AAAAX

The fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in a combination of investments that the Advisor believes offer exposure to "real assets." It generally invests between 25% and 75% of fund assets in securities of foreign issuers, including up to 10% of fund assets in issuers located in countries with new or emerging markets.

AAAZX

Under normal circumstances, the adviser intends to invest at least 80% of assets, determined at the time of purchase, in stocks of companies included in the S&P 500 Index and in derivative instruments, such as futures contracts and options, that provide exposure to the stocks of companies in the index.

BTIIX

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.

DBPIX

The investment seeks long-term growth of capital. The fund invests at least 80% of net assets, plus the amount of any borrowings for investment purposes, in common stocks issued by U.S. companies. Companies are selected for the fund's portfolio using the Cash Return on Capital Invested (CROCI) strategy as the primary factor, among other factors. Portfolio management will select stocks from among the largest U.S. companies which are under CROCI coverage at any given time. The fund may lend securities to approved institutions.

DCUIX

Under normal circumstances, the fund invests at least 80% of net assets, plus the amount of any borrowings for investment purposes, in equities, mainly common stocks, which meet the Advisor's sustainability criteria at the time of investment. Although it can invest in companies of any size and from any country, the fund invests primarily in large U.S. companies.

DESGX

Under normal market conditions, the fund invests at least 80% of its total assets in adjustable rate loans that have a senior right to payment ("senior loans") and other floating rate debt securities. It may also borrow money in an amount up to 33 1-3% of the fund's total assets for a range of purposes, including to create investment leverage. Senior loans typically are of below investment-grade quality and, compared to investment grade loans, may pay higher yields and have higher volatility and higher risk of default on payments of interest or principal.

DFRTX

The fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in foreign equities, mainly common stocks. Although the fund can invest in companies of any size and from any country, it invests primarily in stocks in the MSCI EAFE Index. In choosing stocks, portfolio management uses a proprietary ESG issuer rating in addition to proprietary quantitative models to identify and acquire holdings for the fund.

DURIX

The investment seeks a high level of current income that is exempt from California state and federal income taxes. The fund invests at least 80% of net assets, plus the amount of any borrowings for investment purposes, in securities whose income is free from regular federal and California state income tax. Normally, at least 80% of the fund's municipal securities are rated in the four highest credit rating categories.

KCTAX

The investment seeks a high rate of total return. Under normal circumstances, the fund invests at least 80% of net assets, plus the amount of any borrowings for investment purposes, in dividend-paying equity securities (mainly common stocks). Equity securities may also include preferred stocks, depository receipts and other securities with equity characteristics, such as convertible securities and warrants. Although it can invest in stocks of any economic sector (which is comprised of two or more industries), at times the fund may emphasize one or more sectors and may invest more than 25% of total assets in a single sector.

KDHAX

The fund generally invests at least 65% of net assets, plus the amount of any borrowings for investment purposes, in junk bonds. It may invest up to 50% of total assets in bonds denominated in U.S. dollars or foreign currencies from foreign issuers, including issuers in emerging markets.

KHYAX

The investment seeks a high level of current income that is exempt from New York State and New York City personal income taxes and federal income taxes. The fund invests at least 80% of net assets, plus the amount of any borrowings for investment purposes, in municipal securities whose income is free from regular federal and New York State personal income tax. It invests at least 65% of net assets in municipal securities and other securities that are exempt from New York City personal income taxes. The fund may invest up to 20% of net assets in securities whose income is subject to the federal AMT. It is non-diversified.

KNTAX

Under normal circumstances, the fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in common stocks of science and technology companies. It may invest in companies of any size and may invest in initial public offerings. While the fund invests mainly in U.S. stocks, it could invest up to 35% of net assets in foreign securities (including emerging markets securities). The fund will concentrate its assets in the group of industries constituting the technology sector and may concentrate in one or more industries in the technology sector. It is non-diversified.

KTCAX

The investment seeks to maximize income while maintaining prospects for capital appreciation. The fund can invest in securities of any size, investment style category, maturity, duration or credit quality including high-yield debt securities, and from any country (including emerging markets). It will generally invest in at least three different countries and will normally have investment exposure to foreign securities, foreign currencies and other foreign investments equal to at least 40% of the fund's net assets. The fund invests at least 25% of net assets in fixed income senior securities.

KTRAX

The fund invests at least 65% of total assets in domestic and foreign below investment grade debt securities. It generally invests in at least three different countries and will normally invest at least 40% of net assets in securities of foreign issuers. The fund invests in securities of varying maturities and the advisor intends to maintain a dollar-weighted effective average portfolio maturity (the weighted average of the maturity dates of bonds held by the fund) that will not exceed ten years.

