MDAX
The German index of the 50 next-largest companies after the 40 DAX members.
In short
As of 8 October 2026The MDAX is a German stock index of 50 mid-sized companies that rank directly below the 40 DAX members. It is weighted by the market value of freely tradable shares, and dividends are treated as reinvested. Companies can move up and down between DAX, MDAX and SDAX. Below it is the SDAX with 70 smaller companies.
The MDAX contains 50 mid-sized companies that rank directly below the 40 members of the DAX. It is weighted by the market value of the free float, meaning the freely tradable shares. Like the DAX, it is a performance index: dividends are counted as reinvested.
Below it sits the SDAX with 70 smaller companies. If an MDAX company grows strongly it can move up into the DAX, while a weak DAX member can drop into the MDAX. The composition is reviewed regularly.
Example: the engine maker MTU was an MDAX member for years before it moved up into the DAX. Many MDAX firms are so-called hidden champions: little known to the public, but world leaders in a niche.
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Sources
As of 8 October 2026 · Educational content, not investment or tax advice.