# DWS Invest Qi US Equity
DWS INVEST QI US EQUITY

### Performance of share classes vs. benchmark (in USD)
| Share class | ISIN | 6 months |
| --- | --- | --- |
| Class USD IC | LU1978535810 | -3.3% |
| Class USD RC | LU1978536115 | -3.5% |
| MSCI USA TR Net |  | -2.2% |

“BVI method” performance, i.e., excluding the initial sales charge.
Past performance is no guide to future results.	As of: June 30, 2020
The format used for complete dates
in security names in the investment
portfolio is “day/month/year”.
DWS Invest Qi US Equity
| Statement of net assets as of June 30, 2020 |  |
| --- | --- |
|  | Amount in USD | % of net assets |
| I. Assets |  |  |
| 1. Equities (sectors): Information Technology | 1 428 839.25 | 24.29 |
| Telecommunication Services | 938 064.69 | 15.95 |
| Consumer Discretionaries | 1 297 089.56 | 22.05 |
| Energy | 201 105.61 | 3.42 |
| Consumer Staples | 467 922.74 | 7.93 |
| Financials | 835 602.57 | 14.19 |
| Basic Materials | 109 116.00 | 1.86 |
| Industrials | 379 894.07 | 6.44 |
| Utilities | 188 315.43 | 3.21 |
| Total equities | 5 845 949.92 | 99.34 |
| 2. Cash at bank | 4 010.69 | 0.07 |
| 3. Other assets | 75 496.34 | 1.28 |
| II. Liabilities |  |  |
| 1. Other liabilities | -40 423.30 | - 0.69 |
| III. Net assets | 5 885 033.65 | 100.00 |
| Negligible rounding errors may have arisen due to the rounding of calculated percentages. |  |  |

Investment portfolio – June 30, 2020
Securities traded on an exchange	5 845 949.92	99.34
| Equities 3M Co............................................  | Count | 173 | 173 | USD | 155.23 | 26 854.79 | 0.46 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Abbott Laboratories.................................  | Count | 376 |  | 64 | USD | 88.77 | 33 377.52 | 0.57 |
| AbbVie, Inc. .......................................  | Count | 711 | 229 |  | USD | 96.07 | 68 305.77 | 1.16 |
| Abiomed, Inc. .....................................  | Count | 110 | 110 |  | USD | 239.42 | 26 336.20 | 0.45 |
| Accenture PLC ....................................  | Count | 73 |  |  | USD | 212.8 | 15 534.40 | 0.26 |
| Activision Blizzard, Inc. ..............................  | Count | 264 |  |  | USD | 76.23 | 20 124.72 | 0.34 |
| Adobe Systems, Inc. ................................  | Count | 158 |  |  | USD | 429.77 | 67 903.66 | 1.15 |
| Advanced Micro Devices, Inc..........................  | Count | 219 |  |  | USD | 52.6 | 11 519.40 | 0.20 |
| AES Corp./VA .....................................  | Count | 1 254 |  | 1 276 | USD | 14.13 | 17 719.02 | 0.30 |
| Air Products & Chemicals, Inc. ........................  | Count | 73 |  |  | USD | 237.39 | 17 329.47 | 0.29 |
| Alexion Pharmaceuticals, Inc. .........................  | Count | 180 |  | 92 | USD | 111.8 | 20 124.00 | 0.34 |
| Align Technology, Inc. ...............................  | Count | 62 | 62 |  | USD | 265.9 | 16 485.80 | 0.28 |
| Allegion PLC ......................................  | Count | 161 |  |  | USD | 100.03 | 16 104.83 | 0.27 |
| Allstate Corp./The ..................................  | Count | 533 | 413 |  | USD | 95.85 | 51 088.05 | 0.87 |
| Alphabet, Inc. .....................................  | Count | 61 |  |  | USD | 1 389.35 | 84 750.35 | 1.44 |
| Alphabet, Inc. .....................................  | Count | 69 |  |  | USD | 1 392.14 | 96 057.66 | 1.63 |
| Altria Group, Inc. ...................................  | Count | 380 |  | 511 | USD | 39.01 | 14 823.80 | 0.25 |
| Amazon.com, Inc. ..................................  | Count | 96 |  |  | USD | 2 710.32 | 260 190.72 | 4.42 |
| Ameriprise Financial, Inc. ............................  | Count | 423 | 423 |  | USD | 148.75 | 62 921.25 | 1.07 |
| AmerisourceBergen Corp.............................  | Count | 355 | 355 |  | USD | 98.8 | 35 074.00 | 0.60 |
| Amgen, Inc. .......................................  | Count | 244 | 23 |  | USD | 232.42 | 56 710.48 | 0.96 |
| Anthem, Inc. ......................................  | Count | 81 |  |  | USD | 257.29 | 20 840.49 | 0.35 |
| Apple, Inc. ........................................  | Count | 1 062 |  |  | USD | 364.08 | 386 652.96 | 6.57 |
| Applied Materials, Inc................................  | Count | 456 |  |  | USD | 60.21 | 27 455.76 | 0.47 |
| Arch Capital Group Ltd ..............................  | Count | 544 |  |  | USD | 28.31 | 15 400.64 | 0.26 |
| Assurant, Inc. .....................................  | Count | 147 |  |  | USD | 100.94 | 14 838.18 | 0.25 |
| AT&T, Inc. ........................................  | Count | 1 329 |  | 410 | USD | 29.74 | 39 524.46 | 0.67 |
| Athene Holding Ltd .................................  | Count | 283 |  |  | USD | 30.19 | 8 543.77 | 0.15 |
| Autodesk, Inc. .....................................  | Count | 109 | 109 |  | USD | 232.76 | 25 370.84 | 0.43 |
| Bank of America Corp. ..............................  | Count | 2 790 |  |  | USD | 23.41 | 65 313.90 | 1.11 |
| Berkshire Hathaway, Inc. ............................  | Count | 340 |  |  | USD | 176.84 | 60 125.60 | 1.02 |
| Biogen Idec, Inc. ...................................  | Count | 101 | 101 | 58 | USD | 260.97 | 26 357.97 | 0.45 |
| Booking Holdings, Inc................................  | Count | 9 |  |  | USD | 1 572.57 | 14 153.13 | 0.24 |
| Bristol-Myers Squibb Co..............................  | Count | 492 |  |  | USD | 57.68 | 28 378.56 | 0.48 |
| Cabot Oil & Gas Corp. ...............................  | Count | 1 715 |  |  | USD | 16.95 | 29 069.25 | 0.49 |
| Cadence Design Systems, Inc. ........................  | Count | 188 | 188 |  | USD | 95.3 | 17 916.40 | 0.30 |
| Carrier Global Corp. .................................  | Count | 1 523 | 1 523 |  | USD | 21.59 | 32 881.57 | 0.56 |
| CBRE Group, Inc. ..................................  | Count | 1 378 | 715 |  | USD | 44.34 | 61 100.52 | 1.04 |
| Cheniere Energy, Inc. ...............................  | Count | 172 | 172 |  | USD | 45.93 | 7 899.96 | 0.13 |
| Chevron Corp. .....................................  | Count | 307 |  |  | USD | 86.68 | 26 610.76 | 0.45 |
| Church & Dwight Co., Inc. ...........................  | Count | 305 |  |  | USD | 76.91 | 23 457.55 | 0.40 |
| Cigna Corp. .......................................  | Count | 136 | 55 |  | USD | 185.1 | 25 173.60 | 0.43 |
| Cisco Systems, Inc..................................  | Count | 1 595 |  |  | USD | 46.69 | 74 470.55 | 1.27 |
| Citigroup, Inc. .....................................  | Count | 471 | 76 | 263 | USD | 50.215 | 23 651.27 | 0.40 |
| Citizens Financial Group, Inc. .........................  | Count | 314 |  |  | USD | 24.74 | 7 768.36 | 0.13 |
| Citrix Systems, Inc. .................................  | Count | 153 | 153 |  | USD | 147.13 | 22 510.89 | 0.38 |
| Coca-Cola Co./The ..................................  | Count | 658 |  | 366 | USD | 44.29 | 29 142.82 | 0.50 |
| Colgate-Palmolive Co. ...............................  | Count | 64 |  |  | USD | 72.73 | 4 654.72 | 0.08 |
| Comcast Corp......................................  | Count | 1 016 |  |  | USD | 38.15 | 38 760.40 | 0.66 |
| ConocoPhillips .....................................  | Count | 706 |  |  | USD | 40.33 | 28 472.98 | 0.48 |
| Copart, Inc. .......................................  | Count | 184 |  |  | USD | 81.73 | 15 038.32 | 0.26 |
| CoStar Group, Inc. ..................................  | Count | 43 |  |  | USD | 694.415 | 29 859.85 | 0.51 |
| Costco Wholesale Corp. .............................  | Count | 143 | 143 |  | USD | 301.58 | 43 125.94 | 0.73 |
| CSX Corp. ........................................  | Count | 403 |  |  | USD | 68.36 | 27 549.08 | 0.47 |
| CVS Health Corp....................................  | Count | 283 | 283 | 178 | USD | 64.21 | 18 171.43 | 0.31 |
| Darden Restaurants, Inc..............................  | Count | 163 | 163 |  | USD | 75.07 | 12 236.41 | 0.21 |
| DaVita, Inc. .......................................  | Count | 99 | 99 |  | USD | 77.48 | 7 670.52 | 0.13 |
| Diamondback Energy, Inc.............................  | Count | 195 | 195 |  | USD | 40.29 | 7 856.55 | 0.13 |
| Dollar General Corp. ................................  | Count | 130 |  |  | USD | 189.77 | 24 670.10 | 0.42 |
| Domino‘s Pizza, Inc. ................................  | Count | 45 | 17 |  | USD | 366.14 | 16 476.30 | 0.28 |
| DR Horton, Inc. ....................................  | Count | 188 |  |  | USD | 54.28 | 10 204.64 | 0.17 |
| eBay, Inc..........................................  | Count | 164 | 164 |  | USD | 52.015 | 8 530.46 | 0.15 |
| Edwards Lifesciences Corp. ..........................  | Count | 333 | 301 |  | USD | 67.59 | 22 507.47 | 0.38 |
| Electronic Arts, Inc. .................................  | Count | 289 | 289 |  | USD | 131.72 | 38 067.08 | 0.65 |
| EOG Resources, Inc. ................................  | Count | 123 |  |  | USD | 49.12 | 6 041.76 | 0.10 |
| Eversource Energy .................................  | Count | 70 |  | 72 | USD | 83.05 | 5 813.50 | 0.10 |
| Expeditors International of Washington, Inc. .............  | Count | 489 |  |  | USD | 75.12 | 36 733.68 | 0.62 |
| Exxon Mobil Corp. ..................................  | Count | 794 |  | 126 | USD | 43.38 | 34 443.72 | 0.59 |
| Facebook, Inc. .....................................  | Count | 719 | 209 |  | USD | 220.1 | 158 251.90 | 2.69 |
| Fastenal Co........................................  | Count | 331 |  |  | USD | 42.235 | 13 979.79 | 0.24 |
| Fiserv, Inc. ........................................  | Count | 120 |  |  | USD | 96.44 | 11 572.80 | 0.20 |
| FleetCor Technologies, Inc............................  | Count | 45 |  | 117 | USD | 245.02 | 11 025.90 | 0.19 |
| FNF Group ........................................  | Count | 348 |  |  | USD | 30.46 | 10 600.08 | 0.18 |
| HEICO Corp. ......................................  | Count | 66 |  |  | USD | 80.56 | 5 316.96 | 0.09 |
| Hershey Co./The ...................................  | Count | 105 |  |  | USD | 128.34 | 13 475.70 | 0.23 |
| HollyFrontier Corp. .................................  | Count | 360 |  |  | USD | 27.12 | 9 763.20 | 0.17 |

