Xtrackers Comprehensive Factor ETFs

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1 Exchange-Traded Funds Xtrackers Comprehensive ETFs Enhance the core with multi-factor exposure What are factors? Think of factors as the nutritional make-up of a stock, characteristics that describe each stock s risks and returns. Within our multi-factor strategies, we consider five main factors that have been used in the industry for years: Value, quality, momentum, low volatility and size. Why factors are relevant ETF strategies provide a simple, transparent, and cost-efficient way to potentially generate excess returns. Combining factors, in particular, can provide a more holistic approach to investing, potentially enabling investors to weather various and unpredictable economic environments. Investing with Xtrackers Our unique methodology evaluates every stock from the bottom up, seeking those proficient in all five factor scores for inclusion. Our strategy has both factors and stocks working together to form what we believe is the most effective access to core equity markets. U.S. large cap: DEUS I U.S. small cap: DESC I Developed international: DEEF I Emerging markets: DEMG s Academic concepts FTSE Russell implementation Value Quality Momentum Volatility Size Cheaper equities are thought to outperform expensive equities over the long term 1 The quality of a company s earnings may actually be a better gauge of future earnings performance 2 Relatively recent price movements-over-time, can be a potential indicator of future stock price performance 4 Portfolios with less volatility and/or low beta can offer higher-than-average return and smaller drawdowns 5 Historical long-term studies show long-term outperformance of small-cap stocks over large-cap stocks 6 Composite measure of cash-flow yield, earnings yield and sales-to-price of each company Composite measure of each company s profitability, efficiency, earnings quality and leverage 3 11-month cumulative total returns of each stock Standard deviation of five years of weekly total local returns for each stock Each company s full market capitalization in U.S. dollars Our unique ing methodology: Simple and transparent The FTSE Russell methodology scores each stock based on all five factors, simply multiplying each factor score by the stock s starting benchmark. As a result, we keep the stocks with the strongest overall factor scores, weeding out any weak links. Stock example Market-cap Weight Quality Momentum Value Size Low Vol Unadjusted Weight Final Index Weight 1 Extreme examples 0 Symantec 0.07% x 0.82 x 0.91 x 0.73 x 0.36 x 0.59 = 0.008% 0.84% Kellogg 0.08% x 0.38 x 0.35 x 0.39 x 0.21 x 0.90 = 0.001% 0.08% Netflix 0.22% x 0.05 x 0.24 x 0.08 x 0.08 x 0.00 = 0.000% 0.00% Example stocks chosen from the Russell 1000 index universe. Unadjusted s are rescaled to add up to 1. All s are based on the actual FTSE Russell scores as of 12/19/16. Subject to change. As of 9/30/17, the stocks had the following s in the Russell 1000 Comprehensive Index: Symantec. (technology), 0.00%; Kellogg (consumer staples), 0.04%; Netflix (consumer services), 0.00%. The stocks do not appear in DESC, DEEF or DEMG. For illustrative purposes only.

