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DWS Global Macro Fund
mutual fund
DBISX
Payout Change
Pending
Price as of:
$10.68
+0.04
+0.38%
primary theme
Tactical Allocation
share class
DBISX (Mutual Fund)
DWS Global Macro Fund
Payout Change
Pending
Price as of:
$10.68
+0.04
+0.38%
primary theme
Tactical Allocation
share class
DBISX (Mutual Fund)
DWS Global Macro Fund
Payout Change
Pending
Price as of:
$10.68
+0.04
+0.38%
primary theme
Tactical Allocation
share class
Name
As of 10/11/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
6.3%
1 yr return
12.0%
3 Yr Avg Return
2.7%
5 Yr Avg Return
3.7%
Net Assets
$181 M
Holdings in Top 10
35.7%
52 WEEK LOW AND HIGH
$10.6
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.30%
SALES FEES
Front Load 5.75%
Deferred Load N/A
TRADING FEES
Turnover 43.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
$500
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/11/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
DBISX - Profile
Distributions
- YTD Total Return 6.3%
- 3 Yr Annualized Total Return 2.7%
- 5 Yr Annualized Total Return 3.7%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.03%
- Dividend Yield 2.6%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameDWS Global Macro Fund
-
Fund Family NameDWS Funds
-
Inception DateFeb 28, 2001
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerStefan Flasdick
Fund Description
Main investments. The fund invests in equities (common and preferred), bonds, structured notes, money market instruments, exchange-traded funds (ETFs), and cash. The fund may invest up to 15% of net assets in equity-linked notes (ELNs), which are structured notes that offer returns linked to the performance or value of a single equity security, a basket of equity securities, or an equity index. There are generally no limits on asset class exposures, provided that risk parameters set by portfolio management are met. The fund may also invest in alternative asset classes (including real estate, REITs, infrastructure, convertibles, commodities and currencies). The fund may achieve exposure to commodities by investing in commodities-linked derivatives. In addition, the fund may invest in ETFs, other registered investment companies or exchange-traded notes (ETNs) to gain exposure to certain asset classes, including commodities. The fund’s allocation to different global markets and to different investment instruments will vary depending on the overall economic cycle and assessment by portfolio management. The fund may also invest in asset backed securities, short-term securities and cash equivalents.The fund can invest in securities of any size, investment style category, maturity, duration or credit quality (including junk bonds, which are those rated below the fourth highest credit rating category (that is, grade BB/Ba and below)), and from any country (including emerging markets). Under normal conditions, the fund will have investment exposure to at least three countries and combined direct and indirect exposure to foreign securities, foreign currencies and other foreign investments (measured on a gross basis) equal to at least 40% of the fund’s net assets. For purposes of the foregoing policy, an investment is considered to be an investment in a foreign security or foreign investment if the issuer is organized or located outside the US or is doing a substantial amount of business outside of the US. An issuer that derives at least 50% of its revenue from business outside the US or has at least 50% of its assets outside the US will be considered to be doing a substantial amount of business outside the US.The fund may have exposure to gold in an amount up to 10% of the fund’s total assets. The fund may gain exposure to gold by investing in a wholly-owned subsidiary formed under the laws of the Cayman Islands (the “Subsidiary”), which shares the same portfolio management team as the fund and invests mainly in gold ETFs that do not operate as commodity pools, and fixed income