| DWS Invest Qi US Equity |  |
| --- | --- |
|  | Count/ | Quantity/ | Purchases/ | Sales/ | Currency | Market price | Total market | % of |
| Security name | units/ | principal | additions | disposals |  |  | value in | net assets |
|  | currency | amount | in the | reporting period |  |  | USD |  |
| Home Depot, Inc./The ...............................  | Count | 475 |  |  | USD | 247.06 | 117 353.50 | 1.99 |
| Honeywell International, Inc...........................  | Count | 150 |  |  | USD | 142.27 | 21 340.50 | 0.36 |
| Huntington Ingalls Industries, Inc.......................  | Count | 47 | 47 |  | USD | 176.8 | 8 309.60 | 0.14 |
| IDEXX Laboratories, Inc. .............................  | Count | 75 |  |  | USD | 324.91 | 24 368.25 | 0.41 |
| IHS Markit Ltd .....................................  | Count | 279 |  |  | USD | 72.84 | 20 322.36 | 0.35 |
| Illinois Tool Works, Inc. ..............................  | Count | 188 | 118 |  | USD | 171.05 | 32 157.40 | 0.55 |
| Intel Corp. ........................................  | Count | 718 |  |  | USD | 59.615 | 42 803.57 | 0.73 |
| Intercontinental Exchange, Inc. ........................  | Count | 293 | 159 |  | USD | 90.59 | 26 542.87 | 0.45 |
| International Flavors & Fragrances, Inc. .................  | Count | 51 |  |  | USD | 120.96 | 6 168.96 | 0.11 |
| Intuit, Inc. ........................................  | Count | 147 |  |  | USD | 290.21 | 42 660.87 | 0.73 |
| Intuitive Surgical, Inc. ...............................  | Count | 51 | 41 |  | USD | 556.74 | 28 393.74 | 0.48 |
| Jazz Pharmaceuticals PLC............................  | Count | 113 |  |  | USD | 108.89 | 12 304.57 | 0.21 |
| Johnson & Johnson.................................  | Count | 583 |  |  | USD | 138.34 | 80 652.22 | 1.37 |
| Jones Lang LaSalle, Inc. .............................  | Count | 312 |  |  | USD | 101.43 | 31 646.16 | 0.54 |
| JPMorgan Chase & Co...............................  | Count | 755 |  |  | USD | 93.49 | 70 584.95 | 1.20 |
| Keysight Technologies, Inc............................  | Count | 181 |  |  | USD | 100.3 | 18 154.30 | 0.31 |
| Kinder Morgan, Inc. .................................  | Count | 996 |  |  | USD | 14.61 | 14 551.56 | 0.25 |
| KLA-Tencor Corp. ..................................  | Count | 34 |  | 136 | USD | 194.53 | 6 614.02 | 0.11 |
| Kroger Co./The ....................................  | Count | 533 | 533 | 610 | USD | 33.98 | 18 111.34 | 0.31 |
| L3Harris Technologies, Inc. ...........................  | Count | 123 | 114 | 213 | USD | 172.76 | 21 249.48 | 0.36 |
| Linde PLC ........................................  | Count | 115 |  | 116 | USD | 209.88 | 24 136.20 | 0.41 |
| Lowe‘s Cos, Inc. ...................................  | Count | 198 |  | 67 | USD | 134.08 | 26 547.84 | 0.45 |
| M&T Bank Corp. ...................................  | Count | 137 | 137 |  | USD | 102.68 | 14 067.16 | 0.24 |
| MarketAxess Holdings, Inc. ..........................  | Count | 32 | 32 |  | USD | 500.01 | 16 000.32 | 0.27 |
| Marsh & McLennan Cos, Inc. .........................  | Count | 119 |  |  | USD | 105.82 | 12 592.58 | 0.21 |
| Masco Corp. ......................................  | Count | 399 |  |  | USD | 49.08 | 19 582.92 | 0.33 |
| MasterCard, Inc. ...................................  | Count | 292 | 136 | 61 | USD | 292.91 | 85 529.72 | 1.45 |
| Match Group, Inc. ..................................  | Count | 183 |  |  | USD | 106 | 19 398.00 | 0.33 |
| McDonald‘s Corp. ..................................  | Count | 220 |  | 121 | USD | 182.915 | 40 241.30 | 0.68 |
| Medtronic PLC ....................................  | Count | 97 |  | 51 | USD | 89.43 | 8 674.71 | 0.15 |
| Merck & Co., Inc. ..................................  | Count | 893 |  |  | USD | 76.39 | 68 216.27 | 1.16 |
| MetLife, Inc. ......................................  | Count | 479 | 479 | 407 | USD | 35.77 | 17 133.83 | 0.29 |
| Microsoft Corp. ....................................  | Count | 1 862 | 285 |  | USD | 199.69 | 371 822.78 | 6.32 |
| Monster Beverage Corp. .............................  | Count | 520 |  |  | USD | 69.05 | 35 906.00 | 0.61 |
| Moody‘s Corp......................................  | Count | 68 |  |  | USD | 268.94 | 18 287.92 | 0.31 |
| Morgan Stanley ....................................  | Count | 255 | 255 | 180 | USD | 47.42 | 12 092.10 | 0.21 |
| MSCI, Inc. ........................................  | Count | 120 | 120 |  | USD | 330.45 | 39 654.00 | 0.67 |
| Netflix, Inc. .......................................  | Count | 119 | 24 |  | USD | 452.97 | 53 903.43 | 0.92 |
| Newmont Mining Corp...............................  | Count | 215 |  |  | USD | 59.81 | 12 859.15 | 0.22 |
| NextEra Energy, Inc. ................................  | Count | 288 |  |  | USD | 238.62 | 68 722.56 | 1.17 |
| NIKE, Inc..........................................  | Count | 388 |  |  | USD | 95.95 | 37 228.60 | 0.63 |
| Norfolk Southern Corp. ..............................  | Count | 102 |  |  | USD | 172.72 | 17 617.44 | 0.30 |
| NVIDIA Corp. ......................................  | Count | 386 |  |  | USD | 379.26 | 146 394.36 | 2.49 |
| NVR, Inc. .........................................  | Count | 14 | 9 |  | USD | 3 211.01 | 44 954.14 | 0.76 |
| Old Dominion Freight Line, Inc. .......................  | Count | 147 | 49 |  | USD | 165.95 | 24 394.65 | 0.41 |
| Oracle Corp. ......................................  | Count | 790 | 790 |  | USD | 55.07 | 43 505.30 | 0.74 |
| O‘Reilly Automotive, Inc..............................  | Count | 30 |  |  | USD | 419.47 | 12 584.10 | 0.21 |
| Otis Worldwide Corp. ...............................  | Count | 300 | 300 |  | USD | 55.7 | 16 710.00 | 0.28 |
| Paypal Holdings, Inc. ................................  | Count | 239 |  | 284 | USD | 171.76 | 41 050.64 | 0.70 |
| PepsiCo, Inc. ......................................  | Count | 134 |  |  | USD | 131.74 | 17 653.16 | 0.30 |
| Pfizer, Inc. ........................................  | Count | 1 339 |  |  | USD | 32.29 | 43 236.31 | 0.73 |
| Philip Morris International, Inc. ........................  | Count | 525 | 319 |  | USD | 69.9 | 36 697.50 | 0.62 |
| Pioneer Natural Resources Co. ........................  | Count | 147 | 147 |  | USD | 94.33 | 13 866.51 | 0.24 |
| Procter & Gamble Co. ...............................  | Count | 378 |  | 142 | USD | 118.78 | 44 898.84 | 0.76 |
| Progressive Corp./The ...............................  | Count | 738 | 614 |  | USD | 79.26 | 58 493.88 | 0.99 |
| PulteGroup, Inc.....................................  | Count | 520 |  |  | USD | 33.32 | 17 326.40 | 0.29 |
| QUALCOMM, Inc...................................  | Count | 263 |  |  | USD | 91.46 | 24 053.98 | 0.41 |
| ResMed, Inc. ......................................  | Count | 231 |  |  | USD | 189.51 | 43 776.81 | 0.74 |
| Roper Technologies, Inc..............................  | Count | 59 |  |  | USD | 385 | 22 715.00 | 0.39 |
| S+P Global, Inc.....................................  | Count | 98 |  |  | USD | 323.54 | 31 706.92 | 0.54 |
| Seagate Technology PLC ............................  | Count | 189 | 189 |  | USD | 48.23 | 9 115.47 | 0.16 |
| Sherwin-Williams Co./The ............................  | Count | 71 |  |  | USD | 567.82 | 40 315.22 | 0.69 |
| Southern Co./The ..................................  | Count | 555 | 555 |  | USD | 51.5 | 28 582.50 | 0.49 |
| Starbucks Corp. ....................................  | Count | 300 |  |  | USD | 73.26 | 21 978.00 | 0.37 |
| Steel Dynamics, Inc. ................................  | Count | 325 |  |  | USD | 25.56 | 8 307.00 | 0.14 |
| SVB Financial Group ................................  | Count | 177 | 177 |  | USD | 209.94 | 37 159.38 | 0.63 |
| SYSCO Corp. ......................................  | Count | 328 |  |  | USD | 53.79 | 17 643.12 | 0.30 |
| Texas Instruments, Inc...............................  | Count | 330 |  |  | USD | 127 | 41 910.00 | 0.71 |
| TransDigm Group, Inc. ..............................  | Count | 31 |  | 31 | USD | 436.45 | 13 529.95 | 0.23 |
| Tyson Foods, Inc. ..................................  | Count | 324 | 72 | 143 | USD | 59 | 19 116.00 | 0.33 |
| Union Pacific Corp. .................................  | Count | 30 |  |  | USD | 164.76 | 4 942.80 | 0.08 |
| UnitedHealth Group, Inc..............................  | Count | 322 |  |  | USD | 288.98 | 93 051.56 | 1.58 |
| Valero Energy Corp..................................  | Count | 195 |  |  | USD | 55.84 | 10 888.80 | 0.19 |
| Veeva Systems, Inc. ................................  | Count | 67 |  |  | USD | 233.97 | 15 675.99 | 0.27 |
| VeriSign, Inc. ......................................         | Count | 59 | 59 |  | USD | 204.73 | 12 079.07 | 0.21 |
| Verizon Communications, Inc..........................  | Count | 1 040 |  |  | USD | 54.41 | 56 586.40 | 0.96 |
| Vertex Pharmaceuticals, Inc. ..........................  | Count | 157 | 26 |  | USD | 287.05 | 45 066.85 | 0.77 |
| ViacomCBS, Inc. ...................................  | Count | 216 |  |  | USD | 23.07 | 4 983.12 | 0.08 |
| Visa, Inc. .........................................  | Count | 462 |  | 107 | USD | 191.36 | 88 408.32 | 1.50 |
| Vistra Energy Corp. .................................  | Count | 822 |  |  | USD | 18.44 | 15 157.68 | 0.26 |
| Walt Disney Co./The ................................  | Count | 148 |  | 392 | USD | 110.98 | 16 425.04 | 0.28 |
| Waste Management, Inc. ............................  | Count | 132 |  |  | USD | 104.16 | 13 749.12 | 0.23 |
| WEC Energy Group, Inc. .............................  | Count | 446 |  |  | USD | 87.07 | 38 833.22 | 0.66 |

