How to invest in Germany using ETFs

How do I invest in German stocks?

The easiest way to invest in the whole German stock market is to invest in a broad market index. This can be done at low cost by using ETFs.

On the German stock market you'll find 4 indices which are tracked by ETFs. Besides these indices, 8 alternative indices are available.

As further alternative, you can consider indices on the Eurozone.

0.08% p.a. - 0.16% p.a.
annual total expense ratio (TER) of Germany ETFs
on the German stock market, which are tracked by ETFs
on the German stock market
 
The best indices for Germany ETFs

Performance of German stocks (DAX®)

1 month: 4.09%
1 year: 12.10%
3 years: 22.41%
5 years: 47.41%
 

Indices in comparison

The best indices for ETFs on Germany

For an investment in the German stock market, there are 4 indices available which are tracked by 13 ETFs. On the DAX® index there are 10 ETFs. On the F.A.Z. index there is 1 ETF. On the FTSE Germany All Cap index there is 1 ETF. On the Solactive Germany 30 index there is 1 ETF. The total expense ratio (TER) of ETFs on these indices is between 0.08% p.a. and 0.16% p.a..

Index Investment focus Number of ETFs Number of constituents Short description

DAX®

Germany 10 ETFs 40
The DAX® index tracks the 40 largest and most traded German stocks listed on the Prime Standard segment of the Frankfurt Stock Exchange.
Index factsheet

F.A.Z.

Germany 1 ETF 100
The F.A.Z index tracks the 100 largest German stock corporations, in terms of market capitalisation, that are traded on Deutsche Börse.
Index factsheet

FTSE Germany All Cap

Germany 1 ETF 164
(30.11.22)
The FTSE Germany All Cap index tracks large, mid and small cap securities from Germany.
Index factsheet

Solactive Germany 30

Germany 1 ETF 30
The Solactive Germany 30 index tracks the 30 largest companies in Germany based on free float market capitalization with weight restrictions of 10% per security.
Index factsheet
ETF
ISIN
  Fund size
in m EUR
TER
in %
Use of profits Fund domicile Replication method
iShares Core DAX UCITS ETF (DE)DE0005933931 5,812 0.16% p.a. Accumulating Germany Full replication
Xtrackers DAX UCITS ETF 1CLU0274211480 4,066 0.09% p.a. Accumulating Luxembourg Full replication
Deka DAX UCITS ETFDE000ETFL011 1,218 0.15% p.a. Accumulating Germany Full replication
Amundi DAX UCITS ETF DistLU2611732046 1,077 0.08% p.a. Distributing Luxembourg Full replication
Deka DAX (ausschüttend) UCITS ETFDE000ETFL060 795 0.15% p.a. Distributing Germany Full replication
Amundi Dax III UCITS ETF AccLU0252633754 643 0.15% p.a. Accumulating Luxembourg Full replication
Amundi ETF DAX UCITS ETF DRFR0010655712 607 0.10% p.a. Accumulating France Full replication
Vanguard Germany All Cap UCITS ETF DistributingIE00BG143G97 147 0.10% p.a. Distributing Ireland Full replication
Amundi F.A.Z. 100 UCITS ETF DistLU2611732129 86 0.15% p.a. Distributing Luxembourg Full replication
Xtrackers DAX UCITS ETF 1DLU1349386927 59 0.09% p.a. Distributing Luxembourg Full replication
Amundi Dax III UCITS ETF DistLU2090062436 53 0.15% p.a. Distributing Luxembourg Full replication
iShares Core DAX® UCITS ETF (DE) EUR (Dist)DE000A2QP331 18 0.16% p.a. Distributing Germany Full replication
Deka Germany 30 UCITS ETFDE000ETFL516 3 0.09% p.a. Distributing Germany Full replication
 
Index   1 month
in %
3 months
in %
6 months
in %
1 year
in %
3 years
in %
F.A.Z. 0.29% 12.73% -0.78% 5.92% 11.74%
FTSE Germany All Cap 0.46% 13.71% 1.77% 8.36% 12.86%
DAX® 0.89% 14.09% 2.69% 11.02% 23.68%
Solactive Germany 30 - - - - -
Index   2024
in %
2023
in %
2022
in %
2021
in %
2020
in %
F.A.Z. 0.29% 16.51% -17.93% 15.40% 1.28%
FTSE Germany All Cap 0.46% 19.22% -17.57% 13.36% 3.75%
DAX® 0.89% 19.54% -12.88% 15.24% 2.90%
Solactive Germany 30 - 19.91% -14.78% 13.70% 1.49%

Source: justETF.com; As of 31.01.24; Calculations in EUR based on the largest ETF of the respective index.

