DWS Converts Xtrackers RVNU to Active Municipal Bond ETF

DWS converted the Xtrackers Municipal Infrastructure Revenue Bond ETF (NYSE: RVNU) to an actively managed fund on Aug. 4, 2026. The fund was renamed Xtrackers Municipal Infrastructure Revenue Bond Active ETF while retaining the RVNU ticker. It will continue to invest primarily in municipal infrastructure revenue bonds that finance transportation, recreation, utilities and industrial economic development projects; interest on those bonds is generally exempt from regular federal income tax.

The fund stopped tracking the Solactive Municipal Infrastructure Revenue Bond Index and moved to active management overseen by a municipal bond team with more than 45 years of combined experience. The fund will normally invest at least 80% of its assets in municipal infrastructure revenue bonds issued by U.S. municipalities and territories. Eligible securities typically rely on pledged revenue sources or pledged revenue streams combined with a general obligation pledge to meet principal and interest payments. RVNU remains listed on the New York Stock Exchange and carries a net/gross expense ratio of 0.15%.

DWS noted the active approach will allow managers to seek relative value across the municipal infrastructure sector, manage credit and duration risk, and adjust holdings as market conditions change. The firm added that municipal infrastructure revenue bonds often pay higher yields than many traditional municipal sectors and can offer attractive after-tax, risk-adjusted returns versus taxable credit because they are backed by dedicated cash flows from public services.

Hepsen Uzcan, Chief Executive Officer of DWS Americas, commented: “Xtrackers is committed to providing access to quality fixed income strategies. Our second active ETF builds on that commitment, offering investors another way to pursue income and diversification while responding to market opportunities.” George Catrambone, Head of Fixed Income and Xtrackers, Americas at DWS, described RVNU as “an addition to the active ETF lineup that could serve as a core bond allocation for investors seeking income and tax-efficient returns.” Matthew Caggiano, Co-Head of Municipal Bond Strategy at DWS, noted: “Municipal infrastructure revenue bonds have historically offered higher yields than many traditional municipal sectors, along with attractive after-tax, risk-adjusted returns relative to taxable credit.” Henry Wu, Head of Xtrackers Products U.S., added: “The Xtrackers platform provides investors with both high-quality and low-cost access to infrastructure revenue bonds.”

DWS stated it is the first asset manager to list an actively managed municipal infrastructure revenue bond ETF on a U.S. exchange. The change follows a broader industry trend of converting passive bond ETFs to active strategies as managers apply credit research and portfolio management to identify opportunities within niche municipal sectors.