FUSR.DE vs. EL4Z.DE

Last updated Jun 5, 2026

FUSR.DE (Fidelity Sustainable Research Enhanced US Equity UCITS ETF Acc) and EL4Z.DE (Deka MSCI USA UCITS ETF) are both Large Cap Blend Equities funds - FUSR.DE tracks the Fidelity Sustainable Research Enhanced US Equity while EL4Z.DE tracks the MSCI USA. Both are passively managed. Over the past 5 years, FUSR.DE returned 14.75%/yr vs 13.83%/yr for EL4Z.DE. With a 0.97 correlation, they move nearly in lockstep. Both charge a 0.30% expense ratio.

Performance

FUSR.DE vs. EL4Z.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Fidelity Sustainable Research Enhanced US Equity UCITS ETF Acc (FUSR.DE) and Deka MSCI USA UCITS ETF (EL4Z.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FUSR.DE having a 10.99% return and EL4Z.DE slightly higher at 11.05%.

FUSR.DE

• 1D: 0.07%
• 1M: 4.38%
• YTD: 10.99%
• 6M: 10.70%
• 1Y: 26.84%
• 3Y*: 19.47%
• 5Y*: 14.75%
• 10Y*: —

EL4Z.DE

• 1D: -0.11%
• 1M: 5.30%
• YTD: 11.05%
• 6M: 11.03%
• 1Y: 24.63%
• 3Y*: 18.53%
• 5Y*: 13.83%
• 10Y*: 14.39%

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

FUSR.DE vs. EL4Z.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FUSR.DE Fidelity Sustainable Research Enhanced US Equity UCITS ETF Acc	10.99%	5.18%	33.40%	24.94%	-16.94%	38.09%	12.94%
EL4Z.DE Deka MSCI USA UCITS ETF	11.05%	3.99%	32.17%	22.99%	-16.37%	38.20%	12.31%

Correlation

The correlation between FUSR.DE and EL4Z.DE is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020	0.97

The correlation between FUSR.DE and EL4Z.DE has been stable across timeframes, ranging from 0.92 to 0.97 - a consistent structural relationship.

Return for Risk

FUSR.DE vs. EL4Z.DE — Risk / Return Rank

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

FUSR.DE

FUSR.DE Risk / Return Rank: 65
FUSR.DE Sharpe Ratio Rank: 64
FUSR.DE Sortino Ratio Rank: 62
FUSR.DE Omega Ratio Rank: 63
FUSR.DE Calmar Ratio Rank: 69
FUSR.DE Martin Ratio Rank: 67

EL4Z.DE

EL4Z.DE Risk / Return Rank: 65
EL4Z.DE Sharpe Ratio Rank: 64
EL4Z.DE Sortino Ratio Rank: 62
EL4Z.DE Omega Ratio Rank: 66
EL4Z.DE Calmar Ratio Rank: 68
EL4Z.DE Martin Ratio Rank: 64

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.

FUSR.DE vs. EL4Z.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Sustainable Research Enhanced US Equity UCITS ETF Acc (FUSR.DE) and Deka MSCI USA UCITS ETF (EL4Z.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.

	FUSR.DE	EL4Z.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.11	2.09	+0.02
Sortino ratio: Return per unit of downside risk	2.87	2.86	+0.01
Omega ratio: Gain probability vs. loss probability	1.38	1.39	-0.01
Calmar ratio: Return relative to maximum drawdown	3.40	3.31	+0.10
Martin ratio: Return relative to average drawdown	12.17	11.44	+0.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FUSR.DE vs. EL4Z.DE - Sharpe Ratio Comparison

The current FUSR.DE Sharpe Ratio is 2.11, which is comparable to the EL4Z.DE Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of FUSR.DE and EL4Z.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

	FUSR.DE	EL4Z.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.11	2.09	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.92	0.88	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.88	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.03	0.99	+0.04

Drawdowns

FUSR.DE vs. EL4Z.DE - Drawdown Comparison

The maximum FUSR.DE drawdown since its inception was -24.29%, smaller than the maximum EL4Z.DE drawdown of -34.19%. Use the drawdown chart below to compare losses from any high point for FUSR.DE and EL4Z.DE.

Drawdown Indicators

	FUSR.DE	EL4Z.DE	Difference
Max Drawdown Largest peak-to-trough decline	-24.29%	-34.19%	+9.90%
Max Drawdown (1Y) Largest decline over 1 year	-7.85%	-7.42%	-0.43%
Max Drawdown (3Y) Largest decline over 3 years	-24.29%	-24.03%	-0.26%
Max Drawdown (5Y) Largest decline over 5 years	-24.29%	-24.03%	-0.26%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.19%	—
Current Drawdown Current decline from peak	-0.25%	-0.40%	+0.15%
Average Drawdown Average peak-to-trough decline	-4.40%	-4.23%	-0.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.20%	2.15%	+0.05%

Volatility

FUSR.DE vs. EL4Z.DE - Volatility Comparison

Fidelity Sustainable Research Enhanced US Equity UCITS ETF Acc (FUSR.DE) and Deka MSCI USA UCITS ETF (EL4Z.DE) have volatilities of 2.62% and 2.74%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FUSR.DE	EL4Z.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.62%	2.74%	-0.12%
Volatility (6M) Calculated over the trailing 6-month period	8.39%	7.70%	+0.69%
Volatility (1Y) Calculated over the trailing 1-year period	12.69%	11.74%	+0.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.84%	15.48%	+0.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.99%	16.22%	-0.23%

FUSR.DE vs. EL4Z.DE - Expense Ratio Comparison

Both FUSR.DE and EL4Z.DE have an expense ratio of 0.30%.

Dividends

FUSR.DE vs. EL4Z.DE - Dividend Comparison

FUSR.DE has not paid dividends to shareholders, while EL4Z.DE's dividend yield for the trailing twelve months is around 0.49%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EL4Z.DE Deka MSCI USA UCITS ETF	0.49%	0.57%	0.74%	1.23%	1.09%	0.52%	0.90%	0.95%	1.16%	1.03%	1.07%	1.47%
FUSR.DE Fidelity Sustainable Research Enhanced US Equity 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

Can I hold both FUSR.DE and EL4Z.DE in my portfolio?

With a correlation of 0.92, FUSR.DE and EL4Z.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, FUSR.DE or EL4Z.DE?

Both ETFs have the same 0.30% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FUSR.DE or EL4Z.DE?

FUSR.DE and EL4Z.DE have the same expense ratio: 0.30% per year.

What is the main difference between FUSR.DE and EL4Z.DE?

FUSR.DE tracks Fidelity Sustainable Research Enhanced US Equity, while EL4Z.DE tracks MSCI USA. They also come from different issuers: Fidelity and Deka Investment GmbH.