XTRACKERS (IE) PLC (An umbrella fund with variable share capital and segregated liability between funds) Annual Report and Audited Financial Statements for the financial year ended 31 December 2019 XTRACKERS (IE) PLC CONTENTS Page General Information 2 Directors’ Report 14 Statement of Directors’ Responsibilities 22 Report of the Depositary to the Shareholders of Xtrackers (IE) plc 23 Independent Auditor’s Report to the Members of Xtrackers (IE) plc 24 Investment Manager's Report (Unaudited) 30 Portfolio of Investments Xtrackers EUR Credit 12.5 Swap UCITS ETF 36 Xtrackers Portfolio Income UCITS ETF 38 Xtrackers MSCI Nordic UCITS ETF 39 Xtrackers Germany Mittelstand & MidCap UCITS ETF 43 Xtrackers MSCI North America High Dividend Yield UCITS ETF 47 Xtrackers MSCI AC World UCITS ETF 53 Xtrackers MSCI USA UCITS ETF 86 Xtrackers S&P 500 Equal Weight UCITS ETF 100 Xtrackers MSCI World UCITS ETF 112 Xtrackers FTSE Developed Europe ex UK Real Estate UCITS ETF 144 Xtrackers MSCI World Minimum Volatility UCITS ETF 146 Xtrackers MSCI World Momentum UCITS ETF 155 Xtrackers MSCI World Quality UCITS ETF 164 Xtrackers MSCI World Value UCITS ETF 172 Xtrackers MSCI GCC Select Swap UCITS ETF 182 Xtrackers FTSE All-World ex UK UCITS ETF 185 Xtrackers S&P 500 UCITS ETF 216 Xtrackers Russell 2000 UCITS ETF 228 Xtrackers Russell Midcap UCITS ETF 265 Xtrackers JPX-Nikkei 400 UCITS ETF 282 Xtrackers USD Corporate Bond UCITS ETF 292 Xtrackers MSCI World Financials UCITS ETF 324 Xtrackers MSCI World Health Care UCITS ETF 330 Xtrackers MSCI World Consumer Staples UCITS ETF 334 Xtrackers MSCI World Energy UCITS ETF 337 Xtrackers MSCI World Information Technology UCITS ETF 340 Xtrackers MSCI World Consumer Discretionary UCITS ETF 344 Xtrackers MSCI World Industrials UCITS ETF 349 Xtrackers MSCI World Communication Services UCITS ETF 356 Xtrackers MSCI World Materials UCITS ETF 359 Xtrackers MSCI World Utilities UCITS ETF 362 Xtrackers USD Emerging Markets Bond Quality Weighted UCITS ETF 364 Xtrackers iBoxx EUR Corporate Bond Yield Plus UCITS ETF 370 Xtrackers MSCI EMU Minimum Volatility UCITS ETF 389 Xtrackers MSCI USA Minimum Volatility UCITS ETF 395 Xtrackers MSCI Emerging Markets UCITS ETF 401 Xtrackers MSCI USA Consumer Discretionary UCITS ETF 429 Xtrackers MSCI USA Consumer Staples UCITS ETF 432 Xtrackers MSCI USA Energy UCITS ETF 434 Xtrackers MSCI USA Financials UCITS ETF 435 Xtrackers MSCI USA Health Care UCITS ETF 438 Xtrackers MSCI USA Information Technology UCITS ETF 440 Xtrackers USD High Yield Corporate Bond UCITS ETF 443 Xtrackers iBoxx USD Corporate Bond Yield Plus UCITS ETF 454 XTRACKERS (IE) PLC CONTENTS CONT/D Page Portfolio of Investments cont/d Xtrackers MSCI World High Dividend Yield UCITS ETF 461 Xtrackers ESG MSCI Japan UCITS ETF 470 Xtrackers ESG MSCI World UCITS ETF 474 Xtrackers ESG MSCI Europe UCITS ETF 488 Xtrackers ESG MSCI USA UCITS ETF 494 Xtrackers MSCI USA Banks UCITS ETF 501 Xtrackers S&P Europe ex UK UCITS ETF 502 Xtrackers Artificial Intelligence and Big Data UCITS ETF 511 Xtrackers Future Mobility UCITS ETF 514 Xtrackers ESG MSCI Emerging Markets UCITS ETF 517 Statement of Financial Position 527 Statement of Comprehensive