Deutsche Börse has added the DAXplus Maximum Dividend Index to its DAXplus strategy index family,...
Deutsche Börse has added the DAXplus Maximum Dividend Index to its DAXplus strategy index family, on which ETFlab has launched its DAXplus Maximum Dividend ETF.
The ETF is traded on the XTF segment of the Deutsche Börse and dividends are distributed.
The Maximum Dividend Index tracks the 20 companies represented in the HDAX which will pay a dividend in the next six months and have the highest expected dividend returns.
The return from the dividend strategy is based upon the announced or estimated dividend amount and the closing price of the equity at the time of selection. The HDAX comprises equities of all 110 companies from the DAX, MDAX, and TecDAX indices and tracks the largest equities from the Prime Standard.
Companies must have a free-float market capitalisation of at least €1bn and an average daily exchange turnover of €2m within the last three months. The higher the dividend return of a company, the higher its weighting in the index portfolio, with the maximum weighting limited to 10%. The index is reviewed and adjusted every third Friday in November and May.
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