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 2 indices which are tracked by ETFs. Besides these indices, 4 alternative indices are available.
As further alternative, you can consider indices on the Eurozone.
Performance of German stocks (DAX®)
Indices in comparison
The best indices for ETFs on Germany
For an investment in the German stock market, there are 2 indices available which are tracked by 6 ETFs. On the DAX® index there are 5 ETFs. On the FTSE Germany All Cap index there is 1 ETF. The total expense ratio (TER) of ETFs on these indices is between 0.07% p.a. and 0.16% p.a..
| Index | Investment focus | Number of ETFs | Number of constituents | Short description |
|---|---|---|---|---|
DAX® | Germany | 5 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 |
FTSE Germany All Cap | Germany | 1 ETF | 154 (28.06.24) | The FTSE Germany All Cap index tracks large, mid and small cap securities from Germany. Index factsheet |
| ETF ISIN | Fund size in m CHF | TER in % | Use of profits | Fund domicile | Replication method | |
|---|---|---|---|---|---|---|
| iShares Core DAX® UCITS ETF (DE) EUR (Acc)DE0005933931 | 7,925 | 0.16% p.a. | Accumulating | Germany | Full replication | |
| Xtrackers DAX UCITS ETF 1CLU0274211480 | 6,054 | 0.09% p.a. | Accumulating | Luxembourg | Full replication | |
| Amundi Core DAX UCITS ETF DistLU2611732046 | 1,379 | 0.08% p.a. | Distributing | Luxembourg | Full replication | |
| Amundi DAX II UCITS ETF AccLU0252633754 | 1,106 | 0.15% p.a. | Accumulating | Luxembourg | Full replication | |
| Vanguard Germany All Cap UCITS ETF (EUR) DistributingIE00BG143G97 | 236 | 0.07% p.a. | Distributing | Ireland | Full replication | |
| Amundi DAX II UCITS ETF DistLU2090062436 | 71 | 0.15% p.a. | Distributing | Luxembourg | Full replication |
| Index | 1 month in % | 3 months in % | 6 months in % | 1 year in % | 3 years in % | |
|---|---|---|---|---|---|---|
| FTSE Germany All Cap | -0.51% | -1.87% | -2.82% | 18.49% | 48.42% | |
| DAX® | -0.79% | -0.80% | -1.00% | 20.95% | 53.79% |
| Index | 2025 in % | 2024 in % | 2023 in % | 2022 in % | 2021 in % | |
|---|---|---|---|---|---|---|
| FTSE Germany All Cap | 16.55% | 18.14% | 12.09% | -21.43% | 8.43% | |
| DAX® | 18.39% | 20.01% | 12.40% | -17.21% | 10.00% |
Source: justETF.com; As of 30.11.25; Calculations in CHF based on the largest ETF of the respective index.
The best Germany ETFs
by 1 year return
| 1 | Amundi Core DAX UCITS ETF Dist | 23.34% |
| 2 | Amundi DAX II UCITS ETF Dist | 23.27% |
| 3 | Amundi DAX II UCITS ETF Acc | 23.26% |
The cheapest Germany ETFs
by total expense ratio (TER)
| 1 | Vanguard Germany All Cap UCITS ETF (EUR) Distributing | 0.07% p.a. |
| 2 | Amundi Core DAX UCITS ETF Dist | 0.08% p.a. |
| 3 | Xtrackers DAX UCITS ETF 1C | 0.09% p.a. |
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 4 alternative indices on Germany tracked by 8 ETFs. The total expense ratio (TER) of ETFs on these alternative indices is between 0.15% p.a. and 0.51% p.a..
