NPORT-EX 2 376961DBX05312025.htm
DBX
ETF
Trust
|
1
Schedule
of
Investments
Xtrackers
MSCI
USA
Climate
Action
Equity
ETF
May
31,
2025
(Unaudited)
Number
of
Shares
Value
$
COMMON
STOCKS
—
99.4%
Communication
Services
—
13.0%
Alphabet,
Inc.,
Class
A
435,533
74,798,438
Alphabet,
Inc.,
Class
C
370,858
64,102,805
AT&T,
Inc.
587,749
16,339,422
Comcast
Corp.,
Class
A
307,321
10,624,087
Liberty
Media
Corp.-Liberty
Formula
One,
Class
C
*
17,072
1,647,960
Meta
Platforms,
Inc.,
Class
A
179,417
116,170,713
Netflix,
Inc.
*
35,053
42,317,033
Pinterest,
Inc.,
Class
A
*
50,664
1,576,157
Snap,
Inc.,
Class
A
*
91,697
756,500
T-Mobile
US,
Inc.
37,553
9,095,337
Verizon
Communications,
Inc.
345,217
15,175,739
Walt
Disney
Co.
147,915
16,720,312
(Cost
$275,339,634)
369,324,503
Consumer
Discretionary
—
12.6%
Airbnb,
Inc.,
Class
A
*
35,553
4,586,337
Amazon.com,
Inc.
*
650,179
133,293,197
Booking
Holdings,
Inc.
2,686
14,823,846
Chipotle
Mexican
Grill,
Inc.
*
109,976
5,507,598
Deckers
Outdoor
Corp.
*
13,290
1,402,361
DoorDash,
Inc.,
Class
A
*
29,326
6,118,870
eBay,
Inc.
38,317
2,803,655
Flutter
Entertainment
PLC
*
14,437
3,648,230
General
Motors
Co.
78,661
3,902,372
Hilton
Worldwide
Holdings,
Inc.
19,313
4,798,122
Home
Depot,
Inc.
81,084
29,862,426
Hyatt
Hotels
Corp.,
Class
A
4,103
541,719
Las
Vegas
Sands
Corp.
28,503
1,173,183
Lululemon
Athletica,
Inc.
*
9,359
2,963,714
Marriott
International,
Inc.,
Class
A
18,870
4,978,472
McDonald's
Corp.
58,487
18,356,145
MercadoLibre,
Inc.
*
3,772
9,668,730
NIKE,
Inc.,
Class
B
95,621
5,793,676
Royal
Caribbean
Cruises
Ltd.
21,476
5,518,688
Starbucks
Corp.
92,833
7,793,330
Tesla,
Inc.
*
237,082
82,139,430
Tractor
Supply
Co.
44,624
2,159,802
Ulta
Beauty,
Inc.
*
3,784
1,784,005
Williams-Sonoma,
Inc.
10,268
1,660,952
Yum!
Brands,
Inc.
22,669
3,262,976
(Cost
$298,946,400)
358,541,836
Consumer
Staples
—
5.2%
Church
&
Dwight
Co.,
Inc.
19,638
1,930,612
Clorox
Co.
10,727
1,414,677
Coca-Cola
Co.
334,332
24,105,337
Colgate-Palmolive
Co.
64,499
5,994,537
Number
of
Shares
Value
$
Constellation
Brands,
Inc.,
Class
A
13,944
2,486,076
Estee
Lauder
Cos.,
Inc.,
Class
A
19,881
1,330,834
General
Mills,
Inc.
42,818
2,323,305
Hershey
Co.
11,710
1,881,680
Kellanova
23,881
1,973,287
Keurig
Dr
Pepper,
Inc.
108,889
3,666,292
Kimberly-Clark
Corp.
26,843
3,858,950
McCormick
&
Co.,
Inc.
22,188
1,613,733
Molson
Coors
Beverage
Co.,
Class
B
15,706
841,684
Mondelez
International,
Inc.,
Class
A
105,304
7,106,967
PepsiCo,
Inc.
111,586
14,667,980
Procter
&
Gamble
Co.