2 Xtrackers Russell 1000 Comprehensive ETF (DEUS) Russell 1000 Comprehensive Ticker DEUS Index Benchmark Russell 1000 Index Xtrackers Inception date 9/28/15 Russell 1000 Comprehensive Number of constituents 824* ETF Weighted average market cap $26,510 million Listing date 11/24/15 Dividend yield 1.83% Management fee % Sector breakdown Russell 1000 Comprehensive Index 15.22% 10.67% 10.24% 8.05% 5.69% 4.45% 0.88% 0.33% 23.51% 20.98% 0% 5% 10% 15% 20% 25% 30% Benchmark: Russell 1000 Index 13.01% 12.64% 12.62% 9.28% 5.85% 3.13% 2.56% 2.09% 20.04% 18.77% 0% 5% 10% 15% 20% 25% Russell 1000 Comprehensive Index Benchmark: Russell 1000 Index Market-cap Market-cap Baxter 0.98% 0.13% Apple 0.10% 3.35% Corning 0.78% 0.11% Microsoft 0.04% 2.33% Lear 0.75% 0.05% Amazon 0.01% 1.59% Everest Re 0.72% 0.04% Johnson & Johnson 0.03% 1.46% NVR Inc. 0.63% 0.04% Facebook Class A 0.00% 1.66% NetApp 0.60% 0.05% Exxon Mobil 0.01% 1.45% Ebay 0.60% 0.16% Berkshire Hathaway 0.06% 1.47% Delphi automotive 0.58% 0.10% JPMorgan Chase 0.01% 1.41% Equity Residential 0.57% 0.02% Alphabet Class A 0.02% 1.21% Progressive 0.57% 0.12% Alphabet Class C 0.02% 1.21% Total 6.78% Total 17.14% *Stocks with low factor scores may be removed from the index, resulting in a total of less than 1000 constituents. Xtrackers Comprehensive ETFs 2

3 Xtrackers Russell 2000 Comprehensive ETF (DESC) Russell 2000 Comprehensive Ticker DESC Index Benchmark Russell 2000 Index Xtrackers Inception date 6/22/16 Russell 2000 Comprehensive Number of constituents 1,514* ETF Weighted average market cap $1,138 million Listing date 6/28/16 Dividend yield 1.50% Management fee 0.30% Sector breakdown Russell 2000 Comprehensive Index 36.31% 23.89% 12.21% 8.73% 5.61% 5.45% 3.54% 1.62% 1.57% 1.07% 0% 10% 20% 30% 40% 50% Benchmark: Russell 2000 Index 17.86% 14.52% 12.70% 11.08% 6.46% 4.10% 3.44% 3.37% 0.80% 25.68% 0% 5% 10% 15% 20% 25% 30% 35% Russell 2000 Comprehensive Index Market-cap Benchmark: Russell 2000 Index factor Market-cap Argan 0.41% 0.05% Kite Pharma 0.00% 0.43% Bob Evans Farms 0.40% 0.07% Gramercy Property Trust 0.02% 0.22% Hooker Furniture 0.35% 0.03% Catalent 0.04% 0.24% Walker & Dunlop 0.33% 0.07% Medidata Solutions 0.01% 0.21% Wabash National 0.32% 0.06% PAREXEL International 0.07% 0.22% Sanfilipp & Son 0.31% 0.03% Healthsouth 0.06% 0.22% NMI 0.31% 0.03% Idacorp 0.03% 0.22% Benchmark Elect 0.30% 0.08% Bluebird Bio 0.00% 0.31% Kimball Intl B 0.29% 0.04% Fair Isaac 0.02% 0.21% Haverty furniture 0.28% 0.02% WGL 0.03% 0.21% Total 3.30% Total 2.49% *Stocks with low factor scores may be removed from the index, resulting in a total of less than 2000 constituents. Xtrackers Comprehensive ETFs 3

4 Xtrackers FTSE Developed ex U.S. Comprehensive ETF (DEEF) FTSE Developed ex U.S. Ticker DEEF Comprehensive Index Benchmark FTSE Developed ex U.S. Index Xtrackers Inception date 9/28/15 FTSE Developed ex U.S. Number of constituents 1,250 Comprehensive ETF Weighted average market cap $12,004 million Listing date 11/24/15 Dividend yield 2.70% Management fee 0.35% Sector & country breakdowns FTSE Developed ex U.S. Comprehensive Index Sector 5.60% 3.39% 3.28% 2.60% 2.28% 23.50% 19.34% 15.15% 13.88% 10.99% 0% 5% 10% 15% 20% 25% 30% Benchmark: FTSE Developed ex U.S. Index 25.56% 18.42% 15.16% 8.71% 7.68% 7.42% 6.02% 4.02% 3.69% 3.31% 0% 5% 10% 15% 20% 25% 30% 35% Country Others 16.74% South Korea 3.47% Hong Kong 3.64% Switzerland 4.16% Canada 5.12% Germany 5.20% Japan 28.87% United Kingdom 12.28% Australia 8.87% France 6.41% Sweden 5.24% Others 14.25% Netherlands 2.98% Hong Kong 3.31% South Korea 4.33% Australia 6.07% Switzerland 7.19% Japan 21.38% United Kingdom 15.75% France 8.82% Germany 