Deutsche X-Trackers Lowers Expense Ratios across Its China ETF Suite

Deutsche Asset Management (Deutsche AM) announced that, effective today, it will reduce the net expense ratios for four of its Deutsche X-trackers exchange traded funds (ETFs):

ETFTickerCurrent Net

Expense Ratio

New Net

Expense Ratio

Deutsche X-trackers Harvest CSI 300 China A-Shares ETF ASHR 0.80% 0.65%
Deutsche X-trackers CSI 300 China A-Shares Hedged Equity ETF ASHX 0.85% 0.70%*
Deutsche X-trackers Harvest CSI 500 China-A Shares Small Cap ETF ASHS 0.80% 0.65%
Deutsche X-trackers MSCI All China Equity ETF CN 0.71% 0.63%*

“Delivering distinctive, relevant and cost-effective solutions to our clients has always been a top priority for our business,” said Fiona Bassett, Head of Passive Strategy for the Americas. “Our Deutsche X-trackers China ETF suite of funds seeks to provide investors with the most comprehensive ETF exposure to the Chinese securities market. As a first to offer an ETF that provides broad access to the Chinese equity market, Deutsche X-trackers remains committed to offering our clients innovative products for their international investing needs.”

Through the Deutsche X-trackers platform and with the launch of ASHR in November 2013, Deutsche AM has been providing investors access to the Chinese securities market, in which foreign investment has historically been limited. ASHR has contributed greatly to the platform’s success by allowing investors in the US and elsewhere to directly access securities tracked by the CSI 300 Index, a recognized Chinese benchmark. In addition, CN was the second Deutsche X-trackers ETF to provide US investors with access to Chinese securities and the first US-listed ETF to provide investors with broad exposure to onshore and offshore Chinese equities through a single ETF when it launched in early 2014.

To find out more about the ETFs available in the US, visit:

The reduced net expense ratio for each of ASHR, ASHS and ASHX is directly due to the contractual reduction in their respective unitary management fees. The net expense ratio for each of ASHX (to the extent it invests in AHSR) and CN (to the extent it invests in ASHR and ASHS) is also reduced because ASHX and CN will benefit from the reduced unitary management fees of their respective underlying funds.

Deutsche Asset Management

With EUR 719 billion of assets under management (as of June 30, 2016), Deutsche Asset Management1 is one of the world’s leading investment management organizations. Deutsche Asset Management offers individuals and institutions traditional and alternative investments across all major asset classes.

© 2016 Deutsche Asset Management. All rights reserved.

Consider each Fund’s investment objectives, risk factors, and charges and expenses before investing. This and other important information can be found in the Fund’s prospectus, which may be obtained by calling 1-855-DBX-ETFS (1-855-329-3837) or by viewing or downloading a prospectus at Please read it carefully before investing.

DBX Advisors LLC is the investment adviser to the Deutsche X-trackers Funds. Deutsche X-trackers Funds are distributed by ALPS Distributors, Inc. ALPS Distributors, Inc. is not affiliated with DBX Advisors or FTSE Russell.

Investing involves risk, including possible loss of principal. Stocks may decline in value. Bond Investing involves risk, including possible loss of principal. Stocks may decline in value. Bond investments are subject to interest-rate, credit, liquidity and market risks to varying degrees. When interest rates rise, bond prices generally fall. Foreign investing involves greater and different risks than investing in US companies, including currency fluctuations, less liquidity, less developed or less efficient trading markets, lack of comprehensive company information, political instability and differing auditing and legal standards. Emerging markets tend to be more volatile and less liquid than the markets of more mature economies, and generally have less diverse and less mature economic structures and less stable political systems than those of developed countries. Funds investing in a single industry, country or in a limited geographic region generally are more volatile than more diversified funds. Uncertainties in the Chinese tax rules governing taxation of income and gains from investments in A-shares could result in unexpected tax liabilities for the Fund which may reduce Fund returns. Any reduction or elimination of access to A-shares will have a material adverse effect on the ability of the fund to achieve its investment objective. Special risks associated with investments in Chinese companies include exposure to currency fluctuations, less liquidity, less developed or less efficient trading markets, lack of comprehensive company information, political instability and differing auditing and legal standards the nature and extent of intervention by the Chinese government in the Chinese securities markets, and the potential unavailability of A shares. Additionally, ASHX’s use of forward currency contracts may not be successful in hedging currency exchange rates changes and could eliminate some or all of the benefit of an increase in the value of a foreign currency vs. the U.S. dollar. ASHX aims to hedge the currency exposure by entering into forward transactions linked to the CNH/USD exchange rate. The equity shares included in the CSI 300 index (ASHX’s underlying index) may be valued using the CNY/USD exchange rate. The difference between the CNH/USD and CNY/USD exchange rates may lead to tracking error in ASHX. Performance of a Fund may diverge from that of an Underlying Index due to operating expenses, transaction costs, cash flows, use of sampling strategies or operational inefficiencies. There are additional risks associated with investing in high-yield bonds, aggressive growth stocks, non-diversified/concentrated funds and small- and mid-cap stocks which are more fully explained in the prospectuses, as applicable. An investment in any Fund should be considered only as a supplement to a complete investment program for those investors willing to accept the risks associated with that fund. Please read the prospectus for more information.

* ASHX’s Gross Expense Ratio is 1.35% and CN’s Gross Expense Ratio is 0.97%, however the Adviser has contractually agreed, until October 1, 2018, to waive its management fee and/or reimburse fund expenses in an amount equal to each fund’s management fee attributable to the fund’s assets invested in any affiliated fund.

No bank guarantee | Not FDIC insured | May lose value DBX002195 08.01.2017

1 Deutsche Asset Management is the brand name of the Asset Management division of the Deutsche Bank Group. The respective legal entities offering products or services under the Deutsche Asset Management brand are specified in the respective contracts, sales materials and other product information documents.


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