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Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

DWS Global Macro Fund

DBIWX | Fund

$9.72

$225 M

1.99%

$0.19

0.83%

Vitals

YTD Return

3.5%

1 yr return

-7.7%

3 Yr Avg Return

-1.0%

5 Yr Avg Return

N/A

Net Assets

$225 M

Holdings in Top 10

26.1%

52 WEEK LOW AND HIGH

$9.8
$9.21
$10.53

Expenses

OPERATING FEES

Expense Ratio 0.83%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 43.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

DWS Global Macro Fund

DBIWX | Fund

$9.72

$225 M

1.99%

$0.19

0.83%

DBIWX - Profile

Distributions

  • YTD Total Return 3.5%
  • 3 Yr Annualized Total Return -1.0%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.29%
DIVIDENDS
  • Dividend Yield 2.0%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    DWS Global Macro Fund
  • Fund Family Name
    DWS
  • Inception Date
    Jul 01, 2019
  • Shares Outstanding
    N/A
  • Share Class
    Retirement
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Henning Potstada

Fund Description

Main investments. The fund invests in equities (common and preferred), bonds, structured notes, money market instruments, exchange-traded funds (ETFs), and cash. There are generally no limits on asset class exposures, provided that risk parameters are met. The fund may also invest in alternative asset classes (such as real estate, REITs, infrastructure, convertibles, commodities and currencies). The fund may achieve exposure to commodities by investing in commodities-linked derivatives. In addition, the fund may invest in ETFs, other registered investment companies or exchange-traded notes (ETNs) to gain exposure to certain asset classes, including commodities. The fund’s allocation to different global markets and to different investment instruments will vary depending on the overall economic cycle and assessment by portfolio management. The fund may also invest in asset backed securities, short-term securities and cash equivalents.The fund can invest in securities of any size, investment style category, maturity, duration or credit quality (including junk bonds, which are those rated below the fourth highest credit rating category (that is, grade BB/Ba and below)), and from any country (including emerging markets). Under normal conditions, the fund will have investment exposure to at least three countries and combined direct and indirect exposure to foreign securities, foreign currencies and other foreign investments (measured on a gross basis) equal to at least 40% of the fund’s net assets. For purposes of the foregoing policy, an investment is considered to be an investment in a foreign security or foreign investment if the issuer is organized or located outside the US or is doing a substantial amount of business outside of the US. An issuer that derives at least 50% of its revenue from business outside the US or has at least 50% of its assets outside the US will be considered to be doing a substantial amount of business outside the US.Management process. Portfolio management constructs the fund’s portfolio using a combination of top-down macro views and bottom-up research along with risk management strategies. Based on the top-down macro views, the portfolio management team outlines a strategic allocation among asset classes for the portfolio which is a reflection of the team's broad market view. The portfolio management team further takes into consideration news flows, market sentiment and technical factors and then decides on a targeted level of risk. Idea generation, allocation by regions and sectors as well as position sizing are important features of the strategic allocation process during which exposures to different asset classes are determined. Selection of investments is then made using bottom-up fundamental analysis. The portfolio management team evaluates the strategic allocations and fund investments on an ongoing basis from a risk/return perspective.Currencies are considered an asset class in their own right by portfolio management and form an integral part of the strategic allocation and the investment selection process. Currencies are actively managed and portfolio management attempts to hedge against undesired currency risk. Portfolio management views currency as an important additional source of alpha-generation. Active currency positions may be taken across developed and emerging market currencies to exploit under- and/or over-valued currencies and to benefit from currency fluctuations. Portfolio management also views currency management as a beneficial source of risk diversification. Completely or partially applied currency hedges may also impact overall fund performance.Portfolio management may consider information about Environmental, Social and Governance (ESG) issues in its fundamental research process and when making investment decisions.Derivatives. Portfolio management takes active currency positions using derivatives (contracts whose value are based on, for example, indices, currencies or securities) such as forward currency contracts, structured notes, futures contracts (including equity index futures) or options contracts. Portfolio management may also generally use forward currency contracts to hedge the fund’s exposure to changes in foreign currency exchange rates on its foreign currency denominated portfolio holdings or to facilitate transactions in foreign currency denominated securities.In addition, portfolio management generally may use futures or options contracts as a substitute for direct investment in a particular asset class, for duration management, for hedging purposes or to keep cash on hand to meet shareholder redemptions. Commodities-linked derivatives may also be used to achieve exposure to commodities.The fund may also use other types of derivatives (i) for hedging purposes; (ii) for risk management; (iii) for non-hedging purposes to seek to enhance potential gains; or (iv) as a substitute for direct investment in a particular asset class or to keep cash on hand to meet shareholder redemptions.Securities lending. The fund may lend securities (up to one-third of total assets) to approved institutions, such as registered broker-dealers, banks and pooled investment vehicles.Active trading. The fund may trade securities actively and this may lead to high portfolio turnover.
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DBIWX - Performance

