DWS EAFE® Equity Index Fund
Data updated: 2019-11-26
C000033661 — DWS EAFE® Equity Index Fund. Money Market · $27.88M AUM · 0.27% expense ratio. Holdings, fees, performance and SEC filings.
C000033661 Fund Overview
DWS EAFE® Equity Index Fund is a US mutual fund managed by Deutsche Dws Institutional Funds, categorised as Money Market. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Deutsche Dws Institutional Funds
- Category: Money Market
- Assets under management: $27.88M
- SEC CIK: 0000862157
- SEC series ID: S000012410
- Share class ID: C000033661
C000033661 Investment Objective and Strategy
DWS EAFE® Equity Index Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Deutsche Dws Institutional Funds.
Investment objective
"The fund seeks to replicate, as closely as possible, before the deduction of expenses, the performance of the Morgan Stanley Capital International (""MSCI"") EAFE® Index (EAFE® Index), which emphasizes stocks of companies in major markets in Europe, Australasia and the Far East. The fund invests for capital appreciation, not income; any dividend and interest income is incidental to the pursuit of its objective."
Principal investment strategy
Main investments. Under normal circumstances, the fund invests at least 80% of assets, determined at the time of purchase, in stocks of companies included in the EAFE Index and in derivative instruments, such as futures contracts, options and forward currency contracts that provide exposure to the stocks of companies in the index. The fund's securities are weighted to attempt to make the fund's total investment characteristics similar to those of the index as a whole. The fund may also hold short-term debt securities and money market instruments. The EAFE Index (Europe, Australasia and the Far East) is a widely accepted benchmark of international stock performance. It tracks equity securities in Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland and the United Kingdom.
Stocks in the EAFE Index are weighted according to their total market value. Morgan Stanley, the index provider, makes no representation or warranty, express or implied, to the owners of the fund or any member of the public regarding the advisability of investing in securities generally, or in the fund particularly, or the ability of the EAFE Index to track general stock market performance. While the market capitalization range of the EAFE Index changes throughout the year, as of February 28, 2018, the market capitalization range of the EAFE Index was between $1.61 billion and $266.80 billion. The EAFE Index is rebalanced semi-annually in May and November. Management process. Portfolio management uses quantitative analysis techniques to structure the fund to seek to obtain a high correlation to the index while seeking to keep the fund as fully invested as possible in all market environments.
Portfolio management seeks a long-term correlation between fund performance, before expenses, and the index of 95% or better (perfect correlation being 100%). Portfolio management uses an optimization strategy, buying the largest stocks in the index in approximately the same proportion they represent in the index, then investing in a statistically selected sample of the smaller securities found in the index. Portfolio management's optimization process is intended to produce a portfolio whose industry weightings, market capitalizations and fundamental characteristics (price-to-book ratios, price-to-earnings ratios, debt-to-asset ratios and dividend yields) closely replicate those of the index. This approach attempts to maximize the fund's liquidity and returns while minimizing its costs. Derivatives.
Portfolio management generally may use futures contracts, which are a type of derivative (a contract whose value is based on, for example, indices, currencies or securities) as a substitute for direct investment in a particular asset class or to keep cash on hand to meet shareholder redemptions. In addition, portfolio management generally 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 or to facilitate transactions in foreign currency denominated securities. 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.
Securities Lending. The fund may lend securities (up to one-third of total assets) to approved institutions, such as registered broker-dealers, banks and pooled investment vehicles.
C000033661 Costs and Fees
C000033661 costs about $27 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.27%
- Gross expense ratio: 1.04%
- Portfolio turnover: 4%
- Brokerage commissions: 0.99 bps of average net assets (SEC N-CEN)
C000033661 Cashflows
Over the 12 months to 2019-09, DWS EAFE® Equity Index Fund had net outflows of $15.54M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2019-09 | −$880.34K |
| 2019-08 | −$290.34K |
| 2019-07 | −$14.37M |
C000033661 Debt Constituents
No individual debt constituents are reported in DWS EAFE® Equity Index Fund's latest SEC N-PORT filing.
C000033661 Prospectus and SEC Filings
Official DWS EAFE® Equity Index Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
Related Funds
Other Money Market funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.