ELF1.DE vs. ^GDAXI
ELF1.DE (Deka MDAX UCITS ETF) is Europe Equities fund tracking the MDAX®, while ^GDAXI (DAX Performance Index) is an index. Over the past 10 years, ELF1.DE returned 4.24%/yr vs 9.44%/yr for ^GDAXI. Their correlation of 0.85 suggests significant overlap in exposure.
Performance
ELF1.DE vs. ^GDAXI - Performance Comparison
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Returns By Period
In the year-to-date period, ELF1.DE achieves a 6.68% return, which is significantly higher than ^GDAXI's 1.86% return. Over the past 10 years, ELF1.DE has underperformed ^GDAXI with an annualized return of 4.24%, while ^GDAXI has yielded a comparatively higher 9.44% annualized return.
ELF1.DE
- 1D
- 0.16%
- 1M
- 5.14%
- YTD
- 6.68%
- 6M
- 10.35%
- 1Y
- 5.03%
- 3Y*
- 6.10%
- 5Y*
- -1.03%
- 10Y*
- 4.24%
^GDAXI
- 1D
- 0.60%
- 1M
- 2.23%
- YTD
- 1.86%
- 6M
- 4.45%
- 1Y
- 2.75%
- 3Y*
- 16.04%
- 5Y*
- 9.71%
- 10Y*
- 9.44%
ELF1.DE vs. ^GDAXI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ELF1.DE Deka MDAX UCITS ETF | 6.68% | 19.01% | -5.82% | 7.32% | -28.88% | 13.39% | 8.33% | 30.58% | -17.98% | 17.52% |
^GDAXI DAX Performance Index | 1.86% | 23.01% | 18.85% | 20.31% | -12.35% | 15.79% | 3.55% | 25.48% | -18.26% | 12.51% |
Correlation
The correlation between ELF1.DE and ^GDAXI is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since May 14, 2014 | 0.85 |
The correlation between ELF1.DE and ^GDAXI has been stable across timeframes, ranging from 0.80 to 0.85 - a consistent structural relationship.
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Return for Risk
ELF1.DE vs. ^GDAXI — Risk / Return Rank
ELF1.DE
^GDAXI
ELF1.DE vs. ^GDAXI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Deka MDAX UCITS ETF (ELF1.DE) and DAX Performance Index (^GDAXI). 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.
| ELF1.DE | ^GDAXI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.04 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.35 | 0.22 | +0.12 |
| Martin ratioReturn relative to average drawdown | 0.94 | 0.70 | +0.24 |
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
| ELF1.DE | ^GDAXI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.27 | 0.17 | +0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.05 | 0.56 | -0.62 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.23 | 0.51 | -0.28 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.42 | -0.13 |
Drawdowns
ELF1.DE vs. ^GDAXI - Drawdown Comparison
The maximum ELF1.DE drawdown since its inception was -40.27%, smaller than the maximum ^GDAXI drawdown of -72.68%. Use the drawdown chart below to compare losses from any high point for ELF1.DE and ^GDAXI.
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Drawdown Indicators
| ELF1.DE | ^GDAXI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.27% | -72.68% | +32.41% |
Max Drawdown (1Y)Largest decline over 1 year | -14.46% | -12.27% | -2.19% |
Max Drawdown (3Y)Largest decline over 3 years | -18.45% | -16.01% | -2.44% |
Max Drawdown (5Y)Largest decline over 5 years | -40.27% | -26.40% | -13.87% |
Max Drawdown (10Y)Largest decline over 10 years | -40.27% | -38.78% | -1.49% |
Current DrawdownCurrent decline from peak | -11.79% | -1.87% | -9.92% |
Average DrawdownAverage peak-to-trough decline | -12.30% | -14.71% | +2.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.30% | 3.92% | +1.38% |
Volatility
ELF1.DE vs. ^GDAXI - Volatility Comparison
Deka MDAX UCITS ETF (ELF1.DE) and DAX Performance Index (^GDAXI) have volatilities of 5.03% and 5.14%, 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
| ELF1.DE | ^GDAXI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.03% | 5.14% | -0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 15.34% | 12.92% | +2.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.70% | 15.99% | +2.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.31% | 17.03% | +2.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.33% | 18.35% | -0.02% |
Frequently Asked Questions
ELF1.DE and ^GDAXI have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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