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)	$218
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	839
Wgt avg mkt cap (mns)	$34,214
Large cap (>$10bn)	70.4%
Mid cap ($2-10bn)	29.6%
Small cap (<$2bn)	0.1%
Developed mkts	100.0%
Emerging mkts	0.0%

TOP TEN HOLDINGS
Total	6.2 %
PULTE HOMES INC	0.8 %
WESTERN UNION CO	0.7 %
PHILLIPS 66	0.7 %
BEST BUY CO INC	0.6 %
CDW CORP/DE	0.6 %
NVR INC	0.6 %
CBRE GROUP INC	0.6 %
SYNOPSYS INC	0.6 %
MCKESSON CORP	0.5 %
SAIC INC	0.5 %

TOP COUNTRY EXPOSURE
	UNITED STATES	94.4 %
	IRELAND	1.6 %
	BRITAIN	1.0 %
	BERMUDA	0.7 %
	SWITZERLAND	0.4 %
	CHINA	0.2 %
	CANADA	0.1 %
	PUERTO RICO	0.1 %
	PANAMA	0.0 %
	LUXEMBOURG	0.0 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru January 31)
Year-to-date	1 year	5 years	10 years	Since Incep.
-1.2%	17.2%	--	--	10.2%

Market Correlations
versus...	Beta	R-squared
S&P500	0.96	95%
MSCI EAFE	0.88	67%
MSCI Emg. Mkts.	0.57	48%

Technical Indicators
Recent close	$35.98
30d moving avg.	$36.87
Annualized volatility	12.0%
Short interest (ETF)	0.3%
Relative strength (RSI)	56

Liquidity measures
Avg. volume (thou.)	18
Turnover	0.3%
Bid/Ask (% of price)	0.13%
ADV underlying (mns)	$160,025

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Xtrackers Russell 1000 Comprehensive Factor ETF 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™:

6.8%

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 ETF	82.6	20	-3	6.9	+0.1
ONEV	SPDR Russell 1000 Low Volatility Focus ETF	63.8	20	-3	7.1	+0.3
USEQ	Invesco Russell 1000 Enhanced Equal Weight ETF	61.1	29	-12	6.7	-0.1
CFO	Victory CEMP US 500 Enhanced Volatility Weighted Index ETF	55.8	35	-18	6.1	-0.7
CFA	Victory CEMP US 500 Volatility Weighted Index ETF	55.7	35	-18	6.1	-0.7
SIZE	iShares Edge MSCI USA Size Factor ETF	54.7	15	2	6.1	-0.7
EUSA	iShares MSCI USA Equal Weighted ETF	54.7	15	2	6.1	-0.7
IWR	iShares Russell Midcap ETF	52.9	19	-2	5.6	-1.2
RSP	Invesco S&P 500 Equal Weight ETF	52.1	20	-3	6.7	-0.1
GSEW	Goldman Sachs Equal Weight U.S. Large Cap Equity ETF	51.6	9	8	6.0	-0.8
EQAL	Invesco Russell 1000 Equal Weight ETF	51.5	20	-3	5.8	-1.0
JHMM	John Hancock Multifactor Mid Cap ETF	51.4	44	-27	5.8	-1.0
JHML	John Hancock Multifactor Large Cap ETF	49.3	34	-17	5.9	-0.9
JPUS	JPMorgan Diversified Return U.S. Equity ETF	48.5	19	-2	6.3	-0.5
SSPY	Syntax Stratified LargeCap ETF	47.3	30	-13	6.0	-0.8
JPME	JPMorgan Diversified Return U.S. Mid Cap Equity ETF	45.8	24	-7	6.0	-0.8
OSIZ	Invesco Russell 1000 Size Factor ETF	45.3	19	-2	6.1	-0.7
RNLC	Large Cap US Equity Select ETF	44.6	60	-43	6.3	-0.5
SCIU	Global X Scientific Beta US ETF	43.9	19	-2	5.8	-1.0
IWS	iShares Russell Mid-Cap Value ETF	43.4	24	-7	6.7	-0.1

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

	2015	2016	2017	2018	2019	2020E	2021E
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

	2019	2020E	2021E
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 ETF
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	18.1	%
Divided by: Fwd. P/BV	2.6	x
Less: Expense ratio	17	bp
Equals: ALTAR Score	6.8	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.62	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.