| Williams Cos, Inc./The...............................  | Count | 641 | USD | 18.16 | 11 640.56 | 0.20 |
| --- | --- | --- | --- | --- | --- | --- |
| Xcel Energy, Inc. ...................................  | Count | 215 | USD | 62.73 | 13 486.95 | 0.23 |
| Yum! Brands, Inc. ..................................  | Count | 162 | USD | 86.28 | 13 977.36 | 0.24 |
| Total securities portfolio |  |  |  |  | 5 845 949.92 | 99.34 |
| Cash at bank |  |  |  |  | 4 010.69 | 0.07 |
| Deposits in non-EU/EEA currencies |  |  |  |  |  |  |
| U.S. dollar ........................................  | USD |  |  |  | 4 010.69 | 0.07 |
| Other assets |  |  |  |  | 75 496.34 | 1.28 |
| Dividends/Distributions receivable .....................  |  |  |  |  | 2 449.66 | 0.04 |
| Receivables from exceeding the expense cap ............  |  |  |  |  | 73 046.68 | 1.24 |
| Total assets |  |  |  |  | 5 925 456.95 | 100.69 |
| Other liabilities |  |  |  |  | -40 423.30 | -0.69 |
| Liabilities from cost items ............................  |  |  |  |  | -40 423.30 | -0.69 |
| Total liabilities |  |  |  |  | -40 423.30 | -0.69 |
| Net assets |  |  |  |  | 5 885 033.65 | 100.00 |

