Thought LeadershipInternationalTargeted Exposure
Why Germany? Why DAX?
Following a recent political shift, the large and diverse German economy may be better positioned for sustainable growth.
T
Trevor Yates
Mar 7, 20250 min read
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SEI Investments Distribution Co. (1 Freedom Valley Drive, Oaks, PA, 19456) is the distributor for the Global X Funds.
Check the background of SIDCO and Global X's Registered Representatives on FINRA's BrokerCheck.
DAX Germany ETF
ARGT invests in among the largest and most liquid securities with exposure to Argentina, offering retail investors a convenient way to gain targeted exposure to Argentina's equity market and its largest companies within a single, cost-efficient ETF.
COLO invests in among the largest and most liquid Colombian securities, offering retail investors a convenient way to gain targeted exposure to Colombia's equity market and its companies within a single, cost-efficient ETF.
NDIA is an actively managed ETF designed to offer investors direct exposure to the Indian economy, screening for companies with quality business models and management teams and focusing on domestic-driven growth over a 4–5 year investing horizon.
DAX can complement broad international allocations with concentrated single-country exposure to Germany, the largest economy in the Eurozone. The fund offers access to large, export-oriented multinationals spanning the industrial, manufacturing, financial, and technology industries, positioning portfolios to potentially capture tailwinds from recent structural energy, tax, and fiscal reforms.
As Germany's economic outlook stabilizes and structural reforms take hold, DAX provides a transparent vehicle to express a constructive view on Europe's industrial core.
Companies in the DAX Index rely heavily on export markets and could see potential near-term tailwinds from a resilient U.S. economy and euro weakness.
The ETF provides targeted exposure to Germany, the largest economy in Europe by GDP.
DAX delivers efficient access to 40 of the largest and most liquid publicly traded companies in Germany, spanning a range of economic sectors.
Why Germany? Why DAX?
Following a recent political shift, the large and diverse German economy may be better positioned for sustainable growth.
Trevor Yates
The financial statements include the Fund's disclosures required by Items 7 through 11 of Form N-CSR, which includes the financial statements, financial highlights, and other important information when applicable.
The financial statements include the Fund's disclosures required by Items 7 through 11 of Form N-CSR, which includes the financial statements, financial highlights, and other important information when applicable.
As of Oct 23, 2026
Net Assets (%) | Ticker | Name | SEDOL | Market Price ($) | Shares Held | Market Value ($) |
|---|---|---|---|---|---|---|
| 12.41% | SAP GR | SAP SE | 4846288 | $240.21 | 106,258 | $25,524,587 |
| 10.85% | SIE GR | SIEMENS AG-REG | 5727973 | $287.72 | 77,588 | $22,323,480 |
| 9.37% | ALV GR |
Holdings are subject to change. "Cash" denotes U.S. dollars.
Oct 23, 2026
30-Day SEC Yield
2.35%
Distribution Frequency
Semi-Annually
Record Date | Payable Date | Amount | |
|---|---|---|---|
| Dec 30, 2026 | Dec 30, 2026 | Jan 7, 2027 | - |
| Jun 29, 2026 | Jun 29, 2026 | Jul 7, 2026 | $0.86 |
Metric | 1 Year | 3 Year | 5 Year | 10 Year | Since Inception |
|---|---|---|---|---|---|
Fund NAV | +1.42% | +19.91% | +9.39% | +8.59% | +7.30% |
Market Price | +0.43% | +19.83% | +9.25% | +8.50% | +7.22% |
Index | +2.01% | +20.67% | +10.11% | +9.25% | +7.34% |
As of Oct 23, 2026
As of Oct 23, 2026
As of Oct 23, 2026
As of Oct 23, 2026
As of Sep 30, 2026
| Sector | Weight (%) |
|---|---|
Industrials | 34.84% |
Financials | 21.19% |
Information Technology | 15.58% |
Health Care | 6.38% |
Consumer Discretionary | 5.72% |
Communication Services | 5.32% |
Utilities | 4.61% |
Materials | 4.36% |
Consumer Staples | 1.01% |
Real Estate | 0.98% |
Other | 0.01% |
| Sector | Weight (%) |
|---|---|
Industrials | 34.84% |
Financials | 21.19% |
Information Technology | 15.58% |
Health Care | 6.38% |
Consumer Discretionary | 5.72% |
Source: AltaVista Research, LLC
All Sector, Industry, Commodity and Geographic breakdowns, where provided, are based on equity positions held by the ETF and exclude cash, currencies, and other holdings.
