IMPORTANT NOTICE REGARDING CHANGE
IN FUND NAME, INVESTMENT OBJECTIVE AND INVESTMENT POLICIES
SUPPLEMENT TO THE CURRENTLY EFFECTIVE
SUMMARY PROSPECTUS, STATUTORY PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION
Xtrackers High Yield Corporate Bond - Interest
Rate Hedged ETF (the “fund”)
The fund’s Board of Trustees (the “Board”) has
approved changes to the fund proposed by DBX Advisors LLC, the fund’s investment advisor, in order to implement a new investment
strategy for the fund, including: (i) a new fund name and ticker symbol; (ii) a new investment objective; (iii) a new underlying
index, the J.P. Morgan ESG DM Corporate High Yield USD Index; (iv) the replacement of the fund’s policy to invest at least
80% of its net assets, plus the amount of any borrowings for investment purposes, in high yield corporate bonds (including through
indirect investments in the Underlying Funds and any other ETF the Advisor may deem appropriate for achieving the fund’s
investment objective) with the policy to invest at least 80% of its net assets, plus the amount of any borrowings for investment
purposes, in corporate bonds rated high yield by credit rating agencies (e.g., S&P rating below BBB-); and (v) a reduction
in the fund’s unitary advisory fee. The changes to the fund are further described below and will become effective on or about
May 12, 2020 (the “Effective Date”).
On the Effective Date, the fund’s name will change to Xtrackers
J.P. Morgan ESG USD High Yield Corporate Bond ETF, and the fund’s ticker symbol will change from HYIH to ESHY. At that time,
the fund will change its current investment objective of seeking investment results that correspond generally to the performance,
before fees and expenses, of the Solactive USD High Yield Corporate Bond - Interest Rate Hedged Index to a new objective. The fund’s
new investment objective will be to seek investment results that correspond generally to the performance, before the fund’s
fees and expenses, of the J.P. Morgan ESG DM Corporate High Yield USD Index (the “Underlying Index”). The fund’s
investment objective is not fundamental and may be changed by the Board without shareholder approval. So long as and to the extent
it is required by applicable law, the fund will not change its new investment objective unless it provides shareholders with at
least 60 days’ prior written notice of such change. In addition, as of the Effective Date, the fund will no longer invest
a substantial portion of its assets in one or more exchange traded funds advised by DBX Advisors LLC.
Additionally, the fund’s Board approved changes to the fund’s
investment policies, which will also take effect on the Effective Date, such that (i) as noted above, the fund will normally invest
at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in corporate bonds rated high yield
by credit rating agencies (e.g., S&P rating below BBB-); and (ii) the fund will invest at least 80% of its total assets, but
typically far more, in instruments that comprise the Underlying Index.
Lastly, the Board has approved a reduction in the fund’s unitary
advisory fee. As of the Effective Date, the fund’s current unitary advisory fee of 0.35% will be reduced to 0.20%.
The fund’s current portfolio management team will continue
to manage the fund’s assets after the Effective Date.
Please Retain This Supplement for Future Reference.
February
27, 2020