EL49.DE vs. COVR.DE
EL49.DE (Deka iBoxx EUR Liquid Corporates Diversified UCITS ETF) and COVR.DE (PIMCO Covered Bond UCITS ETF Dist) are both European Corporate Bonds funds - EL49.DE tracks the iBoxx® EUR Liquid Corporates Diversified while COVR.DE tracks the PIMCO Covered Bond. Both are passively managed. Over the past 10 years, EL49.DE returned 0.63%/yr vs 0.53%/yr for COVR.DE. A 0.62 correlation means they provide meaningful diversification when combined. EL49.DE charges 0.20%/yr vs 0.43%/yr for COVR.DE.
Performance
EL49.DE vs. COVR.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EL49.DE achieves a 0.49% return, which is significantly higher than COVR.DE's -0.22% return. Over the past 10 years, EL49.DE has outperformed COVR.DE with an annualized return of 0.63%, while COVR.DE has yielded a comparatively lower 0.53% annualized return.
EL49.DE
- 1D
- 0.02%
- 1M
- 0.71%
- YTD
- 0.49%
- 6M
- 0.04%
- 1Y
- 1.39%
- 3Y*
- 4.31%
- 5Y*
- -0.16%
- 10Y*
- 0.63%
COVR.DE
- 1D
- -0.00%
- 1M
- 0.44%
- YTD
- -0.22%
- 6M
- -0.48%
- 1Y
- 0.65%
- 3Y*
- 3.61%
- 5Y*
- -0.49%
- 10Y*
- 0.53%
EL49.DE vs. COVR.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EL49.DE Deka iBoxx EUR Liquid Corporates Diversified UCITS ETF | 0.49% | 2.66% | 4.06% | 7.13% | -13.01% | -1.51% | 1.80% | 5.80% | -1.28% | 0.93% |
COVR.DE PIMCO Covered Bond UCITS ETF Dist | -0.22% | 2.66% | 3.80% | 6.11% | -12.85% | -2.27% | 3.03% | 3.98% | 0.05% | 2.43% |
Correlation
The correlation between EL49.DE and COVR.DE is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Nov 4, 2014 | 0.62 |
The correlation between EL49.DE and COVR.DE shifts across timeframes, from 0.62 (all time) to 0.75 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
EL49.DE vs. COVR.DE — Risk / Return Rank
EL49.DE
COVR.DE
EL49.DE vs. COVR.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Deka iBoxx EUR Liquid Corporates Diversified UCITS ETF (EL49.DE) and PIMCO Covered Bond UCITS ETF Dist (COVR.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.
| EL49.DE | COVR.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.05 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.46 | 0.23 | +0.23 |
| Martin ratioReturn relative to average drawdown | 1.52 | 0.65 | +0.87 |
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
| EL49.DE | COVR.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.36 | 0.26 | +0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.03 | -0.13 | +0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.12 | 0.18 | -0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 0.21 | +0.26 |
Drawdowns
EL49.DE vs. COVR.DE - Drawdown Comparison
The maximum EL49.DE drawdown since its inception was -16.77%, roughly equal to the maximum COVR.DE drawdown of -16.36%. Use the drawdown chart below to compare losses from any high point for EL49.DE and COVR.DE.
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Drawdown Indicators
| EL49.DE | COVR.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.77% | -16.36% | -0.41% |
Max Drawdown (1Y)Largest decline over 1 year | -3.05% | -2.85% | -0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -3.05% | -2.85% | -0.20% |
Max Drawdown (5Y)Largest decline over 5 years | -16.77% | -15.69% | -1.08% |
Max Drawdown (10Y)Largest decline over 10 years | -16.77% | -16.36% | -0.41% |
Current DrawdownCurrent decline from peak | -1.87% | -4.21% | +2.34% |
Average DrawdownAverage peak-to-trough decline | -3.21% | -4.10% | +0.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 1.00% | -0.08% |
Volatility
EL49.DE vs. COVR.DE - Volatility Comparison
Deka iBoxx EUR Liquid Corporates Diversified UCITS ETF (EL49.DE) has a higher volatility of 1.28% compared to PIMCO Covered Bond UCITS ETF Dist (COVR.DE) at 0.92%. This indicates that EL49.DE's price experiences larger fluctuations and is considered to be riskier than COVR.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EL49.DE | COVR.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.28% | 0.92% | +0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 3.42% | 2.11% | +1.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.85% | 2.48% | +1.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.88% | 3.77% | +1.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.25% | 2.98% | +2.27% |
EL49.DE vs. COVR.DE - Expense Ratio Comparison
EL49.DE has a 0.20% expense ratio, which is lower than COVR.DE's 0.43% expense ratio.
Dividends
EL49.DE vs. COVR.DE - Dividend Comparison
EL49.DE's dividend yield for the trailing twelve months is around 3.49%, more than COVR.DE's 2.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COVR.DE PIMCO Covered Bond UCITS ETF Dist | 2.49% | 2.43% | 1.66% | 0.56% | 0.00% | 0.00% | 0.42% | 1.20% | 0.78% | 0.57% | 0.74% | 0.86% |
EL49.DE Deka iBoxx EUR Liquid Corporates Diversified UCITS ETF | 3.49% | 3.50% | 3.24% | 3.04% | 0.75% | 0.69% | 0.69% | 0.88% | 0.75% | 1.15% | 1.52% | 1.82% |
Frequently Asked Questions
EL49.DE and COVR.DE have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EL49.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EL49.DE is cheaper with a 0.20% expense ratio, compared with 0.43% for COVR.DE.
EL49.DE tracks iBoxx® EUR Liquid Corporates Diversified, while COVR.DE tracks PIMCO Covered Bond. They also come from different issuers: Deka and PIMCO. Their fees differ too: 0.20% for EL49.DE and 0.43% for COVR.DE.
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