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 dividend-paying equity securities (mainly common stocks). Equity securities may also include preferred stocks, depository receipts and other securities with equity characteristics, such as convertible securities and warrants. 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 (while the number of companies under CROCI coverage will vary, as of December 31, 2025 approximately 850 companies were under CROCI coverage, including approximately 370 … 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 dividend-paying equity securities (mainly common stocks). Equity securities may also include preferred stocks, depository receipts and other securities with equity characteristics, such as convertible securities and warrants. 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 (while 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). Approximately 40 companies are identified from the selection universe for investment, though, at times, the number of stocks held may be higher or lower than 40 stocks at the discretion of portfolio management or as a result of corporate actions, mergers or other events. Although the fund can invest in stocks of any economic sector (which is comprised of two or more industries), at times it may emphasize one or more sectors and may invest more than 25% of total assets in a single sector. The fund may invest up to 20% of total assets in foreign securities. The fund intends to invest primarily in companies whose market capitalizations fall within the normal range of the S&P 500 Index. While the market capitalization range of the S&P 500 Index changes throughout the year, as of December 31, 2025, the market capitalization range of the S&P 500 Index was between $5.82 billion and $4.57 trillion. Management process. Portfolio management will select stocks that it believes offer economic value utilizing the CROCI strategy as the primary factor, among other factors, and will seek above average dividend yield. 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 (CROCI Economic P/E Ratio) which is comparable across markets, sectors and stocks. The CROCI Economic P/E 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 P/E Ratios, will outperform other companies. Portfolio Management employs a US-specific strategy seeking to select approximately the forty best value companies under CROCI coverage with additional screening on high dividend yield, dividend sustainability and price volatility. The fund is reviewed periodically (typically quarterly) and adjusted in accordance with the CROCI strategys rules (re-selecting approximately forty stocks that will make up the fund). Portfolio Management targets low valuation combined with higher dividends and excludes stocks with undesirable characteristics such as, for example, high financial leverage, low cash returns and high volatility. 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. Portfolio management actively manages portfolio changes in an attempt to reduce market impact and transaction costs and to manage the portfolio with tax efficiency in mind. 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. 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. Active trading. The fund may trade securities actively and this may lead to high portfolio turnover. Show less