As of Sep 30, 2026
The Global X DAX Germany ETF (DAX) is the only U.S. listed ETF that seeks to track the premiere German DAX Index, comprised of the 40 largest and most liquid companies admitted to the FWB (Frankfurt Stock Exchange).
The Global X DAX Germany ETF (DAX) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the DAX Index.
The Index is designed to track the performance of the 40 largest and most liquid companies listed on the Frankfurt Stock Exchange. Fund-eligible companies must maintain their legal or operating headquarters in Germany. Within the index, constituents are selected and weighted by free float market capitalization, along with profitability and trading liquidity criteria, with the Index including the top 40 such companies.
Highlights
As of Oct 23, 2026
As of Oct 23, 2026
| ALLIANZ SE-REG |
| 5231485 |
| $479.42 |
| 40,214 |
| $19,279,327 |
| 6.52% | AIR GR | AIRBUS SE | 4012346 | $215.54 | 62,203 | $13,407,369 |
| 5.88% | ENR GR | SIEMENS ENERGY AG | BMTVQK9 | $132.97 | 91,023 | $12,103,222 |
| 5.05% | DTE GR | DEUTSCHE TELEKOM AG-REG | 5842359 | $28.40 | 366,095 | $10,397,863 |
| 4.07% | MUV2 GR | MUENCHENER RUECKVER AG-REG | 5294121 | $623.61 | 13,418 | $8,367,646 |
| 3.66% | IFX GR | INFINEON TECHNOLOGIES AG | 5889505 | $54.53 | 138,051 | $7,527,889 |
| 3.37% | DB1 GR | DEUTSCHE BOERSE AG | 7021963 | $351.92 | 19,695 | $6,931,005 |
| 3.12% | DHL GR | DHL AG | 4617859 | $64.18 | 100,011 | $6,418,345 |
What is Premium/Discount Chart?
The Premium/Discount chart demonstrates the difference between the daily market price of shares of the Fund and the Fund's net asset value (NAV). The vertical axis of the chart shows the premium or discount of the daily market price as a percentage of the NAV. The horizontal axis shows each trading day in the time period, and each data point in the chart represents the Premium/Discount on that day. The data presented in the chart and table above represent past performance and cannot be used to predict future results.
How can the Fund trade at a premium/discount to its NAV?
The primary explanation is that timing discrepancies can arise between the NAV and the trading price of the Fund. Since shares of the Fund trade on the open market, prices are affected by the constant flow of information received by investors, corporations and financial institutions. Depending on how this changing information affects investor sentiment, shares of the Fund may deviate slightly from the value of the Fund's underlying assets. The NAV of the Fund is only calculated once a day (normally at 4:00 p.m. eastern time). As a result, shareholders may pay more than NAV when they buy Fund shares and receive less than NAV when they sell those shares, because shares are purchased and sold at current market prices. However, due to the creation and redemption process that is unique to ETFs, market makers are able to minimize these deviations from NAV by taking advantage of arbitrage opportunities.
What causes these time discrepancies?
Close of Trading Times. Although both the NAV and the daily market price of the Fund are generally calculated based on prices at the closing time of the exchange (generally 4:00 p.m. eastern time), slight differences in this timing may cause discrepancies.
Time of Last Trade. Trading of Global X funds generally takes place during normal trading hours (9:30 a.m. to 4:00 p.m. eastern time). However, it is important to note that the last trade - from which the closing price is determined - may not occur at exactly 4:00 p.m. eastern time. Therefore, changing market sentiment during the time difference may cause the NAV to deviate from the closing price.
International Holdings. The premiums and discounts for funds with significant holdings in international markets may be less accurate due to the different closing times of various international markets. Because the Funds trade during U.S. market hours while the underlying securities may not, the time lapse between the markets can result in differences between the NAV and the trading price.
Communication Services | 5.32% |
|---|
Utilities | 4.61% |
|---|
Materials | 4.36% |
|---|
Consumer Staples | 1.01% |
|---|
Real Estate | 0.98% |
|---|
Other | 0.01% |
|---|
| Industry | Weight (%) |
|---|---|
Capital Goods | 31.48% |
Insurance | 13.83% |
Software & Services | 10.73% |
Telecommunication Services | 5.34% |
Semiconductors & Semiconductor Equipment | 4.90% |
Utilities | 4.63% |
Materials | 4.38% |
Banks | 4.34% |
Pharmaceuticals, Biotechnology & Life Sciences | 4.08% |
Automobiles & Components | 3.95% |
Financial Services | 3.11% |
Transportation | 3.11% |
As of Oct 23, 2026
Source: AltaVista Research, LLC