DWS RREEF Real Assets Fund
Actively managed global stock fund
As of its 2026 Q2 report, DWS RREEF Real Assets Fund held 178 positions with $4.64B in net assets. Its ten largest holdings made up 24.2% of the fund. The AAAAX share class costs 1.14% a year. Over the 12 months to May 2026, AAAAX returned 17.3%, with dividends reinvested. In 2026 Q2 it added 56 new positions and exited 72.
The fund seeks total return in excess of inflation through capital growth and current income.
The fund seeks total return above inflation by allocating across real assets sectors—listed real estate, commodities, natural resource equities, listed infrastructure, gold, master limited partnerships, and Treasury Inflation-Protected Securities—using top-down macro views to set sector weights and bottom-up analysis to select individual securities within each sector. Commodity exposure is obtained partly through a wholly-owned Cayman Islands subsidiary that invests mainly in commodity-linked futures contracts and fixed income instruments. The fund may hold up to 25% of assets in the subsidiary and invests 15% to 75% of assets in foreign securities. Because sector allocations are adjusted on an ongoing basis according to portfolio management's macro views, actual holdings will diverge from any fixed benchmark.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
DWS | 4.32% | $200.43M | — | — |
2.74% | $127.35M | 1.7M | $74.34 | |
PLDPrologis Inc | 2.58% | $119.74M | 883.9K | $135.47 |
United States Treasury | 2.18% | $101.21M | — | — |
United States Treasury | 2.17% | $100.90M | — | — |
United States Treasury | 2.14% | $99.21M | — | — |
WELLWelltower Inc | 2.13% | $98.95M | 436.0K | $226.97 |
EQIXEquinix Inc | 2.04% | $94.63M | 90.8K | $1,042.39 |
1.96% | $90.97M | 556.2K | $163.57 | |
TRPTC Energy Corp | 1.95% | $90.62M | 1.4M | $66.22 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
All 178 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 80.18% |
| Cash & short-term | 16.68% |
| Bonds | 5.99% |
| Derivatives | -1.07% |
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Derivatives are shown at market value, not notional exposure.
By sector
- International
- 32.5%
- Real Estate
- 22.0%
- Cash
- 16.2%
- Energy
- 10.2%
- 6 other sectors
- 19.2%
- International
- 32.5%
- Real Estate
- 22.0%
- Cash
- 16.2%
- Energy
- 10.2%
- Utilities
- 7.5%
- Government
- 5.8%
- Materials
- 3.5%
- Industrials
- 2.1%
- Consumer Staples
- 0.3%
- Other
- 0.0%
How it has done
AAAAX share class · total returns with dividends reinvested
Volatility over the last 12 months: 11.46%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 6 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 1.14% | +17.27% | +40.95% | +29.49% | -8.41% | |
| 1.89% | +16.43% | +37.77% | +24.67% | -8.57% | |
| 0.99% | +17.53% | +41.53% | +30.45% | -8.31% | |
| 0.90% | +17.67% | +42.20% | +31.44% | -8.30% | |
| 1.39% | +17.00% | +39.77% | +27.71% | -8.45% | |
| 0.89% | +17.65% | +42.22% | +31.46% | -8.37% |
These classes hold the same portfolio, so the 6.78pp spread over 5 years is the cost difference between them — roughly 1.36pp a year — not a difference in what they own.
Fees & fund details
DWS RREEF Real Assets Fund is an actively managed global equity fund.
- Asset class
- Equity
- Region
- Global
- Management
- Actively managed
- Fund type
- Open-end fund
- Expense ratio, by class
- 0.89% – 1.89%· AAAAX 1.14%
- Portfolio turnover
- 73.00% a year · as of 2025 Q3
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
56 new· the largest 5
72 exited· the largest 2
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 100.0% |
Share of the fund's debt value in each maturity band, shortest first.
| 1-3y | 34.9% |
| 3-5y | 23.5% |
| 5-10y | 41.5% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Understand how this fund fits with the rest.
Explore shared holdings, compare funds and follow their businesses with your connected AI:
- “Where do my funds overlap — AAAAX, QQQ and the fund in my 401(k)?”
- “How do this fund’s ten biggest holdings stack up against each other?”
- “For my target-date fund, what’s the real stock-and-bond mix once you look through it?”