DWS Announces Liquidation of Two Xtrackers ETFs

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DWS Announces Liquidation of Two Xtrackers ETFs

4/17/2026

New

For further information please contact:

Audrey Richie

audrey.richie@db.com

+1 (212) 454-8509

Christian Gubler

christian.gubler@db.com

+1 (212) 454-8507

NEW YORK, NY – DWS, a leading European asset manager with global reach, today announced the impending closure and liquidation of two Xtrackers ETFs: Xtrackers Risk Managed USD High Yield Strategy ETF (NYSE: HYRM) and Xtrackers California Municipal Bond ETF (NASDAQ: CA).

Xtrackers Risk Managed USD High Yield Strategy ETF is listed on NYSE. After the close of business on May 7, 2026, the fund will no longer accept creation orders and will end trading. The fund will accept redemption orders through close of business on May 15, 2026. Proceeds of the liquidation are currently scheduled to be sent to shareholders on or about May 20, 2026.

Xtrackers California Municipal Bond ETF is listed on NASDAQ. After the close of business on May 7, 2026, the fund will no longer accept creation orders and will end trading. The fund will accept redemption orders through May 15, 2026. Proceeds of the liquidation are currently scheduled to be sent to shareholders on or about May 22, 2026.

When a liquidating fund commences liquidation of its portfolio securities, the liquidating fund may hold cash and securities that may not be consistent with the liquidating fund’s investment objective and strategy. During this period, each liquidating fund is likely to incur higher tracking error than is typical for the liquidating fund. Furthermore, during the time between market open on May 8, 2026, and the liquidating fund’s distribution date, because shares will not be traded on the exchanges, DWS cannot assure investors that there will be a market for their shares.

Shareholders may sell their holdings of a liquidating fund on the relevant exchange until the market close on May 7, 2026, and may incur typical transaction fees from their broker-dealer. If a shareholder still holds shares on the liquidating fund’s distribution date, each liquidating fund will automatically redeem those shares for cash at the current net asset value as of the close of business on that date. Shareholders generally will recognize a capital gain or loss on the redemptions. The liquidating funds may or may not, depending upon each liquidating fund’s circumstances, pay one or more dividends or other distributions prior to or along with the redemption payments. Investors should consult their personal tax advisor about the potential tax consequences.

The full list of Xtrackers ETF products can be found here: ETF Products | Xtrackers by DWS

Xtrackers U.S., Global Product Suite, and AuM Update

The Xtrackers U.S. product suite currently comprises 44 ETFs, and as of April 13, 2026, approximately USD 30 billion in assets under management. Xtrackers globally now consists of over 339 UCITS ETFs and ETCs as of March 31, 2026, with approximately EUR 311 billion in assets under management.

Globally, Xtrackers by DWS is a large and established provider of high-quality exchange traded funds (ETFs) and exchange traded commodities (ETCs). Providing efficient “passive” exposure to indices or to single commodities, Xtrackers ETFs and ETCs provide a comprehensive set of dependable investment tools for effective portfolio allocation. 

About DWS Group

DWS Group (DWS), with EUR 1,085bn of total assets under management (as of 31 December 2025), is a leading European asset manager with global reach. With approximately 5,000 employees in offices around the world, DWS offers individuals, institutions and large corporations access to comprehensive investment solutions and bespoke portfolios across the full spectrum of investment disciplines. Its diverse expertise in Active, Passive and Alternative asset management enables DWS to deliver targeted solutions for clients across all major liquid and illiquid asset classes. www.dws.com

IMPORTANT INFORMATION
ETF shares are not individually redeemable, and owners of shares of CA or HYRM (each, a “Fund”) may acquire those shares from the Fund or tender such shares for the redemption to the Fund in Creation Units only.

Consider each Fund’s investment objective, risk factors and charges and expenses before investing. This and other important information can be found in each Fund’s prospectus, which may be obtained by calling 1-844-851-4255 or by viewing or downloading a prospectus at www.xtrackers.com Please read it carefully before investing.

The brand Xtrackers represents all systematic investment solutions. Xtrackers ETFs in the U.S. are managed by DBX Advisors LLC (the “Advisor”) and distributed by ALPS Distributors, Inc. (“ALPS”). The Advisor is a wholly owned subsidiary of DWS Group GmbH & Co. KGaA and is not affiliated with ALPS.

