07/02/2026 | Press release | Distributed by Public on 07/02/2026 12:41
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM N-CSRS
CERTIFIED SHAREHOLDER REPORT OF
REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-00642
Deutsche DWS International Fund, Inc.
(Exact Name of Registrant as Specified in Charter)
875 Third Avenue
New York, NY 10022-6225
(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, including Area Code: (212) 454-4500
Diane Kenneally
100 Summer Street
Boston, MA 02110
(Name and Address of Agent for Service)
| Date of fiscal year end: | 10/31 |
| Date of reporting period: | 4/30/2026 |
| Item 1. | Reports to Stockholders. |
| (a) |
This semi-annual shareholder report contains important information about DWS Emerging Markets Equity Fund (the "Fund") for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund on the Fund's website at dws.com/mutualreports. You can also request this information by contacting us at (800) 728-3337.
(Based on a hypothetical $10,000 investment)
|
Fund
|
Costs of a $10,000 investment
|
Costs paid as a percentage of a $10,000 investment
|
|
Class A
|
$63
|
1.16%Footnote Reference(a)
|
| Footnote | Description |
|
Footnote(a)
|
Annualized. |
Gross expense ratio as of the latest prospectus: 1.72%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
|
Net Assets ($)
|
73,112,985
|
|
Number of Portfolio Holdings
|
73
|
|
Portfolio Turnover Rate (%)
|
29
|
|
Total Net Advisory Fees Paid ($)
|
132,660
|
|
Asset Type
|
% of Net Assets
|
|
Equity Securities
|
100%
|
|
Cash Equivalents
|
1%
|
|
Exchange-Traded Funds
|
0%
|
|
Other Assets and Liabilities, Net
|
(1%)
|
|
Total
|
100%
|
|
Sector
|
% of Net Assets
|
|
Information Technology
|
34%
|
|
Financials
|
21%
|
|
Industrials
|
20%
|
|
Consumer Discretionary
|
10%
|
|
Communication Services
|
7%
|
|
Consumer Staples
|
4%
|
|
Materials
|
3%
|
|
Health Care
|
1%
|
|
Country
|
% of Net Assets
|
|
Korea
|
24%
|
|
Taiwan
|
22%
|
|
China
|
16%
|
|
Brazil
|
8%
|
|
India
|
7%
|
|
Hong Kong
|
6%
|
|
Turkey
|
5%
|
|
South Africa
|
3%
|
|
United Kingdom
|
2%
|
|
Netherlands
|
1%
|
|
Other
|
6%
|
|
Holdings
|
50.3% of Net Assets
|
|
Taiwan Semiconductor Manufacturing Co., Ltd. (Taiwan)
|
17.3%
|
|
SK Square Co., Ltd. (Korea)
|
6.0%
|
|
Tencent Holdings Ltd. (China)
|
4.6%
|
|
SK Hynix, Inc. (Korea)
|
4.5%
|
|
Astor Transformator Enerji Turizm Insaat Ve Petrol Sanayi Ticaret AS (Turkey)
|
4.1%
|
|
Samsung Electronics Co., Ltd. (Korea)
|
3.7%
|
|
Alibaba Group Holding Ltd. (Hong Kong)
|
2.9%
|
|
Contemporary Amperex Technology Co., Ltd. (China)
|
2.6%
|
|
Capitec Bank Holdings Ltd. (South Africa)
|
2.4%
|
|
Naura Technology Group Co., Ltd. (China)
|
2.2%
|
Holdings-based data is subject to change.
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, Board fee evaluation reports, and financial statements and other information, please visit dws.com/mutualreports. For information about the Fund's proxy voting policies and procedures and how the Fund voted proxies related to its portfolio securities, please visit dws.com/en-us/resources/proxy-voting. This additional information is also available free of charge by contacting us at (800) 728-3337.
In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report and prospectus to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact your financial representative or call DWS toll free at (800) 728-3337.
Stocks may decline in value. Investing in foreign securities presents certain risks, such as currency fluctuations, political and economic changes, and market risks. Emerging markets tend to be more volatile and less liquid than the markets of more mature economies, and generally have less diverse and less mature economic structures and less stable political systems than those of developed countries. The Fund may lend securities to approved institutions. Please read the prospectus for details.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's objectives, risks, charges, and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (800) 728-3337, contacting your financial representative, or visit dws.com/mutualreports to view or download a prospectus. Please read the prospectus carefully before you invest.
This semi-annual shareholder report contains important information about DWS Emerging Markets Equity Fund (the "Fund") for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund on the Fund's website at dws.com/mutualreports. You can also request this information by contacting us at (800) 728-3337.
(Based on a hypothetical $10,000 investment)
|
Fund
|
Costs of a $10,000 investment
|
Costs paid as a percentage of a $10,000 investment
|
|
Class C
|
$104
|
1.91%Footnote Reference(a)
|
| Footnote | Description |
|
Footnote(a)
|
Annualized. |
Gross expense ratio as of the latest prospectus: 2.43%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
|
Net Assets ($)
|
73,112,985
|
|
Number of Portfolio Holdings
|
73
|
|
Portfolio Turnover Rate (%)
|
29
|
|
Total Net Advisory Fees Paid ($)
|
132,660
|
|
Asset Type
|
% of Net Assets
|
|
Equity Securities
|
100%
|
|
Cash Equivalents
|
1%
|
|
Exchange-Traded Funds
|
0%
|
|
Other Assets and Liabilities, Net
|
(1%)
|
|
Total
|
100%
|
|
Sector
|
% of Net Assets
|
|
Information Technology
|
34%
|
|
Financials
|
21%
|
|
Industrials
|
20%
|
|
Consumer Discretionary
|
10%
|
|
Communication Services
|
7%
|
|
Consumer Staples
|
4%
|
|
Materials
|
3%
|
|
Health Care
|
1%
|
|
Country
|
% of Net Assets
|
|
Korea
|
24%
|
|
Taiwan
|
22%
|
|
China
|
16%
|
|
Brazil
|
8%
|
|
India
|
7%
|
|
Hong Kong
|
6%
|
|
Turkey
|
5%
|
|
South Africa
|
3%
|
|
United Kingdom
|
2%
|
|
Netherlands
|
1%
|
|
Other
|
6%
|
|
Holdings
|
50.3% of Net Assets
|
|
Taiwan Semiconductor Manufacturing Co., Ltd. (Taiwan)
|
17.3%
|
|
SK Square Co., Ltd. (Korea)
|
6.0%
|
|
Tencent Holdings Ltd. (China)
|
4.6%
|
|
SK Hynix, Inc. (Korea)
|
4.5%
|
|
Astor Transformator Enerji Turizm Insaat Ve Petrol Sanayi Ticaret AS (Turkey)
|
4.1%
|
|
Samsung Electronics Co., Ltd. (Korea)
|
3.7%
|
|
Alibaba Group Holding Ltd. (Hong Kong)
|
2.9%
|
|
Contemporary Amperex Technology Co., Ltd. (China)
|
2.6%
|
|
Capitec Bank Holdings Ltd. (South Africa)
|
2.4%
|
|
Naura Technology Group Co., Ltd. (China)
|
2.2%
|
Holdings-based data is subject to change.
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, Board fee evaluation reports, and financial statements and other information, please visit dws.com/mutualreports. For information about the Fund's proxy voting policies and procedures and how the Fund voted proxies related to its portfolio securities, please visit dws.com/en-us/resources/proxy-voting. This additional information is also available free of charge by contacting us at (800) 728-3337.
In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report and prospectus to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact your financial representative or call DWS toll free at (800) 728-3337.
Stocks may decline in value. Investing in foreign securities presents certain risks, such as currency fluctuations, political and economic changes, and market risks. Emerging markets tend to be more volatile and less liquid than the markets of more mature economies, and generally have less diverse and less mature economic structures and less stable political systems than those of developed countries. The Fund may lend securities to approved institutions. Please read the prospectus for details.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's objectives, risks, charges, and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (800) 728-3337, contacting your financial representative, or visit dws.com/mutualreports to view or download a prospectus. Please read the prospectus carefully before you invest.
This semi-annual shareholder report contains important information about DWS Emerging Markets Equity Fund (the "Fund") for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund on the Fund's website at dws.com/mutualreports. You can also request this information by contacting us at (800) 728-3337.
(Based on a hypothetical $10,000 investment)
|
Fund
|
Costs of a $10,000 investment
|
Costs paid as a percentage of a $10,000 investment
|
|
Class R6
|
$50
|
0.91%Footnote Reference(a)
|
| Footnote | Description |
|
Footnote(a)
|
Annualized. |
Gross expense ratio as of the latest prospectus: 1.29%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
|
Net Assets ($)
|
73,112,985
|
|
Number of Portfolio Holdings
|
73
|
|
Portfolio Turnover Rate (%)
|
29
|
|
Total Net Advisory Fees Paid ($)
|
132,660
|
|
Asset Type
|
% of Net Assets
|
|
Equity Securities
|
100%
|
|
Cash Equivalents
|
1%
|
|
Exchange-Traded Funds
|
0%
|
|
Other Assets and Liabilities, Net
|
(1%)
|
|
Total
|
100%
|
|
Sector
|
% of Net Assets
|
|
Information Technology
|
34%
|
|
Financials
|
21%
|
|
Industrials
|
20%
|
|
Consumer Discretionary
|
10%
|
|
Communication Services
|
7%
|
|
Consumer Staples
|
4%
|
|
Materials
|
3%
|
|
Health Care
|
1%
|
|
Country
|
% of Net Assets
|
|
Korea
|
24%
|
|
Taiwan
|
22%
|
|
China
|
16%
|
|
Brazil
|
8%
|
|
India
|
7%
|
|
Hong Kong
|
6%
|
|
Turkey
|
5%
|
|
South Africa
|
3%
|
|
United Kingdom
|
2%
|
|
Netherlands
|
1%
|
|
Other
|
6%
|
|
Holdings
|
50.3% of Net Assets
|
|
Taiwan Semiconductor Manufacturing Co., Ltd. (Taiwan)
|
17.3%
|
|
SK Square Co., Ltd. (Korea)
|
6.0%
|
|
Tencent Holdings Ltd. (China)
|
4.6%
|
|
SK Hynix, Inc. (Korea)
|
4.5%
|
|
Astor Transformator Enerji Turizm Insaat Ve Petrol Sanayi Ticaret AS (Turkey)
|
4.1%
|
|
Samsung Electronics Co., Ltd. (Korea)
|
3.7%
|
|
Alibaba Group Holding Ltd. (Hong Kong)
|
2.9%
|
|
Contemporary Amperex Technology Co., Ltd. (China)
|
2.6%
|
|
Capitec Bank Holdings Ltd. (South Africa)
|
2.4%
|
|
Naura Technology Group Co., Ltd. (China)
|
2.2%
|
Holdings-based data is subject to change.
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, Board fee evaluation reports, and financial statements and other information, please visit dws.com/mutualreports. For information about the Fund's proxy voting policies and procedures and how the Fund voted proxies related to its portfolio securities, please visit dws.com/en-us/resources/proxy-voting. This additional information is also available free of charge by contacting us at (800) 728-3337.
In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report and prospectus to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact your financial representative or call DWS toll free at (800) 728-3337.
Stocks may decline in value. Investing in foreign securities presents certain risks, such as currency fluctuations, political and economic changes, and market risks. Emerging markets tend to be more volatile and less liquid than the markets of more mature economies, and generally have less diverse and less mature economic structures and less stable political systems than those of developed countries. The Fund may lend securities to approved institutions. Please read the prospectus for details.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's objectives, risks, charges, and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (800) 728-3337, contacting your financial representative, or visit dws.com/mutualreports to view or download a prospectus. Please read the prospectus carefully before you invest.
This semi-annual shareholder report contains important information about DWS Emerging Markets Equity Fund (the "Fund") for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund on the Fund's website at dws.com/mutualreports. You can also request this information by contacting us at (800) 728-3337.
(Based on a hypothetical $10,000 investment)
|
Fund
|
Costs of a $10,000 investment
|
Costs paid as a percentage of a $10,000 investment
|
|
Class S
|
$54
|
0.99%Footnote Reference(a)
|
| Footnote | Description |
|
Footnote(a)
|
Annualized. |
Gross expense ratio as of the latest prospectus: 1.47%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
|
Net Assets ($)
|
73,112,985
|
|
Number of Portfolio Holdings
|
73
|
|
Portfolio Turnover Rate (%)
|
29
|
|
Total Net Advisory Fees Paid ($)
|
132,660
|
|
Asset Type
|
% of Net Assets
|
|
Equity Securities
|
100%
|
|
Cash Equivalents
|
1%
|
|
Exchange-Traded Funds
|
0%
|
|
Other Assets and Liabilities, Net
|
(1%)
|
|
Total
|
100%
|
|
Sector
|
% of Net Assets
|
|
Information Technology
|
34%
|
|
Financials
|
21%
|
|
Industrials
|
20%
|
|
Consumer Discretionary
|
10%
|
|
Communication Services
|
7%
|
|
Consumer Staples
|
4%
|
|
Materials
|
3%
|
|
Health Care
|
1%
|
|
Country
|
% of Net Assets
|
|
Korea
|
24%
|
|
Taiwan
|
22%
|
|
China
|
16%
|
|
Brazil
|
8%
|
|
India
|
7%
|
|
Hong Kong
|
6%
|
|
Turkey
|
5%
|
|
South Africa
|
3%
|
|
United Kingdom
|
2%
|
|
Netherlands
|
1%
|
|
Other
|
6%
|
|
Holdings
|
50.3% of Net Assets
|
|
Taiwan Semiconductor Manufacturing Co., Ltd. (Taiwan)
|
17.3%
|
|
SK Square Co., Ltd. (Korea)
|
6.0%
|
|
Tencent Holdings Ltd. (China)
|
4.6%
|
|
SK Hynix, Inc. (Korea)
|
4.5%
|
|
Astor Transformator Enerji Turizm Insaat Ve Petrol Sanayi Ticaret AS (Turkey)
|
4.1%
|
|
Samsung Electronics Co., Ltd. (Korea)
|
3.7%
|
|
Alibaba Group Holding Ltd. (Hong Kong)
|
2.9%
|
|
Contemporary Amperex Technology Co., Ltd. (China)
|
2.6%
|
|
Capitec Bank Holdings Ltd. (South Africa)
|
2.4%
|
|
Naura Technology Group Co., Ltd. (China)
|
2.2%
|
Holdings-based data is subject to change.
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, Board fee evaluation reports, and financial statements and other information, please visit dws.com/mutualreports. For information about the Fund's proxy voting policies and procedures and how the Fund voted proxies related to its portfolio securities, please visit dws.com/en-us/resources/proxy-voting. This additional information is also available free of charge by contacting us at (800) 728-3337.
In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report and prospectus to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact your financial representative or call DWS toll free at (800) 728-3337.
Stocks may decline in value. Investing in foreign securities presents certain risks, such as currency fluctuations, political and economic changes, and market risks. Emerging markets tend to be more volatile and less liquid than the markets of more mature economies, and generally have less diverse and less mature economic structures and less stable political systems than those of developed countries. The Fund may lend securities to approved institutions. Please read the prospectus for details.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's objectives, risks, charges, and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (800) 728-3337, contacting your financial representative, or visit dws.com/mutualreports to view or download a prospectus. Please read the prospectus carefully before you invest.
This semi-annual shareholder report contains important information about DWS Emerging Markets Equity Fund (the "Fund") for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund on the Fund's website at dws.com/mutualreports. You can also request this information by contacting us at (800) 728-3337.
(Based on a hypothetical $10,000 investment)
|
Fund
|
Costs of a $10,000 investment
|
Costs paid as a percentage of a $10,000 investment
|
|
Institutional Class
|
$50
|
0.91%Footnote Reference(a)
|
| Footnote | Description |
|
Footnote(a)
|
Annualized. |
Gross expense ratio as of the latest prospectus: 1.35%. See prospectus for any contractual or voluntary waivers; without a waiver, costs would have been higher.
|
Net Assets ($)
|
73,112,985
|
|
Number of Portfolio Holdings
|
73
|
|
Portfolio Turnover Rate (%)
|
29
|
|
Total Net Advisory Fees Paid ($)
|
132,660
|
|
Asset Type
|
% of Net Assets
|
|
Equity Securities
|
100%
|
|
Cash Equivalents
|
1%
|
|
Exchange-Traded Funds
|
0%
|
|
Other Assets and Liabilities, Net
|
(1%)
|
|
Total
|
100%
|
|
Sector
|
% of Net Assets
|
|
Information Technology
|
34%
|
|
Financials
|
21%
|
|
Industrials
|
20%
|
|
Consumer Discretionary
|
10%
|
|
Communication Services
|
7%
|
|
Consumer Staples
|
4%
|
|
Materials
|
3%
|
|
Health Care
|
1%
|
|
Country
|
% of Net Assets
|
|
Korea
|
24%
|
|
Taiwan
|
22%
|
|
China
|
16%
|
|
Brazil
|
8%
|
|
India
|
7%
|
|
Hong Kong
|
6%
|
|
Turkey
|
5%
|
|
South Africa
|
3%
|
|
United Kingdom
|
2%
|
|
Netherlands
|
1%
|
|
Other
|
6%
|
|
Holdings
|
50.3% of Net Assets
|
|
Taiwan Semiconductor Manufacturing Co., Ltd. (Taiwan)
|
17.3%
|
|
SK Square Co., Ltd. (Korea)
|
6.0%
|
|
Tencent Holdings Ltd. (China)
|
4.6%
|
|
SK Hynix, Inc. (Korea)
|
4.5%
|
|
Astor Transformator Enerji Turizm Insaat Ve Petrol Sanayi Ticaret AS (Turkey)
|
4.1%
|
|
Samsung Electronics Co., Ltd. (Korea)
|
3.7%
|
|
Alibaba Group Holding Ltd. (Hong Kong)
|
2.9%
|
|
Contemporary Amperex Technology Co., Ltd. (China)
|
2.6%
|
|
Capitec Bank Holdings Ltd. (South Africa)
|
2.4%
|
|
Naura Technology Group Co., Ltd. (China)
|
2.2%
|
Holdings-based data is subject to change.
If you wish to view additional information about the Fund, including, but not limited to, its prospectus, quarterly holdings, Board fee evaluation reports, and financial statements and other information, please visit dws.com/mutualreports. For information about the Fund's proxy voting policies and procedures and how the Fund voted proxies related to its portfolio securities, please visit dws.com/en-us/resources/proxy-voting. This additional information is also available free of charge by contacting us at (800) 728-3337.
In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report and prospectus to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact your financial representative or call DWS toll free at (800) 728-3337.
Stocks may decline in value. Investing in foreign securities presents certain risks, such as currency fluctuations, political and economic changes, and market risks. Emerging markets tend to be more volatile and less liquid than the markets of more mature economies, and generally have less diverse and less mature economic structures and less stable political systems than those of developed countries. The Fund may lend securities to approved institutions. Please read the prospectus for details.
This report must be preceded or accompanied by a prospectus. We advise you to consider the Fund's objectives, risks, charges, and expenses carefully before investing. The prospectus contains this and other important information about the Fund, which can be requested by calling (800) 728-3337, contacting your financial representative, or visit dws.com/mutualreports to view or download a prospectus. Please read the prospectus carefully before you invest.
| (b) Not applicable | |
| Item 2. | Code of Ethics. |
| Not applicable | |
| Item 3. | Audit Committee Financial Expert. |
| Not applicable | |
| Item 4. | Principal Accountant Fees and Services. |
| Not applicable | |
| Item 5. | Audit Committee of Listed Registrants. |
| Not applicable | |
| Item 6. | Investments. |
| Not applicable | |
| Item 7. | Financial Statements and Financial Highlights for Open-End Management Investment Companies. |
| (a) |
|
3
|
Investment Portfolio
|
|
8
|
Statement of Assets and Liabilities
|
|
10
|
Statement of Operations
|
|
11
|
Statements of Changes in Net Assets
|
|
12
|
Financial Highlights
|
|
17
|
Notes to Financial Statements
|
|
29
|
Advisory Agreement Board Considerations and Fee Evaluation
|
|
2
|
|
|
DWS Emerging Markets Equity Fund
|
|
|
Shares
|
Value ($)
|
|
|
Equity Securities 99.9%
|
|||
|
Argentina 0.0%
|
|||
|
Grupo Financiero Galicia SA (ADR)* (Cost $1,488)
|
|
100
|
4,134
|
|
Brazil 8.3%
|
|||
|
Anima Holding SA
|
|
900,000
|
721,556
|
|
Banco BTG Pactual SA (Units)
|
|
100,000
|
1,198,352
|
|
Banco do Brasil SA
|
|
250,000
|
1,121,309
|
|
Banco Santander Brasil SA (Units)
|
|
60,000
|
351,872
|
|
Cosan SA*
|
|
700,000
|
712,468
|
|
Empreendimentos Pague Menos SA
|
|
750,000
|
842,118
|
|
Natura Cosmeticos SA*
|
|
40,000
|
82,314
|
|
Odontoprev SA
|
|
125,000
|
384,961
|
|
Raia Drogasil SA
|
|
140,000
|
620,300
|
|
(Cost $5,515,487)
|
|
6,035,250
|
|
|
China 15.9%
|
|||
|
Advanced Micro-Fabrication Equipment, Inc. China "A"
|
|
8,000
|
445,267
|
|
BYD Co., Ltd. "H"
|
|
35,000
|
463,211
|
|
Contemporary Amperex Technology Co., Ltd. "A"
|
|
30,000
|
1,925,027
|
|
DiDi Global, Inc. (ADR)*
|
|
62,500
|
227,500
|
|
EHang Holdings Ltd. (ADR)* (a)
|
|
3,500
|
34,160
|
|
Hesai Group (ADR)*
|
|
25,000
|
567,000
|
|
JD Health International, Inc. 144A*
|
|
70,000
|
410,922
|
|
Naura Technology Group Co., Ltd. "A"
|
|
20,375
|
1,608,033
|
|
Ping An Insurance Group Co. of China Ltd. "H"
|
|
160,000
|
1,303,055
|
|
Tencent Holdings Ltd.
|
|
56,000
|
3,393,784
|
|
Tencent Music Entertainment Group (ADR)
|
|
20,000
|
183,400
|
|
Victory Giant Technology Huizhou Co., Ltd. "H" *
|
|
500
|
20,389
|
|
Wuxi Biologics Cayman, Inc. 144A*
|
|
99,000
|
423,731
|
|
Xiaomi Corp. "B" 144A*
|
|
175,000
|
653,910
|
|
(Cost $7,198,165)
|
|
11,659,389
|
|
|
Cyprus 0.5%
|
|||
|
Theon International PLC (Cost $286,560)
|
|
10,000
|
372,113
|
|
Czech Republic 0.9%
|
|||
|
CSG NV* (Cost $824,615)
|
|
30,000
|
651,510
|
|
Georgia 0.0%
|
|||
|
TBC Bank Group PLC (Cost $3,217)
|
|
100
|
6,627
|
|
Hong Kong 5.9%
|
|||
|
AIA Group Ltd.
|
|
100,000
|
1,102,835
|
|
DWS Emerging Markets Equity Fund
|
|
|
3
|
|
|
Shares
|
Value ($)
|
|
|
Alibaba Group Holding Ltd.
|
|
130,000
|
2,127,365
|
|
Hong Kong Exchanges & Clearing Ltd.
|
|
20,000
|
1,065,540
|
|
(Cost $3,031,290)
|
|
4,295,740
|
|
|
Hungary 1.2%
|
|||
|
OTP Bank Nyrt (Cost $635,513)
|
|
6,500
|
872,520
|
|
India 7.1%
|
|||
|
Avenue Supermarts Ltd. 144A*
|
|
8,250
|
402,472
|
|
Bharti Airtel Ltd.
|
|
40,000
|
801,986
|
|
HDFC Bank Ltd.
|
|
150,000
|
1,231,674
|
|
ICICI Bank Ltd.
|
|
75,000
|
1,006,396
|
|
Larsen & Toubro Ltd.
|
|
100
|
4,272
|
|
Lemon Tree Hotels Ltd. 144A*
|
|
1,000
|
1,254
|
|
Mahindra & Mahindra Ltd.
|
|
8,500
|
279,569
|
|
Power Finance Corp. Ltd.
|
|
165,000
|
786,799
|
|
Shriram Finance Ltd.
|
|
65,000
|
648,839
|
|
(Cost $4,035,895)
|
|
5,163,261
|
|
|
Korea 23.6%
|
|||
|
DB Insurance Co., Ltd.
|
|
4,500
|
513,069
|
|
Doosan Enerbility Co., Ltd.*
|
|
9,000
|
788,961
|
|
Hanwha Aerospace Co., Ltd.
|
|
800
|
777,156
|
|
HD Hyundai Marine Solution Co., Ltd.
|
|
3,000
|
542,519
|
|
Hyundai Rotem Co., Ltd.
|
|
2,500
|
459,665
|
|
KB Financial Group, Inc.
|
|
7,500
|
820,242
|
|
Kia Corp.
|
|
4,000
|
412,631
|
|
Samsung C&T Corp.
|
|
4,750
|
974,860
|
|
Samsung Electronics Co., Ltd.
|
|
17,500
|
2,675,634
|
|
Samsung Fire & Marine Insurance Co., Ltd.
|
|
3,000
|
937,708
|
|
Samsung Life Insurance Co., Ltd.
|
|
3,864
|
659,243
|
|
SK Hynix, Inc.
|
|
3,750
|
3,322,866
|
|
SK Square Co., Ltd.*
|
|
7,500
|
4,369,777
|
|
(Cost $6,421,717)
|
|
17,254,331
|
|
|
Mexico 0.0%
|
|||
|
BBB Foods, Inc. "A" * (Cost $2,825)
|
|
100
|
3,650
|
|
Netherlands 1.5%
|
|||
|
Prosus NV (Cost $906,790)
|
|
22,500
|
1,088,903
|
|
Philippines 0.8%
|
|||
|
Nickel Asia Corp. (Cost $609,001)
|
|
7,500,000
|
615,473
|
|
Poland 0.5%
|
|||
|
Budimex SA (Cost $297,535)
|
|
2,000
|
364,466
|
|
4
|
|
|
DWS Emerging Markets Equity Fund
|
|
|
Shares
|
Value ($)
|
|
|
South Africa 2.9%
|
|||
|
Capitec Bank Holdings Ltd.
|
|
6,750
|
1,757,444
|
|
Pepkor Holdings Ltd. 144A
|
|
250,000
|
331,425
|
|
(Cost $1,476,707)
|
|
2,088,869
|
|
|
Taiwan 22.4%
|
|||
|
Alchip Technologies Ltd.
|
|
7,000
|
934,481
|
|
ASE Technology Holding Co., Ltd.
|
|
45,000
|
692,627
|
|
Hon Hai Precision Industry Co., Ltd.
|
|
125,000
|
877,559
|
|
MediaTek, Inc.
|
|
15,000
|
1,254,421
|
|
Taiwan Semiconductor Manufacturing Co., Ltd.
|
|
185,803
|
12,650,642
|
|
(Cost $2,482,101)
|
|
16,409,730
|
|
|
Turkey 4.5%
|
|||
|
Anadolu Efes Biracilik Ve Malt Sanayii AS
|
|
750,000
|
315,934
|
|
Astor Transformator Enerji Turizm Insaat Ve Petrol Sanayi
Ticaret AS
|
|
475,000
|
2,997,944
|
|
(Cost $1,711,294)
|
|
3,313,878
|
|
|
United Arab Emirates 1.2%
|
|||
|
Kyivstar Group Ltd.* (a) (b) (Cost $798,522)
|
|
75,000
|
891,750
|
|
United Kingdom 1.7%
|
|||
|
Endeavour Mining PLC (Cost $1,157,892)
|
|
21,000
|
1,243,652
|
|
United States 0.4%
|
|||
|
BeOne Medicines Ltd. "H" * (c) (Cost $297,653)
|
|
12,500
|
280,422
|
|
Uruguay 0.6%
|
|||
|
MercadoLibre, Inc.* (Cost $501,546)
|
|
250
|
448,157
|
|
Total Equity Securities (Cost $38,195,813)
|
|
73,063,825
|
|
|
Exchange-Traded Funds 0.0%
|
|||
|
iShares MSCI Saudi Arabia ETF (Cost $4,048)
|
|
100
|
3,910
|
|
Securities Lending Collateral 1.2%
|
|||
|
DWS Government & Agency Securities Portfolio "DWS
Government Cash Institutional Shares" , 3.56% (d) (e)
(Cost $857,900)
|
|
857,900
|
857,900
|
|
Cash Equivalents 0.6%
|
|||
|
DWS Central Cash Management Government Fund,
3.67% (d) (Cost $456,442)
|
|
456,442
|
456,442
|
|
DWS Emerging Markets Equity Fund
|
|
|
5
|
|
|
|
% of
Net Assets
|
Value ($)
|
|
Total Investment Portfolio (Cost $39,514,203)
|
|
101.7
|
74,382,077
|
|
Other Assets and Liabilities, Net
|
|
(1.7
)
|
(1,269,092
)
|
|
Net Assets
|
|
100.0
|
73,112,985
|
|
Value ($)
at
10/31/2025
|
Pur-
chases
Cost
($)
|
Sales
Proceeds
($)
|
Net
Real-
ized
Gain/
(Loss)
($)
|
Net
Change
in
Unreal-
ized
Appreci-
ation
(Depreci-
ation)
($)
|
Income
($)
|
Capital
Gain
Distri-
butions
($)
|
Number of
Shares at
4/30/2026
|
Value ($)
at
4/30/2026
|
|
Securities Lending Collateral 1.2%
|
||||||||
|
DWS Government & Agency Securities Portfolio "DWS Government Cash Institutional Shares" ,
3.56% (d) (e)
|
||||||||
|
1,752,025
|
-
|
894,125 (f)
|
-
|
-
|
14,972
|
-
|
857,900
|
857,900
|
|
Cash Equivalents 0.6%
|
||||||||
|
DWS Central Cash Management Government Fund, 3.67% (d)
|
||||||||
|
443
|
14,478,225
|
14,022,226
|
-
|
-
|
5,039
|
-
|
456,442
|
456,442
|
|
1,752,468
|
14,478,225
|
14,916,351
|
-
|
-
|
20,011
|
-
|
1,314,342
|
1,314,342
|
|
*
|
Non-income producing security.
|
|
(a)
|
All or a portion of these securities were on loan. In addition, "Other Assets and
Liabilities, Net" may include pending sales that are also on loan. The value of securities
loaned at April 30, 2026 amounted to $851,216, which is 1.2% of net assets.
|
|
(b)
|
Listed on the NASDAQ Stock Market, Inc.
|
|
(c)
|
Listed on the Stock Exchange of Hong Kong.
|
|
(d)
|
Affiliated fund managed by DWS Investment Management Americas, Inc. The rate
shown is the annualized seven-day yield at period end.
|
|
(e)
|
Represents cash collateral held in connection with securities lending. Income earned by
the Fund is net of borrower rebates.
|
|
(f)
|
Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount
invested in cash collateral for the period ended April 30, 2026.
|
|
144A: Security exempt from registration under Rule 144A under the Securities Act of 1933.
These securities may be resold in transactions exempt from registration, normally to
qualified institutional buyers.
|
|
ADR: American Depositary Receipt
|
|
MSCI: Morgan Stanley Capital International
|
|
6
|
|
|
DWS Emerging Markets Equity Fund
|
|
Assets
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Equity Securities
|
||||
|
Argentina
|
$4,134
|
$-
|
$-
|
$4,134
|
|
Brazil
|
6,035,250
|
-
|
-
|
6,035,250
|
|
China
|
1,012,060
|
10,647,329
|
-
|
11,659,389
|
|
Cyprus
|
-
|
372,113
|
-
|
372,113
|
|
Czech Republic
|
-
|
651,510
|
-
|
651,510
|
|
Georgia
|
-
|
6,627
|
-
|
6,627
|
|
Hong Kong
|
-
|
4,295,740
|
-
|
4,295,740
|
|
Hungary
|
-
|
872,520
|
-
|
872,520
|
|
India
|
-
|
5,163,261
|
-
|
5,163,261
|
|
Korea
|
-
|
17,254,331
|
-
|
17,254,331
|
|
Mexico
|
3,650
|
-
|
-
|
3,650
|
|
Netherlands
|
-
|
1,088,903
|
-
|
1,088,903
|
|
Philippines
|
-
|
615,473
|
-
|
615,473
|
|
Poland
|
-
|
364,466
|
-
|
364,466
|
|
South Africa
|
-
|
2,088,869
|
-
|
2,088,869
|
|
Taiwan
|
-
|
16,409,730
|
-
|
16,409,730
|
|
Turkey
|
-
|
3,313,878
|
-
|
3,313,878
|
|
United Arab Emirates
|
891,750
|
-
|
-
|
891,750
|
|
United Kingdom
|
-
|
1,243,652
|
-
|
1,243,652
|
|
United States
|
-
|
280,422
|
-
|
280,422
|
|
Uruguay
|
448,157
|
-
|
-
|
448,157
|
|
Exchange-Traded Funds
|
3,910
|
-
|
-
|
3,910
|
|
Short-Term Investments (a)
|
1,314,342
|
-
|
-
|
1,314,342
|
|
Total
|
$9,713,253
|
$64,668,824
|
$-
|
$74,382,077
|
|
(a)
|
See Investment Portfolio for additional detailed categorizations.
|
|
DWS Emerging Markets Equity Fund
|
|
|
7
|
|
Assets
|
|
|
Investments in non-affiliated securities, at value (cost $38,199,861) -
including $851,216 of securities loaned
|
$73,067,735
|
|
Investment in DWS Government & Agency Securities Portfolio
(cost $857,900)*
|
857,900
|
|
Investment in DWS Central Cash Management Government Fund
(cost $456,442)
|
456,442
|
|
Cash
|
41
|
|
Foreign currency, at value (cost $149,005)
|
149,468
|
|
Receivable for investments sold
|
350,552
|
|
Receivable for Fund shares sold
|
7,508
|
|
Dividends receivable
|
57,403
|
|
Affiliated securities lending income receivable
|
2,782
|
|
Foreign taxes recoverable
|
7,936
|
|
Other assets
|
41,706
|
|
Total assets
|
74,999,473
|
|
Liabilities
|
|
|
Payable upon return of securities loaned
|
857,900
|
|
Payable for investments purchased
|
117,002
|
|
Payable for Fund shares redeemed
|
556,337
|
|
Deferred foreign taxes payable
|
238,883
|
|
Accrued management fee
|
18,763
|
|
Accrued Directors' fees
|
562
|
|
Other accrued expenses and payables
|
97,041
|
|
Total liabilities
|
1,886,488
|
|
Net assets, at value
|
$73,112,985
|
|
Net Assets Consist of
|
|
|
Distributable earnings (loss)
|
(33,798,589
)
|
|
Paid-in capital
|
106,911,574
|
|
Net assets, at value
|
$73,112,985
|
|
8
|
|
|
DWS Emerging Markets Equity Fund
|
|
Net Asset Value
|
|
|
Class A
|
|
|
Net Asset Value and redemption price per share
($8,453,548 ÷ 315,389 shares of capital stock outstanding,
$.01 par value, 50,000,000 shares authorized)
|
$26.80
|
|
Maximum offering price per share (100 ÷ 94.25 of $26.80)
|
$28.44
|
|
Class C
|
|
|
Net Asset Value, offering and redemption price
(subject to contingent deferred sales charge) per share
($989,392 ÷ 41,614 shares of capital stock outstanding, $.01 par value,
20,000,000 shares authorized)
|
$23.78
|
|
Class R6
|
|
|
Net Asset Value, offering and redemption price per share
($45,505 ÷ 1,681 shares of capital stock outstanding, $.01 par value,
50,000,000 shares authorized)**
|
$27.08
|
|
Class S
|
|
|
Net Asset Value, offering and redemption price per share
($40,757,581 ÷ 1,500,929 shares of capital stock outstanding,
$.01 par value, 100,000,000 shares authorized)
|
$27.15
|
|
Institutional Class
|
|
|
Net Asset Value, offering and redemption price per share
($22,866,959 ÷ 841,518 shares of capital stock outstanding,
$.01 par value, 100,000,000 shares authorized)
|
$27.17
|
|
DWS Emerging Markets Equity Fund
|
|
|
9
|
|
Investment Income
|
|
|
Income:
|
|
|
Dividends (net of foreign taxes withheld of $74,922)
|
$395,775
|
|
Income distributions - DWS Central Cash Management Government Fund
|
5,039
|
|
Affiliated securities lending income
|
14,972
|
|
Total income
|
415,786
|
|
Expenses:
|
|
|
Management fee
|
235,057
|
|
Administration fee
|
32,572
|
|
Services to shareholders
|
59,188
|
|
Distribution and service fees
|
13,992
|
|
Custodian fee
|
17,197
|
|
Audit fee
|
30,862
|
|
Legal fees
