That's 'Malekith'. Who wins really depends on the tactics, because Malekith's a sneaky git if ever there was one. Fighting dirty might tip the scales in his favor, in a straight fight both the DC and Marvel version of Morgan (who I suspect is actually his half-sister) would probably kick his duo-toned ass.
Marvel's Morgan is also vulnerable to iron but obviously to a lesser extent thanks to her human blood. She's survived the destruction of her body, while Malekith died when he got his neck snapped. He's back, but he's had to escape from Hel (norse version) twice already
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Malekith's a potent sorcerer but his magic seems more subtle and primarily geared towards deception and escaping as quickly as possible. If there is enough ambient light he can't escape by any means other than flight. Iron effectively cancels all of his spells and a single bullet could be enough to kill him via poisoning if it gets lodged inside his body. If picking up a gun gave him 2nd degree burns just imagine...it really sucks to be a Dark Elf if you think about it.
