DAX


DAX Germany ETF

Reasons to Consider DAX

Growth Potential

Rebounding from the pandemic, Germany’s GDP grew at a rate exceeding 1.5% in 2022. While forecasts suggest a slight downturn of 0.29% in 2023, it is expected to continue annual rates of more than 1.5% growth in 2024-2026.1

Targeted Exposure

The ETF provides targeted exposure to Germany, the largest economy in Europe by GDP.

Efficient Access

DAX delivers efficient access to 40 of the largest and most liquid publicly traded companies in Germany, spanning a range of economic sectors.

1Statista, Nov 2022

Key Information As of 02/28/24

Inception Date 10/22/14
Total Expense Ratio 0.21%
Net Assets $53.16 million
NAV $31.83
Fact Sheet View the document

ETF Summary

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.

ETF Objective

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.

Trading Details As of 02/27/24

Ticker DAX
Bloomberg Index Ticker DAX
CUSIP 37954Y491
ISIN US37954Y4917
Primary Exchange Nasdaq
Shares Outstanding 1,670,000
Number of Holdings 41
30-Day Median Bid-Ask Spread 0.40%

Distributions As of 02/28/24

30-Day SEC Yield 2.98%
Distribution Frequency Semi-Annually

ETF Prices As of 02/28/24

NAV $31.83 Daily Change $0.04 0.13%
Market Price $31.92 Daily Change $0.10 0.31%

Performance History

As of recent
(12/31/23)
As of recent
(12/31/23)
Fund NAV Market Price Index
1 Year 23.59% 23.65% 24.53%
3 Years 2.62% 2.79% 3.12%
5 Years 8.28% 8.17% 8.92%
Since Inception 4.71% 4.68% 4.78%
1 Year 10.92% 8.89% 11.76%
3 Years 3.31% 3.00% 4.01%
5 Years 6.82% 6.62% 7.45%
Since Inception 4.57% 4.44% 4.65%
Year-to-Date 23.59% 23.65% 24.53%
1 Month 4.56% 4.32% 4.59%
3 Months 13.46% 13.92% 13.59%
Since Inception 52.67% 52.34% 53.61%
Year-to-Date -0.81% -1.78% -0.77%
1 Month -0.81% -1.78% -0.77%
3 Months 17.13% 15.54% 17.29%
Since Inception 51.43% 49.62% 52.42%

The Fund was re-organized effective December 24, 2018. Returns presented above reflect the performance of the predecessor Fund through December 21, 2018.

Performance is shown on a total return basis (i.e., with gross income reinvested, where applicable). Cumulative return is the aggregate amount that an investment has gained or lost over time. Annualized return is the average return gained or lost by an investment each year over a given time period.

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. High short-term performance, when observed, is unusual and investors should not expect such performance to be repeated.

Top Holdings As of 02/28/24

Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
10.90 SAP GR SAP SE 4846288 186.48 31,292 5,835,423.35
10.55 SIE GR SIEMENS AG-REG 5727973 194.87 28,993 5,649,830.96
7.59 ALV GR ALLIANZ SE-REG 5231485 269.29 15,081 4,061,174.19
7.02 AIR GR AIRBUS SE 4012346 166.59 22,548 3,756,289.93
5.92 DTE GR DEUTSCHE TELEKOM AG-REG 5842359 23.83 133,007 3,168,891.99
4.46 MUV2 GR MUENCHENER RUE-R 5294121 460.25 5,189 2,388,228.56
4.42 MBG GR MERCEDES-BENZ GROUP AG 5529027 79.53 29,745 2,365,471.62
3.37 IFX GR INFINEON TECHNOLOGIES AG 5889505 35.94 50,207 1,804,336.16
3.27 BAS GR BASF SE 5086577 50.89 34,375 1,749,326.91
3.13 DHL GR DHL GROUP 4617859 46.79 35,753 1,673,028.74
2.77 DB1 GR DEUTSCHE BOERSE AG 7021963 208.62 7,121 1,485,566.91
2.50 BMW GR BMW AG 5756029 118.27 11,327 1,339,633.92
2.44 ADS GR ADIDAS AG 4031976 205.68 6,349 1,305,872.46
2.19 BAYN GR BAYER AG-REG 5069211 30.94 37,826 1,170,459.34
2.02 VOW3 GR Volkswagen AG 5497168 136.38 7,934 1,082,073.20
1.92 DBK GR DEUTSCHE BANK-RG 5750355 13.43 76,650 1,029,440.94
1.83 EOAN GR E.ON SE 4942904 12.71 76,935 978,170.95
1.63 DTG GR DAIMLER TRUCK HOLDING AG BP6VLQ4 40.59 21,478 871,704.57
1.62 RWE GR RWE AG 4768962 33.36 26,031 868,376.88
1.60 MRK GR MERCK KGAA 4741844 172.11 4,972 855,708.90
1.43 RHM GR RHEINMETALL AG 5334588 456.56 1,680 767,028.54
1.39 VNA GR VONOVIA SE BBJPFY1 27.75 26,763 742,595.10
1.19 SHL GR SIEMENS HEALTHINEERS AG BD594Y4 59.46 10,754 639,428.29
1.10 HNR1 GR HANNOVER RUECK SE 4511809 254.29 2,322 590,449.85
1.05 BEI GR BEIERSDORF AG 5107401 149.19 3,782 564,239.10
0.93 SY1 GR SYMRISE AG B1JB4K8 102.60 4,867 499,366.08
0.92 MTX GR MTU AERO ENGINES AG B09DHL9 237.17 2,086 494,729.46
0.92 HEI GR HEIDELBERG MATERIALS AG 5120679 95.82 5,159 494,335.70
0.88 HEN3 GR HENKEL AG & CO KGAA 5076705 74.67 6,298 470,279.05
0.87 CBK GR COMMERZBANK AG B90LKT4 11.77 39,566 465,757.21
0.86 BNR GR BRENNTAG SE B4YVF56 90.75 5,042 457,559.12
0.84 FRE GR FRESENIUS SE & CO KGAA 4352097 28.16 16,045 451,807.79
0.75 P911 GR DR ING HC F PORSCHE AG BJN59B8 92.22 4,323 398,680.10
0.74 OTHER PAYABLE & RECEIVABLES 1.00 394,356 394,356.42
0.73 1COV GR COVESTRO AG BYTBWY9 53.55 7,292 390,521.53
0.71 DFWH4 Index DAX MINI FUTURE MAR24 95,532.95 4 382,131.79
0.69 QIA GR QIAGEN N.V. BMHCW17 43.12 8,565 369,316.21
0.66 SRT3 GR SRT3 5843329 374.22 948 354,763.05
0.63 CON GR CONTINENTAL AG 4598589 80.96 4,180 338,392.60
0.59 PAH3 GR PAH3 7101069 53.59 5,920 317,236.78
0.59 ENR GR SIEMENS ENERGY AG BMTVQK9 15.09 20,789 313,756.28
0.36 ZAL GR ZALANDO SE BQV0SV7 21.06 9,014 189,854.77
0.04 CASH 1.00 18,795 18,794.50
0.00 EURO 1.08 697 755.18
Holdings are subject to change. "Cash" denotes U.S. dollars.

