SUPPLEMENT TO THE CURRENTLY EFFECTIVE PROSPECTUS

DWS Short Duration High Income Fund

The following information replaces the existing similar disclosure in the “WHO MANAGES AND OVERSEES THE FUND” sub-heading of the “FUND DETAILS” section of the fund’s prospectus:

The Advisor has contractually agreed through January 31, 2019 to waive its fees and/or reimburse fund expenses to the extent necessary to maintain the fund’s total annual operating expenses (excluding certain expenses such as extraordinary expenses, taxes, brokerage, interest expense and acquired fund fees and expenses) at 0.85% for Class T. The agreement may only be terminated with the consent of the fund’s Board.

Please Retain This Supplement for Future Reference

December 12, 2018

PROSTKR-1090