DAX vs FLEU

DAXBGlobal X DAX Germany ETF

FLEUAFranklin FTSE Eurozone ETF

In short

DAX Germany'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.

FLEU The euro bloc, straight up: no UK, no Swiss francs, no hedging overlay. Franklin charges 0.09% a year to track the FTSE Developed Eurozone Index, a fraction of the median fee among index funds in its peer group.

Stated mandate

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

FLEU The Fund uses a passive indexing approach and seeks to track, before fees and expenses, the FTSE Developed Eurozone Index.

Why people hold it

• DAX Charges 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%.
• One 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.
• Trading 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.

• FLEU 0.09% a year against a 0.45% median for index funds in its peer group. Cheap beta is the entire pitch, and Franklin delivers it.
• Roughly 300 stocks across developed eurozone markets, so the exposure reaches past the handful of household-name blue chips that dominate the region.
• A plain mandate with nowhere to hide: passively track the FTSE Developed Eurozone Index before fees. No factor tilts, no active overlay, no discretion.sec.gov
• Sits in the upper half of its index-wrapper peer group on the strength of that fee and a mandate it follows tightly.

Worth knowing

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

• FLEU Thinly traded. On smaller orders the bid-ask spread can cost more than a year of the 0.09% fee.
• It launched in 2017 as the Franklin FTSE Europe Hedged ETF and was renamed to the Eurozone strategy in 2023, so the early record reflects a different, hedged mandate.sec.gov
• Euro-currency countries only. The UK, Switzerland and the non-euro Nordics are out, and the euro's move against the dollar rides along unhedged.

Full DAX profile⁠

Full FLEU profile⁠