FTGE.DE vs. EL4X.DE
FTGE.DE (First Trust Eurozone AlphaDEX UCITS ETF Acc) and EL4X.DE (Deka DAXplus Maximum Dividend UCITS ETF) are both Europe Equities funds - FTGE.DE tracks the Nasdaq AlphaDEX® Eurozone while EL4X.DE tracks the DAXplus® Maximum Dividend. Both are passively managed. Over the past 5 years, FTGE.DE returned 11.59%/yr vs 2.45%/yr for EL4X.DE. Their correlation of 0.84 suggests significant overlap in exposure. FTGE.DE charges 0.65%/yr vs 0.30%/yr for EL4X.DE.
Performance
FTGE.DE vs. EL4X.DE - Performance Comparison
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Returns By Period
In the year-to-date period, FTGE.DE achieves a 13.73% return, which is significantly higher than EL4X.DE's 6.17% return.
FTGE.DE
- 1D
- 0.51%
- 1M
- 0.87%
- YTD
- 13.73%
- 6M
- 16.65%
- 1Y
- 29.62%
- 3Y*
- 22.56%
- 5Y*
- 11.59%
- 10Y*
- —
EL4X.DE
- 1D
- 0.59%
- 1M
- -2.49%
- YTD
- 6.17%
- 6M
- 9.60%
- 1Y
- 6.36%
- 3Y*
- 9.31%
- 5Y*
- 2.45%
- 10Y*
- 2.29%
FTGE.DE vs. EL4X.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FTGE.DE First Trust Eurozone AlphaDEX UCITS ETF Acc | 13.73% | 39.79% | 9.52% | 12.43% | -14.37% | 20.47% | 24.16% |
EL4X.DE Deka DAXplus Maximum Dividend UCITS ETF | 6.17% | 14.14% | -1.45% | 26.38% | -20.06% | 9.02% | 29.33% |
Correlation
The correlation between FTGE.DE and EL4X.DE is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since May 19, 2020 | 0.84 |
The correlation between FTGE.DE and EL4X.DE has been stable across timeframes, ranging from 0.81 to 0.84 - a consistent structural relationship.
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Return for Risk
FTGE.DE vs. EL4X.DE — Risk / Return Rank
FTGE.DE
EL4X.DE
FTGE.DE vs. EL4X.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Eurozone AlphaDEX UCITS ETF Acc (FTGE.DE) and Deka DAXplus Maximum Dividend UCITS ETF (EL4X.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.
| FTGE.DE | EL4X.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.72 | ||
| Sortino ratioReturn per unit of downside risk | +2.23 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.09 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 3.27 | 0.68 | +2.59 |
| Martin ratioReturn relative to average drawdown | 12.30 | 1.48 | +10.82 |
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
| FTGE.DE | EL4X.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.16 | 0.44 | +1.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.65 | 0.14 | +0.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.13 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.88 | 0.29 | +0.59 |
Drawdowns
FTGE.DE vs. EL4X.DE - Drawdown Comparison
The maximum FTGE.DE drawdown since its inception was -26.63%, smaller than the maximum EL4X.DE drawdown of -52.91%. Use the drawdown chart below to compare losses from any high point for FTGE.DE and EL4X.DE.
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Drawdown Indicators
| FTGE.DE | EL4X.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.63% | -52.91% | +26.28% |
Max Drawdown (1Y)Largest decline over 1 year | -9.38% | -9.87% | +0.49% |
Max Drawdown (3Y)Largest decline over 3 years | -16.12% | -16.60% | +0.48% |
Max Drawdown (5Y)Largest decline over 5 years | -26.63% | -34.51% | +7.88% |
Max Drawdown (10Y)Largest decline over 10 years | — | -52.91% | — |
Current DrawdownCurrent decline from peak | 0.00% | -2.74% | +2.74% |
Average DrawdownAverage peak-to-trough decline | -5.40% | -12.17% | +6.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.50% | 4.56% | -2.06% |
Volatility
FTGE.DE vs. EL4X.DE - Volatility Comparison
The current volatility for First Trust Eurozone AlphaDEX UCITS ETF Acc (FTGE.DE) is 3.83%, while Deka DAXplus Maximum Dividend UCITS ETF (EL4X.DE) has a volatility of 4.54%. This indicates that FTGE.DE experiences smaller price fluctuations and is considered to be less risky than EL4X.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FTGE.DE | EL4X.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.83% | 4.54% | -0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 11.63% | 11.68% | -0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.23% | 15.25% | -1.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.58% | 16.85% | +0.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.41% | 18.23% | +0.18% |
FTGE.DE vs. EL4X.DE - Expense Ratio Comparison
FTGE.DE has a 0.65% expense ratio, which is higher than EL4X.DE's 0.30% expense ratio.
Dividends
FTGE.DE vs. EL4X.DE - Dividend Comparison
FTGE.DE has not paid dividends to shareholders, while EL4X.DE's dividend yield for the trailing twelve months is around 4.73%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EL4X.DE Deka DAXplus Maximum Dividend UCITS ETF | 4.73% | 5.11% | 7.17% | 5.99% | 8.64% | 3.83% | 2.89% | 6.66% | 8.48% | 7.17% | 7.37% | 5.62% |
FTGE.DE First Trust Eurozone AlphaDEX 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% | 0.00% |
Frequently Asked Questions
FTGE.DE and EL4X.DE have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EL4X.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EL4X.DE is cheaper with a 0.30% expense ratio, compared with 0.65% for FTGE.DE.
FTGE.DE tracks Nasdaq AlphaDEX® Eurozone, while EL4X.DE tracks DAXplus® Maximum Dividend. They also come from different issuers: First Trust and Deka. Their fees differ too: 0.65% for FTGE.DE and 0.30% for EL4X.DE.
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