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BLUE CHIP INDICES

DAX Women Leadership

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Index Description

The DAX Women Leadership index selects 20 companies from the HDAX index based on their women leadership scores derived from ISS ESG data. The women leadership score is calculated as the average percentage of women on their supervisory board and in executive officer roles. The 20 companies with the highest scores are then chosen for the index, with free-float market capitalization used as a tie-breaker.

Key facts

  • The DAX Women Leadership composition is derived from its parent index, the HDAX index.
  • A unique score is calculated for remaining companies, averaging the percentage of women members on their supervisory board and women executive officers.
  • The index ultimately comprises the 20 highest-ranked companies based on their women leadership score.

Descriptive Statistics

Index Market Cap (EUR bn) Components (EUR bn) Component weight (%) Turnover (%)
Full Free-float Mean Median Largest Smallest Largest Smallest Last 12 monts
DAX Women Leadership 537.6 429.3 21.5 6.7 72.5 0.9 16.9 0.2 N/A
HDAX 2,408.3 1,901.6 18.1 4.8 198.0 0.3 10.4 0.0 5.8

Supersector weighting (top 10)

Country weighting

Risk and return figures1

Index returns Return (%) Annualized return (%)
Last month YTD 1Y 3Y 5Y Last month YTD 1Y 3Y 5Y
DAX Women Leadership 0.3 6.5 8.2 92.9 99.5 N/A N/A 8.4 25.2 15.0
HDAX 3.9 3.7 6.6 58.1 57.4 N/A N/A 6.8 17.0 9.6
Index volatility and risk Annualized volatility (%) Annualized Sharpe ratio2
DAX Women Leadership N/A N/A 16.6 14.8 17.2 N/A N/A 0.4 1.3 0.7
HDAX N/A N/A 16.2 15.4 17.3 N/A N/A 0.3 0.8 0.4
Index to benchmark Correlation Tracking error (%)
DAX Women Leadership 0.9 0.9 0.9 0.9 0.9 7.5 8.6 8.3 7.1 6.4
Index to benchmark Beta Annualized information ratio
DAX Women Leadership 1.0 0.9 0.9 0.9 0.9 -6.1 0.7 0.2 0.9 0.7

1For information on data calculation, please refer to STOXX calculation reference guide

2Based on EURIBOR1M

(EUR, Gross Return), all data as of May 29, 2026

BLUE CHIP INDICES

DAX Women Leadership

Fundamentals

Index Price/earnings incl. negative Price/earnings excl. negative Price/book Dividend yield (%)3 Price/sales Price/cash flow
Trailing Projected Trailing Projected Trailing Trailing Trailing
DAX Women Leadership 21.5 16.3 19.7 16.1 2.0 2.7 1.4 14.6
HDAX 20.3 16.2 18.3 15.9 2.0 2.6 1.1 20.7

Performance and annual returns

Methodology

The DAX Women Leadership Index reflects the performance of the 20 companies with the highest ratio of women in leadership positions within the HDAX. For each HDAX component, a women leadership score is calculated as the simple average of the percentage of women on the company’s supervisory board and the percentage of women executive officers, as identified by ISS Sustainability.

Versions and symbols

Index ISIN Symbol Bloomberg Reuters
Net Return EUR DE000A4AMXQ3 DAXWLN DAXWLN INDEX .DAXWLN
Price EUR DE000A4AMXP5 DAXWL DAXWL INDEX .DAXWL
Gross Return EUR DE000A4AMXR1 DAXWLG DAXWLG INDEX .DAXWLG

Quick Facts

Weighting Free-float market capitalization weighted
Cap Factor 0.15
No. of components 20
Review frequency Quarterly
Calculation/distribution Realtime 15 sec
Calculation hours 09:00:00 18:00:00
Base value/base date 1000 as of March 19, 2018
History Available from March 19, 2018
Inception date 2026-05-18 00:00:00
To learn more about the inception date, the currency, the calculation hours and historical values, please see our data vendor code sheet.