 

The cheapest Germany ETFs
by total expense ratio (TER)

Show all
Alternative investment opportunities

Germany indices on small and mid caps or dividend strategies

Alternatively, you can consider indices on small and mid caps, single sectors or dividend strategies. In order to compare the ETFs for the best German dividend strategies have a look at the Investment Guide on German Dividend Strategies. In total you can invest in 8 alternative indices on Germany tracked by 17 ETFs. The total expense ratio (TER) of ETFs on these alternative indices is between 0.15% p.a. and 0.70% p.a..

 
Index Investment focus Number of ETFs Number of constituents Short description
DAXplus® Maximum Dividend Germany
Dividend
1 ETF 25
The DAXplus® Maximum Dividend index tracks 25 German equities with the highest dividend yield.
Index factsheet
DAX® 50 ESG Germany
Social/Environmental
2 ETFs 50
The DAX® 50 ESG index tracks the 50 largest, most liquid German stocks that are classified as particularly sustainable according to ESG criteria (environmental, social and corporate governance). Companies involved in the production or trade of controversial weapons, tobacco, thermal coal and nuclear energy are categorically excluded.
Index factsheet
DAX® ex Financials 30 Germany
1 ETF 30
The DAX® ex Financials 30 index tracks the 30 largest and most traded German stocks listed on the Prime Standard segment of the Frankfurt Stock Exchange, excluding banks, financial services and insurance companies.
Index factsheet
DivDAX® Germany
Dividend
3 ETFs 15
The DivDAX® index tracks 15 stocks with the highest dividend yield within the DAX® index. The DAX® index tracks the largest and most traded German stocks listed on the Prime Standard segment of the Frankfurt Stock Exchange.
Index factsheet
MDAX® Germany
Mid Cap
5 ETFs 50
The MDAX® index tracks 50 German mid cap stocks which are listed on the Prime Standard segment of the Frankfurt Stock Exchange.
Index factsheet
MSCI Germany Climate Change ESG Select Germany
Social/Environmental
1 ETF 46
(30.11.22)
The MSCI Germany Climate Change ESG Select index tracks a selection of German companies filtered by ESG criteria (environmental, social and governance). The index weighting scheme takes into account the carbon emissions of the selected companies. The parent index is the MSCI Germany.
Index factsheet
SDAX® Germany
Small Cap
1 ETF 70
The SDAX® index tracks 70 German small cap stocks.
Index factsheet
TecDAX® Germany
Technology
3 ETFs 30
The TecDAX® index tracks the 30 largest and most traded technology companies which are listed on the Prime Standard segment of the Frankfurt Stock Exchange and rank below the DAX® Index in terms of size and turnover.
ETF
ISIN
  Fund size
in m EUR
TER
in %
Use of profits Fund domicile Replication method
iShares MDAX UCITS ETF (DE)DE0005933923 1,077 0.51% p.a. Accumulating Germany Full replication
iShares TecDAX UCITS ETF (DE)DE0005933972 759 0.51% p.a. Accumulating Germany Full replication
iShares DivDAX UCITS ETF (DE)DE0002635273 543 0.31% p.a. Distributing Germany Full replication
Deka MDAX UCITS ETFDE000ETFL441 341 0.30% p.a. Accumulating Germany Full replication
Amundi DAX 50 ESG II UCITS ETF DistDE000ETF9090 279 0.15% p.a. Distributing Germany Full replication
Deka DAXplus Maximum Dividend UCITS ETFDE000ETFL235 278 0.30% p.a. Distributing Germany Full replication
Invesco MDAX UCITS ETF AIE00BHJYDV33 216 0.19% p.a. Accumulating Ireland Optimized sampling
Deka MSCI Germany Climate Change ESG UCITS ETFDE000ETFL540 200 0.20% p.a. Distributing Germany Full replication
Amundi SDAX UCITS ETF DistLU2611732475 131 0.70% p.a. Distributing Luxembourg Full replication
Amundi TecDAX UCITS ETF DistDE000ETF9082 89 0.40% p.a. Distributing Germany Full replication
Amundi DIVDAX UCITS ETF DistLU2611731741 75 0.25% p.a. Distributing Luxembourg Full replication
Amundi DivDAX II UCITS ETF DistDE000ETF9033 61 0.25% p.a. Distributing Germany Full replication
Amundi MDAX UCITS ETF DistFR0011857234 55 0.20% p.a. Distributing France Unfunded swap
Deka DAX ex Financials 30 UCITS ETFDE000ETFL433 23 0.30% p.a. Distributing Germany Full replication
Amundi DAX 50 ESG UCITS ETF DR (C)LU2240851688 18 0.15% p.a. Accumulating Luxembourg Full replication
iShares MDAX® UCITS ETF (DE) EUR (Dist)DE000A2QP349 14 0.51% p.a. Distributing Germany Full replication
iShares TecDAX® UCITS ETF (DE) EUR (Dist)DE000A2QP323 7 0.51% p.a. Distributing Germany Full replication
 
