ELFA.DE vs. EL4X.DE
ELFA.DE (Deka EURO STOXX 50 (thesaurierend) UCITS ETF) and EL4X.DE (Deka DAXplus Maximum Dividend UCITS ETF) are both Europe Equities funds from Deka - ELFA.DE tracks the EURO STOXX® 50 while EL4X.DE tracks the DAXplus® Maximum Dividend. Both are passively managed. Over the past 10 years, ELFA.DE returned 11.02%/yr vs 1.88%/yr for EL4X.DE. Their correlation of 0.81 suggests significant overlap in exposure. ELFA.DE charges 0.15%/yr vs 0.30%/yr for EL4X.DE.
Performance
ELFA.DE vs. EL4X.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ELFA.DE achieves a 8.04% return, which is significantly higher than EL4X.DE's 6.39% return. Over the past 10 years, ELFA.DE has outperformed EL4X.DE with an annualized return of 11.02%, while EL4X.DE has yielded a comparatively lower 1.88% annualized return.
ELFA.DE
- 1D
- 0.16%
- 1M
- 0.53%
- 6M
- 5.32%
- YTD
- 8.04%
- 1Y
- 18.99%
- 3Y*
- 15.29%
- 5Y*
- 12.71%
- 10Y*
- 11.02%
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%
ELFA.DE vs. EL4X.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ELFA.DE Deka EURO STOXX 50 (thesaurierend) UCITS ETF | 8.04% | 22.03% | 13.92% | 23.28% | -10.58% | 27.40% | -3.88% | 29.78% | -11.88% | 10.02% |
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 ELFA.DE and EL4X.DE is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since May 4, 2015 | 0.81 |
The correlation between ELFA.DE and EL4X.DE shifts across timeframes, from 0.69 (1 year) to 0.81 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ELFA.DE vs. EL4X.DE — Risk / Return Rank
ELFA.DE
EL4X.DE
ELFA.DE vs. EL4X.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Deka EURO STOXX 50 (thesaurierend) UCITS ETF (ELFA.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.
| ELFA.DE | EL4X.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.73 | ||
| Sortino ratioReturn per unit of downside risk | +1.12 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.08 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.54 | 0.61 | +0.93 |
| Martin ratioReturn relative to average drawdown | 5.14 | 1.30 | +3.84 |
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Drawdowns
ELFA.DE vs. EL4X.DE - Drawdown Comparison
The maximum ELFA.DE drawdown since its inception was -38.14%, smaller than the maximum EL4X.DE drawdown of -56.06%. Use the drawdown chart below to compare losses from any high point for ELFA.DE and EL4X.DE.
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Drawdown Indicators
| ELFA.DE | EL4X.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.14% | -56.06% | +17.92% |
Max Drawdown (1Y)Largest decline over 1 year | -12.29% | -9.87% | -2.42% |
Max Drawdown (3Y)Largest decline over 3 years | -16.35% | -16.60% | +0.25% |
Max Drawdown (5Y)Largest decline over 5 years | -23.33% | -34.51% | +11.18% |
Max Drawdown (10Y)Largest decline over 10 years | -38.14% | -56.06% | +17.92% |
Current DrawdownCurrent decline from peak | -1.69% | -3.25% | +1.56% |
Average DrawdownAverage peak-to-trough decline | -6.53% | -14.55% | +8.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.69% | 4.64% | -0.95% |
Volatility
ELFA.DE vs. EL4X.DE - Volatility Comparison
The current volatility for Deka EURO STOXX 50 (thesaurierend) UCITS ETF (ELFA.DE) is 3.99%, while Deka DAXplus Maximum Dividend UCITS ETF (EL4X.DE) has a volatility of 5.86%. This indicates that ELFA.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
| ELFA.DE | EL4X.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.99% | 5.86% | -1.87% |
Volatility (6M)Calculated over the trailing 6-month period | 14.35% | 13.32% | +1.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.03% | 16.00% | +1.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.89% | 17.04% | +0.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.05% | 18.18% | -0.13% |
ELFA.DE vs. EL4X.DE - Expense Ratio Comparison
ELFA.DE has a 0.15% expense ratio, which is lower than EL4X.DE's 0.30% expense ratio.
Dividends
ELFA.DE vs. EL4X.DE - Dividend Comparison
ELFA.DE's dividend yield for the trailing twelve months is around 2.35%, 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% |
ELFA.DE Deka EURO STOXX 50 (thesaurierend) UCITS ETF | 2.35% | 2.29% | 2.65% | 3.30% | 1.48% | 2.07% | 0.00% | 0.00% | 0.73% | 0.81% | 0.59% | 0.00% |
Frequently Asked Questions
ELFA.DE and EL4X.DE have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ELFA.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ELFA.DE is cheaper with a 0.15% expense ratio, compared with 0.30% for EL4X.DE.
ELFA.DE tracks EURO STOXX® 50, while EL4X.DE tracks DAXplus® Maximum Dividend. Their fees differ too: 0.15% for ELFA.DE and 0.30% for EL4X.DE.
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