EL4Q.DE vs. EUNH.DE
EL4Q.DE (Deka iBoxx EUR Liquid Sovereign Diversified 10+ UCITS ETF) and EUNH.DE (iShares Core Euro Government Bond UCITS ETF (Dist)) are both European Government Bonds funds - EL4Q.DE tracks the iBoxx EUR Liquid Sovereign Diversified 10+ Index while EUNH.DE tracks the Bloomberg Euro Aggregate Treasury. Both are passively managed. Over the past 10 years, EL4Q.DE returned -2.50%/yr vs -0.65%/yr for EUNH.DE. Their correlation of 0.86 suggests significant overlap in exposure. EL4Q.DE charges 0.15%/yr vs 0.07%/yr for EUNH.DE.
Performance
EL4Q.DE vs. EUNH.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EL4Q.DE achieves a -0.80% return, which is significantly higher than EUNH.DE's -1.51% return. Over the past 10 years, EL4Q.DE has underperformed EUNH.DE with an annualized return of -2.50%, while EUNH.DE has yielded a comparatively higher -0.65% annualized return.
EL4Q.DE
- 1D
- -0.38%
- 1M
- -1.97%
- 6M
- -1.68%
- YTD
- -0.80%
- 1Y
- -0.76%
- 3Y*
- -0.02%
- 5Y*
- -8.69%
- 10Y*
- -2.50%
EUNH.DE
- 1D
- -0.01%
- 1M
- -0.78%
- 6M
- -1.93%
- YTD
- -1.51%
- 1Y
- -0.71%
- 3Y*
- 1.97%
- 5Y*
- -2.82%
- 10Y*
- -0.65%
EL4Q.DE vs. EUNH.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EL4Q.DE Deka iBoxx EUR Liquid Sovereign Diversified 10+ UCITS ETF | -0.80% | -4.72% | -1.64% | 9.77% | -36.18% | -7.93% | 13.24% | 19.50% | 1.64% | -0.28% |
EUNH.DE iShares Core Euro Government Bond UCITS ETF (Dist) | -1.51% | 0.80% | 1.52% | 6.83% | -18.31% | -3.38% | 4.72% | 6.76% | 0.86% | -0.13% |
Correlation
The correlation between EL4Q.DE and EUNH.DE is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Apr 17, 2009 | 0.86 |
The correlation between EL4Q.DE and EUNH.DE has been stable across timeframes, ranging from 0.86 to 0.94 - a consistent structural relationship.
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Return for Risk
EL4Q.DE vs. EUNH.DE — Risk / Return Rank
EL4Q.DE
EUNH.DE
EL4Q.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 10+ UCITS ETF (EL4Q.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.
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.
| EL4Q.DE | EUNH.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.14 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 0.98 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.11 | -0.20 | +0.08 |
| Martin ratioReturn relative to average drawdown | -0.23 | -0.45 | +0.22 |
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Drawdowns
EL4Q.DE vs. EUNH.DE - Drawdown Comparison
The maximum EL4Q.DE drawdown since its inception was -47.27%, which is greater than EUNH.DE's maximum drawdown of -22.42%. Use the drawdown chart below to compare losses from any high point for EL4Q.DE and EUNH.DE.
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Drawdown Indicators
| EL4Q.DE | EUNH.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.27% | -22.42% | -24.85% |
Max Drawdown (1Y)Largest decline over 1 year | -5.66% | -3.59% | -2.07% |
Max Drawdown (3Y)Largest decline over 3 years | -13.02% | -4.10% | -8.92% |
Max Drawdown (5Y)Largest decline over 5 years | -45.32% | -21.53% | -23.79% |
Max Drawdown (10Y)Largest decline over 10 years | -47.27% | -22.42% | -24.85% |
Current DrawdownCurrent decline from peak | -40.57% | -15.34% | -25.23% |
Average DrawdownAverage peak-to-trough decline | -13.51% | -5.87% | -7.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | 1.55% | +1.20% |
Volatility
EL4Q.DE vs. EUNH.DE - Volatility Comparison
Deka iBoxx EUR Liquid Sovereign Diversified 10+ UCITS ETF (EL4Q.DE) has a higher volatility of 2.32% compared to iShares Core Euro Government Bond UCITS ETF (Dist) (EUNH.DE) at 1.11%. This indicates that EL4Q.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
| EL4Q.DE | EUNH.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.32% | 1.11% | +1.21% |
Volatility (6M)Calculated over the trailing 6-month period | 6.72% | 3.75% | +2.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.58% | 4.55% | +4.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.69% | 6.37% | +8.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.57% | 5.52% | +7.05% |
EL4Q.DE vs. EUNH.DE - Expense Ratio Comparison
EL4Q.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
EL4Q.DE vs. EUNH.DE - Dividend Comparison
EL4Q.DE's dividend yield for the trailing twelve months is around 3.29%, more than EUNH.DE's 1.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EL4Q.DE Deka iBoxx EUR Liquid Sovereign Diversified 10+ UCITS ETF | 3.29% | 2.65% | 1.77% | 1.93% | 1.40% | 1.18% | 1.30% | 1.67% | 1.49% | 2.64% | 2.40% | 2.69% |
EUNH.DE iShares Core Euro Government Bond UCITS ETF (Dist) | 1.20% | 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 0.91, EL4Q.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 EL4Q.DE.
EL4Q.DE tracks iBoxx EUR Liquid Sovereign Diversified 10+ Index, while EUNH.DE tracks Bloomberg Euro Aggregate Treasury. They also come from different issuers: Deka and iShares. Their fees differ too: 0.15% for EL4Q.DE and 0.07% for EUNH.DE.
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