Pleasant surprises come by way of the not-so-bad performances being turned in by Germany ETFs. German insurance giant Allianz, the parent company of PIMCO, slumped 6.2% in European trading on volume that was more than five times the daily average, leading Germany’s benchmark DAX lower.

However, the iShares MSCI Germany ETF (NYSEArca: EWG), the largest U.S.-listed Germany ETF, is off just a third of a percent despite an almost 7% weight to Allianz.

The DeutscheX-trackers MSCI Germany Hedged Equity Fund (NYSEArca: DBGR) also features an almost 7% weight to Allianz, but that ETF is trading modestly higher. DBGR’s rival, the WisdomTree Germany Hedged Equity Fund (NasdaqGM: DXGE), features a 6.7% weight to Allianz making the stock that ETF’s largest holding. DXGE is, however, trading slightly higher as well.

Deutsche X-trackers MSCI Germany Hedged Equity ETF

ETF Trends editorial team contributed to this post.