EWG vs. DAX
Compare and contrast key facts about iShares MSCI Germany ETF (EWG) and Global X DAX Germany ETF (DAX).
EWG and DAX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EWG is a passively managed fund by iShares that tracks the performance of the MSCI Germany Index. It was launched on Mar 12, 1996. DAX is a passively managed fund by Global X that tracks the performance of the DAX Index. It was launched on Oct 22, 2014. Both EWG and DAX 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
EWG vs. DAX - Performance Comparison
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EWG vs. DAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EWG iShares MSCI Germany ETF | -6.66% | 35.79% | 9.79% | 23.35% | -22.27% | 5.84% | 10.09% | 19.15% | -21.40% | 27.42% |
DAX Global X DAX Germany ETF | -7.59% | 39.00% | 10.55% | 23.62% | -18.47% | 7.73% | 12.27% | 22.11% | -22.92% | 28.23% |
Returns By Period
In the year-to-date period, EWG achieves a -6.66% return, which is significantly higher than DAX's -7.59% return. Over the past 10 years, EWG has underperformed DAX with an annualized return of 7.03%, while DAX has yielded a comparatively higher 8.33% annualized return.
EWG
- 1D
- 3.39%
- 1M
- -10.53%
- YTD
- -6.66%
- 6M
- -4.66%
- 1Y
- 8.76%
- 3Y*
- 14.25%
- 5Y*
- 5.73%
- 10Y*
- 7.03%
DAX
- 1D
- 3.56%
- 1M
- -10.85%
- YTD
- -7.59%
- 6M
- -5.61%
- 1Y
- 9.46%
- 3Y*
- 15.26%
- 5Y*
- 7.59%
- 10Y*
- 8.33%
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EWG vs. DAX - Expense Ratio Comparison
EWG has a 0.49% expense ratio, which is higher than DAX's 0.20% expense ratio.
Return for Risk
EWG vs. DAX — Risk / Return Rank
EWG
DAX
EWG vs. DAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Germany ETF (EWG) 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.
| EWG | DAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.44 | 0.47 | -0.03 |
Sortino ratioReturn per unit of downside risk | 0.77 | 0.81 | -0.03 |
Omega ratioGain probability vs. loss probability | 1.10 | 1.10 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 0.54 | 0.58 | -0.04 |
Martin ratioReturn relative to average drawdown | 1.76 | 2.05 | -0.29 |
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
| EWG | DAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.44 | 0.47 | -0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.28 | 0.38 | -0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.34 | 0.39 | -0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.24 | 0.32 | -0.09 |
Correlation
The correlation between EWG and DAX is 0.93, 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
EWG vs. DAX - Dividend Comparison
EWG's dividend yield for the trailing twelve months is around 1.71%, more than DAX's 1.59% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWG iShares MSCI Germany ETF | 1.71% | 1.60% | 2.38% | 2.56% | 3.24% | 2.70% | 1.67% | 2.51% | 2.93% | 2.06% | 2.35% | 1.93% |
DAX Global X DAX Germany ETF | 1.59% | 1.47% | 2.24% | 2.48% | 2.80% | 2.65% | 2.25% | 2.47% | 3.33% | 1.73% | 1.78% | 1.41% |
Drawdowns
EWG vs. DAX - Drawdown Comparison
The maximum EWG drawdown since its inception was -67.57%, which is greater than DAX's maximum drawdown of -45.58%. Use the drawdown chart below to compare losses from any high point for EWG and DAX.
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Drawdown Indicators
| EWG | DAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.57% | -45.58% | -21.99% |
Max Drawdown (1Y)Largest decline over 1 year | -14.54% | -14.82% | +0.28% |
Max Drawdown (5Y)Largest decline over 5 years | -43.44% | -39.96% | -3.48% |
Max Drawdown (10Y)Largest decline over 10 years | -46.80% | -45.58% | -1.22% |
Current DrawdownCurrent decline from peak | -10.97% | -11.28% | +0.31% |
Average DrawdownAverage peak-to-trough decline | -19.28% | -10.58% | -8.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.46% | 4.18% | +0.28% |
Volatility
EWG vs. DAX - Volatility Comparison
iShares MSCI Germany ETF (EWG) and Global X DAX Germany ETF (DAX) have volatilities of 8.65% and 8.79%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EWG | DAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.65% | 8.79% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 12.39% | 12.71% | -0.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.80% | 20.17% | -0.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.30% | 20.20% | +0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.03% | 21.21% | -0.18% |