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DIVIDEND INDICES

DivDAX

Index Description

The DivDAX comprises the 15 DAX companies with the highest dividend yields. It provides investors with an objective and transparent yardstick for the performance of companies with high dividend yields. It is particularly suited to investors with more conservative investment strategies who want to hold their equities for longer and hope to achieve a high dividend yield.

Key facts

  • The DivDAX comprises the 15 companies with the highest dividend yields in the DAX, the German blue-chip index.
  • The index composition is reviewed once a year in September.
  • The index is free-float market capitalization weighted. • Components are capped at a maximum weight of 10% on a quarterly basis in March, June, September and December.

Descriptive Statistics

Index Market Cap (EUR ) Components (EUR ) Component weight (%) Turnover (%)
Full Free-float Mean Median Largest Smallest Largest Smallest Last 12 monts
DivDAX N/A N/A N/A N/A N/A N/A N/A N/A N/A
DAX N/A N/A N/A N/A N/A N/A N/A N/A N/A

Risk and return figures1

Index returns Return (%) Annualized return (%)
Last month YTD 1Y 3Y 5Y Last month YTD 1Y 3Y 5Y
DivDAX 2.1 3.1 4.7 -0.9 21.9 N/A N/A 4.8 -0.3 4.1
DAX 2.2 9.6 15.1 8.5 36.3 N/A N/A 15.4 2.8 6.4
Index volatility and risk Annualized volatility (%) Annualized Sharpe ratio2
DivDAX N/A N/A 12.4 18.0 22.3 N/A N/A 0.1 -0.1 0.1
DAX N/A N/A 11.6 17.5 21.0 N/A N/A 0.9 0.0 0.2
Index to benchmark Correlation Tracking error (%)
DivDAX 1.0 0.9 0.9 0.9 1.0 5.6 6.4 6.1 5.9 5.9
Index to benchmark Beta Annualized information ratio
DivDAX 1.0 0.9 0.9 1.0 1.0 -0.2 -1.5 -1.6 -0.5 -0.4

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

2Based on EURIBOR1M

(EUR, Price), all data as of August 30, 2024

DIVIDEND INDICES

DivDAX

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
DivDAX N/A N/A N/A N/A N/A N/A N/A N/A
DAX N/A N/A N/A N/A N/A N/A N/A N/A

Performance and annual returns

Methodology

The DivDAX contains the 15 companies with the highest dividend yields in DAX. For the component selection, the historical dividend yield and the average daily trading volume are considered. The historical dividend yields are calculated by dividing the distributed dividends by the closing price for the share concerned on the day preceding the ex-date. In addition, shares must demonstrate an average daily traded volume of EUR 250,000 for the last three months.
If an index member publicly announces that it will not pay a dividend at the upcoming dividend date, it is removed from the index at the next rebalancing date. A deleted component is replaced by the next highest-ranked non-component company in the most recent selection list that has not announced the cancellation of upcoming dividend payments. If a replacement cannot be determined, the component is removed without being replaced. If a company is removed from DAX, it will also be removed from DivDAX.
The detailed DivDAX index methodology can be found in the DAX Equity Index Methodology Guide.

The detailed index calculation formula can be found in the DAX Equity Index Calculation Guide.

Versions and symbols

Index ISIN Symbol Bloomberg Reuters
Total Return EUR DE000A0C33D1 DIVDAX DIVDAX INDEX .GSUL
Price EUR DE000A0C33C3 DDAXK DDAXK INDEX .GSUK
Net Return EUR DE000A4AHVT1 DDAXN DDAXN INDEX .DDAXN

Quick Facts

Weighting Free-float market cap
Cap Factor Blue-Chip
No. of components 0.1
Review frequency 15
Calculation/distribution Yearly
Calculation hours realtime, 15 sec
Base value/base date 9:00 - 18:00 CET
History 100 as of Sep. 20, 1999
Inception date N/A
Mar. 1, 2005

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.