191,743
32,575,218
Target
Corp.
38,708
3,638,939
The
Campbell's
Company
16,674
567,583
Walmart,
Inc.
360,983
35,636,242
(Cost
$140,405,475)
147,613,933
Energy
—
3.1%
Baker
Hughes
Co.
83,951
3,110,385
Chevron
Corp.
135,458
18,517,109
Diamondback
Energy,
Inc.
16,495
2,219,402
EOG
Resources,
Inc.
44,306
4,810,302
EQT
Corp.
45,930
2,532,121
Exxon
Mobil
Corp.
353,864
36,200,287
Halliburton
Co.
72,692
1,424,036
Hess
Corp.
24,100
3,185,779
Kinder
Morgan,
Inc.
167,461
4,695,607
Occidental
Petroleum
Corp.
56,466
2,302,684
ONEOK,
Inc.
52,229
4,222,192
Schlumberger
NV
108,006
3,569,598
(Cost
$94,510,757)
86,789,502
Financials
—
14.9%
American
Express
Co.
45,648
13,422,794
American
International
Group,
Inc.
48,600
4,113,504
Apollo
Global
Management,
Inc.
32,534
4,251,868
Arch
Capital
Group
Ltd.
32,252
3,065,230
Arthur
J
Gallagher
&
Co.
20,938
7,274,699
Bank
of
America
Corp.
591,362
26,096,805
Bank
of
New
York
Mellon
Corp.
58,763
5,206,989
Blackrock,
Inc.
12,023
11,781,218
Block,
Inc.
*
47,967
2,961,962
Carlyle
Group,
Inc.
19,761
893,197
Cboe
Global
Markets,
Inc.
8,724
1,998,843
Charles
Schwab
Corp.
141,318
12,484,032
Chubb
Ltd.
31,214
9,276,801
Cincinnati
Financial
Corp.
12,529
1,889,624
Citigroup,
Inc.
154,031
11,601,615
CME
Group,
Inc.
29,731
8,592,259
FactSet
Research
Systems,
Inc.
3,295
1,509,967
2
|
DBX
ETF
Trust
Schedule
of
Investments
Xtrackers
MSCI
USA
Climate
Action
Equity
ETF
(Continued)
May
31,
2025
(Unaudited)
Number
of
Shares
Value
$
Fidelity
National
Information
Services,
Inc.
43,149
3,435,092
Fiserv,
Inc.
*
45,695
7,438,689
Global
Payments,
Inc.
19,632
1,484,376
Goldman
Sachs
Group,
Inc.
25,418
15,262,238
Hartford
Insurance
Group,
Inc.
24,089
3,127,716
Intercontinental
Exchange,
Inc.
47,000
8,450,600
Jack
Henry
&
Associates,
Inc.
6,273
1,136,479
JPMorgan
Chase
&
Co.
229,521
60,593,544
Markel
Group,
Inc.
*
1,010
1,961,117
Marsh
&
McLennan
Cos.,
Inc.
40,149
9,381,215
Mastercard,
Inc.,
Class
A
66,727
39,075,331
Moody's
Corp.
13,132
6,294,430
Morgan
Stanley
98,932
12,666,264
Nasdaq,
Inc.
34,567
2,887,727
Northern
Trust
Corp.
16,370
1,747,334
PayPal
Holdings,
Inc.
*
76,600
5,383,448
Progressive
Corp.
48,037
13,687,182
Robinhood
Markets,
Inc.,
Class
A
*
59,692
3,948,626
S&P
Global,
Inc.
25,634
13,146,653
State
Street
Corp.
23,228
2,236,392
Travelers
Cos.,
Inc.
18,566
5,118,646
US
Bancorp
126,330
5,506,725
Visa,
Inc.,
Class
A
141,187
51,560,081
Wells
Fargo
&
Co.
266,903
19,959,006
Willis
Towers
Watson
PLC
8,076
2,556,458
(Cost
$327,014,104)
424,466,776
Health
Care
—
10.8%
Abbott
Laboratories
141,835
18,946,319
AbbVie,
Inc.
