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Name

As of 08/15/2023

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

DWS RREEF Real Assets Fund

AAAAX | Fund

$10.95

$4.94 B

3.75%

$0.41

1.28%

Vitals

YTD Return

10.0%

1 yr return

15.8%

3 Yr Avg Return

11.2%

5 Yr Avg Return

4.8%

Net Assets

$4.94 B

Holdings in Top 10

22.1%

52 WEEK LOW AND HIGH

$11.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.28%

SALES FEES

Front Load 5.75%

Deferred Load N/A

TRADING FEES

Turnover 65.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000

IRA

$500

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 08/15/2023

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

DWS RREEF Real Assets Fund

AAAAX | Fund

$10.95

$4.94 B

3.75%

$0.41

1.28%

AAAAX - Profile

Distributions

  • YTD Total Return 10.0%
  • 3 Yr Annualized Total Return 11.2%
  • 5 Yr Annualized Total Return 4.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.15%
DIVIDENDS
  • Dividend Yield 3.8%
  • Dividend Distribution Frequency SemiAnnual

Fund Details

  • Legal Name
    DWS RREEF Real Assets Fund
  • Fund Family Name
    DWS Funds
  • Inception Date
    Jul 30, 2007
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    John Vojticek

Fund Description

Main investments. The fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes (calculated at the time of any investment), in a combination of investments that the Advisor believes offer exposure to “real assets.” Currently, the Advisor intends to seek exposure to the following real assets sectors (either directly or through investment in companies that own or derive a significant portion of their value from such real assets or the production thereof): listed real estate (REITs and real estate operating companies), commodities (commodity futures), natural resource-related equities (energy, metals and mining, paper and forestry, agriculture), listed infrastructure (regulated utilities, transport, communications, pipelines, seaports, airports and toll roads), gold and other precious metals, master limited partnerships (MLPs), Treasury Inflation-Protected Securities (TIPS) and other fixed income securities. However, these exposures may change from time to time and exposures to new real assets sectors may be added or exposures to existing real assets sectors may be deleted.Due to regulatory changes, effective June 11, 2026, the fund will replace the 80% investment policy and related disclosures set forth in this prospectus. Specifically, effective June 11, 2026, under normal circumstances, the fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in a combination of investments that the Advisor believes offer exposure to “real assets.” Derivatives instruments that provide exposure to the investments above or exposure to one or more market risk factors associated with such investments are included in the fund’s 80% investment policy, consistent with the fund’s investment policies and limitations with respect to investments in derivatives.The fund generally invests between 15% and 75% of fund assets in securities of foreign issuers, including up to 10% of fund assets in issuers located in countries with new or emerging markets.The fund may invest up to 10% of its net assets in affiliated and unaffiliated exchange-traded funds (ETFs) and may also invest in certain other securities, including fixed income securities, and derivative instruments, including gold futures contracts and other commodity-linked futures (see “Derivatives” subsection). With respect to investments in fixed income securities, the fund may hold securities of any quality, maturity or duration.The fund may gain exposure to the commodity markets by investing up to 25% of the fund’s total assets in a wholly owned subsidiary formed under the laws of the Cayman Islands (the “Subsidiary”), which shares the same portfolio management team as the fund and invests mainly in commodity-linked futures contracts and fixed income instruments, some of which may serve as margin or collateral for the Subsidiary’s derivatives positions.Management process. The investment process starts with top-down allocations to each of the underlying real assets sectors, that comprise listed real estate, commodities, natural resource-related equities, listed infrastructure, gold and other precious metals, master limited partnerships (MLPs), Treasury Inflation-Protected Securities (TIPS) and other fixed income securities, and then continues with allocations to the subsectors within each main sector. Portfolio management continuously monitors the current economic environment and reviews the sector and subsector allocations accordingly. Sector allocations are adjusted on an ongoing basis based upon portfolio management’s macro views in an effort to increase portfolio efficiency through tactical allocations. Within each of the sectors, portfolio management uses bottom-up analysis to value each individual security and judges the relative attractiveness of each to select what it believes to be the best investments to fill the sector allocations defined by the top-down allocation process. In addition to valuing the cash flow stream of the underlying assets, portfolio management’s bottom-up analysis also considers a company’s balance sheet, the quality and geography of the assets, the company’s management team, market themes, liquidity, and a number of environmental, social and governance (ESG) considerations, each of which can impact an investment’s potential risk and return expectations. The portfolio is monitored on an ongoing basis for risk management purposes.Derivatives. In addition to commodity-linked futures contracts, the fund may also use other types of derivatives, which are financial instruments whose performance is derived, at least in part, from the performance of an underlying asset, security or index, (i) for hedging purposes; (ii) for risk management; (iii) for non-hedging purposes to seek to enhance potential gains; or (iv) as a substitute for direct investment in a particular asset class or to keep cash on hand to meet shareholder redemptions.Securities lending. The fund may lend securities (up to one-third of total assets) to approved institutions, such as registered broker-dealers, pooled investment vehicles, banks and other financial institutions. In connection with such loans, the fund receives liquid collateral in an amount that is based on the type and value of the securities being lent, with riskier securities generally requiring higher levels of collateral.
Read More

