Xtrackers by DWS Repositions Equity ETF to Provide Access to Large U.S. Companies with Reduced Dependence on Big Tech

NEW YORK–(BUSINESS WIRE)–DWS, a leading European asset manager with global reach, today announced the repositioning and renaming of one of its equity ETFs: The Xtrackers S&P 500 Value Scored & Screened ETF has become the Xtrackers S&P 100 Ex Top 20 ETF (CBOE: XOEX) (the “Fund”). As part of its repositioning, the Fund has changed its underlying index and now tracks the S&P 100 Ex-Top 20 Select Index.

The S&P 100 Ex-Top 20 Select Index is designed to measure the capped market capitalization weighted performance of companies in the S&P 100, excluding the largest 20 companies ranked by float-adjusted market capitalization. The exclusion of the top 20 companies results in a “Next 80” exposure that remains rooted in large-cap, blue-chip stocks from a diverse range of industries.

“The S&P 100 Ex Top 20 ETF is particularly attractive to investors who want to improve their diversification, seek alternative sources of return outside of big tech, and prefer a more balanced risk/return profile,” said Salvador Gomez, Head of Sales Xtrackers Americas. “Those who already hold large tech positions—for example, via Nasdaq ETFs, S&P 500 ETFs, or individual tech stocks—can use XOEX to deliberately deconcentrate their portfolios without having to forego U.S. large-caps.”

“At Xtrackers, we aim to provide investors innovative investment solutions that are clear and effective,” said Henry Wu, Head of Xtrackers Products U.S. “While the top mega-cap names often remain at the front and center of media attention, the remaining U.S. mega and large-cap companies offer a meaningful representation of the long-term mega and large-cap US equity landscape via a more balanced sector profile.”

“The S&P 100 Ex-Top 20 Select Index is designed to measure the performance of a defined segment of the U.S. large-cap equity market by applying exclusions within the S&P 100 universe,” said Hamish Preston, Head of U.S. Equities at S&P Dow Jones Indices. “The index is calculated and maintained in accordance with S&P Dow Jones Indices’ established methodologies and governance standards, providing market participants with an additional benchmark to analyze equity market composition and concentration.”

Key Features and Potential Uses of XOEX

• U.S. large-cap exposure with reduced dependence on mega-caps
• Underlying index is reconstituted annually and reweighted quarterly
• XEOX can be paired with traditional S&P 500 and S&P 100 strategies to adjust how much of an overall portfolio is in the largest 20 names vs. the rest of the large-cap universe
• XOEX can help mitigate sector skew for investors uncomfortable with tech concentration
• XOEX can be used tactically when investors expect market leadership to extend beyond the largest U.S. stocks 

Effective December 19, 2025, the Fund is available for trading on CBOE. It is priced with a competitive net/gross expense ratio of 0.15%.

To learn more about Xtrackers ETFs available in the U.S., please visit https://etf.dws.com/en-us/etf-products.

Xtrackers U.S., Global Product Suite, and AuM Update

Globally, Xtrackers by DWS is a large and established provider of high-quality exchange traded funds (ETFs) and exchange traded commodities (ETCs). Providing efficient “passive” exposure to diversified indices or to single commodities, Xtrackers ETFs and ETCs provide a comprehensive set of dependable investment tools for effective portfolio allocation.

The Xtrackers U.S. product suite currently comprises 43 ETFs and, as of December 31, 2025, approximately USD 29 billion in assets under management. Xtrackers globally now consists of over 270 UCITS ETFs as of December 31, 2025, with approximately EUR 286 billion in assets under management.

About DWS Group

DWS Group (DWS), with EUR 1,085bn of total assets under management (as of 31 December 2025), is a leading European asset manager with global reach. With approximately 5,000 employees in offices around the world, DWS offers individuals, institutions and large corporations access to comprehensive investment solutions and bespoke portfolios across the full spectrum of investment disciplines. Its diverse expertise in Active, Passive and Alternative asset management enables DWS to deliver targeted solutions for clients across all major liquid and illiquid asset classes. www.dws.com

Risk Disclosure

Investing involves risk, including the possible loss of principal. Stocks may decline in value. Returns on investments in securities of large companies could trail the returns on investments in securities of smaller and mid-sized companies. An investment in the Fund should be considered only as a supplement to a complete investment program for those investors willing to accept the risks associated with the Fund. Please read the prospectus for more information.

IMPORTANT INFORMATION

ETF shares are not individually redeemable, and owners of shares may acquire those shares from the Fund or tender such shares for the redemption to the Fund in Creation Units only.

Consider the Fund’s investment objective, 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 1-844-851-4255 or by viewing or downloading a prospectus at www.Xtrackers.com. Please read it carefully before investing.

The brand Xtrackers represents all systematic investment solutions. Xtrackers ETFs in the U.S. are managed by DBX Advisors LLC (the “Advisor”) and distributed by ALPS Distributors, Inc. (“ALPS”). The Advisor is a wholly owned subsidiary of DWS Group GmbH & Co. KGaA and is not affiliated with ALPS.

Because ETFs trade on a securities exchange, their shares may trade at a premium or discount to their net asset value. ETFs also incur fees and expenses so they may not fully match the performance of the indexes they are designed to track. Investing involves risk, including the possible loss of principal. Stocks may decline in value. An investment in the Fund should be considered only as a supplement to a complete investment program for those investors willing to accept the risks associated with the Fund.

Past performance is no guarantee of future results.

War, terrorism, sanctions, economic uncertainty, trade disputes, public health crises and related geopolitical events have led, and, in the future, may lead to significant disruptions in U.S. and world economies and markets, which may lead to increased market volatility and may have significant adverse effects on the Fund and its investments.

This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

Certain statements contained in this release may be forward-looking in nature. These include all statements relating to plans, expectations, and other statements that are not historical facts and typically use words like “expect,” “anticipate,” “believe,” “intend,” and similar expressions. Such statements represent management’s current beliefs, based upon information available at the time the statements are made, with regards to the matters addressed. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Management does not undertake any obligation to update or revise any forward-looking statements, whether, as a result of new information, future events, or otherwise. The following factors, among others, could cause actual results to differ materially from forward-looking statements: (i) the effects of adverse changes in market and economic conditions; (ii) legal and regulatory developments; and (iii) other additional risks and uncertainties, including public health crises, war, terrorism, trade disputes and related geopolitical events.

NOT FDIC/ NCUA INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

The brand DWS represents DWS Group GmbH & Co. KGaA and any of its subsidiaries such as DWS Distributors, Inc., which offers investment products, or DWS Investment Management Americas, Inc., and RREEF America L.L.C., which offer advisory services.

The S&P 100 Ex-Top 20 Select Index is a product of S&P Dow Jones Indices LLC or its affiliates (“S&P DJI”). S&P®, S&P 500®, S&P 100, SPX®, SPY®, US 500, The 500®, iBoxx®, iTraxx® and CDX® are trademarks of S&P Global, Inc. or its affiliates (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”). The Xtrackers S&P 100 Ex Top 20 ETF (XOEX), which tracks the S&P 100 Ex-Top 20 Select Index, is not sponsored or sold by S&P DJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such ETF, nor do they have any liability for any errors, omissions, or interruptions of the S&P 100 Ex-Top 20 Select Index.

Copyright © 2026 DWS Group GmbH & Co. KGaA. All rights reserved.

108992-1 (02/27) / DBX007147 (02/27)

Contacts

Media contacts:
Audrey Richie
audrey.richie@dws.com
(212) 454-8509

Christian Gubler
christian.gubler@dws.com
(212) 454-8507