ELFA.DE vs. XB4A.DE

Last updated Jul 16, 2026

ELFA.DE (Deka EURO STOXX 50 (thesaurierend) UCITS ETF) and XB4A.DE (Xtrackers ATX UCITS ETF (Acc)) are both Europe Equities funds - ELFA.DE tracks the EURO STOXX® 50 while XB4A.DE tracks the ATX Index. Both are passively managed. Over the past 10 years, ELFA.DE returned 11.02%/yr vs 14.71%/yr for XB4A.DE. A 0.69 correlation means they provide meaningful diversification when combined. ELFA.DE charges 0.15%/yr vs 0.25%/yr for XB4A.DE.

Performance

ELFA.DE vs. XB4A.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Deka EURO STOXX 50 (thesaurierend) UCITS ETF (ELFA.DE) and Xtrackers ATX UCITS ETF (Acc) (XB4A.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ELFA.DE achieves a 8.04% return, which is significantly lower than XB4A.DE's 24.81% return. Over the past 10 years, ELFA.DE has underperformed XB4A.DE with an annualized return of 11.02%, while XB4A.DE has yielded a comparatively higher 14.71% 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%

XB4A.DE

• 1D: -0.62%
• 1M: 1.14%
• 6M: 22.10%
• YTD: 24.81%
• 1Y: 48.60%
• 3Y*: 31.52%
• 5Y*: 18.18%
• 10Y*: 14.71%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ELFA.DE vs. XB4A.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%
XB4A.DE Xtrackers ATX UCITS ETF (Acc)	24.81%	51.29%	11.01%	14.27%	-16.45%	42.39%	-10.86%	19.79%	-17.99%	32.88%

Correlation

The correlation between ELFA.DE and XB4A.DE is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since May 4, 2015	0.69

The correlation between ELFA.DE and XB4A.DE has been stable across timeframes, ranging from 0.67 to 0.72 - a consistent structural relationship.

Return for Risk

ELFA.DE vs. XB4A.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ELFA.DE

ELFA.DE Risk / Return Rank: 38
ELFA.DE Sharpe Ratio Rank: 36
ELFA.DE Sortino Ratio Rank: 40
ELFA.DE Omega Ratio Rank: 36
ELFA.DE Calmar Ratio Rank: 36
ELFA.DE Martin Ratio Rank: 40

XB4A.DE

XB4A.DE Risk / Return Rank: 91
XB4A.DE Sharpe Ratio Rank: 93
XB4A.DE Sortino Ratio Rank: 93
XB4A.DE Omega Ratio Rank: 90
XB4A.DE Calmar Ratio Rank: 90
XB4A.DE Martin Ratio Rank: 88

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ELFA.DE vs. XB4A.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 Xtrackers ATX UCITS ETF (Acc) (XB4A.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	XB4A.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.11	2.75	-1.64
Sortino ratio: Return per unit of downside risk	1.75	3.87	-2.11
Omega ratio: Gain probability vs. loss probability	1.21	1.46	-0.26
Calmar ratio: Return relative to maximum drawdown	1.54	4.44	-2.90
Martin ratio: Return relative to average drawdown	5.14	15.07	-9.93

ELFA.DE vs. XB4A.DE - Sharpe Ratio Comparison

The current ELFA.DE Sharpe Ratio is 1.11, which is lower than the XB4A.DE Sharpe Ratio of 2.75. The chart below compares the historical Sharpe Ratios of ELFA.DE and XB4A.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ELFA.DE vs. XB4A.DE - Drawdown Comparison

The maximum ELFA.DE drawdown since its inception was -38.14%, smaller than the maximum XB4A.DE drawdown of -53.54%. Use the drawdown chart below to compare losses from any high point for ELFA.DE and XB4A.DE.

Drawdown Indicators

	ELFA.DE	XB4A.DE	Difference
Max Drawdown Largest peak-to-trough decline	-38.14%	-53.54%	+15.40%
Max Drawdown (1Y) Largest decline over 1 year	-12.29%	-10.88%	-1.41%
Max Drawdown (3Y) Largest decline over 3 years	-16.35%	-16.26%	-0.09%
Max Drawdown (5Y) Largest decline over 5 years	-23.33%	-32.50%	+9.17%
Max Drawdown (10Y) Largest decline over 10 years	-38.14%	-53.54%	+15.40%
Current Drawdown Current decline from peak	-1.69%	-1.85%	+0.16%
Average Drawdown Average peak-to-trough decline	-6.53%	-9.88%	+3.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.69%	3.22%	+0.47%

Volatility

ELFA.DE vs. XB4A.DE - Volatility Comparison

The current volatility for Deka EURO STOXX 50 (thesaurierend) UCITS ETF (ELFA.DE) is 3.99%, while Xtrackers ATX UCITS ETF (Acc) (XB4A.DE) has a volatility of 5.22%. This indicates that ELFA.DE experiences smaller price fluctuations and is considered to be less risky than XB4A.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ELFA.DE	XB4A.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.99%	5.22%	-1.23%
Volatility (6M) Calculated over the trailing 6-month period	14.35%	14.88%	-0.53%
Volatility (1Y) Calculated over the trailing 1-year period	17.03%	17.61%	-0.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.89%	19.15%	-1.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.05%	20.15%	-2.10%

ELFA.DE vs. XB4A.DE - Expense Ratio Comparison

ELFA.DE has a 0.15% expense ratio, which is lower than XB4A.DE's 0.25% expense ratio. Despite the difference, 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. XB4A.DE - Dividend Comparison

ELFA.DE's dividend yield for the trailing twelve months is around 2.35%, while XB4A.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%
XB4A.DE Xtrackers ATX UCITS ETF (Acc)	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

Can I hold both ELFA.DE and XB4A.DE in my portfolio?

ELFA.DE and XB4A.DE have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ELFA.DE or XB4A.DE?

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.

Which ETF is cheaper, ELFA.DE or XB4A.DE?

ELFA.DE is cheaper with a 0.15% expense ratio, compared with 0.25% for XB4A.DE.

What is the main difference between ELFA.DE and XB4A.DE?

ELFA.DE tracks EURO STOXX® 50, while XB4A.DE tracks ATX Index. They also come from different issuers: Deka and Xtrackers. Their fees differ too: 0.15% for ELFA.DE and 0.25% for XB4A.DE.