# EDGAR Filing Document

**Accession Number:** 0000095603
**File Stem:** 0000088053-26-000440
**Filing Date:** 2026-6
**Character Count:** 116450
**Document Hash:** e07b0c0c2d30652bc88a94d9fddfb722
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000088053-26-000440.hdr.sgml**: 20260602

**ACCESSION NUMBER**: 0000088053-26-000440

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 18

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260602

**DATE AS OF CHANGE**: 20260602

**EFFECTIVENESS DATE**: 20260602

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DEUTSCHE DWS MARKET TRUST
- **CENTRAL INDEX KEY:** 0000095603

**ORGANIZATION NAME:**
- **EIN:** 366103490
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-01236
- **FILM NUMBER:** 261055602

**BUSINESS ADDRESS:**
- **STREET 1:** 875 THIRD AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022-6225
- **BUSINESS PHONE:** 212-454-4500

**MAIL ADDRESS:**
- **STREET 1:** 875 THIRD AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022-6225

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DEUTSCHE MARKET TRUST
- **DATE OF NAME CHANGE:** 20140811

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DWS MARKET TRUST
- **DATE OF NAME CHANGE:** 20110203

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DWS BALANCED FUND
- **DATE OF NAME CHANGE:** 20060207

## Series and Classes Contracts Data

### DWS RREEF Completion Fund I (Series ID: S000089425)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000255958 | DWS RREEF Completion Fund I | RASFX           |

?xml version='1.0' encoding='ASCII'? Consolidated ssr-output-EDGAR XBRL File

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D. C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF

REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number: 811-01236

<u>Deutsche DWS Market Trust</u>

(Exact Name of Registrant as Specified in Charter)

875 Third Avenue

<u>New York, NY 10022-6225</u>

(Address of Principal Executive Offices) (Zip Code)

Registrant's Telephone Number, including Area Code: <u>(212) 454-4500</u>

Diane Kenneally

100 Summer Street

<u>Boston, MA 02110</u>

(Name and Address of Agent for Service)

Date of fiscal year end: 3/31 <br>Date of reporting period: 3/31/2026

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Item 1.** | &nbsp;&nbsp;**Reports to Stockholders.** |
|  | &nbsp;&nbsp;(a) |

---

# DWS RREEF Completion Fund I

# TICKER: RASFX

## Annual Shareholder Report — March 31, 2026
![Image](i42508c9d15202c626e0e50d8.jpg)

This annual shareholder report contains important information about DWS RREEF Completion Fund I (the "Fund") for the period February 12, 2026 to March 31, 2026. You can find additional information about the Fund on the Fund's website at dws.com/mutualreports. You can also request this information by contacting us at (800) 728-3337.

## What were the Fund costs for the last period?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Fund | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Fund | $0<sup>Footnote Reference(a)</sup> | 0.00%<sup>Footnote Reference(b)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;Based on the period February 12, 2026 (commencement of operations) through March 31, 2026. |
| &nbsp;&nbsp;Footnote<sup>(b)</sup> | &nbsp;&nbsp;Annualized. |

---

Gross expense ratio as of the latest prospectus: 0.35%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher. Fund costs do not reflect any compensation paid by wrap program sponsors or clients for separately managed account advisory services.

## How did the Fund perform last year and what affected its performance?
The Fund had negative returns for the period ended March 31, 2026, underperforming the Fund's broad-based and more narrowly based indexes. The Fund's broad-based index, the MSCI World ex USA Index, returned -8.41% for the same period, while the Fund's additional, more narrowly based index, the Blended Index, returned -5.14%.

The Fund's negative total return reflected the challenging market environment that existed during the abbreviated reporting period. The start of the war in Iran weighed heavily on the financial markets, leading to negative returns across most areas in which the Fund invests. Its holdings in global real estate stocks, in particular, were hurt by the spike in interest rates caused by rising oil prices and expectations for higher inflation. CTP NV (1.2%), British Land Co. PLC (1.4%), and Mitsui Fudosan Co., Ltd. (2.7%) were the largest individual detractors in this segment of the Fund. On the other hand, Sun Hung Kai Properties Ltd. (2.8%) contributed positively.

Holdings in global infrastructure stocks held up somewhat better, primarily due to their strong showing in the time from the Fund's inception to the start of the war on March 1. The Canadian energy infrastructure company Keyera Corp. (3.1%) produced a gain and was a notable contributor in this area. Aena SME SA (3.4%), an airport operator based in Spain, was a notable detractor. Zero weightings in a number of pipeline operators hurt relative performance, as well.

Global natural resources stocks also lost ground as a group, with Ivanhoe Mines Ltd. (1.5%) and Capstone Copper Cop. (1.4%) having the largest adverse impact. The Norwegian aluminum producer Norsk Hydro ASA (2.2%) delivered a gain and contributed to performance, as did the European commodity trading and mining company Glencore PLC (2.3%).

## Key Fund Statistics

---

| | |
|:---|:---|
| Net Assets ($) | 1822514 |
| Number of Portfolio Holdings | 62 |
| Portfolio Turnover Rate (%) | 12 |
| Total Net Advisory Fees Paid ($) | 0 |

---

## What did the Fund invest in?

### **Asset Allocation** 

---

| | |
|:---|:---|
| **Asset Type** | **% of Net Assets** |
| Common Stocks | 96% |
| Cash Equivalents | 3% |
| Other Assets and Liabilities, Net | 1% |
| Total | 100% |

---

Holdings-based data is subject to change.

### **Sector Allocation** 

---

| | |
|:---|:---|
| **Sector** | **% of Net Assets** |
| Real Estate | 44% |
| Utilities | 17% |
| Industrials | 14% |
| Materials | 13% |
| Communication Services | 5% |
| Energy | 3% |
| Health Care | 1% |

---

### **Geographical Diversification** 

---

| | |
|:---|:---|
| **Country** | **% of Net Assets** |
| Japan | 14% |
| Australia | 10% |
| Spain | 10% |
| Hong Kong | 9% |
| Canada | 9% |
| United Kingdom | 7% |
| France | 7% |
| Singapore | 5% |
| Switzerland | 5% |
| Germany | 5% |
| Other | 16% |

---

### **Top Ten Holdings** 

---

| | |
|:---|:---|
| **Holdings** | **33.6% of Net Assets** |
| Vinci SA (France) | 5.1% |
| Transurban Group (Australia) | 4.3% |
| E.ON SE (Germany) | 3.5% |
| Aena SME SA (Spain) | 3.4% |
| Cellnex Telecom SA (Spain) | 3.4% |
| Keyera Corp. (Canada) | 3.1% |
| Sun Hung Kai Properties Ltd. (Hong Kong) | 2.8% |
| Severn Trent PLC (United Kingdom) | 2.8% |
| Mitsui Fudosan Co., Ltd. (Japan) | 2.7% |
| Swiss Prime Site AG (Switzerland) | 2.5% |

---

## Additional Information
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, Board fee evaluation reports, and financial statements and other information, please visit dws.com/mutualreports. For information about the Fund's proxy voting policies and procedures and how the Fund voted proxies related to its portfolio securities, please visit dws.com/en-us/resources/proxy-voting. The Fund was established exclusively for use within separately managed accounts ("SMAs"). The Fund is used in combination with selected individual securities to implement the SMA's investment program. Shares of the Fund may be purchased only by and on behalf of "wrap" account clients ("eligible investors") where the fund's subadvisor has an agreement to serve as investment adviser to the wrap program sponsor (typically a registered investment adviser or broker-dealer) or directly to the wrap account clients of the wrap program sponsor. This additional information is also available free of charge by contacting us at (800) 728-3337.

Stocks may decline in value. Investing in foreign securities presents certain risks, such as currency fluctuations, political and economic changes, and market risks. There are special risks associated with an investment in real estate, including REITS. Companies in the infrastructure, transportation, energy, and utility industries may be affected by a variety of factors, including, but not limited to, high interest costs, energy prices, high degrees of leverage, environmental and other government regulations, the level of government spending on infrastructure projects, intense competition and other factors. Any fund that concentrates in a particular segment of the market will generally be more volatile than a fund that invests more broadly. This Fund is non-diversified and can take larger positions in fewer issues, increasing its potential risk. Please read the prospectus for details.

**This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's objectives, risks, charges, and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (800) 728-3337, contacting your financial representative, or visit dws.com/mutualreports to view or download a prospectus. Please read the prospectus carefully before you invest.**

## 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.

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

## **DRCF** - **TSRA** 

## R-109928-1 (05/26)

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;(b) Not applicable |
| &nbsp;&nbsp;**Item 2.** | &nbsp;&nbsp;**Code of Ethics.** |
|  | &nbsp;&nbsp; As of the end of the period covered by this report, the registrant has adopted a code of ethics, as defined in Item 2 of Form N-CSR that applies to its Principal Executive Officer and Principal Financial Officer.<br>There have been no amendments to, or waivers from, a provision of the code of ethics during the period covered by this report that would require disclosure under Item 2.<br>A copy of the code of ethics is filed as an exhibit to this Form N-CSR. |
| &nbsp;&nbsp;**Item 3.** | &nbsp;&nbsp;**Audit Committee Financial Expert.** |
|  | &nbsp;&nbsp;The fund's audit committee is comprised solely of trustees who are "independent" (as such term has been defined by the Securities and Exchange Commission ("SEC") in regulations implementing Section 407 of the Sarbanes-Oxley Act (the "Regulations")). The fund's Board of Trustees has determined that there are several "audit committee financial experts" (as such term has been defined by the Regulations) serving on the fund's audit committee including Ms. Catherine Schrand, the chair of the fund's audit committee. An "audit committee financial expert" is not an "expert" for any purpose, including for purposes of Section 11 of the Securities Act of 1933 and the designation or identification of a person as an "audit committee financial expert" does not impose on such person any duties, obligations or liability that are greater than the duties, obligations and liability imposed on such person as a member of the audit committee and board of directors in the absence of such designation or identification. |
| &nbsp;&nbsp;**Item 4.** | &nbsp;&nbsp;**Principal Accountant Fees and Services.** |

---

**DWS RREEF Completion Fund I**

**form n-csr disclosure re: AUDIT FEES**

The following table shows the amount of fees that Ernst & Young LLP ("EY"), the Fund's Independent Registered Public Accounting Firm, billed to the Fund during the Fund's last two fiscal years. The Audit Committee approved in advance all audit services and non-audit services that EY provided to the Fund.

**Services that the Fund's Independent Registered Public Accounting Firm Billed to the Fund**

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Fiscal Year<br> Ended<br> March 31, | &nbsp;&nbsp;Audit Fees Billed to Fund | &nbsp;&nbsp;Audit-Related<br> Fees Billed to Fund | &nbsp;&nbsp;Tax Fees Billed to Fund | &nbsp;&nbsp;All<br> Other Fees Billed to Fund |
| &nbsp;&nbsp;2026\* | &nbsp;&nbsp;$47000 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$0 |
| &nbsp;&nbsp;2025 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$0 |

---

\*Fund commenced on February 12, 2026.

**Services that the Fund's Independent Registered Public Accounting Firm Billed to the Adviser and Affiliated Fund Service Providers**

The following table shows the amount of fees billed by EY to DWS Investment Management Americas, Inc. ("DIMA" or the "Adviser"), and any entity controlling, controlled by or under common control with DIMA ("Control Affiliate") that provides ongoing services to the Fund ("Affiliated Fund Service Provider"), for engagements directly related to the Fund's operations and financial reporting, during the Fund's last two fiscal years.

