DWS Group
DWS Group is a Frankfurt-listed asset manager (Deutsche Bank subsidiary) managing EUR 1.09 trillion in assets across active, passive (Xtrackers), and alternative strategies, serving European institutional investors, global retail via ETFs, and banking distribution partners.
- Company typePublic
- Founded2016
- HeadquartersFrankfurt, Germany
- Headcount1,001–5,000
- GTM typeB2B
- OfferingServices
What DWS Group does
DWS Group GmbH & Co. KGaA is a Frankfurt-headquartered, publicly listed asset manager (Frankfurt Stock Exchange ticker: DWS) and majority-owned subsidiary of Deutsche Bank AG, managing approximately EUR 1.09 trillion in assets under management as of Q1 2026. The firm operates three primary business pillars: an active and passive investment management platform built around the Xtrackers ETF brand (with 44+ U.S.-listed ETFs and listings across Deutsche Börse, LSE, and Nasdaq); an Alternatives unit spanning real estate debt, infrastructure, private credit, and asset-based finance; and a regional Americas business unit that operates the #3-ranked global taxable fixed income platform with USD 150 billion in U.S. Fixed Income AUM. Recent product launches have centered on thematic ETFs capturing European defense spending growth (Xtrackers Europe Defense Technologies ETF, XDEF) and the energy transition (Xtrackers Electrification Technologies & Smart Grid UCITS ETF).
DWS's revenue model is built on AUM-based management fees supplemented by performance fees on alternatives products, with revenue streams inherently recurring and tied to asset levels and market performance. The company reported FY2025 revenues of EUR 3.16 billion (up 14% year-over-year), net income of EUR 928 million (up 42%), a 58.0% cost-income ratio, and EUR 51 billion in net flows (doubled YoY). The go-to-market approach combines direct institutional sales targeting European pension funds, insurance companies, and sovereign wealth, distribution through Deutsche Bank's private banking and institutional advisory network (explicitly expanded in November 2025), white-label ETF infrastructure partnerships (PostFinance Global Portfolio ETF, launched June 2026), and direct retail access via Xtrackers on public exchanges.
Differentiating capabilities include its position as Germany's largest asset manager with deep Deutsche Bank integration, a diversified alternative investment book (including European infrastructure assets such as the Maaselänkangas wind farm and Cleanwatts energy communities), and a MiCAR-regulated stablecoin joint venture (AllUnity) targeting institutional digital asset infrastructure. The firm has signaled a strategic intent to capture secular European capital flows from pension reform, defense rearmament, and energy transition themes through both product innovation and the EUR 160 billion cumulative net flow target for 2026–2028.
DWS Group firmographics
Firmographics- Name
- DWS Group
- Legal name
- DWS Group GmbH & Co. KGaA
- Website
- https://dws.com
- Company type
- Public
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- DWS Group is a Frankfurt-listed asset manager (Deutsche Bank subsidiary) managing EUR 1.09 trillion in assets across active, passive (Xtrackers), and alternative strategies, serving European institutional investors, global retail via ETFs, and banking distribution partners.
- Ownership category
- akta.pro rank
DWS Group industry classification
Industry- Product category
- Asset Management
- NAICS
- Portfolio Management and Investment Advice (523940), Open-End Investment Funds (52591), Open-End Investment Funds (525910)
- SIC
- Investment Advice (6282), Finance Services (6199)
- akta.pro primary industry
- Discretionary Portfolio Management (DPM) (FSAAABAC)
- akta.pro secondary industry
- Real Assets Fund of Funds (Real Estate / Infrastructure / Natural Resources FoF) (FSAHAKAG)
Keywords
Where DWS Group is headquartered
LocationHeadquarters
- HQ city
- Frankfurt
- HQ country
- Germany
- HQ region
- Europe
Offices3 records
Markets served
DWS Group business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Asset Management Fees: DWS generates revenue primarily through management fees charged on assets under management (AUM) of approximately €1.09 trillion. Fees are based on AUM levels and vary by product type (active, passive, alternatives).
- Performance Fees: DWS earns performance fees on certain alternative investment products and structured funds when returns exceed specified benchmarks or hurdles.
