EL4X.DE vs. MVEE.DE
EL4X.DE (Deka DAXplus Maximum Dividend UCITS ETF) and MVEE.DE (iShares Edge MSCI Europe Minimum Volatility ESG UCITS ETF (Acc)) are both Europe Equities funds - EL4X.DE tracks the DAXplus® Maximum Dividend while MVEE.DE tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 5 years, EL4X.DE returned 2.63%/yr vs 6.17%/yr for MVEE.DE. A 0.73 correlation means they provide meaningful diversification when combined. EL4X.DE charges 0.30%/yr vs 0.25%/yr for MVEE.DE.
Performance
EL4X.DE vs. MVEE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EL4X.DE achieves a 6.52% return, which is significantly lower than MVEE.DE's 8.14% return.
EL4X.DE
- 1D
- 0.44%
- 1M
- -1.28%
- YTD
- 6.52%
- 6M
- 7.70%
- 1Y
- 8.71%
- 3Y*
- 9.77%
- 5Y*
- 2.63%
- 10Y*
- 3.27%
MVEE.DE
- 1D
- 0.92%
- 1M
- 1.27%
- YTD
- 8.14%
- 6M
- 8.67%
- 1Y
- 11.72%
- 3Y*
- 10.33%
- 5Y*
- 6.17%
- 10Y*
- —
EL4X.DE vs. MVEE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
EL4X.DE Deka DAXplus Maximum Dividend UCITS ETF | 6.52% | 14.14% | -1.45% | 26.37% | -20.07% | 9.05% | 39.90% |
MVEE.DE iShares Edge MSCI Europe Minimum Volatility ESG UCITS ETF (Acc) | 8.14% | 8.71% | 8.75% | 12.46% | -15.04% | 23.79% | 13.95% |
Correlation
The correlation between EL4X.DE and MVEE.DE is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Apr 17, 2020 | 0.73 |
The correlation between EL4X.DE and MVEE.DE shifts across timeframes, from 0.57 (1 year) to 0.73 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EL4X.DE vs. MVEE.DE — Risk / Return Rank
EL4X.DE
MVEE.DE
EL4X.DE vs. MVEE.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 ESG UCITS ETF (Acc) (MVEE.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 | MVEE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.62 | ||
| Sortino ratioReturn per unit of downside risk | -0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.22 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.88 | 1.58 | -0.70 |
| Martin ratioReturn relative to average drawdown | 1.89 | 5.45 | -3.56 |
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Drawdowns
EL4X.DE vs. MVEE.DE - Drawdown Comparison
The maximum EL4X.DE drawdown since its inception was -52.91%, which is greater than MVEE.DE's maximum drawdown of -20.19%. Use the drawdown chart below to compare losses from any high point for EL4X.DE and MVEE.DE.
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Drawdown Indicators
| EL4X.DE | MVEE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.91% | -20.19% | -32.72% |
Max Drawdown (1Y)Largest decline over 1 year | -9.87% | -7.40% | -2.47% |
Max Drawdown (3Y)Largest decline over 3 years | -16.60% | -12.19% | -4.41% |
Max Drawdown (5Y)Largest decline over 5 years | -34.51% | -20.19% | -14.32% |
Max Drawdown (10Y)Largest decline over 10 years | -52.91% | — | — |
Current DrawdownCurrent decline from peak | -2.41% | 0.00% | -2.41% |
Average DrawdownAverage peak-to-trough decline | -12.10% | -4.50% | -7.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.60% | 2.15% | +2.45% |
Volatility
EL4X.DE vs. MVEE.DE - Volatility Comparison
Deka DAXplus Maximum Dividend UCITS ETF (EL4X.DE) has a higher volatility of 4.66% compared to iShares Edge MSCI Europe Minimum Volatility ESG UCITS ETF (Acc) (MVEE.DE) at 2.19%. This indicates that EL4X.DE's price experiences larger fluctuations and is considered to be riskier than MVEE.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 | MVEE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.66% | 2.19% | +2.47% |
Volatility (6M)Calculated over the trailing 6-month period | 12.17% | 8.16% | +4.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.36% | 9.93% | +5.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.91% | 12.08% | +4.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.10% | 12.47% | +5.63% |
EL4X.DE vs. MVEE.DE - Expense Ratio Comparison
EL4X.DE has a 0.30% expense ratio, which is higher than MVEE.DE's 0.25% expense ratio.
Dividends
EL4X.DE vs. MVEE.DE - Dividend Comparison
EL4X.DE's dividend yield for the trailing twelve months is around 4.71%, while MVEE.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 | 4.71% | 5.11% | 7.17% | 5.99% | 8.64% | 3.83% | 2.89% | 6.66% | 8.48% | 7.17% | 7.37% | 5.62% |
MVEE.DE iShares Edge MSCI Europe Minimum Volatility ESG UCITS ETF (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 MVEE.DE have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MVEE.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MVEE.DE is cheaper with a 0.25% expense ratio, compared with 0.30% for EL4X.DE.
EL4X.DE tracks DAXplus® Maximum Dividend, while MVEE.DE tracks MSCI Europe NR EUR. They also come from different issuers: Deka and iShares. Their fees differ too: 0.30% for EL4X.DE and 0.25% for MVEE.DE.
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