DAX vs. IEUR
Compare and contrast key facts about Global X DAX Germany ETF (DAX) and iShares Core MSCI Europe ETF (IEUR).
DAX and IEUR are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DAX is a passively managed fund by Global X that tracks the performance of the DAX Index. It was launched on Oct 22, 2014. IEUR is a passively managed fund by iShares that tracks the performance of the MSCI Europe Investable Market Index. It was launched on Jun 10, 2014. Both DAX and IEUR are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
DAX vs. IEUR - Performance Comparison
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DAX vs. IEUR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DAX Global X DAX Germany ETF | -7.02% | 39.00% | 10.55% | 23.62% | -18.47% | 7.73% | 12.27% | 22.11% | -22.92% | 28.23% |
IEUR iShares Core MSCI Europe ETF | -0.03% | 35.67% | 1.40% | 19.71% | -15.90% | 16.71% | 5.31% | 24.95% | -14.86% | 26.70% |
Returns By Period
In the year-to-date period, DAX achieves a -7.02% return, which is significantly lower than IEUR's -0.03% return. Over the past 10 years, DAX has underperformed IEUR with an annualized return of 8.39%, while IEUR has yielded a comparatively higher 8.97% annualized return.
DAX
- 1D
- -0.82%
- 1M
- -4.14%
- YTD
- -7.02%
- 6M
- -6.90%
- 1Y
- 9.35%
- 3Y*
- 15.34%
- 5Y*
- 7.73%
- 10Y*
- 8.39%
IEUR
- 1D
- -0.53%
- 1M
- -2.37%
- YTD
- -0.03%
- 6M
- 3.97%
- 1Y
- 21.12%
- 3Y*
- 14.03%
- 5Y*
- 8.60%
- 10Y*
- 8.97%
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DAX vs. IEUR - Expense Ratio Comparison
DAX has a 0.20% expense ratio, which is higher than IEUR's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
DAX vs. IEUR — Risk / Return Rank
DAX
IEUR
DAX vs. IEUR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X DAX Germany ETF (DAX) and iShares Core MSCI Europe ETF (IEUR). 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 | IEUR | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.46 | 1.19 | -0.73 |
Sortino ratioReturn per unit of downside risk | 0.80 | 1.73 | -0.93 |
Omega ratioGain probability vs. loss probability | 1.10 | 1.24 | -0.14 |
Calmar ratioReturn relative to maximum drawdown | 0.63 | 1.79 | -1.16 |
Martin ratioReturn relative to average drawdown | 2.17 | 6.80 | -4.63 |
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 | IEUR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.46 | 1.19 | -0.73 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.38 | 0.49 | -0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.40 | 0.48 | -0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 0.33 | 0.00 |
Correlation
The correlation between DAX and IEUR is 0.86, 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.
Dividends
DAX vs. IEUR - Dividend Comparison
DAX's dividend yield for the trailing twelve months is around 1.58%, less than IEUR's 2.97% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DAX Global X DAX Germany ETF | 1.58% | 1.47% | 2.24% | 2.48% | 2.80% | 2.65% | 2.25% | 2.47% | 3.33% | 1.73% | 1.78% | 1.41% |
IEUR iShares Core MSCI Europe ETF | 2.97% | 2.97% | 3.54% | 3.17% | 3.05% | 2.88% | 2.13% | 3.26% | 3.76% | 2.64% | 3.19% | 2.79% |
Drawdowns
DAX vs. IEUR - Drawdown Comparison
The maximum DAX drawdown since its inception was -45.58%, which is greater than IEUR's maximum drawdown of -36.96%. Use the drawdown chart below to compare losses from any high point for DAX and IEUR.
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Drawdown Indicators
| DAX | IEUR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.58% | -36.96% | -8.62% |
Max Drawdown (1Y)Largest decline over 1 year | -14.82% | -12.04% | -2.78% |
Max Drawdown (5Y)Largest decline over 5 years | -39.96% | -32.75% | -7.21% |
Max Drawdown (10Y)Largest decline over 10 years | -45.58% | -36.96% | -8.62% |
Current DrawdownCurrent decline from peak | -10.73% | -7.54% | -3.19% |
Average DrawdownAverage peak-to-trough decline | -10.58% | -8.30% | -2.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.28% | 3.17% | +1.11% |
Volatility
DAX vs. IEUR - Volatility Comparison
Global X DAX Germany ETF (DAX) has a higher volatility of 8.35% compared to iShares Core MSCI Europe ETF (IEUR) at 7.23%. This indicates that DAX's price experiences larger fluctuations and is considered to be riskier than IEUR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DAX | IEUR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.35% | 7.23% | +1.12% |
Volatility (6M)Calculated over the trailing 6-month period | 12.74% | 10.98% | +1.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.21% | 17.82% | +2.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.20% | 17.53% | +2.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.21% | 18.59% | +2.62% |