Germany

DAX

The DAX (Deutscher Aktienindex) is the benchmark index for the German equity market. In 2021, it expanded from 30 to 40 companies to provide a broader representation of the German economy.

Performance vs. Price Index

A unique feature of the DAX is that it is primarily calculated as a Performance Index. This means dividends are reinvested into the index calculation, unlike the S&P 500 or FTSE 100 which are usually cited as price indices.

Industrial Strength

The DAX is heavily weighted towards Industrials, Automotive, and Chemicals. Giants like Siemens, SAP, Allianz, and Mercedes-Benz dominate the index, reflecting Germany's status as a global industrial powerhouse.

Global Exposure

Despite being a German index, the companies in the DAX generate the majority of their revenue abroad. Investing in the DAX is more an investment in "Global German Industry" than in the local German consumer economy.

Context

Because the DAX includes dividends, you shouldn't compare its chart directly to the S&P 500 without adjusting for reinvestment. The "DAX Kursindex" is the better comparison for price-only movements.

Publisher: Stefan Pilz Ltd. (see imprint). General information, not investment advice. The documents of the index provider and the fund companies are authoritative.

Key facts

Index provider
STOXX (Qontigo / Deutsche Börse Group)
Official index page and methodology
Funds in our database
11
Benchmark names in the fund master data
  • DAX®
Funds may track different variants of the same index, e.g. a net total return or price index. The prospectus and key information document (KID) of each fund are authoritative.

Funds in our database

Active funds whose benchmark, according to the fund master data, is assigned to this index. The list is incomplete, sorted alphabetically and not a recommendation to buy.

Name Provider Benchmark (master data) TER Distribution policy
Amundi Core DAX UCITS ETF Acc
LU3206583067 		Amundi ETF DAX® 0.08% Accumulating View
Amundi Core DAX UCITS ETF Dist
LU2611732046 		Amundi ETF DAX® 0.08% Distributing View
Amundi DAX II UCITS ETF Acc
LU0252633754 		Amundi ETF DAX® 0.15% Accumulating View
Amundi DAX II UCITS ETF Dist
LU2090062436 		Amundi ETF DAX® 0.15% Distributing View
Amundi ETF DAX UCITS ETF DR
FR0010655712 		Amundi ETF DAX® 0.10% Accumulating View
Deka DAX (ausschüttend) UCITS ETF
DE000ETFL060 		Deka ETFs DAX® 0.15% Distributing View
Deka DAX UCITS ETF
DE000ETFL011 		Deka ETFs DAX® 0.15% Accumulating View
iShares Core DAX® UCITS ETF (DE) EUR (Acc)
DE0005933931 		iShares DAX® 0.16% Accumulating View
iShares Core DAX® UCITS ETF (DE) EUR (Dist)
DE000A2QP331 		iShares DAX® 0.16% Distributing View
Xtrackers DAX UCITS ETF 1C
LU0274211480 		Xtrackers DAX® 0.09% Accumulating View
Xtrackers DAX UCITS ETF 1D
LU1349386927 		Xtrackers DAX® 0.09% Distributing View

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