Summary Prospectus by Investment Company (Form 497K)

SUPPLEMENT TO THE CURRENTLY EFFECTIVE SUMMARY PROSPECTUS AND PROSPECTUS

DWS Short-Term Municipal Bond Fund

SHAREHOLDER FEES (paid directly from your investment) 

	A	C	INST	S
Maximum sales charge (load) imposed on purchases, as % of offering price	2.25	None	None	None
Maximum deferred sales charge (load), as % of redemption proceeds1	None	1.00	None	None
Account Maintenance Fee (annually, for fund account balances below $10,000 and subject to certain exceptions)	$20	$20	None	$20

ANNUAL FUND OPERATING EXPENSES
(expenses that you pay each year as a % of the value of your investment) 

	A	C	INST	S
Management fee	0.30	0.30	0.30	0.30
Distribution/service (12b-1) fees	0.25	0.99	None	None
Other expenses2	0.33	0.35	0.34	0.35
Total annual fund operating expenses	0.88	1.64	0.64	0.65
Fee waiver/expense reimbursement	0.29	0.30	0.30	0.26
Total annual fund operating expenses after fee waiver/expense reimbursement	0.59	1.34	0.34	0.39

The Advisor has contractually agreed through September 30, 2027 to waive its fees and/or reimburse fund expenses to the extent necessary to maintain the fund's total annual operating expenses (excluding certain expenses such as extraordinary expenses, taxes, brokerage, interest expense and acquired fund fees and expenses) at ratios no higher than 0.59%, 1.34%, 0.34% and 0.39% for Class A, Class C, Institutional Class and Class S, respectively. The agreement may only be terminated with the consent of the fund's Board.

EXAMPLE

This Example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of

your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the fund's operating expenses (including one year of capped expenses in each period) remain the same. Class C shares generally convert automatically to Class A shares after 8 years. The information presented in the Example for Class C reflects the conversion of Class C shares to Class A shares after 8 years. See "Class C Shares" in the "Choosing a Share Class" section of the prospectus for more information. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 

Years	A	C	INST	S
1	$284	$236	$35	$40
3	471	488	175	182
5	674	864	327	336
10	1,259	1,715	770	786

You would pay the following expenses if you did not redeem your shares: 

Years	A	C	INST	S
1	$284	$136	$35	$40
3	471	488	175	182
5	674	864	327	336
10	1,259	1,715	770	786

April 21, 2026

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Effective April 21, 2026, the following information replaces the existing similar disclosure relating to the fund under the "HYPOTHETICAL EXPENSE SUMMARY" heading in the "APPENDIX A" section of the fund's prospectus:

DWS Short-Term Municipal Bond Fund - Class A 

	Maximum Sales Charge: 2.25%	Initial Hypothetical Investment: $10,000		Assumed Rate of Return: 5%
Year	Cumulative Return Before Fees & Expenses	Annual Fund Expense Ratios	Cumulative Return After Fees & Expenses	Hypothetical Year-End Balance After Fees & Expenses	Annual Fees & Expenses
1	5.00%	0.59%	2.06%	$10,206.08	$283.94
2	10.25%	0.88%	6.27%	$10,626.57	$91.66
3	15.76%	0.88%	10.64%	$11,064.38	$95.44
4	21.55%	0.88%	15.20%	$11,520.24	$99.37
5	27.63%	0.88%	19.95%	$11,994.87	$103.47
6	34.01%	0.88%	24.89%	$12,489.06	$107.73
7	40.71%	0.88%	30.04%	$13,003.61	$112.17
8	47.75%	0.88%	35.39%	$13,539.36	$116.79
9	55.13%	0.88%	40.97%	$14,097.18	$121.60
10	62.89%	0.88%	46.78%	$14,677.98	$126.61
Total					$1,258.78

April 21, 2026

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DWS Short-Term Municipal Bond Fund - Class C 

	Maximum Sales Charge: 0.00%	Initial Hypothetical Investment: $10,000		Assumed Rate of Return: 5%
Year	Cumulative Return Before Fees & Expenses	Annual Fund Expense Ratios	Cumulative Return After Fees & Expenses	Hypothetical Year-End Balance After Fees & Expenses	Annual Fees & Expenses
1	5.00%	1.34%	3.66%	$10,366.00	$136.45
2	10.25%	1.64%	7.14%	$10,714.30	$172.86
3	15.76%	1.64%	10.74%	$11,074.30	$178.67
4	21.55%	1.64%	14.46%	$11,446.39	$184.67
5	27.63%	1.64%	18.31%	$11,830.99	$190.87
6	34.01%	1.64%	22.29%	$12,228.51	$197.29
7	40.71%	1.64%	26.39%	$12,639.39	$203.92
8	47.75%	1.64%	30.64%	$13,064.08	$210.77
9	55.13%	0.88%	36.02%	$13,602.32	$117.33
10	62.89%	0.88%	41.63%	$14,162.73	$122.17
Total					$1,715.00

DWS Short-Term Municipal Bond Fund - Institutional Class 

	Maximum Sales Charge: 0.00%	Initial Hypothetical Investment: $10,000		Assumed Rate of Return: 5%
Year	Cumulative Return Before Fees & Expenses	Annual Fund Expense Ratios	Cumulative Return After Fees & Expenses	Hypothetical Year-End Balance After Fees & Expenses	Annual Fees & Expenses
1	5.00%	0.34%	4.66%	$10,466.00	$34.79
2	10.25%	0.64%	9.22%	$10,922.32	$68.44
3	15.76%	0.64%	13.99%	$11,398.53	$71.43
4	21.55%	0.64%	18.96%	$11,895.51	$74.54
5	27.63%	0.64%	24.14%	$12,414.15	$77.79
6	34.01%	0.64%	29.55%	$12,955.41	$81.18
7	40.71%	0.64%	35.20%	$13,520.26	$84.72
8	47.75%	0.64%	41.10%	$14,109.75	$88.42
9	55.13%	0.64%	47.25%	$14,724.93	$92.27
10	62.89%	0.64%	53.67%	$15,366.94	$96.29
Total					$769.87

April 21, 2026

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DWS Short-Term Municipal Bond Fund - Class S 

	Maximum Sales Charge: 0.00%	Initial Hypothetical Investment: $10,000		Assumed Rate of Return: 5%
Year	Cumulative Return Before Fees & Expenses	Annual Fund Expense Ratios	Cumulative Return After Fees & Expenses	Hypothetical Year-End Balance After Fees & Expenses	Annual Fees & Expenses
1	5.00%	0.39%	4.61%	$10,461.00	$39.90
2	10.25%	0.65%	9.16%	$10,916.05	$69.48
3	15.76%	0.65%	13.91%	$11,390.90	$72.50
4	21.55%	0.65%	18.86%	$11,886.41	$75.65
5	27.63%	0.65%	24.03%	$12,403.46	$78.94
6	34.01%	0.65%	29.43%	$12,943.02	$82.38
7	40.71%	0.65%	35.06%	$13,506.04	$85.96
8	47.75%	0.65%	40.94%	$14,093.55	$89.70
9	55.13%	0.65%	47.07%	$14,706.62	$93.60
10	62.89%	0.65%	53.46%	$15,346.36	$97.67
Total					$785.78

Please Retain This Supplement for Future Reference

April 21, 2026

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