EL4Q.DE vs. VGEA.DE
EL4Q.DE (Deka iBoxx EUR Liquid Sovereign Diversified 10+ UCITS ETF) and VGEA.DE (Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating) are both European Government Bonds funds - EL4Q.DE tracks the iBoxx EUR Liquid Sovereign Diversified 10+ Index while VGEA.DE tracks the Bloomberg Euro Aggregate Treasury. Both are passively managed. Over the past 5 years, EL4Q.DE returned -8.69%/yr vs -2.55%/yr for VGEA.DE. Their correlation of 0.92 suggests significant overlap in exposure. EL4Q.DE charges 0.15%/yr vs 0.07%/yr for VGEA.DE.
Performance
EL4Q.DE vs. VGEA.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 VGEA.DE's -0.17% 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%
VGEA.DE
- 1D
- 0.00%
- 1M
- -0.75%
- 6M
- -0.71%
- YTD
- -0.17%
- 1Y
- 0.55%
- 3Y*
- 2.39%
- 5Y*
- -2.55%
- 10Y*
- —
EL4Q.DE vs. VGEA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
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% | 17.56% |
VGEA.DE Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating | -0.17% | 0.67% | 1.54% | 6.93% | -18.29% | -3.31% | 4.79% | 5.96% |
Correlation
The correlation between EL4Q.DE and VGEA.DE is 0.94, 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 | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Feb 19, 2019 | 0.92 |
The correlation between EL4Q.DE and VGEA.DE has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.
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Return for Risk
EL4Q.DE vs. VGEA.DE — Risk / Return Rank
EL4Q.DE
VGEA.DE
EL4Q.DE vs. VGEA.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 Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating (VGEA.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 | VGEA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.25 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.03 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.11 | 0.16 | -0.27 |
| Martin ratioReturn relative to average drawdown | -0.23 | 0.39 | -0.62 |
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Drawdowns
EL4Q.DE vs. VGEA.DE - Drawdown Comparison
The maximum EL4Q.DE drawdown since its inception was -47.27%, which is greater than VGEA.DE's maximum drawdown of -22.35%. Use the drawdown chart below to compare losses from any high point for EL4Q.DE and VGEA.DE.
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Drawdown Indicators
| EL4Q.DE | VGEA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.27% | -22.35% | -24.92% |
Max Drawdown (1Y)Largest decline over 1 year | -5.66% | -3.47% | -2.19% |
Max Drawdown (3Y)Largest decline over 3 years | -13.02% | -3.92% | -9.10% |
Max Drawdown (5Y)Largest decline over 5 years | -45.32% | -21.48% | -23.84% |
Max Drawdown (10Y)Largest decline over 10 years | -47.27% | — | — |
Current DrawdownCurrent decline from peak | -40.57% | -14.14% | -26.43% |
Average DrawdownAverage peak-to-trough decline | -13.51% | -10.38% | -3.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | 1.40% | +1.35% |
Volatility
EL4Q.DE vs. VGEA.DE - Volatility Comparison
Deka iBoxx EUR Liquid Sovereign Diversified 10+ UCITS ETF (EL4Q.DE) has a higher volatility of 2.32% compared to Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating (VGEA.DE) at 1.11%. This indicates that EL4Q.DE's price experiences larger fluctuations and is considered to be riskier than VGEA.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 | VGEA.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% | 3.67% | +3.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.58% | 4.41% | +4.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.69% | 6.40% | +8.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.57% | 5.91% | +6.66% |
EL4Q.DE vs. VGEA.DE - Expense Ratio Comparison
EL4Q.DE has a 0.15% expense ratio, which is higher than VGEA.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. VGEA.DE - Dividend Comparison
EL4Q.DE's dividend yield for the trailing twelve months is around 3.29%, while VGEA.DE has not paid dividends to shareholders.
| 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% |
VGEA.DE Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.94, EL4Q.DE and VGEA.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, VGEA.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGEA.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 VGEA.DE tracks Bloomberg Euro Aggregate Treasury. They also come from different issuers: Deka and Vanguard. Their fees differ too: 0.15% for EL4Q.DE and 0.07% for VGEA.DE.
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