DBEU offers broad European exposure with a currency-hedged overlay in a large and liquid wrapper. The fund invests in equities from all developed countries in Europe while engaging in currency forward contracts that hedge out its currency exposure. As a result, DBEU offers the ability to outperform unhedged peer funds when the EUR, GBP, and other related currencies fall in value relative to the USD, and will lag in the opposite scenario. The fund launched in 2013.