Return Ranking - Trailing

Period DBIWX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.5% -23.1% 19.0% 48.03%
1 Yr -7.7% -41.7% 6.2% 26.48%
3 Yr -1.0%* -19.7% 16.5% 24.47%
5 Yr N/A* -13.3% 12.6% 71.43%
10 Yr N/A* -8.7% 4.3% 16.78%

* Annualized

Return Ranking - Calendar

Period DBIWX Return Category Return Low Category Return High Rank in Category (%)
2022 -11.1% -48.5% 15.7% 22.40%
2021 2.6% -10.0% 21.8% 43.62%
2020 0.4% -5.8% 15.2% 79.57%
2019 N/A -7.6% 6.4% N/A
2018 N/A -6.8% 8.1% N/A

Total Return Ranking - Trailing

Period DBIWX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.5% -29.8% 19.0% 48.03%
1 Yr -7.7% -41.7% 6.2% 26.48%
3 Yr -1.0%* -19.7% 16.5% 24.47%
5 Yr N/A* -13.3% 12.6% 69.12%
10 Yr N/A* -8.7% 6.6% 16.11%

* Annualized

Total Return Ranking - Calendar

Period DBIWX Return Category Return Low Category Return High Rank in Category (%)
2022 -11.1% -48.5% 15.7% 22.40%
2021 2.6% -10.0% 21.8% 43.21%
2020 0.4% -5.8% 15.2% 79.57%
2019 N/A -6.8% 6.4% N/A
2018 N/A -6.8% 11.4% N/A

NAV & Total Return History


DBIWX - Holdings

Concentration Analysis

DBIWX Category Low Category High DBIWX % Rank
Net Assets 225 M 643 K 15.7 B 46.74%
Number of Holdings 96 2 3255 30.77%
Net Assets in Top 10 55.6 M 349 K 12.1 B 63.85%
Weighting of Top 10 26.14% 22.2% 100.0% 93.97%

Top 10 Holdings

  1. S+p500 Emini Fut Sep20 Xcme 20200918 14.97%
  2. S+p500 Emini Fut Sep20 Xcme 20200918 14.97%
  3. S+p500 Emini Fut Sep20 Xcme 20200918 14.97%
  4. S+p500 Emini Fut Sep20 Xcme 20200918 14.97%
  5. S+p500 Emini Fut Sep20 Xcme 20200918 14.97%
  6. S+p500 Emini Fut Sep20 Xcme 20200918 14.97%
  7. S+p500 Emini Fut Sep20 Xcme 20200918 14.97%
  8. S+p500 Emini Fut Sep20 Xcme 20200918 14.97%
  9. S+p500 Emini Fut Sep20 Xcme 20200918 14.97%
  10. S+p500 Emini Fut Sep20 Xcme 20200918 14.97%

Asset Allocation

Weighting Return Low Return High DBIWX % Rank
Stocks
49.95% 0.00% 238.38% 45.38%
Cash
24.23% -65.52% 88.88% 25.38%
Bonds
20.98% 0.00% 106.59% 59.23%
Other
4.84% -72.87% 73.78% 35.77%
Preferred Stocks
0.00% 0.00% 6.21% 45.77%
Convertible Bonds
0.00% 0.00% 8.92% 68.46%

