ELFC.DE vs. EL4A.DE

Last updated Jun 5, 2026

ELFC.DE (Deka Euro iSTOXX ex Fin Dividend Plus UCITS ETF) and EL4A.DE (Deka DAX UCITS ETF) are both Europe Equities funds from Deka - ELFC.DE tracks the EURO iSTOXX® ex Financials High Dividend 50 while EL4A.DE tracks the DAX®. Both are passively managed. Over the past 10 years, ELFC.DE returned 8.86%/yr vs 8.89%/yr for EL4A.DE. A 0.75 correlation means they provide meaningful diversification when combined. ELFC.DE charges 0.30%/yr vs 0.15%/yr for EL4A.DE.

Performance

ELFC.DE vs. EL4A.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Deka Euro iSTOXX ex Fin Dividend Plus UCITS ETF (ELFC.DE) and Deka DAX UCITS ETF (EL4A.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ELFC.DE achieves a 12.62% return, which is significantly higher than EL4A.DE's 1.28% return. Both investments have delivered pretty close results over the past 10 years, with ELFC.DE having a 8.86% annualized return and EL4A.DE not far ahead at 8.89%.

ELFC.DE

• 1D: -0.33%
• 1M: 0.92%
• YTD: 12.62%
• 6M: 12.29%
• 1Y: 20.13%
• 3Y*: 12.09%
• 5Y*: 10.14%
• 10Y*: 8.86%

EL4A.DE

• 1D: 0.51%
• 1M: 1.96%
• YTD: 1.28%
• 6M: 3.93%
• 1Y: 2.23%
• 3Y*: 15.42%
• 5Y*: 9.09%
• 10Y*: 8.89%

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

ELFC.DE vs. EL4A.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ELFC.DE Deka Euro iSTOXX ex Fin Dividend Plus UCITS ETF	12.62%	17.73%	-0.16%	15.69%	1.54%	21.96%	-7.15%	19.94%	-4.03%	6.11%
EL4A.DE Deka DAX UCITS ETF	1.28%	22.57%	18.09%	19.52%	-12.77%	15.21%	3.01%	24.61%	-18.58%	12.49%

Correlation

The correlation between ELFC.DE and EL4A.DE is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Sep 30, 2015	0.75

Over the past year, the correlation between ELFC.DE and EL4A.DE has dropped to 0.47 - well below their long-term average of 0.75, suggesting their price drivers have been diverging.

Return for Risk

ELFC.DE vs. EL4A.DE — Risk / Return Rank

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

ELFC.DE

ELFC.DE Risk / Return Rank: 55
ELFC.DE Sharpe Ratio Rank: 54
ELFC.DE Sortino Ratio Rank: 54
ELFC.DE Omega Ratio Rank: 54
ELFC.DE Calmar Ratio Rank: 62
ELFC.DE Martin Ratio Rank: 51

EL4A.DE

EL4A.DE Risk / Return Rank: 11
EL4A.DE Sharpe Ratio Rank: 11
EL4A.DE Sortino Ratio Rank: 11
EL4A.DE Omega Ratio Rank: 11
EL4A.DE Calmar Ratio Rank: 11
EL4A.DE Martin Ratio Rank: 12

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.

ELFC.DE vs. EL4A.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Deka Euro iSTOXX ex Fin Dividend Plus UCITS ETF (ELFC.DE) and Deka DAX UCITS ETF (EL4A.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.

	ELFC.DE	EL4A.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.81	0.14	+1.67
Sortino ratio: Return per unit of downside risk	2.55	0.32	+2.23
Omega ratio: Gain probability vs. loss probability	1.33	1.04	+0.29
Calmar ratio: Return relative to maximum drawdown	3.00	0.18	+2.82
Martin ratio: Return relative to average drawdown	8.42	0.56	+7.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ELFC.DE vs. EL4A.DE - Sharpe Ratio Comparison

The current ELFC.DE Sharpe Ratio is 1.81, which is higher than the EL4A.DE Sharpe Ratio of 0.14. The chart below compares the historical Sharpe Ratios of ELFC.DE and EL4A.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.

Sharpe Ratios by Period

	ELFC.DE	EL4A.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.81	0.14	+1.67
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	0.52	+0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.48	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.37	+0.18

Drawdowns

ELFC.DE vs. EL4A.DE - Drawdown Comparison

The maximum ELFC.DE drawdown since its inception was -37.68%, smaller than the maximum EL4A.DE drawdown of -46.64%. Use the drawdown chart below to compare losses from any high point for ELFC.DE and EL4A.DE.

Drawdown Indicators

	ELFC.DE	EL4A.DE	Difference
Max Drawdown Largest peak-to-trough decline	-37.68%	-46.64%	+8.96%
Max Drawdown (1Y) Largest decline over 1 year	-6.71%	-12.34%	+5.63%
Max Drawdown (3Y) Largest decline over 3 years	-15.02%	-15.89%	+0.87%
Max Drawdown (5Y) Largest decline over 5 years	-16.85%	-26.76%	+9.91%
Max Drawdown (10Y) Largest decline over 10 years	-37.68%	-38.68%	+1.00%
Current Drawdown Current decline from peak	-1.60%	-2.29%	+0.69%
Average Drawdown Average peak-to-trough decline	-4.70%	-8.91%	+4.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.39%	3.98%	-1.59%

Volatility

ELFC.DE vs. EL4A.DE - Volatility Comparison

The current volatility for Deka Euro iSTOXX ex Fin Dividend Plus UCITS ETF (ELFC.DE) is 2.62%, while Deka DAX UCITS ETF (EL4A.DE) has a volatility of 5.14%. This indicates that ELFC.DE experiences smaller price fluctuations and is considered to be less risky than EL4A.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ELFC.DE	EL4A.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.62%	5.14%	-2.52%
Volatility (6M) Calculated over the trailing 6-month period	8.07%	12.97%	-4.90%
Volatility (1Y) Calculated over the trailing 1-year period	11.12%	16.09%	-4.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.76%	17.18%	-3.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.40%	18.36%	-1.96%

ELFC.DE vs. EL4A.DE - Expense Ratio Comparison

ELFC.DE has a 0.30% expense ratio, which is higher than EL4A.DE's 0.15% expense ratio.

Dividends

ELFC.DE vs. EL4A.DE - Dividend Comparison

ELFC.DE's dividend yield for the trailing twelve months is around 4.08%, while EL4A.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EL4A.DE Deka DAX UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.65%	0.56%	0.65%	0.60%
ELFC.DE Deka Euro iSTOXX ex Fin Dividend Plus UCITS ETF	4.08%	4.45%	4.66%	4.66%	4.91%	3.85%	2.83%	3.64%	4.20%	3.53%	3.57%	0.00%

Frequently Asked Questions

Can I hold both ELFC.DE and EL4A.DE in my portfolio?

ELFC.DE and EL4A.DE have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ELFC.DE or EL4A.DE?

On fees, EL4A.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, ELFC.DE or EL4A.DE?

EL4A.DE is cheaper with a 0.15% expense ratio, compared with 0.30% for ELFC.DE.

What is the main difference between ELFC.DE and EL4A.DE?

ELFC.DE tracks EURO iSTOXX® ex Financials High Dividend 50, while EL4A.DE tracks DAX®. Their fees differ too: 0.30% for ELFC.DE and 0.15% for EL4A.DE.