As filed with the Securities and Exchange Commission on October 11, 2012
Securities Act File No. 333-139872
Investment Company File No. 811-22001
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-1A
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933 | x | |||
Pre-Effective Amendment No. | ¨ | |||
Post-Effective Amendment No. 9 | x |
and/or
REGISTRATION STATEMENT
UNDER
THE INVESTMENT COMPANY ACT OF 1940 | x | |||
Amendment No. 11 | x | |||
(Check appropriate box or boxes) |
db-X Exchange-Traded Funds Inc.
(Exact Name of Registrant as Specified in Charter)
60 Wall Street
New York, New York 10005
(Address of Principal Executive Offices) (Zip Code)
Registrants Telephone Number, including Area Code: (212) 250-5883
Alex Depetris
db-X Exchange-Traded Funds Inc.
60 Wall Street
New York, New York 10005
(Name and Address of Agent for Service)
Copy to:
Stuart Strauss, Esq.
Dechert LLP
1095 Avenue of the Americas
New York, New York 10036
It is proposed that this filing will become effective: (check appropriate box)
x | immediately upon filing pursuant to paragraph (b) |
¨ | on (date) pursuant to paragraph (b) |
¨ | 60 days after filing pursuant to paragraph (a)(1) |
¨ | on (date) pursuant to paragraph (a)(1) |
¨ | 75 days after filing pursuant to paragraph (a)(2) |
¨ | on (date) pursuant to paragraph (a)(2) of Rule 485 |
If appropriate, check the following box:
¨ | this post-effective amendment designates a new effective date for a previously filed post-effective amendment |
EXPLANATORY NOTE
This amendment is being filed solely to submit exhibits containing risk/return summary information in interactive data format that is identical to the risk/return information contained in the Registrants prospectus that was filed with the Securities and Exchange Commission in Post-Effective Amendment No. 8 to the Registrants registration statement on September 28, 2012.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all of the requirements for effectiveness of this Registration Statement pursuant to Rule 485(b) under the 1933 Act and has duly caused this Post-Effective Amendment to the Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, on the 11 day of October, 2012.
db-X Exchange-Traded Funds Inc. | ||
By: | /s/ Alex Depetris | |
Alex Depetris | ||
President and Chief Executive Officer |
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities stated and on the dates indicated.
SIGNATURE |
CAPACITY |
DATE | ||
/s/ Alex Depetris |
Director and Chairman, President and | October 11, 2012 | ||
Alex Depetris | Chief Executive Officer | |||
/s/ Michael Gilligan |
Treasurer, Chief Financial | October 11, 2012 | ||
Michael Gilligan | Officer and Controller | |||
/s/ Ernest J. Scalberg* |
Director | October 11, 2012 | ||
Ernest J. Scalberg | ||||
/s/ Michael G. Smith* |
Director | October 11, 2012 | ||
Michael G. Smith | ||||
/s/ R. Charles Tschampion* |
Director | October 11, 2012 | ||
R. Charles Tschampion |
*By: | /s/ Alex Depetris | |
Alex Depetris (attorney-in-fact) |
EXHIBIT INDEX
Exhibit Number |
Description | |
EX-101.INS | XBRL Instance Document | |
EX-101.SCH | XBRL Taxonomy Extension Schema Document | |
EX-101.CAL | XBRL Taxonomy Extension Calculation Linkbase | |
EX-101.DEF | XBRL Taxonomy Extension Definition Linkbase | |
EX-101.LAB | XBRL Taxonomy Extension Labels Linkbase | |
EX-101.PRE | XBRL Taxonomy Extension Presentation Linkbase |
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Label | Element | Value | ||||||||||||||||||||||||||||||||||||
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Risk/Return: | rr_RiskReturnAbstract | |||||||||||||||||||||||||||||||||||||
Registrant Name | dei_EntityRegistrantName | db-X Exchange-Traded Funds Inc. | ||||||||||||||||||||||||||||||||||||
Prospectus Date | rr_ProspectusDate | Sep. 28, 2012 | ||||||||||||||||||||||||||||||||||||
db-X 2040 Target Date Fund
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Risk/Return: | rr_RiskReturnAbstract | |||||||||||||||||||||||||||||||||||||
Risk/Return [Heading] | rr_RiskReturnHeading | db-X 2040 Target Date Fund Summary Information |
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Objective [Heading] | rr_ObjectiveHeading | Investment Objective/Goal | ||||||||||||||||||||||||||||||||||||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | The Fund seeks to track the performance, before fees and expenses, of the Zacks 2040 Lifecycle Index (the “Underlying Index”). The Fund’s investment objective is not fundamental and may be changed without shareholder approval. Shareholders will be given 60 days’ notice of any change in investment objective. | ||||||||||||||||||||||||||||||||||||
Expense [Heading] | rr_ExpenseHeading | Fees and Expenses of the Fund | ||||||||||||||||||||||||||||||||||||
Expense Narrative [Text Block] | rr_ExpenseNarrativeTextBlock | This table describes the fees and expenses you may pay if you buy and hold shares (“Shares” or “db-X Target Date Shares”) of the Fund. Investors may pay brokerage commissions on their purchases and sales of Shares, which are not reflected in the table or the example below. | ||||||||||||||||||||||||||||||||||||
Operating Expenses Caption [Text] | rr_OperatingExpensesCaption | Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) |