instruments. Exposure to gold is intended to diversify the fund’s portfolio in order to reduce volatility and provide downside protection. Selection of the Subsidiary’s investments in gold ETFs involves consideration of various factors, including tracking error, liquidity, issuer, size and risk/return, as applicable.Management process. Portfolio management constructs the fund’s portfolio using a combination of top-down macro views and bottom-up research along with risk management strategies. Based on the top-down macro views, the portfolio management team outlines a strategic allocation among asset classes for the portfolio which is a reflection of the team's broad market view. The portfolio management team further takes into consideration news flows, market sentiment and technical factors and then decides on a targeted level of risk. Idea generation, allocation by regions and sectors as well as position sizing are important features of the strategic allocation process during which exposures to different asset classes are determined. Selection of investments is then made using bottom-up fundamental analysis. Portfolio management may consider environmental, social and governance (ESG) factors, that it believes to be financially material, in its fundamental analysis. In evaluating ESG issues, portfolio management refers to internal securities specific ESG ratings, internal and external ESG research and other factors. The portfolio management team evaluates the strategic allocations and fund investments on an ongoing basis from a risk/return perspective.Currencies are considered an asset class in their own right by portfolio management and form an integral part of the strategic allocation and the investment selection process. Currencies are actively managed and portfolio management attempts to hedge against undesired currency risk. Portfolio management views currency as an important additional source of alpha-generation. Active currency positions may be taken across developed and emerging market currencies to exploit under- and/or over-valued currencies and to benefit from currency fluctuations. Portfolio management also views currency management as a beneficial source of risk diversification. Completely or partially applied currency hedges may also impact overall fund performance.Derivatives. The fund may invest in derivatives, which are financial instruments whose performance is derived, at least in part, from the performance of an underlying asset, security or index. In particular, portfolio management takes active currency positions using derivatives such as forward currency contracts, futures contracts (including equity index futures) or options contracts. Portfolio management may also use forward currency contracts to hedge the fund’s exposure to changes in foreign currency exchange rates on its foreign currency denominated portfolio holdings or to facilitate transactions in foreign currency denominated securities.In addition, portfolio management may use futures or options contracts as a substitute for direct investment in a particular asset class, for duration management, for hedging purposes or to keep cash on hand to meet shareholder redemptions. The fund may write covered call options on its portfolio securities to seek to enhance the income generated by the fund’s portfolio. Commodities-linked derivatives may also be used to achieve exposure to commodities (excluding gold).The fund may also use other types of derivatives (i) for hedging purposes; (ii) for risk management; (iii) for non-hedging purposes to seek to enhance potential gains; or (iv) as a substitute for direct investment in a particular asset class or to keep cash on hand to meet shareholder redemptions.Securities lending. The fund may lend securities (up to one-third of total assets) to approved institutions, such as registered broker-dealers, pooled investment vehicles, banks and other financial institutions. In connection with such loans, the fund receives liquid collateral in an amount that is based on the type and value of the securities being lent, with riskier securities generally requiring higher levels of collateral.