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;Fiscal Year<br> Ended<br> March 31, | &nbsp;&nbsp;Audit-Related<br> Fees Billed to Adviser and Affiliated Fund Service Providers | &nbsp;&nbsp;Tax Fees Billed to Adviser and Affiliated Fund Service Providers | &nbsp;&nbsp;All<br> Other Fees Billed to Adviser and Affiliated Fund Service Providers |
| &nbsp;&nbsp;2026 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$588231 | &nbsp;&nbsp;$0 |
| &nbsp;&nbsp;2025 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$1369569 | &nbsp;&nbsp;$0 |

---

The above "Tax Fees" were billed in connection with tax compliance services and agreed upon procedures.

**Non-Audit Services**

The following table shows the amount of fees that EY billed during the Fund's last two fiscal years for non-audit services. The Audit Committee pre-approved all non-audit services that EY provided to the Adviser and any Affiliated Fund Service Provider that related directly to the Fund's operations and financial reporting. The Audit Committee requested and received information from EY about any non-audit services that EY rendered during the Fund's last fiscal year to the Adviser and any Affiliated Fund Service Provider. The Committee considered this information in evaluating EY's independence.

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Fiscal Year<br> Ended<br> March 31, | &nbsp;&nbsp;Total <br> Non-Audit Fees Billed to Fund<br> (A) | &nbsp;&nbsp;Total Non-Audit Fees billed to Adviser and Affiliated Fund Service Providers (engagements related directly to the operations and financial reporting of the Fund)<br> (B) | &nbsp;&nbsp;Total Non-Audit Fees billed to Adviser and Affiliated Fund Service Providers (all other engagements)<br> (C) | &nbsp;&nbsp;Total of <br> (A), (B) and (C) |
| &nbsp;&nbsp;2026 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$588231 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$588231 |
| &nbsp;&nbsp;2025 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$1369569 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$1369569 |

---

All other engagement fees were billed for services in connection with agreed upon procedures and tax compliance for DIMA and other related entities.

Audit Committee Pre-Approval Policies and Procedures. Generally, each Fund's Audit Committee must pre approve (i) all services to be performed for a Fund by a Fund's Independent Registered Public Accounting Firm and (ii) all non-audit services to be performed by a Fund's Independent Registered Public Accounting Firm for the DIMA Entities with respect to operations and financial reporting of the Fund, except that the Chairperson or Vice Chairperson of each Fund's Audit Committee may grant the pre-approval for non-audit services described in items (i) and (ii) above for non-prohibited services for engagements of less than $100,000. All such delegated pre approvals shall be presented to each Fund's Audit Committee no later than the next Audit Committee meeting.

There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception under Rule 2-01 of Regulation S-X.

According to the registrant's principal Independent Registered Public Accounting Firm, substantially all of the principal Independent Registered Public Accounting Firm's hours spent on auditing the registrant's financial statements were attributed to work performed by full-time permanent employees of the principal Independent Registered Public Accounting Firm and (i) and (j) are not applicable.

\*\*\*

In connection with the audit of the 2025 and 2026 financial statements, the Fund entered into an engagement letter with EY. The terms of the engagement letter required by EY, and agreed to by the Audit Committee, include a provision mandating the use of mediation and arbitration to resolve any controversy or claim between the parties arising out of or relating to the engagement letter or services provided thereunder.

\*\*\*

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Item 5.** | &nbsp;&nbsp;**Audit Committee of Listed Registrants** |
|  | &nbsp;&nbsp;Not applicable |
| &nbsp;&nbsp;**Item 6.** | &nbsp;&nbsp;**Investments.** |
|  | &nbsp;&nbsp;Not applicable |
| &nbsp;&nbsp;**Item 7.** | &nbsp;&nbsp;**Financial Statements and Financial Highlights for Open-End Management Investment Companies.** |
|  | &nbsp;&nbsp;(a) |

---

![](img307693c71.jpg)

March 31, 2026

**Annual Financial Statements and Other Information**

**DWS RREEF Completion Fund I**

![](imgf0bb04cc2.jpg)

------

**Contents** 

---

| | |
|:---|:---|
| **3** | [Investment Portfolio](#xx_d495009c-3f4b-480c-ba50-3617b5ffe89e_SOI-CC-Financial-RunningFooter-937_1) |
| **8** | [Statement of Assets and Liabilities](#xx_d495009c-3f4b-480c-ba50-3617b5ffe89e_FS-CC-Financial-RunningFooter-937_1) |
| **9** | [Statement of Operations](#xx_d495009c-3f4b-480c-ba50-3617b5ffe89e_FS-CC-Financial-RunningFooter-937_2) |
| **10** | [Statements of Changes in Net Assets](#xx_d495009c-3f4b-480c-ba50-3617b5ffe89e_FS-CC-Financial-RunningFooter-937_3) |
| **11** | [Financial Highlights](#xx_d495009c-3f4b-480c-ba50-3617b5ffe89e_FIHI-CC-Financial-RunningFooter-937_1) |
| **12** | [Notes to Financial Statements](#xx_d495009c-3f4b-480c-ba50-3617b5ffe89e_NTF-CC-Financial-RunningFooter-937_1) |
| **20** | [Report of Independent Registered Public Accounting Firm](#xx_d495009c-3f4b-480c-ba50-3617b5ffe89e_AUD-CC-Financial-RunningFooter-937_1) |
| **22** | [Tax Information](#xx_d495009c-3f4b-480c-ba50-3617b5ffe89e_FEXPTI-CC-Financial-RunningFooter-937_1) |
| **23** | [Advisory Agreement Board Considerations and Fee Evaluation](#xx_d495009c-3f4b-480c-ba50-3617b5ffe89e_AABCF-CC-Financial-RunningFooter-937_1) |

---

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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **2**  | \|  | DWS RREEF Completion Fund I  |

---

------

**Investment Portfolioas of March 31, 2026**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value ($)** |
| **Common Stocks 96.5%** | **Common Stocks 96.5%** |  |
| **Australia 10.1%** | **Australia 10.1%** |  |
| Dexus | 3070 | &nbsp;&nbsp; 12608 |
| Goodman Group | 2178 | &nbsp;&nbsp; 38981 |
| South32 Ltd. | 12180 | &nbsp;&nbsp; 36602 |
| Transurban Group (Units) | 8040 | &nbsp;&nbsp; 78237 |
| Vicinity Ltd. | 11459 | &nbsp;&nbsp; 18646 |
| (Cost $199,749) |  | &nbsp;&nbsp; **185074** |
| **Belgium 1.0%** | **Belgium 1.0%** |  |
| Aedifica SA (Cost $21,414) | 238 | &nbsp;&nbsp; **19200** |
| **Canada 8.8%** | **Canada 8.8%** |  |
| Capstone Copper Corp.\* | 3285 | &nbsp;&nbsp; 24772 |
| Chartwell Retirement Residences (Units) | 947 | &nbsp;&nbsp; 13697 |
| Choice Properties Real Estate Investment Trust | 1810 | &nbsp;&nbsp; 19985 |
| Granite Real Estate Investment Trust | 317 | &nbsp;&nbsp; 18640 |
| Ivanhoe Mines Ltd. "A" \* | 3210 | &nbsp;&nbsp; 27436 |
| Keyera Corp. | 1440 | &nbsp;&nbsp; 55702 |
| (Cost $186,577) |  | &nbsp;&nbsp; **160232** |
| **China 2.6%** | **China 2.6%** |  |
| China Tower Corp. Ltd. "H" , 144A | 18040 | &nbsp;&nbsp; 24697 |
| ENN Energy Holdings Ltd. | 2705 | &nbsp;&nbsp; 22040 |
| (Cost $49,369) |  | &nbsp;&nbsp; **46737** |
| **Finland 1.4%** | **Finland 1.4%** |  |
| Stora Enso Oyj "R" (Cost $30,453) | 2204 | &nbsp;&nbsp; **25910** |
| **France 7.2%** | **France 7.2%** |  |
| Unibail-Rodamco-Westfield\* | 345 | &nbsp;&nbsp; 38276 |
| Vinci SA | 616 | &nbsp;&nbsp; 92384 |
| (Cost $137,813) |  | &nbsp;&nbsp; **130660** |
| **Germany 4.6%** | **Germany 4.6%** |  |
| E.ON SE | 2871 | &nbsp;&nbsp; 63005 |
| TAG Immobilien AG | 1280 | &nbsp;&nbsp; 20098 |
| (Cost $85,633) |  | &nbsp;&nbsp; **83103** |
| **Hong Kong 8.9%** | **Hong Kong 8.9%** |  |
| Henderson Land Development Co., Ltd. | 4170 | &nbsp;&nbsp; 15449 |
| Hong Kong & China Gas Co., Ltd. | 27080 | &nbsp;&nbsp; 24618 |
| Hongkong Land Holdings Ltd. | 2108 | &nbsp;&nbsp; 16451 |
| Kunlun Energy Co., Ltd. | 16900 | &nbsp;&nbsp; 15437 |

---

The accompanying notes are an integral part of the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| DWS RREEF Completion Fund I  | \|<sub>3</sub> |

---

------

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value ($)** |
| Link REIT | 4945 | &nbsp;&nbsp; 22882 |
| Sun Hung Kai Properties Ltd. | 3112 | &nbsp;&nbsp; 51829 |
| Swire Properties Ltd. | 5300 | &nbsp;&nbsp; 15430 |
| (Cost $171,641) |  | &nbsp;&nbsp; **162096** |
| **Italy 2.1%** | **Italy 2.1%** |  |
| Terna - Rete Elettrica Nazionale (Cost $39,104) | 3405 | &nbsp;&nbsp; **38816** |
| **Japan 14.2%** | **Japan 14.2%** |  |
| Activia Properties, Inc. | 9 | &nbsp;&nbsp; 7977 |
| KDX Realty Investment Corp. | 26 | &nbsp;&nbsp; 26406 |
| Mitsubishi Estate Co., Ltd. | 547 | &nbsp;&nbsp; 15200 |
| Mitsui Fudosan Co., Ltd. | 4581 | &nbsp;&nbsp; 48802 |
| Mitsui Fudosan Logistics Park, Inc. | 50 | &nbsp;&nbsp; 35611 |
| Mori Trust Reit, Inc. | 10 | &nbsp;&nbsp; 4505 |
| Nippon Prologis REIT, Inc. | 52 | &nbsp;&nbsp; 27977 |
| Nomura Real Estate Master Fund, Inc. | 16 | &nbsp;&nbsp; 15790 |
| Sumitomo Realty & Development Co., Ltd. | 1493 | &nbsp;&nbsp; 42434 |
| Tokyo Gas Co., Ltd. | 738 | &nbsp;&nbsp; 34767 |
| (Cost $294,920) |  | &nbsp;&nbsp; **259469** |
| **Netherlands 1.2%** | **Netherlands 1.2%** |  |
| CTP NV 144A (Cost $28,252) | 1260 | &nbsp;&nbsp; **21129** |
| **Norway 2.2%** | **Norway 2.2%** |  |
| Norsk Hydro ASA (Cost $35,870) | 3755 | &nbsp;&nbsp; **40132** |
| **Singapore 5.1%** | **Singapore 5.1%** |  |
| CapitaLand Integrated Commercial Trust | 6510 | &nbsp;&nbsp; 11677 |
| Centurion Accommodation REIT | 27700 | &nbsp;&nbsp; 23916 |
| City Developments Ltd. | 2710 | &nbsp;&nbsp; 17451 |
| Keppel REIT | 25360 | &nbsp;&nbsp; 17615 |
| Lendlease Global Commercial REIT | 15500 | &nbsp;&nbsp; 6474 |
| Mapletree Logistics Trust | 16700 | &nbsp;&nbsp; 15003 |
| (Cost $102,424) |  | &nbsp;&nbsp; **92136** |
| **South Africa 1.7%** | **South Africa 1.7%** |  |
| Anglo American PLC (Cost $36,540) | 732 | &nbsp;&nbsp; **31208** |
| **Spain 9.8%** | **Spain 9.8%** |  |
| Aena SME SA 144A | 2074 | &nbsp;&nbsp; 61730 |
| Cellnex Telecom SA 144A\* | 1906 | &nbsp;&nbsp; 61449 |
| Redeia Corp. SA | 1718 | &nbsp;&nbsp; 29025 |
| Sacyr SA | 5300 | &nbsp;&nbsp; 25960 |
| (Cost $190,945) |  | &nbsp;&nbsp; **178164** |

