Xtrackers Portfolio Income UCITS ETF
Mixed Allocation · Global · Conservative Allocation
Figures refer to the share class ISIN IE00B3Y8D011, currency EUR, retail share class.
Key facts
- Management company
- DWS Investment S.A. (ETF)
- Asset class
- Mixed Allocation
- Geography
- Global
- Strategy
- Conservative Allocation
- Share class currency
- EUR
- Share class inception
- 04.02.2011
- Fund size
- 57 million (as at 14.09.2026)
- Management fee
- 0.45%
- Performance fee
- No
- Liquidity
- Not available in this publication
- UCITS
- Yes
- Risk grade (SRRI)
- Not available in this publication
- Registered in Switzerland
- Yes (qualified investors only)
Price history
Rebased to 100 at 30.09.2021.
Table view
| Period | From | Fund (100 at start) |
|---|---|---|
| 1Y | 03.10.2025 | 103.3 |
| 3Y | 31.10.2023 | 114.6 |
| 5Y | 30.09.2021 | 103.3 |
| Since 2011 | 18.03.2011 | 137.3 |
Exchange closing price of the ETF, not its NAV; distributions not reinvested.
In EUR, the currency of the share class shown.
Benchmark line not shown: price history held back: source clearance pending.
Fund history to 30.09.2026.
Past performance is not a reliable indicator of future results, and the value of investments can fall as well as rise.
Performance against the benchmark
| 1M | 3M | 6M | YTD | 2025 | 2024 | 2023 | 1Y | 3Y | 5Y | Volatility | Sharpe R. | Max DD | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FundISIN IE00B3Y8D011, currency EUR, retail share class | 0.58 | 0.36 | 2.86 | 4.64 | 3.78 | 8.04 | 8.04 | 7.18 | 6.65 | 2.36 | 4.59 | 0.83 | -3.20 |
| BenchmarkConservative EUR - 33% MSCI ACWI NR + 67% BarCap Global Aggr | 0.54 | 0.17 | 2.17 | 4.37 | 4.54 | 9.01 | 8.98 | 7.23 | 7.29 | 2.62 | 5.61 | 0.79 | -3.69 |
| Differencefund minus benchmark, in percentage points | 0.04 | 0.19 | 0.69 | 0.27 | -0.76 | -0.97 | -0.94 | -0.04 | -0.63 | -0.26 | – | – | – |
Within the list: OpenList — Active ETFs
Compared with the mixed allocation funds on OpenList — Active ETFs (6 funds), each in the share class and currency its list shows. Returns are in each share class's own currency and are not converted.
| This fund | Group median | Position | |
|---|---|---|---|
| Return 1Y | 7.18 | 13.77 | 5 of 6 |
| Return 3Y p.a. | 6.65 | 10.88 | 5 of 6 |
| 3Y p.a. over its own benchmark | -0.63 | 0.94 | 5 of 6 |
| Volatility 3Y | 4.59 | 6.31 | 1 of 6 |
| Sharpe ratio 3Y | 0.83 | 1.10 | 5 of 6 |
| Max drawdown 3Y | -3.20 | -5.45 | 1 of 6 |
| Management fee | 0.45% | 0.43% | 4 of 6 |
Position 1 is the highest value, except for volatility and the management fee, where 1 is the lowest; for max drawdown, 1 is the smallest fall.
Return against risk, 3 years
WSP report
Ask WSP which research is available for this fund and what it covers.
Enquire about WSP researchBack to the list: OpenList — Active ETFs
Performance: in %, in the currency of the share class shown. 3Y and 5Y are annualised. Volatility and Sharpe ratio are over three years; Max DD is the largest fall over three years.
Benchmark: each fund is measured against the index its own documents name. Where WSP measures a fund against a comparator of its own instead, the row names it: a tracker or a blend of the markets the fund invests in, or a cash-plus hurdle
– means not applicable. "Not available in this publication" means no value is shown here; it does not mean zero.
Period figures as of 31.08.2026.
This page is advertising within the meaning of the Swiss Financial Services Act. It is not an offer, a recommendation or investment advice. The prospectus and key information document for any fund shown may be obtained free of charge from its management company or Swiss representative
WSP commentary
Draft commentary, machine-generated from the fund's monthly factsheet dated 31.08.2026; key information document (PRIIPs), not yet reviewed by WSP.
Investment rationale
The fund is a multi-asset UCITS ETF designed to deliver a positive medium- to long-term investment outcome through a balanced and diversified portfolio made up mainly of equity, fixed-income and commodity ETFs, with a clear emphasis on fixed-income exposure. Its PRIIP summary gives it a risk indicator of 2 on a 1-7 scale and a recommended holding period of 3 years, which positions it as a lower-risk, medium-term allocation rather than a high-conviction tactical vehicle. The target investor is described as a retail investor with basic knowledge and experience who is willing to accept losses up to total loss of capital and has a medium-term horizon. Because the fund combines several asset classes in one vehicle, with equity capped at 15%-30%, fixed income at 60%-85% and commodities up to 10%, it can serve as a diversified portfolio building block with an income-oriented profile.
