DBX ETF Trust

SCHEDULE OF INVESTMENTS

Xtrackers S&P ESG Dividend Aristocrats ETF

November 30, 2023 (Unaudited)

	Number of Shares		Value
COMMON STOCKS - 99.2%
Communication Services - 0.4%
John Wiley & Sons, Inc., Class A
(Cost $29,951)		733	$	22,144
Consumer Discretionary - 6.6%
Genuine Parts Co.		435		57,759
Leggett & Platt, Inc.		2,309		52,807
Lowe’s Cos., Inc.		292		58,058
McDonald’s Corp.		234		65,951
NIKE, Inc., Class B		237		26,134
Polaris, Inc.		691		56,987
(Cost $375,175)				317,696
Consumer Staples - 20.3%
Archer-Daniels-Midland Co.		521		38,413
Brown-Forman Corp., Class B		530		31,132
Church & Dwight Co., Inc.		449		43,387
Coca-Cola Co.		1,231		71,940
Colgate-Palmolive Co.		846		66,639
Flowers Foods, Inc.		3,451		71,815
Hormel Foods Corp.		1,819		55,643
J M Smucker Co.		523		57,389
Kimberly-Clark Corp.		683		84,508
McCormick & Co., Inc.		829		53,744
PepsiCo, Inc.		425		71,523
Procter & Gamble Co.		456		70,005
Sysco Corp.		937		67,623
Target Corp.		502		67,173
Walgreens Boots Alliance, Inc.		3,883		77,427
Walmart, Inc.		308		47,953
(Cost $1,142,828)				976,314
Energy - 3.2%
Chevron Corp.		471		67,636
Exxon Mobil Corp.		833		85,582
(Cost $180,333)				153,218
Financials - 11.8%
Aflac, Inc.		837		69,228
Chubb Ltd.		174		39,921
Cincinnati Financial Corp.		743		76,373
Commerce Bancshares, Inc.		660		33,376
FactSet Research Systems, Inc.		55		24,940
Franklin Resources, Inc.		4,095		101,556
S&P Global, Inc.		74		30,771
SEI Investments Co.		650		38,136
T. Rowe Price Group, Inc.		1,051		105,237
UMB Financial Corp.		445		31,889
W.R. Berkley Corp.		213		15,453
(Cost $572,795)				566,880
Health Care - 7.6%
Abbott Laboratories		401		41,820
AbbVie, Inc.		648		92,269
Becton Dickinson and Co.		150		35,427
Cardinal Health, Inc.		851		91,125
Medtronic PLC		1,210		95,917
West Pharmaceutical Services, Inc.		34		11,926
(Cost $342,638)				368,484
Industrials - 20.9%
ABM Industries, Inc.		814		33,366
Automatic Data Processing, Inc.		232		53,341
Brady Corp., Class A		476		26,785
C.H. Robinson Worldwide, Inc.		789		64,737
Carlisle Cos., Inc.		154		43,183
Caterpillar, Inc.		234		58,669
Cintas Corp.		62		34,302
Dover Corp.		310		43,760
Emerson Electric Co.		720		64,008
Expeditors International of Washington, Inc.		319		38,388
Fastenal Co.		1,431		85,817
Franklin Electric Co., Inc.		343		30,527
Illinois Tool Works, Inc.		307		74,358
Lincoln Electric Holdings, Inc.		331		65,558
MSA Safety, Inc.		297		51,720
Nordson Corp.		139		32,712
Pentair PLC		1,169		75,447
Stanley Black & Decker, Inc.		1,421		129,169
(Cost $913,639)				1,005,847
Information Technology - 5.5%
Badger Meter, Inc.		197		29,032
International Business Machines Corp.		944		149,681
Microchip Technology, Inc.		780		65,083
Roper Technologies, Inc.		40		21,530
(Cost $229,051)				265,326
Materials - 13.0%
Air Products and Chemicals, Inc.		191		51,675
Albemarle Corp.		108		13,097
Amcor PLC		10,640		100,867
AptarGroup, Inc.		334		42,381
Ecolab, Inc.		280		53,684
HB Fuller Co.		436		32,997
International Flavors & Fragrances, Inc.		721		54,349
Linde PLC		119		49,239
Nucor Corp.		319		54,221
PPG Industries, Inc.		409		58,074
Sherwin-Williams Co.		118		32,898
Sonoco Products Co.		1,171		64,592
Stepan Co.		192		15,854
(Cost $653,945)				623,928
Real Estate - 4.4%
Essex Property Trust, Inc. REIT		497		106,089
Federal Realty Investment Trust REIT		1,086		103,811
(Cost $227,214)				209,900
Utilities - 5.5%
California Water Service Group		545		27,561

