XENIX

What XENIX does

XENIX Strategie- und Wirtschaftsberatung GmbH & Co. KG is a Berlin-based, privately held German firm founded in 2009 by Dr. Markus Thomas that operates as the only provider of qualitative (as opposed to quantitative) ETF ratings in Europe. Its core product, the XENIX STARS system, evaluates 3,000+ ETFs — covering UCITS ETFs, Swiss ETFs, British index funds, and crypto basket trackers — on a 1-to-5 star scale across three dimensions: index quality, ETF structure, and exchange trading quality. Coverage extends to 100% of ETFs in the four largest European markets (Germany, UK, Italy, Switzerland) plus the Nordics. XENIX supplements the rating with a Basic/Satellite/Specialist categorization (approximately 25% of ETFs qualify as Basic/core building blocks), an ESG classification service that combines index analysis with SFDR Article 8/9 tagging, and ETF portfolio certification (a 4–6 week quality seal process). Rule-based portfolio strategies branded "Xenixfolio" combine the rating with mixed-asset allocation to fixed income and dividend markets. In 2025, XENIX entered index licensing by partnering with MarketVector Indexes to launch the Global Dynamic Dividends 500 and Ex-Banks 250 indices, with MarketVector acting as the regulated calculation agent and XENIX as the index sponsor.

The firm monetizes across several streams: B2B subscription access to the XENIX STARS database via SFTP (serving banks, ETF portals, platform providers, wealth managers, and asset managers), ESG classification (notably embedded in gettex exchange's public sustainable-ETF finder since fall 2022), modular advisory and best-practice workshops for ETF issuers and asset managers, long-term coaching for family offices and entrepreneurs on strategic asset allocation with ETFs, ETF portfolio certification (professional services engagement), direct-to-consumer book sales (the annual XENIX ETF Yearbook and investor books at €27.80 each, ordered by email), and nascent index licensing royalties on the Dynamic Dividends family. Distribution is anchored by the annual XENIX ETF Awards, a growing event program now spanning 10+ European countries plus Abu Dhabi/MENA, executed by a core team of three plus project-based external experts under the founder's direction. The legal entity is a GmbH & Co. KG registered at Amtsgericht Berlin-Charlottenburg (HRA 48310), and the firm is 100% independent and owner-managed.

Name

XENIX

Legal name

XENIX Strategie- und Wirtschaftsberatung GmbH & Co. KG

Website

https://xenix.eu

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

1–10 employees

Short description

XENIX is a Berlin-based, independent firm providing the only qualitative multi-dimensional ETF rating in Europe, covering 3,000+ ETFs across DACH, UK, Nordics, Italy, and beyond. It serves banks, ETF portals, asset managers, exchanges, ETF issuers, and family offices with ratings, ESG classification, certification, advisory, and proprietary dividend indices.

Ownership category

akta.pro rank

Product category

Financial Data and Analytics (ETF Research)

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

ESG/SRI & Climate ETFs (FSAAAFAJ)

akta.pro secondary industries

ESG Indexing & ESG ETFs (Rules-Based ESG Benchmarks and Passive Products) (FSAAALAE), Fund/Index-Linked Notes (ETF/Mutual Fund/Custom Index) (FSACAMAH)

Keywords

• ETF rating services
• Qualitative ETF analysis
• ESG ETF classification
• ETF portfolio certification
• Dividend index development

Headquarters

HQ city

Berlin

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. B2B ETF Rating Database Subscription: XENIX STARS ETF database provided to financial service providers, banks, ETF portals, and platform providers via online access (SFTP). This is a recurring subscription for data access.
2. ESG ETF Classification / Screener Service: ESG ETF classification service sold to financial intermediaries and exchanges (e.g., used by gettex exchange in 2023 and 2024).
3. Advisory & Coaching Services: Modular strategic advisory services for ETF providers, financial service providers, and banks; long-term coaching for company owners, self-employed, and family offices on ETF investing. Includes strategic asset allocation with ETFs, ongoing performance calculation, and portfolio reports.
4. ETF Portfolio Certification: Quality seal evaluation process for ETF portfolios (4–6 week evaluation including best practices workshop), sold to product providers, asset managers, and wealth offices.
5. Book Sales: Sale of the XENIX ETF Yearbook (annual publication, 60 pages) and ETF investor books ('ETF-Anlegerbuch' 2020, 'Erfolgreich und nachhaltig mit ETFs investieren!' 2025, €27.80 each).
6. Index Licensing (Dynamic Dividends): XENIX developed and publishes global Dynamic Dividends indices (Dividends 500, Dividends ex-Banks 250) in cooperation with MarketVector Indexes. Index calculation performed by MarketVector; XENIX acts as index sponsor.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

