DAX vs CAPE
Comparison between GLOBAL X DAX GERMANY ETF (DAX, ETF) and DOUBLELINE SHILLER CAPE U.S. EQUITIES ETF (CAPE, ETF).
DAX vs CAPE - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
Winner
DAX
$239M
CAPE
$238M
Expense Ratio
Winner
DAX
0.20%
CAPE
0.65%
Max Drawdown
DAX
48.57%
Winner
CAPE
22.43%
Sharpe Ratio
DAX
-0.09
Winner
CAPE
0.07
5Y Beta
DAX
0.78
Winner
CAPE
0.62
P/E Ratio
DAX
N/A
CAPE
26.26
Forward P/E
DAX
N/A
CAPE
21.24
5Y Dividends CAGR
DAX
-4.99%
CAPE
N/A
5Y EPS CAGR
DAX
N/A
CAPE
14.21%
Debt to Equity
DAX
N/A
CAPE
-15.69%
P/S Ratio
DAX
N/A
CAPE
2.43
P/B Ratio
DAX
N/A
CAPE
3.91
DAX vs CAPE - Holdings Comparison
DAX and CAPE have 1 common holdings. Overlap is -0.05%
DAX's top 25 holdings weight is 91.13%. CAPE's top 25 holdings weight is 49.57%.
| Rank | DAX | CAPE |
|---|---|---|
| #1 | SIEMENS AG (n/a) - 11.68% | AMAZON.COM INC (AMZN) - 7.16% |
| #2 | ALLIANZ SE (n/a) - 9.33% | TESLA INC (TSLA) - 4.65% |
| #3 | SAP SE (n/a) - 8.06% | META PLATFORMS INC CLASS A (META) - 3.36% |
| #4 | SIEMENS ENERGY AG ORDINARY SHARES (n/a) - 7.30% | ELI LILLY AND CO (LLY) - 3.33% |
| #5 | AIRBUS SE (n/a) - 6.72% | WELLTOWER INC (WELL) - 2.58% |
| #6 | INFINEON TECHNOLOGIES AG (n/a) - 5.47% | JOHNSON & JOHNSON (JNJ) - 2.49% |
| #7 | DEUTSCHE TELEKOM AG (n/a) - 5.37% | ALPHABET INC CLASS A (GOOGL) - 2.46% |
| #8 | MUNCHENER RUCKVERSICHERUNGS-GESELLSCHAFT AG (n/a) - 3.79% | PROLOGIS INC (PLD) - 2.32% |
| #9 | DEUTSCHE BANK AG (n/a) - 3.50% | ALPHABET INC CLASS C (GOOG) - 1.96% |
| #10 | DEUTSCHE POST AG (n/a) - 3.15% | ABBVIE INC (ABBV) - 1.67% |
| #11 | BAYER AG (n/a) - 2.81% | UNITEDHEALTH GROUP INC (UNH) - 1.51% |
| #12 | DEUTSCHE BOERSE AG (n/a) - 2.77% | THE HOME DEPOT INC (HD) - 1.42% |
| #13 | RHEINMETALL AG (n/a) - 2.66% | EQUINIX INC (EQIX) - 1.22% |
| #14 | BASF SE (n/a) - 2.57% | MERCK & CO INC (MRK) - 1.21% |
| #15 | E.ON SE (n/a) - 2.55% | DIGITAL REALTY TRUST INC (DLR) - 1.21% |
| #16 | RWE AG CLASS A (n/a) - 2.14% | SIMON PROPERTY GROUP INC (SPG) - 1.18% |
| #17 | MERCEDES-BENZ GROUP AG (n/a) - 1.89% | TAKE-TWO INTERACTIVE SOFTWARE INC (TTWO) - 1.16% |
| #18 | ADIDAS AG (n/a) - 1.89% | THE WALT DISNEY CO (DIS) - 1.14% |
| #19 | DAIMLER TRUCK HOLDING AG ORDINARY SHARES (n/a) - 1.29% | LIVE NATION ENTERTAINMENT INC (LYV) - 1.11% |
| #20 | HEIDELBERG MATERIALS AG (n/a) - 1.23% | AMERICAN TOWER CORP (AMT) - 1.10% |
| #21 | MTU AERO ENGINES AG (n/a) - 1.10% | ECHOSTAR CORP CLASS A (ECHO) - 1.09% |
| #22 | MERCK KGAA (n/a) - 1.05% | REALTY INCOME CORP (O) - 1.09% |
| #23 | FRESENIUS SE & CO KGAA (n/a) - 0.98% | OMNICOM GROUP INC (OMC) - 1.06% |
| #24 | BAYERISCHE MOTOREN WERKE AG (n/a) - 0.93% | NETFLIX INC (NFLX) - 1.05% |
| #25 | VONOVIA SE (n/a) - 0.90% | n/a (WBD) - 1.04% |
| Total Holdings | 44 | 194 |
DAX vs CAPE - Historical Returns
Returns include dividend reinvestment.