8.33% Canada 7.58% FTSE Developed ex U.S. Comprehensive Index Market-cap Benchmark index: FTSE Developed ex U.S. Index Market-cap 3i 1.13% 0.07% Nestle 0.01% 1.53% Investor B Free 0.69% 0.13% Samsung Electronics 0.01% 1.26% SCA B 0.59% 0.03% Novartis 0.01% 1.18% Adecco 0.58% 0.07% HSBC 0.00% 1.16% Magna International 0.56% 0.11% Roche 0.01% 1.04% Dexus 0.56% 0.04% Toyota Motor 0.01% 0.93% Michelin B 0.54% 0.15% British American Tobacco 0.01% 0.84% Link Real Estate Investment 0.54% 0.10% Royal Dutch Shell A 0.00% 0.80% Industrivarden AB Ser A 0.53% 0.03% BP 0.01% 0.73% Kuraray 0.52% 0.04% Total 0.03% 0.69% Total 6.24% 10.16% Xtrackers Comprehensive ETFs 4

5 Xtrackers FTSE Emerging Comprehensive ETF (DEMG) FTSE Emerging Comprehensive Index Benchmark FTSE Emerging Index Xtrackers FTSE Emerging Inception date 9/28/15 Comprehensive ETF Number of constituents 878 Weighted average market cap $4,496 million Listing date 4/19/16 Dividend yield 3.48% Management fee 0.50% Ticker DEMG Sector & country breakdowns FTSE Emerging Comprehensive Index Sector 19.83% 16.80% 13.82% 10.12% 9.07% 8.86% 8.77% 6.39% 4.13% 2.22% 0% 5% 10% 15% 20% 25% Benchmark: FTSE Emerging Index 30.58% 14.32% 9.82% 9.23% 9.22% 8.04% 7.19% 5.88% 3.48% 2.24% 0% 5% 10% 15% 20% 25% 30% 35% 40% Country Others 17.81% Thailand 3.91% Poland 4.35% Mexico 4.58% Russia 4.74% Malaysia 4.87% India 7.27% China 18.72% Taiwan 15.42% South Africa 10.57% Brazil 7.76% Others 10.17% Indonesia 2.50% Malaysia 3.27% Thailand 3.62% Mexico 4.38% Russia 4.39% China 28.81% Taiwan 13.68% India 11.67% Brazil 9.41% South Africa 8.10% FTSE Emerging Comprehensive Index market-cap Benchmark: FTSE Emerging Index market-cap Kingboard Chemical 1.06% 0.09% Tencent 0.01% 5.47% Polski Koncern Naftowy 0.96% 0.25% Taiwan Semiconductor Manufacturing 0.06% 4.08% China Shenhua Energy 0.93% 0.19% Naspers 0.01% 2.19% Itausa PN 0.91% 0.32% China Construction Bank 0.01% 1.77% Barloworld 0.91% 0.05% Hon Hai Precision Industry 0.19% 1.23% Wistron Corp 0.87% 0.05% China Mobile (Red Chip) 0.01% 1.28% Pegatron 0.85% 0.12% Industrial and Commercial 0.06% 1.38% Bank of China China Petroleum & Chemical 0.79% 0.46% Housing Development Finance 0.05% 1.01% Tatneft 0.74% 0.25% Alibaba Group 0.01% 1.11% MOL 0.73% 0.12% Itau Unibanco 0.14% 1.02% Total 8.77% Total 20.53% Xtrackers Comprehensive ETFs 5

6 1 The cross-section of expected stock returns, Eugene F. Fama and Kenneth R. French, June Do stock prices fully reflect information in accruals and cash flows about future earnings? Sloan, Excludes financial stocks, for which return-on-assets is the sole measure of quality 4 Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency, Jegadeesh and Sheridan Titman, March Benchmarks as Limits to Arbitrage: Understanding the low-volatility anomaly, Malcolm Baker, Brendan Bradley and Jeffrey Wurgler. Feb The Relationship between Return and Market Value of Common Stocks, Rolf W. Banz, March Expense ratio listed are net. Expense information in the table represents current fees as of 3/9/17. The advisor has agreed, until 3/9/18, to waive a portion of its management fees to the extent necessary to prevent the operating expenses from exceeding 0.19% of the Fund s average daily net assets. Without such waivers, the fund s operating expenses would have been higher. Xtrackers FTSE Developed ex US Comprehensive ETF seeks investment results that correspond generally to the performance, before fees and expenses, of the FTSE Developed ex U.S. Comprehensive Index. Xtrackers FTSE Emerging Comprehensive ETF seeks investment results that correspond generally to the performance, before fees and expenses, of the FTSE Emerging Comprehensive