Negligible rounding errors may have arisen due to the rounding of calculated percentages.
A list of the transactions completed during the reporting period that no longer appear in the investment portfolio is available free of charge from the Management Company upon request.
| Net asset value per share and number of shares outstanding | Count/ currency | Net asset value per share in the respective currency |
| --- | --- | --- |
| Net asset value per share Class USD IC ......................................  | USD | 106.04 |
| Class USD RC .....................................  | USD | 105.56 |
| Number of shares outstanding Class USD IC ......................................  | Count | 55 389.000 |
| Class USD RC .....................................  | Count | 111.000 |

Composition of the reference portfolio (according to CSSF circular 11/512) MSCI Developed - US Net TR Index
Market risk exposure (value-at-risk) (according to CSSF circular 11/512)
| Lowest market risk exposure .........................  | % | 92.832 |
| --- | --- | --- |
| Highest market risk exposure .........................  | % | 100.566 |
| Average market risk exposure ........................  | % | 96.917 |

The values-at-risk were calculated for the period from January 1, 2020, through June 30, 2020, using historical simulation with a 99% confidence level, a 10-day holding period and an effective historical observation period of one year. The risk in a reference portfolio that does not contain derivatives is used as the measurement benchmark. Market risk is the risk to the fund’s assets arising from an unfavorable change in market prices. The Company determines the potential market risk by means of the relative value-at-risk approachas defined in CSSF circular 11/512.
In the reporting period, the average leverage effect from the use of derivatives was 0.0, whereby the total of the nominal amounts of the derivatives in relation to the fund’s assets was used for the calculation (sum-of-notional approach).
The gross exposure generated via derivatives pursuant to point 40 a) of the “Guidelines on ETFs and other UCITS issues” of the European Securities and Markets Authority (ESMA) totaled USD 0.00 as of the reporting date.
 Notes on valuation	
Under the responsibility of the Board of Directors of the SICAV, the Management Company determines the net asset values per share and performs the valuation of the assets of the fund. The basic provision of price data and price validation are performed in accordance with the method introduced by the Board of Directors of the SICAV on the basis of the legal and regulatory requirements or the principles for valuation methods defined in the SICAV’s prospectus.
If no trading prices are available, prices are determined with the aid of valuation models (derived market values) which are agreed between State Street Bank International GmbH, Luxembourg branch, as external price service provider and the Management Company and which are based as far as possible on market parameters. This procedure is subject to an ongoing monitoring process. The plausibility of price information from third parties is checked through other pricing sources, model calculations or other suitable procedure.
Assets reported in this report are not valued at derived market values.

Translation (ENDE, 2020-06-30):
# DWS Invest Qi US Equity
DWS INVEST QI US EQUITY

### Wertentwicklung der Anteilklassen vs. Vergleichsindex (in USD)
| Anteilklasse | ISIN | 6 Monate |
| --- | --- | --- |
| Klasse USD IC | LU1978535810 | -3,3% |
| Klasse USD RC | LU1978536115 | -3,5% |
| MSCI USA TR Net |  | -2,2% |

Wertentwicklung nach BVI-Methode, d. h. ohne Berücksichtigung des Ausgabeaufschlages.
Wertentwicklungen der Vergangenheit ermöglichen keine Prognose für die Zukunft.	Stand: 30.6.2020
DWS Invest Qi US Equity
| Vermögensübersicht zum 30.6.2020 |  |
| --- | --- |
|  | Bestand in USD | %-Anteil am Fondsvermögen |
| I. Vermögensgegenstände |  |  |
| 1. Aktien (Branchen) Informationstechnologie | 1 428 839,25 | 24,29 |
| Telekommunikationsdienste | 938 064,69 | 15,95 |
| Dauerhafte Konsumgüter | 1 297 089,56 | 22,05 |
| Energie | 201 105,61 | 3,42 |
| Hauptverbrauchsgüter | 467 922,74 | 7,93 |
| Finanzsektor | 835 602,57 | 14,19 |
| Grundstoffe | 109 116,00 | 1,86 |
| Industrien | 379 894,07 | 6,44 |
| Versorger | 188 315,43 | 3,21 |
| Summe Aktien | 5 845 949,92 | 99,34 |
| 2. Bankguthaben | 4 010,69 | 0,07 |
| 3. Sonstige Vermögensgegenstände | 75 496,34 | 1,28 |
| II. Verbindlichkeiten |  |  |
| 1. Sonstige Verbindlichkeiten | -40 423,30 | - 0,69 |
| III. Fondsvermögen | 5 885 033,65 | 100,00 |

