The DAX (Deutscher Aktienindex (German stock index); ) is a stock market index consisting of the 40 major German blue chip companies trading on the Frankfurt Stock Exchange. It is a total return index. Prices are taken from the Xetra trading venue. According to Deutsche Börse, the operator of Xetra, DAX measures the performance of the Prime Standard's 40 largest German companies in terms of order book volume and market capitalization. DAX is the equivalent of the UK FTSE 100 and the US Dow Jones Industrial Average, and because of its small company selection it does not necessarily represent the vitality of the German economy as a whole.
The L-DAX Index is an indicator of the German benchmark DAX index's performance after the Xetra trading venue closes based on the floor trading at the Börse Frankfurt trading venue. The L-DAX Index basis is the "floor" trade (Parketthandel) at the Frankfurt stock exchange; it is computed daily between 09:00 and 17:45 Hours CET. The L/E-DAX index (Late/Early DAX) is calculated from 17:55 to 22:00 CET and from 08:00 to 09:00 CET. The Eurex, a European electronic futures and options exchange based in Zurich, Switzerland with a subsidiary in Frankfurt, Germany, offers options (ODAX) and Futures (FDAX) on the DAX from 01:10 to 22:00 CET or from 02:10 to 22:00 CEST.
The Base date for the DAX is 30 December 1987, and it was started from a base value of 1,000. The Xetra technology calculates the index every second since 1 January 2006.
On 24 Nov 2020, Deutsche Börse announced an expansion of the DAX from 30 to 40 members and a tightening of rules in response to the Wirecard accounting scandal. The expansion occurred in the 3rd quarter of 2021.
Versions The DAX has two versions, called performance index and price index, depending on whether dividends are counted. The performance index, which measures total return, is the more commonly quoted, however the price index is more similar to commonly quoted indexes in other countries.
Contract specifications DAX futures are traded on the Deutsche Borse Indices & ETF exchange (DBIndex). The contract specifications for the DAX Combined Index (ticker symbol DAXA) are listed below: +Contract SpecificationsDAX Combined Index (DAXA) Exchange: DBIndex Sector: Index Tick Size: 0.01Tick Value: 1 EUR Big Point Value (BPV): 100Denomination: EUR Decimal Place: 2
Price history On 16 March 2015, the performance index first closed above 12,000.
Record values CategoryAll-time highs Closing 26,569.99 Friday, 28 August 2026 Intraday 26,618.74Friday, 28 August 2026
Annual returns The following collapsible table shows the annual development of the DAX, calculated retroactively up to 1950. YearClosing levelChange in Indexin PointsChange in Indexin % 1950 30.18 −2.42 −7.42 1951 65.01 34.83 115.41 1952 59.75 −5.26 −8.09 1953 74.09 14.34 24.00 1954 135.28 61.19 82.59 1955 148.81 13.53 10.00 1956 137.80 −11.01 −7.40 1957 144.97 7.17 5.20 1958 232.23 87.26 60.19 1959 417.79 185.56 79.90 1960 534.09 116.30 27.84 1961 489.79 −44.30 −8.29 1962 386.32 −103.47 −21.13 1963 438.95 52.63 13.62 1964 477.89 38.94 8.87 1965 422.36 −55.53 −11.62 1966 333.36 −89.00 −21.07 1967 503.22 169.86 50.95 1968 555.62 52.40 10.41 1969 622.38 66.76 12.02 1970 443.86 −178.52 −28.68 1971 473.46 29.60 6.67 1972 536.36 62.90 13.29 1973 403.88 −132.48 −24.70 1974 401.79 −2.09 −0.52 1975 563.25 161.46 40.19 1976 509.02 −54.23 −9.63 1977 549.34 40.32 7.92 1978 575.15 25.81 4.70 1979 497.79 −77.36 −13.45 1980 480.92 −16.87 −3.39 1981 490.39 9.47 1.97 1982 552.77 62.38 12.72 1983 773.95 221.18 40.01 1984 820.91 46.96 6.07 1985 1,366.23 545.32 66.43 1986 1,432.25 66.02 4.83 1987 1,000.00 −432.25 −30.18 1988 1,327.87 327.87 32.79 1989 1,790.37 462.50 34.83 1990 1,398.23 −392.14 −21.90 1991 1,577.98 179.75 12.86 1992 1,545.05 −32.93 −2.09 1993 2,266.68 721.63 46.71 1994 2,106.58 −160.10 −7.06 1995 2,253.88 147.30 6.99 1996 2,888.69 634.81 28.17 1997 4,249.69 1,361.00 47.11 1998 5,002.39 752.70 17.71 1999 6,958.14 1,955.75 39.10 2000 6,433.61 −524.53 −7.54 2001 5,160.10 −1,273.51 −19.79 2002 2,892.63 −2,267.47 −43.94 2003 3,965.16 1,072.53 37.08 2004 4,256.08 290.92 7.34 2005 5,408.26 1,152.18 27.07 2006 6,596.92 1,188.66 21.98 2007 8,067.32 1,470.40 22.29 2008 4,810.20 −3,257.12 −40.37 2009 5,957.43 1,147.23 23.85 2010 6,914.19 956.76 16.06 2011 5,898.35 −1,015.84 −14.69 2012 7,612.39 1,714.04 29.06 2013 9,552.16 1,939.77 24.77 2014 9,805.55 253.39 2.65 2015 10,743.01 937.46 9.56 2016 11,481.06 738.05 6.87 2017 12,917.64 1,436.58 12.51 2018 10,558.96 −2,358.68 −18.26 2019 13,249.01 2,690.05 25.48 2020 13,718.78 469.77 3.55 2021 15,884.86 2,166.08 15.79 2022 13,923.59 −1,961.27 −12.35 2023 16,751.64 2,828.05 20.31 2024 19,909.14 3,157.50 18.85202524,490.414,581.2723.01
Components Below is the list of companies which are a component of the DAX 40, as of 22 September 2025. The current stock prices and list of DAX companies are available from financial websites. The index weighting refers to the DAX performance index.