Investment strategy
The stated objective is to achieve a positive medium- to long-term investment performance, or positive investment result, through exposure to a balanced and diversified portfolio aimed at benefiting from both capital appreciation and income while limiting volatility. The fund is actively managed and is not managed with reference to a benchmark, although the Solactive Portfolio Income Strategy index is named in the index disclaimer. It invests primarily in ETFs issued by Xtrackers, Xtrackers (IE) plc and Xtrackers II, and may also at times hold transferable securities, money market instruments or other collective investment undertakings; the strategic allocation limits are 15%-30% in equity ETFs, 60%-85% in fixed-income ETFs and up to 10% in commodity ETFs. The share class currency and fund currency are both EUR, the fund uses physical direct replication, distributes income, and the PRIIP states that it distributes semi-annually. The recommended holding period is 3 years, and the fund may also enter into collateralised securities lending transactions to generate additional income.
Investment philosophy
• The fund is actively managed to build a balanced, diversified multi-asset portfolio with a total-return focus, seeking to capture capital gains and income from its holdings while limiting portfolio volatility.
• Its core investment universe consists mainly of ETFs issued by Xtrackers, Xtrackers (IE) plc and Xtrackers II, with the ability to add transferable securities, money market instruments or other collective investment schemes from time to time.
• Portfolio construction follows explicit allocation bands set at each quarterly asset-selection date: equity ETFs must be 15%-30% of assets, fixed-income ETFs 60%-85%, and commodity ETFs up to 10%.
• The composition is selected quarterly and also at other times at the investment manager's discretion; DWS Investments GmbH determines the composition and communicates it to DWS Investments UK Limited for day-to-day portfolio management.
• Current positioning is led by fixed-income ETFs, with the largest holdings including Xtrackers USD Corporate Bond Short Duration SRI PAB UCITS ETF 2C EUR Hedged (12.14%), Xtrackers II Eurozone Government Bond 1-3 UCITS ETF 1C (11.65%), and Xtrackers II EUR Corporate Bond Short Duration SRI PAB UCITS ETF 1C (10.68%), alongside equity exposures such as the S&P 500, MSCI USA, MSCI Europe and MSCI Emerging Markets ETFs.
The asset manager
The fund is a sub-fund of Xtrackers (IE) plc, with DWS Investment S.A. acting as management company; DWS Investment S.A. is identified as a member of the DWS Group and is based in Luxembourg. The fund manager is DWS Investments GmbH and the sub-portfolio manager is DWS Investments UK Limited. Xtrackers is described as the global platform for ETF and ETC solutions of DWS, having begun in 2007 with ETFs on major benchmark indices. As of 31 August 2026, Xtrackers had about EUR 348 billion of UCITS assets under management, around 300 products, and listings on eleven exchanges worldwide. The fund itself is domiciled in Ireland and its custodian is State Street Custodial Services (Ireland) Limited.
Strengths
A distinguishing feature is that the fund packages a predefined multi-asset allocation into a single actively managed UCITS ETF, with fixed income as the dominant exposure and tightly stated allocation ranges across equities, bonds and commodities. The portfolio is built mainly from Xtrackers ETFs, giving investors diversified access to several asset classes through one listed vehicle traded in EUR on Xetra and Borsa Italiana. The largest holdings show a bias toward shorter-duration and euro-area government and corporate bond exposures, including EUR-hedged US short-duration corporate bonds, which supports the fund's income-oriented and volatility-limiting design. The ongoing management fee is 0.65% per year, with no entry or exit costs charged by the fund according to the PRIIP cost section.
Risks
The PRIIP assigns the fund a summary risk indicator of 2 out of 7, categorising it as a low risk class, but the documents state clearly that the fund is not capital protected and investors can lose some or all of their invested capital. Because the portfolio invests heavily in bond ETFs, it is exposed to credit risk and interest-rate risk: bond issuers may fail to make interest or principal payments, and rising interest rates usually reduce bond values. The equity allocation adds market risk linked to market conditions, the economic environment, sectors, geographic regions and political events, while the fund's exposure to less developed countries through emerging markets adds higher risks from political unrest and economic downturns. Currency risk applies if investors subscribe or redeem in a currency different from the fund or share-class currency, and the PRIIP also highlights emerging markets risk, conflicts-of-interest risk, counterparty risk and risks associated with active funds. Securities lending is used to generate additional income, which introduces exposure to third parties, and the fund may also hold cash or other unsecured assets that could be affected by depositary or bank default scenarios.