EL4X.DE vs. IBCJ.DE
EL4X.DE (Deka DAXplus Maximum Dividend UCITS ETF) and IBCJ.DE (iShares MSCI Poland UCITS ETF USD (Acc)) are both Europe Equities funds - EL4X.DE tracks the DAXplus® Maximum Dividend while IBCJ.DE tracks the MSCI Poland. Both are passively managed. Over the past 10 years, EL4X.DE returned 2.29%/yr vs 9.17%/yr for IBCJ.DE. A 0.55 correlation means they provide meaningful diversification when combined. EL4X.DE charges 0.30%/yr vs 0.74%/yr for IBCJ.DE.
Performance
EL4X.DE vs. IBCJ.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 lower than IBCJ.DE's 16.30% return. Over the past 10 years, EL4X.DE has underperformed IBCJ.DE with an annualized return of 2.29%, while IBCJ.DE has yielded a comparatively higher 9.17% annualized return.
EL4X.DE
- 1D
- 0.59%
- 1M
- -2.49%
- YTD
- 6.17%
- 6M
- 9.60%
- 1Y
- 6.36%
- 3Y*
- 9.31%
- 5Y*
- 2.45%
- 10Y*
- 2.29%
IBCJ.DE
- 1D
- 0.17%
- 1M
- 1.95%
- YTD
- 16.30%
- 6M
- 26.50%
- 1Y
- 40.90%
- 3Y*
- 29.89%
- 5Y*
- 14.80%
- 10Y*
- 9.17%
EL4X.DE vs. IBCJ.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% |
IBCJ.DE iShares MSCI Poland UCITS ETF USD (Acc) | 16.30% | 53.66% | -0.42% | 43.86% | -21.74% | 14.34% | -18.69% | -3.73% | -9.07% | 35.59% |
Correlation
The correlation between EL4X.DE and IBCJ.DE is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Jun 1, 2011 | 0.55 |
The correlation between EL4X.DE and IBCJ.DE has been stable across timeframes, ranging from 0.50 to 0.55 - a consistent structural relationship.
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Return for Risk
EL4X.DE vs. IBCJ.DE — Risk / Return Rank
EL4X.DE
IBCJ.DE
EL4X.DE vs. IBCJ.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 MSCI Poland UCITS ETF USD (Acc) (IBCJ.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 | IBCJ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.21 | ||
| Sortino ratioReturn per unit of downside risk | -1.62 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.28 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 0.68 | 3.90 | -3.21 |
| Martin ratioReturn relative to average drawdown | 1.48 | 9.60 | -8.11 |
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 | IBCJ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.44 | 1.65 | -1.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.14 | 0.55 | -0.40 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.13 | 0.36 | -0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.15 | +0.15 |
Drawdowns
EL4X.DE vs. IBCJ.DE - Drawdown Comparison
The maximum EL4X.DE drawdown since its inception was -52.91%, smaller than the maximum IBCJ.DE drawdown of -56.11%. Use the drawdown chart below to compare losses from any high point for EL4X.DE and IBCJ.DE.
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Drawdown Indicators
| EL4X.DE | IBCJ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.91% | -56.11% | +3.20% |
Max Drawdown (1Y)Largest decline over 1 year | -9.87% | -9.96% | +0.09% |
Max Drawdown (3Y)Largest decline over 3 years | -16.60% | -18.47% | +1.87% |
Max Drawdown (5Y)Largest decline over 5 years | -34.51% | -47.31% | +12.80% |
Max Drawdown (10Y)Largest decline over 10 years | -52.91% | -56.11% | +3.20% |
Current DrawdownCurrent decline from peak | -2.74% | -1.16% | -1.58% |
Average DrawdownAverage peak-to-trough decline | -12.17% | -19.38% | +7.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.56% | 4.05% | +0.51% |
Volatility
EL4X.DE vs. IBCJ.DE - Volatility Comparison
The current volatility for Deka DAXplus Maximum Dividend UCITS ETF (EL4X.DE) is 4.54%, while iShares MSCI Poland UCITS ETF USD (Acc) (IBCJ.DE) has a volatility of 7.13%. This indicates that EL4X.DE experiences smaller price fluctuations and is considered to be less risky than IBCJ.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 | IBCJ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.54% | 7.13% | -2.59% |
Volatility (6M)Calculated over the trailing 6-month period | 11.68% | 17.61% | -5.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.25% | 23.48% | -8.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.85% | 26.72% | -9.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.23% | 25.15% | -6.92% |
EL4X.DE vs. IBCJ.DE - Expense Ratio Comparison
EL4X.DE has a 0.30% expense ratio, which is lower than IBCJ.DE's 0.74% expense ratio.
Dividends
EL4X.DE vs. IBCJ.DE - Dividend Comparison
EL4X.DE's dividend yield for the trailing twelve months is around 4.73%, while IBCJ.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% |
IBCJ.DE iShares MSCI Poland UCITS ETF USD (Acc) | 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 IBCJ.DE have a correlation of 0.50, 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 0.74% for IBCJ.DE.
EL4X.DE tracks DAXplus® Maximum Dividend, while IBCJ.DE tracks MSCI Poland. They also come from different issuers: Deka and iShares. Their fees differ too: 0.30% for EL4X.DE and 0.74% for IBCJ.DE.
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