DBEZ
Xtrackers MSCI Eurozone Hedged Equity ETF
The Xtrackers MSCI EMU Hedged Equity ETF is an exchange-traded fund incorporated in the USA. The Fund uses a passive strategy to track the MSCI EMU IMI USD Index. The Index is designed to provide exposure to the countries in the European Monetary Union, while at the same time mitigating exposure to fluctuations between the value of the U.S. dollar and the local currencies.
International
EQUITY
Rules-Based
MANAGEMENT STYLE
37.9 M
ASSETS UNDER MGMT
45 bp
EXPENSES
Fund Basics
| Fund sponsor | Deutsche Bank AG |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Dec 10, 2014 |
| Assets (mns) | $38 |
| Expense ratio | 45 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-End Investment Company |
| Distributions | Semi-Annually |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| ASML HOLDING NV | 5.9 % |
| SAP AG | 3.7 % |
| LVMH MOET HENNESSY LOUIS VUI | 3.3 % |
| TOTAL SA | 2.4 % |
| SIEMENS AG-REG | 2.3 % |
| SCHNEIDER ELECTRIC SA | 2.2 % |
| SANOFI-AVENTIS | 2.0 % |
| ALLIANZ SE-REG | 1.9 % |
| AIR LIQUIDE SA | 1.8 % |
| L'OREAL | 1.7 % |
Constituent Breakdown
| Number of holdings | 625 |
| Herfindahl-Hirschman Index | 130 |
| Wgt avg mkt cap (mns) | $101,624 |
| Large cap (>$10bn) | 89.3% |
| Mid cap ($2-10bn) | 8.7% |
| Small cap (<$2bn) | 1.7% |
| Developed mkts. | 99.9% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
FRANCE | 30.7 % |
 |
GERMANY | 25.5 % |
 |
NETHERLANDS | 15.9 % |
 |
SPAIN | 8.4 % |
 |
ITALY | 8.2 % |
 |
FINLAND | 3.1 % |
 |
BELGIUM | 2.6 % |
 |
IRELAND | 1.2 % |
 |
AUSTRIA | 1.0 % |
 |
BRITAIN | 1.0 % |
Historical Performance
Standardized Performance (as of 08/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 6.4% | 11.7% | 17.6% | 5.8% | 9.7% | -- | 7.1% | Volatility | 10.2% | 11.1% | 15.1% | 16.1% | 21.0% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.84 | 76% |
| MSCI EAFE | 0.90 | 83% |
| MSCI Emg Mkts | 0.68 | 45% |
Liquidity Measures
| Avg. volume (000) | 2 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.13% |
| ADV of underlying (mns) | $10,687 |
Technical Indicators
| Recent close | $44.64 |
| 30d moving avg. | $45.27 |
| Annualized volatility | 17.3% |
| Relative strength (RSI) | 55 |
| Short interest (ETF) | 0.0% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. DBEZ |
Expenses vs. DBEZ |
ALTAR Score™ vs. DBEZ |
|---|---|---|---|---|
| EZU | iShares MSCI Eurozone ETF | 88.7% | +7 bp | +0.0% |
| FLEU | Franklin FTSE Eurozone ETF | 86.9% | -36 bp | +0.6% |
| FEZ | SPDR EURO STOXX 50 ETF | 57.2% | -16 bp | +0.2% |
| DBEU | Xtrackers MSCI Europe Hedged Equity ETF | 49.0% | +1 bp | -0.2% |
| BBEU | JPMorgan BetaBuilders Europe ETF | 48.8% | -36 bp | +0.3% |
| HEDJ | WisdomTree Europe Hedged Equity Fund | 48.5% | +13 bp | +2.8% |
| IEV | iShares Europe ETF | 47.6% | +22 bp | -0.1% |
| FLEE | Franklin FTSE Europe ETF | 46.2% | -36 bp | +0.4% |
| IEUR | iShares Core MSCI Europe ETF | 46.0% | -34 bp | +0.3% |
| GSEU | Goldman Sachs ActiveBeta Europe Equity ETF | 45.4% | -20 bp | +0.4% |
Risk and Returns: DBEZ vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 9/6/2024
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
DBEZ
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
ALTAR Score™
DBEZ
6.5%
Cat. Avg
7.4%
ALTAR Score™ Calculation
Category Overview
There are 256 funds in the International Equity category, with an average ALTAR Score™
of 7.4% and a standard deviation of
2.7%. DBEZ's ALTAR Score™ is approximately
0.3 standard deviations
below
the category average. This places DBEZ in the 38th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
DBEZSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based International Equity ETFs |
| # of ETFs | 152 |
| Avg. Expense Ratio | 42.9 bp |
| Std. Deviation | 24.3 bp |
| DBEZ (45 bp) Percentile rank | 54 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| DBEZ | 45.0 | 12.7 | 57.7 |
| Peer Avg. | 42.2 | 29.2 | 71.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .