VGEK.DE vs. EL4A.DE

Last updated Jun 16, 2026

VGEK.DE (Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF (USD) Accumulating) and EL4A.DE (Deka DAX UCITS ETF) are both exchange-traded funds - VGEK.DE is a Asia Pacific Equities fund tracking the FTSE Developed Asia Pacific ex Japan, while EL4A.DE is a Europe Equities fund tracking the DAX®. Both are passively managed. Over the past 5 years, VGEK.DE returned 13.25%/yr vs 9.04%/yr for EL4A.DE. A 0.65 correlation means they provide meaningful diversification when combined. Both charge a 0.15% expense ratio.

Performance

VGEK.DE vs. EL4A.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF (USD) Accumulating (VGEK.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, VGEK.DE achieves a 52.92% return, which is significantly higher than EL4A.DE's 1.14% return.

VGEK.DE

• 1D: 2.51%
• 1M: 9.47%
• YTD: 52.92%
• 6M: 59.20%
• 1Y: 82.62%
• 3Y*: 25.05%
• 5Y*: 13.25%
• 10Y*: —

EL4A.DE

• 1D: 1.07%
• 1M: 3.92%
• YTD: 1.14%
• 6M: 2.62%
• 1Y: 5.35%
• 3Y*: 14.41%
• 5Y*: 9.04%
• 10Y*: 9.42%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VGEK.DE Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF (USD) Accumulating	52.92%	25.01%	1.00%	6.45%	-7.38%	9.39%	8.24%	-4.36%
EL4A.DE Deka DAX UCITS ETF	1.14%	22.57%	18.09%	19.52%	-12.75%	15.19%	3.01%	7.23%

Correlation

The correlation between VGEK.DE and EL4A.DE is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (All Time) Calculated using the full available price history since Sep 24, 2019	0.65

The correlation between VGEK.DE and EL4A.DE shifts across timeframes, from 0.54 (1 year) to 0.65 (all time), reflecting how their relationship changes across market environments.

Return for Risk

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

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

VGEK.DE

VGEK.DE Risk / Return Rank: 94
VGEK.DE Sharpe Ratio Rank: 96
VGEK.DE Sortino Ratio Rank: 94
VGEK.DE Omega Ratio Rank: 94
VGEK.DE Calmar Ratio Rank: 94
VGEK.DE Martin Ratio Rank: 93

EL4A.DE

EL4A.DE Risk / Return Rank: 14
EL4A.DE Sharpe Ratio Rank: 14
EL4A.DE Sortino Ratio Rank: 13
EL4A.DE Omega Ratio Rank: 13
EL4A.DE Calmar Ratio Rank: 14
EL4A.DE Martin Ratio Rank: 15

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.

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

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF (USD) Accumulating (VGEK.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.

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.

	VGEK.DE	EL4A.DE	Difference
Sharpe ratio: Return per unit of total volatility	3.68	0.33	+3.35
Sortino ratio: Return per unit of downside risk	4.45	0.59	+3.86
Omega ratio: Gain probability vs. loss probability	1.64	1.07	+0.57
Calmar ratio: Return relative to maximum drawdown	6.38	0.43	+5.95
Martin ratio: Return relative to average drawdown	23.21	1.34	+21.87

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

The current VGEK.DE Sharpe Ratio is 3.68, which is higher than the EL4A.DE Sharpe Ratio of 0.33. The chart below compares the historical Sharpe Ratios of VGEK.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.

Drawdowns

VGEK.DE vs. EL4A.DE - Drawdown Comparison

The maximum VGEK.DE drawdown since its inception was -36.88%, smaller than the maximum EL4A.DE drawdown of -46.64%. Use the drawdown chart below to compare losses from any high point for VGEK.DE and EL4A.DE.

Drawdown Indicators

	VGEK.DE	EL4A.DE	Difference
Max Drawdown Largest peak-to-trough decline	-36.88%	-46.64%	+9.76%
Max Drawdown (1Y) Largest decline over 1 year	-12.88%	-12.36%	-0.52%
Max Drawdown (3Y) Largest decline over 3 years	-19.67%	-15.89%	-3.78%
Max Drawdown (5Y) Largest decline over 5 years	-19.67%	-26.76%	+7.09%
Max Drawdown (10Y) Largest decline over 10 years	—	-38.68%	—
Current Drawdown Current decline from peak	-1.59%	-2.44%	+0.85%
Average Drawdown Average peak-to-trough decline	-6.40%	-8.88%	+2.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.55%	3.97%	-0.42%

Volatility

VGEK.DE vs. EL4A.DE - Volatility Comparison

Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF (USD) Accumulating (VGEK.DE) has a higher volatility of 10.22% compared to Deka DAX UCITS ETF (EL4A.DE) at 4.42%. This indicates that VGEK.DE's price experiences larger fluctuations and is considered to be riskier than EL4A.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VGEK.DE	EL4A.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.22%	4.42%	+5.80%
Volatility (6M) Calculated over the trailing 6-month period	19.99%	13.11%	+6.88%
Volatility (1Y) Calculated over the trailing 1-year period	22.36%	16.23%	+6.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.93%	17.22%	-0.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.06%	18.33%	+1.73%

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

Both VGEK.DE and EL4A.DE have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

VGEK.DE vs. EL4A.DE - Dividend Comparison

Neither VGEK.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%
VGEK.DE Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF (USD) Accumulating	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 VGEK.DE and EL4A.DE in my portfolio?

VGEK.DE and EL4A.DE have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VGEK.DE or EL4A.DE?

Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

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

VGEK.DE and EL4A.DE have the same expense ratio: 0.15% per year.

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

VGEK.DE is categorized as Asia Pacific Equities, while EL4A.DE is Europe Equities. VGEK.DE tracks FTSE Developed Asia Pacific ex Japan, while EL4A.DE tracks DAX®. They also come from different issuers: Vanguard and Deka.