Xtrackers S&P 500 2x Inverse Daily UCITS ETF (XT2D)

The aim is for your investment to reflect the performance of the S&P 500 2x Inverse Daily Index (index) which provides two times the opposite performance of the S&P 500 Index (Underlying Index) on a daily basis plus a rate of interest. This means that the level of the index should rise at double the rate the Underlying Index falls and fall at double the rate the Underlying Index rises. The interest rate added to the index level is based on three times the rate at which banks in London lend US dollars to each other overnight. The Underlying Index is designed to reflect the performance of shares of 500 companies representing all major US industries and comprises shares of large companies traded on certain eligible US exchanges. A company's weighting in the Underlying Index depends on its relative size based on the combined value of a company’s readily available shares compared to other companies on the stock markets. To achieve the aim, the fund will enter into financial contracts (derivatives) with one or more swap counterparties to swap most subscription proceeds for the return on the index. Certain information (including the latest share prices of the fund, indicative net asset values, full disclosure on the composition of the fund's portfolio and information on the index constituents) are available on your local DWS website or at www.Xtrackers.com. Transaction costs and taxes, unexpected fund costs and market conditions such as volatility or liquidity issues may affect the ability of the fund to track the index. The anticipated level of tracking error in normal market conditions is 1 per cent. The currency of the fund is USD. Returns and gains are not distributed but are reinvested in the fund. You may request the redemption of shares generally on a daily basis.