EL4F.DE vs. ELFW.DE

Last updated Jun 5, 2026

EL4F.DE (Deka DAX (ausschüttend) UCITS ETF) and ELFW.DE (Deka MSCI World UCITS ETF Dist) are both exchange-traded funds - EL4F.DE is a Europe Equities fund tracking the DAX®, while ELFW.DE is a Global Equities fund tracking the MSCI World. Both are passively managed. Over the past 5 years, EL4F.DE returned 9.08%/yr vs 12.52%/yr for ELFW.DE. A 0.77 correlation means they provide meaningful diversification when combined. EL4F.DE charges 0.15%/yr vs 0.31%/yr for ELFW.DE.

Performance

EL4F.DE vs. ELFW.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Deka DAX (ausschüttend) UCITS ETF (EL4F.DE) and Deka MSCI World UCITS ETF Dist (ELFW.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EL4F.DE achieves a 1.34% return, which is significantly lower than ELFW.DE's 10.68% return.

EL4F.DE

• 1D: 0.54%
• 1M: -0.05%
• YTD: 1.34%
• 6M: 3.38%
• 1Y: 2.04%
• 3Y*: 15.44%
• 5Y*: 9.08%
• 10Y*: 8.87%

ELFW.DE

• 1D: -0.02%
• 1M: 3.61%
• YTD: 10.68%
• 6M: 10.77%
• 1Y: 23.36%
• 3Y*: 17.24%
• 5Y*: 12.52%
• 10Y*: —

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

EL4F.DE vs. ELFW.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
EL4F.DE Deka DAX (ausschüttend) UCITS ETF	1.34%	22.54%	18.07%	19.54%	-12.81%	15.13%	2.76%	24.66%	-14.62%
ELFW.DE Deka MSCI World UCITS ETF Dist	10.68%	7.57%	25.71%	19.97%	-14.02%	31.88%	5.44%	30.74%	-11.82%

Correlation

The correlation between EL4F.DE and ELFW.DE is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (All Time) Calculated using the full available price history since Sep 26, 2018	0.77

The correlation between EL4F.DE and ELFW.DE has been stable across timeframes, ranging from 0.67 to 0.77 - a consistent structural relationship.

Return for Risk

EL4F.DE vs. ELFW.DE — Risk / Return Rank

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

EL4F.DE

EL4F.DE Risk / Return Rank: 11
EL4F.DE Sharpe Ratio Rank: 11
EL4F.DE Sortino Ratio Rank: 11
EL4F.DE Omega Ratio Rank: 11
EL4F.DE Calmar Ratio Rank: 11
EL4F.DE Martin Ratio Rank: 12

ELFW.DE

ELFW.DE Risk / Return Rank: 68
ELFW.DE Sharpe Ratio Rank: 64
ELFW.DE Sortino Ratio Rank: 64
ELFW.DE Omega Ratio Rank: 66
ELFW.DE Calmar Ratio Rank: 71
ELFW.DE Martin Ratio Rank: 75

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.

EL4F.DE vs. ELFW.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Deka DAX (ausschüttend) UCITS ETF (EL4F.DE) and Deka MSCI World UCITS ETF Dist (ELFW.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.

	EL4F.DE	ELFW.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.14	2.09	-1.95
Sortino ratio: Return per unit of downside risk	0.32	2.93	-2.61
Omega ratio: Gain probability vs. loss probability	1.04	1.39	-0.36
Calmar ratio: Return relative to maximum drawdown	0.18	3.49	-3.31
Martin ratio: Return relative to average drawdown	0.57	14.07	-13.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EL4F.DE vs. ELFW.DE - Sharpe Ratio Comparison

The current EL4F.DE Sharpe Ratio is 0.14, which is lower than the ELFW.DE Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of EL4F.DE and ELFW.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.

Sharpe Ratios by Period

	EL4F.DE	ELFW.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.14	2.09	-1.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.87	-0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.77	-0.42

Drawdowns

EL4F.DE vs. ELFW.DE - Drawdown Comparison

The maximum EL4F.DE drawdown since its inception was -45.08%, which is greater than ELFW.DE's maximum drawdown of -33.59%. Use the drawdown chart below to compare losses from any high point for EL4F.DE and ELFW.DE.

Drawdown Indicators

	EL4F.DE	ELFW.DE	Difference
Max Drawdown Largest peak-to-trough decline	-45.08%	-33.59%	-11.49%
Max Drawdown (1Y) Largest decline over 1 year	-12.36%	-6.68%	-5.68%
Max Drawdown (3Y) Largest decline over 3 years	-15.79%	-21.81%	+6.02%
Max Drawdown (5Y) Largest decline over 5 years	-26.71%	-21.81%	-4.90%
Max Drawdown (10Y) Largest decline over 10 years	-38.59%	—	—
Current Drawdown Current decline from peak	-2.26%	-0.35%	-1.91%
Average Drawdown Average peak-to-trough decline	-8.33%	-4.73%	-3.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.98%	1.66%	+2.32%

Volatility

EL4F.DE vs. ELFW.DE - Volatility Comparison

Deka DAX (ausschüttend) UCITS ETF (EL4F.DE) has a higher volatility of 5.16% compared to Deka MSCI World UCITS ETF Dist (ELFW.DE) at 2.60%. This indicates that EL4F.DE's price experiences larger fluctuations and is considered to be riskier than ELFW.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EL4F.DE	ELFW.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.16%	2.60%	+2.56%
Volatility (6M) Calculated over the trailing 6-month period	13.00%	7.74%	+5.26%
Volatility (1Y) Calculated over the trailing 1-year period	16.09%	11.14%	+4.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.13%	14.15%	+2.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.25%	16.07%	+2.18%

EL4F.DE vs. ELFW.DE - Expense Ratio Comparison

EL4F.DE has a 0.15% expense ratio, which is lower than ELFW.DE's 0.31% expense ratio.

Dividends

EL4F.DE vs. ELFW.DE - Dividend Comparison

EL4F.DE's dividend yield for the trailing twelve months is around 1.80%, more than ELFW.DE's 0.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EL4F.DE Deka DAX (ausschüttend) UCITS ETF	1.80%	1.82%	2.10%	2.63%	2.72%	1.86%	2.19%	2.42%	2.94%	2.76%	2.66%	2.70%
ELFW.DE Deka MSCI World UCITS ETF Dist	0.89%	1.01%	1.04%	1.37%	1.65%	0.96%	1.29%	1.53%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EL4F.DE and ELFW.DE in my portfolio?

EL4F.DE and ELFW.DE have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EL4F.DE or ELFW.DE?

On fees, EL4F.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, EL4F.DE or ELFW.DE?

EL4F.DE is cheaper with a 0.15% expense ratio, compared with 0.31% for ELFW.DE.

What is the main difference between EL4F.DE and ELFW.DE?

EL4F.DE is categorized as Europe Equities, while ELFW.DE is Global Equities. EL4F.DE tracks DAX®, while ELFW.DE tracks MSCI World. Their fees differ too: 0.15% for EL4F.DE and 0.31% for ELFW.DE.