Browse all 653 ETFs by category, no search needed
Global 187
US market 62
Country 93
Core UCITS 15
Sector 103
Style & factor 111
Theme 45
Dividend 37
Global X DAX Germany (DAX)Overvalued or undervalued?
Look-through valuation · Core UCITS · Expense ratio 0.20 % · ISIN US37954Y4917
Price history (since 2014)
Monthly close since 2014. Price shows performance, the valuation verdict is in the look-through above.
Top holdings
| Holding | Weight | vs fair value | Quality |
|---|---|---|---|
| SAP SE SAP | 11.7 % | −13.4 % | 82 |
| Siemens Aktiengesellschaft SIE | 11.6 % | −44.4 % | 61 |
| Allianz SE VNA O.N. ALV | 9.4 % | −47.0 % | 59 |
| Siemens Energy AG ENR | 7.1 % | −71.2 % | 68 |
| Airbus Group SE AIR | 6.5 % | −43.6 % | 53 |
| Deutsche Telekom AG DTE | 4.8 % | −15.4 % | 56 |
| Infineon Technologies AG IFX | 4.0 % | −67.0 % | 56 |
| Münchener Rück AG MUV2 | 3.8 % | −27.0 % | 52 |
| Deutsche Bank Aktiengesellschaft DBK | 3.4 % | n/a | n/a |
| Deutsche Börse AG DB1 | 3.2 % | −26.7 % | 62 |
| Deutsche Post AG DHL | 3.1 % | +107.9 % | 63 |
| BASF SE BAS | 2.6 % | −27.8 % | 54 |
| Rheinmetall AG RHM | 2.5 % | n/a | n/a |
| Bayer AG NA BAYN | 2.5 % | +18.4 % | 44 |
| RWE AG RWE | 2.4 % | −26.5 % | 33 |
| E.ON SE EOAN | 2.3 % | −49.9 % | 33 |
| Mercedes-Benz Group AG MBG | 1.7 % | +159.6 % | 56 |
| adidas AG ADS | 1.6 % | −23.5 % | 54 |
| Daimler Truck Holding AG DTG | 1.2 % | n/a | n/a |
| Bayerische Motoren Werke Aktiengesellschaft BMW | 1.1 % | +63.6 % | 50 |
| Heidelberg Materials AG HEI | 1.1 % | n/a | n/a |
| MTU Aero Engines AG MTX | 1.0 % | −10.6 % | 61 |
| MERCK Kommanditgesellschaft auf Aktien 0O14 | 1.0 % | n/a | n/a |
| Fresenius SE & Co. KGaA FRE | 1.0 % | −23.5 % | 58 |
| Commerzbank AG CBK | 0.9 % | −23.6 % | 66 |
Fair value and quality per position come from the same valuation as our stock pages. Showing the 25 largest of 40 disclosed positions. "n/a" means the position is not (yet) in our stock universe and does not enter the average.
The 10 most cheaply valued ETFs
Measured against the look-through fair value of the holdings (sufficiently covered funds only). Green means below fair value, red above. Not financial advice.
- 1 CHIU Global X MSCI China Utilities ETF +77.6 % below FV
- 2 MCHI iShares MSCI China ETF +44.7 % below FV
- 3 FLCH Franklin FTSE China ETF +43.7 % below FV
- 4 ITB iShares U.S. Home Construction ETF +33.8 % below FV
- 5 FCFY First Trust S&P 500 Diversified Free Cash Flow ETF +26.1 % below FV
- 6 VOX Vanguard Communication Services Index Fund ETF Shares +23.2 % below FV
- 7 XLC Communication Services Select Sector SPDR® Fund +21.5 % below FV
- 8 TAN Invesco Solar ETF +21.0 % below FV
- 9 FDNI First Trust Dow Jones International Internet ETF +19.0 % below FV
- 10 FDEM Fidelity® Emerging Markets Multifactor ETF +18.8 % below FV
Frequently asked about DAX
Is DAX overvalued?
What is the fair value of DAX?
How do you calculate the fair value of an ETF?
Which stocks drive the valuation of DAX?
What is the expense ratio of DAX?
How we value this ETF
An ETF has no fair value of its own like a single stock. We build it bottom up: every holding has a fair value and a quality score on our pages. Weighted by portfolio share, that gives Global X DAX Germany ETF an average of how cheap or expensive its companies currently sit versus fair value, and how high their average quality is.
As of: Oct 18, 2026
The look-through is a computed summary of public fundamentals and is no substitute for your own research.