EL4A.DE vs. VGEK.DE

Last updated Jun 16, 2026

EL4A.DE (Deka DAX UCITS ETF) and VGEK.DE (Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF (USD) Accumulating) are both exchange-traded funds - EL4A.DE is a Europe Equities fund tracking the DAX®, while VGEK.DE is a Asia Pacific Equities fund tracking the FTSE Developed Asia Pacific ex Japan. Both are passively managed. Over the past 5 years, EL4A.DE returned 9.04%/yr vs 13.25%/yr for VGEK.DE. A 0.65 correlation means they provide meaningful diversification when combined. Both charge a 0.15% expense ratio.

Performance

EL4A.DE vs. VGEK.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Deka DAX UCITS ETF (EL4A.DE) and Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF (USD) Accumulating (VGEK.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EL4A.DE achieves a 1.14% return, which is significantly lower than VGEK.DE's 52.92% 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%

VGEK.DE

• 1D: 2.51%
• 1M: 9.47%
• YTD: 52.92%
• 6M: 59.20%
• 1Y: 82.62%
• 3Y*: 25.05%
• 5Y*: 13.25%
• 10Y*: —

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

EL4A.DE vs. VGEK.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
EL4A.DE Deka DAX UCITS ETF	1.14%	22.57%	18.09%	19.52%	-12.75%	15.19%	3.01%	7.23%
VGEK.DE Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF (USD) Accumulating	52.92%	25.01%	1.00%	6.45%	-7.38%	9.39%	8.24%	-4.36%

Correlation

The correlation between EL4A.DE and VGEK.DE is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (All Time) Calculated using the full available price history since Sep 24, 2019	0.65

The correlation between EL4A.DE and VGEK.DE shifts across timeframes, from 0.54 (1 year) to 0.65 (all time), reflecting how their relationship changes across market environments.

Return for Risk

EL4A.DE vs. VGEK.DE — Risk / Return Rank

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

EL4A.DE

EL4A.DE Risk / Return Rank: 14
EL4A.DE Sharpe Ratio Rank: 14
EL4A.DE Sortino Ratio Rank: 13
EL4A.DE Omega Ratio Rank: 13
EL4A.DE Calmar Ratio Rank: 14
EL4A.DE Martin Ratio Rank: 15

VGEK.DE

VGEK.DE Risk / Return Rank: 94
VGEK.DE Sharpe Ratio Rank: 96
VGEK.DE Sortino Ratio Rank: 94
VGEK.DE Omega Ratio Rank: 94
VGEK.DE Calmar Ratio Rank: 94
VGEK.DE Martin Ratio Rank: 93

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.

EL4A.DE vs. VGEK.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Deka DAX UCITS ETF (EL4A.DE) and Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF (USD) Accumulating (VGEK.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	VGEK.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.33	3.68	-3.35
Sortino ratio: Return per unit of downside risk	0.59	4.45	-3.86
Omega ratio: Gain probability vs. loss probability	1.07	1.64	-0.57
Calmar ratio: Return relative to maximum drawdown	0.43	6.38	-5.95
Martin ratio: Return relative to average drawdown	1.34	23.21	-21.87

EL4A.DE vs. VGEK.DE - Sharpe Ratio Comparison

The current EL4A.DE Sharpe Ratio is 0.33, which is lower than the VGEK.DE Sharpe Ratio of 3.68. The chart below compares the historical Sharpe Ratios of EL4A.DE and VGEK.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

EL4A.DE vs. VGEK.DE - Drawdown Comparison

The maximum EL4A.DE drawdown since its inception was -46.64%, which is greater than VGEK.DE's maximum drawdown of -36.88%. Use the drawdown chart below to compare losses from any high point for EL4A.DE and VGEK.DE.

Drawdown Indicators

	EL4A.DE	VGEK.DE	Difference
Max Drawdown Largest peak-to-trough decline	-46.64%	-36.88%	-9.76%
Max Drawdown (1Y) Largest decline over 1 year	-12.36%	-12.88%	+0.52%
Max Drawdown (3Y) Largest decline over 3 years	-15.89%	-19.67%	+3.78%
Max Drawdown (5Y) Largest decline over 5 years	-26.76%	-19.67%	-7.09%
Max Drawdown (10Y) Largest decline over 10 years	-38.68%	—	—
Current Drawdown Current decline from peak	-2.44%	-1.59%	-0.85%
Average Drawdown Average peak-to-trough decline	-8.88%	-6.40%	-2.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.97%	3.55%	+0.42%

Volatility

EL4A.DE vs. VGEK.DE - Volatility Comparison

The current volatility for Deka DAX UCITS ETF (EL4A.DE) is 4.42%, while Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF (USD) Accumulating (VGEK.DE) has a volatility of 10.22%. This indicates that EL4A.DE experiences smaller price fluctuations and is considered to be less risky than VGEK.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EL4A.DE	VGEK.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.42%	10.22%	-5.80%
Volatility (6M) Calculated over the trailing 6-month period	13.11%	19.99%	-6.88%
Volatility (1Y) Calculated over the trailing 1-year period	16.23%	22.36%	-6.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.22%	16.93%	+0.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.33%	20.06%	-1.73%

EL4A.DE vs. VGEK.DE - Expense Ratio Comparison

Both EL4A.DE and VGEK.DE have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

EL4A.DE vs. VGEK.DE - Dividend Comparison

Neither EL4A.DE nor VGEK.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%
VGEK.DE Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF (USD) Accumulating	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

Can I hold both EL4A.DE and VGEK.DE in my portfolio?

EL4A.DE and VGEK.DE have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EL4A.DE or VGEK.DE?

Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EL4A.DE or VGEK.DE?

EL4A.DE and VGEK.DE have the same expense ratio: 0.15% per year.

What is the main difference between EL4A.DE and VGEK.DE?

EL4A.DE is categorized as Europe Equities, while VGEK.DE is Asia Pacific Equities. EL4A.DE tracks DAX®, while VGEK.DE tracks FTSE Developed Asia Pacific ex Japan. They also come from different issuers: Deka and Vanguard.