EL48.DE vs. IEXA.DE
EL48.DE (Deka iBoxx EUR Liquid Germany Covered Diversified UCITS ETF) and IEXA.DE (iShares EUR Corporate Bond ex-Financials UCITS ETF EUR Acc) are both European Corporate Bonds funds - EL48.DE tracks the iBoxx® EUR Liquid Germany Covered Diversified while IEXA.DE tracks the Bloomberg Euro Corporate ex-Financials Bond. Both are passively managed. Over the past 3 years, EL48.DE returned 3.27%/yr vs 4.16%/yr for IEXA.DE. A 0.76 correlation means they provide meaningful diversification when combined. EL48.DE charges 0.09%/yr vs 0.20%/yr for IEXA.DE.
Performance
EL48.DE vs. IEXA.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 IEXA.DE's 1.30% 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%
IEXA.DE
- 1D
- 0.00%
- 1M
- 0.74%
- YTD
- 1.30%
- 6M
- 1.48%
- 1Y
- 2.24%
- 3Y*
- 4.16%
- 5Y*
- —
- 10Y*
- —
EL48.DE vs. IEXA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
EL48.DE Deka iBoxx EUR Liquid Germany Covered Diversified UCITS ETF | 0.82% | 2.29% | 2.96% | 5.22% | -8.13% |
IEXA.DE iShares EUR Corporate Bond ex-Financials UCITS ETF EUR Acc | 1.30% | 2.47% | 3.54% | 7.38% | -5.39% |
Correlation
The correlation between EL48.DE and IEXA.DE is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since May 27, 2022 | 0.76 |
The correlation between EL48.DE and IEXA.DE shifts across timeframes, from 0.56 (1 year) to 0.76 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EL48.DE vs. IEXA.DE — Risk / Return Rank
EL48.DE
IEXA.DE
EL48.DE vs. IEXA.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 ex-Financials UCITS ETF EUR Acc (IEXA.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 | IEXA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.14 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.62 | 0.87 | -0.26 |
| Martin ratioReturn relative to average drawdown | 1.53 | 2.79 | -1.27 |
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Drawdowns
EL48.DE vs. IEXA.DE - Drawdown Comparison
The maximum EL48.DE drawdown since its inception was -18.24%, which is greater than IEXA.DE's maximum drawdown of -9.06%. Use the drawdown chart below to compare losses from any high point for EL48.DE and IEXA.DE.
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Drawdown Indicators
| EL48.DE | IEXA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.24% | -9.06% | -9.18% |
Max Drawdown (1Y)Largest decline over 1 year | -2.22% | -2.56% | +0.34% |
Max Drawdown (3Y)Largest decline over 3 years | -2.22% | -2.56% | +0.34% |
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 | -7.89% | 0.00% | -7.89% |
Average DrawdownAverage peak-to-trough decline | -4.24% | -2.24% | -2.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | 0.80% | +0.10% |
Volatility
EL48.DE vs. IEXA.DE - Volatility Comparison
The current volatility for Deka iBoxx EUR Liquid Germany Covered Diversified UCITS ETF (EL48.DE) is 0.59%, while iShares EUR Corporate Bond ex-Financials UCITS ETF EUR Acc (IEXA.DE) has a volatility of 0.78%. This indicates that EL48.DE experiences smaller price fluctuations and is considered to be less risky than IEXA.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 | IEXA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.59% | 0.78% | -0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 2.09% | 2.77% | -0.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.48% | 3.26% | -0.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.15% | 4.77% | -0.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.23% | 4.77% | -1.54% |
EL48.DE vs. IEXA.DE - Expense Ratio Comparison
EL48.DE has a 0.09% expense ratio, which is lower than IEXA.DE's 0.20% 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. IEXA.DE - Dividend Comparison
EL48.DE's dividend yield for the trailing twelve months is around 2.06%, while IEXA.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 | 2.06% | 2.45% | 1.70% | 1.66% | 0.19% | 0.15% | 0.19% | 0.28% | 0.28% | 0.87% | 0.90% | 0.94% |
IEXA.DE iShares EUR Corporate Bond ex-Financials 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 IEXA.DE have a correlation of 0.56, 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 0.20% for IEXA.DE.
EL48.DE tracks iBoxx® EUR Liquid Germany Covered Diversified, while IEXA.DE tracks Bloomberg Euro Corporate ex-Financials Bond. They also come from different issuers: Deka and iShares. Their fees differ too: 0.09% for EL48.DE and 0.20% for IEXA.DE.
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