EL4X.DE vs. EUN0.DE
EL4X.DE (Deka DAXplus Maximum Dividend UCITS ETF) and EUN0.DE (iShares Edge MSCI Europe Minimum Volatility UCITS ETF) are both Europe Equities funds - EL4X.DE tracks the DAXplus® Maximum Dividend while EUN0.DE tracks the MSCI Europe Minimum Volatility. Both are passively managed. Over the past 10 years, EL4X.DE returned 2.29%/yr vs 6.66%/yr for EUN0.DE. A 0.74 correlation means they provide meaningful diversification when combined. EL4X.DE charges 0.30%/yr vs 0.25%/yr for EUN0.DE.
Performance
EL4X.DE vs. EUN0.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EL4X.DE achieves a 6.17% return, which is significantly higher than EUN0.DE's 5.60% return. Over the past 10 years, EL4X.DE has underperformed EUN0.DE with an annualized return of 2.29%, while EUN0.DE has yielded a comparatively higher 6.66% annualized return.
EL4X.DE
- 1D
- 0.59%
- 1M
- -0.32%
- YTD
- 6.17%
- 6M
- 9.91%
- 1Y
- 6.78%
- 3Y*
- 9.31%
- 5Y*
- 2.45%
- 10Y*
- 2.29%
EUN0.DE
- 1D
- 0.54%
- 1M
- -0.19%
- YTD
- 5.60%
- 6M
- 7.10%
- 1Y
- 5.26%
- 3Y*
- 10.39%
- 5Y*
- 7.36%
- 10Y*
- 6.66%
EL4X.DE vs. EUN0.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EL4X.DE Deka DAXplus Maximum Dividend UCITS ETF | 6.17% | 14.14% | -1.45% | 26.38% | -20.06% | 9.02% | -2.95% | 11.71% | -18.87% | 5.70% |
EUN0.DE iShares Edge MSCI Europe Minimum Volatility UCITS ETF | 5.60% | 12.27% | 11.42% | 10.79% | -13.21% | 21.54% | -4.02% | 24.17% | -4.36% | 9.14% |
Correlation
The correlation between EL4X.DE and EUN0.DE is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Feb 12, 2013 | 0.74 |
The correlation between EL4X.DE and EUN0.DE has been stable across timeframes, ranging from 0.64 to 0.74 - a consistent structural relationship.
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Return for Risk
EL4X.DE vs. EUN0.DE — Risk / Return Rank
EL4X.DE
EUN0.DE
EL4X.DE vs. EUN0.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 iShares Edge MSCI Europe Minimum Volatility UCITS ETF (EUN0.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.
| EL4X.DE | EUN0.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.11 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.68 | 0.76 | -0.08 |
| Martin ratioReturn relative to average drawdown | 1.48 | 1.97 | -0.49 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EL4X.DE | EUN0.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.44 | 0.62 | -0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.14 | 0.66 | -0.52 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.13 | 0.53 | -0.40 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.63 | -0.34 |
Drawdowns
EL4X.DE vs. EUN0.DE - Drawdown Comparison
The maximum EL4X.DE drawdown since its inception was -52.91%, which is greater than EUN0.DE's maximum drawdown of -30.68%. Use the drawdown chart below to compare losses from any high point for EL4X.DE and EUN0.DE.
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Drawdown Indicators
| EL4X.DE | EUN0.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.91% | -30.68% | -22.23% |
Max Drawdown (1Y)Largest decline over 1 year | -9.87% | -7.16% | -2.71% |
Max Drawdown (3Y)Largest decline over 3 years | -16.60% | -10.73% | -5.87% |
Max Drawdown (5Y)Largest decline over 5 years | -34.51% | -19.64% | -14.87% |
Max Drawdown (10Y)Largest decline over 10 years | -52.91% | -30.68% | -22.23% |
Current DrawdownCurrent decline from peak | -2.74% | -3.12% | +0.38% |
Average DrawdownAverage peak-to-trough decline | -12.17% | -4.69% | -7.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.56% | 2.76% | +1.80% |
Volatility
EL4X.DE vs. EUN0.DE - Volatility Comparison
Deka DAXplus Maximum Dividend UCITS ETF (EL4X.DE) has a higher volatility of 4.54% compared to iShares Edge MSCI Europe Minimum Volatility UCITS ETF (EUN0.DE) at 3.03%. This indicates that EL4X.DE's price experiences larger fluctuations and is considered to be riskier than EUN0.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 | EUN0.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.54% | 3.03% | +1.51% |
Volatility (6M)Calculated over the trailing 6-month period | 11.68% | 7.20% | +4.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.25% | 8.77% | +6.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.85% | 11.02% | +5.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.23% | 12.51% | +5.72% |
EL4X.DE vs. EUN0.DE - Expense Ratio Comparison
EL4X.DE has a 0.30% expense ratio, which is higher than EUN0.DE's 0.25% expense ratio.
Dividends
EL4X.DE vs. EUN0.DE - Dividend Comparison
EL4X.DE's dividend yield for the trailing twelve months is around 4.73%, while EUN0.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 | 4.73% | 5.11% | 7.17% | 5.99% | 8.64% | 3.83% | 2.89% | 6.66% | 8.48% | 7.17% | 7.37% | 5.62% |
EUN0.DE iShares Edge MSCI Europe Minimum Volatility 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 EUN0.DE have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EUN0.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUN0.DE is cheaper with a 0.25% expense ratio, compared with 0.30% for EL4X.DE.
EL4X.DE tracks DAXplus® Maximum Dividend, while EUN0.DE tracks MSCI Europe Minimum Volatility. They also come from different issuers: Deka and iShares. Their fees differ too: 0.30% for EL4X.DE and 0.25% for EUN0.DE.
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