EL4M.DE vs. VGEA.DE
EL4M.DE (Deka iBoxx EUR Liquid Sovereign Diversified 3-5 UCITS ETF) and VGEA.DE (Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating) are both European Government Bonds funds - EL4M.DE tracks the iBoxx® EUR Liquid Sovereigns Diversified 3-5 while VGEA.DE tracks the Bloomberg Euro Aggregate Treasury. Both are passively managed. Over the past 5 years, EL4M.DE returned -0.53%/yr vs -2.24%/yr for VGEA.DE. Their correlation of 0.86 suggests significant overlap in exposure. EL4M.DE charges 0.15%/yr vs 0.07%/yr for VGEA.DE.
Performance
EL4M.DE vs. VGEA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EL4M.DE achieves a -0.10% return, which is significantly lower than VGEA.DE's 0.11% return.
EL4M.DE
- 1D
- 0.08%
- 1M
- 0.06%
- YTD
- -0.10%
- 6M
- -0.01%
- 1Y
- 0.69%
- 3Y*
- 2.75%
- 5Y*
- -0.53%
- 10Y*
- -0.03%
VGEA.DE
- 1D
- 0.06%
- 1M
- -0.02%
- YTD
- 0.11%
- 6M
- 0.18%
- 1Y
- 0.33%
- 3Y*
- 2.38%
- 5Y*
- -2.24%
- 10Y*
- —
EL4M.DE vs. VGEA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EL4M.DE Deka iBoxx EUR Liquid Sovereign Diversified 3-5 UCITS ETF | -0.10% | 2.42% | 2.21% | 5.36% | -11.06% | -1.40% | 1.14% | 1.40% |
VGEA.DE Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating | 0.11% | 0.67% | 1.54% | 6.93% | -18.30% | -3.32% | 4.81% | 5.94% |
Correlation
The correlation between EL4M.DE and VGEA.DE is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2019 | 0.86 |
The correlation between EL4M.DE and VGEA.DE has been stable across timeframes, ranging from 0.84 to 0.90 - a consistent structural relationship.
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Return for Risk
EL4M.DE vs. VGEA.DE — Risk / Return Rank
EL4M.DE
VGEA.DE
EL4M.DE vs. VGEA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Deka iBoxx EUR Liquid Sovereign Diversified 3-5 UCITS ETF (EL4M.DE) and Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating (VGEA.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.
| EL4M.DE | VGEA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.00 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.14 | -0.01 | +0.16 |
| Martin ratioReturn relative to average drawdown | 0.39 | -0.04 | +0.43 |
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
| EL4M.DE | VGEA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.13 | -0.01 | +0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.13 | -0.35 | +0.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.01 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | -0.10 | +0.57 |
Drawdowns
EL4M.DE vs. VGEA.DE - Drawdown Comparison
The maximum EL4M.DE drawdown since its inception was -13.53%, smaller than the maximum VGEA.DE drawdown of -22.34%. Use the drawdown chart below to compare losses from any high point for EL4M.DE and VGEA.DE.
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Drawdown Indicators
| EL4M.DE | VGEA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.53% | -22.34% | +8.81% |
Max Drawdown (1Y)Largest decline over 1 year | -2.63% | -3.44% | +0.81% |
Max Drawdown (3Y)Largest decline over 3 years | -2.63% | -4.00% | +1.37% |
Max Drawdown (5Y)Largest decline over 5 years | -13.20% | -21.47% | +8.27% |
Max Drawdown (10Y)Largest decline over 10 years | -13.53% | — | — |
Current DrawdownCurrent decline from peak | -3.72% | -13.91% | +10.19% |
Average DrawdownAverage peak-to-trough decline | -2.58% | -10.30% | +7.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 1.33% | -0.38% |
Volatility
EL4M.DE vs. VGEA.DE - Volatility Comparison
The current volatility for Deka iBoxx EUR Liquid Sovereign Diversified 3-5 UCITS ETF (EL4M.DE) is 1.19%, while Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating (VGEA.DE) has a volatility of 1.67%. This indicates that EL4M.DE experiences smaller price fluctuations and is considered to be less risky than VGEA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EL4M.DE | VGEA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.19% | 1.67% | -0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 2.66% | 3.62% | -0.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.99% | 4.33% | -1.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.04% | 6.39% | -2.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.13% | 5.86% | -2.73% |
EL4M.DE vs. VGEA.DE - Expense Ratio Comparison
EL4M.DE has a 0.15% expense ratio, which is higher than VGEA.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
EL4M.DE vs. VGEA.DE - Dividend Comparison
EL4M.DE's dividend yield for the trailing twelve months is around 2.17%, while VGEA.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EL4M.DE Deka iBoxx EUR Liquid Sovereign Diversified 3-5 UCITS ETF | 2.17% | 2.76% | 1.93% | 1.89% | 0.55% | 0.79% | 1.06% | 1.41% | 1.08% | 2.12% | 1.66% | 1.83% |
VGEA.DE Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating | 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
EL4M.DE and VGEA.DE have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGEA.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGEA.DE is cheaper with a 0.07% expense ratio, compared with 0.15% for EL4M.DE.
EL4M.DE tracks iBoxx® EUR Liquid Sovereigns Diversified 3-5, while VGEA.DE tracks Bloomberg Euro Aggregate Treasury. They also come from different issuers: Deka and Vanguard. Their fees differ too: 0.15% for EL4M.DE and 0.07% for VGEA.DE.
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