Xtrackers RREEF Global Natural Resources ETF

Xtrackers RREEF Global Natural Resources ETF (NRES) is an actively managed ETF. It owns energy, mining, farming and forestry companies around the world. Its subadvisor, RREEF America, picks the holdings; the fund does not track an index. Its 0.45% expense ratio is above the 0.36% average for similar funds. With $37.4 million in net assets as of August 31, 2026, it is much smaller than rivals such as GNR and GUNR.

• Over the year to Oct 27, 2026, NRES returned +26.3%, 5th of 8 among similar funds.
• Its worst full calendar year was 2025 (+27.1%); its best was 2025 (+27.1%).
• The deepest fall in its price history was 22.2% (May 17, 2024 to Apr 8, 2025), recovered by Sep 26, 2025.

As of Aug 31, 2026, the fund held 58 securities; the ten largest made up 37.25% of assets, and 2.04% sat in cash and money-market holdings.

• Over the three months to Aug 31, 2026, investors withdrew a net $1.6M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: -8.13%, +6.67%, +8.89%.

NRES does not copy an index. It puts at least 80% of its net assets into natural resources companies. The prospectus defines these using industry codes from the Global Industry Classification Standard (GICS). They cover five groups: agriculture (fertilizers, forest products, paper packaging and timber REITs), oil and gas, coal, industrial metals (aluminum, steel, copper and diversified mining), and precious metals such as gold and silver. Most of the money normally goes to companies based outside the US or doing a lot of business abroad, including in emerging markets. Up to 20% can go to related companies, high-yield 'junk' bonds, cash or other ETFs.

DBX Advisors runs the portfolio from a target list supplied by its affiliate RREEF, which reviews that list daily. RREEF first works top-down. It sets weights across segments and regions by looking at supply and demand, interest rates, inflation, exchange rates and 'resource nationalism', meaning governments tightening control of local resources. It then works bottom-up, valuing each company's cash flows, balance sheet, asset quality, management and ESG (environmental, social and governance) factors.

The fund is 'non-diversified', so it can put more money into fewer companies. Portfolio turnover was 143%, which means it traded more than the full value of its holdings in a year. That much trading can add hidden costs. As of August 31, 2026, it held 58 issuers. The top 10 made up 37% of assets, and the fund held no derivatives.

• NRES charges 0.45% a year, versus an average of 0.36% for the similar funds below (7th of 8, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $46 in the first year and $567 over 10 years (assuming a 5% annual return).

It is a concentrated, non-diversified bet on commodity producers with a short track record, so it fits better as a small add-on than as a foundation.

NRES gives exposure to commodity producers. Shell, Nutrien, Newmont and Glencore were its largest holdings as of August 31, 2026. Its one-year beta of 0.5 means it moved, on average, about half as much as the overall stock market. It launched on February 27, 2024, so it has no record from the 2008, 2020 or 2022 downturns. Its only full calendar year, 2025, returned 27.05%. Its deepest drop was 22.2%, from May 17, 2024 to April 8, 2025. It got back to its old peak by September 26, 2025, about 5.6 months after the low. A retiree who had to sell near that low would have locked in the loss. The trailing yield was 2.12% as of October 27, 2026, paid quarterly. In the SEC's standard example, $10,000 invested costs $46 in fees over one year and $567 over 10 years. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.