---

The accompanying notes are an integral part of the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **4**  | \|  | DWS RREEF Completion Fund I  |

---

------

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value ($)** |
| **Sweden 3.4%** | **Sweden 3.4%** |  |
| Catena AB | 376 | &nbsp;&nbsp; 17557 |
| Fastighets AB Balder "B" \* | 3710 | &nbsp;&nbsp; 21710 |
| Svenska Cellulosa AB SCA "B"  | 1346 | &nbsp;&nbsp; 15607 |
| Wihlborgs Fastigheter AB | 823 | &nbsp;&nbsp; 7506 |
| (Cost $73,066) |  | &nbsp;&nbsp; **62380** |
| **Switzerland 4.8%** | **Switzerland 4.8%** |  |
| Glencore PLC\* | 5465 | &nbsp;&nbsp; 41477 |
| Swiss Prime Site AG (Registered) | 269 | &nbsp;&nbsp; 45492 |
| (Cost $84,923) |  | &nbsp;&nbsp; **86969** |
| **United Kingdom 7.4%** | **United Kingdom 7.4%** |  |
| Big Yellow Group PLC | 950 | &nbsp;&nbsp; 10678 |
| British Land Co. PLC | 5560 | &nbsp;&nbsp; 26253 |
| Pennon Group PLC | 3229 | &nbsp;&nbsp; 22757 |
| Segro PLC | 2779 | &nbsp;&nbsp; 23853 |
| Severn Trent PLC | 1250 | &nbsp;&nbsp; 51084 |
| (Cost $152,094) |  | &nbsp;&nbsp; **134625** |
| **Total Common Stocks** (Cost $1,920,787) |  | &nbsp;&nbsp; **1758040** |
| **Cash Equivalents 3.4%** | **Cash Equivalents 3.4%** |  |
| DWS Central Cash Management Government Fund, 3.66% (a) <br> (Cost $62,904)<br>| 62904 | &nbsp;&nbsp; **62904** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **% of** <br>**Net Assets**<br>| **Value ($)** |
| **Total Investment Portfolio** (Cost $1,983,691) | 99.9 | &nbsp;&nbsp; **1820944** |
| **Other Assets and Liabilities, Net** | 0.1 | &nbsp;&nbsp; **1570** |
| **Net Assets** | 100.0 | &nbsp;&nbsp; **1822514** |

---

The accompanying notes are an integral part of the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| DWS RREEF Completion Fund I  | \|<sub>5</sub> |

---

------

A summary of the Fund's transactions with affiliated investments during the period ended March 31, 2026 are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Value ($)** <br>**at** <br>**2/12/2026**<br>| **Pur-** <br>**chases** <br>**Cost** <br>**($)**<br>| **Sales** <br>**Proceeds** <br>**($)**<br>| **Net** <br>**Real-** <br>**ized** <br>**Gain/** <br>**(Loss)** <br>**($)**<br>| **Net** <br>**Change** <br>**in** <br>**Unreal-** <br>**ized** <br>**Appreci-** <br>**ation** <br>**(Depreci-** <br>**ation)** <br>**($)**<br>| **Income** <br>**($)**<br>| **Capital** <br>**Gain** <br>**Distri-** <br>**butions** <br>**($)**<br>| **Number of** <br>**Shares at** <br>**3/31/2026**<br>| **Value ($)** <br>**at** <br>**3/31/2026**<br>|
| **Cash Equivalents 3.4%** | **Cash Equivalents 3.4%** | **Cash Equivalents 3.4%** | **Cash Equivalents 3.4%** | **Cash Equivalents 3.4%** | **Cash Equivalents 3.4%** | **Cash Equivalents 3.4%** | **Cash Equivalents 3.4%** | **Cash Equivalents 3.4%** |
| DWS Central Cash Management Government Fund, 3.66% (a) | DWS Central Cash Management Government Fund, 3.66% (a) | DWS Central Cash Management Government Fund, 3.66% (a) | DWS Central Cash Management Government Fund, 3.66% (a) | DWS Central Cash Management Government Fund, 3.66% (a) | DWS Central Cash Management Government Fund, 3.66% (a) | DWS Central Cash Management Government Fund, 3.66% (a) | DWS Central Cash Management Government Fund, 3.66% (a) | DWS Central Cash Management Government Fund, 3.66% (a) |
|  | 1901624 | 1838720 |  |  | 332 |  | 62904 | 62904 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Non-income producing security. <br> (a) Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

144A: Security exempt from registration under Rule 144A under the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. <br> REIT: Real Estate Investment Trust

The accompanying notes are an integral part of the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **6**  | \|  | DWS RREEF Completion Fund I  |

---

------

**Fair Value Measurements**

Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.

The following is a summary of the inputs used as of March 31, 2026 in valuing the Fund's investments. For information on the Fund's policy regarding the valuation of investments, please refer to the Security Valuation section of Note A in the accompanying Notes to Financial Statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Common Stocks |  |  |  |  |
| Australia | &nbsp;&nbsp; $— | &nbsp;&nbsp; $185074 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $185074 |
| Belgium | &nbsp;&nbsp; — | &nbsp;&nbsp; 19200 | &nbsp;&nbsp; — | &nbsp;&nbsp; 19200 |
| Canada | &nbsp;&nbsp; 160232 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 160232 |
| China | &nbsp;&nbsp; — | &nbsp;&nbsp; 46737 | &nbsp;&nbsp; — | &nbsp;&nbsp; 46737 |
| Finland | &nbsp;&nbsp; — | &nbsp;&nbsp; 25910 | &nbsp;&nbsp; — | &nbsp;&nbsp; 25910 |
| France | &nbsp;&nbsp; — | &nbsp;&nbsp; 130660 | &nbsp;&nbsp; — | &nbsp;&nbsp; 130660 |
| Germany | &nbsp;&nbsp; — | &nbsp;&nbsp; 83103 | &nbsp;&nbsp; — | &nbsp;&nbsp; 83103 |
| Hong Kong | &nbsp;&nbsp; — | &nbsp;&nbsp; 162096 | &nbsp;&nbsp; — | &nbsp;&nbsp; 162096 |
| Italy | &nbsp;&nbsp; — | &nbsp;&nbsp; 38816 | &nbsp;&nbsp; — | &nbsp;&nbsp; 38816 |
| Japan | &nbsp;&nbsp; — | &nbsp;&nbsp; 259469 | &nbsp;&nbsp; — | &nbsp;&nbsp; 259469 |
| Netherlands | &nbsp;&nbsp; — | &nbsp;&nbsp; 21129 | &nbsp;&nbsp; — | &nbsp;&nbsp; 21129 |
| Norway | &nbsp;&nbsp; — | &nbsp;&nbsp; 40132 | &nbsp;&nbsp; — | &nbsp;&nbsp; 40132 |
| Singapore | &nbsp;&nbsp; — | &nbsp;&nbsp; 92136 | &nbsp;&nbsp; — | &nbsp;&nbsp; 92136 |
| South Africa | &nbsp;&nbsp; — | &nbsp;&nbsp; 31208 | &nbsp;&nbsp; — | &nbsp;&nbsp; 31208 |
| Spain | &nbsp;&nbsp; — | &nbsp;&nbsp; 178164 | &nbsp;&nbsp; — | &nbsp;&nbsp; 178164 |
| Sweden | &nbsp;&nbsp; — | &nbsp;&nbsp; 62380 | &nbsp;&nbsp; — | &nbsp;&nbsp; 62380 |
| Switzerland | &nbsp;&nbsp; — | &nbsp;&nbsp; 86969 | &nbsp;&nbsp; — | &nbsp;&nbsp; 86969 |
| United Kingdom | &nbsp;&nbsp; — | &nbsp;&nbsp; 134625 | &nbsp;&nbsp; — | &nbsp;&nbsp; 134625 |
| Short-Term Investments | &nbsp;&nbsp; 62904 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 62904 |
| **Total** | &nbsp;&nbsp; **$223136** | &nbsp;&nbsp; **$1597808** | &nbsp;&nbsp; **$**— | &nbsp;&nbsp; **$1820944** |

---

The accompanying notes are an integral part of the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| DWS RREEF Completion Fund I  | \|<sub>7</sub> |

---

------

**Statement of Assets and Liabilities**

as of March 31, 2026

------

---

| | |
|:---|:---|
| **Assets** |  |
| Investments in non-affiliated securities, at value (cost $1,920,787) | $1758040 |
| Investment in DWS Central Cash Management Government Fund <br> (cost $62,904)<br>| 62904 |
| Cash | 6598 |
| Foreign currency, at value (cost $1,702) | 1704 |
| Receivable for investments sold | 3153 |
| Dividends receivable | 4014 |
| Foreign taxes recoverable | 252 |
| Due from Advisor | 44724 |
| Total assets | 1881389 |
| **Liabilities** |  |
| Accrued Trustees' fees | 173 |
| Other accrued expenses and payables | 58702 |
| Total liabilities | 58875 |
| **Net assets, at value** | **$1822514** |
| **Net Assets Consist of** |  |
| Distributable earnings (loss) | (177486)<br>|
| Paid-in capital | 2000000 |
| **Net assets, at value** | **$1822514** |
| **Net Asset Value** |  |
| **Class A** |  |
| **Net Asset Value,** offering and redemption price per share <br>($1,822,514 ÷ 200,000 outstanding shares of beneficial interest, <br> no par value, shares authorized)<br>| **$9.11** |

---

The accompanying notes are an integral part of the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **8**  | \|  | DWS RREEF Completion Fund I  |

---

------

**Statement of Operations**

for the period from February 12, 2026 (commencement of operations) through March 31, 2026.

