ELF1.DE vs. IBCJ.DE
ELF1.DE (Deka MDAX UCITS ETF) and IBCJ.DE (iShares MSCI Poland UCITS ETF USD (Acc)) are both Europe Equities funds - ELF1.DE tracks the MDAX® while IBCJ.DE tracks the MSCI Poland. Both are passively managed. Over the past 10 years, ELF1.DE returned 4.24%/yr vs 9.17%/yr for IBCJ.DE. A 0.54 correlation means they provide meaningful diversification when combined. ELF1.DE charges 0.30%/yr vs 0.74%/yr for IBCJ.DE.
Performance
ELF1.DE vs. IBCJ.DE - 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 lower than IBCJ.DE's 16.30% return. Over the past 10 years, ELF1.DE has underperformed IBCJ.DE with an annualized return of 4.24%, while IBCJ.DE has yielded a comparatively higher 9.17% 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%
IBCJ.DE
- 1D
- 0.17%
- 1M
- 5.66%
- YTD
- 16.30%
- 6M
- 25.77%
- 1Y
- 38.98%
- 3Y*
- 29.89%
- 5Y*
- 14.80%
- 10Y*
- 9.17%
ELF1.DE vs. IBCJ.DE - 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% |
IBCJ.DE iShares MSCI Poland UCITS ETF USD (Acc) | 16.30% | 53.66% | -0.42% | 43.86% | -21.74% | 14.34% | -18.69% | -3.73% | -9.07% | 35.59% |
Correlation
The correlation between ELF1.DE and IBCJ.DE is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since May 14, 2014 | 0.54 |
The correlation between ELF1.DE and IBCJ.DE has been stable across timeframes, ranging from 0.52 to 0.56 - a consistent structural relationship.
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Return for Risk
ELF1.DE vs. IBCJ.DE — Risk / Return Rank
ELF1.DE
IBCJ.DE
ELF1.DE vs. IBCJ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Deka MDAX UCITS ETF (ELF1.DE) and iShares MSCI Poland UCITS ETF USD (Acc) (IBCJ.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.
| ELF1.DE | IBCJ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.39 | ||
| Sortino ratioReturn per unit of downside risk | -1.81 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.28 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.35 | 3.90 | -3.55 |
| Martin ratioReturn relative to average drawdown | 0.94 | 9.60 | -8.66 |
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 | IBCJ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.27 | 1.65 | -1.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.05 | 0.55 | -0.60 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.23 | 0.36 | -0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.15 | +0.14 |
Drawdowns
ELF1.DE vs. IBCJ.DE - Drawdown Comparison
The maximum ELF1.DE drawdown since its inception was -40.27%, smaller than the maximum IBCJ.DE drawdown of -56.11%. Use the drawdown chart below to compare losses from any high point for ELF1.DE and IBCJ.DE.
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Drawdown Indicators
| ELF1.DE | IBCJ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.27% | -56.11% | +15.84% |
Max Drawdown (1Y)Largest decline over 1 year | -14.46% | -9.96% | -4.50% |
Max Drawdown (3Y)Largest decline over 3 years | -18.45% | -18.47% | +0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -40.27% | -47.31% | +7.04% |
Max Drawdown (10Y)Largest decline over 10 years | -40.27% | -56.11% | +15.84% |
Current DrawdownCurrent decline from peak | -11.79% | -1.16% | -10.63% |
Average DrawdownAverage peak-to-trough decline | -12.30% | -19.38% | +7.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.30% | 4.05% | +1.25% |
Volatility
ELF1.DE vs. IBCJ.DE - Volatility Comparison
The current volatility for Deka MDAX UCITS ETF (ELF1.DE) is 5.03%, while iShares MSCI Poland UCITS ETF USD (Acc) (IBCJ.DE) has a volatility of 7.13%. This indicates that ELF1.DE experiences smaller price fluctuations and is considered to be less risky than IBCJ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ELF1.DE | IBCJ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.03% | 7.13% | -2.10% |
Volatility (6M)Calculated over the trailing 6-month period | 15.34% | 17.61% | -2.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.70% | 23.48% | -4.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.31% | 26.72% | -7.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.33% | 25.15% | -6.82% |
ELF1.DE vs. IBCJ.DE - Expense Ratio Comparison
ELF1.DE has a 0.30% expense ratio, which is lower than IBCJ.DE's 0.74% expense ratio.
Dividends
ELF1.DE vs. IBCJ.DE - Dividend Comparison
Neither ELF1.DE nor IBCJ.DE has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ELF1.DE Deka MDAX UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.48% | 0.46% | 0.44% | 0.41% |
IBCJ.DE iShares MSCI Poland UCITS ETF USD (Acc) | 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
ELF1.DE and IBCJ.DE have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ELF1.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ELF1.DE is cheaper with a 0.30% expense ratio, compared with 0.74% for IBCJ.DE.
ELF1.DE tracks MDAX®, while IBCJ.DE tracks MSCI Poland. They also come from different issuers: Deka and iShares. Their fees differ too: 0.30% for ELF1.DE and 0.74% for IBCJ.DE.
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