RAYS vs. DAX

Last updated Apr 2, 2026

Compare and contrast key facts about Global X Solar ETF (RAYS) and Global X DAX Germany ETF (DAX).

RAYS and DAX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. RAYS is a passively managed fund by Global X that tracks the performance of the Solactive Solar Index. It was launched on Sep 8, 2021. 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 RAYS 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

RAYS vs. DAX - Performance Comparison

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

RAYS vs. DAX - Yearly Performance Comparison

	2026 (YTD)
RAYS Global X Solar ETF	0.00%
DAX Global X DAX Germany ETF	-8.08%

Returns By Period

RAYS

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DAX

• 1D: 1.45%
• 1M: -6.35%
• YTD: -6.25%
• 6M: -5.30%
• 1Y: 10.17%
• 3Y*: 15.81%
• 5Y*: 7.90%
• 10Y*: 8.48%

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

RAYS vs. DAX - Expense Ratio Comparison

RAYS has a 0.50% expense ratio, which is higher than DAX's 0.20% expense ratio.

RAYS

Global X Solar ETF

DAX

Global X DAX Germany ETF

Return for Risk

RAYS vs. DAX — Risk / Return Rank

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

DAX

DAX Risk / Return Rank: 28
DAX Sharpe Ratio Rank: 26
DAX Sortino Ratio Rank: 27
DAX Omega Ratio Rank: 26
DAX Calmar Ratio Rank: 30
DAX Martin Ratio Rank: 30

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.

RAYS vs. DAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Solar ETF (RAYS) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	RAYS	DAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.51	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.39	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.40	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.33	—

Dividends

RAYS vs. DAX - Dividend Comparison

RAYS has not paid dividends to shareholders, while DAX's dividend yield for the trailing twelve months is around 1.57%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RAYS Global X Solar ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DAX Global X DAX Germany ETF	1.57%	1.47%	2.24%	2.48%	2.80%	2.65%	2.25%	2.47%	3.33%	1.73%	1.78%	1.41%

Drawdowns

RAYS vs. DAX - Drawdown Comparison

The maximum RAYS drawdown since its inception was 0.00%, smaller than the maximum DAX drawdown of -45.58%. Use the drawdown chart below to compare losses from any high point for RAYS and DAX.

Drawdown Indicators

	RAYS	DAX	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-45.58%	+45.58%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.82%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-39.96%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-45.58%	—
Current Drawdown Current decline from peak	0.00%	-10.00%	+10.00%
Average Drawdown Average peak-to-trough decline	0.00%	-10.58%	+10.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.23%	—

Volatility

Volatility by Period

	RAYS	DAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	8.46%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.77%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	20.20%	-20.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	20.20%	-20.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	21.21%	-21.21%