changes made to the Underlying Index in between scheduled reconstitutions and rebalancings (e.g., in the event of a corporate action) also will result in corresponding changes to the fund’s portfolio.Under normal circumstances, the fund invests at least 80% of net assets, plus the amount of any borrowings for investment purposes, in securities issued by municipalities across the United States and its territories which are classified as “municipal infrastructure revenue” bonds based on the Underlying Index’s criteria summarized above, whose income is free from regular federal income tax. Because municipal securities that pay interest subject to the AMT may be included in the Underlying Index without limit, the fund may invest an unlimited amount of its net assets in municipal securities whose income is subject to the AMT. In addition, the fund will invest at least 80% of its total assets (but typically far more) in instruments that comprise the Underlying Index.As of July 31, 2024, a significant percentage of the Underlying Index was comprised of municipal securities of issuers in New York and California.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 Underlying Index is concentrated. The fund’s exposure to particular sectors may change over time to correspond to changes in the Underlying Index.The Underlying Index is sponsored by Solactive AG (“Solactive” or “Index Provider”),which is independent of the fund and the Advisor. The Index Provider develops the Underlying Index methodology and determines the composition and relative weightings of the securities in the Underlying Index and publishes information regarding the market value of the Underlying Index. The fund is not sponsored, endorsed, sold or promoted by Solactive.
Read More

RVNU - Performance

Return Ranking - Trailing

Period RVNU Return Category Return Low Category Return High Rank in Category (%)
YTD 2.9% -4.6% 31.4% 25.45%
1 Yr 9.2% -0.1% 37.6% 7.59%
3 Yr -1.4%* -10.7% 3.3% 84.81%
5 Yr 1.0%* -6.7% 1104.0% 39.57%
10 Yr 2.8%* -0.9% 248.8% 6.70%

* Annualized

Return Ranking - Calendar

Period RVNU Return Category Return Low Category Return High Rank in Category (%)
2023 8.0% -1.4% 41.0% 0.27%
2022 -18.8% -39.7% 0.3% 94.92%
2021 0.1% -5.6% 6.9% 27.08%
2020 3.9% -2.6% 310.0% 3.06%
2019 7.1% 0.0% 26.0% 2.57%

Total Return Ranking - Trailing

Period RVNU Return Category Return Low Category Return High Rank in Category (%)
YTD 2.9% -4.6% 31.4% 25.45%
1 Yr 9.2% -0.1% 37.6% 7.59%
3 Yr -1.4%* -10.7% 3.3% 84.81%
5 Yr 1.0%* -6.7% 1104.0% 39.57%
10 Yr 2.8%* -0.9% 248.8% 6.70%

* Annualized

Total Return Ranking - Calendar

Period RVNU Return Category Return Low Category Return High Rank in Category (%)
2023 11.2% -1.3% 41.0% 0.47%
2022 -16.6% -39.7% 1.1% 95.05%
2021 2.3% -4.8% 23761504.0% 30.97%
2020 6.5% -1.5% 17057.9% 4.17%
2019 10.2% 0.2% 3514.6% 2.43%

RVNU - Holdings

Concentration Analysis

RVNU Category Low Category High RVNU % Rank
Net Assets 124 M 3.22 M 71.9 B 82.67%
Number of Holdings 337 4 13418 36.38%
Net Assets in Top 10 17.9 M -317 M 3.09 B 89.81%
Weighting of Top 10 13.03% 1.8% 100.3% 71.67%

Top 10 Holdings

  1. Salt River Project Agricultural Improvement Power District 2.15%
  2. New York Transportation Development Corp 1.59%
  3. Triborough Bridge Tunnel Authority 1.55%
  4. Pennsylvania Turnpike Commission 1.32%
  5. New York Transportation Development Corp 1.14%
  6. Southern California Public Power Authority 1.14%
  7. Triborough Bridge Tunnel Authority Sales Tax Revenue 1.11%
  8. San Diego County Regional Airport Authority 1.02%
  9. New York Transportation Development Corp 1.01%
  10. JEA Water Sewer System Revenue 1.01%

Asset Allocation

Weighting Return Low Return High RVNU % Rank
Bonds 		98.43% 0.00% 150.86% 61.85%
Cash 		1.57% -50.86% 44.62% 37.24%
Stocks 		0.00% 0.00% 99.78% 80.09%
Preferred Stocks 		0.00% 0.00% 0.07% 77.55%
Other 		0.00% -3.69% 51.88% 76.42%
Convertible Bonds 		0.00% 0.00% 0.93% 77.19%

