MARKETING MATERIAL FOR PROFESSIONAL INVESTORS ONLY (as defined in MiFID Directive 2004/39/EC Annex II)
db x-trackers S&P 500 2x Inverse Daily UCITS ETF
a sub fund of db x-trackers.
Xtrackers ETFs - Deutsche AM Exchange Traded Funds
Xtrackers is Deutsche Asset Management's exchange-traded funds (ETF) division. ETFs are regulated, open-ended investment funds that
trade on stock exchanges just like any other listed, tradable security. They combine in a single, easy to use product the key intraday trading
and liquidity elements of stocks with the diversification offered by an index fund. Since launch in 2007 db X-trackers has grown rapidly. It
now has around GBP 50.69 bn in assets under management (as of May, 2017) across more than 200 products, making db X-trackers the
second largest ETF provider in Europe and amongst the top providers globally.
Key Risks
Fund information
Fund name
db x-trackers S&P 500 2x Inverse Daily UCITS ETF
ISIN
LU0411078636
UCITS IV compliant
Yes
Share class currency
USD
Investment Methodology
Indirect Replication*
Portfolio Structure
Substitute Basket + Swap
Fund launch date
18 March 2010
Share class launch date
18 March 2010
All-in fee¹
0.70% p.a.
Financial year end
31 December
Income treatment
Reinvestment
NAV per Share
USD 2.62 (31 May 2017)
USD 91,899,958 (31 May 2017)
Total Fund Assets
—The Fund is not guaranteed and your investment is at risk. The value of
your investment may go down as well as up.
—The value of an investment in shares will depend on a number of factors
including, but not limited to, market and economic conditions, sector,
geographical region and political events.
—The Fund is exposed to stock market movements in a single country
or region which may be adversely affected by political or economic
developments, government action or natural events that do not affect a
fund investing in broader markets.
—The Fund will enter into a derivative with a counterparty (initially Deutsche
Bank). If the counterparty fails to make payments (for example, it
becomes insolvent) this may result in your investment suffering a loss.
—The Index is constructed to track the performance of an increased
(leveraged) negative (known as short) exposure to the Underlying Index,
meaning that the level of the Index should rise when the Underlying
Index falls and fall when the Underlying Index rises. The Index is designed
to do this on a daily basis only which should not be equated with seeking
a leveraged position for periods longer than a day. The performance of the
Fund over periods longer than one day may not be inversely proportional
or symmetrical with the returns of the Underlying Index.
*ETF enters a swap agreement with an investment bank whereby the bank provides the ETF with the
returns of the index adjusted to reflect certain index replication costs or enhancements.
¹ Please see page 2 in this document for more details of All-in fee
Historical Performance S&P 500 2x Inverse Daily UCITS ETF
USD
Historical Performance Figures as of 31 May 2017
50
5/12 5/13
5/13 5/14
5/14 5/15
5/15 5/16
5/16 5/17
Since ETF
launch
S&P 500 2x Inverse
Daily Index
-40.88% -33.41% -23.01% -10.40% -28.22% -89.02%
S&P 500 2x Inverse
Daily UCITS ETF
-41.99% -34.64% -24.37% -12.04% -29.68% -90.42%
Source: Deutsche Bank AG, 31 May 2017
Past performance is not a reliable indicator of future results. Performance shown above is net of fund fees and any
index replication costs.
ETF performance calculation includes reinvested dividends. Index performance calculated on a total return basis.
40
30
20
10
0
Date
May10
May11
May12
May13
May14
May15
May16
May17
db X-tracker ETFs — Simply buy the market
Source: Deutsche Bank AG, 31 May 2017
Past performance is not a reliable indicator of future results. Performance shown above is net of fund fees and any
index replication costs.
ETF performance calculation includes reinvested dividends.
S&P 500 2x Inverse Daily Index
The S&P 500 2x Inverse Daily Index is an index that is linked 2 times inversely to the daily performance of the blue-chip index S&P 500 Index. Any movement of the S&P
500 Index between each consecutive index calculation date will result in double the inverse movement on the Index plus three times the interest (based on the Overnight
USD LIBOR rate) which has accrued over such period representing the notional short position; this is the case for both rising and falling prices. The Index replicates 2 times
the performance of an investment with a short position in the S&P 500 Index that is rebalanced daily. On a daily basis, the performance of the Index is 2 times the negative
performance of the S&P 500, plus
a prorated portion of interest, based on 3 times the Overnight USD LIBOR rate.
The S&P 500 Index includes leading companies in leading industries of the U.S. economy. S&P 500 Index is a core component of the U.S. indices that could be used as
building blocks for portfolio construction.
Listing and trading information
Exchange
NSIN
Exchange Code (local)
Trading Currency
Trading Hours (Local Time) Settlement
Bloomberg Ticker
Reuters RIC
Xetra
DBX0B6
DBPK
EUR
09:00 - 17:30
t+2
DBPK GY
DBPK.DE
London Stock Exchange
B3PR9N2
XT2D
USD
08:00 - 16:30
t+2
XT2D LN
XT2D.L
Italian Stock Exchange
-
XT21
EUR
09:00 - 17:30
t+2
XT21 IM
XT21.MI
MARKETING MATERIAL FOR PROFESSIONAL INVESTORS ONLY (as defined in MiFID Directive 2004/39/EC Annex II)
Index information
Historical Performance S&P 500 2x Inverse Daily Index
Index Type
Total Return Gross
Number of Index constituents
505
Countries in Index
8
Dividend Yield*
1.97%
PE Ratio*
21.41
Market Capitalisation*
USD 20,705.48 Billion
Index Reuters RIC
.SPXT2IUT
Index Bloomberg ticker
SPXT2IUT
Points
1,200
900
600
Source: Deutsche Bank AG, 31 May 2017, * as of 31 May 2017
300
0
Date
May03
May05
May07
May09
May11
May13
May15
May17
Source: Bloomberg L.P., 31 May 2017
Past performance is not a reliable indicator of future results. Performance shown above is net of fund fees
and any index replication costs.
