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Blog Posts — March 8, 2024

Commerzbank, Kion among companies joining DAX ESG indices

STOXX has announced the results of the March regular review of the composition of the DAX® 50 ESGDAX® 50 ESG+DAX® 30 ESGDAX® ESG TargetDAX® ESG ScreenedMDAX® ESG+ and MDAX® ESG Screened indices, as well as of the benchmark DAX®. The actions listed below will be effective as of March 18 this year.


DAX 50 ESG

No changes

DAX 50 ESG+

Additions: 

  • Deutsche Post
  • Vonovia
  • Commerzbank 

Deletions:  

  • Encavis
  • LEG Immobilien

DAX 30 ESG

Addition:

  • Kion Group

Deletion:

  • Evotec

DAX ESG Target

Addition:

  • Knorr-Bremse

Deletion:

  • Evonik Industries

DAX ESG Screened

No changes

MDAX ESG+

Additions: 

  • Morphosys 
  • Befesa

Deletion:    

  • Vitesco Technologies 

MDAX ESG Screened

Additions: 

  • Morphosys 
  • Befesa

Deletions:

  • Rational 
  • Vitesco Technologies 

DAX

No changes

Different strategies

The DAX 50 ESG combines negative screening and best-in-class ESG integration, and was developed as a broad-market ESG benchmark with a larger composition than that of the flagship DAX.1

The DAX 30 ESG excludes controversial companies from a starting universe, and from the largest remaining companies selects the 30 securities with the highest ESG Performance Score from ISS ESG.2

The DAX ESG Target follows an optimized weighting methodology whose objective is to improve the portfolio’s ESG score and decrease its carbon footprint relative to the benchmark, while limiting the tracking error.

The objective of the DAX ESG Screened index is to reflect the performance of the DAX after removing companies that fail screenings for global norms, controversial weapons, product involvement and a minimum ESG rating.

The DAX 50 ESG+ reflects the performance of the 50 highest ESG-ranked German companies after using sustainability exclusion filters.3

The MDAX ESG indices follow similar methodologies as the DAX ESG indices while tracking mid-cap companies.

The next regular review of the DAX ESG indices will take place on June 6, 2024. 

1,2,3 The selection universe for these indices is the HDAX®.