XESD.DE vs. EL4A.DE
XESD.DE (Xtrackers Spanish Equity UCITS ETF) and EL4A.DE (Deka DAX UCITS ETF) are both Europe Equities funds - XESD.DE tracks the Solactive Spain 40 while EL4A.DE tracks the DAX®. Both are passively managed. Over the past 10 years, XESD.DE returned 14.01%/yr vs 9.89%/yr for EL4A.DE. A 0.77 correlation means they provide meaningful diversification when combined. XESD.DE charges 0.30%/yr vs 0.15%/yr for EL4A.DE.
Performance
XESD.DE vs. EL4A.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XESD.DE achieves a 14.69% return, which is significantly higher than EL4A.DE's 1.60% return. Over the past 10 years, XESD.DE has outperformed EL4A.DE with an annualized return of 14.01%, while EL4A.DE has yielded a comparatively lower 9.89% annualized return.
XESD.DE
- 1D
- 0.62%
- 1M
- 6.78%
- YTD
- 14.69%
- 6M
- 15.76%
- 1Y
- 47.75%
- 3Y*
- 32.29%
- 5Y*
- 20.35%
- 10Y*
- 14.01%
EL4A.DE
- 1D
- 1.13%
- 1M
- -0.70%
- YTD
- 1.60%
- 6M
- 2.36%
- 1Y
- 5.94%
- 3Y*
- 15.90%
- 5Y*
- 9.28%
- 10Y*
- 9.89%
XESD.DE vs. EL4A.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XESD.DE Xtrackers Spanish Equity UCITS ETF | 14.69% | 58.72% | 14.57% | 26.76% | -1.63% | 10.91% | -10.10% | 15.69% | -12.39% | 12.92% |
EL4A.DE Deka DAX UCITS ETF | 1.60% | 22.57% | 18.09% | 19.52% | -12.75% | 15.19% | 3.01% | 24.61% | -18.58% | 12.49% |
Correlation
The correlation between XESD.DE and EL4A.DE is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2013 | 0.77 |
The correlation between XESD.DE and EL4A.DE has been stable across timeframes, ranging from 0.73 to 0.77 - a consistent structural relationship.
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Return for Risk
XESD.DE vs. EL4A.DE — Risk / Return Rank
XESD.DE
EL4A.DE
XESD.DE vs. EL4A.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers Spanish Equity UCITS ETF (XESD.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.
| XESD.DE | EL4A.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.43 | ||
| Sortino ratioReturn per unit of downside risk | +3.09 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.08 | +0.42 |
| Calmar ratioReturn relative to maximum drawdown | 4.62 | 0.48 | +4.15 |
| Martin ratioReturn relative to average drawdown | 16.31 | 1.49 | +14.83 |
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Drawdowns
XESD.DE vs. EL4A.DE - Drawdown Comparison
The maximum XESD.DE drawdown since its inception was -38.76%, smaller than the maximum EL4A.DE drawdown of -46.64%. Use the drawdown chart below to compare losses from any high point for XESD.DE and EL4A.DE.
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Drawdown Indicators
| XESD.DE | EL4A.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.76% | -46.64% | +7.88% |
Max Drawdown (1Y)Largest decline over 1 year | -10.28% | -12.36% | +2.08% |
Max Drawdown (3Y)Largest decline over 3 years | -12.49% | -15.89% | +3.40% |
Max Drawdown (5Y)Largest decline over 5 years | -18.55% | -26.76% | +8.21% |
Max Drawdown (10Y)Largest decline over 10 years | -38.76% | -38.68% | -0.08% |
Current DrawdownCurrent decline from peak | -0.18% | -1.99% | +1.81% |
Average DrawdownAverage peak-to-trough decline | -8.46% | -8.87% | +0.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.92% | 3.99% | -1.07% |
Volatility
XESD.DE vs. EL4A.DE - Volatility Comparison
Xtrackers Spanish Equity UCITS ETF (XESD.DE) has a higher volatility of 4.05% compared to Deka DAX UCITS ETF (EL4A.DE) at 3.51%. This indicates that XESD.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.
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Volatility by Period
| XESD.DE | EL4A.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.05% | 3.51% | +0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 14.41% | 13.12% | +1.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.06% | 16.04% | +1.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.77% | 17.20% | -0.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.49% | 18.16% | +0.33% |
XESD.DE vs. EL4A.DE - Expense Ratio Comparison
XESD.DE has a 0.30% expense ratio, which is higher than EL4A.DE's 0.15% expense ratio.
Dividends
XESD.DE vs. EL4A.DE - Dividend Comparison
XESD.DE's dividend yield for the trailing twelve months is around 2.34%, while EL4A.DE has not 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% |
XESD.DE Xtrackers Spanish Equity UCITS ETF | 2.34% | 2.43% | 3.14% | 2.56% | 3.98% | 1.51% | 4.30% | 3.35% | 4.48% | 2.51% | 1.14% | 0.42% |
Frequently Asked Questions
XESD.DE and EL4A.DE have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EL4A.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EL4A.DE is cheaper with a 0.15% expense ratio, compared with 0.30% for XESD.DE.
XESD.DE tracks Solactive Spain 40, while EL4A.DE tracks DAX®. They also come from different issuers: Xtrackers and Deka. Their fees differ too: 0.30% for XESD.DE and 0.15% for EL4A.DE.
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