Durch Rundung der Prozentanteile bei der Berechnung können geringfügige Rundungsdifferenzen entstanden sein.
| Wertpapierbezeichnung | Stück bzw. Anteile bzw. | Nominalbetrag bzw. | Käufe/ Zugänge | Verkäufe/ Abgänge | Währung | Kurs | Kurswert in | %-Anteil am Fonds- |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  | Währung | Bestand | im Berichtszeitraum |  |  | USD	vermögen |
| Börsengehandelte Wertpapiere |  |  |  |  |  | 5 845 949,92	99,34 |
| Aktien 3M Co. ..........................................  | Stück | 173 | 173 |  | USD | 155,23	26 854,79	0,46 |
| Abbott Laboratories ................................  | Stück | 376 |  | 64 | USD | 88,77	33 377,52	0,57 |
| AbbVie, Inc. ......................................  | Stück | 711 | 229 |  | USD | 96,07	68 305,77	1,16 |
| Abiomed, Inc. .....................................  | Stück | 110 | 110 |  | USD | 239,42	26 336,20	0,45 |
| Accenture PLC ....................................  | Stück | 73 |  |  | USD | 212,8	15 534,40	0,26 |
| Activision Blizzard, Inc. ..............................  | Stück | 264 |  |  | USD | 76,23	20 124,72	0,34 |
| Adobe Systems, Inc. ...............................  | Stück | 158 |  |  | USD | 429,77	67 903,66	1,15 |
| Advanced Micro Devices, Inc. ........................  | Stück | 219 |  |  | USD | 52,6	11 519,40	0,20 |

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Vermögensaufstellung zum 30.6.2020
| AES Corp./VA .....................................  | Stück | 1 254 |  | 1 276 | USD | 14,13 | 17 719,02 | 0,30 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Air Products & Chemicals, Inc. ........................  | Stück | 73 |  |  | USD | 237,39 | 17 329,47 | 0,29 |
| Alexion Pharmaceuticals, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . | Stück | 180 |  | 92 | USD | 111,8 | 20 124,00 | 0,34 |
| Align Technology, Inc. ...............................        | Stück | 62 | 62 |  | USD | 265,9 | 16 485,80 | 0,28 |
| Allegion PLC ......................................  | Stück | 161 |  |  | USD | 100,03 | 16 104,83 | 0,27 |
| Allstate Corp./The ..................................  | Stück | 533 | 413 |  | USD | 95,85 | 51 088,05 | 0,87 |
| Alphabet, Inc. .....................................  | Stück | 61 |  |  | USD | 1 389,35 | 84 750,35 | 1,44 |
| Alphabet, Inc. .....................................  | Stück | 69 |  |  | USD | 1 392,14 | 96 057,66 | 1,63 |
| Altria Group, Inc. ..................................  | Stück | 380 |  | 511 | USD | 39,01 | 14 823,80 | 0,25 |
| Amazon.com, Inc. ..................................  | Stück | 96 |  |  | USD | 2 710,32 | 260 190,72 | 4,42 |
| Ameriprise Financial, Inc. ............................  | Stück | 423 | 423 |  | USD | 148,75 | 62 921,25 | 1,07 |
| AmerisourceBergen Corp. ...........................  | Stück | 355 | 355 |  | USD | 98,8 | 35 074,00 | 0,60 |
| Amgen, Inc. ......................................  | Stück | 244 | 23 |  | USD | 232,42 | 56 710,48 | 0,96 |
| Anthem, Inc. ......................................  | Stück | 81 |  |  | USD | 257,29 | 20 840,49 | 0,35 |
| Apple, Inc. .......................................  | Stück | 1 062 |  |  | USD | 364,08 | 386 652,96 | 6,57 |
| Applied Materials, Inc. ..............................  | Stück | 456 |  |  | USD | 60,21 | 27 455,76 | 0,47 |
| Arch Capital Group Ltd ..............................  | Stück | 544 |  |  | USD | 28,31 | 15 400,64 | 0,26 |
| Assurant, Inc. .....................................  | Stück | 147 |  |  | USD | 100,94 | 14 838,18 | 0,25 |
| AT&T, Inc. ........................................          | Stück | 1 329 |  | 410 | USD | 29,74 | 39 524,46 | 0,67 |
| Athene Holding Ltd ................................  | Stück | 283 |  |  | USD | 30,19 | 8 543,77 | 0,15 |
| Autodesk, Inc. ....................................  | Stück | 109 | 109 |  | USD | 232,76 | 25 370,84 | 0,43 |
| Bank of America Corp. ..............................  | Stück | 2 790 |  |  | USD | 23,41 | 65 313,90 | 1,11 |
| Berkshire Hathaway, Inc. ............................  | Stück | 340 |  |  | USD | 176,84 | 60 125,60 | 1,02 |
| Biogen Idec, Inc. ..................................  | Stück | 101 | 101 | 58 | USD | 260,97 | 26 357,97 | 0,45 |
| Booking Holdings, Inc.  .............................  | Stück | 9 |  |  | USD | 1 572,57 | 14 153,13 | 0,24 |
| Bristol-Myers Squibb Co. ............................  | Stück | 492 |  |  | USD | 57,68 | 28 378,56 | 0,48 |
| Cabot Oil & Gas Corp. ..............................  | Stück | 1 715 |  |  | USD | 16,95 | 29 069,25 | 0,49 |
| Cadence Design Systems, Inc. .......................  | Stück | 188 | 188 |  | USD | 95,3 | 17 916,40 | 0,30 |
| Carrier Global Corp. ................................  | Stück | 1 523 | 1 523 |  | USD | 21,59 | 32 881,57 | 0,56 |
| CBRE Group, Inc. ..................................  | Stück | 1 378 | 715 |  | USD | 44,34 | 61 100,52 | 1,04 |
| Cheniere Energy, Inc. ...............................  | Stück | 172 | 172 |  | USD | 45,93 | 7 899,96 | 0,13 |
| Chevron Corp. ....................................  | Stück | 307 |  |  | USD | 86,68 | 26 610,76 | 0,45 |
| Church & Dwight Co., Inc. ...........................  | Stück | 305 |  |  | USD | 76,91 | 23 457,55 | 0,40 |
| Cigna Corp. .......................................  | Stück | 136 | 55 |  | USD | 185,1 | 25 173,60 | 0,43 |
| Cisco Systems, Inc. ................................  | Stück | 1 595 |  |  | USD | 46,69 | 74 470,55 | 1,27 |
| Citigroup, Inc. .....................................  | Stück | 471 | 76 | 263 | USD | 50,215 | 23 651,27 | 0,40 |
| Citizens Financial Group, Inc. .........................  | Stück | 314 |  |  | USD | 24,74 | 7 768,36 | 0,13 |
| Citrix Systems, Inc. ................................  | Stück | 153 | 153 |  | USD | 147,13 | 22 510,89 | 0,38 |
| Coca-Cola Co./The .................................  | Stück | 658 |  | 366 | USD | 44,29 | 29 142,82 | 0,50 |
| Colgate-Palmolive Co. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | Stück | 64 |  |  | USD | 72,73 | 4 654,72 | 0,08 |
| Comcast Corp. ....................................  | Stück | 1 016 |  |  | USD | 38,15 | 38 760,40 | 0,66 |
| ConocoPhillips ....................................  | Stück | 706 |  |  | USD | 40,33 | 28 472,98 | 0,48 |
| Copart, Inc. ......................................  | Stück | 184 |  |  | USD | 81,73 | 15 038,32 | 0,26 |
| CoStar Group, Inc. .................................  | Stück | 43 |  |  | USD | 694,415 | 29 859,85 | 0,51 |
| Costco Wholesale Corp.  ............................  | Stück | 143 | 143 |  | USD | 301,58 | 43 125,94 | 0,73 |
| CSX Corp. ........................................  | Stück | 403 |  |  | USD | 68,36 | 27 549,08 | 0,47 |
| CVS Health Corp. ..................................  | Stück | 283 | 283 | 178 | USD | 64,21 | 18 171,43 | 0,31 |
| Darden Restaurants, Inc. ............................  | Stück | 163 | 163 |  | USD | 75,07 | 12 236,41 | 0,21 |
| DaVita, Inc. .......................................  | Stück | 99 | 99 |  | USD | 77,48 | 7 670,52 | 0,13 |
| Diamondback Energy, Inc. ...........................  | Stück | 195 | 195 |  | USD | 40,29 | 7 856,55 | 0,13 |
| Dollar General Corp. ................................  | Stück | 130 |  |  | USD | 189,77 | 24 670,10 | 0,42 |
| Domino‘s Pizza, Inc. ...............................  | Stück | 45 | 17 |  | USD | 366,14 | 16 476,30 | 0,28 |
| DR Horton, Inc. ...................................  | Stück | 188 |  |  | USD | 54,28 | 10 204,64 | 0,17 |
| eBay, Inc. ........................................  | Stück | 164 | 164 |  | USD | 52,015 | 8 530,46 | 0,15 |
| Edwards Lifesciences Corp.  .........................  | Stück | 333 | 301 |  | USD | 67,59 | 22 507,47 | 0,38 |
| Electronic Arts, Inc. ................................  | Stück | 289 | 289 |  | USD | 131,72 | 38 067,08 | 0,65 |
| EOG Resources, Inc. ...............................  | Stück | 123 |  |  | USD | 49,12 | 6 041,76 | 0,10 |
| Eversource Energy .................................  | Stück | 70 |  | 72 | USD | 83,05 | 5 813,50 | 0,10 |
| Expeditors International of Washington, Inc. .............  | Stück | 489 |  |  | USD | 75,12 | 36 733,68 | 0,62 |
| Exxon Mobil Corp. .................................  | Stück | 794 |  | 126 | USD | 43,38 | 34 443,72 | 0,59 |
| Facebook, Inc. ....................................  | Stück | 719 | 209 |  | USD | 220,1 | 158 251,90 | 2,69 |
| Fastenal Co. ......................................  | Stück | 331 |  |  | USD | 42,235 | 13 979,79 | 0,24 |
| Fiserv, Inc. .......................................  | Stück | 120 |  |  | USD | 96,44 | 11 572,80 | 0,20 |
| FleetCor Technologies, Inc. ..........................  | Stück | 45 |  | 117 | USD | 245,02 | 11 025,90 | 0,19 |
| FNF Group .......................................  | Stück | 348 |  |  | USD | 30,46 | 10 600,08 | 0,18 |
| HEICO Corp. .....................................  | Stück | 66 |  |  | USD | 80,56 | 5 316,96 | 0,09 |
| Hershey Co./The ...................................  | Stück | 105 |  |  | USD | 128,34 | 13 475,70 | 0,23 |
| HollyFrontier Corp. .................................  | Stück | 360 |  |  | USD | 27,12 | 9 763,20 | 0,17 |