Index   1 month
in %
3 months
in %
6 months
in %
1 year
in %
3 years
in %
MDAX® -4.38% 7.98% -9.56% -9.97% -17.80%
SDAX® -0.94% 8.95% 2.45% -4.46% -1.78%
DivDAX® -0.52% 9.92% -2.21% 4.39% 19.01%
TecDAX® 0.10% 17.31% 0.13% 4.42% -2.87%
DAX® ex Financials 30 -0.41% 12.98% -2.56% 4.95% 7.93%
DAX® 50 ESG 0.05% 14.46% 1.80% 8.53% 18.83%
MSCI Germany Climate Change ESG Select 0.39% 16.11% 3.41% 10.52% 5.21%
DAXplus® Maximum Dividend -0.84% 11.97% 1.98% 12.98% 10.41%
Index   2024
in %
2023
in %
2022
in %
2021
in %
2020
in %
MDAX® -4.38% 7.94% -29.16% 12.83% 8.51%
SDAX® -0.94% 5.76% -4.38% -8.02% 15.67%
DAXplus® Maximum Dividend -0.84% 26.53% -20.03% 9.01% -2.96%
DivDAX® -0.52% 17.08% -11.17% 13.68% 2.13%
DAX® ex Financials 30 -0.41% 16.32% -18.07% 13.59% 5.05%
DAX® 50 ESG 0.05% 19.64% -15.25% 14.82% -
TecDAX® 0.10% 13.52% -25.98% 20.72% 6.31%
MSCI Germany Climate Change ESG Select 0.39% 21.61% -23.71% 9.62% -

Source: justETF.com; As of 31.01.24; Calculations in EUR based on the largest ETF of the respective index.

 

Europe indices with a large share of Germany

Besides Germany ETFs you may consider ETFs on the European stock markets. In total, you can invest in 4 indices on the Eurozone tracked by 25 ETFs. The total expense ratio (TER) of ETFs on the Eurozone is between 0.05% p.a. and 0.20% p.a..

