Composition of the DAX 40

Publication date: March 19, 2025

content.featured_image_alt_text

The DAX 40 index is one of the leading stock indices in Europe, reflecting the performance of the 40 largest and most traded listed companies in Germany. Until September 2021, the index was known as the DAX 30, after which it was expanded to 40 companies. Understanding the composition of the DAX 40 is essential for investors seeking to understand the German economy and the dynamics of European stock markets.

Why is the composition of the DAX 40 important?

The composition of the DAX 40 index is of great importance to investors for several reasons:

Important indicator of the German economy: The DAX 40 reflects the performance of the 40 largest listed companies in Germany and is considered the country's main stock market index. As Germany is Europe's largest economy, the index serves as a key indicator of both national and broader European economic developments.
Basis for investment products: The DAX 40 is widely used as an underlying for various financial products, such as ETFs, index funds, and derivatives such as options and futures. This makes it easy for investors to invest in a well-diversified selection of leading German companies.
International influence: Many companies within the DAX 40 are multinational companies with global market positions, such as Siemens, SAP and Volkswagen. As a result, the index provides insight not only into the German economy but also into broader international trends and economic developments.

By properly understanding the composition of the DAX 40, investors can better anticipate opportunities within the German and European stock markets and benefit from the dynamics of the largest companies within the Eurozone.

Company	Sector	Estimated weighting	Want to know more?
Adidas	Consumer Goods	2.76%	Read here
Airbus Group	Aerospace	6.39%	Read here
Allianz	Insurance	8.09%	Read here
BASF	Chemicals	2.66%	Read here
Bayer	Healthcare	1.3%	Read here
Beiersdorf	Consumer Goods	0.81%	*follows*
BMW	Automobiles and parts	1.62%	Read here
Brenntag	Chemistry	0.52%	*follows*
Commerzbank	Banks	1.11%	*follows*
Continental	Automobiles and parts	0.49%	*follows*
Covestro	Manufacturing	0.23%	*follows*
Daimler Truck Holding	Cars and parts	1.49%	*follows*
Deutsche Bank	Banks	2.27%	*follows*
Deutsche Börse	Financial Services	2.98%	*follows*
DHL Group Deutsche Post	Logistics	2.35%	*follows*
Deutsche Telekom	Communication services	7.26%	*follows*
E.ON	Energy	1.63%	follows
Fresenius Medical Care	Healthcare	0.97%	*follows*
Hannover Rück	Insurance	1.03%	*follows*
Heidelberg Materials	Construction and materials	1.13%	follows
Henkel & Co.	Consumer goods	0.96%	follows
Infenion Technologies	Technology	2.87%	follows
Mercedes Benz Group	Automobiles and Parts	2.64%	follows
Merck KGaA	Healthcare	1.25%	follows
MTU Aero Engines AG	Aerospace	1.22%	*follows*
Munchener Rück	Insurance	4.63%	follows
Porsche AG Rev.	Automobiles and parts	0.45%	follows
Porsche Automobil Holding SE	Automobiles and parts	0.38%	follows
Qiagen NV	Healthcare	0.67%	follows
Rheinmetall AG	Aerospace	1.87%	follows
RWE AG	Energy	1.34%	follows
SAP SE	Technology	16.69%	follows
Sartorius AG	Medical technology	0.38%	follows
Siemens AG	Industry	9.98%	follows
Siemens Energy AG	Energy	2.36%	follows
Siemens Healthineers AG	Medical Devices	1.02%	follows
Symrise AG	Chemistry	0.9%	*follows*
Volkswagen AG	Automobiles and parts	1.28%	*follows*
Vonovia SE	Real estate	1.45%	follows
Zalando SE	E-commerce	0.55%	follows

The DAX 40 weightings as of December 20, 2024. These weightings will soon be updated to reflect a more up-to-date distribution by the company. The most recent version of Wikipedia was used as a reference for this compilation. You can view it at the following link: DAX

The DAX 40 is a market capitalization-weighted index, meaning that companies with higher market capitalization have a greater influence on index movements. The weighting of each company determines the extent to which a price movement contributes to the overall index change.

For example, Adidas has a weighting of 2% in the DAX 40. Thus, a 10% rise or fall in Adidas' share price would result in a 0.2% movement in the entire index. Similarly, a company with a higher weighting, such as SAP SE (10.1%), will have a much greater impact. A 10% rise in SAP would move the DAX 40 by 1.01%.

Stocks are eligible for inclusion in the DAX 40 index if they are among the 40 largest and most traded funds in Germany, ranked by the market capitalization of their freely traded shares. The DAX 40 is a market capitalization-weighted index, with restrictions on individual weightings to prevent a single company from having too great an impact on the index.

Disclaimer: Investing involves risk. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips provided on this website are based on our analysts' own insights and experiences. They are therefore for educational purposes only.