144,863
26,960,453
Agilent
Technologies,
Inc.
23,694
2,651,833
Alnylam
Pharmaceuticals,
Inc.
*
10,622
3,235,036
Amgen,
Inc.
43,947
12,664,647
Becton
Dickinson
&
Co.
23,299
4,021,174
Biogen,
Inc.
*
12,868
1,670,138
Boston
Scientific
Corp.
*
120,406
12,673,936
Bristol-Myers
Squibb
Co.
166,355
8,031,619
Danaher
Corp.
52,473
9,964,623
DaVita,
Inc.
*
4,590
625,433
Edwards
Lifesciences
Corp.
*
47,663
3,728,200
Elevance
Health,
Inc.
18,387
7,057,666
Eli
Lilly
&
Co.
65,993
48,681,056
Gilead
Sciences,
Inc.
102,058
11,234,545
Humana,
Inc.
10,287
2,398,208
IDEXX
Laboratories,
Inc.
*
6,762
3,471,340
Illumina,
Inc.
*
13,476
1,108,266
IQVIA
Holdings,
Inc.
*
14,046
1,971,075
Johnson
&
Johnson
197,490
30,652,423
Labcorp
Holdings,
Inc.
7,073
1,760,965
McKesson
Corp.
10,329
7,431,819
Number
of
Shares
Value
$
Merck
&
Co.,
Inc.
205,735
15,808,677
Mettler-Toledo
International,
Inc.
*
1,670
1,929,718
Pfizer,
Inc.
462,811
10,871,430
Regeneron
Pharmaceuticals,
Inc.
8,695
4,262,985
Thermo
Fisher
Scientific,
Inc.
30,761
12,391,146
UnitedHealth
Group,
Inc.
74,884
22,608,229
Vertex
Pharmaceuticals,
Inc.
*
21,034
9,298,080
Waters
Corp.
*
5,181
1,809,413
Zimmer
Biomet
Holdings,
Inc.
17,473
1,610,486
Zoetis,
Inc.
36,252
6,113,175
(Cost
$326,430,925)
307,644,113
Industrials
—
7.2%
3M
Co.
44,014
6,529,477
AECOM
11,710
1,286,343
AMETEK,
Inc.
19,011
3,398,026
Automatic
Data
Processing,
Inc.
33,483
10,899,721
Booz
Allen
Hamilton
Holding
Corp.
10,261
1,090,231
Broadridge
Financial
Solutions,
Inc.
9,989
2,425,629
Carlisle
Cos.,
Inc.
3,598
1,367,888
Carrier
Global
Corp.
63,271
4,504,895
Caterpillar,
Inc.
39,051
13,590,920
Cintas
Corp.
29,490
6,679,485
CSX
Corp.
150,924
4,767,689
Cummins,
Inc.
11,150
3,584,502
Deere
&
Co.
21,146
10,705,374
Dover
Corp.
11,961
2,126,068
Eaton
Corp.
PLC
31,942
10,227,828
Emerson
Electric
Co.
45,906
5,480,258
Equifax,
Inc.
10,605
2,801,735
FedEx
Corp.
18,493
4,033,323
Fortive
Corp.
26,552
1,863,685
IDEX
Corp.
6,533
1,181,885
Ingersoll
Rand,
Inc.
32,535
2,656,157
Jacobs
Solutions,
Inc.
9,647
1,218,416
Johnson
Controls
International
PLC
55,343
5,610,120
Lennox
International,
Inc.
2,497
1,409,432
Norfolk
Southern
Corp.
18,297
4,521,555
Old
Dominion
Freight
Line,
Inc.
16,065
2,573,131
PACCAR,
Inc.
42,343
3,973,890
Paychex,
Inc.
26,369
4,163,929
Paycom
Software,
Inc.
4,368
1,131,705
Quanta
Services,
Inc.
12,460
4,268,298
Republic
Services,
Inc.
18,324
4,714,582
Rockwell
Automation,
Inc.
9,183
2,897,696
Trane
Technologies
PLC
18,276
7,863,614
TransUnion
16,694
1,429,507
Uber
Technologies,
Inc.