Ticker Logo Company Prime Standard Sector Index weighting (%) Employees Founded Adidas Apparel 2.5 62,035 (2024) 1924 Airbus Aerospace & Defence 6.1 126,495 (2021) 1970 Allianz Financial Services 8.4 156,626 (2024) 1890 BASF Chemicals 2.8 111,822 (2024) 1865 Bayer Pharmaceuticals 1.5 94,081 (2024) 1863 Beiersdorf Consumer goods 0.7 22,678 (2024) 1882 BMW Automotive 1.5 159,104 (2024) 1916 Brenntag Distribution 0.5 18,122 (2024) 1874 Commerzbank Financial Services 1.5 40,233 (2024) 1870 Continental Automotive 0.5 190,875 (2021) 1871 Daimler Truck Automotive 1.3 99,849 (2021) 2021 Deutsche Bank Financial Services 2.8 82,969 (2021) 1870 Deutsche Börse Financial Services 3.1 10,200 (2021) 1992 Deutsche Post Logistics 2.5 482,638 (2024) 1995 Deutsche Telekom Telecommunication 7.5 204,414 (2024) 1995 E.ON Utilities 1.8 72,242 (2024) 2000 Fresenius Healthcare 1.0 316,078 (2021) 1912 Fresenius Medical Care Healthcare 0.6 130,251 (2021) 1996 GEA Group Mechanical Engineering TBD 18,500 (2024) 1881 Hannover Re Insurance 1.0 3,346 (2021) 1966 Heidelberg Materials Construction Materials 1.5 51,209 (2021) 1874 Henkel Consumer Goods 0.8 52,450 (2021) 1876 Infineon Technologies Technology 2.7 50,280 (2021) 1999 Mercedes-Benz Group Automotive 2.5 175,000 (2024) 1926 Merck Pharmaceuticals 1.1 62,557 (2024) 1668 MTU Aero Engines Aerospace & Defence 1.1 10,833 (2022) 1934 Munich Re Financial Services 4.8 40,177 (2022) 1880 Porsche SE Automotive 0.4 882 (2021) 2007 Qiagen Biotech 0.5 5,765 (2024) 1984 Rheinmetall Aerospace & Defence 3.5 28,539 (2024) 1889 RWE Utilities 1.3 18,246 (2021) 1898 SAP Technology 14.0 109,972 (2024) 1972 Scout24 E-Commerce TBD 1,200 (2024) 2012 Siemens Industrials 10.7 327,000 (2024) 1847 Siemens Energy Energy technology 2.5 92,000 (2021) 2020 Siemens Healthineers Medical Equipment 0.9 66,000 (2021) 2020 Symrise Chemicals 0.7 11,276 (2021) 2003 Volkswagen Group Automotive 1.3 679,472 (2024) 1937 Vonovia Real Estate 1.1 15,900 (2022) 2001 Zalando E-Commerce 0.5 17,000 (2021) 2008
: Weightings as of 22 September 2025
Former DAX components
This table lists former DAX components and the companies which replaced them.
