Fund Evaluator:
DWS Global Macro A (DBISX)
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Best Performing in Macro Trading Over the Last Year
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Fund Details
DWS Global Macro A Overview
DWS Global Macro A (DBISX) is an actively managed Alternative Macro Trading fund. DWS launched the fund in 2001.
The investment seeks to achieve total return. The fund invests in equities (common and preferred), bonds, structured notes, money market instruments, exchange traded funds (ETFs), and cash. There are no limits on asset class exposures, provided that risk parameters are met. It may also invest in alternative asset classes (such as real estate, REITs, infrastructure, convertibles, commodities and currencies). The fund may also invest in asset backed securities, short-term securities and cash equivalents.
About DWS Global Macro A (DBISX)
There are 3 members of the management team with an average tenure of 9.24 years: Henning Potstada (2017), Christoph-Arend Schmidt (2017), Stefan Flasdick (2017). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: MSCI ACWI All Cap NR USD index with a weighting of 100% and Bloomberg Global Aggregate TR USD index with a weighting of 100%. DWS Global Macro A has 76 securities in its portfolio. The top 10 holdings constitute 39.3% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
DWS Global Macro A is part of the Alternative Strategies global asset class and is within the Alternative fund group. DWS Global Macro A has 26.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 15.8%. There is 23.8% allocated to foreign stock, and 1.7% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 36.4% (33.9% domestic bond, 2.5% foreign bond and 0.0% convertible bond). DWS Global Macro A has 11.6% of the portfolio in cash.
Assets Under Management
The fund has $31 million in total assets, which is below the $296 million average for the Macro Trading category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
DBISX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The DWS Global Macro A expense ratio is high compared to funds in the Macro Trading category. DWS Global Macro A has an expense ratio of 1.12%, which is 29% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. DWS Global Macro A has a portfolio turnover rate of 12%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 95% for the Macro Trading category.
Recently, in the month of July 2026, DWS Global Macro A returned 0.7%, which earned it a grade of C, as the Macro Trading category had an average return of 0.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
DWS Global Macro A has a trailing yield of 1.82%, which is below the 1.90% category average. The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
DWS Global Macro A Grades
Year to date, the fund has returned 3.7%, 1.7 percentage points worse than the category, which translates into a grade of D. The fund has returned 11.2% over the past year (grade of B), 7.7% over the past three years (grade of C) and 4.5% per year over the past five years (grade of D) and 5.4% per year over the past 10 years (grade of B).
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DBISX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| DBISX Return (NAV) | 0.7% | 0.4% | 11.2% | 7.7% | 4.5% | 5.4% |
| DBISX Grade | C | C | B | C | D | B |
| +/- Category | 0.3% | 0.7% | 2.9% | 1.2% | -0.4% | 0.6% |
| Macro Trading Avg | 0.3% | -0.2% | 8.3% | 6.5% | 4.9% | 4.8% |
| DBISX Tax Cost Ratio | na | na | 0.7% | 0.6% | 0.9% | 0.9% |
DBISX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| DBISX Return (NAV) | 3.7% | 14.6% | 3.2% | 8.9% | -7.1% | 6.1% | 2.0% | 12.3% | 0.2% | 13.3% | 5.7% |
| DBISX Grade | D | A | D | B | F | B | D | B | B | A | A |
| +/- Category | -1.7% | 8.0% | -3.2% | 4.5% | -11.5% | 3.3% | -2.5% | 3.3% | 0.7% | 6.7% | 6.5% |
| Macro Trading Avg | 5.4% | 6.6% | 6.5% | 4.4% | 4.4% | 2.8% | 4.4% | 8.9% | -0.5% | 6.7% | -0.8% |
| Risk Measures | |
| Standard Deviation: | 6.7% |
| Total Risk Index: | 0.55 - Below Average |
| Category Risk Index: | 1.00 - Above Average |
| Category Risk Grade: | D (61% Rank) |
| Beta: | 0.44 |
| R-Squared: | 67% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | 1.8% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $178 Mil |
| Fund Total Assets: | $ 31 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 12% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 9.2 years | |||
| Average Tenure: 9.2 years | |||
| Managers (Year): Potstada Henning (2017), Schmidt Christoph-Arend (2017), Flasdick Stefan (2017) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 76 |
| % in Top 10 Holdings: | 39.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 26.4% |
Portfolio Allocation |
|
| Domestic Stock: | 15.8% |
| Foreign Stock: | 23.8% |
| Preferred Stock: | 1.7% |
| Domestic Bond: | 33.9% |
| Foreign Bond: | 2.5% |
| Convertible Bond: | 0.0% |
| Other: | 10.8% |
| Cash: | 11.6% |
Purchase Information
| Fund Family: | DWS |
| Phone Number: | 800-728-3337 |
| Website: | www.dws-investments.com |
| Status: | Closed |
| Inception Date: | February 28, 2001 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 500 |
| True No-Load: | No |
| Front Load Maximum: | 5.75% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.24% |
Expenses and Fees | |
| Expense Ratio (%): | 1.12% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.59% |
| Share Class: | DWS Global Macro Inst |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 50 |
