Xtrackers converts EASG from an ESG screen to a 0.03% developed-ex-US tracker

Holders of Xtrackers MSCI EAFE Selection Equity ETF —DMXU were not asked to vote. A July supplement said the fund's investment objective and 80% policies are not fundamental and may be changed by the Board without shareholder approval, subject to 60 days' notice. It described the old MSCI EAFE Selection Index as an ESG screen of developed markets excluding the United States and Canada, and said the Bloomberg index does not take ESG factors into account.

DBX ETF Trust filed a Rule 497K summary prospectus dated Monday, September 14, that treats the new name, index, and fee as in effect. The series is now Xtrackers Bloomberg Developed Markets ex US Equity ETF —DMXU, listed on NYSE Arca, and seeks investment results that correspond generally to the performance, before fees and expenses, of the Bloomberg Developed Markets ex US Core Markets Index. Friday's last regular session still printed under the old ticker, at $38.74.

The unitary management fee is 0.03% of average daily net assets, with other expenses listed as none. A footnote says that rate is restated to reflect the new fee effective September 14. The series had been running at 0.14%. It held $67.9 million as of September 13. Vanguard's developed-markets ETF VEA charges the same 0.03% on $315 billion of assets; Schwab's international equity ETF SCHF charges 0.03% on $69.3 billion. DBX Advisors LLC remains the adviser.

The new index is a free-float, market-cap-weighted benchmark of large- and mid-capitalization stocks in developed markets outside the United States and in South Korea, seeking to cover the top 85% of those markets' capitalization. The old EAFE Selection index excluded Canada and did not cover South Korea. The summary prospectus states the index change in the past tense, effective September 14, and warns that results before that date reflect the old strategy.

A holder of the old ESG mandate now owns a plain developed-ex-US equity tracker at 0.03%.