ELFA.DE vs. H4ZA.DE
ELFA.DE (Deka EURO STOXX 50 (thesaurierend) UCITS ETF) and H4ZA.DE (HSBC EURO STOXX 50 UCITS ETF EUR) are both Europe Equities funds tracking the EURO STOXX® 50, from Deka and HSBC respectively. Both are passively managed. Over the past 10 years, ELFA.DE returned 10.55%/yr vs 10.80%/yr for H4ZA.DE. Their correlation of 0.87 suggests significant overlap in exposure. ELFA.DE charges 0.15%/yr vs 0.05%/yr for H4ZA.DE.
Performance
ELFA.DE vs. H4ZA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ELFA.DE achieves a 4.66% return, which is significantly lower than H4ZA.DE's 7.24% return. Both investments have delivered pretty close results over the past 10 years, with ELFA.DE having a 10.55% annualized return and H4ZA.DE not far ahead at 10.80%.
ELFA.DE
- 1D
- 0.96%
- 1M
- 3.30%
- YTD
- 4.66%
- 6M
- 6.14%
- 1Y
- 13.01%
- 3Y*
- 15.42%
- 5Y*
- 11.83%
- 10Y*
- 10.55%
H4ZA.DE
- 1D
- 0.77%
- 1M
- 1.94%
- YTD
- 7.24%
- 6M
- 8.59%
- 1Y
- 15.63%
- 3Y*
- 16.60%
- 5Y*
- 12.12%
- 10Y*
- 10.80%
ELFA.DE vs. H4ZA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ELFA.DE Deka EURO STOXX 50 (thesaurierend) UCITS ETF | 4.66% | 22.03% | 13.92% | 23.28% | -10.08% | 26.68% | -3.88% | 29.78% | -11.88% | 10.02% |
H4ZA.DE HSBC EURO STOXX 50 UCITS ETF EUR | 7.24% | 22.26% | 13.81% | 22.59% | -8.87% | 23.72% | -2.73% | 30.07% | -11.96% | 10.07% |
Correlation
The correlation between ELFA.DE and H4ZA.DE is 0.96 - 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 | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since May 20, 2015 | 0.87 |
The correlation between ELFA.DE and H4ZA.DE has been stable across timeframes, ranging from 0.87 to 0.96 - a consistent structural relationship.
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Return for Risk
ELFA.DE vs. H4ZA.DE — Risk / Return Rank
ELFA.DE
H4ZA.DE
ELFA.DE vs. H4ZA.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 HSBC EURO STOXX 50 UCITS ETF EUR (H4ZA.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.
| ELFA.DE | H4ZA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.18 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 1.43 | -0.33 |
| Martin ratioReturn relative to average drawdown | 3.54 | 4.85 | -1.31 |
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
| ELFA.DE | H4ZA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.78 | 0.98 | -0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.66 | 0.69 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.60 | 0.59 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.41 | +0.03 |
Drawdowns
ELFA.DE vs. H4ZA.DE - Drawdown Comparison
The maximum ELFA.DE drawdown since its inception was -38.14%, roughly equal to the maximum H4ZA.DE drawdown of -38.41%. Use the drawdown chart below to compare losses from any high point for ELFA.DE and H4ZA.DE.
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Drawdown Indicators
| ELFA.DE | H4ZA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.14% | -38.41% | +0.27% |
Max Drawdown (1Y)Largest decline over 1 year | -12.29% | -10.97% | -1.32% |
Max Drawdown (3Y)Largest decline over 3 years | -16.35% | -16.40% | +0.05% |
Max Drawdown (5Y)Largest decline over 5 years | -23.33% | -23.26% | -0.07% |
Max Drawdown (10Y)Largest decline over 10 years | -38.14% | -38.41% | +0.27% |
Current DrawdownCurrent decline from peak | -0.20% | -0.50% | +0.30% |
Average DrawdownAverage peak-to-trough decline | -6.32% | -7.84% | +1.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.80% | 3.24% | +0.56% |
Volatility
ELFA.DE vs. H4ZA.DE - Volatility Comparison
Deka EURO STOXX 50 (thesaurierend) UCITS ETF (ELFA.DE) and HSBC EURO STOXX 50 UCITS ETF EUR (H4ZA.DE) have volatilities of 4.91% and 4.95%, 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
| ELFA.DE | H4ZA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.91% | 4.95% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 13.88% | 12.99% | +0.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.15% | 15.99% | +1.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.86% | 17.50% | +0.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.26% | 18.17% | +1.09% |
ELFA.DE vs. H4ZA.DE - Expense Ratio Comparison
ELFA.DE has a 0.15% expense ratio, which is higher than H4ZA.DE's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
ELFA.DE vs. H4ZA.DE - Dividend Comparison
ELFA.DE's dividend yield for the trailing twelve months is around 2.18%, less than H4ZA.DE's 2.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ELFA.DE Deka EURO STOXX 50 (thesaurierend) UCITS ETF | 2.18% | 2.29% | 2.65% | 3.30% | 1.48% | 2.09% | 0.00% | 0.00% | 0.73% | 0.81% | 0.59% | 0.00% |
H4ZA.DE HSBC EURO STOXX 50 UCITS ETF EUR | 2.44% | 2.49% | 5.35% | 2.93% | 2.94% | 1.94% | 2.06% | 2.84% | 3.55% | 2.73% | 2.85% | 2.70% |
Frequently Asked Questions
With a correlation of 0.96, ELFA.DE and H4ZA.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, H4ZA.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4ZA.DE is cheaper with a 0.05% expense ratio, compared with 0.15% for ELFA.DE.
Both ETFs track EURO STOXX® 50. They also come from different issuers: Deka and HSBC. Their fees differ too: 0.15% for ELFA.DE and 0.05% for H4ZA.DE.
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