DWS Total Return Bond Fund
Class A : SZIAX
Semi-Annual Shareholder Report —July 31, 2024
What were the Fund costs for the last six months?
(Based on a hypothetical $10,000 investment)
Cost of a $10,000 investment |
Costs paid as a percentage of a $10,000 investment | |
|---|---|---|
Class A |
$ |
Gross expense ratio as of the latest prospectus: 1.03%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
Key Fund Statistics
Net Assets ($) |
|
Number of Portfolio Holdings |
|
Portfolio Turnover Rate (%) |
|
Total Net Advisory Fees Paid ($) |
|
Effective Duration |
6.2 years |
Effective duration is an approximate measure of the Fund’s sensitivity to interest rate changes taking into consideration any maturity shortening features.
What did the Fund invest in?
Holdings-based data is subject to change.
The quality ratings represent the higher of Moody’s Investors Service, Inc. (“Moody’s”), Fitch Ratings, Inc. (“Fitch”) or S&P Global Ratings (“S&P”) credit ratings. The ratings of Moody’s, Fitch and S&P represent their opinions as to the quality of the securities they rate. Credit quality measures a bond issuer’s ability to repay interest and principal in a timely manner. Ratings are relative and subjective and are not absolute standards of quality. Credit quality does not remove market risk and is subject to change.
Asset Allocation
Asset Type |
% of Net Assets |
Corporate Bonds |
|
Government & Agency Obligations |
|
Mortgage-Backed Securities Pass-Throughs |
|
Collateralized Mortgage Obligations |
|
Asset-Backed |
|
Commercial Mortgage-Backed Securities |
|
Short-Term U.S. Treasury Obligations |
|
Warrants |
|
Cash Equivalents and Other Assets and Liabilities, Net |
( |
Total |
100% |
Credit Quality
Credit Rating |
% of Net Assets |
AAA |
|
AA |
|
A |
|
BBB |
|
BB |
|
Not Rated |
|
Total |
102% |
Additional Information
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, Board fee evaluation reports, and financial statements and other information, please visit dws.com/mutualreports. For information about the Fund's proxy voting policies and procedures and how the Fund voted proxies related to its portfolio securities, please visit dws.com/en-us/resources/proxy-voting. This additional information is also available free of charge by contacting us at (800) 728-3337.
Householding
In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report and prospectus to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact your financial representative or call DWS toll free at (800) 728-3337.
The securities markets are volatile, and the market prices of the Fund’s securities may decline. If the market prices of the securities owned by the Fund fall, the value of your investment in the Fund will decline. Bond investments are subject to interest-rate, credit, liquidity, and market risks to varying degrees. When interest rates rise, bond prices generally fall. Credit risk refers to the ability of an issuer to make timely payments of principal and interest. Investments in lower-quality (“junk bonds”) and non-rated securities present greater risk of loss than investments in higher-quality securities. Investing in foreign securities presents certain risks, such as currency fluctuations, political and economic changes, and market risks. Emerging markets tend to be more volatile and less liquid than the markets of more mature economies, and generally have less diverse and less mature economic structures and less stable political systems than those of developed countries. Investing in derivatives entails special risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility. The Fund may lend securities to approved institutions. Please read the prospectus for details.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's objectives, risks, charges, and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (800) 728-3337, contacting your financial representative, or visit dws.com/mutualreports to view or download a prospectus. Please read the prospectus carefully before you invest.
The brand DWS represents DWS Group GmbH & Co. KGaA and any of its subsidiaries such as DWS Distributors, Inc., which offers investment products, or DWS Investment Management Americas, Inc. and RREEF America L.L.C., which offer advisory services.
©2024 DWS Group GmbH&Co. KGaA. All rights reserved
DTRBF-TSRS-A
R-102332-1 (09/24)
DWS Total Return Bond Fund
Class C : SZICX
Semi-Annual Shareholder Report —July 31, 2024
What were the Fund costs for the last six months?
(Based on a hypothetical $10,000 investment)
Cost of a $10,000 investment |
Costs paid as a percentage of a $10,000 investment | |
|---|---|---|
Class C |
$ |
Gross expense ratio as of the latest prospectus: 1.83%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
Key Fund Statistics
Net Assets ($) |
|
Number of Portfolio Holdings |
|
Portfolio Turnover Rate (%) |
|
Total Net Advisory Fees Paid ($) |
|
Effective Duration |
6.2 years |
Effective duration is an approximate measure of the Fund’s sensitivity to interest rate changes taking into consideration any maturity shortening features.
What did the Fund invest in?
Holdings-based data is subject to change.
The quality ratings represent the higher of Moody’s Investors Service, Inc. (“Moody’s”), Fitch Ratings, Inc. (“Fitch”) or S&P Global Ratings (“S&P”) credit ratings. The ratings of Moody’s, Fitch and S&P represent their opinions as to the quality of the securities they rate. Credit quality measures a bond issuer’s ability to repay interest and principal in a timely manner. Ratings are relative and subjective and are not absolute standards of quality. Credit quality does not remove market risk and is subject to change.
