Currency returns plus strategy

A unique option for actively managed currency exposure

Investment products: No bank guarantee I Not FDIC insured I May lose value

Important risk information

DWS Enhanced Emerging Markets Fixed Income Fund (Prior to 4/15/11, this fund was known as DWS Emerging Market Fixed ) Income Fund) Bond investments are subject to interest-rate and credit risks. When interest rates rise, bond prices generally fall. Credit risk refers to the ability of an issuer to make timely payments of principal and interest. Investments in lower-quality and non-rated securities present greater risk of loss than investments in higher-quality securities. The fund may use derivatives, including as part of its currency strategy. Investing in derivatives entails special risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility. The funds currency overlay strategy is dependent on the effectiveness and implementation of portfolio managements proprietary models. models As part of its currency strategy the funds exposure to foreign currencies could cause lower returns or even losses because strategy, fund s foreign currency rates may fluctuate significantly over short periods of time for a number of reasons. Investing in foreign securities, particularly those of emerging markets, presents certain risks, such as currency fluctuations, political and economic changes, and market risks. This fund is non-diversified and can take larger positions in fewer issues, increasing its potential risk. See the prospectus for details.

DWS Enhanced Global Bond Fund (Prior to 4/15/11, this fund was known as DWS Global Bond Fund) Bond investments are subject to interest-rate and credit risks. When interest rates rise, bond prices generally fall. Credit risk refers to the ability of an issuer to make timely payments of principal and interest. The fund may use derivatives, including as part of its currency strategy. Investing in derivatives entails special risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility. The funds currency overlay strategy is dependent on the effectiveness and implementation of portfolio managements proprietary models. A part of its currency strategy, the funds exposure to foreign currencies could cause lower returns or even l i t d l As t f it t t th f d t f i i ld l t losses because foreign currency rates may fluctuate significantly over short periods of time for a number of reasons. Investing in foreign securities, particularly those of emerging markets, presents certain risks, such as currency fluctuations, political and economic changes, and market risks. This fund is non-diversified and can take larger positions in fewer issues, increasing its potential risk. See the prospectus for details.

Investment products: No bank guarantee I Not FDIC insured I May lose value

A global leader in foreign exchange

Deutsche Bank has been a global leader in the creation of successful foreign exchange strategies, including the DBCR Plus Index. Index DWS Enhanced Emerging Market Fixed Income Fund and the DWS Enhanced Global Bond Fund leverage the quantitative methodology created by Deutsche Banks foreign exchange group. Deutsche Bank has been voted the worlds best foreign exchange (FX) house by the Euromoney foreign exchange poll for seven consecutive years. This is the most prestigious award in the foreign exchange industry.

Deutsche Bank foreign exchange industry awards

Euromoney
Foreign Exchange Poll Deutsche Bank has received this award seven consecutive years (Source: Euromoney, as of 5/4/11)

Global Finance 2011

Best Foreign Exchange BankGlobal (Source: Global Finance magazine magazine, as of 11/22/10)

Risk awards
2009 Currency Derivatives House of e ea the Year 2010 Derivatives House of the Year (Source: Risk magazine, as of 1/11)

*Source: Euromoney, as of 5/4/11.

Investment products: No bank guarantee I Not FDIC insured I May lose value

Currency returns plus strategy overview

A long/short rules-based strategy that offers a core approach to currency investing. By investing across a diversified pool of developed and emerging-market currencies, the strategy seeks to achieve a emerging market strong total return. For the five-year period ended 3/31/11, currencies have historically been uncorrelated to bonds (0.25) and equities (0.05), providing potential diversification benefits. Diversification does not assure a profit or guarantee against a loss.1 Strategy is constructed by equally weighting three trading strategiescarry, momentum and valuation tradesto exploit p potential dislocations across developed- and emerging-market currencies. (See slide 7 for details on each strategy.) p g g ( gy )
Carry Momentum Monthly Valuation Quarterly: March, June, September and December Rank each currency by its relative valuation as determined by the Organisation for Economic Cooperation and Development (OECD) purchasing power parity Three most undervalued currencies Three most overvalued currencies

Rebalance

Quarterly: March, June, September and December Rank each currency by threemonth interest rate Two G10 country and three highestyielding, emerging market currencies3 Two G10 country and lowest-yielding, emerging-market currencies

Rule

Rank each currency by the 12month spot return vs. the dollar2

Long Short
1Source:

Three highest spot returns Three lowest spot returns

Morningstar, as of 3/31/11. Past performance is historical and does not guarantee future results. Asset class represented as follows: Currencies, DBCP Plus Index; US stocks, S&P 500 Index; US bonds, Barclays Capital US Aggregate Index;. This data is for illustrative purposes and does not represent any DWS fund. It is not possible to invest directly in a category. Correlation refers to how securities perform in relation to one another. A 1.0 correlation indicates that two security types move in exactly the same direction. A 1 0 correlation indicates movement in exactly opposite directions A zero correlation implies no relation in the direction 1.0 directions. movements. Correlation over other time periods might not be as favorable. 2The spot return is the rate quoted for immediate settlement on a commodity, a security or a currency. 3The Group of Ten (G10) is made up of eleven industrial countries (Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, Switzerland, the United Kingdom and the United States) which consult and co-operate on economic, monetary and financial matters.
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Exposure to a broad group of developed- and emergingmarket currencies

Currency United States Europe Currency USD EUR JPY GBP CHF CAD SEK NOK AUD NZD KRW SGD TWD ZAR TRY PLN HUF CZK MXN BRL Carry Momentum Valuation

Developed currency c Em merging-market currency c

Japan United Kingdom Switzerland Canada Sweden Norway Australia New Zealand South Korea Singapore Taiwan South Africa Turkey Poland Hungary Czech Republic Mexico Brazil

St t Strategy designed to provide comprehensive exposure to d i dt id h i t developed- and emerging-market currencies. Currently, only the carry strategy utilizes emerging-market currencies.