- ETF and Fund Management: Revenue from managing Xtrackers ETFs and mutual funds, including fee reductions on select products demonstrating cost efficiency and competitive pricing in the asset management industry.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Americas Fixed Income and Alternatives Fee Reductions |
| Subscription | Annual | Xtrackers Europe Defense Technologies ETF (XDEF) |
| Subscription | Annual | Xtrackers S&P 100 Ex Top 20 ETF (XOEX) |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels4 records
DWS Group product offering
Product offeringCore offering
DWS Group is a German asset manager and majority-owned subsidiary of Deutsche Bank AG that offers active and passive investment solutions across equities, fixed income, ETFs, alternatives, infrastructure, and private credit, managing approximately €1.09 trillion in assets. Its flagship offering is the Xtrackers ETF platform (44+ ETFs listed globally on Deutsche Börse, LSE, and Nasdaq), complemented by closed-end funds, mutual funds, European infrastructure investment strategies, asset-based finance, and discretionary portfolio management services for institutional and retail investors.
Product overview
DWS Group is a German asset manager and subsidiary of Deutsche Bank offering a comprehensive suite of investment products including the Xtrackers ETF platform (over 44 U.S.-listed ETFs), closed-end funds (DWS Municipal Income Trust), and alternative investment strategies across infrastructure, real estate, and private credit. The company manages approximately EUR 1.09 trillion in assets under management, serving institutional and retail investors globally through its core Xtrackers ETF platform, Alternatives business unit, and regional operations across Americas, Europe, and Asia-Pacific.
Differentiator
Problem solved
Functional benefit
Products and services
- Xtrackers ETF Platform
Quantifiable outcome
- EPS growth of 40% to €4.64 in 2025, exceeding €4.50 target
- +3 more outcomes
Companies that use DWS Group
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles3 records
DWS Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
DWS Group partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and minor.
- PostFinancecorePostFinance and DWS launched the Postfinance Global Portfolio ETF, a multi-asset ETF bringing Swiss postal bank's strategic asset allocation expertise to retail investors for the first time. DWS provides ETF infrastructure through its Xtrackers platform, with both firms positioning the launch as a strategic growth area.
- Nippon Life India Asset ManagementcoreDWS signed agreements to acquire a 40% stake in Nippon Life India AIF Management Limited, establishing a strategic partnership to develop a leading alternative investments platform and expand product offerings to Indian and international investors. The JV aims to launch new products and expand coverage to offshore investors leveraging DWS's global distribution network.
- wpd GroupminorDWS acquired the Maaselänkangas onshore wind farm in Oulainen, Finland from wpd Group on behalf of its European infrastructure investment strategy. The 41.3 MW wind farm comprises seven Nordex turbines and represents the seventh acquisition under DWS's European Infrastructure Investment Strategy.
- Al Mirqab CapitalcoreDWS, Deutsche Bank, and Al Mirqab Capital launched a €1 billion German Opportunities Mandate focused on investments in Germany and Europe across sectors including energy, transportation, defense, education, telecommunications, technology, and innovation. The collaboration aims to deepen private capital investment opportunities in Germany.
- Deutsche BankcoreDeutsche Bank and DWS expanded their partnership in discretionary portfolio management (DPM), combining Deutsche Bank's private banking advisory model with DWS's institutional investment infrastructure to create additional value for clients. DWS CEO Stefan Hoops described the partnership expansion as a tangible example of value creation.
- AllUnitycoreAllUnity is a joint venture between DWS, Galaxy Digital, and Flow Traders that has launched multiple regulated stablecoins including EURAU (euro), CHFAU (Swiss franc), and SEKAU (Swedish krona) under the EU's MiCAR framework. AllUnity has secured BaFin E-Money Institution licensing and targets institutional payments, settlements, and treasury operations.
Scale indicators12 records
Recent moves7 records
Expansion highlights7 records
DWS Group competitors and assessment
Company assessmentBroad incumbents
- BlackRock: The world's largest asset manager with ~$10T+ AUM across iShares ETFs, active equities/fixed income, alternatives, and private markets. Directly comparable to DWS across passive (iShares vs. Xtrackers), institutional asset management, and the build-out of alternatives/private markets infrastructure.