Income 551 Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares 575 Notes to the Financial Statements 599 Supplemental Data (Unaudited) 695 Appendix1–Remuneration Disclosures (Unaudited) 816 XTRACKERS (IE) PLC GENERAL INFORMATION Registered Office 78 Sir John Rogerson’s Quay Dublin 2 Ireland Registered number: 393802 Directors Michael Whelan (Irish) (Independent Non-Executive) Tom Murray (Irish) (Independent Non-Executive) Alex McKenna (British) (Non-Executive) Gerry Grimes (Irish) (Independent Non-Executive) Manooj Mistry (British) (Non-Executive) Audit Committee Members Michael Whelan Tom Murray Alex McKenna Management Company DWS Investment S.A. (renamed from Deutsche Asset Management S.A. on 1 January 2019) 2, Konrad Adenauer L-1115 Luxembourg Grand Duchy of Luxembourg Investment Managers DWS Investment GmbH Mainzer Landstraße 11-17 D-60329 Frankfurt am Main Germany DWS Investments UK Limited Winchester House 1 Great Winchester Street London EC2N 2DB United Kingdom Distributor DWS Investments UK Limited Winchester House 1 Great Winchester Street London EC2N 2DB United Kingdom Depositary State Street Custodial Services (Ireland) Limited 78 Sir John Rogerson’s Quay Dublin 2 Ireland 2 XTRACKERS (IE) PLC GENERAL INFORMATION CONT/D Administrator State Street Fund Services (Ireland) Limited 78 Sir John Rogerson’s Quay Dublin 2 Ireland Independent Auditor PricewaterhouseCoopers Chartered Accountants and Statutory Audit Firm One Spencer Dock North Wall Quay Dublin 1 Ireland Legal Advisers to the Company as to English Law Simmons & Simmons City Point 1 Ropemaker Street London EC2Y 9SS United Kingdom Legal Advisers to the Company as to Irish Law A&L Goodbody Solicitors International Financial Services Centre North Wall Quay Dublin 1 Ireland Secretary Goodbody Secretarial Limited International Financial Services Centre North Wall Quay Dublin 1 Ireland Securities Lending Agent Deutsche Bank AG, Frankfurt am Main head office Taunusanlage 12 60325 Frankfurt am Main Germany Deutsche Bank AG, London branch Winchester House 1 Great Winchester Street London EC2N 2DB United Kingdom Deutsche Bank AG, New York branch 60 Wall Street New York NY 10005 United States of America 3 XTRACKERS (IE) PLC GENERAL INFORMATION CONT/D The following information is derived from and should be read in conjunction with the full text and definitions section of the prospectus of Xtrackers (IE) plc (the “Prospectus”). Capitalised terms used herein shall have the same meaning as capitalised terms used in the Prospectus unless otherwise defined herein. Xtrackers (IE) plc (the “Company”) is an investment company with variable capital incorporated on 17 November 2004, authorised and regulated by the Central Bank of Ireland (the "Central Bank") under the European Communities (Undertakings for Collective Investments in Transferable Securities) Regulations 2011, as amended, and under the Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1) (Undertakings for Collective Investments in Transferable Securities) Regulations 2019 (together the "UCITS Regulations"). The Company is structured as an open-ended umbrella fund with segregated liability between the Funds. Shares