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Fee Waiver or Reimbursement over Assets, Date of Termination | rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination | September 30, 2013 | ||||||||||||||||||||||||||||||||||||
Portfolio Turnover [Heading] | rr_PortfolioTurnoverHeading | Portfolio Turnover | ||||||||||||||||||||||||||||||||||||
Portfolio Turnover [Text Block] | rr_PortfolioTurnoverTextBlock | The Fund pays transaction costs, such as commissions, when it purchases and sells securities (or “turns over” its portfolio). A higher portfolio turnover will cause the Fund to incur additional transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in Total Annual Fund Operating Expenses or in the example, may affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 34% of the average value of its portfolio. | ||||||||||||||||||||||||||||||||||||
Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 34.00% | ||||||||||||||||||||||||||||||||||||
Expense Exchange Traded Fund Commissions [Text] | rr_ExpenseExchangeTradedFundCommissions | Investors may pay brokerage commissions on their purchases and sales of Shares, which are not reflected in the table or the example below. | ||||||||||||||||||||||||||||||||||||
Expense Example [Heading] | rr_ExpenseExampleHeading | Example | ||||||||||||||||||||||||||||||||||||
Expense Example Narrative [Text Block] | rr_ExpenseExampleNarrativeTextBlock | This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. This example assumes that you invest $10,000 in the Fund for the time periods indicated and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: |
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Strategy [Heading] | rr_StrategyHeading | Principal Investment Strategies | ||||||||||||||||||||||||||||||||||||
Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | As its primary strategy, the Fund will invest at least 90% of its assets in the component securities (the "Component Securities") of the Underlying Index, depositary receipts representing Component Securities and investments that have economic characteristics that are substantially identical to the economic characteristics of the Component Securities of the Underlying Index. Such securities may include domestic and international equity securities (including common stocks and real estate investment trusts) and fixed income securities (including bonds, treasury bills and notes, mortgage real estate investment trusts, cash, cash equivalents and short-term money market instruments). The domestic equity portion may include securities from all capitalization ranges. Only investment-grade fixed income securities are eligible for inclusion in the fixed income portion of the Underlying Index. The Fund employs a representative sampling indexing strategy in managing the portfolio by holding equity securities and fixed income securities that, in the aggregate, are intended to approximate the Underlying Index in terms of key characteristics, such as price/earnings ratio, earnings growth, maturity, duration, or dividend yield. The Fund will provide shareholders with at least 60 days' notice of any change in these policies. The Underlying Index is comprised of securities from three broad asset classes: international equities, domestic equities, and fixed income, and is designed to represent a diversified portfolio of securities with the potential to outperform the Lipper Mixed-Asset Target 2030+ Index, on a risk adjusted basis. The current allocation of the Underlying Index is approximately 21% in international equities, 72% in domestic equities and 7% in fixed income and will be systematically reconstituted and rebalanced annually, or quarterly when necessary, pursuant to a proprietary methodology developed by Zacks Investment Research ("Zacks"), the creator of the Underlying Index. The weighted average duration for the fixed income securities will, collectively, approximate as nearly as possible the time to the target termination date, December 31, 2040. Following the target date, the duration for the fixed income securities will increase each year up to a maximum duration of five years. Upon reaching the target date, the Underlying Index will have approximately a 10% allocation to equity securities. Over the next five years, allocations shift from conservative to more moderately-conservative allocations, allowing for a larger exposure to equities than at the target date ("Moderately-Conservative Allocation"). The securities in the universe are selected using a proprietary methodology developed by Zacks. Investors should note that the allocations listed above, and in the chart below, are as of June 30, 2012. The following chart shows how the investment glidepath for the Fund is expected to gradually shift to a Moderately-Conservative Allocation. The actual asset allocations of the Fund may differ from this chart. The Fund seeks to achieve its final target allocation five years following the target date. |
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Risk [Heading] | rr_RiskHeading | Principal Risks of Investing in the Fund | ||||||||||||||||||||||||||||||||||||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | The following summarizes the principal risks that have been identified for the Fund.