Consolidated Edison, Inc.	884		79,657
Essential Utilities, Inc.	1,406		50,068
Eversource Energy	1,098		65,232
NextEra Energy, Inc.	742		43,414
(Cost $318,846)			265,932
TOTAL COMMON STOCKS (Cost $4,986,415)			4,775,669
EXCHANGE TRADED FUNDS - 0.4%
ProShares S&P 500 Dividend Aristocrats ETF (Cost $17,689)	200		18,220
CASH EQUIVALENTS - 0.1%
DWS Government Money Market Series “Institutional Shares”, 5.31% (a) (Cost $2,428)	2,428		2,428
TOTAL INVESTMENTS - 99.7% (Cost $5,006,532)		$	4,796,317
Other assets and liabilities, net - 0.3%			16,538
NET ASSETS - 100.0%		$	4,812,855

For information on the Fund’s policies regarding the valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual or annual financial statements.

A summary of the Fund’s transactions with affiliated investments during the period ended November 30, 2023 is as follows:

Value ($) at 8/31/2023	Purchases Cost ($)	Sales Proceeds ($)	Net Realized Gain/(Loss) ($)	Net Change in Unrealized Appreciation (Depreciation) ($)	Income ($)	Capital Gain Distributions ($)	Number of Shares at 11/30/2023	Value ($) at 11/30/2023
CASH EQUIVALENTS — 0.1%
DWS Government Money Market Series “Institutional Shares”, 5.31% (a)
1,971	46,592	(46,135)	—	—	44	—	2,428	2,428

(a) Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end.

REIT: Real Estate Investment Trust

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 November 30, 2023 in valuing the Fund’s investments.

Assets	Level 1		Level 2		Level 3		Total
Common Stocks (a)	$	4,775,669	$	—	$	—	$	4,775,669
Exchange-Traded Funds		18,220		—		—		18,220
Short-Term Investments (a)		2,428		—		—		2,428
TOTAL	$	4,796,317	$	—	$	—	$	4,796,317

(a) See Schedule of Investments for additional detailed categorizations.

OBTAIN A FUND PROSPECTUS

To obtain a summary prospectus, or prospectus, download one from www.Xtrackers.com, talk to your financial representative or call (855) 329-3837. Investing involves risk, including the possible loss of principal. We advise you to carefully consider the product’s objectives, risks, charges and expenses before investing. The summary prospectus and prospectus contain this and other important information about the investment product. Please read the prospectus carefully before you invest. Xtrackers ETFs (“ETFs”) are managed by DBX Advisors LLC (the “Adviser”), and distributed by ALPS Distributors, Inc. (“ALPS”). The Adviser is a subsidiary of DWS Group GmbH & Co. KGaA, and is not affiliated with ALPS. Shares are not individually redeemable, and owners of Shares may acquire those Shares from the Fund, or tender such Shares for redemption to the Fund, in Creation Units only.

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.

NO BANK GUARANTEE | NOT FDIC INSURED | MAY LOSE VALUE

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R-089711-1 (5/24) DBX005195 (5/24)