The DAX tracks 40 major companies listed on the Frankfurt Stock Exchange.
DAX is short for Deutscher Aktienindex, or German Stock Index. It is Germany’s best-known blue-chip share index and is operated by Qontigo, part of the Deutsche Börse Group. The index was introduced on 1 July 1988 with a base value of 1,000 points.
The DAX expanded from 30 constituents to 40 on 20 September 2021. Its components are selected under rules that consider factors including free-float market capitalization and trading eligibility. The index is commonly described as a performance index because its headline calculation includes reinvested dividends, unlike a price index that reflects share prices alone.
The DAX is not a list of every German public company, nor does it measure only companies whose business is inside Germany. Its constituents can earn substantial revenue worldwide. The MDAX is a related index for medium-sized companies, while the TecDAX focuses on technology companies.