Horizons ETFs has reduced the total expense ratio for the Horizons DAX Germany ETF (Nasdaq: DAX) from 0.45% to 0.20%, enhancing the fund’s affordability for investors wishing to track the German economy. The 25 basis point reduction represents a 55% decrease in the ETF’s cost to investors.

The cheapest Europe-listed ETF that tracks the DAX Index is the ComStage DAX UCITS ETF (Xetra: CBDAX) with a TER of 0.08%.

“Through the DAX ETF, investors across the board have access to what we believe to be the most promising economy in the eurozone: Germany,” said Garrett Paolella, managing director at Horizons ETFs. “With low geopolitical risk and a strong, export-driven economy, Germany appears to represent the premier opportunity for those seeking international exposure, with DAX serving as a transparent, and now cost-effective, way to access that growth potential.”

The fund launched in October 2014 and currently has $13.2 million in assets under management (AUM). It is the only US-listed ETF to track the DAX Index, which contains shares of the 30 largest and most liquid companies on the German equities market. As of 30 June 2017, the index has returned 15.0% year-to-date.

In Europe, investors can gain access to DAX performance for as little as 0.08% through the ComStage DAX UCITS ETF (Xetra: CBDAX). The fund has €680m in AUM. The largest Europe-listed ETF to track the DAX is the iShares Core DAX UCITS ETF (Xetra: DAXEX) with approximately €8.2 billion in AUM and a total expense ratio of 0.16%.