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^GDAXI vs. ^AEX
Performance
Return for Risk
Drawdowns
Volatility

^GDAXI vs. ^AEX

Last updated Jun 5, 2026

^GDAXI (DAX Performance Index) and ^AEX (AEX Index) are both indexes. Over the past 10 years, ^GDAXI returned 9.44%/yr vs 8.90%/yr for ^AEX. A 0.75 correlation means they provide meaningful diversification when combined.

Performance

^GDAXI vs. ^AEX - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in DAX Performance Index (^GDAXI) and AEX Index (^AEX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ^GDAXI achieves a 1.86% return, which is significantly lower than ^AEX's 10.04% return. Over the past 10 years, ^GDAXI has outperformed ^AEX with an annualized return of 9.44%, while ^AEX has yielded a comparatively lower 8.90% annualized return.

^GDAXI

1D
0.60%
1M
2.23%
YTD
1.86%
6M
4.45%
1Y
2.75%
3Y*
16.04%
5Y*
9.71%
10Y*
9.44%

^AEX

1D
0.27%
1M
3.19%
YTD
10.04%
6M
10.45%
1Y
13.29%
3Y*
11.10%
5Y*
7.77%
10Y*
8.90%
*Multi-year figures are annualized to reflect compound growth (CAGR)

^GDAXI vs. ^AEX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
^GDAXI
DAX Performance Index		1.86%23.01%18.85%20.31%-12.35%15.79%3.55%25.48%-18.26%12.51%
^AEX
AEX Index		10.04%8.27%11.67%14.20%-13.65%27.75%3.31%23.92%-10.41%12.71%

Correlation

The correlation between ^GDAXI and ^AEX is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.69

Correlation (3Y)
Calculated over the trailing 3-year period

0.74

Correlation (5Y)
Calculated over the trailing 5-year period

0.79

Correlation (10Y)
Calculated over the trailing 10-year period

0.81

Correlation (All Time)
Calculated using the full available price history since Jan 4, 1983

0.75

The correlation between ^GDAXI and ^AEX shifts across timeframes, from 0.69 (1 year) to 0.81 (10 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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DAX Performance Index

AEX Index

Often compared with ^GDAXI:
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Often compared with ^AEX:
^AEX vs. ASML^AEX vs. ^AMX^AEX vs. VOO^AEX vs. ADYEN.AS^AEX vs. ^FCHI^AEX vs. AFLYY^AEX vs. ABN.AS

Return for Risk

^GDAXI vs. ^AEX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
^GDAXI
^GDAXI Risk / Return Rank: 2020
Overall Rank
^GDAXI Sharpe Ratio Rank: 2020
Sharpe Ratio Rank
^GDAXI Sortino Ratio Rank: 1818
Sortino Ratio Rank
^GDAXI Omega Ratio Rank: 1818
Omega Ratio Rank
^GDAXI Calmar Ratio Rank: 2020
Calmar Ratio Rank
^GDAXI Martin Ratio Rank: 2323
Martin Ratio Rank
^AEX
^AEX Risk / Return Rank: 4444
Overall Rank
^AEX Sharpe Ratio Rank: 4242
Sharpe Ratio Rank
^AEX Sortino Ratio Rank: 4141
Sortino Ratio Rank
^AEX Omega Ratio Rank: 4242
Omega Ratio Rank
^AEX Calmar Ratio Rank: 5050
Calmar Ratio Rank
^AEX Martin Ratio Rank: 4444
Martin Ratio Rank
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.

^GDAXI vs. ^AEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DAX Performance Index (^GDAXI) and AEX Index (^AEX). 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.

^GDAXI^AEXDifference
Sharpe ratioReturn per unit of total volatility
0.17
0.99

-0.82

Sortino ratioReturn per unit of downside risk
0.36
1.45

-1.08

Omega ratioGain probability vs. loss probability

1.04

1.18

-0.13

Calmar ratioReturn relative to maximum drawdown

0.22

1.92

-1.70

Martin ratioReturn relative to average drawdown

0.70

4.50

-3.79

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^GDAXI vs. ^AEX - Sharpe Ratio Comparison

The current ^GDAXI Sharpe Ratio is 0.17, which is lower than the ^AEX Sharpe Ratio of 0.99. The chart below compares the historical Sharpe Ratios of ^GDAXI and ^AEX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

^GDAXI^AEXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.17

0.99

-0.82

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.56

0.50

+0.07

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.51

0.54

-0.03

Sharpe Ratio (All Time)

Calculated using the full available price history

0.42

0.37

+0.05

Drawdowns

^GDAXI vs. ^AEX - Drawdown Comparison

The maximum ^GDAXI drawdown since its inception was -72.68%, roughly equal to the maximum ^AEX drawdown of -71.60%. Use the drawdown chart below to compare losses from any high point for ^GDAXI and ^AEX.

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Drawdown Indicators

^GDAXI^AEXDifference

Max Drawdown

Largest peak-to-trough decline

-72.68%

-71.60%

-1.08%

Max Drawdown (1Y)

Largest decline over 1 year

-12.27%

-6.82%

-5.45%

Max Drawdown (3Y)

Largest decline over 3 years

-16.01%

-16.03%

+0.02%

Max Drawdown (5Y)

Largest decline over 5 years

-26.40%

-23.80%

-2.60%

Max Drawdown (10Y)

Largest decline over 10 years

-38.78%

-35.78%

-3.00%

Current Drawdown

Current decline from peak

-1.87%

-0.61%

-1.26%

Average Drawdown

Average peak-to-trough decline

-14.71%

-22.61%

+7.90%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.92%

2.94%

+0.98%

Volatility

^GDAXI vs. ^AEX - Volatility Comparison

DAX Performance Index (^GDAXI) has a higher volatility of 5.14% compared to AEX Index (^AEX) at 3.91%. This indicates that ^GDAXI's price experiences larger fluctuations and is considered to be riskier than ^AEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

^GDAXI^AEXDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.14%

3.91%

+1.23%

Volatility (6M)

Calculated over the trailing 6-month period

12.92%

10.64%

+2.28%

Volatility (1Y)

Calculated over the trailing 1-year period

15.99%

13.28%

+2.71%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.03%

15.41%

+1.62%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.35%

16.22%

+2.13%

Frequently Asked Questions

^GDAXI and ^AEX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

^GDAXI has higher volatility (5.14%) compared to ^AEX (3.91%). In terms of maximum drawdown, ^GDAXI dropped -72.68% vs ^AEX's -71.60%.

^AEX currently has the higher Sharpe Ratio (0.99 vs 0.17), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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