DBOEY vs. DAX
DBOEY (Deutsche Boerse AG ADR) is a stock, while DAX (Global X DAX Germany ETF) is Europe Equities fund tracking the DAX Index. Over the past 10 years, DBOEY returned 15.25%/yr vs 9.79%/yr for DAX. At a 0.50 correlation, their price movements are largely independent.
Performance
DBOEY vs. DAX - Performance Comparison
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Returns By Period
In the year-to-date period, DBOEY achieves a 7.54% return, which is significantly higher than DAX's -0.76% return. Over the past 10 years, DBOEY has outperformed DAX with an annualized return of 15.25%, while DAX has yielded a comparatively lower 9.79% annualized return.
DBOEY
- 1D
- -0.16%
- 1M
- -6.34%
- YTD
- 7.54%
- 6M
- 8.43%
- 1Y
- -9.09%
- 3Y*
- 17.19%
- 5Y*
- 11.92%
- 10Y*
- 15.25%
DAX
- 1D
- -0.20%
- 1M
- -0.20%
- YTD
- -0.76%
- 6M
- -0.13%
- 1Y
- 6.24%
- 3Y*
- 17.58%
- 5Y*
- 8.44%
- 10Y*
- 9.79%
DBOEY vs. DAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DBOEY Deutsche Boerse AG ADR | 7.54% | 15.89% | 14.37% | 22.36% | 5.51% | -0.35% | 9.85% | 32.55% | 4.89% | 51.57% |
DAX Global X DAX Germany ETF | -0.76% | 39.00% | 10.55% | 23.62% | -18.47% | 7.73% | 12.27% | 22.11% | -22.92% | 28.23% |
Correlation
The correlation between DBOEY and DAX is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Oct 23, 2014 | 0.50 |
Over the past year, the correlation between DBOEY and DAX has dropped to 0.22 - well below their long-term average of 0.50, suggesting their price drivers have been diverging.
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Return for Risk
DBOEY vs. DAX — Risk / Return Rank
DBOEY
DAX
DBOEY vs. DAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Deutsche Boerse AG ADR (DBOEY) and Global X DAX Germany ETF (DAX). 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.
| DBOEY | DAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.74 | ||
| Sortino ratioReturn per unit of downside risk | -1.05 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.07 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.33 | 0.42 | -0.75 |
| Martin ratioReturn relative to average drawdown | -0.56 | 1.30 | -1.86 |
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Drawdowns
DBOEY vs. DAX - Drawdown Comparison
The maximum DBOEY drawdown since its inception was -56.48%, which is greater than DAX's maximum drawdown of -45.58%. Use the drawdown chart below to compare losses from any high point for DBOEY and DAX.
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Drawdown Indicators
| DBOEY | DAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.48% | -45.58% | -10.90% |
Max Drawdown (1Y)Largest decline over 1 year | -28.09% | -14.82% | -13.27% |
Max Drawdown (3Y)Largest decline over 3 years | -28.71% | -16.03% | -12.68% |
Max Drawdown (5Y)Largest decline over 5 years | -28.71% | -38.92% | +10.21% |
Max Drawdown (10Y)Largest decline over 10 years | -38.66% | -45.58% | +6.92% |
Current DrawdownCurrent decline from peak | -14.12% | -4.72% | -9.40% |
Average DrawdownAverage peak-to-trough decline | -12.97% | -10.48% | -2.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.37% | 4.80% | +11.57% |
Volatility
DBOEY vs. DAX - Volatility Comparison
The current volatility for Deutsche Boerse AG ADR (DBOEY) is 4.64%, while Global X DAX Germany ETF (DAX) has a volatility of 5.15%. This indicates that DBOEY experiences smaller price fluctuations and is considered to be less risky than DAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBOEY | DAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.64% | 5.15% | -0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 17.26% | 14.84% | +2.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.37% | 17.98% | +5.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.19% | 20.43% | +1.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.85% | 21.22% | +2.63% |
Dividends
DBOEY vs. DAX - Dividend Comparison
DBOEY's dividend yield for the trailing twelve months is around 1.78%, more than DAX's 1.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DAX Global X DAX Germany ETF | 1.48% | 1.47% | 2.24% | 2.48% | 2.80% | 2.65% | 2.25% | 2.47% | 3.33% | 1.73% | 1.78% | 1.41% |
DBOEY Deutsche Boerse AG ADR | 1.78% | 1.71% | 1.76% | 1.93% | 2.05% | 1.38% | 1.21% | 1.27% | 1.64% | 3.82% | 5.49% | 2.63% |
Frequently Asked Questions
DBOEY and DAX have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DAX has higher volatility (5.15%) compared to DBOEY (4.64%). In terms of maximum drawdown, DBOEY dropped -56.48% vs DAX's -45.58%.
DAX currently has the higher Sharpe Ratio (0.35 vs -0.39), 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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