ETF Research Center

The Xtrackers S&P 500 ESG ETF tracks a principles-selected, market cap-weighted index of U.S. Large Cap securities.

FUND BASICS
Category	US Equities
Fund Sponsor	Deutsche Bank
Website	www.dws.com
Inception date	Jun 26, 2019
Assets (mns)	$103
Currency	USD
Expense ratio	11 bp
Distributions	Quarterly

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

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	314
Wgt avg mkt cap (mns)	$316,138
Large cap (>$10bn)	98.2%
Mid cap ($2-10bn)	1.8%
Small cap (<$2bn)	0.0%
Developed mkts	100.0%
Emerging mkts	0.0%

TOP TEN HOLDINGS
Total	28.2 %
MICROSOFT CORP	6.0 %
APPLE INC	5.9 %
AMAZON.COM INC	3.8 %
JPMORGAN CHASE & CO	2.2 %
ALPHABET INC. CLASS C	2.1 %
ALPHABET INC. CLASS A	2.1 %
VISA INC-CLASS A SHARES	1.6 %
PROCTER & GAMBLE CO/THE	1.6 %
EXXON MOBIL CORP	1.5 %
AT&T INC	1.5 %

TOP COUNTRY EXPOSURE
	UNITED STATES	95.6 %
	IRELAND	2.4 %
	BRITAIN	1.2 %
	SWITZERLAND	0.6 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru January 01)
Year-to-date	1 year	5 years	10 years	Since Incep.
--	--	--	--	0.0%

Market Correlations
versus...	Beta	R-squared
S&P500	--	--
MSCI EAFE	--	--
MSCI Emg. Mkts.	--	--

Technical Indicators
Recent close	$26.85
30d moving avg.	$26.35
Annualized volatility	0.0%
Short interest (ETF)	0.3%
Relative strength (RSI)	79

Liquidity measures
Avg. volume (thou.)	42
Turnover	1.1%
Bid/Ask (% of price)	0.12%
ADV underlying (mns)	$93,180

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Xtrackers S&P 500 ESG ETF based on the alternatives' overlap in portfolio holdings with SNPE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker:

SNPE

Expense:

11 bp

ALTAR Score™:

5.8%

ALTERNATIVE ETFs BASED ON OVERLAP WITH SNPE
Ticker	Fund Name	Overlap¹ vs SNPE (%)	Expense ratio (bp)	Savings vs SNPE (bp)	ALTAR Score™ (%)	ALTAR vs SNPE (%)
IWL	iShares Russell Top 200	77.5	15	-4	5.7	-0.1
PBP	Invesco S&P 500 Buy/Write	76.6	49	-38	5.6	-0.2
PRID	InsightShares LGBT Employment Equality	76.6	65	-54	5.7	-0.1
JUST	Goldman Sachs JUST U.S. Large Cap Equity	76.6	20	-9	5.6	-0.2
MGC	Vanguard Mega Cap 300 ETF	76.1	7	4	5.8	+0.0
HSPX	Global X S&P 500 Covered Call	74.9	65	-54	5.5	-0.3
SPXV	ProShares S&P 500 Ex-Health Care	74.1	27	-16	5.7	-0.1
SPXN	ProShares S&P 500 Ex-Financials	74.0	27	-16	5.9	+0.1
SPY	S&P 500 SPDR	73.6	9	2	5.9	+0.1
IVV	iShares Core S&P 500	73.5	4	7	6.0	+0.2
SPYX	SPDR S&P 500 Fossil Fuel Reserves Free	73.5	20	-9	5.9	+0.2
VOO	Vanguard S&P 500 ETF	73.4	3	8	6.0	+0.2
OVOL	Invesco Russell 1000 Low Volatility Factor ETF	73.4	19	-8	5.6	-0.2
SPXE	ProShares S&P 500 Ex-Energy	73.3	27	-16	5.9	+0.1
SPXT	ProShares S&P 500 Ex-Technology	71.6	27	-16	6.0	+0.2
PBUS	Invesco PureBeta MSCI USA	70.4	4	7	6.0	+0.2
BBUS	JP Morgan Betabuilders U.S. Equity	70.2	2	9	5.9	+0.1
VV	Vanguard Large-Cap ETF	70.0	4	7	5.8	+0.1
WOMN	Impact Shares YWCA Women's Empowerment	69.0	75	-64	5.5	-0.3
OEF	iShares S&P 100	69.0	20	-9	5.5	-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 S&P 500 ESG
Relative to:	S&P500	MSCI EAFE	MSCI Emg. Mkts.	Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™

Calculation of ALTAR Score™
Avg. Return on Equity	17.3	%
Divided by: Fwd. P/BV	2.9	x
Less: Expense ratio	11	bp
Equals: ALTAR Score	5.8	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.47	CATEGORY AVERAGE	1.55

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.