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MXNUSD=X vs. DAX
Performance
Return for Risk
Drawdowns
Volatility

MXNUSD=X vs. DAX

Last updated Jun 3, 2026

MXNUSD=X (MXN/USD) is a currency, while DAX (Global X DAX Germany ETF) is Europe Equities fund tracking the DAX Index. Over the past 10 years, MXNUSD=X returned 0.75%/yr vs 9.14%/yr for DAX. At a 0.38 correlation, their price movements are largely independent.

Performance

MXNUSD=X vs. DAX - Performance Comparison

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

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Returns By Period

In the year-to-date period, MXNUSD=X achieves a 4.29% return, which is significantly higher than DAX's 0.89% return. Over the past 10 years, MXNUSD=X has underperformed DAX with an annualized return of 0.75%, while DAX has yielded a comparatively higher 9.14% annualized return.

MXNUSD=X

1D
0.45%
1M
0.92%
YTD
4.29%
6M
5.83%
1Y
11.20%
3Y*
0.55%
5Y*
3.14%
10Y*
0.75%

DAX

1D
-0.14%
1M
1.93%
YTD
0.89%
6M
5.11%
1Y
4.85%
3Y*
18.49%
5Y*
8.19%
10Y*
9.14%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MXNUSD=X vs. DAX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MXNUSD=X
MXN/USD		4.29%15.65%-18.53%14.83%5.29%-3.10%-4.83%3.73%0.35%5.25%
DAX
Global X DAX Germany ETF		0.89%39.00%10.55%23.62%-18.47%7.73%12.27%22.11%-22.92%28.23%

Correlation

The correlation between MXNUSD=X and DAX is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.49

Correlation (3Y)
Calculated over the trailing 3-year period

0.42

Correlation (5Y)
Calculated over the trailing 5-year period

0.44

Correlation (10Y)
Calculated over the trailing 10-year period

0.40

Correlation (All Time)
Calculated using the full available price history since Oct 24, 2014

0.38

The correlation between MXNUSD=X and DAX shifts across timeframes, from 0.38 (all time) to 0.49 (1 year), reflecting how their relationship changes across market environments.

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MXN/USD

Global X DAX Germany ETF

Often compared with MXNUSD=X:
MXNUSD=X vs. VOOMXNUSD=X vs. EURUSD=XMXNUSD=X vs. FXBMXNUSD=X vs. CORNMXNUSD=X vs. GBPUSD=XMXNUSD=X vs. UNGMXNUSD=X vs. ^NDX
Often compared with DAX:
DAX vs. SPYDAX vs. ^NIFTY500DAX vs. CACDAX vs. BMW.DEDAX vs. ^FCHIDAX vs. QQQDAX vs. VOO

Return for Risk

MXNUSD=X vs. DAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MXNUSD=X
MXNUSD=X Risk / Return Rank: 8585
Overall Rank
MXNUSD=X Sharpe Ratio Rank: 8989
Sharpe Ratio Rank
MXNUSD=X Sortino Ratio Rank: 8888
Sortino Ratio Rank
MXNUSD=X Omega Ratio Rank: 8585
Omega Ratio Rank
MXNUSD=X Calmar Ratio Rank: 7777
Calmar Ratio Rank
MXNUSD=X Martin Ratio Rank: 8585
Martin Ratio Rank
DAX
DAX Risk / Return Rank: 1313
Overall Rank
DAX Sharpe Ratio Rank: 1313
Sharpe Ratio Rank
DAX Sortino Ratio Rank: 1313
Sortino Ratio Rank
DAX Omega Ratio Rank: 1212
Omega Ratio Rank
DAX Calmar Ratio Rank: 1313
Calmar Ratio Rank
DAX Martin Ratio Rank: 1414
Martin Ratio Rank
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.

MXNUSD=X vs. DAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MXN/USD (MXNUSD=X) 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.

MXNUSD=XDAXDifference

Sharpe ratio

Return per unit of total volatility

1.19

0.28

+0.91

Sortino ratio

Return per unit of downside risk

1.72

0.52

+1.20

Omega ratio

Gain probability vs. loss probability

1.23

1.06

+0.17

Calmar ratio

Return relative to maximum drawdown

1.41

0.40

+1.01

Martin ratio

Return relative to average drawdown

4.93

1.27

+3.66

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MXNUSD=X vs. DAX - Sharpe Ratio Comparison

The current MXNUSD=X Sharpe Ratio is 1.19, which is higher than the DAX Sharpe Ratio of 0.28. The chart below compares the historical Sharpe Ratios of MXNUSD=X and DAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

MXNUSD=XDAXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.19

0.28

+0.91

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.28

0.40

-0.13

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.06

0.43

-0.37

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.18

0.36

-0.54

Drawdowns

MXNUSD=X vs. DAX - Drawdown Comparison

The maximum MXNUSD=X drawdown since its inception was -61.16%, which is greater than DAX's maximum drawdown of -45.58%. Use the drawdown chart below to compare losses from any high point for MXNUSD=X and DAX.

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Drawdown Indicators

MXNUSD=XDAXDifference

Max Drawdown

Largest peak-to-trough decline

-61.16%

-45.58%

-15.58%

Max Drawdown (1Y)

Largest decline over 1 year

-5.52%

-14.82%

+9.30%

Max Drawdown (3Y)

Largest decline over 3 years

-21.70%

-16.03%

-5.67%

Max Drawdown (5Y)

Largest decline over 5 years

-21.70%

-39.96%

+18.26%

Max Drawdown (10Y)

Largest decline over 10 years

-31.20%

-45.58%

+14.38%

Current Drawdown

Current decline from peak

-42.89%

-3.15%

-39.74%

Average Drawdown

Average peak-to-trough decline

-36.79%

-10.51%

-26.28%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.58%

4.67%

-3.09%

Volatility

MXNUSD=X vs. DAX - Volatility Comparison

The current volatility for MXN/USD (MXNUSD=X) is 1.54%, while Global X DAX Germany ETF (DAX) has a volatility of 6.20%. This indicates that MXNUSD=X 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

MXNUSD=XDAXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.54%

6.20%

-4.66%

Volatility (6M)

Calculated over the trailing 6-month period

6.73%

14.34%

-7.61%

Volatility (1Y)

Calculated over the trailing 1-year period

7.56%

17.62%

-10.06%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.47%

20.37%

-9.90%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

12.43%

21.28%

-8.85%

Frequently Asked Questions

MXNUSD=X and DAX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DAX has higher volatility (6.20%) compared to MXNUSD=X (1.54%). In terms of maximum drawdown, MXNUSD=X dropped -61.16% vs DAX's -45.58%.

MXNUSD=X currently has the higher Sharpe Ratio (1.19 vs 0.28), 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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