------

---

| | |
|:---|:---|
| **Investment Income** |  |
| Income: |  |
| Dividends (net of foreign taxes withheld of $755) | $7423 |
| Income distributions — DWS Central Cash Management Government Fund | 332 |
| Total income | 7755 |
| Expenses: |  |
| Administration fee | 239 |
| Services to shareholders | 113 |
| Custodian fee | 423 |
| Audit fee | 47000 |
| Legal fees | 4119 |
| Tax fees | 5600 |
| Reports to shareholders | 2278 |
| Trustees' fees and expenses | 688 |
| Other | 2212 |
| Total expenses before expense reductions | 62672 |
| Expense reductions | (62672)<br>|
| Total expenses after expense reductions | 0 |
| **Net investment income** | **7755** |
| **Realized and Unrealized Gain (Loss)** |  |
| Net realized gain (loss) from: |  |
| Investments | (22037)<br>|
| Foreign currency | (441)<br>|
|  | (22478)<br>|
| Change in net unrealized appreciation (depreciation) on: |  |
| Investments | (162747)<br>|
| Foreign currency | (16)<br>|
|  | (162763)<br>|
| **Net gain (loss)** | **(185241)**<br>|
| **Net increase (decrease) in net assets resulting from operations** | **$(177486)**<br>|

---

The accompanying notes are an integral part of the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| DWS RREEF Completion Fund I  | \|<sub>9</sub> |

---

------

**Statements of Changes in Net Assets** 

---

| | |
|:---|:---|
|  | **Period Ended** |
| **Increase (Decrease) in Net Assets** | **3/31/26**<sup>a</sup> <br>|
| Operations: |  |
| Net investment income | $7755 |
| Net realized gain (loss) | (22478)<br>|
| Change in net unrealized appreciation <br>(depreciation)<br>| (162763)<br>|
| Net increase (decrease) in net assets resulting from operations | (177486)<br>|
| Net assets at beginning of period (initial capital) | 2000000 |
| **Net assets at end of period** | **$1822514** |
| **Other Information:** |  |
| Shares outstanding at beginning of period (initial contribution) | 200000 |
| Shares outstanding at end of period | **200000** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>a</sup> For the period from February 12, 2026 (commencement of operations) through March 31, 2026.

The accompanying notes are an integral part of the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **10**  | \|  | DWS RREEF Completion Fund I  |

---

------

**Financial Highlights** 

---

| | |
|:---|:---|
| **DWS RREEF Completion Fund I** | **DWS RREEF Completion Fund I** |
|  | **Period** <br>**Ended**<br>|
|  | **3/31/26**<sup>a</sup> <br>|
| **Selected Per Share Data** | **Selected Per Share Data** |
| **Net asset value, beginning of period** | **$10.00** |
| Income (loss) from investment operations: |  |
| Net investment income<sup>b</sup> <br>| .04 |
| Net realized and unrealized gain (loss) | (.93)<br>|
| **Total from investment operations** | (.89)<br>|
| **Net asset value, end of period** | **$9.11** |
| Total Return (%) | (8.90 )<sup>\*</sup><br>|
| **Ratios to Average Net Assets and Supplemental Data** | **Ratios to Average Net Assets and Supplemental Data** |
| Net assets, end of period ($ millions) | 2 |
| Ratio of expenses before expense reductions (%) | 6.83 <br><sup>\*\*</sup><br>|
| Ratio of expenses after expense reductions (%) | .00 <br><sup>\*\*</sup><br>|
| Ratio of net investment income (%) | 3.14 <br><sup>\*\*</sup><br>|
| Portfolio turnover rate (%) | 12 <br><sup>\*</sup><br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| <sup>a</sup> | &nbsp;&nbsp; For the period from February 12, 2026 (commencement of operations) through <br> March 31, 2026.<br>|
| <sup>b</sup> | Based on average shares outstanding during the period. |
| <sup>\*</sup> | Not annualized |
| <sup>\*\*</sup> | Annualized |

---

The accompanying notes are an integral part of the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| DWS RREEF Completion Fund I  | \|<sub>11</sub> |

---

------

**Notes to Financial Statements** 

**A.** **Organization and Significant Accounting Policies**

DWS RREEF Completion Fund I (the "Fund") is a non-diversified series of Deutsche DWS Market Trust (the "Trust"), which is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company organized as a Massachusetts business trust.

Shares of the Fund may be purchased only by and on behalf of "wrap" account clients ("eligible investors") where RREEF America L.L.C., the Fund's subadvisor, has an agreement to serve as investment adviser to the wrap program sponsor (typically a registered investment adviser or broker-dealer) or directly to the wrap account clients of the wrap program sponsor.

The Fund's financial statements are prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") which require the use of management estimates. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund qualifies as an investment company under Topic 946 of Accounting Standards Codification of U.S. GAAP. The policies described below are followed consistently by the Fund in the preparation of its financial statements.

**Operating Segment.** The Fund adopted FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures ("ASU 2023-07"). ASU 2023-07 impacts financial statement disclosures only and does not affect the Fund's financial position or the results of its operations. An operating segment is defined in Topic 280 as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the public entity's chief operating decision maker (CODM) to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available. The President and Chief Executive Officer acts as the Fund's CODM. The Fund represents a single operating segment, as the CODM monitors the operating results of the Fund as a whole, and the Fund's long-term strategic asset allocation is pre-determined in accordance with the terms of its prospectus, based on a defined investment strategy that is executed by the Fund's portfolio managers as a team. The financial information in the form of the Fund's portfolio composition, total returns, expense ratios and changes in net asset (i.e., changes in net assets resulting from operations, subscriptions and redemptions), which are used by the CODM to assess the segment's performance versus the Fund's comparative benchmarks and to make

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **12**  | \|  | DWS RREEF Completion Fund I  |

---

------

resource allocation decisions for the Fund's single segment, is consistent with that presented within the Fund's financial statements. Segment assets are reflected on the accompanying Statement of Assets and Liabilities as "total assets" and results of operations and significant segment expenses are listed on the accompanying Statement of Operations.

**Security Valuation.** Investments are stated at value determined as of the close of regular trading on the New York Stock Exchange on each day the exchange is open for trading.

The Fund's Board has designated DWS Investment Management Americas, Inc. (the "Advisor") as the valuation designee for the Fund pursuant to Rule 2a-5 under the 1940 Act. The Advisor's Pricing Committee (the "Pricing Committee") typically values securities using readily available market quotations or prices supplied by independent pricing services (which are considered fair values under Rule 2a-5). The Advisor has adopted fair valuation procedures that provide methodologies for fair valuing securities.

Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.

Equity securities are valued at the most recent sale price or official closing price reported on the exchange (U.S. or foreign) or over-the-counter market on which they trade. Securities for which no sales are reported are valued at the calculated mean between the most recent bid and asked quotations on the relevant market or, if a mean cannot be determined, at the most recent bid quotation. Equity securities are generally categorized as Level 1. For certain international equity securities, in order to adjust for events which may occur between the close of the foreign exchanges and the close of the New York Stock Exchange, a fair valuation model may be used. This fair valuation model takes into account comparisons to the valuation of American Depository Receipts (ADRs), exchange-traded funds, futures contracts and certain indices and these securities are categorized as Level 2.

Investments in open-end investment companies are valued at their net asset value each business day and are categorized as Level 1.

Securities and other assets for which market quotations are not readily available or for which the above valuation procedures are deemed not to reflect fair value are valued in a manner that is intended to reflect their fair

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| DWS RREEF Completion Fund I  | \|<sub>13</sub> |

---

------

value as determined in accordance with procedures approved by the Pricing Committee and are generally categorized as Level 3. In accordance with the Fund's valuation procedures, factors considered in determining value may include, but are not limited to, the type of the security; the size of the holding; the initial cost of the security; the existence of any contractual restrictions on the security's disposition; the price and extent of public trading in similar securities of the issuer or of comparable companies; quotations or evaluated prices from broker-dealers and/or pricing services; information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities); an analysis of the company's or issuer's financial statements; an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold; and with respect to debt securities, the maturity, coupon, creditworthiness, currency denomination and the movement of the market in which the security is normally traded. The value determined under these procedures may differ from published values for the same securities.

Disclosure about the classification of fair value measurements is included in a table following the Fund's Investment Portfolio.

**Foreign Currency Translations.** The books and records of the Fund are maintained in U.S. dollars. Investment securities and other assets and liabilities denominated in a foreign currency are translated into U.S. dollars at the prevailing exchange rates at period end. Purchases and sales of investment securities, income and expenses are translated into U.S. dollars at the prevailing exchange rates on the respective dates of the transactions.

Net realized and unrealized gains and losses on foreign currency transactions represent net gains and losses between trade and settlement dates on securities transactions, the acquisition and disposition of foreign currencies, and the difference between the amount of net investment income accrued and the U.S. dollar amount actually received. The portion of both realized and unrealized gains and losses on investments that results from fluctuations in foreign currency exchange rates is not separately disclosed but is included with net realized and unrealized gain/appreciation and loss/depreciation on investments.

**Tax Information.** The Fund's policy is to comply with the requirements of the Internal Revenue Code of 1986, as amended, which are applicable to regulated investment companies, and to distribute all of its taxable income to its shareholders.

Additionally, the Fund may be subject to taxes imposed by the governments of countries in which it invests and are generally based on income and/or capital gains earned or repatriated. Estimated tax liabilities on certain foreign securities are recorded on an accrual basis and are reflected as components of interest income or net change in unrealized

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **14**  | \|  | DWS RREEF Completion Fund I  |

---

------

gain/loss on investments. Tax liabilities realized as a result of security sales are reflected as a component of net realized gain/loss on investments.

At March 31, 2026, the Fund had net tax basis capital loss carryforwards of $20,081 of short-term losses, which may be applied against realized net taxable capital gains indefinitely.

The Fund files tax returns with the Internal Revenue Service, the State of New York, and various other states. Specific to U.S. federal and state taxes, generally, each of the tax years since the Fund's inception remains subject to examination by taxing authorities. Specific to foreign countries in which the Fund invests, all open tax years remain subject to examination by taxing authorities in the respective jurisdictions. The open tax years vary by each jurisdiction in which the Fund invests.

In this reporting period, the Fund adopted Financial Accounting Standards Board ("FASB") Accounting Standards Update 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures ("ASU 2023-09"). The adoption impacted financial statement disclosures only and did not affect the Fund's financial position or results of operations.

A disaggregation of income taxes paid by jurisdiction is presented when such amounts are significant; however, income taxes paid by the Fund for the year ended March 31, 2026 were not considered significant.

**Distribution of Income and Gains.** Distributions from net investment income of the Fund, if any, are declared and distributed to shareholders annually. Net realized gains from investment transactions, in excess of available capital loss carryforwards, would be taxable to the Fund if not distributed, and, therefore, will be distributed to shareholders at least annually. The Fund may also make additional distributions for tax purposes if necessary.

The timing and characterization of certain income and capital gain distributions are determined annually in accordance with federal tax regulations which may differ from accounting principles generally accepted in the United States of America. These differences primarily relate to certain securities sold at a loss. The Fund may utilize a portion of the proceeds from capital shares redeemed as a distribution from net investment income and realized capital gains. As a result, net investment income (loss) and net realized gain (loss) on investment transactions for a reporting period may differ significantly from distributions during such period. Accordingly, the Fund may periodically make reclassifications among certain of its capital accounts without impacting the net asset value of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| DWS RREEF Completion Fund I  | \|  | **15**  |

---

------

At March 31, 2026, the Fund's components of distributable earnings (accumulated losses) on a net tax basis were as follows:

---

| | |
|:---|:---|
| Undistributed ordinary income\* | &nbsp;&nbsp; $7314 |
| Capital loss carryforwards | &nbsp;&nbsp; $(20081)<br>|
| Net unrealized appreciation (depreciation) on investments | &nbsp;&nbsp; $(164703)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>\*</sup> For tax purposes, short-term capital gain distributions are considered ordinary income distributions.