XENIX provides qualitative multi-dimensional ETF ratings (XENIX STARS) covering ~3,000 European ETFs across index, ETF structure, and exchange trading levels, delivered as a B2B database via SFTP to financial service providers, banks, and ETF portals. The company also offers an ESG ETF classification/screener service, Xenixfolio rules-based portfolio strategies, XENIX Quality Seals certification for ETFs and ETF portfolios, modular advisory and coaching services, and the co-developed Global Dynamic Dividends index family (with MarketVector Indexes).

Product overview

XENIX is an ETF rating and analysis company offering a platform of qualitative ETF evaluation services. The core product is the XENIX STARS ETF Rating system covering over 3,000 ETFs, complemented by Xenixfolio Strategies (rule-based portfolio approaches), the ESG ETF Classification Service for sustainable ETFs, and XENIX Quality Seals for certification. The company also publishes proprietary Global Dynamic Dividends Indexes (in partnership with MarketVector Indexes) and organizes the XENIX ETF Awards across 11 European markets. Additional offerings include Advisory & Coaching services, the annual XENIX ETF Jahrbuch publication, and educational webinars and workshops.

Differentiator

Problem solved

Functional benefit

Brands

• XENIX STARS: The qualitative ETF rating system of XENIX, rated on a scale of one to five stars
• Xenixfolio
• Dynamic Dividends
• XENIX ETF Awards

Products and services

• XENIX STARS ETF Rating Qualitative multi-dimensional rating of ~3,000 European ETFs (UCITS ETFs, Swiss ETFs, British index funds, traditional index funds, crypto basket trackers) on a 1-5 star scale, evaluating index quality, ETF structure, and exchange trading quality. Delivered as a B2B database via SFTP to financial service providers, banks, ETF portals, and platform providers.
• ESG ETF Classification Service (Screener) Classification service for sustainable ETFs that categorizes ESG ETFs by underlying index, SFDR Article 8/9 classification, climate categories, weighting method (market-cap vs ESG-weighted), and securities lending filter. Embedded in gettex exchange's public sustainable ETF finder.
• Xenixfolio Strategies Rules-based ETF portfolio strategies that combine the XENIX STARS qualitative ETF rating with mixed asset allocation across fixed income and dividend markets, using exclusively excellent-rated ETFs. Used for investment products and advisory recommendations.
• XENIX ETF Portfolio Quality Seal (Zertifizierung) Certification of ETF portfolios (e.g., ETF-Dachfonds, ETF Robo portfolios, ETF wealth-management portfolios, fondsgebundene Lebensversicherung ETF portfolios) via a 4-6 week evaluation including best-practice workshop. Sold to product providers, asset managers, and wealth offices.
• XENIX Advisory & Coaching Modular advisory services for ETF providers, financial service providers, and banks (advisory studies, bank/asset manager testing, best practice workshops) plus long-term coaching for company owners, self-employed, and family offices on ETF investing, including strategic asset allocation, ongoing performance calculation, and portfolio reports.
• Global Dynamic Dividends Indexes Global dividend stock indexes developed with MarketVector Indexes, including the Dividends 500 (~500 above-average dividend stocks) and the Dividends ex-Banks 250 (250 dividend stocks excluding bank stocks). Reconstituted quarterly with price momentum consideration; calculated in EUR with PR, NR, and GR variants. Licensed to ETF/ETP issuers.
• XENIX ETF Jahrbuch (ETF Yearbook) Annual 60-page print publication featuring XENIX STARS ratings on the largest 100 equity ETFs and 75 bond ETFs, providing comprehensive ETF market knowledge and quality checks. Sold at €27.80 (incl. VAT) per copy via direct email order with free shipping.
• ETF Investor Books Printed ETF investor books (e.g., 'ETF-Anlegerbuch' 2020, 'Erfolgreich und nachhaltig mit ETFs investieren!' 2025) sold at €27.80 (incl. VAT) per copy via direct email order with free shipping.
• XENIX Quality Seals for ETFs Quality certification awarded to individual ETFs achieving a minimum of 4 XENIX STARS (~top 30% qualitatively in their comparison category), enabling providers to communicate an independent quality signal to clients.

