ELF0.DE vs. EL4X.DE
ELF0.DE (Deka DAX ex Financials 30 UCITS ETF) and EL4X.DE (Deka DAXplus Maximum Dividend UCITS ETF) are both Europe Equities funds from Deka - ELF0.DE tracks the DAX® ex Financials 30 while EL4X.DE tracks the DAXplus® Maximum Dividend. Both are passively managed. Over the past 10 years, ELF0.DE returned 7.06%/yr vs 1.88%/yr for EL4X.DE. Their correlation of 0.86 suggests significant overlap in exposure. Both charge a 0.30% expense ratio.
Performance
ELF0.DE vs. EL4X.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ELF0.DE achieves a 3.94% return, which is significantly lower than EL4X.DE's 6.39% return. Over the past 10 years, ELF0.DE has outperformed EL4X.DE with an annualized return of 7.06%, while EL4X.DE has yielded a comparatively lower 1.88% annualized return.
ELF0.DE
- 1D
- -0.59%
- 1M
- -2.04%
- 6M
- -1.24%
- YTD
- 3.94%
- 1Y
- 4.68%
- 3Y*
- 12.06%
- 5Y*
- 6.07%
- 10Y*
- 7.06%
EL4X.DE
- 1D
- 0.87%
- 1M
- -1.60%
- 6M
- 4.26%
- YTD
- 6.39%
- 1Y
- 6.06%
- 3Y*
- 8.30%
- 5Y*
- 2.51%
- 10Y*
- 1.88%
ELF0.DE vs. EL4X.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ELF0.DE Deka DAX ex Financials 30 UCITS ETF | 3.94% | 22.31% | 11.89% | 15.27% | -18.05% | 14.04% | 5.09% | 23.61% | -20.30% | 11.11% |
EL4X.DE Deka DAXplus Maximum Dividend UCITS ETF | 6.39% | 14.14% | -1.45% | 26.37% | -20.07% | 9.05% | -2.95% | 11.24% | -23.98% | 5.70% |
Correlation
The correlation between ELF0.DE and EL4X.DE is 0.74, 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 | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Jul 10, 2013 | 0.86 |
The correlation between ELF0.DE and EL4X.DE shifts across timeframes, from 0.74 (1 year) to 0.86 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ELF0.DE vs. EL4X.DE — Risk / Return Rank
ELF0.DE
EL4X.DE
ELF0.DE vs. EL4X.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Deka DAX ex Financials 30 UCITS ETF (ELF0.DE) and Deka DAXplus Maximum Dividend UCITS ETF (EL4X.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.
| ELF0.DE | EL4X.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.08 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.38 | 0.61 | -0.23 |
| Martin ratioReturn relative to average drawdown | 1.17 | 1.30 | -0.14 |
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Drawdowns
ELF0.DE vs. EL4X.DE - Drawdown Comparison
The maximum ELF0.DE drawdown since its inception was -41.12%, smaller than the maximum EL4X.DE drawdown of -56.06%. Use the drawdown chart below to compare losses from any high point for ELF0.DE and EL4X.DE.
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Drawdown Indicators
| ELF0.DE | EL4X.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.12% | -56.06% | +14.94% |
Max Drawdown (1Y)Largest decline over 1 year | -12.23% | -9.87% | -2.36% |
Max Drawdown (3Y)Largest decline over 3 years | -17.49% | -16.60% | -0.89% |
Max Drawdown (5Y)Largest decline over 5 years | -31.17% | -34.51% | +3.34% |
Max Drawdown (10Y)Largest decline over 10 years | -41.12% | -56.06% | +14.94% |
Current DrawdownCurrent decline from peak | -4.50% | -3.25% | -1.25% |
Average DrawdownAverage peak-to-trough decline | -8.49% | -14.55% | +6.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.01% | 4.64% | -0.63% |
Volatility
ELF0.DE vs. EL4X.DE - Volatility Comparison
The current volatility for Deka DAX ex Financials 30 UCITS ETF (ELF0.DE) is 5.43%, while Deka DAXplus Maximum Dividend UCITS ETF (EL4X.DE) has a volatility of 5.86%. This indicates that ELF0.DE experiences smaller price fluctuations and is considered to be less risky than EL4X.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ELF0.DE | EL4X.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.43% | 5.86% | -0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 14.85% | 13.32% | +1.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.56% | 16.00% | +1.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.47% | 17.04% | +1.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.62% | 18.18% | +0.44% |
ELF0.DE vs. EL4X.DE - Expense Ratio Comparison
Both ELF0.DE and EL4X.DE have an expense ratio of 0.30%.
Dividends
ELF0.DE vs. EL4X.DE - Dividend Comparison
ELF0.DE's dividend yield for the trailing twelve months is around 2.02%, less than EL4X.DE's 4.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EL4X.DE Deka DAXplus Maximum Dividend UCITS ETF | 4.56% | 5.11% | 7.17% | 5.99% | 8.64% | 3.83% | 2.89% | 6.21% | 0.42% | 7.17% | 7.37% | 5.62% |
ELF0.DE Deka DAX ex Financials 30 UCITS ETF | 2.02% | 2.10% | 2.35% | 3.01% | 2.78% | 1.58% | 1.74% | 2.22% | 2.59% | 2.24% | 1.99% | 2.18% |
Frequently Asked Questions
ELF0.DE and EL4X.DE have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.30% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
ELF0.DE and EL4X.DE have the same expense ratio: 0.30% per year.
ELF0.DE tracks DAX® ex Financials 30, while EL4X.DE tracks DAXplus® Maximum Dividend.
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