ETF Research Center

The Xtrackers Russell 1000 Comprehensive Factor ETF tracks the Russell 1000 Comprehensive Factor Index, which selects and weights securities within the Russell 1000 by five different factors.

FUND BASICS
Category	US Equities
Fund Sponsor	Deutsche Bank
Website	etfus.deutscheawm.com
Inception date	Nov 24, 2015
Assets (mns)	$221
Currency	USD
Expense ratio	17 bp
Distributions	Quarterly

FUND STRUCTURE
Regulation	Open-Ended Fund
Custodian
Weighting	Multi-Factor
Index replication
Uses derivatives	No
Options available	No

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	841
Wgt avg mkt cap (mns)	$32,188
Large cap (>$10bn)	71.7%
Mid cap ($2-10bn)	28.1%
Small cap (<$2bn)	0.2%
Developed mkts	100.0%
Emerging mkts	0.0%

TOP TEN HOLDINGS
Total	6.0 %
LAM RESEARCH CORP	0.8 %
CDW CORP/DE	0.7 %
CUMMINS INC	0.7 %
DOLLAR GENERAL CORP	0.6 %
PACCAR INC	0.6 %
APARTMENT INVT & MGMT CO -A	0.5 %
MEDICAL PROPERTIES TRUST INC	0.5 %
PULTE HOMES INC	0.5 %
DARDEN RESTAURANTS INC	0.5 %
SYSCO CORP	0.5 %

TOP COUNTRY EXPOSURE
	UNITED STATES	94.9 %
	IRELAND	1.5 %
	BERMUDA	0.8 %
	BRITAIN	0.7 %
	SWITZERLAND	0.5 %
	CHINA	0.1 %
	CANADA	0.1 %
	PUERTO RICO	0.1 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru November 30)
Year-to-date	1 year	5 years	10 years	Since Incep.
26.7%	14.5%	--	--	10.5%

Market Correlations
versus...	Beta	R-squared
S&P500	0.96	95%
MSCI EAFE	0.88	66%
MSCI Emg. Mkts.	0.60	50%

Technical Indicators
Recent close	$35.58
30d moving avg.	$35.34
Annualized volatility	11.9%
Short interest (ETF)	0.6%
Relative strength (RSI)	65

Liquidity measures
Avg. volume (thou.)	10
Turnover	0.2%
Bid/Ask (% of price)	0.13%
ADV underlying (mns)	$154,284

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Xtrackers Russell 1000 Comprehensive Factor ETF based on the alternatives' overlap in portfolio holdings with DEUS. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker:

DEUS

Expense:

17 bp

ALTAR Score™:

6.4%

ALTERNATIVE ETFs BASED ON OVERLAP WITH DEUS
Ticker	Fund Name	Overlap¹ vs DEUS (%)	Expense ratio (bp)	Savings vs DEUS (bp)	ALTAR Score™ (%)	ALTAR vs DEUS (%)
ONEO	SPDR Russell 1000 Momentum Focus	83.0	20	-3	6.5	+0.1
ONEV	SPDR Russell 1000 Low Volatility Focus	65.7	20	-3	7.0	+0.6
USEQ	Invesco Russell 1000 Enhanced Equal Weight	62.5	29	-12	6.7	+0.3
CFO	Victory CEMP US 500 Enhanced Volatility Wtd	57.6	35	-18	6.1	-0.3
CFA	Compass EMP US 500 Volatility Weighted	57.6	35	-18	6.1	-0.3
IWR	iShares Russell Midcap	54.5	19	-2	5.9	-0.5
SIZE	iShares MSCI USA Size Factor	53.9	15	2	6.3	-0.1
GSEW	Goldman Sachs Equal Weight U.S. Large Cap Equity	53.7	9	8	6.0	-0.4
EQAL	Invesco Russel 1000 Equal Weight	53.6	20	-3	5.9	-0.5
EUSA	iShares MSCI USA Equal Weight	52.9	15	2	6.5	+0.1
RSP	Invesco S&P 500 Equal Weight	52.6	20	-3	6.8	+0.4
JHMM	John Hancock Multifactor Mid Cap	51.1	44	-27	5.9	-0.5
JPUS	JPMorgan Diversified Return U.S. Equity	50.6	19	-2	6.3	-0.1
JHML	John Hancock Multifactor Large Cap	49.3	34	-17	6.0	-0.4
JPME	JPMorgan Diversified Return U.S. Mid Cap Equity	49.0	24	-7	6.1	-0.3
USLB	Invesco Russell 1000 Low Beta Equal Weight	48.2	35	-18	5.8	-0.6
SCIU	Global X Scientific Beta US	47.7	19	-2	5.7	-0.7
RNLC	Large Cap US Equity Select	45.9	60	-43	6.3	-0.1
FEX	First Trust Large Cap Core Alphadex	44.1	61	-44	6.4	-0.0
GSLC	Goldman Sachs ActiveBeta U.S. Large Cap Equity	43.6	9	8	6.1	-0.3

¹Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

	2014	2015	2016	2017	2018	2019E	2020E
Sales per share	**	**	**	**	**	**	**
Earnings per share	**	**	**	**	**	**	**
Dividends per share	**	**	**	**	**	**	**
Book value per share	**	**	**	**	**	**	**

Sales per share growth		**%	**%	**%	**%	**%	**%
EPS growth		**%	**%	**%	**%	**%	**%

Sales per share growth		**%	**%	**%	**%	**%	**%
EPS growth		**%	**%	**%	**%	**%	**%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est.	**%		Debt-to-equity	**x
Asset turnover	**%		Assets-to-equity	**x

Return on equity

Revision activity*

*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS

	2018	2019E	2020E
Price-to-sales	**	**	**
Price-to-earnings	**	**	**
Price-to-cash flow	**	**	**
Price-to-growth	**	**	**
Price-to-book value	**	**	**
Yield	**	**	**

Historical valuation trends

Forward multiple:	Xtrackers Russell 1000 Comprehensive Factor
Relative to:	S&P500	MSCI EAFE	MSCI Emg. Mkts.	Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™

Calculation of ALTAR Score™
Avg. Return on Equity	17.9	%
Divided by: Fwd. P/BV	2.7	x
Less: Expense ratio	17	bp
Equals: ALTAR Score	6.4	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.64	CATEGORY AVERAGE	1.56

The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale: BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3. Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.