EL4P.DE vs. IBCN.DE
EL4P.DE (Deka iBoxx EUR Liquid Sovereign Diversified 7-10 UCITS ETF) and IBCN.DE (iShares Euro Government Bond 3-5yr UCITS ETF) are both European Government Bonds funds - EL4P.DE tracks the iBoxx® EUR Liquid Sovereigns Diversified 7-10 while IBCN.DE tracks the Bloomberg Euro Government Bond 5. Both are passively managed. Over the past 10 years, EL4P.DE returned -0.06%/yr vs 0.22%/yr for IBCN.DE. Their correlation of 0.85 suggests significant overlap in exposure. Both charge a 0.15% expense ratio.
Performance
EL4P.DE vs. IBCN.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 IBCN.DE's 0.74% return. Over the past 10 years, EL4P.DE has underperformed IBCN.DE with an annualized return of -0.06%, while IBCN.DE has yielded a comparatively higher 0.22% annualized 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%
IBCN.DE
- 1D
- 0.08%
- 1M
- 0.61%
- YTD
- 0.74%
- 6M
- 0.56%
- 1Y
- 1.09%
- 3Y*
- 2.96%
- 5Y*
- -0.20%
- 10Y*
- 0.22%
EL4P.DE vs. IBCN.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 | 1.47% | 1.64% | 1.06% | 8.67% | -20.09% | -3.04% | 4.33% | 6.96% | 1.48% | 0.72% |
IBCN.DE iShares Euro Government Bond 3-5yr UCITS ETF | 0.74% | 2.24% | 2.15% | 5.22% | -10.13% | -1.37% | 1.01% | 1.69% | 0.52% | 0.61% |
Correlation
The correlation between EL4P.DE and IBCN.DE is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2009 | 0.85 |
The correlation between EL4P.DE and IBCN.DE has been stable across timeframes, ranging from 0.85 to 0.93 - a consistent structural relationship.
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Return for Risk
EL4P.DE vs. IBCN.DE — Risk / Return Rank
EL4P.DE
IBCN.DE
EL4P.DE vs. IBCN.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 Euro Government Bond 3-5yr UCITS ETF (IBCN.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 | IBCN.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.08 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.45 | 0.45 | 0.00 |
| Martin ratioReturn relative to average drawdown | 1.16 | 1.21 | -0.05 |
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Drawdowns
EL4P.DE vs. IBCN.DE - Drawdown Comparison
The maximum EL4P.DE drawdown since its inception was -23.49%, which is greater than IBCN.DE's maximum drawdown of -12.52%. Use the drawdown chart below to compare losses from any high point for EL4P.DE and IBCN.DE.
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Drawdown Indicators
| EL4P.DE | IBCN.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.49% | -12.52% | -10.97% |
Max Drawdown (1Y)Largest decline over 1 year | -4.09% | -2.41% | -1.68% |
Max Drawdown (3Y)Largest decline over 3 years | -4.43% | -2.41% | -2.02% |
Max Drawdown (5Y)Largest decline over 5 years | -23.13% | -12.15% | -10.98% |
Max Drawdown (10Y)Largest decline over 10 years | -23.49% | -12.52% | -10.97% |
Current DrawdownCurrent decline from peak | -12.62% | -2.26% | -10.36% |
Average DrawdownAverage peak-to-trough decline | -5.57% | -2.12% | -3.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.58% | 0.90% | +0.68% |
Volatility
EL4P.DE vs. IBCN.DE - Volatility Comparison
Deka iBoxx EUR Liquid Sovereign Diversified 7-10 UCITS ETF (EL4P.DE) has a higher volatility of 1.28% compared to iShares Euro Government Bond 3-5yr UCITS ETF (IBCN.DE) at 0.52%. This indicates that EL4P.DE's price experiences larger fluctuations and is considered to be riskier than IBCN.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 | IBCN.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.28% | 0.52% | +0.76% |
Volatility (6M)Calculated over the trailing 6-month period | 4.13% | 2.27% | +1.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.93% | 2.53% | +2.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.49% | 3.63% | +3.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.06% | 2.96% | +3.10% |
EL4P.DE vs. IBCN.DE - Expense Ratio Comparison
Both EL4P.DE and IBCN.DE have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
EL4P.DE vs. IBCN.DE - Dividend Comparison
EL4P.DE's dividend yield for the trailing twelve months is around 3.59%, more than IBCN.DE's 2.42% 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 | 3.59% | 2.66% | 1.83% | 1.37% | 0.39% | 0.62% | 0.83% | 1.08% | 0.64% | 1.41% | 1.80% | 2.32% |
IBCN.DE iShares Euro Government Bond 3-5yr UCITS ETF | 2.42% | 2.51% | 2.61% | 0.80% | 0.00% | 0.00% | 0.00% | 0.07% | 0.12% | 0.08% | 0.13% | 0.61% |
Frequently Asked Questions
EL4P.DE and IBCN.DE have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
EL4P.DE and IBCN.DE have the same expense ratio: 0.15% per year.
EL4P.DE tracks iBoxx® EUR Liquid Sovereigns Diversified 7-10, while IBCN.DE tracks Bloomberg Euro Government Bond 5. They also come from different issuers: Deka and iShares.
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