Global X DAX Germany ETF

DAX

Market cap $269M

The tenuous ceasefire in Iran has the S&P 500 roaring back to life, reversing a month-long decline that put consumers and investors on edge. But the jump in U.S. stocks might have hidden the true beneficiaries: international stocks dependent on energy imports to sustain their economies.

As Europe confronts a new energy crisis, we explore key measures to strengthen energy security beyond simply lowering energy bills, and the potential implications for business leaders. Europe now relies on a wider range of suppliers, but paradoxically, the new geopolitical situation still leaves Europe vulnerable.

Shares in Europe are poised to open in mixed territory on Thursday, as the fragile truce agreed between the U.S. and Iran already shows signs of strain.

Europe stocks set for strong rebound as Trump says Iran war will end in weeks

Shares listed in Europe look set to move lower on Tuesday, as investors continue to monitor developments in the Middle East.

German retail sales rose slightly less than expected in December, increasing by 0.1% compared with the previous month, data showed on Monday.

The improvement was driven by a jump in economic and income expectations, as well as a higher willingness to buy among consumers, according to the survey.

The Global X DAX Germany ETF is the only US-listed ETF offering pure-play exposure to Germany's prime equity benchmark- the DAX. DAX isn't as popular as EWG, which covers the MSCI Germany Index, but it is more cost-efficient, has a better income profile, and has a superior track record of risk-adjusted returns. Valuations for DAX have re-rated to a 6-10% premium over developed markets and European stocks, while its yield is roughly only half as much as these other pockets.

Germany's export-driven economy faces severe headwinds from US tariffs, euro appreciation, and lost access to cheap Russian energy. German trade surpluses are shrinking, with 2025 exports to the US projected down 7% and overall trade surplus far below 2024 levels.

Germany is on course for the highest corporate insolvency count in more than a decade, raising fresh questions about the resilience of the nation's largest listed companies — and the ETFs that track them.