At March 31, 2026, the aggregate cost of investments for federal income tax purposes was $1,985,647. The net unrealized depreciation for all investments based on tax cost was $164,703. This consisted of aggregate gross unrealized appreciation for all investments for which there was an excess of value over tax cost of $12,510 and aggregate gross unrealized depreciation for all investments for which there was an excess of tax cost over value of $177,213.

**Expenses.** Expenses of the Trust arising in connection with a specific fund are allocated to that fund. Other Trust expenses which cannot be directly attributed to a fund are apportioned among the funds in the Trust based upon the relative net assets or other appropriate measures.

**Contingencies.** In the normal course of business, the Fund may enter into contracts with service providers that contain general indemnification clauses. The Fund's maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Fund that have not yet been made. However, based on experience, the Fund expects the risk of loss to be remote.

**Real Estate Investment Trusts.** The Fund at its fiscal year end recharacterizes distributions received from a Real Estate Investment Trust ("REIT") investment based on information provided by the REIT into the following categories: ordinary income, long-term and short-term capital gains, and return of capital. If information is not available timely from a REIT, the recharacterization will be estimated for financial reporting purposes and a recharacterization will be made to the accounting records in the following year when such information becomes available. Distributions received from REITs in excess of income are recorded as either a reduction of cost of investments or realized gains.

**Other.** Investment transactions are accounted for on a trade date plus one basis for daily net asset value calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Interest income is recorded on the accrual basis. Dividend income is recorded on the ex-dividend date net of foreign withholding taxes. Certain dividends from foreign securities may be recorded subsequent to the ex-dividend date as soon as the Fund is informed of such dividends. Realized gains

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **16**  | \|  | DWS RREEF Completion Fund I  |

---

------

and losses from investment transactions are recorded on an identified cost basis. Proceeds from litigation payments, if any, are included in net realized gain (loss) from investments.

**B.** **Purchases and Sales of Securities**

For the period from February 12, 2026 (commencement of operations) through March 31, 2026, purchases and sales of investment securities (excluding short-term investments) aggregated $2,177,584 and $234,760, respectively.

**C.** **Related Parties**

**Management Agreement.** Under the Investment Management Agreement with DWS Investment Management Americas, Inc. ("DIMA" or the "Advisor"), an indirect, wholly owned subsidiary of DWS Group GmbH & Co. KGaA ("DWS Group"), the Advisor directs the investments of the Fund in accordance with its investment objectives, policies and restrictions. The Advisor determines the securities, instruments and other contracts relating to investments to be purchased, sold or entered into by the Fundor delegates such responsibility to the Fund's subadvisor.

RREEF America L.L.C. ("RREEF"), also an indirect, wholly owned subsidiary of DWS Group, is the subadvisor for the Fund. While DIMA is the investment advisor to the Fund, the day-to-day activities of managing the Fund's portfolio have been delegated to RREEF.

The Fund does not pay a management fee to the Advisor. The Advisor does not pay a subadvisory fee to RREEF. RREEF is compensated directly or indirectly by wrap program sponsors or wrap account clients for separately managed account advisory services.

For the period from February 12, 2026 (commencement of operations) through July 31, 2028, the Advisor has contractually agreed to waive its fees and/or reimburse certain operating expenses to the extent necessary to maintain the total annual operating expenses (excluding certain expenses such as extraordinary expenses, taxes, brokerage, interest expense and acquired fund fees and expenses) of the Fund at 0.00%.

For the period from February 12, 2026 (commencement of operations) through March 31, 2026, fees waived and/or expenses reimbursed were $62,672.

**Administration Fee.** Pursuant to an Administrative Services Agreement, DIMA provides most administrative services to the Fund. For all services provided under the Administrative Services Agreement, the Fund pays the Advisor an annual fee ("Administration Fee") of 0.097% of the Fund's average daily net assets, computed and accrued daily and payable monthly. For the period from February 12, 2026 (commencement of operations) through March 31, 2026, the Administration Fee was $239, of which $154 is unpaid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| DWS RREEF Completion Fund I  | \|  | **17**  |

---

------

**Service Provider Fees.** DWS Service Company ("DSC"), an affiliate of the Advisor, is the transfer agent, dividend-paying agent and shareholder service agent for the Fund. Pursuant to a sub-transfer agency agreement between DSC and SS&C GIDS, Inc. ("SS&C"), DSC has delegated certain transfer agent, dividend-paying agent and shareholder service agent functions to SS&C. DSC compensates SS&C out of the shareholder servicing fee it receives from the Fund. For the period from February 12, 2026 (commencement of operations) through March 31, 2026, the amounts charged to the Fund by DSC aggregated $19, all of which is unpaid.

**Other Service Fees.** Under an agreement with the Fund, DIMA is compensated for providing regulatory filing services to the Fund. For the period from February 12, 2026 (commencement of operations) through March 31, 2026, the amount charged to the Fund by DIMA included in the Statement of Operations under "Reports to shareholders" aggregated $300, all of which is unpaid.

**Trustees' Fees and Expenses.** The Fund paid retainer fees to each Trustee not affiliated with the Advisor, plus specified amounts to the Board Chairperson and to each committee Chairperson.

**Affiliated Cash Management Vehicles.** The Fund may invest uninvested cash balances in DWS Central Cash Management Government Fund, an affiliated money market fund which is managed by the Advisor. DWS Central Cash Management Government Fund is managed in accordance with Rule 2a-7 under the 1940 Act, which governs the quality, maturity, diversity and liquidity of instruments in which a money market fund may invest and seeks to maintain a stable net asset value. The Fund indirectly bears its proportionate share of the expenses of its investment in DWS Central Cash Management Government Fund. DWS Central Cash Management Government Fund does not pay the Advisor an investment management fee.

**D.** **Concentration of Ownership**

From time to time, the Fund may have a concentration of several shareholder accounts holding a significant percentage of shares outstanding. Investment activities of these shareholders could have a

material impact on the Fund. At March 31, 2026, there was one affiliated shareholder account that held 100% of the outstanding shares of the Fund.

**E.** **Line of Credit**

The Fund and other affiliated funds (the "Participants") share in a $345 million revolving credit facility provided by a syndication of banks. The Fund may borrow for temporary or emergency purposes, including the meeting of redemption requests that otherwise might require the

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **18**  | \|  | DWS RREEF Completion Fund I  |

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------

untimely disposition of securities. The Participants are charged an annual commitment fee, which is allocated based on net assets, among each of the Participants. Interest is calculated at a daily fluctuating rate per annum equal to the sum of the higher of the Federal Funds Effective Rate and the Overnight Bank Funding Rate, plus 1.25%. The Fund may borrow up to a maximum of 20 percent of its net assets under the agreement. The Fund had no outstanding loans at March 31, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| DWS RREEF Completion Fund I  | \|  | **19**  |

---

------

**Report of Independent Registered Public Accounting Firm**

**To the Board of Trustees of Deutsche DWS Market Trust and Shareholders of DWS RREEF Completion Fund I:**

**Opinion on the Financial Statements**

We have audited the accompanying statement of assets and liabilities of DWS RREEF Completion Fund I (the "Fund") (one of the funds constituting Deutsche DWS Market Trust (the "Trust")), including the investment portfolio, as of March 31, 2026, and the related statements of operations and changes in net assets and the financial highlights for the period from February 12, 2026 (commencement of operations) through March 31, 2026, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund (one of the funds constituting Deutsche DWS Market Trust) at March 31, 2026, the results of its operations, the changes in its net assets and its financial highlights for the period from February 12, 2026 through March 31, 2026, in conformity with U.S. generally accepted accounting principles.

**Basis for Opinion**

These financial statements are the responsibility of the Trust's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Trust in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Trust is not required to have, nor were we engaged to perform, an audit of the Trust's internal control over financial reporting. As part of our audit, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Trust's internal control over financial reporting. Accordingly, we express no such opinion.

Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **20**  | \|  | DWS RREEF Completion Fund I  |

---

------

and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of March 31, 2026, by correspondence with the custodian, brokers, and others; when replies were not received from brokers and others, we performed other auditing procedures. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

![](imgee15cbe43.jpg)

We have served as the auditor of one or more investment companies in the DWS family of funds since at least 1979, but we are unable to determine the specific year.

Boston, Massachusetts

May 22, 2026

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| DWS RREEF Completion Fund I  | \|  | **21**  |

---

------

**Tax Information (Unaudited)**

Please consult a tax advisor if you have questions about federal or state income tax laws, or on how to prepare your tax returns. If you have specific questions about your account, please call (800) 728-3337.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **22**  | \|  | DWS RREEF Completion Fund I  |

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------

**Advisory Agreement Board Considerations and Fee Evaluation**

The Board of Trustees (hereinafter referred to as the "Board" or "Trustees") approved DWS RREEF Completion Fund I's (the "Fund") investment management agreement (the "Agreement") with DWS Investment Management Americas, Inc. ("DIMA") and sub-advisory agreement (the "Sub-Advisory Agreement" and together with the Agreement, the "Agreements") between DIMA and RREEF America L.L.C. ("RREEF"), an affiliate of DIMA, in December 2024.

In terms of the process that the Board followed prior to approving the Agreements, shareholders should know that:

—

During the entire process, all of the Fund's Trustees were independent of DIMA and its affiliates (the "Independent Trustees").

—

Over the course of meetings in September and December 2024, the Board reviewed extensive materials received from DIMA regarding the Fund, including materials containing information on the Fund's proposed "completion" fund structure, investment strategy, portfolio composition, and fees and expenses.

—

The Independent Trustees met privately with counsel to discuss the Agreements and other matters relating to the Fund.

In determining to approve the Agreements, the Board considered the factors discussed below, among others. The Board noted that DIMA and RREEF are part of DWS Group GmbH & Co. KGaA ("DWS Group"), a global asset management business that is majority-owned by Deutsche Bank AG, with approximately 20% of its shares publicly traded. The Board believes that there are advantages to being part of a global asset management business that offers a wide range of investing expertise and resources, including research capabilities in many countries throughout the world. The Board considered that the Fund is intended to function as a "completion" fund in a real assets securities ("RAS") strategy that DIMA will offer to separately managed account ("SMA") clients. The Board noted DIMA's statement indicating that the Fund will be offered solely to SMA clients in order to "complete" their RAS portfolio strategies by holding components of the RAS strategy that would be difficult to hold in individual SMAs, such as non-U.S.-listed securities and less liquid American Depositary Receipts and dual-listed securities.

**Nature, Quality and Extent of Services.** The Board considered the terms of the Agreements, including the scope of advisory services to be provided under the Agreements. The Board noted that, under the Agreements, DIMA and RREEF will provide portfolio management services to the Fund and that, pursuant to a separate administrative services agreement, DIMA will provide administrative services to the

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| DWS RREEF Completion Fund I  | \|  | **23**  |

---

------

Fund. The Board considered the experience and skills of senior management and investment personnel, the resources made available to such personnel, the ability of DIMA to attract and retain high-quality personnel, and the organizational depth and stability of DIMA. The Board also considered the risks to DIMA in sponsoring or managing the Fund, including financial, operational and reputational risks, the potential economic impact to DIMA from such risks and DIMA's approach to addressing such risks. The Board considered information provided on the investment personnel of RREEF and RREEF's experience managing RAS strategies. The Board noted that DIMA would be responsible for the oversight and supervision of RREEF's management of the Fund. The Board also noted the distinctive nature of the Fund as a "completion" fund offered solely to SMA clients in order to "complete" their RAS portfolio strategies by holding components of the RAS strategy that would be difficult to hold in individual SMAs. Because the Fund had not yet commenced operations, no information relating to the Fund's past performance could be considered by the Board.

