DAX vs. ^DWCF
DAX (Global X DAX Germany ETF) is Europe Equities fund tracking the DAX Index, while ^DWCF (Dow Jones U.S. Total Stock Market Index) is an index. Over the past 10 years, DAX returned 8.97%/yr vs 13.26%/yr for ^DWCF. A 0.66 correlation means they provide meaningful diversification when combined.
Performance
DAX vs. ^DWCF - Performance Comparison
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Returns By Period
In the year-to-date period, DAX achieves a -0.66% return, which is significantly lower than ^DWCF's 11.53% return. Over the past 10 years, DAX has underperformed ^DWCF with an annualized return of 8.97%, while ^DWCF has yielded a comparatively higher 13.26% annualized return.
DAX
- 1D
- -1.53%
- 1M
- 2.29%
- YTD
- -0.66%
- 6M
- 2.93%
- 1Y
- 3.88%
- 3Y*
- 17.88%
- 5Y*
- 7.71%
- 10Y*
- 8.97%
^DWCF
- 1D
- 0.24%
- 1M
- 5.68%
- YTD
- 11.53%
- 6M
- 11.31%
- 1Y
- 27.58%
- 3Y*
- 20.78%
- 5Y*
- 11.49%
- 10Y*
- 13.26%
DAX vs. ^DWCF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DAX Global X DAX Germany ETF | -0.66% | 39.00% | 10.55% | 23.62% | -18.47% | 7.73% | 12.27% | 22.11% | -22.92% | 28.23% |
^DWCF Dow Jones U.S. Total Stock Market Index | 11.53% | 15.59% | 22.21% | 24.06% | -20.80% | 24.01% | 18.72% | 28.42% | -7.04% | 18.89% |
Correlation
The correlation between DAX and ^DWCF is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Oct 24, 2014 | 0.66 |
The correlation between DAX and ^DWCF has been stable across timeframes, ranging from 0.65 to 0.73 - a consistent structural relationship.
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Return for Risk
DAX vs. ^DWCF — Risk / Return Rank
DAX
^DWCF
DAX vs. ^DWCF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X DAX Germany ETF (DAX) and Dow Jones U.S. Total Stock Market Index (^DWCF). 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.
| DAX | ^DWCF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.11 | ||
| Sortino ratioReturn per unit of downside risk | -2.74 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.42 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | 0.26 | 3.13 | -2.87 |
| Martin ratioReturn relative to average drawdown | 0.83 | 14.22 | -13.39 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DAX | ^DWCF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.22 | 2.33 | -2.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.38 | 0.66 | -0.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | 0.72 | -0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.50 | -0.15 |
Drawdowns
DAX vs. ^DWCF - Drawdown Comparison
The maximum DAX drawdown since its inception was -45.58%, smaller than the maximum ^DWCF drawdown of -56.81%. Use the drawdown chart below to compare losses from any high point for DAX and ^DWCF.
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Drawdown Indicators
| DAX | ^DWCF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.58% | -56.81% | +11.23% |
Max Drawdown (1Y)Largest decline over 1 year | -14.82% | -9.12% | -5.70% |
Max Drawdown (3Y)Largest decline over 3 years | -16.03% | -19.59% | +3.56% |
Max Drawdown (5Y)Largest decline over 5 years | -39.96% | -26.31% | -13.65% |
Max Drawdown (10Y)Largest decline over 10 years | -45.58% | -35.14% | -10.44% |
Current DrawdownCurrent decline from peak | -4.63% | 0.00% | -4.63% |
Average DrawdownAverage peak-to-trough decline | -10.51% | -10.30% | -0.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.68% | 2.01% | +2.67% |
Volatility
DAX vs. ^DWCF - Volatility Comparison
Global X DAX Germany ETF (DAX) has a higher volatility of 6.09% compared to Dow Jones U.S. Total Stock Market Index (^DWCF) at 2.98%. This indicates that DAX's price experiences larger fluctuations and is considered to be riskier than ^DWCF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DAX | ^DWCF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.09% | 2.98% | +3.11% |
Volatility (6M)Calculated over the trailing 6-month period | 14.37% | 9.23% | +5.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.66% | 12.26% | +5.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.38% | 17.40% | +2.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.28% | 18.46% | +2.82% |
Frequently Asked Questions
DAX and ^DWCF have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DAX has higher volatility (6.09%) compared to ^DWCF (2.98%). In terms of maximum drawdown, DAX dropped -45.58% vs ^DWCF's -56.81%.
^DWCF currently has the higher Sharpe Ratio (2.33 vs 0.22), 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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