EFTA01376859.pdf

Important Information Real Estate Investments — Such investments may be or become nonperforming after acquisition for a wide variety of reasons. Nonperforming real estate investments may require substantial workout negotiations and / a restructuring. Environmental liabilities may pose a risk such that the owner or operator of real property may become liable for the costs of removal or remediation of certain hazardous substances released on. about, under or in its property. Additionally, to the extent real estate investments are made in foreign countries, such countries may prove to be politically or economically unstable. Finally, exposure to fluctuations in currency exchange rates may affect the value of a real estate investment. Commodities— The risk of loss in trading commodities can be substantial. The price of commodities (e.g., raw industrial materials such as gold, copper and aluminum) may be subject to substantial fluctuations over short periods of time and may be affected by unpredicted international monetary and political policies. Valuations of commodities may be susceptible to such adverse global economic, political or regulatory developments. Prospective investors must independently assess the appropriateness of an investment in commodities in light of their own financial condition and objectives. Exchange Traded Funds - Ownership in an exchange traded fund does not provide investors with entitlements to the underlying security. Rather investors own a 'creation unit" in a portfolio of stocks, bonds, or other securities. ETFs are subject to market risk and will fluctuate in value based on movements in the underlying security. Investors should realize that redemption values of ETFs are based upon the market value at the time of order and not at the net asset value as is the case for mutual finds. Investments in ETFs are subject to commission charges and management fees. Deutsche Bank may have certain conflicts of interest in recommending investments in certain funds, including the fact that we may receive 12b.1 fees and other compensation from the funds and their investment advisors and that funds may execute transactions through Deutsche Bark Carefully consider a Fund's investment objectives, risk factors and charges and expenses before investing. This and other information can be found in the Funds prospectus. which may be obtained by calling 1.855-DBX•ETFS (1.855.329.3837). or by viewing or downloading a prospectus. Read the prospectus carefully before investing. Bonds are subject to interest rate nsk. When interest rates rise, bond prices fall; generally the longer a bond's maturity, the more sensitive it is to this nsk. Bonds may also be subject to call risk, which is the risk that the issuer will redeem the debt at its option, fully or partially, before the scheduled maturity date. The market value of debt instruments may fluctuate, and proceeds from sales prior to maturity may be more or less than the amount originally invested or the maturity value due to changes in market conditions or changes in the credit quality of the issuer. Bonds are subject to the credit risk of the issuer. This is the risk that the issuer might be unable to make interest and/or principal payments on a timely basis. Bonds are also subject to reinvestment risk, which is the risk that principal and/or interest payments from a given investment may be reinvested at a lower interest rate Tax Free Municipal bonds are subject to changes in price. call and availability. Under present law. these bonds provide exemption from federal tax and depending on your state of residence may be exempt from state and local tax. Income may be subject to the Alternative Minimum Tax. There are additional risks associated with International investing. High Yield Fixed Income - Investing in high yield bonds, which tend to be more volatile than investment grade fixed income sectrities, is speculative. These bonds are affected by interest rate changes and the creditworthiness of the issuers, and investing in high yield bonds poses additional credit risk, as well as greater risk of default. Fixed Income — The values of the fixed income instruments presented will fluctuate and may lose value, as bond values decline as interest rates rise. Certain bonds and fixed income instrtrnents presented may be callable. If called, the investor will experience a shorter maturity than anticipated. Bonds referenced herein are exposed to credit risk, or the risk that the bond will be downgraded. and inflation risk, or the risk that the rate of the bond's yield will not provide a positive return over the rate of inflation. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0073299 CONFIDENTIAL SDNY_GM_00219483 EFTA01376859