DAX vs. URA

Last updated Jun 24, 2026

DAX (Global X DAX Germany ETF) and URA (Global X Uranium ETF) are both exchange-traded funds - DAX is a Europe Equities fund tracking the DAX Index, while URA is a Uranium fund tracking the Solactive Global Uranium & Nuclear Components Total Return Index. Both are passively managed. Over the past 10 years, DAX returned 9.68%/yr vs 16.42%/yr for URA. At a 0.46 correlation, their price movements are largely independent. DAX charges 0.20%/yr vs 0.69%/yr for URA.

Performance

DAX vs. URA - Performance Comparison

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

Returns By Period

In the year-to-date period, DAX achieves a -1.81% return, which is significantly lower than URA's 6.67% return. Over the past 10 years, DAX has underperformed URA with an annualized return of 9.68%, while URA has yielded a comparatively higher 16.42% annualized 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%

URA

• 1D: -2.61%
• 1M: -6.90%
• YTD: 6.67%
• 6M: 2.57%
• 1Y: 27.21%
• 3Y*: 34.68%
• 5Y*: 20.40%
• 10Y*: 16.42%

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

DAX vs. URA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DAX Global X DAX Germany ETF	-1.81%	39.00%	10.55%	23.62%	-18.47%	7.73%	12.27%	22.11%	-22.92%	28.23%
URA Global X Uranium ETF	6.67%	67.18%	-0.58%	46.25%	-11.32%	57.57%	41.33%	-3.54%	-22.11%	19.36%

Correlation

The correlation between DAX and URA is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (10Y) Calculated over the trailing 10-year period	0.46
Correlation (All Time) Calculated using the full available price history since Oct 23, 2014	0.46

DAX vs. URA - Sectors Allocation Comparison

Sectors	DAX	URA
Industrials	34.1%	22.7%
Financial Services	20.0%	-
Technology	15.4%	0.9%
Consumer Cyclical	7.3%	-
Communication Services	6.2%	-
Healthcare	5.5%	-
Basic Materials	5.0%	4.8%
Utilities	4.5%	7.4%
Consumer Defensive	1.0%	-
Real Estate	0.9%	-
Energy	-	64.2%

Return for Risk

DAX vs. URA — Risk / Return Rank

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

DAX

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

URA

URA Risk / Return Rank: 19
URA Sharpe Ratio Rank: 17
URA Sortino Ratio Rank: 20
URA Omega Ratio Rank: 19
URA Calmar Ratio Rank: 20
URA Martin Ratio Rank: 18

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. URA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X DAX Germany ETF (DAX) and Global X Uranium ETF (URA). 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	URA	Difference
Sharpe ratio: Return per unit of total volatility	0.22	0.53	-0.32
Sortino ratio: Return per unit of downside risk	0.43	1.09	-0.65
Omega ratio: Gain probability vs. loss probability	1.05	1.13	-0.07
Calmar ratio: Return relative to maximum drawdown	0.26	0.87	-0.61
Martin ratio: Return relative to average drawdown	0.80	1.87	-1.07

DAX vs. URA - Sharpe Ratio Comparison

The current DAX Sharpe Ratio is 0.22, which is lower than the URA Sharpe Ratio of 0.53. The chart below compares the historical Sharpe Ratios of DAX and URA, 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

DAX vs. URA - Drawdown Comparison

The maximum DAX drawdown since its inception was -45.58%, smaller than the maximum URA drawdown of -93.54%. Use the drawdown chart below to compare losses from any high point for DAX and URA.

Drawdown Indicators

	DAX	URA	Difference
Max Drawdown Largest peak-to-trough decline	-45.58%	-93.54%	+47.96%
Max Drawdown (1Y) Largest decline over 1 year	-14.82%	-31.48%	+16.66%
Max Drawdown (3Y) Largest decline over 3 years	-16.03%	-37.81%	+21.78%
Max Drawdown (5Y) Largest decline over 5 years	-38.92%	-37.90%	-1.02%
Max Drawdown (10Y) Largest decline over 10 years	-45.58%	-61.45%	+15.87%
Current Drawdown Current decline from peak	-5.73%	-48.27%	+42.54%
Average Drawdown Average peak-to-trough decline	-10.48%	-74.90%	+64.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.82%	14.58%	-9.76%

Volatility

DAX vs. URA - Volatility Comparison

The current volatility for Global X DAX Germany ETF (DAX) is 5.25%, while Global X Uranium ETF (URA) has a volatility of 17.86%. This indicates that DAX experiences smaller price fluctuations and is considered to be less risky than URA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DAX	URA	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.25%	17.86%	-12.61%
Volatility (6M) Calculated over the trailing 6-month period	14.86%	39.53%	-24.67%
Volatility (1Y) Calculated over the trailing 1-year period	17.98%	51.33%	-33.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.43%	43.92%	-23.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.98%	37.95%	-16.97%

DAX vs. URA - Expense Ratio Comparison

DAX has a 0.20% expense ratio, which is lower than URA's 0.69% expense ratio.

Dividends

DAX vs. URA - Dividend Comparison

DAX's dividend yield for the trailing twelve months is around 1.50%, less than URA's 4.57% 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%
URA Global X Uranium ETF	4.57%	4.88%	2.86%	6.07%	0.76%	5.84%	1.69%	1.66%	0.44%	2.03%	7.28%	1.96%

Frequently Asked Questions

Can I hold both DAX and URA in my portfolio?

DAX and URA have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DAX or URA?

URA has higher volatility (17.86%) compared to DAX (5.25%). In terms of maximum drawdown, DAX dropped -45.58% vs URA's -93.54%.

Which ETF is better, DAX or URA?

On 10-year performance, URA leads with 16.42% vs 9.68% for DAX. On fees, DAX is cheaper at 0.20% per year. On volatility, DAX has been the lower-risk option at 5.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DAX or URA?

Over the 10-year period, URA has performed better with a 16.42% return vs 9.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DAX or URA?

DAX is cheaper with a 0.20% expense ratio, compared with 0.69% for URA.

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

URA has the higher dividend yield at 4.57%, compared with 1.50% for DAX.

What is the main difference between DAX and URA?

DAX is categorized as Europe Equities, while URA is Uranium. DAX tracks DAX Index, while URA tracks Solactive Global Uranium & Nuclear Components Total Return Index. Their fees differ too: 0.20% for DAX and 0.69% for URA.

Which has better risk-adjusted returns?

URA currently has the higher Sharpe Ratio (0.53 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.