| Index | Investment focus | Number of ETFs | Number of constituents | Short description |
|---|---|---|---|---|
| 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 |
| DivDAX® | Germany Dividend | 2 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 | 2 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 |
| TecDAX® | Germany Technology | 2 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 CHF | TER in % | Use of profits | Fund domicile | Replication method | |
|---|---|---|---|---|---|---|
| iShares MDAX UCITS ETF (DE)DE0005933923 | 1,952 | 0.51% p.a. | Accumulating | Germany | Full replication | |
| Invesco MDAX UCITS ETF AIE00BHJYDV33 | 1,070 | 0.19% p.a. | Accumulating | Ireland | Optimized sampling | |
| iShares TecDAX UCITS ETF (DE)DE0005933972 | 588 | 0.51% p.a. | Accumulating | Germany | Full replication | |
| iShares DivDAX UCITS ETF (DE)DE0002635273 | 517 | 0.31% p.a. | Distributing | Germany | Full replication | |
| Amundi DAX 50 ESG II UCITS ETF DistDE000ETF9090 | 261 | 0.15% p.a. | Distributing | Germany | Full replication | |
| Amundi DIVDAX UCITS ETF DistLU2611731741 | 76 | 0.25% p.a. | Distributing | Luxembourg | Full replication | |
| Amundi TecDAX UCITS ETF DistDE000ETF9082 | 72 | 0.40% p.a. | Distributing | Germany | Full replication | |
| Amundi DAX 50 ESG UCITS ETF DR (C)LU2240851688 | 32 | 0.15% p.a. | Accumulating | Luxembourg | Full replication |
| Index | 1 month in % | 3 months in % | 6 months in % | 1 year in % | 3 years in % | |
|---|---|---|---|---|---|---|
| TecDAX® | -1.24% | -3.64% | -7.13% | 4.14% | 8.44% | |
| MDAX® | 0.53% | -1.73% | -2.63% | 13.10% | 8.88% | |
| DivDAX® | 3.58% | 1.98% | 3.17% | 18.14% | 30.30% | |
| DAX® 50 ESG+ | 1.09% | -0.60% | -0.35% | 20.25% | 46.92% |
| Index | 2025 in % | 2024 in % | 2023 in % | 2022 in % | 2021 in % | |
|---|---|---|---|---|---|---|
| TecDAX® | 3.70% | 3.38% | 6.75% | -29.45% | 15.45% | |
| MDAX® | 15.65% | -5.10% | 1.51% | -32.48% | 7.91% | |
| DAX® 50 ESG+ | 15.98% | 16.93% | 12.50% | -19.21% | 9.79% | |
| DivDAX® | 17.36% | 6.01% | 10.07% | -15.33% | 8.76% |
Source: justETF.com; As of 30.11.25; Calculations in CHF 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 3 indices on the Eurozone tracked by 23 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 | 299 (28.06.24) | 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) | 15 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) | 7 ETFs | 223 (28.11.25) | The MSCI EMU index tracks large and mid cap stocks from countries in the European Economic and Monetary Union. Index factsheet |
| ETF ISIN | Fund size in m CHF | TER in % | Use of profits | Fund domicile | Replication method | |
|---|---|---|---|---|---|---|
| iShares EURO STOXX 50 UCITS ETF (DE)DE0005933956 | 7,829 | 0.09% p.a. | Distributing | Germany | Full replication | |
| iShares Core EURO STOXX 50 UCITS ETF EUR (Acc)IE00B53L3W79 | 6,319 | 0.10% p.a. | Accumulating | Ireland | Full replication | |
| Xtrackers EURO STOXX 50 UCITS ETF 1CLU0380865021 | 5,648 | 0.09% p.a. | Accumulating | Luxembourg | Full replication | |
