- ISIN
- US25156G5099
- CUSIP
- 25156G509
- Issuer
- DWS
- Inception Date
- May 14, 1995
- Category
- Tactical Allocation
- Min. Investment
- $1,000,000
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Value
Share Price Chart
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Performance
MGINX Performance Chart
DWS Global Macro Fund (MGINX) is up 3.5% since the beginning of the year. MGINX is currently trading at $12 per share. Investors who bought $1,000 worth of MGINX shares 5 years ago would now be looking at an investment worth $1,261.
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Returns By Period
DWS Global Macro Fund (MGINX) has returned 3.53% so far this year and 12.31% over the past 12 months. Over the last ten years, MGINX has returned 6.08% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
DWS Global Macro Fund
- 1D
- 0.52%
- 1M
- -0.09%
- YTD
- 3.53%
- 6M
- 3.51%
- 1Y
- 12.31%
- 3Y*
- 8.05%
- 5Y*
- 4.74%
- 10Y*
- 6.08%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
MGINX Monthly Returns History
Based on dividend-adjusted daily data since May 15, 1995, MGINX's average daily return is +0.04%, while the average monthly return is +0.74%. At this rate, an investment would double in approximately 7.8 years.
Historically, 61% of months were positive and 39% were negative. The best month was Feb 2000 with a return of +16.3%, while the worst month was Oct 2008 at -23.3%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 6 months.
On a daily basis, MGINX closed higher 50% of trading days. The best single day was Oct 13, 2008 with a return of +14.7%, while the worst single day was Oct 15, 2008 at -10.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 4.59% | 1.26% | -5.25% | 3.00% | 1.11% | -0.93% | 3.53% | ||||||
| 2025 | 2.68% | 0.58% | -0.58% | 1.55% | 1.05% | 1.85% | -0.46% | 1.68% | 2.79% | 1.17% | 1.07% | 0.51% | 14.73% |
| 2024 | 0.40% | -0.30% | 2.33% | -1.87% | 2.11% | 0.15% | 2.07% | 1.35% | 1.20% | -2.27% | 0.39% | -1.90% | 3.56% |
| 2023 | 4.16% | -1.54% | 2.51% | 0.72% | -0.82% | 0.53% | 1.44% | -1.22% | -1.95% | -1.37% | 3.97% | 2.61% | 9.15% |
| 2022 | -0.28% | -1.90% | -0.73% | -2.45% | 1.91% | -4.09% | 0.93% | -1.64% | -3.60% | 2.39% | 3.93% | -1.23% | -6.87% |
| 2021 | 0.40% | 0.89% | 2.68% | 1.25% | 0.76% | -0.52% | 0.38% | 1.04% | -2.04% | 0.86% | -1.99% | 2.59% | 6.36% |
Benchmark Metrics
DWS Global Macro Fund has an annualized alpha of 3.01%, beta of 0.60, and R2 of 0.44 versus S&P 500 Index. Calculated based on daily prices since May 15, 1995.
- This fund participated in 79.75% of S&P 500 Index downside but only 77.47% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.60 may look defensive, but with R2 of 0.44 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.44 means the benchmark explains less than half of this fund's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 3.01%
- Beta
- 0.60
- R²
- 0.44
- Upside Capture
- 77.47%
- Downside Capture
- 79.75%
Expense Ratio
MGINX has an expense ratio of 0.79%, placing it in the medium range.
Return for Risk
Risk / Return Rank
MGINX ranks 31 for risk / return — below 31% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for DWS Global Macro Fund (MGINX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MGINX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.37 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 2.78 | -1.04 |
| Martin ratioReturn relative to average drawdown | 6.34 | 12.44 | -6.10 |
Dividends
Dividend History
DWS Global Macro Fund provided a 2.18% dividend yield over the last twelve months, with an annual payout of $0.26 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.26 | $0.21 | $0.22 | $0.29 | $0.45 | $0.13 | $0.08 | $0.32 | $0.62 |
Dividend yield | 2.18% | 1.82% | 2.15% | 2.88% | 4.76% | 1.20% | 0.81% | 3.23% | 6.82% |
Monthly Dividends
The table displays the monthly dividend distributions for DWS Global Macro Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.00 | $0.05 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.09 | $0.21 |
| 2024 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.09 | $0.22 |
| 2023 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.02 | $0.29 |
| 2022 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.30 | $0.45 |
| 2021 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.05 | $0.13 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the DWS Global Macro Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the DWS Global Macro Fund was 63.39%, occurring on Mar 9, 2009. Recovery took 2050 trading sessions.
The current DWS Global Macro Fund drawdown is 2.24%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -63.39%Mar 2009 | 1y 4mo | 8y 1mo | 9y 6moNov 2007 - Apr 2017 |
2003 bear market2003 | -52.43%Mar 2003 | 3y 5d | 2y 7mo | 5y 8moMar 2000 - Nov 2005 |
1998 bear market1998 | -27.61%Oct 1998 | 2mo 19d | 2mo 15d | 5mo 4dJul 1998 - Dec 1998 |
2006 correction2006 | -19.69%Jun 2006 | 1mo 4d | 5mo 24d | 6mo 28dMay 2006 - Dec 2006 |
COVID crash2020 | -15.12%Mar 2020 | 1mo 9d | 8mo 20d | 9mo 29dFeb 2020 - Dec 2020 |
Drawdown Indicators
| MGINX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.39% | -56.78% | -6.61% |
Max Drawdown (1Y)Largest decline over 1 year | -7.01% | -9.10% | +2.09% |
Max Drawdown (3Y)Largest decline over 3 years | -7.01% | -18.90% | +11.89% |
Max Drawdown (5Y)Largest decline over 5 years | -12.16% | -25.43% | +13.27% |
Max Drawdown (10Y)Largest decline over 10 years | -15.12% | -33.92% | +18.80% |
Current DrawdownCurrent decline from peak | -2.24% | -1.80% | -0.44% |
Average DrawdownAverage peak-to-trough decline | -13.74% | -10.71% | -3.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.92% | 2.03% | -0.11% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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