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Risk Lose Money [Text] | rr_RiskLoseMoney | The Fund’s Shares will change in value, and you could lose money by investing in the Fund. | ||||||||||||||||||||||||||||||||||||
Risk Not Insured Depository Institution [Text] | rr_RiskNotInsuredDepositoryInstitution | An investment in the Fund is not a deposit with a bank and is not insured or guaranteed by the FDIC or any other government agency. | ||||||||||||||||||||||||||||||||||||
Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | Performance | ||||||||||||||||||||||||||||||||||||
Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | Historical Fund performance, which varies over time, can provide an indication of the risks of investing in the Fund. The bar chart that follows shows the annual total returns of the Fund for each full calendar year since the Fund commenced operations. The table that follows the bar chart shows the Fund’s average annual total returns, both before and after taxes. The table also shows how the Fund’s performance compares to the Zacks 2040 Lifecycle Index and that of a relevant broad-based securities index. Index returns do not reflect deductions of fees, expenses or taxes. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available online at http://dbxstrategicadvisors.db.com. | ||||||||||||||||||||||||||||||||||||
Performance Information Illustrates Variability of Returns [Text] | rr_PerformanceInformationIllustratesVariabilityOfReturns | Historical Fund performance, which varies over time, can provide an indication of the risks of investing in the Fund. | ||||||||||||||||||||||||||||||||||||
Performance Availability Website Address [Text] | rr_PerformanceAvailabilityWebSiteAddress | http://dbxstrategicadvisors.db.com | ||||||||||||||||||||||||||||||||||||
Performance Past Does Not Indicate Future [Text] | rr_PerformancePastDoesNotIndicateFuture | The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. | ||||||||||||||||||||||||||||||||||||
Bar Chart [Heading] | rr_BarChartHeading | Total Returns | ||||||||||||||||||||||||||||||||||||
Bar Chart Closing [Text Block] | rr_BarChartClosingTextBlock | The Fund's year-to-date total return as of June 30, 2012, was 7.40%. Best and Worst Quarter Returns (for the periods reflected in the bar chart above)
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Performance Table Heading | rr_PerformanceTableHeading | Average Annual Total Returns for the periods ended December 31, 2011 | ||||||||||||||||||||||||||||||||||||
Index No Deduction for Fees, Expenses, Taxes [Text] | rr_IndexNoDeductionForFeesExpensesTaxes | Index returns do not reflect deductions of fees, expenses or taxes. | ||||||||||||||||||||||||||||||||||||
Performance Table Uses Highest Federal Rate | rr_PerformanceTableUsesHighestFederalRate | After-tax returns in the table below are calculated using the highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. | ||||||||||||||||||||||||||||||||||||
Performance Table Not Relevant to Tax Deferred | rr_PerformanceTableNotRelevantToTaxDeferred | Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold Shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. | ||||||||||||||||||||||||||||||||||||
Performance Table Narrative | rr_PerformanceTableNarrativeTextBlock | After-tax returns in the table below are calculated using the highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold Shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. | ||||||||||||||||||||||||||||||||||||
db-X 2040 Target Date Fund | db-X 2040 Target Date Shares
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Risk/Return: | rr_RiskReturnAbstract | |||||||||||||||||||||||||||||||||||||
Management Fee | rr_ManagementFeesOverAssets | 0.65% | ||||||||||||||||||||||||||||||||||||
Other Expenses | rr_OtherExpensesOverAssets | 0.55% | ||||||||||||||||||||||||||||||||||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 1.20% | ||||||||||||||||||||||||||||||||||||
Fee Waivers and Expense Reimbursement | rr_FeeWaiverOrReimbursementOverAssets | (0.55%) | [1] | |||||||||||||||||||||||||||||||||||
Total Annual Fund Operating Expenses After Fee Waivers and Expense Reimbursement | rr_NetExpensesOverAssets | 0.65% | [1] | |||||||||||||||||||||||||||||||||||
