EL4Q.DE vs. EXHB.DE
EL4Q.DE (Deka iBoxx EUR Liquid Sovereign Diversified 10+ UCITS ETF) and EXHB.DE (iShares eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE)) are both European Government Bonds funds - EL4Q.DE tracks the iBoxx EUR Liquid Sovereign Diversified 10+ Index while EXHB.DE tracks the eb.rexx® Government Germany 1.5-2.5. Both are passively managed. Over the past 10 years, EL4Q.DE returned -2.50%/yr vs -0.26%/yr for EXHB.DE. At a 0.44 correlation, their price movements are largely independent. EL4Q.DE charges 0.15%/yr vs 0.16%/yr for EXHB.DE.
Performance
EL4Q.DE vs. EXHB.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 lower than EXHB.DE's 0.14% return. Over the past 10 years, EL4Q.DE has underperformed EXHB.DE with an annualized return of -2.50%, while EXHB.DE has yielded a comparatively higher -0.26% 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%
EXHB.DE
- 1D
- 0.03%
- 1M
- -0.09%
- 6M
- -0.13%
- YTD
- 0.14%
- 1Y
- 0.49%
- 3Y*
- 2.26%
- 5Y*
- 0.25%
- 10Y*
- -0.26%
EL4Q.DE vs. EXHB.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% |
EXHB.DE iShares eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE) | 0.14% | 1.66% | 2.55% | 2.59% | -5.04% | -0.96% | -0.80% | -0.87% | -0.45% | -1.07% |
Correlation
The correlation between EL4Q.DE and EXHB.DE is 0.59, 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 | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2009 | 0.44 |
The correlation between EL4Q.DE and EXHB.DE shifts across timeframes, from 0.44 (all time) to 0.65 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
EL4Q.DE vs. EXHB.DE — Risk / Return Rank
EL4Q.DE
EXHB.DE
EL4Q.DE vs. EXHB.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 eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE) (EXHB.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 | EXHB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.45 | ||
| Sortino ratioReturn per unit of downside risk | -0.60 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.07 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.11 | 0.41 | -0.53 |
| Martin ratioReturn relative to average drawdown | -0.23 | 1.14 | -1.38 |
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Drawdowns
EL4Q.DE vs. EXHB.DE - Drawdown Comparison
The maximum EL4Q.DE drawdown since its inception was -47.27%, which is greater than EXHB.DE's maximum drawdown of -9.97%. Use the drawdown chart below to compare losses from any high point for EL4Q.DE and EXHB.DE.
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Drawdown Indicators
| EL4Q.DE | EXHB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.27% | -9.97% | -37.30% |
Max Drawdown (1Y)Largest decline over 1 year | -5.66% | -1.18% | -4.48% |
Max Drawdown (3Y)Largest decline over 3 years | -13.02% | -1.18% | -11.84% |
Max Drawdown (5Y)Largest decline over 5 years | -45.32% | -6.45% | -38.87% |
Max Drawdown (10Y)Largest decline over 10 years | -47.27% | -9.94% | -37.33% |
Current DrawdownCurrent decline from peak | -40.57% | -2.69% | -37.88% |
Average DrawdownAverage peak-to-trough decline | -13.51% | -2.11% | -11.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | 0.43% | +2.32% |
Volatility
EL4Q.DE vs. EXHB.DE - Volatility Comparison
Deka iBoxx EUR Liquid Sovereign Diversified 10+ UCITS ETF (EL4Q.DE) has a higher volatility of 2.32% compared to iShares eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE) (EXHB.DE) at 0.38%. This indicates that EL4Q.DE's price experiences larger fluctuations and is considered to be riskier than EXHB.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 | EXHB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.32% | 0.38% | +1.94% |
Volatility (6M)Calculated over the trailing 6-month period | 6.72% | 1.15% | +5.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.58% | 1.28% | +7.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.69% | 1.73% | +12.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.57% | 1.44% | +11.13% |
EL4Q.DE vs. EXHB.DE - Expense Ratio Comparison
EL4Q.DE has a 0.15% expense ratio, which is lower than EXHB.DE's 0.16% expense ratio. Despite the difference, 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. EXHB.DE - Dividend Comparison
EL4Q.DE's dividend yield for the trailing twelve months is around 3.29%, more than EXHB.DE's 1.39% 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% |
EXHB.DE iShares eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE) | 1.39% | 0.96% | 0.72% | 0.60% | 1.05% | 0.97% | 0.80% | 1.06% | 0.97% | 1.50% | 1.42% | 1.49% |
Frequently Asked Questions
EL4Q.DE and EXHB.DE have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EL4Q.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EL4Q.DE is cheaper with a 0.15% expense ratio, compared with 0.16% for EXHB.DE.
EL4Q.DE tracks iBoxx EUR Liquid Sovereign Diversified 10+ Index, while EXHB.DE tracks eb.rexx® Government Germany 1.5-2.5. They also come from different issuers: Deka and iShares. Their fees differ too: 0.15% for EL4Q.DE and 0.16% for EXHB.DE.
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