On the basis of this evaluation, the Board concluded that the nature, quality and extent of services to be provided by DIMA and RREEF under the Agreements are expected to be satisfactory.

**Fees and Expenses.** The Board considered that pursuant to the Agreement, the Fund will not pay an investment management fee to DIMA and that pursuant to the Sub-Advisory Agreement, neither the Fund nor DIMA will pay a sub-advisory fee to RREEF. The Board noted DIMA's explanation that "completion" funds are typically offered without charging a management fee to the fund, as SMA clients participating in a "wrap fee" program pay a fee to the program sponsor and RREEF will receive a management fee from the program sponsor for advising the SMAs. The Board considered information regarding RREEF's expected SMA management fee. In evaluating the proposed management fee and estimated total net expense ratio for the Fund, the Board considered DIMA's proposed expense limitation agreement with respect to the Fund, pursuant to which DIMA, through at least December 17, 2027, would reimburse all operating expenses of the Fund, excluding certain expenses such as extraordinary expenses, taxes, brokerage, interest expense and acquired fund fees and expenses.

On the basis of the information provided, the Board concluded that the proposed management fees were reasonable and appropriate in light of the nature, quality and extent of services to be provided by DIMA and RREEF.

**Profitability.** Because the Fund had not yet commenced operations, no information regarding DIMA's costs and profits from providing investment management services to the Fund could be considered by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **24**  | \|  | DWS RREEF Completion Fund I  |

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------

**Economies of Scale.** Given that the Fund will not pay a management fee, the Board concluded that the management fee schedule represents an appropriate sharing between the Fund and DIMA of economies of scale.

**Other Benefits to DIMA and Its Affiliates.** The Board also considered the character and amount of other incidental or "fall-out" benefits to be received by DIMA and its affiliates, including management fees to be received by RREEF from program sponsors for advising the SMAs. The Board also considered benefits to DIMA related to brokerage and soft-dollar allocations, including that DIMA may allocate brokerage to pay for research generated by parties other than the executing broker dealers, which pertain primarily to funds investing in equity securities. In addition, the Board considered the incidental public relations benefits to DIMA related to DWS Funds advertising and cross-selling opportunities among DIMA products and services. The Board considered these benefits in reaching its conclusion that the Fund's proposed management fees were reasonable.

**Compliance.** The Board considered the significant attention and resources dedicated by DIMA to its compliance processes in recent years. The Board noted in particular (i) the experience, seniority and time commitment of the individuals serving as DIMA's and the Fund's chief compliance officers; (ii) the substantial commitment of resources by DIMA and its affiliates to compliance matters, including the retention of compliance personnel; and (iii) ongoing efforts to enhance the compliance program.

Based on all of the information considered and the conclusions reached, the Board determined to approve the Agreements and concluded that the Agreements are in the best interests of the Fund. In making this determination, the Board did not give particular weight to any single factor identified above and individual Independent Trustees may have weighed these factors differently in reaching their individual decisions to approve the Agreements. The Board considered these factors over the course of multiple meetings, certain of which were in executive session with only the Independent Trustees and counsel present.

DRCF-BFE2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| DWS RREEF Completion Fund I  | \|  | **25**  |

---

------

![](imgf0bb04cc2.jpg)

DRCF-NCSRA

------

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;(b) The Financial Highlights are included with the Financial Statements under Item 7(a). |
| &nbsp;&nbsp;**Item 8.** | &nbsp;&nbsp;**Changes in and Disagreements with Accountants for Open-End Management Investment Companies.** |
|  | &nbsp;&nbsp;Not applicable |
| &nbsp;&nbsp;**Item 9.** | &nbsp;&nbsp;**Proxy Disclosures for Open-End Management Investment Companies.** |
|  | &nbsp;&nbsp;Not applicable |
| &nbsp;&nbsp;**Item 10.** | &nbsp;&nbsp;**Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.** |
|  | &nbsp;&nbsp;See Item 7(a) |
| &nbsp;&nbsp;**Item 11.** | &nbsp;&nbsp;**Statement Regarding Basis for Approval of Investment Advisory Contract.** |
|  | &nbsp;&nbsp;See Item 7(a) |
| &nbsp;&nbsp;**Item 12.** | &nbsp;&nbsp;**Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.** |
|  | &nbsp;&nbsp;Not applicable |
| &nbsp;&nbsp;**Item 13.** | &nbsp;&nbsp;**Portfolio Managers of Closed-End Management Investment Companies.** |
|  | &nbsp;&nbsp;Not applicable |
| &nbsp;&nbsp;**Item 14.** | &nbsp;&nbsp;**Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.** |
|  | &nbsp;&nbsp;Not applicable |
| &nbsp;&nbsp;**Item 15.** | &nbsp;&nbsp;**Submission of Matters to a Vote of Security Holders.** |
|  | &nbsp;&nbsp;There were no material changes to the procedures by which shareholders may recommend nominees to the Fund's Board. The primary function of the Nominating and Governance Committee is to identify and recommend individuals for membership on the Board and oversee the administration of the Board Governance Guidelines. Shareholders may recommend candidates for Board positions by forwarding their correspondence by U.S. mail or courier service to Keith R. Fox, DWS Funds Board Chair, c/o Thomas R. Hiller, Ropes & Gray LLP, Prudential Tower, 800 Boylston Street, Boston, MA 02199-3600. |
| &nbsp;&nbsp;**Item 16.** | &nbsp;&nbsp;**Controls and Procedures.** |
| &nbsp;&nbsp; &nbsp;&nbsp;(a) | &nbsp;&nbsp;The Chief Executive and Financial Officers concluded that the Registrant's Disclosure Controls and Procedures are effective based on the evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report. |
| &nbsp;&nbsp; &nbsp;&nbsp;(b) | &nbsp;&nbsp;There have been no changes in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal controls over financial reporting. |
| &nbsp;&nbsp;**Item 17.** | &nbsp;&nbsp;**Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.** |
|  | &nbsp;&nbsp;Not applicable |
| &nbsp;&nbsp;**Item 18.** | &nbsp;&nbsp;**Recovery of Erroneously Awarded Compensation.** |
|  | &nbsp;&nbsp;Not applicable |
| &nbsp;&nbsp;**Item 19.** | &nbsp;&nbsp;**Exhibits** |
| &nbsp;&nbsp; &nbsp;&nbsp;(a)(1) | &nbsp;&nbsp;[Code of Ethics pursuant to Item 2 of Form N-CSR is filed and attached hereto as EX-99.CODE ETH.](codeofethics.htm) |
| &nbsp;&nbsp; &nbsp;&nbsp;(a)(2) | &nbsp;&nbsp;[Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.](ex99cert.htm) |
| &nbsp;&nbsp; &nbsp;&nbsp;(b) | &nbsp;&nbsp;[Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) is furnished and attached hereto as Exhibit 99.906CERT.](ex99906cert.htm) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | |
|:---|:---|
| &nbsp;&nbsp;Registrant: | &nbsp;&nbsp;DWS RREEF Completion Fund I, a series of Deutsche DWS Market Trust |
| &nbsp;&nbsp;By: | &nbsp;&nbsp; <u>/s/Hepsen Uzcan</u><br> Hepsen Uzcan<br> Principal Executive Officer |
| &nbsp;&nbsp;Date: | &nbsp;&nbsp;5/29/2026 |

---

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
| &nbsp;&nbsp;By: | &nbsp;&nbsp; <u>/s/Hepsen Uzcan</u><br> Hepsen Uzcan<br> Principal Executive Officer |
| &nbsp;&nbsp;Date: | &nbsp;&nbsp;5/29/2026 |
| &nbsp;&nbsp;By: | &nbsp;&nbsp; <u>/s/Diane Kenneally</u><br> Diane Kenneally<br> Principal Financial Officer |
| &nbsp;&nbsp;Date: | &nbsp;&nbsp;5/29/2026 |

---

## Ex-99.Code

**DWS**

**Principal Executive Officer and Principal Financial Officer Code of Ethics**

**For the Registered Investment Companies Listed on Appendix A**

**Effective Date**

**January 31, 2005**

**Date Last Reviewed**

**April 1, 2026**

**Table of Contents**

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;[I. Overview](#a_Toc230266946) |
| &nbsp;&nbsp;&nbsp;&nbsp;[II. Purposes of the Officer Code](#a_Toc230266947) |
| &nbsp;&nbsp;&nbsp;&nbsp;[III. Responsibilities of Covered Officers](#a_Toc230266948) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[A. Honest and Ethical Conduct](#a_Toc230266949) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[B. Conflicts of Interest](#a_Toc230266950) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[C. Use of Personal Fund Shareholder Information](#a_Toc230266951) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[D. Public Communications](#a_Toc230266952) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[E. Compliance with Applicable Laws, Rules and Regulations](#a_Toc230266953) |
| &nbsp;&nbsp;&nbsp;&nbsp;[IV. Violation Reporting](#a_Toc230266954) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[A. Overview](#a_Toc230266955) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[B. How to Report](#a_Toc230266956) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[C. Process for Violation Reporting to the Fund Board](#a_Toc230266957) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[D. Sanctions for Officer Code Violations](#a_Toc230266958) |
| &nbsp;&nbsp;&nbsp;&nbsp;[V. Waivers from the Officer Code](#a_Toc230266959) |
| &nbsp;&nbsp;&nbsp;&nbsp;[VI. Amendments to the Officer Code](#a_Toc230266960) |
| &nbsp;&nbsp;&nbsp;&nbsp;[VII. Regulatory Filings and Reporting](#a_Toc230266961) |
| &nbsp;&nbsp;&nbsp;&nbsp;[VIII. Acknowledgement and Certification of Adherence to the Officer Code](#a_Toc230266962) |
| &nbsp;&nbsp;&nbsp;&nbsp;[IX. Scope of Responsibilities](#a_Toc230266963) |
| &nbsp;&nbsp;&nbsp;&nbsp;[X. Recordkeeping](#a_Toc230266964) |
| &nbsp;&nbsp;&nbsp;&nbsp;[XI. Confidentiality](#a_Toc230266965) |
| &nbsp;&nbsp;&nbsp;&nbsp;[Appendices](#a_Toc230266966) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Appendix A: List of Covered Officers under the Code and Related Funds](#a_Toc230266967) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Appendix B: Acknowledgement and Certification](#a_Toc230266968) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I. Overview

This Principal Executive Officer and Principal Financial Officer Code of Ethics (the "Officer Code") sets forth the policies, practices, and values expected to be exhibited in the conduct of the Principal Executive Officer(s)[1](#note_ftn1) and Principal Financial Officer(s)[2](#note_ftn2) (each a "Covered Officer" and together, the "Covered Officers") of the registered investment companies[3](#note_ftn3) advised by DWS[4](#note_ftn4) (each a "Fund" and together, the "Funds") they serve. A list of Covered Officers and Funds is included in Appendix A.