| DWS Invest Qi US Equity |  |
| --- | --- |
|  | Stück bzw. | Nominalbetrag | Käufe/ | Verkäufe/ | Währung | Kurs | Kurswert | %-Anteil am |
| Wertpapierbezeichnung | Anteile bzw. | bzw. | Zugänge | Abgänge |  |  | in | Fonds- |
| Währung	Bestand	im Berichtszeitraum	USD	vermögen |
| Home Depot, Inc./The ..............................  | Stück | 475 |  |  | USD | 247,06 | 117 353,50 | 1,99 |
| Honeywell International, Inc. .........................  | Stück | 150 |  |  | USD | 142,27 | 21 340,50 | 0,36 |
| Huntington Ingalls Industries, Inc. ....................  | Stück | 47 | 47 |  | USD | 176,8 | 8 309,60 | 0,14 |
| IDEXX Laboratories, Inc. ............................  | Stück | 75 |  |  | USD | 324,91 | 24 368,25 | 0,41 |
| IHS Markit Ltd ....................................  | Stück | 279 |  |  | USD | 72,84 | 20 322,36 | 0,35 |
| Illinois Tool Works, Inc. .............................  | Stück | 188 | 118 |  | USD | 171,05 | 32 157,40 | 0,55 |
| Intel Corp. ........................................  | Stück | 718 |  |  | USD | 59,615 | 42 803,57 | 0,73 |
| Intercontinental Exchange, Inc. .......................  | Stück | 293 | 159 |  | USD | 90,59 | 26 542,87 | 0,45 |
| International Flavors & Fragrances, Inc. .................  | Stück | 51 |  |  | USD | 120,96 | 6 168,96 | 0,11 |
| Intuit, Inc. .......................................  | Stück | 147 |  |  | USD | 290,21 | 42 660,87 | 0,73 |
| Intuitive Surgical, Inc. ...............................  | Stück | 51 | 41 |  | USD | 556,74 | 28 393,74 | 0,48 |
| Jazz Pharmaceuticals PLC ...........................  | Stück | 113 |  |  | USD | 108,89 | 12 304,57 | 0,21 |
| Johnson & Johnson ................................  | Stück | 583 |  |  | USD | 138,34 | 80 652,22 | 1,37 |
| Jones Lang LaSalle, Inc. ............................  | Stück | 312 |  |  | USD | 101,43 | 31 646,16 | 0,54 |
| JPMorgan Chase & Co. .............................  | Stück | 755 |  |  | USD | 93,49 | 70 584,95 | 1,20 |
| Keysight Technologies, Inc. ...........................  | Stück | 181 |  |  | USD | 100,3 | 18 154,30 | 0,31 |
| Kinder Morgan, Inc. ................................  | Stück | 996 |  |  | USD | 14,61 | 14 551,56 | 0,25 |
| KLA-Tencor Corp. ..................................  | Stück | 34 |  | 136 | USD | 194,53 | 6 614,02 | 0,11 |
| Kroger Co./The ....................................  | Stück | 533 | 533 | 610 | USD | 33,98 | 18 111,34 | 0,31 |
| L3Harris Technologies, Inc. ..........................  | Stück | 123 | 114 | 213 | USD | 172,76 | 21 249,48 | 0,36 |
| Linde PLC  .......................................  | Stück | 115 |  | 116 | USD | 209,88 | 24 136,20 | 0,41 |
| Lowe‘s Cos, Inc. ..................................  | Stück | 198 |  | 67 | USD | 134,08 | 26 547,84 | 0,45 |
| M&T Bank Corp. ...................................  | Stück | 137 | 137 |  | USD | 102,68 | 14 067,16 | 0,24 |
| MarketAxess Holdings, Inc.  .........................  | Stück | 32 | 32 |  | USD | 500,01 | 16 000,32 | 0,27 |
| Marsh & McLennan Cos, Inc. ........................  | Stück | 119 |  |  | USD | 105,82 | 12 592,58 | 0,21 |
| Masco Corp. ......................................  | Stück | 399 |  |  | USD | 49,08 | 19 582,92 | 0,33 |
| MasterCard, Inc. ...................................  | Stück | 292 | 136 | 61 | USD | 292,91 | 85 529,72 | 1,45 |
| Match Group, Inc. .................................  | Stück | 183 |  |  | USD | 106 | 19 398,00 | 0,33 |
| McDonald‘s Corp. ..................................  | Stück | 220 |  | 121 | USD | 182,915 | 40 241,30 | 0,68 |
| Medtronic PLC ....................................  | Stück | 97 |  | 51 | USD | 89,43 | 8 674,71 | 0,15 |
| Merck & Co., Inc. ..................................  | Stück | 893 |  |  | USD | 76,39 | 68 216,27 | 1,16 |
| MetLife, Inc. .....................................  | Stück | 479 | 479 | 407 | USD | 35,77 | 17 133,83 | 0,29 |
| Microsoft Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | Stück | 1 862 | 285 |  | USD | 199,69 | 371 822,78 | 6,32 |
| Monster Beverage Corp. ............................  | Stück | 520 |  |  | USD | 69,05 | 35 906,00 | 0,61 |
| Moody‘s Corp. ....................................  | Stück | 68 |  |  | USD | 268,94 | 18 287,92 | 0,31 |
| Morgan Stanley ...................................  | Stück | 255 | 255 | 180 | USD | 47,42 | 12 092,10 | 0,21 |
| MSCI, Inc. .......................................  | Stück | 120 | 120 |  | USD | 330,45 | 39 654,00 | 0,67 |
| Netflix, Inc. ......................................  | Stück | 119 | 24 |  | USD | 452,97 | 53 903,43 | 0,92 |
| Newmont Mining Corp. .............................  | Stück | 215 |  |  | USD | 59,81 | 12 859,15 | 0,22 |
| NextEra Energy, Inc. ................................  | Stück | 288 |  |  | USD | 238,62 | 68 722,56 | 1,17 |
| NIKE, Inc. .......................................  | Stück | 388 |  |  | USD | 95,95 | 37 228,60 | 0,63 |
| Norfolk Southern Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | Stück | 102 |  |  | USD | 172,72 | 17 617,44 | 0,30 |
| NVIDIA Corp. .....................................  | Stück | 386 |  |  | USD | 379,26 | 146 394,36 | 2,49 |
| NVR, Inc. ........................................  | Stück | 14 | 9 |  | USD | 3 211,01 | 44 954,14 | 0,76 |
| Old Dominion Freight Line, Inc. ......................  | Stück | 147 | 49 |  | USD | 165,95 | 24 394,65 | 0,41 |
| Oracle Corp. ......................................  | Stück | 790 | 790 |  | USD | 55,07 | 43 505,30 | 0,74 |
| O‘Reilly Automotive, Inc. ............................  | Stück | 30 |  |  | USD | 419,47 | 12 584,10 | 0,21 |
| Otis Worldwide Corp.  ..............................  | Stück | 300 | 300 |  | USD | 55,7 | 16 710,00 | 0,28 |
| Paypal Holdings, Inc. ...............................  | Stück | 239 |  | 284 | USD | 171,76 | 41 050,64 | 0,70 |
| PepsiCo, Inc. ......................................  | Stück | 134 |  |  | USD | 131,74 | 17 653,16 | 0,30 |
| Pfizer, Inc. ........................................  | Stück | 1 339 |  |  | USD | 32,29 | 43 236,31 | 0,73 |
| Philip Morris International, Inc. ........................  | Stück | 525 | 319 |  | USD | 69,9 | 36 697,50 | 0,62 |
| Pioneer Natural Resources Co. .......................  | Stück | 147 | 147 |  | USD | 94,33 | 13 866,51 | 0,24 |
| Procter & Gamble Co. ..............................  | Stück | 378 |  | 142 | USD | 118,78 | 44 898,84 | 0,76 |
| Progressive Corp./The ..............................  | Stück | 738 | 614 |  | USD | 79,26 | 58 493,88 | 0,99 |
| PulteGroup, Inc. ...................................  | Stück | 520 |  |  | USD | 33,32 | 17 326,40 | 0,29 |
| QUALCOMM, Inc. .................................  | Stück | 263 |  |  | USD | 91,46 | 24 053,98 | 0,41 |
| ResMed, Inc. .....................................  | Stück | 231 |  |  | USD | 189,51 | 43 776,81 | 0,74 |
| Roper Technologies, Inc. ............................  | Stück | 59 |  |  | USD | 385 | 22 715,00 | 0,39 |
| S+P Global, Inc. ...................................  | Stück | 98 |  |  | USD | 323,54 | 31 706,92 | 0,54 |
| Seagate Technology PLC ............................  | Stück | 189 | 189 |  | USD | 48,23 | 9 115,47 | 0,16 |
| Sherwin-Williams Co./The ...........................  | Stück | 71 |  |  | USD | 567,82 | 40 315,22 | 0,69 |
| Southern Co./The .................................  | Stück | 555 | 555 |  | USD | 51,5 | 28 582,50 | 0,49 |
| Starbucks Corp. ...................................  | Stück | 300 |  |  | USD | 73,26 | 21 978,00 | 0,37 |
| Steel Dynamics, Inc. ...............................  | Stück | 325 |  |  | USD | 25,56 | 8 307,00 | 0,14 |
| SVB Financial Group ...............................  | Stück | 177 | 177 |  | USD | 209,94 | 37 159,38 | 0,63 |
| SYSCO Corp. .....................................  | Stück | 328 |  |  | USD | 53,79 | 17 643,12 | 0,30 |
| Texas Instruments, Inc. .............................  | Stück | 330 |  |  | USD | 127 | 41 910,00 | 0,71 |
| TransDigm Group, Inc. ..............................  | Stück | 31 |  | 31 | USD | 436,45 | 13 529,95 | 0,23 |
| Tyson Foods, Inc. ..................................  | Stück | 324 | 72 | 143 | USD | 59 | 19 116,00 | 0,33 |
| Union Pacific Corp. .................................  | Stück | 30 |  |  | USD | 164,76 | 4 942,80 | 0,08 |
| UnitedHealth Group, Inc. ............................  | Stück | 322 |  |  | USD | 288,98 | 93 051,56 | 1,58 |
| Valero Energy Corp. ................................  | Stück | 195 |  |  | USD | 55,84 | 10 888,80 | 0,19 |
| Veeva Systems, Inc. ...............................  | Stück | 67 |  |  | USD | 233,97 | 15 675,99 | 0,27 |
| VeriSign, Inc. .....................................  | Stück | 59 | 59 |  | USD | 204,73 | 12 079,07 | 0,21 |
| Verizon Communications, Inc. ........................  | Stück | 1 040 |  |  | USD | 54,41 | 56 586,40 | 0,96 |
| Vertex Pharmaceuticals, Inc. .........................  | Stück | 157 | 26 |  | USD | 287,05 | 45 066,85 | 0,77 |
| ViacomCBS, Inc. ..................................  | Stück | 216 |  |  | USD | 23,07 | 4 983,12 | 0,08 |
| Visa, Inc. .........................................  | Stück | 462 |  | 107 | USD | 191,36 | 88 408,32 | 1,50 |
| Vistra Energy Corp. ................................  | Stück | 822 |  |  | USD | 18,44 | 15 157,68 | 0,26 |
| Walt Disney Co./The ................................  | Stück | 148 |  | 392 | USD | 110,98 | 16 425,04 | 0,28 |
| Waste Management, Inc. ............................  | Stück | 132 |  |  | USD | 104,16 | 13 749,12 | 0,23 |
| WEC Energy Group, Inc. ............................  | Stück | 446 |  |  | USD | 87,07 | 38 833,22 | 0,66 |