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DBISX - Performance
Return Ranking - Trailing
| Period | DBISX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 6.3% | -4.5% | 26.0% | 81.57% |
| 1 Yr | 12.0% | -1.6% | 51.8% | 86.64% |
| 3 Yr | 2.7%* | -19.4% | 12.7% | 39.53% |
| 5 Yr | 3.7%* | -11.8% | 25.0% | 78.43% |
| 10 Yr | 5.4%* | -4.1% | 10.4% | 37.96% |
* Annualized
Return Ranking - Calendar
| Period | DBISX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 5.9% | -18.9% | 60.2% | 56.94% |
| 2022 | -11.0% | -48.5% | 0.1% | 19.07% |
| 2021 | 5.1% | -19.0% | 48.3% | 43.46% |
| 2020 | 1.4% | -16.5% | 52.8% | 76.96% |
| 2019 | 9.1% | -8.5% | 26.6% | 62.31% |
Total Return Ranking - Trailing
| Period | DBISX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 6.3% | -4.5% | 26.0% | 81.57% |
| 1 Yr | 12.0% | -1.6% | 51.8% | 86.64% |
| 3 Yr | 2.7%* | -19.4% | 12.7% | 39.53% |
| 5 Yr | 3.7%* | -11.8% | 25.0% | 78.43% |
| 10 Yr | 5.4%* | -4.1% | 10.4% | 37.96% |
* Annualized
Total Return Ranking - Calendar
| Period | DBISX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 8.9% | -11.7% | 61.8% | 56.94% |
| 2022 | -7.1% | -48.5% | 4.6% | 13.95% |
| 2021 | 5.7% | -14.2% | 48.3% | 83.18% |
| 2020 | 2.0% | -11.7% | 77.4% | 85.29% |
| 2019 | 12.3% | -3.9% | 28.4% | 63.32% |
NAV & Total Return History
DBISX - Holdings
Concentration Analysis
| DBISX | Category Low | Category High | DBISX % Rank | |
|---|---|---|---|---|
| Net Assets | 181 M | 1.98 M | 12.4 B | 51.61% |
| Number of Holdings | 93 | 2 | 2274 | 43.32% |
| Net Assets in Top 10 | 70.2 M | 1.55 M | 9.46 B | 59.91% |
| Weighting of Top 10 | 35.69% | 20.8% | 109.8% | 82.49% |
Top 10 Holdings
- SPDR Gold MiniShares Trust 6.55%
- U.S. Treasury Bonds 3.89%
- U.S. Treasury Bonds 3.52%
- Alphabet Inc 3.34%
- DWS Central Cash Management Government Fund 3.32%
- U.S. Treasury Notes 3.04%
- U.S. Treasury Notes 3.03%
- U.S. Treasury Notes 3.03%
- U.S. Treasury Notes 3.01%
- Microsoft Corp 2.96%
Asset Allocation
| Weighting | Return Low | Return High | DBISX % Rank | |
|---|---|---|---|---|
| Stocks | 53.12% | 0.00% | 145.83% | 75.12% |
| Bonds | 41.72% | 0.00% | 106.59% | 14.75% |
| Cash | 5.08% | -33.22% | 99.64% | 40.09% |
| Other | 0.09% | -29.71% | 135.29% | 27.65% |
| Preferred Stocks | 0.00% | -0.09% | 5.36% | 23.04% |
| Convertible Bonds | 0.00% | 0.00% | 8.92% | 61.29% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | DBISX % Rank | |
|---|---|---|---|---|
| Healthcare | 24.86% | 0.00% | 38.63% | 4.37% |
| Communication Services | 21.61% | 0.00% | 21.61% | 1.64% |
| Technology | 15.36% | 0.00% | 85.77% | 56.83% |
| Financial Services | 12.90% | 0.00% | 98.22% | 50.27% |
| Industrials | 6.53% | 0.00% | 23.85% | 71.58% |
| Utilities | 5.75% | 0.00% | 91.12% | 26.23% |
| Consumer Defense | 4.65% | 0.00% | 37.51% | 69.40% |
| Consumer Cyclical | 4.07% | 0.00% | 25.83% | 73.22% |
| Basic Materials | 3.12% | 0.00% | 56.73% | 53.55% |
| Real Estate | 1.13% | 0.00% | 99.45% | 72.68% |
| Energy | 0.00% | 0.00% | 60.89% | 90.71% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | DBISX % Rank | |
|---|---|---|---|---|
| Non US | 27.34% | -1.94% | 38.53% | 3.23% |
| US | 25.78% | 0.00% | 145.83% | 81.11% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | DBISX % Rank | |
|---|---|---|---|---|
| Government | 36.80% | 0.00% | 99.78% | 38.25% |
| Corporate | 10.86% | 0.00% | 95.17% | 37.33% |
| Cash & Equivalents | 4.13% | 0.00% | 99.38% | 39.63% |
| Derivative | 0.09% | -15.85% | 135.29% | 26.27% |
| Securitized | 0.00% | 0.00% | 52.99% | 57.14% |
| Municipal | 0.00% | 0.00% | 19.13% | 46.54% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | DBISX % Rank | |
|---|---|---|---|---|
| US | 38.58% | 0.00% | 92.67% | 11.06% |
| Non US | 3.14% | 0.00% | 26.57% | 15.21% |
DBISX - Expenses
Operational Fees
| DBISX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.30% | 0.45% | 10.24% | 68.20% |
