Continue to site >
Trending ETFs
You have successfully subscribed to Advisor Access. Thank you!
Help us personalize your experience.
Which type of investor describes you best?
Help us personalize your experience.
What is your AUM?
Knowing your investable assets will help us build and prioritize features that will suit your investment needs.

Congratulations on personalizing your experience.

Email is verified. Thank you!

Name

As of 06/01/2026

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 Multi-Asset Conservative Allocation Fund

SPBAX | Fund

$13.12

$57.7 M

2.79%

$0.37

0.86%

Vitals

YTD Return

3.8%

1 yr return

11.6%

3 Yr Avg Return

9.1%

5 Yr Avg Return

2.3%

Net Assets

$57.7 M

Holdings in Top 10

89.6%

52 WEEK LOW AND HIGH

$13.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.86%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 39.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$2,500

IRA

$1,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 06/01/2026

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 Multi-Asset Conservative Allocation Fund

SPBAX | Fund

$13.12

$57.7 M

2.79%

$0.37

0.86%

SPBAX - Profile

Distributions

  • YTD Total Return 3.8%
  • 3 Yr Annualized Total Return 9.1%
  • 5 Yr Annualized Total Return 2.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.45%
DIVIDENDS
  • Dividend Yield 2.8%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    DWS Multi-Asset Conservative Allocation Fund
  • Fund Family Name
    DWS Funds
  • Inception Date
    Nov 15, 1996
  • Shares Outstanding
    N/A
  • Share Class
    S
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Dokyoung Lee

Fund Description

Main investments. The fund seeks to achieve its objective by investing in a broad range of both traditional asset classes (such as equity and fixed income investments) and alternative asset classes (such as real estate including real estate investment trusts (REITs), infrastructure, convertibles, commodities, currencies and absolute return strategies).Investments may be made directly in securities and derivatives (see “Derivatives” subsection) or in DWS funds (i.e., mutual funds, exchange-traded funds (ETFs) and other pooled investment vehicles managed by DWS Investment Management Americas, Inc., the fund’s investment advisor, or one of its affiliates). The fund may also invest in securities of unaffiliated mutual funds or ETFs when the economic exposure to a particular market or sector is not available through a DWS fund. The fund may invest in passive ETFs which seek to replicate the performance of an index, and in active ETFs, which do not replicate an index and are actively managed. DWS funds and other funds and ETFs in which the fund may invest are referred to as “underlying funds.” The fund’s allocations among direct investments and underlying funds will vary over time and at times the fund may operate as a fund-of-funds, investing almost entirely in underlying funds. The fund may be appropriate for investors seeking total return consistent with conservative levels of overall risk.Under normal market conditions, the fund invests between 20% and 50% of assets in equity securities, including investments in underlying funds that invest primarily in equity securities, and between 50% and 80% of assets in fixed income securities, including investments in underlying funds that invest primarily in fixed income securities. Variations outside of the stated ranges in the target percentage allocation for equity securities and fixed income securities are permitted up to plus or minus 10% of the fund's assets. The fund may also allocate up to 20% of fund assets in alternative asset classes in place of either fixed income or equity allocations.The fund can buy many types of securities (directly or indirectly through investment in underlying funds), among them common stocks, including dividend-paying stocks, convertible securities, corporate bonds, government bonds, municipal securities, inflation-indexed bonds, mortgage- and asset-backed securities and ETFs. The fund may invest in securities of any size, investment style, category or credit quality (including high yield debt securities, commonly referred to as junk bonds), and from any country (including emerging markets).Management process. Using a risk/return strategic asset allocation process, portfolio management allocates the fund’s assets among various asset categories. Portfolio management periodically reviews the fund’s allocations and may adjust them based on current or anticipated market conditions, to manage risk consistent with the fund’s overall investment strategy or based upon other relevant considerations.Portfolio management also utilizes a tactical asset allocation process to adjust allocations in response to short-term market changes from time to time. Tactical allocations reflect views from DWS’s Chief Investment Officer and global research platform. Tactical allocations, which may include derivative instruments, have shorter investment horizons as positions reflect short-term views and may be implemented as: (i) changes to a fund’s strategic asset allocation, (ii) through the addition of new allocations, or (iii) through changes to prior tactical allocations.Derivatives. The fund may invest in derivatives, which are financial instruments whose performance is derived, at least in part, from the performance of an underlying asset, security or index. In particular, portfolio management may use forward currency contracts to hedge the fund’s exposure to changes in foreign currency exchange rates on its foreign currency denominated portfolio holdings, to facilitate transactions in foreign currency denominated securities or to seek to enhance total returns. In addition, portfolio management may use futures contracts and interest rate swap contracts to gain exposure to different parts of the yield curve for duration management (i.e., reducing or increasing the sensitivity of the fund’s portfolio to interest rate changes).Portfolio management may also use futures contracts to (i) hedge against changes in a particular market or security; (ii) gain exposure to a particular asset class; or (iii) to keep cash on hand to meet shareholder redemptions or for other needs while maintaining exposure to the stock market.The fund may also use other types of derivatives (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.
Read More

