EL45.DE vs. EL4S.DE
EL45.DE (Deka MSCI Japan Climate Change ESG CTB UCITS ETF) and EL4S.DE (Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF) are both exchange-traded funds - EL45.DE is a Japan Equities fund tracking the MSCI Japan Climate Change ESG Select CTB Index, while EL4S.DE is a European Government Bonds fund tracking the Deutsche Börse EUROGOV® Germany 1-3. Both are passively managed. Over the past 10 years, EL45.DE returned 383.57%/yr vs -0.20%/yr for EL4S.DE. At a 0.03 correlation, their price movements are largely independent. EL45.DE charges 0.26%/yr vs 0.15%/yr for EL4S.DE.
Performance
EL45.DE vs. EL4S.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EL45.DE achieves a 15.53% return, which is significantly higher than EL4S.DE's 0.25% return. Over the past 10 years, EL45.DE has outperformed EL4S.DE with an annualized return of 383.57%, while EL4S.DE has yielded a comparatively lower -0.20% annualized return.
EL45.DE
- 1D
- -1.72%
- 1M
- -0.71%
- 6M
- 10.63%
- YTD
- 15.53%
- 1Y
- 31.86%
- 3Y*
- 14.27%
- 5Y*
- 7.46%
- 10Y*
- 383.57%
EL4S.DE
- 1D
- 0.01%
- 1M
- -0.09%
- 6M
- 0.09%
- YTD
- 0.25%
- 1Y
- 0.67%
- 3Y*
- 2.34%
- 5Y*
- 0.40%
- 10Y*
- -0.20%
EL45.DE vs. EL4S.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EL45.DE Deka MSCI Japan Climate Change ESG CTB UCITS ETF | 15.53% | 10.57% | 11.51% | 12.77% | -14.83% | 9.65% | 491,262.69% | 840.15% | 41.10% | 6,472.17% |
EL4S.DE Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF | 0.25% | 1.65% | 2.76% | 2.50% | -4.56% | -0.96% | -0.79% | -0.84% | -0.57% | -1.08% |
Correlation
The correlation between EL45.DE and EL4S.DE is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2009 | 0.03 |
Over the past year, EL45.DE and EL4S.DE have become more correlated (0.24) than their long-term average of 0.03, meaning their price movements have been converging.
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Return for Risk
EL45.DE vs. EL4S.DE — Risk / Return Rank
EL45.DE
EL4S.DE
EL45.DE vs. EL4S.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Deka MSCI Japan Climate Change ESG CTB UCITS ETF (EL45.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.
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.
| EL45.DE | EL4S.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.10 | ||
| Sortino ratioReturn per unit of downside risk | +1.57 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.11 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.87 | 0.65 | +2.23 |
| Martin ratioReturn relative to average drawdown | 9.57 | 2.01 | +7.56 |
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Drawdowns
EL45.DE vs. EL4S.DE - Drawdown Comparison
The maximum EL45.DE drawdown since its inception was -23.54%, which is greater than EL4S.DE's maximum drawdown of -9.45%. Use the drawdown chart below to compare losses from any high point for EL45.DE and EL4S.DE.
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Drawdown Indicators
| EL45.DE | EL4S.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.54% | -9.45% | -14.09% |
Max Drawdown (1Y)Largest decline over 1 year | -11.55% | -1.03% | -10.52% |
Max Drawdown (3Y)Largest decline over 3 years | -16.76% | -1.03% | -15.73% |
Max Drawdown (5Y)Largest decline over 5 years | -21.28% | -5.86% | -15.42% |
Max Drawdown (10Y)Largest decline over 10 years | -22.36% | -9.43% | -12.93% |
Current DrawdownCurrent decline from peak | -5.46% | -2.03% | -3.43% |
Average DrawdownAverage peak-to-trough decline | -5.86% | -2.17% | -3.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.47% | 0.33% | +3.14% |
Volatility
EL45.DE vs. EL4S.DE - Volatility Comparison
Deka MSCI Japan Climate Change ESG CTB UCITS ETF (EL45.DE) has a higher volatility of 7.50% compared to Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF (EL4S.DE) at 0.33%. This indicates that EL45.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
| EL45.DE | EL4S.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.50% | 0.33% | +7.17% |
Volatility (6M)Calculated over the trailing 6-month period | 16.07% | 1.01% | +15.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.84% | 1.15% | +18.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.83% | 1.47% | +15.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21,842.13% | 1.13% | +21,841.00% |
EL45.DE vs. EL4S.DE - Expense Ratio Comparison
EL45.DE has a 0.26% expense ratio, which is higher than EL4S.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
EL45.DE vs. EL4S.DE - Dividend Comparison
EL45.DE's dividend yield for the trailing twelve months is around 1.46%, less than EL4S.DE's 1.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EL45.DE Deka MSCI Japan Climate Change ESG CTB UCITS ETF | 1.46% | 1.77% | 1.49% | 1.64% | 1.95% | 2.07% | 165.19% | 81.94% | 42.51% | 159.77% | 62.28% | 103.93% |
EL4S.DE Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF | 1.49% | 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
EL45.DE and EL4S.DE have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EL4S.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EL4S.DE is cheaper with a 0.15% expense ratio, compared with 0.26% for EL45.DE.
EL45.DE is categorized as Japan Equities, while EL4S.DE is European Government Bonds. EL45.DE tracks MSCI Japan Climate Change ESG Select CTB Index, while EL4S.DE tracks Deutsche Börse EUROGOV® Germany 1-3. Their fees differ too: 0.26% for EL45.DE and 0.15% for EL4S.DE.
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