EGV2.DE vs. EL4W.DE
EGV2.DE (Amundi Smart Overnight Return UCITS ETF (Dist)) and EL4W.DE (Deka Deutsche Börse EUROGOV Germany Money Market UCITS ETF) are both Money Market funds - EGV2.DE tracks the ESTR Compounded Index while EL4W.DE tracks the Deutsche Börse EUROGOV Germany Money Market Index. Both are passively managed. Over the past 5 years, EGV2.DE returned 2.22%/yr vs 1.45%/yr for EL4W.DE. At a 0.07 correlation, their price movements are largely independent. EGV2.DE charges 0.10%/yr vs 0.12%/yr for EL4W.DE.
Performance
EGV2.DE vs. EL4W.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EGV2.DE achieves a 1.34% return, which is significantly higher than EL4W.DE's 0.92% return.
EGV2.DE
- 1D
- -0.31%
- 1M
- 0.20%
- 6M
- 1.28%
- YTD
- 1.34%
- 1Y
- 2.35%
- 3Y*
- 3.23%
- 5Y*
- 2.22%
- 10Y*
- —
EL4W.DE
- 1D
- 0.03%
- 1M
- 0.13%
- 6M
- 0.80%
- YTD
- 0.92%
- 1Y
- 1.67%
- 3Y*
- 2.60%
- 5Y*
- 1.45%
- 10Y*
- 0.24%
EGV2.DE vs. EL4W.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
EGV2.DE Amundi Smart Overnight Return UCITS ETF (Dist) | 1.34% | 2.48% | 4.10% | 3.25% | 0.17% | -0.47% | -0.13% |
EL4W.DE Deka Deutsche Börse EUROGOV Germany Money Market UCITS ETF | 0.92% | 1.91% | 3.36% | 2.64% | -1.17% | -0.77% | -0.23% |
Correlation
The correlation between EGV2.DE and EL4W.DE is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Sep 17, 2020 | 0.07 |
The correlation between EGV2.DE and EL4W.DE shifts across timeframes, from -0.06 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EGV2.DE vs. EL4W.DE — Risk / Return Rank
EGV2.DE
EL4W.DE
EGV2.DE vs. EL4W.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi Smart Overnight Return UCITS ETF (Dist) (EGV2.DE) and Deka Deutsche Börse EUROGOV Germany Money Market UCITS ETF (EL4W.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.
| EGV2.DE | EL4W.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.27 | ||
| Sortino ratioReturn per unit of downside risk | -2.56 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.81 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | 7.46 | 11.55 | -4.09 |
| Martin ratioReturn relative to average drawdown | 31.20 | 67.77 | -36.57 |
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Drawdowns
EGV2.DE vs. EL4W.DE - Drawdown Comparison
The maximum EGV2.DE drawdown since its inception was -0.86%, smaller than the maximum EL4W.DE drawdown of -8.19%. Use the drawdown chart below to compare losses from any high point for EGV2.DE and EL4W.DE.
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Drawdown Indicators
| EGV2.DE | EL4W.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.86% | -8.19% | +7.33% |
Max Drawdown (1Y)Largest decline over 1 year | -0.31% | -0.14% | -0.17% |
Max Drawdown (3Y)Largest decline over 3 years | -0.31% | -0.64% | +0.33% |
Max Drawdown (5Y)Largest decline over 5 years | -0.46% | -1.64% | +1.18% |
Max Drawdown (10Y)Largest decline over 10 years | — | -6.22% | — |
Current DrawdownCurrent decline from peak | -0.31% | 0.00% | -0.31% |
Average DrawdownAverage peak-to-trough decline | -0.22% | -3.10% | +2.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.08% | 0.02% | +0.06% |
Volatility
EGV2.DE vs. EL4W.DE - Volatility Comparison
Amundi Smart Overnight Return UCITS ETF (Dist) (EGV2.DE) has a higher volatility of 0.62% compared to Deka Deutsche Börse EUROGOV Germany Money Market UCITS ETF (EL4W.DE) at 0.14%. This indicates that EGV2.DE's price experiences larger fluctuations and is considered to be riskier than EL4W.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EGV2.DE | EL4W.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.62% | 0.14% | +0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 1.00% | 0.38% | +0.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.20% | 0.52% | +0.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.76% | 0.80% | -0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.71% | 0.94% | -0.23% |
EGV2.DE vs. EL4W.DE - Expense Ratio Comparison
EGV2.DE has a 0.10% expense ratio, which is lower than EL4W.DE's 0.12% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
EGV2.DE vs. EL4W.DE - Dividend Comparison
EGV2.DE's dividend yield for the trailing twelve months is around 2.93%, more than EL4W.DE's 2.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EGV2.DE Amundi Smart Overnight Return UCITS ETF (Dist) | 2.93% | 2.97% | 3.91% | 2.50% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EL4W.DE Deka Deutsche Börse EUROGOV Germany Money Market UCITS ETF | 2.08% | 3.05% | 2.03% | 1.04% | 0.25% | 0.63% | 0.46% | 1.00% | 0.41% | 1.37% | 1.55% | 1.54% |
Frequently Asked Questions
EGV2.DE and EL4W.DE have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EGV2.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EGV2.DE is cheaper with a 0.10% expense ratio, compared with 0.12% for EL4W.DE.
EGV2.DE tracks ESTR Compounded Index, while EL4W.DE tracks Deutsche Börse EUROGOV Germany Money Market Index. They also come from different issuers: Amundi and Deka. Their fees differ too: 0.10% for EGV2.DE and 0.12% for EL4W.DE.
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