EL46.DE vs. 36BZ.DE
EL46.DE (Deka MSCI China ex A Shares UCITS ETF) and 36BZ.DE (iShares MSCI China A UCITS ETF) are both China Equities funds - EL46.DE tracks the MSCI China ex A Shares while 36BZ.DE tracks the MSCI China A Inclusion. Both are passively managed. Over the past 10 years, EL46.DE returned 3.87%/yr vs 5.98%/yr for 36BZ.DE. A 0.67 correlation means they provide meaningful diversification when combined. EL46.DE charges 0.66%/yr vs 0.40%/yr for 36BZ.DE.
Performance
EL46.DE vs. 36BZ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EL46.DE achieves a -10.01% return, which is significantly lower than 36BZ.DE's 9.71% return. Over the past 10 years, EL46.DE has underperformed 36BZ.DE with an annualized return of 3.87%, while 36BZ.DE has yielded a comparatively higher 5.98% annualized return.
EL46.DE
- 1D
- -0.11%
- 1M
- -3.80%
- YTD
- -10.01%
- 6M
- -12.17%
- 1Y
- -2.40%
- 3Y*
- 6.90%
- 5Y*
- -5.27%
- 10Y*
- 3.87%
36BZ.DE
- 1D
- -0.75%
- 1M
- 1.74%
- YTD
- 9.71%
- 6M
- 12.94%
- 1Y
- 33.63%
- 3Y*
- 8.44%
- 5Y*
- -0.23%
- 10Y*
- 5.98%
EL46.DE vs. 36BZ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EL46.DE Deka MSCI China ex A Shares UCITS ETF | -10.01% | 17.77% | 27.71% | -14.54% | -13.52% | -21.82% | 14.00% | 27.42% | -16.05% | 34.69% |
36BZ.DE iShares MSCI China A UCITS ETF | 9.71% | 10.25% | 19.91% | -17.13% | -21.26% | 13.41% | 28.50% | 37.21% | -23.49% | 14.90% |
Correlation
The correlation between EL46.DE and 36BZ.DE is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Apr 15, 2015 | 0.67 |
The correlation between EL46.DE and 36BZ.DE shifts across timeframes, from 0.56 (1 year) to 0.67 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EL46.DE vs. 36BZ.DE — Risk / Return Rank
EL46.DE
36BZ.DE
EL46.DE vs. 36BZ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Deka MSCI China ex A Shares UCITS ETF (EL46.DE) and iShares MSCI China A UCITS ETF (36BZ.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.
| EL46.DE | 36BZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.23 | ||
| Sortino ratioReturn per unit of downside risk | -2.94 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.38 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | -0.11 | 5.10 | -5.21 |
| Martin ratioReturn relative to average drawdown | -0.24 | 13.77 | -14.01 |
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
| EL46.DE | 36BZ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.12 | 2.11 | -2.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.17 | -0.01 | -0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.14 | 0.27 | -0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.03 | +0.09 |
Drawdowns
EL46.DE vs. 36BZ.DE - Drawdown Comparison
The maximum EL46.DE drawdown since its inception was -58.21%, which is greater than 36BZ.DE's maximum drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for EL46.DE and 36BZ.DE.
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Drawdown Indicators
| EL46.DE | 36BZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.21% | -53.30% | -4.91% |
Max Drawdown (1Y)Largest decline over 1 year | -21.01% | -6.57% | -14.44% |
Max Drawdown (3Y)Largest decline over 3 years | -25.65% | -28.01% | +2.36% |
Max Drawdown (5Y)Largest decline over 5 years | -51.07% | -41.94% | -9.13% |
Max Drawdown (10Y)Largest decline over 10 years | -58.21% | -43.38% | -14.83% |
Current DrawdownCurrent decline from peak | -36.65% | -10.22% | -26.43% |
Average DrawdownAverage peak-to-trough decline | -22.26% | -30.19% | +7.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.96% | 2.44% | +7.52% |
Volatility
EL46.DE vs. 36BZ.DE - Volatility Comparison
Deka MSCI China ex A Shares UCITS ETF (EL46.DE) has a higher volatility of 8.28% compared to iShares MSCI China A UCITS ETF (36BZ.DE) at 5.55%. This indicates that EL46.DE's price experiences larger fluctuations and is considered to be riskier than 36BZ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EL46.DE | 36BZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.28% | 5.55% | +2.73% |
Volatility (6M)Calculated over the trailing 6-month period | 15.15% | 10.96% | +4.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.97% | 15.83% | +4.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.36% | 21.44% | +9.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.53% | 22.10% | +5.43% |
EL46.DE vs. 36BZ.DE - Expense Ratio Comparison
EL46.DE has a 0.66% expense ratio, which is higher than 36BZ.DE's 0.40% expense ratio.
Dividends
EL46.DE vs. 36BZ.DE - Dividend Comparison
EL46.DE's dividend yield for the trailing twelve months is around 1.52%, while 36BZ.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
36BZ.DE iShares MSCI China A UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EL46.DE Deka MSCI China ex A Shares UCITS ETF | 1.52% | 1.43% | 2.06% | 2.03% | 1.78% | 1.22% | 0.86% | 1.26% | 1.62% | 0.94% | 1.98% | 2.32% |
Frequently Asked Questions
EL46.DE and 36BZ.DE have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, 36BZ.DE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
36BZ.DE is cheaper with a 0.40% expense ratio, compared with 0.66% for EL46.DE.
EL46.DE tracks MSCI China ex A Shares, while 36BZ.DE tracks MSCI China A Inclusion. They also come from different issuers: Deka Investment GmbH and iShares. Their fees differ too: 0.66% for EL46.DE and 0.40% for 36BZ.DE.
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