Model Portfolios | Institutional | News | Contact

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 10/02/23

Inception Date 10/22/14
Total Expense Ratio 0.21%
Net Assets $48.37 million
NAV $26.87
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 10/02/23

Ticker DAX
Bloomberg Index Ticker DAX
CUSIP 37954Y491
ISIN US37954Y4917
Primary Exchange Nasdaq
Shares Outstanding 1,800,000
Number of Holdings 40
30-Day Median Bid-Ask Spread 0.40%

Distributions As of 10/02/23

30-Day SEC Yield 3.28%
Distribution Frequency Semi-Annually

ETF Prices As of 10/02/23

NAV $26.87 Daily Change -$0.48 -1.76%
Market Price $26.80 Daily Change -$0.38 -1.40%

Performance History

As of recent month & quarter-end (09/30/23)
As of recent month & quarter-end (09/30/23)
Fund NAV Market Price Index
1 Year 36.24% 36.92% 37.27%
3 Years 2.20% 1.91% 2.87%
5 Years 2.15% 2.10% 2.75%
Since Inception 3.37% 3.30% 3.43%
1 Year 36.24% 36.92% 37.27%
3 Years 2.20% 1.91% 2.87%
5 Years 2.15% 2.10% 2.75%
Since Inception 3.37% 3.30% 3.43%
Year-to-Date 8.92% 8.54% 9.63%
1 Month -5.85% -6.21% -5.88%
3 Months -7.54% -8.21% -7.53%
Since Inception 34.55% 33.73% 35.23%
Year-to-Date 8.92% 8.54% 9.63%
1 Month -5.85% -6.21% -5.88%
3 Months -7.54% -8.21% -7.53%
Since Inception 34.55% 33.73% 35.23%

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 10/02/23

Full Holdings (.csv)
Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
9.70 SAP GR SAP SE 4846288 128.97 36,389 4,692,964.40
8.97 SIE GR SIEMENS AG-REG 5727973 141.12 30,758 4,340,634.57
7.93 ALV GR ALLIANZ SE-REG 5231485 233.77 16,414 3,837,083.71
6.63 AIR GY AIRBUS SE 4012346 131.78 24,322 3,205,147.62
6.20 DTE GR DEUTSCHE TELEKOM AG-REG 5842359 20.92 143,453 3,000,519.06
4.64 MBG GR MERCEDES-BENZ GROUP AG 5529027 68.87 32,576 2,243,543.13
4.50 MUV2 GR MUENCHENER RUE-R 5294121 386.71 5,625 2,175,247.99
3.97 BAYN GR BAYER AG-REG 5069211 47.09 40,760 1,919,589.99
3.68 IFX GR INFINEON TECHNOLOGIES AG 5889505 32.97 54,000 1,780,444.02
3.36 BAS GR BASF SE 5086577 43.97 36,993 1,626,659.08
3.17 DHL GR DHL GROUP 4617859 39.86 38,465 1,533,310.63
2.67 DB1 GR DEUTSCHE BOERSE AG 7021963 168.79 7,653 1,291,767.60
2.56 BMW GR BMW AG 5756029 100.95 12,255 1,237,142.02
2.44 ADS GR ADIDAS AG 4031976 172.78 6,819 1,178,194.93
2.06 RWE GR RWE AG 4768962 35.73 27,940 998,349.45
2.01 VOW3 GR Volkswagen AG 5497168 114.42 8,511 973,808.85
1.95 EOAN GR E.ON SE 4942904 11.44 82,514 943,672.94
1.83 DBK GR DEUTSCHE BANK-RG 5750355 10.62 83,216 883,654.08
1.79 MRK GR MERCK KGAA 4741844 162.18 5,333 864,901.59
1.52 DTG GR DAIMLER TRUCK HOLDING AG BP6VLQ4 34.40 21,326 733,588.43
1.42 VNA GR VONOVIA SE BBJPFY1 23.95 28,634 685,905.51
1.19 SHL GR SIEMENS HEALTHINEERS AG BD594Y4 50.46 11,402 575,336.31
1.10 HNR1 GR HANNOVER RUECK SE 4511809 215.92 2,461 531,388.97
1.06 BEI GR BEIERSDORF AG 5107401 128.01 4,003 512,429.38
1.05 FRE GR FRESENIUS SE & CO KGAA 4352097 29.81 16,984 506,319.84
1.00 SY1 GR SYMRISE AG B1JB4K8 93.86 5,148 483,214.36
0.98 HEN3 GR HENKEL AG & CO KGAA 5076705 70.94 6,659 472,382.53
0.97 CBK GR COMMERZBANK AG B90LKT4 11.04 42,686 471,152.35
0.92 RHM GR RHEINMETALL AG 5334588 251.40 1,775 446,242.06
0.91 P911 GR DR ING HC F PORSCHE AG BJN59B8 94.01 4,661 438,187.33
0.87 HEI GR HEIDELBERG MATERIALS AG 5120679 76.02 5,562 422,820.60
0.86 BNR GR BRENNTAG SE B4YVF56 76.50 5,445 416,555.50
0.85 1COV GR COVESTRO AG BYTBWY9 53.26 7,702 410,223.57
0.81 MTX GR MTU AERO ENGINES AG B09DHL9 177.87 2,194 390,251.72
0.77 QIA GR QIAGEN N.V. BYXS699 40.06 9,284 371,886.25
0.72 OTHER PAYABLE & RECEIVABLES 1.00 345,604 345,604.03
0.68 SRT3 GR SRT3 5843329 329.19 998 328,528.63
0.64 CON GR CONTINENTAL AG 4598589 70.58 4,374 308,725.93
0.63 PAH3 GR PAH3 7101069 48.97 6,211 304,144.39
0.57 ENR GR SIEMENS ENERGY AG BMTVQK9 12.74 21,741 276,940.15
0.44 ZAL GR ZALANDO SE BQV0SV7 22.68 9,403 213,298.51
0.00 CASH 1.00 956 955.72
-0.01 EURO 1.05 -6,093 -6,395.42
Holdings are subject to change. "Cash" denotes U.S. dollars.

Exposure As of 09/30/23

Sector Weight (%)
Industrials 23.9
Financials 19.4
Consumer Discretionary 13.5
Information Technology 13.5
Health Care 9.7
Materials 6.2
Communication Services 6.2
Utilities 4.2
Consumer Staples 2.1
Real Estate 1.4

Source: new windowAltaVista Research, LLC

Industry Weight (%)
Multi-Line Insurance 15.0
Motor Vehicles 10.8
Packaged Software 10.6
Industrial Conglomerates 9.9
Major Telecommunications 6.8
Electric Utilities 4.5
Pharmaceuticals: Other 4.4
Semiconductors 4.0
Chemicals: Major Diversified 3.8
Air Freight/Couriers 3.5
Investment Banks/Brokers 3.0
Other/Cash 23.7

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 10/02/23

Return on Equity 12.60%
Weighted Avg. Market Cap 69,947 M
2022 2023
Price-to-earnings 10.82 10.87
Price-to-book value 1.40 1.35

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 09/30/23

Versus Beta
S&P 500 1.11
NASDAQ-100 0.73
MSCI EAFE 1.24
MSCI Emg. Mkts 0.95
Standard Deviation 24.00%

Source: new windowAltaVista Research, LLC

ETF Documents

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.