Stock Sector Breakdown

Weighting Return Low Return High DBIWX % Rank
Healthcare
24.86% 0.00% 38.63% 5.53%
Communication Services
21.61% 0.00% 21.61% 2.30%
Technology
15.36% 0.00% 85.77% 54.38%
Financial Services
12.90% 0.00% 98.22% 49.31%
Industrials
6.53% 0.00% 23.85% 73.27%
Utilities
5.75% 0.00% 91.12% 26.27%
Consumer Defense
4.65% 0.00% 37.51% 70.97%
Consumer Cyclical
4.07% 0.00% 25.83% 74.65%
Basic Materials
3.12% 0.00% 56.73% 54.38%
Real Estate
1.13% 0.00% 99.45% 72.81%
Energy
0.00% 0.00% 60.89% 91.24%

Stock Geographic Breakdown

Weighting Return Low Return High DBIWX % Rank
Non US
34.15% -6.82% 98.11% 6.92%
US
15.80% -1.19% 235.84% 72.69%

Bond Sector Breakdown

Weighting Return Low Return High DBIWX % Rank
Cash & Equivalents
52.34% 0.22% 100.00% 38.08%
Government
36.80% 0.00% 99.78% 40.00%
Corporate
10.86% 0.00% 98.74% 37.69%
Derivative
0.00% 0.00% 71.81% 60.77%
Securitized
0.00% 0.00% 52.99% 65.00%
Municipal
0.00% 0.00% 19.13% 54.23%

Bond Geographic Breakdown

Weighting Return Low Return High DBIWX % Rank
US
15.15% -17.22% 99.80% 59.23%
Non US
5.83% -2.67% 63.37% 41.15%

DBIWX - Expenses

Operational Fees

DBIWX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.83% 0.44% 3.72% 87.21%
Management Fee 0.60% 0.00% 1.50% 21.46%
12b-1 Fee N/A 0.00% 1.00% 6.82%
Administrative Fee 0.10% 0.05% 0.70% 44.90%

Sales Fees

DBIWX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

DBIWX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 2.00% 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.

DBIWX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 43.00% 0.00% 441.00% 27.67%

DBIWX - Distributions

Dividend Yield Analysis

DBIWX Category Low Category High DBIWX % Rank
Dividend Yield 1.99% 0.00% 14.31% 19.62%

Dividend Distribution Analysis

DBIWX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually Monthly Annually

Net Income Ratio Analysis

DBIWX Category Low Category High DBIWX % Rank
Net Income Ratio 1.29% -2.12% 13.72% 28.52%

Capital Gain Distribution Analysis

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

Distributions History

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DBIWX - Fund Manager Analysis

Managers

Henning Potstada


Start Date

Tenure

Tenure Rank

May 08, 2017

5.07

5.1%

Henning Potstada, Managing Director. ■ Joined DWS in 2006. ■ Portfolio Manager for Multi Asset: Frankfurt. ■ MBA, University of Bayreuth, Germany.

Christoph-Arend Schmidt


Start Date

Tenure

Tenure Rank

May 08, 2017

5.07

5.1%

Christoph-Arend Schmidt, CFA, Vice President. ■ Joined DWS in 2008. ■ Portfolio Manager for Multi Asset: Frankfurt. ■ MBA, University of Bayreuth, Germany.

Stefan Flasdick


Start Date

Tenure

Tenure Rank

May 08, 2017

5.07

5.1%

Stefan Flasdick, Vice President. ■ Joined DWS in 2004. Prior to his current role, he served as a portfolio manager in Deutsche Bank Private Wealth Management. Previously, he served in Futures & Options Sales for Germany & Austria at JP Morgan in London and Frankfurt. He began his career as a Trainee in Treasury and F&O Sales at BfG Bank / Credit Lyonnais.

Fabian Degen


Start Date

Tenure

Tenure Rank

Mar 01, 2021

1.25

1.3%

Fabian Degen, CFA, Director. ■ Joined DWS in 2007. ■ Portfolio manager for US and Global Value Equity: New York. ■ Bachelor of International Business Administration in Investments and Finance from the International University of Applied Sciences Bad Honnef, Bonn with educational exchanges at the University of Maine (USA).

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 33.83 6.59 13.0