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Blog Posts — December 7, 2023

Scout24, Jenoptik, Talanx among companies joining DAX ESG indices

STOXX has announced the results of the December regular review of the composition of the DAX® 50 ESGDAX® 50 ESG+DAX® ESG TargetDAX® ESG ScreenedMDAX® ESG+ and MDAX® ESG Screened indices, as well as of the benchmark  DAX®. The actions listed below will be effective as of December 18 this year.


No changes


Additions:        Evotec, Telefonica Deutschland

Deletions:        Deutsche Post, Commerzbank

DAX ESG Target

Additions:        Scout24, Talanx

Deletions:        Knorr-Bremse, Hugo Boss

DAX ESG Screened

No changes


Additions:        Jenoptik, Aroundtown, Krones, Siltronic

Deletions:        ProSiebenSat.1, Aixtron, Duerr, Befesa

MDAX ESG Screened

Additions:        Aroundtown, Krones, Siltronic, Jenoptik

Deletions:        Befesa, ProSiebenSat.1, Duerr


No changes

The DAX 50 ESG combines negative screening and best-in-class ESG integration, and was developed as a broad-market ESG benchmark with a larger composition than that of the flagship DAX.1 The DAX ESG Target follows an optimized weighting methodology whose objective is to improve the portfolio’s ESG score and decrease its carbon footprint relative to the benchmark, while limiting the tracking error.  

The objective of the DAX ESG Screened index is to reflect the performance of the DAX after removing companies that fail screenings for global norms, controversial weapons, product involvement and a minimum ESG rating. 

The DAX 50 ESG+ reflects the performance of the 50 highest ESG-ranked German companies after using sustainability exclusion filters.2

The MDAX ESG indices follow similar methodologies as the DAX ESG indices while tracking mid-cap companies. 

The next regular review of the DAX ESG indices will take place on March 6, 2024. 

1,2 The selection universe for these indices is the HDAX®.