ATX index outperforms S&P 500 and DAX over three years

The Austrian ATX, the benchmark index of the Vienna Stock Exchange, has significantly outperformed major global indices including the S&P 500, MSCI World, and the German DAX over the last three years.

Including dividends, the ATX has grown by 140.5 percent over the past three years, more than double the 64.7 percent growth seen by the DAX. In 2025, the index saw a 52.2 percent gain, and in the first half of 2026, it rose by an additional 24.9 percent. Key drivers for this rally include highly profitable banks, relatively low international valuations, and a specific technology stock that increased in value more than fivefold.

Despite its strong performance, the index remains highly concentrated among its 20 members, with a few heavyweights heavily influencing its movement.