I am looking at possibly investing some in Germany. I looked through a couple different ways to get exposure and and looked through the DAX composition and performance and this seemed satisfactory to me, but I have some questions about what is the best way to invest in DAX as an American. I was looking at the Global X DAX Germany ETF (DAX:NASDAQ) and noticed that when compared to the index price in EUR, [the US ETF has underperformed by over 30pp](https://www.google.com/finance/quote/DAX:NASDAQ?sa=X&ved=2ahUKEwiPg9qN4LWMAxUn6ckDHbhNIfkQ3ecFegQIKRAX&window=5Y&comparison=INDEXDB%3ADAX%2CUSD-EUR). Looking at the chart, it makes sense that the US ETF outperformed until mid-2021, and then underperformed until mid-2022 because it matches periods when the EUR strengthened and then weakened against the USD, but at the end of 5Y USDEUR is basically at \~0% but the overall return is vastly different. Why did the US ETF not "catch up" after the EUR strengthened into 2023? What am I missing here? Also, is there any better way to get this exposure to DAX/Germany in general? Open to any ideas.