SPBAX - Performance

Return Ranking - Trailing

Period SPBAX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.8% -0.9% 20.5% 78.76%
1 Yr 11.6% 5.1% 46.8% 77.46%
3 Yr 9.1%* 5.1% 24.0% 75.91%
5 Yr 2.3%* 1.1% 9.9% 94.99%
10 Yr 4.7%* 3.0% 15.5% 83.23%

* Annualized

Return Ranking - Calendar

Period SPBAX Return Category Return Low Category Return High Rank in Category (%)
2025 -1.2% -1.2% 12.6% 99.74%
2024 1.1% -3.2% 11.5% 73.90%
2023 6.5% -1.0% 27.4% 52.59%
2022 -16.7% -35.0% -9.8% 51.97%
2021 0.6% -11.5% 14.6% 64.42%

Total Return Ranking - Trailing

Period SPBAX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.8% -0.9% 20.5% 78.76%
1 Yr 11.6% 5.1% 46.8% 77.46%
3 Yr 9.1%* 5.1% 24.0% 75.91%
5 Yr 2.3%* 1.1% 9.9% 94.99%
10 Yr 4.7%* 3.0% 15.5% 83.23%

* Annualized

Total Return Ranking - Calendar

Period SPBAX Return Category Return Low Category Return High Rank in Category (%)
2025 10.0% 5.0% 24.2% 80.88%
2024 6.6% 0.6% 16.3% 64.60%
2023 11.2% 2.6% 28.2% 25.91%
2022 -14.6% -28.5% -3.1% 79.27%
2021 1.8% -6.4% 32.0% 98.92%

NAV & Total Return History

SPBAX - Holdings

Concentration Analysis

SPBAX Category Low Category High SPBAX % Rank
Net Assets 57.7 M 415 K 48.2 B 94.57%
Number of Holdings 30 2 4806 48.84%
Net Assets in Top 10 54.4 M 392 K 11 B 90.18%
Weighting of Top 10 89.62% 8.8% 119.4% 28.42%

Top 10 Holdings

  1. DWS Equity 500 Index Fund 18.89%
  2. iShares GNMA Bond ETF 12.66%
  3. iShares iBoxx $ Investment Grade Corporate Bond ETF 12.01%
  4. iShares U.S. Treasury Bond ETF 11.08%
  5. DWS High Income Fund 'Institutional' 9.67%
  6. Vanguard Total International Bond ETF 9.07%
  7. Vanguard Intermediate-Term Corporate Bond ETF 6.22%
  8. iShares JP Morgan USD Emerging Markets Bond ETF 6.08%
  9. iShares Core MSCI Europe ETF 2.02%
  10. DWS Emerging Markets Equity Fund 'Institutional' 1.92%

