DBAW was the first global ex-US ETF to hedge all currency exposure of its underlying securities relative to the USD. DBAW captures the international market well, though compared to the index it tilts to large-caps and has minimal exposure to small/micro caps. The fund is 100% hedged to USD by selling each foreign currency forward at the one-month forward rate and may also use non-deliverable forward contracts to execute its hedging transactions. DBAW may utilize a full replication indexing strategy or a representative sampling indexing strategy in order to track the Underlying Index.
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