EL43.DE vs. EL4A.DE
EL43.DE (Deka MSCI Europe MC UCITS ETF) and EL4A.DE (Deka DAX UCITS ETF) are both Europe Equities funds from Deka - EL43.DE tracks the MSCI Europe Mid Cap while EL4A.DE tracks the DAX®. Both are passively managed. Over the past 10 years, EL43.DE returned 8.48%/yr vs 8.89%/yr for EL4A.DE. A 0.78 correlation means they provide meaningful diversification when combined. EL43.DE charges 0.30%/yr vs 0.15%/yr for EL4A.DE.
Performance
EL43.DE vs. EL4A.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EL43.DE achieves a 7.83% return, which is significantly higher than EL4A.DE's 1.28% return. Both investments have delivered pretty close results over the past 10 years, with EL43.DE having a 8.48% annualized return and EL4A.DE not far ahead at 8.89%.
EL43.DE
- 1D
- 0.20%
- 1M
- 1.26%
- YTD
- 7.83%
- 6M
- 10.02%
- 1Y
- 15.49%
- 3Y*
- 14.70%
- 5Y*
- 7.18%
- 10Y*
- 8.48%
EL4A.DE
- 1D
- 0.51%
- 1M
- 1.96%
- YTD
- 1.28%
- 6M
- 3.93%
- 1Y
- 2.23%
- 3Y*
- 15.42%
- 5Y*
- 9.09%
- 10Y*
- 8.89%
EL43.DE vs. EL4A.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EL43.DE Deka MSCI Europe MC UCITS ETF | 7.83% | 23.35% | 7.52% | 14.30% | -19.19% | 21.35% | 4.43% | 31.27% | -13.55% | 14.21% |
EL4A.DE Deka DAX UCITS ETF | 1.28% | 22.57% | 18.09% | 19.52% | -12.77% | 15.21% | 3.01% | 24.61% | -18.58% | 12.49% |
Correlation
The correlation between EL43.DE and EL4A.DE is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2009 | 0.78 |
The correlation between EL43.DE and EL4A.DE has been stable across timeframes, ranging from 0.73 to 0.81 - a consistent structural relationship.
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Return for Risk
EL43.DE vs. EL4A.DE — Risk / Return Rank
EL43.DE
EL4A.DE
EL43.DE vs. EL4A.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Deka MSCI Europe MC UCITS ETF (EL43.DE) and Deka DAX UCITS ETF (EL4A.DE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| EL43.DE | EL4A.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.15 | ||
| Sortino ratioReturn per unit of downside risk | +1.54 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.04 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | 0.18 | +1.66 |
| Martin ratioReturn relative to average drawdown | 6.82 | 0.56 | +6.26 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EL43.DE | EL4A.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.28 | 0.14 | +1.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.40 | 0.52 | -0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.48 | 0.48 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.37 | +0.21 |
Drawdowns
EL43.DE vs. EL4A.DE - Drawdown Comparison
The maximum EL43.DE drawdown since its inception was -37.81%, smaller than the maximum EL4A.DE drawdown of -46.64%. Use the drawdown chart below to compare losses from any high point for EL43.DE and EL4A.DE.
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Drawdown Indicators
| EL43.DE | EL4A.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.81% | -46.64% | +8.83% |
Max Drawdown (1Y)Largest decline over 1 year | -8.37% | -12.34% | +3.97% |
Max Drawdown (3Y)Largest decline over 3 years | -13.65% | -15.89% | +2.24% |
Max Drawdown (5Y)Largest decline over 5 years | -29.37% | -26.76% | -2.61% |
Max Drawdown (10Y)Largest decline over 10 years | -37.81% | -38.68% | +0.87% |
Current DrawdownCurrent decline from peak | -1.88% | -2.29% | +0.41% |
Average DrawdownAverage peak-to-trough decline | -6.32% | -8.91% | +2.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.27% | 3.98% | -1.71% |
Volatility
EL43.DE vs. EL4A.DE - Volatility Comparison
The current volatility for Deka MSCI Europe MC UCITS ETF (EL43.DE) is 3.39%, while Deka DAX UCITS ETF (EL4A.DE) has a volatility of 5.14%. This indicates that EL43.DE experiences smaller price fluctuations and is considered to be less risky than EL4A.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EL43.DE | EL4A.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.39% | 5.14% | -1.75% |
Volatility (6M)Calculated over the trailing 6-month period | 9.78% | 12.97% | -3.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.02% | 16.09% | -4.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.64% | 17.18% | +0.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.59% | 18.36% | -0.77% |
EL43.DE vs. EL4A.DE - Expense Ratio Comparison
EL43.DE has a 0.30% expense ratio, which is higher than EL4A.DE's 0.15% expense ratio.
Dividends
EL43.DE vs. EL4A.DE - Dividend Comparison
EL43.DE's dividend yield for the trailing twelve months is around 2.19%, while EL4A.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EL43.DE Deka MSCI Europe MC UCITS ETF | 2.19% | 2.69% | 4.09% | 2.52% | 2.53% | 1.64% | 1.79% | 2.18% | 2.56% | 1.60% | 2.76% | 2.05% |
EL4A.DE Deka DAX UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.65% | 0.56% | 0.65% | 0.60% |
Frequently Asked Questions
EL43.DE and EL4A.DE have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EL4A.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EL4A.DE is cheaper with a 0.15% expense ratio, compared with 0.30% for EL43.DE.
EL43.DE tracks MSCI Europe Mid Cap, while EL4A.DE tracks DAX®. Their fees differ too: 0.30% for EL43.DE and 0.15% for EL4A.DE.
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