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Currencies outpaced stocks and bonds over the long term

GROWTH OF $10,000 (12/31/973/31/11)

Returns 1Year 3Year(Annualized) 3 Year (Annualized) 5Year(Annualized) 10Year(Annualized)

Currencies 0.35% 5.12% 5 12% 5.17% 8.17%

Bonds 5.14% 5.30% 5 30% 6.03% 5.57%

Stocks 16.05% 2.47% 2 47% 2.70% 3.33%

Volatility 1Year 3Year(Annualized) 3Year (Annualized) 5Year(Annualized) 10Year(Annualized)

Currencies 3.03% 3.92% 3 92% 4.82% 5.34%

Bonds 2.57% 4.11% 4 11% 3.56% 3.78%

Stocks 17.23% 21.58% 21 58% 17.72% 15.91%

Source: Deutsche Asset Management, as of 3/31/11. Performance is historical and does not guarantee future results. Asset class representation is as follows: currencies, DBCR Plus Index , which tracks the long-term systematic returns available by investing in the worlds currency markets and replicates the three strategies carry, momentum and valuation most widely employed by the foreign exchange market; stocks S&P 500 Index which represents the US equity market; bonds carry valuationmost stocks, Index, bonds, Barclays Capital US Aggregate Index, which tracks domestic taxable investment-grade bonds with average maturities of one year or more. Index and category returns do not reflect fees or expenses. It is not possible to invest directly in an index or category. Performance for other time periods may not be as favorable. The value of equity investments are more volatile than other securities. Fixed-income investments are subject to interest-rate risk, and their value will decline as interest-rates rise. Foreign currency rates may fluctuate significantly over short periods of time for a number of reasons such as political and economic changes and market risks.
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Two options to access currency returns plus strategy

DWS Enhanced Emerging Markets Fixed Income Fund SHARE CLASS: A I SZEAX

DWS Enhanced Global Bond Fund SHARE CLASS: A I SZGAX

C I SZECX INST I SZEIX S I SCEMX

C I SZGCX S I SSTGX

The fund seeks to provide high current income and, secondarily, long-term capital appreciation by primarily investing in the debt of emerging-market countries. In addition to the funds main investment strategy of investing in global bonds, portfolio management seeks to enhance returns by bonds employing the currency returns plus strategy, which invests across both developed- and emerging-market currencies. Managed by a team of 11 senior portfolio managers with more than 18 years of experience on average.

The fund seeks total return, with an emphasis on current income; capital appreciation is a secondary goal by investing in bonds from issuers around the world, including the United States. In addition to the funds main investment strategy of investing in global bonds portfolio management seeks to enhance returns by bonds, employing the currency returns plus strategy, which invests across both developed- and emerging-market currencies. Managed by a team of 11 senior portfolio managers with more than 18 years of experience on average. Class S shares rated 4 stars by Morningstar.*

*Source: Morningstar. Ratings are historical and do not guarantee future results There were 214 214 166 and 112 funds in the World Bond Source: Morningstar results. 214, 214, category during the Overall, three-year, five-year and 10-year periods. Ratings are based on risk-adjusted performance. The Overall rating for a fund is a weighted average of the ratings for the time periods indicated. Ratings are 4 stars for 3-year, 4 stars for 5-year and 3 stars for the 10-year periods. Ratings of other share classes may vary.
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Important definitions

Carry: A strategy in which an investor sells a certain currency with a relatively low interest rate and uses the funds to purchase a different currency yielding a higher interest rate. A trader using this strategy attempts to capture the difference between the rates. Momentum: A strategy that seeks to generate returns by capturing trends in exchange-rate markets. The momentum methodology is based on the view that currencies will continue the momentum of their most recent yearly performance. performance Valuation: A strategy that seeks to generate returns by capturing the fair value differential between currencies. The valuation methodology is based on the view that currencies tend to move towards their fair value over time.

Investment products: No bank guarantee I Not FDIC insured I May lose value

Important information

OBTAIN A PROSPECTUS To obtain a summary prospectus, if available, or prospectus, download one from www.dwsinvestments.com, investments com talk to your financial representative or call (800) 621-1048 We advise you to 621-1048. carefully consider the products objectives, risks, charges and expenses before investing. The summary prospectus and prospectus contain this and other important information about the investment product. Please read the prospectus carefully before you invest. Investment products offered through DWS Investments Distributors, Inc Advisory services offered through Distributors Inc. Deutsche Investment Management Americas, Inc. DWS Investments is part of Deutsche Bank's Asset Management division and, within the US, represents the retail asset management activities of Deutsche Bank AG, Deutsche Bank Trust Company Americas, Deutsche Investment Management Americas Inc. and DWS Trust Company. DWS Investments Distributors, Inc. 222 South Riverside Plaza Chicago, IL 60606-5808 www.dws-investments.com inquiry.info@dws.com Tel (800) 621-1148

2011 DWS Investments Distributors, Inc. All rights reserved. (6/11) R-22589-1

Investment products: No bank guarantee I Not FDIC insured I May lose value