EL4L.DE vs. EUNH.DE
EL4L.DE (Deka iBoxx EUR Liquid Sovereign Diversified 1-3 UCITS ETF) and EUNH.DE (iShares Core Euro Government Bond UCITS ETF (Dist)) are both European Government Bonds funds - EL4L.DE tracks the iBoxx® EUR Liquid Sovereigns Diversified 1-3 while EUNH.DE tracks the Bloomberg Euro Aggregate Treasury. Both are passively managed. Over the past 10 years, EL4L.DE returned 0.07%/yr vs -0.32%/yr for EUNH.DE. A 0.72 correlation means they provide meaningful diversification when combined. EL4L.DE charges 0.15%/yr vs 0.07%/yr for EUNH.DE.
Performance
EL4L.DE vs. EUNH.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EL4L.DE achieves a -0.08% return, which is significantly lower than EUNH.DE's -0.06% return. Over the past 10 years, EL4L.DE has outperformed EUNH.DE with an annualized return of 0.07%, while EUNH.DE has yielded a comparatively lower -0.32% annualized return.
EL4L.DE
- 1D
- 0.01%
- 1M
- -0.01%
- YTD
- -0.08%
- 6M
- 0.05%
- 1Y
- 0.71%
- 3Y*
- 2.56%
- 5Y*
- 0.29%
- 10Y*
- 0.07%
EUNH.DE
- 1D
- 0.04%
- 1M
- -0.08%
- YTD
- -0.06%
- 6M
- 0.09%
- 1Y
- 0.30%
- 3Y*
- 2.35%
- 5Y*
- -2.27%
- 10Y*
- -0.32%
EL4L.DE vs. EUNH.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EL4L.DE Deka iBoxx EUR Liquid Sovereign Diversified 1-3 UCITS ETF | -0.08% | 2.34% | 2.62% | 3.63% | -6.25% | -0.92% | -0.04% | 0.22% | -0.09% | -0.55% |
EUNH.DE iShares Core Euro Government Bond UCITS ETF (Dist) | -0.06% | 0.80% | 1.52% | 6.83% | -18.32% | -3.37% | 4.72% | 6.76% | 0.85% | -0.13% |
Correlation
The correlation between EL4L.DE and EUNH.DE is 0.70, 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 | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Oct 22, 2009 | 0.72 |
The correlation between EL4L.DE and EUNH.DE has been stable across timeframes, ranging from 0.70 to 0.79 - a consistent structural relationship.
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Return for Risk
EL4L.DE vs. EUNH.DE — Risk / Return Rank
EL4L.DE
EUNH.DE
EL4L.DE vs. EUNH.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Deka iBoxx EUR Liquid Sovereign Diversified 1-3 UCITS ETF (EL4L.DE) and iShares Core Euro Government Bond UCITS ETF (Dist) (EUNH.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.
| EL4L.DE | EUNH.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.00 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.33 | -0.03 | +0.36 |
| Martin ratioReturn relative to average drawdown | 0.97 | -0.08 | +1.05 |
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
| EL4L.DE | EUNH.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.31 | -0.02 | +0.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.13 | -0.35 | +0.48 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.04 | -0.06 | +0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.25 | +0.24 |
Drawdowns
EL4L.DE vs. EUNH.DE - Drawdown Comparison
The maximum EL4L.DE drawdown since its inception was -8.73%, smaller than the maximum EUNH.DE drawdown of -22.43%. Use the drawdown chart below to compare losses from any high point for EL4L.DE and EUNH.DE.
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Drawdown Indicators
| EL4L.DE | EUNH.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.73% | -22.43% | +13.70% |
Max Drawdown (1Y)Largest decline over 1 year | -1.61% | -3.48% | +1.87% |
Max Drawdown (3Y)Largest decline over 3 years | -1.61% | -4.10% | +2.49% |
Max Drawdown (5Y)Largest decline over 5 years | -7.75% | -21.53% | +13.78% |
Max Drawdown (10Y)Largest decline over 10 years | -8.73% | -22.43% | +13.70% |
Current DrawdownCurrent decline from peak | -0.84% | -14.10% | +13.26% |
Average DrawdownAverage peak-to-trough decline | -1.41% | -5.97% | +4.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.54% | 1.35% | -0.81% |
Volatility
EL4L.DE vs. EUNH.DE - Volatility Comparison
The current volatility for Deka iBoxx EUR Liquid Sovereign Diversified 1-3 UCITS ETF (EL4L.DE) is 0.58%, while iShares Core Euro Government Bond UCITS ETF (Dist) (EUNH.DE) has a volatility of 1.72%. This indicates that EL4L.DE experiences smaller price fluctuations and is considered to be less risky than EUNH.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EL4L.DE | EUNH.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.58% | 1.72% | -1.14% |
Volatility (6M)Calculated over the trailing 6-month period | 1.46% | 3.70% | -2.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.71% | 4.37% | -2.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.25% | 6.34% | -4.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.70% | 5.52% | -3.82% |
EL4L.DE vs. EUNH.DE - Expense Ratio Comparison
EL4L.DE has a 0.15% expense ratio, which is higher than EUNH.DE's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
EL4L.DE vs. EUNH.DE - Dividend Comparison
EL4L.DE's dividend yield for the trailing twelve months is around 1.65%, less than EUNH.DE's 2.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EL4L.DE Deka iBoxx EUR Liquid Sovereign Diversified 1-3 UCITS ETF | 1.65% | 1.36% | 1.37% | 0.26% | 0.34% | 0.41% | 0.51% | 1.07% | 0.69% | 1.55% | 1.58% | 1.85% |
EUNH.DE iShares Core Euro Government Bond UCITS ETF (Dist) | 2.49% | 2.30% | 1.77% | 0.97% | 0.27% | 0.24% | 0.47% | 0.65% | 0.66% | 0.70% | 0.94% | 0.62% |
Frequently Asked Questions
EL4L.DE and EUNH.DE have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EUNH.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUNH.DE is cheaper with a 0.07% expense ratio, compared with 0.15% for EL4L.DE.
EL4L.DE tracks iBoxx® EUR Liquid Sovereigns Diversified 1-3, while EUNH.DE tracks Bloomberg Euro Aggregate Treasury. They also come from different issuers: Deka and iShares. Their fees differ too: 0.15% for EL4L.DE and 0.07% for EUNH.DE.
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