EL4P.DE vs. EIBB.DE
EL4P.DE (Deka iBoxx EUR Liquid Sovereign Diversified 7-10 UCITS ETF) and EIBB.DE (Invesco Euro Government Bond UCITS ETF Dist) are both European Government Bonds funds - EL4P.DE tracks the iBoxx® EUR Liquid Sovereigns Diversified 7-10 while EIBB.DE tracks the Bloomberg Euro Treasury Majors Bond. Both are passively managed. Over the past 5 years, EL4P.DE returned -2.03%/yr vs -1.98%/yr for EIBB.DE. Their correlation of 0.94 suggests significant overlap in exposure. EL4P.DE charges 0.15%/yr vs 0.10%/yr for EIBB.DE.
Performance
EL4P.DE vs. EIBB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EL4P.DE achieves a 1.47% return, which is significantly higher than EIBB.DE's 1.28% return.
EL4P.DE
- 1D
- 0.05%
- 1M
- 0.99%
- YTD
- 1.47%
- 6M
- 1.68%
- 1Y
- 1.84%
- 3Y*
- 2.88%
- 5Y*
- -2.03%
- 10Y*
- -0.06%
EIBB.DE
- 1D
- 0.22%
- 1M
- 0.86%
- YTD
- 1.28%
- 6M
- 1.53%
- 1Y
- 1.30%
- 3Y*
- 2.47%
- 5Y*
- -1.98%
- 10Y*
- —
EL4P.DE vs. EIBB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EL4P.DE Deka iBoxx EUR Liquid Sovereign Diversified 7-10 UCITS ETF | 1.47% | 1.64% | 1.06% | 8.67% | -20.09% | -3.04% | 4.33% | -3.29% |
EIBB.DE Invesco Euro Government Bond UCITS ETF Dist | 1.28% | 0.74% | 1.40% | 6.77% | -18.34% | -3.29% | 4.71% | -3.48% |
Correlation
The correlation between EL4P.DE and EIBB.DE is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Aug 28, 2019 | 0.94 |
Over the past year, the correlation between EL4P.DE and EIBB.DE has dropped to 0.71 - well below their long-term average of 0.94, suggesting their price drivers have been diverging.
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Return for Risk
EL4P.DE vs. EIBB.DE — Risk / Return Rank
EL4P.DE
EIBB.DE
EL4P.DE vs. EIBB.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Deka iBoxx EUR Liquid Sovereign Diversified 7-10 UCITS ETF (EL4P.DE) and Invesco Euro Government Bond UCITS ETF Dist (EIBB.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.
| EL4P.DE | EIBB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.06 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.45 | 0.38 | +0.07 |
| Martin ratioReturn relative to average drawdown | 1.16 | 1.04 | +0.13 |
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Drawdowns
EL4P.DE vs. EIBB.DE - Drawdown Comparison
The maximum EL4P.DE drawdown since its inception was -23.49%, roughly equal to the maximum EIBB.DE drawdown of -22.55%. Use the drawdown chart below to compare losses from any high point for EL4P.DE and EIBB.DE.
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Drawdown Indicators
| EL4P.DE | EIBB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.49% | -22.55% | -0.94% |
Max Drawdown (1Y)Largest decline over 1 year | -4.09% | -3.37% | -0.72% |
Max Drawdown (3Y)Largest decline over 3 years | -4.43% | -4.03% | -0.40% |
Max Drawdown (5Y)Largest decline over 5 years | -23.13% | -21.67% | -1.46% |
Max Drawdown (10Y)Largest decline over 10 years | -23.49% | — | — |
Current DrawdownCurrent decline from peak | -12.62% | -13.12% | +0.50% |
Average DrawdownAverage peak-to-trough decline | -5.57% | -11.22% | +5.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.58% | 1.25% | +0.33% |
Volatility
EL4P.DE vs. EIBB.DE - Volatility Comparison
Deka iBoxx EUR Liquid Sovereign Diversified 7-10 UCITS ETF (EL4P.DE) has a higher volatility of 1.28% compared to Invesco Euro Government Bond UCITS ETF Dist (EIBB.DE) at 1.03%. This indicates that EL4P.DE's price experiences larger fluctuations and is considered to be riskier than EIBB.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EL4P.DE | EIBB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.28% | 1.03% | +0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 4.13% | 3.28% | +0.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.93% | 4.10% | +0.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.49% | 6.33% | +1.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.06% | 5.95% | +0.11% |
EL4P.DE vs. EIBB.DE - Expense Ratio Comparison
EL4P.DE has a 0.15% expense ratio, which is higher than EIBB.DE's 0.10% 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
EL4P.DE vs. EIBB.DE - Dividend Comparison
EL4P.DE's dividend yield for the trailing twelve months is around 3.59%, more than EIBB.DE's 3.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EIBB.DE Invesco Euro Government Bond UCITS ETF Dist | 3.01% | 2.96% | 2.88% | 1.56% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EL4P.DE Deka iBoxx EUR Liquid Sovereign Diversified 7-10 UCITS ETF | 3.59% | 2.66% | 1.83% | 1.37% | 0.39% | 0.62% | 0.83% | 1.08% | 0.64% | 1.41% | 1.80% | 2.32% |
Frequently Asked Questions
EL4P.DE and EIBB.DE have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EIBB.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EIBB.DE is cheaper with a 0.10% expense ratio, compared with 0.15% for EL4P.DE.
EL4P.DE tracks iBoxx® EUR Liquid Sovereigns Diversified 7-10, while EIBB.DE tracks Bloomberg Euro Treasury Majors Bond. They also come from different issuers: Deka and Invesco. Their fees differ too: 0.15% for EL4P.DE and 0.10% for EIBB.DE.
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