Fund Evaluator:
DWS RREEF Global Infrastructure S (TOLSX)
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Best Performing in Infrastructure Over the Last Year
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Fund Details
DWS RREEF Global Infrastructure S Overview
DWS RREEF Global Infrastructure S (TOLSX) is an actively managed Sector Equity Infrastructure fund. DWS launched the fund in 2008.
The investment seeks total return from both capital appreciation and current income. The fund invests at least 80% of its net assets in the securities of U.S. and non-U.S. infrastructure-related companies. The adviser considers a company to be an infrastructure-related company if at least 50% of its non-cash assets are infrastructure assets or 50% of its gross income or net profits are derived, directly or indirectly, from the ownership, management, construction, operation, utilization or financing of infrastructure assets. The fund is non-diversified.
About DWS RREEF Global Infrastructure S (TOLSX)
There are 3 members of the management team with an average tenure of 17.16 years: Manoj Patel (2011), Francis Greywitt (2008), John Vojticek (2008). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: MSCI World NR USD index with a weighting of 100% and DJ Brookfld Global Infra TR USD index with a weighting of 100%. DWS RREEF Global Infrastructure S has 52 securities in its portfolio. The top 10 holdings constitute 48.1% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
DWS RREEF Global Infrastructure S is part of the Equity global asset class and is within the Sector Equity fund group. DWS RREEF Global Infrastructure S has 46.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 53.8%. There is 46.2% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). DWS RREEF Global Infrastructure S has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $76 million in total assets, which is below the $319 million average for the Infrastructure 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.
TOLSX 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 RREEF Global Infrastructure S expense ratio is high compared to funds in the Infrastructure category. DWS RREEF Global Infrastructure S has an expense ratio of 1.04%, which is 13% lower than its category average, making the fund expense ratio grade a C. 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 RREEF Global Infrastructure S has a portfolio turnover rate of 59%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 56% for the Infrastructure category.
Recently, in the month of July 2026, DWS RREEF Global Infrastructure S returned 0.1%, which earned it a grade of B, as the Infrastructure 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 RREEF Global Infrastructure S has a trailing yield of 1.88%, which is below the 1.93% 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 RREEF Global Infrastructure S Grades
Year to date, the fund has returned 8.9%, 1.4 percentage points worse than the category, which translates into a grade of D. The fund has returned 11.6% over the past year (grade of F), 11.3% over the past three years (grade of D) and 6.5% per year over the past five years (grade of F) and 6.3% per year over the past 10 years (grade of F).
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TOLSX 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 |
|
| TOLSX Return (NAV) | 0.1% | -3.4% | 11.6% | 11.3% | 6.5% | 6.3% |
| TOLSX Grade | B | D | F | D | F | F |
| +/- Category | 0.4% | -0.6% | -3.6% | -1.5% | -1.4% | -1.2% |
| Infrastructure Avg | -0.3% | -2.8% | 15.2% | 12.7% | 7.9% | 7.6% |
| TOLSX Tax Cost Ratio | na | na | 3.1% | 2.2% | 2.2% | 1.5% |
TOLSX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| TOLSX Return (NAV) | 8.9% | 12.6% | 12.0% | 1.8% | -7.8% | 20.3% | -2.1% | 29.2% | -11.1% | 13.5% | 8.3% |
| TOLSX Grade | D | F | B | F | D | A | C | A | F | D | C |
| +/- Category | -1.4% | -5.7% | 3.0% | -2.4% | -1.1% | 5.8% | -1.5% | 2.0% | -3.6% | -3.6% | -0.5% |
| Infrastructure Avg | 10.3% | 18.3% | 9.0% | 4.2% | -6.6% | 14.5% | -0.6% | 27.1% | -7.5% | 17.1% | 8.8% |
| Risk Measures | |
| Standard Deviation: | 13.5% |
| Total Risk Index: | 1.10 - Above Average |
| Category Risk Index: | 1.01 - Above Average |
| Category Risk Grade: | D (77% Rank) |
| Beta: | 0.50 |
| R-Squared: | 22% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Value |
| Bond Investment Style: | na |
| Yield: | 1.9% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $771 Mil |
| Fund Total Assets: | $ 76 Mil |
| Share Class Type: | S |
| Portfolio Turnover: | 59% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 18.1 years | |||
| Average Tenure: 17.2 years | |||
| Managers (Year): Greywitt Francis (2008), Vojticek John (2008), Patel Manoj (2011) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 52 |
| % in Top 10 Holdings: | 48.1% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 46.2% |
Portfolio Allocation |
|
| Domestic Stock: | 53.8% |
| Foreign Stock: | 46.2% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.0% |
Purchase Information
| Fund Family: | DWS |
| Phone Number: | 800-728-3337 |
| Website: | www.dws-investments.com |
| Status: | Open |
| Inception Date: | June 24, 2008 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 1.04% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.19% |
| Share Class: | DWS RREEF Global Infrastructure Inst |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 50 |
