EL4A.DE vs. IS3N.DE
EL4A.DE (Deka DAX UCITS ETF) and IS3N.DE (iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)) are both exchange-traded funds - EL4A.DE is a Europe Equities fund tracking the DAX®, while IS3N.DE is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Investable Market (IMI). Both are passively managed. Over the past 10 years, EL4A.DE returned 9.42%/yr vs 10.44%/yr for IS3N.DE. A 0.63 correlation means they provide meaningful diversification when combined. EL4A.DE charges 0.15%/yr vs 0.18%/yr for IS3N.DE.
Performance
EL4A.DE vs. IS3N.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EL4A.DE achieves a 1.14% return, which is significantly lower than IS3N.DE's 28.06% return. Over the past 10 years, EL4A.DE has underperformed IS3N.DE with an annualized return of 9.42%, while IS3N.DE has yielded a comparatively higher 10.44% annualized return.
EL4A.DE
- 1D
- 1.07%
- 1M
- 3.92%
- YTD
- 1.14%
- 6M
- 2.62%
- 1Y
- 5.35%
- 3Y*
- 14.41%
- 5Y*
- 9.04%
- 10Y*
- 9.42%
IS3N.DE
- 1D
- 2.55%
- 1M
- 6.99%
- YTD
- 28.06%
- 6M
- 30.89%
- 1Y
- 48.73%
- 3Y*
- 19.82%
- 5Y*
- 9.09%
- 10Y*
- 10.44%
EL4A.DE vs. IS3N.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EL4A.DE Deka DAX UCITS ETF | 1.14% | 22.57% | 18.09% | 19.52% | -12.75% | 15.19% | 3.01% | 24.61% | -18.58% | 12.49% |
IS3N.DE iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) | 28.06% | 17.14% | 13.88% | 7.20% | -13.85% | 7.09% | 7.07% | 20.99% | -11.06% | 20.43% |
Correlation
The correlation between EL4A.DE and IS3N.DE is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2014 | 0.63 |
The correlation between EL4A.DE and IS3N.DE has been stable across timeframes, ranging from 0.55 to 0.63 - a consistent structural relationship.
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Return for Risk
EL4A.DE vs. IS3N.DE — Risk / Return Rank
EL4A.DE
IS3N.DE
EL4A.DE vs. IS3N.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Deka DAX UCITS ETF (EL4A.DE) and iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (IS3N.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.
| EL4A.DE | IS3N.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.35 | ||
| Sortino ratioReturn per unit of downside risk | -2.97 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.49 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | 0.43 | 4.61 | -4.18 |
| Martin ratioReturn relative to average drawdown | 1.34 | 16.02 | -14.68 |
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Drawdowns
EL4A.DE vs. IS3N.DE - Drawdown Comparison
The maximum EL4A.DE drawdown since its inception was -46.64%, which is greater than IS3N.DE's maximum drawdown of -35.06%. Use the drawdown chart below to compare losses from any high point for EL4A.DE and IS3N.DE.
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Drawdown Indicators
| EL4A.DE | IS3N.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.64% | -35.06% | -11.58% |
Max Drawdown (1Y)Largest decline over 1 year | -12.36% | -10.52% | -1.84% |
Max Drawdown (3Y)Largest decline over 3 years | -15.89% | -19.18% | +3.29% |
Max Drawdown (5Y)Largest decline over 5 years | -26.76% | -21.99% | -4.77% |
Max Drawdown (10Y)Largest decline over 10 years | -38.68% | -32.51% | -6.17% |
Current DrawdownCurrent decline from peak | -2.44% | -0.75% | -1.69% |
Average DrawdownAverage peak-to-trough decline | -8.88% | -9.26% | +0.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.97% | 3.03% | +0.94% |
Volatility
EL4A.DE vs. IS3N.DE - Volatility Comparison
The current volatility for Deka DAX UCITS ETF (EL4A.DE) is 4.42%, while iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (IS3N.DE) has a volatility of 7.06%. This indicates that EL4A.DE experiences smaller price fluctuations and is considered to be less risky than IS3N.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 | IS3N.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.42% | 7.06% | -2.64% |
Volatility (6M)Calculated over the trailing 6-month period | 13.11% | 15.70% | -2.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.23% | 18.12% | -1.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.22% | 16.38% | +0.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.33% | 18.10% | +0.23% |
EL4A.DE vs. IS3N.DE - Expense Ratio Comparison
EL4A.DE has a 0.15% expense ratio, which is lower than IS3N.DE's 0.18% 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. IS3N.DE - Dividend Comparison
Neither EL4A.DE nor IS3N.DE has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
IS3N.DE iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EL4A.DE and IS3N.DE have a correlation of 0.60, 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 0.18% for IS3N.DE.
EL4A.DE is categorized as Europe Equities, while IS3N.DE is Emerging Markets Equities. EL4A.DE tracks DAX®, while IS3N.DE tracks MSCI Emerging Markets Investable Market (IMI). They also come from different issuers: Deka and iShares. Their fees differ too: 0.15% for EL4A.DE and 0.18% for IS3N.DE.
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