STOXX has announced the results of the March regular review of the composition of the DAX® 50 ESG, DAX® 50 ESG+, DAX® 30 ESG, DAX® ESG Target, DAX® ESG Screened, MDAX® ESG+ and MDAX® ESG Screened indices, as well as of the benchmark DAX®. The actions listed below will be effective as of March 18 this year.
DAX 50 ESG
No changes
DAX 50 ESG+
| Additions: | Deletions: |
| Deutsche Post | Encavis |
| Vonovia | LEG Immobilien |
| Commerzbank |
DAX 30 ESG
| Addition: | Deletion: |
| Kion Group | Evotec |
DAX ESG Target
| Addition: | Deletion: |
| Knorr-Bremse | Evonik Industries |
DAX ESG Screened
No changes
MDAX ESG+
| Additions: | Deletion: |
| Morphosys | Vitesco Technologies |
| Befesa |
MDAX ESG Screened
| Additions: | Deletions: |
| Morphosys | Rational |
| Befesa | Vitesco Technologies |
DAX
No changes
Different strategies
The DAX 50 ESG combines negative screening and best-in-class ESG integration, and was developed as a broad-market ESG benchmark with a larger composition than that of the flagship DAX.1
The DAX 30 ESG excludes controversial companies from a starting universe, and from the largest remaining companies selects the 30 securities with the highest ESG Performance Score from ISS ESG.2
The DAX ESG Target follows an optimized weighting methodology whose objective is to improve the portfolio’s ESG score and decrease its carbon footprint relative to the benchmark, while limiting the tracking error.
The objective of the DAX ESG Screened index is to reflect the performance of the DAX after removing companies that fail screenings for global norms, controversial weapons, product involvement and a minimum ESG rating.
The DAX 50 ESG+ reflects the performance of the 50 highest ESG-ranked German companies after using sustainability exclusion filters.3
The MDAX ESG indices follow similar methodologies as the DAX ESG indices while tracking mid-cap companies.
The next regular review of the DAX ESG indices will take place on June 6, 2024.
1,2,3 The selection universe for these indices is the HDAX®.