Asset Allocation
Asset Type |
% of Net Assets |
Corporate Bonds |
|
Government & Agency Obligations |
|
Mortgage-Backed Securities Pass-Throughs |
|
Collateralized Mortgage Obligations |
|
Asset-Backed |
|
Commercial Mortgage-Backed Securities |
|
Short-Term U.S. Treasury Obligations |
|
Warrants |
|
Cash Equivalents and Other Assets and Liabilities, Net |
( |
Total |
100% |
Credit Quality
Credit Rating |
% of Net Assets |
AAA |
|
AA |
|
A |
|
BBB |
|
BB |
|
Not Rated |
|
Total |
102% |
Additional Information
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, Board fee evaluation reports, and financial statements and other information, please visit dws.com/mutualreports. For information about the Fund's proxy voting policies and procedures and how the Fund voted proxies related to its portfolio securities, please visit dws.com/en-us/resources/proxy-voting. This additional information is also available free of charge by contacting us at (800) 728-3337.
Householding
In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report and prospectus to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact your financial representative or call DWS toll free at (800) 728-3337.
The securities markets are volatile, and the market prices of the Fund’s securities may decline. If the market prices of the securities owned by the Fund fall, the value of your investment in the Fund will decline. Bond investments are subject to interest-rate, credit, liquidity, and market risks to varying degrees. When interest rates rise, bond prices generally fall. Credit risk refers to the ability of an issuer to make timely payments of principal and interest. Investments in lower-quality (“junk bonds”) and non-rated securities present greater risk of loss than investments in higher-quality securities. Investing in foreign securities presents certain risks, such as currency fluctuations, political and economic changes, and market risks. Emerging markets tend to be more volatile and less liquid than the markets of more mature economies, and generally have less diverse and less mature economic structures and less stable political systems than those of developed countries. Investing in derivatives entails special risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility. The Fund may lend securities to approved institutions. Please read the prospectus for details.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's objectives, risks, charges, and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (800) 728-3337, contacting your financial representative, or visit dws.com/mutualreports to view or download a prospectus. Please read the prospectus carefully before you invest.
The brand DWS represents DWS Group GmbH & Co. KGaA and any of its subsidiaries such as DWS Distributors, Inc., which offers investment products, or DWS Investment Management Americas, Inc. and RREEF America L.L.C., which offer advisory services.
©2024 DWS Group GmbH&Co. KGaA. All rights reserved
DTRBF-TSRS-C
R-102332-1 (09/24)
DWS Total Return Bond Fund
Class S : SCSBX
Semi-Annual Shareholder Report —July 31, 2024
What were the Fund costs for the last six months?
(Based on a hypothetical $10,000 investment)
Cost of a $10,000 investment |
Costs paid as a percentage of a $10,000 investment | |
|---|---|---|
Class S |
$ |
Gross expense ratio as of the latest prospectus: 0.79%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
Key Fund Statistics
Net Assets ($) |
|
Number of Portfolio Holdings |
|
Portfolio Turnover Rate (%) |
|
Total Net Advisory Fees Paid ($) |
|
Effective Duration |
6.2 years |
Effective duration is an approximate measure of the Fund’s sensitivity to interest rate changes taking into consideration any maturity shortening features.
What did the Fund invest in?
Holdings-based data is subject to change.
The quality ratings represent the higher of Moody’s Investors Service, Inc. (“Moody’s”), Fitch Ratings, Inc. (“Fitch”) or S&P Global Ratings (“S&P”) credit ratings. The ratings of Moody’s, Fitch and S&P represent their opinions as to the quality of the securities they rate. Credit quality measures a bond issuer’s ability to repay interest and principal in a timely manner. Ratings are relative and subjective and are not absolute standards of quality. Credit quality does not remove market risk and is subject to change.
Asset Allocation
Asset Type |
% of Net Assets |
Corporate Bonds |
|
Government & Agency Obligations |
|
Mortgage-Backed Securities Pass-Throughs |
|
Collateralized Mortgage Obligations |
|
Asset-Backed |
|
Commercial Mortgage-Backed Securities |
|
Short-Term U.S. Treasury Obligations |
|
Warrants |
|
Cash Equivalents and Other Assets and Liabilities, Net |
( |
Total |
100% |
Credit Quality
Credit Rating |
% of Net Assets |
AAA |
|
AA |
|
A |
|
BBB |
|
BB |
|
Not Rated |
|
Total |
102% |
Additional Information
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, Board fee evaluation reports, and financial statements and other information, please visit dws.com/mutualreports. For information about the Fund's proxy voting policies and procedures and how the Fund voted proxies related to its portfolio securities, please visit dws.com/en-us/resources/proxy-voting. This additional information is also available free of charge by contacting us at (800) 728-3337.