MGHYX

The fund invests in equities (common and preferred), bonds, structured notes, money market instruments, exchange traded funds (ETFs), and cash. There are no limits on asset class exposures, provided that risk parameters are met. It may also invest in alternative asset classes (such as real estate, REITs, infrastructure, convertibles, commodities and currencies). The fund may also invest in asset backed securities, short-term securities and cash equivalents.

MGINX

Under normal market conditions, the fund invests at least 80% of its assets, determined at the time of purchase, in municipal securities that pay interest exempt from regular federal income tax. It invests primarily in investment grade municipal securities (securities within the top four credit rating categories) and up to 20% of total assets in the fourth highest credit rating category or, if unrated, determined by the Advisor to be of similar quality.

MGSMX

The investment seeks to maximize total return. The fund seeks to achieve its objective by investing in a broad range of both traditional asset classes (such as equity and fixed income investments) and alternative asset classes (such as real estate, infrastructure, convertibles, commodities, currencies and absolute return strategies). It invests between 50% and 70% of assets in equity securities, including investments in underlying funds that invest primarily in equity securities, and between 30% and 50% of assets in fixed income securities, including investments in underlying funds that invest primarily in fixed income securities.

PLUSX

The fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in equity and debt securities issued by real estate companies, such as real estate investment trusts (REITs), REIT-like structures or real estate operating companies. It may invest without limitation in securities of companies engaged principally in the real estate industry. The fund may also invest a portion of its assets in other types of securities.

RRGIX

The fund will invest at least 80% of its net assets, plus the amount of any borrowing for investment purposes (calculated at the time of any investment), in equity securities of real estate investment trusts (REITs) and real estate companies. It may also invest a portion of its assets in other types of securities. These securities may include short-term securities, bonds, notes, securities of companies not principally engaged in the real estate industry and other similar securities.

Symbol	Full Name	Category	Inception	Expense Ratio	YTD Return	10Y Return (Annualized)	Dividend Yield
AAAAX	DWS RREEF Real Assets Fund - Class A	Diversified Portfolio	Jul 30, 2007	1.22%	-1.76%	3.69%	2.12%
AAAZX	DWS RREEF Real Assets Fund	Global Allocation	Jul 29, 2007	0.90%	-1.78%	4.01%	2.45%
BTIIX	DWS Equity 500 Index Fund	Large Cap Blend Equities	Dec 31, 1992	0.20%	5.44%	13.26%	24.85%
DBPIX	DWS Short Duration Fund	Short-Term Bond	Dec 23, 1998	0.50%	0.31%	2.49%	6.80%
DCUIX	DWS CROCI U.S. Fund	Large Cap Value Equities	Apr 10, 2015	0.67%	5.31%	—	1.56%
DESGX	DWS ESG Core Equity Fund	Large Cap Blend Equities	Jul 31, 2005	0.64%	5.22%	10.55%	2.66%
DFRTX	DWS Floating Rate Fund	Bank Loan	Jun 28, 2007	0.78%	2.25%	2.75%	8.59%
DURIX	DWS ESG International Core Equity Fund	Foreign Large Cap Equities	Nov 11, 2014	1.01%	-0.15%	—	4.00%
KCTAX	DWS California Tax	Municipal Bonds	Feb 16, 1983	0.76%	-1.05%	2.12%	3.54%
KDHAX	DWS CROCI Equity Dividend Fd	Large Cap Value Equities	Mar 18, 1988	1.01%	4.47%	7.76%	5.72%
KHYAX	DWS High Income Fund	High Yield Bonds	Jan 26, 1978	0.94%	-0.33%	3.65%	5.97%
KNTAX	DWS New York Tax	Municipal Bonds	Dec 30, 1985	0.79%	-1.30%	2.19%	3.30%
KTCAX	DWS Science and Technology Fund	Technology Equities	Sep 6, 1948	0.89%	13.44%	14.77%	10.34%
KTRAX	DWS Global Income Builder Fund	Global Allocation	Mar 1, 1964	0.89%	0.62%	4.42%	3.11%
MGHYX	DWS Global High Income Fund	High Yield Bonds	Mar 16, 1998	0.60%	-0.63%	5.22%	9.21%
MGINX	DWS Global Macro Fund	Tactical Allocation	May 14, 1995	0.79%	0.01%	3.99%	1.79%
MGSMX	DWS Short Term Municipal Bond Fund	Municipal Bonds	Mar 5, 1995	0.44%	0.01%	1.42%	3.26%
PLUSX	DWS Multi-Asset Moderate Allocation Fund	Diversified Portfolio	Oct 31, 2004	0.60%	0.32%	3.92%	5.76%
RRGIX	DWS RREEF Global Real Estate Securities Fund	REIT	Jul 2, 2006	0.88%	-7.56%	3.63%	1.50%
RRRRX	DWS RREEF Real Estate Securities Fund	REIT	Dec 1, 1999	0.61%	-9.23%	6.28%	2.34%

DWS Mutual Funds List

Risk vs. Return Scatterplot