Exposure As of 01/31/24

Sector Weight (%)
Industrials 25.6
Financials 19.2
Information Technology 14.6
Consumer Discretionary 13.3
Health Care 7.4
Communication Services 6.5
Materials 6.0
Utilities 3.9
Consumer Staples 2.1
Real Estate 1.6

Source: new windowAltaVista Research, LLC

Industry Weight (%)
Multi-Line Insurance 14.7
Packaged Software 12.1
Industrial Conglomerates 11.1
Motor Vehicles 10.0
Major Telecommunications 7.1
Electric Utilities 4.3
Semiconductors 4.0
Air Freight/Couriers 3.8
Chemicals: Major Diversified 3.6
Investment Banks/Brokers 3.1
Apparel/Footwear 2.6
Other 23.6

Source: new windowAltaVista Research, LLC

All Sector, Industry and Geographic breakdowns, where provided, are based on equity positions held by the ETF and exclude cash, currencies, and other holdings.

ETF Characteristics As of 02/27/24

Return on Equity 12.50%
Weighted Avg. Market Cap 83,753 M
2023 2024
Price-to-earnings 12.69 12.01
Price-to-book value 1.56 1.45

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 01/31/24

Versus Beta
S&P 500 1.09
NASDAQ-100 0.70
MSCI EAFE 1.29
MSCI Emg. Mkts 0.99
Standard Deviation 22.80%

Source: new windowAltaVista Research, LLC

Investing involves risk, including the possible loss of principal. International investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, or from economic or political instability in other nations. Securities focusing on a single country may be subject to higher volatility. DAX is non-diversified.

Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Beginning October 15, 2020, market price returns are based on the official closing price of an ETF share or, if the official closing price isn’t available, the midpoint between the national best bid and national best offer (“NBBO”) as of the time the ETF calculates current NAV per share. Prior to October 15, 2020, market price returns were based on the midpoint between the Bid and Ask price. NAVs are calculated using prices as of 4:00 PM Eastern Time. The returns shown do not represent the returns you would receive if you traded shares at other times. Indices are unmanaged and do not include the effect of fees, expenses or sales charges. One cannot invest directly in an index.

Carefully consider the Fund’s investment objectives, risks, and charges and expenses before investing. This and other information can be found in the Fund’s summary or full prospectuses. Please read the prospectus carefully before investing.

Global X Management Company LLC serves as an advisor to Global X Funds. The Funds are distributed by SEI Investments Distribution Co. (SIDCO), which is not affiliated with Global X Management Company LLC or Mirae Asset Global Investments. Global X Funds are not sponsored, endorsed, issued, sold or promoted by Deutsche Börse AG, nor does Deutsche Börse AG make any representations regarding the advisability of investing in the Global X Funds. Neither SIDCO, Global X nor Mirae Asset Global Investments are affiliated with Deutsche Börse AG.