- Issuer
- DWS
- Inception Date
- Jan 1, 1989
- Category
- Foreign Large Cap Equities
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
GF Performance Chart
The New Germany Fund (GF) is down 0.6% since the beginning of the year. GF is currently trading at $11 per share. Investors who bought $1,000 worth of GF shares 5 years ago would now be looking at an investment worth $818.
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Compare this symbol against anything
Returns By Period
The New Germany Fund (GF) has returned -0.63% so far this year and 0.16% over the past 12 months. Over the last ten years, GF has returned 8.02% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.
The New Germany Fund
- 1D
- -1.06%
- 1M
- -3.20%
- 6M
- -4.96%
- YTD
- -0.63%
- 1Y
- 0.16%
- 3Y*
- 8.42%
- 5Y*
- -3.94%
- 10Y*
- 8.02%
- ALL TIME*
- 3.88%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
GF Monthly Returns History
Based on dividend-adjusted daily data since Jan 25, 1990, GF's average daily return is +0.03%, while the average monthly return is +0.61%. At this rate, an investment would double in approximately 9.5 years.
Historically, 54% of months were positive and 46% were negative. The best month was Dec 2008 with a return of +24.7%, while the worst month was Oct 2008 at -30.6%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 6 months.
On a daily basis, GF closed higher 48% of trading days. The best single day was Oct 13, 2008 with a return of +22.0%, while the worst single day was Nov 12, 1998 at -23.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 4.55% | 0.67% | -14.98% | 14.58% | 5.65% | -6.14% | -2.27% | -0.63% | |||||
| 2025 | 7.95% | 7.36% | 8.52% | 6.93% | 10.67% | 3.02% | -1.51% | -0.77% | -0.94% | -2.51% | -3.68% | 6.41% | 48.34% |
| 2024 | -4.69% | 1.32% | 3.20% | -4.02% | 4.23% | -6.39% | 3.63% | 1.66% | 4.20% | -5.26% | -3.90% | -3.47% | -9.96% |
| 2023 | 21.42% | -3.97% | -1.20% | -0.99% | -5.19% | 5.40% | 3.01% | -5.08% | -6.95% | -8.08% | 12.12% | 4.47% | 11.66% |
| 2022 | -9.32% | -10.50% | -4.91% | -9.89% | 2.47% | -13.78% | 0.18% | -7.81% | -10.65% | 6.47% | 10.80% | -3.37% | -42.21% |
| 2021 | 2.89% | 1.53% | -0.55% | 7.03% | 2.18% | -1.96% | 1.46% | 2.24% | -5.86% | 0.41% | -6.30% | 5.47% | 7.92% |
Benchmark Metrics
The New Germany Fund has an annualized alpha of -1.81%, beta of 0.92, and R2 of 0.37 versus S&P 500 Index. Calculated based on daily prices since January 25, 1990.
- This fund participated in 120.45% of S&P 500 Index downside but only 97.89% of its upside - more exposed to losses than it benefited from rallies.
- R2 of 0.37 means the benchmark explains less than half of this fund's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- -1.81%
- Beta
- 0.92
- R²
- 0.37
- Upside Capture
- 97.89%
- Downside Capture
- 120.45%
Expense Ratio
GF has an expense ratio of 0.01%, which is considered low.
Return for Risk
Risk / Return Rank
GF ranks 3 for risk / return — above 3% of mutual funds peers on PortfoliosLab. Its historical combined result is below most peers; review the five component ranks for context.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for The New Germany Fund (GF) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| GF | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.54 | ||
| Sortino ratioReturn per unit of downside risk | -2.01 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.25 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.13 | 2.00 | -2.14 |
| Martin ratioReturn relative to average drawdown | -0.37 | 8.49 | -8.86 |
Dividends
Dividend History
The New Germany Fund provided a 2.53% dividend yield over the last twelve months, with an annual payout of $0.28 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.28 | $0.15 | $0.07 | $0.07 | $0.77 | $5.85 | $2.46 | $0.52 | $3.65 | $0.74 | $1.18 | $1.23 |
Dividend yield | 2.53% | 1.30% | 0.92% | 0.80% | 9.74% | 39.51% | 12.92% | 3.29% | 31.23% | 3.82% | 9.05% | 8.37% |
Monthly Dividends
The table displays the monthly dividend distributions for The New Germany Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.15 | |||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.13 | $0.15 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.05 | $0.07 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.06 | $0.07 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.73 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.04 | $0.77 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.93 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $4.92 | $5.85 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the The New Germany Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the The New Germany Fund was 85.97%, occurring on Oct 9, 2002. Recovery took 1190 trading sessions.
The current The New Germany Fund drawdown is 21.10%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-85.97%Oct 2002 | 12y 8mo | 4y 8mo | 17y 5moJan 1990 - Jul 2007 | Dot-com crash2000–2002 |
-71.11%Mar 2009 | 1y 7mo | 2y 1mo | 3y 8moJul 2007 - Apr 2011 | Financial crisis2007–2009 |
-53.83%Oct 2022 | 1y 1mo | — | 4y 10moSep 2021 - now | Bear market2022 |
-40.75%Mar 2020 | 1mo 26d | 2mo 18d | 4mo 14dJan 2020 - Jun 2020 | COVID crash2020 |
-34.96%Dec 2011 | 7mo 20d | 1y 1mo | 1y 8moMay 2011 - Jan 2013 | — |
Drawdown Indicators
| GF | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.97% | -56.78% | -29.19% |
Max Drawdown (1Y)Largest decline over 1 year | -18.07% | -9.10% | -8.97% |
Max Drawdown (3Y)Largest decline over 3 years | -18.07% | -18.90% | +0.83% |
Max Drawdown (5Y)Largest decline over 5 years | -53.83% | -25.43% | -28.40% |
Max Drawdown (10Y)Largest decline over 10 years | -53.83% | -33.92% | -19.91% |
Current DrawdownCurrent decline from peak | -21.10% | -1.58% | -19.52% |
Average DrawdownAverage peak-to-trough decline | -33.87% | -10.70% | -23.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.52% | 2.14% | +4.38% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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