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        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vanguard Total International Bond ETF</name>
        <lei>549300BXRBFWS9SORH32</lei>
        <title>Vanguard Total International Bond ETF</title>
        <cusip>92203J407</cusip>
        <identifiers>
          <isin value="US92203J4076"/>
        </identifiers>
        <balance>110241.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6309092.43000000</valUSD>
        <pctVal>7.621150295988</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DWS</name>
        <lei>7ZTO776E5MK53FQ3GJ57</lei>
        <title>DWS GNMA Fund</title>
        <cusip>25155T676</cusip>
        <identifiers>
          <isin value="US25155T6762"/>
        </identifiers>
        <balance>674873.70300000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9185031.10000000</valUSD>
        <pctVal>11.09517783470</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>iShares MSCI Japan ETF</name>
        <lei>5493008I6YRUC6I0S051</lei>
        <title>iShares MSCI Japan ETF</title>
        <cusip>46434G822</cusip>
        <identifiers>
          <isin value="US46434G8226"/>
        </identifiers>
        <balance>37307.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2474573.31000000</valUSD>
        <pctVal>2.989193029456</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>iShares US Treasury Bond ETF</name>
        <lei>549300YMK9GAMCTG8G20</lei>
        <title>iShares US Treasury Bond ETF</title>
        <cusip>46429B267</cusip>
        <identifiers>
          <isin value="US46429B2676"/>
        </identifiers>
        <balance>127828.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3404059.64000000</valUSD>
        <pctVal>4.111978136441</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>iShares MSCI Pacific ex Japan ETF</name>
        <lei>549300BD232B3QSQRR65</lei>
        <title>iShares MSCI Pacific ex Japan ETF</title>
        <cusip>464286665</cusip>
        <identifiers>
          <isin value="US4642866655"/>
        </identifiers>
        <balance>24521.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1169651.70000000</valUSD>
        <pctVal>1.412895990756</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DWS</name>
        <lei>KKQKEDL2J9UGWEWMX474</lei>
        <title>DWS Small Cap Core Fund 'S'</title>
        <cusip>25157M810</cusip>
        <identifiers>
          <isin value="US25157M8102"/>
        </identifiers>
        <balance>41638.14600000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1964487.73000000</valUSD>
        <pctVal>2.373028515760</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DWS</name>
        <lei>P4CSKNTUAGEYOFMNDU45</lei>
        <title>DWS Core Equity Fund 'Institutional'</title>
        <cusip>25157M687</cusip>
        <identifiers>
          <isin value="US25157M6874"/>
        </identifiers>
        <balance>337203.01200000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12274189.64000000</valUSD>
        <pctVal>14.82676708984</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DWS ESG Core Equity Fund</name>
        <lei>549300SW8V87DO07CE34</lei>
        <title>DWS ESG Core Equity Fund</title>
        <cusip>25159G704</cusip>
        <identifiers>
          <isin value="US25159G7043"/>
        </identifiers>
        <balance>355821.32800000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7699973.54000000</valUSD>
        <pctVal>9.301283231235</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2021-12-29</ncom:dateSigned>
      <ncom:nameOfApplicant>DEUTSCHE DWS ASSET ALLOCATION TRUST</ncom:nameOfApplicant>
      <ncom:signature>Diane Kenneally</ncom:signature>
      <ncom:signerName>Diane Kenneally</ncom:signerName>
      <ncom:title>Treasurer and Chief Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