representing interests in different Funds may be issued from time to time by the Directors without prior consent by the Central Bank. Shares of more than one class may be issued in relation to a Fund. All shares of each class will rank pari passu save as provided for in each relevant Supplement to the Prospectus. During the financial year the Company comprised of the following Funds: Launch Fund Currency Date Xtrackers EUR Credit 12.5 Swap UCITS ETF EUR 03/08/2010 Xtrackers Portfolio Income UCITS ETF EUR 04/02/2011 Xtrackers MSCI Nordic UCITS ETF EUR 04/09/2013 Xtrackers Germany Mittelstand & MidCap UCITS ETF EUR 09/01/2014 Xtrackers MSCI North America High Dividend Yield UCITS ETF USD 29/01/2014 Xtrackers MSCI AC World UCITS ETF EUR 10/02/2014 Xtrackers MSCI USA UCITS ETF USD 09/05/2014 Xtrackers S&P 500 Equal Weight UCITS ETF USD 10/06/2014 Xtrackers MSCI World UCITS ETF USD 22/07/2014 Xtrackers FTSE Developed Europe ex UK Real Estate UCITS ETF EUR 27/08/2014 Xtrackers MSCI World Minimum Volatility UCITS ETF USD 05/09/2014 Xtrackers MSCI World Momentum UCITS ETF USD 05/09/2014 Xtrackers MSCI World Quality UCITS ETF USD 11/09/2014 Xtrackers MSCI World Value UCITS ETF USD 11/09/2014 Xtrackers MSCI World Index Fund (terminated on 19 November 2019) EUR 21/10/2014 Xtrackers MSCI GCC Select Swap UCITS ETF USD 05/02/2015 Xtrackers FTSE All-World ex UK UCITS ETF GBP 27/02/2015 Xtrackers S&P 500 UCITS ETF USD 27/02/2015 Xtrackers Russell 2000 UCITS ETF USD 06/03/2015 Xtrackers Russell Midcap UCITS ETF USD 06/03/2015 Xtrackers JPX-Nikkei 400 UCITS ETF JPY 31/03/2015 Xtrackers FTSE 100 Equal Weight UCITS ETF (terminated on 11 October 2019) GBP 31/07/2015 Xtrackers USD Corporate Bond UCITS ETF USD 30/09/2015 Xtrackers Eurozone Government Bond Quality Weighted UCITS ETF (terminated on 11 October 2019) EUR 03/12/2015 Xtrackers MSCI World Financials UCITS ETF USD 04/03/2016 Xtrackers MSCI World Health Care UCITS ETF USD 04/03/2016 Xtrackers MSCI World Consumer Staples UCITS ETF USD 09/03/2016 Xtrackers MSCI World Energy UCITS ETF USD 09/03/2016 Xtrackers MSCI World Information Technology UCITS ETF USD 09/03/2016 Xtrackers MSCI World Consumer Discretionary UCITS ETF USD 14/03/2016 Xtrackers MSCI World Industrials UCITS ETF USD 14/03/2016 Xtrackers MSCI World Communication Services UCITS ETF USD 16/03/2016 Xtrackers MSCI World Materials UCITS ETF USD 16/03/2016 Xtrackers MSCI World Utilities UCITS ETF USD 16/03/2016 Xtrackers USD Emerging Markets Bond Quality Weighted UCITS ETF USD 06/04/2016 Xtrackers iBoxx EUR Corporate Bond Yield Plus UCITS ETF EUR 09/06/2016 Xtrackers MSCI EMU Minimum Volatility UCITS ETF EUR 08/11/2016 Xtrackers MSCI USA Minimum Volatility UCITS ETF USD 08/11/2016 Xtrackers MSCI Emerging Markets UCITS ETF USD 21/06/2017 Xtrackers MSCI USA Consumer Discretionary UCITS ETF USD 12/09/2017 4 XTRACKERS (IE) PLC GENERAL INFORMATION CONT/D Launch Fund Currency Date Xtrackers MSCI USA Consumer Staples UCITS ETF USD 12/09/2017 Xtrackers MSCI USA Energy UCITS ETF USD 12/09/2017 Xtrackers MSCI USA Financials UCITS ETF USD 12/09/2017 Xtrackers MSCI USA Health Care UCITS ETF USD 12/09/2017 Xtrackers MSCI USA Information Technology