- ISIN
- US25158W4033
- Issuer
- DWS
- Inception Date
- Nov 14, 1996
- Category
- Diversified Portfolio
- Min. Investment
- $2,500
- Distribution Policy
- Distributing
- Asset Class
- Multi-Asset
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
SPBAX Performance Chart
DWS Multi-Asset Conservative Allocation Fund (SPBAX) is up 3.8% since the beginning of the year. SPBAX is currently trading at $13 per share. Investors who bought $1,000 worth of SPBAX shares 5 years ago would now be looking at an investment worth $1,184.
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Returns By Period
DWS Multi-Asset Conservative Allocation Fund (SPBAX) has returned 3.82% so far this year and 11.09% over the past 12 months. Over the last ten years, SPBAX has returned 5.28% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
DWS Multi-Asset Conservative Allocation Fund
- 1D
- 0.54%
- 1M
- 0.92%
- YTD
- 3.82%
- 6M
- 3.83%
- 1Y
- 11.09%
- 3Y*
- 8.35%
- 5Y*
- 3.44%
- 10Y*
- 5.28%
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%
SPBAX Monthly Returns History
Based on dividend-adjusted daily data since Jan 2, 1997, SPBAX's average daily return is +0.02%, while the average monthly return is +0.40%. At this rate, an investment would double in approximately 14.5 years.
Historically, 63% of months were positive and 37% were negative. The best month was Oct 2011 with a return of +7.1%, while the worst month was Oct 2008 at -14.4%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 6 months.
On a daily basis, SPBAX closed higher 50% of trading days. The best single day was Oct 13, 2008 with a return of +6.7%, while the worst single day was Oct 15, 2008 at -5.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.57% | 1.08% | -3.04% | 2.62% | 1.63% | 0.00% | 3.82% | ||||||
| 2025 | 1.09% | 0.92% | -2.51% | 0.16% | 1.87% | 2.48% | 0.15% | 1.65% | 1.69% | 0.95% | 0.51% | 0.01% | 9.25% |
| 2024 | -0.31% | 0.79% | 2.16% | -3.15% | 3.10% | 0.81% | 2.38% | 1.65% | 1.63% | -2.71% | 2.48% | -2.19% | 6.57% |
| 2023 | 4.52% | -2.80% | 2.34% | 0.57% | -1.21% | 2.15% | 1.36% | -1.42% | -2.90% | -1.74% | 6.17% | 4.10% | 11.18% |
| 2022 | -3.34% | -1.80% | -0.20% | -5.25% | 0.39% | -4.87% | 4.36% | -2.92% | -6.23% | 2.00% | 5.29% | -2.40% | -14.64% |
| 2021 | -0.07% | 0.56% | 0.97% | 2.22% | 1.02% | 1.14% | 0.67% | 0.93% | -2.20% | 2.16% | -1.52% | 2.19% | 8.26% |
Benchmark Metrics
DWS Multi-Asset Conservative Allocation Fund has an annualized alpha of 0.06%, beta of 0.49, and R2 of 0.88 versus S&P 500 Index. Calculated based on daily prices since January 02, 1997.
- This fund participated in 64.08% of S&P 500 Index downside but only 52.56% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.49 indicates this fund moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 0.06%
- Beta
- 0.49
- R²
- 0.88
- Upside Capture
- 52.56%
- Downside Capture
- 64.08%
Expense Ratio
SPBAX has an expense ratio of 0.40%, placing it in the medium range.
Return for Risk
Risk / Return Rank
SPBAX ranks 59 for risk / return — on par with similar mutual funds. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for DWS Multi-Asset Conservative Allocation Fund (SPBAX) 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.
| SPBAX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.37 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.64 | 2.78 | -0.14 |
| Martin ratioReturn relative to average drawdown | 10.88 | 12.44 | -1.56 |
Dividends
Dividend History
DWS Multi-Asset Conservative Allocation Fund provided a 10.90% dividend yield over the last twelve months, with an annual payout of $1.43 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.43 | $1.34 | $0.69 | $0.54 | $0.29 | $1.08 | $0.64 | $0.31 | $0.23 | $0.24 | $0.25 | $0.41 |
Dividend yield | 10.90% | 10.51% | 5.39% | 4.26% | 2.46% | 7.53% | 4.50% | 2.23% | 1.90% | 1.84% | 2.05% | 3.48% |
Monthly Dividends
The table displays the monthly dividend distributions for DWS Multi-Asset Conservative Allocation 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 | $0.09 | $0.00 | $0.00 | $0.00 | $0.09 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $1.14 | $1.34 |
| 2024 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.44 | $0.69 |
| 2023 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.34 | $0.54 |
| 2022 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.07 | $0.29 |
| 2021 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.91 | $1.08 |
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 Multi-Asset Conservative Allocation 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 Multi-Asset Conservative Allocation Fund was 42.82%, occurring on Mar 9, 2009. Recovery took 888 trading sessions.
The current DWS Multi-Asset Conservative Allocation Fund drawdown is 0.15%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -42.82%Mar 2009 | 1y 4mo | 3y 6mo | 4y 10moNov 2007 - Sep 2012 |
Dot-com crash2000–2002 | -30.92%Oct 2002 | 2y 1mo | 2y 9mo | 4y 10moSep 2000 - Jul 2005 |
COVID crash2020 | -19.90%Mar 2020 | 29d | 5mo 11d | 6mo 10dFeb 2020 - Aug 2020 |
Bear market2022 | -19.71%Oct 2022 | 11mo 8d | 1y 9mo | 2y 8moNov 2021 - Jul 2024 |
1998 correction1998 | -16.55%Oct 1998 | 2mo 19d | 6mo 2d | 8mo 21dJul 1998 - Apr 1999 |
Drawdown Indicators
| SPBAX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.82% | -56.78% | +13.96% |
Max Drawdown (1Y)Largest decline over 1 year | -4.20% | -9.10% | +4.90% |
Max Drawdown (3Y)Largest decline over 3 years | -8.28% | -18.90% | +10.62% |
Max Drawdown (5Y)Largest decline over 5 years | -19.71% | -25.43% | +5.72% |
Max Drawdown (10Y)Largest decline over 10 years | -19.90% | -33.92% | +14.02% |
Current DrawdownCurrent decline from peak | -0.15% | -1.80% | +1.65% |
Average DrawdownAverage peak-to-trough decline | -6.43% | -10.71% | +4.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 2.03% | -1.01% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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