SC0D.DE vs. EL4A.DE

Last updated Jun 5, 2026

SC0D.DE (Invesco EURO STOXX 50 UCITS ETF) and EL4A.DE (Deka DAX UCITS ETF) are both Europe Equities funds - SC0D.DE tracks the EURO STOXX® 50 while EL4A.DE tracks the DAX®. Both are passively managed. Over the past 10 years, SC0D.DE returned 10.37%/yr vs 8.89%/yr for EL4A.DE. Their correlation of 0.90 suggests significant overlap in exposure. SC0D.DE charges 0.05%/yr vs 0.15%/yr for EL4A.DE.

Performance

SC0D.DE vs. EL4A.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Invesco EURO STOXX 50 UCITS ETF (SC0D.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, SC0D.DE achieves a 7.29% return, which is significantly higher than EL4A.DE's 1.28% return. Over the past 10 years, SC0D.DE has outperformed EL4A.DE with an annualized return of 10.37%, while EL4A.DE has yielded a comparatively lower 8.89% annualized return.

SC0D.DE

• 1D: 0.74%
• 1M: 4.75%
• YTD: 7.29%
• 6M: 8.67%
• 1Y: 15.66%
• 3Y*: 15.50%
• 5Y*: 11.35%
• 10Y*: 10.37%

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)

SC0D.DE vs. EL4A.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SC0D.DE Invesco EURO STOXX 50 UCITS ETF	7.29%	22.01%	10.91%	22.46%	-9.02%	23.19%	-3.03%	30.01%	-12.05%	10.07%
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 SC0D.DE and EL4A.DE is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Apr 21, 2009	0.90

The correlation between SC0D.DE and EL4A.DE has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.

Return for Risk

SC0D.DE vs. EL4A.DE — Risk / Return Rank

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

SC0D.DE

SC0D.DE Risk / Return Rank: 29
SC0D.DE Sharpe Ratio Rank: 28
SC0D.DE Sortino Ratio Rank: 29
SC0D.DE Omega Ratio Rank: 28
SC0D.DE Calmar Ratio Rank: 29
SC0D.DE Martin Ratio Rank: 33

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.

SC0D.DE vs. EL4A.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco EURO STOXX 50 UCITS ETF (SC0D.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.

	SC0D.DE	EL4A.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.98	0.14	+0.84
Sortino ratio: Return per unit of downside risk	1.54	0.32	+1.22
Omega ratio: Gain probability vs. loss probability	1.18	1.04	+0.15
Calmar ratio: Return relative to maximum drawdown	1.43	0.18	+1.25
Martin ratio: Return relative to average drawdown	4.87	0.56	+4.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SC0D.DE vs. EL4A.DE - Sharpe Ratio Comparison

The current SC0D.DE Sharpe Ratio is 0.98, which is higher than the EL4A.DE Sharpe Ratio of 0.14. The chart below compares the historical Sharpe Ratios of SC0D.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

	SC0D.DE	EL4A.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.98	0.14	+0.84
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.52	+0.12
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	0.46	0.37	+0.09

Drawdowns

SC0D.DE vs. EL4A.DE - Drawdown Comparison

The maximum SC0D.DE drawdown since its inception was -38.50%, smaller than the maximum EL4A.DE drawdown of -46.64%. Use the drawdown chart below to compare losses from any high point for SC0D.DE and EL4A.DE.

Drawdown Indicators

	SC0D.DE	EL4A.DE	Difference
Max Drawdown Largest peak-to-trough decline	-38.50%	-46.64%	+8.14%
Max Drawdown (1Y) Largest decline over 1 year	-10.93%	-12.34%	+1.41%
Max Drawdown (3Y) Largest decline over 3 years	-16.54%	-15.89%	-0.65%
Max Drawdown (5Y) Largest decline over 5 years	-23.38%	-26.76%	+3.38%
Max Drawdown (10Y) Largest decline over 10 years	-38.50%	-38.68%	+0.18%
Current Drawdown Current decline from peak	-0.53%	-2.29%	+1.76%
Average Drawdown Average peak-to-trough decline	-7.22%	-8.91%	+1.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.21%	3.98%	-0.77%

Volatility

SC0D.DE vs. EL4A.DE - Volatility Comparison

Invesco EURO STOXX 50 UCITS ETF (SC0D.DE) and Deka DAX UCITS ETF (EL4A.DE) have volatilities of 4.94% and 5.14%, 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

	SC0D.DE	EL4A.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.94%	5.14%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	12.94%	12.97%	-0.03%
Volatility (1Y) Calculated over the trailing 1-year period	15.95%	16.09%	-0.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.53%	17.18%	+0.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.27%	18.36%	-0.09%

SC0D.DE vs. EL4A.DE - Expense Ratio Comparison

SC0D.DE has a 0.05% expense ratio, which is lower than EL4A.DE's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SC0D.DE vs. EL4A.DE - Dividend Comparison

Neither SC0D.DE nor EL4A.DE has 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%
SC0D.DE Invesco EURO STOXX 50 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

Can I hold both SC0D.DE and EL4A.DE in my portfolio?

With a correlation of 0.91, SC0D.DE and EL4A.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, SC0D.DE or EL4A.DE?

On fees, SC0D.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SC0D.DE or EL4A.DE?

SC0D.DE is cheaper with a 0.05% expense ratio, compared with 0.15% for EL4A.DE.

What is the main difference between SC0D.DE and EL4A.DE?

SC0D.DE tracks EURO STOXX® 50, while EL4A.DE tracks DAX®. They also come from different issuers: Invesco and Deka. Their fees differ too: 0.05% for SC0D.DE and 0.15% for EL4A.DE.