EAH.DE vs. EL4T.DE

Last updated Jun 5, 2026

EAH.DE (Amundi Euro Government Green Bond UCITS ETF Acc) and EL4T.DE (Deka Deutsche Boerse EUROGOV Germany 3-5 UCITS ETF) are both European Government Bonds funds - EAH.DE tracks the Solactive Euro Government Green Bond while EL4T.DE tracks the Deutsche Börse EUROGOV® Germany 3-5. Both are passively managed. Over the past 3 years, EAH.DE returned 1.19%/yr vs 1.95%/yr for EL4T.DE. Their correlation of 0.84 suggests significant overlap in exposure. EAH.DE charges 0.20%/yr vs 0.15%/yr for EL4T.DE.

Performance

EAH.DE vs. EL4T.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Amundi Euro Government Green Bond UCITS ETF Acc (EAH.DE) and Deka Deutsche Boerse EUROGOV Germany 3-5 UCITS ETF (EL4T.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EAH.DE achieves a 0.01% return, which is significantly higher than EL4T.DE's -0.14% return.

EAH.DE

• 1D: 0.11%
• 1M: -0.12%
• YTD: 0.01%
• 6M: -0.10%
• 1Y: -1.07%
• 3Y*: 1.19%
• 5Y*: —
• 10Y*: —

EL4T.DE

• 1D: 0.05%
• 1M: -0.02%
• YTD: -0.14%
• 6M: -0.19%
• 1Y: 0.11%
• 3Y*: 1.95%
• 5Y*: -0.85%
• 10Y*: -0.56%

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

EAH.DE vs. EL4T.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
EAH.DE Amundi Euro Government Green Bond UCITS ETF Acc	0.01%	-2.11%	-0.57%	8.84%	-30.65%	-1.77%
EL4T.DE Deka Deutsche Boerse EUROGOV Germany 3-5 UCITS ETF	-0.14%	1.23%	1.66%	4.09%	-9.83%	-0.76%

Correlation

The correlation between EAH.DE and EL4T.DE is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (All Time) Calculated using the full available price history since Jul 16, 2021	0.84

The correlation between EAH.DE and EL4T.DE has been stable across timeframes, ranging from 0.82 to 0.84 - a consistent structural relationship.

Return for Risk

EAH.DE vs. EL4T.DE — Risk / Return Rank

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

EAH.DE

EAH.DE Risk / Return Rank: 6
EAH.DE Sharpe Ratio Rank: 7
EAH.DE Sortino Ratio Rank: 6
EAH.DE Omega Ratio Rank: 6
EAH.DE Calmar Ratio Rank: 6
EAH.DE Martin Ratio Rank: 6

EL4T.DE

EL4T.DE Risk / Return Rank: 8
EL4T.DE Sharpe Ratio Rank: 8
EL4T.DE Sortino Ratio Rank: 7
EL4T.DE Omega Ratio Rank: 7
EL4T.DE Calmar Ratio Rank: 9
EL4T.DE Martin Ratio Rank: 8

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.

EAH.DE vs. EL4T.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi Euro Government Green Bond UCITS ETF Acc (EAH.DE) and Deka Deutsche Boerse EUROGOV Germany 3-5 UCITS ETF (EL4T.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.

	EAH.DE	EL4T.DE	Difference
Sharpe ratio: Return per unit of total volatility	-0.24	-0.06	-0.18
Sortino ratio: Return per unit of downside risk	-0.29	-0.07	-0.22
Omega ratio: Gain probability vs. loss probability	0.97	0.99	-0.03
Calmar ratio: Return relative to maximum drawdown	-0.33	-0.07	-0.26
Martin ratio: Return relative to average drawdown	-0.71	-0.17	-0.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EAH.DE vs. EL4T.DE - Sharpe Ratio Comparison

The current EAH.DE Sharpe Ratio is -0.24, which is lower than the EL4T.DE Sharpe Ratio of -0.06. The chart below compares the historical Sharpe Ratios of EAH.DE and EL4T.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

	EAH.DE	EL4T.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.24	-0.06	-0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.24	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.21	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.59	0.25	-0.84

Drawdowns

EAH.DE vs. EL4T.DE - Drawdown Comparison

The maximum EAH.DE drawdown since its inception was -36.30%, which is greater than EL4T.DE's maximum drawdown of -13.89%. Use the drawdown chart below to compare losses from any high point for EAH.DE and EL4T.DE.

Drawdown Indicators

	EAH.DE	EL4T.DE	Difference
Max Drawdown Largest peak-to-trough decline	-36.30%	-13.89%	-22.41%
Max Drawdown (1Y) Largest decline over 1 year	-4.72%	-2.04%	-2.68%
Max Drawdown (3Y) Largest decline over 3 years	-7.83%	-2.28%	-5.55%
Max Drawdown (5Y) Largest decline over 5 years	—	-12.08%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-13.89%	—
Current Drawdown Current decline from peak	-29.61%	-6.64%	-22.97%
Average Drawdown Average peak-to-trough decline	-25.57%	-3.05%	-22.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.19%	0.81%	+1.38%

Volatility

EAH.DE vs. EL4T.DE - Volatility Comparison

Amundi Euro Government Green Bond UCITS ETF Acc (EAH.DE) has a higher volatility of 2.49% compared to Deka Deutsche Boerse EUROGOV Germany 3-5 UCITS ETF (EL4T.DE) at 0.98%. This indicates that EAH.DE's price experiences larger fluctuations and is considered to be riskier than EL4T.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EAH.DE	EL4T.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.49%	0.98%	+1.51%
Volatility (6M) Calculated over the trailing 6-month period	5.30%	2.08%	+3.22%
Volatility (1Y) Calculated over the trailing 1-year period	6.55%	2.36%	+4.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.85%	3.49%	+7.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.85%	2.69%	+8.16%

EAH.DE vs. EL4T.DE - Expense Ratio Comparison

EAH.DE has a 0.20% expense ratio, which is higher than EL4T.DE's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

EAH.DE vs. EL4T.DE - Dividend Comparison

EAH.DE has not paid dividends to shareholders, while EL4T.DE's dividend yield for the trailing twelve months is around 1.35%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EAH.DE Amundi Euro Government Green Bond UCITS ETF Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EL4T.DE Deka Deutsche Boerse EUROGOV Germany 3-5 UCITS ETF	1.35%	1.33%	1.34%	0.83%	0.21%	0.61%	0.96%	0.99%	0.91%	1.44%	1.56%	1.80%

Frequently Asked Questions

Can I hold both EAH.DE and EL4T.DE in my portfolio?

EAH.DE and EL4T.DE have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EAH.DE or EL4T.DE?

On fees, EL4T.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EAH.DE or EL4T.DE?

EL4T.DE is cheaper with a 0.15% expense ratio, compared with 0.20% for EAH.DE.

What is the main difference between EAH.DE and EL4T.DE?

EAH.DE tracks Solactive Euro Government Green Bond, while EL4T.DE tracks Deutsche Börse EUROGOV® Germany 3-5. They also come from different issuers: Amundi and Deka. Their fees differ too: 0.20% for EAH.DE and 0.15% for EL4T.DE.