Top 10 Components4

Company Supersector Country Weight
SIEMENS ENERGY Industrials Germany 16.898%
ALLIANZ Finance, Insurance and Real Estate Germany 16.136%
DEUTSCHE TELEKOM Telecomunication Germany 13.307%
RHEINMETALL Industrials Germany 12.103%
DEUTSCHE BOERSE Finance, Insurance and Real Estate Germany 10.746%
MERCEDES-BENZ GROUP Consumer Goods Germany 8.752%
COMMERZBANK Finance, Insurance and Real Estate Germany 5.961%
MERCK Pharma and Healthcare Germany 3.940%
SIEMENS HEALTHINEERS Pharma and Healthcare Germany 3.026%
FRESENIUS MEDICAL CARE Pharma and Healthcare Germany 1.701%

3Net dividend yield is calculated as net return index return minus price index return

4Based on the composition as of May 29, 2026

CONTACT DETAILS

  • STOXX customer support
  • P +41 43 430 7272
  • customersupport@stoxx.com
  • https://stoxx.com/support/

DISCLAIMER

STOXX, Deutsche Börse Group and their licensors, research partners or data providers do not make any warranties or representations, express or implied, with respect to the timeliness, sequence, accuracy, completeness, currentness, merchantability, quality or fitness for any particular purpose of its index data and exclude any liability in connection therewith. STOXX, Deutsche Börse Group and their licensors, research partners or data providers are not providing investment advice through the publication of indices or in connection therewith. In particular, the inclusion of a company in an index, its weighting, or the exclusion of a company from an index, does not in any way reflect an opinion of STOXX, Deutsche Börse Group or their licensors, research partners or data providers on the merits of that company. Financial instruments based on the STOXX indices, DAX indices or on any other indices supported by STOXX are in no way sponsored, endorsed, sold or promoted by STOXX, Deutsche Börse Group or their licensors, research partners or data providers.

BACKTESTED PERFORMANCE

This document contains index performance data based on backtesting, i.e. calculations of how the index might have performed prior to launch if it had existed using the same index methodology and based on historical constituents. Backtested performance information is purely hypothetical and is provided in this document solely for information purposes. Backtested performance does not represent actual performance and should not be interpreted as an indication of actual performance.

CUSTOMIZATION

The index can be used as a basis for the definition of STOXX Customized Indices, which can be tailored to specific client or mandate needs. STOXX offers a wide range of customization, in terms of component selection, weighting schemes and personalized calculation methodologies.

CONTACT DETAILS

  • STOXX customer support
  • P +41 43 430 7272
  • customersupport@stoxx.com
  • https://stoxx.com/support/

DISCLAIMER

STOXX, Deutsche Börse Group and their licensors, research partners or data providers do not make any warranties or representations, express or implied, with respect to the timeliness, sequence, accuracy, completeness, currentness, merchantability, quality or fitness for any particular purpose of its index data and exclude any liability in connection therewith. STOXX, Deutsche Börse Group and their licensors, research partners or data providers are not providing investment advice through the publication of indices or in connection therewith. In particular, the inclusion of a company in an index, its weighting, or the exclusion of a company from an index, does not in any way reflect an opinion of STOXX, Deutsche Börse Group or their licensors, research partners or data providers on the merits of that company. Financial instruments based on the STOXX indices, DAX indices or on any other indices supported by STOXX are in no way sponsored, endorsed, sold or promoted by STOXX, Deutsche Börse Group or their licensors, research partners or data providers.

BACKTESTED PERFORMANCE

This document contains index performance data based on backtesting, i.e. calculations of how the index might have performed prior to launch if it had existed using the same index methodology and based on historical constituents. Backtested performance information is purely hypothetical and is provided in this document solely for information purposes. Backtested performance does not represent actual performance and should not be interpreted as an indication of actual performance.

CUSTOMIZATION

The index can be used as a basis for the definition of STOXX Customized Indices, which can be tailored to specific client or mandate needs. STOXX offers a wide range of customization, in terms of component selection, weighting schemes and personalized calculation methodologies.