ARGT vs. DAX

Last updated Jun 14, 2026

ARGT (Global X MSCI Argentina ETF) and DAX (Global X DAX Germany ETF) are both exchange-traded funds - ARGT is a Latin America Equities fund tracking the MSCI All Argentina 25/50, while DAX is a Europe Equities fund tracking the DAX Index. Both are passively managed. Over the past 10 years, ARGT returned 17.70%/yr vs 9.57%/yr for DAX. At a 0.49 correlation, their price movements are largely independent. ARGT charges 0.60%/yr vs 0.20%/yr for DAX.

Performance

ARGT vs. DAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X MSCI Argentina ETF (ARGT) and Global X DAX Germany ETF (DAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARGT achieves a 7.11% return, which is significantly higher than DAX's -1.45% return. Over the past 10 years, ARGT has outperformed DAX with an annualized return of 17.70%, while DAX has yielded a comparatively lower 9.57% annualized return.

ARGT

• 1D: -0.06%
• 1M: 9.42%
• YTD: 7.11%
• 6M: 9.09%
• 1Y: 14.29%
• 3Y*: 33.30%
• 5Y*: 27.23%
• 10Y*: 17.70%

DAX

• 1D: 0.26%
• 1M: 0.31%
• YTD: -1.45%
• 6M: -0.46%
• 1Y: 4.51%
• 3Y*: 16.82%
• 5Y*: 7.62%
• 10Y*: 9.57%

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

ARGT vs. DAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ARGT Global X MSCI Argentina ETF	7.11%	11.51%	63.46%	53.64%	11.80%	3.83%	14.58%	14.50%	-32.62%	53.87%
DAX Global X DAX Germany ETF	-1.45%	39.00%	10.55%	23.62%	-18.47%	7.73%	12.27%	22.11%	-22.92%	28.23%

Correlation

The correlation between ARGT and DAX is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (10Y) Calculated over the trailing 10-year period	0.49
Correlation (All Time) Calculated using the full available price history since Oct 23, 2014	0.49

ARGT vs. DAX - Sectors Allocation Comparison

Sectors	ARGT	DAX
Consumer Cyclical	23.4%	7.3%
Energy	22.5%	-
Financial Services	16.0%	20.0%
Basic Materials	13.1%	5.0%
Industrials	8.2%	34.1%
Consumer Defensive	6.7%	1.0%
Utilities	5.3%	4.5%
Communication Services	3.4%	6.2%
Real Estate	1.4%	0.9%
Healthcare	-	5.5%
Technology	-	15.4%

Return for Risk

ARGT vs. DAX — Risk / Return Rank

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

ARGT

ARGT Risk / Return Rank: 17
ARGT Sharpe Ratio Rank: 15
ARGT Sortino Ratio Rank: 17
ARGT Omega Ratio Rank: 17
ARGT Calmar Ratio Rank: 17
ARGT Martin Ratio Rank: 16

DAX

DAX Risk / Return Rank: 12
DAX Sharpe Ratio Rank: 12
DAX Sortino Ratio Rank: 11
DAX Omega Ratio Rank: 11
DAX Calmar Ratio Rank: 12
DAX Martin Ratio Rank: 12

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.

ARGT vs. DAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MSCI Argentina ETF (ARGT) 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.

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.

	ARGT	DAX	Difference
Sharpe ratio: Return per unit of total volatility	0.34	0.15	+0.19
Sortino ratio: Return per unit of downside risk	0.83	0.34	+0.48
Omega ratio: Gain probability vs. loss probability	1.10	1.04	+0.06
Calmar ratio: Return relative to maximum drawdown	0.57	0.19	+0.38
Martin ratio: Return relative to average drawdown	1.25	0.58	+0.67

ARGT vs. DAX - Sharpe Ratio Comparison

The current ARGT Sharpe Ratio is 0.34, which is higher than the DAX Sharpe Ratio of 0.15. The chart below compares the historical Sharpe Ratios of ARGT and DAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ARGT vs. DAX - Drawdown Comparison

The maximum ARGT drawdown since its inception was -61.68%, which is greater than DAX's maximum drawdown of -45.58%. Use the drawdown chart below to compare losses from any high point for ARGT and DAX.

Drawdown Indicators

	ARGT	DAX	Difference
Max Drawdown Largest peak-to-trough decline	-61.68%	-45.58%	-16.10%
Max Drawdown (1Y) Largest decline over 1 year	-22.25%	-14.82%	-7.43%
Max Drawdown (3Y) Largest decline over 3 years	-28.46%	-16.03%	-12.43%
Max Drawdown (5Y) Largest decline over 5 years	-35.14%	-39.72%	+4.58%
Max Drawdown (10Y) Largest decline over 10 years	-61.68%	-45.58%	-16.10%
Current Drawdown Current decline from peak	-4.89%	-5.39%	+0.50%
Average Drawdown Average peak-to-trough decline	-22.02%	-10.49%	-11.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.34%	4.77%	+5.57%

Volatility

ARGT vs. DAX - Volatility Comparison

Global X MSCI Argentina ETF (ARGT) has a higher volatility of 11.28% compared to Global X DAX Germany ETF (DAX) at 5.86%. This indicates that ARGT's price experiences larger fluctuations and is considered to be riskier than DAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARGT	DAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.28%	5.86%	+5.42%
Volatility (6M) Calculated over the trailing 6-month period	21.26%	14.79%	+6.47%
Volatility (1Y) Calculated over the trailing 1-year period	37.19%	18.01%	+19.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.06%	20.44%	+11.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.50%	21.25%	+10.25%

ARGT vs. DAX - Expense Ratio Comparison

ARGT has a 0.60% expense ratio, which is higher than DAX's 0.20% expense ratio.

Dividends

ARGT vs. DAX - Dividend Comparison

ARGT's dividend yield for the trailing twelve months is around 0.79%, less than DAX's 1.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARGT Global X MSCI Argentina ETF	0.79%	0.84%	1.41%	1.59%	2.45%	0.93%	0.28%	1.21%	1.34%	0.49%	0.36%	0.89%
DAX Global X DAX Germany ETF	1.50%	1.47%	2.24%	2.48%	2.80%	2.65%	2.25%	2.47%	3.33%	1.73%	1.78%	1.41%

Frequently Asked Questions

Can I hold both ARGT and DAX in my portfolio?

ARGT and DAX have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARGT or DAX?

ARGT has higher volatility (11.28%) compared to DAX (5.86%). In terms of maximum drawdown, ARGT dropped -61.68% vs DAX's -45.58%.

Which ETF is better, ARGT or DAX?

On 10-year performance, ARGT leads with 17.70% vs 9.57% for DAX. On fees, DAX is cheaper at 0.20% per year. On volatility, DAX has been the lower-risk option at 5.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ARGT or DAX?

Over the 10-year period, ARGT has performed better with a 17.70% return vs 9.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ARGT or DAX?

DAX is cheaper with a 0.20% expense ratio, compared with 0.60% for ARGT.

Which ETF pays a higher dividend yield, ARGT or DAX?

DAX has the higher dividend yield at 1.50%, compared with 0.79% for ARGT.

What is the main difference between ARGT and DAX?

ARGT is categorized as Latin America Equities, while DAX is Europe Equities. ARGT tracks MSCI All Argentina 25/50, while DAX tracks DAX Index. Their fees differ too: 0.60% for ARGT and 0.20% for DAX.

Which has better risk-adjusted returns?

ARGT currently has the higher Sharpe Ratio (0.34 vs 0.15), 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.