*
154,610
13,011,978
Union
Pacific
Corp.
48,813
10,819,890
DBX
ETF
Trust
|
3
Schedule
of
Investments
Xtrackers
MSCI
USA
Climate
Action
Equity
ETF
(Continued)
May
31,
2025
(Unaudited)
Number
of
Shares
Value
$
United
Parcel
Service,
Inc.,
Class
B
61,023
5,952,183
Veralto
Corp.
20,486
2,069,701
Verisk
Analytics,
Inc.
11,328
3,558,578
Vertiv
Holdings
Co.,
Class
A
29,507
3,184,691
Waste
Connections,
Inc.
20,905
4,120,166
Waste
Management,
Inc.
32,794
7,902,370
Westinghouse
Air
Brake
Technologies
Corp.
13,679
2,767,535
Xylem,
Inc.
20,501
2,583,946
(Cost
$177,466,712)
202,948,032
Information
Technology
—
26.4%
Accenture
PLC,
Class
A
66,669
21,122,072
Adobe,
Inc.
*
45,371
18,833,048
Advanced
Micro
Devices,
Inc.
*
172,955
19,151,307
Analog
Devices,
Inc.
52,812
11,300,712
ANSYS,
Inc.
*
9,250
3,060,085
Atlassian
Corp.,
Class
A
*
17,406
3,614,008
Autodesk,
Inc.
*
22,625
6,699,715
Bentley
Systems,
Inc.,
Class
B
16,167
771,651
Cadence
Design
Systems,
Inc.
*
29,195
8,381,009
Cisco
Systems,
Inc.
424,028
26,730,725
Cloudflare,
Inc.,
Class
A
*
32,836
5,447,164
Cognizant
Technology
Solutions
Corp.,
Class
A
52,681
4,266,634
Crowdstrike
Holdings,
Inc.,
Class
A
*
26,395
12,441,811
Datadog,
Inc.,
Class
A
*
30,400
3,583,552
Dell
Technologies,
Inc.,
Class
C
34,315
3,818,230
Docusign,
Inc.
*
21,416
1,897,672
Fortinet,
Inc.
*
69,606
7,084,499
Gartner,
Inc.
*
8,126
3,546,349
Gen
Digital,
Inc.
55,108
1,569,476
GoDaddy,
Inc.,
Class
A
*
15,005
2,733,161
Hewlett
Packard
Enterprise
Co.
139,516
2,410,836
HubSpot,
Inc.
*
5,248
3,095,795
International
Business
Machines
Corp.
98,845
25,606,786
Intuit,
Inc.
29,761
22,424,021
Marvell
Technology,
Inc.
92,029
5,539,225
Microsoft
Corp.
376,855
173,488,968
NVIDIA
Corp.
1,284,784
173,612,862
Okta,
Inc.
*
17,621
1,817,958
Oracle
Corp.
179,224
29,666,949
Palantir
Technologies,
Inc.,
Class
A
*
228,210
30,073,514
Palo
Alto
Networks,
Inc.
*
70,484
13,562,531
PTC,
Inc.
*
12,584
2,118,139
QUALCOMM,
Inc.
117,801
17,104,705
Roper
Technologies,
Inc.
11,425
6,515,335
Salesforce,
Inc.
102,336
27,156,904
ServiceNow,
Inc.
*
22,041
22,285,435
Number
of
Shares
Value
$
Snowflake,
Inc.,
Class
A
*
33,750
6,941,362
Super
Micro
Computer,
Inc.
*
53,534
2,142,431
Synopsys,
Inc.
*
16,412
7,614,840
Trimble,
Inc.
*
25,717
1,832,851
Twilio,
Inc.,
Class
A
*
15,424
1,815,405
Workday,
Inc.,
Class
A
*
22,895
5,671,320
Zscaler,
Inc.
*
10,645
2,934,826
(Cost
$616,870,842)
751,485,878
Materials
—
1.5%
Avery
Dennison
Corp.
6,939
1,233,269
Ball
Corp.
20,931
1,121,483
Corteva,
Inc.
