ESNB.DE vs. EL4F.DE
ESNB.DE (Expat Serbia BELEX15 UCITS ETF) and EL4F.DE (Deka DAX (ausschüttend) UCITS ETF) are both Europe Equities funds - ESNB.DE tracks the BELEX15 Index while EL4F.DE tracks the DAX®. Both are passively managed. Over the past 5 years, ESNB.DE returned -1.81%/yr vs 9.18%/yr for EL4F.DE. At a correlation of -0.00, they often move in opposite directions. ESNB.DE charges 1.38%/yr vs 0.15%/yr for EL4F.DE.
Performance
ESNB.DE vs. EL4F.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ESNB.DE achieves a -6.99% return, which is significantly lower than EL4F.DE's 0.82% return.
ESNB.DE
- 1D
- 0.23%
- 1M
- -0.56%
- 6M
- -5.83%
- YTD
- -6.99%
- 1Y
- -5.51%
- 3Y*
- -1.61%
- 5Y*
- -1.81%
- 10Y*
- —
EL4F.DE
- 1D
- -0.36%
- 1M
- -0.49%
- 6M
- -2.26%
- YTD
- 0.82%
- 1Y
- 1.36%
- 3Y*
- 14.83%
- 5Y*
- 9.18%
- 10Y*
- 8.95%
ESNB.DE vs. EL4F.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ESNB.DE Expat Serbia BELEX15 UCITS ETF | -6.99% | 0.82% | 0.78% | 2.90% | -8.70% | 5.74% | -3.42% | 5.43% | -7.45% |
EL4F.DE Deka DAX (ausschüttend) UCITS ETF | 0.82% | 22.54% | 18.07% | 19.54% | -12.81% | 15.13% | 2.76% | 24.66% | -15.28% |
Correlation
The correlation between ESNB.DE and EL4F.DE is -0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2018 | -0.00 |
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Return for Risk
ESNB.DE vs. EL4F.DE — Risk / Return Rank
ESNB.DE
EL4F.DE
ESNB.DE vs. EL4F.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Expat Serbia BELEX15 UCITS ETF (ESNB.DE) and Deka DAX (ausschüttend) UCITS ETF (EL4F.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.
| ESNB.DE | EL4F.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.65 | ||
| Sortino ratioReturn per unit of downside risk | -0.99 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.03 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.53 | 0.11 | -0.64 |
| Martin ratioReturn relative to average drawdown | -1.12 | 0.34 | -1.46 |
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Drawdowns
ESNB.DE vs. EL4F.DE - Drawdown Comparison
The maximum ESNB.DE drawdown since its inception was -22.77%, smaller than the maximum EL4F.DE drawdown of -45.32%. Use the drawdown chart below to compare losses from any high point for ESNB.DE and EL4F.DE.
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Drawdown Indicators
| ESNB.DE | EL4F.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.77% | -45.32% | +22.55% |
Max Drawdown (1Y)Largest decline over 1 year | -10.40% | -12.36% | +1.96% |
Max Drawdown (3Y)Largest decline over 3 years | -12.60% | -15.79% | +3.19% |
Max Drawdown (5Y)Largest decline over 5 years | -15.85% | -26.70% | +10.85% |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.59% | — |
Current DrawdownCurrent decline from peak | -13.67% | -3.86% | -9.81% |
Average DrawdownAverage peak-to-trough decline | -8.44% | -8.55% | +0.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.91% | 3.94% | +0.97% |
Volatility
ESNB.DE vs. EL4F.DE - Volatility Comparison
The current volatility for Expat Serbia BELEX15 UCITS ETF (ESNB.DE) is 3.05%, while Deka DAX (ausschüttend) UCITS ETF (EL4F.DE) has a volatility of 4.69%. This indicates that ESNB.DE experiences smaller price fluctuations and is considered to be less risky than EL4F.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ESNB.DE | EL4F.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.05% | 4.69% | -1.64% |
Volatility (6M)Calculated over the trailing 6-month period | 6.22% | 13.61% | -7.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.72% | 16.26% | -6.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.52% | 17.17% | -6.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.11% | 18.00% | -5.89% |
ESNB.DE vs. EL4F.DE - Expense Ratio Comparison
ESNB.DE has a 1.38% expense ratio, which is higher than EL4F.DE's 0.15% expense ratio.
Dividends
ESNB.DE vs. EL4F.DE - Dividend Comparison
ESNB.DE has not paid dividends to shareholders, while EL4F.DE's dividend yield for the trailing twelve months is around 2.13%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EL4F.DE Deka DAX (ausschüttend) UCITS ETF | 2.13% | 1.82% | 2.10% | 2.63% | 2.72% | 1.86% | 2.19% | 2.42% | 2.94% | 2.60% | 2.66% | 2.70% |
ESNB.DE Expat Serbia BELEX15 UCITS ETF | 0.00% | 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
ESNB.DE and EL4F.DE have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EL4F.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EL4F.DE is cheaper with a 0.15% expense ratio, compared with 1.38% for ESNB.DE.
ESNB.DE tracks BELEX15 Index, while EL4F.DE tracks DAX®. They also come from different issuers: Expat and Deka. Their fees differ too: 1.38% for ESNB.DE and 0.15% for EL4F.DE.
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