Index that tracks the performance of the 50 largest companies following the DAX stocks on the Regulated Market.

The MDAX has been calculated since January 19, 1996 and contains the 50 largest companies by market capitalization below the DAX stocks. The basis of calculation is December 30, 1987, with a value of 1,000 points.

The index composition is reviewed every six months and adjusted with effect from March and September. The criteria for weighting shares in MDAX are market capitalization based on free float.

From December 2020 to September 2021, the composition rules have been comprehensively revised. With the expansion of the DAX to 40 companies, the MDAX has been reduced to 50 stocks.  An overview of the index reform is available at 

Price data on the MDAX and the stocks included can be found at, details on index adjustments at in the Know-how  section.

Our glossary explains important financial terms and should not leave any questions unanswered. However, if you are missing a definition, please write to us at We will then include the term if possible.