| Wertpapierbezeichnung | Stück bzw. Anteile bzw. Währung | Nominalbetrag bzw. Bestand | Käufe/ Zugänge im | Verkäufe/ Abgänge Berichtszeitraum | Währung | Kurs | Kurswert in USD | %-Anteil am Fonds- vermögen |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Williams Cos, Inc./The ..............................  | Stück | 641 |  |  | USD | 18,16 | 11 640,56 | 0,20 |
| Xcel Energy, Inc. ..................................  | Stück | 215 |  |  | USD | 62,73 | 13 486,95 | 0,23 |
| Yum! Brands, Inc. ..................................  | Stück | 162 |  |  | USD | 86,28 | 13 977,36 | 0,24 |
| Summe Wertpapiervermögen |  |  |  |  |  |  | 5 845 949,92 | 99,34 |
| Bankguthaben |  |  |  |  |  |  | 4 010,69 | 0,07 |
| Guthaben in Nicht-EU/EWR-Währungen |  |  |  |  |  |  |  |  |
| US-Dollar .........................................  | USD |  |  |  |  |  | 4 010,69 | 0,07 |
| Sonstige Vermögensgegenstände |  |  |  |  |  |  | 75 496,34 | 1,28 |
| Dividenden- / Ausschüttungsansprüche .................  |  |  |  |  |  |  | 2 449,66 | 0,04 |
| Forderungen aus der Überschreitung des „Expense Cap“ ..  |  |  |  |  |  |  | 73 046,68 | 1,24 |
| Summe der Vermögensgegenstände |  |  |  |  |  |  | 5 925 456,95 | 100,69 |
| Sonstige Verbindlichkeiten |  |  |  |  |  |  | -40 423,30 | -0,69 |
| Verbindlichkeiten aus Kostenpositionen .................  |  |  |  |  |  |  | -40 423,30 | -0,69 |
| Summe der Verbindlichkeiten |  |  |  |  |  |  | -40 423,30 | -0,69 |
| Fondsvermögen |  |  |  |  |  |  | 5 885 033,65 | 100,00 |

