EL4X.DE vs. MIVA.DE
EL4X.DE (Deka DAXplus Maximum Dividend UCITS ETF) and MIVA.DE (Amundi MSCI Europe Minimum Volatility Factor UCITS ETF EUR (C)) are both Europe Equities funds - EL4X.DE tracks the DAXplus® Maximum Dividend while MIVA.DE tracks the MSCI Europe Minimum Volatility. Both are passively managed. Over the past 10 years, EL4X.DE returned 2.29%/yr vs 6.51%/yr for MIVA.DE. A 0.69 correlation means they provide meaningful diversification when combined. EL4X.DE charges 0.30%/yr vs 0.23%/yr for MIVA.DE.
Performance
EL4X.DE vs. MIVA.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 MIVA.DE's 5.31% return. Over the past 10 years, EL4X.DE has underperformed MIVA.DE with an annualized return of 2.29%, while MIVA.DE has yielded a comparatively higher 6.51% 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%
MIVA.DE
- 1D
- 0.58%
- 1M
- -0.46%
- YTD
- 5.31%
- 6M
- 6.85%
- 1Y
- 5.14%
- 3Y*
- 10.24%
- 5Y*
- 7.20%
- 10Y*
- 6.51%
EL4X.DE vs. MIVA.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% |
MIVA.DE Amundi MSCI Europe Minimum Volatility Factor UCITS ETF EUR (C) | 5.31% | 12.05% | 11.43% | 10.68% | -13.34% | 21.25% | -4.14% | 24.17% | -4.44% | 9.03% |
Correlation
The correlation between EL4X.DE and MIVA.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 | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Mar 18, 2010 | 0.69 |
The correlation between EL4X.DE and MIVA.DE has been stable across timeframes, ranging from 0.65 to 0.71 - a consistent structural relationship.
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Return for Risk
EL4X.DE vs. MIVA.DE — Risk / Return Rank
EL4X.DE
MIVA.DE
EL4X.DE vs. MIVA.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 Amundi MSCI Europe Minimum Volatility Factor UCITS ETF EUR (C) (MIVA.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 | MIVA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.11 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.68 | 0.75 | -0.07 |
| Martin ratioReturn relative to average drawdown | 1.48 | 1.96 | -0.48 |
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 | MIVA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.44 | 0.60 | -0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.14 | 0.65 | -0.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.13 | 0.52 | -0.40 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.53 | -0.23 |
Drawdowns
EL4X.DE vs. MIVA.DE - Drawdown Comparison
The maximum EL4X.DE drawdown since its inception was -52.91%, which is greater than MIVA.DE's maximum drawdown of -30.57%. Use the drawdown chart below to compare losses from any high point for EL4X.DE and MIVA.DE.
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Drawdown Indicators
| EL4X.DE | MIVA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.91% | -30.57% | -22.34% |
Max Drawdown (1Y)Largest decline over 1 year | -9.87% | -6.94% | -2.93% |
Max Drawdown (3Y)Largest decline over 3 years | -16.60% | -11.02% | -5.58% |
Max Drawdown (5Y)Largest decline over 5 years | -34.51% | -19.69% | -14.82% |
Max Drawdown (10Y)Largest decline over 10 years | -52.91% | -30.57% | -22.34% |
Current DrawdownCurrent decline from peak | -2.74% | -3.21% | +0.47% |
Average DrawdownAverage peak-to-trough decline | -12.17% | -5.64% | -6.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.56% | 2.67% | +1.89% |
Volatility
EL4X.DE vs. MIVA.DE - Volatility Comparison
Deka DAXplus Maximum Dividend UCITS ETF (EL4X.DE) has a higher volatility of 4.54% compared to Amundi MSCI Europe Minimum Volatility Factor UCITS ETF EUR (C) (MIVA.DE) at 3.14%. This indicates that EL4X.DE's price experiences larger fluctuations and is considered to be riskier than MIVA.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 | MIVA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.54% | 3.14% | +1.40% |
Volatility (6M)Calculated over the trailing 6-month period | 11.68% | 7.19% | +4.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.25% | 8.76% | +6.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.85% | 10.96% | +5.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.23% | 12.34% | +5.89% |
EL4X.DE vs. MIVA.DE - Expense Ratio Comparison
EL4X.DE has a 0.30% expense ratio, which is higher than MIVA.DE's 0.23% expense ratio.
Dividends
EL4X.DE vs. MIVA.DE - Dividend Comparison
EL4X.DE's dividend yield for the trailing twelve months is around 4.73%, while MIVA.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% |
MIVA.DE Amundi MSCI Europe Minimum Volatility Factor UCITS ETF EUR (C) | 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 MIVA.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, MIVA.DE is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MIVA.DE is cheaper with a 0.23% expense ratio, compared with 0.30% for EL4X.DE.
EL4X.DE tracks DAXplus® Maximum Dividend, while MIVA.DE tracks MSCI Europe Minimum Volatility. They also come from different issuers: Deka and Amundi. Their fees differ too: 0.30% for EL4X.DE and 0.23% for MIVA.DE.
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