Asset Allocation

Weighting Return Low Return High SPBAX % Rank
Stocks 		99.18% 0.00% 100.03% 34.37%
Cash 		0.86% -35.68% 30.36% 60.21%
Convertible Bonds 		0.83% 0.00% 71.77% 53.26%
Preferred Stocks 		0.00% 0.00% 9.24% 57.62%
Bonds 		0.00% 0.00% 78.27% 67.70%
Other 		0.00% -1.71% 15.66% 88.11%

Stock Sector Breakdown

Weighting Return Low Return High SPBAX % Rank
Technology 		20.29% 0.22% 27.92% 26.84%
Financial Services 		12.83% 0.00% 30.67% 84.21%
Healthcare 		11.25% 0.00% 24.25% 82.89%
Consumer Cyclical 		10.87% 0.00% 14.20% 30.53%
Industrials 		10.67% 0.14% 17.90% 41.05%
Real Estate 		8.82% 0.00% 43.16% 19.21%
Communication Services 		7.82% 0.00% 11.11% 26.58%
Consumer Defense 		5.09% 0.00% 18.62% 90.00%
Energy 		4.84% 0.00% 62.93% 56.58%
Basic Materials 		3.91% 0.00% 32.82% 66.58%
Utilities 		3.63% 0.00% 48.33% 45.79%

Stock Geographic Breakdown

Weighting Return Low Return High SPBAX % Rank
US 		99.18% 0.00% 100.03% 34.37%
Non US 		0.00% 0.00% 21.88% 60.47%

SPBAX - Expenses

Operational Fees

SPBAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.86% 0.05% 5.52% 54.15%
Management Fee 0.10% 0.00% 1.25% 36.69%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.10% 0.01% 0.70% 47.19%

Sales Fees

SPBAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

SPBAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 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.

SPBAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 39.00% 2.00% 380.00% 59.21%

SPBAX - Distributions

Dividend Yield Analysis

SPBAX Category Low Category High SPBAX % Rank
Dividend Yield 2.79% 0.00% 7.99% 20.41%

Dividend Distribution Analysis

SPBAX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Monthly Monthly

Net Income Ratio Analysis

SPBAX Category Low Category High SPBAX % Rank
Net Income Ratio 1.45% -1.22% 6.83% 63.52%

Capital Gain Distribution Analysis

SPBAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

View More +

SPBAX - Fund Manager Analysis

Managers

Dokyoung Lee

Start Date

Tenure

Tenure Rank

Dec 01, 2018

3.5

3.5%

Mr. Lee joined DWS in 2018 with 24 years of industry experience. Before joining, he co-managed group funds at the global multi-asset group at Oppenheimer Funds. Prior to that, he held a series of research and portfolio management leadership positions at AllianceBernstein in asset allocation and various value equity strategies including emerging markets, Japanese and U.S. equities He earned BS in Electrical Engineering & Computer Science from Princeton University; CFA Charterholder.

Fabian Degen

Start Date

Tenure

Tenure Rank

May 10, 2021

1.06

1.1%

Fabian Degen, CFA, Director. ■ Joined DWS in 2007. ■ Portfolio manager for US and Global Value Equity: New York. ■ Bachelor of International Business Administration in Investments and Finance from the International University of Applied Sciences Bad Honnef, Bonn with educational exchanges at the University of Maine (USA).

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 28.73 6.39 2.41

Advertisement

×

Wait! Do you know all the important aspects of mutual funds?

×

Free Advisor Access newsletter emailed to you.

Receive free and exclusive email updates for financial advisors about best performers, news, CE accredited webcasts and more.

Sign up for Advisor Access

Receive email updates about best performers, news, CE accredited webcasts and more.

Disclaimer: By registering, you agree to share your data with MutualFunds.com and opt-in to receiving occasional communications about projects and events. The contents of this form are subject to the MutualFunds.com Privacy Policy. You can unsubscribe at any time.