|
7,474
|
|
Tax fees
|
2,985
|
|
Reports to shareholders
|
16,593
|
|
Registration fees
|
33,400
|
|
Directors' fees and expenses
|
1,812
|
|
Other
|
20,798
|
|
Total expenses before expense reductions
|
471,930
|
|
Expense reductions
|
(138,087
)
|
|
Total expenses after expense reductions
|
333,843
|
|
Net investment income
|
81,943
|
|
Realized and Unrealized Gain (Loss)
|
|
|
Net realized gain (loss) from:
|
|
|
Investments (net of foreign taxes of $94,709)
|
5,082,751
|
|
Foreign currency
|
(22,207
)
|
|
|
5,060,544
|
|
Change in net unrealized appreciation (depreciation) on:
|
|
|
Investments (including deferred foreign taxes of $163,642)
|
7,424,760
|
|
Foreign currency
|
166,004
|
|
|
7,590,764
|
|
Net gain (loss)
|
12,651,308
|
|
Net increase (decrease) in net assets resulting from operations
|
$12,733,251
|
|
10
|
|
|
DWS Emerging Markets Equity Fund
|
|
|
Six Months
Ended
April 30, 2026
|
Year Ended
October 31,
|
|
Increase (Decrease) in Net Assets
|
(Unaudited)
|
2025
|
|
Operations:
|
||
|
Net investment income
|
$81,943
|
$296,479
|
|
Net realized gain (loss)
|
5,060,544
|
5,989,707
|
|
Change in net unrealized appreciation
(depreciation)
|
7,590,764
|
6,813,623
|
|
Net increase (decrease) in net assets resulting
from operations
|
12,733,251
|
13,099,809
|
|
Distributions to shareholders:
|
||
|
Class A
|
(193,152
)
|
-
|
|
Class C
|
(16,044
)
|
-
|
|
Class R6
|
(16,161
)
|
(737
)
|
|
Class S
|
(1,049,152
)
|
(47,565
)
|
|
Institutional Class
|
(587,550
)
|
(51,578
)
|
|
Total distributions
|
(1,862,059
)
|
(99,880
)
|
|
Fund share transactions:
|
||
|
Proceeds from shares sold
|
4,148,091
|
4,923,468
|
|
Reinvestment of distributions
|
1,783,470
|
96,552
|
|
Payments for shares redeemed
|
(10,058,048
)
|
(16,754,770
)
|
|
Net increase (decrease) in net assets from Fund
share transactions
|
(4,126,487
)
|
(11,734,750
)
|
|
Increase (decrease) in net assets
|
6,744,705
|
1,265,179
|
|
Net assets at beginning of period
|
66,368,280
|
65,103,101
|
|
Net assets at end of period
|
$73,112,985
|
$66,368,280
|
|
DWS Emerging Markets Equity Fund
|
|
|
11
|
|
DWS Emerging Markets Equity Fund - Class A
|
||||||
|
|
Six Months
Ended 4/30/26
|
Years Ended October 31,
|
||||
|
|
(Unaudited)
|
2025
|
2024
|
2023
|
2022
|
2021
|
|
Selected Per Share Data
|
||||||
|
Net asset value, beginning
of period
|
$22.90
|
$18.56
|
$15.38
|
$14.64
|
$22.37
|
$21.32
|
|
Income (loss) from investment
operations:
|
||||||
|
Net investment incomea
|
.01
|
.07
|
.16
|
.18
|
.37
|
.17
|
|
Net realized and unrealized
gain (loss)
|
4.52
|
4.27
|
3.36
|
.88
|
(7.77
)
|
1.14
|
|
Total from investment
operations
|
4.53
|
4.34
|
3.52
|
1.06
|
(7.40
)
|
1.31
|
|
Less distributions from:
|
||||||
|
Net investment income
|
(.63
)
|
-
|
(.34
)
|
(.32
)
|
(.33
)
|
(.26
)
|
|
Net asset value, end
of period
|
$26.80
|
$22.90
|
$18.56
|
$15.38
|
$14.64
|
$22.37
|
|
Total Return (%)b,c
|
20.30
*
|
23.38
|
23.12
|
7.12
|
(33.54
)
|
6.07
|
|
Ratios to Average Net Assets and Supplemental Data
|
||||||
|
Net assets, end of period
($ millions)
|
8
|
7
|
7
|
7
|
8
|
23
|
|
Ratio of expenses before
expense reductions (%)
|
1.64
**
|
1.74
|
1.67
|
1.47
|
1.33
|
1.28
|
|
Ratio of expenses after
expense reductions (%)
|
1.16
**
|
1.18
|
1.19
|
1.16
|
1.15
|
1.15
|
|
Ratio of net investment
income (%)
|
.09
**
|
.35
|
.90
|
1.07
|
1.94
|
.68
|
|
Portfolio turnover rate (%)
|
29
*
|
94
|
61
|
64
|
51
|
94
|
|
a
|
Based on average shares outstanding during the period.
|
|
b
|
Total return does not reflect the effect of any sales charges.
|
|
c
|
Total return would have been lower had certain expenses not been reduced.
|
|
*
|
Not annualized
|
|
**
|
Annualized
|
|
12
|
|
|
DWS Emerging Markets Equity Fund
|
|
DWS Emerging Markets Equity Fund - Class C
|
||||||
|
|
Six Months
Ended 4/30/26
|
Years Ended October 31,
|
||||
|
|
(Unaudited)
|
2025
|
2024
|
2023
|
2022
|
2021
|
|
Selected Per Share Data
|
||||||
|
Net asset value, beginning
of period
|
$20.17
|
$16.47
|
$13.65
|
$12.99
|
$19.85
|
$18.92
|
|
Income (loss) from investment
operations:
|
||||||
|
Net investment income
(loss)a
|
(.07
)
|
(.08
)
|
.02
|
.05
|
.21
|
(.01
)
|
|
Net realized and unrealized
gain (loss)
|
4.01
|
3.78
|
2.99
|
.78
|
(6.92
)
|
1.01
|
|
Total from investment
operations
|
3.94
|
3.70
|
3.01
|
.83
|
(6.71
)
|
1.00
|
|
Less distributions from:
|
||||||
|
Net investment income
|
(.33
)
|
-
|
(.19
)
|
(.17
)
|
(.15
)
|
(.07
)
|
|
Net asset value, end
of period
|
$23.78
|
$20.17
|
$16.47
|
$13.65
|
$12.99
|
$19.85
|
|
Total Return (%)b,c
|
19.82
*
|
22.47
|
22.20
|
6.42
|
(34.09
)
|
5.32
|
|
Ratios to Average Net Assets and Supplemental Data
|
||||||
|
Net assets, end of period
($ millions)
|
1
|
1
|
2
|
4
|
3
|
6
|
|
Ratio of expenses before
expense reductions (%)
|
2.39
**
|
2.45
|
2.32
|
2.11
|
2.02
|
1.99
|
|
Ratio of expenses after
expense reductions (%)
|
1.91
**
|
1.93
|
1.94
|
1.91
|
1.90
|
1.90
|
|
Ratio of net investment
income (loss) (%)
|
(.69
)**
|
(.49
)
|
.11
|
.32
|
1.28
|
(.05
)
|
|
Portfolio turnover rate (%)
|
29
*
|
94
|
61
|
64
|
51
|
94
|
|
a
|
Based on average shares outstanding during the period.
|
|
b
|
Total return does not reflect the effect of any sales charges.
|
|
c
|
Total return would have been lower had certain expenses not been reduced.