Sector weightings of the index
Country allocation of the index
97.13%
0.97%
0.69%
0.52%
0.47%
0.13%
0.07%
0.02%
United States
Ireland
Switzerland
United Kingdom
Singapore
Netherlands
Bermuda Islands
Ukraine
Information Technology
Financials
Health Care
Consumer Discretionary
Industrials
Consumer Staples
Energy
Utilities
Real Estate
Materials
Telecommunication Services
Source: Deutsche Bank AG, 31 May 2017
Source: Deutsche Bank AG, 31 May 2017
Top 10 index constituents
APPLE ORD
3.89%
MICROSOFT-T ORD
2.61%
Amazon.com Inc
1.90%
Facebook Inc COM A USD 0.000006
1.73%
JOHNSON&JOHNSON ORD
1.66%
EXXON ORD
1.63%
BERKSHIRE HATHWAY CL B ORD
1.52%
JPMORGAN CHASE ORD
1.47%
Alphabet Inc A
1.42%
Alphabet Inc
1.38%
Source: Deutsche Bank AG, 31 May 2017
23.13%
13.91%
13.83%
12.42%
10.14%
9.38%
6.09%
3.23%
2.90%
2.80%
2.17%
Registrations for public distribution
Austria
Ireland
Denmark
Italy
Finland
Luxembourg
France
Netherlands
Germany
Norway
Spain
Sweden
United Kingdom
Further information on db X-trackers ETFs
Deutsche Asset Management
Info: etf.deutscheam.com
Mainzer Landstrasse 11-17
E-Mail: [email protected]
60329 Frankfurt am Main
Reuters: DBETF
Hotline: +49 69 910 30549
Fax: +49 69 910 41276
db X-tracker ETFs — Simply buy the market
Footnotes
Investors should note that the All-In Fee does not cover any OTC Swap Transaction Costs, which are embedded in the OTC Swap Transaction of the ETF.
OTC Swap Transaction Costs are index replication costs incurred by the Swap Counterparty and may impact the performance of the ETF negatively relative to the underlying index.
Index replication costs can be broken down into various categories depending on the nature of the underlying index (long, short or leveraged). A detailed description of each scenario is available in the Prospectus under the
heading "Investment Objectives and Policies - Sub-Funds with an Indirect Investment Policy".
Investors can access www.etf.db.com for information regarding the applicable scenario and an indication for the latest OTC Swap Transaction Costs.
Disclaimer
© Deutsche Bank 2017. All information as of 31 May 2017.
Investments in funds involve numerous risks including, among others, general market risks, credit risks, foreign exchange risks, interest rate risks and liquidity risks.
Key risk factors to consider before investing:
- The value of an investment in a Deutsche Bank fund may go down as well as up and can result in losses, up and including a total loss of the amount initially invested.
- Past performance is not a reliable indicator of future results.
- Movements in exchange rates can impact the value of your investment. If the currency of your country of residence is different from the currency in which the underlying investments of the fund are made, the value of your
investment may increase or decrease subject to movements in exchange rates.
Other important information
db x-trackers is registered with the Luxembourg Trade and Companies’ Register under number B 119 899, with its registered office at 49, avenue J.F.Kennedy, L-1855 Luxembourg, and is registered in Luxembourg as an
undertaking for collective investment pursuant to Part I of the law of 17 December 2010 and therefore qualifies as a UCITS under all relevant laws and regulations. Deutsche Asset Management S.A. acts as the management
company. Investors should be aware that DB may from time to time own interests in the Fund which may represent a significant amount or proportion of the overall investor holdings in the Fund. Investors should consider
what possible impact such holdings, or any disposal thereof, by DB may have on them.
This document does not create any legally binding obligations on the part of Deutsche Bank AG and/or its affiliates. Without limitation, this document does not constitute investment advice and does not constitute an offer or
recommendation to enter into any transaction. It is not intended for distribution or use by any person or entity who is a citizen or resident of or located in any jurisdiction where such distribution, publication or use would be
prohibited. For more information on the Fund please refer to the relevant Fund’s full prospectus in English and to the relevant Key Investor Information Document in English, all available on request or on www.dbxtrackers.
com
The information contained in this document is believed to be correct, complete and accurate and every effort has been made to represent accurate information. However, no representation or warranty, expressed or implied,
is made as to the accuracy, completeness or correctness of the information contained in this document. Deutsche Bank assumes no responsibility or liability for any errors or omissions with respect to this information. The
information contained in this document is provided for information purposes only. In the case of any inconsistency with the relevant prospectus of a product, the latest version of the prospectus shall prevail. Issued in the UK
by DB AG London Branch. DB is authorised under German Banking Law (competent authority: BaFin – Federal Financial Supervising Authority) and DB AG London Branch is regulated by the Financial Conduct Authority for
the conduct of UK business.
Index Disclaimer
The index sponsors of the indices referred to herein (including Deutsche Bank AG) make no warranty or representation whatsoever either as to the results obtained from use of the indices and/or the figures at which the said
indices stand at any particular day or otherwise. These index sponsors shall not be liable to any person for any error in their indices and shall not be under any obligation to advise any person of any error therein.