STOXX and Nomura collaborate on launch of Nomura’s currency-unhedged EURO STOXX 50 and DAX ETFs

This marks the next step in the partnership between STOXX and Nomura following the introduction of two currency-hedged ETFs, tracking the European benchmarks, in 2022.

The EURO STOXX 50 Index represents the Eurozone’s biggest and most traded companies, offering diversified exposure to the region’s Supersector leaders. The DAX index tracks the performance of the 40 largest German companies listed on the Regulated Market of the Frankfurt Stock Exchange.

The launches come amid strong performance of both indices. The EURO STOXX 50 and DAX have climbed more than 20% in 2025^[1] as global investors turn to a region offering relatively lower valuations, sector diversification and early signs that the economy is shaking off years of low growth. Both indices currently command a combined EUR 71 billion invested in linked ETFs.^[2]

“We are delighted to strengthen our partnership with Nomura Asset Management, building on the success of our initial collaboration in 2022. The EURO STOXX 50 and DAX are among our most recognized and iconic benchmarks, providing accurate reflection of the economic exposures, capital markets and market dynamics of the Eurozone and Germany. Japanese investors continue to show strong interest in European benchmarks, and we are pleased to work closely with the Nomura team to further enhance access to these markets.”

– Axel Lomholt, General Manager at STOXX

“We are proud to have launched these ETFs with STOXX. Our products enable Japanese investors to invest in Eurozone’s companies and contribute to international diversification. We will continue to strive to expand the ETF market.”

– Tatsuya Yoshikawa, Head of ETF Solution Department at Nomura Asset Management

As opposed to the funds listed in 2022, the new ETFs do not hedge the investment’s exposure to the euro, meaning currency fluctuations will impact their performance for Japan-based investors. The euro has climbed 44% against the yen in the last five years^[3], increasing the value of yen-based investments in European assets.

[1] Gross returns in EUR through December 8, 2025.

[2] Source: STOXX. Data through October 2025.  

[3] Source: Yahoo. Data through December 8, 2025.

About STOXX 
STOXX® and DAX® indices comprise a global and comprehensive family of more than 18,000 strictly rules-based and transparent indices. Best known for the leading European equity indices EURO STOXX 50®, STOXX® Europe 600 and DAX®, the portfolio of index solutions consists of total market, benchmark, blue-chip, sustainability, thematic and factor-based indices covering a complete set of world, regional and country markets. STOXX and DAX indices are licensed to more than 550 companies around the world for benchmarking purposes and as underlyings for ETFs, futures and options, structured products, and passively managed investment funds. STOXX Ltd., part of the ISS STOXX group of companies, is the administrator of the STOXX and DAX indices under the European Benchmark Regulation. stoxx.com

About ISS STOXX 
ISS STOXX GmbH, through its group companies, is a leading provider of comprehensive and data-centric research and technology solutions that help capital market participants identify investment opportunities, detect qualitative and quantitative portfolio company risks, and meet evolving regulatory requirements. With roots dating back to 1985, we today deliver world-class benchmark and custom indices across asset classes and geographies and serve as a premier source of independent corporate governance, sustainability, cyber risk, and fund intelligence research, data, and related offerings. Our products and services give clients the scale and leverage they need to grow their business more effectively and efficiently. ISS STOXX, which is majority owned by Deutsche Börse Group, is comprised of more than 3,800 professionals operating across 30 global locations in 20 countries. Its approximately 5,500 clients include many of the world’s leading institutional investors who turn to ISS STOXX for its objective and varied offerings, as well as companies focused on ESG, cyber, and governance risk mitigation as a shareholder value enhancing measure. Clients rely on ISS STOXX’s expertise to help them make informed decisions to benefit their stakeholders. 

Legal disclaimer: 
STOXX Ltd., ISS STOXX GmbH, ISS STOXX Index GmbH, Deutsche Börse Group and their licensors, research partners or data providers do not make any warranties or representations, express or implied, including without limitation regarding 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 Ltd., ISS STOXX GmbH, ISS STOXX Index GmbH, 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. None of their products or services recommends, endorses, approves or otherwise expresses any opinion regarding any issuer, securities, financial products or trading strategies. 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 Ltd., ISS STOXX GmbH, ISS STOXX Index GmbH, Deutsche Börse Group or their licensors, research partners or data providers on the merits of that company and may not be relied on as such. 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 Ltd., ISS STOXX GmbH, ISS STOXX Index GmbH, Deutsche Börse Group or their licensors, research partners or data providers.