1 YEAR | rr_ExpenseExampleYear01 | 66 | ||||||||||||||||||||||||||||||||||||
3 YEARS | rr_ExpenseExampleYear03 | 326 | ||||||||||||||||||||||||||||||||||||
5 YEARS | rr_ExpenseExampleYear05 | 607 | ||||||||||||||||||||||||||||||||||||
10 YEARS | rr_ExpenseExampleYear10 | 1,406 | ||||||||||||||||||||||||||||||||||||
2008 | rr_AnnualReturn2008 | (37.43%) | ||||||||||||||||||||||||||||||||||||
2009 | rr_AnnualReturn2009 | 24.50% | ||||||||||||||||||||||||||||||||||||
2010 | rr_AnnualReturn2010 | 11.95% | ||||||||||||||||||||||||||||||||||||
2011 | rr_AnnualReturn2011 | (0.37%) | ||||||||||||||||||||||||||||||||||||
Year to Date Return, Label | rr_YearToDateReturnLabel | The Fund's year-to-date total return as of June 30, 2012 | ||||||||||||||||||||||||||||||||||||
Bar Chart, Year to Date Return, Date | rr_BarChartYearToDateReturnDate | Jun. 30, 2012 | ||||||||||||||||||||||||||||||||||||
Bar Chart, Year to Date Return | rr_BarChartYearToDateReturn | 7.40% | ||||||||||||||||||||||||||||||||||||
Highest Quarterly Return, Label | rr_HighestQuarterlyReturnLabel | Highest Return | ||||||||||||||||||||||||||||||||||||
Highest Quarterly Return, Date | rr_BarChartHighestQuarterlyReturnDate | Jun. 30, 2009 | ||||||||||||||||||||||||||||||||||||
Highest Quarterly Return | rr_BarChartHighestQuarterlyReturn | 17.67% | ||||||||||||||||||||||||||||||||||||
Lowest Quarterly Return, Label | rr_LowestQuarterlyReturnLabel | Lowest Return | ||||||||||||||||||||||||||||||||||||
Lowest Quarterly Return, Date | rr_BarChartLowestQuarterlyReturnDate | Dec. 31, 2008 | ||||||||||||||||||||||||||||||||||||
Lowest Quarterly Return | rr_BarChartLowestQuarterlyReturn | (21.01%) | ||||||||||||||||||||||||||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | (0.37%) | ||||||||||||||||||||||||||||||||||||
Since Inception | rr_AverageAnnualReturnSinceInception | (4.22%) | ||||||||||||||||||||||||||||||||||||
Inception Date | rr_AverageAnnualReturnInceptionDate | Oct. 01, 2007 | ||||||||||||||||||||||||||||||||||||
db-X 2040 Target Date Fund | Return after taxes on distributions | db-X 2040 Target Date Shares
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Risk/Return: | rr_RiskReturnAbstract | |||||||||||||||||||||||||||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | (0.66%) | ||||||||||||||||||||||||||||||||||||
Since Inception | rr_AverageAnnualReturnSinceInception | (4.52%) | ||||||||||||||||||||||||||||||||||||
Inception Date | rr_AverageAnnualReturnInceptionDate | Oct. 01, 2007 | ||||||||||||||||||||||||||||||||||||
db-X 2040 Target Date Fund | Return after taxes on distributions and sale of Fund shares | db-X 2040 Target Date Shares
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Risk/Return: | rr_RiskReturnAbstract | |||||||||||||||||||||||||||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | 0.13% | ||||||||||||||||||||||||||||||||||||
Since Inception | rr_AverageAnnualReturnSinceInception | (3.60%) | ||||||||||||||||||||||||||||||||||||
Inception Date | rr_AverageAnnualReturnInceptionDate | Oct. 01, 2007 | ||||||||||||||||||||||||||||||||||||
db-X 2040 Target Date Fund | Dow Jones U.S. Target 2040 Index (reflects no deduction for fees, expenses or taxes)
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Risk/Return: | rr_RiskReturnAbstract | |||||||||||||||||||||||||||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | (3.57%) | ||||||||||||||||||||||||||||||||||||
Since Inception | rr_AverageAnnualReturnSinceInception | (1.61%) | ||||||||||||||||||||||||||||||||||||
Inception Date | rr_AverageAnnualReturnInceptionDate | Oct. 01, 2007 | ||||||||||||||||||||||||||||||||||||
db-X 2040 Target Date Fund | Zacks 2040 Lifecycle Index (reflects no deduction for fees, expenses or taxes)
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Risk/Return: | rr_RiskReturnAbstract | |||||||||||||||||||||||||||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | (0.02%) | ||||||||||||||||||||||||||||||||||||
Since Inception | rr_AverageAnnualReturnSinceInception | (4.07%) | ||||||||||||||||||||||||||||||||||||
Inception Date | rr_AverageAnnualReturnInceptionDate | Oct. 01, 2007 | ||||||||||||||||||||||||||||||||||||
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