EL48.DE vs. 4UBF.DE
EL48.DE (Deka iBoxx EUR Liquid Germany Covered Diversified UCITS ETF) and 4UBF.DE (UBS ETF (LU) Bloomberg MSCI Euro Area Liquid Corporates Sustainable UCITS ETF (EUR) Acc) are both European Corporate Bonds funds - EL48.DE tracks the iBoxx® EUR Liquid Germany Covered Diversified while 4UBF.DE tracks the Bloomberg MSCI Euro Area Liquid Corporates Sustainable. Both are passively managed. Over the past 5 years, EL48.DE returned -1.15%/yr vs -0.09%/yr for 4UBF.DE. A 0.74 correlation means they provide meaningful diversification when combined. EL48.DE charges 0.09%/yr vs 0.13%/yr for 4UBF.DE.
Performance
EL48.DE vs. 4UBF.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EL48.DE achieves a 0.82% return, which is significantly lower than 4UBF.DE's 1.38% return.
EL48.DE
- 1D
- 0.00%
- 1M
- 0.48%
- YTD
- 0.82%
- 6M
- 0.92%
- 1Y
- 1.38%
- 3Y*
- 3.27%
- 5Y*
- -1.15%
- 10Y*
- -0.39%
4UBF.DE
- 1D
- 0.00%
- 1M
- 0.56%
- YTD
- 1.38%
- 6M
- 1.46%
- 1Y
- 2.46%
- 3Y*
- 5.09%
- 5Y*
- -0.09%
- 10Y*
- —
EL48.DE vs. 4UBF.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EL48.DE Deka iBoxx EUR Liquid Germany Covered Diversified UCITS ETF | 0.82% | 2.29% | 2.96% | 5.22% | -14.74% | -1.41% |
4UBF.DE UBS ETF (LU) Bloomberg MSCI Euro Area Liquid Corporates Sustainable UCITS ETF (EUR) Acc | 1.38% | 3.23% | 4.51% | 8.22% | -15.67% | -0.31% |
Correlation
The correlation between EL48.DE and 4UBF.DE is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Apr 19, 2021 | 0.74 |
Over the past year, the correlation between EL48.DE and 4UBF.DE has dropped to 0.54 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.
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Return for Risk
EL48.DE vs. 4UBF.DE — Risk / Return Rank
EL48.DE
4UBF.DE
EL48.DE vs. 4UBF.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Deka iBoxx EUR Liquid Germany Covered Diversified UCITS ETF (EL48.DE) and UBS ETF (LU) Bloomberg MSCI Euro Area Liquid Corporates Sustainable UCITS ETF (EUR) Acc (4UBF.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.
| EL48.DE | 4UBF.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.12 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.62 | 0.86 | -0.24 |
| Martin ratioReturn relative to average drawdown | 1.53 | 2.79 | -1.26 |
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Drawdowns
EL48.DE vs. 4UBF.DE - Drawdown Comparison
The maximum EL48.DE drawdown since its inception was -18.24%, smaller than the maximum 4UBF.DE drawdown of -19.99%. Use the drawdown chart below to compare losses from any high point for EL48.DE and 4UBF.DE.
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Drawdown Indicators
| EL48.DE | 4UBF.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.24% | -19.99% | +1.75% |
Max Drawdown (1Y)Largest decline over 1 year | -2.22% | -2.88% | +0.66% |
Max Drawdown (3Y)Largest decline over 3 years | -2.22% | -2.88% | +0.66% |
Max Drawdown (5Y)Largest decline over 5 years | -17.05% | -19.99% | +2.94% |
Max Drawdown (10Y)Largest decline over 10 years | -18.24% | — | — |
Current DrawdownCurrent decline from peak | -7.89% | -2.18% | -5.71% |
Average DrawdownAverage peak-to-trough decline | -4.24% | -8.47% | +4.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | 0.88% | +0.02% |
Volatility
EL48.DE vs. 4UBF.DE - Volatility Comparison
The current volatility for Deka iBoxx EUR Liquid Germany Covered Diversified UCITS ETF (EL48.DE) is 0.59%, while UBS ETF (LU) Bloomberg MSCI Euro Area Liquid Corporates Sustainable UCITS ETF (EUR) Acc (4UBF.DE) has a volatility of 0.79%. This indicates that EL48.DE experiences smaller price fluctuations and is considered to be less risky than 4UBF.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EL48.DE | 4UBF.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.59% | 0.79% | -0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 2.09% | 3.03% | -0.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.48% | 3.68% | -1.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.15% | 5.09% | -0.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.23% | 5.00% | -1.77% |
EL48.DE vs. 4UBF.DE - Expense Ratio Comparison
EL48.DE has a 0.09% expense ratio, which is lower than 4UBF.DE's 0.13% 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
EL48.DE vs. 4UBF.DE - Dividend Comparison
EL48.DE's dividend yield for the trailing twelve months is around 2.06%, while 4UBF.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
4UBF.DE UBS ETF (LU) Bloomberg MSCI Euro Area Liquid Corporates Sustainable UCITS ETF (EUR) 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% |
EL48.DE Deka iBoxx EUR Liquid Germany Covered Diversified UCITS ETF | 2.06% | 2.45% | 1.70% | 1.66% | 0.19% | 0.15% | 0.19% | 0.28% | 0.28% | 0.87% | 0.90% | 0.94% |
Frequently Asked Questions
EL48.DE and 4UBF.DE have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EL48.DE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EL48.DE is cheaper with a 0.09% expense ratio, compared with 0.13% for 4UBF.DE.
EL48.DE tracks iBoxx® EUR Liquid Germany Covered Diversified, while 4UBF.DE tracks Bloomberg MSCI Euro Area Liquid Corporates Sustainable. They also come from different issuers: Deka and UBS. Their fees differ too: 0.09% for EL48.DE and 0.13% for 4UBF.DE.
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