The Boards of the Funds listed in Appendix A have elected to implement the Officer Code, pursuant to Section 406 of the Sarbanes-Oxley Act of 2002 and the Securities and Exchange Commission's (the "SEC") rules thereunder, to promote and demonstrate honest and ethical conduct in their Covered Officers.

All Covered Officers are also employees of DWS. Thus, in addition to adhering to the Officer Code, the Covered Officers must also comply with DWS policies and procedures, such as the Code of Ethics – DWS Group (U.S. Registered Entities) governing personal trading activities, as adopted pursuant to Rule 17j-1 under the Investment Company Act of 1940, as amended (the "1940 Act").[5](#note_ftn5) In addition, such individuals must also comply with other applicable Fund policies and procedures.

The Fund's Chief Compliance Officer or their designee (the "Compliance Officer"), who shall not be a Covered Officer and who shall serve as such subject to the approval of each Fund's Board (or committee thereof), is primarily responsible for implementing and enforcing this Officer Code. The Compliance Officer has the authority to interpret this Officer Code and its applicability to particular circumstances.

The Compliance Officer and his or her contact information can be found in Appendix A. Any questions about the Officer Code should be directed to the Compliance Officer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;II. Purposes of the Officer Code

The purposes of the Officer Code are to deter wrongdoing and to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· promote honest and ethical conduct among Covered Officers, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· promote full, fair, accurate, timely and understandable disclosures in reports and documents that the Funds file with or submit to the SEC (and in other public communications from the Funds) and that are within the Covered Officer's responsibilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· promote compliance with applicable laws, rules and regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· encourage the prompt internal reporting of violations of the Officer Code to the Compliance Officer; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· establish accountability for adherence to the Officer Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;III. Responsibilities of Covered Officers

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Honest and Ethical Conduct

It is the duty of every Covered Officer to encourage and demonstrate honest and ethical conduct, as well as adhere to and require adherence to the Officer Code and any other applicable policies and procedures designed to promote this behavior. Covered Officers must at all times conduct themselves with integrity and distinction, putting first the interests of the Fund(s) they serve. Covered Officers must be honest and candid while maintaining confidentiality of information where required by law, DWS policy or Fund policy.

Covered Officers also must, at all times, act in good faith, responsibly and with due care, competence and diligence, without misrepresenting or being misleading about material facts or allowing their independent judgment to be subordinated. Covered Officers also should maintain skills appropriate and necessary for the performance of their duties for the Fund(s). Covered Officers also must responsibly use and control all Fund assets and resources entrusted to them.

Covered Officers may not retaliate against others for, or otherwise discourage the reporting of, actual or apparent violations of the Officer Code or applicable laws or regulations. Covered Officers should create an environment that encourages the exchange of information, including concerns of the type that this Officer Code is designed to address.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Conflicts of Interest

A "conflict of interest" occurs when a Covered Officer's personal interests interfere with the interests of the Fund for which he or she serves as an officer. Covered Officers may not improperly use their position with a Fund for personal or private gain to themselves, their family, or any other person. Similarly, Covered Officers may not use their personal influence or personal relationships to influence decisions or other Fund business or operational matters where they would benefit personally at the Fund's expense or to the Fund's detriment. Covered Officers may not cause the Fund to take action, or refrain from taking action, for their personal benefit at the Fund's expense or to the Fund's detriment. Some examples of conflicts of interest follow (this is not an all-inclusive list): being in the position of supervising, reviewing or having any influence on the job evaluation, pay or benefit of any immediate family member who is an employee of a Fund service provider or is otherwise associated with the Fund; or having an ownership interest in, or having any consulting or employment relationship with, any Fund service provider other than DWS or its affiliates.

Certain conflicts of interest covered by this Officer Code arise out of the relationships between Covered Officers and the Fund that already are subject to conflict of interest provisions in the 1940 Act and the Investment Advisers Act. For example, Covered Officers may not individually engage in certain transactions (such as the purchase or sale of securities or other property) with the Fund because of their status as "affiliated persons" of the Fund. Covered Officers must comply with applicable laws and regulations. Therefore, any violations of existing statutory and regulatory prohibitions on individual behavior could be considered a violation of this Officer Code.

As to conflicts arising from, or as a result of the advisory relationship (or any other relationships) between the Fund and DWS, of which the Covered Officers are also officers or employees, it is recognized by the Board that, subject to DWS's fiduciary duties to the Fund, the Covered Officers will in the normal course of their duties (whether formally for the Fund or for DWS, or for both) be involved in establishing policies and implementing decisions which will have different effects on DWS and the Fund. The Board recognizes that the participation of the Covered Officers in such activities is inherent in the contract relationship between the Fund and DWS and is consistent with the expectation of the Board of the performance by the Covered Officers of their duties as officers of the Fund.

Covered Officers should avoid actual conflicts of interest, and appearances of conflicts of interest, between the Covered Officer's duties to the Fund and his or her personal interests beyond those contemplated or anticipated by applicable regulatory schemes. If a Covered Officer suspects or knows of a conflict or an appearance of one, the Covered Officer must immediately report the matter to the Compliance Officer. If a Covered Officer, in lieu of reporting such a matter to the Compliance Officer, may report the matter directly to the Fund's Board (or committee thereof), as appropriate (e.g., if the conflict involves the Compliance Officer or the Covered Officer reasonably believes it would be futile to report the matter to the Compliance Officer).

When actual, apparent or suspected conflicts of interest arise in connection with a Covered Officer, DWS personnel aware of the matter should promptly contact the Compliance Officer. There will be no reprisal or retaliation against the person reporting the matter.

Upon receipt of a report of a possible conflict, the Compliance Officer will take steps to determine whether a conflict exists. In so doing, the Compliance Officer may take any actions he or she determines to be appropriate in his or her sole discretion and may use all reasonable resources, including retaining or engaging legal counsel, accounting firms or other consultants, subject to applicable law.[6](#note_ftn6) The costs associated with such actions may be borne by the Fund, if appropriate, after consultation with the Fund's Board (or committee thereof). Otherwise, such costs will be borne by DWS or other appropriate Fund service provider.

After full review of a report of a possible conflict of interest, the Compliance Officer may determine that no conflict or reasonable appearance of a conflict exists. If, however, the Compliance Officer determines that an actual conflict exists, the Compliance Officer will resolve the conflict solely in the interests of the Fund, and will report the conflict and its resolution to the Fund's Board (or committee thereof). If the Compliance Officer determines that the appearance of a conflict exists, the Compliance Officer will take appropriate steps to remedy such appearance. In lieu of determining whether a conflict exists and/or resolving a conflict, the Compliance Officer instead may refer the matter to the Fund's Board (or committee thereof), as appropriate. However, the Compliance Officer must refer the matter to the Fund's Board (or committee thereof) if the Compliance Officer is directly involved in the conflict or under similar appropriate circumstances.

After responding to a report of a possible conflict of interest, the Compliance Officer will discuss the matter with the person reporting it (and with the Covered Officer at issue, if different) for purposes of educating those involved on conflicts of interests (including how to detect and avoid them, if appropriate).

Appropriate resolution of conflicts may restrict the personal activities of the Covered Officer and/or his family, friends or other persons.

Solely because a conflict is disclosed to the Compliance Officer (and/or the Board or Committee thereof) and/or resolved by the Compliance Officer does not mean that the conflict or its resolution constitutes a waiver from the Officer Code's requirements.

Any questions about conflicts of interests, including whether a particular situation might be a conflict or an appearance of one, should be directed to the Compliance Officer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. Use of Personal Fund Shareholder Information

A Covered Officer may not use or disclose personal information about Fund shareholders, except in the performance of his or her duties for the Fund. Each Covered Officer also must abide by the Funds' and DWS's privacy policies under SEC Regulation S-P.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. Public Communications

In connection with his or her responsibilities for or involvement with a Fund's public communications and disclosure documents (e.g., shareholder reports, registration statements, press releases), each Covered Officer must provide information to Fund service providers (within the DWS organization or otherwise) and to the Fund's Board (and any committees thereof), independent auditors, government regulators and self-regulatory organizations that is fair, accurate, complete, objective, relevant, timely and understandable.

Further, within the scope of their duties, Covered Officers having direct or supervisory authority over Fund disclosure documents or other public Fund communications will, to the extent appropriate within their area of responsibility, endeavor to ensure full, fair, timely, accurate and understandable disclosure in Fund disclosure documents. Such Covered Officers will oversee, or appoint others to oversee, processes for the timely and accurate creation and review of all public reports and regulatory filings. Within the scope of his or her responsibilities as a Covered Officer, each Covered Officer also will familiarize himself or herself with the disclosure requirements applicable to the Fund, as well as the business and financial operations of the Fund. Each Covered Officer also will adhere to, and will promote adherence to, applicable disclosure controls, processes and procedures, including DWS's Disclosure Controls and Procedures, which govern the process by which Fund disclosure documents are created and reviewed.

To the extent that Covered Officers participate in the creation of a Fund's books or records, they must do so in a way that promotes the accuracy, fairness and timeliness of those records.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. Compliance with Applicable Laws, Rules and Regulations

In connection with his or her duties and within the scope of his or her responsibilities as a Covered Officer, each Covered Officer must comply with governmental laws, rules and regulations, accounting standards, and Fund policies/procedures that apply to his or her role, responsibilities and duties with respect to the Funds ("Applicable Laws"). These requirements do not impose on Covered Officers any additional substantive duties. Additionally, Covered Officers should promote compliance with Applicable Laws.

If a Covered Officer knows of any material violations of Applicable Laws or suspects that such a violation may have occurred, the Covered Officer is expected to promptly report the matter to the Compliance Officer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IV. Violation Reporting

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Overview

Each Covered Officer must promptly report to the Compliance Officer, and promote the reporting of, any known or suspected violations of the Officer Code. Failure to report a violation may be a violation of the Officer Code.

Examples of violations of the Officer Code include, but are not limited to, the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Unethical or dishonest behavior

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Obvious lack of adherence to policies surrounding review and approval of public communications and regulatory filings

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Failure to report violations of the Officer Code

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Known or obvious deviations from Applicable Laws

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Failure to acknowledge and certify adherence to the Officer Code

The Compliance Officer has the authority to take any and all action he or she considers appropriate in his or her sole discretion to investigate known or suspected Officer Code violations, including consulting with the Fund's Board, the independent Board members, a Board committee, the Fund's legal counsel and/or counsel to the independent Board members. The Compliance Officer also has the authority to use all reasonable resources to investigate violations, including retaining or engaging legal counsel, accounting firms or other consultants, subject to applicable law.[7](#note_ftn7) The costs associated with such actions may be borne by the Fund, if appropriate, after consultation with the Fund's Board (or committee thereof). Otherwise, such costs will be borne by DWS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. How to Report

Any known or suspected violations of the Officer Code must be promptly reported to the Compliance Officer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. Process for Violation Reporting to the Fund Board

The Compliance Officer will promptly report any violations of the Officer Code to the Fund's Board (or committee thereof).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. Sanctions for Officer Code Violations

Violations of the Officer Code will be taken seriously. In response to reported or otherwise known violations, DWS and the relevant Fund's Board may impose sanctions within the scope of their respective authority over the Covered Officer at issue. Sanctions imposed by DWS could include termination of employment. Sanctions imposed by a Fund's Board could include termination of association with the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;V. Waivers from the Officer Code

A Covered Officer may request a waiver from the Officer Code by transmitting a written request for a waiver to the Compliance Officer.[8](#note_ftn8) The request must include the rationale for the request and must explain how the waiver would be in furtherance of the standards of conduct described in and underlying purposes of the Officer Code. The Compliance Officer will present this information to the Fund's Board (or committee thereof). The Board (or committee) will determine whether to grant the requested waiver. If the Board (or committee) grants the requested waiver, the Compliance Officer thereafter will monitor the activities subject to the waiver, as appropriate, and will promptly report to the Fund's Board (or committee thereof) regarding such activities, as appropriate.

