EL4P.DE vs. EUNH.DE
EL4P.DE (Deka iBoxx EUR Liquid Sovereign Diversified 7-10 UCITS ETF) and EUNH.DE (iShares Core Euro Government Bond UCITS ETF (Dist)) are both European Government Bonds funds - EL4P.DE tracks the iBoxx® EUR Liquid Sovereigns Diversified 7-10 while EUNH.DE tracks the Bloomberg Euro Aggregate Treasury. Both are passively managed. Over the past 10 years, EL4P.DE returned -0.11%/yr vs -0.32%/yr for EUNH.DE. Their correlation of 0.93 suggests significant overlap in exposure. EL4P.DE charges 0.15%/yr vs 0.07%/yr for EUNH.DE.
Performance
EL4P.DE vs. EUNH.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EL4P.DE achieves a 0.16% return, which is significantly higher than EUNH.DE's -0.06% return. Over the past 10 years, EL4P.DE has outperformed EUNH.DE with an annualized return of -0.11%, while EUNH.DE has yielded a comparatively lower -0.32% annualized return.
EL4P.DE
- 1D
- 0.06%
- 1M
- 0.03%
- YTD
- 0.16%
- 6M
- 0.17%
- 1Y
- 0.76%
- 3Y*
- 2.69%
- 5Y*
- -2.34%
- 10Y*
- -0.11%
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%
EL4P.DE vs. EUNH.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EL4P.DE Deka iBoxx EUR Liquid Sovereign Diversified 7-10 UCITS ETF | 0.16% | 1.64% | 1.06% | 8.67% | -20.09% | -3.04% | 4.34% | 6.96% | 1.47% | 0.72% |
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 EL4P.DE and EUNH.DE is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Oct 22, 2009 | 0.93 |
The correlation between EL4P.DE and EUNH.DE has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.
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Return for Risk
EL4P.DE vs. EUNH.DE — Risk / Return Rank
EL4P.DE
EUNH.DE
EL4P.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 7-10 UCITS ETF (EL4P.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.
| EL4P.DE | EUNH.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.00 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.08 | -0.03 | +0.11 |
| Martin ratioReturn relative to average drawdown | 0.21 | -0.08 | +0.29 |
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
| EL4P.DE | EUNH.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.07 | -0.02 | +0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.31 | -0.35 | +0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.02 | -0.06 | +0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.25 | +0.19 |
Drawdowns
EL4P.DE vs. EUNH.DE - Drawdown Comparison
The maximum EL4P.DE drawdown since its inception was -23.50%, roughly equal to the maximum EUNH.DE drawdown of -22.43%. Use the drawdown chart below to compare losses from any high point for EL4P.DE and EUNH.DE.
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Drawdown Indicators
| EL4P.DE | EUNH.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.50% | -22.43% | -1.07% |
Max Drawdown (1Y)Largest decline over 1 year | -4.09% | -3.48% | -0.61% |
Max Drawdown (3Y)Largest decline over 3 years | -4.65% | -4.10% | -0.55% |
Max Drawdown (5Y)Largest decline over 5 years | -23.13% | -21.53% | -1.60% |
Max Drawdown (10Y)Largest decline over 10 years | -23.50% | -22.43% | -1.07% |
Current DrawdownCurrent decline from peak | -13.76% | -14.10% | +0.34% |
Average DrawdownAverage peak-to-trough decline | -5.77% | -5.97% | +0.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.53% | 1.35% | +0.18% |
Volatility
EL4P.DE vs. EUNH.DE - Volatility Comparison
Deka iBoxx EUR Liquid Sovereign Diversified 7-10 UCITS ETF (EL4P.DE) has a higher volatility of 1.99% compared to iShares Core Euro Government Bond UCITS ETF (Dist) (EUNH.DE) at 1.72%. This indicates that EL4P.DE's price experiences larger fluctuations and is considered to be riskier 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
| EL4P.DE | EUNH.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.99% | 1.72% | +0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 4.11% | 3.70% | +0.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.97% | 4.37% | +0.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.48% | 6.34% | +1.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.06% | 5.52% | +0.54% |
EL4P.DE vs. EUNH.DE - Expense Ratio Comparison
EL4P.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
EL4P.DE vs. EUNH.DE - Dividend Comparison
EL4P.DE's dividend yield for the trailing twelve months is around 3.64%, more than EUNH.DE's 2.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EL4P.DE Deka iBoxx EUR Liquid Sovereign Diversified 7-10 UCITS ETF | 3.64% | 2.66% | 1.83% | 1.37% | 0.39% | 0.62% | 0.83% | 1.08% | 0.64% | 1.41% | 1.80% | 2.32% |
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
With a correlation of 0.93, EL4P.DE and EUNH.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
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 EL4P.DE.
EL4P.DE tracks iBoxx® EUR Liquid Sovereigns Diversified 7-10, while EUNH.DE tracks Bloomberg Euro Aggregate Treasury. They also come from different issuers: Deka and iShares. Their fees differ too: 0.15% for EL4P.DE and 0.07% for EUNH.DE.
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