Fund Evaluator:
DWS Short Duration A (PPIAX)
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Fund Details
DWS Short Duration A Overview
DWS Short Duration A (PPIAX) is an actively managed Taxable Bond Short-Term Bond fund. DWS launched the fund in 2002.
The investment seeks to provide high income and also seeks to maintain a high degree of stability of shareholders' capital. The fund invests at least 65% of its total assets in fixed income securities rated, at the time of purchase, within the top four credit rating categories by a nationally recognized statistical rating organization (a "NRSRO"). It may invest in securities of varying maturities.
About DWS Short Duration A (PPIAX)
There are 4 members of the management team with an average tenure of 5.81 years: Thomas Sweeney (2017), Jeff Morton (2017), Sarah Rowin (2023), Bryan Dziuban (2024). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and Bloomberg US Govt/Credit 1-3 Yr TR USD index with a weighting of 100%. DWS Short Duration A has 574 securities in its portfolio. The top 10 holdings constitute 11.7% 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 Short Duration A is part of the Fixed Income global asset class and is within the Taxable Bond fund group. DWS Short Duration A has 19.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.2% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 98.3% (79.3% domestic bond, 19.0% foreign bond and 0.0% convertible bond). DWS Short Duration A has 1.5% of the portfolio in cash.
Assets Under Management
The fund has $159 million in total assets, which is below the $893 million average for the Short-Term Bond 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.
PPIAX 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 Short Duration A expense ratio is average compared to funds in the Short-Term Bond category. DWS Short Duration A has an expense ratio of 0.59%, which is 11% 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 Short Duration A has a portfolio turnover rate of 133%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 134% for the Short-Term Bond category.
Recently, in the month of June 2026, DWS Short Duration A returned 0.1%, which earned it a grade of C, as the Short-Term Bond category had an average return of 0.1%. 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 Short Duration A has a trailing yield of 4.48%, which is above the 4.15% category average. The fund normally distributes its income monthly 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 Short Duration A Grades
Year to date, the fund has returned 1.0%, 0.1 percentage points better than the category, which translates into a grade of B. The fund has returned 3.7% over the past year (grade of B), 5.5% over the past three years (grade of B) and 2.7% per year over the past five years (grade of B) and 2.7% per year over the past 10 years (grade of B).
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PPIAX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| PPIAX Return (NAV) | 0.1% | 1.0% | 3.7% | 5.5% | 2.7% | 2.7% |
| PPIAX Grade | C | A | B | B | B | B |
| +/- Category | 0.0% | 0.3% | 0.1% | 0.3% | 0.4% | 0.4% |
| Short-Term Bond Avg | 0.1% | 0.8% | 3.5% | 5.2% | 2.3% | 2.3% |
| PPIAX Tax Cost Ratio | na | na | 1.8% | 1.8% | 1.5% | 1.3% |
PPIAX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PPIAX Return (NAV) | 1.0% | 6.2% | 5.3% | 6.1% | -4.4% | 0.4% | 4.4% | 5.4% | 0.6% | 2.2% | 1.9% |
| PPIAX Grade | B | B | B | B | B | B | B | B | D | B | C |
| +/- Category | 0.1% | 0.4% | 0.3% | 0.5% | 0.6% | 0.4% | 0.1% | 0.6% | -0.2% | 0.4% | -0.6% |
| Short-Term Bond Avg | 0.9% | 5.9% | 4.9% | 5.6% | -5.0% | -0.0% | 4.2% | 4.8% | 0.7% | 1.8% | 2.5% |
| Risk Measures | |
| Standard Deviation: | 2.0% |
| Total Risk Index: | 0.17 - Low |
| Category Risk Index: | 1.03 - Above Average |
| Category Risk Grade: | D (69% Rank) |
| Beta: | 0.33 |
| R-Squared: | 84% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Blend |
| Bond Investment Style: | na Limited Sensitivity |
| Yield: | 4.5% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1177 Mil |
| Fund Total Assets: | $ 160 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 133% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 8.9 years | |||
| Average Tenure: 5.8 years | |||
| Managers (Year): Sweeney Thomas (2017), Morton Jeff (2017), Rowin Sarah (2023), Dziuban Bryan (2024) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 574 |
| % in Top 10 Holdings: | 11.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 19.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.2% |
| Domestic Bond: | 79.3% |
| Foreign Bond: | 19.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.5% |
Purchase Information
| Fund Family: | DWS |
| Phone Number: | 800-728-3337 |
| Website: | www.dws-investments.com |
| Status: | Open |
| Inception Date: | December 2, 2002 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 500 |
| True No-Load: | No |
| Front Load Maximum: | 2.25% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 0.59% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 0.66% |
| Share Class: | DWS Short Duration S |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 50 |