The Compliance Officer will coordinate and facilitate with the Principal Financial Officer(s) any required public disclosures of any waivers granted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VI. Amendments to the Officer Code

The Compliance Officer will review the Officer Code from time to time for its continued appropriateness. Any material amendments must be approved by the Fund's Board (or committee thereof). In addition, the Board (or committee thereof) will review the Officer Code at least annually for its continued appropriateness and may amend the Officer Code as necessary or appropriate.

The Compliance Officer will coordinate and facilitate with the Principal Financial Officer(s) any required public disclosures of any amendments, to the extent required by the SEC's rules, to the Officer Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VII. Regulatory Filings and Reporting

The Principal Financial Officer(s) shall file a copy of the Officer Code with the SEC as an exhibit to each Fund's certified shareholder report on Form N-CSR and facilitate the posting of the Officer Code on the Funds' website, or disclose in Form N-CSR the fact that the Officer Code is available on the Funds' website and provide a hyperlink that will direct the shareholder to the Officer Code. Descriptions of any waivers and material amendments will be disclosed either in each Fund's Form N-CSR or on the Funds' website.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VIII. Acknowledgement and Certification of Adherence to the Officer Code

Each Covered Officer must sign a statement upon appointment as a Covered Officer and annually thereafter acknowledging that he or she has received and read the Officer Code, as amended or updated, and confirming that he or she has complied with it (see Appendix B: Acknowledgement and Certification of Obligations Under the Officer Code).

Understanding and complying with the Officer Code and truthfully completing the Acknowledgement and Certification Form is each Covered Officer's obligation.

The Compliance Officer will maintain such Acknowledgements in the Fund's books and records.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IX. Scope of Responsibilities

A Covered Officer's responsibilities under the Officer Code are limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Fund matters over which the Officer has direct responsibility or control, matters in which the Officer routinely participates, and matters with which the Officer is otherwise involved (*i.e.*, matters within the scope of the Covered Officer's responsibilities as a Fund officer); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Fund matters of which the Officer has actual knowledge.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;X. Recordkeeping

The Compliance Officer will create and maintain appropriate records regarding the implementation and operation of the Officer Code, including records relating to conflicts of interest determinations and investigations of possible Officer Code violations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;XI. Confidentiality

All reports and records prepared or maintained pursuant to this Officer Code shall be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or this Officer Code, such matters shall not be disclosed to anyone other than the Compliance Officer, the Fund's Board (or committee thereof), legal counsel, independent auditors, and any consultants engaged by the Compliance Officer.

**Appendices**

**Appendix A: List of Covered Officers under the Code and Related Funds**

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Funds** | &nbsp;&nbsp;**Principal Executive Officer (President)** | &nbsp;&nbsp;**Principal Financial Officer (Treasurer)** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;DWS Funds[9](#note_ftn9) | &nbsp;&nbsp;Hepsen Uzcan | &nbsp;&nbsp;Diane Kenneally |
| &nbsp;&nbsp;Germany Funds[10](#note_ftn10) | &nbsp;&nbsp;Hepsen Uzcan | &nbsp;&nbsp;Diane Kenneally |

---

.

 

**Compliance Officer:**

Rob Benson

Chief Compliance Officer of the DWS Funds/Germany Funds

Phone: (904) 645-4653

Email: rob.benson@dws.com

Eddie Chenea

Senior Compliance Officer – Mutual Funds Compliance

Phone: (617) 295-1714

Email: eddie.chenea@dws.com

**As of: April 1, 2026**

**Appendix B: Acknowledgement and Certification**

Initial Acknowledgement and Certification

of Obligations Under the Officer Code

Print Name Department Location Telephone

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I acknowledge and certify that I am a Covered Officer under the DWS Principal Executive and Financial Officer Code of Ethics ("Officer Code") effective on [DATE], and therefore subject to all of its requirements and provisions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. I have received and read the Officer Code and I understand the requirements and provisions set forth in the Officer Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. I have disclosed any conflicts of interest of which I am aware to the DWS Compliance Officer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. I will act in the best interest of the Funds for which I serve as an officer and have maintained the confidentiality of personal information about Fund shareholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. I will report any known or suspected violations of the Officer Code in a timely manner to the Compliance Officer identified in the Officer Code.

______________________________ ____________________

Signature Date

Annual Acknowledgement and Certification

of Obligations Under the Officer Code

Print Name Department Location Telephone

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I acknowledge and certify that I am a Covered Officer under the DWS Principal Executive and Financial Officer Code of Ethics ("Officer Code"), including during the period from [Date] to [Date] (the "Period"), and therefore subject to all of its requirements and provisions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. I have received and read the Officer Code, and I understand the requirements and provisions set forth in the Officer Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. I have adhered to the Officer Code during the Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. I have not knowingly been a party to any conflict of interest, nor have I had actual knowledge about actual or apparent conflicts of interest that I did not report to the Compliance Officer in accordance with the Officer Code's requirements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. I have always acted in the best interest of the Funds for which I serve as an officer and have maintained the confidentiality of personal information about Fund shareholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. With respect to the duties I perform for the Fund as a Fund officer, I believe that effective processes are in place to create and file public reports and documents in accordance with applicable regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. With respect to the duties I perform for the Fund as a Fund officer, I have complied to the best of my knowledge with all Applicable Laws (as that term is defined in the Officer Code) and have appropriately monitored those persons under my supervision for compliance with Applicable Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. I have reported any known or suspected violations of the Officer Code in a timely manner to the Compliance Officer identified in the Officer Code.

______________________________ ____________________

Signature Date

------

[1](#note_ftnref1) The individual or individuals holding the office of President, or similar function, of the Funds listed on Appendix A.

[2](#note_ftnref2) The individual or individuals holding the office of Treasurer, or similar function, of the Funds listed on Appendix A.

[3](#note_ftnref3) Registered investment companies shall not include a face-amount certificate company or a unit investment trust.

[4](#note_ftnref4) DWS includes DWS Investment Management Americas, Inc., DWS International GmbH, DWS Distributors, Inc. or their affiliates.

[5](#note_ftnref5) The obligations imposed by the Officer Code are separate from, and in addition to, any obligations imposed under codes of ethics adopted pursuant to Rule 17j-1 under the 1940 Act, and any other code of conduct applicable to Covered Officers in whatever capacity they serve. The Officer Code does not incorporate any of those other codes and, accordingly, violations of those codes will not necessarily be considered violations of the Officer Code and waivers granted under those codes would not necessarily require a waiver to be granted under this Officer Code. Sanctions imposed under those codes may be considered in determining appropriate sanctions for any violation of this Officer Code.

[6](#note_ftnref6) For example, retaining a Fund's independent accounting firm may require pre-approval by the Fund's audit committee.

[7](#note_ftnref7) For example, retaining a Fund's independent accounting firm may require pre-approval by the Fund's audit committee.

[8](#note_ftnref8) Of course, it is not a waiver of the Officer Code if the Fund's Board (or committee thereof) determines that a matter is not a deviation from the Officer Code's requirements or is otherwise not covered by the Officer Code.

[9](#note_ftnref9) The DWS Funds include each of the following and their series: Cash Account Trust, Deutsche DWS Asset Allocation Trust, Deutsche DWS Equity 500 Index Portfolio, Deutsche DWS Income Trust, Deutsche DWS Institutional Funds, Deutsche DWS International Fund, Inc., Deutsche DWS Investment Trust, Deutsche DWS Investments VIT Funds, Deutsche DWS Market Trust, Deutsche DWS Money Funds. Deutsche DWS Money Market Trust, Deutsche DWS Municipal Trust, Deutsche DWS Portfolio Trust, Deutsche DWS Securities Trust, Deutsche DWS State Tax-Free Income Series, Deutsche DWS Tax Free Trust, Deutsche DWS Variable Series I, Deutsche DWS Variable Series II, DWS Municipal Income Trust, Government Cash Management Portfolio, and Investors Cash Trust.

[10](#note_ftnref10) The Germany Funds include: The Central and Eastern Europe Fund, Inc., The European Equity Fund, Inc. and The New Germany Fund, Inc.

## Ex-99.Cert

**Principal Executive Officer**

**Form N-CSR Certification under Sarbanes Oxley Act**

I, Hepsen Uzcan, certify that:

1. I have reviewed this report, filed on behalf of DWS RREEF Completion Fund I, a series of Deutsche DWS Market Trust, on Form N-CSR;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days of the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| &nbsp;&nbsp;5/29/2026 | &nbsp;&nbsp;<u>/s/Hepsen Uzcan</u> |
|  | &nbsp;&nbsp;Hepsen Uzcan |
|  | &nbsp;&nbsp;Principal Executive Officer |

---

**Principal Financial Officer**

**Form N-CSR Certification under Sarbanes Oxley Act**

I, Diane Kenneally, certify that:

1. I have reviewed this report, filed on behalf of DWS RREEF Completion Fund I, a series of Deutsche DWS Market Trust, on Form N-CSR;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days of the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| &nbsp;&nbsp;5/29/2026 | &nbsp;&nbsp;<u>/s/ Diane Kenneally</u> |
|  | &nbsp;&nbsp;Diane Kenneally |
|  | &nbsp;&nbsp;Principal Financial Officer |

---

## Exhibit 99.906

**Principal Executive Officer**

**Section 906 Certification under Sarbanes Oxley Act**

I, Hepsen Uzcan, certify that:

1. I have reviewed this report, filed on behalf of DWS RREEF Completion Fund I, a series of Deutsche DWS Market Trust, on Form N-CSR;

2. Based on my knowledge and pursuant to 18 U.S.C. § 1350, the periodic report on Form N-CSR (the "Report") fully complies with the requirements of § 13 (a) or § 15 (d), as applicable, of the Securities Exchange Act of 1934 and that the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

---

| | |
|:---|:---|
| &nbsp;&nbsp;5/29/2026 | &nbsp;&nbsp;<u>/s/Hepsen Uzcan</u> |
|  | &nbsp;&nbsp;Hepsen Uzcan |
|  | &nbsp;&nbsp;Principal Executive Officer |

---

**Principal Financial Officer**

**Section 906 Certification under Sarbanes Oxley Act**

I, Diane Kenneally, certify that:

1. I have reviewed this report, filed on behalf of DWS RREEF Completion Fund I, a series of Deutsche DWS Market Trust, on Form N-CSR;

2. Based on my knowledge and pursuant to 18 U.S.C. § 1350, the periodic report on Form N-CSR (the "Report") fully complies with the requirements of § 13 (a) or § 15 (d), as applicable, of the Securities Exchange Act of 1934 and that the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

---

| | |
|:---|:---|
| &nbsp;&nbsp;5/29/2026 | &nbsp;&nbsp;<u>/s/Diane Kenneally</u> |
|  | &nbsp;&nbsp;Diane Kenneally |
|  | &nbsp;&nbsp;Principal Financial Officer |

---