Direct peers
- Amundi: Europe's largest asset manager (~€2T AUM) and a primary competitor for European institutional mandates, with strong ETF and passive offerings alongside active and alternatives. Closest direct peer to DWS given similar European institutional focus and product mix.
- Vanguard: Global leader in low-cost passive ETFs and mutual funds. Directly comparable to Xtrackers on passive scale and fee economics, and competes for retail and institutional ETF flows in Europe and globally.
- State Street Global Advisors: Major ETF issuer (SPDR) and institutional asset manager with comparable passive and institutional capabilities. Competes with Xtrackers in the global ETF landscape and with DWS for institutional mandates.
- Invesco: Global asset manager with a significant ETF platform (Invesco QQQ) plus active, fixed income, and alternatives. Comparable mix of passive and active offerings and competes with DWS across institutional and retail channels.
- Franklin Templeton: Global asset manager with diversified active ETFs, alternatives (Lexin Infrastructure), and strong European institutional presence. Comparable to DWS in product breadth and the push into alternatives and ETFs.
- UBS Asset Management: Swiss-based global asset manager with strong European institutional client base and growing alternatives franchise (Real Estate, Private Markets, Infrastructure). Direct peer to DWS given overlapping institutional and HNW channels.
- Allianz Global Investors: German-based global asset manager affiliated with Allianz Group, with active, fixed income, and ETF capabilities. Closest German peer to DWS given shared domestic institutional footprint and product mix.
- abrdn: UK-based global asset manager offering active equities, fixed income, alternatives, and wealth solutions. Comparable to DWS in serving European institutional and wealth distribution channels with multi-asset capabilities.
- Legal & General Investment Management (LGIM): Major European asset manager with large passive/index, active, and alternatives platforms, including L&G ETFs. Direct peer in the European institutional ETF and index space and competes with Xtrackers for UK/European mandates.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
DWS Group social profiles
Digital presenceDWS Group compliance and trust
Trust signalCompliance1 record
DWS Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
DWS Group leadership team
Management profileNumber of profiles
Profiles8 records
DWS Group subsidiaries and ownership
Company hierarchySubsidiaries2 records
DWS Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
DWS Group M&A and investment
M&A and investmentM&A3 records
Investments19 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about DWS Group
What does DWS Group do?
DWS Group is a German asset manager and majority-owned subsidiary of Deutsche Bank AG that offers active and passive investment solutions across equities, fixed income, ETFs, alternatives, infrastructure, and private credit, managing approximately €1.09 trillion in assets. Its flagship offering is the Xtrackers ETF platform (44+ ETFs listed globally on Deutsche Börse, LSE, and Nasdaq), complemented by closed-end funds, mutual funds, European infrastructure investment strategies, asset-based finance, and discretionary portfolio management services for institutional and retail investors.
Is DWS Group a public or private company?
DWS Group is a public company. It is classified as public and is currently operating.
When was DWS Group founded?
DWS Group was founded in 2016. It employs 1,001 to 5,000 people.
Where is DWS Group based?
DWS Group is headquartered in Frankfurt, Germany, in the Europe region.
How does DWS Group make money?
Three revenue lines are on record. Asset Management Fees are the primary driver. The others are performance Fees and ETF and Fund Management.
Who are DWS Group's main competitors?
BlackRock is listed as a broad incumbent. Direct peers are Amundi, Vanguard, State Street Global Advisors, Invesco, Franklin Templeton, UBS Asset Management, Allianz Global Investors, abrdn and Legal & General Investment Management (LGIM).
Does DWS Group have an API?
No public API is recorded for DWS Group.
What industry is DWS Group in?
DWS Group's product category is Asset Management. Its primary akta.pro industry code is FSAAABAC, Discretionary Portfolio Management (DPM), with a secondary code of FSAHAKAG, Real Assets Fund of Funds (Real Estate / Infrastructure / Natural Resources FoF). Its NAICS code is 523940 and its SIC code is 6282.