 
Index Investment focus Number of ETFs Number of constituents Short description
EURO STOXX® Europe
Germany: 26.60%
(30/11/2022)
1 ETF 290
(31.07.23)
The EURO STOXX® index tracks stocks from eurozone countries included in the STOXX® Europe 600 Index. The STOXX® Europe 600 index tracks large, mid and small capitalisation stocks from European developed countries.
Index factsheet
EURO STOXX® 50 Europe
Germany: 30.90%
(30/11/2022)
16 ETFs 50
The EURO STOXX® 50 index tracks the 50 largest companies in the eurozone.
Index factsheet
MSCI EMU Europe
Germany: 25.37%
(30/11/2022)
6 ETFs 227
(31.01.24)
The MSCI EMU index tracks large and mid cap stocks from countries in the European Economic and Monetary Union.
Index factsheet
Solactive GBS Developed Markets Eurozone Large & Mid Cap Europe
Germany: 24.40%
(30/11/2022)
2 ETFs 214
(31.08.23)
The Solactive GBS Developed Markets Eurozone Large & Mid Cap index tracks large and mid cap securities from Eurozone countries.
Index factsheet
ETF
ISIN
  Fund size
in m EUR
TER
in %
Use of profits Fund domicile Replication method
iShares EURO STOXX 50 UCITS ETF (DE)DE0005933956 6,209 0.10% p.a. Distributing Germany Full replication
iShares Core EURO STOXX 50 UCITS ETF EUR (Acc)IE00B53L3W79 3,979 0.10% p.a. Accumulating Ireland Full replication
iShares Core EURO STOXX 50 UCITS ETF EUR (Dist)IE0008471009 3,502 0.10% p.a. Distributing Ireland Full replication
Xtrackers EURO STOXX 50 UCITS ETF 1CLU0380865021 3,490 0.09% p.a. Accumulating Luxembourg Full replication
Xtrackers EURO STOXX 50 UCITS ETF 1DLU0274211217 3,289 0.09% p.a. Distributing Luxembourg Full replication
iShares Core MSCI EMU UCITS ETF EUR (Acc)IE00B53QG562 3,124 0.12% p.a. Accumulating Ireland Full replication
Amundi EURO STOXX 50 II UCITS ETF AccFR0007054358 2,709 0.20% p.a. Accumulating France Full replication
iShares EURO STOXX UCITS ETF (DE)DE000A0D8Q07 2,034 0.20% p.a. Distributing Germany Full replication
Amundi EURO STOXX 50 UCITS ETF EUR (C)LU1681047236 1,920 0.15% p.a. Accumulating Luxembourg Full replication
Xtrackers MSCI EMU UCITS ETF 1DLU0846194776 1,387 0.12% p.a. Distributing Luxembourg Full replication
Deka EURO STOXX 50 UCITS ETFDE000ETFL029 763 0.15% p.a. Distributing Germany Full replication
HSBC EURO STOXX 50 UCITS ETF EURIE00B4K6B022 652 0.05% p.a. Distributing Ireland Full replication
UBS ETF (LU) MSCI EMU UCITS ETF (EUR) A-disLU0147308422 484 0.12% p.a. Distributing Luxembourg Full replication
Amundi EURO STOXX 50 UCITS ETF DR - EUR (D)LU1681047319 472 0.07% p.a. Distributing Luxembourg Full replication
Invesco EURO STOXX 50 UCITS ETFIE00B60SWX25 458 0.05% p.a. Accumulating Ireland Unfunded swap
BNP Paribas Easy EURO STOXX 50 UCITS ETFFR0012739431 450 0.18% p.a. Accumulating France Full replication
UBS ETF (LU) EURO STOXX 50 UCITS ETF (EUR) A-disLU0136234068 448 0.09% p.a. Distributing Luxembourg Full replication
Amundi MSCI EMU UCITS ETF DistLU1646360971 425 0.12% p.a. Distributing Luxembourg Full replication
SPDR MSCI EMU UCITS ETFIE00B910VR50 199 0.18% p.a. Accumulating Ireland Full replication
BNP Paribas Easy EURO STOXX 50 UCITS ETFFR0012740983 130 0.18% p.a. Distributing France Full replication
Amundi Prime Eurozone UCITS ETF DR (C)LU2089238112 55 0.05% p.a. Accumulating Luxembourg Full replication
Amundi Prime Eurozone UCITS ETF DR (D)LU1931974429 42 0.05% p.a. Distributing Luxembourg Full replication
HSBC EURO STOXX 50 UCITS ETF EUR (Acc)IE000MWUQBJ0 41 0.05% p.a. Accumulating Ireland Full replication
Amundi MSCI EMU UCITS ETF AccLU1646361276 18 0.12% p.a. Accumulating Luxembourg Full replication
Invesco EURO STOXX 50 UCITS ETF DistIE00B5B5TG76 16 0.05% p.a. Distributing Ireland Unfunded swap
 
Index   1 month
in %
3 months
in %
6 months
in %
1 year
in %
3 years
in %
EURO STOXX® 1.95% 13.68% 3.15% 10.97% 33.25%
MSCI EMU 2.18% 13.85% 3.32% 11.17% 33.34%
Solactive GBS Developed Markets Eurozone Large & Mid Cap 2.07% 13.98% 3.42% 11.70% 37.45%
EURO STOXX® 50 2.95% 14.83% 4.50% 15.00% 45.24%
Index   2024
in %
2023
in %
2022
in %
2021
in %
2020
in %
EURO STOXX® 1.95% 18.99% -12.09% 22.41% 0.55%
Solactive GBS Developed Markets Eurozone Large & Mid Cap 2.07% 20.09% -12.01% 25.57% -
MSCI EMU 2.18% 19.29% -12.35% 23.17% -0.76%
EURO STOXX® 50 2.95% 22.79% -9.20% 23.49% -3.08%

Source: justETF.com; As of 31.01.24; Calculations in EUR based on the largest ETF of the respective index.