DAX vs. ^FCHI

Last updated Apr 2, 2026

Compare and contrast key facts about Global X DAX Germany ETF (DAX) and CAC 40 (^FCHI).

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

DAX vs. ^FCHI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X DAX Germany ETF (DAX) and CAC 40 (^FCHI). The values are adjusted to include any dividend payments, if applicable.

DAX vs. ^FCHI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
^FCHI CAC 40	-3.32%	25.25%	-8.20%	20.20%	-14.94%	20.07%	1.08%	23.91%	-15.11%	24.71%

Different Trading Currencies

DAX is traded in USD, while ^FCHI is traded in EUR. To make them comparable, the ^FCHI values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, DAX achieves a -6.25% return, which is significantly lower than ^FCHI's -3.32% return. Over the past 10 years, DAX has outperformed ^FCHI with an annualized return of 8.48%, while ^FCHI has yielded a comparatively lower 6.52% annualized return.

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%

^FCHI

• 1D: 2.48%
• 1M: -5.69%
• YTD: -3.32%
• 6M: -0.98%
• 1Y: 8.87%
• 3Y*: 5.24%
• 5Y*: 5.19%
• 10Y*: 6.52%

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

Return for Risk

DAX vs. ^FCHI — Risk / Return Rank

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

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

^FCHI

^FCHI Risk / Return Rank: 26
^FCHI Sharpe Ratio Rank: 18
^FCHI Sortino Ratio Rank: 18
^FCHI Omega Ratio Rank: 18
^FCHI Calmar Ratio Rank: 38
^FCHI Martin Ratio Rank: 39

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.

DAX vs. ^FCHI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X DAX Germany ETF (DAX) and CAC 40 (^FCHI). 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	^FCHI	Difference
Sharpe ratio Return per unit of total volatility	0.51	0.49	+0.02
Sortino ratio Return per unit of downside risk	0.85	0.77	+0.09
Omega ratio Gain probability vs. loss probability	1.11	1.11	0.00
Calmar ratio Return relative to maximum drawdown	0.75	1.25	-0.51
Martin ratio Return relative to average drawdown	2.61	4.55	-1.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DAX vs. ^FCHI - Sharpe Ratio Comparison

The current DAX Sharpe Ratio is 0.51, which is comparable to the ^FCHI Sharpe Ratio of 0.49. The chart below compares the historical Sharpe Ratios of DAX and ^FCHI, 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

	DAX	^FCHI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.51	0.49	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	0.26	+0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	0.32	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.05	+0.28

Correlation

The correlation between DAX and ^FCHI is 0.74, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

DAX vs. ^FCHI - Drawdown Comparison

The maximum DAX drawdown since its inception was -45.58%, smaller than the maximum ^FCHI drawdown of -62.50%. Use the drawdown chart below to compare losses from any high point for DAX and ^FCHI.

Drawdown Indicators

	DAX	^FCHI	Difference
Max Drawdown Largest peak-to-trough decline	-45.58%	-65.29%	+19.71%
Max Drawdown (1Y) Largest decline over 1 year	-14.82%	-12.67%	-2.15%
Max Drawdown (5Y) Largest decline over 5 years	-39.96%	-23.04%	-16.92%
Max Drawdown (10Y) Largest decline over 10 years	-45.58%	-38.56%	-7.02%
Current Drawdown Current decline from peak	-10.00%	-7.42%	-2.58%
Average Drawdown Average peak-to-trough decline	-10.58%	-23.58%	+13.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.23%	3.19%	+1.04%

Volatility

DAX vs. ^FCHI - Volatility Comparison

Global X DAX Germany ETF (DAX) has a higher volatility of 8.46% compared to CAC 40 (^FCHI) at 5.79%. This indicates that DAX's price experiences larger fluctuations and is considered to be riskier than ^FCHI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DAX	^FCHI	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.46%	5.79%	+2.67%
Volatility (6M) Calculated over the trailing 6-month period	12.77%	10.89%	+1.88%
Volatility (1Y) Calculated over the trailing 1-year period	20.20%	18.05%	+2.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.20%	19.46%	+0.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.21%	19.88%	+1.33%