1M
DAX
-0.68%
Winner
CAPE
+3.03%
3M
DAX
+0.49%
Winner
CAPE
+0.68%
6M
DAX
-2.45%
Winner
CAPE
-0.06%
1Y
DAX
-0.24%
Winner
CAPE
+3.39%
5Y(CAGR)
Winner
DAX
+8.57%
CAPE
+7.62%
10Y(CAGR)
DAX
+9.14%
CAPE
N/A
Max(CAGR)
DAX
+7.29%
Winner
CAPE
+7.62%
DAX vs CAPE - Annual Returns (2014 - 2026)
Returns include dividend reinvestment.
| Year | DAX | CAPE |
|---|---|---|
| 2026 | -1.79% | +1.97% |
| 2025 | +39.76% | +9.55% |
| 2024 | +11.66% | +14.49% |
| 2023 | +22.59% | +28.01% |
| 2022 | -18.78% | -15.28% |
| 2021 | +7.01% | N/A |
| 2020 | +10.69% | N/A |
| 2019 | +22.46% | N/A |
| 2018 | -22.62% | N/A |
| 2017 | +28.23% | N/A |
| 2016 | +6.53% | N/A |
| 2015 | -3.62% | N/A |
| 2014 | +3.62% | N/A |
DAX vs CAPE Drawdown Comparison
The maximum drawdown for DAX was -45.59%, occurring on Mar 18, 2020. Recovery took 737 trading sessions.
The maximum drawdown for CAPE was -22.08%, occurring on Oct 12, 2022. Recovery took 312 trading sessions.
The current DAX drawdown is -5.37%. The current CAPE drawdown is -1.87%.
| Rank | DAX | CAPE |
|---|---|---|
| #1 | -45.59% Jan 24, 2018 - Dec 28, 2020 | -22.08% Apr 20, 2022 - Jul 19, 2023 |
| #2 | -39.93% Jun 7, 2021 - Mar 7, 2024 | -14.32% Nov 29, 2024 - Jul 1, 2025 |
| #3 | -24.76% Apr 6, 2015 - Apr 24, 2017 | -10.29% Jul 31, 2023 - Dec 1, 2023 |
| #4 | -16.03% Mar 18, 2025 - Apr 29, 2025 | -9.68% Feb 27, 2026 - Jul 7, 2026 |
| #5 | -14.82% Jan 27, 2026 - Mar 27, 2026 | -5.78% Jul 16, 2024 - Aug 21, 2024 |
| #6 | -9.10% Dec 1, 2014 - Feb 3, 2015 | -5.69% Mar 28, 2024 - Jul 2, 2024 |
| #7 | -8.58% Jul 9, 2025 - Jan 5, 2026 | -4.79% Sep 11, 2025 - Jan 9, 2026 |
| #8 | -8.10% May 15, 2024 - Aug 23, 2024 | -3.27% Dec 28, 2023 - Jan 30, 2024 |
| #9 | -7.43% Sep 27, 2024 - Jan 21, 2025 | -3.20% Jul 23, 2025 - Aug 22, 2025 |
| #10 | -6.23% Mar 27, 2024 - May 9, 2024 | -2.60% Aug 30, 2024 - Sep 16, 2024 |
| #11 | -5.67% Jan 8, 2021 - Mar 10, 2021 | -2.16% Jul 3, 2025 - Jul 22, 2025 |
| #12 | -4.04% Feb 3, 2015 - Feb 20, 2015 | -2.13% Apr 5, 2022 - Apr 20, 2022 |
| #13 | -3.67% Apr 16, 2021 - May 7, 2021 | -2.12% Jul 7, 2026 - Jul 8, 2026 |
| #14 | -3.63% Mar 2, 2015 - Mar 16, 2015 | -1.78% Sep 19, 2024 - Oct 14, 2024 |
| #15 | -3.62% Jun 5, 2025 - Jun 26, 2025 | -1.76% Jan 30, 2024 - Feb 2, 2024 |
Correlation
Correlation between DAX and CAPE is 0.95 which considered as a very strong positive correlation - the stocks move almost identically together.
0.95
-101
Dividend Comparison (2015 - 2026)
DAX vs CAPE dividend yield comparison.
| Year | DAX | CAPE |
|---|---|---|
| 2026 | 1.94% | 0.57% |
| 2025 | 1.47% | 1.39% |
| 2024 | 2.24% | 1.23% |
| 2023 | 2.48% | 1.01% |
| 2022 | 2.80% | 0.80% |
| 2021 | 2.65% | 0.00% |
| 2020 | 2.25% | 0.00% |
| 2019 | 2.47% | 0.00% |
| 2018 | 3.33% | 0.00% |
| 2017 | 1.73% | 0.00% |
| 2016 | 1.78% | 0.00% |
| 2015 | 1.41% | 0.00% |
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