55,733
3,945,896
CRH
PLC
55,457
5,055,460
Crown
Holdings,
Inc.
10,234
1,008,049
DuPont
de
Nemours,
Inc.
35,652
2,381,554
Ecolab,
Inc.
21,250
5,644,425
Martin
Marietta
Materials,
Inc.
4,919
2,693,398
Newmont
Corp.
92,146
4,857,937
PPG
Industries,
Inc.
17,335
1,920,718
Sherwin-Williams
Co.
19,885
7,134,937
Smurfit
WestRock
PLC
43,261
1,874,499
Steel
Dynamics,
Inc.
11,785
1,450,380
Vulcan
Materials
Co.
10,638
2,819,815
(Cost
$39,475,756)
43,141,820
Real
Estate
—
2.4%
American
Tower
Corp.
REIT
38,173
8,193,834
AvalonBay
Communities,
Inc.
REIT
11,938
2,468,420
BXP,
Inc.
REIT
12,464
839,201
CBRE
Group,
Inc.,
Class
A
*
24,119
3,015,357
Crown
Castle,
Inc.
REIT
35,176
3,529,912
Digital
Realty
Trust,
Inc.
REIT
27,951
4,794,156
Equinix,
Inc.
REIT
8,048
7,153,223
Equity
Residential
REIT
29,050
2,037,567
Healthpeak
Properties,
Inc.
REIT
52,873
920,519
Iron
Mountain,
Inc.
REIT
24,663
2,434,485
Kimco
Realty
Corp.
REIT
56,027
1,191,134
Prologis,
Inc.
REIT
75,244
8,171,498
Public
Storage
REIT
13,067
4,029,994
Realty
Income
Corp.
REIT
72,763
4,119,841
Regency
Centers
Corp.
REIT
14,804
1,068,109
Simon
Property
Group,
Inc.
REIT
27,045
4,410,228
Welltower,
Inc.
REIT
52,556
8,108,340
Zillow
Group,
Inc.,
Class
C
*
12,893
865,249
(Cost
$63,279,853)
67,351,067
Utilities
—
2.3%
American
Water
Works
Co.,
Inc.
16,668
2,383,024
Consolidated
Edison,
Inc.
30,172
3,152,672
Constellation
Energy
Corp.
25,749
7,883,057
Dominion
Energy,
Inc.
67,997
3,853,390
Duke
Energy
Corp.
63,119
7,430,369
4
|
DBX
ETF
Trust
Schedule
of
Investments
Xtrackers
MSCI
USA
Climate
Action
Equity
ETF
(Continued)
May
31,
2025
(Unaudited)
Hidden
Row
At
May
31,
2025,
open
futures
contracts
purchased
were
as
follows:
Number
of
Shares
Value
$
Edison
International
31,146
1,733,275
Essential
Utilities,
Inc.
21,877
842,921
Eversource
Energy
30,495
1,976,381
Exelon
Corp.
81,764
3,582,899
NextEra
Energy,
Inc.
168,027
11,869,427
NiSource,
Inc.
38,208
1,510,744
Public
Service
Enterprise
Group,
Inc.
39,972
3,238,931
Sempra
54,924
4,316,477
Southern
Co.
89,043
8,013,870
Xcel
Energy,
Inc.
48,193
3,378,329
(Cost
$59,884,350)
65,165,766
Number
of
Shares
Value
$
TOTAL
COMMON
STOCKS
(Cost
$2,419,624,808)
2,824,473,226
CASH
EQUIVALENTS
—
0.4%
DWS
Government
Money
Market
Series
"Institutional
Shares",
4.26%
(a)
(Cost
$11,386,865)
11,386,865
11,386,865
TOTAL
INVESTMENTS
—
99.8%
(Cost
$2,431,011,673)  
2,835,860,091
Other
assets
and
liabilities,
net
—
0.2%
6,434,680
NET
ASSETS
—
100.0%
2,842,294,771
For
information
on
the
Fund’s
policies
regarding
the
valuation
of
investments
and
other
significant
accounting
policies,
please
refer
to
the
Fund’s
most
recent
semi-annual
or
annual
financial
statements.
