DBX ADVISORS LLC
Exhibit (h)(20)
DBX ADVISORS LLC
000 Xxxxx Xxxxxx
New York, New York 10022
December 18, 2020
Xx. Xxxxxx Xxxxxxx, President and Chief Executive Officer
000 Xxxxx Xxxxxx
New York, New York 10022
Re: DBX ETF Trust (the “Trust”) – Xtrackers Low Beta High Yield Bond ETF (the “Fund”)
Dear Xx. Xxxxxxx:
This letter confirms the agreement of DBX Advisors LLC (the “Adviser”) with the Trust to limit the Fund’s current Operating Expenses by waiving fees and/or reimbursing expenses or otherwise making a payment to the Fund, on a monthly basis, in an amount such that the Fund’s Operating Expenses do not exceed 0.20%. The term “Operating Expenses” with respect to the Fund, is defined to include all expenses necessary or appropriate for the operation of the Fund, including the Adviser’s investment advisory or management fee detailed in the Investment Advisory Agreement between the Trust and the Adviser (the “Advisory Agreement”) and other expenses described in the Advisory Agreement, but does not include interest expense, taxes, brokerage expenses, distribution fees or expenses, litigation expenses and other extraordinary expenses.
The Trust and the Adviser agree that the foregoing fee waiver and reimbursement for the Fund are effective from December 18, 2020 through December 17, 2021. The waiver may only be terminated by the Fund’s Board of Trustees (and not by the Adviser) prior to such date.
Your signature below acknowledges acceptance of this letter agreement.
| DBX ETF Trust | DBX Advisors LLC |
| By: /s/ Xxxxxx Xxxxxxx | By: /s/ Xxxx Xxxxxx |
| Name: Xxxxxx Xxxxxxx | Name: Xxxx Xxxxxx |
| Title: President and Chief Executive Officer | Title: Chief Executive Officer |
| By: /s/ Xxxxxx Xxxxxxx | |
| Name: Xxxxxx Xxxxxxx | |
| Title: Chief Operating Officer |
