Frequently asked questions about the DBX0AN
What is the DBX0AN?
The DBX0AN (ISIN: LU0290358497) is a money market ETF from Xtrackers (DWS). It tracks the €STR rate plus 8.5 basis points. The ETF is often used as an alternative to a classic Tagesgeld account.
Is the DBX0AN safe?
The DBX0AN is not covered by the statutory deposit insurance scheme. However, the securities held in the ETF are protected as Sondervermögen (segregated fund assets). This means: if the fund company, the bank or the broker becomes insolvent, creditors cannot access the fund's assets. More on this on our Safety and risk page.
What return does the DBX0AN offer?
The return follows the current €STR rate plus 8.5 basis points. The annual total expense ratio (TER) of 0.10% is deducted from this return.
How is the DBX0AN taxed?
Gains from the DBX0AN are subject to Abgeltungssteuer, Germany's flat-rate capital gains tax (25% + solidarity surcharge + church tax if applicable). There is no partial exemption (Teilfreistellung) for the DBX0AN, as it is not an equity fund. You can find detailed information on our tax page.
What does accumulating mean?
The DBX0AN is accumulating (thesaurierend). Income is not distributed but automatically reinvested in the fund, so the price rises steadily. There is also a distributing variant: the DBX0A2.
Can I set up a savings plan for the DBX0AN?
Yes. Many brokers offer free savings plans for the DBX0AN. You can find an overview of all brokers and costs on our savings plan page.
What is the spread of the DBX0AN?
The spread is between 0.006% and 0.014% during XETRA trading hours (Mon-Fri 9:00 - 17:30). Outside these hours the spread can be higher.
How long should I hold the DBX0AN at a minimum?
To cover the costs of the spread and order fees, the DBX0AN should be held for at least a few days. As a short-term investment for just one or two days, the DBX0AN does not make sense.
How quickly can I access my money?
The DBX0AN can be sold at any time during exchange trading hours. After selling, it takes one to three business days, depending on the broker, until the money is available in the settlement account.
What happens if interest rates fall?
If the €STR rate falls, the return of the DBX0AN falls too. The ETF's price does not drop because of this - it just rises more slowly. Only at very low or negative real interest rates can the price actually fall. With a Tagesgeld account the effect would be the same: the bank pays less interest.
What happens if interest rates fall to zero or below?
With an €STR at zero or below, the return of the DBX0AN can turn negative after deducting the TER (0.10%). The price would then decline slightly instead of rising. During the low-interest period before 2022 this was actually the case.
Where can I buy the DBX0AN?
The DBX0AN can be traded at practically all popular brokers in Germany and Austria. You can find an overview on our buying tips page.
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