|
|
*
|
Not annualized
|
|
**
|
Annualized
|
|
DWS Emerging Markets Equity Fund
|
|
|
13
|
|
DWS Emerging Markets Equity Fund - Class R6
|
||||||
|
|
Six Months
Ended 4/30/26
|
Years Ended October 31,
|
||||
|
|
(Unaudited)
|
2025
|
2024
|
2023
|
2022
|
2021
|
|
Selected Per Share Data
|
||||||
|
Net asset value, beginning
of period
|
$23.24
|
$18.83
|
$15.61
|
$14.85
|
$22.70
|
$21.63
|
|
Income (loss) from investment
operations:
|
||||||
|
Net investment incomea
|
.03
|
.12
|
.19
|
.21
|
.45
|
.27
|
|
Net realized and unrealized
gain (loss)
|
4.58
|
4.33
|
3.41
|
.92
|
(7.92
)
|
1.12
|
|
Total from investment
operations
|
4.61
|
4.45
|
3.60
|
1.13
|
(7.47
)
|
1.39
|
|
Less distributions from:
|
||||||
|
Net investment income
|
(.77
)
|
(.04
)
|
(.38
)
|
(.37
)
|
(.38
)
|
(.32
)
|
|
Net asset value, end
of period
|
$27.08
|
$23.24
|
$18.83
|
$15.61
|
$14.85
|
$22.70
|
|
Total Return (%)b
|
20.50
*
|
23.64
|
23.44
|
7.46
|
(33.40
)
|
6.36
|
|
Ratios to Average Net Assets and Supplemental Data
|
||||||
|
Net assets, end of period
($ thousands)
|
46
|
426
|
313
|
637
|
460
|
846
|
|
Ratio of expenses before
expense reductions (%)
|
1.24
**
|
1.31
|
1.25
|
1.05
|
.95
|
.90
|
|
Ratio of expenses after
expense reductions (%)
|
.91
**
|
.93
|
.94
|
.91
|
.90
|
.90
|
|
Ratio of net investment
income (%)
|
.28
**
|
.60
|
1.11
|
1.27
|
2.34
|
1.11
|
|
Portfolio turnover rate (%)
|
29
*
|
94
|
61
|
64
|
51
|
94
|
|
a
|
Based on average shares outstanding during the period.
|
|
b
|
Total return would have been lower had certain expenses not been reduced.
|
|
*
|
Not annualized
|
|
**
|
Annualized
|
|
14
|
|
|
DWS Emerging Markets Equity Fund
|
|
DWS Emerging Markets Equity Fund - Class S
|
||||||
|
|
Six Months
Ended 4/30/26
|
Years Ended October 31,
|
||||
|
|
(Unaudited)
|
2025
|
2024
|
2023
|
2022
|
2021
|
|
Selected Per Share Data
|
||||||
|
Net asset value, beginning
of period
|
$23.24
|
$18.83
|
$15.60
|
$14.85
|
$22.69
|
$21.63
|
|
Income (loss) from investment
operations:
|
||||||
|
Net investment incomea
|
.03
|
.10
|
.19
|
.21
|
.41
|
.19
|
|
Net realized and unrealized
gain (loss)
|
4.57
|
4.34
|
3.41
|
.89
|
(7.88
)
|
1.17
|
|
Total from investment
operations
|
4.60
|
4.44
|
3.60
|
1.10
|
(7.47
)
|
1.36
|
|
Less distributions from:
|
||||||
|
Net investment income
|
(.69
)
|
(.03
)
|
(.37
)
|
(.35
)
|
(.37
)
|
(.30
)
|
|
Net asset value, end
of period
|
$27.15
|
$23.24
|
$18.83
|
$15.60
|
$14.85
|
$22.69
|
|
Total Return (%)b
|
20.37
*
|
23.61
|
23.35
|
7.30
|
(33.43
)
|
6.27
|
|
Ratios to Average Net Assets and Supplemental Data
|
||||||
|
Net assets, end of period
($ millions)
|
41
|
36
|
32
|
34
|
47
|
128
|
|
Ratio of expenses before
expense reductions (%)
|
1.40
**
|
1.49
|
1.43
|
1.22
|
1.10
|
1.04
|
|
Ratio of expenses after
expense reductions (%)
|
.99
**
|
1.01
|
1.02
|
.99
|
.98
|
.98
|
|
Ratio of net investment
income (%)
|
.25
**
|
.50
|
1.07
|
1.28
|
2.13
|
.75
|
|
Portfolio turnover rate (%)
|
29
*
|
94
|
61
|
64
|
51
|
94
|
|
a
|
Based on average shares outstanding during the period.
|
|
b
|
Total return would have been lower had certain expenses not been reduced.
|
|
*
|
Not annualized
|
|
**
|
Annualized
|
|
DWS Emerging Markets Equity Fund
|
|
|
15
|
|
DWS Emerging Markets Equity Fund - Institutional Class
|
||||||
|
|
Six Months
Ended 4/30/26
|
Years Ended October 31,
|
||||
|
|
(Unaudited)
|
2025
|
2024
|
2023
|
2022
|
2021
|
|
Selected Per Share Data
|
||||||
|
Net asset value, beginning
of period
|
$23.21
|
$18.81
|
$15.59
|
$14.83
|
$22.67
|
$21.61
|
|
Income (loss) from investment
operations:
|
||||||
|
Net investment incomea
|
.04
|
.11
|
.19
|
.23
|
.43
|
.24
|
|
Net realized and unrealized
gain (loss)
|
4.58
|
4.33
|
3.41
|
.90
|
(7.89
)
|
1.14
|
|
Total from investment
operations
|
4.62
|
4.44
|
3.60
|
1.13
|
(7.46
)
|
1.38
|
|
Less distributions from:
|
||||||
|
Net investment income
|
(.66
)
|
(.04
)
|
(.38
)
|
(.37
)
|
(.38
)
|
(.32
)
|
|
Net asset value, end
of period
|
$27.17
|
$23.21
|
$18.81
|
$15.59
|
$14.83
|
$22.67
|
|
Total Return (%)b
|
20.47
*
|
23.68
|
23.40
|
7.47
|
(33.43
)
|
6.36
|
|
Ratios to Average Net Assets and Supplemental Data
|
||||||
|
Net assets, end of period
($ millions)
|
23
|
21
|
24
|
54
|
117
|
308
|
|
Ratio of expenses before
expense reductions (%)
|
1.29
**
|
1.37
|
1.29
|
1.10
|
.99
|
.98
|
|
Ratio of expenses after
expense reductions (%)
|
.91
**
|
.93
|
.94
|
.91
|
.90
|
.90
|
|
Ratio of net investment
income (%)
|
.33
**
|
.56
|
1.07
|
1.34
|
2.25
|
.96
|
|
Portfolio turnover rate (%)
|
29
*
|
94
|
61
|
64
|
51
|
94
|
|
a
|
Based on average shares outstanding during the period.
|
|
b
|
Total return would have been lower had certain expenses not been reduced.
