EL46.DE vs. DBX9.DE

Last updated Jun 26, 2026

EL46.DE (Deka MSCI China ex A Shares UCITS ETF) and DBX9.DE (Xtrackers FTSE China 50 UCITS ETF 1C) are both China Equities funds - EL46.DE tracks the MSCI China ex A Shares while DBX9.DE tracks the FTSE China 50. Both are passively managed. Over the past 10 years, EL46.DE returned 3.21%/yr vs 4.72%/yr for DBX9.DE. Their correlation of 0.90 suggests significant overlap in exposure. EL46.DE charges 0.66%/yr vs 0.60%/yr for DBX9.DE.

Performance

EL46.DE vs. DBX9.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Deka MSCI China ex A Shares UCITS ETF (EL46.DE) and Xtrackers FTSE China 50 UCITS ETF 1C (DBX9.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EL46.DE achieves a -17.60% return, which is significantly lower than DBX9.DE's 15.56% return. Over the past 10 years, EL46.DE has underperformed DBX9.DE with an annualized return of 3.21%, while DBX9.DE has yielded a comparatively higher 4.72% annualized return.

EL46.DE

• 1D: -2.12%
• 1M: -8.21%
• YTD: -17.60%
• 6M: -17.23%
• 1Y: -11.13%
• 3Y*: 4.39%
• 5Y*: -7.20%
• 10Y*: 3.21%

DBX9.DE

• 1D: 1.58%
• 1M: 4.42%
• YTD: 15.56%
• 6M: 17.29%
• 1Y: 39.69%
• 3Y*: 15.94%
• 5Y*: 0.61%
• 10Y*: 4.72%

*Multi-year figures are annualized to reflect compound growth (CAGR)

EL46.DE vs. DBX9.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	-17.60%	17.79%	27.58%	-14.48%	-13.58%	-21.81%	14.08%	27.30%	-16.05%	34.67%
DBX9.DE Xtrackers FTSE China 50 UCITS ETF 1C	15.56%	10.03%	37.71%	-16.44%	-13.64%	-14.99%	-0.86%	18.35%	-9.23%	18.88%

Correlation

The correlation between EL46.DE and DBX9.DE is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jun 29, 2010	0.90

Over the past year, the correlation between EL46.DE and DBX9.DE has dropped to 0.51 - well below their long-term average of 0.90, suggesting their price drivers have been diverging.

Return for Risk

EL46.DE vs. DBX9.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EL46.DE

EL46.DE Risk / Return Rank: 5
EL46.DE Sharpe Ratio Rank: 5
EL46.DE Sortino Ratio Rank: 5
EL46.DE Omega Ratio Rank: 5
EL46.DE Calmar Ratio Rank: 6
EL46.DE Martin Ratio Rank: 5

DBX9.DE

DBX9.DE Risk / Return Rank: 85
DBX9.DE Sharpe Ratio Rank: 85
DBX9.DE Sortino Ratio Rank: 83
DBX9.DE Omega Ratio Rank: 80
DBX9.DE Calmar Ratio Rank: 94
DBX9.DE Martin Ratio Rank: 85

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EL46.DE vs. DBX9.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 Xtrackers FTSE China 50 UCITS ETF 1C (DBX9.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	EL46.DE	DBX9.DE	Difference
Sharpe ratio: Return per unit of total volatility	-0.54	2.40	-2.94
Sortino ratio: Return per unit of downside risk	-0.66	3.22	-3.88
Omega ratio: Gain probability vs. loss probability	0.93	1.42	-0.49
Calmar ratio: Return relative to maximum drawdown	-0.42	5.97	-6.39
Martin ratio: Return relative to average drawdown	-0.98	15.49	-16.47

EL46.DE vs. DBX9.DE - Sharpe Ratio Comparison

The current EL46.DE Sharpe Ratio is -0.54, which is lower than the DBX9.DE Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of EL46.DE and DBX9.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EL46.DE vs. DBX9.DE - Drawdown Comparison

The maximum EL46.DE drawdown since its inception was -92.74%, which is greater than DBX9.DE's maximum drawdown of -66.51%. Use the drawdown chart below to compare losses from any high point for EL46.DE and DBX9.DE.

Drawdown Indicators

	EL46.DE	DBX9.DE	Difference
Max Drawdown Largest peak-to-trough decline	-92.74%	-66.51%	-26.23%
Max Drawdown (1Y) Largest decline over 1 year	-26.17%	-6.62%	-19.55%
Max Drawdown (3Y) Largest decline over 3 years	-26.17%	-27.85%	+1.68%
Max Drawdown (5Y) Largest decline over 5 years	-51.08%	-47.60%	-3.48%
Max Drawdown (10Y) Largest decline over 10 years	-58.22%	-53.99%	-4.23%
Current Drawdown Current decline from peak	-85.31%	-10.16%	-75.15%
Average Drawdown Average peak-to-trough decline	-85.83%	-29.44%	-56.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.32%	2.55%	+8.77%

Volatility

EL46.DE vs. DBX9.DE - Volatility Comparison

Deka MSCI China ex A Shares UCITS ETF (EL46.DE) has a higher volatility of 8.71% compared to Xtrackers FTSE China 50 UCITS ETF 1C (DBX9.DE) at 5.99%. This indicates that EL46.DE's price experiences larger fluctuations and is considered to be riskier than DBX9.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EL46.DE	DBX9.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.71%	5.99%	+2.72%
Volatility (6M) Calculated over the trailing 6-month period	15.96%	11.34%	+4.62%
Volatility (1Y) Calculated over the trailing 1-year period	20.59%	16.50%	+4.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.48%	27.23%	+4.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.56%	24.52%	+3.04%

EL46.DE vs. DBX9.DE - Expense Ratio Comparison

EL46.DE has a 0.66% expense ratio, which is higher than DBX9.DE's 0.60% expense ratio.

Dividends

EL46.DE vs. DBX9.DE - Dividend Comparison

EL46.DE's dividend yield for the trailing twelve months is around 1.68%, while DBX9.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBX9.DE Xtrackers FTSE China 50 UCITS ETF 1C	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	1.68%	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

Can I hold both EL46.DE and DBX9.DE in my portfolio?

EL46.DE and DBX9.DE have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EL46.DE or DBX9.DE?

On fees, DBX9.DE is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EL46.DE or DBX9.DE?

DBX9.DE is cheaper with a 0.60% expense ratio, compared with 0.66% for EL46.DE.

What is the main difference between EL46.DE and DBX9.DE?

EL46.DE tracks MSCI China ex A Shares, while DBX9.DE tracks FTSE China 50. They also come from different issuers: Deka Investment GmbH and Xtrackers. Their fees differ too: 0.66% for EL46.DE and 0.60% for DBX9.DE.