German stock market performance vs S&P 500

DAX vs. S&P isn’t a great comparison tbh

1) DAX is a total-return index that assumes all dividends are re-invested whereas the S&P is a price-return index so dividends are omitted. would be a more accurate comparison if both were the same type of index. the DAX is also much smaller with 40 German firms vs. 500 for the S&P.

2) this is more of a reflection on sector performance than EU vs. U.S. DAX is largely comprised of industrial/automotive firms (exports) whereas the S&P mostly reflects tech (services).

Stoxx Europe 600 makes much more sense as a point of comparison but of course doesn’t make for a very good “gotcha” social media post since they’re within ~ 5% of one another.