EL4A.DE vs. VWCE.DE
EL4A.DE (Deka DAX UCITS ETF) and VWCE.DE (Vanguard FTSE All-World UCITS ETF) are both exchange-traded funds - EL4A.DE is a Europe Equities fund tracking the DAX®, while VWCE.DE is a Global Equities fund tracking the FTSE All-World Index. Both are passively managed. Over the past 5 years, EL4A.DE returned 9.04%/yr vs 12.15%/yr for VWCE.DE. A 0.77 correlation means they provide meaningful diversification when combined. EL4A.DE charges 0.15%/yr vs 0.19%/yr for VWCE.DE.
Performance
EL4A.DE vs. VWCE.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 VWCE.DE's 13.19% 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%
VWCE.DE
- 1D
- 1.32%
- 1M
- 3.24%
- YTD
- 13.19%
- 6M
- 14.70%
- 1Y
- 28.01%
- 3Y*
- 17.53%
- 5Y*
- 12.15%
- 10Y*
- —
EL4A.DE vs. VWCE.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% | 5.70% |
VWCE.DE Vanguard FTSE All-World UCITS ETF | 13.19% | 9.16% | 24.41% | 18.18% | -13.47% | 28.62% | 5.36% | 7.08% |
Correlation
The correlation between EL4A.DE and VWCE.DE is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Jul 25, 2019 | 0.77 |
The correlation between EL4A.DE and VWCE.DE has been stable across timeframes, ranging from 0.69 to 0.77 - a consistent structural relationship.
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Return for Risk
EL4A.DE vs. VWCE.DE — Risk / Return Rank
EL4A.DE
VWCE.DE
EL4A.DE vs. VWCE.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 All-World UCITS ETF (VWCE.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 | VWCE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.07 | ||
| Sortino ratioReturn per unit of downside risk | -2.75 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.44 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | 0.43 | 4.26 | -3.83 |
| Martin ratioReturn relative to average drawdown | 1.34 | 17.48 | -16.13 |
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Drawdowns
EL4A.DE vs. VWCE.DE - Drawdown Comparison
The maximum EL4A.DE drawdown since its inception was -46.64%, which is greater than VWCE.DE's maximum drawdown of -33.43%. Use the drawdown chart below to compare losses from any high point for EL4A.DE and VWCE.DE.
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Drawdown Indicators
| EL4A.DE | VWCE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.64% | -33.43% | -13.21% |
Max Drawdown (1Y)Largest decline over 1 year | -12.36% | -6.55% | -5.81% |
Max Drawdown (3Y)Largest decline over 3 years | -15.89% | -21.07% | +5.18% |
Max Drawdown (5Y)Largest decline over 5 years | -26.76% | -21.07% | -5.69% |
Max Drawdown (10Y)Largest decline over 10 years | -38.68% | — | — |
Current DrawdownCurrent decline from peak | -2.44% | -0.17% | -2.27% |
Average DrawdownAverage peak-to-trough decline | -8.88% | -4.68% | -4.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.97% | 1.60% | +2.37% |
Volatility
EL4A.DE vs. VWCE.DE - Volatility Comparison
Deka DAX UCITS ETF (EL4A.DE) has a higher volatility of 4.42% compared to Vanguard FTSE All-World UCITS ETF (VWCE.DE) at 3.44%. This indicates that EL4A.DE's price experiences larger fluctuations and is considered to be riskier than VWCE.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 | VWCE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.42% | 3.44% | +0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 13.11% | 8.60% | +4.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.23% | 11.66% | +4.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.22% | 13.80% | +3.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.33% | 16.16% | +2.17% |
EL4A.DE vs. VWCE.DE - Expense Ratio Comparison
EL4A.DE has a 0.15% expense ratio, which is lower than VWCE.DE's 0.19% 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. VWCE.DE - Dividend Comparison
Neither EL4A.DE nor VWCE.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% |
VWCE.DE Vanguard FTSE All-World 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% |
Frequently Asked Questions
EL4A.DE and VWCE.DE have a correlation of 0.75, 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 0.19% for VWCE.DE.
EL4A.DE is categorized as Europe Equities, while VWCE.DE is Global Equities. EL4A.DE tracks DAX®, while VWCE.DE tracks FTSE All-World Index. They also come from different issuers: Deka and Vanguard. Their fees differ too: 0.15% for EL4A.DE and 0.19% for VWCE.DE.
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