EL4Z.DE vs. IBCY.DE
EL4Z.DE (Deka MSCI USA UCITS ETF) and IBCY.DE (iShares Edge MSCI USA Multifactor UCITS ETF) are both Large Cap Blend Equities funds - EL4Z.DE tracks the MSCI USA while IBCY.DE tracks the MSCI USA Diversified Multiple-Factor. Both are passively managed. Over the past 10 years, EL4Z.DE returned 14.39%/yr vs 11.22%/yr for IBCY.DE. Their correlation of 0.93 suggests significant overlap in exposure. EL4Z.DE charges 0.30%/yr vs 0.35%/yr for IBCY.DE.
Performance
EL4Z.DE vs. IBCY.DE - Performance Comparison
Loading charts...
Returns By Period
Over the past 10 years, EL4Z.DE has outperformed IBCY.DE with an annualized return of 14.39%, while IBCY.DE has yielded a comparatively lower 11.22% annualized return.
EL4Z.DE
- 1D
- -0.11%
- 1M
- 5.30%
- YTD
- 11.05%
- 6M
- 11.03%
- 1Y
- 24.63%
- 3Y*
- 18.53%
- 5Y*
- 13.83%
- 10Y*
- 14.39%
IBCY.DE
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.00%
- 1Y
- 13.35%
- 3Y*
- 13.97%
- 5Y*
- 10.27%
- 10Y*
- 11.22%
EL4Z.DE vs. IBCY.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EL4Z.DE Deka MSCI USA UCITS ETF | 11.05% | 3.99% | 32.17% | 22.99% | -16.37% | 38.20% | 9.12% | 33.84% | -1.63% | 6.08% |
IBCY.DE iShares Edge MSCI USA Multifactor UCITS ETF | 0.00% | 6.35% | 29.21% | 13.73% | -11.70% | 36.60% | 0.17% | 28.63% | -6.73% | 6.21% |
Correlation
The correlation between EL4Z.DE and IBCY.DE is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Sep 10, 2015 | 0.93 |
Over the past year, the correlation between EL4Z.DE and IBCY.DE has dropped to 0.56 - well below their long-term average of 0.93, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
EL4Z.DE vs. IBCY.DE — Risk / Return Rank
EL4Z.DE
IBCY.DE
EL4Z.DE vs. IBCY.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Deka MSCI USA UCITS ETF (EL4Z.DE) and iShares Edge MSCI USA Multifactor UCITS ETF (IBCY.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.DE | IBCY.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.39 | ||
| Sortino ratioReturn per unit of downside risk | +0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.56 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 3.31 | 4.08 | -0.78 |
| Martin ratioReturn relative to average drawdown | 11.44 | 19.99 | -8.55 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| EL4Z.DE | IBCY.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.09 | 1.70 | +0.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.88 | 0.69 | +0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.88 | 0.69 | +0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.99 | 0.63 | +0.36 |
Drawdowns
EL4Z.DE vs. IBCY.DE - Drawdown Comparison
The maximum EL4Z.DE drawdown since its inception was -34.19%, roughly equal to the maximum IBCY.DE drawdown of -35.54%. Use the drawdown chart below to compare losses from any high point for EL4Z.DE and IBCY.DE.
Loading charts...
Drawdown Indicators
| EL4Z.DE | IBCY.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.19% | -35.54% | +1.35% |
Max Drawdown (1Y)Largest decline over 1 year | -7.42% | -3.26% | -4.16% |
Max Drawdown (3Y)Largest decline over 3 years | -24.03% | -22.91% | -1.12% |
Max Drawdown (5Y)Largest decline over 5 years | -24.03% | -22.91% | -1.12% |
Max Drawdown (10Y)Largest decline over 10 years | -34.19% | -35.54% | +1.35% |
Current DrawdownCurrent decline from peak | -0.40% | 0.00% | -0.40% |
Average DrawdownAverage peak-to-trough decline | -4.23% | -4.95% | +0.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.15% | 0.67% | +1.48% |
Volatility
EL4Z.DE vs. IBCY.DE - Volatility Comparison
Deka MSCI USA UCITS ETF (EL4Z.DE) has a higher volatility of 2.74% compared to iShares Edge MSCI USA Multifactor UCITS ETF (IBCY.DE) at 0.00%. This indicates that EL4Z.DE's price experiences larger fluctuations and is considered to be riskier than IBCY.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| EL4Z.DE | IBCY.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.74% | 0.00% | +2.74% |
Volatility (6M)Calculated over the trailing 6-month period | 7.70% | 0.00% | +7.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.74% | 7.99% | +3.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.48% | 14.77% | +0.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.22% | 16.12% | +0.10% |
EL4Z.DE vs. IBCY.DE - Expense Ratio Comparison
EL4Z.DE has a 0.30% expense ratio, which is lower than IBCY.DE's 0.35% expense ratio.
Dividends
EL4Z.DE vs. IBCY.DE - Dividend Comparison
EL4Z.DE's dividend yield for the trailing twelve months is around 0.49%, while IBCY.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EL4Z.DE Deka MSCI USA UCITS ETF | 0.49% | 0.57% | 0.74% | 1.23% | 1.09% | 0.52% | 0.90% | 0.95% | 1.16% | 1.03% | 1.07% | 1.47% |
IBCY.DE iShares Edge MSCI USA Multifactor 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
EL4Z.DE and IBCY.DE have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EL4Z.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EL4Z.DE is cheaper with a 0.30% expense ratio, compared with 0.35% for IBCY.DE.
EL4Z.DE tracks MSCI USA, while IBCY.DE tracks MSCI USA Diversified Multiple-Factor. They also come from different issuers: Deka Investment GmbH and iShares. Their fees differ too: 0.30% for EL4Z.DE and 0.35% for IBCY.DE.
Find the right allocation for EL4Z.DE and IBCY.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer