I don't think that using modern genetic theory to try and describe elves is really that productive, as Tolkien was not a genetic expert and didn't try to introduce genetics into his work. In one of his letters he said that the reason that elves and men were able to breed was because they were in effect the same species but just had different fates and gifts, but that was as far as he went.
Also if modern genetics were involved in Middle Earth, they would be more complex than simple Mendelian inheritance which many people are using to try and describe the traits of characters.
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His sword was long his lance was keen
His shining helm afar was seen
The countless stars of heavens field
Were mirrored in his silver shield
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