^DWCF vs. DAX

Last updated Apr 2, 2026

Compare and contrast key facts about Dow Jones U.S. Total Stock Market Index (^DWCF) and Global X DAX Germany ETF (DAX).

DAX is a passively managed fund by Global X that tracks the performance of the DAX Index. It was launched on Oct 22, 2014.

Performance

^DWCF vs. DAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dow Jones U.S. Total Stock Market Index (^DWCF) and Global X DAX Germany ETF (DAX). The values are adjusted to include any dividend payments, if applicable.

^DWCF vs. DAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
^DWCF Dow Jones U.S. Total Stock Market Index	-3.60%	15.59%	22.21%	24.06%	-20.80%	24.01%	18.72%	28.42%	-7.04%	18.89%
DAX Global X DAX Germany ETF	-6.25%	39.00%	10.55%	23.62%	-18.47%	7.73%	12.27%	22.11%	-22.92%	28.23%

Returns By Period

In the year-to-date period, ^DWCF achieves a -3.60% return, which is significantly higher than DAX's -6.25% return. Over the past 10 years, ^DWCF has outperformed DAX with an annualized return of 11.81%, while DAX has yielded a comparatively lower 8.48% annualized return.

^DWCF

• 1D: 0.71%
• 1M: -4.50%
• YTD: -3.60%
• 6M: -1.95%
• 1Y: 17.05%
• 3Y*: 16.52%
• 5Y*: 9.08%
• 10Y*: 11.81%

DAX

• 1D: 1.45%
• 1M: -6.35%
• YTD: -6.25%
• 6M: -5.30%
• 1Y: 10.17%
• 3Y*: 15.81%
• 5Y*: 7.90%
• 10Y*: 8.48%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

^DWCF vs. DAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

^DWCF

^DWCF Risk / Return Rank: 64
^DWCF Sharpe Ratio Rank: 62
^DWCF Sortino Ratio Rank: 63
^DWCF Omega Ratio Rank: 64
^DWCF Calmar Ratio Rank: 58
^DWCF Martin Ratio Rank: 75

DAX

DAX Risk / Return Rank: 28
DAX Sharpe Ratio Rank: 26
DAX Sortino Ratio Rank: 27
DAX Omega Ratio Rank: 26
DAX Calmar Ratio Rank: 30
DAX Martin Ratio Rank: 30

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

^DWCF vs. DAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dow Jones U.S. Total Stock Market Index (^DWCF) and Global X DAX Germany ETF (DAX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	^DWCF	DAX	Difference
Sharpe ratio Return per unit of total volatility	0.92	0.51	+0.41
Sortino ratio Return per unit of downside risk	1.41	0.85	+0.56
Omega ratio Gain probability vs. loss probability	1.21	1.11	+0.10
Calmar ratio Return relative to maximum drawdown	1.41	0.75	+0.66
Martin ratio Return relative to average drawdown	6.57	2.61	+3.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^DWCF vs. DAX - Sharpe Ratio Comparison

The current ^DWCF Sharpe Ratio is 0.92, which is higher than the DAX Sharpe Ratio of 0.51. The chart below compares the historical Sharpe Ratios of ^DWCF and DAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	^DWCF	DAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.92	0.51	+0.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.39	+0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	0.40	+0.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.33	+0.14

Correlation

The correlation between ^DWCF and DAX is 0.66, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Drawdowns

^DWCF vs. DAX - Drawdown Comparison

The maximum ^DWCF drawdown since its inception was -56.81%, which is greater than DAX's maximum drawdown of -45.58%. Use the drawdown chart below to compare losses from any high point for ^DWCF and DAX.

Drawdown Indicators

	^DWCF	DAX	Difference
Max Drawdown Largest peak-to-trough decline	-56.81%	-45.58%	-11.23%
Max Drawdown (1Y) Largest decline over 1 year	-12.44%	-14.82%	+2.38%
Max Drawdown (5Y) Largest decline over 5 years	-26.31%	-39.96%	+13.65%
Max Drawdown (10Y) Largest decline over 10 years	-35.14%	-45.58%	+10.44%
Current Drawdown Current decline from peak	-5.76%	-10.00%	+4.24%
Average Drawdown Average peak-to-trough decline	-10.34%	-10.58%	+0.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.67%	4.23%	-1.56%

Volatility

^DWCF vs. DAX - Volatility Comparison

The current volatility for Dow Jones U.S. Total Stock Market Index (^DWCF) is 5.52%, while Global X DAX Germany ETF (DAX) has a volatility of 8.46%. This indicates that ^DWCF experiences smaller price fluctuations and is considered to be less risky than DAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	^DWCF	DAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.52%	8.46%	-2.94%
Volatility (6M) Calculated over the trailing 6-month period	9.87%	12.77%	-2.90%
Volatility (1Y) Calculated over the trailing 1-year period	18.70%	20.20%	-1.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.41%	20.20%	-2.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.44%	21.21%	-2.77%