Soiling, which consists in the dust, dirt and particles accumulated on the surface of conventional or concentrator photovoltaic modules, absorbs, scatters, and reflects part of the incoming sunlight. Therefore, it reduces the amount of energy converted by the semiconductor solar cells. This work focuses on the effect of soiling on the performance of multi-junction (MJ) cells, widely used in concentrator photovoltaic (CPV) applications. Novel indexes, useful to quantify the spectral impact of soiling are introduced, and their meanings are discussed. The results of a one-year experimental investigation conducted in Spain are presented and are used to discuss how soiling impacts each of the subcells of a MJ cell, as well as in the cell current-matching. Ideal conditions for the mitigation of soiling are found in blue-rich environments, where the higher light intensity at the shorter wavelengths can limit the impact of soiling on the overall production of the CPV system.