Strategy. Main investments. Under normal circumstances, the fund invests at least 80% of net assets, plus the amount of any borrowings for investment purposes, in common stocks issued by US companies. Companies are selected for the funds portfolio using the Cash Return on Capital Invested (CROCI ) strategy as the primary factor, among other factors. Portfolio management will select stocks from among the largest US companies which are under CROCI coverage at any given time (the number of companies under CROCI coverage will vary; as of December 31, 2025, approximately 850 companies were under CROCI coverage, including approximately 370 US companies). Companies are identified from the selection universe for investment and are selected from the following economic sectors classified in accordance … Show more… Main investments. Under normal circumstances, the fund invests at least 80% of net assets, plus the amount of any borrowings for investment purposes, in common stocks issued by US companies. Companies are selected for the funds portfolio using the Cash Return on Capital Invested (CROCI ) strategy as the primary factor, among other factors. Portfolio management will select stocks from among the largest US companies which are under CROCI coverage at any given time (the number of companies under CROCI coverage will vary; as of December 31, 2025, approximately 850 companies were under CROCI coverage, including approximately 370 US companies). Companies are identified from the selection universe for investment and are selected from the following economic sectors classified in accordance with the Global Industry Classification Standard (GICS): Consumer Discretionary, Consumer Staples, Energy, Financials, Health Care, Information Technology, Industrials, Materials, Communication Services and Utilities. Management process. Portfolio management selects stocks of companies that it believes offer economic value, utilizing the CROCI strategy as the primary factor, among other factors. The CROCI strategy is an investment process based on a proprietary valuation technique that attempts to understand the value of a company by converting financial statement data into a set of economic inputs that are used to calculate a valuation metric called the CROCI Economic Price Earnings Ratio which is comparable across markets, sectors and stocks. The CROCI Economic Price Earnings Ratio seeks to measure the real economic value rather than the accounting value of a companys invested capital, and the economic returns thereof. Portfolio management believes that, over time, companies with more favorable financial metrics, including CROCI Economic Price Earnings Ratios, will outperform other companies. In selecting stocks, portfolio management measures economic value using the CROCI Economic Price Earnings Ratio and may adjust this by factors such as stock price volatility, as determined by the CROCI Investment Strategy and Valuation Group. The CROCI Investment Strategy and Valuation Group may provide other CROCI valuation metrics which portfolio management may use in addition to the CROCI Economic Price Earnings Ratio. All CROCI financial metrics may be adjusted from time to time. Portfolio management may also use factors other than the CROCI strategy in selecting investments. The funds portfolio is reviewed periodically and adjusted in accordance with the CROCI strategys rules. The CROCI strategy is supplied by the CROCI Investment Strategy and Valuation Group, a unit within DWS Group, through a licensing arrangement with the funds Advisor. Portfolio management will periodically review and adjust the funds portfolio in order to maintain the desired balance between return potential and various risk factors, such as, without limitation: style, size, and idiosyncratic risks. Portfolio management may refer to the output of various optimization tools and other portfolio construction techniques in order to help control for unwanted portfolio exposure to the risk factors specified above versus relevant indices, as well as undesired levels of portfolio turnover, tax efficiency, and other factors. CROCI Investment Process. The CROCI Investment Process is based on the belief that the data used in traditional valuations (i.e., accounting data) does not accurately appraise assets, reflect all liabilities or represent the real value of a company. This is because the accounting rules are not always designed specifically for investors and often utilize widely differing standards which can make measuring the real asset value of companies difficult. The CROCI Investment Process seeks to generate data that will enable valuation comparisons on a consistent basis, resulting in what portfolio management believes is an effective and efficient sector and stock selection process targeting investment in real value. This CROCI Investment Process takes into account financially material events which the CROCI Investment Strategy and Valuation Group believes may impact a companys valuation (and these may include macro and micro economic events, political and regulatory events or developments, and environmental, social or governance (ESG) considerations, among other factors). Securities lending. The fund may lend securities (up to one-third of total assets) to approved institutions, such as registered broker-dealers, pooled investment vehicles, banks and other financial institutions. In connection with such loans, the fund receives liquid collateral in an amount that is based on the type and value of the securities being lent, with riskier securities generally requiring higher levels of collateral. Show less