Important security note: Warning of attempted fraud in the name of DWS
We have detected that fraudulent individuals are misusing the "DWS" trademark and the names of DWS employees on the internet and social media. These fraudsters are operating fake websites, Facebook pages, and WhatsApp groups. Please be aware that DWS does not have any Facebook Ambassador profiles or WhatsApp chats. If you receive any unexpected calls, messages, or emails claiming to be from DWS, exercise caution and do not make any payments or disclose personal information. We encourage you to report any suspicious activity to info@dws.com, including any relevant documents and the original fraudulent email. Additionally, if you believe you have been a victim of fraud, please notify your local authorities and take steps to protect yourself.
A separately managed account is a portfolio of securities that is professionally managed separately from other portfolios.
SMA portfolios are made up of stocks, bonds, and other securities and can be customized to align with an investor's unique goals and preferences and provide tax efficiencies.
With mutual funds and exchange-traded funds (ETFs), an investor is a partial shareholder in a professionally managed fund that owns a diversified basket of securities. With SMAs, instead of owning a share in the fund, clients own the individual securities (stocks, bonds) in their account.
Active Municipal Strategies | Laddered Municipal Strategies |
| Short Managed Municipal Bond Strategy | Intermediate Managed Municipal Bond Strategy | Total Market Managed Municipal Bond Strategy | Short Municipal Ladder | Intermediate Municipal Ladder | |
| Benchmark | Bloomberg Barclays Municipal Bond 1-5 Year Index | Bloomberg Barclays Municipal Bond 1-15 Year Index | Bloomberg Barclays Municipal Bond Index | Bloomberg Managed Money Short Term Index | Bloomberg Managed Money Short/Intermediate (1-10 Year) Index |
| Maturity range | 1-6 years | 1-17 years | 1-30+ years | 1-5 years | 1-10+ years |
| Duration range | 2-3 years | 3-6 years | 5-9 years | 2-3 years | 3-6 years |
| Average credit quality | AA- or higher | AA- or higher | AA- or higher | AA- or higher | AA- or higher |
| Factsheet | Factsheet | Factsheet | |||
| Monthly Commentary | Monthly Commentary | Monthly Commentary | |||
| Model Portfolio | Model Portfolio | Model Portfolio |
Please email Matt Dutro, Head of SMA Platform if you would like to receive a sample portfolio.
*Materials are for Financial Advisors and their clients use only.
Note: Not all DWS products and services are offered in all jurisdictions and availability is subject to local regulatory restrictions and requirements. Past performance is not a guarantee of future returns, and no assurance can be given that the investment objective will be achieved.
$100,000 minimum is among lowest in the industry.
SMA portfolios may allow for better tax efficiency customized to individual client needs. Seek to maximize tax loss harvesting opportunities.
State specificity, AMT, Coupon Reinvestment, Sustainability/Values-Based.
DocuSign agreements available along with portfolio transition analysis and easy map over from custodians for in-kind transfer of securities.
Allocating to A/BBB-rated bonds can provide a yield advantage to competitors that focus in AAA/AA only.
Average of 24 years of industry experience investing with an institutional (insurance) and UHNW/HNW pedigree. Ability to leverage retail and institutional portfolios to maximize trading execution for clients.
Example: Multi-family housing and prepaid gas can add value and total return opportunities while enhancing yield relative to competitors.
“Firm level” pricing for both active and ladders offered (all RIA clients receive same pricing).
2-4 weeks on average.
brian.maute@dws.com Brian Maute Head of Client Coverage – U.S. Wealth and RIA | mattt.dutro@dws.com Matt Dutro Head of SMA Platform Global Client Group |
Certain DIMA Advised Funds, other pooled investment vehicles and separately managed account strategies advised by DIMA are labeled as ESG and/or otherwise incorporate specific ESG considerations into their investment objectives, strategies, and/or processes (collectively, “ESG-dedicated Strategies”), in each instance, as described in the offering documents for such DIMA Advised Funds or pooled investment vehicle or the strategy’s investment guidelines (in the case of SMAs, as dictated by the Client).
Investing in securities that meet specific ESG criteria may result in foregoing otherwise attractive opportunities, which may result in underperformance when compared to products that don’t restrict investment based on ESG factors. Environmental, social, and governance (ESG) criteria are a set of standards for a company's operations that socially conscious investors use to screen potential investments: Environmental (how a company performs as a steward of nature); Social (how a company manages relationships with employee, suppliers, customers, and communities); Governance (company's leadership, executive pay, shareholder rights, etc.). The approach to incorporating ESG is tailored specifically to different strategies in accordance with client investment objectives and may require different tools to be utilized in consideration of ESG in the investment process.
Coupon is the interest rate, expressed as an annual percentage of face value, which a bond issuer promises to pay until maturity. Credit risk refers to the risk that a borrower will default on any type of debt by failing to make payments which it is obligated to do. Maturity is the date on which a debt becomes due for payment. Inverse floaters are bonds or other debt securities whose coupon rates have an inverse relationship to short-term interest rates. A floating rate note is a debt instrument with a variable interest rate. No assurance can be given that investment objectives will be achieved. Investments are subject to risk, including possible loss of invested capital.
Municipal securities are subject to the risk that litigation, legislation or other political events, local business or economic conditions or the bankruptcy of the issuer could have a significant effect on an issuer’s ability to make payments of principal and/or interest. The market for municipal bonds may be less liquid than for taxable bonds and there may be less information available on the financial condition of issuers of municipal securities than for public corporations.
Index performance is shown for illustrative purposes only and is not intended to represent historical or to predict future performance of any specific investment or DWS’s. DWS products may have experienced negative performance over these time periods. Past performance is not indicative of future results. Investments are subject to risk, including possible loss of investment capital.
