ELFW.DE vs. ELF1.DE

Last updated Jun 5, 2026

ELFW.DE (Deka MSCI World UCITS ETF Dist) and ELF1.DE (Deka MDAX UCITS ETF) are both exchange-traded funds - ELFW.DE is a Global Equities fund tracking the MSCI World, while ELF1.DE is a Europe Equities fund tracking the MDAX®. Both are passively managed. Over the past 5 years, ELFW.DE returned 12.52%/yr vs -1.03%/yr for ELF1.DE. A 0.71 correlation means they provide meaningful diversification when combined. ELFW.DE charges 0.31%/yr vs 0.30%/yr for ELF1.DE.

Performance

ELFW.DE vs. ELF1.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Deka MSCI World UCITS ETF Dist (ELFW.DE) and Deka MDAX UCITS ETF (ELF1.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ELFW.DE achieves a 10.68% return, which is significantly higher than ELF1.DE's 6.68% return.

ELFW.DE

• 1D: -0.02%
• 1M: 3.61%
• YTD: 10.68%
• 6M: 10.77%
• 1Y: 23.36%
• 3Y*: 17.24%
• 5Y*: 12.52%
• 10Y*: —

ELF1.DE

• 1D: 0.16%
• 1M: 2.99%
• YTD: 6.68%
• 6M: 9.93%
• 1Y: 4.70%
• 3Y*: 6.10%
• 5Y*: -1.03%
• 10Y*: 4.24%

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

ELFW.DE vs. ELF1.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
ELFW.DE Deka MSCI World UCITS ETF Dist	10.68%	7.57%	25.71%	19.97%	-14.02%	31.88%	5.44%	30.74%	-11.82%
ELF1.DE Deka MDAX UCITS ETF	6.68%	19.01%	-5.82%	7.32%	-28.88%	13.39%	8.33%	30.58%	-17.32%

Correlation

The correlation between ELFW.DE and ELF1.DE is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (All Time) Calculated using the full available price history since Sep 26, 2018	0.71

The correlation between ELFW.DE and ELF1.DE shifts across timeframes, from 0.59 (3 years) to 0.71 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ELFW.DE vs. ELF1.DE — Risk / Return Rank

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

ELFW.DE

ELFW.DE Risk / Return Rank: 68
ELFW.DE Sharpe Ratio Rank: 64
ELFW.DE Sortino Ratio Rank: 64
ELFW.DE Omega Ratio Rank: 66
ELFW.DE Calmar Ratio Rank: 71
ELFW.DE Martin Ratio Rank: 75

ELF1.DE

ELF1.DE Risk / Return Rank: 13
ELF1.DE Sharpe Ratio Rank: 13
ELF1.DE Sortino Ratio Rank: 13
ELF1.DE Omega Ratio Rank: 13
ELF1.DE Calmar Ratio Rank: 13
ELF1.DE Martin Ratio Rank: 14

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.

ELFW.DE vs. ELF1.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Deka MSCI World UCITS ETF Dist (ELFW.DE) and Deka MDAX UCITS ETF (ELF1.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.

	ELFW.DE	ELF1.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.09	0.27	+1.83
Sortino ratio: Return per unit of downside risk	2.93	0.52	+2.41
Omega ratio: Gain probability vs. loss probability	1.39	1.06	+0.33
Calmar ratio: Return relative to maximum drawdown	3.49	0.35	+3.15
Martin ratio: Return relative to average drawdown	14.07	0.94	+13.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ELFW.DE vs. ELF1.DE - Sharpe Ratio Comparison

The current ELFW.DE Sharpe Ratio is 2.09, which is higher than the ELF1.DE Sharpe Ratio of 0.27. The chart below compares the historical Sharpe Ratios of ELFW.DE and ELF1.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

	ELFW.DE	ELF1.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.09	0.27	+1.83
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.87	-0.05	+0.93
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.23	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	0.29	+0.48

Drawdowns

ELFW.DE vs. ELF1.DE - Drawdown Comparison

The maximum ELFW.DE drawdown since its inception was -33.59%, smaller than the maximum ELF1.DE drawdown of -40.27%. Use the drawdown chart below to compare losses from any high point for ELFW.DE and ELF1.DE.

Drawdown Indicators

	ELFW.DE	ELF1.DE	Difference
Max Drawdown Largest peak-to-trough decline	-33.59%	-40.27%	+6.68%
Max Drawdown (1Y) Largest decline over 1 year	-6.68%	-14.46%	+7.78%
Max Drawdown (3Y) Largest decline over 3 years	-21.81%	-18.45%	-3.36%
Max Drawdown (5Y) Largest decline over 5 years	-21.81%	-40.27%	+18.46%
Max Drawdown (10Y) Largest decline over 10 years	—	-40.27%	—
Current Drawdown Current decline from peak	-0.35%	-11.79%	+11.44%
Average Drawdown Average peak-to-trough decline	-4.73%	-12.30%	+7.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.66%	5.30%	-3.64%

Volatility

ELFW.DE vs. ELF1.DE - Volatility Comparison

The current volatility for Deka MSCI World UCITS ETF Dist (ELFW.DE) is 2.60%, while Deka MDAX UCITS ETF (ELF1.DE) has a volatility of 5.03%. This indicates that ELFW.DE experiences smaller price fluctuations and is considered to be less risky than ELF1.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ELFW.DE	ELF1.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.60%	5.03%	-2.43%
Volatility (6M) Calculated over the trailing 6-month period	7.74%	15.34%	-7.60%
Volatility (1Y) Calculated over the trailing 1-year period	11.14%	18.70%	-7.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.15%	19.31%	-5.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.07%	18.33%	-2.26%

ELFW.DE vs. ELF1.DE - Expense Ratio Comparison

ELFW.DE has a 0.31% expense ratio, which is higher than ELF1.DE's 0.30% expense ratio.

Dividends

ELFW.DE vs. ELF1.DE - Dividend Comparison

ELFW.DE's dividend yield for the trailing twelve months is around 0.89%, while ELF1.DE has not 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%
ELFW.DE Deka MSCI World UCITS ETF Dist	0.89%	1.01%	1.04%	1.37%	1.65%	0.96%	1.29%	1.53%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ELFW.DE and ELF1.DE in my portfolio?

ELFW.DE and ELF1.DE have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ELFW.DE or ELF1.DE?

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.

Which ETF is cheaper, ELFW.DE or ELF1.DE?

ELF1.DE is cheaper with a 0.30% expense ratio, compared with 0.31% for ELFW.DE.

What is the main difference between ELFW.DE and ELF1.DE?

ELFW.DE is categorized as Global Equities, while ELF1.DE is Europe Equities. ELFW.DE tracks MSCI World, while ELF1.DE tracks MDAX®. Their fees differ too: 0.31% for ELFW.DE and 0.30% for ELF1.DE.