Durch Rundung der Prozentanteile bei der Berechnung können geringfügige Rundungsdifferenzen entstanden sein.
Eine Aufstellung über die während des Berichtszeitraums abgeschlossenen Geschäfte, soweit sie nicht mehr in der Vermögensaufstellung erscheinen, ist auf Anforderung kostenlos bei der Verwaltungsgesellschaft erhältlich.
| Anteilwert bzw. umlaufende Anteile | Stück bzw. Währung | Anteilwert in der jeweiligen Währung |
| --- | --- | --- |
| Anteilwert Klasse USD IC ....................................  | USD | 106,04 |
| Klasse USD RC ....................................  | USD | 105,56 |
| Umlaufende Anteile Klasse USD IC ....................................  | Stück | 55 389,000 |
| Klasse USD RC ....................................  | Stück | 111,000 |

Zusammensetzung des Referenzportfolios (gem. CSSF-Rundschreiben 11/512) MSCI Developed - US Net TR Index
Potenzieller Risikobetrag für das Marktrisiko (gem. CSSF-Rundschreiben 11/512)
| kleinster potenzieller Risikobetrag .....................  | % | 92,832 |
| --- | --- | --- |
| größter potenzieller Risikobetrag ......................  | % | 100,566 |
| durchschnittlicher potenzieller Risikobetrag ..............  | % | 96,917 |

Die Risikokennzahlen wurden für den Zeitraum vom 1.1.2020 bis 30.6.2020 auf Basis der Methode der historischen Simulation mit den Parametern 99% Konfidenzniveau, 10 Tage Haltedauer unter Verwendung eines effektiven, historischen Beobachtungszeitraumes von einem Jahr berechnet. Als Bewertungsmaßstab wird das Risiko eines derivatefreien Vergleichsvermögens herangezogen. Unter dem Marktrisiko versteht man das Risiko, das sich aus der ungünstigsten Entwicklung von Marktpreisen für das Fondsvermögen ergibt. Bei der Ermittlung des Marktrisikopotenzials wendet die Gesellschaft den relativen Value at Risk-Ansatzim Sinne des CSSF-Rundschreibens 11/512 an.
Die durchschnittliche Hebelwirkung aus der Nutzung von Derivaten betrug im Berichtszeitraum 0,0, wobei zur Berechnung die Summe der Nominalbeträge der Derivate in Relation zum Fondsvermögen gesetzt wurde (Nominalwertmethode).
Das durch Derivate erzielte zugrundeliegende Exposure gem. Punkt 40 a) der „Leitlinien zu börsengehandelten Indexfonds und anderen OGAW-Themen“ der European Securities and Markets Authority (ESMA) belief sich zum Berichtsstichtag unter Zugrundelegung einer Bruttobetrachtung auf USD 0,00.
 Erläuterungen zur Bewertung	
Die Anteilwerte werden in Verantwortung des Verwaltungsrats der SICAV durch die Verwaltungsgesellschaft ermittelt sowie die Bewertung der Vermögenswerte des Fondsvermögens durchgeführt. Die grundsätzliche Kursversorgung sowie die Preisvalidierung erfolgen nach den vom Verwaltungsrat der SICAV auf der Grundlage der in den gesetzlichen Bestimmungen/ Verordnungen bzw. im Prospekt der SICAV definierten Grundsätze für Bewertungsmethoden eingeführten Verfahren.
Sofern keine handelbaren Kurse vorliegen, werden Bewertungsmodelle zur Preisermittlung (abgeleitete Verkehrswerte) genutzt, die zwischen State Street Bank International GmbH, Luxembourg Branch, als externem Price Service Provider und der Verwaltungsgesellschaft abgestimmt sind und sich so weit als möglich auf Marktparameter stützen. Diese Vorgehensweise unterliegt einem permanenten Kontrollprozess. Preisauskünfte Dritter werden durch andere Preisquellen, modellhafte Rechnungen oder durch andere geeignete Verfahren auf Plausibilität geprüft.
Die in diesem Bericht ausgewiesenen Vermögenswerte werden nicht zu abgeleiteten Verkehrswerten bewertet.