DBX ADVISORS LLC
Exhibit (h)(23)
DBX ADVISORS LLC
▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇
New York, New York 10022
December 18, 2020
▇▇. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, President and Chief Executive Officer
▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇
New York, New York 10022
Re: DBX ETF Trust (the “Trust”) – Xtrackers S&P 500 ESG ETF (the “Fund”)
Dear ▇▇. ▇▇▇▇▇▇▇:
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 0.10%. 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 Trust’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/ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ | By: /s/ ▇▇▇▇ ▇▇▇▇▇▇ |
| Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ | Name: ▇▇▇▇ ▇▇▇▇▇▇ |
| Title: President and Chief Executive Officer | Title: Chief Executive Officer |
| By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ | |
| Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ | |
| Title: Chief Operating Officer |