EL4E.DE vs. EL4A.DE

Last updated Jul 16, 2026

EL4E.DE (Deka STOXX Europe Strong Style Composite 40 UCITS ETF) and EL4A.DE (Deka DAX UCITS ETF) are both Europe Equities funds from Deka - EL4E.DE tracks the STOXX Europe Strong Style Composite 40 Index while EL4A.DE tracks the DAX®. Both are passively managed. Over the past 10 years, EL4E.DE returned 8.89%/yr vs 8.99%/yr for EL4A.DE. A 0.75 correlation means they provide meaningful diversification when combined. EL4E.DE charges 0.66%/yr vs 0.15%/yr for EL4A.DE.

Performance

EL4E.DE vs. EL4A.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Deka STOXX Europe Strong Style Composite 40 UCITS ETF (EL4E.DE) and Deka DAX UCITS ETF (EL4A.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EL4E.DE achieves a 6.79% return, which is significantly higher than EL4A.DE's 1.58% return. Both investments have delivered pretty close results over the past 10 years, with EL4E.DE having a 8.89% annualized return and EL4A.DE not far ahead at 8.99%.

EL4E.DE

• 1D: -0.17%
• 1M: -0.50%
• 6M: 0.99%
• YTD: 6.79%
• 1Y: 9.67%
• 3Y*: 10.78%
• 5Y*: 2.65%
• 10Y*: 8.89%

EL4A.DE

• 1D: -0.46%
• 1M: 0.44%
• 6M: -1.33%
• YTD: 1.58%
• 1Y: 3.45%
• 3Y*: 15.20%
• 5Y*: 9.36%
• 10Y*: 8.99%

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

EL4E.DE vs. EL4A.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EL4E.DE Deka STOXX Europe Strong Style Composite 40 UCITS ETF	6.79%	10.62%	11.03%	16.21%	-27.49%	23.99%	14.63%	31.38%	-7.27%	14.23%
EL4A.DE Deka DAX UCITS ETF	1.58%	22.57%	18.09%	19.52%	-12.75%	15.19%	3.01%	24.61%	-18.58%	12.49%

Correlation

The correlation between EL4E.DE and EL4A.DE is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Mar 14, 2008	0.75

The correlation between EL4E.DE and EL4A.DE has been stable across timeframes, ranging from 0.71 to 0.78 - a consistent structural relationship.

Return for Risk

EL4E.DE vs. EL4A.DE — Risk / Return Rank

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

EL4E.DE

EL4E.DE Risk / Return Rank: 21
EL4E.DE Sharpe Ratio Rank: 21
EL4E.DE Sortino Ratio Rank: 20
EL4E.DE Omega Ratio Rank: 20
EL4E.DE Calmar Ratio Rank: 22
EL4E.DE Martin Ratio Rank: 23

EL4A.DE

EL4A.DE Risk / Return Rank: 13
EL4A.DE Sharpe Ratio Rank: 13
EL4A.DE Sortino Ratio Rank: 12
EL4A.DE Omega Ratio Rank: 12
EL4A.DE Calmar Ratio Rank: 13
EL4A.DE Martin Ratio Rank: 14

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.

EL4E.DE vs. EL4A.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Deka STOXX Europe Strong Style Composite 40 UCITS ETF (EL4E.DE) and Deka DAX UCITS ETF (EL4A.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.

	EL4E.DE	EL4A.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.61	0.21	+0.40
Sortino ratio: Return per unit of downside risk	0.96	0.42	+0.54
Omega ratio: Gain probability vs. loss probability	1.12	1.05	+0.07
Calmar ratio: Return relative to maximum drawdown	0.85	0.28	+0.57
Martin ratio: Return relative to average drawdown	2.36	0.87	+1.48

EL4E.DE vs. EL4A.DE - Sharpe Ratio Comparison

The current EL4E.DE Sharpe Ratio is 0.61, which is higher than the EL4A.DE Sharpe Ratio of 0.21. The chart below compares the historical Sharpe Ratios of EL4E.DE and EL4A.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

EL4E.DE vs. EL4A.DE - Drawdown Comparison

The maximum EL4E.DE drawdown since its inception was -50.61%, which is greater than EL4A.DE's maximum drawdown of -46.64%. Use the drawdown chart below to compare losses from any high point for EL4E.DE and EL4A.DE.

Drawdown Indicators

	EL4E.DE	EL4A.DE	Difference
Max Drawdown Largest peak-to-trough decline	-50.61%	-46.64%	-3.97%
Max Drawdown (1Y) Largest decline over 1 year	-12.99%	-12.36%	-0.63%
Max Drawdown (3Y) Largest decline over 3 years	-22.95%	-15.89%	-7.06%
Max Drawdown (5Y) Largest decline over 5 years	-40.69%	-26.76%	-13.93%
Max Drawdown (10Y) Largest decline over 10 years	-40.69%	-38.68%	-2.01%
Current Drawdown Current decline from peak	-3.49%	-3.10%	-0.39%
Average Drawdown Average peak-to-trough decline	-12.61%	-8.85%	-3.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.71%	3.95%	+0.76%

Volatility

EL4E.DE vs. EL4A.DE - Volatility Comparison

Deka STOXX Europe Strong Style Composite 40 UCITS ETF (EL4E.DE) has a higher volatility of 5.26% compared to Deka DAX UCITS ETF (EL4A.DE) at 4.67%. This indicates that EL4E.DE's price experiences larger fluctuations and is considered to be riskier than EL4A.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EL4E.DE	EL4A.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.26%	4.67%	+0.59%
Volatility (6M) Calculated over the trailing 6-month period	14.63%	13.64%	+0.99%
Volatility (1Y) Calculated over the trailing 1-year period	18.23%	16.27%	+1.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.43%	17.23%	+5.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.99%	18.11%	+1.88%

EL4E.DE vs. EL4A.DE - Expense Ratio Comparison

EL4E.DE has a 0.66% expense ratio, which is higher than EL4A.DE's 0.15% expense ratio.

Dividends

EL4E.DE vs. EL4A.DE - Dividend Comparison

EL4E.DE's dividend yield for the trailing twelve months is around 1.30%, while EL4A.DE has not 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%
EL4E.DE Deka STOXX Europe Strong Style Composite 40 UCITS ETF	1.30%	0.93%	1.28%	0.60%	2.51%	0.23%	0.95%	1.28%	1.02%	0.23%	2.62%	1.99%

Frequently Asked Questions

Can I hold both EL4E.DE and EL4A.DE in my portfolio?

EL4E.DE and EL4A.DE have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EL4E.DE or EL4A.DE?

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.

Which ETF is cheaper, EL4E.DE or EL4A.DE?

EL4A.DE is cheaper with a 0.15% expense ratio, compared with 0.66% for EL4E.DE.

What is the main difference between EL4E.DE and EL4A.DE?

EL4E.DE tracks STOXX Europe Strong Style Composite 40 Index, while EL4A.DE tracks DAX®. Their fees differ too: 0.66% for EL4E.DE and 0.15% for EL4A.DE.