EL4Z.DE vs. IQQN.DE
EL4Z.DE (Deka MSCI USA UCITS ETF) and IQQN.DE (iShares MSCI North America UCITS ETF) are both Large Cap Blend Equities funds - EL4Z.DE tracks the MSCI USA while IQQN.DE tracks the MSCI North America. Both are passively managed. Over the past 10 years, EL4Z.DE returned 14.39%/yr vs 14.38%/yr for IQQN.DE. With a 0.95 correlation, they move nearly in lockstep. EL4Z.DE charges 0.30%/yr vs 0.40%/yr for IQQN.DE.
Performance
EL4Z.DE vs. IQQN.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with EL4Z.DE having a 11.05% return and IQQN.DE slightly higher at 11.09%. Both investments have delivered pretty close results over the past 10 years, with EL4Z.DE having a 14.39% annualized return and IQQN.DE not far behind at 14.38%.
EL4Z.DE
- 1D
- -0.11%
- 1M
- 4.50%
- YTD
- 11.05%
- 6M
- 10.47%
- 1Y
- 24.48%
- 3Y*
- 18.53%
- 5Y*
- 13.83%
- 10Y*
- 14.39%
IQQN.DE
- 1D
- -0.05%
- 1M
- 4.42%
- YTD
- 11.09%
- 6M
- 10.54%
- 1Y
- 24.97%
- 3Y*
- 18.64%
- 5Y*
- 13.97%
- 10Y*
- 14.38%
EL4Z.DE vs. IQQN.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% |
IQQN.DE iShares MSCI North America UCITS ETF | 11.09% | 4.95% | 31.43% | 22.31% | -15.50% | 38.10% | 8.53% | 34.21% | -2.31% | 6.17% |
Correlation
The correlation between EL4Z.DE and IQQN.DE is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 1.00 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2009 | 0.95 |
The correlation between EL4Z.DE and IQQN.DE has been stable across timeframes, ranging from 0.95 to 1.00 - a consistent structural relationship.
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Return for Risk
EL4Z.DE vs. IQQN.DE — Risk / Return Rank
EL4Z.DE
IQQN.DE
EL4Z.DE vs. IQQN.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 MSCI North America UCITS ETF (IQQN.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 | IQQN.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.40 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.31 | 3.46 | -0.16 |
| Martin ratioReturn relative to average drawdown | 11.44 | 12.25 | -0.81 |
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
| EL4Z.DE | IQQN.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.09 | 2.16 | -0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.88 | 0.91 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.88 | 0.89 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.99 | 0.59 | +0.41 |
Drawdowns
EL4Z.DE vs. IQQN.DE - Drawdown Comparison
The maximum EL4Z.DE drawdown since its inception was -34.19%, smaller than the maximum IQQN.DE drawdown of -52.40%. Use the drawdown chart below to compare losses from any high point for EL4Z.DE and IQQN.DE.
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Drawdown Indicators
| EL4Z.DE | IQQN.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.19% | -52.40% | +18.21% |
Max Drawdown (1Y)Largest decline over 1 year | -7.42% | -7.22% | -0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -24.03% | -23.46% | -0.57% |
Max Drawdown (5Y)Largest decline over 5 years | -24.03% | -23.46% | -0.57% |
Max Drawdown (10Y)Largest decline over 10 years | -34.19% | -34.38% | +0.19% |
Current DrawdownCurrent decline from peak | -0.40% | -0.35% | -0.05% |
Average DrawdownAverage peak-to-trough decline | -4.23% | -9.11% | +4.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.15% | 2.05% | +0.10% |
Volatility
EL4Z.DE vs. IQQN.DE - Volatility Comparison
Deka MSCI USA UCITS ETF (EL4Z.DE) and iShares MSCI North America UCITS ETF (IQQN.DE) have volatilities of 2.74% and 2.66%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EL4Z.DE | IQQN.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.74% | 2.66% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 7.70% | 7.55% | +0.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.74% | 11.56% | +0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.48% | 15.24% | +0.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.22% | 16.09% | +0.13% |
EL4Z.DE vs. IQQN.DE - Expense Ratio Comparison
EL4Z.DE has a 0.30% expense ratio, which is lower than IQQN.DE's 0.40% expense ratio.
Dividends
EL4Z.DE vs. IQQN.DE - Dividend Comparison
EL4Z.DE's dividend yield for the trailing twelve months is around 0.49%, less than IQQN.DE's 0.61% yield.
| 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% |
IQQN.DE iShares MSCI North America UCITS ETF | 0.61% | 0.68% | 0.75% | 0.99% | 1.15% | 0.73% | 1.09% | 1.22% | 1.42% | 1.34% | 1.37% | 1.53% |
Frequently Asked Questions
With a correlation of 0.99, EL4Z.DE and IQQN.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
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 0.40% for IQQN.DE.
EL4Z.DE tracks MSCI USA, while IQQN.DE tracks MSCI North America. They also come from different issuers: Deka Investment GmbH and iShares. Their fees differ too: 0.30% for EL4Z.DE and 0.40% for IQQN.DE.
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