EL48.DE vs. IE3E.DE
EL48.DE (Deka iBoxx EUR Liquid Germany Covered Diversified UCITS ETF) and IE3E.DE (iShares EUR Corporate Bond 0-3yr ESG UCITS ETF EUR Acc) are both European Corporate Bonds funds - EL48.DE tracks the iBoxx® EUR Liquid Germany Covered Diversified while IE3E.DE tracks the Bloomberg MSCI Euro Corporate 0-3 Sustainable SRI. Both are passively managed. Over the past 3 years, EL48.DE returned 2.99%/yr vs 3.74%/yr for IE3E.DE. A 0.55 correlation means they provide meaningful diversification when combined. EL48.DE charges 0.09%/yr vs 0.12%/yr for IE3E.DE.
Performance
EL48.DE vs. IE3E.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EL48.DE achieves a 0.11% return, which is significantly lower than IE3E.DE's 0.48% return.
EL48.DE
- 1D
- 0.07%
- 1M
- 0.16%
- YTD
- 0.11%
- 6M
- -0.02%
- 1Y
- 0.83%
- 3Y*
- 2.99%
- 5Y*
- -1.32%
- 10Y*
- -0.41%
IE3E.DE
- 1D
- 0.05%
- 1M
- 0.19%
- YTD
- 0.48%
- 6M
- 0.73%
- 1Y
- 1.92%
- 3Y*
- 3.74%
- 5Y*
- —
- 10Y*
- —
EL48.DE vs. IE3E.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
EL48.DE Deka iBoxx EUR Liquid Germany Covered Diversified UCITS ETF | 0.11% | 2.29% | 2.95% | 5.23% | -8.31% |
IE3E.DE iShares EUR Corporate Bond 0-3yr ESG UCITS ETF EUR Acc | 0.48% | 3.04% | 4.31% | 4.16% | -1.80% |
Correlation
The correlation between EL48.DE and IE3E.DE is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since May 30, 2022 | 0.55 |
The correlation between EL48.DE and IE3E.DE has been stable across timeframes, ranging from 0.46 to 0.55 - a consistent structural relationship.
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Return for Risk
EL48.DE vs. IE3E.DE — Risk / Return Rank
EL48.DE
IE3E.DE
EL48.DE vs. IE3E.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 iShares EUR Corporate Bond 0-3yr ESG UCITS ETF EUR Acc (IE3E.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.
| EL48.DE | IE3E.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.98 | ||
| Sortino ratioReturn per unit of downside risk | -1.46 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.25 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.30 | 1.86 | -1.56 |
| Martin ratioReturn relative to average drawdown | 0.77 | 7.32 | -6.55 |
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
| EL48.DE | IE3E.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.27 | 1.25 | -0.98 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.33 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.14 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.15 | 1.57 | -1.42 |
Drawdowns
EL48.DE vs. IE3E.DE - Drawdown Comparison
The maximum EL48.DE drawdown since its inception was -18.24%, which is greater than IE3E.DE's maximum drawdown of -3.12%. Use the drawdown chart below to compare losses from any high point for EL48.DE and IE3E.DE.
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Drawdown Indicators
| EL48.DE | IE3E.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.24% | -3.12% | -15.12% |
Max Drawdown (1Y)Largest decline over 1 year | -2.22% | -0.98% | -1.24% |
Max Drawdown (3Y)Largest decline over 3 years | -2.22% | -0.98% | -1.24% |
Max Drawdown (5Y)Largest decline over 5 years | -17.05% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -18.24% | — | — |
Current DrawdownCurrent decline from peak | -8.55% | -0.08% | -8.47% |
Average DrawdownAverage peak-to-trough decline | -4.43% | -0.55% | -3.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.85% | 0.25% | +0.60% |
Volatility
EL48.DE vs. IE3E.DE - Volatility Comparison
Deka iBoxx EUR Liquid Germany Covered Diversified UCITS ETF (EL48.DE) has a higher volatility of 1.04% compared to iShares EUR Corporate Bond 0-3yr ESG UCITS ETF EUR Acc (IE3E.DE) at 0.42%. This indicates that EL48.DE's price experiences larger fluctuations and is considered to be riskier than IE3E.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 | IE3E.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.04% | 0.42% | +0.62% |
Volatility (6M)Calculated over the trailing 6-month period | 2.08% | 1.31% | +0.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.49% | 1.46% | +1.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.47% | 1.59% | +2.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.60% | 1.59% | +2.01% |
EL48.DE vs. IE3E.DE - Expense Ratio Comparison
EL48.DE has a 0.09% expense ratio, which is lower than IE3E.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
EL48.DE vs. IE3E.DE - Dividend Comparison
EL48.DE's dividend yield for the trailing twelve months is around 2.07%, while IE3E.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EL48.DE Deka iBoxx EUR Liquid Germany Covered Diversified UCITS ETF | 2.07% | 2.45% | 1.70% | 1.66% | 0.19% | 0.15% | 0.19% | 0.28% | 0.28% | 0.87% | 0.90% | 0.94% |
IE3E.DE iShares EUR Corporate Bond 0-3yr ESG 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% |
Frequently Asked Questions
EL48.DE and IE3E.DE have a correlation of 0.46, 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 0.12% for IE3E.DE.
EL48.DE tracks iBoxx® EUR Liquid Germany Covered Diversified, while IE3E.DE tracks Bloomberg MSCI Euro Corporate 0-3 Sustainable SRI. They also come from different issuers: Deka and iShares. Their fees differ too: 0.09% for EL48.DE and 0.12% for IE3E.DE.
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