EL4A.DE vs. CEMS.DE
EL4A.DE (Deka DAX UCITS ETF) and CEMS.DE (iShares Edge MSCI Europe Value Factor UCITS ETF) are both Europe Equities funds - EL4A.DE tracks the DAX® while CEMS.DE tracks the MSCI Europe Enhanced Value. Both are passively managed. Over the past 10 years, EL4A.DE returned 8.89%/yr vs 10.71%/yr for CEMS.DE. Their correlation of 0.88 suggests significant overlap in exposure. EL4A.DE charges 0.15%/yr vs 0.25%/yr for CEMS.DE.
Performance
EL4A.DE vs. CEMS.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EL4A.DE achieves a 1.28% return, which is significantly lower than CEMS.DE's 13.72% return. Over the past 10 years, EL4A.DE has underperformed CEMS.DE with an annualized return of 8.89%, while CEMS.DE has yielded a comparatively higher 10.71% annualized return.
EL4A.DE
- 1D
- 0.51%
- 1M
- -0.07%
- YTD
- 1.28%
- 6M
- 3.34%
- 1Y
- 2.01%
- 3Y*
- 15.42%
- 5Y*
- 9.09%
- 10Y*
- 8.89%
CEMS.DE
- 1D
- 0.10%
- 1M
- 2.64%
- YTD
- 13.72%
- 6M
- 16.98%
- 1Y
- 32.08%
- 3Y*
- 21.63%
- 5Y*
- 14.47%
- 10Y*
- 10.71%
EL4A.DE vs. CEMS.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
CEMS.DE iShares Edge MSCI Europe Value Factor UCITS ETF | 13.72% | 35.97% | 9.93% | 13.90% | -4.54% | 26.62% | -8.86% | 23.48% | -14.04% | 10.16% |
Correlation
The correlation between EL4A.DE and CEMS.DE is 0.81, 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 | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2015 | 0.88 |
The correlation between EL4A.DE and CEMS.DE has been stable across timeframes, ranging from 0.81 to 0.88 - a consistent structural relationship.
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Return for Risk
EL4A.DE vs. CEMS.DE — Risk / Return Rank
EL4A.DE
CEMS.DE
EL4A.DE vs. CEMS.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Deka DAX UCITS ETF (EL4A.DE) and iShares Edge MSCI Europe Value Factor UCITS ETF (CEMS.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.
| EL4A.DE | CEMS.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.23 | ||
| Sortino ratioReturn per unit of downside risk | -2.95 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.43 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | 0.18 | 3.29 | -3.11 |
| Martin ratioReturn relative to average drawdown | 0.56 | 12.37 | -11.81 |
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
| EL4A.DE | CEMS.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.14 | 2.37 | -2.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | 0.94 | -0.42 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.48 | 0.61 | -0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.49 | -0.12 |
Drawdowns
EL4A.DE vs. CEMS.DE - Drawdown Comparison
The maximum EL4A.DE drawdown since its inception was -46.64%, which is greater than CEMS.DE's maximum drawdown of -40.20%. Use the drawdown chart below to compare losses from any high point for EL4A.DE and CEMS.DE.
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Drawdown Indicators
| EL4A.DE | CEMS.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.64% | -40.20% | -6.44% |
Max Drawdown (1Y)Largest decline over 1 year | -12.34% | -9.99% | -2.35% |
Max Drawdown (3Y)Largest decline over 3 years | -15.89% | -17.57% | +1.68% |
Max Drawdown (5Y)Largest decline over 5 years | -26.76% | -19.55% | -7.21% |
Max Drawdown (10Y)Largest decline over 10 years | -38.68% | -40.20% | +1.52% |
Current DrawdownCurrent decline from peak | -2.29% | -1.26% | -1.03% |
Average DrawdownAverage peak-to-trough decline | -8.91% | -7.49% | -1.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.98% | 2.66% | +1.32% |
Volatility
EL4A.DE vs. CEMS.DE - Volatility Comparison
Deka DAX UCITS ETF (EL4A.DE) has a higher volatility of 5.14% compared to iShares Edge MSCI Europe Value Factor UCITS ETF (CEMS.DE) at 4.65%. This indicates that EL4A.DE's price experiences larger fluctuations and is considered to be riskier than CEMS.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EL4A.DE | CEMS.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.14% | 4.65% | +0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 12.97% | 11.17% | +1.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.09% | 13.87% | +2.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.18% | 15.23% | +1.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.36% | 17.43% | +0.93% |
EL4A.DE vs. CEMS.DE - Expense Ratio Comparison
EL4A.DE has a 0.15% expense ratio, which is lower than CEMS.DE's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
EL4A.DE vs. CEMS.DE - Dividend Comparison
Neither EL4A.DE nor CEMS.DE has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEMS.DE iShares Edge MSCI Europe Value Factor 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% |
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
EL4A.DE and CEMS.DE have a correlation of 0.81, 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 0.25% for CEMS.DE.
EL4A.DE tracks DAX®, while CEMS.DE tracks MSCI Europe Enhanced Value. They also come from different issuers: Deka and iShares. Their fees differ too: 0.15% for EL4A.DE and 0.25% for CEMS.DE.
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