| Management Fee | 0.60% | 0.00% | 1.50% | 22.12% |
| 12b-1 Fee | 0.24% | 0.00% | 1.00% | 33.33% |
| Administrative Fee | 0.10% | 0.05% | 0.70% | 42.55% |
Sales Fees
| DBISX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 5.75% | 2.50% | 5.75% | 11.11% |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| DBISX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.50% | 2.00% | 32.14% |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| DBISX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 43.00% | 1.75% | 441.00% | 21.84% |
DBISX - Distributions
Dividend Yield Analysis
| DBISX | Category Low | Category High | DBISX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 2.63% | 0.00% | 24.95% | 53.46% |
Dividend Distribution Analysis
| DBISX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annual | SemiAnnual | Annual |
Net Income Ratio Analysis
| DBISX | Category Low | Category High | DBISX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.03% | -2.01% | 13.72% | 35.02% |
Capital Gain Distribution Analysis
| DBISX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 23, 2024 | $0.070 | OrdinaryDividend |
| Mar 21, 2024 | $0.005 | OrdinaryDividend |
| Dec 21, 2023 | $0.017 | OrdinaryDividend |
| Sep 22, 2023 | $0.067 | OrdinaryDividend |
| Jun 23, 2023 | $0.067 | OrdinaryDividend |
| Mar 24, 2023 | $0.116 | OrdinaryDividend |
| Dec 22, 2022 | $0.298 | OrdinaryDividend |
| Sep 23, 2022 | $0.052 | OrdinaryDividend |
| Jun 23, 2022 | $0.041 | OrdinaryDividend |
| Mar 24, 2022 | $0.039 | OrdinaryDividend |
| Sep 23, 2021 | $0.016 | OrdinaryDividend |
| Jun 23, 2021 | $0.019 | OrdinaryDividend |
| Mar 24, 2021 | $0.026 | OrdinaryDividend |
| Dec 23, 2020 | $0.027 | OrdinaryDividend |
| Sep 23, 2020 | $0.032 | OrdinaryDividend |
| Dec 04, 2019 | $0.293 | OrdinaryDividend |
| Dec 21, 2018 | $0.127 | CapitalGainShortTerm |
| Dec 21, 2018 | $0.057 | CapitalGainLongTerm |
| Dec 21, 2018 | $0.419 | OrdinaryDividend |
| Dec 23, 2013 | $0.133 | OrdinaryDividend |
| Dec 26, 2012 | $0.165 | OrdinaryDividend |
| Dec 23, 2011 | $0.134 | OrdinaryDividend |
| Dec 23, 2010 | $0.169 | OrdinaryDividend |
| Dec 23, 2009 | $0.088 | OrdinaryDividend |
| Dec 23, 2008 | $0.223 | OrdinaryDividend |
| Dec 21, 2007 | $1.220 | CapitalGainShortTerm |
| Dec 21, 2007 | $1.622 | CapitalGainLongTerm |
| Dec 21, 2007 | $0.071 | OrdinaryDividend |
| Dec 22, 2006 | $0.529 | CapitalGainShortTerm |
| Dec 22, 2006 | $1.263 | CapitalGainLongTerm |
| Dec 22, 2006 | $0.442 | OrdinaryDividend |
| Apr 19, 2006 | $0.300 | CapitalGainShortTerm |
| Apr 19, 2006 | $0.500 | CapitalGainLongTerm |
DBISX - Fund Manager Analysis
Managers
Stefan Flasdick
Start Date
Tenure
Tenure Rank
May 08, 2017
5.07
5.1%
Stefan Flasdick, Vice President. ■ Joined DWS in 2004. Prior to his current role, he served as a portfolio manager in Deutsche Bank Private Wealth Management. Previously, he served in Futures & Options Sales for Germany & Austria at JP Morgan in London and Frankfurt. He began his career as a Trainee in Treasury and F&O Sales at BfG Bank / Credit Lyonnais.
Henning Potstada
Start Date
Tenure
Tenure Rank
May 08, 2017
5.07
5.1%
Henning Potstada, Managing Director. ■ Joined DWS in 2006. ■ Portfolio Manager for Multi Asset: Frankfurt. ■ MBA, University of Bayreuth, Germany.
Christoph-Arend Schmidt
Start Date
Tenure
Tenure Rank
May 08, 2017
5.07
5.1%
Christoph-Arend Schmidt, CFA, Vice President. ■ Joined DWS in 2008. ■ Portfolio Manager for Multi Asset: Frankfurt. ■ MBA, University of Bayreuth, Germany.
Fabian Degen
Start Date
Tenure
Tenure Rank
Mar 01, 2021
1.25
1.3%
Fabian Degen, CFA, Director. ■ Joined DWS in 2007. ■ Portfolio manager for US and Global Value Equity: New York. ■ Bachelor of International Business Administration in Investments and Finance from the International University of Applied Sciences Bad Honnef, Bonn with educational exchanges at the University of Maine (USA).
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.07 | 33.83 | 6.67 | 13.0 |
