EL4X.DE vs. ESNB.DE
EL4X.DE (Deka DAXplus Maximum Dividend UCITS ETF) and ESNB.DE (Expat Serbia BELEX15 UCITS ETF) are both Europe Equities funds - EL4X.DE tracks the DAXplus® Maximum Dividend while ESNB.DE tracks the BELEX15 Index. Both are passively managed. Over the past 5 years, EL4X.DE returned 2.51%/yr vs -1.86%/yr for ESNB.DE. At a 0.00 correlation, their price movements are largely independent. EL4X.DE charges 0.30%/yr vs 1.38%/yr for ESNB.DE.
Performance
EL4X.DE vs. ESNB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EL4X.DE achieves a 6.39% return, which is significantly higher than ESNB.DE's -7.20% return.
EL4X.DE
- 1D
- 0.87%
- 1M
- -1.60%
- 6M
- 4.26%
- YTD
- 6.39%
- 1Y
- 6.06%
- 3Y*
- 8.30%
- 5Y*
- 2.51%
- 10Y*
- 1.88%
ESNB.DE
- 1D
- -0.13%
- 1M
- -0.70%
- 6M
- -5.93%
- YTD
- -7.20%
- 1Y
- -5.98%
- 3Y*
- -1.71%
- 5Y*
- -1.86%
- 10Y*
- —
EL4X.DE vs. ESNB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
EL4X.DE Deka DAXplus Maximum Dividend UCITS ETF | 6.39% | 14.14% | -1.45% | 26.37% | -20.07% | 9.05% | -2.95% | 11.24% | -21.90% |
ESNB.DE Expat Serbia BELEX15 UCITS ETF | -7.20% | 0.82% | 0.78% | 2.90% | -8.70% | 5.74% | -3.42% | 5.43% | -7.45% |
Correlation
The correlation between EL4X.DE and ESNB.DE is -0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2018 | 0.00 |
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Return for Risk
EL4X.DE vs. ESNB.DE — Risk / Return Rank
EL4X.DE
ESNB.DE
EL4X.DE vs. ESNB.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Deka DAXplus Maximum Dividend UCITS ETF (EL4X.DE) and Expat Serbia BELEX15 UCITS ETF (ESNB.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.
| EL4X.DE | ESNB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.90 | ||
| Sortino ratioReturn per unit of downside risk | +1.32 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 0.91 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.61 | -0.49 | +1.10 |
| Martin ratioReturn relative to average drawdown | 1.30 | -1.05 | +2.35 |
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Drawdowns
EL4X.DE vs. ESNB.DE - Drawdown Comparison
The maximum EL4X.DE drawdown since its inception was -56.06%, which is greater than ESNB.DE's maximum drawdown of -22.77%. Use the drawdown chart below to compare losses from any high point for EL4X.DE and ESNB.DE.
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Drawdown Indicators
| EL4X.DE | ESNB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.06% | -22.77% | -33.29% |
Max Drawdown (1Y)Largest decline over 1 year | -9.87% | -10.40% | +0.53% |
Max Drawdown (3Y)Largest decline over 3 years | -16.60% | -12.60% | -4.00% |
Max Drawdown (5Y)Largest decline over 5 years | -34.51% | -15.85% | -18.66% |
Max Drawdown (10Y)Largest decline over 10 years | -56.06% | — | — |
Current DrawdownCurrent decline from peak | -3.25% | -13.87% | +10.62% |
Average DrawdownAverage peak-to-trough decline | -14.55% | -8.44% | -6.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.64% | 4.88% | -0.24% |
Volatility
EL4X.DE vs. ESNB.DE - Volatility Comparison
Deka DAXplus Maximum Dividend UCITS ETF (EL4X.DE) has a higher volatility of 5.86% compared to Expat Serbia BELEX15 UCITS ETF (ESNB.DE) at 3.07%. This indicates that EL4X.DE's price experiences larger fluctuations and is considered to be riskier than ESNB.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EL4X.DE | ESNB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.86% | 3.07% | +2.79% |
Volatility (6M)Calculated over the trailing 6-month period | 13.32% | 6.22% | +7.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.00% | 9.76% | +6.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.04% | 10.53% | +6.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.18% | 12.11% | +6.07% |
EL4X.DE vs. ESNB.DE - Expense Ratio Comparison
EL4X.DE has a 0.30% expense ratio, which is lower than ESNB.DE's 1.38% expense ratio.
Dividends
EL4X.DE vs. ESNB.DE - Dividend Comparison
EL4X.DE's dividend yield for the trailing twelve months is around 4.56%, while ESNB.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EL4X.DE Deka DAXplus Maximum Dividend UCITS ETF | 4.56% | 5.11% | 7.17% | 5.99% | 8.64% | 3.83% | 2.89% | 6.21% | 0.42% | 7.17% | 7.37% | 5.62% |
ESNB.DE Expat Serbia BELEX15 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
EL4X.DE and ESNB.DE have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EL4X.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EL4X.DE is cheaper with a 0.30% expense ratio, compared with 1.38% for ESNB.DE.
EL4X.DE tracks DAXplus® Maximum Dividend, while ESNB.DE tracks BELEX15 Index. They also come from different issuers: Deka and Expat. Their fees differ too: 0.30% for EL4X.DE and 1.38% for ESNB.DE.
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