|
|
*
|
Not annualized
|
|
**
|
Annualized
|
|
16
|
|
|
DWS Emerging Markets Equity Fund
|
|
DWS Emerging Markets Equity Fund
|
|
|
17
|
|
18
|
|
|
DWS Emerging Markets Equity Fund
|
|
DWS Emerging Markets Equity Fund
|
|
|
19
|
|
20
|
|
|
DWS Emerging Markets Equity Fund
|
|
|
Overnight
and
Continuous
|
˂30 days
|
Between 30
& 90 days
|
˃90 days
|
Total
|
|
Securities Lending Transactions
|
|||||
|
Equity Securities
|
$857,900
|
$-
|
$-
|
$-
|
$857,900
|
|
Gross amount of recognized liabilities and cash collateral for securities
lending transactions:
|
$857,900
|
||||
|
DWS Emerging Markets Equity Fund
|
|
|
21
|
|
22
|
|
|
DWS Emerging Markets Equity Fund
|
|
Class A
|
1.15%
|
|
Class C
|
1.90%
|
|
Class R6
|
.90%
|
|
Class S
|
.98%
|
|
Institutional Class
|
.90%
|
|
DWS Emerging Markets Equity Fund
|
|
|
23
|
|
Class A
|
$18,462
|
|
Class C
|
2,390
|
|
Class R6
|
493
|
|
Class S
|
75,517
|
|
Institutional Class
|
41,225
|
|
|
$138,087
|
|
Services to Shareholders
|
Total
Aggregated
|
Unpaid at
April 30, 2026
|
|
Class A
|
$3,439
|
$1,137
|
|
Class C
|
230
|
78
|
|
Class R6
|
46
|
12
|
|
Class S
|
18,458
|
6,275
|
|
Institutional Class
|
270
|
88
|
|
|
$22,443
|
$7,590
|
|
24
|
|
|
DWS Emerging Markets Equity Fund
|
|
Sub-Recordkeeping
|
Total
Aggregated
|
|
Class A
|
$3,921
|
|
Class C
|
663
|
|
Class S
|
15,818
|
|
Institutional Class
|
8,206
|
|
|
$28,608
|
|
Distribution Fee
|
Total
Aggregated
|
Unpaid at
April 30, 2026
|
|
Class C
|
$3,692
|
$590
|
|
Service Fee
|
Total
Aggregated
|
Unpaid at
April 30, 2026
|
Annualized
Rate
|
|
Class A
|
$9,070
|
$3,293
|
.24%
|
|
Class C
|
1,230
|
132
|
.25%
|
|
|
$10,300
|
$3,425
|
|
DWS Emerging Markets Equity Fund
|
|
|
25
|
|
26
|
|
|
DWS Emerging Markets Equity Fund
|
|
|
Six Months Ended
April 30, 2026
|
Year Ended
October 31, 2025
|
||
|
|
Shares
|
Dollars
|
Shares
|
Dollars
|
|
Shares sold
|
||||
|
Class A
|
41,323
|
$1,000,956
|
16,826
|
$328,829
|
|
Class C
|
219
|
4,444
|
221
|
3,745
|
|
Class R6
|
5,776
|
137,472
|
2,727
|
53,459
|
|
Class S
|
39,375
|
977,767
|
93,409
|
1,865,925
|
|
Institutional Class
|
82,416
|
2,027,452
|
138,913
|
2,671,510
|
|
|
$4,148,091
|
$4,923,468
|
||
|
Shares issued to shareholders in reinvestment of distributions
|
||||
|
Class A
|
8,371
|
$187,257
|
-
|
$-
|
|
Class C
|
779
|
15,499
|
-
|
-
|
|
Class R6
|
715
|
16,161
|
40
|
737
|
|
Class S
|
43,201
|
978,499
|
2,371
|
44,242
|
|
Institutional Class
|
25,863
|
586,054
|
2,768
|
51,573
|
|
|
$1,783,470
|
$96,552
|
||
|
Shares redeemed
|
||||
|
Class A
|
(48,516
)
|
$(1,187,733
)
|
(91,712
)
|
$(1,803,088
)
|
|
Class C
|
(13,581
)
|
(285,118
)
|
(54,027
)
|
(919,351
)
|
|
Class R6
|
(23,126
)
|
(561,879
)
|
(1,051
)
|
(21,484
)
|
|
Class S
|
(139,228
)
|
(3,374,187
)
|
(250,110
)
|
(4,873,257
)
|
|
Institutional Class
|
(191,323
)
|
(4,649,131
)
|
(469,779
)
|
(9,137,590
)
|
|
|
$(10,058,048
)
|
$(16,754,770
)
|
||
|
DWS Emerging Markets Equity Fund
|
|
|
27
|
|
|
Six Months Ended
April 30, 2026
|
Year Ended
October 31, 2025
|
||
|
|
Shares
|
Dollars
|
Shares
|
Dollars
|
|
Net increase (decrease)
|
||||
|
Class A
|
1,178
|
$480
|
(74,886
)
|
$(1,474,259
)
|
|
Class C
|
(12,583
)
|
(265,175
)
|
(53,806
)
|
(915,606
)
|
|
Class R6
|
(16,635
)
|
(408,246
)
|
1,716
|
32,712
|
|
Class S
|
(56,652
)
|
(1,417,921
)
|
(154,330
)
|
(2,963,090
)
|
|
Institutional Class
|
(83,044
)
|
(2,035,625
)
|
(328,098
)
|
(6,414,507
)
|
|
|
$(4,126,487
)
|
$(11,734,750
)
|
||
|
28
|
|
|
DWS Emerging Markets Equity Fund
|
|
DWS Emerging Markets Equity Fund
|
|
|
29
|
|
30
|
|
|
DWS Emerging Markets Equity Fund
|
|
DWS Emerging Markets Equity Fund
|
|
|
31
|
|
32
|
|
|
DWS Emerging Markets Equity Fund
|
|
DWS Emerging Markets Equity Fund
|
|
|
33
|
| (b) The Financial Highlights are included with the Financial Statements under Item 7(a). | ||
| Item 8. | Changes in and Disagreements with Accountants for Open-End Management Investment Companies. | |
| Not applicable | ||
| Item 9. | Proxy Disclosures for Open-End Management Investment Companies. | |
| Not applicable | ||
| Item 10. | Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies. | |
| See Item 7(a) | ||
| Item 11. | Statement Regarding Basis for Approval of Investment Advisory Contract. | |
| See Item 7(a) | ||
| Item 12. | Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies. | |
| Not applicable | ||
| Item 13. | Portfolio Managers of Closed-End Management Investment Companies. | |
| Not applicable | ||
| Item 14. | Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers. | |
| Not applicable | ||
| Item 15. | Submission of Matters to a Vote of Security Holders. | |
| There were no material changes to the procedures by which shareholders may recommend nominees to the Fund's Board. The primary function of the Nominating and Governance Committee is to identify and recommend individuals for membership on the Board and oversee the administration of the Board Governance Guidelines. Shareholders may recommend candidates for Board positions by forwarding their correspondence by U.S. mail or courier service to Keith R. Fox, DWS Funds Board Chair, c/o Thomas R. Hiller, Ropes & Gray LLP, Prudential Tower, 800 Boylston Street, Boston, MA 02199-3600. | ||
| Item 16. | Controls and Procedures. | |
| (a) | The Chief Executive and Financial Officers concluded that the Registrant's Disclosure Controls and Procedures are effective based on the evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report. | |
| (b) | There have been no changes in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal controls over financial reporting. | |
| Item 17. | Disclosure of Securities Lending Activities for Closed-End Management Investment Companies. | |
| Not applicable | ||
| Item 18. | Recovery of Erroneously Awarded Compensation. | |
| Not applicable | ||
| Item 19. | Exhibits | |
| (a)(1) | Not applicable | |
| (a)(2) | Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT. | |
| (b) | Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) is furnished and attached hereto as Exhibit 99.906CERT. | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Registrant: | DWS Emerging Markets Equity Fund, a series of Deutsche DWS International Fund, Inc. |
| By: |
/s/Hepsen Uzcan Hepsen Uzcan Principal Executive Officer |
| Date: | 6/29/2026 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
| By: |
/s/Hepsen Uzcan Hepsen Uzcan Principal Executive Officer |
| Date: | 6/29/2026 |
| By: |
/s/Diane Kenneally Diane Kenneally Principal Financial Officer |
| Date: | 6/29/2026 |