EIB3.DE vs. EL4S.DE
EIB3.DE (Invesco Euro Government Bond 1-3 Year UCITS ETF Dist) and EL4S.DE (Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF) are both European Government Bonds funds - EIB3.DE tracks the Bloomberg Euro Government Select 1-3 while EL4S.DE tracks the Deutsche Börse EUROGOV® Germany 1-3. Both are passively managed. Over the past 5 years, EIB3.DE returned 0.63%/yr vs 0.36%/yr for EL4S.DE. A 0.76 correlation means they provide meaningful diversification when combined. EIB3.DE charges 0.10%/yr vs 0.15%/yr for EL4S.DE.
Performance
EIB3.DE vs. EL4S.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EIB3.DE achieves a 0.19% return, which is significantly higher than EL4S.DE's 0.11% return.
EIB3.DE
- 1D
- 0.93%
- 1M
- 0.27%
- YTD
- 0.19%
- 6M
- 0.55%
- 1Y
- 0.81%
- 3Y*
- 2.63%
- 5Y*
- 0.63%
- 10Y*
- —
EL4S.DE
- 1D
- 0.02%
- 1M
- 0.23%
- YTD
- 0.11%
- 6M
- 0.14%
- 1Y
- 0.60%
- 3Y*
- 2.24%
- 5Y*
- 0.36%
- 10Y*
- -0.20%
EIB3.DE vs. EL4S.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EIB3.DE Invesco Euro Government Bond 1-3 Year UCITS ETF Dist | 0.19% | 2.14% | 3.03% | 3.39% | -4.93% | -0.76% | -0.13% | -0.51% |
EL4S.DE Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF | 0.11% | 1.65% | 2.75% | 2.51% | -4.56% | -0.97% | -0.79% | -0.84% |
Correlation
The correlation between EIB3.DE and EL4S.DE is 0.52, 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 | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Sep 3, 2019 | 0.76 |
Over the past year, the correlation between EIB3.DE and EL4S.DE has dropped to 0.52 - well below their long-term average of 0.76, suggesting their price drivers have been diverging.
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Return for Risk
EIB3.DE vs. EL4S.DE — Risk / Return Rank
EIB3.DE
EL4S.DE
EIB3.DE vs. EL4S.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Euro Government Bond 1-3 Year UCITS ETF Dist (EIB3.DE) and Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF (EL4S.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.
| EIB3.DE | EL4S.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.10 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.50 | 0.58 | -0.08 |
| Martin ratioReturn relative to average drawdown | 1.50 | 1.87 | -0.37 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EIB3.DE | EL4S.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.26 | 0.54 | -0.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.30 | 0.24 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.18 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | -0.30 | +0.47 |
Drawdowns
EIB3.DE vs. EL4S.DE - Drawdown Comparison
The maximum EIB3.DE drawdown since its inception was -6.78%, smaller than the maximum EL4S.DE drawdown of -13.04%. Use the drawdown chart below to compare losses from any high point for EIB3.DE and EL4S.DE.
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Drawdown Indicators
| EIB3.DE | EL4S.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.78% | -13.04% | +6.26% |
Max Drawdown (1Y)Largest decline over 1 year | -1.60% | -1.03% | -0.57% |
Max Drawdown (3Y)Largest decline over 3 years | -1.60% | -1.03% | -0.57% |
Max Drawdown (5Y)Largest decline over 5 years | -5.91% | -5.86% | -0.05% |
Max Drawdown (10Y)Largest decline over 10 years | — | -9.46% | — |
Current DrawdownCurrent decline from peak | -0.68% | -6.04% | +5.36% |
Average DrawdownAverage peak-to-trough decline | -2.06% | -5.87% | +3.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.54% | 0.32% | +0.22% |
Volatility
EIB3.DE vs. EL4S.DE - Volatility Comparison
Invesco Euro Government Bond 1-3 Year UCITS ETF Dist (EIB3.DE) has a higher volatility of 1.50% compared to Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF (EL4S.DE) at 0.44%. This indicates that EIB3.DE's price experiences larger fluctuations and is considered to be riskier than EL4S.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EIB3.DE | EL4S.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.50% | 0.44% | +1.06% |
Volatility (6M)Calculated over the trailing 6-month period | 2.75% | 0.97% | +1.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.11% | 1.10% | +2.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.11% | 1.46% | +0.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.89% | 1.12% | +0.77% |
EIB3.DE vs. EL4S.DE - Expense Ratio Comparison
EIB3.DE has a 0.10% expense ratio, which is lower than EL4S.DE's 0.15% 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
EIB3.DE vs. EL4S.DE - Dividend Comparison
EIB3.DE's dividend yield for the trailing twelve months is around 2.41%, more than EL4S.DE's 1.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EIB3.DE Invesco Euro Government Bond 1-3 Year UCITS ETF Dist | 2.41% | 2.51% | 2.80% | 2.24% | 0.23% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EL4S.DE Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF | 1.48% | 1.20% | 0.83% | 0.60% | 0.88% | 0.94% | 0.78% | 1.06% | 0.99% | 1.63% | 1.46% | 1.60% |
Frequently Asked Questions
EIB3.DE and EL4S.DE have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EIB3.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EIB3.DE is cheaper with a 0.10% expense ratio, compared with 0.15% for EL4S.DE.
EIB3.DE tracks Bloomberg Euro Government Select 1-3, while EL4S.DE tracks Deutsche Börse EUROGOV® Germany 1-3. They also come from different issuers: Invesco and Deka. Their fees differ too: 0.10% for EIB3.DE and 0.15% for EL4S.DE.
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