DateComponent excludedComponent includedReason for exclusion/ Comments03.09.1990Feldmühle NobelMetallgesellschaftTakeover of Feldmühle Nobel by Stora EnsoNixdorf GermanyPreussag (now TUI)Merged with Siemens to form Siemens-Nixdorf18.09.1995Deutsche BabcockSAPReplaced by SAP because of lower market capitalisation22.07.1996KaufhofMETROMerger of Kaufhof and Metro Cash & Carry23.09.1996ContinentalMünchener RückContinental was added back to the DAX on 22 September 2003, though it was demoted again in 2008 and added back again in 201218.11.1996MetallgesellschaftDeutsche TelekomIPO of Deutsche Telekom22.06.1998Bayerische Hypotheken-und WechselbankAdidasMerger of Vereinsbank and Hypobank to form HypoVereinsbankBayerische VereinsbankHypoVereinsbank21.12.1998Daimler-BenzDaimlerChrysler (now Daimler)Merger of Daimler-Benz with Chrysler22.03.1999DegussaDegussa-HülsMerger of Degussa AG with Hüls AG and renaming to Degussa-Hüls AG25.03.1999ThyssenThyssenKruppMerger of Thyssen and Krupp20.09.1999HoechstFresenius Medical CareMerger of Hoechst and Rhône-Poulenc with Aventis14.02.2000MannesmannEpcosTakeover of Mannesmann by Vodafone19.06.2000VebaE.ONMerger of Veba and Viag to form E.ONVIAGInfineon18.12.2000Degussa-HülsDegussaMerger of Degussa-Hüls AG and SKW Trostberg AG to new Degussa AG19.03.2001KarstadtQuelleDeutsche PostIPO of Deutsche Post23.07.2001Dresdner BankMLP Vz.Takeover of Dresdner Bank by Allianz23.09.2002DegussaAltanaInadequate market capitalisation23.12.2002EpcosDeutsche BörseFast-exit of Epcos, as Epcos' market capitalisation became inadequate.Deutsche Börse: Deutsche Börse ab dem 23. Dezember im DAX Pressemitteilung, 12. November 200222.09.2003MLPContinentalInadequate free float and market capitalisation.31.01.2005LanxessLanxess was spun off from Bayer, for calculating reasons added to the DAX as a temporary 31st component, and removed a day later. It was added to the DAX in 2012 and removed again in 2015.01.02.2005Lanxess19.12.2005HypoVereinsbankHypo Real EstateTakeover of HypoVereinsbank by UniCredit18.09.2006ScheringPostbankTakeover of Schering by Bayer18.06.2007AltanaMerckAfter the sale of Nycomed, inadequate market capitalisationFrankfurter Allgemeine Zeitung: Merck ersetzt Altana im DAX22.09.2008TUIK+SFast-entry of K+S, inadequate market capitalisation of TUIDeutsche Börse: K+S ersetzt TUI in DAX Pressemitteilung, 3 September 200822.12.2008ContinentalBeiersdorfFast-exit of Continental because of inadequate free-float market capitalisation after the acquisition by Schaeffler Group22.12.2008Hypo Real EstateSalzgitterFast-exit of Hypo Real Estate because of inadequate free-float market capitalisation after a stake by American investor JC Flowers, as well as huge decline in market capitalisation during the 2008 financial crisis23.03.2009Deutsche PostbankHannover ReFast-exit due to inadequate market capitalisationInfineon TechnologiesFresenius Vz21.09.2009Hannover ReInfineon TechnologiesInadequate market capitalisation21.06.2010SalzgitterHeidelbergCementInadequate market capitalisation24.09.2012MANContinentalInadequate free-float capitalisation after acquisition by Volkswagen24.09.2012MetroLanxessInadequate market capitalisation21.09.2015LanxessVonoviaInadequate market capitalisation21.03.2016K+SProSiebenSat.1 MediaInadequate market capitalisation19.03.2018ProSiebenSat.1 MediaCovestroInadequate market capitalisation24.09.2018CommerzbankWirecardInadequate market capitalisation23.09.2019ThyssenKruppMTU Aero EnginesInadequate market capitalisation22.06.2020Deutsche LufthansaDeutsche WohnenInadequate market capitalisation19.08.2020WirecardDelivery Heronew Insolvency Rule (section 5.1.1)22.03.2021BeiersdorfSiemens EnergyInadequate market capitalisation16.09.2021VitescoVitesco was spun off from Continental, for calculating reasons added to the DAX as a temporary 31st component, and removed a day later.17.09.2021Vitesco20.09.2021Airbus10 companies added to expand DAX to 40 componentsBrenntagHelloFreshPorsche SEPumaQiagenSartoriusSiemens HealthineersSymriseZalando29.10.2021Deutsche WohnenBeiersdorf10.12.2021Daimler TruckDaimler Truck was spun off from Mercedes-Benz, for calculating reasons added to the DAX as a temporary 41st component, and removed next trading day. It was added to the DAX again in 2022.13.12.2021Daimler Truck21.03.2022BeiersdorfDaimler TruckSiemens EnergyHannover Re20.06.2022Delivery HeroBeiersdorf19.09.2022HelloFreshSiemens Energy19.12.2022PumaPorscheInitial public offering of Porsche27.02.2023LindeCommerzbankDelisting of Linde on Frankfurt stock exchange20.03.2023Fresenius Medical CareRheinmetall27.12.2024Covestro AGFresenius Medical CareInadequate free-float capitalisation
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