AAAAX - Performance

Return Ranking - Trailing

Period AAAAX Return Category Return Low Category Return High Rank in Category (%)
YTD 10.0% -23.7% 16.4% 15.67%
1 Yr 15.8% -8.9% 48.3% 8.15%
3 Yr 11.2%* -2.2% 16.4% 2.45%
5 Yr 4.8%* -0.7% 13.4% 2.10%
10 Yr 7.2%* 0.9% 11.8% 52.65%

* Annualized

Return Ranking - Calendar

Period AAAAX Return Category Return Low Category Return High Rank in Category (%)
2025 8.8% -40.8% 20.6% 0.44%
2024 2.7% -21.0% 24.5% 53.30%
2023 0.2% -24.2% 27.8% 5.14%
2022 -13.4% -23.1% 11.7% 3.73%
2021 20.5% -100.0% 20.6% 20.16%

Total Return Ranking - Trailing

Period AAAAX Return Category Return Low Category Return High Rank in Category (%)
YTD 10.0% -23.7% 16.4% 15.67%
1 Yr 15.8% -12.8% 48.3% 13.77%
3 Yr 11.2%* -3.4% 16.4% 10.92%
5 Yr 4.8%* -1.1% 13.4% 4.81%
10 Yr 7.2%* 0.9% 11.8% 65.47%

* Annualized

Total Return Ranking - Calendar

Period AAAAX Return Category Return Low Category Return High Rank in Category (%)
2025 12.8% -40.8% 20.6% 0.44%
2024 5.3% -21.0% 24.5% 53.30%
2023 2.3% -24.2% 27.8% 6.07%
2022 -9.9% -23.1% 11.7% 6.45%
2021 23.5% -2.9% 23.1% 36.78%

NAV & Total Return History

AAAAX - Holdings

Concentration Analysis

AAAAX Category Low Category High AAAAX % Rank
Net Assets 4.94 B 1.12 M 110 B 12.74%
Number of Holdings 197 2 10961 59.08%
Net Assets in Top 10 1.06 B -31.7 M 22 B 13.36%
Weighting of Top 10 22.11% 10.8% 100.0% 53.88%

Top 10 Holdings

  1. DWS Government Agency Securities Portfolio DWS Government Cash Institutional Shares 4.76%
  2. Williams Cos Inc/The 2.70%
  3. Prologis Inc 2.11%
  4. U.S. Treasury Bills 1.93%
  5. American Tower Corp 1.90%
  6. U.S. Treasury Bills 1.83%
  7. TC Energy Corp 1.77%
  8. Equinix Inc 1.73%
  9. National Grid PLC 1.71%
  10. U.S. Treasury Bills 1.67%

Asset Allocation

Weighting Return Low Return High AAAAX % Rank
Stocks 		77.76% -45.72% 98.42% 36.33%
Cash 		19.67% -97.12% 185.58% 85.59%
Bonds 		5.90% -39.76% 93.84% 65.14%
Other 		0.29% -1.25% 197.12% 8.56%
Preferred Stocks 		0.00% -0.03% 14.00% 81.84%
Convertible Bonds 		0.00% 0.00% 25.49% 86.64%

