DAX vs. PBEU
DAX (Global X DAX Germany ETF) and PBEU (Portfolio Building Block European Banks Index ETF) are both exchange-traded funds - DAX is a Europe Equities fund tracking the DAX Index, while PBEU is a Financials Equities fund tracking the BITA European Banks Index. Both are passively managed. A 0.78 correlation means they provide meaningful diversification when combined. DAX charges 0.20%/yr vs 0.13%/yr for PBEU.
Performance
DAX vs. PBEU - Performance Comparison
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Returns By Period
In the year-to-date period, DAX achieves a -1.81% return, which is significantly lower than PBEU's 13.63% return.
DAX
- 1D
- -1.06%
- 1M
- -1.26%
- YTD
- -1.81%
- 6M
- -1.55%
- 1Y
- 3.85%
- 3Y*
- 17.16%
- 5Y*
- 8.06%
- 10Y*
- 9.68%
PBEU
- 1D
- -1.42%
- 1M
- 7.22%
- YTD
- 13.63%
- 6M
- 14.09%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DAX vs. PBEU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DAX Global X DAX Germany ETF | -1.81% | 7.30% |
PBEU Portfolio Building Block European Banks Index ETF | 13.63% | 11.42% |
Correlation
The correlation between DAX and PBEU is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 25, 2025 | 0.78 |
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Return for Risk
DAX vs. PBEU — Risk / Return Rank
DAX
PBEU
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
DAX vs. PBEU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X DAX Germany ETF (DAX) and Portfolio Building Block European Banks Index ETF (PBEU). 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.
| DAX | PBEU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.05 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.26 | — | — |
| Martin ratioReturn relative to average drawdown | 0.80 | — | — |
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Drawdowns
DAX vs. PBEU - Drawdown Comparison
The maximum DAX drawdown since its inception was -45.58%, which is greater than PBEU's maximum drawdown of -17.26%. Use the drawdown chart below to compare losses from any high point for DAX and PBEU.
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Drawdown Indicators
| DAX | PBEU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.58% | -17.26% | -28.32% |
Max Drawdown (1Y)Largest decline over 1 year | -14.82% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -16.03% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -38.92% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -45.58% | — | — |
Current DrawdownCurrent decline from peak | -5.73% | -1.42% | -4.31% |
Average DrawdownAverage peak-to-trough decline | -10.48% | -3.94% | -6.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.82% | — | — |
Volatility
DAX vs. PBEU - Volatility Comparison
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Volatility by Period
| DAX | PBEU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.25% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 14.86% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 17.98% | 27.63% | -9.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.43% | 27.63% | -7.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.98% | 27.63% | -6.65% |
DAX vs. PBEU - Expense Ratio Comparison
DAX has a 0.20% expense ratio, which is higher than PBEU's 0.13% 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%.
Dividends
DAX vs. PBEU - Dividend Comparison
DAX's dividend yield for the trailing twelve months is around 1.50%, more than PBEU's 0.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
PBEU Portfolio Building Block European Banks Index ETF | 0.01% | 0.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DAX and PBEU have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PBEU is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PBEU is cheaper with a 0.13% expense ratio, compared with 0.20% for DAX.
DAX has the higher dividend yield at 1.50%, compared with 0.01% for PBEU.
DAX is categorized as Europe Equities, while PBEU is Financials Equities. DAX tracks DAX Index, while PBEU tracks BITA European Banks Index. They also come from different issuers: Global X and Portfolio Building Block. Their fees differ too: 0.20% for DAX and 0.13% for PBEU.
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