EL48.DE vs. EL4X.DE
EL48.DE (Deka iBoxx EUR Liquid Germany Covered Diversified UCITS ETF) and EL4X.DE (Deka DAXplus Maximum Dividend UCITS ETF) are both exchange-traded funds - EL48.DE is a European Corporate Bonds fund tracking the iBoxx® EUR Liquid Germany Covered Diversified, while EL4X.DE is a Europe Equities fund tracking the DAXplus® Maximum Dividend. Both are passively managed. Over the past 10 years, EL48.DE returned -0.39%/yr vs 3.27%/yr for EL4X.DE. At a correlation of -0.11, they often move in opposite directions. EL48.DE charges 0.09%/yr vs 0.30%/yr for EL4X.DE.
Performance
EL48.DE vs. EL4X.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 EL4X.DE's 6.52% return. Over the past 10 years, EL48.DE has underperformed EL4X.DE with an annualized return of -0.39%, while EL4X.DE has yielded a comparatively higher 3.27% annualized 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%
EL4X.DE
- 1D
- 0.44%
- 1M
- -1.28%
- YTD
- 6.52%
- 6M
- 7.70%
- 1Y
- 8.71%
- 3Y*
- 9.77%
- 5Y*
- 2.63%
- 10Y*
- 3.27%
EL48.DE vs. EL4X.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EL48.DE Deka iBoxx EUR Liquid Germany Covered Diversified UCITS ETF | 0.82% | 2.29% | 2.96% | 5.22% | -14.74% | -2.30% | 1.63% | 2.29% | 0.39% | -0.02% |
EL4X.DE Deka DAXplus Maximum Dividend UCITS ETF | 6.52% | 14.14% | -1.45% | 26.37% | -20.07% | 9.05% | -2.95% | 11.71% | -18.87% | 5.70% |
Correlation
The correlation between EL48.DE and EL4X.DE is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Dec 16, 2009 | -0.11 |
The correlation between EL48.DE and EL4X.DE shifts across timeframes, from -0.11 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EL48.DE vs. EL4X.DE — Risk / Return Rank
EL48.DE
EL4X.DE
EL48.DE vs. EL4X.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 Deka DAXplus Maximum Dividend UCITS ETF (EL4X.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 | EL4X.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.11 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.62 | 0.88 | -0.26 |
| Martin ratioReturn relative to average drawdown | 1.53 | 1.89 | -0.36 |
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Drawdowns
EL48.DE vs. EL4X.DE - Drawdown Comparison
The maximum EL48.DE drawdown since its inception was -18.24%, smaller than the maximum EL4X.DE drawdown of -52.91%. Use the drawdown chart below to compare losses from any high point for EL48.DE and EL4X.DE.
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Drawdown Indicators
| EL48.DE | EL4X.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.24% | -52.91% | +34.67% |
Max Drawdown (1Y)Largest decline over 1 year | -2.22% | -9.87% | +7.65% |
Max Drawdown (3Y)Largest decline over 3 years | -2.22% | -16.60% | +14.38% |
Max Drawdown (5Y)Largest decline over 5 years | -17.05% | -34.51% | +17.46% |
Max Drawdown (10Y)Largest decline over 10 years | -18.24% | -52.91% | +34.67% |
Current DrawdownCurrent decline from peak | -7.89% | -2.41% | -5.48% |
Average DrawdownAverage peak-to-trough decline | -4.24% | -12.10% | +7.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | 4.60% | -3.70% |
Volatility
EL48.DE vs. EL4X.DE - Volatility Comparison
The current volatility for Deka iBoxx EUR Liquid Germany Covered Diversified UCITS ETF (EL48.DE) is 0.59%, while Deka DAXplus Maximum Dividend UCITS ETF (EL4X.DE) has a volatility of 4.66%. This indicates that EL48.DE experiences smaller price fluctuations and is considered to be less risky than EL4X.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 | EL4X.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.59% | 4.66% | -4.07% |
Volatility (6M)Calculated over the trailing 6-month period | 2.09% | 12.17% | -10.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.48% | 15.36% | -12.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.15% | 16.91% | -12.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.23% | 18.10% | -14.87% |
EL48.DE vs. EL4X.DE - Expense Ratio Comparison
EL48.DE has a 0.09% expense ratio, which is lower than EL4X.DE's 0.30% expense ratio.
Dividends
EL48.DE vs. EL4X.DE - Dividend Comparison
EL48.DE's dividend yield for the trailing twelve months is around 2.06%, less than EL4X.DE's 4.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
EL4X.DE Deka DAXplus Maximum Dividend UCITS ETF | 4.71% | 5.11% | 7.17% | 5.99% | 8.64% | 3.83% | 2.89% | 6.66% | 8.48% | 7.17% | 7.37% | 5.62% |
Frequently Asked Questions
EL48.DE and EL4X.DE have a correlation of 0.21, 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 0.30% for EL4X.DE.
EL48.DE is categorized as European Corporate Bonds, while EL4X.DE is Europe Equities. EL48.DE tracks iBoxx® EUR Liquid Germany Covered Diversified, while EL4X.DE tracks DAXplus® Maximum Dividend. Their fees differ too: 0.09% for EL48.DE and 0.30% for EL4X.DE.
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