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STRATEGY INDICES

ShortDAX x7

Index Description

ShortDAX indices allow investor to participate directly in falling share prices. The performance of ShortDAX indices is inversely proportional to that of the German blue-chip index DAX. A negative change in DAX will result in the positive leveraged performance of ShortDAX and vice versa. In addition to inverse DAX performance, ShortDAX indices contain interest payments resulting from the investment strategy in the overnight rate times the leverage factor. The "x" in the index name represents the respective leverage factor of the ShortDAX index.

Key facts

  • The ShortDAX indices are an attractive investment not only in falling but also in sideways markets and periods where market trends are unclear.
  • ShortDAX indices with a leverage factor of -1, -2, -3, -4, -5, -6, -7, -8, -9 and -10 are available.
  • In addition to the leverage factor, ShortDAX indices include borrowing costs and earn a liquidity spread over overnight interest rates on short-sale proceeds and capital.

Descriptive Statistics

Index Market Cap (EUR ) Components (EUR ) Component weight (%) Turnover (%)
Full Free-float Mean Median Largest Smallest Largest Smallest Last 12 monts
ShortDAX x7 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
ShortDAX x7 -17.3 -50.4 -65.3 -93.4 -67.6 N/A N/A -66.2 -60.2 -20.6
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
ShortDAX x7 N/A N/A 81.6 122.1 41,568.9 N/A N/A -1.4 -0.8 0.0
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 (%)
ShortDAX x7 -1.0 -1.0 -1.0 -1.0 0.0 136.2 95.5 93.4 139.7 41,584.8
Index to benchmark Beta Annualized information ratio
ShortDAX x7 -7.0 -7.0 -7.0 -7.0 39.6 -2.1 -1.4 -1.4 -0.9 0.0

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

2Based on EURIBOR1M

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

STRATEGY INDICES

ShortDAX x7

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
ShortDAX x7 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 adjustment of leverage takes place daily or (in case of monthly adjustment) on each third Friday of a month. The leverage of ShortDAX indices is determined by the leverage factor and the interest factor. The respective leverage factor is the main driver of the return in the ShortDAX indices. This return is enhanced by the interest earned on proceeds from short-sales and capital, less the borrowing costs.
If a ShortDAX index loses more than 50 percent at any point during one day, the leverage effect will be adjusted ad-hoc and the calculation continued based on the DAX level prior to that time.
The detailed methodology including the calculation formula can be found in the DAX Strategy Index Guide.

Versions and symbols

Index ISIN Symbol Bloomberg Reuters
Price EUR DE000A1EXZJ8 SHRTDX7P SHRTDX7P INDEX .SHRTDX7P
Total Return EUR DE000A1EXZD1 SHRTDX7 SHRTDX7 INDEX .SHRTDX7

Quick Facts

Cap Factor Leveraged/Short

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.