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Index Products


The German equity benchmark – for over 30 years

Deutsche Version
DAX® tracks the performance of the 40 largest companies listed on the Regulated Market of Frankfurter Wertpapierbörse (FWB®, the Frankfurt Stock Exchange) that fulfil certain minimum quality and profitability requirements. Constituent selection is based on free float market capitalization. DAX is primarily calculated as a performance index and is therefore one of the few major country indices that also takes dividend yields into account, thus fully reflecting the actual performance of an investment in the index portfolio.

Key benefits


DAX is the defining index for the German equity market, it serves as underlying for financial products (options, futures, ETFs, structured products) and for benchmarking purposes


Index calculation and changes to the index composition follow publicly available transparent rules. Please visit the Guide to the DAX Equity Indices for a complete overview

Diversified across sectors

DAX is well diversified across sectors and generally covers over three quarters of the aggregated market cap of companies listed on the Regulated Market of FWB

Well balanced

Diversification is achieved by incorporating a capping factor of 10% at component level, which ensures that no component can dominate the index

High quality

Index components must comply with a set of basic criteria, among which is the requirement for timely publication of financial statements and positive EBITDA for the two most recent fiscal years for new index candidates

Index methodology

Index composition is determined on the basis of a clear and publicly available set of rules.

The basic criteria for including companies in DAX are: an existing listing on the Regulated Market of the FWB (Frankfurt Stock Exchange), continuous trading on Xetra®, minimum free float of 10%, legal headquarters or operating headquarters in Germany, timely publication of audited Annual Financial Report, half-yearly Financial Reports and Quarterly Statements.

To be included in DAX, a company that is not an index component yet, must satisfy the following FWB minimum liquidity requirement: minimum order book volume over the last 12 months of 1 bn EUR or turnover rate of 20%. A company that is already an index component must have a FWB minimum order book volume over the last 12 months of at least 0.8 bn EUR or show a turnover rate of 10%. In order to be eligible for DAX, companies that are not components of DAX at the time the ranking list is compiled must show a positive EBITDA for the two most recent fiscal years.

The selection of index components is based on free float market capitalization. The index composition is reviewed quarterly based on the Fast Exist and Fast Entry rules and semi-annually based on the Regular Exit and Regular Entry rules.

The index weighting of an individual share is capped at 10%.

The number of DAX holdings was increased from 30 to 40 effective September 20, 2021.

Deutsche Börse Group has been calculating DAX since July 1, 1988. In September 2019, STOXX Ltd. started administering DAX.


Dissemination Period
09:00-17:55 CET
Bloomberg ID
Last Value
15,908.91 -43.82 (-0.27%)
As of 05:55 pm CET
Week to Week Change
52 Week Change
Year to Date Change
Daily Low
Daily High
52 Week Low
11975.5529 Sep 2022
52 Week High
16275.3819 May 2023
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Index / ETFs

Rheinmetall to be included in DAX

Qontigo has announced the new composition of the DAX index family, which will become effective on 20 March 2023. DAX, MDAX, SDAX and TecDAX represent the largest companies on the Regulated Market of Frankfurt Stock Exchange; they are reviewed every three months.


Linde to be removed from Germany’s DAX benchmark, STOXX indices on Feb. 27

The largest constituent of Germany’s equity benchmark has announced it plans to delist its shares from the Frankfurt Stock Exchange. A replacement in DAX and STOXX indices will be announced on Feb. 17.


Information bezüglich der Löschung von Linde aus dem DAX

STOXX Ltd., der globale Indexanbieter des Finanzdienstleisters Qontigo, gibt bekannt, dass Linde plc zum 27. Februar 2023 aus dem DAX Index genommen wird. Grund ist das vom Unternehmen kommunizierte Delisting der Stammaktien von der Frankfurter Wertpapierbörse.


Information regarding deletion of Linde from the DAX

Qontigo’s global index provider STOXX Ltd. announces that Linde plc will be deleted from the DAX index effective 27 February 2023. The reason for this is the company’s announcement related to the delisting of its ordinary shares from the Frankfurt Stock Exchange.

Index / ETFs

Wechsel im DAX: Porsche ersetzt Puma

STOXX Ltd., der globale Indexanbieter von Qontigo hat die neue Zusammensetzung der DAX-Indexfamilie mit Wirkung zum 19. Dezember 2022 bekannt gegeben.

Index / ETFs

Changes in DAX: Porsche replaces Puma

Qontigo’s global index provider STOXX Ltd. has announced changes to the DAX index family, which will become effective on 19 December 2022.


DAX’s two-year methodology overhaul cements German benchmark’s standing with investors, issuers 

Qontigo has been busy in the past two years enhancing the DAX rulebook, to bolster the quality of constituent companies, bring selection criteria in line with international standards and improve representativeness of the underlying markets. Serkan Batir, Qontigo’s Managing Director for Indices, says the overhaul helps ensure the benchmark is fit for purpose in an evolving financial landscape.


Stocks rebound in October on hopes for Fed’s policy pivot

The STOXX Global 1800 index rose 7.1% in dollars last month, after falling to a two-year low. While most economists rightly forecast the Federal Reserve’s fourth consecutive hike of 75 basis points on Nov. 2, speculation grew during October that the central bank could indicate it would slow the pace of monetary tightening.


Stocks extend rout in September as central banks tighten monetary policy further

The STOXX Global 1800 index dropped 9.3% in dollars last month, taking its retreat in 2022 to 25.5%. The Federal Reserve, European Central Bank and Bank of England increased the cost of borrowing in the month, with the first two hiking by a larger-than-average 75 basis points.


Scout24 to join DAX ESG Target index as Hellofresh exits; Siemens Energy enters DAX ESG Screened

Changes were announced as part of the September regular review of the DAX 50 ESG, DAX ESG Target, DAX ESG Screened and DAX indices.