A
summary
of
the
Fund’s
transactions
with
affiliated
investments
during
the
period ended
May
31,
2025
is
as
follows:
Value
($)
at
8/31/2024
Purchases
Cost
($)
Sales
Proceeds
($)
Net
Realized
Gain/(Loss)
($)
Net
Change
in
Unrealized
Appreciation
(Depreciation)
($)
Income
($)
Capital
Gain
Distributions
($)
Number
of
Shares
at
5/31/2025
Value
($)
at
5/31/2025
SECURITIES
LENDING
COLLATERAL
—
0.0%
DWS
Government
&
Agency
Securities
Portfolio
"DWS
Government
Cash
Institutional
Shares”,
4.22%
(a)(b)
—
—
—
—
—
63
—
—
—
CASH
EQUIVALENTS
—
0.4%
DWS
Government
Money
Market
Series
"Institutional
Shares",
4.26%
(a)
3,995,298
35,701,826
(28,310,259)
—
—
224,285
—
11,386,865
11,386,865
3,995,298
35,701,826
(28,310,259)
—
—
224,348
—
11,386,865
11,386,865
*
Non-income
producing
security.
(a)
Affiliated
fund
managed
by
DWS
Investment
Management
Americas,
Inc.
The
rate
shown
is
the
annualized
seven-day
yield
at
period
end.
(b)
Represents
collateral
held
in
connection
with
securities
lending.
Income
earned
by
the
Fund
is
net
of
borrower
rebates.
REIT:
Real
Estate
Investment
Trust
Contract
Description
Currency
Number
of
Contracts
Notional
Amount
(
$
)
Contract
Value
(
$
)
Expiration
Date
Unrealized
Appreciation
(
$
)
E-Mini
S&P
500
ESG
Index
USD
45
11,194,619
11,443,050
6/20/2025
248,431
E-Mini
S&P
Mid
400
Index
USD
9
2,665,135
2,703,690
6/20/2025
38,555
Total
unrealized
appreciation
286,986
DBX
ETF
Trust
|
5
Schedule
of
Investments
Xtrackers
MSCI
USA
Climate
Action
Equity
ETF
(Continued)
May
31,
2025
(Unaudited)
Currency
Abbreviations
Fair
Value
Measurements
Various
inputs
are
used
in
determining
the
value
of
the
Fund’s
investments.
These
inputs
are
summarized
in
three
broad
levels.
Level
1
includes
quoted
prices
in
active
markets
for
identical
securities.
Level
2
includes
other
significant
observable
inputs
(including
quoted
prices
for
similar
securities,
interest
rates,
prepayment
speeds
and
credit
risk).
Level
3
includes
significant
unobservable
inputs
(including
the
Fund’s
own
assumptions
in
determining
the
fair
value
of
investments).
The
level
assigned
to
the
securities
valuations
may
not
be
an
indication
of
the
risk
or
liquidity
associated
with
investing
in
those
securities.
The
following
is
a
summary
of
the
inputs
used
as
of
May
31,
2025
in
valuing
the
Fund’s
investments.
The
brand
DWS
represents
DWS
Group
GmbH
&
Co.
KGaA
and
any
of
its
subsidiaries
such
as
DWS
Distributors,
Inc.
which
offers
investment
products
or
DWS
Investment
Management
Americas
Inc.
and
RREEF
America
L.L.C.
which
offer
advisory
services.
USCA-PH3
USD
U.S.
Dollar
Assets
Level
1
Level
2
Level
3
Total
Common
Stocks
(a)
$
2,824,473,226
$
—
$
—
$
2,824,473,226
Short-Term
Investments
(a)
11,386,865
—
—
11,386,865
Derivatives
(b)
Futures
Contracts
286,986
—
—
286,986
TOTAL
$
2,836,147,077
$
—
$
—
$
2,836,147,077
(a)
See
Schedule
of
Investments
for
additional
detailed
categorizations.
(b)
Derivatives
include
unrealized
appreciation
(depreciation)
on
open
futures
contracts.