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DAX

GradeBNASDAQ Global Market

Global X - DAX Germany ETF

Countries & Regions · Global X · Inception 2014-10-22 · SEC filings

$44.73−0.80 (−1.75%)

As of Sep 23, 2026, 2:16 PM EDT

Intraday session: down, 37 prints from 45.53 to 44.73. Range 44.52 to 44.98. Use the arrow keys to read each point.$44.60$44.80$45.0010 AM12 PM2 PM4 PM
Expense ratio
0.20%
Fund size
$219M
1Y return
+5.0%
Yield · Last 12 months
2.07%
Holdings
41
Volume · 30D
0M sh
NAV per share
$45.37
52W range
low $40.35high $47.92

The ETF.net DAX Grade

B

64/ 100

Rank 7 of 12 in Europe Region⁠

Confidence High

Six-pillar profile for DAX. Scores out of 100: Cost 81, Risk 40, Mission 96, Tradability 28, Holdings 38, Durability 36. Strongest: Mission (96). Weakest: Tradability (28). Leans toward Mission.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 64 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    AScore 81
    Category rank3/12 · top 25%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 96
    Category rank6/11 · mid-pack

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 40
    Category rank9/12 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 28
    Category rank11/12 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 38
    Category rank10/12 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 36
    Category rank10/12 · bottom quartile

Graded as of Sep 22, 2026

Our read on DAX

ETF.net Research

BGermany's headline blue-chip benchmark in a US wrapper. Roughly 40 of the country's largest listed companies, tracked by an index fund that charges 0.20% a year, well under half the typical fee for a single-country Europe ETF.

Stated mandate

The fund seeks to track the price and yield performance of the DAX Index before fees and expenses.

Why people hold it

  1. 01Charges 0.20% a year while the typical European single-country ETF costs more than double that. Peers like EWL and EWD sit near 0.50%.
  2. 02One index, roughly 40 names, no overlay or hedging gimmick. Its tracking of the DAX Index is among the tightest in its European single-country peer group.
  3. 03Trading since 2014, so it brings a decade-plus live record rather than a recent launch, and it is one of the stronger builds in its cohort.

Worth knowing

  1. 01Focus cuts both ways. Roughly 40 companies in one economy means a handful of German large caps carry the whole portfolio.
  2. 02Thinly traded with a modest asset base, so spreads and limit orders matter more here than in a mega-cap Europe fund.
  3. 03Distributions land once or twice a year, not quarterly or monthly, so cash flow arrives in lumps.

DAX Holdings

As of Sep 21, 2026, 6:06 PM
Asset class
Stocks
Holdings
41
Top-10 weight
65%
Largest holding
SIE.DE11.1%

Sectors

  • Industrials33.8%
  • Financials21.8%
  • Technology14.9%
  • Health Care6.4%
  • Consumer Discr.6.2%
  • Communication5.8%
  • Materials4.9%
  • Utilities4.3%
  • Cons. Staples1.0%
  • Real Estate0.8%

Geography

  • Germany92.95%
  • Netherlands7.05%

Developed 100% · Emerging 0% of the foreign sleeve

The fund’s holdings, weight-ordered — page 1 of 3.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001SIE.DESIEMENS AG-REG11.10%79,746$24M152
002SAP.DESAP SE10.54%109,209$23M163
003ALV.DEALLIANZ SE-REG9.66%41,332$21M158
004ENR.DESIEMENS ENERGY AG6.92%93,558$15M165
005AIR.DEAIRBUS SE6.52%63,932$14M1
006DTE.DEDEUTSCHE TELEKOM AG-REG5.38%376,274$12M151
007IFX.DEINFINEON TECHNOLOGIES AG4.18%141,886$9M170
008MUV2.DEMUENCHENER RUECKVER AG-REG3.68%13,795$8M143
009DBK.DEDEUTSCHE BANK AG-REGISTERED3.62%207,582$8M117
010DHL.DEDHL AG3.03%102,793$7M144
011DB1.DEDEUTSCHE BOERSE AG2.97%20,241$6M140
012RHM.DERHEINMETALL AG2.71%5,084$6M125
013BAYN.DEBAYER AG-REG2.71%106,739$6M133
014BAS.DEBASF SE2.64%96,971$6M112
015RWE.DERWE AG2.43%76,380$5M131

Showing 1–15 of 43 holdings

DAX Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

DAX$10,502
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. DAX $10,502. SPY $11,723. Use the arrow keys to read each point.$8,997$10,482$11,966Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for DAX. Periods over one year show the average yearly return.
PeriodDAX
Year to date+1.7%
1 month−3.6%
3 months+2.5%
1 year+5.0%
3 years+20.4%per year
5 years+9.4%per year
10 years+8.7%per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for DAX
YearReturn barDAX
2026 YTD+1.7%
2025+39.0%
2024+10.5%
2023+23.6%
2022−18.5%
2021+7.7%
2020+12.3%

DAX in the news

ETF.net Research hasn’t filed on DAX yet — coverage lands here as it’s written.

DAX Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
2.07%Last 12 months
Payout per share
$0.94Last 12 months
Last payment
$0.86 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Twice a year

Distribution history

2017–2026

One bar per payment. 18 payments from 2017 to 2026 YTD. Jun 21, 2017 $0.55; Jun 20, 2018 $0.35; Dec 28, 2018 $0.44; Jun 27, 2019 $0.69; Dec 30, 2019 $0.003; Jun 29, 2020 $0.29; Dec 30, 2020 $0.40; Jun 29, 2021 $0.52; Dec 30, 2021 $0.33; Jun 29, 2022 $0.61; Dec 29, 2022 $0.11; Jun 29, 2023 $0.65; Dec 28, 2023 $0.11; Jun 27, 2024 $0.66; Dec 30, 2024 $0.09; Jun 27, 2025 $0.59; Dec 30, 2025 $0.08; Jun 29, 2026 $0.86. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Jun 29, 2026Jul 7, 2026$0.86
Dec 30, 2025Jan 7, 2026$0.08
Jun 27, 2025Jul 7, 2025$0.59
Dec 30, 2024Jan 7, 2025$0.09
Jun 27, 2024Jul 5, 2024$0.66
Dec 28, 2023Jan 8, 2024$0.11
Jun 29, 2023Jul 10, 2023$0.65
Dec 29, 2022Jan 9, 2023$0.11
Jun 29, 2022Jul 8, 2022$0.61
Dec 30, 2021Jan 7, 2022$0.33
Jun 29, 2021Jul 8, 2021$0.52
Dec 30, 2020Jan 8, 2021$0.40

DAX Risk

How much the fund’s monthly returns vary, scaled to a year.
15.9%
Annualised · 36 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.95
vs 3-month T-bills · to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−38.1%
Trough Sep 2022
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.06
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

DAX Cost

Expense ratio0.20%
  • The middle half of Europe Region funds
  • Median 0.51%

2 of the 12 Europe Region funds charge less.

DAX costs $20.00 a year on $10,000. The median Europe Region fund costs $50.50.