Europe's third largest ETF issuer, DWS, ascends into Germany's MDAX index
DWS listed on the Frankfurt stock exchange in March 2018. As of March 24, 2025, DWS – which owns Xtrackers, Europe’s third largest ETF provider after iShares and Amundi - will be a constituent of the MDAX.
Xtrackers itself manages an ETF tracking the MDAX, the MDAX ESG Screened UCITS ETF 1D (XDGM), launched in 2014. It costs 0.40% and its largest holdings include engineer GEA Group, online marketplace Scout24, airline Lufthansa and meal delivery firm Delivery Hero.
The MDAX index has been a great long-term investment: it has been a ten-bagger up just over 1,000% since 1996, though unlike the large cap DAX 40, it remains about 20% below its peak reached in 2021.
It is not a unique situation for DWS to form part of its own ETFs. Though some ETF issuers such as Vanguard are privately owned, others such as Blackrock and Amundi have publicly listed equity that makes up part of various ETFs that they manage.
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