EL4A.DE vs. MVEE.DE
EL4A.DE (Deka DAX UCITS ETF) and MVEE.DE (iShares Edge MSCI Europe Minimum Volatility ESG UCITS ETF (Acc)) are both Europe Equities funds - EL4A.DE tracks the DAX® while MVEE.DE tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 5 years, EL4A.DE returned 9.28%/yr vs 6.17%/yr for MVEE.DE. A 0.79 correlation means they provide meaningful diversification when combined. EL4A.DE charges 0.15%/yr vs 0.25%/yr for MVEE.DE.
Performance
EL4A.DE vs. MVEE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EL4A.DE achieves a 1.60% return, which is significantly lower than MVEE.DE's 8.14% return.
EL4A.DE
- 1D
- 1.13%
- 1M
- -0.70%
- YTD
- 1.60%
- 6M
- 2.36%
- 1Y
- 5.94%
- 3Y*
- 15.90%
- 5Y*
- 9.28%
- 10Y*
- 9.89%
MVEE.DE
- 1D
- 0.92%
- 1M
- 1.27%
- YTD
- 8.14%
- 6M
- 8.67%
- 1Y
- 11.72%
- 3Y*
- 10.33%
- 5Y*
- 6.17%
- 10Y*
- —
EL4A.DE vs. MVEE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
EL4A.DE Deka DAX UCITS ETF | 1.60% | 22.57% | 18.09% | 19.52% | -12.75% | 15.19% | 32.43% |
MVEE.DE iShares Edge MSCI Europe Minimum Volatility ESG UCITS ETF (Acc) | 8.14% | 8.71% | 8.75% | 12.46% | -15.04% | 23.79% | 13.95% |
Correlation
The correlation between EL4A.DE and MVEE.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 | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Apr 17, 2020 | 0.79 |
Over the past year, the correlation between EL4A.DE and MVEE.DE has dropped to 0.56 - well below their long-term average of 0.79, suggesting their price drivers have been diverging.
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Return for Risk
EL4A.DE vs. MVEE.DE — Risk / Return Rank
EL4A.DE
MVEE.DE
EL4A.DE vs. MVEE.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 Minimum Volatility ESG UCITS ETF (Acc) (MVEE.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 | MVEE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.81 | ||
| Sortino ratioReturn per unit of downside risk | -1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.22 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 0.48 | 1.58 | -1.10 |
| Martin ratioReturn relative to average drawdown | 1.49 | 5.45 | -3.96 |
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Drawdowns
EL4A.DE vs. MVEE.DE - Drawdown Comparison
The maximum EL4A.DE drawdown since its inception was -46.64%, which is greater than MVEE.DE's maximum drawdown of -20.19%. Use the drawdown chart below to compare losses from any high point for EL4A.DE and MVEE.DE.
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Drawdown Indicators
| EL4A.DE | MVEE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.64% | -20.19% | -26.45% |
Max Drawdown (1Y)Largest decline over 1 year | -12.36% | -7.40% | -4.96% |
Max Drawdown (3Y)Largest decline over 3 years | -15.89% | -12.19% | -3.70% |
Max Drawdown (5Y)Largest decline over 5 years | -26.76% | -20.19% | -6.57% |
Max Drawdown (10Y)Largest decline over 10 years | -38.68% | — | — |
Current DrawdownCurrent decline from peak | -1.99% | 0.00% | -1.99% |
Average DrawdownAverage peak-to-trough decline | -8.87% | -4.50% | -4.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.99% | 2.15% | +1.84% |
Volatility
EL4A.DE vs. MVEE.DE - Volatility Comparison
Deka DAX UCITS ETF (EL4A.DE) has a higher volatility of 3.51% compared to iShares Edge MSCI Europe Minimum Volatility ESG UCITS ETF (Acc) (MVEE.DE) at 2.19%. This indicates that EL4A.DE's price experiences larger fluctuations and is considered to be riskier than MVEE.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 | MVEE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.51% | 2.19% | +1.32% |
Volatility (6M)Calculated over the trailing 6-month period | 13.12% | 8.16% | +4.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.04% | 9.93% | +6.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.20% | 12.08% | +5.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.16% | 12.47% | +5.69% |
EL4A.DE vs. MVEE.DE - Expense Ratio Comparison
EL4A.DE has a 0.15% expense ratio, which is lower than MVEE.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. MVEE.DE - Dividend Comparison
Neither EL4A.DE nor MVEE.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% |
MVEE.DE iShares Edge MSCI Europe Minimum Volatility ESG 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 MVEE.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, 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 MVEE.DE.
EL4A.DE tracks DAX®, while MVEE.DE tracks MSCI Europe NR EUR. They also come from different issuers: Deka and iShares. Their fees differ too: 0.15% for EL4A.DE and 0.25% for MVEE.DE.
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