Quantifiable outcome

• Only ~1 in 4 ETFs (25%) are classified as Basic ETFs suitable as core portfolio building blocks
• +3 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Three partnerships are on record, tiered core and minor.

• MarketVector IndexescoreTechnology or Integration · 25 February 2025XENIX and MarketVector Indexes cooperate on the development and calculation of the XENIX Dynamic Dividends index family. MarketVector Indexes (a regulated benchmark administrator in Europe, BaFin-registered, based in Frankfurt and New York) calculates and publishes the XENIX Global Dynamic Dividends 500 Index (GDD5, launched February 2025) and the XENIX Global Dynamic Dividends Ex-Banks 250 Index (GDDXB, launched October 2025). MarketVector manages $55B+ in assets across 25+ ETP issuers.
• gettex exchangecoreGTM or Marketing Partner · 1 September 2022gettex exchange (Munich Stock Exchange) uses XENIX's ESG ETF classification service (screener) publicly on its website at gettex.de/etfs > sustainable-ETFs. The partnership provides visibility for XENIX's sustainable ETF data among retail investors in Germany. The service has been in use since fall 2022, renewed in 2023 and 2024.
• Sandro ConteminorImplementation/ SI/ Consulting PartnerSandro Conte works with XENIX on a project basis for the external calculation of Xenixfolio strategies, enabling the rule-based strategies to be used for investment products.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Sustainalytics (Morningstar): ESG and corporate governance research, ratings, and analytics firm owned by Morningstar, providing ESG risk ratings used by ETF issuers for sustainable fund classification. Comparable to XENIX's ESG ETF classification service in providing sustainable-investment classification data to ETF distributors.
• MarketVector Indexes: BaFin-registered benchmark administrator that calculates and publishes the XENIX Dynamic Dividends index family. Comparable as an index provider and partner in developing/serving dividend and thematic indices, with overlap in ETF index licensing.
• ETFGI: Independent research and consulting firm focused on the global ETF/ETP industry, providing industry data, reports, and advisory. Comparable to XENIX as a specialist independent research firm serving ETF issuers and the broader ETF ecosystem with European/global coverage.

Broad incumbents

• Lipper (LSEG): Fund classification, performance, and rating business owned by LSEG (formerly Refinitiv). Provides Lipper Leader ratings for mutual funds and ETFs globally. Comparable to XENIX in providing independent fund/ETF ratings and data to institutional clients.
• FactSet: Financial data and analytics platform serving asset managers, advisors, and ETF issuers with fund data, analytics, and research. Comparable to XENIX as a B2B data and research provider to ETF and wealth management intermediaries.
• MSCI: Global index provider and ESG ratings firm offering MSCI ESG Ratings, index licensing, and analytics to ETF issuers and institutional investors. Comparable to XENIX in providing benchmark indices and ESG classification that feed European ETF products.
• Morningstar: Global investment research and rating firm providing Morningstar Rating (star rating) for funds and ETFs, fund data, and analytics to financial intermediaries. Directly comparable to XENIX as a fund/ETF rating provider serving the same B2B buyer base, but with quantitative methodology and much broader product scope.
• Bloomberg Intelligence: Research arm of Bloomberg providing ETF and fund research, data, and ratings through the Bloomberg Terminal. Comparable to XENIX as a research/data provider to institutional ETF users, though with terminal-based distribution rather than SFTP/database subscription.

Direct peers

• Trackinsight: Independent ETF research and analytics platform covering European and global ETFs with proprietary scoring, flow data, and educational content. Directly comparable to XENIX as a European-focused independent ETF research/rating provider serving investors and intermediaries.
• JustETF: Leading European ETF portal providing ETF comparison, screening, and savings plan comparison across European ETFs. Directly comparable to XENIX as an independent European ETF data and comparison platform serving retail and intermediary users.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/xenixetfrating

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about XENIX