Index. Xtrackers Russell 1000 Comprehensive ETF seeks investment results that correspond generally to the performance, before fees and expenses, of the Russell 1000 Comprehensive Index. Xtrackers Russell 2000 Comprehensive ETF seeks investment results that correspond generally to the performance, before fees and expenses, of the Russell 2000 Comprehensive Index. The price/earnings ratio or P/E ratio is a stock s current price divided by the company s trailing 12-month earnings per share from continuous operations. Beta measures a security s sensitivity to the movements of the fund s benchmark or the market as a whole. A beta of greater than one indicates more volatility than the benchmark or market, while a beta of less than one indicates less volatility. Market capitalization is the total dollar market value of a company s outstanding shares. The Russell 1000 Comprehensive Index is a benchmark designed to capture exposure to five factors Quality, Value, momentum, Low Volatility and Size. These factors represent common factor characteristics for which there is a broad academic and practitioner consensus, supported by a body of empirical evidence across different geographies and time periods. The Russell 1000 Index measures the performance of the large-cap segment of the U.S. equity universe. It is a subset of the Russell 3000 Index and includes approximately 1000 of the largest securities based on a combination of their market cap and current index membership. The Russell 1000 represents approximately 92% of the U.S. market. Nothing contained herein is fiduciary or impartial investment advice that is individualized or directed to any plan, plan participant, or IRA owner regarding the advisability of any investment transaction, including any IRA distribution or rollover. Investing involves risk, including possible loss of principal. Stocks may decline in value. Small company stocks tend to be more volatile than medium-sized or large company stocks. Foreign investing involves greater and different risks than investing in U.S. 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 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. Because the funds seeks to provide exposure to stocks based on the following multifactors value, momentum, quality, low volatility and size it is expected exposure to such investment factors will detract from performance in some market environments, as more fully explained in each fund s prospectus. Performance of a Fund may diverge from that of the Underlying Index due to operating expenses, transaction costs, cash flows, use of sampling strategies or operational inefficiencies. 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. On 10/2/17 Deutsche X-trackers ETFs changed its name to Xtrackers ETFs. A complete list of the new names is available at Xtrackers ETFs ( ETFs ) are managed by DBX Advisors LLC or (the Adviser ) and distributed by ALPS Distributors, Inc. ( ALPS ). The Adviser is a subsidiary of Deutsche Bank AG, and is not affiliated with ALPS. Carefully consider the fund s investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the fund s prospectus, which may be obtained by calling , or by viewing or downloading a prospectus at Read the prospectus carefully before investing. Investment products: No bank guarantee Not FDIC insured May lose value Indexes are unmanaged and you cannot invest directly in an index. Shares are not individually redeemable, and owners of Shares may acquire those Shares from the Fund, or tender such Shares for redemption to the Fund, in Creation Units only Deutsche Bank AG. All rights reserved. ETF R (11/17) DBX2834 (7/18) MULTI-STRAT-FACT