Bond Sector Breakdown

Weighting Return Low Return High RVNU % Rank
Municipal 		98.61% 44.39% 100.00% 47.22%
Derivative 		0.00% -3.69% 51.88% 89.47%
Cash & Equivalents 		0.00% 0.00% 44.41% 89.81%
Securitized 		0.00% 0.00% 5.93% 77.93%
Corporate 		0.00% 0.00% 9.41% 79.87%
Government 		0.00% 0.00% 52.02% 79.93%

Bond Geographic Breakdown

Weighting Return Low Return High RVNU % Rank
US 		98.43% 0.00% 142.23% 59.49%
Non US 		0.00% 0.00% 23.89% 78.41%

RVNU - Expenses

Operational Fees

RVNU Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.15% 0.01% 8.02% 98.40%
Management Fee 0.15% 0.00% 1.20% 3.53%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

RVNU Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 4.75% N/A
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

RVNU Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

RVNU Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 10.00% 0.00% 283.00% 22.66%

RVNU - Distributions

Dividend Yield Analysis

RVNU Category Low Category High RVNU % Rank
Dividend Yield 3.14% 0.00% 14.51% 34.15%

Dividend Distribution Analysis

RVNU Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

RVNU Category Low Category High RVNU % Rank
Net Income Ratio 2.42% -0.53% 5.33% 22.99%

Capital Gain Distribution Analysis

RVNU Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

RVNU - Fund Manager Analysis

Managers

Brandon Matsui

Start Date

Tenure

Tenure Rank

May 15, 2017

5.05

5.1%

■ Joined DWS Group GmbH & Co. KGaA in 2011 with 12 years of industry experience. ■ Fixed Income Portfolio Manager, Passive Asset Management: New York. Mr. Matsui is a Director with Deutsche Asset Management and has served as a Portfolio Manager in the Passive Asset Management business since 2016. Prior to joining the Passive Asset Management business, Mr. Matsui served as a Managing Director and Portfolio Manager for Charles Schwab Investment Management, Inc. (CSIM) where he was responsible for the day-to-day co-management of Schwab’s taxable bond funds and the Schwab Fixed-Income ETFs. Before joining CSIM in 2010, Mr. Matsui was an associate Portfolio Manager on the Beta Management team at BNY Mellon and an analyst in the portfolio analytics group at BlackRock Solutions. Mr. Matsui earned an MBA from the University of Hawaii, with an emphasis in Finance and a minor in Japanese. He is a CFA Charterholder and has earned the Financial Risk Manager (FRM) certification. ■ BS in History, University of California, Irvine

Bryan Richards

Start Date

Tenure

Tenure Rank

May 15, 2017

5.05

5.1%

■ Joined DWS Group GmbH & Co. KGaA in 2011 with 11 years of industry experience. ■ Head of Passive Portfolio Management, Americas: New York. Bryan Richards is a Director with Deutsche Asset and Wealth Management and has served as a Portfolio Manager in the Passive Asset Management business since 2011. Mr. Richards began his career as an equity analyst at Fairhaven Capital LLC in Boston supporting two Portfolio Managers in a long-short equity strategy. Mr. Richards joined XShares Advisors, an ETF issuer, as a Vice President in 2007, providing analysis on index and fund construction as well as fund operations and performance before being promoted to Director of Fund Operations in 2009. Mr. Richards holds a BS Degree in Finance from Boston College and is a CFA Charterholder.

Alexander Bridgeforth

Start Date

Tenure

Tenure Rank

May 15, 2017

5.05

5.1%

Mr. Bridgeforth joined DWS in 2016. Mr. Bridgeforth is an Assistant Vice President with Deutsche Asset Management and has served as a Portfolio Manager in the Passive Asset Management business since 2016. Prior to his current role, Mr. Bridgeforth was an Associate Portfolio Manager for Charles Schwab Investment Management, Inc. (CSIM) where he co-managed Schwab’s taxable bond funds and the Schwab Fixed-Income ETFs. Prior to his Portfolio Manager role, Mr. Bridgeforth served as an Associate Trading Assistant in fixed income with CSIM. Mr. Bridgeforth earned a Bachelor of Science in Finance from the University of Arizona and has passed the first level of the CFA program.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.35 1.58

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