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EL4Z.DE vs. EL40.DE
Performance
Return for Risk
Dividends
Drawdowns
Volatility

EL4Z.DE vs. EL40.DE

Last updated Apr 3, 2026

Compare and contrast key facts about Deka MSCI USA UCITS ETF (EL4Z.DE) and Deka MSCI Emerging Markets UCITS ETF (EL40.DE).

EL4Z.DE and EL40.DE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EL4Z.DE is a passively managed fund by Deka Investment GmbH that tracks the performance of the MSCI USA. It was launched on Jun 8, 2009. EL40.DE is a passively managed fund by Deka Investment GmbH that tracks the performance of the MSCI Emerging Markets. It was launched on Jul 1, 2010. Both EL4Z.DE and EL40.DE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

EL4Z.DE vs. EL40.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Deka MSCI USA UCITS ETF (EL4Z.DE) and Deka MSCI Emerging Markets UCITS ETF (EL40.DE). The values are adjusted to include any dividend payments, if applicable.

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EL4Z.DE vs. EL40.DE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EL4Z.DE
Deka MSCI USA UCITS ETF		-3.05%3.99%32.17%22.99%-16.37%38.20%9.12%33.84%-1.63%6.08%
EL40.DE
Deka MSCI Emerging Markets UCITS ETF 		4.45%17.86%13.11%4.33%-14.87%4.55%5.36%20.78%-11.51%19.00%

Returns By Period

In the year-to-date period, EL4Z.DE achieves a -3.05% return, which is significantly lower than EL40.DE's 4.45% return. Over the past 10 years, EL4Z.DE has outperformed EL40.DE with an annualized return of 13.12%, while EL40.DE has yielded a comparatively lower 7.07% annualized return.

EL4Z.DE

1D
0.23%
1M
-2.37%
YTD
-3.05%
6M
-0.71%
1Y
9.94%
3Y*
15.70%
5Y*
11.16%
10Y*
13.12%

EL40.DE

1D
-1.43%
1M
-2.13%
YTD
4.45%
6M
7.62%
1Y
23.59%
3Y*
12.61%
5Y*
3.34%
10Y*
7.07%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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Deka MSCI USA UCITS ETF

Deka MSCI Emerging Markets UCITS ETF

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Often compared with EL40.DE:
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EL4Z.DE vs. EL40.DE - Expense Ratio Comparison

EL4Z.DE has a 0.30% expense ratio, which is lower than EL40.DE's 0.66% expense ratio.

EL40.DE
Deka MSCI Emerging Markets UCITS ETF
EL4Z.DE
Deka MSCI USA UCITS ETF

Return for Risk

EL4Z.DE vs. EL40.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EL4Z.DE
EL4Z.DE Risk / Return Rank: 4242
Overall Rank
EL4Z.DE Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
EL4Z.DE Sortino Ratio Rank: 2626
Sortino Ratio Rank
EL4Z.DE Omega Ratio Rank: 2828
Omega Ratio Rank
EL4Z.DE Calmar Ratio Rank: 6767
Calmar Ratio Rank
EL4Z.DE Martin Ratio Rank: 5959
Martin Ratio Rank
EL40.DE
EL40.DE Risk / Return Rank: 4848
Overall Rank
EL40.DE Sharpe Ratio Rank: 4545
Sharpe Ratio Rank
EL40.DE Sortino Ratio Rank: 5050
Sortino Ratio Rank
EL40.DE Omega Ratio Rank: 6060
Omega Ratio Rank
EL40.DE Calmar Ratio Rank: 5353
Calmar Ratio Rank
EL40.DE Martin Ratio Rank: 3535
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EL4Z.DE vs. EL40.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Deka MSCI USA UCITS ETF (EL4Z.DE) and Deka MSCI Emerging Markets UCITS ETF (EL40.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.

EL4Z.DEEL40.DEDifference

Sharpe ratio

Return per unit of total volatility

0.56

0.88

-0.32

Sortino ratio

Return per unit of downside risk

0.86

1.41

-0.55

Omega ratio

Gain probability vs. loss probability

1.13

1.23

-0.10

Calmar ratio

Return relative to maximum drawdown

2.19

1.67

+0.52

Martin ratio

Return relative to average drawdown

7.25

4.09

+3.16

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EL4Z.DE vs. EL40.DE - Sharpe Ratio Comparison

The current EL4Z.DE Sharpe Ratio is 0.56, which is lower than the EL40.DE Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of EL4Z.DE and EL40.DE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

EL4Z.DEEL40.DEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.56

0.88

-0.32

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.71

0.16

+0.55

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.80

0.35

+0.45

Sharpe Ratio (All Time)

Calculated using the full available price history

0.94

0.24

+0.71

Correlation

The correlation between EL4Z.DE and EL40.DE is 0.62, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

EL4Z.DE vs. EL40.DE - Dividend Comparison

EL4Z.DE's dividend yield for the trailing twelve months is around 0.56%, while EL40.DE has not paid dividends to shareholders.

TTM20252024202320222021202020192018201720162015
EL4Z.DE
Deka MSCI USA UCITS ETF		0.56%0.57%0.74%1.23%1.09%0.52%0.90%0.95%1.16%1.03%1.07%1.47%
EL40.DE
Deka MSCI Emerging Markets UCITS ETF 		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.07%0.00%0.02%0.00%

Drawdowns

EL4Z.DE vs. EL40.DE - Drawdown Comparison

The maximum EL4Z.DE drawdown since its inception was -34.19%, smaller than the maximum EL40.DE drawdown of -36.65%. Use the drawdown chart below to compare losses from any high point for EL4Z.DE and EL40.DE.

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Drawdown Indicators

EL4Z.DEEL40.DEDifference

Max Drawdown

Largest peak-to-trough decline

-34.19%

-36.65%

+2.46%

Max Drawdown (1Y)

Largest decline over 1 year

-8.66%

-16.53%

+7.87%

Max Drawdown (5Y)

Largest decline over 5 years

-24.03%

-25.06%

+1.03%

Max Drawdown (10Y)

Largest decline over 10 years

-34.19%

-31.59%

-2.60%

Current Drawdown

Current decline from peak

-5.19%

-9.23%

+4.04%

Average Drawdown

Average peak-to-trough decline

-4.26%

-11.70%

+7.44%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.25%

6.77%

-4.52%

Volatility

EL4Z.DE vs. EL40.DE - Volatility Comparison

The current volatility for Deka MSCI USA UCITS ETF (EL4Z.DE) is 3.74%, while Deka MSCI Emerging Markets UCITS ETF (EL40.DE) has a volatility of 7.61%. This indicates that EL4Z.DE experiences smaller price fluctuations and is considered to be less risky than EL40.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EL4Z.DEEL40.DEDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.74%

7.61%

-3.87%

Volatility (6M)

Calculated over the trailing 6-month period

8.74%

23.16%

-14.42%

Volatility (1Y)

Calculated over the trailing 1-year period

17.75%

26.65%

-8.90%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.49%

20.28%

-4.79%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.27%

20.27%

-4.00%