Because ETFs trade on a securities exchange, their shares may trade at a premium or discount to their net asset value. ETFs also incur fees and expenses so they may not fully match the performance of the indexes they are designed to track. Investing involves risk, including the possible loss of principal. Stocks may decline in value. An investment in the Fund should be considered only as a supplement to a complete investment program for those investors willing to accept the risks associated with the Fund.

Past performance is no guarantee of future results.

War, terrorism, sanctions, economic uncertainty, trade disputes, public health crises and related geopolitical events have led, and, in the future, may lead to significant disruptions in U.S. and world economies and markets, which may lead to increased market volatility and may have significant adverse effects on the Fund and its investments.

This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

Certain statements contained in this release may be forward-looking in nature. These include all statements relating to plans, expectations, and other statements that are not historical facts and typically use words like “expect,” “anticipate,” “believe,” “intend,” and similar expressions. Such statements represent management’s current beliefs, based upon information available at the time the statements are made, with regards to the matters addressed. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Management does not undertake any obligation to update or revise any forward-looking statements, whether, as a result of new information, future events, or otherwise. The following factors, among others, could cause actual results to differ materially from forward-looking statements: (i) the effects of adverse changes in market and economic conditions; (ii) legal and regulatory developments; and (iii) other additional risks and uncertainties, including public health crises, war, terrorism, trade disputes and related geopolitical events.

NOT FDIC/ NCUA INSURED • MAY LOSE VALUE • NO BANK GUARANTEE
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.

109967-2 (04/2027) / DBX007283 (04/2027)

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War, terrorism, sanctions, economic uncertainty, trade disputes, public health crises and related geopolitical events have led and, in the future, may lead to significant disruptions in US and world economies and markets, which may lead to increased market volatility and may have significant adverse effects on the fund and its investment.

Obtain a prospectus
Carefully consider the fund's investment objectives, risk factors, charges and expenses before investing. This and other information can be found in the fund's prospectus. To obtain a mutual fund summary prospectus, if available, or prospectus, call (800) 728-3337 or download one here. To obtain an ETF prospectus call (844) 851-4255 or download one here. To obtain the RREEF Property Trust prospectus, download one here. Read the prospectus carefully before investing.

Investing involves risk including loss of principal. Stocks may decline in value. Bond investments are subject to interest-rate, credit, liquidity, and market risks to varying degrees. When interest rates rise, bond prices generally fall. You cannot invest directly in an index. Credit risk refers to the ability of an issuer to make timely payments of principal and interest. Investing in derivatives entails special risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility. Foreign investing involves greater and different risks than investing in US companies, including currency fluctuations, less liquidity, less developed or less efficient trading markets, lack of comprehensive company information, political instability and differing auditing and legal standards. Emerging markets tend to be more volatile and less liquid than the markets of more mature economies, and generally have less diverse and less mature economic structures and less stable political systems than those of developed countries. Funds investing in a single industry, country or in a limited geographic region generally are more volatile than more diversified funds. Performance of a fund may diverge from that of an underlying index due to operating expenses, transaction costs, cash flows, use of sampling strategies or operational inefficiencies. There are additional risks associated with investing in high-yield bonds, aggressive growth stocks, non-diversified/concentrated funds and small- and mid-cap stocks which are more fully explained in the prospectuses, as applicable. An investment in any fund should be considered only as a supplement to a complete investment program for those investors willing to accept the risks associated with that fund. Please read the applicable prospectus for more information.

Shares of exchange traded funds (ETFs) are bought and sold at market price (not NAV) throughout the day on the Fund’s Primary Listing Exchange. There can be no assurance that an active trading market for shares of a fund will develop or be maintained. Transactions in shares of ETFs will result in Brokerage commissions and will generate tax consequences. There are risks associated with investing, including possible loss of principal.

Shares of ETFs may be sold throughout the day on the exchange through any brokerage account. However, shares may only be purchased and redeemed directly from the funds by authorized participants in very large creation/redemption units. There is no assurance that an active trading market for shares of an ETF will develop or be maintained.

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.

Xtrackers ETFs ("ETFs") are managed by DBX Advisors LLC (the "Adviser"), and distributed by ALPS Distributors, Inc. (“ALPS”). The Adviser is a subsidiary of DWS Group GmbH & Co. KGaA, and is not affiliated with ALPS.

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