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This website is intended to be a general communication and is provided for informational and/or educational purposes only. None of the content should be viewed as a suggestion that you take or refrain from taking any action nor as a recommendation for any specific investment product, strategy, plan feature or other such purpose. Your use of this website indicates that you agree with the intended purpose. Prior to making any investment or financial decision, you should seek individualized advice from a personal financial, tax, and other professionals who are able to provide advice in the context of your particular financial situation.
DWS does not render legal or tax advice, and the information contained in this communication should not be regarded as such. The comments, opinions and estimates contained herein are based on or derived from publicly available information from sources that we believe to be reliable. We do not guarantee their accuracy. This material is for informational purposes only and sets forth our views as of this date. The underlying assumptions and these views are subject to change without notice.
For institutional client and registered representative use only. Not for public viewing or distribution.
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 investments.
Past performance is not indicative of future returns. No assurance can be made that investment objectives will be achieved.
To obtain a summary prospectus, if available, or prospectus, for Institutional money market funds distributed by DWS Distributors, Inc., download one now or call Institutional Investor Services at (800) 730-1313, Monday through Friday, 8:30 am to 6:00 pm ET. We advise you to carefully consider the product's objectives, risks, charges and expenses before investing. The summary prospectus and prospectus contain this information and other important information about the investment product, including management fees and expenses. Please read the prospectus carefully before you invest or send money.
Forecasts are based on assumptions, estimates, opinions and hypothetical models that may prove to be incorrect. Investments come with risk. The value of an investment can fall as well as rise and your capital may be at risk. You might not get back the amount originally invested at any point in time.
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.
Certain DWS products and services may not be available in every region or country for legal or other reasons, and information about these products or services is not directed to those investors residing or located in any such region or country.
© 2025 DWS Group GmbH & Co. KGaA. All rights reserved.
DWS Distributors, Inc. Member FINRA FINRA BrokerCheck
This website is intended to be a general communication and is provided for informational and/or educational purposes only. None of the content should be viewed as a suggestion that you take or refrain from taking any action nor as a recommendation for any specific investment product, strategy, plan feature or other such purpose. Your use of this website indicates that you agree with the intended purpose. Prior to making any investment or financial decision, you should seek individualized advice from a personal financial, tax, and other professionals who are able to provide advice in the context of your particular financial situation.
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.
XtrackersTM is a trademark of DWS Group. All other trademarks, servicemarks or registered trademarks are the property of their respective owners. Your use of this site signifies that you accept our Terms & Conditions of Use.
This site is intended for U.S. investors only.
Copyright © 2025 DWS Group GmbH & Co. KGaA. All rights reserved.
DWS Distributors, Inc. Member FINRA | FINRA BrokerCheck
Important information – U.S.
This website is intended to be a general communication and is provided for informational and/or educational purposes only. None of the content should be viewed as a suggestion that you take or refrain from taking any action nor as a recommendation for any specific investment product, strategy, plan feature or other such purpose. Your use of this website indicates that you agree with the intended purpose. Prior to making any investment or financial decision, you should seek individualized advice from a personal financial, tax, and other professionals who are able to provide advice in the context of your particular financial situation.
DWS does not render legal or tax advice, and the information contained in this communication should not be regarded as such. The comments, opinions and estimates contained herein are based on or derived from publicly available information from sources that we believe to be reliable. We do not guarantee their accuracy. This material is for informational purposes only and sets forth our views as of this date. The underlying assumptions and these views are subject to change without notice.
For institutional client and registered representative use only. Not for public viewing or distribution.
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 investments.
Past performance is not indicative of future returns. No assurance can be made that investment objectives will be achieved.
To obtain a summary prospectus, if available, or prospectus, for Institutional money market funds distributed by DWS Distributors, Inc., download one now or call Institutional Investor Services at (800) 730-1313, Monday through Friday, 8:30 am to 6:00 pm ET. We advise you to carefully consider the product's objectives, risks, charges and expenses before investing. The summary prospectus and prospectus contain this information and other important information about the investment product, including management fees and expenses. Please read the prospectus carefully before you invest or send money.
Forecasts are based on assumptions, estimates, opinions and hypothetical models that may prove to be incorrect. Investments come with risk. The value of an investment can fall as well as rise and your capital may be at risk. You might not get back the amount originally invested at any point in time.
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.
Certain DWS products and services may not be available in every region or country for legal or other reasons, and information about these products or services is not directed to those investors residing or located in any such region or country.
© 2025 DWS Group GmbH & Co. KGaA. All rights reserved.
DWS Distributors, Inc. Member FINRA FINRA BrokerCheck
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The DWS Americas website is published in the United States (US) for investors or institutions who are residents of the US. Investors or institutions outside of the US are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this website. A Financial Professional is considered to be an Institutional investor, and the content prepared on this website is intended only for US Institutional investors and their financial representatives, and may not be suitable for and/or available to all investors. By clicking “accept and continue” below you are confirming that you are a US Financial Professional.
The information on this website should not be construed as an offer or solicitation of securities or services or an endorsement thereof in any jurisdiction or in any circumstance that is otherwise unlawful or not authorized. The information contained on this website is not intended as investment, accounting, tax or legal advice, but to the extent may be deemed to be a financial promotion under non-US jurisdictions, is provided for use by professional investors only and not for onward distribution to, or to be relied upon by, retail investors. Products and services may be provided in various countries by the subsidiaries and joint ventures of DWS.
Nothing contained herein is fiduciary or impartial investment advice that is individualized or directed to any plan, plan participant, or IRA owner regarding the advisability of any investment transaction, including any IRA distribution or rollover.
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.
R-070495-4 (7/25)