Stock Sector Breakdown

Weighting Return Low Return High AAAAX % Rank
Real Estate 		42.49% 0.00% 90.14% 3.61%
Utilities 		18.03% 0.00% 40.29% 7.01%
Energy 		14.79% 0.00% 38.61% 18.05%
Basic Materials 		11.17% 0.00% 60.23% 12.53%
Industrials 		9.63% 0.09% 32.39% 56.69%
Communication Services 		1.86% 0.00% 28.59% 93.63%
Consumer Cyclical 		1.21% 0.00% 20.84% 91.93%
Consumer Defense 		0.82% 0.00% 31.85% 93.63%
Technology 		0.00% 0.00% 39.48% 98.09%
Healthcare 		0.00% 0.00% 30.30% 94.69%
Financial Services 		0.00% 0.00% 30.34% 95.33%

Stock Geographic Breakdown

Weighting Return Low Return High AAAAX % Rank
US 		44.00% -4.82% 95.75% 38.83%
Non US 		33.76% -46.69% 57.06% 35.49%

Bond Sector Breakdown

Weighting Return Low Return High AAAAX % Rank
Government 		90.02% 0.00% 98.64% 0.84%
Cash & Equivalents 		19.67% 0.10% 100.00% 80.79%
Derivative 		0.29% 0.00% 41.88% 70.77%
Securitized 		0.00% 0.00% 83.28% 83.92%
Corporate 		0.00% 0.00% 99.90% 96.24%
Municipal 		0.00% 0.00% 31.28% 64.72%

Bond Geographic Breakdown

Weighting Return Low Return High AAAAX % Rank
US 		5.90% -177.12% 87.76% 35.07%
Non US 		0.00% -39.00% 137.36% 90.61%

AAAAX - Expenses

Operational Fees

AAAAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.28% 0.16% 2.71% 37.37%
Management Fee 0.78% 0.00% 1.70% 81.16%
12b-1 Fee 0.24% 0.00% 1.00% 14.34%
Administrative Fee 0.10% 0.01% 0.70% 45.79%

Sales Fees

AAAAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.75% 0.00% 5.75% 16.09%
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

AAAAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

AAAAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 65.00% 0.00% 441.00% 65.79%

AAAAX - Distributions

Dividend Yield Analysis

AAAAX Category Low Category High AAAAX % Rank
Dividend Yield 3.75% 0.00% 10.92% 12.68%

Dividend Distribution Analysis

AAAAX Category Low Category High Category Mod
Dividend Distribution Frequency SemiAnnual Annually Monthly Monthly

Net Income Ratio Analysis

AAAAX Category Low Category High AAAAX % Rank
Net Income Ratio 1.15% -5.20% 6.33% 66.45%

Capital Gain Distribution Analysis

AAAAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

AAAAX - Fund Manager Analysis

Managers

John Vojticek

Start Date

Tenure

Tenure Rank

Jan 15, 2015

7.38

7.4%

Co-Head of Liquid Real Assets / Chief Investment Officer of Liquid Real Assets John W. Vojticek has served as a Managing Director and Chief Investment Officer of Real Estate & Infrastructure Securities and Global Portfolio Manager for RREEF since July 2011 and was Co-Head of Americas Real Estate Securities from 2006 to July 2011. Mr. Vojticek was responsible for launching the firm's first listed infrastructure securities strategy in June 2008 and served as Head of the Listed Infrastructure Securities business from June 2008 until his appointment as Chief Information Officer in July 2011. Mr. Vojticek is an associate member of the National Association of Real Estate Investment Trusts. Mr. Vojticek holds a B.S. in Business Administration from the University of Southern California.

Evan Rudy

Start Date

Tenure

Tenure Rank

Apr 26, 2016

6.1

6.1%

Evan Rudy, CFA, Director. Evan Rudy joined Deutsche Asset Management in 2007. Previously, he worked as an Analyst at the Townsend Group, a real estate consulting firm. Portfolio Analyst, Real Estate & Infrastructure Securities: Chicago. BS, Miami University.

Francis Greywitt

Start Date

Tenure

Tenure Rank

Apr 26, 2016

6.1

6.1%

Portfolio Manager, Real Estate Securities Francis was a REIT research analyst for nearly 5 years with KeyBanc Capital Markets where he covered the office sector. BBA in Finance from St. Bonaventure University in 2000; MBA in with concentrations in International Business, Economics and Finance from University of Chicago Booth School of Business in 2012

Tenure Analysis

Category Low Category High Category Average Category Mode
0.03 30.27 6.52 9.25

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