| iShares Core MSCI EMU UCITS ETF EUR (Acc)IE00B53QG562 | 5,292 | 0.12% p.a. | Accumulating | Ireland | Full replication | |
| Xtrackers EURO STOXX 50 UCITS ETF 1DLU0274211217 | 5,039 | 0.09% p.a. | Distributing | Luxembourg | Full replication | |
| iShares Core EURO STOXX 50 UCITS ETF EUR (Dist)IE0008471009 | 4,587 | 0.10% p.a. | Distributing | Ireland | Full replication | |
| Amundi EURO STOXX 50 II UCITS ETF AccFR0007054358 | 3,398 | 0.20% p.a. | Accumulating | France | Full replication | |
| UBS Core MSCI EMU UCITS ETF EUR accLU0950668870 | 3,099 | 0.12% p.a. | Accumulating | Luxembourg | Full replication | |
| Amundi Core EURO STOXX 50 UCITS ETF EUR AccLU1681047236 | 2,833 | 0.09% p.a. | Accumulating | Luxembourg | Full replication | |
| iShares EURO STOXX UCITS ETF (DE)DE000A0D8Q07 | 2,536 | 0.20% p.a. | Distributing | Germany | Full replication | |
| Xtrackers MSCI EMU UCITS ETF 1DLU0846194776 | 1,962 | 0.12% p.a. | Distributing | Luxembourg | Full replication | |
| UBS Core MSCI EMU UCITS ETF EUR disLU0147308422 | 1,417 | 0.12% p.a. | Distributing | Luxembourg | Full replication | |
| HSBC EURO STOXX 50 UCITS ETF EURIE00B4K6B022 | 1,215 | 0.05% p.a. | Distributing | Ireland | Full replication | |
| Invesco EURO STOXX 50 UCITS ETFIE00B60SWX25 | 1,102 | 0.05% p.a. | Accumulating | Ireland | Unfunded swap | |
| Amundi Core EURO STOXX 50 UCITS ETF EUR DistLU1681047319 | 763 | 0.09% p.a. | Distributing | Luxembourg | Full replication | |
| BNP Paribas Easy EURO STOXX 50 UCITS ETFFR0012739431 | 654 | 0.10% p.a. | Accumulating | France | Full replication | |
| Amundi Core MSCI EMU UCITS ETF DistLU1646360971 | 625 | 0.12% p.a. | Distributing | Luxembourg | Full replication | |
| UBS EURO STOXX 50 UCITS ETF EUR disLU0136234068 | 606 | 0.09% p.a. | Distributing | Luxembourg | Full replication | |
| BNP Paribas Easy EURO STOXX 50 UCITS ETFFR0012740983 | 579 | 0.10% p.a. | Distributing | France | Full replication | |
| SPDR MSCI EMU UCITS ETFIE00B910VR50 | 284 | 0.18% p.a. | Accumulating | Ireland | Full replication | |
| UBS ETF (LU) MSCI EMU UCITS ETF (EUR) A-UKdisLU1107559376 | 105 | 0.12% p.a. | Distributing | Luxembourg | Full replication | |
| Invesco EURO STOXX 50 UCITS ETF DistIE00B5B5TG76 | 55 | 0.05% p.a. | Distributing | Ireland | Unfunded swap | |
| Amundi Core EURO STOXX 50 UCITS ETF USD AccLU1681047400 | 31 | 0.09% p.a. | Accumulating | Luxembourg | Full replication |
| Index | 1 month in % | 3 months in % | 6 months in % | 1 year in % | 3 years in % | |
|---|---|---|---|---|---|---|
| EURO STOXX® 50 | 0.04% | 5.77% | 5.99% | 21.48% | 47.64% | |
| MSCI EMU | 0.17% | 5.16% | 6.13% | 23.18% | 45.14% | |
| EURO STOXX® | 0.25% | 5.06% | 6.01% | 23.48% | 45.02% |
| Index | 2025 in % | 2024 in % | 2023 in % | 2022 in % | 2021 in % | |
|---|---|---|---|---|---|---|
| EURO STOXX® 50 | 18.47% | 13.11% | 15.46% | -13.45% | 17.52% | |
| MSCI EMU | 20.80% | 11.77% | 12.17% | -16.45% | 17.80% | |
| EURO STOXX® | 21.13% | 11.20% | 11.87% | -16.45% | 17.45% |
Source: justETF.com; As of 30.11.25; Calculations in CHF based on the largest ETF of the respective index.