Householding
In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report and prospectus to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact your financial representative or call DWS toll free at (800) 728-3337.
The securities markets are volatile, and the market prices of the Fund’s securities may decline. If the market prices of the securities owned by the Fund fall, the value of your investment in the Fund will decline. Bond investments are subject to interest-rate, credit, liquidity, and market risks to varying degrees. When interest rates rise, bond prices generally fall. Credit risk refers to the ability of an issuer to make timely payments of principal and interest. Investments in lower-quality (“junk bonds”) and non-rated securities present greater risk of loss than investments in higher-quality securities. Investing in foreign securities presents certain risks, such as currency fluctuations, political and economic changes, and market risks. Emerging markets tend to be more volatile and less liquid than the markets of more mature economies, and generally have less diverse and less mature economic structures and less stable political systems than those of developed countries. Investing in derivatives entails special risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility. The Fund may lend securities to approved institutions. Please read the prospectus for details.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's objectives, risks, charges, and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (800) 728-3337, contacting your financial representative, or visit dws.com/mutualreports to view or download a prospectus. Please read the prospectus carefully before you invest.
The brand DWS represents DWS Group GmbH & Co. KGaA and any of its subsidiaries such as DWS Distributors, Inc., which offers investment products, or DWS Investment Management Americas, Inc. and RREEF America L.L.C., which offer advisory services.
©2024 DWS Group GmbH&Co. KGaA. All rights reserved
DTRBF-TSRS-S
R-102332-1 (09/24)
DWS Total Return Bond Fund
Institutional Class : SZIIX
Semi-Annual Shareholder Report —July 31, 2024
What were the Fund costs for the last six months?
(Based on a hypothetical $10,000 investment)
Cost of a $10,000 investment |
Costs paid as a percentage of a $10,000 investment | |
|---|---|---|
Institutional Class |
$ |
Gross expense ratio as of the latest prospectus: 0.74%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
Key Fund Statistics
Net Assets ($) |
|
Number of Portfolio Holdings |
|
Portfolio Turnover Rate (%) |
|
Total Net Advisory Fees Paid ($) |
|
Effective Duration |
6.2 years |
Effective duration is an approximate measure of the Fund’s sensitivity to interest rate changes taking into consideration any maturity shortening features.
What did the Fund invest in?
Holdings-based data is subject to change.
The quality ratings represent the higher of Moody’s Investors Service, Inc. (“Moody’s”), Fitch Ratings, Inc. (“Fitch”) or S&P Global Ratings (“S&P”) credit ratings. The ratings of Moody’s, Fitch and S&P represent their opinions as to the quality of the securities they rate. Credit quality measures a bond issuer’s ability to repay interest and principal in a timely manner. Ratings are relative and subjective and are not absolute standards of quality. Credit quality does not remove market risk and is subject to change.
Asset Allocation
Asset Type |
% of Net Assets |
Corporate Bonds |
|
Government & Agency Obligations |
|
Mortgage-Backed Securities Pass-Throughs |
|
Collateralized Mortgage Obligations |
|
Asset-Backed |
|
Commercial Mortgage-Backed Securities |
|
Short-Term U.S. Treasury Obligations |
|
Warrants |
|
Cash Equivalents and Other Assets and Liabilities, Net |
( |
Total |
100% |
Credit Quality
Credit Rating |
% of Net Assets |
AAA |
|
AA |
|
A |
|
BBB |
|
BB |
|
Not Rated |
|
Total |
102% |
Additional Information
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, Board fee evaluation reports, and financial statements and other information, please visit dws.com/mutualreports. For information about the Fund's proxy voting policies and procedures and how the Fund voted proxies related to its portfolio securities, please visit dws.com/en-us/resources/proxy-voting. This additional information is also available free of charge by contacting us at (800) 728-3337.
Householding
In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report and prospectus to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact your financial representative or call DWS toll free at (800) 728-3337.
The securities markets are volatile, and the market prices of the Fund’s securities may decline. If the market prices of the securities owned by the Fund fall, the value of your investment in the Fund will decline. Bond investments are subject to interest-rate, credit, liquidity, and market risks to varying degrees. When interest rates rise, bond prices generally fall. Credit risk refers to the ability of an issuer to make timely payments of principal and interest. Investments in lower-quality (“junk bonds”) and non-rated securities present greater risk of loss than investments in higher-quality securities. Investing in foreign securities presents certain risks, such as currency fluctuations, political and economic changes, and market risks. Emerging markets tend to be more volatile and less liquid than the markets of more mature economies, and generally have less diverse and less mature economic structures and less stable political systems than those of developed countries. Investing in derivatives entails special risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility. The Fund may lend securities to approved institutions. Please read the prospectus for details.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's objectives, risks, charges, and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (800) 728-3337, contacting your financial representative, or visit dws.com/mutualreports to view or download a prospectus. Please read the prospectus carefully before you invest.